Thursday, March 18, 2010

Mar 18 2010

It's official: 5-and-half weeks long winning streak has ended today. Morning brought three rinses - stock would touch our stop, then proceed to our target. Discipline trumps conviction. Later on SOMX momo allowed many of us to dig out of it but calls wise it's still a losing day. Read the discussion of how to play momos, starting around 15:14

Session Time: Thu Mar 18 00:00:00 2010
[08:03] {Threei} (EU) EU Commissioner Rehn's spokesperson: Rehn sees the EMF idea as an interesting concept
[08:04] {Threei} GR) Greece Fin Min: Denies earlier press speculation that Greece could ask IMF for aid in early April
[08:04] {Threei} ***Reminder: Before the European morning an unnamed Greece Official commented that Greece sight IMF aid during April 2-4 Easter weekend and was in steady contact with IMF Chief Strauss-Kahn. The official noted of a growing rift with Germany over the debt crisis was deepening (sse our 00:54am ET headline)
[08:30] {Threei} *(US) FEB CONSUMER PRICE INDEX M/M: 0.0% V 0.1%E; CPI EX FOOD&ENERGY M/M: 0.1% V 0.1%E; CPI NSA: 216.741 V 217.043E
[08:30] {Threei} *(US) INITIAL JOBLESS CLAIMS: 457K V 455KE; CONTINUING CLAIMS: 4.58M V 4.516M
[08:30] {Threei} *(US) Q4 CURRENT ACCOUNT: -$-115.6B V -$119.0BE
[08:37] {Threei} FDX Exec: Sees solid GDP growth in near-term in the US economy recovery is underway: housing could remain a problem, sees strong H1 in 2010 - conf call
[08:50] {Threei} 4:19:33 AM
[08:50] {Threei} (GR) Greece PM Papandreou: Reiterates it is country's responsibility to correct its problems - address to EU parliament
[08:50] {Threei} - Does not see financial markets as a scapegoat for Greece's problems
[08:50] {Threei} - Must restore confidence in its economy and credibility in its finances
[08:50] {Threei} - Greece has been making changes and will continue to do so
[08:50] {Threei} - Reiterates view that Greece cannot sustain its defcit reduction goals under high interest rates
[08:50] {Threei} - Admits that Greece is playing with 'loaded gun at the table' and that Europe needs to take action to curb contagion risk
[08:51] {Threei} (CH) China Foreign Ministry spokesperson Gang: Reiterates that US demands regarding CNY currency are unfair and harmful to relations
[08:51] {Threei} - Calm and rational approach was needed to address the dispute to reach mutually beneficial solution
[08:53] {Threei} 00:54 (GR) Greece Official: May seek IMF aid during April 2-4 Easter weekend, in steady contact with IMF Chief Strauss-Kahn
[08:53] {Threei} - No more bond sales likely until after Mar 25th EU Summit.
[08:53] {Threei} Notes the rift with Germany over the debt crisis is deepening
[08:55] {nemo} I love Germany pushing IMF option. It's another way of saying, "We'll let the US pay for it."
[08:55] {Threei} pretty much
[08:55] {Threei} well, both countries have taxpayers
[08:56] {Threei} none is happy to bail out Greece
[08:56] {Threei} who has more at stake
[08:56] {nemo} EU
[08:56] {Les} why not? US has screwed its dollar with the printing press, another trillion won't do greater harm?
[08:56] {Threei} and who can control their internal situation better
[08:56] {Threei} I don't think so les...
[08:56] {nemo} Les, that's more debt I incur
[08:57] {Les} give the cash to us, I'll put it to good use
[08:57] {Threei} patience wears thin here with bailing out US's own,
[08:57] {Threei} let alone someone else
[08:57] {Les} betting againts Dino does get expensive
[08:57] {Les} against
[08:57] {Les} :D morning
[08:57] {Threei} hi
[08:57] {Threei} don't et against him...
[08:58] {Threei} he has very nice track record of consistency
[09:00] {Threei} all in all, I will be very surprized if IMF takes this burden
[09:01] {Threei} just can't envision any palatable way to sell bailing out Greece to US public
[09:01] {nemo} not sure, might be blackmail to keep buying trasuries
[09:02] {Les} well, immediate bailout is one issue, but am happy to see policy reform pan-EU as necessary outcome long term
[09:03] {Les} an unstable EU ain't going to help Switzerland
[09:03] {Threei} feels to me like band-aid on tumor les...
