Friday, February 5, 2010

Feb 05 2010

Beautiful strong finish to the week, with 4 trades working for nice gains including VXX for 50 cents in minutes; two stops for 10 and 7 cents, and then a few discretionary trades making the day almost stellar. Some of other trades were SYK short, X long, RIMM long.

Session Time: Fri Feb 05 00:00:00 2010

[08:10] {Threei} Procter & Gamble Co CEO: Consumer sentiment is getting better, but unevenly; more worried about the US now than ever before in his career
[08:10] {Threei} - US gov must provide more certainty for businesses
[08:10] {Threei} (US) Preview: Jan change in Nonfarm payrolls and change in manufacturing payrolls due at 08:30ET (13:30 GMT)
[08:10] {Threei} - Change in Nonfarm Payroll: +15K expected versus -85K prior (Note the range of estimate are from -100K to +100K).
[08:10] {Threei} - Change in Manufacturing Payrolls: -20Ke expected versus -27K prior (Note the range of estimate are from -30K to -10K). The last positive reading in manufacturing came back in Nov 2007.
[08:11] {fernp} Good morning everybody
[08:13] {Les} morning fern
[08:13] {Threei} fern, les :)
[08:13] {Les} or afternoon where we are
[08:13] {fernp} Les :-)
[08:13] {fernp} yes, good afternoon here
[08:14] {Les} hey vad
[08:16] {Threei} take a look at X daily
[08:17] {Threei} lsoing major support
[08:17] {Les} yep
[08:18] {Les} got a large stop X, burnt me a few times. I be careful with the setups on it
[08:18] {Threei} this kind is much better play on bounces than on breakdowns, iunless it forms very narrow range
[08:19] {Les} ok
[08:19] {Les} aa in same boat
[08:19] {Threei} and JOYG
[08:19] {Threei} AA is more safe
[08:19] {Les} joyg is ugly
[08:20] {Les} the abyss awaits
[08:20] {Threei} {JOYG} I want second opinion
[08:20] {Les} lol
[08:26] {Threei} (US) Insight on Jan Payrolls
[08:26] {Threei} ***Census affect on Payrolls: Starting with today's data, payroll numbers will be skewed higher by the Federal government hiring thousands of census workers. Speculation is the the Jan nonfarm would be boosted by 20K from census hirings. Early last year, the Obama Administration announced that as part of the stimulus package, 1.4M workers would be hired for the 2010 Census. By comparison in the first five months of 1990 and 2000, the census bureau hired 330K and 515K workers, respectively, and workers rolled off the payrolls over the next few months.
[08:27] {Threei} According to analysts, at the peak of census hiring this year, payrolls could be bolstered by up to 700K m/m, which could temporarily push down the unemployment rate by a full percentage point.
[08:28] {Threei} ***Annual Benchmark Revisions: The Bureau of Labor Statistics (BLS) will simultaneously release its annual benchmark revisions for payrolls. There is much speculation that the BLS could announce substantial downward revisions for the first three months of 2009 when layoffs were most severe. A preliminary estimate by the BLS issued last October forecasted benchmark revisions would cut the payroll numbers by 824K as of the end of March. Additional revisions for the last three quarters of 2009 could add to this total.
[08:30] {Threei} - Prior Nonfarm Payrolls revised from -84K to -150K
[08:30] {Threei} - Prior Manufacturing Payrolls revised from -27K to -23K
[08:30] {Threei} US) JAN UNEMPLOYMENT RATE: 9.7% V 10.0%E
[08:32] {Threei} Whisper numbers had been +20K census effect jobs
[08:32] {Threei} - Normalized Nonfarm payrolls -29K v +15Ke
[08:32] {Threei} (US) Benchmark revision 902K v 824Ke
[08:34] {Les} up down up down
[08:41] {Les} Ford catching the brake contagion
[08:41] {Les} recall of 15k hybrids for software fix
[08:42] {Threei} Ford Motor Co To update software for brake systems on Milan and Fusion hybrids; some drivers may "perceive the condition as loss of brakes"
[08:42] {Threei} - Ford is announcing a customer satisfaction program to update the software of the regenerative brake system of some 2010-model Ford Fusion Hybrids and Mercury Milan Hybrids.
[08:42] {Threei} - We have received reports that some drivers have experienced a different brake feel when the hybrid's unique regenerative brakes switch to conventional hydraulic braking. While the vehicles maintain full braking capability, customers may initially perceive the condition as loss of brakes.
[08:42] {Threei} very carefully worded
[08:44] {Les} ARG being bought out for approx. $60 a share
[08:44] {Threei} I remember some obscure article by some engineer in auto industry, a few years ago
[08:44] {Les} it $62 premarket
[08:44] {Les} can we make money off this difference?
