Monday, May 16, 2011

May 16 2011

Carbon copy of the last week so far - slow, boring but profitable.

Session Time: Mon May 16 00:00:00 2011
[08:50] {Threei}  (GR) Greece has agreed to take stronger approach to spending and raising revenue, adopts 'more realistic' goals for economy - financial press citing EU and IMF executives
[08:50] {Threei}  - Agrees to additional spending cuts and clearer revenue targets; talks are not yet over with more information on asset sales and fiscal plans still needed
[08:50] {Threei}  - EU and IMF inspectors still see gaps in Greek plans and still need answers from Greece on fiscal plan, sell-offs to conclude visit
[08:51] {Threei}  additional spending cuts? they have riots on the streets as it is
[09:17] {Threei}  (EU) Germany Fin Min Schaeble: The IMF will be able to handle the ongoing euro zone crisis; EU is on track to approving aid for Portugal
[09:17] {nemo} I feel better already
[09:17] {davd} ah another sex scandal
[09:17] {Threei}  don't because:
[09:17] {Threei}  (EU) Netherlands Fin Min de Jager: Greece is not on the right track; Greece requires additional austerity before more money can be givenNeeds to hear further measures Greece intends to incorporate
[09:17] {Threei}  - Portugal must work out its economic reforms
[09:18] {dino} gm all
[09:18] {Threei}  dino :)
[09:18] {Threei}  davd, you mean EU and Portugal? {G}
[09:21] {davd} imf head and hotel maid
[09:21] {Threei}  I know :)
[09:21] {larisa} gm :)
[09:21] {Threei}  larisa :)
[09:21] {Threei}  but EU and Portugal fall under definition too... just as EU and all others
[09:23] {davd} yes portugal is raping eu :P
[09:24] {davd} or a wood allen would say, greece is trying to do to germany what imf tried to do to the maid
[09:25] {Threei}  (GR) Belgium' Fin Min Reynders: Greece will have to make another step in program; hopeful for a deal on a Portugal program today, and can assist Greece without moving it towards default
[09:25] {Threei}  (GR) EU Commission: 50% haircut on Greek debt would still not bring debt to GDP ratio below 100%
[09:26] {dino} lol davd
[09:29] {Threei}  don't be surprized but... looking at SLW short,
[09:29] {Threei}  .65 break
[09:29] {Threei}  need spread to tighten
[09:30] {Threei} Short Setup: SLW  .65 break if stays under .75
[09:31] {Threei}  invalidated
[09:32] {jfjf64} mornin
[09:32] {Threei} Short Setup: SLW  .70 break
[09:32] {Threei}  jf :)
[09:32] {Threei}  if stays under .80
[09:33] {Threei}  invalidated
[09:33] {nemo} I took it long .81
[09:33] {Threei}  yup
[09:33] {nemo} half out .06
[09:33] {gregns} gj nemo
[09:34] {nemo} stop .94
[09:34] {Threei}  (US) Treasury Sec Geithner reiterates that debt limit needs to be raised by August 2- notes will access two federal retirement funds as part of special measures to deal with reaching debt ceiling
[09:34] {Threei}  - Treasury affirms debt ceiling will be reached today, as expected (special measures expected to extend Treasury's abilities through to August 2)
[09:34] {nemo} ltna .31
[09:34] {nemo} half out .41
[09:35] {nemo} 1/4 more slw .20
[09:35] {Threei} Short Setup: RIMM  .90 break
[09:35] {nemo} 1/4 more tna .91
[09:36] {nemo} stop tna .79
[09:37] {Threei}  RIMM correction, .15 break
[09:37] {Threei}  if stays under .25
[09:37] {Threei}  1:1
[09:38] {nemo} out slw .28
[09:38] {nemo} dummy
[09:38] {nemo} still in tna
[09:39] {nemo} out if she drops .90
[09:39] {Threei} Short Setup: SLW  .30 break
[09:39] {Threei}  if stays under .40
[09:40] {nemo} out tna .89
