Wednesday, April 27, 2011

Apr 27 2011

Very strong day for us with nice wins on both sides, long and short. SLW is a faithful ATM of late.

Session Time: Wed Apr 27 00:00:00 2011
[08:47] {Threei}  (GR) Greece Fin Min: Reiterates that it is not considering any debt restructuring
[08:48] {nemo} yeah...they're just going to default
[08:50] {nemo} we should just take a nap until noon
[08:54] {Threei}  wow... president shows his original birth certificate
[08:55] {Threei}  so what was the two-years long refusal to do so about?
[08:58] {nemo} had to get a good counterfeiter
[08:58] {Threei}  lol
[09:04] {davd} did he really show it?  where?
[09:05] {Threei}  a few min ago
[09:05] {Threei}  will also hold press-conference about it
[09:05] {davd} that 1/2 of donald trumps platform down the drain.
[09:05] {Threei}  yeah, lol
[09:06] {dino} gm all
[09:06] {Threei}  dino :)
[09:06] {RonS} gm everyone
[09:06] {Threei}  Ron :)
[09:07] {RonS} prez playing his trump card, eh?
[09:07] {davd} you should write for leno
[09:08] {davd} good pun!
[09:08] {nemo} yes, jolly good Ron
[09:15] {ese} morning.....
[09:15] {Threei}  ese :)
[09:15] {ese} anyone here hate windows as much as i do
[09:16] {Threei}  not at all... why?
[09:16] {RonS} maybe, but i hate doors more...
[09:16] {Threei}  rofl
[09:16] {Threei}  Ron is in a good shape today
[09:16] {Threei}  must be all that testosteron
[09:16] {ese} lol
[09:17] {rambler} morning all...
[09:17] {Threei}  rambler :)
[09:19] {larisa} gm :)
[09:19] {Threei}  larisa :)
[09:19] {ese} i didn't notice windows doing an update yesterday and when it shut dn my computor to install wouldn't come back on again
[09:19] {dino} another value added upgrade, citi raises crs from 40 to 49. stocl closed yesterday at 49.44.
[09:19] {RonS} regn...+7% w/ good study endpoint...6.5 mil sh short
[09:20] {Threei}  wow... you shouldn't have allowed it to do autoupdate
[09:20] {Threei}  I set mine to offer an update
[09:20] {Threei}  so I can review it and see if it's relevant, and decide when to install it and when to reboot on my own
[09:21] {ese} thought thats what i had done but apparently not
[09:24] {Threei}  note that FOMC schedule has changed
[09:24] {Threei}  now it's this:
[09:24] {Threei}  12:30 FOMC Rate Decision
[09:24] {Threei}  14:15 FOMC Press Conference
[09:24] {davd} dentist appt?
[09:24] {Threei}  lol
[09:28] {Threei}  lol... Trump is taking credits for making president to release the certificate
[09:29] {rambler} full lot this morning.....?
[09:29] {Threei}  I think so
[09:30] {Threei}  doesn't look like something extraordinary aside of normal morning volatility
[09:30] {RonS} maybe on trump but maybe it was the poll that only 37% of US thought he was born here...
