Apr 23 2012

Perfect trading day with very good percentage of nice wins and one or two very tightly controlled stops. Good way to start a week, very smooth sailing with easy entries and clear exits.

Session Time: Mon Apr 23 00:00:00 2012

[08:29] {nemo} I'm having deja vu

[08:51] {Threei}  yawn

[08:53] {Threei}  - Germany Government Spokesman commented that Chancellor Merkel continued to support Sarkozy in French election

[08:53] {Threei}  sheesh... hpw is it even a question

[08:53] {Threei}  head of one state csmpaigning in election of another? enouhg to start war

[09:03] {dptl} gm

[09:05] {Threei}  dp :)

[09:06] {scottie} good morning

[09:06] {Threei}  scottie :)

[09:07] {nemo} mmmhhhh....the jokes in that name

[09:07] {scottie} ?

[09:09] {nemo} Star Trek

[09:09] {nemo} I go back that far

[09:09] {scottie} Beam me up

[09:10] {scottie} I've been reading the trading log for a few weeks

[09:10] {scottie} Can't wait to jump in with you guys

[09:10] {scottie} But remember, I'm here to learn.

[09:10] {nemo} well, if history repeats, Vad is about to embark on an epic run

[09:10] {ese} morning

[09:10] {Threei}  ese :)

[09:11] {nemo} I'm so excited, the world is ending

[09:11] {ese} how was your weekend.......

[09:11] {ese} huh?

[09:11] {ese} what are you reading now nemo

[09:11] {Threei}  beautiful weekend

[09:11] {Threei}  seasoning new smoker

[09:12] {ese} definitely.....got alot of work done aroudnd here

[09:12] {nemo} Nice Vad, you might want to dig out a good recipe for humans

[09:12] {ese} ahhhhhhhhh

[09:12] {nemo} look at wmt

[09:12] {nemo} tempting long here

[09:12] {ese} someone pee in your cornflakes this morning nemo?

[09:12] {nemo} .64

[09:13] {nemo} why ese

[09:13] {ese} ohhhh....I dunno......world is ending...barbecue humans........i dunno.......

[09:14] {nemo} I've been telling you guys for 3 years this was coming

[09:14] {ese} what is....i'm missing something

[09:15] {nemo} you're a frickin' musician....alot

[09:15] {ese} come on buddy...cut me in.....what news item did i miss

[09:16] {Threei}  Europe mostly

[09:16] {Threei}  France election and Dutch problems

[09:17] {ese} hmmmmm  knew about the election...what happened...was power washing my back deck.......can eat my bacon and eggs of it now

[09:18] {Threei}  Hollande is ahead after first round

[09:19] {nemo} Dutch government collapsing

[09:19] {ese} what'd they do?

[09:21] {ese} ok got itThe Dutch government was close to collapse on Monday, with the prime minister widely expected to resign after top-level talks on an austerity package failed.  

[09:22] {ese} this is good to see.......these right wing freaks that have been in power all over the planet need to have the boot put to them

[09:23] {dino} gm

[09:23] {Threei}  dino :)

[09:23] {ese} dino

[09:31] {Threei}  watching FCX for short into bounce

[09:31] {nemo} .36 QPP in spy

[09:33] {Threei}  starts looking like long first

[09:33] {Threei} Long Setup:  FCX  .55 break hl

[09:33] {nemo} yeah, looks like spy might try to bounce

[09:33] {Threei}  stop under .45

[09:34] {Threei}  target 1:2

[09:35] {nemo} don't like those wicks

[09:35] {Threei}  stubborn seller at .55

[09:35] {Threei}  should explode if/when he lifts

[09:36] {Threei}  seems to be about done

[09:37] {Threei}  or he just moved to .56

[09:38] {Les} what are we in?

[09:38] {Threei}  let's trail to .49

[09:38] {Threei}  FCX

[09:38] {Les} .60 break?

[09:38] {Threei}  .55

[09:39] {dino} ndx 2670 filled

[09:40] {Les} 61.8% fib support oct thru feb rally

[09:40] {Threei} Long Setup:  LVS  .20 break hl

[09:40] {Threei}  if stays above .10

[09:41] {Threei}  invalidated but getting close

[09:42] {Threei}  56 break

[09:42] {Threei}  stop under .90

[09:42] {Threei}  1:1

[09:42] {Threei}  should do more

[09:43] {Threei}  1:2

[09:43] {thomcbell} target 1:15 lvs

[09:43] {thomcbell} lol

[09:44] {Threei}  out FCX

[09:44] {cipher} out lvs +.21 thx

[09:44] {Threei}  wow

[09:44] {Threei}  what's up SPY

[09:44] {Threei}  cipher :})

[09:45] {Threei}  out LVS in full .35

[09:45] {Threei}  (HU) Hungary PM Orban: Unclear when IMF discussions could begin but EU/IMF must drop any preconditions

[09:48] {Threei} Long Setup:  TZA  .25 break

[09:48] {Threei}  stop .17

[09:49] {Threei}  aggressive entry, play for SPY .30 break

[09:49] {Threei}  1:1

[09:49] {Threei}  half out

[09:49] {Threei}  should be more in it

[09:50] {Threei}  stop .23

[09:53] {Threei}  1:2, 1/4 more out

[09:53] {Threei}  stop .24 still

[09:53] {Threei}  want to give it just a tad more breathing room than usual

[09:57] {Threei}  wow

[09:57] {Threei}  was wathcing FAS,

[09:57] {Threei}  with .50 break long in mind

[09:57] {Threei}  fat chance, lol

[09:59] {Threei}  stop to .29

[10:02] {Threei}  decisive moment

[10:02] {Threei}  all out breakdown or bounce starts forming

[10:04] {Threei}  here we go

[10:05] {Threei}  stop tp .35

[10:05] {Threei}  choking it now

[10:06] {Threei}  stop to .39

[10:06] {Threei}  and looking to exit into spike above .50

[10:08] {dptl} hal .50 short?

[10:08] {Threei}  too narrow for my taste

[10:09] {dptl} k

[10:10] {Threei}  stop to .44

[10:10] {Threei}  time to resolve this standoff

[10:12] {dino} swk sm l .40

[10:12] {Threei} Long Setup:  IWM  .40 break

[10:12] {Threei}  if stays above .30

[10:13] {dino} ezpw sm l .61

[10:13] {Threei}  closed TZA

[10:14] {nemo} can do uwm long too

[10:14] {Threei}  1:1

[10:15] {Threei}  I am not sure I understand UWM

[10:15] {Threei}  is it 2x while IWM is 3x?

[10:15] {nemo} yes 2x, I trade tza/tna uwm off of IWM anyway

[10:15] {nemo} like upro off of spy

[10:15] {Threei}  why is it down the same amount as IWM then?

[10:16] {nemo} they are just leveraged versions of iwm, look at difference in stock price.  

[10:16] {nemo} proportionally, it's greater

[10:16] {Threei}  yes, it's mismatch between price and magnitude of movement that puzzles me

[10:16] {nemo} iwm 78, uwm 39

[10:17] {nemo} shouldn't, look at the price difference in the issue

[10:17] {Threei}  it should be down about 80 cent to a buck

[10:17] {nemo} remember, tna did a 2:1 split last spring, that's why it's close to iwm

[10:17] {Threei}  not 1.70

[10:17] {Threei}  ok, whatever

[10:17] {nemo} well, the leverage doesn't match perfectly

[10:17] {Threei}  leaving it to academics

[10:26] {nemo} LVS?

[10:27] {Threei}  no clear setup

[10:28] {dino} hig l .78

[10:28] {nemo} was thinking bull flag

[10:37] {Threei} Long Setup:  SLW  .20 break

[10:38] {dino} swk to .80

[10:38] {Threei}  if stays above .10

[10:38] {dptl} in

[10:38] {Threei}  target 1:2

[10:39] {dino} to .90

[10:40] {dino} out swk .90, +.50

[10:40] {Threei}  wtg

[10:40] {dino} ty

[10:43] {ese} nice dino

[10:43] {dino} hig to .90

[10:43] {dino} ty ese

[10:44] {dino} out hig +.12

[10:45] {ese} L bont.97

[10:45] {ese} that one might be up your alley as well dino ..

[10:46] {Threei}  lwt's trail to .14

[10:46] {ese} 1/2 lot by the way

[10:49] {Threei}  1:1

[10:49] {dptl} half out

[10:49] {Threei}  stop to .19

[10:50] {ese} nice work vad/dp

[10:51] {dino} chkp sm l .50

[10:58] {dptl} can we trail under .24 now Vad?

[11:00] {Threei}  sure

[11:00] {Threei}  just 2 cents to 1:2

[11:02] {Threei}  1:2

[11:02] {Threei}  out

[11:02] {dptl} out ty

[11:02] {Threei}  smooth sailing today so far

[11:03] {andj} Hey Vad

[11:04] {Threei}  morning andj

[11:04] {andj} How are you??

[11:04] {Threei}  excellent... too bad you missed this morning

[11:04] {Les} well I missed 'em, so you don't get to go home yet

[11:04] {Threei}  wow, SLW had more in it

[11:04] {Threei}  huh... why did you?

[11:04] {Threei}  you were here

[11:05] {andj} Good start...I take it?

[11:05] {Les} nah taxi dad

[11:05] {Threei}  oh

[11:05] {Les} no surprise to SLW upside

[11:05] {Les} its daily is outside BB's

[11:05] {Threei}  hmmm

[11:05] {Threei}  inside on mine

[11:06] {Threei}  just touched lower envelop today

[11:06] {Les} oh crap right. using 1 min settings

[11:07] {Threei}  lol

[11:07] {Les} just flipped the time frame over

[11:07] {Les} makes for a very dramatic move

[11:08] {dino} chk to .99

[11:08] {Les} .50 b/d?

[11:09] {dino} to .25

[11:09] {Les} where's the fish?

[11:09] {dino} out +.75

[11:09] {dino} chkp

[11:11] {Les} FCX Vad

[11:11] {Les} .50 b/d or potential c&h?

[11:12] {Threei}  both

[11:12] {Les} stochastics suggesting a pullback here

[11:12] {Threei}  but breakdown wins my "like"

[11:12] {Les} if it stops

[11:13] {Threei}  if it invalidates by breaking .60, look for another area to short between .70 and .80

[11:15] {dino} meli smr l .25

[11:19] {ese} thats a nice lookin chart chkp

[11:20] {dino} yes, i ran stop too tight

[11:26] {Threei} Long Setup:  TZA  .30 break

[11:26] {Les} .62 was fcx top. was tempted...

[11:27] {Threei}  if stays above .25

[11:28] {Les} RIG .20 b/d?

[11:29] {scottie} Iz TZA still valid?

[11:29] {Les} or two way?

[11:30] {Threei}  I like TZA still

[11:30] {Threei}  RIG more looks like long

[11:31] {dino} dhi gap fill

[11:36] {Threei}  RIG works on a long side if you took it

[11:38] {Les} missed it frikin around with ski hire that needs returning. Frikin end of Easter holidays...

[11:39] {Les} TNA

[11:39] {Les} 15 min says up

[11:39] {Les} need to grab it on a pullback

[11:47] {Threei}  can't tell the direction here

[11:50] {dino} meli stop to .98

[11:58] {cipher} cat l .50

[12:00] {dino} ezpw to .74

[12:01] {dino} out +.13

[12:01] {cipher} out cat +.10 ave

[12:08] {dino} dhi l .35

[12:09] {dino} meli to .73

[12:11] {dino} out meli ave .75, +.40

[12:11] {dino} opps, +.50

[12:11] {Threei}  nice

[12:11] {cipher} wtg

[12:11] {dino} ty

[12:11] {dino} brb

[12:20] {ese} have a great all.....still long bont.97 cya tomorow

[12:30] {Threei}  volume all but disappeared

[12:30] {nemo} everything grinding up, they couldn't break the month lows so the shorts are getting out of Dodge

[12:33] {andj} Why is it that TNA and TZA are so correlated to SPY? 

[12:33] {nemo} time to beam us up scottie

[12:33] {nemo} andj, they are DIRECTLY related to IWM

[12:33] {Les} IWM andj, IWM...

[12:33] {scottie} damn teleporter doesn't work

[12:34] {nemo} send a frickin' shuttle

[12:34] {scottie} Out of gas

[12:35] {nemo} you're fired

[12:35] {nemo} frickin' don't use gas

[12:35] {nemo} dilithium crystals you moron

[12:36] {scottie} Oh, that's why it doesn't work. Thanks for the tip nemo

[12:36] {nemo} I need a Romulian disrupter

[12:37] {dino} i remember that episode, "scottie, i need warp power in 3 minutes or you're fired"

[12:37] {Threei}  next thing to come up is chronoclastic incundibulum

[12:38] {scottie} If it were that easy in real life!!

