Friday, April 8, 2011

Apr 08 2011

Another grinding day - better than yesterday, with a few nice wins but still nothing to write home about.

Session Time: Fri Apr 08 00:00:00 2011
[05:14] {_stmaartenbyair} Hello, my first day here. Can someone please let me know when someone is online for trading?
[08:05] {Threei}  (US) Fed's Lockhart: The economic outlook gives the Fed room on monetary policy; commodity price gains will be transitory, longer run inflation expectations are stable
[08:05] {Threei}  - Expects inflation to level off around +2% eventually.
[08:05] {Threei}  - Expects slight pass-through of higher food and energy prices.
[08:05] {Threei}  - US economy is recovering, but still fragile. Recovery is boosted by a strong manufacturing rebound.
[08:05] {Threei}  - Recovery still needs the Fed's support.
[08:05] {Threei}  slight, eh?
[08:05] {Threei}  (EU) German insurer Allianz: Sees the EU debt crisis ending with Portugal
[08:06] {Threei}  he is a seer, this one
[08:06] {nemo} Love this:   commodity price gains will be transitory,
[08:06] {Threei}  uhhu
[08:06] {nemo} as the dollar shits the bed,,,,,,,right
[08:07] {Threei}  well... to be fair, when the QE ends, who knows how high dollar can go
[08:08] {nemo} Well, when and if it does, it will depend on what else they do behind the scenes
[08:08] {Threei}  right... that's why I hedge my bets saying "who knows" :)
[08:11] {Threei}  without even pretending to be able to foresee anything, my presonal feeling is - they will try hard as they can to balance between hard nosedive and spike,
[08:12] {Threei}  taking actions one way, then balancing them out by going the other way.
[08:12] {nemo} and, they'll screw it up
[08:12] {Threei}  The main question will be, whether they manage to keep the balance, or it's going to take life on its own and turn into pendulum with increasing magnitude
[08:13] {Threei}  yeah, I tend to agree with you there,
[08:13] {Threei}  their record is not good
[08:13] {nemo} they should call Raven and let him run everything
[08:13] {Threei}  and I don't see much in terms of evenness in their thinking
[08:13] {nemo} I think I'll start drinking now
[08:15] {Threei}  my only hope is that they manage to stave eventual collapse long enough so it's not my problem anymore
[08:15] {Threei}  I mean, collapse of one motherland is enough for one's lifetime, right? Two is serious lack of luck
[08:18] {Raven} lol
[08:18] {Raven} "they" better call today cause I'm headed to TEXAS Sunday
[08:19] {nemo} emigrating?
[08:19] {Raven} not yet ... just chasing birds
[08:19] {Threei}  who are migrating
[08:19] {Raven} yes
[08:20] {Raven} birds coming North ... Raven going South
[08:20] {Raven} major clash
[08:20] {Threei}  seriously... what's up with that
[08:22] {Raven} migration in April in Texas along the coast produces huge numbers of birds that are tired after flying over the Gulf and they are very easy to get near
[08:23] {Raven} great views of warblers at eye level that are normally in the top of trees
[08:23] {Raven} you'd have a great time with your camera
[08:23] {Threei}  I bet
[08:23] {Threei}  speaking of which
[08:23] {Threei}
[08:24] {patience} good morning, nice to hear from you Raven
[08:25] {Threei}  patience :)
[08:25] {Raven} hi patience :)
[08:25] {Raven} nice 3i ... been there many times
[08:26] {patience} Vad, I'm surprised you came home..the photos are beautiful
[08:26] {Raven} usually stay in Forks .. lol ... land of loggers
[08:27] {Threei}  you recognized the place raven?
