Monday, April 18, 2011

Apr 18 2011

Perfect performance on a very turbulent day with market being stunned by news. 7 calls, 7 wins. almost all are bigger than scalp. No complaints at all.

Session Time: Mon Apr 18 00:00:01 2011
[08:58] {dino} gm all
[09:01] {RonS} gm dino, everyone...
[09:01] {Threei}  Good morning dino, ron
[09:02] {Threei}  45% of households do not owe US income tax
[09:02] {Threei}  as in "paid in installements" or "never paid, never will"
[09:03] {Threei}  wow
[09:03] {Threei}  what just happened?
[09:04] {nemo} US ratings revised to negative by S&P
[09:04] {Threei}  joke?
[09:05] {nemo} no
[09:05] {Threei}  I don't see anything in news
[09:05] {Threei}  where is it?
[09:05] {Threei}  ahha, here it comes
[09:05] {Threei}  Have Market Intel? Tip Line -} Click Here
[09:06] {Threei}  I think this is the end of S&P
[09:07] {patience} good monday morning
[09:07] {Threei}  morning patience
[09:07] {nemo} nope
[09:07] {Threei}  really surprizing... never thought this would happen
[09:08] {Threei}  look at GLD
[09:09] {rambler} morning....
[09:09] {Threei}  rambler :)
[09:10] {Threei}  - S&P believes there is a material risk that US policymakers might not reach an agreement on how to address medium- and long-term budgetary challenges by 2013; if an agreement is not reached and meaningful implementation is not begun by then, this would in our view render the U.S. fiscal profile meaningfully weaker than that of peer 'AAA' sovereigns. Because the U.S. has, relative to its 'AAA' peers, what we consider to be very large budget deficits and rising government indebtedness and the path to addressing these is not clear to us, we have revised our outlook on the long-term rating to negative from stable.
[09:11] {nemo} and who is in the "AAA" group?
[09:11] {Threei}  lol
[09:12] {Threei}  bunch of delinquents, just the same
[09:12] {larisa} gm :)
[09:12] {Threei}  larisa :)
[09:12] {larisa} vad :)
[09:13] {Threei}  on a grand scheme of things htis is a good turn of events I suppose
[09:13] {Threei}  jolt delivered by rate changes will hopefully shake the idiots out of their complacency
[09:13] {nemo} bunch of assholes re-arranging deck chairs on the titanic
[09:14] {nemo} I don't think you're favorite first of the morning short will be a good idea today
[09:14] {nemo} Is it too early to stop drinking
[09:14] {nemo} ?
[09:14] {Threei}  we will see
[09:15] {Threei}  - If U.S. policymakers do agree on a fiscal consolidation strategy, we believe the experience of other countries highlights that implementation could take time. It could also generate significant political controversy, not just within Congress or between Congress and the Administration, but throughout the country. We therefore think that, assuming an agreement between Congress and the President, there is a reasonable chance that it would still take a number of years before the government reaches a fiscal position that stabilizes its debt burden.
[09:15] {Threei}  - In our baseline macroeconomic scenario of near 3% annual real growth, we expect the general government deficit to decline gradually but remain slightly higher than 6% of GDP in 2013. As a result, net general government debt would reach 84% of GDP by 2013. In our macroeconomic forecast's optimistic scenario (assuming near 4% annual real growth), the fiscal deficit would fall to 4.6% of GDP by 2013, but the U.S.'s net general government debt would still rise to almost 80% of GDP by 2013. In our pessimistic scenario (a mild, one-year double-dip recession in 2012), the deficit would be 9.1%, while net debt would surpass 90% by 2013. Even in our optimistic scenario, we believe the U.S.'s fiscal profile would be less robust than those of other 'AAA' rated sovereigns by 2013.
[09:17] {gen} gm all
[09:17] {Threei}  gen :)
[09:17] {gen} :)
[09:18] {nemo} Yoku was up $15 in 3 days, could be interesting short today
[09:18] {Threei}  RIMM is a weirdo
[09:19] {nemo} wow, newsflash
[09:19] {dino} well, there's another feather in socialist obaminations' cap, s/p downgrade
[09:19] {Threei}  I'd expect some kind of reaction today
[09:20] {Threei}  this is not a minor issue
[09:21] {Threei}  my focus so far on X and RIMM shorts
[09:24] {nemo} spy tested recent swing low
[09:25] {nemo} IWM touched monthly pivot
[09:30] {Threei}  davd developed sudden case of jf-ism, forgetting where the door is
[09:31] {Threei} Short Setup: X  .60 break half lot
[09:32] {Threei}  RIMM reversed without clear setup
[09:33] {dino} 12086, 2270, 1297 gaps
[09:33] {nemo} we should do some gap filling
[09:33] {Threei}  X invalidated
[09:33] {ese} gm
[09:33] {Threei}  ese :)
[09:34] {jfjf64} yello
[09:34] {Threei}  jf :)
[09:35] {RonS} cyh
[09:36] {davd} rimm had positive article in barrons
[09:36] {nemo} news amrn?
