Thursday, March 10, 2011

Mar 10 2011

Very nice day with a lot of good plays, and most of all - we broke the pattern of lackluster midday performance. The play below is our afternoon fat whale.

Not a very frequent play for us - short into euphoric spike. In this particular case, setup presented itself within a minute so it's hard to see on 1 min chart but it was quite evident in real time as GCX danced a bit between 49 and 49.10 creating support and resistance. News from Saudi Arabia sent oil up and market down helping the play with quite precise timing. What is it they say about luck favoring prepared?

Session Time: Thu Mar 10 00:00:00 2011
[08:37] {strider} ASML  ARMH
[08:38] {strider} GS downgrade of semis
[08:44] {nemo} gmcr
[08:45] {nemo} on fcx, it rose to resistance at 48.15 now at db, short at break of DB or on retracement to 48.15 area
[08:45] {Threei}  *(US) INITIAL JOBLESS CLAIMS: 397K V 376KE; CONTINUING CLAIMS: 3.771M V 3.75ME
[08:45] {Threei}  - Prior Initial Jobless Claims revised higher from 368K to 371K
[08:45] {Threei}  - Prior Continuing Claims revised higher from 3.774M to 3.791M
[08:46] {Threei}  *(US) JAN TRADE BALANCE: -$46.3B V -$41.5BE
[08:46] {nemo} gmcr support at 54.78
[08:46] {Threei}  (GR) German Chancellor Merkel: Insisting Greece to solve its fiscal problems within three years could lead to fresh turbulance - German newspaper interview
[08:46] {Threei}  - Rulles out a Greek debt restructuring
[08:55] {Threei}  - Reiterates opposition to joint euro bonds.
[08:55] {Threei}  - Euro aid needs to be agreed upon unanimously; Germany is prepared to use its veto power.
[08:55] {Threei}  - Follow Up: Lower House Budget committee Chairman Fricke: Does not want Euro rescue fund purchase back bonds
[08:55] {Threei}  - Agreement on German-style debt brake in other Euro members would help in EU Leader talks
[08:56] {dino} gm all
[08:56] {Threei}  dino :)
[08:57] {Threei}  how come their goverment is scared to death of debt while US embraces it as if it were a drunken stripper
[08:58] {Threei}  British Pound vs US Dollar (UK) GBP softer with dealers attributing concerns over incident at Heathrow airport
[08:58] {Threei}  - The UK media reports that a man threatening to blow himself up at Heathrow Terminal 5. Now in a stand-off with armed police
[08:58] {Threei}  (LB) France President Sarkozy: To propose targeted airstrikes in Libya - US financial press
[08:59] {dino} the french?
[09:00] {nemo} He's proposing we do it
[09:01] {davd} a drunken stripper would have a hard time ebracing?
[09:01] {davd} enbracing?
06[09:01] * nemo slaps davd with a Threeish dictionary 3rd Edition
[09:03] {Threei}  my favorite reason is one cited by some economists, whatever they mean calling themselves that:
[09:03] {Threei}  since we borrow from ourselves, debt doesn't matter at all
[09:05] {jfjf64} mornin
[09:05] {Threei}  jf :)
[09:05] {RonS} gm  hgsi...some saying $3 bil in sales from lupus drug by '15
[09:05] {dino} sure, and nothing is real, jim taggart
[09:06] {davd} he's proposing WE do it - but please dont fly over france
[09:09] {Threei}  Moody's Spain downgrade is majot culprit this morning as I understand
[09:14] {rambler} morning....
[09:14] {Threei}  rambler :)
[09:15] {Threei}  rhe more I read these headlines...
[09:15] {Threei}  - Today's rating action concludes the review for possible downgrade, which Moody's initiated on December 15th 2010.
[09:15] {Threei}  - Moody's recognizes the government's resolve in addressing the country's key weaknesses, which is a key reason for limiting the downgrade to one notch.
[09:15] {Threei}  - Moody's believes that Spanish banks have an estimated shortfall of 40-50B vs. the government's est of about 20B; Moody's believes the overall cost is likely to be nearer to 40-50 billion, reflecting more than twice Moody's earlier estimates of recapitalization needs of 17 billion
[09:15] {Threei}  (SP) The 10-year Spanish/German Gov't bond spread at approx 230bps, wider by over 5bps following Moody's downgarde of sovereign rating
[09:16] {Threei}  attempt at defense (meek one):
[09:16] {Threei}  (SP) Spain Treasurer Nunez: Moody's does not justify its estimates for bank shortfall; current Spanish yields are within budget
[09:16] {Threei}  - The country has completed 24% of financing for the year.
