Oct 04 2010

Very strong day with many nice trades. Ironically, one that made "chart of the day" is one we missed - I was late with alert by a few seconds and it triggered before we had a chance for entry. It however illustrates nicely the concept of trend continuation: notice how much the stock sold off already by the time of an alert, yet right setup worked again and sent it even lower, for an impressive 1:7 risk/reward.

 



Session Time: Mon Oct 04 00:00:00 2010
[08:21] {Threei}  10:00 US Aug Factory Orders, Aug Pending Home Sales
[08:28] {Threei}  POT Ticks higher on fresh unconfirmed report that Sinochem is still considering options on a potential Potash bid (142.64, 0.00, 0.00%)
[08:33] {Threei}  (GR) Greece unveils its 2011 draft budget: Deficit to GDP target set at 7.0%
[08:33] {Threei}  *Reminder: The draft budget was rumored to target a public deficit of 7.6% of GDP v the 8.1% expected in 2010.
[08:33] {Threei}  - Reminder: in the original stability plan Greece pledged to lower its deficit to 8.7% in 2010 from 12.7% in 2009 ; and to be within the maastricht criteria (3%) by 2012
[08:38] {davd} morning 3i.
[08:38] {Threei}  davd :)
[08:44] {Threei}  PO) Portugal Fin Min: Portugal faces challenges regarding consolidation of its public finances
[08:44] {Threei}  - It is important that these objectives are met.
[08:47] {dino} gm all
[08:48] {Threei}  dino :)
[08:50] {magoo} morn
[08:50] {Threei}  mags :)
[08:54] {Threei}  MOT
[08:54] {Threei}  Motorola Inc Microsoft requests ITC investigation into mobile devices and associated software from Motorola
[08:54] {Threei}  - Reminder: Last week MSFT had filed suit against MOT for infringement of nine smart phone patents. The FT reports that the suit "comes shortly before the launch of handsets running Microsoft's Windows Phone 7 operating system, a delayed response to touchscreen smartphones such as Android handsets and the iPhone."
[08:55] {Threei}  Earlier today ECB member Costa (Gov of the Portugal Central bank) stated that the country's austerity measures were not enough and needed political consensus on 2011 budget. Market's perception on Portuguese debt to depend on consolidation.
[09:02] {dino} cce
[09:05] {Threei}  (US) Yellen and Raskin officially sworn in as Fed members (related XLF )
[09:05] {Threei}  finally... I was losing sleep over that
[09:07] {Threei}  CCE, dino:
[09:07] {Threei}  Sunday, October 03, 2010 19:00:50
[09:07] {Threei}  Coca-Cola Co Completed acquisition of Coca-Cola Enterprises; Deal gives Coke control over 90% of its N. American sales volume
[09:07] {Threei}  - Sees consolidation resulting in a reduction in costs, more flexibility and faster innovation.
[09:07] {Threei}  **Reminder from Feb 25th: KO: Enters into agreements to acquire CCE's North American buiness valued at $3.4B, $8.88B of CCE debt, and all North American assets and liabilities of $580M
[09:07] {Threei}  CCE shareowners to exchange each CCE share for a share in a new CCE, focused solely on Europe, and $10/shr in cash at closing.
[09:13] {Threei}  (US) CNBC updates California budget cutting plans
[09:13] {Threei}  California closing $19B budget gap with services cuts and other measures. Services cuts account for close to half of the budget savings.
[09:13] {Threei}  - Also notes California state supreme court to rule later today if Friday furloughs of stateworkers are legal.
[09:28] {Threei}  MOS reports afer close
[09:28] {jfjf64} mornin
[09:29] {Threei}  jf :)
[09:29] {RonS} g'day
[09:29] {Threei}  ron :)
[09:31] {Threei} Short Setup: LVS  .40 break
[09:31] {Threei}  half lot
[09:31] {Threei}  if stays under .50
[09:32] {Threei}  too fast?
[09:32] {magoo} yes
[09:32] {jfjf64} y
[09:32] {Threei}  too bad... over 1:1
[09:32] {Threei}  RIMM sharp pullback
[09:33] {Threei}  no chance for entry
[09:33] {Threei}  waiting for another dip
[09:34] {Threei}  ok, dive under .30 and recross if holding .15 -= .20
[09:34] {Threei}  dive under .20 would be even better
[09:35] {Threei}  here it is
[09:35] {Threei}  50 cross
[09:36] {Threei}  half lot
[09:36] {Threei}  if holding .80
[09:38] {Threei}  invalidated
[09:38] {Threei} Long Setup:  LVS  .45 break
[09:39] {Threei}  stop under .35
[09:39] {magoo} in
[09:39] {Threei}  1:1, half out
[09:39] {Threei} Long Setup:  RIMM  .95 break half lot
[09:39] {Threei}  if stays above .80
[09:40] {dino} meli sm l .02 gappy
[09:40] {magoo} out .58
[09:40] {magoo} just laid it there aafter fill
[09:40] {Threei}  RIMM not a scalp if works
[09:41] {magoo} ty btw
[09:41] {Threei}  invalidated again
[09:42] {Threei}  LVS 1:2
[09:42] {Threei}  1/4 more out
[09:42] {Threei}  stop under .50
[09:44] {Threei}  (US) Preview: Aug Factory Orders due out at 10:00ET
[09:44] {Threei}  **Consensus expectation: -0.4%e v +0.1% prior
[09:44] {Threei}  ugh RIMM
[09:44] {Threei}  .70 was it
[09:45] {Threei}  missed
[09:46] {Threei} Short Setup: CAT  .20 break
[09:46] {Threei}  half lot
[09:46] {Threei}  stop for scalpers above day high
[09:46] {Threei}  day traders .30
[09:47] {Threei}  1:1
[09:47] {Threei}  scalpers are out, day traders partial
[09:48] {Threei}  stop for the balance to above .20
[09:48] {Threei}  1:2
[09:48] {Threei}  1:3, feel free to cover
[09:48] {jfjf64} out  ty
[09:48] {Threei}  30 cents in 2 min, not too shabby
[09:48] {khaln} out ty
[09:48] {jfjf64} boy oh  boy
[09:48] {Threei}  welcome guys
[09:49] {jfjf64} little rest  does  3i  GOOD
[09:49] {Threei}  what rest... weekend is so stressful time...
[09:49] {jfjf64} ditto
[09:49] {jfjf64} lol
[09:49] {Threei}  all those walks amidst gorgeous scenery... taking photos...
[09:49] {Threei}  bbqing
[09:50] {Threei}  LVS, let's jump one last time
[09:50] {jfjf64} F   Buyer
[09:50] {Threei}  want to dump last piece around .80
[09:50] {Threei}  stop to under .60
[09:50] {Threei}  1:3 LVS
[09:57] {Threei}  let's wait out numbers, then look for the next trade
[09:57] {jfjf64}  i i   3i
[09:58] {Threei}  AOL Sources say private equity firms have approached AOL CEO pitching the idea of a deal to merge AOL and Yahoo assets - Silicon Alley Insider
[10:00] {Threei}  *(US) AUG FACTORY ORDERS: -0.5% V -0.4%E
[10:00] {Threei}  *(US) AUG FACTORY ORDERS: -0.5% V -0.4%E
[10:00] {Threei}  *(US) AUG PENDING HOME SALES M/M: 4.3% V 2.8%E; Y/Y: -18.4% V 0.9%E
[10:01] {Threei}  - Prior MoM revised XXX from 5.2% to 4.5%
[10:01] {Threei}  - Prior YoY revised XXX from -20.1% to -20.7%
[10:02] {Threei}  watching RIMM for short into bounce
[10:03] {Threei}  out last LVS .77
[10:04] {Threei}  wow, too soon
[10:05] {magoo} .90 52 wk hoigh
[10:05] {Threei}  awww
[10:05] {Threei}  (JP) Tsunami Alert Issued For South Western Japan followinh 6.4 magnitude earthquake (update)
[10:06] {dino} hurn sm l .30 stop /99
[10:08] {Threei} Long Setup:  MGM  .55
[10:08] {Threei}  breakout on both intraday and daily, and LVS sympathy play
[10:08] {Threei}  look at daily
[10:09] {Threei}  if that's not an explosive chart
[10:09] {Threei}  08/03, .55 high
[10:09] {Threei}  then cup formed
[10:10] {Threei}  consolidation under .55 over last week or so
[10:10] {jfjf64} stop .50
[10:10] {jfjf64} ??
[10:10] {Threei}  let's see where it bottoms out on pullback
[10:10] {jfjf64} k
[10:10] {Threei}  so far meaningul support for day traders is .40 - .45
[10:10] {khaln} ,.
[10:11] {Threei}  .50 is kind of way too tight
[10:11] {Threei}  for supeduperextrascalpers
[10:13] {Threei}  AIG Planning to sell approx $2B in the AIA IPO to Cornerstone investors
[10:13] {davd} in mgm .48
[10:14] {Threei}  keep stop under .40 with this entry
[10:14] {davd} ii 3i
[10:15] {Threei}  full room of sailors
[10:15] {Threei}  andf poets
[10:17] {jfjf64} c/h   f
[10:18] {magoo} wynn nuts too
[10:18] {Threei}  triggering we are
[10:18] {Threei}  yeah, gambling is in high gear
[10:19] {Threei}  aggressive entry like davd's has 1:1
[10:19] {Threei}  this chart certainly deserves more though, as far as I am concerned
[10:20] {davd} not aggressive, just slow
[10:20] {Threei}  not really - it never triggered before your entry
[10:20] {Threei}  so you took it before trigger, thus aggressive
[10:20] {Threei}  let it trigger and get in on pullback is conservative
[10:20] {davd} i'll take a jeeter
[10:20] {Threei}  or slow :)
[10:21] {Threei}  looking at daily, I see no resistance up to 12
[10:21] {Threei}  slow stock of course
[10:22] {Threei}  but if market helps and sector continues this push, MGM chould be there, if not today then tomorrow
[10:22] {Threei}  stop can be safely trailed to under .45
[10:24] {dino} skx l .40
[10:25] {magoo} LVS looks like near 37 today
[10:32] {Threei} Short Setup: RIMM  .80 break
[10:32] {Threei}  if tays under .90
[10:33] {magoo} in'
[10:35] {Threei}  1:1
[10:35] {davd} in skx .36
[10:36] {magoo} waiting .56
[10:36] {magoo} futes falling
[10:37] {davd} stop skx .15 dino?
[10:38] {Threei}  DNDN Strength attributed to a Wellpoint insurance update on medical policy considering Provenge (41.32, +0.71, 1.75%)
[10:38] {dino} .25
[10:38] {khaln} ..
[10:38] {Threei}  two very good points
[10:39] {dino} out hurn .70, +.40
[10:39] {magoo} rimm ultimate target .37
[10:39] {Threei}  for all practical intents and purposes, RIMM 1:2
[10:39] {jfjf64} PIP
[10:39] {jfjf64} TY
[10:39] {magoo} unreal LVS turn
[10:41] {davd} gj on hurn.  i missed it
[10:41] {magoo} out rimm
[10:47] {jfjf64} rig  gettin  hit
[10:49] {Threei}  (CH) China Premier Wen: Major reserve currency FX rates should be kept relatively stable
[10:49] {Threei}  - Calls for exit from stimulus strategies to be coordinated; must be cautious about the pace and timing of stimulus exit strategies.
[10:50] {lilyd} x?
[10:50] {Threei}  no clean read on it
[10:50] {jfjf64} lvs  short 3i
[10:51] {lilyd} thanks
[10:51] {Threei}  no jf
[10:52] {jfjf64} .55 big support
[10:52] {jfjf64} quick  scalp
[10:52] {jfjf64} ??
[10:52] {magoo} rimm resumes downward
[10:53] {Threei}  if market makes a sharp red bar... maybe then
[10:53] {Threei}  but it doesn't feel right to me
[10:53] {jfjf64} understood
[10:53] {jfjf64} showing lots strength
[10:54] {jfjf64} wedge ing
[10:54] {dino} hurn l .43 stop lod
[10:54] {jfjf64} one way or another
[10:57] {dino} meli last try sm l .74
[10:59] {jfjf64} monster
[11:00] {Threei}  still want to short LVS?