[12:38] {nemo} I'm heading for the event horizon

[12:39] {Threei}  huh... there are people in ECB that understand AND speak the truth

[12:39] {Threei}  (EU) ECB's Weidmann: Inflation may be rising faster than predicted by the IMF; markets may be overestimating sovereign risks at this point- ECB's firepower is not unlimited. - Reiterates that monetary policy can only buy more time, not solve the crisis. - Warns that nations cannot borrow their way out of debt. - More clarity is needed on the direction to be taken by monetary union. - No nuclear option exists on the European firewalls

[12:39] {Threei}  who knew

[12:39] {scottie} Anyone can tell me why the little green and blue icons on the right

[12:40] {nemo} Vad, we were having a perfectly good, irrelevant conversation, and you have to interrupt with real life...wtf!

[12:40] {Threei}  sorry nemo

[12:40] {Threei}  scottie... where?

[12:40] {nemo} the shuttle vad

[12:40] {scottie} On the right hand side of the chat screen, with the names

[12:41] {nemo} oh, mibbet

[12:41] {Threei}  sorry, no idea... I don't use mibbit

[12:41] {Les} looking for TZA setup here

[12:42] {Les} DB maybe?

[12:42] {Threei}  if it pulls back to about 20.05, certainly

[12:44] {scottie} Thought we all were on mibbit.

[12:44] {scottie} I go there by defoult when I sign in.

[12:44] {Threei}  some use mirc

[12:44] {nemo} only the plebes

[12:44] {scottie} default

[12:46] {nemo} lvs short?

[12:46] {nemo} yep, nevermind

[12:47] {Threei} Short Setup: RIG  .60 break

[12:47] {Threei}  just a scalp most likely

[12:48] {Les} MACD almost lined up multi time frame for RIG short. Could be for more than scalp

[12:49] {Les} watching .46 half pivot support

[12:51] {Threei}  I am out

[12:51] {Les} 3/4 out

[12:51] {Threei}  if you pertial, go by the book

[12:51] {Threei}  partial too

[12:52] {Les} greed is partialed by fear - 3/4 off was the trade off :)

[12:52] {nemo} these are important levels on both spy and iwm

[12:53] {Threei}  this is very good approach Les

[12:53] {Threei}  I mean not exact 3/4 or whatever, but the general idea:

[12:54] {Threei}  here is standard A, here is standard B,

[12:54] {Threei}  you are not confident which of them is applicable - take the safest route with some room for potential still

[12:54] {Threei}  3/4 from standard A, 1/4 from B

[12:55] {Threei}  secure most of profits, see if can squeeze more from the leftover

[12:55] {Les} Yeh watched myself quit too early too many times, while your trades ride off to 1/3

[12:57] {Les} stop to .56

[12:58] {Les} out

[12:59] {Les} one more bounce and it might be a great short setup

[13:09] {nemo} iwm spy are setting up long, whether they go there, I'

[13:09] {nemo} m not sure

[13:11] {dptl} dhi db?

[13:12] {dino} maybe. good report/guidance

[13:12] {Threei}  (GR) Germany IFO director Sinn reiterates it is unlikely Greece will regain competitiveness while remaining within the Eurozone **REMINDER 2/17: 02/17 07:45:24 : (DE) German IFO's Sinn: Reiterates view that it is in Greece's interest to leave the EMU; no way that Greece can become competitive in the euro zone

[13:13] {Threei}  I think it's a DBI rather than DB

[13:13] {dptl} k

[13:25] {nemo} boy, they're smacking every break

[13:35] {Threei} Short Setup: DHI  15 break

[13:35] {dino} fire sm l .00

[13:40] {scottie} What is the stop on DHI

[13:40] {nemo} .05 for scalpers. 10 for daytraders

[13:41] {nemo} fcx gonna close the gap

[13:45] {Les} TZA getting interesting

[13:46] {nemo} I'd say cree long here but market too week

[13:49] {dino} chkp sm l .95

[13:52] {nemo} ride that one dino

[13:53] {dino} chkp to .48

[13:54] {Threei}  half out DHI

[13:54] {dino} to .55

[13:54] {Threei}  protect in case SPY double-bottoms here

[13:54] {dino} to .65

[13:55] {nemo} mmmhhh...ctsh long here?

[13:55] {dino} out chkp .75, +.80

[14:09] {dino} gj dhi vad

[14:09] {Threei}  :)

[14:09] {Threei}  dptl's find actually

[14:10] {dino} i was stopped long earlier, let fundys interfere w/tape read

[14:11] {Threei}  there is a good reason none of can even spell "fundamentals" (had to copy and paste it)

[14:13] {dino} fire to .40

[14:15] {dino} to .50

[14:16] {dino} out +.49

[14:17] {dino} 12849 dji gap filled

[14:19] {dino} rally

[14:20] {dino} 07 green and we are spiking

[14:20] {Threei}  I see no news

[14:21] {dino} i just see 25 scrolling flashes of green

[14:31] {Les} db tza?

[14:33] {Threei}  hard to tell

[14:33] {Threei}  waiting for something more clearly defined

[14:43] {Threei} Long Setup:  TZA  20 break

[14:43] {Threei}  if holds .90

[14:46] {andj} .

[14:48] {Threei}  come on TZA, do a bit gooder than this

[14:56] {Threei}  stop to .94

[14:59] {Threei}  half out

[14:59] {dino} mack drop

[15:00] {Threei}  stop .99

[15:01] {Threei}  scottie... I suspect it's for your first day... market decided to greet you qith the easiest profits possible

[15:02] {scottie} 5 winners out of 7 trades.

[15:02] {scottie} thanks a lot

[15:02] {Threei}  not too shabby

[15:02] {scottie} I'm just scalping for the moment. Need to build confidence

[15:05] {andj} Yea thanks Vad...

[15:05] {Threei}  welcome guys

[15:05] {Threei}  today we are a windshield

[15:13] {Les} new TZA setup if we're all out?

[15:13] {Threei}  half is still here

[15:13] {Threei}  never hit either stop or 1:2

[15:14] {Les} I was already in .96 when you made your call. Forgot to take off .05 sell order

[15:15] {Les} looks like no 2nd entry. mtf MACD negative crossover

[15:20] {scottie} When you put your stop at .99 do you trigger when the bid is at .99 or do you wait until there is a transaction at .99

[15:22] {Threei}  print at .99

[15:34] {Les} time for an LVS reversal setup here?

[15:34] {Threei}  hmmm

[15:35] {Threei}  no setup that I see

[15:35] {Les} s2 is .93

[15:36] {Les} no, no setup. Just LVS getting ahead of itself. WYNN is stuck under VWAP, which for LVS is .44

[15:37] {Threei}  let's see if gives us double top

[15:47] {Les} c u's tomorrow

[15:55] {Threei}  ok guys, thank you all

[15:55] {Threei}  have a great evening, see you tomorrow

[15:55] {dptl} gn

[15:55] {scottie} thanks, see you tomorrow

[15:56] {dino} sprd spike

Nemo's Findings for the week of 4/22

(Course on chart pattern recognition is available now: http://www.realitytrader.com/111trades.html  

Here's a look back at how the levels matched up with the action this past week:

 notice in the IWM pane how the turquoise colored retracement level is playing a role?  Remember how often I commented as the market was going up how that Fib. retracement series was significant?  Might be worth watching...



Here are the levels for next week:

Here's the original post:

http://tradinglog.realitytrader.com/2011/12/multi-time-frame-pivot-analysis.html

Market Week Wrap-up

Market Week Wrap-up

- Global markets were volatile this week as crosscurrents from US earnings reports, European peripherals, sovereign debt auctions and Chinese rumors kept sentiment very unsettled. In Europe, investors prepared for the worst ahead of French, Spanish and Italian auctions on Tuesday and Thursday, although the sales were oversubscribed (and featured higher yields). Nevertheless, Spanish and ECB officials insisted that Spain would not need a support program, while officials from beyond the euro zone suggested that it would be difficult for Spain to avoid a bailout. In core Europe, some decent UK March employment data and the sixth sequential month of improvement in Germany's April IFO survey helped put the FTSE and DAX solidly in the black for the week. Earnings out of major US banks were not especially good and troubling trends in a spectrum of major tech firms kept the Nasdaq weak. Apple was a real wildcard this week, with several sessions of 5% swings in the shares. AAPL closed out the week in correction territory, more than 10% below its recent all-time highs. Outside of tech, corporate earnings have largely been strong. In Asia, there was further speculation about a cut to the PBoC's reserve ratio requirement after the March new home prices data saw another round of big declines. On Wednesday, Rio Tinto, BHP and Vale all reported that their quarterly iron ore production slid sharply on a sequential basis (although all three blamed factors besides the slowdown in China). For the week the DJIA gained 1.4%, the S&P500 rose 0.6%, while the Nasdaq lost 0.4%.

- Results out of major US banks Citigroup, Bank of America, Goldman Sachs and Morgan Stanley did not inspire much confidence this week. While the headline numbers from the four firms were in line with or above consensus expectations, analysts found plenty to question in operating metrics. Citi had the least bad report, with a nice sequential gain in investment banking income and healthy growth in loans and deposits. Goldman delivered lower y/y VAR totals, investment banking revenues, fixed income and trading revenues and a big reduction in risk. The one big revenue gain y/y was in financial advisory and stock trading for clients. Much was made in the financial news media about the "strong" results from Bank of America and Morgan Stanly. However, debt valuation adjustments (DVAs) had a huge impact for both banks as narrowing credit spreads forced both to take sizable one-time accounting charges. Including a big $2B DVA, Morgan Stanley lost money in the quarter (-$0.06/shr), but excluding the DVA the firm made $0.71. At BoA, including the $4.8B DVA the firm made $0.03, but ex DVA it made $0.31. Morgan saw a big bounce back in trading revenue, which was well over twice the figure seen in Q4. However, overall investment banking revenue was flat sequentially and actually declined on a y/y basis, very much reflecting the trends seen at JP Morgan and Goldman.

- Insurance name Travelers crushed expectations as price gains continue to support strong quarterly results. American Express was solidly in line, however investors did not like the decline in RoE, sending shares of AXP lower on the week. Regional banking names US Bank, Key Bank, and Bank of New York all reported excellent results, as growing activity levels continue supplanting loss reserve reductions as earnings drivers.

- DJIA components Coca-Cola, Johnson & Johnson, McDonalds and Verizon broadly met expectations in Q1 reports. JNJ saw 5% decline in domestic sales and on the call executives warned the company has seen a certain amount of caution among its customers. Both McDonalds and Coca Cola have greatly benefitted from growth in China, and both firms warned that they are seeing a moderate slowdown in that market. Countering these assessments, Yum Brands said that its China sales grew 28% in its Q1 and said it is still seeing robust strength in its Chinese operation, even as margins are expected to contract in Q2. Investors like what they heard out of Verizon, especially the big jump in wireless ARPU and lower churn levels, even though wireless net adds were weak.

- For much of the last three months, the Nasdaq had been handily outperforming the S&P500 and the DJIA, but that trend reversed this week as investors divined troubling trends in tech earnings reports. Qualcomm topped consensus estimates in its Q2 and even hiked its 2012 outlook, but very weak guidance for its Q3 spooked investors. Headline results from IBM, Intel and Qualcomm met or beat consensus views, although one-time items padded profits for Intel and IBM. Market participants fixed on comments about the broader markets: IBM warned that it faces challenges in the hardware area (analysts noted that declining hardware revenue at IBM kept the company's revenue flat on a y/y basis). Qualcomm blamed supply constraints for 28nm chips. EMC's CFO warned that the company is still seeing some supply constraints in HDD supply chain, contradicting the more rosy assessment out of Seagate the other day. There were few surprises in Microsoft's Q3 earnings report and company said PC sales exceeded projections, with demand up as emerging markets supported sales.

- It's worth noting that share of Apple were volatile again this week, following last week's big slide. There were various theories floating around that sought to rationalize the declines, none very compelling. As of Friday, shares of Apple had fallen more than 10% from its recent all-time high of $644. Last week there were concerns that wireless carriers were threatening to trim iPhone subsidies, which would naturally crimp sales. However, Verizon's Q1 results were buttressed by smartphone revenue, suggesting it is very unlikely the carriers would do anything that might stem sales. Almost half of Verizon's smartphone sales in the quarter were iPhones, at 3.2M units of a total 6.3M smartphone units sold. Late this week the rationalization for the moves became Qualcomm, which on its earnings conference call warned it is experiencing supply issues with its 4G mobile radio chips. This prompted fears that the launch of the iPhone 5 would be pushed back to October.

