March 25 2013

Uneven day which ended profitably but was sprinkled generously with missed opportunities. 4 or 5 trades where we got the right read but couldn't grab an entry as stocks jumped right over our tigger leaving us on the platform, all too disciplined to chase and entry. Oh well, profit is profit, shouldn't complain too much I guess - no one likes a crybaby, right?

Jump to 11:46 to 11:41 for a dialog about gurus MO

Session Time: Mon Mar 25 00:00:00 2013

[08:57] {jdetente} good morning

01[08:58] {Threei}  jd :)

[09:04] {dino} gm

01[09:06] {Threei}  duno, welcome back

01[09:06] {Threei}  how was it?

[09:07] {dino} good time, but rained out last 2 days

01[09:07] {Threei}  still better than snow

[09:08] {dptl} gm

01[09:08] {Threei}  dp :)

[09:08] {dino} yes

[09:14] {nemo} bbry

01[09:14] {Threei}  poor thing can't catch a break

[09:15] {thomcbell} dino - Vad culled a superb short entry on friday - 

[09:17] {ese} gm

[09:18] {cipher} gm

01[09:20] {Threei}  ese, cipher :)

[09:20] {Will49} gm

[09:20] {ese} C will vad

01[09:20] {Threei}  will :)

[09:21] {backman} top of the day

[09:21] {cipher} ese

01[09:21] {Threei}  backman :)

[09:21] {ese} will you missed some excitement on friday.........the staff at the bar all came out and nicknamed us the "Grimbergen Gang".....was really funny

[09:21] {Will49} :(

01[09:22] {Threei}  two main question of this Monday: 1)How will Russia retaliate? 2)What is ravi's next nickname?

[09:22] {Will49} sorry we missed it

[09:22] {ese} ravi who?

[09:22] {ese} Shankar?

[09:22] {Will49} ravi-shing

[09:24] {thomcbell} Ravi-Shang funier

[09:24] {thomcbell} funnier

[09:24] {ese} tough crowd

[09:24] {Will49} only tough to look at

[09:25] {Les} morning

[09:25] {ese} les

01[09:25] {Threei}  only in tutu on lulu pants

01[09:25] {Threei}  les :)

[09:25] {Will49} LOL

01[09:28] {Threei}  wow... BBRY

[09:29] {dino} gs downgrade

01[09:30] {Threei}  yes... and two on Fri

01[09:30] {Threei}  BlackBerry Goldman Sachs Cuts BBRY to Neutral from Buy, price target: $17- Firm reports they are removing BlackBerry (BBRY from the Americas Buy List for two reasons. (1) The Z10 launch at AT&T on March 22 was disappointing, with limited marketing and tepid sell-through at AT&T and Best Buy stores alike. While they thought the international launch was solid, the US launch is critical for BlackBerry�s ultimate success. (2) Consensus has moved closer to their view that the mix shift to BB10 would drive upside to ASPs and margins, as reflected in the stock�s YTD appreciation, rising estimates, and several recent upgrades.

01[09:31] {Threei}  Cyprus archibishop calls for EU exit

01[09:32] {Threei}  watching LVS for long on pullback

01[09:36] {Threei}  one more leg down BBRY, and should be ready for reversal

[09:37] {cipher} sial l .48

01[09:38] {Threei}  got away

[09:38] {cipher} urbn l.54

[09:40] {cipher} out urbn .83 +.29

[09:40] {cipher} out sial .50 +.02

[09:41] {cipher} ebay l .67

[09:41] {Les} Ravi?

01[09:42] {Threei}  YESSS!!!!

[09:42] {cipher} out ebay .77 +.10

01[09:42] {Threei}  we have a winner

01[09:42] {Threei} Long Setup:  JPM  ..15 break

01[09:42] {Threei}  If holds  .10 

[09:43] {nemo} mmhhhh

01[09:44] {Threei}  no go

[09:44] {cipher} qcor l .00

01[09:45] {Threei} Long Setup:  BBRY  .80 break

[09:45] {cipher} vrtx l 60

[09:45] {cipher} out .70 +.10

01[09:45] {Threei}  If holds  .70 

[09:46] {cipher} out qcor .29 +.29

01[09:47] {Threei}  1:1

01[09:47] {Threei}  was so kind of it to pull back and pick us up

[09:47] {cipher} is ravi on never ending free trial?

[09:47] {dino} onxx spike

01[09:47] {Threei}  in his mind at least

[09:47] {backman} ebay approaching dl

01[09:48] {Threei}  5th username in two weeks

[09:48] {cipher} ebay l .61

[09:49] {nemo} market setting up for a pull back

[09:50] {ese} L rdn .58

[09:50] {cipher} out ebay -.04

[09:50] {cipher} qlik l .37

01[09:50] {Threei} Long Setup:  SLW  .80 break

01[09:50] {Threei}  If holds  .70 

01[09:51] {Threei}  actually let's make it aggressive

01[09:51] {Threei}  .75 break

[09:51] {cipher} ebay l .61

01[09:51] {Threei}  same stop, under .70

[09:51] {nemo} market should pull in here

01[09:51] {Threei}  that was fast

01[09:51] {Threei}  if you caught .75 break, 1:1

[09:53] {cipher} ebay stopped .63 +.02

[09:56] {cipher} CHKP L .86

[09:56] {cipher} out +.11

[09:58] {Les} bankster bb's tightening here

01[09:59] {Threei}  ugh... BBRY was worth a second entry at that same trigger

[09:59] {cipher} sgen l .76

[10:01] {cipher} qlik l .33

01[10:01] {Threei} Short Setup: CAT  .20 break

01[10:01] {Threei}  crap... another one too fast for entyr

[10:01] {backman} would u take it on bounce back?

01[10:02] {Threei}  not anymore, it hit 1:1

[10:03] {nemo} looks like trend day up

[10:04] {cipher} out QLIK .56 +.23

[10:04] {Les} C is under vwap

[10:04] {Les} watching if it heads lower

[10:04] {Les} banks behaving strangely

[10:04] {dino} onxx sm s .11 stop.35

[10:05] {nemo} you should know Les

01[10:05] {Threei} Long Setup:  GLD  .55 break hl

[10:05] {ese} my question...and sugestion is this.......do this ravi goof and mitra goof get a brief look at the board when they try to log on?  If so.......someone needs to make a really bad call with a buy in of like say 5000shs so that they get a brief look at it and then make a buy themselves.  Of course we need to know ahead of time about the call.........maybe that 

[10:05] {Les} learnt from the best ;)

01[10:05] {Threei}  If holds  .45 

[10:06] {ese} will get rid of these goofs

[10:07] {nemo} JCP dying

01[10:07] {Threei}  my favorite part is, whe new nick is getting kicked out, guess what happens

[10:08] {Les} C short .50?

[10:08] {cipher} out sgen .90 +.14

01[10:08] {Threei}  can't tell

01[10:08] {Threei}  too hectic chart

01[10:09] {Threei}  e-mail asking why he can't enter...

[10:09] {Les} isn't that just self frustration?

[10:09] {Les} not like he's gonna read them

[10:10] {ese} your kidding?......you got an email?....now don't that beat all

[10:10] {Les} oh he sent u an email? lol

01[10:10] {Threei}  yup, with each new nick

01[10:10] {Threei}  reshi, ravi, mitra

[10:11] {ese} how bout that stupidity..........can i answer one of those for you...........would be so much fun........please please please???

01[10:12] {Threei}  sorry... privacy of e-mail addreeses of false nicks is sanctious

01[10:13] {Threei}  GLD stop to .49

[10:13] {ese} darn!

[10:13] {dino} cov onxx .81, +.30

[10:14] {Les} banksters exiting stage left

[10:14] {Les} vwap test here for FAS

01[10:16] {Threei}  somewhat listless morning

[10:16] {nemo} ebay might be a nice short today

[10:17] {ese} Considering all the cypress hype

01[10:18] {Threei}  out GLD

[10:18] {jdetente} kind of a treading water morning so far

01[10:19] {Threei}  yup

01[10:19] {Threei}  no solid ground under feet

[10:19] {nemo} watch lvs between here and 55

[10:21] {ese} darn.....missed my chance to mitra.........L 25000shs dndn......hmmmm maybe he'll try to log on.........NOW

01[10:21] {Threei} Long Setup:  LVS  .50 break

[10:21] {ese} nail mitra

[10:21] {ese} VAD !!!!!!!!! don't take that call!!!!!!

01[10:21] {Threei}  Invalidated  

[10:22] {jdetente} whatcha smokin' ese??

[10:22] {jdetente} :)

[10:23] {ese} lol........was trying to nail mitra........hoping he would try to log on and get a glimpse of that dndn call

[10:24] {ese} but it was vad

01[10:25] {Threei}  no news for this wierd SPY drop

[10:25] {Les} trendline break short of IWM worked well nemo, lacking courage of convinction on IWM break short. stopped out flat

[10:25] {thomcbell} your instincts were way correct on lvs buying the first pullback 

[10:25] {thomcbell} vad 

01[10:26] {Threei}  and to short frikin CAT

01[10:26] {Threei}  and to go long BBRY

[10:26] {thomcbell} i have to run for a few hours guys 

01[10:26] {Threei}  and they all got away in hectic morning trading

[10:26] {Les} got a wyckoff distribution chart in front of me

[10:26] {Will49} 30 minutes is all you need tbell

[10:26] {Will49} to stay healthy

[10:27] {Les} http://stockcharts.com/school/doku.php?st=wyckoff+distribution&id=chart_school:market_analysis:wyckoff2

[10:27] {Les} C imitating distribution to a T

[10:27] {Les} but very quietly...

[10:28] {backman} out EBAY +.87

[10:29] {Les} 3 min bubble busters on banskters. lets see if they bounce back

[10:29] {Will49} wow bman

[10:29] {Les} yeh very nice

[10:30] {backman} ty

[10:30] {dino} ll

01[10:30] {Threei}  wtg

[10:30] {ese} Dallas fed up big

[10:30] {dino} gj back

[10:30] {nemo} tna probably good long above .90 if spy positive

[10:30] {ese} 7.4 vs 3.7 ex

[10:31] {nemo} needs to hold the low

01[10:31] {Threei}  wow... now he blackmails me. if he is not let in the room, "i will try something els"

01[10:31] {Threei}  please do

[10:31] {Les} I like this guy

[10:31] {Les} ballsy

[10:31] {Les} dumb but ballsy

[10:31] {ese} but stupid

[10:31] {Les} reminds me... of me

[10:31] {Les} LVS trying to recover vwap resistance

[10:32] {dino} ll sm s .29 stop .58

[10:32] {jdetente} In vino veritas Les

[10:33] {dino} stop

[10:33] {Les} bit early jd

[10:33] {jdetente} an Irish coffee never hurt anyone

[10:33] {Les} Nemo what is SPY ATH?

[10:34] {Les} 156.76?

[10:34] {Les} we what touched it once on 14th March?

[10:35] {nemo} you mean ATR?