[11:00] {magoo} [10:24] {magoo} LVS looks like near 37 today
[11:00] {jfjf64} no  didnt  break  .55
[11:00] {jfjf64} lol
[11:05] {magoo} RIMM looks ready foe next leg down
[11:07] {magoo} should lose fitty
[11:07] {Threei}  FCX
[11:07] {Threei}  watching for little bounce or consolidation, to shiort breakdown
[11:08] {davd} out skx .25 stopped
[11:12] {Threei} Short Setup: FCX  .75 break
[11:12] {Threei}  if stays under .85
[11:13] {Threei}  a little bit aggressive entry, but FCX returns to low while market bounces
[11:15] {Threei}  rug pull time, FCX
[11:15] {Threei}  1:1
[11:16] {magoo} rimm rtoo vad
[11:16] {magoo} loss .50 short
[11:16] {magoo} to .20 area
[11:16] {Threei}  this is exactly why I wanted aggressive entry on it - no chance to enter when it drops like this
[11:16] {davd} out mgm .38 stopped
[11:16] {magoo} see rimm
[11:18] {magoo} [10:38] {magoo} rimm ultimate target .37
[11:18] {Threei}  1:2 FCX
[11:18] {Threei}  successful rug pull
[11:19] {magoo} u have me on ignore todat vad? :)
[11:20] {Threei}  today?? :)
[11:20] {khaln} k
[11:20] {Threei}  I just couldn't squeze RIMM tarde together with FCX
[11:20] {Threei}  trade
[11:20] {magoo} im waiting .25
[11:20] {Threei}  two fast stocks
[11:22] {Threei}  FCX 1:3
[11:22] {Threei}  I am done with it here
[11:24] {magoo} out rimm .25
[11:24] {magoo} + .44
[11:24] {Threei}  wtg
[11:24] {Threei}  beautiful trade
06[11:24] * Threei takes magoo off ignore
[11:26] {magoo} dogs attacking someome, brb
[11:27] {khaln} post man...
[11:28] {Threei}  lol
[11:33] {magoo} back, was jehovas'es witnesses..:), sent thgem to dinos neighborhood he he
[11:34] {Threei}  cruel
[11:34] {magoo} also, they said they forgive my dogs aggressiveness roflol
[11:35] {dino} thx
[11:35] {davd} good joke magoo, re the dog forgiveness
[11:37] {magoo} no joke he he
[11:37] {dino} veco l .25
[11:37] {magoo} they asked if im familiatr with bible, said im praying most everyday in my occupation
[11:38] {RonS} lol
[11:39] {davd} in veco .25
[11:40] {khaln} they nice but they wont take no thanks ,iam not interested as an answer,
[11:46] {Threei}  they do when I say that
[11:47] {Threei}  it may help that I am frowining, scowling and growling while say that
[11:48] {jfjf64} hmm  c/h forminf lvs downside    on RADAR
[11:49] {jfjf64} GRR  missed fcx
[11:49] {jfjf64} nice  trade 3i
[11:50] {Threei}  wow
[11:50] {Threei}  a bit late, lol
[11:51] {jfjf64} my  breakfast was  good
[11:51] {jfjf64} but  fcx  looks better
[11:53] {jfjf64} lvs
[11:55] {Threei}  Google Inc Announces Google TV partners
[11:55] {Threei}  Turner Broadcasting has been hard at work optimizing some of their most popular websites for viewing on Google TV, including TBS, TNT, CNN, Cartoon Network and Adult Swim, available anytime through Google TV.
[11:55] {Threei}  adult swim eh
[11:56] {Threei}  - Partnered with some of the leading premium content providers to bring thousands of movie and TV titles, on-demand, directly to your television. Amazon Video on Demand offers access to over 75,000 titles for rental or purchase, and Netflix will offer the ability to instantly watch unlimited movies and TV shows, anytime, streaming directly to the TV.
[11:58] {Threei}  - We have also been working with some leading technology and media companies to optimize their content for Google TV, including news sites like The New York Times and USA Today; music sites like VEVO, Pandora and Napster; information networks like Twitter; and online networks like blip.tv. And with YouTube Leanback, we can offer the best experience for you to watch your favorite viral videos and personalized channels on the television.
[11:58] {Threei}  this part of the world seems to be on the verge of drastic change
[11:58] {Threei}  how does it affect DISH for instance?
[11:59] {khaln} or tivo?
[11:59] {kowboy} axp
[12:01] {jfjf64} lvs  any  takers
[12:01] {jfjf64} 1/1
[12:01] {magoo} man, mkts down 100
[12:01] {jfjf64} good stuff
[12:02] {patience}  happy days   :)    hum de hum....do i short silver?
[12:11] {jfjf64} what  silver  stocks  ya watchin patience
[12:12] {jfjf64} fdx gettin  hit
[12:14] {patience} i usually look at silver wheaton, but looking at hzd and also coeur delane, silvercorp
[12:23] {Threei}  "At this juncture . . . the impact on the broader economy and financial markets of the problems in the subprime markets seems likely to be contained,"
[12:23] {Threei}  --Ben Bernanke 3/28/2007
[12:24] {Threei}  isn't it lovely how our fearless leaders have absolutely no clue
[12:25] {Threei}  to polish on that, http://realitytrader.com/vad/Crime%20of%20the%20Century.jpg
[12:30] {Les} afternoon all. how's the day been?
[12:31] {Threei}  almost perfect
[12:31] {Les} sweet
[12:36] {dino} ffiv
[12:39] {davd} moving veco stop to .51
[12:40] {Les} what's with MSFT?
[12:41] {Threei}  was downgraded by GS in the morning
[12:41] {davd} talks fell apart on f-five dino
[12:43] {dino} thx
[12:43] {davd} veco stop at .59
[12:52] {Threei} Long Setup:  FCX  .05
[12:52] {Threei}  half lot
[12:52] {Threei}  stop .95
[12:54] {davd} in fcx .05 hlf lot
[12:55] {Threei}  if we found the bottom, thing should go to about .40 - .45
[12:55] {Threei}  worth 10 cents risk
[12:55] {Threei}  no go
[12:58] {davd} out fcx stopped .95
[12:58] {davd} out veco .79
[13:01] {davd} veco +.55
[13:01] {dino} gj
[13:01] {Threei}  AXP Responds to Govt lawsuit; have no intention of settling case
[13:02] {davd} i targeted .7 on veco, but then switched to a trailing .1 once it went over .6
[13:02] {Les} they wanna take on state mafia? good luck
[13:02] {dino} nice
[13:05] {Threei}  there is a big text to that
[13:05] {Threei}  I cam post if anyone interested
[13:05] {Threei}  - Antitrust lawsuit filed today against the company is a significant retreat from previous Department of Justice efforts to promote competition in the payments industry. The new approach would ultimately limit consumer choice, reduce competition and curtail innovation.
[13:05] {Threei}  - The governments lawsuit claims that terms of American Express merchant contracts, which protect cardmembers against discrimination and disruption at the point of sale, violate U.S. antitrust laws.
[13:05] {Threei}  - The Justice Departments proposed remedy would interfere with consumer choice at the check-out counter by steering American Express cardmembers to another payment network.
[13:05] {Threei}  - The governments new legal theory ignores a key point that the Justice Department previously made and that the courts have already decided: American Express does not have the ability to force merchants to accept its products or pricing.
[13:05] {Threei}  - CEO: "We have no intention of settling the case We will defend the rights of our cardmembers at the point of sale and our own ability to negotiate freely with merchants. We are confident that the courts will recognize the perverse anti-competitive nature of the governments case and that we will continue providing a competitive, superior service to cardmembers and merchants.The sheer number of Visa and MasterCard credit cards, and the fact that most of their customers do not carry an American Express product, makes it virtually impossible for merchants to steer customers away from the dominant networks, even if they have the right to do so. It is difficult to understand why the same agency that fought so effectively to combat anti-competitive network conduct would now undermine their own efforts by regulating our contracts in a way that limits our ability to compete."
[13:05] {Threei}  The governments one-sided remedy would put more power in the hands of Visa and MasterCard, the networks that steadily increased prices for credit card transactions over the past decade, that control over 70 percent of the market and that have ten times as many cards as American Express. Anyone familiar with antitrust matters, would realize that in the real world such market power would ultimately work to the disadvantage of merchants as well as consumers."
[13:07] {dino} wtg amex
[13:07] {Les} they obviously haven't dealt with White House yet...
[13:08] {dino} glad someone is standing up to them
[13:33] {Threei}  (US) California Supreme Court upholds state govt plan for Friday furloughs of state employees
[13:39] {magoo} LVS crushed
[14:07] {davd} dbl top on gld at 128.6?
[14:08] {davd} yesterday gld dbl top at 129
[14:33] {Threei}  Goldman Sachs head bond strategist Garzarelli: stocks are a better value than bonds; 10-year yield unlikely to fall below 2%
[14:33] {Threei}  - double dip unlikely.
[14:38] {davd} cramer bullish on axp, says would buy now
[14:47] {Threei}  I am yet to see him being right for more that couple hours
[14:47] {Threei}  this time not even that it seems
[14:49] {Threei} Short Setup: AXP  .40 break
[14:49] {kowboy} so much for the cramer effect on axp new lod
[14:49] {Threei}  oops
[14:49] {Threei}  too late
[14:49] {davd} agreed
[14:50] {Threei}  ugh... 1:1
[14:51] {Threei}  1:2
[14:51] {Les} lol you sell when Cramer says buy...
[14:51] {davd} ow well $80 down the drain.
[14:57] {Threei}  1:3
[14:57] {Threei}  shoot me now
[14:57] {jfjf64} bam
[15:02] {jfjf64} wow
[15:03] {Threei}  (FR) France Official: China appears prepared to discuss options on volatile FX rates (related EUR/CNY USD/CNY )
[15:03] {Threei}  probably this
[15:04] {magoo} back, internet crashed, i had to call al gore
[15:04] {Threei}  bs, I am not trading on no-name french expressing no-resp;onsibility opinion on what China may or may not do
[15:04] {Threei}  was he hlpful mags?
[15:04] {Threei}  after all, it's his invention...
[15:05] {magoo} i know..hence the call
[15:05] {Threei}  AXP 1:4... tear my hands off
[15:05] {Threei}  one by one
[15:05] {jfjf64} too kind
[15:05] {dino}  3i, gut call into close?
[15:05] {Threei}  ok, hook me through the upper lip and drag me through the streets by a truck
[15:05] {dino} skx wants positive
[15:05] {Threei}  down gut says
[15:05] {jfjf64} nice
[15:06] {patience} i like your gut
[15:06] {dino} hmmm, butting heads again 3i, mine says up
[15:07] {dino} out veco .85, +.60
[15:08] {jfjf64} gj
[15:09] {Threei}  1:5
[15:09] {dino} ty
[15:09] {Threei}  I am crying in the corner
[15:09] {jfjf64} not  worthly  corner    closet
[15:09] {davd} you see, this is why this group helps,  i had stop loss on axp and got out!
[15:11] {Threei}  if I called short 10 seconds sooner...
[15:14] {davd} i got in axp at 39.63
[15:14] {davd} long:(
[15:16] {Threei}  1:6... I am going to torture myself with this until I give up
[15:17] {magoo} what happened, called late, i was down
[15:17] {Threei}  1:7
[15:17] {jfjf64} atleast  wait  4  even  buck
[15:17] {Threei}  called short at 39.40 by just a few seconds late mags
[15:17] {Threei}  can't forgive mysel;f
[15:18] {magoo} figured
[15:18] {Threei}  that was trade of the day
[15:18] {magoo} al gore called, said he called it in time
[15:19] {Les} Cramer's hedge fund colleagues obviously backing up the truck...
[15:20] {davd} i feel bad for cramer, he's down a buck
[15:21] {dino} save your tears
[15:22] {Les} This one's for you James: http://www.youtube.com/watch?v=ut5A_r5iiOg
[15:23] {dino} vlccf partial fill l .44
[15:24] {Threei}  how do you trade wheat?
[15:24] {Les} DBA
[15:24] {Threei}  (RU) USDA forecasts wheat production in Russia -33% y/y due to drought conditions
[15:26] {Les} wheat's a pretty small component of DBA, but grains moving somewhat in sympathy together
[15:29] {Les} can't recall which, but China has become a net importer for first time
[15:29] {Les} wheat or corn...
