##TheStrategyLab Price Action Chat Room Logs

Note: The chat log below represents the free chat room called #FuturesTrades . Also, any trader can use the chat room to post their trades. Simply, you don't need to be a client of TheStrategyLab.com to use the chat room nor do you need to be a price action only trader (no indicators) because some members use indicators while others do not.

Therefore, we welcome traders with their own methods and different perspective of the markets.

Also, our primary job in the free chat room is to moderate the room (keep the peace) because with so many members using different methods along with different opinions about the market...debates or arguments can easily flare up without moderating. In addition, our presence in the chat room is to ensure it's a spam free chat room during trading although these archived chat logs may contain advertisments for guest visitors. More information about #FuturesTrades @ http://www.thestrategylab.com/FuturesTradesChatRoom.htm

Further, to prevent the usual mix-up about our different chat rooms, most of our fee-base clients do not use chat rooms just like most retail traders do not use chat rooms. Yet, the few clients that do use chat rooms, our fee-base clients are discussing market analysis or trade signals via concepts from our strategies in the private chat rooms called #VolatilityTradingTSL or #SwingTradingTSL and they're not allowed to do such in #FuturesTrades.

By the way, our Terms of Use (TOU) Policy is a must read to prevent any misunderstandings along with revealing that #FuturesTrades is a serious professional trading chat room and we expect members to act professional.

------------------------

Session Start: Thu Jul 16 08:19:20 2009
Session Ident: #futurestrades
[08:19] * Now talking in #futurestrades
[08:19] <@X> [NihabaAshi] Announcement: The new trade posting script v3.7 (replaces v3.6) is posted at your forum in the "Announcements" thread.
[09:06] <TradeLancer> http://traderfeed.blogspot.com/2009/07/ ... -what.html
[09:16] <+TradeLancer> global economic/financial daily events: http://www.forexfactory.com/
[09:17] <+TradeLancer> 10:00am USD Philly Fed Manufacturing Index, 10:30am USD Natural Gas Storage, 1:00pm USD NAHB Housing Market Index
[09:19] <+TradeLancer> good big picture overview: http://leavittbrothers.com/before-the-o ... /07/16.cfm
[09:30] <drt> all
[09:31] <Awash> good morning all
[09:32] <luffy>
[09:34] <+drt> s es 26.50
[09:46] <@NihabaAshi> Good morning all...
[09:46] <@NihabaAshi> I'm currently experimenting with an active members profile world map @ http://www.thestrategylab.com/FuturesTr ... ofiles.htm
[09:47] <@NihabaAshi> I've put a few names on it.
[09:47] <@NihabaAshi> Let me know what you think (good or bad)
[09:47] <codehead> short ES 928.75 2c <paper>
[09:47] <+codehead> cash filled gap
[09:48] <jbuch> looks good wrbtrader
[09:48] <+drt> cs es 29
[09:48] <@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.
[09:49] <+TradeLancer> nq trying to hold above the hi's, don't have DAX right now
[09:49] <+codehead> 6 tick stop ES <paper>
[09:49] <+codehead> news coming, forgot about that
[09:49] <@NihabaAshi> yep
[09:51] <+codehead> stopped -1.5 <paper> not a good place for stop, but remembered news...
[09:52] <+codehead> 930.75, yesterday high, first res
[09:58] <@NihabaAshi> Shorts ES @ 929.00 -> medium size
[09:58] <@NihabaAshi> 4 only
[10:00] <+codehead> "Philly Fed" makes me hungry
[10:02] <+TradeLancer> Philly Fed Manufacturing Index -7.5 vs -4.9forcst vs -2.2 prev
[10:02] <+jbuch> lol
[10:02] <@NihabaAshi> Covered 1/2 ES Short @ 926.75 --> + 2.25
[10:02] <+jbuch> nice wrbtrader
[10:03] <+TradeLancer> let's see how the traders' 'digest' that...
[10:05] <+jbuch> I am braindead ,got no last night. gonna get some coffee, .