[09:36] {Threei}  in this market climate it won't matter much
[09:36] {RonS} slv ripping
[09:37] {nemo} gld too
[09:37] {Threei}  Amarin Corp Plc Phase III trial of AMR101 met its primary and secondary efficacy endpoints\
[09:37] {dino} amtd sm l .75
[09:38] {RonS} volitility aapl
[09:38] {Threei} Short Setup: RIMM  .60 break
[09:38] {Threei}  half lot
[09:38] {dino} panl sm l .00 wide
[09:38] {Threei}  invalidated but watching for another range
[09:38] {RonS} .vix +22.5% to 18.63
[09:39] {Threei}  ,80 break
[09:40] {dino} sm l schw .24
[09:40] {nemo} hahahahahahaha
[09:40] {Threei}  1:1
[09:40] {nemo} yeah, right
[09:40] {Threei}  1:2
[09:40] {Threei}  1:3
[09:41] {nemo} teleport short
[09:41] {Threei}  nope, easy to get if you watched that huge bid melting
[09:41] {nemo} it was over .80, then it was .70
[09:42] {Threei} Short Setup: X  .80 break
[09:42] {Threei}  invalidated
[09:43] {Threei}  (US) Moody's issues comments on US debt, debate on whether debt is better for long term fiscal positioning is changing
[09:43] {Threei}  - Notes that a change in the upward movement in debt path has yet to be seen
[09:46] {dino} ferts getting bids, pot, mos, ipi
[09:47] {dino} cyh sm l .60
[09:47] {nemo} mmmhhh indices showing signs of doing the walk up
[09:47] {Threei} Short Setup: X  50 break
[09:48] {Threei}  invalidated
[09:49] {Threei}  valid again
[09:50] {Threei}  in on bounce
[09:50] {Threei}  stop above .10
[09:51] {jfjf64} craxy candle monday
[09:51] {Threei}  well, that was quite a shock delivered by news
[09:51] {Threei}  colatility is to be expected
[09:51] {nemo} spy at support IWM walking trend line
[09:52] {jfjf64} half lots
[09:52] {Threei}  1:1
[09:53] {Threei}  1:2
[09:56] {dino} 2270 filled
[09:56] {Threei} Short Setup: RIMM  54 break
[09:57] {Threei}  stop above .10
[09:58] {Threei}  1:1
[10:00] {Threei}  *(US) APR NAHB HOUSING MARKET INDEX: 16 V 17E
[10:01] {Threei}  spin spin spin
[10:01] {Threei}  Monday, April 18, 2011 09:58:09 (US) CEA's Goolsbee: "I wouldnt" make too much about the S&P decision, doesnt appear as though S&P and Moody's are in total agreement - CNBC
[10:01] {Threei}  - Cautions against overreactions to the S&P decision
[10:02] {nemo} what is CEA?
[10:02] {dino} airline
[10:02] {Threei}  lol
[10:03] {Threei}  RIMM 1:1, out
[10:03] {RonS} council of economic advisors?
[10:03] {Threei}  1:4, sorry
[10:03] {RonS} goolsby the O econ man from Chi town
[10:03] {rambler} beauty Vad, thks....
[10:03] {Threei}  :)
[10:03] {larisa} so when it hits 1:1. you do not move your stop to breakeven? remind me your rules pls :)
[10:04] {Threei}  in times of bigger volatility and smaller lots, usually not exact b/e, giving them a bit more breathing room
[10:04] {Threei}  you didn't notice lately?
[10:04] {larisa} oh ok
[10:04] {Threei}  a few cents motre relaxed trailing
[10:05] {Threei}  more
[10:05] {nemo} that S&P low is significant support
[10:06] {Threei}  IMO{ will lose it
[10:06] {nemo} TZA then
[10:06] {Threei}  I think so
[10:06] {Threei}  38 break
[10:06] {dino} 1297 filled
[10:07] {nemo} 1/2 out .10
[10:07] {Threei}  1:1
[10:07] {Threei}  good idea on TZA as a vehicle for this breakdown
[10:07] {nemo} not as dumb as I look
[10:07] {nemo} then again...
