Carbon copy of the last week so far - slow, boring but profitable.
Session Time: Mon May 16 00:00:00 2011
[08:50] {Threei} (GR) Greece has agreed to take stronger approach to spending and raising revenue, adopts 'more realistic' goals for economy - financial press citing EU and IMF executives
[08:50] {Threei} - Agrees to additional spending cuts and clearer revenue targets; talks are not yet over with more information on asset sales and fiscal plans still needed
[08:50] {Threei} - EU and IMF inspectors still see gaps in Greek plans and still need answers from Greece on fiscal plan, sell-offs to conclude visit
[08:51] {Threei} additional spending cuts? they have riots on the streets as it is
[09:17] {Threei} (EU) Germany Fin Min Schaeble: The IMF will be able to handle the ongoing euro zone crisis; EU is on track to approving aid for Portugal
[09:17] {nemo} I feel better already
[09:17] {davd} ah another sex scandal
[09:17] {Threei} don't because:
[09:17] {Threei} (EU) Netherlands Fin Min de Jager: Greece is not on the right track; Greece requires additional austerity before more money can be givenNeeds to hear further measures Greece intends to incorporate
[09:17] {Threei} - Portugal must work out its economic reforms
[09:18] {dino} gm all
[09:18] {Threei} dino :)
[09:18] {Threei} davd, you mean EU and Portugal? {G}
[09:21] {davd} imf head and hotel maid
[09:21] {Threei} I know :)
[09:21] {larisa} gm :)
[09:21] {Threei} larisa :)
[09:21] {Threei} but EU and Portugal fall under definition too... just as EU and all others
[09:23] {davd} yes portugal is raping eu :P
[09:24] {davd} or a wood allen would say, greece is trying to do to germany what imf tried to do to the maid
[09:25] {Threei} (GR) Belgium' Fin Min Reynders: Greece will have to make another step in program; hopeful for a deal on a Portugal program today, and can assist Greece without moving it towards default
[09:25] {Threei} (GR) EU Commission: 50% haircut on Greek debt would still not bring debt to GDP ratio below 100%
[09:26] {dino} lol davd
[09:29] {Threei} don't be surprized but... looking at SLW short,
[09:29] {Threei} .65 break
[09:29] {Threei} need spread to tighten
[09:30] {Threei} Short Setup: SLW .65 break if stays under .75
[09:31] {Threei} invalidated
[09:32] {jfjf64} mornin
[09:32] {Threei} Short Setup: SLW .70 break
[09:32] {Threei} jf :)
[09:32] {Threei} if stays under .80
[09:33] {Threei} invalidated
[09:33] {nemo} I took it long .81
[09:33] {Threei} yup
[09:33] {nemo} half out .06
[09:33] {gregns} gj nemo
[09:34] {nemo} stop .94
[09:34] {Threei} (US) Treasury Sec Geithner reiterates that debt limit needs to be raised by August 2- notes will access two federal retirement funds as part of special measures to deal with reaching debt ceiling
[09:34] {Threei} - Treasury affirms debt ceiling will be reached today, as expected (special measures expected to extend Treasury's abilities through to August 2)
[09:34] {nemo} ltna .31
[09:34] {nemo} half out .41
[09:35] {nemo} 1/4 more slw .20
[09:35] {Threei} Short Setup: RIMM .90 break
[09:35] {nemo} 1/4 more tna .91
[09:36] {nemo} stop tna .79
[09:37] {Threei} RIMM correction, .15 break
[09:37] {Threei} if stays under .25
[09:37] {Threei} 1:1
[09:38] {nemo} out slw .28
[09:38] {nemo} dummy
[09:38] {nemo} still in tna
[09:39] {nemo} out if she drops .90
[09:39] {Threei} Short Setup: SLW .30 break
[09:39] {Threei} if stays under .40
[09:40] {nemo} out tna .89
[09:40] {Threei} .40 new trigger
[09:40] {Threei} 10 cents ranges from here
[09:41] {nemo} frig, shaken out of tna ,should have stuck with .79 as stop
[09:41] {Threei} 1:1
[09:42] {Threei} same setup again
[09:42] {Threei} .60 break
[09:42] {Threei} not a scalp
[09:43] {Threei} target .25 at least
[09:43] {Threei} 1:1
[09:43] {Threei} stop .66
[09:46] {Threei} Long Setup: X .20 break
[09:46] {Threei} half lot
[09:46] {Threei} stop under .10
[09:46] {Threei} 1:2 target, two partials
[09:48] {Threei} no go X
[09:49] {dino} vit sm l .00
[09:52] {Threei} Long Setup: FCX .90 break
[09:53] {Threei} stop under .80
[09:53] {Threei} 1:1
[09:55] {Threei} Long Setup: RIMM 43 break
[09:55] {Threei} stop under .90
[09:57] {jfjf64} what ya tk ya viatimins today
[09:57] {Threei} held by fingertips
[09:58] {nemo} numbers in 2 minutes
[09:58] {jfjf64} gold stocks look ready for explosion
[09:59] {dino} vit stop -.21
[10:00] {Threei} out RIMM
[10:00] {Threei} flat
[10:00] {Threei} *(US)MAY NAHB HOUSING MARKET INDEX: 16 V 17E
[10:01] {Threei} great, now it goes
[10:03] {Threei} X was a rinse
[10:04] {RonS} dollar driven 3i...
[10:04] {Threei} (GR) ECB's Bini Smaghi: Greece debt restructuring would create contagion in the euro zone and would not solve the sustainability issue
[10:04] {Threei} - An extension of Greek debt maturities could trigger a credit event.
[10:04] {Threei} - Greece needs more long-term financial aid.
[10:04] {Threei} - Debt restructuring would not be a positive for Europe.
[10:04] {Threei} yeah
[10:07] {ese} morning,,,,,,,,, slept n
[10:07] {Threei} ese :)
[10:09] {dino} vit rinsed
[10:10] {Threei} 9% Rate Economy Good or Excellent, 54% Say Poor
[10:12] {Threei} Short Setup: X .50 break
[10:14] {Threei} dollar is trying to green a bit
[10:15] {Threei} invalidated
[10:22] {Threei} watch NVDA for long entry if pulls back to .80
[10:30] {dino} wlk sm l .73, stop lod
[10:30] {jfjf64} syk
[10:34] {Threei} Short Setup: SLW .80 break
[10:35] {Threei} invalidated
[10:38] {Threei} Short Setup: SLW .90 break
[10:38] {Threei} stop is obvious
[10:39] {Threei} target 1:3
[10:39] {Threei} 1:1
[10:39] {ese} L DAR .74
[10:40] {ese} stop .64
[10:41] {nemo} SLW has vwap support at .65
[10:42] {ese} nemo....do use intelliscan to get that vwap scan?
[10:42] {Threei} scalpers win
[10:42] {nemo} no, it's built in to Freestockcharts.com
[10:43] {ese} ahhhhhh......
[10:43] {ese} out 1/2 dar }87
[10:44] {ese} balance to break even .75
[10:44] {Threei} there are a few alerts with it in Iscan, ese
[10:44] {ese} break even is .74 but for the commish
[10:44] {Threei} crossed above or below VWAP
[10:44] {Threei} positive ir negative divergence
[10:45] {ese} ya ....have seen it ....just wonder how effective nemo has found it....vwap trigger
[10:45] {nemo} here ese: http://www.freestockcharts.com?emailChartID=c9a3a87a-b150-49d5-9bf2-12a6a0d10550
[10:45] {nemo} it just gives you additional geography
[10:46] {Threei} as if we weren't confused enough with what we have
[10:46] {ese} ya for sure
[10:47] {dino} indeed
[10:47] {nemo} I find iwm and spy often obey around the vwap
[10:47] {ese} tks
[10:48] {nemo} as a matter of fact, look at iwm and spy this morning with the vwap
[10:48] {ese} thats cool nemo......runs it as a moving average....i didn't know that it was there
[10:49] {nemo} yeah, I watch the reaction of the stocks at the levels,
[10:51] {ese} have you ever thought about subscribing to free stock charts
[10:51] {nemo} not really, don't seem to need any of the other functions
[10:52] {RonS} and have the name change to "notsofree"?
[10:52] {ese} lol
[10:52] {nemo} it's a stepping stone to get you to Telecharts
[11:00] {ese} what time frame do you use the vwap 1min, 5min?
[11:01] {nemo} all of them, it calculates vwap for that day
[11:01] {nemo} it's consistent across time frames
[11:01] {ese} out
[11:02] {ese} dar stop to .85
[11:02] {ese} am not out...miss print
[11:03] {RonS} better than missed(ed) out
[11:03] {ese} out now DAR .00 +.26 on blance
[11:03] {RonS} gj ese...greater fool theory, eh?
[11:04] {ese} tks
[11:04] {ese} ahhhhhh...it's a new word..."blance"
[11:04] {ese} shortens up balance nicely........vad would be proud
[11:04] {Threei} I am
[11:05] {ese} lol
[11:07] {Threei} USD is on a smooth slide today, and SPY is on just as smooth rise
[11:08] {Threei} amazing how market became a currency trade
[11:11] {Threei} Short Setup: RIMM .20 break
[11:11] {Threei} if stays under .30
[11:21] {RonS} where's jf w/ the war cry...
[11:21] {Threei} lol
[11:21] {RonS} dieeeee.....
[11:22] {jfjf64} jf quiet
[11:22] {jfjf64} today
[11:22] {RonS} ug
[11:22] {Threei} must be snowing in hawaii
[11:22] {Threei} 1:1
[11:22] {jfjf64} dieeeeeeeeeeeeeeeeee
[11:22] {RonS} ty
[11:27] {RonS} ...finally rimm .21 to .04 thanks 3i...and jf
[11:28] {Threei} :)
[11:28] {_mohamad} -
[11:29] {Threei} who are you grading with that minus
[11:33] {nemo} hey ese, go to free stock charts activate vwap and look where rimm bounced
[11:33] {Threei} don't do it ese
[11:34] {Threei} I don't know where the catch is but coming from nemo it just has to have one
[11:36] {davd} i see it - off the vwap
[11:36] {nemo} no catch, just the ugly truth
[11:36] {davd} nemo gets 50c per visit
[11:36] {Threei} yeah buit truth sues him for defamation
[11:39] {RonS} dunno 3i, story from many that have credence 3i is that fundie traders are graded by capturing vwap ave or better for buy or sell programs
[11:40] {RonS} graded and paid accordingly
[11:41] {Threei} ummm
[11:41] {Threei} if that's true, then what is the role of skill at all?
[11:42] {Threei} vwap is calculated and available for anyone who bothers to look, no skill required
[11:42] {Threei} any monkey from the street can be trained to bid under it or offer above it
[11:42] {nemo} pivots and vwap are just landmarks on the geography that regularly have an effect. It allows me to moderate my focus so I don't exhaust myself
[11:43] {Threei} not what I am saying nemo
[11:43] {RonS} well...if you had 100k's or millions to place or was having someone else do it how would you gauge performance?
[11:43] {nemo} I understand, just telling you what they mean to me
[11:43] {Threei} Ron.. by the result? :)
[11:44] {Threei} novel concept for the industry, I know :)
[11:45] {RonS} but the fund manager puts out the orders...the traders have to execute them...so this has become their criteria
[11:45] {Threei} well, then I must ask: why this job would be anything but minimum vage?
[11:45] {Threei} wage
[11:46] {RonS} in other words manager says buy 100k sh rimm today...get vwap get slary get vwap + 10% berter get bonus...et al
[11:46] {Threei} right
[11:46] {RonS} better
[11:47] {Threei} so, tell me... if you were a trainer for this job, how long would it take you to train a complete newbie to do it?
[11:47] {Threei} high school educated
[11:47] {Threei} walk in from the street
[11:47] {Threei} not a total imbecile, but lacking any skills
[11:47] {Threei} would it be any longer than burger-flipping?
[11:48] {Threei} I asm not saying it's not true... could be
[11:49] {Threei} but if it is, then this job is no longer one that requires skill
[11:49] {Threei} and won't be desirable high end job for much longer
[11:51] {RonS} at least there is some performance criterion here, unlike coporate ceo or the freakin government
[11:52] {Threei} yeah
[11:52] {Threei} a few weeks ago I was contacted by a fund that runs OPM
[11:53] {Threei} matter of discussion - managing part of their portfolio for the active intraday trading
[11:53] {Threei} single criteria of being paid: profit
[11:55] {Threei} so... I guess I'll tell them off... as long as I get prices bettwer than WVAP, I expect to be paid :)
[11:57] {Threei} Short Setup: CAT .40 break half lot
[11:57] {Threei} stop above .50
[12:03] {Threei} 1:1
[12:07] {dino} 2357 ndx gap filled
[12:07] {Threei} over 1:2
[12:07] {Threei} out
[12:24] {dino} vtus drop
[12:34] {dino} sm l vtus ave .74
[12:43] {Threei} IMF's Strauss Kahn ordered to be held without bail following defense attorney request for $1M bail amount- Next court appearance scheduled for May 20
[12:44] {Threei} (PO) EU Finance Ministers agree on 78B Portugal rescue package
[12:44] {Threei} - Note that an unnamed European ministed noted that there was also an understanding that Greece will need further funding.
[12:44] {Threei} - European nations are said to be pushing for collateral on any new loans.
[12:44] {Threei} - European partners remark that Greece's privitization plans are unambitious.
[12:44] {Threei} - One proposal call for establishment of a panel of outside experts to conduct Greek asset sales.
[12:44] {nemo} ese, look where clf bounced
[12:45] {nemo} oh...he leeft
[12:52] {RonS} aapl lod
[12:56] {davd} amzn too lod
[12:56] {davd} weak hi flyers
[12:59] {Threei} once again, pure currency move
[13:00] {davd} i dont see it 3i - uup sitting firm down .1?
[13:01] {Threei} UUP moved up from 21.55
[13:01] {Threei} sending market down, AAPL and AMZN with it
[13:01] {Threei} see it?
[13:02] {davd} yeesh who sees amzn support level?
[13:03] {Threei} 195 on daily
[13:03] {davd} ii - see it
[13:03] {dino} wlk sm l .01
[13:03] {Threei} after that, bottomless for another 10 bucks or so
[13:05] {dino} vit sm l .05
[13:09] {davd} l x 45.3
[13:10] {dino} nit stopped again
[13:10] {dino} vit
[13:11] {RonS} oil futes knifing through s1 97.48
[13:11] {nemo} down or up
[13:12] {RonS} down but now hovering...
[13:12] {nemo} mmmhhh....haven't insulted you today, must be slipping
[13:13] {RonS} es new order flow neg low
[13:16] {davd} amzn 195.37 is 10 day low
[13:16] {RonS} sorry, previous post s/b nq
[13:18] {RonS} feels like everything is trying to catch a falling knife...will be looking for the algo buyers to set the low
[13:19] {RonS} or 3i of course...
[13:19] {Threei} lol
[13:21] {Threei} watching SKW for short on 34 break
[13:22] {Threei} SLW
[13:22] {Threei} not ready yet but if consolidates abit...
[13:22] {Threei} and helped by that same onmnipresent UUP of course
[13:29] {Threei} Imax Corp Ticking higher on chatter the CEO may have pulled out from an upcoming conference- NOTE: IMAX is scheduled to present at a JP Morgan tech conf on May 17.
[13:29] {davd} out x flat
[13:31] {Threei} Trump Is Out of President Race
[13:32] {RonS} lol
[13:32] {Threei} was he ever in?
[13:33] {RonS} ...did not want to cause a hair spray shortage...
[13:34] {nemo} nice one
[13:48] {dino} vit rinsed twice
[13:50] {RonS} old Chinese prover: "going to laundry better than taken to cleaners."
[13:50] {RonS} proverb
[13:52] {RonS} material for 3i book on Confucianism...
[13:53] {nemo} nah...no confucianism here
[13:53] {Threei} nope
[13:53] {RonS} or maybe his script for a new Charlie Chan movie...
[13:55] {RonS} or a book on dumbass quotes?
[13:55] {RonS} :D
[13:55] {nemo} you're the authority
[13:55] {RonS} true dat
[14:00] {nemo} JCP
[14:01] {RonS} james cash penny
[14:01] {RonS} rimm kinda strong today v aapl
[14:07] {RonS} rimm hod
[14:15] {RonS} dfs 52 week high off coh better loan loss
[14:15] {RonS} cof
[14:38] {davd} good call re amzn threei
[14:39] {davd} ... prep for self depricating joke...
[14:39] {Threei} lol, I can't chose between them
[14:40] {Threei} starting with simplistic 'I called amzn?"
[14:40] {Threei} to "yeah, those chicken entrails do work"
[14:41] {davd} stopped watch correct twice a day?
[14:41] {Threei} no, nemo has dibs on that one
[14:41] {Threei} I tried to buy it out from him
[14:42] {nemo} send royalties
[14:42] {Threei} but his "two boxes of Grey Goose a day" price is a bit too high
[14:42] {nemo} o.k. one a day will be fine...deal
[14:42] {davd} l aapl 333.95
[14:45] {RonS} new nq fute neg order flow low
[14:48] {tomg} short this pb on slw, vad?
[14:49] {Threei} I think so
[14:49] {tomg} ty
[14:49] {Threei} it bounced perefectly into resistance
[15:02] {Threei} you out yet tom?
[15:02] {tomg} yes, at .85
[15:02] {Threei} :)
[15:05] {Threei} up or down toward the eod
[15:06] {Threei} my guts says up
[15:06] {Threei} anyone has dfferent view?
[15:06] {RonS} up
[15:06] {Threei} let's see if we can get pullback for entry
[15:06] {davd} imo up. commodities holding and financial relatively string
[15:06] {Threei} FCX under .60,
[15:06] {davd} strong
[15:07] {Threei} X under .10,
[15:07] {Threei} CAT under .10
[15:13] {davd} how does the 30yr keep going up? i really cant believe it.
[15:13] {Threei} Long Setup: X .10 break
[15:13] {Threei} if hokding 45
[15:14] {Threei} Long Setup: CAT 106 break
[15:16] {nemo} did you mean long or short on cat?
[15:16] {Threei} ummm
[15:16] {Threei} 15:06] {Threei} my guts says up
[15:16] {Threei} [15:06] {Threei} let's see if we can get pullback for entry
[15:16] {Threei} [15:07] {Threei} CAT under .10
[15:16] {Threei} [15:14] {Threei} Long Setup: CAT 106 break
[15:17] {Threei} I'd say, strong case made for long
[15:18] {Threei} 1:1
[15:35] {Threei} Microsoft Corp Microsoft and Facebook expanding partnership on Bing search - financial press- Says Google cannot compete with Bing-Facebook links.
[15:36] {Threei} remind me to back away a few steps while these behemoths are hitting each other with their foreheads
[15:41] {davd} apparently amzn server was used to hack into sony?
[15:51] {Threei} UUP didn't look like finishing at the high today, did it
[15:51] {tomg} nope
[15:51] {Threei} surprized me a bit
[15:53] {dino} wow ndx -1.8% today
[15:54] {dino} next gap areas 12086, 2306, 1312
[15:57] {Threei} (US) S&P500 testing 1,329 - lowest level since Apr 20th
[15:57] {Threei} hmmm
[15:57] {Threei} what is the point of picking arbitrary date and comparing current price with that?
[15:58] {dino} need something to say i guess
[15:58] {Threei} yeah... what is it about Apr 20 that makes it special? :)_
[15:58] {tomg} Hitler's birthday
[15:58] {Threei} lol
[15:59] {tomg} :)
[16:00] {Threei} thank you all
[16:00] {Threei} havea good evening, see you tomorrow
[16:00] {dino} slow day for me
[16:00] {tomg} thanks vad
[16:00] {Threei} same here dino, but still in green
[16:01] {dino} gj
[16:01] {dino} been off my game last two days
[16:01] {nemo} My open cinched it for me
[16:03] {Threei} that was nice long
[16:03] {Threei} fading the setup
[16:03] {dino} gj nemo
[16:03] {dino} gn all
[16:03] {tomg} gn dino,all
[16:04] {tomg} i wanted to take that break of .80 this a.m. but no guts
[16:04] {tomg} anyway, gj nemo
[16:05] {larisa} bye :)
Monday, May 16, 2011
Friday, May 13, 2011
May 13 2011
The week ended on the same note - boring and profitable. RMBS with its record-setting 7 halts was the most entertaining spectacle. Good thing we stayed away. Must be gut-wrenching to get caught in that.
Session Time: Fri May 13 00:00:00 2011
[08:49] {Threei} PINCO's El-Erian: reiterates its not clear who will step in and buy US Treasuries at these yield levels once QE2 ends
[08:49] {Threei} - Says "employment numbers still a little bit shaky" and other recent economic data is showing weakness
[08:50] {nemo} That's a nice way of saying we're screwed
[08:50] {Threei} yeah
[08:51] {nemo} now...about the eagles...
[08:51] {Threei} nice p;osition to be in: no way to continue with QE without crashing dollar, and what to do if no one buys those reasuries anymore?
[08:51] {nemo} yeah, the $ crashes
[08:52] {nemo} so....either way, the $ crashes
[08:52] {Threei} I am not sure it does in latter case
[08:52] {nemo} if no one buys treasuries, how do you finance the debt?
[08:53] {Threei} on one side, yes...
[08:53] {Threei} on eanother, we may see the repetition of the scenario when everyone suddenly needs dollars
[08:54] {Threei} supply dries up, and reserve currency status is still there
[09:04] {RonS} gm...dds gapping up $6.50 w/ 30% short float...12.3 mil sh
[09:04] {Threei} ron :)
[09:09] {dino} gm all
[09:10] {Threei} dino :)
[09:10] {nemo} what routing you use Vad?
[09:11] {Threei} ?
[09:11] {Threei} why is it suddenlt a question?
[09:12] {nemo} I have no idea why it is suddenly a question
[09:12] {ese} gm
[09:13] {Threei} ok, I am lost... but I usually use Nasdaq
[09:13] {Threei} ese :)
[09:13] {nemo} that's what I thought
[09:13] {Threei} so why do you ask?
[09:13] {nemo} Why do you think?
[09:14] {Threei} I don't
[09:14] {nemo} obviously
[09:14] {RonS} Analyst Actions: Westlake Chemical Upgraded to Overweight from Neutral at JP Morgan 05/13 06:11 AM
[09:15] {RonS} Price target is raised to $66 from $60
[09:16] {RonS} wlk 1.7 mil sh short
[09:20] {_samire} gm
[09:20] {Threei} samire :)
[09:23] {Threei} bizarre
[09:23] {Threei} Euro Group contemplating asking Greece to pledge collateral against future borrowings - Dealers
[09:23] {Threei} - Dealers noted thatthe country's 2010 bailout only covered its funding needs for two years under the assumption that Greece could raise 27B in 2012
[09:23] {Threei} - A second bailout appears unavoidable if Greece cannot raise the funds in 2012 while collateralizing the loans would make a second bailout easier
[09:24] {RonS} w/ what? the Parthenon?
[09:24] {larisa} gm :)
[09:24] {Threei} larisa :)
[09:25] {larisa} :)
[09:26] {dino} lol
[09:26] {Threei} gap up looks to be a "sell into"
[09:26] {Threei} SLW looks like short on .35 break
[09:27] {Threei} hopefully gives us a chance
[09:32] {ese} l vrml .96
[09:32] {Threei} Short Setup: SLW .30 break
[09:32] {Threei} if stays under .40
[09:32] {ese} out vrml .41
[09:33] {ese} +.46
[09:33] {nemo} nice ese
[09:33] {dino} gj
[09:33] {ese} tks
[09:33] {ese} don't find them to often right of the bat
[09:33] {Threei} Short Setup: RIMM .65 break
[09:34] {Threei} if stays under .75
[09:34] {Threei} SLW 1:1
[09:34] {Threei} 1:2
[09:35] {Threei} RIMM 1:1
[09:35] {Threei} stop to .71 RIMM
[09:40] {Threei} RIMM is ready to crater
[09:40] {Threei} needs to lose .50
[09:42] {Threei} stop to .66
[09:43] {Threei} over 1:2
[09:43] {Threei} if holding last part still, stop to .61
[09:44] {Threei} not covering at 1:3
[09:44] {Threei} will try to let it ride
[09:44] {Threei} 1:3
[09:44] {Threei} stop to .55
[09:46] {Threei} Short Setup: SLW .45 break
[09:46] {Threei} stop above .55
[09:47] {Threei} 1:1
[09:47] {jfjf64} mornin
[09:48] {Threei} hey jf
[09:48] {Threei} (US) Preview: May Preliminary University of Michigan Confidence Index due out at 09:55ET (13:55 GMT)**Consensus expectation: 70.0e v 69.8 April Final
[09:48] {jfjf64} internet probs
[09:48] {jfjf64} cost me
[09:48] {Threei} yeah
[09:48] {Threei} last one scalpers win
[09:48] {jfjf64} tao says no biggie
[09:49] {Threei} tao, maybe... now, tao practitioner in nemo smacks you up and down with 2x4
[09:49] {jfjf64} lol
[09:49] {nemo} IL
[09:51] {Threei} RIMM stop to .51
[09:53] {dino} nemo, ty il, +.30
[09:54] {nemo} yeah, I tried to get .02, jumped my bid
[09:54] {Threei} Short Setup: SLW .45 break
[09:54] {Threei} if stays under .55
[09:55] {Threei} invalidated
[09:55] {Threei} *(US) MAY PRELIMINARY UNIVERSITY OF MICHIGAN CONFIDENCE: 72.4 V 70.0E
[09:57] {dino} irf sm l .50
[10:03] {Threei} Short Setup: X.15 break
[10:03] {nemo} that threw me off
[10:03] {Threei} too fast...
[10:03] {Threei} see if gives second chance
[10:04] {ese} IL nemo.......nice spot
[10:04] {Threei} X got away
[10:09] {Threei} Short Setup: FCX .80 break half lot
[10:10] {Threei} let's make it aggressive, 90
[10:10] {Threei} if stays under 49
[10:10] {Threei} invalidated
[10:15] {jfjf64} rig
[10:15] {jfjf64} dtop
[10:15] {jfjf64} 69.00
[10:15] {jfjf64} ?
