Tuesday, October 20, 2009

Oct 20 2009

Positive day even though large part of it was inactive. Some longs, some shorts, interesting salmon play on FITB that will resolve tomorrow.

Session Time: Tue Oct 20 00:00:00 2009

[08:30] {Threei} US) SEPT HOUSING STARTS: 590K V 610KE; BUILDING PERMITS: 573K V 595KE
[08:30] {Threei} US) SEPT PRODUCER PRICE INDEX M/M: -0.6% V 0.0%E; PPI EX FOOD&ENERGY M/M: -0.1% V 0.1%E
[08:40] {fernp} Good morning everybody
[08:40] {magoo} morning
[08:41] {Threei} fern, magoo :)
[08:42] {nemo} haroo
[08:43] {Threei} could be
[08:45] {nemo} what a good morning?
[08:45] {Threei} haroo
[08:46] {nemo} oh
[08:46] {nemo} db catcat
[08:46] {nemo} too much coffee
[08:50] {cosmo} gee ...CAT came back...
[08:51] {nemo} the song cosmo?
[08:51] {cosmo} the very next day....yea
[08:51] {nemo} scary...I knew exactly what you were thinking about
[08:51] {Threei} ORBT Receives Contract From Federal Aviation Administration Valued in Excess of $875K
[08:52] {cosmo} yeah ...scary
[08:55] {nemo} thought Cat might break that .40
[08:56] {cosmo} HGSI 22.50 spike high (pre mkt)
[08:57] {Threei} Human Genome Sciences Inc Presenting positive Phase III results for BENLYSTA in lupus at ACR conference
[08:58] {cosmo} Shares Up 4.9% After Earning $75 Million Milestone Paym
[09:02] {magoo} u watching CAT vad?
[09:02] {Threei} among others
[09:06] {nemo} cat gonna" have a little drop here?
[09:07] {Threei} NYX to Provide Transparency for Alternative Trading Systems (29.06, 0.00, 0.00%)
[09:07] {Threei} this is interesting
[09:09] {Threei} - beginning next month, it will provide a means for participating broker-dealers alternative trading systems (ATSs) and off-exchange market centers to create transparency regarding volume and individual dark pool activity by allowing the firms to print trades on the FINRA/NYSE Trade Reporting Facility (TRF) and display the daily activity of each trading venue on NYSE.com.
[09:09] {cosmo} wha?
[09:13] {ese} GM
[09:13] {larisa} good morning :)
[09:14] {strider} morning everybody:)
[09:14] {Threei} ese, larisa :)
[09:14] {Threei} strider :)
[09:14] {strider} 3i:)
[09:16] {lasertrev} gm
[09:16] {ese} strider laris.....
[09:16] {Threei} trev :)
[09:16] {ese} trev
[09:18] {ese} anyone make note of aapl this morning up 12pts......beats the street huge
[09:18] {nemo} Rip Van Ese...sheesh
[09:20] {ese} obviously i missed it........seee thats why i was asking a question....just easing into the conversation
[09:20] {nemo} Ese...you stick your chin out like that, whaddya' expect?
[09:21] {Threei} especially wth nemo around
[09:22] {ese} head between knees now....moping and sulking.....feeling sorry for self....whimpering...will go away now
[09:22] {ese} feeling hurt
[09:23] {ese} nemodoen't like me no more
[09:23] {nemo} Larisa!!!! ese needs sympathy
[09:23] {nemo} I never said that ese
[09:23] {nemo} You know the story of the scorpion and the frog?
[09:24] {ese} ahhhhhhh....what can i say....just being a sap......looking for sympathy.....but it just doesn't work on this board
[09:25] {ese} no what
[09:25] {nemo} Ese...we're all right there cheering you on in those "little bugger" trades
[09:25] {dptl} good morning all
[09:25] {Threei} dp :)
[09:25] {ese} ddddddddpppppppppppp!
[09:25] {dptl} :)
[09:27] {Threei} not having clear candidates for the opening, will sit out first minutes, just like yesterday
[09:29] {ese} how bout athr vad......
[09:29] {ese} or bcrx
[09:29] {gnslng} sveta0909
[09:29] {Threei} candidates to wtch
[09:29] {Threei} just mno clear trades on them yet
[09:30] {magoo} CAT pulling bk
[09:30] {nemo} everything locked up
[09:32] {nemo} $ strengthening
[09:33] {Threei} Long Setup: HIG .60 break if stays above .50
[09:35] {Threei} invalidated
[09:35] {nemo} cat db?
[09:36] {Threei} nah
[09:36] {nemo} hig rude
[09:36] {Threei} why?
[09:36] {nemo} tad insolent...came back to trigger
[09:36] {Threei} invalidated setup, and if you tried it you would be stopped now
[09:37] {magoo} HGSI pulls bk hard
[09:37] {Threei} Long Setup: HIG .50 break if stays above .40
[09:38] {magoo} AIG vad..39 area
[09:38] {Threei} invalidated
[09:38] {magoo} AAPL loses 200
[09:39] {fernp} UAUA 8 break seems interesting
[09:39] {Threei} I wouldn't fern
[09:40] {Threei} nice on daily but intraday is too vertical into resistance
[09:40] {nemo} yeah...long is wrong right now
[09:40] {fernp} ok. ty. just looking at it
[09:41] {cosmo} hmmm
[09:41] {Threei} this is very interesting day guys
[09:41] {nemo} yeah llook at bear flag on spy
[09:41] {ese} dino you there? micc
[09:41] {Threei} if we go red and stay red after all these sparkling earings, we are likely to finally start meaningful reversal
[09:41] {nemo} ese..he's gone for the week
[09:42] {ese} ahhhhhhh fishing?
