Monday, April 11, 2011

Apr 11 2011

Better day with a few nice winning trades on a short side, but still, wins and stops traded jabs for the most part of the day. Normal pattern when the market goes through a change.

Session Start: Mon Apr 11 01:19:36 2011

[08:55] {Threei}  BLTXX Baltic Dry Bulk index declines approx 1% (10th straight decline)- Index stands at 1,359.
[08:57] {Threei}  G20 to weigh currency reforms and consider rules for FX devaluation at this week's meeting
[08:57] {Threei}  - financial press citing German official- G20 will also weigh guidelines for drawing developing world currencies more fully into a global system dominated by the dollar, euro, yen and pound.
[08:57] {Threei}  - US and Japan do not have effective medium term strategy for budget consolidation
[08:57] {Threei}  **Reminder: G20 representatives to gather in Washington, D.C., for the spring meeting this week
[09:00] {Threei}  (GE) Geman Foreign Ministry: Germany opposes idea of a tax for financing the EU budget
[09:00] {Threei}  lol, really?
[09:12] {nemo} wow BIIB
[09:14] {Threei}  Phase III trial met endpoints
[09:14] {RonS} gm everyone
[09:14] {Threei}  Ron :)
[09:14] {larisa} gm :)
[09:14] {Threei}  larisa :)
[09:14] {larisa} vad :)
[09:17] {ese} morning
[09:17] {Threei}  ese :)
[09:18] {gen} gm all
[09:18] {Threei}  gen :)
[09:18] {ese} gen
[09:18] {ese} vad
[09:18] {gen} :)
[09:19] {rambler} goodmorning .....
[09:19] {Threei}  rambler :)
[09:19] {Threei}  is dino back tomorrow?
[09:21] {Threei}  only in Canada - election TV debate by party leaders has been bumped to another day by guess what? Hockey translation
[09:21] {Threei}  not TV translation of a debate, mind you - debate itself
[09:22] {larisa} Obama posponed his speach I think for Lost finale :)
[09:22] {ese} ya...somethings out of wack thats for sure vad
[09:22] {Threei}  really?
[09:22] {Threei}  well ese, at least that shows clearly where the priorities are, eh? :)
[09:23] {ese} boy does it
[09:24] {ese} when hockey starts to take the place of the actual well being of the has has to wonder what the H were doing here
[09:25] {Threei}  RIMM
[09:25] {Threei}  watching it as a short target
[09:26] {Threei}  SPY daily runs into resistance, and gap up today looks anemic
[09:27] {Threei}  so far, focusing on two possible shorts near the open
[09:27] {Threei}  RIMM
[09:27] {nemo} mcp ready to break again
[09:27] {Threei}  SLW
[09:27] {Threei}  RIMM speard is way too wide for now
[09:27] {Threei}  hopefully we get some consolidation on both before breakdown
[09:27] {RonS} mcp target raised at jpm $90
[09:29] {Threei}  if we get better spread on RIMM. 65 break looks like trigger
[09:29] {Threei}  let's keep things to halkf lot for now
[09:30] {Threei}  SLW is not clear yet
[09:30] {Threei}  could be a long on .20 break just as well
[09:30] {jfjf64} yello
[09:30] {Threei}  jf :)
[09:31] {Threei} Short Setup: RIMM  .75 break
[09:31] {Threei}  if stays under .85
[09:32] {Threei}  1:1
[09:32] {Threei}  1:2
[09:32] {jfjf64} niceeeeeeeeeeeeeeee
[09:32] {Threei}  missed SLW
[09:33] {Threei}  couldn't see clean trigger, too jerky
[09:33] {Threei}  switching to bounce hunt on it
[09:34] {Threei} Long Setup:  SLW  .50 break
[09:35] {ese} L klic .01
[09:35] {Threei}  nope, SLW'
[09:36] {patience} in hgd full lot (short etf)
[09:37] {ese} sm
[09:37] {Threei} Long Setup:  X  .20 break half lot
[09:38] {Threei}  stop under .10 for scalpers, .05 day traders
[09:38] {Threei}  traget .50
[09:40] {Threei}  someone unplugged the market
[09:41] {patience} short slw a bit ago....full lot....on the u.s. coffee makes you do interesting things
[09:42] {ese} out klic .95 -.06 it's goin nowhere
[09:43] {nemo} rinse X
[09:43] {Threei}  yeah
[09:44] {RonS} took x .21 to .48 thanks 3i
[09:44] {Threei}  :)
[09:46] {Threei} Long Setup:  RIMM  .80 break
[09:46] {nemo} too messy for me
[09:48] {Threei}  let's recalibrate it to .70 break
[09:48] {Threei}  if stays above .60
[09:49] {Threei}  1:1
[09:49] {nemo} in slw .31
[09:51] {nemo} 1/2 .51
[09:51] {Threei}  wtg
[09:51] {nemo} wanna know something else, I double tapped the out and went short by accident, picked up .10 on the down side
[09:52] {Threei}  yikes
[09:52] {RonS} ese, opinion on ne?
