May 25 2010

Nice solid profitable day with a lot of trades - we got the major direction right, so it was just about nailing down safe entries. Speaking of which, don't miss an educational discussion at 13:00 where we talked about our "drop-recross" method of finding entries on pullbacks or sharp selloffs

Session Time: Tue May 25 00:00:00 2010

[07:53] {magoo} morning, gonna be wild one today

[07:54] {Threei} hey mags

[07:55] {magoo} morn:)

[08:01] {Threei} (GR) German Foreign Min Westerwelle: German to push for Euro deficit sanctions; Region must learn from crisis

[08:01] {Threei} good luck

[08:01] {nemo} can you say "riots"

[08:02] {Threei} well, at some point it's going to be riots against riots: some countries against eausterity measures and others - against bailing them out

[08:02] {Threei} and the whole construct will fall apart

[08:03] {nemo} I guess it's a good thing most European countries' military are a joke

[08:03] {Threei} that is a scary thought

[08:04] {nemo} cycles dude

[08:04] {Threei} but in any case, humans always find the way to kill each other

[08:04] {nemo} That's the skill at which we are most proficient

[08:04] {Threei} and IMO, this union better take itself apart in more or less civilized way now

[08:04] {Threei} or it will be done in much more violent way later

[08:05] {nemo} Hey, if Iceland can riot.....

[08:05] {Threei} witness that same USSR where proclaimed "friendship of the nations" turned into dozens of civil wars

[08:05] {Threei} EUR/USD Vague dealer chatter of central banks considering implementing new lquidity measiures

[08:06] {nemo} this event could be an opportunity for Russia to reconstitute the Bloc

[08:06] {nemo} We'll need China to instigate hostilities to keep Russian focus off the west

[08:06] {nemo} scary, huh...

[08:07] {Threei} Russia may try but it has plenty of economic troubles of its own

[08:07] {nemo} yes, but it's political structure is designed most efficiently for such strategies

[08:08] {Threei} not as efficiently as USSR's... but yeah

[08:08] {nemo} It's an oligarchy with a Tsar

[08:12] {Threei} BLTXX Baltic Dry Bulk Index rises more than 5.5% (third straight rise)

[08:13] {Threei} DRYS getting some bounce

[08:23] {Les} morning

[08:23] {Threei} les :)

[08:23] {nemo} afternoon

[08:23] {dptl} morning

[08:23] {Threei} dp :)

[08:25] {Les} sounds like a bad film

[08:26] {nemo} ?

[08:26] {Les} "discipline trumps conviction" or how FAZ got away...

[08:26] {Threei} shrug

[08:26] {nemo} ahhhh....

[08:29] {nemo} Well, see you folks tomorrow....

[08:29] {Les} ciao

[08:29] {Threei} take care nemo

[08:29] {Les} must be good pre market trading

[08:29] {nemo} at my age, I take it anyway I can get it

[08:30] {nemo} no...schedule conflicts

[08:30] {Les} have a good one

[08:30] {nemo} ty

[08:30] {magoo} vad, whats your gut say for today?

[08:31] {Threei} no discernable voice yet

[08:31] {Threei} may get bounce, may get panic, and most likely - will get both,

[08:31] {Threei} but the question is:

[08:31] {Threei} in what order?

[08:32] {Threei} untuitively, feels like some bounce, then panic, then bigger bounce

[08:32] {Threei} but it's early

[08:32] {strider} morning folks.

[08:33] {Threei} strider :)

[08:33] {strider} :)

[08:33] {dptl} you can't draw a trend line in laser chart window?or you can somehow?

[08:33] {Threei} horisonatl you can

[08:33] {dptl} yes but only horizontal

[08:34] {Threei} that's what I said

[08:34] {dptl} yes just making sure :)

[08:34] {Threei} but some repeat what I said adding "but" so they look like they argue and win {GGG}

[08:35] {dptl} lol

[08:35] {dptl} short bbp?

[08:36] {dptl} bp

[08:39] {dptl} 1:1 :)

[08:41] {magoo} short dptl lol

[08:42] {Les} 41 break? nice

[08:42] {Threei} les, interesting analysis of Europe situation:

[08:42] {Threei} http://www.stratfor.com/weekly/20100524_germany_after_eu_russian_scenario?utm_source=GWeekly&utm_medium=email&utm_campaign=100525&utm_content=readmore&elq=8bba2fa433894f3f97d0990cb1011ba9

[08:48] {Threei} one more, a few days ago:

[08:48] {Threei} http://www.stratfor.com/weekly/20100517_germany_greece_and_exiting_eurozone?utm_source=GWeekly&utm_medium=email&utm_campaign=100518&utm_content=readmore&elq=2901ae93eaf843ccb546234ae27bc776

[08:51] {Les} interesting. hadn't thought of Germany and Russia. makes sense though. labor, materials, energy, technology.

[08:51] {Les} good match

[08:52] {Les} got a brother in law who is White Russian

[08:52] {Les} I think its white russian

[08:52] {Les} called

[08:52] {Threei} ?

[08:52] {Threei} never heard this term

[08:52] {Les} german family that emigrated to russia some time before hand

[08:52] {dptl} it's a drink

[08:52] {Les} then returned to Germany

[08:52] {Threei} lol

[08:53] {Les} yesssss dp

[08:53] {Les} Germans see him as a Russian, despite historical ties. shrug. European history

[08:53] {Les} complicated lot

[08:54] {Les} EU break up would help switzerland out as a financial zone again i think

[09:06] {Les} just read the second article. what fascinating times we live in

[09:07] {Threei} I for one hate it

[09:07] {Threei} I already lived through one country collapse

[09:07] {Threei} how many does one need in his lifetime?

[09:07] {Les} yeh I comprehend the preference for avoiding pain

[09:08] {Les} but still, history being made

[09:08] {Les} reminds me of scene where brad pitt addresses all the male fighters in fight club

[09:09] {Les} "we have no war, no great depression to define us"

[09:09] {Les} well, we will soon enough

[09:12] {larisa} gm :)

[09:12] {Threei} CNBC's Mark Haynes says NBC news now reporting that the earlier report of the North Korean military being placed on alert is not true

[09:12] {Threei} - no other NBC arm or other agency has confirmed the report from CNBC

[09:12] {Threei} larisa :)

[09:14] {Threei} nice setup on BP short, dp

[09:14] {dino} gm all

[09:14] {Threei} dino :)

[09:14] {dptl} yes...to bad i did't play it

[09:17] {Les} vad, why doesn't chart show for SPY when I choose it?

[09:17] {Threei} hmm?

[09:17] {Threei} I am looking right at ir

[09:17] {Threei} try to switch chart server

[09:18] {Threei} Quote-Switch Cart Server

[09:18] {Threei} chart

[09:18] {Les} why does chart server change daily? automatic, is it?

[09:18] {Threei} shrug

[09:18] {RonS} aloha to all :)

[09:18] {Threei} not the "why" I am overly concerned to find out

[09:18] {Threei} Ron :)

[09:19] {shorty} morning sll

[09:19] {Threei} what's wth aloha? trading from maui this week? :)

[09:19] {Threei} shorty :)

[09:19] {Les} http://uploads.mibbit.com/qMHQ5f.gif

[09:20] {Les} don't get it. I change level 2 but chart refuses to move to SPY

[09:20] {Les} it's only SPY

[09:20] {Threei} are they linked?

[09:20] {Threei} link works for any other symbol?

[09:20] {Les} sure. all other tickers work. just not spy

[09:21] {Threei} lol

[09:21] {Threei} what happens if yu type SPY manually in chart?

[09:21] {larisa} chart says : leave me alone :)

[09:21] {Les} no. create new chart, no problem. just not spy

[09:21] {Threei} well, that's standard reaction on Les by most involved {GGG}

[09:22] {Les} grrrrr

[09:22] {Threei} why create new chart?

[09:22] {Threei} just type in existing one?

[09:22] {Les} did it. no go

[09:22] {Threei} weird

[09:22] {Threei} never encountered that

[09:23] {Les} just typed sqnm in chart. it changed level 2 as well. works fine

[09:23] {Les} whatever. got external chart I use right now.

[09:24] {Threei} do you get FAS/FAZ?

[09:24] {Les} could be a demo version problem

[09:24] {Les} fas faz yeh was trading them fine

[09:24] {Threei} OK

[09:24] {Threei} no opening trades

[09:25] {Threei} I didn't like at all how market behaved on the open yesterday,

[09:25] {Threei} and today is likely to be worse

[09:25] {Threei} we get plenty of opportunities later ln when things stabilize

[09:25] {Threei} no need to dive into this extreme volatility

[09:26] {Threei} if something very tempting comes along during first 5-10 min, let's do half lot

[09:28] {Les} funny, no problems qqqq

[09:29] {Les} what is ticker for checking the dow index on laser?

[09:29] {Threei} $dji

[09:29] {Les} ty

[09:31] {Les} $ back to previous high

[09:32] {Threei} US) US FinReg Committee's Frank: All derivates will be required to be disclosed; final bill will provide a shareholder vote on pay for executives

[09:32] {Threei} NYX NYSE and AMEX reportedly experiencing some technical issues with delivery to the broker hand held machines

[09:33] {Threei} look at FAZ

[09:33] {jfjf64} mornin

[09:34] {Threei} that's what I meant by abnormal risk at the open

[09:34] {Threei} jf :)

[09:36] {Threei} ok, first try

[09:36] {Threei} FAS

[09:36] {Threei} .90 break

[09:37] {Threei} invalidated

[09:37] {Threei} remember, all trades half lot for now

[09:37] {Threei} BP Exec: Wednesday is the earliest data "top kill" technique could be attempted on leaking well (40.83, -1.03, -2.46%)

[09:38] {Threei} valid again

[09:38] {Threei} same setup

[09:40] {Threei} no go

[09:42] {Threei} let's see if we get double bottom

[09:42] {Threei} under .40,

[09:42] {Threei} recross if holdng .30

[09:43] {Threei} 1:1 in a blink

[09:43] {shorty} i got it

[09:43] {Threei} 1:2

[09:43] {KSystems} hi

[09:43] {Threei} KS :)

[09:43] {Threei} get out shorty

[09:43] {Threei} not a time to be a hero

[09:43] {shorty} i did as soon as it reached 1:1 ty Threei

[09:44] {Threei} bite your little piece and stay safe

[09:45] {dino} turnaround tuesday perhaps

[09:46] {Threei} gotta get one pullback first though

[09:46] {Threei} we have numbers at 10

[09:46] {Threei} US) May Consumer Confidence due out at 10:00ET

[09:46] {Threei} **consensus expectation: 58.5e v 57.9 prior

[09:46] {dino} xlf l .00

[09:46] {Threei} US) Preview: May Richmond Fed Manufacturing Index due out at 10:00ET

[09:46] {Threei} **consensus expectation: 26e v 30 prior

[09:47] {Threei} US) Preview: March House Price Index (m/m) due out at 10:00ET

[09:47] {Threei} **consensus expectation: 0.0%e v -0.2% prior

[09:50] {Threei} Long Setup: LVS 20 break

[09:51] {Threei} stop under .90

[09:51] {magoo} in

[09:51] {shorty} missed it

[09:52] {dino} clf sm l .25

[09:53] {Threei} not a scalp if works

[09:53] {dptl} still valid to get in?

[09:54] {Threei} on the break, yes

[09:55] {Threei} no go

[09:55] {Threei} not off radar, let's wait out numbers

[09:56] {dptl} wnc?

[09:59] {Threei} still liking LVS...

[09:59] {Threei} US) MAY RICHMOND FED MANUFACTURING:26 V 26E

[09:59] {Threei} let's see if market helps

[10:00] {dino} not yet

[10:00] {Threei} US) MAY CONSUMER CONFIDENCE: 63.3 V 58.5E

[10:00] {Les} change of heart

[10:01] {Threei} *(US) MARCH HOUSE PRICE INDEX (M/M): +0.3% V 0.0%E

[10:01] {Threei} - Q1: -3.1% v -0.1% q/q (

06[10:01] * Threei slaps lasertrev around a bit with a large alarm clock

[10:02] {lasertrev} lol, gm

[10:02] {Threei} (KS) North Korea plans to sever all inter-Korean relations

[10:02] {dino} no more nookie nookie

[10:02] {Threei} LVS is a mover

[10:03] {dino} big bounce coming

[10:03] {Threei} very much looks like that

[10:03] {dino} bwld sm l .15

[10:03] {Threei} anyone reentered LVS?