[09:42] {nemo} golfing
[09:42] {Threei} Short Setup: CAT half lot .30
[09:42] {ese} even better....i have a tee time for friday but not like dino
[09:42] {Threei} if dtays under .50
[09:43] {Threei} not a scalp for me
[09:44] {ese} missed it
[09:44] {Threei} 1:1, covering half
[09:44] {fernp} ty very much
[09:44] {_mreust} Not a bad start!
[09:44] {nemo} ty tanks
[09:44] {Threei} you should see us finishing yesterday...
[09:45] {nemo} aig Vad?
[09:46] {nemo} ehhh..too much volatility at the moment
[09:46] {Threei} .35 stop for CAT balance
[09:46] {strider} out +.20, +08
[09:46] {ese} l sndk .81
[09:46] {Threei} why so high strider??
[09:47] {Threei} was easily available near .10
[09:47] {strider} let it come back up. didn't want to take last partial at a loss.
[09:47] {strider} took first half at .10
[09:47] {Threei} oh, second half you mean
[09:47] {Threei} ok
[09:47] {Threei} out
[09:47] {Threei} scalpers win
[09:48] {strider} 2nd half was on the way back up.
[09:48] {Threei} yeah, got it
[09:49] {Threei} Long Setup: RIMM .10 break half lot
[09:49] {Threei} if stays above .90
[09:49] {magoo} in'
[09:50] {strider} in
[09:51] {ese} out sndk.83 +.02 scratch not enough momentum
[09:51] {ese} or rather time and sales looked to be slowing down
[09:52] {Threei} wow... report that Chamber of Commerce supports carbon tax was a hoax
[09:53] {Threei} US FDIC Staff recommends end of Govt debt guarantee on Oct 31
[09:54] {Threei} hmmm... how does it prop AIG up?
[09:54] {ese} l swks .98
[09:54] {Threei} RIMM almost 1:1
[09:54] {ese} had bstop....just noticed the fill
[09:55] {Threei} half out or scalp... your decision
[09:55] {Threei} I am out
[09:55] {strider} half +.19
[09:55] {fernp} ty again
[09:55] {Threei} those pesky scalprs win too consistently
[09:55] {nemo} aapl fallling
[09:55] {Threei} and I am not all that comfortable with longs rght now
[09:56] {Threei} AIG lost its mind
[09:56] {Threei} well, what went for it anyway
[09:57] {strider} 2nd half @ .16....same story as before....well, 2 for 2. thanks, VAD
[09:57] {Threei} sure thing
[09:57] {nemo} aapl downhill
[09:59] {ese} out swks ..12 +.14
[09:59] {strider} there goes sndk, ese
[09:59] {ese} ya just noticed that strider
[09:59] {magoo} did i miss our exit RIMM?
[09:59] {ese} looks like it did have have enough momo
[09:59] {magoo} occuppied
[10:00] {ese} oh well......wasn't feeling right at the tiem
[10:00] {ese} time
[10:00] {nemo} $ selling off
[10:01] {Threei} near .30 mags
[10:01] {ese} cien taking off
[10:01] {magoo} ty
[10:01] {strider} klac on the move also
[10:02] {strider} c&H rimm, vad?
[10:02] {strider} cup too smll
[10:02] {strider} small
[10:04] {Threei} not comfortable with it strider
[10:06] {fernp} HIG 27.50 break?, too evident Vad?
[10:06] {Threei} just looking at it too
[10:06] {Threei} no
[10:06] {Threei} let's skip it
[10:06] {fernp} agree
[10:06] {Threei} and let's make a little pause and look around
[10:07] {Threei} here is what I see and what makes me hesitant
[10:07] {Threei} we opened the day with two huge earning beats by two bellweathers
[10:07] {Threei} went into red after that
[10:08] {Threei} another ovservation over past few days:
[10:08] {Threei} volume sharply increased on a rare red day last week,
[10:08] {Threei} and diminished again on green days
[10:08] {nemo} was down on yesterday
[10:08] {Threei} you know I am not the one to call trend reversal
[10:08] {Threei} at least not easily
[10:08] {Threei} but this is more and more looking like topping action
[10:09] {Threei} also, you may have noticed somewhat increased number of short calls lately
[10:09] {Threei} (winning ones too)
[10:09] {Threei} and it's not like I made a conscious decision to start calling more shorts,
[10:09] {fernp} I did not realize about volume that red day. good point
[10:09] {Threei} it's just that short setups started presenting themselves more frequently
[10:10] {Threei} All above is pointing to signs of reversal coming
[10:10] {Threei} BUT
[10:10] {Threei} there is always a bit
[10:11] {Threei} we have seen false reversals a few times over the summer
[10:11] {larisa} a bit of but?