[10:15] {Threei} looks like
[10:16] {Threei} unless breaks
[10:16] {Threei} .90 break, half lot
[10:16] {Threei} worth trying
[10:16] {Threei} if stays under 69 of course
[10:16] {Threei} nah
[10:17] {jfjf64} naa
[10:20] {Threei} Long Setup: X .40 break
[10:21] {Threei} if stays above .30
[10:22] {Threei} if loses it, switching to bounce hunt from about .20
[10:26] {Threei} in
[10:26] {Threei} ,24
[10:27] {Threei} stop .19
[10:27] {Threei} nah, no go
[10:28] {Threei} I know who hired Iraq's minister of information
[10:28] {dino} crus spike
[10:28] {Threei} (GR) Greek Finance Ministry: have passed the trough of the recession in Greece; country will return to positive annual growth in 2012
[10:33] {Threei} rinse
[10:33] {Threei} should have gone for traditional .15 stop, but no, I had to try and be cutre
[10:34] {RonS} ya, i had a .14 stop and held for .22 to .36
[10:35] {Threei} cool
[10:41] {jfjf64} rig
[10:41] {jfjf64} s
[10:41] {jfjf64} .92
[10:42] {jfjf64} .56
[10:43] {jfjf64} first partial
[10:43] {Threei} wtg
[10:43] {dino} gj
[10:44] {dino} ai sm l .15
[10:46] {jfjf64} die
[10:46] {dino} tho spike
[10:48] {RonS} 4.9 mil sh short
[10:49] {jfjf64} 1/4 left
[10:55] {Threei} beauty
[10:55] {Threei} out yet?
[10:56] {jfjf64} .41 stop
[10:56] {jfjf64} done
[10:56] {Threei} very nice
[10:57] {tomg} slw vad?
[10:57] {tomg} uup upticking
[10:59] {Threei} .80 break was it...
[10:59] {Threei} hate to chase
[11:00] {tomg} ty
[11:00] {Threei} idea is right
[11:00] {Threei} UUP break killed it
[11:01] {tomg} took it, ty
[11:01] {tomg} out 1:1
[11:02] {Threei} :)
[11:03] {tomg} too early :)
[11:05] {RonS} eur now at overnight low
[11:07] {Threei} (LB) Italy Foreign min speculates that Colonel Gaddafi may be wounded and may not be in Tripoli
[11:08] {tomg} aggressive entry for .50 break?
[11:09] {tomg} slw
[11:10] {Threei} looks double-bottoming
[11:10] {tomg} yeah, it does, ty
[11:12] {dino} stopped irf flat, comptuer crashed
[11:15] {Threei} Bin Laden's Wives Are Hostile Toward US Interrogators
[11:16] {Threei} that's very surprising
[11:16] {Threei} who could have expected that
[11:16] {dino} just shocking
[11:17] {Threei} after all US did for them
[11:17] {Threei} now, in the most important news of the day:
[11:17] {ese} tisk ttisk tisk..........
[11:17] {Threei} Ashton Kutcher Hints of Replacing Sheen in Two and a Half men
[11:17] {dino} nvda sm l .75
[11:18] {ese} he's less of a psycho........
[11:18] {jfjf64} thanks room monitor
[11:18] {ese} L apl .58
[11:21] {RonS} dang dino why weren't we dogging kro?
[11:22] {ese} L apl avg .54
[11:22] {dino} dk, i seem to be out of it today, not seeing much
[11:22] {dino} tdsc keeps dropping and jumping
[11:23] {jfjf64} support 69.00 rig
[11:24] {RonS} X s .80 break?
[11:27] {_samire} fcx
[11:28] {ese} out 1/3 .70 apl +.16
[11:28] {Threei} X, yes but need consolidation a bit closer
[11:28] {dino} partial fill tdsc l .26
[11:29] {jfjf64} ya like breakdn rig 69.00
[11:29] {Threei} I think so
[11:29] {Threei} (EU) Euro zone ESM plan may include liability for private creditors for all new govt bonds issued in the eurozone starting in mid 2013 - financial press, citing sources
[11:29] {Threei} - Report cites a working draft prepared for euro zone finance minister meeting scheduled for Monday, May 16th
[11:29] {Threei} hmmm
[11:29] {Threei} liability for private creditors for all new govt bonds?
[11:29] {jfjf64} ya wd think this time
[11:30] {Threei} I need translation
[11:30] {_samire} y
[11:30] {Threei} does it mean what I think it means?
[11:30] {ese} stop to break even .54
[11:31] {Threei} seriously, someone understands this part?
[11:31] {ese} out another 1/3 avg 84 +.30
[11:31] {Threei} obligatory buying of govt bonds? or I misread it?
[11:31] {dino} nope
[11:32] {dino} dk, no idea 3i
[11:32] {RonS} same here
[11:32] {RonS} gj ese
[11:32] {dino} gj es
[11:32] {ese} out in full .93 +.39
[11:33] {ese} 1k /1k /1k
[11:33] {ese} I didn't see that second fill or portion on T&S......got my money though
[11:34] {ese} tks
[11:36] {dino} stec sm l .00
[11:36] {Threei} ese, call it invisible money and don't tell a salesperson in the store when you spend it... they may not accept it
[11:37] {ese} lol
[11:43] {_samire} market is crazy
[11:44] {ese} always
[11:44] {Threei} market is
[11:44] {Threei} period
[11:45] {Threei} RMBS
[11:45] {Threei} halted
[11:45] {Threei} Rambus Inc US appeals court affirms in part and vacated in part Hynix's appeal of Rambus suit
[11:46] {tomg} vad, i took .50 break slw...good place to get out here?
[11:47] {Threei} quite
[11:47] {tomg} ty
[11:47] {Threei} very nice play
[11:47] {tomg} ty ....learned it from you, of course :)
[11:48] {Threei} I'll take the credit if you insist
[11:48] {Threei} but,
[11:48] {Threei} I would take it even if you hadn't offered
[11:49] {tomg} :) good one
[11:49] {Threei} :)
[11:49] {Threei} RMBS opened
[11:49] {Threei} diaper stock
[11:51] {tomg} seems like market dropping plus uup upticking is combination for that one....?
[11:52] {Threei} actually, it's two sides of the same coin - UUP rise pushes market down
[11:53] {dino} hum-dee-dum
[11:53] {nemo} bored?
[11:53] {tomg} ah, ok...didn't even realize that
[11:53] {tomg} maybe play spy off of that idea?
[11:53] {Threei} it's a phenomenon that became especially pronounced recently
[11:54] {Threei} assets valued in USD react on its moves
[11:54] {Threei} commodities the most,
[11:54] {Threei} but regular stocks do as well
[11:55] {Threei} well, SPY would work in general but reaction is much more immediate and bigger in commodities
[11:55] {Threei} lol, RMBS third halt
[11:55] {Threei} curcuit breakers
[11:55] {tomg} thanks, been away awhile, as you know
[11:55] {tomg} trying not to push wrong buttons :)
[11:55] {Threei} it doesn't matter much... I've been here but spending as much tme in coma as I do, it's the same
[11:56] {Threei} plus, conversations with nemo are very effective in killing brain cells
[11:56] {tomg} you need coma alert :)
[11:57] {tomg} so i can join
[11:59] {Threei} Attention: COMA approaches
[11:59] {tomg} that's great! seriously
[11:59] {Threei} lol
[11:59] {Threei} sheesh, look at RMBS
[12:00] {Threei} USD sets fresh session highs against the AUD, GBP, CHF, EUR, NZD
[12:01] {RonS} halt again?
[12:01] {Threei} yes, lol
[12:02] {Threei} idiots with their circuit breakers
[12:02] {Threei} how nice to get stuck in it
[12:02] {Threei} best intentions pave that road...
[12:02] {dino} just another form of manipulation
[12:02] {Threei} (US) House Republicans announce bills designed to accelerate the closure of the GSEs - financial press
[12:06] {Threei} look at this panic
[12:06] {Threei} traders say screw it, I don't want to touch it
[12:07] {Threei} look at daily, today's candle
[12:07] {Threei} Salvador Dali can't hold a candle to this one
[12:07] {Threei} 5 th halt
[12:07] {RonS} halt again
[12:07] {Threei} lol
[12:09] {RonS} US appeals court: Rambus spoliated but no dismissal 05/13 10:07 AM
[12:10] {RonS} spoliation, the legal term for inappropriate document destruction
[12:11] {Threei} I remember spoilating my USSR military card once
[12:11] {RonS} Court Remands Micron-Rambus Case For More Consideration 05/13 10:03 AM
[12:12] {Threei} RMBS buyer at 21.89 sleeps in the doghouse today
[12:12] {Threei} wife says be thankful you don't sleep with fishes
[12:13] {Threei} betting on 6th halt?
[12:14] {Threei} I say within next 2 min
[12:15] {Threei} (US) Treasury Sec Geithner: Social Security and Medicare benefits are fundamentally secure today, but still need to be reformed
[12:15] {Threei} ***Earlier this morning Medicare trustees reported that new forecasts indicate that Medicare trust fund will be exhausted by 2024, earlier than the prior forecast of 2029.
[12:19] {Threei} halt
[12:20] {Threei} 6th
[12:20] {Threei} took whole 5 min
[12:22] {tomg} that figures about medicare...just when i qualify for it :)
[12:22] {RonS} 6th halt?
[12:25] {_samire} amazing
[12:25] {Threei} going for 7th now, Ron
[12:28] {davd} osama wanted to kill obama - why is this news?
[12:30] {Threei} mutual feeling, I guess
[12:30] {RonS} peace prize holder?
[12:31] {dino} cchi sm l .02
[12:31] {RonS} street cred?
[12:31] {Threei} lol
[12:31] {dino} typo
[12:33] {davd} some say fxa at 105.4 is the top of the dollars, short term
[12:34] {davd} cnbc said that this was causing market to drop:s re osama/obama
[12:34] {RonS} idiots
[12:35] {dino} yeah right, dumb talking heads
[12:35] {Threei} how on earth can that cause anything
[12:36] {Threei} will market drop if document surfaces showing Hitler contemplated assasination of Stalin?
[12:37] {Threei} really, folks whose brain is located in their butt shouldn't talk sitting - blood flow is cut off
[12:37] {Threei} (GR) EU, IMF, Germany support longer maturities for Greek debt; ECB and France still oppose it - Die Welt
[12:38] {_samire} INTERESTING
[12:38] {Threei} what, brain/butt theory?
[12:38] {davd} i guess now that we realize that obama is dead, the market will now rally :D
[12:38] {Threei} osama you mean
[12:38] {RonS} is that german for "whipped to death"?
[12:39] {RonS} die welt...
[12:39] {Threei} Die Welt? lol
[12:39] {Threei} - Die Welt summarizes positions ahead of the next EcoFin meeting on Monday.
[12:39] {Threei} - Germany supports "voluntary restructuring" of Greek debt.
[12:39] {Threei} "voluntary restructuring"?
[12:40] {nemo} Die Welt=The World
06[12:40] * Threei firmly intends to borrow 100 mil, then voluntarily restructure it
[12:53] {_samire} Vad...are you done trading for the day
[12:59] {Threei} see market totally stalled?
[12:59] {Threei} that's my guidance
[12:59] {Threei} while it remains so, what and why would I trade
[13:09] {_samire} great answe
[13:09] {_samire} answer
[13:10] {dino} gut says buy the dip
[13:14] {RonS} x near lod
[13:21] {Threei} USD saves it
[13:28] {Threei} http://photography.realitytrader.com/2011/05/john-lennons-yellow-submarine.html
[13:30] {nemo} SLW might be a short
[13:31] {Threei} I am more of "let's short X" here
[13:32] {Threei} that .50 break Ron was eyeing
[13:36] {ese} have a great weekend
[13:36] {RonS} cya ese...you too...
[13:36] {Threei} take care ese
[13:36] {dino} cya es
[13:37] {Threei} comments below are an eclectic mix of stupidity, incompetence, agenda and lies
[13:37] {Threei} (EU) ECB's Stark: Europe in the worst crisis since World War II; countries in crisis only represent 5% of overall GDP
[13:37] {Threei} - Reiterates that some European nations are in a debt crisis, but the euro is not in crisis; euro provides an anchor of stability. The different levels of growth within the EU is a challenge for the ECB.
[13:37] {Threei} - It is wrong to assume Greece is insolvent; forgiving debts would not solve the larger underlying problems, concerned about contagion
[13:37] {Threei} - Not seeing any need for additional monetary stimulus
[13:37] {Threei} - Claims that ratings agencies are making it more difficult for periphery nations
[13:38] {Threei} worse than an idiot is only an idiot with initiative and agenda
[13:39] {dino} yeah now its the evil rating agencies, six months ago it was the evil speculators...give me a break. just tell the truth for once
[13:41] {RonS} ok. it's evil politicians, banks and monetary authorities...
[13:41] {dino} much more truthful
[13:44] {Threei} about that car, funny story:
[13:44] {Threei} in 60's of an older lady hitting the car with her umbrella, screaming "You swine, how dare you do this to a Roll's-Royce!"
[13:45] {Threei} such strong emotions for a car brand by elderly lady :)
[13:48] {jfjf64} jf wants to vomit
[13:48] {jfjf64} back from lunch
[13:48] {jfjf64} rig
[13:48] {jfjf64} 69.00
[13:48] {jfjf64} grrrrrrrrrrrrrrr
[13:55] {RonS} nq futes looking to test day's lows w/ order flow building on the sell side
[13:56] {RonS} lvs may be a better short...
[13:57] {Threei} everything is in slow motion
[13:58] {RonS} ya, is the market waiting for somethin or falling asleep or both
[13:59] {RonS} vix not moving
[14:00] {Threei} I for one am having troubles keeping my eyelids open
[14:02] {_samire} why
[14:04] {dino} market starting summer fridays it seems, slowwwwwwww
[14:06] {Threei} slow action
[14:06] {Threei} to no action
[14:07] {tomg} have a great weekend everyone. thanks for all your help vad.
[14:08] {Threei} have a good one tom
[14:08] {Threei} thinking of winding down one hour early today too... so, if trialers have any questions, it's time to ask
[14:10] {dino} cya tom
[14:22] {RonS} dino right again...buy the freakin dip
[14:22] {Threei} yeah
[14:24] {RonS} even oil has gone from 97.70 to 99.38 now
[14:31] {dino} ;)
[14:43] {Threei} 51% Blame Extreme Weather on Long-Term Planetary Trends, 19% Blame Human Activity
[14:43] {Threei} inspiringly low % of idiots
[14:44] {Threei} just 19, it's encouraging
[14:44] {RonS} took the poll in India
[14:44] {Threei} Just 23% Say Federal Government Has Consent of the Governed
[14:44] {Threei} okay,,, abotu right
[14:44] {Threei} Only 30% Say U.S.-Mexico Border Secure, 64% Say Its Not
[14:45] {Threei} I think it's those 30% that don't know what continent Mexico is on
[14:45] {RonS} 6% ask is that the one to the north?
[14:45] {Threei} hehe
[14:45] {Threei} 64% of GOP Voters See Divide Between Public and Government As Biggest Since the American Revolution
[14:46] {Threei} Ok guys, I give up, can't handle all the excitement anymore
[14:46] {Threei} we had a decent week
[14:46] {RonS} 34% can't divide so they could not answer
[14:46] {Threei} have a great weekend, see you all on Monday
[14:49] {larisa} bye :)
[14:50] {dino} cya 3i
[14:54] {dino} zzzzzzzzzzzzzzzzzzzzz
[15:38] {dino} out stec -.09
[15:51] {dino} stop ai .92 -.22
[15:58] {dino} out ccih .17, +.15
[16:02] {dino} gn all
Session Time: Fri May 13 00:00:00 2011
[08:49] {Threei} PINCO's El-Erian: reiterates its not clear who will step in and buy US Treasuries at these yield levels once QE2 ends
[08:49] {Threei} - Says "employment numbers still a little bit shaky" and other recent economic data is showing weakness
[08:50] {nemo} That's a nice way of saying we're screwed
[08:50] {Threei} yeah
[08:51] {nemo} now...about the eagles...
[08:51] {Threei} nice p;osition to be in: no way to continue with QE without crashing dollar, and what to do if no one buys those reasuries anymore?
[08:51] {nemo} yeah, the $ crashes
[08:52] {nemo} so....either way, the $ crashes
[08:52] {Threei} I am not sure it does in latter case
[08:52] {nemo} if no one buys treasuries, how do you finance the debt?
[08:53] {Threei} on one side, yes...
[08:53] {Threei} on eanother, we may see the repetition of the scenario when everyone suddenly needs dollars
[08:54] {Threei} supply dries up, and reserve currency status is still there
[09:04] {RonS} gm...dds gapping up $6.50 w/ 30% short float...12.3 mil sh
[09:04] {Threei} ron :)
[09:09] {dino} gm all
[09:10] {Threei} dino :)
[09:10] {nemo} what routing you use Vad?
[09:11] {Threei} ?
[09:11] {Threei} why is it suddenlt a question?
[09:12] {nemo} I have no idea why it is suddenly a question
[09:12] {ese} gm
[09:13] {Threei} ok, I am lost... but I usually use Nasdaq
[09:13] {Threei} ese :)
[09:13] {nemo} that's what I thought
[09:13] {Threei} so why do you ask?
[09:13] {nemo} Why do you think?
[09:14] {Threei} I don't
[09:14] {nemo} obviously
[09:14] {RonS} Analyst Actions: Westlake Chemical Upgraded to Overweight from Neutral at JP Morgan 05/13 06:11 AM
[09:15] {RonS} Price target is raised to $66 from $60
[09:16] {RonS} wlk 1.7 mil sh short
[09:20] {_samire} gm
[09:20] {Threei} samire :)
[09:23] {Threei} bizarre
[09:23] {Threei} Euro Group contemplating asking Greece to pledge collateral against future borrowings - Dealers
[09:23] {Threei} - Dealers noted thatthe country's 2010 bailout only covered its funding needs for two years under the assumption that Greece could raise 27B in 2012
[09:23] {Threei} - A second bailout appears unavoidable if Greece cannot raise the funds in 2012 while collateralizing the loans would make a second bailout easier
[09:24] {RonS} w/ what? the Parthenon?
[09:24] {larisa} gm :)
[09:24] {Threei} larisa :)
[09:25] {larisa} :)
[09:26] {dino} lol
[09:26] {Threei} gap up looks to be a "sell into"
[09:26] {Threei} SLW looks like short on .35 break
[09:27] {Threei} hopefully gives us a chance
[09:32] {ese} l vrml .96
[09:32] {Threei} Short Setup: SLW .30 break
[09:32] {Threei} if stays under .40
[09:32] {ese} out vrml .41
[09:33] {ese} +.46
[09:33] {nemo} nice ese
[09:33] {dino} gj
[09:33] {ese} tks
[09:33] {ese} don't find them to often right of the bat
[09:33] {Threei} Short Setup: RIMM .65 break
[09:34] {Threei} if stays under .75
[09:34] {Threei} SLW 1:1
[09:34] {Threei} 1:2
[09:35] {Threei} RIMM 1:1
[09:35] {Threei} stop to .71 RIMM
[09:40] {Threei} RIMM is ready to crater
[09:40] {Threei} needs to lose .50
[09:42] {Threei} stop to .66
[09:43] {Threei} over 1:2
[09:43] {Threei} if holding last part still, stop to .61
[09:44] {Threei} not covering at 1:3
[09:44] {Threei} will try to let it ride
[09:44] {Threei} 1:3
[09:44] {Threei} stop to .55
[09:46] {Threei} Short Setup: SLW .45 break
[09:46] {Threei} stop above .55
[09:47] {Threei} 1:1
[09:47] {jfjf64} mornin
[09:48] {Threei} hey jf
[09:48] {Threei} (US) Preview: May Preliminary University of Michigan Confidence Index due out at 09:55ET (13:55 GMT)**Consensus expectation: 70.0e v 69.8 April Final
[09:48] {jfjf64} internet probs
[09:48] {jfjf64} cost me
[09:48] {Threei} yeah
[09:48] {Threei} last one scalpers win
[09:48] {jfjf64} tao says no biggie
[09:49] {Threei} tao, maybe... now, tao practitioner in nemo smacks you up and down with 2x4
[09:49] {jfjf64} lol
[09:49] {nemo} IL
[09:51] {Threei} RIMM stop to .51
[09:53] {dino} nemo, ty il, +.30
[09:54] {nemo} yeah, I tried to get .02, jumped my bid
[09:54] {Threei} Short Setup: SLW .45 break
[09:54] {Threei} if stays under .55
[09:55] {Threei} invalidated
[09:55] {Threei} *(US) MAY PRELIMINARY UNIVERSITY OF MICHIGAN CONFIDENCE: 72.4 V 70.0E
[09:57] {dino} irf sm l .50
[10:03] {Threei} Short Setup: X.15 break
[10:03] {nemo} that threw me off
[10:03] {Threei} too fast...
[10:03] {Threei} see if gives second chance
[10:04] {ese} IL nemo.......nice spot
[10:04] {Threei} X got away
[10:09] {Threei} Short Setup: FCX .80 break half lot
[10:10] {Threei} let's make it aggressive, 90
[10:10] {Threei} if stays under 49
[10:10] {Threei} invalidated
[10:15] {jfjf64} rig
[10:15] {jfjf64} dtop
[10:15] {jfjf64} 69.00
[10:15] {jfjf64} ?
[10:15] {Threei} looks like
[10:16] {Threei} unless breaks
[10:16] {Threei} .90 break, half lot
[10:16] {Threei} worth trying
[10:16] {Threei} if stays under 69 of course
[10:16] {Threei} nah
[10:17] {jfjf64} naa
[10:20] {Threei} Long Setup: X .40 break
[10:21] {Threei} if stays above .30
[10:22] {Threei} if loses it, switching to bounce hunt from about .20
[10:26] {Threei} in
[10:26] {Threei} ,24
[10:27] {Threei} stop .19
[10:27] {Threei} nah, no go
[10:28] {Threei} I know who hired Iraq's minister of information
[10:28] {dino} crus spike
[10:28] {Threei} (GR) Greek Finance Ministry: have passed the trough of the recession in Greece; country will return to positive annual growth in 2012
[10:33] {Threei} rinse
[10:33] {Threei} should have gone for traditional .15 stop, but no, I had to try and be cutre
[10:34] {RonS} ya, i had a .14 stop and held for .22 to .36
[10:35] {Threei} cool
[10:41] {jfjf64} rig
[10:41] {jfjf64} s
[10:41] {jfjf64} .92
[10:42] {jfjf64} .56
[10:43] {jfjf64} first partial
[10:43] {Threei} wtg
[10:43] {dino} gj
[10:44] {dino} ai sm l .15
[10:46] {jfjf64} die
[10:46] {dino} tho spike
[10:48] {RonS} 4.9 mil sh short
[10:49] {jfjf64} 1/4 left
[10:55] {Threei} beauty
[10:55] {Threei} out yet?
[10:56] {jfjf64} .41 stop
[10:56] {jfjf64} done
[10:56] {Threei} very nice
[10:57] {tomg} slw vad?
[10:57] {tomg} uup upticking
[10:59] {Threei} .80 break was it...
[10:59] {Threei} hate to chase
[11:00] {tomg} ty
[11:00] {Threei} idea is right
[11:00] {Threei} UUP break killed it
[11:01] {tomg} took it, ty
[11:01] {tomg} out 1:1
[11:02] {Threei} :)
[11:03] {tomg} too early :)
[11:05] {RonS} eur now at overnight low
[11:07] {Threei} (LB) Italy Foreign min speculates that Colonel Gaddafi may be wounded and may not be in Tripoli
[11:08] {tomg} aggressive entry for .50 break?
[11:09] {tomg} slw
[11:10] {Threei} looks double-bottoming
[11:10] {tomg} yeah, it does, ty
[11:12] {dino} stopped irf flat, comptuer crashed
[11:15] {Threei} Bin Laden's Wives Are Hostile Toward US Interrogators
[11:16] {Threei} that's very surprising
[11:16] {Threei} who could have expected that
[11:16] {dino} just shocking
[11:17] {Threei} after all US did for them
[11:17] {Threei} now, in the most important news of the day:
[11:17] {ese} tisk ttisk tisk..........
[11:17] {Threei} Ashton Kutcher Hints of Replacing Sheen in Two and a Half men
[11:17] {dino} nvda sm l .75
[11:18] {ese} he's less of a psycho........
[11:18] {jfjf64} thanks room monitor
[11:18] {ese} L apl .58
[11:21] {RonS} dang dino why weren't we dogging kro?
[11:22] {ese} L apl avg .54
[11:22] {dino} dk, i seem to be out of it today, not seeing much
[11:22] {dino} tdsc keeps dropping and jumping
[11:23] {jfjf64} support 69.00 rig
[11:24] {RonS} X s .80 break?
[11:27] {_samire} fcx
[11:28] {ese} out 1/3 .70 apl +.16
[11:28] {Threei} X, yes but need consolidation a bit closer
[11:28] {dino} partial fill tdsc l .26
[11:29] {jfjf64} ya like breakdn rig 69.00
[11:29] {Threei} I think so
[11:29] {Threei} (EU) Euro zone ESM plan may include liability for private creditors for all new govt bonds issued in the eurozone starting in mid 2013 - financial press, citing sources
[11:29] {Threei} - Report cites a working draft prepared for euro zone finance minister meeting scheduled for Monday, May 16th
[11:29] {Threei} hmmm
[11:29] {Threei} liability for private creditors for all new govt bonds?
[11:29] {jfjf64} ya wd think this time
[11:30] {Threei} I need translation
[11:30] {_samire} y
[11:30] {Threei} does it mean what I think it means?
[11:30] {ese} stop to break even .54
[11:31] {Threei} seriously, someone understands this part?
[11:31] {ese} out another 1/3 avg 84 +.30
[11:31] {Threei} obligatory buying of govt bonds? or I misread it?
[11:31] {dino} nope
[11:32] {dino} dk, no idea 3i
[11:32] {RonS} same here
[11:32] {RonS} gj ese
[11:32] {dino} gj es
[11:32] {ese} out in full .93 +.39
[11:33] {ese} 1k /1k /1k
[11:33] {ese} I didn't see that second fill or portion on T&S......got my money though
[11:34] {ese} tks
[11:36] {dino} stec sm l .00
[11:36] {Threei} ese, call it invisible money and don't tell a salesperson in the store when you spend it... they may not accept it
[11:37] {ese} lol
[11:43] {_samire} market is crazy
[11:44] {ese} always
[11:44] {Threei} market is
[11:44] {Threei} period
[11:45] {Threei} RMBS
[11:45] {Threei} halted
[11:45] {Threei} Rambus Inc US appeals court affirms in part and vacated in part Hynix's appeal of Rambus suit
[11:46] {tomg} vad, i took .50 break slw...good place to get out here?
[11:47] {Threei} quite
[11:47] {tomg} ty
[11:47] {Threei} very nice play
[11:47] {tomg} ty ....learned it from you, of course :)
[11:48] {Threei} I'll take the credit if you insist
[11:48] {Threei} but,
[11:48] {Threei} I would take it even if you hadn't offered
[11:49] {tomg} :) good one
[11:49] {Threei} :)
[11:49] {Threei} RMBS opened
[11:49] {Threei} diaper stock
[11:51] {tomg} seems like market dropping plus uup upticking is combination for that one....?