[10:35] {nemo} where you see this les?

[10:35] {Les} all time retard?

[10:35] {cipher} LL s .47

[10:35] {Les} the 2007 high on SPX

[10:35] {Les} sorry should differentiate ETF from index

[10:36] {nemo} that's likely the all time high

[10:36] {Les} I see the newspapers trumpeting it but didn't look at the details

[10:36] {nemo} ebay looks like death

[10:36] {dino} ll sm s .51

[10:37] {nemo} standard operating procedure for you Les

[10:37] {Les} oh so here we go...

[10:37] {Les} u wanna play huh

[10:37] {cipher} EBAY s.09

01[10:37] {Threei} Short Setup: JCP  .95 break

01[10:38] {Threei}  If holds  .05 

01[10:38] {Threei} Short Setup: CAT  .60 break

01[10:38] {Threei}  .c .70

01[10:39] {Threei}  If holds  .70 

[10:40] {nemo} ebay look volume

[10:40] {nemo} short if it drops

[10:42] {ese} rdn stopped .39 -.19

[10:43] {cipher} cov EBAY .96 +.13

[10:43] {Les} couldn't borrow JCP shorting EBAY .98

[10:43] {Les} CAT cover half .51 ty

01[10:44] {Threei}  yw

01[10:44] {Threei}  1:1

[10:44] {Les} cover half ebay .91

[10:45] {Les} first out the door

[10:45] {Les} AIRBORNE YEEEEEHAAAAA

01[10:45] {Threei}  wow

01[10:45] {Threei}  read this

01[10:45] {Threei}  (EU) Eurogroup's Dijsselbloem: Bank restucturing program in Cyprus could be used as a template for the rest of the EMU- Calls on EMU countries with large banking sectors to restructure and bring down the size of the sector in efforts to move the risks from the public sector (mentions Luxembourg, Malta, Slovenia) - Notes that the process would mean that a direct recap of banks by the ESM may not ever need to happen

01[10:46] {Threei}  Bank restucturing program in Cyprus could be used as a template for the rest of the EMU - signal to every single deposit holder that his money is a fair game

[10:46] {Les} yeh thinking that would serve as a precendent

[10:46] {Les} Borrosa likes what he saw in Iceland

[10:46] {Les} but Iceland and EU...

[10:46] {Les} ain't the same thing

01[10:46] {Threei}  CAT 1:2

01[10:46] {Threei}  no

[10:46] {dino} cov ll .94, +.57

[10:47] {ese} thats a wow

01[10:47] {Threei}  and btw, Iceland, even though won court cases against UK and someone else, starts repayiong those seized deposits

01[10:47] {Threei}  whoch is not going to be the case EU-wide

01[10:48] {Threei}  JCP stop to .01

[10:48] {cipher} sial l.91

01[10:48] {Threei}  CAT 1:3 close enough, out

01[10:48] {Threei}  catching the stride

[10:48] {Les} ty

[10:49] {nemo} tana long .10

[10:49] {cipher} MCRS L .00

[10:49] {Will49} out CAT tks Vad

01[10:49] {Threei}  yw

[10:49] {cipher} IBB L.73

01[10:49] {Threei}  leaving all the details and technicalities aside, big picture isd:

[10:50] {Les} lvs flirting with vwap support here

01[10:50] {Threei}  does EU look to you as happy union,

[10:50] {dino} slca drop

[10:50] {nemo} partialing here

01[10:51] {Threei}  and is there a chance such a conflicted institution constantly torn up by so many horizntal and vertical contradictions can survive?

[10:51] {ese} germany wants out

[10:52] {ese} that would be a huge blow

[10:52] {Les} not if the big investment money holding that institution togethor starts jumping ship

[10:52] {nemo} stop to entry

01[10:52] {Threei}  blow?

01[10:52] {Threei}  lol

01[10:52] {Threei}  that's the end, whole thing is hoklding on Germany

[10:52] {nemo} notice tempurpedic up today...easier to hollow out foam mattresses

01[10:52] {Threei}  rofl nemo

[10:52] {Will49} LOL

01[10:52] {Threei}  that's a good one

06[10:53] * nemo takes a bow

[10:53] {dino} lol

[10:54] {Les} LVS maybe ready to give up 55

[10:54] {nemo} Banks pay no interest, so why keep your money there if they're gonna' rob you anyway

[10:55] {Les} cause it was safe and liquid

[10:55] {Will49} "was"

[10:55] {nemo} Vad hit Les

[10:55] {nemo} out tna

[10:55] {Les} :)

01[10:55] {Threei}  what am I, a professional bouncer?

[10:56] {nemo} Les would be a great javelin catcher

06[10:56] * Threei hands nemo 2x4 labeled D I Y

[10:56] {Will49} hahaha

[10:56] {Will49} if we need a bouncer, ONE of you Russians will be it

[10:57] {Will49} dp?

[10:57] {Will49} Vad can watch markets and dp can knee-cap Les

[10:58] {Les} given all u americans are armed to the teeth I don't doubt it

[10:59] {Les} lvs 55 recross?

[10:59] {Les} long?

[10:59] {nemo} no, I was a professional bouncer

[10:59] {dino} better safe than sorry

[10:59] {Will49} nemo, you're to mellow now

[10:59] {Will49} too

[10:59] {nemo} more mellow, until the switch flips

01[10:59] {Threei}  not a very clean setup, les

[11:00] {Les} yeh forgotten it already

01[11:00] {Threei}  breakdown earlier was much better, I missed it

[11:00] {Les} slw making a dirty cup and handle here

[11:00] {Les} grabbed small short lvs straight off vwap think we can go lower her

[11:00] {Les} here

[11:00] {Les} that .20 are vwap

[11:00] {Les} area

[11:01] {Les} SLW

[11:01] {Les} c&h

01[11:01] {Threei}  frikin GLD rinsed

[11:01] {dino} why don't you europeans put your $ with big brokerages? they are privately insured.

01[11:02] {Threei}  it comes to a situation where there is no safe way to keep your money

[11:02] {cipher} VIAB L.23

[11:03] {Les} guess a gun could come in handy at that point

[11:03] {jdetente} it's not your money anymore comrade...it's the people's money

[11:03] {jdetente} sadly

[11:03] {cipher} infi drop

[11:03] {cipher} unfi

01[11:04] {Threei}  it was kind of given that your checking or saving account is yours with no reservations

01[11:05] {Threei}  turns out, not so much

[11:05] {backman} out BBRY +.20

[11:05] {Les} bbry vwap support .10 and pivot support too

01[11:06] {Threei}  crap

01[11:07] {Threei}  I was right about GLD too

01[11:07] {Threei}  that makes 4(!) plays today I was right about and didn't profit from

01[11:07] {Threei}  personal record?

[11:07] {Les} slw cup and handle here?

01[11:07] {Threei}  looks like, yes

[11:07] {cipher} UNFI L .21

[11:08] {dino} unfi sm l .21

01[11:08] {Threei}  1:3 CAT short keeps me in back and consoles somewhat, but still

[11:08] {Les} LVS getting heavy

[11:09] {Les} .20 long SLW?

[11:09] {cipher} CAT l .24

[11:09] {dino} rht sm l .37

[11:10] {Les} l slw .22

[11:10] {ese} L rdn .28

[11:11] {Les} half out .30

01[11:12] {Threei}  good one

[11:13] {nemo} cat might test 85.95 gap fill

[11:14] {Les} nother quarter .39

[11:14] {Les} struggling with pivot and 20 dma resistance here

[11:15] {Les} stop to .30

[11:15] {dino} stop rht .17, -.20

[11:15] {Les} but cup calculation from trigger suggests +.50 is target will hold 100 shares for that

[11:16] {Les} 1:3

[11:16] {Les} sorry +:2

[11:16] {Les} 1:2

[11:16] {jdetente} good trade Les

[11:16] {Les} frikin ritalin making me a chatterbox after weekend break

[11:17] {ese} well done les.......and it's till goin

[11:17] {Will49} good call es

[11:17] {nemo} why don't you skip Mondays then

[11:17] {ese} still

[11:17] {Will49} Les

[11:17] {Les} short new low iwm?

[11:17] {Les} strogn support for SPY here

01[11:18] {Threei} Short Setup: LVS  .80 break hl

01[11:18] {Threei}  If holds  .90 

01[11:19] {Threei}  1:1

[11:19] {nemo} think market realized Cypress the canary inthe coal mine

[11:19] {ese} out rdn .22 -.06

01[11:20] {Threei}  Pyrrhus victory

01[11:20] {Threei}  sdtill think they are smart and rational ese?

[11:21] {ese} huh

01[11:21] {Threei}  they are like a bad fireman... jumping from one fire to another trying to put out new flames

[11:22] {ese} ya.......it ain't helping my cause today.........

[11:23] {Les} and destroy peoples' houses in the process to try to create firebreak. making lot of little people angry

01[11:23] {Threei}  to their justiffication... it's hard to manage present not knowing anything about past, or completely disregarding it

[11:23] {cipher} tna l .95

01[11:23] {Threei}  Those who don't know history...

[11:23] {Les} are doomed...

01[11:24] {Threei} Short Setup: SLW  .45 break

01[11:24] {Threei}  If holds  .50 

01[11:24] {Threei}  aggresive for .40

[11:24] {Les} lol last exit .47 slw

[11:25] {cipher} out tna .25 +.30

[11:27] {cipher} EBAY L .31

[11:28] {dino} lulu sm l .01

[11:29] {dino} rht sm l .10

01[11:33] {Threei}  let's do it SLW

01[11:33] {Threei}  nice and clean double top

01[11:34] {Threei}  al, you missed 1:3 CAT short...

01[11:34] {Threei}  that's of course is nothing comparing to everything reshi missed... but still :)

[11:34] {dino} ebay sm l .35

[11:35] {Les} cover half ty slw

[11:35] {Les} up she goes, down she goes

01[11:36] {Threei}  1:1

01[11:36] {Threei}  yw

[11:36] {Les} this much more fun than reading forecasts of what gold and silver 'should' be doing

01[11:36] {Threei}  very clear setup

01[11:36] {Threei}  heh

01[11:37] {Threei}  academics who never made a dime in the market

01[11:37] {Threei}  yet so eager to explain why market didn't do what they predicted

01[11:37] {Threei}  and of course always blaming damn manipulators

[11:37] {Les} all of em. The gurus. The hard money crowd. The anti-establishment mob

[11:37] {Les} dumped all of them from reading list

01[11:38] {Threei}  it's always the same song

01[11:38] {Threei}  1. Here is what will happen.

[11:38] {cipher} EBAY target .60

01[11:39] {Threei}  2. Uh, not happened yet, but it will - meanwhile, this is a buying opportunity

01[11:39] {Threei}  1:2 SLW

01[11:39] {Threei}  3. Uh, they manipulated price lower, buy more!!

[11:39] {dino} out unfi +.12

01[11:40] {Threei}  4. Even lower... they are not getting my shares cheap, weak hands are getting shaken out

01[11:40] {Threei}  5. Be strong... be strong...