[09:04] {Threei} I don't see EU problem in unsound financing or monetary policies
[09:04] {nemo} Greece has the EU by the short-hairs
[09:04] {Threei} that exists but it's just a small part of the problem
[09:04] {nemo} Now...can the EU convince the IMF (US) those are their shorthairs too
[09:05] {Threei} underlying and the most serious one is that the very construct is artifical
[09:05] {nemo} understood
[09:05] {Threei} and has internal contradictions that sooner or later will tear it apart
[09:06] {Les} not agreed
[09:06] {Threei} not many in Europe do :)
[09:06] {Les} huh
[09:06] {nemo} disparate cultures les
[09:06] {Threei} and economic disparity
[09:06] {Threei} but, why argue
[09:07] {nemo} what will be, will be
[09:07] {Threei} I am sure it will resolve itself in our lifetime
[09:07] {Threei} let's wait and see
[09:07] {nemo} whoa..
[09:07] {Threei} personal experience is,
[09:08] {nemo} the doctor is in
[09:08] {Threei} when this kind of things starts unravelling, it happens with mind-boggling speed
[09:08] {Threei} exceeding anything anyone could imagine
[09:09] {Threei} maybe there were geniuses that foresaw the speed of USSR collapse,
[09:09] {Threei} but within it I am sure there was none.
[09:09] {Threei} The system was rotten, sure,
[09:09] {Threei} a lot of people saw that
[09:09] {Threei} but no one forecasted that it could fall apart in the course of months
[09:09] {Threei} not even close
[09:10] {Threei} GE) German Gov't advisor: Germany position towards Greece remained unchanged
[09:12] {Threei} - reiterates Greece has not requested any aid.
[09:12] {Les} March 18 (Bloomberg) -- Greek Prime Minister George Papandreou set a one-week deadline for the European Union to craft a financial aid mechanism for Greece, challenging Germany to give up its doubts about a rescue package.
[09:13] {nemo} Naww...they're not requesting aid
[09:13] {Les} texas hold 'em
[09:13] {Threei} Caterpillar Inc Reports 3 month dealer statistics; Dec-Feb sales -filing
[09:14] {Threei} it's a very long tanble, let me just say,
[09:14] {Threei} there is no single line in it that starts with UP
[09:14] {nemo} means cat should run today :)
[09:14] {Threei} ahha, here are totals
[09:14] {Threei} World DOWN 20% DOWN 27% DOWN 35%
[09:15] {Threei} Total DOWN 33% DOWN 33% DOWN 36%
[09:15] {Threei} firast is by regions, second is by industries
[09:15] {Les} fuqi hanging around 12
[09:15] {lasertrev} good morning
[09:15] {Les} The SEC's Mary Schapiro acknowledged that the agency's oversight of Lehman Brothers (LEHMQ.PK) may have been inadequate
[09:16] {Threei} trev :)
[09:17] {Threei} worth watching, CAT
[09:21] {Threei} part of this maybe weather related
[09:23] {dino} gm all
[09:23] {Threei} dino :)
[09:23] {Threei} any hangover?
[09:23] {Les} hey dino
[09:24] {dino} no hangover, behaved
[09:24] {Threei} hmmm... where is the fun in that
[09:24] {dino} daughter had a basketball game, so....
[09:25] {Threei} ok... misbehaving is postponed till weekend then
[09:26] {larisa} gm :)
[09:26] {Threei} larisa :)
[09:26] {larisa} :)
[09:26] {Les} hi larisa
[09:27] {larisa} morning les
[09:27] {dino} fdx
[09:27] {dino} hig holds well w/that offering
[09:27] {RonS} gme gm all
[09:28] {Threei} Ron :)
[09:29] {Les} Hi Ron
[09:30] {Threei} Short Setup: CAT .60 break half lot
[09:31] {Threei} if stays under .80
[09:31] {Threei} invalidated
[09:31] {jfjf64} mornin
[09:31] {Threei} jf :)
[09:32] {Les} 60 is pivot resistance CAT
[09:33] {Threei} I like the idea of long on it but I'd like pullback
[09:33] {Threei} .80 is nearest support
[09:35] {Threei} Long Setup: CAT .95
[09:35] {Threei} if stays above .85
[09:36] {fernp} Good morning everybody
[09:37] {Threei} fern :)
[09:37] {Les} fern
[09:37] {Threei} little market help, and it's capable of much more than scalp
[09:39] {Threei} no go
[09:40] {Threei} (US) Preview: Feb Leading Indicators due out at 10:00ET
[09:40] {Threei} **consensus expectation: 0.1%e v 0.3% prior
[09:40] {Threei} (US) Preview: March Philadelphia Fed Index due out at 10:00ET
[09:40] {Threei} **consensus expectation: 18.0e v 17.6 prior
[09:41] {nemo} fuqi bounced off post market lows yesterday, probably strong support
[09:41] {Les} watching it. DSW too
[09:44] {dino} s cat .95 stop .06
[09:44] {nemo} mmmhhh...fuqui base building just under .30
[09:44] {Threei} Long Setup: GME .90 break if stays above .75, half lot
[09:45] {larisa} TSL not happy today
[09:46] {Threei} Yesterday 17:15 TSL Registers to sell 7.9M ADS (about 13% of shares outstanding)
[09:46] {Threei}
[09:48] {Threei} SPY makes these long tails all morning
[09:48] {Threei} all of 18 min of it anyway
[09:49] {Threei} makes read quite unreliable
[09:49] {Threei} no go GME
[09:50] {dino} cat stopped
[09:50] {Threei} CAT rinsed long
[09:50] {larisa} dino went short on it
[09:50] {Threei} ok,
[09:50] {Threei} CAT rinsed long and short
[09:51] {Les} shorted GME for +.14
[09:51] {dino} yeah
[09:51] {nemo} mmmhhhh....not good
[09:51] {dino} looks like s now
[09:51] {nemo} and the spy looks like it's in V fib
[09:52] {larisa} things are just bouncing all over the place
[09:52] {Threei} yes
[09:52] {larisa} except for RIMM :)
[09:52] {Les} wow. erratic movement from CAT
[09:53] {Les} dino, you looking at anything?
