Jul 15 2009
Fair day, considering big gap eating into day's range. WFC, AIG, INTC longs worked nicely... followed by customary coma of course.
Session Time: Wed Jul 15 00:00:00 2009
[08:17] {Threei} BLTXX Baltic Dry Bulk Index +7.3%, second consecutive gain and largest gain since June 2nd
[08:23] {BillyD} morning Vad
[08:23] {Threei} Billy :)
[08:30] {Threei} JUN CONSUMER PRICE INDEX M/M: 0.7% V 0.6%E; CPI EX FOOD&ENERGY M/M: 0.2% V 0.1%E
[08:30] {Threei} JULY EMPIRE MANUFACTURING: -0.5 V -5.00E
[08:41] {fernp} good morning everybody
[08:42] {nemo} hallo
[08:42] {Threei} fern, nemo :)
[08:43] {larisa} good morning :)
[08:44] {Threei} larisa :)
[08:45] {nemo} larry :)
[08:45] {larisa} sigh
[08:52] {cosmo} "
[08:55] {cosmo} TRGT
[08:56] {Threei} 7:07:09 AM
[08:56] {Threei} Targacept TC-5214 Achieves All Primary and Secondary Outcome Measures in Phase 2b Trial
[08:56] {Threei} - Releases results from a double blind, placebo controlled, flexible dose Phase 2b clinical trial of TC-5214 as an augmentation (add-on) treatment for major depressive disorder, or MDD, in subjects who did not respond adequately to first-line treatment with citalopram alone.
[08:56] {Threei} -The results on all of the trials secondary efficacy measures, including assessments of depression, irritability, disability, cognition, severity of illness and global improvement, were also highly statistically significant in favor of TC-5214 on an intent to treat basis.
[08:56] {Threei} was hatled
[08:56] {cosmo} ...how depressing...
[08:57] {cosmo} ASML
[08:57] {cosmo} 23
[08:57] {cosmo} so far
[09:01] {Threei} OXGN to Raise $10 Million in Registered Direct Offering (1.98, 0.00, 0.00%)
[09:01] {Threei} COIN 2009 Production and Sales Increase at Converted Organics Gonzales, CA Organic Fertilizer Manufacturing Facility (1.02, 0.00, 0.00%)
[09:01] {magoo} morning
[09:01] {Threei} mags :)
[09:02] {magoo} resilient lil mkt eh?
[09:02] {Threei} COIN jumped a bit
[09:02] {Threei} FEED too
[09:03] {dino} gm all
[09:04] {Threei} dino :)
[09:05] {dino} cnbc a bit euphoric imo
[09:07] {nemo} intc and Gannett beating. If media is beating this could be a solid up day
[09:10] {cosmo} sounds violent...
[09:11] {nemo} beating earnings estimates cos...
[09:11] {cosmo} ah
[09:12] {magoo} cnbc giddy
[09:12] {magoo} expirations friday..are they gonna take them to the higher strikes dino?
[09:12] {BillyD} fyi.....can't short AIG
[09:13] {Threei} sigh
[09:13] {magoo} dam
[09:14] {dino} imo, we get one very big down day, either today or tomorrow
[09:14] {vinod} GM
[09:14] {ese} good morning
[09:14] {Threei} vinod, ese :)
[09:15] {Threei} JUNE INDUSTRIAL PRODUCTION: -0.4% V-0.6%E; CAPACITY UTILIZATION: 68.0% V 67.9%E
06[09:16] * magoo slaps Threei around a bit with a large trout
[09:16] {vinod} open high and closed at even point this is my take for today
[09:17] {nemo} big jump and FLAT
[09:17] {vinod} yes
[09:17] {nemo} MMmmmmmm...day off
[09:19] {dino} the open gaps trouble me
[09:19] {vinod} lots of short sq and lot of sell in rally
[09:19] {texus} gm
[09:19] {nemo} arguable
[09:20] {Threei} texus :)
[09:20] {Threei} we will see... this kind of gap days often resolve in dead day,
[09:20] {Threei} and sometimes in a big continuation move
[09:21] {BillyD} voulume is light on these gaps
[09:21] {nemo} get oil today too
[09:22] {vinod} last night 17K of INTC move stock up 1.20
[09:22] {dptl} good morning all
[09:22] {jfjf64} mornin
[09:23] {_johnk3} gm
[09:23] {Threei} dp, jf, john :)
[09:24] {jfjf64} anythi to watch at open vad
[09:24] {Threei} kind of "everything"
[09:24] {Threei} hate this kind of opening
[09:24] {Threei} too many things move
[09:25] {jfjf64} lk that
[09:25] {jfjf64} last 2 mornin ya been on lets get em
[09:27] {Threei} DRYS is interesting
[09:28] {Threei} WFC, 24.80 - .85 is three days high break
[09:29] {Threei} I'd really prefer some pullback at the open, consolidation, then breakouts everywhere
[09:29] {Threei} that would be perfect scenario for big continuation move
[09:29] {nemo} the old bull flag
[09:29] {Threei} breaks right out of the gate is less desirable turn of events,
[09:29] {jfjf64} couldnt agree more
[09:30] {Threei} more likely to fizzle out wuickly and leave us with no range
[09:30] {nemo} although, RIMMs been flat for the last half hour
[09:30] {nemo} so much for that
[09:30] {Threei} pullback so far
[09:31] {Threei} FITB... that stron close was a clue
[09:31] {Threei} ok... WFC
[09:31] {Threei} Long Setup: WFC .85
[09:32] {Threei} stop under .70
[09:34] {magoo} long intc .82
[09:34] {magoo} 92
[09:36] {magoo} AIG dumper
[09:37] {Threei} AIG needs a bit more selling
[09:37] {ese} out intc from 07/07 17.88 +1.03 10k
[09:37] {Threei} wtg ese
[09:37] {fernp} gj ese
06[09:37] * magoo slaps ese around a bit with a large trout
[09:37] {Threei} ok WFC, it's time
[09:37] {dino} gj es
[09:38] {ese} tks i sold 15k of it yesterday at break even i didn't want to be holding 25k through the earnings announcement
[09:38] {Threei} let's trail WFC to under .75
[09:39] {nemo} wow $ smashed
[09:40] {fernp} FITB breakin hod
[09:40] {magoo} out intc .07 2k lot
[09:41] {Threei} hmmm
[09:41] {Threei} let's trail to under .80
[09:41] {Threei} I'd expect it to be at 25 already
[09:41] {Threei} don't want to get caught into sudden downturn
[09:42] {Threei} it worked too well yesterday, maybe it's back to its old tricks
[09:45] {Threei} Short Setup: RIMM .50 break
[09:45] {Threei} half lot
[09:46] {magoo} in rimm
[09:46] {Threei} stop is self-explanatory
[09:50] {Threei} if you are very stingy, RIMM can be trailed to above .60
[09:50] {dino} yum l .00
[09:50] {Threei} loss of .45 shoudl send it down
[09:51] {Threei} ok... drop already
[09:52] {jfjf64} lets go ya dog
[09:52] {Threei} stop to above .60 for sure
[09:52] {Threei} 5 cents shy of 1:1? come on?
[09:54] {dino} bwld sm l .50
[09:54] {Threei} stop to .55
[09:56] {magoo} covered rimm .41 TY had fl
[09:56] {Threei} the easiest way would be to take smallish scalp on RIMM, yeah
[09:56] {Threei} I just think we may not get a lot of plays later on
[09:56] {Threei} so with minimal risk here want to give this one a chance
[09:56] {Threei} personal choice
[09:56] {magoo} i didnt like up move aapl
[09:56] {nemo} we're not getting much for plays now
[09:57] {Threei} nope
[09:57] {Threei} there... you were right
[09:57] {nemo} who was
[09:57] {Threei} magoo
[09:57] {magoo} aapl went ,90 area reversed..i thought oh oh
[09:57] {Threei} WFC, finbally
[09:57] {Threei} half out
[09:57] {nemo} neat spelling
[09:57] {Threei} .96
[09:58] {magoo} intc vad..may be getting bounce ready
[09:58] {nemo} is that like ferngully
[09:58] {dino} out yum .15, +.15
[09:58] {Threei} INTC, I'd prefer to see double bottom for entry
[09:59] {Threei} one more dive, into .75 roughly
[09:59] {Threei} yep, like this
[09:59] {Threei} now, .82 is long if no new low
[09:59] {Threei} with stop located right under the low of this pullback
[09:59] {Threei} see the play's structure?
[10:01] {Threei} there you go...
[10:03] {BillyD} I think I have a quote problem...
[10:03] {Threei} 1:1 for scalpers
[10:03] {fernp} ty Vad. I am out
[10:03] {Threei} :)
[10:04] {BillyD} did INTC jump from .81 to .84 bid on you Vad with no prints?
[10:04] {Threei} need quotes Billy?