- Industrial names General Electric and Honeywell both offered solid Q1 results. GE merely repeated its standing FY12 guidance, and offered vaguely positive commentary on the conference call, although some analysts were unhappy to hear that margins on gas turbine equipment margins would decline in FY12. Honeywell slightly upped its FY12 outlook, and said that strong orders growth in all segments and very good margin expansion bodes well for the rest of the year. Oil services name Schlumberger said that strong international demand from high crude prices would help offset expected weakness in North America drilling. Mining giant Freeport comfortably topped expectations, as higher realized gold prices helped offset lower copper prices. Production of both gold and copper was down on a y/y basis. Coal miner Peabody is being impacted by the big declines in coal demand, as both consumption and production in the US fall due to coal-to-gas switching, mild winter weather and low economic growth.

- Peripheral stress in Europe was highly evident this week, manifesting itself chiefly in the yields on Spanish and Italian 10-year debt and the all-time low yields on the 10-year German bund. But the story was not one-sided, as decent economic data and positive results from sovereign bond sales, including two Spanish auctions, made for see-sawing sentiment. It was also a big week for international meetings, including the G7 and G20 finance ministers' meetings and the spring meetings of the World Bank and the IMF. In connection with the latter, the IMF released its World Economic Outlook and raised both 2012 and 2013 global GDP growth forecasts. The outlook described the global environment as one of 'uneasy calm.' At the G20 meeting, participants were asked to increase the resources available to the IMF by more than the $400B, bringing IMF funds to over $1T.

- EUR/USD began the week testing below the 1.30 handle at two-month lows before stabilizing. The pair met stiff resistance in the 1.3050-70 area but managed to bust through this level, as price action remained choppy throughout the week as peripheral concerns simmered. Italy confirmed earlier speculation after the government approved a three-year reform plan that revised its 2013 deficit-to-GDP ratio to 0.5%, and cut its overall GDP forecast to -1.2% from -0.4% prior. European sovereign downgrade rumors were resurrected on Thursday, driving some risk-off trading, until Fitch stepped in and reiterated its AAA sovereign rating for France. The Chinese helped hold up the euro with positive comments: China Premier Wen reiterated his confidence in Europe and the Chinese sovereign wealth fund CIC said it was looking at opportunities in Europe.

- USD/JPY was testing the key 80.30 level early in the week. This level is the high that followed the BoJ's unilateral intervention on August 3, 2011 and the level represents key support. BoJ Governor Shirakawa responded to the yen moves with more verbal intervention, reiterating that the central bank was deploying an aggressive policy easing policy. All eyes will be on the BoJ meeting next week.

- Sterling was broadly firmer after better UK employment data and the more hawkish tone in the BoE minutes. Perennial dove Posen made the switch back into the majority camp after voting not to increase quantitative easing, as seen in the minutes. GBP/USD hit 5-month highs above 1.61 after better March retail sales data while EUR/GBP hit fresh 20-month lows below 0.8170 level.

- SNB Chairman Jordan was formally appointed chairman of the central bank and reiterated his pledge to maintain the 1.2000 floor in EUR/CHF. He had no comment over speculation that the 1.2000 floor would be raised at some point in the future, but Euro crisis uncertainty continues to drive safe havens flows toward the Swiss Franc.

- The Bank of Canada left its interest rates steady for the 14th straight policy meeting but noted economic headwinds were abating. It added that some modest withdrawal of monetary stimulus might be appropriate but the timing and degree of rate hikes would be weighed carefully against both domestic and global economic developments.

TradeTheNews

Apr 20 2012

Catch of the Day. Strong feeling that panic was about to hit led to a hunt for a TZA entry. Pullback presented an opportunity - two downward tails after losing whole number support, recross for a trigger, very tight stop, nice run to above 19.25. 

Session Time: Fri Apr 20 00:00:00 2012

[09:03] {_bobwi} good morning

[09:06] {dino} gm, another gap open day

[09:06] {Threei}  bob, dino :)

[09:06] {nemo} kinda more like when isn't it a gap open day

[09:07] {_soccer34k} Morning guys

[09:08] {dptl} gm all

[09:08] {Threei}  soccer, dp :)

[09:12] {Les} morning

[09:12] {cipher} gm

[09:12] {Threei}  les :)

[09:12] {Threei}  cipher :)

[09:18] {dptl} rvbd news?

[09:18] {Threei}  bad guidance yesterday

[09:19] {Threei}  a lot of downgrades today

[09:19] {Threei}  hot potato

[09:19] {Beau} good morning you all

[09:19] {dptl} thanx

[09:21] {Threei}  beau :)

[09:24] {ese} gm......played a show llast night until 1am......eye lids are sown shut

[09:24] {Threei}  ese :)

[09:24] {ese} mornin vad

[09:25] {Les} just listen to the sultry sound of the computer beep when vad types ese :)

[09:25] {ese} lol

[09:30] {thomcbell} gm

[09:30] {Threei}  tbell :)

[09:31] {Threei} Short Setup: FCX  .50 break hl

[09:31] {Threei}  stop above .60

[09:32] {Threei}  1:1

[09:33] {Les} sweet. RVBD and FCX

[09:33] {Les} gotta be somewhere back later. ty for fcx

[09:34] {Threei}  rofl

[09:34] {Threei}  done in 3 minutes

[09:34] {Les} learning from ese

[09:34] {Threei} Long Setup:  LVS  .60 break

[09:34] {Threei}  hl

[09:34] {Threei}  if stays above .50

[09:36] {dptl} in

[09:36] {Threei}  aggressive?

[09:37] {Threei}  I didn't see it troggering

[09:37] {nemo} maybe he faded

[09:37] {dptl} xmm....offers was gone i entered.....stopped

[09:40] {dino} tpx wow, gap 62 area

[09:40] {nemo} what a mess

[09:40] {Threei} Long Setup:  X  .20 break

[09:41] {Threei}  if stays above .10

[09:42] {Threei}  invalidated but on radar

[09:44] {Threei} Long Setup:  FCX  .15 break

[09:48] {Threei}  invalidated

[09:48] {ese} that is a huge gap dn dino

[09:48] {nemo} what a frickin' mess

[09:48] {thomcbell} lvs impressive pop there 

[09:50] {Threei} Long Setup:  X  29 break

[09:50] {Threei}  argh

[09:50] {Threei}  late alert

[09:50] {Threei}  see if gives second cnace

[09:51] {Threei}  perfect pullback for double bottom

[09:53] {thomcbell} oh lvs 

[09:53] {thomcbell} right instinct to be long vad 

[09:53] {thomcbell} earnings wed 

[09:56] {Threei} Long Setup:  X  .90 break

[09:57] {Threei}  stop under .80

[09:57] {dptl} in

[09:57] {dino} smr l tpx .25, wide

[09:58] {Threei}  1:1

[09:58] {dptl} half out

[10:00] {dptl} out

[10:00] {Threei}  scalpers win

[10:00] {Beau} yep and thx vad

[10:01] {Threei}  possible db here

[10:01] {Threei}  same setup

[10:01] {Threei}  .90 break if holding .80

[10:02] {Threei}  welcome beau :)

[10:02] {Threei} Long Setup:  FCX  38 break

[10:02] {Threei}  FCX double-sided

[10:03] {dino} tpx stop

[10:03] {dptl} in x

[10:04] {Threei}  come on X, should give 1:2 this time

[10:05] {ese} testing lows dino

[10:06] {Threei}  X no go

[10:06] {dino} yes

[10:06] {Threei}  FCX 1:1

[10:06] {dptl} out x

[10:07] {Threei}  they kind of hedged each other

[10:07] {nemo} frickin op ex Friday

[10:10] {ese} L tpx crappy fill .90

[10:10] {ese} sm

[10:10] {thomcbell} fcx looking real bad long term charts

[10:11] {Threei} Short Setup: LVS  .80 break

[10:12] {ese} maybe should have taken my 50 bucks 

[10:13] {nemo} crissakes have to bunt to get on base today

[10:15] {Threei}  1:1

[10:15] {ese} this thing is sliperyer than snake crud dino

[10:15] {Threei}  1:2, out

[10:15] {nemo} shit through a goose

[10:16] {ese} that too

[10:16] {nemo} pivot is .64 on lvs

[10:17] {nemo} C looks short, but that's so slow

[10:17] {dino} yeah, its a major mind screw

[10:18] {ese} ouuuuuuuu 

[10:19] {ese} out .13 grrrrrrrrrrrr 

[10:20] {ese} oh ya sure..................

[10:20] {dino} damn missed that bounce

[10:20] {ese} faaaaaaaaaaaaaaa...............you fill in the rest

[10:20] {dino} ,lol

[10:21] {Threei} Long Setup:  KMB  .80 break hl

[10:21] {nemo} sndk

[10:21] {nemo} db

[10:21] {Threei}  if stays above .70

[10:22] {dptl} ax..missed

[10:22] {ese} when it bounces it'll be huge

[10:23] {Threei}  that's good... why wouldn't you want to miss ax

[10:23] {dptl} lol

[10:26] {Threei}  1:1 again in case you caught it on pullback

[10:28] {ese} L kbh .78

[10:38] {dptl} ccl .20 short?

[10:38] {Threei}  yup

[10:38] {Threei}  looks nice

[10:39] {dino} well we missed that tpx db

[10:40] {dino} thing wants 70 imo

[10:41] {ese} i'll say

[10:41] {dptl} in .30 stop

[10:42] {ese} agreed...too bad igotta go....can't take advantage of it...still long KBH stop in at low of the day

[10:42] {ese} cya

[10:42] {dptl} ccl

[10:42] {Threei}  take care ese

[10:48] {dptl} half out

[10:48] {Threei}  good one

[10:48] {dptl} stop to .21

[10:48] {Threei}  both find and execution

[10:49] {dptl} ty

[10:51] {dptl} all out

[10:52] {Threei}  beautiful

[10:52] {dino} gj

[10:53] {dptl} i am blushing.....ty 

[10:55] {Threei}  frikin shrinkin violet

[10:57] {dptl} ax...avgo just could't find entry, was prob .70 break

[11:00] {Threei} Long Setup:  FCX  .80 break

[11:01] {dptl} in

[11:06] {Threei}  holding by fingertips

[11:08] {Threei}  out

[11:08] {dptl} stopped

[11:09] {nemo} GILD

[11:10] {nemo} .65 there be dragons level

[11:22] {dptl} rvbd .60 break?

[11:22] {Threei}  no read

[11:22] {Threei}  50/50

[11:22] {dptl} k

[11:24] {nemo} is the market open

[11:24] {nemo} can I start, er stop ,er start drinking

[11:24] {nemo} gild at important price

[11:29] {nemo} http://www.news.com.au/business/worker-injured-during-sex-gets-compo/story-e6frfm1i-1226333292525

[11:29] {dino} ezpw sm l .25

[11:31] {nemo} gild tested the level and is bouncing but might look to short this bounce

[11:49] {dino} tpx sm l .25

[11:56] {Threei}  SPY - is it glued, nailed or welded to this place?

[11:57] {nemo} think gild goes here

[11:58] {dino} brb

[12:11] {Threei}  GILD is coming in for double bottom

[12:11] {nemo} did tahta at 2

[12:11] {nemo} did that at 12

[12:11] {Threei} Long Setup:  GILD  .70 break hl

[12:12] {nemo} aapl coming into a db

[12:12] {Threei}  if holding .60

[12:12] {nemo} you see what happens if it doesn't hold .60?

[12:13] {Threei}  no... I'd have to open my eyes for that

[12:13] {nemo} oh, nevermind

[12:15] {dptl} in

[12:24] {Threei} Long Setup:  TNA  .40 break hl

[12:24] {Threei}  if stays above .30

[12:24] {nemo} you must be bored

[12:25] {Threei}  aggressive for .50

[12:25] {Threei}  well, I am... but this is a valid play

[12:25] {dptl} in tna

[12:25] {Threei}  .50 break is in cards, IMO... and TNA is better play with aggressive entries on this kind of breaks

[12:26] {Threei}  let's trail GILD to .65

[12:31] {Threei}  maybe just take scalp GILD... tiresome

[12:31] {Threei}  come on TNA... 2 cents to 1:1?