[10:11] <@NihabaAshi> weak support area
[10:13] <pdays> Shorts ES @ 925.5
[10:14] <+pdays> Covered all ES Short @ 924.5 --> + 1
[10:15] <+jbuch> Long ES @ 925.25
[10:15] <TraderG> 82% of the days the High or Low of the day is reached before 11:30AM
[10:16] <+TraderG> 72% of the days the High or Low of the day is reached AFTER 2:30PM
[10:17] <@NihabaAshi> Covered ES Short @ 926.25 --> + 2.75
[10:17] <@NihabaAshi> Reverse and Enter Long ES @ 926.25
[10:19] <+jbuch> Exited all ES Long @ 926.5 --> + 1.25
[10:20] <@NihabaAshi> Exited all ES Long @ 925.50 --> - 0.75
[10:20] <@NihabaAshi>
[10:21] <+jbuch> good stats traderG thanks.
[10:22] <@NihabaAshi> Shorts ES @ 925.25 -> small size
[10:22] <@NihabaAshi> 3 only
[10:24] <@NihabaAshi> FED hearing sucking the energy (volatility) out of the market right now
[10:27] <@NihabaAshi> Covered all ES Short @ 926.25 --> - 1
[10:27] <+TraderG> 62% of the days the High or Low of the day is reached in the first or last hour
[10:27] <+TraderG> BTW if u guys don't want the stats just let me know and i will stop
[10:27] <@NihabaAshi> What's the % by 4:00pm est
[10:28] <@NihabaAshi>
[10:28] <+TraderG> sorry?
[10:28] <+TraderG> oh
[10:28] <+TraderG> ithe last hour is by 4PM
[10:28] <+codehead> short ES 927.50 <paper> 3 pt stop, 2 pt target
[10:29] <@NihabaAshi> TraderG...is that via the index or futures
[10:29] <+TraderG> SPY which I use as a proxy for ES
[10:29] <@NihabaAshi> Ok
[10:30] <+TraderG> the correlation between the 2 is close to 100%
[10:31] <+TraderG> i have limited historical ES data and the rollover creates some problems but I have more than 20 years of data on the SPY
[10:31] <@NihabaAshi> That implies between 4:00pm to 4:15pm est new highs or new lows aren't occurring for the Emini ES.
[10:32] <+TraderG> they may be occuring but I have no way of including that info in my calculations
[10:32] <@NihabaAshi> Ok
[10:34] <+jbuch> Shorts ES @ 928.25
[10:36] <+jbuch> Covered all ES Short @ 928.5 --> - 0.25
[10:37] <OICU812> we are stuck between to big TL
[10:37] <@NihabaAshi> Long ES @ 929.00 -> small size
[10:37] <@NihabaAshi> 3 only
[10:44] <@NihabaAshi> Exited all ES Long @ 928.75 --> - 0.25
[10:44] <@NihabaAshi>
[10:45] <@NihabaAshi> FED price action oscillations are a pain in the butt.
[10:45] <+luffy> fed announcement today?
[10:46] <@NihabaAshi> Long ES @ 929.25 -> small size
[10:46] <@NihabaAshi> 3 only
[10:46] <@NihabaAshi> intuition
[10:46] <@NihabaAshi> no
[10:49] <+jbuch> Shorts ES @ 928.75
[10:50] <rickf> all
[10:50] <+TradeLancer> I thnk wrbtrader means Paulsen testimony
[10:50] <+rickf> fyi not sure how much i will trade today - dealing with condo board issues that have me in a less-than-tradable mood
[10:51] <jigglyhippo> Shorts ES @ 928.50
[10:51] <+jigglyhippo> probably my only trade today
[10:51] <+jigglyhippo> still not feeling well
[10:51] <+rickf> nice map wrbtrader
[10:52] <@NihabaAshi> Exited all ES Long @ 928.00 --> - 1.25
[10:53] <@NihabaAshi> This is a tight 1.75 FED price action...
