Thursday, May 20, 2010

May 20 2010

One of the best trading days in a while, rich in opportunities and readable enough to use many of them. Longs and shorts, a few scalps but mostly nice juicy moves, in many stocks: LVS, X, BP, BIDU and a few more.

Session Time: Thu May 20 00:00:00 2010

[08:29] {magoo} morn
[08:29] {Threei} mornng
[08:30] {strider} magoo, vad.
[08:30] {Threei} US) INITIAL JOBLESS CLAIMS: 471K V 440KE;
[08:30] {Threei} strider :)
[08:30] {strider} :)
[08:30] {Threei} CONTINUING CLAIMS: 4.625M V 4.60ME
[08:30] {Threei} - Prior initial claims revised higher from 444K to 446K
[08:31] {Threei} Prior continuing claims revised higher from 4.627M to 4.665M
[08:31] {nemo} AWIAV?
[08:32] {Threei} lol
[08:33] {nemo} never know
[08:35] {magoo} how many days red we been now, anyone?
[08:35] {Threei} bounce topped on 5/12
[08:36] {magoo} but mkts red alot of days straight, correct?
[08:36] {nemo} 5
[08:36] {magoo} 8?
[08:36] {nemo} go to daily chart of spy
[08:36] {Threei} and, foreseing next question: todat is 5/20 {G}
[08:37] {magoo} whats todays date?
[08:37] {Threei} hehe
[08:37] {magoo} :)
[08:39] {dptl} good morning
[08:39] {Threei} dp :)
[08:43] {Les} bonjour messieurs et mesdames
[08:43] {Les} and nemo
[08:43] {Threei} Les :)
[08:44] {Threei} SP) Reportedly Spain government wants to approve new tax increases on wealthy in a fortnight - radio address
[08:51] {Threei} German 10-year Bunds European peripherals credit default swaps widen in session
[08:51] {Threei} - Greek 5-year CDS at 690bps, up 20 bps from Wednesday close
[08:51] {Threei} - Portuguese 5-year CDS at 310bps, up over 30bps from Wednesday close
[08:51] {Threei} - Spanish 5-year CDS at 200bps, up almost 20bps from Wednesday close
[08:53] {magoo} vad, is there news MA V?
[08:57] {Threei} Yesterday 17:30 V Spokesperson: CEO Saunders travels to Washington DC to meet with legislators on card fee amendment
[08:57] {Threei} that's all
[08:58] {Threei} TTIL Responds to media reports regarding potential transaction; currently in negotiations regarding a potential acquisition of all the shares of the Company (2.40, 0.00, 0.00%)
[08:59] {Les} nice gap down day. cool. a dino day
[08:59] {Threei} LVS Next Phase of COTAI STRIP Development on Track With Completion of $1.75 Billion Project Financing \
[09:03] {magoo} gap down gives us better chance trhan gap up..i agree
[09:03] {Threei} true
[09:03] {Threei} but which way? :)
[09:03] {nemo} rumor going around that the german short ban may be adopted across the eu
[09:04] {Threei} because it worked so well so far eh
[09:04] {nemo} of course
[09:04] {Threei} lol
[09:04] {Threei} if money flee germany for Swiss after ban,
[09:04] {larisa} gm :)
[09:04] {Threei} where does money go if ban becames pan-Europe?
[09:04] {Threei} larisa :)
[09:05] {Threei} hello another USD moonshot, good bye Euro, I'd guess
[09:05] {Les} hey hey hey who you calling Europe?
[09:05] {Les} all roads lead to switzerland
[09:05] {dino} gm all
[09:05] {Threei} dino :)
[09:05] {Les} for those that have money anyway
[09:05] {Threei} when ideology drives decision-making process...
[09:06] {nemo} I remember having a job interview in the early 90's and the woman was all gung ho on the EU. I said it would never survive. She looked at me as if I had two heads
[09:06] {RonS} howdy pards
[09:06] {Threei} well, to be fair to her...
[09:06] {Threei} ron :)
[09:06] {Les} hehehe
[09:06] {nemo} fair
[09:06] {nemo} what's fair
[09:07] {larisa} fair is when you get what you think you deserve :)
[09:07] {Threei} it's OK, I'll let Les finish that sentence for me {G}
[09:07] {dino} whats ironic is last summer and fall the talk was getting rid of us $ as reserve currency
[09:07] {Threei} no kidding dino
[09:07] {Threei} and we said no way
[09:09] {Les} seems jobless numbers behind this gap down
[09:10] {Threei} no, it was solidly in the red before
[09:10] {Threei} job numbers just deepened it
[09:11] {Les} ok
[09:12] {Threei} GE) German Bank Association Head: Short selling ban useless; it makes multinational solutions on regulation more difficult
[09:13] {Threei} politics: ah, he is a damn bankster, why listen to him
[09:13] {RonS} teva is catching a bid this a.m.
[09:14] {Threei} Yesterday 15:50 TEVA Announces Launch and Shipment of Generic Lipitor Tablets in Canada
[09:14] {Threei}
[09:15] {Threei} and upgrade by Standpoint this morning
[09:18] {Les} news IRE vad?
[09:19] {RonS} Category: what are these guys smoking: ECB's Trichet says recent events confirmed ECB policy approach; not engaged in "any form of quatitative easing".
[09:19] {shorty} morning all
[09:19] {Threei} shorty :)
[09:20] {Les} he's playing confidence game Ron. ECB said no sovereign debt purchases 6 months ago
[09:20] {Threei} not specifically Les, just general blabbing around Ireland and whole Europian situation
[09:20] {Les} now its debt to be sterilized
[09:20] {magoo} vad, stalking the usuals?
[09:21] {shorty} some comedy:
[09:22] {Les} nothing funny about the truth shorty
[09:22] {Threei} I think so mags
[09:22] {RonS} is really tragedy shorty...
[09:22] {Les} :D
[09:24] {dino} fdx, fcx, clf
[09:26] {lasertrev} good morning
[09:27] {Threei} ok, no opening plays, want to skip first minutes while it's hectic and unreadable
[09:27] {shorty} Threei, you should be happy. The loonie lost 2 cents this morning.
[09:27] {Threei} trev :)
[09:27] {Threei} I am
[09:27] {Threei} I'd be even happier seeing it back to .60
[09:27] {shorty} Those were the days.
