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15 July 2005 (Friday)

Session Start: Fri Jul 15 09:01:15 2005
Session Ident: #t1
[09:29:01] <guy> 1 minute to open
[09:29:25] <signal>
[09:29:51] <guy> seems that esignal is working again so i can post charts
[09:30:10] <guy> Consumer Sentiment (p)
[09:30:10] <guy> 9:45 ET
[09:49:51] <mikee> gm
[09:51:39] <guy> hi mikee
[09:51:51] <guy> i've just corrected the single print on the forums
[09:52:02] <guy> i missed a single print trade yesterday
[09:52:16] <guy> so it's corrected now
[09:53:07] <guy> .
[09:53:31] <guy> Long at 09:52 for Single Print strategy at 662.2 in ER2
[09:56:47] <guy> Single Print stopped at -1
[10:07:53] <fspeculator> today i switched the short to ES
[10:07:58] <fspeculator> but ER seems speedier again
[10:17:14] <signal>
[10:17:23] <guy> Alpha been suggesting short so far today
[10:17:42] <guy> looks like single print support now resistance
[10:20:02] <guy> .
[10:20:10] <guy> Innerworth: Minimizing the Impact
[10:24:53] <fspeculator> i think i should have staid with ER
[10:26:35] <guy> i was sitting with my finger over the button on that last push up but didn't get the final part of the signal
[10:26:40] <guy> i wasn't flexible enough
[10:59:48] <signal>
[11:12:10] <signal>
[11:13:34] <signal>
[11:39:51] <guy> there's another single at 659.0 in ER2 which we have a chance of hitting today
[12:02:06] <fspeculator> considering 3pt IB
[12:02:26] <fspeculator> it could trend later
[12:05:09] <tuna> re spoos
[12:05:33] <fspeculator> tuna you were @ JP?
[12:05:36] <signal>
[12:06:14] <tuna> ya fs
[12:06:56] <fspeculator> how many ticks is RE in SP?
[12:07:39] <tuna> there are 6 tics now
[12:08:05] <tuna> jp says 3 is re
[12:08:26] <guy> technically it's 1 tick fspeculator and JP uses 3 but it's subjective and what you're comfortable with or believe works
[12:08:28] <fspeculator> 3 ticks in SP is 0.3pt
[12:08:36] <fspeculator> it's noise, one-ticking the IB
[12:08:53] <tuna> right guy
[12:09:06] <guy> IMO it's also how it breaks the IB
[12:09:25] <guy> if it spikes 5 ticks through the IB and then immediately returns into the IB within say 3 seconds
[12:09:36] <guy> then I would say that the IB is still intact and no RE
[12:09:51] <guy> probably a stop run (for example)
[12:10:02] <guy> so the nature of the RE is important - just my opinion
[12:10:52] <fspeculator> e.g. you can watch other indices
[12:11:10] <fspeculator> e.g. YM didn't bounce at all
[12:11:45] <fspeculator> btw you notice that VIX has now settled @10
[12:16:34] <fspeculator> today it made new 10yr lows
[12:29:28] <fspeculator> hadn't traded ES in 3mo
[12:29:44] <fspeculator> probab;ly this is the last time i do for the nexr 3mo
[12:30:07] <fspeculator> let the blackboxes fight eachother for halfticks
[12:37:15] <fspeculator> covered here...
[12:37:24] <fspeculator> better markets to waste margin capital
[12:38:34] <fspeculator> i didn't like the fact that R2k isn;t didn't make lows
[14:30:01] <guy> Oil Futures closed
[14:31:18] <signal>
[14:31:35] <guy> changing rotation factors in ER2 warned us about this up move
[14:33:54] <tuna> no warning in spoos
[14:37:32] <guy> IBH just above us now
[14:37:35] <guy> for ER2
[15:00:01] <guy> Bond Pit closed (electronic Bond open until 16:00 ET)
[15:03:06] <mikee-away> signal is down
[15:04:18] <guy> esignal?
