Thursday, July 15, 2010

Jul 15 2010

Nice day as we got most of daily turns right, including a few news-caused moves (finnies and BP). One of trades made the Catch of the Day: JPM bounce caused by GS-related financials rally, read as invalidation of the DBI break.

Session Time: Thu Jul 15 00:00:00 2010
[08:01] {nemo} Hawkster ;)
[08:04] {hawk} morning Nemo :)
[08:16] {Threei}  US) Preview: Weekly Initial Jobless Claims due at 08:30 ET (12:30 GMT)
[08:16] {Threei}  **Consensus expectations:
[08:16] {Threei}  - Initial claims expected at 445Ke v prior week's 454K (estimates range from 395K to 470K)
[08:16] {Threei}  - Continuing claims seen at 4.45Me v prior week at 4.41M (range seen from 4.23M to 4.85M)
[08:16] {Threei}  JPMorgan Chase and Co Reports Q2 $0.87 (ex items) v $0.67e, R$25.6B v $26Be
[08:17] {Threei}  BLTXX Baltic Dry Bulk Index declines less than 1% (35th straight decline)
[08:30] {Threei}  (US) INITIAL JOBLESS CLAIMS: 429K V 445KE; CONTINUING CLAIMS: 4.681M V 4.444ME
[08:30] {Threei}  (US) JUL EMPIRE MANUFACTURING: 5.08 V 18.00E
[08:30] {nemo} ouch
[08:31] {Threei}  ouch is right
[08:31] {nemo} now we know why the Fed sounded cautious yesterday :)
[08:42] {hawk} Vad, movie going taken to a new level...bacon popcorn served at upscale theaters in Chicago
[08:42] {Threei}  huh
[08:42] {Threei}  intrifuinf
[08:42] {Threei}  grrr
[08:42] {Threei}  intriguing
[08:43] {hawk} reviewer said it was great
[08:43] {Threei}  hey, JPM CEO is my new favoriite
[08:43] {Threei}  JPM CEO: Expects home prices might fall "a little bit more," also notes "nobody really knows what's going on with home prices" - conf call Q (40.35, 0.00, 0.00%)
[08:43] {Threei}  how often do you see man of this rank admitting that no one knows something?
[08:59] {magoo} morn
[08:59] {magoo} duid jpm report?
[08:59] {Threei}  magoo :)
[08:59] {Threei}  yes
[08:59] {Threei}  [08:16] {Threei} JPMorgan Chase and Co Reports Q2 $0.87 (ex items) v $0.67e, R$25.6B v $26Be
[09:00] {dino} gm all
[09:00] {Threei}  dino :)
[09:00] {Threei}  Fed's Yellen: Unemployment is painfully high
[09:03] {Threei}  BP Exec: Expects to launch well test soon, replaced leaking hose on well cap (36.18, 0.00, 0.00%)
[09:11] {strider} : June Industrial Production released on July 15 at 9:15am
[09:11] {strider} morning folken
[09:12] {Threei}  strider :)
[09:13] {Threei}  US) Preview: Jun Industrial Production and Capacity Utilization due out at 09:15ET
[09:13] {Threei}  **Consensus expectation:
[09:13] {Threei}  - Industrial Production: -0.1%e v 1.3% prior (estimates range between -0.8% to +0.8%)
[09:13] {Threei}  - Capacity Utilization: 74.1%e v 74.1% prior (estimates range between 73.2-75.2%)
[09:13] {strider} "If simple folk are free from care and fear, simple they will be.  And we must be secret to keep them so."   ---Aragorn
[09:15] {shorty} goood morning
[09:15] {Threei}  shorty :)
[09:16] {Threei}  (US) Jun Industrial Production: 0.1% v -0.1%e; Capacity Utilization: 74.1% v 74.1%e
[09:16] {strider} HOO: om: Cascal N.V. announces intent to voluntarily delist common shares
[09:16] {strider} HOO?
[09:17] {hawk} Horton was a Hoo
[09:20] {strider} what's the Baltic shipping index this morning, vad?
[09:22] {hawk} BLTXX Baltic Dry Bulk Index declines less than 1% (35th straight decline)
[09:22] {strider} thx
[09:22] {Threei}  yup
[09:23] {strider} DRYS showing a little strength last few days.
[09:27] {larisa} gm :)
[09:27] {jfjf64} mornin
[09:27] {Threei}  larisa, jf :)
[09:28] {lasertrev} morning
[09:28] {Threei}  trev :)
[09:30] {lilyd} Hi, this is my first day - hope I don't embarrass myself TOO much...
[09:30] {Threei} Short Setup: LVS  .40 break half lot
[09:31] {Threei}  morning lilyd, welcome
[09:31] {Threei}  stop above .50
[09:31] {Threei}  1:1
[09:31] {magoo} in btw
[09:32] {shorty} out...ty
[09:32] {strider} out 1/2 +.10
[09:32] {jfjf64} yeah lvs
[09:32] {magoo} out .23 TRY
[09:32] {magoo} ty
[09:32] {jfjf64} out
[09:32] {shorty} alright....have a good day, I am going back to bed
[09:32] {Threei}  as we says in Kanada, welkome
[09:32] {Threei}  lol shorty
[09:32] {jfjf64} ty3i
[09:32] {strider} out 1/4 +.05
[09:32] {magoo} i dont get that??