[10:54] <+jbuch> Covered all ES Short @ 928.5 --> + 0.25
[10:54] <@NihabaAshi> As soon as the financial networks "stop their coverage" of the hearings...the volatility will return.
[10:55] <+jbuch> Long ES @ 928.5
[10:55] <@NihabaAshi> I've read that most networks have a 30min timeout from hearings like this.
[10:56] <@NihabaAshi> Simply, after 30mins...they'll stop following it and go back to the market news for 30mins before returning to the FED hearings
[10:56] <+jigglyhippo> Covered all ES Short @ 928.50 --> +0
[10:56] <+luffy> ok cool thnx guys
[10:57] <@NihabaAshi> Two networks just stopped following the FED hearings at the EXACT same time
[10:57] <+jbuch> Exited all ES Long @ 927.75 --> - 0.75
[10:57] <+rickf> bloomie too
[10:57] <gabe> Shorts ES @ 928.25
[10:57] <+rickf> w...t.....f
[10:57] <@NihabaAshi> Make that three
[10:58] <+rickf> c-span ok
[10:58] <+rickf> c-span.org
[10:59] <+codehead> exit ES short flat <paper> due to time limit on trade
[11:00] <@NihabaAshi> Long ES @ 927.75 -> small size
[11:00] <@NihabaAshi> 3 only
[11:00] <+gabe> Covered all ES Short @ 927.25 --> + 1
[11:02] <+jbuch> Long ES @ 927.5
[11:05] <+codehead> oil comeback--USO closed gap
[11:05] <+rickf> paulson must be wearing flame-retardant suit today
[11:05] <@NihabaAshi>
[11:06] <@NihabaAshi> Those FED guys sound like those Mafia hearings back in the 70's
[11:07] <+jbuch> Exited all ES Long @ 928.75 --> + 1.25
[11:07] <+rickf> lol
[11:07] <+rickf> we're the fed, we make you an offer you can't refuse
[11:07] <@NihabaAshi> I bet the FED owns a major stake in casinos in Vegas
[11:09] <+jbuch> down trendline holding
[11:10] <@NihabaAshi> Exited all ES Long @ 927.75 --> 0
[11:12] <@NihabaAshi> volatility returning...not sure why when the financial networks "refuse" to stop following the FED hearings
[11:13] <+rickf> thank gods for cspan i guess
[11:13] <@NihabaAshi> The market will need to move about 10 points (Up or Down) for force the networks to stop following the FED hearings.
[11:13] <+rickf> maybe folks are angry at hearing paulson's gravelly voice for so long?
[11:13] <+rickf> true
[11:16] <@NihabaAshi> Long ES @ 926.50 -> medium size
[11:16] <@NihabaAshi> 4 only
[11:17] <+jbuch> Long ES @ 926.5
[11:17] <@NihabaAshi> Exited all ES Long @ 926.25 --> - 0.25
[11:18] <@NihabaAshi> Shorts ES @ 925.75 -> medium size
[11:18] <@NihabaAshi> 4 only
[11:18] <+jbuch> Exited all ES Long @ 925.75 --> - 0.75
[11:19] <@NihabaAshi> volatility still returning back to the market...
[11:19] <@NihabaAshi> Hopefully it's because everybody has grown tired of the FED hearings
[11:20] <+codehead> tick fade trade would have hit target if not timed out
[11:21] <@NihabaAshi>
[11:23] <+codehead> fed up with fed
[11:27] <+rickf> short es 926
[11:27] <@NihabaAshi> me too
[11:29] <@NihabaAshi> I'm in the red by about a 1.50 with commissions.
[11:29] <@NihabaAshi>
[11:32] <+rickf> out 925.50 +.50
[11:36] <@NihabaAshi> Covered all ES Short @ 925.50 --> + 0.25
[11:36] <@NihabaAshi>
[11:36] <+rickf> woo hoo
[11:37] <+rickf> 1 tick 2 tick
[11:37] <+rickf> red tick green tick
[11:37] <+rickf>
[11:37] <+rickf> feels like fed day
[11:39] <@NihabaAshi> FYI - Here's that #FuturesTrades member world map @ http://www.myzebramap.com/815k8673Rd4l/
[11:39] <@NihabaAshi> I'll be asking others in here not on the map what their city location is so that I can include you on the map.
