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Course on chart pattern recognition is available now: http://www.realitytrader.com/111trades.html )
Fairly decent day with nice strong morning trades and comatose afternoon. Put it to a good use by discussing some trading theory.
Session Time: Mon Feb 27 00:00:00 2012
[08:39] {Threei} - German parliament votes today on second Greek bailout package; will pass but dealers question the 'cost' of opposition support. Polls show that majority of Germans are against the bailout
[08:40] {Threei} - German coalition spelled out its terms to support a second Greek bailout package when it voted later today on the topic. The coalition stated that it was seeking terms of the Greek aid to be met prior to any payment; and sought support to restructure Greek economy. Germany also wanted an IMF role in Greece 'as much as possible'
[09:04] {MigC} Good morning
[09:04] {Threei} morning migc
[09:08] {Threei} if I were AAPL, I'd start worrying about ASUS taking over the world
[09:08] {Threei} http://techinstyle.tv/20122723801/post-types/news/the-asus-padfone-one-device-to-rule-them-all/
[09:12] {Threei} (DE) German Chancellor Merkel: There is no 100% guarantee of success in Greece; the goal is to achieve stability - address to Parliament ahead of vot on Greek bai;out package- If the euro fails then Europe will fail.
[09:14] {ese} morning vad
[09:14] {Threei} ese!
[09:15] {Threei} welcome back
[09:15] {Threei} we started worrying
[09:15] {ese} for a bit anyway........
[09:15] {Threei} some said the lustre of the capital lured you in
[09:15] {beau} good morning you all
[09:16] {Threei} beau :)
[09:16] {ese} Ottawa was very successful......extremely positive for the kids in the band.....unbelieveable media attention
[09:16] {ese} but
[09:16] {Threei} some found vague story about BC musician destroyng a bar in Ottawa...
[09:16] {ese} while i was there we had a tragic family incident
[09:16] {Threei} oh... sorry to hear
[09:17] {Threei} look dcc please
[09:17] {ese} my brothers son was killed in freak acident in an edmonton car parking lot
[09:17] {rambler} gm...
[09:17] {Threei} rambler :)
[09:18] {ese} opps sorry
[09:23] {nemo} oh jeez ese...I'm so sorry
[09:23] {ese} tks nemo
[09:23] {ese} it's a wake up call for sure
[09:23] {ese} he was only 21
[09:24] {nemo} I am so sorry for your brother and his wife...there can be nothing worse for a parent
[09:25] {ese} ya he's hurting big time right now.......has be doing AA for 12 years but might be backdrinking again
[09:25] {ese} relapsing
[09:26] {nemo} same thing happened to friends of mine a few years ago...there only child and alcohol has been a problem for the husband
[09:26] {ese} I can now see that
[09:27] {dino} so sorry to hear ese
[09:28] {ese} tks dino were hanging in there......heres one of the media clips from the CBC re the trip
[09:28] {ese} http://www.cbc.ca/video/#/News/Canada/Ottawa/1305550861/ID=2197445173
[09:28] {ese} see if that works
[09:29] {Threei} inclining to short into initial spike
[09:30] {Threei} FCX
[09:30] {Threei} Short Setup: FCX .50 break
[09:30] {Threei} change to .60 break
[09:31] {Threei} half lot of course
[09:31] {Threei} hardly obtainable
[09:32] {Threei} Short Setup: LVS .20 break
[09:32] {Threei} if stays under .30
[09:33] {Threei} Long Setup: FCX .45 break
[09:33] {Threei} if holdng .35
[09:34] {Threei} LVS invalidated
[09:35] {Threei} FCX, let's tighten to .39
[09:36] {dino} int sm l .25
[09:36] {Threei} out
[09:37] {thomcbell} lvs has some fight in it
[09:37] {Threei} true, looking for long entry
[09:38] {Threei} got away
[09:38] {Threei} Short Setup: X .75 break
[09:39] {Threei} stop .81
[09:40] {Threei} half out .67
[09:40] {Threei} stop to .76
[09:41] {dino} int stop -.33
[09:43] {Threei} Long Setup: LVS .45 break
[09:43] {Threei} stop under .35
[09:45] {Threei} target 1:2
[09:45] {Threei} 1/4 more out X
[09:45] {Threei} .63
[09:45] {Threei} stop to .71
[09:46] {Threei} LVS 1:1
[09:46] {Threei} X last part closed
[09:47] {Threei} LVS target hit
[09:48] {beau} thks vad
[09:48] {Threei} welcome
[09:48] {Les} morning
[09:49] {Threei} ugh SLW
[09:49] {Threei} Les :)
[09:49] {Threei} mised breakdown
[09:49] {Threei} let's see if giveds the setup again
[09:49] {Threei} Short Setup: SLW .20 break
[09:50] {Threei} if stays under .25
[09:51] {rambler} ese, checked out your vid, looked like fun...
[09:51] {rambler} sorry to hear about other news....
[09:52] {Les} I think I had to hide just about all market makers to see correct L2 for slw
[09:52] {ese} was fun ...tks rambler
[09:52] {Les} ah better now
[09:53] {Threei} no go
[09:53] {dino} nfx sm l .52
[09:55] {Les} .15 is half pivot support. Looking for new b/down on SLW
[09:55] {dino} hbc sm l .50
[09:56] {Threei} Long Setup: CAT .05 break
[09:56] {Threei} half lot
[09:56] {dino} int sm l .85
[09:56] {Threei} ummm
[09:56] {Threei} good luck getting that
[09:57] {Threei} if you have magic wand and got it, feel free to exit
[10:00] {dino} icon l .00
[10:00] {Threei} *(US) JAN PENDING HOME SALES M/M: 2.0% V 1.0%E; Y/Y: 10.3% V 4.4% PRIOR
[10:01] {Les} damn SLW
[10:02] {Threei} Short Setup: SLW .40 break
[10:03] {Threei} Long Setup: SLW .50 break
[10:04] {dino} out int .23, +.38
[10:05] {Threei} long it is
[10:06] {dino} out icon .17, +.17
[10:06] {Threei} let's trail to .44
[10:09] {Threei} 1:1
[10:10] {Threei} 1:2, out
[10:16] {Threei} Long Setup: ACC .30 half lot
[10:17] {Threei} if stays above .20
[10:19] {Threei} LVS lost drive
[10:20] {Threei} ignored the whole move up in SPY
[10:20] {Threei} Short Setup: LVS .45 break
[10:20] {Threei} if stays under .55
[10:24] {dino} dndn sm l .60
[10:24] {Threei} no rinsing LVS
[10:24] {Threei} target 1:3
[10:27] {dino} dndn stop -.22
[10:31] {Threei} Short Setup: CAT .40 break half lot
[10:32] {Threei} invalidated
[10:34] {Les} trannies bouncing off Friday's close
[10:34] {Threei} ok LVS
[10:34] {Threei} it's time
[10:38] {Threei} slow boat to bottom
[10:39] {Threei} 1:1
[10:39] {Threei} firast partial
[10:40] {dino} dndn sm l .50
[10:41] {nemo} well, that was our pullback
[10:41] {Threei} *(US) FEB DALLAS FED MANUFACTURING ACTIVITY: 17.8 V 15.5E
[10:41] {nemo} Let the Rally rip!!!!