[08:44] {Threei} not really
[08:45] {Les} k
[08:45] {Threei} saying that move to hybrids was likely to introduce some new and unforeseen problems with cars
[08:45] {Threei} listing most vulnerable parts
[08:45] {Threei} brakes were number 1
[08:46] {Les} I assume because of regenerative braking
[08:46] {Les} perhaps the plug in idea presently being pushed by TM is to fix this issue?
[08:47] {Threei} no idea, I am no auto engineer
[08:47] {Threei} on ARG
[08:47] {Threei} it's not being bought, it's been offered that price
[08:48] {Les} ok
[08:48] {Threei} its reaction on the offer is whole other issue
[08:48] {Threei} Airgas, Inc. Confirms receipt of unsolicited proposal from Air Products; Board appears to continue to believe offer undervalues ARG
[08:48] {Threei} - Confirmed that it has received an unsolicited proposal from Air Products at $60/shr. Airgas' board will review the proposal with its financial and legal advisors. Airgas shareholders are advised to take no action at this time.
[08:48] {Threei} - Airgas' board, after consultation with its financial and legal advisors, unanimously determined that Air Products' proposals were not in the best interests of Airgas or its shareholders, as they grossly undervalued Airgas. In responding to the proposal received in December, the Board also noted that a significant portion of the consideration was in the form of Air Products stock, which has historically underperformed Airgas stock.
[08:49] {Les} I love this game
[08:49] {Threei} so the situation is: 60 offer is on the table, company thinks it's worth more, thus the question is wherther market agrees
[08:49] {Threei} which takes us back to normal chart reading
[08:50] {Les} so traders could take it higher if they think to benefit?
[08:50] {Threei} where this 60-82 spread is nothing more than atention-getter
[08:50] {Threei} sure
[08:50] {Threei} especially if it appears that there are other suitors
[08:50] {Threei} and bidding war may ensue
[08:50] {Threei} 60-62 spread, sorry
[09:06] {dino} gm all
[09:06] {Threei} dino :)
[09:06] {larisa} gm :)
[09:06] {Les} hey dino
[09:06] {Threei} larisa :)
[09:06] {Les} larisa
[09:07] {larisa} vad, les :)
[09:11] {Les} c&h ARG?
[09:11] {Les} long ARG .44
[09:11] {Threei} just JBE
[09:12] {Les} stop .35
[09:14] {Threei} how about that
[09:14] {Les} we aiming for 63 ARG?
[09:14] {Threei} we? I wouldn't touch it with 10 ft pole
[09:14] {Les} :)
[09:15] {Les} out +.20
[09:18] {dino} vad see amsc?
[09:19] {Les} :( ARG
[09:19] {Threei} yeah
[09:19] {dino} hmmm
[09:19] {dino} tm up
[09:19] {Threei} and no news again
[09:19] {Threei} (US) SEC's Schapiro: SEC to consider proposals to restrict short selling in coming weeks
[09:20] {Les} aaaaaaaargh!
[09:21] {dino} why oh why
[09:28] {dino} lol, the reason the household rate survey dropped to 9.7% was that the total population estimate was increased in january. under the old estimate, the rate would be 10.6%
[09:28] {dino} politics as usual
[09:28] {Threei} yup, birth/death revision
[09:29] {Threei} AMSC all the way back
[09:31] {fernp} FITB .40 break, Vad?
[09:32] {Threei} I'd like to skip early breaks
[09:32] {Threei} they didn't work too well last few days
[09:32] {fernp} good idea :-)
[09:32] {Threei} don't want to start with a hole and work to fill it
[09:34] {Les} cat
[09:35] {Threei} RIMM
[09:35] {Threei} watching for bounce
[09:36] {Threei} sheesh
[09:36] {Threei} started typing .40 break long, lol
[09:36] {Threei} wait for more dump now
[09:37] {Threei} should be entry under .30
[09:37] {Threei} closer to .20 even
[09:37] {Threei} here we go
[09:38] {billyc} gm all happy Friday
[09:38] {Threei} .10 break long
[09:38] {Threei} stop under 66
[09:38] {fernp} gm billy
[09:38] {Threei} billy :)
[09:38] {Threei} 1:1
[09:39] {Threei} 1:2, I am out
[09:41] {Threei} Long Setup: X .50 half lot
[09:41] {Threei} stop under .30
[09:41] {Threei} 1:1
[09:42] {Threei} 1:2
[09:42] {dino} amsc sm l .25
[09:43] {dino} .26
[09:46] {Les} had to give IB a reboot. unresponsive. missed some good trades
[09:46] {Threei} aww
[09:46] {Threei} X was a good one
[09:46] {Threei} easy to read and execute
[09:46] {billyc} what is aww
[09:47] {Threei} just "aww" as in "argh" or "ouch" :)
[09:47] {Les} yeh I tried to catch CAT on the way down
[09:47] {dino} ads sm l .40
[09:47] {Threei} btw, look at classic double bottom, second one is within BBs while first one pierced lower envelope, with volume dropping on second
[09:47] {Threei} my favorite reversal setup
[09:49] {Threei} fern, see FITB?
