Monday, February 1, 2010

Feb 01 2010

Decent day with a few scalps and couple bigger trades. One that got away because we refused to chase an entry was LVS that we missed at 16.05, only to see it proceeding to over 17 not giving another chance for entry.

Session Time: Mon Feb 01 00:00:01 2010

[08:18] {Les} I CAN'T STAND IT! Someone speak please!
[08:18] {Les} GM :)
[08:26] {Les} :(
[08:26] {Threei} Good morning Les
[08:27] {Les} Vad you've gotta open a European trading office as well. I can't wait until 3:30pm to start
[08:28] {Threei} let me think about it
[08:28] {Threei} ok, I thought about it
[08:28] {Threei} nah
[08:28] {Les} what, you're not prepared to work 16 hours a day? selfish...
[08:29] {Threei} not even 12
[08:29] {Threei} although with new project on hands, it's certainly not 8
[08:29] {Les} ?
[08:30] {Les} new project to share with us?
[08:30] {Les} that you care to share with us?
[08:30] {Threei} CNLG Announces Advance Orders for 280 Systems and Other Equipment Valued at over $1,900,000
[08:31] {Threei} working title "Tao Te Ching for Traders"
[08:31] {Les} ah a new book?
[08:31] {Threei} rather an electronic course
[08:32] {Threei} title pretty much descrobes what it is about
[08:32] {Les} never heard of him
[08:32] {Threei} whom?
[08:32] {Les} Tao Te Ching
[08:32] {Threei} it's not he
[08:34] {Les} ok. given it a wiki glance. this is what Nemo is teaching?
[08:35] {Threei} I don't know if teaching is what he is doing... rather, he is a scholar of this philosophy
[08:35] {Les} cool. Where is that lazy bum?
[08:36] {Threei} snowed in?
[08:36] {Les} some more?
[08:36] {Threei} wow CNLG
[08:36] {Threei} 1.9 mil, who would have thought it's hat much for it
[08:38] {Les} someone's making out like a bandit
[08:44] {Threei} haven't expected such reaction on this one
[08:44] {strider} whatcha lookin at?
[08:44] {Threei} size of order is quite miniscule
[08:44] {Threei} CNKG strider
[08:44] {strider} :)
[08:44] {Threei} 1.9 mil in new orders
[08:44] {Threei} CNLG
[08:48] {Les} hey strider
[08:49] {fernp} Good morning everybody
[08:49] {Threei} fern :)
[08:49] {Les} hola
[08:50] {fernp} FNF nice dbi on daily
[08:50] {fernp} hola Les
[08:51] {strider} morning les
[08:51] {strider} fern, vad:)
06[08:51] * Threei slaps nemo around a bit with a large alarm clock
[08:51] {Les} haha
[08:52] {nemo} insomnia
[08:52] {Les} good film
[08:52] {nemo} nodded off at dawn
06[08:52] * Threei slaps nemo around a bit with a large bag of sleeping pills
[08:55] {Les} speaking of films, found some motivational reinforcement from Ben Affleck, off all people:
[08:55] {strider} CNLG annual sales $1.5 million
[08:55] {Les}
[08:55] {strider} just doubled the size of their business.
[08:56] {Threei} you sure it's 1.9 onj top on 1.5?
[08:56] {Threei} and not just 400K addition?
[08:57] {strider} no:)
[08:57] {strider} sold a little at .32
[08:58] {larisa} gm :)
[08:58] {Threei} larisa :)
[08:58] {Les} hi larisa
[08:58] {larisa} vad, les :)
[08:59] {Les} what widgets CNLG selling? any details?
[08:59] {strider} Conolog Corporation, together with its subsidiaries, engages in the design, manufacture, and distribution of small electronic, and electromagnetic components and subassemblies.
[08:59] {strider} They have subsidiaries:)
[09:00] {Threei} Euro vs US Dollar Dealer chatter circulating that ECB not concerned over recent weakness in Euro currency
[09:00] {Threei} - Dealers noting that the central bank might be concerned over possible spillover of Greek debt problems to other states
[09:01] {Threei} SDIX Selected Again to Produce Monoclonal Antibodies for SAIC-F to Advance Cancer Research
[09:01] {Threei} again?
[09:01] {Threei} lol
[09:05] {ese} good morning
[09:05] {Les} hey ese
[09:05] {Threei} ese :)
[09:05] {Les} head in one piece?