[10:11] {Threei} we didn't trust those, I continuously stated that those were just pullbacks,
[10:11] {Threei} right
[10:12] {Threei} and there is a probablility, albeit decreasing, that this one may turn out a fake too
[10:12] {Threei} If it does, I don't want to get caught attempting to short just another bull flag,
[10:13] {Threei} and it does not look to me like bull flag at the moment,
[10:13] {Threei} neither volume configuration nor this going red on good earnings fit profile.
[10:13] {Threei} So, here is what I want to do:
[10:14] {Threei} 1. stop guessing whether it's reversal or pullback
[10:14] {Threei} 2. observe carefully for confirmation of either
[10:14] {Threei} 3. take setups on stock by stock and minute by minute basis
[10:15] {Threei} 4. stay nimble and limit expectations to scalps unless I feel otherwise strongly enough to call it "not a scalp"
[10:15] {Threei} 5. even in thiose cases partial out at 1:1 and trail stop to b/e religiously, just as we did with CAT
[10:16] {Threei} done blabbing
[10:16] {nemo} that shouldn't last long
[10:16] {Threei} what?
[10:16] {strider} sounds good to me.
[10:16] {nemo} done blabbing
[10:16] {Threei} ah
[10:16] {nemo} sorry...it was right there
06[10:17] * Threei slaps nemo around a bit with a large heavy object of unknownm origin
[10:17] {Threei} this was too
[10:17] {nemo} mmmmhhh...pine cone hit me off the head...anyway indexes about to test lows
[10:18] {Threei} oh, and another thing
[10:18] {strider} klac in funky H&S
[10:18] {nemo} see
[10:18] {Threei} 6. look into increase of range trades
[10:18] {Threei} instead of range breaks
[10:18] {Threei} to illustrate:
[10:18] {Threei} look at HIG
[10:18] {nemo} aig holding strong
[10:18] {Threei} .50 break wouldn't have worked
[10:19] {fernp} was looking at it
[10:19] {Threei} but scalps between .40 and .55 would
[10:19] {nemo} $ stronger
[10:20] {Raven} {--------- approves of 3i's comments
[10:20] {Threei} thank you
[10:20] {Raven} yw
[10:20] {Threei} can I gop home?
[10:20] {nemo} wow...he came down from on high
06[10:20] * Raven slaps nemo around a bit with a large trout
[10:21] {nemo} I feel blessed
[10:21] {fernp} lol
[10:21] {Raven} {---- and on that note I will take a hike
[10:21] {magoo} q erver vad?
[10:21] {Raven} be careful
[10:21] {nemo} you got wings don't you
[10:21] {Threei} 11
[10:21] {magoo} ty
[10:21] {Raven} legs need exercise
[10:21] {Raven} cya
[10:22] {nemo} have a nice day Raven
[10:22] {Threei} take care R
[10:23] {Threei} CAT
[10:23] {Threei} this bounce into 60 should be shortable
[10:23] {nemo} yeah, and aig
[10:23] {magoo} respectfully..i like it long for a bounce
[10:24] {Threei} it bounced already
[10:24] {magoo} more
[10:24] {nemo} it would have to break .10
[10:24] {Threei} to me it's just a question of where the bounce tops so we could short it
[10:24] {magoo} .40 area
[10:24] {magoo} imo
[10:27] {nemo} not sure the market has shown it's hand for the day
[10:30] {nemo} RIMM short?
[10:32] {ese} strider check out sndk now......man there seemed like something phony going on earlier
[10:32] {strider} vedy interestin
[10:33] {nemo} but...
[10:33] {Threei} OK
[10:33] {Threei} Short Setup: CAT right here with stop above .15 half lot
[10:33] {Threei} in
[10:34] {strider} in
[10:36] {Threei} no go
[10:36] {fernp} out
[10:36] {strider} out
[10:36] {strider} futs spiked
[10:36] {fernp} yeah
[10:42] {nemo} cat actually weathered that downturn
[10:42] {nemo} as did rimm
[10:43] {ese} de market boss.....de market....shes saaaa slowly creeeepin daoun dare boss....
[10:43] {nemo} meds ese
[10:43] {magoo} huh?
[10:44] {nemo} he's doing his Gungin impression
[10:44] {ese} oppss slowly creepin up dare boss up dare
[10:44] {ese} l swks .05
[10:46] {ese} took some ginko yesterday.....for the memory......I think
[10:46] {Threei} Short Setup: RIMM .75 half lot
[10:47] {Threei} if stays below .90
[10:49] {ese} out swks .13/.14 approx +.09
[10:49] {nemo} big buy on .80 rimm
[10:49] {ese} 5k of the little buggars
[10:49] {Threei} yeah, let's modify trigger to .80 break
[10:49] {nemo} $ strengthening
[10:50] {Threei} good
[10:50] {nemo} AIG short?
[10:50] {Threei} not a scalp is triggers
[10:51] {Threei} no read on AIG
[10:53] {Threei} how about that?
[10:53] {nemo} how about what?
