Oct 25 2010

Let's touch on the method of playing reversal (yes, again). In this particular case, there are are two concepts helping with structuring the play. First is lower highs - you can see first top formed at 39.88, then lower ones at .84 and .77. Next step is finding a trigger for entry. This is where old principle of "former resistance becoming new support" comes in play (attendees of Bahamas conference will remember the detailed explanation how and why it works). You can see 39.70 resistance formed earlier in the morning, and you can see how this level becomes a support of the descending triangle shaping up after the peaking out. Break of this support signals short entry. Chart shows the drop for 1:3 risk/reward where we closed the trade; stock proceeded to slightly more than 1:4 after that.

Once again I want to reiterate the underlying philosophical principle of finding the reversal trade: we do it on the right side of the actual reversal when the recognizable setup forms - as opposite to attempts to find the reversal point beforehand, on the left side.


Other than that, fair day for a Monday with 3 wins out of 4 triggered calls. 


Session Time: Mon Oct 25 00:00:00 2010
[06:08] {KSystems} morning
[08:43] {davd} watching uncle ben?
[08:50] {Threei}  why, is he dancing?
[08:51] {dino} gm all
[08:51] {Threei}  dino :)
[08:52] {davd} he's singing, about the mortgage foreclosures.
[08:52] {Threei}  thank goodness... him dancing would be oh so not pretty
[08:54] {Les} hey vad
[08:54] {Les} morning guys
[08:55] {Threei}  hey Les
[08:56] {Les} vad seeing some commentary elsewhere on overnight futures, been meaning to ask...
[08:56] {Les} u look into the overnight futures for the range as part of your morning warm up?
[08:57] {Threei}  unless I feel especially lazy :)
[08:57] {Les} is that the exception or more the norm? ;)
[08:57] {Threei}  it's one of indications of support/resistance levels, and not very significant one
[08:57] {Les} ah ok
[08:57] {Threei}  lol... good question
[08:58] {Threei}  some view those ogg-hours moves as a gospel
[08:58] {Threei}  it's just trading
[08:58] {Threei}  it's not like futs are being traded by some omniscient entities overnight
[09:01] {Les} ok ty
[09:02] {Threei}  and I saw some conspiracies gone wild
[09:02] {Threei}  like, powerful manipulators signalling one to another where they are going to take the market
[09:02] {Threei}  by touching some levels in overnight trading
[09:02] {Threei}  shrug
[09:03] {ese} morning
[09:03] {Threei}  ese :)
[09:04] {ese} vad
[09:04] {Threei}  so, anyone bothered to look what those irrelevant 20 decided over the weekend?
[09:05] {Threei}  btw ese, do I have a few photos of our favorite townfor you
[09:05] {Threei}  http://photography.realitytrader.com/
[09:06] {Les} nice. seen that weeping willow before in your photos. where is it?
[09:06] {Threei}  Victoria
[09:06] {Les} public garden?
[09:06] {Threei}  yes
[09:06] {Threei}  park
[09:08] {ese} wow vad...Beacon Hill park right?
[09:08] {Threei}  yes
[09:08] {ese} that first one is stunning.......with the rays of light......
[09:08] {Threei}  yes:)
[09:09] {ese} Break Water.......
[09:09] {Threei}  wow... these two points in G20 communique are, how to say it softly...
[09:09] {Threei}   Pursue our work decisively to tackle Non-Cooperative Jurisdictions.
[09:09] {Threei}  Recognizing the importance of enhancing public-private partnership to promote economic growth beyond the crisis
[09:11] {Threei}  things slowly become scary
[09:11] {ese} Vad.....where is that light house located
[09:11] {Threei}  breakwater area
[09:11] {ese} is that just south of oak bay?
[09:12] {Threei}  wait
[09:12] {Threei}  which photo are we talking?
[09:12] {ese} monday july 12 2010
[09:12] {Threei}  hold on, let me look
[09:12] {ese} heading....whales an other mostly seimming things
[09:13] {ese} and other mostly swimming things
[09:13] {Threei}  this one?
[09:13] {Threei}  https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEjSlnK33SVIkmCLwII7Q8AEz94Vmbp-nCGR59cbZkb10yuSooTjRNlck2qdZYK4sQUzVC5P7wixMgzGgN5k1THNFbdCrcEDbTDCsaxC_rBoHvAjY3fYNWCTE1n67a3EXB_To12vnF6T1t4/s1600/A7117181.jpg
[09:13] {ese} yes
[09:13] {Threei}  yup, a bit to the south of the golf course
[09:14] {ese} where were you when you took that......thats an angle i haven't seen
[09:14] {Threei}  on the boat :)
[09:14] {ese} ahhhhhhh
[09:14] {KSystems} morning
[09:14] {ese} ks
[09:14] {Threei}  ks :)
[09:16] {ese} that first one in beacon hill park takes the cake vad.......it's stunning the way you have captured the light rays
[09:18] {ese} am looking for some of Willows Beach sometime.......
[09:18] {Threei}  :)
[09:19] {larisa} gm :)
[09:19] {Threei}  larisa :)
[09:19] {larisa} vad :)
[09:19] {strider} FFIV
[09:27] {jfjf64} mornin
[09:28] {khaln} g morning
[09:28] {RonS} howdy
[09:32] {Threei}  jf, khaln, ron :)
[09:33] {Les} LVS pivot support .20
[09:34] {Threei} Long Setup:  RIMM  .55 break
[09:34] {Threei}  if stays above .40
[09:35] {Threei}  LVS got away, was thinking .35 break
[09:35] {jfjf64} in
[09:35] {Threei}  RIMM 1:1
[09:36] {Les} out. first win after getting back in. ty
[09:36] {Threei}  welcome
[09:38] {Threei}  LVS, watching for pullback into zone .20 - .30
[09:39] {Threei}  where I'll get interested
[09:41] {ese} out entr..82 +.76
[09:41] {Les} sweet
[09:41] {ese} 9k sweet
[09:41] {Les} ouch!
[09:41] {Les} weekend hold?
[09:42] {ese} yes......
[09:42] {ese} dangerous with g20 meeting
[09:42] {Les} understatement
[09:42] {Les} hi risk hi reward
[09:43] {ese} don't try this at home unless you have an account that could take a serious drawdown
[09:45] {dino} wtfg
[09:46] {ese} tks
[09:46] {jfjf64} amd
[09:48] {Les} banksters showing weakness BAC WFC
[09:48] {Threei}  (US) Preview: Sept Existing Home Sales due out at 10:00ET
[09:48] {Threei}  **Consensus expectation: 4.3Me v 4.1M prior
[09:49] {Threei} Short Setup: RIMM  .70 break
[09:49] {Threei}  if stays under .75
[09:49] {Threei}  ridiculously tight stop\
[09:49] {jfjf64} mks sence
[09:50] {Threei}  want double top play, agressively
[09:50] {Threei}  invalidated
[09:52] {Les} which chartserver vad?
[09:52] {Threei}  was a two-sided setup in rertospect
[09:52] {Threei}  just switch to any
[09:53] {dino} algn l .18
[09:54] {strider} $18?
[09:58] {dino} yes. .00
[09:59] {ese} L algn .02
[10:01] {Threei} Short Setup: ADBE  .10 break
[10:01] {Threei}  if stays under .20 for scalpers, .25 for day traders
[10:02] {Threei}  wow
[10:02] {Threei}  *(US) SEPT EXISTING HOME SALES: 4.53M V 4.3ME (% M/M)
[10:03] {Les} the consumer has a bit of resilience yet
[10:03] {Threei}  nice, doesn't even break .10 on market spike
[10:03] {Threei}  not a scalp
[10:03] {Threei}  with such relative weakness can do much better
[10:04] {Les} pivot support .02
[10:08] {ese} dino...you got a target for algn
[10:08] {dino} wanted hod+, but stalled
[10:09] {dino} needs to get thru .07
[10:10] {Threei} Short Setup: LVS  .70 break
[10:10] {Threei}  CRIS Ticks higher on report that FDA gave permission for use of GDC-0449 experimental cancer drug in a boy with brain cancer
[10:11] {Threei}  stop above .80
[10:15] {dino} algn to flat
[10:15] {Les} tighten up ADBE vad?
[10:16] {dino} ago drop
[10:16] {Threei}  to .20 for now, sure
[10:17] {Les} ok
[10:17] {Threei}  and to .15 as soon as loses 28
[10:17] {Les} banksters and AIG showing weakness
[10:22] {Threei}  LVS 1:1
[10:23] {Threei}  ADBE still needs market to break down decisively, but I rather like its weakness
[10:24] {dino} ago l .15
[10:27] {jfjf64} csco  5 mi
[10:27] {jfjf64} .91
[10:29] {strider} adbe stop still l.20?
[10:29] {strider} .20
[10:30] {Threei}  kind of matter of personal choice to keep it there or trail to .15
[10:30] {Threei}  but when breaks 20, trail for sure
[10:31] {Threei}  1:1 for scalpers
[10:34] {Les} I'd like to create new insult for english lexicon
[10:34] {dino} ago stopped
[10:34] {Les} "drop off a cliff index!"
[10:34] {Les} covered half .95 ty
[10:35] {Threei}  1:1 for day traders
[10:39] {Threei}  LVS 1:2
[10:41] {Les} all out .91 ty. taking the bird in hand and preparing dinner.
[10:42] {Threei}  hmm... fried pigeon?
[10:44] {Les} :P
[10:44] {Threei}  LVS 1:3, out
[10:46] {jfjf64} abx
[10:47] {jfjf64} .21 break short
[10:47] {dino} crus l .00
[10:47] {Les} earn a little money, missus is happy
[10:48] {Les} earn a little money, clean kitchen and cook, I AM GOD! in her eyes
[10:48] {Threei}  lol
[10:51] {dino} gj
[10:53] {Threei}  Sony stops prduction of Walkman
[10:53] {strider} SVNT halted
[10:53] {Threei}  oh no... how do I listen music now
[10:53] {Threei}  USGS: Magnitude 7.5 earthquake strikes Sumatra (related TAYD )
[10:58] {strider} c&h spy
[10:58] {Les} never mind vad, vinyl is making a comeback
[10:58] {strider} X short?
[11:00] {Threei}  not sure
[11:00] {Threei}  market seems to be reversing
[11:00] {Threei}  X can easily turn a trap if so
[11:00] {strider} K
[11:00] {strider} k
[11:00] {strider} :)
[11:02] {strider} .
[11:03] {Threei}  feels like strong snapback is coming
[11:04] {Threei} Long Setup:  FCX  .70 break
[11:04] {Threei}  half lot
[11:05] {Threei}  stop under .60 for scalpers, .55 for day traders
[11:06] {Threei}  no go
[11:08] {Les} market made X work like clockwork. pity it was ambiguous
[11:09] {Threei}  was a 50/50 shot as far as I am concerned
[11:10] {Les} yeh I saw what you saw
[11:11] {Les} and am happy that I can resist pressing the button for such half chances
[11:11] {Les} now
[11:12] {Les} this market has punished me enough for trying such moves
[11:16] {ese} stopped algn .60 -.40 1/2lot
[11:16] {ese} L entr .60
[11:17] {ese} a ton
[11:19] {ese} out 1/2 .66
[11:19] {ese} +.06
[11:27] {Les} wfc .80 b/d if market turns south? looks like it might drop regardless....
[11:28] {Threei}  looks like
[11:28] {Threei}  FAS may be better guide for WFC
[11:29] {Les} MACD bullish divergence occurring though in wfc. maybe a two way play
[11:31] {Threei}  market sure strenghtened
[11:31] {Threei}  and FAS is trying
[11:38] {Threei}  SVNT Provides Update on Strategic Alternatives Process; did not result in sale of company
[11:38] {Les} look at GS. flat
[11:39] {RonS} bid catching one
[11:43] {strider} wfc bid new low
[11:50] {Les} fas got plenty air under it strider, but indexes boxed in by MA support and resistance
[11:50] {Les} screwed myself lots of times this summer in such plays
[11:51] {Les} http://www.youtube.com/watch?v=D-0_sL5AAVQ
[11:57] {kowboy} svnt open
[11:58] {Les} wow look at its level 2
[11:58] {Threei}  yikes
[11:58] {Threei}  and I mean YIKES
[12:00] {strider} and Mcgoo's not here.
[12:13] {ese} 10 beans just because the company isn't bein sold?
[12:15] {ese} L svnt .99
[12:16] {ese} out .08 +.08
[12:17] {ese} +.09 no biggie 1 lot
[12:17] {ese} L .97 svnt
[12:17] {ese} out .05
[12:18] {ese} sorry that .03
[12:19] {ese} L svnt ..07
[12:20] {ese} out .24
[12:20] {ese} sorry can't type and do this
[12:20] {strider} so stop doing this, and just type:)
[12:21] {ese} i am L .15 again
[12:22] {ese} out .29 +.14
[12:23] {Threei}  lol
[12:23] {Les} :)
[12:23] {ese} that was interesting
[12:23] {Threei}  ese found ATM
[12:23] {Threei}  grabbed it and started shaking it violently
[12:23] {Threei}  coins poor out
[12:24] {ese} weird way to make  400 bucks and change
[12:24] {Threei}  wow market
[12:25] {Threei}  USD/JPY Nomura managing director Jens Nordvig sees Japan intervening if Yen reaches 80 against the dollar - TV interview
[12:25] {Les}  now how is that possible?
[12:25] {Threei}  (US) FDIC's Bair: Foreclosure problems require an industry-wide solution, litigation stemming from servicing issues could be very damaging
[12:25] {Threei}  - Regulators need to get back to basics when it comes to banking industry oversight
