Tuesday, December 7, 2010

Dec 07 2010

Strange day with abnormal volatility, weird spikes both ways. Ended about flat, with no interesting charts to show. Oh well.

Session Time: Tue Dec 07 00:00:00 2010
[07:54] {davd} hi all gm
[08:10] {Threei}  (EU) German Fin Min Schaeuble: : Must recognize the trade imbalances in the Euro region and strive on achieving structural reforms
[08:10] {Threei}  good morning
[08:10] {nemo} debatable
[08:10] {Threei}  always is
[08:20] {nemo} Wow, Ron can sling it with the best of them
[08:28] {Threei}  (GR) IMF's Strauss-Kahn: Reiterates Greece will see economic growth by the end of 2011 and in 2012
[08:28] {Threei}  - Greece must combat tax evasion
[08:28] {Threei}  yeah, good luck with that
[08:29] {Threei}  it's ;like fighting use of vodka as a currency in Russia's backwater
[08:30] {Threei}  better yet:
[08:30] {Threei}  - Greece must combat tax evasion and achieve political consensus.
[08:33] {Threei}  XING Reports Q3 net income RMB 1.9M v RMB -130M y/y; R$54.8M v $76M y/y
[08:52] {nemo} call Dino, tell him to go back to bed
[08:59] {nemo} Ron...dcc
[09:02] {Threei}  this is funny headline:
[09:02] {Threei}  LULU Price Target raised to $40 from $32 at Jefferies; Reiterates Underperform rating (55.26, 0.00, 0.00%)
[09:12] {jfjf64} MORNIN
[09:13] {Threei}  jf :)
[09:15] {jfjf64} wow
[09:15] {jfjf64} look  C vol
[09:16] {Threei}  Citigroup Inc To triple presence in China, expanding branch network to 100 locations - China Daily
[09:16] {stewy} morning all
[09:17] {Threei}  stewy :)
[09:17] {Threei}  also, Cramer hyped it yesterday
[09:17] {Threei}  WikiLeaks founder Julian Assange to surrender to UK police after it secured European Arrest Warrant - BBC
[09:17] {Threei}  - Report also stating Swiss bank PostFinance froze Assanges account alleging he provided false information regarding place of residence.
[09:17] {Threei}  - NOTE: On Nov 30th interview, Assange mentioned he had leaks on Pharmaceutical, Energy, and Financial companies
[09:17] {harth} Good Morning:)
[09:18] {Threei}  harth :)
[09:18] {larisa} gm :)
[09:18] {nemo} harth vader...nahhhh
[09:19] {Threei}  larisa :)
[09:19] {larisa} :)
[09:19] {dino} gm all
[09:19] {dino} back in ten
[09:20] {Threei}  dino :)
[09:22] {harth} good one Nemo!
[09:23] {jfjf64} wow  2 .5 mil  order  C
[09:28] {ese} morning
[09:29] {Threei}  ese :)
[09:30] {RonS} gm everyone
[09:30] {jfjf64} RS
[09:31] {Threei}  Ron :)
[09:31] {Threei} Long Setup:  LVS  .75 break
[09:31] {Threei}  too fast?
[09:31] {nemo} yep
[09:32] {jfjf64} y
[09:32] {Threei} Long Setup:  RIMM  .80 break
[09:32] {Threei}  stop under .70
[09:34] {Threei}  no go
[09:38] {Threei}  SLW
[09:38] {Threei}  big dump
[09:39] {Threei} Long Setup:  X  .05 break
[09:39] {Threei}  if holding .95
[09:40] {Threei}  invalidated
[09:41] {ese} avgo dino
[09:41] {Threei} Long Setup:  GLD  .90
[09:41] {Threei}  if holding .80
[09:42] {Threei}  invalidated
[09:43] {jfjf64} cat  flyin
[09:45] {Threei}  wow SLW
[09:46] {Threei} Long Setup:  CAT  .35 break
[09:46] {Threei}  stop under .15
[09:47] {Threei}  1:1
[09:47] {nemo} what's 1:1?
