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#FuturesTrades November 12th Monday 2007 Trade Log

Russell 2000 Emini ER2 Futures

Today	Month	Year
+21.30	+166.60	+3244.50
$2,130	$16,660	$324,450

Profitable Trade

1335pm - 1341pm est

Losing Trade

"No losers today."

click on image to view actual size

Current Performance Record

Key Trades of the Day (see chat log below)

Profit/Loss Statement

General Strategy Info: The above profit/loss info represents trades by M.A. Perry (a.k.a. NihabaAshi) only and all trades were posted in realtime as shown in the below chat log.

Although I'm not familiar with the trade methods used by most members of #FuturesTrades, I use a rule based (no subjectivity) methodology that involves WRB Analysis.

There is some subjectivity involved with some of my trades when I'm developing a new strategy (hence the name TheStrategyLab.com) that uses WRB Analysis.

In fact, many of my trades or profit targets will occur within key WRB support/resistance zones because these price areas gives me a better understanding of key changes in supply demand.

Traditional pivot point analysis or traditional s/r levels are inadequate in understanding changes in supply/demand of the Russell 2000 Emini ER2 or any other trading instrument of today's markets in comparison to WRB Analysis.

WRB Analysis is also a key aspect in my use of intermarket analysis (ex. Oil and Gold), market seasonal tendencies, volatility analysis and custom Japanese Candlestick patterns to complete my trading plan that results in consistent profits.

Further, position size management is a key aspect of my trading and I trade any where between 1 to 9 contracts per trade depending upon the volatility, pattern signal, seasonal tendencies or intuition.

All of my trades and commentary for today's market action (posted below) are via the user name NihabaAshi (Japanese Candlestick term) and I exclusively trade the Russell 2000 Emini ER2 futures even though I closely monitor other key markets so that I'll have a better understanding of ER2 price action.

With that said, today's trade posting chat log is below and it contains all my trades that were posted in realtime along with the trades of other members of #FuturesTrades.

Further, if you want the instructions for gaining access to our free #FuturesTrades chat room...click here.

#FuturesTrades purpose, benefits and access info for day traders, swing traders and position traders...click here.

Session Start: Mon Nov 12 09:23:19 2007Session Ident: #futurestrades

* Now talking in #futurestrades 09:23

<X> [NihabaAshi] #FuturesTrades info @ http://www.thestrategylab.com/FuturesTra desChatRoom.htm and trade log archives @ http://www.thestrategylab.com/RecentTrad es.htm

<base> GM all 09:24

<Brutus> gm 09:26

<surfer279> gm

* stowe adds to long ym 13049 09:27

adds to long ym 13048 09:29

<NihabaAshi> I'm expecting a light trading day today becasue of veterans day. 09:30

* stowe adds to long ym 13047

<ripsboy> gm all..

* stowe adds to long ym 13035 09:31

adds to long ym 13039

adds to long ym 13034 09:33

adds to long ym 13028 09:34

<NihabaAshi> Shorts ER2 @ 770.50 -> medium size

<eminitrader> Long ES @ 1451 09:35

<cron> 3

<glory> ER2 has some support at 769.50, but money flow is weak. 09:36

<NihabaAshi> Covered all ER2 Short @ 770.40 --> + 0.1

too jumpy for me

<eminitrader> Exited 1/2 ES Long @ 1553 --> + 102 09:37

oops

Exited 1/2 ES Long @ 1453 --> + 2

<stowe> ym 13118 sems like a reasonable target 09:38

<szubaark> wow what a fast bounce

<eminitrader> Exited Remainder ES Long @ 1557 --> + 106 09:39

oh man

<NihabaAshi> Long ER2 @ 773.20 -> medium size

<eminitrader> Exited Remainder ES Long @ 1457 --> + 6

<szubaark> emini nice trade

<eminitrader> thx szu

done for the day ...good trading all

<szubaark> lol

<Tim_a> nice w 09:40

e

<NihabaAshi> Geesh

<stowe> ym 13140 seems like an even more reasonable target---now that i think of it

<Tim_a> short workday, e

<szubaark> Fast Opening action so far 09:41

<NihabaAshi> Exited ER2 Long @ 775.20 --> + 2 09:42

Holding 1 contract only

<szubaark> Shorts ES @ 1458 «« paper »» 09:45

Covered all Short ES at 1460.50 --> - 2.5 «« paper »» 09:46

Shorts ES @ 1461 «« paper »» 09:47

<pdays> Shorts ES @ 1461.75 09:49

<NihabaAshi> resistance zone up here 09:50

Hopefully it doesn't hold

Other key marekts still holding their gains but not ER2... 09:52

It seems to want to do its own thing in this price pullback over the past minute.

