Dec 11 00:00:01 2008

Great start of the day with silver and gold stocks. Drab afternoon with some scalps, some stops - pretty much a wash. On the total, another nice day that we could pretty much end in an hour after open. Had a chance for a nice real time demonstration of trades based on former resistance/new support.

                     

Session Time: Thu Dec 11 00:00:01 2008

[08:10] {Threei}  PREVIEW: US INITIAL JOBLESS CLAIMS DATA DUE OUT AT 8:30 AM ET

[08:10] {Threei}  - Expectations for initial claims are 525K v prior release of 509K

[08:10] {Threei}  - Continuing claims seen at 4.100M v prior 4.087M.

[08:18] {Threei}  BALTIC DRY BULK INDEX +2.9%

[08:19] {Threei}  A FOURTH STRAIGHT INCREASE

[08:19] {Threei}  {DRYS EGLE DSX EXM}

[08:30] {Threei}  INITIAL JOBLESS CLAIMS: 573K V 525KE; CONTINUING CLAIMS: 4.429M V 4.100ME

[08:30] {Threei}  yikes

[08:31] {Threei}  *OCT TRADE BALANCE: -$57.2B V -$53.5BE

[08:39] {Threei}  DRYS

[08:39] {Threei}  10.02 yest low

[08:39] {Threei}  loses 10 now

[08:40] {Threei}  small shares short

[08:40] {Threei}  ugh

[08:40] {Threei}  don't chase

[08:42] {Threei}  got just 200 shares

[08:42] {Threei}  hardly worth much... but will consider it morning warm-up

[08:42] {Threei}  covered half .80

[08:43] {Threei}  ummm... half of 200 shares {G}

[08:43] {_elepet} I am having trouble understanding what goes on.  could you please explain in detail what you just did?

[08:43] {Threei}  shorted 10 breakdown on DRYS

[08:44] {Threei}  out 9.59

[08:45] {Threei}  [08:39] {Threei} 10.02 yest low

[08:45] {Threei}  [08:39] {Threei} loses 10 now

[08:45] {Threei}  [08:40] {Threei} small shares short

[08:45] {Threei}  two days support breakdown

[08:45] {Threei}  serves as short trigger

[08:46] {Threei}  helps, elepet?

[08:47] {_elepet} a bit.  now it has started back up. shorts covering?

[08:47] {Threei}  and borttom fishing

[08:47] {_elepet} would you consider buying long at any oint?

[08:48] {Threei}  not yet

[08:50] {Threei}  I don't enter randomly... need a setup

[08:50] {Threei}  that breakdown was one

[08:51] {Threei}  bounce was from arbitrary point, can't read it

[08:51] {_elepet} please explain "setup" in this situation.

[08:51] {Threei}  setup is a certain chart formation

[08:51] {Threei}  providing favorable odds

[09:01] {_elepet} If two days breakin support triggers short, is there anything like that which triggers long?

[09:02] {_elepet} I am somewhat "chart challanged"

[09:03] {_elepet} watching tape, i would have gone long again at about 10.10

[09:04] {Threei}  there are a lot of setups

[09:04] {Threei}  can't really answer that without retyping two books here :)

[09:04] {Geo} gm

[09:05] {Threei}  Geo :)

[09:05] {Geo} i see yo made a killing on DRYS vad :)

[09:05] {Threei}  lol

[09:07] {tomg} good morning all

[09:07] {Threei}  tom :)

[09:08] {tomg} vad, can you look back at 13:49 yesterday and tell me what setup you saw for Q's?

[09:10] {Threei}  pullback after breakout, conservative entry

[09:11] {tomg} ok, ty but it's hard for me to see that one

[09:12] {Threei}  didn't work anyway

[09:12] {Threei}  so who cares {G}

[09:12] {tomg} i saw h&s and failure to make new highs at about 13:17

[09:12] {tomg} i care

[09:13] {tomg} for next time :)

[09:14] {lisa_jay} Charts can be seen differently by different folks.  Just control risk and trade sestup.  Dinoism, Vadism.

[09:14] {tomg} just don't see breakout point, that's all

[09:15] {Threei}  let's try to go over it when it appears next time, easier for me to do it when it's fresh

[09:15] {tomg} ok

[09:15] {Threei}  alzheimer, you know...

[09:15] {Onix} Good morning all

[09:15] {Threei}  plus, I tend to forget about those that don't work in a span of whole 1 minute

[09:15] {Threei}  onix :)

[09:16] {ese} morning

[09:16] {Threei}  ese :)

[09:16] {Onix} hi ese

[09:16] {KSystems} Good morning!

[09:16] {Threei}  ks :)

[09:16] {KSystems} vad :) long time no see

[09:17] {Onix} hi ks

[09:17] {KSystems} hey Onix

[09:17] {Threei}  hey... don't overestimate my alzheimer :)

[09:17] {Threei}  I do remember I've seen you yesterday

[09:18] {brian3579} gm all

[09:19] {dino} gm all

[09:19] {Threei}  brian, dino :)

[09:20] {hawkfan4} morning

[09:20] {_elepet} Oh, good morning everybody.  Am I the only trial member here?

[09:20] {Onix} hi brian & dino

[09:20] {dino} lol, afam out just now +.91

[09:21] {Threei}  hawk :)

[09:21] {hawkfan4} gm elepet, looks that way :)

[09:21] {Onix} gm elepet

[09:22] {_elepet} I have lots of questions. maybe I'll wait for the time of day when the doldroms set in.