[09:27] {Threei} now, before we open, let me treat you to this:
[09:27] {Threei} There was this language translating program early in the CIA computer experience, having got their translator to convert English to Russian, and back from Russian to English, they thought they'd give this application a trial.
[09:28] {Threei} The phrase they chose was 'The spirit is willing but the flesh is weak.'
[09:28] {Threei} They got back 'The vodka is good but the meat is rotten'
[09:28] {shorty} lol
[09:28] {Threei} EU) French Fin Min Lagarde: The EU remains united in its determination to defend the euro
[09:29] {Les} little wonder we didn't have World War 3 with translations like that
[09:30] {dino} ndx gap filled
[09:31] {Threei} Long Setup: LVS .60 break
[09:31] {RonS} ...slow tape...interesting and scary
[09:32] {Threei} if stays above .50
[09:32] {Threei} 1:1
[09:33] {strider} out +.12
[09:33] {Threei} 1:2, out
[09:33] {shorty} Missed it, on the phone.
[09:34] {nemo} I couldn't do it, I've been killed by LVS lately :)
[09:34] {Les} l IRE .86
[09:34] {Threei} CFTC's Gensler: Large volume of orders on May 6 could have confused algorithmic traders on liquidity
[09:34] {Threei} - aiming to review electronic trading platforms to determine whether there are market safeguards in place
[09:34] {Threei} - must ensure trading algorithns do not place a threat to fair markets
[09:34] {Threei} idiot
[09:35] {Threei} (US) SEC's Schapiro: Probing the shorting of ETFs, looking at whether market participants met their obligations during the "flash crash"
[09:35] {Threei} - Looking at consistancy in exchange "self-help" practices
[09:35] {Threei} - Notes she is "deeply concerned" about the effects volitile markets had on retail investors
[09:35] {RonS} nok broke 10
[09:36] {Threei} CME Chairman: Calls on authorities to re-evaluate market-wide equity circuit breakers, calls high-frequency trading an important part of the market - prepared Congressional testimony
[09:36] {Threei} - Warns that regulatory burdens on high-frequency trading may drive business to Europe
[09:36] {nemo} that's impressive LVS morning star followed by an evening star
[09:36] {strider} V strong
[09:37] {nemo} and volatile
[09:37] {Les} teva on this pullback vad?
[09:37] {Threei} crrrrrap
[09:37] {nemo} ?
[09:37] {Threei} was watching X for 47.80 break
[09:37] {nemo} wow
[09:38] {Threei} looked away for a fraction of second
[09:38] {nemo} shoulda' told somebody
[09:38] {Threei} wait for me, I need to go shoot myself
[09:38] {Threei} OK, back
06[09:38] * nemo slaps Threei around a bit with a large lead pipe
[09:38] {Les} out IRE +.13
[09:38] {Threei} ty
[09:38] {nemo} yw
[09:39] {Les} Vad teva .90 break out? or possibly break down?
[09:39] {Les} 2 way play
[09:39] {Threei} breakdown seems better way to me
[09:40] {Les} s .74
[09:40] {Threei} X
[09:40] {Threei} back down
[09:41] {strider} Laser 50% CPU
[09:41] {Threei} half lot long .85
[09:41] {strider} 35-50
[09:41] {Threei} if stays above .70
[09:42] {Threei} invalidated, modofication watch
[09:42] {Les} out teva +.10 ty
[09:42] {Threei} sure
[09:43] {Les} l x .51
[09:43] {Les} out +.11
[09:43] {Les} shit yyyyyyyyyyyyeh
[09:43] {strider} Laser freezing up again.
[09:43] {Threei} fine here
[09:43] {nemo} me too
[09:43] {Les} I feel the need, THE NEED FOR SPEEEEEED!
[09:43] {_york1} Good Morning
[09:43] {strider} few seconds at a time, then breaks free.
[09:43] {nemo} damn dialup
[09:43] {Threei} morning york
[09:44] {nemo} alas poor york
[09:44] {Threei} X is way too fast for timely call at the moment
[09:44] {Threei} possible to play, impossible to call
[09:44] {Les} on the sidelines now. waiting for something solid
[09:44] {nemo} have to go skype
[09:45] {nemo} x
[09:45] {Threei} don't even
[09:45] {nemo} :)
[09:45] {Threei} LVS on watch for a second play
[09:46] {dino} sm l fcx .01
[09:47] {nemo} nice one dino
[09:47] {dino} lucky
[09:47] {dino} up or down?
06[09:47] * nemo slaps dino around a bit with a large horshoe
[09:47] {dino} lol
[09:47] {nemo} oops
[09:48] {Threei} LVS, want to see a sharp drop
[09:48] {Threei} to at least .60 -.65
[09:49] {dino} ups sm l .04
[09:49] {strider} dcc trev
[09:50] {Threei} LVS got away this time
[09:50] {Threei} breakout was last thing opn my mind, honestly
[09:50] {Threei} just not a good risk/reward
[09:52] {strider} nemo, dcc
[09:52] {dptl} l sid .77
[09:52] {Threei} BP,
[09:52] {nemo} strider dcc
[09:52] {Threei} pullback to about .70 for long
[09:53] {nemo} I was thinking about rimm break of .10 but didn't like the .20 stop
[09:55] {shorty} Threei, ARUN. Slow though.
[09:56] {Threei} BP, a bit more
[09:57] {Les} teva .80 break
[09:57] {Les} ?
[09:57] {Threei} I doubt it
[09:58] {Les} ok
[09:58] {Threei} ok, BP, watch for stabilization and recross
[09:58] {Threei} synchoronize with SPY
[09:59] {strider} recross .80?
[09:59] {Threei} yes
[10:00] {Threei} this one no go
[10:00] {Threei} need anopther range
[10:01] {Threei} US) APRIL LEADING INDICATORS: -0.1% V 0.2%E
[10:03] {dptl} stopped sid -.10
[10:04] {Threei} where did you get that SID...
[10:04] {dptl} .77
[10:04] {Threei} not what I mean, lol
[10:04] {Threei} just some strange play, totally out of character of the market at the moment
[10:05] {nemo} wow v
[10:05] {dptl} looked ok consol. and then broke
[10:05] {Threei} yes... but is it a breakout market?
[10:06] {dino} out fcx .clf sm l .75
[10:07] {shorty} looking at UPS dino, I am not in, but nice one.
