Underground Trading Pit Sample Log

#TradingPit - Friday, 11.21.2008

[08:28] <Jay> morning gang
[08:28] <Jay> futures gap this morning 60 min make or breaks on the noodles premarket
[08:28] <Jay> options expiration
[08:28] <jbarnes> morning jay
[08:29] <Jay> morning jb
[08:33] <MadDog> gm J, jb
[08:33] <shammer> gm all
[08:33] <MadDog> sorry was in the middle of bouncing C
[08:33] <MadDog> just short of 1/2 dg, good panic coil
[08:33] <MadDog> waited an hour and a half for tha
[08:34] <MadDog> that
[08:34] <jbarnes> gm sham md
[08:36] <Jay> morning md, sham
[08:36] <Jay> wtg md
[08:37] <MadDog> thx, got half my shares a penny from the low which helped a ton
[08:38] <Jay> sharp
[08:38] <MadDog> hate these gap-up mornings, but futures trailing back for a long time helped considerably
[08:38] <MadDog> lot of trepidation by traders heading into that 8 et surge
[08:40] <MadDog> in the category of being in the right place at the right time, was real quiet after hours but DISK was halted for a 2.75 cash buyout
[08:40] <MadDog> sat on the open and threw out 1k of shares at 1.65 6 cents above the pre-halt ask and got hit
[08:41] <MadDog> was able to sell easily from 1.95 to 2.13
[08:41] <MadDog> sometimes these buyout halts pay off when not many traders are aound
[08:41] <MadDog> around
[08:42] <MadDog> like getting a good eBay deal on Xmas day when no one else is bidding
[08:42] <MadDog> sorry pre-halt bid
[08:43] <Jay> gold gap
[08:44] <Jay> aapl 82.60 support premareket
[08:45] <Jay> TRADING ALERT: Consdier a BUY AAPL 82.80s x 82.95 - Always use a protective stop loss!
[08:45] <Jay> trail is 82.50
[08:47] <Jay> 5min trying to mini pup 83 is key resitance break trail 82.60
[08:50] <MadDog> C not moving up with the noodles at all now
[08:50] <Jay> on aapl 82.75 is 5min 5 support now, very tight trails if .65 cracks noodles are in make or breaks
[08:50] <MadDog> not that much of a fade but not too enthusiastic either
[08:51] <Jay> TRADING ALERT: back to cash aapl---
[08:51] <Jay> noodles 1057 not holding up
[08:52] <Jay> in the premarket, have to react much quicker due to the spreads
[08:52] <Jay> aapl shouldnt have been any more than a .20 stop loss max
[08:53] <Jay> remember that the 5 min candles updated on the 5 min mark
[08:53] <MadDog> crummy earnings guide from ADSK after hours
[08:53] <Jay> and thus the 5 period mas also update
[08:53] <MadDog> but in a pretty tight range
[08:53] <Jay> beautiful of premareket is how accurate it is IF u pare attention
[08:54] <Jay> aapl 5min 5 held support great off the 5 min hammer under 81 but it finally cracked
[08:54] <MadDog> my favorite part of the trading day now
[08:54] <Jay> pare = paid
[08:54] <Jay> yes md, less tourists and chop
[08:55] <jbarnes> I trade aapl every morning pre mkt
[08:55] <Jay> thats your baby jb
[08:56] <jbarnes> lol my bread and butter
[08:56] <Jay> noodles 8/13 min are in make or breaks same with 60 min, diverged as 60 min stochs are down
[09:01] <Jay> adsk dumper this morning flat and tight premarket
[09:03] <Jay> wait out the basic dumper strategy which is to let the 3 min 5 catch down and then mini pup or inv pup
[09:08] <Jay> very tight premarket noodles 8/13/60 min ma's no channels
[09:14] <Jay> spy peaked off that stinky 2.60 upper range premareket
[09:15] <Jay> would keep an eye on 60 min noodles lower bbs as exhaustion coil levels if they lean off the open
[09:15] <Jay> 1033 level
[09:19] <Jay> on the flipside
[09:19] <Jay> if they jam to 60 min upper bbs
[09:19] <Jay> thats a fade poinmt
[09:19] <Jay> 1066
[09:21] <Jay> also, if APOL panics to 64.30 x 64 level good for a quickie snap back as that is monthly 5 period ma which still has a mini pup
[09:26] <Jay> will keep an eye on adsk dumper
[09:27] <Jay> noodles 8/13 min make or breaks going into the open
[09:27] <Jay> give the open time
[09:30] <Jay> TRADING ALERT: Consdier a SHORT ADSK 13.25 - Always use a protective stop loss!
[09:30] <Jay> 13.15 x ..25 ok
[09:31] <Jay> 1min mini inv pup
[09:31] <Jay> 12.80s CLIP/pare
[09:31] <jbarnes> aapl +.81 off a perfect 1 min hammer
[09:31] <Jay> TRADING ALERT: ADSK 12.75 x 12.60 LOCK
[09:31] <Jay> wtg jb
[09:33] <jbarnes> beautiful call, watched it but had my hands full lol
[09:33] <Jay> ADSK lock it out
[09:33] <Jay> gotta watch that 1min stochs low bands
[09:34] <Jay> will wait out the 3min 5 from here to see how that plays out
[09:34] <Jay> watching dell
[09:34] <Jay> nada there
[09:35] <Jay> diverging 3/5min charts
[09:35] <Jay> 5min is fading down, 3min tryignto close the gap
[09:36] <Jay> TRADING ALERT: Consdier a SHORT AAPL 81.50s - Always use a protective stop loss!
[09:36] <Jay> 81.30s ioj'
[09:36] <Jay> 1 min slip
[09:36] <Jay> 1 min 50 tests
[09:36] <Jay> 13 min nodles inv pups
[09:37] <Jay> noodles leans
[09:37] <Jay> TRADING ALERT: AAPL back to cash
[09:38] <Jay> small stop for now
[09:38] <Jay> 1 min 50 tuff
[09:38] <Jay> TRADING ALERT: Consdier a SHORT AAPL 81.30 - Always use a protective stop loss!
