Friday, July 9, 2010

Jul 09 2010

Nice day with 4 wins out of 5 trades - no interesting charts to show though, pretty much run-of-the-mill stuff.


Session Time: Fri Jul 09 00:00:00 2010

[08:18] {hawk} good morning
[08:18] {nemo} yet to be determined
[08:19] {hawk} true, not for bidu
[08:19] {nemo} oh...the google/china announcement...that might make for good plays today...I'm not sure that whole scenario is played out yet
[08:45] {Threei}  Baltic Dry Bulk Index declines approx 2% (31st straight decline)
[08:45] {Threei}  - Index at 1,902.
[08:45] {Threei}  ***Note: This is the longest declining streak in nearly 9 years.
[08:47] {Threei}  IMF's Lipsky: European Monetary Fund is not a good idea
[08:47] {Threei}  IMF is but EMF isn't?
[09:06] {Threei}  Cavaliers owner's reaction to Lebron's exit is beyond ridiculous
[09:06] {Threei}  whole charade though is
[09:06] {Threei}  all the attention, national media speaking of nothing else
[09:06] {Threei}  shrug
[09:06] {hawk} yeah, that was bad
[09:06] {nemo} Florida has no income tax...how can you compare Cleveland to Miami...and the Heat are set up to win
[09:07] {Threei}  you'd think there is no more problems in the country to occupy minds and hearts
[09:07] {nemo} my thoughts go to Mencken
[09:08] {nemo} ok  bidu retraced 50% off the drop 200 ma at 70
[09:10] {Threei}  Obama administration gives BP 24 hours to answer list of questions about containment effort
[09:11] {strider} Or else??
[09:11] {Threei}  I honestly don't know what irritates me more, BP's actions leading up to all this or administration reaction
[09:12] {Threei}  (US) Reportedly SEC and Exchanges consider forcing market makers to offer quotes within 10% of stock price
[09:12] {Threei}  say what?
[09:14] {strider} doesn't make much sense, does it?
[09:14] {strider} Mebbe the SEC is going to determine the price of stocks now.
[09:15] {Threei}  that would be ultimate solution
[09:15] {strider} after all, everybody wants to do what's 'fair'.
[09:16] {Threei}  and good intention as we all well know...
[09:18] {nemo} hey hawk, look at bidu
[09:18] {Threei}  hawk, don't
[09:18] {nemo} face reality
[09:18] {dino} gm all
[09:18] {Threei}  I don't know what the catch is, but if nemo advises it, there must be one
[09:18] {nemo} eschew....ehh...what was it?
[09:18] {Threei}  dino :)
[09:18] {nemo} dino :)
[09:19] {strider} bless you.
[09:19] {nemo} don't quit your day job strider
[09:19] {Threei}  full text:
[09:19] {Threei}  US) Reportedly SEC and Exchanges mulling new rules for market makers requiring they offer quotes within 10% of stock price - unconfirmed report on
[09:19] {Threei}  - Ahead of passage of the new FinReg bill, SEC reportedly considering a quote band of 8% for market makers.
[09:19] {Threei}  - Also considering ban on 'stub quotes' or allowing market makers to offer significantly high/low prices for stock sources.
[09:19] {hawk} lol nemo
[09:20] {nemo} so who is going to subsidize the market makers when the stock should drop or rise above that price band OMFG!
[09:20] {dino} sec will soon mandate stocks can only go up
[09:20] {magoo} ello mates
[09:21] {Threei}  lol, they show a plane on TV with russian spies,
[09:21] {Threei}  I envision 10 folks sitting inside, looking at each other,
[09:21] {Threei}  shrugging and saying:
[09:21] {Threei}  oh well, we had a good run
[09:21] {Threei}  good bye american suburbia
[09:21] {dino} lol
[09:22] {Threei}  living on KGB money and sending back ridiculous reports for many years
[09:22] {Threei}  anyone wants to hire me as an agent?
[09:23] {lasertrev} good morning
[09:23] {Threei}  trev :)
[09:23] {nemo} yet to be ascertained Trev
[09:23] {nemo} hi lari :)
[09:23] {larisa} gm :)
[09:23] {Threei}  larisa :)
[09:24] {lasertrev} :)
[09:27] {dino} cpts
[09:27] {magoo} wow vad...look at bidu recovery of 4 pts
[09:27] {jfjf64} mornin
[09:27] {Threei}  it's an "expected news" play
[09:27] {Threei}  jf :)
[09:28] {Threei}  Google's license was renewed for China
[09:29] {Threei}  how to interpret this, who knows
[09:30] {Threei}  APSG Wins $11.4M in New Intelligence, Surveillance, and Reconnaissance Contracts
[09:30] {Threei}  - Received contract awards with a total value of $11.4 million for integrated logistics support
[09:32] {Threei}  SEC's Schapiro: It is not the SEC's job to define what good or bad governance is for companies
[09:32] {Threei}  strange
[09:32] {jfjf64} i say
[09:32] {Threei}  short of diet for board members, I'd think they want regulate everything
[09:34] {Threei} Long Setup:  SYMC  .53
[09:34] {ese} gm
[09:34] {Threei}  ese :)
[09:35] {nemo} bidu should get at leat to 71.50
[09:36] {nemo} touched and dropped
[09:36] {Threei}  stop /short lvs 23 break
[09:37] {Threei} Short Setup: LVS  23 break
[09:37] {Threei}  SYMC stop under .45
[09:37] {Threei}  LVS invalidated above .10
[09:38] {magoo} TSLA bounce vad?
[09:38] {Threei}  from under 17
[09:38] {Threei}  let it drop more
[09:38] {Threei}  spread is horrific
[09:38] {Threei}  SEC, where are you
[09:39] {strider} short LVS .10
[09:39] {nemo} scalp it strider
[09:39] {Threei}  make them all bid and offer withing 5 cents band
[09:39] {nemo} if it breaks .08 on the up get out
[09:39] {strider} stp[[ed .15
[09:40] {strider} stopped, too.
[09:40] {Threei}  SYMC, hard to tell scalp or juice
[09:41] {Threei}  stop is tight enouhg, broke important resistance on daily
[09:41] {Threei}  probably deserves a chance
[09:41] {nemo} just a thought...given how European markets are flat, likely not to be many big plays today
[09:42] {Threei}  (US) Preview: May Wholesale Sales due out at 10:00ET
[09:42] {Threei}  **Consensus expectation: 0.4%e v 0.4% prior
[09:42] {Threei}  spike is coming on .60 break for first partil
[09:43] {Threei}  partial
[09:44] {Threei}  1:1
[09:44] {Threei}  half out, stop to .49
[09:44] {Threei}  scalpers know what to do
[09:45] {Threei}  TIVO Hearing vague positive chatter related to court case developments against DISH (8.09, +0.36, 4.66%) (related DISH SATS )
[09:45] {dino} kss hl l .70
[09:46] {strider} in kss
[09:46] {jfjf64} dndn  sharp  sellllllllll
[09:47] {strider} offer at .90
[09:47] {Threei}  DNDN is bounce ready, but risk is very high on this one
[09:47] {Threei}  .10 break
[09:47] {Threei}  if holding 31
[09:47] {Threei}  highly discretionary
[09:48] {strider} out, tks dino
[09:48] {ese} in
[09:49] {dino} gj
[09:49] {ese} sm
[09:49] {Threei}  KS) UN Security Council issues statement condemning sinking of South Korean warship
[09:49] {Threei}  - Statement does not explicitly blame North Korea
[09:49] {ese} lousy fill .13
[09:49] {Threei}  ummm... who then?
[09:49] {ese} stopped dndn .97
[09:49] {ese} =.16
[09:49] {ese} -
[09:49] {dino} spineless whimps
[09:49] {magoo} news FCX vad? strong
[09:50] {nemo} might be good short here mags
[09:51] {Threei}  no fresh news mags
[09:51] {Threei}  LVS, hunting for bounce,
[09:52] {Threei}  one more leg down
[09:52] {Threei}  from under .80 most likely
[09:52] {nemo} 30 min chart fcx mags
[09:53] {Threei}  .90 is questionable level
[09:53] {Threei}  want it lower
[09:53] {strider} BP
[09:54] {Threei}  ok
[09:54] {Threei}  watch SPY for clue
[09:54] {nemo} s fcx 19 stop .35
[09:54] {nemo} .19
[09:55] {Threei} Long Setup:  LVS  .80 cross
[09:55] {nemo} out 1/2 .02
[09:55] {Threei}  if hgolding above .70
[09:55] {magoo} spy ugly
[09:55] {magoo} short fcx .21
[09:55] {ese} indeed ugly
[09:56] {nemo} stop b/e
[09:56] {nemo} out 2n hapf
[09:56] {nemo} half
[09:56] {magoo} that sucked
[09:57] {nemo} +.17  5 seconds
[09:57] {nemo} that's too much luck in too short a time
[09:57] {Threei}  LVS re-established
[09:58] {magoo} in
[09:59] {dino} nice
[10:00] {Threei}  *(US) MAY WHOLESALE INVENTORIES: 0.5% V 0.4%E
[10:00] {Threei}  Prior revised lower from 0.4% to 0.2%
[10:01] {strider} 1/2 out LVS
[10:01] {Threei}  over 1:1
[10:01] {magoo} out .97 TY + .17
[10:01] {Threei}  welcome
[10:01] {ese} L nem .14
[10:01] {Threei}  1:2
[10:02] {nemo} l fcx .51
[10:02] {nemo} half out .60
[10:02] {ese} out 1/2 nem
[10:03] {ese} .24 +.10
[10:03] {nemo} 1/4 .70
[10:03] {nemo} stop to b/e
[10:03] {ese} remainder stop to .16
[10:03] {jfjf64} that nice  3i    nice
[10:03] {jfjf64} ty
[10:03] {Threei}  :)
[10:03] {Threei}  gosh, almost forgot I still have half SYMC
[10:04] {Threei}  who is holding it, careful, this one can put you to sleep
[10:04] {nemo} out last 1/4
[10:04] {jfjf64} must  be  nice
[10:04] {ese} stopped remainer nem .17 +.03
[10:04] {magoo} sh fcx .54
[10:05] {ese} hmmmmm stop should have been at break even
[10:05] {Threei}  .54?
[10:05] {Threei}  after sharp selling?
[10:05] {magoo} well, it was falling and saw .46
[10:05] {magoo} just missed out
[10:05] {magoo} i was in the selling
[10:07] {ese} L nsc .15
[10:08] {Threei}  Arizonas immigration law: Just 28% favor the Justice Department lawsuit against the state while twice as many are opposed
[10:08] {Threei}  was there any other president so consistently finding himself on the opposite side of the public opinion?
[10:10] {magoo} BP crushed
[10:10] {Threei}  Toyota Motor Corp President: Toyota is looking to partner with more firms to develop alternative fuel technology - Nikkei
[10:10] {Threei}  ***Reminder: On 06/11 Toyota and Tesla partnered to create a prototype electric car in 2010
[10:11] {nemo} agu short if stays under 15 and drops below 17?
[10:11] {nemo} uner .15
[10:11] {Threei}  huh?
[10:11] {nemo} agu
[10:11] {Threei}  below 17?
[10:12] {dino} hl s clf .40
[10:12] {nemo} 57
[10:12] {nemo} sorry
[10:12] {Threei}  not sure
[10:12] {nemo} me neither ;)
[10:12] {Threei}  if market derops sharply, could work but do half lot
[10:12] {Threei}  volatile thing
06[10:12] * magoo slaps nemo around a bit with a large trout
[10:13] {Threei}  bounce just as likelyt
[10:13] {ese} out 1/2 nsc .26 +.11
[10:13] {nemo} ty mags,
[10:13] {ese} stop to break even
[10:13] {dino} cov/stopped clf -.13
[10:14] {nemo} well, that's off the table for now
[10:14] {ese} out in full nsc .33
[10:15] {ese} +.18 balance of pos
[10:15] {ese} hmmmmm.32 and change not quite .33
[10:16] {nemo} agu might be back on the menu
[10:17] {magoo} cov .36 +.18 fcx
[10:18] {nemo} nice mags
[10:18] {magoo} its really strong tho
[10:18] {magoo} tough short
[10:18] {nemo} yes
[10:18] {dino} cpts hl l .65
[10:18] {nemo} I played it short and long
[10:18] {nemo} scalp
[10:18] {ese} L twx .05
[10:19] {magoo} i missed our fist sh exit...u got out
[10:19] {nemo} yeah, it dropped so fast after entry I said one in hand two in bush....one in hand
[10:20] {Threei}  FAS is stronger than SPY today
[10:21] {Threei}  watching for long entry on pullback
[10:21] {nemo} we're also getting to the point where the market should change direction
[10:22] {Threei}  it's onbiously nerws for market
[10:22] {Threei}  news
[10:22] {nemo} watch .84 level on bidu
[10:22] {ese} out twx .11 +.06
[10:24] {nemo} bidu not going with market
[10:26] {nemo} there it goes
[10:26] {nemo} spread too much for me though
[10:26] {Threei}  FAS, .40 is nearest support level
[10:27] {strider} out 1/2 TWX +.06, tks ese
[10:27] {nemo} rimm happy as hell today
[10:27] {Threei}  waiting patiently for it to form something sae
[10:27] {strider} still in 1/4 LVS
[10:27] {dino} s kss .99
[10:27] {strider} short BP .84
[10:28] {ese} big move by mon today
[10:29] {nemo} all ags...been moving last few days
[10:29] {ese} well done ST with twx......wasn't moving as fast as i have wanted
[10:30] {strider} probably should be out in full now. stop to b/e
[10:30] {dino} cpts stopped, -.33
[10:30] {strider} BP stop sto .91
[10:31] {strider} to
[10:31] {strider} stopped final LVs .98 +.17
[10:31] {Threei}  I'd say oversat it a bit
[10:32] {strider} I suree did.
[10:32] {strider} sure
[10:32] {Threei}  greed has its place but there must be some sane limit on it :)
[10:32] {nemo} you have to be sane
[10:32] {nemo} ?
[10:32] {nemo} oh oh
[10:32] {Threei}  some of us
[10:32] {Threei}  let me check what list you are on
[10:33] {Threei}  nah, relax, you can stays as you were
[10:33] {nemo} oh oh
[10:33] {Threei}  stay
[10:33] {Threei}  missed FAS near .40
[10:33] {Threei}  grrr
[10:34] {strider} bid 1/2 BP .70
[10:34] {Threei}  price wise it was where I wanted it but didn't indicate definite entry
[10:34] {strider} out BP b/e
[10:34] {ese} qgen looks promising to me
[10:35] {Threei}  BP Reportedly Anadarko has sent notice to BP it will withhold reimbursements
[10:35] {Threei}  crrrrap
[10:35] {ese} L qgen .22
[10:35] {Threei}  shoot me now, FAS
[10:35] {Threei}  ideal drop right into support
[10:35] {Threei} Long Setup:  HAL  .20 break
[10:36] {dino} kss bstop to .01 thing is stuck
[10:37] {nemo} of course it is, you bought it (or sold as the case may be)
[10:37] {dino} yeah, i messed it up
[10:37] {nemo} don't quit your day job
[10:37] {nemo} oh...this is your day job :)
[10:38] {strider} offer 1/4 TWX .15
[10:38] {dino} lol
[10:38] {strider} boop
[10:38] {nemo} in hal
[10:39] {strider} in
[10:39] {strider} stop?