[10:04] {shorty} nope

[10:04] {Les} no

[10:04] {magoo} out LVS .43 ty vad..took second recross

[10:05] {Threei} :)

[10:05] {Threei} FAS

[10:06] {Threei} watch for pullback to about 21

[10:06] {Threei} ideally, drop under it and recross

[10:07] {jfjf64} lvs leg down

[10:07] {Threei} FAS touched 21 but I can't imagine being able to get in

[10:08] {Threei} unless order was waiting, which I wouldn't do in this case

[10:08] {Threei} getting there.. come on, a bit more

[10:08] {dptl} wher would be your stop?

[10:08] {Threei} where would it bottom before recross?

[10:09] {dptl} .84?

[10:09] {Threei} ??

[10:09] {Les} fas support .88

[10:09] {Threei} come on...

[10:09] {Threei} this is routine we play so often

[10:09] {Les} out +.09 fas

[10:09] {Les} ty

[10:09] {dptl} i don't get it

[10:10] {Threei} it loses 21, dances between .95 and 21, crosses back - your stop under .95

[10:10] {Threei} stopp depends opon the support it forms

[10:10] {dptl} fas???

[10:10] {RonS} V is showing relative strength

[10:11] {Threei} if it loses .95 and forms range .90 - .95 - then you take .95 cross and stop is under .90

[10:11] {Threei} what is so surprising for you?? :)

[10:11] {dptl} ok what time it dances .95 -21

[10:11] {Threei} huh?

[10:12] {larisa} time for consolidation needed he asks :)

[10:12] {shorty} it's too fast for me to call.

[10:12] {Threei} over 1:2

[10:12] {larisa} I do not get those recross plays too dp, you are not alone :)

[10:12] {Threei} you guys..

[10:13] {Threei} we play them for I don't know how long

[10:13] {magoo} 9 years vad

[10:13] {dptl} i didn' get it.......

[10:13] {jfjf64} ok vodka 4 all

[10:14] {magoo} in

[10:14] {magoo} the vodka that is

[10:14] {jfjf64} lol

[10:14] {jfjf64} vad dptl also

[10:14] {Threei} I don't even know what to tell... it seems so stgraighforward to me, and we did it so many times, I am at loss what to explain about it

[10:14] {Threei} it's like you slept through the last couple years

[10:15] {dptl} {&Threei} it loses 21, dances between .95 and 21, crosses back - your stop under .95.....when was it?

[10:15] {Threei} it wasn't!

[10:15] {Threei} it was me xplaining how it works

[10:15] {Threei} in advance

[10:15] {Threei} before it happened

[10:15] {dptl} ah....thats where i got confused......jeez

[10:15] {Threei} 10:08] {dptl} wher would be your stop?

[10:15] {Threei} [10:08] {Threei} where would it bottom before recross?

[10:15] {Les} i grabbed it. hit .98 briefly and then crossed back over

[10:16] {dptl} i thought it alredy did

[10:16] {Threei} you asked hypotetical;

[10:16] {Threei} I answered how to structure it

[10:16] {Les} missed this damn move now though

[10:16] {Les} dino, kick xlf a bit will ya!

[10:17] {dptl} i need to relax...........

[10:17] {Threei} I don't even know why you were tense in a first place

[10:18] {jfjf64} breath

[10:21] {Threei} EUR/USD FX rumor circulating that ECB mulling additional rate cut (related EUR/GBP EUR/JPY BUNDS SOVRX FEZ )

[10:23] {magoo} short dptl rading skills right here

[10:23] {Threei} hunt is on again FAS

[10:23] {Threei} too late

[10:23] {Threei} never mind

[10:23] {Les} long aig .03 small shares

[10:24] {Threei} .15 - .25 range formed

[10:24] {shorty} I took at .21 Threei out .36

[10:24] {Threei} ok

[10:24] {Threei} good to know someone listens :)

[10:24] {shorty} :)

[10:24] {dptl} i listen always,i just can't get for some reason

[10:25] {Threei} I'll try again over the bottle of Russian Standard :)

[10:25] {dptl} :) ok

[10:25] {Threei} but on serious note guys,

[10:26] {Threei} in couple hours let's do a 10 min quick educational blurb on this

[10:26] {Threei} deal?

[10:26] {Threei} 'case last thing I want is to be a stock caller

[10:26] {Les} do we get russian standard with that?

[10:26] {Threei} I want you to know how I call them

[10:26] {larisa} when you actually start to look for recross plays, vad with 5 cent stop. When you think stock is bottoming, or ready for a bounce or what/ I am intersting what triggers the hunt :)

[10:26] {Threei} no, it's your form of bribe to me Les

[10:26] {Threei} get wirth the program

[10:26] {larisa} oh ok, I 'll wait

[10:26] {Les} :/ oh

[10:27] {Threei} yes larisa, that's what I intend to start with

[10:28] {Threei} sorry to disappoint Les {G}

[10:32] {Threei} (IA) UK PM Cameron: time to increase pressure on Iran with new financial curbs and asset freezes

[10:32] {Threei} because it worked so well in the past I guess

[10:33] {Les} son of a stockbroker, who dreams of becoming Churchill

[10:33] {Les} stick to the mandate given to you by the voters pal!

[10:33] {Threei} better than Churchuill's son dreaming to become a stockbroker... I like ambitiouss men

[10:35] {larisa} Churchill son was a journalist I think :)

[10:35] {Les} I wasn't flattering Churchill. The man was a military adventurer. loved throwing men and material at wasteful exercises

[10:35] {Threei} see? ambitions :)

[10:36] {Les} stopped AIG -.09

[10:38] {Threei} FAS acts with constant flow of these bounces

[10:39] {Threei} all too quick to call,

[10:39] {Threei} and that's the reason I am tryng to show how to play them

[10:39] {Threei} instead of calling each one

[10:39] {Threei} observe it

[10:39] {Threei} last minute it did .05 cross with jump to over .1`5

[10:42] {larisa} and it did top twice at .20 before that. does not stop you? I need serious explanation on this kind :)

[10:42] {Threei} .95 - 21 cross, a bit on a questionable side, but for hypoeractive scalpers 1:2

[10:43] {Threei} .20 is way too far from 21 - 21.05 range

[10:43] {Threei} plenty of room to take scalp before that,

[10:43] {Threei} or partial if market strengthens

[10:45] {Threei} no recross here

[10:45] {Threei} let it drop more

[10:45] {Threei} or stabilize

[10:47] {magoo} wow RIMM 57 area vad

[10:47] {magoo} aapl rotting

[10:47] {magoo} new low BIDU

[10:48] {Threei} techs are seriously out of favor

[10:48] {magoo} and GS 5 points off bottom

[10:51] {dino} hmmm

[10:51] {Les} stopped xlf -.08

[10:51] {Les} looking ominous

[10:53] {dino} using lod on it

[10:55] {Les} figured you were

[10:58] {magoo} genz

[10:58] {magoo} genz

[10:59] {Threei} 10:54 GENZ FDA approves Lumizyme for patients eight years old and up with pompe disease

[10:59] {Threei}

[10:59] {Threei} (US) Senate names participants on House/Senate conference committee for financial overhaul bill (related XLF )

[11:00] {strider} Who are the guys who get the early news like GENZ? How do we get to be one of them?

[11:00] {magoo} u need to ghang out with martha stewart

[11:01] {strider} Well it's not worth that much.

[11:01] {Threei} news was at 10:54

[11:02] {Threei} no one got it early

[11:02] {Threei} IMMU Receives Second Milestone Payment From Nycomed (3.20, -0.09, -2.74%)

[11:04] {Threei} 65% Oppose Nationalization of U.S. Oil Industry

[11:04] {Threei} god... someone seriuosly entertains that idea?

[11:05] {Les} sure, they'll do better than BP

[11:05] {Threei} no doubt

[11:06] {jfjf64} lvs vad .20

[11:06] {Threei} after this spike everywhere, I'd prefer pullback

[11:07] {Threei} direction is probably being defined,

[11:07] {Threei} now need a safe entry'

[11:07] {Threei} LVS, .10 - .15 zone,

[11:07] {Threei} FAS, .15 - .20

[11:07] {jfjf64} begining to see pullbk set up

[11:09] {Threei} here come pullbacks

[11:10] {Threei} LVS is there

[11:10] {Threei} 5 cents recross hunt is on for LVS

[11:11] {Threei} FAS, want a bit more drop

[11:11] {Threei} just a tad

[11:11] {Threei} ok

[11:11] {Threei} FAS is ready too, market help is last component

[11:12] {strider} LVS cross .10?

[11:12] {Threei} depends on which range it establishes to the moment when market starts turning up

[11:13] {Threei} Long Setup: LVS .10 break

[11:14] {Threei} Long Setup: FAS .20 break

[11:14] {magoo} in

[11:14] {magoo} in

[11:14] {Threei} FAS 1:1

[11:15] {Threei} LVS stop for scalpers under .05, day traders 20

[11:16] {magoo} out fas .37 ty

[11:16] {Threei} :)

[11:17] {Threei} LVS 1:1 for scalpers

[11:18] {Threei} stop to under .05 for day traders too

[11:18] {Threei} market weakens, no need to risak more than we have to

[11:19] {magoo} out lvs.+.05

[11:19] {dptl} out +.01 lvs

[11:20] {Threei} see how waiting for market to come to us gives safe entries?

[11:20] {magoo} HUH?

[11:20] {Threei} both trades are easy, stressfree, safe

[11:20] {magoo} when vad?

06[11:21] * Threei slaps magoo around a bit with a large reminder of his FAS and LVS profits, and the bottle of memory pills while we are at that

[11:21] {magoo} THATS WHAT I WANTED

[11:21] {Threei} lol

[11:21] {dptl} missed fas

[11:23] {Threei} FAS, this recross was doubtful, for hyperactive scalpers only, but worked like chartm

[11:23] {Threei} observe them

[11:23] {Threei} get a feel for how they woprk

[11:24] {Threei} I haven't asked this is a while, so larisa will forgive me, I hope:

[11:24] {Threei} guess who is on TV

[11:24] {dino} john galt

[11:24] {Threei} yeah right

[11:25] {RonS} Bunk Obummer

[11:25] {strider} The Grim Reaper/

[11:25] {strider} }

[11:25] {strider} ?

[11:26] {Threei} good one ron.. andf strider, you may want to protect yourself from thr Virus of Bad Typing that I spread around so freely

[11:26] {strider} Doing that on purpose. Brown-nosing.

[11:26] {strider} I meant broner0noosiing.

[11:28] {dptl} vvus?

[11:29] {Threei} probably bounce on .45 break

[11:29] {Threei} but not too jazzed overall

[11:30] {dptl} ok

[11:34] {dino} out clf .65, +.40

[11:34] {Threei} wtg

[11:34] {dino} ty, back in 20

[11:47] {magoo} .

[11:50] {Threei} feels like market is getting ready to reverse back up

[11:50] {Threei} time is not very approproate

[11:50] {Threei} but...

[11:52] {Threei} (US) Treasury Sec Geithner to request Europeans consider the implementation of a banking stress test - CNBC citing officials

[11:52] {Les} hahaha

[11:53] {dptl} stopped abx -.09

[11:53] {dptl} shorted on .40 break

[11:56] {Threei} strong feeling is, marlet goes for break of the high

[11:57] {Les} l lvs .37 sm. lets see if it runs

[11:58] {Threei} market break

[11:58] {Threei} but your entry of LVS is horrific

[11:58] {Threei} vertical spike

[12:00] {Les} true. small shares larger stop

[12:01] {Threei} that's fine as far as tarde managemet and risk control go, but still - there should be setup for entry

[12:01] {Threei} and buying into sharp spike goes against core principles of tape reading

[12:10] {Threei} FAS dive to .40 for bounce watch

[12:12] {dino} cf sm l .51

[12:13] {Les} i see I got shaken out of xlf too easily

[12:14] {Threei} you our LVS or trying to milk it?

