Sep 07 2011

Videoupdate to SPY daily, continuation of yesterday's with fresh developments

As usual on slow climb days, extreme boredom, not much activity, ending slightly negative.

Session Time: Wed Sep 07 00:00:00 2011
[08:35] {Threei}  http://www.facebook.com/photo.php?v=130602863705331
[08:36] {nemo} can't open it, content not found
[08:36] {Threei}  then http://tradinglog.realitytrader.com/2011/09/sep-07-2011.html
[08:37] {Threei}  try http://www.facebook.com/RealityTrader, do you see the video?
[08:37] {nemo} it's running a channel
[08:37] {nemo} yep
[08:37] {Threei}  OK, better link:
[08:37] {Threei}  http://www.facebook.com/photo.php?v=130602863705331&set=vb.235739863127363&type=1&theater
[08:37] {nemo} notice how the volume has been dropping
[08:37] {nemo} same with the other indexes
[08:38] {Threei}  you mean intraday of daily?
[08:38] {nemo} daily
[08:38] {nemo} volumes have been dropping since the recent bottom
[08:39] {Threei}  which is what I mentioned in the video
[08:39] {nemo} spy high this morning 50% retrace off the July '10 bottom
[08:39] {nemo} yes
[08:40] {nemo} .  think 119.60 then 120.50ish upper levels today, support likely around 117.75
[08:48] {Threei}  lol: (GR) UBS European Economist: Greece is insolvent and needs to default on its sovereign obligations
[08:48] {Threei}  no really?
[08:52] {Z} morning everyone
[08:52] {Threei}  Z :)
[09:07] {dino} gm all
[09:08] {Threei}  dino :)
[09:08] {Threei}  (GR) Greece two-year gov't yields continue to rise; above 54.1%, higher by more than 180bps
[09:08] {nemo} who says?
[09:08] {nemo} btw dino:
[09:08] {nemo} http://www.freestockcharts.com?emailChartID=d3937765-707c-461a-8d02-cfcaf9600748
[09:08] {nemo} spy levels for the week
[09:09] {nemo} and IWM: http://www.freestockcharts.com?emailChartID=d26c3047-93f8-4df5-a500-f2c62513eaae
[09:11] {nemo} short slw?
[09:11] {Threei}  sigh... I need to change my song
[09:11] {Threei}  I am too predictable
[09:11] {_shaun70} hello everyone
[09:11] {Threei}  shaun :)
[09:12] {ese} gm
[09:12] {Threei}  ese :)
[09:12] {Threei}  welcome to the jungle, shaun
[09:12] {_shaun70} I cant stay long - am about to board a plane from Cyprus to London but thought I would check you guys out for a bit
[09:12] {Threei}  these guys are savages, never mind them
[09:12] {_shaun70} Thanks Vad
[09:12] {ese} am gonna be close to cyprus in march
[09:13] {_shaun70} I've spent the last week trading from my swimming pool :)
[09:13] {nemo} wlt .50 level
[09:13] {ese} feel bad about that for ya
[09:13] {nemo} yeah
[09:13] {ese} it's too bad it had to happen to you
[09:13] {nemo} sucks being him
[09:13] {Threei}  hehe
[09:13] {Threei}  told ya shaun
[09:13] {ese} trading from the pool
[09:13] {Threei}  now you see what I mean
[09:13] {_shaun70} haha
[09:16] {nemo} frickin rabbit.  I bring a bag of timothy hay upstairs so she'll have something to munch on
[09:16] {nemo} Think she can just eat it out of the open end of the bag
[09:16] {nemo} No!
[09:17] {nemo} She's got to kick all of it out and find the tender morsels...wtf
[09:17] {ese} lol
[09:17] {nemo} should be fun vacuuming it out of the carpet
[09:17] {ese} better you than us
[09:17] {Threei}  larisa... another sample for you to see how my accent improves by day: http://www.facebook.com/photo.php?v=130602863705331
[09:18] {larisa} gm :)
[09:18] {Threei}  rofl ese
[09:18] {nemo} tna long .18
[09:18] {nemo} spy moving
[09:18] {nemo} half out .32
[09:18] {nemo} whoa
[09:19] {larisa} link does not work for me :)
[09:19] {Threei}  http://www.facebook.com/photo.php?v=130602863705331&set=vb.235739863127363&type=1&theater
[09:19] {ese} nice one nemo
[09:19] {Threei}  does this?
[09:19] {nemo} it keeps going
[09:19] {nemo} 1/4 more .58
[09:19] {larisa} nope
[09:19] {Threei}  what the deuce
[09:19] {nemo} this is ridiculous, but I"ll take it
[09:19] {Threei}  OK, backup that always works:
[09:19] {Threei}  http://tradinglog.realitytrader.com/2011/09/sep-07-2011.html
[09:20] {nemo} stop is .35 for last bit
[09:22] {dino} gj
[09:22] {ese} nice one nemo
[09:28] {nemo} still in
[09:28] {nemo} just for the last 1/4 though
[09:29] {nemo} saw spy start moving, and tna was just sitting there like a squirrel in the headlights
[09:29] {dino} gaps above 11241,11493;  2219;  1204
[09:29] {Threei}  OK... I hate to be so predictable but watching SLW for short
[09:29] {Threei}  waiting for spread to tighten thugh
[09:30] {nemo} now I'm out
[09:30] {Threei}  FCX too
[09:30] {Threei} Short Setup: FCX  .10 break
[09:30] {Threei}  if stays under .20
[09:30] {nemo} oops
[09:30] {Threei}  man, that was fast
[09:31] {Threei}  see if bounces into trigger
[09:31] {nemo} yeah, teleport
[09:31] {Threei}  OK
[09:31] {Threei}  in
[09:31] {Threei}  stop above .20
[09:32] {Threei}  1:1
[09:32] {Threei}  1:2
[09:33] {Threei}  stop for the balance at .11
[09:36] {Threei}  done
[09:37] {Threei} Long Setup:  RIMM  .30 break
[09:38] {Threei}  if stays above .20 for scalpers, .15 day traders
[09:39] {_shaun70} Am out of here - flight boarding.  Good luck all
[09:39] {Threei}  take care shaun
[09:39] {Threei}  we will be here when you land
[09:40] {_shaun70} Vad :)
[09:46] {Threei}  no go RIMM
[09:48] {pragmatic} X 29 ?
[09:48] {Threei}  maybe if consolidsates here for cuple more minutes
[09:48] {Threei}  otherwise, not liking it very much
[09:53] {pragmatic} ok, how about X short now ? (29)
[09:53] {Threei}  yes
[09:53] {Threei}  just thought that
[09:53] {Threei} Short Setup: X  29 break
[09:53] {Threei}  if stays under .10
[09:54] {Threei}  1:1
[09:56] {RonS} dino, nav really pulpy today...
[10:02] {nemo} liking x long now, market going
[10:03] {Threei}  looks this way, yes
[10:03] {Threei}  inversed H&S too
[10:03] {Threei} Long Setup:  X  .12
[10:03] {Threei}  if stays above 29
[10:04] {nemo} spy miht pull back to .70 area
[10:04] {Threei}  cool
[10:04] {Threei}  will be a good test for X
[10:04] {nemo} yeah
[10:04] {Threei}  if holding near here, great long candidate
[10:04] {nemo} long .11
[10:09] {dino} ron, nav, no like
[10:09] {dino} played a little wlt 90 to 91, vsm
[10:09] {dino} still in brk/b from yesterday
[10:10] {ese} L THC .41
[10:12] {nemo} gdx .50
[10:13] {Threei} Long Setup:  SLW  .10 break
[10:13] {Threei}  too fast
[10:13] {nemo} took gdx .52
[10:13] {dino} brk/b to .93
[10:14] {nemo} stop is .54
[10:14] {Threei}  fiiinally X
[10:14] {nemo} x
[10:14] {Threei}  took its sweet time
[10:14] {Threei}  1:1
[10:15] {Threei}  SLW 1:1 too but without us onboard
[10:15] {Threei}  my fault actually, was a little late on alert
[10:17] {nemo} stop frickin' typing with your wings
[10:17] {nemo} fins
[10:17] {nemo} elbows
[10:18] {nemo} toes
[10:18] {nemo} antennae
[10:18] {Threei}  hmmm
[10:18] {nemo} then again...with you, we know voice recognition software in English won't work
[10:18] {Threei}  you narrow my options so much
[10:18] {Threei}  I tried that, yeah
[10:18] {Threei}  after two attempts it typed: leave me alone
[10:18] {nemo} probably makes the computer reboot
[10:18] {dino} out brk/b .93, +1.73
[10:20] {ese} awesome.....
[10:20] {ese} 10K
[10:20] {ese} ?
[10:20] {Threei}  wtg
[10:24] {dino} 400
[10:25] {Threei} Long Setup:  FCX.30  break
[10:25] {Threei} Long Setup:  FCX  .30 break
[10:25] {ese} huh!!!!!!1
[10:26] {Threei}  ?
[10:26] {Threei}  invalidated
[10:26] {Threei}  you know the best thing about this setup?
[10:26] {Threei}  it formed .40 break, and I decided I won't call it, it was to be a trap
[10:27] {ese} only 400.....auch du miya!!!!!!
[10:27] {Threei}  which it turned to be
[10:27] {ese} lol
[10:27] {Threei}  look how hard it smacked breakut buyers
[10:28] {ese} not nice for sure
[10:33] {ese} L THC avg .37
[10:36] {nemo} THC...hehehehe
[10:47] {patience} good morning
[10:48] {Threei}  patience :)
[11:04] {RonS} ...time to hear from Z...
[11:04] {RonS} ...since that is all that is going on...
[11:05] {Threei}  lol
[11:10] {Z} Z is lurking in the bushes
[11:10] {Z} :)
[11:11] {RonS} ...only nemo gets to do that...
[11:15] {Z} ...lurking in the bushes, waiting for threei's next explosive call :)
[11:15] {nemo} oh jeez...glad I'm wearing boots
[11:15] {Threei}  so am I, Z
[11:15] {Z} lol nemo
[11:15] {Threei}  both luring and waiting for my call
[11:16] {Threei}  lurking
[11:16] {dino}   chk leftovers stop to .29
[11:18] {dino} make it .39
[11:19] {RonS} uri 19% float short...slow burn squeeze ongoing
[11:19] {RonS} ...or the slowdown has ended...
[11:19] {RonS} :)
[11:21] {Z} according to the cnbc rose colored glasses, all is well in the financial world again
[11:22] {dino} until next drop
[11:22] {Z} exactly, changes by the hour for those clowns
[11:23] {dino} thats why music on, no cnbc after 9:00 am
[11:23] {RonS} europe closes in 6 min
[11:24] {nemo} for good?
[11:24] {Z} lol
[11:24] {RonS} don meredith
[11:24] {nemo} Turn out the lights...
[11:24] {dino} lol
[11:25] {nemo} and don't let the door hit you in the ass on the way out...
[11:31] {Threei}  lol
[11:31] {Threei}  woke up and saw nemo's "for good/"
[11:31] {Threei}  if Ron turns away I'll tell a soviet joke
[11:31] {RonS} ok w/ me...