[09:49] {Threei} happy we skipped that
[09:49] {Les} sorry Vad, we talking X?
[09:49] {Threei} yes
[09:50] {Les} ok 5 minute db
[09:50] {Les} thanks got it
[09:51] {dino} amsc stopped
[09:52] {Threei} getting ionterested in X again
[09:52] {Threei} no clear setup yet
[09:54] {Threei} struggling with desire to reverse and short it
[09:54] {Les} s x .21
[09:54] {Threei} maybe I shouldn't fight it
[09:55] {Threei} .30 was better trigger if short Les... chasing
[09:55] {Threei} it works but
[09:55] {Les} half out .10
[09:56] {Les} all out .02
[09:56] {Threei} wtg
[09:56] {Threei} on decision to short and exit mostly
[09:56] {Threei} entry was a bit off
[09:57] {Les} y it was. but pivot point overhead suggested strong reversal not likely so I took it
[09:57] {Threei} it's valid, my only point of contention is:
[09:57] {Threei} it's a volatile stock, entries like this increase risk
[09:58] {Threei} easy to get shaken out on "accidental" move
[09:58] {Les} sure
[09:58] {Les} X has done that to me before
[09:59] {Les} payback for lousy day yesterday
[09:59] {Threei} Long Setup: VXX .22 half lot
[10:00] {fernp} stop?
[10:00] {Threei} .10 for scalp, 32 for day trade
[10:00] {Threei} this is play for market drop
[10:00] {dino} fdx sm l .48
[10:01] {Threei} market breaks down, VXX can go 40 cents in a hurry
[10:02] {Threei} if SPY loses 106, just watch what VXX does
[10:02] {Threei} tries to go even as SPY upticks
[10:03] {Threei} 1:1 for scalpers
[10:03] {Threei} IMO, more to come
[10:03] {Les} i've added to position as daytrade
[10:04] {Threei} SPY under 106
[10:04] {Threei} half out
[10:05] {Threei} 1:1 for daytraders
[10:05] {Les} ok half out
[10:06] {Threei} 1:2, 1/4 more out
[10:06] {Threei} [10:01] {Threei} market breaks down, VXX can go 40 cents in a hurry
[10:06] {Les} all out
[10:06] {Les} I'm finished for the day
[10:06] {Threei} exactly 40 cents here, lol
[10:06] {dino} fdx to flat
[10:07] {dino} out
[10:08] {Threei} out last part VXX
[10:08] {Threei} +.50
[10:09] {dino} gj
[10:09] {billyc} Thanks
[10:09] {Threei} welcome guys
[10:10] {Les} yeh thanks Vad. big change from yesterday
[10:10] {Threei} nice start to the day
[10:10] {Threei} for ZLes it's finish even, lol
[10:10] {Threei} let's all be Les and go home?
[10:11] {Les} if trend continues nicely won't be afraid to ask for more
[10:11] {Les} don't want a rotten bounce to put me out of profits
[10:11] {Threei} missed X bounce...
[10:11] {dino} darn chickened out fdx
[10:11] {Threei} was very tempted, looking at this oiverextended series of red bars on 1 min
[10:12] {Threei} but there was no clear setup, and discipline tramped conviction
[10:12] {Threei} trumped?
[10:12] {Les} trampled?
[10:14] {dino} snda gap fill nov
[10:14] {Les} finnies looking weak
[10:17] {dino} snda sm l .15
[10:17] {fernp} MET, Vad, breakdown?
[10:18] {Threei} probably
[10:18] {Threei} I just want to find an entry into bounce
[10:18] {Threei} rather than break itself
[10:18] {Threei} closest resistance is .80 - .85, right?
[10:18] {fernp} yes
[10:19] {Threei} let's see if we can find very low risk entry
[10:20] {Threei} ok
[10:20] {Threei} .60 breakdown if stays under .85
[10:21] {Threei} .80 break, sorry
[10:22] {dino} crm sm l .01
[10:24] {Threei} out
[10:24] {fernp} yeah
[10:24] {Threei} 6 cents riisk vs 16
[10:24] {fernp} true
[10:30] {Threei} New data released this morning shows that the American people overwhelmingly reject the basics of Keynesian economics. Only 11% believe more deficit spending is needed to spur the economy while 70% say deficit cutting is the answer.
[10:30] {Les} stupid hicks
[10:30] {Les} they need to be disciplined some more
[10:30] {Threei} yeah, don't they know spending all you can and can not is the answer to everything
[10:31] {Les} wfc lod
[10:32] {Threei} Market Internals update at 10:30amET
[10:32] {Threei} - NYSE volume 315M shares, about 25% above its three-month average; decliners lead advancers by 1.7:1.
[10:32] {Threei} - NASDAQ volume 645M shares, about 30% above its three-month average; decliners lead advancers by 1.4:1.