[10:53] {Threei} sigh... never mind
[10:54] {nemo} frick
[10:54] {Threei} RIMM invalidated
[10:55] {ese} vad.....auch......I have forsaken thee again..........i should have sold 1/2 and let the other 1/2 ride in swks......can ye ever forgive me
[10:55] {Threei} no... never
[10:55] {nemo} If you'd kept your mouth shut ese...sheesh
[10:56] {Threei} in fact, I fully intend to blackmail you to our with dp's benefit... only box of vodka will save you
[10:56] {ese} i have failed you again........auch du miya
[10:57] {ese} i know nemo.....iknow........just ........auch
[10:57] {nemo} catholic?
[10:57] {ese} naw....sorcerer faith
[10:58] {nemo} cool
[10:58] {ese} more exciting......kids have gotten me into it with Harry Potter
[10:58] {ese} have a wand......can't seem to make it work though........works on a set of drums however
[10:59] {ese} ahhhhhhh it's a drumstick.....i knew there was something familiar about it
[10:59] {nemo} the wand is only a talisman to conduct your intention
[11:00] {ese} ha ha ....ha ha...good one
[11:02] {nemo} Right now though this looks like a consolidation day
[11:02] {nemo} ese dcc
[11:03] {ese} FITB is looking interesting for the first time in a long while
[11:03] {strider} dndn?
[11:04] {Threei} AONE
[11:04] {Threei} A123Systems CEO: in "late stage" negotiations with DOE on loans for development of lithium-ion batteries
[11:04] {Threei} - first US plant for battery cells will open in mid-2010 in Michigan.
[11:04] {Threei} don't see much interesting on DNDN
[11:08] {Raven} a new industry in Michigan ? ... unbelievable
[11:09] {Threei} rather support on existing autoindustry
[11:09] {Raven} auto industry barely existing
[11:09] {Threei} lol... good point
[11:09] {Raven} sheesh
[11:09] {Raven} whatta dumb state
[11:10] {strider} states can be dumb?
[11:10] {nemo} see any deer on your walk Raven?
[11:10] {Raven} state government
[11:11] {strider} of course
[11:11] {Raven} no deer today ... no wild turkeys either
[11:12] {strider} Got a coyote passing through here once in awhile. western NC
[11:12] {Threei} RIMM, watching if reestablishes itself
[11:12] {Raven} yup ... we have them here also in the neighborhood
[11:12] {Raven} SW Michigan
[11:12] {nemo} we have coyotes up the wazoo
[11:13] {strider} need one more?
[11:13] {gnslng} strider where abouts are you? i am also in WNC
[11:13] {strider} Hickory
[11:13] {Raven} where nemo?
[11:13] {gnslng} i see, i am in waynesville / maggie valley
[11:14] {strider} ah yes. Get up there every once in awhile.
[11:14] {strider} motorcycling
[11:14] {nemo} Massachusetts
[11:14] {nemo} eastern south of Boston
[11:14] {Raven} where in Mas
[11:14] {Raven} +s
[11:15] {Raven} rural Mass?
[11:15] {nemo} suburban
[11:15] {nemo} you know Mass?
[11:15] {Raven} somewhat ... both parents from there
[11:15] {nemo} what town/city?
[11:16] {Raven} Holyoke and Charlton
[11:16] {nemo} that's rural...I'm inside the 495 belt
[11:16] {Raven} I see ... and you have lots of coyotes ? I am surprised
[11:16] {ese} thinking long swks again
[11:17] {nemo} oh yeah...couple of years ago in Brighton..part of Boston...big stink over a ladies lapdog-turned-brunch by a coyote
[11:17] {nemo} lady's
[11:17] {Raven} sheesh
[11:18] {strider} I've got 3 cats to worry about=coyotes...try to keep them in at night.
[11:18] {Raven} cats should always stay in
[11:19] {nemo} I always get a kick out of seeing the missing pet signs on the telephone poles...they are always small animals
[11:19] {strider} my cats would be miserable inside.......and so would I.
[11:20] {strider} risk= reward, no?
[11:20] {Raven} lol ... if you keep them in since birth they know no other way
[11:20] {nemo} The Matrix
[11:20] {ese} that happens periodically with cougars and dogs going missing in North Vancouver......half the city is up the side of a mountain
[11:20] {strider} neither would you or I :)
[11:20] {nemo} absolutely
[11:21] {strider} Two of my cats were born wild........
[11:21] {Raven} that makes it hard then
[11:21] {Raven} my two were bottle fed by people
[11:22] {Raven} they are almost people
[11:22] {strider} aw jeez....
[11:22] {Raven} yes
[11:22] {Raven} a mouse would never touch their lips
[11:22] {Threei} FITB really looks more and more interesting
[11:23] {strider} I'm glad somebody's working here..
[11:23] {Raven} lol
[11:23] {nemo} AIG break of .80?
[11:23] {Threei} rathjer yes than no but like 52/48
[11:25] {ese} dabbling swks L .03 stop .94
[11:26] {ese} dabbling is 1k for me by the way
[11:27] {strider} cat
[11:28] {Threei} (US) Senator Bunning (R-KY): Consumer financial watchdog agency bill will not pass the Senate Banking Committee (related XLF )
[11:28] {ese} sorry don't have cats.....allergic
[11:29] {Raven} so am I ... there is a drug that fixes that
[11:29] {strider} cats are allergic to you?
[11:29] {ese} probably
[11:29] {Threei} AIG readies itself it seems
[11:29] {magoo} in
[11:31] {larisa} no go through pivot
[11:31] {ese} wow mags......
