Nov 10 2009

After computer crash kept me away yesterday, I was extra-careful today - 5 calls, 4 wins, no runners, just scalps. Market didn't inspire for much more either spending most of the day locked in narrow range.

Session Time: Tue Nov 10 00:00:00 2009

[07:04] {BillyD} morning Vad

[07:05] {nemo} hey billyd! :)

[07:05] {BillyD} nemoooooooo

[07:05] {Threei} Good morning!

[07:05] {Threei} welcome back Billy

[07:05] {BillyD} ty, good to see you all

[07:05] {nemo} oh oh...you can see me?

[07:08] {nemo} why aig up 3$

[07:09] {BillyD} dunno

[07:09] {Threei} 5:52:49 PM

[07:09] {Threei} American International Group, Inc Moodys maintains negative outlook and current A3 ratings; says company "Should be" able to repay government loan

[07:09] {Threei} - Moodys expects that AIG should be able to repay the US government's senior secured loan and most or all of the US government's preferred stock, if the company's operations and financial markets further stabilize.

[07:09] {Threei} - Moodys added that the company's Q3 results show that its core insurance business is stabilizing.

[07:09] {Threei} **Note: The US government has invested about $121B into AIG.

[07:09] {Threei} - The government is authorized to provide up to $182B in assistance to the company.

[07:09] {Threei} this is the only thing I see

[07:10] {nemo} so there's a big "if" and it's from Moody's who were part and parcel to the ratings fraud that helped cause the debacle...I can sleep well at night

[07:10] {Les} so if it makes for some good scalps in AIG today, bring it on.

[07:10] {Les} gm

[07:11] {Threei} les :)

[07:11] {strider} He's alive!

[07:11] {strider} Vad:)

[07:11] {nemo} yes Les...I just wanted to know a reason...Kinda' like Rimm's downgrade yesterday, so of course it was up

[07:11] {Threei} I am like a bad dream strider

[07:11] {nemo} Vad the Impaler is immortal...don't forget

[07:11] {Threei} back again and again

[07:11] {nemo} more like Syphilis

[07:12] {nemo} eh...sorry...over the top

[07:12] {Threei} nah, I am not that harmful

[07:12] {Threei} BAC CEO: Ken Lewis: Crisis is abating although recovery is fragile, firm has robust capital position - investor conference comments (15.77, 0.00, 0.00%) (related XLF )

[07:13] {Threei} but yeah, I'd recommend before hitting entyer to read and think: whether it's something janitor mi8ght have to sweep

[07:13] {Threei} BLTXX Baltic Dry Bulk Index rises just under 4% (9th straight gain)

[07:14] {nemo} well, it's an improvement, kinda'...haven't done anything like that in months, and it was arguably marginally abhorrent

[07:14] {Threei} let's call it improvement in your terms

[07:14] {Threei} just to keep things in perspective

[07:14] {nemo} yes...eqzaktly

[07:17] {Les} watching BZH. Got some airtime on Bloomberg today

[07:18] {Threei} BZH Reports Q4 ex items $0.87 v -$1.24e (unclear if comp), R $377M v $338Me; New orders, backlog fall notably

[07:18] {Threei} Intends to file Form S-3 Universal Shelf registration statement

[07:18] {Threei} - Intends to file a Form S-3 Universal Shelf registration statement under which it may offer, from time to time, senior debt securities, subordinated debt securities, common stock, preferred stock, depositary shares, warrants, rights, stock purchase contracts or stock purchase units. However, the Company is not pursuing any particular offering under the registration at this time.

[07:23] {Les} sat down with bank staff today. Bear transaction looks possible now. No hurry though. Want to sharpen setup skills then entry/exits with 2 wks demo laser. give myself 1 month on paper.

[07:25] {Les} GM exec reports on Bloomberg: there's market for $60G coupe with elec. motor with 40 mile range. hmmm. I see big future for GM. Not.

[07:26] {Threei} there is market for anything...

[07:26] {Threei} question is, can company live on that market

[07:29] {Threei} so, how did you guys do yesterday while I fighting my way back from tech hell?

[07:30] {nemo} there were some pretty good scalps among the minions in the morning, and Dino was, of course, Dino.

[07:31] {Threei} cool beans

[07:31] {strider} PCLN up 25 bucks from yesterday

[07:32] {Threei} btw, the exit card from hell is to be so nasty that devil says "throw this guy out, he will corrupt all my stuff"

[07:33] {Les} ? je ne comprend pas

[07:33] {nemo} earnings les

[07:33] {Les} no, 3i's last

[07:34] {Threei} follow up to previous comment about "fighting my way back from tech hell"...

[07:34] {Threei} which in turns refers to computer crash

[07:35] {Threei} which, in case you haven't noticed, kept me out of room yesterday {G}

[07:35] {nemo} oh...we were remarkably well behaved in your absence

[07:35] {Les} oh right, a joke. sorry

[07:38] {Les} started leaving bloomberg tv on in the background to keep current on stories. Their inane chatter is driving me insane. Does anyone here keep tv on while trading?

[07:38] {nemo} not me

[07:39] {Threei} CNN, muted

[07:39] {Threei} switching tio canadian channels sometimes

[07:39] {Threei} no financial channels

[07:40] {Threei} (US) Treasury Official: Important for China to increase domestic consumption

[07:40] {Threei} yup.. let's tell them how to run their business

[07:40] {Threei} because we are so good at it

[07:41] {patience} Les, I watch BNN during the trading day...you can watch it over the internet

[07:41] {patience} i like it

[07:44] {Les} difference between BNN and CNN? One's business related and other is political. Vad, you keep an eye on breaking political stories?

[07:44] {Les} sorry, I assume that is the difference between BNN and CNN

[07:45] {Threei} that, and keeping count on TV appearances by you-know-who

[07:45] {Les} lol

[07:45] {nemo} Genvieve Bujold?

[07:45] {Threei} lol

[07:56] {Threei} (US) Senator Baucus: urges Obama to resolve concerns blocking Korea, Colombia, Panama trade deals (related USD/JPY EUR/USD )

[07:56] {fernp} Good morning everybody

[07:56] {Threei} fern :)

[07:56] {Threei} US Senate will not finish work this year on Climate Change legislation

[07:57] {Threei} one economy killing bill a year is a policy I guess

[07:58] {nemo} and next year you have the tax cut expiration

[08:00] {Les} afternoon fern. make me feel good fern. tell me its as cold and cloudy in south of spain as in switzerland...

[08:00] {nemo} yeah...right les

[08:03] {ese} good morning....vad!!!!! your back

[08:03] {fernp} Les, here we are still using air-conditioner

[08:04] {Threei} like a bad dream, ese

06[08:04] * strider slaps fernp around a bit with a large air conditioner

[08:04] {BillyD} hi ese, fern

[08:04] {fernp} it's hot here yet

[08:04] {BillyD} vad, bad PC day?

[08:04] {Threei} harddrive failure over weekend

[08:05] {BillyD} backup right?

[08:05] {Threei} yup

[08:05] {ese} billy fern......dude

[08:05] {BillyD} only positive thing out of it Vad

[08:05] {Threei} took a day to diagnose, replace, and restore all the data

[08:05] {Threei} without good backup, would be a total nightmare

[08:06] {BillyD} I replaced my hardrive a few months ago and my PC performance so much better.....386 runs like day I bought it...lol

[08:06] {Threei} lol

[08:06] {nemo} got a new squirrel for the treadmill?

