Wednesday, July 13, 2011

Jul 13 2011

Another boring day with not much to trade.

Session Time: Wed Jul 13 00:00:00 2011
[08:54] {nemo} GDX looks ripe
[08:55] {Threei}  for a break?
[08:56] {nemo} yeah...look what's going on with gold
[08:57] {nemo} would I be surprised to see pullbacks across the board on the
[08:57] {nemo} but that one likely breaks the level, watch tzoo also
[09:03] {RonS} gm...anyone have the trading symbol for the europe vix, VSTOXX?
[09:04] {Threei}  morning ron
[09:07] {nemo} looks like GDX ain't waiting
[09:08] {nemo} tzoo either
[09:12] {dino} gm all
[09:12] {Threei}  dino :)
[09:17] {larisa} gm :)
[09:17] {Threei}  larisa :)
[09:17] {larisa} vad :)
[09:25] {samire} gm
[09:26] {Threei}  samire :)
[09:26] {nemo} yep, GDX gone
[09:26] {Threei}  yes but pullbacks are the name of the game this morning
[09:26] {Threei}  for long entries
[09:26] {Threei}  GDX, probably 57.80 - 90 area
[09:27] {ese} morning.........hurts to type...spent almost all day yesterday tearing cabinets out of our rental property next door......
[09:27] {Threei}  SLW, not sure yet but want deep one
[09:27] {Threei}  ese :)
[09:29] {Threei}  (US) Fed's Rosengren: Govt austerity and continued weakness provides argument for need for easier policy stance
[09:30] {nemo} erts dump
[09:32] {ese} L apple covers .93
[09:32] {Threei} Short Setup: SLW  38
[09:32] {ese} sorry thats ZAGG
[09:32] {Threei}  break
[09:33] {samire} ok
[09:33] {Threei}  10 cents ranges from here
[09:33] {jfjf64} mornin
[09:33] {Threei}  .10 break
[09:33] {ese} out 1/2 .08 +.15
[09:33] {Threei}  1:1
[09:35] {Threei} Long Setup:  GLD  .70 break
[09:35] {nemo} gdx just running
[09:35] {ese} balance zagg stopped .93 .00
[09:36] {Threei}  stop for scalpers .64, day traders .59
[09:38] {Threei} Long Setup:  RIMM  .75 break
[09:38] {dino} a sm l .69
[09:38] {dino} stop .47
[09:40] {Threei}  invalidated
[09:40] {dino} bud sm l .50, stop .21
[09:40] {nemo} check erts, I'm short from .19, might drop again
[09:40] {Threei}  (US) Reminder: Fed Chairman Bernanke delivers semi-annual monetary policy report to House beginning at 10:00 ET (14:00 GMT)
[09:41] {Threei} Long Setup:  RIMM  .60 break
[09:41] {nemo} .52 pivot
[09:41] {samire} test
[09:41] {samire} internet
[09:41] {nemo} shorted more at .99
[09:42] {Threei}  invalidated
[09:42] {ese} L bud .48
[09:42] {Threei}  Two explosions heard in Mumbai, India
[09:42] {samire} is rimm still .60 ?
[09:42] {ese} sm as well
[09:43] {Threei}  no
[09:43] {dino} a stopped
[09:43] {jfjf64} mornin x2
[09:43] {Threei}  [09:42] {Threei} invalidated
[09:43] {Threei}  GLD rinse
Session Close: Wed Jul 13 09:45:18 2011

Session Start: Wed Jul 13 09:45:18 2011
Session Ident: #discussions
02[09:45] * Disconnected
02[09:45] * Attempting to rejoin channel #discussions
03[09:45] * Rejoined channel #discussions
[09:46] {ese} bud won't stop out
[09:46] {Threei} Long Setup:  RIMM  .40 break
[09:46] {ese} chrt pattern is a thing of beauty
[09:46] {Threei}  frikin GLD
[09:46] {nemo} watch IWM 83.75 level for tza long
[09:47] {_carson} anything work yet?
