Wednesday, December 1, 2010

Dec 01 2010

Much better day with quite a few good plays. Nice Catch of the Day too.

Our readers will have no troubles recognizing this play, so in order to provide a raw material for learning purposes I will put minimum annotations on the chart. Hint: see price part of the chart for the one of triangle formations, and volume part to get a clue for the likely direction.

Session Time: Wed Dec 01 00:00:00 2010
[08:02] {nemo} tell dino, if he shows, to go back to bed
[08:35] {Threei}  wow
[08:35] {nemo} yeah, no kidding...maybe I should just go hunting
[08:36] {RonS} ?
[08:36] {nemo} the gap up Ron
[08:37] {RonS} ya, Chinese pmi....hit an almost perfect no., not too hot, not too cold
[08:40] {RonS} took GS and BAC overnight...closed this pre +1.52 & +.16
[08:41] {RonS} bet on bank rebound, 12/1 traditional strong day
[08:41] {RonS} sold because I read that Fed will start releasing documents tomorrow on the bailout period
[08:42] {RonS} gm btw
[08:43] {Threei}  can you imagine all the hopefuls for the bio score holding those shorts overnight?
[08:43] {Threei}  morning
[08:44] {Threei}  I'd say gap down today was in "too obvious" category
[08:45] {Threei}  thus didn't pan out
[08:45] {Threei}  but whether we have gap and trap, gap and stall or breakaway gap - I wouldn't even venture to guess yet
[08:46] {RonS} one is for and yap...
[08:46] {Threei}  lol
[08:48] {Threei}  Euro vs US Dollar Euro extends session gains aided by tightening Peripherals
[08:48] {Threei}  - EUR/USD pair testing back above its 200-day mvg avg of 1.3120
[08:48] {Threei}  - Market speculation that the ECB might announce an extension to its bond buying program at its press conference on Dec 2nd (tomorrow)
[08:51] {ese} morning
[08:51] {Threei}  ese :)
[08:52] {ese} vad
[08:52] {ese} ron nice play with gs and bac
[08:58] {nemo} continuous gentle slope up on the spy
[09:00] {ese} talkin about the 1min chrt nemo
[09:01] {dino} gm all
[09:01] {RonS} who dat?
[09:02] {ese} dino
[09:02] {dino} :D
[09:03] {RonS} hey ese, ovti could be today's rimm...5.7 mil sh short...reading 10.7% of float
[09:05] {ese} was just looking at that
[09:05] {ese} braking out to new highs
[09:05] {nemo} go back to bed dino
[09:06] {ese} breaking rather
[09:06] {Threei}  dino!
[09:06] {Threei}  missed days with gap down, and came back on the gap up
[09:06] {dino} missed the wrong days it seems
[09:08] {Threei}  well, yesterday should have been your day for sure - I performed like drunken sailor
[09:08] {ese} Price Target raised to $32 from $27 at Oppenheimer; Reiterates Outperform rating   Have Market Intel? Tip Line -} Click Here :
[09:08] {ese} or ovti
[09:08] {ese} for ovti
[09:09] {Threei}  ese, look dcc pls
[09:12] {dino} needham, ovti to 40
[09:14] {jfjf64} mornin my traders
[09:14] {Threei}  jf :)
[09:14] {harth} Good Morning:)
[09:14] {Threei}  harth :)
[09:17] {Threei}  US Deficit Commission releases preliminary proposals
[09:17] {Threei}  Six part plan:
[09:17] {Threei}  Achieve nearly $4 trillion in deficit reduction through 2020, more than any effort in the nations history.
[09:17] {Threei}  Reduce the deficit to 2.3% of GDP by 2015 (2.4% excluding Social Security reform), exceeding Presidents goal of primary balance (about 3% of GDP).2
[09:17] {Threei}  Sharply reduce tax rates, abolish the AMT, and cut backdoor spending in the tax code.
[09:17] {Threei}  Cap revenue at 21% of GDP and get spending below 22% and eventually to 21%.
[09:17] {Threei}  Ensure lasting Social Security solvency, prevent the projected 22% cuts to come in 2037, reduce elderly poverty, and distribute the burden fairly.
[09:17] {Threei}  Stabilize debt by 2014 and reduce debt to 60% of GDP by 2023 and 40% by 2035.
[09:17] {larisa} gm :)
[09:17] {Threei}  larisa :)
[09:18] {larisa} vad :)
[09:21] {stewy} good morning everyone
[09:22] {Threei}  stewy :)
[09:24] {Threei}  Euro vs US Dollar USD off its worst levels ahead of the NYSE equity open
[09:24] {Threei}  - Dealers note that one factor helping the greenback was talk that the US deficit Commission's revised budget plan sought deeper spending cuts than original
[09:24] {Threei}  report:
[09:24] {Threei}  - Proposals would cut deficit by nearly $4T through 2020.
[09:24] {Threei}  - Proposals would cut deficit to 2.3% of GDP by 2015.