[10:32] {Threei} - VIX index +0.3% to just over 26.00
[10:34] {Les} tm returns to hod
[10:34] {Threei} WFC is tempting short on this bounce
[10:34] {Threei} .40 - .56 resistance
[10:34] {Les} fas up
[10:35] {Les} market wants up
[10:35] {Threei} .40 -.45, sdprry
[10:37] {dino} out crm .66, +.65
[10:37] {Threei} wtg
[10:37] {Les} sweet
[10:37] {dino} ty
[10:38] {ese} morning sorry i'm late..........whats up
[10:38] {Threei} ese :)
[10:38] {Les} big bucks ese, big bucks
[10:38] {Threei} we are... nice morning with good size wins
[10:38] {ese} cool.....just as it should be.....gj all
[10:39] {Les} s TM .99 aggressive short
[10:41] {Les} and stopped. shoulda quit while i was ahead
[10:42] {Threei} don't do these impulsive trades having no setups
[10:42] {Threei} espwcially on volatile stocks
[10:42] {Threei} sometimes thwey have their place on what is called "risk based seytups"
[10:42] {Threei} but it's never the case with volatile ones
[10:42] {Threei} look how being picky works for us
[10:43] {Threei} why ruin it out of pure desire to trade something?
[10:44] {Les} ok
[10:47] {Threei} Long Setup: TM .40 break half lot
[10:47] {Threei} if holding .20
[10:48] {dino} out snda .28, +1.13 on spike
[10:48] {Les} wow
[10:48] {dino} lucky
[10:48] {Les} always
[10:49] {Threei} wtg dino
[10:49] {Threei} killing it today
[10:51] {dino} ty
[10:52] {dino} fsys sm l .50
[10:55] {Les} syk Vad?
[10:56] {Threei} contradiction between charts
[10:56] {Threei} intraday is long, daily is short
[10:56] {Threei} I am staying away
[10:57] {Les} ok
[11:01] {larisa} I do not understand :) can you elaborate vad how or when or of do you connect intraday and daily in your mind while choosing short time trade? Cycles are so different on those.
[11:01] {dino} fsys stopped -.30
[11:02] {Threei} intraday chart is consolidation at the high
[11:02] {Threei} which is rather long for me.
[11:02] {Threei} Daily however shows a stock bouncing from today's lows right into yesterday's low
[11:03] {Threei} where it meets strong resistance
[11:03] {larisa} oh, so you look at 2 last bars on daily? I see, it makes sense
[11:03] {Threei} which is rather a great short entry pint
[11:03] {Threei} point
[11:04] {ese} hmmmmmm would have liked to have caught that brcm move
[11:05] {Threei} not last two bvars only, Larisa, 'one more thing is general trend
[11:06] {Threei} and in my view it's in downtrend, so the bounce into resistance again suggests short
[11:10] {ese} l brcm .50
[11:12] {larisa} people that can trade off several timeframes always fascinate me :) those 3D view systems confuse the heck out of me :)
[11:12] {Les} I like the logic of it though
[11:13] {larisa} yeah wait for indicators on several timeframes to line up, then take the trade..
[11:13] {Threei} I think you are overcomplicating it Larisa
[11:13] {larisa} especially if you scalp. but it is just me
[11:13] {Threei} look at it this way
[11:14] {Threei} daily shows stock consolidating above major support for a few days,
[11:14] {Threei} intraday shows DBI at this same level
[11:14] {Threei} timeframes coincide and give powerful short signal on the break, right?
[11:15] {Threei} in the case with SYK, they conflict
[11:15] {Threei} I like first kind of situations,
[11:15] {Threei} that's why I run for instance 2 days break scans along with JBE/DBI
[11:16] {Threei} second kind of situations maske the trade less convincing
[11:16] {Threei} imagine third kind:
[11:16] {Threei} stock spikes sharply into yesterday's low,
[11:16] {Threei} makes dounble top there,
[11:16] {Threei} sets up short.
[11:16] {Threei} To me it will be again powerful signal
[11:16] {Threei} since both time frames show the same direction
[11:17] {Threei} makes sense?
[11:19] {larisa} major support resistance levels on daily do work , it was not actually my question :) it sounded like you validate trend on daily with trend on intraday. Wanted to know how you do that
[11:20] {Threei} did I answer that?
[11:21] {larisa} yes :)
[11:21] {Threei} Toyota Motor Corp Announces global quality task force
[11:21] {Threei} - Task Force to:
[11:21] {Threei} 1) Improve Quality Inspection Process - Toyota will once again inspect every process, while verifying the causes that led to the recalls, including quality in design, production, sales and service.
[11:21] {Threei} 2) Enhance Customer Research - Toyota will enhance the customer information research offices in each region to collect information faster.
[11:21] {Threei} 3) Establish an "Automotive Center of Quality Excellence" in key regions to further develop quality management professionals
[11:21] {Threei} 4) Support from Outside Experts - Toyota will seek confirmation and evaluation from outside expertsin line with the industry's best practicesof its newly improved quality control management, based on the above improvements.