[11:42] <+TraderG> that is neat
[11:43] <+TraderG> 75% of Opens within the High to Low of the prior day reached the Close of the prior day
[11:43] <+TraderG> sort of a gab within an insideopen day
[11:43] <+TraderG> gab=gap
[11:44] <+luffy> short 26.75
[11:45] <+luffy> +1 1/2 out
[11:46] <+jbuch> Long ES @ 926.25
[11:46] <+luffy> Be on 1/2
[11:48] <+gabe> Long ES @ 926.50
[11:49] <+TraderG> 30% of bars open OUTSIDE prior day range (High - Low). 83% of those gaps are closed to 1 of the extremes of the prior day within 1 day.
[11:50] <+rickf> lol ... was getting ready to go short again, and as i was typing my order into chat, realized it was right where i got out previously.
[11:50] <+luffy> hey TraderG have u read toby crabel?
[11:50] <+rickf> hence i remembered tight range and decided to wait
[11:51] <+TraderG> parts
[11:51] <+luffy> alot of ur studies sounds like the stuff i was reading from toby... interesting
[11:51] <+TraderG> the problem with the stats is WHAT 2 DO with them
[11:51] <+luffy> i was thinking of doing something similar
[11:51] <+luffy> true
[11:51] <@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.
[11:51] <+luffy> have u done studies of trending days?
[11:52] <+TraderG> i wrote over 400 statistical scripts but it did not make me $$$$ yet
[11:52] <+TraderG> but it will soon
[11:52] <+luffy> its ok it will!
[11:52] <+rickf> lunchtime
[11:53] <+jbuch> which way will she pop
[11:53] <+TraderG> SHE will stay in a range 2 day
[11:54] <+luffy> 2 day? u mean today?
[11:54] <+jbuch> yeah I believe that
[11:54] <+TraderG> but then again with a SHE u never know
[11:54] <+jbuch> it is why I am long
[11:54] <+luffy> lol
[11:54] <+TraderG> 2day = today
[11:55] <+luffy> k
[11:55] <+luffy> mkt just stopped moving...
[11:55] <+TraderG> i am trying 2 save time typing since I am so busy entering orders ))))
[11:55] <+luffy> ok np
[11:55] <+luffy> long
[11:55] <+luffy> 26.5
[11:56] <+TraderG> i think I will install a timer 2 wake me up every 5-10 minutes
[11:56] <+luffy> lol
[11:56] <+jbuch> come on sweet thing
[11:57] <+luffy> come on... up up up
[11:57] <+TraderG> <luffy> have u done studies of trending days? like what kind?
[11:58] <+luffy> ie. if we open up from ysterdya's range than open range does x chance of trending day up
[11:58] <+luffy> 1st car out
[11:58] <+luffy> +1
[11:58] <+luffy> stop moved to be+1
[11:58] <+gabe> Exited all ES Long @ 927.50 --> + 1
[11:58] <+jbuch> broke the down trend line
[11:58] <+luffy> 2nd car shoot for hod
[11:58] <+TraderG> i am working on tht now
[11:59] <+luffy> i'm tryihng to figure out the exact measurements
[11:59] <+luffy> nr2-4+orb
[11:59] <+luffy> type of play
[11:59] <+luffy> have u found any other types of measurement worthy of trying?
[12:00] <+jbuch> Exited all ES Long @ 928.25 --> + 2
[12:01] <+TraderG> i am working on the relationship between the BODY of a candle in relation 2 its RANGE and the probability of having a TREND day after x RANGE days
[12:01] <+luffy> ok
[12:01] <+TradeLancer> FYI - http://traderfeed.blogspot.com/2009/07/ ... range.html
[12:01] <+TraderG> the problem is defining a RANGE DAY and a TREND day
[12:01] <+luffy> u can use NR definition
[12:01] <+luffy> WS for trending
[12:01] <+luffy> NR or ranging
[12:02] <+luffy> u know what i mean?