[09:33] {strider} GTIV
[09:33] {Threei}  no one does mags, never mind
[09:33] {shorty} I think I do THreei
[09:34] {Threei}  that's a very very disturbing sign shorty
[09:34] {shorty} "paper bag over my head"
[09:34] {strider} out  bal +.02
[09:34] {Threei}  he who understands my humor must check his mental health asap
[09:34] {shorty} lol
[09:34] {Threei}  BP,
[09:34] {Threei}  let's see if we get double bttom on pullback top .60
[09:35] {Threei}  (CH) US Trade Rep: Bilateral ties with China are threatened by China's lack of commitment to WTO obligations
[09:35] {Threei}  - Highlights concerns the US has over market access in China
[09:36] {magoo} big dive RIG vad
[09:37] {Threei}  (US) US Senate Majority leader Reid (D-NV): Hopeful FINREG can be completed today (related XLF IXG )
[09:37] {Threei}  OK, ideally:
[09:37] {Threei}  dive under .60, holding .50,
[09:37] {Threei}  little consolidation, then re-cross of .60 for entry
[09:38] {Threei}  .80 break is valid setup
[09:38] {Threei}  just not to my taste
[09:38] {Threei}  a bit too risky
[09:38] {strider} you in, magoo:)
[09:38] {Threei}  discretinary one, you likey - you takie
[09:39] {magoo} in
[09:39] {nemo} r/r not so good with morning high at .90
[09:39] {Threei}  well, if break is successful it will just go to new highs,
[09:39] {Threei}  but I hate struggling on this kind of breaks
[09:41] {strider} LVS dive
[09:41] {Threei}  holding well, BP
[09:42] {shorty} in BP
[09:42] {magoo} out
[09:42] {magoo} -.09
[09:42] {shorty} out
[09:43] {Threei}  (US) Preview: July Philadelphia Fed Index due out at 10:00ET
[09:43] {Threei}  **Consensus expectation: 10.0e v 8.0 prior (8.0 in June was the lowest reading since Aug 2009
[09:45] {Threei}  VIVUS, Inc Halted: News pending; ahead of FDA advisory panel meeting on Qnexa obesity drug
[09:45] {Threei}  that'll be interesting
[09:46] {Threei}  I see no news for AKRX, aside of upgrade
[09:47] {dino} lfc sm l .75
[09:49] {strider} morning lily...things kind of hectic at open.
[09:50] {lilyd} gm to you, too...
[09:50] {jfjf64} morninlilly
[09:51] {magoo} any read FCX vad?
[09:51] {magoo} nbice bounce RIG
[09:51] {Threei}  toughie here mags
[09:51] {Threei}  not sure
[09:52] {magoo} q server vad?
[09:53] {Threei}  6
[09:53] {strider} 16 here
[09:53] {dino} opnt, veco
[09:53] {Threei}  something's happening AKRX
[09:54] {strider} AKRX
[09:54] {strider} Akorn initiated with an Outperform at Rodman & Renshaw
[09:54] {strider} Target $5.
[09:54] {Threei}  yeah, that upgrade is the only thing I see
[09:55] {Threei}  FCX firmer
[09:55] {Threei}  closer to a trade
[09:55] {Threei}  I'd say half lot long here
[09:56] {Threei}  on .10 .15 zone break
[09:56] {nemo} db on spy
[09:56] {Threei}  if loses .90, invalidated
[09:56] {magoo} or 62.50 bouncer
[09:57] {Threei}  actually, 63 break now if holding .90
[09:57] {Threei}  or short
[09:57] {Threei}  on .90 loss
[09:57] {Threei}  two-sided setup
[09:57] {Threei}  long it is
[09:57] {nemo} missed
[09:58] {magoo} fast cross
[09:59] {nemo} yeah, had it set at .02 too
[09:59] {Threei}  that's GCX
[09:59] {nemo} no volume
[09:59] {Threei}  too volatile for such tight entries
[09:59] {nemo} ?
[09:59] {Threei}  FCX
[10:00] {jfjf64} nemo  get  some coffee
[10:00] {Threei}  *(US) JULY PHILADELPHIA FED INDEX: 5.1 V 10.0E
[10:00] {Threei}  yikes
[10:00] {nemo} ouch
[10:00] {nemo} the fcx short is back on :)
[10:00] {Threei}  not by me
[10:01] {nemo} might get bounce 84 area
[10:01] {Threei}  20 cents drop in one gasp
[10:01] {Threei}  not chasing this kind
[10:01] {strider} scalped +.06 long fcx   cluck cluck
[10:01] {magoo} yea..i thought working and BAM
[10:01] {magoo} dead out
[10:01] {Threei}  you see numbers mags?
[10:02] {Threei}  5.1 V 10.0E
[10:02] {nemo} probably goes to .55 area now
[10:02] {nemo} Can you say, "QE II"
[10:03] {Threei}  if that what happens, then good bye USD, hello huge market rally, and in a long term - good bye savings, hello inflation
[10:03] {nemo} if we have to do it, other countries will
[10:04] {Threei}  keeping an eye on LVS
[10:05] {nemo} fcx bouncing off .60 resistance, doesn't hod next stop is around 62.00
[10:06] {Threei}  FCX is horribly volatile for such market conditions
[10:06] {nemo} just putting it out there, mags play
[10:06] {dino} lfc stopped -.26
[10:07] {nemo} wow $ whacked big time, equities should reverse soon
[10:07] {strider} can you put that in writing?
[10:07] {nemo} I did
[10:08] {strider} impertinant yankee.
[10:08] {Threei}  not fully ready yet, and USD weakness keeps me from short plays
[10:08] {magoo} i wasnteec LVS short loss .30..missed
[10:09] {strider} what sym doyou follow for the dollar , vad?