[09:16] {Threei}  - The fact that Moody's did not wait for Bank of Spain data was surprising.
[09:17] {ese} morning
[09:17] {Threei}  ese :)
[09:17] {Threei}  finally,
[09:17] {Threei}  (SP) Fitch: Stress tests on Spanish banking system show more capital is needed: Forecasts shortfall of 38B with a worst case scenario 97B (Compares to 20B Gov't estimate)
[09:17] {Threei}  - Fitch estimates that the Spanish banking system would have a capital shortfall of 38B in a base-case stress scenario and 96.7B in a more extreme stressed scenario based on experience with banks in Ireland. The estimates result from updated stress tests that Fitch has conducted on domestic loans for Spanish financial institutions.
[09:17] {Threei}  - Most of the potential capital shortfall is linked to the caja sector, which represented 39% of the total banking system assets at end-September 2010. Fitch estimates that the caja sector would need 19.4B of funds in a base-case stress scenario and 54.7B in its Irish stress scenario
[09:18] {Threei}  to sum it up, I've no idea why it was decided a few months ago that EU crisis was resolved and Euro started its ascent
[09:19] {Threei}  it was as bad then as it was in the beginning, nothing was solved and it becomes evident now
[09:20] {dino} .
[09:23] {Threei}  SLW is losing ground
[09:24] {Threei}  overall, despite a sizable gap down, I am looking for ahort entries
[09:24] {Threei}  short
[09:24] {larisa} gm :)
[09:24] {Threei}  larisa :)
[09:24] {larisa} vad :)
[09:28] {magoo} morning
[09:28] {Threei}  magoo :)
[09:29] {Threei}  hope SLW gives us bounce to short into
[09:30] {_kkris} good morning
[09:30] {Threei}  morning kkris
[09:31] {nemo} 129.70 bounce territory spys
[09:29] {Threei}  that's far enough from here still,
[09:30] {nemo} yeah, think it works it's way there, then we find out
[09:30] {Threei}  and if SPY loses that zone, 129.70 - 130, I would say uptrend got broken
[09:30] {nemo} really
[09:30] {Threei}  OK, SLW and X are short targets into bounce
[09:30] {nemo} boy regretting not shorting fcx at premarket resistance high
[09:30] {nemo} jddsu
[09:31] {nemo} what, titanic sunk?
[09:32] {Threei}  SLW, ideally around .50 - .60
[09:32] {Threei}  yeah right
[09:32] {Threei}  not even trying
[09:33] {Threei}  switching to bounce hunt
[09:33] {Threei}  selloff is a bit too deep
[09:34] {Threei} Long Setup:  LVS.30  break
[09:34] {nemo} at S3 support
[09:34] {Threei}  half lot
[09:34] {Threei}  if stays above .15
[09:34] {Threei}  let's change to .20 break
[09:34] {Threei}  either .15 or .10 for stop
[09:35] {Threei}  both are valid with half lot
[09:36] {nemo} hgsi strong
[09:37] {Threei}  market hasn't stabilized still
[09:37] {Threei}  no go LVS
[09:38] {Threei} Long Setup:  SLW  .45 break
[09:38] {Threei}  half lot as well
[09:39] {Threei}  if holding above .30
[09:43] {Threei} Long Setup:  FCX  .40 break
[09:43] {Threei}  if holding above .30
[09:43] {Threei}  invalidated
[09:44] {dino} 2281 ndx filled from jan
[09:45] {Threei} Long Setup:  LVS  .80 break half lot
[09:47] {Threei}  stop for scalpers under .70, day traders .60
[09:47] {nemo} we should all be scalpers today
[09:47] {dino} sxci sm l .25 stop .98
[09:48] {Threei}  X
[09:48] {Threei}  on watch for short
[09:48] {Threei}  no setup yet
[09:48] {Threei}  LVS, scalpers 1:1
[09:49] {strider} out LVS .73--.95
[09:49] {strider} +.22
[09:49] {RonS} out lvs .78 to .97
[09:49] {magoo} nice
[09:49] {Threei}  day traders 1:1 shy of 2 cents
[09:49] {Threei}  take nemo's advice and get out
[09:50] {strider} isn't that always his advice?
[09:50] {nemo} after that kinda drop on the indexes, imo want to see a retest
[09:50] {Threei}  no need to play daredevil into such nervousness
[09:51] {Threei}  ok, X...