01[11:40] {Threei}  6. Damn manioulators, they ruined me

01[11:41] {Threei}  no matter that it all happened zillion times before, they don't see that they follow that same suicidal pattern

01[11:41] {Threei}  no matter that manipulators are simply the part of equation

[11:41] {Les} yeh that was missing element in swing trading of mine in 2011

[11:41] {Les} easy to say 'going up'

[11:41] {Les} but as soon as it reversed....

[11:42] {Les} plan fell apart

[11:42] {Les} buying to a top was fun and new experience

[11:42] {Les} the hangover was a bitch

[11:43] {cipher} out CAT .34 +.10

[11:46] {Les} gotta be somewhere back after lunch

[11:46] {nemo} no hurry les

[11:47] {Les} bisous

[11:48] {Will49} out SLW tks Vad

01[11:48] {Threei}  yw

[11:49] {Will49} everybody's gotta be somewhere Las

[11:49] {Will49} Les

[11:50] {Will49} joke about guy coming home middle of day and smells cigar smoke

[11:50] {Will49} runs up to bedroom

[11:50] {Will49} wife is in bed alone

[11:50] {Will49} rips open closet

[11:51] {Will49} there stands a naked skinny  guy

[11:51] {Will49} husband...what the hell are you doing here

[11:51] {Will49} guy...everbody's gotta be someplace

01[11:51] {Threei}  lol

01[11:52] {Threei}  http://photography.realitytrader.com/2013/03/dreamy-beaches-2.html

[11:54] {Will49} nice Vad..can hardly wait to go back

[12:07] {backman} L EBAY .51

[12:10] {backman} -.10

[12:13] {_littleal} Which island did you take those picts?

01[12:13] {Threei}  Big Island

01[12:14] {Threei}  my favorite of all

01[12:14] {Threei}  Will will disagree, he will tell you Maui is better

[12:14] {_littleal} Nice! Going to Kauai in July

01[12:14] {Threei}  but I will disagree with Will, and will insist on Big Island being the best

01[12:15] {Threei}  Kauai is fantastic

[12:16] {_littleal} Went to the Big Island in 1993 and loved it.

01[12:16] {Threei}  it changed greastly since then

01[12:16] {Threei}  greatly

[12:17] {cipher} MDVN L .22

[12:17] {_littleal} 20 years is a long time so I am sure it has.

01[12:17] {Threei}  especially in such active place

[12:17] {Will49} never been to Big Island but hear it's great!

01[12:17] {Threei}  have you driven the Chain of Craters road, fropm the top of volcano to the ocean level?

[12:17] {Will49} Maui is only island i've visited

01[12:18] {Threei}  if yes, it became shorter since then - lava crossed it

[12:19] {_littleal} Did 1/2 of that road.

01[12:19] {Threei}  the feeling when you climb the lava towering about 20 ft, right above the spot where you used to drive in your last visit...

[12:19] {Will49} Maui's number one asset? A rent-free home for us as long as we like

01[12:19] {Threei}  hard ti beat :)

[12:19] {Will49} oh yeah

01[12:20] {Threei}  if you move up to the whole photoblog, http://photography.realitytrader.com/, and scroll through a few months posts you'll see more beaches, and volcano

[12:20] {Will49} On the downside, we've seen just about everything on Maui and would like to go to Big Island

01[12:20] {Threei}  and other places

[12:20] {Will49} as soon as I'm a consistently profitable trader:)

[12:20] {dino} lulu to .35, brb

01[12:21] {Threei} Short Setup: EBAY  .30 break hl

[12:21] {_littleal} I liked the Big Island better than Maui but that is my opinion.

01[12:21] {Threei}  If holds  .40 

[12:22] {cipher} SRCL L.08

[12:22] {cipher} MDVN stopped .27 +.05

01[12:22] {Threei}  I am with you... Maui is spectacular, no argument, but just a tad too manicured

01[12:22] {Threei}  Big Island is rough, wild and keeps you on your toes

[12:24] {cipher} SRCL stopped .12 +.04

01[12:25] {Threei}  you'll see that road crossed by lava at the end of this one: http://photography.realitytrader.com/2013/01/hawaii-active-volcano-3.html

[12:27] {_littleal} Did you see the lava tubes and the fern grotto?

01[12:28] {Threei}  yup

[12:29] {dino} out lulu .51, +.50

[12:30] {Will49} nice

[12:30] {dino} ty

01[12:31] {Threei}  look at two more al: http://photography.realitytrader.com/2013/01/hawaii-active-volcano.html and http://photography.realitytrader.com/2013/01/hawaii-active-volcano-2.html

[12:32] {ese} gotta go all.....first day back from spring break.

[12:34] {jdetente} ebay going for the rinse...not delighteed

01[12:35] {Threei}  yeah, by 1 cent

01[12:35] {Threei}  sheesh

[12:36] {dino} out rht .40, +.30

01[12:53] {Threei}  (CY) All Cyprus banks - except for Bank of Cyprus and Popular - are said to be opening for business on Tuesday, March 26th - financial press- Bank of Cyprus and Popular are said to be reopening on Thursday, March 28th.

01[12:53] {Threei}  oh, that's why ese left early...

[13:00] {dino} ebay stop -.12

[13:04] {cipher} CELG L .51

01[13:09] {Threei}  EBAY rinse

01[13:09] {Threei}  shrug

01[13:09] {Threei}  one of those days when P/L column is in black but there is great feeling of disatisfaction

[13:10] {jdetente} have to not get emotional about missed opportunities

01[13:11] {Threei}  emotional no

01[13:11] {Threei}  dissatisfied, yes

01[13:11] {Threei}  is dissatisfaction an emotion?

[13:11] {nemo} like women, always another one around the corner

[13:11] {jdetente} that is an emotion as well...that's all I meant

[13:12] {jdetente} since it is a "feeling" of dissatisfaction

01[13:12] {Threei}  hmmm

[13:13] {jdetente} that's my story and I'm stickin' to it! hehe

01[13:13] {Threei}  that's fine, I am just trying to figure out how I manage to be dissatisfied yet unemotional

[13:14] {jdetente} this is going to get quite existential 

[13:15] {Will49} don't mess with the Taost trader

01[13:16] {Threei}  I can share with you nemo's recipe for staying unemotional

[13:16] {jdetente} two parts whiskey and one part water?

01[13:16] {Threei}  "Never go to beg angry. Stay up and plot your revenge."

[13:17] {jdetente} lol

[13:17] {dino} lulu sm l .98

[13:17] {dino} unfi sm l .13

[13:17] {cipher} TNA L .59

01[13:19] {Threei}  and, jd... what is water doing in that recipe of yours???

01[13:20] {Threei}  beg = bed, btw

[13:20] {backman} beg to get to bed?

[13:21] {cipher} IBM L .25

[13:21] {jdetente} I know it is kind of a faux pas

[13:21] {jdetente} water in your whiskey

01[13:21] {Threei}  seriously man

01[13:21] {Threei}  what were you thinking

01[13:22] {Threei}  you face months and months of winning back nemo's respect

[13:22] {nemo} nah, he might as well leave

[13:22] {jdetente} well remember I suggested that was his recipe...

[13:22] {jdetente} hehe

01[13:22] {Threei}  and I have to admit, I slant at you askance as well

[13:23] {cipher} out TNA .89 +.30

[13:23] {cipher} out IBM .50 +.25

[13:23] {dino} gj

[13:23] {cipher} ty

01[13:23] {Threei}  two side by side good ones

[13:25] {jdetente} I bought a terrible irish whiskey last week...Irish Manor. Thought I'd take a chance...big mistake.

[13:25] {jdetente} It will used as my cold medicine now. 

01[13:25] {Threei}  lol

01[13:25] {Threei}  look closer at this bottle: http://goo.gl/W5ffk

[13:26] {cipher} TNA reload .83

[13:26] {jdetente} Hennessy right?

01[13:26] {Threei}  as far as evening on the hotel balcony goes, can't go wrong

[13:26] {cipher} out TNA .13 +.30

[13:27] {dino} good series cipher

[13:28] {cipher} tcbi l .99

01[13:28] {Threei} Short Setup: SLW  .30 break

01[13:28] {Threei}  If holds  .40 

[13:31] {dino} out unfi .43, +.30

[13:33] {cipher} TCBI stopped .01 +.02

[13:36] {dino} vmw

01[13:38] {Threei} Short Setup: BBRY  .35 break

01[13:38] {Threei}  If holds  .45 

[13:38] {jdetente} no shares with my broker

[13:39] {dino} out lulu flat

[13:42] {cipher} missed vmw damn

[13:44] {cipher} good call dino

[13:44] {cipher} up .50

[13:44] {dino} me too

[13:44] {cipher} had a target buy at .50 :(

[13:47] {dino} we blew that one, i was thinking 75.30

[13:47] {dino} bounced right on s3, usually dip below

[13:50] {cipher} yep trade of the day slipped by

01[13:51] {Threei}  nice SLW slide with SPY upmove

01[13:51] {Threei}  hedge

[13:51] {dino} that and lulu, stop flat and runs .50

[13:51] {nemo} we close green today and run higher the rest of the week

[13:52] {dino} end of quarter, so perhaps

[13:52] {nemo} they need to get the Mutual fund money into the market

[13:56] {Les} IWM vwap here

[13:57] {backman} 1:1

01[13:57] {Threei}  SLW 1:1

01[13:57] {Threei}  BBRY us gathering strength to weaken

01[13:58] {Threei}  us = is

[14:02] {nemo} unh might be long here above .06

01[14:02] {Threei}  it takes a lot of strength to show your weakness publicky, you know

[14:05] {jdetente} lol

[14:10] {cipher} HIBB L .21

[14:11] {cipher} hibb may get squeezed

[14:17] {thomcbell} any news on hfc?

[14:17] {thomcbell} if not may look for a double bottom or other entry 

01[14:17] {Threei}  not since March 19

[14:21] {cipher} IBM L .25

[14:21] {cipher} out .39

[14:24] {thomcbell} was that a trigger there on bbry at 14.29 break Sensai?

01[14:24] {Threei}  ?

01[14:24] {Threei}  we had one at .35 break

[14:25] {dptl} jcp .20 short?

01[14:25] {Threei}  13:38] {Threei} Short Setup: BBRY .35 break

01[14:25] {Threei}  [13:38] {Threei} If holds .45

[14:25] {thomcbell} ok gotcha - it looks like a whole lot of nothing on bbry 

[14:25] {Will49} just powerful wishful thinking on my part

[14:26] {Will49} i'll try to move it again

01[14:26] {Threei}  JCP, not sure yet... could be on the last hour

[14:28] {backman} would you trail BBRY to BE?

[14:28] {dino} boil, ugaz, ung drop

01[14:29] {Threei}  b/e, no... .41, yes

[14:29] {nemo} finnies spy and iwm coming into trend line, 

[14:30] {backman} thanx

[14:30] {nemo} nanananananananananana BACKMAN!!!