[12:02] <+luffy> from toby's def
[12:03] <+luffy> also might be good to inlcude volume in the study... ie. or vol... does it break with good vol vs. low vol
[12:03] <+TraderG> thanks TL that was interesting
[12:03] <+luffy> jb, good link thnx
[12:03] <+TraderG> WS ???
[12:03] <+jbuch> hmm
[12:04] <+TraderG> luffy the link was from TL
[12:04] <+luffy> oh oops
[12:04] <+luffy> thnks tl
[12:04] <+luffy> anyone still long?
[12:04] <+TraderG> WS ?? what is WS?
[12:04] <+luffy> wide spread bar
[12:04] <+luffy> widest bar in last x bars
[12:04] <+rickf> bak
[12:05] <+TraderG> i c
[12:05] <@NihabaAshi> Long ES @ 928.50 -> medium size
[12:05] <@NihabaAshi> 4 only
[12:06] <+TradeLancer> in Steenbarger post he's links to another post on VWAP calc's that help in defining trading range
[12:06] <+luffy> that's interesting... link?
[12:06] <+jbuch> Long ES @ 928.25
[12:07] <+rickf> short es 928
[12:07] <+luffy> room fading each other!
[12:08] <+TradeLancer> http://traderfeed.blogspot.com/2009/06/ ... p-and.html
[12:08] <+TraderG> i guess the above 2 opposing trades would explain why the markets move at random
[12:08] <+luffy> thnx
[12:12] <+luffy> crap crazy triangle today
[12:12] <+luffy> i'm targeting a breakout... hmmm
[12:12] <+luffy> iono if that's good r:R
[12:17] <+OICU812> dont forget that r/r and probability are two very different things
[12:18] <+rickf> out 927.75 +.25
[12:18] <+rickf> taking too long
[12:19] <+rickf> still looking down but too long to move
[12:19] <+luffy> yea oic... probably not good prob of a break of triangle just because im in a long position.. should switch to short
[12:20] <+jbuch> Long ES @ 927.75 -> Add
[12:20] <+rickf> good luck jb
[12:20] <+luffy> lol
[12:21] <+OICU812> there you go jinxing my short JB
[12:21] <+OICU812> lol
[12:22] <+rickf> 928 major battle line
[12:24] <+rickf> i wonder if we'll roll over this afternoon into the close so that options folks who got caught this week can minimize their losses as their short calls exploded ITM
[12:25] <+codehead> short ES 928.00 <paper>
[12:27] <+codehead> financial looks like could turn up...
[12:27] <+jbuch> Exited 1/2 ES Long @ 928.25 --> + 0.5
[12:28] <+OICU812> hard to figure out where its going to go, has potential both sides
[12:28] <+jbuch> come on sweety pie
[12:28] <+codehead> financial...
[12:28] <+OICU812> there you go
[12:28] <+OICU812> upside
[12:28] <+jbuch> flag typ break out he way they come in
[12:28] <+codehead> exit ES -.75 <paper>
[12:30] <+jbuch> Exited all ES Long @ 928.25 --> 0
[12:31] <+jbuch> lotta work for nada
[12:32] * Looking up JimL user info...
[12:32] <+codehead> everything in a coma here
[12:33] * Looking up TradeLancer user info...
[12:33] <+jbuch> Long ES @ 926.25
[12:34] * Looking up TradeLancer user info...
[12:34] * Looking up JimL user info...
[12:37] <+OICU812> 26?