[11:21] {Threei} 5) Increased Communication - In addition, Toyota will work to increase the frequency of communication with regional authorities.
[11:21] {Threei} 6) Improve regional autonomy - To provide customers with satisfying products in each and every region, Toyota has long promoted the autonomy of its regional subsidiaries. We intend to further enhance this autonomy, listen carefully to each and every customer and improve quality.
[11:28] {ese} out brcm.72 +.22 5k
[11:29] {Threei} beauty
[11:29] {Threei} wtg
[11:29] {ese} i'd like to concur with the big bucks sinario you all were talking about earlier
[11:29] {larisa} lol
[11:29] {Threei} I'd say, you did so with a bang
[11:30] {ese} tks
[11:30] {Threei} Short Setup: SYK 51 break
[11:31] {Threei} .15 is invalidation for now,
[11:31] {Threei} if sets up not going over .10 it can be used as a stop level
[11:32] {Les} hey that was my call
[11:40] {Threei} 1:1 on Le's call
[11:41] {Les} well I have to concede I only thought of it after getting stopped out at the top. I liked your logic but didn't apply it strategically
[11:42] {Threei} let me fix about 25 major world worries before question of call authorships enters my list of priorites :)
[11:43] {Les} :P
[11:46] {dino} fast selling
[11:53] {Threei} (IA) US Official: Major powers today discussed potential policies towards Iran; including pressure and diplomacy (related GLD XAU/USD )
[12:01] {Threei} Long Setup: GILD 46 break if stays above .90
[12:02] {Threei} Market Internals update at 12:00pmET
[12:02] {Threei} - NYSE volume 560M shares, about 27% above its three-month average; decliners lead advancers by 2.9:1.
[12:02] {Threei} - NASDAQ volume 1.18B shares, about 27% above its three-month average; decliners lead advancers by 1.7:1.
[12:02] {Threei} - VIX index +1.25% to just under 26.50
[12:06] {nemo} AWIAV?
[12:06] {fernp} GILD
[12:06] {nemo} where
[12:06] {Threei} 46
[12:06] {fernp} 46 break
[12:07] {Threei} but refrain
[12:07] {nemo} ams break .20 stop under .05
[12:07] {fernp} .89 stop
[12:07] {nemo} amsc
[12:07] {Threei} we have 4 wins under out belt, solid buffer
[12:07] {Threei} you don't
[12:07] {nemo} amsc
[12:07] {nemo} just got back
[12:10] {Threei} also highlights of the day were fight with Les over copyright for the call (he won) and with Larisa over my trading approach making any sense (she won)
[12:11] {Les} oh you're in a provocative mood today I see
[12:11] {Threei} today?
[12:11] {Les} kill anything Nemo?
[12:12] {Threei} it's simple Les... trading is fairly lonely profession - aside of seminars where I get my chance to converse with actual people, I don't have a lot of communication.. so I can't afford to miss any chance to have fun in online forem
[12:13] {Threei} fun of course as I see it, which is admittedly not a very common form
[12:13] {nemo} anyone would be more appropos
[12:13] {Les} oh good I can see we are going to get on like a house on fire
[12:13] {Les} I'm surrounded by bored housewives and french speaking village idiots
[12:14] {nemo} bored housewives?
[12:14] {Les} thus I have little output for my mischievous nature
[12:14] {Threei} no go GILD
[12:14] {fernp} stopped
[12:14] {nemo} so 4 for 5
[12:14] {Threei} weird one...
[12:14] {nemo} lunchtime
[12:15] {Threei} came to my attention a few days ago when it was very strong while market slipped, look at daily
[12:15] {nemo} amsc doing exact same thing
[12:15] {nemo} can you short tm today
[12:15] {Threei} ever since it slipped, even whehn market was gpoing up
[12:15] {nemo} strong volume
[12:15] {Threei} yes
[12:16] {Threei} TM is shortable again
[12:16] {Threei} I guess they just run out of inventory briefly yesterday
[12:17] {Threei} 4 fpor 6 actually, we had one more stop for whole 7 cents
[12:28] {dino} hedge fun blow-up rumors; blue gold capital, 1.5 b, oil bets gone wrong, liquidating
[12:28] {Threei} Earlier drop in crude oil partially attributed to report circulating that $1.5B commodity hedge fund may be in trouble
[12:28] {Threei} - Chatter seems to be eminating from a media report this morning that Blue Gold Capital has lost 11% so far this year due to the decline in crude prices.
[12:32] {Threei} AMSC band is really oiverstretched on daily
[12:32] {Threei} when it finally snaps back, shoud be multipoint move in a hurry
[12:33] {nemo} volume low today
[12:33] {Threei} yes, was decreasing yesterday, about half of the first two days of selling
[12:34] {Threei} - Follow up 12:30: Reportedly BlueGold Capital denies rumors they have suffered big losses.
