Wednesday, October 28, 2009

Oct 28 2009

Fair day with a few nice plays on both short and long sides - notably CAT short and AIG long, and a few scalps and stops here and there. Gearing up for a bounce that seems to be in cards - most likely tomorrow.

Session Time: Wed Oct 28 00:00:00 2009

[08:43] {ese} good morning......
[08:44] {nemo} dude
[08:44] {KSystems} Les!
[08:44] {KSystems} welcome
[08:45] {nemo} Gruss Gott Herrn K
[08:45] {ese} dude
[08:45] {_Les__} KSystems welcomes me...
[08:45] {ese} ksys
[08:45] {_Les__} I feel better already...
[08:45] {ese} les
[08:45] {KSystems} nemo :) ese!
[08:45] {Threei} ks... you need to stop it
06[08:45] * nemo slaps _Les__ around a bit with a large trout
[08:45] {_Les__} why don't i get a smiley like that
[08:46] {Threei} people will think we are warm and welcoming bunch
[08:46] {_Les__} and what's with the slapping
[08:46] {nemo} total crock
[08:46] {KSystems} but not for long, vad
[08:46] {ese} thats the official welcome
[08:46] {_Les__} hold it. KSystems is a person or a machine?
[08:46] {nemo} worse...
[08:46] {KSystems} -beep-
[08:46] {nemo} he's a German
[08:47] {Threei} which means he is both
[08:47] {nemo} actually...good point Vad
06[08:47] * KSystems slaps nemo around a bit with a large German flag
[08:47] {ese} i'm german as well
[08:47] {nemo} well, I'm Irish, Italian...what's your point ese?
[08:47] {_Les__} ahh. Guten Tag!
[08:47] {KSystems} Grezi
[08:48] {Threei} KS's motrning song:
[08:48] {Threei}
[08:48] {nemo} Breakin
[08:48] {ese} ahhhhhhh hmmmmmmm ain't got one
[08:48] {KSystems} oh yeah
[08:48] {nemo} I was listening to Kraftwerk back in the 70's...scary
[08:48] {_Les__} I'm here for a "free" time, not a good time...
[08:48] {_Les__} Vad's free week...
[08:49] {Threei} meaning I am free for a week??
[08:49] {Threei} yessss
[08:49] {_Les__} I wanted to begin 9th Nov but computer program says start today
[08:49] {nemo} fun fun fun on the autobahn
[08:49] {_Les__} stupid machines
[08:49] {nemo} You want to go home Vad?
[08:49] {_Les__} I still listen to Kraftwerk
[08:50] {Threei} my high school music
[08:50] {nemo} in der Schweiz?
[08:51] {_Les__} oui, mais dans le partie Francais
[08:52] {ese} vad anything worth revisiting...vvus name a couple
[08:52] {ese} ucy ?
[08:52] {ese} bucy?
[08:53] {nemo} amzn recovered yesterday's close, things get weak could be a good short
[08:53] {ese} i missed that short many distractions around my house
[08:53] {Threei} nothing fresh ese
[08:53] {ese} tks
[08:53] {lasertrev} gm
[08:54] {Threei} trev :)
[08:54] {nemo} LT :)
[08:54] {KSystems} which part les?
[08:54] {KSystems} Valais?
[08:54] {Threei} VVUS sems to simply float with market
[08:54] {ese} trev....
[08:54] {_Les__} Vaud, behind Montreux
[08:54] {ese} morning
[08:54] {Threei} BCRX too
[08:54] {KSystems} Oh i see
[08:54] {KSystems} i used to stop at Montreux on my way to Valais several winters
[08:55] {KSystems} how far is it to montreux from your place?
[08:55] {_Les__} You'll be back. Soon no snow anywhere in Europe but Valais :)
[08:55] {nemo} ...on the Lake Geneva shoreline...
[08:55] {ese} oh my goodness.....i played the Montreux festival in 1978 and 1981
[08:55] {ese} yes in deed it is
[08:56] {ese} one of the most beautiful places in the world in my books
[08:56] {Threei} 78?
[08:56] {Threei} wow
[08:56] {ese} yup......
[08:56] {Threei} you were what, just out of high school?
[08:57] {KSystems} nemo
[08:57] {ese} 20 or 21
[08:57] {nemo} ja wohl
[08:57] {KSystems} isnt it "Fahrn" auf der Autobahn?
[08:57] {nemo} Ich errinere mich nicht an
[08:57] {ese} 19 ?? hmmmmm
[08:59] {nemo} Could be K, the album was translated into English, plus I didn't know German then, so you hear what you think you hear. Same with 99 Luft Baloons when it came to the states. I heard it in Germany first. By the time I get to the states it's 99 Red Baloons.
[08:59] {ese} 4 years out of high school 2 years into university
[09:00] {nemo} How old were you when you graduated high school ese?
[09:00] {_Les__} Jazz festival is great, even with kids. Beer and live music in the park on warm sunny afternoon. *Sigh*, ready for summer again already.
[09:01] {ese} they do it in the Miles Davis Center now and not the casino right?
[09:02] {ese} when we played it was int the casino downtown Montreux
[09:02] {Threei} last few photos before I switch to autumn series:
[09:02] {Threei}
[09:04] {ese} did you just go to the end of the pier vad or were you out on a boat
[09:04] {Threei} no, pier
[09:06] {_Les__} appreciate last photo. Clean warm light on the pier - doesn't overwhelm photo
[09:06] {_Les__} not that other photos are overwhelmed by light :)
[09:06] {Threei} ty
[09:07] {Threei} I find the only really overwhelming subject to be that octopus
[09:07] {Threei} something out of sci fi movie, lol
[09:07] {nemo} Jules Verne....:)
[09:07] {ese} we live in a nice part of the world vad.......