[09:40] {Threei}  .40 new trigger
[09:40] {Threei}  10 cents ranges from here
[09:41] {nemo} frig, shaken out of tna ,should have stuck with .79 as stop
[09:41] {Threei}  1:1
[09:42] {Threei}  same setup again
[09:42] {Threei}  .60 break
[09:42] {Threei}  not a scalp
[09:43] {Threei}  target .25 at least
[09:43] {Threei}  1:1
[09:43] {Threei}  stop .66
[09:46] {Threei} Long Setup:  X  .20 break
[09:46] {Threei}  half lot
[09:46] {Threei}  stop under .10
[09:46] {Threei}  1:2 target, two partials
[09:48] {Threei}  no go X
[09:49] {dino} vit sm l .00
[09:52] {Threei} Long Setup:  FCX  .90 break
[09:53] {Threei}  stop under .80
[09:53] {Threei}  1:1
[09:55] {Threei} Long Setup:  RIMM  43 break
[09:55] {Threei}  stop under .90
[09:57] {jfjf64} what ya tk ya viatimins today
[09:57] {Threei}  held by fingertips
[09:58] {nemo} numbers in 2 minutes
[09:58] {jfjf64} gold  stocks   look  ready  for  explosion
[09:59] {dino} vit stop -.21
[10:00] {Threei}  out RIMM
[10:00] {Threei}  flat
[10:00] {Threei}  *(US)MAY NAHB HOUSING MARKET INDEX: 16 V 17E
[10:01] {Threei}  great, now it goes
[10:03] {Threei}  X was a rinse
[10:04] {RonS} dollar driven 3i...
[10:04] {Threei}  (GR) ECB's Bini Smaghi: Greece debt restructuring would create contagion in the euro zone and would not solve the sustainability issue
[10:04] {Threei}  - An extension of Greek debt maturities could trigger a credit event.
[10:04] {Threei}  - Greece needs more long-term financial aid.
[10:04] {Threei}  - Debt restructuring would not be a positive for Europe.
[10:04] {Threei}  yeah
[10:07] {ese} morning,,,,,,,,, slept n
[10:07] {Threei}  ese :)
[10:09] {dino} vit rinsed
[10:10] {Threei}  9% Rate Economy Good or Excellent, 54% Say Poor
[10:12] {Threei} Short Setup: X  .50 break
[10:14] {Threei}  dollar is trying to green a bit
[10:15] {Threei}  invalidated
[10:22] {Threei}  watch NVDA for long entry if pulls back to .80
[10:30] {dino}  wlk sm l .73, stop lod
[10:30] {jfjf64} syk
[10:34] {Threei} Short Setup: SLW  .80 break
[10:35] {Threei}  invalidated
[10:38] {Threei} Short Setup: SLW  .90 break
[10:38] {Threei}  stop is obvious
[10:39] {Threei}  target 1:3
[10:39] {Threei}  1:1
[10:39] {ese} L DAR .74
[10:40] {ese} stop .64
[10:41] {nemo} SLW has vwap support at .65
[10:42] {ese} use intelliscan to get that vwap scan?
[10:42] {Threei}  scalpers win
[10:42] {nemo} no, it's built in to
[10:43] {ese} ahhhhhh......
[10:43] {ese} out 1/2 dar }87
[10:44] {ese} balance to break even .75
[10:44] {Threei}  there are a few alerts with it in Iscan, ese
[10:44] {ese} break even is .74 but for the commish
[10:44] {Threei}  crossed above or below VWAP
[10:44] {Threei}  positive ir negative divergence
[10:45] {ese} ya ....have seen it ....just wonder how effective nemo has found it....vwap trigger
[10:45] {nemo} here ese:
[10:45] {nemo} it just gives you additional geography
[10:46] {Threei}  as if we weren't confused enough with what we have
[10:46] {ese} ya for sure
[10:47] {dino} indeed
[10:47] {nemo} I find iwm and spy often obey around the vwap
[10:47] {ese} tks
[10:48] {nemo} as a matter of fact, look at iwm and spy this morning with the vwap
[10:48] {ese} thats cool nemo......runs it as a moving average....i didn't know that it was there
[10:49] {nemo} yeah, I watch the reaction of the stocks at the levels,
[10:51] {ese} have you ever thought about subscribing to free stock charts
[10:51] {nemo} not really, don't seem to need any of the other functions
[10:52] {RonS} and have the name change to "notsofree"?
