Friday, September 2, 2011

Sep 02 2011

Great day finishing great week. 5 calls, 4 wins. Got the theme of the week right, which helped structure the majority of the calls. Check out the latest Facebook post for a nice illustration of the volume configuration confirming the price direction.

Session Time: Fri Sep 02 00:00:00 2011
[08:15] {nemo} Raven...I have a book on your family
[08:24] {Threei}  yawn...
[08:24] {nemo} yeah
[08:24] {Threei}  hey, I think I am closer to bragging rights on that bearish post
[08:24] {nemo} how's your shoulder?
[08:24] {Threei}  so far so good
[08:24] {Threei}  I train it well, you know
[08:28] {Threei}  job numbers are coming
[08:29] {nemo} yeah...expecting a whipsaw
[08:30] {Threei}  *(US) AUG UNEMPLOYMENT RATE: 9.1% V 9.1%E
[08:30] {nemo} oh shit
[08:30] {Threei}  *(US) AUG AVG HOURLY EARNING M/M: -0.1% V +0.2%E; AVG WEEKLY HOURS: 34.2 V 34.3E
[08:31] {Threei}  what on earth was that
[08:31] {Threei}  lol
[08:31] {Threei}  some can'tread
[08:31] {Threei}  or mix buttons
[08:31] {nemo} and just think, it'll be revised downward next week
[08:38] {_thomcbell} Vad you mentioned putting a note together about some decisions you made - would that be in the Log?
[08:39] {nemo} o.k where do we short into this
[08:39] {Threei}  I posted yesterday
[08:39] {Threei}  let me find it
[08:39] {nemo} fine
[08:39] {nemo} I'm going to get a
[08:39] {Raven} Nemo ... book ?
[08:40] {Threei}  [13:23] {Alert} Threei thom,
[08:40] {Threei}  can you see it thom?
[08:49] {Threei}  thom?
[08:51] {_thomcbell} yes helpful thanks
[08:51] {Threei}  :)
[08:52] {_thomcbell} Vad did u catch the Arnold Palmer interview?
[08:53] {Threei}  no... where?
[08:54] {_thomcbell} ill send it to you again
[08:55] {Threei}  golpher?
[08:57] {_thomcbell} Samurai Golfer yet
[08:58] {Threei}  got it, ty, will watch later :)
[08:59] {Threei}  I see now why I missed it last time... if you address me durectly, use e-mail vad@
[08:59] {Threei}  info@ I may or may not see, depending on content
[09:00] {Threei}  look how SLW behaves...
[09:18] {dino} gm all
[09:18] {_sednet} gm
[09:18] {larisa} gm :)
[09:18] {Threei}  dino, sednet :)
[09:18] {RonS} gm
[09:18] {Threei}  larisa, ron :)
[09:18] {_zeeee} wow the lower channel line of the current bear flag is 114.20 on SPY....long way down.
[09:19] {Threei}  larisa... this gap qulifies?
[09:19] {Threei}  qualifies
[09:20] {larisa} :)
[09:20] {Threei}  come on, this was a darn good call, made on positive day when there was no clear indications of troubles coming... can a fella get some recognition here?? :)
[09:21] {dino} nope
[09:21] {Threei}  fella can't?
[09:22] {dino} s/p gaps 1176, 1120
[09:22] {_thomcbell} got it from me Vad
[09:22] {Threei}  ty
[09:22] {dino} ndx 2161, 2044
[09:23] {Threei}  just think of it... soon going to be 13 years of trying to impress this gal
[09:25] {Threei}  watching FCX
[09:25] {Threei}  SLW too of course but no clear plan on this one
[09:25] {nemo} short
[09:25] {Threei}  not sure
[09:25] {Threei}  problem is:
[09:26] {Threei}  it doesn't move WITH market anymore,
[09:26] {Threei}  but its moves against the market are inconsistent
[09:26] {Threei}  sometimes they work, sometimes not
[09:26] {Threei}  almost aas if gotta determine a play oln it on case by case basis
[09:27] {Threei}  one notable thing about RIMM is its relative strength
[09:27] {Threei}  merely 20 cents gap down on such huge market gap...
