Thursday, May 12, 2011

May 12 2011

Another day by the same scenario: nice active profitable morning, then deep coma.

Session Time: Thu May 12 00:00:00 2011
[08:34] {Threei} (US) INITIAL JOBLESS CLAIMS: 434K V 430KE; CONTINUING CLAIMS: 3.756M V 3.70ME
[08:34] {Threei} - Prior Initial Jobless Claims revised higher from 474K to 478K
[08:34] {Threei} - Prior Continuing Claims revised higher from 3.733M to 3.751M
[08:34] {Threei} - 4 week Avg claims: 436.8K v 431.3K prior
[09:10] {Threei} IMF Official: Latin American countries should prepare for potential declines in the price of commodities in the future
[09:11] {Threei} interesting comment
[09:15] {dino} gm all
[09:15] {Threei} dino :)
[09:16] {_toodlepip} morning
[09:16] {Threei} morning toodlepip
[09:17] {Threei} SLW bounce on UUP pullback
[09:21] {RonS} gm all...feel like i am back in the great northwet...second day of steady rain/snow spit at 38 degrees
[09:21] {Threei} Ron :)
[09:22] {larisa} gm :)
[09:22] {Threei} larisa :)
[09:22] {larisa} vad :)
[09:23] {Threei} so far, no clear opening play
[09:23] {dino} ron, that weather was pa all last month
[09:24] {Threei} RIMM daily is still of "short the living daylight out of it" but no clean entry point for now
[09:24] {Threei} keeping that on radar
[09:24] {_samire} gm
[09:25] {Threei} samire :)
[09:26] {_samire} Can I be in charge today.....making all the calls ?
[09:26] {_samire} i do not have charts !!!
[09:26] {_samire} scary
[09:26] {_samire} ando picks
[09:26] {Threei} please do
[09:26] {_samire} random picks
[09:27] {Threei} no different from our favorite dartboard method
[09:27] {_samire} i agrere
[09:27] {_samire} yes
[09:27] {Threei} competing with close second, tea leaves method
[09:27] {_toodlepip} you guys are crazy
[09:28] {Threei} there is however chicken entrails approach which we guard as corporate secret
[09:28] {_toodlepip} you should be using astrology like me
[09:28] {Threei} nah, chicken entrails is much more accurate'
[09:28] {_ebelog} Do you have any beer there while throwing at dart board makes it much more entertaining
[09:28] {Threei} sorry ebelog, folks are expected to bring their own
[09:29] {Threei} OK, SLW
[09:29] {jfjf64} mornin
[09:29] {Threei} not touching it here, rather watching for reversal point,
[09:29] {Threei} short into bounce or long into sharp selloff
[09:29] {Threei} jf :)
[09:31] {Threei} FCX is long candidate, prepare half lot, no entry point yet
[09:32] {Threei} Short Setup: SLW .80 break half lot
[09:32] {Threei} if stays under ,90
[09:32] {Threei} Long Setup: FCX .80 break
[09:33] {Threei} stop under .70
[09:33] {Threei} SLW 1:1
[09:33] {Threei} 1:2
[09:33] {nemo} SLW short, unbelievable, you never see those
[09:33] {jfjf64} ya ya
[09:34] {Threei} lol
[09:34] {Threei} FCX invalidated
[09:34] {jfjf64} how trading room OPERATES
[09:35] {Threei} Long Setup: FCX .70 break
[09:35] {Threei} if stays above .60
[09:35] {Threei} half lot!
[09:35] {Threei} volatility is still way too high
[09:35] {Threei} 1;1
[09:36] {Threei} making some discoveries jf?
[09:36] {nemo} no...busting my balls
[09:36] {jfjf64} ya ya
[09:36] {Threei} out FCX in full
[09:37] {gregns} got both, ty
[09:37] {Threei} RIMM watch for pullback entry
[09:37] {Threei} dfrom under 44
[09:37] {Threei} Long Setup: RIMM 44 break
[09:37] {Threei} stop under .90
[09:37] {Threei} 1;1
[09:37] {Threei} that was fast
[09:37] {Threei} missed personally typing an alert
[09:37] {jfjf64} too fast 4 me
[09:37] {Threei} it's all nemo's fault
[09:37] {Threei} and jf's
[09:38] {nemo} can't blame us, we're's Magoo's fault
[09:38] {RonS} caught fcx for +.17 but sheesh...