[09:38] <Jay> 81.30s ok reentry
[09:38] <Jay> noodles 3min 13 min dual mini inv pups
[09:39] <Jay> looking for 1min mini inv pup
[09:39] <Jay> need a 81.25 break here
[09:39] <Jay> TRADING ALERT: AAPL back to cash
[09:40] <Jay> watch those noodles
[09:40] <Jay> coiled off 1047
[09:40] <Jay> TRADING ALERT: COnsdier a BUY AAPL 81.90s - Always use a protective stop loss!
[09:41] <Jay> 1 min coil
[09:41] <Jay> 3/8/13 min mini pups
[09:41] <Jay> Clip/par up to 82.30 coil resitance
[09:42] <jbarnes> three apl trades two long one short +.64
[09:42] <jt5> AMZN...+0.95.....was buy fading
[09:43] <Jay> aapl 1 min 3 min dual mini pup thrusts
[09:43] <Jay> TRADING ALERT: AAPL CLIP/pare 82.08 x .15
[09:43] <Jay> dual mini pup thrusts
[09:43] <Jay> coiled off the 4min 5 for the mini pup
[09:44] <jbarnes> +.27 again love those long candles
[09:46] <jt5> AAPL...+0.75
[09:47] <Jay> TRADING ALERT: AAPL LOCK OUT
[09:47] <Jay> on the rest
[09:47] <Jay> weeeee
[09:47] <Jay> 83.40s x .60
[09:48] <Jay> .75 coil resistnce tests
[09:48] <Jay> while noodles spike
[09:48] <Jay> sheesh
[09:48] <Jay> 84s
[09:48] <Jay> wtg jt, jb
[09:48] <Jay> noodles pivot tests
[09:49] <jt5> nice spikes...thx J
[09:49] <Jay> crazy aapl movement this morning
[09:49] <Jay> spy still choppin in stinky 2.50s levels
[09:50] <Jay> same spot when aapl was chopping low 82s
[09:50] <Jay> go figure
[09:50] <Jay> aapl perfect storm played out
[09:50] <Jay> had the 3/8/13 min mini pups
[09:51] <Jay> noodles 60 min 5 tests overlap with pivot
[09:56] <Jay> noodles rope a dope
[09:57] <Jay> double resitances held
[09:57] <Jay> aapl peaked 8min 50 and 5min full time frame 5
[09:57] <Jay> this is where having those 5min 1min premareket charts really help
[09:57] <Jay> 13 min noodles still in make or breaks
[09:58] <Jay> oops nevermind that last comment
[09:58] <Jay> regarcdxing the 5min 5 mini inv pups, that was the dell chart
[09:59] <Jay> lol
[09:59] <Jay> thanks for catching that error gang ;)
[09:59] <jbarnes> lol
[09:59] <Jay> aapl actually 5 min has a mini pup
[10:00] <Jay> spy sucking wind this morning
[10:00] <jbarnes> made a rimm buy watching a aapl chart yesterday
[10:00] <Jay> c taking a number 2
[10:00] <Jay> lol jb, luckily they moved together yesterday ;)
[10:01] <Jay> c 3s
[10:02] <vanchunks> skf, bgz, srs money pumps this morning
[10:03] <Jay> TRADING ALERT: Consdier a BUY C 3.83 - Always use a protective stop loss!
[10:03] <Jay> 3.90 OK
[10:03] <Jay> plug ur noses
[10:03] <Jay> 4.09 x 15 CLIP/pare
[10:03] <Jay> TRADING ALERT: C Clip/pare 4.12++
[10:04] <Jay> someone just remember to flush
[10:04] <MadDog> woooooohooooooo
[10:04] <Jay> dont forget to wipe
[10:04] <jbarnes> beautiful call
[10:04] <MadDog> out C biiiiigggg at 4.17
[10:04] <Jay> trail 3.85 if pared
[10:04] <Jay> nice md!
[10:04] <MadDog> almost 5x dg
[10:05] <Jay> boooyah
[10:05] <MadDog> lol
[10:05] <Jay> the prince would be proud ;)
[10:05] <jbarnes> wtg md
[10:05] <sol> wtg
[10:05] <MadDog> thank you most honorable one
[10:05] <sol> wish I was trading today :-)
[10:05] <sol> nice calls jay
[10:05] <Jay> pls remember to use soap and cleanse your hands before leaving the bathroom
[10:06] <Jay> tx dol
[10:06] <jt5> sol, why not trading?
[10:06] <MadDog> had so many invisible shares my normal ding ding ding execuions were sounding like Max Headroom
[10:06] <sol> personal discipline. I follow Elder's money management of "if you're ever down 6% during a month... take 2-4 weeks off"
[10:07] <sol> so, I'm in 2-4 weeks off now
[10:07] <jt5> oh,,,,wtg .....very very smart
[10:07] <sol> sucks, but very important to stay in control and disciplined... safety first
[10:07] <Jay> sol, in the downtime, make sure that you are spending it filtering for just the bread n butter 5.1 min dual mini up set ups
[10:07] <Jay> try to screen cpature 2 a day
[10:08] <jt5> discipline is the only way to make it in this game....only way!!!
[10:08] <Jay> also remember something, the difference is ALL in the share allocation, cant stress that enough
[10:08] <MadDog> excellent thinking sol
[10:08] <Jay> you cant be going same shares on every trade and every stock
[10:08] <Jay> kinda like if someone plays 200 shares of aapl and 200 shares of qqqq
[10:09] <Jay> will never be green
[10:09] <Jay> qqqq barely moves compared to aapl
[10:09] <Jay> but susing the same shares is a surefire way to get crushed even if 80% win/loss ratio
[10:09] <Jay> susing = using
[10:09] <MadDog> hard to believe 3.95 on C was only S1 pivot level
[10:10] <sol> all true. thanks for the encouragement
[10:10] <Jay> and C was trying to buy Wachovia
[10:10] <Jay> what a joke
[10:10] <Jay> actually extorting more like it
[10:10] <MadDog> Pandit might be gone within days
[10:11] <MadDog> like this weekend
[10:11] <MadDog> or by lunch
[10:11] <Jay> C lock it out if u got any left
[10:11] <Jay> pos cant even break that 3min 5
[10:12] <MadDog> other financials across the board down in sympathy
[10:12] <jbarnes> rimm +.28 short
[10:12] <MadDog> or at least being held back
[10:13] <Jay> C splat
[10:13] <MadDog> Prince Alaweed should just come over and run the thing
[10:13] <MadDog> would mean a lot of prety ladies in the lobbies
[10:13] <MadDog> prety
[10:14] <MadDog> uh p r e t t y
[10:14] <Jay> did he ever sell his $5 shares for years ago?