[12:33] {dino} tpx to .25

[12:33] {dino} out tpx 66.25, +1.00

[12:33] {Threei}  wtg

[12:34] {dino} ty

[12:34] {nemo} yum looks long

[12:39] {dptl} stopped tna

[12:42] {dino} tpx wants to break out

[12:43] {dino} sm l .60 break

[12:46] {Les} TNA vwap support here

[12:46] {Les} IWM too

[12:48] {dptl} you still in gild Vad?

[12:48] {Threei}  exited .74

[12:48] {Threei}  12:31] {Threei} maybe just take scalp GILD... tiresome

[12:49] {Threei}  be back in 20

[12:57] {dptl} out gild

[13:03] {nemo} possible tna long here

[13:08] {Threei}  I start thinking selloff is colming

[13:08] {Threei}  Hollande lead in the polls might mean sharp changes in Europe

[13:08] {Threei}  who wannts to stay long over weekend for that

[13:15] {dino} so the dutch are invading france

[13:16] {Threei}  I guess

[13:16] {dino} tpx to .70, stuck

[13:18] {dino} out +.10

[13:24] {Threei}  selling hits

[13:25] {dptl} rcl .40 short?

[13:26] {Threei}  yup

[13:27] {dptl} stop above .50

[13:27] {nemo} might want to see if you can short it up there

[13:29] {dptl} in

[13:30] {Threei}  White House Carney: US contribution to the IMF will not be increased

[13:31] {Threei}  (GR) IMF Official: Despite the impressive fiscal adjustment, there has been no change in Greece's debt trajectory

[13:31] {Threei}  - It is remarkable that Greece has not experienced deflation so far.

[13:31] {Threei}  - Greece's reforms were seen as very challenging from the outset, the govt only has two levers: fiscal policy and structural reform.

[13:31] {Threei}  - Greece will see substantial benefits over time from lower interest rates.

[13:32] {dptl} nope...out

[13:32] {dptl} bad day i am having

[13:32] {Threei}  (GR) According to the recent polls, Greece top two political parties PASOK and New Democracy only have about 13% and 20% respectively ahead of May 6th elections - financial press

[13:35] {dino} ezpw l .01

[13:43] {dino} aaww drop

[13:46] {dptl} rinzed me rcl

[13:47] {dino} hate that when it happens

[13:51] {dino} guid drop

[13:51] {nemo} this might be bounce area in next .15 for iwm

[13:51] {nemo} I liked next .06 cents

[13:51] {dino} guid sm l .25

[13:51] {nemo} was looking at tna

[13:51] {nemo} guido?

[13:51] {dino} no, mc

[13:51] {nemo} hammer?

[13:52] {dino} lol

[13:52] {nemo} this is qpp in iwm

[13:53] {Threei}  crap

[13:53] {Threei}  haven't found TZA entry, even though had right sense of direction

[13:54] {nemo} CRAP!

[13:56] {Threei}  was watching it for setup from .90

[13:56] {Threei}  and never got any

[13:59] {Threei}  if pulls back to or just under 19, will be an entry

[14:03] {nemo} db spy

[14:09] {dino} aaww sm l break .00

[14:27] {dino} tpx sm l .89

[14:33] {dino} that sucked, stopped

[14:34] {Threei} Long Setup:  TZA  19 break

[14:34] {dptl} in

[14:34] {Threei}  stop under .95

[14:37] {dino} rvbd l .04

[14:44] {dino} out rvbd .19, +.15

[14:47] {Threei}  sold any, dp?

[14:47] {dptl} no

[14:48] {dptl} you?

[14:49] {Threei}  half

[14:49] {Threei}  but I took a lot

[14:50] {dino} out guid +.02

Session Close: Fri Apr 20 14:52:37 2012

Session Start: Fri Apr 20 14:52:37 2012

Session Ident: #discussions

02[14:52] * Disconnected

02[14:56] * Attempting to rejoin channel #discussions

03[14:56] * Rejoined channel #discussions

[14:56] {Les} everyone quitting on us...

[14:56] {Threei}  lost connection

[14:57] {Threei}  dp

[14:57] {Threei}  sell frikin half

[14:57] {dptl} half out

[14:57] {Threei}  whew

[14:57] {Threei}  lol

[14:59] {Threei}  if we get real pani, .25 - .30 is not out of question

[14:59] {Threei}  and SPY looks like we just might

[15:00] {dptl} where is stop?

[15:00] {Threei}  .98

[15:00] {dptl} k

[15:02] {nemo} spy looking bouncy here

[15:03] {Threei}  really?

[15:03] {Threei}  not to me...

[15:03] {Threei}  looks barely holding on the bronk

[15:03] {nemo} setting up that way 138 area major support

[15:03] {Threei}  brink

[15:03] {dptl} ye...and not to me..lol

[15:03] {Threei}  about to fall down

[15:03] {Les} bonkers?

[15:03] {nemo} not sure they give it up yet

[15:05] {nemo} fair amount of volume came in

[15:05] {nemo} bonkers?

[15:08] {Threei}  let's get that panic

[15:08] {Threei}  I am so looking forward to it

[15:08] {dptl} some more out

[15:08] {Threei}  couldn't believe I missed that TZA run even though was waiting for it... feeling vindicated now

[15:09] {Threei}  1/4 more out .22

[15:09] {Threei}  if that's not a thing of beauty

[15:09] {Threei}  look where our entry is

[15:10] {dptl} stop under .10?

[15:10] {Threei}  yup

[15:10] {dptl} offering .39 last

[15:10] {Threei}  wow

[15:10] {Threei}  you are one greedy trader

[15:11] {dptl} he he...just 100 left...see if i can push it

[15:12] {dptl} ir bounce may be

[15:18] {dptl} ax..was hoping for db on ir....gone now

[15:18] {Threei}  visual: http://goo.gl/2bp8g

[15:27] {Threei}  well TZA... time for an all-out break

[15:32] {Threei}  France's Sarkozy seen losing 2012 election: poll

[15:33] {Threei}  Mr Hollande said he would not endorse the EU fiscal compact if it failed to promote growth.

[15:34] {Les} guy wants to balance deficit in his first 5 years, while promoting growth

[15:34] {Les} frikin dreamer

[15:34] {Threei}  haha

[15:40] {dino} out aaww .30, +.30

[15:47] {dptl} out tza ty

[15:47] {Threei}  :)

[15:49] {dino} lamr drop

[15:49] {dino} amln drop

[15:51] {Threei}  OK guys, no more trades... let's have a great relaxing weekend, shall we

[15:51] {Les} cheers

[15:51] {Threei}  take care, see you all on Monday

[15:51] {dptl} gn all

[15:53] {dino} thx all

Apr 19 2012

Nice profitable day although wild intraday swings probably presented more opportunities than we utilized. Had to control risk tight though... but got the bottom right, plus a few other trades before and after the big drop and big recovery.

Session Time: Thu Apr 19 00:00:00 2012

[08:32] {Threei}  *(US) INITIAL JOBLESS CLAIMS: 386K V 370KE; CONTINUING CLAIMS: 3.297M V 3.30ME- Prior Initial Claims revised higher from 380K to 388K - Prior Continuing Claims higher from 3.251M to 3.271M

[08:43] {_bobwi} gm

[08:43] {Threei}  bobwi :)

[08:52] {sciborg} gm guys

[08:52] {Threei}  sciborg :)

[08:52] {sciborg} I here alld ay today

[08:52] {sciborg} I gonan catch all the Good trades ;)

[08:52] {Threei}  no pressure eh?

[08:52] {sciborg} lol

[08:52] {sciborg} none

[08:53] {sciborg} I always expect to have losses

[08:53] {sciborg} the trick is to have smaller losses and bigger wins :)

[08:54] {ese} morning

[08:55] {Threei}  ese :)

[08:55] {ese} should I tell you about my dabbleing in HGSI

[08:56] {sciborg} hopefully you purchased yetsreday ?

[08:56] {sciborg} and held it overnight

[08:57] {ese} a couple of weeks ago for the hell of it....400 shs at 8.02

[08:57] {Threei}  wow

[08:57] {Threei}  nice

[08:57] {sciborg} really, nice

[08:57] {sciborg} congrats

[08:57] {Threei}  buyout offer for 13

[08:57] {ese} am out 14.32.......nice little surprise to get up to

[08:57] {Threei}  dump it before they rejected it

[08:57] {Threei}  lol

[08:58] {Threei}  IMF Chief Lagarde: Reiterates that dark clouds on the horizon for the global economy; rising oil prices, high unemployment and bank deleveraging are risks to the outlook

[08:58] {ese} yup

[08:58] {Les} yeh, so fork up more money for us to spend...

[08:59] {Threei}  that's their logic

[09:03] {dptl} good morning

[09:03] {Threei}  dp :)

[09:03] {ese} dddddddddddddpppppppppppppp!!!!!!!!!!!

[09:04] {dptl} ese...:)

[09:21] {Threei}  idiot on Vancouiver Island, driving his bike on the highway at 299 km/h, filming it - and posting on Youtube

[09:21] {Threei}  police is all over it

[09:22] {Les} he'll get his two minutes of fame

[09:22] {Les} and if he's not lucky, a 2 year jail sentence :)

[09:24] {Threei}  http://www.theprovince.com/news/video+Dangerous+Victoria+motorcycle+ride+hits/6472573/story.html

[09:24] {Threei}  186 mph for non-canadians

[09:24] {ese} I think that speed has to be exerated........was just on a train from Bologna to Milan a month ago going 300k....man thats 180 miles and hour

[09:28] {Beau} good morning

[09:28] {ese} hmmmmm...to bad he's not a winner of a darwin award for ridding the world of undesirable genes

[09:28] {Threei}  beau :)

[09:28] {ese} beau

[09:28] {Beau} ese

[09:28] {Threei}  yeah... at this speed he hits your vehicle, he slices it in half

[09:29] {Threei}  dino forgot where the door is

[09:30] {Threei} Short Setup: FCX  .70 break hl

[09:30] {Threei}  yeah right

[09:30] {Threei}  good luck getting that fill

[09:30] {Threei}  or exiting

[09:30] {Threei}  again

[09:30] {Threei}  same setup

[09:31] {Threei}  if stays under .80

[09:32] {Threei}  1:1

[09:32] {Les} wow in and out under 1 second

[09:32] {Threei}  1:2, out

[09:32] {Les} well maybe 3 sec

[09:32] {Les} ty

[09:33] {Threei}  yw

[09:33] {cipher} thx good one

[09:33] {Threei}  :)

[09:33] {Threei}  1:3 without us

[09:34] {Threei} Short Setup: SLW  .60 break

[09:34] {Threei}  if stays under .70

[09:34] {Threei}  no go

[09:35] {dptl} ?

[09:35] {Threei}  opps..,. wrong symbol

[09:35] {Threei}  never mind

[09:35] {Threei}  juggling a few too many

[09:36] {Threei}  SLW invalidated

[09:36] {Threei}  but may form different setup, watching

[09:36] {Threei}  OK, valid again

[09:37] {Threei}  same condition

[09:39] {Threei}  invalidated

[09:40] {ese} L atml.13

[09:41] {Threei} Short Setup: LVS  .90 break hl

[09:41] {Threei}  ugh

[09:41] {Threei}  late alert

[09:41] {ese} out .24 +.11

[09:41] {Threei}  grrr... 1:1

[09:42] {_soccer34k} just missed LVS....

[09:42] {Threei}  yeah, I was late by a sec or two

[09:42] {_soccer34k} no biggie

[09:42] {Les} 2nd entry?

[09:42] {Threei} Short Setup: SLW  .90 break

[09:42] {Threei}  not sure

[09:42] {Threei}  let's let it consolidate a bit

[09:43] {Threei}  too volatile

[09:43] {Threei}  SLW, if stays under .95

[09:44] {Threei}  no go

[09:44] {nemo} hammers on the first 15 minute candle, new week highs looking good

[09:46] {thomcbell} qcom watching for a long setup 

[09:48] {thomcbell} too wide right now 

[09:48] {thomcbell} could be an investment long

[09:49] {thomcbell} buying pullback to 64 

[09:49] {Les} fcx

[09:50] {thomcbell} ok im long qcom 64.01 - if holding 63.89

[09:50] {thomcbell} out

[09:50] {thomcbell} that was quick

[09:50] {Threei}  another confirmation of why I doln't like QCOM

[09:50] {ese} dino if your hangin.....wha da ya think of EGOV

[09:51] {thomcbell} yes that was wicked

[09:51] {ese} news looks ok

[09:52] {dino} looking

[09:53] {dino} egov lost virginia contract

[09:53] {Threei}  watching TZA for double bottom

[09:54] {ese} hmmmmm....trade the news doesn't show that.........what kinda news feed is this

[09:54] {dino} yahoo

[09:54] {ese} what are you lookin at for news feed

[09:55] {ese} yahoo?