[09:53] {nemo} his monitor
[09:53] {nemo} sorry lari
[09:53] {dino} cat, but can't figure it out
[09:53] {Threei} now CAT is doing what I envisioned on that first break
[09:54] {Threei} morning volatility was a bit excessive
[09:54] {larisa} it was your fault vad, you said .80 support, but made stop at .85
[09:54] {Threei} true
[09:56] {Threei} friking CAT goes much higher
[09:56] {Threei} and with no readable entry
[09:57] {Threei} let's wait out set of numbers in 4 min
[09:57] {Threei} 3
[09:57] {Les} GME seems to be heading for a .50 b/d sooner or later?
[09:58] {strider} tivo
[09:58] {Threei} hard to tell les
[09:59] {Threei} no news yet TIVO
[10:00] {Threei} *(US) FEB LEADING INDICATORS: 0.1% V 0.1%E
[10:00] {Threei} *(US) MAR PHILADELPHIA FED INDEX: 18.9 V 18.0E
[10:01] {Threei} TIVO pace is momo-like
[10:02] {strider} has to do with DISH settlement
[10:02] {Threei} TIVO Strength attributed to positive Sanford Bernstein note (16.27, +0.42, 2.65%)
[10:04] {Threei} Bernstein suggests that TIVO could get a favorable settlement agreement from DISH Network after US appeals court affirmed ruling in Tivo's favor earlier this month.
[10:07] {Threei} FCX
[10:08] {Threei} Long Setup: FCX .90 half lot
[10:09] {Threei} stop under .80
[10:09] {KSystems} morning
[10:10] {Threei} wth
[10:10] {Threei} ks :)
[10:10] {Les} ready to short CAT
[10:10] {Threei} wow
[10:10] {Threei} no way
[10:10] {dino} cat last try s .10
[10:11] {nemo} pivot is .07
[10:12] {Threei} FCX rinse too
[10:13] {Les} CAT failed 200 ma support, yesterday's close. needs to hold .07
[10:13] {jfjf64} crazy mornin
[10:13] {nemo} fcx bounced right off pivot
[10:14] {RonS} clne rip
[10:14] {dino} mkt messed up
[10:14] {fernp} VRSN 27 break, Vad?
[10:15] {Threei} daily is perfect
[10:15] {nemo} FDX screaming short
[10:16] {fernp} ok
[10:16] {nemo} alright so it lied to me
[10:16] {dino} lol
[10:16] {Les} FDX getting pumped thru 50/200ma. .78 pivot reversal maybe?
[10:17] {nemo} worth watching
[10:17] {nemo} ow that's a stop
[10:17] {Les} cat
[10:18] {nemo} volumes dropping on fdx ascent
[10:19] {magoo} moprn
[10:19] {nemo} motrin
[10:19] {Threei} (US) Pres Obama: US economy may soon be adding jobs rather than losing them (related EUR/USD )
[10:20] {nemo} he's a guy you can trust
[10:20] {RonS} ya census
[10:20] {nemo} amanuensis
[10:21] {Les} aapl not favored today. whacky market
[10:22] {RonS} Vad, is PCX setting up for a run?
[10:22] {Threei} I doubt it
[10:22] {Threei} feels tired to me
[10:23] {Les} SLW b/d type 1?
[10:23] {Les} .31 break?
[10:23] {Threei} coin toss, IMO
[10:24] {Les} k
[10:24] {Threei} Ron, PCS can change if consolidates closely for a few min
[10:24] {Threei} and market spikes
[10:25] {Threei} PCX, sorry
[10:25] {Threei} GGP Judge notes he could delay by a few days the April 13 deadline for stalking horse bid hearing
[10:25] {Threei} stalking horse?