[11:32] {RonS} that's how slow it is...
[11:32] {Threei}  hehe
[11:32] {dino} hoho\
[11:32] {Threei}  on a day of first soviet rocket launch, kid runs home screaming: Grandma, communists flew to the orbit!
[11:33] {Threei}  Grandma: all them?? for good?? Lord heard me...
[11:33] {Threei}  you can look now, Ron
[11:33] {RonS} ...golf clap...
[11:33] {RonS} :D
[11:39] {dino} out chk .39, +.64
[11:43] {Threei}  http://photography.realitytrader.com/2011/09/few-cute-seals.html
[11:44] {larisa} last one is funny :)
[11:45] {Threei}  one before, I like too
[11:45] {Threei}  he yawns and delicately covers his mouth
[11:46] {Threei}  with his fin
[11:53] {Threei}  these slow climb days bore the living daylihgt out of me
[11:54] {dino} me too
[11:55] {Threei}  although looking at SLW, I tend to think it's about to reverse
[11:56] {RonS} appears that way when you compare it to the slv
[11:57] {Threei}  watching if ay setup forms
[11:58] {nemo} tza
[11:59] {nemo} think spy might have one more push to the .60 area
[12:03] {Threei} Short Setup: SLW  40 break
[12:03] {Threei}  if stays under .10
[12:13] {ese} outta here cya tomorrow...still L thc
[12:19] {nemo} think we get a big run if spy breaks .60
[12:25] {nemo} pennant forming on spy, wedge on iwm, think we head north
[12:27] {dino}  feels up
[12:27] {nemo} question is, do they flush first
[12:28] {Threei}  no go SLW
[12:33] {Threei}  if you wanted to draw the chart of the least favorable day for our trading style, you couldn't come up with more perfect one than today's
[12:33] {nemo} here comes the run
[12:36] {nemo} 120.50 next target
[12:39] {dino}  1204 gap from thurs close
[12:41] {dino} back in 30
[12:41] {nemo} retracement confluence between most recent swing low and the 2009 bottom
[12:53] {Z} .
[12:53] {nemo} stop yelling
[13:35] {RonS} so, my daughter reports from shanghai that the chinese love seeing blue eyed little people
[13:36] {Threei}  I heard they stare
[13:38] {RonS} my next door blonde neighbor was studying in china...learned madarin...got in elevator...someone said...do you think he is swedish or russian?
[13:38] {Threei}  apparently blondes come only from those two nations
[13:39] {RonS} which are really the same bloodline...
[13:39] {dino}  sm l fran .99
[13:40] {RonS} his name is cornish so same bloodline too...
[13:46] {nemo} .60 weekly pivot for spy
[13:46] {RonS} saw some show on genghis khan...guy was so prodigious with his multi-hundreds harem that 10% of chinese carry his genetic markers
[13:47] {RonS} if true, quite amazing...
[13:47] {Threei}  lol
[13:50] {nemo} some warlord from Ireland was the same way
[13:51] {nemo} wow wlt dropped
[13:54] {dino} out fran .59, +.60
[13:55] {Threei}  nice
[13:55] {dino} ty
[13:57] {RonS} somehow i think a harem of irish women would be a nightmare...
[13:57] {nemo} speaking of Chinese, the character for trouble is two women under the same roof
[13:57] {nemo} beige book might give us the impetus to run to .120.50
[13:58] {RonS} got the mibbet boot but am back
[13:59] {RonS} out fran .10 to .80 +.70  thanks dino
[14:00] {Threei}  *(US) FED'S BEIGE BOOK: ONLY MODEST GROWTH IN SOME REGIONS
[14:00] {Threei}  shrug
[14:00] {Threei}  what a revelation
[14:00] {nemo} bad news is good news
[14:01] {Z} the new paradigm
[14:01] {dino} wtg ron
[14:05] {nemo} 120.50 next stop
[14:05] {Threei}  *(IT) ITALIAN SENATE GAINS SUFFICIENT VOTES IN FAVOR OF 54B IN AUSTERITY MEASURES/CONFIDENCE VOTE
[14:23] {Threei} Long Setup:  TZA  43 break
[14:23] {Threei}  if stays above .85
[14:25] {Threei}  nah
[14:25] {Threei}  why did I bother to wake up today?
[14:25] {nemo} spy hit's trend line  soon
[14:30] {dino} 2219 filled
[14:35] {nemo} jeez...I should have just held my premarket buy in TNA
[14:35] {Threei}  no kidding
[14:35] {Threei}  all day climb
[14:36] {nemo} should climb tomorrow, then sell off on Friday a bit
[14:41] {nemo} flyer on GDX over .00?
[14:46] {Threei}  flyer?
[14:47] {nemo} yeah, took it at .00
[14:47] {nemo} decent setup, not expecting much velocity
[14:47] {nemo} stop is .94
[14:48] {nemo} 1:1
[14:49] {nemo} well, 1:1.4
[14:49] {nemo} 1.9?
[14:49] {nemo} 1.8?
[14:49] {nemo} oy vay
[14:49] {Threei}  lol
[14:49] {nemo} where's Magoo, he was good at math
[14:50] {dino} 11493 dji gap
[15:04] {nemo} wtf...wlt
[15:05] {dino} takeove5r rumors, played earlier
[15:06] {nemo} yeah, that drop was fast
[15:06] {nemo} tza
[15:06] {nemo} sorry
[15:06] {RonS} wlt... is not aware of any corporate developments to account for this activity
[15:06] {RonS} responding to a request from the Investment Industry Regulatory Organization of Canada on behalf of the Toronto Stock Exchange following recent trading activity. Walter Energy
[15:07] {RonS} i cannot short...dammit
[15:07] {dino} rumors  barrons, real$
[15:11] {Threei}  this has to be it
[15:11] {Threei}  taking TZA here
[15:12] {Threei}  ,80 break
[15:12] {RonS} pcx s .10
[15:12] {Threei}  stop under .65
[15:12] {Threei}  target 45.40
[15:12] {Threei}  43.40
[15:13] {nemo} right at spy trendline now
[15:14] {nemo} i took tna .80
[15:15] {Threei}  what the deuce
[15:15] {nemo} I think it bounces off it's trend line
[15:15] {nemo} I wanted .78, but didn't get it
[15:20] {nemo} 1:1
[15:20] {Threei}  I give up
[15:20] {nemo} that was flossing with barbed wire
[15:21] {Threei}  this day is hopeless
[15:21] {nemo} Well, you see the trend you were betting against
[15:21] {Threei}  I see this trend breaking
[15:21] {Threei}  look at SPY
[15:21] {Threei}  don't twell me it was not a valid setup
[15:22] {nemo} setup yes, but it's been bouncing up off of support all day
[15:23] {nemo} out balance
[15:24] {dino} and don't call him late for dinner
[15:24] {nemo} especially if bacon is involved
[15:27] {dino} of course bacon is involved, we are talking about you
[15:27] {RonS} out pcs +.11
[15:27] {RonS} pcx
[15:28] {nemo} IRAQ SETS KIRKUK OIL PRICE TO U.S. AT PREMIUM OF 10 CENTS/BBL, TO EUROPE AT DISCOUNT OF $1.45/BBL: Bberg
[15:28] {Threei}  that's right
[15:28] {Threei}  thanks for your invasion
[15:28] {Threei}  so long suckers
[15:29] {nemo} took .81 tna
[15:29] {nemo} 1:1
[15:30] {nemo} iwm not following at the moment, stop at b/e
[15:35] {RonS} wow, 3i better hope that guy doesn't make it in...
[15:36] {Threei}  ?
[15:36] {nemo} caskets?
[15:36] {RonS} permutations of mispellings are infinite
[15:36] {Threei}  oh
[15:36] {Threei}  lol
[15:36] {Threei}  there goes my TZA
[15:37] {nemo} yeah, bull flag
[15:37] {Threei}  and that same SPY trend break I saw
[15:37] {Threei}  rinse by a few cents
[15:37] {nemo} yep, but you notice, it hit the trendline and then spent a couple of minutes retracing
[15:37] {Threei}  so, like I said.. valid setup, just not my day
[15:37] {Threei}  ah come on
[15:37] {nemo} then dropped like a prom dress
[15:37] {Threei}  don't overanalyze it
[15:37] {Threei}  it's simply a case of things not being exact
[15:38] {nemo} I had the trendline drawn in, that's what happened
[15:38] {Threei}  and on some days you hit a cluster on non-exactness
[15:38] {nemo} I understand, just given such a strong tight trend...
[15:40] {nemo} I was actually playing it off of spy, because IWM has been a very good doggy today
[15:40] {nemo} followed almost perfectly until that last trade of mine
[15:41] {RonS} wow, wlt recovered...
[15:41] {nemo} yeah if you can handle the spread.......Dino
[15:47] {nemo} market pulling a carbon copy of yesterday
[15:48] {RonS} anyone under 40 has not seen one...
[15:48] {nemo} not seen what?
[15:49] {RonS} carbon copy
[15:49] {nemo} ahhhh, good point
[15:49] {nemo} o.k. a perfect scan of yesterday
[15:49] {RonS} lol...perfect
[15:49] {nemo} and don't forget....
[15:49] {nemo} the mimeograph
[15:50] {Threei}  so, what do those under 40 think CC means on e-mail interface?
[15:50] {nemo} I never asked
[15:51] {RonS} wife asks high school girl to "get me a xerox of this"...she says what is that?
[15:51] {Z} carbon copy
[15:51] {Z} what's the prize?
[15:51] {Threei}  just woke up Z?? :)
[15:51] {Threei}  scroll up rthe conversation :)
[15:51] {Z} yea guess so
[15:51] {nemo} Les jr.
[15:52] {Threei}  can't blame you really
[15:52] {Z} been a sleeper of a day
[15:53] {Z} eat your wheaties in the morning three :)
[15:55] {Z} breakfast of champions :)
[15:56] {nemo} tomorrow should be interesting...jobless claims, inflation, and trade reports pre-market
[15:56] {Threei}  sorry... bacon it is
[15:56] {Threei}  champions are free to eat whatever they please
[15:57] {dino} wlt, see that nemo. had to go to bus stop, so next 10 months 3:30 to 4:00 nit really here
[15:57] {nemo} just commenting on it's move and how it's your kinda' stock
[15:58] {dino} understand, will be watching it tomorrow
[15:58] {Z} take it easy, see u all tomorrow
[15:58] {dino} nit=not above
[15:58] {nemo} see if they run spy here to .50s
[15:58] {Threei}  thank you all
[15:58] {Threei}  have a good evening
[15:58] {nemo} hasta manana
[15:58] {Threei}  see you tomorrow
[15:58] {dino} well, as patience would say, ending day all cash
[15:59] {dino} thx all for ideas, good time
[16:00] {larisa} bye :)