[10:04] {Threei} there were prints, just too fast,
[10:04] {Threei} but then it did pullback right into .82 offer
[10:04] {Threei} and hit my bid
[10:04] {fernp} yes Bill It did it, then pullback
[10:04] {Threei} that's where I typed "there you go"
[10:04] {nemo} yeah that's how I bought
[10:04] {BillyD} ok...that helps me then
[10:05] {Threei} sorry Billy... didn't mean to be so helpful, not my nature... don't want to shock you by sudden change in my behavior pattern
[10:05] {BillyD} it's ok...I never took it that way
[10:05] {BillyD} :)
[10:05] {Threei} whew
[10:06] {BillyD} your reputation is in tact
[10:06] {Threei} now, halve a look at 1 min INTC
[10:06] {Threei} have
[10:06] {Threei} now that the play is complete, see what I envisioned making a call?
[10:06] {Threei} total textbook
[10:06] {BillyD} yew
[10:06] {BillyD} yesw
[10:06] {BillyD} yes
[10:07] {Threei} oh good
[10:07] {nemo} perfect spot to plug TTR
[10:07] {jfjf64} that was great read
[10:07] {Threei} right typing of the three-letter word on a third try - true mark of realitytrader
[10:07] {_mikej} are you still in wfc
[10:07] {Threei} half
[10:07] {Threei} [09:57] {Threei} WFC, finbally
[10:07] {Threei} [09:57] {Threei} half out
[10:07] {Threei} [09:57] {nemo} neat spelling
[10:07] {Threei} [09:57] {Threei} .96
[10:08] {Threei} btw... thanks for reminding me, stop to under .85
[10:08] {Threei} this thing is annoying today
[10:08] {nemo} it's been annoying every day except yesterday
[10:08] {Threei} TTR? what about it?
06[10:09] * Threei slaps nemo around a bit with a large book of Techniques of Tape Reading
[10:09] {nemo} [10:06] {&Threei} now that the play is complete, see what I envisioned making a call?
[10:09] {nemo} [10:06] {&Threei} total textbook
[10:09] {nemo} textbook{----TTR
[10:09] {nemo} :)
[10:09] {_mikej} ty
[10:09] {Threei} sure mike
[10:09] {Threei} I don't remember... there is a detailed description of how to play this one in TTR?
[10:09] {nemo} then again, Houghton Mifflin has it
[10:09] {Threei} I remember there is one in scalping course
[10:09] {nemo} not the point....hawk the book
[10:10] {Threei} ah
[10:10] {Threei} .70 break was a good trigger on RIMM for long... just hated stop being way too wide
[10:10] {nemo} o.k. "Vad Graifer's compendium of publications is a surfeit..no, treasure trove of trading nuggets..."
[10:10] {Threei} eeck
[10:10] {nemo} too much caffeine
[10:11] {magoo} saigh
[10:11] {dino} bwld stopped -.30
[10:11] {nemo} is that gaelic for something magoo?
[10:12] {Threei} AMZN...
[10:12] {nemo} wfc looks like it might be a short
[10:12] {magoo} jpm too
[10:13] {Threei} hoped for AMZN to stay under .15 to form short setup with 83 trigger
[10:13] {Threei} ruined
[10:13] {magoo} i took it .3o
[10:13] {nemo} funny, I was loooking at it long above .22
[10:14] {Threei} that was the fade, yeah
[10:14] {magoo} shit i thought long
[10:14] {Threei} volume was abit too iffy for a call
[10:14] {nemo} what volume?
[10:14] {Threei} volume configuration did not matych long
[10:14] {magoo} out .56 TY
[10:15] {magoo} i guess lol
[10:15] {Threei} so for me it was kind of:
[10:15] {nemo} I know, I was going along with it
[10:15] {Threei} if shapes up for short, it's a call,
[10:15] {Threei} if for long, it's for your discretion
[10:15] {Threei} US Treasur'y Geithner; USD will remain principal currency; committed to strong USD
[10:15] {Threei} Preview: DOE (EIA) Petroleum Inventories due at 10:30amET
[10:15] {Threei} **consensus expectations:
[10:15] {Threei} Crude: -1.7Me
[10:15] {Threei} Gasoline: +750Ke
[10:15] {Threei} Distillate: +1.9Me
[10:16] {magoo} some numbers 10:30 correct?
[10:16] {nemo} korekt
[10:16] {Threei} move up your eyelids
[10:16] {Threei} by just couple lines
[10:16] {nemo} that says expectations Vad
[10:16] {magoo} boy..u cranky
[10:17] {nemo} me or vad?
[10:17] {magoo} vad
[10:17] {Threei} umm... and that's different from any other day how??
[10:17] {magoo} well..hows my ? any diferent?
[10:18] {Threei} what your ?
[10:18] {magoo} huh?
[10:18] {Threei} lol
[10:18] {Threei} out WFC balance
[10:18] {magoo} could u imagine magoo in your class? lol
[10:19] {Threei} sure... I will just need a taser
[10:19] {nemo} homo erectus magoous
[10:19] {magoo} short jpm .70
[10:20] {nemo} Raven-we're bad today...you'll just get disgusted
06[10:21] * magoo slaps Raven around a bit with a large trout
[10:21] {nemo} Raven's will eat trout
[10:21] {Threei} Long Setup: INTC .95 break
[10:21] {nemo} market too strong for shorts it looks like
[10:21] {Threei} scalp only
[10:22] {magoo} stopped jpm
[10:22] {Threei} stop under .90
[10:27] {Threei} no worky
[10:28] {wulff} HIG worky
[10:28] {nemo} mmmhhh think oil number bullish
[10:28] {dino} met l .70
[10:29] {Threei} HIG was pretty break...
[10:29] {Threei} missed it... you alerted about it wulff?
[10:29] {wulff} almost too pretty
[10:29] {wulff} no sorry
[10:30] {Threei} DOE CRUDE: -2.8M V -1.7ME;
[10:30] {Threei} GASOLINE: +1.44M V +750KE; DISTILLATE: +550K V +1.9ME
[10:33] {Threei} NVAX Hearing takeover chatter circulating
[10:33] {Threei} - GILD rumored as potential acquirer (14.39, 0.53, 3.82%) (related GILD )
[10:34] {wulff} out +.21
[10:38] {ese} gild L .56
[10:39] {ese} no baby...it was a good fill IT"S .55
[10:40] {Threei} market stalls...
[10:40] {BillyD} VAD..AMZN short off .40 if stays under .52
[10:40] {dino} out met flat
[10:40] {Threei} I like it
[10:41] {ese} out gild .63 +.08
[10:41] {nemo} 20k of the little buggers?
[10:42] {ese} no ....i wish 3k
[10:43] {wulff} CAT falls
[10:44] {Threei} Former Tsy Sec Paulson: BoA cancelling Merrill deal was unthinkable
[10:45] {nemo} mmmmhhhh....rimm tracking spy more than Qs
[10:46] {larisa} ese one day you have to tell the story, what made you play big size lots and how did you gain confidence doing it, had winning streak at the beginning? just interested in huge lots player mindset :) wanna be brave like you :)
[10:46] {nemo} you would have had to do alot of mind altering experimentation when you were younger Larry
[10:47] {Threei} funny Larisa - he just told this story at the dinner this very Sunday, lol
[10:47] {larisa} does not help me :)
[10:48] {Threei} hey, you were invited :)
[10:48] {larisa} lol
[10:49] {ese} hi larissa.......after watching vads scalp trading video i caught onto the trading more than 1000 sh lots.
[10:49] {BillyD} out amzn -.15
[10:49] {Threei} chop chop started
[10:49] {ese} up to then i was getting winners but had to always wait for them to make .20 or so to pay off
[10:50] {ese} it just seemed to make sense to do the larger lots depending on volume and shortter stops.
[10:50] {wulff} INTC
[10:51] {ese} I also combined that with some of financial analysis/valuations that i learned with taking the canadian securities course
[10:52] {ese} coupled that with technical analysis to get some botoms in some stocks like fitb and intc and went very large with them
[10:54] {larisa} so having 10K and 1K is the same level of pressure for you ? you trained yourself? :)
[10:54] {ese} but i don't hang around anymore when they pay off....the old es used to hang around with the swing trading i was doing and would eventually loose the profit that i made
[10:54] {ese} i guess i coupled that with vads scalping process into a system that seems to work for me
[10:55] {Threei} larisa... the idea of scalp type I is much shorter market exposure time
[10:55] {ese} yes 10k and 1k are the same
[10:55] {ese} yes tks vad.....definately much shorter exposure time
[10:55] {larisa} in my mind scalping does not mix with big lots, but rather contradicts, this is why i am asking
[10:55] {larisa} trying to understand
[10:56] {Threei} why... just opposte in fact
[10:56] {Threei} smaller stops and better risk control allow for bigger lots
[10:56] {nemo} Larry, if the volume/liquidity is sufficient, what's the problem
[10:56] {Threei} if you go for a swing trade, your stop will naturally be wider
[10:56] {ese} you can scalp big lots....but it has to be with stocks that trade basically 10,000,000shs per day
[10:56] {Threei} since ou have to base the trade on larger time frame,
[10:57] {Threei} thus more price swings are being accounted for.
