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June Chat Logs


Monday, June 1st

9:09 koolblue: same pattern... big money flat, small money buying!
09:17 Robin: 8:45 the futures are trading firmly to the upside in pre-open, currently suggesting an SPX CASH open in the vicinity of
the 936-936 area. with the gap opening to the upside, firm support for today's session will be Friday's 920 close, with
first support at the 930 level - the prior swing top. resistance will be first at the 938 weekly projected resistance high,
then in a range betwen the 943-950 area. for the daily chart, Friday's push above the 914 level put the 10-day upward
phase back in force; the 20 and 45-day cycle upward phases are still deemed to be in force off the 878.94 swing low,
with the 20-day target to the 934.36 - 947.27 level looking to be satisfied with the early action. hourly chart was bullish
on the SPX above the 903 level, which will remain the case as we head into today's session. Note: I have to be out for
the greater-majority of today's session, next post later in the afternoon. here is the hourly cycle/channel chart updated to
Friday's close:
09:17 Robin: jim curry..
09:17 Robin: good morning everyone :)
09:18 palmer: moring Robin
09:18 palmer: morning everyone
09:18 Robin: morning Kool :)
09:19 Robin: Good Morning, overnight all world markets are trading higher. Today the 10 point futures pump came at the Asian side. Must be just a coincidence Treasury Geithner is in Asia today.... d:^). They come in at 02:15 to 02:30 pumping the futures from 924 to 932.5. At 09:00 futures are at 932.50 so we get the forced gap up open above the 930 high this morning. In two weeks we have now seen the three ways they pump the futures to force cash buy programs at our open, twice at 03:00 Europe, once at 07:00, our market and now the Asian at 02:15. Those time frames 10 point futures pumps are set in stone, seen it a thousand times since the 2003 low.
09:19 Robin: Larry T
09:42 TraderX: r
09:42 TraderX: Robin, who is Larry T?
09:46 VO: bonds, dollar getting crushed
09:50 VO: huge tick div
09:53 kenga: trying short
09:55 palmer: yep
10:00 kenga: take 3 & 3 left
10:00 kenga: stope at BE
10:00 kenga: stopped
10:02 kenga: Jun 5 8:30 AM Average Workweek 33.2 High
Jun 5 8:30 AM Hourly Earnings 0.2% High
Jun 5 8:30 AM Nonfarm Payrolls -550K High
Jun 5 8:30 AM Unemployment Rate 9.2% High
10:04 bruce9432: GM Low=.27 High 22.91?
10:20 DeepTrader: GM guys
10:20 kenga: morning@!
10:22 DeepTrader: whats driving this rally?
10:25 bruce9432: have 10
10:27 VO: s 42
10:28 DeepTrader: odd...i've still got the usua; 5 levels on NT
10:31 VO: 1 @ 40
10:35 prestwickdrive: :-)
10:42 kenga: we are not getting these big moves up and down today
10:42 kenga: I guess its the beggining of the month
10:43 prestwickdrive: next higher single ticks 43.25-49.0
11:07 prestwickdrive: sq 9 @ 946
11:07 Robin:
11:07 VO: flat
11:07 Robin: i'm looking for the extension of the range...
11:08 Robin: which will create the div.
11:08 Robin: also.. on 1 min.. I have 7 waves now
11:16 dda: high of 2009 was 942.75 from 1/6/09
11:16 dda: today is 6/1/09 and we got 943
11:23 bruce9432: is GM still in the Dow?
11:25 gila: no gm and c are out trvls and csco are in
11:26 bruce9432: ty
11:35 bruce9432: Obama to speak on GM bk @11:55:edt
11:39 VO: L SSO June 29 puts @ 2.15
11:57 bruce9432: no doubt about it, Obama is running GM now.
12:24 LordAlfa: See you guys. Off the sleep.
12:39 TraderX: do you guys see a short entry right here?
12:41 koolblue: just sold 944.00...
12:41 bruce9432: hello kool
12:41 TraderX: insane
12:59 koolblue: covering one here
12:59 koolblue: out one at 942.00...plus 2 there..
13:00 koolblue: lowering stop to b.e.
13:02 koolblue: looking to exit the other around 936-7.50
13:05 prestwickdrive: bond bounce mirroring ES
13:47 koolblue: stopped at breakeven on the second half....watching
13:48 palmer: those maps wrong today
13:49 koolblue: pulling a Britney Spears...back in 10 min
13:53 Robin: 13:38, charts updated, the ole futures pump forced cash buy programs trick has pushed the cash into the 938-945 target window. If this stall now continues two days then odds are very good this is the place to put on some shorts.
