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Session Start: Thu Sep 03 00:00:00 2009
Session Ident: #futurestrades
[00:26] <@X> #FuturesTrades Info -> You must read #FuturesTrades purpose and benefits @
viewtopic.php?f=5&t=36 and TOU policy @
viewtopic.php?f=2&t=55 to prevent any misunderstandings.
[02:29] <@X> #FuturesTrades Info -> You must read #FuturesTrades purpose and benefits @
viewtopic.php?f=5&t=36 and TOU policy @
viewtopic.php?f=2&t=55 to prevent any misunderstandings.
[02:39] * codehead is now known as codehead_afk
[04:35] <@X> #FuturesTrades Info -> You must read #FuturesTrades purpose and benefits @
viewtopic.php?f=5&t=36 and TOU policy @
viewtopic.php?f=2&t=55 to prevent any misunderstandings.
[06:38] <@X> #FuturesTrades Info -> You must read #FuturesTrades purpose and benefits @
viewtopic.php?f=5&t=36 and TOU policy @
viewtopic.php?f=2&t=55 to prevent any misunderstandings.
[08:31] <Nesi> 8:30aU.S. 4-week average new claims highest in 7 weeks
[08:32] <pat255>
& ty nesi
[08:32] <+Nesi>
[08:33] <+Nesi> 09/03/2009 08:30 *DJ US Aug 22 Week Jobless Claims Revised To 574K From 570K
[08:33] <+Nesi> 975 short term tg...imo
[08:34] <+Nesi> 09/03/2009 08:30 *DJ US Aug 22 Week Continuing Claims +92K to 6,234,000
[08:34] <+pat255> noy much reaction
[08:34] <+Nesi> yup..so far..nothing
[08:44] <@X> #FuturesTrades Info -> You must read #FuturesTrades purpose and benefits @
viewtopic.php?f=5&t=36 and TOU policy @
viewtopic.php?f=2&t=55 to prevent any misunderstandings.
[08:58] * codehead_afk is now known as codehead
[09:29] <drt>
everyone
[09:31] <Forex2stay> hello everyone
[09:31] <+Nesi> morning all
[09:31] <+pat255>
[09:32] <+drt> l es 97.75
[09:34] <+drt> cl es 00.
[09:35] <+pat255> vn
[09:37] <+Nesi> i am short bias big time
[09:37] * Looking up jbuch user info...
[09:45] * code is now known as codehead
[09:46] <@wrbtrader> So far out of the gate we are range bound markets
[09:46] <+Nesi> ISM services numbers at 10 am
[09:47] <+Nesi> tomorrow unemployment numbers
[09:49] <@wrbtrader> FYI - I'm expecting a volatile trading day today Thursday and Friday...resulting in either a trend day or high volatility swing day.
[09:50] <+pat255> high voltality should be interesting ..
[09:52] <+pat255> break of 997 may give a hint on S side
[09:53] <+Nesi> gold trying to bo
[09:54] <JimL14> wrbtrader, when you have a chance, pls mention why Thurs & Fri, Each day this wk you mentioned the same for Thurs & Fri., with correct assessments for Mon, Tues & Wed.
[09:54] <+JimL14> I'm trying to learn & absorb experience
[09:55] <+JimL14> Not so much interested in the outcome, but the process that led to assessment
[09:56] <@wrbtrader> Financial networks and floor traders discussion on TV that they were keying in on Thursday and Friday economic reports along with the fact that some key market participants are returning back from "vacation" latter part of this week and next week.
[09:56] <@wrbtrader> Simply, their hyping Thursday and Friday
[09:56] <@wrbtrader> It caught my attention
[09:57] <@wrbtrader> It's all under the umbrella of "Market Psychology".
[09:57] <@wrbtrader> Nothing technical
[09:58] <jbuch> we get above 50 this thing is gonna blow
[09:58] <+Nesi> numbers in few min
[09:59] <+jbuch> sombodies already got them
[09:59] <@wrbtrader>
[09:59] <+Nesi> Magnitude 6.2 quake hits off southern Kyushu in Japan according to USGS- DJ
[09:59] <+Nesi> not sure if fresh
[09:59] <+Nesi> fwiw
[10:00] <+Nesi> mojo
[10:00] <+JimL14> well most asks were pulled
[10:00] <@wrbtrader> Long ES @ 999.50 -> large size
[10:00] <@wrbtrader> wow
[10:00] <@wrbtrader> it poped
[10:00] <+Nesi> August ISM Sevices 48.4 vs 48.0 consensus
[10:00] <@wrbtrader> It won't hold for long
[10:00] <@wrbtrader> 6 only
[10:01] <+Nesi> no power
[10:01] <@wrbtrader> Exited all ES Long @ 998.50 --> - 1
[10:01] <@wrbtrader> Shorts ES @ 996.00 -> large size
[10:01] <+pat255> geez what was that ...
