Thursday, April 14, 2011

Apr 14 2011

Very boring day, positive but sprinkled with a lot of opportunities that never materialized, via invalidation or rinse. Particularly, intended shorts on RIMM and X that worked later on as charm for what was planned as "milk trade."

Session Time: Thu Apr 14 00:00:00 2011
[08:30] {Threei}  *(US) INITIAL JOBLESS CLAIMS: 412K V 380KE; CONTINUING CLAIMS:3.68M V 3.705ME
[08:31] {Threei}  (US) MAR PRODUCER PRICE INDEX M/M: 0.7% V 1.0%E; PPI EX FOOD & ENERGY M/M: 0.3% V 0.2%E- PPI Y/Y: 5.8% v 6.1%e - PPI Ex Food & Energy Y/Y: 1.9% v 1.9%e
[08:48] {RonS} gm...ha! snow here...
[08:49] {Threei}  wow
[08:59] {rambler} morning...
[09:00] {Threei}  rambler :)
[09:02] {dino} gm all
[09:03] {gen} gm all
[09:03] {Threei}  dino, gen :)
[09:03] {gen} :)
[09:08] {dino} credit suisse, raises adtn target to 39, real value added as its at 41
[09:09] {Threei}  lol
[09:16] {ese} morning
[09:17] {Threei}  ese :)
[09:18] {larisa} gm :)
[09:18] {Threei}  larisa :)
[09:18] {larisa} vad :)
[09:21] {Threei}  clashes between anti- and pro-Gadhafi protesters, where do you think?
[09:21] {Threei}  in Egypt - as if they have no problems on their own
[09:22] {Threei}  X... hangs just over significant support area with ominous look
[09:25] {Threei}  .15 is support to break to trigger short, and then 50 is last line in the sand... afetr that it's down with no support in sight anywhere
[09:25] {Threei}  hopefully forms clean resistance for decent stop placement
[09:28] {Threei}  RIMM, 54 is yesterday's low
[09:28] {nemo} support 49.05
[09:28] {nemo} we'll probably hit intermediate pivot levels
[09:29] {Threei}  nothing clear on SLW so far
[09:29] {patience} good morning, could you just off opening the market until i have a coffee
[09:29] {Threei}  yes but only within next minute
[09:30] {Threei} Short Setup: RIMM  54 break half lot
[09:30] {Threei}  stop above .15
[09:31] {Threei}  1:1
[09:31] {Threei} Short Setup: X  .20 break
[09:32] {Threei}  invalidated
[09:32] {nemo} nope
[09:32] {larisa} you were lucky by 1 cent on X :)
[09:34] {Threei}  out RIMM in full
[09:34] {Threei}  .77
[09:34] {rambler} disnat wouldn't take my RIMM short....
[09:34] {jfjf64} mornin
[09:34] {Threei}  jf :)
[09:35] {Threei}  1:2
[09:35] {gen} out RIMM .79 thanks
[09:35] {Threei}  OK, X makes me eager to try ,y luck once again :)
[09:35] {Threei} Short Setup: X  .75 break
[09:35] {Threei}  half lot
[09:35] {Threei}  if stays under .85
[09:36] {Threei}  invalidated but getting closer to reversal
[09:37] {Threei}  grrr, .80 was it
[09:40] {jfjf64} hog  bounce
[09:41] {Threei} Short Setup: SLW  .60 break
[09:41] {Threei}  stop above .70
[09:42] {Threei}  no go
[09:42] {RonS} fcx strength
[09:42] {dino}  fwiw gaps, 12,086 dji, 1279 s/p, 2270 ndx
[09:42] {Threei} Short Setup: CAT  .55 break
[09:42] {Threei}  half lot
[09:43] {Threei}  1:1
[09:43] {ese} in and out STX .94 .06 +.12
[09:43] {Threei}  1:2
[09:43] {Threei}  out
[09:44] {jfjf64} hog .15 long  hold 41
[09:44] {Threei}  1:3 CAT for more patient types
[09:45] {dino} gj
[09:45] {Threei}  ty
[09:45] {Threei}  SLW...
[09:45] {Threei}  you must be topping out...