[15:30] {jfjf64} fcx 3i
[15:30] {Threei}  no confident read
[15:30] {jfjf64} yup
[15:31] {jfjf64} im  tryin  to  crate  somethin  thats  not  there
[15:33] {jfjf64} see that  fake
[15:33] {jfjf64} funny
[15:35] {Threei}  yup
[15:43] {jfjf64} all done 3i
[15:43] {Threei}  Fed's Bernanke: past Fed asset purchases were effective in boosting the economy; additional asset buys could have the same effect
[15:43] {Threei}  - must stay away from Greek levels in terms of debt to gdp
[15:44] {jfjf64} greatday
[15:44] {jfjf64} ty
[15:44] {Threei}  welcome, very nice one... would have been even better if not that delay with AXP call
[15:44] {jfjf64} you  get  a pass on  axp
[15:44] {jfjf64} ty
[15:52] {Threei}  no new lows into end of day but no bounce either
[15:52] {magoo} halt LVS
[15:52] {magoo} with 10 minurtes
[15:52] {magoo} sheesh
[15:52] {Threei}  huh?
[15:52] {Threei}  wehatcha talking about?
[15:52] {magoo} it halted there
[15:53] {Threei}  LPS is hatled
[15:53] {Threei}  LVS is trading
[15:53] {magoo} or my quotes froze
[15:58] {Threei}  thank you all
[15:58] {Threei}  have a good evening, see you tomorrow
[15:58] {Les} cheers
[16:00] {dino} out vlccf -.06

Fri Oct 01 2010

Lukewarm start of the day with some wins, some stops; then just a few trades quickly turned it into great profitable end of the week. One of them made catch of the day. General feeling of the market trying to rally (not very successfully but enough t push our trade) and RIMM being close to a significant breakout level gave general idea of the trade; finding low risk aggressive entry presented us with 50 cents run with just 10 cents initial stop.

Session Time: Fri Oct 01 00:00:00 2010

[08:23] {davd} .
[08:34] {Threei}  goof point
[08:35] {Les} wasn't me
[08:37] {Threei}  try making one on your own Les... I am sure you can do it
[08:38] {nemo} what were the PCE numbers?
[08:39] {Threei}  *(US) AUG PCE CORE M/M: 0.1% V 0.1%E; Y/Y: 1.4% V 1.4%E; PCE DEFLATOR Y/Y: 1.5% V 1.5%E
[08:39] {Threei}  *(US) AUG PERSONAL INCOME: 0.5% V 0.3%E; PERSONAL SPENDING: 0.4% V 0.3%E
[08:40] {Threei}  - Personal Savings 5.8% v 5.7% m/m (revised from 5.9% prior reading)
[08:40] {Les} goofin off? yeh I'm capable of that :)
[08:40] {nemo} I thought it was your raison detre
[08:40] {Threei}  US) Fed's Dudley: Further Fed action to support the economy is likely; reiterates that Fed will not monitize debt
[08:40] {Threei}  - Current economic situation is "wholly unsatisfactory," inflation is too low and and unemployment is too high for the Fed.
[08:40] {Threei}  - The Fed has the tools it needs to assist the economy. Fed could buy medium or long-term Treasuries and mortgages.
[08:40] {Threei}  - A $500B asset purchase equals a 50-75 bps rate cut.
[08:40] {Threei}  - More explicit rate guidance, including price target comments, may be needed.
[08:41] {Threei}  heh
[08:41] {Threei}  inflation is too low and and unemployment is too high for the Fed.
[08:41] {Threei}  wfor the Fed?
[08:41] {Threei}  what to say about the populace then?
[08:41] {nemo} Fed will not monitize debt...wtf do they call the Fed buying treasuries
[08:42] {Threei}  well, they say "we will sterilize it later"
[08:42] {Threei}  so it's not a permanent debt monetization
[08:42] {nemo} keynesian economics doesn't work without inflation, nor do the banks
[08:42] {nemo} yeah, they'll sterilize it...when?
[08:42] {Threei}  that's a very good question, and tghey have just the answer:
[08:43] {Threei}  when the conditions are right
[08:43] {Threei}  there
[08:43] {nemo} Let them eat cake
[08:44] {Threei}  read this further in text:
[08:44] {Threei}  Plosser and Hoenig are part of the vocal group "reluctant to expand Fed's $2.3T portfolio" while other Fed voters such as Rosengren and Yellen (replaced retiring Donald Kohn) see high unemployment as reason for the Fed to buy more bonds.
[08:45] {Threei}  high unemployment as reason for the Fed to buy more bonds
[08:45] {Threei}  this is something to ponder for decades and fix for centuries
[08:45] {Threei}  good thing world ends in 2012
[08:45] {nemo} yeah
[08:45] {jfjf64} morni all
[08:46] {Threei}  jf :)
[08:50] {dino} gm all
[08:51] {Threei}  dino :)
[08:51] {davd} gm all, still raining here
[08:51] {Threei}  dav :)
[08:51] {davd} 3i:D
[08:52] {dino} all they need to do is lighten up on taxes and regu;ation, ie: supply side
[08:52] {Threei}  never... socialists thinking just the opposite
[08:52] {jfjf64} great chartlast night blog
[08:53] {Threei}  ty jf
[08:53] {jfjf64} creating nice referance book
[08:54] {jfjf64} helpful
[08:56] {Threei}  :)
[08:58] {Threei}  the whole idea of Fed buying bonds as a tool against unepnloyment is...
[08:59] {Les} interesting
[08:59] {Les} economics
[09:05] {_panc} morning all
[09:05] {Threei}  mornig panc
[09:05] {nemo} great now we have bodyparts as members
[09:06] {_panc} the most important bodypart when it comes to trading :-)
[09:06] {Threei}  david, relief is coming... CNN just said your rain system is finally moves away
[09:06] {dino} we've got about 5" of rain since wed night
[09:07] {dino} where you at ddr
[09:07] {Threei}  C Heairng JP Morgan making positive comments ahead of open
[09:15] {davd} i'm in westchester
[09:16] {Threei}  (US) Fed's Dudley: A smooth exit from QE is as important as its dual mandate - Q
[09:16] {davd} dino in long island?
[09:16] {Threei}  Unclear what the US economy's "natural" unemployment rate should be in the long term
[09:16] {Threei}  - On track for 2% GDP growth
[09:17] {Threei}  as far as I am concerned, unemployed Fed would have been a very natural
[09:17] {Les} nice looking area - Westchester - at least on Google maps
[09:18] {Threei}  - Regarding QE2, will not "prejudge" what he will advocate at the November meeting
[09:18] {Les} where can I track you down to Nemo - on the map?
[09:18] {davd} yes, i overlook the hudson river
[09:20] {ese} morning
[09:21] {Threei}  ese :)
[09:21] {Les} looking at some photos of Bear Mountain bridge - beautiful area
[09:21] {Threei}  just look at the area where ese lives and golfs
[09:21] {Threei}  you'll be stunned
[09:22] {davd} i was at bear mtn this past weekend.  for a county fair.
[09:22] {Les} where are you ese? - let Google maps be my guide...
[09:24] {ese} in Victoria
[09:25] {ese} British Columbia, Canada
[09:25] {Les} where are you playing golf?
[09:26] {ese} there and at a club called Cordova Bay.......close to vads place
[09:28] {Les} can't find yours, but heck how many golf clubs does Victoria need?
[09:29] {dino} 14 at one time
[09:29] {Les} Upland, Mt Douglas, Royal Oak, Olympic view...
[09:29] {Les} Now wonder Victoria is so dang expensive...
[09:29] {ese} Royal Victoria.......played by Ben Hogan
[09:32] {Threei}  RIMM
[09:32] {Threei}  sharp drop, watching for bounce
[09:33] {Threei} Long Setup:  RIMM  .30 break half lot
[09:33] {Threei}  invalidated
[09:33] {Threei}  lol, never mind
[09:33] {Threei}  gotta let morning vilatility to work itself out
[09:33] {jfjf64} wow
[09:34] {magoo} ACN up pretty good
[09:35] {Threei}  ACN
[09:35] {Threei}  0.002 per share
[09:35] {Threei}  oops
[09:35] {Threei}  Accenture Ltd Reaches New Agreement with U.K. Government
[09:35] {Threei}  - Has reached agreement on a Memorandum of Understanding (MOU) with Her Majestys Government (HMG) on existing work across the government and has put forward proposals on how efficiencies could be achieved in any future work.
[09:35] {Threei}  - Under the agreement, all current contracts have been retained and will be delivered according to plan. Accenture continues to build on its past performance of strong work, and the MOU marks a new phase in the successful relationship with HMG.
[09:36] {Threei}  (US) Preview: Sept Final University of Michigan Confidence Index due out at 09:55ET
[09:36] {Les} ACN looks like coming down
[09:37] {Les} oops
[09:37] {magoo} hit .25 5 times..up
[09:38] {Threei} Short Setup: FCX  .65 half lot
[09:38] {ese} i'm agreeing with dino
[09:38] {Threei}  .80 stop
[09:38] {ese} i hate these big up days to start
[09:39] {dino} :)
[09:40] {Threei}  1:1
[09:41] {gregns} .
[09:42] {Threei} Short Setup: GS  145 break
[09:42] {Threei}  smaller shares
[09:42] {Threei}  if stays under .20
[09:42] {gregns} #qwert
[09:43] {Les} wow RIMM
[09:43] {Threei}  (US) Preview: August Construction Spending due out at 10:00ET
[09:43] {Threei}  (US) Preview: Sept ISM Manufacturing Index due at 10:00 ET
[09:44] {Les} aapl selloff
[09:46] {ese} L xlnx
[09:46] {ese} .40
[09:47] {dino} downgrade to sell gs xlnx fwiw
[09:48] {ese} out xlnx .53
[09:48] {ese} +.15
[09:48] {dino} nice
[09:48] {ese} tks
[09:49] {jfjf64} rimm
[09:50] {jfjf64} shrug  100x
[09:50] {magoo} should be a ashort rimm
[09:50] {dino} mon l .99
[09:52] {jfjf64} gs
[09:53] {davd} in mon .9
[09:54] {magoo} sheesh ACN
[09:54] {jfjf64} x bounce
[09:54] {RonS} rvbd
[09:55] {Threei}  5 min till numbers
[09:56] {Threei}  *(US) SEPT FINAL UNIVERSITY OF MICHIGAN CONFIDENCE: 68.2 V 67.0E
[09:58] {jfjf64} lvs  3i
[09:58] {jfjf64} bounce
[09:59] {Threei}  don't wanrt to open position having numbers coming
[09:59] {jfjf64} k
[09:59] {jfjf64} wanted  nother leg  dn
[09:59] {jfjf64} .85
[09:59] {jfjf64} not exact  science
[10:00] {Les} watching hpq return to 41 or rollover and death .80
[10:01] {Threei}  *(US) AUG CONSTRUCTION SPENDING M/M: 0.4% V -0.4%E
[10:01] {Threei}  *(US) SEPT ISM MANUFACTURING: 54.4 V 54.5E; PRICES PAID: 70.5 V 59.0E
[10:02] {Les} that isn't inflation is it?
[10:03] {Les} hpq .80 b/d?
[10:03] {dino} out mon b/e
[10:03] {RonS} last mo revised down?
[10:03] {Threei}  construction yes
[10:04] {Threei}  Prior revised lower from -1.0% to -1.4%
[10:05] {RonS} imax
[10:05] {dino} pru sm l .60
[10:07] {Threei} Short Setup: LVS  .90 break
[10:07] {Threei}  if stays under 35
[10:07] {Threei}  invalidated for now
[10:09] {Threei} Short Setup: FCX  .40 break half lot
[10:09] {Threei}  wow
[10:09] {Threei}  that was waaay too fast
[10:10] {dino} mon sm l .99
[10:10] {Les} lvs again
[10:10] {Threei}  stop above .50
[10:11] {Threei}  LVS short is valid again
[10:12] {Threei}  no go FCX
[10:13] {magoo} how about GS short?
[10:13] {Les} GDX 57 GLD 129
[10:13] {Threei}  .40 break GS
[10:14] {dino} aaww gap fill
[10:14] {magoo} unless mkt rip
[10:14] {Threei}  .60 invalidates it
[10:14] {dino} sm l .99
[10:14] {RonS} euro hod, coal strong
[10:14] {Threei}  messy market
[10:15] {magoo} bidu could bounce vads
[10:16] {Threei}  don't like it at all
[10:16] {magoo} news on it?