[09:27] {Threei}  opening volatility will be a killer today, skipping first minutes
[09:29] {Threei}  overall, we had a great week, I'll try to stay on conservative side today
[09:32] {Threei} Short Setup: FCX  .40 break
[09:32] {Threei}  half lot
[09:33] {Threei}  stop above .55
[09:33] {Threei}  cover half here
[09:33] {Threei}  stop to .45
[09:34] {Threei}  out in full .18
[09:35] {Threei}  a bit too soon
[09:35] {Threei}  but no regret, things ARE volatile
[09:35] {patience} good morning
[09:35] {Threei}  morning patience
[09:36] {dino} nice
[09:36] {Threei}  just in time to miss first play
[09:37] {Threei}  watching RIMM for bounce scalp
[09:37] {nemo} gap close coming
[09:37] {dino} here comes 1176 gap
[09:37] {nemo} after my own heart
[09:38] {Threei}  get a room you two
[09:38] {nemo} IWM gap closed
[09:38] {dino} bam!
[09:38] {Threei} Long Setup:  RIMM  .80 break
[09:39] {Threei}  if holsding .70
[09:39] {Threei}  half lot, OK?
[09:39] {nemo} ballsy call
[09:39] {Threei}  let's respect this volatility
[09:39] {Threei}  panic is panic
[09:39] {dino} this isn't panic
[09:40] {larisa}  ty dino :)
[09:40] {Threei}  not yet
[09:40] {Threei}  but it's coming
[09:40] {dino} ;)
[09:41] {dino} -300 i will be adding
[09:41] {dino} -317 preferred
[09:41] {Threei}  so far so good RIMM... recapturing .80 should form the bottom
[09:41] {Threei}  loss of .70 will kill it
[09:41] {Threei}  so... well structured one
[09:41] {nemo} .66 is S2 pivot support
[09:42] {Threei}  OK... let's go RIMM{ we are friends, remember?
[09:42] {Threei}  we had our falling out yesterday but we fixed it
[09:42] {Threei}  1:1
[09:43] {Threei}  1:2
[09:43] {nemo} 31.10 probably
[09:43] {Threei}  RIMM and I, BFF
[09:43] {RonS} rimm .82 to .98  thanks 3i
[09:44] {Threei}  welcome
[09:44] {Threei}  out in full 1:3
[09:45] {Threei}  good call on target nemo
[09:45] {nemo} VWAP
[09:45] {dino} gef sm l .00
[09:46] {Threei}  touched precisely and retreated
[09:46] {Threei}  nice
[09:46] {dino} gj
[09:46] {Threei}  team work
[09:46] {nemo} coincided with support too
[09:46] {Threei}  even though you and larisa miss no chance to bash me
[09:46] {Threei}  but I am kind and forgiving
[09:46] {nemo} pot calling the kettle charred
[09:46] {Threei}  wel, 2x4 is always in my hand
[09:47] {Threei}  b ut it only helps me forgive
[09:47] {dino} sm l oxm .00
[09:47] {nemo} let's see....
[09:47] {nemo} sword
[09:47] {nemo} nah, bokken
[09:47] {dino} whiner
[09:47] {Threei}  SLW, look at this bounce, an d no relation with market whatsoever
[09:47] {nemo} nah, Gek?
[09:47] {nemo} mmmmmhhh...nah
[09:47] {nemo} .40 cal
[09:47] {nemo} hell with it
[09:47] {nemo} 12 guage
[09:48] {nemo} yeah that's it
[09:50] {nemo} slw gdx breaking out
[09:50] {Threei}  40.80 was wroth a try on SLW in retrospect... here, no
[09:50] {nemo} GDX .90 break?
[09:50] {Threei}  that was very decent consolidation and break of JBE type
[09:50] {ese} gm
[09:51] {Threei}  ese :)
[09:51] {Threei}  GDX, no... not liking this break
[09:51] {nemo} doji consolidation
[09:51] {Threei}  one more shallow pullback and retest of the ghigh, then maybe
[09:52] {Threei}  not biting here
[09:52] {Threei}  50/50
[09:52] {dino} oxm to .41
[09:53] {nemo} they're bying it up
[09:53] {nemo} buying
[09:54] {Threei}  hinestly, very much feels like a trap to me
[09:54] {Threei}  honestly too
[09:54] {dino} elvis?