[10:07] {Threei}  :)
[10:07] {nemo} nobody could be THAT dumb
[10:07] {Threei}  1:2
[10:08] {nemo} I'm looking next partial at .50 on IWM
[10:09] {rambler} out TZA +.20, thanks Nemo...
[10:09] {nemo} NP
[10:10] {nemo} now it's which index helps the other find a bottom
[10:10] {dino} ipi sm l .22
[10:11] {Threei}  another breakdown is coming, IMO
[10:11] {nemo} Yep
[10:11] {dino} bounce time my bet
[10:11] {nemo} spy has no support for awhile
[10:11] {dino} two of three gaps filled ndx -2.2%+
[10:12] {Threei}  my feel is one last shakeout before the bounce, dino
[10:12] {dino} 2-3% are bounce arears
[10:12] {Threei}  bounce play would be LVS
[10:13] {nemo} MON db
[10:13] {Threei}  trying for double bottom here
[10:13] {Threei}  held low, lower volume
[10:13] {Threei}  long downward tail
[10:13] {Threei}  held within BBs
[10:13] {Threei} Long Setup:  LVS  43 break
[10:13] {Threei}  if hoding above .85
[10:15] {Threei}  all he classic signs of DB are there, sin not to take the play
[10:16] {dino} live in sin, c'mon in
[10:16] {nemo} Wow..slw !!!!
[10:16] {nemo} How can you truly repent if you've never truly sinned?
[10:16] {Threei}  lol
[10:17] {dino} 8k slw
[10:17] {nemo} countrymen of yours 3i
[10:17] {nemo} man
[10:17] {davd} dollar hod - dont ask me why?
[10:17] {nemo} Portugal?
[10:17] {nemo} know who it was Vad?
[10:17] {davd} i thought we were worse off than portugal?
[10:18] {Threei}  sounds very familiar but can't pinppoint the name
[10:18] {nemo} except we're the reserve currency
[10:18] {nemo} Rasputin
[10:18] {dino} mkts stuck
[10:18] {Threei}  ahha
[10:18] {nemo} great guy
[10:18] {nemo} Tzar had a real hard time killing him
[10:18] {Threei}  come on LVS, grop a pair already
[10:19] {nemo} like this db, but don't like the lack of volume with such market weakness
[10:19] {Threei}  market starts raising its head
[10:19] {Threei}  dino was correct
[10:19] {Threei}  I mean korreqt
[10:19] {nemo} watch 130.15 area
[10:20] {dino} i have advantage of being from the future, i.e. east coadt
[10:20] {dino} coast
[10:22] {Threei}  true, I keep forgetting
[10:22] {Threei}  SLW
[10:22] {nemo} spy at VWAP and dropped
[10:22] {Threei}  ahould be long here szomewhere
[10:23] {Threei}  grrr
[10:24] {Threei}  no exact setup, just a general idea
[10:24] {Threei}  (US) Fed's Fisher: Inflation pressures are present even in light of high unemployment levels
[10:24] {Threei}  heh
[10:25] {Threei}  that's what anyone with brain was saying all along, while his cohort was claiming no such thing
[10:25] {Threei}  LVS 1:1
[10:25] {Threei}  out in full .25
[10:26] {Threei}  that's 5 for 5, and missed SLW
[10:26] {Threei}  action slowed down a bit, let's take a breath
[10:26] {Threei}  and see what shapes up
[10:26] {nemo} you do well on screwy days
[10:26] {dino} gj
[10:26] {nemo} I remember fall 2008
[10:26] {Threei}  tells you something, doesn't it...
[10:27] {nemo} OMFG...think it was like 2 months without a losing day
[10:27] {nemo} yeah...but that was too easy a setup to take
[10:27] {Threei}  yeah, while whole world was crying
[10:28] {nemo} mmmhhhh fcx
[10:31] {dino} sm l tdsc .80
[10:34] {dino} cyh to .65
[10:34] {rambler} out LVS +.40, tks
[10:34] {dino} out cyh +1.04
[10:35] {nemo} cleaned house on that one
[10:39] {rambler} short LVS here Vad...?
