Nov 20 2009

The day started with small scalps and small stops, then turned to the better with nice WFC short, NLST momentum trade and a few scalps. General boredom was still present though.

Session Time: Fri Nov 20 00:00:00 2009

[08:14] {strider} Laser bizarro..........

[08:15] {strider} looking at IPOs starting to trade today. Laser gives me daily charts going back to April of last year.

[08:16] {nemo} Oy

[08:18] {strider} look at CLD, GTEC, SVN

[08:18] {strider} see if you get dailies for them.

[08:18] {nemo} oh...is GTEC coming public again

[08:18] {nemo} they've gone public/private like three times

[08:19] {strider} really?

[08:19] {strider} farm out

[08:19] {nemo} If that's the company out of RI that makes lottery equipment it is

[08:19] {strider} dunno

[08:20] {strider} GTEC priced at $13.......maybe we should just short on open.

[08:20] {nemo} $ up big

[08:21] {strider} yeah saw that. $

[08:26] {BillyD} GM nemo, strider

[08:26] {strider} mornin Billy:)

[08:28] {nemo} BD

[08:36] {Threei} DNDN

[08:36] {Threei} Dendreon Corp Receives FDA Acknowledgement of Complete Response

[08:36] {Threei} - Announced that the U.S. Food and Drug Administration (FDA) provided written acknowledgement that the Company''s amended Biologics License Application (BLA) for PROVENGE(sipuleucel-T) is a complete response.

[08:36] {Threei} - The FDA has assigned a Prescription Drug User Fee Act (PDUFA) date of May 1, 2010, by which time it will respond to Dendreon''s amended BLA. Dendreon is seeking licensure for PROVENGE for men with metastatic castrate-resistant prostate cancer (CRPC).

[08:38] {Threei} BLTXX Baltic Dry Bulk Index declines around 3%, first decline in 17 sessions

[08:40] {strider} BCRX, SJM

[08:40] {Threei} NLST again

[08:56] {ese} good morning

[08:56] {Threei} ese :)

[09:01] {Threei} HLHL

[09:01] {Threei} GLG Life Tech Corp To trade on NASDAQ begining at 10AM ET

[09:01] {Threei} - leader in the production of high quality stevia, a zero-calorie, natural sweetener listed on the Toronto Stock exchange under GLG.

[09:01] {Threei} GLGL

[09:02] {cosmo} hmmm...kinda sounds like the good stuff....

[09:03] {strider} HLHL/GLGL--symbols?

[09:03] {Threei} GLGL

[09:03] {strider} thx

[09:05] {strider} SJM

[09:06] {strider} HIBB

[09:07] {fernp} Good morning everybody

[09:07] {Threei} fern :)

[09:07] {ese} fern

[09:07] {ese} nlst just won't quit

[09:08] {strider} morning everyone

[09:10] {strider} shippers taking a hit this morning.

[09:10] {strider} nat, dsx, drys

[09:10] {ese} definitely

[09:10] {ese} i unloaded my drys position at 6.97 2 days ago

[09:11] {Threei} [08:38] {Alert} Threei BLTXX Baltic Dry Bulk Index declines around 3%, first decline in 17 sessions

[09:11] {strider} yep

[09:11] {strider} I got 7.11 on 1 lot, still holding two at .42--longer term

[09:11] {strider} 6.42

[09:12] {ese} was in at .46 out .97

[09:12] {ese} nice

[09:12] {ese} you'll be fine with the longer term too....am looking to get back in as well

[09:14] {cosmo} NLST again

[09:14] {ese} just gonna say that cos

[09:14] {cosmo} :)

[09:14] {ese} what is the technology that it produces.....

[09:14] {ese} nlst that is

[09:15] {cosmo} checking...

[09:15] {ese} what the heck is a hypercloud memory module

[09:15] {nemo} nlst

[09:16] {ese} yes

[09:16] {nemo} geezus

[09:17] {strider} everybody needs a couple of those.

[09:17] {ese} yup....gonna get right out there and pick one up today

[09:17] {Threei} siunds about right

[09:18] {Threei} I don;'t know how I lived without hypercloud memory module

[09:18] {lasertrev} morning

[09:18] {Threei} trev :)

[09:18] {nemo} another optimist

[09:18] {ese} me either.........life will be just that much simpler with one

[09:18] {ese} trev

[09:18] {dino} gm all

[09:18] {Threei} dino :)

[09:19] {ese} dino

[09:19] {strider} dino:)

[09:19] {strider} have you got your hypercloud memory module installed yet?

[09:19] {lasertrev} hi ese

[09:19] {magoo} morning

[09:19] {Les} afternoon

[09:19] {dino} :)

[09:19] {Threei} magoo, les :)

[09:20] {strider} magoo:)

[09:20] {cosmo} nlst = enigma

[09:20] {nemo} mags dino les trev patience raven cosm o ese fern jmb dunedin :)

[09:20] {Les} nemo :)

[09:20] {nemo} dawg :)

[09:20] {nemo} Herrn K :)

[09:21] {ese} one thing is sure.....it sent the price of the stock hyperhigh.....1 to 7 bucks in 3 days

[09:21] {dawg} nemo:)

[09:21] {Threei} dawg :)_

[09:21] {nemo} wuff

[09:21] {Les} Vad its friday arvo. when am i allowed to have a drink?

[09:21] {strider} here's what I think they sold me: a DIMM. very low profile registered dual in-line memory modules (DIMM), 4 Rank fully-buffered DIMM, small form factor DIMM,

[09:21] {dawg} morning Vad

[09:21] {ese} dawouuuuug!

[09:21] {Threei} what am I, drink police?

[09:21] {Threei} as far as I am concerned you can have first one before getting out of bed

[09:22] {Les} no words of wisdom on drinking and trading?

[09:22] {dawg} ese:)

[09:22] {Les} no 4X2?

[09:22] {Threei} words - no

[09:22] {Threei} 2x4 - sure

[09:22] {nemo} Yeah, since drinking interferes with my sleep, I start when I get up, and stop at lunch

[09:22] {Threei} but there is no necessary particular reason

[09:22] {Les} so. shippers are in play?

[09:23] {Threei} hypercloud memory module sure is

[09:23] {ese} is that memory module from nlst ST

[09:23] {dino} interesting nemo

[09:23] {dino} reminds me of hunting season

[09:24] {strider} morning _jodistr :)

[09:25] {ese} ST....did you buy your memory module from nlst?

[09:26] {magoo} NLST at it..was lookikng for over 6 yesterday

[09:26] {Threei} .35 is NLST premarket high so far

[09:26] {strider} I got one of thee prototypes, ese.......sold on late night TV

[09:27] {strider} also turns lights on and off

[09:27] {strider} and changes color with my moods.

[09:27] {ese} and.........does it do something.......something cool, special,........snything

[09:27] {ese} anything

[09:28] {ese} lol

[09:28] {strider} dices mounds of onions....

[09:28] {ese} is it faster or something or what?

[09:28] {strider} man, you want everything!

[09:29] {strider} ARCL, opens at 10:40

[09:29] {strider} GTEC opens at 11AM both IPOs

[09:29] {strider} though nemo tells mme GTEC has been around the block a few times.