[09:54] {Threei} Short Setup: SLW  .20 break
[09:54] {nemo} that weekly looks strong
[09:55] {Threei}  if stays under .30
[09:55] {Threei}  invalidated
[09:55] {dino} oxm to .44
[09:55] {dino} out .42, +.42
[09:55] {Threei}  nice
[09:55] {Threei}  wtg
[09:56] {dino} ty
[09:56] {dino} plcm ho;ds well ron
[09:56] {dino} holds too
[09:56] {Threei}  SLW valid again
[09:56] {RonS} too soon dino...someone took those easily...want .80
[09:56] {dino} ok
[09:57] {Threei}  in, stop above .30
[09:57] {dino} tzoo filled gap
[09:58] {dino} cat gap filled
[09:58] {Threei}  let's trail to .25
[09:58] {dino} ccsc spike
[09:59] {Threei}  was so close to 1:1. gotta tighten risk
[09:59] {dino} thinny
[10:00] {dino} 07 green
[10:00] {dino} sm l cat .75
[10:00] {Threei}  let's tighten even more
[10:00] {Threei}  .22
[10:00] {Threei}  practically no risk
[10:01] {Threei}  other than some slippage
[10:02] {ese} L cat .00
[10:02] {dino} out cat .05 +.30
[10:02] {Threei}  gj
[10:02] {ese} I took those lol
[10:03] {dino} :D
[10:03] {Threei}  (EU) EU set to approve new tranche for Ireland and Portugal
[10:03] {Threei}  1:1
[10:03] {Threei}  finally
[10:03] {Threei}  took its sweet time
[10:03] {Threei}  1:2
[10:04] {Threei}  - Portugal will receive 11.5B; Ireland will receive 7.5B
[10:04] {Threei}  can you spell "bottomless pit"?
[10:04] {Threei}  1:3
[10:04] {Threei}  out
[10:04] {dino} how much for dino?
[10:04] {Threei}  that's 3 for 3
[10:04] {Threei}  can I go home
[10:04] {dino} gj
[10:04] {Threei}  ty
[10:05] {Threei}  no kidding dino... they'd better give .01% of that to us, at least we wouldn't come back for more
[10:05] {dino} c'mon guys. admit it, you missed me this week
[10:05] {Threei}  we did
[10:05] {Threei}  we just mask it under manly demeanor
[10:06] {patience} totally
[10:06] {Threei}  except larisa and patience
[10:06] {patience} not me
[10:06] {RonS} i did...out oxm .59  +.49
[10:06] {Threei}  and ron
[10:06] {RonS} thanks dino
[10:06] {dino} :)
[10:07] {RonS} look pot
[10:07] {Threei}  I was wrong on GDX
[10:07] {Threei}  it did work after all
[10:07] {dino} out gef .30, +.30, thats 3/3 here
[10:07] {dino} gj ronzo
[10:07] {Threei}  cool... welcome to 3/3 club
[10:07] {ese} L cat .88 avg .94
[10:08] {Threei}  CAT works
[10:09] {Threei}  fantastic team work today
[10:09] {dino} gj
[10:09] {Threei}  {--- happily retires
[10:09] {dino} and i was expecting a boring pre-holiday morning
[10:09] {Threei}  too much happens...
[10:09] {Threei}  a lot of crosscurrents
[10:10] {dino} maybe i need to wear my jerts shirt more often
[10:10] {larisa} and panic buying into closing :)
[10:10] {dino} jets
[10:10] {Threei}  hehe
[10:10] {Threei}  Europe developments overnight were nothing short of frightening
[10:10] {Threei}  and then this dismal jobs report addedd
[10:10] {RonS} j e t s jetsjetsjets...
[10:10] {ese} out cat .37
[10:10] {dino} 07 green
[10:10] {dino} gj
[10:11] {ese} phew....