[10:14] <Jay> he bot more yesterday
[10:14] <MadDog> not sue
[10:14] <MadDog> sure
[10:14] <MadDog> trying to figure out where S2 support is
[10:15] <Jay> thats what u call a round trip
[10:15] <Jay> 5 to 60 back to 5
[10:15] <Jay> actually im sure theres a split in there somewhere
[10:15] <Jay> c so filthy
[10:16] <jbarnes> excellant MD
[10:16] <jbarnes> sorry about that md
[10:16] <MadDog> I have to remember it closed at 4.71 so not THAT extreme a drop
[10:16] <Jay> i think around 3.25 area md
[10:16] <MadDog> ok thx
[10:17] <Jay> personally, the next real exhaustion long area is if it majorly panics to that stinky 2.50s levels
[10:17] <MadDog> thought about at least taking a k or 2 at 3.68
[10:17] <Jay> 2.50s x 2.40 a good bounce point
[10:17] <MadDog> but I'm wondering if another panic isn; in the books
[10:17] <Jay> if it gets there
[10:17] <jbarnes> walked in and read your 5X comment, for some reason my log didn't update
[10:17] <Jay> they never halt these financial stocks
[10:17] <Jay> but there is always that risk too
[10:17] <MadDog> np, thx jb
[10:18] <tracker> gm guys running late this am. Did I miss anything
[10:18] <Jay> a halt would not be good
[10:18] <MadDog> lol
[10:18] <Jay> morning t
[10:18] <sol> :-) you might've
[10:18] <MadDog> tracker C is trying to remove capitalism from the dictionary
[10:19] <jt5> good spikes and calls by J :)
[10:19] <tracker> :)
[10:19] <Jay> tracker, just the typical market bottom and buying opportunity of a lifetime ;)
[10:19] <Jay> as per cnbc
[10:19] <MadDog> I think Phil LaBeau has reached the end of his frustration rope with the other cnbc people about the auo hing
[10:19] <MadDog> auto thing
[10:20] <tracker> jay, yes heard that on the radio on my drive in :)
[10:20] <Jay> i know how to gave GE
[10:20] <Jay> save
[10:20] <Jay> fire the idiots on cnbc
[10:20] <MadDog> dynamite cnbc?
[10:20] <jbarnes> lol
[10:21] <MadDog> man missed the V drop
[10:21] <jbarnes> I take it you don't like my HERO--mark hanes
[10:21] <MadDog> 1.5 point so ff the reaction low'
[10:21] <MadDog> never thought it would get that low again
[10:21] <MadDog> ff=off
[10:21] <Jay> lol jb
[10:22] <jbarnes> if you can't make it in the legal profession, take your dumb BS to cnbc
[10:23] <Jay> haynes works 2 hours a day, maybe if u call it work
[10:23] <Jay> what recession?
[10:25] <Jay> wonder what they waste paying cramer
[10:25] <Jay> that guy has buried 1/2 the planet
[10:25] <Jay> what more is left
[10:25] <Jay> action alerts portfolio down -44%
[10:25] <Jay> this year
[10:25] <Jay> or is it the charitable trust
[10:26] <Jay> charity is right
[10:26] <Jay> cause it aint for profit
[10:26] <Jay> booyuh
[10:27] <MadDog> boo-hoo
[10:27] <MadDog> new Cramer rebel yell
[10:27] <Jay> how does he not get callers ripping him every day?
[10:27] <MadDog> sure he does
[10:27] <Jay> 'we never screen calls'
[10:27] <MadDog> screeners
[10:27] <MadDog> not sure if you saw it the other day
[10:27] <Jay> they dont screen calls..
[10:28] <Jay> they dont dont take the bad ones...
[10:28] <MadDog> Maria was talking abou the hate emails they've been receiing
[10:28] <MadDog> receiving
[10:28] <vanchunks> skf + 13.15
[10:28] <Jay> they must be referring to cramer's stock calls
[10:28] <MadDog> of course she said they were directed at "the show's guests"
[10:28] <Jay> wtg van
[10:28] <gander> C at 3.70 will need to be put on life support soon
[10:29] <gander> they may not be able to sell stuff fast enough
[10:29] <MadDog> Pandit going to be shot out of a cannon at the close of work today
[10:30] <gander> if so he surely didn't last long
[10:30] <Jay> punt it
[10:30] <gander> lol
[10:30] <MadDog> of course shorts and the lack of an uptick ule are the problems accorcding to him
[10:30] <MadDog> rule
[10:31] <MadDog> anything over 3.90 going to feel like a chase now
[10:32] <MadDog> SRS way outdoing the averages
[10:32] <Jay> so far noodles been a slow bleed this morning
[10:32] <Jay> 1033 would be a good exhaustion bounce level IF they panic it there
[10:33] <Jay> not grind it down to there
[10:34] <Jay> dell not even a gap n crap, a gap and decapitation more like it sheesh
[10:34] <Jay> deGapitation
[10:35] <Jay> gs has been fading decently
[10:35] <Jay> so far being pinned to that 52.50 strike price
[10:35] <Jay> but everytime i mention a gs fade i tend to jinx it too
[10:35] <Jay> like at 57 yesterday
[10:35] <Jay> cramer effect
[10:36] <Jay> something is keeping gs alive in this carnage
[10:36] <Jay> maybe buffett doubling down
[10:36] <Jay> too late to chase but 60 min 5 just under 54
[10:37] <Jay> on an existing 60 min inv pup
[10:37] <gander> a trainload of unhappy Smith Barney brokers about their 401K accounts
[10:38] <Jay> on gs 52.50s support on 5min 5 sloping up 52.88 is 5min 15
[10:38] <gander> "hey, C is a bank, how bad can it get--I'll just keep it all in there"
[10:38] <Jay> that 60 min inv pup is ominous tho
[10:39] <Jay> TRADING ALERT: COnsdier a BUY GS 53.30s - Always use a protective stop loss!