[11:32] {strider} nobody listened to me....cat.........not even me.
[11:32] {Threei} where is its pivot?
[11:32] {larisa} 41.83
[11:32] {Threei} ty
[11:32] {Threei} Energy Sec Chu: Oil around $80/bbl "makes me nervious" (related USO )
[11:32] {ese} i did strider....said i didn't have any
[11:33] {strider} CAT :)
[11:33] {ese} alright.....joke is old already
[11:33] {Threei} Obama administration wants stable oil prices (related USO )
[11:33] {Threei} lol
[11:33] {strider} cat-on-pillow
[11:34] {Raven} you lookin' in my window?
[11:34] {strider} would I do that?
[11:34] {Raven} yes
[11:34] {strider} well, then , yes
[11:35] {Raven} {----------- circling
[11:35] {Threei}
[11:35] {Threei} RIMM
[11:35] {Threei} reestablished
[11:36] {ese} i like how swks holds it's own when qqqq's decline.....
[11:36] {Threei} FITB too
[11:37] {ese} opps spoke too soon
[11:38] {ese} fitb hanging in there though
[11:39] {ese} bloowdy eeel.....stoped
[11:40] {ese} just touched .94 and fill me.....^%%$#^%%.........*(&^&^%$%.........&*^%^#
[11:40] {nemo} $ going north
[11:40] {fernp} ZION valid dbi, Vad?
[11:41] {ese} why i otta!!!!!!
[11:41] {Threei} I think so iff helped by market
[11:41] {fernp} ok
[11:44] {strider} hgsi in dbi formation
[11:44] {Threei} RIMM 1:1 if you went for it
[11:46] {ese} fitb looking really good vad
[11:46] {Threei} I am more and more intrigued
[11:46] {ese} moi aussi
[11:48] {larisa} FITB reports oct 22
[11:49] {ese} good to know....will go up probably til then then tank
[11:50] {Threei} unless it beats big - then it will gap up and only then tank :)
[11:50] {Threei} salmon...
[11:50] {Threei} who is ready to try it
[11:51] {Threei} .58 break, .45 support
[11:51] {ese} moi
[11:51] {Threei} aggressive entries are preferable
[11:52] {ese} l fitb .55
[11:52] {fernp} me too
[11:54] {nemo} market has slowed to a crawl
[12:00] {ese} something calming about being in fitb
[12:00] {Threei} rofl
[12:00] {strider} gives me the nervous jerks...and I'm not even in
[12:02] {strider} average range about 37 cents
[12:03] {fernp} ZION no go. stopped
[12:05] {nemo} hig short .60?
[12:05] {Threei} brweak of it rather
[12:05] {nemo} although, looks like the indexes want up a bit
[12:05] {nemo} yes break
[12:05] {Threei} if stays under .70
[12:06] {Threei} or .65 for hardcore scalpers
[12:06] {ese} ba humbug ....it's lunch hour ....now i'm going to have to wait for the payoff in fitb
[12:10] {Threei} Market Internals update at 12:00pmET
[12:10] {Threei} - NYSE volume 510M shares, about 5% above its three-month average; decliners lead advancers by 4.7:1.
[12:10] {Threei} - NASDAQ volume 945M shares, about 7% below its three-month average; decliners lead advancers by 3.1:1.
[12:10] {Threei} - VIX index +0.05% to just over 21.50
[12:17] {fernp} I liked HIG 60 breakdown setup, But it did exactly the opposite of what I thought
[12:17] {fernp} difficult to read market these days
[12:17] {nemo} yeah...market decided to move up
[12:17] {ese} L fitb avg .54
[12:23] {strider} Vad, what period do you use for RSI on 1 min chart?
[12:23] {Threei} I don't use RSI
[12:23] {Threei} that takes care of the problem
[12:24] {strider} Hey. You sold me all these Boooooooogus DVDs showing you use RSI!
[12:24] {Threei} uhhu
[12:24] {Threei} you are being deceived
[12:24] {strider} I knew it.
[12:24] {Threei} badly
[12:24] {Threei} my purpose in life is to promote RSI while I don't use it myself
[12:24] {strider} Some guy with a bad russian accent is using it.
[12:25] {nemo} he's running for office next year
[12:25] {ese} rotfl
[12:26] {Threei} on the othjer hand, if you are interested in BBs, that setting may be of interest to you since I use non-standard one for intraday
[12:26] {strider} I should have been suspicious when you picked RSI over volume on the 1 min chart.
[12:26] {nemo} 13 period 1.7 standard deviations
[12:27] {strider} not 1.69?
[12:27] {nemo} funny...you have to turn around on that setting
[12:29] {fernp} Vad uses RSI 10 on those videos. There's a video explaining configuration
[12:30] {Threei} right
[12:30] {Threei} and I forgot exact settings
[12:30] {fernp} lol
[12:30] {Threei} and abandoned RSI since then
[12:31] {strider} that one must be extra.......the configuration video.
[12:31] {Threei} not that there isd anything wrong with it
[12:31] {nemo} hgsi short?
