Monday, June 21, 2010

Jun 21 2010

Steady and profitable day, as market hasn't stalled after the gap, and opportunities were around on both sides. No good educational chart though - LVS long in the morning and MON short closer to end of day (15:07) were as close as possible but kind of way too standard setups, I've shown this kind quite a few times already.

Session Time: Mon Jun 21 00:00:00 2010
[08:18] {hawk} good morning
[08:19] {Threei}  good morning
[08:19] {Threei}  another big gap eh
[08:19] {hawk} vad :)
[08:19] {hawk} of course
[08:19] {Threei}  (US) Meredith Whitney: Sees rough second half of 2010, state governments are cutting spending and raising taxes, making it difficult for recovery to move forward - CNBC
[08:19] {Threei}  - Sees retail spending starting to fade.
[08:19] {Threei}  - Expects banks to accelerate foreclosure programs.
[08:19] {Threei}  - Sees "unequivocal double dip" in US housing market.
[08:19] {Threei}  - Banks are not lending, sees large cuts in credit card lending.
[08:19] {Threei}  - Bank revenue will be disappointing in Q2.
[08:19] {Threei}  ***Note: Whitney has been bearish on the US economic recovery for most of 2010; no change is seen in her position in today's remarks
[08:20] {Threei}  (EU) ECB's Wellink: ECB will continue purchasing govt bonds as long as necessary; austerity measures could impact growth in the short-term but are a positive factor in the long run
[08:20] {Threei}  - Spain needs more measures to prevent further problems.
[08:20] {Threei}  - Greece on track with their austerity program
[08:20] {Threei}  - Bank stress test analysis to include "what if" analysis and include sovereign scenarios.
[08:21] {Threei}  - Reiterates that current interest rate environment is appropriate; inflation risks are balanced and well anchored.
[08:21] {Threei}  - In general believes naked short-selling should be allowed.
[08:21] {Threei}  include sovereign scenarios?
[08:22] {hawk} got me
[08:22] {Threei}  on a surface sounds like allowing for the union restructuring
[08:22] {Threei}  as in, countries leaving in
[08:25] {Threei}  Former Bank of England member Blanchflower commented today that a UK double dip recession is 'absolutely certain'
[08:25] {Threei}  for a seconf I thought, wow, someone is telling the truth? Then saw he is "former"
[08:26] {hawk} :)
[08:26] {Threei}  - Preposition ahead of the Jun 26th-27th G20 Summit in Canada; USD reserve status back on the table via BRIC members
[08:26] {Threei}  - China signals end to currency peg ahead of G20.
[08:26] {Threei}  - China keeps CNY rate unchanged against the USD in session surprising markets after announcing it was unhitching the peg.
[08:27] {Threei}  - ECB's Trichet: Reiterates view that Euro is a very credible currency
[08:27] {Threei}  ig it is, why the need to "reiterate"
[08:27] {Threei}  - Spot Gold hits fresh all-time highs above $1,265/oz
[08:32] {Threei}  CPST Announces Launch of Carb Emissions Certified Product to Operate in Hybrid Electric Vehicles (1.00, 0.00, 0.00%)
[08:35] {nemo} somebody call Dino and tell him to take the day off
[08:35] {Threei}  call me too while at it
[08:35] {nemo} GAP up
[08:44] {dptl} good morning
[08:44] {Les} afternoon all
[08:44] {Threei}  dp, les :)
[08:47] {nemo} gentlemen, Les
[08:48] {Les} savage is as savage knows
[08:48] {nemo} ?
[08:48] {nemo} bastardizing a classic movie line like that
[08:49] {Les} well I thought about saying stupid, then I remembered the list
[08:49] {Threei}  knows = does?
[08:49] {nemo} don't worry about it Les, you're on it in permanent ink, and your rank is rising
[08:50] {nemo} Actually, calling me savage is a complement
[08:50] {Les}
[08:50] {Les} I'm not even sure what classic you are referring to Nemo
[08:50] {nemo} Forrest Gump
[09:04] {dino} gm all
[09:04] {Threei}  dino :)
[09:04] {nemo} go home Dino
[09:05] {dino} lol, i saw that above nemo, you are probably right
[09:06] {nemo} better yet...go to your sister's pub
[09:07] {dino} too early
[09:07] {nemo} never
[09:08] {Les} yeh a little Irish coffee can go a long way to filling a gap up day
[09:09] {ese} good morning
[09:09] {Threei}  ese :)
[09:10] {dino} these gaps below will most likely fill at some point in time
[09:12] {Threei}  this whole thing with yuan adds a whole lot of uncertainty
[09:13] {nemo} yes, and at some point we're all dead :)
[09:13] {Threei}  nemo, ever the optimist
[09:14] {shorty} good morning
[09:15] {Threei}  shorty :)
[09:15] {nemo} hey shortstuff
[09:15] {shorty} :)
[09:19] {larisa} gm :)
[09:19] {Threei}  larisa :)
[09:20] {RonS} gm long untile people realize this is a Chinese feint?
[09:20] {ese} the Irish win the US open dino
[09:20] {lasertrev} good morning
[09:20] {Threei}  the implications of yuan un-pegging fro USD are so wide and deep, I don't even know ehere to begin
[09:20] {Threei}  ron, trev :)
[09:20] {ese} morning LT
[09:21] {nemo} at the beginning?
[09:21] {nemo} Lari :)
[09:21] {Threei}  on top of that, there is a lot of uncertainty about mechanisms and time frame
[09:21] {nemo} may just be alot of talk ahead of the G20 meeting
[09:22] {dino} saw it es
[09:23] {ese} yup me too
[09:24] {ese} really enjoyed these guys coughing it up all over the course.......Pebble eat em up nicely
[09:24] {ese} beat em up
[09:25] {Threei}  APC BP preparing to sue company for its share of Gulf of Mexico cleanup costs - Telegraph
[09:25] {Threei}  - Anadarko has a 25% stake in the well, but does not intend to pay
[09:25] {Threei}  British Petroleum plc Site of the ruptured well in the Gulf of Mexico may contain as much as 1B barrels - Times
[09:25] {Threei}  - Report citing Energy Security Analysis analyst Rick Mueller.