[09:38] {jfjf64} keep hunting
[09:38] {jfjf64} 7 min 3 winners
[09:38] {Threei} hey, I can blame whoever I want any time I want, I am in a free speech country
[09:39] {RonS} 7 min 3 heart attacks
[09:39] {Threei} rofl
[09:39] {Threei} sorry Ron
06[09:40] * Threei is mailing Ron defibrillator
[09:40] {RonS} lol i need it...
06[09:40] * Threei adds some diapers to the box
[09:41] {Threei} crap RIMM
[09:41] {Threei} got away
[09:41] {Threei} Long Setup: LVS .75
[09:41] {Threei} if stays above .65
[09:43] {Threei} invalidated
[09:43] {jfjf64} lvs says you left me 4 slw screw ya
[09:44] {Threei} scorned lover eh
[09:44] {Threei} X
[09:44] {Threei} watching for long
[09:46] {Threei} .50 was it... wanted one more leg down
[09:47] {Threei} still do
[09:47] {Threei} what's with CAT
[09:49] {dino} 2375 and 1335 filled
[09:50] {Threei} dino, CAST is about to become your client
[09:50] {Threei} CAT, sorry
[09:50] {dino} 2357, 1312 next gaps
[09:50] {dino} not enough drop 3i for me
[09:50] {_samire} are we in X ?
[09:50] {Threei} no, we missed it
[09:50] {_samire} from .50
[09:51] {_samire} i am paper trading first week
[09:51] {Threei} and I haven't decided whose fault it is yet
[09:51] {dino} wlk sm l ave .72
[09:52] {Threei} Short Setup: RIMM .20 break half lot
[09:52] {Threei} stop above .30
[09:54] {Threei} just a scalp most likely
[09:54] {Threei} maybe 1:1.5
[09:54] {jfjf64} ty room monitor
[09:54] {Threei} 1;1
[09:54] {Threei} 1:1.5
[09:55] {Threei} 1:2
[09:55] {Threei} Ron, how's those diapers, come handy?
[09:55] {RonS} yep
[09:55] {Threei} :)
[09:56] {Threei} just remember, if you attach defibrillator as a permanently working device, your cat might think you've gone mad
[09:56] {dino} wtg today 3i, in the zone
[09:56] {_samire} did u take any off rimm ?
[09:56] {Threei} who?
[09:57] {_samire} rimm short
[09:57] {Threei} why not?
[09:57] {_samire} are u out ?
[09:57] {Threei} it triggered fair and square
[09:57] {Threei} yes
[09:57] {_samire} targrt ?
[09:57] {jfjf64} oh boy
[09:57] {Threei} [09:54] {Threei} just a scalp most likely
[09:57] {Threei} [09:54] {Threei} maybe 1:1.5
[09:57] {_samire} what does this mean
[09:57] {_samire} 1: 1:5
[09:58] {Threei} samire got here:
[09:58] {Threei} go
[09:58] {Threei}
[09:58] {Threei} scroll down to
[09:58] {_samire} thanks
[09:58] {Threei} all explanations are there
[09:59] {nemo} [09:55] {&Threei} 1:1.5
[10:00] {jfjf64} x
[10:00] {Threei} Short Setup: X .80 break
[10:00] {Threei} if stays under .90
[10:01] {Threei} *(US) MAR BUSINESS INVENTORIES: 1.0% V 0.9%E
[10:01] {Threei} invalidated
[10:01] {jfjf64} rince imo
[10:02] {Threei} could be
[10:02] {Threei} let's see if it reestablishes
[10:02] {Threei} nah, got away
[10:02] {Threei} oh well
[10:02] {jfjf64} took it
[10:03] {Threei} aggressive entry around .90 with .95 stop was another way to play it
[10:03] {jfjf64} ty
[10:03] {nemo} surprise surprise another buyout rumor AKAM
[10:03] {jfjf64} stupid money played break long
[10:04] {dino} iphi, irf, tdsc go green
[10:04] {Threei} {Stupid Money} jf, you are so mean...