[09:51] {Threei} Short Setup: X  .20 break half lot
[09:51] {Threei}  if no new high
[09:51] {Threei}  attempt at double top play
[09:52] {Threei}  new high, disregard
[09:53] {nemo} x sitting just undr S3 and 23.6 retracement
[09:53] {Threei} Short Setup: RIMM  .85 half lot
[09:54] {dino} ctrp sm l .26 stop .98
[09:54] {Threei}  if stays under 63
[09:54] {nemo} oil below 102
[09:55] {Threei}  most likely just a scalp on RIMM
[09:55] {Threei}  1:1
[09:55] {Threei}  close enough
[09:55] {Threei}  out
[09:56] {strider} out
[09:56] {Threei}  easy money, sin not to take
[09:56] {Threei}  X reversal was not really exploitable to me
[09:57] {nemo} you have a problem with .40 stops?
[09:57] {strider} fcx bounce not imporessive
[09:57] {Threei}  lol
[09:57] {Threei}  good point nemo
[09:57] {Threei}  CAT
[09:58] {Threei}  spread is a bit too wide...
[09:58] {Threei}  better now but at themoment of setup forming (.60 break) widened too much for confident call
[09:58] {Threei}  ugh
[09:58] {larisa} long?
[09:58] {Threei}  got away
[09:58] {Threei}  no
[09:59] {Threei}  was a short on .60 break
[09:59] {larisa} it was .55
[09:59] {larisa} oh ok
[10:01] {nemo} rimm .54 level
[10:02] {nemo} dow 1200 coming, gird for battle
[10:02] {nemo} huh? so that's where girdle comes from?
[10:04] {nemo} new low russell
[10:04] {Threei} Short Setup: SLW  .90 break
[10:04] {Threei}  if stays under 41
[10:05] {Threei}  not a scalp
[10:05] {Threei}  target is about .50 - .60 zone
[10:05] {nemo} shit
[10:05] {Threei}  with partials along the way of course
[10:06] {Threei}  1:1
[10:06] {Threei}  first partial
[10:06] {Threei}  1:2
[10:06] {Threei}  second part
[10:07] {Threei}  stop b/e for the last one
[10:07] {Threei}  underestimated RIMM potential
[10:07] {Threei}  or to use the right word, misunderestimated
[10:07] {nemo} under 1200 dow
[10:07] {nemo} 12000
[10:08] {ese} L tza 39
[10:08] {ese} holy crap
[10:08] {Threei}  SLW 1:3
[10:08] {Threei}  1:4
[10:08] {ese} out tza .66
[10:08] {Threei}  taget's hit
[10:08] {Threei}  out .52
[10:09] {strider} wtg ese
[10:09] {ese} +.27 on 4k instantly
[10:09] {nemo} mmmhhhh...the short circuit breakers might kick in on the indexes..hehehehhehe
[10:09] {Threei}  nice
[10:09] {ese} whoa......that even surprised me
[10:09] {ese} crap did that move fast
[10:09] {ese} was typing in the call for the board ....looked up and it was .30 up
[10:10] {strider} you need to look up more often
[10:10] {ese} tks st
[10:11] {strider} slw db
[10:12] {Threei}  .50 break would be attempt to play it, strider
[10:12] {Threei}  discretionary
[10:12] {Threei}  no official call
[10:12] {dino} meli sm l .42
[10:12] {Threei}  you likey, you takie
[10:13] {Threei}  1:1 for those who likied so to speak
[10:13] {strider} me like
[10:13] {Threei}  takied too?
[10:13] {strider} no...just like
[10:14] {Threei}  oh
[10:14] {strider} yes, takey too
[10:14] {Threei}  it's truly amazing in how many ways we can butcher English
[10:14] {nemo} what's this "we" shit tanto?
[10:14] {strider} I never realized that till I came here.
[10:15] {Threei}  you want me to take full credit for that? gldaly
[10:15] {nemo} fringe deficit
[10:15] {ese} ya.....whats this "we".........
[10:15] {Threei}  lol
[10:15] {Threei}  sure, abandon me ya'll
[10:16] {ese} oh....for your hour of need?   Were gone!