[10:57] {Threei} With day trade, your stop will be narrower
[10:57] {Threei} since you look at lesser time frame charts,
[10:57] {Threei} wich allows for more shares
[10:57] {Threei} and with scalp it's being taken to the extreme
[10:58] {Threei} Liquidity must be incorporated of course
[10:58] {Threei} and that's why ese does it on such thick stocks as INTC or FITB
[10:59] {Threei} makes sense?
[11:00] {dino} apol l .39]
[11:00] {dino} .30 i mean
[11:01] {dino} rick l .20
[11:03] {larisa} it is still the most twisted style, may be you need to be a man to do it :) and musician :)
[11:03] {larisa} ty guys
[11:03] {nemo} twisted, thy name is woman
[11:03] {Threei} man, maybe... but musician is the last thing you could call me
[11:04] {Threei} I mean if I sing, people think WW3 started
[11:05] {larisa} you ever played 10k vad ?
[11:05] {Threei} sure
[11:05] {larisa} then you are musician :)
[11:06] {Threei} why then the piano locks itself up from inside when I approach...
[11:06] {BillyD} lol
[11:09] {ese} thinkin qqqq L at .82
[11:09] {ese} .62
[11:09] {wulff} me AAPL
[11:10] {Threei} http://www.realitytrader.com/blog/2007/04/as-you-name-boat-or-what-is-scalping.html
[11:10] {magoo} i thinking pullbk time
[11:10] {Threei} you'll liker the first paregraph larisa
[11:11] {Threei} ugh
[11:11] {Threei} paragraph
[11:12] {larisa} :)
[11:15] {ese} l qqqq .62
[11:17] {wulff} AAPL +.36
Session Close: Wed Jul 15 11:19:52 2009
Session Start: Wed Jul 15 11:19:52 2009
Session Ident: #discussions
02[11:19] * Disconnected
02[11:22] * Attempting to rejoin channel #discussions
03[11:22] * Rejoined channel #discussions
[11:22] {Threei} what did I miss?
[11:23] {Threei} of course there is part II to that article:
[11:23] {Threei} http://www.realitytrader.com/blog/2007/04/as-you-name-boat-or-what-is-scalping_22.html
[11:24] {Threei} plus http://www.investopedia.com/articles/trading/05/scalping.asp
[11:24] {Threei} and http://traderscom.stores.yahoo.net/stcov237scas.html
[11:25] {Threei} and of course http://www.nasdaqscalper.com/faq.html
[11:32] {Threei} everyone's asleep?
[11:32] {ese} L wfc .04
[11:32] {nemo} coma
[11:32] {ese} crappy fill was going for .00
[11:34] {ese} it's shite i tell ya shite!
[11:34] {dino} out rick .37, +.17
[11:34] {nemo} shuddup and take your scalp
[11:35] {dino} out apol .48, +.18
[11:35] {ese} out wfc .10 +.06 5k
[11:35] {nemo} yeah, shite...
[11:35] {nemo} ese dcc
[11:38] {dino} yum s .50
[11:41] {Threei} I must throw in one more: http://www.realitytrader.com/blog/2007/04/death-by-thousand-cuts.html
[11:42] {dino} 8580 july high1483, 927
[11:47] {Threei} DRIV Guides Q2 "at high end" of $0.39-0.42 v $0.41e, R$95-97M v $96.4Me (from 4/29); Outsources customer service, cutting 120 jobs (8% of total workforce
[11:52] {Threei} (US) Update: California lawmakers reach budget deal - LA Times (related MUNIS EUR/USD USD/JPY USD/CHF )
[11:52] {dino} yum bstop is .61 fwiw
[11:55] {dino} sds l sm .10 stop lod
[12:04] {ese} Ok...it's lunch time pullback......time to get drunk?
[12:05] {ese} i mean it's time for lunch............
[12:05] {Threei} uh oh
[12:05] {nemo} liquid lunch
[12:05] {Threei} dp... pouring that shot of vodka in ese, we created a monster
[12:06] {wulff} spending week in Bellingham vad
[12:07] {ese} I hear it's not the end of the world there wulff but you can see it from there?
[12:07] {wulff} right over the ridge
[12:08] {ese} scalping monster hopefully
[12:09] {dino} wulff, they say beyong here there be monsters
[12:09] {Threei} probably closest point on continental US to our town, wulff
[12:09] {wulff} yup
[12:09] {Threei} lol dino
[12:09] {wulff} compared to south right now, fabulous
[12:09] {ese} hmmmmm ya...was just thinking that vad....it just might be
[12:10] {Threei} yup... looking at the map
[12:11] {wulff} coming to your esteemed town in the AM
[12:11] {Threei} to Victoria?
[12:11] {ese} today?
[12:11] {dino} yum stopped -.11
[12:11] {wulff} well either or Vancouver
[12:12] {Threei} wow... 5000-lb shark washes out on Long Island
[12:12] {ese} what day wulff?
[12:12] {wulff} THurs
[12:12] {dino} 5000 lbs?
[12:12] {dino} we're gonna need a bigger boat
[12:13] {ese} ahhhhh......for a visit or business
[12:13] {wulff} visit
[12:13] {wulff} wife's working
[12:14] {ese} coffee man!!!!! we should do coffee
[12:14] {wulff} vancouver?
[12:14] {ese} victoria
[12:14] {wulff} think the wife wants to go to Van
[12:15] {ese} next time......
[12:15] {wulff} sure
[12:16] {Threei} how many days you have in our neck of the woods?
[12:16] {Threei} if more than one, consider jumping on a ferry and visiting Victoria
[12:16] {wulff} I shall, till monday
[12:16] {wulff} been to Beuchart though
[12:17] {Threei} even quick tour of downtown and Butchart gardens will be something to remember
[12:17] {Threei} oh okay
[12:17] {wulff} got ripped at a bar across from the grand hotel
[12:19] {wulff} my .77 AAPL sell seems hasty now
[12:19] {dino} ttwo l .04
[12:21] {Threei} anyway, whistle if you decide to drop by to Victoria, we will try to get together
[12:21] {ese} count me in on that get together....
[12:22] {Threei} totally, we want you to buy coffee
[12:22] {BillyD} poor ese......
[12:22] {ese} forget the coffee.....vodka........am converted now!
[12:22] {Threei} darn dp
[12:22] {dptl} vodka??
[12:23] {Threei} [12:05] {Threei} dp... pouring that shot of vodka in ese, we created a monster
[12:23] {ese} L wfc .16 multi tasking as we speak
[12:23] {dino} you guys are making me thirsty
[12:23] {Threei} yeah, we are like pretzels
[12:23] {dino} lol good one
[12:24] {Threei} :)
[12:34] {dino} apol sm l .75
[12:37] {ese} L wfc .18 avg price .169
[12:42] {Threei} these flatline periods are so... tiresome or liberating, depnding on whether you have what to do during them
[12:42] {Threei} for those surfing porn sites during boring market (and no, I am not naming names but everyone knows anyway), it'e liberating
[12:43] {nemo} Magoo?
[12:43] {fernp} lol
[12:53] {Threei} getting ready to exit WFC ese?
[12:53] {ese} out wfc .24 +.08 10k
[12:54] {Threei} lol, how did I know
[12:54] {nemo} that's a 1:4 for ese
[12:54] {dino} wtfg es
[12:54] {Threei} wtfg?
[12:54] {dino} you know
[12:54] {nemo} yeah 3i
[12:54] {Threei} what kind of hybrid is that? :)
[12:54] {ese} hmmmmm could it be that lower high in the compx.....the litle sign of weakness
[12:55] {ese} wtfg vad.....way to f&^%&^ go
[12:55] {dino} :)
[12:55] {nemo} you left out a letter ese
[12:56] {nemo} volumes strong today
[12:56] {ese} nope...f&^%^%$&*
[13:00] {nemo} I didn't know it had 2 "%" and 2 "&" in it
[13:00] {ese} hmmmm i rather like the trading style i've become accustomed too......."My Fair Lady"....or is that i've become accustomed to her face.......
[13:00] {Threei} Treasury's Barr: Hedge funds present unknown risks (related XLF )
[13:01] {nemo} You Pygmalion you...
[13:01] {Threei} huh?
[13:01] {Threei} what;'s with this hedge funds and risk deal?
[13:01] {nemo} keeping the pressure of politicians
[13:02] {ese} unknown risks....UNKNOWN RISKS!!!!!!......wake up man!!!!
[13:04] {dino} exlp
[13:04] {ese} it's anything goes for crying out loud......they don't just trade equities....it's anything......realestate.......cars........shoes!!!!!........ interest rate swaps you name it.
[13:05] {Threei} White House: Opposed to any bil that would restore GM and Chrysler franchise units (related F.IT GMGMQ F )
[13:05] {Threei} ??