[09:47] {Threei}  1:2crap... that was .25
[09:47] {Threei}  high at the moment
[09:47] {nemo} oh the stop?  yeah .20 I said...nahhh
[09:47] {Threei}  ?
[09:48] {nemo} .20 cent stop wasn't for me
[09:48] {Threei}  mistype, trigger was .25 break
[09:48] {Threei}  high at the moment
[09:48] {nemo} I understand
[09:49] {Threei}  back in trigger
[09:49] {Threei}  same setup
[09:50] {Threei}  something's strange with market
[09:50] {Threei}  abniormal volatility
[09:50] {Threei}  even fir the open
[09:51] {nemo} up so much.  it's above R3 pivot resistance...wile e. coyote moment
[09:51] {Threei}  mibbit problem?
[09:52] {RonS} dunno, i needed a reset...
[09:52] {nemo} clf interesting, just not sure which way
[09:52] {Threei}  (US) Preview: Nov IBD/TIPP Economic Optimism Index due out at 10:00ET
[09:52] {Threei}  **Consensus expectation: 47.2e v 46.7 prior
[09:52] {Threei}  no go CAT
[09:53] {Threei}  these sudden long red candles are very unusual
[09:53] {nemo} think spy bounces around .58
[09:56] {dino} back, got booted
[09:56] {dino} avgo watching, 25m insider sales
[09:56] {dino} sm l gil .52
[09:58] {jfjf64} lvs  break dn
[09:58] {jfjf64} ??
[09:58] {Threei}  can't tell
[09:59] {Threei}  normally market stabilizes within 5 min, maybe 10 after opening,
[09:59] {Threei}  today it stays wild for 30 min already
[09:59] {Threei}  let's wait numbers out
[09:59] {ese} L 1/2 avgo .13
[10:00] {Threei}  *(US) DEC IBD/TIPP ECONOMIC OPTIMISM: 45.8 V 47.2E
[10:01] {nemo} spy test support here
[10:03] {Threei}  SLW should be ready
[10:03] {jfjf64} cat  d/t
[10:06] {ese} dino ...do you ever add to positions or leave as is when you go in sm
[10:06] {dino} sm l .00 slw
[10:07] {dino} don't usually add
[10:07] {dino} my issue is usually 3 or 4 on at once
[10:08] {ese} was just thinkin about adding another 1/2 to avgo if it breaks .15
[10:08] {ese} ya i get ya
[10:08] {dino} where you in avgo?, .00?
[10:10] {Threei}  see how market finds no support?
[10:10] {nemo} either here or .30
[10:10] {dino} gap fill day maybe 3i
[10:11] {dino} feels like it
[10:12] {ese} .13
[10:12] {ese} should have been .00 but looked away for a minute
[10:14] {Threei}  looks like another pullback without setting new low should put a floor in
[10:15] {jfjf64} ??
[10:16] {Threei} Long Setup:  LVS  .95
[10:17] {Threei}  if stays above .85 for scalpers, .80 day traders
[10:17] {Threei}  not a scalp for me
[10:17] {Threei}  should be capable of 49.20 at least
[10:17] {nemo} in tck .81
[10:18] {dino} lnce, wtfc
[10:18] {Threei}  scalpers 1:1
[10:18] {dino} lnce sm l .74
[10:18] {nemo} 1/2 out .95
[10:19] {Threei}  day traders 1:1
[10:19] {jfjf64} ty
[10:19] {jfjf64} .09
[10:19] {jfjf64} lk  aggressive  entry
[10:20] {dino} out slw .40, +.40 ty vad for heads up
[10:20] {jfjf64} 49.00 was tough
[10:20] {jfjf64} nice
[10:20] {Threei}  beautioful play dino
[10:20] {jfjf64} 3i
[10:20] {jfjf64} gj  dino
[10:20] {Threei}  missed GLD reversal
[10:20] {dino} thx
[10:20] {Threei}  was looking at it for a while
[10:21] {jfjf64} comon
[10:21] {jfjf64} lol
[10:22] {ese} out avgo ..16 +.03
[10:22] {ese} goin nowhere fast
[10:27] {Threei}  LVS second target hit
[10:27] {stewy} threei, would you consider CAT  a salmon jbe?