[10:05] {jfjf64} thought i was being nice
[10:05] {nemo} Vad...change JF's nick
[10:05] {Threei} to what?
[10:05] {jfjf64} oh boy
[10:05] {nemo} {Stupid Money}
[10:07] {jfjf64} pot
[10:07] {jfjf64} bounce
[10:08] {Threei} Short Setup: SLW .15 break
[10:08] {Threei} if stays under .25
[10:08] {Threei} invalidated
[10:09] {dino} hrs sdm l .27
[10:10] {jfjf64} jf luvs pot
[10:10] {RonS} took wlk .76 to 57.10 +.34 thanks dino
[10:10] {dino} panl rocking
[10:12] {dino} wtg ronzo
[10:12] {jfjf64} sorry stupidmoney luvs pot
[10:12] {dino} still in, want $1
[10:12] {dino} say no to drugs jf
[10:13] {jfjf64} lol
[10:14] {Threei} lol
[10:17] {jfjf64} ibm
[10:17] {jfjf64} dtop
[10:17] {jfjf64} watchin
[10:20] {dino} out wlk .49, +.77
[10:21] {jfjf64} nice
[10:21] {jfjf64} rats ibm
[10:21] {dino} ty
[10:21] {Threei} (US) Fed's Bernanke: Regulators are unable to exactly determine which firms are systemically important using a set formula
[10:22] {dino} hig want .96 gap
[10:23] {RonS} the bernank: "that is why i am flying by the seat of my pants"
[10:25] {dino} thats what happens when you prop up failures
[10:26] {dino} the system was not allowed to cleanse itself
[10:26] {Threei} and more risk is taken by those who see that failure carries no risk
[10:27] {Threei} while careful ones are being punished twice,
[10:27] {Threei} by not ripping the reward in case of success, and by paying to bail out failures
[10:27] {Threei} and we wonder why system rots?
[10:27] {dino} ugh wlk
[10:28] {dino} agreed
[10:29] {Threei} Long Setup: X 46 break
[10:30] {Threei} stop under .90
[10:30] {Threei} not a scalp
[10:31] {Threei} (US) Treasury's Dep Sec Wolin: Unclear whether money markets industry can be considered systemically important
[10:31] {Threei} - Comments that a roll back of the Dodd Frank legislation is not an option
[10:31] {RonS} hrs .50 wall
[10:31] {Threei} (EG) IMF: Egypt has officially requested assistance to fund approx $12B shortfall
[10:31] {Threei} 1:1, half out
[10:32] {Threei} stop to .98
[10:32] {Threei} - Notes IMF will discuss Ireland aid at May 16 meeting.
[10:32] {Threei} - Reiterates IMF might extend Greece repayment schedule.
[10:34] {dino} sm l ccih .51
[10:40] {dino} thi sm l .14
[10:46] {Threei} Long Setup: X .75
[10:46] {Threei} if stays above .65
[10:47] {Threei} just a scalp, IMO
[10:49] {Threei} (GR) Dutch Fin Min: Greece must not be allowed to move away from its recovery path and reforms
[10:49] {Threei} - Notes that a 2nd round of aid for Greece would be worse than the assistance it would provide
[10:49] {Threei} "must not be allowed"
[10:50] {Threei} coupled with denmark reestablishing borders... can you feel how whole thing unravels?
[10:50] {dino} greece is in charge, "you give us what we want or fu"
[10:50] {Threei} 1:1
[10:52] {nemo} LVS
[10:53] {dino} ccih stop-.27
[10:56] {Threei} Short Setup: RIMM .75 break
[10:58] {Threei} no go
[10:58] {Threei} first stop
[10:59] {dino} ccih rinsed
[11:28] {dino} .