[10:16] {Threei}  no
[10:16] {RonS} nflx off $20 in 2 days
[10:17] {Les} GLD 129 break?
[10:18] {Threei}  pullback to .70, I'd be interested
[10:18] {Threei}  break on GLD rarely works
[10:20] {Threei} Short Setup: RIMM  .490 break
[10:20] {Threei}  .40
[10:20] {Threei}  not a scalp, should be capable of more
[10:21] {Threei}  1:1
[10:21] {Threei}  half out
[10:22] {Threei}  stop to above b/e
[10:23] {Threei}  balance stopped
[10:24] {davd} in gs .4
[10:26] {magoo} careful, futes falling
[10:27] {magoo} aapl trashed
[10:27] {Les} now RIMM will drop
[10:28] {magoo} yea
[10:29] {Les} spank that playbook
[10:29] {Threei}  whole market feels like unraveling today
[10:30] {Threei} Short Setup: GLD  .90 break
[10:31] {Threei}  stop for scalpers above 129, for day traders day high
[10:32] {davd} in GLD short .9
[10:32] {Threei}  scalpers 1:1
[10:32] {magoo} FCX wrecked
[10:33] {Threei}  day traders 1:1
[10:36] {Threei} Long Setup:  X  .50 break half lot
[10:37] {Threei}  invalidated
[10:40] {davd} out gld partial .7 +.2
[10:41] {Threei}  stop for the balance to above b/e, davd
[10:42] {davd} roger that
[10:42] {magoo} mkts near red
[10:44] {ese} near red..........man it's communism here
[10:44] {davd} vad, is it near communism?
[10:45] {Threei}  marcging in that direction
[10:45] {Threei}  matching
[10:45] {Threei}  marching
[10:45] {Threei}  there... and you thought I couldn't type
[10:46] {ese} lol
[10:46] {magoo} have a drink vad:)
[10:49] {magoo} ok, enough vad, put bottle down and rejoiin conv
[10:50] {Threei}  sigh
[10:50] {dino} xrtx l .25 stop .11
[10:50] {Threei}  these conflicting messages... gulp
[10:52] {davd} in xtrx .21
[10:57] {Les} watching ACN for lower high here. 100 MA support .35
[10:59] {dino} xrtx stopped
[11:00] {davd} xrtx stopped
[11:00] {Les} HPQ dino. u like?
[11:01] {dino} y
[11:01] {Les} not tempted yet. but as it gets up to 41...
[11:01] {davd} out gs .6 +.2
[11:02] {dino} gj
[11:02] {dino} crr drop
[11:02] {Threei} Long Setup:  FCX  87 break
[11:02] {Threei}  half lot
[11:02] {davd} out last partial break even
[11:02] {davd} gld
[11:04] {davd} in fcx .93 small
[11:06] {davd} panic is a userid?
[11:06] {_panc} panc not panic
[11:07] {davd} sorry ;)
[11:07] {_panc} :-)
[11:07] {davd} stop on fcx threei?
[11:08] {Threei}  ?
[11:08] {Threei}  ot never triggered
[11:08] {Threei}  it
[11:08] {Threei}  and got invalidated
[11:10] {davd} yea, thought it might, i misread 87, my fault, i'm in small
[11:12] {kowboy} gmcr nice solume
[11:12] {kowboy} volume
[11:18] {davd} bama on - was wondering when he would speak today?
[11:19] {dino} syna sm l .00
[11:19] {magoo} LVS near low cvad
[11:19] {Threei}  no clean setup
[11:20] {Threei}  davd, today he is in his own backyard though
[11:20] {Threei}  instead of invading someone's
[11:21] {Les} what, helping that loud mouth chief of staff of his to get a cushy job in Detroit?
[11:21] {davd} in syna .00 small
[11:23] {Threei}  not sure how mayor of Chicago is a cushy job in Detroit
[11:24] {Threei}  but whatever :)
[11:24] {RonS} same thing to an auzzie is switzerland...:D
[11:24] {RonS} in
[11:24] {Threei} Long Setup:  AMZN  153 break smaller shares
[11:25] {Threei}  if stays above .80 - .85
[11:25] {Threei}  (US) Connecticut AG Blumenthal calls for a freeze in foreclosures following recent information regarding faulty procedures (related BAC JPM GM XHB XLF )
[11:26] {Threei}  (US) President Obama formally announces Rahm Emmanuel's departure
[11:26] {Threei}  depart already
[11:26] {RonS} ...isn't he running for Senate?...election ploy
[11:27] {Threei}  invalidated
[11:28] {Les} detroit, chicago... whatever
[11:29] {RonS} ...did you see the O boast to U of Wis studenmts that he has accomplished 70% of what he wanted?  I guess he only has 30% of the rest of the country to ruin...
[11:29] {Les} hehehe
[11:30] {dino} lol
[11:32] {Threei} Short Setup: AMAZN  .70 break
[11:32] {Threei}  same thing - smallish shares, stop above 153
[11:33] {Threei}  not a scalp to me
[11:34] {Threei}  (US) Fed's Evans: Unconvential tools are the best option; concerned could be in a liquidity trap; US companies have a cautious outlook
[11:34] {Threei}  - Risk aversion could stifle a meaningful recovery, it is currently desirable to ease monetary policy further which could increase aggregate demand
[11:34] {Threei}  unconvential tools eh
[11:34] {Threei}  sigh
[11:36] {Threei}  no worky
[11:36] {magoo} mkt reversed
[11:36] {Threei}  or just bounced a bit
[11:36] {Threei}  hard to tell today
[11:37] {Threei}  US) EPA to propose raising fuel economy to 47-62 mpg by 2025
[11:37] {Threei}  ***Reminder: On 09/15 the DoT and EPA jointly proposed higher fuel economy in 2012-16, raising bar to 35.5 mpg overall.
[11:37] {Threei}  imbeciles
[11:38] {RonS} how is an electric rated?
[11:39] {Threei}  F.IT Chrysler reports US vehicle sales +61% y/y; to 100K units
[11:39] {Les} are they joking? We have 60MPG already
[11:39] {RonS} 1 pound of coal per mile?...
[11:39] {Les} diesel baby...
[11:40] {RonS} rudolph
[11:40] {Threei}  lol
[11:41] {Les} well yeh, if it's GM planning for that sort of mileage
[11:41] {davd} moving mon stop to .88 dino.
[11:41] {Les} they'll need father christmas
[11:41] {dino} ok
[11:42] {RonS} rudolph diesel Les...come'on...;)
[11:42] {Les} well there you go. learn something new every day
[11:42] {Threei}  hey, try to shoot some turpentine up its butt and see what happens
[11:43] {Les} I still think EPA will need father christmas
[11:43] {magoo} lvs had nice rip after i mentioned
[11:44] {Threei}  RIMM stranegly stalled
[11:45] {Threei}  ,RIMM} who, me?
[11:49] {davd} moved mon stop to .09
[11:54] {davd} moved mon stop to .14
[11:54] {RonS} pretty funny...they gave Rahm a dead fish wrapped in Chi newspaper as a going away present...
[11:55] {Threei}  nice humor
[11:55] {dino}  at .19
[11:55] {Threei}  Don Corleone would be proud of them
[11:56] {RonS} ...seems to work here...slap!...
[11:59] {davd} out .21
[11:59] {davd} out mon .21
[12:00] {Threei}  questinable day so far
[12:00] {dino} out mon +.20
[12:00] {Threei}  can't find too many reliable plays
[12:00] {magoo} second day in row open gap was sold off, ie failed
[12:01] {Threei}  yes... but yesterday was easier
[12:01] {Threei}  today is disjointed
[12:01] {davd} gj +.31
[12:01] {Threei}  dino and davd make money though... irritating...
[12:01] {Threei}  {G}
[12:01] {magoo} especially davd he he
[12:02] {Threei}  hey, when it comes to irritation I do not discriminate {G}
[12:06] {Threei}  F Reports Sept US sales 46% to 160.8K units
[12:09] {dino} magoo you up?
[12:11] {davd} moving syna stop to .94 dino?
[12:11] {kowboy} Vad a minus or plus 46%
[12:13] {kowboy} sorry i understand
[12:13] {dino} y
[12:14] {Threei}  + :)
[12:14] {Threei}  that's how line went, I had to look into breakdown to figure it out
[12:14] {Threei}  (US) SEC releases official report on May 6th "flash crash"
[12:14] {Threei}  - The broad-based increase in risk on May 6 was evidenced by a number of indicators. Premiums on credit default swaps increased for a number of European sovereign debt securities, including debt from Greece, Portugal, Spain, Italy, and Ireland. In addition, the Euro experienced downward pressure in global currency markets.
[12:14] {Threei}  - In the course of the day, the S&P 500 volatility index (VIX), a measure of the expected volatility of the S&P 500 Index, increased by 31.7 percent, which was the fourth largest single-day increase in VIX. Prices on gold futures rose 2.5%, while yields of ten-year Treasuries fell nearly 5% as investors engaged in a flight to quality.
[12:17] {dino} we paid how many millions for that? it's a history report, sheesh...
[12:18] {Threei}  For full report, please see http://www.sec.gov/news/studies/2010/marketevents-report.pdf
[12:28] {dino} gmcr gap fill july
[12:32] {dino} meli retest yesterdays fast fall
[12:44] {dino} vlccf l .63
[12:51] {ese} . nah i'm here but i gotta go....have a great weekend
[12:52] {Threei}  take care ese
[12:52] {Threei}  great wetaher, I guess golf is in order gor him
[12:52] {davd} in vlccf .65
[12:53] {dino}  cya
[12:55] {davd} stop vlccf .5?
[12:57] {dino} .49
[12:58] {davd} gracias
[12:59] {kowboy} gmcr
[13:03] {dino} pru slow climb
[13:06] {magoo} jpm
[13:07] {Threei} Long Setup:  RIG  .25
[13:07] {Threei}  if stays above .15
[13:17] {magoo} news jpm??
[13:17] {Threei}  11:23:56
[13:17] {Threei}  (US) Connecticut AG Blumenthal calls for a freeze in foreclosures following recent information regarding faulty procedures
[13:17] {Threei}  - Reminder: Ally Bank and JP Morgan have both disclosed that some employees signed foreclosure affidavits without reading them, and Ally Bank acknowledged that some employees were submitting affidavits in foreclosure proceedings without personally verifying the documents' contents.
[13:17] {Threei}  that's all
[13:17] {Threei}  nothing fresh
[13:18] {magoo} i like amzn long, and u?
[13:19] {Threei}  153 break... could be
[13:20] {davd} in RIG .22
[13:21] {Threei}  stopped
[13:23] {davd} stopped rig
[13:27] {dino} cgnx
[13:29] {dino} bid seller at .00
[13:30] {dino} out pru +.29
[13:34] {Threei}  For Second Straight Month, Number of Democrats in U.S. Falls to Record Low
[13:36] {magoo} i know for factr dino just left dem party
[13:37] {Threei}  lol
[13:37] {dino} never was a dem
[13:41] {magoo} vad, was there news AMZN?
[13:41] {dino} syna stopped-.04
[13:41] {magoo} death
[13:45] {magoo} wow vads really looking for news
[13:46] {Threei}  lol
[13:46] {Threei}  there was not
[13:47] {Threei}  unless you consider downgrade by no name firm
[13:47] {davd} out syna stopped .94
[13:47] {Threei}  a news
[13:47] {magoo} which stock? lol
06[13:48] * Threei slaps magoo around a bit with a large bottle of memory pills
[13:52] {Threei}  something is so off about today, can't quite put my finger on it but it's in the air
[13:54] {dino} feels like summer friday
[13:54] {Threei}  something else..
[13:55] {Threei}  in the summer it's just complacency
[13:55] {Threei}  today, there is a distinctive smell of fear in the air
[13:55] {dino} cml
[13:57] {patience} bought HGD today (gold bear etf).  I'm a strong gold bull but taking a shot at next few weeks being down weeks.   very unscientific   :)  
[13:58] {dino} gut i call it
[13:59] {davd} check to see if hgd actually works, i.e. chart it vs, gld over 3 months and see that it does move inverse.