[10:41] {Threei} balance stopped b/e LVS
[10:41] {Threei} just when it was ready to plunge to second target
[10:46] {Les} LVS really is lame duck in this rally
[10:47] {Les} FCX .50?
[10:47] {Les} if holding .40
[10:47] {Threei} I guess
[10:47] {Threei} hard to tell
[10:48] {Les} late to the party or another weakling?
[10:48] {Threei} no confidence
[10:49] {Les} yeh, don't like it long
[10:50] {Les} RIG DT. 1 min. late
[10:55] {Threei} Long Setup: X .90 break
[10:56] {nemo} new highs today? bear castration coming
[10:56] {Threei} feels this way
[10:58] {Threei} invalidated
[10:58] {Les} WYNN 116.5?
[10:59] {Les} casinos limping in the market winds
[11:00] {Threei} WYNN is beyond my risk tolerance
[11:00] {Threei} you'll have to wait for magoo grand entrance to get a comrade for this kind :)
[11:01] {Les} yeh I saw how it moved. definitely low vol. play. I'll pass :)
[11:01] {nemo} next leg
[11:01] {Threei} X is back on radar
[11:01] {Threei} maybe aggressive was a better idea on it
[11:01] {Threei} and still is
[11:03] {nemo} mmmhhhh...spy regained a trend line I'm plotting
[11:04] {Threei} you teo are scheming together
[11:04] {Threei} two
[11:07] {Threei} will take .85 break
[11:07] {Threei} aggressive
[11:07] {Threei} invalidated
[11:08] {Threei} .80 break with .74 stop
[11:08] {Threei} in
[11:09] {Threei} want to exit half closer to .90
[11:09] {Threei} and try to ride the break
[11:12] {Threei} are you blind X?
[11:12] {Threei} Long Setup: TNA 62 break
[11:12] {Threei} half lot
[11:13] {Threei} stop .88
[11:15] {Threei} 1:1
[11:15] {Threei} half out X .88
[11:15] {Threei} 1:2 TNA
[11:15] {Threei} out in full
[11:15] {Threei} break that .90 X
[11:15] {Threei} stop to .79 odf course
[11:16] {Threei} offer 1/4 more above .95
[11:16] {Threei} awww TNA
[11:16] {Threei} out too soon
[11:16] {andj} HI all...
[11:16] {cipher} nice call
[11:17] {Threei} andj :)
[11:17] {Threei} ty
[11:17] {Threei} TNA was kind of obvious thing,
[11:17] {Threei} X was interesting as far as trade management goes
[11:18] {Threei} catching aggressive entry
[11:18] {Threei} minimal risk, max potential
[11:20] {Threei} 1/4 more out
[11:20] {Threei} .96
[11:21] {Threei} stop to .84 for the last piece
[11:21] {Threei} want to try to something like 28.04
[11:21] {nemo} s[y about to break for new highs, should go another .30 for next target and then to 137.95
[11:22] {Threei} while X makes up its mind, notice one important thing:
[11:22] {Threei} we are successfully utilizing clow climb today
[11:22] {Threei} slow
[11:22] {Threei} adjustment to changing conditions...
[11:23] {Threei} if that's what we have, let's find out how to put it to a good use
[11:23] {vijay} thanks Vad for the commentary helps newbies like me
[11:23] {Threei} leave it to analysts to discuss what should be,
[11:23] {Threei} traders deal with what is
[11:23] {Threei} sure thing vijay
[11:24] {Threei} the rest of tirade is in Taoist Trader so I'll spare you the lecture :)
[11:24] {Threei} out X
[11:24] {Threei} 28.04, as planned
[11:25] {Threei} horrifically early exit on TNA
[11:25] {Threei} I'd beat myself over the head fore that but why bother when nemo is around to provide either a brick or 2x4...
[11:26] {Les} I think I can hear Bear screaming coming through Laser
[11:26] {Threei} lol
[11:27] {Threei} seriously, how many of those non-trader types shorting "fake rally" cringe in pain and discuss manipulation...
[11:29] {Les} with charts Nemo provided, one can see a very logical progression of market as it bounces off s/r.
[11:29] {Les} this bear breaking rally did catch me by suprise
[11:29] {nemo} wow that's an oxymoron
[11:29] {nemo} nemo and logic in the same sentence
[11:30] {Les} not you
[11:30] {Les} the market
[11:30] {nemo} what's interesting is, IWM bounced at support, there was no support for spy. Risk On bounced first
[11:30] {dino} afam drop
[11:30] {Les} good call
[11:31] {nemo} Yeah, can youimagin what your buddy Zero Hedge is thinking
[11:33] {Les} TZA support here
[11:35] {nemo} imo, never look at tza or tna for support and resistance, always go off of IWM
[11:35] {Les} ok
[11:35] {nemo} tza and tna are derivatives of IWM
[11:36] {nemo} btw...iwm has regained the long term trend line I was tracking
[11:37] {Les} i see it
[11:45] {stewy} gd morning
[11:45] {stewy} late start
[11:46] {Threei} morning stewy
[11:46] {Threei} missed a few good ones
[11:47] {stewy} i thot you might have a good start to the wk
[11:51] {dino} bcpc drop
[11:52] {dino} sm l .07
[11:52] {Threei} *(DE) GERMANY LOWER HOUSE (BUNDESTAG) APPROVES SECOND GREEK BAILOUT PACKAGE (AS EXPECTED)- Vote: 496 in favor, 90 against, 5 abstained
[11:57] {dino} out bcpc .42, +.35
[12:11] {Threei} Long Setup: TNA 62 break
[12:11] {Threei} just a quick scalp
[12:16] {andj} is that a double bottom?
[12:16] {Threei} kind of, yes
[12:16] {Threei} no worky
[12:17] {andj} what do you mean worky?
[12:18] {nemo} it was unsuccessful "no worky" Vadspeak
[12:20] {dino} out hbc .84, +.34
[12:22] {Threei} to put it in a sophisticated way: worky = profit, no worky = stop
[12:26] {Threei} Short Setup: X .75 break
[12:26] {Threei} if stays under .80
[12:33] {Threei} aiming for a scalp as well, somewhere between .65 and .70
[12:43] {vijay} Is X still on Vad?
[12:43] {Threei} barely but yeah
[12:43] {vijay} thx
[12:45] {Les} NTES 51 break interesting
[12:45] {Threei} chart's right
[12:46] {Threei} time of the day and the degree of market jellyfishiness is, well...
[12:46] {Les} yep
[12:49] {Threei} out
[12:52] {Les} sm l NTES .99
[12:55] {Les} stop -.15
[13:18] {dino} wdc drop
[13:19] {dino} sm l .60
[13:21] {dino} out flat
[13:22] {dino} sm l .50
[13:23] {andj} Hey dino...what does sm l mean?
[13:24] {Threei} small long
[13:24] {andj} meaning small lot size?
[13:24] {Threei} right
[13:25] {andj} thanks.
[13:25] {dino} yes, 400
[13:29] {Les} NTES rollover
[13:30] {andj} so are you guys looking more for short or long plays right now?