Sep 06 2011

That was quite an eventful day with a lot of trades, and nicely profitable. Read through the log to track it all, and there are few highlights to show. 3 of them - so you can see how busy it has been!

This is a quick update to a video on SPY daily chart from Aug 19 to show where we are and what levels and developments to watch as significant. Posted first thing in the morning.

Had another nice play soon after opening, read the log from 10:07 to 10:18 for a somewhat unusual way to control the risk:

Finally, Catch of the Day is this nice FCX reversal after early morning bounce, and this was the first play for us:

Session Time: Tue Sep 06 00:00:01 2011
[08:43] {Threei}  http://www.facebook.com/photo.php?v=130130730419211
[08:50] {dino} gm all
[08:50] {Threei}  dino :)
[08:54] {Z} gm :)
[08:55] {Threei}  Z :)
[09:11] {Threei}  guys, does this link open fine?
[09:11] {Threei}  http://www.facebook.com/photo.php?v=130130730419211
[09:13] {Z} says content unavailable for me
[09:13] {Threei}  huh
[09:14] {Threei}  maybe it's for facebook users only
[09:16] {Threei}  try this instead
[09:16] {Threei}  http://tradinglog.realitytrader.com/2011/09/sep-06-2011.html
[09:17] {RonS} gm...opened just fine for me
[09:18] {Threei}  ty Ron
[09:18] {Z} that one worked threei
[09:18] {Threei}  cool
[09:20] {Threei}  previous video, of which this one is continuation, is available at http://tradinglog.realitytrader.com/2011/08/aug-19-2011.html
[09:26] {Threei}  ok, if you viwed this video you know what levels are critical,
[09:26] {larisa} gm :)
[09:26] {Threei}  larisa :)
[09:26] {Threei}  and as for the opening, well, we will definitely skip first minutes, volatility will be a killer
[09:27] {Threei}  then will ry to determine what comes first, bounce or consolidation-breakdown
[09:27] {Threei}  and play accordingly
[09:27] {nemo} slw short on open...hehehehhe
[09:27] {Threei}  overall, this morning is one of those when you have to remember about pilots
[09:27] {Threei}  lol
[09:27] {Threei}  ythere are old pilots...there bold pilots... there are no old bold pilots
[09:27] {nemo} faz has pulled back
[09:28] {nemo} or blind ones
[09:28] {Threei}  I have a joke about those... but Ron is going to strangle me if I tell it
[09:31] {dino} gaps ndx 2044, s/p 1120
[09:32] {Threei}  if you watch FCX just now, you could see why I want to skip these first minutes
[09:32] {Threei}  30 cents teleportation both ways faster than you could blink
[09:34] {Threei}  put RIMM on your screen
[09:34] {Threei}  looking for short entry
[09:35] {dino} meli sm l ave .21
[09:35] {Threei} Short Setup: RIMM  .10 break
[09:37] {Threei}  if stays under .25
[09:37] {Threei}  not a scalp
[09:37] {Threei}  should be capable of much more
[09:38] {ese} morning
[09:38] {Threei}  ese :)
[09:39] {dino} joyg sm l .53
[09:39] {ese} how many times do you think the media can panic the market.....
[09:39] {dino} 1000x
[09:39] {Threei}  let's trail to .21
[09:39] {ese} appears that way
[09:39] {Threei}  media?
[09:39] {Threei}  this is Europe falling apart
[09:41] {nemo} fcx
[09:43] {Threei}  .short fcx 44 break
[09:43] {Threei} Short Setup: FCX  44 break
[09:43] {Threei}  if stays under .10 of course
[09:43] {Threei}  target .60
[09:44] {Threei}  out RIMM
[09:46] {ese} nice dino......
[09:46] {dino} out joyg .22, +.69
[09:46] {Threei}  wtg
[09:46] {ese} still goin
[09:46] {dino} untrusting
[09:47] {Threei}  die already FCX
[09:47] {pragmatic} FCX and SLW in some kind of indecision. Flat chart
[09:48] {pragmatic} are there any numbers coming? or they are waiting for SPY's direction ?
[09:48] {nemo} ISM 10:00 am
[09:48] {RonS} non-mfg ism in 11 min
[09:49] {Threei}  US) Preview: Aug ISM Non-Manufacturing Index due out at 10:00ET (14:00GMT)**Consensus expectation: 51.0e v 52.7 prior
[09:49] {ese} dino do you have a screen to find those gap fills
[09:49] {dino} just always watching them
[09:49] {Threei}  (GE) Germany Junior Econ Min: There will be no eurobonds under the current government
[09:49] {ese} tks
[09:49] {dino} have a rotating 30 that i watch/play
[09:50] {pragmatic} RIMM double bottom ?
[09:51] {Threei}  doesn't look right to me
[09:51] {Threei}  FCX 1:1
[09:51] {Threei}  1:2
[09:52] {Threei}  1:3
[09:52] {Z} nice one threei :)
[09:52] {dino} gj
[09:52] {Threei}  ty
[09:53] {Threei}  (IT) Italy Govt will call for a confidence vote with regards to the austerity package
[09:53] {Threei}  (UK) UK Chancellor Osborne: UK is not immune to the situation in the euro zone; UK will not participate in further euro zone fiscal integration
[09:53] {nemo} one more nail in the euro coffin
[09:54] {Threei}  it's undead
[09:54] {Threei}  kind of dead but still walking, sucking blood
[09:55] {Threei}  wooden stake through the heart should do
[09:55] {dino} vampire-like
[09:55] {dino} need vad the impaler
[09:56] {Threei}  lol
[09:56] {nemo} I'll take Kate Beckinsale myself
[09:56] {dino} ditto
[09:56] {nemo} not sharing
[09:56] {Threei}  so many beautiful countries, getting suffocated under this dead weight
[09:57] {dino} holding well, tzoo, plcm, chk, gpor, csh, cyou, ovti (friday too)
[09:57] {Threei}  RIMM was a fouble bottom
[09:58] {Threei}  didn't like it then, and don't like it now, wouldn't play it
[09:58] {pragmatic} I thought you are friends with RIMM
[09:58] {Threei}  well, it's a fickle friendship
[09:58] {Threei}  I would say, case by case friendship
[09:59] {pragmatic} hmm
[09:59] {Threei}  it stopped me out this morning, I am suspicious of it
[09:59] {pragmatic} don't mention it to RIMM though, it might be disappointed
[09:59] {Threei}  FCX on the other hand...
[09:59] {Threei}  still have 1/4 for that .60
[09:59] {Threei}  with b/e stop
[10:00] {dino} 07 all green
[10:00] {Threei}  *(US) AUG ISM NON-MANUFACTURING COMPOSITE: 53.3 V 51.0E
[10:00] {ese} LINTC .24
[10:00] {Threei}  (GR) Slovakia Fin Min: Any sign that Greece reforms are lagging are cause for concern
[10:00] {Threei}  lagging? lol
[10:01] {Threei}  absent, call it a spade
[10:02] {Threei}  target hit
[10:03] {Threei}  out FCX in full
[10:04] {ese} good one chief......
[10:04] {Threei}  ty
[10:04] {Threei}  I have my moments... :)
[10:05] {dino} csh sm l .11
[10:05] {Threei}  I am doubly careful this morning
[10:05] {Threei}  have to say, bounce is very anemic so far
[10:06] {Threei}  for such substantial gap down, trading is quite subdued and bounce doesn't look enthusiastic
[10:06] {Threei}  I suspect we are to see a bout of selling soon
[10:07] {Threei} Long Setup:  TZA  44 break
[10:07] {Threei}  stop under .85
[10:07] {nemo} ?
[10:07] {nemo} 50 break?
[10:07] {Threei}  50... grr
[10:07] {ese} out 1/2 intc .32 +.07
[10:07] {ese} I see signs of market not buying media negitvety hype
[10:07] {ese} out intc balance even
[10:07] {ese} .24 +/-.00
[10:08] {Threei}  target about 50.70
[10:08] {Threei}  1:1
[10:08] {Threei}  stop to .95
[10:09] {Threei}  balance stopped
[10:10] {dino} meli stopped
[10:10] {_thomcbell} Vad - i dont understand the TZA trade
[10:10] {Threei}  looking for another entry
[10:10] {Threei} Long Setup:  TZA  50 break again
[10:11] {Threei}  same stop, under .85
[10:11] {Threei}  not a scalp again
[10:11] {Threei}  trying to nail that big move
[10:11] {Threei}  1:1
[10:11] {Threei}  1:2
[10:11] {nemo} .75 should be target area
[10:12] {Threei}  :)
[10:12] {Threei}  1:3
[10:12] {Threei}  last piece if for the .70 target
[10:13] {Threei}  1:4
[10:13] {Threei}  direct hit
[10:13] {Threei}  can I go home?
[10:13] {nemo} nfw
[10:13] {Threei}  sigh
[10:14] {Threei}  nemo is as always, succinct and rude
[10:14] {Threei}  just as we come to know and love him
[10:14] {pragmatic} congrat on TZA. Beautiful play
[10:15] {_thomcbell} what was the setup Vad
[10:15] {Threei}  hmmm
[10:15] {Threei}  I can qualify it in tertospect, but that would be a lie
[10:16] {Threei}  what it essentially is:
[10:16] {Threei}  strong feeling of market reversal coming,
[10:16] {Threei}  watching TZA for a micro-resistance to break,
[10:16] {nemo} yeah, and after that spike below the BBs everything else was inside
[10:16] {Threei}  where 50 was a cool nice thing to trigger
[10:17] {Threei}  yes, bujt hinestly, I see it in retrospect only
[10:17] {Threei}  didn't pay atention to it at the time of the call
[10:17] {Threei}  you can see this from the way I played it
[10:17] {Threei}  twice,
[10:17] {Threei}  first one with partial and b/e stop,
[10:17] {Threei}  retrying it again
[10:17] {Threei}  kind of:
[10:18] {Threei}  I believe this is what is going to happen, and I want to utilizxe this,
[10:18] {_thomcbell} ok got it
[10:18] {Threei}  but I am a trader first and foremost,
[10:18] {nemo} on the retry you also had higher lows
[10:18] {Threei}  and as a tader, my first and overriding objective is...
[10:18] {Threei}  what?
[10:18] {_thomcbell} risk
[10:18] {nemo} on the second try
[10:18] {Threei}  :)
[10:18] {Threei}  risk control
[10:24] {Threei}  OK, everyone can see this one please?
[10:24] {Threei}  http://www.facebook.com/photo.php?fbid=256445007723515&set=a.237133656321317.63196.235739863127363&type=1
[10:26] {_jonnyquesada} wow...congrats
[10:27] {ese} good trade
[10:27] {Threei}  :)
[10:28] {Threei}  nemo... are we in to repeat the performance of the fall of 2008? :)
[10:29] {nemo} oh yeah
[10:29] {dino} half way thru it, imo, dax -30% in august alone
[10:30] {nemo} I think this goes until the Euro collapses
[10:30] {Threei}  quite possibly...
[10:30] {dino} comes down to default or monitizing
[10:30] {Threei}  remembering how we played that fall to perfection, I want to repeat that
[10:31] {Threei}  to have a perfect record of killing the market during turmoil times
[10:31] {nemo} yeah, you laughed all the way through the minefield
[10:31] {nemo} I love the smell of limit down in the morning....
[10:31] {Threei}  dino, yes... but monetizing in Europe is quite complicated ting to undertake,
[10:31] {Threei}  political divides won't allow to do it easily
[10:32] {Threei}  even in US it's not easy anymore
[10:32] {Threei}  and US cohesiveness is way stronger
[10:32] {nemo} the markets will when bonds collapse, they'll have no choice
[10:32] {Threei}  hmmm
[10:32] {Threei}  look at FCX
[10:33] {dino} but, 3i, w/o out monitization, most of european banks are dead
[10:33] {Threei}  that .60 was a great secondary entry
[10:33] {Threei}  yes... and that's what needs to happen
[10:33] {pragmatic} X ss .50 ?
[10:33] {Threei}  US banks would have been dead, and it would be better if they let them die back then
[10:33] {Threei}  no, X
[10:34] {Threei}  or rather:
[10:34] {nemo} fcx might be a long here
[10:34] {Threei}  risk is higher than acceptable on this play
[10:34] {pragmatic} a7 .60 ?
[10:34] {Threei}  .60 is more like it, yes
[10:34] {Threei}  if bounces in there and stalls
[10:35] {pragmatic} yup, look like it found a support at 49-50
[10:35] {Threei}  watch SPY
[10:36] {Threei}  don't pay X as a standaloine stock
[10:36] {pragmatic} ok
[10:36] {nemo} fcx, this low important level
[10:37] {Threei}  mystery for me:
[10:37] {nemo} hourly chart to 26th
[10:37] {Threei}  3 people register for a trial over the weekend, trading day comes - they never even try to connect