[10:09] {nemo} uup
[10:09] {strider} thx
[10:09] {Threei}  LVS and FAS,
[10:09] {Threei}  bounce candidates
[10:09] {Threei}  LVS .10 break
[10:10] {Threei}  FAS .unclear yet
[10:10] {nemo} fas might bounce .87
[10:10] {Threei} Long Setup:  LVS  .10 break
[10:10] {Threei}  if holding 24
[10:11] {Threei}  invalidated
[10:11] {nemo} spy bounce .31 or closes the gap to 108.10
[10:11] {Threei}  AONE Hearing vague takeover chatter circulating (9.28, +0.18, 1.98%)
[10:12] {strider} that's nice.
[10:13] {Threei} Long Setup:  LVS  24 break
[10:13] {Threei}  awww
[10:13] {nemo} might need a DB after this drop
[10:13] {Threei}  too fast
[10:13] {Threei}  fon't chase
[10:13] {dino} veco sm l .90
[10:14] {Threei}  either second chance entry or let it go
[10:15] {Threei}  FAS coming baack for double bottom
[10:16] {Threei}  same setup LVS
[10:16] {Threei}  24 break if holding .90
[10:17] {Threei}  FAS, .80 break
[10:17] {Threei}  invalidated
[10:19] {nemo} it's in a creep down now
[10:19] {nemo} so...aggressive...or do we wait for IH&S?
[10:20] {Threei} Long Setup:  BP  .75 break
[10:21] {dino} veco stopped
[10:21] {Threei}  if stays above .65
[10:22] {nemo} volume on fas last minute
[10:22] {Threei}  market isn't finding firm footing yet, but snapback feels very close
[10:22] {nemo} spy too
[10:22] {dino} lfc sm l .25
[10:23] {nemo} fas looking soli
[10:23] {dino} veco last try .50 trig
[10:23] {nemo} solid
[10:23] {Threei}  LVS 1:1
[10:23] {Threei}  BP 1:1
[10:23] {shorty} out LVS
[10:24] {jfjf64} nice
[10:24] {jfjf64} nice
[10:24] {shorty} and FAS
[10:24] {jfjf64} shorty thought  went  bk  to BED
[10:24] {nemo} look for pullback under .80 fas?
[10:24] {Threei}  greed overtook jf
[10:24] {strider} long lfc .22
[10:24] {shorty} Never wake up a sleep walker
[10:25] {Threei}  and as Gordon Gekko taught us, greed is good
[10:25] {jfjf64} luv GRRED
[10:25] {dino} lft sm l .50
[10:25] {Threei}  I am not sure on FAS nemo
[10:25] {jfjf64} NO JOKE
[10:25] {jfjf64} lol
[10:25] {Threei}  something is off today about it
[10:25] {shorty} I am greedy
[10:26] {jfjf64} we all are
[10:26] {strider} out lfc +.12
[10:26] {jfjf64} bunch of nuts
[10:26] {Threei}  yeah, last time I offered jf a bottle of AntiGreedin he demanded more, more more of it
[10:26] {magoo} well its a financial vad FAS
[10:26] {nemo} pardon me, I prefer to be referred to as a legume
[10:26] {dino} gj strider
[10:27] {jfjf64} just  had  trade   x .05 break
[10:28] {jfjf64} was  battle  at  42
[10:28] {jfjf64} sorry  didnt  post
[10:28] {jfjf64} greed
[10:28] {jfjf64} lol
[10:28] {Threei}  nice one
[10:29] {Threei}  but we'll never forgive you
[10:29] {Threei}  you are going to live unforgiven
[10:29] {jfjf64} lol
[10:29] {Threei}  (not that it is going to bother you in the least I suppose)
[10:29] {jfjf64} not  at  all
[10:30] {Threei}  for patient types, LVS 1:2
[10:30] {jfjf64} dont know  what  ya talkin bout
[10:30] {jfjf64} x   want  higher
[10:30] {Threei}  didn't think so
[10:30] {Threei}  *EIA NATURAL GAS INVENTORIES: +78 BCF VS. +75 TO +80 BCF ESTIMATE RANGE (related UNG USO )
[10:30] {Threei}  wow UNG
[10:31] {jfjf64} wowwwwwwwwwwwwwwww
[10:31] {Threei}  that's a bit too much too fast
[10:31] {Threei}  invetories within the range
[10:31] {Threei}  shrug
[10:31] {jfjf64} thick
[10:32] {Threei}  let's see if we get double top
[10:32] {jfjf64} eatin it up
[10:32] {Threei}  one more bounce, holfing under .60
[10:32] {magoo} out .93 BP ty
[10:32] {Threei}  then triggering short
[10:32] {Threei}  gosh... anyone ever pegged magoo as patient type?
[10:33] {nemo} must be the new meds
[10:33] {Threei}  ah
[10:33] {magoo} dino been making the coffee...hmmmmmmm
[10:33] {magoo} meds}?
[10:33] {Threei} Short Setup: UNG  .50 break
[10:33] {Threei}  if stays under .60
[10:34] {Threei}  if you like the idea, take aggressive entry
[10:34] {Threei}  stop just above .60
[10:35] {Threei}  invalidated
[10:35] {magoo} large buid lev 2 vad
[10:35] {Threei}  ?
[10:35] {magoo} ung
[10:36] {Threei}  as if offers are smaller, lol
[10:36] {Threei}  I assume you meant bid
[10:36] {strider} V short at .80?
[10:36] {Threei}  scares me that I understand your typing....
[10:36] {magoo} correct
[10:37] {Threei}  hmmm
[10:37] {Threei}  not sure about that strider... market stabilized
[10:37] {Threei}  and mags, it spells "korrekt"
[10:38] {nemo} eqzaktly
[10:38] {Threei}  there
[10:38] {magoo} say it for me so i hear it ok?
[10:39] {nemo} fas 22 break ?