[10:26] {strider} HGSI
[10:27] {Threei} starts looking better, PCX
[10:27] {Threei} takeover rumors, strider
[10:27] {strider} THX
[10:29] {strider} CAT looking short now?
[10:29] {Threei} not really
[10:29] {Threei} nor long
[10:30] {fernp} MHP strong holding well on highs
[10:30] {dino} trades w/mkt
[10:31] {Threei} IMF: Group experts are in Greece, looking at banking issues, providing tech support
[10:31] {Threei} Greece has not asked for help with debt financing
[10:31] {Threei} - Have yet to disucess debt management issues with Portugal
[10:34] {Les} 1:1 SLW and out +.06
[10:35] {Threei} wtg
[10:35] {Les} 1.5k. sorta the limit for my pretend account. but does the job
[10:36] {Threei} wow, is market trying to have red day?
[10:36] {Threei} no way, it must have forgotten how to do that
[10:36] {Les} gdx sector falling hard
[10:36] {dino} big red coming
[10:37] {Les} fdx
[10:38] {Threei} Short Setup: GME .50 break
[10:38] {Threei} kind of lingering setup,
[10:38] {Threei} can shape up and invalidate a few times
[10:39] {Threei} so it's on continuing watch for a consolidation tight enough for a reasonable stop placement
[10:39] {Les} out fdx +.19
[10:39] {Threei} Generic Natural Gas futures hit lowest level since Sept 2009 following report of smaller than expected weekly draw on inventories (related UNG )
[10:40] {Threei} UNG is quite something
[10:40] {strider} stop .60 on GME?
[10:40] {Threei} if it sets up from here, yes
[10:49] {dino} cat cov .93, +.17
[10:53] {Threei} 50% Less Likely To Vote For Congress Member Who Supports Health Care Plan, 4% are more likely
[10:53] {Threei} 34
[10:54] {Threei} 51% of voters not affiliated with either major party are less likely to support someone who votes for the legislation. Just 32% of unaffiliateds are more likely to vote for someone who supports the bill.
[10:54] {Threei} what amzes me is how little sensitivity to all this stocks that seem to be the most influenced have
[10:55] {Threei} AET for instance
[10:55] {Threei} you'd expect it to swing wildly with each turn and twist of health care saga
[10:55] {dino} hl l jst .75
[10:56] {dino} jcg l .08
[10:59] {fernp} going to try ERTS .60 break
[11:08] {fernp} no go ERTS
[11:15] {strider} maybe the mastrmind did it.
[11:15] {Threei} (US) Congressional Budget Office (CBO) Adjusts estimates on health care bill's impact for deficit
[11:15] {Threei} - sees an added $20B net reduction in deficit from the possible reconciliation bill; from previously $118B reduction to $138B
[11:16] {fernp} AMZN breaking 132
[11:18] {RonS} today's best headline: Greece Gives Germany And European Union One Week Ultimatum (No, You Are Not Dyslexic)
[11:18] {fernp} lol
[11:19] {Threei} I saw similar line but saying "deadline", not ultimatum
[11:19] {Threei} that looked bad
[11:19] {Threei} this vcersion looks worse
[11:19] {Les} I think it's that or they go squealing to the IMF, which will embarrass the EU no end
[11:20] {Threei} EU will only be happy to kick this over to IMF
[11:20] {Les} you think Toyota's have a problem:
[11:20] {Threei} lol
[11:20] {nemo} what is this, Groundhog morning?
[11:21] {Les}
[11:21] {Les} now I've seen everything
[11:21] {RonS} J Paul Getty in the '60's: When you owe the bank $10k it your problem; when you owe them $10mil its theirs.
[11:22] {nemo} trump used that strategy quite effectivel
[11:22] {nemo} y
[11:22] {Les} GME roughly back into the zone
[11:22] {dino} .
[11:24] {Les} well I give up. nothing working.
[11:24] {nemo} Go have a drink les
[11:25] {Les} ah. GDX ain't going up
[11:26] {fernp} 1:1 AMZN
[11:26] {Threei} wow fern
[11:26] {Threei} you did find one working
[11:26] {Threei} I take a bow
[11:26] {fernp} lol
[11:26] {Threei} seriously... I think today is THE day
[11:27] {Les} reversal?
[11:27] {dino} gj
[11:27] {Threei} 5 weeks and 3 days with no losing days
[11:27] {nemo} go home Vad
[11:27] {Les} oh, you mean losing day. bummer
[11:27] {Threei} had to end at some point, didn't it
[11:27] {jfjf64} stop
[11:27] {nemo} Devil's Advocate
[11:28] {Les} fdx is in the green
[11:28] {Les} maybe 90 break?
[11:28] {Les} after consolidation
[11:28] {nemo} or it's going to drop from that level
[11:29] {RonS} dino, see anything w/ MOS?