[09:05] {ese} hey les......countdown to Italy time
[09:06] {ese} yes much better
[09:06] {ese} morning vad
[09:07] {Les} CNLG looking for another run?
[09:08] {strider} stopped CNLG---fooled me.
[09:13] {Threei} WYNN Reportedly Jan Macau casino revenue +63.3% y/y - Portuguese media (related LVS MPEL MGM )
[09:13] {Threei} can make LVS a play
[09:18] {Les} Chinese investors have found an avenue for all that free money?
[09:23] {_moeberry} GM everyone
[09:23] {Threei} moe :)
[09:23] {strider} morning moe
[09:26] {lasertrev} morning
[09:26] {Threei} trev :)
[09:28] {i2romantis} gm all, happy hunting :)
[09:28] {Threei} i2r :)
[09:29] {Les} hi i2r
[09:29] {nemo} trev dcc
[09:31] {strider} X
[09:31] {Les} LVS
[09:32] {dino} gm
[09:32] {Threei} dino :)
[09:33] {Les} CNLG support .13
[09:35] {Les} CNLG returning to support. looking for short setup
[09:35] {dino} neu drops again
[09:36] {dino} esi too
[09:37] {fernp} WFC 29 break, Vad?
[09:37] {Threei} jusr looked at it :)
[09:37] {Threei} no
[09:38] {fernp} ok
[09:38] {Threei} unless market jumps sharply
[09:38] {Threei} dioesn't look to be in cards though
[09:38] {Threei} I am in oullback hunting mode rather
[09:39] {Threei} LVS, nexr leg down should be interesting for long entry
[09:40] {Threei} ok
[09:40] {Threei} close to entry,
[09:40] {Threei} most likely near .70,
[09:40] {Threei} watch WYNN for guidance
[09:43] {Threei} Long Setup: LVS .75 break if stays above .70
[09:45] {strider} ??
[09:45] {strider} wass above .75 when you called.
[09:46] {Threei} was .76
[09:46] {Threei} .77 was eaily available if you had it on the screen
[09:46] {fernp} WFC still around 29 and FAS breakin hod
[09:46] {Threei} it's a play now fern
[09:46] {Les} out 86 +.05 ty
[09:47] {fernp} ty
[09:47] {Threei} out LVS .90
[09:47] {strider} out .74 to .92
[09:47] {strider} :)
[09:48] {Threei} sheesh
[09:48] {Threei} so what was the problem???
[09:48] {strider} I was partialled in when you made the call....
[09:48] {strider} wanted some more, but didn't take it.
[09:48] {strider} I'm holding you responsible.
[09:49] {Threei} les, how did you get .81??
[09:49] {Threei} a bit too high
[09:49] {dino} esi sm l .00
[09:49] {Threei} (US) Preview: Jan ISM Manufacturing due out at 10:00ET
[09:49] {Threei} **consensus expectations:
[09:49] {Threei} - ISM Manufacturing: 55.5e v 55.9 prior
[09:49] {Les} I took a .80 break with .75 stop.
[09:49] {Threei} (US) Preview: Dec Construction Spending (m/m) due out at 10:00ET
[09:49] {Threei} **consensus expectation: -0.5%e v -0.6% prior
[09:50] {Threei} before the call ot after?
[09:50] {Les} seconds after. chose .80 break as WYNN was moving positively
[09:51] {Threei} ok... not sure about the logic of .75 - .80 setup when .70 - .75 was there and offered better price
[09:51] {Les} I was too late
[09:51] {Threei} BRK.b
[09:51] {Threei} what's up
[09:52] {nemo} fcx up 3 already
[09:53] {Threei} Long Setup: BRK.B .75 half lot
[09:54] {Threei} uf stays above .60
[09:54] {dino} snda gap filling
[09:56] {Threei} lol, hiSEEDt 1:1 before I typed stop
[09:57] {Threei} SEED
[09:57] {Threei} wghat's up there?
[09:57] {Threei} SEED Hearing renewed takeover chatter circulating
[09:57] {Threei} CBAK Strength attributed to chatter of a large battery supply contract
[09:58] {Threei} rumor mill is back to full speed
[10:00] {Threei} *(US) JAN ISM MANUFACTURING INDEX: 58.4 V 55.5E; PRICES PAID: 70.0 V 62.4E
[10:00] {Threei} *(US) DEC CONSTRUCTION SPENDING (M/M): -1.2% V -0.5%E
[10:00] {Threei} prior revised lower from -0.6% to -1.2%
[10:01] {Threei} Long Setup: LVS .05 if stays above .95
[10:02] {Threei} US) White House sees 2010 unemployment averaging 10.0% v 9.8% prior
[10:02] {fernp} FNF breakdown, Vad?
