Monday, August 23, 2010

Aug 23 2010

One of those days when nothing worked. Mondays are sometimes like that. Thankfully, Tuesdays come next.

Session Time: Mon Aug 23 00:00:00 2010
[08:24] {dino} gm all
[08:36] {dino} .
[08:36] {nemo} !
[08:37] {nemo} hey Les!
[08:37] {Les} here's Brucey!
[08:37] {nemo} hehehehe
[08:37] {Les} kids are packed off to school for another year
[08:41] {dino} next week mine go
[08:41] {Les} you got em in the office dino?
[08:41] {Threei}  I hve nothing of value to say, so:
[08:41] {Threei}  *(US) JULY CHICAGO FED NATIONAL ACTIVITY INDEX: 0.00 V -0.10E
[08:41] {Threei}  - Prior revised lower from -0.63 to -0.70
[08:42] {Les} you've got ridden of your kids, or so I am led to believe vad
[08:42] {Les} morning
[08:42] {Threei}  I have
[08:42] {Threei}  but they still visit
[08:42] {Threei}  whch is the best arrangement one can think of
[08:43] {Les} ha
[08:43] {Les} any new star stocks come on the radar? LVS still the favourite?
[08:43] {Threei}  I get to impart parental wisdom as much as I want, and they bear with it - and I am not subjected o their antics
[08:44] {Les} what, they listen to you now?
[08:44] {Les} after all these years
[08:44] {Threei}  well, itonically - NOW they do
[08:45] {Threei}  there are RIMM, CAT etc... perncetage of wins is high but plays are few and far between
[08:56] {magoo} morning
[08:57] {Threei}  mags :)
[08:58] {hawk} morning all
[08:59] {Threei}  hawk :)
[08:59] {Threei}  AIG International Lease Finance Corp (IFLC) confirms repayment of US Govt (35.17, 0.00, 0.00%)
[09:03] {jfjf64} mornin all
[09:03] {Threei}  RAVN Approves $1.25/shr special dividend
[09:03] {Threei}  jf :)
[09:04] {dino} way to go raven
[09:05] {Threei}  let's see how MAGS and ESE are doing
[09:06] {Threei}  01 Aug MAGS Receives $5.5M in orders from Israel and worldwide
[09:06] {Threei}  not bad
[09:06] {Threei}  05 AUG ESE Wins 5-year $35M contract from the US Army
[09:06] {Threei}  decent too
[09:06] {Threei}  we can all be proud of our comrades
[09:07] {Les} What are they - weapons manufacturers?
[09:07] {Les} surrounded by gun nuts am I?
[09:08] {Threei}  well, just so you don't feel intimidated:
[09:08] {Threei}  [LLY] Eli Lilly and Co
[09:09] {strider} SAFM
[09:10] {Threei}  SAFM Reports Q3 $1.55 v $1.87e, R $489M v $520Me
[09:11] {strider} MTXX
[09:13] {dino} jazz
[09:13] {Threei}  JAZZ, its run after previous news was against all common sense... not it takes over
[09:14] {Threei}  which is rarity these days
[09:14] {Threei}  not = now
[09:15] {Les} previous news was bad I take it?
[09:15] {dino} fda rejection
[09:15] {Threei}  previous was the panel review, full of ominous warnings
[09:15] {Threei}  yet it went up
[09:16] {dino} my old friend itri gets upgraded this a.m.
[09:16] {Threei}  now FDA rejects drug as panel review implied
[09:16] {nemo} yes, and nteresting chart it has
[09:16] {Les} ha just rereading your stories of KTEL and TTG
[09:17] {Threei}  this is what I posted on that morning, Ayg 18:
[09:17] {Threei}  [08:59] {Threei} reading JAZZ news, I am not sure I understand why it's up a point with change inxtead of being down 5
[09:25] {Threei}  so far quiet morning,
[09:25] {Threei}  let's treat it as we did whole last week:
[09:25] {Threei}  patiently wait for hiw precentage low risk setup,
[09:25] {Threei}  even if it means very few trades
[09:25] {Threei}  such is August trading
[09:26] {Threei}  FRPT Receives $64.1 M Award For Additional Vehicle Modernization
[09:32] {Threei} Long Setup:  LVS  30 break
[09:32] {Threei}  if stays above .90
[09:33] {Threei}  if SPY's holding .90 and reversesd, LVS should do well
[09:37] {Threei}  let's trail stop to under .95
[09:38] {_dj123} should i buy lvs now?
[09:38] {Les} NO
[09:39] {Les} sorry if I am impertinet dj but lvs is not following the market
[09:39] {_dj123}  i m new here .... so what does mean 30 break/?  can u help me?
[09:40] {_dj123} its ok
[09:40] {Threei}  break over 30... as in trading above it
[09:41] {dino} wsm hl l .00
[09:43] {Threei} Long Setup:  RIMM  .80 break half lot
[09:43] {Threei}  if holding .70
[09:43] {Threei}  invalidated
[09:43] {Threei}  watching for different trigger
06[09:44] * Les slaps ese around a bit with a large trout
[09:45] {ese} morning....stuuuupid alarm
[09:45] {Threei}  ese :)
06[09:45] * nemo slaps Les around a bit with a large matterhorn
[09:45] {Threei} Long Setup:  RIMM  .60 break half lot
[09:45] {Threei}  if holding .50
[09:45] {ese} mornin les.....welcome back.....
[09:45] {Threei}  invalidated
[09:45] {Threei}  lol
[09:45] {Les} .50 recross
[09:45] {Threei}  yes
[09:45] {Threei}  stop under .40
[09:46] {ese} i would expect nothin less tha that greeting
[09:46] {magoo} pretty good BIDU pllbk vad
[09:46] {Threei}  RIMM not ready yet
[09:46] {dino} syut sm l .00
[09:47] {jfjf64} gettin  hit
[09:48] {magoo} nice bidu bounce
[09:49] {Threei}  very slow trade, don't touch it if not ready for water torture:
[09:49] {Threei} Long Setup:  ARNA  .10 break if holding above 7
[09:51] {Threei} Long Setup:  CAT  .30 half lot
[09:52] {Threei}  let's make it aggressive: .25 long if staysd above .15
[09:53] {dino} whr luv
[09:53] {ese} in cat
[09:53] {Threei}  not a scalp for me if works
[09:54] {ese} .24
[09:55] {Threei}  with any market help, I see .60 as a target
[09:55] {nemo} dino sees dead people
[09:56] {ese} get yur slow mo stinkin caterpilleran butt up the
[09:56] {ese} there
[09:56] {nemo} that's motivational
[09:56] {Threei}  no go
[09:56] {nemo} you must be a teacher
[09:56] {Threei}  market sharp red bar
[09:56] {ese} ya i figured
[09:57] {ese} if it gets back to .25 i may add another 1/2 lot
[09:58] {Threei}  hmmm
[09:58] {nemo} yeah, really
[09:58] {Threei}  as far as I am concerned, it's stopped
[09:58] {nemo} frikin' musicians
[09:59] {ese} i'm ok with 1/2 lot messin around a bit
[09:59] {nemo} just call him 'moneybags'
[09:59] {ese} op[ps stopped now
[09:59] {Les} moneypenny
[09:59] {ese} .98
[09:59] {nemo} les...kinda' outa' practice there kid
[09:59] {Les} yeh didn't take CAT. was looking for drop
[10:00] {nemo} I was referring to your commentary
[10:00] {Les} I'm a chicken who lacks convinction to take trade
[10:00] {Les} no was commenting on ese's stopping out
[10:02] {dino} wsm stopped -.25
[10:04] {Threei}  *(EU) EURO ZONE AUG ADVANCED CONSUMER CONFIDENCE: -12 V -14E
[10:06] {Threei} Long Setup:  LVS  .75 break
[10:06] {Threei}  if stays above .65
[10:09] {Threei}  market is nervous...
[10:10] {dino} open gaqp perhaps in play
[10:10] {ese} L KEY .85
[10:10] {dino} all red
[10:10] {magoo} all neg news over weekend
[10:10] {magoo} gloomy
[10:11] {Threei}  didn't prevent market from gapping up
[10:11] {magoo} well, wasnt huge gap
[10:12] {nemo} no energy yet at all
[10:13] {Les} q's back to fridays close
[10:13] {nemo} tempting db on lvs
[10:14] {dino} ndx filledkirk l .50
[10:15] {Threei}  market is not finding firm footing
[10:16] {Threei}  LVS is not dropping with it anymore though
[10:16] {nemo} no, and a nice db
[10:17] {dino} mdas
[10:17] {nemo} but spy still looks weak
[10:17] {dino} imo gap fill coming on it
[10:18] {Les} IWM found footing
[10:18] {Les} spy
[10:18] {Les} sorry
[10:18] {dino} veco sm l .75
[10:19] {jfjf64} lets go
[10:19] {nemo} gonna' love this...
[10:19] {jfjf64} fillda gap baby
[10:20] {nemo} my cousin just gets a spam that says the United Nations has set up a fund to compensate people for Nigerian money scams, and he has been identified as a scam victim
[10:20] {Threei}  lol
[10:20] {Les} you Americans get all the fun spam
[10:21] {nemo} support at .48 on veco dino
[10:21] {Threei}  sorry Les... we can fix it for you though by giving spammers your e-mail
[10:21] {magoo} so the UN asks him to send his social security number, d/o/b, drivers license #
[10:22] {Threei}  wow... market gets slapped hard
[10:22] {dino} veco stopped -.30
[10:22] {ese} out key .86 +.01
[10:22] {ese} took myself out of it......mmrkt headed dn
[10:24] {Threei}  LVS no go
[10:25] {dino} kgs spike
[10:30] {Threei}  Market Internals update at 10:30ET
[10:30] {Threei}  - NYSE volume 165M shares, about 28% below its three-month average; advancers lead decliners by 1.7:1.
[10:30] {Threei}  - NASDAQ volume 365M shares, about 20% below its three-month average; advancers lead decliners by 1.3:1.
[10:30] {Threei}  - VIX index -2.75% to just above 25.00
[10:31] {nemo} hpq had a nice swan dive
[10:31] {Les} their offer for whatever it is ain't impressing investors it seems
[10:32] {dino} wsm l .25
[10:32] {dino} veco rinsed
[10:33] {dino} f'ing veco
[10:33] {nemo} oy vay
[10:34] {Threei}  so far, after nicely working Thusrday and Fri, Mon seems to be a "nothing works" day
06[10:34] * Les slaps Threei around a bit with a large trout
[10:35] {Les} well that still works
[10:35] {Threei}  so's this
[10:35] {jfjf64} NWD
06[10:35] * Threei slaps Les around a bit with a large concrete block of roughly 2 tons wight
06[10:35] * nemo with exposed rebar
[10:36] {Les} :)
[10:36] {Threei}  CAT
[10:36] {Threei}  see if we get dive under .60 for long on recross
[10:37] {nemo} .60 would also be support, yes?
[10:37] {Threei}  .65 long alternatively
[10:37] {Threei}  if .60 gholding
[10:37] {dino} bidu
[10:38] {nemo} .46 bounce
[10:40] {Les} nice one nemo
[10:40] {Les} +.25
[10:40] {nemo} cool les
[10:40] {nemo} tarry no longer
[10:40] {Les} small shares. way too volatile
[10:41] {nemo} brb
[10:44] {Threei}  I knew there was a reason we hate Mondays
[10:45] {Threei}  http://realitytrader.com/vad/Mondays-Suck-Video.wmv
[10:45] {Les} yeh the problems didn't disappear over the weekend, despite the friday run up
[10:45] {Threei}  what problems?
[10:46] {Les} the economy, world and life itself
[10:46] {Threei}  ah come on
[10:46] {Threei}  as if it had anything to do with today's market direction
[10:46] {dino} berish at bottoms, bullish at tops
[10:47] {dino} bearish
[10:47] {hawk} JAZZ interesting
[10:47] {dino} dji filled
[10:49] {_dj123} what happen bidu?
[10:49] {nemo} the market
[10:49] {Les} you mean "them" Nemo...
[10:50] {Les} they did it
[10:50] {nemo} right les
[10:50] {Threei}  nmostly this:
[10:50] {Threei}  GOOG Hearing vague rumor on "Chinese media report" that China officials will shortly announce that Google will "no longer be censored" in China
[10:51] {nemo} although, looking at the daily, it's coming back to test support
[10:52] {dino} s/p filled
[10:54] {_dj123} market  is in low now
[10:55] {_dj123} any pic  for  buy?
[10:55] {Threei}  not until we see market reversing
[10:55] {Threei}  then will be inetersted in RIMM
[10:56] {Threei}  CAT
[10:56] {_dj123} allright
[10:56] {magoo} and BIDU
[10:56] {dino} itri
[10:56] {Threei}  so far all attempts to reverse were smacked down
[10:57] {dino} gut says up
[10:57] {dino} hl l itri .02
[10:59] {Threei}  COCO Hearing chatter APOL could move programs into Coco in aims to increase repayment levels (4.61, +0.12, 2.67%) (related APOL )
[10:59] {dino} the monkey
[10:59] {nemo} rimm below the low could be a short
[11:00] {Les} stop ITRI dino?
[11:00] {dino} gut wrong
[11:00] {dino} .80 -.22
[11:01] {Les} ditto
[11:01] {nemo} I'll ask my sixpack next time dino ;)
[11:01] {dino} please do
[11:01] {Les} your got gotten flabby this vacation dino?:)
[11:01] {Les} gut
[11:01] {Les} :P
[11:03] {jfjf64} D/B SPY
[11:03] {dino} little bit,lol
[11:03] {jfjf64} ?
[11:03] {Threei}  possibly but not likely, IMO, jf
[11:03] {Threei}  new lows seem to be more probable
[11:04] {_dj123} can u tell me about  INTU  i  got in  42 .91 . should i hold or  not ?  i m lossing money lol
[11:05] {Threei}  dj... this is not our approach to tyrading
[11:05] {Threei}  I don't know why you bought it in a first place, so I don't know what criteria should be used as a stop
[11:06] {nemo} allow me Vad....
06[11:06] * nemo slaps _dj123 around a bit with a large book of Techniques of Tape Reading
[11:06] {_dj123} ok
[11:07] {Threei}  in any case, ity obviously broke support since your entry,
[11:07] {Threei}  so why haven't you taken a stop?
[11:07] {dino} imo, if you don't know where to get out, get out now
[11:08] {dino} cat l .00