[09:26] {jfjf64} STE
[09:26] {jfjf64} Stew
[09:26] {jfjf64} hey
[09:27] {jfjf64} jf drinkin again
[09:27] {jfjf64} lol
[09:27] {stewy} gm, jf :)
[09:28] {Threei}  come on jf... so close to market opening?? you should have started 30 min ago!
[09:29] {jfjf64} 51.75 pre  lvs
[09:31] {Threei}  RIMM pullback
[09:31] {Threei}  watching
[09:32] {Threei}  wanr 62.80 or so
[09:33] {nemo} snk
[09:33] {nemo} sndk
[09:34] {Threei}  LVS sharp dive
[09:35] {Threei} Short Setup: RIMM  .20 break half lot
[09:35] {Threei}  stop above .30 for scalpers
[09:35] {Threei}  .40 day traders
[09:35] {Threei}  1:1 scalpers
[09:36] {Threei}  dayy traders trail to .30
[09:36] {Threei} Short Setup: LVS  .60 break
[09:37] {Threei}  1:1 day traders RIMM
[09:37] {dino} gj
[09:37] {Threei}  ty
[09:37] {Threei}  taking revenge for yesterday's lacklustre performance
[09:37] {Threei}  almost 1:2 RIMM
[09:37] {Threei}  LVS invalidated
[09:38] {Threei}  next leg down is for long hunt on RIOMM
[09:38] {Threei}  RIMM too
[09:38] {Threei}  LVS short valid again if stays under .70
[09:39] {Threei}  covered RIMM in full
[09:39] {Threei}  LVS over 1:1
[09:40] {nemo} rimm likely here
[09:40] {jfjf64} unh
[09:40] {jfjf64} .61
[09:40] {Threei} Long Setup:  RIMM  .80 break
[09:40] {Threei}  half lot
[09:40] {Threei}  if stays above .65
[09:42] {nemo} 200 ma .61
[09:43] {Threei}  invalidated but not off radar
[09:44] {dino} itri sm l .03
[09:44] {Threei}  argh
[09:44] {Threei}  X got away
[09:45] {Les} afternoon all. A balmy 24F and snow snow snow here
[09:45] {Threei}  hey Les
[09:45] {dino} rain and 50 here
[09:46] {harth} 7F here -9F with windchill
[09:47] {Threei}  yikes
[09:47] {Les} well turn your bloody fan of harth!
[09:47] {Threei}  what's that winter poem
[09:47] {Les} off
[09:47] {nemo} ****! IT'S COLD!  THE END
[09:47] {harth} yup
[09:47] {Les} blunt and always to the point hey Nemo?
[09:48] {nemo} Go sit by the.....harth  ;)
[09:48] {nemo} that's the poem Les
[09:48] {stewy} Les, balmy 24C here...
[09:48] {RonS} took rimm .60 to .82...thxs guys
[09:49] {ese} I GET THAT
[09:49] {dino} gj
[09:49] {Threei}  Ron :)
[09:50] {Threei} Short Setup: CAT  .50 break half lot
[09:51] {Threei}  invalidated
[09:53] {Threei}  back on, if stays under .65
[09:53] {dino} cat sm s .60 stop .89
[09:54] {Threei}  invalidated again
[09:54] {nemo} well let's see, market doesn't go down on bad news, do we expect it to go down oon good news
[09:55] {Threei}  but first two shorts worked
[09:55] {dino} cat stop to .79
[09:55] {nemo} that ws the breather, everything go north again now including indexes
[09:55] {dino} stopped -.19
[09:56] {nemo} next resistance for spy is .93
[09:56] {Threei}  (SP) Spain PM Zapatero cancels trip to summit in Argentina
[09:56] {Les} GLD
[09:56] {Threei}  no airfare money?
[09:57] {jfjf64} nvda 5 min
[09:57] {jfjf64} .21 break
[09:59] {RonS} ism
[09:59] {Threei}  two sets of numvbers are coming
[10:00] {Threei}  ISM and construction spending
[10:00] {Threei}  *(US) OCT CONSTRUCTION SPENDING M/M: +0.7% V -0.3%E
[10:00] {Threei}  - Prior MoM revised from 0.5% to %
[10:00] {Threei}  - No revisions (related XHB SPY EUR/USD )
[10:00] {nemo} in mos .40
[10:00] {Threei}  *(US) NOV ISM MANUFACTURING: 56.6 V 56.5E; PRICES PAID: 69.5 V 71.0E
[10:01] {nemo} ouch
[10:01] {dino} josb sm l .00
[10:04] {Threei}  (US) White House to ban drilling offshore Florida through 2017 - Fox Business News (related USO OIH )
[10:04] {Threei}  what?
[10:04] {nemo} tourist industry
[10:05] {dino} idiots!
[10:05] {Threei}  RIG droped like stone
[10:06] {nemo} in rimm .75
[10:06] {nemo} holly shit?!!!