[10:39] {nemo} oh, damn...double tappe the order
[10:39] {Threei}  under .10
[10:39] {nemo} .10
[10:39] {strider} doubly blessed.
[10:41] {dino} cpts l .39
[10:44] {nemo} out hal
[10:44] {ese} qgen has to get by .23
[10:44] {strider} out .09 HAL
[10:45] {dino} cov kss .91, +.08
[10:46] {dino} cpts to .52
[10:47] {dino} out cpts .54, +.15
[10:47] {ese} qgen.......finally
[10:48] {strider} stop bal TWX -.01
[10:48] {strider} staying too long at the party again.
[10:49] {Threei}  be reasonable
[10:49] {Threei}  summer Friday
[10:49] {Threei}  moves are rarely sustainable
[10:50] {strider} lvs interesting
[10:52] {Threei}  looks like short to me
[10:52] {dino} c[ts l .60
[10:52] {dino} cpts
[10:53] {nemo} what is your stop dino
[10:54] {dino} .48
[10:55] {nemo} ty
[10:55] {dino} mkt not helping
[10:56] {nemo} It's summer lunch time on a Friday....ahhh bottle of Grey Goose here I come...
[10:56] {ese} ahhhhhhhhh
[10:56] {dino} too early\
[10:57] {ese} not if your a vad trainee
[10:57] {magoo} sigh, now lunch is 10:50 am?
[10:58] {nemo} faz .25 break?
[10:58] {nemo} beh broke
[10:58] {Threei}  not delighted by FAZ
[10:59] {dino} tight day
[11:00] {Threei} Short Setup: LVS  23 break
[11:00] {Threei}  if stays under 23.10
[11:00] {Threei}  for superduperextrascalpers, .05
[11:01] {magoo} in out
[11:01] {magoo} ty
[11:01] {magoo} +.01
[11:01] {Threei}  that redefines superduperextrascalper definition
[11:01] {strider} good risk control, mags
[11:02] {nemo} crissakes he lost on fees
[11:04] {dino} dino's going to throw shoe at magoo
[11:05] {magoo} BP BP
[11:05] {dino} rumor rd looking at bp
[11:05] {Threei}  BP Fox's Gasparino: A possible sale of the company is 'back on the table', according to sources
[11:05] {Threei}  - no sale of the company can be assured (33.18, -0.56, -1.66%)
[11:05] {ese} that was too funny mags
[11:06] {ese} thats what i felt like yesterday though
[11:10] {dino} clf s .50
[11:11] {magoo} todays even harder than yesterday
[11:12] {ese} agreed
[11:12] {strider} short HAL .99
[11:14] {dino} agree
[11:14] {Threei}  .99?
[11:15] {Threei}  LVS 1:1
[11:15] {Threei}  not here... 3 out of 4
[11:15] {strider} out  GS +2.37 swing trade
[11:17] {strider} cover 1/2 HAL +.10
[11:17] {strider} sorry, LVS
[11:18] {strider} {-------dazed and confused
[11:18] {ese} out qgen in full .29 +.07
[11:18] {ese} had enough of watching paint dry
[11:21] {strider} stop bal .LVS
[11:21] {strider} b/e
[11:25] {Threei} Long Setup:  FAS  .40 break
[11:25] {Threei}  attempt at inversed H&S
[11:26] {nemo} think it'll trigger by the close?
[11:26] {Threei}  I rarely think
[11:26] {Threei}  and every time I try it hurts
[11:27] {nemo} oh yeah, sorry
[11:27] {Threei}  invalidated anyway
[11:27] {Threei}  I seriously doubt sanoty of whever came up with this:
[11:27] {Threei}  (KS) North Korea Envoy: North Korea to continue with six-party nuclear talks
[11:27] {Threei}  - Note that earlier in the session, the UN Security Council issued a statement condemning sinking of South Korean warship. The statement did not explicitly blame North Korea for the sinking.
[11:28] {Threei}  condemning sinking but not blaming whoever did that?
[11:28] {nemo} db fas?
[11:29] {Threei}  then .35 break long
[11:29] {Threei}  stop under .30
[11:29] {Threei}  will be both, double bottom play and aggressive entry for .40 break
[11:29] {Threei}  risk is minimal
[11:29] {nemo} in
[11:29] {magoo} innnnnnnnnnn
[11:30] {Threei}  actually... it may be the top of political correctness... think of it:
[11:30] {nemo} volume coming in
[11:30] {Threei}  if we can condemn sinking itself but not assign blame for it
[11:30] {nemo} 1/2 out
[11:30] {Threei}  we can condemn any crime
[11:30] {Threei}  any sociaetal ill
[11:30] {Threei}  and that's all
[11:31] {Threei}  whoever perpetrator is, it's irrelevant
[11:31] {Threei}  half out for me here
[11:31] {Threei}  .42
[11:33] {dino} cov clf -.12 .62
[11:33] {dino} no backbone 3i
[11:35] {nemo} can't believe fas trading this slow
[11:35] {dino} fing clf\
[11:39] {magoo} any read BIDU vad?
[11:39] {Threei}  not really
[11:39] {magoo} your not trying :)
[11:39] {nemo} 1/4 more .45 fas
[11:41] {nemo} stop to b/e for me
[11:41] {Threei}  look how uncharestically slow it is, mags
[11:42] {magoo} i know(hence smiley)
[11:42] {Threei}  I am trying for .48 nemo
[11:42] {Threei}  uncharestically? sheesh
[11:43] {Threei}  and I just thought my typing hit rock bottom
[11:43] {nemo} cool vad, I just figure summer lunch on friday, kinda' scalp mode
[11:43] {Threei}  but obviously there is always room for more perfection
[11:43] {strider} typing is like shorting, vad.  There is no limit.
[11:43] {Threei}  out 1/4 more
[11:44] {Threei}  lol strider
[11:44] {magoo} tryting for fitty tree
[11:44] {Threei}  offering last piece .55
[11:44] {nemo} out my last at .50
[11:44] {nemo} bon chance
[11:46] {dino} itri hl l .96
[11:46] {nemo} thought about RIMM .50 break, but stop too far, think it gets to .90 though
[11:50] {magoo} q  server vad..sticky quortes
[11:50] {Threei}  16
[11:50] {Threei}  oh, and since FAS is in no lose territory - 4 out of 5
[11:51] {magoo} all for pennies tho
06[11:51] * Threei slaps magoo around a bit with a large frozen trout
06[11:52] * Threei slaps magoo around a bit with a large frozen wirth very sharp edges
[11:53] {ese} ouuuuuuuuu the frozen trout........ouuuu   ouuuuu ouuuuuuu
[11:53] {nemo} here comes .90 on rimm
[11:55] {dino} cpts to .71
[11:56] {dino} out cpts +.11
[11:57] {magoo} curious, share size?
[11:57] {dino} 1k
[11:57] {magoo} ah..goog'un
[11:58] {magoo} ancient germanic for good one
[11:58] {dino} clf s .74
[12:00] {magoo} magoo prodding fas in anus with hot beranding iron
[12:01] {nemo} damn, watch .70 level of BIDU
[12:03] {magoo} yea, misseds it
[12:03] {nemo} no, it's still a play
[12:03] {magoo} [11:38] {magoo} any read BIDU vad?[11:39] {magoo} your not trying :)
[12:04] {strider} LONG OR SHORT?
[12:04] {strider} long or short. :)
[12:04] {magoo} i liked it long near low
[12:04] {nemo} that's the question I'm looking for volume indications
[12:04] {nemo} I think it goes long on volume break of .70 and likel to tet 71.10 then the 5 minute 200 ma
[12:05] {magoo} all deends on mkt really
[12:06] {nemo} yeah, lunch is here now, but I think it will be aplay today
[12:07] {dino} cov clf .90, -.16 done w.it
[12:09] {magoo} out fitty tree
[12:09] {magoo} TY BOSS
[12:09] {magoo} that was .20
[12:09] {Threei}  that's just pennies, not worth thanking for
06[12:10] * Threei slaps magoo around a bit with a large dose of humility
06[12:10] * magoo slaps Threei around a bit with a large trout
[12:10] {dino} kss l .80
[12:10] {Threei}  how uninventive
[12:11] {Threei}  here comes my .55
[12:11] {Threei}  out
[12:11] {magoo} hardly worth taking there he he
[12:12] {Threei}  OK, next 5 min I am going to think
[12:12] {Threei}  I know it will be painful
[12:12] {Threei}  but I must,
[12:12] {strider} oh god.
[12:12] {magoo} OY
[12:12] {Threei}  gotta find an answer to the question of the day:
[12:12] {Threei}  what to slap magoo with?
[12:13] {strider} oh, thought you were trying to remember where you put your bottle?
[12:13] {magoo} wet t shirt with babe still wearing it??
[12:14] {magoo} ??
[12:14] {Threei}  I solved that problem strider
[12:14] {Threei}  I keep around 5-7 of them, so I stumble onto some without searching
[12:14] {strider} good idea
[12:15] {strider} then when one is empty, you can throw it against wall, alerting wife to bring another one.
[12:16] {_khaln} wife?
[12:16] {strider} Personal assistant.
06[12:17] * Threei slaps magoo around a bit with a large splintery chessboard stuffed with rotten remains of trout
[12:17] {_khaln} host
[12:17] {Threei}  hostess?
[12:17] {strider} cakes and pies?
[12:20] {strider} l itri .86
[12:22] {strider} whoops
[12:22] {dino} hooker type
[12:23] {strider} ??
[12:23] {dino} itri
[12:23] {strider} yeah
[12:23] {nemo} volume at 50% today
[12:23] {strider} there's a guy sitting at a desk with instructions:
[12:24] {strider} when strider buys, drag the price down quickly
[12:24] {dino} i know that guy
[12:25] {strider} we gotta get  him, dino.
[12:25] {strider} Get your people and my people together....take him down.
[12:25] {dino} yes we do, costing me $
06[12:36] * Threei slaps magoo around a bit with a large notification of boredom
[12:37] {strider} short spy .19
[12:45] {strider} stop spy -.12
[12:51] {strider} have you heard from fern lately, vad?
[12:52] {nemo} fcx
[12:54] {Threei}  about two weeks ago
[12:55] {dino} kss to .89
[12:57] {strider} l fcx .62
[12:57] {dino} out kss .90,+.10
[13:01] {strider} stop fcx
[13:03] {dino} ups l .64
[13:04] {dino} strider you still in itri?
[13:04] {strider} yeah
[13:04] {dino} me too
[13:05] {strider} trading just about stopped
[13:05] {dino} yeah
[13:14] {Threei}  US) US Sen Graham (R-SC): Recent Treasury report declining to name China a currency manipulator reinforces the need for Congress to act with legislation on China
[13:17] {Threei}  LOL
[13:17] {Threei}  British Colimbia govt announced that annual deficit is going to be 1B less than expected
[13:18] {Threei}  opposition said it's another example of broken promise
[13:18] {Threei}  meaning, promised bigger deficit and delivered less?
[13:19] {hawk} lol
[13:20] {Threei}  *(US) INTERIOR SEC SALAZAR ANNOUNCES NEW, REVISED DEEPWATER OIL DRILLING MORATORIUM TO BE ANNOUNCED IN NEXT FEW DAYS
[13:21] {dino} give it a rest
[13:21] {dino} you've lost
[13:21] {Threei}  they can't
[13:22] {Threei}  they need to manoevre between diff interest groups
[13:22] {Threei}  saving as much votes as they can
[13:22] {Threei}  because votes is all that matters
[13:25] {ese} hmmmmmmm thought about uaua......too bad
[13:30] {magoo} any read RIMM FCX BIDU vad?
[13:31] {Threei}  not at all
[13:32] {hawk} DNDN trying 32, WHR strong
[13:35] {dino} out ups .74,+.10
[13:42] {Threei}  - Interior Sec Salazar comments that a moratorium is "essential."
[13:42] {Threei}  - Reminder: A US Appeals Court yesterday struck down the Federal Govt's plans for a moratorium on deepwater drilling. After the moratorium was blocked by a District Court on 6/22, the Interior Dept said it would place new ban on deepwater drillers if the ruling was not overturned.
[13:49] {dino} zzzzzzzzzzzzzzzzzzzzzzzzzz
[13:59] {strider} magoo, punch dino.  He's snoring again.
[14:00] {dino} like watching paint dry
[14:01] {ese} zzzzzzgaaazort.......sssssIUYiuewl;k........aheeem.......zzzzzzzzzzzzzzzzzzzzz
[14:02] {dino} ifyoyflvbiutiyrlv.
[14:02] {ese} eggggzakly
[14:03] {ese} i've got money that says vad has passed out or is down at his crabbing dock.....anyone in
[14:06] {Threei}  hmmm
[14:06] {ese} ha ha.......everyones passed out or gone down to their crabbing docks
[14:06] {Threei}  let me check up on him
[14:06] {Threei}  you are right ese
[14:07] {strider} uh-oh.  Bi-polar time again.
[14:07] {Threei}  he went to crabbing dock and there he passed out
[14:08] {ese} you talkin about that twirp ese..........wayda minute.....thats me
[14:08] {magoo} rimm going for high
[14:08] {magoo} any trigg vad?
[14:09] {larisa} 53.10  kinda was?
[14:09] {Threei}  well
[14:09] {Threei}  .25 is high
[14:09] {magoo} put down the butter and take a look lol
[14:09] {Threei}  but I am uneasy about breakouts on Fri afternoon
[14:10] {Threei}  failure rate is, umm
[14:10] {Threei}  indecently high
[14:17] {magoo} i need 200 bux, cant u find me 200 bux ?
[14:17] {larisa} why 200 ?
[14:17] {Threei}  really
[14:18] {larisa} but i agree with magoo, find me 500 :)
[14:22] {strider} HIG hod
[14:23] {dino} ec spike
[14:27] {dino} ioc spike
[14:31] {ese} outta here for the weekend and all of next week.....will be in Whistler golfing....
[14:31] {Threei}  you can't
[14:31] {ese} huh why
[14:31] {Threei}  you must stays and trade
[14:31] {Threei}  stay
[14:32] {ese} your correct i must
[14:32] {Threei}  there
[14:32] {Threei}  I knew you'd realize great error of your ways
[14:32] {ese} yup.....cya in a week
[14:32] {Threei}  sigh
[14:32] {Threei}  have fun :)
[14:32] {Threei}  but remember
[14:32] {ese} take care
[14:33] {Threei}  when magoo starts screaming at me for my week vacation
[14:33] {Threei}  you'll have to defend me
[14:34] {strider} HIG RIMM still climbing
[14:34] {Threei}  some people unhappy with octopus prediction of World Cup winner send death threats to octopus
[14:35] {Threei}  I wanted to add that some poeple are idiots but then realized that ijn this case I'd insult idiots
[14:37] {dino} cya es
[14:38] {Threei}  dino... your dial-up...
[14:39] {magoo} bye ese
[14:39] {Threei}  ese is half way to Whistler, you are just saying good bye
[14:40] {strider} ADM
[14:42] {dino} lol
[14:42] {dino} was doing a lift
[14:43] {magoo} ok vad, now only need $100
[14:43] {magoo} c'mon
[14:43] {dino} rock n roll
[14:43] {nemo} hah, FCX finally does that break above .60
[14:43] {magoo} if u cant get me $100, i quit your room
06[14:43] * Threei slaps magoo around a bit with a large bottle of AntiGreedine
[14:43] {magoo} oh wait........