[11:08] {_dj123}  stop at 42.50
[11:09] {Threei}  that's a very wide stop for day trading
[11:09] {Threei}  possible of course if you play small size
[11:09] {nemo} or....have a huge trading account
[11:10] {_dj123}   i m new  thats why i dont  know  how to tradee.
[11:10] {nemo} get out the paper dude
[11:10] {_dj123}  lol  just lossing money day by day
[11:10] {shorty} good morning
[11:10] {Threei}  then I suggest to stop live trading right away
[11:10] {Threei}  shorty :)
[11:10] {Threei}  why do you continue doing what you don't know how to do?
[11:10] {Les} been there done that dj - stop now
[11:10] {Threei}  education first,
[11:11] {jfjf64} ditto
[11:11] {Threei}  practicing seond,
[11:11] {jfjf64} today
[11:11] {Threei}  only then live trading
[11:11] {jfjf64} lol
[11:11] {shorty} Threei, my platform has been down for two weeks......currently exploring other platforms.
[11:12] {Threei} Long Setup:  CAT  .95
[11:13] {Threei}  stop for scalpers .85, for day traders under .80
[11:13] {nemo} in
[11:14] {hawk} WHR sm .64
[11:14] {Threei}  market seems to set on reveral in a dfirmer tone
[11:15] {Threei} Long Setup:  RIMM  48 break
[11:15] {dino} gj hawk
[11:16] {dino} out pru .13, +.13
[11:17] {ese} Lscok sm .36
[11:18] {nemo} 1/2 out
[11:18] {Threei}  scalpers 1:1
[11:20] {ese} L wcrx 1/2 .51
[11:20] {nemo} only 10k shares, huh ese?
[11:22] {Les} IWM new low
[11:23] {Threei}  CAT gave up
[11:23] {Threei}  and RIMM invalidated
[11:23] {jfjf64} think  me  2
[11:23] {jfjf64} lol
[11:24] {hawk} thx for the heads up on it dino took +.18, got greedy
[11:24] {ese} am learning your lessons dino......spread on scok is/was .16
[11:25] {ese} only have 300 of it though
[11:27] {dino} cat sucks
[11:28] {gregns} i agree
[11:28] {dino} veco nemo?
[11:29] {Threei}  what doesn't?
[11:29] {Threei}  they all do today, lol
[11:30] {nemo} could be db, but look at 15 minute chart, there's still some stop slamming there...could be wrong, but going into lunch, might look for a scalp here, but I wouldn't think anything until this afternoon
[11:30] {dino} .
[11:32] {ese} stop to break even wcrx .52
[11:33] {dino} thx
[11:33] {dino} itri ave .78 sm l
[11:34] {ese} double botom dino
[11:34] {dino} y
[11:35] {Threei}  RIMM...
[11:35] {nemo} frickn breakout play...ow
[11:36] {Threei} Long Setup:  RIMM  48 break
[11:39] {dino} veco hl l .35
[11:39] {komalg} .
[11:43] {dino} pru l .90
[11:43] {Threei}  sigh
[11:43] {Threei}  looks like none of them is going to work today
[11:46] {nemo} don't like the volume not coming in on veco, dino
[11:52] {ese} out scok avg .69 +.33
[11:53] {dino} sorry nemo, got booted
[11:53] {Threei}  nice one ese
[11:53] {dino} sticking w/veco, using .17 as stop
[11:53] {dino} gj es
[11:53] {ese} tks
[11:53] {ese} chip off your block there dino.........
[11:54] {dino} :D
[11:54] {ese} was weird watching that one.......spread shifting be .06 and .15 cents   was bizzare
[11:54] {dino} good stuff
[11:54] {nemo} looks like you have new support at .40 Dino
[12:00] {nemo} cat db
[12:00] {Threei}  CAT, if this is not reversal, I don't know what is
[12:00] {nemo} ?
[12:01] {Threei}  .55 long IMO
[12:01] {Threei}  if holding .45 of course
[12:01] {nemo} my thoughts too...scaaaaaryyyyy
[12:01] {Threei}  look volumes:
[12:01] {Threei}  NYSE volume 312M shares, about 25% below its three-month average;
[12:02] {Threei}  - NASDAQ volume 730M shares, about 15% below its three-month average;
[12:02] {nemo} need a magnifying glass
[12:02] {dino} out pru .15, +.25
[12:02] {dino} out veco .78, +.43
06[12:04] * Threei kicks caterpillar in the rear with heavy duty army boots
[12:05] {Threei}  ouch... darn thing is metal
[12:05] {nemo} those 30 lot nas offers keep lifting
[12:05] {Threei}  I want 1:3
[12:06] {nemo} How's it feel to want?
[12:06] {Threei}  (US) Pennsylvania Gov Rendell proposes new tax on oil companies (related USO )
[12:06] {Threei}  know any other words, rendell?
[12:07] {Threei}  - and higher motor vehicle fees
[12:07] {Threei}  sometimes I think that the only word in their vocabulary
[12:07] {Threei}  - good morning governor! - Tax!
[12:07] {Threei}  - how is your day going? - Tax!
[12:08] {Les} IWM higher high finally
[12:08] {nemo} 16 breaths per minute, breathe more, we'll tax it
[12:08] {Threei}  and those 16 are subject of fee
[12:08] {Les} bought an author on Nemo's recommendation
[12:08] {nemo} oh oh
[12:08] {dino} oh no
[12:08] {Les} The Age of Louis xiv by Durant
[12:09] {nemo} ahhh
[12:09] {nemo} what's our stop cat .46/
[12:09] {nemo} ?
[12:09] {Threei}  I'd preefer .45
[12:09] {Les} most amusing to read of protectionist economic development by Louis' adviser
[12:09] {Les} offers France 10 years of development
[12:10] {Les} before imploding upon itself due to regulation and taxes
[12:11] {Threei}  sheesh
[12:11] {nemo} ow
[12:11] {Les} I0m outta here
[12:11] {Les} see you's in September
[12:11] {Threei}  I don't think I;ve seen such consistent failures in a while
[12:11] {dino} great more taxes in pa
[12:12] {nemo} sonafabitch
[12:12] {Threei}  rinse
[12:12] {dino} cat hl l .55
[12:19] {dino} cat stop is .39 fwiw
[12:26] {dino} cat stopped
[12:26] {jfjf64} BAD DAY IN HOLLYWOOD
[12:26] {nemo} proably going to .25
[12:27] {Threei}  just don't push
[12:27] {Threei}  so we got today wrong
[12:27] {Threei}  what, we trade one day?
[12:27] {nemo} only half over folks
[12:27] {Threei}  we tarde one day at a time
[12:27] {jfjf64} yes
[12:28] {nemo} volume in cat coming
[12:29] {dino} days not over yet
[12:29] {nemo} echo in here
[12:43] {Threei}  no support's holding
[12:49] {hawk} MOS might follow POT up, if it don't rain
[12:57] {magoo} just think if we had shorted all the pops lol
[12:57] {magoo} great day then
[12:58] {magoo} markets are setting up for a nice tues rally imo
[12:58] {Threei}  hindsight is always 20/20, eh :)
[12:59] {Threei}  most of the days of this kind were revesal plays lately,
[12:59] {Threei}  so we tried it today
[12:59] {Threei}  and it didn't work
[12:59] {Threei}  shrug
[12:59] {magoo} just sayiong its perspective
[12:59] {magoo} if our calls were ptrimarily short
[13:02] {magoo} at least we can count on muy typiong abilities to trun true :)
[13:03] {Threei}  you are fighting me on my turf, with your typing...
[13:10] {dino} tech issues, out kirk prior .61 +.11
[13:11] {magoo} dino, dcc
[13:20] {Threei}  sure enough, now CAT bounces
[13:20] {Threei}  when everyone lost all hope it ever would
[13:21] {nemo} probably goes to .60
[13:28] {dino} giddyup itri
[13:37] {i2r} I seem to have issues with my demo laser, i.e. changes port every time I start it
[13:37] {i2r} wondering if it's just due to it being the demo acct
[13:38] {i2r} could someone send me the port#?
[13:38] {Threei}  15905
[13:38] {nemo} 02375
[13:39] {nemo} sorry, thought we were talking zipcodes
[13:42] {ese} .
[13:44] {dino} out itri .28, +.50
[13:47] {shorty} Can someone help me with laser?
[13:47] {i2r} thx guys, seems I've got the right setup, just issue with the acct
[13:47] {i2r} will talk to dave
[13:47] {nemo} the question becomes, does anybody want to
[13:47] {Threei}  depends... what's the question?
[13:47] {shorty} Trying to log on to test it as a demo, but can't.
[13:48] {nemo} did dave send you a set of numbers to put in the setup?
[13:48] {shorty} yes
[13:49] {Threei}  then it's just a matter of your demo being activated
[13:50] {shorty} thanks
[13:53] {nemo} did you put the numbers in the setup area shorty?
[13:53] {i2r} is there a number to call for support on laser? with TD I had a help desk team that I was able to call, does that exist with Laser?
[13:53] {shorty} I did
[13:53] {nemo} yeah, then call LD
[13:53] {shorty} "executor" side  5 digit number that is.
[13:54] {nemo} yes
[13:54] {i2r} I have this IP: 69.64.202.157
[13:55] {i2r} same port number as Vad mentioned
[13:55] {shorty} Will call....thanks
[13:56] {Threei}  dave is your rep to call for help, i2r
[13:56] {i2r} and if I can't reach him?
[13:56] {Threei}  there is one more number
[13:56] {jfjf64} lol
[13:56] {Threei}  don't remember it
[13:56] {Threei}  ask dave :)
[13:56] {i2r} k
[13:57] {Threei}  I never needed it so it got lost somewhere
[13:58] {Threei}  US Federal Reserve's bid to review disclosure of Discount window participants rejected by US appeals court - WSJ (related XLF )
[13:58] {Threei}  48% Say Obamas Views Are Extreme; 51% Say Hillary Is Mainstream
[13:59] {shorty} " Dave's not here man"
[13:59] {Threei}  then again,
[13:59] {Threei}  75% Say They Have Returned A Lost Wallet
[14:04] {nemo} Yeah...but was the money still in it
[14:04] {Threei}  2%: yes
[14:04] {Threei}  73%: ummm... errr...kghrrr
[14:07] {shorty} Wallet? no wallet here.
[14:08] {jfjf64} green  whats that
[14:08] {Threei}  no news
[14:09] {ese} L adsk .49
[14:14] {Threei}  ASIA Hearing Goldman Sachs makes positive comments (timing uncertain) (20.48, -0.24, -1.16%)
[14:19] {hawk} they really love "the heat of the moment"
[14:25] {nemo} oh hawk...gag
[14:25] {hawk} ahhh, thank you :) now i don't have to take down my ASIA posters
[14:25] {nemo} I was an ELP fan
[14:30] {Threei}  I officially nominate today as my worst of 2010
[14:31] {jfjf64} my  worse  since  i  started
[14:31] {magoo} i second the nomination lol
[14:43] {Threei}  CERS Stephens Initiates CERS with Overweight, price target: $5 (timing uncertain)
[14:47] {ese} gotta go to work all...still L adsk and wcrx till the end of the day....catch you tomorrow
[14:48] {Threei}  take care ese
[14:49] {dino} cya es
[14:49] {shorty} cya ese
[14:52] {Threei}  sheesh
[14:52] {Threei}  traffic jam in China, lasted 9 days
[14:52] {Threei}  that's what I call doing things on grand scale
[14:53] {Threei}  100km long
[14:53] {dino} kro sm l .40 ave, gappy
[14:53] {Threei}  imagine all these people looking for food and for places to, umm, relieve themselves
[14:54] {Threei}  this is going to be 100 km of a very stinky highway
[14:54] {dino} of course the bid just dropped
[15:08] {dino} catwsm db?
[15:09] {dino} cat typo
[15:09] {Threei}  no way to tell
[15:09] {Threei}  none of them worked today
[15:09] {Threei}  just one of those days, you know
[15:09] {nemo} they worked, just not when we called them
[15:25] {shorty} APC....
[15:29] {Threei}  (US) US Court rejects embryonic stem cell Federal Funding; claims research destroys human embyros and cannot receive funds from Federal Govt (related STEM GERN AVII CYTX NBS ASTM OSIR BTIM ATHX KOOL VIAC )
[15:38] {Threei}  market ends on miserable note
[15:39] {dino} sheesh
[15:46] {dino} wonder where cat would be if the announced bad last week
[15:46] {Threei}  50?
[15:46] {Threei}  lol
[15:47] {jfjf64} good  night  all
[15:48] {jfjf64} take it  on  chin
[15:48] {jfjf64} tomoroww new day
[15:48] {Threei}  as always
[15:48] {nemo} I'm done...stick a fork in me...nighty night
[15:48] {jfjf64} market  doesnt  know  i  exist
[15:48] {Threei}  take care jf
[15:48] {Threei}  wait nemo
[15:48] {Threei}  market doesn't know about you either
[15:49] {jfjf64} once  he  said  he  was  ELP FAN  DOWN  HILL FROM THERE
[15:49] {nemo} It will when I put it on my list
[15:49] {jfjf64} LOL
[15:49] {Threei}  lol
[15:50] {Threei}  just wanted to make sure you are aware
[15:50] {jfjf64} 4  days  to  get  even
[15:50] {jfjf64} lol
[15:51] {Threei}  - NYSE volume 590M shares, about 27% below its three-month average; decliners lead advancers by 1.2:1.
[15:51] {Threei}  - NASDAQ volume 1.33B shares, about 19% below its three-month average; decliners lead advancers by 2.1:1
[15:51] {jfjf64} hmm
[15:51] {Threei}  interestingly enough,
[15:51] {Threei}  - VIX index -3.25% to just above 24.00
[15:52] {Threei}  not what you'd expect in red market
[15:52] {jfjf64} market works in funny  way
[15:53] {Threei}  mysterious, too
[15:53] {jfjf64} exactkly
[15:53] {jfjf64} later
[15:55] {Threei}  OK guys, let's lower the curtain over this mockery of a day
[15:55] {Threei}  thank you all, have a good evening, let's get'em tomorrow
[15:57] {shorty} bye

Friday, August 20, 2010

Aug 20 2010

Nice day as far as summer trading goes - boring but profitable.