[10:16] {Threei}  I alone will fight the dark forces of literacy
[10:16] {Threei}  crap... can't watch RIMM cascade
[10:17] {Threei}  seriously underestimated how weak it was
[10:21] {RonS} caught meli .37 to .78  thxs dino
[10:21] {strider} s&p adv/decl hit -486 earlier
[10:23] {davd} fcx is moving back up toward its prior db
[10:25] {strider} fdx at hod
[10:25] {dino} gj ron
[10:27] {strider} fcx bounced off hod
[10:30] {RonS} scratched sxci...did not like the supply coming in on the ask
[10:30] {Threei}  LVS
[10:30] {Threei}  retesting support on lower volume
[10:30] {dino} out ctrp .56, +.30
[10:30] {nemo} might look for a dt or lower top on fcx
[10:31] {Threei} Long Setup:  LVE  .60 break
[10:31] {dino} out meli .99, +.57
[10:31] {Threei}  if holding above .55 for scalpers
[10:31] {Threei}  .50 day traders
[10:31] {RonS} gj dino
[10:31] {Threei}  LVS that was, sorry
[10:31] {dino} ty
[10:31] {jfjf64} ya drinkin
[10:36] {Threei}  no go
[10:38] {nemo} slw short?
[10:38] {Threei}  doesn't look like it
[10:41] {strider} l DO .80
[10:41] {Threei}  reading your vows?
[10:42] {nemo} nice one
[10:42] {strider} yeah....where did I go wrong?
[10:42] {nemo} birth
[10:44] {nemo} mags, dino  "Some men are just angry about being born."
[10:44] {strider} out .94 +.14
[10:44] {dino} tombstone
[10:44] {Threei}  no news for this market spike
[10:44] {nemo} bingo
[10:45] {Threei}  SLW starts looking better, nemo
[10:45] {nemo} spy bounced just above monthly pivot support
[10:45] {Threei}  won't budge with market
[10:45] {strider} better than what?
[10:46] {Threei}  10:38] {nemo} slw short?
[10:46] {Threei}  [10:38] {Threei} doesn't look like it
[10:46] {strider} :)
[10:46] {strider} short .40?
[10:46] {nemo} would still be under my stop
[10:47] {nemo} actually, only retraced to my entry
[10:48] {nemo} hgsi spiking
[10:49] {strider} s&p up/down vol. continues down
[10:49] {nemo} lok where vwap is?
[10:49] {strider} 130.47
[10:50] {nemo} yeah
[10:50] {rambler} BLTI doing well today....
[10:50] {rambler} too bad I bailed at the open....
[10:50] {rambler} sigh...
[10:51] {nemo} hgsi capitulation spike
[10:51] {nemo} gmcr might be setting up for a short, volume drying up
[10:51] {strider} euphoria
[10:52] {nemo} yea fine, 3i's fault
[10:53] {strider} damn  euphoric capitulator
[10:53] {strider} fcx wedge
[10:54] {Threei}  Euro vs US Dollar Sets fresh session lows at 1.3791, Dealers note the Jan uptrend line at 1.3780- Aussie breaks below parity
[10:55] {davd} nemo spy at vwap.  any thoughts?
[10:56] {nemo} yeah pornographic
[10:56] {davd} i set my browser to ignore you first response.
[10:57] {nemo} no...s3 is 13.52 and weekly S1 at 130.6, plus 25.6 retrace at 130.50 so lot's of resistance there, see what happens
[10:57] {nemo} s3=130.52
[10:57] {davd} graci
[10:57] {nemo} we could be range bound
[10:59] {ese} s sm xl21`
[10:59] {Threei}  LVS runsed
[10:59] {nemo} most drops have seen a 50% retrace so far
[11:02] {strider} X dithering
[11:03] {RonS} ese wha?
[11:03] {strider} dithering: advanced technical term, ron.
[11:03] {RonS} check nlst
[11:04] {dino} sxci stopped -.30
[11:05] {davd} vix at lod { 21.5
[11:06] {nemo} spy barebacking vwap
[11:06] {RonS} pulllease
[11:06] {Threei}  NLSAT had news in the morning
[11:07] {RonS} Netlist Inc. Hearing chatter company could sign a major deal- Amazon rumored as a potential partner
[11:07] {Threei}  LB) NATO SecGen Rasmussen: NATO plans to increase number of vessels stationed in the Mediterranean off Libya; NATO did not discuss air strikes
[11:07] {Threei}  - Additional planning will be needed for implementation of any no-fly zone.