[12:14] {Threei} out

[12:15] {Les} was trying to milk but accidently set a sell order on it. damn. out .59

[12:15] {dino} yeah i see that les

[12:15] {dino} 1:1 on it

[12:15] {Threei} how do you accidentally sell??

[12:16] {dino} lol 3i, but i've done it

[12:16] {Les} with stop in place, I switch level 2 mouse order over to MKT for selling into spikes. must have accidently touched it.

[12:17] {jfjf64} lvs somethin else

[12:17] {dino} out xlf .15, +.15

[12:17] {strider} I'm not getting executions

[12:17] {Threei} something's not right Les

[12:17] {Threei} what do you mean by

[12:17] {Threei} "switch level 2 mouse order over to MKT "

[12:18] {Threei} it simply moving cursor to hover over another buttown

[12:18] {Les} I didn't have a limit order planned for selling into

[12:18] {Threei} what to switch?

[12:18] {Les} just a market order

[12:18] {Threei} what action "switching" involves?

[12:19] {Les} wait

[12:20] {Les} http://uploads.mibbit.com/cGExCm.gif

[12:20] {Threei} OK

[12:20] {Threei} wrong layout

[12:20] {Threei} do this:

[12:21] {Threei} Menu

[12:21] {Threei} View

[12:21] {Threei} make sure you have checked lines:

[12:21] {Threei} level 2 mouse syle

[12:21] {Threei} level 2 button style syle

[12:21] {Threei} done?

[12:22] {Les} yeh

[12:22] {Threei} see two buttons now, for each buy and sell?

[12:22] {Threei} limit and market?

[12:22] {Les} but I prefer manually switching MKT and LMT

[12:22] {Threei} ok than

[12:22] {Les} if you give the setup and sell targets

[12:22] {Les} I'll use limit orders

[12:22] {Threei} waste time and hit wrong buttons

[12:23] {Threei} instead of just moving cursor beween liomit and market

[12:23] {Threei} my setup has BOTH

[12:23] {Threei} how is it different from manulaly switching, pnly muc faster?

[12:23] {Threei} only much faster

[12:23] {Les} will try, but if in heat of battle I'm hitting wrong button like I did there I will switch back

[12:23] {Threei} you just did hot wrong button

[12:24] {Threei} because your setup demand more clicksa

[12:24] {Threei} mine is simpler

[12:24] {Les} no, I had cursor hovering over the sell button I think. I should have been clear of the buttons

[12:24] {Les} will try yours, doesn't hurt

[12:24] {Threei} gosh... you make me feel like I convince you to use more efficient things

[12:24] {Threei} no more

[12:25] {Les} another false disputing argument... like "but" :)

[12:27] {dptl} vvus .60 break?

[12:28] {Threei} didn't we discuss .45 break a while ago?

[12:28] {dptl} yes

[12:28] {dptl} dif set up,...no?

[12:28] {Threei} I wasn't too delighted by that one... why would I be more inclined to taje .60? :)

[12:29] {Threei} problem with VVUS is not even chart,

[12:29] {Threei} problem is it trades like it's in coma

[12:29] {Threei} no drive

[12:29] {Threei} just not its time

[12:29] {Les} what does ticking short on level 2 button style do? I need that to be able to go short?

[12:29] {Threei} it's like jellyfish in the current

[12:29] {Les} AIG 33 long?

[12:29] {Threei} no, that's uselss box as far as I am concerned

[12:30] {Threei} never saw it changing anything

[12:30] {Les} ok

[12:30] {Threei} some rudimentary thing I'd think

[12:30] {Threei} AIG is nice chart but only with market help

[12:40] {shorty} l LVS .46

[12:41] {shorty} stopped

[12:48] {jfjf64} aig ty

[12:48] {jfjf64} in .06

[12:49] {Les} it was strong despite market pullback wasn't it. was too gutless to grab the 2nd entry

[12:49] {jfjf64} was fightin too hold on

[12:50] {dino} fdx sm l .

[12:50] {dino} .00

[12:52] {strider} what's your stop, dino?

[12:58] {Threei} out yet jf?

[12:58] {Threei} EU regulators reportedly urge EC to adopt derivatives rules ahead of schedule

[12:58] {Threei} - regulators say monitoring markets after German short selling ban

[12:58] {jfjf64} y

[12:58] {jfjf64} .26

[12:58] {Threei} :)

[12:58] {jfjf64} slipp gettin in

[12:58] {jfjf64} .06

[12:59] {Threei} don't use crappy brokers

[12:59] {jfjf64} but all nice nice

[12:59] {Threei} US) Fed's Bullard: Disappointed in the unemployment figures; data is heading in the wrong direction - Q&A

[12:59] {Threei} Ok guys, 10 min of educational rant?

[12:59] {Les} wait. let me drink my whiskey first

[13:00] {Les} then I'll be ready for school

[13:00] {jfjf64} ditto

[13:00] {Threei} I have different associations for some reason involving ponytails... but whatever

[13:00] {Les} ha! if only i coulda done that back in high school. I'd have my diploma

[13:01] {Threei} ok

[13:01] {Threei} recross routine

[13:01] {Threei} gets deployed in 3 cases:

[13:01] {Threei} 1. bottom fishing on sharp selloffs as a trend reversal setup

[13:02] {Threei} 2. bounce scalp on orderly downtrending stock

[13:03] {Threei} 3. pullback entry on uptrending stock

[13:03] {Threei} obviously first case is the most risky

[13:03] {Threei} usually we want to see a setup like double bottom

[13:04] {Threei} but this one works too - providing controllable volatility

[13:04] {Threei} and selloff deep enough to exhaust seling.

[13:04] {Threei} Second case is not my favorite as I prefer to trade with trend, not against it

[13:04] {Threei} but it has its place

[13:05] {Threei} and third is where using this approach is the most pleasing to my heart.

[13:05] {Threei} Where:

[13:05] {Threei} normally, I start hunt for this setup when a stock pulls back to solid suport level

[13:06] {Threei} let's look at FAS

[13:06] {Threei} 10:10 - 10:15

[13:07] {Threei} 21 is natural support level, whe we drop to this kind of support I am happy to start hunting

[13:07] {Threei} 10:30

[13:07] {Threei} to 10:45 roughly

[13:07] {Threei} bouncing around same support

[13:07] {Threei} 10:50,

[13:08] {Threei} this reversal I missed

[13:08] {Threei} why?

[13:08] {Threei} no indication, no solid support there from the previous chart

[13:08] {Threei} 11:25

[13:08] {Threei} 21 again, can start looking

[13:08] {Threei} 11:35

[13:08] {Threei} 11:47

[13:09] {Threei} strong uptred since then,

[13:09] {dptl} 10.50 it broke it .20.c to .80

[13:09] {Threei} pullback comes from 21.65

[13:09] {Threei} and 21.50 becomes new level of tracking it

[13:10] {Threei} there is some art involved, it's not exact science of course'

[13:10] {Threei} but then again, everything in trading is a mix of both

[13:10] {Threei} How:

[13:10] {Threei} stock drops in your hunt area,

[13:10] {Threei} you observe it for stabilizing and forming mini-range,

[13:11] {Threei} with less volatile ones it can be 5 cents,

[13:11] {Threei} more often it's 10

[13:11] {Threei} you have strong support around 21,

[13:11] {Threei} stock breaks it,

[13:11] {Threei} pauses,

[13:11] {Threei} meakes couple bars between 21 on upper side

[13:11] {Threei} and let's say 20.90 on the lower

[13:12] {Threei} you got yuour mini-range

[13:12] {Threei} break of 21 markets reversal setup,

[13:12] {Threei} desirably woth market help of course,

[13:12] {Threei} and for things like FAS it's not just desirable,'

[13:12] {Threei} it's necesary

[13:13] {Threei} that range defines your trigger and stop

[13:13] {Threei} if you look at this moment from the chart formation point of view,

[13:13] {Threei} closest thing you see is inverted head and shoulders

[13:14] {Threei} Normally, I want to see at least two-three movements up and won definign the range

[13:14] {Threei} sometimes you can't even see them on one minute chart if the occure within one minute on a fast stock

[13:14] {Threei} so must watch it real time, level 2 and T&S

[13:15] {Threei} thiongs that dive briefly under support and immediately break back up and necver look back - those I tend to miss

[13:15] {Threei} Targets:

[13:16] {Threei} if we are talking about first case, major hunt for major reversal, I want to see more than scalp after powerful selloff,

[13:16] {Threei} I will partial of course to control risk

[13:16] {Threei} but overall, big selloff leads to big bounce - IF we got the bottom right.

[13:16] {Threei} Since countre-trend trading is always a dicey proposition,

[13:17] {Threei} partialling out to lock in profit and control risk coupled with holding second half for "milking" kind of combines both purposes.

[13:17] {Threei} Second case is just scalps

[13:17] {Threei} bounces on downtrending stock do not deserve more

[13:18] {Threei} Third case is matter of taste,

[13:18] {Threei} if we have strong uptrend, I'll be more inclined to partial around 1:1 and hold the balance

[13:19] {Threei} if it's like today, scalps are more like it

[13:19] {Threei} Did I miss anythng?

[13:19] {Threei} any questions?

[13:20] {dptl} same can be on short side?

[13:20] {Threei} loud snor was his answer

[13:20] {RonS} order entry execution on re-cross?

[13:20] {strider} Does a quick spike below your conditional support violate the setup?

[13:20] {Threei} principle is the same dp, but I never found short be so precise as long on this kind of plays

[13:20] {shorty} "Yawn" did I miss anything?

[13:21] {Threei} limit a cent or two above the trigger, Ron

[13:21] {strider} iow, do you moved down to the next range on a spike.?

[13:21] {strider} spike down?

[13:21] {RonS} ty

[13:21] {strider} and back up?

[13:21] {Threei} if it stays there for a few, it simply establishes new range, strider

[13:22] {Threei} if it immediatly spikes back up, it goes in that category "I usually miss those"

[13:22] {strider} k, so in your mind, it's in valium idated

[13:23] {Threei} have a look at AIG for fresh example

[13:23] {Threei} spike to .40,

[13:23] {Threei} closest solid support is .20,

[13:23] {Threei} 13:07, it dfrops to .16

[13:24] {Threei} .20 recross becomes a setup

[13:24] {Threei} looking at all of them, see inverted H&S?

[13:24] {Threei} sometimes ugly

[13:24] {Threei} sometimes more or less pronounced

[13:25] {Threei} if you haven't really traded this, slept through last three-five years I call it regularly - paper trade it, observe to get a feel for it

[13:29] {jfjf64} nice lesson vad makes little more sence ty

[13:29] {dptl} yes ty

[13:29] {jfjf64} how ya know all this

[13:29] {Threei} you mean not everyone snorred through that?

[13:29] {jfjf64} lol

[13:29] {Threei} hell...

[13:30] {Threei} I trade evert bleeping day for the last 14 years

[13:30] {Threei} I watch and make conclusions

[13:30] {strider} do you think that setup, which seems to be really a special case of dbi or jbe, is valid in more places than those 3 you've described?

[13:31] {strider} iow, if you just hunt for mini-ranges, do you think there'd be a statistical advantage to take those trades wherever you find them?

[13:31] {Threei} I guess you can view it as a variation of JBE or DBI, in a sense of breaking the resistance in order to trigger a trade

[13:31] {RonS} nice 3i, i watch and make Costanza confusions...