[09:30] {nemo} If that's the GTEC I knew

[09:32] {Threei} Short Setup: AIG .70 break

[09:32] {Threei} if stays under .80

[09:32] {Threei} half lot

[09:33] {Threei} 1:1

[09:33] {strider} missed

[09:33] {Les} missed

[09:34] {ese} l nlst .40

[09:34] {BillyD} out ty

[09:34] {Les} nice entry point ese.

[09:34] {ese} out .66

[09:34] {fernp} ty only grabbed 37 shares :-)

[09:35] {ese} nlst that is.......+.26

[09:35] {ese} a little bs luck the les

[09:35] {ese} x and sales going like crazy.....

[09:36] {ese} helps predict the momo a little better

[09:37] {ese} when this one finally tanks......me thinks it's going to tank hard

[09:38] {Threei} feels like it will try and break 7 before it tanks

[09:38] {bkhmd} gm all

[09:38] {Threei} bkh!

[09:39] {strider} can't short NLST

[09:39] {nemo} same as yesterday

[09:39] {strider} LASER

[09:39] {strider} forgot

[09:39] {nemo} yeah...me too until you mentioned it

[09:40] {ese} agreed vad......

[09:40] {dino} partial fill crmt l .24

[09:40] {ese} am lookin for another entry....but nothing yet

[09:41] {Threei} Long Setup: RIMM .20 break

[09:41] {Threei} disregard

[09:41] {Threei} .10 break

[09:41] {Threei} if stays above 58

[09:42] {ese} l fitb .02

[09:42] {magoo} in

[09:42] {ese} givin this another shot

[09:43] {ese} got rid of my last 5k yestereday even

[09:43] {ese} out fitb .09

[09:43] {dino} f'ing partials, they always work

[09:43] {Les} descending triangle RIMM

[09:43] {magoo} god dam RIMM

[09:43] {ese} +.07

[09:43] {Threei} no go

[09:43] {bkhmd} out

[09:43] {nemo} stoppe

[09:44] {magoo} peice of shit lately rimm

[09:44] {ese} love this stock.......in and out with 20k ...takes it like .....smoothe

[09:44] {fernp} I hate RIMM

[09:44] {magoo} dont even look at hig vad or illreach into computer and smack u

[09:44] {magoo} LOL

[09:44] {Threei} ok, I ran out of stocks to call

[09:44] {Threei} se you next millenium

[09:44] {nemo} RIMM has killed me this week

[09:45] {dino} take it off your screen then

[09:46] {magoo} this has been hardest most shitty november i can remember

[09:46] {Threei} crap... you guys send me into depression

[09:46] {bkhmd} lol

[09:46] {BillyD} lol

[09:46] {magoo} well...we need u there with us

[09:47] {nemo} now look at rimm

[09:47] {Threei} with your desperate comments after one 10 cents win and one 10 cents loss

[09:47] {nemo} no...6 rimm trades this week, all losses

[09:47] {dino} nemo, hurts when i hit my head on the wall, so i don't do it...

[09:47] {Les} hgsi

[09:47] {BillyD} good one dino

[09:48] {nemo} You don't have the level of brain damage I do Dino

[09:48] {dino} :)

[09:48] {magoo} nemo, want me walk over and smack dinos head for ya?

[09:48] {Threei} seriously, I take a break for 15 minutes

[09:48] {BillyD} lol

[09:48] {nemo} If you feel the need mags

[09:48] {Threei} I need to clear my head from all this negativism

[09:48] {dino} magoo, keep it up an i'll throw a shoe at you again

[09:48] {Threei} you can all wallow in it all you want

[09:48] {nemo} Ooohhhhhh Dino

[09:48] {bkhmd} wow what ahppened i left t he room for a week and we are slapping heads

[09:48] {bkhmd} lol

[09:48] {bkhmd} better than smelly fish i guess

06[09:49] * nemo slaps dino around a bit with a large smelly shoe

[09:49] {dino} lol

[09:49] {dino} back to work

[09:49] {Les} don't go vad I lost on rimm too but i want the money. SHOW ME THE MONEY!!

[09:49] {fernp} HIG .30 beak

[09:49] {fernp} break

[09:50] {Les} AIG about to break down?

[09:50] {Les} or break out?

[09:50] {Les} hgsi about to breakdown

[09:50] {ese} vad....fitb ...opinon please....good chance to break .10.....it it does i think i'ts gonna go along way

[09:51] {Threei} pretty much market dependent ese

[09:51] {ese} agreed

[09:51] {Threei} the thing with FITB lately, breaks work on it only when market gets really hot

[09:51] {Threei} when market tanks, FITB holds relatively well

[09:52] {Threei} and can be bought on pullback for a nice bounce

[09:52] {ese} yes....thats what i'm noticing

[09:52] {Threei} but buying breakout will put you in a long holding pattern

[09:52] {ese} it does hold really well against mkt

[09:52] {Threei} and can be quite unnerving

[09:52] {Threei} NLST doesn't give up

[09:52] {strider} DELL testing new low

[09:53] {ese} seems to be resistance pt at .10

[09:53] {BillyD} tough one NLST, large offers both ways get smacked

[09:54] {Threei} WMT almost touched 55

[09:54] {Threei} pulback entry try

[09:54] {Threei} .65 break if holding .60

[09:54] {Threei} first who says I hate WMT gets banned from the room for an hour

[09:55] {fernp} lol

[09:55] {Threei} and 5 minutes

[09:55] {BillyD} roflol

[09:55] {nemo} I'm so in love with WMT

[09:55] {Les} i'm in

[09:55] {strider} in

[09:55] {Threei} 5 minujtes is bonus from me personally

[09:56] {Les} how do you want to play wmt. scalp only?

[09:56] {Threei} with market help should be good for 1:2

[09:57] {strider} long DELL from .40

[09:57] {strider} stop lod

[09:57] {Threei} stop under .30?

[09:57] {Threei} okay

[09:57] {Threei} makes sense

[09:57] {Threei} over 1:1

[09:57] {Threei} good one

[09:58] {ese} dabbling fitb l .05

[10:00] {ese} bastard .05419.....higher price

[10:00] {Threei} NLST finally yileds to gravity

[10:01] {strider} stop wmt

[10:01] {Les} ditto

[10:01] {nemo} yeah

[10:01] {strider} I hate WMT

[10:01] {magoo} oh oh

[10:01] {magoo} u be gone

[10:03] {nemo} nasty shakeouts...it's a conspiracy to whack our stops

[10:03] {nemo} :)

[10:03] {nemo} look at formation on Rimm (hate that stock)

[10:03] {Les} I stopped out WMT flat. Dunno if its a no no, but descending triangle developing on WMT whispered to me "get out"...

[10:04] {ese} l fitb some more .05

[10:04] {nemo} great...he's hearing voices

[10:04] {Les} no, using zoom feature on IB charts. great for seeing patterns

[10:08] {Threei} Short Setup: CAT .50 break half lot

[10:08] {Threei} if stays under .60

[10:09] {strider} DKS

[10:11] {nemo} strider, I've got .10 as a support level for dks, might want to see if it can hold above it

[10:11] {dino} yesterday, beat and lowed guidance

[10:11] {Les} wfc weak

[10:12] {strider} thx

[10:12] {nemo} yeah, I work for them part time

[10:12] {nemo} They are cutting staff hours left and right

[10:12] {Les} who, wfc or dks?

