Wednesday, June 29, 2011

Jun 29 2011

This must be the most boring day this year. Flat for us, too.

Session Time: Wed Jun 29 00:00:00 2011
[08:50] {Threei}  (GR) One Greece ruling party PASOK member, Kouroublis, has voted against the austerity measures
[08:50] {Threei}  **Reminder: On Jun 27th The financial press noted that support for fiscal plan among Greek ruling party (Pasok) MPs was wavering; as many as four Pasok MPs will not vote for the plan
[08:50] {Threei}  I don't see final tally yet?
[09:05] {nemo} Yeah, you right...passed by 3 votes
[09:05] {Threei}  passed
[09:05] {Threei}  just now
[09:06] {Threei}  - Vote has exceeded the 151 yes votes required for passage
[09:16] {Threei}  (UK) BoE's Tucker: Prevalance of shadow banks is a problem for the financial system; need to rewrite the social contract between banks and society
[09:16] {Threei}  - Euro zone problems are the biggest risk to stability at the moment.
[09:16] {Threei}  shadow banks?
[09:18] {ese} morning
[09:18] {Threei}  ese :)
[09:18] {RonS} ...who knows what lurks in the hearts of men?...
[09:19] {RonS} gm
[09:19] {Threei}  lol ron
[09:19] {Threei}  feeling all shakespearish this moring?
[09:20] {RonS} ...The Shadow knows...old catch line from '30's radio show
[09:20] {nemo} "evil"
[09:21] {dino} gm all
[09:22] {Threei}  dino :)
[09:22] {larisa} gm :)
[09:22] {Threei}  larisa :)
[09:22] {dino} "social contract"? wtf is that nonsense
[09:23] {nemo} that's been a part of political dialogue in post WWII era
[09:23] {Threei}  that deputy is going to be next PM
[09:29] {dino} yes
[09:29] {jfjf64} mornin
[09:30] {Threei}  jf :)
[09:30] {Threei}  RBY is decimated'
[09:30] {nemo} shaw hit hard
[09:32] {Threei} Short Setup: SLW  .90 break
[09:32] {Threei}  1:1
[09:33] {samire} just entered the room
[09:33] {samire} looks like u are in a trade ?
[09:33] {ese} just saw that nemo
[09:33] {ese} couldn't get in
[09:34] {Threei}  we are already out samire, or at least partially out
[09:34] {samire} which stock ?
[09:34] {Threei} Short Setup: FCX  .20 break
[09:35] {Threei}  SLW
[09:35] {Threei}  you are using mibbit, don't you have last few lines re-played?
[09:35] {dino} qqq sm s .99
[09:36] {Threei}  FCX invalidated
[09:36] {jfjf64} whos  on  1st
[09:37] {Threei}  klooking for second entry on SLW
[09:39] {samire} was the first trade long or short  ?
[09:39] {Threei} Short Setup: FCX  .50 break
[09:40] {Threei}  short samire... don't you havbe replay of last few lines??
[09:40] {samire} no
[09:40] {Threei}  mibbit has it on by default
[09:41] {Threei}  FCX 1:1
[09:46] {samire} where is dino
[09:46] {nemo} he's here
[09:46] {dino} here, where are you?
[09:46] {samire} it is you day din0
[09:47] {samire} din$
[09:47] {dino} time will tell
[09:47] {samire} your not you
[09:48] {dino} no, i'm me
[09:49] {Threei} Long Setup:  SLW  .65 break
[09:49] {Threei}  invalidated
[09:50] {Threei}  but looking for another trigger
[09:50] {Threei}  .55 break
[09:50] {Threei}  if holding .45
[09:51] {Threei}  target .75, could be more
[09:52] {dino} whr sm s .25
[09:53] {Threei}  fingertip holder
[09:53] {Threei}  nail biter
[09:53] {Threei}  storm braver
[09:53] {nemo} oh, am in .51
[09:53] {Threei}  now, turn into ass kicker and we will forgive you for everything
[09:54] {nemo} me, or slw?