[12:25] {Les} G20 said "market based forces" for currency moves
[12:26] {Threei}  probably this Bair's phrase is what damaging the maerket right now
[12:27] {Les} nice one ese. I want to speak to mags about how he enters such moves. I was tempted to go 100 shares at 11.00
[12:27] {Les} but how best to confirm if support is adequate?
[12:29] {Threei}  on such violent moves there are no technical rules
[12:30] {Threei}  you feel them or not
[12:30] {magoo} good afternoon
[12:30] {Threei}  hey mags
[12:30] {Les} yeh. will start trying small shares when profits are regular
[12:30] {Les} mags
[12:30] {Les} talking about you
[12:31] {magoo} all negative i preume
[12:31] {Les} no, we need the master of momo with SVNT
[12:31] {magoo} holy cow
[12:32] {magoo} was it a halt?
[12:32] {Threei}  yes
[12:36] {nemo} How goes the day?
[12:36] {Threei}  3:4
[12:36] {nemo} for a Monday...;)
[12:37] {Threei}  yeah, no complaints here
[12:37] {Threei}  but want more
[12:37] {Threei}  waiting or a solid one
[12:37] {Les} WFC showing us its colours now
[12:37] {Les} hey Nemo
[12:37] {magoo} whats mkt feel today vad?
[12:37] {Threei}  look at FAS
[12:38] {Les} yeh, sell those banksters
[12:38] {nemo} Mags...saw nice 10 pointer this morning...too far away
[12:38] {magoo} awesome
[12:38] {nemo} if it were firearms season....;)
[12:39] {Les} Vad , MS ain't following the crowd yet. lod b/d?
[12:40] {Threei}  probably
[12:40] {Threei}  these laggers are often tough,
[12:41] {Threei}  either they are laggers or they are stronger than the leader, and only wait for a chance to reverse
[12:41] {Threei}  hard to tell which case it is
[12:44] {Les} ok
[12:47] {magoo} SVNT lil move
[12:52] {Les} this is vwap resistance SVNT
[12:55] {Threei}  TIVO Hearing vague chatter of possible upcoming collaboration with Google (10.80, +0.47, 4.55%) (related GOOG )
[12:58] {dino} .
[13:04] {Threei}  *(US) TREASURY'S $10B 5-YEAR TIPS DRAW -0.55%; BID-TO-COVER RATIO 2.84 V 3.10 AT LAST YEARS REOPENING AND 2.46 OVER THE LAST 7
[13:04] {Threei}  (US) San Francisco Fed Economist: Sees odds of deflation taking hold in the US as quite low (related EUR/USD TLT SHY )
[13:06] {magoo} HRBN cruashed
[13:07] {Threei}  - indirect bidders take 39.37% of competitive bids with 57.82% allotted at the high.
[13:07] {Threei}  - dealers take 57.5%, direct bidders take 3.17%
[13:07] {Threei}  - median -0.635%, Low -0.75%.
[13:11] {Les} mags svnt gonna test lod here u think?
[13:12] {magoo} it has zero momo, not my type to read, sorry
[13:12] {Les} ok
[13:12] {Les} dino?
[13:12] {Threei}  was hot right after opening
[13:12] {Threei}  cooled off totally
[13:12] {Les} ok no play then
[13:13] {Les} X .15 break?
[13:13] {Threei}  nah
[13:13] {nemo} might be a tad early
[13:14] {dino} no
[13:15] {dino} gut says bounces around 11.75
[13:15] {Les} k ty
[13:16] {Les} AIG basing out. dunno if interesting for reversal?
[13:19] {Threei}  looks good candidate
[13:19] {Threei}  (EU) EU's Van Rompuy: EU has not 'softened' its stance on deficits
[13:19] {Threei}  - Note: Earlier ECB's Weber criticized such rules as being 'too soft'
[13:21] {magoo} u reading TNA vad
[13:22] {nemo} watch spy mags
[13:22] {Threei}  first two letters, yes... third escapes me...
[13:23] {Threei}  market seems to be gaining traction
[13:23] {nemo} I have resistance lines in at .50 and vwap just under it for TNA it will likely go there
[13:29] {Threei}  (US) US EPA and DOT confirm increase in fuel economy requirements for new combination tractors, heavy-duty pickups and vans, and vocational vehicles.
[13:37] {Les} damn second time X has given us the slip today.
[13:37] {Les} its become a sly dog to play
[13:37] {Threei}  it's just slow and uncertain tim e of the day
[13:40] {magoo} BIDU is determined to break 110 imo
[13:41] {nemo} watch mon for a short
[13:50] {Threei}  AIG works
[13:56] {RonS} hrbn a dino gap fill in motion
[13:58] {Les} missed .25 break eating tacos for first time in 20 odd years
[13:59] {Les} no regrets either. damned good tacos if I do say so myself
[14:00] {RonS} dang i miss nemo...
[14:00] {Les} well screw me if my comments aren't good enough for ya Ron
[14:01] {RonS} the point is that he would have the prfect retort and it would be intertaining...i mean fer chrissakes tacos in Switzerland sheesh...
[14:02] {Les} lol ok I concede the point
[14:02] {Threei}  lol
[14:02] {RonS} entertaining...sorry
[14:03] {Les} dino, you got an entry strategy lined up for HRBN?
[14:03] {Les} soon as it closes gap etc?
[14:04] {dino} 20 gap
[14:06] {Les} HRBN got a nice MACD bullish divergence happening
[14:07] {dino} any news hrbn?
[14:07] {Threei}  no
[14:09] {dino} hl l .50
[14:09] {dino} stop .23
[14:12] {RonS} aone breakout
[14:15] {Threei}  nice chart for .50 break
[14:15] {Threei}  too bad I haven't seen it back then
[14:15] {Threei}  daily is gearing up for 10 break
[14:17] {Les} out hrbn +.15 thanks dino
[14:17] {dino} ty, your idea
[14:17] {Les} needed help with entry
[14:18] {dino} .25 multiples in direction seem best lately
[14:18] {Les} for all your trades?
[14:18] {dino} stop to .80
[14:19] {dino} most
[14:19] {dino} if .00 goes should get .10-.20
[14:20] {nemo} vwap around .60 and dropping
[14:21] {Les} I chicken out moment SPY drops and I'm left behind :(
[14:21] {nemo} so we can call that a "Les"
[14:21] {dino} lol
[14:21] {nemo} as in "I Lessed out"
[14:21] {Les} DON'T U DARE!
[14:21] {dino} stop to .90
[14:22] {dino} reverse slip out .92, +.42
[14:22] {dino} ty les
[14:22] {Les} yw
[14:23] {Les} so that MACD indicator of yours does work some times Nemo
[14:23] {nemo} I'm looking at other things also
[14:23] {Les} cool. don't be greedy
[14:24] {nemo} your likely to get some consolidation here
[14:24] {Les} q's going for break
[14:25] {nemo} If HRBN hols here and then breaks .00, another entry to vwap
[14:26] {Les} i got 20 and 50ma at around .75. pullback would be nice
[14:26] {nemo} Yeah, but you have a cup here
[14:26] {Les} well it ain't Royal Dalton that's for sure
[14:27] {nemo} Wedgewood
[14:27] {Les} made in china
[14:27] {nemo} O.K.  How about Riedl crystal
[14:27] {nemo} ?
[14:28] {nemo} Kufstein, Oesterreich I believe
[14:28] {Les} champagne tastes hey...?
[14:28] {Les} I see their wine degustation glasses
[14:28] {Les} but at the rate I break wine glasses
[14:28] {nemo} the good old days, breathe on the glasses and they break
[14:28] {Les} no way!
[14:29] {nemo} getting your pullback in hrbn
[14:30] {Les} dunno. tempted to wait for vad to find one last juicy trade
[14:30] {dino} yourb .75 was good
[14:31] {Les} {----- blushes
[14:31] {Les} call me "son on Nemo"
[14:31] {Les} of, not on lol
[14:31] {Threei}  both are funny
[14:32] {Les} that's cause u r evil vad
[14:32] {nemo} interesting, just did fib retracement on the hrbn drop. 23.6 is at .79 38.2 is 21.25 vwap just about .50, spy goes, might go with it
[14:32] {Threei}  if not for evil how would thee tell the good
[14:32] {Les} larisa
[14:32] {Les} larisa is good so I know u r evil
[14:33] {Threei}  makes sense...
[14:33] {dino} hmmm lower high
[14:35] {Les} vad I have forgotten how to zoom in on laser 1 min. chart. Please remind me.
[14:36] {nemo} up and down arrows
[14:36] {Les} u in again dino?
[14:36] {nemo} or back and forth
[14:37] {Les} nope nothing. we have to program the keys?
[14:37] {Threei}  no
[14:37] {Threei}  click o chart so it's an active wondow,
[14:37] {nemo} check the programmed keys
[14:37] {nemo} should be standard
[14:37] {Threei}  then look under the menu, there is a row of buttons
[14:38] {Threei}  right under Route, there are two buttons with || and arrows directed inside and outsikde
[14:38] {Threei}  those are zoom in and out
[14:38] {Les} oh of course! ty
[14:39] {Les} q's selloff
[14:39] {Les} market selloff
[14:39] {nemo} atch for spy bounce at .75
[14:39] {Threei}  sudden
[14:39] {Threei}  must be news for it
[14:39] {nemo} got it here looks like
[14:41] {nemo} I'd play tna on spy break here
[14:44] {Les} looks like HRBN gone cold
[14:50] {Les} NEW YORK (MarketWatch) -- The Treasury Department sold $10 billion in 5-year Treasury Inflation Protected Securities on Monday at a yield of negative 0.55%
[14:50] {Les} ?
[14:50] {nemo} Alright, off to find Bambi, or some reasonable facsimile thereof
[14:51] {Les} hey hunting season already?
[14:51] {Les} ciao
[14:51] {Threei}  les
[14:51] {Threei}  13:04] {Threei} *(US) TREASURY'S $10B 5-YEAR TIPS DRAW -0.55%; BID-TO-COVER RATIO 2.84 V 3.10 AT LAST YEARS REOPENING AND 2.46 OVER THE LAST 7
[14:51] {strider} I think he just collects Bambi dolls, Les.
[14:51] {Les} you know I don't listen to you vad
[14:52] {Threei}  oh, right
[14:52] {Threei}  sorry
[14:52] {Les} right. looking for a date is he?
[14:52] {Threei}  pne more item for you to ignore then:
[14:52] {Threei}  [13:07] {Threei} - indirect bidders take 39.37% of competitive bids with 57.82% allotted at the high.
[14:52] {Threei}  [13:07] {Threei} - dealers take 57.5%, direct bidders take 3.17%
[14:52] {Threei}  [13:07] {Threei} - median -0.635%, Low -0.75%.
[14:52] {Les} sorry vad. must have been cooking
[14:52] {Les} is that good or bad? who are the indirect bidders?
[14:53] {Threei}  nemo knows
[14:53] {Threei}  I forget between his explanations
[14:53] {Les} yeh read it once. can no longer remember
[14:53] {Threei}  anyone remembers?
[14:54] {magoo} any good reports tonite?
[14:55] {RonS} txn
[14:55] {Threei}  AMGN,
[14:56] {strider} VRTX AMGN
[14:56] {Threei}  yeah
[14:56] {Les} http://www.reuters.com/article/idUSN2425368520090624
[14:57] {Les} seems Treasury fudge data to make indirect bidders - foreign investors - higher than is the actual case
[14:57] {Les} go figure
[15:04] {dino} same w/unemployment reports
[15:04] {dino} just about alwsays revise worse
[15:11] {strider} WFC jb
[15:13] {magoo} rimm vad'
[15:14] {Threei}  watching if gives a short formation
[15:15] {Les} damn HRBN .60 short was beautiful. call me chicken
[15:17] {Threei} Short Setup: RIMM  .20 half lot
[15:17] {Threei}  if stays under .35
[15:18] {Threei}  .25 better trigger
[15:18] {Threei}  invalidated anyway
[15:19] {dino} hrbn hl l .50
[15:22] {Les} tried .30 b/d following invalidation and got stopped
[15:24] {Les} .25 was a better trigger :)
[15:24] {magoo} RIMM news?
[15:24] {Threei}  nope
[15:28] {Les} u still looking for reversal setup vad or leaving it alone?
[15:29] {Threei}  I don't see any
[15:29] {Les} k
[15:36] {dino} hrbn stopped
[15:36] {strider} short SNDK .70
[15:41] {Threei} Short Setup: RIMM  .80 break half lot
[15:41] {strider} partial +.10
[15:42] {strider} parti +.15, sndk
[15:43] {Threei}  invalidated
[15:46] {jfjf64} lk a train
[15:46] {Les} almost going momo
[15:46] {jfjf64} rimm
[15:46] {jfjf64} .50
[15:48] {jfjf64} one more leg up
[15:48] {jfjf64} ??
[15:49] {magoo} yes
[15:49] {jfjf64} agree
[15:49] {strider} out sndk final +.20
[15:49] {magoo} RISKY
[15:49] {jfjf64} that was rince
[15:49] {magoo} spy dive
[15:49] {jfjf64} wow
[15:50] {Threei}  and no news
[15:50] {Les} markaet getting edgy
[15:55] {Les} s rimm .25 covered .01 +. 24
[15:55] {strider} X reports before open tomorrow
[15:55] {Les} didn't say a thing cause I know you don^t wanna follow me
[15:55] {Les} doesn't cover the earlier stop but a satisfactory day.
[15:55] {Les} night all c  u's tomorrow
[15:56] {magoo} bye
[15:56] {jfjf64} ciao les
[15:56] {strider} anybody else with sticking charts today?
[15:56] {strider} laser
[15:56] {Threei}  take care les
[15:56] {Threei}  fine here strider
[15:56] {strider} thx
[15:57] {strider} even spy sticking for me today.
[15:58] {Threei}  thank you all
[15:58] {Threei}  have a good evening, see you tomorrow
[15:58] {strider} thanks, vad
[15:59] {jfjf64} see ya 3i