[10:12] {nemo} dks

[10:13] {nemo} selling non pc merchandise

[10:13] {dino} tra

[10:14] {fernp} out flat WMT. first time stopped, this time at 1:1

[10:14] {Les} non politically correct merchandise - pray thee, do tell

[10:15] {Les} hgsi back in green

[10:15] {nemo} whoa...rimm

[10:15] {Threei} ok guys, here is the deal

[10:15] {Threei} RIMM, clean setup .30 break

[10:15] {Threei} with stop under .20

[10:15] {Threei} want to hear why I didn't call it?

[10:15] {nemo} we know

[10:15] {Threei} make your conclusions

[10:16] {magoo} guess what? i too k 10 anyway and out .57

[10:16] {nemo} well...at least you did well on it Vad...and that's good

[10:16] {Les} aw that's nasty, punishing the group for the individual whiners

[10:16] {dino} lol

[10:16] {Threei} I am not punishing anyone

[10:16] {nemo} no...military way

[10:16] {Threei} I am growing hesitant to call it

[10:16] {Les} hmm

[10:16] {magoo} so get in the game mav..god dammit maverick..ENGAGE

[10:17] {magoo} i like rimm now vadL

[10:17] {Les} bull flag forming hgsi?

[10:18] {Threei} let's poll the room first about attitude toward HGSI

[10:18] {magoo} vad, its the mkt thats f'ed ..not the individual stocks..so keep calling RIMM...truthe be told...I HATE THEM ALL..but gotta take trades

[10:19] {Les} oh I get it.... a joke

[10:19] {BillyD} TTIL

[10:20] {Threei} yeah billy, second day

[10:20] {Threei} little piece of crap

[10:20] {BillyD} world of its own

[10:20] {Threei} one of those slow grind climbs

[10:21] {Threei} Short Setup: WFC .95 break

[10:21] {fernp} stop above 28?

[10:22] {Threei} if sets up from here, yeas

[10:23] {Threei} maybe give it one more cent, it tested 28.01 three times over last 15 minutes

[10:23] {dino} sm l ctrp .03 wide

[10:23] {fernp} yes

[10:24] {ese} l fitb avg pr .056

[10:24] {Threei} I hope you are watching RIMM

[10:25] {magoo} asmashed 1 of my 3 keyboards over it vad

[10:26] {dino} cf blood

[10:27] {dino} tera elects cf slate

[10:27] {dino} tra

[10:27] {Les} rimm bull flag setup again?

[10:28] {Threei} way too high now

[10:28] {Threei} risk is getting beyond acceptable

[10:28] {Les} k

[10:29] {Threei} needs selloff to about 58.80 to become a play again

[10:29] {dino} pwrd

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

[10:30] {Threei} - NYSE volume 395M shares, about 40% above its three-month average; decliners lead advancers by 2.7:1.

[10:30] {Threei} - NASDAQ volume 560M shares, about 1% above its three-month average; decliners lead advancers by 1.5:1.

[10:30] {Threei} - VIX index -0.75% to just under 22.50

[10:30] {Les} die wfc

[10:30] {Threei} DNDN Hearing Rodman making positive comments in the name (timing uncertain) (28.20, +0.15, 0.53%)

[10:35] {dino} cedc strong

[10:36] {Threei} WFC starts looking like capable of more than scalp

[10:36] {Threei} 1:1

[10:36] {fernp} ty

[10:36] {bkhmd} ty out

[10:36] {bkhmd} i needed that

[10:36] {Threei} welcome

[10:37] {BillyD} out thx Vad

[10:37] {Les} 1st time partial. half out

[10:37] {Threei} do it by the book Les, stop to .96

[10:37] {Les} k

[10:38] {Threei} locking profit in so you play with house money now

[10:38] {Threei} not letting trade turn into loss or even flat

[10:39] {Threei} allowing profit potential to maximize you accept the risk of it evaporating,

[10:39] {Threei} but what is booked should stays booked

[10:39] {bkhmd} .96 stop? would that not be - 2 on the remainer?

[10:39] {Threei} .95 was critical barrier

[10:39] {Threei} it became new resistance

[10:40] {bkhmd} ahh k

[10:40] {bkhmd} im out just asking

[10:40] {Threei} if it's broken, it invalidates downtrend continuation

[10:40] {strider} ARCL open IPO

[10:40] {Threei} so desicio making wise, this is kind of point where your personal monetary considerations and chart indications must be reconsiled

[10:41] {Threei} and something's gotta give

[10:41] {Threei} chart says .96

[10:41] {Threei} strct breakeven says .95

[10:41] {Threei} 1 cent difference is not that crucial for me that I wouldn't give preference to a chary

[10:42] {Threei} chart

[10:42] {nemo} wmt puking

[10:42] {Threei} 1:2

[10:43] {Les} all out .86 ty for further understanding

[10:43] {Threei} by the book, 1/4 more cover

[10:43] {Threei} 1:3

[10:44] {Threei} either full cover or no covering anymore, just trailing

[10:44] {Les} ok. have confidence now to try partialing.

[10:44] {Les} nice drop. saw descending triangles on fas, spy and wfc but didn't think id see this

[10:44] {Threei} out in full

[10:45] {Threei} .79

[10:45] {fernp} excellent

[10:45] {Threei} and what do you know, no WFC haters

[10:46] {nemo} i'm indifferent to wfc

[10:47] {dino} ctrp stop is lod

[10:48] {strider} ctrp

[10:48] {strider} sorry

[10:48] {BillyD} HIG, our beloved may be setting for short off 24.9

[10:48] {Les} nlst setup?

[10:49] {Threei} NLST is a momo player...

[10:49] {Threei} WFC 1:4

[10:49] {Threei} without us but still

[10:49] {dino} ne

[10:49] {Les} nice to catch a bank with its pants down

[10:50] {Threei} 7 is on the nose

[10:50] {dino} ne gap around 37.30

[10:51] {strider} pcs

[10:51] {Threei} US) Treasury nominee Brainard: Chinese currency rate now seen as getting in the way of economic recovery

[10:51] {Threei} - CNY was a stabilizing force at the height of the crisis

[10:51] {Threei} - CNY now forcing other countries to step up opeartions to halt appreciation in their currencies

[10:52] {Les} took nlst for +.8

[10:52] {magoo} out 7.10 + .60

[10:52] {ese} you called it vad nlst 7

[10:52] {dino} ne hl l .00

[10:52] {Les} doesn't he mean that the US still can't compete with china pegged to the $?

[10:52] {dino} stop lod

[10:53] {magoo} i took that 6.50 cross when lev 2 picked up pace

[10:53] {magoo} too fast to post

[10:53] {magoo} SORRY

[10:53] {ese} what the hell is a hypercloud memory module

[10:53] {Threei} that was the case for decades Les

[10:53] {dino} they don't realize if china appreciates, everything we buy will sky rocket

[10:53] {nemo} they know

[10:53] {Threei} ese... this is the thing that finally made magoo happy today

[10:53] {magoo} im loving everthing

[10:53] {Threei} whew

[10:53] {Threei} thank you god

[10:54] {Les} how long you been trading mags?

[10:54] {magoo} even looked over at HIG he he

[10:54] {Threei} rofl

[10:54] {ese} the module?