[09:25] {Threei}  - Company said to have estimated that the field contains only about 50-100M barrels.
[09:25] {Threei}  - A separate Guardian report citing University of Alabama professor Johnson suggest oil may continue leaking for 2 years, but spill rate may decline.
[09:26] {Threei}  British Petroleum plc To raise as much as $50B over the next two years to meet the costs of oil spill - Times
[09:26] {Threei}  - $10B to come from a debt offering, $20B from banks, and $20B from asset sales.
[09:27] {ese} was pulling for Mickelson though dino
[09:27] {Threei}  will try to stay on a conservative side, not to fight this "big gap up" curse
[09:28] {magoo} morn
[09:28] {Threei}  mags :)
[09:28] {RonS} man bites dog:  Russia eliminates long term capital gains tax
[09:30] {Threei} Long Setup:  LVS  .50 break if stays above .35
[09:31] {dino} affy
[09:31] {Threei}  if sets up from here, scalpers can use .40 as support
[09:31] {Les} shorted apc .70 very small shares
[09:32] {Threei}  EUR/USD UBS analyst: Continue to see downside potential for Euro through end 2010
[09:32] {Threei}  RIMM sharp drop
[09:32] {nemo} yeah
[09:32] {nemo} rig too
[09:32] {Les} aig big spike
[09:33] {nemo} look what bidu did on the open
[09:35] {Threei}  RIMM
[09:35] {Threei}  retests the low
[09:35] {Threei}  see if double bottom plays oput
[09:35] {Threei} Long Setup:  RIMM  .60 break half lot
[09:35] {Threei}  if holding .50
[09:36] {Threei}  invalidated
[09:36] {jfjf64} mornin
[09:36] {nemo} bottom hunt?
[09:36] {Threei}  jf :)
[09:36] {Threei}  LVS is about to trigger
[09:36] {jfjf64} y
[09:36] {Threei}  huge offers
[09:36] {nemo} big offer .50
[09:37] {nemo} yeah, huge
[09:37] {Threei} Long Setup:  ARUN  .70 break
[09:37] {Threei}  half lot
[09:38] {ese} lvs just doesn't want to break the .50 barrier
[09:38] {nemo} spy looks weak
[09:38] {Threei}  if holding above .60
[09:39] {Threei}  (EU) Fitch reiterates that breakup of Euro Zone over the short to medium term remains low
[09:39] {Threei}  ***Reminder: On March 9th: Fitch stated that it was unlikely to see a country leave the Euro Zone
[09:40] {nemo} lvs rinsed...well on an invalidation
[09:41] {Threei}  hmm?
[09:41] {ese} in lvs .55
[09:41] {ese} caught me off guard
[09:41] {jfjf64} x  lots  strength
[09:42] {Threei}  APC Hearing JP Morgan makes positive comments (timing uncertain) (42.33, -0.24, -0.56%)
[09:43] {nemo} whoa rimm spit the bit
[09:44] {nemo} watching for db on rimm, or consolidation
[09:44] {jfjf64} chk vad   thinkin  .44 break
[09:44] {dino} apc cut to junk, cnbc
[09:45] {Threei}  if holdong .35, jf
[09:45] {jfjf64} y
[09:46] {jfjf64} need  higher  lows
[09:46] {jfjf64} nope
[09:46] {nemo} rimm at friday's close
[09:46] {Threei}  market not finding support so far
[09:46] {ese} lvs stopped -.15
[09:47] {ese} -.10
[09:48] {ese} played that badly   should have been in .51 out .60
[09:48] {nemo} yeah, you're the definition of "scalper"
[09:49] {Threei}  LVS 1:1, half out
[09:50] {nemo} what was the call?
[09:50] {Threei}  stop to .45
[09:50] {Threei}  ???
[09:50] {Threei}  [09:30] {Threei} Long Setup: LVS .50 break if stays above .35
[09:50] {nemo} ahh...35
[09:50] {nemo} rimm did db
[09:51] {Les} s gg .48 stop above .60
[09:53] {Les} gg stopped
[09:56] {Les} gg was a rinse
[09:58] {Threei} Long Setup:  GLD  .80 break halkf lot
[09:58] {Threei}  stop under .70
[09:58] {Threei}  not a scalp
[09:59] {Threei}  LVS stop for the balance to b/e
[09:59] {ese} L ctrp .45
[10:01] {dino} affy hl l .25
[10:01] {ese} 1/2 lot by the way spread too big
[10:02] {nemo} only 10k shares, huh?
[10:02] {Threei}  AFFY UPDATE: RBC Cuts AFFY to Underperform from Outperform, price target: $3
[10:02] {Threei}  that's some target
[10:02] {ese} ha ha ...ha ha
[10:03] {Threei}  GLD no go
[10:03] {dino} cstr hl l .00
[10:04] {ese} out ctrp .69 +.24
[10:05] {dino} gj
[10:05] {ese} tks
[10:05] {Threei}  MON US Supreme Court overturns ruling limiting sale of genetically modified alfalfa seeds until environmental review (34.35, -0.50, -1.43%) (related ADM )
[10:06] {ese} no partialling on that one.....too big a spread
[10:06] {nemo} rig, can you say volatility
[10:06] {nemo} gld rinse
[10:07] {Threei}  yeah
[10:07] {ese} L stld .59
[10:07] {Threei}  by 1 cent
[10:07] {Threei}  sheesh
[10:08] {nemo} yeah, and it never went below .69, see that candle at 9:51
[10:09] {ese} out stld .64 +.05
[10:11] {Threei}  APC...