[10:11] {Threei}  nice one ese
[10:11] {Threei}  gutsy
[10:11] {ese} +.44
[10:11] {dino} the pullbackwas close, huh ese
[10:11] {ese} yup
[10:11] {Threei}  ;look at some data from Europe
[10:11] {Threei}  Key Europe and Peripheral spreads widen in early European tradingPeripheral Europe:
[10:11] {Threei}  - The 10-year Spanish/German Gov't bond spread at approx 300 bps; wider by almost 15bps (highest level since Aug 5th)
[10:11] {Threei}  - The 10-year Italy/German Gov't bond spread at approx 315bps, wider by almost 15bps;( highest level since Aug 8th)
[10:11] {Threei}  - The 10-year Greek/German Gov't bond spread at approx 1,540bps, wider by almost 20bps Core Europe:
[10:12] {Threei}  The 10-year Belgium/German Gov't bond spread at approaching 200bps,wider by almost 10bps
[10:12] {Threei}  - The 10-year French/German Gov't bond spread at approx 76bps, wider by over 3bps and at highest level since Aug 9th Outright Yields
[10:12] {Threei}  - Portugal 10-year gov't yield at 10.30%; higher by over 10bps
[10:12] {Threei}  - Italy 10-year gov't yield at 5.22%; higher by over 5bps
[10:12] {Threei}  (GR) EU/IMF/EU statement on Greece: Confirms that the Troika mission has been temporarily suspended due to technical work on budget
[10:12] {Threei}  - To return to Greece in mid-September
[10:12] {Threei}  ***Note that overnight there were financial press reports that the Troika mission had been suspended for 10 days due to deteriorating budget forecasts.
[10:12] {dino} hookerville
[10:12] {Threei}  Greece Fin Min Venizelos later stated that discussions with the Troika were cordial and denied that talks had been "suspended," claiming that the first phase of mission was complete
[10:13] {ese} ya...pretty much right on the cut line dino with a 1/2 lot....added another 1/2 lot at .88
[10:13] {Threei}  and all this was even before NFP report
[10:13] {Threei}  you'd have to go 66 years back to find jobs report this bad
[10:13] {Threei}  recovery, my a**
[10:14] {Threei}  but no worry, we are about to get a speech
[10:15] {Threei} Long Setup:  RIMM  .05 break
[10:15] {Threei}  if stays above .95
[10:16] {dino} "despite recent setbacks the administration expects growth at increasing rates" obama last night
[10:16] {dino} lol
[10:17] {nemo} .00 is vwap
[10:17] {Threei}  I think he meant they expect at increasing rates
[10:17] {Threei}  expect more, expect faster
[10:17] {dino} i think they expect too much
[10:17] {Threei}  would make for a good slogan
[10:18] {Threei}  expect with us, expecyt like us, expect better than we do
[10:18] {nemo} as they add more regulation (costs) and add FUD to the tax future, exactly where do they expect employment to go?
[10:19] {Threei}  come on already RIMM
[10:19] {Threei}  do something
[10:19] {Threei}  break or invalidate
[10:19] {nemo} doing nothing is doing something
[10:19] {Threei}  these taoists...
[10:21] {dino} worst thing you can do is nothing
[10:21] {Threei}  not when it comes to economy
[10:21] {Threei}  in that case it's the best thing
[10:21] {Threei}  "get out of the way"
[10:21] {dino} lol, was just quoting coolidge
[10:21] {nemo} In many instances I'm glad I did nothing
[10:21] {dino} much better
[10:22] {nemo} It would have been a bitch getting rid of the bodies
[10:22] {Threei}  let the animal spirits work
[10:22] {dino} lol
[10:22] {Threei}  no wrky RIMM
[10:28] {Threei}  action slowed down
[10:34] {dino} re-test of lod coming, imo
[10:37] {Threei}  and ummm, panic?
[10:37] {nemo} Friday close is 50% retracement of this climb, just below that is 117.72 which is yearly pivot on spy
[10:46] {RonS} ...the newest popular catchphrase:  annoyed....guess it is pc version of mad or p.o.' hearing this from every 30 and under i know
[10:47] {RonS} ...all 3 of
[10:47] {Threei}  lol
[10:47] {nemo} kill them all
[10:47] {Threei}  do they say 'I am like annoyed"?
[10:47] {dino} lod's app
[10:48] {dino} just the west coasters use "like"
[10:48] {RonS} well, daughter was here for two weeks...trying to move w baby, etc...everything was "annoying"
[10:48] {dino} regn?
[10:49] {RonS} is like so '90's...
