Oct 30 2009

Just as we thought, yesterday's strength turned out to be just a bounce. All trades worked well today, with beautiful QID setup which was explained in details starting at 11:00.

Session Time: Fri Oct 30 00:00:00 2009

[03:55] {KSystems} morning

[08:10] {Threei} US) Preview: Sept Personal Income and Personal Spending due at 8:30am

[08:11] {Threei} US) Preview: Sept PCE Core M/M, PCE Core Y/Y and PCE Deflator Y/Y due at 8:30am

[08:11] {Threei} US) Preview: Q3 Employment Cost Index expected at 8:30am

[08:11] {Threei} - consensus expectations at 0.4% v 0.4%

[08:30] {Threei} US) Q3 EMPLOYMENT COST INDEX: 0.4% V 0.4%E

[08:30] {Threei} US) SEPT PCE CORE M/M: 0.1% V 0.2%E; PCE CORE Y/Y: 1.3% V 1.3%E; PCE DEFLATOR Y/Y: -0.5% V -0.5%E

[08:37] {_Les__} Bonjour Messieurs et Madames ;)

[08:39] {Raven} interesting

[08:39] {Threei} good morning

[08:39] {Raven} T:)

[08:39] {Threei} R :)

[08:47] {_Les__} Didn't get to ask yesterday Vad. HGSI. U said trailing to .35, so effectively trailing for 1 point's movement. You saw trending good for potentially one point's movement. How?

[08:47] {Threei} huh?

[08:47] {Threei} original stop was under .30

[08:47] {_Les__} Just before system crash

[08:47] {Threei} trailing to under .35 is 5 cents

[08:47] {_Les__} Ah, that was it?

[08:48] {Threei} OK... I don't think we are on the same page

[08:48] {Threei} what does stop trailing have to do with target?

[08:49] {Threei} stop controls risk,

[08:49] {_Les__} I was watching it push through $20.35, from $19.30 (or something like that). Given lack of talk following this call, I thought U were trailing for a full point

[08:49] {Threei} at some point HGSI made a new low of the range solid enough to tighten risk

[08:50] {Threei} so that was a call for riske decrease

[08:50] {Threei} which has no correlation with target

[08:50] {Threei} so I am not sure what to make of the question framed this way

[08:51] {_Les__} sorry looking thru yesterday's blog for trade

[08:51] {Threei} I just don't want any misunderstanding about the meaning of the call and comments

[08:52] {Threei} any of those will lead to incorrect action

[08:57] {_Les__} My fault. I reviewed the log. I was cut out of further blog feed after your call "let's trail .35). When you said at 10:19 HGSI worth a try @ .41, I thought you wanted to trail to $20.35. I was impressed by your powers of prescience!

[08:58] {_Les__} HGSI topped out @ $20.33 @ 11:10. I realise now that I was no longer in the chat room

[08:58] {Threei} Les... I don't think you understand the call correctly

[08:58] {Threei} When you said at 10:19 HGSI worth a try @ .41, I thought you wanted to trail to $20.35.

[08:58] {Threei} this doesn't make sense to me

[08:59] {Threei} "worth a try at .41" - means entry

[08:59] {_Les__} that i understand

[08:59] {Threei} how does it correspond with " I thought you wanted to trail to $20.35"?? :)

[08:59] {_Les__} then you said "let's trail HGSI to .35"

[09:00] {Threei} trail refers to a stop

[09:00] {Threei} trailing stop

[09:00] {_Les__} so entry at .41. Immediately enter a trailing stop at .35. That was the call was it

[09:00] {Threei} no

[09:00] {Threei} entry at .41,

[09:00] {Threei} original stop under .30

[09:01] {Threei} [10:19] {Threei} HGSI worth a try

[09:01] {Threei} [10:19] {Threei} .41

[09:01] {Threei} [10:19] {Threei} stop under .30

[09:02] {_Les__} [10:25] {Threei} let's trail HGSI to .35

[09:02] {Threei} that's follow up 6 mionutes later

[09:02] {_Les__} so means what?

[09:02] {_Les__} .5 cent scalp?

[09:02] {Threei} [10:19] {Threei} HGSI worth a try

[09:02] {Threei} [10:19] {Threei} .41

[09:02] {Threei} [10:19] {Threei} stop under .30

[09:03] {Threei} [10:24] {Threei} market sharp drop

[09:03] {Threei} [10:25] {Threei} let's trail HGSI to .35

[09:03] {Threei} ??

[09:03] {Threei} Les... how does stop trailing translates into target??

[09:03] {lasertrev} morning

[09:03] {Threei} terv :)

[09:03] {Threei} it means trail THE STOP

[09:03] {Threei} not the exit

[09:04] {Threei} explain your thinking because I don't understand what it is that confuses you

[09:04] {Threei} stop is exit on LOSING side

[09:04] {Threei} if a trade moves against you

[09:05] {Threei} you enter long at .41,

[09:05] {Threei} your stop is under .30

[09:05] {Threei} Stock moves in your favor,

[09:05] {_Les__} you were tightening your stop?

[09:05] {Threei} at some point you are tightening the sdstop by trailing it

[09:06] {Threei} By no means this means changing the target

[09:06] {_Les__} ok. So "trail" means trailing stop. Thought you wanted to "trail" HGSI, i.e., follow it for a moment

[09:07] {_Les__} But as I said before. My blog feed was cut off at this point, so I didn't see this: [10:26] {fernp} out HGSI +.09, thanks strider, vad

[09:07] {Threei} YRCW

[09:07] {Threei} YRC Worldwide, Inc. Reports Q3 -$2.67(incl items) v -$1.70e, R$1.3B v $1.4Be; confirms in active noteholder discussions

[09:07] {Threei} - EPS included a net gain on property disposals of $.18 per share, severance charges of $.08 per share due to further headcount reductions and lease termination charges of $.11 per share related to further optimizing the networks.

[09:07] {Threei} - Been in active dialogue with noteholders, good progress made

[09:07] {_Les__} the system crashed and I didn't try to reenter. But thanks for clarifying your vocab.

[09:08] {Threei} you can always review the log after hours

[09:08] {_Les__} my bad

[09:08] {ese} well ...good morning...is anybody going to talk to me today huuuuuuuuh?

[09:09] {Threei} hmmm

[09:09] {Threei} ok... good morning ese!

[09:09] {_Les__} gm ese

[09:09] {strider} gm ese.

[09:09] {ese} morning all

[09:09] {ese} i was talking to myself yesterday for about an hour maybe longer on the board

[09:09] {ese} gave up

[09:10] {_Les__} well 3i doesn't understand me when i speak so i shall be quiet

[09:10] {strider} did you learn anything, ese?

[09:10] {Threei} lol

[09:11] {Threei} Les don't let it confuse you - I don't understand anyone

[09:11] {ese} don't know......were there problems with the chat room?

[09:11] {Threei} with mibbit ese

[09:11] {Threei} those connected through mirc were fine

[09:11] {ese} that s what i'm on.....

[09:11] {Threei} but mibbit went down for couple hours

[09:11] {ese} ahhhhhh haaaaa!

[09:12] {strider} pobrecito!

[09:12] {ese} so i'm still welcome? Thought there was a conspiracy going on

[09:12] {_Les__} I understand there's no such thing as a stupid question, only stupid people but...

[09:12] {ese} and that nemo was leading it

[09:13] {_Les__} If I theoretically touched that pretty house next to KSystems icon, could I crash the blog?