[08:28] {Raven} some of them yes
[08:28] {Threei}  well, I am not about to spend the rest of my life in a log cabin, living off gift shop supplies... so yeah, I came home
[08:28] {patience} glad you did
[08:29] {Threei}  also, 200/night is a bit, ummm
[08:29] {Raven} ya gotta like rain if you stay there very much
[08:29] {patience} talk to us about rain, i have every bird imaginable in my back garden as i am once again hosting a lake on the lawn
[08:30] {Raven} nice
[08:30] {Raven} robins freezing their butts off around here ... miserable winter never ends
[08:30] {Threei}  (US) Fed's Lockhart: HAve not seen any indication of wage inflation
[08:31] {Threei}  of course not, you moron
[08:31] {Threei}  with unemployment like this
[08:31] {patience} ask him if he fills the gas tank up
[08:31] {Raven} he has a driver
[08:31] {Threei}  "wage" inflation he is talking about
[08:32] {patience} sorry, only had one cup of coffee
[08:33] {patience} my cheapie silver stock FVI went up just over 15% yesterday
[08:57] {ese} mornin
[08:57] {Threei}  ese :)
[08:57] {ese} vad, patience
[08:58] {ese} high school R&B band is doing a show up by your house this evening
[08:58] {ese} at the Uplands Golf Club.......ya wanna come over and see them?
[09:15] {rambler} good morning....
[09:15] {Threei}  rambler :)
[09:15] {larisa} gm :)
[09:15] {Threei}  larisa :)
[09:15] {larisa} vad :)
[09:18] {nemo} POT above 60 could be a breakout
[09:21] {patience}  hi ese, sorry i was doing my pre-market hunting and pecking
[09:21] {nemo} careful, Raven might come to visit
[09:22] {patience} let me check with the other half...sounds excellent
[09:25] {Threei}  (RU) Russia PM Putin: Russia does not want to implement WTO rules until it has been made a member of the organization
[09:25] {Threei}  kind of logical
[09:29] {Threei}  let's stay with half lot again
[09:29] {Threei}  want to make sure my brain is back from vacation before increasing share size
[09:31] {jfjf64} yello
[09:31] {Threei}  jf :)
[09:32] {rambler} sold SHZ  +.30
[09:32] {Threei} Long Setup:  X  .80 break
[09:32] {Threei}  if holding .70
[09:33] {Threei}  nope
[09:34] {Threei} Long Setup:  X  .65 break
[09:35] {Threei}  if holding .55
[09:35] {nemo} too fast
[09:35] {jfjf64} thinkkkkkkk
[09:35] {Threei}  second chance
[09:35] {Threei}  same setup
[09:37] {Threei}  not this time
[09:39] {Threei} Long Setup:  FCX  .50 break
[09:40] {Threei}  target .80
[09:40] {Threei}  with partials of course
[09:41] {Threei}  1:1
[09:42] {Threei}  1:2
[09:43] {rambler} out at .71, thks Vad...
[09:44] {Threei}  yw
[09:44] {jfjf64} ty
[09:48] {Threei}  what's qwith these sharp red bars
[09:48] {gregns} BBBY?
[09:48] {Threei}  short
[09:48] {Threei}  54 nreak
[09:48] {gregns} ty fcx
[09:50] {Threei} Short Setup: BBBY  54 break
[09:51] {Threei}  not a scalp
[09:52] {Threei}  single buyer is keeping it afloat
[09:52] {Threei}  if/when he gives up...
[09:52] {Threei}  the amount of air under it is scary huge
[09:59] {Threei}  invalidated for now
[10:03] {Threei} Short Setup: LVS  .95 break
[10:03] {Threei}  stop above .05
[10:04] {Threei}  BBBY is valid again
[10:08] {Threei}  LVS is funny
[10:08] {Threei}  1 cent to 1:1, then 1 cent to stop
[10:08] {Threei}  let's scratch it?
[10:09] {Threei}  market drops.. maybe this time
[10:09] {Threei}  compromise: trailing to 55.01
[10:11] {Threei}  out
[10:12] {Threei} Short Setup: X  .20 break
[10:12] {nemo} missed bbby
[10:12] {Threei}  BBBY, you gotta be kidding
[10:13] {RonS} dang bbby...
[10:13] {Threei}  15 cents drop in a blink of eye
[10:13] {Threei}  when the dam broken...