[10:52] {ese} lol
[10:52] {nemo} it's a stepping stone to get you to Telecharts
[11:00] {ese} what time frame do you use the vwap 1min, 5min?
[11:01] {nemo} all of them, it calculates vwap for that day
[11:01] {nemo} it's consistent across time frames
[11:01] {ese} out
[11:02] {ese} dar stop to .85
[11:02] {ese} am not out...miss print
[11:03] {RonS} better than missed(ed) out
[11:03] {ese} out now DAR .00 +.26 on blance
[11:03] {RonS} gj ese...greater fool theory, eh?
[11:04] {ese} tks
[11:04] {ese}'s a new word..."blance"
[11:04] {ese} shortens up balance nicely........vad would be proud
[11:04] {Threei}  I am
[11:05] {ese} lol
[11:07] {Threei}  USD is on a smooth slide today, and SPY is on just as smooth rise
[11:08] {Threei}  amazing how market became a currency trade
[11:11] {Threei} Short Setup: RIMM  .20 break
[11:11] {Threei}  if stays under .30
[11:21] {RonS} where's jf w/ the war cry...
[11:21] {Threei}  lol
[11:21] {RonS} dieeeee.....
[11:22] {jfjf64} jf quiet
[11:22] {jfjf64} today
[11:22] {RonS} ug
[11:22] {Threei}  must be snowing in hawaii
[11:22] {Threei}  1:1
[11:22] {jfjf64} dieeeeeeeeeeeeeeeeee
[11:22] {RonS} ty
[11:27] {RonS} ...finally rimm .21 to .04  thanks 3i...and jf
[11:28] {Threei}  :)
[11:28] {_mohamad} -
[11:29] {Threei}  who are you grading with that minus
[11:33] {nemo} hey ese, go to free stock charts activate vwap and look where rimm bounced
[11:33] {Threei}  don't do it ese
[11:34] {Threei}  I don't know where the catch is but coming from nemo it just has to have one
[11:36] {davd} i see it - off the vwap
[11:36] {nemo} no catch, just the ugly truth
[11:36] {davd} nemo gets 50c per visit
[11:36] {Threei}  yeah buit truth sues him for defamation
[11:39] {RonS} dunno 3i, story from many that have credence 3i is that fundie traders are graded by capturing vwap ave or better for buy or sell programs
[11:40] {RonS} graded and paid accordingly
[11:41] {Threei}  ummm
[11:41] {Threei}  if that's true, then what is the role of skill at all?
[11:42] {Threei}  vwap is calculated and available for anyone who bothers to look, no skill required
[11:42] {Threei}  any monkey from the street can be trained to bid under it or offer above it
[11:42] {nemo} pivots and vwap are just landmarks on the geography that regularly have an effect.  It allows me to moderate my focus so I don't exhaust myself
[11:43] {Threei}  not what I am saying nemo
[11:43] {RonS} well...if you had 100k's or millions to place or was having someone else do it how would you gauge performance?
[11:43] {nemo} I understand, just telling you what they mean to me
[11:43] {Threei}  Ron.. by the result? :)
[11:44] {Threei}  novel concept for the industry, I know :)
[11:45] {RonS} but the fund manager puts out the orders...the traders have to execute this has become their criteria
[11:45] {Threei}  well, then I must ask: why this job would be anything but minimum vage?
[11:45] {Threei}  wage
[11:46] {RonS} in other words manager says buy 100k sh rimm today...get vwap get slary get vwap + 10% berter get al
[11:46] {Threei}  right
[11:46] {RonS} better
[11:47] {Threei}  so, tell me... if you were a trainer for this job, how long would it take you to train a complete newbie to do it?
[11:47] {Threei}  high school educated
[11:47] {Threei}  walk in from the street
[11:47] {Threei}  not a total imbecile, but lacking any skills
[11:47] {Threei}  would it be any longer than burger-flipping?