[11:30] {Les} POT looks good. but large stop
[11:30] {nemo} Ron, I've got a support line drawn in her on MOS from a while ago
[11:30] {dino} following pot down is all i see
[11:31] {nemo} you've got two high volume canldes at this's shaping up
[11:31] {dino} 60 strike
[11:32] {Les} nwpx down spike
[11:32] {nemo} huge bid at 60
[11:33] {Threei} SOMX
[11:33] {Threei} Somaxon Pharmaceuticals FDA Approves of Silenor (doxepin) for the Treatment of Insomnia
[11:33] {Threei} - approved the New Drug Application (NDA) for Silenor (doxepin) for the treatment of insomnia characterized by difficulty with sleep maintenance.
[11:33] {Threei} halte
[11:34] {nemo} bid moved up to 60.02
[11:34] {jfjf64} pot sellin
[11:34] {Threei} this is funny line
[11:34] {Threei} (GR) Greek PM: Pledges not to ask for financial assistance from the EU or the IMF
[11:35] {nemo} he can demand
[11:35] {Threei} if a dog looks at me with those moist hungry obedient eyes while I bite into my burger, is he asking?
[11:35] {nemo} yep
[11:35] {Threei} SOMX Reports Q4 -$0.08 v -$0.52 y/y, Rev is nil
[11:40] {Les} GME with a 5 cent stop?
[11:40] {Threei} too tight
[11:41] {dino} cnx stopped
[11:42] {Threei} that was fast, GME
[11:42] {Les} GME
[11:43] {Threei} (US) Hearing rumor of Fed plans for a discount rate increase (related EUR/USD TLT SHY )
[11:43] {Threei} this is what is killing market, IMO
[11:43] {Threei} ***Note that at the Jan 27 FOMC meeting, Kansas City Fed President Thomas Hoenig voiced his dissent against the "extended period" language, stating that economic and financial conditions have improved enough that language was no longer warranted. Then on Feb 18, the Fed raised the Discount rate 25 bps to 0.75%, but couched it as a move toward "normalization" that does not reflect a change in policy outlook. At the 3/16 FOMC meeting, Hoenig once again dissented.
[11:43] {Les} what's that? the rate that banks borrow from the Fed?
[11:44] {Les} out GME +,11
[11:44] {Threei} yes
[11:45] {fernp} NVDA breaking lod
[11:45] {nemo} that must be part of why the $ is up
[11:45] {fernp} stop above .60
[11:47] {Threei} IA) Sec State Clinton: Without assurances from Iran in regards to its nuclear program, start up of the Busan nuclear plant would be premature
[11:47] {Threei} nemo, that and renewed EU/Greece tensions
[11:47] {nemo} that's the other "part"
[11:49] {nemo} huge offer .80 fcx
[11:49] {Threei} Notes that Iran starting up the Bushehr plant would send the wrong message.
[11:49] {Threei} - Earlier in the session, Russian PM Putin said Iran was planning to start up the Bushehr plant later this summer.
[11:52] {dino} yuii l .40
[12:00] {dino} jcg stopped
[12:03] {dino} s qqqq
[12:03] {dino} .62
[12:03] {fernp} out .41 NVDA +.08
[12:07] {Threei} Fed: do not comment on market rumors
[12:07] {Threei} - responding to inquiries about rumor circulating about another intra-meeting discount rate hike being planned.
[12:12] {Les} ty dino. out yuii +.09
[12:13] {Threei} GME nice slide
[12:14] {Les} bounce play in there?
[12:14] {Threei} not that I can see
[12:14] {dino} gj les
[12:15] {Les} just riding on back of your calls
[12:15] {Les} Vad, SLW .90 with .85 stop?
[12:16] {dino} careful w/,me today, lots of stops
[12:16] {Threei} with market help should work
[12:16] {Threei} dino, lots? stops is ALLI have today, lol
[12:17] {nemo} FDX just had a high volume bar at the bottom of a trend line, either going higher or breaking (then again might stay the same :))
[12:18] {strider} can you give us a few more options?
[12:18] {Threei} that's an input of extreme value{G}
[12:18] {nemo} :)
[12:18] {nemo} it was more to raise awareness because IHNFI what it was going to do
[12:19] {Threei} so, you raised our awareness of the fact that you HNFI?
[12:19] {nemo} both, in the event someone wanted to take action on a volume spike at the trend line
[12:20] {nemo} Actually...I thoughted provided more information than, "Well Vad, whaddya' think about FDX?" or "FDX vad?"
[12:21] {strider} NEMO, vad?
[12:21] {Threei} lol
[12:21] {strider} I'm thinking short.