[10:01] <@wrbtrader> 6 pm;u
[10:02] <@wrbtrader> Too fast on the second charts...
[10:02] <@wrbtrader> will have to increase to higher time frame
[10:02] <+jbuch> nothing great so probably more chop
[10:02] <@wrbtrader> Covered all ES Short @ 997.00 --> - 1
[10:02] <JimL28> Long TF @ 554.5
[10:02] <+JimL28> 2
[10:02] <+pat255> the whip is back
[10:02] <@wrbtrader> I'm now Short bias
[10:03] <@wrbtrader> Shorts ES @ 997.00 -> large size
[10:03] <@wrbtrader> 9 only
[10:03] <+JimL28> Exited 1/2 TF Long @ 555.5 --> + 1
[10:04] <+JimL28> Exited all TF Long @ 554.6 --> + 0.1
[10:05] <+Nesi> here we go probably
[10:05] <codehead> gap fill
[10:05] <+pat255> vn N..
[10:06] <@wrbtrader> Covered ES Short @ 993.75 --> + 3.25
[10:06] <@wrbtrader> Holding 2 contract remainders
[10:06] <+Nesi> nice n
[10:07] <+JimL28> Shorts TF @ 554.2
[10:07] <+JimL28> 2
[10:08] <+JimL28> Covered 1/2 TF Short @ 553.4 --> + 0.8
[10:08] <+Nesi> hammer time
[10:10] <@wrbtrader> This is a support area the Eminis are
at right now
[10:11] <@wrbtrader> If it doesn't retrace back down here soon...I'm going to dump my remainder Longs
[10:11] <+JimL28> Covered Remainder TF Short @ 553.2 --> + 1
[10:12] <+Nesi> die es
[10:20] <+jbuch> I have 996-994 as a support zone from aug fourteenth
[10:21] <@wrbtrader> Good fight so far all around the support area
[10:21] <+jbuch> vol so far very low
[10:22] <+Nesi> oil in 8 min
[10:22] <+JimL14> volumes so low that volatility extremely eratic
[10:23] <+JimL28> Shorts TF @ 552.3
[10:23] <+Forex2stay> WSJ stated that China has agreed to buy $50 Billion of IMF currency, showing that they might actually move away from the Dollar as their reserve currency
[10:23] <+Nesi> interesting..thanks forex
[10:23] <@wrbtrader> Covered ES Short @ 991.75 --> + 5.25
[10:24] <TraderG> what is IMF currency?
[10:24] <@wrbtrader> Holding 1 contract remainder
[10:24] <+pat255> vn
[10:24] <+pat255> read on that S
[10:24] <+JimL28> Covered 1/2 TF Short @ 551.1 --> + 1.2
[10:25] <+JimL28> Covered Remainder TF Short @ 551.5 --> + 0.8
[10:25] <@wrbtrader> thanks...first two losers were "jabs" at the market...
[10:25] <+jbuch> beauty N
[10:25] <@wrbtrader> Then the market stuck out it's tongue at me and I nailed it with a upper cut
[10:25] <+pat255> y see that often ..vvn
[10:26] <+pat255> man need quick fingers to take smal losses
[10:26] <+jbuch> lol
[10:26] <+Forex2stay> Internation Monetary Fund...
[10:26] <+pat255> N took -1 loss i did papaer trade I was down 3 pts
[10:28] <@wrbtrader> pat255...my first trade went +1.75 in my favor immediately after entry...
[10:29] <@wrbtrader> It then retraced so quickly that it took me out for a -1 point loss.
[10:29] <+pat255> y ...was too whippy
[10:29] <+Forex2stay> imf.org will explain what they do, but basically china has agreed to buy $50 Billion in notes from their Fund, in form of their quasi-currency, which some countries are pushing to have it replace the dollar for the world's reserve currency
[10:29] <+TraderG> thanks
[10:29] <@wrbtrader> That's a 2.75 price movement and I didn't have fast enough fingers to grab that +1.75
[10:29] <@wrbtrader>
[10:30] <@wrbtrader> meant
[10:30] <+pat255> that whip was unbeilevable
[10:30] <@wrbtrader> The speed of the price movement caught me offguard even though I was expecting something fast.