[10:11] {Threei}  43 break looks tempting
[10:12] {Threei}  volatility is a concern
[10:12] {ese} yup
[10:13] {ese} does look tempting though
[10:13] {nemo} feels like lunchtime already
[10:13] {jfjf64} y
[10:13] {jfjf64} e
[10:13] {jfjf64} s
[10:14] {ese} l bidu .00
[10:14] {ese} sm
[10:14] {ese} out .14
[10:15] {ese} whoaaa +.14
[10:15] {jfjf64} aa
[10:15] {ese} never played tha one before.....damn it's crazy
[10:15] {jfjf64} .95  break
[10:15] {Threei}  be double careful with it ese
[10:15] {Threei}  look at its level 2
[10:15] {ese} it's off my hit list already
[10:16] {ese} to volitile for me
[10:16] {Threei}  thin like bulymic supermodel
[10:16] {ese} looked normal for a bit then crazy
[10:16] {ese} no skill there for sure....bull chit luck
[10:17] {nemo} probably goes to .75
[10:17] {shorty} The transcanada hwy east of here.  About 3 hrs of Calgary:
[10:18] {Threei}  whoa
[10:18] {ese} is that the trans canada around maple creek
[10:18] {ese} sorry said trans canada
[10:19] {shorty} yup
[10:19] {ese} wow
[10:19] {shorty} Heard it will be shut down all summer now.
[10:19] {nemo} RIG either triple bottom or IC&H
[10:20] {shorty} Am I the only one holding ARUN?
[10:20] {Threei}  no
[10:21] {Threei}  if anyone went for APC, feel free to get out here
[10:22] {Threei}  LVS 1:2, 1/4 more out
[10:22] {Threei}  stop to under .60
[10:22] {shorty} C'mon ARUN, I need to take the kids out before the rain starts again and the flooding continues.
[10:22] {ese} didn't do it but nice call vad
[10:22] {Threei}  lol
[10:22] {Threei}  ty ese
[10:22] {Threei}  I have my moments
[10:23] {Threei}  shorty, ARUN becomes discretionary here
[10:23] {shorty} ok..ty
[10:23] {Threei}  time drags out into inactive period
[10:23] {Threei}  hard to tell whetrher it's just biding its time
[10:23] {Threei}  or just lost will to live
[10:23] {nemo} rig was a triple bottom
[10:24] {nemo} see BIDU ese, heading towards .75
[10:24] {Threei}  LVS, last part is in no lose, territory, worts case scenario you take 10 cents profit on it,
[10:24] {Threei}  so, the choice is to offer it just above 28
[10:25] {Threei}  or trail it as it moves
[10:25] {Threei}  will see and comment as it goes
[10:25] {nemo} X inverse C&H?
[10:25] {Threei}  probably
[10:25] {jfjf64} was lvs a call
[10:25] {Threei}  just keep it half lot
[10:26] {Threei}  jf... you asleep or what?
[10:26] {Threei}  that was first call of the day, .50
[10:26] {jfjf64} lol
[10:26] {dino} out cstr .25, +.25
[10:26] {jfjf64} got  it  ty
[10:26] {Threei}  went up 30 cents, we partialled twice - now you ask whether there was a call?
[10:26] {Threei}  let me out of here, lol
[10:27] {Threei}  wow, APC still goes
[10:29] {Threei}  AFFY...
[10:29] {Threei}  this thing starts looking like breakdown
[10:29] {nemo} RIMM two way?
[10:29] {nemo} .80 break, .70 breakdown
[10:29] {nemo} ?
[10:29] {Threei} Short Setup: AFFY  .10 break
[10:30] {Threei}  probably, RIMM
[10:30] {Threei}  with slight preference to short side
[10:30] {Threei}  LNET Announces Technology Licensing Agreement With Panasonic (4.87, +0.07, 1.46%)
[10:31] {Threei}  (GE) Germany Min: Recent austerity plans do not negatively impact growth incentives
[10:31] {Threei}  - Germany Chancellor Merkel: Increasing debt is not a good policy, austerity programs are not 'radical'
[10:31] {Threei}  " Increasing debt is not a good policy"?
[10:32] {Threei}  come on Angela
[10:32] {nemo} radical for a political career :)
[10:32] {Threei}  get with the program
[10:32] {Threei}  AFFY defined stop level for the setup
[10:32] {nemo} rimm playing both ways :)
[10:33] {Threei}  above .25 will be invalidated
[10:33] {RonS} crus 'n south
[10:34] {Threei}  RMBS Ticking higher on chatter company has hired an investment bank to evaluate offers from Samsung (19.45, +0.51, 2.69%) (related 005930.KS )
[10:34] {Threei}  RIMM 1:1
[10:34] {Threei}  (EU) ECB's Trichet: Inflation expectations are not rising, recovery is continuing
[10:35] {Threei}  repeat after me
[10:35] {Threei}  recovery is continuing
[10:35] {Threei}  recovery is continuing
[10:35] {Threei}  recovery is continuing
[10:35] {RonS} lol
[10:35] {Threei}  Euro is sound
[10:35] {Threei}  Euro is sound
[10:35] {Threei}  Euro is sound
[10:35] {RonS} the check is in the mail
[10:36] {Les} he's been reading og mandino's little book
[10:36] {nemo} Taxes won't go up
[10:36] {nemo} I promise, I won't...