[10:37] {Threei}  why people do that, I'll never understand
[10:38] {nemo} blew up their trading accounts in the futures and fx markets
[10:38] {Threei}  I mean never trying to connect the room part
[10:38] {nemo} yeah, they committed suicide
[10:38] {Threei}  why do you apply for a trial if you don't intend to use it
[10:39] {nemo} short .03
[10:39] {Threei}  FCX?
[10:39] {nemo} if it drops 43, gonna be nice
[10:39] {nemo} yep
[10:39] {nemo} keep flashing bid at .00
[10:39] {nemo} but pulling it
[10:39] {Threei}  canadian dollar is my favorite thing this fine morning
[10:40] {nemo} out
[10:40] {nemo} watch...rinse coming
[10:40] {Threei}  quite possible...
[10:41] {Threei} Short Setup: FCX  43 break
[10:41] {nemo} you bastid
[10:41] {Threei}  if stays under .10
[10:41] {nemo} spike was .15
[10:41] {Threei}  no... I am just not a fan of odd triggers
[10:41] {Threei}  like .03
[10:41] {dino} meli sm l .60
[10:41] {nemo} yeah, but I figure it'll be a jailbreak below 43, might not be able to get shares
[10:42] {dino} tkr sm l .90
[10:42] {Threei}  I understand, but going for aggressive entry would be more sensible around .10
[10:42] {nemo} yes, spy looking long here
[10:42] {dino} ovti sm l .89
[10:43] {Threei}  invalidated, but on a radar for new consolidation
[10:43] {Threei}  no, invalidated totally
[10:43] {nemo} spy to 114.90
[10:51] {Threei}  look how things narroed down
[10:52] {Threei}  after such huge gap, no big action, no buyers jumping in?
[10:52] {Threei}  I say seloff is not over
[10:57] {dino} brk/b sm l .90
[10:57] {RonS} have a finviz page open screening for -5%...started at 6 pages...now 15...
[10:58] {RonS} 16
[10:58] {Threei} Short Setup: FCX  .40 break if stays under .50
[10:58] {Threei}  interesting Ron... increasing while SPY bounces?
[10:58] {nemo} nice volume doji
[10:58] {Threei}  or it's delayed?
[10:58] {RonS} yep
[10:59] {RonS} well it is delayed
[10:59] {nemo} nex test for spy around .20 area
[10:59] {RonS} but still it did increase on the initial run
[11:02] {RonS} so, ubs detailed how the eur needs to go away and stock hit -12%
[11:02] {ese} L intc .25
[11:03] {RonS} -5% now 18 pages
[11:03] {RonS} 19
[11:04] {Threei}  violense time?
06[11:04] * Threei hits fcx over the head with 2x4
[11:04] {ese} lol
[11:04] {Threei}  hey, it works
[11:04] {RonS} eur lod
[11:04] {ese} I know.....thats the funny thing
[11:04] {Threei}  hehe
[11:05] {Threei}  well, as old saying goes...
[11:05] {Threei}  kind word and a gun is way more effective than just kind word
[11:05] {Threei}  1:1
[11:06] {_thomcbell} Al Capone in Untouchables?
[11:07] {Threei}  not sure about origin
[11:09] {Threei}  yup, you are right
[11:09] {Threei}  google says so
[11:10] {Threei} Short Setup: RIMM  30 break
[11:10] {Threei}  let's test our frienship once again
[11:11] {ese} L tna .92
[11:11] {RonS} lol...German foreign minister says we have a debt crisis, not a crisis of Euro
[11:11] {Threei}  lol
[11:11] {ese} sm
[11:11] {nemo} frickin' moron
[11:12] {Threei}  EUR/USD Drops below $1.400 for the first time since July 13
[11:12] {ese} you mean "more off"
[11:12] {ese} not on
[11:15] {Threei}  nope, still not friends
[11:16] {ese} out tna .30 +.38
[11:16] {Threei}  wtg
[11:16] {Threei}  very nice
[11:16] {dino} out meli .18, +.58
[11:16] {dino} out brk/b .27, +.37
[11:17] {ese} tks
[11:17] {dino} out tkr .23, +.34
[11:17] {Threei}  lol... beautiful tyriple play
[11:17] {dino} out csh .42, +.31
[11:17] {Threei}  quadruple
[11:18] {dino} lucky
[11:18] {Threei}  someone stop dino, he won't leave any money in the market for the rest of us
[11:18] {ese} whoa dino.....slow down buddy slow down!!!!!!!!
[11:18] {dino} too soon on all
[11:18] {ese} nice
[11:18] {Threei}  oh come on
[11:18] {Threei}  "too soon..."
[11:19] {Threei}  leave some money in the pit, otherwise no one will come out to play with you tomorrow
[11:19] {ese} exactly.......thats what i say
[11:23] {Threei}  while no clear play aroundf, let me entertain you a little
[11:24] {Threei}  http://photography.realitytrader.com/2011/09/flamingo-with-difference.html
[11:24] {Threei}  and
[11:24] {Threei}  http://photography.realitytrader.com/2011/09/on-another-visit-to-church-and-state.html
[11:25] {RonS} terrific falcon shots 3i
[11:25] {Threei}  ty
[11:26] {Threei}  hard to even keep this thing in the frame, so fast it moves
[11:26] {Threei}  wow SLW
[11:27] {dino} tzoo sm l .65
[11:31] {Threei}  SPY forms break... I am not really keen on playing it
[11:31] {Threei}  bscking off until something more definite appears
[11:31] {Threei}  backing
[11:40] {ese} out intc 1/2 .32 +.07
[11:46] {ese} out intc balance .30 +.05
[11:46] {ese} am outta here.......first day of school....cya tomorrow
[11:47] {dino} cya
[11:48] {Threei}  take care ese
[11:52] {Threei}  http://www.businessinsider.com/josef-ackermann-euro-banks-speech-frankfurt-2011-9
[11:58] {dino} pretty much what we've been saying
[11:59] {Threei}  takes a while for them to admit it eh
[11:59] {Threei}  and notice how all of sudden and with no any kind of connection stub at HFT is thrown in
[11:59] {Threei}  heh
[12:01] {dino} yeah, lot of good banning shorts did
[12:01] {dino} idiots
[12:02] {nemo} they need a demon
[12:02] {dino} correct. and it is always the evil speculators.
[12:02] {nemo} he's from the Black Forest area
[12:05] {nemo} tna looking long here off of spy
[12:06] {nemo} DF me didn't want to play the break at lunch
[12:23] {dino}  out tzoo .11, +.46
[12:59] {_thomcbell} check
[13:02] {dino}  .
[13:03] {Threei} Short Setup: X  .80 break
[13:09] {Threei}  let's scratch it
[13:09] {Threei}  SPY is not helping
[13:09] {Threei}  out .82
[13:09] {Threei}  minimal damage
[13:11] {dino} plcm sm l .95
[13:13] {Threei}  good scratch
[13:33] {Threei}  VRSN
[13:36] {RonS} cancelled out of citi conference w/ no reason
[13:36] {Threei}  yeah
[13:49] {dino} idcc sm l .98
[13:49] {nemo} this is incredible
[13:49] {dino} what?
[13:49] {Threei}  what is?
[13:49] {nemo} this much of a rcovery
[13:50] {dino} classic 300 pt range day
[13:50] {larisa} when we were -250, i wanted to say "positive" close? but  did not want to look like an idiot :)
[13:50] {larisa} may be not to late :)
[13:50] {Threei}  great.. leave me alone feel and look like one
[13:51] {larisa} ok :)
[13:51] {Threei}  sure... NOW she agrees with me
[13:54] {dino} brk/b sm l .20
[14:08] {Threei} Long Setup:  X  .20 break
[14:10] {dino} 07 green
[14:11] {dino} cat, joyg green
[14:12] {dino} out plcm .32, +.37
[14:12] {Threei}  wtg
[14:14] {dino} ty
[14:15] {dino} larisa may be right
[14:15] {Threei}  1:1
[14:17] {dino} out idcc .28, +.30
[14:25] {Threei}  (GE) Bundesbank's Dombret: Wary of giving more power or funding to the IMF, would not be in favor of expanding the IMF's reach
[14:26] {Threei}  1:2
[14:26] {Threei}  I am out in full
[14:26] {Threei}  not hanging out for more, this long play was kind of against my liking as it is
[14:29] {dino} kind of the theme for me today
[14:35] {_thomcbell} iwm failed right at Friday low
[14:37] {dino} chk sm l .75
[14:43] {Threei}  so, little illustrations to the theme of jobs leaving US and whether they even come back
[14:44] {Threei}  I am at the electronic store, asking about optical audio cable
[14:44] {Threei}  "sure, here it is" - $24.99
[14:44] {Threei}  say what?
[14:44] {Threei}  yeah, this is sophisticated cable, not a cheap thing to make
[14:44] {Threei}  ok, thank you
[14:44] {Threei}  coming back home, going to ebay
[14:45] {Threei}  $.99 +.25 shipment
[14:45] {Threei}  from China, where else
[14:45] {Threei}  $1.24
[14:45] {Threei}  will I pay 24.99 out of patriotism?
[14:46] {Threei}  and what kind of patriotism would that be, if I asm absolutely sure that the one in the store is produced in that same china, and my money will go to supply chain, not to domestic manufacturer
[14:48] {larisa} same thing  with window shades.. $2500 to cover 3 windows/doors with beautiful shades.. $200 to do the same using internet
[14:49] {Threei}  oh boy
[14:49] {Threei}  globalization my a**
[14:51] {Threei}  (GR) Dutch Fin Min de Jager: Still no deal on Greek collateral for Finland; Greece needs to meet its targets to receive 2nd package
[14:51] {Threei}  - Still very concerned about Greek pledges in regards to the current aid program.
[14:51] {Threei}  - The Greek program is not on track currently, Troika needs to decide whether there is full compliance. Without compliance, Greece will not get next aid tranche.
[14:51] {Threei}  - Collateral solution will only be implemented if all EU nations agree.
[14:51] {Threei}  - Need enforceable EU rules with automatic sanctions.
[14:53] {Threei}  (CH) House Minority Whip Hoyer (D-MD): China is a currency manipulator
[14:53] {Threei}  China: and you are a House Minority Whip Hoyer (D-MD)
[14:54] {dino} as if usa doesn't do same, or japan, swiss, etc
[14:55] {Threei}  well, not through direct peg
[14:55] {dino} what do you call their govt's selling to lower their currency values
[14:56] {dino} happens every week
[14:56] {Threei}  manipulation
[14:56] {Threei}  lol
[14:56] {Threei}  but they work to manipulate
[14:56] {Threei}  while china doesn't want to do any work, they just say "our currency worth this much, period"
[14:57] {dino} china pegged to dollar
[14:57] {Threei}  right
[15:20] {dino} prx
[15:22] {dino} sm l .75
[15:23] {dino} out .16, +.41
[15:23] {dino} damn
[15:35] {Threei}  looking for one last play
[15:35] {Threei}  I guess green close is not on menu today eh?
[15:35] {larisa} sigh
[15:35] {Threei}  and larisa... may I consider this an overnight panic?
[15:35] {Threei}  or over-weekend?
[15:35] {larisa} no
[15:36] {Threei}  ok...
[15:36] {patience} i don't see capitulation...don't understand why not...but there you go
[15:40] {Threei}  just don't tale it as positive sign for the market
[15:41] {Threei}  most likely absence of capitulation means more selling ahead
[15:41] {patience} nope, i'm in cash waiting...did quite well this morning.....
[15:46] {Threei} Long Setup:  TZAS  .50 break
[15:46] {Threei}  last scalp attempt
[15:46] {Threei}  if holding above .35
[15:46] {Threei}  OK... invalidated
[15:47] {Threei}  TZA that was
[15:48] {nemo} I guess the question is do we end up on the day's highs
[15:49] {larisa} positive or noFing ! :)
[15:50] {Threei}  well... then I guess we know the outcome :)
[15:51] {Threei}  134 points in 10 min? I am willing to bet against that
[15:51] {Threei}  stranger things hapened of course but nonetheless
[15:51] {nemo} .18 to the high on the spy
[15:56] {Threei}  (PO) Portgual Finance Minister Gaspar: notes country's fiscal situation is "grave"- Hiking tax rates is a necessity.
[15:56] {Threei}  (EU) IMF agrees to a significantly lower initial estimate for EU banking sector capital needs
[15:56] {Threei}  - Private sector expected to meet bank recapitalization needs.
[15:56] {Threei}  - No plans for public support for banks beyond the baiout funds for Greece/Ireland/Portugal.
[16:00] {Threei}  Ok guys
[16:00] {Threei}  hjave a great evening, we are in for an interesting week
[16:00] {Threei}  see you tomorrow
[16:01] {patience} ty vad, excellent day
[16:02] {larisa} bye :)