[11:08] {dino} it will be over before they act
[11:09] {dino} afop l ave .25
[11:09] {dino} arex sm l .00
[11:09] {Threei}  incredibly disgusting situation with no good solution
[11:09] {dino} wow out arex .45, +.45
[11:10] {Threei}  stay away - you send a message that murderous dictator can do whatever he wants, and rebels can't count on any help
[11:10] {RonS} gj dino
[11:10] {dino} think bosia or iraq w/sadaam
[11:10] {Threei}  go in - you are in another quagmire, and those you try to help end up hating you
[11:10] {dino} lol ty ron
[11:10] {RonS} end up?  born that way and always will be
[11:11] {Threei}  yeah, that too
[11:11] {dino} its a lack of education imo
[11:11] {Threei}  and Europe hates you either way,
[11:11] {Threei}  for not helping or for intruding
[11:11] {dino} teach them junk religous stuff instead of math science
[11:12] {dino} jihad garbage, it just keeps them down w/dictators in charge
[11:12] {dino} as i cauiously lookmout my window
[11:13] {Threei}  you better
[11:13] {dino} god forbid i draw a cartoon
[11:13] {Threei}  I for one was taught that USSR was the fairest society in the world
[11:13] {RonS} well, seein the babes from there it might have been
[11:14] {dino} indeed
[11:14] {Threei}  not sure what "fair" has to do with it... but whatever works for ya :)
[11:15] {RonS} elementary ed...fair refers to fair maiden...
[11:15] {Threei}  although yeah, hard to argue,
[11:15] {davd} it was fair - unfortunately that goes against human nature
[11:15] {Threei}  friend of mine had a week-long trip to Moscow
[11:15] {dino} bingo davd
[11:16] {Threei}  his comment upon return was
[11:16] {dino} its not about being fair, its about striving to do your best
[11:16] {Threei}  walking 10 min down the street, I had a feeling I was on a supermodel catwalk
[11:16] {larisa} which street was it?
[11:16] {Threei}  I didn't ask
[11:16] {dino} very nice
[11:17] {Threei}  Arbat I'd assume
[11:17] {RonS} so, he was the supermodel???
[11:18] {Threei}  davd,,, my contention is: wolrd works thanks to inbuilt unfairness
[11:18] {larisa} i was in moscow last summer.  Beautiful girls do not walk streets anymore, they are all in the cars. No nice looking men also. do not know where they are :)
[11:18] {Threei}  his standards might have been lower than yors, larisa :)
[11:18] {RonS} lol
[11:19] {Threei}  simple mental experiment, oversimplified of course but illustrating the point:
[11:19] {Threei}  imagine world waking up one fine morning to total and absolute fairness - each, and I mean each person living has unlimited amount of money
[11:20] {Threei}  how long is this world going to exist?
[11:20] {RonS} imeediately trend to current situation w/in ten years
[11:20] {dino} ahh the liberals dream
[11:20] {Threei}  hmmm
[11:20] {Threei}  10 years?
[11:21] {Threei}  10 days is the max I'd give it
[11:21] {Threei}  here:
[11:21] {Threei}  you waker up, all happy, in the fair wolrd
[11:21] {Threei}  and decide to take nice trip to the country of your dream
[11:21] {Threei}  whatever it is, say Australia
[11:22] {Threei}  you want to drive to airport and buy the ticket to the next available flight
[11:22] {Threei}  price doesn't matter
[11:22] {Threei}  your tank is empty,
[11:22] {Threei}  you drop by to the gas station
[11:22] {Threei}  it's locked
[11:22] {Threei}  no worker came to serve you
[11:22] {Threei}  they all have no need to work anymore
[11:22] {strider} any mibbit problems?   greg can't log on
[11:23] {Threei}  they have all the money in the world, just as you do
[11:23] {magoo} might be a mibbit ghost
[11:23] {Threei}  no grocery store works
[11:23] {magoo} which vad can clear
[11:23] {Threei}  no pilot came to fly that plane
[11:23] {RonS} something mags sees regularly
[11:23] {Threei}  do I need to continue? :)
[11:24] {magoo} nah, thats dino
[11:24] {Threei}  unfair makes people do something
[11:25] {RonS} that nad according to Keynes:  animal spirits
[11:25] {RonS} and
[11:25] {Threei}  and don't tell me that people will strive for being busy and productive, thus they will come to work anyway
[11:25] {dino} sm l sxci ave .01
[11:25] {Threei}  that goes for certain professions and positions, but not for a guy scrubbing toilets or gal stocking shelves
[11:26] {dino} exactly, just look at welfare, the more kids you have the bigger house govt pays for and more money you collect
[11:26] {Threei}  greg connects fine, just doesn't seem to stay connected
[11:26] {Threei}  which is not mibbit.. his ISP
[11:27] {strider} on phone with gregg...he doesn't havee access even when it shows he's on
[11:27] {dino} who is greg? neighbor strider?