[09:30] {Threei} Short Setup: SLW  .60 break
[09:30] {Threei}  if stays under .75
[09:31] {jfjf64} mornin all
[09:31] {Threei}  valid, IMO
[09:31] {Threei}  jf :)
[09:32] {Threei} Short Setup: X  49 break
[09:32] {nemo} yeah'
[09:32] {Threei}  argh
[09:32] {Threei}  too fats
[09:32] {jfjf64} in
[09:34] {Threei}  who went for X second chance entry, feel free to cover
[09:35] {Threei}  SLW 1:1
[09:37] {Threei} Long Setup:  FCX  .25 break
[09:38] {Threei}  invalidated for now, watching for another setup
[09:40] {Threei} Long Setup:  FCX  55 break
[09:40] {Threei}  stop is under .90 obviously
[09:40] {Threei}  not a scalp
[09:40] {Threei}  target is about .25
[09:41] {Threei}  in two parts
[09:41] {Threei}  half out
[09:42] {Threei}  stop .98
[09:42] {Threei}  1:2
[09:42] {Threei}  target hit
[09:42] {Threei}  out
[09:42] {jfjf64} f    k     ahh
[09:42] {jfjf64} nice
[09:42] {rambler} out, tks V
[09:42] {Threei}  welcome guys
[09:42] {Threei}  SLW
[09:43] {Threei}  watching for double top
[09:43] {Threei} Short Setup: SLW  .70 break
[09:43] {Threei}  if stays under .80
[09:44] {Threei}  invalidated
[09:47] {Threei} Short Setup: X  ..40 break
[09:47] {Threei}  if stays under .50
[09:47] {dino} brcm sm l .90
[09:48] {Threei}  not a scalp
[09:48] {Threei}  not sure of target yet
[09:49] {Threei}  no go
[09:50] {dino} ua sm l .50
[09:52] {dino} vdsi sm l .14
[09:56] {jfjf64} x
[09:56] {jfjf64} ??
[09:56] {Threei}  nah
[09:57] {Threei} Long Setup:  SLW  .80 break
[09:57] {Threei}  stop for extrascalpers under .75
[09:58] {Threei}  normal traders .70
[09:58] {Threei}  if there is such thing as normal trader
[10:00] {Threei}  stop to .74 for everyone now
[10:00] {Threei}  1:1
[10:02] {nemo} jazz
[10:02] {nemo} dino
[10:03] {nemo} JAZZ
[10:03] {nemo} JAZX
[10:03] {nemo} JAZZ
[10:03] {Threei}  no news yet
[10:04] {ese} check LFT out......relentless sell off
[10:07] {Threei}  a few negative reports on it
[10:10] {ese} now a $1.50 bounce
[10:12] {RonS} scalped .17 thanks ese
[10:15] {ese} nice one ron
[10:17] {Threei}  SLW
[10:17] {Threei}  another sharp leg down
[10:17] {Threei}  not bounce ready yet, IMO
[10:18] {Threei}  but soom
[10:18] {Threei}  or soon
[10:20] {nemo} jazz news?
[10:20] {Threei}  nothing here
[10:26] {Threei} Long Setup:  CTAS  .90 break half lot
[10:27] {patience} good morning, i see my slw trade hits its trailing stop, made +.51 on it overnight.
[10:27] {Threei}  morning
[10:28] {patience} missed much?
[10:28] {Threei}  decent day so far
[10:29] {patience} across the board, sectors are down?
[10:30] {Threei}  *DOE CRUDE: +6.2M V +1ME; GASOLINE: -2.5M V -1ME
[10:30] {Threei}  swimming in oil
[10:31] {ese} haven't missed much patience........
[10:32] {patience} oh well, i'm kinda missing those big days every day in a row kind of action.  It will turn up the meantime I'll actually have to work at it.
[10:32] {nemo} ITMN
[10:33] {_magsab} is CAT valid?
[10:33] {nemo} cat?