[10:40] {Threei}  looks tempting
[10:41] {Threei}  .35 trigger with .45 stop
[10:41] {rambler} I'm in at 43.41
[10:41] {Threei}  or that
[10:41] {nemo} .39
[10:41] {nemo} vwap .26
[10:42] {Threei}  .50 feels more natural for stop placement, but it couldn't break .45 yet
[10:42] {Threei}  so... kind of personal choice
[10:43] {Threei}  here it comes
[10:43] {nemo} 1/2 .28
[10:43] {Threei}  gj guys
[10:43] {nemo} bounced at vwap
[10:43] {nemo} and that's a support level
[10:43] {Threei}  attractive low risk setup
[10:45] {Threei} Short Setup: SLW  .50 break if stays under .60
[10:46] {rambler} out LVS  +.20
[10:46] {Threei}  wtg
[10:46] {Threei}  1:1
[10:47] {nemo} frickin' lulu
[10:47] {Threei}  1:2
[10:47] {Threei}  that's what, 6 for 6 or 7 for 7
[10:48] {Threei}  can I go home?
[10:48] {rambler} not even coffee time yet....
[10:48] {dino} wtg vad
[10:49] {patience} very nice vad
[10:49] {Threei}  ty
[10:50] {nemo} ANF .10 break?
[10:50] {Threei}  (US) China's Dagong Global Credit comments after S&P outlook cut on US: US is closer to another downgrade
[10:50] {Threei}  - REMINDER: on 11/9/10, Dagong cut its rating on US sovereign credit to "A+" from "AA" citing QE2 program.
[10:50] {Threei}  no
[10:50] {Threei}  not liking it at all
[10:52] {nemo} 1/2 out .20
[10:53] {nemo} sorry, was in before your reply
[10:53] {Threei}  (US) Fed's Lockhart: A recessionary impact could be felt if oil moves above $150/bbl
[10:53] {Threei}  - US Q1 growth likely to come in below prior forecasts, higher oil prices have hurt consumer activity, but not having a severe effect. Energy prices could remain elevated for some time.
[10:53] {nemo} stop under 68
[10:53] {Threei}  stop printing money like there is not tomorrow, imbecils
[10:54] {Threei}  or there will be no tomorrow
[10:54] {nemo} it's the perfect political solution
[10:55] {nemo} eh, another 1/4 .21
[10:55] {Threei}  amazes me how they pretend that money printing has nothing to do with commodity prices
[10:55] {nemo} let last quarter ride on black
[10:55] {davd} dollar closes gap from last weeks big drop re uup
[10:56] {Threei}  (US) Moody's affirms United Statess AAA ratings; outlook Positive
[10:56] {dino} adtn sm l .30
[10:57] {davd} great, s&p vs moodys - like watching paris hilton battle winona rider
[10:57] {dino} moodys looking for obama favors
[10:58] {nemo} I kinda' like Winona...a bit kooky but...
[10:59] {nemo} when she made that movie with share, it was around the corner from me.  you'd see her and Johhny Depp walking downtown periodically...And we're talking a one street 200 yard downtown
[10:59] {dino} i'm going
[10:59] {nemo} cyH C&H?  MON DB?
[11:00] {Threei}  MON no
[11:01] {Threei}  CYH, can't tell
[11:01] {Threei}  but rather no
[11:01] {dino} giddy-up
[11:01] {nemo} the market or Paris, Dino?
[11:01] {Threei}  lol
[11:01] {dino} lol. was thinking market, but...
[11:05] {dino} was wrong
[11:07] {dino} gaps 12086, 11859;  2221, 2202;  1279, 12566
[11:08] {nemo} mmmhhh, my cover on anf is .under .00, might actually be a good short
[11:10] {nemo} wow pileup on cyh
[11:10] {nemo} yeah, sledghammered it
[11:12] {nemo} shrot under .90 CYH?
[11:12] {nemo} and watch 30 break for long?
[11:12] {dino} pulp type, pulled buck out of it earlier
[11:12] {nemo} yeah, definitely not fresh squeezed
[11:12] {Threei}  nit sure either way nemo
[11:12] {Threei}  not
[11:12] {nemo} so...a definite maybe
[11:12] {Threei}  looks kind of jellyfishy
[11:13] {dino} supp around 29.30
[11:14] {nemo} and .65
[11:14] {Threei}  (US) S&P: USD well remain a reserve currency for some time and it will only change slowly
[11:14] {nemo} duh, it's just wether it becomes Cottonelle or 2 ply
[11:15] {nemo} whether
[11:19] {nemo} out anf
[11:21] {nemo} see the story about the deer watching over the goose nest?