[13:31] {Threei} I personally have no bias at this point
[13:31] {nemo} we look for what's there
[13:31] {dino} doesn't make a difference to me
[13:31] {nemo} dino looks for dead people
[13:31] {dino} lol
[13:31] {andj} so what is there right now?
[13:31] {nemo} fog
[13:31] {andj} Does he see dead people?
[13:32] {Threei} it's a comatose market, surefire recipe for shakeouts on traditional setups
[13:32] {dino} my edge is sharp spikes for shorts, sharp drops for longs
[13:32] {Threei} dino plays stocks that tend to move independently
[13:32] {dino} and, of course i see dead people
[13:32] {Threei} I see dead pixels
[13:32] {nemo} as long as your wife doesn't say that about you to you
[13:34] {andj} so threei does that mean that you mostly trade with the market movement?
[13:35] {nemo} frickin' Les jr.
[13:35] {dino} lol
[13:36] {Threei} well, it's not as simple as long with upward market, short with downward, but yes, market direction dicates most of my plays
[13:36] {dino} wall at .70 wdc
[13:36] {nemo} actually relative strength of stocks to market direction
[13:36] {dino} ice theory
[13:37] {dino} good girl
[13:37] {andj} ice theory?
[13:37] {Les} piss off
[13:38] {Les} not you andj...that's for Nemo
[13:38] {dino} ice theory, on support or resistance. think hammer knocking on ice, the more times it hits the weaker it gets
[13:38] {Threei} Western Digital Corp Hearing M&A blog speculating that the deal to purchase Hitachi's hard drive unit could be facing difficulties
[13:38] {Threei} - Reminder: The EU commission approved the deal in November and in December China officials were said to have concerns about the company's planned acquisition of Hitachi's global storage technologies unit (Hitachi Global Storage Technologies (HGST))
[13:39] {nemo} Ahhhh, Les demonstrating his sesquepedalian Loquacity again
[13:39] {Threei} that's your WDC dino
[13:39] {dino} thx, no worries
[13:39] {dino} andj, see how .70 weakened with hammer hits
[13:40] {andj} I knew that was for nemo...but thanks les...you guys must be old friends (or enemies)
[13:40] {andj} dino what stock are you speaking of?
[13:41] {dino} roflol......wdc
[13:41] {nemo} sorry to drag you into the fray andj...collateral damage
[13:41] {nemo} then again, not really
[13:42] {andj} I may go home and cry
[13:43] {nemo} aren't you home now?
[13:43] {andj} at work ...working at home is the goal
[13:44] {nemo} nice...you can sit and get paid at work and day trade...life's a bitch
[13:44] {andj} except I'm a terrible day trader...so I can make money at work and loose it all in the market
[13:45] {nemo} rig .50
[13:53] {Les} FCX lost 43.75 daily support. Looking lower here
[13:58] {dino} mhs sm s .48
[14:00] {dino} ng, out -.11
[14:01] {Threei} NTES behavior is very illustrative of this time of the day
[14:02] {Threei} shakeout, then working on the next break
[14:02] {Threei} effectively it rinsed two categories
[14:02] {Threei} thosxe who went long on a first break,
[14:03] {Threei} then those who decided breaks are not going to work and shorted next attempt
[14:08] {Threei} wow... non-stop
[14:09] {thomcbell} long setup crm 143.52 half lot
[14:09] {thomcbell} 1/4 lot
[14:09] {thomcbell} lol
[14:09] {thomcbell} disregard it
[14:10] {thomcbell} need to get closer stop
[14:13] {Les} thx for pointing out NTES. Interesting, its behaviour
[14:14] {Les} stopped watching it after it dropped away
[14:44] {dino} took awhile, but out wdc .94, +.44
[14:45] {Threei} wtg
[14:45] {cipher} gj
[14:46] {Les} goes nicely with my setup dino. gotta get more systematic with your calls
[14:49] {Les} sm long FDX .83
[14:49] {dino} ty
[14:49] {Les} stop under .70
[15:02] {Les} half out .90
[15:08] {Les} damn 1:2 offer wasn't snagged at .99. out flat
[15:09] {dino} slow afternoon (again)
[15:10] {Threei} les, why flat?
[15:10] {Threei} don't you trail stop after 1:1?
[15:10] {Les} remained the same
[15:10] {Les} .82
[15:13] {dino} hbc l .91
[15:18] {Les} ...but should have trailed. confidence that X will happen doesn't put money in the account
[15:21] {Les} http://www.telegraph.co.uk/earth/earthnews/9109106/Freezing-winters-ahead-due-to-melting-Arctic-Sea-ice.html
[15:21] {Les} global warming's a bitch
[15:21] {Threei} lol
[15:22] {nemo} if only California and Cambridge MA would sink into the sea
[15:23] {andj} hey dino...do you do mostly day trades? I noticed that you make a lot per trade.
[15:23] {dino} yes, rare i hold overnight
[15:23] {Les} s FDX .68
[15:24] {Les} stop above .80
[15:24] {andj} Let me get out of California first nemo...
[15:24] {Threei} andj, do notice that dino's styl involves very volatile stocks,
[15:24] {Threei} his profits aree genereally bigger, stops are much wider and shares - smaller
[15:25] {cipher} careful with dino's picks...
[15:25] {cipher} you can make a killing or lose your shirt
[15:25] {cipher} happened to me initially
[15:26] {cipher} then I fugured out how to tame the beast
[15:26] {dino} :O; but he is right to warn you. do not follow me blindly. you pull the trigger, you own it
[15:26] {andj} how did you tame the beast?
[15:26] {cipher} trial and error...
[15:26] {cipher} I'm relatively a noob
[15:26] {Threei} beat it over the head with 2x4
[15:26] {dino} he waits until after i enter for a better entry
[15:27] {cipher} been here 3-4 months
[15:27] {cipher} lol dino
[15:27] {cipher} not hat simple :-)
[15:27] {Threei} how long did it take for things to start clicking together cipher?
[15:27] {andj} good question threei
[15:27] {cipher} well not that long...
[15:28] {cipher} I used to trade before
[15:28] {cipher} but the game changed a lot, so had to adjust
[15:28] {dino} constantly adjusting here
[15:28] {Threei} name of the game
[15:30] {Les} fdx stopped -.15
[15:36] {Threei} strange
[15:36] {Threei} normally last hour has some determination and presents opportunities
[15:36] {Threei} not today
[15:36] {nemo} I'm bored
[15:36] {Threei} sorry nemo
[15:36] {nemo} IWM walking daily pivot
[15:37] {cipher} trading is boring by nature
[15:37] {cipher} like fishing
[15:37] {nemo} hunting
[15:37] {cipher} that's why I hate fishing
[15:37] {nemo} I love killing things though
[15:38] {Threei} yeah, I have to fix jaw dislocation caused by excessive yawning about 3 times a year
[15:38] {nemo} There's nothing like watching eyes cloud over as the soul leaves the body
[15:39] {Threei} I think one of Steven King characters said something similar
[15:39] {nemo} He lives a couple of hours away
[15:39] {nemo} goes to a lot of Red Sox games
[15:41] {andj} I don't want to interrupt the conversation but how do you guys choose your stop percentages?