[10:33] {Threei}  ITMN Considering a sale of the company, hires financial advisor to evaluate alternatives - financial press citing sources
[10:33] {Threei}  haven't called it today
[10:34] {Threei}  I don't see any obvious setup on CAT
[10:34] {_magsab} sorry CTAS
[10:34] {Threei}  oh
[10:34] {Threei}  it triggered
[10:34] {Threei}  stop under .80
[10:34] {jfjf64} imo   vxx  short here
[10:35] {Threei}  stopped
[10:36] {Natali} gm:)
[10:37] {ese} the bounces in some stocks today is kinda crazy EAT
[10:37] {Threei}  natali :)
[10:37] {ese} money to be made there but i can't seem to get onto them quick enough
[10:40] {ese} time to go back to bed...just about to pull the trigger on QCOR at .48 and bang....i miss it
[10:40] {ese} day late dollar short
[10:48] {rambler} gotta run, boat bits to pick up in Vic......cya all
[10:49] {Threei}  take care rambler
[10:49] {ese} L tie 1/2 .09
[10:50] {ese} cya rambler
[10:55] {RonS} nemo, thanks for it for .80 ese size
[10:55] {RonS} .80 ave...partialled out
[10:58] {ese} ron baby!!!!!!!  well done
[10:58] {RonS} thnaks dino tagged ua for .41
[10:59] {RonS} oops, out early
[11:05] {dino} gj ron, still in
[11:06] {Threei}  great job guys
[11:06] {dino} my stop ua is .99
[11:06] {dino} tighten to .10
[11:07] {patience} slw pop
[11:07] {dino} whr all over the place
[11:07] {RonS} rimm l .54
[11:08] {dino} ua to .20
[11:08] {dino} to .24
[11:08] {nemo} make or break for ua
[11:08] {dino} yeah
[11:09] {dino} to .29
[11:10] {dino} gut says up
[11:10] {dino} ua that is
[11:11] {dino} out ua major slip, .19, +.69
[11:11] {ese} out tie .19 +.10   takin my 50bucks and am outta there
[11:11] {RonS} cya ese
[11:11] {dino} cya es
[11:11] {ese} outta the stock
[11:12] {RonS} tie says cya ese
[11:13] {ese} lol
[11:17] {nemo} ITW
[11:17] {nemo} LFT
[11:17] {ese} what are you thinkin with lft nemo?
[11:18] {nemo} long lotta volume at 19
[11:18] {nemo} 1/2 out ITW .11 from .01
[11:18] {ese} agreed
[11:19] {nemo} could pull back to .70 area.  with the bernank coming up don't wont to pay
[11:20] {ese} was thinkin .64 1min ma
[11:21] {ese} but .70 is close enough
[11:21] {ese} 50 ma
[11:25] {ese} hmmmmmmmm
[11:27] {nemo} MIPS
[11:27] {RonS} scalped lft for .26  thanks guys
[11:30] {RonS} mini-ese size
[11:30] {ese} LFT?
[11:33] {RonS} out rimm .78  +.24
[11:35] {ese} right on ron....your going nuts today
[11:38] {RonS} wtf?...via nyt:  Atheists Seek Chaplain Role in the Military
[11:39] {Threei}  lol
[11:39] {RonS} luv this guy:  Trump To Obama: Get Off The Basketball Court
[11:39] {Threei}  hehe
[11:40] {ese} holy smokin
[11:40] {davd} "looks like you are going to die - enjoy nothingness" - chaplain
[11:40] {Threei}  I don't want him to win, and I don't want him to run, but I want him to be in primaries
[11:40] {Threei}  he does have a few things to say that I would like whole country t hear
[11:41] {Threei}  to cite an example:
[11:41] {Threei}  "we don't get oil from Libya; China does; why do we fight for oil for China/"
[11:42] {nemo} Italy gets oil from Libya
[11:46] {Threei}  we are coming within 45 min of FOMC announcement
[11:46] {Threei}  and while announcement itsaelf is non0event,
[11:46] {Threei}  comments are
[11:47] {Threei}  I am not sure how they are going to do it today, accompany rate decision with comments as usual,
[11:47] {Threei}  or leave comments to Ben's press-conference
[11:48] {RonS} comments as usual and ben takes questions from the hoy poloi...
[11:48] {Threei}  from the what?
[11:49] {RonS} the journalists who are easily as stupid as the congress people
[11:49] {RonS}
[11:50] {RonS} guess i misspelled it...hehe
[11:51] {Threei}  ok... I thought it was something to do with mythical mongolian beast
[11:51] {Threei}  Olgoi Horhoi
[11:52] {RonS} local ukranian hooker?
[11:52] {Threei}  worse
[11:52] {Threei}  Mongolian Death Worm
[11:53] {RonS} and it has not made it to Hollywood?
[11:53] {Threei}  nope
[11:57] {RonS} wow, rok got stoned
[12:00] {RonS} amzn all time high
[12:02] {Threei}  Just One-In-Four View Geithner, Holder Favorably
[12:02] {Threei}  67% Say U.S. Society Fair and Decent, 43% Think Obama Agrees
[12:03] {Threei}  51% Say Hate is Growing in America
[12:14] {RonS} ...for stupid polls?