[10:07] {dino} ty
[10:07] {dino} fcx out was .65, +.64
[10:07] {larisa} it was perfect entry on FCX
[10:08] {nemo} bounce right at pivot support
[10:08] {shorty} I picked a bad morning not to follow you. I had good reason, I have to leave soon.
[10:08] {dino} out ups .44
[10:08] {dino} +.40
[10:09] {dino} clf stopped -.31
[10:09] {Threei} TM US auto safety official: no evidence of continuing accelearation problems after fix
[10:09] {Threei} like I said... they throw stuff at the ewall and see what sticks
[10:10] {Les} bp has that sinking feeling
[10:10] {Les} get it? sinking...
[10:10] {dptl} xlnx?
[10:10] {Threei} market seems to be preparing for breakdown and whoosh
[10:10] {jfjf64} met s
[10:11] {Les} breakdown and woosh as in bounce?
[10:11] {Les} or whoosh down?
[10:11] {Threei} down
[10:11] {jfjf64} hold .65
[10:11] {Threei} that's the toilet sound
[10:11] {dino} lol
[10:11] {jfjf64} 5 min
[10:12] {nemo} s .48 jf?
[10:12] {jfjf64} y
[10:12] {jfjf64} lv trend line
[10:13] {dptl} xlnx?breakdown?
[10:13] {Threei} no idea
[10:13] {nemo} got outside inside Bollingers now jf
[10:13] {dptl} short xlnx .59
[10:13] {Les} ditto dp
[10:14] {dino} lod
[10:14] {jfjf64} yeahhhhhhhhhhhhhhhhhhh
[10:15] {dptl} out +.10
[10:15] {shorty} That was fun. TY dptl
[10:15] {Threei} MET's nice too
[10:15] {jfjf64} +14 met
[10:16] {jfjf64} nemo ya with me
[10:16] {Threei} cool beans... I throw in next market direction, you find plays
[10:16] {nemo} yep, ty
[10:16] {Threei} see the woosh? hear the woosh?
[10:16] {nemo} feel the whoosh, be the whoosh
[10:16] {Threei} lol
[10:16] {jfjf64} sellllllllllllllllllllllllll
[10:17] {nemo} you mean buy
[10:17] {nemo} ?
[10:17] {Threei} it's far from over
[10:17] {Threei} little bounce, then another leg down
[10:17] {Threei} btw, for scalp type I players, see TZA,
[10:17] {Threei} inverted ETF
[10:18] {Threei} long on market breakdowns
[10:18] {jfjf64} look at met
[10:18] {dino} who is john galt?
[10:18] {Threei} MET is a beaut
[10:18] {jfjf64} im a dope
[10:18] {nemo} why?
[10:19] {jfjf64} sold to early
[10:19] {Les} out xlnx +.18 nice score dp ty
[10:19] {magoo} V wont fa;ll
[10:19] {dptl} :)
[10:19] {Threei} wtg guys
[10:19] {dino} gj
[10:19] {Les} wow teva cliff dive
[10:20] {strider} out BP short cover +.20 +.30
[10:20] {nemo} wonder if they'll be hitting the circuit breakers today :)
[10:21] {Threei} wtg strider
[10:21] {strider} ty:)
[10:21] {Threei} who outtaxes whom:
[10:21] {Threei} (US) Congressional Democrats propose $0.08 increase in oil spill fee
[10:21] {Threei} - Reminder: on 05/12 the US administration proposed a tax increase of $0.01/bbl on US oil to bolster fund for oil spill clean up operations; would raise tax to $0.09 from current $0.08/bbl tax.
[10:21] {dino} fdx sm l .tax tax tax
[10:22] {dino} .00 fdx sm l
[10:24] {nemo} oh boy, hitting the double diamond slopes now
[10:25] {dino} b=day
[10:25] {nemo} ?
[10:25] {dino} -317
[10:25] {nemo} look at the vix
[10:25] {strider} V holding
[10:25] {dino} fcx sm l .65
[10:26] {nemo} yeah, watch that be a bull flag
[10:26] {nemo} dino, fcx probably dropping to 62.80 or so
[10:27] {dino} thx
[10:27] {larisa} good way to boost confidence after dino already entered :)
[10:28] {dino} :O
[10:28] {larisa} lol
[10:28] {nemo} having said that, lotta' volume came in on the spy so, maybe a bottom
[10:29] {nemo} Lari, I don't think Dino has issues with confidence
[10:29] {Threei} temporary at least, seems to be here, yeah
[10:31] {dino} giddy-up time
[10:31] {Threei} GE) German Fin Min: Need orderly insolvency procedure for member States
[10:31] {Threei} - Cannot have an EU aid package everytime
[10:32] {Threei} (GR) IMF: It could take some time before the markets understand Greece measures are credible
[10:32] {Threei} - notes that the current level of the Euro is not a problem (related EUR/GBP EUR/USD NBG EUR/JPY EUR/GBP EUR/CHF )
[10:33] {shorty} Threei, am I able to test out Laser? Demo version.
[10:33] {nemo} yeah, but it's not real-data
[10:33] {Threei} ask lasertrev
[10:33] {strider} yes, real data
[10:34] {Threei} GE) German SPD opposition party: Planning to abstain from vote on Euro bailout package tommorow
[10:34] {shorty} Threei, do you know if the 25k rule applies to us Canadians?
[10:34] {Threei} no
[10:34] {shorty} ok thanks.
[10:34] {Threei} unless you trade via US-based broker
[10:35] {shorty} I am right now.
[10:35] {Threei} then it depends on their status
[10:35] {Threei} retail broker will aply 25K rule, prop will not
[10:36] {dino} ups sm l .75
[10:36] {shorty} Will see you guys in a bit.\
[10:36] {Threei} EU) ECB's Stark: Should not use monetary policy tools to deal with financial stability problems
[10:36] {Threei} - german ban on naked shorting was intended to show that the Govt was taking action, not surprised by market reaction
[10:37] {Threei} by what reaction?
[10:39] {Les} widening spreads on debt I guess
[10:39] {Threei} so how's the first half of sentence connecting to second?
[10:40] {Threei} ban on naked shorting was intended to show that the Govt was taking action
[10:40] {Threei} OK, govt took action
[10:40] {dino} out fcx flat
[10:40] {Threei} not surprised by market reaction
[10:40] {Threei} on negatuive side?