Sep 02 2011

Great day finishing great week. 5 calls, 4 wins. Got the theme of the week right, which helped structure the majority of the calls. Check out the latest Facebook post for a nice illustration of the volume configuration confirming the price direction.


http://on.fb.me/qN2a8d

Session Time: Fri Sep 02 00:00:00 2011
[08:15] {nemo} Raven...I have a book on your family
[08:24] {Threei}  yawn...
[08:24] {nemo} yeah
[08:24] {Threei}  hey, I think I am closer to bragging rights on that bearish post
[08:24] {nemo} how's your shoulder?
[08:24] {Threei}  so far so good
[08:24] {Threei}  I train it well, you know
[08:28] {Threei}  job numbers are coming
[08:29] {nemo} yeah...expecting a whipsaw
[08:30] {Threei}  *(US) AUG UNEMPLOYMENT RATE: 9.1% V 9.1%E
[08:30] {Threei}  *(US) AUG CHANGE IN NONFARM PAYROLLS: 0K V 68KE; CHANGE IN PRIVATE PAYROLLS: 17K V 95KE
[08:30] {nemo} oh shit
[08:30] {Threei}  *(US) AUG AVG HOURLY EARNING M/M: -0.1% V +0.2%E; AVG WEEKLY HOURS: 34.2 V 34.3E
[08:31] {Threei}  what on earth was that
[08:31] {Threei}  lol
[08:31] {Threei}  some can'tread
[08:31] {Threei}  or mix buttons
[08:31] {nemo} and just think, it'll be revised downward next week
[08:38] {_thomcbell} Vad you mentioned putting a note together about some decisions you made - would that be in the Log?
[08:39] {nemo} o.k where do we short into this
[08:39] {Threei}  I posted yesterday
[08:39] {Threei}  let me find it
[08:39] {nemo} fine
[08:39] {nemo} I'm going to get a dr...errr...coffee
[08:39] {Raven} Nemo ... book ?
[08:40] {Threei}  [13:23] {Alert} Threei thom, http://www.facebook.com/photo.php?fbid=254030391298310&set=a.237133656321317.63196.235739863127363&type=1
[08:40] {Threei}  can you see it thom?
[08:49] {Threei}  thom?
[08:51] {_thomcbell} yes helpful thanks
[08:51] {Threei}  :)
[08:52] {_thomcbell} Vad did u catch the Arnold Palmer interview?
[08:53] {Threei}  no... where?
[08:54] {_thomcbell} ill send it to you again
[08:55] {Threei}  golpher?
[08:57] {_thomcbell} Samurai Golfer yet
[08:58] {Threei}  got it, ty, will watch later :)
[08:59] {Threei}  I see now why I missed it last time... if you address me durectly, use e-mail vad@
[08:59] {Threei}  info@ I may or may not see, depending on content
[09:00] {Threei}  look how SLW behaves...
[09:18] {dino} gm all
[09:18] {_sednet} gm
[09:18] {larisa} gm :)
[09:18] {Threei}  dino, sednet :)
[09:18] {RonS} gm
[09:18] {Threei}  larisa, ron :)
[09:18] {_zeeee} wow the lower channel line of the current bear flag is 114.20 on SPY....long way down.
[09:19] {Threei}  larisa... this gap qulifies?
[09:19] {Threei}  qualifies
[09:20] {larisa} :)
[09:20] {Threei}  come on, this was a darn good call, made on positive day when there was no clear indications of troubles coming... can a fella get some recognition here?? :)
[09:21] {dino} nope
[09:21] {Threei}  fella can't?
[09:22] {dino} s/p gaps 1176, 1120
[09:22] {_thomcbell} got it from me Vad
[09:22] {Threei}  ty
[09:22] {dino} ndx 2161, 2044
[09:23] {Threei}  just think of it... soon going to be 13 years of trying to impress this gal
[09:25] {Threei}  watching FCX
[09:25] {Threei}  SLW too of course but no clear plan on this one
[09:25] {nemo} short
[09:25] {Threei}  not sure
[09:25] {Threei}  problem is:
[09:26] {Threei}  it doesn't move WITH market anymore,
[09:26] {Threei}  but its moves against the market are inconsistent
[09:26] {Threei}  sometimes they work, sometimes not
[09:26] {Threei}  almost aas if gotta determine a play oln it on case by case basis
[09:27] {Threei}  one notable thing about RIMM is its relative strength
[09:27] {Threei}  merely 20 cents gap down on such huge market gap...
[09:27] {Threei}  opening volatility will be a killer today, skipping first minutes
[09:29] {Threei}  overall, we had a great week, I'll try to stay on conservative side today
[09:32] {Threei} Short Setup: FCX  .40 break
[09:32] {Threei}  half lot
[09:33] {Threei}  stop above .55
[09:33] {Threei}  cover half here
[09:33] {Threei}  stop to .45
[09:34] {Threei}  out in full .18
[09:35] {Threei}  a bit too soon
[09:35] {Threei}  but no regret, things ARE volatile
[09:35] {patience} good morning
[09:35] {Threei}  morning patience
[09:36] {dino} nice
[09:36] {Threei}  just in time to miss first play
[09:37] {Threei}  watching RIMM for bounce scalp
[09:37] {nemo} gap close coming
[09:37] {dino} here comes 1176 gap
[09:37] {nemo} dino...man after my own heart
[09:38] {Threei}  get a room you two
[09:38] {nemo} IWM gap closed
[09:38] {dino} bam!
[09:38] {Threei} Long Setup:  RIMM  .80 break
[09:39] {Threei}  if holsding .70
[09:39] {Threei}  half lot, OK?
[09:39] {nemo} ballsy call
[09:39] {Threei}  let's respect this volatility
[09:39] {Threei}  panic is panic
[09:39] {dino} this isn't panic
[09:40] {larisa}  ty dino :)
[09:40] {Threei}  not yet
[09:40] {Threei}  but it's coming
[09:40] {dino} ;)
[09:41] {dino} -300 i will be adding
[09:41] {dino} -317 preferred
[09:41] {Threei}  so far so good RIMM... recapturing .80 should form the bottom
[09:41] {Threei}  loss of .70 will kill it
[09:41] {Threei}  so... well structured one
[09:41] {nemo} .66 is S2 pivot support
[09:42] {Threei}  OK... let's go RIMM{ we are friends, remember?
[09:42] {Threei}  we had our falling out yesterday but we fixed it
[09:42] {Threei}  1:1
[09:43] {Threei}  1:2
[09:43] {nemo} 31.10 probably
[09:43] {Threei}  RIMM and I, BFF
[09:43] {RonS} rimm .82 to .98  thanks 3i
[09:44] {Threei}  welcome
[09:44] {Threei}  out in full 1:3
[09:45] {Threei}  good call on target nemo
[09:45] {nemo} VWAP
[09:45] {dino} gef sm l .00
[09:46] {Threei}  touched precisely and retreated
[09:46] {Threei}  nice
[09:46] {dino} gj
[09:46] {Threei}  team work
[09:46] {nemo} coincided with support too
[09:46] {Threei}  even though you and larisa miss no chance to bash me
[09:46] {Threei}  but I am kind and forgiving
[09:46] {nemo} pot calling the kettle charred
[09:46] {Threei}  wel, 2x4 is always in my hand
[09:47] {Threei}  b ut it only helps me forgive
[09:47] {dino} sm l oxm .00
[09:47] {nemo} let's see....
[09:47] {nemo} sword
[09:47] {nemo} nah, bokken
[09:47] {dino} whiner
[09:47] {Threei}  SLW, look at this bounce, an d no relation with market whatsoever
[09:47] {nemo} nah, Gek?
[09:47] {nemo} mmmmmhhh...nah
[09:47] {nemo} .40 cal
[09:47] {nemo} hell with it
[09:47] {nemo} 12 guage
[09:48] {nemo} yeah that's it
[09:50] {nemo} slw gdx breaking out
[09:50] {Threei}  40.80 was wroth a try on SLW in retrospect... here, no
[09:50] {nemo} GDX .90 break?
[09:50] {Threei}  that was very decent consolidation and break of JBE type
[09:50] {ese} gm
[09:51] {Threei}  ese :)
[09:51] {Threei}  GDX, no... not liking this break
[09:51] {nemo} doji consolidation
[09:51] {Threei}  one more shallow pullback and retest of the ghigh, then maybe
[09:52] {Threei}  not biting here
[09:52] {Threei}  50/50
[09:52] {dino} oxm to .41
[09:53] {nemo} they're bying it up
[09:53] {nemo} buying
[09:54] {Threei}  hinestly, very much feels like a trap to me
[09:54] {Threei}  honestly too
[09:54] {dino} elvis?
[09:54] {Threei} Short Setup: SLW  .20 break
[09:54] {nemo} that weekly looks strong
[09:55] {Threei}  if stays under .30
[09:55] {Threei}  invalidated
[09:55] {dino} oxm to .44
[09:55] {dino} out .42, +.42
[09:55] {Threei}  nice
[09:55] {Threei}  wtg
[09:56] {dino} ty
[09:56] {dino} plcm ho;ds well ron
[09:56] {dino} holds too
[09:56] {Threei}  SLW valid again
[09:56] {RonS} too soon dino...someone took those easily...want .80
[09:56] {dino} ok
[09:57] {Threei}  in, stop above .30
[09:57] {dino} tzoo filled gap
[09:58] {dino} cat gap filled
[09:58] {Threei}  let's trail to .25
[09:58] {dino} ccsc spike
[09:59] {Threei}  was so close to 1:1. gotta tighten risk
[09:59] {dino} thinny
[10:00] {dino} 07 green
[10:00] {dino} sm l cat .75
[10:00] {Threei}  let's tighten even more
[10:00] {Threei}  .22
[10:00] {Threei}  practically no risk
[10:01] {Threei}  other than some slippage
[10:02] {ese} L cat .00
[10:02] {dino} out cat .05 +.30
[10:02] {Threei}  gj
[10:02] {ese} I took those lol
[10:03] {dino} :D
[10:03] {Threei}  (EU) EU set to approve new tranche for Ireland and Portugal
[10:03] {Threei}  1:1
[10:03] {Threei}  finally
[10:03] {Threei}  took its sweet time
[10:03] {Threei}  1:2
[10:04] {Threei}  - Portugal will receive 11.5B; Ireland will receive 7.5B
[10:04] {Threei}  can you spell "bottomless pit"?
[10:04] {Threei}  1:3
[10:04] {Threei}  out
[10:04] {dino} how much for dino?
[10:04] {Threei}  that's 3 for 3
[10:04] {Threei}  can I go home
[10:04] {dino} gj
[10:04] {Threei}  ty
[10:05] {Threei}  no kidding dino... they'd better give .01% of that to us, at least we wouldn't come back for more
[10:05] {dino} c'mon guys. admit it, you missed me this week
[10:05] {Threei}  we did
[10:05] {Threei}  we just mask it under manly demeanor
[10:06] {patience} totally
[10:06] {Threei}  except larisa and patience
[10:06] {patience} not me
[10:06] {RonS} i did...out oxm .59  +.49
[10:06] {Threei}  and ron
[10:06] {RonS} thanks dino
[10:06] {dino} :)
[10:07] {RonS} look pot
[10:07] {Threei}  I was wrong on GDX
[10:07] {Threei}  it did work after all
[10:07] {dino} out gef .30, +.30, thats 3/3 here
[10:07] {dino} gj ronzo
[10:07] {Threei}  cool... welcome to 3/3 club
[10:07] {ese} L cat .88 avg .94
[10:08] {Threei}  CAT works
[10:09] {Threei}  fantastic team work today
[10:09] {dino} gj
[10:09] {Threei}  {--- happily retires
[10:09] {dino} and i was expecting a boring pre-holiday morning
[10:09] {Threei}  too much happens...
[10:09] {Threei}  a lot of crosscurrents
[10:10] {dino} maybe i need to wear my jerts shirt more often
[10:10] {larisa} and panic buying into closing :)
[10:10] {dino} jets
[10:10] {Threei}  hehe
[10:10] {Threei}  Europe developments overnight were nothing short of frightening
[10:10] {Threei}  and then this dismal jobs report addedd
[10:10] {RonS} j e t s jetsjetsjets...
[10:10] {ese} out cat .37
[10:10] {dino} 07 green
[10:10] {dino} gj
[10:11] {ese} phew....
[10:11] {Threei}  nice one ese
[10:11] {Threei}  gutsy
[10:11] {ese} +.44
[10:11] {dino} the pullbackwas close, huh ese
[10:11] {ese} yup
[10:11] {Threei}  ;look at some data from Europe
[10:11] {Threei}  Key Europe and Peripheral spreads widen in early European tradingPeripheral Europe:
[10:11] {Threei}  - The 10-year Spanish/German Gov't bond spread at approx 300 bps; wider by almost 15bps (highest level since Aug 5th)
[10:11] {Threei}  - The 10-year Italy/German Gov't bond spread at approx 315bps, wider by almost 15bps;( highest level since Aug 8th)
[10:11] {Threei}  - The 10-year Greek/German Gov't bond spread at approx 1,540bps, wider by almost 20bps Core Europe:
[10:12] {Threei}  The 10-year Belgium/German Gov't bond spread at approaching 200bps,wider by almost 10bps
[10:12] {Threei}  - The 10-year French/German Gov't bond spread at approx 76bps, wider by over 3bps and at highest level since Aug 9th Outright Yields
[10:12] {Threei}  - Portugal 10-year gov't yield at 10.30%; higher by over 10bps
[10:12] {Threei}  - Italy 10-year gov't yield at 5.22%; higher by over 5bps
[10:12] {Threei}  (GR) EU/IMF/EU statement on Greece: Confirms that the Troika mission has been temporarily suspended due to technical work on budget
[10:12] {Threei}  - To return to Greece in mid-September
[10:12] {Threei}  ***Note that overnight there were financial press reports that the Troika mission had been suspended for 10 days due to deteriorating budget forecasts.
[10:12] {dino} hookerville
[10:12] {Threei}  Greece Fin Min Venizelos later stated that discussions with the Troika were cordial and denied that talks had been "suspended," claiming that the first phase of mission was complete
[10:13] {ese} ya...pretty much right on the cut line dino with a 1/2 lot....added another 1/2 lot at .88
[10:13] {Threei}  and all this was even before NFP report
[10:13] {Threei}  you'd have to go 66 years back to find jobs report this bad
[10:13] {Threei}  recovery, my a**
[10:14] {Threei}  but no worry, we are about to get a speech
[10:15] {Threei} Long Setup:  RIMM  .05 break
[10:15] {Threei}  if stays above .95
[10:16] {dino} "despite recent setbacks the administration expects growth at increasing rates" obama last night
[10:16] {dino} lol
[10:17] {nemo} .00 is vwap
[10:17] {Threei}  I think he meant they expect at increasing rates
[10:17] {Threei}  expect more, expect faster
[10:17] {dino} i think they expect too much
[10:17] {Threei}  would make for a good slogan
[10:18] {Threei}  expect with us, expecyt like us, expect better than we do
[10:18] {nemo} as they add more regulation (costs) and add FUD to the tax future, exactly where do they expect employment to go?
[10:19] {Threei}  come on already RIMM
[10:19] {Threei}  do something
[10:19] {Threei}  break or invalidate
[10:19] {nemo} doing nothing is doing something
[10:19] {Threei}  these taoists...
[10:21] {dino} worst thing you can do is nothing
[10:21] {Threei}  not when it comes to economy
[10:21] {Threei}  in that case it's the best thing
[10:21] {Threei}  "get out of the way"
[10:21] {dino} lol, was just quoting coolidge