Oct 22 2010

Narrow day with positive result, but no interesting charts.

Session Time: Fri Oct 22 00:00:00 2010

[08:40] {RonS} gm all...congratulations Vad:  http://tinyurl.com/2cbovsd
[08:45] {larisa} gm Ron :)
[08:47] {Les} :( only Ron
[08:47] {Les} ?
[08:50] {larisa} :)
[08:52] {Threei}  lol
[08:55] {RonS} ...always figured you was an international financier extraordinaire...;)
[08:55] {Threei}  yes... and then I wake up
[08:57] {RonS} ...and to think you are gracious enough to muck it up here with the hoi polloi...
[08:58] {Threei}  see? it has advantages... widening my vocabulary
[08:58] {dino} gm all
[08:58] {Threei}  dino :)
[08:59] {RonS} kind of an outrageous recovery for amzn...
[08:59] {Threei}  a few more years, and from "tree good, fire bad" I will frogress to "tree good, fire burn tree, ergo fire bad"
[09:03] {Les} cool I'm up and running again. someone let me in with a new account
[09:03] {ese} morning
[09:03] {Les} the FOOOLS!
[09:03] {Threei}  ese :)
[09:04] {Les} we're back baby!!
[09:04] {RonS} cmg is one hot burrito
[09:04] {ese} vad les dino ron laris
[09:06] {dino} :)
[09:06] {RonS} cmg = short indigestion...3.9 mil sh...ese que paso  :)
[09:09] {ese} ahhhhhhhhh
[09:09] {RonS} rvbd...something for everyone...beat & raise, stock split, upgrades, and 5.5 mil sh short
[09:09] {strider} morning all
[09:09] {ese} st
[09:11] {Threei}  strider :)
[09:11] {strider} DO upgrade
[09:11] {strider} L)
[09:11] {strider} :) also
[09:13] {Threei}  http://www.rasmussenreports.com/public_content/political_commentary/commentary_by_lawrence_kudlow/tim_geithner_dollar_protector
[09:20] {RonS} another pomo today...
[09:26] {ese} whoaaaaaa never glance at something quickly....take your time and look at it........for a second there i thought rons post said p o r n o day
[09:26] {jfjf64} mornin
[09:26] {ese} was thinking what have we got ourselves into
[09:26] {ese} I know we follow vad blindly into the abbyss but sheesh
[09:27] {ese} jf
[09:27] {jfjf64} ese
[09:28] {Threei}  jf ::)
[09:28] {Threei}  that's your dirty mind ese :)
[09:28] {jfjf64} 3i
[09:28] {ese} lol
[09:28] {jfjf64} great chart yest  blog
[09:29] {RonS} ese, http://www.newyorkfed.org/markets/tot_operation_schedule.html
[09:30] {RonS} gs is out publicly telling cusotmers to front run these operations
[09:30] {jfjf64} question   when i go to print out chart of daily catch    witch i save for referance  your comments dont come up on chart   anyway to put on chart   just thinkin
[09:31] {davd} gm all
[09:31] {jfjf64} david
[09:31] {Threei}  davd :)
[09:31] {khaln} gmorning
[09:32] {jfjf64} rons   that info ya shared yest  at close   was wild  with  amzn    need to o over more later pls
[09:32] {Threei}  khaln :)
[09:33] {Threei} Short Setup: LVS  .20 break
[09:34] {Threei}  stop above .30 for scalpers
[09:34] {Threei}  .35 for day traders
[09:36] {Threei}  grr... missed GS short on .20 break
[09:37] {jfjf64} crus
[09:38] {Threei}  no go LVS
[09:40] {jfjf64} any takers  crus
[09:41] {jfjf64} aapl
[09:41] {dino} not yet
[09:41] {jfjf64} here
[09:41] {dino} skx l .51
[09:42] {Threei} Short Setup: GLD  .55 break
[09:42] {Threei}  .65 stop
[09:42] {Threei}  1:1
[09:43] {Threei} Long Setup:  RIMM  .65 break half lot
[09:45] {Threei}  .55 RIMM stop for scalpers
[09:45] {Threei}  under .50 day traders
[09:46] {davd} gold inval?
[09:47] {ese} dino....algn
[09:47] {Threei}  hmm?
[09:47] {ese} dn 3 beans on relatively decent news
[09:47] {Threei}  it triggered and reached 1:1
[09:47] {dino} on it
[09:48] {dino} lowered guidance
[09:48] {ese} ahhhhhhh tks missed that
[09:48] {Threei}  invalidation is going over stop limit BEFORE triggering
[09:48] {Threei}  as RIMM just dod for scalpers
[09:48] {Threei}  for
[09:48] {davd} ii
[09:49] {Les} x looking short vad
[09:50] {Les} but market showing upward bias
[09:51] {Threei} Long Setup:  GS  .10 half lot
[09:51] {Threei}  if stays above .90
[09:52] {Threei}  invalidated
[09:53] {Threei} Long Setup:  X  .15
[09:53] {Threei}  half lot
[09:53] {Threei}  RITT Thin microcaps run up on no news; Chat boards targeting low float stocks after the run up in LIVE yesterday
[09:54] {Threei}  - RITT +144%
[09:54] {Threei}  - ALAN +19%
[09:54] {Threei}  - MTSL +140%
[09:54] {Threei}  - LIVE, after rising 200% yesterday is down 30% today
[09:54] {dino} sndk sm l .00 stop lod
[09:55] {Les} PM miners selling off GDX under 54
[09:55] {Threei}  X invalidated
[09:55] {Threei}  davd... see what invalidation is?
[09:56] {davd} ii - will do - i hadn't gotten in so i interpretted loosely, i will read again, thanks
[09:56] {Les} x was short. market helped it nicely
[09:58] {jfjf64} bidu
[09:58] {jfjf64} .25
[09:59] {Les} wondering if GDX bounce here is offering short opp vad? u read it?
[09:59] {Les} miners are weaker than the index today
[10:00] {Threei}  by just following the market, yes
[10:00] {Threei}  by its own setup, no
[10:00] {Les} ok
[10:00] {RonS} anything w/ aig 3i?
[10:01] {Threei}  should be long in it somewhere when market stabilizes
[10:02] {Threei}  RIMM
[10:03] {Threei}  .10 is strong support
[10:03] {Threei}  if drops under .20 will become interesting
[10:04] {dino} crus l .15
[10:05] {Threei} Short Setup: GS  .50 break half lot
[10:06] {davd} in crus .14
[10:06] {Threei}  stop above .65
[10:07] {dino} sndk stopped -.33
[10:07] {Threei}  grr
[10:08] {davd} sndk stopped
[10:10] {Les} market sees our hand and rinses it
[10:11] {dino}  crus stopped -.10
[10:11] {Threei}  rinse GS
[10:16] {Threei} Long Setup:  GS  .10 break
[10:16] {Threei}  half lot, and stop is very clear
[10:17] {dino} itw hl l .52
[10:17] {Threei}  invalidated
[10:19] {dino} skx to .83
[10:20] {Threei} Short Setup: X  .85 break
[10:20] {davd} in itw .52 small
[10:20] {Threei}  .95 stop for scalpers, 42 for day traders
[10:21] {ese} wit dino?
[10:21] {Threei}  scalpers 1:1
[10:21] {Threei}  day traders 1:1
[10:23] {dino} out skx .86, +.35
[10:23] {dino} wit, hmmm
[10:24] {dino} wit .19 range strange
[10:26] {davd} stop on itw dino?
[10:26] {dino} .39 not working
[10:27] {jfjf64} yhoo
[10:27] {jfjf64} watchin.25
[10:27] {jfjf64} break
[10:27] {jfjf64} 5 min chart
[10:27] {dino} crus rinsed
[10:28] {Threei}  jf, chart looks right but don't count on much fast
[10:28] {Threei}  rather count on a little and slowly :)
[10:29] {jfjf64} hey  little and slowly
[10:29] {jfjf64} dont be wise guy
[10:29] {Threei}  thank you, that's a relief
[10:30] {jfjf64} lol
[10:30] {Threei}  anything witrh "wise" in it is tough for me to do
[10:30] {khaln} bud wiser
[10:30] {jfjf64} you never answered me on  chart from the blog i sent at open
[10:31] {Threei}  hmm?
[10:31] {Threei}  sorry, must have missed it
[10:31] {Threei}  could you repeat?
[10:31] {dino} crus l .14 last try
[10:31] {jfjf64} anyway for you to put  ya comments on chart of day somehow
[10:31] {jfjf64} when i print out
[10:32] {jfjf64} dont see ya comments on setup
[10:32] {jfjf64} ect
[10:32] {Threei}  comments are right above the chart
[10:32] {Threei}  in blue
[10:32] {jfjf64} just makes me print out chart
[10:32] {jfjf64} not  what ya have highlited
[10:32] {jfjf64} follow
[10:33] {Threei}  image popup is different page
[10:33] {Threei}  can't combine them, and if I put text on the chart it will be unreadable
[10:33] {jfjf64} k
[10:33] {Threei}  what I want to do next year though is:
[10:34] {Threei}  when I have 100-150 of them,
[10:34] {Threei}  breakd thenm down by groups
[10:34] {Threei}  and make a video with screenshots and voice comments
[10:34] {jfjf64} nice idea
[10:34] {larisa} good idea
[10:34] {ese} l algn.00
[10:34] {jfjf64} i print out everyday
[10:34] {Threei}  kind of what scaling video course shows, but not real time
[10:34] {jfjf64} priceless
[10:35] {ese} make that .01
[10:35] {jfjf64} keep
[10:35] {jfjf64} lookinat
[10:35] {Threei}  figured, there is so much material that will just disappear in the depth of the blog,
[10:35] {Threei}  it would be useful to oput it together
[10:35] {jfjf64} 100%
[10:36] {jfjf64} doesnt get any realer
[10:36] {Les} I like not having to read it
[10:36] {Les} vad can talk to me
[10:36] {Threei}  realer... my kind of languege
[10:36] {jfjf64} ??
[10:36] {Les} point it out to me
[10:36] {Les} spoon feed me
[10:36] {Les} but don't make me read
[10:36] {Les} heck forget the videos
[10:36] {jfjf64} realer whats da problem
[10:37] {Les} I just wanna be spoon fed
[10:37] {larisa} vad will crash your teeth with a spoon, be sure of that :)
[10:37] {Les} vad s X .75
[10:37] {Les} small shares, looking for retest of yesterdays low
[10:37] {Les} u gotta read?
[10:38] {Les} thanks lari :)
[10:38] {larisa} :)
[10:38] {jfjf64} stp
[10:38] {jfjf64} 5 min chart
[10:38] {Threei}  toughie les
[10:38] {jfjf64} watch
[10:38] {Les} thinking maybe db here...
[10:38] {jfjf64} in
[10:39] {jfjf64} stop.69
[10:39] {dino} crus to b/e
[10:42] {jfjf64} bp
[10:42] {jfjf64} breakdn
[10:42] {jfjf64} ??
[10:43] {ese} L colm .71
[10:44] {dino} itw stopped -.13
[10:44] {ese} sm on colm 300
[10:45] {dino} l?
[10:46] {jfjf64} hmm
[10:46] {ese} L
[10:46] {jfjf64} look yhoo
[10:46] {Threei}  yup... slwoly gave 8 cents
[10:46] {Threei}  just as told
[10:47] {jfjf64} set up again
[10:47] {davd} stopped itw
[10:47] {jfjf64} imo
[10:48] {khaln} bjri ?
[10:49] {jfjf64} nope
[10:49] {Threei}  very thin one khaln, incredibly risky
[10:49] {khaln} thx
[10:51] {jfjf64} apc
[10:51] {jfjf64} movin today
[10:52] {jfjf64} fe
[10:52] {dino} colm sm l .67 spready
[10:52] {jfjf64} bounce
[10:52] {jfjf64} ??
[10:52] {ese} algn out 1/2 .11 +.11
[10:52] {ese} stop to break evn balance
[10:53] {jfjf64} .90
[10:53] {Threei}  hmmm
[10:53] {Threei}  FE
[10:53] {jfjf64} hold.80
[10:53] {Threei}  don't see any nedws
[10:53] {Les} I'm in!
[10:53] {strider} nothing here
[10:53] {ese} ya real spready dino......driving me crazy ....pushing the boundaries of my comfort level
[10:53] {Les} c u's for close. Aikido time
[10:54] {ese} but it's put in a higher low so should be ok
[10:54] {ese} cya les
[10:54] {dino} jumps around a bit, but feels up
[10:54] {RonS} say hi to your dog Les...
[10:54] {Les} you mean the missus Ron?
[10:55] {RonS} aikido
[10:55] {dino} out crus .26, +.14
[10:55] {ese} ya
[10:55] {dino} opps +.12
[10:56] {Threei} Long Setup:  FS  .80 break
[10:56] {Threei}  nah, invalidated
[10:56] {strider} fe?
[10:56] {Threei}  yeah
[10:56] {Threei}  invalidated abyway, lol
[10:56] {Threei}  but watching
[10:56] {strider} close enough for govt work
[10:57] {ese} algn balance stopped even.00 1k/1k
[10:57] {Threei}  no single green bar from 10:30
[10:57] {strider} gonna go ahead and put in a bid at $1.00
[10:57] {Threei}  ok
[10:57] {Threei}  .70 long if holding .55
[10:58] {strider} now?
[10:58] {Threei}  half lot
[10:58] {Threei}  not a scalp
[10:58] {Threei}  half out
[10:59] {Threei}  1/4 more offer .95 - .97
[10:59] {Threei}  stop to .65
[11:02] {Threei}  hit
[11:02] {dino} cyt
[11:02] {Threei}  stop to .70
[11:03] {dino} leg
[11:03] {Threei}  offer last piece 38.10 or so
[11:03] {Threei}  finally hooked a decent one
[11:04] {strider} and I missed it
[11:04] {Threei}  gave two entry chances
[11:04] {ese} have been lookin at both of those
[11:04] {ese} cyt leg
[11:06] {dino} cyt sm l .30
[11:07] {strider} short FE .85
[11:09] {dino} out cyt ,88, +.58
[11:12] {larisa} gj
[11:13] {Threei}  beautiful
[11:14] {Threei}  (US) Reportedly WTO panel rejects most of China's claims in dispute over US duties (update)
[11:14] {Threei}  - US Trade Rep (USTR) Kirk comments that panel ruling allows US to go forward with duties on China pipe imports.
[11:14] {Threei}  - REMINDER: On 9/13, US Commerce Dept sets final anti-dumping duty on stainless steel pipe from China of 49-99%. On 09/27, US Commerce Dept set final duties on copper pipe imports from China at 11.2-60.9%.
[11:15] {ese} nice dino
[11:15] {ese} colm is driving me nuts
[11:16] {dino} ty
[11:16] {dino} cyt dropped a buck
[11:19] {ese} what do you make of this colm.....it's hovering doing zip
[11:19] {strider} cover FE +.20
[11:20] {RonS} colm...trades by appt...portland or co...noone cares
[11:20] {dino} dk es, dk
[11:20] {dino} hl l itw .15, stop .97
[11:20] {ese} ahhhhhhh.......ya ahhhhhhhh sure
[11:21] {dino} cyt getting interesting again
[11:21] {ese} wtf does that!!!! mean
[11:21] {dino} dk=don't know
[11:21] {ese} lol
[11:23] {ese} what was that stock you and i were in the other day.......as soon as we flippin jetisoned it......it shot up a buck and a half............sure as H thats whats gonna happen.......
[11:24] {dino} i forget, but that happens alot to me
[11:25] {kowboy} FE ss .40?
[11:25] {Threei}  hard to tell
[11:25] {kowboy} ty
[11:25] {Threei}  can go either way here
[11:25] {Threei}  and violently
[11:25] {ese} ahhhh see here it goes.....just as i was thinkin about it
[11:26] {Threei}  50/50
[11:28] {Threei}  would have killed you
[11:28] {kowboy} yep thanks
[11:29] {ese} colm does fit your criteria of sm shs.....so when it takes off...if it takes off it should pop right up there
[11:30] {dino} cyt sm l .00
[11:31] {ese} L cyt .05
[11:32] {ese} out .20 +.15
[11:32] {ese} tks dino
[11:33] {dino} gj
[11:33] {ese} now thats mor like it.......in   pause out.......done!
[11:34] {dino} indeed
[11:34] {ese} out colm .99 +.28
[11:35] {dino} it's going higher
[11:36] {ese} i'm sure.......but i've got to get use to your style of holding onto these types....just not there yet
[11:37] {RonS} cmg...the $200 burrito
[11:37] {RonS} mags coulda played it
[11:38] {ese} too funny
[11:39] {magoo} i saw that remark lol
[11:39] {RonS} everyone been to cmg?  the burritos are good but absolute gut bombs
[11:39] {ese} still sittin in the dinner thinkin about quitting
[11:39] {RonS} who mags?
[11:40] {dino} lol es'
[11:40] {magoo} no i went to graduation and have been reassigned
[11:40] {RonS} i think it was the diner tho
[11:42] {ese} youzzze isssaaaa correctta
[11:43] {magoo} hey vad, whats the short of TNA? TZA
[11:43] {RonS} jus thinkin og mags sitting in a big dinner a la Alice in Wonderland...
[11:43] {RonS} of
[11:44] {Threei}  yes mags
[11:45] {RonS} ree ripping....co is not the korean maker of Lee jeans...
[11:46] {magoo} ty vads
[11:46] {ese} huh.........well then i sure been misled
[11:46] {magoo} REE a crazy one
[11:48] {dino} lol'
[11:53] {khaln} .
[11:53] {Threei}  NY Fed: Purchased $2.49B in outright coupon purchase; dealers submitted $24.8B for consideration (bid to cover 9.9) (update)