[12:15] {Threei}  hey, how else do we kill time before ben blesses us with his wisdom
[12:17] {RonS} ...countin flowers on the wall. that don't bother me at all...
[12:17] {RonS} playin solitaire 'till one with a deck of 51...
[12:18] {RonS} smokin cigarettes and watchin Captain Kangaroo. now don't tell me, i've 'nothin to do...
[12:20] {RonS}
[12:21] {davd} i thought smoking w kids in the room was bad?
[12:21] {RonS} ya, i guess i'll have to take the goats outside...
[12:25] {nemo} what, having an orgy Ron?
[12:25] {RonS} lol...tag team...
[12:27] {RonS} 'nother of my faves:
[12:27] {davd} wasnt there supposed to be a decision at noon?
[12:28] {RonS} 12:30
[12:28] {davd} minutes...
[12:28] {davd} moved to noon because ben couldnt cancel his dentist appt?
[12:32] {RonS} eur spike
[12:32] {RonS} drop i mean
[12:33] {Threei}  holding rates as expected
[12:33] {Threei}  unanimoiusly
[12:35] {patience} slw pop again
[12:38] {Threei}  - Reaffirms plan to end treasury purchases in June as expected - Inflation has picked up in recent months, prepared to adjust holdings as needed - Continues to anticipate that economic conditions, including low rates of resource utilization, subdued inflation trends, and stable inflation expectations, are likely to warrant exceptionally low levels for the federal funds rate for an extended period.
[12:39] {RonS} fti l .10
[12:40] {dino} nbr sm l .50
[12:42] {Threei} Short Setup: SLW  .50 break
[12:42] {Threei}  if stays under .60
[12:42] {Threei}  1:1
[12:43] {patience} wait, i have a double lot long of slw.......
[12:43] {nemo} sucks being you
[12:44] {patience} full lot of goldcorp
[12:45] {Threei}  1:2
[12:45] {Threei}  easy money
[12:45] {Threei}  like walking and seeing a roll of cash laying on the ground... just pick it up
[12:47] {RonS} stopped fti -.10
[12:54] {Threei}  1:3, done
[12:54] {Threei}  anyone??
06[12:54] * Threei prepares to rfemove himself to a remote mountain monastery
[13:02] {patience} still in slw , just letting it breathe....shoulda scalped it though...sigh, got in at 38.18
[13:04] {Threei}  OK, no one takes my winning trades
[13:04] {Threei}  I am leaving for the next 10 years which I intend to spend in Tibet
[13:04] {nemo} I try to focus on the losing ones
[13:04] {Threei}  navel-gazing,
[13:04] {Threei}  soul-searching,
[13:04] {Threei}  pondering important issues
[13:05] {Threei}  like difference between original and pale Innis&Gun
[13:06] {Threei}  anyone knows addresses of female monasteries in Tibet?
[13:11] {dino}  regn
[13:12] {RonS} just scalped it for .50  too fast to post
[13:13] {RonS} jeeez regn
[13:13] {Threei}  RIMM tablet sales exceed expectaions
[13:18] {nemo} news REGN?
[13:20] {RonS} this a.m....we covered it
[13:20] {nemo} missed it
[13:20] {Threei}  positive study results yesterdat
[13:21] {Threei}  couple uogrades today
[13:21] {RonS} 07:20 RonS regn...+7% w/ good study endpoint...6.5 mil sh short
[13:21] {RonS} cancer drug
[13:41] {dino} out vdsi .67, +.53
[13:44] {Threei}  nice
[13:46] {dino} out nbr .80, +.30
[13:46] {dino} ty
[13:50] {patience} vad, any thoughts on slw?
[13:50] {Threei}  not really
[13:50] {Threei}  I don't know why it cl,imbs on that speech
[13:51] {patience} ok, might peel out half
[13:51] {patience} ty
[13:51] {Threei}  keeping rates low, fine, but QE2 is confirmed to en in June
[13:51] {Threei}  end
[13:52] {patience} sold half, leaving rest to run
[13:53] {patience} comex closes in 8 minutes doesn't it?