[10:54] {magoo} 9 years

[10:54] {Threei} now I need nemo to start loving RIMM and my life will be whole again

[10:54] {magoo} but first 5 was idiot

[10:54] {BillyD} and HIG short worked magoo, there is hope

[10:54] {Les} ? with vad?

[10:54] {bkhmd} We all love RIMM VAD dont pass up on next set up like the one we missed lol

[10:54] {magoo} vad, how long us?

[10:54] {ese} tough task......nobody will ever love rimm

[10:55] {Threei} except first 5 les

[10:55] {Les} :)

[10:55] {Threei} that was an idiot stage :)

[10:55] {magoo} 4

[10:55] {Les} lucky to find you then. still in my first year

[10:55] {Threei} I'd have to look it up mags... on top of memory I'd say 4-5

[10:55] {strider} then mags got his hypercloud memory module, and well, the rest is history.

[10:55] {magoo} wish i met the grumpy ole boy earlier

[10:55] {Threei} lol strider

06[10:56] * Threei changes nick to Grumpy Ole Boy

06[10:56] * Threei remembers than there is no country for grumpy old men and changes back

[10:56] {magoo} one thing vad should admit if he wants to be serious...i always had a "feel" or read on momo moves...my thing

[10:56] {Threei} oh yeah

[10:56] {Threei} you live for that

[10:57] {fernp} FAS breaking lod

[10:57] {dino} nuva

[10:57] {Threei} and getting better and better in two things

[10:57] {Threei} 1, recognizing momo

[10:57] {Les} yes, i asked you because you are aggressive on some stocks

[10:57] {Threei} 2. controlling risk when momo leaves

[10:57] {Les} I remember reading of mags when AIG was white hot earlier this year

[10:57] {Threei} watch NLST guys

[10:57] {Threei} momo recognition

[10:57] {Les} thinking wow, thats big cash being made

[10:58] {magoo} yea...but like 4 years ago even..vad will confirm..we used to nail momo like BOOM remember vad?

[10:58] {Threei} I need a tissue

[10:58] {BillyD} lol...

[10:58] {Les} sentimental old goy

[10:58] {Les} boy

[10:58] {nemo} what kind of tissue vad?

[10:59] {BillyD} almost a mutiny 1 hr ago and now everyone is happy

[10:59] {nemo} what mutiny...just pissin' and moanin'

[10:59] {dino} nuva

[10:59] {dino} bi-polar bd

[10:59] {Threei} lol... it's not a democracy here, no such things as mutiny

[10:59] {nemo} yeah, the beatings will continue until morale improves

[11:00] {Threei} just one lesson left for today

[11:00] {BillyD} Vad, I thought you were gonna be Capt Bly and make everyone walk the plank

[11:00] {nemo} and then, they'll continue some more

[11:00] {cosmo} hmm...animal house

[11:00] {Threei} or hang on the mast

[11:00] {nemo} Did we give up when the Germans bombed Pearl Harbor!

[11:00] {Threei} I am waiting with the lesson a bit,

[11:00] {dino} heck no

[11:00] {Threei} want you to observe NLST

[11:01] {dino} lol

[11:01] {nemo} lol

[11:01] {Les} what for. further momo?

[11:01] {Threei} it's displaying very typical momo behavior

[11:01] {Les} k

[11:01] {Threei} watch pace, watch how it acts on braks and pullbacks

[11:01] {Threei} compare pace

[11:01] {Threei} see when the breaks act as trap,

[11:01] {Threei} when they are real,

[11:02] {dino} nuva hl l .50

[11:02] {Les} is typical of falling stock as well? or completely different sort of momo?

[11:02] {dino} stop lod break

[11:02] {Threei} when opullbacks are for enter and when they are hopeless, just little bounce and drift lower

[11:02] {Threei} it's very hard to put in any set of rules,

[11:02] {Threei} you need to watch it and get a feel for it

[11:02] {Threei} no Les, that's different thing

[11:03] {Threei} capitualtory selling is governed by different kind of emptions

[11:03] {Les} k

[11:03] {cosmo} ultimately, she be a heart breaker

[11:03] {Threei} they are just as scorching hot, but they are different

[11:03] {nemo} rimm (ow) again vad

[11:03] {Threei} aren't they all cos

[11:03] {cosmo} for some time now ...yea

[11:04] {dino} men lose lots of money chasing women, but rarely do they lose women chasing money

[11:04] {Threei} .30 resistance

[11:04] {Threei} watch how it acts aaround it

[11:04] {Threei} good one dino

[11:06] {magoo} when money goes out the window (ie trading losses)...women go out the door

[11:06] {dino} nuva stopped -.30

[11:06] {Threei} but the opposite is just as true

[11:06] {dino} try again lower

[11:07] {nemo} nothing more important to a relationship than money

[11:07] {Threei} when women come in the door, money goes out the window

[11:07] {fernp} lol

[11:07] {dino} w/o it lots of trouble

[11:07] {cosmo} follow the money

[11:07] {nemo} We'd still be in The Garen of Eden if it weren't for them

[11:07] {strider} I hate NUVA

[11:07] {magoo} well vad..but for me just a lil tweak...when $$ is coming in...i like to KICK my current women out the door

[11:07] {Threei} then I am thankful to them

[11:07] {dino} oh man, rinsed big time

[11:07] {strider} damn rinse-o-matic

[11:07] {Threei} that garden wsas horrifyingly boring

[11:07] {nemo} Bible leaves out the part where Eve threatened to shut off Adam if he didn't eat the apple

[11:08] {nemo} Oh, yeah, boring, eat, sleep, sex...boring

[11:08] {dino} roflol

[11:08] {Threei} what can I do nemo... I am a hunter

[11:08] {nemo} makes two of us

[11:08] {dino} how did that get us strider

[11:08] {Threei} I need to get mine in a chase

[11:08] {magoo} me hunter

[11:08] {cosmo} some say snakes used to be our friends

[11:09] {Threei} not to be given it

[11:09] {strider} dunno

[11:09] {cosmo} but ...no matter

[11:09] {Threei} I ejoy the process of getting the prize more than consuming it

[11:09] {strider} very suspicious looking, though

[11:09] {dino} wolf is always at the door

[11:11] {Threei} Les, looking back at remark about RIMM risk becoming unacceptably high near 59.50

[11:11] {Threei} see what it did since then?

[11:11] {Les} y

[11:11] {Threei} hard shakeouts,

[11:11] {Threei} bounces,

[11:11] {Threei} but nothing even close to another break and run

[11:11] {strider} PCS c&h

[11:12] {nemo} op ex friday afternoon

[11:12] {Les} non of that is conspiracy though is it

[11:12] {strider} I'm in small at .36

[11:12] {Les} just locking in profits etc etc

[11:12] {Threei} NLST nears critical level again

[11:12] {Threei} third time

[11:12] {Threei} of course no Les

[11:12] {Threei} simple trading

[11:13] {nemo} WMT almost back to yesterday entry

[11:13] {Threei} 99% of conspiracies are meaningless bs

[11:13] {nemo} It helps those of us with paranoid delusions cope

[11:13] {Threei} give a read to

[11:13] {Threei} http://www.realitytrader.com/blog/2009/08/manipulation-myth-and-reality.html

[11:14] {nemo} yeah, but you're on retainer to Goldman Sachs :)

[11:14] {Threei} most of "manipulation" cries is nothing but cop out of self-responsibility for the result of your own desicions

[11:14] {Threei} of course I am

[11:15] {Threei} Goldman Sachs is very concerned about opinion of two dozens day traders

[11:15] {nemo} nlst

[11:15] {nemo} well there's only one Darth Vad

[11:16] {nemo} mags you in again?