Session Time: Fri Aug 20 00:00:00 2010
[09:07] {strider} .
[09:08] {Threei}  is that a provocation?
[09:08] {Threei}  OK, I'll bite
[09:08] {Threei}  ..
[09:08] {strider} sorry, meant ;
[09:09] {Threei}  oh
[09:09] {Threei}  sorry, misunderstood you
[09:10] {dino} gm all
[09:10] {strider} !
[09:10] {Threei}  dino :)
[09:15] {larisa} gm :)
[09:15] {Threei}  larisa :)
[09:16] {nemo} folks!
[09:17] {Threei}  nemo :)
[09:18] {nemo} ;)
[09:25] {ese} morning
[09:26] {Threei}  ese :)
[09:26] {jfjf64} mornin
[09:26] {ese} vad jf
[09:26] {jfjf64} ese
[09:27] {strider} morning folken
[09:28] {Threei}  jf :)
[09:28] {magoo} morn
[09:28] {jfjf64} strider
[09:28] {Threei}  mags :)
[09:29] {magoo} a sea of red
[09:30] {ese} mrvl?  news?
[09:30] {Threei}  August 19, 2010 16:59:13
[09:30] {Threei}  Marvell Technology Group Ltd Guides Q3 $0.41-0.44 v $0.40e, Rev +4-8% q/q (implies $932-968M v $865Me) - conf call
[09:30] {Threei}  - Guides Q3 gross margin 59-60% v 59.3% q/q
[09:31] {Threei}  will be a bounce candidate very soon
[09:31] {ese} tks
[09:33] {Threei} Long Setup:  LVS  .40 break
[09:33] {Threei}  if stays above .35 for scalpers, .30 day traders
[09:33] {ese} Lintu.68
[09:34] {ese} out intu .94
[09:34] {Threei}  nice
[09:34] {ese} sorry sorry quick call...ws moving too fast
[09:34] {Threei} Long Setup:  MRVL  .40 break
[09:34] {Threei}  if stays abopve .30
[09:34] {Threei}  LVS 1:1 for scalpers
[09:35] {Threei}  1:1 for day traders
[09:35] {magoo} out .51 ty
[09:35] {dino} ndx green
[09:36] {Threei}  MRVL thinks too long
[09:36] {jfjf64} y
[09:36] {Threei}  let's halve it
[09:37] {jfjf64} cd  be  nice  bounce
[09:37] {Threei}  to diminish risk
[09:37] {Threei}  I like chart still, just prefer bounces to develop faster after so deep pullback
[09:38] {Threei}  stopped second half
[09:38] {Threei}  S&P comments on global corporate defaults: Increases by 2 in current week to total 50 for 2010
[09:38] {Threei}  - By region the current year-to-date default tallies are 37 in the US, 2 in Europe, 5 in the Emerging Markets and 6 in the other developed region (Australia, Canada, Japan and New Zealand).
[09:40] {jfjf64} .40 recross
[09:40] {dino} itri sm l .03
[09:42] {Threei} Short Setup: WFC  .35 break
[09:42] {Threei}  if stays under .40 and .45, for scalpers and day traders
[09:43] {Threei}  looks capable of more than scalp
[09:43] {Threei}  depends on market of course but the thing makes 52 week lows
[09:46] {jfjf64} litle battle
[09:47] {nemo} yeah, building strong support at .30
[09:48] {jfjf64} lets  break  the  wall down
[09:48] {Threei}  yes Mr Reagan
[09:49] {dino} itri stopped
[09:49] {jfjf64} he was  the  best
[09:49] {dino} he was
[09:49] {Threei}  scalpers 1:1
[09:49] {Threei}  no argument from me
[09:54] {Threei} Short Setup: LVS  .20 break
[09:54] {Threei}  if stays under .25
[09:55] {Threei}  invalidated
[09:55] {ese} L akam sm .09
[09:55] {dino} whr sm l .85
[09:56] {nemo} ese, arget .35 area
[09:57] {nemo} target
[09:57] {nemo} ?
[09:57] {dino} itri rinsed
[09:57] {Threei} Long Setup:  HPQ  40 break
[09:57] {Threei}  if stays above .90 of course
[09:58] {ese} ya ...i think so
[09:58] {nemo} probably get resistance there
[09:58] {ese} out akam .45
[09:59] {Threei}  not a scalp for me, HPQ
[09:59] {ese} +.36
[09:59] {Threei}  1:1, half out, stop to under b/e
[10:00] {dino} kirk sm l .50
[10:01] {ese} tks for the heads up there nemo
[10:01] {nemo} my pleasure
[10:01] {dino} chk l .53
[10:01] {nemo} akam's making a liar out of me though
[10:02] {komalg} can I take .40?I missed it
[10:02] {nemo} missed what?
[10:02] {komalg} HPQ
[10:02] {jfjf64} sit tight
[10:03] {jfjf64} imo
[10:03] {Threei}  yes, but stop is now right under it
[10:03] {nemo} is the trend line though jf
[10:03] {Threei}  not .90 anymore
[10:03] {ese} i never complain about making a profit
[10:03] {Threei}  so get out right away if .40 is broken
[10:03] {Threei}  40
[10:04] {jfjf64} sorry  boys
[10:04] {nemo} why?
[10:04] {Threei}  HGSI Hearing Dealreporter suggesting could be a takeover target (26.92, +0.33, 1.24%)
[10:04] {jfjf64} no play  time  4 me
[10:05] {jfjf64} lets go  hpq
[10:05] {jfjf64} lot  thinkin today
[10:06] {Threei}  second half stopped b.e, HPQ
[10:07] {jfjf64} nice  find  3i
[10:07] {jfjf64} ty
[10:07] {Threei}  sure... I wish it gave more, had nice potential
[10:07] {dino} kirk stopped -.31
[10:07] {Threei}  chart looked like .25-.30 at least
[10:07] {jfjf64} 3/3   1  invalid
[10:07] {jfjf64} nice   start
[10:08] {Threei}  start? the way things go lately, it could be finish, lol
[10:08] {nemo} magoo won't be happy
[10:08] {jfjf64} thought  same  thing  after  i  wrote
[10:08] {Threei}  I mean if yesterday felt like Friday to me, what's Friday likely to look like, Sunday? :)
[10:08] {jfjf64} lol
[10:09] {nemo} cat bounce coming?
[10:09] {nemo} recross .50?
[10:10] {Threei}  worth a try
[10:10] {dino} see that too nemo
[10:10] {strider} hpq jumped stop.
[10:10] {strider} I'm done
[10:11] {nemo} old db perhaps, but I think market will drive it
[10:11] {Threei}  look at HPQ as illustration whyu we trail stops after 1:1/half out routine
[10:11] {jfjf64} ??
[10:11] {Threei}  strider... say what?
[10:11] {strider} had stop at .85
[10:11] {strider} jumped through it before I could execute
[10:11] {Threei}  I am lost
[10:12] {nemo} he pulled a nemo
[10:12] {strider} stop was supposed to be below .90
[10:12] {strider} had .85 set
[10:12] {strider} blew threw it.  got out at .82
[10:12] {jfjf64} grrr
[10:12] {Threei}  I operate on assumption room members do not keep me on ignore
[10:13] {jfjf64} dont  assume
[10:13] {jfjf64} lol
[10:14] {jfjf64} ass   u    me
[10:14] {komalg} Vad,what kind of set up for LVS?
[10:15] {Threei}  I don't see any
[10:15] {jfjf64} is  it  time  4  vodka
[10:15] {komalg} not now .... at the time of alert
[10:15] {Threei}  oh
[10:16] {Threei}  bounce into resistance defined by descending channel
[10:16] {jfjf64} lol  ko
[10:16] {jfjf64} nice  i  see
[10:16] {dino} itri sm l .00
[10:18] {jfjf64} looks  better  5 min  chart  lvs
[10:18] {jfjf64} ??
[10:20] {ese} call me crazy.....and i know the mrkts dn.......but.......it feels selling tired to me
[10:20] {jfjf64} you  crazy
[10:20] {jfjf64} lol
[10:20] {nemo} frickin' musiciians
[10:20] {jfjf64} yup
[10:21] {jfjf64} cat
[10:21] {nemo} not sure which way jf?
[10:21] {ese} "Feelings.......nothing more than Feelings"
[10:21] {jfjf64} .20  break  s
[10:21] {jfjf64} ??
[10:21] {nemo} yeah that's the obvious play
[10:21] {Threei}  that setup looks right chart wise, jf, problem is:
[10:21] {Threei}  there is no nicely defined stop up to .40
[10:22] {jfjf64} lets  go  long  then
[10:22] {Threei}  no trigger for long
[10:22] {nemo} you could use the midline average of the BB
[10:22] {Threei}  yeah
[10:22] {Threei}  not my favorite but possible
[10:22] {jfjf64} .36
[10:23] {Threei}  stop above .30 then
[10:23] {nemo} not as dumb as I look, there's also the trend line
[10:23] {nemo} I know...
[10:23] {Threei}  yes, formally,
[10:23] {nemo} NOBODY could be that dumb
[10:23] {ese} dino you into anything......chk
[10:23] {Threei}  what I want to see to be more confident in play is resistance tested and confirned
[10:24] {Threei}  if it weren't, it's largely theoretical resistance
[10:24] {Threei}  just lesser odds of things shaping up according to a pattern,
[10:24] {Threei}  more chance for randomness
[10:24] {Threei}  makes sense?
[10:24] {dino} cat sm l .25
[10:24] {jfjf64} in  this  case  res  wasnt tested  and  conf
[10:24] {nemo} of course
[10:25] {jfjf64} and  look
[10:25] {Threei}  that's my contention, jf
[10:25] {Threei}  idea is simple:
[10:25] {jfjf64} hmmm
[10:25] {jfjf64} what  ya  fall asleep
[10:26] {Threei}  some level is tested and held - it creates a bunch of players incorporating this fact in their orders flow
[10:26] {jfjf64} idea
[10:26] {Threei}  there will be more of them than in case of purely chartist-drawn lines
[10:26] {Threei}  thus pattern will be stronger
[10:27] {jfjf64} which then  vol increases price  moves
[10:28] {ese} Laig .62
[10:28] {ese} unna lotta
[10:29] {nemo} inna ghotta
[10:29] {ese} yessa indeeda
[10:29] {dino} kirk l .00
[10:30] {komalg} dave,are you there?
[10:30] {nemo} Dave's not here, man
[10:30] {ese} aye aye captain
[10:31] {nemo} ohh, sorry komalg, that's another cultural, or counter-cultural reference as the case may be
[10:35] {ese} L kirk .98
[10:35] {ese} gonna join ya dino
[10:38] {ese} out aig .93
[10:38] {ese} +.31
[10:38] {ese} one georgous...beautiful....breath taking little lot........wonderful
[10:39] {nemo} in kirk .00
[10:39] {dino} out kirk .15, +.15
[10:39] {Threei} Short Setup: LVS  .15 break
[10:39] {jfjf64} +15  cents  ty  dino
[10:40] {ese} out kirk .23 +.25
[10:40] {dino} wtg es
[10:40] {dino} jf too
[10:40] {nemo} magic carpet ride
[10:40] {ese} you as well
[10:41] {ese} that babys goin higher though
[10:41] {nemo} vwap above .50
[10:41] {dino} yeah
[10:41] {jfjf64} you still in  ese
[10:42] {jfjf64} im  sorry  didnt se  post
[10:42] {gregns} ty on the kirk +.23
[10:42] {ese} no
[10:42] {ese} kirk? out .23
[10:43] {Threei}  nice finds guys
[10:43] {ese} aig out .93
[10:43] {ese} praise from the chief........
[10:43] {gregns} .99 to .20 1/2 and .25 1/2 kirk
[10:44] {Threei}  LVS invalidated
[10:45] {nemo} what's your kirk target dino
[10:45] {ese} he's out
[10:45] {ese} .15