[11:53] {Threei}  - Heaviest purchase $1.27B in the 04/15/13 maturity (nearest dated)
[11:53] {Threei}  - Avg bid to cover over prior four auctions is: 6.3
[11:56] {Threei}  (US) Fed's Fisher: Policymakers must remain aware of the impact of their policies on the USD
[11:56] {Threei}  - Targeting price levels would be confusing.
[11:56] {Threei}  - Perceptions about long-term health affect the USD.
[12:05] {dino} itw to .44
[12:07] {magoo} RIMM looks short
[12:14] {dino} out itw .49, +.34
[12:15] {dino} cyt db?
[12:15] {RonS} cyt looking to take out lod
[12:15] {Threei}  why, why am I watching TV
[12:16] {RonS} u luv the O?
[12:17] {Threei}  lol
[12:17] {Threei}  a woman sends a soundbite
[12:17] {Threei}  saying:
[12:17] {dino} good call ron
[12:17] {Threei}  I am proud of america,
[12:18] {Threei}  I cried tears of happiness when a black man was elcted a presidemt, and I hope to see a woman, an asian man, a jewish man, a muslim, a gay among next presidents
[12:18] {dino} apol dropping
[12:18] {Threei}  I listen to this and think:
[12:18] {Threei}  how the hell is it possigble that you never mention one little thing:
[12:18] {Threei}  COMPETENT TO GOVERN!
[12:19] {larisa} do not call O names!
[12:19] {Threei}  lol
[12:19] {Threei}  all that is all that matters to her
[12:19] {RonS} ...for libs it's all about the feerings...no logic needed
[12:20] {Threei}  now, who is rasist here, me who doesn't care about president skin color and only wants him/her to be competent
[12:20] {Threei}  or this idiot who wants to see politically correct skin color as defining quality iof the next president?
[12:20] {Threei}  f**k...
[12:20] {Threei}  and jf asks why I like cats??
[12:20] {Threei}  this is why!
[12:20] {dino} roflol
[12:21] {RonS} ya, they are equal opportunity prejudiced
[12:21] {Threei}  there you go
[12:21] {RonS} they only like people who are allergic to them
[12:22] {Threei}  the % of imbeciles...
[12:23] {Threei}  I don't know how we humans survived if our intellect is supposed to be our advantage... darwin must be wrong
[12:24] {Threei}  ONTY Strength attributed to positive speculation about prospects for its Stimuvax lung cancer drug
[12:26] {RonS} indoctrination 3i, they captured the schools 40 years ago...koolaid drinkers who love living on the plantation.  It has always amazed me how the haves can and do convince the have nots  to act aginst their own best interest...
[12:27] {Threei}  see? can't indoctrinate cats
[12:28] {Threei}  APOL...
[12:28] {Threei}  15 min ago:
[12:28] {Threei}  APOL Discloses Florida has started investigation into unfair and deceptive trade practices - filing
[12:35] {Threei}  narrow day
[12:38] {dino} cyt sm l .25
[12:42] {RonS} not a Weekend at Bernie's:  http://tinyurl.com/39m3f5w
[12:43] {magoo} FCX dive
[12:43] {dino} out colm .27, +.60 ty es
[12:46] {ese} yw
[12:47] {ese} just as i was about to buy cyt.......sacre bleu.........it shoots up
[12:47] {davd} missed cyt too
[12:47] {dino} lol was laying out, spiked dropped
[12:55] {Threei}  ARNA Trades higher ahead of FDA decision on Lorcaserin weight management drug
[12:55] {Threei}  Today is the FDA PDUFA action date on the drug.
[12:55] {Threei}  - ARNA tumbled in mid-Sept after an FDA advisory panel voted 9-5 to against recommending approval of Lorcaserin. Strength today partly attributed to an FDA communication disclosed today that the agency "regrets" not including a toxicity expert on the FDA advisory panel on 9/16.
[13:03] {Threei}  TNA sharp dive
[13:05] {Threei}  FE Hearing Citigroup attributes weakness in utility sector to disappointing results in an Ohio Public Utilities Commission procurement auction (update)
[13:06] {Les} howzit goin?
[13:07] {Threei}  got nice FE trade rifght after you left
[13:07] {Threei}  that's about it
[13:07] {Les} yeh just looking at index
[13:07] {Les} where u take FE?
[13:08] {Threei}  .70 to .97
[13:08] {Les} just before 11?
[13:10] {Threei}  yup
[13:10] {Threei}  [10:57] {Alert} Threei ok
[13:10] {Threei}  [10:57] {Alert} Threei .70 long if holding .55
[13:10] {Les} nice bounce catch
[13:10] {dino} cyt stopped -.27
[13:14] {magoo} fcx read VAD?
[13:14] {dino} sndk l .92
[13:15] {Threei}  none
[13:15] {Threei}  probably more downside
[13:15] {Threei}  but no firm read
[13:20] {dino} stop to .04 sndk
[13:20] {dino} out +.12
[13:22] {dino} colm hl l .22 stop .97
[13:30] {dino} cyt sm l .00
[13:32] {Threei}  TNA
[13:32] {Threei}  .50 break for a scalp
[13:34] {strider} long or short call?
[13:34] {Threei}  quoted .48 x 49 at the moment of the call??
[13:34] {Threei}  take scalp here
[13:34] {strider} sorry.  wasn't looking at it the moment of the call. :)
[13:35] {Threei}  (US) Fed's Plosser; deflation not a serious threat, hopeful could eliminate the Fed's purchasing of private assets (related XLF TLT SHY IEF )
[13:35] {Threei}  hmmm
[13:35] {Threei}  this is biggie if true
[13:37] {Threei}  - Notes that the BAC issue on put back assets demonstrates the problem with purchasing private assets
[13:37] {Threei}  - Sees an issue on triming interest on excess reserve as it may distort short term funding markets
[13:41] {ese} L alks..95
[13:43] {ese} nahhhhhhhh out even......molassas .95 +/- .00
[13:44] {kowboy}  dino stop on cyt?
[13:45] {Threei}  (US) SEC reportedly will look to implement flash crash rules in December or later (related ITG GS )
[13:45] {Threei}  what's their hurry
[13:55] {Threei}  VHC Strength attributed to rumors that VirnetX could reach a patent settlement with Apple and Cisco
[13:55] {Threei}  - REMINDER: in May, VHC got a $200M payment in a settlement and license agreement with Microsoft.
[13:55] {dino} colm stopped
[13:55] {ese} gotta hit the trail for the day.....have a great weekend all
[13:56] {Threei}  take care ese
[13:56] {Threei}  sun is out
[13:56] {dino} cya es
[13:56] {RonS} take care ese
[13:57] {Les} TZA vad, u interested?
[13:59] {Les} looking like c&h
[14:00] {Threei}  direction wise, yes
[14:01] {Threei}  but size of the market move needs to be pretty substantial for TZA to yield something worthy
[14:01] {RonS} illiberal liberals are running amok:  http://tinyurl.com/2dnzqfo
[14:03] {Les} I c a nice payout coming for the guy Ron
[14:04] {RonS} dunno, he is a union guy working on a union job and they sent him home. if he sues and does not win he will never work again.
[14:07] {RonS} ...can the guy walk and chew gum at the same time?: http://tinyurl.com/258bzdw
[14:09] {Threei}  I don't get it
[14:10] {Threei}  whatever I think of him, and I don't think much positive - I can't deny that he is a good orator
[14:10] {Threei}  why does he need this thing all the time?
[14:10] {RonS} Pbama will be the first to use a teleprompter in the Indian Parliament in an address scheduled for (i think) next month
[14:10] {RonS} Obama
[14:11] {Threei}  especially as it becomes so widely citicized and he gets nicknamed as teleprompter president
[14:11] {dino} ego
[14:11] {Les} naaah
[14:11] {Les} spin doctor mentoring
[14:11] {Les} image control
[14:12] {Les} my opinion
[14:12] {dino} crus l .10
[14:12] {Les} vad fcx read?
[14:15] {Threei}  it doesn't have any form
[14:15] {Threei}  shape
[14:15] {Threei}  rhythm
[14:15] {Threei}  rhyme
[14:16] {Threei}  (FR) Senate final vote approves pension reform legislation; retirement age moves to 62 from 60 (related EUR/GBP EUR/USD TOT )
[14:16] {KSystems} hey..
[14:16] {Threei}  ks :)
[14:27] {dino} stop cyt -.15
[14:29] {dino} sndk l .67
[14:34] {davd} in sndk .67
[14:35] {Threei}  look at TNA
[14:35] {Threei}  what weird spikes
[14:35] {Threei}  bounce candidate actually
[14:35] {magoo} i saw .81 on it
[14:37] {Threei}  took 10 cents
[14:37] {Threei}  shrug
[14:37] {Threei}  idiotic trade but easy
[14:40] {magoo} bidu going for high
[14:40] {larisa} took TNA for scalp when it dropped into .50s ?
[14:42] {magoo} CMG hiogh
[14:43] {Threei}  yes larisa
[14:43] {larisa} and why you call it idiotic :) short term uptrend,  pullback right into support.. perfect setup in my book :)
[14:44] {Threei}  well
[14:44] {Threei}  mostly because there was no trigger to it
[14:45] {Threei}  i am rarely enthusiastic about trades with missing component
[14:46] {Les} vad IBM b/d?
[14:46] {Les} .75?
[14:46] {Threei}  if market dowticks, yes
[14:47] {Threei}  and if stays under .85
[14:50] {nemo} How's the day going folks?
[14:50] {Threei}  not bad.. not stellar
[14:50] {nemo} well, if I had been here.....
[14:50] {nemo} ;)
[14:50] {Les} I'd have quit
[14:51] {nemo} Oh, my fondest wish
[14:51] {dino} lol
[14:51] {Les} well at least I'm trading now
[14:51] {jfjf64} nemo  what up
[14:51] {nemo} touche
[14:51] {nemo} sittin' here, thumb up my ass, waiting
[14:52] {jfjf64} ??
[14:53] {Les} missed IBM
[14:54] {dino} sndk stopped
[14:55] {Threei}  second chance came for you les, and worked
[14:57] {Les} yeh, then I realised I didn't have buying power to make 1:1 interesting for me
[14:58] {Les} so I'll go back to sleep
[14:58] {Les} x looking breaky. U got a read vad?
[14:59] {Threei}  market is locked
[14:59] {Threei}  i don't want to play breaks
[14:59] {Les} ok
[14:59] {Les} so I'll go back to sleep
[14:59] {Les} again
[14:59] {khaln} zzzzzzz
[15:00] {Threei}  4 points SP whole day
[15:00] {Threei}  lucky we found what we found
[15:03] {Threei}  wow
[15:03] {Threei}  fatal shark attack in Santa barbara
[15:05] {RonS} surfer?
[15:06] {Threei}  yes
[15:07] {Les} well surfers like getting close to mother nature..
[15:07] {davd} google security breach, email and passwords leaked
[15:07] {RonS} firend of mine had his board chomped and leg cut years back.  Sherk activity picked up in the area when they protected the sea otter and the population exploded.
[15:09] {Threei}  their problem is, they look too much lkike seals from beneath
[15:10] {magoo} look TNA
[15:12] {Threei}  let it drop to about .60 and look for entry for bounce
[15:13] {magoo} can't make me lol
[15:13] {Threei}  lol
[15:15] {Threei}  in
[15:16] {Threei}  .55 stop
[15:17] {Threei}  tried .72 for out
[15:17] {Threei}  missed by 1 cent, lol
[15:19] {Threei}  out
[15:20] {Threei}  eod breadcrumbs picking
[15:20] {Les} steak vad, we need steak
[15:20] {Threei}  not on menu today
[15:21] {Les} I wanna speak to the manager
[15:21] {khaln} happy meal
[15:21] {magoo} "let them eat cake"
[15:23] {Threei}  les reminded me...
[15:24] {Threei}  customer in the diner expresses extreme dissatosfaction and demands a manager
[15:24] {Threei}  manager comes out and asks: what is it you are unhappy about?
[15:24] {Threei}  customers says Everything!!
[15:25] {Threei}  manager: I understand, and even share... but why have you decided to start with my diner?
[15:25] {Les} speaking of crumbs....
[15:26] {Threei}  sigh
[15:26] {Les} I'm sure I said something about keeping yer day job :)
[15:26] {dino} whats the soup du jour? i don't know but they have it every day
[15:26] {RonS} ...but he kinda looks like Rodney Dangerfield...:)
[15:27] {Les} you guys need a drink
[15:28] {khaln} &smoke
[15:28] {dino} perhaps
[15:29] {Les} a drink to lose these corny one liners dino...
[15:29] {Les} just found a glass of Lagavulin to finish the evening
[15:30] {dino} waitress asked if i wanted to box my leftovers. i said i'd rather wrestle for them
[15:30] {Les} alright, that was a little  bit funny
[15:30] {Les} LVS vad. u got a read?
[15:30] {Threei}  hey, with each next glass les finds our jokes funnier ad funnier
[15:31] {dino} lol
[15:31] {Les} yeh funny that
[15:31] {Les} .70 b/d?
[15:31] {Threei}  LVS, rather down
[15:31] {Threei}  but again.. market is still locked
[15:31] {Threei}  and having G20 weekend, most likely will end this way
[15:32] {Threei}  with slight chance of downbreak
[15:32] {Threei}  or breakdown
[15:32] {dino} out crus +.06
[15:32] {Les} were you a weather forecaster in another life vad?
[15:32] {Threei}  NPR are idiotas
[15:32] {RonS} lol Les...thinkin the same...
[15:33] {Threei}  oh boy.. it's contagious
[15:33] {Threei}  we need to isolate les
[15:33] {Les} NO
[15:33] {Les} we need Nemo
[15:33] {Threei}  what no... you already got ron
[15:33] {Les} to get this party going again
[15:34] {RonS} we need nemo trading...
[15:34] {magoo} .
[15:34] {magoo} am i here?
[15:34] {Les} ah a fellow existentialist
[15:34] {Threei}  I don't know mags... les looms too large
[15:34] {Threei}  can't see anyone else
[15:35] {magoo} my internt was ouit fot ten mins
[15:39] {dino} back in ten
[15:39] {Threei}  just found out, Laser has alerts on stock reaching certain price levels
[15:40] {Threei}  who needs them... in Modules section
[15:42] {magoo} BIDUUUUUUUUUUUU
[15:43] {Les} bounced off vwap mags
[15:43] {Les} ran straight thru all MA support. could drop further
[15:44] {magoo} dunno, seems worse
[15:45] {Les} unless you grabbed the reversal?
[15:45] {magoo} i caught the shoret, loss of ,50 to .93
[15:45] {magoo} out
[15:48] {magoo} reversal was good idea, u try it
[15:49] {Les} no
[15:56] {Les} will be some time before I have confidence to engage snap reversals like that
[15:57] {Threei}  (CH) China to eliminate tax breaks for foreign firms, effective Dec 1 - Nikkei News
[15:57] {Threei}  China's State Council has notified foreign-owned companies that they will have to pay city maintenance and education taxes, just like Chinese firms, starting Dec. 1.
[15:57] {Threei}  - China has been gradually consolidating its two sets of tax rules -- one for foreign firms and the other for domestic ones -- since it stepped up market reforms in 1994.
[15:57] {Threei}  - Rates for city maintenance and construction taxes range from 7% for the biggest municipalities to 5% for midsize ones and 1% for the smallest. The education tax takes a flat 3%. They are both assessed on the sum a company pays in other corporate taxes. After the exemptions end, foreign firms located in big cities will see a 10% increase in their total tax payment.
[15:58] {Les} time for foreign corporations to leave China, is that what govt. is saying?
[16:01] {Threei}  thank you all
[16:01] {Threei}  have a good weekend
[16:01] {Les} cheers you to
[16:01] {Threei}  see you on Monday
[16:01] {magoo} i caught vtha6t sh
[16:01] {magoo} from .90 to .30 les
[16:01] {magoo} could not type
[16:01] {Les} yeh it played nicely didn't it
[16:02] {magoo} see, it felt like something was wrong
[16:02] {magoo} if more time i think it would have crashed
[16:02] {Les} c ay
[16:02] {Les} ya
[16:05] {magoo} take care