[09:07] {Threei} we sure do
[09:07] {Threei} which doesn't prevent us from complaining and whining
[09:08] {ese} hmmmmmm
[09:08] {_Les__} didn't see the rest. Only night photos. ok nice occy
[09:08] {Threei} just scroll down
[09:08] {Threei} wow
[09:08] {Threei} what happened
[09:08] {nemo} yeah, what came out
[09:09] {Threei} I don't see any fresh news
[09:09] {nemo} they
[09:14] {strider} morning all:)
[09:14] {nemo}
[09:14] {Threei} strider :)
[09:14] {nemo} dunedin
[09:14] {Threei} what's there nemo?
[09:14] {nemo} California legalizing marijuana...for taxes of course
[09:15] {cosmo} and currency soon maybe
[09:16] {strider} ese, was that DRYS you were starting to buy yesterday?
[09:16] {nemo} yeah...this keeps up we'll be back to the barter system
[09:16] {ese} yes
[09:16] {ese} i like that 6.50 level
[09:17] {strider} thx. Long-term, has a lot of upside.
[09:17] {ese} will dabble a little here dabble a little there.....eventuallly it will take off
[09:17] {cosmo} ilmn
[09:18] {cosmo} wants to heal
[09:18] {Threei} Reportedly Goldman Sachs analyst lowers US Q3 GDP view to 2.7% v 3.2%
[09:18] {fernp} Good morning everybody
[09:18] {Threei} fern :)
[09:18] {ese} fern
[09:18] {ese} some stocks taking big hair cuts thes last few days
[09:19] {ese} bidu yesterday was crazy....80 some odd points
[09:19] {ese} almost 7pts dn for ilmn
[09:20] {Threei} magoo and dino have no internet connection this morning it seems
[09:21] {ese} big storm out there or something?
[09:22] {Threei} keeping an eye on AET,
[09:22] {Threei} having in mind QID to play market downside
[09:23] {ese} long at .80
[09:26] {dino} gm all
[09:26] {fernp} morning
[09:27] {ese} dino.......
[09:27] {Threei} dino :)
[09:27] {Threei} APOL, cruel
[09:27] {dino} running late thats all
[09:27] {dino} apol -11, esi -5
[09:27] {ese} always meant to ask you this get your nick from the Flintstones?
[09:29] {dino} yes, and always thought it was a good name for a dog
[09:30] {ese} definitely
[09:30] {nemo} my father's name
[09:30] {dino} neat
[09:31] {dino} in my darth vader voice "nemo I am (not) your father"
[09:31] {nemo} I know
[09:31] {nemo} aig on the edge
[09:32] {magoo} etsjopteoj;
[09:32] {Threei} CTDC, what the deuce
[09:32] {nemo} wokasfw20asvo
[09:32] {Threei} magoo :)
[09:33] {Threei} Long Setup: QID 23 break if holding above .90
[09:34] {Threei} Long Setup: HIG .92 if stays above .85 for scalpers
[09:35] {Threei} .90 for day traders
[09:35] {nemo} too fast
[09:35] {Threei} see if gives pullback for entry
[09:35] {nemo} .80 for day traders?
[09:36] {Threei} yes
[09:36] {strider} out HIG +.10
[09:36] {fernp} missed
[09:36] {Threei} no entry anyway iof missed first timwe
[09:36] {magoo} aapl pummeled vad
[09:36] {Threei} wtg strider
[09:36] {cosmo} ilmn 35 test
[09:36] {strider} figers getting a little faster.
[09:36] {strider} fingers
[09:36] {nemo} yeah, end of yesterday looked like a bear flag on aapl
[09:37] {Threei} AAPL, double bottom is forming, but morning volatility is horrifying
[09:37] {nemo} big vacuum own to 190
[09:37] {nemo} down
[09:37] {ese} nice one on HIG st
[09:37] {strider} thanks, ese
[09:38] {Threei} HIG, valid again as the same setup
[09:38] {Threei} .85 is a support for everyone this time
[09:39] {nemo} aig DT .15 important level
[09:39] {Threei} if invalidates, look for possible entry around .75
[09:39] {tomg} which stock, vad, had power failure
[09:39] {Threei} HIG tom
[09:39] {nemo} hig
[09:39] {tomg} ty
[09:39] {Threei} market downticks though
[09:40] {Threei} don't like this kind of setups against the market
[09:40] {Threei} so consider it discretionary
[09:40] {Threei} Preview: Sept New Home Sales due out at 10amET (14:00 GMT)
[09:40] {Threei} **consensus expectations: 440Ke v 429K prior (estimates range bewteen 412K-460K).
[09:42] {Threei} QID tries to reestablish
[09:43] {Threei} nope, invalidated again
[09:43] {Threei} but I like how 23 forms as a srong resistance to break
[09:43] {Threei} will come handy later in the day if/when market weakness comes
[09:45] {ese} l apol .11
[09:45] {ese} damn got in
[09:45] {ese} out apol .33
[09:45] {ese} wow quick +.20
[09:45] {fernp} WFC db, Vad?
[09:45] {dino} gj
[09:46] {dino} watching esi off it
[09:46] {ese} had stop in at.00 and it shot up to .50 then showed me at .11 bizzare
[09:46] {dino} yeah, air pocket trades
[09:46] {Threei} I doubt it fern
[09:47] {fernp} now yes. :)
[09:48] {Threei} watching HIG
[09:48] {Threei} awww
[09:48] {Threei} late
[09:48] {Threei} that .75 weas ideal entry for a scalp
[09:49] {Threei} market is narrow here
[09:49] {Threei} look at CAT,
[09:49] {Threei} just set up short by breaking .80,
[09:49] {Threei} I skipped it to see if it's real setup of headfake
[09:50] {Threei} range is 20 cents, a bit too wide
[09:50] {nemo} .89 was pivot
[09:50] {Threei} of = or
[09:52] {Threei} Short Setup: HIG .70 breakdown
[09:52] {Threei} stop above .80
[09:52] {ese} i liked esi at .oo dino but missed it
[09:53] {Threei} 1:1
[09:53] {fernp} ty
[09:53] {Threei} yw
[09:53] {nemo} cat vad
[09:53] {Threei} CAT was kind of inconclusive
[09:54] {Threei} chart wise it almost hit 1:1,
[09:54] {Threei} but I watched it trading,
[09:54] {Threei} fill was near impossible that low
[09:54] {Threei} 1:2 HIG
[09:54] {fernp} things are a bit jumpy this morning
[09:55] {Threei} 1:3, get out and get ready for bounce play
[09:55] {Threei} .45 long if holding .40
[09:56] {Threei} no go
[09:56] {fernp} no go
[09:57] {Threei} don't forget QID
[09:57] {Threei} this one is like rifle on the wall
[09:57] {fernp} 23 break, no?
