Wednesday, June 30, 2010

Jun 30 2010

We stayed picky and careful, so hit it with 100% success rate second day in the row. Disappointing part? No interesting charts again, just your average "another day in the office" stuff.

Session Time: Wed Jun 30 00:00:01 2010
[08:11] {nemo} hey dunedin
[08:11] {nemo} let's hope Les is taking the day off
[08:27] {Les}
[08:27] {Les} anti-pirate operations, russian style
[08:28] {Les} afternoon all
[08:28] {nemo} urinate off!
[08:29] {Les} haha given the extreme censorship practised here, a good choice of word
[08:31] {Threei}  Fitch sees global recovery on track, driven by emerging market economies; downside risks are intensifying
[08:31] {Threei}  - The global recovery has strong momentum, and Fitch's base case is that global GDP will grow 3.1% in 2010, after contracting 2.5% in 2009, helped by a rebound in world trade, a turn in the inventory cycle and accommodative fiscal and monetary policies.
[08:31] {Threei}  - Emerging market (EM) economies are providing the main impetus to growth, helped by a gradual recovery in US consumption and a strong rebound in Japan. However, activity in the euro area remains sluggish.
[08:32] {Threei}  - The elevation of Euro area sovereign debt fears and renewed financial market volatility has increased the risk of a double-dip recession, a scenario that would feed back adversely on bank asset quality and public debt dynamics.
[08:32] {Threei}  - While abrupt fiscal tightening before private sector demand has gained traction may reduce growth in some economies, the announcement of credible strategies to ensure medium term public debt sustainability should help underpin confidence and set the scene for private sector-led expansion to emerge in the advanced economies from 2011.
[08:33] {Threei}  *(US) JUN ADP EMPLOYMENT CHANGE: 13K V 60KE
[08:33] {Threei}  - Prior revised higher from +55K to +57K
[08:35] {strider} NFLX
[08:37] {Les} this ADP report, if i understand correctly, is a precursor to friday jobs report? seems rather gloomy as a prediction
[08:37] {Threei}  for both Fri and Nive election
[08:37] {Threei}  Nov
[08:39] {Les} ok I get it, last months data. wow friday could ugly
[08:45] {Les} CMG's daily just got interesting with a broken trendline on vol. gonna treat it like a GS stock
[08:52] {Threei}  Fed's Duke: Bank lending falling significantly
[08:53] {Threei}  why? they don't lend or borrowers don't borrow?
[08:53] {Threei}  ahha, more details follow
[08:53] {Threei}  - Banks should return to creditworthy borrowers
[08:53] {Threei}  - It will take years for pre-recession lending levels to return
[08:53] {Threei}  - Loan demand may be improving
[08:53] {Threei}  - Notes fewer lenders are tightening standards
[08:53] {nemo} they'll never get back to pre-recession levels...those were absurd
[08:54] {Threei}  no kidding
[08:54] {nemo} watching rimm short and LVS long
[08:54] {Threei}  what's the point of the whole exercise in "more discipline" if we return to those levels
[08:55] {RonS}
[08:55] {RonS} gm
[08:55] {Threei}  Ron :)
[08:57] {dptl} morning
[08:57] {Threei}  dp :)
[08:57] {RonS} i like bidu and dndn long...
[08:57] {Threei}  overall, if you step back and look at the whole thing as detached observer, cycle becomes quite obvious:
[08:58] {RonS} leemings, sheep, or cattle...the herd runs together
[08:59] {Threei}  corrosion of socialism manifested in unfunded obligations that at some point overwhelm the ability to stay afloat ruined Eastern Europe,
[08:59] {RonS} leemings = lemmings
[08:59] {Threei}  as soon as celebration in the West ended, this corrosive contagion spread out there and is about to finish its destructive job,
[09:00] {Threei}  Asia takes its turn with "can do" attitude and economic rise,
[09:00] {Threei}  if it succeeds (and it likely will), it will dominate the world's economic growth for a few decades,
[09:01] {Threei}  they corosion will come there, while common sense slowly returns to those fallen before
[09:01] {Les} does this mean I have to move to China now?
[09:01] {nemo} please do
[09:01] {Threei}  lol
[09:01] {Les} lol
[09:02] {nemo} I know some people in Shanghai that care of you...yeah, that's it...take care of you
[09:03] {Les} always the socialite, aren't you
[09:03] {Les} you polished that sigg today?
[09:03] {Threei}  urgent return of common sense, enduring some seriously tough times in the name of austerity now could turn things around for the West,
[09:03] {Threei}  but how likely is it to happen?
[09:03] {nemo} socialite?
[09:03] {nemo} no, oil it and switch out mags every 3 months
[09:04] {Threei}  that "take care of you" reminded me a russian joke
[09:04] {Threei}  guy phones emergency, screams about his buddy that doesn't breathe gets blue in the face and generally seems to be dead or dying
[09:05] {ese} morning
[09:05] {Threei}  ese :)
[09:05] {Threei}  operator sends paramedics, meanwhile instructs him,
[09:05] {Threei}  saying "go back to him, make sure he is dead"
[09:05] {Threei}  guy shrugs, goes back, operator hears a gunshot,
[09:05] {Threei}  guy returns and says "allright, he IS dead"
[09:06] {Les} the ghost of stalin lives in modern russian culture I see
[09:07] {Threei}  not just Stalin
[09:07] {Threei}  there were enough murderes before and after
[09:08] {Threei}  and yes, mass incarcerations created widespread prison culture, more mainstream than in normal societies,
[09:09] {Threei}  where a lot of things you generally hear in prison-related world became almost a normalized part of daily culture
[09:09] {Les} so America did learn something from Soviet Union
[09:09] {larisa} gm:)
[09:09] {Threei}  correction: USD SHARE DECLINES TO 61.5%
[09:09] {Threei}  larisa :)
[09:10] {Threei}  not in this regard Les
[09:10] {nemo} TSLA riding 25.50
[09:10] {Threei}  mass incarcerations in US never had place on a scale anywhere even close
[09:11] {nemo} no, but the cultural impact of incarceration on the black community is widespread
[09:11] {nemo} that's where the whole baggy pants hanging off the ass started
[09:11] {nemo} prison wear
[09:11] {Les} if we are talking about Stalin, that I understand.