Oct 21 2010

Let's discuss the methods of bottom fishing once again. TNA chart shows two long entries of counter-trend kind. Interestingly enough, both trades have exact same structure - 51.70 break for a long trigger with stop under 51.60. The setups, however, are different. First entry is pure "capitulation" play. Sharp drop with volume spike indicates selling exhaustion, and exact entry is being determined by a)volume drop-off on the last red bar or two and b)little pause, couple quick moves between the support .60 and resistance .70, thus giving us the structure for the setup. TNA went to 1:3 r/r, then mercifully returned to re-test the support and give us second play. This time around it was double bottom setup confirmed by lower volume on the second low. We went with aggressive entry. In total deja vu, .70 break, stop under .60 and 1:3 r/r once again.

Notice one similarity in both entries, and keep in mind that this is extremely important one. We do not try to catch the bottom on the "left" side of the V-shaped bottom. We are trying to get in on the "right" side, AFTER the actual reversal. Details of each setup are different but this part is the same: entering on the "left" side is merely guessing, "right" side gives you some indications to build the structure of the trade. Sure, you will miss exact bottom but good luck to whoever tries to catch those.


Later on we played TNA once more off 50 for 50+ cents. All in all, pretty nice day.

Session Time: Thu Oct 21 00:00:00 2010
[08:25] {Threei}  MNTA Pre-market strength being attributed to stong enoxaparin sales for Novartis Sandoz unit
[08:31] {Threei}  (KS) Reportedly Consensus on currency statement at upcoming G20 Finance Min meeting not assured; Issue might be left for official summit on Nov 11-12th period i
[08:31] {Threei}  *(US) INITIAL JOBLESS CLAIMS: 452K V 455KE; CONTINUING CLAIMS: 4.441M V 4.420ME (related SHY SPY EUR/USD USD/JPY USO RTH )
[08:33] {Threei}  Prior Initial Jobless Claims revised higher from 462K to 475K
[08:33] {Threei}  - Prior Continuing Claims revised higher from 4.399M prior to 4.45M
[08:35] {Threei}  who said this one won't be revised too?
[08:53] {davd} morning threei
[08:53] {Threei}  davd :)
[08:54] {RonS} g'day all
[08:54] {Threei}  ron :)
[08:55] {RonS} crus (hed)
[08:56] {magoo} morning
[08:56] {magoo} cant believe ths mkt
[08:56] {Threei}  mags :)
[08:56] {dino} gm all
[08:56] {Threei}  dino :)
[08:56] {Threei}  CRUS Reports Q2 $0.42 v $0.42e, R $100.6M v $102Me
[08:56] {Threei}  Guides Q2 Rev $88-94M v $99Me
[08:56] {Threei}  - Guides Q2 gross margin: 54-56%
[08:59] {dino} plce lowers
[09:00] {ese} morning
[09:00] {Threei}  ese :)
[09:00] {ese} vad dino ron mags
[09:01] {RonS} scss   6.2 mil sh short...8.6 days to cover ave daily vol
[09:02] {Les} afternoon all
[09:03] {Threei}  les :)
[09:04] {strider} morning
[09:05] {Threei}  strider :)
[09:05] {strider} :)
[09:05] {strider} CRME
[09:05] {strider} LUV
[09:06] {strider} PLCE
[09:06] {magoo} amzn bidu report after close
[09:06] {strider} tex
[09:07] {RonS} for me is all about the haypenny: euro recaptures and holds above 1.40 = mkt up...euro falls below and stays below 1.395 = mkt selloff
[09:08] {Threei}  yup
[09:08] {Threei}  currency war became major market factor
[09:09] {magoo} fcx report this morn anyone
[09:09] {dino} china growth of 9.6% doesn't hurt
[09:09] {nemo} up 2.40 mags
[09:09] {Threei}  FCX Reports Q3 $2.49 v $2.25e, R$5.15B v $4.7Be
[09:09] {Threei}  Guides FY10 production 3.85B lbs of copper, 1.9M ounces of Gold, 65M lbs of molybdenum (prior 3.8B lbs Copper, 1.8M oz gold, Raises molybdenum production 63M lbs on 21st Jul)
[09:09] {Threei}  FCX Increases dividend 66% to $0.50 from $0.30
[09:10] {Les} how's fcx looking premarket?
[09:10] {strider} up 2$
[09:10] {Les} k ty
[09:12] {ese} xing......
[09:14] {RonS} lol t makes $5 bil...sells off
[09:17] {strider} plce
[09:24] {dino} lowers guidance
[09:24] {khaln} g morning
[09:24] {Threei}  below the baseboard, judging by reaction
[09:24] {ese} k
[09:24] {Threei}  khaln :)
[09:26] {lilyd} good morning
[09:26] {larisa} gm :)
[09:27] {Threei}  lily, larisa :)
[09:31] {Threei}  watchning FCX for pullback entry
[09:32] {dino} jcg more blood
[09:33] {Threei}  99 break
[09:33] {Threei}  ugh
[09:33] {Threei}  too fast
[09:33] {Threei}  no chance for entry
[09:33] {Threei}  worked like charm
[09:34] {kowboy} nflx drop
[09:34] {Threei}  this one is beyond any reasonable means of risk control
[09:34] {Threei}  NXLX I mean
[09:34] {Threei}  NFLX
[09:34] {kowboy} ty yes
[09:34] {kowboy} gambling
[09:35] {Threei} Short Setup: RIMM  .40 break
[09:35] {Threei}  half lot
[09:36] {magoo} in
[09:36] {Threei}  1:1
[09:38] {Threei} Long Setup:  FCX  .40 break smaller shares
[09:38] {Threei}  invalidated
[09:40] {Threei}  let it drop under 98
[09:40] {Threei}  then will reevaluate
[09:40] {jfjf64} mornin
[09:40] {Threei}  jf :)
[09:40] {Threei}  if doesn't go there oh well
[09:40] {Threei}  FNMA FHFA: Fannie and Freddie will need $221-363B in Treasury funding through 2013 (update)
[09:41] {Threei}  - Fannie and Freddie have drawn $148B since going into govt conservatorship. Funding draw from Treasury through 2013 will be $142-259B if dividend payments to the Treasury are excluded.
[09:41] {Threei}  wow
[09:41] {dino} yeah
[09:42] {magoo} cov rimm here .26 ty
[09:42] {dino} dji, s/p mon gaps filled, ndx 2104 still open
[09:42] {ese} out fitb .62 +.41 on 8k
[09:42] {Threei}  welcome
[09:42] {Threei}  wow ese
[09:43] {dino} nice
[09:43] {ese} slowly got into this starting last week
[09:43] {Threei}  slowly eh
[09:43] {Threei}  I am scared to think of your "fast"
[09:43] {Threei}  (EU) Preview: Euro Zone Oct Consumer Confidence due out at 10:00ET (15:00 GMT)
[09:43] {Threei}  (US) Preview: Oct Philadelphia Fed Index due out at 10:00ET
[09:43] {Threei}  (US) Preview: Sept Leading Indicators due out at 10:00ET
[09:43] {ese} i may have made a mistake getting out here though
[09:44] {RonS} "if you want perfection you will not find it in the market"
[09:44] {jfjf64} aapl
[09:44] {jfjf64} grr
[09:44] {jfjf64} missed
[09:46] {Threei} Long Setup:  LVS  39 break
[09:47] {Threei} Short Setup: LVS  .90 break
[09:47] {nemo} bidu interestiong
[09:48] {Threei}  FCX
[09:48] {Threei}  back to suppport
[09:48] {Les} yeh. db?
[09:49] {Threei}  yes but it jumps in such wide ranges that getting exact entry is possible for a fast trader, not for a call
[09:51] {Threei}  LVS touched 1:1, let's trail to above .95
[09:51] {Threei}  GCX, not a long anymore
[09:51] {Threei}  GCX
[09:51] {Threei}  FCX
[09:51] {Threei}  sigh
[09:51] {jfjf64} lol
[09:51] {Threei}  98 is short trigger now
[09:52] {magoo} read on AMZN?
[09:52] {jfjf64} looks lk it cd FALL
[09:53] {Threei}  no read
[09:54] {ese} rimm Long at .40 ???
[09:54] {ese} vad opinion
[09:54] {Threei}  break of it
[09:54] {Threei}  if holding .30
[09:54] {ese} tks
[09:55] {kowboy} stop on FCX if it breaks 98?
[09:55] {ese} ICE  where are ya
[09:56] {Threei}  it went too high kowboy
[09:56] {Threei}  need it to establish closer range
[09:56] {Threei}  for clearer resistance
[09:56] {kowboy} ty
[09:57] {Threei}  RIMM is holding very nicely
[09:57] {ese} yup
[09:57] {ese} MAV ICE where are ya
[09:58] {magoo} sittin in diner thinkin about quitting
[09:58] {ese} lol
[09:58] {dino} lol
[09:59] {jfjf64} watchin  gs
[09:59] {jfjf64} .75
[09:59] {davd} in rimm .38
[10:00] {jfjf64} in
[10:00] {Threei}  it goes through consolidation... but not wait for the break
[10:00] {Threei}  but = why
[10:01] {jfjf64} but   gs
[10:01] {Threei}  I am talking about RIMM
[10:01] {Threei}  *(EU) EURO ZONE OCT CONSUMER CONFIDENCE: -11 V -11E
[10:01] {Threei}  *(US) OCT PHILADELPHIA FED: 1.0 V 2.0E
[10:01] {jfjf64} pls  cclairay
[10:02] {Threei}  *(US) SEPT LEADING INDICATORS: 0.3% V 0.3%E
[10:02] {jfjf64} fy
[10:02] {jfjf64} lol
[10:03] {ese} it ain't gonna make it..........
[10:03] {Threei}  invalidated
[10:03] {ese} had it cued up for a 1/2.....invalidated
[10:04] {Threei}  davd, you are ignoring the concept of trigger
[10:04] {ese} NEEEEXXXXTTTTTTT!!!!!!!!!!!!!!!!!!11
[10:05] {Threei}  FCX
[10:05] {Threei}  double bottom
[10:05] {Threei}  98 break
[10:05] {Threei}  smaller shares
[10:06] {Threei}  if holding .80
[10:07] {ese} cringing just a little as i watch fitb............errrrrrrrrrrreeeeccccckkkkkkkk....eeeeeeeeeee
[10:07] {Threei}  nope
[10:08] {Threei} Long Setup:  GDL  .25
[10:08] {Threei}  if stasys above .15
[10:09] {strider} gld?
[10:09] {Threei}  yes
[10:09] {Threei}  half lot
[10:10] {Threei}  1:1
[10:11] {Threei}  RIMM, you are disgusting
[10:11] {Threei}  GLD 1:2
[10:11] {magoo} out .49 ty
[10:11] {Threei}  yw
[10:14] {Threei}  1:3, out
[10:15] {Les} X
[10:15] {Les} 43
[10:15] {jfjf64} ty
[10:15] {Threei}  yw
[10:15] {jfjf64} f
[10:15] {jfjf64} 14.00
[10:15] {jfjf64} ton shares
[10:18] {jfjf64} short tight stop??
[10:19] {jfjf64} hmm
[10:19] {dino} skx l .16
[10:20] {Threei}  looking at GLD, trying to get a feel wether it's worth a full body breach, .60
[10:20] {Threei}  if holding .40
[10:21] {Threei}  OK, it resolved my doubts :)
[10:22] {Threei}  but double bottom may not be in play
[10:23] {Threei}  ideally, brief dive under .20 and cross back
[10:23] {nemo} fcx db?
[10:23] {Threei}  can't tell...
[10:24] {Threei}  looks so but I hate the ranges n it
[10:24] {jfjf64} wynn
[10:24] {jfjf64} 1grrrrrrrrrrrrrrrr
[10:24] {jfjf64} missed
[10:25] {jfjf64} 106
[10:25] {jfjf64} blew by
[10:26] {Threei}  GLD like clockwork
[10:26] {Threei}  anyone caught it?
[10:26] {jfjf64} slit my rist
[10:26] {Threei}  with banana?
[10:27] {Threei}  good eye FCX, nemo
[10:27] {nemo} ty
[10:28] {nemo} now looking DT
[10:28] {nemo} like spy
[10:31] {Threei}  *EIA NATURAL GAS INVENTORIES: +93 BCF VS. +82 TO +95 BCF ESTIMATE RANGE (related UNG USO )
[10:31] {Threei}  lol
[10:32] {Threei}  inventory of natural gas will increase expponentially over the course of future history of a mankind, to bitter disappointemtn of UNG traders
[10:32] {Threei}  that thing won't quit until it kills them all
[10:33] {Threei}  classic case of "it can't go any lower"
[10:33] {Threei}  except it can and does
[10:35] {Les} until all those long start thinking of going short every thursday
[10:35] {Les} then we'll see which way UNG decides to go...
[10:35] {dino} iivi sm l .04 thin
[10:36] {dino} over last two years they found enough for 120 years at current comsumption
[10:37] {RonS} what the frack?
[10:37] {dino} yes
[10:38] {dino} marcellus 2nd largest find in world
[10:39] {Les} so Obama's gonna transfer entire US car fleet to UNG?
[10:39] {dino} no the idiots against fracking
[10:40] {RonS} ...he's against anything that strengthens the US
[10:40] {ese} L entr .00
[10:40] {dino} bingo! would rather spend 50 billion/month importing oil
[10:41] {ese} rimm
[10:42] {ese} missed that conversation.....what is marcellus dino
[10:43] {ese} and where is it
[10:43] {RonS} gas geography
[10:43] {dino} shale
[10:43] {nemo} shale oil all through the midatlantic to midwest
[10:43] {ese} hmmm
[10:43] {RonS} http://geology.com/articles/marcellus-shale.shtml
[10:43] {dino} mrtn sm l .65
[10:44] {larisa} I bet if you lived near the plant that uses this technology you would think twice calling O any names :)
[10:44] {dino} i live above it
[10:45] {dino} no plants needed
[10:45] {larisa} so i guess you thought twice :)
[10:45] {RonS} ...and what names?
[10:45] {dino} chesapeake, hess, cabot, range resoursces
[10:45] {RonS} look at what he does
[10:46] {RonS} that tells the tale, not the bs
[10:46] {RonS} lari saying we are calling O names dino...
[10:47] {dino} :D
[10:47] {larisa} :)
[10:47] {RonS} lol
[10:47] {jfjf64} aapl
[10:47] {jfjf64} breakdn 3i
[10:50] {magoo} FCX vad, thoughts here?
[10:51] {magoo} gotta be the scoop of the day soon
[10:52] {Threei}  scoop?
[10:52] {Threei}  I have only verety general feel for it mags
[10:53] {Threei}  can't turn it into actual precise calls
[10:54] {magoo} well lets here it
[10:54] {Threei}  up for now
[10:56] {Les} x failed to follow thru 43. u read a b/d on it vad, or just wandering now?
[10:56] {ese} have patience......she'll be back
[10:57] {dino} skx stuck stop to b/e
[10:57] {Threei}  X feels like down
[10:57] {Threei}  stop would be above 43 of course
[10:57] {Threei}  actual trigger is toughie
[10:57] {Threei}  .80 is too obvious
[10:58] {Threei}  and a but too far
[10:58] {jfjf64} .84
[10:58] {jfjf64} ?
[10:58] {Threei}  not sure how tro enter it
[11:01] {jfjf64} wynn
[11:01] {jfjf64} .84 break
[11:01] {jfjf64} ccccccccccc/h
[11:02] {jfjf64} hold.70
[11:05] {dino} skx out flat
[11:09] {jfjf64} lets go wynn
[11:09] {jfjf64} 1/1
[11:10] {jfjf64} stop 107
[11:10] {jfjf64} out
[11:15] {nemo} look for spy to bounce around .75 and tna with it
[11:16] {nemo} vwap is .73 ons spy
[11:16] {ese} L entr avg still.00
[11:17] {Threei}  FCX holding well
[11:17] {ese} L chkp .50
[11:19] {Threei}  bounce must be close
[11:20] {Threei}  (CH) China Official highlights new 5 year plan will not have major impact on exports on rare earth minerals, China must conserve its resources and urges partners to develop their own
[11:20] {nemo} next bounce possibility for spy .58-60 area
[11:20] {Threei}  - Notes that the China is hopeful that the US will relax some high tech export restrictions
[11:20] {Threei}  I mean FCX
[11:20] {Threei}  markjet is still on downtrend