[10:39] {Threei}  most likely, yes
[10:39] {Threei}  ideally, one more little pullback, holding above .90
[10:39] {Threei}  then break
[10:40] {Threei}  yup, like this
[10:40] {Threei}  no, not like this
[10:40] {nemo} yeah spy week
[10:40] {nemo} weak
[10:40] {Threei}  invalidated
[10:41] {nemo} o.k, scalping mode:  ON
[10:41] {magoo} on discovery channel nemo?lol
[10:41] {nemo} ;)
[10:41] {Threei}  or, to be more precise, should be recalibrated
[10:41] {nemo} like sniper week myself
[10:41] {Threei}  say, .90 break
[10:41] {Threei}  keep an eye on SPY for clue
[10:41] {Threei}  invalidated again
[10:42] {nemo} comments mags?
[10:43] {nemo} fas forming wedge though
[10:43] {strider} bearish, no?
[10:43] {lilyd} vad,nem?
[10:43] {Threei}  bounce does feel close, I just have hard time finding exact setup on it
[10:43] {nemo} question lilyd?
[10:43] {Threei}  and I don't want to short because of USD weakness
[10:43] {nemo} find me questionable?
[10:44] {Threei}  NEM, not here...
[10:44] {Threei}  looking back .60 break was valid setup with stop under .50
[10:44] {magoo} l fcx cross .50
[10:45] {jfjf64} vad    x   buyer  at  42  wont  let it  down
[10:45] {jfjf64} think  nother  bounce
[10:45] {jfjf64} if gets  down there again
[10:45] {magoo} half lot..stop .23
[10:45] {lilyd} thx
[10:45] {strider} VVUS still halted.
[10:46] {Threei}  jf... IMO, X turns into short on 42 breakfown
[10:46] {nemo} no volume on fcx
[10:46] {Threei}  breakdown too
[10:46] {jfjf64} ty
[10:46] {nemo} pivot support at .97
[10:47] {jfjf64} thinkin  that he  steps out of way
[10:47] {nemo} just as I nod off, something will happen
[10:48] {Threei}  market loses steam too
[10:48] {Threei} Short Setup: X  42 break
[10:48] {jfjf64} yeah baby
[10:49] {nemo} stop?
[10:49] {Threei}  top of this bounce,
[10:49] {shorty} BP cap successful?
[10:49] {Threei}  with .15 being invalidation
[10:50] {Threei}  no news on wires yet
[10:54] {jfjf64} battle
[10:54] {nemo} quite the battle  X
[10:54] {Threei}  not a scalp if works
[10:54] {nemo} fas creeping again
[10:55] {nemo} question: does it become a long if it invalidates
[10:56] {jfjf64} 42  buyer
[10:56] {Threei}  BP bout of happiness
[10:56] {nemo} rimm too
[10:58] {dino} cvlt sm l .29
[11:00] {jfjf64} 42.01
[11:00] {nemo} what?
[11:00] {jfjf64} playin games
[11:01] {Threei}  die already X
[11:03] {nemo} in .98
[11:03] {nemo} oh oh
06[11:04] * Threei hits X over the head with 2x4
[11:05] {Threei}  EUR/USD Breaks through 1.2900 level; first time since May 10 (related TLT SHY IEF )
[11:05] {nemo} 1/2 out 87
[11:05] {nemo} .87
[11:06] {nemo} ty
[11:06] {Threei}  welkome komrade
[11:06] {Threei}  1:1, covering half
[11:06] {Threei}  stop to 42.05
[11:06] {dino} veco stopped
[11:07] {Threei}  BP's ready to restart integrity testing
[11:08] {Threei}  while we are on it, may I suggest a few more targets for "integrity testing..."
[11:09] {nemo} out
[11:10] {Threei}  holding by fingertips
[11:10] {Threei}  scalpers win
[11:10] {nemo} nahh, I got .05 prints
[11:10] {Threei}  balance is stopped
[11:10] {Threei}  oh well... summertime
[11:10] {nemo} I should have listened to my earlier advice
[11:10] {Threei}  and the livin' is easy
[11:11] {nemo} no...I'm out of alcohol
[11:12] {Threei}  BP testing is not a quick one time event:
[11:12] {Threei}  British Petroleum plc USCG: Leaking line has been fixed, BP is ready to start testing pressure in the well
[11:12] {Threei}  - Test will run for 48 hours, in six-hour increments.
[11:12] {Threei}  - After the well test, there will be another round of seismic analysis.
[11:23] {shorty} l TSLA .93
[11:24] {shorty} out .20
[11:25] {jfjf64} nice shorty
[11:25] {Threei}  nice one
[11:25] {shorty} ty
[11:25] {hawk} good one
[11:29] {strider} BP long?
[11:30] {jfjf64} lk  lvs  bounce  here
[11:30] {jfjf64} close  to 24
[11:30] {Threei}  BP, I don't like it
[11:31] {Threei}  LVS, no clean setup
[11:31] {Threei}  let's observe a bit more
[11:31] {jfjf64} y
[11:31] {jfjf64} yes
[11:32] {jfjf64} d/b
[11:32] {patience} .
[11:35] {strider} Tour de France....peloton running at 38 mph right now.  hauling serious ass.
[11:35] {nemo} the peloton...oy vay
[11:35] {strider} 39.4 mph.
[11:35] {nemo} tht could be a mess of arms and legs
[11:36] {strider} last mile
[11:37] {Threei}  well well well
[11:37] {Threei}  (US) Senate passes test vote on FinReg, final vote scheduled for 14:00ET
[11:37] {Threei}  - Final vote was 60-38
[11:37] {Threei}  - Senators Gregg and Dodd estimate vote at approximately 14:00ET; Gregg attempted to get the vote thrown out on grounds surrounding the budget act, Dodd moved to waive the motion, and was seconded.