[09:47] {nemo} yeah
[09:48] {Threei}  change to .30 break
[09:48] {Threei}  stop under .20
[09:48] {Threei}  aggressive entry for .40 break which is much more powerful setup now
[09:48] {nemo} now ya tell me
[09:49] {nemo} if breaks .40 could add
[09:49] {Threei}  with potential to .60 at least
[09:49] {dino} adtn beats and drops
[09:50] {dino} sm l .75
[09:50] {Threei}  (US) Senate Majority Reid (D-NV): McConnell's debt limit solution proposal is interesting and unique
[09:50] {Threei}  what did he suggest?
[09:51] {RonS} too complicated to explain...
[09:51] {Threei}  forget about debt and borrow more, with firm promise never to repay?
[09:52] {nemo} he threw it in Obama's lap
[09:52] {Threei}  ***Reminder: On July 12th, Minority leader McConnell proposed to allow President Obama to raise the debt ceiling by $2.5T in three increments through the end of 2012. Congress could vote to disapprove each increment, but the president could veto its resolutions of disapproval, and the debt ceiling would then rise. The proposal is clearly meant to shift all the blame for raising the debt ceiling onto the president, and away from Republicans.
[09:52] {nemo} smart politically
[09:52] {RonS} ...but it gives prez authority to unilaterally raise ceiling
[09:52] {nemo} He's thinking 2012 elections
[09:52] {Threei}  no go RIMM
[09:52] {RonS} not gonna fly w/ house repubs...
[09:53] {nemo} I don't think it would with the dems either, they know it's a bullet in Obama's reelection head
[09:54] {Threei}  as far as political maneouvering goes, this is brilliant
[09:54] {nemo} yeah
[09:54] {RonS} bad, bad precedent
[09:54] {Threei}  if RIMM is a rinse, I am going to suffocate myself
[09:55] {RonS} Imperial President
[09:55] {Threei}  true Ron, but the other side of this coin is - do republicaans want to be responsible for US default?
[09:56] {Threei}  who knows who will win PR war of putting it on the other guy
[09:57] {Threei}  Reminder: Fed Chairman Bernanke's monetary policy testimony before Congress begins at 10:00ET
[09:57] {Threei}  - Bernanke will field questions about the state of the economy and will likely be asked about the potential for more quantitative easing or other stimulus action. Bernanke is expected to be more cautious about the economic outlook given recent data. He will likely be non-committal on the potential for any new stimulus, though the FOMC minutes released yesterday showed that all options are still being discussed.
[09:57] {Threei}  OK, not a rinse
[09:57] {Threei}  fair and squeare stop
[09:58] {samire} rimm is tanking
[10:01] {dino} spike
[10:01] {dino} whippy mkts today
[10:01] {samire} missed rimm on 1s
[10:01] {Threei}  can't believe it
[10:01] {Threei}  prepared alert:
[10:01] {Threei} Long Setup:  LVS  .05 break
[10:01] {Threei}  missed it by seconds
[10:02] {Threei}  no pullback for second chance
[10:04] {ese} god bless beer
[10:04] {Threei}  and damn scented candles?
[10:05] {ese} yes
[10:05] {RonS} ...and bacon...
[10:05] {ese} yes
[10:06] {dino} out bud .90, +.40
[10:07] {ese} out bud .90
[10:07] {dino} gj
[10:07] {ese} +.42
[10:07] {ese} tks dino
[10:07] {dino} np
[10:07] {ese} it's the old great minds deal
[10:08] {dino} lol
[10:08] {dino} been gap down opens on it lately
[10:08] {ese} ya 4 or 5 of them
[10:09] {dino} so we watch it
[10:09] {ese} yup
[10:11] {samire} look at gld
[10:11] {dino} a rinsed
[10:14] {RonS} puda pending
[10:14] {nemo} J Geils
[10:15] {RonS} luved that guy...what a fun band
[10:15] {nemo} what an icebreaker too:  "Geil" means "horny" in German
[10:15] {RonS} ...first i look at the purse...
[10:16] {RonS} no wonder they chanted sei geil...
[10:16] {nemo} They played the high school in the next town over in '77 outside, free concert..oy vay
[10:16] {samire} swc on 15s
[10:18] {ese} now thats cool
[10:19] {RonS} how 'bout commander cody & his lost planet airmen...