[09:46] {Threei}  not clear yet
[09:47] {jfjf64} hog .01
[09:48] {rambler} LULU  down a buck
[09:49] {Threei}  rimm
[09:49] {Threei}  holding surprizingly well here
[09:49] {jfjf64} grr  hog
[09:49] {jfjf64} rat
[09:49] {nemo} don't look at cat
[09:49] {Threei}  well, this mareket sharp drop came out of nowhere
[09:50] {jfjf64} wow
[09:50] {Threei}  so, looking what handles it well
[09:50] {Threei}  and RIMM seems to be it
[09:50] {Threei} Long Setup:  RIMM  .60 brteak
[09:50] {dino} svu
[09:50] {Threei}  half lot still
[09:51] {dino} fcx, msb, ferts all fine
[09:51] {Threei}  don't see any news for this market spike down
[09:52] {Threei}  (GR) German Official: Recent interview with the German Fin Min should not be interpreted as a change in the position regarding Greece*
[09:52] {Threei}  **Note that last night during an interview with Die Welt, German Finance Minister Schaeuble held out the possibility that a June audit might show that Greece will not be able to overcome its debt load without relief. Schaeuble said "other steps" might need to be taken.
[09:52] {Threei}  other steps?
[09:53] {Threei}  ig I were Greece, I'd say OK folks, I am out of all this crap
[09:53] {dino} default is only way out for them
[09:53] {Threei}  RIMM 1:1
[09:53] {dino} sm l svu .05
[09:54] {patience} bought (natural gas etf bear) for a swing trade
[09:54] {RonS} got rimm .60 to .78  thanks 3i
[09:54] {Threei}  :)
[09:55] {Threei}  1:2
[09:55] {rambler} out tks Vad....
[09:55] {Threei}  yw
[09:56] {Threei}  frikin SLW
[09:56] {Threei}  general idea was there but nnever formed precise setup
[09:57] {nemo} mcp looks weak
[09:57] {nemo} cree looks long
[09:58] {jfjf64} watchin nemo
[09:59] {Threei}  really CREE?...
[09:59] {Threei}  I rather view it as short .20 break
[09:59] {dino} lps sm l .99
[09:59] {nemo} well wrong on MCP
[09:59] {Threei}  or even .30 if consolidates here for a min more
[10:00] {jfjf64} what ya thinkin nemo
[10:00] {jfjf64} lol
[10:00] {nemo} not now
[10:01] {jfjf64} 3i killed  our thoughts
[10:01] {Threei}  sorry
[10:01] {jfjf64} lol
[10:01] {Threei}  I am known for thoughts-killing
[10:01] {Threei}  mostly with hard liqour
[10:01] {Threei}  few brain cells survive massive scotch attack
[10:02] {nemo} I should kill myself...was thinking YOKU back on 59 break, but the spread was a bitch
[10:02] {RonS} hearing x takeover chatter...which apparently happens monthly
[10:02] {nemo} well cree hasn't quite made a liar out of me yet
[10:03] {jfjf64} gld  d/top
[10:03] {jfjf64} ?
[10:03] {RonS} quote from john lennon nemo?
[10:04] {Threei}  no jf
[10:04] {RonS} look x
[10:04] {nemo} what about John
[10:04] {nemo} ?
[10:04] {RonS} yoku spread...
[10:04] {nemo} nice
[10:05] {nemo} did he say she was a bitch?
[10:05] {Threei}  Ron, that's nothing - leader of Liberal party in Canada actually quoted Mao during TV debate
[10:05] {RonS} x squeeze on
[10:06] {dino} ipi sm l .30\
[10:07] {nemo} watch DT X
[10:07] {RonS} interesting hgsi reversing resistance break at $30
[10:07] {Threei}  SLW, something is very off with it today, can't get a grip on it
[10:09] {dino} it's going up
[10:09] {Threei}  you don't say
[10:09] {nemo} yeah, you're so used to shorting it
[10:10] {dino} don't overthink
[10:10] {dino} tdsc sm l .20
[10:14] {Threei}  dino... me? it took me THIS long to decode your two-words-long sentence...
[10:14] {Threei}  and heavy usage of dictionary
[10:15] {dino} lol, but metals are up, simple as that
[10:16] {dino} stop tdsc -.36
[10:19] {dino} ferts going green, ipi, mos, mon
[10:19] {Threei}  .short rimm .55 break
[10:19] {Threei} Short Setup: RIMM  .55 break
[10:19] {RonS} tgt ipi?  thinkin .78
[10:20] {dino} at least imo
[10:20] {Threei}  if stays under .65 obviously
[10:21] {Threei}  not a scalp this one
[10:21] {Threei}  will try to milk trade
[10:22] {Threei}  (SP) Spain govt spokesman: Earlier reports that China's CIC was willing to invest over 9B in Spanish financial sector were mistaken; no firm figure has been agreed to - update
[10:22] {Threei}  ***On April 13th, Spanish press reports suggested that the Chinese were willing to invest up to over 9B in Spain, also in the financial sector. On April 12th, Spain PM Zapatero reiterated that China will continue to buy Spanish debt. Prior reports suggested that China holds about 25B in Spanish sovereign debt.