[11:22] {patience} nope
[11:22] {nemo} google "Deer Goose"
[11:23] {Threei}  live camera feed from bald eagle nest
[11:23] {Threei}
[11:24] {Threei}  strident... missed stellar morning
[11:24] {Threei}  7 out of 7
[11:25] {nemo} that's cool...when I lived in Germany, went to a live Museum where they rescued raptors...They were all sitting on perches about 5 feet away...really neat
[11:26] {RonS} that hancock sidney 1 bird has got to look like nemo...
[11:26] {Threei}  lol... they just had first egg hatching
[11:26] {nemo} I look like a dodo
[11:27] {Threei}  CYH trying to break... I doubt it's worth the risk
[11:28] {nemo} hehehe, was watching that
[11:28] {nemo} getting to lunch on a very weird Monday
[11:29] {Threei}  here comes smackdown
[11:34] {nemo} INFY
[11:36] {ese} nope still here  s apkt .92
[11:36] {nemo} INFY volume
[11:36] {dino} sap spike
[11:36] {nemo} !!!
[11:37] {ese} bad fill......but only practising
[11:38] {ese} practising my shorting that is........50shs here 100shs there etc etc
[11:40] {nemo} SLW vad
[11:40] {ese} shorting is apart of my game that i've never been really good at.......feels like learning this stuff all over again.......
[11:40] {Threei}  there is a lot about that in Taoist Trader, ese
[11:41] {ese} yes.......i can never seem to find the time these days to read it hoping that the summer will give me that opportunity
[11:42] {ese} for instance....last night we play for Michael Ignatieff the leader of the federal Liberal Party here in Canada........and on it bloody wells too popular in this town...have sort of created my own little nightmare
[11:43] {Threei}  cry me a river :)
[11:43] {ese} nice man though
[11:43] {Threei}  not my cup of tea...
[11:43] {rambler} raise your prices....
[11:43] {ese} rotflol......eggggzatilly
[11:43] {ese} thats what i say to my band kids
[11:43] {nemo} hey Dino, what's that internet radio station you use?
[11:43] {Threei}  ivory tower kind
[11:43] {RonS} caught adtn .36 to .78  thanks for reminder dino
[11:44] {rambler} did he quote you any Moaisms......?
[11:44] {nemo} ?
Session Close: Mon Apr 18 11:44:27 2011

Session Start: Mon Apr 18 11:44:47 2011
Session Ident: #discussions
03[11:44] * Now talking in #discussions
[11:44] {Threei}  lol, that was bizarre
[11:45] {nemo} what was?
[11:45] {ese} no......interesting speech though last night......
[11:45] {rambler} he would be a disaster P.M.....
[11:45] {rambler} IMHO...
[11:45] {ese} apkt stopped
[11:45] {Threei}  leader of opposition party, during televized debate,
[11:45] {Threei}  reproaching prime minister with abandoning democarcy,
[11:46] {Threei}  quoted Mao
[11:46] {ese} same pigs different trough....or is that same trough different pigs
[11:46] {Threei}  appropriate quote for such topic, eh? :)
[11:46] {ese} whatever
[11:46] {dino} out adtn .80, +.50
[11:46] {Threei}  "Let the flowers bloom"
[11:47] {Threei}  blogosphere reactied within 30 seconds
[11:47] {Threei}  "Did he just quote Mao??"
[11:47] {Threei}  internet world is unforgiving, lol
[11:47] {rambler} read yesterday in the Post that historians now figure that mao killed more people than Stalin and Hitler combined....
[11:48] {Threei}  well, he had more to kill to begin with...
[11:48] {nemo} spy at vwap
[11:49] {dino} nemo, , hundreds of stations, i like the alternative rock ones
[11:49] {nemo} TY
[11:50] {rambler} my commie university prof friend from Oregon tells me that George Bush killed more people than mao....
[11:50] {ese} vadd dcc
[11:50] {Threei}  and ate their firstborns?
[11:50] {rambler} and he believes it......
[11:50] {dino} gj ron adtn
[11:51] {rambler} I tell him he can't retire soon enough....
[11:51] {dino} and he's a prof, well theres your answer to our education problems
[11:51] {dino} they refuse to acknowledge the truth
[11:51] {rambler} he is a big moa fan....
[11:52] {rambler} mao...
[11:52] {nemo} a Microsoft station Dino?
[11:52] {dino} how intellectuals can be fans of mass murderers, i don't get
[11:52] {dino} yes
[11:52] {rambler} they love to discuss "truth".....
[11:53] {RonS} mao won china through the discipline of his army
[11:53] {RonS} they did not rape and pillage
[11:53] {dino} bs, they make up the truth, facts do not matter to them
[11:53] {rambler} almost crawled over the stern of my boat last spring to get at him...