[10:19] {nemo} Yeah, forgot about them too
[10:20] {nemo} Then of course...The James Gang
[10:20] {samire} swc is working
[10:20] {RonS} ...stuck in the ozone again...
[10:20] {dino} arx l .99
[10:21] {RonS} dino think i read that arx speaks at conference at 1 edt
[10:21] {RonS} fwiw
[10:21] {dino} thx did not see that
[10:22] {samire} + .20 on swc
[10:23] {samire} quick
[10:23] {dino} wants .00
[10:23] {ese} ya know nemo....that finviz website is awesome....tks for puting me onto it
[10:23] {nemo} covers everything
[10:24] {nemo} fricking GDX
[10:24] {ese} does it ever
[10:24] {samire} super green today
[10:24] {_carson} what did u play
[10:24] {samire} swc
[10:25] {samire} on 15 minute chart
[10:25] {samire} and gld
[10:25] {RonS} dino, i was wrong...conference aerovironment not arx
[10:25] {_carson} got that $1000 all locked up samire ?
[10:25] {dino} ok
[10:26] {dino} stop is .89
[10:30] {RonS} quote of day:  fed re-investing maturities into stretchy yoga pants...w/ no jobs plenty of time for yoga...
[10:30] {Threei}  *(US) DOE CRUDE: -3.1M V -1.3ME; GASOLINE: -840K V +100KE; DISTILLATE: +2.9M V +200KE;
[10:31] {_carson} good or bad ?
[10:32] {RonS} guess good...oil still running...
[10:32] {samire} Vad......Tza on long watch  ????
[10:32] {Threei}  no
[10:32] {nemo} definitely not
[10:32] {nemo} spy likely to go to 133.12
[10:32] {RonS} samire wants to play chicken w/ freight train
[10:33] {nemo} IWM clear to 84.50
[10:34] {RonS} es futures net new trade +30k...indicates trend day...
[10:34] {RonS} sheesh just went 40k
[10:39] {dino}  out adtn .15, +.40
[10:40] {Threei} Short Setup: RIMM  .15
[10:41] {Threei}  stop above .25
[10:42] {dino} ugh adtn spiked another buck
[10:42] {dino} i am not hanging in long enough
[10:46] {dino} out swc .00, +.30 ty sami
[10:47] {Threei} Long Setup:  TZA  .40 break
[10:50] {samire} swc made my day
[10:50] {dino} arx stop -.09
[10:50] {_carson} it was .20 samire unless u went in share heavy
[10:50] {samire} ZAGG above 14.06 long
[10:51] {samire} 1000 shares
[10:51] {_carson} personally, if that makes your day then great ... but i think you should set ur targets higher imo
[10:52] {ese} am onto it samire
[10:54] {Threei}  no go RIMM
[10:55] {dino} adtn drop, pulp trade
[10:55] {dino} sm l .20 wide, risky
[10:55] {ese} I haven't traded adtn for a long time dino because it drove me nuts the way it trades......
[10:56] {samire} tza invalid ?
[10:56] {Threei}  for now
[10:56] {Threei}  can reestablish
[10:56] {samire} ok
[10:56] {dino} now you tell me
[10:57] {dino} something up, beat by .02
[10:58] {Threei}  (US) Fed's Bernanke: Current tax rates will not support entitlements at current levels, feels current fiscal trajectory may lead to higher interest rates - Q&A
[10:58] {Threei}  - Should take long term view on deficit, and take care not to hamper the recovery in the short term; reiterates tax code should be reformed and that the debt ceiling should be raised and must address fiscal situation
[10:58] {Threei}  - Notes that the Fed has thought about possible preparations assuming that Congress fails to lift the debt ceiling
[11:02] {RonS} coup?
[11:02] {ese} hmmmmmm
[11:03] {Threei}  lol
[11:05] {dino} out adtn -.40
[11:10] {Threei}  anyone went for TZA?