[11:29] {Threei} EU) ECB's Coene: ECB has clearly indicated that the April interest rate increase was not a one-off event
[11:29] {Threei} - Market expectations for more policy adjustments are not unreasonable.
[11:29] {Threei} - Seeing a flattening of euro zone economic recovery, not a sudden slowdown.
[11:29] {Threei} - Rescheduling Greek debt would not really help the situation and there would be lots of collateral damage.
[11:29] {Threei} - ECB is still working out the details of a plan to help banks addicted to special funding.
[11:30] {RonS} guess the banks are like my wife...
[11:30] {dino} lol
[11:37] {Threei} Ron, you ever going to finish that?? :)
[11:38] {RonS} "addicted to special funding"
[11:39] {Threei} ahhh
[11:39] {Threei} so, it's not a phenomenon limited to my household??
[11:43] {dino} european leaders set to vote tuesday on naked short sale ban on sovereign debt
[11:47] {Threei} stupid is as stupid does
[11:47] {dino} run forest run
[11:55] {dino} stec is dead, thing does not move
[11:56] {RonS} stec a fork in it, eh?
[11:56] {dino} pretty much
[11:57] {Threei} lol
[11:57] {Threei} fewer than half of Americans can name the capital of Canada
[11:58] {RonS} lol...and more than all do not care...
[11:58] {Threei} okay... it's not that bad
[11:58] {Threei} could be worse,
[11:58] {Threei} could be as a salesperson of an online store I spike to once,
[11:58] {Threei} answering question about shipping to Canada he said
[11:58] {Threei} sorry we don't ship overseas
[11:59] {RonS} rotflol
[11:59] {Threei} so... as long as 51% and more realize that we share the continent, I am OK
[11:59] {RonS} seen the Discover "Peggy" commercials 3i?
[11:59] {Threei} no
[12:00] {Threei} what are those?
[12:02] {RonS} my fave so far:
[12:05] {Threei} lol
[12:05] {dino} big drop
[12:06] {dino} big sm l .51 risky
[12:07] {Threei} I was so tempted to ask big drop in what
[12:07] {dino} wise azz
[12:08] {Threei} but I resisted the temptation
[12:08] {RonS} hey i was thinkin the same thing...only...ya sure...
[12:08] {dino} figures, :)
[12:09] {Threei} we just need to assign who is abbot and who costello
[12:14] {Threei} Seabreeze Partners' Kyle Bass: Greece's restructuring will ultimaltely be felt in other periphery nations like Portugal, Ireland and Spain - CNBC
[12:14] {Threei} Big Lots Inc Hearing weakness related to Dealreporter article cautious on prospects for deal- Reminder: Heard similar reports circulated by Dealreporter in mid April
[12:14] {dino} shocking
[12:15] {Threei} (NV) Netherlands govt discloses discovery of bird flu on a chicken farm; around 9K birds to be culled - financial press
[12:15] {Threei} - Tests continue in order to discover strain of bird flu, should know tomorrow whether the birds in question were infected with a highly pathogenic form of the virus.
[12:15] {Threei} - Farms within a 3 km radius of the discovery will be screened for the virus.
[12:15] {Threei} and farmers within 5 km radius shot?
[12:19] {Threei} and here the chain reaction starts:
[12:19] {Threei} IR) Ireland Min: It is preferable to reschedule IMF and EU debts, still attempting to get long term liquidity for Ireland banks- Claims that interest rate reductions for other countries should also apply to Ireland
[12:21] {dino} these politicians should be required to take econ 101
[12:22] {RonS} just took con 101 instead...
[12:24] {dino} lol
[12:28] {dino} out big .02, +.51
[12:31] {Threei} big move
[12:32] {RonS} big 'un
[12:32] {RonS} said Al Bundy...