[08:09] {Threei} (US) Fed's Lockhart: Overall economic picture is "quite mixed," commercial real estate problems could weaken the recovery

[08:09] {Threei} - Believes economic recovery is underway, began in summer.

[08:09] {Threei} - There are signs that conditions are improving and housing has bottomed out.

[08:10] {lasertrev} gm

[08:10] {Threei} trev :)

[08:14] {nemo} aig might go momo on us

[08:14] {Threei} I see it was quite tame yesterday

[08:15] {nemo} yes

[08:15] {larisa} gm :)

[08:15] {Threei} larisa :)

[08:15] {nemo} lari :)

[08:15] {larisa} :)

[08:15] {Threei} so, DOW made new high while NASDAQ is still under its

[08:16] {Threei} not sure what to make off it...

[08:16] {Threei} could be: Dow is easier to run, with its lesser volume

[08:16] {Threei} or

[08:16] {Threei} techs lag

[08:17] {ese} nice pcln +19.00 pts

[08:17] {dptl} good morning

[08:17] {Threei} dp :)

[08:17] {ese} ddddddpppppppp

[08:18] {dptl} :)

[08:19] {dino} gm all

[08:19] {Threei} dino :)

[08:19] {nemo} dino, dude, p

[08:19] {nemo} dp

[08:19] {dptl} :)

[08:19] {dptl} dude?

[08:19] {dptl} p

[08:19] {Les} too many smiley faces for one session. gm all.

[08:20] {Les} anything catching your eye today Vad?

[08:20] {Threei} AIG

[08:20] {nemo} aig

[08:21] {Threei} but that's not really something I am willing to jump on right away

[08:21] {ese} dino

[08:21] {Threei} it's morning voalitity is a killer

[08:21] {ese} pcln....up 20pts dino

[08:22] {dino} toughy

[08:23] {ese} my wynn position basically came out even at the end of the day yesterday avg price .49 sold at .46 -.03

[08:24] {ese} one of the few times a stock like that has not made it back to it's high of the day

[08:24] {dino} wynn = pulp

[08:24] {dino} flr interesting

[08:25] {magoo} morn

[08:25] {magoo} missed ya yesterday vad

[08:25] {Threei} magoo :)

[08:26] {ese} mags

[08:26] {dino} ubs takes wynn down to neutral

[08:26] {dino} bj to sell goldman

[08:27] {fernp} CSCO 24 break is tempting

[08:27] {nemo} rimm .35 break

[08:27] {Threei} if market starts this slow confident climb, then yeas fern,

[08:27] {Threei} just don't count on quick resolution

[08:27] {Threei} CSCO is torturer

[08:28] {fernp} thanks

[08:28] {fernp} I don't need a toturer...

[08:29] {cosmo} they have their methods, don't they...

[08:29] {ese} Q news flr dino is not that bad

[08:29] {BillyD} LVS may take 17 today

[08:30] {dino} agree es

[08:30] {nemo} hehehe rimm

[08:32] {ese} bzh L .12

[08:32] {ese} sm

[08:32] {ese} stop .06

[08:33] {Threei} Long Setup: HIG .05 break

[08:33] {Threei} if stays above .95

[08:34] {strider} in

[08:35] {dino} tol sm l .20

[08:35] {Les} late to the party. in .09

[08:36] {dino} nat sm l .25

[08:37] {Threei} Long Setup: AIG .60 break half lot

[08:37] {Threei} if stays above .40

[08:38] {Threei} HIG no worky

[08:38] {fernp} stopped HIG

[08:39] {ese} out bzh .26 +.14

[08:39] {Threei} AIG 1:1

[08:39] {fernp} ty ty AIG

[08:39] {Threei} twice??

[08:39] {Threei} lol

[08:39] {nemo} rinse on hig

[08:40] {strider} out AIG +.18

[08:40] {strider} stopped HIG -}-.10

[08:40] {Threei} I guess HIG is losing its appeal

[08:40] {fernp} yes Vad, from .62 to .80 twice

[08:41] {Threei} nice

[08:41] {Threei} wtg

[08:41] {Threei} will papertrade HIG for a while without actual calls on it

[08:41] {Threei} maybe its time to move on

[08:41] {dino} flr

[08:43] {dino} tlcr

[08:43] {Les} xlf making lower highs lower lows. not helping HIG I guess

[08:44] {strider} PCLN big pullback

[08:44] {ese} nice 2nd move bzh

[08:44] {Threei} DRYS...

[08:44] {Threei} ese, may be of interest to you

[08:44] {dino} flr sm l .25

[08:44] {ese} very

[08:44] {Threei} BLTXX 9th consecutive gain today

[08:45] {Threei} 6.36 its today's high, 6.40 yesterday

[08:45] {nemo} HIG rude

[08:45] {ese} would like to go long again just over .40

[08:45] {Threei} very

[08:46] {ese} didn't get a chance at the 5,50 level

[08:46] {ese} still have a position at .47

[08:47] {dino} flr stopped -.32

[08:48] {Threei} Fed's Lockhart: WIll not focus on employment alone; scenarios exist that could see a rate hike with high employment - comments to reports

[08:48] {Threei} yikes

[08:48] {nemo} they're saving the system, not people

[08:49] {Threei} as if system can exist without people

[08:49] {Les} out HIG average .17 +.8. ain't touching HIG again.

[08:49] {Threei} average?

[08:49] {Threei} what did you do with it?

[08:49] {Les} dumped one quarter at purchase price

[08:50] {magoo} news AMZN vad? been underperforming lasrt 2 days

[08:50] {dino} flr rinsed

[08:51] {Threei} (US) Senator Dodd (D-CT): Financial regulation bill would include a consumer protection agency that would have the power to assess fees on banks with $10B or more in assets (related XLF )

[08:51] {strider} PAAS

[08:51] {Threei} here is the only thing I see that may be AMZN problem:

[08:52] {Threei} Sunday, November 08, 2009 8:56:30 PM

[08:52] {Threei} (US) A key Supreme Court ruling is nearing which could impact industries including software - Press

[08:52] {Threei} - On Monday, the court will examine what types of inventions should be eligible for a patent.

[08:52] {Threei} - The case could undermine the legal protections for software.

[08:52] {Threei} - If the Supreme Court favors the position of the US Patent Office, it could ban patents on processes and methods of doing business, such as online shipping techniques, medical diagnostic tests and procedures for executing financial trades.

[08:52] {strider} STEC moving up

[08:52] {Threei} quite a stretch, but there is nothing else that would even include the symbol

[08:52] {Threei} Nevada reports Sept casino rev $911M, -8.9% y/y; Las Vegas strip revenue $506M, -3.6% y/y (related MGM LVS PENN MPEL BYD WYNN MNTG BYI )

[08:55] {ese} stec sure has taken a hair cut ST

[08:55] {strider} Indeed.

[08:55] {fernp} WFC pulling back

[08:55] {strider} Rumor: STEC Inc moves higher on design win speculation :theflyonthewall

[08:56] {nemo} crissakes, stec probably moving higher because it fell so far

[08:56] {strider} MYGN trying to do something

[08:57] {Threei} HGSI...