[13:59] {patience} yup
[14:00] {patience} up until recently i have been swing trading, but have found i'm switching back to scalping
[14:00] {patience} refreshing my techniques for scalping options
[14:00] {patience} it's been awhile
[14:00] {dino} you'll do fine
[14:00] {dino} fwiw i'm in scalp mode too
[14:01] {patience} feel like Rocky, training for the big fight    :)
[14:04] {dino} as long as you don't look like him
[14:04] {dino} :)
[14:07] {dino} hpq hl l .50
[14:07] {dino} stop lod
[14:21] {dino}  sm l cgnx .99
[14:24] {davd} in cgnx .99
[14:26] {dino} stop lod
[14:26] {Threei} Long Setup:  RIMM  .75 break
[14:26] {Threei}  if stays above .65
[14:29] {magoo} question is do mkts sell off into bell?
[14:29] {Threei}  that's THE question
[14:29] {Threei}  and my gut says, no
[14:29] {Threei}  up we go, says gut
[14:29] {magoo} part 2: and if so is vad smart enough to recognize and profit from it
[14:30] {RonS} rimm break of 50.00 ought to trigger some short covering...
[14:30] {magoo} part 3: is magoo smart enough to listen to man he pays for advice?
[14:31] {davd} in rimm .72
[14:32] {magoo} ive found it doesnt usually pay to jump vads triggers davd
[14:33] {RonS} ...but he did not jump, it did trigger earlier mags...
[14:34] {magoo} ah, sorry
[14:34] {Threei}  but mags was too busy thinking aof another sniping remark to notice that {G}
[14:34] {magoo} u got that correct:)
[14:34] {davd} thanks - i kept quiet because i didn't know.  i waited for it to go below .75 and watched that it held above .65 and then bought when i thought
[14:35] {magoo} that would be best left unsaid davd HE HE
[14:37] {Threei}  1:1
[14:37] {Threei}  half out or scalp
[14:37] {Threei}  your choice
[14:39] {Threei}  if partialling, stop for the balance to under b/e
[14:39] {Threei}  and offer 1/4 more around .93 - .95
[14:39] {davd} out rim 1/2 lot .84
[14:40] {davd} dino cgnx up on hi volume
[14:41] {dino} see it
[14:44] {Threei}  formally you can trail RIMM stop to .78 now... although I am not sure it's worth it
[14:45] {Threei}  just if doing thingss by the book, that's how you'd do it
[14:45] {dino} who's book
[14:46] {Threei}  just book
[14:46] {Threei}  generic
[14:46] {dino} :D
[14:46] {Threei}  you know... as in conversation of two gals discussing what to buy as a present for a boyfriend
[14:46] {Threei}  "buy him a book?"
[14:46] {Threei}  "no, he already has a book"
[14:47] {dino} whats the soup jour? i don't know but they have it everyday
[14:47] {davd} cgnx stop to .98
[14:47] {Threei}  second target hit
[14:47] {dino} y to b/e
[14:47] {RonS} out rimm .92  +.15
[14:48] {RonS} ty 3i...
[14:48] {Threei}  sure thing
[14:48] {davd} out rimm .90 second half
[14:49] {Threei}  now, last part:
[14:49] {Threei}  stop to under .80
[14:49] {Threei}  and try for above 50
[14:49] {Threei}  if breaks .95 from here, stop trailed to .85
[14:54] {davd} cgnx stop to .16
[14:56] {davd} cgnx stopped .16
[14:56] {Threei}  .95 broken, .85 held
[14:56] {Threei}  stpp trailed to .84
06[14:58] * Threei slaps magoo around a bit with a large banner asking "HAVE YOU FOLLOWED THE WINNING TRADE CALLED FOR YA??"
[14:58] {dino} jumpy cgnx
[14:58] {magoo} u gonna be upset
[14:58] {Threei}  lord, how I missed slapping magoo with variety of subjects of various size and weight
[14:59] {RonS} wow big 50 offers rimm
[14:59] {Threei}  look at daily
[14:59] {Threei}  huge resistance here
[14:59] {Threei}  now you have a choice:
[14:59] {Threei}  take 1:3 if it breaks, or just trail
[14:59] {Threei}  and try to maximize it
[15:00] {RonS} yep, that's why i thought a break would be meaningful...
[15:00] {dino} hpq to .54
[15:01] {Threei}  take down that wall RIMM
[15:03] {Threei}  RIMM: what wall?
[15:04] {Threei}  look at the volume spike produced by digesting those offers
[15:04] {Threei}  1:3
[15:04] {Threei}  1:4
[15:05] {jfjf64} ty  ty
[15:05] {Threei}  yw yw
[15:05] {RonS} her comes the shorts...
[15:05] {jfjf64} yes
[15:07] {Threei}  1:5
[15:07] {Threei}  I am out
[15:07] {RonS} classic vad
[15:07] {dino} wtfg
[15:07] {jfjf64} yes
[15:08] {jfjf64} wtfg
[15:08] {jfjf64} lk that
[15:08] {Threei}  lol
[15:08] {jfjf64} keep  ya  round  3i
[15:08] {jfjf64} lol
[15:09] {jfjf64} maybe  one  day  i  cd  be  lk ya
[15:09] {jfjf64} time  4  scotch
[15:10] {Threei}  1:7
[15:10] {Threei}  not in of course... jjust being pedantic
[15:11] {jfjf64} let ne  get  my dictinary  out
[15:11] {jfjf64} got  me
[15:11] {RonS} ...don't confuse Les...:D
[15:12] {dino} out vlccf .74, +.11
[15:12] {magoo} magoo loking thru PICtgionary
[15:12] {Threei}  this single trade turned lukewarm day into very decent one
[15:13] {jfjf64} my  week
[15:13] {jfjf64} lol
[15:14] {Threei}  (US) Reminder: Dallas Fed President Fisher to speak at 15:15ET
[15:18] {davd} out vlccf .73
[15:18] {dino} this administration thinks they are rock stars or something, always on tv
[15:19] {RonS} ...trying to be Big Brother, failing at it...
[15:20] {dino} they should just get out of the way and shut up
[15:21] {RonS} ...even John Stewart is skerewing them...made a joke last night that O and bill Ayres were shredding the Constitution
[15:21] {dino} finally a liberal sees the light
[15:22] {RonS} ...but will the koolaid drinkers...
[15:22] {Threei}  so, a question:
[15:22] {Threei}  let's be happy with this 50 cents RIMM win and go home a profitable and happy,
[15:22] {Threei}  or let's try and push for one more, risking to give some back?
[15:23] {magoo} pushhhhhhhhh
[15:23] {jfjf64} latter here
[15:23] {Threei}  wow... breathe mags, brreathe
[15:23] {magoo} will u hold my hand.?
[15:23] {Threei}  this blue shade in face can't be healthy
[15:24] {Threei}  OK, let's do half lots, OK?
[15:24] {RonS} i'll drink to that
[15:24] {jfjf64} salute
[15:24] {Threei}  don't want to give back too much in Fri closing volaitlity and possibkle whipsaw
[15:24] {Threei} Long Setup:  TZA  .45
[15:24] {Threei}  break
[15:25] {Threei}  stop under .35
[15:25] {Les} 50 cents on RIMM? cool...
[15:26] {Les} 50 break?
[15:26] {Threei}  no
[15:26] {Threei}  49.75
[15:26] {Threei}  with exit at 50.25
[15:26] {Les} I see it
[15:27] {davd} long TZA .43
[15:27] {Threei}  not too shabby for 10 cents risk
[15:27] {dino} ugh vlccf
[15:27] {Les} laserdave keeping me out of the action aaaaawwwwwwww man
[15:27] {davd} yea - just saw!  it happens
[15:28] {davd} at least not a rinse
[15:28] {dino} y
[15:28] {Threei}  move your butt TZA
[15:29] {Threei}  while we are young
[15:29] {Threei}  well... maybe too late for me
[15:29] {davd} isnt shorting un-american?
[15:29] {Threei}  it is... but I am not american
[15:29] {dino} no
[15:29] {Threei}  1:1
[15:30] {jfjf64} ty
[15:30] {jfjf64} ty
[15:30] {magoo} nive cad
[15:30] {RonS} depends on if you are a midget...ok...bad joke...
[15:30] {Threei}  yw yw
[15:30] {Threei}  mank you thagoo
[15:31] {Les} nice call on market turn there. very precise
[15:31] {Threei}  that's my middle name
[15:31] {Threei}  you should see me dividing a bottle of vodka by three glasses
[15:32] {Threei}  precision thy name o vodka handler
[15:32] {Les} what was the tell? db TZA?
[15:32] {nemo} shot glasses for you friends and a mug for you
[15:32] {magoo} in vodka 1/3 :)
[15:32] {Threei}  rofl
[15:32] {Threei}  two tells Les
[15:33] {Threei}  one is general feeling that market prepared surprise drop
[15:33] {Threei}  another is familar reversal setup that you can see if zoom in on TAZ 1 min chart
[15:34] {Threei}  descending channel for a while, then a few bars touch flat horisontal bottom,
[15:34] {Threei}  not making new lows anymore,
[15:34] {Threei}  then upper envelope gets broken
[15:34] {Threei}  classic bounce formation
[15:34] {dino} hpq to .60
[15:35] {davd} gutsy playing hpq today dino :O
[15:35] {dino} not really, mkt defined it
[15:36] {dino} they are all coin tosses davd, just find an edge
[15:36] {RonS} ...blaming the flash crash on a trade from Waddle & Reed...lol
[15:37] {Threei}  shrug
[15:37] {dino} shrek
[15:37] {Threei}  so, let me share anotgher secret with you
[15:37] {Threei}  how to divide the bottle by three glasses
[15:38] {Threei}  classic russian vodka bottle contains .5 litre,
[15:38] {Threei}  if you turn it uopside down, it pours out in portions with GLUG sound
[15:38] {Threei}  bottle contains 21 glugs,... pour 6 glugs in each glass
[15:38] {Threei}  7
[15:38] {dino} lol
[15:39] {Threei}  you'll have to find out for .75 litres bottle by way of experiemnt
[15:39] {RonS} ...but Les can't count that high...:D
[15:39] {jfjf64} ya  scaring me    im really readin  and  shakin  head    hmm
[15:39] {Threei}  well... there is just so much I can teach :)
[15:39] {dino} smci spike
[15:39] {magoo} [15:36] {&Threei}  bottle contains 21 glugs,... pour 6 glugs in each glass
[15:39] {magoo} truly amazing
[15:39] {Les} that's pretty pathetic Ron
[15:39] {dino} too fast
[15:39] {jfjf64} my teacher  is  a drunk
[15:40] {RonS} smci reverse flash crash...
[15:40] {jfjf64} lol
[15:40] {Les} You'll have to do better than that if you want to replace Nemo
[15:40] {Threei}  well mags... there are three kinds of people... first kind can count and second can't
[15:40] {RonS} ...no kidding Les...am not really trying to...
[15:40] {Les} I have the .75 but there ain't no way I'd be pouring that much Vodka....
[15:40] {dino} out hpq .67, +.17
[15:41] {RonS} gj dino, that lkind of stock is really thick...
[15:41] {dino} thx
[15:43] {dino} pru lod
[15:45] {RonS} cme response to flash report:
[15:45] {RonS}  The report references a series of bona fide hedging transactions, totaling 75,000 contracts, entered into by an institutional asset manager to hedge a portion of the risk in its $75 billion investment portfolio in response to global economic events and the fundamentally deteriorating market conditions that day.  The 75,000 contracts represented 1.3% of the t
[15:45] {RonS} of the total E-Mini volume of 5.7 million contracts on May 6 and less than 9% of the volume during the time period in which the orders were executed.  The prevailing market sentiment was evident well
[15:46] {RonS} ...in other words they are calling bullshit...
[15:46] {Threei}  so their point is, SEC is wrong?
[15:46] {davd} tza to .70
[15:46] {Threei}  yup
[15:46] {Threei}  thought so
[15:48] {jfjf64} lvs  short  here
[15:48] {jfjf64} .14
[15:48] {jfjf64} ?