[11:10] {_carson} accidentally
[11:10] {_carson} but i was out flat
[11:11] {dino} adtn rinsed. thats 3 today. taking break
[11:15] {Threei}  (GR) IMF issues comment on Greece; expects public debt to exceed 170% by 2012 if plans are executed
[11:15] {Threei}  - Expects Greece to return to the markets by 2014
[11:15] {Threei}  - Sees debt as unsustainable through to 2020 due to program delays
[11:15] {Threei}  - Sees 2011 GDP forecast to -3.8% vs -3% forecast
[11:15] {Threei}  - Gap in financing expected at approx 105B through to 2014 - Notes that with private sector involvement it may not be possible to avoid a selective default
[11:16] {dino} default is coming, they are just getting as much as they can get before doing it
[11:16] {Threei}  exactly
[11:17] {Threei}  and that's what Greeks protest, as they well should
[11:17] {dino} they are taking advantage of the suckers
[11:17] {Threei}  default now and save what can be saved for the country
[11:17] {Threei}  as opposite to:
[11:17] {Threei}  givce away all you can and they want,
[11:17] {Threei}  and default anyway, but much poorer
[11:18] {jfjf64} dtop  lvs
[11:18] {jfjf64} watchin
[11:18] {dino} think about it, not collateraizing loans, so what the heck, grab $ while they can.
[11:18] {dino} if collateral was required germany would own greece
[11:19] {Threei}  Zeus would be very angry
[11:22] {ese} ya....the greeks had had enough of them after WW2
[11:22] {RonS}'d ya miss the ebix drop?
[11:23] {dino} dk
[11:23] {dino} think  fraud accusations on ebix last few weeks
[11:39] {samire} slow
[11:43] {Threei}  (GR) Greece PM Papandreou: Greece needs to get a second rescue package quickly, would be open to a bond buyback plan - German press
[11:45] {dino} lol
[11:46] {patience} good morning, sold gg, still have 800 shares slw, abx, taking some off the table
[11:48] {dino} www sm l .40
[11:48] {dino} stop .28
[11:56] {samire} lunch time
[12:03] {ese} pretty much a break out for every silver stock on the planet today
[12:22] {dino}  who unplugged mkt?
[12:22] {jfjf64} lol
[12:22] {Threei}  nemo tripped of a cord
[12:23] {Threei}  this drunken stumbling around...
[12:23] {nemo} Can I start?
[12:23] {ese} ya really....sheesh
[12:24] {ese} L svm .20
[12:25] {ese} L HL .43
[12:29] {dino} www stop -.12
[12:31] {ese} L svm avg .15
[12:37] {dino} ok, rinse #4 www
[12:39] {jfjf64} grrrrrrrr day
[12:40] {Threei}  be back in 20
[12:46] {dino} wtf www, stops and runs .50
[12:58] {Threei}  back
[12:58] {Threei}  didn't miss much eh
[13:00] {Threei}  market doesn't even react anymore
[13:00] {ese} ya ...look at that thing dino
[13:00] {dino} evep spike
Session Close: Wed Jul 13 13:01:34 2011

Session Start: Wed Jul 13 13:01:34 2011
Session Ident: #discussions
02[13:01] * Disconnected
02[13:04] * Attempting to rejoin channel #discussions
03[13:04] * Rejoined channel #discussions
[13:04] {Threei}  (SZ) SNB's Jordan: Concerned about recent developments; currently monitoring the EUR/CHF FX; there is more contagion risk if Italy becomes involved in the crisis
[13:04] {Threei}  - Notes the Swiss banking system has only limited exposure to the peripheral state's debt issues
[13:04] {Threei}  (US) Fed's Bernanke: Reiterates that the Fed needs to keep all options on the table for easing policy, more quantitative easing (QE) is one option
[13:04] {Threei}  - Reiterates that the US economy still requires a good deal of suppor.
[13:04] {Threei}  - USD is decline for many reasons, decline in the USD had contributed somewhat to higher energy prices
[13:05] {nemo} Hey Dino, whaddya' think of Loren Holly?
[13:06] {nemo} Lauren
[13:07] {dino} who is she
[13:07] {nemo} actress...think her break through was "Picket Fences" in the 90's
[13:08] {RonS} jim carry's ex...redhead w/ big 'uns...
[13:08] {dino} ahhh
[13:08] {nemo} yep
[13:08] {jfjf64} hhha
[13:09] {dino} adtn drop
[13:09] {dino} 35 strike in play
[13:23] {samire} Vad.....where to buy swc  ?