[14:30] {nemo} dude..you gotta change your nick

[14:30] {backman} ROBIN!!!!!....keep bobbing

[14:31] {nemo} oh, they were gay?!

[14:31] {jdetente} oh boy lol

[14:31] {backman} still r

[14:32] {jdetente} http://img607.imageshack.us/img607/9383/tagd.jpg

[14:43] {cipher} IBM L .96

[14:48] {backman} I got my first "Nigerian oil" scam email in years....setting is now Austrailia

[14:48] {nemo} http://bit.ly/10djAXF

01[14:48] {Threei}  I would feel very much neglected if I were you

01[14:48] {Threei}  2-3 a week here

[14:49] {cipher} out IBM .00 +.04

[14:50] {dino} tsla spike

[14:51] {cipher} TSLA S .94

[14:52] {_littleal} Nemo where do I apply for a job like that?

[14:54] {cipher} cov TSLA .84 +.10

[14:55] {backman} thanx, all....early dinner plans...good luck with the rest of it

01[14:55] {Threei}  take care backman

[14:55] {dino} cya bman

[14:55] {Will49} be good bman

[15:00] {dino} tsla again

[15:02] {Les} GDX looks like weakening

[15:02] {Les} short .70 holding .75?

01[15:02] {Threei}  [TSLA] CEO Musk indicates on twitter that there will be an 'exciting announcement' on Thursday- Musk comments he is "putting his money where his mouth is"

[15:03] {Les} LoL must be true. wait, let me buy some TSLA...

01[15:03] {Threei}  can't tell GDX

[15:03] {_littleal} Who would buy a Tesla car?

[15:05] {Will49} would i need to trade in my Toyota Yaris?

01[15:07] {Threei}  it's a real car? I thought it was a promotional toy by Toyota

[15:07] {Les} nah you can donate that as a highway lane divider will

[15:08] {Will49} :)

[15:11] {dino} unfi sm l .95

[15:13] {dino} mgln drop

01[15:14] {Threei} Short Setup: JPM  .40 break

01[15:14] {Threei}  If holds  .50 

[15:18] {dino} mgln, contract loss

01[15:24] {Threei}  1:1

[15:24] {Les} ty sir

01[15:25] {Threei}  yw

[15:27] {dino} out unfi .08, +.13

[15:27] {dino} back in 15 min.

01[15:29] {Threei} Long Setup:  GDX  .80 break

[15:43] {nemo} looks like they want the weekly pivots

01[15:45] {Threei}  Invalidated  

[15:56] {nemo} SPy at weekl, IWM almost there, and finnies just a tad behind

01[15:57] {Threei}  OK guys thank you all

01[15:57] {Threei}  have a great evening

[15:57] {Les} cheers

[15:57] {Will49} have a good night everyone

01[15:57] {Threei}  btw, remember this is a short week

[15:57] {dino} oak drop

01[15:57] {Threei}  see you tomorrow

[16:00] {dino} gn all

Nemo's Findings week of March 24, 2013

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

Well, turns out Cypress turned into a speedbump for the market this week, or was it just an excuse to take profits.  Now, let's see if it starts a larger sinkhole. Having said that none of the major indexes look like they're doing anything but consolidating.  Only the SPY and the Transports have even touched the 20 day moving average.  The Qs did sink almost to the 50 day, but back in the  normal days of the market this is the traditionally weak time of the year for tech.  Add to that AAPL is 13% of the index and the Qs relative underperformance is understandable.  

I'm still of the opinion, unless there is some domino over the weekend, we might see new highs this week to get the 401k money rolling in at the end of the month.  Next week, well, that's another story.  Again, earnings start around April 20th, but don't really get going for another week after that.

The week that was: 

What is new is that this is the first week in a while that the indices did not finish above their Weekly Pivots.  You could potentially argue SPY did because it went ex-div. last Friday (right, Les?), but the finnies and IWM have no such excuse.  That's my story, and I'm sticking with it.

As we can see on SPY, that weekly pivot served as the roof bounded by the Quarterly R2 (with some help from the Monthly R1)  which has served as support going back to the 5th.  For the finnies the WS1 served as an oscillation axis as it did for the SPY also.  The VXX  is showing no signs of fear in the market, less than a buck away from it's all time lows.  

Anyway....the week that is:

They look like bull flags to me on the major indices.  Oh....see where all the Russian Oligarchs seemed to already have gotten their money out of Cypress? Surprise, surprise-and the relatively powerless and little people will take the hit.  Slightly philosophical perhaps, but money and power is, well, money and power!  The top of the pyramid rules, and always will.   Fairness and social equity would be nice, but it tends to be a pipe-dream, at least over the long-term.  The pendulum swings a bit here and there in history, but as a rule "plu ca change, plu c'est le meme chose". 

Market Week Wrap-up

TradeTheNews.com  Weekly Market Update: Cyprus Reanimates Eurozone Crisis


- Events in Cyprus this week called into question the emerging consensus that the Eurozone crisis had been brought under control. Despite the awful economic data coming out of Europe and the complicated aftermath of the Italian elections, there had been a feeling that the worst was over and that the peripheral nations were making progress toward normalization. But after the Troika insisted last weekend that Cyprus accept a bail-in levy on bank deposits and the Cyprus parliament rejected the deal, there was a strong sense of deja vu in markets as analysts started discussing the chances of a disorderly bankruptcy. Outside of Cyprus, the data in Europe did not bode well: French, German and Eurozone preliminary manufacturing PMI data declined, in France's case to its worst level in nearly four years. In the UK, Chancellor Osborne unveiled the new 2013 UK budget, which he said would go further on monetary activism and fiscal reform (translation: more austerity). In the US, the March Philly Fed survey roared back to positive after February's big negative reading and the preliminary Markit PMI manufacturing number was pretty good. The FOMC decision saw no surprises, and in his post-decision press conference Chairman Bernanke stressed that the Fed will make adjustments to monthly asset purchases as needed, but not frequently and only in response to meaningful changes in conditions. Despite the chaos in Europe, US markets were close to flat on the week: the DJIA fell less than 0.1%, the S&P 500 was off 0.2% and the Nasdaq dipped 0.1%.

- The Cyprus situation is not exactly new: the small island nation had been relying on a €2.5B loan from Russia to cover its budget deficit since January 2012 and has been negotiating with the Troika for a bailout of its troubled banking system since last July. After on-again, off-again talks, Cyprus and the Troika reached a deal for a €10B bailout last Saturday, including a one-off bank deposit levy of 6.7% for deposits up to €100K and 9.9% for higher deposits. The disclosure of this condition ignited a political firestorm and pushed the parliament to reject the deal in a vote on Tuesday. Cyprus sought a better bailout package from Russia, including loan extensions, possibly in exchange for rights to natural gas assets, but the Russians refused. The ECB will cancel emergency ELA liquidity assistance on Monday if there is no deal, which would likely precipitate a Cyprus sovereign bankruptcy and the nation's exit from the euro zone.

- As of writing on Friday afternoon, negotiations have taken a turn for the better, despite reports that the Troika hiked Cyprus's contribution to the €10B bank bailout to €6.7B from €5.8B prior and demanded some form of bank levy. Most reports indicate that accounts of €100K or less will be protected from the levy. Unofficial statements from sources indicate a deal can be reached over the weekend, however we have heard this sort of talk before. Damage to the other peripheral nations has been limited so far: after rising above 5% earlier in the week, the yield on the Spanish government 10-year bond fell to 4.83% on Friday, while Italian 10-year yields dropped from a high of 4.63% to around 4.50% on Friday.

- Fedex, Oracle and Nike disclosed notable quarterly earnings reports this week. Shares of Fedex have lost about 8% since the firm missed Q3 earnings expectations and cut its FY13 guidance. Executives blamed the poor showing on customers shifting from air express to slower but less expensive modes of international shipping. Excess capacity overseas pressured margins. Oracle missed consensus estimates by a hair in its Q3 report and offered poor guidance for Q4. The firm's key new software sales slipped in the quarter. On the positive side, shares of Nike are up nearly 12% since the firm saw better profits and better margins in its Q3. Margins have been sliding lower for approximately two years and this was the first quarter of improvement.

- Declines in the euro were less bad than might have been expected given the developments in Cyprus. The biggest decline in EUR/USD came over last weekend, as EUR/USD dropped from 1.3075 to around 1.2880 early on Monday. On Tuesday EUR/USD dipped below its 200-day moving average around 1.2871 to test briefly below 1.2850, a level last seen in November 2012.

- The yen saw some profit taking after weeks of speculation about which policies the new BOJ Governor Kuroda would implement. Kuroda took the helm on Thursday and said all the right things at his first press conference. However, his remarks did not offer the market anything it wasn't already expecting. After trading as high as 96.75 last week, USD/JPY was trading below 94.50 on Friday.

- UK Chancellor Osborne presented the government's 2013 budget to parliament on Wednesday. GBP/USD saw plenty of volatility as the details came out, trading as low as 1.5050 and as high as 1.5180 on Wednesday morning. Osborne warned that the budget would go further on monetary activism and fiscal reform and also presented the updated BoE remit that confirmed the new 2% CPI target. GBP/USD pushed out to one-month highs by the week's end, easily shrugging off Fitch placing the UK's AAA rating on watch negative.


TradeTheNews

March 22 2013

When everyone buys for an expected event, and then event comes... Notice how it was discussed and planned two days ago:

Very fine day overall, ending the week on a nicely profitable note.