[09:14] {strider} there goes YRCW

[09:14] {Threei} Ford Motor Co Reportedly another plant (Michigan) rejects concessions by 75%

[09:14] {Threei} - Plant in Saline, Michigan voted the deal down 10/29

[09:14] {Threei} **Reminder: On 10/29 Ohio UAW transmission plant workers voted against concessions; vote 75% against

[09:14] {Threei} Wilbur Ross: commercial real estate on verge of huge crash- radio interview (related XHB )

[09:14] {Threei} oh great

[09:15] {Threei} BLTXX Baltic Dry Bulk 1% (2nd straight gain)

[09:15] {_Les__} yet F still at 7?

[09:15] {nemo} what was I leading...dude?

[09:15] {Threei} BLTXX Baltic Dry Bulk rises aprox 3% (2nd straight gain)

[09:16] {ese} the conspiracy not to talk to me on the board yestereday

[09:16] {Threei} give it up nemo, ese figured you out

[09:16] {ese} i was alone for about an hour and a bit....so i gave up

[09:16] {nemo} Is this one of your "I'm not paranoid, and anyone who thinks I am is out to get me" moments

[09:16] {ese} made a successful trade and called it quits

[09:17] {strider} There's a lesson here. Use mIRC?

[09:17] {ese} ahhhhhhh welllllllllll......i was thinking that i heard that

[09:18] {nemo} anything on watch Vad?

[09:21] {Threei} HIG...

[09:21] {Threei} JNPR

[09:22] {ese} baltic dry index should be on watch.....only a matter of time for those companies

[09:22] {ese} alex, egle, drys

[09:22] {ese} exm

[09:22] {ese} free

[09:22] {ese} gnk

[09:22] {ese} hrz,kex nm prgn

[09:22] {ese} ssw tbsi

[09:23] {dino} gm all

[09:23] {Threei} dino :)

[09:23] {ese} dino

[09:24] {Threei} fairly quiet market so far

[09:24] {Threei} not much to hang our hat on

[09:24] {Threei} let's not be in a rush

[09:24] {nemo} yeah...that's what it feels like

[09:24] {cosmo} yea...give it a couple of minutes...

[09:25] {Threei} lol

[09:25] {fernp} Good morning everybody

[09:25] {cosmo} :)

[09:25] {nemo} at least until 9:33

[09:25] {Threei} fern :)

[09:25] {dino} nvtl still beat up

[09:25] {ese} fern

[09:25] {strider} morning everyone

[09:25] {Threei} strider :)

[09:25] {strider} eye of three:)

[09:25] {ese} ST!

[09:25] {dino} aixg

[09:27] {strider} wierd one, aixg

[09:27] {Threei} did I just hear this for real

[09:27] {strider} Aixtron upgraded by JP Morgan

[09:28] {ese} hear what

[09:28] {Threei} new health care bill requires insurance companies to keep KIDS insured under parents coverage until they are 27!

[09:28] {Threei} kids??? 27???

[09:28] {ese} huh.....

[09:28] {nemo} oops...gotta' get my pacifier

[09:29] {Threei} something about this world I completely am unable to underatsnad

[09:29] {nemo} it's this country

[09:29] {dino} its a plan, if the next generation never has to grow up, the politicians win

[09:29] {Threei} grab one for me too nemo, and make sure it's properly soaked in scotch please

[09:29] {ese} same up here

[09:30] {Threei} ok.... gong

[09:31] {Threei} Preview: Oct Chicago Puchasing Managers Index due out at 9:45amET

[09:31] {Threei} **consensus expectation: 49.0e v 46.1 prior

[09:31] {Threei} - estimates range between 47 and 52.5

[09:31] {Threei} PLCM lost its mind

[09:31] {ese} TSRA dino

[09:31] {dino} played last night

[09:31] {ese} short

[09:32] {dino} y

[09:32] {ese} nice.....MSTR

[09:32] {ese} up 11pts

[09:32] {dino} strider called me a vampire

[09:32] {dino} :)

[09:32] {Threei} Long Setup: HIG .20 break if stays above .10

[09:33] {strider} I merely asked. Politely

[09:33] {dino} lol

[09:33] {ese} in

[09:35] {ese} out .29

[09:35] {ese} in .21

[09:35] {fernp} have to say "ty Vad". in .21 out .29

[09:36] {strider} oops. slippage

[09:36] {fernp} JNPR holding

[09:39] {Threei} Long Setup: CAT 57 break

[09:39] {Threei} grrr

[09:39] {Threei} too late?

[09:39] {fernp} missed

[09:39] {Threei} no chasing

[09:39] {nemo} yeah

[09:40] {strider} in

[09:40] {Threei} what price?

[09:40] {strider} 57

[09:40] {nemo} bastid

[09:40] {nemo} what

[09:40] {Threei} market drops fast

[09:40] {nemo} wht's the stop...90

[09:41] {Threei} it hit 1:1 before you even rported in, lol

[09:41] {Threei} take scalp

[09:41] {strider} out flat..

[09:41] {Threei} we have numbers in 4 min

[09:42] {dino} shaw gap fill from wed close

[09:42] {Threei} good job on entry strider but misseed exit

[09:42] {strider} futs scared me.

[09:42] {Threei} yes, but it hit .15 before futs drop

[09:42] {Threei} wtf is this

[09:42] {Threei} lol

[09:43] {fernp} don't look at CAT strider

[09:43] {Threei} seriously, what just happened?

[09:43] {strider} no t&S

[09:43] {dino} ndx green

[09:43] {Threei} 20 points jump NQ

[09:43] {strider} scerw it

[09:43] {nemo} good report

[09:43] {strider} screw

[09:43] {Threei} what report

[09:44] {nemo} the numbers in a couple of minutes

[09:44] {Threei} PMI?

[09:44] {nemo} whatever you said was coming

[09:44] {Threei} never saw it having such huge influence

[09:45] {Threei} OCT CHICAGO PURCHASING MANAGERS INDEX: 54.2 V 49.0E

[09:45] {nemo} told ya"

[09:45] {ese} i think my quotes are wrong where fitb

[09:45] {Threei} 9.17

[09:45] {ese} tks

[09:45] {nemo} see if we get sell the news

[09:46] {_Les__} good move exiting flat on CAT. Dropping .70 in such a fashion would have been nasty.

[09:46] {KSystems} michigan sentiment in 10 mins

[09:47] {_Les__} qcom

[09:48] {_Les__} sorry wrong screen

[09:48] {nemo} don't do it again...:)

[09:49] {_Les__} GILD bottoming out Vad?

[09:49] {Threei} not sure I like it

[09:50] {Threei} risk is relatively small, can try

[09:50] {Threei} 43 break

[09:50] {fernp} numbers in 5

[09:50] {Threei} consumer confidence

[09:51] {nemo} kinda' got a sell the news off that last spike

[09:51] {Threei} yup

[09:51] {Threei} Preview: Oct Final University of Michigan Confidence due out at 9:55amET

[09:51] {Threei} **consensus expectation: 70.0e v 69.4 prior

[09:51] {nemo} Having said that a retracement of yesteray, makes sense to. We've had 12%

[09:54] {Threei} let's wait this set of numbers and see if we get short play on NASDAQ

[09:54] {Threei} by going long QID

[09:55] {Threei} OCT FINAL UNIVERSITY OF MICHIGAN CONFIDENCE: 70.6 V 70.0E

[09:55] {Threei} good number

[09:55] {Threei} perfect setup if market reverses and hits low

[09:56] {Threei} pullback is too deep for a breakout play

[09:56] {Threei} rather try to catch reversal, IMO

[09:57] {Threei} 22.90 QID's low for stop placement

[09:57] {Threei} ideally, dive under 23,

[09:57] {Threei} no

[09:57] {Threei} ok, no clear entry yet

[09:59] {Threei} 09:58:39 ADMIN7 --} (All): NYSE issues streetwide - causing data problems

[09:59] {dino} seeing it

[10:00] {ese} L fitb .11

[10:00] {ese} don't try this at home

[10:00] {dino} ash

[10:01] {dino} .72 sm l

[10:01] {Threei} ok, QID 23 recross long if holding above .90

[10:02] {strider} recross what?