[09:54] {Threei}  SLW
[09:54] {Threei}  you won't be forgiven ever
[09:54] {nemo} I was gonna' say...I'm a pacifist
[09:54] {Threei}  rrright
[09:54] {samire} we came close to stop
[09:54] {Threei}  let's try to take two partials, then see how it goes
[09:54] {nemo} only fruit and vegetables, tie dye and Birkenstocks for me
[09:56] {Threei}  and tiley hat?
[09:57] {nemo} Housing numbers soon
[09:57] {Threei}  no go
[10:00] {Threei}  *(US) MAY PENDING HOME SALES M/M: 8.2% V 3.0%E; Y/Y: 15.5% V -26.8% PRIOR
[10:00] {samire} good numbers
[10:00] {nemo} month to month don't mean squat
[10:01] {RonS}  sucky base too
[10:02] {dino} sell the news
[10:03] {Threei}  (US) IMF: US growth seen under 3.0% for the next half decade; Debt ceiling should be raised quickly to avoid severe shock to economy
[10:03] {Threei}  - Forecasts 2012-13 GDP growth at 2.7%
[10:03] {Threei}  - Downside risks to US economy have increased with Housing, unemployment and fiscal problems
[10:04] {dino} gut -100+ today
[10:04] {Threei}  I agree
[10:04] {nemo} just had two big up days
[10:04] {Threei}  and market played out Greece ptognosis already
[10:06] {ese} 2/3% GDP growth is relatively normal isn't it?
[10:06] {ese} slow is good anyway
[10:07] {nemo} no, because of the deficits
[10:07] {Threei}  not withg unemployment at these levels
[10:07] {Threei}  and deficits sufficating economy
[10:07] {dino} need 5% to make it work
[10:07] {RonS} not coming out of a recession
[10:08] {Threei} Short Setup: SLW  .20 break
[10:09] {ese} doom and gloom is heading imo
[10:11] {ese} what H has been priced into the market these last 2 months....7 or 8 weeks dn correct
[10:11] {ese} heading up
[10:11] {RonS} stagflation...w/ broad demographics being a major drag
[10:11] {ese} what the H
[10:13] {Threei}  invalidated
[10:13] {nemo} took .27 long
[10:13] {RonS} wtg
[10:13] {nemo} half at .38
[10:14] {nemo} target .55-65
[10:14] {ese} nice nemo
[10:14] {jfjf64} nice  nemo
[10:15] {nemo} huge seller at .25 and .26, bought when lifted
[10:15] {dino} gj
[10:15] {Threei}  nice, and stop was very tight
[10:15] {nemo} yeah
[10:18] {nemo} stop is now .40 after theat big volume candle
[10:19] {nemo} took some more off .48
[10:29] {RonS} oil report 1 min
[10:30] {Threei}  *CRUDE: -4.4M V -1ME; GASOLINE: -1.43M V 0E; DISTILLATE: +260K V +1ME; UTILIZATION: 88.1% V 89.3%E
[10:31] {nemo} .85 level fcx
[10:31] {ese} L RENN .06
[10:41] {dino}   qqq cov stop -.25
[10:42] {RonS} oil to pre spr release announcement...94.50
[10:42] {nemo} out .60 slw
[10:42] {Threei}  wtg
[10:42] {dino} gj
[10:43] {ese} nice job nemo
[10:43] {nemo} ty for setup Vad...saw all that selling at .25-.26 then it lifted
[10:43] {Threei}  too bad you haven't alerted us
[10:44] {Threei}  we would join you gladly
[10:44] {nemo} you had a short on, didn't want to confuse the room
[10:44] {Threei}  would be just a two sided setup
[10:44] {nemo} weird...I thought I was actually being considerate, and we know that is anethema to my nature
[10:45] {Threei}  lol
[10:45] {nemo} Road to Hell...   No good deed...