[10:03] {Threei} I think so
[10:03] {dino} cagc sm l .60
[10:03] {Threei} not likely to be fast though
[10:03] {fernp} yeah
[10:04] {i2romantis} MSFT
[10:06] {dino} cagc stop is .29 fwiw
[10:06] {dino} stopped
[10:08] {Threei} SBGI?
[10:08] {Threei} don't see anything fresh
[10:10] {dino} snda sm l .50
[10:10] {Threei} ir LTS for that matter
[10:10] {Threei} or
[10:10] {Threei} AMZN, what a selloff
[10:11] {Threei} thought of short on .40 breakdown but the stop was unbearably wide
[10:11] {larisa} 120.40?
[10:11] {Threei} no, 121
[10:11] {larisa} oh, scared me :)
[10:12] {Threei} lol
[10:13] {ese} L altr .75
[10:14] {Threei} .80 break should give you your spike to dump into ese
[10:15] {Threei} if you are looking for a scalp that is
[10:15] {ese} out altr .84
[10:15] {Threei} there you go
[10:15] {Threei} hpw did I know that
[10:15] {ese} +.09
[10:16] {ese} tks vad
[10:16] {Threei} AONE BofA/Merrill Lynch reiterates Underperform rating, price target $16
[10:17] {Threei} grrr
[10:17] {Threei} LVS is getting away
[10:17] {ese} whaaaaaa .83627 what the hell is that not quite .09
[10:17] {Threei} lol
[10:18] {Threei} you know what's happening ese?
[10:18] {Threei} your broker sells your order flow
[10:18] {ese} seems thats what you get when you do 4 or 5 k....never exact price
[10:18] {Threei} that's how they charge you smaller commissions,
[10:18] {Threei} making it up on the slippage
[10:19] {Threei} they get those 9 cents you wanted,
[10:19] {Threei} they give you lower fill,
[10:19] {Threei} pocket difference,
[10:19] {Threei} stealing much more than commissions from you
[10:19] {ese} ya .......that was 4k.....i'll take it
[10:19] {Threei} oldest trick in the book
[10:19] {dino} fsys
[10:19] {Threei} LVS... I am irritated
[10:22] {i2romantis} MSFT again
[10:23] {ese} L cien .95
[10:23] {ese} nice...caught that little spike
[10:24] {ese} get up there
[10:26] {ese}'ll hit13.10 for the cup part then make a little handle back to .05 and away we go
[10:26] {fernp} FAZ, Vad?
[10:26] {Threei} bounce hunt in order
[10:27] {Threei} by usual routine
[10:27] {ese} stop .94 cien
[10:30] {dino} omcl
[10:32] {ese} cup and handle prediction still intact....still lookin grimm though
[10:35] {ese} stopped
[10:35] {ese} .9345
[10:36] {ese} .?? whatever
[10:36] {Threei} there you go
[10:36] {ese} -.??
[10:36] {Threei} can't forgive myself for not nailing another entry on LVS
[10:38] {ese} stop was a little too tight for sure buy .95 stop .94 could have given it more wiggle room
[10:39] {ese} .90 would have been better
[10:40] {Les} early strength in WFC looking weak now
[10:41] {Les} l qid .23
[10:41] {fernp} EFX, Vad?
[10:41] {fernp} if breaks .30
[10:42] {Threei} doesn't feel right
[10:42] {fernp} ok ty
[10:47] {ese} dino ya there.....have ya had a gander at gci
[10:47] {ese} not quite dn 2.00 but it's got that look
[10:49] {ese} naaaaa forget it.....q missed
[10:50] {dino} hmm
[10:51] {dino} not bad report
[10:51] {ese} i wouldn't expect it to bounce......not with negative Q
[10:52] {ese} missed by almost .10
[10:53] {dino} showing .72 vs .64
[10:54] {ese} y/y ?
[10:54] {dino} homb
[10:55] {dino} pres. found dead
[10:55] {dino} homb that is
[10:55] {Les} averaging in qid .31
[10:55] {Les} out qid .35
[10:55] {dino} scanners going all red
[10:56] {ese} yup
[10:58] {strider} IDXX
[10:59] {Threei} IDXX is a bounce candidate
[10:59] {dino} jst
[11:00] {ese} and a good Q as well vad
[11:02] {Threei} looks getting ready
[11:04] {Les} BAC .23 b/d?