[10:30] <@wrbtrader> Almost gave me a nose bleed
[10:31] <+jbuch> considering how much of our debt they have that is quiteballzyon chinas part
[10:31] <+jbuch> might force us to slow down on the quantitave easing
[10:33] <+jbuch> My daughter ripped of the pad for my space bar a few days ago so now I have to hit this little tiny button.hence the lack of spaces on most of my posts
[10:33] <+JimL28> Long TF @ 552.2
[10:33] <+JimL28> 2
[10:34] <+JimL28> Exited 1/2 TF Long @ 553.2 --> + 1
[10:36] <@wrbtrader> More info about those "Fast Trades" (controversial method via institutions) we've seen recently @
http://in.biz.yahoo.com/090902/137/bau4gj.html[10:36] <+JimL28> Exited Remainder TF Long @ 553.2 --> + 1
[10:36] <+Forex2stay> anyone see Steenbarger's blog this morning? he had a comment in their about a prior's day pivot level usually gets hit 70% of the time...anyone use pivots and have any insight?
[10:37] <@wrbtrader> I heard about that 70% stat a few years ago but never investigated it.
[10:37] <+Forex2stay> not sure that could even be tradeable, but might help you manage a trade.
[10:41] <+jbuch> I don't use pivots but that is interesting
[10:41] <@wrbtrader> Covered Remainder ES Short @ 996.00 --> + 1
[10:41] <+jbuch> did u see his webinar last night
[10:41] <+pat255> which webnar jb?
[10:41] <+jbuch> steenbargers
[10:41] <+pat255> nope on pivots?
[10:42] <+jbuch> no it was on psych stuff
[10:42] <+pat255> k thks u have link?
[10:43] <+jbuch> no but he said he post it when it was archived
[10:43] <+pat255> ty
[10:46] <+codehead> 996.25 is .500 of post report high spike to lod, and .382 of hod to lod--hit exactly
[10:50] <@X> #FuturesTrades Info -> You must read #FuturesTrades purpose and benefits @
viewtopic.php?f=5&t=36 and TOU policy @
viewtopic.php?f=2&t=55 to prevent any misunderstandings.
[10:50] <+Forex2stay> jb did you attend it?
[10:52] <+jbuch> Long ES @ 995.5
[10:53] <+jbuch> yeah good stuff
[10:54] <+Forex2stay> cool..hopefully he'll have it posted soon
[10:54] <+jbuch> Exited all ES Long @ 995.25 --> - 0.25
[10:56] <+JimL28> Shorts TF @ 554.8
[10:56] <+JimL28> 2
[10:56] <+JimL28> Covered 1/2 TF Short @ 554.2 --> + 0.6
[10:57] <+JimL28> exit stop lowered TF @ 554.6
[10:59] <+JimL28> Trailing Stop Hit TF @ 554.6 --> + 0.2
[10:59] <+jbuch> Long ES @ 995.25
[11:03] <+jbuch> Exited all ES Long @ 997.5 --> + 2.25
[11:03] <+pat255> vn
[11:06] <+jbuch> thanks
[11:16] <+pat255> trying L 96.5
[11:20] <+pat255> out -1
[11:29] <+JimL28> Shorts TF @ 556.4
[11:29] <+JimL28> 2
[11:29] <+JimL28> Covered 1/2 TF Short @ 555.9 --> + 0.5
[11:30] <+JimL28> exit stop lowered TF @ 556.3
[11:31] <+JimL28> Covered TF Short @ 556 --> + 0.4
[11:31] <+JimL28> Reverse and Enter Long TF @ 556
[11:31] <+JimL28> 1
[11:32] <+JimL28> exit stop raised TF @ 556.2
[11:32] <+jbuch> hard to get on board a long here
[11:33] <+JimL28> exit stop raised TF @ 556.4
[11:34] <+JimL28> Trailing Stop Hit TF @ 556.4 --> + 0.4
[11:39] <@wrbtrader> We're now ranging and volatility is still declining.
[11:44] <+pat255> k guys back to office ...ty all
[11:45] <+Forex2stay> see ya pat
[11:46] <+jbuch> gold is making another move up
[11:50] <OICU812> good morning
[11:51] <+jbuch> hey oic
[11:51] <+jbuch> howr u doing
[11:51] <+OICU812> doing good. off to a good start but the market died on me
[11:51] <+OICU812> i guess its going to be a slow week. lots of ppl taking advantage of the last summer weekend
[11:55] <+OICU812> how you doing?