[11:25] {khaln} .
[11:25] {ese} what did i tell ya..........just have patience and she'll be back
[11:27] {Les} there she blows
[11:27] {Threei}  watching X for bounce
[11:31] {Threei}  .60 break
[11:32] {Threei}  if holding you know what
[11:32] {ese} L entr again avg .00
[11:38] {Threei}  FCX
[11:39] {Threei}  .25 long
[11:39] {Threei}  smaller shares
[11:40] {Threei}  .10 support
[11:40] {magoo} wher u thinking .40 area or a real resumption up
[11:40] {Threei}  nope... market is still not ready
[11:41] {Threei}  TNA
[11:43] {Threei}  .70 long
[11:43] {Threei}  if holding .60
[11:43] {Threei}  in
[11:44] {Threei}  1:1
[11:44] {Threei}  1:2
[11:45] {Threei}  over 1:3, out
[11:46] {Threei}  anyone??
[11:46] {magoo} me
[11:46] {strider} me
[11:46] {Threei}  whew
[11:48] {dino} skx l .25
[11:50] {davd} good call on tna (i covered a lot of shorts...)
[11:55] {Threei}  double bottom
[11:56] {Threei}  same condition
[11:56] {Threei}  and 1:1 once again
[11:56] {Threei}  1:2
[11:57] {Threei}  this is like shooting fish in a barrel
[11:57] {Threei}  1:3, out
[11:58] {magoo} keep it up, im red der than red
[11:58] {Threei}  deja vu
[11:59] {Threei}  aww, 1:4
[11:59] {magoo} out .15
[11:59] {magoo} ty
[11:59] {magoo} 1200 of those bufggers
[11:59] {Threei}  welcome
[12:00] {magoo} now iom just red
[12:00] {magoo} instead of redder than red
[12:01] {Threei}  awwwwwwww
[12:01] {Threei}  look at it go
[12:01] {magoo} im in again
[12:03] {davd} wow, kellog had a good breakfast, huge comeback
[12:05] {magoo} out
[12:12] {magoo} fcx now vad
[12:13] {magoo} FCX vad
[12:15] {dino} hni
[12:16] {Threei}  not yet mags
[12:16] {magoo} lvs lows too
[12:19] {dino} crus sm l .75
[12:22] {davd} in crus .75 small
[12:23] {davd} dollar coming off highs back comes market?
[12:23] {dino} crus stop .49
[12:24] {davd} thanks dino
[12:24] {dino} gl
[12:25] {magoo} tna vad
[12:28] {Les} sneak break coming vad? TNA 52...?
[12:29] {Threei}  hmmm
[12:29] {Threei}  not sure really
[12:49] {Threei}  Now I am
[12:49] {Threei}  no :)
[12:56] {Les} yeh yeh everyone loves a comedian
[12:56] {Les} don't give up yer day job
[12:57] {Threei}  sigh
[13:11] {magoo} sigh sigh
[13:13] {Threei}  Ahmadinejad, Chavez to Talk about New World Order
[13:13] {Threei}  ummm
[13:13] {Threei}  okkkay
[13:14] {Les} a new G2 to challenge the status quo - coooool
[13:17] {RonS} Ahmadinnerhead: Hey Yugo, you take Western Hemispere...Ugo: and dinney, you take Eastern.  Voila! New World order...now about those il youngs...
[13:18] {dino} lol
[13:18] {RonS} ...and Aussies...
[13:18] {RonS} :D
[13:31] {ese} ookkkeeeee  dohhhh keeeeeee idlers......am outta here....it's choir time......still long a couple
[13:32] {magoo} c u
[13:32] {ese} cya mags
[13:32] {Les}  sing one hallelula and ten hail mary's for me will ya ese?
[13:32] {Les} I'm a sinner
[13:32] {Threei}  take care ese
[13:38] {RonS} Tom Petty time coming?...but the .vix is so muted...and there is another pomo in the a.m.
[13:49] {kowboy} tna soon?
[13:50] {nemo} watch spy
[13:50] {Threei}  FCX maybe better idea this time
[13:50] {nemo} might want to try a bounce right here.  .73 is spy pivot
[13:51] {RonS} euro/usd leading here...breaking day's value low...if it bust 1.39 watch out...now 1.3910
[13:52] {nemo} that would be .20
[13:52] {nemo} go for it kowboy?
[13:54] {nemo} spy has some support here at .63
[13:54] {nemo} then .39
[13:54] {magoo} this mkt is ASS
[13:54] {Threei}  you didn't expect dollar to drop endlessly did you??
[13:59] {davd} .37 is the pivot low per DeMark method
[13:59] {nemo} pivot low of what?
[13:59] {davd} spy
[14:00] {nemo} are you counting premarket?
[14:01] {davd} just quoting it from fidelity news - get it every morning.  i did not calculate it,
[14:01] {nemo} they give you support and resistance levels?
[14:02] {davd} yes the top was 118.94
[14:02] {nemo} cuz it looks like spy wants to test .01 level
[14:04] {davd} might be.  here is the quote "Pivot Low: $117.370. These were calculated using the DeMark method. It is generally believed to be bullish when price breaks out above the pivot high or bearish when price breaks down below the pivot low"
[14:04] {Threei}  TNA
[14:04] {Threei}  watch for DB
[14:05] {Threei}  from under 50
[14:05] {nemo} watch spy, it looks strong
[14:05] {nemo} stronger
[14:05] {Threei}  yes, better chance at the bounce this time
[14:05] {Threei}  50 break
[14:05] {strider} long
[14:05] {strider} ?
[14:05] {nemo} long stride
[14:06] {Threei}  "better chance at the bounce"
[14:06] {nemo} Sucks being a voyeur
[14:06] {Threei}  1:1
[14:06] {Threei}  half out
[14:06] {Threei}  can do better
[14:06] {nemo} .25 rresistance
[14:07] {dino} mtb feb gap fill
[14:07] {nemo} watch for spy to hold .32
[14:07] {Threei}  (MX) USGS: Magnitude 6.9 earthquake has struck off the coast of Baja, California
[14:08] {nemo} finally, maybe that frickin state will sink
[14:08] {Threei}  rofl
[14:11] {Threei}  held support on a pullback to a cent so far
[14:12] {Threei}  let's see if we can get new hugh
[14:12] {nemo} C&H
[14:12] {nemo} or IH&S
[14:12] {Threei}  naaaah
[14:12] {nemo} take your pick
[14:12] {Threei}  inverted H&S, could be
[14:12] {Threei}  but C&H at the bottom is just not right
[14:13] {Threei}  it's like a silk bra on bear
[14:14] {Threei}  out of place, meaningless and a little funny
[14:14] {nemo} or you in a tutu
[14:14] {Threei}  right
[14:14] {nemo} nah
[14:14] {nemo}  that's wretched
[14:15] {nemo} Oohhh...disgusted myself
[14:15] {Threei}  let's stay with bear in bra
[14:15] {nemo} yeah
[14:15] {Threei}  OK, offer more around .35 - .40
[14:15] {Threei}  should be there in a hurry
[14:17] {Threei}  what, .31 is all?
[14:17] {nemo} out
[14:18] {nemo} get out
[14:20] {Threei}  cr*p
[14:20] {Threei}  just started typing FCX at .40
[14:20] {Threei}  and thing was at .65 before I finished
[14:20] {nemo} spy held .32
[14:21] {Threei}  secnd target git TNA
[14:21] {Threei}  hit
[14:21] {Threei}  .55 is last one
[14:21] {nemo} might want to stay...spy likely going to test .72
[14:23] {Threei}  stop under .10 for the last piece
[14:28] {magoo} good stop placemt
[14:30] {Threei}  AMZN CEO declines comment on reports concerning the amazon store (162.53, +3.86, 2.43%)
[14:31] {Threei}  what reports?
[14:31] {magoo} really, just before they report tonite
[14:31] {Threei}  ah
[14:31] {Threei}  - Reminder: On 10/7 WSJ reported that Amazon was planning on launch of App store to compete with Google and Apple
[14:37] {Threei}  (US) Fed's Bullard: Size of any Fed purchases would be 'open ended' and in $100B increments and would hinge on economic data; no decisions have yet been made on QE2
[14:37] {Threei}  TNA happily closed +.53
[14:37] {Threei}  - Affirms expectation that Q4 GDP could exceed Q2
[14:37] {Threei}  - Notes that the Fed is not around to 'ratify' what the markets are thinking
[14:37] {Threei}  - Disinflation has slowed in recent months
[14:38] {davd} crus holding up well dino
[14:38] {dino} stuck
[14:38] {davd} relative to market...
[14:39] {dino} y
[14:43] {Threei}  POT (CA) Canada Industry Min: BHP takeover could hurt the growth of the industry; will not result in a net benefit for jobs
[14:43] {Threei}  - Calls Potash a strategic resource and Canada should take action to represent that fact (142.02, -0.41, -0.29%) (related MOS AGU BHP USD/CAD )
[14:51] {RonS} ...wonder what he was saying when the Chinese were taking an interst in TCK during the credit crisis
[14:55] {dino} day three begins
[14:56] {Threei}  this is more of bounce than I expected
[14:56] {Threei}  but I am fine with my 50+ cents
[14:57] {Les} I am jealous
[15:02] {Les} CAT 42 break?
[15:03] {Les} or this bounce outta steam u think?
[15:03] {Les} X sorry
[15:03] {Threei}  sheesh
[15:03] {Les} not CAT
[15:03] {Threei}  was looking at CAT and tinking what 42?? :)
[15:04] {Les} playing mind games with ya
[15:04] {Threei}  nah, not delighted
[15:04] {Les} k
[15:05] {Threei}  the only cat allowed to play mind games with me: http://photography.realitytrader.com/2010/04/cutest-tabby-ever.html
[15:07] {Les} I'm reflecting on new strategy to keep pesky things out of our garden
[15:07] {Les} as new buildings and neighbours grow around us, so does cat populatoin
[15:08] {RonS} dingo
[15:08] {RonS} cattle dog
[15:09] {Threei}  cats are welcome in my backyard... it's neighbours who aren't
[15:09] {Les} blue heeler yeh
[15:09] {Les} no, no dogs
[15:09] {Les} bb gun?
[15:09] {Les} find a high powered water pistol maybe
[15:09] {Les} paint gun
[15:10] {RonS} swiss army hatchet
[15:10] {Les} I've no problem humiliating cat, don't want to be seen killing cat
[15:16] {RonS} now that you are mostly indoors you may want to try this: http://tinyurl.com/386grn6
[15:17] {Les} I'd settle for cocaine sprinkled around the perimeter
[15:18] {Les} cayenne pepper
[15:18] {Les} but I'm a twisted soul
[15:19] {Les} http://www.finviz.com/forex_charts.ashx?t=USDJPY&tf=m5
[15:19] {Les} watching if the $ about to run here...
[15:25] {Threei}  you can't humiliate a cat...
[15:25] {Threei}  think about it:
[15:26] {Threei}  they are the only creatures on earth that got us to house, wine ad dine them, AND look down their nose at us
[15:27] {Threei}  you do something cat doesn't like, he just snorts, shrugs and walks away
[15:27] {Les} so if I chain them up outside in freezing weather with no food and water will they dislike me afterwards?
[15:29] {Threei}  dunno, but I will
[15:29] {Les} gotcha
[15:29] {Les} so I say nothing of this
[15:29] {Threei}  worse yet, larisa will too
[15:30] {dino} out skx ,57, +.32
[15:30] {dino} iivi to flat
[15:32] {dino} mrtn to flat
[15:32] {dino} crus to flat
[15:34] {khaln} cat makes a heart massage to save his loved cat.              http://youtu.be/GAaH_HlUD68
[15:38] {larisa} made me cry
[15:38] {dino} mrtn out flat
[15:38] {Les} stop it lari
[15:38] {Les} was thinking car tyre would massage heart much more effectively
[15:39] {Threei}  larisa, anything particularly hurtful you wanty me to slap him with?
[15:40] {Les} a feather?
[15:40] {Threei}  you wish
[15:40] {jfjf64} what s going on hear
[15:40] {Les} discussing how to kill cats
[15:41] {jfjf64} all 4 that
[15:41] {jfjf64} hate those guys
[15:41] {jfjf64} with passion
[15:41] {Les} good man
[15:41] {jfjf64} hmm   3i
[15:42] {jfjf64} ya a cat lover
[15:42] {Threei}  well, look at people
[15:42] {Threei}  who else to love but cats
[15:42] {jfjf64} lol
[15:44] {jfjf64} just got back
[15:44] {jfjf64} were you able to capitalize on selloff earlier
[15:45] {Threei}  50+ cents on TNA
[15:45] {jfjf64} ahh nice
[15:45] {Threei}  actually we played TNA three times today
[15:46] {Threei}  unusually somewhat
[15:46] {jfjf64} luv  break of 52.77
[15:46] {jfjf64} 53.38
[15:47] {jfjf64} 51.67
[15:47] {jfjf64} 50.88
[15:47] {jfjf64} lol
[15:47] {jfjf64} any those ya play
[15:54] {dino} stopped crus, iivi flat
[15:55] {RonS} amzn...options predicting a $12 move
[15:55] {jfjf64} ??
[15:55] {Les} how the heck u know that?
[15:56] {jfjf64} mrvl
[15:56] {jfjf64} break
[15:56] {jfjf64} imo
[15:56] {RonS} add the price of the atm puts and calls...the mm's of the options price them against the stock...their job to be correct...90% of the time they hit it
[15:56] {jfjf64} oh boy3.55
[15:58] {jfjf64} mm
[15:59] {jfjf64} ?
[15:59] {RonS} market maker
[15:59] {RonS} options mm...cboe guys etc
[15:59] {jfjf64} k
[16:00] {Threei}  let's see what AMZN reports
[16:00] {magoo} axp bidu too
[16:00] {RonS} ...a move is either + or -...
[16:00] {Threei}  gut says AMZN down
[16:00] {Les} so Ron, add the 165 strikes together to determine expected move?
[16:01] {RonS} yep
[16:01] {RonS} ...going off the weekly which expires tomorrow
[16:01] {Les} holding it. its opex today is it?
[16:01] {Les} hold it
[16:01] {RonS} enough volume that it applies
[16:02] {RonS} heard of the weekly options Les?
[16:02] {Les} monthly, but not weekly
[16:02] {RonS} new product on select issues...been out about 3 months
[16:03] {Les} lol the casino offering some new games to suck in  the punters are they?
[16:03] {jfjf64} look c/h   amzn   164.60
[16:03] {larisa} daily options exist too :)
[16:03] {magoo} gun to vads head...amzn sells off
[16:03] {RonS} http://www.cboe.com/micro/weeklys/introduction.aspx
[16:04] {Threei}  AMZN Reports Q3 $0.51 v $0.48e, R$7.56B v $7.4Be
[16:04] {Threei}  $7.56B v $7.4Be
[16:04] {Threei}  - Guides Q4 Rev $12-13.3B v $12.3Be
[16:05] {Threei}  here we go
[16:05] {Les} which way? which way?
[16:05] {Threei}  spike firstg, sharp drop next
[16:06] {RonS} +$6 up, now ticking $6 down
[16:06] {Threei}  range 12 points
[16:06] {RonS} i'm telling ya...these guys are amazing
[16:07] {RonS} ...but when they miss it is big...eg one time goog went +$50 whne they had it price $15
[16:07] {jfjf64} lol
[16:08] {magoo} sorry vad, when it rabn up i cocked the weapon
[16:08] {magoo} but it fell and saved u
[16:08] {RonS} lol
[16:08] {Threei}  watcgh it dropping more
[16:08] {RonS} at first I thought u bought it
[16:08] {Threei}  ok guys, thank you
[16:08] {magoo} i caught a short
[16:09] {Threei}  have a good evening, see you tomorrow
[16:09] {magoo} masde 500
[16:09] {jfjf64} comom
[16:09] {magoo} scared tho
[16:09] {Threei}  wtg
[16:09] {jfjf64} wherya going
[16:09] {Threei}  to live my life
[16:09] {jfjf64} lol
[16:09] {Threei}  where there is no market
[16:09] {jfjf64} enjoy
[16:09] {Threei}  :)
[16:09] {Les} ciao