[09:55] {Threei} Long Setup:  TZA  .90 break

[09:55] {dino} finance.yahoo.com

[09:55] {nemo} spy and iwm bull flagging

[09:56] {dino} y

[09:58] {dino} ezch spike

[09:59] {Threei}  change to .85 break

[09:59] {Threei}  invalidated

[09:59] {ese} ya jsomething up with semi's today....cy is up as well

[09:59] {nemo} numbers

[09:59] {Les} volatility

[09:59] {nemo} numbers

[09:59] {Threei}  *(US) APR PHILADELPHIA FED: 8.5 V 12.0E

[10:00] {Threei}  *(US) MAR EXISTING HOME SALES: 4.48M V 4.62ME

[10:00] {ese} opps!

[10:00] {Threei}  *(EU) EURO ZONE APR ADVANCED CONSUMER CONFIDENCE: -19.8 V -19.0E

[10:01] {Threei}  TZA got away in this mess

[10:01] {nemo} slob

[10:02] {dino} egov took off w/o me

[10:02] {Les} I saw teleportation

[10:02] {cipher} +.26 egov thx ese

[10:02] {Les} db

[10:02] {Les} ?

[10:02] {Threei}  ?

[10:02] {Les} indexes

[10:04] {ese} your welcome

[10:04] {Les} nope

[10:05] {ese} market tanking.....who the H reported those numbers!!!!!! ehhhhh!!!!!!! whos responsible for this!!!!!!!!! NEMO?

[10:05] {Les} you practising to be a politician ese?

[10:05] {Threei}  Les, wait out panic

[10:05] {Threei}  don't be a hero

[10:05] {Les} ok

[10:05] {ese} lol

[10:06] {nemo} Les, you take point

[10:06] {Les} no hero here. took a quick toilet break

[10:06] {Threei}  remember the most typical tombstone in the cemetery of traders' accounts

[10:06] {ese} ?

[10:06] {Threei}  "he was a brave trader"

[10:06] {Les} [16:04] {Les} nope

[10:06] {ese} lol

[10:06] {Les} was just confirmation of failed db upon return from potty break

[10:07] {Les} slowly gaining patience

[10:08] {Threei}  now db on TNA is a possibility

[10:08] {Threei}  sharp drop to 55 and I am interested

[10:08] {Threei}  keep half lot ready

[10:10] {nemo} this strong support area for spy

[10:10] {Threei}  one more leg down for SPY, IMO

[10:10] {Threei}  shakeout of those who counts on 138 to hold

[10:10] {nemo} the whole, price support WPP and 50 sma

[10:10] {Threei}  then reversal

[10:11] {nemo} see what I mean, how long it lasts, I don't know

[10:11] {Threei}  too fast

[10:11] {Threei}  lost 138 by 3 cents

[10:12] {Threei}  took stops out and jumpled fastr than you could blink

[10:12] {nemo} yeah, like net got stretched when body fell into it

[10:12] {Threei}  lol

[10:12] {nemo} bounced it

[10:12] {Threei}  ok TNA, give us one more chance

[10:12] {Threei}  .10 break was it but heck, the speed with which it happens

[10:12] {nemo} and....wpp bounced a pubic hair above the WPP

[10:13] {Les} ?

[10:13] {Les} I think you should get off the booze

[10:14] {nemo} well, it was thicker than the hair on your head

[10:14] {Les} IWM you mean?

[10:15] {Les} fcx db?

[10:15] {Les} or inverted c&h?

[10:15] {Threei}  .40 break

[10:15] {Threei}  worth a try

[10:16] {Threei}  if holdong .35

[10:16] {dino} whr -10 in about 5 days

[10:16] {ese} that might be the best analogy we've had on this...."a pubic hair above"......indicating razor thin spread......hmmmmmmm I really like that

[10:16] {ese} this board

[10:16] {nemo} no hair above is razor thin, pubic hair is a bit more above

[10:17] {ese} lol

[10:17] {Threei} Long Setup:  TNA  .20 break hl

[10:17] {Threei}  1:1

[10:18] {sciborg} argggg missed it

[10:18] {Threei}  1:2, out

[10:18] {ese} you all have a great day......gotta go .....cya tomorrow.  Have a show tonight vad at the Convention Center

[10:18] {Threei}  whatcha use for a broker, sciborg?

[10:18] {Threei}  it was obtainable

[10:18] {sciborg} i was in bathroom

[10:18] {sciborg} lol

[10:18] {sciborg} speedtrader

[10:18] {ese} lol

[10:18] {Les} grabbed it thanks

[10:18] {Threei}  hmmm

[10:18] {cipher} +.29 tna thx

[10:19] {Threei}  doesn't sound like the name is right :)

[10:19] {Threei}  welcome guys

[10:19] {ese} you need a laptop

[10:19] {Threei}  taje care ese

[10:19] {ese} cya

[10:19] {cipher} fcx still valid?

[10:20] {Threei}  not sure

[10:20] {Threei}  lags a lot

[10:20] {cipher} still in

[10:20] {Threei}  sciborg, pm me please

[10:20] {Les} grabbed a little fcx at .40 break

[10:20] {Les} I am outta here. pyjama time

[10:20] {Threei}  double click on my name

[10:20] {Les} c u's for close

[10:20] {Threei}  gj Les

[10:21] {cipher} out fcx .60 +.20

[10:21] {Threei}  notice how we finally caught the bottom

[10:21] {Threei}  skipped a lot of tempting ones

[10:21] {Threei}  and missed couple good ones that werw still too fast and risky

[10:21] {Threei}  and got the one that was much more easier to read and execute and manage

[10:24] {Threei}  wow

[10:24] {Threei}  talk about early exits

[10:24] {nemo} what a volatile morning that was

[10:24] {Threei}  lol

[10:24] {Threei}  yeah, big set of numbers, almost all bad

[10:25] {nemo} sold it then bought it

[10:25] {nemo} perfect bounces off of technical levels

[10:26] {dino} swk sm l .75

[10:26] {nemo} http://www.freestockcharts.com?emailChartID=d9c7ba9f-60f3-45f5-b6fe-9258587d746f

[10:27] {dino} out swk .05, +.30

[10:27] {cipher} +.24 swk thx dino

[10:27] {dino} :D

[10:28] {Threei}  gj guys

[10:29] {cipher} swk s .47

[10:30] {Threei}  APOL Reportedly has been contacted by the SEC enforement division - financial press

[10:30] {cipher} cov .15 +.32

[10:33] {Threei} Long Setup:  APOL  .90 break hl

[10:33] {nemo} bad numbers bought, bull market back on for sure

[10:33] {Threei}  if stays above .80

[10:33] {Threei}  invalidated

[10:34] {dino} gj cipher

[10:34] {cipher} ty

[10:34] {cipher} apol rinse

[10:38] {Threei}  oh boy

[10:38] {Threei}  look at TNA

[10:39] {nemo} this is incredible

[10:41] {Threei}  maybe we are topping... such volatility often markes the top after a very extended move, and this rally is 3 years old

[10:41] {dino} 3 years old, thats a baby

[10:42] {nemo} yep

[10:42] {Threei}  lol

[10:42] {nemo} momentum looking weaker on iwm not sure about spy though

[10:42] {Threei}  sciborg, you here?

[10:42] {nemo} they are both at imortant levels here, would make snese to digest these and then head to new week highs

[10:43] {Threei}  sheesh APOL

[10:43] {sciborg} yep

[10:43] {Threei}  look private messaage please

[10:47] {nemo} could take scalp here on tza, but I don't think the long run is over

[10:55] {Threei}  here comes TZA pullback

[10:55] {Threei}  starts looking like a play

[10:57] {Threei} Long Setup:  TZA  .70 break

[10:57] {Threei}  if stays above .60

[10:57] {Threei}  sheesh

[10:58] {Threei}  that was fast

[10:58] {Threei}  missed while typed

[10:58] {Threei}  anyone got it?

[10:58] {_soccer34k} brabbed a few at .72

[10:58] {sciborg} i was still reading when it happened..lol

[10:59] {Threei}  offer half into .80 break, soccer

[10:59] {Threei}  stop to .69

[11:00] {_soccer34k} k hanks

[11:00] {Threei}  unless you are a scalper to the bone, in which case you just take easy profits

[11:00] {_soccer34k} sold a few at .80

[11:01] {nemo} 34k is that your lot size?

[11:01] {_soccer34k} haha no...

[11:01] {_soccer34k} only had 300

[11:01] {dino} x 2

[11:01] {nemo} ahhh ese lots

[11:05] {dptl} gild?

[11:07] {nemo} http://cf4.thingd.com/default/296344133_f90e0fdd7c76.jpg

[11:13] {cipher} gild atm thx dptl

[11:13] {dptl} :)

[11:13] {cipher} scapled it many times

[11:14] {cipher} another good day thx all cya tomorrow

[11:14] {Threei}  wtg cipher

[11:14] {Threei}  din't drink it all away

[11:15] {Threei}  send me some

[11:15] {cipher} lol how did you know :-)

[11:15] {Threei}  lucky guess

[11:16] {dino} wtg cipher

[11:21] {dino} jcp s .35

[11:21] {dino} utek spike

[11:29] {dino} cov jcp .25, +.10

[11:32] {dino} gpc drop

[11:33] {nemo} bounce time coming iwm spy

[11:33] {nemo} .41 tna

[11:35] {dino} gpc sm l .30

[11:36] {nemo} nope

[11:37] {nemo} looks like rinse

[11:37] {nemo} yep

[11:38] {nemo} sniff sniff

[11:46] {Threei} Short Setup: ABC  .40 break

[11:46] {Threei}  if stays under .45

[11:47] {Threei}  aggressive entry for .35 trigger,

[11:47] {Threei}  scalping size of a stop but not a scalping target

[11:47] {Threei}  daily has nothing but air under .35

[11:50] {nemo} wow, that rinse hurt

[12:03] {Threei}  ok ABC

[12:03] {Threei}  let's dance

[12:03] {Threei}  should be good for 30 cents

[12:04] {Beau} not a waltz please

[12:04] {Threei}  nope, that's not me

[12:04] {Threei}  hold on, I'll find my kind of dance

[12:05] {Threei}  http://www.youtube.com/watch?v=YK0Q2aPhB_I

[12:05] {nemo} what a frickin' day

[12:05] {nemo} tang

[12:05] {nemo} tango of course

[12:05] {nemo} no

[12:05] {dptl} lol

[12:06] {Threei}  grace and elegance, as you can see

[12:06] {Beau} at least for her

[12:07] {Threei}  what was that movie...

[12:07] {nemo} what movie

[12:08] {Threei}  "Never dance. Real men do not dance. Does Arnold dance? --Hell, Arnold barely walks!"

[12:08] {nemo} don't know

[12:08] {Threei} Short Setup: FCX  .10 break

[12:08] {Threei}  if stays under .20

[12:10] {Threei}  In and Out

[12:11] {Threei}  lose that .35 finally

[12:18] {dptl} you trailing stop at this point Vad? abc

[12:18] {Threei}  I am a bit torn about it

[12:19] {Threei}  formally, it's at 1:1

[12:19] {Threei}  but it was an aggressive entry

[12:19] {Threei}  and I don't intend to partial yet

[12:19] {dptl} so same .45

[12:19] {Threei}  I'd prefer to see it at or under .30 before I start trailing

[12:20] {Threei}  yeah, what's the point really, 5 cents...

[12:20] {dptl} ok ...i am bidding half .30

[12:20] {Threei}  as much as I am risk-intolerant, this is too much even for me :)

[12:21] {Threei}  I like this chart so much that I will partial 1/3 only at first point

[12:23] {Threei}  Unconscious pilot at controls of private plane circling over Gulf of Mexico; authorities expect it will soon crash into water

[12:25] {Threei}  ok

[12:25] {dptl} out half

[12:25] {Threei}  first piece is out at 1:2

[12:25] {Threei}  stop to .41

[12:28] {Threei}  55% Think Hate Is Growing In America..

[12:28] {Threei}  remaining 45% hate first 55%

[12:30] {nemo} nem

[12:31] {nemo} so volatile today, the automatic increments on my tna chart haven't dropped below .25 

[12:31] {Threei}  well, that zig-zag after the morning numbers was extraordinary

[12:31] {nemo} nem looks short below .70

[12:32] {nemo} yeah, whacked short and long stops on that one

[12:32] {nemo} might be getting longs setting up on spy/iwm here

[12:45] {dino} gpc to .71

[12:47] {dino} out gpc .75, +.45

[12:47] {dino} brb

[12:47] {Threei}  wtg

[12:51] {nemo} mmmhhhh, tza might be in order

[12:53] {Threei}  while it's quiet, lemme brag a little

[12:53] {Threei}  http://goo.gl/TYNSI

[12:54] {nemo} looks like a nipple on LSD

[12:58] {nemo} so ebay short or long here?