[11:48] {Threei}  I asm not saying it's not true... could be
[11:49] {Threei}  but if it is, then this job is no longer one that requires skill
[11:49] {Threei}  and won't be desirable high end job for much longer
[11:51] {RonS} at least there is some performance criterion here, unlike coporate ceo or the freakin government
[11:52] {Threei}  yeah
[11:52] {Threei}  a few weeks ago I was contacted by a fund that runs OPM
[11:53] {Threei}  matter of discussion - managing part of their portfolio for the active intraday trading
[11:53] {Threei}  single criteria of being paid: profit
[11:55] {Threei}  so... I guess I'll tell them off... as long as I get prices bettwer than WVAP, I expect to be paid :)
[11:57] {Threei} Short Setup: CAT  .40 break half lot
[11:57] {Threei}  stop above .50
[12:03] {Threei}  1:1
[12:07] {dino}  2357 ndx gap filled
[12:07] {Threei}  over 1:2
[12:07] {Threei}  out
[12:24] {dino} vtus drop
[12:34] {dino} sm l vtus ave .74
[12:43] {Threei}  IMF's Strauss Kahn ordered to be held without bail following defense attorney request for $1M bail amount- Next court appearance scheduled for May 20
[12:44] {Threei}  (PO) EU Finance Ministers agree on 78B Portugal rescue package
[12:44] {Threei}  - Note that an unnamed European ministed noted that there was also an understanding that Greece will need further funding.
[12:44] {Threei}  - European nations are said to be pushing for collateral on any new loans.
[12:44] {Threei}  - European partners remark that Greece's privitization plans are unambitious.
[12:44] {Threei}  - One proposal call for establishment of a panel of outside experts to conduct Greek asset sales.
[12:44] {nemo} ese, look where clf bounced
[12:45] {nemo} oh...he leeft
[12:52] {RonS} aapl lod
[12:56] {davd} amzn too lod
[12:56] {davd} weak hi flyers
[12:59] {Threei}  once again, pure currency move
[13:00] {davd} i dont see it 3i - uup sitting firm down .1?
[13:01] {Threei}  UUP moved up from 21.55
[13:01] {Threei}  sending market down, AAPL and AMZN with it
[13:01] {Threei}  see it?
[13:02] {davd} yeesh who sees amzn support level?
[13:03] {Threei}  195 on daily
[13:03] {davd} ii - see it
[13:03] {dino} wlk sm l .01
[13:03] {Threei}  after that, bottomless for another 10 bucks or so
[13:05] {dino} vit sm l .05
[13:09] {davd} l x 45.3
[13:10] {dino} nit stopped again
[13:10] {dino} vit
[13:11] {RonS} oil futes knifing through s1 97.48
[13:11] {nemo} down or up
[13:12] {RonS} down but now hovering...
[13:12] {nemo} mmmhhh....haven't insulted you today, must be slipping
[13:13] {RonS} es new order flow neg low
[13:16] {davd} amzn 195.37 is 10 day low
[13:16] {RonS} sorry, previous post s/b nq
[13:18] {RonS} feels like everything is trying to catch a falling knife...will be looking for the algo buyers to set the low
[13:19] {RonS} or 3i of course...
[13:19] {Threei}  lol
[13:21] {Threei}  watching SKW for short on 34 break
[13:22] {Threei}  SLW
[13:22] {Threei}  not ready yet but if consolidates abit...
[13:22] {Threei}  and helped by that same onmnipresent UUP of course
[13:29] {Threei}  Imax Corp Ticking higher on chatter the CEO may have pulled out from an upcoming conference- NOTE: IMAX is scheduled to present at a JP Morgan tech conf on May 17.
[13:29] {davd} out x flat
[13:31] {Threei}  Trump Is Out of President Race
[13:32] {RonS} lol
[13:32] {Threei}  was he ever in?
[13:33] {RonS} ...did not want to cause a hair spray shortage...
[13:34] {nemo} nice one
[13:48] {dino}   vit rinsed twice
[13:50] {RonS} old Chinese prover: "going to laundry better than taken to cleaners."
[13:50] {RonS} proverb
[13:52] {RonS} material for 3i book on Confucianism...
[13:53] {nemo} confucianism here
[13:53] {Threei}  nope
[13:53] {RonS} or maybe his script for a new Charlie Chan movie...
[13:55] {RonS} or a book on dumbass quotes?
[13:55] {RonS} :D
[13:55] {nemo} you're the authority
[13:55] {RonS} true dat
[14:00] {nemo} JCP
[14:01] {RonS} james cash penny
[14:01] {RonS} rimm kinda strong today v aapl
[14:07] {RonS} rimm hod
[14:15] {RonS} dfs 52 week high off coh better loan loss
[14:15] {RonS} cof
[14:38] {davd} good call re amzn threei
[14:39] {davd} ... prep for self depricating joke...