[10:49] {dino} well ron, babies can be annoying
[10:49] {dino} :D
[10:50] {RonS} actually comment not about the baby but frustration of trying to scheule packer w/ impending hurrican
[10:50] {Threei}  Ecuador Pres: OPEC will not allow drastic decline in the price of oil
[10:51] {Threei}  I have a question to esteemed Ecuador Pres
[10:51] {Threei}  will OPEC allow drastic increase?
[10:51] {Threei}  OPEC's annoying
[10:51] {RonS} get this, son-in-law calls on land line from shanghai using skype...says it costs  cents/minute...amazing
[10:51] {RonS} 2 cents
[10:52] {dino} f opec. if they'd let us drill here we go get rid of opec
[10:52] {dino} cool ron
[10:52] {RonS} omg bumper sticker idea:  O'nnoying...
[10:52] {Threei}  close OPEC, bulldoze UN, and we may be geting somewhere less annoying
[10:52] {dino} roflol
[10:59] {nemo} my uncle was in the NSA...He said having the UN in NY was great...much easier to spy on them
[11:00] {Threei}  I have a better idea
[11:00] {dino} ovti sm l .50
[11:00] {Threei}  n UN{ no need to spy
[11:04] {RonS} ese play?...vhc...
[11:05] {RonS} nope
[11:08] {Threei}  (US) National Hurricane Center (NHC): Katia has regained strength to become a Hurricane; strengthening expected over 48 hours
[11:08] {Threei}  nemo and dino might not survive another one
[11:10] {Threei}  (IR) EU claims the Troika review of Ireland remains on track; aid to be sent in two tranches
[11:10] {Threei}  I have a thought...
[11:11] {Threei}  any chance we would find out the path of delivering that aid?
[11:11] {Threei}  nemo in the ditch with machine gun... ese flags them down with innocent "gimmie a ride folks"...
[11:12] {Threei}  zeee prepares numbered bacnk account in the Caymans
[11:12] {_zeeee} sounds reasonable :)
[11:13] {Threei}  we would use that money to the better purpose I surmise
[11:13] {dino} no doubt
[11:13] {_zeeee} that wouldn't be hard to do  ^^
[11:14] {Threei}  and much more pleasant
[11:14] {Threei}  they'll be on each other throats over that money anyway, and very soon
[11:15] {dino} beware greeks requesting gifts
[11:15] {Threei}  yeah, ese is right guy fir that, he looks very trustworthy
[11:15] {Threei}  just duck in time, ese
[11:16] {Threei}  'cause when nemo opens fire, he enjoys himself too much
[11:16] {Threei}  look at this:
[11:16] {Threei}  (GR) IMF said to oppose collateral deals for the Greek bailout program, warns collateral deals risk denying the IMF senior creditor status - financial press
[11:16] {dino} tzoo sm l .50
[11:17] {Threei}  "just trust us"
[11:24] {nemo} regn
[11:25] {dino} avasin related blindness, roche
[11:26] {Threei}  (US) State Dept issues travel advisory for Sept 11, have yet to identify a specific threat
06[11:27] * Threei cancels trip to the mailbox
[11:27] {dino} dino says no jogging
[11:27] {Threei}  and to broccoli... please
[11:38] {dino} 07 green
[11:46] {dino} esl
[11:47] {nemo} was gonna' say tza drop under .90 and then rebreak, but
[11:47] {RonS} said they are screwed in next 2 q's...technical paraphrase...
[11:48] {dino} thx
[11:54] {RonS} watch list...meli setting up for a breakout and run into its gap
[12:00] {ese} me and guns.........drumsticks maybe
[12:00] {ese} L cat .99
[12:02] {ese} stop .79
[12:06] {ese} out cat .40 +.41
[12:07] {_sednet} nice
[12:07] {_sednet} thx
[12:07] {ese} minus commisions of course
[12:07] {Threei}  lol
[12:10] {nemo} spy showing C&H
[12:10] {nemo} or building it
[12:11] {ese} 1 min chart nemo?