[09:53] {Threei} Short Setup: BIIB  .80 break half lot
[09:53] {RonS} NE
[09:53] {ese} hey ron sorry was about to ask patience her opinion on AUY
[09:54] {ese} I would have done it for a quick .05 hit if volume was right
[09:54] {nemo} why BIIB up anyway?
[09:55] {Threei}  [09:14] {Threei} Phase III trial met endpoints
[09:55] {Threei}  stop above 77, target is under .50
[09:56] {Threei}  thin one
[09:56] {rambler} bot IDT 30.25  stop 30.00
[09:56] {ese} L AVL .00
[09:56] {ese} 1/2
[09:59] {jfjf64} comon  biib
[09:59] {jfjf64} dieeeeeeeeeeeeeeeeeee
[10:01] {nemo} ree .61
[10:01] {Threei}  *IMF: Oy Vey
[10:02] {Threei}  1:1 BIIB
[10:02] {Threei}  half out
[10:02] {RonS} got biib .78 to .52  thanks 3i
[10:02] {Threei}  :)
[10:03] {Threei}  lose that .50
[10:03] {Threei}  and the bottom is nowhere to be seen
[10:03] {jfjf64} niceeeeeeeeeeee
[10:03] {Threei}  here we go
[10:03] {Threei}  1:2
[10:07] {Threei} Short Setup: RIMM  .40 break
[10:07] {jfjf64} you out biib
[10:07] {Threei}  if not going over .50 anymore
[10:07] {Threei}  hit target
[10:07] {Threei}  [09:55] {Threei} stop above 77, target is under .50
[10:08] {nemo} maybe reshort under .40 next short target would be around 78
[10:10] {Threei} Short Setup: SLW  .50 break
[10:12] {nemo} spy at daily and weekly pivot
[10:12] {Threei}  *IMF UPDATES WORLD ECONOMIC OUTLOOK: SEES 2011 WORLD ECONOMIC OUTPUT +4.4% v +5.0% y/y; 2012 +4.5%
[10:14] {rambler} stopped on IDT...good thing
[10:15] {Threei}  let's scratch SLW
[10:15] {Threei}  unlcear here
[10:16] {Threei}  come on RIMM, lose that .35 finally
[10:19] {Threei} Short Setup: X  .20 break
[10:20] {Threei}  stop above .30
[10:21] {Threei}  let's cover RIMM
[10:21] {nemo} wow MCP getting the redheaded stepchild treatment
[10:21] {Threei}  chart looks weird - price part is still good, volume is very strange
[10:22] {Threei}  chart looks weird - price part is still good, volume is very strangeX 1:1
[10:22] {Threei}  oops
[10:22] {Threei}  X 1:1
[10:22] {nemo} weird DOW still strong
[10:25] {nemo} cyh halted
[10:26] {Threei}  circuit breaker
[10:26] {Threei}  ugh... look SLW
[10:27] {rambler} check out  LLEN....ouch..!
[10:28] {Threei}  one of small chinese stocks, with all kinds of suspicions over the way they operate
[10:31] {nemo} IWM approaching Friday low
[10:32] {nemo} MCP coming in on a DB, think it might bounce around 60.90, worth a watch
[10:32] {nemo} 69.90 that is
[10:35] {jfjf64} cat  wow
[10:35] {Threei}  watching it too jf
[10:36] {Threei}  just can't make up my mind about market overall here
[10:36] {nemo} that may be it, IWM just touched it's Friday low and spy is back above pivot...and whaddya know it's 10:30
[10:36] {Threei}  nervous jumps both ways
[10:36] {jfjf64} jnj  dtop
[10:36] {jfjf64} ?