[12:58] {Threei}  back from LCD test session... yeah, there is something to it

[12:59] {Threei}  short is anything... but not a strong setup

[13:02] {Threei}  is = if

[13:02] {Threei}  damn lcd

[13:02] {Threei}  LSD too

[13:02] {Threei}  back to vodka

[13:02] {nemo} peyote and psylocibin fan myself

[13:02] {nemo} or, however you spell it

[13:15] {dino} mcd drop

[13:33] {dptl} out abc

[13:34] {Threei}  yeah

[13:34] {Threei}  oh well

[13:56] {dptl} lvlt?

[13:57] {dptl} .40 long?

[13:58] {Threei}  need one more light pullbackm to establish resiatanvce

[13:58] {Threei}  or a min or two more of consolidation

[13:58] {dptl} k

[13:59] {Threei}  SPY continues down though

[14:00] {Threei}  keep stop under .30

[14:00] {dptl} didn't get it yet

[14:01] {nemo} we in anything vad, that is, other than the usual

[14:02] {Threei}  LVLT, dp's find

[14:02] {dptl} in .41

[14:03] {Threei}  if works, aim for 1:2

[14:07] {Threei}  doesn't

[14:07] {dptl} out

[14:07] {Threei} Short Setup: SLW  .50 break

[14:10] {Threei}  yesterday's low

[14:10] {Threei}  good support to break

[14:11] {Threei}  if stays under .60

[14:16] {dptl} in

[14:16] {sciborg} in

[14:16] {_soccer34k} in]

[14:16] {nemo} pay attention to the .55 area in iwm, if volume comes in hard, they may try to turn the market there

[14:18] {Threei}  SPY has quite ominous look

[14:18] {nemo} get's through .46 got a long way to go

[14:18] {nemo} they work together and the volume came in on iwm

[14:19] {thomcbell} what time frame on the spy Vad

[14:19] {Threei}  any, intraday

[14:20] {dino} theres your .55 iwm

[14:20] {thomcbell} daily looks bad to me 

[14:20] {_soccer34k} come SLW I know you want to go lower

[14:20] {nemo} this is the level on iwm, this drops good night irene, throw the women and children overboard

[14:20] {nemo} this is the key

[14:21] {sciborg} crossing fingers

[14:21] {nemo} .54 is WPP on IWm

[14:21] {Threei}  new low

[14:21] {nemo} least you could do is pick up a 2X$ wtf

[14:21] {Threei}  let the panic begin

[14:21] {nemo} 2X4

06[14:22] * Threei hits SLW over the head with 2x4

[14:22] {nemo} no, hit IWM eerything will go with it

[14:22] {Threei}  I am a focused one

[14:23] {nemo} where's Les when you need him

[14:23] {_soccer34k} any target on SLW guys?

[14:23] {nemo} frankly though, major positive divergences on both IWM and SPY

[14:23] {Threei}  hard to telll, this thing has no support down to .15

[14:23] {Threei}  but it doesn't really trade on its own merits

[14:23] {sciborg} that would be nice at .15

[14:23] {Threei}  does with general market

[14:24] {Threei}  goes

[14:24] {_soccer34k} Ok-I'll keep watching

[14:24] {_soccer34k} stop at .60 still?

[14:24] {Threei}  I'd trail it to ,56

[14:27] {Threei}  come on SLW, are you blind?

[14:27] {nemo} o.k. we're screwed short away

[14:28] {nemo} shit

[14:28] {nemo} IWM is holding, wtf

[14:28] {nemo} I want disease, pestilence and mayhem

[14:28] {nemo} I want to hear wailing women, children crying at the death of their parents...wtf

[14:29] {Threei}  very graphic

[14:29] {nemo} am I going over the top?

[14:29] {Threei}  all I want is SLW dropping like a rock

[14:29] {nemo} heisenberg's boiling water paradox

[14:29] {Threei}  IWM is about to lose .50

[14:31] {dptl} xmm

[14:31] {Threei}  can't believe this thing is holding while panic hits the market

[14:31] {Threei}  normally it's right there with SPY

[14:33] {Threei}  shouldve picked FCX this time

[14:33] {Threei}  and TZA

[14:33] {nemo} yeah, precious metal miner vs industrial miner

[14:34] {sciborg} TZA keeps climbing higher and higher

[14:34] {Threei}  sure, it's opposite to SPY

[14:35] {Threei}  grrr... got the marjket direction just right, and picked wrong candidate to exploit it

[14:36] {dptl} still in?

[14:36] {Threei}  yeah, but losing faith in it

[14:37] {Threei}  starting to look for TNA bounce

[14:38] {nemo} we bounced off of monthly S1

[14:38] {Threei} Long Setup:  TNA  .40 break hl

[14:38] {nemo} take it as a scalp

[14:38] {Threei}  stop under .25

[14:39] {Threei}  out SLW

[14:39] {dptl} stopped slw

[14:40] {nemo} if market dropping hard, they'll be looking to hedge through precious metal plays

[14:40] {Threei}  TNA target .70

[14:40] {Threei}  two partials

[14:42] {Threei}  1:1

[14:42] {Threei}  stop to .39

[14:42] {nemo} balls of titanium

[14:42] {nemo} don't tarry long though

[14:42] {Threei}  crome-plated, too

[14:42] {nemo} crome=Chrome

[14:43] {nemo} I think this is gonna drop more

[14:43] {dino} yeah

[14:43] {Threei}  let's get to second exit first

[14:44] {Threei}  who's on first

[14:44] {dino} whats on second

[14:45] {nemo} vodka

[14:45] {Threei}  scalpers win

[14:45] {nemo} [14:40] {nemo} take it as a scalp

[14:46] {nemo} like my selective choice of showing when I'm right and never citing when I'm wrong

[14:46] {Threei}  grrr... rinse

[14:47] {_soccer34k} snagged our stops and then let it run

[14:47] {Threei}  hits target now

[14:48] {nemo} bottoms have a habit of doing that

[14:48] {Threei}  overtightened stop a bit

[14:48] {Threei}  well, half of profit is still a profit

[14:49] {nemo} bunny finally woke up

[14:49] {Threei}  this trade perfectly summarizes today: profitable, and playing it safe ina very volatile environment, and getting direction right - but underutilizing the potentail

[14:50] {nemo} under utilizing during unusuall volatility is not necessarily a problem

[14:51] {Threei}  it's the opposite side of the coin, tighter risk control leads to diminished potential... but still feels like I could have squeezed more out of today

[14:51] {Les} what are we in?

[14:51] {Threei}  just finished TNA

[14:51] {Les} ok

[14:52] {Les} IN!

[14:52] {Threei}  lol

[14:53] {nemo} Les, out running around in your pajamas?

[14:53] {nemo} btw...thanks for sending me the links yesterday, got completely distracted watching episodes from my youth...what BS

[14:54] {Threei}  bike used in the speeding video is found and seized

[14:55] {dptl} how's that pilot doing?

[14:55] {Threei}  no word

[15:02] {dino} tpx drop

[15:03] {Les} .

[15:08] {nemo} lvs might be a short here

[15:09] {nemo} actually two way, vwap at .78

[15:11] {Threei}  can't tell next move direction here

[15:11] {Threei}  waiting for more certainty

[15:12] {nemo} if they want to keep confusion, they move higher

[15:12] {dino} goping lower

[15:12] {dino} going

[15:12] {Les} groping?

[15:13] {dino} :s

[15:13] {nemo} gs sucking wind...funny thing even during the bounce they were sucking wind

[15:18] {dino} skul drop

[15:25] {dino} mcd sm l .98

[15:31] {Threei}  looking for the last play

[15:31] {Threei}  trying to follow Beau's wife advice

[15:32] {Les} grope lower?

[15:33] {Les} wait, that's dino

[15:34] {Les} what advice does Beau's wife offer?

[15:34] {Threei}  very stute

[15:34] {Threei}  astute

[15:34] {Les} RIG

[15:34] {Les} .30 b/d?

[15:34] {dino} mcd to .00, back in ten 

[15:34] {Threei}  "if some trades work and some don't, whny don't you take only those that work?"

[15:35] {Threei}  not sure about RIG

[15:35] {Les} ugh, I hate explaining that

[15:36] {Les} to non-traders

[15:39] {Beau} humor les, joke,funny. 

[15:39] {Les} yeh I understand

[15:39] {nemo} she blonde?

[15:39] {Les} I was thinking of my own wife Beau

[15:40] {nemo} she blonde

[15:40] {Beau} actually, yes

[15:40] {Threei}  RIG

[15:40] {Threei}  like it a bit more now

[15:41] {Threei}  let's make it last play for today if triggers

[15:41] {Threei}  and dp... watch the clock!!

[15:41] {Threei} Short Setup: RIG  .30 break

[15:41] {dptl} lol...ok

[15:42] {nemo} vwap at .12

[15:44] {Threei}  invalidated

[15:44] {Threei}  if you go for a fade, keep it to a scalp only

[15:46] {Threei} Long Setup:  TZA  .40 break

[15:46] {Threei}  just a quick scalp

[15:46] {nemo} nah, iwm going to 80

[15:47] {Threei}  invalidated if loses .35

[15:47] {nemo} iwm going to vwap, spy looks like going to 138

[15:50] {Threei}  out .45 and .46, 4x lots

[15:51] {Threei}  still not feeling like the day was utilized fully... but that feeling is dumbed down a bit

[15:51] {Threei}  feel free to exit here

[15:52] {Threei}  good way to finish this thing up

[15:57] {Threei}  OK guys, thank you all

[15:57] {Les} cheers

[15:57] {Threei}  have a good evening, let's finish the week tomorrow with a bang

[15:57] {dptl} gn all

[15:58] {dino} thx all, gn

Apr 18 2012

Perfect day with a single 6 cents stop and a whole lot of trades working one after another, majority of them being much more than scalps. Did I say it was a perfect day?

Session Time: Wed Apr 18 00:00:00 2012

[09:02] {Threei}  IMF Global Financial Stability Report (GFSB): Sovereign bond markets remain fragile; European banks are risking a new global financial crisis

[09:02] {Threei}  new? what happened to old one?

[09:15] {dptl} good morning

[09:15] {Threei}  dp :)

[09:15] {Threei}  your heart is not racing anymore?

[09:15] {dptl} :)....i have nice medicine

[09:16] {MigC}  good morning

[09:17] {Threei}  migc :)

[09:18] {Threei}  I can't believe I still remember how to do this crap... it's so 1998

[09:24] {Les} morning

[09:24] {Threei}  les :)

[09:24] {Beau} good morning you all

[09:24] {Threei}  beau :)

[09:26] {dino} gm

[09:26] {Threei}  dino :)

[09:26] {ese} morning....

[09:27] {Threei}  ese :)

[09:28] {ese} if this were an up day dino i'd expect sprd to take off if it breaks yesterdays high

[09:28] {ese} morning vad

[09:28] {ese} don't think thats going to happen

[09:30] {dino} hmm

[09:31] {Threei} Long Setup:  FCX  .55 break

[09:31] {Threei}  hl

[09:33] {Threei}  change to .50 if stays above .40

[09:35] {Threei}  calid again

[09:35] {Threei}  valid

[09:35] {Threei}  target .75 - .80

[09:35] {Threei}  1:1

[09:36] {Threei}  1:2

[09:36] {Threei}  target hit, out

[09:38] {ese} nice call vad fcx.....

[09:38] {Threei}  ty

[09:38] {ese} got distracted....didn't get in....too bad

[09:39] {ese} classic move...shakeout...buy cheap shares reverse

[09:39] {Threei} Short Setup: X  .40 break

[09:39] {Threei}  if styas under .50

[09:40] {Threei}  not yet

[09:42] {dino} met l .90

[09:44] {Threei} Long Setup:  SLW  .05 break

[09:44] {dino} stop met -.03

[09:45] {Threei}  if stays above .95

[09:47] {Threei} Long Setup:  LVS  .10 break hl

[09:47] {Threei}  invalidated

[09:48] {Threei}  so is SLW

[09:49] {Threei}  LVS, change to 60 break

[09:49] {Threei}  invalidated again

[09:49] {ese} L seed .07

[09:50] {ese} sorry bit of a late call

[09:50] {ese} volitile was watching the L2

[09:51] {ese} out 1/2 .17 +.10

[09:51] {ese} balance to b/e

[09:51] {Threei} Long Setup:  CAT  109 break hl

[09:51] {Threei}  if stays above .85

[09:53] {Threei}  trail to .89

[09:53] {nemo} how you get .85 for stop?