[10:27] {Threei}  erlier, yes
[10:27] {Threei}  not now
[10:27] {stewy} thx
[10:27] {ese} onxx
[10:27] {Threei}  ea\rlier
[10:27] {nemo} rimm
[10:29] {ese} no momentum anywhere
[10:30] {Threei}  market breakdown or double bottom
[10:30] {Threei}  can't tell
[10:30] {Threei}  breakdown
[10:34] {ese} just don't have your patience dino....avgo up .14 on me the instant gratification guy
[10:35] {ese} am i still on the board
[10:35] {ese} yup
[10:35] {ese} got cut off then it popped back up again
[10:36] {dino} y
[10:36] {nemo} yes, unfortunately...I miss les
[10:36] {Threei}  (US) Republicans affirm stance against continuance of Build America bond issuance
[10:36] {Threei}  - Reminder: Earlier reports on the tax compromise with Obama detailed that the Republicans did not include an extension to the Build America Bond program; with the program expected to expire at the end of 2010
[10:37] {dino} skx sm l .65
[10:37] {Threei}  my gut says, we have a floor
[10:37] {Threei}  biunce from here
[10:38] {nemo} .30 is pivot support
[10:39] {Threei}  SLW
[10:46] {Threei}  this pullback is for entry, IMO
[10:46] {Threei}  SLW
[10:47] {Threei}  as close ro 40 as you can get
[10:47] {Threei}  I would be verty surprised if market made a new low anytime soon
[10:48] {Threei}  anyone caught it?
[10:48] {ese} L slw .20
[10:48] {Threei}  wow
[10:49] {Threei}  that's way higher than I had in mind
[10:49] {ese} a little high....but i just caught your post
[10:49] {Threei}  was .06 - 0.7 at the time of the comment
[10:49] {ese} yup
[10:50] {Threei}  works anyway
[10:50] {Threei}  (IR) Ireland Fin Min Lenihan outlines 2011 budget plan; sees small GDP rise this year; economic activity has been stabilized
[10:50] {Threei}  - Labor market also stabilized
[10:50] {Threei}  ***NOTE: Irish lawmakers to begin voting in lower house (Dail) during the evening local time; reports speculate voting to begin at around 14:00ET (19:00 GMT).
[10:50] {Threei}  - The initial vote today to cover excise duties and sales tax (VAT).
[10:50] {Threei}  - Media reports state the second part of budget vote may occur on Thursday 9th of December, which will cover social welfare.
[10:50] {Threei}  - Final vote to occur during the first quarter of next year, which is to cover general finance measures
[10:50] {ese} yup
[10:51] {ese} out slw .38 +.18 tks vad
[10:51] {Threei}  :)
[10:51] {Threei}  gut was right
[10:51] {ese} no sense in being greedy
[10:52] {Threei}  time of the "btoom" csll is 10:38, final low is 10:38
[10:52] {Threei}  call 10:37, sorry
[10:53] {ese} yup as per usual
[10:53] {Threei}  another chance is coming
[10:54] {Threei}  ugh, too fast
[10:55] {nemo} gmcr
[10:56] {dino} slw sm l .03
[11:00] {dino} lnce to .15
[11:00] {ese} l slw .19
[11:01] {ese} just hang in there dino ...I'll help drive slw up there for ya
[11:02] {nemo} geez gmcr
[11:02] {Threei}  what's with so high entries ese...