[09:57] {Threei} yes
[09:57] {Threei} hanged there in the first act, sooner or later will fire up
[09:57] {ese} esi thoughts dino
[09:58] {dino} i think 10:00 report coming from something
[09:58] {dino} but overall like esi 95 area
[09:58] {ese} tks
[09:58] {dino} pulp
[09:58] {Threei} 09:40] {Threei} Preview: Sept New Home Sales due out at 10amET (14:00 GMT)
[09:58] {Threei} [09:40] {Threei} **consensus expectations: 440Ke v 429K prior (estimates range bewteen 412K-460K).
[09:58] {fernp} HIG bounce
[09:59] {dino} ash beats drops
[10:00] {Threei} *SEPT NEW HOMES SALES: 402K V 440KE (% M/M)
[10:00] {Threei} - Prior revised from 429K to 417K
[10:00] {Threei} - No revisions
[10:00] {Threei} - Median price $ v $195.2K m/m more... (related XHB SPY SHY EUR/USD )
[10:00] {fernp} QID
[10:00] {dino} hmmm glad i waited
[10:00] {fernp} valid here Vad?
[10:01] {dino} ]s/p lod
[10:01] {Threei} yes, on recross
[10:01] {Threei} if holding .90
[10:01] {fernp} ok
[10:01] {nemo} what up with aig?
[10:02] {Threei} no news AIG
[10:02] {Threei} just being itself I suppose
[10:02] {Threei} QID not a scalp for me
[10:03] {dino} ash sm l .50
[10:03] {dino} esi sm l .40
[10:04] {_Les__} RIMM threatening b/d vad?
[10:04] {Threei} MOT
[10:04] {Threei} Motorola Inc Officially launches Droid smartphone
[10:04] {Threei} - Model runs Google's Android smartphone software.
[10:04] {Threei} - Note: Back on 8/28 MOT commented that it was building its phone business around the Android platform
[10:04] {Threei} not sure RIMM
[10:05] {Threei} pretty much market dependent
[10:05] {Threei} VLO CEO: Impact of Congressional bill to regulate CO2 on VLO refineries will be "staggering" (31.85, -0.25, -0.78%) (related USO )
[10:09] {dino} out esi .15, +.75
[10:09] {Threei} wtg
[10:09] {dino} ty
[10:09] {fernp} yeah, gj
[10:09] {ese} nice dino
[10:09] {dino} ash to .25
[10:09] {dino} thx es
[10:09] {dino} lucky entry
[10:10] {dino} ash to .35
[10:10] {dino} out ash .34 ave, +.84
[10:10] {fernp} no go QID
[10:11] {ese} wow...take the rest of the day off
[10:11] {dino} lol, going for coffee
[10:13] {fernp} almost 1:1 QID, I need a crystal ball :)
[10:15] {dino} dji -3%, ndx, s/p -4.2% since last week. these have been bounce areas
[10:20] {strider} ENER
[10:20] {Threei} Preview: DOE (EIA) Petroleum Inventories due at 10:30amET
[10:20] {Threei} **Consensus expectations:
[10:20] {Threei} Crude: +1.4M
[10:20] {Threei} Gasoline: -1Me
[10:20] {Threei} Distillate: -700Ke
[10:20] {Threei} ENER takeover rumor
[10:20] {Threei} (again)
[10:21] {ese} l apol
[10:23] {dino} ash, esi pullbacks
[10:23] {ese} opps no price sorry .10
[10:24] {ese} out ..21 +.11
[10:24] {fernp} gj ese
[10:25] {dino} ash sm l .54
[10:25] {ese} its ok thought that it might bounce up but nahhhhh
[10:26] {Threei} market looks and feels breakdownish, yet no clear entries
[10:26] {dino} ash stop is .23 fwiw
[10:26] {nemo} oil announcement things will probably clear up
[10:26] {ese} the q's were bouncing at that time so it was worth a shot...but nothing came of it
[10:27] {Threei} QID, that wass rude
[10:28] {fernp} FTO Vad, valid breakout?
[10:29] {ese} it's working for you again dino........make athe coffee a double shot
[10:29] {dino} tighten ash to b/e
[10:29] {Threei} I wouldn't fern
[10:29] {dino} mkt drops
[10:29] {fernp} ok
[10:30] {fernp} yeah!!! ty
[10:30] {Threei} *DOE CRUDE: +775K V +1.4ME; GASOLINE: +1.6M V -1.0ME; DISTILLATE: -2.1MK V -700
[10:30] {nemo} wow...big gas build
[10:30] {nemo} I know...Captain Obvious
[10:30] {_Les__} valid consolidation in FSLR? Looks like it want's to glide higher...
[10:31] {nemo} that distillate number though...squeezing heating oil?
[10:31] {Threei} I'd rather play breakdown on FSLR if loses 153
[10:31] {nemo} aig vad?
[10:32] {Threei} but vilaility on FSLR is enormous, can kill you on spread alone
[10:32] {Threei} what about it?
[10:32] {nemo} too late
[10:32] {ese} thats a tricky one Les....minimum spread is always . around .20
[10:32] {dino} out ash flat
[10:33] {_Les__} vilaility? u mean vitality?