[13:06] {ese} that should tank the market nicely
[13:06] {Threei} I am lost
[13:06] {Threei} I just don't understand what they are saying today
[13:06] {Threei} anyone to translate it to english?
[13:07] {BillyD} won't help support any of their franchise dealersxzships
[13:07] {BillyD} corporate owned I believe
[13:07] {Threei} why?
[13:07] {Threei} ehat's the problem with those?
[13:08] {BillyD} like all dealerships, they are struggling anf govt probably wants the free enteerprise to use their money to make it work
[13:08] {larisa} Congress wants to overturn decision to close some dealers during bancrupctkrupcy, WH does not
[13:09] {larisa} too mant banks :)
[13:09] {larisa} bankruptcy it was
[13:10] {Threei} I guess I have trouble with the very concept of legislating these things...
[13:10] {Threei} butt out and let the market work
[13:11] {BillyD} Vad goes to Washington just like Mr. Smith
[13:11] {Threei} if there are too many dealerships, some witll go out of business
[13:11] {Threei} if there are too few new ones will spring up
[13:11] {BillyD} right, and private enterprise can take that role
[13:11] {Threei} I'd rather chase all those mr Smiths out of Washington, lol
[13:12] {BillyD} You can't do that to James Stewart....lol
[13:12] {Threei} oh, he will find someone else to mock, lol
[13:17] {Threei} WFC won't quit
[13:18] {BillyD} sure glad it got it's distribution out on our trade
[13:18] {Threei} lol
[13:21] {Threei} Long Setup: AIG .10 break
[13:21] {Threei} if stays above 14
[13:21] {nemo} is that a trade call?
[13:22] {Threei} what does it look like?
[13:22] {larisa} lol
[13:22] {Threei} Long Setup: AIG .10 break for everyone but nemo
[13:23] {nemo} I think it's listed under the Endangered Species Act
[13:33] {magoo} is AIG a call?
[13:34] {Threei} sigh
[13:35] {vinod} I just notice market is up only 190
[13:36] {vinod} You guys still harassing AIG
[13:39] {Threei} well... we have to harass something
[13:40] {vinod} you have nemo and magoo?
06[13:41] * nemo slaps nemo around a bit with a large bowl of curry
06[13:41] * nemo slaps vinod around a bit with a large bowl of curry
06[13:41] * nemo thinks I would have been fish curry
[13:41] {Threei} see? no need to harass nemo, he is on self-serve
[13:42] {vinod} I agree totally
[13:45] {_mikej} AIG break .10 means buy after it passes .10 or hits it
[13:45] {nemo} after
[13:45] {Threei} break = goes through the level
[13:45] {Threei} so .10 as an offer disappears
[13:45] {_mikej} ty
[13:45] {ese} interesting day.......just through your dart......
[13:46] {_mikej} iam in
[13:46] {nemo} I missed
[13:46] {fernp} ty Vad. I am out
[13:47] {Threei} reletnless scalper
[13:47] {Threei} +t
[13:47] {fernp} :)
[13:47] {nemo} given the range today, kinda' makes sense
[13:48] {nemo} 1:1
[13:48] {Threei} fern is taking profits with no second thought... like three profiteers in one
[13:48] {Threei} over 1:1, half out for day traders
[13:48] {Threei} out for scalpers
[13:48] {Threei} see vinod... harassment wotks :)_
[13:49] {Threei} oh boy
[13:49] {Threei} works
[13:52] {Threei} 1:2
[13:52] {Threei} 1/4 more out
[13:53] {Threei} MGM CFO: Las Vegas business tone appears to have bottomed - conf comments (10.39, 0.28, 2.77%)
[13:53] {magoo} wheres resistance aig vad
[13:54] {Threei} {AIG} I know no resiatance... resistance is useless
[13:54] {Threei} .40 magoo
[13:54] {Threei} then .60
[13:55] {nemo} Mmmmmhhhh...AIG on the 5 minute chart looks kinda like Massachusetts
[13:55] {Threei} culture quiz: where is the quote "resistance is useless" from?
[13:55] {ese} now thats funny
[13:55] {BillyD} battlestar galactica
[13:56] {nemo} "resistance is futile" Star Trek Next Generation The Borg
[13:56] {Threei} nope... older
[13:56] {nemo} whoa
[13:56] {nemo} The Prisoner?
[13:56] {Threei} hmm... maybe not older...
[13:56] {Threei} anyway... clue:
[13:56] {nemo} that's the 60's
[13:56] {Threei} ok, not older then
[13:56] {Threei} Don't Panic!
[13:57] {dino} you will be assimulated
[13:57] {Threei} Hitch Hiker's Guide...
[13:57] {nemo} 70's
[13:57] {BillyD} never watched that
[13:58] {Threei} was radio thing aired in 70s nemo?
[13:58] {Threei} it preeceeded the book
[13:58] {nemo} Ohhhhh
[13:59] {magoo} out .30 TY boss AIG
[13:59] {magoo} DL
[13:59] {Threei} welcome sir
[13:59] {Threei} who still holding 1/4, stop to .15
[14:00] {magoo} are there numbers coming
[14:00] {magoo} ??
[14:03] {Threei} no... minutes of FOMC
[14:04] {Threei} *MINUTES OF JUNE 24 FOMC MEETING: UNEMPLOYMENT COULD EXCEED 10% THIS YEAR; MOST SEE ECONOMY AS WEAK AND VULNERABLE
[14:04] {Threei} - Sees risk that rising mortgage rates may hurt housing further
[14:04] {Threei} - Sees a danger of further decline in spending
[14:04] {Threei} - Officials are split as far as inflation risks; inflation will stay low, but see less of a downside risk
[14:04] {Threei} - 2009-2010 GDP outlook improved from April
[14:04] {Threei} I love this:
[14:04] {Threei} MOST SEE ECONOMY AS WEAK AND VULNERABLE
[14:04] {Threei} meaning, there are some that see it as strong and invincible?
[14:11] {ese} hey everybody.....am outta here for the day....my son(9yrs old) and i are hitting the links....catch ya tomorow
[14:11] {dino} 8580, 1497, 931, july 1 hod
[14:11] {Threei} take care ese
[14:11] {ese} cya vad......it's actually out by your place...Glen Meadows...by the airport
[14:11] {_mikej} aig nice trade first with you tk
[14:12] {dino} have fun es
[14:12] {ese} cya dino
[14:12] {Threei} wtg mike
[14:12] {dino} gj mike
[14:18] {Threei} SQNM...
[14:23] {dino} out apol .05, +.30
[14:25] {dino} ttwo to .11
[14:26] {dino} out ttwo .11, +.07 3x
[14:32] {dino} 1489 ndx gap filled 6/12
[14:33] {nemo} looks like a 300 point day coming
[14:34] {dino} +6.1% dji, ndx, s/p since fri
[14:35] {larisa} nah, +150 closing :)
[14:35] {dino} sds l .60
[14:45] {dino} what would you do if open gapsfilled
[14:45] {Threei} buy with both hands
[14:46] {dino} why?
[14:47] {Threei} 'cause to fill this gap in remaining time it would take such sharp selling, bounce would be in order
[14:47] {dino} i would look at it as breakdown
[14:47] {Threei} after bounce, sure
[14:47] {dino} sds stopped
[14:48] {Threei} but natural support after such dramatic szelloff... clear bounce point
[14:48] {dino} i would think double top
[14:53] {Threei} are we talking about the same gap? :)
[14:54] {dino} 931 double top would say to me. todays gap yes 905
[14:55] {dptl} have a good evening all
[14:55] {Threei} take care dp
[14:55] {dino} cya dp
[15:09] {larisa} no sellers.. only scared shorts:)
[15:10] {magoo} expirations
[15:21] {magoo} CIT halt
[15:21] {BillyD} I seem to see stocks jump up before my QQQQ chart uptick
[15:21] {BillyD} you guys see the same with your indicies?
[15:22] {Threei} (US) Senator Schumer (D): Healthcare insurers should pay $75-100B for overall healthcare overhaul
[15:22] {Threei} - Cutting costs is the best way to finance healthcare overhaul. (related IYH CVH AET UNH CI HUM HNT )
[15:40] {Threei} yawn
[15:48] {dino} zzzzzzzzzzzzzzzz
[15:49] {dino} looks like we are all wrong, no 300+, no 150+, no gap fill
[15:51] {BillyD} it's like a yoyo right now
[15:58] {larisa} we still have 3 min! i am a believer :)
[15:59] {Threei} ummm
[15:59] {Threei} 1
[15:59] {Threei} believe now? :)
[15:59] {Threei} okay guys, thank you all
[15:59] {Threei} have a good evening, see you tomorrow
[15:59] {larisa} later :)
[16:02] {fernp} good nite all
[16:03] {magoo} good nite
[16:03] {Threei} CIT Halted: news pending
[16:03] {Threei} - government aid package will be announced in next 24-hours - unconfirmed report
[16:04] {magoo} any reports vad?