[12:33] {Threei} lol
[12:37] {dino} you guys are a regular bevus and butthead combo
[12:38] {dino} kro
[12:39] {Threei} (SY) EU Official: Syrian officials must change their policy towards the ongoing uprising very soon
[12:39] {Threei} {Syrian officials} How soon?
[12:40] {Threei} EU Official: very soon
[12:40] {Threei} Syrian officials: OK then... shoot them all
[12:40] {Threei} EU Official: but then change, got it?
[12:40] {dino} kro sm l .80
[12:41] {RonS} syrian response: ok, policy changed. now keep shooting.
[12:41] {RonS} oops lol
[12:42] {Threei} another one with dial-up
[12:42] {RonS} guess we need to choose...
[12:42] {RonS} who's beevus...who's butthead...
[12:43] {dino} old mtv cartoon, couple joking idiots
[12:43] {Threei} 100,000 women is raped in Democratic republic of congo a year
[12:43] {Threei} that's democracy for you
[12:44] {davd} must be hard to be a prostitute there?
[12:44] {RonS} the US Peace Corps has been covering up years of sexual assaults on female volunteers
[12:44] {dino} ohh, thats bad
[12:46] {davd} typical world view: its all the fault of the american sponsored org.
[12:48] {davd} 1pm 30yr treasur auction
[12:55] {RonS} Even before the first oil company executive testified before the Senate Finance Committee on Thursday, Sen. Sen. Orrin Hatch (R-Utah) criticized the hearing as a dog-and-pony show.
[12:55] {RonS} Lawmakers should not go down the “dangerous road” of punishing American businesses for being profitable, said Hatch, the committee’s ranking member.
[12:56] {RonS} With a photo of a dog riding a pony as a backdrop behind him, Hatch said Thursday’s hearing would only provide “political theater.”
[12:56] {RonS} He noted that contrary to what some people think, the Obama administration does indeed have an energy policy: “Are you ready for this? Their energy policy is to increase the cost of energy,” Hatch said.”
[12:57] {dino} roflol
[12:58] {jfjf64} slw ?
[12:58] {Threei} break...
[12:58] {Threei} dunno
[12:58] {Threei} chart is right
[12:58] {Threei} everything else is wrong
[12:59] {jfjf64} imo short after break
[12:59] {Threei} (US) Senate Minority Leader McConnell: Meeting with Obama on budget went well
[12:59] {Threei} good for them
[12:59] {Threei} oysters were fresh I assume
[13:00] {Threei} - White House press: Republicans and President Obama agreed on need to raise the debt ceiling; Obama called for both sides to give some ground
[13:00] {RonS} deja vu' all over again?
[13:02] {jfjf64} comon slw gimme blow off top
[13:02] {Threei} *(US) TREASURY'S $16B 30-YEAR BOND AUCTION DRAWS 4.38%; BID-TO-COVER RATIO: 2.43 V 2.51 PRIOR AND 2.53 AVG OVER THE LAST 3- 62.12% allotted at the high. - Indirect bidders take 33% of competitive bids
[13:03] {davd} D- re cnbc
[13:05] {jfjf64} s .65
[13:05] {jfjf64} slw
[13:05] {dino} 07 flying all green
[13:06] {jfjf64} using .75
[13:06] {jfjf64} dieeeeeeeeee
[13:07] {RonS} 2 mil es fute seller here
[13:07] {jfjf64} dieeeeeeeeee
[13:08] {jfjf64} 1/1
[13:09] {jfjf64} half
[13:09] {Threei} nice
[13:09] {jfjf64} stop b/e
[13:10] {jfjf64} target .45
[13:12] {dino} gj
[13:13] {jfjf64} scalpers win
[13:13] {jfjf64} lol
[13:25] {RonS} CREE up almost 10% in two days on this: Cree 231 Lumen Per Watt LED Shatters LED Efficacy Records
[13:25] {nemo} efficacy or efficiency?
[13:25] {dino} whatever it takes
[13:33] {Threei} Short Setup: X
[13:33] {Threei} .95 break
[13:33] {Threei} if stays under 46
[13:38] {Threei} let's make it two-sided setup
[13:43] {Threei} out
[13:43] {Threei} why do I bother to come out of coma?