[11:40] {nemo} in fas .99
[11:40] {jfjf64} long
[11:40] {nemo} yeah,
[11:40] {nemo} oops
[11:40] {jfjf64} short
[11:41] {nemo} stop .90
[11:41] {nemo} long
[11:41] {jfjf64} bounceeeeeeeeeeee
[11:43] {nemo} by the proverbial "hair"
[11:45] {nemo} oh well
[11:46] {dino} out lfc .75, +.50
[11:49] {shorty} nice
[12:02] {dptl} morning all
[12:03] {Threei}  dp :)
06[12:03] * Threei slaps dptl around a bit with a large alarm clock
[12:06] {Threei}  aimless drifting started in the market
[12:09] {strider} HIG
[12:12] {strider} KLIC
[12:14] {dino} onp
[12:15] {dino} sm l .20
[12:18] {dptl} guys i am gonna take a break for some time all the best for you all,and i hope i'll see you soon again  :)
[12:19] {Threei}  we will be here
[12:19] {hawk} good luck dp
[12:19] {strider} take care, dp.
[12:19] {magoo} best wishes dp
[12:19] {dino} good luck dp
[12:33] {nemo} I said scalping, crissakes, gotta' almost micro sccalp
[12:33] {nemo} Frickin' HFT's  ;)
[12:33] {strider} the best kind.
[12:42] {shorty} Threei ARNA
[12:44] {strider} BP drop
[12:44] {Threei}  it had overnight news
[12:44] {shorty} is that a head and shoulder pattern?  1 min
[12:45] {strider} 1 shoulder, 2 heads :)
[12:45] {shorty} lol...see that now
[12:46] {strider} very common in the Berkshire mtns.
[12:46] {Threei}  lol
[12:46] {strider} ask nemo.
[12:46] {shorty} more like a hunch back
[12:46] {nemo} what the hell is a hillbilly like you doing in the Berkshires
[12:46] {magoo} lvs bvounce here vad?
[12:46] {strider} ah...the Berkshires seemed dreamlike on account of that frostin'.....
[12:47] {nemo} ?
[12:47] {nemo} wrong kinda' mushrooms on your pizza, dude
[12:47] {strider} James Taylor.
[12:47] {strider} Sweet Baby James
[12:47] {nemo} ahhh...seen him many times
[12:47] {Threei}  I doubt it mags
[12:47] {nemo} that's about his nephew
[12:47] {strider} yep
[12:47] {Threei}  feels shapeless, like jellyfish
[12:48] {strider} eeeuuuuw
[12:49] {shorty} lo
[12:50] {shorty} l
[12:54] {dino} veco l .32
[13:02] {magoo} FAS nice move
[13:03] {Threei}  really not sure whether we get marjket recovery or it's just a drift up drift dowm
[13:08] {magoo} moving up now mkts
[13:09] {strider} long KLIC 7.18
[13:09] {strider} stop .12
[13:18] {strider} PRGO?
[13:18] {strider} thin
[13:20] {strider} CAT  moves
[13:22] {dino} stoppped onp .46, +.26
[13:22] {strider} wtg dino
[13:22] {dino} ty
[13:24] {strider} long CAT .04 stop .95
[13:24] {dino} lft to .91
[13:25] {dino} to .98
[13:26] {strider} out CAT .14 +.10
[13:26] {dino} gj
[13:26] {dino} to .01
[13:26] {strider} :)
[13:27] {dino} veco to .55
[13:27] {dino} out veco slip, .52, +.20
[13:27] {dino} out lft .97 slip, +.47
[13:27] {Threei}  nice
[13:28] {strider} my hero.
[13:28] {dino} lucky
[13:28] {strider} better to be lucky than smart.
[13:28] {strider} I wanta be lucky when I grow up.
[13:28] {dino} indeed
[13:29] {strider} stop KLIC -.06
[13:29] {dino} that thing has been bloodied
[13:29] {strider} I know.
[13:31] {strider} They've shut down VVUS all day, I guess.  Till the FDA panel vote.
[13:32] {Threei}  well, they halted it for that vote, why would they unhalt it until after the vote :)
[13:32] {dino} i hate halts
[13:33] {Threei}  yeah, what's with this "no one trades until information comes out"
[13:33] {strider} Perhaps you should write them a letter and tell them how you pheel.
[13:33] {Threei}  whole point of trading is "betting" on future information
[13:33] {strider} Leaving the holders with no control over their assets.
[13:34] {dino} halts have never worked to my benefit
[13:35] {dino} brb
[13:38] {magoo} good point strider, what if planned on getting out and didnt think of a halt
[13:39] {strider} a gu'mint SCREW job.
[13:39] {strider} But it's all for your benefit of course.
[13:48] {Threei}  DRYS Hearing Deutsche Bank makes positive comments (timing uncertain) (4.04, -0.02, -0.49%)
[13:50] {strider} MS vad?
[13:51] {Threei}  mirrors FAS
[13:51] {strider} FAS vad?
[13:51] {Threei}  we haave this finreg bill vote possibly at 2
[13:51] {Threei}  lol
[13:51] {strider} :)
[13:51] {strider} that'll take all day.
[13:51] {Threei}  and my assumption is, passage will spark another rally
[13:52] {strider} OK.  I'm gonna buy one of everything.
[13:52] {dino} me too
[13:53] {dino} veco ; .28
[13:53] {dino} l
[13:53] {Threei}  (IA) Two bombs have reportedly exploded in a southeastern region of Iran - state news (related GLD USO )
[13:56] {Threei}  okay, for this I need explanation
[13:56] {Threei}  (US) President Obama: Expects cost of electric car batteries to fall by 70% over the next several years (related AONE XIDE JCI ALTI HEV )
[13:56] {Threei}  how??