[10:14] {Threei}  let's see, maybe gives entry on bounce
[10:14] {RonS} had .96 short set for .98 print but missed looking at your x call
[10:14] {Threei}  I was looking right at it and missed too
[10:15] {Threei}  there was just no chance
[10:15] {Threei}  either you were in aggressively or you miss
[10:17] {ese} DO these guys have any education at all???????(US) Fed's Fisher: Fed may need to stop short on QE2 purchases; absolutely opposed to extend QE2 program; there is unpleasant data on the horizon
[10:17] {Threei}  X invaldated
[10:18] {ese} unpleasant DATA??????  what F does that mean
[10:18] {Threei}  ese, there is a better perl in there
[10:18] {Threei}  look:
[10:18] {Threei}  Fed must not appear to be monetizing debt
[10:18] {Threei}  this is a real puzzler, isn't it
[10:19] {ese} thats still a what f for me...........
[10:22] {Threei}  BBBY, you slime...
[10:23] {jfjf64} to nice
[10:26] {Threei}  CA) Canada PM Harper announces party platform goals for spending
[10:26] {Threei}  - Suggests a spending review that will save approx C$4B yearly, suggests C$6.6B in spending over 6 years which could increase deficit by C$1.4B
[10:26] {Threei}  - Sees surplus for Canada in 2014-2015, earlier than expected
[10:26] {Threei}  and no, our southern brethren, you can't have our prime minister
[10:29] {rambler} LUNA pops...on vol
[10:35] {Threei}  X works after all
[10:44] {Threei} Long Setup:  AMRN  .50 break
[10:44] {Threei}  look at daily
[10:45] {Threei}  if takes .60, 9 is all but inevitable
[10:45] {Threei}  rambler, your kind
[10:46] {Threei}  also, if you want to meet grandfather Lenin today, it's a short drive for you, come down to Esquimalt
[10:46] {patience} i'll pass, ty
[10:47] {nemo} look MON
[10:47] {rambler} I don't want to ruin a great day....
[10:47] {davd} mon down with corn report
[10:48] {Threei}  hey, just take a few rotten tomatoes with you and make it even better day
[10:49] {Threei}  ok, brief interruption before the next call:
[10:49] {Threei}
[10:49] {RonS} 2 sided slw play brewing 3i?
[10:50] {Threei}  I would really prefer a solid pullback for long entry on it
[10:50] {Threei}  around .70 at least
[10:56] {Threei} Long Setup:  POT  .20 break
[10:58] {RonS} cree blood ...again
[11:00] {nemo} eh, tried to catch fcx break of .90
[11:00] {Threei}  what now?
[11:04] {RonS} cree sm l .40
[11:05] {Threei}  feelsa like hard nosedive is coming
[11:06] {Threei} Short Setup: SLW  .80 break
[11:06] {Threei}  1:1
[11:06] {Threei}  half out
[11:07] {Threei}  scalpers be hasppy
[11:09] {Threei}  scalpers win
[11:09] {rambler} I winned....
[11:10] {Threei}  you do realize we all hate you, right?
[11:10] {Threei}  at least till the next trade
[11:13] {rambler} my ON hold  (that I sold)  is rocking.....
[11:13] {Threei} Short Setup: CREE  .40 break
[11:14] {rambler} SHZ
[11:16] {nemo} spy sitting on trend line
[11:16] {patience} doubled up with an umbrella trade in slw, just for a scalp,in at 44.79
[11:17] {Threei}  no go CREE
[11:17] {RonS} good thing...i am long...:)
[11:18] {Threei}  don't you worry, after rinsing shorts it will deal with longs {G}
[11:25] {RonS} out cree scratch...ha!
[11:25] {Threei}  told ya
[11:26] {RonS} to quote dino: "let the stops work"
[11:30] {Threei} Short Setup: SLW  .10 break
[11:30] {Threei}  if stays under .20
[11:31] {Threei}  aggressive entry for 47 break and tank, with 1:3 in mind, maybe more
[11:31] {rambler} are you full lots now Vad...?