[10:36] {Threei}  no, since I don't want to be seen as discriminating against across the pond, let's move over to this side, and repeat three times: recovery is fragile, we need new stimulus
[10:38] {RonS} i must play golf
[10:38] {RonS} i must play golf
[10:38] {RonS} i must play golf
[10:40] {jfjf64} aa
[10:40] {jfjf64} gettin ready
[10:40] {dino} i like rons' idea
[10:41] {jfjf64} 5 min chart
[10:42] {nemo} rimm hit 1:2
[10:48] {Threei}  AA really holds well
[10:48] {jfjf64} y
[10:48] {jfjf64} feel  lk  im  waitin  4  da KILL
[10:49] {jfjf64} camo on
[10:49] {jfjf64} locked
[10:49] {jfjf64} and  ready
[10:49] {shorty} darn out AFFY .03, then it tanks
[10:50] {Threei}  1:1 AFFY
[10:50] {nemo} rim 1:6
[10:50] {shorty} Have a good day all.  Will see you guys tomorrow.
[10:50] {Threei}  can't tell whether AFFY is a scalp or continuatrion
[10:50] {jfjf64} market  gettin  hit
[10:51] {magoo} continuation imo
[10:51] {Threei}  if partialing, trail stop to above b/e
[10:51] {nemo} amateur hour is over
[10:51] {magoo} mkts losing it here
[10:51] {dino} affy stopped -.26
[10:52] {magoo} i mean, i'm thinking .80 area
[10:54] {jfjf64} rig bounce
[10:56] {Threei} Short Setup: BP  .80 break
[10:56] {Threei}  if stays under .90
[10:56] {nemo} X looks interesting on short side too
[10:59] {magoo} u r in a nice zone vad:)
[10:59] {Threei}  ty... just no serious moves...
[10:59] {Threei}  LVS was the biggest
[11:01] {Les} APC is trying to get break 50ma support. no clear setup
[11:01] {Les} - get
[11:02] {RonS} iflg
[11:02] {RonS} news?
[11:02] {Threei}  IFLG Strength attributed to chatter of expanded collaboration with SAP (6.45, +0.53, 8.95%)
[11:05] {Threei}  AA
[11:05] {Threei}  held nicely and may be prepares foa break
[11:05] {Threei}  (CA) Canada PM: Hopes China's currency move eases pressure on CAD, sees "significant" benefits for Canada from China's move (related USD/CAD EUR/CAD EWC )
[11:06] {Threei}  - Insists that Canada will continue to press China on FX policy
[11:07] {Threei}  OK, I understand everyone wants tgo be a seller into China market... but did anyone evaluate the impact on the import prices if yuan doubles?
[11:07] {nemo} I thought about it often
[11:07] {RonS} ...and early?
[11:08] {Threei}  it feels to me like a push for the mother of all inflations
[11:08] {RonS} ...perfect for the debt mongers
[11:08] {nemo} also might force some jobs back to the west
[11:08] {Threei}  only if there are buyers for their production at trhe western prices
[11:09] {nemo} duh
[11:09] {Threei}  is walmart vuyer ready to buy at boutique prices?
[11:09] {RonS} ...force them to the next fish heads and rice market
[11:09] {Threei}  or chinese buyer - at the prices produced by union slaries and benefits?
[11:10] {RonS} ...bagladesh...myanmar...
[11:10] {Les} north korea Ron?
[11:10] {RonS} lol
[11:10] {RonS} mongolia
[11:11] {Les} i believe kyrgyztan is open for slave labour manufacturing
[11:12] {Les} just beginning to catch up on what is happening there:
[11:12] {Les},1518,701822,00.html
[11:12] {RonS} where the drill moratorium shucks 300,000 primary (direct) jobs and 1 million+ total
[11:14] {dino} i think at this point you are over thinking the yaun policy, a 3% range starting a year from now is not much, if it happens at all
[11:14] {nemo} the yawn policy?
[11:14] {Threei}  of course not
[11:14] {dino} chinese yuan?
[11:15] {Threei}  I am talking about this push for full unpeg
[11:15] {nemo} aa vad
[11:15] {dino} won't happen
[11:15] {RonS} exactly...they are just trying to buy some time from the protectionists
[11:15] {dino} yes and make obama look tough for upcoming elections
[11:17] {magoo} cnbc ragging thhat BP ceo went on yachting race
[11:17] {ese} L ntes .10
[11:17] {Threei}  yeah mags
[11:17] {magoo} reminds me of auto makers private jet scandal
[11:17] {Threei}  as if it makes any difference
[11:17] {Threei}  or has any significance, other than useless optics
[11:18] {magoo} thats what i mean
[11:18] {Threei}  but who cares abourt substance these days
[11:18] {magoo} so what
[11:18] {Les} it's absolutely disgusting
[11:18] {nemo} AA broke
[11:18] {Threei}  it's not like he must dive personally mile deep and plug the leak with his shirt
[11:18] {nemo} on volume too
[11:18] {Les} the CEO should have been grovelling on capitol hill
[11:18] {Les} or yes, plugging the leak with his yacht
[11:19] {Les} junk shot
[11:19] {dino} think about bp, or any other major company, of course the ceo doesn't know all and make all decisions
[11:20] {Threei}  - China's announcement that it plans to gradually let the yuan appreciate is the story this morning. US equity markets are up modestly on the news, following in the wake of strength seen on Shanghai and European indices. The PBOC said the yuan's trading band would remain in effect, and FX analysts are waiting to see how much the yuan is allowed to move over the next several day to see whether China's announcement will turn out to be more than a token gesture
[11:20] {dino} v hl l .00
[11:21] {Threei}  along the same lines mags, pone of the most important things he is blamed with is the unfortunate remark "I want my life back"
[11:21] {Threei}  talk about safety record and measures, what do you care about his insensitivity
[11:22] {Threei}  AA 1:1
[11:22] {dino} well, who wouldn't, lol
[11:22] {Threei}  62% Say Politicians Want Government to Have More Power and Money
[11:22] {Threei}  and the rest 38% never came out of coma started at borth I guess
[11:22] {Threei}  birth
[11:23] {Threei}  oh god
[11:24] {Threei}  I looked in TV erroneously, and the image will render me impaired in many ways for weeks
[11:24] {Threei}  "condom with teeth" was what CNN discussed
[11:25] {Threei}  sorry girls... my vivid imagination is my enemy in this case
[11:25] {hawk} lol
[11:26] {Threei}  they promised more on that after commercial... hurrying up and throwing TV out the window
[11:26] {hawk}
[11:26] {magoo} [11:25] {&Threei}  "condom with teeth" was what CNN discussed
[11:26] {magoo} what the hell does that mean?