[11:16] {Threei} one of old patterns works for NLST here

[11:16] {BillyD} it show a change

[11:16] {Threei} sewcond test of the high is more often a failure,

[11:16] {Threei} third is more often success

[11:21] {strider} reboot

[11:23] {cosmo} nlst wont die ...until it spawns

[11:23] {Threei} I believe 8 will be hit

[11:23] {nemo} any news on pru?

[11:23] {Les} can we have a go

[11:23] {Threei} it displays all signs on momo continuing

[11:23] {magoo} yes and out noew

[11:24] {Threei} PRU Hearing added to US 1 list at Merrill/BofA (timing uncertain)

[11:24] {Threei} - Hearing SSW, TXN, TMK removed

[11:24] {nemo} ty

[11:24] {magoo} [11:17] {nemo} mags you in again?

[11:24] {nemo} yes mags, ty

[11:25] {magoo} sorry was away from desk

[11:25] {nemo} vad, wmt at 54.12

[11:25] {strider} PCS testing high

[11:25] {magoo} pullbks the way to p[lay

[11:25] {magoo} but its getting RISKIER as we go now

[11:25] {BillyD} where was your entry mags?

[11:25] {magoo} .50

[11:25] {magoo} out .73

[11:25] {BillyD} thx

[11:26] {magoo} looks likje 8

[11:26] {magoo} prob breathe at 7.90 area

[11:26] {magoo} could be top thee

[11:27] {magoo} or if takes 8 can go 8.20

[11:27] {magoo} breahe, the .70

[11:27] {magoo} but hey

[11:27] {magoo} take a pullbk iif IF sets up and gotta keep STOP

[11:28] {magoo} in case its done

[11:28] {BillyD} we about to bounce Vad

[11:28] {Threei} CRXX Hearing ticking higher on positive newsletter mention (1.03, +0.15, 17.05%)

[11:29] {dino} crmt gap filling

[11:29] {dino} great report

[11:31] {Les} .50 yer pullback on nlst mags?

[11:34] {Threei} NLST more or less calmed down for now

[11:34] {Threei} so, let' me nudge you in the direction I wanted you to think about

[11:34] {nemo} wfc break of .80? stop uner .75

[11:34] {BillyD} Vad, any read on WMT

[11:35] {BillyD} doesn't seem done selling yet

[11:35] {Threei} WMT, not yet

[11:35] {Threei} right

[11:35] {dino} crmt sm l 35

[11:35] {dino} .35

[11:35] {Threei} WFC, 50/50

[11:35] {Threei} back to our sheeps

[11:36] {nemo} animal fetishes?

[11:36] {Threei} being a teenager, you probably heard from parents or teachers

[11:36] {Threei} "watch your mouth"

[11:36] {Threei} well, it does apply to trading

[11:36] {Threei} as far as mindset goes

[11:36] {nemo} sheep an wolves

[11:37] {Threei} all these negative comments you make, out loud or for yourself,

[11:37] {ese} well whats happening........dropped my son off at school

[11:37] {Threei} they form your mindset

[11:37] {Threei} tell yourself 10 times how RIMM is not working, how you always lose on it, how you hate it

[11:37] {Threei} then that one rifht setup comes,

[11:37] {Threei} and you are left in dust

[11:37] {Threei} because ou cnvinced yourself that you should ignore it

[11:38] {magoo} NLST guys...beware..it could be done

[11:38] {magoo} ill post when i like it

[11:38] {Les} thanks

[11:38] {magoo} widowmaker remember

[11:38] {magoo} was 3 bux a week ago if i recall

[11:39] {Threei} 1

[11:39] {Les} i keep tabs on traders tweets elsewhere. all out on nlst

[11:39] {nemo} pru short, break of .75, stop .90?

[11:39] {nemo} invalidate .90 too?

[11:40] {Threei} I'd prefer aggressive entry on it

[11:40] {Threei} no breakdown worked on PRU today

[11:40] {Les} egle pushing for new high

[11:42] {Les} cat dropping hard. monthly charts suggests support around 57?

[11:43] {fernp} WMT almost hit 55 this morning and now is trading at 54. I don't know how swing traders make money

[11:43] {Threei} who says they do

[11:43] {fernp} :-)

[11:44] {Les} egle long with .90 trigger?

[11:44] {Threei} les, this is not the kind of support that is huaranteed to provide any guidance

[11:44] {Threei} why 5.90?

[11:44] {Les} ok. so breaking previous high for the day doesnt guarantee anything?

[11:45] {Threei} what are you talking about? my first comment was on CAT

[11:45] {Threei} second on EGLE

[11:45] {Threei} how do you combine them in one question?

[11:45] {Les} :P

[11:46] {Les} ok. so 57 is not "bounce" territory?

[11:46] {Threei} by itself, no

[11:46] {BillyD} back to CAT then

[11:46] {Threei} if right setup is forming and market helps, yes

[11:46] {strider} DDS salmon

[11:55] {dino} freakin' nuva rinse

[11:55] {Les} DCTH

[11:55] {Les} another momo?

[11:56] {Threei} look at T&S

[11:56] {nemo} coma

[11:56] {Les} interesting

[11:56] {nemo} volume

[11:56] {nemo} fcx

[11:57] {magoo} guys, NLST is so far holding..but were in wrong time of day now

[11:57] {nemo} wmt

[11:57] {nemo} sorry

[11:57] {magoo} wouldnt be surprised to see it lose 7

[11:57] {dino} oil moving

[11:57] {magoo} great momo sign if it does NOT

[11:58] {Les} thanks. will keep it in front of me

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

[12:00] {Threei} - NYSE volume 560M shares, about 14% above its three-month average; decliners lead advancers by 2.7:1.

[12:00] {Threei} - NASDAQ volume 945M shares, about 5% below its three-month average; decliners lead advancers by 1.8:1.

[12:00] {Threei} - VIX index +0.75% to just over 22.50

[12:01] {Threei} news cycle is completely overtaken by Oprah quitting

[12:02] {Threei} never mind health care debate, economyh voes, unemployemtn

[12:02] {Les} for one person to have that much pull in a society...

[12:03] {Threei} she quits in TWO years

[12:03] {Threei} yet fokr the second day it's all TV talks about

[12:04] {Threei} there is such sense of urgency in discussing evcerything related, I start thinking.. may be during these two remaining hyears I need to watch a single show of hers?

[12:04] {Les} nah, she is going to do her own show on her own cable company

[12:05] {Les} after she quits nbc or whoever it is

[12:05] {Les} dell short?

[12:05] {Les} volume stinks

[12:05] {Threei} charts are in conflict

[12:06] {Threei} intraday is short, daily is not

[12:06] {Les} ouch thats a nasty drop on daily

[12:07] {Les} nlst holding firm into lunch

[12:08] {Threei} NLST actually formed little setup hr3

[12:08] {Threei} .50 break if holding .40

[12:11] {Threei} 1:1

[12:11] {fernp} ty

[12:11] {Threei} :)

[12:11] {Threei} nice and easy

[12:11] {Threei} unusually easy for such wild animal

[12:12] {Threei} but taming wild animals is very satisfying

[12:12] {Les} damn missed. dinner preperation time

[12:12] {Les} follow through likely?