[13:43] {jfjf64} exacktly
[13:44] {nemo} JF learn how to spell
[13:44] {nemo} eqzaktly
[13:45] {jfjf64} lol
[13:46] {jfjf64} x kill ya self
[13:47] {Threei} lol
[13:48] {jfjf64} spy i/hs
[14:15] {nemo} I'm done seeya
[14:15] {dino} cya nemo
[14:15] {Threei} take care nemo
[14:21] {dino} thi to .44 all dayer
[14:25] {dino} out +.29
[14:32] {gregns} SLW break of .40 if holding .50 ? what is your heart saying today?
[14:35] {dino} ggc drop
[14:35] {Threei} 51/49, greg
[14:38] {dino} giddy-up
[14:38] {dino} still buy the dips mode
[14:50] {_samire} Vad....I have a question
[14:51] {davd} yes?
[14:51] {_samire} How many green days you had in the last 30 trading days ? i am still on trial
[14:51] {davd} jpm had no red days last quarter
[14:51] {Threei} I didn't count
[14:52] {Threei} gotta go through the trading log and add them up
[14:52] {Threei} 3-4 I'd guess
[14:52] {_samire} in average
[14:52] {_samire} thanks
[14:52] {dino} 3i is a machine
[14:53] {Threei} and drinks WD-40
[14:54] {dino} i tease you vad, but i mean the machine part w/serious respect
[14:54] {Threei} I know... just kidding :)
[14:55] {Threei} and looking for trading application of the wisdom:
[14:55] {Threei} If it moves and it shouldnt, you need duct tape. If it doesnt move and it should, you need WD-40
[14:59] {dino} pay drop
[14:59] {dino} 5 bucks straight down
[15:00] {RonS} squeeze panl...missed
[15:00] {dino} buyout off, gap fi;;
[15:00] {Threei} greg, you went for SLW?
[15:01] {gregns} i did but then let it go when it went in the high .50's
[15:02] {Threei} I see
[15:02] {RonS} DoJ files suit to stop Verifone's Hypercom deal 05/12 12:58 PM
[15:05] {dino} odd, not buyer, so no cost
[15:06] {RonS} look hyc
[15:07] {dino} that one makes sense to drop, was being bought
[15:08] {dino} playing pay
[15:08] {dino} fast hits
[15:12] {dino} good girl pay
[15:13] {dino} .50 wall
[15:13] {dino} giddyup
[15:15] {dino} out .70, +.70
[15:16] {RonS} gj...too fast for me
[15:16] {dino} ty
[15:16] {dino} out bid .38, +.40
[15:16] {dino} thing wants 46 imo pay
[15:18] {dino} out pay .75, +.75
[15:19] {RonS} ok jumped pay for .28 to .66 on your call dino...thanks
[15:19] {dino} \wtg
[15:19] {dino} thers 46
[15:19] {dino} theres
[15:19] {dino} not sure about another here
[15:20] {dino} would like pullback to 45
[15:21] {dino} bummer, no real pullback
[15:22] {dino} in my best swiper voice, "awwww mannnnnnnnnnnn"
[15:23] {RonS} in my best magoo voice "i coulda been riiiich!"
[15:23] {dino} roflol, i'll tell him this weekend
[15:23] {dino} buck pullback
[15:26] {Threei} dino, tell him it's time to get back
[15:27] {dino} it's complicated
[15:28] {Threei} it always is
[15:28] {dino} yeah, the older i get the more complicated it gets
[15:32] {dino} back in 10 or so
[15:47] {dino} kro strange
[15:52] {dino} out hrs +.01 thing doesn't move
[15:55] {Threei} Ok guys, thank you asll
[15:56] {Threei} have a good evening
[15:56] {Threei} see you tomorrow
[15:56] {larisa} bye :)
[16:01] {dino} partial out medw .88, +.33
[16:01] {dino} thing just hangs on forever, holding for what feels like a year (3 days)