* stowe sells some ym 13108 +58,+56,+59,+60,+61,+73,+69,+74,+80 from 13028 to 13052 longs 09:53

<NihabaAshi> Eurex Dax has a lot of long upper shadows (prior intervals) to climb above because its keeping it from going higher.

* stowe sells remaining ym 13100 +72,+72 from 13028 longs 09:54

<NihabaAshi> volatility declining...I'm now expecting a volatility spike here soon...hopefully upwards and not downwards.

<pdays> Covered all ES Short @ 1460.25 --> + 1.5 09:55

* stowe short ym 13111 09:56

<szubaark> hopefully i can get one more dip lower to exit half 09:57

Covered 1/2 Short ES at 1459.25 --> + 1.75 «« paper »»

exit stop moved to breakeven ES @ 1461 «« paper »»

<Nesi> Long YM @ 13096 «« paper »» 09:58

<NihabaAshi> Dark Hammer line on ER2 2min chart...be careful.

#FuturesTrades Purpose -> No gurus, no head traders...you're here to document your own trades and thoughts as you traverse from one trade to the next trade because it provides critical information you cannot get from your broker statements (real money or simulator)...use this room as your trade journal. 09:59

<Nesi> Long ER2 @ 777.00 «« paper »» 10:00

<NihabaAshi> Exited ER2 Long @ 776.30 --> + 3.1 10:01

Reverse and Enter Short ER2 @ 776.30

Covered ER2 Short @ 776.20 --> + 0.1 10:02

no volatility on that position reversal... 10:03

volatilty still declining...waiting for the next volatility spike to shake things up a little...up or down.

<szubaark> Covered all Short ES at 1455.50 --> + 5.5 «« paper »» 10:04

<NihabaAshi> Gold, Oil, DAX and other key markets weaken over the past 5mins 10:05

* stowe covers ym 13050 +61 from 13111 short 10:07

long ym 13052 10:08

<NihabaAshi> Shorts ER2 @ 775.80 -> small size

<Brutus> Good trades stowe

<NihabaAshi> intuition trade

<stowe> thanks brut

* stowe adds to long ym 13040 10:09

<NihabaAshi> Covered 1/2 ER2 Short @ 774.60 --> + 1.2

* stowe adds to long ym 13039

adds to long ym 13035 10:10

adds to long ym 13049 10:11

<NihabaAshi> weak support...hopefully it doesn't give enough support to start a counter-thrust back upwards. 10:12

<glory> ER2 at Friday's close; YM tested Friday's low, so far holding. 10:13

* stowe adds to long ym 13039 10:15

<NihabaAshi> Dark Hammer Line...2min ER2 10:16

<X> #FuturesTrades Info -> Chat room for traders and intermarket analysis of Emini Futures (EMD, ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, XLE, QQQQ, SPY) 10:23

<stowe> ym 13140 seems like a reasonable target again---now that i think of it 10:24

<pat255> gm all late ...

<Nesi> hi pat

<NihabaAshi> Covered ER2 Short @ 775.60 --> + 0.2 10:25

Reverse and Enter Long ER2 @ 775.60

<pat255> hi nesi Niha stowe

<stowe> all isn't here yet, so you're still early

<NihabaAshi> Long ER2 @ 776.30 -> Add

<stowe> gm pat

<szubaark> Shorts ES @ 1459.75 «« paper »»

Covered 1/2 Short ES at 1458 --> + 1.75 «« paper »» 10:26

see minor Resistance here

exit stop moved to breakeven ES @ 1459.75 «« paper »» 10:27

Covered all Short ES at 1459.75 --> 0 «« paper »» 10:31

<NihabaAshi> Exited 1/2 ER2 Long @ 778.10 --> + 1.8

Trading Edge:
Strategies
If your an independent trader looking for an edge to help you traverse around obstacles to profitable trading...a method that's well defined, gives you a better understanding of the markets, applicable for day trading, position trading, swing trading, market seasonal tendencies, position size management, intermarket analysis with a money back guaranteed policy...click here.