[13:56] {Threei}  it'a not computer, there is no economy os scale
[13:56] {strider} long VECO .29
[13:56] {Threei}  of
[13:57] {shorty} Buying in bulk, you know like Costco.
[13:57] {Threei}  nope, not with batteries
[13:57] {Threei}  that was always one of the major sticking points
[13:58] {dino} you don't get it 3i, w/obamination everything is theory. thats all that matters, just like his theory he saved 3m jobs. can't prove anything either way
[13:58] {Threei}  they include elements that are not priced differently if you need a lot of them
[13:59] {strider} stop VECO -.05
[14:00] {shorty} I still like my idea better.  Mini nuclear reactor in the vehicle, endless amount of energy.
[14:00] {Threei}  lovely
[14:00] {Threei}  my own pocket mini-chernobyl
[14:00] {strider} then you can just dump the waste in your trash can each week.
[14:01] {Threei}  mine?? what, I don't have neighbors?
[14:01] {dino} or throw it out your car window
[14:01] {strider} Or use it for Christmas lighting.
[14:01] {dino} good idea
[14:02] {dino} ever=glo
[14:02] {shorty} You get home plug your car into your house, then power your house too.
[14:02] {Threei}  why would you need any artificial lighting after a few months of driving in that car?
[14:02] {dino} gww spike
[14:02] {Threei}  you'll be your own source of lighting
[14:03] {dino} plus eases health care burden, all die young
[14:03] {strider} .10 spread. gww
[14:03] {shorty} l BP
[14:03] {Threei}  see... all problems are solved
[14:03] {shorty} ,30
[14:03] {strider} veco damn your hide.
[14:04] {strider} din knows best about stops.
[14:04] {Threei}  green clean planet, no people
[14:04] {strider} dinio
[14:04] {dino} pulp type
[14:04] {dino} still in
[14:04] {shorty} Part of my population control plan too Threei
[14:04] {Threei}  oh, just give a a machine gun
[14:04] {Threei}  just as effective but at least I'll have fun in the process
[14:04] {shorty} lol...that would work too
[14:04] {dino} out cvlt .50, +.21
[14:05] {Threei}  GWW Hearing Raymond James upgrades rating to Outperform (timing uncertain) (107.30, +3.55, 3.42%)
[14:06] {strider} self-fulfilling prophecy.
[14:07] {dino} 9:55 am
[14:11] {dino} veco to flat
[14:12] {dino} veco stopped, slip -.03
[14:16] {shorty} out bp
[14:16] {shorty} -.10
[14:18] {strider} BIDU long .05?
[14:19] {Threei}  I'd take 75 break
[14:19] {Threei}  half lot
[14:19] {Threei}  with stop undr .90 or .85
[14:19] {Threei}  BP Begins testing well pressure, test to last six to 48 hours (37.27, +1.09, 3.01%)
[14:19] {strider} in .01
[14:20] {Threei}  1:1
[14:20] {Threei}  nice and easy
[14:20] {strider} out +.10
[14:20] {strider} yowsa.
[14:20] {strider} thx
[14:20] {Threei}  this is not even a trade,
[14:20] {Threei}  this is rather like
[14:20] {Threei}  walked by, saw money on the road, picked it up
[14:21] {strider} and, for once, it wasn't a turd.
[14:21] {nemo} toilet paper perhaps
[14:23] {strider} Vad, why did you think the break was at .00, though it had tried that and failed twice?
[14:23] {dino} hammer to ice theory
[14:23] {strider} gotcha.
[14:24] {Threei}  multiple tries establish resistance
[14:24] {strider} another setup, BIDU?
[14:24] {Threei}  final break is like dam breach
[14:25] {Threei}  not sure
[14:25] {strider} I see.
[14:25] {Threei}  think of it in terms of players psychology
[14:25] {strider} reluctant to go back to the trough again.
[14:25] {dino} move times to hit resis weaker it gets, same w/support
[14:25] {Threei}  what happens when resistance is established?
[14:25] {Threei}  more and more players start betting on it
[14:26] {strider} shorts?
[14:26] {Threei}  shorting or selling their longs
[14:26] {Threei}  2, 3, 4 tries,
[14:26] {Threei}  we humans tend to think that which happened many times beofre will happen again
[14:26] {Threei}  (doesn't go for aliens like nemo)
[14:27] {nemo} ?
[14:27] {Threei}  so more and more players consider it established patter and bet on it
[14:27] {Threei}  as any pattern, when gets overexploited, it wears itself out,
[14:28] {Threei}  now, imagine break of this resistance at some point and what it does it players
[14:28] {Threei}  shorters cover in panic, their beloved resistance gave up
[14:28] {strider} got a wonderful quote for you about this very thing....just a sec.
[14:28] {Threei}  longs that sold their position rush in to replensih
[14:28] {nemo} vote must be in
[14:28] {strider} The man who has fed the chicken every day throughout its life at last wrings its neck instead, showing that more refined views as to the uniformity of nature would have been useful to the chicken.