[10:40] {Threei} so govt failed to show anything?
[10:40] {Threei} shrug
[10:40] {Les} are the soundbites related, or is reuters just taking bits of a speech and mixing them togethor?
[10:44] {Threei} Long Setup: LVS .25
[10:44] {Threei} if stays above .15
[10:46] {strider} inval?
[10:46] {Threei} 1 cent...
[10:46] {Threei} discretionary
[10:47] {magoo} in
[10:47] {Threei} not a scalp for me
[10:48] {magoo} im with ya
[10:48] {Threei} ok, then the plan is:
[10:48] {Threei} half out between .35 and .40
[10:48] {Threei} 1/4 around .45
[10:48] {Threei} and last piece for something like .60
[10:49] {Threei} stop is still under .15
[10:50] {dino} whr sm l .86
[10:54] {Threei} 1:1 for scalpers
[11:00] {dino} whr stopped
[11:04] {magoo} vad, LVS taking a long time here..thoughts?
[11:04] {Les} someone kick this scumbag of a casino
[11:04] {Threei} no thoughts
[11:04] {Threei} just letting it resolve
[11:04] {Threei} whichever way it chooses
[11:05] {Threei} it hit .36 for scalpers
[11:05] {magoo} i knew u say that
[11:05] {Threei} it didn't hit neither target or stop for, ummm... let's call them inwestors
[11:05] {Les} slowly negotiating 50 ma lvs
[11:06] {Les} you wanna tighten stop to .20?`
[11:06] {dino} ctrp sm l .53
[11:07] {Threei} first target hit fir inwestors
[11:07] {Threei} for
[11:07] {Threei} 1/2 out
[11:08] {Threei} and now yes, stop to under .20
[11:08] {Threei} TTIL Israeli press reports TTIL could get an offer in the $50-60M range
[11:08] {Threei} - Reminder: earlier today TTIL confirmed it was in takeover talks
[11:10] {Threei} by the book stop can be trailed to b/e at this point
[11:11] {dptl} pgn?
[11:11] {Threei} see 11:06, bottom of the bull flag
[11:12] {Threei} that resolved into long green bar
[11:13] {Threei} not sure about PGN
[11:14] {dptl} l chs .01
[11:18] {Threei} CNBC: Democrats claiming they have a deal on financial reform with votes necessary for cloture
[11:19] {Threei} that's why mr. Reid voted against his own motion yesterday?
[11:23] {Threei} sheesh BP
[11:24] {larisa} is sheesh opposite to whoosh ?
[11:24] {nemo} no
[11:24] {larisa} oh
[11:24] {shorty} Back, anything good?
[11:24] {magoo} RIG now too
[11:26] {Les} sm l v .02
[11:28] {Threei} second target hit
[11:29] {Threei} 1/4 more put
[11:29] {Threei} no more trailing for now, stop for the last piece is still b/e
[11:30] {Threei} who deserves a title Patient Inwestor today, raise your hands
[11:30] {strider} does an InEaster count?
[11:31] {Threei} hmmm
[11:31] {Les} I sold lvs long time ago
[11:31] {Threei} I need to give it some thoughts, but that usually provokes migraines
[11:31] {Les} out v +.31
[11:32] {magoo} out high .40's vad TY
[11:32] {Threei} welcome sir
[11:33] {nemo} Interesting, bot the Qs and SPY bounced at pivot S3
[11:34] {dptl} out chs +.05 scrud up a bit
[11:38] {Les} do I get 'slightly patient investor' award for selling too soon?
[11:38] {strider} was +.12 on CHS. thanks dp
[11:38] {dptl} :)
[11:40] {shorty} SPLS Threei?
[11:40] {Threei} water torture stock
[11:40] {shorty} lol
[11:41] {Threei} Les... investor? what's that?
[11:41] {Threei} closest thing we have here is inWestor
[11:42] {Les} oh? I'm not in the loop on this joke...:(
[11:43] {Threei} it's easy
[11:43] {Threei} we don't believe in investing, and we need to give some name to what lies beyind our usual scalping patience
[11:44] {Threei} - Administration is seeking to keep language on derivatives broad enough that the major banks could move the business to a subsidiary without completely exiting the business.
[11:44] {Threei} ahha
[11:44] {Threei} reform without reform
[11:44] {Threei} that'll work well
[11:45] {nemo} Potemkin reforms
[11:45] {Threei} sheesh
[11:45] {nemo} ?
[11:45] {Threei} took words out of my mouth
[11:45] {nemo} :)
[11:45] {Les} potemkin reforms. don't know this phrase. meaning what?
[11:45] {Threei} I was just typing Potemkin village
[11:45] {RonS} Mandy?
[11:45] {nemo} scary ain't it
06[11:45] * nemo slaps RonS around a bit with a large Russian History Book
[11:45] {Threei}
[11:46] {RonS} i know...:D
[11:46] {dptl} lol nemo
[11:46] {nemo} now....about Catherine and the horse....
[11:46] {Les} aaaaah. was thinking of the battleship potemkin...
[11:47] {RonS}
[11:47] {Threei} lol
[11:47] {nemo} that guy can never stay in a TV series more than 2 years
[11:47] {Threei} great actor btw
[11:47] {nemo} yes
[11:48] {Threei} ok, last part LVS, still same stop
[11:48] {Threei} still same target
[11:48] {Threei} no risk at all at this point, playing with house money
[11:49] {Threei} chart lost clarity,
[11:49] {dino} out fdx .77, +.77
[11:49] {Threei} no read at all, simply letting it play out since risk is zero
[11:49] {Threei} wtg dino
[11:49] {dino} took awhile
[11:50] {strider} dino, you lucky guy.
[11:50] {Threei} good things usually do
[11:50] {Threei} Denmark PM Rasmussen: no plans for a Danish referendum on Euro entry before Nov 2011
[11:50] {Threei} lol
[11:50] {Threei} translation: if Euro still exists then, we will see aboput that
[11:53] {dptl} hpq short?