[10:07] {nemo} rinse
[10:07] {Threei}  stop would have to be under .60
[10:07] {RonS} mos sm l .10
[10:07] {nemo} yeah, I got croaked
[10:07] {nemo} was playing the 200ma
[10:09] {nemo} ouch..nice way to start the month
[10:09] {Les} crap. slw rinsed me
[10:09] {Les} stopped out .51
[10:11] {Threei} Short Setup: X  .30 break
[10:11] {Threei}  if stays under .40
[10:11] {dino} mos sm l .90
[10:13] {jfjf64} reminds  me  yest  trade
[10:13] {Threei}  X should be good for 1:2 if works
[10:14] {jfjf64} 1.4 yest
[10:14] {jfjf64} lol
[10:14] {Threei}  .25 support is crucial
[10:14] {Threei}  if that's broken, should cascade
[10:14] {jfjf64} break  the  wall down
[10:15] {Threei}  so far so good, stays down while market bounces
[10:15] {jfjf64} y
[10:15] {Threei}  but needs market help soon
[10:16] {nemo} market starting another up cycle now
[10:16] {Threei}  here we go
[10:16] {jfjf64} ty  nemo
[10:16] {jfjf64} say  it  again
[10:16] {jfjf64} lol
[10:16] {Threei}  lol
[10:17] {Les} he might be right yet
[10:17] {jfjf64} d
[10:17] {jfjf64} o w n
[10:17] {nemo} i might be wrong
[10:17] {Les} then we get to smack ya
[10:17] {Threei}  TEM Strength attributed to chatter stem cell cancer therapy gets positive coverage determination from one US insurance company (1.13, +0.07, 6.34%) (related GERN )\
[10:17] {Threei}  STEM
[10:18] {nemo} nice wall .35
[10:18] {Les} lol thought you were drawing our attention
[10:18] {Threei}  maybe let's trail X to above .35
[10:18] {jfjf64} need  to go
[10:18] {Threei}  it was 2 cents from 1:1
[10:18] {Threei}  do we need this private details, jf
[10:19] {jfjf64} lol
[10:19] {RonS} dang, forgot about the pomo start...
[10:19] {jfjf64} comon  market  roll over
[10:20] {nemo} we're in hft land now
[10:20] {jfjf64} hft
[10:20] {jfjf64} ??
[10:20] {RonS} 80% of the time the market goes up during this 45 min
[10:20] {jfjf64} comon
[10:20] {jfjf64} really
[10:20] {jfjf64} rs
[10:21] {RonS} that has been the pattern...
[10:21] {nemo} go long above .25
[10:21] {nemo} .35
[10:21] {jfjf64} yes
[10:21] {Threei}  out
[10:21] {jfjf64} .40
[10:22] {nemo} gotta' do it guys
[10:22] {nemo} [10:15] {nemo} market starting another up cycle now
[10:22] {Threei}  I am not so sure
[10:22] {Les} this f'er rinsing left and right
[10:22] {nemo} me neither, got that wick which might have been stop buster
[10:23] {davd} i go with nemo,
[10:23] {nemo} it's lonely out here
[10:23] {RonS} lol ad has someone getting sawed in two...
[10:23] {Threei}  you do realize that you bet on a hybrid of a clown fish with mad submarine captain, davd?
[10:24] {nemo} wrong
[10:24] {davd} too close to 1200 - bulls will buy through it
[10:24] {nemo} everybody thinks I got it from there
[10:24] {Threei}  that's because too few read at all, let alone ancient mythiology :)
[10:24] {nemo} I got it from the Oddysey..
[10:25] {Threei}  cartoons on the other hand...
[10:25] {Threei}  is major source of knowledge
[10:26] {jfjf64} cat
[10:26] {jfjf64} tempting
[10:26] {Threei} Long Setup:  RIMM  .80 break
[10:26] {Threei}  stop under .75 for scalper
[10:26] {Threei}  .70 day traders
[10:27] {nemo} too late
[10:27] {Threei}  ?
[10:27] {nemo} got on reverse
[10:30] {Threei}  *(US) DOE CRUDE: +1.06M V -1ME; GASOLINE: +560K V 0ME (FLAT); DISTILLATE: -195K V -1ME; UTILIZATION: 82.6% V 85.8%E
[10:32] {Threei}  look at X
[10:32] {Threei}  now it's doing that dance
[10:32] {Threei}  rinsed our short
[10:32] {Threei}  but gkad we trailed stop, it would have been stopped with original one as well
[10:32] {nemo} all rinses today for me
[10:32] {RonS} took X s .32 to .10...thxs 3i
[10:32] {Threei}  Ron :)
[10:33] {nemo} although, got out of rimm .84
[10:34] {Threei}  RIMM 1:1
[10:34] {Threei}  half out
[10:34] {Threei}  stop to .80
[10:36] {Threei}  offering 1/4 more .99
[10:36] {Threei}  ok, .97 out 1/4
[10:37] {Threei}  no point fighting for each cent
[10:37] {Threei}  last part out
[10:37] {Threei}  .06
[10:38] {Threei}  +.25
[10:39] {Threei}  3:4
[10:39] {Threei}  did I break the gap up curse?