[12:37] <+jbuch> oops
[12:38] <+jbuch> Exited all ES Long @ 926 --> - 0.25
[12:38] <+OICU812>
[12:38] <+jbuch> entry 928.25 exit 928
[12:38] <+luffy> out +1.75
[12:39] <+rickf> feh ... i'm off to get a haircut and food shop ... should be more exciting
[12:39] <+rickf> back later
[12:44] <+jbuch> Long ES @ 928.25
[12:44] <+jbuch> 1 more time with my old friend
[12:48] <+jbuch> Exited all ES Long @ 928.5 --> + 0.25
[12:48] <@NihabaAshi> My eyes are getting tired again
[12:48] <+codehead> short ES 928.50 <paper>
[12:48] <+jbuch> tired
[12:51] <+jbuch> Jeez i was so focused there did not realize that my daughter was in my lap
[12:52] <+jbuch> don't remember picking her up or anyhthing.
[12:52] <@NihabaAshi> ES should be at 929.50 by now
[12:52] <+codehead> exit ES -
[12:52] <@NihabaAshi>
[12:52] <+OICU812> what do you guys see, long or short?
[12:52] <+jbuch> Long ES @ 928.75
[12:53] <+jbuch> same thing as before flag after a strong move up
[12:53] <+jbuch> and the lows r getting higher
[12:54] <+OICU812> well ihave a long so was checking
[12:54] <+jbuch> but I broke my rule and got in at the top of the range
[12:54] <+OICU812> lol
[12:55] <@NihabaAshi> Exited all ES Long @ 928.25 --> - 0.25
[12:55] <@NihabaAshi> I had a ton of patience on that trade...held it for about 50 mins.
[12:55] <+jbuch> Exited all ES Long @ 927.75 --> - 1
[12:55] <+jigglyhippo> have to head out
[12:55] <+jigglyhippo> see you guys tomorrow
[12:55] <+jigglyhippo> gluck trading
[12:55] <@NihabaAshi> However, my eyes are blood shot red and I'm starving.
[12:55] <@NihabaAshi> Be back later after some rest
[12:55] * NihabaAshi is now known as NihabaAshi_away
[12:56] <+codehead> exit ES +1.00 <paper>
[12:56] <+jbuch> bummer
[13:02] <+jbuch> Long ES @ 927.5
[13:06] <+jbuch> Exited all ES Long @ 927 --> - 0.5
[13:07] <+jbuch> think I am just being stubborn gonna takke a break
[13:07] <+OICU812> who remembers when markets used to move? lol
[13:08] <+luffy> lol i'm watching colbert report from last night
[13:08] <+luffy> i guess the triangle held
[13:14] <+jbuch> Long ES @ 926.25
[13:19] <+jbuch> Exited all ES Long @ 927 --> + 0.75
[13:23] <+jbuch> broke the down tl
[13:24] <+jbuch> and was a test of the top of that triangle shoulda kept it
[13:32] <+TradeLancer> JB, clarify 4 me, u mean that the dwn TL should have held (as support) to keep the trend up in play to breakout of the triangle (am session) to the upside.
[13:34] <+jbuch> I am actually trying to upload a screen shot of the setup with my trendlines and my entries
[13:34] <+jbuch> can't figure out how
[13:36] <+jbuch> I guess that u can't do that will send it to u via skype
[13:37] <@NihabaAshi_away> Be right back...gotta reboot
[13:37] <+TradeLancer> i know there's an easy way, (i don't know how) but I see it on other mirc rooms, somebody here must know how & maybe could show us so we can share charts
[13:38] <+jbuch> yeah that would be cool sent it to morning guys tl
[13:40] <+jbuch> now we're back on what was the lower tl of that triangle with a tick divg.
[13:40] <+jbuch> shoot missed it
[13:41] <@NihabaAshi_away> nevermind
[13:41] <@NihabaAshi_away> will do later
[13:41] * NihabaAshi_away is now known as NihabaAshi
[13:43] <@NihabaAshi> Long ES @ 928.00 -> medium size
[13:43] <@NihabaAshi> 4 only
[13:51] <@NihabaAshi> Exited 3/4 ES Long @ 929.00 --> + 1
[13:52] <luffy> short28.75
[13:52] <+luffy> stooped
[13:53] <@NihabaAshi> Exited Remainder ES Long @ 930.00 --> + 2
[13:57] <@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.