[10:46] {Threei}  it's not like I get offended when opposite setup is pointed out, lol
[10:46] {Threei}  it's the same setup still
[10:46] {ese} you mean...." Highway to hell......ya ya ya.....Highway to Hell"
[10:46] {Threei}  just change of direction depending on what triggers first
[10:46] {dino} acdc
[10:47] {nemo} I wasn't a fan after Bon Scott
[10:47] {ese} i think so
[10:47] {samire}  tza ?
[10:48] {ese} i didn't mind them........although at that period of my like i was into Shostakovich.......Symphony no 5 and 7
[10:48] {Threei}  not sure samire
[10:49] {ese} life
[10:50] {samire} sold tza
[10:51] {Threei}  ese, I am in Brahms stage
[10:51] {Threei}
[10:52] {ese} hilarious....Leslie Nelson
[10:54] {ese} out renn .11 +.05   making money is like pulling teeth these days
[11:03] {dino} i hear ya ese
[11:04] {nemo} fdo got away
[11:05] {nemo} POT
[11:09] {RonS} ugh...light volume meltup
[11:09] {nemo} volume solid
[11:13] {nemo} anybody take POT
[11:13] {RonS} not since college
[11:13] {nemo} cute
[11:13] {nemo} beautiful setup
[11:13] {patience} i am in pot
[11:13] {patience} yesterday was agu
[11:21] {nemo} Greek Finance Ministry set on fire
[11:21] {dino} sm s kro .66
[11:21] {Threei}  well deserved
[11:21] {Threei}  this is total sellout of the country
[11:22] {dino} just wasting more of their money
[11:22] {Threei}  with no hope to ever repay that debt, just digging deeper hole
[11:22] {Threei}  cut your frikin losses
[11:22] {Threei}  default and start rebuilding
[11:22] {dino} agree
[11:22] {Threei}  any traders among them?
[11:23] {nemo} defaulting sinks the banks
[11:23] {Threei}  cut your losses!
[11:23] {dino} agree again
[11:23] {Threei}  not defaultong sinks the country
[11:23] {nemo} in a Keynesian/big government world, banks can't fail
[11:23] {RonS} oil 95.80
[11:24] {patience} gold moving up
[11:24] {dino} germany waiting for collateral, once given they will own all of greece upon default
[11:24] {Threei}  if it goes as far as "start selling islands" - come on, this IS a sellout of the country
[11:29] {nemo} now this is a hoot:
[11:31] {RonS} Denny Crane!!!
[11:32] {nemo} thought it was Captain Kirk
[11:32] {RonS} mad cow lives...
[11:33] {dino} sfly sm s .60
[11:33] {RonS} yeah, the O on tv soon...tza l .56
[11:35] {samire} Obama will speak soon
[11:36] {Threei}  (US) US Senate has rejected bill to restrict payment of funds to the IMF, as expected - financial press
[11:36] {Threei}  because US has a lot of funds to spare, you know
[11:44] {Threei}  phrase that I can't hear anymore:
[11:44] {Threei}  tak breaks for millionares and billionares
[11:45] {Threei}  sounds right but when implemented, somehow 250K a year becomes a measurement for "millionares and billionares"
[11:47] {ese} which gold stocks are you in patience?
[11:47] {Threei}  (US) President Obama: Calls on Congress to pass pending legislation that would help create jobs; deficit negotiations have identified $1T in spending cuts
[11:47] {Threei}  - Pending bills cited by the president includes three free trade agreements, legislation on patents and funding for construction projects.
[11:47] {Threei}  - Entitlement spending must also be dealt with, although essential programs must be left alone.
[11:50] {patience} i am in hgu, a canadian etf, it consistantly moves slowly either up or down so i make the mortgage money with it   :)
[11:50] {patience} also in goldcorp at the moment
[11:51] {RonS} O bfuscation on display...