[11:04] {Threei} way too narrow these days
[11:05] {Les} I just wanna catch it if it fails 200 ma support
[11:05] {Threei} AMZN... Larisa, 120.40 was an entry as well {G}
[11:05] {Threei} anyone went for IDXX?
[11:06] {nemo} I just got back, what was the call
[11:06] {strider} looks too perfect, IDXX
[11:06] {Threei} no exact call, not really a stock I can do more with than general idea
[11:06] {Threei} it's a dino-type
[11:06] {nemo} oh, I didn't see anything
[11:06] {fernp} EFX didn't fall with SPY
[11:06] {dino} sm l gci .30
[11:07] {Threei} I like it much more now fern
[11:07] {fernp} yeah i will try .30 break
[11:08] {dino} homb sm l .05 stop .79
[11:08] {dino} gci stop is .08
[11:15] {Threei} Short Setup: BRK.B .50 break half lot
[11:15] {Threei} if stays under .65
[11:16] {Threei} not a scalp for me
[11:20] {Threei} invalidated
[11:21] {dino} rino
[11:21] {nemo} gld quite a snap back today
[11:23] {Threei} BRK.B valid again
[11:25] {Threei} and not again
[11:26] {Threei} Long Setup: BC 11 break
[11:26] {fernp} .90 stop?
[11:26] {Threei} .95 for extreme scalpers but I'd go with .90
[11:27] {fernp} 1:1 EFX
[11:32] {Les} brk b
[11:33] {Threei} so far, this looks like just a little bounce in the markets, with downward continuation when it's overf
[11:33] {Threei} I mean a daily chart
[11:35] {Threei} nice drop BRK.B
[11:36] {dino} out homb .82 ave, +.77
[11:36] {Threei} wtg
[11:36] {dino} ty, started off rough
[11:39] {fernp} BAC .41
[11:39] {fernp} stop under .35
[11:41] {Threei} Short Setup: ERJ .15 break
[11:42] {Threei} if stays under .25
[11:42] {nemo} great, a dino stock
[11:42] {Threei} 1 cvent spreadZ?
[11:43] {Threei} when did you see dino playing that?
[11:43] {nemo} I have, I'm talking volume
[11:43] {nemo} anyway, look at mos an fcx
[11:44] {Threei} AMZN new leg down is coming it seems
[11:45] {nemo} 114.72 is pivot support
[11:45] {nemo} and, just below .40 I have a support line drawn in for some reason
[11:46] {ese} nothing wants to go least on my scanned stocks
[11:48] {Threei} here comes AMZN
[11:48] {dino} out gci .70, +.40, thx for heads up on it es
[11:49] {ese} nice dino......i stopped following it....wrongly as it apears
[11:50] {ese} nice bounce off 14 basically
[11:50] {ese} am hunting cien around 13
[11:50] {nemo} amzn should bounce at .72
[11:56] {fernp} MSFT .20 break, Vad?
[11:56] {fernp} if qqqq bounces
[11:56] {nemo} joyg, looks short below .80 stop .90
[11:57] {Threei} if holding .15
[11:57] {fernp} ok
[11:57] {Threei} don't want to give it room to .10 really
[11:58] {nemo} amzn amazing
[11:58] {fernp} that was my original stop. Under .10
[11:58] {Les} brk b
[11:58] {Threei} this C&H it's building doesdn't have right volume configuration fern
[11:58] {Threei} so I am skeptical
[11:58] {fernp} ok
[11:59] {nemo} 1/2 out joyg ..70
[11:59] {nemo} 1/4 more . 60
[12:00] {nemo} stop to b/e
[12:00] {Threei} wtg
[12:00] {nemo} yeah...considering how fractured my concentration is today
[12:00] {nemo} ty
[12:01] {Threei} Market Internals update at 12:00pmET
[12:01] {Threei} - NYSE volume 395M shares, about 10% below its three-month average; advancers lead decliners by 2.7:1.
[12:01] {Threei} - NASDAQ volume 1.01B shares, about 10% above its three-month average; advancers lead decliners by 1.2:1.
[12:01] {Threei} - VIX index -7% to just under 23.00
[12:02] {strider} vad, you stopping ERJ above ..25?