[10:02] {ese} out fitb .17 +.06

[10:02] {Threei} 23

[10:04] {Threei} a bit too sharp into resistance

[10:06] {Threei} ok, valid

[10:06] {Threei} Long Setup: QID 23 break if holding above .90

[10:07] {dino} esi

[10:07] {dino} missed

[10:08] {dino} good girl ash

[10:08] {ese} dino i'm thinkin 23 break on tsra

[10:09] {ese} i'll say

[10:09] {dino} ? long to 23?

[10:09] {dino} 22.50s

[10:09] {ese} break above 23

[10:09] {ese} 23.01

[10:09] {dino} ahh ok

[10:10] {ese} ahh hang on .75 may work

[10:11] {nemo} hurry up and wait market

[10:12] {Threei} after this QID play resolves one way or another, someone will have to tell me what setup I tried to play on it

[10:13] {nemo} DB

[10:13] {dino} stepping back

[10:13] {dino} we call that the all dayer vad

[10:13] {Threei} not a scalp for me

[10:13] {dino} es whats' your entry on tsra?

[10:14] {ese} nothing yet

[10:14] {dino} ok

[10:14] {ese} am now thinking L at .75

[10:15] {dino} watching trv, shaw, pru, rovi, mrvl here

[10:15] {ese} has to hold .50 though

[10:15] {dino} no go

[10:15] {ese} tsra now invalidated for me

[10:15] {dino} double bottom in making maybe on it

[10:16] {dino} cut ash .02 +.30

[10:16] {ese} nice one on ash

[10:17] {dino} ty

[10:18] {ese} looks like it could still go though

[10:18] {ese} thats a very very nice lookin bull flag

[10:19] {Threei} okay market... time to die

[10:19] {Threei} you fought well

[10:19] {dino} mkt got me out, not fighting it

[10:19] {strider} will you partial at 1:1 vad?

[10:19] {Threei} sure

[10:19] {Threei} or if it spikes through fast, a bit higher

[10:19] {Threei} sometimes QID does that

[10:20] {dino} shaw has gap around 25.80. yahoo states 25 in cash/share fwiw

[10:21] {ese} dino i've put a bstop in on ash at .11 small

[10:22] {dino} wow, idiot move, looking at acct dropping wondering why, i have all l from before vacation

[10:22] {ese} i like the way it's holding up

[10:23] {dino} ok

[10:23] {ese} is that the right symbol?

[10:24] {dino} allstate i was dumbass about

[10:24] {ese} ahhhhh it's just your acount .....dumb dumb dumb es

[10:25] {dino} have to start using postits, :)

[10:25] {dino} esi

[10:28] {strider} may be all day

[10:28] {fernp} stop still under .90, Vad?

[10:28] {dino} esi sm l .65 wide = pulp

[10:28] {Threei} it touched so close to 1:1 that can be trailed to under .95

[10:28] {Threei} kind of personal decision

[10:28] {fernp} thanks

[10:29] {Threei} chart allows for either

[10:29] {ese} ouch

[10:29] {ese} ok l esi .71

[10:29] {dino} ash sm l .01

[10:29] {ese} sm

[10:30] {ese} out esi .81

[10:30] {ese} +.10

[10:30] {dino} gj, i want a buck

[10:31] {Threei} feeling especially humble today dino?

[10:31] {dino} but of course

[10:31] {fernp} ty Vad

[10:31] {Threei} QID 1:1

[10:31] {Threei} half out, stop to under .95

[10:31] {ese} L ash .11 hit my bstop

[10:32] {Threei} don't go anywhere folks, this setup is something I want to discuss

[10:32] {ese} i'm just a small numbers guy dino

[10:32] {Threei} it's not your garden variety setup,

[10:32] {Threei} we rarely play that

[10:32] {ese} found my nich.......good enough for me

[10:33] {Threei} Market Internals update at 10:30amET

[10:33] {Threei} - NYSE volume 225M shares, about 20% below its three-month average; decliners lead advancers by 5.3:1.

[10:33] {Threei} - NASDAQ volume 435M shares, about 23% below its three-month average; decliners lead advancers by 2.3:1.

[10:33] {Threei} - VIX index +3.3 to just over 25.50

[10:33] {ese} come on ash

[10:33] {Threei} CARBX Senator Nelson on CNBC states Cap & Trade will not pass Congress this session (Update)

[10:34] {ese} it's holding up amazing against the market

[10:34] {Threei} really} there is some piece of idiocy they do not intend to push through in a hurry?

[10:34] {ese} there she blows

[10:34] {dino} pcln breaking 50 sma

[10:35] {dino} tsra

[10:35] {ese} auch du miya.....ash

[10:35] {Threei} QID stop to under 23

[10:37] {dino} sm l ..05 tsra stop lod

[10:37] {strider} Vad when you buy on break of 23, e.g. 23.01, do you consider 1;1 at 23.10 or 23.11?

[10:37] {Threei} .10

[10:38] {ese} dino wheres your stop on ash

[10:38] {Threei} .11 would be exact number, but this is not a business of exact numbers

[10:38] {Threei} things have some slack

[10:38] {Threei} and since I prefer to err on a safe side...

[10:39] {dino} .73

[10:39] {ese} tks

[10:42] {dino} watching mrvl for gap fill arouind .75

[10:44] {ese} L fitb .0964

[10:44] {ese} accounting accuracy

[10:45] {nemo} no...you just like doing it

[10:45] {Threei} next portion 1 cent shy of 1:2?

[10:45] {Threei} lol

[10:46] {ese} lol

[10:47] {ese} out ash by the way .08 -.03 was driving me nuts ....don't know how dino puts up with it

[10:48] {strider} going into a range here, vad?

[10:49] {ese} hmmmm was up 600.00 in fitb....should have taken it.....less typing more trading

[10:49] {dino} stupid greed had .40 on tsra

[10:50] {dino} smaller size plays es

[10:50] {dino} hard stop it and let it trade

[10:52] {ese} ya i only had 500shs going there

[10:53] {dino} there you go, throw hard stop on and "no worries"

[10:53] {ese} speaking of greek......or is that greed. shoulda taken the 600 in fitb

[10:53] {dino} saw that

[10:54] {Threei} okay guys, quiet period,

[10:54] {Threei} so let's do two things

[10:54] {nemo} are we back to the opposable thumb conversation

[10:54] {Threei} first, for your visual pleasure, some fall photos

[10:54] {Threei} http://www.realitytrader.com/photography/

[10:55] {ese} whadaya mean quite..........i'm screaming GO FITB GO!!!!!! it's deafining on this side

[10:55] {Threei} lol

[10:56] {nemo} beautiful area

[10:56] {dino} and i'm kicking esi

[10:57] {_Les__} you're a hopeless romantic Vad :). Europe is visually stunning too right now.

[10:57] {dino} old joke, use european in sentance

[10:58] {Threei} romantic eh... this is something I hear once a decade

[10:58] {_Les__} what, from your wife or your students?