[11:52] {Threei} actually, it's two sides of the same coin - UUP rise pushes market down
[11:53] {dino} hum-dee-dum
[11:53] {nemo} bored?
[11:53] {tomg} ah, ok...didn't even realize that
[11:53] {tomg} maybe play spy off of that idea?
[11:53] {Threei} it's a phenomenon that became especially pronounced recently
[11:54] {Threei} assets valued in USD react on its moves
[11:54] {Threei} commodities the most,
[11:54] {Threei} but regular stocks do as well
[11:55] {Threei} well, SPY would work in general but reaction is much more immediate and bigger in commodities
[11:55] {Threei} lol, RMBS third halt
[11:55] {Threei} curcuit breakers
[11:55] {tomg} thanks, been away awhile, as you know
[11:55] {tomg} trying not to push wrong buttons :)
[11:55] {Threei} it doesn't matter much... I've been here but spending as much tme in coma as I do, it's the same
[11:56] {Threei} plus, conversations with nemo are very effective in killing brain cells
[11:56] {tomg} you need coma alert :)
[11:57] {tomg} so i can join
[11:59] {Threei} Attention: COMA approaches
[11:59] {tomg} that's great! seriously
[11:59] {Threei} lol
[11:59] {Threei} sheesh, look at RMBS
[12:00] {Threei} USD sets fresh session highs against the AUD, GBP, CHF, EUR, NZD
[12:01] {RonS} halt again?
[12:01] {Threei} yes, lol
[12:02] {Threei} idiots with their circuit breakers
[12:02] {Threei} how nice to get stuck in it
[12:02] {Threei} best intentions pave that road...
[12:02] {dino} just another form of manipulation
[12:02] {Threei} (US) House Republicans announce bills designed to accelerate the closure of the GSEs - financial press
[12:06] {Threei} look at this panic
[12:06] {Threei} traders say screw it, I don't want to touch it
[12:07] {Threei} look at daily, today's candle
[12:07] {Threei} Salvador Dali can't hold a candle to this one
[12:07] {Threei} 5 th halt
[12:07] {RonS} halt again
[12:07] {Threei} lol
[12:09] {RonS} US appeals court: Rambus spoliated but no dismissal 05/13 10:07 AM
[12:10] {RonS} spoliation, the legal term for inappropriate document destruction
[12:11] {Threei} I remember spoilating my USSR military card once
[12:11] {RonS} Court Remands Micron-Rambus Case For More Consideration 05/13 10:03 AM
[12:12] {Threei} RMBS buyer at 21.89 sleeps in the doghouse today
[12:12] {Threei} wife says be thankful you don't sleep with fishes
[12:13] {Threei} betting on 6th halt?
[12:14] {Threei} I say within next 2 min
[12:15] {Threei} (US) Treasury Sec Geithner: Social Security and Medicare benefits are fundamentally secure today, but still need to be reformed
[12:15] {Threei} ***Earlier this morning Medicare trustees reported that new forecasts indicate that Medicare trust fund will be exhausted by 2024, earlier than the prior forecast of 2029.
[12:19] {Threei} halt
[12:20] {Threei} 6th
[12:20] {Threei} took whole 5 min
[12:22] {tomg} that figures about medicare...just when i qualify for it :)
[12:22] {RonS} 6th halt?
[12:25] {_samire} amazing
[12:25] {Threei} going for 7th now, Ron
[12:28] {davd} osama wanted to kill obama - why is this news?
[12:30] {Threei} mutual feeling, I guess
[12:30] {RonS} peace prize holder?
[12:31] {dino} cchi sm l .02
[12:31] {RonS} street cred?
[12:31] {Threei} lol
[12:31] {dino} typo
[12:33] {davd} some say fxa at 105.4 is the top of the dollars, short term
[12:34] {davd} cnbc said that this was causing market to drop:s re osama/obama
[12:34] {RonS} idiots
[12:35] {dino} yeah right, dumb talking heads
[12:35] {Threei} how on earth can that cause anything
[12:36] {Threei} will market drop if document surfaces showing Hitler contemplated assasination of Stalin?
[12:37] {Threei} really, folks whose brain is located in their butt shouldn't talk sitting - blood flow is cut off
[12:37] {Threei} (GR) EU, IMF, Germany support longer maturities for Greek debt; ECB and France still oppose it - Die Welt
[12:38] {_samire} INTERESTING
[12:38] {Threei} what, brain/butt theory?
[12:38] {davd} i guess now that we realize that obama is dead, the market will now rally :D
[12:38] {Threei} osama you mean
[12:38] {RonS} is that german for "whipped to death"?
[12:39] {RonS} die welt...
[12:39] {Threei} Die Welt? lol
[12:39] {Threei} - Die Welt summarizes positions ahead of the next EcoFin meeting on Monday.
[12:39] {Threei} - Germany supports "voluntary restructuring" of Greek debt.
[12:39] {Threei} "voluntary restructuring"?
[12:40] {nemo} Die Welt=The World
06[12:40] * Threei firmly intends to borrow 100 mil, then voluntarily restructure it
[12:53] {_samire} Vad...are you done trading for the day
[12:59] {Threei} see market totally stalled?
[12:59] {Threei} that's my guidance
[12:59] {Threei} while it remains so, what and why would I trade
[13:09] {_samire} great answe
[13:09] {_samire} answer
[13:10] {dino} gut says buy the dip
[13:14] {RonS} x near lod
[13:21] {Threei} USD saves it
[13:28] {Threei} http://photography.realitytrader.com/2011/05/john-lennons-yellow-submarine.html
[13:30] {nemo} SLW might be a short
[13:31] {Threei} I am more of "let's short X" here
[13:32] {Threei} that .50 break Ron was eyeing
[13:36] {ese} have a great weekend
[13:36] {RonS} cya ese...you too...
[13:36] {Threei} take care ese
[13:36] {dino} cya es
[13:37] {Threei} comments below are an eclectic mix of stupidity, incompetence, agenda and lies
[13:37] {Threei} (EU) ECB's Stark: Europe in the worst crisis since World War II; countries in crisis only represent 5% of overall GDP
[13:37] {Threei} - Reiterates that some European nations are in a debt crisis, but the euro is not in crisis; euro provides an anchor of stability. The different levels of growth within the EU is a challenge for the ECB.
[13:37] {Threei} - It is wrong to assume Greece is insolvent; forgiving debts would not solve the larger underlying problems, concerned about contagion
[13:37] {Threei} - Not seeing any need for additional monetary stimulus
[13:37] {Threei} - Claims that ratings agencies are making it more difficult for periphery nations
[13:38] {Threei} worse than an idiot is only an idiot with initiative and agenda
[13:39] {dino} yeah now its the evil rating agencies, six months ago it was the evil speculators...give me a break. just tell the truth for once
[13:41] {RonS} ok. it's evil politicians, banks and monetary authorities...
[13:41] {dino} much more truthful
[13:44] {Threei} about that car, funny story:
[13:44] {Threei} in 60's of an older lady hitting the car with her umbrella, screaming "You swine, how dare you do this to a Roll's-Royce!"
[13:45] {Threei} such strong emotions for a car brand by elderly lady :)
[13:48] {jfjf64} jf wants to vomit
[13:48] {jfjf64} back from lunch
[13:48] {jfjf64} rig
[13:48] {jfjf64} 69.00
[13:48] {jfjf64} grrrrrrrrrrrrrrr
[13:55] {RonS} nq futes looking to test day's lows w/ order flow building on the sell side
[13:56] {RonS} lvs may be a better short...
[13:57] {Threei} everything is in slow motion
[13:58] {RonS} ya, is the market waiting for somethin or falling asleep or both
[13:59] {RonS} vix not moving
[14:00] {Threei} I for one am having troubles keeping my eyelids open
[14:02] {_samire} why
[14:04] {dino} market starting summer fridays it seems, slowwwwwwww
[14:06] {Threei} slow action
[14:06] {Threei} to no action
[14:07] {tomg} have a great weekend everyone. thanks for all your help vad.
[14:08] {Threei} have a good one tom
[14:08] {Threei} thinking of winding down one hour early today too... so, if trialers have any questions, it's time to ask
[14:10] {dino} cya tom
[14:22] {RonS} dino right again...buy the freakin dip
[14:22] {Threei} yeah
[14:24] {RonS} even oil has gone from 97.70 to 99.38 now
[14:31] {dino} ;)
[14:43] {Threei} 51% Blame Extreme Weather on Long-Term Planetary Trends, 19% Blame Human Activity
[14:43] {Threei} inspiringly low % of idiots
[14:44] {Threei} just 19, it's encouraging
[14:44] {RonS} took the poll in India
[14:44] {Threei} Just 23% Say Federal Government Has Consent of the Governed
[14:44] {Threei} okay,,, abotu right
[14:44] {Threei} Only 30% Say U.S.-Mexico Border Secure, 64% Say Its Not
[14:45] {Threei} I think it's those 30% that don't know what continent Mexico is on
[14:45] {RonS} 6% ask is that the one to the north?
[14:45] {Threei} hehe
[14:45] {Threei} 64% of GOP Voters See Divide Between Public and Government As Biggest Since the American Revolution
[14:46] {Threei} Ok guys, I give up, can't handle all the excitement anymore
[14:46] {Threei} we had a decent week
[14:46] {RonS} 34% can't divide so they could not answer
[14:46] {Threei} have a great weekend, see you all on Monday
[14:49] {larisa} bye :)
[14:50] {dino} cya 3i
[14:54] {dino} zzzzzzzzzzzzzzzzzzzzz
[15:38] {dino} out stec -.09
[15:51] {dino} stop ai .92 -.22
[15:58] {dino} out ccih .17, +.15
[16:02] {dino} gn all
Thursday, May 12, 2011
May 12 2011
Another day by the same scenario: nice active profitable morning, then deep coma.
Session Time: Thu May 12 00:00:00 2011
[08:34] {Threei} (US) INITIAL JOBLESS CLAIMS: 434K V 430KE; CONTINUING CLAIMS: 3.756M V 3.70ME
[08:34] {Threei} - Prior Initial Jobless Claims revised higher from 474K to 478K
[08:34] {Threei} - Prior Continuing Claims revised higher from 3.733M to 3.751M
[08:34] {Threei} - 4 week Avg claims: 436.8K v 431.3K prior
[09:10] {Threei} IMF Official: Latin American countries should prepare for potential declines in the price of commodities in the future
[09:11] {Threei} interesting comment
[09:15] {dino} gm all
[09:15] {Threei} dino :)
[09:16] {_toodlepip} morning
[09:16] {Threei} morning toodlepip
[09:17] {Threei} SLW bounce on UUP pullback
[09:21] {RonS} gm all...feel like i am back in the great northwet...second day of steady rain/snow spit at 38 degrees
[09:21] {Threei} Ron :)
[09:22] {larisa} gm :)
[09:22] {Threei} larisa :)
[09:22] {larisa} vad :)
[09:23] {Threei} so far, no clear opening play
[09:23] {dino} ron, that weather was pa all last month
[09:24] {Threei} RIMM daily is still of "short the living daylight out of it" but no clean entry point for now
[09:24] {Threei} keeping that on radar
[09:24] {_samire} gm
[09:25] {Threei} samire :)
[09:26] {_samire} Can I be in charge today.....making all the calls ?
[09:26] {_samire} i do not have charts !!!
[09:26] {_samire} scary
[09:26] {_samire} ando picks
[09:26] {Threei} please do
[09:26] {_samire} random picks
[09:27] {Threei} no different from our favorite dartboard method
[09:27] {_samire} i agrere
[09:27] {_samire} yes
[09:27] {Threei} competing with close second, tea leaves method
[09:27] {_toodlepip} you guys are crazy
[09:28] {Threei} there is however chicken entrails approach which we guard as corporate secret
[09:28] {_toodlepip} you should be using astrology like me
[09:28] {Threei} nah, chicken entrails is much more accurate'
[09:28] {_ebelog} Do you have any beer there while throwing at dart board makes it much more entertaining
[09:28] {Threei} sorry ebelog, folks are expected to bring their own
[09:29] {Threei} OK, SLW
[09:29] {jfjf64} mornin
[09:29] {Threei} not touching it here, rather watching for reversal point,
[09:29] {Threei} short into bounce or long into sharp selloff
[09:29] {Threei} jf :)
[09:31] {Threei} FCX is long candidate, prepare half lot, no entry point yet
[09:32] {Threei} Short Setup: SLW .80 break half lot
[09:32] {Threei} if stays under ,90
[09:32] {Threei} Long Setup: FCX .80 break
[09:33] {Threei} stop under .70
[09:33] {Threei} SLW 1:1
[09:33] {Threei} 1:2
[09:33] {nemo} SLW short, unbelievable, you never see those
[09:33] {jfjf64} ya ya
[09:34] {Threei} lol
[09:34] {Threei} FCX invalidated
[09:34] {jfjf64} how trading room OPERATES
[09:35] {Threei} Long Setup: FCX .70 break
[09:35] {Threei} if stays above .60
[09:35] {Threei} half lot!
[09:35] {Threei} volatility is still way too high
[09:35] {Threei} 1;1
[09:36] {Threei} making some discoveries jf?
[09:36] {nemo} no...busting my balls
[09:36] {jfjf64} ya ya
[09:36] {Threei} out FCX in full
[09:37] {gregns} got both, ty
[09:37] {Threei} RIMM watch for pullback entry
[09:37] {Threei} dfrom under 44
[09:37] {Threei} Long Setup: RIMM 44 break
[09:37] {Threei} stop under .90
[09:37] {Threei} 1;1
[09:37] {Threei} that was fast
[09:37] {Threei} missed personally typing an alert
[09:37] {jfjf64} too fast 4 me
[09:37] {Threei} it's all nemo's fault
[09:37] {Threei} and jf's
[09:38] {nemo} can't blame us, we're here...it's Magoo's fault
[09:38] {RonS} caught fcx for +.17 but sheesh...
[09:38] {jfjf64} keep hunting
[09:38] {jfjf64} 7 min 3 winners
[09:38] {Threei} hey, I can blame whoever I want any time I want, I am in a free speech country
[09:39] {RonS} 7 min 3 heart attacks
[09:39] {Threei} rofl
[09:39] {Threei} sorry Ron
06[09:40] * Threei is mailing Ron defibrillator
[09:40] {RonS} lol i need it...
06[09:40] * Threei adds some diapers to the box
[09:41] {Threei} crap RIMM
[09:41] {Threei} got away
[09:41] {Threei} Long Setup: LVS .75
[09:41] {Threei} if stays above .65
[09:43] {Threei} invalidated
[09:43] {jfjf64} lvs says you left me 4 slw screw ya
[09:44] {Threei} scorned lover eh
[09:44] {Threei} X
[09:44] {Threei} watching for long
[09:46] {Threei} .50 was it... wanted one more leg down
[09:47] {Threei} still do
[09:47] {Threei} what's with CAT
[09:49] {dino} 2375 and 1335 filled
[09:50] {Threei} dino, CAST is about to become your client
[09:50] {Threei} CAT, sorry
[09:50] {dino} 2357, 1312 next gaps
[09:50] {dino} not enough drop 3i for me
[09:50] {_samire} are we in X ?
[09:50] {Threei} no, we missed it
[09:50] {_samire} from .50
[09:51] {_samire} i am paper trading first week
[09:51] {Threei} and I haven't decided whose fault it is yet
[09:51] {dino} wlk sm l ave .72
[09:52] {Threei} Short Setup: RIMM .20 break half lot
[09:52] {Threei} stop above .30
[09:54] {Threei} just a scalp most likely
[09:54] {Threei} maybe 1:1.5
[09:54] {jfjf64} ty room monitor
[09:54] {Threei} 1;1
[09:54] {Threei} 1:1.5
[09:55] {Threei} 1:2
[09:55] {Threei} Ron, how's those diapers, come handy?
[09:55] {RonS} yep
[09:55] {Threei} :)
[09:56] {Threei} just remember, if you attach defibrillator as a permanently working device, your cat might think you've gone mad
[09:56] {dino} wtg today 3i, in the zone
[09:56] {_samire} did u take any off rimm ?
[09:56] {Threei} who?
[09:57] {_samire} rimm short
[09:57] {Threei} why not?
[09:57] {_samire} are u out ?
[09:57] {Threei} it triggered fair and square
[09:57] {Threei} yes
[09:57] {_samire} targrt ?
[09:57] {jfjf64} oh boy
[09:57] {Threei} [09:54] {Threei} just a scalp most likely
[09:57] {Threei} [09:54] {Threei} maybe 1:1.5
[09:57] {_samire} what does this mean
[09:57] {_samire} 1: 1:5
[09:58] {Threei} samire got here:
[09:58] {Threei} go
[09:58] {Threei} http://www.realitytrader.com/tradingroom/
[09:58] {Threei} scroll down to
[09:58] {_samire} thanks
[09:58] {Threei} HOW TRADING ROOM OPERATES
[09:58] {Threei} all explanations are there
[09:59] {nemo} [09:55] {&Threei} 1:1.5
[10:00] {jfjf64} x
[10:00] {Threei} Short Setup: X .80 break
[10:00] {Threei} if stays under .90
[10:01] {Threei} *(US) MAR BUSINESS INVENTORIES: 1.0% V 0.9%E
[10:01] {Threei} invalidated
[10:01] {jfjf64} rince imo
[10:02] {Threei} could be
[10:02] {Threei} let's see if it reestablishes
[10:02] {Threei} nah, got away
[10:02] {Threei} oh well
[10:02] {jfjf64} took it
[10:03] {Threei} aggressive entry around .90 with .95 stop was another way to play it
[10:03] {jfjf64} ty
[10:03] {nemo} surprise surprise another buyout rumor AKAM
[10:03] {jfjf64} stupid money played break long
[10:04] {dino} iphi, irf, tdsc go green
[10:04] {Threei} {Stupid Money} jf, you are so mean...
[10:05] {jfjf64} thought i was being nice
[10:05] {nemo} Vad...change JF's nick
[10:05] {Threei} to what?
[10:05] {jfjf64} oh boy
[10:05] {nemo} {Stupid Money}
[10:07] {jfjf64} pot
[10:07] {jfjf64} bounce
[10:08] {Threei} Short Setup: SLW .15 break
[10:08] {Threei} if stays under .25
[10:08] {Threei} invalidated
[10:09] {dino} hrs sdm l .27
[10:10] {jfjf64} jf luvs pot
[10:10] {RonS} took wlk .76 to 57.10 +.34 thanks dino
[10:10] {dino} panl rocking
[10:12] {dino} wtg ronzo
[10:12] {jfjf64} sorry stupidmoney luvs pot
[10:12] {dino} still in, want $1
[10:12] {dino} say no to drugs jf
[10:13] {jfjf64} lol
[10:14] {Threei} lol
[10:17] {jfjf64} ibm
[10:17] {jfjf64} dtop
[10:17] {jfjf64} watchin
[10:20] {dino} out wlk .49, +.77
[10:21] {jfjf64} nice
[10:21] {jfjf64} rats ibm
[10:21] {dino} ty
[10:21] {Threei} (US) Fed's Bernanke: Regulators are unable to exactly determine which firms are systemically important using a set formula
[10:22] {dino} hig want .96 gap
[10:23] {RonS} the bernank: "that is why i am flying by the seat of my pants"
[10:25] {dino} thats what happens when you prop up failures
[10:26] {dino} the system was not allowed to cleanse itself
[10:26] {Threei} and more risk is taken by those who see that failure carries no risk
[10:27] {Threei} while careful ones are being punished twice,
[10:27] {Threei} by not ripping the reward in case of success, and by paying to bail out failures
[10:27] {Threei} and we wonder why system rots?
[10:27] {dino} ugh wlk
[10:28] {dino} agreed
[10:29] {Threei} Long Setup: X 46 break
[10:30] {Threei} stop under .90
[10:30] {Threei} not a scalp
[10:31] {Threei} (US) Treasury's Dep Sec Wolin: Unclear whether money markets industry can be considered systemically important
[10:31] {Threei} - Comments that a roll back of the Dodd Frank legislation is not an option
[10:31] {RonS} hrs .50 wall
[10:31] {Threei} (EG) IMF: Egypt has officially requested assistance to fund approx $12B shortfall
[10:31] {Threei} 1:1, half out
[10:32] {Threei} stop to .98
[10:32] {Threei} - Notes IMF will discuss Ireland aid at May 16 meeting.
[10:32] {Threei} - Reiterates IMF might extend Greece repayment schedule.
[10:34] {dino} sm l ccih .51
[10:40] {dino} thi sm l .14
[10:46] {Threei} Long Setup: X .75
[10:46] {Threei} if stays above .65
[10:47] {Threei} just a scalp, IMO
[10:49] {Threei} (GR) Dutch Fin Min: Greece must not be allowed to move away from its recovery path and reforms
[10:49] {Threei} - Notes that a 2nd round of aid for Greece would be worse than the assistance it would provide
[10:49] {Threei} "must not be allowed"
[10:50] {Threei} coupled with denmark reestablishing borders... can you feel how whole thing unravels?
[10:50] {dino} greece is in charge, "you give us what we want or fu"
[10:50] {Threei} 1:1
[10:52] {nemo} LVS
[10:53] {dino} ccih stop-.27
[10:56] {Threei} Short Setup: RIMM .75 break
[10:58] {Threei} no go
[10:58] {Threei} first stop
[10:59] {dino} ccih rinsed
[11:28] {dino} .
[11:29] {Threei} EU) ECB's Coene: ECB has clearly indicated that the April interest rate increase was not a one-off event
[11:29] {Threei} - Market expectations for more policy adjustments are not unreasonable.
[11:29] {Threei} - Seeing a flattening of euro zone economic recovery, not a sudden slowdown.
[11:29] {Threei} - Rescheduling Greek debt would not really help the situation and there would be lots of collateral damage.
[11:29] {Threei} - ECB is still working out the details of a plan to help banks addicted to special funding.
[11:30] {RonS} guess the banks are like my wife...
[11:30] {dino} lol
[11:37] {Threei} Ron, you ever going to finish that?? :)
[11:38] {RonS} "addicted to special funding"
[11:39] {Threei} ahhh
[11:39] {Threei} so, it's not a phenomenon limited to my household??
[11:43] {dino} european leaders set to vote tuesday on naked short sale ban on sovereign debt
[11:47] {Threei} stupid is as stupid does
[11:47] {dino} run forest run
[11:55] {dino} stec is dead, thing does not move
[11:56] {RonS} stec a fork in it, eh?
[11:56] {dino} pretty much
[11:57] {Threei} lol
[11:57] {Threei} fewer than half of Americans can name the capital of Canada
[11:58] {RonS} lol...and more than all do not care...
[11:58] {Threei} okay... it's not that bad
[11:58] {Threei} could be worse,
[11:58] {Threei} could be as a salesperson of an online store I spike to once,
[11:58] {Threei} answering question about shipping to Canada he said
[11:58] {Threei} sorry we don't ship overseas
[11:59] {RonS} rotflol
[11:59] {Threei} so... as long as 51% and more realize that we share the continent, I am OK
[11:59] {RonS} seen the Discover "Peggy" commercials 3i?
[11:59] {Threei} no
[12:00] {Threei} what are those?
[12:02] {RonS} my fave so far: http://www.youtube.com/watch?v=aG3aAvQXNJk&feature=relmfu
[12:05] {Threei} lol
[12:05] {dino} big drop
[12:06] {dino} big sm l .51 risky
[12:07] {Threei} I was so tempted to ask big drop in what
[12:07] {dino} wise azz
[12:08] {Threei} but I resisted the temptation
[12:08] {RonS} hey i was thinkin the same thing...only...ya sure...
[12:08] {dino} figures, :)
[12:09] {Threei} we just need to assign who is abbot and who costello
[12:14] {Threei} Seabreeze Partners' Kyle Bass: Greece's restructuring will ultimaltely be felt in other periphery nations like Portugal, Ireland and Spain - CNBC
[12:14] {Threei} Big Lots Inc Hearing weakness related to Dealreporter article cautious on prospects for deal- Reminder: Heard similar reports circulated by Dealreporter in mid April
[12:14] {dino} shocking
[12:15] {Threei} (NV) Netherlands govt discloses discovery of bird flu on a chicken farm; around 9K birds to be culled - financial press
[12:15] {Threei} - Tests continue in order to discover strain of bird flu, should know tomorrow whether the birds in question were infected with a highly pathogenic form of the virus.
[12:15] {Threei} - Farms within a 3 km radius of the discovery will be screened for the virus.
[12:15] {Threei} and farmers within 5 km radius shot?
[12:19] {Threei} and here the chain reaction starts:
[12:19] {Threei} IR) Ireland Min: It is preferable to reschedule IMF and EU debts, still attempting to get long term liquidity for Ireland banks- Claims that interest rate reductions for other countries should also apply to Ireland
[12:21] {dino} these politicians should be required to take econ 101
[12:22] {RonS} just took con 101 instead...
[12:24] {dino} lol
[12:28] {dino} out big .02, +.51
[12:31] {Threei} big move
[12:32] {RonS} big 'un
[12:32] {RonS} said Al Bundy...
[12:33] {Threei} lol
[12:37] {dino} you guys are a regular bevus and butthead combo
[12:38] {dino} kro
[12:39] {Threei} (SY) EU Official: Syrian officials must change their policy towards the ongoing uprising very soon
[12:39] {Threei} {Syrian officials} How soon?
[12:40] {Threei} EU Official: very soon
[12:40] {Threei} Syrian officials: OK then... shoot them all
[12:40] {Threei} EU Official: but then change, got it?
[12:40] {dino} kro sm l .80
[12:41] {RonS} syrian response: ok, policy changed. now keep shooting.
[12:41] {RonS} oops lol
[12:42] {Threei} another one with dial-up
[12:42] {RonS} guess we need to choose...
[12:42] {RonS} who's beevus...who's butthead...
[12:43] {dino} old mtv cartoon, couple joking idiots
[12:43] {Threei} 100,000 women is raped in Democratic republic of congo a year
[12:43] {Threei} that's democracy for you
[12:44] {davd} must be hard to be a prostitute there?
[12:44] {RonS} the US Peace Corps has been covering up years of sexual assaults on female volunteers
[12:44] {dino} ohh, thats bad
[12:46] {davd} typical world view: its all the fault of the american sponsored org.
[12:48] {davd} 1pm 30yr treasur auction
[12:55] {RonS} Even before the first oil company executive testified before the Senate Finance Committee on Thursday, Sen. Sen. Orrin Hatch (R-Utah) criticized the hearing as a dog-and-pony show.
[12:55] {RonS} Lawmakers should not go down the “dangerous road” of punishing American businesses for being profitable, said Hatch, the committee’s ranking member.