[10:39] <Jay> 1/3 min mini pup thrusts
[10:40] <Jay> TRADING ALERT: GS SCALP 53.50s x .70
[10:40] <Jay> right here
[10:40] <Jay> intot he pops
[10:40] <Jay> SCALP THIS POS
[10:40] <Jay> 52.70s beauty
[10:40] <Jay> 53.70s
[10:40] <Jay> LOCK 53.90 x 54.10
[10:40] <Jay> TRADING ALERT: LOCK GS
[10:40] <Jay> gotta hit it into the pops
[10:40] <sol> wow
[10:40] <Jay> anyone nail it?
[10:40] <Jay> 1/3/5 min mini pups are scalper perfect storms
[10:41] <Jay> fast furious pops
[10:41] <jt5> yep...nailed it....3rd trade on GS....thx J
[10:41] <Jay> 3min upper bb and 50 period ma at .90
[10:41] <sol> GS is such a crazy case... definitely interested to hear the conspiracy stories about this thing once the dust settles :-)
[10:41] <Jay> wtg jt
[10:41] <Jay> and most importantly guys
[10:41] <Jay> 60 min 5 resistance on the INVERSE PUP
[10:41] <Jay> up ehre
[10:42] <Jay> anyone else hit gs??
[10:42] <Jay> u cant be slow getting out gang
[10:42] <gander> goog a weak puppy
[10:42] <Jay> that 60 min inv pup is like penduluum
[10:42] <Jay> just above
[10:44] <Jay> gs rug pull
[10:44] <Jay> once again if u saw that 60 min 5
[10:44] <Jay> that pop was temporary
[10:44] <Jay> in the overall down trend
[10:44] <Jay> pop right to the blade edge of the swinging penduluum
[10:45] <Jay> thats why its sooo important you got those multiple time frames and are aware of what is lurking
[10:46] <dodge> Slb +.40
[10:46] <Jay> this is gonna get choppier today
[10:46] <Jay> options expiration days usually suck despite what most poeple think
[10:47] <Jay> long drawn out deadzone and senseless last hour hi jjinx
[10:47] <Jay> wtg d
[10:48] <dodge> thanks J
[10:48] <MadDog> if anyone else is building an HTPC like me, just saw a preview of Best Buy's Black Friday ad that is going to have the LG GGC-H20L BluRay drive for $99 (reg $149); it only reads BluRay (and HD-DVD, which is nice, since those movies can be had cheap now that the format has been defeated), but writes other DVD and CD formats
[10:48] <MadDog> was about to buy one for $109 on sale until I saw that
[10:51] <Jay> sweet md. i picked up an acer aspire one ultralaptop last weekend $399, amazinghttp://www.microcenter.com/single_product_results.phtml?product_id=0293528
[10:51] <Jay> the $399 model hhas 160 gb hard drive
[10:52] <MadDog> I really like those units
[10:52] <Jay> only 2lbs
[10:52] <MadDog> 90% of what I do via mobile is web surf and email
[10:52] <Jay> problem is still luggin around the mouyse, adapter, mouspad and all the other junk with it
[10:54] <Jay> dell put out a competing ultra laptop
[10:54] <Jay> not even close
[10:54] <MadDog> rumorgoing around that C ma be put on a short -restricted list
[10:55] <MadDog> only 3.85 left, kind of a waste
[10:55] <Jay> noodles nearing that 1033 but this has been a slow grind down
[10:55] <Jay> not looking for an exhaustion pop
[10:55] <MadDog> funny thing is, not really lifting it either
[10:55] <Jay> steer cleer from the falling debris
[10:56] <Jay> let the bodies hit the florr
[10:56] <Jay> stand clear
[10:56] <Jay> this is the level i would have liked for an exhaustion long ... an HOUR AGO
[10:56] <Jay> lol
[10:57] <MadDog> SRS slacker, only 38 off its low
[10:57] <Jay> the slow grinds leave little meat on the bone
[10:57] <shammer> C out last 5k ..long trade averaged +.27
[10:57] <Jay> wtg sham
[10:57] <shammer> had to take stop lost -.15 earlier
[10:57] <MadDog> if futures keep their trend, that might be50 in a few minutes
[10:57] <Jay> dont go to the well too much more on that one
[10:57] <MadDog> wtg sham
[10:57] <shammer> yeah ..I am stepping away
[10:57] <Jay> glad to see you are taking those stops sham! :)
[10:57] <Jay> thats a big improvement
[10:57] <shammer> Went long 80k took -.15
[10:57] <shammer> then went another long 80k +.27
[10:57] <MadDog> yowsa
[10:58] <Jay> now about the share size thing...
[10:58] <MadDog> lol
[10:58] <Jay> puke.
[10:58] <Jay> gotta work on that
[10:58] <Jay> ;)
[10:58] <MadDog> thought I was in big with 20k shares
[10:58] <shammer> yeah Jay, but i am learning to atke stop
[10:58] <Jay> cleanup in aisle 4
[10:58] <shammer> even on 80k size
[10:58] <Jay> true sham
[10:59] <Jay> coulda been a .50 stop in the old days
[10:59] <Jay> or wait... what stop?
[10:59] <Jay> ;)
[10:59] <Jay> please slow it down
[10:59] <Jay> in deadzone
[10:59] <Jay> orderly bloodletting out there
[11:00] <Jay> gs near lod back in the gutter
[11:00] <Jay> that 60 min inv pup playing out
[11:00] <Jay> and more importantly the fact it tested and died off 60 min 5 triggers the mini inv pup
[11:00] <Jay> making it more bearish
[11:01] <vanchunks> out last skf + 19.41
[11:01] <Jay> gs puked right here 1pt
[11:01] <Jay> wow
[11:01] <Jay> wtg van!