[11:53] {dptl} ah to late
[11:54] {Threei} well
[11:54] {Threei} stop would have to be above .10
[11:54] {dptl} ye
[11:54] {Threei} just wait for it to return to trigger, or cut shares a bit
[11:54] {Threei} setup is 'valid
[11:54] {Threei} here it is again
[11:55] {dptl} in .99
[11:55] {Threei} it follows market in a lockstep, so borader market will decide the fate if this one
[11:55] {Threei} broader too
[11:56] {Threei} looks good, and I would treat it as a day trade
[11:56] {Threei} not a scalp
[11:56] {Threei} partial around 1:1
[11:56] {nemo} support at .85
[11:56] {Threei} trail stop couple cents above breakeven
[11:57] {dptl} out some +.10
[11:57] {Threei} last bounce topped at 46.02, so stop would be .03
[11:58] {Threei} let it trade, IMO
[11:58] {Threei} bid 1/4 more around .82
[12:01] {Threei} next leg down is coming
[12:02] {Threei} stay alert for the whoosh sound
[12:03] {Threei} which is opposite to sheesh sound
[12:03] {Threei} there
[12:03] {Threei} 1/4 more out
[12:03] {dptl} all out .79
[12:03] {Threei} last portion is closer to .70
[12:04] {Threei} you are not a patient inwestor, dp
[12:04] {Les} sweet stuff dp. late to the party, but out +.16.^
[12:04] {dptl} :)
06[12:04] * Threei slaps dptl around a bit with a large dose of patience in a bottle
[12:04] {shorty} I am patient, still waiting on an entry.
[12:04] {Threei} huh?
[12:04] {nemo} patience?
[12:05] {dptl} lol...
[12:05] {Threei} entry was 46 breakdown
[12:05] {nemo} she's in Thailand, or China
[12:05] {Threei} speaking of patience, she should have been returned yesterday
[12:05] {nemo} maybe the enveloped
[12:06] {Threei} been returned?
[12:06] {nemo} bastardization of "eloped"
[12:06] {Threei} give me a credit for excpetional ability to screw up the setence beyond all recognition
[12:06] {nemo} yeah, congrats
[12:06] {Threei} ty
06[12:06] * Threei takes a bow
[12:07] {shorty} lol
[12:08] {Threei} so, Mexican president pushes US Congress for comprehensive immigration reform, and bashes Arizona law
[12:08] {Threei} what's wrong with this picture...?
[12:12] {Threei} X
[12:12] {Threei} half lot play
[12:12] {Threei} short .75
[12:13] {Threei} if stays below .85
[12:15] {Threei} 1:1
[12:15] {Threei} nice and easy
[12:15] {strider} out +.12
[12:15] {shorty} ty Threei
[12:15] {Threei} HPQ last target hit
[12:15] {Threei} out in full
[12:15] {Threei} X1:2, out in full
[12:21] {Threei} you all fell asleep?
[12:21] {shorty} Not yet
[12:21] {Threei} {--- looking for an excuse to do the same
[12:22] {shorty} Are you trading on Monday Threei?
[12:23] {Threei} why wouldn't I?
[12:23] {shorty} Just wondering, being the long weekend.
[12:23] {Threei} what religion forbids trading on Mondays?
[12:23] {nemo} Isn't that next week?
[12:23] {shorty} For the US
[12:24] {nemo} Memorial Day is the 31st
[12:24] {Threei} May 31 Memorial Day Closed
[12:25] {Threei} May 24 is usual trading day
[12:26] {shorty} Thought I would plan my trading and family time on Monday.
[12:28] {Threei} even news slowed down to a crawl
[12:28] {Threei} 15 min, no single headline
[12:30] {Les} BP on watch for 45 b/d
[12:30] {Threei} AMTD Hearing customers currently unable to access online accounts (17.84, -0.57, -3.10%)
[12:30] {Threei} 45??
[12:31] {Threei} les... are we in the same universe? :)
[12:31] {nemo} 200 ma vad
[12:31] {Les} The latest glimpse of video footage of the oil spill deep under the Gulf of Mexico indicates that around 95,000 barrels, or 4 million gallons, a day of crude oil may be spewing from the leaking wellhead, 19 times the previous estimate, an engineering professor told Congress Wednesday
[12:31] {Les} why?
[12:31] {nemo} Vad.....remember who you're talkin' to
[12:31] {Les} not a setup
[12:32] {Les} just watching for 45 b/d. 45 is also 200ma support.
[12:32] {Threei} stock being 20+ cents from there, surely you can find better entry than that
[12:32] {Les} aaaaaaaaah
[12:33] {Threei} plus absence of qualifier folr how it gets there
[12:33] {Threei} makes whole thing kind of useless theoretical exercise
[12:34] {Threei} and yes nemo, I know Les is Martian
[12:34] {shorty} See you guys. Picking up family at airport. Hopefully I can be here for the close.
[12:34] {Les} I'm good for the day. BP breakdown of 45 would constitute icing on cake. IMO, BP is going down
[12:34] {Threei} but still, setups should be uniform across known Universe
[12:34] {Threei} take care shorty
[12:34] {Les} oh piss off the pair of yous :)
[12:35] {nemo} frickin' sheila
[12:35] {Threei} hmmm... one could have thought they were rude on mars
[12:35] {Threei} but then, fern is from Mars too and he is the nicest guy possible
[12:35] {nemo} Men are from Mars Vad (Les is from Venus)
[12:35] {dptl} lol
[12:36] {Threei} I'll refrain from comments
[12:36] {Threei} you tweo duke it out
[12:36] {Les} lol
[12:37] {Les} you lookin for a frikkin flaming war are you NEMO!!!!!!!!!!!
[12:37] {Threei} lol, as far as I know nemo - always
[12:37] {RonS} Les going dawg
[12:38] {Threei} BP started forming something
[12:38] {Les} ain't what I was looking for, but I'll take it. .25 break?
[12:38] {Les} crap
[12:38] {Threei} .25 break ruins short setup,
[12:39] {Threei} whether it froms long one, not so sure
[12:39] {Threei} let's wait for a bit,, unclear moment for the market overall
[12:39] {Threei} I am niot ready to switch to longs yet here
[12:40] {Threei} but dontrend line is on the verge of being broken
[12:40] {Threei} downtrend
[12:42] {Threei} Long Setup: X .50 break
[12:42] {Threei} if stays above .35
[12:43] {Threei} also,
[12:43] {Threei} IF market spikes sharply while X is still here,
[12:43] {Threei} grab it aggressively
[12:44] {Threei} (GE) Germany Chancellor Merkel and France PM Sarkozy have agreed to jointly prepare for the EU and G20 meetings
[12:44] {Threei} writing cheatsheets for each other?