[09:11] {Les} But more recent decades, prison % was still high?
[09:11] {Threei}  that's when it started
[09:12] {nemo} ?
[09:12] {Les} 15:10 Threei mass incarcerations in US never had place on a scale anywhere even close
[09:12] {Les} u drinking vodka already?
[09:12] {Threei}  don't know... but it was more in line with normal, not millions upon millions sent to camps for no reason other than create cheap labor
[09:12] {nemo} that means I would have had to stop in the first place
[09:13] {RonS} became legitimate in Russia w/ Peter the Great...
[09:14] {nemo} even Zhukov cut trees for the glory of the proletariat
[09:15] {Les} scares me you guys know so much about totalitarian history
[09:15] {nemo} who?
[09:17] {strider} .
[09:17] {strider} morning all.
[09:17] {Threei}  strider :)
[09:17] {strider} howdy:)
[09:18] {RonS} history Les...non-specific
[09:18] {RonS} the mind-blower is that in terms of geologic or universal time all of this is much ado about nothing...
[09:18] {RonS} got to be a Soviet joke abut that...:D
06[09:18] * nemo slaps RonS around a bit with a large Encyclopedia of philosophy
[09:19] {Threei}  I have a better joke for you:
[09:19] {Threei}  US) Fed's Duke: Could take "really quite a while" for mortgage credit to recover
[09:19] {RonS} nihilism
[09:21] {Threei}  - Fed should not start selling assets until after raising interest rates.
[09:21] {Threei}  - Fed will communicate in advance its intentions and will not surprise markets.
[09:21] {dino} gm all
[09:22] {Threei}  dino :)
[09:22] {RonS} i wish i could get paid for stating the obvious. These Fed guys are absolutely specious.
[09:22] {strider} dino:)
[09:23] {dino} looking like a fool w/your pants on the ground
[09:23] {dino} :D
[09:23] {ese} Vad......just noticed that my intelliscan expires in 3 days......could you renew that please.....pretty please with sugar on it......
[09:24] {ese} morning dino
[09:24] {dino} gm 3i, strider, es
[09:24] {RonS} ...starting as a tough day...tnx off 29.74 high to 29.56.  The 10 yr needs to go above 3% for any real run...
[09:26] {Threei}  look again ese
[09:26] {dino} watching clf, fcx, fdx, ctrp, itri, pot, rimm for gap (nemo where was that gap?), whr
[09:26] {ese} ahhhhhhhh expires in 399 days
[09:26] {Threei}  magic :)
[09:26] {ese} thanks
[09:26] {lasertrev} morning
[09:26] {Threei}  trev :)
[09:27] {bellowsbunch} gm
[09:28] {dino} gm
[09:28] {Threei}  bellows :)
[09:28] {dino} any thoughts we are stuck in big range 1131-1035
[09:29] {Threei}  until we break it...
[09:30] {Les} lvs 23 recross?
[09:30] {Threei}  US) Preview: June Chicago Purchasing Manager Index due out at 09:45ET
[09:30] {Threei}  **Consensus expectation: 59.0e v 59.7 prior
[09:30] {Threei}  - estimates range between 55-63
[09:30] {Threei}  **NOTE: the April headline reading of 63.8 was the highest since April 2005.
[09:30] {Threei}  it never went below
[09:31] {Les} if it does
[09:31] {Les} RIMM!
[09:32] {bellowsbunch} its nothing now
[09:33] {Threei}  OK, LVS,
[09:33] {Threei}  one more big red candle to get interested
[09:33] {Threei}  to under .90
[09:34] {Threei}  23.05 break worth a try
[09:34] {Threei}  if holding above .95
[09:35] {Threei}  no chasing if missed, let it come back or let it go
[09:35] {dino} clf hl l .75
[09:35] {Threei}  AMMD Receives 510(k) Clearance of Its MoXy Liquid Cooled Fiber for Fast, Safe Treatment of Enlarged Prostate
[09:35] {dino} pulp
[09:35] {Threei}  1:1 LVS
[09:35] {Threei}  half out
[09:35] {Threei}  scalpers be happy
[09:36] {jfjf64} ty
[09:37] {dino} out clf .13,
[09:37] {dino} +.38
[09:37] {Threei}  wtg
[09:37] {Threei}  1:2 LVS
[09:37] {Threei}  out in full
[09:37] {dino} ty
[09:37] {RonS} out dndn +.29
[09:37] {dino} wtg
[09:37] {Threei}  nice catch ron
[09:38] {RonS} celg purchase prompted me...
[09:38] {dino} whr hl l .42 ave
[09:38] {RonS} gonna miss affx
[09:39] {Threei} Long Setup:  BP  .80 break
[09:40] {Threei}  if stays above .70
[09:40] {Threei}  not likely to be an easy trade
[09:40] {dino} sm l fdx .20
[09:40] {Threei}  LVS over 1:3... without us on board
[09:41] {jfjf64} f
[09:41] {dino} fcx sm l .00
[09:41] {Threei}  BP 1:1
[09:41] {Les} half out ty
[09:42] {jfjf64} ty
[09:42] {Les} out whr +.70 ty dino
[09:42] {Threei}  call me a stinky scalper but I am out in full
[09:42] {Les} with bp i understand
[09:43] {dino} gj les!
[09:43] {gregns} ty for both
[09:43] {Threei}  greg :)
[09:44] {jfjf64} 3i
[09:44] {Threei}  yes sir?
[09:44] {dino} out whr .77 ave, +1.35
[09:44] {Threei}  wow dino
[09:44] {jfjf64} ya  runnin away  fast today
[09:44] {jfjf64} lol
[09:44] {jfjf64} ty
[09:44] {Les} sweet
[09:44] {jfjf64} 2/2
[09:44] {Threei}  :)
[09:44] {dino} :D
[09:44] {jfjf64} one  more   W
[09:44] {jfjf64} F
[09:45] {jfjf64} I
[09:45] {jfjf64} S
[09:45] {jfjf64} H
[09:45] {jfjf64} I
[09:45] {jfjf64} N
[09:45] {jfjf64} G
[09:45] {jfjf64} !!!!!!!!