[15:49] {Threei}  looks like
[15:49] {Threei}  just keep your eyes on watch
[15:49] {jfjf64} hold .20
[15:49] {jfjf64} tight
[15:50] {jfjf64} needs to  go  this  min
[15:53] {dino} aveo
[15:53] {RonS} done here...thanks all and good weekend to you.  ;)
[15:53] {dino} cya
[15:53] {jfjf64} print it
[15:54] {Threei}  take care Ron, have a good one
[15:55] {dino} ioc
[15:56] {davd} out tza .7
[15:57] {jfjf64} good  weekend  all
[15:57] {jfjf64} ty 3i
[15:57] {Threei}  thank you all
[15:57] {Threei}  good way to finish the week
[15:57] {Threei}  have a great weekend
[15:57] {Threei}  see you all on Monday
[15:58] {jfjf64} wil ya be posting chart on  blog
[15:58] {dino} out cgnx .17, +.18
[15:59] {magoo} nivce come back vad
[16:01] {Threei}  yes jf
[16:01] {dino} all day out aaww +.12
[16:03] {Les} ciao bon weekend all
[16:04] {dino} thx all

Fri Oct 01 2010

Lukewarm start of the day with some wins, some stops; then just a few trades quickly turned it into great profitable end of the week. One of them made catch of the day. General feeling of the market trying to rally (not very successfully but enough t push our trade) and RIMM being close to a significant breakout level gave general idea of the trade; finding low risk aggressive entry presented us with 50 cents run with just 10 cents initial stop.

Session Time: Fri Oct 01 00:00:00 2010

[08:23] {davd} .
[08:34] {Threei}  goof point
[08:35] {Les} wasn't me
[08:37] {Threei}  try making one on your own Les... I am sure you can do it
[08:38] {nemo} what were the PCE numbers?
[08:39] {Threei}  *(US) AUG PCE CORE M/M: 0.1% V 0.1%E; Y/Y: 1.4% V 1.4%E; PCE DEFLATOR Y/Y: 1.5% V 1.5%E
[08:39] {Threei}  *(US) AUG PERSONAL INCOME: 0.5% V 0.3%E; PERSONAL SPENDING: 0.4% V 0.3%E
[08:40] {Threei}  - Personal Savings 5.8% v 5.7% m/m (revised from 5.9% prior reading)
[08:40] {Les} goofin off? yeh I'm capable of that :)
[08:40] {nemo} I thought it was your raison detre
[08:40] {Threei}  US) Fed's Dudley: Further Fed action to support the economy is likely; reiterates that Fed will not monitize debt
[08:40] {Threei}  - Current economic situation is "wholly unsatisfactory," inflation is too low and and unemployment is too high for the Fed.
[08:40] {Threei}  - The Fed has the tools it needs to assist the economy. Fed could buy medium or long-term Treasuries and mortgages.
[08:40] {Threei}  - A $500B asset purchase equals a 50-75 bps rate cut.
[08:40] {Threei}  - More explicit rate guidance, including price target comments, may be needed.
[08:41] {Threei}  heh
[08:41] {Threei}  inflation is too low and and unemployment is too high for the Fed.
[08:41] {Threei}  wfor the Fed?
[08:41] {Threei}  what to say about the populace then?
[08:41] {nemo} Fed will not monitize debt...wtf do they call the Fed buying treasuries
[08:42] {Threei}  well, they say "we will sterilize it later"
[08:42] {Threei}  so it's not a permanent debt monetization
[08:42] {nemo} keynesian economics doesn't work without inflation, nor do the banks
[08:42] {nemo} yeah, they'll sterilize it...when?
[08:42] {Threei}  that's a very good question, and tghey have just the answer:
[08:43] {Threei}  when the conditions are right
[08:43] {Threei}  there
[08:43] {nemo} Let them eat cake
[08:44] {Threei}  read this further in text:
[08:44] {Threei}  Plosser and Hoenig are part of the vocal group "reluctant to expand Fed's $2.3T portfolio" while other Fed voters such as Rosengren and Yellen (replaced retiring Donald Kohn) see high unemployment as reason for the Fed to buy more bonds.
[08:45] {Threei}  high unemployment as reason for the Fed to buy more bonds
[08:45] {Threei}  this is something to ponder for decades and fix for centuries
[08:45] {Threei}  good thing world ends in 2012
[08:45] {nemo} yeah
[08:45] {jfjf64} morni all
[08:46] {Threei}  jf :)
[08:50] {dino} gm all
[08:51] {Threei}  dino :)
[08:51] {davd} gm all, still raining here
[08:51] {Threei}  dav :)
[08:51] {davd} 3i:D
[08:52] {dino} all they need to do is lighten up on taxes and regu;ation, ie: supply side
[08:52] {Threei}  never... socialists thinking just the opposite
[08:52] {jfjf64} great chartlast night blog
[08:53] {Threei}  ty jf
[08:53] {jfjf64} creating nice referance book
[08:54] {jfjf64} helpful
[08:56] {Threei}  :)
[08:58] {Threei}  the whole idea of Fed buying bonds as a tool against unepnloyment is...
[08:59] {Les} interesting
[08:59] {Les} economics
[09:05] {_panc} morning all
[09:05] {Threei}  mornig panc
[09:05] {nemo} great now we have bodyparts as members
[09:06] {_panc} the most important bodypart when it comes to trading :-)
[09:06] {Threei}  david, relief is coming... CNN just said your rain system is finally moves away
[09:06] {dino} we've got about 5" of rain since wed night
[09:07] {dino} where you at ddr
[09:07] {Threei}  C Heairng JP Morgan making positive comments ahead of open
[09:15] {davd} i'm in westchester
[09:16] {Threei}  (US) Fed's Dudley: A smooth exit from QE is as important as its dual mandate - Q
[09:16] {davd} dino in long island?
[09:16] {Threei}  Unclear what the US economy's "natural" unemployment rate should be in the long term
[09:16] {Threei}  - On track for 2% GDP growth
[09:17] {Threei}  as far as I am concerned, unemployed Fed would have been a very natural
[09:17] {Les} nice looking area - Westchester - at least on Google maps
[09:18] {Threei}  - Regarding QE2, will not "prejudge" what he will advocate at the November meeting
[09:18] {Les} where can I track you down to Nemo - on the map?
[09:18] {davd} yes, i overlook the hudson river
[09:20] {ese} morning
[09:21] {Threei}  ese :)
[09:21] {Les} looking at some photos of Bear Mountain bridge - beautiful area
[09:21] {Threei}  just look at the area where ese lives and golfs
[09:21] {Threei}  you'll be stunned
[09:22] {davd} i was at bear mtn this past weekend.  for a county fair.
[09:22] {Les} where are you ese? - let Google maps be my guide...
[09:24] {ese} in Victoria
[09:25] {ese} British Columbia, Canada
[09:25] {Les} where are you playing golf?
[09:26] {ese} there and at a club called Cordova Bay.......close to vads place
[09:28] {Les} can't find yours, but heck how many golf clubs does Victoria need?
[09:29] {dino} 14 at one time
[09:29] {Les} Upland, Mt Douglas, Royal Oak, Olympic view...
[09:29] {Les} Now wonder Victoria is so dang expensive...
[09:29] {ese} Royal Victoria.......played by Ben Hogan
[09:32] {Threei}  RIMM
[09:32] {Threei}  sharp drop, watching for bounce
[09:33] {Threei} Long Setup:  RIMM  .30 break half lot
[09:33] {Threei}  invalidated
[09:33] {Threei}  lol, never mind
[09:33] {Threei}  gotta let morning vilatility to work itself out
[09:33] {jfjf64} wow
[09:34] {magoo} ACN up pretty good
[09:35] {Threei}  ACN
[09:35] {Threei}  0.002 per share
[09:35] {Threei}  oops
[09:35] {Threei}  Accenture Ltd Reaches New Agreement with U.K. Government
[09:35] {Threei}  - Has reached agreement on a Memorandum of Understanding (MOU) with Her Majestys Government (HMG) on existing work across the government and has put forward proposals on how efficiencies could be achieved in any future work.
[09:35] {Threei}  - Under the agreement, all current contracts have been retained and will be delivered according to plan. Accenture continues to build on its past performance of strong work, and the MOU marks a new phase in the successful relationship with HMG.
[09:36] {Threei}  (US) Preview: Sept Final University of Michigan Confidence Index due out at 09:55ET
[09:36] {Les} ACN looks like coming down
[09:37] {Les} oops
[09:37] {magoo} hit .25 5 times..up
[09:38] {Threei} Short Setup: FCX  .65 half lot
[09:38] {ese} i'm agreeing with dino
[09:38] {Threei}  .80 stop
[09:38] {ese} i hate these big up days to start
[09:39] {dino} :)
[09:40] {Threei}  1:1
[09:41] {gregns} .
[09:42] {Threei} Short Setup: GS  145 break
[09:42] {Threei}  smaller shares
[09:42] {Threei}  if stays under .20
[09:42] {gregns} #qwert
[09:43] {Les} wow RIMM
[09:43] {Threei}  (US) Preview: August Construction Spending due out at 10:00ET
[09:43] {Threei}  (US) Preview: Sept ISM Manufacturing Index due at 10:00 ET
[09:44] {Les} aapl selloff
[09:46] {ese} L xlnx
[09:46] {ese} .40
[09:47] {dino} downgrade to sell gs xlnx fwiw
[09:48] {ese} out xlnx .53
[09:48] {ese} +.15
[09:48] {dino} nice
[09:48] {ese} tks
[09:49] {jfjf64} rimm
[09:50] {jfjf64} shrug  100x
[09:50] {magoo} should be a ashort rimm
[09:50] {dino} mon l .99
[09:52] {jfjf64} gs
[09:53] {davd} in mon .9
[09:54] {magoo} sheesh ACN
[09:54] {jfjf64} x bounce
[09:54] {RonS} rvbd
[09:55] {Threei}  5 min till numbers
[09:56] {Threei}  *(US) SEPT FINAL UNIVERSITY OF MICHIGAN CONFIDENCE: 68.2 V 67.0E
[09:58] {jfjf64} lvs  3i
[09:58] {jfjf64} bounce
[09:59] {Threei}  don't wanrt to open position having numbers coming
[09:59] {jfjf64} k
[09:59] {jfjf64} wanted  nother leg  dn
[09:59] {jfjf64} .85
[09:59] {jfjf64} not exact  science
[10:00] {Les} watching hpq return to 41 or rollover and death .80
[10:01] {Threei}  *(US) AUG CONSTRUCTION SPENDING M/M: 0.4% V -0.4%E
[10:01] {Threei}  *(US) SEPT ISM MANUFACTURING: 54.4 V 54.5E; PRICES PAID: 70.5 V 59.0E
[10:02] {Les} that isn't inflation is it?
[10:03] {Les} hpq .80 b/d?
[10:03] {dino} out mon b/e
[10:03] {RonS} last mo revised down?
[10:03] {Threei}  construction yes
[10:04] {Threei}  Prior revised lower from -1.0% to -1.4%
[10:05] {RonS} imax
[10:05] {dino} pru sm l .60
[10:07] {Threei} Short Setup: LVS  .90 break
[10:07] {Threei}  if stays under 35
[10:07] {Threei}  invalidated for now
[10:09] {Threei} Short Setup: FCX  .40 break half lot
[10:09] {Threei}  wow
[10:09] {Threei}  that was waaay too fast
[10:10] {dino} mon sm l .99
[10:10] {Les} lvs again
[10:10] {Threei}  stop above .50
[10:11] {Threei}  LVS short is valid again
[10:12] {Threei}  no go FCX
[10:13] {magoo} how about GS short?
[10:13] {Les} GDX 57 GLD 129
[10:13] {Threei}  .40 break GS
[10:14] {dino} aaww gap fill
[10:14] {magoo} unless mkt rip
[10:14] {Threei}  .60 invalidates it
[10:14] {dino} sm l .99
[10:14] {RonS} euro hod, coal strong
[10:14] {Threei}  messy market
[10:15] {magoo} bidu could bounce vads
[10:16] {Threei}  don't like it at all
[10:16] {magoo} news on it?
[10:16] {Threei}  no
[10:16] {RonS} nflx off $20 in 2 days
[10:17] {Les} GLD 129 break?