[14:39] {Threei}  lol, I can't chose between them
[14:40] {Threei}  starting with simplistic 'I called amzn?"
[14:40] {Threei}  to "yeah, those chicken entrails do work"
[14:41] {davd} stopped watch correct twice a day?
[14:41] {Threei}  no, nemo has dibs on that one
[14:41] {Threei}  I tried to buy it out from him
[14:42] {nemo} send royalties
[14:42] {Threei}  but his "two boxes of Grey Goose a day" price is a bit too high
[14:42] {nemo} o.k. one a day will be
[14:42] {davd} l aapl 333.95
[14:45] {RonS} new nq fute neg order flow low
[14:48] {tomg} short this pb on slw, vad?
[14:49] {Threei}  I think so
[14:49] {tomg} ty
[14:49] {Threei}  it bounced perefectly into resistance
[15:02] {Threei}  you out yet tom?
[15:02] {tomg} yes, at .85
[15:02] {Threei}  :)
[15:05] {Threei}  up or down toward the eod
[15:06] {Threei}  my guts says up
[15:06] {Threei}  anyone has dfferent view?
[15:06] {RonS} up
[15:06] {Threei}  let's see if we can get pullback for entry
[15:06] {davd} imo up.  commodities holding and financial relatively string
[15:06] {Threei}  FCX under .60,
[15:06] {davd} strong
[15:07] {Threei}  X under .10,
[15:07] {Threei}  CAT under .10
[15:13] {davd} how does the 30yr keep going up?  i really cant believe it.
[15:13] {Threei} Long Setup:  X  .10 break
[15:13] {Threei}  if hokding 45
[15:14] {Threei} Long Setup:  CAT  106 break
[15:16] {nemo} did you mean long or short on cat?
[15:16] {Threei}  ummm
[15:16] {Threei}  15:06] {Threei} my guts says up
[15:16] {Threei}  [15:06] {Threei} let's see if we can get pullback for entry
[15:16] {Threei}  [15:07] {Threei} CAT under .10
[15:16] {Threei}  [15:14] {Threei} Long Setup: CAT 106 break
[15:17] {Threei}  I'd say, strong case made for long
[15:18] {Threei}  1:1
[15:35] {Threei}  Microsoft Corp Microsoft and Facebook expanding partnership on Bing search - financial press- Says Google cannot compete with Bing-Facebook links.
[15:36] {Threei}  remind me to back away a few steps while these behemoths are hitting each other with their foreheads
[15:41] {davd} apparently amzn server was used to hack into sony?
[15:51] {Threei}  UUP didn't look like finishing at the high today, did it
[15:51] {tomg} nope
[15:51] {Threei}  surprized me a bit
[15:53] {dino}   wow ndx -1.8% today
[15:54] {dino} next gap areas 12086, 2306, 1312
[15:57] {Threei}  (US) S&P500 testing 1,329 - lowest level since Apr 20th
[15:57] {Threei}  hmmm
[15:57] {Threei}  what is the point of picking arbitrary date and comparing current price with that?
[15:58] {dino} need something to say i guess
[15:58] {Threei}  yeah... what is it about Apr 20 that makes it special? :)_
[15:58] {tomg} Hitler's birthday
[15:58] {Threei}  lol
[15:59] {tomg} :)
[16:00] {Threei}  thank you all
[16:00] {Threei}  havea good evening, see you tomorrow
[16:00] {dino} slow day for me
[16:00] {tomg} thanks vad
[16:00] {Threei}  same here dino, but still in green
[16:01] {dino} gj
[16:01] {dino} been off my game last two days
[16:01] {nemo} My open cinched it for me
[16:03] {Threei}  that was nice long
[16:03] {Threei}  fading the setup
[16:03] {dino} gj nemo
[16:03] {dino} gn all
[16:03] {tomg} gn dino,all
[16:04] {tomg} i wanted to take that break of .80 this a.m. but no guts
[16:04] {tomg} anyway, gj nemo
[16:05] {larisa} bye :)