[11:58] <+jbuch> slept about 3 intermtent hours last night and ran outta coffee this am
[11:59] <+jbuch> good other than that
[12:01] <+OICU812> no starbucks close by?
[12:11] <+jbuch> sorry took off yeah there is 1 right down the road think I'll ride my bike down there and grab some beans
[12:11] <+OICU812>
[12:11] <+OICU812> there you go
[12:28] <+OICU812> wheres wrbtrader, havent seen him.
[12:51] <+jbuch> ahhhh the nectar of the gods
[12:51] <+OICU812> i guess you bought your coffee heheheh
[12:51] <+jbuch>
)
[12:52] <+jbuch> Once again thanks for keeping the market where i left it
[12:53] <@X> #FuturesTrades Info -> You must read #FuturesTrades purpose and benefits @
viewtopic.php?f=5&t=36 and TOU policy @
viewtopic.php?f=2&t=55 to prevent any misunderstandings.
[13:07] <+OICU812> no problem jb
[13:08] <+OICU812> we are here to help. we held it so you could go get your coffee
[13:08] <+Forex2stay> the EURO is dead, bout ready for a nap
[13:08] <+jbuch> thanks man
[13:12] <+JimL14> whats ya'll thoughts on gold? how about, new japan govtmt, big asian reserves in usd, yen, eur, & precious metals; lightening of yen % exposure showsup most in gold futures?
[13:12] <+codehead> nice oil pop
[13:12] <+codehead> gold has a beautiful chart
[13:13] <+codehead> over 1k it could have a nice bull run
[13:20] <+jbuch> dude i am just watching it rally
[13:20] <Nesi> it is going
[13:21] <+jbuch> silver is moving even more
[13:21] <+Nesi> 1003 is big key..imho...gold
[13:21] <+jbuch> yeah def
[13:21] <+jbuch> but look at the momentum
[13:23] <+jbuch> I just put a longer term short on.
[13:24] <+jbuch> which is scary because looking a s&p I think higher
[13:24] <+jbuch> but the way gold is moving I think the fear trade is back on
[13:25] <+jbuch> don't understand silver though
[13:28] <+jbuch> that is more consumer and less monetary drivenIMO.
[13:33] <+Nesi> gold next bubble..imo
[13:46] <@wrbtrader> Except for the volatility price action at/near 10am est...this is basically a low volatility trading range day for the Eminis and Eurex futures.
[13:52] <+jbuch> nq is moving up nicely
[13:59] <+Nesi> 2 pm selling probably
[14:44] <+JimL14> feels like nyc & chicago closing down for labor day w/e
[14:48] <+OICU812> yeah
[14:48] <+OICU812> monday is holiday right?
[14:50] <+codehead> yep
[14:52] <+OICU812> i will sound like scrooge but i hate holidays
[14:52] <+OICU812> theres no market open
[14:59] <@X> #FuturesTrades Info -> You must read #FuturesTrades purpose and benefits @
viewtopic.php?f=5&t=36 and TOU policy @
viewtopic.php?f=2&t=55 to prevent any misunderstandings.
[15:31] <+jbuch> Long ES @ 997.75
[15:33] <+jbuch> Exited 1/2 ES Long @ 999 --> + 1.25
[15:34] <JimL28> Shorts TF @ 559.3
[15:34] <+JimL28> 1
[15:34] <+JimL28> Covered all TF Short @ 558.8 --> + 0.5
[15:39] <+jbuch> Exited Remainder ES Long @ 999.75 --> + 2
[15:47] <jigglyhippo> Long ES @ 1000
[15:48] <+jigglyhippo> tight stop
[15:49] <+jigglyhippo> Exited 1/2 ES Long @ 1001 --> + 1
[15:52] <+jigglyhippo> Exited Remainder ES Long @ 1002 --> + 2
[15:54] <+jigglyhippo> 5 mins till mkt close
[15:56] <+jbuch> cut myself short on that
[15:56] <+jbuch> nice jh
[15:56] <+jigglyhippo> thanks
[15:57] <+Forex2stay> catch you guys tomorrow...
[15:58] <+jigglyhippo> later forex
[16:00] * Forex2stay is now known as Forex2stay_Away
[16:03] <@wrbtrader> Didn't trade the last hour as I usually do due to fixing some software problems.
[16:03] <@wrbtrader> Will reboot here soon to see if everything is working ok.
[16:10] <+jigglyhippo> have a good night all
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