[10:25] {rambler} Vad, turn on gravity machine.....
[10:26] {Threei}  gravity?... sorry, I don't believe in gravity
[10:26] {Threei}  don't sell me that "Earth is round" crap...
[10:26] {rambler} you are a true contrarian...
[10:27] {Threei}  everyone knows Earth lays on back of three elephants who stand on the turtle who is supported by whales...
[10:27] {Threei}  no go RIMM
[10:28] {Threei}  market is bipolar today
[10:28] {Threei}  sharp drop, sharp spike, all without any news
[10:30] {davd} cath zeta jones is bi-polar - not a laughing matter;)
[10:32] {dino} turtle of amazing girth upon his back he carries the earth, just ask the breakers in king
[10:32] {dino} 07 all green
[10:32] {dino} tdsc my first rinse today
[10:32] {dino} gut says open gap fill and back down
[10:32] {dino} mad cow here, denny crane
[10:33] {dino} ipi hod
[10:33] {ese} L GME .03
[10:35] {ese} out GME .19 +.16
[10:35] {ese} that was a nice 2k hit
[10:35] {dino} sweet
[10:35] {ese} tks
[10:35] {Threei}  RIMM rinse... grrr
[10:36] {nemo} oy vay yoku
[10:37] {ese} ya have missed out on that one at least twice
[10:37] {Threei}  crap... now it drops
[10:38] {ese} JBHT is another one nemo
[10:43] {dino} gmcr drop
[10:46] {ese} L shaw .02
[10:46] {dino} tdsc sm l .98
[10:55] {ese} out SHAW .02 +.00
[10:58] {ese} L CHRW .50
[10:59] {Threei} Short Setup: X  .75 break
[10:59] {jfjf64} rimm watch  also
[10:59] {jfjf64} ?
[11:00] {Threei}  tough read RIMM
[11:00] {Threei}  X invalidated but not off radar
[11:01] {Threei}  if returns in the range and consolidates again, will be interested
[11:07] {dino} out svu .35, +.30
[11:10] {ese} hmmmmmmm....thought tha chrw might have had enough to get to 76.00 but i don't know....
[11:10] {Threei}  Just 9% Say A Balanced Budget Is Very Likely In Their Lifetimes
[11:11] {jfjf64} x
[11:13] {jfjf64} ? aggresive here
[11:13] {Threei}  my emotional inclination is yes
[11:14] {Threei}  life goes out of RIMM
[11:26] {ese} chrw stopped .21 -.29
[11:31] {Threei}  look at RIMM
[11:31] {Threei}  doing what was planned for it
[11:31] {Threei}  sometimes it's so tempting to abandon discipline
[11:34] {dino} mos sm l .75
[11:34] {dino} stop is .59
[11:36] {Threei}  nothing like being rinsed out of milk trade, eh
[11:37] {dino} mos stopped
[11:44] {nemo} SLW db
[11:52] {Threei}  (US) House Speaker Boehner (R-OH): Legislation to increase the debt limit that does not include further spending reforms will not pass the House of Reps- The FY11 spending cut deal will likely pass the House today with bipartisan support.
[11:52] {nemo} OP EX week?
[11:52] {dino} yes
[11:53] {Threei}  yeah
[11:53] {nemo} that might explain this week
[11:54] {nemo} MCP here Dino?
[11:55] {dino} dk, i don't get mcp
[11:55] {nemo} APC interesting
[11:57] {patience} .
[12:01] {dino} hrbn spike
[12:02] {dino} mos sm l .50 break
[12:05] {dino} rally
[12:08] {nemo} mos was gonna say a short
[12:09] {dino} you were right
[12:09] {nemo} think just this scalp though
[12:09] {nemo} although, S2 support at 75.05
[12:15] {RonS} lps dino
[12:15] {dino} watching it
[12:19] {dino} confusing day. markets coming back but things i watch keep dropping
[12:22] {dino} lps sm l .25
[12:27] {patience} looking at TM (toyota)  and HMC (Honda) and othe japanese plays for longer term account
[12:34] {dino} lps stopped
[12:36] {Threei}  (GE) Germany Dep Fin Min Asmussen: G20 Making progress on currency system reform; have reached consensus but need to move carefully
[12:36] {Threei}  - Adding CNY to the IMF currency basket will come with a pricetag.