[09:22] {patience} that would be august

[09:22] {patience} good morning

[09:22] {Threei}  lol

[09:22] {KSystems} :)

[09:22] {Threei}  good morning patience

[09:22] {Threei}  CIEN

[09:22] {Threei}  CO. BELIEVES IT CAN TURN A PROFIT IN 2009 - CONF CALL

[09:23] {dino} lol patience

[09:23] {dino} welcome to the jungle elepet

[09:24] {Onix} hi patience

[09:25] {patience} hi onix, looking to dump my silver wheaton shortly

[09:25] {patience} will be watching the VIX today, I still can't believe market going up

[09:25] {Onix} yes, i suppose it will move down shortly after opening?

[09:27] {dino} believe patience, believe...plus i have some nice swamp land for sale

[09:27] {Onix} lol

[09:27] {patience} i have some northern ocean front for sale too dino

[09:27] {dino} :)

[09:33] {lisa_jay} .

[09:34] {magoo} lksfdijhfdhfdhjjhl

[09:34] {Threei} Long Setup:  SSRI  half lot 10 break

[09:34] {Threei}  if stays above .85

[09:35] {Geo} 11

[09:35] {Threei}  11, sorry

[09:36] {dino} well the fri close gap filled finally

[09:37] {magoo} SIGH..not one of u gave a "good morning magoo"

[09:38] {lisa_jay} Good morning Magoo.

[09:38] {patience} we know you're shy magoo

[09:40] {Threei}  oh hi magoo

[09:41] {lisa_jay} Are nasdaq stocks updating for you all?

[09:41] {Threei}  yes

[09:42] {lisa_jay} Ok, thanks.

[09:47] {Threei} Long Setup:  RGLD  small shares .50 break

[09:48] {Threei}  stop under .30

[09:48] {Threei}  thin one

[09:49] {Threei}  SSRI will be valid again if pulls back slightly and stays above .85 again

[09:50] {Threei}  or consolidates here for a few minutes

[09:50] {patience} out slw +.93

[09:50] {patience} hated holding overnight

[09:50] {lisa_jay} nice

[09:50] {Onix} gj

[09:50] {Threei}  wtg

[09:51] {patience} ty  :)

[09:52] {peterg} morning

[09:52] {Threei}  peter :)

[09:52] {Chaeron} good morning all.... nice hold patience

[09:52] {Threei}  chaeron :)

[09:53] {dino} gj patience

[09:53] {Threei}  half out SSRI

[09:53] {Threei}  +.20

[09:54] {_elepet} when did you get in. i missed that

[09:54] {Threei}  [09:34] {Threei} Long Setup: SSRI half lot 11 break

[09:54] {Threei}  [09:49] {Threei} SSRI will be valid again if pulls back slightly and stays above .85 again

[09:54] {Threei}  [09:50] {Threei} or consolidates here for a few minutes

[09:54] {KSystems} got from .01 to .19 half, thanks

[09:55] {Threei}  :)

[09:55] {Geo} final target vad?

[09:55] {Threei}  it broke 11 at 9:52 elepet... seee that?

[09:56] {_elepet} yes, but i wasn't clear that you actually bought then. now i see.

[09:56] {Threei}  it triggers, I enter

[09:56] {Threei}  next spike Geo... feeling is somewhere above .40

[09:57] {Geo} ty

[09:57] {magoo} i hit RGLD .38

[09:57] {_elepet} so i guess if i got in now it would be "chasing" and don't do it?

[09:58] {Threei}  that would be a whole lot of chasing

[09:58] {Threei}  we already sold half, why would tou want to enter 3o cents above trigger price

[09:58] {peterg} to make a dime?

[09:58] {Threei}  risking over 30 cents stop? :)

[09:59] {peterg} aha

[09:59] {Threei}  not my idea of right way to trade

[09:59] {wishbone} ssri shares sold 2, 3, 4 at  time

[10:00] {_elepet} I keep watching drys go up. but in never hit your trigger?

[10:00] {patience} slw on coke,,,crying, i left much on the table

[10:01] {wishbone} ssri +.31 ty vad

[10:01] {Threei}  wishbone :)

[10:01] {Threei}  I never had a call on DRYS

[10:02] {dino} what?! patience, just say no

[10:02] {magoo} vad..last night i was dreaming in a trade u called 

[10:02] {Geo} sheesh

[10:02] {patience} bitter bitter tears, i coulda had the 60 inch tv

[10:02] {peterg} the fifty aint half bad

[10:02] {Geo} now thats a true lament patience

[10:03] {patience} funny thing is...i don't watch tv, but my daughter wants one

[10:03] {peterg} of course

[10:03] {tomg} i've done that magoo, more than once :)

[10:03] {Chaeron} day isn't over yet patience...

[10:03] {dino} hearing the same in my house

[10:03] {tomg} would never have admitted in here, though :)

[10:03] {Chaeron} just get another trade

[10:03] {Threei}  mags, consider exiting RGLD into spike over .70

[10:04] {Geo} my 4 year  old went to a friends house and was mortified that they didnt have a tv in their bedroom

[10:04] {Geo} i need to manage expectations better

[10:04] {dino} how do they watch the vidioes then?

[10:04] {Threei}  out second half SSRI .42

[10:04] {peterg} tv in every room?

[10:04] {Geo} lol

[10:04] {Onix} wtg

[10:04] {wishbone} dino lol

[10:04] {magoo} anyone get RGLD with me?