[14:01] {gregns} SLW breakdown of .30 ?
[14:02] {Threei}  not sure
[14:03] {tomg}
[14:06] {patience} ty
[14:07] {tomg} yw :)
[14:16] {jfjf64} slw  grr
[14:16] {jfjf64} wanted to short break
[14:23] {RonS} The Ber-nank....thinks he has no responsibility that he has caused inflation
[14:23] {nemo} X
[14:24] {RonS} great quote today:  so, is steel the new dollar?
[14:26] {nemo} SLW
[14:27] {Threei}  (US) Senate Majority Leader Reid calls for a fast vote to remove oil subsidies for oil companies, as expected- Reminder on 4/26: US President Obama reiterates calls for end to tax breaks to the oil and gas industry; could use the money towards investment in clean energies
[14:28] {RonS} b's q's starting: first: "so how do you keep your beard so even?"
[14:28] {nemo} shorted x .49
[14:29] {nemo} cover half .30
[14:29] {jfjf64} s   slw   .36
[14:30] {Threei}  (US) Fed's Bernanke: To reflect consensus of FOMC committee; Reiterates Fed prepared to adjust its holding of assets; Underlying inflation remains subdued
[14:30] {Threei}  - New claims on unemployment show modest improvement
[14:30] {Threei}  - Sees moderate recovery to persist through 2011; Acceleration of growth seen into 2012-13.
[14:30] {Threei}  - Unemployment rate remains above the FOMC central tendency of 5.2-5.4%.
[14:30] {Threei}  - Lower 2011 growth projections are the result of weak Q1.
[14:30] {Threei}  - Short term rise in inflation has not prompted FOMC to raise rates at thsi time.
[14:30] {Threei}  - Continues to monitor for 2nd round effects of inflation.
[14:30] {Threei}  Q/A: - Expecting relatively weak GDP number for Q1, perhaps below 2%
[14:31] {jfjf64} out
[14:31] {jfjf64} .20
[14:31] {RonS} gj
[14:33] {jfjf64} bounce here
[14:33] {jfjf64} imo
[14:33] {jfjf64} didnt tk
[14:34] {jfjf64} sounds very nervous
[14:34] {jfjf64} bern ake
[14:35] {nemo} covered more .20
[14:36] {jfjf64} what ya in nemo
[14:36] {nemo} [14:29] {nemo} shorted x .49
[14:37] {jfjf64} gj
[14:39] {nemo} I'll be out if this gets above .32
[14:39] {jfjf64} think lower nemo
[14:40] {jfjf64} still in
[14:40] {nemo} yeah, saw the trend line
[14:40] {nemo} on the 5 min
[14:41] {nemo} only 100 shares left
[14:42] {nemo} although, it's looking rough now
[14:42] {jfjf64} what happen to 3i    sleepin
[14:42] {nemo} monastery
[14:42] {Threei}  no
[14:42] {Threei}  ignoring ya'll deliberately
[14:42] {jfjf64} drinkin
[14:42] {jfjf64} ahh
[14:43] {jfjf64} slw  .50
[14:43] {jfjf64} longgggggggg
[14:43] {jfjf64} ??