[14:28] {strider} Bertrand Russell,
[14:28] {strider} quoted in Wittgensteins Poker, p. 170
[14:29] {Threei}  lol, good one
[14:29] {Threei}  longs that were discouraged by the strng resistance are rushing in now,
[14:29] {Threei}  as break of it finally validates their desire
[14:30] {Threei}  finally, tyhere are some that miss thewir chane to buy or cover,
[14:30] {Threei}  and they wait for their chance to get in on pullback
[14:30] {Threei}  these are those same that make this former resistance a new support
[14:31] {Threei}  That's the theory of psychology of a breakout
[14:31] {dino} i prefer hammer to ice, chipping away
[14:31] {strider} :)
[14:31] {Threei}  that's explanation why break actually happens
[14:31] {dino} :D
[14:31] {Threei}  mine is explanation of what happens after
[14:31] {strider} if you're only tool is a hammer, dino....well, you know
[14:31] {strider} your
[14:32] {Threei}  ENER Subsidiary NJR Clean Energy Ventures s Announces Rooftop Solar Project with Adler Development and United Solar (4.70, 0.00, 0.00%)
[14:32] {dino} lol
[14:32] {dino} you're either the hammer or the nail
[14:32] {strider} that's right.
[14:33] {nemo} of my favorite analogies
[14:33] {strider} and sometimes it rains.
[14:33] {Threei}  sometimes you are a bug, sommetimes you are a windshield
[14:33] {nemo} I love when you're negotiating with your significant other.  What's "fair" depends on who is the hammer and who is the nail
[14:33] {Threei}  and yes... sometimes it rains
[14:34] {nemo} Last thing that goes through a bee's mind when it hits the windshield? :)
[14:34] {Threei}  I don't negotiate anything with my significant other
[14:34] {nemo} she dictates
[14:34] {Threei}  I give up immediately admitting my insignificance
[14:35] {strider} what, nemo?
[14:35] {nemo} his asshole
[14:35] {nemo} sorry
[14:35] {strider} I know.
[14:35] {nemo} I figured
[14:35] {Threei}  ladies will have to forgive him... he is an alien
[14:35] {nemo} Kinda' expected it
[14:35] {strider} he is from France.
[14:36] {Threei}  mars I think... maybe Saturn
[14:36] {strider} and they're discontinuing Saturn.
[14:36] {nemo} beetlegeuse system
[14:36] {Threei}  hey, look who has an opinion:
[14:36] {Threei}  (US) Former Fed Chair Greenspan: Congress should allow Bush tax cuts to expire (related TLT SHY IEF EUR/USD USD/JPY )
[14:37] {Threei}  Congress may Soon Lift Travel Ban to Cuba
[14:37] {Threei}  {Cuba} uh oh
[14:39] {dino} whr sm l .60
[14:44] {strider} does WHR have a full stop, dino.  around 30 cents?
[14:46] {Threei}  (US) Senate receives more than 52 yes votes for passage of FINREG
[14:46] {dino} y
[14:50] {Threei}  FAS is creeping up
[14:50] {dino} giddy up
[14:51] {Threei}  GS, MS, JPM
[14:51] {Threei}  WFC
[14:51] {dino} veco l .40
[14:52] {Threei}  (US) As voting continues, Senate tops 50 yes votes needed for passage of FinReg bill in final vote
[14:52] {Threei}  - With final vote, bill goes to President's desk to sign into law
[14:52] {nemo} fas should get to 75-80
[14:53] {strider} WHR seriously jerky
[14:54] {nemo} perfect for you
[14:54] {dino} strange, usually outruns mkt
[14:54] {strider} jerky is good for you.
[14:54] {dino} been called worse
[14:55] {Threei}  question: do we get you-know-who on TV today cogratulating with mission accomplished, or tomorrow?
[14:55] {nemo} this morning no less
[14:55] {nemo} oh yea, no Les
[14:55] {dino} noo more
[14:55] {magoo} today
[14:55] {nemo} we're not that lucky
[14:55] {shorty} lol
[14:55] {Threei}  lol
[14:56] {Threei}  when Les gets back, he will slap each and every of you silly,
[14:56] {Threei}  and I will stand aside and applaud
[14:56] {nemo} spy has major resistance between .40-.50
[14:56] {dino} 10 items or Les
[14:56] {strider} I'll take the 10 items,, thank you.
[14:57] {Threei}  - Final Vote: 60-39
[14:58] {magoo} why u think this is a mkt pos?
[14:58] {dino} out whr -.32
[14:59] {shorty} have a good day all....cya tomorrow
[15:00] {Threei}  take care shorty
[15:01] {Threei}  mags, mostly because it's a toothless bill that regulates nothing
[15:01] {Threei}  but its passage was all but certain for a while
[15:01] {dino} cya shorty
[15:01] {Threei}  so hard to tell whether it got priced to a degree
[15:05] {strider} bull flag, GS
[15:05] {dino} moooo
[15:05] {strider} friend of yours, dino?
[15:05] {dino} nah
[15:05] {strider} bull flags really aren't very useful, are they?
[15:07] {Threei}  ?
[15:07] {Threei}  as any other formation,
[15:07] {Threei}  it either works or it doesn't
[15:07] {dino} to matadors they are
[15:07] {strider} Just hard to see a setup with them.
[15:08] {Threei}  but this one didn't even trigger on a long side
[15:08] {strider} right.
[15:08] {Threei}  breaking down and triggering short instead
[15:08] {nemo} oops
[15:11] {Threei}  looks like it's coming
[15:15] {Threei}  Fed Chairman Bernanke: FinReg will help prevent a replay of the financial crisis
[15:15] {Threei}  yeah right
[15:16] {strider} WFC short  .40 break?
[15:17] {Threei}  nah
[15:17] {Threei}  too narrow, a lot of struggle for miserable gain
[15:18] {strider} short .46 aggressive.
[15:19] {strider} .52 stop
[15:19] {Threei} Long Setup:  JPM  .10 breaak
[15:20] {Threei}  if stays above 40
[15:20] {Threei}  BP Confirms that BP was involved in lobbying the UK government to secure release of the Lockerbie bomber (37.30, +1.12, 3.10%)
[15:21] {nemo} oh boy, that'll go over like the proverbial lead baloon
[15:22] {nemo} in fas .10
[15:22] {Threei}  this irritates me more than oil spill
[15:23] {Threei}  four US senators were calling for investigation into whether company publicly lobbied UK govt to release Lockerbie bomber to help secure a drilling contract in Libya.