[10:38] {davd} jnj drop - i'm going out on a limb and guessing - recall?
[10:38] {davd} its a daily occurence - generally occurs the day after i buy it
[10:39] {Threei}  jf, looks so... can't see clean trigger though
[10:40] {davd} L apol 42.4 small
[10:44] {jfjf64} was wishing for pop  up   jnj
[10:45] {jfjf64} mon
[10:45] {jfjf64} dtop
[10:48] {Threei}  CYH hatled 5th time
[10:49] {nemo} I have mon support right here
[10:49] {Threei}  traders must be annoyed beyond comprehension
[10:49] {nemo} it's trading
[10:50] {nemo} CREE C&H Vad?
[10:50] {Threei}  (SP) IMF Official: Spain has taken big steps toward resolving its economic problems, housing prices have some way to go although banks will handle the situation well
[10:50] {Threei}  - Notes that so far bailouts have been very good deals for Greece and Ireland.
[10:50] {Threei}  CREE, worth a try
[10:51] {Threei}  those are brief hatlts
[10:54] {Threei}  inva;idated, CREE
[10:55] {ese} stop to 9.87 AVL
[11:00] {gregns} slw break of .40 ?
[11:00] {jfjf64} jnj  grrrrrrrrrrrrrrrrr
[11:00] {Threei}  not delighted greg...
[11:00] {nemo} jf?  when you get here?
[11:01] {Threei}  .50 break long looks better to me
[11:02] {gregns} ty
[11:02] {nemo} crissakes, summer trading already
[11:03] {patience} 3rd time shorting slw....let's see if i can make some decent money on this scalp
[11:04] {nemo} just read there's a 103 year old judge still hearing cases in a Wichita, Kansas federal
[11:05] {Threei}  hope he made up his mind on the whole slavery thing?
[11:07] {Threei}  1:1 greg
[11:07] {Threei}  looks capable of more than scalp to me
[11:08] {gregns} ypup, got it
[11:09] {Threei}  around .75 I'd be fully out
[11:10] {nemo} LVS interesting
[11:11] {nemo} vwap .12 though
[11:18] {Threei}  not bad LVS
[11:18] {Threei}  you were right
[11:25] {Threei}  Reports of an explosion at a subway station in Minsk, Belarus; some injuries reported
[11:35] {Threei}  scalpers win, SLW
[11:35] {ese} am outta here's pro D day at my school...cya tomorrow
[11:35] {Threei}  take care ese
[11:36] {Threei}  what's pro D?
[11:40] {rambler} 'professional development'...i.e. day off
[11:40] {Threei}  lol
[11:40] {rambler} usually a friday or a monday.....
[11:42] {Threei}  no one wants to dcevelop professionaly at their own free time, eh
[11:42] {RonS} aapl lod
[11:45] {Threei} Long Setup:  LVS  .20 break
[11:48] {Threei}  if loses .10, rather look fior entry near .44 for bounce
[11:58] {Threei}  44 cross long for a scalp, if SPE reverses
[11:58] {Threei}  SPY
[12:00] {nemo} jeez cstr
[12:00] {davd} oil lod re uso
[12:03] {Threei}  if SPY double-bottoms here, LVS should provide a scalp
[12:03] {Threei}  44 break, just a scalp
[12:04] {Threei}  if stays above .95
[12:06] {Threei}  SLW watch for short entry if bounces closer to .50
[12:06] {Threei}  LVS invalidated
[12:07] {nemo} btw, if you're interested in playing tza, if iwm breaks the lows, next support is at .10
[12:08] {nemo} check that, could be a stop at .27 on iwm
[12:09] {Threei}  no chance SLW, straight down
[12:16] {Threei}  (US) Fed Vice Chair Yellen: Easy money policies are still needed
[12:16] {Threei}  a sharp economic rebound in the US is unlikely
[12:17] {nemo} wow, you need to be an economist to figure that out...she must be blonde
[12:17] {gregns} SLW recross .10 if holding .00??
[12:17] {Threei}  lol
[12:17] {Threei}  no greg
[12:17] {Threei}  market is losing ground
[12:17] {dino} afternoon all
[12:17] {Threei}  chances to get caught in a selloff is greater than to catch a bounce
[12:17] {RonS} hi dino
[12:17] {Threei}  dino, welcome back
[12:17] {Threei}  how was the vacation?