[14:44] {dino} calx drop
[14:44] {dino} nah
[14:45] {strider} HIG vad?
[14:46] {Threei}  pullback to about .15 - .120, I'd feel much more interested
[14:46] {strider} tks
[14:50] {dino} bidu hl .60 l
[14:55] {dino} out bidu .80, +.20
[14:58] {magoo} $50 bux to go vad...jesus, a little help here (lol)
[15:00] {strider} long HIG .47
[15:00] {Threei}  sigh
[15:01] {Threei}  dino... can I ask you to put your elbow in magoo's ribcage on my behalf? I'll owe you one
[15:01] {dino} sure
[15:01] {Threei}  ty
[15:01] {magoo} ouch,c'mon dino,quit it, OUCH.......
[15:03] {dino} :O
[15:07] {dino} \out itri ave +.15
[15:09] {dino} whr sm s .30
[15:09] {dino} hod bstop
[15:13] {dino} stopped
[15:14] {Threei}  feels like market decided to finish at new highs
[15:14] {Threei}  larisa? what say you?
[15:15] {Threei}  I'll take +70
[15:15] {dino} long way to go
[15:15] {dino} i say negative dji
[15:15] {larisa} lol
[15:15] {Threei}  cool, we have drama
[15:15] {larisa} and I do no tknow :)
[15:15] {Threei}  awww
[15:18] {larisa} I think we will not change much +20/30
[15:19] {nemo} how did Europe close?
[15:19] {dino} stop european in my car
[15:19] {magoo} ok, have good weekend all, ty
[15:19] {nemo} awwwww....that's awful dino
[15:19] {Threei}  oh come on magoo
[15:20] {Threei}  I just thought of a trade for you
[15:20] {nemo} he got his $50
[15:20] {dino} :D
[15:20] {Threei}  ok... never mind
[15:20] {magoo} yup
[15:20] {nemo} slut
[15:20] {magoo} on MY OWN
[15:20] {lasertrev} bye magoo
[15:20] {Threei}  go
[15:21] {Threei}  come Monday, all calls are labaeled: anyopne but magoo
[15:22] {nemo} bidu made a little run
[15:22] {dino} cpts l .69
[15:23] {strider} out HIG +.03...would try the patience of god.
[15:25] {dino} patience is a goddess
[15:25] {nemo} oh my
[15:25] {patience} tell me more
[15:25] {strider} haha!
[15:25] {nemo} hey strider
[15:26] {dino} any gal that trades metals the way you do....
[15:26] {strider} hey nemo
[15:26] {nemo} I think the better metaphor would have been "the patience of Job"
[15:26] {strider} you use your metaphor, I'll use mine.
[15:26] {nemo} which reminds me of a joke:
[15:26] {strider} Else, what's a meta for?
[15:26] {Threei}  uh oh
[15:27] {nemo} what does an insomniac, dyslexic, agnostic do?
[15:27] {larisa} you already told this joke :)
[15:27] {strider} nemo's theory is, they're better with age.
[15:27] {dino} each other
[15:28] {larisa} oh my
[15:28] {nemo} I was afraid of that
[15:29] {nemo} but that was a couple of barrels of vodka ago
[15:29] {dino} whr rinsed
[15:29] {strider} but did it spit?
[15:29] {nemo} Recent sex survey says women like...
[15:29] {nemo} never mind
[15:37] {nemo} Venga me... hasta Lunes
[15:38] {patience} have a good weekend guys.    a modest week for me....finishing it with a Heineken on a friday afternoon   :)
[15:38] {Threei}  nothing's wrong with that
[15:39] {dino} cya nemo
[15:39] {dino} gj patience
[15:39] {dino} runniong light here for week too
[15:40] {dino} typing stinks too
[15:40] {hawk} enjoy the weekend
[15:41] {Threei}  AIG Fitch affirms ratings; revises outlook to Stable from evolving (35.99, +0.48, 1.35%)
[15:42] {dino} cya hawk
[15:42] {Threei}  here comes push for my +70
[15:42] {Threei}  18 min, 18 points left
[15:42] {Threei}  point a minute
[15:43] {larisa} do not forget to distruct yesterday's bet :)
[15:44] {Threei}  now, why would I do that
[15:45] {larisa} yes, you do not need to, we are finishing +30 max
[15:46] {dino} maybe so
[15:53] {lasertrev} ok filks, have a good weekend
[15:54] {Threei}  you too trev
[15:54] {lasertrev} thx:)
[15:54] {strider} see y'all Monday.
[15:54] {Threei}  thank you all
[15:54] {Threei}  have a good evening, see you tomorrow
[15:54] {dino} take care
[15:54] {Threei}  umm
[15:54] {Threei}  correction
[15:54] {Threei}  have a good weekend, see you on Monday
[15:54] {strider} we trading tomorrow?
[15:55] {strider} thought maybe some overtime was coming.
[15:55] {lasertrev} trading crap at a garage sale maybe
[15:56] {dino} out cpts .73, +.04
[15:59] {Threei}  larisa, 10 points left
[15:59] {Threei}  8
[16:00] {dino} later all, thx
[16:01] {Threei}  5
[16:01] {Threei}  oh well
[16:04] {larisa} bye :)

Thursday, July 8, 2010

Jul 08 2010

Today's Catch of the Day illustrates a concept of the follower stock. The idea is simple: leader shows the direction, you take a trade in a follower. In this case, leader was GS, and FAS was following it. Being not as volatile, moving smoother and allowing for better position size, it was an easier trading candidate. After capitulatory selloff GS consolidated for a min under resistance, then broke it, and we took FAS long. Chart is annotated with all this, take a look (click for larger view) 


Other than that, listless day with some wins, some stops, eventually slightly negative.


Session Time: Thu Jul 08 00:00:00 2010
[08:10] {Threei}  (US) Preview: Weekly Initial Jobless Claims due at 08:30 ET (12:30 GMT)
[08:10] {Threei}  **Consensus expectations:
[08:10] {Threei}  - Initial claims expected at 460Ke v prior week's 472K
[08:11] {Threei}  Continuing claims seen at 4.600Me v prior week at 4.616M
[08:11] {nemo} Tell me Les is taking the rest of the week off...
[08:12] {Threei}  15:45] {Les} ok. I am off to Italy. c u's on Monday the 19th
[08:12] {nemo} cool...I had already left
[08:12] {nemo} then again, luck bastid is going to Italy
[08:14] {nemo} jeez...market bolted right after I took off yesterday
[08:16] {nemo} spy gonna' break new high
[08:19] {Threei}  BLTXX Baltic Dry Bulk Index declines approx 4% (30th straight decline)
[08:19] {Threei}  - Index at 1,940 level.
[08:19] {Threei}  ***Note: This is the longest declining streak in 6 years
[08:25] {Threei}  EU) Reminder: ECB press conference to begin after 8:30
[08:29] {strider} jobless claims also at 8:30
[08:30] {nemo} wow...reverse split on tza
[08:30] {Threei}  US) INITIAL JOBLESS CLAIMS: 454K V 460KE
[08:30] {Threei}  CONTINUING CLAIMS: 4.413M V 4.600ME
[08:31] {Threei}  also, noteworthy:
[08:31] {Threei}  - Prior initial claims revised higher from 472K to 475K
[08:31] {Threei}  - Prior continuing claims higher from 4.616M to 4.637M
[08:32] {Threei}  which of course means today's better-looking numbers may in fact be revised higher next time
[08:32] {Threei}  someone explain to me how this kind of data reporting is helpful at all, lol
[08:32] {strider} party-pooper!
[08:33] {Threei}  sorry
06[08:33] * Threei hunkers down with his trusty 6-pack in the corner, away from drunk party-goers
[08:33] {Threei}  ECB Trichet: Interest rates remain appropriate; Economic growth to remain moderate and uneven - Prepared statements
[08:33] {Threei}  - Reiterates Inflation will remain moderate over the "policy relevant horizon
[08:33] {Threei}  - Reiterates that inflation expectations remain firmely anchored
[08:33] {nemo} Strider is taking over Les' role until he gets bck
[08:34] {nemo} back
[08:34] {strider} That's the lowest thing you've ever said to me, nemo.
[08:35] {strider} Now you have a new standard to shoot for.
[08:37] {nemo} :)
[08:38] {nemo} I owed you from yesterday...hehehehe
[08:38] {nemo} crisakes that news is keeping the mrket moving
[08:39] {strider} JCP
[08:39] {strider} don't believe it.
[08:39] {nemo} bidu
[08:40] {nemo} bounced right off the 200 ma
[08:41] {strider} Looks like a happy day.
[08:41] {strider} LVS consolidating
[08:42] {nemo} if things stay positive bidu should close the gap today and get at least to 74.20
[08:43] {nemo} might close it before market opens
[08:43] {strider} do you have split adjusted charts?
[08:43] {strider} daily?
[08:43] {nemo} you mean for tza...no
[08:43] {strider} bidu
[08:44] {nemo} yeah
[08:44] {nemo} not on Laser though
[08:44] {strider} laser?
[08:44] {strider} mine isn't
[08:44] {nemo} freestockcharts.com
[08:44] {strider} yeah.
[08:45] {strider} Does laser never do adjustments?
[08:45] {nemo} don't know
[08:50] {dino} gm all
[08:50] {Threei}  dino :)
[08:50] {strider} dino
[08:50] {strider} :)
[08:52] {dino} :D
[08:52] {Threei}  - ECB welcomes the decision to publish bank stress tests; appropriate action will have to be taken where needed as a result.
[08:53] {Threei}  anyone has even slightest doubt that results will be properly massaged before published?
[08:53] {dino} no
[08:54] {dino} do you doubt that all releases are "modified". i don't
[08:55] {Threei}  well, some aren't probably - not by design but by lack of competency of "modifiers" {G}
[08:55] {Threei}  I mean, we do deal with idiots
[08:55] {Threei}  let me illustrate the point:
[08:55] {Threei}  15:39] {Threei} dose of idiocy waieted almost till the end of the day to be injected, but it's a very large dose:
[08:55] {Threei}  [15:39] {Threei} (US) Fed's Kocherlakota: Financial institutions should be taxed based on the risk they create
[08:55] {Threei}  [15:39] {Threei} - Getting the tax right would cover the true cost of risky activities
[08:55] {Threei}  [15:39] {Threei} - Bailouts of financial markets are inevitable, no legislation could eliminate market crises.
[08:56] {Threei}  tell me, is this guy suitable to judge the taste of scrambled eggs?
[08:56] {Threei}  and if yes, shouldn't it be the highest position he must be given?
[08:57] {dino} lol
[08:57] {Threei}  seriously though... just think of what he said
[08:57] {Threei}  this is plain scary these people are our policymakers
[09:03] {_khaln} gm all
[09:03] {Threei}  morning khaln
[09:04] {bellowsbunch} morning
[09:04] {Threei}  bellows :)
[09:07] {strider} SKH
[09:09] {Threei}  question of the day: rally continuation, pulback or consolidation
[09:10] {strider} probably
[09:10] {Threei}  I agree
[09:10] {strider} I think two of the three.
[09:10] {strider} not sure which two, though.
[09:11] {strider} And two out of three ain't bad.
[09:15] {bellowsbunch} Lebron
[09:17] {dino} do they run them up into expiration like last month
[09:17] {larisa} gm:)
[09:17] {Threei}  larisa :)
[09:18] {Threei}  so far, preopen chart shapes up as preparation for another day of relentless climb
[09:19] {Threei}  things can change on a dime of course, but let's make it a working assumption, and see what we can find
[09:19] {nemo} yeah, looking for break of bull flag on bidu
[09:20] {Threei}  traditional opening pullback on LVS, long entry would be around .20 - .30
[09:21] {bellowsbunch} you'll notify us with setup?
[09:21] {Threei}  don't I always?
[09:21] {nemo} ?
[09:21] {bellowsbunch} yes
[09:22] {bellowsbunch} ty
[09:22] {Threei}  then what makes you think I'd make an exception this time? :)
[09:22] {Threei}  just alerting in advance for now what I am looking for
[09:22] {bellowsbunch} got it
[09:23] {nemo} could lvs be a break too Vad?
[09:24] {Threei}  yes but I won't play it
[09:24] {Threei}  early opening breaks on LVS are fakeouts 9 out of 10
[09:25] {Threei}  I am not about to try and guess which of them will be that 1
[09:25] {lasertrev} morning
[09:25] {Threei}  trev :)
[09:25] {strider} nothing much pulling back from pre-market climb.
[09:26] {strider} GS at morning high.
[09:26] {Threei}  market isn't even open yet
[09:26] {strider} I know.
[09:27] {strider} On up days, GS usu. climbs, then pulls back after 9AM.
[09:27] {nemo} is that true _NotLes
[09:27] {Threei}  nig gap after unexpectedly strong rally day - amateurs chasing in desperation of missed gain, or pros gapping price away?
[09:27] {Threei}  nig = big
[09:27] {nemo} dude!
[09:28] {ese} dude
[09:28] {Threei}  ese :)
[09:28] {ese} vad
[09:28] {dino} nano
[09:28] {strider} _notresponding to this tripe.
[09:29] {nemo} bidu broke
[09:29] {nemo} not a fan of tripe myself
[09:29] {nemo} frickin bidu
[09:30] {Threei}  QTWW Awarded Purchase Order by Fisker Automotive for Supply of Q-Drive(TM) Plug-In Hybrid Powertrain Systems for the Fisker Karma Pr
[09:30] {strider} now GS drops back.
[09:30] {Threei}  IMF: Sees risk of 'double-dip" in US housing market
[09:31] {ese} tripe......i'll have you know i represent that remark
[09:31] {nemo} say bydu
[09:31] {nemo} frickin' musicians
[09:31] {ese} and that one as well
[09:32] {Threei}  LVS, pullback is very shallow so far
[09:32] {Threei}  .50 break maybe the play
[09:32] {Threei}  if SPY reverses
[09:33] {Threei}  not delighted...
[09:33] {nemo} huge offer .50
[09:33] {Threei}  discretionary:
[09:33] {nemo} fake offer
[09:33] {strider} Good.  I hate those compulsory trades.
[09:34] {nemo} drinking already Strider?
[09:34] {strider} Why?  is it morning already?
[09:34] {bellowsbunch} woah
[09:34] {Threei}  if anyone went for it, over 1:1
[09:36] {magoo} morn'
[09:36] {nemo} mags
[09:36] {Threei}  mags :)
[09:37] {jfjf64} motrnin
[09:37] {Threei}  jf :)
[09:37] {nemo} ibuprofen to you jf
[09:37] {magoo} how was yesterday?
[09:37] {ese} L SNDK .78
[09:37] {Threei}  decent
[09:37] {nemo} lvs support .60
[09:38] {Threei}  should lose it
[09:38] {Threei}  looking for double bottom
[09:38] {Threei}  dive undr .50, long entry on recross
[09:38] {jfjf64} ?/
[09:38] {jfjf64} lvs
[09:38] {nemo} yes jf
[09:38] {jfjf64} ty
[09:39] {Threei}  BP
[09:39] {Threei}  sharp drop
[09:39] {Threei}  no entry on LVS
[09:40] {strider} out SNDK +.10, thanks, ese.