[16:10] {dino} gotta hop, tee time in 20
Session Time: Wed Jul 15 00:00:00 2009
[08:17] {Threei} BLTXX Baltic Dry Bulk Index +7.3%, second consecutive gain and largest gain since June 2nd
[08:23] {BillyD} morning Vad
[08:23] {Threei} Billy :)
[08:30] {Threei} JUN CONSUMER PRICE INDEX M/M: 0.7% V 0.6%E; CPI EX FOOD&ENERGY M/M: 0.2% V 0.1%E
[08:30] {Threei} JULY EMPIRE MANUFACTURING: -0.5 V -5.00E
[08:41] {fernp} good morning everybody
[08:42] {nemo} hallo
[08:42] {Threei} fern, nemo :)
[08:43] {larisa} good morning :)
[08:44] {Threei} larisa :)
[08:45] {nemo} larry :)
[08:45] {larisa} sigh
[08:52] {cosmo} "
[08:55] {cosmo} TRGT
[08:56] {Threei} 7:07:09 AM
[08:56] {Threei} Targacept TC-5214 Achieves All Primary and Secondary Outcome Measures in Phase 2b Trial
[08:56] {Threei} - Releases results from a double blind, placebo controlled, flexible dose Phase 2b clinical trial of TC-5214 as an augmentation (add-on) treatment for major depressive disorder, or MDD, in subjects who did not respond adequately to first-line treatment with citalopram alone.
[08:56] {Threei} -The results on all of the trials secondary efficacy measures, including assessments of depression, irritability, disability, cognition, severity of illness and global improvement, were also highly statistically significant in favor of TC-5214 on an intent to treat basis.
[08:56] {Threei} was hatled
[08:56] {cosmo} ...how depressing...
[08:57] {cosmo} ASML
[08:57] {cosmo} 23
[08:57] {cosmo} so far
[09:01] {Threei} OXGN to Raise $10 Million in Registered Direct Offering (1.98, 0.00, 0.00%)
[09:01] {Threei} COIN 2009 Production and Sales Increase at Converted Organics Gonzales, CA Organic Fertilizer Manufacturing Facility (1.02, 0.00, 0.00%)
[09:01] {magoo} morning
[09:01] {Threei} mags :)
[09:02] {magoo} resilient lil mkt eh?
[09:02] {Threei} COIN jumped a bit
[09:02] {Threei} FEED too
[09:03] {dino} gm all
[09:04] {Threei} dino :)
[09:05] {dino} cnbc a bit euphoric imo
[09:07] {nemo} intc and Gannett beating. If media is beating this could be a solid up day
[09:10] {cosmo} sounds violent...
[09:11] {nemo} beating earnings estimates cos...
[09:11] {cosmo} ah
[09:12] {magoo} cnbc giddy
[09:12] {magoo} expirations friday..are they gonna take them to the higher strikes dino?
[09:12] {BillyD} fyi.....can't short AIG
[09:13] {Threei} sigh
[09:13] {magoo} dam
[09:14] {dino} imo, we get one very big down day, either today or tomorrow
[09:14] {vinod} GM
[09:14] {ese} good morning
[09:14] {Threei} vinod, ese :)
[09:15] {Threei} JUNE INDUSTRIAL PRODUCTION: -0.4% V-0.6%E; CAPACITY UTILIZATION: 68.0% V 67.9%E
06[09:16] * magoo slaps Threei around a bit with a large trout
[09:16] {vinod} open high and closed at even point this is my take for today
[09:17] {nemo} big jump and FLAT
[09:17] {vinod} yes
[09:17] {nemo} MMmmmmmm...day off
[09:19] {dino} the open gaps trouble me
[09:19] {vinod} lots of short sq and lot of sell in rally
[09:19] {texus} gm
[09:19] {nemo} arguable
[09:20] {Threei} texus :)
[09:20] {Threei} we will see... this kind of gap days often resolve in dead day,
[09:20] {Threei} and sometimes in a big continuation move
[09:21] {BillyD} voulume is light on these gaps
[09:21] {nemo} get oil today too
[09:22] {vinod} last night 17K of INTC move stock up 1.20
[09:22] {dptl} good morning all
[09:22] {jfjf64} mornin
[09:23] {_johnk3} gm
[09:23] {Threei} dp, jf, john :)
[09:24] {jfjf64} anythi to watch at open vad
[09:24] {Threei} kind of "everything"
[09:24] {Threei} hate this kind of opening
[09:24] {Threei} too many things move
[09:25] {jfjf64} lk that
[09:25] {jfjf64} last 2 mornin ya been on lets get em
[09:27] {Threei} DRYS is interesting
[09:28] {Threei} WFC, 24.80 - .85 is three days high break
[09:29] {Threei} I'd really prefer some pullback at the open, consolidation, then breakouts everywhere
[09:29] {Threei} that would be perfect scenario for big continuation move
[09:29] {nemo} the old bull flag
[09:29] {Threei} breaks right out of the gate is less desirable turn of events,
[09:29] {jfjf64} couldnt agree more
[09:30] {Threei} more likely to fizzle out wuickly and leave us with no range
[09:30] {nemo} although, RIMMs been flat for the last half hour
[09:30] {nemo} so much for that
[09:30] {Threei} pullback so far
[09:31] {Threei} FITB... that stron close was a clue
[09:31] {Threei} ok... WFC
[09:31] {Threei} Long Setup: WFC .85
[09:32] {Threei} stop under .70
[09:34] {magoo} long intc .82
[09:34] {magoo} 92
[09:36] {magoo} AIG dumper
[09:37] {Threei} AIG needs a bit more selling
[09:37] {ese} out intc from 07/07 17.88 +1.03 10k
[09:37] {Threei} wtg ese
[09:37] {fernp} gj ese
06[09:37] * magoo slaps ese around a bit with a large trout
[09:37] {Threei} ok WFC, it's time
[09:37] {dino} gj es
[09:38] {ese} tks i sold 15k of it yesterday at break even i didn't want to be holding 25k through the earnings announcement
[09:38] {Threei} let's trail WFC to under .75
[09:39] {nemo} wow $ smashed
[09:40] {fernp} FITB breakin hod
[09:40] {magoo} out intc .07 2k lot
[09:41] {Threei} hmmm
[09:41] {Threei} let's trail to under .80
[09:41] {Threei} I'd expect it to be at 25 already
[09:41] {Threei} don't want to get caught into sudden downturn
[09:42] {Threei} it worked too well yesterday, maybe it's back to its old tricks
[09:45] {Threei} Short Setup: RIMM .50 break
[09:45] {Threei} half lot
[09:46] {magoo} in rimm
[09:46] {Threei} stop is self-explanatory
[09:50] {Threei} if you are very stingy, RIMM can be trailed to above .60
[09:50] {dino} yum l .00
[09:50] {Threei} loss of .45 shoudl send it down
[09:51] {Threei} ok... drop already
[09:52] {jfjf64} lets go ya dog
[09:52] {Threei} stop to above .60 for sure
[09:52] {Threei} 5 cents shy of 1:1? come on?
[09:54] {dino} bwld sm l .50
[09:54] {Threei} stop to .55
[09:56] {magoo} covered rimm .41 TY had fl
[09:56] {Threei} the easiest way would be to take smallish scalp on RIMM, yeah
[09:56] {Threei} I just think we may not get a lot of plays later on
[09:56] {Threei} so with minimal risk here want to give this one a chance
[09:56] {Threei} personal choice
[09:56] {magoo} i didnt like up move aapl
[09:56] {nemo} we're not getting much for plays now
[09:57] {Threei} nope
[09:57] {Threei} there... you were right
[09:57] {nemo} who was
[09:57] {Threei} magoo
[09:57] {magoo} aapl went ,90 area reversed..i thought oh oh
[09:57] {Threei} WFC, finbally
[09:57] {Threei} half out
[09:57] {nemo} neat spelling
[09:57] {Threei} .96
[09:58] {magoo} intc vad..may be getting bounce ready
[09:58] {nemo} is that like ferngully
[09:58] {dino} out yum .15, +.15
[09:58] {Threei} INTC, I'd prefer to see double bottom for entry
[09:59] {Threei} one more dive, into .75 roughly
[09:59] {Threei} yep, like this
[09:59] {Threei} now, .82 is long if no new low
[09:59] {Threei} with stop located right under the low of this pullback
[09:59] {Threei} see the play's structure?
[10:01] {Threei} there you go...
[10:03] {BillyD} I think I have a quote problem...
[10:03] {Threei} 1:1 for scalpers
[10:03] {fernp} ty Vad. I am out
[10:03] {Threei} :)
[10:04] {BillyD} did INTC jump from .81 to .84 bid on you Vad with no prints?
[10:04] {Threei} need quotes Billy?