[10:21] {nemo} In many instances I'm glad I did nothing
[10:21] {dino} much better
[10:22] {nemo} It would have been a bitch getting rid of the bodies
[10:22] {Threei}  let the animal spirits work
[10:22] {dino} lol
[10:22] {Threei}  no wrky RIMM
[10:28] {Threei}  action slowed down
[10:34] {dino} re-test of lod coming, imo
[10:37] {Threei}  and ummm, panic?
[10:37] {nemo} Friday close is 50% retracement of this climb, just below that is 117.72 which is yearly pivot on spy
[10:46] {RonS} ...the newest popular catchphrase:  annoyed....guess it is pc version of mad or p.o.'d...am hearing this from every 30 and under i know
[10:47] {RonS} ...all 3 of them...lol
[10:47] {Threei}  lol
[10:47] {nemo} kill them all
[10:47] {Threei}  do they say 'I am like annoyed"?
[10:47] {dino} lod's app
[10:48] {dino} just the west coasters use "like"
[10:48] {RonS} well, daughter was here for two weeks...trying to move w baby, etc...everything was "annoying"
[10:48] {dino} regn?
[10:49] {RonS} ...like is like so '90's...
[10:49] {dino} well ron, babies can be annoying
[10:49] {dino} :D
[10:50] {RonS} actually comment not about the baby but frustration of trying to scheule packer w/ impending hurrican
[10:50] {Threei}  Ecuador Pres: OPEC will not allow drastic decline in the price of oil
[10:51] {Threei}  I have a question to esteemed Ecuador Pres
[10:51] {Threei}  will OPEC allow drastic increase?
[10:51] {Threei}  OPEC's annoying
[10:51] {RonS} get this, son-in-law calls on land line from shanghai using skype...says it costs  cents/minute...amazing
[10:51] {RonS} 2 cents
[10:52] {dino} f opec. if they'd let us drill here we go get rid of opec
[10:52] {dino} cool ron
[10:52] {RonS} omg bumper sticker idea:  O'nnoying...
[10:52] {Threei}  close OPEC, bulldoze UN, and we may be geting somewhere less annoying
[10:52] {dino} roflol
[10:59] {nemo} my uncle was in the NSA...He said having the UN in NY was great...much easier to spy on them
[11:00] {Threei}  I have a better idea
[11:00] {dino} ovti sm l .50
[11:00] {Threei}  n UN{ no need to spy
[11:04] {RonS} ese play?...vhc...
[11:05] {RonS} nope
[11:08] {Threei}  (US) National Hurricane Center (NHC): Katia has regained strength to become a Hurricane; strengthening expected over 48 hours
[11:08] {Threei}  nemo and dino might not survive another one
[11:10] {Threei}  (IR) EU claims the Troika review of Ireland remains on track; aid to be sent in two tranches
[11:10] {Threei}  I have a thought...
[11:11] {Threei}  any chance we would find out the path of delivering that aid?
[11:11] {Threei}  nemo in the ditch with machine gun... ese flags them down with innocent "gimmie a ride folks"...
[11:12] {Threei}  zeee prepares numbered bacnk account in the Caymans
[11:12] {_zeeee} sounds reasonable :)
[11:13] {Threei}  we would use that money to the better purpose I surmise
[11:13] {dino} no doubt
[11:13] {_zeeee} that wouldn't be hard to do  ^^
[11:14] {Threei}  and much more pleasant
[11:14] {Threei}  they'll be on each other throats over that money anyway, and very soon
[11:15] {dino} beware greeks requesting gifts
[11:15] {Threei}  yeah, ese is right guy fir that, he looks very trustworthy
[11:15] {Threei}  just duck in time, ese
[11:16] {Threei}  'cause when nemo opens fire, he enjoys himself too much
[11:16] {Threei}  look at this:
[11:16] {Threei}  (GR) IMF said to oppose collateral deals for the Greek bailout program, warns collateral deals risk denying the IMF senior creditor status - financial press
[11:16] {dino} tzoo sm l .50
[11:17] {Threei}  "just trust us"
[11:24] {nemo} regn
[11:25] {dino} avasin related blindness, roche
[11:26] {Threei}  (US) State Dept issues travel advisory for Sept 11, have yet to identify a specific threat
06[11:27] * Threei cancels trip to the mailbox
[11:27] {dino} dino says no jogging
[11:27] {Threei}  and to broccoli... please
[11:38] {dino} 07 green
[11:46] {dino} esl
[11:47] {nemo} was gonna' say tza drop under .90 and then rebreak, but
[11:47] {RonS} esl...ceo said they are screwed in next 2 q's...technical paraphrase...
[11:48] {dino} thx
[11:54] {RonS} watch list...meli setting up for a breakout and run into its gap
[12:00] {ese} me and guns.........drumsticks maybe
[12:00] {ese} L cat .99
[12:02] {ese} stop .79
[12:06] {ese} out cat .40 +.41
[12:07] {_sednet} nice
[12:07] {_sednet} thx
[12:07] {ese} minus commisions of course
[12:07] {Threei}  lol
[12:10] {nemo} spy showing C&H
[12:10] {nemo} or building it
[12:11] {ese} 1 min chart nemo?
[12:11] {nemo} 3
[12:12] {dino}  gj ese
[12:13] {ese} tks
[12:13] {Threei}  welcome new member with the shortest nick ever
[12:14] {Threei}  thank you Z for making it easy for us to address you :)
[12:14] {Z} lol
[12:14] {Z} simpler the better for me :)
[12:14] {ese} welcome Z
[12:14] {Threei}  believe me, with my typing skills, for me too
[12:14] {Threei}  up to this point, ese was my favorite
[12:14] {Threei}  just 3 letters, and two of them are the same
[12:15] {Z} glad to be here
[12:15] {ese} ya....and the "e" is typed with specific finger of course
[12:16] {Threei}  specfic finger? I type everything with just two
[12:16] {Threei}  when I use my hands that is
[12:16] {Threei}  mostly it's fins
[12:17] {dino} welcome to the jungle z
[12:17] {Threei}  this week I can't type with my knees because of patience... during 10K loop around the lake she made me run, so I can't bend my legs since then
[12:18] {Z} thx dino & ese
[12:19] {patience} it was my second 10k within the day, you did great .... it was the puppy who was tired
[12:21] {dino} impressive
[12:21] {Threei}  you've no idea dino
[12:21] {Threei}  she walks faster than I tun
[12:21] {Threei}  run
[12:22] {dino} tzoo stopped -.35
[12:22] {Threei}  although to be fair, I try to run crawling... doesn't work but I try
[12:28] {dino} tkr sm l .51
[12:40] {ese} L cat .98
[12:40] {RonS} how many lives does it have?
[12:43] {ese} 1 more i think...although may have misjudged the spyders this time
[12:44] {ese} hmmmmmm  lookin a little stronger
[12:49] {Threei}  wow RIMM
[13:02] {ese} out cat .88 -.10
[13:03] {Threei}  good risk control
[13:03] {Threei}  keeping hand on throat of losses
[13:03] {Threei}  and strangling them relentlessly
[13:03] {ese} yup.......from you chief
[13:04] {Threei}  I killed so many losses in their infancy, they unleashed Interpol on me
[13:05] {Threei}  called me serial losses murderer
[13:05] {Z} i like the discipline of risk control that i have seen already in just a few days here...last room i came from the method of risk control was avg. down catching falling knives
[13:05] {Z} not exactly a formula for success
[13:05] {Threei}  ahhh
[13:05] {dino}  tkr stop
[13:06] {Threei}  don't want to bash competitors, but catching falling knives in number 2 reson for trader's failure
[13:06] {Threei}  in = is
[13:07] {Z} or maybe reason 1b...saw many people blow it out there getting massacred on the way down, or up on shorts
[13:07] {Threei}  number 1 is always the same, no matter what trading style... it's not keeping your stops
[13:08] {Z} yep...and the avg. down pie in the sky is a direct function of that, which i could never understand why this individual did not adhere to stops religiously
[13:09] {Threei}  averaging down... I have a little write-up on that
[13:09] {Threei}  lemme find it
[13:09] {Threei}  http://blog.realitytrader.com/2009/06/averaging-down-yea-or-nay.html
[13:09] {Z} and 1 more add quickly became 2, then 3 then 4, then blow-up, all called by the admin.....unbelievable
[13:10] {Threei}  well, read this article... will sdound familiar to you I assume
[13:11] {Z} avg. down is fine in a long term account on investments based on fundamentals, but sheesh to run a 'daytrading' service that way...wow
[13:11] {Z} imo
[13:12] {Threei}  by the way, while we are on it and considering a few trialers in the room, homework for the long weekend for you guys:
[13:12] {Threei}  http://blog.realitytrader.com/2009/12/blog-summary.html
[13:12] {Z} i dont have stats. on it, but my guess would be that this avg. down worked maybe 1 in 10 times
[13:12] {Threei}  summary of our trading approach I put together
[13:12] {Threei}  will help with many aspects of it
[13:12] {Z} for this individual and the sheep (bagholders) that followed
[13:14] {Threei}  did you know there is a stock symbol Z?
[13:15] {Threei}  also, ESE
[13:15] {Z} zillow yes
[13:15] {Threei}  also RAVN
[13:24] {Threei}  hmmm
[13:24] {Threei}  Bearish bets against the Standard & Poors 500 Index rose to a nine-month high as short sellers increased speculation stocks may decline amid concerns over the strength of global economic growth.
[13:24] {Threei}  The proportion of S&P 500 shares outstanding sold short on Aug. 29 rose to 3.03 percent, the most since the end of November and up from 2.37 percent at the beginning of August, according to New York-based Data Explorers, which provides research on short sales and stock lending. Short selling of the gauge reached a three-year high of 5.52 percent in August 2008, before the worst financial crisis since the 1930s drove the stock index to a 12-year low in March 2009.
[13:28] {dino} cat sm l .50
[13:28] {Threei}  enmd of day today promises to be interesting
[13:28] {Threei}  I want to say panic but I know I am going to killed by you-know-who
[13:31] {_thomcbell} dino why did u buy CAT here?
[13:33] {dino} seemed to be holding .50 area
[13:54] {Threei}  SPY's critical support is defined
[13:54] {Threei}  118
[13:55] {Threei}  that gets broken, panic ensues
[13:58] {Z} long day...
[13:58] {Threei}  lnger than usual?? :)
[13:58] {Z} probably
[13:58] {Z} feels like it
[13:59] {dino} slow
[13:59] {Threei}  time warp
[13:59] {Threei}  chronoclastic infundibulum
[14:00] {RonS} Z zone
[14:00] {Threei}  lol
[14:00] {Z} that's not a pair of words you hear every day...
[14:01] {RonS} stick around, we go to great lengths to confound the language
[14:03] {RonS} whew, at least not doj...
[14:04] {dino} meli sm l .00
[14:06] {Z} so congress has to have a budget ready by 9/30....just a mere 800+ days late
[14:07] {ese} L cat .49
[14:08] {Threei} Short Setup: RIMM  30 break
[14:08] {dino} my stop is .39 fwiw
[14:08] {Threei}  stop above .10
[14:09] {dino} stop cat -.11
[14:11] {Threei}  1:1
[14:11] {ese} out cat .38 -.11
[14:11] {Threei}  thank you RIMM for your faithful eternal reliabkle friendhsip
[14:11] {Threei}  118 is lost
[14:12] {Threei}  panic
[14:12] {ese} quitin while i'm ahead.......cya next week
[14:12] {Threei}  sharp red bar, volume spike
[14:12] {Threei}  take care ese, have a great long weekend
[14:12] {RonS} huge buyers coming into es futes
[14:12] {Threei}  you know there is no trading Mon, right?
[14:12] {Threei}  hmmm
[14:12] {Threei}  he may not
[14:13] {Threei}  larisa... does this qualify??
[14:14] {dino} nope, not even breaking lod
[14:14] {Threei}  we just did
[14:15] {Threei}  118.08 was the low before this red bar
[14:15] {dino} was watching s/p
[14:16] {Threei}  new low
[14:16] {Threei}  {--- crying... how I understand you, Rodney Dangerfield
[14:19] {dino} 2161 ndx gap
[14:24] {dino} cat sm l .15
[14:31] {Threei}  well... how about this?
[14:31] {Threei}  IMF releases report on spillover effect in financial markets
[14:31] {Threei}  still no good?
[14:35] {Threei}  - Fiscal deterioration in EU has the potential for a Lehman-like event
[14:35] {Threei}  - Spillover on fixed income markets is accelerated during financial stress
[14:36] {RonS} hmmm...thought we learned that in 2008
[14:36] {dino}  "we" did, not the europeans
[14:37] {dino} they taunt us as they are falling apart
[14:38] {Threei}  I think Euro strength during this period while anyone who looked could see easily EU is dead, will be one of those great mysteries for decades to come
[14:39] {dino} i can't figure it out. they will be monitizing or defaulting, either way, bad
[14:39] {Threei}  yes... and there is just no third way
[14:40] {dino} and yet you go broke shorting it
[14:48] {Z} spy may roll even further
[14:48] {Z} wouldn't be the least bit surprised
[14:53] {_sednet} dyn
[14:54] {dino} pbr
[15:04] {Threei}  new breakdown is coming
[15:04] {Z} 3 times testing low
[15:05] {Threei}  and look at the volume configuration
[15:05] {Threei}  increase on each dive, drying up on bounces
[15:06] {dino} funny, talking heads talking about a great week this a.m., wiped out in a day
[15:08] {Z} tza having fun today
[15:09] {Z} 10 yr. bond {2
[15:13] {Threei}  http://www.facebook.com/photo.php?fbid=254587764575906&set=a.237133656321317.63196.235739863127363&type=1
[15:14] {Threei}  little educationalblurb
[15:16] {RonS} ok, see you next week...have a good one.
[15:17] {dino} cya ron
[15:37] {dino}  out cat .25 +.10
[15:42] {dino} ugh cat
[15:48] {Threei}  OK guys, I believe we had an awesome week, and ended today with 4 out of 5
[15:48] {Threei}  no need to seek problems ahead of long weekend
[15:48] {Threei}  enjoy it, relax, see you all on Tuesday
[15:48] {Z} have a great holiday weekend...cya all tuesday
[15:49] {dino} take care
[15:52] {_thomcbell} thanks Vad et al
[15:55] {larisa} bye :)