[09:45] {Les} out other half bp for scalp except 100 shares
[09:45] {Threei}  hey, lay off that morning shot of vodka, will ya {G}
[09:45] {Les} there should be laws against enjoying life so well jf
[09:45] {Threei}  lol
[09:46] {Les} have some kids
[09:46] {Les} suffer with us
[09:46] {dino} nice jf
[09:46] {jfjf64} 3boys
[09:46] {Les} what's the secret?
[09:46] {jfjf64} pbr/a
[09:46] {Threei}  US) June Chicago Purchasing Managers Index: 59.1 v 59.0e
[09:46] {jfjf64} .53 break
[09:47] {strider} AMZN happy
[09:47] {Les} forgot chipotle 138 break ay ay ay
[09:47] {RonS} out bidu +1.15
[09:48] {dino} out fcx .50, +.50
[09:48] {dino} out fdx .63, +.43
[09:48] {jfjf64} wtg
[09:48] {dino} gj ronzo
[09:48] {jfjf64} dino
[09:48] {nemo} let
[09:48] {nemo} sorry
[09:49] {dino} jf?
[09:49] {ese} G
[09:49] {ese} O
[09:49] {dino} oh i see
[09:49] {ese} L
[09:49] {ese} F
[09:49] {ese} !!!!!!!!
[09:49] {dino} at 4:30 today es
[09:49] {ese} not golfing today but hitting the range
[09:50] {Les} hedonists, the lot of ya
[09:50] {Threei}  and proud of it
[09:50] {RonS} masochists more like it
[09:50] {dino} extremely
[09:50] {nemo} I'm a sadist myself
[09:50] {Threei}  you should have seen what a beautufl dinner I prepared yesterday bbquing pork chops on the cedar plank
[09:51] {dino} i think we get a chance on round two
[09:51] {Les} like i said nemo, a hedonist
[09:51] {nemo} ;)
[09:51] {nemo} nice one les
[09:51] {Threei}  RIMM
[09:51] {Threei}  watching for short setup
[09:51] {RonS} is there cedar in Russia? or was it a BC discovery?
[09:52] {Threei}  desirably, bounce above .30, little consolidation, staying under .40
[09:52] {Threei}  then breakdown
[09:52] {Les} bp 29 break
[09:52] {Threei}  there is cedar of course, but learned this method of cooking here
[09:52] {strider} too fast, rimm
[09:52] {nemo} yeah
[09:52] {Threei}  this loss of .30 was way too quick on RIMM
[09:53] {Threei}  wanted a bit more consolidation
[09:53] {Threei}  waiting
[09:53] {dino} whr hl l 49
[09:53] {Threei}  however alternative method:
[09:53] {nemo} indices starting to show some red
[09:53] {Threei}  .20 break if stays under .30,
[09:53] {Threei}  with market breakdown
[09:53] {nemo} oops
[09:53] {Threei}  ok... that again was too fast
[09:53] {nemo} SKYPE!
[09:53] {Threei}  go away
[09:54] {Threei}  in this case point is not in typing
[09:54] {Threei}  point is in absence of consoildation
[09:54] {Threei}  thus, high likelihood of the move being just a noise
[09:54] {Threei}  not true breakdown
[09:54] {Les} cover + .08 yeh bit volatile
[09:55] {Threei}  ok, valid break now
[09:55] {dino} out whr .45, -.04
[09:55] {Threei} Short Setup: RIMM  .20 break
[09:55] {Threei}  half lot
[09:55] {Threei}  if stays under .30 for scalprs
[09:56] {Threei}  .40 for day traders
[09:56] {Threei}  scalpers have 1:1
[09:57] {RonS} aapl is w e a k
[09:57] {RonS} wow, i cannot short rimm....This means Fidelity holds no shares or some institution has borrowed all of their holdings to short.  RIMM is in a world of hurt...
[10:00] {Threei}  day traders have 1:1
[10:00] {Threei}  jf, you wanted one more
[10:01] {jfjf64} im on boat
[10:01] {dino} cyber has it
[10:01] {Threei}  there you go - be a true hedonist and go fishing
[10:01] {jfjf64} T
[10:01] {jfjf64} Y
[10:01] {Threei}  Y
[10:01] {Threei}  W
[10:02] {jfjf64} YW
[10:02] {jfjf64} AHH
[10:02] {dino} gj guys
[10:02] {jfjf64} might hang  around littlle longer
[10:02] {jfjf64} GOT
[10:03] {jfjf64} A
[10:03] {RonS} tsla is ridiculous
[10:03] {jfjf64} FEELIN
[10:03] {Threei}  who held half RIMM, stop to b/e and cover in full if reaches 1:2
[10:03] {Threei}  watching SNDK
[10:03] {dino} fdx hl .26 l
[10:03] {Threei}  for possible short
[10:04] {Threei}  over 1:2
[10:04] {Threei}  cover and let it go
[10:05] {Threei}  relatively easy 40 cents
[10:05] {Threei}  SNDK unclear
[10:06] {dino} whr hl l .11
[10:07] {Les} vad bp read?
[10:07] {jfjf64} MS
[10:07] {jfjf64} ya lk
[10:08] {Threei}  BP, none
[10:08] {dino} fdx stopped -.27
[10:09] {Threei}  MS... you mean .80 break?
[10:09] {jfjf64} y
[10:09] {dino} fcx lod
[10:09] {Threei}  toughie jf...
[10:10] {dino} fcx sm l .75
[10:10] {dino} too soon
[10:11] {nemo} gonna' test .50 maybe
[10:11] {dino} yeah feels so
[10:12] {dino} stop is .44, sm
[10:12] {Les} lvs .20 b/d?