[10:04] {Threei} there were prints, just too fast,
[10:04] {Threei} but then it did pullback right into .82 offer
[10:04] {Threei} and hit my bid
[10:04] {fernp} yes Bill It did it, then pullback
[10:04] {Threei} that's where I typed "there you go"
[10:04] {nemo} yeah that's how I bought
[10:04] {BillyD} ok...that helps me then
[10:05] {Threei} sorry Billy... didn't mean to be so helpful, not my nature... don't want to shock you by sudden change in my behavior pattern
[10:05] {BillyD} it's ok...I never took it that way
[10:05] {BillyD} :)
[10:05] {Threei} whew
[10:06] {BillyD} your reputation is in tact
[10:06] {Threei} now, halve a look at 1 min INTC
[10:06] {Threei} have
[10:06] {Threei} now that the play is complete, see what I envisioned making a call?
[10:06] {Threei} total textbook
[10:06] {BillyD} yew
[10:06] {BillyD} yesw
[10:06] {BillyD} yes
[10:07] {Threei} oh good
[10:07] {nemo} perfect spot to plug TTR
[10:07] {jfjf64} that was great read
[10:07] {Threei} right typing of the three-letter word on a third try - true mark of realitytrader
[10:07] {_mikej} are you still in wfc
[10:07] {Threei} half
[10:07] {Threei} [09:57] {Threei} WFC, finbally
[10:07] {Threei} [09:57] {Threei} half out
[10:07] {Threei} [09:57] {nemo} neat spelling
[10:07] {Threei} [09:57] {Threei} .96
[10:08] {Threei} btw... thanks for reminding me, stop to under .85
[10:08] {Threei} this thing is annoying today
[10:08] {nemo} it's been annoying every day except yesterday
[10:08] {Threei} TTR? what about it?
06[10:09] * Threei slaps nemo around a bit with a large book of Techniques of Tape Reading
[10:09] {nemo} [10:06] {&Threei} now that the play is complete, see what I envisioned making a call?
[10:09] {nemo} [10:06] {&Threei} total textbook
[10:09] {nemo} textbook{----TTR
[10:09] {nemo} :)
[10:09] {_mikej} ty
[10:09] {Threei} sure mike
[10:09] {Threei} I don't remember... there is a detailed description of how to play this one in TTR?
[10:09] {nemo} then again, Houghton Mifflin has it
[10:09] {Threei} I remember there is one in scalping course
[10:09] {nemo} not the point....hawk the book
[10:10] {Threei} ah
[10:10] {Threei} .70 break was a good trigger on RIMM for long... just hated stop being way too wide
[10:10] {nemo} o.k. "Vad Graifer's compendium of publications is a surfeit..no, treasure trove of trading nuggets..."
[10:10] {Threei} eeck
[10:10] {nemo} too much caffeine
[10:11] {magoo} saigh
[10:11] {dino} bwld stopped -.30
[10:11] {nemo} is that gaelic for something magoo?
[10:12] {Threei} AMZN...
[10:12] {nemo} wfc looks like it might be a short
[10:12] {magoo} jpm too
[10:13] {Threei} hoped for AMZN to stay under .15 to form short setup with 83 trigger
[10:13] {Threei} ruined
[10:13] {magoo} i took it .3o
[10:13] {nemo} funny, I was loooking at it long above .22
[10:14] {Threei} that was the fade, yeah
[10:14] {magoo} shit i thought long
[10:14] {Threei} volume was abit too iffy for a call
[10:14] {nemo} what volume?
[10:14] {Threei} volume configuration did not matych long
[10:14] {magoo} out .56 TY
[10:15] {magoo} i guess lol
[10:15] {Threei} so for me it was kind of:
[10:15] {nemo} I know, I was going along with it
[10:15] {Threei} if shapes up for short, it's a call,
[10:15] {Threei} if for long, it's for your discretion
[10:15] {Threei} US Treasur'y Geithner; USD will remain principal currency; committed to strong USD
[10:15] {Threei} Preview: DOE (EIA) Petroleum Inventories due at 10:30amET
[10:15] {Threei} **consensus expectations:
[10:15] {Threei} Crude: -1.7Me
[10:15] {Threei} Gasoline: +750Ke
[10:15] {Threei} Distillate: +1.9Me
[10:16] {magoo} some numbers 10:30 correct?
[10:16] {nemo} korekt
[10:16] {Threei} move up your eyelids
[10:16] {Threei} by just couple lines
[10:16] {nemo} that says expectations Vad
[10:16] {magoo} boy..u cranky
[10:17] {nemo} me or vad?
[10:17] {magoo} vad
[10:17] {Threei} umm... and that's different from any other day how??
[10:17] {magoo} well..hows my ? any diferent?
[10:18] {Threei} what your ?
[10:18] {magoo} huh?
[10:18] {Threei} lol
[10:18] {Threei} out WFC balance
[10:18] {magoo} could u imagine magoo in your class? lol
[10:19] {Threei} sure... I will just need a taser
[10:19] {nemo} homo erectus magoous
[10:19] {magoo} short jpm .70
[10:20] {nemo} Raven-we're bad today...you'll just get disgusted
06[10:21] * magoo slaps Raven around a bit with a large trout
[10:21] {nemo} Raven's will eat trout
[10:21] {Threei} Long Setup: INTC .95 break
[10:21] {nemo} market too strong for shorts it looks like
[10:21] {Threei} scalp only
[10:22] {magoo} stopped jpm
[10:22] {Threei} stop under .90
[10:27] {Threei} no worky
[10:28] {wulff} HIG worky
[10:28] {nemo} mmmhhh think oil number bullish
[10:28] {dino} met l .70
[10:29] {Threei} HIG was pretty break...
[10:29] {Threei} missed it... you alerted about it wulff?
[10:29] {wulff} almost too pretty
[10:29] {wulff} no sorry
[10:30] {Threei} DOE CRUDE: -2.8M V -1.7ME;
[10:30] {Threei} GASOLINE: +1.44M V +750KE; DISTILLATE: +550K V +1.9ME
[10:33] {Threei} NVAX Hearing takeover chatter circulating
[10:33] {Threei} - GILD rumored as potential acquirer (14.39, 0.53, 3.82%) (related GILD )
[10:34] {wulff} out +.21
[10:38] {ese} gild L .56
[10:39] {ese} no baby...it was a good fill IT"S .55
[10:40] {Threei} market stalls...
[10:40] {BillyD} VAD..AMZN short off .40 if stays under .52
[10:40] {dino} out met flat
[10:40] {Threei} I like it
[10:41] {ese} out gild .63 +.08
[10:41] {nemo} 20k of the little buggers?
[10:42] {ese} no ....i wish 3k
[10:43] {wulff} CAT falls
[10:44] {Threei} Former Tsy Sec Paulson: BoA cancelling Merrill deal was unthinkable
[10:45] {nemo} mmmmhhhh....rimm tracking spy more than Qs
[10:46] {larisa} ese one day you have to tell the story, what made you play big size lots and how did you gain confidence doing it, had winning streak at the beginning? just interested in huge lots player mindset :) wanna be brave like you :)
[10:46] {nemo} you would have had to do alot of mind altering experimentation when you were younger Larry
[10:47] {Threei} funny Larisa - he just told this story at the dinner this very Sunday, lol
[10:47] {larisa} does not help me :)
[10:48] {Threei} hey, you were invited :)
[10:48] {larisa} lol
[10:49] {ese} hi larissa.......after watching vads scalp trading video i caught onto the trading more than 1000 sh lots.
[10:49] {BillyD} out amzn -.15
[10:49] {Threei} chop chop started
[10:49] {ese} up to then i was getting winners but had to always wait for them to make .20 or so to pay off
[10:50] {ese} it just seemed to make sense to do the larger lots depending on volume and shortter stops.
[10:50] {wulff} INTC
[10:51] {ese} I also combined that with some of financial analysis/valuations that i learned with taking the canadian securities course
[10:52] {ese} coupled that with technical analysis to get some botoms in some stocks like fitb and intc and went very large with them
[10:54] {larisa} so having 10K and 1K is the same level of pressure for you ? you trained yourself? :)
[10:54] {ese} but i don't hang around anymore when they pay off....the old es used to hang around with the swing trading i was doing and would eventually loose the profit that i made
[10:54] {ese} i guess i coupled that with vads scalping process into a system that seems to work for me
[10:55] {Threei} larisa... the idea of scalp type I is much shorter market exposure time
[10:55] {ese} yes 10k and 1k are the same
[10:55] {ese} yes tks vad.....definately much shorter exposure time
[10:55] {larisa} in my mind scalping does not mix with big lots, but rather contradicts, this is why i am asking
[10:55] {larisa} trying to understand
[10:56] {Threei} why... just opposte in fact
[10:56] {Threei} smaller stops and better risk control allow for bigger lots
[10:56] {nemo} Larry, if the volume/liquidity is sufficient, what's the problem
[10:56] {Threei} if you go for a swing trade, your stop will naturally be wider
[10:56] {ese} you can scalp big lots....but it has to be with stocks that trade basically 10,000,000shs per day
[10:56] {Threei} since ou have to base the trade on larger time frame,
[10:57] {Threei} thus more price swings are being accounted for.