[10:45] {jfjf64} whos  on  1st
[10:45] {ese} nahhh  whats on second
[10:46] {dino} out
[10:46] {nemo} oh
[10:46] {jfjf64} what  ya  cleanin  ya gun  nemo
[10:46] {nemo} missed it...I'm sitting here pulling a dino and everybody else is having tea
[10:47] {dino} pulling a dino?
[10:47] {jfjf64} in  that  case
[10:47] {gregns} quit your kakking and pay attention, nemo
[10:47] {nemo} yeah, riding the waves dude
[10:47] {gregns} yakking
[10:48] {ese} and from what i've heard you can do that......riding the waves.......vodka waves
[10:48] {dino} hl l syut .50, gap filled
[10:49] {ese} word gets around fast here in north america
[10:49] {nemo} I have my moments
[10:49] {ese} indeed
[10:49] {jfjf64} 3i  lvs
[10:50] {gregns} i want to make sure that i am still residing on your list!!! no comment nemo?
[10:50] {nemo} not worthy
[10:50] {gregns} lol  ok
[10:51] {Threei}  it went into "got away" category, jf...
[10:52] {ese} we both misjudged intu nemo....looka datta tingga
[10:52] {nemo} ach! du lieber Gott!
[10:52] {Threei}  what's with gantsta talk, lol
[10:52] {Threei}  gangsta
[10:52] {ese} auch du miya!!!!!!1
[10:53] {nemo} never heard German called "Gangsta"
[10:53] {Threei}  not what I refer to
[10:53] {ese} vad baby!!!! thats rap
[10:53] {nemo} ahhh...which comes from where ese?
[10:53] {ese} can you do that to a beat vad....some gangsta rap!!!
[10:53] {Threei}  me?
[10:54] {Threei}  no
[10:54] {Threei}  you don't want to hear me singing or see me dancing
[10:54] {Threei}  people have been known to break down the windows trying to get away from the zone of horror when I sang
[10:55] {ese} "zone of horror"......do tell
[10:56] {komalg} Vad,WFC trade we took,why to pick .35 break as since opening there was only 1candle which has low .34
[10:56] {komalg} potential for that trade to go long was more as it has consolidation near high
[10:56] {ese} visions of Brun Hilda with the viking horns just passed through my thoughts.........wha da think nemo
[10:57] {ese} picture vad with the viking horns on with that big russian smile......hmmmmmmmm?
[10:57] {Threei}  no it hasn't
[10:57] {Threei}  high was .50
[10:58] {Threei}  .48 to be exact, with .50 tested and help prematket
[10:58] {komalg} but what is reason to go shrt
[10:59] {Threei}  big pictire trebd
[10:59] {Threei}  52 weeks lows,
[10:59] {dino} kirk l .00
[10:59] {Threei}  while market is nowhere that far down
[10:59] {komalg} I see.
[10:59] {Threei}  .35 tested couple times,
[10:59] {Threei}  established as support to break
[11:00] {Threei}  market weakness at the time
[11:00] {dino} hibb
[11:00] {komalg} I see.
[11:00] {komalg} Thank you.
[11:00] {Threei}  notice how weak it remained for a long time afer that:
[11:00] {komalg} ya
[11:00] {komalg} then .40 became resistance
[11:01] {Threei}  markjet reversed trend at 9:50
[11:01] {Threei}  went to highs,
[11:01] {Threei}  and WFC returned to .50 only at 10:23
[11:01] {dino} l .10 hibb
[11:02] {dino} veo, cree hold well last two days
[11:03] {dino} esi blood
[11:08] {dino} hibb stopped -.25
[11:09] {Threei} Long Setup:  AIF  .65 break
[11:09] {Threei}  AIG sorry
[11:09] {Threei}  to late alert?
[11:10] {Threei}  let's see if gives seciond chance
[11:10] {Threei}  as long as golding above .60
[11:15] {Threei}  invalidated
[11:23] {jfjf64} bounce  here 3i
[11:23] {jfjf64} aig
[11:24] {jfjf64} hmm  dint want  to  gv  up  .40
[11:25] {jfjf64} brcm
[11:31] {dino} hibb l .85
[11:39] {jfjf64} lvs gettin  hit  little
[11:49] {dino} out hibb .10, +.25
[11:56] {Threei}  (US) US Treasury issues August update on mortgage modification program
[11:56] {Threei}  - July foreclosures rose slightly, 37K mortgages under HAMP were modified in July
[11:56] {Threei}  - Calls housing market fragile More than 3.15 million modifi cation arrangements were done from April 2009 through the end of June 2010. This includes more than 1.3 million
[11:56] {Threei}  trial Home Affordable Modifi cation Program (HAMP) modifi cations started, over 472,000 FHA loss mitigation and early delinquency interventions, and 1.4 million proprietary modifi cations under HOPE Now. The number of agreements offered continues to more than double foreclosure completions for the same period (1.24 million).
[12:02] {ese} gotta go for an hour or so to pick up my daughter....catch you in a bit
[12:02] {Threei}  we'll be here
[12:02] {Threei}  not necessary conscious but...
[12:18] {komalg} vad,whey you say stop under .40 means what should be realistic value?..  .38 or .35 or .40?
[12:19] {Threei}  breakdown of .40 should trugger your stop
[12:19] {Threei}  trigger
[12:19] {komalg} ok.
[13:17] {strider} .
[13:18] {strider} I mean ;
[13:18] {Threei}  good call
[13:18] {strider} Yes...call of the wild
[13:19] {strider} I think we should write a letter to O, asking him to fix these sucko market trading conditions.    Perhaps a bailout is needed.
[13:21] {strider} ....or not.
[13:21] {Threei}  ah come one... you guys got spoiled by the last August which was exception
[13:21] {Threei}  otherwise, all Augusts are like this
[13:22] {strider} I wasn't here then.  
[13:22] {strider} But, if that's true--why are we here at all?  
[13:22] {strider} Vad, go home.
[13:23] {Threei}  if you insist
[13:23] {dino} can't crash 'em, so gut says up we go
[13:26] {patience} i'm with you dino
[13:39] {dino} feels like a lot of pain and scared people, so being the copntrarian i am.....
[13:40] {dino} magoo you here?
[14:01] {komalg} vad,I am reading one of your writing "surgeon,dentist and trader"...your saying that trader need to focus on market movement not on money
[14:01] {komalg} Thank you for giving this insight
[14:02] {Threei}  kind of obvious when you think of it... but not that obvious for beginners
[14:02] {komalg} and your example of surgeons are so acurate that no one can miss it
[14:03] {dino} gdot
[14:06] {hawk} i've been waiting on gdot
[14:07] {dino} ipo
[14:15] {dino} whr, cat waking up
[14:15] {Threei} Long Setup:  RIMM  .30
[14:15] {Threei}  if stays above .20
[14:15] {dino} all green scanner
[14:20] {Threei}  not a scalp for me
[14:21] {strider} does that mean you don't take 1:1 at all?
[14:21] {Threei}  normal partial routine
[14:21] {dino} ndx green
[14:21] {strider} gotcha
[14:25] {Threei}  Reid Now Nearly Tied With Pelosi In Terms of Unfavorability
[14:25] {Threei}  lol
[14:27] {strider} the old afternoon water torture
[14:29] {dino} deja vue
[14:29] {strider} right, yogi.
[14:29] {dino} all over afain
[14:30] {dino} again
[14:30] {Threei}  momentum vanes
[14:30] {strider} vank you
[14:30] {Threei}  for a moment it looked like market was ready to explode
[14:30] {dino} felt like it
[14:33] {strider} what went wrong?
[14:33] {strider} it worked.
[14:33] {i2r} guys, what port do you use for laser? for executor?
[14:33] {i2r} I think mine is reset, not sure if dave is around
[14:36] {strider} thanks for that one, vad.  out in full at .51
[14:37] {i2r} don't answer all at once :0
[14:37] {i2r} :)
[14:41] {dino} cyber i2r, can't help you
[14:41] {Threei}  welcome
[14:42] {Threei}  i2r, trying to remember whgere it was
[14:42] {Threei}  here it is
[14:42] {Threei}  15905
[14:43] {Threei}  69.64.202.157
[14:43] {Threei}  anuone is still in RIMM?
[14:44] {i2r} cyber dino? not using laser?
[14:44] {i2r} thx vad
[14:44] {gregns} yes
[14:44] {dino} y
[14:44] {Threei}  greg, should have partialed 1/2 and 1/4 by now, and trail stop for the last portion to under .40
[14:44] {Threei}  standard routine
[14:44] {dino} giddy-up
[14:45] {gregns} yes, believe it or not
[14:45] {Threei}  :)
[14:45] {Threei}  I believe
[14:45] {Threei}  these things settle in
[14:45] {Threei}  and become easier to execute
[14:45] {Threei}  and in while become second nature
[14:45] {Threei}  1:3 is coming
[14:46] {Threei}  and herein lies answer to 13:22] {strider} But, if that's true--why are we here at all?
[14:46] {Threei}  because things change
[14:46] {Threei}  1:3
[14:46] {Threei}  choice:
[14:46] {Threei}  take full profit
[14:46] {Threei}  or trail stop once again
[14:46] {gregns} out in full @.60
[14:46] {gregns} ty
[14:46] {Threei}  1:3 often proceeds to 1:4 rather quickly
[14:47] {Threei}  so it's possible variation in routine,
[14:47] {Threei}  not to take 1:3 but trail stop instead
[14:47] {Threei}  and take this chance in order to try and maximize profit
[14:48] {Threei}  quite a treat to get this trade in this situation that looked absoluitely comatose
[14:48] {Threei}  oh wait... that was me accidentally looking in the mirror
[14:50] {strider} I thought you couldn't have mirrors in your house, vad.
[14:51] {Threei}  why... I just can't see myself in them
[14:51] {strider} oh, that was it.
[14:51] {strider} confused, as usual.
[14:55] {dino} got lucky, took hours but out cat .85, +.60 out whr .39, +.54
[15:03] {Threei}  nice
[15:03] {gregns} great job  dino , wow, your patience!!
[15:03] {dino} thx
[15:04] {dino} now if itri would move and veco another dime
[15:12] {strider} X droopy
[15:44] {strider} futs in nice c&h
[15:49] {dino} out veco ..60, +.10
[15:49] {dino} out itri .99 -.01
[15:50] {dino} calling it a week all, thx
[15:54] {Threei}  take care dino
[15:54] {Threei}  thank you all
[15:55] {Threei}  now I get it right: today IS Friday, so see you all on Monday
[15:55] {Threei}  have a nice weekend guys and gals
[15:59] {larisa} bye all :)