[11:27] {strider} yes
[11:27] {Threei}  let me try to connect as him
[11:27] {dino} cool
[11:28] {gregns} test
[11:29] {gregns} there... works fine from my end
[11:29] {Threei}  can read and post
[11:29] {strider} ok  thks
[11:30] {strider} he's gonna try mIRC
[11:33] {Threei}  (EU) ECB's Mersch: ECB currently encountering extreme uncertainty; Calls for more flexibility and volume of the EFSF
[11:33] {Threei}  - Notes concern that the recent energy price spike may not be as temporary as many hope
[11:36] {davd} europe closing.  old days says up in usa.  imo
[11:36] {strider} fdx positive for the day
[11:39] {davd} 30 yr treas lod - but auction at 1pm est
[11:41] {dino} ups too
[11:45] {davd} commie red went green
[11:45] {davd} any guesses
[11:48] {ese} L fcx .71
[11:50] {ese} out .77
[11:50] {dino} gj
[11:50] {ese} quick 60 bucks
[11:51] {ese} make that 50
[11:51] {strider} can you dcc from mIRC to mibbit?
[11:51] {Threei}  sure
[11:51] {strider} didn't know
[11:52] {Threei}  (GR) EU's Rehn: Confident that Greece will conduct reforms
[11:52] {Threei}  Greece: wanna bet?
[11:53] {dino} at some point it may be easier for them to default
[11:55] {ese} Lfcx.77
[11:56] {strider} DE
[11:56] {ese} out fcx .93
[11:56] {ese} +.16
[11:56] {dino} nice
[12:00] {ese} tks
[12:00] {magoo} dino, check your email please
[12:01] {Threei}  dino, don't do it
[12:01] {Threei}  I checked e-mail from magoo ones
[12:01] {Threei}  cleaned computer from porno images for two mopnths after that
[12:02] {Threei}  well, it was possible to clean it up in 5 min but I took my time to clean it thoroughly
[12:02] {nemo} jeez gmcr just keeps going
[12:02] {dino} ok
[12:06] {dino} nemo, look peet
[12:07] {dino} zgnx spike
[12:07] {ese} thats because people are using hypodermics to inject coffee these days nemo.......ya use it quicker so coffee profits are going up
[12:07] {nemo} this probably has something to do with the gmcr starbucks deal
[12:07] {dino} out sxci .44 ave +.43
[12:08] {dino} yes
[12:08] {ese} hmmmmm didn't hear about it........starbucks buying them out
[12:08] {nemo} threei whack ese
[12:08] {ese} lol    sheesh
[12:08] {dino} no
[12:09] {ese} ask a simple question anddddddd.........
[12:10] {nemo} might hold that low, tested support 40.20 below that
[12:10] {nemo} think it comes back to .75 area
[12:17] {dino} have to re-boot
[12:17] {nemo} gmcr is just unbelievable
[12:21] {dino} .
[12:24] {Threei}  Brown pelican blown by hurricane all the way from Southern US to Halifax is back home by van
[12:24] {Threei}  rofl
[12:24] {Threei}  I envision this poor pelican looking around with this stinned expression, finding itself in Canada: What the???
[12:24] {larisa} why is it funny?
[12:24] {Threei}  stunned
[12:24] {larisa} poor bird
[12:25] {Threei}  but what memories
[12:25] {davd} 10 bucks says he's in Argentina by April
[12:25] {Threei}  listen grandkids... once there wasa strong wind...
[12:25] {strider} named nemo
[12:27] {dino} nnbr ave .10 l sm
[12:27] {Threei}  (LB) Saif al-Islam: There is no longer any chance for negotiating with opposition forces fighting against the Libyan government
[12:30] {dino} he is thinking we must slaughter them now before nato makes up its mind
[12:31] {Threei}  totally
[12:31] {Threei}  it's not like time is on hos side
[12:38] {Threei}  (SP) Spain Fin Min Zapatero: Competitives framework agreement will serve to strengthen the Euro; confident an agreement will be reached tommorow
[12:40] {davd} vix below 21 for
[12:41] {davd} vix holding below 21 for last hour
[12:47] {nemo} geez strenth in fcx
[12:52] {strider} it's a trap.  Do Not Seek the Treasure!    -Pete
[12:55] {strider} any news?   market getting awfully happy
[12:56] {nemo} wtf
[12:56] {Threei}  nothing worth attention, strider
[12:57] {Threei}  page not found, nemo
[12:57] {strider} strong vol on those two green bars: fcx
[12:58] {nemo} just forwarded it to you Vad
[13:03] {Threei}  Indirect bidders take 43.4% of competitive bids, 0.01% go to Direct bidders, Primary Dealers take 56.6%
[13:03] {Threei}  wow
[13:03] {Threei}  haven't seen direct bidders taking this little
[13:09] {strider} spy making h&s
[13:12] {strider} rcrc
[13:12] {davd} fcx is green
[13:13] {dino} rcrc buyout
[13:13] {nemo} market likely to test 131.05, it's been running a perfect channel since 10:15  spy
[13:13] {strider} did I mention the 50 cent spread?