Session Time: Fri Mar 22 00:00:00 2013
[09:03] {dptl} gm
01[09:03] {Threei}  dp :)
[09:08] {thomcbell} hope all did well yest
01[09:08] {Threei}  we did
[09:08] {thomcbell} excellent
[09:16] {Les} afternoon
01[09:17] {Threei}  les :)
[09:17] {Les} back with my demons and all
[09:17] {Les} and lots of little post it notes stuck everywhere
01[09:17] {Threei}  can you leave them at the door?
[09:17] {Les} the only thing stopping me from being a great trader. can do
[09:18] {cipher} gm
01[09:18] {Threei}  cipher :)
[09:19] {jdetente} good morning
[09:19] {ese} gm
01[09:19] {Threei}  jd, ese :)
[09:19] {Will49} gm
[09:20] {ese} will vad jd C
[09:20] {ese} thom les
01[09:20] {Threei}  will :)
[09:20] {Will49} hey ese
[09:20] {Will49} Vad
[09:21] {Will49} tom and les too
[09:21] {jdetente} everyone is so friendly this morning and of course I notice nemo isn't here...hmmm
[09:21] {Will49} :)
[09:21] {Will49} mroning jd
[09:21] {Will49} morning
[09:22] {jdetente} top o the morning will
[09:22] {thomcbell} yes gm all
[09:24] {ese} who is it on this board that lives in Nashville or Memphis..........I remember we had a discussion about that a few months back
01[09:24] {Threei}  acording to this, next crisis is Slovenia:
01[09:24] {Threei}  - ECB's Kranjec: Slovenia can still avoid bailout, very sure they will not get into situation like Cyprus
[09:25] {nemo} patel?
[09:25] {ese} I think your right nemo
[09:25] {nemo} that comforts me greatly
[09:26] {ese} my high school R&B band just bought our tickets for Memphis yesterday
[09:26] {Les} that be redneck territory, is it not?
[09:26] {nemo} rednecks are everywhere
[09:27] {ese} there  up here in Calgary
[09:27] {ese} Alberta
[09:27] {nemo} there in Switzerland too
[09:27] {ese} it's blues territory more than red necks
[09:27] {Will49} Blues play in St Louis
[09:29] {ese} the blues play everywhere.......big blues community here in victoria also
[09:29] {Will49} :)
[09:29] {jdetente} will's talking hockey
[09:30] {jdetente} ha
01[09:32] {Threei} Long Setup:  JPM  .55 break
01[09:33] {Threei}  If holds  .50
[09:33] {cipher} ctsh l.94
01[09:35] {Threei}  meh
[09:36] {cipher} BIDU L .53
[09:39] {ese} L anac .54
01[09:39] {Threei}  BlackBerry Credit Suisse reiterates Underweight rating, price target $10- Firm notes recent enthusiasm for Blackberrys new BB10 devices, but they see limited scope for traction in the hyper-competitive smartphone market. - Firm believes that Blackberrys major business model change in services will result a significant decline this high margin revenue stream, driving operating losses and potential cash burn.
01[09:40] {Threei}  (CY) Eurogroup's Dijsselbloem: Europe is still willing to help Cyprus but it is up to Cyprus to make the first step; convinced Cyprus will not leave the eurozone
[09:40] {nemo} kick 'em out of the playpen
01[09:40] {Threei}  JPM rinse
01[09:41] {Threei} Long Setup:  LVS  .90 break hl
01[09:41] {Threei}  If holds  .80
[09:42] {cipher} pcyc l.05
01[09:43] {Threei}  Invalidated
[09:43] {Les} JPM .50 recross?
[09:44] {Les} forget it
01[09:44] {Threei} Short Setup: C  .15 break
[09:45] {ese} OUTTTT!!!!!!! anac .87 +.33
[09:46] {backman} nicely done
01[09:46] {Threei}  stop us .21
[09:46] {ese} tks
01[09:47] {Threei}  target 1:2
01[09:48] {Threei}  1:1. half out
01[09:51] {Threei}  changing target to 1:3... 45 is too good support, should drop more if loses it
[09:51] {Les} s1 pivot support .81
01[09:51] {Threei}  stop for the balance is .16 of course
01[09:52] {Threei}  "obviously"
01[09:52] {Threei}  (slanting at tbell)
[09:52] {thomcbell} YES
[09:54] {cipher} WDC L .40
[09:55] {cipher} out .60 +.20
[09:55] {Les} GS about too take leg down
01[09:56] {Threei}  good
01[09:56] {Threei}  C is waiting for guidance from high above
01[09:57] {Threei}  important support is like magnet... JPM bounces, SPY bounces, C is drawn to this 45 line as if it was hypnotized
[09:58] {thomcbell} lvs wicked moves
01[09:58] {Threei}  a bit too listless
[09:59] {Les} but always falling back under vwap tbell
[09:59] {Les} could be distribution
[09:59] {Les} .90 vwap
[10:00] {Les} GS back to vwap
[10:00] {Les} wow
01[10:01] {Threei}  (IT) Italy President Napolitano invites Bersani to conference at 16:00 GMT -
01[10:01] {Threei}  sounds as they resolved this crisis
[10:02] {Les} italy?
01[10:02] {Threei}  yeah
[10:02] {Les} u mean the elections?
01[10:02] {Threei}  govt forming
01[10:02] {Threei}  (EU) ECB to stop accepting Govt guaranteed bank bonds as collateral effective March 1, 2015
[10:02] {cipher} pcyc l.00
01[10:02] {Threei}  huh... look what just popped on my FB... familiar faces: http://goo.gl/OD7Te
01[10:03] {Threei}  dp, don't look
01[10:03] {Threei}  who doesn't knowm, it's ese band
[10:04] {Will49} the best part of it anyway
[10:04] {Will49} jk
01[10:04] {Threei}  right
[10:05] {ese} am not on facebook.....can't view it
[10:05] {Les} don't think i've liked your page vad, not easy to find
01[10:05] {Threei}  1:2 C
[10:05] {backman} https://www.facebook.com/vadym.graifer?fref=ts
01[10:05] {Threei}  can you see this, ese: http://www.facebook.com/TheMidnightsRandB
[10:05] {Les} no
01[10:05] {Threei}  it's your band, and my photo of it
[10:05] {Les} might be browser I am using
[10:06] {Les} remember this from before when u linked to something
[10:06] {ese} who am I looking for
01[10:06] {Threei}  stop to .06 for the last 1/4
01[10:07] {Threei}  les... https://www.facebook.com/vadym.graifer
01[10:07] {Threei}  better, www.facebook.com/vadym.graifer
[10:09] {Les} yeh your feeds come through no problem, but linking always is
01[10:10] {Threei}  ok, out last piece
[10:10] {Will49} me too tks Vad
[10:10] {backman} ORCL back toward low
01[10:11] {Threei}  tries to double-bottom
01[10:12] {Threei} Short Setup: BBRY  .65 break
01[10:12] {Threei}  If holds  .75
[10:14] {ese} hey vad......no can't see that
01[10:15] {Threei}  Invalidated
01[10:15] {Threei}  well, it's a facebook page of your band, using my photo of it in Butchart as a cover
[10:16] {ese} ahh  terrific.....thank you very much
01[10:16] {Threei} Short Setup: ORCL  32 break
01[10:16] {Threei}  If holds  .10
[10:19] {Les} BBRY short here vad?
[10:19] {Les} .75?
01[10:20] {Threei}  no
01[10:20] {Threei}  pullback on decreasing volume
01[10:20] {Threei}  what kind of setup is that
[10:20] {Les} k
[10:20] {Les} breakout
[10:20] {Les} pullback entry
[10:20] {Les} long
[10:23] {cipher} lulu l .40
01[10:24] {Threei}  ORCL is valid still
[10:25] {cipher} infi l .12
01[10:25] {Threei}  market loses steam
[10:26] {backman} any setup in EBAY at 10:05--10:10?
01[10:27] {Threei}  not too pronounced one
01[10:27] {Threei}  not very compelling
[10:27] {backman} thnx
01[10:29] {Threei} Short Setup: JPM  .80 break
01[10:29] {Threei}  If holds  .85
01[10:31] {Threei}  1:1
01[10:32] {Threei}  quick, 111 Trades readers, what setup this was?
[10:32] {Les} good question
[10:32] {thomcbell} kangaroo
[10:32] {Les} I recognise the reversal signal
01[10:32] {Threei}  A+
[10:32] {Les} dt
01[10:32] {Threei}  tbell
[10:32] {Les} kangaroo?
[10:33] {thomcbell} rimm big volume
01[10:33] {Threei}  kangaroo tail reversal
[10:33] {Les} will have to look that one up
01[10:33] {Threei}  BBRY rug pull
01[10:34] {Threei}  looks news-driven
[10:34] {Les} vwap is .55
[10:34] {thomcbell} was it a fat finger on spy though
01[10:34] {Threei}  CNBC was discussing it
01[10:35] {Threei}  I didn't listen really, maybve they said something
01[10:35] {Threei}  (CY) Cyprus parliament's Neofytou: Hopeful Govt can pass the bills tonight, cautiously optimistic- Sees having a deal within the next few hours
[10:36] {Les} took last quarter .66 ty jpm
[10:36] {Les} ORCL
[10:39] {jdetente} Ravi lol
01[10:40] {Threei}  yessss!!!
01[10:40] {Threei}  I was wondering... and getting kind of sad
[10:40] {Les} Is ravi of US origins?
01[10:40] {Threei}  ORCL is valid again
[10:40] {Will49} we should all chip in and buy him a month of the room :)
01[10:41] {Threei}  sorry, I have to keep privacy of others... even when they try to break in :)
[10:43] {Les} sure
[10:43] {Les} dumb question
[10:43] {thomcbell} vad there was a pretty qjuick cup and handle failure break on bbry at 10:33 - that was the only setup
[10:43] {thomcbell} that triggered
[10:43] {Les} 10 cent stop or .05?
01[10:43] {Threei}  ORCK? .10
[10:43] {Les} k
01[10:44] {Threei}  tbell... formally yes, but in reality it happened so suddenly, I doubt it was playable
01[10:45] {Threei}  1:1 ORCL
[10:45] {thomcbell} yes you had to be seriously reaching for any entyry
01[10:45] {Threei}  I am pretty sure it was not a technical move
[10:46] {thomcbell} deck 49.50 long break if holding 49.40
[10:49] {thomcbell} deck 1:2
[10:49] {thomcbell} barely got any shares
[10:49] {thomcbell} but thee
[10:50] {thomcbell} there
01[10:50] {Threei}  out JPM in full
01[10:51] {Threei}  1:2
01[10:51] {Threei}  ORCL 1:2
01[10:51] {Threei}  can I go home?
[10:51] {jdetente} covered a quarter of orcl at .81
[10:52] {Will49} nice calls Vad
[10:52] {jdetente} touched .80
[10:57] {Les} done .71 ty
[10:58] {thomcbell} bbry wants pivot 16.20
01[11:00] {Threei}  yw
[11:03] {Les} lvs .00 break?
[11:03] {Les} forget it
[11:06] {backman} anyone recommend backup broker when Laser is down?
[11:07] {Les} broker or the platform?
[11:07] {backman} when platform is down...want backup broker
01[11:08] {Threei}  I don't think it's worth it
[11:08] {backman} ?
01[11:08] {Threei}  it happens very rarely, backup broker will be needed for a brief period of time that occurs once what, a year? But software and exchange fees will be there all the time
[11:09] {backman} ahh...OK..thnx
01[11:09] {Threei}  you will pay for the privilege to trade in those 30 min when something happens
[11:09] {Les} would your laser and my fusion platforms be using same server Vad? Or do the providers of these platforms have their own seperate servers?
01[11:09] {Threei}  and will spend 25 of them getting used to a platform you dopn't have every day's familiarity with
[11:10] {thomcbell} bbry 16.39 break long for a scalp
01[11:10] {Threei}  separate, les
[11:10] {Les} so it's nto the broker providing the data feed
[11:10] {thomcbell} vwap target
01[11:10] {Threei}  no, broker proived access to a platrofn, platform has its own feed
[11:11] {Les} ok
01[11:11] {Threei}  ultimtaely they all come to an exchange,
01[11:11] {Threei}  if exchange has problem, all of them will
01[11:11] {Threei}  that's why you spmetimes see situation like "ARCA is down nationwide"