[12:12] {Threei} lunch time...

[12:13] {Les} k

[12:17] {Threei} attempt at 7.80 will be made now

[12:17] {fernp} are u still in NLST?

[12:17] {Threei} how successful, no way to tell

[12:17] {Threei} no, took scalp

[12:17] {fernp} i fell better

[12:17] {fernp} lol

[12:19] {fernp} fell = feel

[12:22] {Threei} 42% Rate Geithners Performance As Poor

[12:22] {Threei} Twenty percent (20%) rate Geithners performance in these areas as good or excellent.

[12:23] {Threei} ok, starting tally of idiots again

[12:23] {Threei} 20% so far

[12:24] {Les} the federal government employs about 20% of the pop., don't they?

[12:25] {Les} or all state and local authorities combined...

[12:25] {Threei} interesting coincidence if so

[12:30] {magoo} [11:27] {magoo} prob breathe at 7.90 area

[12:30] {magoo} [11:27] {magoo} could be top thee

[12:30] {magoo} [11:27] {magoo} or if takes 8 can go 8.20

[12:30] {magoo} [11:28] {magoo} breahe, the .70

[12:41] {dino} .

[12:42] {nemo} mon

[12:42] {nemo} sorry

[12:44] {fernp} HIG double bottom?

[12:48] {Threei} nah

[12:48] {nemo} If I recollect correctly...Op Ex Friday afternoons are corpse-like

[12:49] {nemo} I'd say limp as a dead fish, but that hits too close to home

[12:54] {nemo} mon increasing volume on this rise, might be .25 break would be stop .15

[12:55] {bkhmd} .

[13:00] {magoo} AWIAV?

[13:01] {Threei} c

[13:02] {Threei} HIG, .75 break looks like valid short trigger

[13:04] {nemo} or .78 break long?

[13:04] {nemo} speak of the devil

[13:04] {BillyD} why nemo long

[13:04] {nemo} DB

[13:05] {nemo} lower volume spike on 2nd bottom

[13:05] {BillyD} resistance up to .83 and no support below .75

[13:05] {nemo} you ever watch dino trade?

[13:06] {BillyD} not really followed

[13:06] {nemo} does a lot of these

[13:06] {BillyD} his entry style

[13:06] {BillyD} different ways to skin a cat

[13:06] {nemo} yep

[13:07] {nemo} now if volume increases w/price here, could be strong move

[13:07] {magoo} crap NLST

[13:08] {dino} you mean quarter breaks?

[13:08] {nemo} huh? don't know what you call them, but you catch turns regularly

[13:09] {dino} lucky sometimes

[13:09] {nemo} Yeah, it only takes the fingers and toes of a combat battalion to count the number of times you've been lucky

[13:10] {dino} i'm wrong alot too

[13:10] {nemo} Billy, if hig holds support here and breaks .82, whaddya' think?

[13:11] {BillyD} I don't like it long beccause I would prefer the clean breakdown with no resistance

[13:12] {nemo} what about if volume were to increase along with price?

[13:12] {dino} i'll tell you where i'm screwing up lately, not booking scalps because i want more. like hitting my head against the wall

[13:12] {nemo} yeah dino, scalps have been winning predominantly, with just enough runners to pull out your fingernails

[13:12] {dino} current examples ne and crmt

[13:13] {BillyD} key is nemo if volume will continue, needs mkt help and foloow thru

[13:13] {dino} you said it nemo

[13:13] {BillyD} break of low of day sparks a little more panic and people sell

[13:13] {dino} tempted to say f it and turn to total scalp mode for month

[13:13] {nemo} right there on that one BIlly

[13:14] {nemo} I mean I'm right there with you on that one

[13:14] {BillyD} we'll see what happens :)

[13:14] {dino} ok vad, close guess dji, +.66

[13:14] {nemo} You watch, I can't look...

[13:15] {BillyD} goes either way or goes nowhere

[13:15] {nemo} definite maybe

[13:15] {BillyD} absolutely :)

[13:16] {dino} cute movie

[13:17] {nemo} what movie?

[13:17] {dino} definitely maybe

[13:17] {nemo} didn't know about it

[13:17] {dino} chick flick, wife rented it

[13:18] {nemo} DE vad?

[13:18] {Threei} .25 is valid long chart wise

[13:18] {Threei} market overall at this point in time, I don't know

[13:19] {nemo} yeah, back and forth

[13:19] {fernp} shorted HIG aggressively .79 stop above .85

[13:20] {ese} have a great weekend all....gotta go...still long fitb.05....i smell money here...cya

[13:21] {dino} cya es

[13:21] {ese} dino

[13:21] {strider} ese:)

[13:21] {Threei} take care ese

[13:21] {fernp} bye ese

[13:23] {Les} bon weekend ese

[13:23] {Les} nlst?

[13:24] {Threei} ?

[13:24] {Les} nope

[13:24] {Threei} what has changed in it?

[13:25] {Threei} still oscillates bteween .50 and .80

[13:25] {Les} .75 break

[13:27] {Les} ?

[13:27] {bkhmd} did u grab it les?

[13:27] {Les} no. burnt once twice shy.

[13:28] {dino} tecd

[13:28] {Threei} how did you get burnt on it?

[13:28] {Les} descending triangle on MA .50 short trigger?

[13:29] {Les} like someone said before. got greedy. had the scalp in the hand and I wanted more

[13:29] {strider} news on TECD? none on the fly

[13:29] {bkhmd} should come back and test .81

[13:29] {Threei} nothing fresh

[13:31] {Les} damn MA good for .10.

[13:31] {dino} vad what say you on the dji close?

[13:31] {strider} QUIZ: Who spoke this line, and in what movie?

[13:32] {strider} "Is cod in fresh season?"

[13:32] {Threei} -35 dino

[13:32] {strider} hint: was a language barrier.

[13:32] {dino} +66

[13:32] {Threei} beer?

[13:33] {strider} is that your answer?

[13:33] {Threei} I am -1 on beer, gotta get even

[13:33] {fernp} stopped HIG

[13:36] {dino} ok

[13:41] {Les} ascending triangle forming on nlst

[13:41] {Les} .85 break?

[13:42] {Threei} Les

[13:42] {Threei} NLST is momo

[13:42] {Threei} momos rarely obey technicals

[13:42] {Threei} razre cases when they do I call

[13:42] {Threei} like that .50 break

[13:42] {Les} k

[13:43] {Les} so you won't bite?

[13:43] {Threei} bite as in trade it or call it?

[13:43] {Threei} call - no

[13:43] {Threei} I do not make calls on momos other than define them as such

[13:43] {Threei} or in one of those rare cases

[13:44] {Threei} when they provide relatively low risk high odds opportunity

[13:48] {strider} AMZN hod

[13:48] {Threei} attack on 8 is imminent

[13:49] {strider} futs

[14:00] {Les} fas b/d?

[14:01] {Les} descending triangle.