[09:53] {ese} out in full .24 +.17

[09:54] {Threei}  1:1

[09:54] {Threei}  can't show on the chart, ,ovements that made it a support happened within 1 min... had to watch Level 2

[09:55] {_soccer34k} What do you mean when you say "hl" and "1:1"?

[09:55] {Threei}  1:2, out in full

[09:55] {Threei}  hl = half lot

[09:56] {dino} sprd l .51

[09:56] {ese} tnp dino

[09:56] {Threei}  about 1:1 etc, please go to http://www.realitytrader.com/tradingroom/ and scroll down to How Trading Room Operates

[09:56] {Threei}  1:3... exited too soon

[09:57] {_soccer34k} Ahh got it, I think i read that yesterday-stupid me

[09:58] {Threei}  hey, all day traders have memory span of a fish

[09:58] {Les} what were we talking about?

[09:58] {Threei}  except me - mine is one of a moth

[09:58] {Threei}  who is Les?

[09:58] {ese} ya.....been on this board for 5 years and my memory is shorter yet

[09:58] {nemo} he's dead, remember the gravestone?

[09:58] {Threei}  lol

[09:59] {ese} lol...........

[09:59] {nemo} where is that?

[09:59] {dino} tnp gap 6.71

[09:59] {ese} ya

[09:59] {dino} clne l .20

[10:00] {dino} tnp secondary

[10:00] {Threei}  http://www.realitytrader.com/vad/LES.JPG

[10:01] {ese} L tnp .19 sm

[10:01] {Les} slw

[10:01] {Threei}  SLW again shows a lot of relative weakness

[10:01] {Threei}  looking for a short entry

[10:02] {dino} atk drop

[10:02] {nemo} bullet mfg drop! wtf

[10:03] {Threei} Long Setup:  FCX  .80 break

[10:03] {Threei}  if stays above .70

[10:03] {dino} sprd stop -.12

[10:05] {Threei} Short Setup: SLW  .75 break

[10:06] {Threei}  stop above .85

[10:06] {Threei}  not a scalp for me

[10:06] {Raven} where did you get that gravestone ???

[10:06] {Threei}  unlike FCX which is most likely just a scalp

[10:06] {Threei}  ummm... you sent it to me a few years ago :)

[10:07] {Raven} it is copyrighted!

[10:07] {Threei}  why, looked too familiar?

[10:07] {Threei}  by whom?

[10:07] {Raven} ME

[10:07] {Raven} lol

[10:07] {Threei}  well... since YOU sent it to me... I guess you forfeited that :)

[10:08] {Raven} oh well :)

[10:08] {Threei}  but if someone pays me for viewing that, I promise to share

[10:08] {Raven} memories of Tombstone, AZ

[10:08] {Les} as in the film tombstone?

[10:09] {Raven} I guess they made that there, yes

[10:09] {Threei}  FCX 1:1

[10:10] {Threei}  SLW acts like a good salmon

[10:11] {Threei}  FCX scalp designation was right

[10:11] {Threei}  1:1 SLW

[10:11] {Threei}  first partial

[10:11] {Threei}  stop to .76

[10:12] {Les} slv potential db here

[10:14] {cipher} atk l .00

[10:16] {dino} l hig .05

[10:16] {dino} sm l sina .00

[10:18] {nemo} if it drops your stop, looks real short on the daily

[10:19] {Threei}  1:2

[10:19] {Threei}  1/4 more out

[10:19] {Threei}  stop to .71

[10:21] {ese} gotta go cya tomorrow....still L tnp stop in at  .03

[10:21] {Threei}  take care ese

[10:21] {Threei}  gotta decide now, to take it all off at 1:3 or trail and try for more

[10:22] {nemo} trail stop to .60

[10:22] {Threei}  we have what today, 4 out of 5?

[10:22] {Threei}  good buffer of fat

[10:22] {Threei}  I'd say, let's see if we can squeeze more out of the last piece

[10:23] {Threei}  it's remarkably weak, and market reverses down as well

[10:23] {Threei}  stop .66 at this point

[10:26] {Threei}  well, matter resolved itself, lol

[10:28] {nemo} slw should get to .80 area, then might be re shortable

[10:29] {nemo} tna might be long above .40 if spy goes above .75

[10:30] {Threei}  *(US) DOE CRUDE: +3.86M V +1ME; GASOLINE: -3.67M V -500KE; DISTILLATE: -2.9M V -500KE;

[10:30] {nemo} oil should go up a coupla bucks on that

[10:32] {dino} out hig .12, +.07

[10:33] {cipher} tna l .20

[10:34] {cipher} out 1/2 .40

[10:34] {cipher} out in full .54

[10:35] {Les} good move

[10:35] {Les} bullish divergences abound in that setup

[10:35] {Threei}  wtg

[10:35] {cipher} thx for the idea nemo 

[10:36] {cipher} out atk .19 +.19

[10:38] {nemo} yw cipher

[10:38] {nemo} just about came back to the low

[10:38] {Threei}  beaitiful morning so far, with almost every trade working like charm

[10:39] {nemo} notice how spy broke below pivot but immediately recaptured it

[10:40] {Les} what do you call it? Bear sodomy?

[10:40] {cipher} lol

[10:42] {nemo} ursine sodomy

[10:42] {nemo} yes

[10:42] {Les} right

[10:42] {nemo} and of course there's taurine excrement

[10:43] {Les} now you're just talking dirty

[10:44] {nemo} yeah, as the Merovingian said about talking in French, it sounds like you're wiping your ass with silk

[10:44] {nemo} we're gonna rip

[10:45] {dino} whr sm l .20

[10:46] {Threei} Short Setup: FSLR  22 break hl

[10:48] {Threei}  if stays under .15

[10:51] {dino} out whr .50, +.30

[10:52] {Threei}  gj

[10:52] {dino} ty

[10:55] {Les} yeh right

[10:55] {nemo} wow, guess you had to buy this side of the trigger

[10:55] {Les} had to be in it to win it

[10:58] {nemo} hal is gonna go

[11:04] {Les} lvs breakout failure here?

[11:04] {Les} 60 short?

[11:04] {Threei}  not sure

[11:05] {Threei}  anyone went for FSLR conservative entry?

[11:05] {Threei}  after the bounce?

[11:05] {Threei}  whoa

[11:05] {Threei}  what's up

[11:06] {Threei}  or in this cadse, down

[11:06] {Les} HAL .20 b/d was good setup

[11:06] {Les} inverted c&h on iwm?

[11:06] {nemo} notice it's strength in this fall

[11:07] {Les} 3 min chart

[11:11] {nemo} mmmmhhh, tna again maybe

[11:11] {nemo} nothing convincing yet though

[11:11] {Threei}  no...

[11:12] {Threei}  let SPY form double bottom

[11:12] {nemo} if it gives you a double here

[11:12] {Threei}  it bounces on decreasing volume, not a good place to enter long

[11:13] {nemo} futures getting hit

[11:13] {Threei}  here we go... if SPY holding .60, you'll get TNA entry

[11:13] {Threei}  if loses, stay away for now

[11:14] {Threei} Long Setup:  TNA  56 break hl

[11:14] {Threei}  if holds .90

[11:14] {nemo} spy gonna test it's bottom

[11:14] {Threei}  invalidated by SPY losing .60

[11:15] {Threei}  FSLR changes to long play meanwhile

[11:15] {Threei} Long Setup:  FSLR  22 break hl

[11:15] {Threei}  if stays above .90

[11:16] {nemo} liking tna above .90 but not sure spy holds .50

[11:17] {nemo} in .91

[11:19] {nemo} 1/2 out

[11:19] {Les} 15 min pos crossover. could be big move

[11:21] {nemo} I'm out

[11:27] {Threei} Long Setup:  TNA  56 break hl

[11:28] {Threei}  if holds .90

[11:28] {Threei}  1:1 in a blink of eye

[11:28] {nemo} yeah, before you could grab it ;)

[11:28] {Threei}  why, it was obtainable

[11:28] {Threei}  didn't spike throuhg levels

[11:28] {nemo} i heard the beep, looked over and it had broken

[11:29] {nemo} np

[11:30] {nemo} spy has to test the pivot again

[11:35] {nemo} get's interesting here as iwm comes to bottom so does spy

[11:35] {nemo} fslr interesting too

[11:36] {nemo} took small fslr .70

[11:36] {nemo} .59 stop

[11:37] {nemo} mmmhhh...don't think fslr was a good idea

[11:37] {nemo} loing tna .81

[11:37] {nemo} loing

[11:37] {nemo} oh vad

[11:38] {nemo} 1/2 .92

[11:38] {nemo} I'm scratching flsr

[11:39] {Threei}  it was a good entry, I was just late to alert

[11:40] {nemo} on what?

[11:40] {Threei}  TNA .80 break

[11:40] {nemo} ahhh

[11:41] {nemo} I"m playing this safe though I'll give it to .74

[11:43] {nemo} damn, fslr might work

[11:43] {dptl} rvbd .90 break?

[11:43] {nemo} mmmhh, should I take some more

[11:44] {Threei}  worth a try RVBD

[11:44] {dptl} in .91

[11:44] {dptl} .84 stop

[11:45] {nemo} I got support around .78

[11:45] {nemo} took another 1/4

[11:46] {nemo} stop .79 for the last

[11:48] {Threei}  beautiful trade

[11:49] {Threei}  clean double bottom setup, state of art

[11:49] {nemo} ;)

[11:49] {Threei}  amazingly easy day, just as we like them

[11:49] {Threei}  not like work at all

[11:50] {nemo} it was a gap but not a gap trend day

[11:51] {Threei}  yup

[11:52] {nemo} don't like the time, but spy break north here would be an add on

[11:53] {nemo} having said that spy pivot and vwap at .72, might not do much more at lunch

[11:53] {Threei}  I'd trail stop to .95

[11:53] {Threei}  and wait to see if it can break .20 and spike

[11:54] {_soccer34k} missed TNA :-/

[11:54] {nemo} I think spy goes to .72 so iwm should go with it, I just don't think it justified taking another lot

[11:54] {_soccer34k} damn...

[11:54] {Threei}  there

[11:54] {nemo} well, overthought that, didn't I

[11:54] {Threei}  exit as you see fit

[11:54] {Les} nice one

[11:54] {nemo} .55 my target

[11:54] {Threei}  a lot of fish around soccer... don't get upset

[11:55] {Threei}  trading is not an event, it's a process

[11:55] {_soccer34k} missed your guys 2 biggest calls but still up a little on the day, im learning

[11:55] {Threei}  no single trade is as significant that it would be worth getting worked up about

[11:56] {_soccer34k} X killed me

[11:56] {nemo} I'm taking it here, looking at iwm we're at vwap and MPP

[11:56] {_soccer34k} shouldn't have triggered

[11:56] {Threei}  X? how?

[11:57] {_soccer34k} messed it up. Still learning how to use sterling platform and I hit MKT order by mistake

[11:57] {Threei}  if I remember correct it was invalidated... but even if not, 10 cents stop?

[11:57] {Threei}  awwww

[11:57] {Threei}  ugh

[11:57] {nemo} I love hitting buy when you mean sell, myself

[11:57] {_soccer34k} yeah, it happens lol

[11:57] {nemo} Ya know what, I bet that was the bottom for the day

[11:58] {Threei}  well... each has his own favorite mistake

[11:58] {Les} mine is getting up each morning

[11:58] {Threei}  dp for instance likes falling asleep wiht open position 30 seconds before market close

[11:58] {dptl} lol

[11:59] {Threei}  so he has to manipulate thin level 2 after close to get out

[12:00] {Threei}  but I forgive him... he brough me a present ese still remembers fondly, glass AK-47 filled with vodka... and he laughs at my jokes

[12:00] {Threei}  which is more than can be said about 99% of those who know me

[12:03] {Threei}  dp, I don't know about this RVBD anymore... it lost determination and turned into jellyfish

[12:03] {dino} uri spike

[12:04] {dptl} ye...

[12:04] {nemo} mmmhhh, flag play tna here?