[12:40] {Threei} (US) ECB's Trichet: ECB will NOT hold any special meeting this weekend
[12:40] {Threei} and I did NOT have sex with that woman
[12:40] {fernp} PFG, Vad?
[12:41] {Threei} 50/50 fern
[12:41] {fernp} ok
[12:43] {Threei} - Denies rumors that circulated earlier that the ECB would convene a special meeting to discuss debt issues facing certain EU members like Greece, Portugal, and Spain.
[12:43] {Threei} (UK) UK Fin Min Darling: BoE decision to pause QE is "absolutely correct" - Canadian TV interview (related GBP/EUR GBP/USD GBP/JPY GILTS )
[12:44] {Threei} Fed's Bernanke now scheduled to testify Feb 10 with regards to the unwinding of liquidity measures (related TLT SHY )
[12:48] {Threei} Larisa... nothing happens... may I?
[12:48] {Threei} humor-free joke?
[12:48] {Threei} please?
[12:48] {larisa} is it tuesday?
[12:48] {Threei} I think so
[12:49] {larisa} go ahead then
[12:49] {Threei} guess who is on TV!
[12:49] {nemo} Kirsten Dunst
[12:50] {fernp} AMR strong
[12:50] {Threei} never liked a choice of her for Spiderman
[12:52] {Threei} I love the chart fern... not so much the range
[12:52] {Threei} a bit too narrow
[12:53] {Threei} (US) President Obama: jobs data today suggest US is climbing out of recession
[12:53] {Threei} - Says there has been an encouraging improvement, which is "cause for hope"
[12:53] {Threei} - Expects unemployment numbers to fluctuate
[12:53] {Threei} - Comments on small business loans
[12:53] {fernp} PFG 1:1
[12:53] {Threei} wtg
[12:54] {Threei} jobs data today suggest US is climbing out of recession?
[12:54] {Threei} how?
[12:54] {Threei} by hiring census workers?
[12:55] {fernp} AMR holding on highs
[12:55] {nemo} Did anybody get RIMM when I left yesterday? Ended up going down .50 cents
[12:57] {Threei} no... we were too overwhelmed by grief caused by your leave
[12:57] {nemo} glad my feet are off the ground
[12:58] {Threei} I also was too busy trying to provoke ZLes to slap you when you return
[13:00] {Threei} NYMEX: Oil market operating as usual (related CME USO )
[13:00] {Threei} feels like "move on, nothing to see here"
[13:01] {nemo} $ up strong, economies look sick, why would it go up?
[13:01] {ese} most certainly a question i can't answer
[13:01] {Threei} there were all kinds of tumors earlier
[13:02] {nemo} try that again
[13:02] {Threei} about USO having impact on prices, about hedge fund unwinding
[13:02] {Threei} lol
[13:02] {Threei} rumors
[13:02] {ese} "its notta tumma" which celeb?
[13:02] {nemo} Ahhnold
[13:02] {nemo} Kindergarten Cop
[13:03] {ese} corrrrrrrrrrrrect!
[13:03] {nemo} FCX forming downward wege from yesterday
[13:03] {nemo} wedge
[13:03] {ese} these are just not my type of days.......
[13:04] {nemo} Who sang "These are the good old days"
[13:05] {nemo} ese?
[13:05] {ese} hmmm i know but i don't know
[13:05] {nemo} Carly Simon
[13:05] {ese} i wouldn't have quess her
[13:06] {nemo} for what product was the song used in a commercial?
[13:06] {ese} y a got me
[13:06] {nemo} fcx broke support
[13:06] {patience} .
[13:06] {nemo} Heinz ketchup
[13:07] {ese} lol
[13:07] {ese} go figure
[13:07] {nemo} kinda' like the ridiculousness of an actor being elected president
[13:07] {nemo} tm support .35
[13:08] {ese} thats a hmmmmmmmm certainly a point to ponder
[13:09] {Threei} Dell Inc US 9th Circuit Court of Appeals allows class action case against Dell to move forward
[13:09] {Threei} - Class action claims Dell sold defective notebook computers.
[13:09] {Threei} - Court rules that the district court wrongly granted Dell's motion to force arbitration proceedings.
[13:09] {nemo} looking at TM makes me feel like a mole thinking about popping his head up in a whack-a-mole game
[13:10] {Threei} too many developments
[13:10] {nemo} yeah, and support at .30
[13:10] {ese} lol
[13:10] {nemo} fcx woulda' been good though
[13:14] {nemo} TM too
[13:19] {dino} crm sm l .80
[13:24] {dino} stop is .48
[13:26] {ese} welllllllllll........ make$1k then off to the next job......"A Day in The Life"....ehhhhh....Beatles
[13:27] {ese} see ya monday
[13:27] {larisa} bye ese
[13:27] {Threei} take care ese
[13:27] {Threei} selling returns
[13:27] {Threei} and we are looking at another -200 day most likely
[13:27] {dino} cya es gj
[13:42] {Threei} ugh
[13:42] {Threei} VXX, for some reason hesitated for so long around .80 - .85, I decided to skip long call
[13:43] {Threei} market was dropping, but VXX didn't follow
[13:48] {dino} looking for 9770 dji, 1036 s/p
[13:53] {Threei} AMSC... where does the ridiculousness becomes too ridiculousZ?