[11:32] {Threei}  on this one, yes
[11:32] {Threei}  10 cents stop
[11:32] {Threei}  last one on CREE, no, a bit too thin
[11:33] {ese} L FTK .22
[11:33] {Threei}  Senate Minority Leader McConnell: Believes an agreement will be reached shortly
[11:36] {Threei}  so far so good
[11:36] {Threei}  1;1
[11:36] {Threei}  wouldn't budge with market spiking
[11:36] {Threei}  half out
[11:36] {Threei}  stop to above b/e
[11:39] {rambler} look out below.....
[11:39] {Threei}  1:2
[11:39] {Threei}  1/4 more out
[11:39] {Threei}  stop to .05
[11:39] {Threei}  we won't have to hate you this time, rambler?
[11:40] {rambler} jump on it...
[11:40] {Threei}  lol
[11:40] {Threei}  1:3
[11:40] {rambler} out at .80.....
[11:40] {Threei}  wtfg
[11:41] {rambler} tks Vad...
[11:41] {nemo} we likely put in the bottom for today
[11:41] {Threei}  yw
[11:41] {Threei}  precision of hitting the target...
[11:42] {nemo} might play it long here, on trendline slw that is
[11:42] {ese} out ftk .23 +.01
[11:42] {ese} hmmmmmmmm
[11:43] {Threei}  you need to watch out that spending spree ese...
[11:44] {rambler} swing trade GPL good today....
[11:47] {Threei}  28% Say They Share Obama's Political Views
[11:47] {Threei}  in line with that steady "28% think US moves in the right direction"
[11:48] {rambler} that's a good %......
[11:48] {Threei}  (US) Fed's Fisher: Inflationary pressures are not yet out of hand
[11:48] {Threei}  right... let's wait till they are, then act
[11:48] {nemo} cmon' move along, there's nothing to see here
[11:49] {Threei}  (PO) UK Fin Min Osborne: rules out bilateral loan to Portugal; IMF agreement should be in place before any EU money is committed to Portugal
[11:49] {nemo} reminds me, gotta' buy more bullets
[11:49] {Threei}  hmmm
[11:49] {Threei}  did I get it right?
[11:50] {Threei}  EU refuses to bail its member out unless IMF does?
[11:50] {nemo} [11:42] {nemo} might play it long here, on trendline slw that is
[11:51] {Threei}  (PO) Portugal Fin Min: No bridge loan will occur, it is too early to determine the interest rates to be paid on any EU loan
[11:51] {Threei}  good call
[11:51] {Threei}  pains me to say that, but evidence is there for all to see
[11:54] {nemo} broken clock moment
[11:54] {Threei}  still, painful {G}
[11:56] {rambler} bot IDT S 29.00  stop 28.90
[11:58] {rambler} just missed VHC...
[12:10] {rambler} bot AVL 9.75   stop 9.65
[12:13] {Threei} Short Setup: SLW  47 break
[12:14] {nemo} might think about tna long above .12
[12:14] {Threei}  so, what are our bets for the chances of government shutdown today?
[12:14] {rambler} 60/40
[12:14] {nemo} or IWM if too much volatility on tna
[12:15] {Threei}  seems to me from the rhetorics both sides ar confident they'll be able to put the blame on another
[12:15] {nemo} weird price action
[12:15] {Threei}  so I'll say 70/30
[12:16] {nemo} bet there's a huge market rally if it shuts down
[12:16] {Threei}  Dems: GOP Is Attacking Women's Health
[12:17] {Threei}  idiots
[12:17] {nemo} 1:1 tna
[12:17] {rambler} IDT running....
[12:17] {nemo} might stall at iwm .54
[12:18] {nemo} stop is .09
[12:18] {rambler} out IDT  ...+ .25
[12:22] {rambler} AVL stop to b/e...
[12:23] {nemo} scalpers win
[12:27] {rambler} IDT looking higher...