[13:24] {nemo} sell under .50
[13:26] {nemo} see that volume bar when it touched .50
[13:26] {nemo} .46 low of day though...could be two way, long above .56, give you .06 stop
[13:29] {Threei}  samire... I can't answer like this
[13:29] {Threei}  stock needs setup to become a play
[13:29] {Threei}  I see none in there
[13:30] {samire} in swc long
[13:38] {samire} go swc
[13:39] {dino} asys l .99
[13:40] {nemo} having connection problems today
[13:40] {nemo} might wan't to move your stop up sammy
[13:46] {RonS} cstr gap fill
[13:46] {ese} am outta here all.......more work to do ...cya tomorrow
[13:46] {dino} hes drop
[13:46] {RonS} cya ese
[13:47] {ese} still L HL/SVM    these are lookin like overnight holds ...we'll see at the end of the day
[13:47] {ese} later Ron
[13:47] {RonS} no news hes
[13:48] {dino} sm l .00
[13:49] {dino} stopped
[13:49] {dino} -.30\
[13:55] {dino} hes sm l .50
[13:55] {RonS} oil platform in the North Sea evacuated due to fire incident. $HES also operates in the North Sea Valhall field with a 28% interest.
[13:56] {RonS} bp platform
[13:57] {dino} ty
[14:01] {Threei}  (US) White House: President Obama does not support a constitutional amendment mandating a balanced budget
[14:01] {Threei}  - Reminder: US House Speaker Boehner (R-OH) had included the possibility of an amendment to be included in the negotiations as a condition for passing an agreement on the debt ceiling; pundits have anticipated that this condition will receive no democratic support, as Democrats claim it is an inflexible framework to handle Govt needs on crises, among other issues
[14:02] {RonS} handing out favors for campaign funds...
[14:02] {nemo} giving away auto companies to the unions
[14:02] {Threei}  meanies'
[14:03] {RonS} feathering barney's boyfriend's nest
[14:03] {dino} lol
[14:07] {dino} out hes .75, +1.25
[14:08] {dino} hmmm
[14:12] {dino} .
[14:18] {dino} brfs spike
[14:18] {dino} not avail
[14:27] {samire} adbe
[14:27] {patience} watching gdx, slw and hgu for spike up from v shaped formation
[14:27] {patience} or maybe down more
[14:29] {dino} watching hes again, had noce trade on it
[14:29] {dino} nice
[14:33] {RonS} headline of the day:  An Austrian atheist has won the right to be shown on his driving-licence photo wearing a pasta strainer as "religious headgear".
[14:34] {RonS} rotflol
[14:34] {Threei}  can I move to another planet?
[14:34] {RonS} beam me up scotty...
[14:35] {dino} asys to flat
[14:35] {RonS} you should see the pic...the damn thing fits!
[14:40] {RonS}
[14:40] {RonS} lol...just got it...the bbc says it strains credulity...
[14:40] {RonS} those brits
[14:42] {RonS} classic op ed:
[14:45] {RonS} McConnell proposal on debt limit prompts swift backlash from conservatives
[14:56] {Threei}  last line is a bit too optimistic, I am afriad
[14:56] {Threei}  Lucky for us, it appears more and more unlikely every day that we will have to suffer through a third term of Jimmy Carters.
[14:56] {Threei}  with current crop of republican candidates, I don't know about that
[14:56] {Threei}  amazingly unispiring bunch
[14:58] {RonS} granted, but it boils down to who is motivated, and who is disenchanted and choose to stay home...
[14:58] {_carson} getting no bounce out of LULU here
[14:58] {RonS} stopped using elastic in yoga pants/
[14:58] {Threei}  true...
[14:59] {Threei}  still, I would feel much easier if they had solid candidate
[14:59] {Threei}  as of today, it's a mix of boring and unelectable
[15:04] {dino}  need chritie or ryan
[15:04] {dino} christie from nj
[15:05] {Threei}  I liked Rubio very much of his couple TV appearanaces
[15:10] {dino} going to fill those open gaps?