Thursday, August 19, 2010

Aug 19 2010

Profitable but very boring day with very few trades. CAT short for 40 cents profit at 9:42 is worth checking out. 

Session Time: Thu Aug 19 00:00:00 2010
[08:30] {Threei}  (US) INITIAL JOBLESS CLAIMS: 500K V 478KE; CONTINUING CLAIMS: 4.478M V 4.50ME
[08:31] {Threei}  - Prior initial claims revised higher from 484K to 488K
[08:31] {Threei}  - Prior continuing claims higher from 4.452M to 4.491M
[08:32] {strider} Jobless claims were bound to be higher going forward from the passage of the unemployment benefits extension.
[08:34] {Threei}  and prior were bound to be revised higher going forward from the biased reporting
[09:04] {dino} gm all
[09:04] {Threei}  dino :)
[09:07] {hawk} morning
[09:09] {Threei}  hawk :)
[09:15] {strider} morning folken
[09:16] {jfjf64} mornin
[09:17] {Threei}  strider, jf :)
[09:17] {strider} :)
[09:18] {Threei}  CAT Reports 3 month dealer statistics; May through July; retail sales of machines +32% y/y ; Sales of Reciprocating & Turbine Engines to Retail Users & OEMs +5% y/y
[09:22] {larisa} gm :)
[09:23] {Threei}  larisa :)
[09:23] {larisa} vad :)
[09:28] {strider} SYMC
[09:28] {nemo} interesting
[09:28] {Threei}  reacts on MFE buyout
[09:28] {nemo} offers at .97 and 14
[09:29] {nemo} .97 gone moved to .98
[09:30] {hawk} gotta be a good day, Rocky rang the opening bell
[09:33] {nemo} wow ntap
[09:34] {ese} morning
[09:34] {Threei}  ese :)
[09:36] {Threei}  watching RIMM and CAT for entry on pullback
[09:36] {Threei}  RIMM around .70
[09:37] {Threei}  CAT under 70
[09:42] {Threei} Short Setup: CAT  .40 break if stays under .50 half lot
[09:42] {Threei}  not a scalp
[09:42] {nemo} too fast
[09:45] {Threei}  covering half
[09:46] {komalg} should I take if It comes to .40 level again?
[09:46] {ese} mrkt shrugging off jobbles claims report....should have tanked alot more
[09:46] {Threei}  no, that would be a third time
[09:46] {ese} ?
[09:46] {Threei}  second is fine
[09:46] {Threei}  third isn't
[09:46] {strider} out in full +.19
[09:46] {Threei}  1;2
[09:47] {Threei}  ese... how to figujre out how much market should have tanked...
[09:47] {Threei}  it's all perceptions
[09:48] {Threei}  have a look at this for instance:
[09:48] {Threei}  Fed open market operations may drive short-term equity gains this morning
[09:48] {Threei}  - Back in the days of the Fed's Permanent Open Market Operations in 2009 there were often quantifiable equity gains on days when the Fed purchased bonds as part of its various qualitative easing programs.
[09:48] {Threei}  - Now that QE is back, investors can expect the equity sugar rush from the Fed's operations to return as well.
[09:48] {Threei}  how do you balance that vs job report?
[09:49] {strider} rimm broke
[09:49] {Threei}  RIMM is getting into bounce zone
[09:49] {Threei}  wanted to short it, then decided it would be too much leaning on a short side, between CAT and RIMM
[09:50] {Threei}  CAT 1:3
[09:51] {Threei}  1:4
[09:51] {Threei}  out in full
[09:51] {Threei}  +_.40
[09:51] {hawk} nice one
[09:51] {jfjf64} well done
[09:51] {komalg} good one
[09:51] {Threei}  can I go home?
[09:52] {komalg} no
[09:52] {jfjf64} missed it
[09:52] {jfjf64} lol
[09:52] {Threei}  how do you miss it?
[09:52] {Threei}  it returned to a trigger
[09:52] {jfjf64} kiddin
[09:52] {jfjf64} ty
[09:52] {nemo} komalg...etiquette
[09:52] {Threei}  givinf second chance entry
[09:52] {komalg} me too.I missed it
[09:52] {strider} recross long?
[09:53] {Threei}  both RIMM and CAT are where I wanted them for bounce, watching
[09:53] {nemo} 50 ma right here
[09:54] {Threei}  RIMM bounced roght from .70
[09:54] {Threei}  no indication
[09:54] {Threei}  grr
[09:54] {nemo} spy gonna' lose support
[09:55] {strider} numbers in 5
[09:57] {komalg} just for study purpose,what kind of set up did you find for CAT?
[09:58] {Threei}  JBE failure
[09:59] {Threei}  both RIMM and CAT bounced without giving me clear setup
[09:59] {Threei}  oh well
[10:00] {Threei}  *(US) JULY LEADING INDICATORS: 0.1% V 0.1%E
[10:00] {hawk} geesh
[10:00] {Threei}  *(US) AUG PHILADELPHIA FED: -7.7V 7.0E
[10:00] {Threei}  whoa
[10:00] {Threei}  eeck
[10:01] {jfjf64} yeahhhhhhhhh
[10:01] {Threei}  hopw the heck do you miss in your estimates THAT much?
[10:01] {jfjf64} lol
[10:02] {dino} dji, s/p mon gap filled
[10:03] {ese} exactly....with the leading indicators coming in as expected
[10:03] {hawk} RIMM holding ok so far
[10:03] {dino} and obama says we arte moving in right direction
[10:04] {dino} i guess his goal is equality, as in everybody is poor
[10:04] {jfjf64} leave bobo outa this
[10:05] {Threei}  lol
[10:05] {jfjf64} cat  time
[10:06] {jfjf64} ?
[10:06] {Threei}  can't tell, really
[10:06] {jfjf64} tough
[10:06] {ese} anyone else here on Mibbit....how do you get rid of these "chat with these good looking babes" advertisement that appears at the top
[10:06] {jfjf64} hate this
[10:07] {nemo} stop surfing porn...and get better anti-spyware
[10:07] {strider} switch to mirc
[10:07] {ese} how do you get rid of this crap
[10:07] {dino} no idea es
[10:07] {jfjf64} was  thinkin  they wer 3i friends
[10:07] {ese} lol
[10:07] {jfjf64} from asia with love
[10:08] {nemo} ese, try setting up privoxy...look into it after the trading day
[10:08] {ese} ouu ouch......
[10:09] {ese} that might just be the best l've seen anyone get on vad since i've been on this board
[10:09] {ese} lick
[10:09] {nemo} damn, now I have something for which to strive
[10:09] {ese} yup
[10:09] {jfjf64} my  wife  sees  tht from  timeto time wonders  who im  chattin  with
[10:10] {jfjf64} a russian  day  trader  i say  3i
[10:10] {jfjf64} lol
[10:10] {ese} rotflol
[10:10] {ese} day trader"s"
[10:10] {Threei}  I bet she saysd "pervert" under her breath
[10:10] {ese} plural
[10:10] {jfjf64} when  ya  fig how  to  get  off   HELP  ty
[10:11] {jfjf64} ya  like  massagee
[10:11] {jfjf64} lol
[10:12] {ese} lol
[10:12] {jfjf64} aahh   mk  myself  laugh
[10:12] {dino} sm l itri .93 thin
[10:15] {Threei}  USD/JPY USD moves below 85 handle after Philly Fed data; near 15-year lows
[10:16] {ese} hmmmm  now it says "BROWSE THOUSNADS OF LOCAL SINGLES ONLINE"...nemo i think there talking about your neck of the woods
[10:16] {nemo} they're everywhere
[10:16] {nemo} I think most of them are married
[10:16] {strider} in ITRI .93
[10:16] {ese} lol.......and you have personal experience with this?
[10:17] {nemo} db symc?
[10:19] {Threei}  I doubt it
[10:19] {nemo} short then?
[10:20] {nemo} play for the rebate?
[10:20] {Threei}  if anything at all, then yes, I'd be hunting for short on it
[10:20] {nemo} oy...I need sleep
[10:20] {Threei}  I mean, why is it even up so much?
[10:20] {Threei}  competitor bought out?
[10:21] {Threei}  so what, it's not like it makes SYMC buyout candidate automatically too
[10:21] {nemo} I guess there are buyout rumors of Google buying Akamai
[10:21] {nemo} btw, that is
[10:21] {nemo} mmhhhh....look for IC&H here on symc?
[10:22] {Threei}  just DBI
[10:22] {Threei}  too squished for C&H
[10:22] {nemo} volume coming in
[10:28] {jfjf64} good
[10:28] {jfjf64} trigerr finger gettin  itchy
[10:32] {Threei} Long Setup:  RIMM  .75 break
[10:32] {ese} L ntes
[10:33] {Threei}  stop under .70
[10:33] {ese} .11
[10:33] {Threei}  half out
[10:33] {Threei}  1:2
[10:34] {Threei}  ridiculous to play RIMM with 5 cents stop but that's the power of good setup {G}
[10:34] {Threei}  1:3
[10:34] {Threei}  SYMC breakdown works like charm
[10:35] {ese} out .26
[10:35] {ese} ntes +.15
[10:37] {ese} L dndn pullback .63
[10:37] {ese} out dndn .82 +.19
[10:38] {jfjf64} lvs  break dn
[10:38] {ese} lucky......shouldn't have been typing there....dndn was moving too fast
[10:41] {strider} stop itri
[10:41] {gregns} ty vad & nemo on the symc
[10:43] {Threei}  1:4
[10:44] {dino} still in dstridr
[10:45] {strider} had stop .04 below lod
[10:45] {strider} didn't work
[10:45] {dino} ok
[10:45] {strider} should have stopped at b/e
[10:45] {dino} it trades gappy
[10:48] {ese} ok.....i have this feeling that it will be a small up day  by the end of the day.......anyone else have that gut feeling
[10:50] {dino} ipi gap fill
[10:51] {komalg} no,as per Vad saying,I don't have any thinking  or gut feeling
[10:51] {dino} yes es
[10:51] {Threei}  RIMM 1 to I can't count that much
[10:51] {komalg} pls tell what kind of set up for RIMM? looks like JBE?
[10:52] {hawk} lol, could be really high by the end of the day
[10:52] {dino} this bads news is good, ...for elections.\
[10:52] {komalg} with ascending triangle?
[10:52] {Threei}  right now you mean?
[10:52] {komalg} no,at the time of placing trade
[10:52] {Threei}  oh
[10:53] {Threei}  bounce after selloff, finding support and breaking upper resistance afrer forming the minirange at the bottom
[10:54] {komalg} thank you.
[10:54] {larisa} nano range :)
[10:55] {ese} heres why i think that......on 7/01 indexes were dn16%...climbed back up and are now dn11%....10% is the usual correction.....selling here does not seem that dramatic to me.....
[10:56] {ese} nemo....your the index guy....thoughts?
[10:57] {strider} still watching ipi, dino?
[10:58] {gregns} ese , my gut says no, due to the way it is acting now since the drop ?? only my gut tho, not from the smidgeon of knowledge i posess
[10:59] {ese} hmmmmm........
[10:59] {dino} y
[10:59] {strider} c-sharp?
[10:59] {nemo} ese, on today being a small up day..I don't think so, look at the hourly on the spy, you have a double top, and two solid pieces of bad news today, last night I was looking at spy, and thought today would be down anyway
[10:59] {ese} b flat
[10:59] {strider} damn
[10:59] {strider} I'm losing it.
[11:00] {nemo} tell us something we didn't know
[11:01] {ese} you thinkin we need another bottom in spy nemo
[11:01] {ese} i was looking at that as well
[11:02] {nemo} what I think is it is currently in a range between about 106 and 113 until it breaks those ranges...my opinion would be that nobody will particularly want to be long going into the weekend
[11:02] {nemo} We also have to keep in mind this is opex, yes?
[11:03] {nemo} Also, moneyflows were negative yesterday in the inverse etfs, but that was before today's news
[11:03] {ese} i tend to go by trend lines.....one from the top of  04/26 to the top of 06/21 and then 07/20 bounceses off the top of it.....
[11:03] {ese} spy
[11:04] {ese} was thinking that the dn trend was broken
[11:05] {dino} whr gap fill
[11:05] {nemo} yes it was, but you also have a range that developed starting end of may and has been pretty consistent, if anything an Inverse H&S
[11:05] {ese} sorry not clear there......07/20 bounces off the top of that dn trend line
[11:05] {ese} hmmmmmmmm ok....theses a thought
[11:05] {ese} theres
[11:08] {ese} 05/25 left shoulder 07/01 head and maybe 08/16 possible dn right shoulder.....ok...i can see that
[11:08] {ese} spy of course
[11:09] {nemo} so, we can see what we want to see...we'll know when the big money gets back in September
[11:09] {Threei}  DNDN Hearing Deutsche Bank making positive comments on Provenge insurance coverage (timing uncertain) (38.31, -0.02, -0.05%)
[11:10] {ese} agreed.....
[11:11] {ese} what are you following for money flow nemo
[11:11] {nemo} a friend of mine's proprietary analyses
[11:11] {strider} whoa
[11:12] {ese} ahhhh.....and who might that be
[11:12] {strider} excuuuusssse me!