[09:40] {Threei}  BP becomes interesting
[09:40] {ese} stopped sndk .67 -.11
[09:40] {strider} ouch
[09:40] {gregns} tks ese in SNDK @ .77 out .88 + .11
[09:40] {Threei}  OK LVS
[09:40] {Threei}  now we are talkling
[09:41] {ese} your welcome....i should hav taken that
[09:41] {Threei}  too fast, no consolidation whatsoever
[09:42] {ese} well, theres why we use stops
[09:42] {nemo} rimm
[09:42] {ese} l sndk .41
[09:43] {ese} man this thing is fast
[09:43] {Threei} Long Setup:  BP  .60 break
[09:43] {Threei}  if stays above .50
[09:43] {ese} out .49
[09:43] {ese} +.08
[09:43] {Threei} Long Setup:  LVS  .40 break
[09:43] {Threei}  if stays above .30
[09:44] {ese} click in.....click out
[09:44] {strider} in bp
[09:44] {nemo} market still selling
[09:45] {ese} nope lvs
[09:45] {Threei}  LVS invalidated
[09:45] {Threei}  next range will be from under .20
[09:45] {strider} stop .48
[09:46] {Threei}  stop under .15
[09:46] {strider} long .21
[09:47] {strider} stop .12
[09:48] {Threei}  was 1:1?
[09:48] {nemo} lvs bounce 200 at .12
[09:48] {dino} nano hl l .75
[09:48] {ese} l sndk .95
[09:49] {ese} out .07
[09:49] {ese} .12
[09:49] {ese} +.12
[09:49] {dino} gj
[09:50] {Threei} Long Setup:  HAL  .10 break
[09:50] {ese} sorry.....am gonna haave to stop typing this one
[09:50] {ese} appologies
[09:50] {ese} just moves too fast almost missed that exit as well
[09:53] {Threei}  market isn't finding firm footing yet
[09:53] {nemo} 2000 at .60
[09:53] {nemo} 200 ma sorry
[09:53] {dino} out nano flat
[09:55] {Threei}  so far, no easy trades
[09:55] {dino} gap fills coming imo
[09:56] {nemo} I think spy bounces between here and the jobs report which was .50
[09:56] {Threei}  DNDN Hearing renewed takeover chatter circulating
[09:56] {Threei}  - AstraZeneca rumored as a potential acquirer
[09:56] {strider} l MRK 35.45
[09:58] {strider} out mrk in full +.10
[09:58] {nemo} nice _notles
[09:58] {Threei} Long Setup:  WFC  .70 break
[10:00] {nemo} oops...jumped the gun
[10:00] {ese} in .69
[10:00] {ese} it hit .70 and triggered me
[10:01] {dino} rost hl l .50
[10:01] {nemo} yeah I'm in .70 spys moving wfc not
[10:01] {strider} long .70
[10:01] {strider} stop .65?
[10:01] {nemo} below low
[10:01] {Threei}  .62
[10:03] {Threei} Long Setup:  GS  .81 break half lot
[10:03] {Threei}  if stays above .65
[10:04] {Threei}  invalidated
[10:04] {nemo} stoppe wfc
[10:04] {Threei}  ok, things plain don't work
[10:04] {ese} stopped  -.07
[10:05] {Threei}  as easy as yesterday was, no obvious trades today
[10:05] {Threei}  stt
[10:06] {Threei}  never mind
[10:06] {ese} that should have worked financials and tech up the most today
[10:06] {Threei}  in the gap
[10:06] {strider} GE holds well, watching for market reversal....sluggo stock.
[10:06] {bellowsbunch} gs getting smoked
[10:06] {dino} same here 3i
[10:07] {Threei}  yeah, and taking finnies with it
[10:07] {nemo} spy at 200 volume coming in
[10:08] {strider} bi-polar market.
[10:08] {ese} L jcp .006
[10:08] {ese} .06
[10:08] {nemo} oh...thanks for reminding me...gotta' take my meds
[10:08] {strider} there are limits to whatt science can do.
[10:08] {nemo} nice...subtle
[10:09] {Threei} Long Setup:  FAS  .80
[10:09] {strider} in .81
[10:09] {Threei}  pretty much GS bounce play, should take FAS with it
[10:10] {strider} .10 stop?
[10:10] {Threei}  over 1:1
[10:10] {strider} half out
[10:10] {ese} out 1/2 .16 +.10 jcp
[10:10] {strider} l GE .96
[10:11] {ese} remaining to break even
[10:12] {strider} stop ge .91
[10:12] {ese} either i'm typing too slow or the stuff i'm picking this morning is just too damn fast
[10:13] {strider} 1/4 FAS out .95
[10:14] {Threei}  FAS 1:2, full out
[10:14] {dino} fcn sm l .25
[10:14] {Threei}  first decent play today, jeez
[10:14] {ese} anf L .50
[10:14] {strider} out FAS .01 in full
[10:15] {Threei}  GS was very much oversold on that swan dive
[10:15] {ese} well .50 and change
[10:15] {Threei}  see volume spike on the long red bar?
[10:15] {Threei}  10:08
[10:15] {Threei}  capitualtion
[10:15] {ese} jcp stop to .15
[10:16] {ese} stopped .15 +.09 remaining 2k
[10:16] {ese} hmmmmmm might have put that stop in there too close
[10:18] {ese} anf still bumping up against .50
[10:19] {Threei}  market looks like done churning,
[10:19] {Threei}  breaking downtrend and starting climb
[10:19] {strider} GE stop to .94
[10:19] {ese} yup....looking up from here
[10:19] {magoo} if so, maybe FCX RIMM
[10:19] {Threei}  FCX yes,
[10:19] {strider} l GS .66
[10:19] {Threei}  RIMM questionable
[10:20] {magoo} 50:50 not bad magoo:)
[10:20] {Threei}  lol
[10:20] {Threei}  FCX, 63 break
[10:20] {strider} out GS .83
[10:20] {Threei}  ANF, ese :)
[10:20] {nemo} in  fcx .01
[10:20] {nemo} stop .80
[10:21] {nemo} half lot
[10:21] {ese} out 1/2 anf
[10:21] {ese} .68 +.18
[10:21] {ese} stop raised to .60 on remainder
[10:21] {strider} out 1/2 GE .01 +.05
[10:22] {ese} stop to .75 on remainder anf
[10:22] {ese} working like a charm this one vad
[10:22] {strider} bal GE to b/e
[10:23] {Threei}  I'd be out here ese
[10:23] {ese} out in full anf .98
[10:23] {ese} tks
[10:23] {Threei}  easy money is made on it
[10:23] {ese} +.48 on 2k
[10:23] {Threei}  gj
[10:23] {dino} wtg
[10:23] {ese} tks
[10:23] {Threei}  whatever happens next is likely to be labored
[10:24] {jfjf64} gj
[10:24] {Threei}  risk rises greatly, may run into very nasty selloff while trying to squeeze a few more cents
[10:24] {dino} fcn stopped -.27
[10:24] {ese} that will be my day because i have to be out of here early for a 10am appointment about a festival for my pro band vad
[10:24] {nemo} 1/2 out .15
[10:24] {strider} MRK looks good, but missed break
[10:24] {Threei}  nemo, stop to .95 on remainder
[10:25] {ese} the Midnights......speaking of which I need to come over and see your pictures
[10:25] {Threei}  I still have them :)
[10:25] {jfjf64} tk  $$$$$$$$   and run    way  to  go
[10:25] {ese} great have to do up a new promo folder to send to Denmark
[10:25] {Threei}  that's ese for ya, jf... he drops by, drinks all the vodka I have in the fridge and runs away
[10:26] {dino} ctrp hl l .22
[10:26] {Threei}  look at ANF
[10:26] {Threei}  labored
[10:26] {Threei}  each tick became a hard work
[10:27] {Threei}  and here comes that nasty selloff
[10:27] {Threei}  timely exit I'd say
[10:27] {Threei}  nemo, FCX is likely to jumo now for your exit
[10:27] {ese} indeed
[10:27] {nemo} you mean jump?
[10:27] {Threei}  stop is still .95, and try for something closer to .30
[10:27] {strider} stop bal GE -.01
[10:28] {Threei}  hopefully it's not rinisng before final move
[10:28] {Threei}  but discipline today is paramount
[10:28] {ese} anf heading back up though
[10:29] {Threei}  ahh, my favorite e-mail:
[10:29] {Threei}  URGENT - HELP ME DISTRIBUTE MY EIGHTEEN MILLION TO HUMANITARIAN
[10:30] {Threei}  EIA NATURAL GAS INVENTORIES: +78 BCF VS. +70 TO +75 BCF ESTIMATE RANGE
[10:30] {Threei}  poor UNG
[10:30] {nemo} rinsed
[10:30] {Threei}  no break for nat gas players
[10:31] {nemo} ahhh stopped
[10:31] {Threei}  they are either getting killed or getting killed
[10:36] {bellowsbunch} bp?
[10:36] {Threei}  kind of in the middle of nowhere...
[10:36] {Threei}  no clear setup either way
[10:39] {strider} short .GS .80
[10:39] {strider} stop .00
[10:41] {jfjf64} lvs  drop
[10:41] {strider} bid .55 GS
[10:42] {strider} out
[10:42] {Threei}  wtg
[10:43] {strider} thks
[10:44] {Threei} Long Setup:  LVS  .80 break
[10:44] {Threei}  invalidated
[10:45] {dino} nano l .55, stop .48
[10:46] {nemo} spy bottomed right where jobs report came in
[10:48] {dino} stopped nano
[10:48] {nemo} feels like everything driven by spy this morning
[10:48] {Threei}  I am not sure it has bottomed nemo
[10:48] {nemo} no, but it bottomed at that point so far
[10:49] {Threei}  Preview: (US) Treasury coupon announcement at 11ET
[10:49] {Threei}  - Analyst still generally see cutbacks in particularly in the 3-year. The 10-year reopening will likely remain unchanged at $21B and the 30-year will most likely be held at $13B as well. The 3-year will probably see a reduction of $1B to $35B. A $69B package would include $56B in new money
[10:49] {magoo} f'n LVS
[10:49] {Threei}  $69B package would include $56B in new money
[10:49] {Threei}  sheesh
[10:50] {strider} CAT looks eager
[10:52] {Threei}  financial crisis, doeble-dip recession, depression, oil spill - who cares? Labron james announces his team tonight
[10:52] {magoo} pldease KNICKS
[10:53] {nemo} oh..the Lebron watch?
[10:53] {bellowsbunch} heat al day
[10:53] {dino} fcn to .25
[10:54] {dino} out fcn +.24
[10:54] {Threei}  Preview: DOE (EIA) Petroleum Inventories due at 11:00ET
[10:54] {Threei}  **consensus expectations:
[10:54] {Threei}  Crude: -2.5Me
[10:54] {Threei}  Gasoline: +500Ke
[10:54] {Threei}  Distillate: +2Me
[10:54] {Threei}  moved from Wed because of short week
[10:56] {strider} long GS .05 stop lod
[10:57] {Threei} Long Setup:  LVS  .75 break
[10:58] {nemo} scalp?
[10:58] {Threei}  invalidated anyway
[10:58] {dino} fdo hl l .50
[10:58] {Threei}  but yes, was just a scalp idea
[10:58] {nemo} db?
[10:58] {Threei}  no, likely to proceed to new low
[10:58] {nemo} recross .70?
[10:58] {Threei}  no
[10:58] {Threei}  market weakens
[10:59] {Threei}  need some digestion here to decide on further direction
[11:00] {magoo} spike RIMM
[11:00] {Threei}  *DOE CRUDE: -4.9M V -2.5ME
[11:00] {strider} stop GS .68  -.37
[11:00] {Threei}  GASOLINE: +1.3M V +500KE; DISTILLATE: +320K V +2ME; UTILIZATION: 89.8% V 88.5%E
[11:01] {strider} damn that DOE
[11:01] {Threei}  RIMM Hearing OTR Global makes positive comments
[11:01] {nemo} shoot the bitch
[11:01] {strider} friggin rinse.
[11:03] {dino} ndx filled
[11:03] {Threei}  direction is being defined for real now
[11:04] {nemo} lvs at pivot if market turns might have a play here
[11:04] {nemo} bid .57
[11:04] {nemo} offer I mean
[11:04] {nemo} huge bis .54
[11:04] {nemo} ids
[11:05] {nemo} bids
[11:05] {nemo} jeez
[11:06] {Threei}  I think we go lower
[11:06] {nemo} spy close gap?
[11:07] {strider} that's really negative
[11:07] {nemo} neither negative nor positive
[11:07] {nemo} statement that may or may not prove true
[11:08] {nemo} think I have to change the dosage on my meds
06[11:08] * strider slaps nemo around a bit with a large textbook of modal logic
[11:08] {Threei}  which may or may not help
[11:09] {nemo} what...he applies a subjective definition of your opinion
[11:11] {nemo} lvs stronger than this little pullback in spy
[11:11] {nemo} so far
[11:12] {Threei} Long Setup:  X  .15 half lot
[11:12] {Threei}  if stays above 40
[11:13] {Threei}  lunch time, so trades are discretionary
[11:15] {strider} lon gX .02, stop .95
[11:17] {strider} oout 1/2 .11
[11:17] {nemo} nice
[11:17] {Threei}  good way to play it
[11:17] {nemo} _notLes
[11:17] {Threei}  aggressive entry
[11:18] {strider} take more stops this way, though.
[11:18] {magoo} GS red bar..on volume
[11:18] {magoo} est cut
[11:18] {nemo} yeah, but had nice support and it was a small stop strider
[11:18] {strider} bal to b/e
[11:18] {dino} ctrp l .70
[11:19] {strider} offer 1/4 .119
[11:19] {strider} .19
[11:19] {Threei}  GS Hearing Meredith Whitney cuts Q2 and 2010 profit estimates on Goldman Sachs (timing uncertain)
[11:19] {Threei}  - Cuts Q2 EPS estimate to $1.70 from $4.75, and cuts 2010 EPS estimate to $15.70 from $20.00.
06[11:19] * Threei slaps strider around a bit with a large roll of cash
[11:20] {strider} thank you kind sir.  May I have some more?
[11:21] {Threei}  SPY will tell
[11:21] {strider} stop bal. to .10
[11:22] {Threei}  let me just make a quick comment on aggressive entries
[11:22] {Threei}  this is exactly the kind that makes most sense to me,
[11:22] {Threei}  on sharp pullback far away from trigger p;oint
[11:22] {Threei}  into support level
[11:23] {Threei}  odds are 50/50, but risk is small
[11:23] {dino} ctrp out .86, _.16
[11:23] {Threei}  and reward rises enormously
[11:23] {Threei}  plus, in case of trade working you have so much room for different way of securing profits
[11:23] {dino} +.16
[11:23] {Threei}  much better way to apply aggresive entry than say buy at .13
[11:24] {Threei}  which may have an advantage of easier entry than on break which is easy to miss,
[11:24] {Threei}  but void of all other advantages
[11:24] {strider} offer bal at. 30
[11:25] {Threei}  X 1:1 for regular entry
[11:25] {strider} .30
[11:25] {dino} ctrp l .00
[11:25] {bellowsbunch} x
[11:25] {strider} out
06[11:25] * Threei slaps strider around a bit with a large roll of cash
[11:25] {nemo} that's what strider just played
[11:25] {nemo} strong resistance there dino
[11:25] {dino} yeah, gut
[11:26] {nemo} my sixpack doesn't like it...but it never pays to bet against you
[11:26] {Threei}  as nice and easy as FAS and X were, I am not too happy with today
[11:27] {Threei}  that morning pack of stops and invalidations was a bit too thick for my taste
[11:27] {Threei}  normally we have a few nice wins under our belt in first 40-60 min,
[11:27] {Threei}  not today
[11:27] {strider} I know it clutters up the room.  But it's very useful to post trades.  thanks for putting up with it, guys.