[11:02] {ese} i keep looking else where
[11:02] {dino} ok es
[11:02] {Threei}  so you missed it
[11:03] {jfjf64} cat   short
[11:03] {ese} i'm in 1/2  
[11:03] {Threei}  why chanse this high
[11:03] {jfjf64} imo
[11:03] {Threei}  dino grabs .03, I applaud
[11:03] {Threei}  you enter 16 cents higher, I am scared
[11:03] {Threei}  maybe I am easily scared, who knows :)
[11:04] {Threei}  but everything inside me protests such entries
[11:04] {ese} disciplined by the teacher.....embarased sobs ...on this end......abject rejection
[11:04] {nemo} methinks thou protesteth too much
[11:04] {Threei}  lol
[11:04] {ese} will not not be able to face tomorrow
[11:05] {jfjf64} die cat
[11:05] {ese} supreme embarasement in front of the rest of the board
[11:05] {nemo} nice jf, go after something with 9 lives
[11:05] {larisa} lol
[11:06] {dino} for shame
[11:06] {jfjf64} risk  4 cents
[11:06] {jfjf64} .96
[11:06] {jfjf64} short
[11:06] {nemo} just bustin'
[11:06] {jfjf64} pls  im  not  the  new  LES
[11:07] {nemo} I'll spread it around
[11:07] {nemo} He was my Randy Moss
[11:07] {ese} L slw 1/2 .01
[11:11] {jfjf64} somethi  gotta  give  cat
[11:12] {jfjf64} billion  shares   C
[11:13] {jfjf64} HASNT  MOVED
[11:16] {ese} out slw .22 +.10
[11:16] {Threei}  whew
[11:16] {Threei}  finally I can exhale
[11:17] {ese} lol
[11:18] {ese} 1/2 at .19 1/2 at .01....nothing to worry about chief
[11:18] {jfjf64} pull bk  mkt
[11:20] {Threei}  easy for you to say ese... but I am so worried about leader of opposition resigning right after the leader of ruling party
[11:20] {Threei}  we are so leaderless these days
[11:21] {Threei}  I even looked out the window this mornioong to make sure sun rises
[11:21] {ese} did Carol resign?
[11:21] {Threei}  yes
[11:22] {ese} oh my goodness....shes a friend of mine.....my kids played alot of her functions
[11:22] {Threei}  BC, the weirdest place opn earth {G}
[11:22] {nemo} and you live there
[11:22] {Threei}  fitting, don'tcha think
[11:22] {ese} always has been when it comes to politics
[11:22] {ese} theres the rest of Canada....and then theres BC
[11:22] {Threei}  for non-rwesidents, little detail, so you see the irony
[11:23] {jfjf64} die cat
[11:23] {jfjf64} 30 cents  nemo
[11:23] {Threei}  ruling party, right-ish wing, came to power in 2001 obliterating the opponenet, diminishing them to 2 seats in parlament
[11:23] {Threei}  won 3 elections in a row,
[11:24] {Threei}  then made huge mistake introducing new VAT-style tax
[11:24] {Threei}  and botching the intrioductuion badly
[11:24] {dino} gj jf
[11:24] {jfjf64} diff type  trade 4 me
[11:24] {Threei}  their polls dropped below the baseboard,
[11:24] {Threei}  opposition soared,
[11:24] {Threei}  leader of the ruling party resigned
[11:25] {jfjf64} die
[11:25] {Threei}  You'd think great times for opposition, right?
[11:25] {dino} lnce to .24
[11:25] {ese} thats what i thought
[11:25] {Threei}  uhhu... infighting starfts, and fraction fights make leader of opposition resign too, just on the verge on winning next election
[11:25] {ese} i know stupid
[11:26] {Threei}  selling hits again
[11:26] {Threei}  very nice tyrade jf
[11:26] {Threei}  trade too
[11:26] {dino} out lnce +.50
[11:26] {Threei}  wtg
[11:27] {dino} thx
[11:27] {dino} bonds crushed
[11:28] {jfjf64} out.57
[11:29] {jfjf64} 39 cents
[11:29] {dino} gj
[11:29] {jfjf64} ty
[11:31] {ese} L slw .29
[11:33] {ese} dino your slw positions gotta be lookin really good right now
[11:34] {ese} i do believe it's gonna take off
[11:34] {ese} if it gets past .40
[11:34] {dino} so far
[11:34] {ese} nice one
[11:35] {dino} thx
[11:42] {nemo} x db
[11:44] {dino} ltd sm l .75
[11:51] {ese} as in the ford LTD
[11:51] {dino} lol, had one in college
[11:52] {ese} my grampa had one
[12:00] {nemo} X at yesterday high
[12:08] {Threei} Short Setup: SLW  40 break
[12:09] {jfjf64} slw
[12:09] {Threei}  most likely just a scalp
[12:10] {Threei}  out
[12:10] {Threei}  .93
[12:10] {jfjf64} .94
[12:10] {Threei}  held better than I expected
[12:11] {Threei}  not even sure about 1;1
[12:11] {Threei}  slightest market bounce can catapult it back up
[12:11] {Threei}  1:1
[12:12] {stewy} thx, threei. rewards when
[12:12] {stewy} paying attention
[12:12] {Threei}  yeah, I too regret when I ignore myself
[12:13] {jfjf64} very rarly see ya do that
[12:13] {jfjf64} slw
[12:13] {Threei} Long Setup:  GLD  .55
[12:13] {jfjf64} not  ya 1/1
[12:13] {Threei}  if stays above .45
[12:14] {Threei}  true.. but things are somewhat unusual today, and I want to respect abnormal volatility
[12:14] {Threei}  1:1 GLD
[12:17] {dino} slv lod
[12:18] {Threei}  wow
[12:18] {nemo} what wow?