[11:27] {Threei}  something for women to protect against rape
[11:27] {Threei}  may I not learn the details pls, I may need a serious rehabilitation
[11:27] {magoo} how about a return to chastity belts then he he
[11:27] {nemo} RIG C&H, a bit wide though
[11:28] {nemo} fcx interesting
[11:28] {Threei}  47% Blame Bush for Nation's Economic Problems, 45% Blame Obama
[11:29] {Threei}  gap is closing... but Clinton is still safe
[11:29] {magoo} i blame jimmy
[11:29] {magoo} cartee lol
[11:29] {magoo} carter
[11:29] {Les} nice end to the C&H nemo on RIG. good b/o
[11:29] {RonS} 1% blame the 99% who are idiots
[11:30] {magoo} rimms ready
[11:31] {ese} out even ntes .10   goin nowhere fast
[11:41] {Threei}  looking at LVS setup on .70 break 10 min ago, I realize that the only reason I haven't called it was, I was hesitant to look LVS-obsesed
[11:43] {ese} L sanm ..40
[11:43] {Threei}  EU) UK PM Cameron: UK has no plans to offer more financial support for the Euro Zone
[11:43] {Threei}  - The next EU budget needs to be frozen or reduced.
[11:43] {Threei}  - Notes his strong support for Turkey EU membership.
[11:44] {Threei}  {Turkey} keep it
[11:44] {ese} .39 and change basically
[11:46] {Threei}  CA) Canada Fin Min Flaherty confirms nations including Russia are purchasing C$
[11:47] {Threei}  great... CNN continues to traumatize me...
[11:47] {Threei}  turns out, I can adopt a pelican
[11:47] {RonS} lol
[11:47] {RonS}
[11:48] {Threei}  no
[11:48] {Threei}  mental image is enough
[11:48] {Threei}  I can see this thing crapping all around my house and demanding allowance
[11:49] {RonS} ...demanding baby to deliver...
[11:50] {RonS} RIMM shot short?
[11:50] {Threei}  hard to tell
[11:50] {Threei}  50/50
[11:50] {Threei}  LVS dtarts looking like bounce candidate
[11:51] {Threei}  most likely from under .60
[11:57] {dptl} .
[11:57] {dino} ..
[11:57] {nemo} X bouncing at vwap
[11:58] {Threei}  (EU) ECB's Trichet: All non-standard ECB measures are "transitory," reiterates opposition to Eurobond concept
[11:58] {Threei}  - Opposes any joint govt bond guarantee.
[11:58] {Threei}  - Sure that Spain will conduct fully transparent stress testing of banks
[11:58] {dino} v to .64
[11:58] {dino} to .68
[11:58] {bellowsbunch} anyplays?
[11:58] {Threei}  looks to me like just a little bounce on the way down, nemo
[11:59] {Threei}  quite a few
[11:59] {Threei}  no open ones right now though
[11:59] {hawk} nice one dino, got .24 out of it, out way too early, thx
[11:59] {dino} out v .75, +.75
[12:00] {dino} ty hawk
[12:00] {Threei}  beauty
[12:00] {dino} ty
[12:00] {Threei} Short Setup: X  .80 break half lot
[12:05] {dino} mtb
[12:05] {dino} wow
[12:05] {dino} news?
[12:06] {ese} stopped SANM .29 -.10
[12:06] {dino} sm s mtb .90
[12:06] {Threei}  MTB Ticking higher on renewed takeover chatter (94.43, +3.72, 4.10%)
[12:06] {dino} ty
[12:06] {RonS} old but...Banco Santander In Talks With M&T For Potential Deal       06/18 07:23 AM
[12:07] {Threei}  Hearing takeover talks with Santander have been renewed
[12:07] {Les} s x .85 half out .75
[12:07] {dino} cov .10, +.80
[12:07] {dino} mtb
[12:08] {Les} wow you were shorting it
[12:08] {Les} nice one
[12:08] {Threei}  X1:1
[12:08] {dino} s=short
[12:10] {Les} 1/4 more covered .65 x
[12:12] {dino} gj
[12:12] {Threei}  almost 1:2
[12:12] {RonS} dino, cstr....
[12:16] {Threei}  getting this patient partialling out and trailing sruff down, Les, eh
[12:16] {dino} watching it, db coming maybe
[12:17] {dino} market going to fill open gaps imo
[12:17] {nemo} that would be impressive
[12:18] {nemo} then fcx might be setting up a range for a short here, although, it is lunch
[12:22] {dino} ndx close
[12:22] {Les} all out x .65 1:2
[12:22] {Les} 200 ma support coming up fast. maybe bounce here
[12:23] {Les} on X
[12:23] {nemo} fcx 1:1
[12:25] {Les} APC vad
[12:25] {Les} .60 b/d?
[12:25] {Les} holding .70?