Trading Strategies ->   Strategies used by NihabaAshi, from entry to exit, exploit inefficiencies in the price action for profits of the following trading instruments via WRB Analysis and Intermarket Analysis: Emini Index Futures (EMD, ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Index Derivatives (DAX, ESTX50), Euronext Index Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Energy Futures (CL, NG, HO, QM), COMEX Metals Futures (GC), Forex Currencies (EurUsd, EurYen, UsdCdn), Exchange Traded Funds (DIA, GLD, OIH, IWM, QQQQ, SPY, XLE) and Hang Seng Index Futures (HSI)

<pat255> vn dang not looking to L side but ... 10:32

<stowe> turn your monitor over

<pat255> lol ..

<NihabaAshi> After the initial morning drop in Oil and Gold...those two key markets have been on bed rest (taking it easy). 10:34

<pat255> so far makinh hi high hi lows

<NihabaAshi> :(

<Brutus> new highs dont seem probable

<szubaark> Shorts ES @ 1457.75 «« paper »» 10:35

<Brutus> although bias for the day, more so afternoon would be long 10:36

<szubaark> Price stalling here at Resistance 10:38

<NihabaAshi> come one...push 10:40

Gold providing support and Oil trying to stabilize...

<szubaark> Covered all Short ES at 1460.50 --> - 2.75 «« paper »»

<NihabaAshi> Good time to try and make new intraday highs

<szubaark> Shorts ES @ 1460 «« paper »» 10:41

<NihabaAshi> That was a weak attempt (lack of interest) at a new intraday high :( 10:42

All other key markets sill in the same price range to help "encourage" ER2 for a new intraday high

<szubaark> Covered all Short ES at 1462.50 --> - 2.5 «« paper »» 10:43

<NihabaAshi> Exited ER2 Long @ 779.60 --> + 4 10:44

<szubaark> Shorts ES @ 1462.75 «« paper »»

* stowe sells some ym 13135 +83,+95,+96 from 13052 to 13039 longs 10:45

<pat255> vn stowe wtg 10:46

S 63.75 es

tight stop

out 2 ticks .. 10:48

S not ready

* stowe sells remaining ym 13125 +90,+86,+76,86,+86 from 13035 to 13049 longs 10:50

short ym 13119 10:52

adds to short ym 13115 10:53

<Brutus> dang you are getting every swing today Stowe

<stowe> thanks brut--lets see if this one works too 10:54

* stowe adds to short ym 13111

adds to short ym 13116 10:55

adds to short ym 13127 10:56

adds to short ym 13128 10:58

adds to short ym 13138 11:02

adds to short ym 13136 11:03

<Tim_a1> what chart timeframe do you use stowe? 11:06

<stowe> 1,5,10 min. 11:07

<Tim_a1> thanks, nice shots this morning

<stowe> ty tym

* stowe adds to short ym 13144 11:08

adds to short ym 13150 11:12

<Brutus> Shorts ES @ 1467.25 «« paper »»

<szubaark> .61 Retrace of Friday's sell-off here,lets see

<NihabaAshi> Resistance up above 784.50 in ER2 11:14

ER2 needs to move to above 786 price area to keep the Shorts from trying the exploit the price pullbacks. 11:15

<Tim_a1> ym almost reached the bottom middle of friday afternoon's 'M' formation

<NihabaAshi> volatility dropping fast in ER2 11:16

I'm expecting a volatility spike here soon...up or down 11:17

Hopefully it sets up a price action to trade.

<Brutus> Covered ES Short @ 1465 --> + 2.25 «« paper »» 11:19

<szubaark> nice Brutus

<Brutus> thx sz4

<KKnn> Shorts ES @ 783.20 11:22

that should be ER@ 11:23

* stowe adds to short ym 13152 11:27

<Brutus> Shorts ES @ 1467.5 «« paper »» 11:28

Covered 1/2 ES Short @ 1466.5 --> + 1 «« paper »» 11:29

Covered all ES Short @ 1468 --> - 0.5 «« paper »» 11:30

* stowe adds to short ym 13155

* sep34 is now known as sep34_away 11:33

<Tim_a1> . 11:46

<Brutus> http://custom.marketwatch.com/custom/tda meritrade-com/html-story.asp?guid={d5eb1 eb9-1620-45c6-be29-8623f3b49940} 11:52

http://custom.marketwatch.com/custom/tda meritrade-com/html-story.asp?guid={f8a46 3ca-85ff-4bbb-8ded-ceac8fc679dd} 11:53

<eminitrader> hi guys ..just turned the computer on... 12:11

my read is the day trend has changed.. 12:12

high probability retest of lows ..sell entry wild be 1564-1566

since it has already touched that price ...move stops above todays high... 12:13

<pat255> hi em u S?