[10:57] {Threei} With day trade, your stop will be narrower
[10:57] {Threei} since you look at lesser time frame charts,
[10:57] {Threei} wich allows for more shares
[10:57] {Threei} and with scalp it's being taken to the extreme
[10:58] {Threei} Liquidity must be incorporated of course
[10:58] {Threei} and that's why ese does it on such thick stocks as INTC or FITB
[10:59] {Threei} makes sense?
[11:00] {dino} apol l .39]
[11:00] {dino} .30 i mean
[11:01] {dino} rick l .20
[11:03] {larisa} it is still the most twisted style, may be you need to be a man to do it :) and musician :)
[11:03] {larisa} ty guys
[11:03] {nemo} twisted, thy name is woman
[11:03] {Threei} man, maybe... but musician is the last thing you could call me
[11:04] {Threei} I mean if I sing, people think WW3 started
[11:05] {larisa} you ever played 10k vad ?
[11:05] {Threei} sure
[11:05] {larisa} then you are musician :)
[11:06] {Threei} why then the piano locks itself up from inside when I approach...
[11:06] {BillyD} lol
[11:09] {ese} thinkin qqqq L at .82
[11:09] {ese} .62
[11:09] {wulff} me AAPL
[11:10] {Threei} http://www.realitytrader.com/blog/2007/04/as-you-name-boat-or-what-is-scalping.html
[11:10] {magoo} i thinking pullbk time
[11:10] {Threei} you'll liker the first paregraph larisa
[11:11] {Threei} ugh
[11:11] {Threei} paragraph
[11:12] {larisa} :)
[11:15] {ese} l qqqq .62
[11:17] {wulff} AAPL +.36
Session Close: Wed Jul 15 11:19:52 2009
Session Start: Wed Jul 15 11:19:52 2009
Session Ident: #discussions
02[11:19] * Disconnected
02[11:22] * Attempting to rejoin channel #discussions
03[11:22] * Rejoined channel #discussions
[11:22] {Threei} what did I miss?
[11:23] {Threei} of course there is part II to that article:
[11:23] {Threei} http://www.realitytrader.com/blog/2007/04/as-you-name-boat-or-what-is-scalping_22.html
[11:24] {Threei} plus http://www.investopedia.com/articles/trading/05/scalping.asp
[11:24] {Threei} and http://traderscom.stores.yahoo.net/stcov237scas.html
[11:25] {Threei} and of course http://www.nasdaqscalper.com/faq.html
[11:32] {Threei} everyone's asleep?
[11:32] {ese} L wfc .04
[11:32] {nemo} coma
[11:32] {ese} crappy fill was going for .00
[11:34] {ese} it's shite i tell ya shite!
[11:34] {dino} out rick .37, +.17
[11:34] {nemo} shuddup and take your scalp
[11:35] {dino} out apol .48, +.18
[11:35] {ese} out wfc .10 +.06 5k
[11:35] {nemo} yeah, shite...
[11:35] {nemo} ese dcc
[11:38] {dino} yum s .50
[11:41] {Threei} I must throw in one more: http://www.realitytrader.com/blog/2007/04/death-by-thousand-cuts.html
[11:42] {dino} 8580 july high1483, 927
[11:47] {Threei} DRIV Guides Q2 "at high end" of $0.39-0.42 v $0.41e, R$95-97M v $96.4Me (from 4/29); Outsources customer service, cutting 120 jobs (8% of total workforce
[11:52] {Threei} (US) Update: California lawmakers reach budget deal - LA Times (related MUNIS EUR/USD USD/JPY USD/CHF )
[11:52] {dino} yum bstop is .61 fwiw
[11:55] {dino} sds l sm .10 stop lod
[12:04] {ese} Ok...it's lunch time pullback......time to get drunk?
[12:05] {ese} i mean it's time for lunch............
[12:05] {Threei} uh oh
[12:05] {nemo} liquid lunch
[12:05] {Threei} dp... pouring that shot of vodka in ese, we created a monster
[12:06] {wulff} spending week in Bellingham vad
[12:07] {ese} I hear it's not the end of the world there wulff but you can see it from there?
[12:07] {wulff} right over the ridge
[12:08] {ese} scalping monster hopefully
[12:09] {dino} wulff, they say beyong here there be monsters
[12:09] {Threei} probably closest point on continental US to our town, wulff
[12:09] {wulff} yup
[12:09] {Threei} lol dino
[12:09] {wulff} compared to south right now, fabulous
[12:09] {ese} hmmmmm ya...was just thinking that vad....it just might be
[12:10] {Threei} yup... looking at the map
[12:11] {wulff} coming to your esteemed town in the AM
[12:11] {Threei} to Victoria?
[12:11] {ese} today?
[12:11] {dino} yum stopped -.11
[12:11] {wulff} well either or Vancouver
[12:12] {Threei} wow... 5000-lb shark washes out on Long Island
[12:12] {ese} what day wulff?
[12:12] {wulff} THurs
[12:12] {dino} 5000 lbs?
[12:12] {dino} we're gonna need a bigger boat
[12:13] {ese} ahhhhh......for a visit or business
[12:13] {wulff} visit
[12:13] {wulff} wife's working
[12:14] {ese} coffee man!!!!! we should do coffee
[12:14] {wulff} vancouver?
[12:14] {ese} victoria
[12:14] {wulff} think the wife wants to go to Van
[12:15] {ese} next time......
[12:15] {wulff} sure
[12:16] {Threei} how many days you have in our neck of the woods?
[12:16] {Threei} if more than one, consider jumping on a ferry and visiting Victoria
[12:16] {wulff} I shall, till monday
[12:16] {wulff} been to Beuchart though
[12:17] {Threei} even quick tour of downtown and Butchart gardens will be something to remember
[12:17] {Threei} oh okay
[12:17] {wulff} got ripped at a bar across from the grand hotel
[12:19] {wulff} my .77 AAPL sell seems hasty now
[12:19] {dino} ttwo l .04
[12:21] {Threei} anyway, whistle if you decide to drop by to Victoria, we will try to get together
[12:21] {ese} count me in on that get together....
[12:22] {Threei} totally, we want you to buy coffee
[12:22] {BillyD} poor ese......
[12:22] {ese} forget the coffee.....vodka........am converted now!
[12:22] {Threei} darn dp
[12:22] {dptl} vodka??
[12:23] {Threei} [12:05] {Threei} dp... pouring that shot of vodka in ese, we created a monster
[12:23] {ese} L wfc .16 multi tasking as we speak
[12:23] {dino} you guys are making me thirsty
[12:23] {Threei} yeah, we are like pretzels
[12:23] {dino} lol good one
[12:24] {Threei} :)
[12:34] {dino} apol sm l .75
[12:37] {ese} L wfc .18 avg price .169
[12:42] {Threei} these flatline periods are so... tiresome or liberating, depnding on whether you have what to do during them
[12:42] {Threei} for those surfing porn sites during boring market (and no, I am not naming names but everyone knows anyway), it'e liberating
[12:43] {nemo} Magoo?
[12:43] {fernp} lol
[12:53] {Threei} getting ready to exit WFC ese?
[12:53] {ese} out wfc .24 +.08 10k
[12:54] {Threei} lol, how did I know
[12:54] {nemo} that's a 1:4 for ese
[12:54] {dino} wtfg es
[12:54] {Threei} wtfg?
[12:54] {dino} you know
[12:54] {nemo} yeah 3i
[12:54] {Threei} what kind of hybrid is that? :)
[12:54] {ese} hmmmmm could it be that lower high in the compx.....the litle sign of weakness
[12:55] {ese} wtfg vad.....way to f&^%&^ go
[12:55] {dino} :)
[12:55] {nemo} you left out a letter ese
[12:56] {nemo} volumes strong today
[12:56] {ese} nope...f&^%^%$&*
[13:00] {nemo} I didn't know it had 2 "%" and 2 "&" in it
[13:00] {ese} hmmmm i rather like the trading style i've become accustomed too......."My Fair Lady"....or is that i've become accustomed to her face.......
[13:00] {Threei} Treasury's Barr: Hedge funds present unknown risks (related XLF )
[13:01] {nemo} You Pygmalion you...
[13:01] {Threei} huh?
[13:01] {Threei} what;'s with this hedge funds and risk deal?
[13:01] {nemo} keeping the pressure of politicians
[13:02] {ese} unknown risks....UNKNOWN RISKS!!!!!!......wake up man!!!!
[13:04] {dino} exlp
[13:04] {ese} it's anything goes for crying out loud......they don't just trade equities....it's anything......realestate.......cars........shoes!!!!!........ interest rate swaps you name it.
[13:05] {Threei} White House: Opposed to any bil that would restore GM and Chrysler franchise units (related F.IT GMGMQ F )
[13:05] {Threei} ??