[12:28] {Les} invalidimated
[12:28] {Threei}  Les... nah
[12:29] {Threei}  mostly because this hing is niot market driven right now
[12:29] {Threei}  it's in its own world
[12:29] {Threei}  development of the story with BP is a driver
[12:30] {nemo} fcx 1:2
[12:31] {nemo} market may bounce around 112.05
[12:33] {nemo} rig looking short
[12:34] {Threei}  British Petroleum plc US Coast Guard's Allen: Exact Status of wellbore is currently unknown, the current worry about the wellbore can be considered 'generalized'
[12:34] {Threei}  - There are no signs of erosion around the well, the wellhead is 'listed' 10-12 degrees; relief well status is 'ahead of schedule'
[12:34] {Threei}  - Note: Last week Coast Guard commented that hoped the relief well would be completed by the second week of August
[12:34] {Threei}  - Note: On 6/17 the Coast Guard noted that the first relief well drilling was getting closer to the damaged wellbore
[12:41] {Threei}  looks like reversal in cards
[12:41] {Threei}  not huge, but bounce
[12:42] {Threei}  LVS should be scalpable
[12:42] {Threei}  .60 big offer
[12:42] {nemo} whoa
[12:42] {nemo} where'd those just come from
[12:43] {nemo} gone
[12:45] {nemo} you like Bidu break of 77 or not at lunch?
[12:46] {Threei}  I do actually
[12:46] {Threei}  ugh, no chasing
[12:46] {Threei}  let it pull back
[12:47] {nemo} .20 stop though
[12:47] {Threei}  Euro vs US Dollar Moves below 1.2350 (June 18th low) as dealers note a close below there could signal a reversal day
[12:47] {Threei}  - Trades as low as 1.2326
[12:50] {nemo} mos might be a short here
[12:55] {nemo} anybody play mos??
[12:57] {larisa} what you had in mind, pivot break? I see 44 break short, or bounce into res earlier 44.40 om downtrend
[12:57] {nemo} .80 b/d
[12:57] {nemo} it was good for almost 1:2
[12:58] {larisa} thats what i am asking, whats at .80 :)
[12:58] {nemo} on 1 minute and 5 minute chart looked like b/d
[12:59] {nemo} ya, know, I didn't even notice the pivot, just the chart formation in LASER
[12:59] {nemo} spy bounced at 200 ma on 5 minute chart
[13:00] {nemo} around 112.10
[13:01] {RonS} v
[13:01] {RonS} v
[13:01] {nemo} oy vay
[13:01] {nemo} must be news
[13:01] {nemo} legislative related perhaps
[13:04] {Les} yeh
[13:04] {Les} there will be no consumer protection
[13:05] {Threei}  (EU) France and Germany pre-G20 Statement: Call for international agreement for a tax on financial institutions
[13:05] {Threei}  - New rultes on bank capital and liquidity levels should be implemented by 2012.
[13:05] {Threei}  - G20 should ask the FSB to look at the need to reduce reliance on external credit rating agencies by June 2011.
[13:05] {Threei}  - Need more regulation of OTC derivatives, CDS markets.
[13:05] {Threei}  - FSB needs to set up guidelines for financial sector compensation.
[13:05] {Threei}  - Call for bank stress tests to be disclosed, expect the results to be published by the end of July.
[13:08] {RonS} Jackie DeShannon
[13:09] {RonS} What the World Needs Now
[13:10] {Threei}  CH) White House Press Sec: Implementation of China's new CNY policy will be key
[13:12] {Threei}  wow V
[13:14] {dino} bummer v
[13:14] {jfjf64} cof  vad
[13:14] {jfjf64} 44 break
[13:14] {jfjf64} naa
[13:14] {Threei}  I though you golt flu
[13:15] {jfjf64} ??
[13:15] {Threei}  cof...
[13:15] {jfjf64} lol
[13:15] {Threei}  never mind
[13:15] {jfjf64} cof
[13:15] {RonS} ...vad, but first hold you head to the side...
[13:15] {jfjf64} funny
[13:15] {Threei}  actyually could be a nice breaK
[13:16] {Threei}  IF MARKET HELPS ANY
[13:16] {Threei}  House members looking to give exemptions to auto dealer and pawn brokers from consumer protection agency regulation
[13:16] {Threei}  - Want to add payday lenders and private student lenders to the watchdog agency's purview
[13:16] {Threei}  so, it's not full cancellation of agency
[13:17] {Threei}  news has been misread it seems
[13:18] {dino} ups hl l .50
[13:19] {jfjf64} cof pullbk
[13:19] {ese} L sanm.17
[13:20] {jfjf64} rimm
[13:20] {jfjf64} s
[13:20] {jfjf64} c/h
[13:21] {nemo} could be a two way JF
[13:21] {jfjf64} .25 break
[13:21] {nemo} for short and .30 or .35 for long
[13:21] {jfjf64} ??
[13:21] {jfjf64} k
[13:23] {nemo} no volume yet on that
[13:24] {nemo} looks more short now
[13:25] {jfjf64} in
[13:26] {Threei}  (US) Rep Frank (D-MA): Looking to modify Senate debit cap plan; House is looking to retain Senate's proposals for capping interchange fees
[13:26] {Threei}  - House Democrats have agreed with Senate proposal to place financial product regulatory authority inside the Federal Reserve; are looking to place Pay Day and private Student Lenders within scope of consumer watchdog
[13:26] {Threei}  - Dems seek to expand watchdog's regulatory powers to include banks with assets below $10B (note: US Senator dodd highlighted in November that the FinReg would provide power to the consumer protection agency to assess fees on banks with $10B or more in assets).
[13:26] {Threei}  - House Democratic members looking to give exemptions to auto dealer and pawn brokers from consumer protection agency regulation; Want to add payday lenders and private student lenders to the watchdog agency's purview.
[13:26] {Threei}  House Democrats have agreed with Senate proposal to place financial product regulatory authority inside the Federal Reserve
[13:27] {Threei}  that's all we needed to know
[13:27] {nemo} bohica
[13:28] {dino} hl l cstr .24
[13:29] {nemo} see with RIMM jf...what a pain
[13:29] {jfjf64} yup
[13:29] {jfjf64} loved  chart
[13:30] {nemo} yeah, either triple bottom or IC&H, it decided it couldn't decide :)
[13:30] {Threei}  my hesitance to buy V on opullback to 77.15 looks umm... what's the word
[13:30] {nemo} STUPID!!!