[10:41] {davd} cnbc just broke the no drill off fla story - now watch energy
[10:42] {davd} 10:40
[10:42] {Threei}  RIG
[10:42] {nemo} oil should go up
[10:42] {Threei}  double bottom play probably
[10:43] {Threei}  a bit too volatile for confident etnry
[10:43] {Threei}  .45 seems to be it
[10:43] {Threei}  discretionary
[10:43] {Threei}  can rinse easily
[10:44] {Threei}  who went for it, keep stop under .30 and aim for .70 - .90
[10:45] {Threei}  wow, sold RIMM too soon
[10:46] {ese} L stld.23
[10:48] {Threei}  1:1 RIG
[10:49] {Threei}  not counting discretionary call in daily ratio but bursting of pride nonetheless
[10:49] {nemo} rig at trend resistance
[10:58] {jfjf64} mibbet   grrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr
[10:59] {jfjf64} missed  rig
[10:59] {jfjf64} pissed
[10:59] {jfjf64} grrrrrrrrrrrrrrrrrrrrrrrrrrr
[10:59] {Threei}  you got disconnected after the call, no??
[11:00] {jfjf64} before
[11:00] {Threei}  ugh
[11:00] {jfjf64} every  5 min
[11:00] {Threei}  maybe time to go mirc
[11:00] {jfjf64} gettig  error
[11:01] {jfjf64} internet   exp  script  error
[11:01] {jfjf64} micro brew
[11:05] {Threei}  (EU) EU's Rehn: Portugal and Spain will soon announce measures on structural reforms
[11:05] {Threei}  - Agrees that the measures taken to correct the crisis have not yet restored confidence, but to do that will require time and consistent actions
[11:07] {_ctrade101} gm all
[11:08] {larisa} gm 101
[11:08] {Threei}  morning ctrade
[11:08] {Threei}  missed a few good ones
[11:09] {jfjf64} mee too
[11:10] {Threei}  sheesh RIMM
[11:10] {Threei}  can you believe we sold it 40 cents ago?
[11:10] {Threei}  I mean 50
[11:11] {Threei}  and even that was 1:3
[11:12] {dino} disconnected, out mos +.40, out josb +.43
[11:13] {Threei}  nice
[11:13] {dino} thx
[11:14] {Threei}  we did well while you were out too
[11:14] {dino} wtg
[11:14] {jfjf64} im  the  other  too
[11:14] {jfjf64} dino
[11:15] {dino} i sold early
[11:18] {Threei}  guys, I know it's a bit early and hardly anyone had enough time to read and evaluate most of the course,
[11:19] {Threei}  but those who feel they can give it a grade, consider a testimonial please
[11:19] {nemo} in sndk .21
[11:19] {Threei}  price goes up to its originally intended on Jan 1,
[11:20] {Threei}  so if we can give something to fence-sitters to decide, it will be good help
[11:20] {Threei}  if you care about anonymity, initials and state will bve enough
[11:23] {nemo} bvn dino
[11:24] {jfjf64} cat
[11:25] {jfjf64} lk break??
[11:25] {Threei}  I like chart
[11:25] {Threei}  I am not sure market will suport the break
[11:26] {Threei}  we are in a gap-stall phase
[11:26] {jfjf64} thank
[11:26] {jfjf64} you
[11:26] {Threei}  you
[11:26] {Threei}  are
[11:26] {Threei}  welcome
[11:26] {jfjf64} always
[11:26] {jfjf64} respect
[11:26] {Threei}  likewise
[11:26] {jfjf64} ya opinion
[11:28] {nemo} good boy sndk
[11:28] {davd} ie threei you don't think it will break above 1200 on s&p?
[11:28] {jfjf64} you long
[11:28] {jfjf64} nemo
[11:28] {davd} re support the break...?
[11:30] {nemo} yeah
[11:30] {nemo} yes
[11:30] {Threei}  1200?
[11:30] {nemo} ?
[11:30] {Threei}  aren't we above?
[11:30] {jfjf64} i want  what  ya  smokin  david
[11:31] {davd} sorry, break strongly above?
[11:31] {Threei}  what I mean in that comment is:
[11:31] {Threei}  CAT chart by itself looks nice for breakout,
[11:31] {Threei}  but this kind of breaks requires market directional help
[11:31] {Threei}  and at this point I can't rely on it,
[11:32] {Threei}  market gapped up, help the gap nicely, returned to the high
[11:32] {Threei}  which is more often a prelude to day-long stall
[11:32] {Threei}  than to a continuing march up
[11:33] {davd} ii
[11:33] {nemo} stop now .26
[11:33] {Threei}  nice play nemo
[11:34] {nemo} 1/2 out 39
[11:34] {nemo} .39
[11:34] {nemo} oy vay look at .40, if it breaks off to the races
[11:34] {nemo} disappeared
[11:35] {nemo} it's back
[11:35] {Threei}  looks fake
[11:35] {nemo} gone
[11:35] {nemo} yeah
[11:35] {Threei}  tells you someone is playhing games
[11:35] {nemo} back
[11:35] {Threei}  most likely got caught short, and tries to scare longs to cover at better price
[11:36] {nemo} yep
[11:37] {Threei}  praying time
[11:37] {nemo} yep
[11:38] {Threei}  averaged down and prays for breakeven
[11:38] {nemo} who you talkin to?