[13:06] {ese} that should tank the market nicely
[13:06] {Threei} I am lost
[13:06] {Threei} I just don't understand what they are saying today
[13:06] {Threei} anyone to translate it to english?
[13:07] {BillyD} won't help support any of their franchise dealersxzships
[13:07] {BillyD} corporate owned I believe
[13:07] {Threei} why?
[13:07] {Threei} ehat's the problem with those?
[13:08] {BillyD} like all dealerships, they are struggling anf govt probably wants the free enteerprise to use their money to make it work
[13:08] {larisa} Congress wants to overturn decision to close some dealers during bancrupctkrupcy, WH does not
[13:09] {larisa} too mant banks :)
[13:09] {larisa} bankruptcy it was
[13:10] {Threei} I guess I have trouble with the very concept of legislating these things...
[13:10] {Threei} butt out and let the market work
[13:11] {BillyD} Vad goes to Washington just like Mr. Smith
[13:11] {Threei} if there are too many dealerships, some witll go out of business
[13:11] {Threei} if there are too few new ones will spring up
[13:11] {BillyD} right, and private enterprise can take that role
[13:11] {Threei} I'd rather chase all those mr Smiths out of Washington, lol
[13:12] {BillyD} You can't do that to James Stewart....lol
[13:12] {Threei} oh, he will find someone else to mock, lol
[13:17] {Threei} WFC won't quit
[13:18] {BillyD} sure glad it got it's distribution out on our trade
[13:18] {Threei} lol
[13:21] {Threei} Long Setup: AIG .10 break
[13:21] {Threei} if stays above 14
[13:21] {nemo} is that a trade call?
[13:22] {Threei} what does it look like?
[13:22] {larisa} lol
[13:22] {Threei} Long Setup: AIG .10 break for everyone but nemo
[13:23] {nemo} I think it's listed under the Endangered Species Act
[13:33] {magoo} is AIG a call?
[13:34] {Threei} sigh
[13:35] {vinod} I just notice market is up only 190
[13:36] {vinod} You guys still harassing AIG
[13:39] {Threei} well... we have to harass something
[13:40] {vinod} you have nemo and magoo?
06[13:41] * nemo slaps nemo around a bit with a large bowl of curry
06[13:41] * nemo slaps vinod around a bit with a large bowl of curry
06[13:41] * nemo thinks I would have been fish curry
[13:41] {Threei} see? no need to harass nemo, he is on self-serve
[13:42] {vinod} I agree totally
[13:45] {_mikej} AIG break .10 means buy after it passes .10 or hits it
[13:45] {nemo} after
[13:45] {Threei} break = goes through the level
[13:45] {Threei} so .10 as an offer disappears
[13:45] {_mikej} ty
[13:45] {ese} interesting day.......just through your dart......
[13:46] {_mikej} iam in
[13:46] {nemo} I missed
[13:46] {fernp} ty Vad. I am out
[13:47] {Threei} reletnless scalper
[13:47] {Threei} +t
[13:47] {fernp} :)
[13:47] {nemo} given the range today, kinda' makes sense
[13:48] {nemo} 1:1
[13:48] {Threei} fern is taking profits with no second thought... like three profiteers in one
[13:48] {Threei} over 1:1, half out for day traders
[13:48] {Threei} out for scalpers
[13:48] {Threei} see vinod... harassment wotks :)_
[13:49] {Threei} oh boy
[13:49] {Threei} works
[13:52] {Threei} 1:2
[13:52] {Threei} 1/4 more out
[13:53] {Threei} MGM CFO: Las Vegas business tone appears to have bottomed - conf comments (10.39, 0.28, 2.77%)
[13:53] {magoo} wheres resistance aig vad
[13:54] {Threei} {AIG} I know no resiatance... resistance is useless
[13:54] {Threei} .40 magoo
[13:54] {Threei} then .60
[13:55] {nemo} Mmmmmhhhh...AIG on the 5 minute chart looks kinda like Massachusetts
[13:55] {Threei} culture quiz: where is the quote "resistance is useless" from?
[13:55] {ese} now thats funny
[13:55] {BillyD} battlestar galactica
[13:56] {nemo} "resistance is futile" Star Trek Next Generation The Borg
[13:56] {Threei} nope... older
[13:56] {nemo} whoa
[13:56] {nemo} The Prisoner?
[13:56] {Threei} hmm... maybe not older...
[13:56] {Threei} anyway... clue:
[13:56] {nemo} that's the 60's
[13:56] {Threei} ok, not older then
[13:56] {Threei} Don't Panic!
[13:57] {dino} you will be assimulated
[13:57] {Threei} Hitch Hiker's Guide...
[13:57] {nemo} 70's
[13:57] {BillyD} never watched that
[13:58] {Threei} was radio thing aired in 70s nemo?
[13:58] {Threei} it preeceeded the book
[13:58] {nemo} Ohhhhh
[13:59] {magoo} out .30 TY boss AIG
[13:59] {magoo} DL
[13:59] {Threei} welcome sir
[13:59] {Threei} who still holding 1/4, stop to .15
[14:00] {magoo} are there numbers coming
[14:00] {magoo} ??
[14:03] {Threei} no... minutes of FOMC
[14:04] {Threei} *MINUTES OF JUNE 24 FOMC MEETING: UNEMPLOYMENT COULD EXCEED 10% THIS YEAR; MOST SEE ECONOMY AS WEAK AND VULNERABLE
[14:04] {Threei} - Sees risk that rising mortgage rates may hurt housing further
[14:04] {Threei} - Sees a danger of further decline in spending
[14:04] {Threei} - Officials are split as far as inflation risks; inflation will stay low, but see less of a downside risk
[14:04] {Threei} - 2009-2010 GDP outlook improved from April
[14:04] {Threei} I love this:
[14:04] {Threei} MOST SEE ECONOMY AS WEAK AND VULNERABLE
[14:04] {Threei} meaning, there are some that see it as strong and invincible?
[14:11] {ese} hey everybody.....am outta here for the day....my son(9yrs old) and i are hitting the links....catch ya tomorow
[14:11] {dino} 8580, 1497, 931, july 1 hod
[14:11] {Threei} take care ese
[14:11] {ese} cya vad......it's actually out by your place...Glen Meadows...by the airport
[14:11] {_mikej} aig nice trade first with you tk
[14:12] {dino} have fun es
[14:12] {ese} cya dino
[14:12] {Threei} wtg mike
[14:12] {dino} gj mike
[14:18] {Threei} SQNM...
[14:23] {dino} out apol .05, +.30
[14:25] {dino} ttwo to .11
[14:26] {dino} out ttwo .11, +.07 3x
[14:32] {dino} 1489 ndx gap filled 6/12
[14:33] {nemo} looks like a 300 point day coming
[14:34] {dino} +6.1% dji, ndx, s/p since fri
[14:35] {larisa} nah, +150 closing :)
[14:35] {dino} sds l .60
[14:45] {dino} what would you do if open gapsfilled
[14:45] {Threei} buy with both hands
[14:46] {dino} why?
[14:47] {Threei} 'cause to fill this gap in remaining time it would take such sharp selling, bounce would be in order
[14:47] {dino} i would look at it as breakdown
[14:47] {Threei} after bounce, sure
[14:47] {dino} sds stopped
[14:48] {Threei} but natural support after such dramatic szelloff... clear bounce point
[14:48] {dino} i would think double top
[14:53] {Threei} are we talking about the same gap? :)
[14:54] {dino} 931 double top would say to me. todays gap yes 905
[14:55] {dptl} have a good evening all
[14:55] {Threei} take care dp
[14:55] {dino} cya dp
[15:09] {larisa} no sellers.. only scared shorts:)
[15:10] {magoo} expirations
[15:21] {magoo} CIT halt
[15:21] {BillyD} I seem to see stocks jump up before my QQQQ chart uptick
[15:21] {BillyD} you guys see the same with your indicies?
[15:22] {Threei} (US) Senator Schumer (D): Healthcare insurers should pay $75-100B for overall healthcare overhaul
[15:22] {Threei} - Cutting costs is the best way to finance healthcare overhaul. (related IYH CVH AET UNH CI HUM HNT )
[15:40] {Threei} yawn
[15:48] {dino} zzzzzzzzzzzzzzzz
[15:49] {dino} looks like we are all wrong, no 300+, no 150+, no gap fill
[15:51] {BillyD} it's like a yoyo right now
[15:58] {larisa} we still have 3 min! i am a believer :)
[15:59] {Threei} ummm
[15:59] {Threei} 1
[15:59] {Threei} believe now? :)
[15:59] {Threei} okay guys, thank you all
[15:59] {Threei} have a good evening, see you tomorrow
[15:59] {larisa} later :)
[16:02] {fernp} good nite all
[16:03] {magoo} good nite
[16:03] {Threei} CIT Halted: news pending
[16:03] {Threei} - government aid package will be announced in next 24-hours - unconfirmed report
[16:04] {magoo} any reports vad?
[16:10] {dino} gotta hop, tee time in 20