[10:33] {Threei} volatility
[10:33] {dino} apol lod
[10:33] {_Les__} :)
[10:33] {dino} ash, esi too
[10:33] {_Les__} b/d it is
[10:33] {nemo} threeish Les...and Lari isn't here to police him
[10:34] {_Les__} don't recall lot of FSLR talk mentioned here? difficult beast?
[10:34] {ese} so now it bounces apol
[10:34] {dino} i hate it
[10:34] {dino} fslr that is
[10:35] {dino} "better worlds" imo
[10:35] {nemo} frickin' amzn
[10:35] {ese} it's a beast....i tried to trade it a couple of times week before last and it drove me nuts with the volitility
[10:35] {ese} FSLR les
[10:36] {_Les__} what makes the volatility? computers, pro traders?
[10:36] {Threei} Short Setup: CAT 56 break
[10:36] {ese} probably both
[10:36] {Threei} this bounce high will be the stop level
[10:36] {ese} thats it's character......they each have there won character
[10:36] {ese} own
[10:37] {dino} ot: 3i i started atlas shrugged last night
[10:37] {Threei} not a small feat
[10:37] {Threei} just don't expect much from pure writing point of view :)
[10:38] {nemo} rimm...damn
[10:39] {Threei} .15 is resistance for CAT if sets up now
[10:39] {dino} ash sm l .00
[10:39] {ese} theres big money to be made in rimm nemo once it turns around though
[10:40] {dino} stop is .69
[10:40] {dino} big gap on rimm too58-48
[10:40] {ese} ya....just looking at that now
[10:41] {dino} at min. 58 should hit soon
[10:41] {ese} am considering bstop at 50 and just leaving it sit there
[10:42] {fernp} WFC also setting for a short play
[10:42] {dino} well -6 days out of 8, so odds w/you
[10:43] {ese} yup
[10:43] {Threei} 1:1 CAT
[10:43] {strider} too fast
[10:43] {fernp} not filled here
[10:44] {strider} still valid?
[10:44] {Threei} yes, same setup
[10:44] {nemo} aig vad short break 35
[10:45] {Threei} I guess... tough one nemo
[10:46] {Threei} let's trail CAT stop to above .10
[10:47] {Threei} .05 is more logical but could be a little too tight
[10:47] {_Les__} aapl testing previous supprt
[10:47] {fernp} ty
[10:47] {Threei} this market really needs to break down for real
[10:47] {strider} out +.10
[10:47] {strider} thx
[10:47] {Threei} CAT 1:1 again
[10:48] {ese} fitb geting hit
[10:48] {Threei} AIG beauty
[10:48] {nemo} crissakes quotes, froze, look at aig
[10:48] {Threei} Update: US House Financial Services commitee votes 49-14 to approve new rules for credit rating agencies
[10:48] {Threei} - committee felt agencies had misled investors in rating certain securities too high
[10:48] {Threei} quotes ok here
[10:48] {dino} tighten ash to .79 mkt drop
[10:48] {_Les__} aapl b/d
[10:49] {Threei} CAT 1:2
[10:49] {Threei} fern
[10:49] {Threei} look at QID
[10:50] {Threei} CAT 1:3, out in full
[10:51] {Threei} this is where I had QID exit in mind on original play
[10:51] {_Les__} great to watch, but would be nicer with real money :(
[10:53] {Threei} wow AIG... good call nemo
[10:54] {nemo} broken clock
[10:54] {fernp} QID cruel
[10:54] {Threei} nice breakdown market
[10:54] {dino} trv holds well, all too, pru breaking
[10:54] {Threei} just what it looked and smelled like
[10:54] {Threei} too bad QID choose to shake us out first, but CAT was there to help
[10:56] {fernp} yes, looking for my crystal ball in ebay
[10:56] {fernp} market and gold on lows
[10:57] {Threei} GLD actually testing two day's low
[10:57] {Threei} .20
[10:58] {fernp} could be a db... let's see
[10:58] {_Les__} thanks for realtime watch. Gonna sort out Bear's bizarre bank wiring requirements before end of day. cheers.
[10:59] {Threei} QID, pullback entry ideally is .15-.20 zone
[11:00] {dino} ash stopped -.21
[11:00] {Threei} a bit too sharp drop into .20, GLD
[11:01] {Threei} skipping break if occurs right now
[11:01] {fernp} HIG short if breaks 23.45?
[11:01] {Threei} but if bounces again, stays under .30, then breaks - I am in
[11:01] {Threei} not right now
[11:01] {Threei} again, too sharp rwed bar into support
[11:02] {Threei} GLD
[11:02] {Threei} valid
[11:02] {Threei} Short Setup: GLD .20 break
[11:02] {strider} shosrt .20?
[11:02] {Threei} stop above .30
[11:03] {Threei} hey, no shakeouts
[11:03] {Threei} just die
[11:03] {Threei} useless shiny yellow crap
[11:04] {fernp} no shakeout, pls
[11:04] {Threei} sigh
[11:04] {Threei} a bit too volatile
[11:05] {Threei} sharp spikes both eays
[11:05] {fernp} yes, ten cents stop here is nothing
[11:06] {Threei} Market Internals update at 11:00amET
[11:06] {Threei} - NYSE volume 440M shares, about 23% above its three-month average; decliners lead advancers by 4.5:1.
[11:06] {Threei} - NASDAQ volume 850M shares, about 16% above its three-month average; decliners lead advancers by 3.1:1.
[11:06] {Threei} - VIX index +5.5% to just over 26.00
[11:14] {dino} hmin sm l .50
[11:14] {dino} sgms sm l .20
[11:14] {dino} stops .17 hmin; .97 sgms
[11:16] {strider} thanks for the calls, dino
[11:16] {dino} np, hope they work
[11:16] {dino} i played tgese two yesterday, dropped big
[11:16] {strider} :)
[11:18] {dino} wow, really spelled these wrong
[11:19] {strider} oh, you meant GE and AMZN?:)
[11:20] {dino} lol, tgese=these
[11:20] {strider} oh, that's not so bad.