[11:01] <MadDog> HIG trying to catch up to C
[11:01] <Jay> gs wow 51
[11:02] <jt5> vc wtg!!!......had an order for 280 but missed it
[11:02] <vanchunks> I'm sure there's alot left
[11:02] <vanchunks> I thought I was late at 270
[11:03] <Jay> see how noodles cant even coil back up off that 1033 breakdown
[11:03] <MadDog> think Warren Buffett might be adding some whiskey to his Pepsi this am while watching his GS ticker
[11:03] <gander> with the BAC merger--MER brokers were saying "whew--we are saved at least"
[11:03] <Jay> slow grinds are painful especially for exhaution attempts
[11:03] <gander> probably not too happy with their stock at 7.40 now
[11:03] <Jay> yes gander, out of the frying pan and into the gutter
[11:04] <gander> and maybe BAC now needs to be saved
[11:04] <Jay> noodles lod
[11:04] <Jay> 1027 coil support overshoots
[11:04] <Jay> we may get some panic capitulation yet
[11:04] <gander> the big getting bigger and uglier
[11:06] <jcoffey> How many times has CNBC said "bottom" today. What a bunch of morons. Fire em all and put CAShin in charge
[11:07] <Jay> yes put gotta put a muzzle on cashin
[11:07] <Jay> he tips everyone off to what is expected
[11:07] <Jay> so it happens too fast
[11:07] <Jay> and then bleeds back down
[11:07] <Jay> pull the plug on the channel
[11:07] <Jay> send that thru congress
[11:07] <dodge> slb +.15
[11:08] <Jay> all cnbc is doing is making the sheep more complacent thinking they are 'educating' the public
[11:09] <gander> "Thanksgiving for the bears-Christmas for the bulls"
[11:09] <Jay> wonderful
[11:09] <Jay> lol
[11:09] <gander> unfortunately all the bulls dies eating turkey
[11:09] <gander> died
[11:09] <Jay> cnbc the morphine channel
[11:10] <Jay> like a morphine drip telling everyone no need to panic
[11:10] <Jay> while the ground is crumbling
[11:10] <MadDog> and someone put mustard seeds in the drip line, which of course, would kill the patient
[11:11] <Jay> dumass bogle on fox talking how the s/p index still out performed all instruments
[11:11] <Jay> what a piece of sh*t
[11:11] <Jay> indexes are RIGGED and JIGGED
[11:11] <Jay> stock underperforms, they kick it out and replace it
[11:11] <Jay> its not a static instrument like a piece of land
[11:11] <Jay> hate hearing that bs
[11:13] <Jay> its like when they were reporting ipos being up 200% meanwhile that was what it was priced at, the market paid 180% above the pricing on the opening
[11:14] <MadDog> DELL lol
[11:14] <MadDog> truth in advertising finally hit that one
[11:14] <Jay> 8 min noodles hammer testing 5 period ma
[11:15] <Jay> TRADING ALERT: Consdier a BUY AAPL 81.70s - Always use a protective stop loss!
[11:15] <Jay> 81.60s ok x 81.50
[11:15] <Jay> 13 min noodles hammer as well
[11:16] <Jay> SCALP 81.90s
[11:16] <Jay> 81.99 at best
[11:17] <Jay> TRADING ALERT: AAPL SCALP 81.85 x .95
[11:17] <Jay> 1 min mini pup thrusts here
[11:17] <jt5> scalped it..thx J :)
[11:17] <Jay> right here
[11:17] <Jay> TRADING ALERT: AAPL SCALP OUT
[11:18] <Jay> right here
[11:18] <Jay> 1 min mini pup thrusts
[11:18] <Jay> into the pops
[11:18] <Jay> pinpoint surgical sslapel
[11:18] <Jay> right here
[11:18] <Jay> resitance just above
[11:18] <Jay> wtg jt
[11:18] <jt5> J..:)
[11:18] <Jay> just wanted to play a 1 min mini pup to 13min 5
[11:18] <Jay> based on noodles 8/13 min hammers
[11:19] <Jay> 82 x 82.10 lock it if still in
[11:19] <Jay> truiple resitsance here
[11:20] <Jay> noodles 13 min 5 tests
[11:21] <Jay> no chasing up here
[11:22] <Jay> some decent scalps this morning
[11:22] <Jay> slowing it down
[11:22] <Jay> its a friday options expiration
[11:22] <Jay> do not overtrade
[11:22] <Jay> try to end the week on a green note
[11:22] <Jay> will probably look to call it an early day
[11:23] <Jay> normally would wait thru deadzone and hit last hour
[11:23] <Jay> last 30 mins
[11:23] <Jay> but options expiration throws a wrench into that
[11:24] <Jay> noodles nearing 60 min 5 on the bounce
[11:38] <Jay> noodles make or breakjs
[11:38] <Jay> on 8/13 min
[11:38] <Jay> deadzone creeping in
[11:39] <Jay> will pop in and out of room here, no rush to trade anything
[11:39] <sol> nice morning jay
[11:41] <dodge> oih nice grind
[11:41] <dodge> dia too
[11:56] <dodge> Slb +.21
[11:56] <jt5> nice d
[11:57] <dodge> thanks jt
[11:57] <jt5> u in better rythm today ehh?
[11:58] <MadDog> wtg d
[12:09] <MadDog> is anyone using the Dell 24" 2408WFP LCD monitor?