[12:44] {nemo} What are they going to do, dress each other
[12:44] {nemo} invalumidated
[12:44] {Threei} X invalidated for now
[12:45] {Threei} not off the radar though
[12:45] {Threei} some modifcation may be in order
[12:45] {Threei} also, BP sharp pullback
[12:46] {magoo} nice move LVS
[12:47] {Threei} OK, marlet more and more looks like getting ready for an upward thrust
[12:47] {Les} ?
[12:48] {Threei} which part?
[12:48] {Les} up
[12:48] {Threei} what about it?
[12:48] {Les} nothing
[12:48] {Les} i just got hammered on bp
[12:48] {Threei} look at SPY 1 min
[12:49] {Les} seen
[12:49] {nemo} quasi inverted H&S\
[12:49] {Threei} if holding above .30 and breaks .50, sets a stage for a trend change
[12:49] {Threei} and why were you in BP in a first place??
[12:49] {Les} good question
[12:51] {Threei} loss of .30 for SPY invalidates long
[12:51] {nemo} loss, capitualation
[12:51] {Threei} not sure
[12:52] {Threei} just no ternd change yet
[12:52] {Threei} trend either
[12:52] {dino} feels like they want the 10k strike
[12:54] {Les} selling vol bp
[12:55] {Threei} US) US President Obama to formally announce new fuel effeciency standards in announcement scheduled for tommorow
[12:55] {Threei} - Note: Last year the Adminstration set standards at 27.3MPG to take effect on 2011 models
[12:55] {Threei} GE) ECB's Wellink: Germany should have consulted other countries on naked short selling ban
[12:55] {Threei} yeah, how dare you do something in your country without asking us
[12:57] {dptl} unm?
[12:58] {Threei} don't know UNM'
[12:58] {Threei} major support on daily
[12:58] {Threei} don't likel conflict between timeframes
[12:59] {dptl} yes was holding well ,but now broke...was thinking long
[13:00] {dptl} well.... back to waching movie :)
[13:00] {dino} 5/6 lows 9869, 1752, 1065
06[13:01] * Threei send dp a bag of popcorn
[13:01] {dptl} lol...thanx
[13:02] {Threei} Long Setup: X on pullback to .50
[13:02] {Threei} as close to it as you can get
[13:02] {Threei} half lot
[13:02] {Threei} .35 stop
[13:05] {Threei} didn't give us a chance...
[13:15] {dino} sm l fcx .50
[13:18] {dino} fdx sm l .75
[13:23] {nemo} indices running up 200 ma, that's been the resistance all day
[13:25] {Threei} bounce occured without setup I could read
[13:26] {Threei} oh well
06[13:26] * strider slaps Threei around a bit with a large pair of reading glasses
[13:26] {Threei} those may be handy
[13:28] {magoo} WOW
[13:28] {dino} took awhile, out ups .20, +.45
[13:28] {nemo} what mags
[13:31] {magoo} just the power of the bounce
[13:31] {magoo} right when death was upon us all
[13:33] {Les} IB or java crapped itself. I think its IB. had to reboot. not cool. fat finger strikes again...
[13:33] {Les} with that huge drop, IB starting getting sloppy again
[13:37] {Threei} well, imagine 2008 fall trading
[13:37] {Threei} with 600-700 points ranges, lol
[13:37] {nemo} I remember
[13:37] {Les} was Laser up to the task?
[13:38] {Les} how goes the new laser now?
[13:38] {nemo} rig weak in this rally
[13:38] {Les} asked Trev for a demo pass
[13:38] {dino} out fcx .25,
[13:39] {dino} +.75
[13:39] {Threei} wtg
[13:39] {Les} sweet
[13:39] {Threei} laser was fine
[13:39] {dino} thx
[13:39] {Les} well happy to learn now and be ready for next bout of big volatility
[13:44] {strider} Got to run a few errands, guys. See you before the close, I hope.
[13:47] {dino} out fdx .out fdx .40,
[13:47] {dino} +.65
[13:49] {Les} ciao st
[13:49] {dino} cya strider
[13:49] {Threei} lol dino
[13:49] {Threei} neverending story eh
[13:54] {Threei} BIDU
[13:54] {Threei} watching for long on 68 break
[13:55] {Threei} half lot,
[13:55] {Threei} want to see a range forming close enough for a tight stop
[13:55] {Threei} so far support is .80 - .85
[13:56] {Threei} invalidated for now
[13:56] {Threei} not off the radar
[13:58] {Les} damn missed RIG .50
[13:58] {Les} but caught BP short at .93
[13:59] {dptl} fl?
[14:00] {Threei} I doubt it
[14:00] {dptl} ok ty
[14:01] {Threei} General Electric Co US Defense Sec Gates: President Obama supports the threat of veto against the second GE engine for F-35
[14:01] {Threei} - Note: Rolls Royce and GE both have submitted possible engines for the F-35 aircraft; with some legislators supporting the use of both despite increased costs
[14:01] {Threei} what a werid story
[14:02] {dptl} exh short?
[14:03] {dptl} short .29
[14:04] {dptl} stop above .40
[14:06] {Les} cover bp +.28
[14:07] {Threei} 50/50 dp
[14:07] {Threei} where do you find all this weird stuff
[14:07] {dptl} scanner
[14:08] {Threei} what scanner?
[14:08] {Threei} laser's?
[14:08] {dptl} dbi
[14:09] {Threei} INTC CEO: Expects Google TV to drive a multi-million chip opportunity for Intel - CNBC inteview
[14:09] {Threei} - Reiterates Intel already has over 1M orders for chips to be used by the Google TV product
[14:11] {dptl} stopped
[14:11] {dptl} -.12
[14:12] {Les} laser has scanner? cool
[14:12] {nemo} Hi patience!
[14:12] {patience} hey, how's trading?
[14:13] {Threei} PATIENCE!!
[14:13] {Threei} welcome back!
[14:13] {patience} vaddy!!