Oct 20 2010

Uneven day, with profits outweighing stops but not by much. No interesting charts to show. Yawn.

Session Time: Wed Oct 20 00:00:00 2010
[07:05] {magoo} morning
[08:12] {Threei}  must be...
[08:33] {jfjf64} morni
[08:33] {jfjf64} 3i
[08:33] {jfjf64} mags
[08:33] {Threei}  jf :)
[08:38] {davd} jf 3i mag :)
[08:38] {Threei}  davd :)
[08:38] {Threei}  Reportedly an early G20 Draft Communique indicates the Organization will state it intends to move toward a more market-determined FX system
[08:38] {Threei}  - G20 members to refrain from competitive devaluation on currencies and resist all forms of protectionism
[08:38] {Threei}  - G20 to collaborate and coordinate to ensure sustainable ecconomic growth
[08:39] {Threei}  wow... not sure I've seen it before:
[08:39] {Threei}  Euro vs US Dollar Citigroup analysts recommend building long positions in the pair (timing uncertain)
[08:39] {Threei}  - Follow Up: Citi note suggested to re-establish longs at 1.3845, target 1.5145, stop 1.3550.
[08:39] {Threei}  such a concrete trading recommendation
[08:41] {Threei}  I disagree with their stop placement though
[08:43] {Threei}  CREE destruction
[08:45] {RonS} gm  amln obliteration
[08:45] {Threei}  Ron :)
[08:51] {Threei}  (US) HUD Secretary: not finding evidence of structural problems in mortg market that would make securitizations suspect
[08:57] {dino} gm all
[08:58] {Threei}  dino :)
[09:05] {Les} afternoon guvenors
[09:05] {Threei}  les :)
[09:07] {davd} g'day guvnr
[09:08] {ese} morning
[09:09] {magoo} AMLN news vad?
[09:12] {Threei}  AMLN Reports Q3 Rev $154M v $165Me; Canceled conference call
[09:12] {Threei}  - Comments: Amylin plans to report full financial results for the quarter and nine months ended September 30, 2010 within the next few weeks pending its assessment of the potential financial impact of the U.S. Food and Drug Administration complete response letter regarding BYDUREON.
[09:13] {Threei}  and a lot of downgrades today
[09:13] {larisa} gm :)
[09:13] {Threei}  larisa :)
[09:13] {larisa} vad :)
[09:13] {davd} larisa ese :D
[09:13] {dino} alks, lly w/it
[09:13] {larisa} davd :)
[09:14] {Threei}  ese :)
[09:20] {Les} vad, what was MEE's story yesterday?
[09:20] {RonS} they are considering selling themselves
[09:21] {Threei}  MEE Company reserves of steelmaking coking coal likely to attract suitors - WSJ
[09:21] {Les} M & A rumours? ok ty both
[09:25] {RonS} LCC could get a short squeeze going...22.5 mil short
[09:25] {Threei}  LCC Reports Q3 $1.23 v $1.17e, R$3.18B v $3.2Be
[09:27] {Threei}  keeping an eye on AMLN
[09:27] {jfjf64} down 50 % ouch
[09:33] {Threei} Long Setup:  RIMM  .65 break half lot
[09:35] {Threei}  invalidated
[09:35] {Les} PM miners getting pumped
[09:38] {ese} in sm  rimm ........gonna give it a shot
[09:38] {ese} .63
[09:38] {Threei} Long Setup:  AMLN  .10 half lot
[09:38] {ese} stop .46
[09:39] {ese} out
[09:39] {ese} .80
[09:39] {ese} +.17
[09:40] {Threei}  1:1
[09:41] {Les} EWZ 78 b/d?
[09:41] {ese} what was amln's news.......
[09:42] {dino} drug refusal
[09:42] {Threei}  I doubt it, EWZ
[09:42] {ese} wow
[09:42] {Les} ok
[09:42] {Threei}  [09:12] {Alert} Threei AMLN Reports Q3 Rev $154M v $165Me; Canceled conference call
[09:42] {Threei}  [09:12] {Alert} Threei - Comments: Amylin plans to report full financial results for the quarter and nine months ended September 30, 2010 within the next few weeks pending its assessment of the potential financial impact of the U.S. Food and Drug Administration complete response letter regarding BYDUREON.
[09:42] {Threei}  [09:13] {Alert} Threei and a lot of downgrades today
[09:42] {ese} whacked 10 beans just for that
[09:43] {Threei}  RIMM worked after all
[09:44] {Threei}  LVS
[09:44] {ese} yup
[09:44] {Threei}  HGSI Hearing Leerink Swann making positive comments (timing uncertain) (4.23, -0.02, -0.47%)
[09:46] {magoo} anyone still in aMLN?
[09:46] {ese} not i
[09:48] {ese} alks
[09:48] {ese} is that a drug company
[09:48] {dino} same drug
[09:48] {dino} lly too
[09:49] {ese} all of them getting wacked
[09:50] {jfjf64} gild
[09:50] {jfjf64} short??
[09:50] {Threei}  why??
[09:50] {jfjf64} lol
[09:50] {dino} mtb hl l .50
[09:55] {Threei} Short Setup: GLD  131 break
[09:55] {Threei}  half lot
[09:55] {Threei}  stop above day high
[09:56] {Threei}  target about .70
[09:56] {Threei} Short Setup: LVS  .80 break
[09:56] {Threei}  if stays under .90
[09:57] {Threei}  GLD 1:1
[09:57] {dino} mtb stopped -.27
[09:58] {Threei}  LVS no go
[10:00] {davd} in gld 131 short
[10:01] {Threei}  LVS rinse
[10:03] {dino} all red
[10:03] {Threei}  davd... cover, IMO
[10:03] {Threei}  or partial
[10:03] {davd} ok, thanks
[10:04] {Threei}  nice double top but it nears support
[10:04] {Threei}  and can bounce violently
[10:06] {magoo} cover nhere ,66 TY
[10:06] {Threei}  welcome
[10:06] {Threei}  why do I like shorting gold...
[10:07] {Threei}  must be some deep hidden contrarian in me
[10:07] {Threei}  closet contrarian
[10:07] {davd} actually, it is psychological 31, absolutely.
[10:07] {davd} you want to "show all those sheep" that you are smarter
[10:07] {Les} ?
[10:07] {magoo} its just the levels ..lose oo, cover .60 area
[10:08] {Threei}  thank you Dr Freud
[10:08] {davd} me too!  lost a lot shorting gld
[10:08] {Les} he just likes crushing gold bugs
[10:08] {davd} right, same thing
[10:09] {Threei}  where do I send the check for the seanse of psychoanalysis? :)
[10:09] {Les} GATA.org
[10:09] {magoo} did your mom wear alot of goldLOL (freud)
[10:09] {Threei}  lol
[10:09] {davd} you can't yet, because there is no money in shorting gold
[10:09] {Threei}  there is for me
[10:09] {Threei}  just made it
[10:10] {davd} true, i've lost a lot more in the past though.
[10:10] {Threei}  well... I am not shorting it because I like shorting it
[10:10] {Threei}  I short it if and when I see a setup
[10:10] {Threei}  joy comes as icing on a cake :)
[10:11] {dino} mon hl l .25
[10:11] {davd} right agreed...
[10:15] {dino} mon s5top -.16
[10:17] {Threei} Short Setup: GLD  .60 break
[10:17] {Threei}  if stays under .70
[10:17] {Threei}  inverted C&H
[10:18] {Threei}  nope, n worky this time
[10:18] {Threei}  or just rinse?
[10:18] {RonS} pomo starting through 11 edt
[10:19] {jfjf64} lvs
[10:19] {jfjf64} .12
[10:19] {jfjf64} break
[10:19] {Threei}  ugh
[10:19] {Threei}  rinse
[10:20] {davd} support for spy at .82 ese? (like yesterday)
[10:21] {ese} tks david
[10:21] {magoo} covered .44 ty GLD
[10:21] {Threei}  grrrr
06[10:21] * Threei slaps magoo around a bit with a large roll of cash
[10:22] {dino} feels heavy
[10:22] {magoo} look LVS vad
[10:22] {Threei}  for short?
[10:22] {magoo} yup
[10:22] {Threei}  looks ready...
[10:22] {Threei}  needs market help
[10:22] {Threei}  say, .15 break?
[10:23] {Threei}  if stays under .25
[10:24] {magoo} and look BIDU here
[10:24] {Threei}  not ready yet, IMO
[10:24] {Threei}  at least one more sharp selloff
[10:24] {dino} vxx l .30
[10:26] {davd} in vxx .30
[10:27] {Threei}  ABK Reportedly US judge approves settlement in Lehman bankruptcy case, Ambak withdraws $6B in claims (1.10, -0.04, -3.51%)
[10:31] {dino} stop vxx -.10
[10:32] {Threei}  DOE CRUDE: +660K V +2.5ME; GASOLINE: +1.15M V -1.5ME; DISTILLATE: -2.15M V -1ME
[10:33] {davd} out vxx stopped
[10:34] {Les} {------ slaps davd around with a copy of yesterday's trading log
[10:37] {jfjf64} mgm
[10:37] {davd} ouch, didnt get close to .82?
[10:37] {davd} i paid with vxx, yet again
[10:38] {dino} me too davd, off my screen
[10:38] {Threei}  I abandoned it completely
[10:38] {Threei}  never saw worse tracking ETF
[10:39] {Threei}  it may tgrack the patterns of manufacturing ivory buttons for blouses in South Argentina for all I know, but not VIX
[10:40] {davd} good call on gold threei made a proft
[10:41] {Threei}  darn barbaric relic
[10:42] {jfjf64} mos
[10:42] {RonS} .vix is current mo, vxx mixes out months also so it is a flawed inverse instrument since the out mos are always different than the current and move on their own
[10:42] {jfjf64} watchin
[10:42] {jfjf64} hold.88
[10:42] {dino} skx l .45
[10:42] {jfjf64} .95 brealk
[10:43] {jfjf64} lk 5 min chart
[10:43] {jfjf64} nope
[10:43] {ese} vad.....can i ask how many shs you went at GLD with
[10:43] {Threei}  I'd be much happier with pullback entry on it jf
[10:44] {ese} that chart pattern is thing of beauty
[10:44] {jfjf64} .60
[10:44] {Threei}  1K
[10:45] {ese} tks
[10:45] {ese} i like the way that trades
[10:45] {ese} smooth...seems predicable
[10:46] {ese} have rarely looked at it before
[10:46] {ese} but have been watching it since your call
[10:47] {Threei}  keep shares rather small uintil you get comfortable with the way it rades
[10:47] {Threei}  it's not necessary always smooth
[10:47] {ese} hmmmmm
[10:48] {ese} seems like every day is a gap one way or the other on the daily and then it looks smoother on intra day charts
[10:49] {ese} patience must be filthy stinking rich by now
[10:49] {ese} with that last 3 month climb
[10:51] {RonS} ...this euro strength is freakin relentless
[10:51] {ese} what chart you watchin ron
[10:52] {RonS} http://www.fx.com   they have live quotes on all crosses w/ charts
[10:52] {ese} tks
[10:52] {RonS} www.dailyfx.com
[10:53] {RonS} sorry
[10:55] {Les} ese dcc
[11:04] {Threei}  BIDU
[11:04] {Threei}  .50 break
[11:04] {Threei}  half lot, if holding above .30-.35
[11:05] {Threei}  sigh
[11:06] {dino} mtb sm l .30
[11:12] {magoo} took bidu now bad
[11:12] {magoo} vad
[11:12] {Threei}  make up your mind, will ya
[11:12] {Threei}  b or v
[11:13] {RonS} or g...good vad or bad vad...
[11:14] {RonS} anyone wanna feel like a chump?
[11:14] {davd} in mtb small .5
[11:15] {RonS} Judge Judy makes $45mil/yr
[11:15] {Les} who?
[11:16] {dino} bwld spike
[11:16] {RonS} http://www.judgejudy.com/
[11:16] {Les} ok found her. what a prat
[11:16] {Threei}  lol
[11:18] {Les} America is sick, sucking on judicial process as prime time tv
[11:18] {Threei}  let's not start international competition for first prize in sickness
[11:18] {strider} we just don't have your brilliance to call upon, les.
[11:18] {Threei}  I say there won't be losers in such contest
[11:18] {RonS} ...long standing tradition Les...started w/ Perry Mason in the '50's
[11:19] {dino} skx to .57
[11:20] {dino} to .59
[11:20] {Les} trying to imagine prime time radio show as Stalin convicts intellectuals
[11:21] {RonS} besides Les...it has to do w/ human nature...everyone loves a trainwreck and think how popular public executions were for centuries...
[11:21] {Threei}  in enlightened Europe, too
[11:21] {dino} out skx .60 +.15
[11:22] {RonS} gj
[11:22] {Les} yes, beginning to appreciate behaviour of "the herd"
[11:22] {Les} in Europe, US, OZ. all equal
[11:22] {Threei}  eqzaktly
[11:22] {Threei}  people are the same screwups everywhere
[11:23] {Threei}  stupidity has no nationality
[11:24] {nemo} So...wtf is happenin'?
[11:25] {Threei}  not much
[11:25] {nemo} Sorry wasn't here earlier, just got out of the tree
[11:25] {Threei}  except les tried to attack North America and we cricled the wagons
[11:25] {RonS} Mamma said stupid is as stupid does -  Forrest Gump
[11:25] {Les} you show a definite prejudice to gold vad, I show it to the US