[12:10] <dodge> Yes - got hammered yesterday - mainly on the idea it is a good swing and picked up a bunch - trading is fine - thanks
[12:11] <jt5> d :)
[12:14] <MadDog> man LVS must be having a time with its debt covenants at this point
[12:15] <MadDog> looks like Adelsons have lost about half their recent add'l investment
[12:40] <dodge> grind xom come on big fella --
[13:09] <MadDog> in honor of booboo's absence, I'll mention this
[13:09] <MadDog> cnbc interruptus maximus
[13:14] <dodge> slb +.12
[13:16] <MadDog> wtg d
[13:21] <MadDog> almost a perfect day out there today . . . oil still going down, but dodge's retirement XOM going up
[13:22] <MadDog> well, not at the moment, but at least for the day
[13:30] <dodge> Slb +.22
[13:31] <MadDog> Texas Profit Machne
[13:31] <MadDog> MAchine
[13:31] <dodge> lol just a smidge shy of 2x
[13:40] <Jay> market cant get a foothold
[13:40] <Jay> noodles peaked last ramps at 60 min 15 and pivot
[13:43] <Jay> bunch of chop here
[13:53] <MadDog> V new low
[13:54] <MadDog> nearing 52 week low of 43.74
[13:54] <MadDog> set during the uber panic a month or so ago
[13:56] <Jay> noodles back to 60 min lower bbs
[13:57] <Jay> aapl retesting near lows
[13:57] <Jay> TRADING ALERT: Consdier a SHORT AAPL 80.20s - Always use a protective stop loss!
[13:57] <Jay> 60 min has a mini inv pup
[13:57] <Jay> looking for an 80 break attempts
[13:58] <Jay> if scalping wise to trim scalper sizes near 80.10 and trail rest light
[13:58] <Jay> aapl 80 ests
[13:58] <Jay> noodles elaasn
[13:59] <Jay> TRADING ALERT: AAPL clip/pare 79.92 x .85
[13:59] <Jay> TRADING ALERT: AAPL LOCK 79.70 x .60
[13:59] <Jay> 79.60 x .50 is stinky 5s coil supporta
[14:00] <Jay> anyone hit aapl?
[14:00] <Jay> 79.50s primo exits
[14:01] <shammer> appl +.30
[14:01] <Jay> wtg sham
[14:01] <shammer> also covered short SLG averaged +.55
[14:01] <tracker> cover ma +1.10
[14:01] <Jay> wtg tracker
[14:01] <shammer> Just 18k
[14:02] <shammer> Sorry Jay ..
[14:02] <Jay> lol
[14:02] <shammer> going back to 1k share
[14:02] <Jay> if u feel comfy with the size sham, but remember this...
[14:02] <Jay> you need to control it
[14:02] <Jay> not let it control you
[14:02] <Jay> that means u dont start off adding size on size on size until it turns back in your direction
[14:03] <shammer> I have been confort with large size for this week...had no issue taking stop on 20/50k size
[14:03] <Jay> on aapl watching 60 min 5
[14:03] <Jay> on aapl any spikes near 81 will look for exhaustion
[14:04] <Jay> TRADING ALERT: Consdier a SHORT AAPL 80.30s - Always use a protective stop loss!
[14:04] <Jay> 80.20s ok
[14:04] <dodge> slb out +.02
[14:04] <Jay> noodles 60 min 5 tested
[14:05] <tracker> wtg d :)
[14:05] <dodge> grrrr should have held that one a little longer - lol
[14:05] <dodge> tracker :-)
[14:06] <Jay> will ADD on AAPL closer to 60 min 5
[14:09] <Jay> they trying to hold that 80.40 coil support back to cash for now---
[14:09] <Jay> TRADING ALERT: AAPL back to acsh 80.40s for now - Always use a protective stop loss!
[14:09] <Jay> 80.40s back to cash for now , noodles 13 min hammer and rising 3min 5
[14:10] <Jay> would rather reshort it closer to 81 the 60 min 5
[14:10] <Jay> just for a quickie exhaustion since 8 min trying to mni pup and 13min trying to actually coil here
[14:11] <Jay> TRADING ALERT: Consdier a BUY AAPL 80.55 - Always use a protective stop loss!
[14:11] <Jay> trail 80.30
[14:12] <Jay> 1 min 3 /5 8 min mini pups
[14:12] <Jay> scalpers perfect storm
[14:13] <Jay> TRADING ALERT: AAPL back to cash
[14:13] <Jay> small stop
[14:13] <Jay> too choppy here
[14:13] <Jay> 1033 noodles slip 1 min may be peaking better safe than sorry
[14:15] <Jay> chop
[14:17] <Jay> worthless make or breaks
[14:18] <shammer> GS short +.55
[14:18] <Jay> wtg sham
[14:18] <Jay> nice peak off that 60 min 5
[14:21] <Jay> TRADING ALERT: Consdier a SHORT AAPL 80.85 x .95 - Always use a protective stop loss!
[14:21] <Jay> 80.90s ok
[14:22] <Jay> looking for 80 .75 x .65
[14:23] <Jay> TRADING ALERT: AAPL scalp 80.75 x 80.65
[14:24] <Jay> here ew go
[14:24] <Jay> anyone hit the scalps?
[14:25] <Jay> 80.60 is a coil suppor stinky 5s .75 coil support gotta hit the panic on 1min slips since the friggin 3/8 min are MINI PUPS
[14:26] <Jay> gs really holding that 60 min 5 resistance firm
[14:26] <Jay> aapl tagged its 60 min 5
[14:26] <Jay> and no break
[14:26] <Jay> TRADING ALERT: Consdier a SHORT AAPL 80.80s - Always use a protective stop loss!
[14:26] <Jay> sit tight on this one GS a role model here
[14:27] <Jay> 80.40s trim
[14:27] <Jay> 80.40 was prior support
[14:27] <Jay> remember that
[14:27] <Jay> aapl 1 min mini inv pup slips
[14:28] <Jay> TRADING ALERT: AAPL CLIP/pare 80.62
[14:28] <Jay> trail 81 breaks now
[14:29] <Jay> TRADING ALERT: AAPL trim out more 80.46 x .41
[14:29] <MadDog> C back down to lod
[14:29] <MadDog> GS as well
[14:29] <Jay> TRADING ALERT: AAPL LOCK 80.22 x 80.10
[14:30] <Jay> 1 min lower bbs
[14:30] <Jay> MINI INV PUP oscillation DOWN
[14:30] <Jay> did any single friggin person play that trade?