[10:13] {Threei}  not sure
[10:13] {Threei}  things suddenly became hesitant
[10:13] {Threei}  everything has jellyfish feel to it
[10:13] {nemo} not touching that one
[10:14] {RonS} lol
[10:14] {dino} fdx hl l.04
[10:14] {Les} l fcx .56 after it held .50
[10:14] {ese} L myl .35
[10:15] {Les} sold +:20
[10:16] {ese} stop to break even...tight one
[10:16] {Les} rimm getting weaker
[10:17] {dino} les nice entry fcx
[10:17] {ese} if the qqqq's break up we make some money....if not......break even
[10:19] {Threei}  US) Senate panel approves elimination of liability limits with regards to oil spills (as expected)
[10:20] {RonS} wow ese, myl shows 81mil short, 24% of float
[10:20] {ese} breaing up anyway
[10:20] {ese} breaking
[10:20] {ese} ouuuuu......this could go.....didn't look at that
[10:21] {dino} whr stopped -.30
[10:21] {ese} out myl .36
[10:21] {ese} stopped
[10:21] {ese} thats ok....gonna keep following it
[10:22] {Threei}  BP breakdown
[10:22] {Threei}  strange... I wouldn't think that news was really news, was quite widely expected
[10:22] {Threei}  (US) US Trade Rep: Have won case against Airbus with regards to EU subsidies (related EAD.FR BA )
[10:23] {Les} but lost the war as the world returns to protectionist economies
[10:23] {ese} L myl .35
[10:23] {ese} again
[10:25] {dino} whr hl l .56
[10:26] {ese} stop myl .33
[10:26] {dino} giddy-up gut says
[10:27] {ese} stopped.33
[10:27] {ese} -.02
[10:27] {RonS} can we get an entry to short rig? (rhetorical)
[10:28] {Threei}  feels bounce-bound here
[10:28] {Threei}  .60 break
[10:28] {Threei}  if holding .50
[10:28] {Threei}  loss of .50 is legit short trigger, just very risky
[10:29] {jfjf64} ??
[10:29] {RonS} crude report soon
[10:29] {Threei}  1:1 on short side
[10:29] {dino} out fdx .30, +.26
[10:29] {Threei}  jf... what puzzles you so much?
[10:29] {magoo} morning
[10:29] {Threei}  hey mags
[10:29] {dino} gm old man
[10:30] {Threei}  DOE CRUDE: -2M V -1ME
[10:30] {Threei}  GASOLINE: +540K V -500KE; DISTILLATE: +2.5M V +1.1ME
[10:30] {magoo} how'd mkts close yesterday? as in push up, selloff? final number
[10:30] {dino} sell off
[10:31] {Threei}  IMF discloses Gold holdings declined to 15.25 tons
[10:31] {Threei}  - Shows Russia holdings at 703.1 tons; +22.5T v prior
[10:31] {dino} -270 or so, was -330
[10:31] {magoo} points close?
[10:31] {dino} yes
[10:31] {magoo} oh
[10:31] {dino} bloody
[10:35] {RonS} imagine that phone call:  er, fcx, this is Russian guvmint...send me 20 tons of gold...i will send you rubles
[10:35] {dino} fcx replies, no euros please
[10:37] {dino} whr out .00, +.44
[10:37] {RonS} gj
[10:38] {dino} ty
[10:40] {dino} out fcx flat thing won't move
[10:41] {dino} watch whr around 89.50s imo
[10:42] {nemo} bidu showing wedge
[10:43] {nemo} and holding realtively well against this downdraft
[10:43] {nemo} relatively
[10:43] {nemo} nope
[10:44] {dino} hmm
[10:46] {nemo} acctually biu held trend
[10:46] {nemo} bidu
[10:46] {nemo} big offer .20
[10:47] {Les} looking weak dino. u still think up?
[10:47] {dino} no opinion
[10:48] {dino} thinking i chickened out on whr
[10:48] {Threei}  in canada Day celebration, harbour feries stage water ballet tomorrow
[10:48] {ese} thats a dangerous one nemo......tried it a couple of weeks ago and it scared the hell out of me
[10:48] {Threei}  cute
[10:48] {ese} bidu thats is
[10:48] {jfjf64} yuk
[10:49] {ese} have seen it vad..........was surprised they didn't crash into one another
[10:49] {Threei}  no kidding
[10:50] {Threei}  10:45 am... no chance for me
[10:50] {jfjf64} id rather  watch them POLEdance
[10:50] {Threei}  ferries??
[10:51] {Threei}  wow jf... that takes prize as far as perversion goes {G}
[10:51] {jfjf64} lol
[10:51] {jfjf64} ballet
[10:51] {jfjf64} i missed  ferries
[10:51] {jfjf64} oh boy
[10:51] {Threei}  lol
[10:51] {dino} ahh yes, the pole dance ballet, indeed
[10:52] {Threei}  you guys
[10:52] {jfjf64} yes yes
[10:52] {Threei}  I can see all the girls in the room rolling their eyes
[10:52] {jfjf64} we cd  count  nemo  in
[10:52] {dino} fcx hl l .50
[10:52] {nemo} in what
[10:52] {nemo} ?
[10:52] {jfjf64} im sorry ladies
[10:53] {Threei}  no you are not
[10:53] {jfjf64} go  bk  to  sleep  nemo
[10:53] {Threei}  don't believe him ladies
[10:53] {nemo} let's see, rack the slide...
[10:53] {nemo} point at jf...
[10:53] {Threei}  btw guys
[10:53] {ese} L myl .28
[10:54] {Threei}  in case someone contemplates a week off,
[10:54] {Threei}  I will be away second week of August, 9-13
[10:54] {Les} is that legal?
[10:55] {Threei}  Portland and Orgeon coast car trip
[10:55] {jfjf64} refunds all
[10:55] {jfjf64} lol
[10:55] {jfjf64} i foegot august n/c
[10:55] {RonS} Lincoln City, OR has pretty good seafood retaurants...
[10:56] {Les} what are you talking about vad. take your ipad with you
[10:56] {gregns} you cant go unless you spell it right  (Orgeon)
[10:56] {jfjf64} good idea  les
[10:56] {ese} some nice golf courses dn that way vad........