[12:18] {Threei}  watching GLD??
[12:19] {jfjf64} nemo sleepim
[12:19] {larisa} no, he watches X :)
[12:19] {nemo} x .55 bid
[12:19] {jfjf64} lol
[12:19] {Threei}  Bank of America Corp Reportedly BoA agrees to pay $36M to settle improper bidding procedures charges with SEC; other payments will total $101M
[12:19] {Threei}  - To settle the SEC's charges, BAS has agreed to pay more than $36 million in disgorgement and interest. In addition, BAS and its affiliates have agreed to pay another $101 million to other
[12:21] {stewy} usd marches higher
[12:21] {nemo} actually hungover
[12:21] {nemo} Monday night football
[12:22] {stewy} try four loko?
[12:22] {jfjf64} brady/bill   some match
[12:22] {nemo} yeah...pure excellence
[12:23] {ese} it's choir time....stopped out of slw .99
[12:24] {ese} cya tomorrow
[12:24] {dino} cya
[12:24] {stewy} take care, ese
[12:24] {jfjf64} cya ese
[12:24] {ese} stew jf
[12:27] {nemo} onxx bull flag
[12:28] {nemo} gmcr wedge
[12:33] {Threei}  (US) Moody's comments on Bush tax cut extension; feels there is a risk the tax cuts may be permanently extended after the 2 year time frame given political timing
[12:33] {Threei}  - Moody's notes there is little chance that the US ratings will be adjusted within 18 months to 2 years time
[12:35] {dino} we can only hope for permanent
[12:36] {jfjf64} d/b  lvs
[12:36] {jfjf64} ??
[12:37] {Threei}  nah
[12:39] {jfjf64} weak
[12:52] {nemo} how's the coma vad?
[12:53] {Threei}  enjoyable
[12:56] {dino} gfre
[12:56] {dino} sm l .25
[13:32] {dino}  .
[13:32] {nemo} =
[13:33] {RonS} O tv at 2:20 est
[13:33] {Threei}  yup
[13:33] {Threei}  tax deal
[13:35] {Threei}  LVS no bottom
[13:57] {Threei}  watchng LVS for 48 break short
[14:03] {Threei}  EU) ECB's Constancio: USD cannot be substituted in the medium term, IMF's SDR is not a substantive option
[14:03] {Threei}  - Notes that inflation fighting alone cannot deal with bubbles
[14:16] {dino}  that slw trades like pulp
[14:16] {nemo} fresh squeezed
[14:16] {dino} yes
[14:40] {Threei}  (US) President Obama: A long political fight over tax cuts would have been bad for the economy, still opposed to high end tax cuts and promises to end them in two years
[14:40] {Threei}  - Tax deal targeted at helping unemployment rate by helping to stimulate the economy.
[14:40] {nemo} he's out in two years
[14:41] {Threei}  - Declines to speculate on employment boost from tax deal, asserts only that it would "help the economy create jobs."