[08:58] {Threei} .80 break, for fast momo players only

[08:58] {Threei} not against the market of course, but let's use this market pullback to see how well HGSI holding

[08:59] {Threei} AIG sells off hard

[08:59] {Threei} *NOV IBD/TIPP ECONOMIC OPTIMISIM INDEX: 47.9 V 49.0E

[09:01] {dino} scanners red

[09:02] {ese} l stec .66

[09:03] {ese} stop .56

[09:04] {ese} stopped .56 -.10

[09:05] {Les} tried to short aig at .42 no fill.

[09:06] {Les} have to leave lightening quick trades to Laser me thinks

[09:06] {Threei} (US) Fed's Yellen: Fed needs to provide accommodation to support job growth; inflation likely to go lower rather than higher

[09:06] {Threei} - Housing market has stabilized, foreclosures could put fresh pressure on home prices

[09:06] {Threei} - Unemployment could stay higher for years to come

[09:06] {fernp} DRYS pathetic

[09:06] {Threei} Les... I am not sure I understand what you are doing

[09:07] {nemo} well...you think he understands? :)

[09:07] {Threei} your HIG trade was against every rule in the book

[09:07] {Les} :P

[09:07] {strider} TEVA

[09:07] {Threei} this AIG short is not making much sense eirher

[09:07] {BillyD} AIG total guess with these jumps up/down

[09:08] {nemo} hgsi..damn

[09:08] {Threei} ?

[09:08] {magoo} actually, AIG is a bounce candidate

[09:08] {Threei} it still didn't do anything

[09:08] {nemo} break of .70

[09:09] {BillyD} what entry magoo...AIG

[09:09] {ese} flr L .55

[09:10] {magoo} well when it held .50

[09:10] {magoo} so as close to .50

[09:10] {magoo} stop like .40

[09:10] {magoo} aapl too

[09:10] {magoo} same setup[

[09:10] {dino} cvs l .57

[09:10] {Threei} the best scenario for AIG would be a quick dive under .50, for double bottom

[09:11] {dino} rocking

[09:11] {Threei} HGSI, pullback close to .70 is an entry idea

[09:12] {ese} out flr .85 +.30

[09:14] {Les} H&S forming on RIMM?

[09:14] {Threei} good eye

[09:14] {Threei} yes

[09:15] {Threei} with 63 being cloest resistance

[09:16] {ese} L stec .60

[09:17] {Threei} Short Setup: RIMM .80 break half lot

[09:17] {strider} in

[09:17] {fernp} stop above 63?

[09:17] {Threei} for day traders

[09:18] {Threei} hard core scalpers can keep it .95

[09:18] {Threei} 1:1 for those pesky ones

[09:18] {fernp} ahh! ty I am out

[09:18] {Threei} lol

[09:18] {Les} quick to the chase fern

[09:18] {fernp} good read Les

[09:19] {Threei} yup, nice find

[09:19] {BillyD} out here +.15 ty

[09:19] {Threei} billy :)

[09:19] {Threei} clean formation, rare case

[09:19] {ese} anyone of you lot take that hgsi..........nice one

[09:19] {Threei} reinforced by staying put while market tried to return to high

[09:19] {strider} stopped rimm

[09:20] {Threei} no ese, couldn't find entry

[09:20] {Threei} now it pulls back to where I wanted it

[09:20] {Threei} stop under .60

[09:20] {Threei} strider... not sure I understand

[09:21] {Threei} if it was scalp, why not traking profit, and if it was a day trade - why stop if resistance at 63 is not broken

[09:21] {strider} shorted at .80 stopped at .90

[09:21] {BillyD} Vad, you in HGSI

[09:21] {ese} stec just hangin around .60......come on.....get at it

[09:21] {Threei} yes billy, .71

[09:22] {Threei} strider, if stop at .90, you had over 1:1

[09:22] {strider} did the best I could

[09:22] {Threei} but why not take scalp if you play it with scalping stop size?

[09:23] {Threei} there must be alignment between your risk and reward

[09:23] {strider} you're right, vad.

[09:23] {ese} flr tanking again dino

06[09:23] * Threei slaps strider around a bit with a large Master Profit Plan

[09:23] {Threei} double bottom RIMM, with 63 break as confirmation

[09:23] {Threei} missed it

[09:24] {dino} watching for db on it

[09:24] {ese} auch du miya!!!!! stec get up there!!!!

[09:25] {dino} esc

[09:25] {nemo} top left of keyboard dino

[09:26] {dino} roflol, took me a second

[09:26] {Threei} lol

[09:26] {Threei} you know why dino?

[09:26] {nemo} here it comes

[09:26] {dino} no

[09:26] {Threei} because you just don't expect a good joke from nemo

[09:26] {dino} lol

[09:27] {Threei} and I have to say, it's a third good one from him in just as many weeks

[09:28] {Threei} I may have to rethink my opinion on his sense of humor if he keeps it up till, say New Year

[09:28] {Threei} oh come on HGSI, just a few more cents

[09:28] {Threei} good boy

[09:28] {Threei} 1;1

[09:28] {dino} esc hl l .53

[09:29] {Threei} half out

[09:29] {Threei} scalpers take profit

[09:29] {ese} stopped stec .50 -.10 daaaaaaaaaaaa!!!!!!!!

[09:31] {Threei} second half is trailed to under .70

[09:31] {nemo} now you have an H&S on hgsi

[09:31] {Threei} nah

[09:31] {Threei} too narrow reange

[09:31] {Threei} I prefer this fpormation to be much more pronounced

[09:32] {nemo} so the left shoulder is a little impaired

[09:32] {strider} inverse c&h STEC

[09:32] {Threei} otherwise you can construct it in any accidental oscillation within narrow range

[09:32] {Threei} do this funny exercise to see what I mean

[09:33] {Threei} find any stock consolidating in narrow range, let's say 10-15 cents

[09:33] {Threei} blow up the scale of the chart

[09:33] {dino} esc out .80, +

[09:33] {Threei} and look at consolidation range trying to find patterns in it

[09:33] {Threei} you will see everything

[09:33] {Threei} C&H, H&S, whatever

[09:33] {nemo} yeah

[09:33] {Threei} and they all won't mean squat

[09:34] {dino} .27

[09:34] {nemo} tight range aig

[09:34] {dino} too many mice on my desk, +.27 hitting them while typing

[09:35] {strider} you need a cat, dino

[09:35] {dino} i need something

[09:35] {nemo} hgsi might be setting up for a short

[09:35] {ese} dino...stalking flr again at .50

[09:36] {fernp} missed HGSI, I think I was trading RIMM and forgot it... don't remember

[09:36] {fernp} I'm getting old

[09:36] {dino} hmmm

[09:36] {Threei} lol

[09:37] {dino} no worries fern, just saw i'm holding pike, forgot it

[09:37] {fernp} :)

06[09:37] * Threei renames the room into Alzheimer Galore

[09:37] {nemo} well, so much for the Saudi threat to increase production...oil up a buck again and dollar crushed

[09:37] {nemo} reminds me of a James Bond character

[09:38] {dino} dropping

[09:38] {dino} dxd l .95

[09:38] {Threei} done with HGSI second half

[09:38] {ese} i still think though that stec is good for a swing trade for a couple of points.....vads capitulation bar 4 days ago is a tell tale sign

[09:38] {Threei} MTXX Heairng shares moving higher following continued sale of Zicam as OTC (4.37, +0.24, 5.81%)

[09:39] {Threei} Market Internals update at 10:30amET

[09:39] {Threei} - NYSE volume 225M shares, about 20% below its three-month average; advancers lead decliners by 1.1:1.