[10:58] {ese} gripping chair.....finger marks in upostery.......face turning red........absolute eminating from body motions

[10:58] {ese} terror eminating

[10:58] {dino} "excuse me, euro-peeing in my car"

[10:59] {ese} ahhhh i'm up.....thinks are fine now

[10:59] {ese} things

[10:59] {dino} cmi drop

[10:59] {dino} 4 bucks

[11:00] {Threei} okay, let's get back to that chart

[11:00] {Threei} but instead of QID look at whatever you use for NASDAQ

[11:00] {Threei} NQ, QQQQ

[11:01] {Threei} long call on QID is a short call on NASDAQ,

[11:01] {Threei} and looking at NASDAQ chart,

[11:01] {Threei} see the C&H on 1 min?

[11:01] {Threei} from 9:43 to 10:12

[11:02] {dino} esi vad

[11:02] {dino} getting close

[11:03] {Threei} anyone's alive or\ I am talking to myself?

[11:03] {fernp} I see the C&H, the one that never broke .15

[11:03] {_Les__} Vad, handle is small ascending triangle 10:03 - 10:12?

[11:03] {strider} I' m listening

[11:03] {nemo} yeah.

[11:03] {Threei} yes

[11:03] {Threei} short call on this chart is FAILURE of the C&H

[11:04] {Threei} failutre of this setup is break of the handle's low

[11:04] {Threei} and failure of the setup is a setup too

[11:04] {Threei} now, C&H is sometimes easier to see than inverse one

[11:04] {ese} lovely ...i'm up 3.49 cents

[11:04] {Threei} that's why I suggested to look at NASDAQ instead of QID

[11:05] {Threei} going back to QID, you can see invsrted C&H,

[11:05] {Threei} with handle "bottom" being broken at 23

[11:06] {Threei} to polish the setup, have a look at volume formation:

[11:06] {Threei} volume on second rise to the rim is lower than on first,

[11:07] {Threei} there is some volume increase to the bottom of the cup,

[11:07] {Threei} handle touches the rim on ever-decreasing volume

[11:07] {Threei} Just wanted to go over this since it's not every day's setup and is a tad more sophisticated than most

[11:07] {ese} hmmm would have never seen that vad

[11:08] {ese} agreed

[11:08] {Threei} Original idea comes from my strong convition that we are seeing simple bounce

[11:08] {Threei} so I was on a lookout for some fake raly attempt

[11:08] {Threei} that wouyld fool bulls

[11:08] {dino} stop esi .43, +.78

[11:08] {nemo} qid popping as you write

[11:09] {Threei} and failure of some of traditional setups is just perfect

[11:09] {ese} and so is ash......nice one dino

[11:09] {dino} ash to flat

[11:09] {dino} lucky, but thx

[11:10] {dino} ash reminds me of woodpecker joke

[11:10] {ese} ?

[11:11] {nemo} dino on a roll today

[11:11] {ese} yes he is

[11:11] {ese} joke?

[11:11] {dino} woodpecker says to his depressed woodpecker buddy, "you know what you need, a nice piece of ash"

[11:11] {_Les__} Vad, was volume key to failure?

[11:12] {ese} riiiiiiiiiiiiight

[11:12] {Raven} sigh

[11:13] {Threei} one of pieces to the mosaic

[11:14] {ese} well.........i guess the joke could have been a raven

[11:14] {nemo} nah

[11:15] {ese} ya......your right

[11:15] {dino} lol

[11:15] {Threei} now QID itself forms C&H

[11:15] {dino} thats what you hearwhen you have logger friends

[11:16] {dino} esi holds well

[11:16] {ese} was just looking at that.....almost same pattern as ash

[11:17] {ese} was thinking long at .60

[11:18] {dino} cmi strange, they luved it now hate it. beat and raised

[11:18] {ese} how long will you let ash trade dino

[11:18] {ese} you got a target

[11:18] {dino} all day unless stop hits

[11:18] {dino} 35

[11:19] {ese} fitb puts in higher low

[11:19] {dino} damn distracted cmi goes .550

[11:19] {ese} this is longer than i would normally hold this.....but it's holding up well as well

[11:19] {dino} w/o me

[11:20] {ese} higher low on the 1 min chart by the way

[11:24] {dino} cmi weaiting at .50

[11:24] {dino} waiting

[11:24] {ese} this is almost funny except for the fact that this is a serious business being up 3.49cents with the # of k's i have riding on this

[11:24] {strider} out 2nd part QID

[11:24] {Threei} QID 1:2, 1/4 more out

[11:24] {fernp} Vad, what is there in the third pic? is a flower, an insect?

[11:24] {dino} gj

[11:25] {dino} ash out flat

[11:25] {Threei} a berry

[11:25] {strider} Vad does it make sense to hold a little QID for serious market tanking?

[11:25] {Threei} one you get after wild rose bloom is over

[11:25] {dino} tsra to .99

[11:25] {Threei} [11:24] {Threei} QID 1:2, 1/4 more out

[11:25] {Threei} this is what I do

[11:26] {Threei} HGSI ignores market

[11:26] {_Les__} berry is called a rose hip - http://en.wikipedia.org/wiki/Rosehip

[11:27] {strider} So you hold part of the last 1/4?

[11:27] {Threei} that's it, thank you

[11:27] {Threei} holding last 1/4

[11:27] {strider} k

[11:27] {Threei} what's the deal with no one understanding what I say last couple days... did my English get worse?

[11:28] {Threei} nah, can't be, it was rock bottom as it was

[11:28] {ese} ddaaaaaaaaaaa!!! get up there fitb

[11:28] {strider} I was wondering if you sometimes hold part of the last 1/4 for more than 3:1

[11:30] {_Les__} Isn't Lari supposed to be policing your english? she been MIA since I signed on..

[11:30] {Threei} depends on origional number of shares

[11:30] {ese} larisa...hmmmmmm good question

[11:31] {Threei} if it's not a lot, I maay just hold last 1/4 andf trail the stop

[11:31] {Threei} if a lot, may partial more

[11:31] {dino} who are you the cat in the hat

[11:34] {dino} cmi sm l .00

[11:35] {dino} stop is .67

[11:35] {Threei} 1:3

[11:35] {Threei} make your decision, to exit in full or to trail to under .10

[11:35] {dino} tsra stopped -.06

[11:37] {dino} stopped cmi, mkt got me

[11:37] {Threei} 1:4

[11:37] {Threei} if trailing, stop to under .20

[11:37] {Threei} I am out

[11:37] {strider} out last +.41

[11:38] {strider} thx Vad

[11:38] {Threei} +.44

[11:38] {Threei} was it a beauty or was it a beauty

[11:38] {dino} wtg

[11:38] {Threei} ty

[11:38] {strider} A good lesson in patience for me.......patience, are you there? :)

[11:39] {dino} gaps ndx 1682, s/p 1042

[11:39] {strider} 1 hr. 35 min. trade

[11:39] {Threei} speaking of phootgraphy... new lens on the way, ultrawide angle

[11:39] {Threei} whole new way to see the world

[11:39] {Threei} can't wait

[11:40] {strider} Ultrawide...isn't that a Harley?

[11:40] {Threei} no

[11:40] {_Les__} fish eye! like what 8mm, 16mm?

[11:40] {Threei} not fisheye

[11:41] {Threei} 9-18 mm... in 35mm terms. 18-36

[11:42] {nemo} apol holding today dino

[11:42] {Threei} anyone but strider took whole QID move?