13:53 Robin: larry T
13:53 Robin: I did in fact put ono some shorts :)
13:54 Robin: puts.. that is..
13:54 kenga: thank you Robin!
13:58 prestwickdrive: 946 sq 9
13:58 kenga: by the way if volume is light today..its because holiday in europe
13:58 prestwickdrive: 49.0 fills singles
14:02 koolblue: selling here
14:03 koolblue: short from 946.25
14:13 koolblue: out one at 944.50...plus 1.75 there
14:20 Robin: kool.. I sold 46.75
14:20 Robin: i'm still holding...
14:20 Robin: for lower
14:20 Robin: :)
14:21 Robin: I want to see it collapse :)
14:21 Robin: so many divergenses
14:22 Robin:
14:22 Robin: just breakthis uptrend line...
14:34 Robin: ok.. thanks Kool :)
14:34 Robin:
14:35 Robin: BE
14:35 prestwickdrive: 15 min proj 39.5
14:38 koolblue: exiting at 942.25 cause of all the vol. at 942.00...expect lower in time tho
14:38 Robin:
14:38 Robin: breaking TL.. gives encouragement
14:40 koolblue: lowering stop to 945.75
14:42 Robin: :)
14:42 Robin: i'm with you Kool :)
14:42 Robin:
14:43 Robin: we broke TL on the macd line
14:43 Robin: to the downside...
14:46 Robin: stopped out at 44.75
14:46 Robin: will look to re enter
14:46 Robin: cause i'm not smart enough :)
14:49 koolblue: will exit 942.75 cause of the looming mini low
14:50 koolblue: out at 942.75...plus 3.5 on that half
15:04 VO: s 1 @ 42.50
15:07 Robin: ok..
15:07 Robin: re entered at 43
15:07 Robin: exit at 41.25
15:07 Robin: :)
15:09 VO: flat 40.75
15:11 kenga: 40.75
15:14 prestwickdrive: singles 38.0-39.0
15:17 koolblue: long one only from 939.25 ..just looking for 2-25 handles
15:26 koolblue: out at 941.75...plus 2.5 on that one...watching
15:27 kenga: that was the long I was looking for
15:27 kenga: just wasnt sure this time
15:53 kenga: tryingh short
15:53 kenga: 45
15:53 VO: s 45.50
15:55 kenga: take 3 here
15:55 kenga: 44.25
15:55 kenga: 44 filled
15:55 kenga: all out
15:55 kenga: 42.75
15:55 VO: stop 44.75
15:57 VO: 1 @ 41
15:57 kenga: experience always proceeds youth!
15:57 kenga: nice job Vo
15:57 VO: stop 43.50
15:58 VO: bullish pattern ?
15:58 VO: be careful
15:59 kenga: a mini gartley
15:59 VO: flat
16:01 kenga: days like this seems ez
16:01 kenga: the moves are small and compact
16:07 kenga: sorry power went out
Tues. June 2

09:24 myptofvu: good morning
09:27 VO: GM Traders
09:27 Margie: Good morning
09:28 PashaLV: GM everyone )
09:29 kenga: trying short
09:29 kenga: 38.75
09:30 VO: L 39.50
09:32 VO: stop 36.50
09:32 kenga: I could be wrong but it looks like 936.75
09:33 bruce9432: gm
09:33 kenga: morning Everyone
09:34 kenga: take 3 .75
09:34 kenga: 3 left
09:34 kenga: try to get to 36.75
09:35 kenga: jumping out 37.50
09:35 kenga: all out
09:36 kenga: opening range bar
09:40 kenga: nice call Vo!
09:44 prestwickdrive: 43.25 2 bar 1 min missed by 2 ticks so far
09:45 kenga: coudlnt get past GBX hi
09:46 Robin: 8:57: the futures are trading slightly to the upside in pre-open, currently suggesting an SPX CASH open in the area of
the 942 level, plus or minus. today's session has first resistance at the 947-950 range, support at the 933 daily projected
support low, plus or minus 2 points. daily chart has each of the 10, 20 and 45-day cycles pointing upward, with the
earliest the 45-day should peak being 6/5/09. however, the smaller 10 and 20 day cycles could peak at anytime. today's
session favors selling for the first half of the day, then perhaps strength developing again off of whatever low would form
into later in the period. here is the hourly cycle/channel chart updated to yesterday's close:
09:46 Robin: good morning :)
09:46 Robin: Good Morning, overnight markets are drifting mixed SnP has traded down to 934.50 and up to 942.50 at 08:00. The 934 overnight low is in the daily support window and should hold support there today. Yesterday the futures topped at 947.25. The 1.618 extension target was 948.75 for the wave 3 of the pattern. A typical retrace of 23 to 38% of wave 3 targets 933.75 to 925. Using typical wave analysis if the retrace is quick and holds in the 23-38% zone then wave 5 can go as high as 960 to 980. If the retrace uses up a lot of time going sideways like waiting for the .....JOBS... report drama then odds of getting past 950 are not very high. From here we just monitor this retrace and go from there.