[14:01] {Threei} not my kind of setup

[14:01] {Threei} sharp spike, pullback on decereasing volume

[14:01] {Threei} typical bull flag

[14:02] {dino} what to do what to do

[14:04] {Threei} see it now Les?

[14:05] {strider} market closed next friday, or just thursday}?

[14:05] {dino} just thursday

[14:05] {nemo} thurs

[14:05] {Threei} but you can imagine what kind of trading we get on Friday

[14:05] {dino} not allowed to be closed more than 3 days in row

[14:05] {Les} yeh. didn't think of bull flag

[14:06] {strider} something like this afternoon?

[14:06] {Threei} don't look at the last "piece" of chart in isolaion

[14:06] {Threei} view bigger pictuire

[14:06] {Threei} then you'll have better idea of how this piece plays in overall situation

[14:06] {Threei} everything is part of mosaic

[14:07] {dino} out ne +.27, out crmt +.25, out ctrp +.49

[14:08] {BillyD} gj dino

[14:08] {dino} ty, tired of watching them drop bacl to entries

[14:09] {BillyD} sometimes prudence is best

[14:09] {nemo} Dear Prudence

[14:10] {dino} lol

[14:10] {Les} b/o coming in MON?

[14:11] {strider} Patience is good also.

[14:11] {nemo} there's a setup

[14:11] {Les} .95 trigger?

[14:12] {nemo} would be break, yeah, but had a helluva up move

[14:12] {Threei} could be...

[14:12] {Threei} MON has a chance

[14:12] {fernp} fourth week ending in positive. Thank you vad, I was not used to it. ty again

[14:12] {fernp} gotta go. have a nice weekend everybody. see you all on monday

[14:12] {nemo} invalidated under 80

[14:12] {Threei} fern...

[14:12] {Threei} helluva result for someone who hates so many stocks :)

[14:13] {Les} ciao

[14:13] {Threei} glad to hear, have a great weekend

[14:13] {fernp} lol. you too

[14:13] {nemo} spy might be topping out

[14:13] {dino} of course, now ne continues

[14:13] {dino} ctrp too

[14:14] {dino} cya fern

[14:14] {magoo} nice fern

[14:14] {strider} fern:)

[14:15] {nemo} mon invalidated

[14:15] {Threei} yup

[14:16] {Threei} good job by fern, amazing consistency

[14:16] {Les} would it have been appropriate to fade? tried to but was late to party.

[14:16] {Threei} he is a scalper mostly, and last month was a scalper's market

[14:17] {nemo} got delining volume on cat vs increasing price action

[14:18] {strider} short amzn .76, stop hod

[14:20] {ilana} your favorite GLD - .60 breakdown?

[14:20] {nemo} i hate gld :)

[14:21] {Threei} not sure about it here

[14:21] {Threei} pretty random

[14:21] {nemo} I'm not seeing stocks match the pullback in the indexes

[14:24] {patience} it took me 3 hours, 20 minutes to scalp .30 on yamana gold.....not a quickie

06[14:25] * Threei makes a mental note: do not turn to AUY for a quickie

[14:29] {Les} MA wants to go up

[14:30] {BillyD} something about NLST chart at .75 w/ large offer looks appealing

[14:31] {strider} out amzn -.03

[14:36] {Threei} RIMM...

[14:36] {Threei} wstching if consolidates better near 60

[14:36] {nemo} the volume spike?

[14:41] {magoo} only prob is buying the high

[14:41] {Threei} if NASDAQ spikes again from here, .60o will be a valid trigger

[14:41] {Threei} if holding above .90 meanwhile

[14:43] {Threei} watch it here

[14:43] {Threei} if markert reverses from here, .90 becomes trigger for bounce

[14:43] {BillyD} bull flag

[14:44] {Les} wfmi

[14:47] {BillyD} you in vad

[14:47] {strider} in .91

[14:47] {Threei} no

[14:47] {Threei} feels too random and market doesn't show any support

[14:47] {strider} I did it on FAS spike

[14:47] {BillyD} ok

[14:48] {Threei} FAS is not really a lead for RIMM

[14:51] {dino} bd, nemo, see my issues, ne, crmt, ctrp all could have been double. driving me nuts

[14:51] {strider} out .83

[14:51] {BillyD} dino, do you partial?

[14:52] {strider} Vad, when you say to follow the market, what are you looking at? Does an uptick on 1min. count?

[14:52] {Threei} if it's in a chart context, sure

[14:52] {nemo} wow, ctrp

[14:52] {Threei} overall, directional support

[14:52] {strider} ?

[14:52] {Threei} simple things like:

[14:53] {Threei} do you want to buy a breakout while market downticks sharply?

[14:53] {strider} but it

[14:53] {Threei} or if hunting for bounce,

[14:53] {dino} no bd,

[14:53] {strider} it's the 'market downticks" that I'm asking about.

[14:53] {Threei} if your stock stabilized

[14:53] {strider} what is it for the market to downtick.

[14:53] {nemo} what's bd

[14:54] {Threei} hmm?

[14:54] {dino} billyd

[14:54] {Threei} sorry, you lost me

[14:54] {BillyD} that would be me nemo

[14:54] {nemo} got it

[14:54] {nemo} was looking for stock

[14:54] {BillyD} lol

[14:54] {strider} you say "while market downticks". I'm trying to understand what that means.

[14:54] {Les} ctrp about to b/d?

[14:54] {nemo} moving down strider

[14:55] {Threei} dcownticks is dowticks

[14:55] {Threei} prints lower

[14:55] {Threei} bids drop, asks follow

[14:55] {Les} stupid question after such gains...

[14:55] {strider} so you're watcching T&S, rather than chart?

[14:55] {strider} or both.

[14:55] {Threei} market was till dropping while RIMM touched .90 and broke it by a cent or two

[14:55] {nemo} look at indexes les...kinda going with them ato the moment

[14:56] {Threei} chart is one min, sometimes it's not enough for fast play like this

[14:56] {Threei} T&S runs next to chart

[14:56] {strider} right

[14:56] {dino} and t&a is afterhours (couldn't resist)

[14:57] {nemo} Frickin friday funfest

[14:57] {strider} so, if RIMM had touched .90, at the same time as a futs uptick, you would have bought?

[14:57] {strider} or broke .90

[14:58] {Threei} probably

[14:58] {Threei} hard to answer hypotetical

[14:58] {Threei} depends on chart formation at tghe moment,

[14:58] {Threei} depends on how far from .90 it bottomed,

[14:58] {BillyD} it comes down to feel with all the indicators Strider

[14:59] {Threei} how it came back, sharply or slowly climbing

[15:01] {strider} I'm just trying to understand what you're making your decisions on when you say: if holding above .90 meanwhile

[15:01] {strider} [14:43] {&Threei} watch it here

[15:01] {strider} [14:43] {&Threei} if markert reverses from here, .90 becomes trigger for bounce

[15:02] {Threei} those are two different comments

[15:02] {Threei} first was for 60 break if holding above .90

[15:02] {strider} sorry...grabbed too much.

[15:02] {Threei} when it got invalidated, it turned into bounce setup instead of break setup

[15:03] {strider} right

[15:04] {strider} so the question is about: "if market reverses from here." I'm trying to understand how you make that decision.

[15:05] {strider} An uptick doesn't seem like a market reversal.