[11:55] {RonS} mao won the hearts of the peasantry
[11:55] {RonS} shang kai shek and the nationalists were corrupt
[11:55] {rambler} ya, and then he starved them to death.....
[11:56] {nemo} guy who trained me...guy who trained him was Mao's physician in the 40's
[11:56] {dino} if mao had lost the history would be wrote much differently
[11:56] {nemo} written by the victors
[11:56] {RonS} having said that, Mao killed millions...and anyone who does not recognize that is an idiot
[11:56] {nemo} and, as Napoleon said...
[11:56] {nemo} History is merely a fantasy upon which we all agree
[11:56] {dino} right, and re-wrtten by the liberals
[11:57] {rambler} exactly....
[11:57] {nemo} rambler...have to work on your spelling
[11:57] {Threei}  really
[11:57] {rambler} what........
[11:57] {RonS} and, btw, i learned my chinese history from a ex-pat Nationalist Chinese
[11:57] {Threei}  "eqzaktly" is how that word is spelled
[11:58] {rambler} so sorrly...
[11:58] {Threei}  sin no more
[11:58] {RonS} dang ipi just will not go...
[12:00] {rambler} SLW short...?
[12:04] {dino} i know ron, any other day it moves
[12:05] {RonS} al i wanted was .44 from .20
[12:05] {RonS} all
[12:06] {nemo} I think CYH is going to want to break that 30 at some point
[12:07] {dino} me too
[12:08] {rambler} SLW DT....?
[12:08] {nemo} looks that way
[12:09] {Threei}  chick raised its head in the nest
[12:09] {nemo} only thing though, after today's announcement, can silver stay down
[12:10] {Threei}  mom feeds it
[12:10] {nemo} what chick?
[12:10] {Threei}  eagle
[12:10] {RonS} paris
[12:10] {Threei}
[12:10] {Threei}  upper one
[12:10] {Threei}  look quickly
[12:10] {Threei}  not every day you can see this real time
[12:11] {nemo} CYH
[12:11] {RonS} that nest is a McMansion...
[12:12] {nemo} probably built better
[12:13] {RonS} what is she doing?
[12:13] {nemo} defecating
[12:14] {ese} just realised.....thats live right now!
[12:14] {ese} wow
[12:14] {nemo} blonde?
[12:15] {Threei}  SLW starts forming that short I think
[12:16] {rambler} .90 break...?
[12:16] {Threei}  not clear yet
[12:16] {rambler} dang green candle...
[12:17] {Threei}  but this itme of day, I'd rather hunt for aggressive entry
[12:26] {nemo} CYH C&H?
[12:26] {Threei}  I can't bring myself to buy this type of break at this time in this type of market
[12:28] {nemo} that volume doji,,,oy vay...I'll sit it out
[12:30] {nemo} wow...a Kenyan won the Boston Marathon...what a surprise
[12:30] {nemo} set world record
[12:31] {nemo} 2:03 beat previous record by 2 minutes
[12:31] {nemo} An American finished 4th
[12:31] {RonS} prob kenyan...?
[12:32] {nemo} or of Kenyan descent
[12:35] {nemo} Gawd!!! is CYH tempting
[12:39] {Threei}  nope
[12:40] {Threei}  the more I look at it, the less temting it is
[12:46] {dino} markets stuck
[12:46] {Threei}  ese, dcc pls
[12:56] {Threei}  I'll stay away, but the temptation to short this break is there
[12:57] {nemo} you were saying?
[12:57] {rambler} you in CYH Nemo....?
[12:57] {Threei}  saying I'd short the living daylight out of it if I were inclined to do anything
[13:00] {rambler} are you talking CYH....?
[13:01] {Threei}  yeah
[13:02] {nemo} no, I wasn't
[13:02] {rambler} why would you short that setup Vad...?
[13:02] {nemo} In the words of the Immortal Magoo...."rip, or rot?"
[13:03] {dino} lol
[13:04] {Threei}  I can't put it in words
[13:04] {nemo} It's a Tao thing...looked for, can't be seen, listened for, can't be heard
[13:05] {rambler} gut feeling....?
[13:05] {Threei}  I guess...
[13:05] {Threei}  too perfect consolidation, too inviting
[13:06] {Threei}  did it once before, look at the similar break attempt at 11:28
[13:06] {nemo} yeah, a very "Spider to the fly" kinda' thing
[13:06] {rambler} looks like great long entry to me...