[12:56] {RonS} With a photo of a dog riding a pony as a backdrop behind him, Hatch said Thursday’s hearing would only provide “political theater.”
[12:56] {RonS} He noted that contrary to what some people think, the Obama administration does indeed have an energy policy: “Are you ready for this? Their energy policy is to increase the cost of energy,” Hatch said.”
[12:57] {dino} roflol
[12:58] {jfjf64} slw ?
[12:58] {Threei} break...
[12:58] {Threei} dunno
[12:58] {Threei} chart is right
[12:58] {Threei} everything else is wrong
[12:59] {jfjf64} imo short after break
[12:59] {Threei} (US) Senate Minority Leader McConnell: Meeting with Obama on budget went well
[12:59] {Threei} good for them
[12:59] {Threei} oysters were fresh I assume
[13:00] {Threei} - White House press: Republicans and President Obama agreed on need to raise the debt ceiling; Obama called for both sides to give some ground
[13:00] {RonS} deja vu' all over again?
[13:02] {jfjf64} comon slw gimme blow off top
[13:02] {Threei} *(US) TREASURY'S $16B 30-YEAR BOND AUCTION DRAWS 4.38%; BID-TO-COVER RATIO: 2.43 V 2.51 PRIOR AND 2.53 AVG OVER THE LAST 3- 62.12% allotted at the high. - Indirect bidders take 33% of competitive bids
[13:03] {davd} D- re cnbc
[13:05] {jfjf64} s .65
[13:05] {jfjf64} slw
[13:05] {dino} 07 flying all green
[13:06] {jfjf64} using .75
[13:06] {jfjf64} dieeeeeeeeee
[13:07] {RonS} 2 mil es fute seller here
[13:07] {jfjf64} dieeeeeeeeee
[13:08] {jfjf64} 1/1
[13:09] {jfjf64} half
[13:09] {Threei} nice
[13:09] {jfjf64} stop b/e
[13:10] {jfjf64} target .45
[13:12] {dino} gj
[13:13] {jfjf64} scalpers win
[13:13] {jfjf64} lol
[13:25] {RonS} CREE up almost 10% in two days on this: Cree 231 Lumen Per Watt LED Shatters LED Efficacy Records
[13:25] {nemo} efficacy or efficiency?
[13:25] {dino} whatever it takes
[13:33] {Threei} Short Setup: X
[13:33] {Threei} .95 break
[13:33] {Threei} if stays under 46
[13:38] {Threei} let's make it two-sided setup
[13:43] {Threei} out
[13:43] {Threei} why do I bother to come out of coma?
[13:43] {jfjf64} exacktly
[13:44] {nemo} JF learn how to spell
[13:44] {nemo} eqzaktly
[13:45] {jfjf64} lol
[13:46] {jfjf64} x kill ya self
[13:47] {Threei} lol
[13:48] {jfjf64} spy i/hs
[14:15] {nemo} I'm done seeya
[14:15] {dino} cya nemo
[14:15] {Threei} take care nemo
[14:21] {dino} thi to .44 all dayer
[14:25] {dino} out +.29
[14:32] {gregns} SLW break of .40 if holding .50 ? what is your heart saying today?
[14:35] {dino} ggc drop
[14:35] {Threei} 51/49, greg
[14:38] {dino} giddy-up
[14:38] {dino} still buy the dips mode
[14:50] {_samire} Vad....I have a question
[14:51] {davd} yes?
[14:51] {_samire} How many green days you had in the last 30 trading days ? i am still on trial
[14:51] {davd} jpm had no red days last quarter
[14:51] {Threei} I didn't count
[14:52] {Threei} gotta go through the trading log and add them up
[14:52] {Threei} 3-4 I'd guess
[14:52] {_samire} in average
[14:52] {_samire} thanks
[14:52] {dino} 3i is a machine
[14:53] {Threei} and drinks WD-40
[14:54] {dino} i tease you vad, but i mean the machine part w/serious respect
[14:54] {Threei} I know... just kidding :)
[14:55] {Threei} and looking for trading application of the wisdom:
[14:55] {Threei} If it moves and it shouldnt, you need duct tape. If it doesnt move and it should, you need WD-40
[14:59] {dino} pay drop
[14:59] {dino} 5 bucks straight down
[15:00] {RonS} squeeze panl...missed
[15:00] {dino} buyout off, gap fi;;
[15:00] {Threei} greg, you went for SLW?
[15:01] {gregns} i did but then let it go when it went in the high .50's
[15:02] {Threei} I see
[15:02] {RonS} DoJ files suit to stop Verifone's Hypercom deal 05/12 12:58 PM
[15:05] {dino} odd, not buyer, so no cost
[15:06] {RonS} look hyc
[15:07] {dino} that one makes sense to drop, was being bought
[15:08] {dino} playing pay
[15:08] {dino} fast hits
[15:12] {dino} good girl pay
[15:13] {dino} .50 wall
[15:13] {dino} giddyup
[15:15] {dino} out .70, +.70
[15:16] {RonS} gj...too fast for me
[15:16] {dino} ty
[15:16] {dino} out bid .38, +.40
[15:16] {dino} thing wants 46 imo pay
[15:18] {dino} out pay .75, +.75
[15:19] {RonS} ok jumped pay for .28 to .66 on your call dino...thanks
[15:19] {dino} \wtg
[15:19] {dino} thers 46
[15:19] {dino} theres
[15:19] {dino} not sure about another here
[15:20] {dino} would like pullback to 45
[15:21] {dino} bummer, no real pullback
[15:22] {dino} in my best swiper voice, "awwww mannnnnnnnnnnn"
[15:23] {RonS} in my best magoo voice "i coulda been riiiich!"
[15:23] {dino} roflol, i'll tell him this weekend
[15:23] {dino} buck pullback
[15:26] {Threei} dino, tell him it's time to get back
[15:27] {dino} it's complicated
[15:28] {Threei} it always is
[15:28] {dino} yeah, the older i get the more complicated it gets
[15:32] {dino} back in 10 or so
[15:47] {dino} kro strange
[15:52] {dino} out hrs +.01 thing doesn't move
[15:55] {Threei} Ok guys, thank you asll
[15:56] {Threei} have a good evening
[15:56] {Threei} see you tomorrow
[15:56] {larisa} bye :)
[16:01] {dino} partial out medw .88, +.33
[16:01] {dino} thing just hangs on forever, holding for what feels like a year (3 days)
Session Time: Thu May 12 00:00:00 2011
[08:34] {Threei} (US) INITIAL JOBLESS CLAIMS: 434K V 430KE; CONTINUING CLAIMS: 3.756M V 3.70ME
[08:34] {Threei} - Prior Initial Jobless Claims revised higher from 474K to 478K
[08:34] {Threei} - Prior Continuing Claims revised higher from 3.733M to 3.751M
[08:34] {Threei} - 4 week Avg claims: 436.8K v 431.3K prior
[09:10] {Threei} IMF Official: Latin American countries should prepare for potential declines in the price of commodities in the future
[09:11] {Threei} interesting comment
[09:15] {dino} gm all
[09:15] {Threei} dino :)
[09:16] {_toodlepip} morning
[09:16] {Threei} morning toodlepip
[09:17] {Threei} SLW bounce on UUP pullback
[09:21] {RonS} gm all...feel like i am back in the great northwet...second day of steady rain/snow spit at 38 degrees
[09:21] {Threei} Ron :)
[09:22] {larisa} gm :)
[09:22] {Threei} larisa :)
[09:22] {larisa} vad :)
[09:23] {Threei} so far, no clear opening play
[09:23] {dino} ron, that weather was pa all last month
[09:24] {Threei} RIMM daily is still of "short the living daylight out of it" but no clean entry point for now
[09:24] {Threei} keeping that on radar
[09:24] {_samire} gm
[09:25] {Threei} samire :)
[09:26] {_samire} Can I be in charge today.....making all the calls ?
[09:26] {_samire} i do not have charts !!!
[09:26] {_samire} scary
[09:26] {_samire} ando picks
[09:26] {Threei} please do
[09:26] {_samire} random picks
[09:27] {Threei} no different from our favorite dartboard method
[09:27] {_samire} i agrere
[09:27] {_samire} yes
[09:27] {Threei} competing with close second, tea leaves method
[09:27] {_toodlepip} you guys are crazy
[09:28] {Threei} there is however chicken entrails approach which we guard as corporate secret
[09:28] {_toodlepip} you should be using astrology like me
[09:28] {Threei} nah, chicken entrails is much more accurate'
[09:28] {_ebelog} Do you have any beer there while throwing at dart board makes it much more entertaining
[09:28] {Threei} sorry ebelog, folks are expected to bring their own
[09:29] {Threei} OK, SLW
[09:29] {jfjf64} mornin
[09:29] {Threei} not touching it here, rather watching for reversal point,
[09:29] {Threei} short into bounce or long into sharp selloff
[09:29] {Threei} jf :)
[09:31] {Threei} FCX is long candidate, prepare half lot, no entry point yet
[09:32] {Threei} Short Setup: SLW .80 break half lot
[09:32] {Threei} if stays under ,90
[09:32] {Threei} Long Setup: FCX .80 break
[09:33] {Threei} stop under .70
[09:33] {Threei} SLW 1:1
[09:33] {Threei} 1:2
[09:33] {nemo} SLW short, unbelievable, you never see those
[09:33] {jfjf64} ya ya
[09:34] {Threei} lol
[09:34] {Threei} FCX invalidated
[09:34] {jfjf64} how trading room OPERATES
[09:35] {Threei} Long Setup: FCX .70 break
[09:35] {Threei} if stays above .60
[09:35] {Threei} half lot!
[09:35] {Threei} volatility is still way too high
[09:35] {Threei} 1;1
[09:36] {Threei} making some discoveries jf?
[09:36] {nemo} no...busting my balls
[09:36] {jfjf64} ya ya
[09:36] {Threei} out FCX in full
[09:37] {gregns} got both, ty
[09:37] {Threei} RIMM watch for pullback entry
[09:37] {Threei} dfrom under 44
[09:37] {Threei} Long Setup: RIMM 44 break
[09:37] {Threei} stop under .90
[09:37] {Threei} 1;1
[09:37] {Threei} that was fast
[09:37] {Threei} missed personally typing an alert
[09:37] {jfjf64} too fast 4 me
[09:37] {Threei} it's all nemo's fault
[09:37] {Threei} and jf's
[09:38] {nemo} can't blame us, we're here...it's Magoo's fault
[09:38] {RonS} caught fcx for +.17 but sheesh...
[09:38] {jfjf64} keep hunting
[09:38] {jfjf64} 7 min 3 winners
[09:38] {Threei} hey, I can blame whoever I want any time I want, I am in a free speech country
[09:39] {RonS} 7 min 3 heart attacks
[09:39] {Threei} rofl
[09:39] {Threei} sorry Ron
06[09:40] * Threei is mailing Ron defibrillator
[09:40] {RonS} lol i need it...
06[09:40] * Threei adds some diapers to the box
[09:41] {Threei} crap RIMM
[09:41] {Threei} got away
[09:41] {Threei} Long Setup: LVS .75
[09:41] {Threei} if stays above .65
[09:43] {Threei} invalidated
[09:43] {jfjf64} lvs says you left me 4 slw screw ya
[09:44] {Threei} scorned lover eh
[09:44] {Threei} X
[09:44] {Threei} watching for long
[09:46] {Threei} .50 was it... wanted one more leg down
[09:47] {Threei} still do
[09:47] {Threei} what's with CAT
[09:49] {dino} 2375 and 1335 filled
[09:50] {Threei} dino, CAST is about to become your client
[09:50] {Threei} CAT, sorry
[09:50] {dino} 2357, 1312 next gaps
[09:50] {dino} not enough drop 3i for me
[09:50] {_samire} are we in X ?
[09:50] {Threei} no, we missed it
[09:50] {_samire} from .50
[09:51] {_samire} i am paper trading first week
[09:51] {Threei} and I haven't decided whose fault it is yet
[09:51] {dino} wlk sm l ave .72
[09:52] {Threei} Short Setup: RIMM .20 break half lot
[09:52] {Threei} stop above .30
[09:54] {Threei} just a scalp most likely
[09:54] {Threei} maybe 1:1.5
[09:54] {jfjf64} ty room monitor
[09:54] {Threei} 1;1
[09:54] {Threei} 1:1.5
[09:55] {Threei} 1:2
[09:55] {Threei} Ron, how's those diapers, come handy?
[09:55] {RonS} yep
[09:55] {Threei} :)
[09:56] {Threei} just remember, if you attach defibrillator as a permanently working device, your cat might think you've gone mad
[09:56] {dino} wtg today 3i, in the zone
[09:56] {_samire} did u take any off rimm ?
[09:56] {Threei} who?
[09:57] {_samire} rimm short
[09:57] {Threei} why not?
[09:57] {_samire} are u out ?
[09:57] {Threei} it triggered fair and square
[09:57] {Threei} yes
[09:57] {_samire} targrt ?
[09:57] {jfjf64} oh boy
[09:57] {Threei} [09:54] {Threei} just a scalp most likely
[09:57] {Threei} [09:54] {Threei} maybe 1:1.5
[09:57] {_samire} what does this mean
[09:57] {_samire} 1: 1:5
[09:58] {Threei} samire got here:
[09:58] {Threei} go
[09:58] {Threei} http://www.realitytrader.com/tradingroom/
[09:58] {Threei} scroll down to
[09:58] {_samire} thanks
[09:58] {Threei} HOW TRADING ROOM OPERATES
[09:58] {Threei} all explanations are there
[09:59] {nemo} [09:55] {&Threei} 1:1.5
[10:00] {jfjf64} x
[10:00] {Threei} Short Setup: X .80 break
[10:00] {Threei} if stays under .90
[10:01] {Threei} *(US) MAR BUSINESS INVENTORIES: 1.0% V 0.9%E
[10:01] {Threei} invalidated
[10:01] {jfjf64} rince imo
[10:02] {Threei} could be
[10:02] {Threei} let's see if it reestablishes
[10:02] {Threei} nah, got away
[10:02] {Threei} oh well
[10:02] {jfjf64} took it
[10:03] {Threei} aggressive entry around .90 with .95 stop was another way to play it
[10:03] {jfjf64} ty
[10:03] {nemo} surprise surprise another buyout rumor AKAM
[10:03] {jfjf64} stupid money played break long
[10:04] {dino} iphi, irf, tdsc go green
[10:04] {Threei} {Stupid Money} jf, you are so mean...
[10:05] {jfjf64} thought i was being nice
[10:05] {nemo} Vad...change JF's nick
[10:05] {Threei} to what?
[10:05] {jfjf64} oh boy
[10:05] {nemo} {Stupid Money}
[10:07] {jfjf64} pot
[10:07] {jfjf64} bounce
[10:08] {Threei} Short Setup: SLW .15 break
[10:08] {Threei} if stays under .25
[10:08] {Threei} invalidated
[10:09] {dino} hrs sdm l .27
[10:10] {jfjf64} jf luvs pot
[10:10] {RonS} took wlk .76 to 57.10 +.34 thanks dino
[10:10] {dino} panl rocking
[10:12] {dino} wtg ronzo
[10:12] {jfjf64} sorry stupidmoney luvs pot
[10:12] {dino} still in, want $1
[10:12] {dino} say no to drugs jf
[10:13] {jfjf64} lol
[10:14] {Threei} lol
[10:17] {jfjf64} ibm
[10:17] {jfjf64} dtop
[10:17] {jfjf64} watchin
[10:20] {dino} out wlk .49, +.77
[10:21] {jfjf64} nice
[10:21] {jfjf64} rats ibm
[10:21] {dino} ty
[10:21] {Threei} (US) Fed's Bernanke: Regulators are unable to exactly determine which firms are systemically important using a set formula
[10:22] {dino} hig want .96 gap
[10:23] {RonS} the bernank: "that is why i am flying by the seat of my pants"
[10:25] {dino} thats what happens when you prop up failures
[10:26] {dino} the system was not allowed to cleanse itself
[10:26] {Threei} and more risk is taken by those who see that failure carries no risk
[10:27] {Threei} while careful ones are being punished twice,
[10:27] {Threei} by not ripping the reward in case of success, and by paying to bail out failures
[10:27] {Threei} and we wonder why system rots?
[10:27] {dino} ugh wlk
[10:28] {dino} agreed
[10:29] {Threei} Long Setup: X 46 break
[10:30] {Threei} stop under .90
[10:30] {Threei} not a scalp
[10:31] {Threei} (US) Treasury's Dep Sec Wolin: Unclear whether money markets industry can be considered systemically important
[10:31] {Threei} - Comments that a roll back of the Dodd Frank legislation is not an option
[10:31] {RonS} hrs .50 wall
[10:31] {Threei} (EG) IMF: Egypt has officially requested assistance to fund approx $12B shortfall
[10:31] {Threei} 1:1, half out
[10:32] {Threei} stop to .98
[10:32] {Threei} - Notes IMF will discuss Ireland aid at May 16 meeting.
[10:32] {Threei} - Reiterates IMF might extend Greece repayment schedule.
[10:34] {dino} sm l ccih .51
[10:40] {dino} thi sm l .14
[10:46] {Threei} Long Setup: X .75
[10:46] {Threei} if stays above .65
[10:47] {Threei} just a scalp, IMO
[10:49] {Threei} (GR) Dutch Fin Min: Greece must not be allowed to move away from its recovery path and reforms
[10:49] {Threei} - Notes that a 2nd round of aid for Greece would be worse than the assistance it would provide
[10:49] {Threei} "must not be allowed"
[10:50] {Threei} coupled with denmark reestablishing borders... can you feel how whole thing unravels?
[10:50] {dino} greece is in charge, "you give us what we want or fu"
[10:50] {Threei} 1:1
[10:52] {nemo} LVS
[10:53] {dino} ccih stop-.27
[10:56] {Threei} Short Setup: RIMM .75 break
[10:58] {Threei} no go
[10:58] {Threei} first stop
[10:59] {dino} ccih rinsed
[11:28] {dino} .
[11:29] {Threei} EU) ECB's Coene: ECB has clearly indicated that the April interest rate increase was not a one-off event
[11:29] {Threei} - Market expectations for more policy adjustments are not unreasonable.
[11:29] {Threei} - Seeing a flattening of euro zone economic recovery, not a sudden slowdown.
[11:29] {Threei} - Rescheduling Greek debt would not really help the situation and there would be lots of collateral damage.
[11:29] {Threei} - ECB is still working out the details of a plan to help banks addicted to special funding.
[11:30] {RonS} guess the banks are like my wife...
[11:30] {dino} lol
[11:37] {Threei} Ron, you ever going to finish that?? :)
[11:38] {RonS} "addicted to special funding"
[11:39] {Threei} ahhh
[11:39] {Threei} so, it's not a phenomenon limited to my household??
[11:43] {dino} european leaders set to vote tuesday on naked short sale ban on sovereign debt
[11:47] {Threei} stupid is as stupid does
[11:47] {dino} run forest run
[11:55] {dino} stec is dead, thing does not move
[11:56] {RonS} stec a fork in it, eh?
[11:56] {dino} pretty much
[11:57] {Threei} lol
[11:57] {Threei} fewer than half of Americans can name the capital of Canada
[11:58] {RonS} lol...and more than all do not care...
[11:58] {Threei} okay... it's not that bad
[11:58] {Threei} could be worse,
[11:58] {Threei} could be as a salesperson of an online store I spike to once,
[11:58] {Threei} answering question about shipping to Canada he said
[11:58] {Threei} sorry we don't ship overseas
[11:59] {RonS} rotflol
[11:59] {Threei} so... as long as 51% and more realize that we share the continent, I am OK
[11:59] {RonS} seen the Discover "Peggy" commercials 3i?
[11:59] {Threei} no
[12:00] {Threei} what are those?
[12:02] {RonS} my fave so far: http://www.youtube.com/watch?v=aG3aAvQXNJk&feature=relmfu
[12:05] {Threei} lol
[12:05] {dino} big drop
[12:06] {dino} big sm l .51 risky
[12:07] {Threei} I was so tempted to ask big drop in what
[12:07] {dino} wise azz
[12:08] {Threei} but I resisted the temptation
[12:08] {RonS} hey i was thinkin the same thing...only...ya sure...
[12:08] {dino} figures, :)
[12:09] {Threei} we just need to assign who is abbot and who costello
[12:14] {Threei} Seabreeze Partners' Kyle Bass: Greece's restructuring will ultimaltely be felt in other periphery nations like Portugal, Ireland and Spain - CNBC
[12:14] {Threei} Big Lots Inc Hearing weakness related to Dealreporter article cautious on prospects for deal- Reminder: Heard similar reports circulated by Dealreporter in mid April
[12:14] {dino} shocking
[12:15] {Threei} (NV) Netherlands govt discloses discovery of bird flu on a chicken farm; around 9K birds to be culled - financial press
[12:15] {Threei} - Tests continue in order to discover strain of bird flu, should know tomorrow whether the birds in question were infected with a highly pathogenic form of the virus.
[12:15] {Threei} - Farms within a 3 km radius of the discovery will be screened for the virus.
[12:15] {Threei} and farmers within 5 km radius shot?
[12:19] {Threei} and here the chain reaction starts:
[12:19] {Threei} IR) Ireland Min: It is preferable to reschedule IMF and EU debts, still attempting to get long term liquidity for Ireland banks- Claims that interest rate reductions for other countries should also apply to Ireland
[12:21] {dino} these politicians should be required to take econ 101
[12:22] {RonS} just took con 101 instead...
[12:24] {dino} lol
[12:28] {dino} out big .02, +.51
[12:31] {Threei} big move
[12:32] {RonS} big 'un
[12:32] {RonS} said Al Bundy...
[12:33] {Threei} lol
[12:37] {dino} you guys are a regular bevus and butthead combo
[12:38] {dino} kro
[12:39] {Threei} (SY) EU Official: Syrian officials must change their policy towards the ongoing uprising very soon
[12:39] {Threei} {Syrian officials} How soon?
[12:40] {Threei} EU Official: very soon
[12:40] {Threei} Syrian officials: OK then... shoot them all
[12:40] {Threei} EU Official: but then change, got it?
[12:40] {dino} kro sm l .80
[12:41] {RonS} syrian response: ok, policy changed. now keep shooting.
[12:41] {RonS} oops lol
[12:42] {Threei} another one with dial-up
[12:42] {RonS} guess we need to choose...
[12:42] {RonS} who's beevus...who's butthead...
[12:43] {dino} old mtv cartoon, couple joking idiots
[12:43] {Threei} 100,000 women is raped in Democratic republic of congo a year
[12:43] {Threei} that's democracy for you
[12:44] {davd} must be hard to be a prostitute there?
[12:44] {RonS} the US Peace Corps has been covering up years of sexual assaults on female volunteers
[12:44] {dino} ohh, thats bad
[12:46] {davd} typical world view: its all the fault of the american sponsored org.
[12:48] {davd} 1pm 30yr treasur auction
[12:55] {RonS} Even before the first oil company executive testified before the Senate Finance Committee on Thursday, Sen. Sen. Orrin Hatch (R-Utah) criticized the hearing as a dog-and-pony show.
[12:55] {RonS} Lawmakers should not go down the “dangerous road” of punishing American businesses for being profitable, said Hatch, the committee’s ranking member.
[12:56] {RonS} With a photo of a dog riding a pony as a backdrop behind him, Hatch said Thursday’s hearing would only provide “political theater.”
[12:56] {RonS} He noted that contrary to what some people think, the Obama administration does indeed have an energy policy: “Are you ready for this? Their energy policy is to increase the cost of energy,” Hatch said.”
[12:57] {dino} roflol
[12:58] {jfjf64} slw ?
[12:58] {Threei} break...
[12:58] {Threei} dunno
[12:58] {Threei} chart is right
[12:58] {Threei} everything else is wrong
[12:59] {jfjf64} imo short after break
[12:59] {Threei} (US) Senate Minority Leader McConnell: Meeting with Obama on budget went well
[12:59] {Threei} good for them
[12:59] {Threei} oysters were fresh I assume
[13:00] {Threei} - White House press: Republicans and President Obama agreed on need to raise the debt ceiling; Obama called for both sides to give some ground
[13:00] {RonS} deja vu' all over again?
[13:02] {jfjf64} comon slw gimme blow off top
[13:02] {Threei} *(US) TREASURY'S $16B 30-YEAR BOND AUCTION DRAWS 4.38%; BID-TO-COVER RATIO: 2.43 V 2.51 PRIOR AND 2.53 AVG OVER THE LAST 3- 62.12% allotted at the high. - Indirect bidders take 33% of competitive bids
[13:03] {davd} D- re cnbc
[13:05] {jfjf64} s .65
[13:05] {jfjf64} slw
[13:05] {dino} 07 flying all green
[13:06] {jfjf64} using .75
[13:06] {jfjf64} dieeeeeeeeee
[13:07] {RonS} 2 mil es fute seller here
[13:07] {jfjf64} dieeeeeeeeee
[13:08] {jfjf64} 1/1
[13:09] {jfjf64} half
[13:09] {Threei} nice
[13:09] {jfjf64} stop b/e
[13:10] {jfjf64} target .45
[13:12] {dino} gj
[13:13] {jfjf64} scalpers win
[13:13] {jfjf64} lol
[13:25] {RonS} CREE up almost 10% in two days on this: Cree 231 Lumen Per Watt LED Shatters LED Efficacy Records
[13:25] {nemo} efficacy or efficiency?
[13:25] {dino} whatever it takes
[13:33] {Threei} Short Setup: X
[13:33] {Threei} .95 break
[13:33] {Threei} if stays under 46
[13:38] {Threei} let's make it two-sided setup
[13:43] {Threei} out
[13:43] {Threei} why do I bother to come out of coma?
[13:43] {jfjf64} exacktly
[13:44] {nemo} JF learn how to spell
[13:44] {nemo} eqzaktly
[13:45] {jfjf64} lol
[13:46] {jfjf64} x kill ya self
[13:47] {Threei} lol
[13:48] {jfjf64} spy i/hs
[14:15] {nemo} I'm done seeya
[14:15] {dino} cya nemo
[14:15] {Threei} take care nemo
[14:21] {dino} thi to .44 all dayer
[14:25] {dino} out +.29
[14:32] {gregns} SLW break of .40 if holding .50 ? what is your heart saying today?
[14:35] {dino} ggc drop
[14:35] {Threei} 51/49, greg
[14:38] {dino} giddy-up
[14:38] {dino} still buy the dips mode
[14:50] {_samire} Vad....I have a question
[14:51] {davd} yes?