[12:31] {Threei} but I tend to simplify things
[12:31] {strider} the ac/dc oscillator
[12:31] {nemo} Seinfeld oscillator
[12:31] {strider} yes
[12:32] {Threei} no read HGSI
[12:32] {nemo} yeah, it went short
[12:35] {strider} RIMM also?
[12:35] {Threei} ewverytyhing looks short
[12:36] {Threei} problem is, it doesn't follow through generally
[12:36] {nemo} indexes are pretty flat
[12:36] {Threei} market is not dropping like crazy, it's just slowly rolling over, and today is one of first days of such rollover
[12:37] {Threei} can't expect shorts to start working flawlessly right away
[12:37] {Threei} it's like nww OS by MSFT... gotta work out kinks first
[12:37] {strider} would you say shorts are in a bind?
[12:38] {nemo} look at gap on 15 minute chart rimm
[12:38] {nemo} support right here
[12:38] {Threei} I don't know what it means
[12:39] {nemo} o.k. well, if it rises to .40 and stalls, we looking at a short setup
[12:39] {nemo} ?
[12:40] {Threei} .50 rather
[12:42] {strider} L.fitb@.48
[12:47] {Threei} now RIMM is better candidate for short if market resumes downward
[12:48] {ese} nice entry strider
[12:48] {strider} hope so
[12:51] {Threei} lol, you have 1:1 here stirder
[12:52] {strider} :)
[12:52] {ese} your fine......
[12:52] {Threei} beauty of aggressive entries
[12:53] {nemo} this is looking more like a market turn
[12:53] {Threei} lol... Halloween costume: suit and tie with mask of Bernie Madoff, calls "Whack a Ponzie"
[12:53] {strider} DIA already has a nice dbl bottom.
[12:55] {larisa} 5 seconds trade on STT :) laser is good
[12:56] {Threei} wait... Laser did?? or you did?
[12:56] {Threei} 'cause if Laser, I want that feature
[12:56] {larisa} lol
06[12:56] * Threei is looking around for "5 seconds winning trade" button
[12:57] {strider} I think you can either pick the button or the RSI feature. You got RSI.
[12:57] {lasertrev} that costs extra
[12:57] {Threei} sigh
[12:58] {Threei} how about "refuse to execute losing trades" button?
[12:58] {lasertrev} lol
[12:59] {ese} rotfl
[13:05] {Threei} AXL Hearing vague chatter of a possible large contract with Ford
[13:06] {Threei} looks like downside is done for now
[13:06] {Threei} and quite possibly for the day
[13:06] {Threei} but I seriously hope to see red close
[13:06] {larisa} -130 finish :)
[13:07] {Threei} I hope so
[13:08] {Threei} but my bet will be -50
[13:08] {larisa} I want AAPl to roll over. holding so far
[13:08] {larisa} too safe bet.. boring
[13:08] {Threei} I am boring
[13:09] {larisa} agree with me or say +130
[13:09] {Threei} if you see a crowd yawning and snorring, you can bet I am in the middle, trying to entertain them
[13:10] {Threei} Alan Greenspan told me I was too boring for him
[13:10] {Threei} if you watched him speaking just once, that should tell you something
[13:10] {larisa} lol
[13:12] {ese} ya know....dino would have loved micc
[13:12] {ese} I should have traded it in his honor
[13:12] {larisa} I traded STT in his honor :)
[13:13] {larisa} so you do not have to
[13:13] {Threei} I feel ashamed... I haven't done anything in his honor
[13:13] {ese} but alas no....L swks .95
[13:13] {nemo} tell a corny joke
[13:13] {Threei} nah, I can't even hope to beat that very large moth one
[13:16] {strider} Don't you just love it when your damn cable company decides to work on the lines in the middle of the day...and just cuts you off?
[13:17] {strider} Have a DSL backup....
[13:19] {strider} Is it possible FITB was just toying with our affections?
[13:19] {Threei} we have any?
[13:20] {strider} infections?
[13:20] {Threei} same question...
[13:20] {strider} one leads to the other.
[13:21] {nemo} good one
[13:21] {Threei} lol... reminded me my dialog with pro photographer
[13:22] {Threei} I told him about difficulty I had with one partuclar focusing situation
[13:22] {Threei} continuous focus on moving target where camera was supposed to track subject once locked focus on it
[13:22] {Threei} his advice was:
[13:22] {Threei} try STD
[13:23] {Threei} me: say what?
[13:23] {Threei} turned out there is aconfiguration called Single Target Dynamic
[13:24] {Threei} RIMM{ bounce cadidate
[13:24] {Threei} Long Setup: RIMM .60 break if holding .50
[13:26] {Threei} (US) Dark Pool Trading Limit to be cut 95% in SEC Proposal
[13:26] {Threei} - Note: Dark Pool orders are issued programatically by computers and grey/black box programmers, shown on an ECN for 30ms or less and as a result are inside the window for dissemination to the broad tape and ECN's. Program traders use this to hunt for depth or to feel out how to trade a stock without showing their hand to the public at large or even other professionals that watch the tape. Dark pools are off exchange platforms run by the likes of Goldman Sachs and Getco LLC.
[13:31] {strider} in RIMM .61
[13:35] {strider} out .49
[13:35] {Threei} didn't it lose .50 before breakming .60?
[13:36] {strider} if it did, I missed it.