[12:21] {nemo} I'm short already, physically impossible to go long
[12:23] {Threei} (US) US House Speaker Pelosi formally introduces a finalized health care bill
[12:24] {nemo} Mmmmhhh...MON volume up 43% and it's flatlined
[12:26] {RonS} can anyone explain why the selloff in PO and MOS is being attributed to the selloff in nat gas?
[12:26] {RonS} PO=POT
[12:26] {Threei} hmm?
[12:26] {nemo} lotta' offers getting hit on mos
[12:26] {Threei} who made this connection?
[12:27] {nemo} some moron headline writer?
[12:28] {RonS} TheFlyOnTheWall
[12:28] {Les} 1:1 SLW and out
[12:29] {Threei} mystery to me Ron
[12:29] {Threei} wtg Les
[12:30] {Les} ty
[12:31] {dino} gj les
[12:32] {Les} wfc 30 b/d?
[12:32] {Les} too late
[12:32] {Threei} well... yes
[12:32] {nemo} prescient 3i
[12:33] {nemo} ooops...sarcasm
[12:33] {Threei} :)
[12:33] {nemo} so unlike me
[12:33] {nemo} Lari's fault
[12:34] {Les} will see if futher short setup comes up. support at .90
[12:35] {nemo} feels like a down day and the DOW is still up
[12:36] {Threei} or short bounce les
[12:36] {Threei} it's back up into resistance
[12:37] {Les} gme
[12:40] {Threei} that was perfect second chance opportunity in WFC, conservative entry
[12:40] {Les} s .95
[12:47] {Les} out +.01. got too greedy
[12:47] {dino} qqqq cov -.10 sheesh
[12:51] {Threei} god
[12:51] {Threei} look who opened his mouth
[12:51] {Threei} (US) Former Fed Chair Greenspan: Increasing capital requirements for banks would be more effective than the new financial reform legislation
[12:51] {Threei} - notes some banks may need to boost their reserve capital by 40% (improve capital to 14% of assets from 10% prior)
[12:53] {dino} nwpx l .52
[12:55] {Threei} ROFL
[12:55] {Threei} Pelosi: some of bill would be paid by tax on unearned income
[12:55] {nemo} capital gains
[12:55] {Threei} I know... I just love the wording
[12:56] {nemo} I think she was a stockbroker at one time
[12:56] {Threei} if we tax unearned income, let's use it to pay for non-provided health care
[12:56] {dino} rino
[12:56] {dino} also rent, dividends etc
[12:57] {dino} latest not 2.9 but 3.8%
[12:58] {Threei} (US) White House's Gibbs: President Obama has postponed Asia trip until June
[12:58] {dino} plus bush tax cuts exp.
[12:58] {Threei} - rationale to focus on health care reform legislation
[12:58] {Threei} till June??
[12:58] {Threei} I thought it was this weekend or bust
[12:59] {dino} rino l .21 trig
[13:15] {dino} nwpx to .72
[13:16] {dino} mos interesting nemo
[13:16] {nemo} I was thinking about it break of .25
[13:17] {dino} was watching that too, took nwpx instead
[13:17] {dino} thionking db on
[13:17] {dino} nwpx stopped .69, +.17 slipped
[13:18] {nemo} migth bounce here
[13:18] {nemo} yep
[13:19] {nemo} look at that volume spike
[13:20] {nemo} market dropping too see what it does
[13:20] {dino} see it
[13:20] {nemo} could see a little inverse H&S form here.
[13:21] {dino} .45holds well
[13:21] {nemo} yep
[13:22] {nemo} of course, as soon as you type it
[13:22] {dino} hmmm
[13:22] {nemo} .40 is most important
[13:22] {dino} hmmm again
[13:24] {Threei} MNKD Hearing Griffin Securities makes positive comments (timing uncertain)
[13:24] {Threei} - Reiterates Buy rating and $26 price target (7.72, +0.23, 3.07%)
[13:26] {nemo} well it held H&S support so far
[13:26] {nemo} Inverted
[13:26] {nemo} but no volume
[13:30] {dino} took .40 mos l
[13:30] {nemo} nice
[13:32] {dino} nwpx was too tight
[13:33] {Threei} argh
[13:33] {Threei} forgot about SOMX
06[13:33] * nemo slaps Threei around a bit with a large trout
[13:33] {Threei} crap
[13:33] {nemo} now you sound like Les
[13:34] {dino} sm l chk .96
[13:35] {nemo} feels like market going to sell off towards the end of the day
[13:36] {dino} no feel, thought that earlier and was wrong
[13:36] {nemo} I'm talking later
[13:36] {nemo} maybe partial here on mos?
[13:36] {dino} i mean, i don't have any feel about it
[13:36] {strider} pheelings...
[13:36] {nemo} nothing more than....
[13:36] {dino} wants 60 imo
[13:36] {strider} nothing more than pheelings.
[13:37] {nemo} O gawd
[13:37] {RonS} feerrings...