[11:38] {Threei}  commenting on that player
[11:39] {nemo} buy vaseline and get a donut pillow too
[11:39] {RonS} hehe
[11:39] {nemo} mos looks interesting
[11:39] {Threei}  .50 break is his "dump everything and go cry" barrier
[11:40] {jfjf64} cat
[11:41] {Threei}  getting steamrolled
[11:42] {nemo} pivot resistance .47 going into lunch....mmmmhhhhh....what would Vad do?
[11:42] {nemo} ..................
[11:42] {nemo} ...................
[11:42] {nemo}
[11:43] {Threei}  vodka?? during trading?? no way - right before, yes
[11:43] {nemo} oh yeah, 3 eyes two hands
[11:44] {Threei}  also, I tend to close my eyes while drinking as expression of pleasure... and need open eyes for trading
[11:44] {Threei}  well.. not always... but often
[11:44] {jfjf64} cat
[11:44] {Threei}  market spike pushed it over the fence, jf
[11:44] {jfjf64} 1/1
[11:45] {jfjf64} daily  can  go
[11:46] {ese} I think i picked the slow boat to china this time round
[11:47] {dino}  scmr bloody
[11:47] {Threei}  STLD ese?
[11:48] {RonS} scmr $6.50 cash distribution
[11:48] {jfjf64} 1/2
[11:48] {dino} the 9th tho, big miss
[11:50] {jfjf64} steady  buyin  cat
[11:50] {Threei}  SNDK shorter is killed dead
[11:51] {nemo} merry frickin xmas!
[11:51] {jfjf64} 1/3
[11:51] {RonS} fdx on fire
[11:51] {Threei}  market spikes like there is no tomorrow
[11:53] {dino} maybe there isn't, lol
[11:53] {Threei}  I start thinking that too
[11:53] {Threei}  where is my scothc
[11:53] {Threei}  single malt
[11:53] {Threei}  18 years
[11:53] {RonS} big sellers across all stock futes
[11:54] {jfjf64} ill hv  one  3i
[11:54] {Threei}  (GR) Greece YTD budget revenues +5% y/y v +6% expected - unconfirmed report
[11:55] {jfjf64} 1/4
[11:55] {jfjf64} cat
[11:56] {jfjf64} and  to  think  paper  trade  4 me
[11:56] {jfjf64}   more  scotch
[11:57] {jfjf64} here goes  aapl
[11:57] {nemo} 1/4 more .62
[11:57] {Threei}  we are in a bathtub homebrew vodka territory
[11:57] {nemo} hard stop back
[11:58] {nemo} that's .41 so far
[11:58] {Threei}  can you think of better illurtration to "overbought get overboghter" than today?
[12:00] {dino} uti sm l .50
[12:02] {RonS} lol, dino is like a vulture who levitates the dead...
[12:03] {RonS} OK, priest...
[12:03] {RonS} magician?
[12:04] {RonS} but levitation correct
[12:04] {RonS} y do i feel like jf?
[12:08] {Threei}  EU) EU's Rehn: Euro bond proposals unlikely to receive support; but are an 'interesting idea'
[12:08] {Threei}  (US) Treasury Sec Geithner: Tax negotiations over the 'Bush' tax cuts put "everything on the table"
[12:11] {dino} i prefer vampire
[12:11] {RonS} his head?
[12:14] {Threei}  dino is not afraid of buffy
[12:14] {dino} buffy's hot
[12:15] {nemo} sndk bounce area...errrrr....25
[12:22] {Threei}  (US) Fed's Bullard: Not opposed to ending dual policy mandate (jobs and price stability) - Fox Business News
[12:22] {Threei}  - US economy is "very close" to seeing a strong recover in 2011.
[12:22] {Threei}  - Opposes raising any taxes, calls on Obama Administration to extend tax cuts.
[12:22] {Threei}  ***Reminder: On 11/17 Bullard stated that removing the dual mandate and moving towards single mandate of price stability is an 'interesting idea'
[12:26] {dino} bvn sm l .50
[12:27] {RonS} Congress passed those mandates in 1946...when did a single mandate become interesting? can these people ever quit sounding like morons?
[12:27] {dino} no
[12:27] {Threei}  how can they?
[12:28] {Threei}  see, on a personal basis most of them are bright
[12:28] {Threei}  some are mornons to be sure, but that's rarher exception on such level
[12:28] {Threei}  but consider the position they are in
[12:28] {RonS} ergo "sounding like"
[12:29] {Threei}  deep inside, almost all of them know what a deep sh*t country is in, and most importantly - realize the role Fed played in it
[12:29] {Threei}  so what are they to do, call for their own abolishment?