[10:18] {Threei}  pullback to .70, I'd be interested
[10:18] {Threei}  break on GLD rarely works
[10:20] {Threei} Short Setup: RIMM  .490 break
[10:20] {Threei}  .40
[10:20] {Threei}  not a scalp, should be capable of more
[10:21] {Threei}  1:1
[10:21] {Threei}  half out
[10:22] {Threei}  stop to above b/e
[10:23] {Threei}  balance stopped
[10:24] {davd} in gs .4
[10:26] {magoo} careful, futes falling
[10:27] {magoo} aapl trashed
[10:27] {Les} now RIMM will drop
[10:28] {magoo} yea
[10:29] {Les} spank that playbook
[10:29] {Threei}  whole market feels like unraveling today
[10:30] {Threei} Short Setup: GLD  .90 break
[10:31] {Threei}  stop for scalpers above 129, for day traders day high
[10:32] {davd} in GLD short .9
[10:32] {Threei}  scalpers 1:1
[10:32] {magoo} FCX wrecked
[10:33] {Threei}  day traders 1:1
[10:36] {Threei} Long Setup:  X  .50 break half lot
[10:37] {Threei}  invalidated
[10:40] {davd} out gld partial .7 +.2
[10:41] {Threei}  stop for the balance to above b/e, davd
[10:42] {davd} roger that
[10:42] {magoo} mkts near red
[10:44] {ese} near red..........man it's communism here
[10:44] {davd} vad, is it near communism?
[10:45] {Threei}  marcging in that direction
[10:45] {Threei}  matching
[10:45] {Threei}  marching
[10:45] {Threei}  there... and you thought I couldn't type
[10:46] {ese} lol
[10:46] {magoo} have a drink vad:)
[10:49] {magoo} ok, enough vad, put bottle down and rejoiin conv
[10:50] {Threei}  sigh
[10:50] {dino} xrtx l .25 stop .11
[10:50] {Threei}  these conflicting messages... gulp
[10:52] {davd} in xtrx .21
[10:57] {Les} watching ACN for lower high here. 100 MA support .35
[10:59] {dino} xrtx stopped
[11:00] {davd} xrtx stopped
[11:00] {Les} HPQ dino. u like?
[11:01] {dino} y
[11:01] {Les} not tempted yet. but as it gets up to 41...
[11:01] {davd} out gs .6 +.2
[11:02] {dino} gj
[11:02] {dino} crr drop
[11:02] {Threei} Long Setup:  FCX  87 break
[11:02] {Threei}  half lot
[11:02] {davd} out last partial break even
[11:02] {davd} gld
[11:04] {davd} in fcx .93 small
[11:06] {davd} panic is a userid?
[11:06] {_panc} panc not panic
[11:07] {davd} sorry ;)
[11:07] {_panc} :-)
[11:07] {davd} stop on fcx threei?
[11:08] {Threei}  ?
[11:08] {Threei}  ot never triggered
[11:08] {Threei}  it
[11:08] {Threei}  and got invalidated
[11:10] {davd} yea, thought it might, i misread 87, my fault, i'm in small
[11:12] {kowboy} gmcr nice solume
[11:12] {kowboy} volume
[11:18] {davd} bama on - was wondering when he would speak today?
[11:19] {dino} syna sm l .00
[11:19] {magoo} LVS near low cvad
[11:19] {Threei}  no clean setup
[11:20] {Threei}  davd, today he is in his own backyard though
[11:20] {Threei}  instead of invading someone's
[11:21] {Les} what, helping that loud mouth chief of staff of his to get a cushy job in Detroit?
[11:21] {davd} in syna .00 small
[11:23] {Threei}  not sure how mayor of Chicago is a cushy job in Detroit
[11:24] {Threei}  but whatever :)
[11:24] {RonS} same thing to an auzzie is switzerland...:D
[11:24] {RonS} in
[11:24] {Threei} Long Setup:  AMZN  153 break smaller shares
[11:25] {Threei}  if stays above .80 - .85
[11:25] {Threei}  (US) Connecticut AG Blumenthal calls for a freeze in foreclosures following recent information regarding faulty procedures (related BAC JPM GM XHB XLF )
[11:26] {Threei}  (US) President Obama formally announces Rahm Emmanuel's departure
[11:26] {Threei}  depart already
[11:26] {RonS} ...isn't he running for Senate?...election ploy
[11:27] {Threei}  invalidated
[11:28] {Les} detroit, chicago... whatever
[11:29] {RonS} ...did you see the O boast to U of Wis studenmts that he has accomplished 70% of what he wanted?  I guess he only has 30% of the rest of the country to ruin...
[11:29] {Les} hehehe
[11:30] {dino} lol
[11:32] {Threei} Short Setup: AMAZN  .70 break
[11:32] {Threei}  same thing - smallish shares, stop above 153
[11:33] {Threei}  not a scalp to me
[11:34] {Threei}  (US) Fed's Evans: Unconvential tools are the best option; concerned could be in a liquidity trap; US companies have a cautious outlook
[11:34] {Threei}  - Risk aversion could stifle a meaningful recovery, it is currently desirable to ease monetary policy further which could increase aggregate demand
[11:34] {Threei}  unconvential tools eh
[11:34] {Threei}  sigh
[11:36] {Threei}  no worky
[11:36] {magoo} mkt reversed
[11:36] {Threei}  or just bounced a bit
[11:36] {Threei}  hard to tell today
[11:37] {Threei}  US) EPA to propose raising fuel economy to 47-62 mpg by 2025
[11:37] {Threei}  ***Reminder: On 09/15 the DoT and EPA jointly proposed higher fuel economy in 2012-16, raising bar to 35.5 mpg overall.
[11:37] {Threei}  imbeciles
[11:38] {RonS} how is an electric rated?
[11:39] {Threei}  F.IT Chrysler reports US vehicle sales +61% y/y; to 100K units
[11:39] {Les} are they joking? We have 60MPG already
[11:39] {RonS} 1 pound of coal per mile?...
[11:39] {Les} diesel baby...
[11:40] {RonS} rudolph
[11:40] {Threei}  lol
[11:41] {Les} well yeh, if it's GM planning for that sort of mileage
[11:41] {davd} moving mon stop to .88 dino.
[11:41] {Les} they'll need father christmas
[11:41] {dino} ok
[11:42] {RonS} rudolph diesel Les...come'on...;)
[11:42] {Les} well there you go. learn something new every day
[11:42] {Threei}  hey, try to shoot some turpentine up its butt and see what happens
[11:43] {Les} I still think EPA will need father christmas
[11:43] {magoo} lvs had nice rip after i mentioned
[11:44] {Threei}  RIMM stranegly stalled
[11:45] {Threei}  ,RIMM} who, me?
[11:49] {davd} moved mon stop to .09
[11:54] {davd} moved mon stop to .14
[11:54] {RonS} pretty funny...they gave Rahm a dead fish wrapped in Chi newspaper as a going away present...
[11:55] {Threei}  nice humor
[11:55] {dino}  at .19
[11:55] {Threei}  Don Corleone would be proud of them
[11:56] {RonS} ...seems to work here...slap!...
[11:59] {davd} out .21
[11:59] {davd} out mon .21
[12:00] {Threei}  questinable day so far
[12:00] {dino} out mon +.20
[12:00] {Threei}  can't find too many reliable plays
[12:00] {magoo} second day in row open gap was sold off, ie failed
[12:01] {Threei}  yes... but yesterday was easier
[12:01] {Threei}  today is disjointed
[12:01] {davd} gj +.31
[12:01] {Threei}  dino and davd make money though... irritating...
[12:01] {Threei}  {G}
[12:01] {magoo} especially davd he he
[12:02] {Threei}  hey, when it comes to irritation I do not discriminate {G}
[12:06] {Threei}  F Reports Sept US sales 46% to 160.8K units
[12:09] {dino} magoo you up?
[12:11] {davd} moving syna stop to .94 dino?
[12:11] {kowboy} Vad a minus or plus 46%
[12:13] {kowboy} sorry i understand
[12:13] {dino} y
[12:14] {Threei}  + :)
[12:14] {Threei}  that's how line went, I had to look into breakdown to figure it out
[12:14] {Threei}  (US) SEC releases official report on May 6th "flash crash"
[12:14] {Threei}  - The broad-based increase in risk on May 6 was evidenced by a number of indicators. Premiums on credit default swaps increased for a number of European sovereign debt securities, including debt from Greece, Portugal, Spain, Italy, and Ireland. In addition, the Euro experienced downward pressure in global currency markets.
[12:14] {Threei}  - In the course of the day, the S&P 500 volatility index (VIX), a measure of the expected volatility of the S&P 500 Index, increased by 31.7 percent, which was the fourth largest single-day increase in VIX. Prices on gold futures rose 2.5%, while yields of ten-year Treasuries fell nearly 5% as investors engaged in a flight to quality.
[12:17] {dino} we paid how many millions for that? it's a history report, sheesh...
[12:18] {Threei}  For full report, please see http://www.sec.gov/news/studies/2010/marketevents-report.pdf
[12:28] {dino} gmcr gap fill july
[12:32] {dino} meli retest yesterdays fast fall
[12:44] {dino} vlccf l .63
[12:51] {ese} . nah i'm here but i gotta go....have a great weekend
[12:52] {Threei}  take care ese
[12:52] {Threei}  great wetaher, I guess golf is in order gor him
[12:52] {davd} in vlccf .65
[12:53] {dino}  cya
[12:55] {davd} stop vlccf .5?
[12:57] {dino} .49
[12:58] {davd} gracias
[12:59] {kowboy} gmcr
[13:03] {dino} pru slow climb
[13:06] {magoo} jpm
[13:07] {Threei} Long Setup:  RIG  .25
[13:07] {Threei}  if stays above .15
[13:17] {magoo} news jpm??
[13:17] {Threei}  11:23:56
[13:17] {Threei}  (US) Connecticut AG Blumenthal calls for a freeze in foreclosures following recent information regarding faulty procedures
[13:17] {Threei}  - Reminder: Ally Bank and JP Morgan have both disclosed that some employees signed foreclosure affidavits without reading them, and Ally Bank acknowledged that some employees were submitting affidavits in foreclosure proceedings without personally verifying the documents' contents.
[13:17] {Threei}  that's all
[13:17] {Threei}  nothing fresh
[13:18] {magoo} i like amzn long, and u?
[13:19] {Threei}  153 break... could be
[13:20] {davd} in RIG .22
[13:21] {Threei}  stopped
[13:23] {davd} stopped rig
[13:27] {dino} cgnx
[13:29] {dino} bid seller at .00
[13:30] {dino} out pru +.29
[13:34] {Threei}  For Second Straight Month, Number of Democrats in U.S. Falls to Record Low
[13:36] {magoo} i know for factr dino just left dem party
[13:37] {Threei}  lol
[13:37] {dino} never was a dem
[13:41] {magoo} vad, was there news AMZN?
[13:41] {dino} syna stopped-.04
[13:41] {magoo} death
[13:45] {magoo} wow vads really looking for news
[13:46] {Threei}  lol
[13:46] {Threei}  there was not
[13:47] {Threei}  unless you consider downgrade by no name firm
[13:47] {davd} out syna stopped .94
[13:47] {Threei}  a news
[13:47] {magoo} which stock? lol
06[13:48] * Threei slaps magoo around a bit with a large bottle of memory pills
[13:52] {Threei}  something is so off about today, can't quite put my finger on it but it's in the air
[13:54] {dino} feels like summer friday
[13:54] {Threei}  something else..
[13:55] {Threei}  in the summer it's just complacency
[13:55] {Threei}  today, there is a distinctive smell of fear in the air
[13:55] {dino} cml
[13:57] {patience} bought HGD today (gold bear etf).  I'm a strong gold bull but taking a shot at next few weeks being down weeks.   very unscientific   :)  
[13:58] {dino} gut i call it
[13:59] {davd} check to see if hgd actually works, i.e. chart it vs, gld over 3 months and see that it does move inverse.
[13:59] {patience} yup
[14:00] {patience} up until recently i have been swing trading, but have found i'm switching back to scalping
[14:00] {patience} refreshing my techniques for scalping options
[14:00] {patience} it's been awhile
[14:00] {dino} you'll do fine
[14:00] {dino} fwiw i'm in scalp mode too
[14:01] {patience} feel like Rocky, training for the big fight    :)
[14:04] {dino} as long as you don't look like him
[14:04] {dino} :)
[14:07] {dino} hpq hl l .50
[14:07] {dino} stop lod
[14:21] {dino}  sm l cgnx .99
[14:24] {davd} in cgnx .99
[14:26] {dino} stop lod
[14:26] {Threei} Long Setup:  RIMM  .75 break
[14:26] {Threei}  if stays above .65
[14:29] {magoo} question is do mkts sell off into bell?