[11:52] {RonS} my fave phrase:  "eschew obfuscation"
[12:01] {dino}  bless you
[12:06] {dino} whr stop -.27
[12:06] {dino} not my market last two days
[12:14] {dino} sm sm s .01
[12:20] {dino} sm bstop to .71
[12:23] {dino} cov +.30
[12:23] {samire} gj dino
[12:25] {Threei}  ron
[12:25] {Threei}  my version
[12:25] {dino} ty
[12:25] {Threei}  Eschew Obfuscation, Espouse Elucidation
[12:27] {RonS} gj
[12:30] {dino} achoo
[12:47] {samire} lunch slow down
[12:51] {ese} L.renn .20
[12:52] {ese} had a bstop going and almost slept throught it
[13:02] {ese} out renn .30 +.10
[13:13] {dino} gj
[13:14] {ese}'s somethin at least
[13:20] {dino} hrbn drop
[13:34] {dino}  sm hod
[13:42] {ese} what did you think of the US OPEN dino......Rory was awesome
[13:46] {dino} awesome player, new guy to beat
[13:46] {nemo} FCX
[13:46] {ese} ya ....his swing is a thing of beauty to watch.....might be the most perfect swing ever
[13:53] {dino} sm sm s .28 ave
[14:00] {RonS} Kronos Worldwide, Inc. Announces A Price Increase For All Titanium Dioxide Products Sold In N Amer       06/29 12:00 PM
[14:02] {dino} sfly bstop to .31
[14:03] {dino} reverse slip cov .28, +.32
[14:05] {samire} thanx dino
[14:07] {dino} yw
[14:07] {dino} qqq s .24
[14:10] {patience} tza
[14:13] {nemo} it's above vwap
[14:15] {dino} sm bstop to .98
[14:15] {dino} to .88
[14:16] {dino} cov .88, +.40
[14:17] {dino} qqq bstop to .21
[14:18] {Threei}  nice
[14:18] {ese} yup
[14:18] {Threei} Short Setup: POT  57 break
[14:19] {nemo} .61 fcx
[14:20] {nemo} 1/2 out .70
[14:22] {nemo} stop .54
[14:23] {dino} qqq to .13
[14:24] {dino} to .08
[14:27] {dino} cov qqq .06, +.18
[14:27] {dino} kro bstop to .49
[14:28] {dino} cov .46, +.20
[14:31] {nemo} fcx volume
[14:34] {Threei}  stop to .06 POT
[14:34] {Threei}  held too well
[14:37] {dino} ugh sm
[14:43] {dino} mos sm s .00
[14:45] {dino} mos stop -.06
[14:45] {nemo} shit missed tna double bottom
[15:08] {Threei}  ok... which way into close?
[15:09] {Threei}  my feel is up
[15:10] {Threei} Long Setup:  FCX  .85
[15:10] {dino}  v spike
[15:11] {RonS} Final Fed debit-card draft calls for 23.9 cent fee       06/29 01:10 PM
[15:11] {RonS} Initial Fed draft rule was for 7c to 12c fee cap       06/29 01:10 PM
[15:12] {dino} ebay spike
[15:12] {RonS} this helps paypal?
[15:12] {Threei}  probably
[15:12] {dino} dk
[15:12] {Threei}  V halt
[15:13] {Threei}  circuit breaker
[15:13] {Threei}  MA rtoo
[15:14] {ese} cya all tomorrow.........we'll grind it out again
[15:14] {Threei}  take care ese
[15:14] {RonS} cya ese
[15:15] {dino} rmti sm l .00 break
[15:17] {Threei}  wy did I bother t wake up today?
[15:31] {Threei}  (EU) EU's Barosso: EU will propose a financial transaction tax (Tobin Tax) to help increase revenue for EU budget
[15:31] {Threei}  ***Note that earlier today, the Italian government proposed a 0.15% financial transaction tax (Tobin tax) as part of its austerity package.
[15:31] {Threei}  imbeciles
[15:45] {Threei}  the candle on V daily is wow
[15:49] {Threei}  incredibly boring day
[15:50] {Threei}  expected much more from this, considering whole Greece thing
[15:50] {Threei}  I guess vote NO would give us what to trade
[15:51] {Threei}  ok guys, not much is happening even into close
[15:51] {Threei}  have a great evening, see you all tomorrow
[15:52] {larisa} bye :)
[15:52] {patience} ty Vad
[15:55] {dino} cya 3i