[12:18] {dino} great
[12:18] {Threei}  I'd rather hunt for shnort on SLW
[12:18] {Threei}  look at GLD
[12:18] {dino} tdsc
[12:19] {dino} sm l .45 gappy
[12:20] {nemo} dino, how was your long weekend?
[12:20] {_furthers} test
[12:20] {Threei}  passed
[12:21] {Threei}  with flying colors
[12:21] {Threei}  hi furthers
[12:21] {dino} fun nemo
[12:21] {nemo} cool
[12:21] {Threei} Short Setup: SLW  .15 break
[12:21] {patience} i'm still in slw, double lot
[12:21] {Threei}  stop above .25
[12:22] {_furthers} hey
[12:22] {nemo} whaddya' want feathers?
[12:23] {_furthers} I am in the test mode
[12:23] {_furthers} just checking things out
[12:23] {RonS} so...if further beyond farther?
[12:23] {RonS} is
[12:23] {Threei}  - Commodity prices are being driven by global supply and demand issues. Does not expect high commodity prices to impair the economic recovery.
[12:23] {Threei}  - Loose Fed policy is still needed due to high levels of unemployment and low levels of inflation.
[12:23] {nemo} ahhhh....funeral supplies
[12:23] {_furthers} only when you say I DO!
[12:23] {_furthers} :-)
[12:24] {_furthers} back to business,,, RIMM
[12:24] {_furthers} short???
[12:24] {nemo} got anything written in the Mordor tongue?
[12:25] {Threei}  .30 break RIMM, yeah, worth a try
[12:25] {nemo} I'm seeing bottoming in the indexes
[12:26] {Threei}  could be
[12:26] {Threei}  hard to tell
[12:26] {Threei}  last 30-40 min bounces are met with sharp selling
[12:27] {RonS} but now dino is here...
[12:27] {dino} ensg
[12:27] {_furthers} every day last week market started up and ended down
[12:30] {nemo} SPY has weekly pivot at .04 and daily at .05, vwap is .12 and descending
[12:34] {Threei} Short Setup: FCX  .60 half lot
[12:34] {Threei}  if stays under .75
[12:35] {Threei} Short Setup: X  .20 break
[12:35] {Threei}  if stays under .30
[12:38] {Threei}  let's roll over and die, market
[12:38] {Threei}  this is what you set up to do
[12:38] {jfjf64} yes
[12:38] {Threei}  just do it
[12:39] {Threei}  good boy
[12:39] {Threei}  X 1:1
[12:39] {Threei}  FCX 1:1
[12:40] {Threei}  hmmm
[12:40] {Threei}  is SPY boy or girl?
[12:41] {Threei}  no news for this selloff
[12:41] {Threei}  non that I see anyway
[12:41] {Threei}  FCX almnost 1:2
[12:41] {Threei}  feel free to cover
[12:41] {Threei}  X 1:2
[12:41] {Threei}  out
[12:42] {Threei}  out FCX too
[12:42] {dino} tdsc stoppeed
[12:42] {jfjf64} ty
[12:42] {Threei}  yw
[12:42] {Threei}  day looks much brighter
[12:42] {patience} "smart money" commercial hedgers getting suddenly a fair bit more bearish in their net futures and options positioning as a percentage of the total open interest
[12:42] {RonS} got fcx s .58 to .28 thanks 3i
[12:42] {Threei}  :)
[12:42] {patience} they moved from positions in precious metals to cash
[12:44] {Threei}  sizeable bounce... cover was timelyt
[12:45] {Threei}  friking SLW
[12:45] {Threei}  this one got away
[12:45] {Threei}  by just a few cents
[12:45] {patience} sold half slw
[12:46] {RonS} wassup w/ the .vix?  down w/ market?
[12:46] {dino} ensg sm l .65
[12:46] {Threei}  lol Ron
[12:46] {Threei}  weird eh
[12:47] {RonS} very
[12:54] {nemo} mon interesting volume right here
[12:55] {patience} out of slw, watch for a bounce, get back in later
[12:59] {Threei}  SPY, db or breakdown
[12:59] {Threei}  my bet is breakdown
[12:59] {Threei} Short Setup: X  52 break
[13:00] {Threei}  .05 is closest resistance...