[13:32] {larisa} what you describe are normal setup trades. With establishes support/res/ranges. What i was confused with : the ones that you say about ; starting the hunt : .15 recross with .10 stop, if does not work .10 recross with .05, then .05 with .00 stop. etc. when starting at .15, do you already have .00 support for it ? Do I make any sense? :)

[13:33] {Threei} I don't know how to answer that strider... I am not jumping on any move anywhere in the chart, I want certain significant zones

[13:33] {strider} k

[13:33] {Threei} no larisa

[13:33] {Threei} meaning of that sequence is:

[13:33] {larisa} no sense ? :)

[13:33] {Threei} lol

[13:33] {Threei} meaning of that sequence is:

[13:34] {Threei} we start hunt for 5 cents recross setup at .15, so first idea of entry is:

[13:34] {Threei} drop under .15, holding .10, going back over .15

[13:34] {larisa} but stock already has support at .10 ?

[13:35] {Threei} if it doesn't break .15 and loses .10 instead, we have new setup .05 - .10

[13:35] {magoo} im to lazy to read all that scroll, what u guys talking about

[13:35] {Threei} only if it loses .15 and consolidates between .10 and .15

[13:35] {RonS} lol mags

[13:35] {Threei} so it forms this support

[13:35] {Threei} never mind mags, dp will drop by with bottle of vodka and discuss it with you

06[13:36] * strider slaps magoo around a bit with a large dunce cap.

[13:36] {Threei} AIG C&H break... crap

[13:36] {Threei} was going to watch for that and missed

[13:36] {Threei} do I make sense larisa?

[13:37] {Threei} zone of support around .10-.20 comes from bigger picture chart

[13:37] {Threei} defining the zone where I start the hunt

[13:37] {Threei} then mini range gets established by the srtock itself as it drops there

[13:40] {dptl} so if fas gets to 21 hunt is on again?

[13:40] {larisa} to me support from bigger picture of .10-.20 is broken, i am looking for shorts :) but may be it all just miscommunication, hard to discuss it without example

[13:40] {Threei} sure, but remember that FAS is very closely related with market

[13:40] {Threei} larisa, major disctinction is:

[13:41] {Threei} consolidation above the support and break is short, it's a DBI setup

[13:41] {Threei} sharp drop into support is rather bounce

[13:41] {Threei} that's why I limit this routine to those three cases

[13:42] {larisa} ok :) i do not have to like all you do, i will like 80% :)

[13:42] {Threei} hey, at that number you will be like 79% more than any other woamn on this planet

[13:42] {Threei} woman too

[13:43] {larisa} lol

[13:43] {Threei} so I am happy with that ")

[13:47] {strider} Can you get s&p also with symbol like $dji, or do you need to subscribe to something?

[13:48] {Threei} use SPY

[13:48] {strider} right. but can't get s&p data, like you can dow jones?

[13:49] {Threei} NO, FUTURES REQUIRE SEPARATE DATA

[13:49] {Threei} oops

[13:49] {strider} that's not futs. that's index.

[13:50] {Threei} oh

[13:50] {strider} I didn't know until this morning that I could get $dji.

[13:50] {strider} Just asking if the same is available for s&p.

[13:50] {Threei} hmmm... i don't think so but ask trev just in case

[13:51] {strider} Ok. Trev? :)

[13:52] {Les} A b/d of .50 and GENZ has dropped through significant support

[13:56] {lasertrev} dji comes with a package called gindex data

06[13:56] * magoo slaps lasertrev around a bit with a large trout

[13:57] {strider} I can get dji. What else is in the package?

[13:59] {ese} morning......had a show at city hall with my pop choir.......anybody here singing the blues or is it A ok

[13:59] {lasertrev} dont think s&p is included with that

[13:59] {lasertrev} but will find out

[13:59] {lasertrev} should show up on bot. of laser

[13:59] {lasertrev} 3 or 4

[13:59] {lasertrev} boxes

[13:59] {Threei} ese :)

[14:00] {strider} I've changed those syms, and would need to know what the s& p sym is to find out.

[14:01] {lasertrev} strider dcc

[14:03] {Threei} (US) Fed Discount Rate Minutes: Directors are cautious on outlook; vote was 9-3 to maintain rate at 0.75%

[14:03] {Threei} - note consumer spending is better than anticipated

[14:03] {Threei} - directors voiced concern on budget gaps and possible impact on Govt spending and employment levels

[14:03] {Threei} - St Louis, Dallas and Richmond Fed voiced opinion to increase discount rate to 1%

[14:12] {RonS} 3i, is gs winding up to run?

[14:13] {Threei} whole market looks this way to me...

[14:13] {magoo} very strong GS

[14:14] {dino} turnaround tuesday

[14:14] {dino} sm l idsa .21

[14:16] {Threei} Long Setup: FAS .50 break

[14:17] {magoo} in

[14:18] {Threei} SPY needs to take 106

[14:19] {dptl} in

[14:19] {dptl} .51

[14:19] {dptl} stop under .40

[14:19] {Threei} 1:1, half out

[14:20] {dptl} out +.10 ty

[14:20] {magoo} out

[14:20] {magoo} ty

[14:20] {RonS} out .11 ty

[14:20] {Threei} full room of scalpers

[14:21] {magoo} pavlonion conditioned vad

[14:22] {RonS} my favorite onion

[14:22] {jfjf64} lvs any read sensi

[14:23] {Threei} lol

[14:23] {Threei} hmmm

[14:23] {Threei} LVS, not sure

[14:24] {jfjf64} .30-.35

[14:26] {Threei} YESSSS

[14:26] {Threei} finally, slavation is here!

[14:26] {Threei} BP US President Obama scheduled to travel to Louisiana on Friday to observe efforts on oil spill

[14:26] {Les} hehehe his own Katrina fast catching up with him

[14:27] {dino} observe, big deal, just turn on the tv

[14:27] {Threei} Lord, I know out of all my sins sarcasm is one you won't notice, so overwhelming ar the rest... si I'll abuse this one as much as I can

[14:27] {Les} all out .74 fas ty

[14:27] {Threei} welcome

[14:28] {Threei} ese, look dcc please

[14:29] {Les} was a bit tight on fdx first time dino, but caught it here for +.43

[14:29] {Les} tight on stop - got stopped

[14:29] {jfjf64} we gettinn push

[14:32] {strider} Sprint at $5

[14:32] {dino} gj, i'm going wider w/these swings in markets

[14:32] {dino} fcx green

[14:32] {Les} yeh understood that after couple of stops today

[14:38] {Threei} anyone tried FAS on pullback to .50?

[14:39] {jfjf64} watchin lvs

[14:41] {shorty} shorted .77 covered .66

[14:44] {Threei} careful

[14:44] {Threei} shorting is a good way to get burned now

[14:44] {shorty} got it

[14:47] {Threei} up up and away

[14:47] {Threei} turnaround it is dino

[14:47] {dino} giddy-up

[14:48] {magoo} RIG

[14:48] {magoo} AAPL

[14:48] {Les} nice on jf. scored +.19 on lvs

[14:48] {Threei} FAS gave perfect .80 - .85 on the last pullback

[14:49] {jfjf64} bulls runnin

[14:49] {jfjf64} yes

[14:49] {jfjf64} i think i lk this

[14:50] {dino} axe murderer market, "untrusting", out cf .33, +.82

[14:51] {ese} vad......ddc

[14:51] {Threei} Fox Business's Gasparino: FDIC may have to close down Chicago's Shorebank within a year; sources indicate its a 'sinkhole'

[14:51] {Threei} no really?

[14:52] {Threei} that one was identified as one of the worst abusers of political push and shive

[14:52] {shorty} Have a great day guys. Thanks for the lesson Threei. See you all tomorrow.

[14:52] {Threei} take care shorty

[14:52] {Les} ciao

[14:52] {Threei} wait...

[14:52] {Threei} lesson?

[14:52] {Threei} what lesson?

[14:52] {Threei} did I talk in my sleep again?

[14:52] {jfjf64} wow aig up buck from entry vad

[14:53] {dino} wait shorty out fdx .88, +.88

[14:53] {shorty} Don't worry, as soon as I crack this bottle of rye, I will forget everything.

[14:54] {shorty} nice dino.

[14:54] {dino} ty bud

[14:54] {Threei} ok... why do I not remember anything, and what is this empty bottle of Glenlivet doing on my desk?

[14:54] {jfjf64} nice dino

[14:54] {dino} ty

[14:54] {jfjf64} oh boy

[14:54] {Les} cause you hire employee for burger wage who has been teaching us?

[14:55] {Threei} sharp pullback is coming i seems

[14:55] {Les} while you are drinking like russian in front of tv

[14:55] {jfjf64} did ya start before our lesson TODAY

[14:55] {dino} $7.25/hour today for burger flippers

[14:55] {Threei} watch FAS for entry around 22

[14:56] {Threei} here we go

[14:56] {Threei} how's that for sharp pullback

[14:57] {Threei} let's see how that lesson went... anyone got .05 FAS?

[14:58] {Les} huh?

[14:58] {Les} no. thought market had further to drop. so didn't touch

[14:59] {Threei} almost 30 cents quick drop

[14:59] {Threei} named area to watch for entry

[14:59] {Threei} [14:55] {Threei} sharp pullback is coming i seems

[14:59] {Threei} [14:55] {Threei} watch FAS for entry around 22

[14:59] {Les} ok, so fas can move independently of market. will remember that.

[14:59] {Les} yeh, was watching it

[15:00] {Threei} SPIR Signs deal to supply solar simulator (3.70, +0.02, 0.54%)

[15:01] {strider} a fake sun?

[15:01] {Threei} yeah, what's up with that

[15:01] {Les} oh, i thought it was something we could play with

[15:01] {strider} every morning:)

[15:01] {RonS} solar stimulator

[15:02] {Threei} Spires simulators have become the benchmark for PV module testing with a majority of the worlds manufactured modules tested with Spire simulators

[15:02] {RonS} paris hilton could do ads: That's Hot...

[15:03] {strider} FCX 67

[15:03] {RonS} dino, this idsa is like the gunfight at the OK corral

[15:05] {dino} careful w/it trades by appointment

[15:05] {dino} towards end of day usually pops up .50 or so

[15:06] {dino} thinny

[15:06] {jfjf64} lvs fill gap

[15:06] {Threei} sheesh

[15:07] {Threei} just wanted to say FAS .30 -.35

[15:07] {Threei} it was at .49 by the time I typed

[15:07] {magoo} skype

[15:08] {Threei} don't even

[15:08] {magoo} i cant call mine out either

[15:08] {magoo} made fortune RIG

[15:08] {magoo} new respect for u tho vad, to get it typed in in time

06[15:08] * strider slaps magoo around a bit with a large low-resolution picture of VAD

[15:09] {Threei} if it trades so fast that it's hard to alert, it will be to fast for someone to follow

[15:09] {magoo} HEY, i just told u i admire u

[15:09] {Threei} I appreciate that

[15:09] {Threei} just explaining my reasons for not going skype route

[15:10] {Les} fas .50 break?

[15:10] {Threei} not even speaking of lack of desire to hear you guys snoring

[15:10] {Threei} sure, if holding .40

[15:11] {dptl} gg?

[15:11] {Threei} pullbacks are still the way to go on momos

[15:11] {magoo} vad, i cant type it fast enough, but remind room here the risk of failure is increasing ok?

[15:11] {Threei} GG??

[15:12] {Threei} no dp

[15:12] {Threei} yes... magoo is right

[15:12] {Threei} as we move higher, breaks become more and more dangrerous

[15:12] {ese} signing off until tomorrow.....i'm outta sync here today can't really find or get a feel for things.......see ya later

[15:12] {Threei} take care ese

[15:12] {magoo} bye ese

[15:12] {magoo} magoo faints

[15:12] {ese} vad mags......

[15:12] {jfjf64} enjoy ese

[15:13] {ese} jf

[15:13] {magoo} [15:12] {&Threei} yes... magoo is right

[15:14] {magoo} magoo faints..head hits keyboard..it shorts rig..makes a buck

[15:14] {Threei} lol

[15:14] {magoo} thats team work

[15:24] {Threei} very impressive recovery today

[15:25] {strider} dow above 10k

[15:28] {dino} ron, idsa

[15:29] {jfjf64} look aig missed that nice pullbk

[15:29] {RonS} wtg dino, i bailed at -.02

[15:29] {RonS} but, employed 3i's lesson on faz for +.06

[15:29] {magoo} someone way earlier typed in green close

[15:30] {magoo} hint-hhes a cartoon character

[15:31] {dino} bummer on the bail, but good stop in any case

[15:31] {dino} dino

[15:31] {Les} strider?