[15:24] {strider} vad, do you always sell at least 1/2 at 1:1?
[15:24] {Threei}  in most cases, not always
[15:24] {strider} so generaally you go ahead and put in exit order as soon as you're in?
[15:25] {nemo} forgot...out fas .18
[15:25] {Threei}  for instance, if I manage to get long entry after sharp long decline of, let's say $1 within 5 cents from support,
[15:25] {Threei}  and stock is volatile,
[15:25] {Threei}  I am not likely to sell after 5 cents bounce
[15:25] {strider} k
[15:25] {Threei}  likely to hunt for more even for the first partial
[15:25] {nemo} remember that Rimm call back in December?
[15:26] {Threei}  huh?
[15:26] {nemo} you took a buck out of it
[15:26] {Threei}  december??
[15:26] {nemo} we were arguing over where it would bounce
[15:26] {nemo} you were in .05 from the bottom
[15:26] {Threei}  the only thing I remember about december is that we did have it
[15:26] {nemo} pheww
[15:26] {nemo} o.k. where getting Gaelic on the info
[15:27] {Threei}  and even that mostly because my birthday is in it
[15:27] {Threei}  january, I am not so sure we had
[15:27] {strider} 1/2 out WFC +.06
[15:28] {magoo} GS
[15:28] {Threei}  hah
[15:28] {strider} stop bal -.02
[15:28] {magoo} AAPL sheesh
[15:29] {Threei}  market assumes that announcement is settlement witrh GS I guess
[15:29] {Threei}  - Note: Current date of formal response from GS was due 7/19
[15:30] {Threei}  anyone went for JPM, start partialing
[15:30] {strider} .59-.89 out
[15:30] {dino} onp l .30
[15:32] {magoo} out .34 ty boss jpm
[15:32] {Threei}  yup:
[15:32] {Threei}  Note: GS shares are moving higher after the comment from the SEC on speculation it could be a settle agreement.
[15:32] {Threei}  welcome mags
[15:36] {strider} coupla strings holding GS up.
[15:36] {nemo} I'm off...
[15:36] {Threei}  take care nemo
[15:36] {strider} see ya, nemo.
[15:38] {magoo} news BP well caap good
[15:38] {Threei}  anyone is still in, last part should be dumped here
[15:38] {Threei}  BP Ticking higher, reportedly shows no oil flow into the Gulf of Mexico following initiation of well integrity testing
[15:39] {Threei}  Test was started at about 10 minutes ago at 15:35ET.
[15:39] {strider} long .97 stop .60
[15:39] {strider} out .30
[15:40] {Threei}  - Comments that 'very encouraged' with well shut in
[15:46] {dino} got booted
[15:47] {magoo} wanna be skerred, was long rig .99 and system crashed but had sell out there 53.41 and it hit
[15:48] {Threei}  nice... luck for a change was on a small trader's side
[15:48] {magoo} and BOY am i an ASS ragging rally call
[15:48] {magoo} i apologize
[15:48] {Threei}  I accept apologies only in a form of hard liquor
[15:49] {Threei}  Soviet habits, you know... liquid currency ruled
06[15:49] * strider slaps Threei around a bit with a large bottle of hard liquor
[15:49] {Threei}  let the party begin
[15:51] {Threei}  ooooh bioy
[15:51] {Threei}  VVUS FDA advisor panel on votes not to approve Qnexa obesity drug (12.11, 0.00, 0.00%) (related AMLN OREX ARNA )
[15:51] {Threei}  poor hopeful holders
[15:52] {magoo} back to my high too :)
06[15:52] * Threei slaps magoo around a bit with a large roll of cash
[15:52] {magoo} whalin on the mojo
[15:53] {magoo} just exited RIG .68
[15:53] {magoo} pretty close
[15:54] {dino} out ccmp all day, .53, +.38
[15:55] {dino} how does sec figure all day halt is fair, vvus holders took it bad there
[15:56] {Threei}  no kidding
[15:56] {Threei}  why were they denied chance to make up their mind and reposition
[15:56] {dino} they should not halt anything
[15:56] {strider} they should halt halting.
[15:57] {dino} ex: other night intc halted at close, but not yum, whats the diff., both reported
[15:57] {Threei}  that is usually decision made by company
[15:57] {dino} idiotic
[15:57] {Threei}  AAPL used to routinelty require halt beforre announcing earnings
[15:57] {Threei}  not sure why company has such right either
[15:58] {dino} its b.s.
[15:58] {strider} see y'all tomorrow.  gotta run.
[15:58] {dino} cya
[15:59] {Threei}  thank you all, nice day obverall
[15:59] {Threei}  have a good evening, see you tomorrow
[15:59] {magoo} take care vad
[16:00] {dino} out onp flat
[16:00] {dino} i'm off tomorrow, sons' all star tourny weekend in phoenixville
[16:00] {Threei}  cool, good luck to him
[16:01] {dino} thx
[16:01] {Threei}  (US) Treasury's Geithner: Administration will begin to write new regulations for the financial sector, hopes to move quickly on initiative (related XLF )
[16:01] {magoo} goog coming vad
[16:01] {Threei}  GOOG Reports Q2 $6.45 v $6.51e, R$5.09B v $5Be
[16:02] {dino} adm spike
[16:07] {Threei}  GS Reaches settlement with SEC with financial component, size unclear - CNBC reporter citing sources (145.22, +6.16, 4.43%)