06[11:26] * Threei copies that phrase and sends it to border customs, in case les ever tries to enter
[11:27] {nemo} I see the market is basically getting back what it lost yesterday and dow volume through the roof
[11:27] {Threei}  dollar gave back yesterdays gains
[11:27] {RonS} "Dear Big Sis...here is a quote from Les..."
[11:27] {Threei}  so market confirmed that at this moment it's mostly about currency
[11:28] {RonS} yep
[11:28] {nemo} Gotta' wonder if soon when you go to the ATM it's gonna' look more like a toilet paper dispenser
[11:29] {Les} lol. then again, with cross dressing psycho canadians roaming the countryside, gotta question coming to Canada as well
[11:29] {Threei}  yeah, those are of serious concern
[11:30] {Threei}  they are widespread herfe, like volwes on the streets of Russia
[11:31] {Threei}  http://www.youtube.com/watch?v=vACtukwBHTw
[11:33] {Les} :) they should package that for tourists...
[11:34] {Threei}  XING Strength attributed to chatter XING could get an offer for its mineral reserves
[11:34] {Threei}  - NOTE: XING is a telecom firm that also has mining operations.
[11:34] {Threei}  lol
[11:34] {Threei}  reminds me MACE
[11:35] {Threei}  car wash company that also had security equipment department
[11:35] {Threei}  used to go up every time there was some terror threat alert - and when sold couple car washes
[11:36] {RonS} lol
[11:36] {Threei}  peobably run out of cra washes, trades on BB now
[11:37] {magoo} was quite a mover tho
[11:38] {Threei}  whew... someone else remembers that
[11:38] {magoo} multi-points
[11:38] {Threei}  I was afraid I show my age {G}
[11:39] {Les} so mags is old too?
06[11:39] * magoo slaps Les around a bit with a large trout
[11:39] {Threei}  no, he just has good memory
[11:39] {Threei}  but les today is glutton for punishment I see {G}
[11:42] {Les} filling Nemo's shoes...kinda
[11:42] {magoo} or maybe vad and magoo been doin this long toime is all
[11:42] {Les} yeh yeh I know that
[11:43] {Les} since what year exactly?
[11:43] {Threei}  96 here
[11:43] {magoo} 99
[11:43] {Les} they didn't have working internet in 96 Vad
[11:43] {Threei}  no
[11:43] {magoo} we used pigeons
[11:43] {Threei}  I used to sent home pigeons
[11:43] {Les} lol u beat me to it
[11:43] {dino} '00
[11:44] {Threei}  and thnk goodness they trained those just in time, 'cause casting an order on stone tablet and sending it with T-rex was really tiring
[11:45] {magoo} be back in hour
[11:45] {magoo} out bidu btw .34
[11:45] {Threei}  foegot to let T-Rex out?
[11:45] {magoo} ave in was ,19
[11:46] {magoo} +1.14
[11:46] {Threei}  wtg
[11:47] {jfjf64} aapl  a east
[11:47] {jfjf64} beast
[12:00] {davd} out mtb .21 stopped
[12:17] {Threei}  (GR) Greece issues budget update on Jan-sep: Deficit -31% v -29% expected (related EUR/GBP EUR/USD )
[12:17] {Threei}  how long before reality starts catching up with Euro again?
[12:23] {jfjf64} pep
[12:23] {jfjf64} watchin
[12:23] {jfjf64} short break
[12:28] {jfjf64} forgot lunch time
[12:33] {dino} out mtb .70, +.40
[12:34] {jfjf64} wtg
[12:36] {dino} ty
[12:40] {Threei}  look at VXX
[12:40] {Threei}  it it the lowets price for it, ever?
[12:41] {jfjf64} 1/ pep
[12:41] {jfjf64} half out
[12:42] {jfjf64} slow and ateady
[12:44] {jfjf64} wfc  looks lk  wanna go
[12:45] {jfjf64} entry   missed
[12:45] {jfjf64} .73
[12:46] {jfjf64} out pep
[12:46] {jfjf64} wfc
[12:47] {davd} beige book at 2
[12:47] {jfjf64} looks steady  accccumulation
[12:48] {jfjf64} rimm 5 min 3i  ya lk
[12:49] {jfjf64} sorry  didnt know  ya sleepin
[12:50] {Threei}  not sure
[12:50] {dino} mrtn hl l .00
[12:51] {jfjf64} if ya sleepin
[12:51] {jfjf64} or rimm
[12:51] {Threei}  we may start shakeout ahead of beige book
[12:51] {jfjf64} dont mind me  beige book??
[12:52] {jfjf64} fcx breaks
[12:52] {jfjf64} sleepin
[12:52] {jfjf64} all of us
[12:52] {Threei}  meaningless blabbing wrapped up as serious economic analysis, jf
[12:52] {jfjf64} C/H
[12:53] {jfjf64} GRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRR
[12:53] {Threei}  wow
[12:53] {Threei}  read this:
[12:53] {Threei}  (US) Fed's Plosser: Regulations often create, not fix problems; bad incentives drove much of the financial crisis
[12:53] {Threei}  - Better rather than more regulations are the right way forward.
[12:53] {Threei}  common sense? among fed?
[12:53] {Threei}  now i've seen everything
[12:55] {jfjf64} HMM
[12:56] {jfjf64} cree
[12:56] {jfjf64} watchin
[12:56] {jfjf64} market  help
[13:00] {jfjf64} cree  wfc  works
[13:00] {jfjf64} calls ther
[13:00] {jfjf64} not pullin chain
[13:00] {jfjf64} oops
[13:00] {jfjf64} trigger
[13:02] {RonS} sorry, could not conjure a clean title:   http://tinyurl.com/2c84zdx
[13:02] {jfjf64} gs
[13:04] {jfjf64} hat cats
[13:04] {jfjf64} lol
[13:08] {jfjf64} rimm ready
[13:08] {jfjf64} market  pushhhhhh
[13:09] {jfjf64} in
[13:09] {jfjf64} .66
[13:11] {jfjf64} stop.58
[13:12] {jfjf64} holdin
[13:17] {jfjf64} 1/1
[13:18] {jfjf64} cd i go home
[13:18] {jfjf64} lol
[13:19] {Threei}  no
[13:19] {Threei}  stay here and try not to fall asleep
[13:20] {jfjf64} not me
[13:23] {RonS} Barrons dude blogs AAPL Mac event: http://tinyurl.com/29o2rur
[13:25] {jfjf64} adbe
[13:25] {jfjf64} .40 break
[13:26] {jfjf64} tight stop here
[13:26] {jfjf64} comon spy
[13:28] {magoo} ok back
[13:29] {ese} .......hmmmmmmm
[13:29] {dino} .
[13:30] {ese} i'm back have spent most of the morning reading Cara Community.....very informative
[13:31] {Threei}  you be carefulll you may end up on the next Bahamas conference
[13:32] {ese} ohhh yaa.........
[13:32] {ese} i'm gonna make one of those one of these times
[13:32] {Threei}  so far one is being planed tentatively for the end of April
[13:33] {jfjf64} you sd fly us all down 3i
[13:33] {Threei}  hmmm
[13:33] {Threei}  let me think about it
[13:33] {jfjf64} see
[13:33] {Threei}  OK, I though about it
[13:33] {Threei}  no
[13:33] {jfjf64} not bad idea
[13:33] {ese} I might be where Les is then........were thinking about a band tour to the Czech republic end of april
[13:34] {jfjf64} realy
[13:34] {ese} lol
[13:34] {jfjf64} ahh
[13:34] {jfjf64} got me
[13:34] {Threei}  anyway, I'll let you know when it's set
[13:34] {jfjf64} no thanks
[13:35] {jfjf64} lol
[13:35] {Threei}  fine
[13:35] {Threei}  if you don't want vacation you can write off taxes
[13:35] {Threei}  who am I to make you {G}
[13:35] {Les} BIDU 100 b/d?
[13:36] {magoo} like that
[13:36] {Threei}  probably, but after little bounce or consolidation
[13:38] {Threei}  looks ready
[13:39] {Threei}  if stays under .15
[13:39] {magoo} like rimm sh too if mkt falls
[13:39] {Threei}  too late for entry
[13:39] {magoo} i took it .65
[13:42] {magoo} need mkt help
06[13:43] * Threei hits BIDU over the head with 2x4
06[13:46] * Threei hits BIDU over the head with 2x4 equipped with rusty nails
[13:46] {dino} equiped, lol
06[13:46] * Threei hits BIDU over the head with 2x4 equipped with rusty nails and electrocharged
[13:47] {magoo} that'll do donkey
[13:47] {magoo} innnnnnnn
[13:47] {magoo} beige book at 2
[13:47] {Threei}  1:1
[13:47] {kowboy} missed rats
[13:47] {Les} was waiting for vicious drop. smooth as a baby's bottom
[13:48] {Threei}  {rats} whew... this time we got lucky
[13:48] {ese} have to say that with the right inflaction.....thaaatle  duuu dongkey
[13:48] {ese} kay
[13:48] {Les} oh I get it. Was thinking donkey kong....
[13:48] {magoo} go smack rimm would ya
[13:49] {Threei}  do donkey reminded me
[13:49] {Threei}  difference between eras:
[13:49] {Threei}  "to be is to do" Descartes;
[13:49] {Threei}  "to do is to be" Satre ;
[13:49] {Threei}  "DoBeDoBeDo" Sinatra.
[13:50] {ese} rotflol
[13:50] {Les} ?
[13:50] {Threei}  US) Fed's Plosser: Recent weakness in USD due to concerns on inflation; USD is responding to weakness seen in the economy over the summer months - Q&A
[13:50] {Threei}  - Says a ban on short selling would not be productive, as short selling serves an economic purpose.; reiterates that the Fed is not monetizing debt for fiscal purposes
[13:50] {Threei}  - When the time comes the Fed may need to withdraw reserves quickly to avoid inflation pressures as the $1T in excess reserves could trigger inflation
[13:50] {Threei}  - Reminder: Kocherlakota yesterday noted that the large excess reserves could have an inflationary impact
[13:52] {Les} you know its crazy times when someone suggests $1T excess COULD trigger inflation
[13:52] {jfjf64} wfc break dn
[13:52] {jfjf64} ???
[13:59] {magoo} rimm sh no go so far
[13:59] {ese} gotta go see ya tomorow
[13:59] {Les} bidu again
[13:59] {Les} ciao ese
[14:00] {dino} watching mtb, itw
[14:01] {Threei}  *(US) FED'S BEIGE BOOK: ECONOMIC GROWTH CONTINUES AT MODERATE PACE, HOUSING WEAK IN MOST DISTRICTS (related TLT SPY SHY XHB EUR/USD RTH INFLX )
[14:02] {Threei}  - Input costs, most notably for agricultural commodities and industrial metals, rose further. Shipping rates increased, and retailers in some Districts noted rising wholesale prices. However, prices of final goods and services were mostly stable as higher input costs were not passed on to consumers. Wage pressures were minimal.
[14:02] {Threei}  this is deflation??
[14:04] {jfjf64} lvs
[14:04] {Les} yeh not sure what Ben is afraid of
[14:05] {dino} skx to .52
[14:05] {dino} out +.13
[14:06] {Threei}  hmm
[14:09] {Threei}  market doesn't know how to interpret that
[14:09] {Threei}  (can't blame it really)
[14:17] {Les} market being tricky
[14:17] {Les} or suffering schizophrenic episode
[14:19] {dino} going up
[14:21] {dino} mrtn to .56
[14:22] {dino} out ,55, +.55
[14:23] {Threei}  wtg
[14:23] {dino} ty slow one
[14:23] {Threei}  hey
[14:23] {Threei}  I know I am not the sharpest tool in the shed but why do you have to make it public
[14:23] {dino} lol
[14:24] {Les} hehehe
[14:24] {strider} sndk
[14:25] {dino} no news
[14:25] {strider} ll.com:  Rumor: SanDisk moves up on Apple Macbook deal speculation :theflyonthewall.com
[14:31] {Les} X read vad?
[14:32] {Threei}  oh come on Les... it's just one letter
[14:32] {Threei}  looks up to me
[14:32] {Les} oh you can read X can you? :)
[14:33] {Threei}  yes, but I am aslow one
[14:34] {Les} it looks like a break play, but a little extended? break from .50?
[14:36] {Les}  LVS breaking
[14:36] {Les} wynn 102?
[14:40] {Threei}  nah
[14:47] {dino} iivi hl l .05
[14:53] {strider} fcx?
[14:53] {Threei}  WFC starts looking like short to me
[14:54] {Threei}  FCX too but with bounce first
[14:55] {Les} wfc decent pivot/MA support .65. if it cuts thru that...
[15:05] {dino} mtb lod
[15:20] {Les} test of support wfc
[15:27] {Les}  the games we play. outta here. c 's tomorrow
[15:27] {Threei}  take care les
[15:28] {dino} cya
[15:39] {Threei}  wow FCX
[15:41] {dino} skx l .19
[15:50] {dino}  jcg
[15:51] {Threei}  WFC CFO: mortgage application activity picked up tremendously in Q3; Q4 activity is looking stronger too - CNBC interview
[15:52] {dino} jcg sm l .25
[15:54] {Threei}  tough one
[15:55] {dino} yeah
[15:59] {Threei}  JCG Hearing Needham making cautious comments (timing uncertain) (28.95, -0.27, -0.92%)
[15:59] {Threei}  times up
[16:00] {Threei}  thank you all
[16:00] {Threei}  have a good evening
[16:00] {Threei}  see you tomorrow
[16:01] {dino} out skx -.12