[13:54] {nemo} well, you have a C&H
[13:57] {nemo} big bid .80 cat
[13:57] {nemo} amzn vwap .87
[13:57] {nemo} cat bid pulled fell
[13:59] {Threei} -165
[13:59] {nemo} my IQ
[14:00] {Threei} [13:27] {Threei} and we are looking at another -200 day most likely
[14:00] {dino} yeah
[14:00] {Threei} Market Internals update at 2:00pmET
[14:00] {Threei} - NYSE volume 835M shares, about 27% above its three-month average; decliners lead advancers by 6.7:1.
[14:00] {Threei} - NASDAQ volume 1.71B shares, about 27% above its three-month average; decliners lead advancers by 2.4:1.
[14:00] {Threei} - VIX index +8.5% to just under 28.50
[14:00] {nemo} yeah, don't figure longs are holding over the weekend
[14:01] {dino} since jan 19th highs; dji -8.3%; ndx -9.7%; s/p -9.2%. much more and new bear market takes over
[14:02] {nemo} look at UUP
[14:03] {dino} two day drop -5.4% s/p
[14:03] {Threei} this VXX pullback should give an entry somewhere
[14:03] {Threei} I don't believe selling is done for the day
[14:04] {Threei} it has smell of another wave of panic coming
[14:05] {dino} crm rinsed
[14:06] {nemo} amzn at 200
[14:06] {dino} cagc, jst, tm
[14:06] {dino} fcx
[14:07] {dino} intc
[14:07] {nemo} fcx just broke downtrend
[14:07] {nemo} 200 is at .40
[14:07] {nemo} .40 is vwap also
[14:08] {Les} out SYK +.55
[14:08] {Les} AWIAV?
[14:08] {Threei} no
06[14:08] * nemo slaps Les around a bit with a large coma inducing sheila slap
[14:09] {Les} you hit like a girl
[14:09] {nemo} hehehehe
[14:09] {dino} lol
[14:09] {nemo} that's all you need for Swiss Aussie's
[14:10] {dino} chk wants dec gap
[14:10] {nemo} fcx at support
[14:11] {nemo} 116 support for amzn
[14:11] {Les} first time I tried an ese trade
[14:11] {Les} let SYK run with a stop in place
[14:12] {Les} I like the way VAd thinks
[14:12] {Threei} thinks?
[14:12] {Threei} me?
[14:12] {Les} works
[14:12] {Threei} kidding?
[14:12] {Les} you know what i mean
[14:13] {Les} what was enlightening was how SYK respected the 200 as resistance
[14:13] {Les} you said yesterday
[14:13] {Les} MA's give indication whether stock can pass them or not
[14:14] {Les} SYK refused to pass the 200
[14:14] {Threei} or any other support or resistance, yes
[14:14] {Les} so I went out to dinner leaving a stop just above the 200
[14:15] {Les} and came home to a nice surprise
[14:15] {Les} I thank you for marrying up daily charts with intraday for decision making
[14:15] {Threei} what a difference systematically structured trading makes
[14:16] {Les} well I'm pretty tanked
[14:16] {Les} so I'll thank you all
[14:16] {Les} and see you monday
[14:16] {Les} ciao and ty
[14:16] {Threei} take care ZLes, have a good weekend
[14:19] {dino} cya
[14:26] {nemo} quite the run for fcx
[14:27] {Threei} VXX... time or not
[14:40] {dino} see that and missed it
[14:42] {dino} ioc wants gap
[14:43] {billyc} see you guys thanks for the calls have a great weekend
[14:46] {dino} cya bill
[14:46] {Threei} take care billy
[14:49] {nemo} well, that just took out some stops in amzn
[14:59] {Threei} Preview: Dec Consumer Credit due at 15:00ET
[14:59] {Threei} **consensus expectation: -$10.Be v -$17.5B prior
[14:59] {Threei} - Note: November was the 10th straight month of credit contraction
[15:00] {Threei} *(US) DEC CONSUMER CREDIT: -$1.7B V -$10BE- Prior revised from -$17.5B to -$21.8B
[15:01] {Threei} dino, look this:
[15:01] {Threei} SP) Spain Prime Minister Zapatero: Will defend the EURO
[15:01] {Threei} - Notes that all the EU countries support the Eurozone countries
[15:01] {Threei} is it end of Euro?