[10:04] {patience} hiding

[10:05] {dino} vno sm l .90

[10:06] {Threei}  [10:03] {Threei} mags, consider exiting RGLD into spike over .70

[10:06] {Geo} exited as per bad 20 cens thanks

[10:06] {magoo} oops lol

[10:06] {Threei}  [10:06] {Threei} [10:03] {Threei} mags, consider exiting RGLD into spike over .70

[10:07] {Geo} all out .49 ssri

[10:07] {Geo} thanks vad

[10:07] {Threei}  welcome

[10:07] {ese} L HERO .72    see if can make the jump to 6}00

[10:07] {dino} vno stopped -.32

[10:07] {magoo} out TY

[10:07] {ese} aggressive entry

[10:11] {dino} vno rinsed

[10:12] {Threei}  WHITE HOUSE: "THERE IS A CHANCE" THAT THE SENATE MAY PASS LEGISLATION REGARDING AUTO AID

[10:12] {Threei}  - Note: Yesterday the Senate Republican caucus was vocally against the bill, and at least one Democratic Senator was also against the bill.{GM F}

[10:15] {magoo} if QQQQ goes up...i like it long here he he

[10:15] {Threei} Long Setup:  QQQQ  30 break if stays above .90

[10:15] {magoo} great minds 

[10:15] {ese} stop to .75 HERO 

[10:16] {Threei}  in Qs aggresively

[10:16] {Threei}  .91

[10:17] {Threei}  stop under .85

[10:17] {magoo} too funny..92 here

[10:18] {Threei}  ideally, it would spike into 30 now for half out, and then broke for another half

[10:18] {Geo} in .91 too

[10:18] {Geo} 10 lots

[10:18] {Threei}  10 eh?

[10:18] {Geo} hehehe

[10:19] {Geo} just helping you along

[10:19] {Threei}  kick it too then

[10:19] {Threei}  ah come on, was almost there

[10:19] {ese} out HERO .94 +.22 on a lot and a 1/2

[10:19] {Threei}  (US) SENATOR CORKER: NOTES THAT MANY REPUBLICNAS WOULD LIKE TO SEE BANKRUPTY FOR AUTO FIRMS

[10:20] {Threei}  wtg ese

[10:20] {ese} volume was kinda thin for  alot and a 1/2 but if ya can't have fun once in a while.........when can ya eh?

[10:20] {Threei}  move your butt QQQQ

[10:20] {Threei}  half out .99

[10:21] {Geo} yessssssss

[10:21] {KSystems} me too

[10:21] {Threei}  had two lots

[10:21] {Geo} me too

[10:21] {KSystems} not me

[10:22] {wishbone} out q's 30

06[10:22] * magoo slaps Geo around a bit with a large a word of caution to the newbie he he

[10:22] {Geo} its thick and gives many chances to be right or wrong

[10:22] {Threei}  sooo

[10:22] {Threei}  stop is .89 now

[10:22] {Threei}  offering 1/4 more 30.10

[10:22] {dino} axys v sm l .30 wide risky

[10:22] {Geo} thanks magoo

[10:23] {magoo} just keep the stops as size goes up bro...trust magoo

[10:23] {Geo} yeah real diligent on stops

[10:23] {magoo} double loses twice as fast 

[10:23] {Geo} agree

[10:23] {Geo} i only do it in QQQQ as small stops and thick

[10:23] {Threei}  it would be so even if you disagreed...

[10:23] {Geo} mannn almost filled

[10:23] {KSystems} I'm waiting at .10 for another 1/4

06[10:24] * Geo slaps Geo around a bit with a large rich and hated manual

[10:24] {Threei}  ah come on

[10:24] {Threei}  ok

[10:24] {Geo} yessssss

06[10:24] * magoo slaps Threei around a bit with a large book of wisdom

[10:24] {Threei}  out 1/4 more

[10:24] {Threei}  stop to .95

[10:24] {Geo} half lot left

[10:24] {Geo} aitting at .2

[10:24] {Geo} sitting

[10:24] {Threei}  offering last portion at the price to be determined yet

[10:25] {Geo} wow hero ese

[10:25] {magoo} hurry up so i can undercut u lol

[10:25] {Threei}  lol

[10:25] {Geo} dont think undersut works in Qs

[10:25] {Geo} gld ill belive and do it !

[10:25] {Geo} hmm undershirt

[10:27] {magoo} out .09

[10:27] {magoo} btw

[10:28] {magoo} id thank u but it was my call he he

[10:28] {Geo} imo pullback only

[10:28] {magoo} [10:15] {magoo} if QQQQ goes up...i like it long here he he

[10:28] {magoo} [10:15] {Threei} Long Setup:  QQQQ  30 break if stays above .90

[10:28] {Geo} sitting at previous close

[10:28] {Geo} shame on vad for mooching

[10:28] {magoo} nobody gets the joke??

[10:29] {magoo} of course if goes up we like it long

[10:29] {Geo} lolol

[10:29] {Geo} dint read detail

[10:29] {wishbone} ty magoo and vad for the synchronized call....is that an o;lympic sport? :)

[10:29] {Geo} ughhhh

[10:29] {Threei}  lol

[10:29] {Geo} ugly image of both swimming

[10:29] {magoo} hmmmmmmmmmm daytrading as an olym sport?