[12:36] {Threei}  - It will take some time to get certain currencies on the right path for joining the IMF SDR basket.
[12:41] {Threei}  watching RIMM pullback to 53 support
[12:41] {Threei}  for long entry
[12:47] {Threei} Short Setup: USO  .15
[12:47] {Threei}  (SP) Bank of Spain: Approves recapitalization plans for 13 caja savings banks; nine banks may need state funds- Approves 2.8B plan for Cam
[12:50] {Threei} Long Setup:  RIMM  53 cross
[12:53] {Threei}  invalidated
[12:55] {Threei}  I have a title for this day
[12:56] {Threei}  Cemetery of Non-Materialized Opportunities
[12:56] {patience} excellent title
06[12:57] * Threei is eyeing next Pullitzer
[12:57] {rambler} 'sit on your hands' day...
[12:57] {nemo} might want to learn how to spell it
[12:57] {Threei}  what for?
[12:57] {Threei}  is there any money in spelling?
[12:58] {rambler} apparently not in the public school system...
[12:59] {Threei}  also, reading unusually large number of public posts during election, it strikes me that among all the populace not knowing difference between "Their", "They're" and "There", I am a star as it is
[12:59] {Threei}  especially considering that English is not my native
[13:05] {rambler} Vad, have you seen the "Don't be a stooge" video on youtube...?
[13:05] {Threei}  yeah
[13:06] {dino} dji green
[13:06] {rambler} gotta love it....
[13:06] {Threei}  my favorite moment from election hoopla is still quote from mao by Iggy
[13:07] {Threei}  irony of highest caliber, to insert a quote from Mao into remark attacking PM on democracy
[13:08] {rambler} hard to believe....
[13:08] {Threei}  USO is still valid
[13:08] {Threei}  well, what do tyou expcet from ivory tower scholar
[13:09] {Threei}  disconnected from life completely
[13:09] {Threei}  in his mind, a winner is determined by who landed better bodyblow on the debate
[13:10] {Threei}  and prase "let the flowers bloom" really earns him votes
[13:11] {nemo} paas
[13:11] {Threei}  reversal time you think?
[13:12] {nemo} what's silver doing
[13:12] {nemo} I think north for PAAS
[13:12] {Threei}  dunno if there is such direct connection... look at SLW
[13:12] {Threei}  and SLV
[13:12] {Threei}  PAAS had news
[13:13] {nemo} as I said
[13:13] {Threei}  12:17:04Pan American Silver Corp. (USA Bolivia Mining Minister: Bolivia govt considering withdrawing mining concessions for PAAS and Glencore - financial press
[13:13] {Threei}  - Bolivia President Morales plans to announce a decree May 1 to "dismantle the privatization model." Bolivia state mining company Corp. Minera de Bolivia, known as Comibol, may rescind contracts with companies including Glencore International, Pan American Silver, and Coeur d'Alene Mines.
[13:14] {dino} as in nationalize
[13:14] {Threei}  yup
[13:14] {dino} idiots
[13:16] {nemo} it held 39
[13:17] {dino} acor spike
[13:19] {dino} news acor?
[13:21] {Threei}  not thay i see
[13:25] {patience} uso play worked
[13:29] {Threei}  1:1
[13:29] {Threei}  not hanging for more, just a scalp
[13:30] {dino} sm s acor .12
[13:34] {dino} stopped
[13:35] {Threei}  (US) Fed's Plosser: Fed needs to shore up inflation fighting credibility; No "imminent danger" of overall inflation; Policy tightening coming in the near future
[13:35] {Threei}  - Sees "ample" signs of sustainable recovery in US.
[13:35] {Threei}  - Does not explect high employment to reduce inflation pressure.
[13:35] {Threei}  - Need to prevent higher oil and commodity prices from accelerating inflation.
[13:35] {Threei}  - This is the right time to adopt specific inflation targets.
[13:35] {rambler} dino, having the day I had yesterday...
[13:36] {nemo} he's having the day he had the day before yesterday
[13:37] {dino} i suck today, simple as that
[13:38] {dino} lps rinsed
[13:38] {dino} acor too i bet
[13:40] {patience} down $11 today....oh well
[13:40] {dino} gj
[13:41] {Threei}  Pan American Silver Corp. (USA Spokesperson: PAAS has not been contacted by Bolivia govt, trying to get confirmation of reports; have legal JV agreement with Bolivia's Comibol
[13:41] {Threei}  - Company learned about the expropriation story from public news reports.