[10:56] {Threei}  lol greg
[10:56] {RonS} Tillamook cheese in Tillamook...and Astoria is a pretty nice town
[10:57] {jfjf64} i was born in astoria
[10:57] {jfjf64} QUEENS NY
[10:57] {Threei}  after Portland, hitting Florence, then making my way up the coast to Astoria, and vis Olympic peninsula to Port Angeles for ferry back home
[10:57] {RonS} ...means you are "wet behind the ears" forever
[10:58] {Threei}  (EU) ECB's Trichet: Declines to say whether the ECB would purchase more covered bonds; short-term repos will permit an orderly transition from the LTRO
[10:58] {Threei}  - Notes that the EU bank stress tests will include significantly more than 26 banks
[10:58] {RonS} ...sorry...talking 'bout Astoria rains all of the time
[10:58] {dino} fcx stopped -.26
[10:59] {jfjf64} lol
[11:00] {RonS} 3i, the oysters in that first WA town across the Columbia are stellar.  Grown right there...
[11:01] {Threei}  Chinook?
[11:02] {RonS} jf, Astoria OR and NY named after the same guy...John Jacob Astor
[11:02] {jfjf64} stop
[11:02] {RonS} i will have to look it up...only went there once...
[11:06] {dino} rinsed a few today, hmmm
[11:08] {ese} yup
[11:09] {ese} although there is hope here for L .28
[11:09] {strider} long FCX .39
[11:09] {strider} stop below .20
[11:10] {Threei}  Google Inc Web search engine has been reportedly been partially blocked today in Mainland China
[11:10] {Threei}  - Reminder: Yesterday Google stopped the automatic reroute to Hong Kong, in favor of providing the linking to the Hong Kong site; Google had noted that it was unclear whether their license would be maintained in China as China had yet to respond to the change
[11:10] {dino} pot hl l .15
[11:11] {ese} think Germany 1930's to 1945
[11:11] {strider} out FCX .59 +.20
[11:11] {ese} only thing is they can't burn Google
[11:12] {dino} gj strider thing rinsed me
[11:13] {strider} tx
[11:13] {ese} yup nice one st
[11:13] {Threei}  TiVo Inc Partners with ONO in Spain
[11:13] {Threei}  - Signed a strategic agreement to deploy 'next generation TV' in Spain. Through the combination of its modern fibre optic network and TiVo's best in class television user experience, ONO will be able to offer Spanish homes the most advanced video service on the market, in a seamless convergence between Internet and traditional television content
[11:14] {ese} st.......what were you looking for in terms of a bottom for fcx.....that 100k volume spike
[11:15] {strider} huh ?  :)
[11:15] {ese} when you went long......what was your entry based on
[11:15] {ese} volume........ ma's ......
[11:15] {ese} ?
[11:16] {ese} or straight price action
[11:16] {strider} The chart pattern..fron 11 to 11:10.
[11:17] {strider} rise off bottom, slight flattening out...wasn't as much consolidation as there should have been.
[11:17] {ese} tks.......always learnin
[11:18] {Threei}  British Petroleum plc One member of congress has reportedly suggested that BP be temporarily banned from drilling
[11:19] {dino} whr hl l /05
[11:20] {dino} all the rigs are going to africa anyway
[11:21] {dino} out pot .45, +.30
[11:22] {dino} sm l itri .11\
[11:25] {strider} long FCX .70
[11:25] {strider} stop below .60
[11:27] {Threei}  break or fizzle out?
[11:27] {Threei}  SPY
[11:27] {Threei}  let's vote
[11:27] {Les} spy above pivot should break
[11:28] {Les} qqqq's below pivot all not clear yet
[11:28] {Threei}  fizzle out is my choice
[11:28] {strider} stop . -12
[11:28] {strider} fizzle
[11:28] {Threei}  Prez Is Pushing for Immigration Reform
[11:29] {Threei}  yup... not enough on the plate
[11:29] {Threei}  time to get to that
[11:30] {Les} well it fills the headlines for a time
[11:31] {Threei}  intends to give a speech tomorrow and make it a priority, to be done this year
[11:33] {dino} just great, more high and mighty talk
[11:34] {dino} most likely he'll explain that we just don't inderstand anything, so let hjim do right
[11:34] {dino} understand
[11:35] {dino} whr stopped -.02
[11:35] {dino} taking break
[11:37] {ese} added more myl pos....L  .28
[11:37] {RonS} well nuts 3i...i went looking for the restaurant that had to be on Willapa Bay, north out of Ilwaco.  Could not find it, sorry...
[11:38] {Threei}  it's OK... I have more places to see and stop at than I have time for :)
[11:39] {RonS} so true...the traveler's paradox
[11:40] {Threei}  if anyone has driven Hwy101 West between Astoria and Port Angeles though, dcc me pls, got couple questions
[11:41] {Threei}  watching HASL meanwhile
[11:41] {Threei}  HAL
[11:41] {Threei}  with short idea
[11:41] {Threei}  doesn't test day high while market does
[11:42] {RonS} pten has a very interesting daily setting up...
[11:43] {RonS} omg, the intra-day on pten and hal are almost identical
[11:45] {nemo} think market wants to test yesterday
[11:45] {nemo} highs
[11:48] {Les} rimm testing hod
[11:51] {Les} l whr .01
[11:51] {RonS} tsla lol
[11:51] {Les} remember reading the owner was strapped for cash. can imagine him laughing all the way to bank now
[11:52] {nemo} he's in the middle of a divorce
[11:52] {Les} ouch
[11:52] {nemo} wife laughing, he's crying
[11:52] {Threei}  so he is not the opnly one laughing
[11:52] {Threei}  or maybe he went public after assets sharing cutoff date
[11:53] {nemo} nope, it was a story in the news about a month ago
[11:54] {Threei}  US) California Controller Chiang: It is possible may need to go back to the IOU system; have enough cash to get through Sept - CNBC
[11:54] {Threei}  - Its clear structural changes are needed
[11:54] {Les} yeh need to automate printing process of IOU's
[11:54] {Les} whr stopped
[11:55] {Threei}  HAL, bounce over .50, little consolidation, break of it again while staying under .60 is short idea
[11:58] {Threei}  (US) US Senate Majority Leader Reid (D-NV): No vote planned on FINREG in Senate until after the July 4 recess
[11:58] {Threei}  - Note: House is expected to vote on FINREG later today
[12:02] {dino} not even needed, just enforce current rules. a bunch of bs
[12:03] {Threei}  EU) EU President Van Rompuy: There is a lack of coherence in the Euro Zone
[12:03] {Threei}  you don't say
[12:04] {Threei}  US) Senator Frank (D-MA): FinReg bill is "not amendable"
[12:04] {Threei}  neither is your head
[12:04] {nemo} "Senator"?