[10:30] {Geo} my burn retinas

[10:30] {wishbone} lol

[10:30] {wishbone} in speedos

[10:30] {magoo} magoo struggling to lift vad on ice

[10:31] {dino} axys stopped -.41 v sm

[10:31] {Geo} it def wants up

[10:32] {Geo} keeping my half lot

[10:34] {Threei}  stop to .99

[10:35] {Geo} any target yet vad?

[10:35] {Threei}  I am out

[10:36] {Threei}  too hard spike

[10:36] {Geo} out at .2

[10:36] {Threei}  yup, same here

[10:36] {Geo} thanks lord vadere

[10:36] {Threei}  welcome

[10:36] {Geo} previous close superstition

[10:36] {Geo} heheh nice out

[10:36] {Threei}  witness the dump

[10:36] {Threei}  lol

[10:36] {Chaeron} Qs in .91 out .18 for +$0.27.... thanks Vad

[10:36] {Threei}  :)

[10:37] {KSystems} is Q's action comparable to NQ?

[10:37] {Threei}  same thing

[10:37] {KSystems} k

[10:37] {Threei}  NQ is futs, Qs is cash

[10:38] {wishbone} geo, previous close superstition?

[10:38] {Geo} .20 was previous close

[10:38] {Geo} i used it as a res to exit

[10:39] {Geo} well no close but high of last candle

[10:39] {Geo} doesnt make sense  so called it superstition

[10:39] {wishbone} gotcha' ty

[10:40] {Geo} switching to profit protection mode....nice day eh vad?\

[10:41] {Threei}  very much so

[10:41] {dino} gj geo

[10:41] {peterg} good-oh gee-oh

[10:42] {dino} vno sm l .50

[10:44] {Threei}  exits into sharp spikes... how I like thee...

[10:44] {peterg} is a spike up or down?

[10:44] {peterg} or both

[10:44] {peterg} depending

[10:45] {peterg} exit into spike....hmmmm

[10:45] {peterg} I see, it is unknown

06[10:45] * Threei slaps peterg around a bit with a large book of Techniques of Tape Reading

[10:46] {peterg} my copy is at home

[10:46] {peterg} my dog ate it

[10:46] {lisa_jay} Vad, if one gets slapped repeatedly with the book can one absorb conents into brain.

[10:46] {peterg} wait, I dont have a gog

[10:46] {peterg} dog

[10:46] {Threei}  sharp upward spike with volume increase signifies what?

[10:46] {peterg} jbe

[10:46] {Threei}  that's the idea lisa

[10:47] {Threei}  JBE is consolidation setup

[10:47] {lisa_jay} Ok, then euphoria....

[10:47] {peterg} yes sensie

[10:47] {Threei}  there

[10:47] {Threei}  Euphoria

[10:47] {peterg} sensei

[10:47] {Threei}  which marks the what?

[10:47] {lisa_jay} Unload shares to suckers like me.

[10:47] {Threei}  lol

[10:48] {dino} lol

[10:48] {peterg} lisa is good student. I was always BAD student

[10:48] {Threei}  politically correct version is, it marks the end of the stage of the move

[10:48] {peterg} but I learned anuyway

[10:48] {lisa_jay} I am good only in theory...

[10:48] {peterg} thats good

[10:48] {peterg} a start

[10:48] {peterg} I learn backwards;

[10:48] {peterg} practice followed by theory

[10:49] {peterg} takes twenty or thirty years per skill

[10:49] {peterg} but when you get it its solid

[10:57] {lisa_jay} testing

[10:58] {Threei}  A+

[10:58] {lisa_jay} Thanks Vad.

[10:58] {lisa_jay} My microwave kills the connection.   Just wanted to make sure I am connected.

[10:59] {Threei} Long Setup:  GG  .60 break, half lot, if stays above .50

[11:01] {magoo} in gg

[11:02] {wishbone} in gg

[11:04] {Geo} out

[11:04] {wishbone} stopped gg

[11:04] {Geo} at .47

[11:05] {magoo} out

[11:05] {Geo} good to embrace stops

[11:06] {lisa_jay} stopped

[11:07] {dino} obama on

[11:08] {magoo} mkt usually likes osama

[11:08] {Threei}  shakeout

[11:08] {magoo} er um obama

[11:08] {Threei}  grr

[11:09] {Geo} i entered 50

[11:09] {Geo} out 60

[11:09] {Geo} just got the stop back

[11:09] {Geo} when heard the one is one

[11:10] {Geo} vad did you find th symbol?

[11:13] {Threei}  no

[11:13] {Threei}  asked dave to check but forgot to asak him what he found out

[11:15] {KSystems} I need to get the car back

[11:15] {KSystems} back in about 2h

[11:15] {Threei}  volume is so low on thia advance, I can't get a feel

[11:15] {KSystems} dont empty the market completely while I'm away

[11:15] {Threei}  what kind of a car if I may?

[11:15] {KSystems} Mazda MX-5

[11:16] {Threei}  ok... get it back then

[11:16] {KSystems} they sold it in north america as Miata I think

[11:16] {peterg} the cute convertible

[11:16] {Threei}  'cause if it's american-made, you may just as well not to bother {G}

[11:16] {Geo} fancy that

[11:16] {peterg} pls, north american made

[11:16] {Geo} germans buying cheap japanese

[11:16] {Geo} i have a mazda too

[11:17] {lisa_jay} which one Geo?

[11:17] {peterg} soon as vad makes me more money, im getting the big benz

[11:17] {Geo} cant fit in miata though

[11:17] {Geo} old 626

[11:17] {peterg} good car that

[11:17] {lisa_jay} Wow.