[12:28] {nemo} KLAC looking very sick
[12:33] {nemo} spy is just riding that trendline from yesterday morning
[12:33] {rambler} whats your read on IDT Vad...?
[12:34] {Threei}  hard to tell
[12:34] {Threei}  50/50
[12:35] {nemo} EXPE
[12:36] {rambler} I think I'ii wait for break 30 with Vol....then swing...
[12:36] {rambler} maybe...
[12:40] {nemo} EXPE think is long above 25 and short below .80, or play bounce of .80 and short at 25
[12:41] {nemo} then .50 might be bounce
[12:43] {Threei}  frikin CREE
[12:43] {Threei}  now it works
[12:44] {rambler} out AVL  +.12
[12:52] {rambler} CAAS looking short Vad....?
[12:52] {Threei}  thin one...
[12:52] {Threei}  11 break, maybe
[12:52] {Threei}  keep shares smallish
[12:55] {nemo} PAAS
[12:55] {nemo} interesting area
[12:55] {nemo} bounce or drop...need .50 area consolidation
[12:55] {nemo} maybe not
[13:04] {Threei}  Boehner on TV
[13:08] {Threei}  nothing yet
[13:09] {nemo} expe broke
[13:09] {rambler} bot CASS 11.20   stop 11.10
[13:11] {nemo} paas short here?
[13:12] {Threei}  no trigger that I see
[13:12] {rambler} CAAS stop to b/e...
[13:15] {Threei}  tea party guy from mempnis insists they want spending cut by, sit for this, 61B...
[13:16] {Threei}  color me unimpressed
[13:17] {rambler} Vad, please light fire under CASSes ass....
[13:18] {rambler} CAASes ass.....
[13:19] {patience} sold half position of slw +.58
[13:20] {patience} too funny, silver goes higher now
[13:21] {ese} Am outta here have a great weekend all
[13:21] {rambler} cya ese......
[13:21] {RonS} cya ese
[13:21] {Threei}  take care ese, have a good one
[13:22] {nemo} APA intersting
[13:24] {nemo} crissakes oil 112.33
[13:24] {rambler} out CAAS.....+.20....
[13:27] {Threei} Short Setup: GLD  .50 break
[13:27] {Threei}  if stays under .60
[13:30] {patience} gold and silver just jumped
[13:31] {patience} yup, should have held on my slw
[13:31] {nemo} I'm amazed how the market is digesting the rise in oil prices
[13:31] {rambler} same sad story here Patience....
[13:32] {nemo} yeah, looking at slw, there was no trendline break
[13:32] {Threei}  sad eh... cry me a river
[13:32] {rambler} where do I buy that crystal ball....
[13:32] {nemo} cry you a cesspool
[13:45] {Threei} Short Setup: RIMM  .70 break
[13:45] {Threei}  if stays under .80
[13:47] {Threei}  let's make it more aggressive
[13:48] {Threei}  .75 break
[13:48] {Threei}  same stop
[13:52] {Threei}  still valid, IMO
[13:53] {Threei}  stops is wider by just a cent or two
[14:05] {Threei}  SLW
[14:05] {Threei}  sharp turn
[14:07] {patience} damm, cancel the boob job and tummy tuck appointment
[14:07] {patience} sorry....just a bit bored
[14:07] {rambler} charge it...!!!!
[14:07] {patience} YES!!!!
[14:08] {rambler} just do it...put it on hubbies card...
[14:09] {patience} no hubby, i pay all the bills
[14:11] {rambler} o.k. Vad, the pressure all on you...dig something up....quick..
[14:12] {Threei}  save the boob job?
[14:13] {rambler} save it...!
[14:14] {Threei}  or free Willy?
[14:14] {Threei}  dilemma...
[14:14] {rambler} TZA popping...
[14:17] {Threei}  IMO, selloff into the eod
[14:18] {rambler} fricking TZA...why don't I ever buy that thing....?
[14:20] {rambler} must have a mental block about buying 'Bear Shares'....
[14:23] {RonS} oil 112.83
[14:24] {Threei}  do you have mental block about shorting?