[11:42] {dino} watching it for esi

[11:43] {Threei} 40 cents is darn nice one on a slow day

[11:43] {dino} wed gaps on stocks are filling

[11:43] {Threei} but the best part of this play is setup itself

[11:43] {strider} HIG?

[11:43] {dino} tsra rinsed

[11:43] {Threei} it's so evilishly sophisticated

[11:43] {Threei} HIG forms breakdown

[11:44] {_Les__} in 35 mm terms? U using large/medium format camera?

[11:44] {dino} ghoulishly for the season

[11:44] {Threei} no

[11:44] {Threei} just using 35 reference for unifying the terrms

[11:45] {Threei} with all the different crops of today's sensors, need something standard to make sure we speak of the same thing

[11:45] {Threei} Short Setup: HIG .50 break

[11:45] {Threei} if stays under .85

[11:45] {Threei} .65

[11:46] {strider} crap

[11:46] {nemo} looked at mirc

[11:46] {Threei} 1:1

[11:46] {strider} how'd you get that?

[11:47] {Threei} limit .47, hit when .50 started melting, got .48

[11:48] {nemo} hah

[11:48] {nemo} fcx did the straight 45 degree up yesterday, doing the opposite today

[11:49] {Threei} btwm last photo on that page is one of rare cases when I am totally hapy with everything, hit all I wanted just right

[11:49] {Threei} colors, composition

[11:49] {Threei} direction of the shade

[11:49] {Threei} I mean this one

[11:49] {Threei} http://www.realitytrader.com/photography/uploaded_images/Backyard-party3-739608.jpg

[11:52] {nemo} aapl crashed

[11:52] {_Les__} U like form and shape do you? so do i

[11:53] {Threei} whoa

[11:53] {Threei} QID 1:7

[11:53] {Threei} that's beyond what I expected

[11:54] {nemo} quite the retracement of yesterday

[11:54] {nemo} low volume though

[11:54] {Threei} almost all of it

[11:54] {_Les__} so this is bounce or post bounce reversal? The new trend in?

[11:54] {Threei} yeah, I whish we had more volume today

[11:54] {fernp} you still in QID, Vad?

[11:54] {Threei} would givbe me more confidence in downtrend continuation

[11:55] {Threei} no fern, sold .44

[11:55] {nemo} we also talked about the aggravating sideways grind that would piss off the most people

[11:55] {dino} ndx filled

[11:55] {Threei} I doubt it's an option for the next week

[11:56] {Threei} I feel we will have some resolution

[11:56] {Threei} too much tension in the air

[11:56] {Threei} if we make new low today, it will start smeling like a quick nasty crash

[11:58] {Threei} well well well

[11:58] {Threei} guess who is on TV

[11:58] {nemo} Emily Watson?

[11:59] {Threei} wow

[11:59] {Threei} getting deeper nemo

[11:59] {nemo} I switched back today

[11:59] {dino} tsra holds the bottom well es

[11:59] {Threei} good

[11:59] {Threei} you mean I can accept a scotch from you wihout being extracareful?

[11:59] {nemo} remember...Barney's my Congressman

[11:59] {dino} shaw july gap

[12:02] {dino} history channel, hallooween

[12:03] {strider} celts & druids?

[12:05] {dino} yes

[12:05] {nemo} when it on?

[12:05] {strider} AMZN dbl bottom

[12:05] {dino} better than cnbc

[12:05] {strider} whoops.

[12:05] {dino} now nemo

[12:05] {nemo} oh

[12:06] {dino} cmi sm l .75

[12:06] {dino} stop .43

[12:07] {strider} 7% in DC betw.40-49 have HIV/AIDS

[12:07] {dino} tsra sm l .00, stop lod

[12:08] {ese} out fitb .13 +.03 and a bit

[12:09] {ese} i'm takin my 600.00 and be done with it

[12:09] {dino} gj

[12:09] {Threei} yours eh

[12:09] {ese} tks

[12:09] {Threei} let me tell ya

[12:09] {Threei} a few seconds ago it was someone's 600

[12:10] {ese} definitely....was wondering what the H was going on there

[12:10] {strider} good trades dino

[12:10] {_Les__} hey, where's my money gone on fitb?? :P

[12:11] {Threei} lwet it be a lesson... do not trade against ese

[12:11] {_Les__} a sucker born every minute. I'm shimmying up the grease pole so I'm no longer bottom of the pile...

[12:11] {_Les__} learning to shimmy

[12:14] {strider} RIMM short?

[12:14] {fernp} out here FITB from. 9.06 :)

[12:14] {Threei} hard to tell

[12:14] {ese} nice one fern

[12:15] {fernp} ty

[12:15] {Threei} if market drops sharply and RIMM gives little delay, yes, I'd go for it

[12:15] {ese} it just exploded up there

[12:15] {Threei} otherwise, no

[12:15] {strider} thx

[12:15] {Threei} (US) SEC Staff: changes the price used for oil and gas reserves

[12:15] {Threei} huh?

[12:15] {Threei} what does it mean?

[12:16] {Threei} (US) SEC Staff: issues new accounting rules for oil and gas reserves, removes exclusions for oil sands and shale gas (related USO )

[12:16] {Threei} ok... more clear

[12:16] {Threei} Market Internals update at 12:00pmET

[12:16] {Threei} - NYSE volume 390M shares, about 20% below its three-month average; decliners lead advancers by 7.4:1.

[12:16] {Threei} - NASDAQ volume 875M shares, about 13% below its three-month average; decliners lead advancers by 2.8:1.

[12:16] {Threei} - VIX index +9% to just over 27.00

[12:17] {dino} rimm entering that big gap area 48--58

[12:18] {fernp} Why have I sold FITB at .17?

[12:19] {fernp} another sleepless night....

06[12:19] * strider slaps fernp around a bit with a large trout

[12:19] {Threei} lol

[12:19] {nemo} big bid on rimm @ .23

[12:19] {nemo} eh, nevermind

[12:19] {ese} because......theres more where that came from another day

[12:20] {ese} you can bet the pros are selling into that run fern so might as well be doing it as well

[12:20] {ese} you

[12:20] {fernp} yeah, was my 1:2

[12:21] {Threei} beautiful setup you found guys

[12:22] {Threei} (almost as good as my QID)

[12:22] {ese} once your out of the mind set of....damn look at how much more money i could have made your fine

[12:22] {fernp} almost

[12:23] {ese} thats maybe the biggest thing i had to learn here........and i lucked out today.....i know this tock but still

[12:23] {ese} first opportunity.....was gone

[12:26] {Threei} sharp markety drop took RIMM with it but without little delay for entery

[12:26] {dino} out cmi .04, +.29

[12:26] {nemo} nice spelyng

[12:26] {dino} out tsra .15, =.15

[12:26] {Threei} DJI -173

[12:26] {dino} +

[12:26] {Threei} was what, about +205 yesterday?

[12:27] {dino} 9762 was wed close

[12:28] {Threei} -200

[12:28] {ese} need rimm to get down to 48/50

[12:28] {Threei} beautiful

[12:28] {nemo} 199

[12:29] {ese} 58.13 and it's gone rimm

[12:30] {strider} ese, is DRYS where you want it?

[12:30] {Threei} GERN Reaches Agreement on Clinical Hold with FDA

[12:30] {Threei} -announced the companys plan to advance clinical development of its human embryonic stem cell (hESC)... (6.18, +0.41, 7.11%) more...