[15:41] {Les} NTES ran outta gas
[15:42] {nemo} visible support and resistance
[15:42] {nemo} then decide how much you want to risk between the entry and stop
[15:42] {nemo} Dino has very wide stops, relatively speaking
[15:43] {Threei} 111 trades, andj
[15:43] {andj} what page?
[15:43] {nemo} slap him
[15:43] {Threei} everything about stop placement is in those setups
[15:43] {andj} sorry...
[15:43] {Threei} no page - each setup dictates it, and there is general article explaining the principle,
[15:44] {andj} does the stop vary according to the price of the stock?
[15:44] {Threei} located at
[15:44] {Threei} http://blog.realitytrader.com/2007/04/stops-why-and-how.html
[15:44] {Threei} no
[15:45] {Threei} stop placement is dictated by chart
[15:45] {andj} I though stops are a money management principle...
[15:45] {Les} FDX rinse... how rude
[15:45] {Threei} they are
[15:45] {Threei} read that article
[15:45] {Threei} you'll find answers tpo all your questions
[15:45] {andj} but not my actual account balance then? I will read it.
[15:46] {Threei} yes, that too
[15:46] {Threei} but that is in that artivcle as well :)
[15:47] {andj} i'm reading right now:)
[15:48] {Threei} as if on purpose, the part tying together account size and stop size is at the very end, lol
[15:49] {Threei} "Germans will have to get used to their new role: We have become the Americans of Europe."
[15:49] {Threei} heh... good one
[15:49] {dino} andj, my stops are wider but my share size is smaller than most. but never take a stop bigger than $250, ideally under $150. it's a 1:1 r/r theory (vad taught me). generally i want .30 on a trade so my stop is around .30 (but check obvious support/resistance and modify a few cents)
[15:50] {dino} mgm drop
[15:52] {andj} so the stop is in place just in case the chart pattern doesn't work
[15:52] {andj} and then also to be sure that it won't kill your account...right?
[15:53] {dino} yes, because if it is not there, you can bet your azz it will kill you
[15:53] {Threei} and it will do so in a very evilish way:
[15:54] {Threei} it will forgive you a few times, to lure you into false sense of safety,
[15:54] {dino} out hbc .94, +.03
[15:54] {Threei} and when you make it a habit to ignore stops "because it always comesa back" - that's when it won't
[15:54] {andj} that's what i'm really worried about. false security.
[15:54] {Threei} and will go against you until it destroys your account
[15:55] {andj} i feel a little smarter...thanks.
[15:55] {Threei} so keep your stop religiously
[15:55] {Threei} it's just not a matter of discussion, thinking or playing around
[15:55] {Threei} your stop is hit - you are out, end of story
[15:55] {dino} anything can happen, thats why i use hard stops
[15:56] {andj} so vad, i', sure the answer will be 111 trades but I still have to ask the question...
[15:56] {andj} how do you choose which chart pattern to go with throughout the day?
[15:57] {Threei} I don't
[15:57] {Les} sigh FDX 1:3
[15:57] {Threei} I can't foresee what kinf od day qwe are going to have
[15:57] {Threei} I start with some working assumption,
[15:57] {andj} well in the present tense?
[15:57] {Threei} and make my first trades based on that
[15:57] {Threei} it confirms itself or not
[15:57] {andj} good job Les
[15:58] {Threei} and I correct the course
[15:58] {andj} the first trade or the market?
[15:58] {Les} fishing analogy andj.... this one got away
[15:58] {Threei} assumption is about market,
[15:58] {Threei} trades are picked according to thatassumption,
[15:59] {Threei} then I see whether market doesa what I expect and whether my tradesd are working
[15:59] {nemo} what about the dart board above the computer?
[15:59] {Threei} quality of assumption changes with experiwnce
[15:59] {Threei} shhhh nemo... couple more words and ypu will give up my most secret weapon, chicken entrails
[16:00] {dino} some days it might as well be the dartboard, lol
[16:00] {nemo} yeah, getting the blood out of the keyboard though...
[16:00] {Threei} well... then there are tea leaves
[16:00] {andj} Thanks:) You guys are never boring...
[16:00] {Threei} ok guys, thank you all,
[16:00] {dino} still like the coin toss in a jam, and don't forget magic 8 ball
[16:00] {Threei} have a good evening, see you tomorrow
[16:01] {stewy} good night all
[16:02] {Les} cheers
[16:02] {dino} gn all
(
Course on chart pattern recognition is available now: http://www.realitytrader.com/111trades.html
Here are the images:
Of course, monthly levels change mid-week. Not sure when I'll have THOSE up. C
Here's the initial post:
http://tradinglog.realitytrader.com/2011/09/nemos-findings.html
- Investors watched in amazement this week as
the DJIA flirted with 13,000 and many wondered just how much longer the equity
rally could last. The Eurogroup has approved the new €130B bailout for Greece,
the PSI private debt exchange is ready to run and default armageddon has been
postponed for the moment. Outside of market frothiness, many are concerned
about growth in the real economy. The EU Commission released forecasts
indicating that the euro zone economy would contract this year, and there was
word that Chinese Premier Wen would announce at the upcoming People's Congress
that China will target GDP of less than +8%, marking the first time in seven
years that China will forecast growth below this key level. Speculation and
Iran tensions pushed oil prices out to concerning levels: the front-month WTI
contract gained more than 6% this week, settling above $109, at its highest
level since last May. Brent crude settled above $125, which could cause major
headaches for heavily burdened European economies. There was little US economic
data on tap, besides a final February U of Michigan confidence that pushed out
to a one-year high and a January new home sales figure that dipped slightly
after four months of steady growth. Looking ahead, the G20 finance ministers
are meeting in Mexico over the weekend, the first of several confabs ahead of
the annual G20 leadership meeting in June. They will discuss, among other
things, ways to bolster funding for the IMF in the hour of Europe's need,
although few officials from outside the continent believe that more resources
should be dumped into the European crisis. Meanwhile, markets will be eager to
hear what the "voluntary" participation rate will be for the Greek
PSI exchange which was formally launched on Friday. For the week, the S&P
500 tacked on 0.3%, the NASDAQ gained 0.4%, and the DJIA rose 0.3%.
- There were some troubling signs among the major retailers reporting this
week. Walmart's Q4 results were disappointing, as revenue missed expectations
and the bottom line was only just in line, excluding some one-time items.
Walmart's guidance included expectations for negative comps in Q1. Kohl's saw
negative comps in Q4 and its Q1 guidance was very soft. Sears' Q4 results were
grim, with comps in the red and profits sinking lower. Shares of Sears rocketed
higher after earnings, however, as the firm announced plans to sell stores and
business units. Other major retailers had a better fourth quarter: Home Depot's
earnings and comps held up well, Macy's met all expectations and Target had
solid results and offered very strong forecasts for Q1 and FY12. On the
conference call, Target said that sales volumes have returned to the strong pre
holiday pace.
- PC makers Dell and Hewlett-Packard reported lackluster quarterly results.
Dell's enterprise business is holding up but sales to consumers continue to
erode. Hewlett-Packard's Q1 profits fell sharply on a y/y basis and the firm's
guidance for Q2 is even worse. Margins shrank, the Europe business came under
major pressure and the firm was still feeling the impact of the Thai flooding
situation. CEO Whitman said she expects to see a better Q2 for the PC division,
but that the company's turnaround will take time.