[12:03] {nemo} stopped last joyg
[12:03] {nemo} damn, dropped
[12:03] {nemo} bastid
[12:03] {Threei} yes strider
[12:06] {nemo} appointment trading at it's best -erj
[12:08] {nemo} mos coul e interesting, look at offer at .50, but it is lunch
[12:09] {Threei} RADA Receives $4.5M New Orders During January 2010
[12:09] {Les} jeezuz nemo, you perform vodoo magic on ERJ to get it to move that quickly?
[12:09] {nemo} shamanism
[12:09] {Threei} rain dance
[12:10] {Threei} nemo in tutu
[12:10] {Les} speaking of false idols
[12:10] {nemo} nahhh...that stuff is too modern...less effective
[12:10] {Threei} ese is dtumming
[12:10] {nemo} don't laugh, there's a charcoal drawing of me hanging in the Getty museum in California
[12:11] {Threei} lol... got whole 100 shares of RAD at .60
[12:11] {Threei} RADA
[12:11] {Threei} sll there was, next offer was .85
[12:11] {dino} neu
[12:11] {Threei} do I take my mind-boggling 25 bucks profit?
[12:12] {Les} hey I used to work one hour for such a sum of money!
[12:12] {Threei} yeah, but I am already out of burger-flipping age
[12:12] {Threei} stop under .50, offering 3.10
[12:13] {Les} lol
[12:14] {Threei} who is an imbecile selling into bid with 30 cents spread, I want to know
[12:14] {nemo} Les???
[12:14] {Threei} I can see trout being raised
[12:14] {dino} lol
06[12:15] * nemo unsnaps trout holster
[12:15] {strider} watch where you point that thing.
[12:15] {Threei} lol
[12:15] {Les} IT WASN'T ME!
[12:16] {strider} I think ERJ has the urge.
[12:16] {Threei} ERJ... held stop level with amazing precision
[12:16] {Threei} hard to tell what kind of odds it has to work
[12:16] {Threei} chart is right, but as nemo said... trades by appointment
[12:16] {nemo} lunch too
[12:20] {strider} CNLG:)
[12:21] {nemo} mos short, but, 200 ma at .10
[12:21] {Threei} you in strider?
[12:22] {strider}
[12:22] {strider} My rational mind overruled the market.
[12:23] {nemo} cat
[12:23] {nemo} short if it fails .85 again
[12:24] {nemo} stays under .95
[12:24] {Threei} OPTT Awarded $380K of added funding for PowerBuoy's commissioning and in-ocean operation (update)
[12:24] {Threei} - Funding granted after successful deployment of Powerbuoy at Marine Corp base in Hawaii.
[12:24] {strider} charts are really sluggish today.
[12:25] {nemo} oh well on cat
[12:27] {Threei} not a suggestion of a play right now, but overall, OPTT is an intriguing one
[12:27] {nemo} cat establishing a range
[12:28] {strider} As all cats do.
[12:28] {Threei} and dropped quite nicely on daily
[12:28] {strider} Is it peeing on everything?
06[12:28] * nemo slaps strider around a bit with a large tiger trout
[12:28] {ese} ok heres one for you....if you are having chart problems...have been getting nothing but dashes on my charts for the last 45 min....turns out my computor time switched time zones and it wasn't synced up with the brokers time...go figure
[12:28] {nemo} musicians
[12:28] {ese} watch out for that one
[12:29] {nemo} That's alright...I got one for you
[12:29] {Les} bloody hell! what am I look at then?
[12:29] {nemo} You log in...the layout you have isn't quite there
[12:29] {Les} Yesterday?
[12:29] {ese} ya lost my sense of time....basically the worst thing that could happen
[12:29] {nemo} You go to reopen the layout, and the program crashes
[12:29] {nemo} and crashes
[12:29] {nemo} and crashes
[12:30] {fernp} took MSFT 1:1 here
[12:30] {dino} neu sm l .50 risky
[12:35] {Les} LVS approaching hod again.
[12:39] {ese} cien trading range .90 to.00 all morning bstop .01
[12:45] {Les} $ steady but $GOLD up nearly $25
[12:46] {Threei} looking at GLD daily, natural bounce off 105 support
[12:46] {ese} ok bought some at .00 2k
[12:46] {ese} cien
[12:50] {ese} l cien avg .013
[12:53] {Les} q's still flirting with resistance. a break would be nice
[12:55] {ese} ya
[12:57] {ese} me thinks i'm gonna hold my position in senses still say up
[12:59] {ese} l acor.75
[12:59] {ese} it hit a bstop from3 days ago
[13:01] {ese} out acor .86
[13:01] {ese} +.11
[13:04] {dino} gj
[13:04] {dino} out neu .35, +.85
[13:04] {ese} gj as well
[13:05] {dino} thx
[13:14] {Threei} (US) White House Press Secretary Gibbs: jobs are now priority over deficit in the short term
[13:14] {Threei} now?