[12:30] {Threei} announced the companys plan to advance clinical development of its human embryonic stem cell (hESC)-based product, GRNOPC1, for the treatment of spinal cord injury. The plan is expected to enable Geron to re-initiate the Phase I clinical trial of GRNOPC1 in patients with complete thoracic spinal cord injury and to support future expansion of the trial to patients with cervical injuries.

[12:31] {ese} nope not yet

[12:31] {ese} but i've been dabbling on the way down

[12:31] {ese} just in case

[12:33] {ese} i'd like to see it around 5.50 although it may not get there

[12:34] {ese} was in and out with 20k yesterday for +.13

[12:35] {strider} How long have you been trading?

[12:35] {dino} es like 60 years

[12:35] {ese} not long enough with vad......had i met him 10 years ago it would be my full time occupation

[12:36] {Threei} yeah, I was handsome man back then

[12:36] {Threei} oh wait... that's not what you mean

[12:36] {_Les__} 20k ese. Risk management?

[12:36] {nemo} huh?

[12:36] {nemo} who's switch hitting today?

[12:36] {ese} 2% max any day

[12:37] {nemo} rimm coming into resistance

[12:38] {_Les__} ok. trying to work out profitable means of applying 10G, but obeying for 1st time Vad's law of risk management

[12:39] {dino} shaw sm l .60

[12:42] {Threei} Iraqi Immigrant on the Run, Accused of Running over His daughter Because he Thought She Was Too Westernized

[12:43] {nemo} yeah...saw that this morning

[12:43] {Threei} Just how screwed up one must be to do this?

[12:43] {dino} messed up

[12:43] {nemo} Sharia Law...they can kill their wives and daughters under certain circumstances

[12:43] {dino} they use religion to keep their people down

[12:44] {ese} there are numerous risk management ideas les.....for me i cut it off if i loose 500.00 in any one day

[12:44] {nemo} It's their code

[12:44] {strider} HIG forming c&h

[12:45] {dino} some day the wives and daughters will organize and give some back

[12:45] {strider} pointy

[12:45] {ese} even though my 2% is between 15k and 25k

[12:45] {nemo} only, maybe, if there here, but Islamic communities are growing...Hell, the Brits decided Sharia must be considered in legal cases

[12:46] {dino} you want to stop this nonsense, tax it.

[12:47] {strider} HIG vad?

[12:48] {dino} drop

[12:48] {_Les__} honour killings different from Sharia law

[12:48] {dino} breaking support

[12:48] {KSystems} next leg

[12:49] {nemo} my timing totally off today

[12:49] {ese} was that story from canada vad?

[12:49] {strider} missed againt

[12:49] {strider} again

[12:49] {nemo} Arizona I thinnk

[12:49] {dino} shaw out flat

[12:50] {ese} because we just had one from down east......where the son and the father drove daughters and cousins into a canal and drown them

[12:51] {_Les__} AIG looking for further b/d

[12:52] {strider} missed the trigger.

[12:53] {nemo} apol finally dropped

[12:54] {Threei} I am not sure what you were looking for in HIG strider

[12:54] {Threei} you said C&H

[12:54] {_Les__} oops. AIG found support

[12:54] {_Les__} and buying volume

[12:55] {strider} cup from 11:57 to 12:29

[12:55] {strider} support of 12.265

[12:55] {Threei} oh, you mean inverse c&h

[12:55] {strider} cup was pointe.

[12:55] {strider} well, yeeeeeeessssssss

[12:56] {Threei} As if it's understood by default, lol

[12:56] {strider} Coffee hadn't been poured yet.

[12:56] {strider} so solly

[12:56] {strider} It worked, too...but once again, I missed the boat.

[12:57] {strider} I've madee a lot of theoretical money today.

[12:58] {strider} Going to the theoretical bank later.

[12:58] {dino} lol

[12:59] {Threei} where is magoo

[12:59] {Threei} I got AIG play for him

[12:59] {Threei} double bottom off .50 is dives closer to it

[12:59] {dino} what do you think, b-day finish

[12:59] {dino} feels like it

[13:00] {strider} b-day?

[13:00] {dino} -317

[13:00] {ese} maybe he thinks you don't care vad.....you know how sensitive he is

[13:01] {Threei} sensitive magoo?

[13:01] {Threei} now, that's image I need a hot iron to burn out of my mind

[13:01] {ese} lol

[13:02] {strider} where do you place a stop on the magoo dbl bottom, vad?

[13:02] {Threei} I am scared to answer that

[13:02] {Threei} Long Setup: AIG .60 break if stays above .50

[13:02] {dino} he took his son mx racing

[13:03] {nemo} what setup is this Vad? higher low

[13:03] {Threei} double bottom with higher low

[13:04] {Threei} not a scalp for me

[13:04] {Threei} 1:1

[13:04] {Threei} with any market help should be good for something above .90

[13:04] {dino} shaw again, sm l .50

[13:06] {strider} hey bk:)

[13:06] {bkhmd} hey Stride hey all

[13:06] {Threei} bk :)

[13:07] {Threei} missing good days

[13:07] {bkhmd} yes had to travel for work

[13:07] {bkhmd} today is good trading?

[13:07] {Threei} yup

[13:08] {bkhmd} wow what happened to the DOW? lol

[13:08] {fernp} missed AIG, Vad. valid entry if returns to .61?

[13:08] {strider} long shaw, .47

[13:08] {bkhmd} mostly short plays today or bounces?

[13:08] {Threei} not sure fern

[13:08] {Threei} both bk

[13:09] {Threei} short was the biggest

[13:09] {bkhmd} k i will grab the next set up

[13:09] {dino} eyes on esi

[13:10] {ese} fern.....theres the reason you did the right thing with fitb

[13:10] {Threei} CIT WSJ: Icahn will provide $1B back up line; will agree to standstill agreemenet (0.81, -0.14, -14.84%)

[13:11] {Threei} half out AIG

[13:11] {fernp} wow!, ty ese

[13:12] {ese} could be a brutal month november.....if the month goes out like this it's usually the pre curser for the next month.......is that correct?

[13:13] {Threei} no

[13:13] {dino} not this month, started 9 of 12 down from end of sept

[13:13] {dino} imo means nothing (yet)

[13:14] {ese} i'd read that somewhere...don't remember....

[13:14] {Threei} would be too easy

[13:14] {ese} althought reading 250 trading books made me no money until hooking up with you all

[13:14] {Threei} look at the last day of the month, go in that direction for the next 29 days

[13:15] {Threei} if such things worked...

[13:16] {dino} es 09-23-09- 9917, 1754, 1080; 10-02-09- 9484, 1662, 1019

[13:16] {dino} and cramer still talking how eom markups happening, not!

[13:17] {ese} went to Russells used books here a year ago and gave them 203 trading books in exchange for $125.00 credit.....that should tell you something

[13:18] {ese} kept the other 47 or so for historical reference

[13:19] {dino} trv sm l .50

[13:19] {ese} each of those books was easily over 50.00 average easilly........only have vads and one other on my trading desk now

[13:20] {dino} i still have 20

[13:20] {Threei} one other is Marx's Das Capital of course?

[13:20] {nemo} Das Kapital

[13:20] {ese} never read that one

[13:21] {nemo} I remember going to East Berlin before the Wall fell.