[11:17] {Geo} debating pilot or sequoia

[11:17] {peterg} sequoia so big

[11:17] {Threei}  read my lips:

[11:18] {Threei}  Nissan Murano

[11:18] {Geo} i need 3 rows

[11:18] {dino} still waiting for buy one get one free from us carmakers

[11:18] {Threei}  no you don't

[11:18] {Geo} kids + cycle etc in the back

[11:18] {Geo} we have good weather vad

[11:18] {Threei}  put kids on bicycles and make them chase you

[11:18] {Geo} so go out with lot os stuff

[11:18] {Geo} hehehehe

[11:19] {peterg} needs to have ipod connection built in

[11:19] {Threei}  sheesh, how many kids do tyou have??

[11:19] {dino} 3rd row is nice geo, i have it too

[11:19] {Geo} only 2

[11:19] {Threei}  so what's the problem

[11:19] {Threei}  bike rack

[11:19] {Geo} but its a pain when family visits

[11:19] {peterg} but its nice to have them as far back as possible

[11:19] {Threei}  kids go to back seat

[11:19] {Geo} and they visit a lot

06[11:19] * Geo thinks they visit more than they should

[11:20] {Threei}  well... buying bigger car for that you encourage more visits {G}

[11:20] {Geo} lol

[11:20] {lisa_jay} lol

[11:20] {Geo} its their grandkids

[11:20] {magoo} why is everyone ignoring magoo today????

[11:20] {Geo} ok magoo

[11:20] {Threei}  is magoo here?

[11:20] {Geo} which car and how many kids

[11:20] {peterg} who is magoo?

[11:20] {lisa_jay} I thoght you went to the pot** Magoo...market took a dive.

[11:21] {dino} lol

06[11:21] * peterg slaps Geo around a bit with a large diamond-encrusted 1959 Cadillac Coupe DeVille

[11:22] {Geo} yup dino third row is good for visitors and great to pt down and put stuff for day picnics

[11:22] {Geo} i dont like getting slapped with bankrupt company cars

[11:22] {peterg} this is a classic

[11:22] {peterg} monster fins from the past

[11:22] {Geo} how about the phaeton

[11:22] {peterg} the benz ?

[11:22] {peterg} nice

[11:23] {peterg} saw one once, like on rails

[11:23] {peterg} in NYC

[11:23] {peterg} no rolls phaeton

[11:23] {peterg} benz Mayfair, mayback

[11:23] {peterg} maybach

[11:23] {dino} geo, you worry too much, when they discount the cars 10k+, bankruptcy not really an issue, imo

[11:23] {laserdave1} laserdave1 slaps Threei around with a salami sandwhich

[11:24] {lisa_jay} big dive

[11:25] {Geo} hey dave whats the symbol of 30 year treasury bon

[11:25] {Threei}  wow

[11:25] {Threei}  what happened?

[11:25] {Geo} double top

[11:25] {Geo} aint i smart

[11:26] {peterg} qqqq looks like batman

[11:26] {Threei}  rofl

[11:26] {Threei}  what imagination

[11:26] {Geo} 1220 break short NQ in hindsight

[11:26] {dino} lol it does

[11:38] {Threei}  if you had this setup, why not short it on bounce into new resistance/former broken asupport?

[11:38] {Threei}  perfectly touched 1220 on bounce and dropped back

[11:39] {lisa_jay} That would be conservative entry Vad?

[11:39] {lisa_jay} for Double top?

[11:40] {patience} hey dino, how do we close today?

[11:43] {dino} wmt hl .50 l

[11:43] {dino} up the gut says

[11:43] {patience} ty

[11:44] {dino} axys no mercy

[11:45] {Threei}  yes lisa, plus this idea of support becoming resistance

[11:46] {lisa_jay} Ok, thanks Vad.

[11:47] {Threei}  let's do a quick educational review

[11:47] {Threei}  have a look at GG 1 minute

[11:47] {wishbone} ya

[11:48] {Threei}  from 1_45 to 11:20 roughly, it established .50 as support

[11:48] {Threei}  from 10:45

[11:48] {Threei}  11:24 it broke down

[11:48] {Threei}  now, after the drop, bounce reached this level

[11:49] {Threei}  now it served as resistance, and GG dropped off of it

[11:49] {Threei}  made higher low and restested resistance again,

[11:49] {Threei}  with higher low it became more likely to break it this time which it did

[11:50] {Threei}  after break it retreated twice into this former resistance, now support

[11:50] {Threei}  and both times held it, making it possible entry on a long side.

[11:50] {lisa_jay} yes

[11:51] {Threei}  when such pronounced levels are being established, there is ample opportunity for scalpers to play around it

[11:51] {lisa_jay} Vad, when there is a pullback, how do you determine when to enter.

[11:52] {Threei}  pretty much discretionary,

[11:52] {Threei}  general idea is:

[11:52] {lisa_jay} On first sign of strength? or put order in to be hit (which sometimes it does not).

[11:52] {Threei}  when it nears such level close enough for your risk comfort, you are watching for signs of strength resuming

[11:53] {dino} axys sm l .00

[11:54] {lisa_jay} GG goint to retest the .50 level again.

[11:55] {lisa_jay} Took 10c on it Thanks Vad.