[09:39] {Threei} - NASDAQ volume 480M shares, about 15% below its three-month average; advancers and decliners are about even.

[09:39] {Threei} - VIX index -1.3% to just over 22.50

[09:40] {Threei} not sure I understand this MTXX news

[09:41] {Threei} Zicam is allowed to sell by FDA again?

[09:41] {BillyD} Vad, look at EWBC short off .94

[09:41] {Threei} 'cause is yes, it should be at 10-15 in a blink of eye

[09:42] {Threei} .92 break would be a new low for EWBC

[09:42] {Les} false rumour. MTXX dropping as quickly as it rose

[09:42] {Threei} I'd prefer to short it into bounce

[09:42] {BillyD} ok, in already here

[09:43] {Threei} 13.05 resistance for stop placement then

[09:43] {BillyD} yes

[09:43] {Threei} so far so good\, 3 out of 4

[09:44] {BillyD} out +.1:1

[09:44] {Threei} EWBC going for 1:1 in a hurry

[09:44] {Threei} good one

[09:44] {BillyD} ty

[09:45] {fernp} gj Billy

[09:45] {nemo} hgsi forming tight range

[09:45] {Threei} tempted by AIG short idea

[09:46] {Threei} bounce closer to .50 would get me in

[09:46] {nemo} yeah, 37 support from yesterday

[09:46] {Threei} no bounce...

[09:46] {Threei} no biting into breakdown

[09:47] {ese} flr drifting

[09:47] {Threei} AIG is a murderer on this kind of entries 9 times out of 10

[09:47] {nemo} so...just pick the 10th

[09:47] {Threei} I am not hnting for that 1 risking to be stopped on 9

[09:47] {nemo} hgsi short

[09:49] {fernp} HIG is on loews

[09:49] {nemo} I was just setting myself up for you to lambaste me...one day off and you lose it...sheesh

[09:50] {ese} hands clenched with fervor......venom running through veins....classic revenge trade symptoms.....ese goes Long one more time STEC .20

[09:50] {Threei} I am trying on gentler softer me this week

[09:50] {strider} new fabric softener?

[09:50] {nemo} estrogen

[09:50] {Threei} no, scotch

[09:51] {Les} what's your target for RIMM Vad?

[09:51] {Threei} hmm?

[09:51] {dino} out tol -.20

[09:51] {Threei} I never called RIMM here

[09:51] {Les} I know. RIMM dropping to what in your opinion

[09:51] {Threei} I've no idea

[09:51] {Threei} I don't think in these terms Les

[09:52] {Threei} this is not my trading ap;proach at all

[09:52] {dino} out dxd .07, +.12

[09:52] {nemo} aig db?

[09:52] {Threei} I doubt it

[09:53] {Threei} AIG tends to explode upward in this kind of situations more often than not

[09:53] {nemo} is said db not dbi

[09:53] {BillyD} nice HGSI read nemo

[09:53] {nemo} ty...vad ignored me...sniff

[09:54] {Threei} hey, my gentliness and softness go just so far

[09:54] {nemo} yeah...i understand when it comes to me

[09:54] {Threei} there you go - this is how AIG short on .20 breakdown would have failed

[09:54] {nemo} I said DB=double bottom not short

[09:55] {Threei} oh

06[09:55] * nemo slaps Threei around a bit with a large READING GLASSES!!!

[09:55] {Threei} yeah... getting old... sniff sniff

[09:55] {strider} long PAAS .35 stop .29

[09:55] {nemo} rimm might be long here

[09:56] {Threei} OK, watching AIG for some kind of short formation here

[09:57] {Threei} nearest resistance ,is .65

[09:57] {Threei} if .50 is broken that is

[09:57] {Threei} need some support to form

[09:57] {Threei} to give us trigger

[09:57] {Threei} .40 seems to be it

[09:57] {Threei} Short Setup: AIG .40 break

[09:57] {Threei} stop for scalpers above .50

[09:58] {Threei} for daytraders above .65

[09:58] {dino} flr

[09:58] {dino} ash

[09:58] {magoo} see..i just think its better oddes for a bounce here

[09:58] {magoo} dont like shorts

[09:58] {strider} stopped PAAS -.09

[09:59] {strider} is AIG still valid, vad?

[10:00] {Threei} sure, same setup

[10:00] {ese} nemo....nice short on hgsi.....well done laaaaaddie!!

[10:00] {nemo} ty

[10:00] {dino} gj

[10:01] {Threei} invalidated

[10:02] {BillyD} invalidated or stopped on AIG

[10:02] {dino} flr hl l .10

[10:02] {Threei} first entry hit 1:1

[10:02] {Threei} second got invalidated

[10:02] {BillyD} ok

[10:02] {fernp} uhmmm? I grabbed +.08 in AIG

[10:02] {magoo} i took it long .30

[10:02] {Threei} if day trading entry, never hit either, prfoit target or stop

[10:02] {dino} ash hl l .53

[10:04] {magoo} trying for .70 area

[10:04] {larisa} getting confused here, vad has several entries, magoo is trading against it :)

[10:05] {nemo} what's so confusing...it's magoo...frickin' anti-christ

[10:06] {dino} put magoo on ignore

[10:06] {magoo} trev u here?

[10:06] {larisa} :)

[10:06] {magoo} out aig

[10:06] {magoo} + .23

[10:07] {BillyD} [09:00] {strider} is AIG still valid, vad?

[10:07] {BillyD} [09:00] {&Threei} sure, same setup

[10:08] {BillyD} Vad, did you mean .40 BDN was still valid....I wasn't sure if hit 1:1 yet

[10:08] {Threei} yes but it never broke .40 again, and proceeded to break .50 instead

[10:08] {nemo} I know you'd like to short Rimm into a pull back, but...

[10:09] {magoo} TREV DCC when u can

[10:09] {BillyD} got it, thought you meant to short intop the bounce

[10:09] {Threei} sometimes it's the way,

[10:09] {BillyD} right

[10:09] {Threei} but with AIG, you always have to give a bit to its natural volatility

[10:09] {magoo} tech issue TREV-a-rino:)

[10:11] {strider} My laser freezing problems seem to be gone this week. anybody else?

[10:12] {nemo} I'm still having sporadic issues with quote servers

[10:14] {magoo} ya

[10:15] {magoo} here constant, but most is our connection

[10:17] {gnslng} .

[10:17] {Threei} good point

[10:18] {Les} descending triangle in SPY forming?

[10:18] {magoo} vad, email me your excuse for yesterday ok for the file..TY

[10:19] {Threei} hmmm

[10:19] {Threei} dog ate my computer?

[10:20] {Les} :)

[10:20] {Threei} better yet... dog ripped harddrive out of my computer and ate it... it's realy strong and determined dog, you know

[10:22] {dino} ouch, thought you said your dog did not bite? that's not my dog

[10:22] {Threei} I don't have a dog

[10:23] {Threei} it's some strange dog that now and then comes in to eat my computer

[10:23] {nemo} that's a precious steinway...not anymore

[10:23] {nemo} a mere blemish on the furniture

[10:31] {magoo} i gootta rebopot

[10:32] {magoo} hopefully be back

[10:32] {nemo} sube

[10:38] {dino} tough trading here, dsl problems.