[13:21] {dino} or so. but the only ones that mattered, trading in the zone, vad's, and reminisses of stock operator

[13:21] {nemo} Bought an East German Economics text

[13:21] {Threei} ok... Decameron's Bocaccio then

[13:21] {nemo} First line: "Capitalism stinks, it's parasitic, and foul"

[13:22] {Threei} signed: Michael Moore

[13:22] {ese} i bought a book in Denmark......."how to drink heavily in 12 easy steps"

[13:22] {dino} and way of the turtles first half

[13:22] {_Les__} Nothing wrong with Marx's theory on Capital. He understood it well. Marx's "communist manifesto" has less oomph today

[13:23] {dino} whats wrong is assuming there is a better system

[13:23] {nemo} Mix human ego in with utopian thinking

[13:23] {Threei} yeah... as someone who actually lived in the country built on his ideas, I could list endless ways in which it was wrong :)

[13:24] {ese} agreed....thats why drinking your way through any system works well

[13:24] {_Les__} I don't confuse his understanding of capitalism and his theory of communism...

[13:24] {Threei} well, you can't separate them

[13:24] {Threei} his whole work is built on the contrast

[13:24] {Threei} this is what is wrong with capitalism, and this is how to fix it with communism

[13:25] {strider} AIG rinse

[13:25] {nemo} no rinse...just stopped

[13:25] {strider} multi-cycle rinse

[13:25] {Threei} to be precise, second half stopped breakeven

[13:26] {nemo} Now we have fasciscm run by a socialist President/Congress

[13:26] {Threei} first is out after 1:1

[13:26] {Threei} follow the routine guys

[13:26] {Threei} this is how we play them

[13:26] {Threei} never turn 1:1 play into loss

[13:26] {nemo} yes Vad...rinse is Dino's term for Vad's "rude"

[13:27] {Threei} it's still under

[13:27] {Threei} thus it's not a rinse and not rude

[13:27] {Threei} yet

[13:27] {nemo} I was commenting on the term

[13:27] {Threei} now... if it bottoms out here and goes to 35

[13:27] {Threei} that will be rude

[13:27] {nemo} that's rude

[13:27] {strider} dino you still in shaw?

[13:28] {dino} y

[13:29] {ese} Mabon Teenie Hodges said it best with a tune he co wrote with Al Green. called "Take Me Too The River" I don't why you treat me like you do.......with all of the changes that you put me though..You took my money and my cigarettes and i haven't hide nor hair of you yet.......I wanna know etc etc....Chorus....Take me to the River.....and wash me doown.......ou

[13:29] {ese} seen befor "hide"

[13:30] {nemo} took aig for a scalp under .40

[13:30] {nemo} +10

[13:30] {nemo} .10

[13:30] {nemo} 10 I'd go home

[13:30] {nemo} Vad, you haven't asked today?

[13:31] {strider} amgn big rude rinse

[13:31] {Threei} no

[13:32] {dino} shaw out +.05 trv out -.20 don't like drop

[13:32] {strider} amgn continues

[13:32] {strider} or not

[13:33] {fernp} Vad, when the trade is a "not a scalp for me" type :-). After hit 1:1, stop is raised to the entry point, or to a "tested" support level under our entry point?

[13:33] {fernp} you did that with QID this morning

[13:34] {Threei} fern, routine procedure:

[13:34] {Threei} 1:1, half out, stop to b/e

[13:34] {Threei} 1:2, 1/4 more out

[13:34] {bkhmd} Fern I have same question but didnt want t o get Fish on face

[13:34] {bkhmd} lol

[13:34] {dino} 400 pts has been normal pullback dji, we are there

[13:34] {fernp} ok. keep it simple

[13:35] {bkhmd} thanks for clarification

06[13:35] * nemo slaps bkhmd around a bit with a large trout

[13:35] {bkhmd} I learn someting new here every day

[13:35] {bkhmd} thanks nemo

[13:35] {bkhmd} First day on board i learn how to slap somoene in face with trout

[13:36] {fernp} FITB capitulating

[13:36] {bkhmd} second day i learned had to be here 3 years b4 I can slap

[13:36] {Threei} hmmm

[13:36] {dino} lol

[13:36] {Threei} who told ou that?

[13:36] {Threei} slap him right now

[13:36] {nemo} ahh...kinda' like Social Security...raising the age

[13:36] {bkhmd} 3rd day i learned People dont like caps in name

[13:36] {bkhmd} lo

06[13:36] * strider slaps bkhmd around a bit with a large trout

[13:37] {nemo} why did trout become the fish of choice?

[13:37] {bkhmd} smells better?

[13:37] {dino} trv sm l .10

[13:37] {nemo} you ever sniff trout?

[13:37] {bkhmd} of course ow else would i know if fresh?

[13:38] {dino} had them laying in hunt club driveway

[13:38] {dino} dam broke

[13:38] {bkhmd} my guess would be not so fresh

[13:38] {bkhmd} lol

[13:38] {bkhmd} GLD wanted to make a move but then stalled

[13:39] {bkhmd} does GLD usually travel against the general market?

[13:39] {Threei} no, not lately

[13:39] {Threei} mostly moves with market

[13:39] {Threei} and both move against USD

[13:39] {dino} cmi sm l .65

[13:40] {Threei} but I feel for a while they will decouple soon

[13:40] {dino} too soon

[13:40] {dino} gld contrary $ lately

[13:40] {bkhmd} Vad what are you using to track the dollar? compared to which currenc

[13:40] {bkhmd} currency

[13:40] {nemo} uup

[13:40] {Threei} UUP

[13:41] {dino} extrapolate, $ is contrary to gold and stocks lately

[13:41] {nemo} read your mind Vad...disgusting

[13:41] {Threei} I don;t care about other currenies... except CAD which I want to drop dead

[13:41] {Threei} that would be FXC

[13:41] {dino} tsra holds well here es

[13:42] {dino} darn shaw tricked me

[13:43] {nemo} might want to partial cmi here dino

[13:43] {strider} +.10 trv, thanks, dino

[13:44] {dino} np

[13:44] {dino} sm nemo, want .30-.55

[13:44] {dino} should get to .15

[13:44] {dino} pattern

[13:44] {nemo} greedy long on a day like today? call you magoo

[13:44] {dino} trv should get to .50

[13:45] {dino} big difference, i'm trading 300-400 only

[13:46] {strider} HIG forming yet another REVERSE c&h

[13:46] {dino} plus nemo, i use hard stops

[13:47] {dino} cmi to b/e

[13:48] {strider} looks fore like a dbl bottom, hig?

[13:48] {strider} more

[13:49] {fernp} HIG in lunchtime is not a god candidate IMHO

[13:49] {dino} almost 2:00 pm

[13:49] {nemo} he must be mountain time

[13:50] {fernp} yeah!!!, we moved back clocks last saturday

[13:50] {fernp} GMT+1

[13:50] {nemo} not as dumb as I look...

[13:51] {nemo} then again...nobody could be THAT dumb

[13:51] {nemo} Just call me "Agarn"

[13:51] {dino} rovi holds well

[13:51] {dino} intc too

[13:51] {dino} mrvl

[13:54] {fernp} FITB breakdown?

[13:54] {dino} out cmi .85

[13:55] {dino} +.20, sometimes i expect too much nemo

[13:55] {Threei} I am hesitatnt to continue playing short side fern

[13:55] {nemo} broken clock moment, dude

[13:55] {dino} lol

[13:55] {Threei} odds become increasingly worse

[13:56] {nemo} yeah, shorts are probably going to want to cover for the weekend

[13:56] {Threei} well, this logic I don't buy

[13:56] {fernp} yes i think so nemo

[13:56] {nemo} Why, they making good money today

[13:56] {Threei} yes... but

[13:56] {dino} pru gap close to filled

[13:57] {nemo} but...but...but...but...