[15:31] {dino} turnaround tuesday

[15:31] {strider} what?

[15:31] {magoo} shit, hes a cartoon too

[15:31] {magoo} mr magoo

[15:31] {Les} hehehe

[15:31] {Threei} lol

[15:32] {Les} oh look after hanging yesterday on our FAS long when market reversed, was going to leave guessing to others

[15:36] {Les} was long spy at 105.08 @ 15:36. didn't think to stick with it and pick it up again 15 min. later.

[15:36] {Les} 09:36 your time

[15:37] {dino} 3:37 my time

[15:38] {Les} a wide dino stop on such a small amount would have kept me in the trade

[15:38] {Les} you are in hawaii dino?

[15:38] {dino} no, pennsylvania

[15:39] {Les} no, was talking about 15:36 MY time

[15:39] {jfjf64} long island dino get togetger 4 drink

[15:39] {Les} I was long SPY at the open

[15:39] {dino} les wide stops on small shares. use a $ amount. whippy days like lately, widen a bit more or size down more. but whatever happen no more than $250 loss

[15:39] {dino} indeed jf

[15:40] {Les} no, I was much tighter than that. too tight

[15:41] {Les} and not going with trend either. stupid me, shorting GENZ as market does moon shot

[15:42] {dino} obamination asked congress yesterday for $200 billion stimulus two. like his first $800b did anything

[15:43] {Threei} Long Setup: FAZ .10 break

[15:43] {strider} Hey it's only paper, man. What's the big deal:)

[15:43] {Threei} if stays above .05 for scalpers

[15:43] {Threei} 16 for a bigger trade

[15:44] {Threei} 1:1 scalpers

[15:44] {Threei} 1:1 day traders

[15:44] {Threei} how much easier can it be?

[15:44] {Les} I shorted

[15:44] {Les} and then doubled down

[15:45] {Threei} huh?

[15:45] {dino} metals/miners strong

[15:45] {Les} sigh. controls are on opposite sides to IB

[15:45] {dino} fcx, clf $1+

[15:45] {RonS} out .10 thxs 3i

[15:45] {Threei} :)

[15:47] {strider} maybe we can gap up in the morning.

[15:48] {dino} rather we didn't, gaps usually get filled

[15:56] {strider} I'm holding GE overnight from 15.49.

[15:56] {strider} that's why I'd like a gap up, dino:)

[15:56] {strider} But i won't gap much, if at all.

[15:56] {strider} it

[15:57] {dino} gotcha

[15:57] {Threei} healthy day

[15:57] {Threei} maybe not stellar, but solid

[15:58] {dino} out bwld .76, +.61

[15:58] {dptl} have a good evening all

[15:58] {Threei} thank you all

[15:58] {Threei} have a good evening, see you tomorrow

[15:58] {Les} yeh ciao

[15:59] {dino} out idsa .43, +.21

[16:00] {strider} I missed those last two of yours, dino. wtg.

[16:01] {dino} wow ndx, s/p green

[16:01] {larisa} bye all

[16:01] {dino} bwld was long ago, idsa ron and i were talking about hour or so ago

[16:02] {strider} not paying good attention.

[16:02] {Threei} TIVO Reports Q1 -$0.13 v -$0.16e, R$61.4M v $43Me

May 24 2010

The day started on a shaky note as market jumped with not much rhyme or rhythm for a while, mixing wins with stops. Then things stabilized and we found a few very nice wins on FAS, FAZ, LVS - most for much nicer gains than normal.

Session Time: Mon May 24 00:00:02 2010

[08:01] {magoo} morning

[08:21] {Threei} US) Sen Gregg (R-NH): Some US States have similar problems to Greece - CNBC (update)

[08:21] {Threei} - California and Michigan have overspent

[08:21] {Threei} - Does not see how Germany can keep underwriting Greece

[08:22] {Threei} SNTA Results from Phase II trial of STA-9090 show clinical activity in non-small cell lung cancer

[08:27] {Threei} SEED Rodman & Renshaw, Inc. Resumed SEED with Market Perform, price target: $17

[08:29] {Threei} WFC

[08:29] {Threei} Wells Fargo & Co Treasury prices 110.3M warrants at $7.70/warrant

[08:29] {Threei} - The aggregate net proceeds to Treasury from the offering are expected to be $840,374,892. These proceeds provide an additional return to the American taxpayer from Treasurys investment in the Company beyond the dividend payments it received on the related preferred stock.

[08:29] {Threei} - The closing is expected to occur on or about May 26, 2010, subject to customary closing conditions.

[08:36] {strider} ODSY

[08:36] {strider} buyout offer

[08:36] {Threei} $27

[08:38] {dptl} good morning

[08:38] {Threei} dp :)

[08:39] {strider} CREE

[08:40] {strider} fslr

[08:40] {Les} morning

[08:40] {Threei} Les :)

[08:40] {Les} sorry for jumping the gun there friday

[08:41] {Les} or mouthing off without thinking too much

[08:41] {Threei} strider, could you have a look at your task manager,

[08:41] {strider} been watching it all morning.

[08:41] {Threei} see if the thing called indexsearching is running

[08:41] {Threei} and how much memory it's eating

[08:42] {strider} No.

[08:42] {strider} Index service filter daemon is.

[08:42] {strider} 45k in mem.

[08:42] {Threei} what windows do you have?

[08:42] {strider} XP pro.

[08:43] {strider} I upgraded from 8mg download to 16 over the weekend.

[08:43] {Threei} you may have ot upgraded to their ltest indexing mechanism then

[08:43] {strider} Also stripped unnec. memory hogs.

[08:43] {strider} ??

[08:43] {Threei} their index search is a serious memory hog

[08:43] {Threei} latest version at least

[08:44] {strider} currently have 25% Ram usage.....with 2 gig ram

[08:44] {Threei} I just remembered that I had similar problem to yours,

[08:44] {Threei} computer freezup for a brief period of time, a few seconds

[08:44] {Threei} spike in memory usage to 100% for that time

[08:45] {Threei} and killing this process mostly solved that

[08:45] {strider} k/ thanks. I'm watching mem usage today.

[08:46] {strider} I also have tended to run a CAD program in background. I'm killing that, at least at open.

[08:46] {Threei} still your usage looks horribly high

[08:47] {Threei} Laser, scanner, 5 tabs Chrome, IE, Outlook express and couple more programs run here routinely,

[08:47] {Threei} and when I sit still, memory usage is about 5%

[08:48] {Les} woha! you have how much memory on board?

[08:48] {Threei} 4G

[08:48] {Threei} EU) EU's Barroso: Calls Germany's desire to modify treaty as naive

[08:48] {Les} ok. 2 here, but it's enough

[08:48] {strider} If I don't get it straight with these mods, I'll get another 2 gig ram.

[08:49] {Threei} yeah guys, that's the eay to go - start insult germany

[08:49] {Threei} strider, do you have harddrive partitioned, or is it C only?

[08:50] {strider} I use a more detailed program called taskInfo.....has some features the infotask doesn't have ( I think). I can flush my RAM in just a few seconds.

[08:50] {Les} one thing I did to clean up my computer strider

[08:50] {strider} C only

[08:50] {Les} was to download ccleaner

[08:50] {strider} but using old partition type.

[08:51] {strider} forget what it's called.

[08:51] {Threei} OK... I have a few partitions, and I improved performance noticeanly by moving pagefile to other than C

[08:51] {Les} with ccleaner you can delete a lot of back ground programs that run on start up

[08:52] {strider} that's above my pay grade, vad. I'll look into that, have good friend that handles my computers.

[08:52] {ese} morning

[08:53] {Threei} 5 seconds operation if you have disk partitioned

[08:53] {Threei} ese :)

[08:53] {nemo} AWIAV?

[08:54] {Threei} yeah

[08:54] {Threei} in a blissful weekend oblivion

[08:54] {ese} whats new and exciting

[08:54] {Threei} Lost is over

[08:54] {Les} at 6am in the morning?

[08:54] {nemo} ahhh....I hit oblivion too this weekend, but I wouldn't call it blissful

[08:55] {Threei} ese, look dcc pls

[08:57] {strider} got RAM usage to 15%

[08:57] {strider} with 2gig

[08:58] {nemo} usage, or you only have 15% left?

[08:58] {Threei} what did you kill strider?

[08:59] {strider} mostly my CAD program :)

[09:00] {Threei} lol... why would you want to have it up during trading hours

[09:00] {strider} Also virus programs

[09:00] {strider} Because I get calls during the day and have to answer questions about drawings.

[09:00] {Threei} oh

[09:00] {strider} But I can keep it off at open.

[09:01] {strider} That's the onlly time I've had problems.

[09:01] {Threei} oh boy

[09:01] {Threei} RU) Russian PM Putin: Does not expect inflation to rise above 7% over next several years

[09:01] {Threei} and you think we got it bad?

[09:01] {strider} In fact, he insists on it.

[09:01] {nemo} GS strong this morning

[09:02] {strider} C upgrade

[09:03] {strider} But i don't (normally) run anything else on trading computer. All web stuff, email& other is on another one.

[09:04] {Les} interesting vad

[09:04] {strider} Also my MBT .

[09:04] {Les} found the performance monitor

[09:04] {Les} and the microsoft article: http://support.microsoft.com/kb/555223

[09:04] {Les} I see I can use more RAM

[09:05] {Les} as itunes maxes out pagefile usage

[09:05] {nemo} strider, you ever try ram defrag programs?

[09:05] {Threei} no such thing as too much RAM

[09:05] {strider} nemo...no.

[09:05] {Les} I see itunes is performance inhibitor on my pc

[09:05] {ese} agreed....no such thing

[09:05] {strider} but I have a 'free ram' program.

[09:06] {nemo} download ram def XT and run it, see if it frees up more RAM for you. Windows SUCKS at memory management

[09:06] {nemo} Les, your binky is here

[09:06] {Les} DP!

[09:07] {Les} smack him dino

[09:07] {strider} thanks. I'll try that later in the day.

[09:07] {nemo} bidu strong

[09:08] {magoo} tech strong..aapl, goog bidu

[09:08] {nemo} rimm not really

[09:09] {Les} thanks nemo. found your program. will try it out later

[09:09] {Threei} with the way market swang on Fri, it's a totall coin toss whether we see strength of selloff today,

[09:09] {Threei} or we see both

[09:09] {Threei} and in what order

[09:10] {dino} gm all

[09:10] {Threei} dino :)

[09:10] {strider} swang?

[09:11] {strider} you from west (by god) virginia?

[09:11] {Threei} I'll leave you to guess

[09:12] {strider} :)

[09:14] {strider} USB upgrade.

[09:14] {strider} Financials could be important today.

[09:15] {Les} found the level 2 mouse style on Laser. That makes life a bit easier

[09:15] {Threei} WFC...

[09:15] {Threei} not sure how the news impact it, chart is interesting

[09:15] {Threei} [08:29] {Threei} WFC

[09:15] {Threei} [08:29] {Threei} Wells Fargo & Co Treasury prices 110.3M warrants at $7.70/warrant

[09:15] {Threei} [08:29] {Threei} - The aggregate net proceeds to Treasury from the offering are expected to be $840,374,892. These proceeds provide an additional return to the American taxpayer from Treasurys investment in the Company beyond the dividend payments it received on the related preferred stock.

[09:15] {Threei} [08:29] {Threei} - The closing is expected to occur on or about May 26, 2010, subject to customary closing conditions.