[13:37] {nemo} where's my gun
[13:37] {nemo} chinese ron, or speech impediment
[13:37] {RonS} japanese karaoke
[13:37] {nemo} kewl, my next guess
[13:37] {larisa} lol
[13:41] {RonS} classic karaoke story:
[13:42] {nemo} 200 ma is under .90 dino
[13:42] {dino} mos to .75
[13:42] {Threei} SOMX pick up momentum
[13:43] {dino} out +.35
[13:44] {nemo} :)
[13:44] {dino} ty
[13:44] {Threei} wtg
[13:46] {Threei} [13:34] * KSystems was kicked by ChanServ (You are not permitted to be on this channel.)
[13:46] {Threei} that'll show him
[13:46] {nemo} man bites dog
[13:46] {Threei} he better bail out Greece or else
[13:46] {nemo} verdammten Deutscher
[14:12] {Threei} this is really really rich:
[14:12] {dino} chbt
[14:12] {Threei} Alan Greenspan traces housing bubble to collapse of the Soviet Union
[14:12] {Threei} The fall of the Soviet Union led to hundreds of millions of workers entering the global marketplace, he said in a paper to be presented to a Brookings Institution conference.
[14:12] {Threei} This new market-based workforce, Mr. Greenspan said, helped push up growth in the developing world. This in turn fueled a global savings glut that drove down long-term interest rates, leading to an unsustainable boom in house prices, he said.
[14:13] {nemo} ?
[14:13] {nemo} frickin' commie bastids
[14:13] {Threei} ?
[14:13] {Threei} yeah, that's us
[14:13] {Threei}
[14:14] {Threei} here is one comment from readers that I can't help but love:
[14:14] {Threei} It is difficult to comprehend how Ann Rand was able to turn this dorky salesman into a Fed Chairman.
[14:15] {Les} i'm happy to see that this idiot has well and truly ruined himself
[14:15] {Threei} I second that
[14:15] {Les} perhaps congress might swallow such stupidity
[14:16] {nemo} that's the problem Les
[14:16] {Threei} I actively disliked him while he was at the helm
[14:16] {Les} his placed is sealed in the history books
[14:16] {Threei} glad to see it's catching up
[14:16] {nemo} market shaping up for a run north?
[14:17] {Threei} IMO, no, but I am so off today
[14:17] {jfjf64} good night all
[14:17] {Threei} slacker
[14:18] {jfjf64} lol
[14:20] {Threei} hey
[14:20] {Threei} I realized something
[14:20] {dino} cya jf
[14:20] {Threei} whose fault the fall of USSR was?
[14:20] {Threei} Reagan!
[14:20] {Threei} that who is to blame in housing crisis!
[14:23] {dino} wow, don't let obamination hear that, he'll stop blaming "w"
[14:28] {Threei} (GR) EU's Juncker: EU prepared to assist Greece if it is negatively impacted by market speculation (related NBG )
[14:30] {Threei} market loses sensitivity to this endless stream of EU/greece twists
[14:30] {Threei} doesn't measn it won't react when something happens,
[14:31] {Threei} just that it doesn't believe all the stories and sound bites anymore, after seeing how they change by minute
[14:33] {RonS} choo choo high
[14:34] {RonS} tannies=trannies
[14:34] {Threei} MNKD... tough trader but .75 break seems to be legit trigger
[14:35] {dino} dow theory bull triggered yesterday
[14:35] {Threei} by transports?
[14:36] {dino} yes
[14:54] {RonS} x lod
[14:54] {Threei} SOMX momo
[14:58] {nemo} I'm outta' here P&Q
[14:59] {dino} cya nemo
[15:00] {larisa} bye nemo
[15:00] {Threei} take care nemo
[15:02] {dino} back in 10
[15:10] {Threei} watching SOMX anyone?
[15:10] {strider} am now.
[15:10] {Threei} where is magoo
[15:10] {Threei} this is so his play
[15:10] {jfjf64} y
[15:11] {Threei} and jf's, but jf has left
[15:11] {jfjf64} im here 7.00
[15:11] {Threei} no you left
[15:11] {Threei} 14:17] {jfjf64} good night all
[15:11] {Threei} [14:17] {Threei} slacker
[15:11] {Threei} [14:18] {jfjf64} lol
[15:11] {Threei} that's how I know
[15:11] {Threei} partial, jf...
[15:11] {Threei} if you are here
[15:11] {jfjf64} lol
[15:12] {Threei} this situation is 50/50 bteween continuation and filzzling out
[15:12] {Threei} well... 51/49
[15:12] {jfjf64} half out
[15:12] {Threei} if it fizzles out, it will pull back deeply,
[15:12] {jfjf64} was 2cents from being stoped
[15:13] {Threei} probably to around 6.60 or so, befofe bounce becomes more or less safe bet
[15:13] {Les} went long, lost on pullback here, don't like it. waiting for short opp.