[13:30] {nemo} sorry...that was harsh
[13:30] {dino} v and ma rocking
[13:31] {jfjf64} grrrrrrrrrrrr
[13:31] {jfjf64} rimm
[13:31] {nemo} I don't see anything in that announcement that should give the credit card companies solace
[13:31] {dino} axp not following
[13:31] {jfjf64} bas  te  r
[13:31] {nemo} fake right out of our shorts jf
[13:32] {jfjf64} im  angry
[13:32] {nemo} classic buy-the-new-low HFT maneuver
[13:34] {nemo} look at BIDU Vad...bummer
[13:34] {nemo} that was a 1:4
[13:38] {Threei}  US) US Senator Durbin (D-IL): New proposals on interchange fees includes minor changes, including exemption for some prepaid Govt issue cards
[13:38] {Threei}  Govt issue cards?
[13:39] {jfjf64} dont look  rimm
[13:39] {jfjf64} grrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr
[13:39] {Threei}  Hearing JP Morgan making cautious on new House proposals on interchange fees (timing uncertain)
[13:39] {Threei}  - Notes language seems to indicate that it still includes many measures from the Durbin amendment
[13:39] {dino} cstr stopped -.25
[13:39] {dino} ndx filled
[13:42] {nemo} frickin' rimm
[13:42] {nemo} jf dcc
[13:43] {Threei}  amazing as it is, market is about to go red
[13:43] {nemo} little ways to go yet
[13:45] {dino} gaps are powerful things
[13:45] {Threei}  such big ones as today's are rarely get filled same day though
[13:45] {Threei}  most often they jusy stall at the high
[13:45] {Threei}  maybe retreat a bt
[13:45] {Threei}  but not all the way
[13:48] {dino} i remembe magoo and i shorting the open up gaps like crazy in 2008
[13:49] {Les} did it work?
[13:49] {dino} indeed
[13:49] {Les} of course. market tanking
[13:49] {Threei}  right
[13:49] {dino} 09 not much, '09 was the swingers year imo
[13:50] {Threei}  in 2009 that would have been a disaster
[13:50] {Threei}  they gapped and stalled or climbed further
[13:57] {bellowsbunch} any open trades?
[13:58] {Threei}  unless someone inhaled and held V
[13:58] {Les} $POG crashing. got a read on GLD vad?
[13:59] {Threei}  I'd expect a bounce very soon
[13:59] {Threei}  maybe this double bottom,
[13:59] {Threei}  if not losing .90
[14:00] {Threei}  ok, lost,
[14:00] {Threei}  may set up now as .80 loss and recross
[14:02] {Threei}  ok, if holding .70
[14:04] {Threei}  barely, but still valid
[14:05] {dptl} got to leave.....have a good one see ya tomorrow all
[14:06] {Les} ciao dp
[14:06] {Threei}  take care dp
[14:07] {dino} cya dp
[14:09] {Les} BP here vad. you got a read?
[14:09] {Les} breakdown?
[14:09] {Les} .50
[14:09] {Les} or bounce
[14:09] {Threei}  no idea
[14:11] {Threei}  GLD battle heats up
[14:11] {Threei}  no direction defined yet
[14:11] {Threei}  but market firms
[14:14] {nemo} GLD triggered
[14:17] {Threei}  1:1
[14:17] {Threei}  can I call myself a goldbug now?
[14:18] {Threei}  after profiting from GLD
[14:18] {Les} not unless you've a photo of yourself naked and covered in gold dust
[14:18] {nemo} that hurts
[14:18] {Les} THEN you are a gold bug
[14:19] {Threei}  hmmm... patience claimed once she was a goldbug... I guess we can oput that to test
[14:19] {Les} or swimming in the pool with a brick in each hand
[14:19] {Threei}  you mean some swim differently??
[14:20] {Les} yeh normal people use inflatable mattresses
[14:20] {Threei}  I may have been horribly misinformed when learned to swim in early childhood then...
[14:20] {Les} or in nemo's case, yellow duckies
[14:21] {nemo} wow
[14:21] {jfjf64} vad  cof  bounce
[14:21] {nemo} Vad....Les passed you on the list
[14:22] {Threei}  staying afloat with bricks in my hands and concrete block on the heck was sold as basic skill...
[14:22] {Les} you are son of spetznaz?
[14:22] {Threei}  try father
[14:22] {Threei}  jf... I like it
[14:22] {nemo} gag
[14:23] {Threei}  just need clean reversal in the market
[14:23] {nemo} rimm shit
[14:23] {nemo} break of .40
[14:23] {Threei}  if you grabbed it, stop under 44
[14:23] {nemo} ?
[14:23] {jfjf64} ty
[14:24] {nemo} ahh
[14:24] {jfjf64} .06
[14:25] {bellowsbunch} read on bidu at this point
[14:25] {ese} hmmmmmmm still waitin on sanm
[14:26] {Threei}  BIDU is stronger than the market, will be a breakout play IF market continues recovery
[14:26] {Threei}  what you want to see for a successfyl break is BIDU consolidating closer to .50
[14:26] {Threei}  considering its volatility, say between .30 and .50
[14:27] {nemo} having said that, BIDU is the kinda' stock tht could run right through and keep going
[14:27] {Threei}  volatile one, yes
[14:28] {Les} bp vad. 50 b/d?
[14:28] {Threei}  not delighted
[14:29] {Threei}  .60 break if holdong .50 is more to my liking
[14:29] {Les} long?
[14:30] {Les} fair enough. looks like it could bounce
[14:42] {Les} took apc l .32 out .46 instead of bp.
[14:46] {Les} s affy .52 aggressive .50 b/d stop .60
[14:50] {RonS} v = ^
[14:53] {Les} cover affy +.09 5k
[14:53] {Threei}  wtg
[14:54] {dino} nice\
[14:54] {Les} thanks, but doesn't begin to cover mess I made with apc this morn
[14:57] {Les} what happened to affy anyway?