<KKnn> Covered all ES Short @ 781.20 --> + 2

<eminitrader> low probability of new highs as of now...unless the flow changes as price goes by

was actually done pat,, 12:14

<Brutus> ER is very bullish today

<eminitrader> but yes this was too good to miss...short since 1465

<Brutus> nq at other end 12:15

<eminitrader> B...MY comments only refer the ES

<pat255> thks em

<eminitrader> urw pat

<Brutus> ok thx, I think er's telling the truth today 12:16

<eminitrader> my stop though is 8 ticks

<pat255> k .. 12:17

* codehead_afk is now known as codehead

<eminitrader> cld happen B...the other indices may pull the ES back to an uptrend...but as of this moment flow shows a retest of lows rather than highs

<Brutus> after 17 pts up i see a good pullback/shakeout, so even a test of the lows not out of the question but not what Im looking for 12:19

<eminitrader> stopped out :( 12:22

* stowe adds to short ym 13160

<Brutus> ym new highs

<eminitrader> but trend still down...unless we see new highs..cld not hold on to the noise

<stowe> now you tell me

<eminitrader> k guys see u all later ..good trading 12:25

<X> #FuturesTrades Info -> Chat room for traders and intermarket analysis of Emini Futures (EMD, ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, XLE, QQQQ, SPY) 12:29

* stowe adds to short ym 13165 12:31

adds to short ym 13167 12:42

<Brutus> looks like a 2b reversal on the multiday trend line 12:54

<stowe> vic sperandeo? 12:55

<Brutus> yeah, no more whycoff spring

<stowe> http://www.dacharts.com/2b.htm 12:56

<szubaark> Brutus, Stowe good comment guys 12:58

<stowe> ofc it could just be an a-b-c break of the main fib line at the 38% resistance failure tto

<Brutus> tto? 13:00

<stowe> too

toto 2

<NihabaAshi> Shorts ER2 @ 781.20 -> small size 13:02

1 contract only because I'm in profit protection mode of my morning profits

<Brutus> whats your value for 38% resistance? 13:03

<stowe> brut i was joshing ya

<Brutus> k

<stowe> i could fib my way out of an a-b-c retracement to save my trend line if i had to 13:04

i couldn't fib my way out of an a-b-c retracement to save my trend line if i had to

actually, vic first book had some very good discussions on market psychology 13:06

http://www.amazon.com/Trader-Vic-Methods -Wall-Street-Master/dp/0471304972 13:07

<NihabaAshi> Covered ER2 Short @ 781.10 --> + 0.1 13:09

:(

I tighten my trailing stop too soon after it tested the 780.70 price area 13:10

<Trader222> have silly plumbing troubles since 9am : first time I'm at screens all bloody day 13:12

<stowe> hate when that happens

<Trader222> only thing good is IBM and AIG swing Credit option spreads from Fri are working 13:13

<stowe> ym 13061 seems like a good target 13:16

<NihabaAshi> sneaky bullish price action here for the past 5mins or so. 13:27

sneaky as in tricky

If it can drop about 5 ticks before attempting to go higher... 13:28

Could setup a nice Long trade.

volatility declining... 13:29

I'm expecting a volatility spike.

Hopefully it takes prices down to setup a Long position.

There's the volatility spike... 13:31

Lets see if it sets up something tradable.

volatility contracting again 13:33

<pat255> back ...looks like N.. 13:34

<NihabaAshi> Shorts ER2 @ 780.20 -> small size 13:35

<szubaark> Nice patience Niha waiting for your setup 13:37

<NihabaAshi> Geeesh...unexpected price action but Oil and Gold got me in the right direction

<jperl> done for today....