[14:51] {_samire} How many green days you had in the last 30 trading days ? i am still on trial
[14:51] {davd} jpm had no red days last quarter
[14:51] {Threei} I didn't count
[14:52] {Threei} gotta go through the trading log and add them up
[14:52] {Threei} 3-4 I'd guess
[14:52] {_samire} in average
[14:52] {_samire} thanks
[14:52] {dino} 3i is a machine
[14:53] {Threei} and drinks WD-40
[14:54] {dino} i tease you vad, but i mean the machine part w/serious respect
[14:54] {Threei} I know... just kidding :)
[14:55] {Threei} and looking for trading application of the wisdom:
[14:55] {Threei} If it moves and it shouldnt, you need duct tape. If it doesnt move and it should, you need WD-40
[14:59] {dino} pay drop
[14:59] {dino} 5 bucks straight down
[15:00] {RonS} squeeze panl...missed
[15:00] {dino} buyout off, gap fi;;
[15:00] {Threei} greg, you went for SLW?
[15:01] {gregns} i did but then let it go when it went in the high .50's
[15:02] {Threei} I see
[15:02] {RonS} DoJ files suit to stop Verifone's Hypercom deal 05/12 12:58 PM
[15:05] {dino} odd, not buyer, so no cost
[15:06] {RonS} look hyc
[15:07] {dino} that one makes sense to drop, was being bought
[15:08] {dino} playing pay
[15:08] {dino} fast hits
[15:12] {dino} good girl pay
[15:13] {dino} .50 wall
[15:13] {dino} giddyup
[15:15] {dino} out .70, +.70
[15:16] {RonS} gj...too fast for me
[15:16] {dino} ty
[15:16] {dino} out bid .38, +.40
[15:16] {dino} thing wants 46 imo pay
[15:18] {dino} out pay .75, +.75
[15:19] {RonS} ok jumped pay for .28 to .66 on your call dino...thanks
[15:19] {dino} \wtg
[15:19] {dino} thers 46
[15:19] {dino} theres
[15:19] {dino} not sure about another here
[15:20] {dino} would like pullback to 45
[15:21] {dino} bummer, no real pullback
[15:22] {dino} in my best swiper voice, "awwww mannnnnnnnnnnn"
[15:23] {RonS} in my best magoo voice "i coulda been riiiich!"
[15:23] {dino} roflol, i'll tell him this weekend
[15:23] {dino} buck pullback
[15:26] {Threei} dino, tell him it's time to get back
[15:27] {dino} it's complicated
[15:28] {Threei} it always is
[15:28] {dino} yeah, the older i get the more complicated it gets
[15:32] {dino} back in 10 or so
[15:47] {dino} kro strange
[15:52] {dino} out hrs +.01 thing doesn't move
[15:55] {Threei} Ok guys, thank you asll
[15:56] {Threei} have a good evening
[15:56] {Threei} see you tomorrow
[15:56] {larisa} bye :)
[16:01] {dino} partial out medw .88, +.33
[16:01] {dino} thing just hangs on forever, holding for what feels like a year (3 days)
Wednesday, May 11, 2011
May 11 2011
Nicely profitable day with one stop and 4 or 5 winning trades.
Session Time: Wed May 11 00:00:00 2011
[08:56] {dino} gm all
[08:56] {Threei} morning dino
[08:58] {dino} :)
[09:01] {_ebelog} I have a question about position sizing, I am trading with 100k I understand that the fine tuning of the position depends on liquidity of stock and I would guess its beta, but is 10% a good starting trade amount per trade as a general rule, thanks
[09:01] {Threei} it has everything to do with risk control
[09:01] {Threei} general rule is:
[09:02] {Threei} do not lose on any single trade more than 1-2% of your trading capital
[09:02] {Threei} so, knowing your stop sizxe dictated by the chart,
[09:02] {Threei} and using that rule
[09:02] {Threei} you come to your position size.
[09:02] {Threei} To cite an example:
[09:02] {Threei} if your capital is 100K,
[09:03] {Threei} 1% loss on any given trade gives you 1K loss
[09:03] {Threei} stop size as dictated by chart is, say 20 cents
[09:03] {Threei} by looking at the level 2 you see slippage as 5 cents,
[09:04] {Threei} to lose 1K on 25 cents stop, you get your position size as 4K
[09:04] {Threei} Now, that can be a bit too much
[09:04] {Threei} as there is also commissions
[09:05] {Threei} and liquidity with such lot can not be enough for 5 cents slippage
[09:05] {Threei} so cut it some more, especially at the first stages of learning
[09:05] {Threei} when training wheels should be used
[09:06] {Threei} some more on that:
[09:06] {Threei} http://blog.realitytrader.com/2007/04/stops-why-and-how.html
[09:07] {Threei} makes sense?
[09:09] {_ebelog} sure so let me give specific example if bid ask is 5 cent spread that would be a more illiquid stock so I should pare back my exposure?
[09:09] {Threei} absolutely
[09:09] {Threei} 5 cents is nasty spread,
[09:09] {Threei} plus, pay attention to sizes displayed
[09:10] {_ebelog} Would you even trade a spread like that
[09:10] {Threei} sure - with reasonable size
[09:10] {Threei} dino plays stocks with 20-30 cents
[09:10] {_ebelog} ok so if 1000s of shares on bid and ask then?
[09:11] {Threei} that's good size
[09:11] {Threei} but if you see couple 100 shares bids and offers, 5 cents spread,
[09:11] {Threei} a few cents gap between levels,
[09:11] {Threei} that's illiquid stock, your slippage is likely to be bigger
[09:12] {Threei} so, no way to play 4-5K shares
[09:12] {Threei} even 1K can be too much if you want to keep stop tight
[09:13] {_ebelog} I am trading with IB and they offer many different etns to trade via per stock vs just using their smart system which I guess aggregates them, is it better to use their routing system or look at each etn separately
[09:13] {Threei} I never traded wwith them
[09:13] {Threei} no idea how effective heir smart routing is
[09:13] {nemo} they charge you more I believe when you don't use their routing system
[09:14] {_samire} gm all
[09:15] {Threei} morning samire
[09:15] {_samire} it was green day 4 me yesterday (For a change)
[09:15] {Threei} good to hear
[09:16] {Threei} especially if our room had anything to do with that
[09:16] {nemo} probably got him started on painkillers
[09:17] {_ebelog} Ok so SLW for example is 38.70 now I would trade 600 sh if I had a 15 cent stop on 100k, does this make sense?
[09:18] {nemo} why is your stop at .15?
[09:18] {nemo} next support I see is .20 below
[09:18] {_ebelog} sorry I mean a .15 loss sorry
[09:18] {Threei} 600 x .15 gives you a loss of 90 bucks
[09:19] {_ebelog} I mean 6000 sh
[09:19] {Threei} 900 then
[09:19] {Threei} a bit too much for SLW liquidity
[09:19] {Threei} especially at the open when volatility is too big
[09:19] {Threei} and certainly way too much if you are a beginner
[09:20] {Threei} I would say: 600 is a good training size,
[09:20] {_ebelog} So if you set stop at 38.60 and break at 38.75 just as an example if chart was lining up that way, oh ok so i would cut that in half
[09:20] {_ebelog} oh ok I got it
[09:20] {nemo} ask me about trading too many shares when the losses start piling up...also, you'll be surprised at the fills you don't get
[09:20] {Threei} move it to 1000 when you feel more confident,
[09:20] {Threei} then increase as you become proficient
[09:21] {Threei} whole procedure of initial size and increasing it as learning progresses is described in MPP
[09:25] {ese} morning
[09:25] {dino} =samire, wtg
[09:25] {Threei} ese :)
[09:29] {Threei} SLW doesn't even wait for the market to open
[09:29] {jfjf64} morning
[09:30] {Threei} EUR/USD Euro weakness attributed to US think tank report circulating on periphery concerns
[09:30] {Threei} jf :)
[09:30] {Threei} Short Setup: RIMM .10 break half lot
[09:31] {Threei} double-sided setup
[09:31] {Threei} .20 upper side
[09:31] {Threei} half lot either way
[09:32] {nemo} ROVI
[09:33] {jfjf64} ty rimm
[09:33] {Threei} :)
[09:33] {jfjf64} you half in
[09:33] {Threei} no, too fast drop
[09:33] {Threei} but same setup is valid again
[09:34] {jfjf64} took .07
[09:34] {Threei} short side only for now
[09:35] {Threei} stop to .16
[09:35] {Threei} holding too well
[09:35] {jfjf64} fcx hammer drop
[09:35] {Threei} ugh, missed SLW bounce
[09:35] {Threei} reversed too fast for a call
[09:37] {ese} ok thats 2stocks that i didn't have enough of dinos nerve to do ..IL and NRGY.....was onto both couldn't pull the trigger
[09:37] {Threei} 1:1 again
[09:37] {Threei} stop to .11 if partialing
[09:38] {jfjf64} slw
[09:38] {jfjf64} nother leg down
[09:38] {jfjf64} imo
[09:38] {Threei} SLW becomes bounce candidate
[09:39] {jfjf64} what i know
[09:40] {Threei} didn't give clean entry
[09:40] {Threei} stll waiting for a good play on it
[09:40] {Threei} meanwhile nibbling on RIMM as a breakfast
[09:40] {dino} panl sm l .00 break, pulp type
[09:41] {Threei} ebelog, see dino's type of play on PANL as example of low liquidity
[09:41] {Threei} RIMM 1:3
[09:41] {Threei} me out
[09:41] {nemo} actually, panl is high for him
[09:41] {dino} don't follow me eb
[09:42] {Threei} US) Senator Schumer (D-NY): Concerned that markets may react in July if Congress does not provide clear signs that it intends to raise the debt limit
[09:42] {Threei} - REMINDER from 5/2: Treasury Sec Geithner: Debt ceiling to be reached on May 16 as forecast, now feels can use more 'special measures' to push back limit to Aug 2 vs July 8 prior
[09:42] {Threei} idiots are playing with fire
[09:44] {nemo} they just want to keep expanding debt level forever
[09:45] {Threei} Long Setup: FCX 50 break
[09:46] {dino} il
[09:46] {nemo} that was fast
[09:46] {Threei} 1:1...
[09:46] {jfjf64} very
[09:46] {Threei} wanted aggressive entry near .90 and hesitated a bit
[09:47] {Threei} OK
[09:47] {nemo} yeah, I didn't get in
[09:47] {Threei} second chance
[09:47] {ese} am watching it dino
[09:47] {nemo} hit 1:1
[09:47] {Threei} stop under .90
[09:47] {jfjf64} in
[09:47] {dino} out panl .81, +.81
[09:47] {Threei} target is .25
[09:47] {Threei} two partials
[09:49] {Threei} change of plans
[09:49] {Threei} target .35
[09:49] {dino} tough crowd
[09:49] {Threei} three partials
[09:49] {Threei} sorry dino, caught up in a fast tarde :0
[09:49] {Threei} first partial out
[09:49] {Threei} .13
[09:49] {dino} :D
[09:49] {Threei} stop to .95
[09:50] {Threei} offer second part above .20
[09:51] {ese} what made you go back to that one dino
[09:51] {ese} nice one by the way
[09:51] {Threei} second part out
[09:51] {Threei} stop to .99
[09:51] {Threei} offer third part between .30 and .35
06[09:52] * Threei slaps jfjf64 around a bit with a large roll of cash
[09:53] {jfjf64} ty
[09:53] {ese} nice jf
[09:53] {Threei} stop to .09
[09:54] {jfjf64} 3i call
[09:55] {jfjf64} scanner finds fcx
[09:55] {jfjf64} 3i cofirms
[09:55] {jfjf64} lol
[09:55] {ese} gotta pull that trigger
[09:55] {Threei} SLW
[09:55] {Threei} this p;ullback seems to be our play finally
[09:56] {ese} tougher than most people think
[09:56] {jfjf64} yes
[09:56] {dino} panl drop
[09:56] {Threei} Long Setup: SLW .70 break
[09:56] {Threei} if stays above .60
[09:57] {dino} ty ese, always keep yesterdays movers for a dayt or two on screen
[09:57] {dino} wlk drop
[09:57] {dino} gap 58.83 area
[09:58] {ese} wondered about that...so do i
[09:58] {Threei} no go
[09:59] {jfjf64} lvs some momo
[09:59] {dino} would like to see retest of lod panl
[10:00] {dino} bid lod
[10:05] {jfjf64} lvs pullbk
[10:06] {Threei} feels like market prepares for cascading lower
[10:07] {Threei} Short Setup: X .10 break
[10:07] {dino} same feeling
[10:07] {Threei} if stays under .20 for scalpers, .25 day traders
[10:08] {Threei} when .10 getting hit try to grab last shares
[10:08] {Threei} can drop very fast aftre actual break
[10:08] {Threei} Short Setup: SLW .50 break
[10:10] {dino} darn partials bid l .75
[10:11] {Threei} X not a scalp to me
[10:11] {Threei} partialing
[10:11] {Threei} 1;1
[10:11] {Threei} OK... let's tank now, market
[10:12] {Threei} stop to .15, X
[10:12] {Threei} ugh, missed partial on SLW
[10:12] {dino} wlk sm l .00
[10:13] {Threei} stop to .55 SLW
[10:15] {Threei} out SLW
[10:16] {Threei} botched execution on this trade
[10:16] {jfjf64} ditto
[10:16] {jfjf64} jf blame x
[10:17] {Threei} X, scalpers win
[10:17] {jfjf64} dittnt pull trigger
[10:17] {jfjf64} either
[10:17] {dino} panl lod app
[10:18] {dino} wlk gap fill, should've waited
[10:18] {dino} gut says up we go
[10:19] {Threei} yeah, market held after breakdown
[10:19] {Threei} no strong downward momentum anymore
[10:19] {Threei} although things are muddied by the dollar
[10:20] {Threei} all these ups and downs are strongly correlated with it
[10:21] {dino} wlk stop -.33
[10:22] {dino} bid to .19
[10:23] {dino} stop .18 slip, +.43
[10:24] {jfjf64} gj
[10:26] {Threei} SLW... I don't like you today
[10:28] {dino} ty
[10:28] {dino} 07 all red
[10:28] {dino} il lod
[10:28] {dino} carefull, still red
[10:28] {dino} unusual
[10:28] {dino} panl coming into yesterdays lod
[10:28] {dino} smr l il .00
[10:29] {ese} L il .08
[10:29] {dino} out il .40, +.40
[10:31] {Threei} *DOE CRUDE: +3.8M V +1ME; GASOLINE: +1.3M V -500KE; DISTILLATE: -840K V +500KE; UTILIZATION: 81.7% V 83.2%E
[10:32] {dino} riding it es?
[10:33] {Threei} Short Setup: X 46 break
[10:33] {dino} ese getting like ron, making more on my calls than i do
[10:33] {Threei} hehe
[10:33] {ese} good enough out IL .62
[10:33] {Threei} good job guys
[10:33] {dino} wtg
[10:33] {ese} tks
[10:33] {dino} pulp type
[10:33] {ese} was thinking 1/2 and 1/2 but good enough
[10:34] {dino} dropped hard
[10:34] {ese} +.54
[10:34] {Threei} condition is obvious on X
[10:34] {ese} ya
[10:34] {jfjf64} nice
[10:34] {jfjf64} ese
[10:34] {ese} tks
[10:34] {Threei} UUP break of high should kill X
[10:35] {ese} had been following it since opening and almost missed it.....just barely caught dinos call
[10:36] {dino} i do what i do
[10:36] {dino} waiting here a bit, feels ugly
[10:37] {nemo} X holding well on this downdraft
[10:37] {dino} watching il, bid, panl
[10:40] {jfjf64} de gettin hit
[10:41] {dino} panl sm l .25 stop .99
[10:42] {dino} wtf, stopped fast drop
[10:43] {jfjf64} look c
[10:43] {jfjf64} 43.00
[10:43] {jfjf64} lol
[10:44] {Threei} reverse split
[10:44] {jfjf64} yeah reading
[10:44] {Threei} 1: I can't count that far
[10:45] {jfjf64} lvs d/top
[10:45] {jfjf64} ?
[10:46] {Threei} can't tell
[10:46] {jfjf64} or forming c/h
[10:46] {jfjf64} higher
[10:48] {_samire} slw basing
[10:50] {davd} raj guilty
[10:51] {ese} L alj .05
[10:51] {Threei} Yahoo! Inc Ticks lower on reports that Alibaba has changed structure of ownership in its Alipay online payment service
[10:51] {Threei} - Forbes reports "Yahoo disclosed in an SEC filing yesterday that Alibaba Group, in which it holds a 43% stake, has transferred ownership of online payments company Alipay to a new company controlled by Alibaba CEO Jack Ma."
[10:52] {Threei} SLW is getting royal whooping
[10:52] {ese} stop .80
[10:53] {RonS} ese...hearing alj has refinery in flood area...
[10:55] {dino} partial l wlk .25
[10:56] {ese} tks ron.........
[10:56] {ese} price action tells me it's goin up for a few minutes
[10:57] {ese} may 5 earnings were good
[10:58] {dino} bid sm l .97
[10:58] {ese} out alj .26 +.21
[10:58] {dino} gj
[11:00] {ese} tks
[11:02] {RonS} lol...people saying raj had prior knowledge of the verdict
[11:03] {dino} whats verdict
[11:04] {RonS} 08:50 davd raj guilty
[11:04] {davd} please take me off ignore :O
[11:05] {ese} lol
[11:05] {nemo} send a check davd and I'll think about it
[11:08] {gregns} SLW break of 35 if stays above .85 ?
[11:09] {Threei} I think so
[11:09] {gregns} ty
[11:17] {dino} tdsc break .40 l
[11:23] {Threei} things stalled
[11:26] {dino} dj reporting gasoline usage at 9 year low
[11:32] {nemo} I drove one of the main commuter corridors in the boston area yesterday at afternoon rush hour...clear sailing
[11:32] {dino} stec lod
[11:33] {dino} sweet
[11:34] {ese} and stec had a reasonable Q
[11:34] {Threei} greg... I'd partiasl out here
[11:34] {dino} lowered q2
[11:34] {Threei} if not just take profit
[11:35] {gregns} ty, already did
[11:35] {ese} ya......not by much but it only takes a little these days to get brutalized
[11:35] {dino} yeah. bloody earnings
[11:50] {_samire} Threei.....do you have a lifetime membership ?
[11:50] {Threei} hmmm
[11:50] {nemo} to the room Vad
[11:51] {Threei} mine is...
[11:51] {nemo} pretty good samire
[11:51] {Threei} lol
[11:51] {_samire} yes
[11:51] {Threei} there are two options
[11:51] {Threei} http://www.realitytrader.com/tradingroom/order.html
[11:52] {Threei} lifetime would be about half million I think, but you'd have to gamble on my personal life expectation
[11:52] {nemo} there's a conditional trigger also samire called the "nemo" membership
[11:52] {davd} he drinks alot of vodka and eats a lot of donuts
[11:52] {ese} IL...nice move
[11:52] {Threei} 'cause if bus hits me tomorrow, good luck getting your money back from local transport agency
[11:52] {nemo} once you reach that pain in the ass level you have to pay more
[11:53] {Threei} they never refunded anyone for unused bus ticket
[11:53] {_samire} i have a life time member ship to ...
[11:53] {nemo} Vad always drank
[11:53] {nemo} but since I've been here
[11:53] {nemo} his liver can't get through a metal detector
[11:53] {_samire} but it is not great
[11:53] {_samire} i will trade it with you
[11:53] {Threei} well... doesn't it tell you everything you need to know about such memberships? :)
[11:54] {_samire} yes
[11:54] {_samire} i will give this and take yours
[11:55] {Threei} how much do they charge for lifetime?
[11:55] {_samire} i will e-mail u password
[11:55] {_samire} $ 999
[11:55] {Threei} why do I need their membership, lol
[11:55] {_samire} so u can give me yours
[11:55] {Threei} ummm...
[11:55] {Threei} how do I put it softly
[11:55] {_samire} look at home page....very fancy
[11:56] {Threei} I don't trade what I have for what I don't need
[11:56] {Threei} soft enough? :)
[11:56] {_samire} dollar bills every where
[11:56] {nemo} GFY
[11:56] {Threei} yup... fancy :)
[11:56] {_samire} buy the picture
[11:57] {_samire} it is hard to sell u some thing
[11:57] {Threei} why... it's very easy
[11:57] {Threei} offer me something I need
[11:57] {Threei} bam, sold
[11:57] {RonS} sucked me in to looking at gfy nemo...
[11:57] {Threei} rofl
[12:00] {_samire} do you normally take most of your trades in the first 2 hours ?
[12:00] {Threei} well, market activity is concentrated in this time frame lately
[12:01] {Threei} but when things change, so do we
[12:01] {_samire} good answer
[12:04] {RonS} oil looking to crack below 100
[12:05] {RonS} now 99.75
[12:11] {RonS} cme halted oil trading
[12:11] {Threei} gorever I hope
[12:11] {Threei} forever
[12:11] {Threei} oh... 5 mi only
[12:11] {RonS} 5 min halt now over
[12:11] {dino} someone blowing up
[12:12] {RonS} oil dropping 99.56
[12:12] {davd} someone not blowing up
[12:14] {dino} one lost 400 m on oil last week
[12:16] {Threei} too bad just one
[12:18] {Threei} panic
[12:18] {RonS} huge es fute buyers showing up
[12:18] {Threei} I don't see singnificant news for this... other than Portugal bailout is getting more or less appreoved in Germany and Finland
[12:19] {davd} dollar at 10 day high
[12:19] {davd} es?
[12:19] {RonS} moniker for spx futes
[12:22] {davd} buyers meaning going long
[12:22] {davd} ?
[12:23] {davd} i want to know what you mean please?:/
[12:23] {dino} buyers showing big bids
[12:23] {davd} ty
[12:23] {RonS} service i use tracks algo activity...when huge buyers or sellers show it it almost always indicates the end of the move
[12:24] {RonS} ...but sometimes they get overwhelm...it is a 90% er
[12:24] {RonS} sorry...show up...
[12:24] {davd} aha thanks rons
[12:25] {davd} 1pm is 10yr treasury auction
[12:25] {RonS} in this case 1.2 mil contracts...
[12:29] {RonS} 720k buyer in the nq as well
[12:33] {RonS} dcc dave
[12:38] {dino} irf sm l .65
[12:40] {davd} thanks ron. looks like big move was signalled for now
[12:44] {jfjf64} cvx .40 break
[12:44] {jfjf64} ??
[12:44] {RonS} always remember...i report what i deem significant...i am not predicting per se. we should all know nothing is for certain in the market. especially when the guvmint chooses to jerk it around.
[12:44] {Threei} .50 I'd orefer jf
[12:44] {RonS} dcc dave
[12:45] {Threei} semiagressive
[12:45] {davd} that cool... i use "imo"
[12:47] {RonS} that message was for the new people dave...don't want to lead anyone down the wrong path...:)
[12:47] {Threei} why??
[12:47] {Threei} come on Ron
[12:47] {Threei} not only 9 out of 10 who take the stand want that,
[12:48] {Threei} people who listen to them want to be led that path themselves
[12:48] {davd} i'm usually outdone by the dartboard approach :(
[12:48] {Threei} that's because you resist it, davd...
[12:48] {jfjf64} cvx
[12:48] {Threei} 1:1, jf
[12:49] {jfjf64} ty
[12:49] {Threei} beauty of aggressive entry
[12:49] {jfjf64} ty jf
[12:49] {jfjf64} lol
[12:49] {Threei} lol
[12:49] {jfjf64} look daily
[12:49] {RonS} oil went to 100.25 and fell 98.75 in 5 min
[12:50] {jfjf64} ohh baby
[12:50] {Threei} (EU) EU's Rehn: Reiterates Greece continues to live beyond its means; concerned about recent national debate trajectories
[12:50] {RonS} debate trajectory?...new one for me...
[12:52] {Threei} euphemism for "uh oh, whole things falls apart"
[12:55] {davd} possible one of those rally when europe closes days?
[12:56] {Threei} well, Europe closes but comments continue
[12:56] {Threei} and these days it's mostly about what is said over there
[12:56] {Threei} every yapping mouse from across the pond sends market up and down
[12:57] {Threei} you done with CVX jf?
[12:57] {Threei} nicely hit .25 for you
[12:57] {RonS} europe closed at 11:30 edt i think...
[12:57] {ese} gotta go all...cya friday......will not make it tomorrow....have a real late show tonight
[12:57] {RonS} cya ese
[12:57] {Threei} havce fun ese
[12:57] {ese} ron vad
[12:58] {dino} cya ese
[12:58] {Threei} lol
[12:58] {Threei} dino, you might just as well send a snail mail letter
[13:02] {Threei} 3 feds are speaking art the same time
[13:02] {Threei} and auction
[13:02] {dino} guess so
[13:03] {RonS} O not joining party?
[13:04] {Threei} not that I am aware of
[13:07] {RonS} nemo...any opinons of ery v. sco?
[13:11] {davd} i use dto - most liquid and options
[13:15] {Threei} up or down from here?
[13:16] {Threei} who has a feel?
[13:16] {gregns} up
[13:16] {Threei} down for me... but I am firmly in "short everything" camp lately :0
[13:17] {davd} close up near vwap of 134.8 - imo
[13:17] {Threei} if market starts downticking, I'd watch SCO for long
[13:35] {RonS} holy smokes...36 outside w/ rain/hail falling...
[13:36] {dino} gaps 2375, 1335
[13:36] {Threei} UUP new high
[13:36] {Threei} SPY new low
[13:36] {Threei} greg... I win
[13:36] {gregns} sure enough and sco did go
[13:38] {gregns} SLW did not hit new low,, bounce ready soon, a scalp ?
[13:39] {Threei} probably... my heart is so not into long SLW though...
[13:46] {dino} panl sm l .67
[14:11] {dino} stopped
[14:24] {Threei} was my heart about SLW or what
[14:24] {gregns} yup
[14:25] {RonS} oil to 97.60
[14:26] {Threei} UUP continues higher of course, pushing them all down
[14:27] {Threei} http://www.realitytrader.com/tradingroom/, bottom of the page now contains description of the room format
[14:28] {dino} tdsc amazes me, beats, raises, declares 2/1 split and drops 20
[14:28] {Threei} no more excuse for trialers to ask what calls mean
[14:29] {nemo} think you should warn them about me?
[14:29] {Threei} no, I want some suprizzes to exist
[14:29] {nemo} ahhh
[14:37] {gregns} that's a big surprise though, maybe rethink that one ??
[14:38] {Threei} true greg, and don't think I took this lightly... but, aren't we entitled to have our fun? And agree, observing unprepared one meeting nemo for the first time IS fun
[14:39] {Threei} just remember how many fainted
[14:40] {gregns} i am concerned now about your idea of fun?
[14:40] {davd} vwap 134.7 nemo?