[13:57] {Threei} to know what is more likely, shorts wanting to cover or longs wanting to get out

[13:57] {Threei} and which side will overpower the other

[13:57] {Threei} you need to know the disbalance

[13:58] {nemo} so flat for the rest of the day?

[13:58] {Threei} and if you or anyone can come up with the way to do that... Bill Gates will be your doorman

[13:58] {nemo} Let me get the chicken...

[13:58] {Threei} why flat?

[13:58] {Threei} my point is,

[13:58] {nemo} Where are those crystals?

[13:59] {Threei} whatever happens at the close,

[13:59] {Threei} the logic who is going to get out is not going to help you figure it out

[13:59] {Threei} It's false logic

[13:59] {Threei} it works only in one case:

[14:00] {Threei} when you have some strong reason to read the disbalance

[14:00] {Threei} as in:

[14:00] {Threei} longs piled up hugely,

[14:00] {Threei} there are way too many of them

[14:00] {Threei} or shorts leaned in too strongly

[14:00] {Threei} and it's not like this kind of things is obvious all the rtime

[14:00] {Threei} or even often

[14:01] {Threei} it's rare cases when you get clear read on such disbalance

[14:01] {Threei} otherwise calling reversals would be easy

[14:01] {Threei} see my point?

[14:01] {nemo} yes

[14:01] {dino} so nemo, in regards to the close or monday for that matter, you make me think of trading w/the zone, the only rule you need to get from the book, is this; "anything can happen"; therefore, no worries

[14:01] {fernp} shorted small shares FITB at .93 w/stop above .95, so I am not nervous with my position :)

[14:02] {Threei} lol fern

[14:02] {Threei} that's what I call extreme risk control

[14:02] {fernp} and easy 1:1 lol

[14:02] {Threei} rofl

[14:02] {fernp} just letting trade

[14:02] {nemo} probably cost you more to trade a share than the stop

[14:03] {ese} nnnnooooooooo rimm........you can't recover.........auch du miya

[14:04] {nemo} I almost went short at .30 about 10 minutes ago, before Vad piped up...

[14:04] {dino} affy

[14:05] {Threei} on what nemo? RIMM?

[14:05] {nemo} yes

[14:05] {nemo} CMI rinse Dino

[14:06] {nemo} it peaked above S3 then dropped and came up again on lower volume and then dropped to .15

[14:06] {dino} well, made .20 on it, but i chickened out

[14:06] {fernp} stopped FITB. I've reached my maximun daily loss :-)

[14:06] {Threei} lol

[14:06] {Threei} some recovery in progress

[14:07] {Threei} Long Setup: AIG .25 brak

[14:07] {Threei} if stays above .15

[14:08] {ese} outta here for the weekend....take care all see you in november

[14:08] {Threei} take care ese

[14:08] {ese} see ya vad

[14:08] {fernp} bye ese

[14:08] {dino} cya es

[14:08] {ese} dino fern

[14:08] {bkhmd} later ese

[14:09] {Threei} invalidated

[14:10] {fernp} HIG 24.50 break?

[14:10] {nemo} market backing off

[14:11] {nemo} Rimm coming up on VWAP just @ .72, could be a turn

[14:11] {Threei} not sure about HIG

[14:11] {Threei} Market Internals update at 2:00pmET

[14:11] {Threei} - NYSE volume 720M shares, about 5% above its three-month average; decliners lead advancers by 14.2:1.

[14:11] {Threei} - NASDAQ volume 1.51B shares, about 4% above its three-month average; decliners lead advancers by 4.1:1.

[14:11] {Threei} - VIX index +24.5% to just under 31.00

[14:22] {nemo} apple forming .20 range

[14:29] {nemo} V C&H

[14:30] {Threei} if market establishes upward direction, could be a pretty one

[14:31] {nemo} see saw right now

[14:35] {Threei} this smackdown is perfect illustration of how setup turns into trap when played against the market

[14:36] {dino} rinse market

[14:36] {fernp} was thinking the same watching V

[14:46] {dino} pru sm l .50

[14:54] {patience} .

[14:54] {Threei} Long Setup: AIG .05 break

[14:54] {Threei} if stays above .90

[14:55] {dino} lol, howards simons on real $; white house trumpeting the saving of 650,000 jobs; by similar logic i am responsible for saving the virginity of 30 million women

[14:55] {fernp} lol

[14:55] {nemo} I would have thought more in your case Dino

[14:56] {Threei} I'll take responsibility to 30 mil more dino

[14:56] {nemo} saving it Vad, not despoiling

[14:56] {Threei} between two of us, we are good humanitarians

[14:56] {dino} :)

[14:57] {nemo} volatility thy name is AIG

[14:57] {Threei} yeah

[14:57] {fernp} invalidated, no?

[14:57] {Threei} some nervous jumps everywhere

[14:57] {nemo} evil "they" manipulating the stock

[14:57] {Threei} let's better try to catch pullback

[14:58] {Threei} break is way too dangerous

[14:58] {fernp} too random and friday... Have a nice weekend everybody. See you all on monday.

[14:58] {Threei} have a good one fern

[14:59] {Threei} I'll have to leave in 30 min too to catch that torch

[14:59] {bkhmd} later fern

[14:59] {nemo} oil down $3..must be supply/demand

[15:00] {strider} are we waiting to catch a pullback? If so where?

[15:01] {Threei} I'll tell if I see it

[15:01] {strider} :)

[15:02] {dino} cya fern

[15:04] {Threei} RIMM is not dropping with market

[15:05] {Threei} gave up now

[15:05] {Threei} shorts are not in hurry to cover eh?

[15:05] {Threei} -270

[15:06] {nemo} nope...thought you didn't believe in that?

[15:06] {Threei} how's that for a bounce smackdown

[15:06] {Threei} nemo, are you completely misreading what I say or what

[15:06] {Threei} what in this made you think I believbe in it now?

[15:12] {nemo} of course...

[15:14] {nemo} frickin rimm

[15:19] {Threei} nice bounce but didn't give clear setup worth the risk

[15:19] {nemo} no

[15:24] {ese} logged in to see what was going on.....had a class cancelled.

[15:25] {Threei} because of onlympic torch??

[15:25] {ese} hmmmm maybe

[15:27] {dino} not much es

[15:29] {dino} esi sm l .75

[15:32] {Threei} okay guys... honestly, don't want anymore trade in this nervous close, it's been somewhat exhausting week

[15:32] {Threei} I believe we handled it well

[15:32] {nemo} PPT should show up at any time

[15:32] {Threei} with some days hitting 100%,

[15:32] {nemo} you had a good week

[15:32] {Threei} and generally staying on winning side except of Monday I think

[15:33] {nemo} that was flat I think

[15:33] {Threei} unless my memory fails

[15:33] {Threei} yeah, last week we had couple losing days, you are right

[15:33] {Threei} going to try and catch that torch now,

[15:33] {strider} I would be doing OK, if I can just get my executions right.

[15:33] {Threei} you have youreselves a good relaxing weekend

[15:33] {dino} wtg vad

[15:33] {strider} Still flubbing things a bit.

[15:33] {dino} u2 bro

[15:33] {Threei} ask for help next week strider?

[15:33] {bkhmd} take care Vad thanks for the lesson

[15:34] {strider} yeah.

[15:34] {Threei} if there are questions we will answer them all

[15:34] {dino} have 3 to get rid ofyet

[15:34] {Threei} wow dino... don't lose track of time :)

[15:34] {strider} I think I know what to do...just get flustered sometimes on fast stocks.

[15:34] {Threei} see you all on Monday!

[15:34] {strider} See ya.

[15:34] {bkhmd} good weekend