[10:40] {magoo} SIGHHHHHHH

[10:40] {magoo} untradeable

[10:40] {BillyD} sorry to hear

[10:41] {magoo} im more excited for cable guy than xmas

[10:42] {Threei} oh boy

[10:42] {Threei} lord give me power to supress 13 nasty jokes I just had coming to my mind

[10:43] {Threei} I'll limit myself to just one, and the most PC: this must be one good looking cable guy

[10:45] {strider} good lord...PCLN

[10:47] {nemo} remember when said "db" on aig, it was the "b"

[10:54] {dptl} hmm ....keep getting disconected like every 5-10 min

04[10:55] -} [dptl] PING

[10:55] {Threei} [10:55] [dptl PING reply]: 2secs

[10:55] {Threei} not stellar

[10:57] {lasertrev} magoo, got ya

[10:57] {Threei} Fed's Yellen: Would be surprised to see deflation in the US - comments to reporters

[10:58] {Threei} no really?

[10:58] {Threei} or is it just "ok, I am surprised" kind of deal

[10:58] {Threei} Fed should be monitoring asset prices for signs of a bubble - comments to reporters

[10:58] {Threei} - Fed has an important role in overseeing banks

[10:59] {fernp} Vad, when are you going to post all the photos you made yesterday?

[10:59] {nemo} nice one fern

[10:59] {Threei} (US) Senate Majority Leader Reid (D-NV): Expects Senate healthcare bill to reach the floor for debate next week

[10:59] {Threei} lol

[10:59] {fernp} direct hit

[11:00] {Threei} actually, in this crash I lost a few good ones I made of a salmon run

[11:00] {Threei} got just one or two left that I uploaded for someone

[11:01] {Threei} Market Internals update at 12:00pmET

[11:01] {Threei} - NYSE volume 430M shares, about 12% below its three-month average; decliners lead advancers by 2.4:1.

[11:01] {Threei} - NASDAQ volume 915M shares, about 8% below its three-month average; decliners lead advancers by 2.2:1.

[11:01] {Threei} - VIX index +1% to just over 23.00

[11:09] {strider} Vad, TEVA read?

[11:11] {Threei} none really

[11:11] {Threei} TEVA is rarely a readable player

[11:11] {strider} rhx

[11:12] {strider} thx

[11:18] {strider} fitb selloff

[11:19] {Threei} no fresh news on it

[11:19] {Threei} 11:29 the latest

[12:22] {strider} PCLN short?

[12:23] {Threei} chart wise yes

[12:23] {Threei} risk wise, stay the hell away

[12:23] {dptl} sigh

[12:23] {ese} hey all have to sign off....have a remembrance day ceremony to perform at.....see you tomorrow

[12:23] {Threei} take care ese

[12:23] {BillyD} bye ese

[12:23] {nemo} cya dude

[12:24] {ese} cya vad have a great rest of the day.....i'm still long stec .20 we'll see what happens

[12:24] {ese} dude3

[12:24] {ese} opps dude

[12:25] {Threei} (US) Fed's Rosengren: Fed has the tools it needs to tighten monetary policy, it is just a question of timing

[12:26] {Threei} not at the point where policy tightening is required (related EUR/USD )

[12:27] {nemo} yeah...you believe him?

[12:27] {Threei} I do

[12:27] {Threei} in this particular case at least

[12:27] {nemo} Of course, he is from the government, and he's here to help

[12:27] {Threei} they really have tools to tighten, why not\

[12:27] {Threei} they assign rate

[12:28] {Threei} and it's really a matter of timing

[12:28] {Threei} what I do question is:

[12:28] {Threei} 1. whether they have good sense of timing

[12:28] {Threei} 2. whether good timing on this is even possible

[12:29] {Threei} and 3. whenever they do it, what kind of consequences it is going to have

[12:29] {Les} spy at low of day

[12:30] {Threei} it all would be fine if economy really recovered, became scorching hot and rate hikes would become possible and easily tolerated

[12:30] {Threei} as it is, major danger is that they might find themselves being forced to hike rates

[12:30] {Threei} befofe economy is strong enough to handle it

[12:30] {nemo} yeah, depending on auction results

[12:31] {Threei} Preview Treasury's $25B 10-year note auction results due out just after 1PM ET

[12:31] {Threei} - $2B increase from the Aug auction

[12:31] {Threei} - Aug bid-to-cover ratio 2.48 with an average of 2.39 over the last 3 auctions

[12:31] {Threei} - indirect bidders took 45.7% of competitive bids at last auction with 20.9% alloted at the high

[12:31] {Threei} - the when issued yield is trading roughly in line with cash market at 3.46%

[12:31] {nemo} that's funny...I mention auction and you come up with that

[12:32] {Threei} this preview is usually posted 30 min before

[12:32] {Threei} so you just mentioned it in time

[12:32] {Threei} but these auctions is a mystery to me

[12:32] {nemo} the synchronicity

[12:32] {Threei} hey, two syllable words please

[12:33] {Threei} fire

[12:33] {Threei} deer

[12:33] {nemo} co-in-ci-dence

[12:33] {Threei} tree

[12:33] {nemo} rock

[12:33] {nemo} scotch

[12:33] {Threei} yup

[12:33] {Threei} you are getting it

[12:33] {Les} setup

[12:33] {Les} please

[12:33] {BillyD} lol

[12:34] {dino} lol blast month (10-30) treas. sec geither awarded penn national bank of chicago (obama town)w/$50m in tax credits to encourage investment in poor communities, hours later it was seized by fdic and given to us bancorp

[12:34] {Threei} Short Setup: GLD .80 break

[12:34] {dino} last

[12:34] {Threei} seriously dino??

[12:34] {dino} yes, street.com

[12:34] {strider} sttop?

[12:35] {Threei} above .90

[12:35] {nemo} invaludimated

[12:35] {strider} you mean that .90?:)

[12:35] {Threei} so Timmy didn't know FDIC was circling the bank?

[12:36] {dino} nope, seems blair decided not to mention it

[12:36] {nemo} I know you HATE zerohedge, but see their article on the FED trading desk?

[12:36] {Threei} way to manahe communications in the government

[12:36] {Threei} no, and not interested

[12:36] {nemo} actually, I like the move

[12:37] {Threei} they take too much freedom with truth

[12:37] {Threei} andf I don't HATE them, too much honor

[12:37] {Threei} I don't consider them credible

[12:37] {nemo} alright, indifferent

[12:37] {Threei} and I see the agenda clearly

[12:38] {nemo} I can see clearly now the rain is gone....

[12:38] {strider} GLD setup again?

[12:38] {Threei} guy thrown out of Wall Street for insider trading start anonymous website trying to blame Wall Street?

[12:38] {Threei} yes - if you are OK with .95 stop

[12:39] {strider} k

[12:39] {strider} are you taking it?

[12:39] {Les} $USD looks like it wants to make a break for it. Little steam train that thinks it can

[12:40] {Les} can't see GLD being good to go until Uncle buck gives the word, no?