[14:41] {nemo} just about
[14:42] {Threei} well... and this is when I am sober
[14:42] {nemo} davd, that was in answer to you
[14:42] {nemo} ahhhh...Vad
[14:42] {davd} uso thus far bounced off its 200 dma
[14:42] {nemo} when is that?
[14:43] {Threei} there... don't have to wait too long for the comeback, eh? :)
[14:43] {davd} oh, i thought you had a different vwap for when you are drunk
[14:43] {Threei} rofl
[14:43] {Threei} good one davd
[14:50] {dino} vtus drop
[14:55] {Threei} Long Setup: SLW 34 break
[14:55] {Threei} and don't think it's easy for me to type that
[14:56] {nemo} you meant short, right?
[14:57] {Threei} nope...
[14:57] {_samire} no
[14:57] {Threei} UUP is pulling back some
[14:57] {nemo} samire...wtf
[14:57] {Threei} took .91 aggressive
[14:57] {nemo} nice vad
[14:57] {Threei} stop .84
[14:57] {nemo} btu
[14:57] {Threei} not much risk
[14:57] {nemo} sorry
[14:58] {Threei} gotta give it a chance
[15:00] {_samire} nemo......you know wf ???
[15:00] {_samire} water fall
[15:00] {nemo} cute
[15:00] {_samire} have you listened to GSP before ?
[15:01] {nemo} what is GSP?
[15:01] {_samire} great stock pix
[15:01] {_samire} he plays water fall
[15:02] {nemo} oh, on the website? that's cool
[15:05] {_samire} did Vad took SLW ?
[15:06] {Threei} 14:57] {Threei} took .91 aggressive
[15:06] {Threei} [14:57] {Threei} stop .84
[15:06] {_samire} ok...thanx
[15:08] {nemo} LVS
[15:08] {Threei} half out
[15:09] {Threei} beauty of aggressive entries
[15:09] {dino} gj
[15:10] {Threei} ty
[15:10] {Threei} stop to .89
[15:25] {davd} vwap 134.67
[15:25] {Threei} sober version?
[15:25] {davd} buzzed version, i needed a shot after watching silver
[15:26] {Threei} right
[15:26] {_samire} Vad....you are very bad (Good)
[15:27] {Threei} I don't mind
[15:28] {_samire} You take the right trades
[15:29] {Threei} that's what I do...
[15:30] {dino} cnc spike
[15:31] {dino} 4 bucks
[15:31] {Threei} camceled conference appearance
[15:31] {Threei} ok SLW, it's tme
[15:31] {davd} gold almost filling the gap
[15:52] {dino} rally into close?
[15:52] {Threei} rally... hardly... :0
[15:52] {Threei} meek bounce
[15:52] {nemo} not much more
[15:54] {dino} tell me how you really feel, lol
[15:56] {Threei} OK guys
[15:56] {Threei} thank you all
[15:56] {Threei} have a good evening, see you tomorrow
Session Time: Wed May 11 00:00:00 2011
[08:56] {dino} gm all
[08:56] {Threei} morning dino
[08:58] {dino} :)
[09:01] {_ebelog} I have a question about position sizing, I am trading with 100k I understand that the fine tuning of the position depends on liquidity of stock and I would guess its beta, but is 10% a good starting trade amount per trade as a general rule, thanks
[09:01] {Threei} it has everything to do with risk control
[09:01] {Threei} general rule is:
[09:02] {Threei} do not lose on any single trade more than 1-2% of your trading capital
[09:02] {Threei} so, knowing your stop sizxe dictated by the chart,
[09:02] {Threei} and using that rule
[09:02] {Threei} you come to your position size.
[09:02] {Threei} To cite an example:
[09:02] {Threei} if your capital is 100K,
[09:03] {Threei} 1% loss on any given trade gives you 1K loss
[09:03] {Threei} stop size as dictated by chart is, say 20 cents
[09:03] {Threei} by looking at the level 2 you see slippage as 5 cents,
[09:04] {Threei} to lose 1K on 25 cents stop, you get your position size as 4K
[09:04] {Threei} Now, that can be a bit too much
[09:04] {Threei} as there is also commissions
[09:05] {Threei} and liquidity with such lot can not be enough for 5 cents slippage
[09:05] {Threei} so cut it some more, especially at the first stages of learning
[09:05] {Threei} when training wheels should be used
[09:06] {Threei} some more on that:
[09:06] {Threei} http://blog.realitytrader.com/2007/04/stops-why-and-how.html
[09:07] {Threei} makes sense?
[09:09] {_ebelog} sure so let me give specific example if bid ask is 5 cent spread that would be a more illiquid stock so I should pare back my exposure?
[09:09] {Threei} absolutely
[09:09] {Threei} 5 cents is nasty spread,
[09:09] {Threei} plus, pay attention to sizes displayed
[09:10] {_ebelog} Would you even trade a spread like that
[09:10] {Threei} sure - with reasonable size
[09:10] {Threei} dino plays stocks with 20-30 cents
[09:10] {_ebelog} ok so if 1000s of shares on bid and ask then?
[09:11] {Threei} that's good size
[09:11] {Threei} but if you see couple 100 shares bids and offers, 5 cents spread,
[09:11] {Threei} a few cents gap between levels,
[09:11] {Threei} that's illiquid stock, your slippage is likely to be bigger
[09:12] {Threei} so, no way to play 4-5K shares
[09:12] {Threei} even 1K can be too much if you want to keep stop tight
[09:13] {_ebelog} I am trading with IB and they offer many different etns to trade via per stock vs just using their smart system which I guess aggregates them, is it better to use their routing system or look at each etn separately
[09:13] {Threei} I never traded wwith them
[09:13] {Threei} no idea how effective heir smart routing is
[09:13] {nemo} they charge you more I believe when you don't use their routing system
[09:14] {_samire} gm all
[09:15] {Threei} morning samire
[09:15] {_samire} it was green day 4 me yesterday (For a change)
[09:15] {Threei} good to hear
[09:16] {Threei} especially if our room had anything to do with that
[09:16] {nemo} probably got him started on painkillers
[09:17] {_ebelog} Ok so SLW for example is 38.70 now I would trade 600 sh if I had a 15 cent stop on 100k, does this make sense?
[09:18] {nemo} why is your stop at .15?
[09:18] {nemo} next support I see is .20 below
[09:18] {_ebelog} sorry I mean a .15 loss sorry
[09:18] {Threei} 600 x .15 gives you a loss of 90 bucks
[09:19] {_ebelog} I mean 6000 sh
[09:19] {Threei} 900 then
[09:19] {Threei} a bit too much for SLW liquidity
[09:19] {Threei} especially at the open when volatility is too big
[09:19] {Threei} and certainly way too much if you are a beginner
[09:20] {Threei} I would say: 600 is a good training size,
[09:20] {_ebelog} So if you set stop at 38.60 and break at 38.75 just as an example if chart was lining up that way, oh ok so i would cut that in half
[09:20] {_ebelog} oh ok I got it
[09:20] {nemo} ask me about trading too many shares when the losses start piling up...also, you'll be surprised at the fills you don't get
[09:20] {Threei} move it to 1000 when you feel more confident,
[09:20] {Threei} then increase as you become proficient
[09:21] {Threei} whole procedure of initial size and increasing it as learning progresses is described in MPP
[09:25] {ese} morning
[09:25] {dino} =samire, wtg
[09:25] {Threei} ese :)
[09:29] {Threei} SLW doesn't even wait for the market to open
[09:29] {jfjf64} morning
[09:30] {Threei} EUR/USD Euro weakness attributed to US think tank report circulating on periphery concerns
[09:30] {Threei} jf :)
[09:30] {Threei} Short Setup: RIMM .10 break half lot
[09:31] {Threei} double-sided setup
[09:31] {Threei} .20 upper side
[09:31] {Threei} half lot either way
[09:32] {nemo} ROVI
[09:33] {jfjf64} ty rimm
[09:33] {Threei} :)
[09:33] {jfjf64} you half in
[09:33] {Threei} no, too fast drop
[09:33] {Threei} but same setup is valid again
[09:34] {jfjf64} took .07
[09:34] {Threei} short side only for now
[09:35] {Threei} stop to .16
[09:35] {Threei} holding too well
[09:35] {jfjf64} fcx hammer drop
[09:35] {Threei} ugh, missed SLW bounce
[09:35] {Threei} reversed too fast for a call
[09:37] {ese} ok thats 2stocks that i didn't have enough of dinos nerve to do ..IL and NRGY.....was onto both couldn't pull the trigger
[09:37] {Threei} 1:1 again
[09:37] {Threei} stop to .11 if partialing
[09:38] {jfjf64} slw
[09:38] {jfjf64} nother leg down
[09:38] {jfjf64} imo
[09:38] {Threei} SLW becomes bounce candidate
[09:39] {jfjf64} what i know
[09:40] {Threei} didn't give clean entry
[09:40] {Threei} stll waiting for a good play on it
[09:40] {Threei} meanwhile nibbling on RIMM as a breakfast
[09:40] {dino} panl sm l .00 break, pulp type
[09:41] {Threei} ebelog, see dino's type of play on PANL as example of low liquidity
[09:41] {Threei} RIMM 1:3
[09:41] {Threei} me out
[09:41] {nemo} actually, panl is high for him
[09:41] {dino} don't follow me eb
[09:42] {Threei} US) Senator Schumer (D-NY): Concerned that markets may react in July if Congress does not provide clear signs that it intends to raise the debt limit
[09:42] {Threei} - REMINDER from 5/2: Treasury Sec Geithner: Debt ceiling to be reached on May 16 as forecast, now feels can use more 'special measures' to push back limit to Aug 2 vs July 8 prior
[09:42] {Threei} idiots are playing with fire
[09:44] {nemo} they just want to keep expanding debt level forever
[09:45] {Threei} Long Setup: FCX 50 break
[09:46] {dino} il
[09:46] {nemo} that was fast
[09:46] {Threei} 1:1...
[09:46] {jfjf64} very
[09:46] {Threei} wanted aggressive entry near .90 and hesitated a bit
[09:47] {Threei} OK
[09:47] {nemo} yeah, I didn't get in
[09:47] {Threei} second chance
[09:47] {ese} am watching it dino
[09:47] {nemo} hit 1:1
[09:47] {Threei} stop under .90
[09:47] {jfjf64} in
[09:47] {dino} out panl .81, +.81
[09:47] {Threei} target is .25
[09:47] {Threei} two partials
[09:49] {Threei} change of plans
[09:49] {Threei} target .35
[09:49] {dino} tough crowd
[09:49] {Threei} three partials
[09:49] {Threei} sorry dino, caught up in a fast tarde :0
[09:49] {Threei} first partial out
[09:49] {Threei} .13
[09:49] {dino} :D
[09:49] {Threei} stop to .95
[09:50] {Threei} offer second part above .20
[09:51] {ese} what made you go back to that one dino
[09:51] {ese} nice one by the way
[09:51] {Threei} second part out
[09:51] {Threei} stop to .99
[09:51] {Threei} offer third part between .30 and .35
06[09:52] * Threei slaps jfjf64 around a bit with a large roll of cash
[09:53] {jfjf64} ty
[09:53] {ese} nice jf
[09:53] {Threei} stop to .09
[09:54] {jfjf64} 3i call
[09:55] {jfjf64} scanner finds fcx
[09:55] {jfjf64} 3i cofirms
[09:55] {jfjf64} lol
[09:55] {ese} gotta pull that trigger
[09:55] {Threei} SLW
[09:55] {Threei} this p;ullback seems to be our play finally
[09:56] {ese} tougher than most people think
[09:56] {jfjf64} yes
[09:56] {dino} panl drop
[09:56] {Threei} Long Setup: SLW .70 break
[09:56] {Threei} if stays above .60
[09:57] {dino} ty ese, always keep yesterdays movers for a dayt or two on screen
[09:57] {dino} wlk drop
[09:57] {dino} gap 58.83 area
[09:58] {ese} wondered about that...so do i
[09:58] {Threei} no go
[09:59] {jfjf64} lvs some momo
[09:59] {dino} would like to see retest of lod panl
[10:00] {dino} bid lod
[10:05] {jfjf64} lvs pullbk
[10:06] {Threei} feels like market prepares for cascading lower
[10:07] {Threei} Short Setup: X .10 break
[10:07] {dino} same feeling
[10:07] {Threei} if stays under .20 for scalpers, .25 day traders
[10:08] {Threei} when .10 getting hit try to grab last shares
[10:08] {Threei} can drop very fast aftre actual break
[10:08] {Threei} Short Setup: SLW .50 break
[10:10] {dino} darn partials bid l .75
[10:11] {Threei} X not a scalp to me
[10:11] {Threei} partialing
[10:11] {Threei} 1;1
[10:11] {Threei} OK... let's tank now, market
[10:12] {Threei} stop to .15, X
[10:12] {Threei} ugh, missed partial on SLW
[10:12] {dino} wlk sm l .00
[10:13] {Threei} stop to .55 SLW
[10:15] {Threei} out SLW
[10:16] {Threei} botched execution on this trade
[10:16] {jfjf64} ditto
[10:16] {jfjf64} jf blame x
[10:17] {Threei} X, scalpers win
[10:17] {jfjf64} dittnt pull trigger
[10:17] {jfjf64} either
[10:17] {dino} panl lod app
[10:18] {dino} wlk gap fill, should've waited
[10:18] {dino} gut says up we go
[10:19] {Threei} yeah, market held after breakdown
[10:19] {Threei} no strong downward momentum anymore
[10:19] {Threei} although things are muddied by the dollar
[10:20] {Threei} all these ups and downs are strongly correlated with it
[10:21] {dino} wlk stop -.33
[10:22] {dino} bid to .19
[10:23] {dino} stop .18 slip, +.43
[10:24] {jfjf64} gj
[10:26] {Threei} SLW... I don't like you today
[10:28] {dino} ty
[10:28] {dino} 07 all red
[10:28] {dino} il lod
[10:28] {dino} carefull, still red
[10:28] {dino} unusual
[10:28] {dino} panl coming into yesterdays lod
[10:28] {dino} smr l il .00
[10:29] {ese} L il .08
[10:29] {dino} out il .40, +.40
[10:31] {Threei} *DOE CRUDE: +3.8M V +1ME; GASOLINE: +1.3M V -500KE; DISTILLATE: -840K V +500KE; UTILIZATION: 81.7% V 83.2%E
[10:32] {dino} riding it es?
[10:33] {Threei} Short Setup: X 46 break
[10:33] {dino} ese getting like ron, making more on my calls than i do
[10:33] {Threei} hehe
[10:33] {ese} good enough out IL .62
[10:33] {Threei} good job guys
[10:33] {dino} wtg
[10:33] {ese} tks
[10:33] {dino} pulp type
[10:33] {ese} was thinking 1/2 and 1/2 but good enough
[10:34] {dino} dropped hard
[10:34] {ese} +.54
[10:34] {Threei} condition is obvious on X
[10:34] {ese} ya
[10:34] {jfjf64} nice
[10:34] {jfjf64} ese
[10:34] {ese} tks
[10:34] {Threei} UUP break of high should kill X
[10:35] {ese} had been following it since opening and almost missed it.....just barely caught dinos call
[10:36] {dino} i do what i do
[10:36] {dino} waiting here a bit, feels ugly
[10:37] {nemo} X holding well on this downdraft
[10:37] {dino} watching il, bid, panl
[10:40] {jfjf64} de gettin hit
[10:41] {dino} panl sm l .25 stop .99
[10:42] {dino} wtf, stopped fast drop
[10:43] {jfjf64} look c
[10:43] {jfjf64} 43.00
[10:43] {jfjf64} lol
[10:44] {Threei} reverse split
[10:44] {jfjf64} yeah reading
[10:44] {Threei} 1: I can't count that far
[10:45] {jfjf64} lvs d/top
[10:45] {jfjf64} ?
[10:46] {Threei} can't tell
[10:46] {jfjf64} or forming c/h
[10:46] {jfjf64} higher
[10:48] {_samire} slw basing
[10:50] {davd} raj guilty
[10:51] {ese} L alj .05
[10:51] {Threei} Yahoo! Inc Ticks lower on reports that Alibaba has changed structure of ownership in its Alipay online payment service
[10:51] {Threei} - Forbes reports "Yahoo disclosed in an SEC filing yesterday that Alibaba Group, in which it holds a 43% stake, has transferred ownership of online payments company Alipay to a new company controlled by Alibaba CEO Jack Ma."
[10:52] {Threei} SLW is getting royal whooping
[10:52] {ese} stop .80
[10:53] {RonS} ese...hearing alj has refinery in flood area...
[10:55] {dino} partial l wlk .25
[10:56] {ese} tks ron.........
[10:56] {ese} price action tells me it's goin up for a few minutes
[10:57] {ese} may 5 earnings were good
[10:58] {dino} bid sm l .97
[10:58] {ese} out alj .26 +.21
[10:58] {dino} gj
[11:00] {ese} tks
[11:02] {RonS} lol...people saying raj had prior knowledge of the verdict
[11:03] {dino} whats verdict
[11:04] {RonS} 08:50 davd raj guilty
[11:04] {davd} please take me off ignore :O
[11:05] {ese} lol
[11:05] {nemo} send a check davd and I'll think about it
[11:08] {gregns} SLW break of 35 if stays above .85 ?
[11:09] {Threei} I think so
[11:09] {gregns} ty
[11:17] {dino} tdsc break .40 l
[11:23] {Threei} things stalled
[11:26] {dino} dj reporting gasoline usage at 9 year low
[11:32] {nemo} I drove one of the main commuter corridors in the boston area yesterday at afternoon rush hour...clear sailing
[11:32] {dino} stec lod
[11:33] {dino} sweet
[11:34] {ese} and stec had a reasonable Q
[11:34] {Threei} greg... I'd partiasl out here
[11:34] {dino} lowered q2
[11:34] {Threei} if not just take profit
[11:35] {gregns} ty, already did
[11:35] {ese} ya......not by much but it only takes a little these days to get brutalized
[11:35] {dino} yeah. bloody earnings
[11:50] {_samire} Threei.....do you have a lifetime membership ?
[11:50] {Threei} hmmm
[11:50] {nemo} to the room Vad
[11:51] {Threei} mine is...
[11:51] {nemo} pretty good samire
[11:51] {Threei} lol
[11:51] {_samire} yes
[11:51] {Threei} there are two options
[11:51] {Threei} http://www.realitytrader.com/tradingroom/order.html
[11:52] {Threei} lifetime would be about half million I think, but you'd have to gamble on my personal life expectation
[11:52] {nemo} there's a conditional trigger also samire called the "nemo" membership
[11:52] {davd} he drinks alot of vodka and eats a lot of donuts
[11:52] {ese} IL...nice move
[11:52] {Threei} 'cause if bus hits me tomorrow, good luck getting your money back from local transport agency
[11:52] {nemo} once you reach that pain in the ass level you have to pay more
[11:53] {Threei} they never refunded anyone for unused bus ticket
[11:53] {_samire} i have a life time member ship to ...
[11:53] {nemo} Vad always drank
[11:53] {nemo} but since I've been here
[11:53] {nemo} his liver can't get through a metal detector
[11:53] {_samire} but it is not great
[11:53] {_samire} i will trade it with you
[11:53] {Threei} well... doesn't it tell you everything you need to know about such memberships? :)
[11:54] {_samire} yes
[11:54] {_samire} i will give this and take yours
[11:55] {Threei} how much do they charge for lifetime?
[11:55] {_samire} i will e-mail u password
[11:55] {_samire} $ 999
[11:55] {Threei} why do I need their membership, lol
[11:55] {_samire} so u can give me yours
[11:55] {Threei} ummm...
[11:55] {Threei} how do I put it softly
[11:55] {_samire} look at home page....very fancy
[11:56] {Threei} I don't trade what I have for what I don't need
[11:56] {Threei} soft enough? :)
[11:56] {_samire} dollar bills every where
[11:56] {nemo} GFY
[11:56] {Threei} yup... fancy :)
[11:56] {_samire} buy the picture
[11:57] {_samire} it is hard to sell u some thing
[11:57] {Threei} why... it's very easy
[11:57] {Threei} offer me something I need
[11:57] {Threei} bam, sold
[11:57] {RonS} sucked me in to looking at gfy nemo...
[11:57] {Threei} rofl
[12:00] {_samire} do you normally take most of your trades in the first 2 hours ?
[12:00] {Threei} well, market activity is concentrated in this time frame lately
[12:01] {Threei} but when things change, so do we
[12:01] {_samire} good answer
[12:04] {RonS} oil looking to crack below 100
[12:05] {RonS} now 99.75
[12:11] {RonS} cme halted oil trading
[12:11] {Threei} gorever I hope
[12:11] {Threei} forever
[12:11] {Threei} oh... 5 mi only
[12:11] {RonS} 5 min halt now over
[12:11] {dino} someone blowing up
[12:12] {RonS} oil dropping 99.56
[12:12] {davd} someone not blowing up
[12:14] {dino} one lost 400 m on oil last week
[12:16] {Threei} too bad just one
[12:18] {Threei} panic
[12:18] {RonS} huge es fute buyers showing up
[12:18] {Threei} I don't see singnificant news for this... other than Portugal bailout is getting more or less appreoved in Germany and Finland
[12:19] {davd} dollar at 10 day high
[12:19] {davd} es?
[12:19] {RonS} moniker for spx futes
[12:22] {davd} buyers meaning going long
[12:22] {davd} ?
[12:23] {davd} i want to know what you mean please?:/
[12:23] {dino} buyers showing big bids
[12:23] {davd} ty
[12:23] {RonS} service i use tracks algo activity...when huge buyers or sellers show it it almost always indicates the end of the move
[12:24] {RonS} ...but sometimes they get overwhelm...it is a 90% er
[12:24] {RonS} sorry...show up...
[12:24] {davd} aha thanks rons
[12:25] {davd} 1pm is 10yr treasury auction
[12:25] {RonS} in this case 1.2 mil contracts...
[12:29] {RonS} 720k buyer in the nq as well
[12:33] {RonS} dcc dave
[12:38] {dino} irf sm l .65
[12:40] {davd} thanks ron. looks like big move was signalled for now
[12:44] {jfjf64} cvx .40 break
[12:44] {jfjf64} ??
[12:44] {RonS} always remember...i report what i deem significant...i am not predicting per se. we should all know nothing is for certain in the market. especially when the guvmint chooses to jerk it around.
[12:44] {Threei} .50 I'd orefer jf
[12:44] {RonS} dcc dave
[12:45] {Threei} semiagressive
[12:45] {davd} that cool... i use "imo"
[12:47] {RonS} that message was for the new people dave...don't want to lead anyone down the wrong path...:)
[12:47] {Threei} why??
[12:47] {Threei} come on Ron
[12:47] {Threei} not only 9 out of 10 who take the stand want that,
[12:48] {Threei} people who listen to them want to be led that path themselves
[12:48] {davd} i'm usually outdone by the dartboard approach :(
[12:48] {Threei} that's because you resist it, davd...
[12:48] {jfjf64} cvx
[12:48] {Threei} 1:1, jf
[12:49] {jfjf64} ty
[12:49] {Threei} beauty of aggressive entry
[12:49] {jfjf64} ty jf
[12:49] {jfjf64} lol
[12:49] {Threei} lol
[12:49] {jfjf64} look daily
[12:49] {RonS} oil went to 100.25 and fell 98.75 in 5 min
[12:50] {jfjf64} ohh baby
[12:50] {Threei} (EU) EU's Rehn: Reiterates Greece continues to live beyond its means; concerned about recent national debate trajectories
[12:50] {RonS} debate trajectory?...new one for me...
[12:52] {Threei} euphemism for "uh oh, whole things falls apart"
[12:55] {davd} possible one of those rally when europe closes days?
[12:56] {Threei} well, Europe closes but comments continue
[12:56] {Threei} and these days it's mostly about what is said over there
[12:56] {Threei} every yapping mouse from across the pond sends market up and down
[12:57] {Threei} you done with CVX jf?
[12:57] {Threei} nicely hit .25 for you
[12:57] {RonS} europe closed at 11:30 edt i think...
[12:57] {ese} gotta go all...cya friday......will not make it tomorrow....have a real late show tonight
[12:57] {RonS} cya ese
[12:57] {Threei} havce fun ese
[12:57] {ese} ron vad
[12:58] {dino} cya ese
[12:58] {Threei} lol
[12:58] {Threei} dino, you might just as well send a snail mail letter
[13:02] {Threei} 3 feds are speaking art the same time
[13:02] {Threei} and auction
[13:02] {dino} guess so
[13:03] {RonS} O not joining party?
[13:04] {Threei} not that I am aware of
[13:07] {RonS} nemo...any opinons of ery v. sco?
[13:11] {davd} i use dto - most liquid and options
[13:15] {Threei} up or down from here?
[13:16] {Threei} who has a feel?
[13:16] {gregns} up
[13:16] {Threei} down for me... but I am firmly in "short everything" camp lately :0
[13:17] {davd} close up near vwap of 134.8 - imo
[13:17] {Threei} if market starts downticking, I'd watch SCO for long
[13:35] {RonS} holy smokes...36 outside w/ rain/hail falling...
[13:36] {dino} gaps 2375, 1335
[13:36] {Threei} UUP new high
[13:36] {Threei} SPY new low
[13:36] {Threei} greg... I win
[13:36] {gregns} sure enough and sco did go
[13:38] {gregns} SLW did not hit new low,, bounce ready soon, a scalp ?
[13:39] {Threei} probably... my heart is so not into long SLW though...
[13:46] {dino} panl sm l .67
[14:11] {dino} stopped
[14:24] {Threei} was my heart about SLW or what
[14:24] {gregns} yup
[14:25] {RonS} oil to 97.60
[14:26] {Threei} UUP continues higher of course, pushing them all down
[14:27] {Threei} http://www.realitytrader.com/tradingroom/, bottom of the page now contains description of the room format
[14:28] {dino} tdsc amazes me, beats, raises, declares 2/1 split and drops 20
[14:28] {Threei} no more excuse for trialers to ask what calls mean
[14:29] {nemo} think you should warn them about me?
[14:29] {Threei} no, I want some suprizzes to exist
[14:29] {nemo} ahhh
[14:37] {gregns} that's a big surprise though, maybe rethink that one ??
[14:38] {Threei} true greg, and don't think I took this lightly... but, aren't we entitled to have our fun? And agree, observing unprepared one meeting nemo for the first time IS fun
[14:39] {Threei} just remember how many fainted
[14:40] {gregns} i am concerned now about your idea of fun?
[14:40] {davd} vwap 134.7 nemo?
[14:41] {nemo} just about
[14:42] {Threei} well... and this is when I am sober
[14:42] {nemo} davd, that was in answer to you
[14:42] {nemo} ahhhh...Vad
[14:42] {davd} uso thus far bounced off its 200 dma
[14:42] {nemo} when is that?