<NihabaAshi> szu...I was looking for a bullish setup...

<jperl> trades here...

<NihabaAshi> It didn't appear but a bearish setup did appear.

Don't get married to our bias :) 13:38

<jperl> http://charts.dacharts.com/2007-11-12/JP ERL_013.jpg

lots of patience required for trading today

<werner> yep i have seen it

<NihabaAshi> Dark Hammer Line on the 1min chart 13:39

<pat255> had a good entry but lost patience ...sigh

<werner> tx niha

<stowe> maybe you're just not a good doctor

<pat255> y true ..

need to learn to execute well.. 13:40

<Trader222> dang: step away for 10min and miss it; hate this kinda trading; sorry for whine, lol

<werner> wow

<NihabaAshi> Covered ER2 Short @ 775.80 --> + 4.4 13:41

<werner> nice

<NihabaAshi> It has a good chance to retrace back up into the lower price range of that prior Dark Hammer Line

<Guest35179> man i just stepped away to go to the kitchen and it drops 5 points, i hate that 13:43

<Brutus> 11/12/2007 13:38 *DJ EIA Head: OPEC Indicates A $50-$60/Bbl Oil Price Target

<NihabaAshi> I was only looking for a small WRB target on that Short...probably no more than a point.

Got much more than expected.

On that note...I'm done trading for the day.

<Guest35179> good one, niha 13:44

<Brutus> http://www.bloomberg.com/apps/news?pid=2 0601087&sid=aCo9EOxC46cE&refer=home

<NihabaAshi> Going to go outside and finish getting the house and yard ready for the harsh winter that's around the corner.

<pat255> later...

<NihabaAshi> It's already snowing at the condon at the ski resort. 13:45

Everybody taking the skis to the shop to get them ready for skiing.

Take care all and see all tomorrow. 13:46

* NihabaAshi is now known as NihabaAshi_away

<pat255> k...thks

<Brutus> I have to get those barnacles of my yacht too 13:47

:))

<Trader222> NihabaAshi_away: where are you city wise?

<NihabaAshi_away> Québec City 13:48

<Trader222> lovely city

know Toronto and Montreal better; esp Toronto; only in Quebec once and enjoyed myself. lovely culture

how far from Quebec is ski country? 13:49

<NihabaAshi_away> Two places within 2 hours North and one place (never been too) within 2 1/2 hours south 13:50

<pat255> & stowe hand it to u again ..u have guts .. 13:51

<stowe> thanks pat 13:52

<Brutus> stowe do you do your own calcs on the dow index and underlying stocks? 13:54

<pat255> no guts in this buisness ...cant make it ..

<stowe> no brut... 13:55

i just watch ym

<Brutus> just clean charts? volume? 13:56

<szubaark> "whats your secret sauce, tell us, tell us" 13:57

<stowe> well...imo volume is the most ambiguous indicator

<pat255> guts szu ...

<stowe> i don't have anything on my charts except the price candles

<pat255> szu he S from 11 all the way to 70 on ym.. 13:58

<stowe> 67

<Brutus> excellent, vn

* stowe covers some ym 13091 +28,+24,+20,+25,+36 from 13111 to 13128 shorts 14:04

<pat255> wtg stowe ...nice job .. 14:06

very jerky movements on ym 14:07

<stowe> well, i was kinda lookin' for 13061

* sep34_away is now known as sep34 14:10

* stowe covers more ym 13083 +55,+53,+61 from 13138 to 13144 shorts 14:21

covers remaining ym 13093 +57,+59,+62,+67,+72,+74 from 13150 to 13167 shorts 14:23

<Nesi> vn stowe

<stowe> ty nes 14:24

had 2 chances to get that 061 and it just wouldn't go there 14:25

<Nesi> but very close.. cant ask for more than that :)

<Tim_a1> they did shake it pretty hard on the downside

<stowe> yeah...seems like they were grabbin' 14:26

* stowe long ym 13085 14:27

adds to long ym 13095 14:28

adds to long ym 13100

adds to long ym 13105 14:29

<X> #FuturesTrades Info -> Chat room for traders and intermarket analysis of Emini Futures (EMD, ER2, ES, NQ, YM), EuroFX Futures (EC), Eurex Derivatives (DAX, ESTX50), Euronext Futures (FTSE100, CAC40), Treasury Futures (ZF, ZN, ZB), NYMEX Futures (CL, NG, HO, QM) and Exchange Traded Funds (DIA, GLD, IWM, OIH, XLE, QQQQ, SPY) 14:32