[13:36] {Threei} 13:28
[13:37] {strider} yeah .I see it now. my bad.
[13:37] {larisa} by 1 cent
[13:37] {Threei} yes, not much but after that it spiked into resistance
[13:37] {Threei} to reestablish, stock needs to consolidate again
[13:42] {nemo} cat s beak of .45 ...shoot
[13:43] {larisa} is it english?
[13:43] {nemo} cat s (short) break of .45 sorry
[13:43] {larisa} ok :)
[13:44] {dptl} have a good evening all
[13:44] {Threei} take care dp
[13:47] {nemo} volume a little better today
[13:50] {Threei} some pick up finally
[13:53] {Threei} Long Setup: AIG .40 break
[13:54] {Threei} if stays above .30
[14:00] {Threei} Market Internals update at 2:00pmET
[14:00] {Threei} - NYSE volume 735M shares, about 7% above its three-month average; decliners lead advancers by 5.2:1.
[14:00] {Threei} - NASDAQ volume 1.37B shares, about 6% below its three-month average; decliners lead advancers by 3.1:1.
[14:00] {Threei} - VIX index -0.33% to just under 21.50
[14:04] {ese} hey all....have to go and teach choir.....am still in fitb and swks....will hold till end of day...cya tomorrow
[14:04] {Threei} take care ese
[14:04] {Threei} teach them well
[14:04] {ese} see ya vad
[14:04] {Threei} or good
[14:04] {Threei} or not
[14:06] {strider} Vad, does a 3 hour consolidation like FITB carry a greater risk of collapse/rinse, whatever?
[14:06] {Threei} sometimes yes
[14:07] {Threei} if it happened with borader intial range I'd be tightening stop just in case
[14:07] {Threei} but range is very tight as it is
[14:07] {Threei} so I just let it do its thing
[14:08] {fernp} are you in FITB, Vad?
[14:08] {Threei} yeag
[14:08] {Threei} UAUA CEO Glenn Tilton: seeing signs of encouragement in revenue trends - conf call comments (8.88, +0.02, 0.23%) (related JBLU AMR ALK LUV DAL )
[14:08] {fernp} me too, from .52
[14:09] {fernp} stop is under .45, no?
[14:09] {Threei} yup
06[14:14] * Threei thinks of starting kicking things in the rear, then changes his mind and falls asleep
[14:14] {nemo} how'd he type?
06[14:14] * Threei possesses ability to type in his sleep - how do you think he runs this room for years?
[14:15] {Threei} AIG reestablished
[14:15] {nemo} thought that was the good twin?
[14:15] {Threei} used to be
[14:15] {Threei} then bad one strangled him
[14:15] {nemo} damn broke
[14:15] {Threei} over 1:1
[14:16] {nemo} too fast
[14:16] {Threei} anyone got it?
[14:16] {strider} Hey Vad, calling them after they've left the station doesn't count. :)
[14:16] {Threei} anyone got it?hmmm?
[14:16] {Threei} that wasn't after
[14:17] {nemo} technically correct
[14:17] {strider} Or when I'm in the bathroom....
[14:17] {Threei} that was right when it touched .40 and downticked two cents
[14:17] {strider} offering 1/2 FITB @ .55
[14:18] {Threei} fern... do we hate him?
[14:18] {Threei} with his entry, it's like 1:3 here for him, lol
[14:18] {fernp} lol
[14:18] {strider} If it's a good offer, you should take it:)
[14:18] {Threei} ok... one thing I can promise you
[14:19] {strider} it'll go to .80
[14:19] {Threei} if we manage to sell it at 10.90, you won't hear the end of it for weeks {G}
[14:19] {strider} i know...i know
[14:19] {strider} ka-ching
[14:21] {fernp} i am thinkin to hold some shares overnight
[14:21] {strider} you'd think that a stock in such great demand would bring a higher price.
[14:21] {Threei} you gambler you
[14:21] {fernp} glamber and pesky :)
[14:21] {Threei} let's decide near close, depending on how it acts'
[14:21] {Threei} pesky gambler... sheesh
[14:21] {fernp} yes
[14:21] {Threei} what a combination
[14:34] {strider} come on FITB. Make me look stoopid.
[14:35] {Threei} new high
[14:35] {Threei} salmon is as salmon does
[14:35] {strider} do you smoke it? new high.
06[14:35] * nemo slaps nemo around a bit with a large idiot stick
[14:36] {Threei} you don't smoke salmon, you have camel for that
[14:36] {strider} camels smoke salmon?
[14:36] {nemo} sure you smoke salmon
[14:37] {Threei} you do?
[14:37] {Threei} thigs I learn here...
[14:37] {nemo} Haven't you ever had smoked salmon?
[14:37] {strider} if the fraternities had a special day for them...would that be salmon rush-day?
[14:37] {nemo} oh jeez
[14:38] {Threei} I had it, I just never smoked it
[14:38] {nemo} let's see....me...magoo (where is he)...now strider
[14:38] {nemo} smoked salmon on bagels with cream cheese...never had it?
[14:38] {nemo} it's a tribe delicacy
[14:44] {Threei} (US) Fed's Warsh: question remains if banks can continue to raise capital as they have been able to recently (related XLF )
[14:45] {Threei} why do they need to raise capital endlessly?