[14:43] {Threei} there... don't have to wait too long for the comeback, eh? :)
[14:43] {davd} oh, i thought you had a different vwap for when you are drunk
[14:43] {Threei} rofl
[14:43] {Threei} good one davd
[14:50] {dino} vtus drop
[14:55] {Threei} Long Setup: SLW 34 break
[14:55] {Threei} and don't think it's easy for me to type that
[14:56] {nemo} you meant short, right?
[14:57] {Threei} nope...
[14:57] {_samire} no
[14:57] {Threei} UUP is pulling back some
[14:57] {nemo} samire...wtf
[14:57] {Threei} took .91 aggressive
[14:57] {nemo} nice vad
[14:57] {Threei} stop .84
[14:57] {nemo} btu
[14:57] {Threei} not much risk
[14:57] {nemo} sorry
[14:58] {Threei} gotta give it a chance
[15:00] {_samire} nemo......you know wf ???
[15:00] {_samire} water fall
[15:00] {nemo} cute
[15:00] {_samire} have you listened to GSP before ?
[15:01] {nemo} what is GSP?
[15:01] {_samire} great stock pix
[15:01] {_samire} he plays water fall
[15:02] {nemo} oh, on the website? that's cool
[15:05] {_samire} did Vad took SLW ?
[15:06] {Threei} 14:57] {Threei} took .91 aggressive
[15:06] {Threei} [14:57] {Threei} stop .84
[15:06] {_samire} ok...thanx
[15:08] {nemo} LVS
[15:08] {Threei} half out
[15:09] {Threei} beauty of aggressive entries
[15:09] {dino} gj
[15:10] {Threei} ty
[15:10] {Threei} stop to .89
[15:25] {davd} vwap 134.67
[15:25] {Threei} sober version?
[15:25] {davd} buzzed version, i needed a shot after watching silver
[15:26] {Threei} right
[15:26] {_samire} Vad....you are very bad (Good)
[15:27] {Threei} I don't mind
[15:28] {_samire} You take the right trades
[15:29] {Threei} that's what I do...
[15:30] {dino} cnc spike
[15:31] {dino} 4 bucks
[15:31] {Threei} camceled conference appearance
[15:31] {Threei} ok SLW, it's tme
[15:31] {davd} gold almost filling the gap
[15:52] {dino} rally into close?
[15:52] {Threei} rally... hardly... :0
[15:52] {Threei} meek bounce
[15:52] {nemo} not much more
[15:54] {dino} tell me how you really feel, lol
[15:56] {Threei} OK guys
[15:56] {Threei} thank you all
[15:56] {Threei} have a good evening, see you tomorrow
[15:57] {larisa} bye :)
[15:57] {dino} cya 3i
Tuesday, May 10, 2011
May 10 2011
Boring low volume day. Greenish, as most of them lately
Session Time: Tue May 10 00:00:00 2011
[08:30] {Threei} *(US) APR IMPORT PRICE INDEX M/M: 2.2% V 1.8%E; Y/Y: 11.1% V 10.4%E
[08:30] {Threei} thank you ben
[08:58] {dino} gm all
[08:58] {Threei} dino :)
[09:07] {ese} mornin all.....can spend a little bit of time on the board today.......thank goodness....you all are like a drug...was on withdrawl
[09:08] {RonS} gm all...so where is the investigation?...crack spreads are north of $35 above 5 yr high
[09:08] {Threei} ese, ron :)
[09:10] {Threei} major news of the day:
[09:10] {ese} ?
[09:10] {Threei} 1. MSFT buys Skype
[09:10] {Threei} 2. Arnold and wife separate
[09:10] {ese} ya...just reading that
[09:10] {ese} ouuuuuu
[09:12] {_samire} gm
[09:12] {larisa} gm :)
[09:12] {ese} can't find the ticker symbol for skype...anyone know
[09:13] {Threei} samire, larisa :)
[09:13] {Threei} not public
[09:13] {ese} hmmm didn't know that
[09:14] {dino} ebay
[09:14] {Threei} yeah, belonged to Ebay
[09:14] {Threei} who needs some relaxation before trading day: http://photography.realitytrader.com/2011/05/tulip-mania-2.html
[09:15] {Threei} RIMM is red again
[09:16] {ese} vad....theres a house right here on Beach Drive kitty corner to Willows Beach park with a zillion tullips planted around the house......about a block from my place
[09:17] {Threei} yeah, I thought of buying that
[09:17] {Threei} until I heard the price
[09:18] {ese} is that house up for sale...the one with the tulips
[09:18] {Threei} nah... just kidding
[09:20] {Threei} watching RIMM for short
[09:21] {dino} brfs gap filling
[09:23] {RonS} ...sorry...can't help it...methinks barf always fills the gap...
[09:25] {dino} lol
[09:26] {_samire} i held some slw overnight...should i sell at open ????any opinion ?
[09:26] {dino} y
[09:26] {dino} as livermoore would say; "when you get lucky, take it"
[09:26] {_samire} ok
[09:27] {Threei} you held for a gap?
[09:27] {Threei} you've got it
[09:27] {dino} just my opinion samire, vad is the teacher here
[09:27] {_samire} where should be my stop ?
[09:27] {Threei} no one knows what happens next, and SLW is famous for selling off at the open 9 times out of 10
[09:27] {nemo} SLW, short on open
[09:28] {RonS} ...i always thought that was a guy at a bar dino...
[09:29] {dino} lol, took me a minute
[09:30] {Threei} Short Setup: RIMM .90 break half lot
[09:30] {Threei} if stays under 45
[09:30] {Threei} ummm
[09:30] {nemo} oh well
[09:31] {Threei} good luck getting a fill
[09:31] {Threei} lol
[09:31] {Threei} let's see if second chance comes along
[09:31] {jfjf64} mornin
[09:31] {Threei} jf :)
[09:31] {Threei} Short Setup: SLW .30 break
[09:32] {Threei} stop .45
[09:32] {Threei} bid half under .20
[09:32] {Threei} 1:1
[09:33] {Threei} scalpers take profit
[09:33] {Threei} stop to .35 for the balance
[09:33] {nemo} bmti dino
[09:34] {dino} cancer concerns bone graft stuff
[09:34] {Threei} stop to .31 SLW
[09:35] {dino} itmn
[09:35] {Threei} 1:2
[09:35] {Threei} 1/4 out more
[09:35] {dino} big seller 16%
[09:35] {Threei} stop to .21
[09:36] {Threei} that's SLW in the morning for you, samire
[09:36] {_samire} Thanks DINO ...sold slw at open
[09:36] {Threei} happens almost every single time
[09:36] {Threei} 1:3
[09:36] {Threei} out in full
[09:36] {_samire} Thanks Threeifor the short
[09:36] {Threei} +.44
[09:36] {Threei} welcome
[09:36] {dino} :)
[09:36] {_samire} Good job
[09:36] {jfjf64} nice ty
[09:37] {Threei} jf, here is what you'll have to do to repay for this:
[09:37] {dino} bid
[09:37] {Threei} go and look at photos at http://photography.realitytrader.com/2011/05/tulip-mania-2.html
[09:37] {Threei} frikin RIMM never gave us another chance
[09:37] {jfjf64} no prob
[09:38] {Threei} I was hoping for "no, anything but that"... what is the fun if you don't suffer
[09:38] {_samire} i saw the beatiful flowers
[09:38] {Threei} ty
[09:38] {_samire} from link
[09:39] {Threei} RIMM, I am crying
[09:39] {Threei} but still... no mmarket orders
[09:39] {Threei} remember what happened yesterday with SLW long
[09:40] {Threei} OK, let's try RIMM bounce
[09:40] {Threei} half lot, .50 trigger
[09:40] {jfjf64} hello
[09:41] {jfjf64} kicked off
[09:41] {Threei} feel free to exit RIMM here, just a scalp
[09:42] {Threei} too weak to stick around for long
[09:43] {jfjf64} got kicked off
[09:43] {RonS} got .53 to .66 thanks 3i
[09:43] {Threei} :)
[09:44] {dino} bid lod
[09:44] {jfjf64} aapl
[09:45] {jfjf64} gettin hit
[09:46] {Threei} (US) Preview: IBD/TIPP Economic Optimism index due out at 10:00ET**Consensus expectation: 41.8e v 40.8 prior
[09:47] {dino} bid sm l .40
[09:47] {Threei} (GR) France Fin Min Lagarde: Pledges to continue EU rescue of Greece
[09:49] {Threei} Short Setup: USO .40 break
[09:50] {Threei} stop .45 for scalpers, .51 day traders
[09:51] {Threei} scalpers take profit, day traders half out
[09:51] {RonS} got sco for .15 on that call...thanks 3i
[09:51] {Threei} :)
[09:51] {Threei} stop to .41
[09:52] {RonS} and thanks nemo for pointing it out since i cannot short uso
[09:52] {nemo} NP
[09:52] {dino} usna
[09:52] {ese} L mnta .52
[09:52] {_samire} what is the opposite of USO ...if i need to go long..example slw and zsl are opposites
[09:52] {Threei} good idea, just remember that SCO is less liquid and requires less shares
[09:53] {RonS} ya, did half lot
[09:53] {ese} out mnta .65 +.13
[09:53] {Threei} (GR) German Gov;t: Expects Greece to fulfill its terms of the rescue package; Not discussing a restructuring of its debt
[09:54] {Threei} SCO, samire
[09:54] {Threei} UltraShort DJ-UBS Crude Oil
[09:54] {_samire} thanks
[09:54] {dino} bid stop -.21
[09:56] {jfjf64} rimm.34
[09:56] {jfjf64} short
[09:56] {Threei} looks right to me jf
[09:57] {dino} rinses
[09:57] {Threei} numbers in 4 min
[09:57] {jfjf64} cant get out of own way
[09:57] {jfjf64} lots green not moving
[09:58] {jfjf64} dbi
[09:58] {dino} panl
[09:58] {Threei} Short Setup: RIMM .35 break
[09:58] {Threei} if stays under .45
[09:58] {Threei} let's make it official :)
[09:59] {jfjf64} after this ill lk pictures
[09:59] {Threei} lol
[09:59] {Threei} hope numbers don't spoil the play
[10:00] {nemo} too fast
[10:00] {nemo} rimm is dead man walking
[10:00] {Threei} *(US) MAY IBD/TIPP ECONOMIC OPTIMISM: 42.8V 41.8E
[10:00] {jfjf64} or help
[10:02] {jfjf64} die ya dog
[10:02] {Threei} stop to .41, IMO
[10:03] {jfjf64} yes make it official
[10:03] {Threei} after all it touched 1:1 before bouncing
[10:03] {Threei} thing is beautifully weak
[10:03] {Threei} 1:1 again
[10:03] {Threei} half out
[10:03] {Threei} (GR) Greece Apr YTD Cash Balance: -6.8B
[10:05] {ese} s sina sm .16
[10:05] {ese} cover sina.,94
[10:05] {ese} dam that went quick+.22
[10:06] {jfjf64} out
[10:07] {jfjf64} left .40
[10:08] {dino} panl sm l .65, stop .29
[10:09] {Threei} Short Setup: X .10 break
[10:09] {Threei} if stays under .20
[10:10] {Threei} not a scalp
[10:13] {Threei} still valid
[10:13] {ese} L med .33
[10:14] {Threei} invalidated
[10:15] {ese} out med .48
[10:15] {Threei} nice
[10:15] {ese} +.15
[10:15] {ese} tks
[10:15] {ese} said this before when you don't trade for a few days....feels strange
[10:16] {ese} almost like you don't trust yourself
[10:16] {Threei} yes... alcoholics too say first two hours feel very weird
[10:16] {RonS} took x l at .14 w/ .10 stop on your call 3i, out .26 thanks
[10:16] {ese} lol
[10:16] {Threei} gj ron
[10:16] {Threei} creative
[10:17] {Threei} old russian joke ese... "doc demanded that I quit drinking... so I did... not drinking one hour, two..."
[10:20] {Threei} SLW
[10:21] {Threei} Short Setup: SLW .60 break
[10:21] {Threei} .66 stop
[10:22] {Threei} no go
[10:23] {ese} just saw that vad.......very funny
[10:29] {_samire} soory but took ZSL long
[10:29] {_samire} sorry
[10:29] {_samire} break of 5s
[10:29] {dino} out panl .45, +.80
[10:30] {_samire} but was your idea Threei
[10:30] {ese} eeeeyeowwwwwzaaaa....nice one dino
[10:30] {_samire} opposite of
[10:30] {dino} ty
[10:30] {_samire} slw
[10:30] {_samire} i can not short
[10:31] {jfjf64} what broker
[10:33] {Threei} SLW rinse
[10:38] {ese} holi dino.....beat yesterday raised quidance....
[10:38] {dino} panl sm l .51
[10:39] {dino} ty, i'll check
[10:39] {nemo} RIMM
[10:39] {ese} been meaning to ask you.....do you adjust your 10% rule based on the price of the stock?
[10:39] {ese} 10% is different for different levels
[10:40] {dino} not sure what 10% you mean
[10:40] {dino} top 10 gainers/losers in %, price no matter
[10:41] {ese} maybe i've got it wrong but you wait for say a 10% drop before you consider buying....something like that don't you
[10:41] {ese} as long as the news is good
[10:41] {ese} ahhhhhh ok
[10:42] {dino} i like 10% but even 5% i look at. it was top 10 percentage gainers and loser scan
[10:42] {nemo} rimm
[10:42] {ese} hmmmmm ok
[10:43] {dino} paml stop -.35
[10:43] {dino} panl
[10:45] {dino} f'ng panl rinse
[10:45] {dino} holi sm l .39
[10:46] {_samire} when did this room started ?
[10:46] {dino} ten years?
[10:46] {dino} been here 4 or so myself
[10:47] {Threei} 2000
[10:47] {_samire} it is my second day and i love it.......but how come few people in the room ?????
[10:47] {Threei} that's easy one
[10:47] {dino} get alot who try to change us and they quit
[10:48] {Threei} people come in numbers to the rooms that promise insane riches with no work
[10:48] {Threei} we promise reasonable profits achieved as a result of hard work
[10:48] {dino} good point 3i, we are more base hits than home runs
[10:48] {Threei} we deliver on promise, they don't - but it's a lure of promise that attracts masses
[10:48] {_samire} make sense......i love your tight stops
[10:49] {Threei} think of it this way: is majority right in trading?
[10:49] {jfjf64} so true
[10:49] {Threei} if not, then the majority coming to other rooms tells you all you need to know
[10:50] {dino} -samire, consider this room an income room, not get rich quick
[10:50] {Threei} exactly
[10:50] {_samire} yes
[10:50] {dino} we grind out a living daily
[10:51] {Threei} and people come to trading with dream of becming millionares in a matter of months
[10:51] {jfjf64} and we pick and choose who we want in room
[10:51] {jfjf64} right nemo
[10:51] {Threei} so we are not of interest to them
[10:51] {dino} still trying to figure out who allows jf in, lol
[10:51] {Threei} "what? I'll have to study something?"
[10:52] {RonS} jeez...holi was trading .38...put order in .02 higher and only got a partial fill...just noticed
[10:52] {Threei} had a guy recently who observed room for a week, then said:
[10:52] {nemo} right JF...my insulting nature chase off many
[10:53] {Threei} what's the deal with courseas, books, studying... there is aroom, you make calls I follow them, I make money. I don't have to study anything, you just make calls
[10:53] {nemo} yeah, right
[10:53] {Threei} I didn't even bother explaining why that won't work
[10:54] {Threei} lazy and stupid is no way to go through life, right? {G}
[10:54] {dino} here you go ron
[10:54] {nemo} fat, lazy and stupid...but I've made it somehow so far
[10:54] {Threei} me too
[10:54] {Threei} but hey, exceptions only confirm the rule
[10:54] {RonS} ya, some bastid showed up w/ 8k at .42
[10:55] {dino} ese most likely
[10:55] {Threei} after all, Pluto made it to planet status, even though temporary, being small, not too bright and gassy
[10:55] {ese} ha ha.....ha ha....
[10:56] {dino} panl smr l .11
[10:56] {RonS} panl = epitome of pulp
[10:56] {dino} smr=3
[10:56] {dino} "pulp moves baby"
[10:57] {RonS} termite quote?
[10:57] {dino} itmn lod
[10:58] {dino} costanzza, sienfeld
[10:59] {ese} that was funny.......
[10:59] {dino} 37.15 itmn gap mar
[11:00] {nemo} BSX dino
[11:01] {dino} ceo retires
[11:02] {dino} sm l .98 bsx
[11:03] {dino} itmn gap fill
[11:03] {dino} gut says 35 magnet
[11:03] {Threei} Long Setup: X .50 break
[11:03] {Threei} if stays above .40
[11:11] {Threei} Short Setup: FCX .60 break
[11:11] {Threei} if stays under .70
[11:17] {_samire} we are in FCX.....please confirm
[11:18] {davd} i am
[11:18] {_samire} ok
[11:18] {Threei} it triggered
[11:18] {Threei} why wouldn't we
[11:18] {nemo} I'm not
[11:18] {Threei} you be cryin'
[11:18] {davd} davd slaps nemo with team player handbook
[11:18] {nemo} probably
[11:18] {Threei} we be profitin'
[11:19] {Threei} scalp or partiaal, your choice
[11:19] {Threei} I have no preference
[11:19] {Threei} 1;1
[11:19] {nemo} davd...I have a habit of catching Vad's stops, so when I don't enter, it's usually confirmation
[11:20] {Threei} I fail to see the logic here
[11:20] {Threei} but it's OK, I fail to see many things
[11:20] {davd} :s i'm staying mute on all of this
[11:20] {jfjf64} nemo logic
[11:20] {nemo} don't worry dave, you're on the list
[11:21] {Threei} samire... if you went in for a scalp, you have 1:12
[11:21] {Threei} if for bigger trade, half out and stop to .61
[11:21] {Threei} this is our routine
[11:22] {Threei} 1:12 - 1;2, of course
[11:22] {Threei} grr
[11:22] {Threei} 1:1
[11:22] {Threei} lol
[11:22] {Threei} my typing becomes worse as day progresses
[11:22] {Threei} which may be caused by ese's insistence that I trade sober
[11:23] {Threei} I honestly don't know why he demands that, as my performance obviously suffers
[11:24] {davd} i'm rich!!
[11:24] {RonS} win the lottery?
[11:24] {davd} fcx
[11:25] {Threei} nemo, crying yet?
[11:27] {nemo} real traders don't cry
[11:27] {Threei} no???
[11:27] {Threei} crap...
[11:27] {nemo} they sob incessantly at the cruelty and unfairness
[11:27] {Threei} [09:39] {Threei} RIMM, I am crying
[11:28] {Threei} correcting to: [09:39] {Threei} RIMM, I am sobbing incessantly at the cruelty and unfairness
[11:28] {Threei} FCX 1:2, 1/4 more out, stop to .51
[11:28] {Threei} getting the routine down, samire?
[11:28] {Threei} ebelog?
[11:29] {Threei} pragmatic?
[11:29] {Threei} nemo?
[11:29] {Threei} oops
[11:30] {_ebelog} Sorry was afk did you have a question
[11:33] {Threei} just describing the routine we follow when in trade and trying to make sure trialers get it down
[11:35] {Threei} nemo... sobbing incessantly at the cruelty and unfairness yet?
[11:35] {nemo} no, watching IWM for entry
[11:35] {Threei} ugh
[11:36] {Threei} I was so hoping you would suffer
[11:36] {nemo} I'm in this room ergo I suffer
[11:36] {Threei} oh good
[11:36] {Threei} makes my day brighter
[11:36] {nemo} That's why you're on the list in pen
[11:37] {Threei} wait... it's not that spam list that regularly sends me updates on the latest products enlargening vital organs?
[11:38] {nemo} no, personal and proprietary
[11:44] {dino} bid sm l .50
[11:47] {RonS} usna dino on pullback?
[11:50] {dino} dk, would rather see db
[11:51] {RonS} they are having a conf call at 4 edt so maybe high volume panic selling before for good entry...
[11:51] {RonS} ceo, cfo out...
[11:52] {dino} y
[11:53] {RonS} l bid .49 tgt .92...yours dino?
[11:55] {dino} .91
[11:55] {dino} stop .23
[11:55] {RonS} cuttin me by a penny eh?
[11:55] {RonS} :)
[11:55] {dino} simply because you stated it
[11:55] {RonS} lol
[11:59] {dino} thing won't move
[11:59] {Threei} that's what she said
[12:00] {dino} hmmm
[12:14] {nemo} MCP
[12:26] {Threei} Long Setup: X .50 break
[12:26] {Threei} if stays above .40
[12:29] {Threei} 20% Classify Themselves As the Working Poor
[12:30] {Threei} 60% more as unemployed poor?
[12:31] {nemo} lunchtime breaks..oy
[12:33] {dino} .
[12:35] {dino} bid stopped
[12:36] {Threei} NY-Boston Amtrak stopped, suspicious package
[12:36] {dino} ebix drop
[12:37] {davd} thanks 3i - how is metro north running?
[12:37] {Threei} anyone lives close to davd? please slap him on my behalf
[12:38] {RonS} what? he checking train traffic from across continent?
[12:38] {Threei} I'll owe you one slap
[12:38] {nemo} x looking short now
[12:41] {davd} not to me nemo - when i short a stock it always goes up :(
[12:41] {Threei} (US) US officials: China talks agree on process to ensure China govt uses legal software; have agreed on framework for export financing
[12:41] {Threei} - Financial system reform discussions went well
[12:41] {Threei} - China will allow foreign firms to sell auto insurance and mutual funds in China.
[12:41] {Threei} - Currency reforms are now part of China's inflation fighting policy, US officials receive notice that China intends to move further on its FX regime
[12:42] {Threei} China govt uses legal software
[12:42] {Threei} lol
[12:42] {davd} was the agreement typed on pirated software?
[12:42] {Threei} my first thought
[12:42] {Threei} MS Word, cracked
[12:43] {nemo} tighten stop to .44 Vad?
[12:43] {Threei} nah
[12:43] {davd} imo keep an eye on treasuries - staying weak
[12:44] {nemo} My ass is out
[12:47] {nemo} remind me, never breakout trades at lunch
[12:49] {dino} fngn sm l .00
[12:54] {davd} rimm under 44
[12:54] {Threei} (GR) ECB's Nowotny: Not expecting any contagion effects from a Greece haircut, an exit from the EMU by Greece would not be rational
[12:54] {Threei} hmm... really?
[12:54] {Threei} seems the most rational decision to me
[12:55] {Threei} we borrow, we live luxuriously, we default
[12:55] {Threei} I like the idea
[12:55] {Threei} - A restructuring for Greece would be a negative for Austria and Germany
[12:55] {Threei} now, this I agree
[12:56] {nemo} big seller .46
[12:57] {RonS} ?
[12:58] {davd} nsxx?
[12:58] {RonS} ?
[13:02] {Threei} Toyota Motor Corp Announces Opening of First Pipeline-Fed Hydrogen Station in the United States
[13:02] {Threei} - opening of the first hydrogen fueling station in the U.S. fed directly from an active industrial hydrogen pipeline. The station is a collaborative effort between Toyota, Air Products, Shell, South Coast Air Quality Management District (SCAQMD) and the Department of Energy (DOE). The facility will provide hydrogen for the Toyota fuel cell hybrid demonstration program vehicles as well as other manufacturers' fuel cell vehicle fleets in the Los Angeles area.
[13:15] {dino} holi to .69
[13:20] {Threei} (EU) Finland Social Democrats Party Spokesman: Investors need to share the cost of euro zone bailouts, debt restructuring needs to be looked at as an option
[13:34] {Threei} (GR) Eurozone sources say there has been no discussion of lowering interest rate on Greek loans
[13:34] {Threei} - financial press- Says meetings next will not be expected to address revisions to Irish loan package.
[13:35] {dino} holi to .80
[13:36] {dino} out holi .79, +.39
[13:43] {ese} outta here gents....duty calls.
[13:43] {Threei} take care ese
[13:47] {dino} cya
[13:49] {dino} rmti spike
[13:52] {RonS} rmti article: http://www.zentrader.ca/blog/?p=6527
[13:54] {RonS} fngn to .19
[13:55] {RonS} tgt .58
[13:56] {dino} was thinking .40
[13:56] {dino} bid rinsed, thats 3 today
[13:58] {RonS} dino: " i get rinsed so often that i never have to shower."
[14:00] {dino} getting that way
[14:00] {Threei} X finally worked... held by fingertips
[14:01] {nemo} hit .39
[14:01] {Threei} touched with 100 shraes... discretionary
[14:01] {RonS} yep
[14:01] {Threei} I kept
[14:01] {Threei} no fault in exiting
[14:01] {nemo} hit it 3 times
[14:01] {Threei} Ok
[14:01] {Threei} you win
[14:02] {Threei} I'll submit profit to NYSE
[14:02] {nemo} you were watchint the eagles weren't you
[14:02] {RonS} think nemo would rather lose but make money...
[14:03] {Threei} nemo exited at .44
[14:03] {RonS} i know...just sayin...
[14:07] {RonS} opinions anyone? usna .50 break long?...w/ consolidation of course
[14:08] {dino} you were right earlier on it
[14:08] {RonS} scalped it twice for .18 each
[14:13] {dino} gj
[14:14] {Threei} Long Setup: SLW .20 break
[14:15] {dino} panl waking up
[14:15] {nemo} yeah, I tried to catch the whole number break, blew right through
[14:18] {Threei} no go
[14:19] {Threei} (US) Fed's Lacker: It is better to take preemptive action on inflation, there is a danger to losing ground and being behind the curve - Q&A
[14:19] {Threei} - Sees possibility that the recent increase in jobless claims may be temporary.
[14:19] {Threei} - Downward revision of 2011 GDP forecast is reasonable given the weak Q1 GDP report. Q1 GDP weakness expected to be transitory.
[14:32] {Threei} Short Setup: X .50 break
[14:34] {RonS} got usna .53 to .88 +.35
[14:34] {Threei} nice
[14:36] {dino} fngn to .35
[14:36] {dino} gj ron
[14:37] {dino} out slip .31, +.31
[14:37] {RonS} ya i got partial at .44...holding balance fngn
[14:39] {Threei} wow
[14:40] {Threei} let's scratch X
[14:40] {Threei} no news for this spike
[14:41] {RonS} fngn...new supply overhead...baled on balnce +.33 ave
[14:44] {dino} gj
[14:45] {RonS} your call...thank you
[14:48] {dino} you do better on my calls than i do
[14:48] {davd} wtf rimm green
[14:48] {dino} i'll have to fake buy and wait intil you post
[14:57] {Threei} US Senator Levin calls commodity prices a concern, aims to hold hearings on oil market speculation
[14:57] {Threei} - Reminder: on 5/7 US Attorney General Holder says his energy market working group to probe the recent rapid drop in oil prices; and on 4/21 US Attorney General Holder forms working group to examine fraud in energy markets. Focus will be on oil and gas prices, Obama comments that some of the investigation will geared around oil market traders and speculators.