[12:40] {Threei} I will, if it's not going over .90 anymore

[12:40] {Threei} and with stop above .90, as planned origianlly

[12:40] {Les} k

[12:40] {dino} uncle buck, lol

[12:41] {strider} Vad where will you set your entry price if it triggers?

[12:41] {Threei} .77

[12:41] {dino} short?

[12:41] {Threei} yes

[12:41] {dino} ok

[12:41] {dino} cf bit of blood

[12:41] {Threei} trigger is .90 break

[12:41] {Threei} chasing down to .77

[12:42] {strider} then as soon as you see one print at .79, you hit it?

[12:42] {Threei} right

[12:43] {strider} trigger is .90 break = ..80

[12:43] {Threei} ?

[12:43] {strider} you said trigger is .90 break.

[12:43] {Threei} oh

[12:44] {Threei} .80 of course, sorry

[12:44] {strider} in .78

[12:44] {nemo} damn, jumped my .79

[12:45] {Les} same here

[12:50] {Les} Reason Vad became independent trader and coach :) http://www.youtube.com/watch?v=RmgcbIyajQA&feature=player_embedded

[12:50] {Les} Is that you in the vid Vad?

[12:50] {Threei} do I dare to look

[12:50] {nemo} I'll let you know

[12:50] {Les} :D

[12:51] {nemo} weird

[12:51] {BillyD} roflol

[12:51] {nemo} yeah, wtf vad...go ahead...inocuous

[12:51] {Threei} oh, that's me teaching

[12:51] {nemo} oh sorry...too many syllables

[12:51] {Les} lol

[12:52] {Les} so I best not show up to the Bahamas?

[12:52] {BillyD} that was Vad saying: do you want me to make the trade for you to

[12:52] {nemo} you'd probably make good chum, Les

[12:52] {Threei} sound is low quality, you ca't hear the narration: will you ever keep your stops??

[12:53] {larisa} lol LES

[12:53] {dino} nat to b/e will not go up

[12:53] {nemo} don't encourage him

[12:53] {dino} pike out +.30

[12:53] {nemo} LISTEN....

[12:54] {Threei} come on Les, it's fun

[12:54] {nemo} I'm Captain Obnoxious around here....and don't forget it!

[12:54] {Threei} market spike

[12:55] {Threei} no news that I see... probably repositining before the auction

[12:56] {Les} sorry for any offence given

[12:57] {Les} I painfully remember playing FOMC meeting. I assume auction time is no play zone as well?

[12:57] {nemo} wfc moving up

[12:57] {BillyD} Vad, you cover any GLD at .70?

[12:57] {Threei} auctions are less volatile

[12:57] {BillyD} I did half

[12:58] {Threei} .71 billy, didn't get .70

[12:58] {nemo} tlt and tbt tend' to move a bit Les

[13:00] {Les} IO is making new highs.

[13:01] {Threei} *TREASURY'S $25B 10-YEAR NOTE AUCTION DRAWS 3.47%; BID-TO-COVER RATIO: 2.81 V 2.49 PRIOR AND 2.43 OVER THE LAST 3 AUCTIONS

[13:01] {Threei} indirect bidders take 47.3% of competitive bids

[13:01] {Threei} - 82.49% alotted at the high

[13:01] {dino} demand is strong

[13:03] {Les} yet no market reaction. Are the machines trading each other today?

[13:03] {Les} 2 days light vol...

[13:03] {dino} y

[13:03] {nemo} jeez...aig trading by appointment

[13:04] {dino} wall at .oo ash

[13:04] {Threei} it usually does that rught before exploding

[13:07] {strider} Got a serious question, Vad, I need your comments.

[13:08] {strider} I'm having trouble with the 1:1 RISK/REWARD. I shorted GLD at .78.. covered at .92. Paid commission of .0075 each way. That's a cost of .155. My reward would have been .08 less .015, or .065. This is assuming covering at .70, which you've said in the past you would call 1:1, even with slippage on entry. Now, this isn't even 1:2 reward.

[13:09] {Threei} it tagged 1:1,

[13:09] {Threei} so why do you keep the stop at its original place?

[13:09] {Threei} we trail stop after 1:1 is hit

[13:10] {Threei} slippage is slippage, you can't incorporate it in your calculations of targets since charts do not account for it

[13:10] {Threei} simply keep it within reasonable, do not chase beyond that,

[13:10] {strider} So where do you move the stop for the GLD trade?

[13:10] {Threei} and decide from the get go what it is you are after

[13:11] {Threei} if it's a scalp, take it

[13:11] {Threei} if you partial, trail

[13:11] {Threei} if a stock tagged 1:1, you hjaven't covered for some reason

[13:11] {Threei} stop must be trailed anyway

[13:11] {Threei} chart has no idea whether you are out or still holding

[13:11] {strider} trail to where?

[13:11] {Threei} to above b/e

[13:12] {Threei} to below b/e if long

[13:12] {Threei} this is standard p[rocedure

[13:12] {Threei} .70 touched, stop to above .80

[13:12] {BillyD} Vad, slippage to.77 and stop at .90 is a .13 potential loss with a potential !:1 gain of .10.....is this more of a personal discretion trade for each trader?

[13:12] {Threei} pretty much

[13:13] {Threei} and if slippage is too big, simply skip the trade

[13:13] {strider} Did you get 1:1 of GLD?

[13:13] {strider} on

[13:13] {Threei} [12:58] {Threei} .71 billy, didn't get .70

[13:13] {BillyD} I thought maybe you saw a bit more in it to account for the initial slippage.....

[13:14] {strider} where did you have your exit price set?

[13:14] {nemo} 63.20 important for RIMM methinks

[13:14] {Threei} bid .70, didn't get it,

[13:14] {Threei} canceled after little bounce and hit .71 when it returned to it but market started upticking

[13:15] {dino} out ash .83 +.309

[13:15] {magoo} how low PCLN go vad iyo?

[13:15] {Threei} no idea

[13:18] {Les} $usd index looks like its coiling like a spring. symetric triangle on 5 min. chart? b/o or b/d possibly coming.

[13:23] {nemo} nice .05 range in aig

[13:23] {Threei} lol

[13:25] {dptl} .

[13:33] {Threei} getting a feeling market is about to do something?

[13:33] {larisa} no :)

[13:33] {Threei} I do

[13:33] {Threei} or I am

[13:34] {larisa} something is not good enough. ask your feeling for detalied info :)

[13:34] {Threei} ok

[13:34] {Threei} up

[13:35] {larisa} noooo :)

[13:35] {Threei} why not?

[13:35] {nemo} charts look "up"

[13:35] {Threei} RIMM looks breaky

[13:36] {Threei} AIG starts worming its way up

[13:36] {nemo} 63.20 was important

[13:36] {dino} feels up

[13:37] {larisa} guys and their feelings..

[13:37] {larisa} -70 ending

06[13:37] * nemo slaps larisa around a bit with a large feather

[13:37] {Threei} +30

[13:37] {Threei} Long Setup: RIMM .50 break

[13:38] {Threei} late

[13:38] {nemo} yep

[13:38] {Threei} broke just when I typed

[13:38] {Threei} let's wait for pullbackl

[13:38] {Threei} yeah right RIMM says

[13:39] {BillyD} near .50?