[14:29] {Threei}  that's THE question
[14:29] {Threei}  and my gut says, no
[14:29] {Threei}  up we go, says gut
[14:29] {magoo} part 2: and if so is vad smart enough to recognize and profit from it
[14:30] {RonS} rimm break of 50.00 ought to trigger some short covering...
[14:30] {magoo} part 3: is magoo smart enough to listen to man he pays for advice?
[14:31] {davd} in rimm .72
[14:32] {magoo} ive found it doesnt usually pay to jump vads triggers davd
[14:33] {RonS} ...but he did not jump, it did trigger earlier mags...
[14:34] {magoo} ah, sorry
[14:34] {Threei}  but mags was too busy thinking aof another sniping remark to notice that {G}
[14:34] {magoo} u got that correct:)
[14:34] {davd} thanks - i kept quiet because i didn't know.  i waited for it to go below .75 and watched that it held above .65 and then bought when i thought
[14:35] {magoo} that would be best left unsaid davd HE HE
[14:37] {Threei}  1:1
[14:37] {Threei}  half out or scalp
[14:37] {Threei}  your choice
[14:39] {Threei}  if partialling, stop for the balance to under b/e
[14:39] {Threei}  and offer 1/4 more around .93 - .95
[14:39] {davd} out rim 1/2 lot .84
[14:40] {davd} dino cgnx up on hi volume
[14:41] {dino} see it
[14:44] {Threei}  formally you can trail RIMM stop to .78 now... although I am not sure it's worth it
[14:45] {Threei}  just if doing thingss by the book, that's how you'd do it
[14:45] {dino} who's book
[14:46] {Threei}  just book
[14:46] {Threei}  generic
[14:46] {dino} :D
[14:46] {Threei}  you know... as in conversation of two gals discussing what to buy as a present for a boyfriend
[14:46] {Threei}  "buy him a book?"
[14:46] {Threei}  "no, he already has a book"
[14:47] {dino} whats the soup jour? i don't know but they have it everyday
[14:47] {davd} cgnx stop to .98
[14:47] {Threei}  second target hit
[14:47] {dino} y to b/e
[14:47] {RonS} out rimm .92  +.15
[14:48] {RonS} ty 3i...
[14:48] {Threei}  sure thing
[14:48] {davd} out rimm .90 second half
[14:49] {Threei}  now, last part:
[14:49] {Threei}  stop to under .80
[14:49] {Threei}  and try for above 50
[14:49] {Threei}  if breaks .95 from here, stop trailed to .85
[14:54] {davd} cgnx stop to .16
[14:56] {davd} cgnx stopped .16
[14:56] {Threei}  .95 broken, .85 held
[14:56] {Threei}  stpp trailed to .84
06[14:58] * Threei slaps magoo around a bit with a large banner asking "HAVE YOU FOLLOWED THE WINNING TRADE CALLED FOR YA??"
[14:58] {dino} jumpy cgnx
[14:58] {magoo} u gonna be upset
[14:58] {Threei}  lord, how I missed slapping magoo with variety of subjects of various size and weight
[14:59] {RonS} wow big 50 offers rimm
[14:59] {Threei}  look at daily
[14:59] {Threei}  huge resistance here
[14:59] {Threei}  now you have a choice:
[14:59] {Threei}  take 1:3 if it breaks, or just trail
[14:59] {Threei}  and try to maximize it
[15:00] {RonS} yep, that's why i thought a break would be meaningful...
[15:00] {dino} hpq to .54
[15:01] {Threei}  take down that wall RIMM
[15:03] {Threei}  RIMM: what wall?
[15:04] {Threei}  look at the volume spike produced by digesting those offers
[15:04] {Threei}  1:3
[15:04] {Threei}  1:4
[15:05] {jfjf64} ty  ty
[15:05] {Threei}  yw yw
[15:05] {RonS} her comes the shorts...
[15:05] {jfjf64} yes
[15:07] {Threei}  1:5
[15:07] {Threei}  I am out
[15:07] {RonS} classic vad
[15:07] {dino} wtfg
[15:07] {jfjf64} yes
[15:08] {jfjf64} wtfg
[15:08] {jfjf64} lk that
[15:08] {Threei}  lol
[15:08] {jfjf64} keep  ya  round  3i
[15:08] {jfjf64} lol
[15:09] {jfjf64} maybe  one  day  i  cd  be  lk ya
[15:09] {jfjf64} time  4  scotch
[15:10] {Threei}  1:7
[15:10] {Threei}  not in of course... jjust being pedantic
[15:11] {jfjf64} let ne  get  my dictinary  out
[15:11] {jfjf64} got  me
[15:11] {RonS} ...don't confuse Les...:D
[15:12] {dino} out vlccf .74, +.11
[15:12] {magoo} magoo loking thru PICtgionary
[15:12] {Threei}  this single trade turned lukewarm day into very decent one
[15:13] {jfjf64} my  week
[15:13] {jfjf64} lol
[15:14] {Threei}  (US) Reminder: Dallas Fed President Fisher to speak at 15:15ET
[15:18] {davd} out vlccf .73
[15:18] {dino} this administration thinks they are rock stars or something, always on tv
[15:19] {RonS} ...trying to be Big Brother, failing at it...
[15:20] {dino} they should just get out of the way and shut up
[15:21] {RonS} ...even John Stewart is skerewing them...made a joke last night that O and bill Ayres were shredding the Constitution
[15:21] {dino} finally a liberal sees the light
[15:22] {RonS} ...but will the koolaid drinkers...
[15:22] {Threei}  so, a question:
[15:22] {Threei}  let's be happy with this 50 cents RIMM win and go home a profitable and happy,
[15:22] {Threei}  or let's try and push for one more, risking to give some back?
[15:23] {magoo} pushhhhhhhhh
[15:23] {jfjf64} latter here
[15:23] {Threei}  wow... breathe mags, brreathe
[15:23] {magoo} will u hold my hand.?
[15:23] {Threei}  this blue shade in face can't be healthy
[15:24] {Threei}  OK, let's do half lots, OK?
[15:24] {RonS} i'll drink to that
[15:24] {jfjf64} salute
[15:24] {Threei}  don't want to give back too much in Fri closing volaitlity and possibkle whipsaw
[15:24] {Threei} Long Setup:  TZA  .45
[15:24] {Threei}  break
[15:25] {Threei}  stop under .35
[15:25] {Les} 50 cents on RIMM? cool...
[15:26] {Les} 50 break?
[15:26] {Threei}  no
[15:26] {Threei}  49.75
[15:26] {Threei}  with exit at 50.25
[15:26] {Les} I see it
[15:27] {davd} long TZA .43
[15:27] {Threei}  not too shabby for 10 cents risk
[15:27] {dino} ugh vlccf
[15:27] {Les} laserdave keeping me out of the action aaaaawwwwwwww man
[15:27] {davd} yea - just saw!  it happens
[15:28] {davd} at least not a rinse
[15:28] {dino} y
[15:28] {Threei}  move your butt TZA
[15:29] {Threei}  while we are young
[15:29] {Threei}  well... maybe too late for me
[15:29] {davd} isnt shorting un-american?
[15:29] {Threei}  it is... but I am not american
[15:29] {dino} no
[15:29] {Threei}  1:1
[15:30] {jfjf64} ty
[15:30] {jfjf64} ty
[15:30] {magoo} nive cad
[15:30] {RonS} depends on if you are a midget...ok...bad joke...
[15:30] {Threei}  yw yw
[15:30] {Threei}  mank you thagoo
[15:31] {Les} nice call on market turn there. very precise
[15:31] {Threei}  that's my middle name
[15:31] {Threei}  you should see me dividing a bottle of vodka by three glasses
[15:32] {Threei}  precision thy name o vodka handler
[15:32] {Les} what was the tell? db TZA?
[15:32] {nemo} shot glasses for you friends and a mug for you
[15:32] {magoo} in vodka 1/3 :)
[15:32] {Threei}  rofl
[15:32] {Threei}  two tells Les
[15:33] {Threei}  one is general feeling that market prepared surprise drop
[15:33] {Threei}  another is familar reversal setup that you can see if zoom in on TAZ 1 min chart
[15:34] {Threei}  descending channel for a while, then a few bars touch flat horisontal bottom,
[15:34] {Threei}  not making new lows anymore,
[15:34] {Threei}  then upper envelope gets broken
[15:34] {Threei}  classic bounce formation
[15:34] {dino} hpq to .60
[15:35] {davd} gutsy playing hpq today dino :O
[15:35] {dino} not really, mkt defined it
[15:36] {dino} they are all coin tosses davd, just find an edge
[15:36] {RonS} ...blaming the flash crash on a trade from Waddle & Reed...lol
[15:37] {Threei}  shrug
[15:37] {dino} shrek
[15:37] {Threei}  so, let me share anotgher secret with you
[15:37] {Threei}  how to divide the bottle by three glasses
[15:38] {Threei}  classic russian vodka bottle contains .5 litre,
[15:38] {Threei}  if you turn it uopside down, it pours out in portions with GLUG sound
[15:38] {Threei}  bottle contains 21 glugs,... pour 6 glugs in each glass
[15:38] {Threei}  7
[15:38] {dino} lol
[15:39] {Threei}  you'll have to find out for .75 litres bottle by way of experiemnt
[15:39] {RonS} ...but Les can't count that high...:D
[15:39] {jfjf64} ya  scaring me    im really readin  and  shakin  head    hmm
[15:39] {Threei}  well... there is just so much I can teach :)
[15:39] {dino} smci spike
[15:39] {magoo} [15:36] {&Threei}  bottle contains 21 glugs,... pour 6 glugs in each glass
[15:39] {magoo} truly amazing
[15:39] {Les} that's pretty pathetic Ron
[15:39] {dino} too fast
[15:39] {jfjf64} my teacher  is  a drunk
[15:40] {RonS} smci reverse flash crash...
[15:40] {jfjf64} lol
[15:40] {Les} You'll have to do better than that if you want to replace Nemo
[15:40] {Threei}  well mags... there are three kinds of people... first kind can count and second can't
[15:40] {RonS} ...no kidding Les...am not really trying to...
[15:40] {Les} I have the .75 but there ain't no way I'd be pouring that much Vodka....
[15:40] {dino} out hpq .67, +.17
[15:41] {RonS} gj dino, that lkind of stock is really thick...
[15:41] {dino} thx
[15:43] {dino} pru lod
[15:45] {RonS} cme response to flash report:
[15:45] {RonS}  The report references a series of bona fide hedging transactions, totaling 75,000 contracts, entered into by an institutional asset manager to hedge a portion of the risk in its $75 billion investment portfolio in response to global economic events and the fundamentally deteriorating market conditions that day.  The 75,000 contracts represented 1.3% of the t
[15:45] {RonS} of the total E-Mini volume of 5.7 million contracts on May 6 and less than 9% of the volume during the time period in which the orders were executed.  The prevailing market sentiment was evident well
[15:46] {RonS} ...in other words they are calling bullshit...
[15:46] {Threei}  so their point is, SEC is wrong?
[15:46] {davd} tza to .70
[15:46] {Threei}  yup
[15:46] {Threei}  thought so
[15:48] {jfjf64} lvs  short  here
[15:48] {jfjf64} .14
[15:48] {jfjf64} ?
[15:49] {Threei}  looks like
[15:49] {Threei}  just keep your eyes on watch
[15:49] {jfjf64} hold .20
[15:49] {jfjf64} tight
[15:50] {jfjf64} needs to  go  this  min
[15:53] {dino} aveo
[15:53] {RonS} done here...thanks all and good weekend to you.  ;)
[15:53] {dino} cya
[15:53] {jfjf64} print it
[15:54] {Threei}  take care Ron, have a good one
[15:55] {dino} ioc
[15:56] {davd} out tza .7
[15:57] {jfjf64} good  weekend  all
[15:57] {jfjf64} ty 3i
[15:57] {Threei}  thank you all
[15:57] {Threei}  good way to finish the week
[15:57] {Threei}  have a great weekend
[15:57] {Threei}  see you all on Monday
[15:58] {jfjf64} wil ya be posting chart on  blog
[15:58] {dino} out cgnx .17, +.18
[15:59] {magoo} nivce come back vad
[16:01] {Threei}  yes jf
[16:01] {dino} all day out aaww +.12
[16:03] {Les} ciao bon weekend all
[16:04] {dino} thx all