- In other earnings, shale driller Chesapeake had a mixed Q4 report, with
earnings a bit ahead of expectations but revenue a bit short. The firm's FY12
earnings guidance was pretty solid, and it said it plans to triple Utica oil
shale drilling rig deployments in the next year. Homebuilder Toll Brothers saw
a loss in its Q1, with revenue falling well short of consensus estimates due to
a small decline in deliveries in the quarter. Nevertheless, Toll's backlog and
net signed contract growth was impressive in the quarter, boding well for the
future. AIG reported a substantial profit in Q4, although most of the firm's
gains were from big tax benefits. AIG recognized $17.7B in tax benefits in the
quarter, which dwarfed the $1.6B in operating income from its insurance
businesses.
- The week began with risk appetite weighing upon the greenback in the wake of
the Chinese reserve requirement ratio (RRR) cut, plus optimism that after
months of haggling and heartache, the euro zone would be successful in
assembling the new bailout for Greece. With the threat of a Greek default at
least temporarily off the table, the focus shifted to the question of growth.
Data out this week was not particularly reassuring on this front, and on
Wednesday, the EU Commission's interim forecasts for 2012 officially recognized
that the euro zone as a whole would experience negative growth for the year,
with Spain, Italy, Greece and Portugal all poised for significant economic
contractions. Preliminary PMI data out of euro zone nations reinforced these
negative assessments, with the first look at February manufacturing PMIs mostly
at or below the key 50 level. Note also that the Feb IFO survey in Germany saw
its fourth sequential month of improvement, indicating that there are still
islands of growth in Europe. EUR/USD entered the week around 1.3200 but ended
above 1.3450 by Friday afternoon on the back of the Greek bailout approval and
the formal initiation of the private debt exchange (PSI).
- On Monday the Eurogroup agreed to release €130B fresh bailout funding to
Greece, alongside a 53.5% haircut as part of the PSI exchange. Now euro zone
parliaments need to approve the deal, although the consensus is that there
should not be any stumbling blocks in this phase of the process. Ominously,
German Finance Minister Schaeuble sent a letter to the Bundestag urging support
for the package that stressed Germany might need to consider additional
assistance for Greece in the future. Greece formally launched the debt swap
offer on Friday, and the chief unknown at this point is how many of the
bondholders will participate in the exchange. Greece has threatened to
implement a collective action clause (CAC) as part of the exchange if too few
holders participate, and some fear that doing so would raise the threat of
credit default swaps (CDS) being triggered.
- The BoE minutes initially softened sterling mid-week as the MPC was split on
the amount to increase the asset purchase target. Two members sought more than
the agreed upon amount of £50B. EUR/GBP hit fresh 2012 highs above 0.8500.
GBP/USD was back above the 1.58 by Friday.
- USD/JPY moved above its Aug 2011 intervention high of 80.30 this week.
Japanese officials expressed satisfaction about the softer yen and reiterated
that they would continue to closely monitor developments. Various analysts
noted that the break above 80.30 would ignite more upside potential in the
pair. USD/JPY exited the week at six-month highs and EUR/JPY moved above
108.00, at five-month highs.
- The People's Bank of China helped goose market sentiment over the weekend
with another cut to its reserve requirement ratio. Taking the rate to 20.50%,
this second RRR cut was anticipated as early as the Lunar New Year holiday
period in late January. The subsequent rise in January inflation put near-term
policy easing in doubt, however a fresh round of weakness in the trade data
released last week was seen as a key catalyst for the cut. PBoC officials noted
the latest move will ensure reasonable levels of money supply in the system,
while also affirming the "prudent" stance on monetary policy will not
change. February HSBC flash manufacturing PMI numbers were also received
positively -- while still in contraction territory, a 49.7 print marked a
4-month high. The Shanghai Composite continued its steady climb to close the
week around 2,440, a 3-month high.
- Down under, the Reserve Bank of Australia's February meeting minutes as well
as testimony by RBA Governor Stevens suggested the central bank may take a more
extended pause after two consecutive cuts in cash target rates. RBA minutes
indicated that policymakers are comfortable with rate levels that are
"consistent" with historic averages and would only undertake further
easing if conditions weakened "materially." Governor Stevens noted
that the economy is still in an upswing, with the current stance of monetary
policy now seen as mostly neutral. In Canberra, Australia is headed for a
Labour party leadership vote on Monday after a surprising challenge from former
PM Rudd. Current PM Gillard is widely expected to survive the challenge and
remain in her post until the 2013 general elections.
(
Course on chart pattern recognition is available now: http://www.realitytrader.com/111trades.html
Low volume boring day, Still, room found a few good ones, even though they were few and far between.
Session Time: Fri Feb 24 00:00:00 2012
[08:53] {Les} morning
[08:53] {Threei} morning les
[08:53] {cipher} gm
[08:53] {Threei} cipher :)
[08:53] {nemo} Oh, and I guess I'm chopped liver
[08:54] {Threei} hmmm... where did that come from?
[08:54] {nemo} keyboard?
[08:55] {Threei} cool... I wish I had one
[08:55] {nemo} this rally still has gas: http://www.bespokeinvest.com/thinkbig/2012/2/23/sp-500-sector-cumulative-ad-lines.html
[08:55] {nemo} stop eating them
[08:55] {Threei} I can't... I am addicted
[08:57] {Threei} http://goo.gl/RsUGX
[08:57] {nemo} so there are other sickos like u
[08:58] {Threei} a few
[09:05] {MigC} good morning
[09:05] {Threei} Migc :)
[09:14] {dino} gm
[09:14] {Threei} dino :)
[09:15] {rambler} gm...
[09:15] {Threei} rambler :)
[09:22] {Threei} SPY is threatening breakdown at .90
[09:24] {Les} TZA?
[09:25] {Threei} not pre-market
[09:26] {Threei} opening volatility will make it a losing trade no matter which direction you take, lol
[09:26] {Les} sure
[09:26] {Les} but if we're gonna hit a .90 b/d at the open...
[09:27] {Threei} I guess... just keep it small
[09:27] {Threei} kind of 50/50, let's roll a dice and see if opening spike goes my direction
[09:28] {Les} nah, if you're not keen then I am not
[09:28] {Threei} FCX feels like a better way to do it for me
[09:28] {Threei} its opening drops are more consistent
[09:31] {dino} cvlt?
[09:32] {Threei} Short Setup: FCX .90 break half lot
[09:32] {dino} sm l .95
[09:32] {dino} out .76, +.79
[09:32] {Threei} CVLT Hearing weakness attributed to Dell's acquisition of AppAssure this morning
[09:32] {Threei} wtg
[09:33] {dino} lucky
[09:33] {Threei} FCX starts looking like two-sided
[09:33] {Threei} long it is
[09:34] {Threei} target 1:2
[09:34] {nemo} anybody's nyse quotes stuck
[09:34] {Threei} looks OK
[09:34] {RonS} not here
[09:35] {Threei} no go
[09:36] {Threei} Short Setup: LVS .25 break
[09:36] {dino} nihd sm l .40
[09:36] {Threei} change to .30 break
[09:36] {Threei} if stays under .45
[09:38] {Threei} target around .10
[09:38] {Threei} two partials
[09:41] {cipher} +.15 nihd thx dino
[09:42] {Threei} Short Setup: SLW .10 break
[09:42] {Threei} if stays under .20
[09:43] {dino} int
[09:43] {Threei} strange open
[09:43] {Threei} sluggish trading
[09:44] {Les} waiting for Fed members to speak?