[11:55] {Threei}  notice how lower Bollinger band came into .50 at the same time

[11:56] {Threei}  worked perfetcly

[11:56] {Threei}  and lisa profited from very fresh lesson

[11:56] {Threei}  lol

[11:56] {Threei}  could it be any more perfect

[11:56] {wishbone} kick ass....thanks Vad...nice work Lisa:)

[11:56] {Threei}  theory lesson turning into profit 3 mnutes later

[11:56] {lisa_jay} Thanks Wishbone.

[11:57] {Threei}  you guys must allow me one not funny joke for that... and laugh at it

[11:57] {lisa_jay} ok

[11:57] {wishbone} no arguments here!

[11:59] {wishbone} vad would you describe some signs strength?

[12:00] {Geo} forgot your setting vad

[12:00] {Geo} mind sharing the BB setting again?

[12:00] {Threei}  just level 2/T&S wishbone

[12:01] {Threei}  bids strengthening, offers thinning, prints switching to ask side, uptick

[12:01] {Geo} that line is gold vad

[12:01] {Threei}  geo: 13, stardard deviation 1.7

[12:02] {Geo} ty

[12:02] {Threei}  which line?

[12:02] {wishbone} ok ty vad

[12:02] {magoo} ok..i have apptmt today so have to leave

[12:02] {Geo} [09:01] {Threei}  bids strengthening, offers thinning, prints switching to ask side, uptick

[12:02] {magoo} ty all

[12:02] {Geo} wait mago!!!!!!!!!!!!!!!!!!!!!!!

[12:02] {Threei}  ah come on... standard thing

[12:02] {lisa_jay} Bye Magoo.

06[12:02] * Geo slaps magoo around a bit with a large trout

[12:02] {magoo} he he

[12:02] {Threei}  take care mags

[12:02] {dino} wmt stop to .94\

[12:03] {Geo} learning it real time wihle looking for it difficult

[12:04] {dino} out wmt +.44

[12:04] {lisa_jay} nice

[12:05] {dino} ty

[12:05] {Threei}  30.20 now QQQQ support

[12:06] {Threei}  was broken on a sharp spike so not very strong support

[12:06] {Threei}  but something to watch

[12:10] {lisa_jay} Q's broke out of flag on 60 min chart.

[12:31] {patience} is every on wall street at the christmas party?  is anything moving?

[12:31] {patience} everybody

[12:32] {dino} nope

[12:33] {Geo} zzzzzzzzzzzzzzzzzz

[12:33] {Threei}  yawn©

[12:35] {patience} ok, taking mom shopping, give us 20 minutes and the market should pop

[12:35] {wishbone} just took 40 winks:)

[12:35] {lisa_jay} lol

[12:35] {Threei}  please tell us where you shop if that publickly traded

[12:35] {lisa_jay} Yeah..should we buy COH, COST, M

[12:36] {Threei}  peter used to move RIMM for us when manoevered with Blackberry

[12:36] {peterg} sent it back, still using Motorola Razr

[12:43] {lisa_jay} GG did another retest of breakout level.

[12:43] {lisa_jay} .80 this time.

[12:44] {Threei}  works like charm eh?

[12:45] {Threei}  watch what it does near 29 now

[12:45] {Threei}  recently broken resistance

[12:46] {Geo} hey what happenned to the blinking color calls ?

[12:46] {Threei}  you didn't see those in the morning?

06[12:46] * Geo is not greedy?

[12:46] {Threei}  10:59 the most recent

[12:47] {Threei}  reversed off 29.03 lisa

[12:47] {lisa_jay} yes, too busy eaty spagetti...could have taken it off of .91.

[12:48] {Geo} mmmmm spagetti

[12:48] {Threei}  I would pick spaghetti too

[12:48] {lisa_jay} with tons of cheese...made of 5 year olds.  Yummy.

[12:48] {lisa_jay} beats getting .30c on trade anyday.  sigh.

[12:48] {Geo} depends on the lot size on the 20 cents lol

[12:48] {Geo} 30

[12:49] {lisa_jay} yeah

[12:49] {dino} lol

[12:50] {Threei}  but I am the guy who said (and got slapped for that) "Given a choice between heartburn and romance as a cause for some behavioral patterns, I'll name heartburn any day"

[12:50] {lisa_jay} lol

[12:50] {Geo} that was too deep

[12:50] {Threei}  that's me

[12:50] {Threei}  deep

[12:51] {Geo} lvs

[12:55] {Threei}  GG nonstop

[12:56] {lisa_jay} sob

[12:57] {Geo} serves both of yo right

[12:57] {Geo} teaching and learning rather than trading

[12:57] {lisa_jay} :-)

06[12:57] * Geo ducks

[12:57] {Threei}  I got it

[12:57] {Threei}  geo is taliban

[12:58] {Geo} wot???????????????

[12:58] {Threei}  hates the image of woman learning

[12:58] {dino} t sm l .50

[12:58] {Geo} you do realize taliban means student in urdu

[12:58] {Threei}  nope

[12:58] {Threei}  I don't even know what urud is

[12:58] {Threei}  urdu

[12:58] {Geo} derivative of arabic

[12:58] {Geo} spoken in south asia

06[12:59] * Threei decides against phrase "I don't even know what sia is"

[12:59] {Threei}  asia

[12:59] {Geo} its where russia claims to be

[12:59] {lisa_jay} Sia is a singer.

06[13:00] * Geo googling frantically

[13:00] {Geo} is she cute?

[13:00] {Threei}  it's he

06[13:00] * Threei ducks

[13:00] {Geo} nope

[13:00] {Geo} http://en.wikipedia.org/wiki/Sia_Furler

[13:00] {lisa_jay} I love her music, but not sure if she is cute...i don't swing that way.