[12:29] {dino} and they played in it
[12:30] {Threei}  right
[12:30] {Threei}  also, as much asd I would be all for Fed abolishment,
[12:30] {Threei}  two things give me pause
[12:31] {Threei}  1. making transition to a new system without causing total collapse is a task for giants - and we have none of those, all I see is ants
[12:31] {Threei}  2. who said central bank run by govt is going to be more resoonsible?
[12:32] {dino} it will not be
[12:32] {Threei}  so what's the point? :)
[12:32] {dino} i'm not for abolishing fed
[12:33] {Threei}  I am, ultimately
[12:33] {Threei}  with eventual purpose in mind: stop meddling with rates
[12:34] {Threei}  let market regulate them, and only take good care of rpeventing monopoly and collusions
[12:35] {Threei}  the idea of a few people deciding on such major factor with no regard to market but based on their, a few peopl,e, views is abhirrent to me
[12:35] {Threei}  abhorrent too
[12:36] {nemo} mos above 67
[12:43] {Threei}  NASA will hold a news conference at 2 p.m. EST on Thursday, Dec. 2, to discuss an astrobiology finding that will impact the search for evidence of extraterrestrial life.
[12:43] {Threei}  crap... they found my homebase
[12:43] {RonS} lol
[12:44] {nemo} stewy?
[12:44] {Threei}  What could the big announcement be? Chances are it has something to do with the recent discovery by the NASA-led international Cassini-Huygens mission of a tentative atmosphere containing both oxygen and carbon dioxide on the surface of Saturn's moon Rhea.
[12:44] {RonS} always wondered why you resemble E.T.
[12:44] {Threei}  sh*t
06[12:45] * Threei urgently relocates from Rhea to Hyperion
[12:46] {Threei}  I may have to take day off tomorrow guys, internet is not installed on Hyperion yet
[12:46] {RonS} and takes a toke off his favorite ganja...
[12:46] {stewy} pondering my testimonial, one that threei requested
[12:46] {stewy} if i post it,
[12:46] {RonS} just call the cable company
[12:47] {stewy} threei will be editing heavily
[12:47] {Threei}  it will contain that much swearing?
[12:47] {stewy} like that Cold poem?
[12:48] {Threei}  I thought Taoist Trader course was more wordy {G}
[12:48] {Threei}  225 pages not counting attachments, for pete sake
[12:50] {harth} I'm on page 56
[12:50] {RonS} bvn, one pulpy puppy...
[12:51] {RonS} bvn sm l .40 tgt .82
[12:53] {Threei}  how do you like it so far harth?
[12:54] {harth} Awesome! Lot of thought required!
[12:54] {Threei}  glad to hear
[12:54] {Threei}  it will progress to more and more practical things
[12:54] {Threei}  kind of going from forrest to the trees
[12:55] {Threei}  laying foundation first, building walls and roof second
[12:55] {Threei}  shaping up the interior then
[12:55] {Threei}  and putting on landscaping options for curbe appeal :)
[12:55] {harth} Cool, I really don't want to put it down but a guys gotta sleep sometime:)
[12:56] {ese} " to take or not to take"....this is the question i ask of thee or wise and learned one......stld up .12 3k worth........hmmmmmmmm
[12:56] {Threei}  sleep is overrated
[12:56] {Threei}  just a few decades more, and we will have all the time for sleep we ever want
[12:56] {RonS} omg
[12:57] {RonS} that's why i started trading
[12:57] {RonS} said to self:  why and who are you trying to impress?
[12:57] {RonS} 50 years absolutely noone will give a sh&t what you did
[12:58] {RonS} Do what you want...
[12:58] {Threei}  that's why I took to writing
[12:58] {Threei}  at least something will remain for those few who still can read
[12:59] {Threei}  but I completely on board with that view ron
[12:59] {harth} Same here
[12:59] {Threei}  do what you enjoy
[12:59] {Threei}  there are always people here and there, especially on internet forums, who take this qeird line of attack:
[13:00] {Threei}  weird
[13:00] {Threei}  why would you want to write trading books, courses, give seminars, teach, run the room, if you can jjst trade for yourself?
[13:00] {Threei}  obviously the retuirn from trading dwarfs all that
[13:01] {Threei}  I have very simple answer:
[13:01] {Threei}  because I enjoy doing all that
[13:01] {RonS} but who would be the audience for your jokes?
[13:01] {Threei}  that too
[13:01] {Threei}  who else I could make listen to those
[13:01] {Threei}  some like trading,
[13:01] {Threei}  some teaching in all its forms,
[13:01] {Threei}  some like writing or public speaking
[13:02] {Threei}  I happen to like all of that
[13:02] {Threei}  and yes, I am a freak who enjoys public speaking
[13:02] {Threei}  so I try to do all that
[13:02] {Threei}  why do I make photos?