[11:12] {nemo} Pascal Willain
[11:12] {ese} neat........but never heard of him...
[11:12] {ese} where do we look
[11:15] {dino} wsm sm l .30
[11:15] {nemo} send a check  ;)
[11:15] {nemo} bank check
[11:16] {strider} full (.30) stop on wsm, dino?
[11:16] {dino} ndx filled 1821 gap, monday
[11:17] {dino} .99
[11:17] {strider} thx
[11:17] {dino} np
[11:18] {dino} hope it works
[11:18] {dino} whr interesting
[11:18] {dino} itri held well
[11:21] {dino} whr sm l .24r
[11:23] {dino} 'r=fat finger
[11:23] {strider} your stop, dino?
[11:25] {dino} .93
[11:25] {strider} thx
[11:38] {dino} whr stopped
[11:38] {strider} yeah
[11:46] {dino} lol uaw bans foreign cars on union lots
[11:48] {strider} long itri .63
[11:48] {strider} long .63
[11:48] {strider} sorry
[11:49] {Threei}  trying to get a feel whether SYMC worth a short at 13 break or it will turn into water torture trade
[11:52] {strider} ctt halted
[11:54] {Threei}  oh yessss!!
[11:54] {Threei}  (US) President Obama to issue statement on US economy soon, following recent US data points
[11:54] {Threei}  SYMC Hearing UBS making cautious comments, not likely company is a takeover candidate (timing uncertain) (21.52, +0.22, 1.03%)
[11:54] {strider} stop itri
[11:55] {strider} oh well
[11:55] {Threei}  UBS agrees with me on that
[11:55] {dino} i hear ya strider. we were a bit early
[11:57] {strider} yep
[11:59] {dino} wfc 52 wk low
[12:00] {Threei}  CTT Announces New Date for Previously Postponed NYSE Amex Delisting Hearing (22.83, -0.93, -3.91%)
[12:01] {strider} and the halt is going to accomplish exactly what?
[12:02] {dino} wsm last try hl l .65
[12:02] {Threei}  prove the idiocy of the halts
[12:02] {dino} halts are b.s.
[12:03] {dino} skx hl l .00
[12:10] {strider} GE lod
[12:19] {dino} hl l itri .55
[12:29] {strider} short wsm .65
[12:32] {Threei}  (US) President Obama: Weekly jobless claims figures argue for the Senate immediately vote and pass the stalled small business lending bill (related EUR/USD TLT SHY JOBSX )
[12:35] {strider} stop wsm
[12:35] {strider} I can hear a sucking sound
[12:35] {strider} coming from my computer
[12:48] {dino} zzzzzzzzzzzzz
06[12:52] * Threei is putting a pillow on the desk where the chin's trajectory meets the hard surface
[12:54] {komalg} .
[13:05] {ese} i'm with ya there vad
[13:06] {Threei}  great
[13:07] {Threei}  let's launch one of those fruitful discussions of advatnagesd and shortcomings of diff kinds of vodka and whisky
[13:07] {larisa} ne nado
[13:07] {hawk} let me get a drink first
[13:07] {Threei}  ok... we won't
[13:07] {Threei}  cognac, larisa?
[13:08] {larisa} mors
[13:08] {Threei}  sorry, can't discuss champaine, I don't know much about it
[13:08] {Threei}  nor carrot juice
[13:09] {patience} i am researching agricultural machinery stocks, any suggestions?
[13:09] {larisa} you becoming a farmer patience? :)
[13:09] {patience} looking for where puck is heading larisa
[13:09] {larisa} :)
[13:10] {patience} won't make it as a farmer
[13:10] {patience} planted masses when i got home from asia
[13:10] {Threei}  does a compaany manufacturinf carrot juice makers count?
[13:10] {patience} i'll add it to the list
[13:10] {patience} crop in the back 40 is doing zippo this year
[13:15] {strider} can't connect to laser.   lost connection.  rebooted.  got internet. no laser.
[13:16] {hawk} ditto strider
[13:16] {strider} y'all check our connections
[13:16] {strider} your
[13:18] {strider} nothing here.    I gotta go.  
[13:18] {hawk} still nothing
[13:26] {laserdave} hey guys
06[13:26] * Threei slaps laserdave around a bit with a large absence of connection
06[13:26] * nemo slaps laserdave around a bit with a large trout
[13:26] {laserdave} we are aware of laser being down for nbcf users
[13:26] {laserdave} it is down on genesis end
[13:27] {laserdave} will let you know as i hear info regarding this
[13:27] {laserdave} sorry for inconvienice
[13:27] {Threei}  have to give it to you dave - if you must have downtime, you picked he best day for it
[13:27] {komalg} dave.I got yr email.Thank you.
[13:28] {komalg} pm.dave
[13:28] {laserdave} nprobs komalg
[13:31] {i2r} nbcf? what's that?
[13:31] {Threei}  shhhh i2r
[13:31] {Threei}  no one knows, and we are not supposed to ask
[13:31] {nemo} it's an IT region
[13:41] {Threei}  I officially nominate this day as The Day of Boredom, 2010 Winner
[13:43] {laserdave} i heard laser is up now
[13:43] {laserdave} or getting close
[13:43] {laserdave} can you guys log in now?
[13:43] {Threei}  trying
[13:43] {laserdave} ty
[13:43] {hawk} y
[13:43] {laserdave} could be false alarm
[13:43] {laserdave} ok cool
[13:43] {Threei}  yup
[13:43] {Threei}  I am in
[13:43] {komalg} Vad,If you don't mind,can I ask you question?....This morning we took CAT ,you told that reason for taking that trade is failure of JBE
[13:44] {Threei}  yes
[13:44] {komalg} How can you tell that this is failure set up?
[13:44] {Threei}  easy
[13:44] {Threei}  look at JBE structure,
[13:44] {komalg} pls explain
[13:44] {Threei}  you'll see that it has two lines,
[13:44] {nemo} need a credit card number komalg
[13:45] {komalg} why
[13:45] {Threei}  upper envelope break of which consitutes a trigger
[13:45] {nemo} Vad charges extra for this...I get a cut for processing ;)
[13:45] {komalg} are you looking at 1 min or 5 min?
[13:45] {Threei}  and lower, which is a support and constitutes either stop level if trade is triggered,
[13:45] {Threei}  or invalidation level if it didn't.
[13:45] {Threei}  1 min
[13:45] {Threei}  Now,
[13:45] {komalg} no he will appreciate how is trying to understand set up
[13:46] {komalg} who*
[13:46] {Threei}  if the lower envelop is broken
[13:46] {Threei}  you can view it in two ways:
[13:46] {Threei}  1. invalidation of breakout setup
[13:46] {Threei}  and
[13:46] {Threei}  2. trigger for the trade in opposite direction,
[13:46] {Threei}  which makes a setup two-sided
[13:47] {Threei}  that can be presented this way:
[13:47] {Threei} Long Setup:  ABCD  20 break if holding above 19.90
[13:47] {Threei} Short Setup: ABCD  19.90 break if holding under 20
[13:47] {i2r} lol
[13:48] {nemo} ?
[13:48] {Threei}  not each setup and not always can be looked at as two sided,
[13:48] {nemo} what's so funny i2r
[13:48] {nemo} ?
[13:48] {i2r} the credit card processing
[13:48] {i2r} sorry, i'm behind in reading the chat
[13:48] {nemo} oh...went over like a lead baloon
[13:49] {Threei}  but in this particular case, CAT went up too far andf too fast,
[13:49] {komalg} ABCD symbol?
[13:49] {Threei}  consolidation looked weak,
[13:49] {Threei}  market was reversing,
[13:49] {Threei}  si I picked breakdown
[13:50] {komalg} price for ABCD symbol is differernt for me=3.00
[13:50] {Threei}  that's just a random example...
[13:50] {Threei}  I didn't even know there was a stock abcd, lol
[13:51] {komalg} I see.
[13:51] {nemo} yeah, look at the volume Vad,
[13:51] {komalg} I I get it now.
[13:51] {Threei}  the concept behind all this is a phrase said at the seminar I gave with Alan farley, and I can't for the world of me remember who of us said that
[13:51] {Threei}  "Setup failure is a setup too"
[13:52] {komalg} ys,it's true.I am getting there.
[13:52] {hawk} and don't forget the "failure of a failure" setup
[13:52] {Threei}  I hope it was me but if not - it was Alan
[13:52] {Threei}  yeah
[13:52] {jfjf64} lvs  lod
[13:53] {larisa} Alan wrote about it in his  master swingtrader book, was seminar after that? :)
[13:54] {Threei}  yes
[13:54] {Threei}  so it was him
[13:54] {Threei}  darn
[13:55] {Threei}  can I at least claim word "and", I used it in my book
[13:55] {i2r} repeating great stuff is just as great
[13:55] {larisa} failure of a failure  is his too :)  too deep for me :)
[13:55] {i2r} lol
[13:56] {komalg} Vad,how would you define envelop?
[13:56] {Threei}  just a line
[13:56] {komalg} means previous high
[13:56] {Threei}  no,
[13:56] {Threei}  envelop is a line drawn through a few highs or lows
[13:56] {Threei}  can be norisonatl, can be inclined
[13:57] {komalg} but trigger was shrt@.40,if it stays under ..50
[13:57] {komalg} so envelop line should be .40 and .50
[13:58] {Threei}  yes
[13:58] {Threei}  it tried .50 a few times
[13:58] {Threei}  couldn't break it
[13:58] {komalg} I see.
[13:58] {Threei}  .40 acted as a slight support a few times
[13:58] {komalg} I see.
[13:59] {komalg} I am guessing that you are still seeing 1 min chart for all this detail..right?
[13:59] {Threei}  .30-.35 zone was more pronounced support
[13:59] {Threei}  but I wanted aggressive entry with tighter stop
[13:59] {Threei}  yes
[13:59] {dino} out wsh .95 +.30
[13:59] {Threei}  oooh, I remember now how it happened and why I am confused about who said that
[14:00] {Threei}  I was talking about pattern life cycle,
[14:00] {jfjf64} lets go lvs  die
[14:00] {Threei}  how it blossoms, then more and more people start using it
[14:00] {Threei}  so it becomes less effective,
[14:00] {Threei}  then turns into its opposite so people playing it become trapped
[14:00] {Threei}  and that it's rtime to start fading the pattern
[14:01] {Threei}  and at this point Alan commented from the back row with that phrase
[14:01] {Threei}  so it was my day and my topic, and his phrase
[14:04] {komalg} Thank you
[14:11] {ese} ok ...so maybe this is a double bottom in the spy,ders......maybe i can do something now.....mybe?
[14:14] {komalg} for CAT is it DBE break out?
[14:22] {Threei}  sorry, didn't see it
[14:22] {komalg} ok.
[14:28] {nemo} tna short looking better
[14:40] {nemo} shoulda' known, stopped out by .05
[14:44] {komalg} nemo, what drives you to think that TNA short is good
[14:44] {komalg} just curious
[14:46] {nemo} resistance level at .90, high volume candle @14:24 followed by difficulties breaching resistance, should have taken 1:1 at trend line, the true short was the next peak
[14:57] {ese} L X .00
[15:03] {ese} hmmmmmmmm
[15:04] {dino} zzzzzzzzzzzzzzzzzzzzz
[15:10] {dino} out skx .35, +.35
[15:13] {ese} good one dino......in this mrkt
[15:13] {dino} thx
[15:13] {dino} whr l .75
[15:14] {ese} L another K in
[15:14] {ese} X
[15:14] {ese} avg .01
[15:14] {nemo} think spy goes to .25
[15:17] {ese} hope so
[15:18] {dino} out whr .25, +.50
[15:19] {ese} out X .14
[15:19] {dino} fl
[15:19] {ese} +.13 with 2k
[15:20] {dino} gj
[15:22] {ese} tks.......that should just about be it for me today
[15:25] {ese} hmmm can this market make it almost back to positive,,,,,,,that would say something
[15:27] {ese} nahhh......end of the day short covering....it's got to far to go
[15:45] {dino} cky, syut,veco all held well
[15:48] {dino} s/p gap filled and monthly low held, sp far
[15:48] {dino} so\
[15:49] {ese} outta here all...take care cya tomorrow
[15:49] {dino} cya
[15:49] {ese} cya dino
[15:49] {hawk} bye es
[15:50] {Threei}  take care ese
[15:54] {Threei}  okay guys, this day wins a prize of the most boring day this year
[15:55] {Threei}  profitable though
[15:55] {Threei}  I'll yawn all the way to the baank
[15:55] {Threei}  thank you all, have a great weekend
[15:55] {Threei}  see you on Monday
[15:55] {nemo} tomorrow
[15:55] {Threei}  oops
[15:55] {hawk} we didn't give you tomorrow off
[15:55] {Threei}  I thought it was friday
[15:55] {hawk} :)
[15:55] {Threei}  lol
[15:55] {Threei}  sorry
[15:56] {Threei}  brain freeze
[15:59] {patience} the vacation did it to you vad
[16:06] {dino} gn all