[11:20] {strider} target for SGMS?
[11:21] {Threei} yeah, much better than spell AAPL and GRMN
[11:21] {Threei} and = as
[11:21] {dino} .65ish
[11:22] {strider} I like your optimism!
[11:22] {dino} hmin is .99ish
[11:24] {Threei} you know what I am going to ask, right?
[11:24] {strider} No, you can't!
[11:24] {Threei} nah, not that
[11:24] {strider} Boris Karloff
[11:25] {Threei} lol
[11:25] {Threei} that's new
[11:27] {magoo} read on AMZN vad?
[11:27] {magoo} lows
[11:27] {dino} lol optimism, hmin down from yesterdays' open -$6; sgms -$5
[11:28] {Threei} long on pullback mags
[11:28] {Threei} closer to 121
[11:28] {dino} contrarian more me
[11:29] {dino} ash continues down on big beat
[11:29] {dino} wynn no luv yet
[11:29] {dino} esi, apol lod
[11:35] {Threei} QID precise bounce off .15
[11:36] {Threei} anyone caught it?
[11:39] {strider} HGSI bounce?
[11:42] {dino} sgms to flat hmin too
[11:43] {strider} sgms entry at .20, no?
[11:43] {strider} oh, toooo flat..
[11:43] {dino} skbi drop, thin
[11:44] {strider} thought you meant you were exiting flat.
[11:44] {dino} no stops to flat
[11:44] {strider} gotcha
[11:44] {strider} thx
[11:45] {dino} hmin, might want to lay out, trading gappy
[11:45] {strider} not in hmin
[11:45] {dino} ok
[11:46] {fernp} GLD again on lows
[11:49] {Threei} isn't it nasty?
[11:49] {Threei} 20 cents jump out of nowhere
[11:49] {fernp} yes, untradeable
[11:50] {Threei} look at 1 min on it, want to show you guys something
[11:50] {Threei} see greakdown at 10:47?
[11:50] {Threei} breakdown
[11:51] {Threei} perfect setup and floowed up perfectly
[11:51] {dino} hmin out .75, +.25
[11:51] {Threei} more or less decent setup, breakdown and follow up at 10:00
[11:51] {Threei} the rest is listless jumps up and down,.
[11:52] {Threei} seemingly setting up, then kills you if you try it.
[11:52] {Threei} Now,
[11:52] {Threei} have a look at market
[11:52] {fernp} Qs?
[11:52] {Threei} yup
[11:52] {Threei} see breakdowns at 10:00 and 10:47?
[11:52] {Threei} I don't think it's an accident
[11:52] {Threei} this thing works flawlessly when supported by the market,
[11:53] {Threei} but the tricky part is:
[11:53] {Threei} when market does nothing and stays in narrow range,
[11:53] {nemo} gld
[11:53] {Threei} GLD doesn't,
[11:53] {Threei} instead it pretends to form setup and trigger,
[11:53] {Threei} then ruins the play by sharp countermove
[11:54] {Threei} So, if this observation is correct, it's a player when the arket moves and "leave it alone" when it doesn't,
[11:54] {Threei} or better yet:
[11:54] {Threei} let's track down such "setup"
[11:54] {Threei} and fade it
[11:55] {Threei} let's papertrade this one for instance
[11:55] {Threei} .25 long
[11:55] {Threei} if stays above .15
[11:56] {Threei} market is locked, so by that theory it's likely to pretend to break down, then jump sharply
[11:56] {Threei} market selloff though will turn it into real breakdown
[11:58] {Threei} .20 break
[11:58] {Threei} if holding .10
[11:59] {fernp} paper?
[11:59] {Threei} or smallish shares
[11:59] {Threei} just testing the idea
[11:59] {fernp} ok
[11:59] {Threei} trying to turn enemy into friend
[11:59] {fernp} lol
[12:01] {Threei} modification #2
[12:02] {Threei} .16 trigger
[12:02] {Threei} if holdin above .10 again
[12:02] {fernp} feels like a nice breakdown (this is the typical breakdown I play)
[12:02] {Threei} lol, 5 sents stop on such animal
[12:03] {Threei} target closer to .30
[12:03] {Threei} sharp spike should take place now
[12:03] {Threei} if I got its behavior right
[12:04] {Threei} (RU) Reportedly Russia Fin Min is still mulling a large gold sale after cancelling a sale from reserves due to a media leak (related GLD )
[12:05] {fernp} we have a new friend :)
[12:05] {Threei} lol
[12:06] {Threei} rwached 1:2, and probably would be good for more if not this headline
[12:06] {Threei} reached
[12:07] {Threei} most remarkably, was possible to play with 5 cents stop
[12:07] {fernp} .25 was my virtual target and reached it
[12:08] {Threei} power of observation...
[12:08] {nemo} 55.20 3rd time for cat
[12:10] {dino} out sgms flat
[12:10] {strider} out sgms:(
[12:11] {dino} lets see if lod holds on it
[12:11] {strider} nice dbl bottom on 10 min chart
[12:11] {nemo} apol lost low
[12:12] {dino} lots of stuff i follow -10 to -20%
[12:12] {dino} in few days
[12:13] {strider} sgms I think the smart money just needs to reload
[12:13] {dino} esi back to july levels
[12:15] {dino} trades w/market
[12:15] {dino} today
[12:20] {nemo} apol could be in for big drop here
[12:21] {nemo} so much for second broken clock moment
[12:21] {Threei} 60 break
[12:21] {nemo} yeah
[12:22] {Threei} why not, nicely looking setup
[12:22] {nemo} invalidated now
[12:22] {Threei} will need to consolidate closer to it
[12:23] {nemo} sonafa...
[12:23] {fernp} 35 cents stop...