[13:00] {Geo} no meat eating man will be named sia

[13:01] {Threei}  HIG, small bounce scalp if pulls back closer to 16

[13:04] {peterg} still lower on HIG?

[13:04] {Threei}  not taking it here

[13:04] {peterg} k

[13:04] {Threei}  too far from support

[13:05] {Threei}  meat eating man eh... I like this

06[13:07] * Threei slaps KSystems around a bit with a large clay model of Mazda MX-5

[13:08] {Threei}  finher on the trigger HIG

[13:08] {Geo} ot?

[13:08] {Geo} lot

[13:08] {Threei}  full

[13:09] {Threei}  in

[13:09] {Threei}  .03 and .04

[13:09] {Threei}  just a scalp, ridiculously tight stop

[13:10] {Geo} under 95?

[13:10] {lisa_jay} where stop vad

[13:10] {Threei}  either under .95 or even under 16

[13:10] {_elepet} in at .04

[13:10] {Threei}  this kind ofte requires a few tries

[13:10] {Threei}  high odds of shakeout

[13:12] {Threei}  no help from market

[13:13] {Geo} out

[13:14] {Threei}  no woprky

[13:14] {dino} out t

[13:42] {dino} vno sdm l .22

[13:43] {dino} sm

[13:45] {Geo} hullo?

[13:45] {Threei}  ewho are you calling hullo?

[13:45] {Geo} ok connected

[13:50] {lisa_jay} ggany read Vad?

[13:51] {lisa_jay} never mind

[13:54] {Geo} yawn (copyrighted)

[13:54] {dino} vno stop is .98

[13:54] {dino} stopped

[13:55] {lisa_jay} dumps

[13:55] {Geo} wow

[13:59] {Geo} inside day again i guess

[14:03] {Threei}  JPM

[14:03] {Threei}  CEO DIMON: DID NOT ASK FOR OR NEED TARP FUNDS - CNBC INTERVIEW

[14:14] {peterg} ok group, off to school conference for high school senior; nearing the end of these things!

[14:14] {peterg} make money & have fun

[14:14] {Threei}  take care peter

[14:14] {peterg} bye

[14:17] {dino} cya

[14:21] {Threei}  DEYS becomes a bounce candidate

[14:22] {Threei}  DRYS

[14:22] {Threei}  off 9.50 support with market help

[14:24] {Threei}  finger on the trigger

[14:24] {Threei}  first strength

[14:24] {Threei}  in

[14:24] {Threei}  stop under .30

[14:24] {Threei}  don't touch it if not ready for a few tries

[14:25] {Threei}  no go

[14:27] {Threei}  atempt #2 is coming

[14:36] {dino} afam hl l .50

[14:43] {Threei}  market just can't find footing

[14:43] {patience} office punch bowl must be spiked

[14:45] {lisa_jay} very strong selling

[14:45] {Threei}  with no news

[14:45] {lisa_jay} next week options expiry

[14:45] {KSystems} they've run out of bad news

[14:45] {KSystems} must be a bad sigh

[14:45] {Threei}  lol

[14:45] {KSystems} sign

[14:47] {dino} afam stopped sheesh

[14:49] {Threei}  one more leg down it seems

[14:55] {Threei}  been quite a while since we've seen such string selling

[14:55] {Threei}  strong

[14:55] {lisa_jay} yup

[14:55] {Geo} just when we were forgetting it

[14:56] {Geo} lets all thank jamie dimon

[14:56] {Threei}  what did he do?

[14:56] {Geo} Trading loans and high yields and mortgages; seeing constant credit deterioration, probably worse than they had expected

[14:56] {Geo} said this on cnbc

[14:57] {Geo} Said November has been a difficult month and it will be a tough Q4... December is 'doing pretty terrible', worse than expected

[14:57] {lisa_jay} We might get a gap fill Dino?

[14:58] {dino} got it 8635

[14:58] {dino} s&p filling

[14:59] {lisa_jay} nasdaq

[14:59] {wishbone} what is ticker for s&p in laser?

[14:59] {Threei}  bounce time

[14:59] {dino} spy

[14:59] {Threei}  "/sp8z"

[15:00] {Geo} today thurday probably switch to 9H

[15:00] {Threei}  oh yes

[15:00] {Threei}  forgetting rollover

[15:00] {lisa_jay} what are you looking for bounce Vad?

[15:01] {Geo} what bounce heheheheh\

[15:01] {Threei}  you sure you need this excitement lisa? :)

[15:01] {lisa_jay} :-)

[15:01] {wishbone} ty dino....vad /sp8z entered in trading settings doesn't work for me.....do i need to pay

[15:01] {Threei}  if yes, DRYS would be my preference

[15:01] {Threei}  it's a CME feed

[15:02] {wishbone} ok ty vad

[15:02] {Threei}  if you don't have it, you won't see those

[15:03] {Threei}  ok, if I can get DRYS at 8 I'll be all over it :)

[15:06] {Geo} all over it hmmmmmm

[15:08] {lisa_jay} Geo, not so inside a day anymore...sigh.

[15:08] {Threei}  missed it under .40... grrr

[15:20] {Threei}  8.75 break

[15:20] {Geo} stop vad?

[15:21] {Geo} below 60

[15:21] {Threei}  under .65 or .60

[15:21] {Geo} sorry .65

[15:25] {Threei}  half out

[15:25] {Threei}  .84

[15:26] {Threei}  out in full .93

[15:27] {lisa_jay} 18c Thanks Vad.