[13:14] {Threei} they weren't priority 6 months ago? or we got deficit under control so we can focus on jobs?
[13:14] {nemo} yeah, so they'll put the grandkids in more debt to pay for makework today
[13:15] {Threei} GLD
[13:15] {Les} yeh i think the smarter pundits understood the baloney headlines: Obama can't fix deficit and jobs at same time
[13:15] {Threei} pulling back into 108 support
[13:16] {Threei} - Chinese sanctions threat against US companies involved in the arms sales in Taiwan are not warranted
[13:16] {Threei} *** Reminder: On 01/29 Obama administration would notify the congress of proposed $6B sales of arms to Taiwan which would include helicopters and missile defense technology. On 01/30 it was reported that China would consider imposing sanctions on US firms that partake in arms sales to Taiwan
[13:18] {Threei} Long Setup: GLD .15 break
[13:18] {Threei} stop under 108
[13:20] {Threei} US) NY Atty General Cuomo scheduled to announce a domestic agreement on banking fees at approx 14:00ET
[13:20] {Threei} GE Exec: Seeking acquisitions in the smart grid segment; transmission division could seek to increase R&D spending (related ITRI GRID ACPW CPST FCEL PLUG BGC CHP CNP TLVT AIRN BCON )
[13:21] {Threei} (CH) IMF's Blanchard: China must raise domestic consumption
[13:22] {Threei} what a weird directive
[13:22] {nemo} yeah
[13:22] {Threei} "you guys start eating more!"
[13:22] {nemo} no, that would make food more expensive
[13:23] {Threei} ok... watch more TV?
[13:23] {nemo} o.k.
[13:23] {nemo} but that will make tv's more expensive
[13:23] {Threei} -China should allow for the CNY to appreciate and slow down external demand
[13:23] {nemo} whatever they consume does nothing for us
[13:24] {Threei} let's start tightening GLD
[13:24] {Threei} stop to .05
[13:24] {Threei} under .10 now
[13:25] {Threei} offer 1/2 at 1:1
[13:25] {Threei} scalpers just get out
[13:27] {Threei} offer seond half above .40
[13:28] {Les} ERJ 1:1
[13:28] {Threei} trail stop to under b/e only after .30 break and spike
[13:29] {Threei} yeah, took its sweet time
[13:29] {Threei} but finally worked
[13:34] {strider} Gone for awhile....might be back before the close. See ya.
[13:34] {nemo} wfc is gradually losing altitude down to support...look at 5 minute chart
[13:36] {nemo} you like x short vad?
[13:36] {nemo} .89 stop .97?
[13:36] {Threei} stop above 47
[13:36] {nemo} I figure the bb 13 period average
[13:37] {nemo} if it holds above that, not weak enough
[13:37] {Threei} yeah but it's a very weird place stop
[13:37] {nemo} who you talking too?
[13:37] {Threei} with 47 being so cvlose, no one will pay attention to .97 as having any importance
[13:37] {nemo} o.k., nobody takes me seriously
[13:38] {Les} SLW might fall through 50 ma support. .80 b/d with .90 stop?
[13:39] {Threei} late
[13:39] {Threei} but it's worth waiting for a bounce anyway
[13:39] {nemo} come on give me 1:1
[13:39] {Les} ok
[13:39] {Threei} nemo, see how .97 didn't hold but 47 did?
[13:39] {nemo} ype
[13:40] {nemo} yes, ty
[13:40] {Threei} formally, you are right,
[13:40] {nemo} market should listen to me though
[13:40] {Threei} that BB did create a resistance,
[13:40] {Threei} but when it's so close to even numbers
[13:40] {nemo} somewhere else it might be valid then
[13:40] {Threei} noone considers it real resistance
[13:41] {Threei} yes, look at it this way:
[13:41] {Threei} it's a bit of a jumpy stock anyway,
[13:41] {Threei} so you can't be this precise on it,
[13:41] {Threei} 2-3 cents pon it is kind of given slippage
[13:41] {Threei} now, even numbers create kind of reinforcement when they coincide with this kind of supoport or resistance
[13:42] {Threei} dictated by BBs
[13:42] {Threei} and when they are just 2-3 cents away, they will usually take prevalence
[13:42] {nemo} yes, so price level and bb create stronger support/resistance
[13:42] {Threei} simply because they are easier to perceive
[13:43] {Threei} BB or any other indicator, after all, does notthing but reflecvts certain patterns of perception
[13:43] {Threei} and it's much easier for us to pereceive 47 as resistance than 46.97
[13:44] {nemo} .90 creating quite the resistance I guess that period form 1 to 1:18 helps too
[13:44] {nemo} oh now we have an H&S
[13:45] {nemo} only .01 from 1:2 should I move the stop to .80
[13:46] {Les} wfc .76 b/d?