[15:05:10] <tuna> no mikee signal
[15:05:16] <tuna> mikee's
[15:05:35] <guy> okay
[15:05:53] <guy> ah - the signal is to short :)
[15:06:05] <tuna> yeah
[15:06:07] <guy> you'd never guess that i was a genuis
[15:06:20] <tuna> he told us about yesterday
[15:06:27] <tuna> lol
[15:07:33] <mikee-away> if i wouldn't gone next week due to trip to LA, i would be short
[15:08:55] <mikee-away> so good trading and i'll see you 7/25
[15:10:19] <guy> have a good trip mikee
[15:10:28] <guy> business or pleasure?
[15:10:49] <mikee-away> thanks guy, it's convention
[15:11:06] <guy> trading?
[15:11:18] <mikee-away> NO
[15:11:47] <tuna> trading convention is here guy
[15:11:59] <mikee-away> herbal convention, chinese alternative
[15:12:24] <mikee-away> which i'm using for over 10years
[15:13:07] <mikee-away> es 1233.5 bar was volume capitulation
[15:13:25] <guy> tell us all about it when you get back
[15:14:52] <mikee-away> you mean chinese altern.?
[15:15:08] <mikee-away> or signal? :)
[15:15:18] <tuna> both
[15:15:43] <mikee-away> k, actually i'm coming every year
[15:16:21] <mikee-away> over 4000 people from 34 countries
[15:17:08] <mikee-away> but er2 target 668.3-668.5 :)
[15:17:34] <mikee-away> as 50% retr. and 2fib. levels
[15:19:53] <mikee-away> 666 is pullback to prev. consolidation area, but if break then 665.3 next
[15:22:00] <mikee-away> oh i have poss. turn point (starting in 5min) but it's may already begun
[15:23:12] <mikee-away> fib. talking if we break 1 retr. level we usually going to next one, which is 668.3
[15:23:59] <mikee-away> confirm. will come over last high
[15:24:18] <guy> this might be a short here in the ER2...
[15:24:49] <mikee-away> we need to see how it's behave after we hit
[15:25:36] <mikee-away> but agree ss is objective with tight stop
[15:25:54] <mikee-away> next level up is 670.25
[15:27:14] <mikee-away> you see last supp. was 667.6 we came to 667.5
[15:28:04] <mikee-away> we may not go over with this volume capitul.
[15:28:31] <mikee-away> below 666 is short
[15:28:45] <mikee-away> to target 665.3
[15:28:59] <mikee-away> lower 664.3
[15:29:32] <guy> we might have a single print at 665.6
[15:29:35] <mikee-away> at support now
[15:29:38] <guy> in 30 seconds
[15:29:42] <guy> which is also IBH
[15:29:49] <guy> no - single filled in
[15:29:54] <guy> but now at IBH
[15:30:13] <mikee-away> 665.3 is 20ma also so it's target for now
[15:31:31] <mikee-away> scenario: if we break 665.3, wait for pullback to it and go short
[15:38:25] <guy> this looks like another short on ER2 here - same signal as above
[15:39:12] <mikee-away> for confirmation we need to break 665.3
[15:39:45] <mikee-away> 38% retr. usually tells about strenth
[15:40:59] <mikee-away> another res. area here and tl
[15:41:29] <mikee-away> 666.9 next
[15:41:49] <mikee-away> 666.7 sry
[15:41:55] <mikee-away> as .618
[15:42:20] <mikee-away> 677 is .786
[15:42:35] <mikee-away> we going test 667.5
[15:43:30] <mikee-away> i would go long here
[15:43:46] <mikee-away> at 666.5
[15:44:46] <mikee-away> too slow, no one goinf bet ahead of w/e
[15:46:15] <tuna> yeah i have my doubts that the close anything red today
[15:46:19] <tuna> the=they
[16:13:23] <guy> Anybody got the MP numbers for SP for monday?
[16:15:02] <guy> have a safe weekend everyone
[16:15:05] * Disconnected
Session Close: Fri Jul 15 16:15:08 2005