[09:16] {Threei} something about SQNM chart makes me return to it

[09:16] {strider} ll.com: Sequenom mentioned positively at Lazard Capital

[09:17] {strider} The firm thinks the company should to be able to commercialize a Down Syndrome test by the end of 2011 and expects shares to rally on Dr. Lo's data this summer. :theflyonthewall.com

[09:23] {shorty} GOOD MORNING

[09:23] {Threei} shorty :)

[09:24] {RonS} Top o' the morning all...S...

[09:24] {RonS} dino, i show that DSW reports tomorrow a.m., fwiw

[09:24] {Threei} Ron :)

[09:25] {Threei} ok guys, skipping first minutes

[09:25] {Threei} then see what shapes up

[09:27] {Threei} SQNM is one of candidates

[09:27] {Threei} not a fast trade most likley

[09:27] {lasertrev} gm

[09:27] {Threei} and I'd like to see a pullback first,

[09:27] {Threei} trev :)

[09:28] {Threei} then entry with reasonably tight stop and climb with market strength

[09:28] {magoo} SQNM large shares or to thin?

[09:28] {Threei} 1 lot I think

[09:28] {Threei} it varies

[09:28] {Threei} trades normally for a while, then if gets hot becomes jumpy

[09:31] {Threei} watching AIG

[09:31] {nemo} whoa bidu

[09:31] {Threei} Long Setup: AIG .10 break half lot

[09:32] {Threei} stop under .95, not \a scalp

[09:32] {magoo} in

[09:33] {dptl} in.12

[09:33] {nemo} is it trading slowly?

[09:33] {Threei} and magoo, I am not kidding about half lot

[09:33] {magoo} to late

[09:33] {Threei} jumpy one on the open

[09:33] {nemo} ese half-lot?

[09:35] {ese} sorry nemo was following ...am following vvus

[09:35] {Threei} ok AIG, spike time

[09:35] {Threei} her we go

[09:35] {Threei} 1:1

[09:35] {nemo} jumpy as hell

[09:35] {ese} .50 break

[09:35] {nemo} on what ese?

[09:35] {nemo} ahhh

[09:36] {dptl} you out Vad?

[09:36] {Threei} half

[09:36] {dptl} stilk in

[09:36] {magoo} LVS moissed it

[09:36] {ese} L vvus .58.....slow fingers damn

[09:36] {jfjf64} mornin

[09:36] {Threei} [09:32] {Threei} not a scalp

[09:37] {Threei} jf :)

[09:37] {Threei} stop to under 36 for the balance

[09:38] {dino} ups sm l .35

[09:38] {ese} vvus stop to break even

[09:38] {Threei} nice setup ese

[09:39] {nemo} it's like the market is walking on eggshells

[09:39] {ese} tks........bad fill

[09:39] {ese} looked away for one second

[09:39] {Threei} out AIG

[09:39] {Threei} wash

[09:39] {ese} my own fault

[09:39] {dptl} sigh...stopped

[09:40] {dptl} could not get out at 1:1

[09:40] {Threei} why not hjave it laid outZ?

[09:40] {dptl} good ???

[09:40] {dptl} -.21 cheez

[09:41] {nemo} 60 grit trade

[09:41] {jfjf64} wfc s .15

[09:41] {nemo} is spy and Qs trading slowly?

[09:41] {Threei} wow

[09:41] {Threei} that's a whle lot of chasing jf

[09:41] {dino} ups stopped -.36

[09:42] {nemo} may be db on SPY

[09:43] {strider} long sqnm .07 stop 5.5

[09:44] {strider} 5.95

[09:44] {dptl} bp short?

[09:44] {Threei} too vertical drop

[09:46] {jfjf64} 1/1

[09:46] {magoo} LVS vad strong

[09:46] {jfjf64} out

[09:47] {jfjf64} 2nd 1/2 even

[09:47] {Threei} LVS needs dive under .50 and recross

[09:47] {Threei} with stop under .40

[09:47] {Threei} did that while I typed

[09:48] {Threei} pullback closer to .50 should be buyable

[09:48] {jfjf64} type faster pls

[09:48] {Threei} Long Setup: F .25 break

[09:48] {Threei} here is LVS agauin

[09:48] {Threei} same setup

[09:49] {jfjf64} in .51

[09:49] {dptl} l f .26

[09:49] {Threei} F stop for scalpers type 1 under .20, for day traders under .15

[09:50] {Threei} LVS 1:1

[09:50] {jfjf64} ty

[09:50] {Threei} should be capable of more with any market help

[09:51] {Threei} .80 at least

[09:51] {Threei} quite possibly more

[09:52] {shorty} out F

[09:52] {Threei} MGM Hearing takeover chatter circulating (timing uncertain) (12.56, +0.14, 1.13%)

[09:53] {dino} fdx sm l .50

[09:53] {Threei} very weird trading this morning

[09:54] {shorty} I might just call it a day if the next couple trades are rinses.

[09:54] {dino} stopped

[09:55] {dino} feeling the same shorty

[09:55] {Threei} no market cooperation

[09:55] {dptl} stopped f

[09:56] {Threei} second half LVS b/e

[09:57] {Les} am short bp as I experiment with laser. it is looking weak.

[09:58] {dptl} vz .55?

[09:58] {dptl} long?

[09:59] {Threei} I doubt it

[10:00] {Threei} US) APRIL EXISTING HOME SALES: 5.77M V 5.6ME (% M/M)

[10:00] {shorty} DELL Threei?

[10:00] {Threei} no play there

[10:01] {Les} scratch bp

[10:03] {Threei} Short Setup: WFC 29 break

[10:03] {Threei} if syas below .10

[10:04] {dptl} in.99

[10:05] {Threei} RGEN??

[10:05] {Threei} RGEN Receives Orphan Drug Designation from the FDA for RG2833 for Friedreich's Ataxia (3.57, +0.36, 11.21%)

[10:05] {Threei} unbelieavble jumpiness evetwhere

[10:06] {dino} dwa sm l .15

[10:06] {Threei} SEED is strong on that upgrade

[10:07] {dino} fcx sm l .00

[10:08] {Threei} let's cut WFC in half here

[10:08] {Threei} just to keep risk down

[10:08] {dptl} ?

[10:08] {Threei} ?

[10:08] {jfjf64} got hit wfc

[10:08] {dino} ?

[10:10] {shorty} out WFC full

[10:10] {dptl} stopped

[10:10] {Threei} second half stopped

[10:10] {dptl} got stopped i full

[10:11] {dptl} o boy....:(

[10:12] {jfjf64} lol

[10:16] {dino} out dwa .70, +.55

[10:17] {Threei} Rep Barney Frank selected to chair Financial Regulation Reform conference committee to reconcile the House and Senate bills - CNBC (related XLF )

[10:17] {Threei} nothing but the best for the job

[10:17] {nemo} Ahhhhhh.....the Potemkin Bill

[10:17] {nemo} bidu

[10:18] {nemo} hugging the open

[10:18] {dino} out fcx .15, +.15 mkt drop

[10:18] {Threei} market is trying to form C&H on 1 min

[10:18] {Threei} if it works, BIDU is .50 break long, and FAS 24 break long

[10:19] {nemo} big seller at .50 on Bidu

[10:19] {dino} tricked me

[10:19] {nemo} look at offer at .50 on bidu

[10:20] {nemo} market coughing up the furball

[10:26] {Threei} Long Setup: FAS .85 break if stays above .75

[10:27] {magoo} in fas

[10:27] {dptl} in

[10:28] {Threei} this is aggressive play for 24 break

[10:28] {magoo} yup

[10:29] {Threei} 10 cents stop vs about 15 cents for the first half and a lot more for second

[10:30] {magoo} mkts copperating

[10:30] {jfjf64} spy need to get over 109

[10:30] {nemo} 10:30 about time for a change

[10:30] {Threei} right jf

[10:30] {Threei} that's the play

[10:31] {jfjf64} c/h

[10:31] {Threei} after that market and FAS sgould be free

[10:31] {jfjf64} longs $$$$$\

[10:31] {Threei} whether it happens or not - as with all agressive entries, odds are about even

[10:31] {magoo} mkts feel UP to me

[10:32] {Threei} to me too

[10:32] {Threei} that's why I wanted aggressive entry

[10:32] {magoo} green close

[10:32] {Threei} break maybe very tough to get once it happens

[10:32] {magoo} in what?

[10:32] {magoo} lol

[10:32] {Threei} SMTS Confirms receipt of 510(k) Clearance From the FDA to Expand Features on Its Vital Sync Monitor (18.48, +0.61, 3.41%)

[10:33] {Threei} ]come on already, break out

[10:33] {jfjf64} aapl

[10:33] {magoo} aapl the tell here

[10:34] {dino} intc l .00

[10:34] {Threei} half out

[10:34] {ese} L nuan .63

[10:34] {Threei} +.15 as planned

[10:34] {dptl} out half

[10:34] {Threei} offer 1/4 at 24.15

[10:34] {dino} qcom l .00

[10:35] {Threei} stop to under b/e

[10:35] {strider} long sqnm .11

[10:36] {Threei} grrr SEED

[10:36] {Threei} why did I not believe Lazard

[10:36] {nemo} sounds too much like Lizard?

[10:36] {Threei} 1/4 more out

[10:36] {dptl} out more.15 ty

[10:37] {strider} dino, target for qcom?

[10:37] {Threei} now, for the last piece you have a choice here

[10:37] {Threei} out near .30, or just trail

[10:37] {magoo} out .21 TY

[10:37] {magoo} nice one

[10:37] {Threei} if trailing, stop to .95

[10:38] {ese} nice one all.....just checked out fas.......well done

[10:38] {Threei} market finally found footing

[10:38] {Threei} and not even in a sense of strength,

[10:38] {magoo} big green day imho

[10:38] {Threei} rather in a sense of starting following the pattern

[10:38] {nemo} more like a lucid hangover

[10:39] {Threei} market had this strong feel of surpise being prepared

[10:39] {Threei} gklad I trusted my instinct

[10:40] {dptl} all out .25 ty....a bit better now :)

[10:40] {Threei} OK, if you want to lock in profit, get out here

[10:40] {Threei} .31

[10:40] {Les} done ty. my first laser trade with stop and partials

[10:40] {Threei} for nice juicy 45 cents

[10:40] {Threei} wtg Les

[10:41] {Threei} if trailing, try to offer around .45

[10:41] {Threei} for even juicer 60 cents

[10:41] {Les} I was going to choose "StopT" but not sure how that works...

[10:41] {Threei} don't do it

[10:41] {Les} not trailing stop?

[10:42] {Threei} stupid function for stupid trading method

[10:42] {Threei} stop should not be trailed by a certain amount of cents

[10:42] {Threei} stop should be trailed by chart indication

[10:42] {Les} so trailing stop cannot be programmed in laser?

[10:42] {Les} ok, so we trail by chart indication

[10:43] {Threei} yes, and this must be done manually

[10:43] {Threei} how do you program that?

[10:43] {Les} fine. question answered ty

[10:43] {Threei} all trailing progranms trail by $ or %

[10:47] {dino} qcom stopped -.15

[10:47] {shorty} Done for the day. Cya tomorrow.

[10:47] {Threei} bounce should be around the corner

[10:47] {jfjf64} dndn mojo

[10:47] {Threei} take care shorty

[10:48] {Threei} ideally we get a drop under 24 on FAS

[10:48] {Threei} at which point recross hunt is on

[10:48] {nemo} .10 is 200 ma

[10:50] {strider} short bp .68

[10:50] {Threei} be careful with long entries here, market feels like hard shakeout is coming

[10:51] {Threei} here it is

[10:51] {Threei} don't be too quick to jump on recross FAS

[10:51] {Threei} this shakeout will be harder than it seems

[10:52] {Threei} better miss first one

[10:52] {Threei} no entry here

[10:52] {jfjf64} lost me

[10:52] {jfjf64} lol

[10:52] {Threei} do not buy this first 24 recross

[10:52] {Threei} no smotth trading here, just teleportation

[10:53] {Threei} easy to get caught on either side

[10:53] {dptl} ye..i'll pass

[10:53] {jfjf64} sit wait ambush

[10:54] {Threei} nice on BP strider

[10:56] {dino} \intc stopped -.15

[11:00] {ese} out nuan .63 break even.....goin nowhere fast

[11:00] {Threei} here comes wisdom from high above:

[11:00] {Threei} Administration Advisor Summers: Must reduce deficits to 'sustainable levels'

[11:01] {Threei} no really?