[13:14] {dino} line l .05
[13:18] {strider} DO lod
[13:19] {Threei}  FCX seems to be peaking
[13:19] {Threei} Short Setup: FCX  .80 break
[13:19] {Threei}  if stays under .90
[13:20] {Threei}  invalidated
[13:20] {Threei}  not off radar though
[13:20] {Threei}  should crest soon
[13:22] {Threei} Short Setup: FCX  .90 break
[13:22] {Threei}  if stays under 49
[13:23] {dino} arex rockin
[13:24] {Threei} Short Setup: FCX  49 break
[13:24] {Threei}  stop above .10
[13:24] {Threei}  1:1
[13:25] {Threei}  (SR) Saudi police are said to have opened fire during a protest - US press
[13:26] {Threei}  1:2
[13:26] {dino} explains the drop
[13:27] {ese} signing off...cya tomorrow
[13:27] {Threei}  unconfirmed reports indicate three protestors have been shot
[13:27] {Threei}  1:3
[13:27] {Threei}  take care ese
[13:27] {dino} cya es
[13:28] {Threei}  broke the pattern of stops in the aftrenoon
[13:29] {dino} uso spike
[13:29] {dino} kicking myself for selling arex
[13:30] {Threei}  couldn't come at the better time for out FCX short
[13:30] {Threei}  just as it was cresting
[13:30] {Threei}  1:4
[13:32] {Threei}  1:5
[13:32] {Threei}  the speed with which market lost all the gained ground is nothing short of amazing
[13:33] {Threei}  3 hours of climb erased in 10 min
[13:33] {dino} they always fall faster than rise
[13:33] {Threei}  good to know Sir Newton was right eh
[13:34] {dino} saudi govt, "won't allow protest"
[13:34] {Threei}  1:6, over and out
[13:34] {Threei}  +.59
[13:34] {dino} gj
[13:34] {Threei}  can I go home?
[13:34] {dino} look clf
[13:35] {nemo} wow usl went from -.78 to -.27 in two minutes
[13:35] {Threei}  wow, even that was too soon for FCX cover
[13:35] {nemo} support not until .00-.10
[13:36] {nemo} trend line currently at .00
[13:36] {Threei}  130 is lost
[13:36] {Threei}  we are in key support area
[13:37] {rambler} nice job on FCX Vad....
[13:37] {Threei}  ty
[13:38] {Threei}  especially satisfying as it breaks this pattern of last days where we couldn't find a good afternoon play
[13:38] {rambler} wife had just called....missed it by that much.....
[13:38] {rambler} as Max would say....
[13:38] {Threei}  so I adjusted by not pressing marginal setups and waiting for a "star play" only
[13:39] {rambler} sounds like a good plan in this market....
[13:39] {dino} like star power
[13:39] {dino} out nnbr .40, +.30
[13:39] {nemo} slw short?
[13:40] {strider} short . DO .67 out .48 +.19
[13:40] {strider} couldn't take finger off mouse to post it
[13:42] {Threei}  SLW, looks like topping but no clear trigger
[13:45] {strider} short 1/2 .61 slw
[13:52] {strider} stop
[13:53] {strider} -.16
[13:53] {rambler} bot COOL 2.45....
[14:01] {Threei}  *FEB MONTHLY BUDGET STATEMENT: -$220B
[14:02] {Threei}  v -$225Be (29th straight month of deficits)
[14:02] {rambler} out COOL flat....
[14:04] {davd} shots not in ryyad
[14:11] {rambler} watching LVS here Vad
[14:12] {Threei}  not ready for bounce IMO
[14:13] {nemo} .60 level
[14:14] {rambler} I was thinking short at 40 ....and of couse it works...
[14:15] {nemo} first mistake was thinking
[14:15] {rambler} always does when your not in....
[14:15] {dino} same here nemo, missed 3 50 cent moves over thinking
[14:16] {Threei}  and we have the room topic plastered up there every day
[14:16] {dino} i know
[14:16] {dino} you know what else rambler? the one stop you don't take will gut you
[14:17] {rambler} that is a hard one to learn....