[12:05] {Les} what the hell you doing voting in this guy nemo?
[12:05] {nemo} I didn't...but I live in The People's Republic
[12:05] {RonS} of Santa Monica?
[12:06] {Les} he brought any good pork home to the people of MA?
[12:06] {dino} and i live in the broken stone state, used to be keystone
[12:07] {dino} lol les, but he is a porker
[12:08] {RonS} ...i think he brought home Franklin Raines a few times and porked him Les
[12:08] {dino} lol, don't drop the soap
[12:09] {Les} lol it's THAT guy is it. I'd forgotten who was the centre of that scandle
[12:10] {RonS}  a la Soviet joke...San Fran joke:  What do you do if you drop your keys on Casto Street?...Kick them down to Filmore before you pick them up
[12:10] {RonS} Casto = Castro
[12:10] {dino} lol
[12:11] {nemo} same joke in Massachusetts, just insert Ptown and Wellfleet
[12:11] {Threei}  things are getting interesting:
[12:11] {Threei}  (IR) Iran Official: Warns of "dire consequences" from further sanctions against Iran - letter to UN (related USO UNG GLD )
[12:15] {dino} some rally we have going on
[12:16] {Les} break and fizzle, so everyone can be frustrated
[12:16] {Threei}  this saturday annual local RT members shsishkebab at my place,
[12:16] {nemo} so far consolidating inside yesterday
[12:16] {Threei}  who wants to grab last minute tocickets and jon, you still have time
[12:16] {nemo} well post rop yesterday
[12:18] {dino} thx 3i, just can't swing it
[12:21] {Threei}  anyone took HAL:, cover half here
[12:21] {strider} Thanks for the advance notice.  :)
[12:23] {Les} thanks vad. a couple of small scalps now. don't trust anything today
[12:24] {Les} least of all myself. a bit tired, and making aweful errors
[12:28] {nemo} biu broke
[12:28] {nemo} bidu
[12:31] {Threei}  ENER Hearing more vague chatter circulating of a collaboration deal with Toyota
[12:31] {strider} short  AMZN .35, stop hod
[12:31] {strider} small
[12:34] {strider} stop -.17
[12:34] {strider} oh well.
[12:37] {ese} be back in a while last 1/2 day of school...staff meeting
[12:38] {Les} ciao
[12:45] {RonS} strider, u got rinsed amzn...:(
[12:45] {Threei}  HAL 1:2
[12:45] {Threei}  over and out
[12:55] {Les} rimm b/d vad?
[12:55] {Les} .40?
[12:56] {strider} long FCX .81
[12:56] {Les} s .39
[12:59] {Les} stopped
[13:00] {Threei}  why pusah at this random lunch time?
[13:00] {Threei}  push
[13:01] {Les} yeh
[13:07] {RonS} 3i, do you see a bidu play?
[13:07] {nemo} yeah short
[13:08] {nemo} 200 at .49
[13:09] {nemo} vwap at about .22
[13:12] {Threei}  dunno, looks so random to me
[13:13] {nemo} right now vwap supporting it at .22, overhead resistace is likely the 200 around .49
[13:13] {dino} fdx hl l .26
[13:16] {nemo} spy been riding the 50 ma on 5 minute chart for last 40 minutes
[13:21] {Threei}  covered HAL too soon eh
[13:26] {strider} out FCX +.05  lucky to get out
[13:27] {strider} long fdx .26
[13:29] {strider} stop  below .20
[13:30] {strider} dino,, where's your stop, fdx?
[13:33] {strider} stop fdx -09
[13:35] {strider} long .11 fdx
[13:35] {dino} .99
[13:36] {strider} thx
[13:36] {dino} npwhat was size on fcx?
[13:36] {strider} my trade size?
[13:36] {dino} curious
[13:36] {strider} just 100
[13:37] {dino} ok
[13:37] {dino} things' tough today
[13:37] {strider} small=100, full=200 for me.
[13:37] {dino} watching whr again
[13:37] {Threei}  RIG US Sen Baucus has reportedly opened an inquiry into tax practices at the company
[13:37] {dino} thx stride
[13:38] {dino} tax practices, what the heck, harrassment more like it
[13:38] {strider} whr really ugly h&s
[13:38] {strider} boogey man
[13:40] {dino} 89.50s wait
[13:40] {dino} brb
[13:44] {strider} stop fdx...again
[13:45] {dino} me too
[13:45] {dino} afternoons hurting me lately, used to be my bread and butter
[13:46] {RonS} check bp
[13:46] {strider} I usually just have butter.
[13:47] {dino} butter better under low carb plan
[13:54] {dino} fcx hl l .50
[13:54] {dino} fdx rinsed us
[13:55] {dino} v sm l ma .00
[13:56] {Threei}  US) National Hurricane Center (NHC): Hurricane Alex gains strength; 85mph max sustained winds
[14:00] {Threei}  US) Fed's Lockhart: US economy is shifting from public spending to private demand
[14:00] {Threei}  it is?
[14:04] {hawk} X long .50 hl
[14:04] {Threei}  uh oh
[14:05] {Threei}  decision to initiate this review was prompted by (1) the deteriorating (short-term and long-term) economic growth prospects; (2) the challenges the government faces in achieving its fiscal targets; and (3) concerns over the impact of rising funding costs over the medium term.