* stowe sells some ym 13128 +43,+43,+33,+33 from 13085 to 13095 longs

<Brutus> 11/12/2007 14:32 *DJ OIL FUTURES: Nymex Crude Ends Dn $1.92 At $94.40/Bbl 14:35

* stowe sells remaining ym 13134 +34,+34,+31,+31,+31 from 13100 to 13105 longs 14:36

short ym 13138 14:37

adds to short ym 13136 14:38

adds to short ym 13134

adds to short ym 13140 14:40

adds to short ym 13147

adds to short ym 13152

adds to short ym 13157 14:42

adds to short ym 13150 14:47

<Brutus> hmm dont see ES droping much more 14:56

1458.75 sup 14:57

<Nesi> Stowe does it again :) 15:00

<stowe> seems like ym 13080 would be nice

<Brutus> dang :) 15:03

<Tim_a1> you're a man of steel, stowe 15:04

<rv> Nice work S

<stowe> well...i gotta cover it first

<Tim_a1> lol

<ripsboy> NIce trade Stowe... 15:05

<stowe> ty rip

<Brutus> near completion I see the pattern, excellent that you saw it during the advance

You are going to reverse long arnt you?

<stowe> at 80? 15:06

maybe

i still think we might see 61

i'd like 61 longs

* stowe covers some ym 13110 +28,+26,+24,+30,+30,+30 from 13134 to 13140 shorts 15:11

<pat255> what can i say stowe ...great trades ... 15:12

<Tim_a1> he's got the knack

<pat255> just superb ..trying to follow some ..

y

* stowe covers remaining ym 13115 to 13118 +32,+37,+39,+39,+32,+32 from 13147 to 13157 shorts 15:13

<stowe> thanks guys

<Tim_a1> yw 15:14

* stowe short ym 13118 15:15

adds to short ym 13116

adds to short ym 13117

adds to short ym 13111 15:16

<Brutus> I think this is going to be a good long into the close 15:17

<yayaa> yayaa shorts YM @ 13119 15:18

<Brutus> Long ES @ 1456 «« paper »» 15:22

exit stop set ES @ 1453 «« paper »» 15:23

* sep34 is now known as sep34_away

<Brutus> Exited ES Long @ 1553 --> + 97 «« paper »» 15:26

Exited ES Long @ 1453 --> - 3 «« paper »»

* stowe covers all ym 13085 +32,+40,+40,+40,+39,+39,+39,+24,+24 from 13118 to 13111 shorts 15:27

<rv> Very nice S

<stowe> tanks

<rv> interesting technique u use, never saw that before 15:28

* stowe long ym 13075 15:29

long ym 13077

adds to long ym 13078 15:30

<yayaa> Yayaa Covers YM short @ 13075 + 44 points

* stowe adds to long ym 13079

adds to long ym 13081

adds to long ym 13088 15:31

<stowe> yaya...good patients 15:32

* stowe adds to long ym 13079

<yayaa> Thanks stowe,sweet set up in out quick 15:33

<stowe> i love sweets

<yayaa> Ya once the quick push to the EMA knew we were headed south 15:35

<pat255> what ema yaya 15:36

<Trader222> stowe: curious; with your method: do you ever use any stops like YM 100 or anything? 15:37

if you dont mind my asking

* stowe sells all ym 13095 +20,+18,+17,+17,+17,+16,+14,+12,+5,+5,+1 4 from 13075 to 13088 longs 15:38

<Brutus> Stowe why do you like to trade the YM over other eminis?