[14:18] {Threei}  but it's a must
[14:18] {rambler} I took a stop on BLTI this morning....
[14:18] {rambler} that one hurt...
[14:19] {dino} dndn spike
[14:19] {strider} cover CLF short +.17
[14:20] {Threei}  Dendreon Corp Expands launch of Provenge; FDA approves additional facility- U.S. Food and Drug Administration (FDA) approved the remainder of its New Jersey manufacturing facility, allowing the company to significantly increase the availability of PROVENGE(sipuleucel-T) to help meet the needs of patients with asymptomatic or minimally symptomatic metastatic castrate resistant (hormone refractory) prostate cancer.
[14:20] {Threei}  PIMCO's Gross: Moving more money towards emerging markets; have not been involved in the last two treasury auctions - CNBC interview
[14:20] {Threei}  - Still believes in high-yield corporate bonds. Still holding some US Treasuries with maturities below 12-months.
[14:20] {Threei}  - Money now going towards Brazil and Mexico
[14:20] {Threei}  - REMINDER: earlier today Gross confirmed yesterdays report that PIMCO's flagship fund sold entire holdings of long-term US bonds due to low yields; holds $30-40B in US treasury bills.
[14:25] {strider} fcx short here?
[14:26] {strider} yep
[14:27] {strider} I want partial credit for that.
[14:28] {Threei}  why partial
[14:28] {Threei}  you can have whole thing
[14:28] {strider} cause I didn't take it.
[14:35] {dino} afop stopped -.23
[14:35] {magoo} dino, check email please
[14:41] {dino} clf sm l .85
[15:02] {RonS} unfeakin believable...some phone co bozo busted my line and i had to get another to fix it
[15:02] {RonS} anything going on?...
[15:04] {RonS} :s
[15:06] {dino} clf stopped
[15:09] {strider} CLF is a monster
[15:10] {dino} yeah
[15:21] {RonS} knock knock
[15:23] {strider} who's there?
[15:24] {Threei}  US Chief Intelligence: Gadhafi Is Likely to Survive Revolt
[15:24] {RonS} apparently noone
[15:25] {Threei}  nice... we kicked those dictators who were friendly to us, and allowed enemies to survive'
[15:25] {Threei}  message is loud and clear
[15:29] {Threei}  SPY is sitting on the lower BB and 50 MA on daily
[15:29] {Threei}  and 130 support
[15:30] {Threei}  very precarious situation
[15:31] {rambler} LVS long here Vad...
[15:31] {Threei}  nope
[15:32] {rambler} down more ....?
[15:32] {Threei}  more likely than up
[15:32] {Threei}  (LB) UK PM Cameron and France Pres Sarkozy request the UN recognize the opposition party in Libya
[15:33] {larisa} vad, you like Martin Iden creating the list of 10 wierd English words every day and repeat them in front of the mirror?
[15:33] {Threei}  yes, and do it as soon as possible - a few days more and there will be nothing to recognize
[15:33] {Threei}  hmm?
[15:33] {Threei}  what did I create today?
[15:34] {larisa} I was just wondering if you do so or not :)
[15:36] {larisa} CLF lost 85
[15:38] {dino} lufk sm l .25 trig
[15:39] {dino} no go
[15:41] {dino} giddy-up
[15:43] {davd} rubber bullets, small crowd...
[15:44] {davd} wow rubber bullets are a bull signal for sure
[15:45] {dino} really?
[15:45] {dino} rubber bullets
[15:49] {Threei}  rambler... see how LVS can't raise its head even as market bounced?
[15:50] {dino} c'mon lufk go
[15:52] {rambler} may here...touch down on .80 and .....
[15:53] {Threei}  and drop more?
[15:55] {Threei}  nope, you were right
[15:55] {rambler} got lucky...
[15:56] {dino} :D
[15:56] {Threei}  (LB) Gulf Ministers claim the Libya Govt has lost any legitmacy
[15:56] {Threei}  it had a lot to begin with, right?
[15:59] {Threei}  happy with today's performance
[15:59] {Threei}  good morning and good afernoon
[15:59] {Threei}  and don't forget to look at catch of the day, tioday;s onbe is somewhat unusual
[15:59] {magoo} nice work vad
[15:59] {Threei}  thank you all, have a good evening
[15:59] {rambler} thanks all,,,,
[15:59] {larisa} bye all
[15:59] {Threei}  see you tomorrow