Wednesday, August 18, 2010

Aug 18 2010

Useless day with a few too many stops and invalidations. There was however nice play worth an educational chart. Double top with aggressive entry.



Session Time: Wed Aug 18 00:00:00 2010
[08:47] {magoo} morning
[08:48] {Threei}  Good morning
[08:59] {Threei}  reading JAZZ news, I am not sure I understand why it's up a point with change inxtead of being down 5
[08:59] {magoo} ifi remember, that one can be a momo
[09:01] {Threei}  yes
[09:01] {Threei}  but heckj
[09:01] {Threei}  read for yourself:
[09:01] {Threei}  Jazz Pharmaceuticals FDA Staff: Jazz has provided sufficient evidence to support the efficacy of sodium oxybate for the treatment of fibromyalgia
[09:01] {Threei}  - The Division determined that the efficacy analyses of the data do not support the Applicants proposed labeling claims of improved sleep.
[09:01] {Threei}  - The general safety profile in fibromyalgia is consistent with the currently approved Xyrem in narcolepsy.
[09:01] {Threei}  - The distribution restrictions of sodium oxybate containing products for its various approved indications has to take into consideration patient access and the possible increases in rates of abuse, misuse (including drug facilitated sexual assault) and diversion.
[09:01] {Threei}  - Approval of sodium oxybate for treatment of fibromyalgia may also result in increased reporting rates of adverse reactions due to interactions of sodium oxybate with other central nervous system depressants used in the fibromyalgia patient population.
[09:01] {Threei}  - In addition, sodium oxybate is a drug of abuse and misuse. The illicit, nonpharmaceutical form is a Schedule I controlled substance. Pharmaceutical products (Xyrem) containing sodium oxybate are currently in Schedule III. Any product containing sodium oxybate and approved for fibromyalgia will be similarly scheduled.
[09:18] {hawk} any news NFLX Vad?
[09:19] {Threei}  Time Warner Inc HBO plans to stream shows on the iPad and other mobile devices with an application ready in 6 months
[09:19] {Threei}  - Note: The company is still holding out from allowing NetFlix to offer its shows streaming.
[09:19] {Threei}  NFLX Morgan Keegan Cuts NFLX to Underperform from Outperform
[09:19] {larisa} gm :)
[09:19] {Threei}  larisa :)
[09:19] {hawk} ah, ok thx...and gm
[09:19] {Threei}  :)
[09:22] {dino} gm all
[09:23] {Threei}  dino :)
[09:29] {dino} agq
[09:30] {dino} gap 58.45ish
[09:31] {Threei} Long Setup:  LVS  .15 break
[09:31] {Threei}  if stays above .05 for scalpers, 30 for day traders
[09:34] {nemo} quite the line in the sand at .05
[09:34] {Threei}  let's trail stop to under it for day traders too
[09:35] {Threei}  no go
[09:37] {Threei} Short Setup: RIMM  .85
[09:37] {Threei}  if stays under 51
[09:37] {Threei}  half lot
[09:38] {Threei}  LVS rinse
[09:41] {Threei}  RIMM no worky
[09:43] {komalg} should I go for LVS it hits .15?
[09:44] {komalg} I missed last enry
[09:44] {Threei}  no, that's a different situation now and requires new setup
[09:44] {komalg} ok
[09:46] {nemo} rimm forming support at .10
[09:49] {ese} morning
[09:49] {Threei}  ese :)
[09:49] {nemo} dude
[09:49] {ese} dude
[09:49] {ese} 30k bike ride took a little longer than anticipated
[09:49] {nemo} the motor die?
[09:50] {ese} exercise
[09:50] {ese} was almost out at vad's house.....thought about popping in and trading from there
[09:51] {komalg} Vad,LVS is holding .15 level
[09:52] {nemo} what's the high komalg
[09:52] {komalg} 30.35
[09:52] {Threei}  it's holding .10
[09:52] {Threei}  lost .15 a few times
[09:52] {nemo} looking a bit short actually
[09:53] {komalg} what is corelation between hign and level .15?.nemo
[09:53] {Threei} Long Setup:  FCX  .20 break half lot
[09:53] {Threei}  late.. grrr
[09:54] {Threei}  see if pulls back to about .20
[09:54] {ese} L cagc .61
[09:56] {Threei}  market looks like making one more pullback, then reversing to the upside
[09:56] {Threei}  if we are lucky, we can catch FCX around .20,
[09:56] {ese} out cagc .90
[09:56] {Threei}  RIMM uinder .30
[09:57] {Threei}  .40 break FCX is possible, just not my favorite... and much more risky
[09:57] {ese} +.29   cool...farmed it out at .90 and it took it
[09:57] {ese} thought it was gonna give me mid to low .80's
[09:57] {Threei}  nice one ese
[09:57] {ese} tks
[09:57] {Threei}  no luck FCX
[09:58] {dino} cpl
[09:58] {Threei}  if anyone went for .40, take profit here
[09:58] {ese} eh eh nemo!!!!!!! wha da ya say ehhhh.......30k bike ride keeps the mind sharp........huh?
[09:59] {rdw09} Ty Vad FCX + .18
[09:59] {Threei}  :)
[10:06] {Threei} Short Setup: FCX  .50 break
[10:06] {Threei}  half lot
[10:06] {Threei}  if stays under .645
[10:06] {Threei}  .65
[10:07] {Threei}  .55 break semi-aggressive entry is possible
[10:07] {Threei}  invalidated
[10:10] {Threei} Short Setup: RIMM  .40 break
[10:10] {Threei}  if stays under .50
[10:10] {Threei}  invalidated
[10:11] {nemo} .50 if stays under .60?
[10:11] {Threei}  no
[10:13] {magoo} there goes lvs
[10:15] {dino} ctrn sm l .01
[10:16] {dino} stop lod
[10:16] {dino} syut sm l .05
[10:16] {strider} .
[10:17] {Threei}  Preview: DOE (EIA) Petroleum Inventories due at 10:30ET
[10:19] {jfjf64} mornin
[10:20] {Threei}  jf :)
[10:20] {strider} morning here, too.
[10:21] {Threei}  what a coincidence
[10:26] {Threei} Short Setup: RIMM  .40 break
[10:26] {Threei}  if stays under .50
[10:29] {magoo} in
[10:29] {strider} in .38
[10:30] {Threei}  *DOE CRUDE: -820K V -1.0ME; GASOLINE: V -375KE; DISTILLATE: V +1.4ME UTILIZATION: % V 87.2%E
[10:30] {strider} out
[10:30] {Threei}  shrug
[10:30] {Threei}  invalidations and rinses
[10:31] {Threei}  GASOLINE: -40K V -375KE; DISTILLATE: +1.07M V +1.4ME UTILIZATION: 90.0% V 87.2%E
[10:31] {Threei}  GOOG Plans to lauch tablet computer to compete with iPad, model to run Chrome OS - Gizmodo
[10:31] {Threei}  - The Chrome OS tablet will be manufactured by HTC, launched on Verizon, and go on sale on November 26th.
[10:31] {Threei}  - Report also cites features that include a NVDA Tegra 2 graphics, a 1280x720 multitouch display, 2GB RAM, 32GB SSD, WiFi/Bluetooth/3G connectivity, and webcam
[10:31] {magoo} out
[10:31] {Threei}  IMMU Immunomedics and GE Healthcare in Research Collaboration
[10:32] {Threei}  Immunomedics Inc Immunomedics and GE Healthcare in Research Collaboration
[10:32] {Threei}  entered into a license and collaboration agreement for the evaluation of labeling technologies based on Immunomedics' patented F-18 peptide labeling method. Terms of the agreement were not disclosed, but GE Healthcare will fund all costs related to this collaboration.
[10:33] {magoo} LVS
[10:33] {magoo} LVS
[10:39] {komalg} why are looking for short on RIMM?
[10:39] {komalg} *we
[10:40] {Threei}  we are not anymore
[10:40] {Threei}  there was short setup at the moment
[10:40] {komalg} I understand/
[10:44] {hawk} nice spot on LVS mags, thx
[10:47] {magoo} ty, was just distracted here
[10:47] {magoo} hit l .79 out .93 on it
[10:47] {Threei}  oh boy... guess who's on TV
[10:48] {strider} I know this time.
[10:48] {strider} Lou Salome.
[10:48] {magoo} david copperfield?
[10:55] {ese} l X .83
[10:57] {ese} out 1/2 X .00 +.17
[10:57] {nemo} ese, could you explain your rationale for that play?
[10:57] {ese} stop to break even balance
[10:57] {larisa} break of previous high he went for
[10:58] {larisa} kinda risky it was bounsing sinse .40
[10:58] {larisa} but worked :)
[10:58] {nemo} yeah, and the high was .95 prior to that...god love him
[10:58] {nemo} frickin' musicians
[10:58] {larisa} lol
[10:59] {ese} hey nemo ...lookin for a break of .80....but it also fits one of the patterns in vads book
[10:59] {dino} whr sm l .49
[10:59] {nemo} I see a range break but the stop looked so big
[10:59] {ese} except that the range was a little large 40pts
[11:00] {nemo} you have a horshoe somewhere in your anatomy?
[11:00] {nemo} horseshoe
[11:00] {ese} I wasn't going to use that kind of stop below .40
[11:00] {ese} for me 1/2 of that range was good
[11:00] {larisa}  stop would be around .75, short time trend line
[11:01] {nemo} oh...yeah...duh
[11:01] {larisa} X is strong today, so valid trade
[11:01] {ese} out remainder X .23
[11:01] {ese} +.42
[11:01] {nemo} kewl
[11:02] {Threei}  wtg
[11:02] {dino} gj
[11:02] {magoo} out .33 X ty ese :)
[11:02] {ese} 2k/2k....a good days work
[11:05] {ese} the other thing that i try to focus in on nemo is the time and sales.......after watching vads scalp trading video and a few questions to him i've started to become alot more aware of momentum
[11:05] {nemo} what did you see?
[11:05] {dino} chk hl l ,90
[11:06] {ese} with X this was classic...it was medium then it started to pick up some steam the 3rd time........gut feeling came into play a little here
[11:07] {ese} does not happen all the time but this time you could feel it
[11:08] {Threei}  musicians and their feelings...
[11:09] {Threei}  if I sound sour, there is a good reason for that: got one here who needs to practice Rakhmaninov for the next couple hours... I need soundproof room for that piano
[11:09] {Threei}  hate open concept houses, lol
[11:09] {ese} "Feelings.............nothing more than feelings!!!!!"
[11:10] {dino} out whr .00, +.51
[11:10] {Threei}  nice one dino
[11:10] {dino} ty
[11:10] {ese} actually i hate that tune..........been done badly too many times
[11:11] {Threei}  RIMM suddent drop
[11:18] {ese} have any of you seen this web site (http://www.stockmapper.com/STXtrac.html)   this is where i saw X
[11:19] {ese} you have to clic on it to udate it but it a pretty effective heat map
[11:23] {magoo} takeover rumor i beliebve X
[11:23] {magoo} making my day, reloaded
[11:23] {ese} ya.........lots of strength here
[11:23] {magoo} waiting .43
[11:23] {nemo} just blew through r3
[11:23] {ese} i'll say
[11:25] {ese} ok ....nows theres something i don't get.......mags...how do you get the nerve to get back in...once i'm out i'm out
[11:25] {ese} how do you judge that strength
[11:26] {strider} dino, what you looking for out of chk?
[11:27] {dino} hod
[11:27] {strider} thx
[11:27] {gregns} i appreciate this disccusion , it helps me to learn, thanks
[11:27] {nemo} there are no such things as stupid questions....
[11:28] {nemo} ...unless you're Les   ;)
[11:28] {strider} m: ArcelorMittal not likely pursuing US Steel, says Dahlman Rose
[11:30] {magoo} sorry still in
[11:31] {dino} sm s x .25
[11:31] {dino} bstop is .52
[11:37] {strider} dino, from here would you still hold stop at .52?
[11:38] {dino} b/e
[11:38] {strider} tx
[11:38] {dino} np, its a free trade now
[11:39] {dino} should have broke .00 w/whoosh
[11:40] {strider} whoosh
[11:40] {dino} to .85
[11:40] {dino} nope, battleground
[11:41] {jfjf64} computer prob all week
[11:41] {dino} gremlins
[11:41] {magoo} careful itds gonna launch imo
[11:42] {jfjf64} was workin off lap top  one  monitor  o  windows xp  just fine
[11:43] {dino} tighten to .15
[11:43] {strider} just what I was thinking.
[11:43] {jfjf64} upgrade system  + 4 monitors   windows 7
[11:43] {strider} nice db formed.
[11:43] {jfjf64} real mess
[11:44] {nemo} that's Microsuck for you
[11:44] {ese} L hd .85
[11:44] {jfjf64} didnt someone say if not broke dont fix
[11:44] {magoo} what u using? as in wind 7?
[11:45] {dino} hope that doesn't get ,e jf, moving my office this weekend
[11:45] {dino} e=me
[11:45] {nemo} no e=mc2
[11:45] {dino} tighten to .00
[11:45] {jfjf64} my trading system not compatible with  7
[11:46] {jfjf64} swarb  chuckie
[11:46] {magoo} what u using?
[11:46] {magoo} xp here
[11:46] {dino} cyber?
[11:46] {jfjf64} switchin bk to xp
[11:46] {magoo} vista was the crap
[11:46] {strider} out .93
[11:47] {dino} gj
[11:47] {jfjf64} yes  there system cyber plat
[11:47] {dino} same
[11:47] {dino} running xp
[11:48] {jfjf64} that what y use dino
[11:48] {dino} cov. +.25
[11:48] {Threei}  Microsft said they'll support XP till 2014, so I intend to use it to about 2017
[11:48] {dino} yes
[11:49] {jfjf64} yup   7  pure  sh   t     4  trading
[11:49] {jfjf64} imo
[11:50] {dino} sticking w/xp until something dies
[11:50] {strider} me too.
[11:51] {komalg} Vad,what brokerage are you using?
[11:52] {strider} dino where your stop on chk now?
[11:54] {dino} .79
[11:54] {Threei}  one that is reperesented by the form on our website
[11:54] {ese} out hd .85 even......commissions of course
[11:54] {jfjf64} our   ltk  tha
[11:55] {jfjf64} lol
[11:55] {komalg} I see.I sent them email abt 2 days ago...didn't get email from them
[11:55] {Threei}  normally they respond next day
[11:56] {komalg} also one more question,how much is min amount for day trading?
[11:56] {Threei}  5K
[11:56] {jfjf64} not 25k
[11:56] {komalg} so I can take any number of trade?
[11:57] {Threei}  yes
[11:57] {komalg} so good.
[11:57] {komalg} other brokerage won't allow till I have 25 K
[11:57] {komalg} what is comission and fees?
[11:58] {Threei}  commissions are on that webpage with form
[11:58] {nemo} .005 per share +data feeds, +ecn fees, which can also be rebates
[11:59] {Threei}  fees may depend on the country and trader status so that's for you to clear out with their rep
[11:59] {komalg} Thank you.I am going to follow up.
[11:59] {magoo} lots of news X
[11:59] {magoo} im long .20 again
[12:00] {Threei}  there is no fresh news on it
[12:00] {magoo} i cover quick, so careful
[12:00] {magoo} ill get out to get in lower
[12:01] {magoo} 11:03 and 11:17 vad
[12:01] {Threei}  none here
[12:01] {Threei}  you sure it's really fresh?
[12:02] {dino} chk to b/e
[12:03] {magoo} out
[12:06] {magoo} l rimm fitty
[12:06] {magoo} looking for new high
[12:06] {magoo} crap
[12:06] {magoo} every timre i post drops
[12:06] {magoo} ,55 started typing
[12:07] {magoo} stop .39
[12:16] {nemo} short setup X vad?
[12:16] {nemo} break of .80
[12:17] {nemo} stop above  .89...too late
[12:17] {strider} in .79
[12:18] {strider} partially in
[12:19] {strider} out 1/2
[12:20] {dino} gj
[12:23] {strider} out x in full.
[12:24] {strider} thanks nemo
[12:24] {Threei}  gj
[12:24] {strider} only got 200 shares,
[12:24] {Threei}  ok... not a gj
[12:24] {strider} full lot usu. 400
[12:25] {strider} that's better.
[12:25] {Threei}  glad to oblige :)
[12:30] {dino} ioc
[12:30] {strider} m: ArcelorMittal not likely pursuing US Steel, says Dahlman Rose
[12:31] {strider} wrong.  ignore.
[12:31] {strider} om: T2 Partners predicts InterOil on track to run out of cash, Business Insider says
[12:31] {strider} there
[12:31] {dino} hmmm
[12:31] {strider} is that a bad thing, you think?
[12:32] {dino} soros added to his stake q2
[12:33] {strider} Whitney Tilson of T2 Partners, which owned 1,623 put contracts on InterOil (IOC) as of June 30, believes the company has no proven or probable reserves in its Sierra Madre holdings, according to Business Insider. Moreover, the company is going to run out of cash soon, T2 Partners believes
[12:33] {strider} August 16, 2010
[12:33] {strider} 16:02 EDT IOC
[12:33] {strider} theflyonthewall.com: InterOil reports Q2 EPS 17c vs. consensus of 10c
[12:35] {dino} quite the battle on it
[12:38] {strider} don't much like the spread.
[12:41] {Threei} Short Setup: RIG  .80 break
[12:41] {Threei}  half lot
[12:41] {Threei}  .95 stop'
[12:45] {magoo} just a feeling, but believe X will attack its day high sometime
[12:45] {magoo} today
[12:45] {Threei}  IMGN Announces Orphan Drug Designation Granted to Lorvotuzumab Mertansine for Treatment of Small-Cell Lung Cancer (9.30, +0.26, 2.88%)
[12:46] {Threei}  Gold making a fresh six week high ahead of the pit close in NY