01[11:12] {Threei}  if a feed is down at the platform derver level, then platform will be down for all brokers
01[11:13] {Threei}  etc
01[11:13] {Threei}  to make matters even more confusing, there are routes,
01[11:13] {Threei}  which means problem might be specific to some geogra[hic area
[11:14] {Les} so like data highways to specific areas?
01[11:14] {Threei}  for instance power outages at internet routes
[11:14] {Les} oh ok
01[11:14] {Threei}  but heck... how often does it all happen
[11:14] {Les} in Switzerland.... never
[11:15] {Les} buried those cables long time ago
01[11:15] {Threei}  not on our lovely island :)
[11:15] {Les} remember that eyesore from Oz
01[11:15] {Threei}  power cables are up in the air
[11:16] {Les} remember frequent power outages during hot stormy summers
01[11:16] {Threei}  wind storms in foresty areas lead to many of them being torn
[11:16] {Les} can't remember if had an outage in 13 years here
[11:16] {Les} maybe once
[11:16] {Les} one reason switzerland is expensive to live in
01[11:16] {Threei}  burying them costs huge money, so they prefer to fix them after each storm
[11:16] {Les} yeh we've got demographic density here
[11:17] {Les} and a postcard tourist image to protect...
01[11:17] {Threei}  (CY) Cyprus parliament said to have had requested changes to the bank bills, but ECB was not in favor of the adjustments - financial press- The report also notes that the Cyprus govt is considering presenting Parilament with a revised deposit levy proposal.
01[11:18] {Threei}  we don't have much density... I can drive about 25 min to Will's place, and not even meet ese on my way
[11:18] {ese} hate mrkt days like today..............ultimate test for how you can handle boredom
[11:18] {Les} yeh seen the Google images of yer area
[11:18] {Les} no hiding from big brother
01[11:19] {Threei}  and it's an island... try to drive across Canada, some areas are almost total wilderness for hundreds of miles
[11:19] {Les} will do it before I get to old
[11:19] {Les} Annie needs the museums and art
[11:19] {Les} I need space
[11:19] {Les} canada good fit
[11:20] {Les} and not so bloody hot as australia
01[11:20] {Threei}  well, it's bloody cold instead, except on our island, lol
[11:21] {Les} UPS short break of .90 holding .00?
[11:21] {Les} or 2 way?
01[11:22] {Threei}  I'd take long and skipped short
[11:22] {Les} k
[11:22] {Les} 20 day moving average is 84 resistance
01[11:22] {Threei}  unless Cyprus says Bye-Bye, Mein Lieber Herr, sending market down in a hurry
[11:25] {ese} you thinkin of moving here Les?
01[11:27] {Threei}  he can't... nemo said he will make it his life purpose to make sure North America remains Les-less
[11:27] {Les} with a trader's salary would like to see a bit more of the world before all we all go down the crapola
01[11:27] {Threei}  UPS 1:1
[11:27] {Les} ty sir
01[11:27] {Threei}  sure thing
[11:29] {thomcbell} bbry lod
[11:31] {thomcbell} well vad they certainly didnt make the short entry easy
01[11:31] {Threei}  no
01[11:31] {Threei}  and here is the most insulting part:
01[11:32] {Threei}  a day or two ago I said this is the day when I will start looking for BBRY short...
01[11:32] {Threei}  the day of US launch
01[11:32] {Threei}  nothing like having right trading idea and not finding an entry
01[11:33] {Threei}  15:44] {Threei} probably time to start paying attention to BBRY again
01[11:33] {Threei}  [15:44] {Threei} when is the US launch? Match 22 or so?
01[11:33] {Threei}  [15:45] {Threei} march
01[11:33] {Threei}  [15:46] {Threei} yes
01[11:33] {Threei}  [15:46] {Threei} BlackBerry Confirms AT&T To Launch BlackBerry Z10 March 22
01[11:33] {Threei}  [15:47] {Threei} unless it offers sensational resul;tsa, I'd think it will be a great short opportunity
01[11:33] {Threei}  [15:47] {Threei} no more surprizes, quiet fizzle out
01[11:33] {Threei}  [15:48] {Threei} only break ober 18.30 will change my perception
[11:33] {Les} bearish 3 min macd was my clue to ask for short at .75 divergence increased on 2nd top forgot to follow it.
01[11:33] {Threei}  can you believe it :)
[11:34] {Les} lol that's today
[11:34] {Les} sell that sucker
01[11:34] {Threei}  it wasn't ready for a short technically at that point Les
01[11:35] {Threei}  this is what sent it down, just as I said:
[11:35] {Les} yeh that I understand
01[11:35] {Threei}  BlackBerry Tests session lows on cautious comments from BGC Partners analyst on CNBC
[11:35] {Les} pivot is .20
[11:35] {Les} bbry
01[11:36] {Threei}  so... I get points for foretelling the scenario, no profit from it (so far at least) and blame nemo for all that
01[11:37] {Threei}  - Hope is triumphing over experience this morning as Cyprus legislators work to pass a new package of reforms to save themselves from disaster. European indices traded up off steep session losses in the early US morning on optimism Cyprus would come up with something workable, and US equities are presently at session highs. EUR/USD has soared from 1.2890 to around 1.3010 presently
01[11:38] {Threei}  hmmm... I don't think they use word "presently" right
01[11:38] {Threei}  "I don't think this word means what you think it means"
01[11:38] {Threei}  at least I was taught "presently" is not a substitute for "at present moment"
01[11:39] {Threei}  frikin English native speakers... no help at all :)
[11:40] {jdetente} we speak 'Merican and use words like y'all and ain't
[11:40] {jdetente} hehe
[11:41] {Les} last piece ups -.02
01[11:42] {Threei}  that's better than what I speak, jd...
01[11:42] {Threei}  some think it's Merikan
01[11:43] {Threei}  I prefer to call it Threeiish
[11:43] {Les} nothing wrong with presently... I think
01[11:43] {Threei}  sure there is Les
01[11:43] {Threei}  presently doesn't mean "right now"
[11:43] {Les} I don't like presently
[11:43] {Les} yeh
[11:43] {Les} right
[11:43] {Les} for that reason
01[11:43] {Threei}  presently means "very soon"
[11:44] {Les} aaaaaaaaaah
[11:44] {jdetente} http://grammarwench.com/2009/09/18/currently-vs-presently/
[11:44] {Les} hmmmmmmm
01[11:44] {Threei}  as in: EU is going to crash presently
01[11:44] {Threei}  The Cyprus parliament is struggling to pass a new package of measures, including a total banking sector restructuring and a revised bank levy, although depositors holding �100K or less are said to be protected this time around. Analysts warn that the Troika may or may not accept whatever the parliament adopts, and officials from eurozone have not seen the new package. The EU more or less rejected the solidarity fund idea and the Russians do not seem interested in handing Cyprus a new loan. Former Cyprus Central Bank Chief (and ECB governor) Athanasios Orphanides warned that the events in Cyprus show "the European project is crashing to earth. This is a fundamental change in the dynamics of Europe towards disintegration and I don't see how it can be reversed."
[11:44] {jdetente} that link explains it perfectly
[11:44] {Les} I have to disagree. think common use of presently has changed
01[11:45] {Threei}  thanks jd, that's it
[11:45] {Les} http://www.thefreedictionary.com/presently
[11:45] {Les} old use - at once
[11:45] {Les} so I am archaic in my use of english
[11:45] {jdetente} Les, are you saying that currently the definition of presently has changed??
[11:45] {Les} don't start jd
[11:45] {jdetente} you don't like my humor...now I'm sad
[11:45] {jdetente} lol
[11:46] {Les} name u nemo junior
[11:46] {jdetente} now that's just mean, man
01[11:46] {Threei}  heh
[11:46] {jdetente} http://www.youtube.com/watch?v=BKHoMi-U8g4
[11:46] {Les} :)
01[11:47] {Threei}  he went through nemo training, "mean" is the best compliment he can get
01[11:47] {Threei}  jd... http://www.youtube.com/watch?v=pWdd6_ZxX8c
[11:48] {jdetente} oh man I use that Lebowski line all of the time. Love that movie
01[11:48] {Threei}  :)
[11:48] {jdetente} The scene about how much he hates the Eagles is another favorite
01[11:48] {Threei}  The Dude is unparalleled
[11:48] {jdetente} The Dude abides
01[11:51] {Threei}  Russian Leader Warns, �Get All Money Out Of Western Banks Now!�
01[11:51] {Threei}  this aggression will not stand, man
01[11:51] {Threei}  A Ministry of Foreign Affairs (MFA) �urgent bulletin� being sent to Embassies around the world today is advising both Russian citizens and companies to begin divesting their assets from Western banking and financial institutions �immediately� as Kremlin fears grow that both the European Union and United States are preparing for the largest theft of private wealth in modern history.
[11:52] {Les} yeh bring yer money home to the fatherland
[11:52] {Les} good one
[11:52] {Les} or is it motherland?
01[11:52] {Threei}  motherland
[11:52] {Les} ORCL getting heavy again
01[11:52] {Threei}  although there is a variation with fatherland too
01[11:53] {Threei}  "otechestvo"
[11:53] {ese} Thats a joke right?
01[11:53] {Threei}  so either will do
01[11:53] {Threei}  http://www.eutimes.net/2013/03/russian-leader-warns-get-all-money-out-of-western-banks-now/
01[11:53] {Threei}  why joke ese? isn't it exactly what they tried and still intend to do in Cyprus?
[11:55] {Les} all going down ese. u be careful with italian customs next time u r over here. might shake u down...
[11:55] {ese} modern communication............ya can't beat the fear mongering it can create.......it's a wow
01[11:55] {Threei}  well, fear was instilled by Cyprus/ECB action first
01[11:55] {Threei}  this is merely a reaction on what they did
01[11:56] {Threei}  how else will you qualify confiscation of 10 - 15% of bank deposit but a theft of private property?
01[11:57] {Threei}  money you keep in the bank, is it your money or bank's?
[12:00] {ese} mine plus 100% interest for lending it to them
01[12:00] {Threei}  korreqt
[12:00] {ese} lol
01[12:01] {Threei}  so, how else will you qualify confiscation of 10 - 15% of bank deposit but a theft of private property?
[12:01] {ese} sure is stunning....thats all I can say
01[12:01] {Threei}  you do know that's what ECB and Cyprus are trying to do, right?
01[12:02] {Threei}  so, why blame those who SAY "get out of those banks" and not those who DO this kind of things?
[12:02] {ese} yup
[12:03] {_littleal} We have FDIC coverage on our bank accounts.  If you are over the limit and the bank fails you become an unsecured creditor and take your chances.  You could lose 50% to 100%.
[12:03] {ese} i guess.......i guess they'd be stupid enough to do it......nothing surprises me any more