[13:41] {Threei}  - There are no clauses in our contract with Bolivia state mining company Corp. Minera de Bolivia (Comibol) that would permit expropriation or nationalization of PAAS's mining assets.
[13:42] {dino} acor sm s .50
[13:46] {dino} acor stopped
[13:46] {dino} calling it a day
[13:46] {dino} something wrong w/me
[13:47] {rambler} cya dino...
[13:51] {Threei}  take care dino, you know it'll reverse itself tomorrow
[13:51] {ese} it's choir...cya tomorrow....gonna be singin my little heart out
[13:51] {Threei}  tace care ese
[13:51] {ese} cya vad
[13:51] {Threei}  (US) Fed's Plosser: A Gold standard would not serve to cure all price stability issues - Q&A
[13:51] {Threei}  - Zero inflation target would not be necessarily "bad".
[13:51] {Threei}  - Inflation measures inherently biased upward.
[13:51] {rambler} cya ese
[13:52] {Threei}  on this I an agree with Fed
[13:52] {Threei}  can't see gold standard as salvation
[13:53] {nemo} just a thought, 82.02 is weekly pivot for IWM, vwap is 81.98  spy vwap is .96 but it's bouncing off 61.8 retracement at .12, if it drops below that, look for it to bounce above vwap...should bring iwm with it, and if you like excitement, TNA
[13:54] {gen} getting tired looking at nothing moving
[13:55] {gen} call it a day
[13:55] {gen} bye all
[13:55] {Threei}  take care gen
[13:55] {gen} :)
[14:11] {Threei}  NFLX Canadian regulators may seek to regulate the company similiarly to regular TV broadcasters
[14:15] {nemo} geez yoku
[14:19] {Threei}  (LB) US and other participating nations exploring methods to fund rebel forces in Libya, may utilize frozen Libya assets towards such a movement
[14:30] {rambler} LVS ready for short...?
[14:31] {nemo} good spot for it, but not sure yet
[14:31] {Threei}  no clear setup
[14:31] {nemo} you are getting successively higher lows on the indexes, I doubt it right now
[14:35] {Threei}  FCX
[14:35] {Threei}  .30 break
[14:35] {Threei} Long Setup:  FCX  .30 break if stays above .20
[14:38] {Threei}  aggressive entry makes sense here
[14:38] {Threei}  .20 break
[14:43] {Threei}  .15 stop
[14:43] {Threei}  very tight
[14:44] {Threei}  out
[14:49] {rambler} TZA db....
[14:49] {nemo} missed it dude
[14:50] {rambler} dang....
[14:50] {nemo} did check that stock
[14:50] {nemo} didn't
[14:57] {rambler} CREE looks like a serious short on the daily chart.....
[15:02] {nemo} anybody for a run on the indexes
[15:03] {Threei}  SPY about to go green
[15:03] {rambler} TZA short...
[15:04] {nemo} or tna long
[15:07] {Threei}  hmmm... TV running line: 6 Saskatchewan communists under threat of flooding
[15:08] {patience} who says we don't have the finest education system in the world
[15:08] {rambler} they both start with a C........
[15:09] {patience} got an invitation yesterday to attend recruitment session for my daughter to attend oxford.....they must be desperate to come out to the colonies looking for students
[15:10] {Threei}  OK... now it's corrected to "commuinities"
[15:15] {rambler} MCP double top....?
[15:16] {Threei}  doesn't look this way to me
[15:27] {nemo} like a herd of turtles...cya
[15:28] {rambler} cya nemo...
[15:28] {nemo} big gap up tomorrow
[15:29] {rambler} MCP thru 72.60.....
[15:30] {Threei}  and up
[15:30] {Threei}  was looking breakish
[15:39] {davd} have open short order mcp 73.8
[15:40] {Threei}  why?
[15:41] {davd} it is average break to new hight
[15:44] {Threei}  kind of arbitrary number...
[15:44] {Threei}  without setup at the price level
[15:44] {Threei}  OK guys, let's cut the misrey... it's way too boring
[15:44] {Threei}  have a great evening, see you tomorrow
[15:45] {larisa} bye :)
[15:45] {davd} thanks 3i will cancel
[15:45] {Threei}  not geting there anyway...
[15:45] {Threei}  then you fortget it there, get filled agter market, then it gaps up couple bucks
[15:45] {Threei}  you need that headache?? :)
[15:46] {davd} no, have enough headaches.  :(
[15:46] {rambler} thanks Vad,  cya all....