<stowe> well...i don't have any "methods"

ym trades with the smallest increment 15:39

makes for better charts if you only look at price

<Brutus> do you find the patterns you look for are better with YM besides the tick increment? 15:40

* stowe long ym 13067 15:41

adds to long ym 13070

adds to long ym 13071 15:42

adds to long ym 13080

<yayaa> pat standart Exponential Moving Avg.2 day 15 minute chart along with MACD going negative. 15:43

<pat255> k thks

<yayaa> Price jammed to the EMA line after falling below in earlier time froame

* stowe adds to long ym 13074

adds to long ym 13064 15:44

adds to long ym 13061

<yayaa> add in 45 minutes of larger vol.to the negative side

Now you see the follow thru to the YM dark side,hard to combat that vol. downside 15:45

* stowe adds to long ym 13046

adds to long ym 13040 15:46

adds to long ym 13035

<stowe> well...brut, i want a smooth chart and i feel the smaller incremental moves yield a better chart without a lot of tails in candles at fast time frames 15:48

* stowe adds to long ym 13030

adds to long ym 13026 15:49

<yayaa> Wow I should have kept 1/2 short and rode the chart,never lose taking a profit though,pigs get slaughtered and all that:)

<stowe> also you can get slaughtered if you're wrong 15:50

* stowe adds to long ym 13007

<Brutus> 1440 was a Fib target I had 15:51

called out Friday before that selloff

Did not expect this today 15:52

* stowe adds to long ym 13015

<yayaa> Brutus on the ES? 15:54

<Brutus> ya, ya

<stowe> you made a limmerick

<Brutus> isnt that rumple stiltskin? 15:55

<stowe> could be 15:56

<ItalianSharp> man, they aint done selling yet

* stowe adds to long ym 13008 15:58

<stowe> looks like an overnighter for turnaround tuesday

<ItalianSharp> stowe, what if it doesnt turnaround? what's your risk tolerance 15:59

* stowe adds to long ym 12995 16:00

<yayaa> Trap door tells me not to hold unless I'm short

<stowe> is there a sign on it?

<ItalianSharp> this thing looks really bearish

<yayaa> The door opening will get tighter my friends\

<ItalianSharp> bullish signals have been failing miserably

bearish pressure too strong now IMO 16:01

<stowe> mine always said "no girls allowed"

<yayaa> wait till funds go and protect their earnings for year end,how much tolerence do they have? 16:02

that was ugly ending WITH VOL!

<ItalianSharp> increasing volume on this downmove spells trouble for tomorrow 16:03

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<pat255> back yeah yaya that is a thot..

<stowe> there's always something to woory about

<pat255> if bleed continues funds will unload

<Brutus> 1440 looks good

============ U.S. MARKETS ACTION =========== 16:04

DJIA down 25.85 points to 13015.83

NASDAQ down 38.62 points to 2589.37

S&P 500 down 11.70 points to 1441.93

10-year T-note down 0/32 at 99 17/32 yield 4.306

NYMEX Spot Crude down $0.74 at $93.87/bbl

Dollar/Euro down 0.0130 at 1.4538

<stowe> i'm worried that new england won't go 17-0 and break miami's record this year

<Brutus> http://custom.marketwatch.com/custom/tda meritrade-com/html-story.asp?guid={80051 1f7-f821-4c42-934a-66e68664bec7}

<pat255> lol stowe ...freaking worries .

<stowe> i'm also worried i won't get universal healthcare for free 16:05

i'd hate to pay for it

<yayaa> Stow I'm with you/ the Pats,15 miles NW of Beantown:))) 16:06

<Brutus> http://custom.marketwatch.com/custom/tda meritrade-com/html-story.asp?guid={e68b5 f3b-8428-43dc-84b2-27de6ecf29f7}

<ItalianSharp> new england must be the best team ever...they look unstoppable

<stowe> tons of football worries...what if mcnabb gets traded to minnesota?

<Brutus> yen carry trade in trouble 16:07

* stowe adds to long ym 12999 16:09

<yayaa> Italian,3 factors for Pats,Talent,No Injuries,& Lucky QB named Brady. Lucky in many ways if you get my drift:) 16:11

<stowe> we don't have football where i live 16:13

dunno what they do...but it sure ain't football 16:14

there's a high school nearby

San francisco 16:15

<Brutus> time to shut down cu people

<stowe> call if you get work

cya tommari, bring a bottle of campari 16:16

<yayaa> G'night all,btw going with Seattle and under this p.m.:))))))))) 16:17

<stowe> just around the corner there's a rainbow in the sky, so lets have another cup of coffee and lets have another piece of pie

don't let the bed bugs bite 16:18

* stowe is now known as all

<all> bye

* all is now known as Stowe

<Stowe> bye all

<Trader222> where's next lower support? 16:22

<werner> gn all 16:28

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