[15:27] {Threei}  welcome

[15:28] {wishbone} +18 ty vad

[15:28] {Threei}  :)

[15:34] {dino} gj

[15:34] {Threei}  what a reletnless selling

[15:34] {lisa_jay} Vad, how to determine if this is a double bottom on q's or not?  Thanks.

[15:35] {Threei}  doesn't look like one

[15:36] {Threei}  it may very well hold this support but I am not jazzed about buying here

[15:36] {Threei}  rather feels like more downside to me

[15:37] {lisa_jay} Ok, thanks.

[15:39] {dino} same feeling

[15:39] {dino} going for -300+

[15:39] {patience} tsx -302

[15:39] {peterg} back for close

[15:40] {peterg} in anything?

[15:40] {Threei}  not at the moment

[15:41] {Threei}  some stops some scalps while you were out

[15:41] {Threei}  nothing outstanding

[15:41] {Threei}  -249 Dow

[15:41] {Threei}  hello afternoon selloffs, long time no see

[15:43] {dino} afam big old rinse

[15:46] {patience} hmm...slw salmon

[15:46] {dino} classic 3:40 bounce

[15:52] {peterg} well, my hopes for a profitable day are dashed

[15:52] {dino} me too peter

[15:52] {dino} we'll get 'em tomorrow

[15:52] {peterg} yep

[15:52] {Geo} you didnt take vads calls peter

[15:53] {peterg} are you strill on vadcontrol, geo?

[15:53] {peterg} I think I'll go there

[15:53] {Geo} i do stuff on side

[15:53] {Geo} but i am not in a position to refuse his calls yet :)

[15:53] {peterg} absolutely

[15:54] {peterg} in my ten year learning program, I am doing executions now for the next five years

[15:54] {Threei}  why would anyone want to do that

[15:54] {wishbone} good nite all

[15:54] {peterg} nite wish

[15:54] {peterg} do waht?

[15:54] {Threei}  I would understand if my calls sucked

[15:54] {lisa_jay} Bye Wishbone

[15:54] {Threei}  take care wish

[15:54] {Geo} if youre more experienced like dino you branch out

[15:54] {Geo} thats what i mean

[15:54] {wishbone} thanks again for the lesson on GG Vad and the great calls!

[15:54] {Threei}  :)

[15:54] {Threei}  it's not so much about experience

[15:54] {dino} lol geo, dino has been confused 

[15:55] {wishbone} bye lisa. peterg

[15:55] {Threei}  as it is about personal style and comfort zone

[15:55] {Geo} its a phase

[15:55] {dino} magoo kicking my azz last two weeks

[15:55] {Threei}  imagine yourself exprienced

[15:55] {Geo} now thats tough

[15:55] {Geo} lol

[15:55] {Threei}  would it mean you'd reject calls you find consistently profitable and matching your trading styule?

[15:55] {Geo} if i am in a postion and monitoring i might

[15:55] {peterg} time to expand trading style repertoire

[15:58] {Geo} did vad just kick me out?????????????????

[15:58] {peterg} whole room dumped

[15:58] {Threei}  all of ya

[15:58] {peterg} but you me & 3

[15:58] {Geo} just kidding

[15:58] {Geo} ok ok ill take all calls !!!!!!!!!!!!!!!

[15:58] {Threei}  consider it my revenge

[15:58] {peterg} this is the inner sanctum, geo, where vad and i make really big bux

[15:58] {Threei}  lol

[15:58] {Geo} nope i was kicked out

[15:58] {peterg} patience in

[15:58] {Geo} and just got in

[15:59] {Geo} good day vad

[15:59] {Geo} 2.5x

[15:59] {peterg} many are called but few are chosen

[15:59] {Threei}  there

[15:59] {Geo} thanks a lot..... some mine

[15:59] {Threei}  and you are unhappy

[15:59] {patience} gorgeous day vad...time for a hike around the lake

[15:59] {Geo} hey when did i say that?

[15:59] {Threei}  even if you didn't I need an excuse for a slap

[16:00] {Geo} [12:57] {Geo} you didnt take vads calls peter

[16:00] {Threei}  on second thought... why do I need excuse

06[16:00] * Threei slaps Geo around a bit with a large roll of cash

[16:00] {Geo} ahhhhhh

06[16:00] * Geo slaps Threei around a bit with a large gold bar

[16:00] {Geo} feel the love !!!!

[16:00] {Threei}  not sure about lake

[16:00] {dino} gj geo, 3i

[16:00] {Threei}  ty dino

[16:01] {Threei}  ok guys, have a great evening

[16:01] {Geo} dino not that i am in a position to give pointers.....

[16:01] {Threei}  see you tomorrow

[16:01] {dino} i vow to do better tomorrow

[16:01] {Geo} but watching ZB for tells has helped me a lot

[16:01] {peterg} u2 vad, geo patience elepet dino

[16:01] {peterg} and lisa

[16:01] {Geo} i could give you atleast 3 charts where they are early by a min

[16:02] {patience} i'm watching silver wheaton tomorrow...it wants to pop

[16:02] {dino} geo, what is zb?

[16:02] {Geo} future 30 yr bond

[16:02] {dino} i am using tbt, tlt

[16:03] {Geo} i find it lagging

[16:03] {dino} ok, 20 year the others

[16:03] {Geo} zb runs first

[16:03] {dino} thx

[16:06] {lisa_jay} Thanks Vad.