[14:57] {dino} haven't done much, 6 trades
[14:57] {RonS} is this how you ru-yuan a revaluation?
[14:57] {dino} s/p filled
[14:58] {dino} affy drug ph 3 info
[14:59] {Threei}  quire confusing press-release btw
[15:00] {larisa} but not even attempt to bounce, I guess vad is the only one confused :)
[15:00] {Threei}  okay... I'll take it
[15:00] {Threei}  what else is new
[15:00] {larisa} ty :)
[15:00] {Threei}  but heck... you read it?? :)
[15:01] {larisa} I tried
[15:01] {Threei}  sounds totally upbeat
[15:03] {Threei}  OK
[15:03] {Threei}  last hour
[15:03] {Threei}  time to decide on direction
[15:03] {RonS} "our drug is struggling, but the gila monsters are happy and we went yahting"
[15:03] {Threei}  IMO, down
[15:05] {Threei}  looking for short setups
[15:06] {bellowsbunch} bidu
[15:06] {nemo} maybe...helluva stop though
[15:07] {Threei} Short Setup: MON  .90 break
[15:08] {dino} affy, agree vad, says going to production w/another company
[15:09] {dino} here comes dji fill
[15:09] {Threei}  AFFY Preliminary data shows Phase III trial of Hematide/peginesatide met primary endpoints
[15:09] {Threei}  - Affymax and Takeda have announced preliminary top-line results from the Phase 3 clinical program for the investigational drug
[15:09] {Threei}  The primary efficacy endpoint, the mean change in hemoglobin (Hb) from baseline, in each of the four Phase 3 studies (EMERALD 1, EMERALD 2, PEARL 1 and PEARL 2) met the statistical criteria
[15:09] {Threei}  etc tec
[15:09] {Threei}  etc
[15:10] {dino} heart issues
[15:10] {Les} well price speaks a thousand news releases
[15:10] {Les} price says 'this sux'
[15:10] {Threei}  big time
[15:11] {dino} watch it tomorrow
[15:11] {dino} dji fill
[15:11] {Threei}  SPY red
[15:11] {Threei}  DJI 5 points left
[15:12] {dino} close 10450, lod 10450
[15:13] {Threei}  everything's red
[15:13] {Threei}  that's impressive action
[15:13] {Threei}  I guess yuan is not getting totally free just yet
[15:13] {Threei}  not this week eh
[15:14] {Threei}  BIDU, who unplugged darn thing
[15:16] {bellowsbunch} mon slow
[15:16] {Threei}  market tries to bounce, that keeps MON from further slide
[15:19] {Threei}  MON 1:1
[15:19] {Threei}  faster now
[15:19] {Les} lol heck yeh
[15:19] {Threei}  lol
[15:20] {Threei}  President is criticized for golf outing during oil spill,
[15:20] {Threei}  his team defends him
[15:20] {Threei}  but hey, how about that yacht thing with haywart?
[15:20] {RonS} ...they won money...
[15:20] {Les} he didn't want to be seen yachting with hayward
[15:21] {dino} say what you want, but ndx -1.17% not good imo
[15:21] {Les} why?
[15:22] {dino} because we were up big
[15:22] {dino} 2.5% swing in hours
[15:22] {Threei}  yeah, closing gap of this magnitude wuithin same day, this is rare event
[15:22] {Les} so some ugly action opening tomorrow?
[15:23] {RonS} so, when we gap up and grind hate it; and when we gap up and reverse lower, it is a prblem...hmmmm.
[15:23] {Les} lol
[15:23] {Threei}  it's not a "problem"
[15:23] {Threei}  it's indication of market weakness
[15:23] {Threei}  you may have noticed we found way more prodfitable trades today than we do on gap and stall days
[15:23] {dino} me, no ron, i just hate gaps, they tend to fill in time
[15:24] {RonS} well...we leave on volatility do we not?
[15:24] {RonS} leave = live
[15:24] {dino} yes
[15:24] {Threei}  volatility and readability
[15:24] {dino} just in general, why is ndx overreacting compared to others
[15:24] {Threei}  lack of volatility is what usually leaves us with very f6ew trades on gap and stall days,
[15:25] {Threei}  lack of readability - on gap and climb days,
[15:25] {Threei}  gap and reversal like today gave more opportunities
[15:26] {Les} took affy again. but looking for the big b/d. dunno if market gonna help into close
[15:26] {dino} my problem is the gap filled ok, but dropping hard still. imo fill and go up
[15:26] {Les} maybe now
[15:26] {Les} into close. which means FAS
[15:27] {Les} fas 24
[15:28] {bellowsbunch} fas to fall further?
[15:28] {Les} maybe not. stopped -07 fas
[15:30] {Threei}  most likely for now, FAS,
[15:30] {Threei}  there will be bounce soon,
[15:30] {Threei}  but I'd want to see SPY gaining firmer footing for that
[15:30] {dino} moon that spells bounce
[15:30] {jfjf64} good day  al
[15:30] {jfjf64} all
[15:31] {Threei}  take care jf
[15:31] {Les} ciao
[15:31] {Threei}  MON 1:2
[15:32] {dino} cya jf
[15:32] {dino} no takers on moon
[15:32] {Les} l fas .01 stop under .90
[15:41] {Les} that's it. stopped and i am outta here
[15:41] {RonS} cya Les
[15:41] {Les} dirty kitchen looking better than this close
[15:41] {Les} a domani
[15:42] {Threei}  MON 1:3, done
[15:43] {dino} gj
[15:43] {Threei}  ty
[16:00] {Threei}  thank you all
[16:00] {larisa} bye :)
[16:00] {Threei}  have a good evening, see you tomorrow
[16:00] {nemo} gnite
[16:00] {hawk} nite all
[16:00] {dino} gn all