[13:02] {dino} uti to flat
[13:02] {Threei}  they take a lot of time, and miniscule income I make of them does not even pay for gear
[13:02] {dino} bvn too
[13:04] {Threei}  but my photos won three contests, published on many websites and in some magazines, used by designers in various venbues
[13:04] {Threei}  and I am compiling a photo book
[13:04] {Threei}  there are galleries that expressed early interest in a few of them
[13:04] {Threei}  this is just so satisfying
[13:05] {Threei}  probably impossible to undertsnad for those who ask that question measuring every possible return in dollars only
[13:06] {dino} vad, you're getting deep
[13:06] {Threei}  done with that, sorry
[13:06] {Threei}  back to my normal shallow self
[13:06] {dino} just busting you buddy
[13:06] {Threei}  tree good, fire bad
[13:06] {Threei}  pass that vodka
[13:06] {Threei}  keep that soda
[13:08] {dino} bvn to .64
[13:08] {dino} uti too
[13:09] {RonS} this bvn is pretty funny acting
[13:09] {RonS} when they wnat it to run they just cancel the offers
[13:10] {dino} messed with
[13:10] {RonS} Chilean diablos
[13:10] {dino} lol
[13:10] {Threei}  lol
[13:10] {dino} to .70
[13:10] {Threei}  if anyone thought I was joking:
[13:11] {RonS} too specific and high brow for joke 3i
[13:12] {RonS} plus was not peceded with "in the old Soviet Union..."
[13:12] {Threei}  lol
[13:12] {RonS} :D
[13:12] {RonS} precede
[13:12] {Threei}  d
[13:13] {dino} out byn +.19
[13:13] {dino} bvn
[13:15] {dino} out uti +.15
[13:16] {Threei}  nice scalping footwork
[13:16] {dino} ty'
[13:19] {Threei}  interesting... GM and F USA sales are up healthy %, Toyota down 7%
[13:19] {dino} itri sm l .62
[13:21] {davd} dollar popped up
[13:21] {Threei}  here is why
[13:21] {Threei}  Reportedly US officials deny report that US is considering larger contribution to Europe's ESFS
[13:25] {RonS} out bvn .82 +.42 thanks dino
[13:25] {davd} i'm not surprised by the denial
[13:26] {dino} gj
[13:27] {davd} now breaking the denial on cnbc
[13:27] {nemo} so, they're saying they might contribute more?
[13:30] {davd} yes, then we should do a european ipo a year later and then give the ipo shares to the rich.
[13:30] {RonS} perfect...the American Way...
[13:31] {nemo} such a cynic
[13:32] {RonS} ya, was just a sceptic when younger...watching these ahole operate turned me into a cynic
[13:32] {RonS} s
[13:34] {davd} it was a treasury official that says not considering
[13:36] {Threei}  well Ron, then be thankful you've never seen good old USSR... you would have turned into cynic much earlier in life {G}
[13:36] {RonS} the womb...
[13:36] {Threei}  lol
[13:37] {RonS} is it 1999?  pull a 3 yr daily on RHT
[13:37] {davd} fyi the nemo / davd s&p pop theory from this morning was valid :/
[13:37] {Threei}  it's a former RHAT, right?
[13:38] {RonS} yep
[13:38] {nemo} did I say something?
[13:38] {RonS} and CAVM
[13:38] {Threei}  you did but we won't hold it against you
[13:38] {davd} nemo has a desk at goldman?
[13:40] {nemo} in rimm .96
[13:41] {Threei}  stop under .90?
[13:41] {nemo} yeah
[13:42] {nemo} knife catching
[13:42] {nemo} and rinse
[13:46] {Threei}  beige book in 15 min
[13:50] {dino} itri stopped
[14:00] {RonS} terrific...
[14:00] {Threei}  beige book
[14:01] {Threei}  growth continues but slow
[14:03] {RonS} interesting:
[14:03] {Threei}  EUR/USD German Fin Min Schaeuble: Germany is determined to defend the euro, existance of the single currency is not threatened (related EUR/GBP EUR/JPY BUNDS EWG )
[14:05] {Threei} Short Setup: X  .10 break
[14:05] {RonS} rimm is acting really heavy...
[14:05] {Threei}  if holding under .20
[14:06] {nemo} yeah just got smoked on rimm
[14:06] {nemo} here comes the rinse
[14:09] {Threei}  let's trail X to .16
[14:10] {Threei}  don't want any excessive risk during slow aftrenoon
[14:12] {Threei}  RIMM nears bounce zone
[14:12] {nemo} bounced
[14:22] {Threei}  out X
[14:30] {nemo} look at spy since 12
[14:41] {Threei}  as flstline as it gets ehg
[14:41] {Threei}  flatine
[14:47] {Threei}  (US) Fed's Fisher: Not surprised by recent USD appreciation, certainty on tax code and regulations will help growth
[14:47] {Threei}  - Highlights the US can learn a lesson from Europe that it cannot run high fiscal deficits
[14:47] {Threei}  why do you need anyone to take this lesson from? Isn;t it kind of things that any sensible human being understands by default?
[14:48] {stewy} see you all tomorrow.