[09:44] {Threei} I don't know... what could they possibly say that we haven't heard 1000 times
[09:44] {Les} we refuse to print more money...
[09:45] {Threei} LVS2half out .21
[09:45] {Threei} .22
[09:45] {Threei} stop to .32
[09:45] {Threei} good one les
[09:45] {Threei} almost like me refusing to eat bacon
[09:46] {Les} un unorderly world
[09:47] {Threei} SLW invalidated
[09:50] {Threei} Long Setup: TNA .45 break
[09:50] {Threei} halg lot
[09:51] {Threei} target .80
[09:52] {Threei} stop under .33
[09:52] {Threei} missed half out near .60
[09:54] {Threei} out
[09:54] {Threei} probably a rinse but
[09:55] {Threei} *(US) FEB FINAL UNIVERSITY OF MICHIGAN CONFIDENCE: 75.3 V 73.0E
[09:55] {nemo} Ann Arbor=Commies
[09:56] {Threei} Short Setup: X .25 break
[09:56] {Threei} stop above .35, target 1:2
[09:59] {Threei} good new home sales
[10:00] {Threei} *(US) JAN NEW HOME SALES: 321K V 315KE
[10:01] {Threei} no go X
[10:02] {Threei} feels like slowq climb starts
[10:02] {cipher} i went long x @ .25 ...pressed the wrong burron
[10:03] {cipher} button
[10:03] {Threei} ,lucky error, lol
[10:03] {cipher} yeah thx
[10:03] {Les} couldn't borrow X
[10:03] {cipher} watching too many things...
[10:03] {dino} internet issues
[10:04] {Threei} Long Setup: FCX .30 break
[10:04] {Threei} if stays above .20
[10:04] {cipher} thx for int dino +.33
[10:05] {dino} gj
[10:06] {dino} int sm l .00
[10:07] {stewy} gd morning
[10:07] {stewy} dang internets again...
[10:07] {dino} icon sm l .53
[10:07] {Threei} stewy :)
[10:09] {Threei} FCX target 1:2
[10:10] {cipher} I have inet 2 providers just in case...
[10:10] {stewy} yup, should do same
[10:11] {dino} int stop -.33
[10:13] {cipher} int feels like it's going much lower
[10:14] {nemo} it's at the 50 day right now
[10:14] {Threei} total jellyfish
[10:14] {cipher} just a gut feeling
[10:14] {Threei} no detrmination whatsoever
[10:15] {cipher} don't like the way it acts
[10:15] {thomcbell} fcx through 44.50 gets real interesting
[10:15] {Threei} it's like market got so tired while reacting on each Greece headline, it needs a breather till it gets its will to live back
[10:15] {Threei} 1:1
[10:15] {Threei} half out
[10:16] {Threei} changing my target to 1:3
[10:17] {Les} been long FCX from .15 as intraday trade
[10:17] {Threei} stop for the balance at .28
[10:17] {cipher} int s .78
[10:17] {Threei} Long Setup: TNA .35 break
[10:18] {Threei} stop under .25
[10:18] {Threei} target 1:3
[10:19] {Threei} sigh
[10:22] {cipher} cov 1/2 .51 +.27
[10:23] {Threei} no feel for the market at all...
[10:24] {cipher} cov rest int .60 feels bottomish
[10:27] {cipher} l ibm .04
[10:27] {Threei} Long Setup: TZA .45 break
[10:27] {Threei} and if this one fails, I will eat my last keyboard
[10:29] {dino} cvlt sm l .55
[10:30] {Threei} if TZA invalidates by breaking .35, will watch for entry under .30
[10:30] {Les} out TNA +.17
[10:30] {Les} no shorting while I'm long please
[10:31] {cipher} out ibm .30 +.26
[10:31] {Threei} how should we know
[10:31] {Les} :P
[10:31] {Threei} be so kind to post your entries if you want us to accomodate you
[10:32] {Les} no you had me scared, maybe I'd read TNA wrong
[10:32] {Threei} so what
[10:32] {Les} almost pulled the plug
[10:32] {Threei} you afraid of mistake?
[10:32] {Threei} shrug
[10:32] {Les} :(
[10:33] {Threei} show me a trader who ckaims being always right and I will show you a fraud
[10:35] {stewy} tza still valid, ya?
[10:35] {Threei} ok TNA
[10:36] {Threei} TZA
[10:36] {Threei} yes
[10:36] {Threei} forms almost perfect C&H
[10:36] {Les} out fcx +.15
[10:36] {Threei} wtg les
[10:36] {cipher} cvlt l .27
[10:36] {Les} market weakening
[10:37] {Threei} TZA, I officially designate you a day fixer or keyboard eater
[10:38] {nemo} market blowing with the wind
[10:38] {Les} half at .41
[10:39] {cipher} cvlt stop .15 -.12
[10:39] {dino} cvlt stop -.30
[10:40] {dino} gild l .76
[10:40] {Les} no that'd be you Nemo. Do up your fly
[10:40] {nemo} why don't you clean the dirt of your knees you sheila
[10:40] {cipher} cvlt l .03
[10:41] {Les} tna
[10:41] {Les} typo sorry
[10:43] {cipher} out cvlt -.10
[10:44] {cipher} rinsed
[10:45] {cipher} l ibm .73
[10:45] {Les} IWM MACD negative crossover signals lining up in multiple time frames
[10:46] {dino} you still short int cipher?
[10:46] {cipher} no
[10:46] {dino} bummer
[10:49] {cipher} out ibm .96 +..23
[10:49] {dino} gj
[10:50] {cipher} l int .22
[10:51] {cipher} out 1/2 .36 +.14
[10:53] {dino} wtf cvlt
[10:54] {Threei} ok TZA
[10:54] {Threei} let's dance
[10:54] {cipher} cvlt stopped -.22
[10:55] {cipher} i meant int
[10:55] {Threei} I was wondering if my quotes were wrong
[11:00] {cipher} int l .92
[11:02] {dino} out gild .89, +.13
[11:02] {Threei} OECD Chief Gurria affirms recent increase in oil prices can be attributed to the turmoil in the middle east region; strategic reserve release would not solve the issue
[11:02] {Threei} duh
[11:02] {Threei} ok
[11:02] {Threei} it's official
[11:02] {Threei} eating my keyboard
[11:02] {Les} sprinkle some bacon on it
[11:03] {Threei} it's a given
[11:03] {Threei} I've zero idea how to read today's action
[11:04] {Les} FCX .50
[11:04] {Les} potential for bull trap before real lift begins
[11:04] {Les} if...