[11:27] {Threei}  clutter us, clutter
[11:27] {ese} L nvda .35
[11:27] {dino} np, i do it for disipline
[11:28] {strider} that's what I need to do it for, also.   Keeps me honest.  DOn't want to look like a complete putz.
[11:28] {Threei}  oh boy
[11:28] {Threei}  nemo, shut up
[11:28] {nemo} ?
[11:28] {Threei}  I know chin is out there
[11:29] {nemo} ohhhh.....
[11:29] {nemo} he's not les
[11:29] {Threei}  but show some restraint, don't go for obvious "that ship has sailed, stroder"
[11:29] {strider} do what?
[11:29] {nemo} he didn't want me to ripost to your comment
[11:30] {strider} I was trying to speak in my best italian yiddish...so you'd understand, nemo.
[11:30] {Threei}  so I did it myself.. all in good fun though :)
[11:30] {nemo} Vielen dank, manga le gaza
[11:31] {strider} no sprachen ze deutch
[11:31] {strider} I know that  sucks.
[11:31] {jfjf64} 3i   wfc   bounce
[11:31] {nemo} Denn kann ich sehr viel Spass haben
[11:32] {nemo} Didn't read Nietsche in his mother tongue, huh?
[11:32] {strider} NO, you can't date my sister.
[11:32] {Threei}  doesn't look right to me jf
[11:32] {nemo} wasn't planning on dating her...she looks like you
[11:32] {nemo} faz relatively strong too jf
[11:33] {strider} yeah, she's boooootiful.
[11:33] {nemo} bootyful?
[11:33] {nemo} ctrp bounced right off that resistance
[11:33] {magoo} big butt nemo
[11:34] {jfjf64} whats  going  on  here
[11:34] {nemo} ?
[11:34] {strider} MRK plugs on its merry way.
[11:34] {jfjf64} im i in  right  room
[11:34] {nemo} yeah...the asylum
[11:35] {jfjf64} reality  girls  gone  wild
[11:35] {jfjf64} your  host
[11:35] {jfjf64} 3i
[11:35] {nemo} his typing is so bad because he wears a straight jacket and has to type with his elbows
[11:36] {magoo} damm..was watching LVS for bounce at .60
[11:37] {Threei}  (US) La Nina is expected to form by August, may produce more hurricanes - Business Week
[11:37] {Threei}  - The phenomenon can enhance hurricane development in the Atlantic Ocean, as well as bring warmer, drying conditions across the southern U.S. during northern hemisphere winters.
[11:37] {Threei}  - La Ninas enhance hurricanes in the Atlantic by damping down high-altitude winds that can tear the storms apart as they are forming, according to the National Hurricane Center in Miami
[11:37] {dino} fear mongers, said the same thing last year
[11:38] {strider} everything I see has the same chart.
[11:39] {nemo} really?
[11:39] {nemo} look at clf then rimm
06[11:39] * strider slaps nemo around a bit with a large bag of hyperebole.
[11:39] {strider} hyperbole.
06[11:39] * nemo slaps strider around a bit with a large volume of Threeish
[11:39] {Threei} Short Setup: WFC  .40 break
[11:39] {jfjf64} ???  nemo
[11:40] {nemo} yes JF?
[11:40] {jfjf64} clf    rimm
[11:41] {nemo} JF  [11:38] {strider} everything I see has the same chart.
[11:41] {jfjf64} stop  .50  vad
[11:41] {Threei}  sure
[11:43] {jfjf64} lets  go
[11:44] {Threei}  if very anal-retentive, can keep stop above .45,
[11:44] {Threei}  higher chance of rinse but, lunch time..
[11:44] {Threei}  hard to tell, eerything is discretionary
[11:45] {Threei}  1:1 for those a/r scalpers
[11:46] {ese} out nvda.29 -.06      thought it would do more
[11:47] {Threei}  sorry ladies, it's all nemo/strider/magoo fault
[11:47] {nemo} HOLD IT!
[11:47] {_khaln} men
[11:47] {Threei}  lol
[11:47] {nemo} Magoo has been incredibly well behaved for a very long time
[11:48] {Threei}  yes but today he finally broke down
[11:48] {Threei}  and returned to his roots
[11:48] {nemo} one little inocuous comment
[11:48] {dino} out fdo .74, +.24
[11:48] {Threei}  under your bad influence no doubt
[11:48] {nemo} good/bad...eye of the beholder
[11:49] {Threei}  normally yes, but when it comes to you... {G}
[11:49] {nemo} my picture is in the dictionary
[11:49] {jfjf64} you still in wfc
[11:49] {Threei}  half
[11:49] {jfjf64} me to
[11:50] {strider} out for pennies.
[11:50] {Threei}  yeah, these lunch time moves are not to be trusted for continuation
[11:51] {strider} GE at lod
[11:51] {strider} dbl bottom
[11:51] {jfjf64} im reading   jesse livermore    how to  trade  stocks   good  read
[11:52] {Threei}  as much as I love reminiscences, this one didn't impress me much
[11:52] {jfjf64} just startedc   keep ya  posted  my thoughts
[11:53] {Threei}  please do
[11:53] {strider} MRK sh .71 hl, stop hod
[11:53] {Threei}  maybe I need to give it another try some time
[11:53] {jfjf64} maybe
[11:54] {jfjf64} enough  BSsomeone  knock  wfc  down   i wanna  go eat  my   p/b  sandwich
06[11:55] * Threei hits WFC over the head with 2x4
[11:55] {jfjf64} k
[11:56] {nemo} think wfc going long on ya'
[11:57] {jfjf64} of  cause  ya  do  nemo
[11:57] {jfjf64} lol
[11:58] {strider} l GE .66
[11:58] {strider} stop .60
[11:59] {jfjf64} out  wfc
[11:59] {nemo} :)
[12:02] {strider} jeez...I thought it was an hour later.
[12:03] {strider} you guys kept talking bout lunch.
[12:03] {nemo} I waited until noon to start drinking
[12:03] {magoo} me too
[12:03] {nemo} that's because Vad said it was lunchtime at 11
[12:03] {strider} so he starts drinking then, huh.
[12:03] {larisa} 8 am his time?
[12:03] {magoo} and he is west coast lol
[12:03] {strider} yep.
[12:04] {nemo} well, that's if he stopped in the first place...there are those medicinal shots when he rolls out of bed
[12:04] {strider} pulls the IV to the trading desk.
[12:06] {Threei}  IV!
[12:06] {Threei}  sheesh, how did I not think of that
[12:06] {Threei}  ty
[12:07] {Threei}  DNDN Hearing recent weakness attributed to circulated FT article highlighting possibility of hospitals reevaluating some orders
[12:12] {Threei}  NANO Hearing defended at Piper Jaffray (timing uncertain) (8.80, -2.06, -18.97%)
[12:19] {strider} CBOE
[12:20] {magoo} can someone check if nano shortable laser?
[12:20] {Threei}  yes
[12:20] {Threei}  it is
[12:20] {magoo} ty
[12:21] {Threei}  CBOE Illinois court reportedly rules in CBOE's favor in options case, giving CBOE exclusive right to list options on stock benchmarks
[12:21] {ese} am outta here....have a meeting to go to...catch you tomorow
[12:21] {Threei}  take care ese
[12:21] {magoo} bye ese
[12:21] {strider} ese:)
[12:21] {ese} magssssss!!!!!!! babe your back........and i have to leave   rats
[12:21] {ese} xya vad
[12:21] {magoo} been here all morn
[12:21] {ese} cya
[12:22] {ese} haven't been paying attention......
[12:22] {Threei}  oh btw ese
[12:22] {Threei}  oops, too late
[12:24] {Threei}  GS...
[12:24] {Threei}  .50 break starts looking tempting
[12:26] {strider} why .50?
[12:28] {Threei}  .40 - .50 zone resistance, round number is more indicative and attracts more buyers when broken
[12:28] {Threei}  .49 strong offers
[12:29] {strider} bidding .25
[12:29] {strider} not likely.
[12:31] {Threei}  Preview: (US) Treasury's $12B 10-year TIPS auction results due just after 1ET
[12:31] {Threei}  - $12B is a $2B increase over the January auction
[12:31] {Threei}  - bid-to-cover ratio was 2.65 at July auction with an average of 2.76 over the last 5 new issues
[12:31] {Threei}  - indirect bidders took 47.3% of comeptitive bids at the January auction
[12:31] {Threei}  TSLA...
[12:31] {Threei}  Tesla Motors Hires former Apple executive to help "revolutionize" car buying experience
[12:31] {Threei}  - Hires former Apple and Gap executive George Blankenship as Vice President of Design and Store Development. Blankenship will build Tesla's retail strategy and network.
[12:31] {Threei}  - Blankenship, 57, brings thirty years of international retail and real estate experience to Tesla. Best known as the architect of Apple's brand building retail strategy that raised the bar for customer experience in retail stores, Blankenship joins Tesla most recently from Microsoft.
[12:32] {strider} pulling bid
[12:35] {Threei}  it' invalidated as breakout, but as a bounce play - still is a candidate
[12:36] {strider} bid .18
[12:37] {strider} cancel
[12:38] {nemo} gs riding 200 ma on 5 minute chart
[12:39] {strider} bid .95
[12:40] {strider} in
[12:40] {strider} sstop below .80
[12:42] {strider} stop .75
[12:42] {Threei}  not sure about that entry at all strider
[12:42] {Threei}  no setup
[12:42] {strider} trying to play a combination of bounce off support and watching spy.
[12:43] {strider} you're right, though.
[12:43] {strider} I watch GS a lot, and sometimes think I can read it .
[12:43] {strider} Sometimes I can't:)
[12:44] {Threei}  and sometimes it rains
[12:44] {Threei}  it's just that over many years I came to think that one of the most harmful trading habits is arbitrary buying lows or shorting highs
[12:45] {strider} The goal is for it not to be arbitrary.
[12:45] {strider} To have a system.
[12:45] {Threei}  drop, pause, bounce, retest of the low, bounce and break of the resistance - fine
[12:45] {Threei}  it's a system
[12:45] {strider} Obviously, dino has a workable system.
[12:45] {strider} But I got no idea what it is. :)
[12:46] {magoo} me either:)
[12:46] {Threei}  simply buying low as it forms - rather guessing
[12:46] {Threei}  dino does it very differently
[12:47] {nemo} Dino does the chicken sacrifice thingy
[12:47] {strider} that bastard.
[12:47] {dino} lol
[12:47] {Threei}  chicken entrails, bone from bat's left ear...
[12:48] {Threei}  buried on intersection on full moon midnight
[12:48] {strider} so dino has gone down to the crossroads.   Now, I understand.
[12:49] {strider} Sold his soul to the devil.
[12:49] {nemo} he an Robert Johson, Eric, Stills, etc...
[12:49] {Threei}  well, he had to - just imahgine all the work involved into breaking the concrete on all those intersections
[12:50] {nemo} Vad...you missed the metaphor
[12:50] {strider} ah nemo.   You know the referene.
[12:50] {strider} reference.
[12:50] {dino} small price to pay
[12:50] {strider} good on ya.
[12:50] {nemo} ty
[12:50] {strider} That's what I think.   And you probably can play the guitar real good too:)
[12:50] {Threei}  I didn't
[12:50] {nemo} just picked it up again after more than 20 years
[12:51] {strider} Actually, I meant dino....from the crossroads reference.
[12:51] {dino} devil went down to georgia
[12:51] {nemo} I understand
[12:51] {strider} re:  Oh brother, where art thou.
[12:52] {strider} yeah
[12:52] {nemo} who was the guy that played the devil/guitarist in that Karate Kid star version of the Crossroads fable
[12:53] {nemo} ?
[12:53] {nemo} I actually hunted with the guy, can't remember his name
[12:54] {strider} dunno.  didn't see that movie.
[12:54] {nemo} it was pretty good actually
[12:54] {dino} ctrp to .15
[12:54] {nemo} ahh...Ralph Macchio
[12:55] {strider} long GS 133.81 c&h formation
[12:55] {strider} rising spy
[12:55] {nemo} http://www.imdb.com/title/tt0090888/
[12:55] {strider} sstop below .60
[12:55] {nemo} Steve Vai was the guitarist
[12:57] {dino} out ctrp .19, +.19
[12:59] {Threei}  a bit early but: if we end around here, this is a brfeather day, and rally is likely to resume
[12:59] {nemo} breather?
[13:01] {Threei}  ?
[13:02] {Threei}  *(US) TREASURY'S $12B 10-YEAR TIPS DRAW 1.295%; BID-TO-COVER RATIO: 2.88 V 2.65 PRIOR AND 2.76 AVG OVER THE LAST 5 NEW ISSUES
[13:02] {nemo} "brfeather"
[13:02] {Threei}  - Indirect bidders take 51.89% of competitive bids with 43.46% alotted at the high
[13:02] {Threei}  - Median 1.25%, low 1.163%
[13:04] {strider} stopping MRK short -.08
[13:04] {strider} offer GS .17
[13:05] {strider} out +.36
[13:05] {Threei}  there
[13:05] {Threei}  this is kind of bottom hunting I like
[13:06] {Threei}  bottom out, form certain setup - I am all for it
[13:06] {strider} {-------places gold star proudly on forehead.
06[13:06] * Threei hands strider a hammer and nail
06[13:06] * nemo says, "nice shiny target"
[13:07] {strider} well, if your only tool is a hammer.....
[13:07] {Threei}  well, simplest way to make sure that star stays there...
[13:07] {strider} I'm actually in the blac for the first time today.
[13:07] {magoo} any read FCX BP NANO vad?
[13:08] {Threei}  FCX, pullback to about .60 would get me interested in long
[13:08] {magoo} how about a break of 63?
[13:09] {Threei}  BP, .25 or so, but way too narrow, not counting on much
[13:09] {Threei}  63 is too far from here
[13:09] {nemo} mags vwap is about 63.10 that will likely prove resistance
[13:09] {Threei}  no way I'd buy it if it spikes into that resistance
[13:09] {strider} Taking a ride.......holding GE long at .66, stop at .60   back soon.
[13:09] {Threei}  NANO, no read whatsoever
[13:10] {magoo} nemo, its a wild animal tho..could really go to 63.40 area
[13:10] {magoo} but mkt needs to go too
[13:10] {nemo} I agree, just hasn't been today...very tame
[13:10] {dino} itri sm l .00
[13:10] {nemo} oh great...back to Rorschach tests
[13:11] {magoo} look at itri volume
[13:11] {nemo} better go get him some more chickens
[13:11] {magoo} hes in the office frig defrosting as i type
[13:11] {nemo} hehehe
[13:12] {dino} stri
[13:12] {magoo} STRI
[13:13] {magoo} oops sorry
[13:14] {dino} sm s .74
[13:19] {magoo} lets see nemo
[13:19] {nemo} yeah, it's following spy
[13:20] {nemo} clf might play also
[13:22] {nemo} interesting volume spike there mags
[13:22] {magoo} another leg comith
[13:22] {magoo} to .40 area imo
[13:22] {nemo} logical if it goes
[13:24] {magoo} f'n BP
[13:24] {nemo} right at yesterday's close
[13:25] {magoo} ive lost more in my acct on that pos then BP spent on clean-up
[13:25] {dino} bp=beyong problems
[13:25] {dino} g=d
[13:25] {nemo} what's the "=" equal?