[14:07] {Threei}  If at the conclusion of the review, Spain's ratings are lowered, it would most likely be by one, or at most two, notches. The rating agency intends to conclude its review within a three-month period
[14:07] {Threei}  market is more likely to dismiss this
[14:07] {Threei}  I'd expect bounce now
[14:08] {Threei}  hawk, stop under .40?
[14:08] {bellowsbunch} bounce on which
[14:08] {Threei}  market
[14:08] {Threei}  X
[14:09] {hawk} yep, about .35 for me
[14:09] {Threei}  ok
[14:09] {Threei}  very unfortnate timing of this announcement, right on your entry
[14:09] {hawk} the rain in spain was causing me pain
[14:10] {Threei}  even though on the plain
[14:10] {dino} lol hawk
[14:10] {strider} quite a strain
[14:10] {larisa} in your brain :)
[14:10] {hawk} :)
[14:10] {dino} pretty lame
[14:10] {larisa} lol
[14:10] {Threei}  from the long stay in plane
[14:10] {strider} approximate rhymes don't count
[14:10] {dino} its all a game
[14:11] {dino} nothing quite the same
[14:11] {Threei}  but we poets want fame
[14:11] {dino} nothing really matters but the game
[14:11] {dino} esi drop
[14:11] {Les} this group is insane
[14:11] {dino} markets are whippy
[14:12] {strider} that's quite plain
[14:12] {Threei}  here Les adds the flame
[14:12] {bellowsbunch} bp
[14:12] {Les} spy/q's diverging. which is right...
[14:12] {strider} ain't it a shame
[14:14] {Les} vad places the blame
[14:14] {dptl} have a good evening all
[14:14] {RonS} cya dp
[14:14] {Threei}  take care dp
[14:14] {Les} i hope plays again
[14:14] {Les} i hope dp plays again
[14:14] {Les} shit i'm bored
[14:15] {strider} Do you often talk to yourself?
[14:16] {Les} depends if anyone else is listening
[14:16] {Threei}  talking to others was in vain
[14:16] {Les} OH NO not again!
[14:16] {hawk} stopped x -.16
[14:18] {dino} reminds me of blain the train
[14:18] {Threei}  lol
[14:18] {dino} you remember
[14:18] {Les} you mean Thomas don't you?
[14:18] {Threei}  I do
[14:18] {dino} no
[14:18] {dino} dark tower
[14:23] {dino} fcx stopped
[14:24] {Threei}  Moody keeps adding new details to their review
[14:24] {Threei}  changing the tune all the time
[14:26] {Les} rig and hal dropping hard bp holding
[14:26] {Les} hal 25 b/d following bounce?
[14:27] {Les} or recross of .10 for aggressive entry?
[14:30] {Threei}  neither
[14:31] {Les} ok
[14:31] {Threei}  not settled enough fo good odds
[14:31] {Les} the market, stock, or both?
[14:32] {Threei}  both
[14:35] {bellowsbunch} not much doin huh
[14:36] {nemo} been pretty narrow market
[14:36] {Les} sort of market I love to hate. was up early, considering leaving, and pushed my luck
[14:36] {nemo} still digesting yesterday's drop
[14:36] {nemo} take the summer off les
[14:36] {Les} you'd miss me
[14:36] {nemo} like I'd miss a case of the clap
[14:37] {strider} and you never missed one of those, did you?
[14:37] {dino} lol
[14:37] {Les} depends what the clap comes with...
[14:37] {strider} applause, of course.
[14:37] {Les} hehe
[14:38] {Les} both bp and hal not bouncing with the market
[14:40] {strider} AIG on CBNC...we haven't looked at that in awhile.'
[14:40] {Les} went quiet
[14:41] {dino} tyg
[14:41] {Threei}  still quiet
[14:43] {strider} coning up on CNBC....what are the dangers of drunk trading?
[14:43] {Les} futures trader in london
[14:43] {RonS} nemo on?
[14:43] {strider} Vad you didn't tell us you were going to be interviewed again.
[14:43] {Les} lol
[14:43] {nemo} ohhh...thanks for reminding me
[14:44] {RonS}'s good to be thirsty...
[14:44] {nemo} It's good to have a bottle of Grey Goose by your side
[14:44] {Threei}  that's because I wasn't going to strider - they haven't promised to pour drink until last minute
[14:45] {strider} good self-control, vad.
[14:45] {dino} whr hl l .55 ave
[14:45] {strider} did you average down on that, dino?
[14:46] {dino} no
[14:47] {strider} k
[14:47] {nemo} average up?
[14:47] {dino} some .48
[14:47] {dino} new entries
[14:47] {dino} thing gaps around
[14:47] {nemo} whoa...Tiger's ex gets 750 million
[14:48] {dino} nice
[14:48] {dino} you have her #
[14:48] {Les} dumbass
[14:48] {strider} I didn't know she split.
[14:48] {Les} you been hiding in the cave hillbilly
[14:49] {nemo} yeah, can hear deliverance on the banjo
[14:49] {strider} I don't stand in the check out line reading magazines for housewives.
[14:50] {Les} u got me there
[14:50] {nemo} as if I am
[14:50] {nemo} was on Drudge
[14:51] {strider} I gotta go see a man about an orange motorcycle.
[14:51] {nemo} ?
[14:51] {strider} Can't be worth much.
[14:51] {nemo} what kind?
[14:51] {strider} I'm  embarrassed to say.
[14:52] {nemo} c'mon
[14:52] {strider} One of the domestic brands.  :)
[14:52] {nemo} there are three, kinda'
[14:52] {nemo} well, Buel is out..right
[14:52] {strider} Victory, HD, and what else?
[14:52] {nemo} that leaves HD
[14:52] {nemo} Indian
[14:52] {nemo} Buell
[14:53] {strider} Buell, still a HD
[14:53] {nemo} although I think they stopped making the Indians too
[14:53] {nemo} yeah, true
[14:53] {nemo} whadddya' think fcx here dino?