Sep 01 2011

Very nice day with many good trades and very few stops. Patient hunt for setups yielded quite a few scalps  1:3s and this nice one below:

Session Time: Thu Sep 01 00:00:01 2011
[08:30] {Threei}  *(US) INITIAL JOBLESS CLAIMS: 409K V 410KE; CONTINUING CLAIMS: 3.74M V 3.681ME
[09:01] {Threei}  let's wake up?
[09:01] {Threei}  or it's not necessary
[09:02] {nemo} I was up all night
[09:03] {Threei}  why?
[09:03] {Threei}  not that it's my business
[09:03] {nemo} couldn't sleep
06[09:03] * pragmatic yawn
[09:03] {nemo} bunny was stomping around the house all night
06[09:04] * Threei mails nemo a box of sleep aid (whch is just a couple bricks to hit oneself over the head)
[09:04] {pragmatic} why himself? bricks should be for bunnies
[09:04] {Threei}  no way
[09:04] {Threei}  he loves that thing
[09:05] {nemo} nobody touches bunny
[09:05] {pragmatic} UVIC did
[09:05] {nemo} ?
[09:05] {Threei}  UVIC didn't touch HIS bunny
[09:05] {pragmatic} UVIC killed al the bunnies
[09:05] {pragmatic} ahh
[09:05] {Threei}  well, they evcauated many
[09:05] {pragmatic} "evacuated"
[09:06] {Threei}  well, if you decide to correct my mistypes, it will keep you busy all day long :)
[09:06] {nemo} what they do, take them skydiving over the pacific without a parachute?
[09:06] {Threei}  remember, I type with my fins
[09:06] {Threei}  it was a huge story here, nemo... dragged on for years
[09:07] {nemo} yeah, you've told me
[09:07] {Threei}  one of the last headlines:
[09:07] {Threei}  20 Jan 2011  The University of Victoria is changing its rabbit policy from trap and relocate to trap and kill.
[09:11] {pragmatic} is that official ?
[09:12] {Threei}  yes
[09:13] {Threei}  it's their message "don't dump your pets here or they'll be killed"
[09:13] {larisa} gm :)
[09:13] {Threei}  larisa :)
[09:14] {larisa} vad :)
[09:15] {nemo} geez, we're going to open up relatively flat...did the world end?
[09:15] {Threei}  about to
[09:20] {Threei}  I nominate the fight about the date for president speech as the most stupid and unnecessary fight of 2011
[09:28] {Threei}  FYI
[09:28] {Threei}  http://www.facebook.com/RealityTrader/posts/253814507986565
[09:28] {pragmatic} BTW, today is septemebr the 1st. The Summer is over
[09:29] {Threei}  well, officially it's over Sept 22, isn't it
[09:29] {Threei}  and market wise, it's over after labor day
[09:30] {Threei}  RIMM
[09:30] {Threei}  watching it for short as first trade
[09:30] {Threei}  need bounce now
[09:31] {Threei} Short Setup: RIMM  .40 break
[09:31] {Threei}  lol
[09:31] {pragmatic} wth
[09:31] {Threei}  stop above .,50 if you got it
[09:31] {Threei}  1:1
[09:31] {Threei}  etc
[09:31] {nemo} wise ass
[09:33] {Threei} Short Setup: RIMM  .50 break
[09:33] {Threei}  if stays under .60
[09:33] {nemo} .55 looks break level
[09:33] {Threei}  invalidated
[09:33] {Threei}  .60 break new setup
[09:34] {Threei}  stop above .70
[09:35] {Threei}  no go
[09:36] {Threei}  (FR) ECB's Nowotny: Does not believe that France could lose its AAA sovereign rating
[09:36] {Threei}  FCX is a bit ahead of itself
[09:37] {Threei} Short Setup: FCX  .40 break
[09:38] {Threei}  if stays under .50
[09:38] {Threei}  invalidated but on radar
[09:39] {Threei}  grr
[09:39] {Threei}  no trigger
[09:39] {Threei}  .50 was pretty much arbitrary
[09:39] {Threei}  sudden SPY drop
[09:40] {Threei}  no news
[09:40] {nemo} ism numbers 10
[09:42] {Threei}  let's see if we get clear short into bounce
[09:42] {Threei}  FCX would be ideally on .430 recross, after bouncing above .40 but staying under .50
[09:43] {nemo} pivot is .44 and vwap .18
[09:43] {Threei}  and RIMM .70, same idea, staying under .80
[09:44] {Threei}  doesn't look like we are to get those bounces
[09:48] {Threei}  ok, now maybe finally
[09:50] {Threei}  something'sa worng
[09:50] {Threei}  wrong too
[09:50] {Threei}  SPY is getting hit pretty heavy
[09:50] {nemo} maybe they sent the machines to the Caymans for the weekend
[09:51] {Threei}  it plays along well with my post on market underlyong weakness... we are just not getting clean setups
[09:54] {Threei} Short Setup: SLW  .20 break
[09:54] {Threei}  if stays under .30
[09:56] {Threei}  let's trail to .25
[09:57] {Threei}  numbers are too close
[09:57] {Threei}  1:1
[09:58] {nemo} number at 10
[09:58] {Threei}  [09:57] {Threei} numbers are too close
[09:58] {Threei}  take me off ignore nemo, will ya
[09:59] {Threei}  if you partial, follow the standard procedure
[09:59] {Threei}  half out, stop to .21
[10:00] {Threei}  *(US) AUG ISM MANUFACTURING: 50.6 V 48.5E; PRICES PAID: 55.5 V 55.0E
[10:00] {pragmatic} wow
[10:00] {Threei}  *(US) JULY CONSTRUCTION SPENDING M/M: -1.3% V 0.2%E
[10:00] {Threei}  wow's right
[10:00] {pragmatic} I was shorting TZA at .70
[10:00] {nemo} ?
[10:01] {pragmatic} 40.70
[10:01] {Threei}  shorting TZA?
[10:01] {nemo} you were long tza
[10:01] {nemo} ?
[10:01] {pragmatic} short
[10:01] {Threei}  who shorts TZA, lol
[10:01] {pragmatic} I got my shares at premarket
[10:01] {Threei}  go long TNA
[10:02] {pragmatic} what is wrong about TZA ?
[10:02] {pragmatic} besides it is too volatile
[10:03] {nemo} they're both volatile, especially when they're close in price
[10:03] {pragmatic} do you know how to show timestamps in mirc ?
[10:05] {Threei} Short Setup: SLW  .40 break
[10:05] {Threei}  stop abkve .50
[10:06] {Threei}  1:1
[10:06] {pragmatic} tx SLW
[10:06] {Threei}  yw
[10:07] {Threei}  prepared FCX short alert at .80, and it was waaaay too fast
[10:07] {pragmatic} I can't hold yet, but 1:1 works for me well at this stahe
[10:07] {pragmatic} stage
[10:07] {ese} morning...hmmm didn't think that i was in
[10:07] {Threei}  now you can activate timestamps by right-clicking on the channel name in the upper bar, and picking TimeStamp line in dropdown menu
[10:07] {Threei}  hey ese
[10:09] {Threei}  ese, look dcc pls
[10:09] {Threei} Short Setup: RIMM  .75
[10:10] {Threei}  if stays under .85
[10:12] {Threei}  valid again
[10:15] {Threei}  no go
[10:16] {Threei}  RIMM doesn't behavce today
[10:16] {Threei}  leaving it alone for now
[10:18] {Threei} Short Setup: GEF  .30 break half lot
[10:19] {Threei}  stop above .45
[10:20] {Threei}  feel free to cover
[10:21] {Threei}  I am out
[10:21] {Threei}  wow, too early
[10:22] {Threei}  Euro vs US Dollar Dealers focusing on the employment component of ISM data, aiding some risk aversion flows- - The better-than-expected ISM data bucked the global trend and remained above the 50 level but the employment component was at its lowest level since mid-2009 and provided the USD with some tailwinds in the session.
[10:23] {Threei}  looking at USD daily... we may have serious trend reversal in the making
[10:25] {patience} good morning, need coffee vad, USD seriously trending up?
[10:25] {Threei}  morning
[10:26] {Threei}  wait, I am not sure what to do first, serve you coffee or analyze USD
[10:26] {pragmatic} :)
[10:26] {patience} coffee
[10:26] {patience} :)
[10:31] {nemo} rimm .25 offer
[10:32] {Threei}  was looking at FCX .20 break as short, and dxecided against it
[10:33] {Threei}  not good grasp on the market today
[10:33] {Threei}  must be nemo fault... not sure how, but it just must be
06[10:34] * pragmatic spilled my coffee all over the table (including the keyboard and the mouse)
[10:34] {nemo} sucks being you
[10:35] {Threei}  was it that same coffee patience craved so much?
[10:35] {pragmatic} yup
[10:40] {Threei}  my very last try with RIMM today
[10:40] {Threei} Long Setup:  RIMM  .25
[10:40] {Threei}  if stays above .15
[10:41] {Threei}  invalidated
[10:42] {Threei}  (and I feel relief)
[10:48] {Threei}  I have strong feeling we are about to roll over and go into red
[10:50] {Threei} Long Setup:  TZA  .30 break
[10:50] {Threei}  if stays above .15
[10:51] {Threei}  invalidated
[10:51] {Threei}  hnting for another trigger
[10:51] {Threei}  .20 break
[10:51] {Threei}  if stays above 40
[10:51] {Threei}  .10 for aggressive entry
[10:52] {Threei}  .95 stop
[10:52] {nemo} pivot at .01 and vwap at .90, wouldn't play a break
[10:52] {Threei}  target is .70
[10:53] {Threei}  touched 1:1 but way too fast
[10:53] {Threei}  no go
[10:54] {Threei}  I don't think anyone had a chance to exit there
[10:56] {Threei}  now it goers
[10:56] {_zeeee} murphy's law :)
[10:56] {Threei}  kind of
[10:57] {Threei}  one of those cases which I really dislike: when I get right read but can't pinpoint exact way to utilize it
[10:57] {Threei}  look at it
[10:58] {Threei}  SPY red
[10:59] {ese} L JOSB .00
[10:59] {Threei}  11% Think Government Should Provide Basic Income Grant for All
[11:00] {Threei}  so, 11% are not just idiots - they are outright loonies
[11:02] {Threei}  and here comes my target
[11:03] {Threei}  all markets are in the red now
[11:04] {Threei} Short Setup: FCX  .80 break
[11:05] {ese} out 1/2 .20 +.20
[11:05] {Threei}  nice
[11:06] {ese} balance to break even
[11:06] {ese} tks
[11:06] {Threei}  FCX is valid
[11:06] {Threei}  and not a scalp, should be able to do much more
[11:06] {Threei}  potential for about 40 cents at least, maybe more
[11:07] {Threei}  stop .96
[11:07] {Threei}  1:1
[11:08] {Threei}  stop to .85 for the balance
[11:08] {ese} out balance .03 +.03
[11:10] {Threei}  panic is coming folks, IMO
[11:11] {ese} market in general Vad?
[11:11] {Threei}  yes
[11:11] {ese} or fcx
[11:11] {Threei}  FCX won't be immune
[11:13] {Threei}  market is about to plunge hard
[11:15] {larisa} sigh
[11:17] {Threei}  lack of oxygen?
[11:17] {larisa} not really :)
[11:21] {larisa} I just do not understand  how you can predict anything in this absolutely crazy market and why you need to do so :)  carrot juice/beer/vine bets are not enough ? :)
[11:21] {Threei}  I don't predict anything
[11:21] {nemo} you ever here the story of the scorpion and the turtle Larisa?
[11:21] {Threei}  I share my gut feel
[11:22] {Threei}  and my experience shows it's right much more often than it's wrong
[11:22] {Threei}  yours would too if you run a tally
[11:23] {Threei}  let me point it again
[11:23] {Threei}  http://www.facebook.com/RealityTrader/posts/253814507986565
[11:23] {Threei}  this is yet to play out to full extent, and I don't mean little intraday drop
[11:24] {larisa}  I just get nervous when you say "about to plunge hard" or "panic is coming" or something like that :)
[11:24] {larisa} nemo yes :)
[11:24] {Threei}  it's good
[11:24] {Threei}  fear is our survival mechanism
[11:24] {Threei}  it's widely misunderstood
[11:24] {Threei}  one must learn to use fear
[11:24] {larisa} not fear, anger :)
[11:25] {Threei}  then it won't be paralyzing feeling but self-preservation one
[11:25] {Threei}  and anger is meaningless and non-constructive
[11:25] {larisa} lol
[11:27] {Threei}  second half FCX is stopped on trail
[11:29] {Threei}  you are looking at the same market as I am, tell me:
[11:30] {Threei}  these bounces we get after seloffs, yesterday and today
[11:30] {Threei}  don't they feel very labored to you,
[11:30] {Threei}  while selloffs feel very effortless?
[11:30] {Threei}  market drops willingly and climbs sqeaking
[11:31] {Threei}  am I alone in sensing this?
[11:31] {_zeeee} yea the bounces feel like exhausted, tired, low volume pops
[11:31] {Threei}  it's almost like bears test the water, see how fragile market is
[11:32] {Threei}  and retreat because it's not time yet'
[11:32] {Threei}  not enough suckers are suckered into long positions,
[11:32] {Threei}  not enough short p;ositions are accumulated yet
[11:32] {Threei}  so selling pressure is being taken off
[11:45] {Threei}  look at it once again, this time I may be able to put it in chart terms rather than "feelings"
[11:46] {Threei}  20 min climb, eliminated in one 1-min bar
[11:46] {Threei}  or 2
[11:46] {Threei}  see what I mean?
[11:47] {Threei}  no one is talking to me... dino, you are my last hope
[11:47] {_zeeee} momentum selling vs. slow accumulation
[11:48] {dino} finally here, cable out again
[11:48] {Threei}  I'd put it this way: very weak support, reluctant buyers retreating at first signs of selling pressure, and bears being in charge to decide whe to strike and when to wait
[11:48] {RonS} dnkn parabolic
[11:49] {Threei}  Dunkin' Brands Group, Inc. Ticking higher following positive comments from CNBC's Greenberg- notes IPO quiet period ends tomorrow for analysts
[11:54] {Threei} Short Setup: SLW  .60 break
[11:54] {Threei}  if stays under .70
[11:55] {Threei}  here is what propped this move up:
[11:55] {Threei}  (GR) Fitch comments on recent merger between Alpha and Eurobank in Greece; deal is constructive but risks still exist
[11:56] {Threei}  market feverishly looks for anything positive about greece and europe overall
[11:57] {Threei}  - Fitch Ratings considers the proposed merger of Alpha Bank (Alpha) and EFG Eurobank Ergasias SA (Eurobank) as potentially constructive in the medium term for the Greek banking sector. However, the agency notes that Greek banks continue to face significant challenges
[11:57] {Threei}  - The new banking entity should ultimately benefit from a larger franchise and revenue and cost synergies. However, in Fitch's opinion, these synergies will be difficult to achieve given the potentially large integration risks and the challenging operating environment in Greece. The agency believes all Greek banks will continue to face significant challenges. Asset quality in Greece is expected to deteriorate further. Moreover, severe funding and liquidity pressures remain, resulting in Greek banks being highly dependent on extraordinary liquidity from the ECB and the Bank of Greece
[11:57] {Threei}  it's all noise... Sept 7 will be meaningful,
[11:58] {Threei}  in terms of immediate unraveling or kicking can down the road once again
[11:59] {dino} whats sept 7th?
[11:59] {Threei}  SLW invalidated of course