[14:58] {RonS} rimm
[15:05] {davd} may have been the financials that caused the market pop
[15:08] {RonS} sheesh fngn hit my .58 and more...what a putz...
[15:12] {Threei} (IR) Ireland Fin Min: Interest rate cuts are not a main priority for discussion at the EU finance minister meeting
[15:12] {Threei} right
[15:12] {Threei} they don't want to pay at all
[15:19] {Threei} masrket decided to rally into close
[15:19] {Threei} looking for long trade
[15:27] {Threei} RIMM is flagging
[15:28] {Threei} Long Setup: RIMM .40 break
[15:30] {Threei} looking for another entry
[15:32] {Threei} not sure about new high for SPY, opullback into close is just as likely
[15:32] {nemo} IWM hit multi-time frame resistance
[15:40] {RonS} slw lod
[15:43] {davd} aapl
[15:43] {Threei} SLW just can't swim
[15:52] {Threei} OK, too muddy and too close to eod
[15:52] {Threei} have a great evening, see you all tomorrow
[15:52] {nemo} gnite4
[15:55] {larisa} bye :)
Session Time: Tue May 10 00:00:00 2011
[08:30] {Threei} *(US) APR IMPORT PRICE INDEX M/M: 2.2% V 1.8%E; Y/Y: 11.1% V 10.4%E
[08:30] {Threei} thank you ben
[08:58] {dino} gm all
[08:58] {Threei} dino :)
[09:07] {ese} mornin all.....can spend a little bit of time on the board today.......thank goodness....you all are like a drug...was on withdrawl
[09:08] {RonS} gm all...so where is the investigation?...crack spreads are north of $35 above 5 yr high
[09:08] {Threei} ese, ron :)
[09:10] {Threei} major news of the day:
[09:10] {ese} ?
[09:10] {Threei} 1. MSFT buys Skype
[09:10] {Threei} 2. Arnold and wife separate
[09:10] {ese} ya...just reading that
[09:10] {ese} ouuuuuu
[09:12] {_samire} gm
[09:12] {larisa} gm :)
[09:12] {ese} can't find the ticker symbol for skype...anyone know
[09:13] {Threei} samire, larisa :)
[09:13] {Threei} not public
[09:13] {ese} hmmm didn't know that
[09:14] {dino} ebay
[09:14] {Threei} yeah, belonged to Ebay
[09:14] {Threei} who needs some relaxation before trading day: http://photography.realitytrader.com/2011/05/tulip-mania-2.html
[09:15] {Threei} RIMM is red again
[09:16] {ese} vad....theres a house right here on Beach Drive kitty corner to Willows Beach park with a zillion tullips planted around the house......about a block from my place
[09:17] {Threei} yeah, I thought of buying that
[09:17] {Threei} until I heard the price
[09:18] {ese} is that house up for sale...the one with the tulips
[09:18] {Threei} nah... just kidding
[09:20] {Threei} watching RIMM for short
[09:21] {dino} brfs gap filling
[09:23] {RonS} ...sorry...can't help it...methinks barf always fills the gap...
[09:25] {dino} lol
[09:26] {_samire} i held some slw overnight...should i sell at open ????any opinion ?
[09:26] {dino} y
[09:26] {dino} as livermoore would say; "when you get lucky, take it"
[09:26] {_samire} ok
[09:27] {Threei} you held for a gap?
[09:27] {Threei} you've got it
[09:27] {dino} just my opinion samire, vad is the teacher here
[09:27] {_samire} where should be my stop ?
[09:27] {Threei} no one knows what happens next, and SLW is famous for selling off at the open 9 times out of 10
[09:27] {nemo} SLW, short on open
[09:28] {RonS} ...i always thought that was a guy at a bar dino...
[09:29] {dino} lol, took me a minute
[09:30] {Threei} Short Setup: RIMM .90 break half lot
[09:30] {Threei} if stays under 45
[09:30] {Threei} ummm
[09:30] {nemo} oh well
[09:31] {Threei} good luck getting a fill
[09:31] {Threei} lol
[09:31] {Threei} let's see if second chance comes along
[09:31] {jfjf64} mornin
[09:31] {Threei} jf :)
[09:31] {Threei} Short Setup: SLW .30 break
[09:32] {Threei} stop .45
[09:32] {Threei} bid half under .20
[09:32] {Threei} 1:1
[09:33] {Threei} scalpers take profit
[09:33] {Threei} stop to .35 for the balance
[09:33] {nemo} bmti dino
[09:34] {dino} cancer concerns bone graft stuff
[09:34] {Threei} stop to .31 SLW
[09:35] {dino} itmn
[09:35] {Threei} 1:2
[09:35] {Threei} 1/4 out more
[09:35] {dino} big seller 16%
[09:35] {Threei} stop to .21
[09:36] {Threei} that's SLW in the morning for you, samire
[09:36] {_samire} Thanks DINO ...sold slw at open
[09:36] {Threei} happens almost every single time
[09:36] {Threei} 1:3
[09:36] {Threei} out in full
[09:36] {_samire} Thanks Threeifor the short
[09:36] {Threei} +.44
[09:36] {Threei} welcome
[09:36] {dino} :)
[09:36] {_samire} Good job
[09:36] {jfjf64} nice ty
[09:37] {Threei} jf, here is what you'll have to do to repay for this:
[09:37] {dino} bid
[09:37] {Threei} go and look at photos at http://photography.realitytrader.com/2011/05/tulip-mania-2.html
[09:37] {Threei} frikin RIMM never gave us another chance
[09:37] {jfjf64} no prob
[09:38] {Threei} I was hoping for "no, anything but that"... what is the fun if you don't suffer
[09:38] {_samire} i saw the beatiful flowers
[09:38] {Threei} ty
[09:38] {_samire} from link
[09:39] {Threei} RIMM, I am crying
[09:39] {Threei} but still... no mmarket orders
[09:39] {Threei} remember what happened yesterday with SLW long
[09:40] {Threei} OK, let's try RIMM bounce
[09:40] {Threei} half lot, .50 trigger
[09:40] {jfjf64} hello
[09:41] {jfjf64} kicked off
[09:41] {Threei} feel free to exit RIMM here, just a scalp
[09:42] {Threei} too weak to stick around for long
[09:43] {jfjf64} got kicked off
[09:43] {RonS} got .53 to .66 thanks 3i
[09:43] {Threei} :)
[09:44] {dino} bid lod
[09:44] {jfjf64} aapl
[09:45] {jfjf64} gettin hit
[09:46] {Threei} (US) Preview: IBD/TIPP Economic Optimism index due out at 10:00ET**Consensus expectation: 41.8e v 40.8 prior
[09:47] {dino} bid sm l .40
[09:47] {Threei} (GR) France Fin Min Lagarde: Pledges to continue EU rescue of Greece
[09:49] {Threei} Short Setup: USO .40 break
[09:50] {Threei} stop .45 for scalpers, .51 day traders
[09:51] {Threei} scalpers take profit, day traders half out
[09:51] {RonS} got sco for .15 on that call...thanks 3i
[09:51] {Threei} :)
[09:51] {Threei} stop to .41
[09:52] {RonS} and thanks nemo for pointing it out since i cannot short uso
[09:52] {nemo} NP
[09:52] {dino} usna
[09:52] {ese} L mnta .52
[09:52] {_samire} what is the opposite of USO ...if i need to go long..example slw and zsl are opposites
[09:52] {Threei} good idea, just remember that SCO is less liquid and requires less shares
[09:53] {RonS} ya, did half lot
[09:53] {ese} out mnta .65 +.13
[09:53] {Threei} (GR) German Gov;t: Expects Greece to fulfill its terms of the rescue package; Not discussing a restructuring of its debt
[09:54] {Threei} SCO, samire
[09:54] {Threei} UltraShort DJ-UBS Crude Oil
[09:54] {_samire} thanks
[09:54] {dino} bid stop -.21
[09:56] {jfjf64} rimm.34
[09:56] {jfjf64} short
[09:56] {Threei} looks right to me jf
[09:57] {dino} rinses
[09:57] {Threei} numbers in 4 min
[09:57] {jfjf64} cant get out of own way
[09:57] {jfjf64} lots green not moving
[09:58] {jfjf64} dbi
[09:58] {dino} panl
[09:58] {Threei} Short Setup: RIMM .35 break
[09:58] {Threei} if stays under .45
[09:58] {Threei} let's make it official :)
[09:59] {jfjf64} after this ill lk pictures
[09:59] {Threei} lol
[09:59] {Threei} hope numbers don't spoil the play
[10:00] {nemo} too fast
[10:00] {nemo} rimm is dead man walking
[10:00] {Threei} *(US) MAY IBD/TIPP ECONOMIC OPTIMISM: 42.8V 41.8E
[10:00] {jfjf64} or help
[10:02] {jfjf64} die ya dog
[10:02] {Threei} stop to .41, IMO
[10:03] {jfjf64} yes make it official
[10:03] {Threei} after all it touched 1:1 before bouncing
[10:03] {Threei} thing is beautifully weak
[10:03] {Threei} 1:1 again
[10:03] {Threei} half out
[10:03] {Threei} (GR) Greece Apr YTD Cash Balance: -6.8B
[10:05] {ese} s sina sm .16
[10:05] {ese} cover sina.,94
[10:05] {ese} dam that went quick+.22
[10:06] {jfjf64} out
[10:07] {jfjf64} left .40
[10:08] {dino} panl sm l .65, stop .29
[10:09] {Threei} Short Setup: X .10 break
[10:09] {Threei} if stays under .20
[10:10] {Threei} not a scalp
[10:13] {Threei} still valid
[10:13] {ese} L med .33
[10:14] {Threei} invalidated
[10:15] {ese} out med .48
[10:15] {Threei} nice
[10:15] {ese} +.15
[10:15] {ese} tks
[10:15] {ese} said this before when you don't trade for a few days....feels strange
[10:16] {ese} almost like you don't trust yourself
[10:16] {Threei} yes... alcoholics too say first two hours feel very weird
[10:16] {RonS} took x l at .14 w/ .10 stop on your call 3i, out .26 thanks
[10:16] {ese} lol
[10:16] {Threei} gj ron
[10:16] {Threei} creative
[10:17] {Threei} old russian joke ese... "doc demanded that I quit drinking... so I did... not drinking one hour, two..."
[10:20] {Threei} SLW
[10:21] {Threei} Short Setup: SLW .60 break
[10:21] {Threei} .66 stop
[10:22] {Threei} no go
[10:23] {ese} just saw that vad.......very funny
[10:29] {_samire} soory but took ZSL long
[10:29] {_samire} sorry
[10:29] {_samire} break of 5s
[10:29] {dino} out panl .45, +.80
[10:30] {_samire} but was your idea Threei
[10:30] {ese} eeeeyeowwwwwzaaaa....nice one dino
[10:30] {_samire} opposite of
[10:30] {dino} ty
[10:30] {_samire} slw
[10:30] {_samire} i can not short
[10:31] {jfjf64} what broker
[10:33] {Threei} SLW rinse
[10:38] {ese} holi dino.....beat yesterday raised quidance....
[10:38] {dino} panl sm l .51
[10:39] {dino} ty, i'll check
[10:39] {nemo} RIMM
[10:39] {ese} been meaning to ask you.....do you adjust your 10% rule based on the price of the stock?
[10:39] {ese} 10% is different for different levels
[10:40] {dino} not sure what 10% you mean
[10:40] {dino} top 10 gainers/losers in %, price no matter
[10:41] {ese} maybe i've got it wrong but you wait for say a 10% drop before you consider buying....something like that don't you
[10:41] {ese} as long as the news is good
[10:41] {ese} ahhhhhh ok
[10:42] {dino} i like 10% but even 5% i look at. it was top 10 percentage gainers and loser scan
[10:42] {nemo} rimm
[10:42] {ese} hmmmmm ok
[10:43] {dino} paml stop -.35
[10:43] {dino} panl
[10:45] {dino} f'ng panl rinse
[10:45] {dino} holi sm l .39
[10:46] {_samire} when did this room started ?
[10:46] {dino} ten years?
[10:46] {dino} been here 4 or so myself
[10:47] {Threei} 2000
[10:47] {_samire} it is my second day and i love it.......but how come few people in the room ?????
[10:47] {Threei} that's easy one
[10:47] {dino} get alot who try to change us and they quit
[10:48] {Threei} people come in numbers to the rooms that promise insane riches with no work
[10:48] {Threei} we promise reasonable profits achieved as a result of hard work
[10:48] {dino} good point 3i, we are more base hits than home runs
[10:48] {Threei} we deliver on promise, they don't - but it's a lure of promise that attracts masses
[10:48] {_samire} make sense......i love your tight stops
[10:49] {Threei} think of it this way: is majority right in trading?
[10:49] {jfjf64} so true
[10:49] {Threei} if not, then the majority coming to other rooms tells you all you need to know
[10:50] {dino} -samire, consider this room an income room, not get rich quick
[10:50] {Threei} exactly
[10:50] {_samire} yes
[10:50] {dino} we grind out a living daily
[10:51] {Threei} and people come to trading with dream of becming millionares in a matter of months
[10:51] {jfjf64} and we pick and choose who we want in room
[10:51] {jfjf64} right nemo
[10:51] {Threei} so we are not of interest to them
[10:51] {dino} still trying to figure out who allows jf in, lol
[10:51] {Threei} "what? I'll have to study something?"
[10:52] {RonS} jeez...holi was trading .38...put order in .02 higher and only got a partial fill...just noticed
[10:52] {Threei} had a guy recently who observed room for a week, then said:
[10:52] {nemo} right JF...my insulting nature chase off many
[10:53] {Threei} what's the deal with courseas, books, studying... there is aroom, you make calls I follow them, I make money. I don't have to study anything, you just make calls
[10:53] {nemo} yeah, right
[10:53] {Threei} I didn't even bother explaining why that won't work
[10:54] {Threei} lazy and stupid is no way to go through life, right? {G}
[10:54] {dino} here you go ron
[10:54] {nemo} fat, lazy and stupid...but I've made it somehow so far
[10:54] {Threei} me too
[10:54] {Threei} but hey, exceptions only confirm the rule
[10:54] {RonS} ya, some bastid showed up w/ 8k at .42
[10:55] {dino} ese most likely
[10:55] {Threei} after all, Pluto made it to planet status, even though temporary, being small, not too bright and gassy
[10:55] {ese} ha ha.....ha ha....
[10:56] {dino} panl smr l .11
[10:56] {RonS} panl = epitome of pulp
[10:56] {dino} smr=3
[10:56] {dino} "pulp moves baby"
[10:57] {RonS} termite quote?
[10:57] {dino} itmn lod
[10:58] {dino} costanzza, sienfeld
[10:59] {ese} that was funny.......
[10:59] {dino} 37.15 itmn gap mar
[11:00] {nemo} BSX dino
[11:01] {dino} ceo retires
[11:02] {dino} sm l .98 bsx
[11:03] {dino} itmn gap fill
[11:03] {dino} gut says 35 magnet
[11:03] {Threei} Long Setup: X .50 break
[11:03] {Threei} if stays above .40
[11:11] {Threei} Short Setup: FCX .60 break
[11:11] {Threei} if stays under .70
[11:17] {_samire} we are in FCX.....please confirm
[11:18] {davd} i am
[11:18] {_samire} ok
[11:18] {Threei} it triggered
[11:18] {Threei} why wouldn't we
[11:18] {nemo} I'm not
[11:18] {Threei} you be cryin'
[11:18] {davd} davd slaps nemo with team player handbook
[11:18] {nemo} probably
[11:18] {Threei} we be profitin'
[11:19] {Threei} scalp or partiaal, your choice
[11:19] {Threei} I have no preference
[11:19] {Threei} 1;1
[11:19] {nemo} davd...I have a habit of catching Vad's stops, so when I don't enter, it's usually confirmation
[11:20] {Threei} I fail to see the logic here
[11:20] {Threei} but it's OK, I fail to see many things
[11:20] {davd} :s i'm staying mute on all of this
[11:20] {jfjf64} nemo logic
[11:20] {nemo} don't worry dave, you're on the list
[11:21] {Threei} samire... if you went in for a scalp, you have 1:12
[11:21] {Threei} if for bigger trade, half out and stop to .61
[11:21] {Threei} this is our routine
[11:22] {Threei} 1:12 - 1;2, of course
[11:22] {Threei} grr
[11:22] {Threei} 1:1
[11:22] {Threei} lol
[11:22] {Threei} my typing becomes worse as day progresses
[11:22] {Threei} which may be caused by ese's insistence that I trade sober
[11:23] {Threei} I honestly don't know why he demands that, as my performance obviously suffers
[11:24] {davd} i'm rich!!
[11:24] {RonS} win the lottery?
[11:24] {davd} fcx
[11:25] {Threei} nemo, crying yet?
[11:27] {nemo} real traders don't cry
[11:27] {Threei} no???
[11:27] {Threei} crap...
[11:27] {nemo} they sob incessantly at the cruelty and unfairness
[11:27] {Threei} [09:39] {Threei} RIMM, I am crying
[11:28] {Threei} correcting to: [09:39] {Threei} RIMM, I am sobbing incessantly at the cruelty and unfairness
[11:28] {Threei} FCX 1:2, 1/4 more out, stop to .51
[11:28] {Threei} getting the routine down, samire?
[11:28] {Threei} ebelog?
[11:29] {Threei} pragmatic?
[11:29] {Threei} nemo?
[11:29] {Threei} oops
[11:30] {_ebelog} Sorry was afk did you have a question
[11:33] {Threei} just describing the routine we follow when in trade and trying to make sure trialers get it down
[11:35] {Threei} nemo... sobbing incessantly at the cruelty and unfairness yet?
[11:35] {nemo} no, watching IWM for entry
[11:35] {Threei} ugh
[11:36] {Threei} I was so hoping you would suffer
[11:36] {nemo} I'm in this room ergo I suffer
[11:36] {Threei} oh good
[11:36] {Threei} makes my day brighter
[11:36] {nemo} That's why you're on the list in pen
[11:37] {Threei} wait... it's not that spam list that regularly sends me updates on the latest products enlargening vital organs?
[11:38] {nemo} no, personal and proprietary
[11:44] {dino} bid sm l .50
[11:47] {RonS} usna dino on pullback?
[11:50] {dino} dk, would rather see db
[11:51] {RonS} they are having a conf call at 4 edt so maybe high volume panic selling before for good entry...
[11:51] {RonS} ceo, cfo out...
[11:52] {dino} y
[11:53] {RonS} l bid .49 tgt .92...yours dino?
[11:55] {dino} .91
[11:55] {dino} stop .23
[11:55] {RonS} cuttin me by a penny eh?
[11:55] {RonS} :)
[11:55] {dino} simply because you stated it
[11:55] {RonS} lol
[11:59] {dino} thing won't move
[11:59] {Threei} that's what she said
[12:00] {dino} hmmm
[12:14] {nemo} MCP
[12:26] {Threei} Long Setup: X .50 break
[12:26] {Threei} if stays above .40
[12:29] {Threei} 20% Classify Themselves As the Working Poor
[12:30] {Threei} 60% more as unemployed poor?
[12:31] {nemo} lunchtime breaks..oy
[12:33] {dino} .
[12:35] {dino} bid stopped
[12:36] {Threei} NY-Boston Amtrak stopped, suspicious package
[12:36] {dino} ebix drop
[12:37] {davd} thanks 3i - how is metro north running?
[12:37] {Threei} anyone lives close to davd? please slap him on my behalf
[12:38] {RonS} what? he checking train traffic from across continent?
[12:38] {Threei} I'll owe you one slap
[12:38] {nemo} x looking short now
[12:41] {davd} not to me nemo - when i short a stock it always goes up :(
[12:41] {Threei} (US) US officials: China talks agree on process to ensure China govt uses legal software; have agreed on framework for export financing
[12:41] {Threei} - Financial system reform discussions went well
[12:41] {Threei} - China will allow foreign firms to sell auto insurance and mutual funds in China.
[12:41] {Threei} - Currency reforms are now part of China's inflation fighting policy, US officials receive notice that China intends to move further on its FX regime
[12:42] {Threei} China govt uses legal software
[12:42] {Threei} lol
[12:42] {davd} was the agreement typed on pirated software?
[12:42] {Threei} my first thought
[12:42] {Threei} MS Word, cracked
[12:43] {nemo} tighten stop to .44 Vad?
[12:43] {Threei} nah
[12:43] {davd} imo keep an eye on treasuries - staying weak
[12:44] {nemo} My ass is out
[12:47] {nemo} remind me, never breakout trades at lunch
[12:49] {dino} fngn sm l .00
[12:54] {davd} rimm under 44
[12:54] {Threei} (GR) ECB's Nowotny: Not expecting any contagion effects from a Greece haircut, an exit from the EMU by Greece would not be rational
[12:54] {Threei} hmm... really?
[12:54] {Threei} seems the most rational decision to me
[12:55] {Threei} we borrow, we live luxuriously, we default
[12:55] {Threei} I like the idea
[12:55] {Threei} - A restructuring for Greece would be a negative for Austria and Germany
[12:55] {Threei} now, this I agree
[12:56] {nemo} big seller .46
[12:57] {RonS} ?
[12:58] {davd} nsxx?
[12:58] {RonS} ?
[13:02] {Threei} Toyota Motor Corp Announces Opening of First Pipeline-Fed Hydrogen Station in the United States
[13:02] {Threei} - opening of the first hydrogen fueling station in the U.S. fed directly from an active industrial hydrogen pipeline. The station is a collaborative effort between Toyota, Air Products, Shell, South Coast Air Quality Management District (SCAQMD) and the Department of Energy (DOE). The facility will provide hydrogen for the Toyota fuel cell hybrid demonstration program vehicles as well as other manufacturers' fuel cell vehicle fleets in the Los Angeles area.
[13:15] {dino} holi to .69
[13:20] {Threei} (EU) Finland Social Democrats Party Spokesman: Investors need to share the cost of euro zone bailouts, debt restructuring needs to be looked at as an option
[13:34] {Threei} (GR) Eurozone sources say there has been no discussion of lowering interest rate on Greek loans
[13:34] {Threei} - financial press- Says meetings next will not be expected to address revisions to Irish loan package.
[13:35] {dino} holi to .80
[13:36] {dino} out holi .79, +.39
[13:43] {ese} outta here gents....duty calls.
[13:43] {Threei} take care ese
[13:47] {dino} cya
[13:49] {dino} rmti spike
[13:52] {RonS} rmti article: http://www.zentrader.ca/blog/?p=6527
[13:54] {RonS} fngn to .19
[13:55] {RonS} tgt .58
[13:56] {dino} was thinking .40
[13:56] {dino} bid rinsed, thats 3 today
[13:58] {RonS} dino: " i get rinsed so often that i never have to shower."
[14:00] {dino} getting that way
[14:00] {Threei} X finally worked... held by fingertips
[14:01] {nemo} hit .39
[14:01] {Threei} touched with 100 shraes... discretionary
[14:01] {RonS} yep
[14:01] {Threei} I kept
[14:01] {Threei} no fault in exiting
[14:01] {nemo} hit it 3 times
[14:01] {Threei} Ok
[14:01] {Threei} you win
[14:02] {Threei} I'll submit profit to NYSE
[14:02] {nemo} you were watchint the eagles weren't you
[14:02] {RonS} think nemo would rather lose but make money...
[14:03] {Threei} nemo exited at .44
[14:03] {RonS} i know...just sayin...
[14:07] {RonS} opinions anyone? usna .50 break long?...w/ consolidation of course
[14:08] {dino} you were right earlier on it
[14:08] {RonS} scalped it twice for .18 each
[14:13] {dino} gj
[14:14] {Threei} Long Setup: SLW .20 break
[14:15] {dino} panl waking up
[14:15] {nemo} yeah, I tried to catch the whole number break, blew right through
[14:18] {Threei} no go
[14:19] {Threei} (US) Fed's Lacker: It is better to take preemptive action on inflation, there is a danger to losing ground and being behind the curve - Q&A
[14:19] {Threei} - Sees possibility that the recent increase in jobless claims may be temporary.
[14:19] {Threei} - Downward revision of 2011 GDP forecast is reasonable given the weak Q1 GDP report. Q1 GDP weakness expected to be transitory.
[14:32] {Threei} Short Setup: X .50 break
[14:34] {RonS} got usna .53 to .88 +.35
[14:34] {Threei} nice
[14:36] {dino} fngn to .35
[14:36] {dino} gj ron
[14:37] {dino} out slip .31, +.31
[14:37] {RonS} ya i got partial at .44...holding balance fngn
[14:39] {Threei} wow
[14:40] {Threei} let's scratch X
[14:40] {Threei} no news for this spike
[14:41] {RonS} fngn...new supply overhead...baled on balnce +.33 ave
[14:44] {dino} gj
[14:45] {RonS} your call...thank you
[14:48] {dino} you do better on my calls than i do
[14:48] {davd} wtf rimm green
[14:48] {dino} i'll have to fake buy and wait intil you post
[14:57] {Threei} US Senator Levin calls commodity prices a concern, aims to hold hearings on oil market speculation
[14:57] {Threei} - Reminder: on 5/7 US Attorney General Holder says his energy market working group to probe the recent rapid drop in oil prices; and on 4/21 US Attorney General Holder forms working group to examine fraud in energy markets. Focus will be on oil and gas prices, Obama comments that some of the investigation will geared around oil market traders and speculators.
[14:58] {RonS} rimm
[15:05] {davd} may have been the financials that caused the market pop
[15:08] {RonS} sheesh fngn hit my .58 and more...what a putz...
[15:12] {Threei} (IR) Ireland Fin Min: Interest rate cuts are not a main priority for discussion at the EU finance minister meeting
[15:12] {Threei} right
[15:12] {Threei} they don't want to pay at all
[15:19] {Threei} masrket decided to rally into close
[15:19] {Threei} looking for long trade
[15:27] {Threei} RIMM is flagging
[15:28] {Threei} Long Setup: RIMM .40 break
[15:30] {Threei} looking for another entry
[15:32] {Threei} not sure about new high for SPY, opullback into close is just as likely
[15:32] {nemo} IWM hit multi-time frame resistance
[15:40] {RonS} slw lod
[15:43] {davd} aapl
[15:43] {Threei} SLW just can't swim
[15:52] {Threei} OK, too muddy and too close to eod
[15:52] {Threei} have a great evening, see you all tomorrow
[15:52] {nemo} gnite4
[15:55] {larisa} bye :)
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