[11:01] {nemo} define sustainable?

[11:01] {Threei} they can't even define "must"

[11:01] {Threei} or "to"

[11:02] {Threei} and Summers is second last in this administration I'd trust to balance my checkbook

[11:09] {Threei} unconvincing bounce

[11:09] {Threei} I don't feel the drive

[11:10] {magoo} soon weedhopper

[11:10] {magoo} patience

[11:10] {nemo} gag

[11:10] {magoo} getting no quotes for GAG

[11:11] {nemo} hehehehehe

[11:15] {dptl} .

[11:15] {dptl} did i miss enything?

[11:16] {dptl} anything

[11:16] {Threei} no

[11:16] {Threei} we are in waiting mode

[11:16] {dptl} ok....

[11:18] {nemo} somebody tell a joke

[11:18] {Threei} I've got one

[11:19] {Threei} Congress knows what they are doing about economy

[11:19] {nemo} I've got one too

[11:19] {nemo} want me to tell it

[11:20] {Threei} 63% Favor Repeal of National Health Care Plan

[11:20] {nemo} I'll take silence as acquiescence

[11:20] {Threei} wow

[11:20] {Threei} rising as time goes

[11:20] {Threei} hmmm... my joke wasn't funny after all:

[11:20] {Threei} 72% Are Not Confident Congress Knows What Its Doing When It Comes to The Economy

[11:22] {dptl} dell?

[11:23] {nemo} db on lvs

[11:23] {Threei} nah

[11:23] {nemo} ?

[11:23] {Threei} nah to dell

[11:23] {nemo} no volume indication yet

[11:24] {Threei} LVS, worth a try with stop under .25

[11:24] {RonS} x lod

[11:24] {Threei} there is no defined trigger,

[11:24] {Threei} so gotta simply go with market direction

[11:24] {Threei} that is:

[11:25] {Threei} if market spikes and LVS gives a little pause,

[11:25] {Threei} while being within acceptable distance from .25

[11:25] {Threei} grab it

[11:25] {Threei} if loses .25, invalidated

[11:25] {nemo} recross .30 on spike

[11:25] {Threei} spike down, market

[11:25] {nemo} oh well

[11:27] {nemo} lvs bounced at open price

[11:31] {Threei} action quieted down

[11:32] {jfjf64} yyup

[11:33] {Threei} until some direction starts shaoping up, avoid pushing trades, recipe for rinsing

[11:34] {jfjf64} i i 3i

[11:34] {Threei} poetry?

[11:34] {Threei} what's next, roses?

[11:36] {nemo} oooh...30 recross woulda' worked

[11:36] {jfjf64} 3i i i

[11:36] {Threei} this market uptick is not something you would be able to read

[11:36] {Threei} breakdown was just as likely

[11:36] {nemo} nah, I was just looking at the chart formation

[11:37] {nemo} Having said that, the spy bounced off the 200 ma at .60

[11:37] {Threei} but it would fail if SPY chose down at about 11:33 - 11:35

[11:37] {Threei} and it was absolutely the option

[11:37] {nemo} yep

[11:42] {Threei} LVS...

[11:42] {dino} ctsh sm l .65

[11:42] {Threei} trying to form C&H

[11:43] {nemo} BIDU also

[11:44] {magoo} in lvs .45

[11:46] {Threei} has magoo ever met aggressive entry he didn't like?

[11:46] {magoo} yea...IMAX :)

[11:46] {Threei} rofl

[11:47] {magoo} smashed a keybopard on that one lol

[11:48] {magoo} adding to my loss

[11:49] {jfjf64} nice

[11:49] {Threei} 1:1 for regular entry, 1:3 for aggressive

[11:50] {jfjf64} ??

[11:50] {Threei} what?

[11:50] {Threei} did I type that in Russian?

[11:50] {jfjf64} what

[11:50] {Threei} or Swahili?

[11:51] {jfjf64} im sleepin

[11:51] {jfjf64} guess

[11:51] {Threei} sorry then, we will try to keep it down

[11:51] {jfjf64} or typin russian

[11:51] {Threei} (whispering) magoo, partialling out?

[11:53] {magoo} whadda u think?

[11:53] {Threei} well, when it comes to you - all bets are off

[11:54] {magoo} waiting .67

[11:54] {Threei} see?

[11:54] {dptl} tjx?

[11:55] {Threei} nah

[11:55] {Threei} this is Shaekout Incorporated

[11:55] {dptl} ok

[11:55] {jfjf64} what

[11:55] {Threei} lol

[11:56] {Threei} go back to sleep

[11:56] {jfjf64} lol

[11:56] {jfjf64} i i 3i

[11:56] {jfjf64} gettin restless

[11:58] {Threei} 1:4 mags

[11:59] {jfjf64} lvc c/h

[11:59] {jfjf64} lvs

[11:59] {Threei} we had one at .50 jf

[12:00] {jfjf64} i see

[12:00] {Threei} one you slept through...

[12:00] {jfjf64} ahhh

[12:00] {jfjf64} the 1 ya typed in russian

[12:05] {magoo} out here .67

[12:05] {magoo} TY

[12:05] {RonS} ...makets in europe ended almost flat. Euro seems to be gaining traction.

[12:05] {jfjf64} spy

[12:05] {dino} ups sm l .50

[12:10] {Les} gdxj .50 break?

[12:11] {Threei} I don't like it

[12:11] {Les} :)

[12:12] {Les} was thinking if I painted some lipstick on it... maybe you would?

[12:12] {jfjf64} lol

[12:12] {Les} spot price up nicely

[12:16] {dptl} tol?

[12:16] {Threei} yuck

[12:17] {dptl} i see wierd things...lol

[12:18] {Threei} you sure do

[12:18] {Threei} FAZ, pullback close to .30 for long entry

[12:19] {Threei} .20 - .25 zone would be even better

[12:19] {Threei} but I doubt we'll get it

[12:20] {Threei} (KS) Pentagon confirms US to hold naval exercises with South Korea (related USD/KRW EWY GLD )

[12:20] {Threei} oh great

[12:20] {Threei} things are so stable, we can afford some boat rocking

[12:21] {Les} nice call on the miners

[12:23] {dptl} vvus short off 12?

[12:23] {Threei} looks promising

[12:24] {Threei} doesn't look like pullback in cards for FAZ

[12:24] {dptl} with.10 stop

[12:24] {Threei} yup

[12:24] {dptl} not available

[12:24] {Threei} BP Directors to be sued by investors over cost of Gulf oil spill (42.71, -1.15, -2.62%)

[12:29] {Threei} why do I have this feeling sharp red bar can occur any second, out of nowhere

[12:30] {nemo} C&H forming on Qs

[12:30] {magoo} mkt or BP vad?

[12:30] {Threei} market

[12:31] {Threei} watching FAZ for entry

[12:34] {Threei} how about that?

[12:34] {jfjf64} ??

[12:34] {jfjf64} faz

[12:34] {Threei} [12:29] {Threei} why do I have this feeling sharp red bar can occur any second, out of nowhere

[12:35] {Threei} was it swahili again??

[12:35] {Threei} crap

[12:35] {Threei} .31 was perfect entry

[12:35] {Threei} missed it

[12:36] {Threei} had to go in on pure instinct

[12:37] {Threei} don't you hate it

[12:37] {Threei} [12:18] {Threei} FAZ, pullback close to .30 for long entry

[12:37] {Threei} intuition says do it, discipline says wait for setup

[12:38] {jfjf64} like that

[12:43] {dino} out ctsh .01, +.36

[12:43] {Threei} feels to me like more downside in the mnarket

[12:46] {dptl} hpq.30 short?

[12:46] {strider} BP

[12:46] {Threei} probably... hard to count on much though

[12:46] {strider} FCX

[12:46] {Threei} unkless market really really sells off

[12:47] {dptl} will wait

[12:47] {Threei} jerky action

[12:47] {Threei} green bar red bar

[12:55] {dptl} hpq still under .40 didn't go up much

[12:56] {Threei} Long Setup: FAS .20 break

[12:56] {Threei} if stays above .15

[13:00] {dptl} missed

[13:00] {Threei} 1:1

[13:00] {Threei} half out .28

[13:00] {dptl} where did you get in?

[13:00] {Threei} .22

[13:01] {Threei} mixed fill, from some .20 to some .23

[13:01] {dptl} was trying to get .21 missed it

[13:01] {Threei} SPY spiked first

[13:02] {dptl} o well

[13:02] {Threei} hit buy with limit .23 while .20 was still there

[13:02] {Les} aaaah that makes sense

[13:02] {Les} with a limit of .21 I didn't have a chance

[13:02] {dptl} no

[13:02] {Threei} unless hit it early

[13:03] {dptl} ok.that's fine...just find something else ,Vad,please lol

[13:04] {Threei} second half b/e

[13:07] {dptl} gps .90 short?

[13:07] {Threei} jeez

[13:07] {Threei} look at day's range

[13:08] {Threei} it sits between .80 and 22 for almost whole day

[13:08] {Threei} what is it you are hoping to squeze out of it?

[13:08] {dptl} 30c

[13:09] {dptl} 21.73 low ,22.15 hi

[13:09] {dptl} gps you talking about?

[13:10] {Threei} yes

[13:15] {Les} vad, prospects for gdxj improved? hod break?

[13:15] {dptl} ba?

[13:16] {Threei} I don't see any recognizable setup there les

[13:16] {Les} ok

[13:16] {Threei} if anything, I'd short it

[13:16] {Threei} .50 break

[13:16] {dptl} ba?

[13:16] {Threei} no

[13:16] {nemo} looks like spy to test 200 ma

[13:17] {Threei} but even that is 51/49 trade

[13:17] {Threei} BA, too

[13:17] {Threei} lol

[13:17] {dptl} lol

[13:17] {dptl} lol...i just can' see enything...looks like

[13:17] {dptl} t

[13:18] {dptl} anything....and can't tipe

[13:18] {dptl} type....jeez

[13:18] {Threei} rofl

[13:18] {dptl} lol

[13:24] {Threei} up or down?

[13:25] {Threei} who's up for guess?

[13:25] {magoo} P

[13:25] {magoo} UP

[13:25] {nemo} UP

[13:25] {Les} up

[13:25] {Threei} ok, FAS is long on pullback under 24, and magoo and Les are responsible

[13:25] {Les} market playing with bulls, but ultimately up

[13:25] {Les} what about nemo?

[13:25] {Threei} nemo too

[13:27] {Threei} here is pullback

[13:27] {Threei} in .91

[13:27] {Threei} you three are responsible

[13:28] {Les} .93

[13:28] {Threei} stop under .85

[13:29] {dptl} what was a set up?

[13:29] {nemo} feel

[13:29] {Threei} [13:25] {magoo} UP

[13:29] {Threei} [13:25] {nemo} UP

[13:29] {Threei} [13:25] {Les} up

[13:29] {jfjf64} we call in UP

[13:30] {dptl} i see...so lottery lol

[13:30] {jfjf64} IT

[13:30] {Les} we all hang togethor

[13:30] {magoo} 3 wrongs dont make a right lol

[13:30] {Threei} half outlol

[13:30] {Les} hehe

[13:30] {jfjf64} that a boy les

[13:30] {Threei} half out above 24

[13:30] {jfjf64} k

[13:31] {nemo} Missed it...went for ice cream

[13:31] {Threei} kidding?

[13:31] {Threei} called up, got a call based on it and went for icecream?

[13:32] {nemo} ?

[13:32] {Threei} never mind

[13:32] {Threei} second half stopped

[13:32] {Threei} b/e

[13:33] {nemo} fcx might be worth it here, sitting on trend line

[13:33] {Threei} scalping time... no continuation

[13:33] {dptl} dis .75 short?