[14:45] {nemo} black hole of defaults...Commercial Real Estate coming up
[14:46] {nemo} Q's almost positive
[14:46] {nemo} green
[14:47] {strider} CAT nice consolidation
[14:59] {Threei} IMF's Lipsky: Asia should emerge from crisis stronger than other world regions; healing has begun in world economy but considerable challenges remain (related EUR/USD USD/CNY FXI )
[14:59] {nemo} Everybody has the same press agent...sheesh
[15:01] {strider} moving FITB stop to .50
[15:10] {Threei} IAEA Elbaradei: Still hopes to reach agreement in Iran talks, making progress but slower than expected
[15:15] {strider} Vad , is there a setup that would give you a short play on FITB?
[15:15] {Threei} I guess...
[15:15] {Threei} hard to answer hypotetical
[15:15] {Threei} I'd need to see it forming, see interaction with market
[15:17] {strider} No strider's famous 'looks like it's going down' setup?
[15:17] {strider} not
[15:18] {strider} a break of .47 here would be break of support.
[15:18] {strider} .46
[15:19] {Threei} every time it dipped so far, it jumped back up with vengeance
[15:19] {Threei} too big risk to run into false breakdown
[15:19] {Threei} take a look at 1 min,
[15:19] {Threei} see those sharp green spikes?
[15:19] {strider} yeah
[15:32] {Threei} Market Internals update at 3:30pmET
[15:32] {Threei} - NYSE volume 945M shares, about 7% above its three-month average; decliners lead advancers by 4.4:1.
[15:32] {Threei} - NASDAQ volume 1.76B shares, about 6% below its three-month average; decliners lead advancers by 2.9:1.
[15:32] {Threei} - VIX index -1.25% to just over 21.00
[15:37] {Threei} wow
[15:37] {Threei} AIG
[15:37] {nemo} yeah
[15:37] {nemo} what the hell was that
[15:37] {Threei} thougth about calling 40 break and decided against it
[15:39] {larisa} why?
[15:40] {Threei} 'cause I am stupid?
[15:40] {strider} Great. Now he tells us.
[15:41] {nemo} not sure that's good pr
[15:42] {Threei} no?
[15:42] {Threei} I always knew marketing wasn't my strong side
[15:42] {Threei} so, stupid AND bad marketer? jeez
[15:43] {Threei} and I intend to leave it in the trading log untouched. Let's see how many new subscribers it brings
[15:43] {Threei} FITB new high
[15:43] {nemo} Well, at least we did have to hear you ask, "Can I go home?"
[15:43] {strider} Curses. Foiled again.
[15:43] {Threei} oh, not too good loking either
[15:44] {Threei} gimme a few, I'll try to think of what I am good at
[15:44] {nemo} shishkebab
[15:44] {Threei} yesss
[15:44] {Threei} thank you
[15:44] {Threei} and I have wintnesses right in this room
[15:44] {Threei} 3
[15:44] {nemo} slaughtering your typing
[15:45] {nemo} excessive alcohol consumption
[15:45] {Threei} FITB over 1:1
[15:45] {nemo} photography
[15:46] {fernp} sold half
[15:46] {larisa} nemo is trying harder than vad :)
[15:46] {Threei} he just has better memory
[15:46] {Threei} I am trying hard
[15:46] {Threei} it just doesn't work
[15:47] {Threei} ese will be happy about FITB
[15:47] {larisa} market is officially as boring as vad and greenspan.
[15:47] {Threei} this is offensive
[15:47] {Threei} I am sure I am more boring
[15:48] {Threei} you larisa are just anrgy that my -50 call is right on money... so you are trying to pick on me
[15:49] {larisa} yes, very dissapointing
[15:49] {Threei} sorry
[15:49] {nemo} cat...tease this close to close
[15:51] {gnslng} out +.13 , ty finally
[15:52] {Threei} :)
[15:55] {Threei} (US) Fed's Yellen: Tightening will happen "when the time comes," Fed has plenty of tools for tightening but does not expect them to be used in the next several months
[15:55] {Threei} - It is to be expected that interest rate differentials will drive capital flows
[15:55] {Threei} - Fed feels completely comfortable that it will be able to exit from loose policy when the time comes.
[15:55] {Threei} - Does not believe that asset bubbles emerging in Asia will be a problem.
[15:56] {Threei} (US) Rep Van Hollen (D-MD): Believes public option is likely to pass in some form in House healthcare reform bill
[15:56] {Threei} - Major unresolved issues remain in House healthcare overhaul, including abortion, public option.
[15:56] {Threei} - Expects Congress to have a unified bill on President Obama's desk by year's end.
[15:58] {Threei} -52
[16:00] {Threei} -50
[16:00] {Threei} yesss
[16:00] {Threei} larisa... hw anout that
[16:00] {Threei} how about
[16:00] {larisa} see you later :)
[16:00] {Threei} :)
[16:00] {nemo} thanks for the warning
[16:00] {Threei} thank you all
[16:01] {Threei} have a good evening
[16:01] {Threei} see you tomorrow
[16:01] {fernp} holding 500 for tomorrow. let's see
[16:01] {fernp} Good evening everybody
[16:01] {Threei} me too fern
[16:01] {fernp} :)