[14:41] {Threei}  unless sarah wins primaries
[14:42] {dino}  finally he admits tax cuts help create jobs
[14:43] {dino} extending unemployment from 99 weeks to 155 weeks, wow 3 years. under obamination his re-election slogan will be "re-elect me, you will never have to work again"
[15:00] {Threei}  what the?
[15:01] {nemo} What Obama say now?
[15:01] {Threei}  *(US) OCT CONSUMER CREDIT: +$3.4B V -$1.0BE
[15:02] {nemo} so, why does that make the market hiccup?
[15:02] {dino} stopped skx +.04
[15:02] {Threei}  no idea
[15:02] {Threei}  Prior revised lower to $1.2B from +$2.1B
[15:02] {Threei}  - Total consumer credit annual rate +1.7%
[15:02] {Threei}  - Revolving credit -$xB (25th straight decline; longest decline on record); -8.4% annual rate
[15:02] {Threei}  - Non Revolving credit +$xxB; +6.8% annual rate.
[15:04] {Threei}  I don't see anything anywhere to justify this sudden selloff
[15:04] {Threei}  whole day is very weird like this
[15:05] {Threei}  US Govt reportedly issues additional subpoenas in the insider trading investigation
[15:08] {Threei}  feels like another bout of selling is coming
[15:19] {Threei}  dino... you may be proven right about gap fill today if market keeps sekllinglike this
[15:19] {Threei}  that will be quite something, re close such gap same day
[15:22] {dino} msb
[15:22] {dino} getting close on gap
[15:22] {dino} msb gap fill lastbweek
[15:23] {dino} sm l .85 wide gappy
[15:24] {Threei}  selloff continues
[15:28] {Threei} Short Setup: SLW  .50 break
[15:29] {Threei}  invalidated for now
[15:31] {Threei} Short Setup: SLW  .60 break
[15:31] {Threei}  same idea, just looking for entry into bounce
[15:32] {dino} gut says up
[15:32] {Threei}  mine doesn't
[15:32] {dino} typical w/you/me
[15:32] {Threei}  mine says yours was right when called for gap fill
[15:44] {dino} rdwr hit
[15:44] {dino} news?
[15:44] {Threei}  no
[15:44] {Threei}  not yet anyway
[15:46] {Threei}  market's puking again
[15:46] {Threei}  just 12 points till red
[15:47] {Threei}  come on DOW
[15:49] {Threei}  good boy
[15:49] {Threei}  4
[15:49] {Threei}  1.5
[15:50] {Threei}  1
[15:50] {dino} s/p, ndx filled
[15:50] {Threei}  amazing
[15:50] {dino} last hours been strange lately
[15:51] {Threei}  wholeday today was vert strage
[15:51] {davd} i'm never amazed anymore.
[15:51] {Threei}  strange
[15:51] {dino} good way to be
[15:52] {davd} saying the drop because of subpoenas.  news + movement = reason!
[15:53] {dino} yeah, right
[15:53] {dino} talking heads
[15:53] {Threei}  lol
[15:54] {Threei}  useless too
[15:54] {dino} pretty much
[15:54] {dino} how about it dropped because it's snowing in pa
[15:54] {stewy} here's one:
[15:55] {stewy} it dropped cuz i started daytrading
[15:55] {dino} roflol
[15:55] {Threei}  red!
[15:55] {Threei}  my gut was right about your gut, dino
[15:55] {dino} y
[15:55] {Threei}  even though your gut hedged its bet {G}
[15:55] {dino} rdwr
[15:56] {Threei}  stewy... it's actually much easier to trade if market stops this neverending grind-up
[15:59] {stewy} easier to trade sounds too good to be true~
[15:59] {dino} out gil, +.15
[15:59] {davd} see, look at dino - an easy .15
[16:00] {dino} out gfre flat
[16:00] {Threei}  thank you all
[16:00] {harth} cya Wed!
[16:00] {Threei}  have a great evening, see you tomorrow which prmises to be an interesting day
[16:00] {stewy} thanks, all.
[16:00] {dino} unfortunately that was an all day .15
[16:01] {dino} hmmm, have to deal w/msb afterhours
[16:02] {larisa} bye!
[16:02] {dino} gn all