01[12:03] {Threei}  yes
01[12:04] {Threei}  asnd they tried to charge that levy even on insured accounts under 100K limit
[12:04] {_littleal} I see the Cyprus thing as the big guys trying to spread the pain around to the little guys.
01[12:04] {Threei}  exactly
01[12:05] {Threei}  sorry, eqzaktly
01[12:05] {Threei}  it's also an attempt to resolve their debt problem at the expense of taxpayer
01[12:06] {Threei}  which in a way is fair, after all it was this same taxpayer who voted in giovernments that can't stop spending
01[12:06] {Threei}  but in EU there is another flavor to it - no one elected EY government
[12:07] {_littleal} A lot of the Cyprus money is not from Cyprus.  Like a hotel tax, you tax people outside your area.
[12:07] {Les} aggressive entry on BBRY for break of low?
01[12:07] {Threei}  well, in hotel tax case they have a choice to come or not
[12:07] {Les} .15?
[12:07] {Les} nope
01[12:07] {Threei}  you don't charge hotel tax after their arrival without telling them prior :)
01[12:07] {Threei}  no
[12:08] {_littleal} Go to Vegas and get hit with a resort fee.
01[12:08] {Threei}  better analogy will be:
01[12:08] {Threei}  you come to Vegas,
01[12:08] {Threei}  they tell you they will charge you 10% after you settled in hotel,
01[12:09] {Threei}  you say "wait, there was no such charge in our agreement"
01[12:09] {Threei}  they say, yeah, we just decided to charge it,
01[12:09] {Threei}  you say "then I leave"
01[12:09] {Threei}  and they say no, you can't
01[12:09] {Threei}  That's what they did
01[12:10] {Threei}  btw, you know that they install capital controls as well?
[12:10] {_littleal} Hidden fees and changing the rules are 2 different things.  Cyprus is changing the rules
[12:10] {ese} well....let me see..........196 countries in the world(197 if you count Vancouver Island) minus 47 in Europe....leaves only 150 to go for crissis management.  Give this a break...sheesh
01[12:10] {Threei}  which means even after you pay that resort fee, you can't just up and leave
01[12:11] {Threei}  yes... Cyprus is changing rules, that's what I said
[12:12] {jdetente} If this Cyprus thing goes through it sets a terrible precedent
01[12:12] {Threei}  yup
[12:12] {jdetente} it's shortsighted
01[12:12] {Threei}  it means whole banking system, at least in EU, is not credible anymore
[12:12] {jdetente} of course the Euro model is/was shortsighted
[12:13] {Les} which makes dumbasses in EU such dumbasses
[12:14] {Les} and Switzerland don't want the money
[12:14] {Les} heeello Singapore
[12:14] {ese} hate to be the devils advocate here but you guys can't actually believe there that stupid?
[12:14] {Les} shit yeh
01[12:15] {Threei}  why ese?
01[12:15] {Threei}  sorry... "who"?
01[12:15] {Threei}  ECB?
[12:15] {Les} http://www.spiegel.de/international/germany/chancellor-merkel-angry-with-cyprus-as-euro-crisis-intensifies-a-890453.html
[12:15] {ese} the eu banking system
01[12:15] {Threei}  I assume you meant "they're"
01[12:16] {Threei}  what to believe ese?? this is what they DID
01[12:16] {Threei}  you don't believe your own eyes?
[12:16] {ese} did i miss something.....have they actually gone through with this law in Cypress
[12:17] {Les} Germany slowly working out that it doesn't have future in present EU. National politics begin to resurface
01[12:17] {Threei}  wow... have you been on this planet this week? :)
[12:18] {ese} and my question.....did I miss something.........is that law actually passed
01[12:18] {Threei}  ECB demanded this levy on accounts, Cyprus announced it, people revolted, Cyprus voted against it, ECB insists and says they will not bail them out unless they do it
01[12:18] {Threei}  this is whwre we are right now
[12:18] {ese} there thinking about it for monday
[12:19] {ese} ok......then i stand corrected......I missed that part
01[12:19] {Threei}  so, answer your question: yes, they ARE that stupid
[12:19] {ese} so basically they are saying the money in Cyprus banks is dirty money
01[12:20] {Threei}  but your faith in their rationality is adorable
01[12:20] {Threei}  no, this is not what they are saying
01[12:20] {Threei}  this is what they try to use as justification
01[12:20] {Threei}  what they are saying is:
01[12:20] {Threei}  when we need money, we can confiscate yours
[12:21] {_littleal} Banks go insolvent when assets decline so did they load up on Greek debt or poor real estate loans or both?
01[12:22] {Threei}  we don't know exactly... that article implies that Cyprus banks got involved in Greece crisis loaning them money, and that's what got them in troubles
[12:24] {_littleal} If the EU guarantees the Greek debt and this is the problem then the banks may not be insolvent and is a grab for money.
01[12:25] {Threei}  quite possibly.. with all the economic and political cross-currents, it's very opague
01[12:25] {Threei}  whole problem in Cyprus is 10B-sized, with is nothing
[12:26] {_littleal} Get politicians behind closed doors and there is not telling what they will do and the agenda they are trying to get.
01[12:26] {Threei}  but they insist on making it this bad, because each has their own electorate problem,
[12:26] {Will49} Cyprus=camel's nose under tent flap
01[12:26] {Threei}  Merkel faces election in climate increasingly hostile to bailing out other nations
01[12:27] {Threei}  and all of sudden tiny Cyprus become that same iceberg...
01[12:28] {Threei} Long Setup:  BP  .05 break
01[12:28] {Threei}  If holds  42
01[12:35] {Threei}  meh
01[12:36] {Threei}  ese... you here?
01[12:36] {Threei}  the latest:
01[12:36] {Threei}  (CY) Troika reportedly demands increase of Cyprus contribution to �6.7B (�5.8B prior); Cyprus Govt has agreed to the larger contribution, to discuss with party leaders - financial press
01[12:36] {Threei}  - Troika notes the conditions have become worse and therefore Cyprus contribution must increase.
01[12:36] {Threei}  - Cyprus Fin Min: Deposit levy still among the options being considered.
01[12:36] {Threei}  tell us again how "not stupid" they are
[12:37] {Les} Troika sounds like gangsters demanding protection payment
01[12:37] {Threei}  EU is a band of communists
01[12:38] {Threei}  some are openly such, as Barosso
[12:39] {_littleal} Troika and the Russian mob...Sharks take care of their own
01[12:39] {Threei}  or eat each other
01[12:40] {Threei}  I mean, there was no daylight between Stalin and Hitler
01[12:41] {Threei}  it's been 2 hours since last ravi grand entrance... I start missing him
[12:44] {ese} yes.......just watching the Oak Bay municipal yard people make a frickin mess of my front yard
01[12:45] {Threei}  see what happens when you don't own a gun
[12:51] {Will49} gee...in Victoria we have to cut our own grass. Can't get the muni workers to do it:)
01[12:53] {Threei}  again Will... get a gun and ask them politely :)
01[12:54] {Threei}  kind word and a gun are so much more effective than a kind word alone
01[12:55] {Threei}  you don't even have to take it out - strap it to the hip and wear lulu pants
01[12:56] {Threei}  (IT) Italy President Napolitano: Have given Bersani the mandate to form a Govt; there are some obstacles to a broad coalition Govt- Italy PD party's Bersani: Will attempt to start a dialogue with other political parties to form a Govt. **NOTE: Bersani said yesterday that he will try to present a narrow agenda of economic and institutional reforms that could gain support from a majority of the Parliament. - If no agreement to form a govt in Italy can be reached, a caretaker govt would be installed and new elections would be set, possibly as early as June
01[12:57] {Threei}  (CY) Finland Minister to the EU: Cyprus needs to divise an answer to the crisis by Sunday at the latest
01[12:57] {Threei}  divise?
01[12:58] {Threei}  I swear their typing is worse than mine
01[12:58] {Threei}  and I thought I was unbeatable
[12:59] {Will49} you would be with lulu pants
[12:59] {Les} ORCL bb strangle here
01[13:00] {Threei}  touche will
[13:02] {Will49} wouldn't touch your lulu pants with a ten-foot pole
[13:02] {Will49} touche
[13:03] {Les} bp short .89 stop above .00
01[13:03] {Threei}  *(UK) FITCH PLACES UK RATING ON WATCH NEGATIVE
01[13:04] {Threei}  Fitch expects to complete its review of the UK's sovereign ratings by the end of April. The RWN reflect the latest economic and fiscal forecasts published by the Office for Budget Responsibility (OBR) that indicate that UK government debt will peak later and at a higher level than previously expected by Fitch. General government gross debt (GGGD) and public sector net debt are forecast by the OBR to peak in 2016-17 at 100.8% and 85.6% of GDP and only begin to decline in 2017-18. Fitch has previously stated that GGGD failing to stabilise below 100% of GDP and on a firm downward path towards 90% over the medium term would likely result in a downgrade of the UK's sovereign ratings.
01[13:05] {Threei} Short Setup: BBRY  .20 break
01[13:05] {Threei}  If holds  .30
[13:07] {Les} not shortable of course
[13:08] {Will49} got it here
[13:25] {Les} ORCL VWAP here
[13:28] {thomcbell} bbry standard scalp procedure Vad?
01[13:28] {Threei}  if it works it should be more than scalp
[13:29] {thomcbell} market is strong as 10 men
01[13:29] {Threei}  BBRY is in its own world today...
[13:30] {Les} s orcl .93 stop above 32
[13:32] {ese} OMG   something is moving
[13:32] {Will49} Oak Bay muni workers?
[13:32] {backman} ahh, the wrong places i could go with that ese
[13:33] {ese} Ya them too will
[13:33] {ese} lol
01[13:33] {Threei}  lol
[13:33] {Will49} call the Mayor if they slow down again
[13:33] {Will49} ese, you probably in top ten tax payers in OB
[13:33] {Will49} you have influence
[13:34] {Will49} i saw the list:)
[13:34] {Will49} that's why I agreed to drink beer with you
[13:34] {Will49} maybe you can get me job at city hall
[13:35] {Will49} or in public works:)
01[13:36] {Threei}  1:1
[13:41] {Will49} why the similar candles on spy 1 minute?
[13:42] {thomcbell} this could easily crack to 15.60 with correct domino placement Vad
01[13:44] {Threei}  yes, we just need panic to start
01[13:44] {Threei}  two ways to do that
[13:44] {Will49} wera your lulus
01[13:44] {Threei}  one involves nemo with grenade
[13:44] {Will49} wear
01[13:45] {Threei}  another russina mobster with gun, in those same pants
[13:45] {Les} scottish parachutists apparently
[13:45] {Will49} LOL
01[13:45] {Threei}  that's third, and a good one, les