[14:43] {nemo} yeah, thinking about that
[14:43] {nemo} think maybe take it from .35 if it holds
[14:43] {nemo} breakouts are iffy to me right now
[14:44] {Threei}  yeah, I'd rather try aggressive entry
[14:44] {Threei}  watch SPY
[14:44] {Threei}  see if it gives a signal
[14:45] {jfjf64} .45
[14:45] {nemo} took .36 and partialed .42
[14:45] {jfjf64} nice
[14:45] {nemo} yeah, cuts my risk
[14:46] {patience} remember when QE2 used to be the name of a ship
[14:46] {nemo} she sunk too
[14:46] {nemo} might buy back if it comes to .36
[14:48] {nemo} volume push over .45 I'll buy .46 too
[14:48] {RonS} "stocks up means I'm right" - the BER-NANK
[14:48] {patience} he keeps talking, but i think he keeps saying the same sentence with words in different order
[14:49] {jfjf64} agree
[14:49] {jfjf64} in.45
[14:49] {nemo} no volume
[14:51] {jfjf64} sell half
[14:51] {nemo} yep
[14:51] {nemo} look .60
[14:52] {nemo} took .65 for 1/4
[14:52] {Threei}  US) Fed's Bernanke: QE 2 program to be done pretty much without tapering, end of program unlikely to have substantial impacts on the economy or inflation
[14:52] {Threei}  - Q&A- markets have well anticipated this step
[14:52] {Threei}  - Confirms will keep balance sheet stable at end of QE 2 program and reinvest assets - A likely early step would be to stop reinvesting all or part of maturing assets, which would reflect a policy decision and be considered 'tightening'
[14:52] {Threei}  - Will continue to make judgments whether additional steps are warranted.
[14:52] {Threei}  - Reiterates belief that QE2 program was effectice, saw reduced volatility; were clear from the beginning that the program was not going to be a panacea
[14:52] {Threei}  - Tradeoffs for QE 2 are starting to become less attractive
[14:54] {Threei}  beautiful break play
[14:54] {nemo} last quarter trailing stop to .59
[14:54] {nemo} Well, I thougth it was a good support play
[14:54] {nemo} thought
[14:54] {patience} good questions coming out
[14:56] {Threei}  the only good and truly relevant question I can think of is: Ben, are you insane?
[14:56] {nemo} he couldn't answer that accurately
[14:56] {Threei}  no
[14:56] {Threei}  but that doesn't diminish the value of the question
[14:58] {Threei}  - Fed has no specific tools to address long term unemployment, as it is outside of monetary policy
[14:58] {Threei}  - Hopeful that S&P's outlook change for the US debt may spur Congress to action
[14:58] {Threei}  - Cuts made thus far in budgets are not likely to impact short term economic outlook; addressing the long term unsustainable deficit is a "top priority"
[14:58] {patience} punt
[14:59] {Threei}  so, after months and months of "QE2 is aimed at unemployment", suddenly it's
[14:59] {Threei}  Fed has no specific tools to address long term unemployment?
[14:59] {nemo} I'm out .94
[15:00] {Threei}  how many times have I asked how on earth buying treasuries helps to employ people
[15:00] {nemo} never was, just supporting the banks
[15:03] {nemo} still in JF?
[15:09] {nemo} dumped the last 100 X at .25
[15:11] {RonS} 3i, where's mags?
[15:11] {Threei}  dropped by a week ago
[15:11] {nemo} they're letting him out in a couple of weeks
[15:11] {Threei}  said should be away for a week or two more
[15:12] {nemo} they have to get the meds right
[15:12] {nemo} he doesn't want to end up like me
[15:12] {RonS} coulda used him on that regn today...
[15:12] {nemo} that was his bread and butter
[15:12] {nemo} any bets on big gap up tomorrow?
[15:13] {RonS} on what?
[15:13] {nemo} market
[15:13] {nemo} indexes
[15:13] {RonS} dunno, but commodities will be
[15:14] {RonS} thanks Ben
[15:14] {jfjf64} you bet
[15:16] {patience} gold is up $22 today and my goldcorp is only up .34 cents.   TSX is slightly negative   SLW up because of shortage of physical silver for short covering needs to turn strongly positive for me to hold overnight.
[15:20] {Threei}  USD chart is impossible to look at without tears
[15:23] {patience} 2 trading days for rest of the month....i'm thinking down days....just sold last half of slw
[15:46] {Threei}  last one?
[15:46] {Threei}  SLW 42 break short
[15:47] {Threei}  1:1
[15:49] {Threei}  tyhsnk yuou all, have a nice evening
[15:49] {Threei}  see you tomrriow
[15:49] {patience} ty vad
[15:54] {larisa} bye :)
[15:54] {dino} thx all, calling it a day