[14:30] <Jay> if not, gonna call it a day
[14:31] <dragonfly> yes
[14:31] <Jay> i just figure last hour is gonna be friggin chop hijinx
[14:31] <Jay> wtg dragon
[14:31] <gander> C acts like it may not make it thru the weekend in one piece
[14:31] <Jay> what i dont want is traders to feel desperate they didnt play alerts and then go heavy in last hour and get chopped to hell
[14:32] <dodge> way past that - eating ribs now :-)
[14:32] <Jay> those GS 40 put buyers trying to get their moneys worth sheesh
[14:32] <Jay> lol d
[14:32] <Jay> TRADING ALERT: Consdier a SHORT GS 49.15 - Always use a protective stop loss!
[14:33] <Jay> this one has a 60 min min inv pup
[14:33] <Jay> and inv pup
[14:33] <Jay> with daily mini inv pup
[14:34] <Jay> with a 1 min mini inv pup \
[14:34] <Jay> 48.70s clip/pare to mid 48s
[14:34] <Jay> TRADING ALERT: GS CLIP /pare
[14:34] <Jay> 48.60s x .40s
[14:34] <Jay> weeeeee
[14:34] <Jay> 48.30s
[14:35] <MadDog> uggh
[14:35] <Jay> TRADING ALERT: GS LOCK 48.30s x .30s
[14:35] <Jay> wow
[14:35] <MadDog> CA treasurer seeking Fed aid for muni maket
[14:35] <Jay> anyone hit that??
[14:35] <dragonfly> nice
[14:35] <Jay> pivot there at .30 fyi gang
[14:36] <Jay> shammer, did u hit that gs ?
[14:36] <Jay> slow it down now gang
[14:36] <tracker> cover gs +.80
[14:37] <Jay> beauty tracker
[14:37] <Jay> that was dangerous
[14:37] <tracker> not bad - missed the bottom had a customer walk in was short at 49.71
[14:38] <Jay> customer is always right ;)
[14:38] <Jay> even if timing is wrong
[14:38] <Jay> hehe
[14:38] <shammer> that was nice call Jay
[14:38] <Jay> tx sham
[14:38] <tracker> lol
[14:38] <shammer> GS +.55 on first short , then went new short on pull back +.50 ons econd short
[14:39] <Jay> wtg sham
[14:39] <tracker> nice sham
[14:39] <Jay> PLEASE trim the size
[14:39] <Jay> hate to be caught on the wrong end of GS
[14:39] <Jay> from here foward
[14:39] <shammer> going just 1k
[14:39] <Jay> good, dont be raising that size ;)
[14:40] <Jay> put the hulkster to bed, he is done for the day
[14:40] <Jay> be mild mannered shammer with light shares from here on
[14:40] <Jay> no more gamma rays pls
[14:40] <Jay> 13 min noodles mini inv pup and 60 min noodles mini inv pup
[14:40] <shammer> Sure Jay..will do jusy 500 to max 1k
[14:41] <Jay> man this market has chronic halatosis
[14:41] <shammer> wow look at C
[14:41] <Jay> on C panics to 2.60 x 2.50 level
[14:41] <Jay> IF it happpenes
[14:41] <Jay> good for an initial exhaustion coil
[14:41] <Jay> IF biG IF
[14:42] <Jay> 2.40 would be ideal
[14:42] <Jay> noodles lod
[14:42] <Jay> dow only down -86pts
[14:42] <Jay> feels like -500
[14:43] <Jay> we need cramer to call another bottom
[14:44] <Jay> only he can get capitulation going
[14:44] <Jay> contrarian indicatorxom
[14:44] <MadDog> might have had more money on that C coil if I hadn't head Cramer say it might go to 1 or 2 and subsequently bailed
[14:44] <MadDog> heard
[14:44] <Jay> xom up today so market is free to rally
[14:44] <Jay> lol
[14:46] <Jay> gang
[14:46] <Jay> gonna call it a day by 3pm
[14:46] <Jay> would not stick around for last hour
[14:46] <Jay> who knows what kooky sh*t they pull
[14:47] <Jay> if u trade last hour please watch the size
[14:47] <Jay> do not go heavy
[14:48] <MadDog> he ain't heavy, he's my shammer
[14:49] <gander> lol
[14:49] <tracker> out ma +.35
[14:49] <MadDog> Colorado Profit Machine
[14:51] <MadDog> speaking of newly paid-for snowplows
[14:51] <MadDog> wonder what happened to boo today
[14:51] <Jay> ok gang, calling it a day and week. have a relaxing weekend all. newbies please read up the trader training section so u know what a mini pup is
[14:51] <Jay> cyall bright n early monday
[14:51] <Jay> poooooof
[14:51] <MadDog> cya J
[14:51] <tracker> cya j
[14:52] <MadDog> normal 50+ range on SRS today
[14:52] <MadDog> going to miss this one when market recovers
[14:52] <MadDog> since I can't short it
[14:54] <MadDog> per FT, C board locked in talks
[14:54] <MadDog> probably have Pandit in a headlock
[14:55] <MadDog> poor guy, got handed a bowl of rotten lemons
[14:56] <MadDog> Stan O' Neal came out of this whole thing smelling like a tose
[14:56] <MadDog> tossed from MER before his golden parachute could get quesioned
[14:56] <MadDog> questioned
[14:56] <MadDog> tose=rose
[15:00] <MadDog> market pop might happen on this Geithner news
[15:00] <MadDog> ust on the novelty
[15:00] <MadDog> just
[15:00] <MadDog> although those 2 green candles might be it
[15:01] <MadDog> ok 3 lol
[15:06] <dodge> oih grind
[15:07] <dodge> should have bought some pot this morning
[15:07] <tracker> out ma +2.10 on the ramp
[15:07] <dodge> wtg---
[15:09] <tracker> ty dodge
[15:09] <MadDog> frigin SRS driving me nuts trying to catch a bottom
[15:09] <MadDog> don;t know you can play this thing even with 100 shares
[15:10] <MadDog> accidentally got 150 that time instead of my normal 50
[15:10] <MadDog> wtg t
[15:13] <dodge> nice grind on the Dia
[15:14] <dodge> squeeeeze
[15:15] <tracker> out ma +2.25 on that squeeze
[15:15] <MadDog> arrrggghhhh
[15:15] <MadDog> missed a great one by a hiar there lol
[15:15] <MadDog> hair
[15:16] <dodge> tracker - sweet - yoiur on a roll
[15:16] <dodge> your
[15:19] <tracker> ty d
[15:21] <MadDog> peak to trough on the Geithner news, SRS dropped 38 points, 295.36 to 257.20
[15:21] <MadDog> bounced 15 thus far
[15:24] <shammer> JPM long avearged +.45 , then took stop -.22 on second long then went short averaged +.60
[15:24] <MadDog> nice
[15:24] <MadDog> way to be nimble
[15:25] <shammer> Did i heard right..someone on CNBC said there are large sell order will be coming before closing for C..