[15:06] {Threei} not without context

[15:06] {Threei} look at it this way

[15:07] {Threei} market consolidates under the breakout level, then upticks above it

[15:07] {Threei} another case:

[15:07] {Threei} market drops sharply, then makes one uptick

[15:07] {Threei} are those uopticks the same or different in their respective contexts?

[15:08] {strider} They're very different.

[15:08] {Threei} right

[15:08] {Threei} in first case it's meaningful

[15:08] {Threei} in second, it's very likely to be "accidenatl"

[15:08] {Threei} non- event in a sense of defining the direction

[15:08] {Threei} now, third case

[15:09] {Threei} market drops sharply,

[15:09] {Threei} makes a few upticks

[15:09] {Threei} drops again, hold support of previous drop

[15:09] {Threei} and stat upticking again

[15:09] {Threei} is there significance to it?

[15:09] {strider} Yes

[15:09] {strider} holding support

[15:09] {Threei} right, double bottom is likely forming

[15:10] {Threei} so, you have a context now to that comment

[15:10] {strider} Maybe one mistake I've been making is using line charts for futs indicators.

[15:10] {Threei} if I say market reversing

[15:10] {Threei} and one uptick reversal makes not

[15:10] {strider} right

[15:10] {Threei} ... :)

[15:10] {Threei} I prefer bar charts

[15:10] {Threei} cnadles

[15:10] {Threei} candles

[15:11] {Threei} not line

[15:11] {strider} yeah. Easier to see patterns. Used to looking at them.

[15:12] {strider} Is the QQQQ as good as Naz futs for leading indicator? Or not quite as good?

[15:12] {Threei} nah, same thing

[15:12] {strider} And DIA and SPY}

[15:12] {strider} ?

[15:12] {Threei} yes, just for diff markets

[15:13] {strider} OK. THanks. I've been hampering myself by not seeing ordinary chart patterns in the QQQQ--because I was using line chart for it.

[15:13] {BillyD} nlst selling

[15:14] {strider} Was just seeing general directional trends.

[15:17] {BillyD} dino, NE got enough for play if crosses .50

[15:18] {dino} looks so

[15:19] {Les} aig dropping

[15:21] {nemo} wanna' big C&H vad....tck

[15:21] {dino} rally monkey

06[15:21] * nemo slaps dino around a bit with a large monkey

[15:22] {Les} hgsi consolidating?

[15:23] {Threei} I like overall look of TCK

[15:23] {dino} lol

[15:23] {Threei} not HGSI

[15:24] {BillyD} AIG didn't participate with the mkt spike , may be short off 35

[15:24] {dino} crmt trying to break up

[15:24] {dino} dish has been odd, drops wed 2+ and sits in 35 cent range for two days

[15:25] {dino} nuva hl l .00

[15:27] {nemo} alota order at 34

[15:30] {Les} tck trigger?

[15:31] {Threei} you believe in breakout and run here?

[15:31] {dino} ok 3i 60 pts up for me or 30 down for you

[15:31] {Threei} then this is your trigger, right here

[15:32] {nemo} I think the ppt wants it positive

[15:32] {Threei} sigh

[15:34] {strider} AIG continues to look weak, Billy

[15:35] {Les} someone likes MA

[15:35] {dino} crmt hl l .00

[15:36] {bkhmd} have a good weekend all

[15:36] {bkhmd} thanks VAD for today

[15:36] {strider} see ya bk

[15:36] {Les} cheers

[15:36] {dino} cya bk

[15:37] {Threei} take care bkh

[15:37] {dino} bk=black knight i guess

[15:37] {BillyD} I wanted it to stay under .10 Strider, my preference though

[15:38] {dino} nuva to .24

[15:39] {dino} out +.24

[15:40] {dino} ctrp hl l .00 trig

[15:42] {dino} wall of china at .00

[15:42] {nemo} ba da bum

[15:43] {dino} yabba dabba doo

[15:43] {nemo} wall of china, chinese travel company...sheesh

[15:43] {dino} giddyup

[15:43] {dino} lol didn't think of that

[15:43] {Threei} TCK if you went for it feel free to take profit here

[15:43] {Threei} likely to pullback now

[15:44] {dino} these .25 mutliple triggers are not what they used to be

[15:45] {nemo} you mean break of .25 .50 .75, etc?

[15:46] {dino} and .00 yes, they used to be pretty reliable

[15:47] {dino} now they are about as useful as humpty dumpty

[15:48] {nemo} yeah, easy targets for algo programs

[15:48] {dino} stopped -.10

[15:48] {Threei} TCK quite obeying

[15:49] {Threei} or obedient

[15:49] {Threei} or whatever

[15:49] {dino} you short it?

[15:49] {Les} thought of fading, but noted you said "Likely" to pull back, not surely. don't know when pullbacks can be faded...

[15:50] {dino} rinsed again

[15:50] {Threei} no dino, alerted earlier about closing long around .74

[15:50] {dino} yes, saw that

[15:52] {dino} ugh ctrp

[15:52] {BillyD} CTRP too spikey for tight stops

[15:52] {dino} decides to go against market all sudden

[15:52] {strider} don't care what vad says, there's a 'they' out there doing that stuff, dino.

[15:52] {BillyD} yeah and not with it earlier

[15:53] {Threei} and even if you are paranoid, it doesn't mean they are not watching you

[15:53] {strider} damnm right.

[15:54] {Les} ha. and on that witty note I shall take my leave. bon weekend everyone

[15:54] {Threei} take care les

[15:54] {nemo} yeah frohes Wochenende

[15:54] {dino} yeah i think magoo has group countering my trades

[15:54] {strider} nemo, you're babbling again

[15:55] {dino} cya les

[15:55] {BillyD} dino, I never took the NE break at .50, it didn't seem to have enough pace to get me a .15 1:1.......at .94 now...lol

[15:55] {dino} i've heard rumors that "they" work for sara lee

[15:55] {strider} hey.....nobody doesn't like Sara Lee.

[15:55] {dino} i see it, i took wrong one ctrp and crmt

[15:55] {nemo} I feel ill

[15:56] {strider} got a wastebasket nearby?

[15:56] {dino} huh

[15:56] {dino} my advice to you nemo, drink heavily

[15:56] {strider} and often

[15:56] {nemo} going to exercise class

[15:57] {dino} and magoo, go on a diet, fat, drunk, and stupid is no way to go through life

[15:57] {Threei} dino, I guess we will have to call it a draw

[15:57] {dino} i believe so

[15:57] {nemo} ahhh...double secret probation

[15:58] {nemo} nah, closer to you Vad then him

[15:58] {strider} See you all Monday.........

[15:58] {Threei} way too far from either to have any significance

[15:59] {nemo} we

[15:59] {BillyD} cya strider and everyone, have a good wknd

[15:59] {nemo} we're talking beer here

[15:59] {strider} Billy:)

[15:59] {dino} crmt holding over

[15:59] {Threei} ok guys, thank you all

[15:59] {Threei} have a good weekend

[15:59] {strider} 3I:)

[15:59] {Threei} see you on Monday

[15:59] {nemo} nighty night

[15:59] {strider} thirty one eye

[16:00] {Threei} that's one scary image

[16:00] {nemo} yeah...optometrists nightmare

[16:01] {Threei} lol

[16:01] {dino} spider

[16:01] {dino} well bowflex time