[13:00] {Threei}  looks a bit too tight for a stop though
[13:01] {Threei}  ugh... what is it with me and SLW today, missed again... thought of .60 short trigger
[13:02] {Threei}  let's keep X stop .06
[13:04] {Threei}  (US) Fed's Yellen: Does not expect any significant market reaction to the end of QE2 buying in June - Q&A
[13:04] {Threei}  - Fed bond sales may pressure markets, Fed will need to gradually sell off its holdings at a predictable pace.
[13:04] {Threei}  - Value of the USD influences commodity prices.
[13:04] {Threei}  - Unemployment rate has fallen by a surprising amount.
[13:05] {Threei}  Value of the USD influences commodity prices.
[13:05] {Threei}  you don't say
[13:05] {Threei}  yet same Fed speaker said a few min earlier:
[13:05] {Threei}  - Commodity prices are being driven by global supply and demand issues
[13:05] {Threei}  sigh
[13:06] {Threei}  - Fed bond sales may pressure markets, Fed will need to gradually sell off its holdings at a predictable pace.
[13:07] {RonS} who books that loss?
[13:07] {Threei}  good question
[13:07] {Threei}  increasingly seems to me, Fed has peinted themselves in the corner
[13:08] {nemo} No...they've painted us into a corner
[13:08] {Threei}  and unless they find some surprizing way to unwind the whole thing, it may very well be the end of Fed
[13:08] {Threei}  dunno nemo... this time they went too far to surive it seems
[13:09] {Threei}  we are screwed either way, no question about that
[13:09] {Threei}  but every time before we were the only ones... this time they may sink with us
[13:10] {Threei}  have a look at this
[13:10] {Threei}  no go X
[13:10] {Threei}  "Federal Reserve has already pushed its balance sheet to a point where it is leveraged 50-to-1 against its capital ($2.65 trillion / $52.6 billion in capital as reported the Fed's consolidated balance sheet ). This is a greater leverage ratio than Bear Stearns or Fannie Mae, with similar interest rate risk but less default risk.
[13:10] {Threei}  The Fed holds roughly $1.3 trillion in Treasury debt, $937 billion in mortgage securities by Fannie and Freddie, $132 billion of direct obligations of Fannie, Freddie and the FHLB, and nearly $80 billion in TIPS and T-bills. The maturity distribution of these assets works out to an average duration of about 6 years, which implies that the Fed would lose roughly 6% in value for every 100 basis points higher in long-term interest rates.
[13:10] {Threei}  Given that the Fed only holds 2% in capital against these assets, a 35-basis point increase in long-term yields would effectively wipe out the Fed's capital."
[13:12] {nemo} BOHICA!
[13:13] {RonS} but can't they hold them to maturity and let them roll off?
[13:13] {nemo} not if the underlying instruments default
[13:14] {Threei}  with rising rates, interest will become a problem quickly I assume
[13:14] {nemo} that'll drive the yields up
[13:14] {Threei}  plus what nemo said
[13:15] {RonS} oil softening now 110.38
[13:15] {dino} i see rinses are still occurring, tdsc
[13:16] {davd} i subscribe to art cashen statement "no point betting on the end of the world - it only happens once and if you are right the money you make isnt worth anything anyway"
[13:16] {Threei}  lol
[13:17] {RonS} Lew Reed
[13:17] {RonS} Lou
[13:17] {RonS} "send lawyers, guns and money"
[13:18] {nemo} that would be lawyers, guns and Federal Reserve brand Charmin...60 grit
[13:19] {RonS} oil 110.12
[13:20] {RonS} setting up to print an outside reversal
[13:21] {Threei}  wow
[13:21] {Threei}  sharp drop oil
[13:21] {davd} vix hod RonS :D
[13:21] {RonS} ya but it should be over 18
[13:22] {Threei}  Nissan Motor Co Ltd Customers in US and Japan have indicated electic Leaf vehicles sometimes fail to start - Nikkei News
[13:22] {RonS} rotflol
[13:22] {Threei}  Nissan: plug it in dummies, don't try to pour gasolin the battery!
[13:23] {Threei}  Dummies: oops...