[12:00] {RonS} a german court rules whether the greek bailout is constutional
[12:00] {Threei}  Germany dino, high court decision on whether using their funds for bailouts of other countries is constitutional
[12:00] {ese} hmmmmmmmm
[12:00] {Threei}  president went public saying it's not
[12:01] {dino} ok, thx, a bit out of it w/o internet, guess 99% of my news comes from internet
[12:01] {_zeeee} everything is welfare based these days...what happened to survival of the fittest?
[12:01] {Threei}  in a rare case of this largely ceremonial figure expressing policy views
[12:01] {Threei}  it has died zeee... it was not fit enough
[12:01] {_zeeee} lol
[12:01] {Threei}  :)
[12:01] {_zeeee} true
[12:02] {Threei}  http://www.facebook.com/RealityTrader/posts/250549298313086
[12:04] {RonS} plcm l or s dino?
[12:04] {Threei}  we also have presidential speech on jobs Sept 8 but that will be largely overshadowed by HFL
[12:05] {RonS} hockey football league?
[12:05] {Threei}  lol
[12:05] {Threei}  you try to type with your knees
[12:05] {RonS} np they are knobby...
[12:06] {dino} gap 21.88ish
[12:06] {RonS} was quite effective weapon during baketball days
[12:07] {Threei} Long Setup:  TZA  .40 break
[12:07] {Threei}  half lot
[12:07] {Threei}  if stays above .25
[12:08] {Threei}  invalidated
[12:12] {Threei}  OK, I know it starts looking like strubborness, but the chart is too good
[12:12] {Threei} Short Setup: RIMM  33 break
[12:13] {Threei}  if stays under .10
[12:18] {Threei}  come on... 1 cent to 1:1?
[12:18] {dino} sm s lqdt .10
[12:19] {dino} oxm sm s .20
[12:21] {Threei} Short Setup: GDX  .40 break
[12:22] {Threei}  condition is obvious
[12:23] {Threei}  right?
[12:23] {Threei}  G20 Financial Stability Board said to be planning a system to collect data on the "shadow banking" sector starting in 2012 - financial press
[12:23] {Threei}  - Data will be used to study whether the shadow banking sector sector needs regulation, to examine money market funds and securitization issues as well.
[12:23] {Threei}  - FSB plans to issue a report on shadow banking regulation at the G20 summit in November
[12:24] {Threei}  shadow banking?
[12:24] {dino} the shadow knows
[12:24] {Threei}  ah
[12:24] {Threei}  RIMM stop to .06
[12:25] {Threei}  me and RIMM no buddies today
[12:25] {Threei}  but it can still fix it
[12:25] {Threei}  by dropping like sailor's pants... errr
[12:26] {Threei}  GDX 1:1
[12:28] {dino} oxm stop -.32
[12:28] {Threei}  from Twitter: A guy on NPR just said we have less rainbows because of global warming
[12:28] {_zeeee} was it al gore?
[12:28] {_zeeee} :)
[12:28] {Threei}  probably not but sure sounds like him
[12:29] {Threei}  did you know that if you don't believe in global warming you were a rasist?
[12:29] {Threei}  according to him
[12:29] {_zeeee} lol
[12:29] {Threei}  I want to throw my hands up in the air and say fine, I am a rasist
[12:30] {Threei}  I also hate broccoli
[12:30] {Threei}  and love bacon
[12:30] {Threei}  enough of political incorrectness for one day?
[12:33] {nemo} unless they just walk the line, spy and IWM could have a major break soon
06[12:33] * Threei hits RIMM over the head with 2x4
[12:33] {_zeeee} how about a 2 x 12?
[12:33] {Threei}  well, I still hope we could be friends
[12:33] {dino} plcm sm l .00 stop .89
[12:33] {Threei}  2x4 leaves the door open... 2x12 is kind of harsh
[12:34] {nemo} hard to accelerate, not really good as a weapon
[12:34] {dino} have to agree w/nemo
[12:34] {_zeeee} true, maybe a louisville slugger would give you more momentum :)
[12:35] {Threei}  I'll leave it to nemo to select the arsenal
[12:35] {dino} took son to yankee game, bat day, 15k 30" louisville sluggers in stadium, thought the place would blow up
[12:35] {_zeeee} rofl
[12:36] {nemo} actually, problem with Louisville's is they make the grip area much narrower than they used to...wacking a baseball is one thing, skull crushing...ehhhh, probably break it on the first shot
[12:37] {Threei}  see?
[12:37] {_zeeee} rimm doesnt want to crack the 60 min. 5 sma
[12:37] {nemo} ahhhh...rimm doing the vwap walk
[12:37] {Threei}  it's about to break it
[12:38] {Threei}  and panic, yes larica, panic!
[12:38] {Threei}  larisa, sorry
[12:38] {Threei}  I need to get back to typing with elbows
[12:38] {Threei}  knees is way too inefficient
[12:38] {Threei}  1:1 baby
[12:38] {Threei}  RIMM, we are friendasa again
[12:39] {dino} oxm rinsed
[12:39] {Threei}  I wouldn't call today a stellar day but solidly in green so far
[12:40] {Threei}  I also want market to drop hard, so I could have bragging rights
[12:41] {dino} cov lqdt .60, +.50
[12:42] {dino} pulp trader
[12:47] {Threei}  out RIMM in full
[12:47] {Threei}  BFF
[12:48] {Threei}  that's not a stock symbol :)
[12:48] {Threei}  remember last year hoopla about solar company louded as a recipient of federal funding, presidential speech "the future is here"
[12:49] {Threei}  half billion funding
[12:49] {dino} yes
[12:49] {Threei}  went bankrupt yesterday
[12:49] {RonS} bk
[12:49] {Threei}  solyndra or something like that
[12:50] {dino} plcm stop -.11
[12:52] {Threei}  really hope that "future is here is not a prophecy
[12:54] {Threei}  you guys are way too quite
[12:54] {Threei}  how are we doing?
[12:54] {Threei}  breathing? moving our limbs?
[12:55] {Threei}  sleeping?
[12:55] {_zeeee} football season starts tonight :)
[12:55] {_zeeee} ncaa anyway
[12:56] {Threei} Long Setup:  TZA  41 break
[12:56] {Threei}  this one for the big score
[12:56] {Threei}  if stays above .85
[12:57] {Threei}  50 cents at least, most likely more
[12:58] {Threei}  plan:
[12:58] {Threei}  first partial around .20
[12:58] {Threei}  second closer to .45
[12:58] {Threei}  then trail
[12:59] {Threei}  lose 122 SPY
[12:59] {Threei}  now
06[12:59] * Threei hits SPY over the head with 2x4 eqipped with rusty nails
[12:59] {_zeeee} much better
[13:00] {Threei}  first taregt hit
[13:01] {_zeeee} nice call threei
[13:01] {Threei}  ty
[13:01] {Threei}  not over yet
[13:01] {Threei}  want much more from this
[13:01] {Threei}  stop to .95 to be safe
[13:01] {Threei}  but overall, it's a play for market plunge
[13:01] {Threei}  panic
[13:02] {Threei}  and I am not afraid of larisa
[13:02] {Threei}  well, I am...
[13:02] {Threei}  but I am putting on a brave face
06[13:03] * Threei kicks TZA in the rear with heavy duty steel toe army boots
06[13:05] * Threei pokes TZA in the ribcage with electrrocharged sharp stick
[13:06] {Threei}  second target hit
[13:06] {nemo} should get .20 more
[13:06] {Threei}  stop for the last piece to .15
[13:06] {_zeeee} must've been the stick with the jolt
[13:06] {Threei}  that's what it is
[13:06] {Threei}  finally general read comes together with exact call
[13:07] {Threei}  took almost full day of patient waiting for the weak anthelope to walk by my hide
[13:08] {Threei}  out half of the remainder .62
[13:08] {Threei}  breaking it down by even smaller portions, lol
[13:08] {Threei}  squeezing every drop of the juice from this one
[13:09] {_thomcbell} what set up was that on TZA?
[13:09] {Threei}  modification of JBE
[13:09] {Threei}  break of strong resistance at 41
[13:09] {Threei}  I'll make a screenshot with chart
[13:09] {Threei}  and annotations
[13:10] {Threei}  plus general read of market weakness coming
[13:10] {_thomcbell} thanks
[13:10] {Threei}  and using TZA as favorite way to short the market
[13:11] {Threei}  stop to .35 btw
[13:14] {dino} plcm sm l .00
[13:15] {Threei}  nemo, that blind you recommended for hunting the anthelopes really works
[13:15] {Threei}  stop to .45
[13:16] {Threei}  if it's hit, this is H&S and most likely reversal
[13:16] {Threei}  see the head on 1 min?
[13:16] {Threei}  and very lopsided shoulders, lol
[13:17] {Threei}  ok
[13:17] {Threei}  over and out
[13:20] {Threei}  see how trend changed?
[13:21] {RonS} dino, took omx s .20 to .55  +.75  thanks
[13:22] {dino} wtg
[13:22] {RonS} oops can't subtract +.65
[13:22] {Threei}  nice anyway
[13:23] {Threei}  thom, http://www.facebook.com/photo.php?fbid=254030391298310&set=a.237133656321317.63196.235739863127363&type=1
[13:26] {dino} spike
[13:34] {nemo} lqdt spike
[13:35] {RonS} look gs
[13:36] {nemo} look bonds
[13:36] {RonS} Fed Issues Enforcement Action Vs Goldman Sachs Over Foreclosure Practices       09/01 11:30 AM
[13:37] {nemo} spy about to drop support
[13:37] {Threei}  but of course
[13:37] {Threei}  that will drop like a prom... err...
[13:38] {dino}  dress?
[13:39] {Threei}  yeah, that was my next word up until Idecided to stay decent
[13:39] {dino} lqdt sm s .44
[13:40] {RonS} Fed Orders Goldman Sachs To Conduct Independent Review Of Foreclosures }PFCI       09/01 11:30 AM
[13:40] {RonS} Fed to announce Goldman Sachs fine later       09/01 11:30 AM
[13:40] {RonS} the news isn't on GS specfically, it was on a former Loan Service of GS... Litton Loan Service.. former unit of GS
[13:42] {nemo} I was thinking tza 42 break...oh well
[13:44] {Threei}  yeah
[13:44] {dino} lqdt stop -.32
[13:44] {_zeeee} dino u trade this LQDT much or just a play of the day?
[13:45] {Threei}  dino is omnivorous
[13:45] {Threei}  whatever walks by, he eats :)
[13:45] {dino} play of day
[13:48] {nemo} gdx
[13:53] {dino}  rinsed again lqdt, that makes 3
[14:15] {Threei}  wow... summer goes out with a bang in Victoria
[14:15] {Threei}  events for this weekend:
[14:15] {Threei}  Classic Boat Festival, Saanich Fair, Fringe Festival, Blues Bash
[14:16] {RonS} kinda cool...something for the weekend...tim knight who fouded and developed prophet charts does a worth watching show on the only computer museum in the US:  http://tinyurl.com/3p4jzjr
[14:22] {Threei}  new lows are coming, IMO
[14:22] {Threei}  this is very sustainable selling
[14:22] {Threei}  double bottom won't hold
[14:23] {RonS} but .vix not moving...
[14:23] {nemo} bonds flattening
[14:25] {_zeeee} looks like daily 5 sma on SPY going to test
[14:26] {patience} slw
[14:27] {nemo} spy bottomed me thinks
[14:27] {patience} ok, back to cash now
[14:28] {patience} been watching tdbank chart, up 23% in q3
[14:28] {patience} keep thinking it will pull back but nope
[14:40] {dino} plcm to .38
[14:40] {Threei}  I am not convinced, nemo...
[14:40] {Threei}  still feel liek new lows are in order
[14:41] {dino} to .44
[14:41] {nemo} fine, that was the bottom for now, sheesh....
[14:42] {nemo} in 2012 market goes to 0 wtf...
[14:42] {nemo} that'll be the bottom
[14:42] {dino} indeed
[14:42] {Threei}  and we will all catch it
[14:42] {ese} agreed
[14:43] {nemo} ese...get my email before you left?
[14:44] {ese} yes I did.....but was too busy to act on it.....have passed the message on to Gregs parents
[14:44] {nemo} I forwarded the link to Superstition, he really liked it
[14:45] {dino} out plcm .44, +.44
[14:45] {RonS} gj
[14:45] {_zeeee} nice trade
[14:46] {dino} ty
[14:59] {Threei}  are we friends with RIMM for good, or is it going to betray me...
[14:59] {Threei} Short Setup: RIMM  .20 break
[14:59] {_zeeee} lol
[15:03] {Threei}  OK... I may have tested our freindship one too many times today, but let's see what it can withstand :)
[15:04] {Threei}  good boy
[15:04] {Threei}  a bit more please
[15:05] {Threei}  huge offer at .15
[15:05] {Threei}  1:1 baby... that's what I call real friendship
06[15:05] * Threei shakes RIMM's hand
[15:06] {Threei}  42% Give Obama Positive Marks on Leadership, 40% Give Poor Rating
[15:06] {Threei}  really? 42%?
[15:06] {Threei}  they call it leadership...
[15:07] {Threei}  then again, I call myself good loking
[15:07] {Threei}  and it flies as long as don't look in the mirror
[15:07] {Threei}  1:2 RIMM
[15:08] {RonS} lol gj
[15:08] {Threei}  ty
[15:08] {dino}  gj
[15:10] {Threei}  1:3
[15:10] {Threei}  done
[15:11] {nemo} .80 support
[15:11] {Threei}  from yesterday?
[15:11] {Threei}  .79 low
[15:12] {nemo} yeah
[15:12] {nemo} fine .793
[15:12] {Threei}  lol
[15:12] {Threei}  no, I was confirming
[15:12] {nemo} I have no idea, I'm just being belligerently argumentative
[15:12] {Threei}  1 cent is not of any importance on daily
[15:13] {RonS} bunny had made him sooo sensitive...
[15:13] {Threei}  sensitive nemo
[15:13] {nemo} she's so cuuuuuuuttttteeeeee
[15:13] {nemo} oxymoron
[15:13] {Threei}  now, this is something not many saw
[15:14] {Threei}  and just imagine a combination of overly sensitive and belligerently argumentative
[15:14] {Threei}  {---shudders
[15:15] {dino} tzoo sm l .50, stop lod
[15:16] {Threei}  oh, throw "proficient in martial arts" to that combination... andf shudder with me
[15:23] {Threei}  CBOE Reports All-Time Record Trading Volume in August 2011
[15:23] {Threei}  interesting
[15:23] {Threei}  and very unusual for august
[15:32] {_zeeee} spy trying to hold 121
[15:33] {Threei}  IMO... it won't
[15:37] {Threei}  and it doesn't
[15:43] {Threei}  larisa... sorry, but today I win
[15:43] {larisa} no.. where is the panic ?
[15:43] {Threei}  and have bragging rights about that facebook post
[15:44] {larisa} selling, yes.  Panic, no.. :)
[15:44] {Threei}  no any single worthy bounce... all supports get broken easily.. ending at the low... panic WILL follow :)
[15:44] {Threei}  give it time
[15:44] {larisa} you will WIN{ when it WILL :)
[15:44] {Threei}  also, notice how this great morning news and spke they caused was used to dump into them
[15:45] {Threei}  that's not the sign of a strong market at all
[15:45] {nemo} bbbb
[15:46] {Threei}  come one nemo... there are other letters in latin alphabet
[15:46] {nemo} BBBB the frickin' stock!!!!!!
[15:46] {Threei}  hehe
[15:46] {Threei}  no news yet
[15:56] {nemo} rimm
[15:57] {Threei}  new lows
[15:57] {Threei}  OK guys
[15:57] {Threei}  thank you all, have a great evening
[15:57] {Threei}  see you tomorrow
[15:57] {patience} ty vad, 100% cash, watching the market   :)   small up day for me.
[15:57] {larisa} bye :)