[13:25] {magoo} really? g=d...who'd guess
[13:25] {nemo} maybe bounce at ....here
[13:28] {magoo} your .10 resist call was great FCX nemo
[13:28] {nemo} my first broken clock moment of the day :)
[13:29] {nemo} spy about to hit 50 and 200 ma confluence
[13:30] {dino} he was hot on fcn yesterday
[13:31] {nemo} that was my broken clock moment yesterday
[13:31] {nemo} nailed bidu too
[13:31] {nemo} sucked
[13:31] {nemo} had to get out of bidu early because of a lunch appointment
[13:34] {Threei}  IA) US President Obama: Indications are that Iran is continuing to pursue nuclear weapons
[13:34] {Threei}  okay... and?
[13:34] {dino} shocking
[13:38] {dino} cov stri .94, +.80
[13:38] {nemo} nice
[13:39] {dino} ty
[13:39] {nemo} bow to Zod
[13:48] {strider} .
[13:48] {dino} !
[13:49] {strider} Don't get excited, dino.  just me.
[13:49] {dino} bummer
[13:49] {strider} that's what everybody says.
[13:49] {dino} lol
[13:49] {Threei}  lol
[13:58] {nemo} .20 been strong support for spy
[14:01] {nemo} that .20 level is a pivot level also
[14:01] {patience} .
[14:02] {strider} You have a succinct way of putting things, patience.
[14:03] {magoo} vad, any bounce play LVS FCX
[14:05] {dino} feels like they can't take them down, so up we go
[14:09] {dino} spoke too soon
[14:10] {nemo} yeah, but strong support at .20 breaks that could get interesting especiall if it breaks 106
[14:10] {nemo} hah!..."The Rath of Khaln"  I'm bored
[14:11] {Threei}  FCX, probably,
[14:11] {Threei}  LVS, less likely
[14:11] {magoo} wheres FCX entry?
[14:11] {dino} in space it is very cold
[14:12] {Threei}  .75 break seems to be it
[14:12] {nemo} break of .75
[14:12] {nemo} oy
[14:12] {nemo} testing spy support
[14:13] {nemo} wow dino
[14:13] {nemo} o.k. getting interesting
[14:14] {strider} stopped earlier GE, -.06
[14:16] {nemo} if spy losesthe low might go to .60 area
[14:16] {dino} out itri -.24
[14:17] {strider} dow is still green
[14:18] {nemo} wait a minute :)
[14:18] {strider} yeah
[14:18] {strider} we can fix that.
[14:21] {nemo} oopie doopie we have fun
[14:21] {strider} BP ignoring the blood
[14:22] {dino} hl l rost .15
[14:22] {Threei}  if market continues selling, LVS .30 break is short trigger
[14:24] {dino} itri rinsed
[14:25] {nemo} in fcx .26
[14:26] {nemo} out .32
[14:26] {nemo} scared
[14:28] {Threei} Short Setup: LVS  .40 break
[14:29] {nemo} mags support fcx .22
[14:29] {nemo} I wussed
[14:30] {dino} rost to .35
[14:31] {dino} to .38
[14:31] {nemo} see if old support beomes resistance on spy
[14:32] {Threei}  very listless day for me
[14:32] {dino} here too, missed a bunch earlier, up slightly
[14:33] {dino} am hurting me last 4 days
[14:33] {magoo} yea, been slightly neg all day
[14:33] {dino} pm better
[14:33] {dino} to .41 rost
[14:34] {dino} out slip,.39, +.24
[14:34] {nemo} dino as an outlier, seems scalping rules the day
[14:34] {dino} yeah
[14:34] {dino} size up cut em quick
[14:36] {nemo} lets blame it on HFT and algos
[14:37] {strider} algo invented HFTs
[14:37] {nemo} works for me
[14:37] {Threei}  why so complicated? Les is not here
[14:37] {nemo} It's hard to say anything nice about him
[14:38] {nemo} Then again, I have problems saying nice things in general
[14:39] {Threei} Short Setup: FCX  .30 break
[14:39] {Threei}  stop above .40 of course
[14:40] {Threei}  and if works, not a sca;lp, should be good for more
[14:40] {nemo} oy, I would think this is a two way
[14:41] {Threei}  not sure I got what you mean
[14:41] {nemo} brak of .35
[14:42] {nemo} break
[14:42] {Threei}  if it's two ways, .30 triggered first nonetheless, roight?
[14:42] {nemo} yeah,
[14:42] {nemo} bu
[14:42] {Threei}  market spike out of nowhere
[14:42] {Threei}  shrug
[14:42] {magoo} mkts feels up (kinda lol)
[14:43] {strider} stop fcx -.12
[14:43] {nemo} definite maybe mags
[14:44] {magoo} i am really really sure , i think
[14:44] {Threei}  I am absolutrely sure I am clueless today
[14:44] {magoo} TSLA rips
[14:45] {Threei}  US) Preview: May Consumer Credit due out at 15:00ET
[14:45] {Threei}  **Consensus expectation: -$2.3Be v +$1.0B prior
[14:49] {strider} spy hitting head on 200ma
[14:50] {strider} long bp .37
[14:52] {magoo} any play TSLA vad?
[14:52] {nemo} short
[14:53] {Threei}  16.50 break a while ago is the only darn thing I an see as a valid play today
[14:53] {Threei}  the rest is total ECG
[14:53] {Threei}  messy chart
[14:53] {nemo} see...short
[14:54] {nemo} but like everything else today...a frikin' scalp
[14:54] {Threei}  5 cents?
[14:54] {nemo} I called it at 17.10
[14:54] {nemo} would have been .10, but the stop would have been undisciplined
[14:55] {nemo} but it is continuing to fall a bit
[14:56] {nemo} woulda' got .20
[14:57] {nemo} .30
[14:58] {nemo} so 1:2 would have been reasonable
[14:58] {nemo} probably bounce around .70
[14:58] {strider} out 1/2 BP .44
[14:59] {Threei}  KS) UN Security Council has reportedly decided to make a formal declaration on the ship sinking
[14:59] {Threei}  {North Korea} uh oh... scary...
[15:00] {Threei}  US) MAY CONSUMER CREDIT: -$9.1B V -$2.3BE
[15:00] {nemo} whoa
[15:00] {Threei}  prior revised lower from +1.0B to -$14.9B
[15:00] {Threei}  ????
[15:00] {Threei}  that's some revision
[15:00] {nemo} WOW!!!
[15:00] {nemo} go short!
[15:00] {dino} see the #'s are always fudged
[15:01] {Threei}  I can't believe it
[15:01] {nemo} fudged!
[15:01] {nemo} It's unadulterated prevarication
[15:01] {Threei}  you can fudge 1.3 to 1.5
[15:01] {Threei}  or 1.1
[15:01] {Threei}  but -15 to + 1??
[15:01] {Threei}  Total consumer credit annual rate -4.5%
[15:01] {Threei}  - Revolving credit -$7.4 v -$8.5B (20th straight decline; longest decline on record
[15:04] {Threei}  lol, market loses sensitivity to all this stuff
[15:05] {Threei}  if they announce that GDP has shrunk by 50% in the last 15 min, market will probably respond by two downticks
[15:05] {dino} hmmm, bad news doesn't matter perhaps
[15:05] {strider} stopped last half BP -.01
[15:11] {Threei}  OK, time to decide
[15:11] {Threei}  larisa, dino
[15:11] {Threei}  red? green?
[15:11] {Threei}  magenta? cyan?
[15:12] {larisa} +70
[15:13] {Threei}  me, barely green, maybe +5 or 10
[15:13] {larisa} yesterday i wanted to say 10k+ but was afraid to look like an optimistic idiot :)
[15:13] {Threei}  women can't be idiots
[15:13] {Threei}  sorry but we men monopolize that honor
[15:14] {larisa} believe me, we can
[15:14] {Threei}  you girls can be, umm, charmingly silly
06[15:14] * strider slaps Threei around a bit with a large cardboard cutout of Madonna
[15:15] {Threei}  charming
[15:16] {dino} i think +100 dji
[15:17] {Threei}  considering that my today's record is beyond pitiful, you both are probably right
[15:17] {_khaln} ok
[15:17] {strider} So, decreed any stately pleasure domes lately, _khaln?
[15:18] {strider} (nobody will get that)
[15:18] {Threei}  I certainly don't
[15:18] {Threei}  ooh
[15:18] {Threei}  Xanadu
[15:18] {strider} In Xanadu did Kubla Kahn, a stately pleasure dome decree,
[15:18] {Threei}  yeah, got it now
[15:19] {strider} lwhere Aplh, the sacred river ran, in caverns measureless to man,
[15:19] {dino} showing your age
[15:19] {strider} down to a sunless sea.
[15:19] {Threei}  Coleridge
[15:19] {strider} Yea, I was born 3 years before Coleridge.
[15:19] {nemo} love those pleasure domes
[15:19] {magoo} TSLA high
[15:20] {strider} especcially the stately ones.
[15:20] {magoo} could GOOOOO
[15:20] {nemo} I can see les with an albatross around his neck
[15:20] {strider} 5'10" or better.
[15:21] {dino} whr sm l .52
[15:24] {Threei}  VVUS FDA reportedly reschedules Qnexa review for 1 day earlier than planned
[15:24] {Threei}  - Staff review now to come on July 12
[15:30] {Threei}  guess who is on TV
[15:32] {dino} out whr .97, +.45
[15:34] {Threei}  OK, we need to drop 80 points in a hurry for my prediction to earn me a beer
[15:34] {Threei}  I can see my beerless nearest future...
[15:35] {Threei}  wow
[15:35] {Threei}  anyone hearing speech?
[15:35] {Threei}  totaly taken out of 2 years old campaign
[15:35] {dino} what speech
[15:36] {Threei}  derivatives are not good for you, all those free market folks tell you you are on your own if you don't have insurance or can't afford college
[15:36] {Threei}  no one bothers to write new talking points?
[15:37] {Threei}  polls don't matter, I know what is good for America
[15:37] {Threei}  okay...
[15:37] {Threei}  mute
[15:37] {dino} lol
[15:37] {Threei}  I quoted dino, believe it or not
[15:37] {Threei}  what hubris
[15:37] {dino} 100
[15:37] {strider} Even polled Americans sometimes grow horns.
[15:39] {nemo} see you guy tomorrow
[15:39] {dino} cya nemo
[15:39] {strider} take care, nemo.
[15:40] {strider} wow GS
[15:43] {dino} sm s whr .09
[15:44] {dino} cov .19 -.10
[15:45] {Threei}  hard to qualify today
[15:45] {Threei}  for a breather, a bit too high ending,
[15:46] {Threei}  for a rally continuation, a bit too low volume
[15:46] {Threei}  not sure how it translates into tomorrow
[15:46] {dino} pain
[15:46] {Threei}  lol
[15:57] {Threei}  OK guys, I'll pretend I haven't even waken up today
[15:57] {Threei}  and start life anew tomorrow
[15:57] {Threei}  deal?
[15:58] {Threei}  anyone asks, that was not_vad today
[15:58] {_khaln} deal
[15:58] {Threei}  :)
[15:58] {strider} ha
[15:58] {Threei}  thank you all,
[15:58] {Threei}  have a good evening, see uou tomorrow
[15:58] {strider} thanks, vad.
[15:58] {_khaln} thx vad
[15:58] {Threei}  btw
[15:59] {Threei}  don't forget to look at today's charts in the log
[15:59] {Threei}  will be a cute one
[16:03] {dino} thx all, good time

Wednesday, July 7, 2010

Jul 07 2010

Today's Catch of the day is a twin of yesterday's. Same stock, same setup, same underlying idea. Refresh yesterday's one in memory, then look at today's. I show it mostly to illustrate the point of trading being repetitive process of utilizing familiar and recognizable setups, applying standard procedure so to speak.


Session Time: Wed Jul 07 00:00:00 2010

[08:34] {Threei}  XNPT halted,
[08:34] {Threei}  study results look catastrophic on a first read
[08:34] {Threei}  I mean, as if this was not enough:
[08:34] {Threei}  The primary efficacy endpoint was the change from baseline in the number of migraine headache days during the last four weeks of treatment prior to taper. GSK1838262 did not demonstrate a statistically significant improvement over placebo on the primary endpoint
[08:34] {Threei}  we also got this:
[08:35] {Threei}  Eight patients who received GSK1838262 and two who received placebo experienced serious adverse events during the trial. Of these events, two were deaths in patients receiving GSK1838262
[08:35] {Threei}  I'd call it rather significanrt adverse effect...
[08:36] {hawk} lol, pretty much the most significant adverse effect
[08:36] {Threei}  although they add:
[08:36] {Threei}  One was due to bronchopneumonia and was assessed by the investigator as not related to the study drug. The second death resulted from an accidental overdose involving medications other than GSK1838262, but the relationship of this event to the study drug could not be established.
[08:36] {Threei}  but still
[08:37] {Threei}  BP sudden selling
[08:39] {Threei}  but hawk... let's not exaggerate:
[08:39] {Threei}  The most common adverse event was dizziness, which was generally mild or moderate and did not lead to discontinuation in the majority of patients
[08:39] {Threei}  :)
[08:41] {hawk} Hmm, i'm usually dizzy anyways, so doesn't sound so bad
[08:42] {Threei}  that's what I mean
[08:44] {Threei}  if simple watching TV when they comment on politics of finance cause me dizzines, how bad that drug can be really
[08:54] {hawk} I'd imagine if you were holding XNPT right now you'd be a little dizzy
[08:55] {nemo} Vacation day for us...No Les
[09:00] {Threei}  opens
[09:03] {dino} gm all, short day for me. tee time 11:30
[09:03] {dino} xnpt blood
[09:05] {dino} ok, i see you've seen it
[09:05] {hawk} heat golfing
[09:05] {Threei}  dino :)
[09:05] {dino} yeah hawk, expected to hit 100 again
[09:05] {dino} but when the bank's paying, i go
[09:06] {dino} ctrp down again
[09:06] {hawk} :) definitely.  hot here too, but not 100's
[09:07] {dino} i will have to drink light beer due to the heat
[09:07] {hawk} lol
[09:07] {Threei}  wow... first you guys had bone-chilling winter, not bone-melting summer
[09:07] {Threei}  you must have very strong bones to live there
[09:08] {Threei}  or a lot of beer
[09:08] {dino} both
[09:08] {Threei}  not = now
[09:08] {Threei}  I like my island more and more
[09:09] {Threei}  we are around 80 for the next 3-5 days
[09:09] {dino} fcn
[09:10] {dino} fdo
[09:11] {larisa} gm :)
[09:11] {Threei}  larisa :)
[09:11] {nemo} lari :)
[09:12] {larisa} vad, nemo :)
[09:13] {dino} :D
[09:18] {lasertrev} morning
[09:19] {Threei}  trev :)
06[09:19] * nemo slaps lasertrev around a bit with a large Air Conditioner
[09:24] {lasertrev} ahhhh, how did u know?