[12:25] {dino} ndx -5% 6 days
[12:25] {fernp} HIG not falling with market
[12:25] {nemo} aig short .89
[12:25] {Threei} IA) US House Panel passes the Iran refined petroluem sanctions act
[12:25] {Threei} - Note: Iran is a net importer of refined petroleum products
[12:26] {nemo} invalidate
[12:30] {Threei} Market Internals update at 12:30pmET
[12:30] {Threei} - NYSE volume 720M shares, about 40% above its three-month average; decliners lead advancers by 5.4:1.
[12:30] {Threei} - NASDAQ volume 1.33B shares, about 18% above its three-month average; decliners lead advancers by 3.4:1.
[12:30] {Threei} - VIX index +5.5% to just over 26.00
[12:31] {dino} not good high vol. drops
[12:35] {fernp} Im long here HIG .51 stop under .45
[12:43] {Threei} Preview: Treasury's $41B 5-year note auction results due just after 1PM ET
[12:43] {Threei} - $41B auction size is a $1B increase from Sep and another record
[12:43] {Threei} - prior bid-to-cover ratio 2.40 with an average of 2.22 over the last 10 auctions
[12:44] {nemo} that could be a real buzz-kill
[12:45] {Threei} buzz?
[12:45] {Threei} there is a buzz to kill?
[12:45] {nemo} term for when in a chemically induced euphoria
[12:46] {nemo} and then an incident comes along to negate the mood
[12:46] {Threei} let me try again...
[12:46] {Threei} there is any sign of euphoria around, chemically induced or othrerwise?
[12:46] {nemo} no...but it could further the demise
[12:49] {dino} or that guy on family guy, mr. buzzkill, can't remember his first name
[12:49] {nemo} sonafa...apol
[12:51] {fernp} QID vad?
[12:51] {fernp} no go HIG
[12:52] {Threei} hard to tell... I believe in further breakdown in the market but shakeouts are everywhwere
[12:52] {fernp} thanks
[12:52] {Threei} and this auction comes in a few minutes
[12:53] {Threei} may send market down screaming or start a vicious bounce
[12:53] {Threei} anyone's guess
[12:53] {nemo} any ac/dc setups?
[12:53] {strider} hey, this is a family room!
[12:54] {Threei} Buzz Killintgton, dino
[12:54] {nemo} you mean the Vermont ski area?
06[12:55] * nemo slaps strider around a bit with a large book of threeish etiquette
06[12:56] * nemo reminds strider to think about who runs this asylum
[12:57] {strider} Vad the Impaler?
[12:57] {KSystems} who was this seeing his birthday every time the markets were going down?
[12:57] {nemo} yeah...Darth Vad
[12:57] {nemo} Du spinnst...
[13:01] {nemo} cof at support too
[13:02] {nemo} the fed buy it all?
[13:02] {Threei} indirect bidders take 54.8% of competitive bids with 2.81% alloted at the high
[13:02] {dino} me ks
[13:02] {dino} -317
[13:02] {nemo} for what today?
[13:03] {dino} now fall 08-feb 09
[13:03] {Threei} well, what does this auction result mean?
[13:03] {dino} ]many -317 days
[13:03] {nemo} wtfn
[13:03] {nemo} I don't understand dinoish
[13:03] {Threei} HIG bounce starts
[13:03] {nemo} cof too
[13:04] {dino} patience remembers
[13:09] {Threei} MTXX...
[13:09] {Threei} class action suit dismissed
[13:09] {Threei} shrug
[13:09] {Threei} big deal
[13:11] {Threei} now, tell me FDA lifted that ban on their product troubled by loss of smell
[13:11] {Threei} and I'll grab all I can
[13:11] {Threei} that would send the stock to 10
[13:11] {Threei} or 15
[13:11] {ese} L fitb .8699 to be exact
[13:11] {ese} why don't we make it .87.....wha da ya say
[13:12] {Threei} no way
[13:12] {Threei} what kind of sloppy accounting that would be
[13:13] {ese} ya your right.....damn what was i thinkin
[13:14] {Threei} sin no more
[13:14] {Threei} nice bounce HIG
[13:14] {nemo} takes all the fun out of life
[13:14] {Threei} sorry nemo... I'll be known from now on as Buzz Killington
[13:15] {nemo} ahhh...amzn about to make 2nd test of .85
[13:15] {dino} thats the name
[13:15] {Threei}
[13:15] {nemo} ohhhh...don't watch that show...hate everything about it except stewie
[13:16] {Threei} I just love the moment whehn he finishes his "joke", and Peter takes off his glassses and wipes his eyes with deep sigh
[13:16] {Threei} wow HIG
[13:17] {dino} hmin sm l .37
[13:17] {Threei} I think bounce continuation after pullback guys
[13:17] {Threei} no new lows for today
[13:18] {dino} psys sm l .05
[13:18] {Threei} HIG entry on pullback around .40
[13:19] {nemo} apol weak
[13:20] {dino} ya think, lol
[13:21] {nemo} in this runup dude...geez
[13:21] {magoo} CIT mental
06[13:21] * nemo slaps dino around a bit with a large trout
[13:22] {Threei} 1:12:17 PM
[13:22] {Threei} CIT Group Inc Obtains $4.5B in financing through Expansion of Existing Secured Credit Facility; responds to Icahn letter
[13:22] {Threei} - expanded its current $3B senior secured credit facility by an additional $4.5B.
[13:22] {Threei} - The new $4.5B tranche, which is being provided by a diverse group of lenders, including many of the Companys bondholders, will be secured by substantially the same assets as the existing $3B tranche and any additional collateral that becomes available as a result of the Companys refinancing of certain existing secured credit
[13:23] {Threei} missed it
[13:27] {ese} out fitb .97 +.10
[13:27] {ese} all you really need is one good trade a day........
[13:33] {Threei} if you play 2 zillions little buggers, sure
[13:35] {ese} that was only 25k .......ehhhhhhhhh
[13:36] {Threei} Just 4% Trust Reporters More Than Themselves on Whats Good for America
[13:36] {Threei} that's really low % of idiots
[13:36] {Threei} unnaturally low
[13:42] {ese} lol
[13:43] {ese} pretty funny vad
[13:43] {Threei} moving target ese...