[13:39] {Threei} yeah, with stop under .40

[13:39] {Threei} watch market for guidance

[13:41] {BillyD} tough to enter w/ mkt red bars

[13:41] {Threei} yeah

[13:44] {Threei} seems to be aiming for 64

[13:47] {strider} do you still see Rimm as a buy, or is the move over.?

[13:47] {dino} iusa

[13:47] {dino} strange

[13:47] {Threei} seems full of life to me, just don't want to go against the market...

[13:47] {Threei} tough to time

[13:51] {Threei} dino, on IUSA

[13:51] {Threei} 1:48:02 PM

[13:51] {Threei} infoUSA Inc Reportedly has attracted bidders for the company - unconfirmed report

[13:51] {Threei} - bidders reportedly include Dun & Bradstreet; Acxiom and Carlyle group

[13:51] {Threei} - Note: On 11/1 CEO Fairfield declined to comment specifically on the article speculating on whether the company was for sale, but said continually evaluating operations and prospects; CEO continued that as we announced on December 22, 2008, the Companys independent directors retained Evercore Partners as independent financial advisor to assist the Company in determining what would be in the best interests of all shareholders, and that process continues.

[13:53] {Threei} 64 on the nose

[13:57] {Threei} here is AIG spike out of nowhere

[13:57] {nemo} yeah

[13:57] {Threei} US Senator Dodd: Hoping to confirm Fed Chairman Bernanke for second term before Christmas

[14:01] {Threei} Market Internals update at 2:00pmET

[14:01] {Threei} - NYSE volume 610M shares, about 14% below its three-month average; decliners lead advancers by 2.7:1.

[14:01] {Threei} - NASDAQ volume 1.31B shares, about 10% below its three-month average; decliners lead advancers by 2.4:1.

[14:01] {Threei} - VIX index +1% to just over 23.00

[14:09] {BillyD} ..

[14:11] {Threei} BIOS

[14:12] {Threei} remember swing trade call?

[14:12] {Threei} who am I talking too... Alzheimer Galore

[14:12] {nemo} it was mentioned yesterday in the room

[14:13] {Threei} wow, really?

[14:13] {Threei} you mean...

[14:13] {Threei} yuou mwan...

[14:13] {nemo} I'm not kidding

[14:13] {Threei} you mean... someone's paying attention?

[14:13] {nemo} Vad, you alright? Wake up? Come to man!

[14:14] {Threei} I need something strong

[14:14] {Threei} 96% acogol will do

[14:14] {Threei} alcohol too

[14:16] {larisa} fern remembers your swing calls :)

[14:16] {dino} in all fairness, vad you weren't here, so we paid attention

[14:16] {larisa} lol

06[14:16] * Threei starts a new list: People who pay attention to me, and puts fern on top

[14:17] {dino} as for alcohol, funny, i was just walking up the street thinking about having a few beers tonight

[14:17] {Threei} I really needed some yesterday

[14:18] {Threei} but allowed myself some only around 8 pm, when things started working

[14:19] {nemo} 8 your time or mine

[14:20] {Threei} mine... why would I go of your time

[14:20] {nemo} you could drink earlier

[14:21] {nemo} Always my excuse when I drink before noon...it's after lunch somewhere

[14:21] {Threei} makes sense

[14:21] {nemo} which should scare you

[14:22] {Threei} Most Americans Favor Big-Screen TVs Over Energy Conservation

[14:22] {Threei} okay...

[14:23] {nemo} all's right with the world

[14:23] {Threei} yeah, I would seriously worry about nation mental health if it were other way around

[14:23] {dino} good to see that

[14:24] {strider} But think of all that energy you're saving while sitting on the couch watchin g the big screen TV

[14:24] {Threei} yes, I am a well known fighter against entrophy

[14:25] {dino} strider has a point, one form of energy for another

[14:25] {nemo} is that entropy or atrophy Vad?

[14:26] {Threei} entropy

[14:26] {nemo} what's that got to do with sitting in front of a tv?

[14:26] {Threei} huh?

[14:27] {Threei} any movement increases the anount of entropy in Universe

[14:27] {nemo} oh

[14:27] {Threei} thermodynamics 101

06[14:27] * strider slaps nemo around a bit with a large cardboard cutout of Carl Sagan

[14:27] {nemo} I'm going to have to keep the bottle in my desk

[14:27] {nemo} Sagan was a pothead

[14:27] {dino} butterfly effect

[14:28] {dino} nat flat out

[14:28] {strider} not that there's anything wrong with that.

[14:28] {BillyD} Vad, you watch Fedora fight the other night

[14:29] {Threei} what's that?

[14:29] {strider} hat fighting

[14:29] {BillyD} A Russian UFC type fighter

[14:29] {Threei} no

[14:29] {BillyD} the best heavyweight in the world

[14:30] {BillyD} amazing fighter

[14:30] {dino} those ufc guys are nuts

[14:30] {BillyD} yeah

[14:30] {Threei} I prefer good old gun

[14:31] {nemo} tough guys, but all the rules limit technique

[14:31] {nemo} then again, can't have deaths on cable

[14:31] {Threei} and nemo... your homework for tomorrow:

[14:31] {Threei} http://en.wikipedia.org/wiki/Entropy#Entropy_in_quantum_mechanics_.28von_Neumann_entropy.29

[14:31] {Threei} http://en.wikipedia.org/wiki/Entropy#Entropy_in_chemical_thermodynamics

[14:32] {Threei} and no dogs anywhere near homework, okay?

[14:32] {Threei} anyone managed to find RIMM entry?

[14:32] {dino} esc lod

[14:33] {Threei} one of those cases I hate... got a read on direction and rough targets and never found an entry

[14:33] {Threei} then thing goes just as I thought and hits my target

[14:33] {Threei} and I am still there, on a platform

[14:33] {BillyD} lol

[14:34] {Les} spy touching green so new opportunity hopefully coming

[14:34] {strider} Trying out flyonthewall. As best I can tell, they post up/downgrades exactly 9 minutes after the insiders get the info.

[14:35] {magoo} ok..i have apptmt..gotta go..c u tomorrow..ty everyone

[14:35] {Threei} take care mags

[14:35] {Les} bye

[14:35] {Threei} strider, you tried TTN?

[14:35] {BillyD} magoo...looking for new trading office?

[14:35] {strider} don't want to pay for it right now.......

[14:35] {Threei} is fly free?

[14:36] {strider} 25/month

[14:36] {Threei} I don't remember how much TTN text only

[14:36] {Threei} anyone knows?

[14:36] {strider} 50, I THINK.

[14:36] {strider} I looked at it.

[14:37] {Les} dollar chose down

[14:37] {Threei} ok

[14:37] {fernp} fly is $25 montly

[14:37] {dino} well hope the door doesn't hit him in the azz when he leaves

[14:38] {strider} I hate Jim Cramer

[14:38] {Threei} who?

[14:38] {dino} magoo

[14:38] {Threei} lol

[14:38] {strider} Idiot on CNBC...a clown that has an aftermarket show.

[14:39] {Threei} nothing like brotherly love

[14:39] {BillyD} roflol

[14:39] {dino} the atlas is going to shrug

[14:39] {strider} Cramer=Motley Fool on speed.

[14:39] {Threei} you managed to finish it yet dino?

[14:40] {dino} about half way

[14:41] {dino} reardon's mill accident

[14:41] {Threei} sorry... I know it's enormous :)

[14:41] {dino} i like it

[14:41] {Threei} good

[14:41] {dino} did you read fountainhead?