[14:25] {rambler} nope...
[14:26] {Threei}  what's the problem with going long on inverse ETF then :)
[14:26] {rambler} I wish I
[14:26] {Threei}  (US) Sen Baucus (D-MT): Senate Democrats considering holding a separate vote on birth control funding to break Congressional budget deadlock
[14:26] {Threei}  it's easy
[14:26] {Threei}  enter the symbol,
[14:26] {Threei}  click the price,
[14:27] {Threei}  then gently push buy button
[14:27] {rambler} weird huh..
[14:27] {rambler} I'll get over it...
[14:28] {RonS} maybe he's Polish, and the Polish logic of going long a short gives him a short circuit
[14:28] {RonS} :)
[14:28] {rambler} just like the calculater...
[14:29] {RonS} ya, passed on those HP's...TI only...
[14:30] {rambler} those were the days....
[14:36] {RonS} naz breaking support
[14:45] {RonS} wow cree
[14:45] {rambler} more down....
[14:50] {patience} this feels like a fund margin i would know   :)
[14:51] {rambler} hypothetical TZA 'exit stage left area'....
[14:53] {nemo} iwm support at .70
[14:53] {Threei}  just exit in case of government shutdown
[14:53] {nemo} patience...with the government shutting down, and oil exploding who wants to be long
[14:54] {Threei}  right
[14:57] {Threei} Short Setup: X  .70 break
[14:58] {nemo} frickin buy programs
[14:59] {patience} yup, i'm not on margin, only holding slw at this point and its stabilizing....not alot of volume do this dump in price so i'm just watching it
[15:00] {nemo} cost short here?
[15:00] {Threei}  .30
[15:00] {nemo} yeah had an alert on it all day
[15:03] {rambler} more than a scalp Vad...?
[15:03] {Threei}  I think so
[15:03] {Threei}  but let's partial
[15:03] {Threei}  snapback can be vicious
[15:05] {nemo} we're getting a snap back
[15:06] {Threei}  just a low volume small bounce so far
[15:07] {patience} exactly
[15:07] {nemo} yeah, but how much volume it gonna take on a Friday
[15:09] {nemo} we scalped the bottom
[15:09] {Threei}  (PO) IMF confirms receipt of loan request from Portugal; will move forward quickly
[15:09] {Threei}  - Reminder: Earlier the EU's Rehn commented that there was the expectation for 2/3 of the bailout funds for Portugal to come from EU, and 1/3 from the IMF, will follow similar logic and structure of earlier packages
[15:10] {Threei}  George Soros: ECB"s rate hike this week was inappropriate - TV interview
[15:10] {Threei}  - Chinese inflation is a serious concern for the country, wage pressures may mount.
[15:10] {nemo} out cost
[15:13] {nemo} I see the problem, we went short with spy right at gap support
[15:14] {nemo} that will likely hold for the day
[15:14] {patience} ok, sold out another quarter of slw..will leave remainder  to ride over the weekend
[15:16] {nemo} I was so stupid...I said IWM support at .70 too
[15:23] {patience} nope, cashed out, have a great weekend guys
[15:23] {Threei}  have a good weekend
[15:24] {rambler} yup, have a good one....
[15:24] {Threei}  another bout of selling is coming, IMO
[15:35] {Threei}  nope... support held
[15:37] {Threei}  tiresome day... can't wait for Monday
[15:37] {Threei}  some of tension in the wir will resolve
[15:37] {Threei}  air too
[15:37] {nemo} be interesting which way it gaps
[15:38] {rambler} earnings reports good for scalp setups Vad...?
[15:39] {Threei}  right at the report time?
[15:39] {Threei}  good luck getting a fill
[15:47] {nemo} that's enough suffering for one week  c u Monday
[15:48] {Threei}  thank you all, jave a good weekend
[15:48] {Threei}  see you all on Monday
[15:48] {Threei}  with or withiout govrnment
[15:48] {rambler} thanks Vad, cya all.....