[14:13] {patience} good to be home, spent the last week in downtown Bangkok
[14:13] {nemo} oy vay
[14:13] {Threei} sheesh
[14:13] {Threei} talk about timing
[14:17] {magoo} L bidu .98
[14:18] {dino} market wants green close
[14:18] {Threei} lol
[14:19] {nemo} right
[14:19] {Threei} it may want whetever, not going to happe
[14:20] {Les} l bp 45
[14:20] {Threei} tough one mags
[14:20] {Threei} entry into spike
[14:23] {dino} fxe rocking(euro)
[14:24] {Threei} half out mags
[14:24] {Threei} BIDU
[14:24] {Les} nice
[14:26] {magoo} out full ty vad, nce easy
[14:26] {dino} ctrp sm l .40
[14:32] {magoo} weird, mkt feels strong BUt its crushed 250 points
[14:33] {Threei} it hasn't crashed... it made a planned orderly retreat to prepared in advance positions
[14:34] {magoo} rushed not crashed
[14:34] {magoo} crushed
[14:34] {magoo} crushed
[14:34] {Threei} dp, stop pouring vodka for him
[14:35] {dino} magoo, thats because we are in day 3 of 1 now
[14:35] {magoo} huh?
[14:36] {magoo} 3 of 1?
[14:39] {Threei} Senate begins procedural cloture vote on financial reform bill; 60 votes needed to end debate and move bill forward
[14:39] {Threei} EU) IMF's Strauss-Kahn: Europe's house is not in order, but also does not believe Euro Zone risks are exploding
[14:39] {Threei} - highlights that a common currency cannot exist unless budget decisions are made together
[14:39] {Threei} there
[14:39] {Threei} key words are finally spoken
[14:39] {Threei} was is that hard to admit?
[14:42] {dptl} mwv break?
[14:42] {Les} not sure he's admitting
[14:42] {Threei} probably, yes
[14:42] {Threei} - follow up: Senator Brown (R-MA) flips vote to yes; voting continues
[14:42] {Les} but daring to suggest to parliaments
[14:42] {Threei} this les:
[14:42] {Threei} common currency cannot exist unless budget decisions are made together
[14:43] {dptl} missed
[14:43] {Threei} it was one of my major peevees with whole concept of Euro
[14:43] {Les} aah
[14:43] {Les} sounds like economist suggesting to politician what needs to be done
[14:43] {Threei} you have common currency but members have separate policies?
[14:43] {Threei} good luck with that
[14:44] {Threei} so next question is: can you unify policies?
[14:44] {dptl} long .85 mwv
[14:44] {Threei} no chance in hell
[14:44] {Les} voilĂ 
[14:44] {Threei} ergo - EMU is stillborn
[14:44] {Les} Germans and Greeks agreeing?
[14:44] {Les} never
[14:44] {dptl} stop under .75
[14:44] {Threei} of course it's mor complicated than that,
[14:44] {Threei} but to put it succinctly...
[14:46] {larisa} but now Greeks are thinking about cutting down government payments to chronic alcoholics who do not want to get treatment :) so.. first step!
[14:46] {larisa} this country fascinates me
[14:47] {Threei} no way larisa
[14:47] {Threei} not going to happen
[14:48] {larisa} alcoholics will still get minimum wage just for drinking ? moving to Greece then
[14:49] {Threei} yes, and govt will additionally finance stuff to deliver drinks to them, taking away empties etc,
[14:49] {larisa} TSL is making earnings run
[14:49] {dino} greece was like a club med
[14:49] {nemo} quite the range today
[14:50] {Threei} BIDU is where I wanted to sell in full
[14:50] {Threei} but magoo didn't wait for me
[14:50] {Threei} that hurts
06[14:51] * Threei slaps magoo around a bit with a large frozen trout withj jagged edges
[14:51] {dino} nasty
[14:51] {Threei} that's my middle name
[14:52] {Threei} watching BP for short
[14:52] {magoo} and some scalpers regrett sauce plwease
[14:53] {Threei} Short Setup: BP 45 break if stays under .10
[14:53] {dino} we're going green
[14:53] {Les} v might run. ma is up
[14:53] {dptl} out mwv +.10
[14:54] {dptl} in bp
[14:54] {dptl} .98
[14:54] {Threei} not a scalp
[14:56] {Threei} bid half .88 or so
[14:56] {Threei} 1:1
[14:56] {Threei} hit
[14:56] {Threei} half out
[14:56] {dptl} half out
[14:56] {dino} out ctrp .95, +.55
[14:56] {Threei} stop to just abive 45
[15:00] {nemo} geez dino, you said we're going green and the market did an about face
[15:00] {nemo} Anyway, I'm off c u in the morrow. Get some sleep Patience
[15:00] {Threei} take care nemo
[15:00] {larisa} bye nemo, we are going green..
[15:01] {Threei} you mean now that he left?
[15:01] {nemo} not gone yet
[15:01] {nemo} now I'm gone
[15:01] {larisa} he always waits for me to say good bye
[15:01] {Threei} ok, NOW we are going green
[15:03] {Threei} BIDU
[15:03] {Threei} short half lot .90 break
[15:05] {Threei} (UK) UK PM Cameron: It is in the UK's interests for the Euro to be a success
[15:05] {Threei} why?
[15:06] {Threei} US) US Treasury Dept declines comment with regards to possible intervention in the Euro
[15:06] {Threei} 1:1, half cover
[15:06] {magoo} covered .59 FL ty
[15:06] {Threei} 1: I don't know how much
[15:07] {Threei} covered in full too
[15:07] {magoo} 3yea
[15:07] {magoo} was 1k
[15:07] {magoo} so took it
[15:07] {Threei} some trades are almost shame to make... like shooting fish in a barrel
[15:08] {magoo} i mean .91 - .59 = um, er.??
[15:08] {magoo} uh
[15:08] {Threei} hmmm
[15:08] {Threei} wait
[15:08] {magoo} hmmm
[15:08] {Threei} let me whip out the calculator
[15:09] {magoo} well??
[15:09] {Threei} wait... not that simple'
[15:09] {Threei} need to run Riemann hypothesis
[15:10] {Threei} so... g(k) and G(k)....
[15:10] {Threei} 3n + 1 conjecture...
[15:10] {Threei} e - 1 / 2....
[15:10] {magoo} $140? nope, thats not right
[15:10] {Threei} nooo
[15:10] {Threei} 22n + 1 composite for n } 4
[15:11] {Les} egghead, what are you calculating vad?
[15:11] {Threei} 15:08] {magoo} i mean .91 - .59 = um, er.??
[15:11] {Les} thought trading was grade 3 maths?