[14:54] {strider} See y'all tomorrow.
[14:54] {RonS} cya strider
[14:54] {nemo} it's probably a moped
[14:54] {strider} Yes, a Craftsman.
[14:54] {nemo} hehehehe
[14:54] {Threei}  take care strider
[14:54] {strider} Ted Williams model.
[14:54] {strider} thx..
[14:54] {RonS} frozen?
[15:04] {Les} was tight
[15:04] {Les},1518,703916,00.html
[15:15] {dino} dk, got sidetracked
[15:15] {nemo} to what are you referring?
[15:15] {dino} june lows 58s
[15:15] {dino} fcx
[15:15] {nemo} oh...that was a while ago
[15:17] {nemo} Vad look at the 5 minute on bidu, a tad scary, but might set up a nice short if the market continues down
[15:17] {dino} 8 of 9 if it closes red
[15:17] {nemo} ?
[15:17] {Threei}  with smallish shares, feels right BIDU
[15:17] {Threei}  market sells off nicely
[15:17] {dino} s/p nemo
[15:18] {nemo} ty
[15:21] {nemo} come to think of it, not sure I want to bet against the 1040 level
[15:23] {Threei}  US) House passes incremental vote towards final vote on FINREG
[15:23] {Threei}  - Note: The senate highlighted earlier that its passage of FINREG may not come until mid July
[15:23] {dino} hog
[15:23] {Threei}  ok, wisdom gets passed on us from high above:
[15:23] {Threei}  US President Obama: Must move to take control of debt and deficits; prefer growth in region of 4-5%
[15:24] {Les} wow someone doesn't like HOG
[15:24] {nemo} prefer growth, yeah right
[15:24] {RonS} ...what? he talking in the mirror.  Veto spending bills, cut the neg rheoric and anti-business action; and do it...disgusting.
[15:25] {Les} debt growth, or economic growth?
[15:25] {nemo} GDP
[15:25] {dino} you said i ron. the guy just doesn't get it
[15:25] {dino} "get out of the way"
[15:26] {Threei}  hey, piece of good news:
[15:26] {Threei}  Nepal PM resigns
[15:26] {nemo} he was such a pantywaist
[15:26] {Les} the Moaist terrorists will surely be happy
[15:26] {RonS} lol
[15:29] {Les} slowly filling the hole. good b/d's in amzn and ip. finally starting to work
[15:31] {nemo} bidu did break down
[15:31] {Threei}  yup
[15:31] {Threei}  felt right
[15:31] {Threei}  RIMM Hearing boutique research firm speculating RIMM's Blackberry OS6 could be delayed (timing uncertain)
[15:31] {Threei}  - NOTE: last week RIMM said it expects OS6 to be available before the end of Sept. (49.72, -0.03, -0.06%) (related AAPL NOK )
[15:32] {nemo} yeah, unfortunately, didn't set stop far enough
[15:32] {nemo} should have been playing off th 50 ma
[15:32] {nemo} it flirted with it then collapsed
[15:36] {nemo} Unless the PPT steps in in 5 minutes, we likely close under 1040...tomorrow could be a dramamine day
[15:39] {RonS} See you all after Labor Day.  If Vad will let me back in. Decided to take some time off.  Daughter getting married.  Reunions to attend, etc.. All here, or all gone for me.  Luck to all.   ;)
[15:40] {dino} congratulations ron
[15:40] {RonS} txs, its taken 7 years.
[15:40] {nemo} Peace & Quiet, have a nice Summer...drop in and say "hi" so we can abuse you
[15:41] {RonS} lol
[15:41] {Threei}  take care Ron, have a good time
[15:41] {Les} ciao ron enjoy
[15:41] {Threei}  you contacted admin to suspend billing?
[15:41] {RonS} will do...
[15:42] {Threei}  please, because if you don't, your donation will be accpeted
[15:42] {Threei}  congratulations on daughter's marriage
[15:43] {nemo} he's one vad
[15:43] {nemo} gone
[15:43] {nemo} weddings are a bad investment
[15:43] {Threei}  kids are worse
[15:43] {nemo} funny how one often comes from the other
[15:43] {Threei}  first you help them, then they you not
[15:43] {nemo} hehehe...sounds like another cynical russian I know
[15:44] {nemo} oh sorry...
[15:44] {Threei}  it's a russian saying, and the funniest part is: in russian it's beiong said in just as brioken language
[15:44] {nemo} O.K.
[15:44] {Threei}  panic
[15:44] {nemo} so, can we start talking about the fas/faz cross AGAIN
[15:47] {dino} wow, dji -8%; ndx -10%, s/p -9% in 8 trading days, june 21
[15:47] {nemo} Welcome to the doorstep of Armageddon
[15:47] {nemo} yahoo...I love anarchy!
[15:48] {dino} since april his -14, -17, -16
[15:49] {dino} hl l whr .04
[15:49] {dino} fcx hl l .20
[15:50] {dino} out whr .32 ave, _
[15:50] {dino} +.28
[15:52] {dino} fcx stop is .99
[15:53] {dino} screw it stopped -.10
[15:53] {dino} calling it a day, pm sucked, but am carried it
[15:54] {Les} gj I just sucked full stop
[15:55] {dino} 4/4 out of gate,in end 50%
[15:55] {Threei}  stayed picky and remained at 100% second day in the row
[15:55] {dino} gj
[15:55] {Threei}  you guys push it too much when it becomes random
[15:56] {dino} since 6/8 two down days, one flat, rest up
[15:56] {Threei}  beautiful performance
[15:56] {dino} you are right vad, i need to work on sitting more
[15:57] {Threei}  we got the "fixzzle out" right
[15:57] {Threei}  stayed away from false breaks
[15:58] {Threei}  breakdown did look good but came way too late in the day, I was hesitant to commit after 15:30
[15:58] {Threei}  okay guys, thank you all
[15:59] {Threei}  have a good evening, see you tomorrow
[15:59] {larisa} bye!
[15:59] {nemo} c u
[16:00] {dino} thx all, gn