[13:24] {RonS} dummies: but my power comes from the shuttered nuclear plant
[13:24] {Threei}  Nissan: you wanted electric - you got electric. Want a coal? we can provide that too
[13:25] {RonS} dummies:  i can fix it w/ my portable generator...
[13:25] {Threei}  shovel comes as a free gift
[13:25] {davd} they think they are better than us gas guzzlers. :(
[13:25] {Threei}  dummies? of course
[13:26] {Threei}  they think they are better than anyone else, as long as they paint their forehead green
[13:27] {RonS} once my dad bought my mom a coal shovel for birthday gift
[13:27] {dino} lol
[13:27] {RonS} as endearment he carved her name in the handle
[13:27] {RonS} they are coming up on 60th anniversary
[13:27] {nemo} is there an imprint of his head on it?
[13:28] {Threei}  forgive me for asking but... did it end in an extended hospital stay or funeral?
[13:28] {dino} lol
[13:29] {Threei}  the best gift idea I ever came up with was to cancel that kitchen garburator...
[13:32] {RonS} oil bounced off 109.60 and putting on a run
[13:34] {RonS} 3i...this from GS...
[13:34] {Threei}  SLW
[13:34] {Threei}  another sharp drop
[13:34] {RonS} We are closing our CCCP basket trade, first recommended on December 1, 2010, for a gain of roughly 25% against our 28% target. This recommendation was premised on our belief that Crude Oil, Copper, Cotton/Soybeans and Platinum remain the key structurally supply-constrained markets. On a 12-month horizon we believe the CCCP basket still has upside potential, b
[13:35] {RonS}  but the unrest in the Middle-East and North Africa region, and the potential for further supply shocks pushed the basket up significantly in a short period and our Commodity Research team believes that in the near term the risk/reward no longer favours being long the basket and consequently, we are closing the recommendation with good potential gains. While
[13:35] {Threei}  think this is what kills materials today?
[13:35] {RonS} While crude oil, cotton and copper prices have substantially exceeded our targets, platinum and soybean prices have lagged.
[13:36] {RonS} i thought u would like the CCCP moniker
[13:36] {Threei}  ahhh
[13:36] {Threei}  lol
[13:39] {Threei}  Community Health Systems Inc Tenet allegations are without any merit and baseless - CNBC-designed to distract Tenet shareholders from CYH's takeover offer
[13:39] {Threei}  CYH
[13:40] {RonS} worked today...
[13:40] {nemo} and still is
[13:42] {nemo} It might be bounce time for slw in the .60 to .79 range
[13:42] {nemo} .70
[13:42] {patience} totally
[13:43] {nemo} wonder if wine will clear up a stuffy nose
[13:44] {Threei}  nice bounce CYH
[13:44] {RonS} only if you snort it
[13:44] {patience} put it in  a netti pot
[13:44] {nemo} Yeah...peruvian chardonnay
[13:45] {dino} just drink some whiskey
[13:45] {RonS} took a
[13:45] {nemo} DT LVS?
[13:45] {Threei}  feels to me like long on 44 reak rather
[13:45] {nemo} yeah, the good old days I'll be glad to never see again
[13:47] {nemo} slw at trend and horizontal resistance
[13:47] {patience} haven't seen stoch turn yet
[13:47] {nemo} on what time frame?
[13:48] {nemo} you've got increasing volume here
[13:48] {patience} yup
[13:49] {dino} out esng .96, +.31
[13:50] {patience} watching hourly and 30 min nemo
[13:51] {nemo} ahhh, I'm watching 1 and 3
[13:51] {patience} in, but feels sloppy still
[13:52] {nemo} indexes haven't made up their minds
[13:57] {nemo} doesn't look so sloppy now
[13:57] {nemo} stop around .25 I would think
[13:57] {patience} i'm up .16 cents
[13:58] {nemo} oh
[13:58] {patience} was
[14:04] {dino} giddy-up tdsc
[14:04] {nemo} slw pennant
[14:05] {Threei}  anyone scalped LVS?