[15:02] {dino} maybe so, maybe so
[15:03] {Threei} reminds me hysterical "We will protect communism till last drop of our blood" - when nobody attacjed it
[15:04] {dino} reminds me of "we do not have a liquidity problem"
[15:04] {Threei} and "we do not need additional capital"
[15:04] {dino} right
[15:07] {dino} pretty good bounce
[15:07] {dino} scanners solid green
[15:07] {Threei} wow
[15:07] {Threei} shorted VXX .40
[15:07] {dino} ads finally works
[15:08] {Threei} moved my eyes to make sure whole lot got filled, moved them back, it's 20 cents lower
[15:08] {Threei} and of course covered too soon
[15:08] {Threei} idiot, lol
[15:08] {dino} out on spike to .31, +.91 all dayer
[15:08] {Threei} wtg
[15:08] {Threei} whoa
[15:08] {Threei} what's happening?
[15:09] {Threei} is it credit news??
[15:09] {dino} ndx green
[15:09] {dino} ppt
[15:10] {dino} ppt makes me think of a pbr
[15:11] {dino} wow, no comments on that
[15:12] {nemo} pabst blue ribbon?
[15:12] {dino} indeed
[15:12] {dino} i've been going retro lately, pbr, schlitz, schaeffer
[15:12] {Threei} sorry, reference is lost on me
[15:12] {Threei} foreigner, ya know
[15:12] {nemo} nothing you want to familiarize yourself me
[15:13] {dino} actually, they aren't bad, i think it's that they dropped the marketing ball
[15:13] {nemo} please...
[15:13] {dino} now canadian beer favorite is the moosehead
[15:14] {Threei} yikes
[15:14] {Threei} who dared to call that a beer
[15:14] {dino} you never had it? good beer, bad name
[15:14] {Threei} I did
[15:14] {Threei} hated every drop of it
[15:15] {Threei} but I m not a lager person
[15:15] {nemo} interesting...lower credit contraction did this, but debt levels are still high
[15:15] {dino} hmmmm, i guess i am blue collar at heart
[15:15] {Threei} I a ale... dark sorts are favorite
[15:15] {Threei} ales, stouts
[15:15] {dino} i like all kinds as long as cold
[15:15] {Threei} hehe
[15:16] {Threei} not moving to England any time soon, I assume
[15:16] {dino} no
[15:16] {Threei} did we miss AMSC?
[15:16] {nemo} yep
[15:17] {dino} yes, forgot about it
[15:20] {fernp} Have a happy weekend everybody. see you all on moday.
[15:20] {dino} fdx sm l .24
[15:21] {dino} cya fern
[15:21] {Threei} taje care fern, have a great ojne
[15:30] {nemo} bull flag break coming, or...
[15:30] {Threei} after these swings, all bets are off
[15:30] {Threei} anything's possible
[15:30] {nemo} yeah...walk off into the sunset
[15:30] {dino} exactly
[15:32] {dino} pfwrd blood, back to crash lows
[15:32] {dino} whr big beat, and big fall
[15:32] {dino} pfwd
[15:33] {dino} dji green
[15:44] {nemo} so, does market close above 10k
[15:44] {Threei} nope
[15:44] {Threei} some selling should come in now
[15:44] {Threei} not big but still
[15:47] {Threei} CFTC Commitment of Traders Report: USD longs rose to highest level in 11 months
[15:47] {nemo} Wanna' buy a bridge?
[15:48] {Threei} (CA) Canada Fin Min Flaherty: currency imbalances are concerning for G7
[15:48] {Threei} - Says some Asian currency exchange rates are rigid
[15:48] {Threei} - Reiterates there will be no comunique after this weekend's G7 meeting
[15:48] {Threei} - G7 should look at moral hazard at banks
[15:48] {Threei} - Says there are concerns at G7 over Greece
[15:48] {Threei} - G7 has already had preliminary discussions over the Eurozone debt
[15:48] {dino} out fdx .50, +.26
[15:48] {Threei} here is my selling
[15:49] {Threei} .77 - .97 VXX scalp on that conviction
[15:50] {Threei} Market Internals update at 3:30pmET
[15:50] {Threei} - NYSE volume 1.17B shares, about 40% above its three-month average; decliners lead advancers by 1.6:1.
[15:50] {Threei} - NASDAQ volume 2.36B shares, about 35% above its three-month average; decliners lead advancers by 1.2:1.
[15:50] {Threei} - VIX index +3.75% to just over 27.00
[15:54] {Threei} ok guys, thank you all
[15:55] {Threei} have a great weekend, see you on Monday
[15:55] {Threei} glad we finished the week on such good note
[15:57] {dino} take care. calling it a day too. magoo grab a beer
[15:58] {dino} ironically, decent day for me
[15:58] {Threei} tell that old alcoholic, time to get back to work
[15:58] {Threei} market volarility returns
[15:58] {dino} lol, he had some blown water pipe issues on a rental, not in good mood
[15:59] {nemo} 10014