[13:47] {nemo} 1:2
[13:47] {nemo} sop is now .80
[13:47] {nemo} or,out
[13:47] {nemo} bastid
[13:47] {nemo} I'm probably going to regret not making the stop the BB ma
[13:51] {nemo} well, I guess I don't regret it
[13:55] {Threei} amazingly, GM still has the most market share in US
[13:55] {Threei} 19.8% vs Toyota 17+
[13:57] {Threei} ese, look dcc please
[13:57] {Les} s wfc .74
[14:02] {ese} gone for day....see ya tomorrow
[14:03] {i2romantis} take care ese
[14:03] {fernp} bye ese
[14:03] {Les} ciao
[14:06] {Threei} OPTT intrigues me
[14:09] {Les} nice breakout triangle forming on OPTT
[14:10] {Threei} look at daily also
[14:10] {Les} hmm support area
[14:11] {nemo} x is playing around support 200 ma and pivot support in the .60-.65 area
[14:13] {Les} wfc approaching lod b/d
[14:13] {Les} half out .58
[14:14] {i2romantis} gj les
[14:14] {Les} ta
[14:17] {Les} all out .60. FAS bounce time. I've the impression that market is being moved by financials...
[14:18] {nemo} or natural bounce from oversold
[14:18] {Threei} I'd say finnies and commodities
[14:18] {Les} yeh. I've screwed up BRK.B so I'll take the cash
[14:20] {nemo} amzn at vwap, breaks through on volume will probably go a bit, other wise, fading here might be good
[14:22] {Threei} OPTT honetly trying
[14:27] {Les} BAC might be good for a type 1 if FAS resumes downtrend. WFC needs consolidatoin
[14:34] {Threei} Market Internals update at 2:00pmET
[14:34] {Threei} - NYSE volume 560M shares, about 11% below its three-month average; advancers lead decliners by 3.7:1.
[14:34] {Threei} - NASDAQ volume 1.46B shares, about 9% above its three-month average; advancers lead decliners by 1.6:1.
[14:34] {Threei} - VIX index -7% to just under 23.00
[14:47] {dino} .
[14:48] {Threei} volume is about half of Friday's on SPY
[14:48] {nemo} low volume rally...not especially healthy
[14:48] {Threei} no
[14:49] {dino} snda out .95, +.45 all dayer
[14:49] {nemo} if we get "long covering" into the close, that will confirm
[14:49] {dino} only thing is nemo, that has been the pattern since spring
[14:49] {nemo} what?
[14:50] {dino} low vol. rally
[14:51] {fernp} gotta go. good day here. one stop and six 1:1 ty Vad for your patience with me :-)
[14:51] {dino} cya
[14:51] {Threei} take care fern, good job
[14:51] {fernp} good evening everybody. see you all tomorrow
[14:51] {nemo} not sure about that Dino...volumes were much bigger when everyone thought it was the end of the world, so I'm not sure that period isn't an anomoly
[14:51] {Threei} npot sure how my patience comes in play
[14:51] {Threei} but why not
[14:57] {nemo} fcx 3rd attempt at HOD
[14:57] {Threei} and a little C&H
[14:58] {nemo} not liking T&S though
[14:58] {Threei} why?