[14:05] {Threei}  44 break, hit 1:1
[14:06] {patience} nemo, what does that mean
[14:06] {nemo} it's about to decide, pennant formation usually means imminent break one way or another
[14:07] {RonS} ran tdsc from 49.45 to 50.40  thanks dino
[14:07] {nemo} has pivot support at .33
[14:07] {Threei}  LVS continues
[14:07] {dino} out tdsc .45, +.94
[14:07] {Threei}  wtg dino
[14:07] {dino} gj ron, i took the .51 break
[14:07] {patience} ty
[14:07] {patience} lovely dino
[14:08] {dino} ty
[14:08] {Threei}  market finally found the bottom, but I wouldn't call it a confident bouncer
[14:08] {dino} must be the tan helping me
[14:08] {Threei}  sellers are waiting rifght around the corner
[14:13] {nemo} cyh interesting here
[14:14] {nemo} jumped my bid at .52
[14:17] {nemo} 1/2 out .63
[14:17] {dino} wow 51 tdsc
[14:19] {patience} out with 25 bucks, market in tsx feels down
[14:20] {nemo} spy to 133.05
[14:20] {nemo} iwm around .75
[14:22] {nemo} 1/4 more .75
[14:22] {nemo} cyh
[14:23] {nemo} wtf bidu
[14:23] {Threei}  Facebook
[14:23] {Threei}  denying report about deal
[14:24] {dino} sina
[14:24] {RonS} lol...Zuckerberg selling to the Chinese would be the best deal since Mark Cuban sold his company for a $1 bi
[14:24] {nemo} stop at b/e cyh
[14:25] {RonS} re-patriate some $
[14:26] {RonS} or maybe he wold insist on yuan...
[14:26] {RonS} would
[14:27] {nemo} out last 1/4 cyh
[14:29] {Threei} Long Setup:  SLW  .05
[14:31] {Threei}  invalidated but not off radar
[14:32] {Threei} Long Setup:  SLW  .95 break
[14:32] {Threei}  if holding .85
[14:33] {Threei}  target is about 45.20
[14:34] {Threei}  invalidated
[14:35] {Threei}  those sellers from around the corner are here
[14:36] {Threei}  Earlier this morning there were reports in the Chinese press that Baidu had struck a deal with Facebook to launch a social media site in China. Note that Facebook CEO Zuckerberg met with Baidu execs during a trip to China last year.
[14:36] {davd} gold lod re gld
[14:37] {Threei}  China turned into gigantic rumor mill, with millin scalpers at each location, spreadi rumors and pushing buttons
[14:38] {nemo} .50 bid slw
[14:39] {Threei} Long Setup:  SLW  .60 break
[14:40] {Threei}  just a scalp most likely
[14:42] {davd} oil sitting at lod re uso
[14:42] {nemo} if that .50 drops, look out
[14:42] {Threei}  and SPY is testing support
[14:42] {nemo} maalox trade
[14:43] {Threei}  yeah, not holding
[14:44] {nemo} frankly, thought it would drop faster, but indexes holding
[14:45] {davd} uso now at lod
[14:45] {nemo} if, Libya truce holds, that will start dropping consistently
[14:45] {nemo} imo of course
[14:46] {davd} so my earnings are linked to khadaffi?
[14:46] {Threei}  lol
[14:46] {nemo} gettomg a supoort level in slw
[14:46] {nemo} not any more
[14:51] {rambler} MELA pops on vol...
[14:52] {dino} efii
[14:52] {davd} gld gap to 142?
[14:57] {davd} tza hod
[14:59] {nemo} spy nearing Friday low
[14:59] {RonS} snagged ensg from 30.98 to 31.45  thanks dino
[15:00] {Threei}  last hour... bounce or selloff
[15:00] {davd} bounce, mf inflows
[15:00] {davd} imo
[15:00] {Threei}  mf?
[15:00] {RonS} fute order flows say down
[15:01] {Threei}  my gut feeling is selloff
[15:01] {Threei}  but davd called me a mf...