[14:07] <+gabe> Shorts ES @ 930.75
[14:15] <+gabe> Covered all ES Short @ 931.75 --> - 1
[14:16] <@NihabaAshi> Long ES @ 932.00 -> small size
[14:16] <@NihabaAshi> 2 only
[14:16] <@NihabaAshi> intuition
[14:27] <@NihabaAshi> Exited all ES Long @ 933.50 --> + 1.5
[14:39] <+rickf> back
[14:39] <+rickf> aaaand i miss the move up
[14:39] <+rickf> right as i leave, too
[14:39] <+rickf> grrr
[14:40] <+OICU812> been on a while
[14:40] <+OICU812> almost an hour
[14:40] <+OICU812> finally some movement
[14:41] <+rickf> at least i got a nice haircut and some sun
[15:04] <drt> l es 36
[15:06] <@NihabaAshi> weak support area
[15:14] <@NihabaAshi> Long ES @ 936.00 -> small size
[15:14] <@NihabaAshi> 2 only
[15:14] <+drt> cl es 36
[15:41] <@NihabaAshi> Exited all ES Long @ 939.25 --> + 3.25
[15:42] <+gabe> beautiful!
[15:48] <+jbuch> Shorts ES @ 940.5
[15:51] <+jbuch> Covered all ES Short @ 939.5 --> + 1
[15:51] <+jbuch> right at the trend channel line on the daily
[15:55] <+jbuch> dang just a lil more patience
[16:00] <+rickf> vn
[16:00] <@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.
[16:01] <+rickf> GOOG and IBM due out soon
[16:01] <+rickf> major influencers
[16:01] <+jbuch> is bac today as well
[16:02] <+rickf> goog is out
[16:02] <+rickf> just beware if you're trading
[16:08] <+jbuch> no thats right bac and c r tomorrow
[16:09] <+rickf> i really try to fight the feeling we're bouncing up and the march lows were "it"
[16:09] <+rickf> even tho i dont think that's the case it's hard to argue with the tape these weeks
[16:11] <+jbuch> all the big companies r nailing it
[16:12] <+jbuch> 200 day ma held pretty well
[16:12] <+jbuch> if bac hits and c beats should get interesting
[16:14] <+jbuch> bought a bunch of slv yesterday am hoping that these tech companies keep on showing good earnings
[16:16] <+rickf> interesting idea
[16:17] <+rickf> pithy predication from tim melvin --
[16:17] <+rickf> "We are already up 7% this week. If Citigroup and Bank of America conjure up good reports in the morning the lift off will make the Space Shuttle launch look like a backyard rocket kit."
[16:17] <+rickf> I would add GE to that list
[16:17] <+jbuch> everything is in place the commodities r cheap interest rates r low
[16:18] <+rickf> jb - indeed
[16:18] <+rickf> i've been playing fx on the side this week
[16:18] <+jbuch> goldilocks
[16:18] <+rickf> commodity county currencies are hot
[16:19] <+jbuch> yeah i agree on ge
[16:19] <+rickf> unless CIT declares tomorrow
[16:19] <+rickf> then add in expiration and ZMG schizophrenic market
[16:20] <+jbuch> if they come in strong all of the major sectors will be represented
[16:21] <+rickf> yeah
[16:22] <+jbuch> have a good night all
[16:22] <+rickf> not mentioning specific companies, i hate when momentum companies announce earnings at expiration....makes using options to trade them a high risk price action
[16:22] <+rickf> you too
[16:22] <+rickf> i'll call it a night too
[16:22] <+jbuch> thanks
[16:22] <+rickf> see y'all tomorrow
[16:50] <@NihabaAshi> Take care and see all tomorrow.
[16:50] * NihabaAshi is now known as NihabaAshi_away
Session Close: Thu Jul 16 16:56:36 2009

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