[14:58] {Threei} very fine T&S
[14:58] {Threei} green, red
[14:59] {nemo} I look away, silly me....I saw the orders all of a sudden come in at .15
[14:59] {Threei} almost no white
[14:59] {nemo} then you had a bunch at .14 but they dropped
[14:59] {nemo} somebody's playing games
[14:59] {Threei} I don't think you can get any meaningful information from T&S on FCX
[14:59] {nemo} well
[15:01] {nemo} I saw thousands of orders come in at .15
[15:02] {nemo} they dropped and the stock popped
[15:02] {nemo} then I saw 1000s come in at .14
[15:02] {nemo} they dropped without the buying
[15:02] {nemo} there was some gamesmanship right there...I don't understand it completely, but I saw it
[15:03] {nemo} then again, my perception can be a co-conspirator in deception :)
[15:16] {Threei} ok, let's see if we get selloff on the last hour
[15:17] {Threei} Short Setup: GLD .25 break if stays under .35
[15:18] {Threei} Short Setup: FCX .70
[15:18] {Threei} if stays under .85
[15:18] {nemo} when gold invalidated fcx invalidated
[15:18] {Threei} both are kind of "keep an eye on if invalidated by just little"
[15:18] {nemo} shoulda' actually gone long on the lead
[15:26] {Threei} spike
[15:26] {Threei} no selloff
[15:27] {nemo} figures, just the opposite of what we were looking for
[15:32] {patience} i'm thinking it is an 'up' week
[15:32] {nemo} Well, at least relief from oversold last week
[15:32] {nemo} Of course, with that budget Obama just sent up, we're talking QEII coming
[15:33] {larisa} lol, just saw that, vad thinks burger flippers make $25 per hour in US :)
[15:33] {nemo} minimum wage
[15:34] {larisa} right
[15:34] {Threei} do I?
[15:34] {larisa} you do :) just saw your comment at 12
[15:34] {nemo} yeah you were talking about taking your $25 profit on a stock
[15:34] {nemo} then Les said that's what it used to take him an hour of work to make
[15:34] {Threei} I meant for the day
[15:34] {larisa} oh
[15:34] {nemo} then you made a flippant comment about burger flippers
[15:36] {Threei} burger flippers shouldn't take it personal - I simply make flippant comments, and whoever happen to pass by at the moment finds himself on the other end of it
[15:36] {Les} egg on their face...
06[15:37] * strider slaps Threei around a bit with a large Big Mac
[15:37] {Les} hmmm bacon double cheese burger...
[15:37] {larisa} I started my engineering career in US with 26 per hour. Was happy with that :)
[15:37] {dino} burger on the face
[15:38] {Threei} fairly decent wage in Canada
[15:38] {Threei} wat, is it tpoo low for US?
[15:39] {larisa} it is on low end of professional career
[15:40] {larisa} LVS does not stop
[15:42] {dino} leap
[15:42] {Threei} can't believe we got 16.05 entry invalidated on LVS
[15:44] {larisa} AMZN bounced $5 of bottom. wild today
[15:44] {nemo} candidate for overnight lvs finishing near high?
[15:44] {Threei} nah
[15:44] {dino} sm s leap .74
[15:44] {nemo} why not?
[15:45] {Threei} what is it about the markert or this name that makes you think we get a gap tomorrow?
[15:45] {Threei} there is no late day news not digested by market yet,
[15:45] {nemo} finishing near the high on volume, so far
[15:46] {Threei} no 52 week highs that would hit a lot of eod scannerrs
[15:46] {nemo} market was way oversold, and probably is still oversold
[15:46] {Threei} the rest is 50/50
[15:46] {Threei} yes
[15:46] {Threei} how do you tell 1 day bounce from trend reversal that sustains for a few days?
[15:47] {nemo} I'll take that as rhetorical...proceed please
[15:47] {Threei} no, that's actual point of decision making
[15:47] {Threei} we have no indocation of either
[15:48] {Threei} thus counting on gap is a coin toss
[15:48] {Threei} 50/50
[15:48] {nemo} o.k.
[15:48] {Threei} what I want to see for a gap is something that will sure attract atention of the crowd coming home from dat job,
[15:48] {Threei} seeing something they want to own next morning
[15:49] {Threei} and submitting their "buy on open" orders
[15:49] {nemo} didn't wynn report revenues way up?
[15:49] {nemo} [09:13] {&Threei} WYNN Reportedly Jan Macau casino revenue +63.3% y/y - Portuguese media (related LVS MPEL MGM )
[15:50] {Threei} early morning news
[15:50] {Threei} [15:45] {Threei} there is no late day news not digested by market yet,
[15:50] {Threei} [15:45] {nemo} finishing near the high on volume, so far
[15:53] {nemo} like that
[15:57] {Les} ok. nighty night
[15:57] {Threei} thank you all
[15:57] {Threei} have a good evening, see you tomorrow
[15:57] {nemo} Lvs baby
[15:58] {dino} cov leap -.10
[15:59] {dino} nice finish, imo
[15:59] {larisa} bye all
[16:00] {dino} gn all, thx, decent day