We are out for PT/OT 10 to 12, next update at 13:30.
09:50 prestwickdrive: pending home sales in 10 min
09:52 VO: stop 39.75
09:55 VO: offer 44.50 for1
10:00 VO: 1 @ 43.50
10:01 kenga: what is the number?
10:02 VO: flat 48.25
10:09 VO: l 1 @ 47
10:11 VO: should be more up...this should be 4
10:19 prestwickdrive: singles 22.75-27.75 and 29.5-35.5
10:20 prestwickdrive: (re air below)
10:20 TraderX: they said the vix was up because traders were covering their longs puts...
10:21 TraderX: sorry,, covering their longs with puts
10:22 gila: nas is leading the way
10:25 gila: smh down
10:26 VO: stop 42.75
10:29 bruce9432: WSJ...GMs external debt was between Mexico and India at $172 billion
10:41 kenga: tryihg short 46
10:50 kenga: I have a bottom trend line at 935
10:50 kenga: 936
10:50 kenga: area
10:51 kenga: out of my short
10:52 kenga: 44
10:55 VO: flat
11:13 bruce9432: Hey PT, T-J is stuck in the help room, any help?
11:14 PT: ok one second
11:36 koolblue: long one from 940.75
11:39 kenga: 936 on the way maybe
11:40 kenga: we are sitting on opening range
11:49 koolblue: out at b.e. watching
12:04 Robin: 11:35: right now there appears to be a decent shot that the intraday high was a peak for an extended 21-hour up
phase. here is the hourly cycle/channel chart updated to current time:
12:08 koolblue: i'll be selling 944.25-50
12:09 koolblue: if it can get there!
12:14 kenga: me
12:16 Robin:
12:26 koolblue: back in about 15 min
12:30 bruce9432: there's the 80% rule fullfilled
12:33 prestwickdrive: fwiw, that's an 80% rule double for the day. topping 45.5 after the 36.75 low after the open was the 1st fulfillment
12:54 prestwickdrive: 4 and 52 week treasury auctions in 5 minutes
12:58 prestwickdrive: KB - check out CAH today
13:14 koolblue: buying
13:15 koolblue: long from 941.25
13:25 kenga: this is a sleeping giant
13:28 koolblue: covered one at 943.25...plus 2 and holding the otherwith stop at 940.50
13:30 koolblue: just covered the other also
13:30 koolblue: now up 4 on the day...watching
13:50 koolblue: short from 945.25
13:52 koolblue: covering one at 944.25...i hope!
13:54 koolblue: covered one at 944.25...plus one and up 5 on the day
13:56 koolblue: out the other half at 943.75..plus 1.75 there..up 6.75 now and watching
14:09 kenga: johnny cash
14:19 prestwickdrive: smalls positive for pit session now, bigs -15k
14:37 Margie: thanks Kool, take care
14:38 koolblue: SEE YA TOMORROW GANG!
14:38 gila: bye
14:42 VO: L 1 46.25
14:47 VO: flat
15:09 boardhead: L45.25 but no target, market stagnant
15:27 palmer: no ib extention today?
15:30 VO: whats the BFD with 44.50!!??
15:31 VO: hope this pig dies!
15:31 bruce9432: out of my short
15:31 bruce9432: http://screencast.com/t/Wkt0pFIjg
15:41 VO: thank god we have other markets to trade other than this PIG
15:43 bruce9432: VO it's all petered out from yesterday
15:45 palmer: such BS VO
15:46 palmer: royal BS
15:46 PT: sell this pig VO
15:47 palmer: :)
15:47 palmer: u sold PT
15:47 VO: send this PIG a mail bomb maybe!
15:47 palmer: :)
15:47 PT: me no
15:47 PT: dont like this chop
15:48 PT: I did sell that ledge break , but got stopped out at a loss
15:49 bruce9432: I've just been selling yesterday's high 47.25
15:49 PT: good plan so far bruce
Where is the chatroom?