[11:05] {dino} pzza sm l .76 thinny
[11:11] {Threei} Arizona GOP Primary: Romney 42%, Santorum 29%, Gingrich 16%, Paul 8%
[11:13] {cipher} int -.03 shoulda scalped it :-(
[11:22] {Threei} ANR
[11:24] {Threei} looking for a top
[11:24] {Threei} spike over .40 and short .40 rectross if stays under .50
[11:25] {Threei} huh
[11:25] {Threei} look at this
[11:25] {Threei} (US) Fed's Bullard: Home ownership to be viewed as more fundamentally risky for new generation; there is no sense in 'reinflating' the housing bubble
[11:26] {Threei} who would have thought - Fed official woth sense of balance and wisdom
[11:26] {Les} he'll be sidelined or otherwise muzzled
[11:26] {Threei} all we heard from them before was "housing to be boosted back up in order for recovery to take root"
[11:27] {Les} well I guess that counts as something we haven't heard 1000 times before
[11:27] {dino} nfx sm l .50
[11:27] {Les} Doesn't appear to be market mover though
[11:27] {Threei} no
[11:27] {Threei} general musings
[11:28] {Threei} not actionable
[11:29] {RonS} lol...Saw Beyoncé & Jay-Z at the Knicks game this week. They found a last-minute babysitter; the point guard before Jeremy Lin!
[11:29] {Threei} lol
[11:30] {cipher} l ibm .82
[11:32] {RonS} ya know, the real problem w/ calling a bottom in INT is that 69 mil sh are outstanding
[11:32] {RonS} huge volume needs to come in...
[11:34] {Les} short FCX .44 stop .49
[11:37] {RonS} so 3i, did ese get mugged in Ottawa?
[11:38] {nemo} we should get th 137.30 area
[11:40] {Threei} no idea
[11:41] {Threei} I can't remember whether he said a week or two
[11:41] {Threei} - Uncomfortable calm has settled over global markets this morning as Greece begins its debt swap
[11:41] {Threei} very precise
[11:42] {Threei} The prevailing sentiment is that Greece and its euro zone partners have arrested the threat of contagion for the moment, as the debt exchange moves forward and national euro zone parliaments appear prepared to authorize the bailout. Many are wondering, however, whether the PSI exchange or the votes will be completed without further turbulence
[11:43] {cipher} ibm trying to b/o here
[11:43] {RonS} contagion trying to b/o after being arrested...
[11:46] {Threei} lol
[11:46] {cipher} out ibm .70 -.04
[11:46] {cipher} .79
[11:48] {cipher} i feel like breaking something
[11:48] {cipher} keyboard is handy
[11:50] {Les} cover fCX -.05 Aikido time ciao
[11:50] {Threei} - S&P believes that the swap has, at least in this instance, changed the ECB's status from implicit super-senior creditor to an explicit one.
[11:59] {nemo} wonder if this market will ever pull back
[12:00] {Threei} no
[12:00] {Threei} this topping will be done at once when time comes
[12:00] {nemo} I got a ton of stocks at their daily highs and just keep pushing it
[12:00] {Threei} yes
[12:01] {Threei} what I am trying to say is:
[12:01] {Threei} oftentimes tops are made over certain period of time, with this gradual rollover,
[12:01] {Threei} this group, that group,
[12:01] {Threei} pullback, new push,
[12:02] {Threei} until the top is finally made and one of retreats does n't result in new highs
[12:02] {Threei} This particular one is likely to be more like major bottoms are,
[12:02] {Threei} made abruptly, with no warning
[12:03] {Threei} so when it comes it will catch an awful lot of people with their pants around their ankles
[12:06] {Threei} what, you are all taken aback by this incredible nugget of wisdom?
[12:07] {nemo} brilliant as the sun
[12:07] {Threei} I know... I can't even look at myself in the mirror
[12:07] {Threei} wait... could be for a very different reason...
[12:08] {Threei} btw... little birrdie told me, magoo is on his final descent
[12:08] {Threei} expected to land in about a week
[12:09] {Threei} just a fair warning, so you could stock up on your trout shields
[12:09] {nemo} nah! gonna whack him with a big tuna
[12:09] {Threei} Short Setup: ANR .40 break
[12:10] {Threei} if stays under .50
[12:10] {nemo} old smelly one
[12:10] {Threei} well, good defense won't hurt either
[12:10] {nemo} only the newbies will be horrified by magoo
[12:11] {Threei} Long Setup: AIG .55 break
[12:11] {Threei} argh
[12:11] {Threei} late
[12:12] {Threei} ok, back
[12:12] {Threei} valid'
[12:12] {Threei} stop under .45
[12:12] {nemo} might have tza "scalp" potential here, but lunch
[12:17] {Threei} lwet's train ANR to .46
[12:17] {Threei} out
[12:18] {Threei} AIG target 1:2
[12:18] {Threei} 1:1
[12:18] {Threei} half out
[12:20] {Threei} ANR fakeout... typical
[12:31] {Threei} Long Setup: TZA .20 break
[12:31] {Threei} if stays above .15
[12:35] {thomcbell} ua 84.61 long break
[12:36] {thomcbell} if holds 84.50
[12:37] {thomcbell} target 1:4
[12:38] {Threei} nice chart
[12:41] {nemo} lunchtime breaks...oy vay
[12:47] {nemo} kinda' got a double top there hop you partialed
[12:55] {Threei} just when we thought there is chance for fed to be reasonable:
[12:56] {Threei} (US) Fed's Bullard: QE3 could be reasonable if the outlook deteriorates
[12:56] {Threei} seriously?
[12:56] {Threei} gas prices are not high enough?
[12:56] {thomcbell} bored as anything ua but 1:2
[12:56] {Threei} yup, moves nicely
[12:59] {dino} tngo spike
[13:04] {thomcbell} ua 1:3
[13:05] {Threei} vrey nice
[13:05] {nemo} especially for lunch time
[13:07] {cipher} out ua .90 +.20 thx thomb
[13:08] {thomcbell} i just sold 1/2
[13:08] {thomcbell} at 0.90
[13:10] {cipher} does anyone get stale qutoes with laser once in a while?
[13:11] {thomcbell} out ua
[13:11] {cipher} sometimes l2 just freezes while other quotes are updating fine...
[13:12] {cipher} happens espacially w/ pulp stocks
[13:15] {cipher} tngo hod
[13:17] {cipher} +.30 tngo thx dino
[13:18] {dino} gj
[13:20] {cipher} red ink got greatly reduced :-)
[13:23] {nemo} fcx
[13:23] {cipher} are u a buyer?
[13:24] {nemo} I'm a watcher...vwap is at .34
[13:24] {nemo} that's a tight range...so depending on where momo goes this afternoon
[13:25] {cipher} i guess spy will decide where it goes
[13:25] {Threei} VVUS
[13:26] {nemo} watch spy iwm vwaps for bounce
[13:34] {nemo} tna here a try
[13:39] {Threei} Short Setup: VVUS .10 break half lot
[13:39] {Threei} if stays .20
[13:39] {Threei} target 1:4
[13:40] {Threei} 1:1
[13:45] {Threei} scalpers win almost every time today
[13:50] {Threei} Short Setup: VVUS 21 break
[13:51] {Threei} if stays under .15
[13:51] {Threei} this one should be good
[13:51] {Threei} much better reversal formation
[13:53] {Threei} half out
[13:53] {Threei} stop to .05
[13:54] {Threei} try for 1/4 more near .70 - .75
[13:54] {Threei} and last part between .50 and .60
[13:54] {cipher} i'm out thx
[13:55] {Threei} ok... I want more, lol
[13:55] {Threei} I have more to fix
[14:06] {dino} gtls drop
[14:08] {dino} sm l .45
[14:08] {cipher} +.17 gtls thx
[14:08] {dino} lol, fast
[14:08] {cipher} scalpers day gotta move fast :-)
[14:08] {dino} i'm going to have you hire me cipher
[14:09] {cipher} we would make a good team together i think....