[15:25] <shammer> anyone heard that?
[15:26] <MadDog> no
[15:26] <dodge> go slb
[15:26] <MadDog> be careful if it was MAria
[15:26] <MadDog> she has a fascination with orders on close
[15:26] <shammer> yes it was Maria
[15:27] <MadDog> market in squeeze mode now
[15:27] <shammer> But she has been right for the past 3 times when i follow here
[15:27] <MadDog> right on what
[15:27] <shammer> JPM and GS are in divergence
[15:28] <shammer> she was right 3 times that for the past week when she call for large sell or buy order coming before closing
[15:28] <MadDog> only 2 things will matter inlast 15 minutes imo
[15:28] <MadDog> futures and options expiring
[15:29] <MadDog> Maria is looking at a board that has orders listed
[15:29] <MadDog> those can get yanked in seconds
[15:29] <MadDog> total crap shoot
[15:29] <shammer> oh..thx MD
[15:33] <MadDog> grrrrr
[15:34] <MadDog> blew a SRS bottom again
[15:35] <MadDog> got a decent entry at 257.`8 but got fooled by the last noodles candle
[15:35] <MadDog> 257.18
[15:35] <MadDog> had to read this squeeze right now
[15:35] <MadDog> hard
[15:35] <MadDog> briefing noting that shorts have been skittish the last hour waiting for a possible squeeze on C or JPM
[15:39] <tracker> out ma +2.01
[15:39] <MadDog> nice t
[15:40] <dodge> YEHAAAA - 3k slb swing from yesterday -- out +.28, +.27, +.40 yessssss
[15:41] <MadDog> wtg d, patience paid off
[15:41] <shammer> wow..JPM long +.50 +.15
[15:42] <MadDog> wtg sham
[15:42] <shammer> then went heavy short +.40 +.75
[15:42] <MadDog> nice
[15:42] <MadDog> personally I'm glad we had a bit of a squeeze
[15:42] <shammer> this works twice so far
[15:42] <dodge> My religious mode probably helped too plus sacrificing all those chickens
[15:42] <shammer> so i leave it along now
[15:42] <MadDog> feel different about bear markets and their rallies than capitulations in bull markets
[15:43] <MadDog> lol d
[15:43] <dodge> just shy of 4x now
[15:43] <MadDog> good job
[15:44] <dodge> boy was I sweating that last night
[15:45] <shammer> JPM has been trading like crazy..GS has been solid up trend since the market turn around
[15:45] <dodge> thanks MD
[15:47] <dodge> just noticed xom +5.88 sweettttttttt
[15:48] <MadDog> ywp, and oil only up a buck, good combo
[15:48] <MadDog> yep
[15:49] <vanchunks> hig + .15 avg, seems like a laggard to ALL and PRU
[15:49] <MadDog> hey for once Kudlow can blame a rise on OBama
[15:49] <MadDog> wtg van, suyrprised it didn;t move better than that
[15:49] <vanchunks> me to I was expecting more, but got enough for dessert, 3 for 3 today
[15:50] <MadDog> prob just due to still concern about C over all the financials and insurers over the weekend
[15:56] <dodge> looks like I should have held some of that slb - just too glad to be green
[15:57] <dodge> Rig made a nice run too
[15:57] <dodge> go xom sweet
[15:59] <dodge> nice eod made my weekend
[15:59] <shammer> wow...5 long sclap on JMP averaged +.60 on light shares
[15:59] <dodge> wtg sham
[16:01] <shammer> what a day..
[16:01] <shammer> down $14K on my first bad trade
[16:01] <shammer> then ended up $23k up
[16:02] <shammer> not bad
[16:02] <shammer> traded around 300k shares...
[16:02] <shammer> My broker is very happy with me ..
[16:05] <MadDog> just a litle over 5.5x dg today
[16:05] <MadDog> worn out
[16:05] <dodge> wow I amagine - you trade a lot of shares compared to my 18k traded today - lol
[16:06] <dodge> MD congratulations buddy - wtg
[16:06] <MadDog> tyhx, SRS may be done for now
[16:06] <MadDog> thx
[16:06] <MadDog> huge tank at the end on this squeeze
[16:07] <MadDog> barely got out of my last trade on it
[16:07] <dodge> still 4x on trades but fixed positions nice a nice pop
[16:07] <MadDog> excellent d
[16:08] <MadDog> ok have a great weekend eeryone, watch for news on C
[16:08] <MadDog> or lack of it
[16:08] <dodge> wow - spoke to the friend that turned me on to SRS - he picked up 18 points yesterday on 250 shares - impressive
[16:08] <shammer> Have a greate weekend everybody..
[16:08] <dodge> later guys
[16:09] <MadDog> almos a 50 point dop in the last 20 minutesa
[16:09] <MadDog> drop
[16:09] <MadDog> on SRS that is
[16:09] <dodge> wow
[16:09] <MadDog> that's what makes it so hard to play without being able to short it
[16:09] <MadDog> enter exit reenter etc
[16:10] <MadDog> oh well
[16:10] <MadDog> cya Monday
[16:10] <dodge> have a good weekend MD
[16:10] <MadDog> you 2
[16:10] <MadDog> poof