[13:06] {Threei}  and immediate smackdown, trapping gullible break buyers
[13:07] {rambler} been  there, done that.....
[13:07] {Threei}  it's very uncertain now, random movements time of the day
[13:07] {Threei}  so I do not touch it either way
[13:08] {Threei}  but if I had to, in words of immortal magoo "gun to head"... it would be short
[13:10] {Threei}  ywo eagles are in the nest now
[13:10] {nemo} Vad, might still be right, this could have been a Wile E. Coyote moment
[13:11] {rambler} SPY dropping
[13:12] {rambler} gotta run for a bit...
[13:13] {nemo} TNA might be a bounce around .85
[13:13] {nemo} if not here around .70 might be a bounce
[13:20] {nemo} MOS short below 73 or long on bounce?
[13:20] {nemo} ehhh vwap at .95
[13:20] {nemo} unless market crashes
[13:20] {nemo} probably no good
[13:26] {nemo} hehe...would have been a nice scalp off of VWAP
[13:36] {RonS} wow akam
[13:41] {ese} am outta here.....have a great rest of the day
[13:42] {dino}  cya
[13:42] {RonS} cya nemo
[13:42] {nemo} huh?
[13:42] {RonS} sory...ese
[13:42] {nemo} mmmhhhhh, If Rovi drops .65, could go some more
[13:42] {RonS} sorry
[13:43] {nemo} shouldn't insult ese like that...sensitive musician
[13:44] {rambler} back in the saddle....SPY popping...
[13:45] {nemo} vwap .04
[13:45] {Threei}  take care ese
[13:45] {nemo} sould test .12
[13:45] {nemo} ROVI no bounce with market
[13:49] {dino} adtn sm l .25
[14:04] {dino}  meli
[14:08] {dino} meli wow
[14:17] {nemo} market giving the big FU to S&P
[14:18] {dino} hsbc of hong kong emails me that they are holding a 12 m inheritance for me if i provide...
[14:20] {nemo} think meli, look yoku
[14:20] {nemo} LVS
[14:27] {Threei}  (GR) US Treasury Spokesperson: Press reports suggesting that Treasury's Geithner stated a Greek debt restructuring would be needed are incorrect
[14:28] {nemo} it's snowing on the goose nest
[14:28] {Threei}  not on eagle's
[14:28] {nemo} nope
[14:28] {nemo} aww cute little chick
[14:29] {Threei}  you missed feeding moment?
[14:32] {nemo} LVS .01?
[14:32] {Threei}  late
[14:32] {nemo} I missed
[14:33] {Threei}  RIMM may be preparing for the same
[14:33] {Threei}  .50
[14:33] {dino} gj cyh nemo
[14:33] {nemo} yeah
[14:34] {Threei}  dino, they must have a few of those inheritances... my notification has just arrived too
[14:34] {Threei}  same amount
[14:34] {Threei}  aren't we lucky
[14:35] {Threei}  booking flight as we speak
[14:38] {dino} lol
[14:40] {davd} i would believe the hsbc email over the vix
[14:41] {davd} that was my way of saying vix breaks below lod - meaningless
[14:42] {Threei}  yeah, I don't know what it measures anymore
[14:43] {davd} its a great way for etf sellers to make a buck
[14:44] {dino} i can't trade it
[14:44] {RonS} meli hod
[14:44] {davd} jesse jackson jr argues that technology is the cause of umempolyment - i agree
[14:45] {Threei}  so, luddism is the way to go?
[14:45] {dino} i read that, jesse's an idiot
[14:45] {davd} he's right.  he is prob also an idiot...
[14:46] {Threei}  each destroyed excavator gives us 50 new jobs
[14:47] {Threei}  or how many men with shivels are needed to replace it
[14:47] {dino} out ipi .52 +.30
[14:47] {davd} i know the argument - i believe the today, we have reached to the tipping point
[14:48] {rambler}  way to hang in there dino....
[14:48] {dino} took awhile
[14:48] {Threei}  anyone went for RIMM break?
[14:48] {RonS} i believe the tipping point needs to reach the tipping point
[14:49] {Threei}  how very Zen of you
[14:49] {dino} i just want to tip a few beers
[14:49] {Threei}  and you
[14:49] {Threei}  lol
[14:49] {RonS} that concept smacks of convenient faulty logic
[14:50] {nemo} I smell a rinse in LVS
[14:51] {patience} 3:00 cometh...looking with entertainment...not doing much today
[14:52] {nemo} jeez yoku
[14:53] {dino} mos green
[14:55] {davd} wheat up 4.2%
[14:55] {dino} panl trying to break .00
[14:59] {nemo} ARCO new highs
[15:02] {RonS} lol:  Mary Miller, US Assistant Treasury Secretary said in a statement that the S&P outlook "understimates" U.S. leadership.