[13:44] {Threei} just as I celebrate sanity of population after reading something like that, I usually run into "35% believe higher tax helps economy"... and I am lost again
[13:46] {ese} yuuuuuuuuuup..............
[13:48] {Threei} HIG perfect bounce off .40
[13:48] {Threei} anyone got it?
[13:48] {tomg} i got it vad
[13:48] {fernp} missed
[13:48] {strider} rewind?
[13:48] {Threei} or you guys don't pay attention to any comment but exact immediate call?
[13:48] {Threei} ty tom
[13:48] {Threei} you made my day
[13:48] {Threei} someone pays attention
[13:48] {nemo} you said that a long time ago in moth-time
[13:48] {tomg} you made mine, too :)
[13:49] {ese} i'm just watchin......
[13:49] {Threei} strider... rewinding:
[13:49] {Threei} [13:17] {Threei} I think bounce continuation after pullback guys
[13:49] {Threei} [13:17] {Threei} no new lows for today
[13:49] {Threei} [13:18] {dino} psys sm l .05
[13:49] {Threei} [13:18] {Threei} HIG entry on pullback around .40
[13:49] {ese} still enjoying my last trade
[13:49] {ese} although.......if i can get into your habit vad....
[13:49] {strider} that was 30 minutes ago!
[13:49] {nemo} yeah...might as well been last century crissakes
[13:49] {ese} of selling half and hangin in there with
[13:50] {ese} other 1/2 with stop loss
[13:50] {ese} maybe could enjoy them more
[13:50] {nemo} amzn looking toppy
[13:51] {ese} ya strider.....the enjoyment can hang in there for a while......lifes to short not to enjoy
[13:51] {ese} what can i say
[13:51] {Threei} ese, if you feel you got the established direction, try it
[13:51] {strider} yeah, I've slept since then. :)
[13:51] {Threei} risk is none, you are playing with house money after booking half and trailing stop
[13:52] {Threei} look at HIG
[13:52] {ese} i need to buy vad a bottle of champaanea at the end of this year to celebrate the most successful trading year of my life
[13:53] {Threei} single malt will do
[13:53] {ese} done
[13:53] {nemo} I'll take a Bernkastler Doktor Beerenauslese
[13:53] {Threei} GM Reportedly GM to draw on Government loan in coming days - WSJ
[13:53] {Threei} **Note, earlier today GMAC was to sell $3B in FDIC backed 3-year bonds
[13:53] {ese} what the f&^% is that
[13:53] {nemo} wine
[13:53] {nemo} ask K
[13:54] {ese} wow never heard of tit
[13:54] {ese} it
[13:54] {nemo} arguably the best Riesling on the Mosel
[13:59] {Raven} Trockenbeerenauslese
[13:59] {nemo} yeah...if you can find it
[13:59] {Raven} I get it at the gas station
[14:00] {Threei} lol
[14:00] {ese} ha ha ha ha ha rotfl
[14:00] {nemo} I'm visiting my uncle for Thanksgiving...he's got two bottles of auslese
[14:00] {Raven} Speedway
[14:00] {nemo} We both no better than that Raven
[14:00] {ese} that made my day
[14:00] {nemo} know
[14:00] {Raven} lol
[14:00] {Threei} Market Internals update at 2:00pmET
[14:00] {Threei} - NYSE volume 955M shares, about 40% above its three-month average; decliners lead advancers by 6.3:1.
[14:00] {Threei} - NASDAQ volume 1.76B shares, about 21% above its three-month average; decliners lead advancers by 3.6:1.
[14:00] {Threei} - VIX index +7% to just over 26.50
[14:01] {nemo} hell most "wine" stores don't carry it
[14:02] {Raven} too sweet anyway
[14:03] {nemo} Trocken...yeah...but I'd suffer through a Doktor, Graben, or Schloss Vollrads
[14:03] {Raven} Moonshine works for me
[14:03] {nemo} works for me too...just more painful to drink
[14:03] {Raven} does not take as much
[14:04] {nemo} helluva' lot cheaper though...not counting the ulcers
[14:04] {Raven} more toxic aldehydes and keytones in the wine
[14:04] {Raven} good shine is just CH5OH
[14:05] {nemo} I'll get over it
[14:07] {fernp} have to go. see you all tomorrow. good evening
[14:07] {Threei} take care fern
[14:09] {nemo} aig
[14:10] {dino} psys stopped -.25
[14:12] {Threei} I'll be very surprized if we make new low today
[14:14] {dino} coin toss imo
[14:16] {Threei} Short Setup: QID .44
[14:16] {Threei} if stays under .50
[14:16] {Threei} not a scalp looking for sizeable market bounce
[14:17] {nemo} you mean "drop"?
[14:17] {Threei} ??
[14:17] {Threei} it's QID
[14:17] {nemo} nevermind..IDIOT ME!
06[14:17] * nemo slaps nemo around a bit with a large trout
[14:18] {Threei} invalidated but watching for reestablishment
[14:18] {Threei} HIG should be bounce-ready around .60
[14:20] {nemo} vwap on hig is .60
[14:20] {dino} you were saying 3i?
[14:20] {dino} lows coming
[14:21] {Threei} so I'll be surprized
[14:21] {nemo} Lari!
[14:21] {Threei} won't be a first
[14:22] {Threei} HIG is ready with market help
[14:22] {dino} dji new lows
[14:23] {Threei} crap
[14:23] {dino} ndx surprise too
[14:23] {Threei} look what kills the market:
[14:23] {Threei} NY Fed Advisor: FOMC could change therate language nex tweek
[14:23] {dino} spx surprise
[14:23] {Threei} this is what stopped bounce in its tracks
[14:23] {nemo} no...not the language...anything but that
[14:25] {Threei} caught .56 on HIG
[14:26] {Threei} Auto Industry Group: Expecting China to initiate an anti dumping case against the Big 3 in the US; have not yet seen specifics
[14:26] {Threei} wtf
[14:28] {Threei} - Reports indicate that approx 9K vehicles are exported to China from the Big 3
[14:28] {Threei} yeah, that floods China with US-made cars
[14:28] {nemo} yeah...and they buy what...a million a month
[14:31] {Threei} Short Setup: QID .55 break if stays under .60
[14:32] {strider} what's the setup here?