[15:12] {dino} banks pushing to end tax exempt munis
[15:12] {Threei}  (US) House Speaker Boehner (R-OH): There is no guarantee that the debt limit will rise if there is no deal by August 2nd
[15:13] {Threei}  (GE) Helaba landesbank said to have withdrawn from the europe stress tests following an EBA rejection of its capital adjustment efforts - financial press
[15:13] {samire} is it time to buy tza
[15:13] {Threei}  (US) Treasury's Miller: Deficit negotiations are fluid, with President Obama supporting a large deficit plan; attitudes towards treasury securities are not much changed- Comments that the Treasury has not made any changes to its borrowing program, but want to increase TIPS to approximately 7% of debt program
[15:13] {Threei}  into such vertical spike??
[15:14] {Threei}  feeling a little suicidal today, samire?
[15:14] {samire} no
[15:14] {Threei}  pullback to 33 - 33.10 tange, then maybe
[15:14] {samire} i am up today
[15:15] {dino} going to fill those gaps
[15:16] {nemo} maybe not 131.75-.85 has some serious cnofluences
[15:16] {nemo} daily pivot quarterly pivot and 50 day
[15:21] {Threei}  looks like market shakes off complacency and starts realizing that it's possible they don't reach a deal
[15:22] {nemo} getting neutral going into the overnight
[15:30] {samire} 30 more minutes
[15:30] {samire} for the market
[15:31] {Threei} Long Setup:  TZA  .35
[15:31] {Threei}  if stays above .25
[15:32] {Threei}  if loses it, .10 zone is next consideration
[15:33] {_carson} k
[15:37] {_carson} not a good day today im afraid :(
[15:38] {dino} get over it by tomorrow
[15:38] {Threei}  about flat day
[15:39] {dino} up 600
[15:39] {_carson} nice dino
[15:39] {_carson} down about 270
[15:39] {samire} up 1400
[15:39] {dino} thanks to 1.25 on hes
[15:39] {dino} gj sami
[15:40] {_carson} gj samire. what did u play
[15:40] {samire} water falls
[15:41] {samire} low of the day bounces
[15:41] {_carson} got any tickers? if thats ok with you
[15:42] {_carson} yeah rinse on TXA now
[15:42] {samire} now watching ntap
[15:42] {_carson} TZA now .. great
[15:42] {dino} waterfall here on markets
[15:43] {dino} lost about 150 pts
[15:46] {samire} just made some money on ntap
[15:46] {samire} 2 minute chart
[15:47] {samire} i posted above
[15:48] {samire} u have to be quick in and out today
[15:49] {samire} small bounces today
[15:49] {samire} u have to adjust
[15:50] {dino} ssssssssssllllllllllllllaaaaaaaaaapppppppppppppp!
[15:50] {samire} is this a stock symbol ?
[15:51] {dino} :D
[15:51] {samire} ok long slap
[15:51] {dino} asys l .85
[15:56] {dino} wow close but no gap fill
[15:57] {_carson} samire. u play swc, ntap, mchp, kmx
[15:57] {_carson} what else?
[15:57] {Threei}  carson, what difference doesa it make?
[15:57] {Threei}  it' setups that win or lose, not symbols
[15:57] {_carson} trying to learn
[15:57] {dino} otex spike
[15:58] {_carson} i take winning charts and study them overnight to see what worked
[15:58] {_carson} and why it worked
[15:58] {Threei}  wrong thing to learn
[15:58] {Threei}  it's not like some symbols win and some don't
[15:58] {_carson} no but chart patterns would be similar
[15:58] {Threei}  yes
[15:58] {samire} did u know ?
[15:58] {Threei}  which makes symbol list meaningless
[15:59] {_carson} ya but i can take the list and study the patterns
[15:59] {_carson} not love the symbol
[16:00] {Threei}  thank you all, have a good evening
[16:00] {Threei}  see you tomorrow
[16:00] {_carson} cya vad
[16:00] {dino} out asys ave .94, +.09
[16:01] {_carson} check ur pm samire
[16:01] {larisa} bye :)
[16:01] {_carson} top of browser...if u notice
[16:01] {dino} gn all, tee time in 30
[16:14] {_carson} oh
[16:14] {_carson} YUM
[16:14] {_carson} gapped up