[15:14] {Threei} don't by breakouts on momos
[15:14] {Threei} pullbacks only
[15:14] {Threei} breakouts work in early stage of momo movement only
[15:14] {Les} ok
[15:14] {jfjf64} all out
[15:14] {Threei} do this Les
[15:15] {Threei} when next momo comes around,
[15:15] {Threei} observe it from this point of view,
[15:15] {Threei} comparing breakouts and pullbacks
[15:15] {Threei} you'll get a good feel for this phenomenon,
[15:15] {Threei} how at the early stages breaks work nicely,
[15:15] {Threei} then each break becomes a trap,
[15:16] {Threei} while pullback entries work
[15:16] {Les} done
[15:19] {Threei} see the way it advances?
[15:19] {Threei} if you buy pullback, you can score, let's say 20 cents on a jump ober the next resistance
[15:20] {Les} l .37
[15:20] {Les} out +.10
[15:20] {Threei} but if you buy break of that same resistance, you may gewwt 5 cents, then it pulls back 15-20
[15:26] {Les} not shortable
[15:28] {Threei} see how 8 buyers get trapped?
[15:28] {Threei} and one more thing,
[15:29] {Threei} as you watch 8 scrolling,
[15:29] {Les} y
[15:29] {Threei} feel the strong temptation to join in?
[15:29] {Les} been there, done that
[15:30] {Threei} that's something to think about
[15:30] {Threei} this is your window into minds of others
[15:30] {Threei} if you feel this strong urge - this is what crowds feel
[15:30] {Threei} they act on this impulse,
[15:30] {Threei} and this is excatly the wrong thing to do
[15:31] {Threei} use your own emotions as a window into the collective mind of the crowd
[15:32] {Threei} now as early 8 bueyers got scared and shaken out by fast and furious drop, it returns back to 8
[15:32] {Threei} rewarding pullback buyers
[15:34] {fernp} good observation Vad ty :-)
[15:35] {Threei} always... if not profits, I can at least provide some educational value on a day when I can't trade my way out of wet paper bag
[15:36] {Threei} on personal trading side, I did dig myself out of hole thanks to SOMX... but didn't dare to call it
[15:36] {dino} my streak ends today
[15:36] {Threei} yours too?
[15:36] {dino} yeah, morning rinsed to death
[15:36] {dino} had 13 in row
[15:36] {Threei} yup, same here
[15:36] {Threei} yecchh
[15:37] {Threei} had 3, and stopped pressing
[15:37] {fernp} hey!! i am 3 out of 3 FAZ, AMZN and NVDA applying what you have taught me
[15:37] {dino} days not rinses, 5 rinses
[15:37] {fernp} :-)
[15:37] {dino} gj fern
06[15:38] * Threei slaps fernp around a bit with a large banner saying "How dare You
[15:38] {fernp} ty dino
[15:38] {fernp} sorry Vad, sorry
[15:38] {Threei} sin no more
[15:42] {dino} live in sin, c'mon in
[15:45] {Les} nice vad. been scalping .40 pullbacks. pulling me out of my hole as ell
[15:45] {Les} well
[15:45] {Threei} there you go :)
[15:46] {Threei} education paid right away
[15:47] {Threei} deeper pullback is coming this time, IMO
[15:47] {RonS} dang...fdx
[15:47] {Threei} or no pullback at all, lol
[15:48] {Les} only game in town
[15:48] {Threei} pretty much
[15:52] {Threei} sheesh
[15:52] {Threei} magoo will cry tomorrrow like baby
[15:52] {Threei} or today, if I send him an e-mail with SOMX chart
[15:53] {fernp} good evening everybody. See you all tomorrow
[15:53] {Threei} take care fern
[15:53] {Les} ciao
[15:55] {larisa} lol
[15:55] {Threei} non-stop
[15:55] {dino} out jst .05, all dayer +.30
[15:55] {Threei} good to finish day with winner
[15:56] {dino} helps
[15:56] {Les} damn. tried a .50 break. jumped 25 cents
[15:57] {Les} voila. got my last 10 cents from it
[15:57] {Threei} lol
[15:57] {Les} ten is top?
[15:57] {Threei} 3 min left
[15:59] {Les} market modest enough to finish a tiny bit red
[15:59] {Threei} SPY onlu
[15:59] {Threei} the rest is green
[15:59] {Les} right
[16:00] {Threei} thank you asall
[16:00] {larisa} bye all :)
[16:00] {Threei} have a good evening, see you tomorrow
[16:00] {Les} thank you. ciao all
[16:00] {larisa} asall does not sounds too good vad
[16:01] {Threei} hmm
[16:01] {Threei} I guess not, lol
[16:01] {larisa} :)