[09:24] {Les} getting hotter here. looking at 93 for friday
[09:25] {Les} afternoon all
[09:25] {Threei}  les :)
[09:25] {Les} Swiss alps are smokin
[09:27] {ese} morning.....just got in from my 30k bike ride
[09:27] {Les} you sick puppy
[09:27] {ese} didn't see patience out there though
[09:28] {ese} as James Brown said.....OUUUUUU "I Feel Good"!!!!
[09:28] {nemo} BIDU at resistance
[09:29] {ese} shes usually walking around the neighbour hood skulking around and stuff like that
[09:29] {Threei}  ese :)
[09:29] {ese} morning vad
[09:29] {jfjf64} mornin traders
[09:29] {ese} jf
[09:29] {jfjf64} ese
[09:30] {jfjf64} feelion bg day
[09:31] {Threei}  jf :)
[09:31] {Threei}  BP sharp selling
[09:31] {jfjf64} y
[09:31] {Les} .50 recross?
[09:32] {Threei}  if goes there, yes
[09:32] {Threei}  alternateively, little pullback and break of .60
[09:33] {ese} L stx .22
[09:33] {nemo} 200 is around .47,might have a little further to go
[09:33] {Threei}  LVS, selling under .80 will be inetersting for long entry
[09:35] {Threei}  if you took LVS, feel free to exit here
[09:35] {ese} stx stop to break even
[09:36] {ese} out1/2 .31 +.09
[09:36] {nemo} bp bounced right at the 200 ma
[09:37] {dino} ctrp hl l .25
[09:37] {Les} bp half out .56 all out .60 ty
[09:37] {ese} out in full stx .42 +.20
[09:37] {dino} gj
[09:38] {dino} fcn sm l .40
[09:38] {dino} jumpy
[09:38] {ese} tks......30k bike ride lots of oxygen to the brain
[09:39] {dino} out fcn -.30 at .10
[09:39] {Threei}  watching HAL and :LVS for pullbacks
[09:40] {Threei}  HAL is trying for .10 break
[09:40] {Threei}  hard to tell ...
[09:40] {nemo} I've got a long term trend line on fcn under 33
[09:40] {Threei}  I'd prefer pullback
[09:40] {nemo} around 32.50
[09:42] {Threei}  26.80 - .90 zone for HAL
[09:42] {dino} fcn sm l .25
[09:43] {Threei}  LVS
[09:43] {Threei}  nice selloff
[09:43] {Threei}  want one more leg down, under .70
[09:43] {nemo} dino, my thoughts are fcn will hve to double bottom scalping this time might be in order
[09:43] {nemo} volume spike
[09:43] {dino} out ctrp .55, +.30
[09:44] {dino} out fcn .75, +.50
[09:44] {dino} ty nemo
[09:44] {jfjf64} d/b  stx
[09:44] {nemo} just a thought
[09:45] {nemo} guess it was right
[09:45] {nemo} wow
[09:45] {nemo} Guess I'm not as dumb as I look
[09:45] {jfjf64} lool
[09:45] {jfjf64} lol
[09:45] {jfjf64} nice
[09:46] {nemo} jf...if you saw what I looked like you'd probably say, "Nobody could be that dumb"
[09:46] {jfjf64} rig  sharp  sellin
[09:47] {jfjf64} ther goes  hal
[09:47] {Les} some self-deprecating humour nemo. we're in fine form today are we?
[09:47] {nemo} yeah, that's what happens when you get no sleep
[09:47] {jfjf64} look  how  used 26.99 for supp
[09:48] {jfjf64} im  sleepin or  what
[09:48] {dino} fcn sm l .00
[09:48] {Threei}  LVS
[09:48] {Threei}  ready to dive under .70 it seems
[09:49] {dino} out fcn .44, +.44
[09:49] {jfjf64} nice  dino
[09:49] {dino} lucky
[09:49] {nemo} he's a scalpin' fool this mornin'
[09:49] {dino} no time
[09:49] {ese} gj dino
[09:49] {nemo} oh yeah, golf
[09:49] {jfjf64} not  me   just FOOL
[09:49] {Threei}  Euro vs US Dollar USD off session highs as equity markets probe positive territory
[09:49] {Threei}  - FX dealers noting risk appetite aiding by FT Alphaville article stating that Goldman Sachs chief US economist calling for a second US stimulus package (duped QE2)
[09:49] {Threei}  - Article noted that US economist Jan Hatzius reckoned there are enough "disturbing signs" with last Fridays payroll report and recent CPI releases to justify further policy easing via a return to unconventional monetary policy, and/or fiscal stimulus.
[09:50] {jfjf64} COMON 3I
[09:50] {ese} thats one you've been cashing in on for a few days or is it another one
[09:50] {Threei} Long Setup:  CAT  .10 break
[09:51] {ese} in
[09:51] {Threei}  half out
[09:51] {ese} out .19
[09:51] {ese} .11 to .19
[09:51] {dino} fcn sm l .80
[09:52] {Threei}  stopped second half under b/e
[09:52] {ese} tks vad.....very quick
[09:52] {ese} just barely made that
[09:52] {Threei}  if not that offer at .20 would have been bigger one
[09:52] {dino} out fcn .20, +.40
[09:52] {jfjf64} look  hal
[09:52] {nemo} dino, if fcn loses low, next support I have around 30.00
[09:53] {dino} ty
[09:53] {ese} fcn
[09:53] {dino} don't think it will lose it, higher lows building
[09:53] {nemo} ese?
[09:53] {nemo} yeah
[09:53] {ese} nemo?
[09:53] {nemo} but market force is down
[09:53] {dino} its always down
[09:54] {nemo} true
[09:54] {nemo} hehehehe
[09:54] {dino} lol
[09:55] {ese} L spy .39
[09:56] {ese} out spy.51
[09:56] {ese} +.12
[09:57] {ese} damn.........should have been 1/2 out
[09:57] {ese} wasn't watching what i was doing when i pulled the trigger
[09:57] {Threei}  anyone went for LVS under .70?
[09:57] {ese} not I
[09:58] {gregns} yes @ .70 and then partialed
[09:58] {Threei}  :)
[09:58] {gregns} too soon
[09:58] {gregns} ty
[09:58] {Threei}  welcome
[09:58] {ese} daaaaaaaa!!!!!!! spy
[09:58] {nemo} look for fcx to have problems at or before .90
[09:58] {Threei}  ugh... CAT was worth reentry
[10:00] {dino} fcn sm l .02
[10:00] {nemo} fcx loss of .60 might be nice short
[10:01] {ese} I think that spy trades better than the qqqq.......momentum carries on without short apuses like the q's
[10:01] {ese} pauses
[10:02] {ese} is that fair to say vad........have you traded them much
[10:02] {Threei}  not really
[10:02] {dino} out fcn .68, +.66
[10:03] {nemo} milkin' that cow dino
[10:03] {ese} good job dino
[10:03] {dino} is good
[10:03] {ese} ya i'll say
[10:03] {dino} waiting around .20 this time
[10:04] {ese} there should still be a fair amount of short covering to go yet
[10:05] {dino} fcn sm l .25
[10:05] {ese} go dino go!
[10:06] {ese} nice at .50 almost
[10:08] {ese} bouncing around like ......like a....like a....something
[10:08] {nemo} fcx hit .93 and then sank
[10:09] {jfjf64} sharp  pullbk
[10:09] {jfjf64} fcx
[10:09] {dino} out fcn .90, -.35
[10:10] {nemo} [09:58] {nemo} look for fcx to have problems at or before .90
[10:10] {nemo} db here though
[10:10] {dino} son of a
[10:10] {nemo} it's "sonafa..."
[10:10] {Threei}  Fed's Fisher
[10:10] {Threei}  warns that the Fed should take care not to ruin its credibility.
[10:10] {dino} ahh
[10:10] {Threei}  I'd say, that train has left
[10:11] {nemo} might be a little late for the obsequious bastards
[10:11] {hawk} {= fumbling for my dictionary...ob-se-qu
[10:12] {nemo} brownnosers
[10:12] {dino} fcn sm l .80
[10:12] {Threei} Short Setup: LVS  .10 break
[10:12] {nemo} Bernanke has his head up Barne Frank's ass
[10:12] {dino} other way around i suppose
[10:12] {nemo} nah, barney has room
[10:13] {dino} lol
[10:15] {dino} out fcn .52, +.72
[10:15] {ese} it's taken off again dino
[10:15] {ese} ahhhhh your out....cash cow man cash cow
[10:15] {dino} big range .76-.75ish
[10:15] {ese} yes.......semi dangerous spread
[10:16] {dino} breaking out
[10:16] {ese} yup
[10:16] {dino} nope
[10:16] {dino} yep
[10:16] {ese} i think it will
[10:16] {ese} there
[10:16] {nemo} stop .20 on LVS vad?
[10:16] {Threei}  yes
[10:17] {nemo} bis are moving up
[10:17] {ese} i'd say you could now take the day off
[10:17] {Threei}  thought of recalibrating it to .15 break
[10:17] {Threei}  too bad didn't go for it
[10:17] {Threei}  wiuld have been 1:2 already
[10:17] {Les} scalp or partial
[10:17] {dino} probably should
[10:18] {Threei}  discretionary Les... can't tell really
[10:18] {Threei}  1:1
[10:18] {nemo} 1/2 out
[10:18] {ese} hit the links
[10:18] {Threei}  stop to above b/e
[10:18] {dino} yes, in about 45 minutes i'm outta here
[10:19] {dino} +656
06[10:19] * Threei slaps dino around a bit with a large roll of cash
[10:20] {nemo} you aim for 600 a day right...leave now
[10:20] {strider} Still partial in LVS?
[10:20] {Threei}  discretionary decision
[10:21] {dino} yeah, paying some bills, mosdt likely done trading
[10:22] {Threei}  1:2 almost
[10:22] {ese} well done dino
[10:22] {hawk} nice vad, thx
[10:22] {Threei}  out .93
[10:22] {Threei}  welcome
[10:22] {nemo} ty
[10:23] {dino} thx
[10:23] {dino} nemo, you were helpful w/levels, you're good at that
[10:23] {nemo} awwww shucks....
06[10:23] * Threei slaps nemo around a bit with a large laser level/studfinder combo
[10:23] {ese} agreed
[10:23] {nemo} I have no idea when I looked at that stock, but i had the levels in there from then
[10:24] {dino} next time jump aboard
[10:25] {Les} joined you for a couple dino, but moving a bit faster than what I prefer
[10:25] {nemo} That kind of volatility a bit much for me
[10:25] {dino} 300 sized
[10:26] {ese} dino's the nerves of steel guy
[10:26] {nemo} he and Vad
[10:26] {ese} yup indeed
[10:26] {nemo} speaking of nerve....where's mags?
[10:27] {ese} it took nerve just to ask that
[10:27] {dino} dk, he's not around much
[10:28] {Les} dino WHR here. what do ya think?
[10:28] {nemo} well, if spy loses .80 level, we may have yesterday's market
[10:28] {ese} mind if i ask why.....I miss him on the board
[10:28] {dino} whr = pulp, prefer it buck lower
[10:28] {nemo} les looks reasonable, set stop at vwap
[10:29] {Les} agreed dino
[10:29] {Les} for safer enty
[10:29] {Les} entry
[10:29] {nemo} spy at .80
[10:29] {nemo} up now
[10:29] {Les} I see your vwap stop nemo, but want safer entry
[10:29] {nemo} or smaller shares
[10:29] {nemo} woulda' just picked up .20
[10:30] {nemo} .24
[10:30] {Les} woulda, coulda, shoulda. mighta dropped on me too.
[10:30] {nemo} size lot according to stop
[10:31] {Les} blah blah blah
[10:31] {Les} one vad is enough
06[10:31] * nemo slaps Les around a bit with a large book of Techniques of Tape Reading
06[10:32] * Threei slaps Les around a bit with a large Master Profit Plan
[10:32] {nemo} in fcx .95
[10:32] {ese} L nihd .20
[10:33] {nemo} out 61.06
[10:34] {nemo} ahh crap, probably going to .50
[10:34] {Les} bp vad
[10:35] {Les} 33 break?
[10:35] {Threei}  nah
[10:35] {dino} dumb question, what is vwap?
[10:35] {nemo} Volume Weighted Average Price
[10:35] {Threei}  voodoo
[10:35] {Threei}  oops... yes, that
[10:35] {nemo} It is the average price paid for a stock over a given period of time
[10:36] {nemo} well, it's funny how many stocks bounce or drop from it
[10:36] {nemo} frickin' Vad
[10:36] {ese} 1/2 out nihd .35 +.15
[10:36] {Les} http://uploads.mibbit.com/Qa8wEU.gif
[10:36] {ese} stop to break even remainder
[10:36] {nemo} Les...see whr?
[10:37] {nemo} hehehehehe
[10:37] {Les} yeh yeh. see the brown line under .50 dino. that's the vwap for WHR
[10:37] {Threei}  intelliscan has alerts based on VWAP
[10:37] {Les} lvs at top of trend line vad. pullback entry?
[10:38] {nemo} yep, kickin' myself in the ass on fcx
[10:38] {strider} I coulda done that for ya, nemo,
[10:38] {Threei}  feels to me like another short Les
[10:38] {dino} ok, i don't have them
[10:38] {nemo} thanks strider
[10:38] {strider} np
[10:38] {nemo} can always depend on you
[10:38] {strider} well, I try to be of help.
[10:39] {strider} You know, if you can't be smart, be useful.
[10:39] {nemo} I have a hard time being either
[10:40] {strider} Les, is that you?
[10:40] {nemo} yeap...fcx hit my .50
[10:40] {nemo} ahhhhhhhhhhhhhh
[10:40] {nemo} excuse me....time for the hair shirt and the cat-o-nine tails
[10:40] {strider} GS rockin'
[10:41] {Les} half out lvs .10
[10:41] {strider} {---------note to self:  an idea is not a setup.
[10:42] {dino} uhal
[10:42] {ese} nihd balance stopped .20 +/- .00
[10:42] {dino} too thin
[10:42] {nemo} well, I took fcx without a set stop, oy vay...just had the feeling
[10:42] {larisa} not on day high break?
[10:42] {strider} short GS .12, stop hod
[10:44] {strider} stop .33
[10:45] {Les} 2nd half stopped flat 50 ma bounce. watching for another entry
[10:45] {larisa} was reading it as "without set up", brain does not work properly  :)
[10:46] {Les} idea was concreted as setup straight away strider
[10:46] {nemo} bidu bounced at vwap also
[10:46] {Les} stop .20 entry break of .15 half out .10
[10:46] {nemo} ahhhh...voodoo sorry
[10:47] {strider} cover .90 GS
[10:49] {nemo} .25 break lvs?
[10:49] {nemo} in .25
[10:50] {nemo} stop .15
[10:50] {Les} half out lvs .30
[10:50] {Les} ;) one step ahead o' ya nemo
[10:51] {nemo} congrats
[10:51] {Les} what no bitter pill for me to swallow? :(
[10:51] {dino} gj
[10:52] {nemo} that's it I get real friendly...then get real close....then BAMMMM!!!!
[10:52] {strider} FCX long on pb?