[13:34] {Threei} probably

[13:34] {dptl} in .85 stop

[13:34] {Les} damn that's the last MA holding up market in 1 min. time frame

[13:35] {Threei} Long Setup: FAS .80

[13:36] {Threei} if holding .75

[13:39] {Threei} no go

[13:40] {strider} I'm done for the day.

[13:40] {jfjf64} somethin vad said

[13:41] {jfjf64} lol

[13:41] {ese} .

[13:41] {jfjf64} see ya strider

[13:41] {dptl} nah out dis +.03

[13:42] {dino} genz

[13:53] {ese} Lgenz .22

[13:54] {dptl} mcd .20 short ?if stays under .30?

[13:55] {Threei} can't tell

[13:55] {Threei} 50/50

[13:55] {ese} hmmmmm maybe not genz

[13:55] {dptl} ok

[13:55] {ese} stopped .09

[13:55] {ese} =.13

[13:55] {ese} -.13

[13:56] {jfjf64} mon s .44

[13:57] {ese} l genz .06

[13:59] {dptl} bp .60 s?

[13:59] {dptl} or .70 long ?

[14:00] {Threei} no idea

[14:00] {ese} daaaaaaaaa stopped genz .95 -.11

[14:02] {Threei} watching FAS for pullback closer to .50 for double bottom long entry

[14:04] {dptl} stop under .45?

[14:04] {Threei} yes

[14:06] {Threei} ok

[14:06] {Threei} either recross

[14:06] {Threei} or invalidation

[14:07] {nemo} .50?

[14:08] {dptl} in.51

[14:10] {Threei} 1:2

[14:10] {dino} sm l fdx .15

[14:10] {dptl} half out

[14:11] {Threei} stop to .49 of course

[14:12] {Threei} 1:3

[14:13] {Threei} 1:4 1/4 more oput

[14:13] {Threei} milking it

[14:13] {Threei} here

[14:13] {dptl} out some more.69

[14:14] {Threei} went with double levels this time, partialing at evens only

[14:14] {Threei} 5 cents risk was writh it

[14:14] {dptl} stop to under .60

[14:16] {Threei} see dp

[14:16] {Threei} normal stock, normal setup, cold blood

[14:16] {Threei} and things work

[14:16] {Threei} instead of all that weird crap you dig out from somewhere

[14:16] {dptl} ye easy for you to say lol

[14:18] {dptl} ok all out ty

[14:18] {Threei} sure

[14:19] {dptl} almost flat for the day

[14:19] {Threei} I just have an impression most of those you try to play are out of desire to find something, anything

[14:19] {Threei} good setups come to you

[14:19] {Threei} you don't squeeze them out of stone

[14:20] {Threei} start looking for them so actively, and you don't notice how wishful thinking replaces real read

[14:20] {Threei} you start seeing trades whe\re there are none

[14:21] {dptl} yes....true....

[14:23] {dptl} it' just hard for me not to do anything then i am down for the day

[14:23] {nemo} ahhhhh....revenge trading

[14:23] {Threei} so you chose to take any trades and dig the deeper hole?

[14:23] {nemo} can't force anything

[14:23] {Threei} market doesn't know whether you are up or down

[14:23] {dptl} thats where the problem is

[14:23] {Threei} it presents opportunities or it doesn't

[14:24] {Threei} you don't take trades because you need to cover your loss

[14:24] {Threei} you take trades because there is right setup

[14:24] {Threei} let me put it this way

[14:25] {Threei} you took the wrong bus and found yourself far from the place you wanted to go

[14:25] {Threei} do you jump on any bus coming along, or do you look at the map and wait for the rioght bus this time?

[14:26] {dptl} right...

[14:26] {Threei} both options may work

[14:26] {Threei} one by design, another one by chance

[14:26] {Threei} make your choice

[14:26] {Threei} if you are gambling, take any trade you see

[14:26] {Threei} if you are trading, do it by the rules

[14:26] {ese} yaaaaaaaaawwwwwn.......zzzzzzzzzzzzzzzzzzzzzzzzzzz

[14:27] {jfjf64} ahh a master

[14:27] {dptl} yes ......have to work on my self

[14:27] {jfjf64} weel said vad

[14:28] {jfjf64} ya sd really right a book

[14:28] {Threei} notice, FAS cam back to that entry, we didn't go for it

[14:28] {Threei} wjy?

[14:28] {dptl} second time less chances

[14:28] {Threei} because there is no stup I know there

[14:28] {Threei} setup

[14:29] {Threei} now look

[14:30] {Threei} it goes up

[14:30] {Threei} do I regret not taking it?

[14:30] {dptl} no

[14:30] {Threei} not in the least

[14:30] {jfjf64} why sensi

[14:31] {Threei} because i trade what i can read

[14:31] {Threei} if something moves, but does so in a manner i can't read, what do i care

[14:31] {ese} L veco .61

[14:34] {dptl} on your charts Vad ,what is your bar width?

[14:36] {ese} out veco .76

[14:36] {ese} +.15

[14:36] {ese} no biggie 2k

[14:36] {Threei} 2

[14:37] {dptl} 2?..that small ah

[14:38] {Threei} KFN Ticking higher after positive comments from Jim Cramer on CNBC; favors BIDU over GOOG

[14:38] {Threei} - comments on Bidu in response to question on Citigroup note earlier (8.17, +0.61, 8.07%) (related BIDU GOOG )

[14:38] {dptl} gonna use 2...see if i can see better

[14:38] {ese} everthing i'm doing these days is pretty much small dp.......my trading is too infrequent with stuff going on....hard to get into a rhythm

[14:39] {ese} ohhhhhhh thought you were talking about my 2k.....

[14:39] {dptl} :) ese

[14:40] {Threei} market feels like getting ready to break down

[14:40] {Threei} FAZ .80 break...

[14:41] {dptl} .70 stop?

[14:42] {Threei} .74 for scalp type I

[14:42] {Threei} .70 for a day trade

[14:42] {Threei} and .60 for a "let's really push it"

[14:42] {nemo} Magoo in yet?

[14:43] {dptl} in .81

[14:44] {magoo} no

[14:44] {nemo} ty

[14:44] {Threei} if GS loses 138

[14:44] {nemo} what

[14:44] {Threei} that should really add fuel to things

[14:44] {Les} you use a tick chart vad? scaled out my chart to 2 and it's pretty hard to see detail now

[14:44] {Threei} no, candlesticks

[14:45] {Threei} we may have diff size of charts, screen resolution etc

[14:45] {Threei} size it for your ":real estate"

[14:45] {dptl} 2 is really small

[14:45] {Les} do you want to see whole day of activity for the stock?

[14:45] {Threei} yes

[14:46] {Les} ok. I have FAZ on chart from 08:25 like this

[14:46] {Threei} if I need to see particular spot, trakes jusrt a couple clicks to zoom inb

[14:47] {Les} you have to change bar width to zoom in?

[14:47] {Threei} no, why

[14:47] {Threei} click on the chart, look at the upper bar under word Route

[14:47] {Threei} there are two battons with arrows looking inward and outward

[14:48] {Threei} FAZ 1:1 for scalpers

[14:48] {Threei} outward ones zoom in, inward ones zoom out

[14:48] {Threei} 1:1 for day traders

[14:49] {dptl} half out

[14:49] {Threei} once again... clean valid setup and cold blooded execution

06[14:50] * Threei slaps dptl around a bit with a large list of unneded trades clogging dp's pipe

[14:51] {Threei} are you in black finally?

[14:52] {Threei} what the

[14:52] {Threei} mibbit is down?

[14:53] {Les} .

[14:53] {strider} .

[14:53] {Threei} mibbit is down?

[14:53] {Les} strange. mibbit crash

[14:54] {dptl} out second half

[14:55] {dptl} yes in black Vad...ty

[14:55] {Threei} so, you'll dig holes and I'll dig you out? and you think it's fair?

[14:55] {dptl} lol

[14:56] {dptl} still learning

[14:56] {Les} http://uploads.mibbit.com/jAcQ9B.gif

[14:57] {Les} sorry vad, can't see arrows for zooming in on chart parameters

[14:57] {dptl} that was that tree stoppes in a morning,that got me

[14:57] {dptl} right beside chat button Les

[14:58] {Threei} looking at the wrong window les

[14:58] {Threei} don't do right click

[14:58] {Threei} simply click on the chart

[14:58] {Les} got it

[14:58] {Les} ty

[14:58] {Les} cool

[14:59] {nemo} fas db here va

[14:59] {nemo} .28 is pivot

[14:59] {Threei} I doubt it

[14:59] {Threei} oesn't look like bounce to me

[14:59] {dptl} easier with hot keys Les

[14:59] {nemo} nope

[15:00] {Les} yeh will get round to looking at it dp

[15:03] {Threei} FAZ 1:1 for the "milk it for all there is"

[15:04] {Threei} GS 40 cents down from breakdown

[15:04] {Les} half out

[15:05] {Threei} now, with all your morning doom and gloom, tell me it's not shaping up as a good day

[15:05] {Threei} how many good ones we got once things calmed down

[15:05] {Threei} notably on FAS and FAZ

[15:06] {Les} missed your earlier FAS long stuck in other things. would have been nice

[15:08] {Les} what route should I be using Vad? I remember you have a favourite

[15:09] {Threei} NASDAQ is my default choice

[15:09] {Threei} ARCA is second best

[15:09] {Les} so as long as it says NASDAQ I've no need to play with it? ok

[15:09] {Threei} then again... there is a trip into dark pools

[15:10] {Threei} GETCO

[15:10] {Threei} no guarantee shares will be there but no fee

[15:10] {Threei} so if you have time to try and popular stocks, it makes sense to try

[15:11] {Threei} I have a keyboard shportcut for it

[15:11] {Threei} so I don't mess with mpuse switching

[15:11] {Threei} mouse

[15:11] {Les} covered all .05

[15:12] {Threei} and someimes it's fun, just to feel that idiots screaming about dark pools not being accessibble for average retail trader are just that.... idiots

[15:19] {Threei} mibbit seems unstable

[15:23] {Les} .

[15:29] {dptl} bp bounce?

[15:30] {Threei} let's see it it stabilizes

[15:30] {Threei} and forms a range to break

[15:34] {Threei} short covering

[15:36] {Threei} FAS dive under .20 maybe interesting for a last scalp

[15:39] {Threei} like clockwork

[15:43] {dptl} did you take it?

[15:43] {Threei} .22

[15:44] {dptl} i am not

[15:45] {dptl} where was your stop?

[15:45] {Threei} .15

[15:46] {Threei} maybe one more scalp, near 23 - 23.05

[15:47] {Threei} 23 recross

[15:47] {Threei} if holding .95

[15:48] {Threei} no go

[15:48] {dptl} to crazy

[15:49] {dptl} it start mooving differently

[15:49] {Threei} yes

[15:50] {Threei} anyway, bounce time

[15:51] {Threei} took .76

[15:51] {Threei} half put .88

[15:51] {nemo} laser froze up

[15:52] {Threei} nope

[15:52] {nemo} it did for me

[15:52] {Threei} this is your computer

[15:52] {Threei} this is not laser

[15:52] {nemo} or it's interaction with other programs

[15:52] {nemo} I shut down Firefox and it's fine

[15:53] {dptl} well...have a good evening all....and thanx again Vad

[15:53] {Threei} welcome

[15:53] {Threei} go and sin no more

[15:54] {strider} yes, master.

[15:55] {Threei} what a miserable closing for the market

[15:55] {Les} another fat finger somewhere...

[15:55] {Threei} heh

[15:55] {Threei} they are srtill looking for that eh

[15:56] {Les} can't be any other reason apparently

[15:57] {Les} oof Asia ain't gonna be happy in the morning

[15:58] {Threei} tempted to take FAZ overnight

[15:58] {Threei} but heck... why do I need that

[15:58] {Threei} some idiot throws another trillion in, we open +500

[15:59] {Threei} okay guys

[15:59] {Threei} thank you all

[15:59] {Threei} have a good evening

[15:59] {Threei} see you tomorrow

[15:59] {Les} yeh a domani