[14:10] {dino} yeah, you're the only one with cajones to go in before i do
[14:12] {dino} out gtls .72, +.27
[14:12] {cipher} gj
[14:12] {dino} damn too soon
[14:13] {cipher} i got better enrty you got better exit....
[14:13] {cipher} we should def team up :-)
[14:13] {dino} you seem to "see" things i see
[14:13] {dino} cemp spike
[14:14] {nemo} mmmmmhhhhhh.....
[14:14] {nemo} the "I see dead people" comment should be coming any time now
[14:15] {dino} lol, was thinking that
[14:17] {cipher} one more play like gtls and my day is fixed
[14:17] {dino} nfx stuck, out .70, +.20 for hours
[14:18] {nemo} We need a tza reverse split
[14:20] {dino} lol
[14:20] {cipher} gtls s .78
[14:24] {dino} mkt drop
[14:26] {dino} 07 red
[14:27] {nemo} at iwm trned
[14:28] {cipher} stopped -.08
[14:29] {cipher} rinse
[14:30] {Threei} I can't be the only one finding this line beyond funny
[14:30] {Threei} (SY) "Friends of Syria" meeting said to have concluded to agree that an Arab and UN force was necessary within Syria
[14:30] {Threei} what do enemies of syria find then?
[14:31] {dino} out icon .68, +.15 for hours
[14:34] {dino} out pzza fkat thing doesn't move
[14:34] {RonS} thin crust...
[14:35] {dino} lol, definintely not rising crust
[14:35] {Threei} lol
[14:36] {nemo} coming into spy trend line .12 above iwm WPP
[14:36] {dino} well, as much fun as today has been, knocking off early. 4" fresh snow, may do a bit of snow shoeing
[14:37] {Threei} yikes
[14:42] {Threei} I really ant to see selling resuming and panic sending us into red at the close
[14:42] {Les} .
[14:43] {Threei} ant = want
[14:45] {Les} how was this last hour?
[14:46] {Threei} guys found a few good ones... I found a small scalp... overall though I today am useless like ax in the middle of desert
[14:47] {Threei} but wait till magoo gets back in action... he will be all over VVUS kind
[14:48] {Threei} UA by tbell was beautiful
[14:48] {thomcbell} tu vad
[14:49] {Threei} well deserved.. I value winning play but even more do I value winning play on such clean setup
[14:52] {Les} VA?
[14:53] {Threei} ?
[14:53] {Les} no ticker VA
[14:54] {Threei} U
[14:54] {Threei} not V
[14:54] {Les} ah sorry
[14:55] {Les} 85 break?
[14:55] {Les} tbell?
[14:56] {Threei} 12:35] {thomcbell} ua 84.61 long break
[14:56] {Threei} [12:36] {thomcbell} if holds 84.50
[14:56] {Threei} [12:37] {thomcbell} target 1:4
[14:56] {Les} ow wow
[14:56] {Les} nice break
[14:57] {Les} TZA closing in on .50
[14:59] {thomcbell} ua day high
[14:59] {thomcbell} daily chart looks powerful now
[14:59] {Les} fcx .07 l stop above 44
[15:00] {Les} half out .12
[15:05] {thomcbell} long break AET 46.90 if holds 46.85
[15:09] {Les} another quarter .14
[15:15] {Les} last quarter flat
[15:22] {thomcbell} aet a serious paint drying exercise
[15:22] {nemo} http://www.freestockcharts.com?emailChartID=f6e032ed-31d2-4f1b-a2bd-d27b9548bff0
[15:22] {nemo} oos sorry
[15:23] {nemo} spy bounced right at trend now IWM is walking up with the previous trend line as resistance
[15:23] {Threei} Long Setup: ANR .50 break if stays above .40
[15:24] {nemo} now that's a ballsy play late on a Friday afternoon
[15:27] {RonS} outta here...see youze monday...
[15:27] {Threei} have a good one Ron
[15:27] {Les} ciao
[15:38] {Threei} ANR is valid
[15:39] {thomcbell} fcx near pivot here at 43.83
[15:39] {nemo} yeah, now you're running into a time issue
[15:39] {Les} bullish divergence here FCsx
[15:39] {Les} FCX
[15:40] {Les} but don't want to try for scalps now
[15:40] {Threei} should have taken aggressive 10 cents ago, but fell asleep
[15:40] {nemo} oh yeah, setup is there how many buyers and sellers haven't left for the weekend
[15:41] {Threei} change of plans
[15:41] {Threei} in .41
[15:42] {nemo} http://www.weeklystandard.com/blogs/geithner-privilege-being-american-why-rich-need-higher-taxes_631859.html
[15:43] {Threei} I have better one
[15:43] {Threei} http://www.couriermail.com.au/news/breaking-news/aussie-woman-scammed-nigerians-court/story-e6freonx-1226279598283
[15:44] {Threei} half out .46
[15:46] {Threei} .39 stop
[15:46] {Threei} come on... even this is merelya tiny scalp?
[15:47] {Threei} lol
[15:47] {Les} I reckon the US should heavily tax guns
[15:47] {Les} I wonder how much deficit they could fix with nuts like Nemo
[15:48] {Les} Brisbane, my old stomping ground
[15:48] {Threei} none... they'd just shoot tax collectors
[15:48] {Les} LOL
[15:50] {nemo} I don't have that many Les...just the right ones
[15:52] {nemo} What are those big birds that look something like Ostriches?
[15:52] {Les} Emu
[15:52] {nemo} no, in Oz
[15:52] {Les} EMU
[15:52] {Threei} cangaroos
[15:52] {nemo} there's another name
[15:52] {nemo} They're up in Queensland
[15:53] {Les} Cassawaries
[15:53] {Les} cassowary
[15:53] {Les} tropical bird
[15:53] {Les} emu
[15:53] {Les} plains, desert
[15:53] {nemo} that's it
[15:54] {nemo} they're up in the tropical areas too dude, saw them everywhere
[15:54] {Threei} not cangaroo?
[15:54] {Threei} I always knew botany wasn't my gig
[15:54] {nemo} oy vay
[15:54] {Threei} {G}
[15:55] {Threei} OK guys, these last two days are gruelling, very boring and volume is pathetic
[15:55] {nemo} http://australian-animals.net/casso.htm
[15:55] {nemo} frickin vvus
[15:55] {Threei} first two dasy of the week were great
[15:55] {Threei} gotta get nice rest and kill them next week
[15:56] {Threei} have a great weekend, see you monday
[15:56] {Les} what, you wanna hunt these things Nemo?
[15:56] {Les} cheers vad
[15:57] {nemo} no
[15:58] {stewy} tgif
[15:58] {stewy} have a great wknd everyone