[15:11] {Threei} not when it comes to magoo
[15:11] {Threei} polyhedral combinatorics must be applied
[15:12] {dptl} ah..all out bp ty
[15:12] {Threei} lol
[15:12] {Threei} coward
[15:12] {dptl} roflol
[15:12] {Les} I want more. was doing tea and missed the drop earlier
[15:12] {Les} in bp
[15:12] {Threei} bidding 1/4 more .78
[15:15] {Threei} hit
[15:15] {dptl} tsk tsk...figures
[15:15] {dptl} :)
[15:15] {Threei} shrug
[15:15] {Threei} stay cool
[15:15] {Threei} let market work its magic
[15:15] {dptl} lol
[15:15] {Threei} don't intervene with nmatural patterns
[15:16] {Les} all out ty
[15:16] {Threei} which is abother way of saying, don't pee against the wind
[15:16] {Les} noooooooooooooooo
[15:16] {Threei} out in full
[15:16] {Threei} .70
[15:16] {Les} oh good don't feel so cheated
[15:16] {Threei} learn frikin Taoism
[15:17] {Les} ?
[15:17] {Threei} if lazy, wait for me to finish this next book
[15:17] {Threei} and I am sure mty last
[15:17] {dptl} got to get this book
[15:17] {Les} hey I have a taoist book. let me find it
[15:17] {Les} here
[15:17] {dino} sheesh, i go to bus stop, we drop 50
[15:17] {Les} The Tao of Pooh and Te of Piglet
[15:17] {Threei} lol dino
[15:17] {larisa} do not worry dino, if you apply polyhedral combinatorics to -250, we are green
[15:18] {Threei} that's actually good point
[15:18] {Threei} but Infinite Ramsey theorem spills different light on it
[15:18] {dino} ;) the days not over yet
[15:19] {Threei} it's very simple actually, think of it like this:
[15:19] {Threei} Let X be some countably infinite set and colour the elements of X(n) (the subsets of X of size n) in c different colours. Then there exists some infinite subset M of X such that the size n subsets of M all have the same colour.
[15:19] {Threei} thus, green or red...
[15:19] {Threei} who cares
[15:19] {Les} got anything in black?
[15:20] {Threei} of course, it's just another subset of M
[15:21] {Les} you never told me you were a geek
[15:21] {Les} I want a refund please
[15:21] {Threei} I didn't want you to feel inadequate
[15:21] {Threei} realization that all girls are mine can be hurtful, you know...
[15:22] {Les} hehehe
[15:22] {Les} ok
[15:22] {Les} swoooosh goes the meatgrinder
[15:22] {Threei} hmmm
[15:22] {Threei} US) US President Obama to make announcement on the Wall Street reform legislation at 4:20pmET
[15:24] {Threei} RMBS Reportedly sees decision on case against NVDA and Hynix next week (23.57, +0.07, 0.30%) (related NVDA )
[15:25] {strider} .
[15:26] {Threei} strider,
[15:26] {Threei} for you mental heal;th sake,
[15:26] {strider} yes
[15:26] {Threei} don't even think of scroling through everything that happened while you were away
[15:26] {Threei} RMBS Reportedly sees decision on case against NVDA and Hynix next week (23.57, +0.07, 0.30%) (related NVDA )
[15:26] {strider} awwwww!
[15:26] {Threei} oops, wrong paste
[15:26] {Threei} (US) House Speaker Pelosi: Tax extenders bill, including new tax on fund managers, to be taken up next week
[15:26] {Threei} - Confident that House Democrats have the votes they need to pass tax extender bill.
[15:27] {Threei} tax them out of this universe, damn bastards
[15:27] {Threei} how dare they make money
[15:30] {Les} here's my friend, waiting for the RMBS decision to retire a millionaire
[15:31] {Les} maybe he'll get lucky
[15:32] {Threei} US) Fed's Tarullo: Fed swap actions are not designed to bail out anyone, least of all Greece
[15:32] {Threei} - Fed is not considering any further options to aid Europe
[15:33] {Threei} further?
[15:33] {Threei} it sounds like "we haven't helped them, and not going to help any more"
[15:33] {Threei} not only I never beat my wife, I am not goling to beat her ever again
[15:35] {Les} that's too much information
[15:35] {larisa} further has many meanings than that vad :)
[15:35] {larisa} many more
[15:36] {Threei} well, then those nuances are too subtle for me :)
[15:36] {Threei} but what else is new
[15:36] {Threei} my preferred depth of language use is: tree good, fire bad
[15:37] {Threei} les, thar's actually a reference to a well know casuistic way to shape up the question
[15:37] {Threei} "when did you stop beating up your wife/"
[15:44] {dino} hmmm
[15:44] {Les} wow new word learnt
[15:44] {Les} casuistry
[15:45] {Les} first time you made me pull out the english dictionary vad
[15:45] {Les} not bad
[15:45] {Threei} see... geek
[15:46] {Les} double geek
[15:46] {Threei} ugh
[15:46] {dino} going for lod
[15:46] {Threei} had this nagging idea that finnies should sell hard into close
[15:46] {Threei} with this Obama statement ahead
[15:47] {Threei} but it looked so obvious, I didn't feel easy about trading on such evident thing
[15:47] {Threei} look at WFC
[15:50] {dptl} good evening all...see ya tomorrow
[15:50] {Threei} where do you think you are going?
[15:50] {Threei} 10 min more of suffering
[15:51] {Threei} sit here and suffer with us
[15:51] {dptl} lol...
[15:51] {dptl} ok...FINE
[15:51] {larisa} bye all :)
[15:51] {Threei} see what you started dp?
[15:51] {Les} ciao larisa
[15:51] {Threei} bye larisa :)
[15:52] {dino} cya lari, dp
[15:53] {dptl} .
[15:55] {Threei} -328
[15:56] {dptl} are we gonna test that low tomorrow?9833?
[15:56] {Threei} WFC... toothache in the heart
[15:56] {Threei} surely looks like that
[15:58] {dino} ugly
[15:59] {Threei} well... depends
[15:59] {Threei} we had fun day
[16:00] {dino} lots of pain out there
[16:00] {Threei} certainly
[16:00] {Threei} and more ahead
[16:01] {Threei} thank you all
[16:01] {Threei} have a good evening, see you tomorrow
[16:01] {Les} ciao
[16:01] {Les} you too
[16:01] {strider} a la manana, vad.