[14:32] {Threei} double top
[14:32] {strider} k
[14:32] {nemo} 2nd peak inside bollinger bands
[14:35] {dino} psys rined
[14:36] {ese} gotta go all.......we have Chaka Khans daughter coming to see us at rehearsal today.....gonna be a fun day
[14:36] {Threei} take care ese
[14:36] {ese} cya vad
[14:36] {dino} cool
[14:37] {ese} yup
[14:37] {Threei} come on already market, it's time
[14:37] {Threei} sigh
[14:44] {Threei} can't get a grip on this moment
[14:44] {Threei} everytbhing was in place for a nice juicy bounce,
[14:44] {Threei} then this headline came about
[14:44] {Threei} and spooked players
[14:44] {Threei} whole dynamic changed
[14:45] {Threei} and btw, guess who is on TV
[14:45] {nemo} Kyra Sedgwick?
[14:45] {Threei} inventive
[14:46] {nemo} thank you...i guess
[14:46] {Threei} AIG...
[14:46] {Threei} mags... you here?
[14:47] {Threei} feels like fireworks coming... no technicals whatsoever though
[14:48] {magoo} up?
[14:48] {Threei} yeah
[14:49] {magoo} ok in
[14:49] {magoo} .96
[14:51] {Threei} does this qualify as fireworks?
[14:51] {magoo} no points does
[14:52] {magoo} like 38
[14:52] {Threei} eeck
[14:54] {Threei} US Pres Obama has signed $680B defense authorization bill for 2010
[14:54] {Threei} I just wish I knew why it must be done on TV
[14:57] {Threei} 50 cents
[14:58] {nemo} Propaganda Ministry
[14:58] {Threei} I knew it was your trade mags
[14:58] {Threei} personalized call
06[14:58] * Threei slaps magoo around a bit with a large roll of cash
[15:02] {dino} apol back to may levels
[15:02] {Threei} (EU) ECB's Noyer: no reason to raise interest rates at this time; US has everything to gain from strong USD
[15:02] {Threei} - No reason to believe global growth cannot return to 5% in coming years
[15:02] {Threei} - Many uncertainties remain in 2010 growth
[15:02] {dino} 52 week low 52s
[15:03] {Threei} dino... -40-50 is my finish bet
[15:04] {Threei} larisa is not here to take middle ground
[15:04] {Threei} so it's polarized bet, yours against mine
[15:05] {dino} the efficient market strikes again, see bidu, lol
[15:05] {Threei} lol
[15:05] {Threei} so, your call?
[15:05] {dino} my bet 3i towards lows, say 9770s
[15:05] {dino} so -95ish
[15:06] {Threei} I really want to put my money on that and short QID but this bouncing around just won't let me find a good entry
[15:14] {Threei} wow, am I off or what
[15:14] {dino} feels heavy
[15:16] {dino} all, trv held strong
[15:26] {Threei} RCL...
[15:27] {Threei} if stays uner .80, short on low break
[15:33] {Threei} Market Internals update at 3:30pmET
[15:33] {Threei} - NYSE volume 1.25B shares, about 42% above its three-month average; decliners lead advancers by 10.9:1.
[15:33] {Threei} - NASDAQ volume 2.29B shares, about 21% above its three-month average; decliners lead advancers by 5.1:1.
[15:33] {Threei} - VIX index +9% to just over 27.00
[15:33] {Threei} wow... serious volume came in today
[15:34] {Threei} (US) Consumer Group: US sugar supplies are inadequate and USDA should increase import quotas (related JJG IPSU )
[15:34] {Threei} are we running out of sugar?
[15:34] {Threei} last year it was rice, right?
[15:38] {nemo} cya tomorrow folks
[15:39] {Threei} take care nemo
[15:39] {Threei} dino you win
[15:40] {Threei} I really doubt on last 20 min we bounce that much as I need to save my bet
[15:43] {dino} anything's possible in this market.
[15:49] {dino} some brutal 2-3 day pullbacks
[15:53] {strider} See you guys tomorrow...
[15:54] {Threei} take care strider
[15:55] {strider} :)
[15:55] {dino} cya
[15:56] {dino} s/p gap 1040, oct 6
[15:59] {Threei} thank you asll
[15:59] {Threei} have a good evening, see you tomorrow
[15:59] {lasertrev} see ya
[16:03] {dino} fslr blood
[16:04] {Threei} First Solar Inc. Reports Q3 $1.79 v $1.74e, R$481M v $529Me
[16:04] {Threei} - Guides FY09 R$1.98-2.03B v $2.0Be (Guided FY09 R$1.9-2.0B on 7/30)
[16:05] {Threei} SYMC Reports Q2 $0.36 v $0.33e, R$1.47B v $1.43Be; Announces $1B buyback
[16:06] {dino} itri whack a mole
[16:07] {dino} who was asking on fslr today? pain
[16:07] {Threei} then more pain
[16:08] {Threei} if magoo wakes up and sees FSLR at 70 tomorrow, he will buy all shares there is
[16:08] {Threei} AKAM Reports Q3 $0.18 v $0.35e, R $206.5M v $199Me - Update
[16:09] {Threei} - The number of customers under recurring contracts at the end of the third quarter increased to a record 3,031, an 8 percent increase year-over-year.
[16:09] {dino} fslr gap around 122
[16:09] {dino} akam, nongap .38
[16:13] {dino} ok tomorrow big up, cramer just posted 9500 coming
[16:15] {Threei} here comes my bounce
[16:15] {dino} gn all
[16:15] {Threei} take care