[15:03] {nemo} Hillerich and Bradsby right upside the head
[15:04] {Threei}  miunderestimates?
[15:11] {Threei}  watchign FCX for short into bounce around .50-.60
[15:11] {nemo} sitting on vwap
[15:13] {nemo} rinse LVS
[15:16] {Threei} Short Setup: FCX  .50 break
[15:16] {Threei}  if stays under .60
[15:18] {dino} rally
[15:19] {nemo} spy going to weekly pivot at .82
[15:21] {Threei}  invalidated
[15:22] {nemo} spy touched .82, let's see, but I'm betting keeps going
[15:23] {nemo} big gap up tomorrow
[15:24] {dino} turnaround tuesday?
[15:24] {nemo} yep
[15:24] {dino} happened last week
[15:25] {Threei}  following Gap down Monday and followed by No idea what's next Wed
[15:27] {patience} ok, i'll be the contrarian
[15:32] {dino} thats usually me
[15:32] {nemo} didn't know you were Armenian
[15:33] {RonS} classic
[15:33] {nemo} ?
[15:33] {RonS} spot on
[15:33] {nemo} I need wine
[15:35] {nemo} does spy hang here at the monthly pivot...what would piss the most people off
[15:36] {nemo} Oh, I lied quarterly pivot
[15:36] {dino} hard drop would
[15:36] {RonS} O says there is no debt problem?
[15:36] {nemo} H&B time again
[15:37] {Threei}  (US) PIMOC's El-Erian: S&P's change in outlook on US debt is consequential; clouds are forming on the horizon
[15:37] {patience} now i'm laughing
[15:37] {nemo} another "Duh"
[15:37] {nemo} what was that Vad, "stop the planet, I want to get off"
[15:37] {Threei}  yup
[15:38] {nemo} I just don't think there is enough alcohol in the world to get through this
[15:39] {nemo} Think I'll ask Bunny...
[15:39] {dino} makes me think of platoon
[15:39] {nemo} btw...she loves Broccolli
[15:39] {nemo} Brocolli
[15:39] {nemo} Broccoli
[15:39] {rambler} FCX short ...
[15:39] {rambler} ?
[15:39] {Threei}  nah
[15:39] {Threei}  no setup
[15:40] {RonS} makes me think of the Statler Brother's "Counitng Floweres on the Wall"
[15:40] {RonS} flowers
[15:40] {RonS} counting
[15:40] {nemo} been here too long
[15:40] {Threei}  contagious, eh?
[15:40] {nemo} maybe he started drinking
[15:40] {RonS} lol
[15:41] {nemo} I did, going to the range...gotta' lube up the trigger finger
[15:44] {Threei}  SPY pace increases but direction is undefined
[15:45] {Threei}  my bet would be down
[15:45] {patience} yup
[15:47] {RonS} South Carolina Republican Sen. Jim DeMint warns he will filibuster vote on debt ceiling unless lawmakers add a balanced-budget amendment to the Constitution, adding a new twist in deficit battle. Oy Vey!!
[15:48] {RonS} way to clebrate the 150 yr anniv of the start of the Civil War
[15:48] {Threei}  sigh
[15:48] {nemo} what was that about blood and the "Tree of Liberty
[15:48] {nemo} "?
[15:48] {Threei}  idiots are playing with fire
[15:49] {nemo} thus target practice
[15:49] {Threei}  as if situation was not bad enough, they want to make it catastrophe
[15:51] {RonS} LVS just keeps going...
[15:52] {nemo} yeah, rinsed my ass
[15:52] {patience} markets aren't breaking down gracefully
[15:52] {nemo} kinda' like me
[15:52] {dino} out tdsc .40, +.60
[15:52] {Threei}  wtg
[15:52] {nemo} I look like somebody dropped bleach on my head and used 60 grit sandpaper to wipe it off
[15:53] {dino} ty, took all afternoon
[15:53] {Threei}  OK guys, let's take he break till tomorrow... 100% day is nothing to sneeze at durting such turbulent times
[15:53] {Threei}  have a great evening, see you tomorrow
[15:53] {larisa} bye :)
[15:54] {rambler} cya tomorrow....
[15:54] {nemo} wow SINA up $10 today