[12:04] {Threei}  from between .10 and .20 yes

[12:05] {Threei}  above .20, coin toss

[12:05] {Threei}  I'd take scalp RVBD

[12:05] {dptl} out rvbd

[12:05] {Threei}  not worth it

[12:06] {Threei}  view this spike as "it let me out"

[12:06] {dptl} :)

[12:11] {Threei}  TNA becones interesting

[12:11] {dino} whr sm l .15

[12:11] {Threei} Long Setup:  TNA  .05 break

[12:11] {Threei}  hl

[12:11] {Threei}  .95 stop

[12:12] {dptl} in

[12:12] {nemo} ballsy

[12:13] {nemo} playing natural whole number support?

[12:13] {Threei}  1:1 is c,lose enough

[12:14] {Threei}  lunch time scalp, out

[12:14] {Les} ty sir

[12:14] {Threei}  pretty much, but most importantly:

[12:14] {nemo} actually, might get more out of it than you think

[12:14] {Threei}  it fell good 40 cents in that natural support

[12:14] {Threei}  with practically no bounce

[12:14] {nemo} kinda nice bull flag on spy

[12:15] {Threei}  and at this time of the day I wouldn't expect this much determination and momentum, it was bound to bounce

[12:15] {Threei}  welcome les

[12:15] {Threei}  dp, look at RVBD... chinese watr torture would have still be on, lol

[12:16] {dptl} ye,,,glad to be out with few cents

[12:18] {dptl} tck?

[12:18] {Threei}  ahhh.... here is where that selling came from:

[12:18] {Threei}  . In Europe, indices are heading for the close just off their lows as investors sell ahead of Thrusday's dreaded French and Spanish bond auctions

[12:18] {nemo} futures volume is ridiculously low, any volume can push the indices anywhere

[12:18] {Threei}  not delighted by the range, TCK

[12:18] {Threei}  a bit too narrow

[12:19] {nemo} wpi on the 15 minute

[12:19] {dptl} k

[12:19] {Threei}  another water torture stock that can keep you a hostage for hours

[12:19] {nemo} damn, that looks like it's going to grind higher

[12:20] {nemo} low volume though

[12:25] {Threei}  Only 49% Say Their Home Is Worth More Now Than When They Bought It

[12:26] {Threei}  mine certainly is...

[12:26] {Les} I'm with them...

[12:26] {Les} what recession? :)

[12:32] {Threei}  my feel is, we are going to get some panic soon

[12:32] {Threei}  watching TZA for entry on pullback to or under .20

[12:35] {dino} uri crazzzzyyyy

[12:38] {dino} whr to .50

[12:40] {Les} back at 3pm. cheers

[12:41] {dino} whr stuck to .55

[12:41] {dptl} fcx??

[12:42] {Threei}  no news

[12:42] {dino} out +.40

[12:42] {Threei}  no idea why it decided to go the moon

[12:42] {dptl} and volume

[12:44] {Threei}  ok TZA

[12:44] {Threei} Long Setup:  TZA  .20 break

[12:44] {_soccer34k} you in TZa/

[12:44] {_soccer34k} ?

[12:44] {Threei}  if stays above .15

[12:44] {dptl} in .21

[12:45] {_soccer34k} in .20

[12:46] {Threei}  two supports, equally important, .15 and .10

[12:46] {Threei}  I prefer tighter stop and multiple attempts if needed

[12:46] {Threei}  idea is to start partialling near .30

[12:47] {Threei}  and hold part for all-out break

[12:52] {Threei}  SPY break of .60 support should do the trick

[13:04] {Threei}  SPY doesn't break support for now

[13:05] {Threei}  TZA is not likely to work this time

[13:13] {Threei}  main problem is how to keep my eyelids open... toothpicks don't help

[13:16] {Threei}  ok... .25 break WILL wake me up

[13:17] {Threei}  (EU) OECD's Gurria: Eurozone recession not expected to be deep or last for a long time

[13:17] {Threei}  nope... Eurozone will fall apart, so...

[13:17] {nemo} super glue or nail gun

[13:19] {nemo} wow fcx

[13:20] {nemo} think two way here vad

[13:21] {Threei}  I know you have a dirty mind

[13:21] {nemo} nah, that would be threeway

[13:21] {Threei}  oh, you mean FCX...

[13:21] {nemo} leave bunny out of it

[13:22] {Threei}  I don't know... no opinion on it

[13:22] {Threei}  on FCX, not bunny

[13:23] {nemo} she sat there and watched me clean her cage, weird

[13:25] {nemo} shirt

[13:25] {nemo} short .39

[13:25] {nemo} stop above .46

[13:25] {nemo} smal lunch

[13:28] {nemo} mmmhhh spy and iwm drop, fcx does not

[13:31] {nemo} drops .37 should get a little momentum

[13:32] {nemo} Ya know, this whole Kardashian stuff, just don't get it

[13:32] {Threei}  half out

[13:32] {nemo} of what

[13:32] {Threei}  sheesh... investor stuff...

[13:32] {Threei}  TZA, jeez

[13:32] {nemo} oh, must have missed that

[13:33] {Threei}  12:46] {Threei} idea is to start partialling near .30

[13:33] {nemo} told ya' I was cleaning bunny's cage, taking a break from the screen

[13:33] {nemo} 1/2 out fcx .30

[13:33] {dptl} out half

[13:34] {nemo} what you an investor to Mr tl?

[13:34] {dptl} where is your stop now Vad?

[13:34] {Threei}  .19

[13:35] {dptl} ok ty

[13:35] {Threei}  next target if above .35

[13:35] {Threei}  and then will try to decide what to with last one

[13:35] {Threei}  soccer, you are good?

[13:36] {nemo} my stop .42

[13:38] {Threei}  out 1/4 more

[13:38] {Threei}  .38

06[13:38] * nemo whacks fcx with a crane bucket

[13:39] {dptl} me too .38

[13:39] {Threei}  like fish in a barrel today

[13:39] {dptl} stop for last under .30?

[13:39] {Threei}  I lost count of winning trades today

[13:39] {Threei}  a lot out of a lot

[13:40] {Threei}  yes, .29 stop

[13:41] {dptl} ty

[13:44] {nemo} taking some more here on fcx

[13:44] {nemo} 1/4 left

[13:44] {Threei}  nice one

[13:45] {nemo} thinking it might be getting close to a long depending on indexes

[13:46] {nemo} stop .32 for now

[13:47] {Threei}  oh boy

[13:48] {Threei}  read this

[13:48] {Threei}  (DE) German Chancellor Merkel: unhappy that financial markets have not contributed to resolving the financial crisis

[13:48] {Threei}  wtf, are you thisid?

[13:48] {nemo} mmhhh, i don't get it

[13:48] {Threei}  markets do not controbute to your purposes, chancelor... or anyone else

[13:49] {Threei}  they reflect summarized viewson the future developments

[13:50] {Threei}  but of course you need pretext for your idiotic financial tax or some other regulation tightening

[13:50] {Threei}  unfrikinbelievable lack of understanding of anything

[13:57] {_soccer34k} sorry guys I had to sell TZA early bc I had a meeting but still made a profit. Damn real job....

[13:57] {dptl} stop to .34

[13:57] {Threei}  argh

[14:01] {nemo} spy looking like might be getting ready to reverse a bit

[14:01] {nemo} stop is .26 on fcx

[14:03] {nemo} that was a timely stop move

[14:04] {nemo} maybe not, might have been hunting my stop

[14:04] {nemo} they're always out to get me

[14:04] {Threei}  and even if you are paranoid, it doesn't mean they are not after you

[14:05] {sciborg} Hey everyone..I am late today.. Did I miss all the wins ? $$ 

[14:05] {nemo} rigth

[14:05] {Threei}  oh boy sciborg

[14:05] {Threei}  you have no idea

[14:05] {nemo} yeah, go back to your hive

[14:05] {sciborg} lmao

[14:05] {Threei}  every frikin trade worked like charm

[14:05] {nemo} bastids got my stop

[14:05] {sciborg} wow Awesome $$$$

[14:05] {nemo} looks like spy going to pivot

[14:06] {dptl} all out tza

[14:06] {Threei}  you couldn't pick worse day to miss... :(

[14:06] {dino} whr sm l .90

[14:21] {dino} fire spike

[14:27] {Threei}  gwtting interested in TZA again

[14:28] {nemo} not seeing the weakness in spy and iwm, maybe for a scalp

[14:30] {nemo} I feel like there's more upside coming

[14:30] {nemo} actia;;u. O tjoml bu tp,prrpw we

[14:31] {nemo} sorry

[14:31] {nemo} actually think we challenge week highs by tomorrow looking at 15 minute charts

[14:34] {Threei} Long Setup:  TZA  .10 break

[14:34] {Threei}  if stays above .05

[14:37] {dptl} in

[14:37] {sciborg} in

[14:38] {Threei}  play on double topping SPY, needs SPY to lose .80 to shine

[14:40] {Threei}  hard to tell scalp or more

[14:42] {nemo} .72 vwap and support for spy

[14:42] {nemo} .21-.25 for iwm

[14:58] {nemo} o.k. iwm is topped in this range by 23.6% retracement of march bottom to the high, and the vwap at .25, isn't this fun Aaaaaand...80.30 is the QPP

[14:58] {nemo} SPY MPP is 139ish, think we go there

[14:59] {Threei}  no worky

[14:59] {dptl} out

[14:59] {nemo} nobody believes me

[15:00] {Threei}  hello Cassandra

[15:01] {nemo} bunny calls

[15:01] {nemo} shooting elastics at her

[15:02] {nemo} interesting, that is a low momentum spike

[15:06] {Les} what are we in?

[15:06] {Threei}  coma

[15:06] {nemo} OH, Les, if they'd only listened to me

[15:07] {Les} tight range I see

[15:15] {dptl} dish for bounce  may be?

[15:17] {Threei}  no clear setup

[15:19] {nemo} mmmhh, it kinda played out:  [15:04] {nemo} interesting, that is a low momentum spike

[15:19] {nemo} this is the defecate or exit the loo point for IWM

[15:20] {nemo} both spy and IWM looking bounce here

[15:22] {dino} whr stop -.33

[15:25] {Threei}  When Facebook CEO Mark Zuckerberg announced that the company was acquiring photo-app Instagram for $1 billion, the news was quick and shocking, but what happened (or didn't happen) behind closed doors is even more jaw-dropping.

[15:25] {Threei}  According to the Wall Street Journal, when discussions with Zuckerberg began, Instagram CEO Kevin Systrom originally asked for $2 billion. Ultimately, this amount was cut in half, although the final price was nothing for a small start-up to scoff at, especially since they had yet record any revenue themselves, reports CNet.

[15:26] {Threei}  It wasn't until the two CEOs came to an agreement that Zuckerberg informed Facebook's board of directors. A source stated that the young CEO, who accounts for about 57% of voting rights, told the board on April 8, the day before the public announcement was made and three days after negotiations began.

[15:27] {Les} photo apps for a billion huh?

[15:27] {Threei}  shrug

[15:27] {Threei}  I still don't understand what it is he bought

[15:28] {Les} I would have bought a drug cartel or a small island, but that's just me

[15:28] {Threei}  there are how many photo sharing apps?

[15:29] {Threei}  some strange movements

[15:29] {nemo} the top is in

[15:29] {Threei}  Fitch warned netherlands about downgrade but that was out more than 10 min ago

[15:29] {nemo} spy just pulled back to pivot

[15:29] {nemo} vwap there too

[15:30] {nemo} today has been purely technical

[15:30] {Threei}  that's why our trades worked like charm

[15:33] {nemo} we bottomed at the 50% retracement of the march low andmost recent high of spy, which was just above the yearly R1

[15:33] {nemo} today we touched yesterday's close, which was just above the MPP

[15:40] {dptl} got to go......see you all tomorrow....

[15:41] {Threei}  take care dp... might be a good thing

[15:41] {Threei}  we need to start removing you frolm the market 10 min before the bell

[15:41] {nemo} spy looks long, but I'm thinking equal opportunity buggering here

[15:41] {Threei}  so you don't miss it again, lol

[15:41] {dptl} lol...

[15:44] {Threei}  don't see any clear play for the end of day

[15:44] {nemo} I do...

[15:44] {Threei}  maybe TNA .35 break

[15:44] {nemo} And it comes in a bottle...

[15:44] {Threei}  but that's kind of 51/49

[15:44] {dino} lol

[15:45] {nemo} [15:43] {nemo} spy looks long, but I'm thinking equal opportunity buggering here

[15:53] {Les} x 29

[15:56] {Threei}  OK guys

[15:56] {Threei}  thank you all

[15:56] {Threei}  great day

[15:56] {Threei}  have a nice evening, see you tomorrow

[15:56] {sciborg} k c ya 2morrow :)

[15:57] {Les} cheers

[15:57] {dino} gn