[12:46] {Threei}  - hearing desks noting todays strong reversal has been accompanied by solid Asian and Middle Eastern buying ahead of Friday's options expiration.
[12:48] {Threei}  stop can be trailed to above .90
[12:51] {strider} short .84
[12:51] {dino} sm l ioc .97
[12:53] {Threei}  not a scalp if works
[12:57] {strider} out 1/2 +.10
[12:57] {strider} .74
[13:01] {strider} dino, get ese to buy a bunch of CHK...that'll run it up.
[13:01] {Threei}  1:1, covering half
[13:03] {strider} out in full .61 +.23
[13:03] {strider} thanks vad.   a good one.
[13:04] {Threei}  welcome
[13:05] {magoo} ty, nice
[13:05] {Threei}  if this one didn't work, I would try to find wet paper bag and try to trade my way out of it
[13:05] {Threei}  I suspect I wouldn't be able to do that
[13:06] {strider} haha
[13:06] {i2r} lol
[13:06] {Threei}  1/4 more out
[13:06] {Threei}  last piece is out here.42
[13:06] {dino} took all day but out ctrn .50, +.49
[13:07] {Threei}  +.38
[13:07] {i2r} gj vad
[13:07] {Threei}  ty
[13:07] {Threei}  finally hooked decent one
[13:07] {dino} gj
[13:07] {i2r} really good call
[13:07] {gregns} ty
[13:07] {strider} {--------quietly folds paper bag and puts back in drawer.
[13:07] {Threei}  lol
[13:08] {magoo} long rimm .50, loike my 4th try
[13:09] {dino} out ioc .75, +.78
[13:10] {Threei}  komal, I spoke to dave, he said he has your e-mail and will cotact you today
[13:11] {magoo} komalg wants u
[13:11] {magoo} daves coming
[13:12] {strider} dave's not here.
[13:15] {i2r} dino, +.78??? nice job!
[13:15] {dino} ty
[13:16] {magoo} mkts up 47..wow
[13:16] {magoo} nice dino
06[13:17] * magoo slaps laserdave around a bit with a large trout
[13:17] {laserdave} shoudl of new that was coming
[13:17] {komalg} ok
[13:18] {komalg} thank you.
[13:18] {laserdave} pm komalg
06[13:19] * Threei slaps laserdave around a bit with a large list of people asking for his attention
[13:19] {laserdave} :)
[13:20] {komalg} pm dave
[13:21] {i2r} thx vad, indeed
[13:21] {strider} vad, do you ever trade bull flags?
[13:21] {strider} e.g., HD
[13:24] {Threei}  sure
[13:24] {Threei}  every time when I say:
[13:24] {Threei}  long on pullback
[13:24] {Threei}  what is it if anot a bull flag?
[13:25] {strider} would trigger be at break of top trend line?
[13:25] {Threei}  I am not sure I understand what you mean in this case
[13:25] {Threei}  can you give prices?
[13:26] {Threei}  people draw those lines in zillion ways
[13:26] {strider} HD treneded down till 1:22...green candle.
[13:26] {strider} Would break at 1:24 be trigger?
[13:27] {Threei}  1:22?
[13:27] {Threei}  you lost me
[13:27] {strider} ok
[13:27] {Threei}  at 1:22 it was barely under the high
[13:28] {strider} typical bull flag has top trend line and bottom trend line.
[13:28] {Threei}  how is it treded down?
[13:28] {strider} do you see trigger as break of top trend line?
[13:28] {Threei}  you mean this little retreat from the top?
[13:28] {strider} forget HD:)
[13:28] {strider} just asking generally.
[13:28] {Threei}  OK
[13:28] {Threei}  draw
[13:28] {strider} bang
[13:28] {strider} I win.
[13:28] {Threei}  this is too theoretical and subjected to different visions
[13:30] {Threei}  what you mean by those "trend lines" is not necessary what anyone else means until you show drawing
[13:31] {strider} in typical bull flag....a series of lower highs and lower lows.    question was, does an upside break of the lower highs trendline constitute a trigger for you?
[13:31] {Threei}  no
[13:31] {Threei}  you take a little piece of a bigger picture
[13:32] {Threei}  flag does not exit in vacuum
[13:32] {Threei}  flag is created in context of uptrend,
[13:32] {Threei}  making hugh,
[13:32] {strider} yes
[13:32] {Threei}  pulling back from it,
[13:32] {strider} hefner?
[13:32] {strider} yes
[13:32] {i2r} lol
[13:32] {Threei}  and this is whole complex that needs to be taken into account:
[13:32] {strider} k
[13:33] {Threei}  how uptrend is structured,
[13:33] {Threei}  where last support is,
[13:33] {Threei}  how pullback looks,
[13:33] {Threei}  and what the signs of pullback being over are.
[13:33] {Threei}  So,
[13:33] {Threei}  if your pullback crosses upper trendline after touching on the latest support
[13:34] {Threei}  or does it somewhwere in the middle
[13:34] {Threei}  those are two different situatikons
[13:34] {Threei}  how volume shapes up during the pullback is another factor
[13:34] {strider} y
[13:36] {strider} HPQ climbing slowly today
[13:41] {strider} LVS
[13:48] {dino} .
[13:53] {gregns} c & h forming on MOS ? 1200 to now?
[13:53] {Threei}  pretty much
[13:53] {Threei}  volume is not really classic shape
[13:54] {Threei}  but price configuration is right
[13:54] {gregns} thks
[13:54] {ese} .
[13:58] {Threei} Long Setup:  BP  .50 break
06[13:59] * Threei slaps laserdave around a bit with a large subject of unknown and probably extraterresterial origin, looking strangely appropriate for slapping dave
[13:59] {dino} hmmmm
[14:01] {i2r} hmm
[14:02] {magoo} hm
[14:03] {i2r} vad, when you say break, do you actually set the price to like .55 and hit buy the moment it's at .51 or how do you figure it's a .50 break without losing the entry?
[14:03] {Threei}  principle is right, I just don't fo as far as 5 cents out for the thick stock like BP
[14:03] {ese} aye lads and lassies........itsa harda to contribute to the board ehhhhh   when ya just canna fine nuttin
[14:03] {Threei}  couple cents is enough
[14:04] {nemo} your command, or lack thereof, of English makes it difficult
[14:04] {komalg} so what is stop in this case?
[14:04] {Threei}  under .40
[14:05] {dino} slowwww es
[14:05] {Threei}  that's nothing nemo, you shald hear him speaking after third shot of vodka
[14:05] {nemo} then I switch to German
[14:05] {i2r} k tx
[14:06] {nemo} yeah...but you also forgot to tell them I consider a shot to be a tea glass
[14:06] {Threei}  are there any others?
[14:06] {i2r} Vad, is the break trigger considered the pricing going to .51, .52 or just anything above .50?
[14:07] {Threei}  anything above .50, but there is one necessary condition:
[14:07] {nemo} there are americans/canadians on this board who wouldn't know that
[14:07] {Threei}  price level should actually disappear on level2, especially in case of big offers
[14:07] {Threei}  otherwise you can be lured in by out of bounds print
[14:08] {i2r} can you explain?
[14:08] {Threei}  caused by someone with brokerage of 18 century
[14:08] {Threei}  who gets screwed up on execution
[14:08] {nemo} Dino...where we end today
[14:08] {i2r} probably in laser it disappears? in TD I am not sure how to see that
[14:08] {Threei}  just watch level 2, make sure that price level that serves as break treshold gets actually taken out
[14:09] {Threei}  does TD even have level 2?
[14:09] {i2r} now I"m even questioning whether I know what level 2 is, i thought level 2 is when I see the quotes and a bunch of them
[14:09] {i2r} below the current bid and above the current ask
[14:09] {Threei}  right
[14:09] {i2r} like a dome
[14:09] {Threei}  they are colored
[14:09] {i2r} right
[14:10] {Threei}  so when we look for .50 break,
[14:10] {Threei}  you have a bunch of them in yellow at .50,
[14:10] {Threei}  some in purple at .51
[14:10] {Threei}  some in red at .52
[14:10] {Threei}  etc
[14:10] {Threei}  that yellow should dissipate in full
[14:10] {i2r} got it
[14:11] {Threei}  so .51 becomes yellow (color for inside quote)
[14:11] {i2r} where can I find the meaning of colours?
[14:11] {Threei}  there is none, you can assign those you like
[14:11] {nemo} creee, should bounce around here
[14:11] {i2r} then what are the meanings besides different quotes?
[14:11] {i2r} like inside quotes?
[14:11] {i2r} what is inside quotes?
[14:11] {Threei}  just to make different price levels visible
[14:12] {Threei}  without reaading actrual numbers
[14:12] {Threei}  as you would have to if not for colors
[14:12] {Threei}  let me make a quick screen shot
[14:13] {komalg} Vad,can you pls teach how  to be pateince with drawdown? like....I entered @.50 break but when price reach to .42, I was not able to take pressure
[14:13] {strider} good call nemo.  missed it
[14:14] {dino} nemo, flat to slightly up
[14:14] {Threei}  i2r
[14:14] {Threei}  http://realitytrader.com/vad/Level2%20color%20scheme.jpg
[14:15] {i2r} see it, thx.
[14:15] {i2r} so price point separates 1 cent change?
[14:15] {Threei}  is it what you see with TD?
[14:15] {Threei}  well, for this stock it's 1 cent
[14:15] {i2r} a bit less info, but the middle part yes
[14:16] {Threei}  but look for instance at GOOG
[14:16] {i2r} true, sometimes I see diff colour for price 2 or 3 cent diff
[14:16] {i2r} yes, larger range for GOOG
[14:16] {Threei}  C&H on MOS wortks nicely
[14:17] {Threei}  good spot greg
[14:17] {Threei}  komal... thbis is trading psychology area
[14:17] {komalg} yes. understand.
[14:17] {Threei}  reread corresponding chapter of MPP,
[14:17] {Threei}  look through blog,
[14:17] {Threei}  part devoted to psychology
[14:17] {komalg} O.K.
[14:18] {Threei}  this kind of things must become a focus of attention,
[14:18] {Threei}  something to work with
[14:18] {Threei}  and ultimately, this is going to be what makes or breaks a trader
[14:18] {i2r} anyway for me to get a layout file from someone that has proven to be practical?
[14:18] {gregns} thks
[14:18] {komalg} I am aware of dirrent kind of technicque,but while I am in trade,I am kind of lost
[14:18] {Threei}  laser layout you mean?
[14:19] {i2r} yes
[14:19] {Threei}  mine is for 4 monitors setup, so laser spans over 3 monitors
[14:19] {Threei}  if you need something more modest, ask dave,
[14:19] {Threei}  he has a few of those
[14:19] {nemo} i2r, decide what you would want, we'll tell you the windows
[14:19] {i2r} one app spans 3 monitors?
[14:19] {Threei}  yes
[14:20] {Threei}  take a look at my monitors:
[14:20] {i2r} well, would be good to get the basic idea, nemo, of what you guys see
[14:20] {i2r} cause my thoughts will be history based, TD, and might be limiting
[14:20] {Threei}  http://realitytrader.com/vad/Scr1.png
[14:20] {Threei}  http://realitytrader.com/vad/Scr2.png
[14:20] {Threei}  http://realitytrader.com/vad/Scr3.png
[14:20] {dino} ctrn l .06
[14:20] {Threei}  http://realitytrader.com/vad/Scr4.png
[14:21] {i2r} i usually look for the daily and by the minute, order entry, market view, index view, L2 and chart for 2 tickers
[14:21] {i2r} thx vad
[14:21] {i2r} ok, I recognize scr1 as intelliscan
[14:22] {nemo} dcc i2r
[14:25] {i2r} oh i see how it's done
[14:26] {magoo} any read X vad, feels UP
[14:26] {Threei}  feels up to me too
[14:27] {gregns} bp is not a scalp if it goes, correct?
[14:27] {Threei}  hard to tell really
[14:27] {Threei}  no opinion
[14:28] {gregns} ok
[14:34] {strider} you see entry for X, vad?
[14:35] {nemo} maybe better short unless breaks .50 on volume, it's above R3 so how much farther it can run id debatable
[14:35] {Threei}  pullback to about .20 I would get very interested
[14:35] {Threei}  break, don't know
[14:36] {magoo} l .49
[14:36] {magoo} thinking .70 area
[14:36] {strider} well, there's R4:)
[14:36] {magoo} might dupe me
[14:36] {nemo} r4 would be 51.18
[14:37] {strider} I was thinking maybe R3.276
[14:37] {nemo} 3.1416
[14:38] {strider} boy, I got two hot ones....bp and chk
[14:39] {Threei}  LVS S&P raises ratingone notch to B from B- (30.15, +0.39, 1.31%)
[14:39] {dino} lol, chk here too
[14:40] {dino} huvl
[14:41] {strider} that daily looks bad, dino.
[14:41] {dino} :D
[14:41] {dino} thinny
[14:41] {strider} with blood dripping from the corner of his mouth/
[14:42] {strider} think we ought to take a dime, chk?
[14:43] {dino} thinking yes, can't get thru .05
[14:46] {komalg} what's yr opinion for BP?
[14:46] {strider} I think it blows
[14:46] {dino} roflol
[14:46] {magoo} harte BP, always wears me out
[14:46] {nemo} komalg might not understand the idiom
[14:47] {magoo} cut it...then vad says "1:1, 2:1 AHHHHHHHHHHHH
[14:47] {dino} lol
[14:47] {magoo} after i lose a nicklee
[14:50] {Threei}  that's because you try to approach every trade as some creative act
[14:50] {nemo} bidu break of .55 might work
[14:51] {magoo} no, i dont use hard stops so i gotta stare at it
[14:51] {magoo} but hey, gave u credit as a winner
[14:51] {strider} you're charts are slow, nemo.
[14:51] {magoo} i just cant watch it that long
[14:51] {nemo} wtf?
[14:51] {nemo} nah...lost support
[14:52] {strider} I thought you meant short.
[14:52] {strider} anybody could see that.  :)
[14:52] {nemo} oh, sorry
[14:53] {strider} {-------looking for paperbag again
[14:53] {nemo} bidu might form the right side again
[14:53] {strider} {---faxing to vad
[14:53] {nemo} offer .55
[14:57] {dino} out chk .00, +.10
[14:57] {nemo} cough
[14:58] {strider} short .39 bp
[15:02] {strider} it's quiet.....too quiet.
[15:09] {strider} stop chk +.01
[15:10] {strider} piece of crap
[15:14] {dino} the dime looks good now, lol
[15:14] {strider} cover 1/2 bp+.09
[15:14] {strider} no kidding dino
[15:15] {strider} I got a penny
[15:23] {dino} sm l ioc .87
[15:24] {dino} scok
[15:27] {dino} esi
[15:32] {dino} scok, seems china mine ban
[15:42] {strider} MOS theflyonthewall.com:  Mosaic downgraded to Hold from Buy at Standpoint Research
[15:42] {nemo} bidu could be short here
[15:42] {nemo} break of 83
[15:42] {nemo} too fast
[15:43] {dino} stop ioc .70 -.17
[15:46] {Threei}  GM *FORMALLY FILES IPO
[15:46] {strider} big whoop
[15:47] {strider} I hope nobody buys any
[15:47] {Threei}  hey, you are dismissing what may be a start of car manufacturing industry in USA
[15:47] {Threei}  oh, wait...
[15:47] {strider} uh huh
[15:48] {Threei}  lol
[15:48] {Threei}  anyway:
[15:48] {Threei}  no shares of common stock to be sold; offering series B preferreds
[15:48] {Threei}  shrug
[15:48] {strider} see, they're afraid nobody will come to their party
[15:48] {Threei}  Registers common stokc for selling shareholders, including the US Treasury
[15:48] {Threei}  what's with all the trickery
[15:49] {Threei}  I am disgusted
[15:49] {Threei}  oh wait...
[15:49] {Threei}  I've been already
[15:49] {dino} syutout =.06
[15:49] {dino} -.06
[15:49] {strider} 1/4 bp at  +.05
[15:50] {strider} this is getting teejus
[15:50] {ese} hmmmmmm......did nothing for ya eh dino
[15:50] {dino} yes
[15:50] {Threei}  - Common stock outstanding immediately after following at 500M shares; The number of shares to be offered and the price range have not been determined
[15:50] {Threei}  - We have no current plans to pay dividends on our common stock.
[15:50] {strider} really?
[15:51] {dino} lol
[15:51] {ese} well.....i'll see you all tomorrow......
[15:51] {strider} see ya eses
[15:51] {strider} ese
[15:51] {Threei}  take care ese
[15:51] {ese} later eh
[15:52] {strider} somebody sit on bp
[15:52] {dino} out ctrn -.06
[15:53] {dino} gotta hop, tee time. l8r all
[15:53] {strider}  didn't kjnow you drank tee
[15:54] {nemo} dude needs help
[15:58] {strider} out final bp +.09
[15:59] {strider} all that non-work for nothing
[15:59] {Threei}  okay guys
[15:59] {Threei}  useless day
[15:59] {Threei}  they seem to take turns
[16:00] {Threei}  thank you all
[16:00] {Threei}  have a good evening
[16:00] {Threei}  see you tomorrow
[16:00] {hawk} nite all
[16:00] {strider} thanks vad.
[16:00] {Threei}  which should be good if pattern holds
[16:00] {strider} this could work out OK.  Just trade every other day.
[16:01] {strider} More drinking time, eh?
[16:01] {Threei}  and don't confuse them
[16:01] {strider} oh, yeah.  there's that.