01[13:45] {Threei}  there is also a group of mobsters in tutus, doing rain dance
[13:46] {Will49} hahaha
[13:47] {Will49} hey dp...you bought your russian lulus yet?
01[13:48] {Threei}  he is traditional guy, he prefers tutu
[13:48] {Will49} :)
[13:49] {ese} easily one of the highest taxpayers with 2 houses
[13:49] {Will49} thought so
[13:51] {ese} We've just decided were going to do a Grimbergen again tonight if your interested.......our neighbor heard us talking about it and she wants to do it..........
[13:51] {jdetente} glad that Grimbergen is a beer...
[13:51] {jdetente} because otherwise..
[13:52] {Les} lol
[13:52] {ese} other wise what eh?
[13:52] {Will49} lol
01[13:52] {Threei}  lol
[13:52] {Will49} have to check with the tea-totalling wife
[13:53] {ese} ok
01[13:53] {Threei}  BBRY 1:2
01[13:53] {Threei}  let the panic begin
[13:54] {jdetente} that hit 1:3 but filled at .91
01[13:55] {Threei}  wtg
[13:55] {Will49} got 1:3 tks Vad
[13:55] {Will49} just
01[13:56] {Threei}  1:3
01[13:56] {Threei}  yw
[13:56] {Will49} best execution yet for me
[13:56] {jdetente} I'm out thanks Vad
01[13:56] {Threei}  nothing like a good panic
[13:56] {Les} C at vwap and support
01[13:56] {Threei}  I love those
01[13:56] {Threei}  we tend to find ourselves on the right side of it
[13:56] {Will49} lucky eh?
01[13:57] {Threei}  not at all
01[13:57] {Threei}  predicted a few days ago
[13:57] {Will49} bow to you
01[13:57] {Threei}  1:4
01[13:57] {Threei}  saw this 1000 times
[13:57] {backman} 15.75 was support a few days ago
01[13:57] {Threei}  day of expected event
01[13:58] {Threei}  run upo to this, selloff when there is nothing to expect anymore
01[13:58] {Threei}  crowd comes in
01[13:58] {Threei}  smart money gets out
[13:58] {jdetente} this one deserves a chart on the ol facebook
01[13:58] {Threei}  read TTR, and you know all you need to know about it
01[13:58] {Threei}  read A taoist Trader, and you know all you need to know how to exploit it
01[13:59] {Threei}  will do jd
[13:59] {thomcbell} trailing stop on bbry is 15.86 for me
[13:59] {Will49} whoa nelly
[14:01] {thomcbell} really that was the only legitimate short entry of the day on it Vad - very well played
01[14:01] {Threei}  ty
[14:04] {Les} c short .24 stop above .30
[14:07] {Les} cover half c .19
01[14:09] {Threei}  http://goo.gl/f7Mhb
01[14:09] {Threei}  ravi, man... this one alone was worth the price of admission
[14:10] {Will49} pretty sight
[14:10] {Les} cover half orcl .88 +.05
01[14:10] {Threei}  all the creativity deployed to come up with 4 different usernames, if aimed in the right direction, just think of it...
[14:11] {Will49} Dale Evan's grandson
[14:11] {Will49} Evans'
[14:12] {Will49} If you get this one, you're too old:)
[14:13] {jdetente} definitely a reference for the oldies
[14:13] {jdetente} ancient even
[14:14] {Les} cover c .10
[14:14] {Will49} Roy Rogers...my hero back in the age of naiveity
[14:14] {Will49} could'n spell then either
[14:16] {jdetente} BBRY trying to do a 1:6er
03[14:18] * Retrieving #discussions modes...
[14:18] {thomcbell} target Vad
[14:19] {thomcbell} lol
01[14:19] {Threei}  yup :)
[14:19] {Les} cranky on bbby
[14:19] {Les} nice sell the news example
01[14:20] {Threei}  isn't it beautiful when such a seemingly general understanding comes in as a foundation for a very practical implementatikon and very precise play
[14:21] {Les} got a educated friend telling me trading is random and controlled by machines. will have to show him that trade setup.
01[14:22] {Threei}  almost as gravity... you know it exists but you don't really want to believe it... and then that apple falls right on your head
01[14:22] {Threei}  tell him he is educated by academics who never made a dime in actual market
[14:22] {Les} bingo
01[14:22] {Threei}  I meet these types by dozens
01[14:22] {Threei}  typical dialog:
01[14:23] {Threei}  You are a trader? but it's random environment, how do you make a living
01[14:24] {Threei}  No, it's not. It's uncertain environment, but so is yours when you come out of your house and there is a brick up there, on the edge of the roof... will there be a wind gut sending it on your head or not?
01[14:24] {Threei}  But I read a study that shows that it's random.
01[14:24] {Threei}  Sorry, you are by profession?...
01[14:24] {Threei}  Oh, I am a biologist... plant, botany
01[14:25] {Threei}  Ahha. Listen I read a study that shows that pkants are the same as animals, only very slow.
01[14:25] {Threei}  ??? This is lunacy. Some idiot wrote it.
01[14:25] {Threei}  There you go!
01[14:25] {Threei}  at this point he blinks and realizes the connection
01[14:26] {Threei}  If he doesn't and continues, my last line is:
01[14:26] {Threei}  I do it for a living for the last 16 years. You read one study. You know about it more than I do, sorry.
[14:27] {_littleal} Checked out my old college textbook on The stock market theory.  What a laugh.  No discussion of technical analysis.  This is what they teach.
01[14:27] {Threei}  yeah, "efficient market theory"
01[14:27] {Threei}  what a load of crap
[14:27] {_littleal} random walk
01[14:28] {Threei}  here is one strangest thing for which I haven't found any explanation
01[14:29] {Threei}  if you are a doctor, engineer, pilot, whatnot,
01[14:29] {Threei}  no one thinks they can tell you something about your profession. By default, everyone assumes you know about it more than they do.
01[14:30] {Threei}  In markets, for some inexplicable reason everyone thinks vy default they are as knowledgeable about it as professional traders
01[14:30] {Threei}  They don't ask you, they tell you
01[14:30] {Threei}  They come in and try to make money, get their asses handed to them. Think they come out of it thinkiing they should stify?
01[14:30] {Threei}  study
01[14:30] {Threei}  No.
01[14:30] {Threei}  Their conclusion is:
01[14:31] {Threei}  I tried to trade, it didn't work, ergo it's impossible.
01[14:31] {Threei}  Whe I hear this, and I hear this often,
01[14:31] {Threei}  I say:
01[14:31] {Threei}  Hey, I tried to play piano once.
01[14:31] {Threei}  Didn't work.
01[14:31] {Threei}  Usually at this point everyone around gets this and laughs
01[14:32] {Threei}  except instigator, who gets all hot under the collar and red-faced
01[14:32] {Threei}  and hates me... which is very fuine with me
01[14:33] {Threei}  Makes me questionable party participant though :)
[14:33] {ese} ok....2:30......whadaya think...mrkt makes a run up from here to the endo of the day?
[14:33] {Les} yeh it was when u put Tao trader in front of me that I realised that Uni and education and accumulation of knowledge was half of the whole. One reason I pursued trading and Aikido
01[14:34] {Threei}  only of Cyprus says something positive ese
01[14:34] {Threei}  if
06[14:34] * Les kicks BP up the arse with a steel capped toe
01[14:35] {Threei}  any hint of agreement not being reached, we may get a good panic into close
01[14:36] {Threei}  who wants to carry position into weekend with this hanging sword
[14:36] {Les} The Fed's got yer back ;)
01[14:36] {Threei}  the Sword of Damocles
[14:42] {jdetente} wowzas BBRY
[14:46] {Les} ORCL q cover 1:3
[14:46] {Les} next stop daily low
[14:47] {_littleal} You still in BBRY?  Making a killing?
01[14:48] {Threei}  I was out at .60
[14:51] {Les} BP almost ready to let go
[14:58] {nemo} see where the 200 day is Les
[14:59] {Les} sure seen
[14:59] {Les} was my frikin entry that was atrocious
01[14:59] {Threei}  (CY) Cyprus haircut legislation reportedly has been pushed back to tomorrow
[15:00] {Les} wanted under .95
[15:00] {Les} stupid enough to sell the swan dive
[15:00] {Les} should already be 3/4 out
[15:00] {Les} but stupid is as stupid does
[15:00] {ese} cyou all monday........i'm not doin anything the rest of the day...have a great weekend
[15:00] {Les} ciao ese
01[15:00] {Threei}  take care ese
[15:00] {backman} l8r
[15:00] {ese} later les vad
[15:02] {_littleal} isn't the final hour where the self annointed smart money comes in?
[15:02] {thomcbell} bbry 1:15
01[15:02] {Threei}  supposedly, yes
[15:02] {backman} strange how long it took for BBRY news to play out in the market
[15:03] {Les} beautiful swan dive. gonna print out the daily and trade setup on BBRY
[15:03] {Les} ORCL daily lows here
[15:03] {Les} watching for DB
01[15:03] {Threei}  and like that FB post 5 times
[15:04] {nemo} they mean scalping legislation don't they
[15:06] {dptl} clf short?
[15:07] {_littleal} You know this Cyprus stuff of stealing deposits is nothing new.  John Corzine comes to mind.
01[15:07] {Threei}  hard to tell dp
01[15:07] {Threei}  nemo?..
[15:08] {nemo} ?
01[15:08] {Threei}  scalping legislation?
[15:08] {Will49} wake up nemo
[15:08] {nemo} yeah, like taking scalps..injun style
01[15:09] {Threei}  oh... sheesh, with 5 min between lines, who can reverse-engineer your thinking
01[15:09] {Threei}  without half-litre of vodka at least
[15:09] {Les} short ORCL .70?
[15:09] {Les} wanna average in again
01[15:10] {Threei}  hl
01[15:10] {Threei}  don't do full position, snapck can be vicious
01[15:10] {Threei}  snapback
[15:10] {Les} will leave it then. trail to .76
[15:13] {dptl} i am in .69
[15:15] {Les} averaged in to .80
[15:16] {thomcbell} bbry was best play in some time
[15:16] {thomcbell} wicked
[15:16] {Will49} i second that!
01[15:17] {Threei}  elegant one, I concur
[15:17] {backman} heck, I'm just playing with laser demo...even i liked it
01[15:18] {Threei}  but being a very compassionate one, I can't help but feel very sorry for reshi... or ravi...
[15:22] {Les} stopped .715 ave snapback
[15:22] {Les} BP stop to .91
[15:22] {Les} death or out flat
[15:27] {dptl} out -.08
[15:38] {Les} and finally stopped
[15:39] {nemo} damn, was hoping for death
[15:39] {backman} thnx all...been an instructive week
[15:39] {Les} nice weekend to you to Nemo
[15:39] {Will49} see ya back
[15:40] {Les} cheers Bman
[15:43] {Les} huge snapback in UPS
01[15:45] {Threei}  (CY) Cyprus parliament will vote today on 9 bills, but to delay vote on deposit levy so that it can be discussed further tomorrow - Cyprus press
01[15:45] {Threei}  crimbiots
[15:47] {dptl} see ya monday all have a good weekend
01[15:48] {Threei}   guys, thank you all
[15:48] {Will49} see ya dp
01[15:48] {Threei}  uneven but profitable week
[15:48] {Will49} bye everyone
01[15:48] {Threei}  have a great weekend
[15:48] {Les} cheers
01[15:48] {Threei}  see you Monday
[15:51] {jdetente} have a great weekend all