[10:52] {nemo} looks short here strider
[10:52] {Les} 2nd half stopped flat
[10:52] {strider} trying long .37
[10:53] {strider} stop .24
[10:53] {nemo} nice strider
[10:54] {strider} sell at .57
[10:54] {strider} out
[10:54] {Threei}  market comes into major resistance zone
[10:56] {Threei} Short Setup: FCX  .50 break
[10:57] {Threei}  if stays under .60
[10:57] {strider} short .52
[10:58] {Threei}  1:1
[10:58] {nemo} stop on lvs now .20
[10:58] {Threei}  (GR) Banking stress test results may reportedly involve a haircut of 16-17% for Greece sovereign bonds - unconfirmed report
[10:58] {Threei}  - Note: Earlier reports circulated that the European stress tests would exclude a haircut for German sovereign debt and forecasted haircuts of sovereign bonds of some European peripherals (PIIGS countries) to be in double digit percentage range.
[11:00] {strider} cover 1/2 fcx .40, stop b/e
[11:01] {nemo} partialing at .32, big seller
[11:01] {nemo} if that lifts though
[11:01] {nemo} stop now .25
[11:01] {nemo} lifted
[11:02] {strider} stop bal. .53
[11:03] {nemo} another partial .37
[11:03] {nemo} last target .45 stop at .30
[11:03] {nemo} ehhh....28
[11:04] {nemo} mmmmhhhh, might get bohica'd on the last quarter
[11:05] {dino} wow whr
[11:05] {Threei}  very methodic and structured partialling and trailing guys
[11:05] {Threei}  nice to see
[11:05] {Les} wfc .80 short?
[11:05] {Threei}  I think so
[11:06] {Les} .82 aggressive entry.
[11:06] {Les} fas yet to find support
[11:07] {nemo} [10:28] {nemo} les (WHR) looks reasonable, set stop at vwap
[11:07] {nemo} out last lvs
[11:08] {Les} t'was a nice setup nemo
[11:08] {Les} { wipes tear from eye
[11:08] {nemo} that's alright, I'm still kicking myself from the early out of my fcx long...
[11:09] {Les} I was long with you
[11:09] {nemo} mmmmmhhh...something wrong with me
[11:09] {nemo} 2nd time today I'm nice to Les
[11:09] {Les} pulled out when I had seen you scalped
[11:09] {Les} how stupid of me
[11:09] {nemo} Not really
[11:09] {nemo} I scalped because it was a feeling on the break
[11:10] {nemo} I didn't have a stop...which made my sphincter pucker
[11:10] {strider} too mmuch information!
[11:10] {nemo} thus...since my discipline was lacking, I thanked the trading gods for the scalp
[11:10] {nemo} even though it looked like it was headed for the .50 area
[11:11] {nemo} lvs rinsed me of the last quarter
[11:11] {nemo} should have kept the .25 stop
[11:12] {nemo} dino fcn testing lows
[11:13] {Threei}  IMO, market reverses here
[11:13] {nemo} yeah, but then again, that's probably what everybody expects
[11:13] {Les} cover half wfc .77
[11:17] {dino} gotta hop, gl all and thx
[11:18] {Les} well done dino. cia
[11:18] {Les} ciao
[11:19] {Les} 1/4 covered wfc .70
[11:19] {strider} short .52 FCX, stop hod
[11:20] {strider} bid .35
[11:21] {Les} with ya st covered 200 .42 50ma support. another 300 to cover lower
[11:22] {strider} stop to b/e
[11:24] {strider} -.02 stop .
[11:25] {Les} stopped .65
[11:25] {Les} should have dumped all at support.
[11:28] {Les} last quarter wfc covered +.03
[11:28] {Les} market starting to wander and I gotta pack the car for italy tomorrow
[11:28] {strider} FCX short .65-.52 covered.
[11:40] {Threei}  for those who have a withdrawal syndrome, relief is coming:
[11:40] {Threei}  guess who is on TV soon to speak on job grotwh
[11:40] {strider} methadone for traders?
[11:40] {Les} you mean QE 2 and another massive rally for us?
[11:41] {Threei}  for now I just mean TV appearance we all came to know and love
[11:41] {strider} shorto fcx .57 stop .75
[11:41] {Les} does he have his own sitcom hour?
[11:41] {Threei}  very much looks so
[11:45] {strider} bid 1/2 .45
[11:46] {Threei}  (IT) Reportedly austerity plans to face vote of confidence in parliament
[11:46] {Les} what austerity plans?
[11:47] {Les} slb .50 b/d?
[11:47] {strider} cover 1/2, stop to b/e for balance
[11:47] {Threei}  probably, yes on SLB
[11:48] {Les} s slb looking for 1:2
[11:48] {Les} vwap below .30
[11:50] {strider} stop bal. -02 .59
[11:51] {Threei}  here we go
[11:56] {Threei}  nice breakdown FCX
[12:09] {Les} slb stopped
[12:19] {ese} .
[12:19] {ese} opps
06[12:19] * nemo slaps ese around a bit with a large set of Strunk & White
[12:20] {ese} lol
[12:22] {Les} RIG
[12:23] {nemo} just hop on a pullback to trend...having sai that, you might want to watch it's behavior around R2, because it looks like spy might challenge the highs at that time
[12:23] {nemo} o.k. Leslie?
[12:23] {Les} huh?
[12:23] {nemo} RIG
[12:23] {Les} yeh
[12:24] {nemo} just my opinion, and we know what those are
[12:24] {Les} sound investment ideas?
[12:24] {nemo} no, the trade idea
[12:24] {nemo} I don't invest
[12:41] {Threei}  will we erevrse today??
[12:42] {nemo} imo...no, hold range or higher
[12:44] {Les} was reading article by private firm yesterday. they checked the reversal we had yesterday against database of comparable moves
[12:44] {Les} found that market almost always moved higher following day
[12:44] {Les} didn't wanna believe it, but...
[12:44] {Threei}  always?
[12:44] {Threei}  no such thing in the market
[12:44] {Les} 1 exception
[12:47] {Les} sorry, here is the original. not so cut n dried:
[12:47] {Les} http://www.businessinsider.com/todays-pullback-may-not-be-all-bad-news-2010-7
[12:49] {Threei}  May Mean
[12:49] {Threei}  I'll venture to say, today's rally may mean tomorrow we end red
[12:50] {Threei}  and if we don't - which part of MAY don't you get...
[12:50] {Les} yeh so its a coincidence. whatever
[12:50] {Threei}  maybe, may be not,
[12:50] {Les} :)
[12:50] {Threei}  it's just not the study I can verify even remotely
[12:50] {Threei}  too much slack
[12:51] {Threei}  nothing is quantified
[12:51] {Threei}  "reversal like we had today" - can you imagine how many variables can be squeezed in this definition? :)
[12:53] {Threei} Short Setup: BIDU  .70 break half lot
[12:53] {Threei}  if stays under .85
[12:58] {Threei}  that hug bid at .73, if broken, can go in
[13:00] {jfjf64} in
[13:00] {Les} fake bid
[13:00] {strider} was fake bid
[13:00] {nemo} no
[13:00] {Les} it was you nemo?
[13:00] {nemo} no
[13:01] {nemo} yeah, I'm gonna' buy 100 lot
[13:01] {Les} get a bloody sense of humour about ya!
[13:01] {nemo} breaks at lunch time
[13:01] {nemo} no humor regarding money
[13:01] {Threei}  kidding?
[13:01] {Threei}  there is nothing funnier in the world
[13:02] {nemo} well yeah, if you're the USD
[13:02] {nemo} out
[13:04] {nemo} bidu will break 70 today
[13:14] {nemo} 1/2 out bidu .25
[13:14] {nemo} in 70 break
[13:16] {nemo} ehhhh. all out .25
[13:17] {nemo} lunch break Vad ;)
[13:17] {Threei}  well... some of them work
[13:17] {Threei}  and sometimes it rains
[13:18] {nemo} nah...look at the  15 minute chart on bidu and the spys...the spys break their level everything else was going with it.
[13:29] {ese} ok ...off to the doctor for a check up...see you in a bit
[13:29] {Threei}  take care ese
[13:33] {Threei} Short Setup: LVS  .40
[13:34] {Threei}  if stays under .50
[13:41] {strider} short gs .64 stop .80
[13:43] {Threei}  let's recalibrate LVS
[13:43] {Threei}  .45 break
[13:45] {Threei}  come on market
[13:45] {Threei}  roll over and die
[13:46] {Threei}  invalidated
[13:46] {strider} stop gs .83 -.19
[13:51] {Threei} Short Setup: HAL  .60
[13:52] {Threei}  if stays under .70
[13:57] {Threei}  needless to say
[13:58] {Threei}  if first half of the day went under the slogan "take profit", second is all about "invalidated"
[14:02] {strider} lon g .GS .71
[14:02] {strider} stop .60
[14:04] {strider} stop .55
[14:12] {Threei}  I don't bel;ieve we will end up like this
[14:12] {Threei}  reversal must be in cards
[14:12] {Threei}  if only to lure in new shorts
[14:13] {_srdalt} sorry ım new what is gs , hal, lvs :)
[14:13] {Threei}  stock symbols...?
[14:15] {Les} GS vad, .50?
[14:15] {Les} small shares
[14:16] {Threei}  I'd prefer short into bounce
[14:16] {Les} cool
[14:16] {Threei}  as all volatile names, GS doesn't respond well to such breaks
[14:16] {Threei}  snapbacks are too wide
[14:16] {strider} tell me about it.
[14:16] {strider} Oh, you just did.
[14:17] {Threei}  remember the mantra about momos: "no breaks, pullbacks only"?
[14:17] {Threei}  applicable to all volatile moves
[14:17] {Threei}  sometimes they give tight consolidation that can be played normal way
[14:18] {Threei}  but that's rather exception
[14:24] {nemo} look at 71 level bidu
[14:24] {Threei} Short Setup: LVS  .70
[14:25] {Threei}  come on market , it's high time to retreat a bit
[14:25] {Threei}  stop is obvious
[14:26] {Threei}  1:1
[14:34] {Threei}  1:2
[14:34] {Les} of course this is the time that I am frikin eating. sheesh
[14:35] {nemo} yeah...tough to trade when you're down on all fours
[14:35] {Les} wow GS went out with a whimper
[14:35] {hawk} lol
[14:35] {Les} that was pathetic
[14:35] {nemo} you forget...we saw your picture
[14:42] {strider} BIDU
[14:50] {Les} http://mondial2010.tsr-rsr.ch/
[14:51] {strider} cette videio n'est pas accessible
[14:52] {Les} frikin tv and their old world licensing system.
[14:52] {Les} no wonder people pirate stuff nowadays. with stupidity like that
[14:53] {Les} 20 mins. into Germany Spain semi final
[14:53] {Threei}  FDA Official: Risks associated with Fen-Phen are unique and will not impact review of Vivus or Arena medications
[14:54] {Threei}  that's VVUS spike
[14:55] {Les} wfc hod
[14:55] {Les} 3rd attempt at break
[14:59] {strider} FCX not participating
[14:59] {nemo} well, it's up 5.5%...that's not bad
[15:00] {strider} mean just in last few minutes of rally.
[15:00] {nemo} pause that refreshes...
[15:01] {strider} wants to go back to the barn.
[15:02] {gregns} is anyone still in LVS
[15:03] {Les} no I was on all fours apparently
[15:03] {strider} tmi :(
[15:03] {Threei}  wow VVUS
[15:08] {Threei}  momo
[15:08] {Threei}  pullbacks are being bought
[15:09] {Les} IN
[15:10] {Les} just kiddin. I miss the magoo humour
[15:10] {strider} No.  This is like shooting a deer, Les.   You can't put it back.
[15:11] {Les} course you can. send it to a taxidermist
[15:11] {strider} No taxis in the woods.
[15:12] {Les} hillbilly humour huh...
[15:12] {Les} how's weather your way st
[15:12] {Les} steaming like Nemo?
[15:12] {strider} Pretty nice, actually.
[15:12] {Les} you in mountains?
[15:12] {strider} No rain for several days.   Mid-80s
[15:12] {Les} that's our normal summer
[15:13] {Les} but getting a bit crazy here
[15:13] {strider} long VVUS .98
[15:13] {Threei}  a little far from pullback bottom
[15:13] {strider} yes, it is.
[15:14] {strider} But didn't know that was the bottom when it happened. :)
[15:14] {Les} where vad? .80 break?
[15:14] {Les} recross
[15:15] {Threei}  desirably
[15:16] {Threei}  better yet, sharp dive to .70
[15:16] {strider} stop .79
[15:17] {strider} OK.  That is not the most right I've ever been.
[15:19] {Les} 80 it was. missed it
[15:19] {nemo} o.k. time for me to leave...c u 2morow
[15:19] {Threei}  take care nemo
[15:19] {Les} ciao
[15:22] {Les} vvus b/d time?
[15:23] {Threei}  toughie
[15:25] {strider} vad, do you regard GS as pretty much always a momo?
[15:26] {Threei}  well... as a thin volatilie stock
[15:26] {Threei}  which means it does have some traits of momo
[15:28] {strider} Have you ever looked at pair trading?
[15:29] {strider} Looked at= tried it?
[15:30] {Threei}  different people put different meaning into that term
[15:30] {strider} k
[15:30] {Threei}  what exactly do you mean?
[15:30] {strider} Buying one stock and shorting another at the same time
[15:30] {Threei}  why?
[15:30] {strider} Complicated to explain.
[15:31] {strider} But on the assumption that they move in some tandem way.
[15:31] {Threei}  so one serves as a hedge for another
[15:31] {Threei}  so how do you profit?
[15:31] {strider} And they've gotten away from each other.
[15:31] {Threei}  ahh
[15:31] {strider} That they'll move back closer together.
[15:31] {Threei}  coupleng.decoupling
[15:32] {strider} Didn't I say that?  :)
[15:32] {Threei}  good luck with that
[15:32] {Threei}  original premise is false
[15:32] {strider} uh-oh.
[15:32] {Threei}  it's vased on assumption that there is some historic relation
[15:33] {Threei}  and it should be restored when hey deviate from it
[15:35] {Threei}  amazingly, market ends at the high
[15:35] {Threei}  in reality, we see these relations changing all the time
[15:36] {Threei}  between currencies, commodities, stocks
[15:36] {strider} right.
[15:36] {Threei}  not to go far in search of an example,
[15:36] {Threei}  how common knowledge is that gold and USD move in inverse relation?
[15:36] {Threei}  and how often have we seen them moving in tandem?
[15:39] {Threei}  wow
[15:39] {Threei}  dose of idiocy waieted almost till the end of the day to be injected, but it's a very large dose:
[15:39] {Threei}  (US) Fed's Kocherlakota: Financial institutions should be taxed based on the risk they create
[15:39] {Threei}  - Getting the tax right would cover the true cost of risky activities
[15:39] {Threei}  - Bailouts of financial markets are inevitable, no legislation could eliminate market crises.
[15:40] {Les} not sure he's properly considered these comments
[15:42] {Threei}  I am sure he is an idiot
[15:45] {Les} ok. I am off to Italy. c u's on Monday the 19th
[15:45] {Threei}  have fun
[15:45] {larisa} bye les
[15:45] {Les} I suck and am definitely returning to paper trading except for your calls
[15:46] {Les} ciao
[15:46] {strider} Have a good trip, les.
[15:47] {Threei}  (GR) Greek Parliament approves preliminary pension reform law, part of austerity measures
[15:47] {Threei}  - Vote was 159 to 137
[15:47] {Threei}  - For the bill to become law, it will need to pass a second vote on Thursday; also the day of the 24 hour strike organized against the pension reform
[15:54] {strider} GS hits 136
[15:56] {Threei}  thank you all
[15:56] {Threei}  have a good evening, see you tomorrow
[15:56] {strider} thanks vad