[14:41] {nemo} yep

[14:41] {Threei} I like it as philosophy manifesto

[14:41] {Threei} as far as god riting goes it's not

[14:41] {dino} is it just as good?

[14:41] {Threei} good

[14:42] {Threei} it's shorter

[14:42] {Threei} lol

[14:42] {dino} the writings fine, really thows alot of what is going on today at you

[14:42] {Threei} oh, some similarities are stuning

[14:43] {dino} indeed

[14:45] {dino} i'm showing my age on it tho, had to buy pair of +1 reading glasses. the paperback type is small

[14:45] {Threei} heh... 1.25 here

[14:46] {Threei} I'd put it this way dino:

[14:46] {nemo} not quite there yet

[14:46] {Threei} both, fountainhead and atlas are based on the same philosophy, objectivism,

[14:46] {Threei} but atlas takes it more to a society level

[14:46] {nemo} as well as anthem

[14:46] {Threei} while fountainhead keeps it more to a personal level

[14:47] {nemo} Fountainhead focused on individuals

[14:47] {Threei} that's what I just said

[14:47] {dino} i will order it

[14:47] {Threei} fountainhead was first

[14:47] {Threei} and made her writing career

[14:47] {nemo} where each represents each constituent of the philosophy

[14:48] {Les} how interesting. hadn't heard of American dystopian fiction until you mentioned Ayn Rand.

[14:48] {Threei} and IMO as far as oure writing goes, Fountainhead is better

[14:48] {nemo} there's plenty of it Les

[14:48] {dino} good, looking forward to it

[14:48] {Les} I'm familiar with Huxley and Welles, but they are british

[14:49] {Threei} Orwell?

[14:50] {Les} him too :)

[14:50] {Les} sorry typo

[15:02] {larisa} wow AMZN, just noticed

[15:02] {Threei} yeah

[15:03] {fernp} Have a good evening everybody. see you all tomorrow.

[15:03] {nemo} nite fern

[15:03] {Threei} take care fern

[15:04] {dino} cya fern

[15:04] {Les} gn fern

[15:04] {Les} volume returning to aig

[15:09] {BillyD} BEXP strong

[15:10] {Threei} looks so tempting for a break

[15:10] {BillyD} yes

[15:11] {strider} long BEXP .09 hl

[15:11] {nemo} $ just jumpe

[15:12] {strider} stop below 11

[15:12] {Threei} strange entry strider

[15:12] {Threei} not here nor there

[15:12] {Threei} not a break yet,

[15:13] {Threei} but way too high for aggressive entry

[15:13] {Threei} the only reason for this kind would be to prevent missing it in case it breaks fast

[15:13] {Threei} but it's not BEXP personality

[15:14] {Les} rimm

[15:23] {Threei} SBUX CEO: Via instant coffee is not cannabilizing core business; is exceeding forecast; SBUX is done closing stores - CNBC

[15:25] {strider} move stop to .04 BEXP

[15:28] {dino} gj

[15:29] {Threei} yeah, this trailing I like

[15:30] {Threei} done according to what chart says

[15:30] {strider} thx

[15:31] {strider} Man,I hate these molasses trades,, but I'm gettin squashed on some of your super-fast stocks.

[15:32] {strider} I' sure I'll get better...but having problems with execution, mostly stop loss exits.

[15:33] {strider} I don't remember it being so tough when I was in the room 6 years ago...course I was 6 years younger then.

[15:33] {Threei} actually, executions wise it became way easier

[15:33] {nemo} different market

[15:33] {Threei} no thinking involved in executions anymore

[15:34] {strider} No, it's just manipulating the L2 screen....volume and price.

[15:34] {Threei} I guess you are simply out of shape... give it a month or two

[15:34] {Threei} it will become automatic

[15:34] {Threei} click on price, click button

[15:34] {Threei} simple as that

[15:35] {strider} No. It's not, vad. You don't know how complex the swhole thing is,,,you've been doing it too long.

[15:35] {Threei} hehe

[15:35] {Threei} if it's complex, you are doing something wrong

[15:35] {strider} Have to be ready to exist at either profit or loss. Partialling out. Lots of options to be ready for.

[15:35] {strider} exit

[15:36] {Threei} wait

[15:36] {Threei} you ARE overcomplicating it

[15:36] {Threei} it approaches your exit price, click on level 2 on your target

[15:36] {Threei} hover over sell

[15:36] {Threei} click as it's there

[15:37] {Threei} or lay it out in advance

[15:37] {Threei} that's it

[15:37] {strider} That's what you have to do...lay it out in advance. but then you also have to be ready to do a loss sell as well. and often, the volume price has to be changed, cause you're getting ready to partial out on the profit side.

[15:38] {Threei} so, while stock iks moving, click on arrow to get size down to half and lay it out

[15:38] {Threei} if it reversed on you too soon and went to a stop, just click sell

[15:39] {strider} have to change volume there.

[15:39] {Threei} no

[15:39] {Threei} faster to click twice

[15:40] {strider} I'm not partialling half most of the time. Less than that.

[15:40] {Threei} do you have two level 2s?

[15:40] {strider} yes

[15:40] {Threei} put a stock on both,

[15:40] {Threei} partial on one for sell at profit,

[15:41] {strider} sometimes they're both in use. As in this morning first thing.

[15:41] {Threei} full position at another for sell at loss

[15:41] {Threei} OK, I exhausted my versions :)

[15:41] {strider} :)

[15:42] {larisa} I say do not partial until you are more confident

[15:42] {Threei} I was just thinking that

[15:42] {Threei} but he finds a flaw with anything I suggest... so shinked back :)

[15:42] {Threei} shrinked too

[15:42] {larisa} lol

[15:43] {strider} I'll get better at it.

[15:43] {Threei} just try not to

[15:44] {Threei} you were +70 larisa? or +30?

[15:44] {larisa} I was -70. you were +30

[15:44] {Threei} right

[15:44] {strider} Vad, do you think you're system is profitable without partialling?

[15:44] {larisa} {--- honest here

[15:44] {Threei} Alzheimer...

[15:45] {Threei} I don't think... I know

[15:45] {strider} stopped , by the way

[15:45] {strider} Good. I just can't see that from here. I started at a bad time in the market.

[15:46] {Threei} let's distinguish system and one's particular execution

[15:47] {strider} Sure. I was asking about the potential for your system, without the advantage of partialling.

[15:47] {strider} I know that my execution skills are costing me money.

[15:49] {strider} Wasn't criticizing your system...only asking if partialling were a necessary part of it.

[15:50] {Threei} they are always discretionary

[15:50] {strider} k

[15:50] {Threei} I can't tell anyone to scalp or day trade

[15:50] {Threei} if you noticed, I make the distinction when call for both

[15:50] {Threei} as in:

[15:50] {strider} sure

[15:50] {Threei} for scalpers stop is this,

[15:51] {Threei} for day traders this

[15:51] {Threei} etc

[15:51] {Threei} but it's up to everyone to decide who s/he is

[15:55] {BillyD} on that note, I will call it a day...thx Vad

[15:55] {BillyD} lol

[15:55] {Threei} thank you all

[15:55] {larisa} bye all

[15:55] {dino} take care you guys

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

[15:55] {nemo} take it any way i can get it