[14:48] {Threei}  take care stewy
[14:48] {Threei}  (JP) Japan and the US are planning large-scale millitary exercises - Nikkei News
[14:48] {Threei}  - The drill will be one of the largest conducted by Japan and the U.S., involving roughly 34,100 personnel from Japan's Ground, Maritime and Air Defense Forces and some 10,400 troops from the U.S. Army, Navy, Air Force and Marine Corps, as well as the U.S. aircraft carrier George Washington. This would be six times larger than the four-day war game the U.S. and South Korea carried out this week in the Yellow Sea.
[14:50] {Threei}  I guess we still have some money exxcess right?
[15:04] {Threei}  US House approves stopgap extension of govt funding through Dec 18th
[15:11] {Threei}  any bets on close?
[15:11] {Threei}  a bit down is my inclination
[15:11] {Threei}  nothing dramatic but some selling
[15:12] {dino} zzzzzzzzzzzzzzzzzzzz
[15:12] {dino} close bet, dji  +247
[15:14] {davd} close bet s&p 1208
[15:14] {dino} s/p 1199
[15:15] {Les} oh yeh SPY falling off 200/100ma support combo
[15:15] {davd} no way dino, this not dropping below 1200
[15:15] {dino} we'll see
[15:15] {davd} i hope you are right, however
[15:15] {Les} jeez dino a little bearish are we?
[15:16] {dino} just a bit
[15:16] {dino} major gaps to fill
[15:20] {Les} still holding SLW from yesterday +1.35 will sleep on it
[15:20] {Les} don't jinx me dino
[15:20] {dino} scmr lod
[15:20] {Les} c u's tomorrow
[15:21] {dino} cya
[15:21] {Threei}  take care Les
[15:23] {larisa} RIMM any takers?
[15:23] {Threei}  very tempting
[15:23] {larisa} did not reverse yet
[15:24] {Threei}  no, but watching like a hawk
[15:24] {nemo} burned my ass today on rimm
[15:24] {larisa} :(
[15:30] {Threei}  in
[15:31] {Threei}  stop under .85
[15:31] {Threei}  took .93, stop is negligibly tight
[15:31] {jfjf64} what ya in 3i
[15:31] {Threei}  RIMM
[15:32] {jfjf64} in
[15:32] {Threei}  kind of "whatever" setup
[15:33] {Threei}  nope
[15:33] {Threei}  out
[15:33] {Threei}  needs more selling
[15:36] {jfjf64} .85
[15:37] {dino} back in ten
[15:37] {jfjf64} next  min
[15:40] {Threei}  .80 break with stop under .75
[15:40] {Threei}  come on RIMM, any spine in you?
[15:41] {larisa} very trendy today :)
[15:41] {jfjf64} comon baby
[15:41] {Threei}  seriously, all I want is 10-15 cents
[15:42] {jfjf64} comon baby
[15:42] {Threei}  1:1, lol
[15:42] {Threei}  half out .89
[15:42] {Threei}  give me one more spike
[15:42] {jfjf64} k
[15:42] {Threei}  there you go
[15:42] {Threei}  a bit more please
[15:43] {Threei}  good girl
[15:43] {jfjf64} comon ya spineless B
[15:43] {Threei}  lol
[15:43] {Threei}  gentliness does it jf
[15:43] {Threei}  treat it with care
[15:43] {jfjf64} sometimes they lk that
[15:44] {jfjf64} lol
[15:44] {Threei}  here is my 15 cents
[15:44] {Threei}  this is what you came back for jf, right?
[15:45] {Threei}  one last bit of cash extracted from the market
[15:45] {jfjf64} you got it
06[15:45] * Threei slaps jfjf64 around a bit with a large roll of cash
[15:46] {jfjf64} have 1/4 left
[15:46] {jfjf64} stop .90
[15:47] {jfjf64} .89
[15:47] {jfjf64} comon  ya  spineless dog with  fleas
[15:47] {jfjf64} eat up 62
[15:48] {jfjf64} wow  all this  market  gettin  hit
[15:49] {jfjf64} 62
[15:49] {jfjf64} 62
[15:49] {jfjf64} 62
[15:49] {Threei}  {RIMM} Threei, jf is so rude to me...
[15:49] {jfjf64} comon 3i
[15:49] {jfjf64} ya never  met  a stock that  likes  that
[15:50] {jfjf64} out
[15:51] {jfjf64} ty
[15:51] {jfjf64} 3i
[15:51] {Threei}  welcome
[15:51] {Threei}  I like how you managed it
[15:51] {Threei}  and overrall, not a bad play to finish the day with
[15:51] {jfjf64} very nice
[15:51] {jfjf64} good night all
[15:52] {Threei}  take care jf
[15:52] {RonS} good day to play w/ my new yamaha receiver...
[15:53] {jfjf64} enjoy rs
[15:53] {dino} cya ron
[15:53] {Threei}  have fun Ron
[15:56] {Threei}  guess who's on TV
[15:58] {Threei}  thank you all, have a good evening
[15:58] {Threei}  see you tomorrow
[15:58] {larisa} bye !
[15:58] {harth} See ya Thurs morn!