[15:01] {RonS} hehe
[15:02] {davd} mf - mutual funds - what i should have stuck with 20 years ago
[15:02] {nemo} what's your mother look like...not necessarily a bad thing, ask Oedipus
[15:02] {davd} lol
[15:02] {Threei}  anyway,
[15:02] {Threei} Short Setup: GLD  .45
[15:03] {Threei}  if stays under .55
[15:04] {Threei}  1:1
[15:05] {RonS} big buyer just came into SP futes
[15:05] {nemo} you have weekly and daily support at .12 on spy
[15:05] {RonS} sometimes they get overwhelmed by selling but the price they show up is usually the close...or higher
[15:06] {gen} bye everybody
[15:06] {patience} tsx down 242
[15:06] {gen} :)
[15:06] {Threei}  take care gen
[15:06] {patience} i'm in hgd (gold short)
[15:06] {patience} slow as molassas
[15:07] {Threei}  SLW continues down
[15:13] {Threei}  gut was right
[15:14] {Threei}  wow, been a good while since we've seen silver getting smakced like this
[15:18] {RonS} emc green on day
[15:24] {Threei} Short Setup: SLW  .10 break
[15:25] {Threei}  invalidated
[15:26] {Threei}  .20 was entry eh
[15:26] {Threei}  lol
[15:28] {Threei}  low volume bounce
[15:28] {Threei}  let's see if it's a double top
[15:29] {nemo} watch gold
[15:29] {nemo} wow MCP catching bids
[15:30] {Threei}  MCP bounced enough to become a short
[15:31] {Threei}  either .80 break
[15:31] {nemo} 71.18 is vwap
[15:31] {Threei}  or, it goes above 71, next range breakdown
[15:32] {nemo} yeah, baby
[15:33] {Threei}  71 break
[15:33] {Threei}  sdmall shares
[15:33] {Threei}  invalidated
[15:34] {Threei}  .20 break
[15:35] {Threei}  late
[15:35] {Threei}  again
[15:35] {Threei}  same setup
[15:35] {Threei}  if stays under .40
[15:36] {nemo} vwap might act as a magnet
[15:36] {jfjf64} dieeeeeeeeeeeeeeee
[15:36] {nemo} meany
[15:36] {Threei}  no go
[15:37] {Threei} Short Setup: SLW  44 break
[15:37] {Threei}  EG) Egpyt PM issues apology for the crackdown on protesters that occured Saturday, claims an investigation will be launched - world press
[15:37] {Threei}  new boss eh
[15:40] {jfjf64} dieeeeeeeeeeeee
[15:40] {Threei}  lol
[15:40] {Threei}  jf, you are scaring them
[15:40] {Threei}  they drop until you scream at tghem
[15:41] {nemo} slw may now be a long above .01
[15:42] {nemo} yeah, but sometimes they jump when you scare them...cut the achilles, can't go anywhere and they scream like a banshee
[15:43] {jfjf64} yes
[15:44] {nemo} like MCP short .49?
[15:44] {nemo} probably won't hold, but
[15:44] {Threei}  I do
[15:45] {nemo} I must be sick, gotta' take my temp
[15:45] {Threei}  let's scratch SLW
[15:45] {nemo} slw
[15:45] {Threei}  can't tell which way SPY is leaning anymore
[15:46] {jfjf64} comon  slw
[15:46] {Threei}  1:1 if you kept it
[15:46] {jfjf64} dieeeeeeeeeeeeeeeee
[15:47] {Threei}  MCP
[15:47] {Threei}  almost ready
[15:47] {nemo} frickin' tease
[15:47] {jfjf64} in
[15:48] {nemo} indexes aren't cooperationg
[15:49] {jfjf64} look  time
[15:50] {Threei}  yeah
[15:50] {jfjf64} hate mcp
[15:50] {Threei}  nothing stellar but a better day than last week's end
[15:50] {jfjf64} all good
[15:50] {jfjf64} ty
[15:51] {Threei}  a few easier to read trades
[15:51] {Threei}  a bit more stops than I would have liked
[15:51] {patience} was a good day vad, had to work for it though
[15:51] {Threei}  but that's the pattern we go through every time market changes
[15:51] {jfjf64} always
[15:52] {jfjf64} good nightv all
[15:52] {Threei}  important to keep shares reasonable while we work through it and find what stopped working and what came instead
[15:52] {Threei}  take care jf
[15:54] {nemo} mmhhhh, mcp overnight
[15:54] {Threei}  make sure you sleep in diapers
[15:54] {Threei}  and with two bottles of maalox on nightstand
[15:55] {Threei}  ok guys, thank you asll
[15:55] {Threei}  have a good evening
[15:55] {patience} ty
[15:55] {Threei}  see you tomorrow
[15:56] {dino} gm all
[15:56] {larisa} bye :)
[15:58] {rambler} thanks Vad....
[15:58] {davd} imo not mcp overnite