[12:11] {nemo} 3
[12:12] {dino}  gj ese
[12:13] {ese} tks
[12:13] {Threei}  welcome new member with the shortest nick ever
[12:14] {Threei}  thank you Z for making it easy for us to address you :)
[12:14] {Z} lol
[12:14] {Z} simpler the better for me :)
[12:14] {ese} welcome Z
[12:14] {Threei}  believe me, with my typing skills, for me too
[12:14] {Threei}  up to this point, ese was my favorite
[12:14] {Threei}  just 3 letters, and two of them are the same
[12:15] {Z} glad to be here
[12:15] {ese} ya....and the "e" is typed with specific finger of course
[12:16] {Threei}  specfic finger? I type everything with just two
[12:16] {Threei}  when I use my hands that is
[12:16] {Threei}  mostly it's fins
[12:17] {dino} welcome to the jungle z
[12:17] {Threei}  this week I can't type with my knees because of patience... during 10K loop around the lake she made me run, so I can't bend my legs since then
[12:18] {Z} thx dino & ese
[12:19] {patience} it was my second 10k within the day, you did great .... it was the puppy who was tired
[12:21] {dino} impressive
[12:21] {Threei}  you've no idea dino
[12:21] {Threei}  she walks faster than I tun
[12:21] {Threei}  run
[12:22] {dino} tzoo stopped -.35
[12:22] {Threei}  although to be fair, I try to run crawling... doesn't work but I try
[12:28] {dino} tkr sm l .51
[12:40] {ese} L cat .98
[12:40] {RonS} how many lives does it have?
[12:43] {ese} 1 more i think...although may have misjudged the spyders this time
[12:44] {ese} hmmmmmm  lookin a little stronger
[12:49] {Threei}  wow RIMM
[13:02] {ese} out cat .88 -.10
[13:03] {Threei}  good risk control
[13:03] {Threei}  keeping hand on throat of losses
[13:03] {Threei}  and strangling them relentlessly
[13:03] {ese} yup.......from you chief
[13:04] {Threei}  I killed so many losses in their infancy, they unleashed Interpol on me
[13:05] {Threei}  called me serial losses murderer
[13:05] {Z} i like the discipline of risk control that i have seen already in just a few days here...last room i came from the method of risk control was avg. down catching falling knives
[13:05] {Z} not exactly a formula for success
[13:05] {Threei}  ahhh
[13:05] {dino}  tkr stop
[13:06] {Threei}  don't want to bash competitors, but catching falling knives in number 2 reson for trader's failure
[13:06] {Threei}  in = is
[13:07] {Z} or maybe reason 1b...saw many people blow it out there getting massacred on the way down, or up on shorts
[13:07] {Threei}  number 1 is always the same, no matter what trading style... it's not keeping your stops
[13:08] {Z} yep...and the avg. down pie in the sky is a direct function of that, which i could never understand why this individual did not adhere to stops religiously
[13:09] {Threei}  averaging down... I have a little write-up on that
[13:09] {Threei}  lemme find it
[13:09] {Threei}
[13:09] {Z} and 1 more add quickly became 2, then 3 then 4, then blow-up, all called by the admin.....unbelievable
[13:10] {Threei}  well, read this article... will sdound familiar to you I assume
[13:11] {Z} avg. down is fine in a long term account on investments based on fundamentals, but sheesh to run a 'daytrading' service that
[13:11] {Z} imo
[13:12] {Threei}  by the way, while we are on it and considering a few trialers in the room, homework for the long weekend for you guys:
[13:12] {Threei}
[13:12] {Z} i dont have stats. on it, but my guess would be that this avg. down worked maybe 1 in 10 times
[13:12] {Threei}  summary of our trading approach I put together
[13:12] {Threei}  will help with many aspects of it
[13:12] {Z} for this individual and the sheep (bagholders) that followed
[13:14] {Threei}  did you know there is a stock symbol Z?
[13:15] {Threei}  also, ESE
[13:15] {Z} zillow yes
[13:15] {Threei}  also RAVN
[13:24] {Threei}  hmmm
[13:24] {Threei}  Bearish bets against the Standard & Poors 500 Index rose to a nine-month high as short sellers increased speculation stocks may decline amid concerns over the strength of global economic growth.
[13:24] {Threei}  The proportion of S&P 500 shares outstanding sold short on Aug. 29 rose to 3.03 percent, the most since the end of November and up from 2.37 percent at the beginning of August, according to New York-based Data Explorers, which provides research on short sales and stock lending. Short selling of the gauge reached a three-year high of 5.52 percent in August 2008, before the worst financial crisis since the 1930s drove the stock index to a 12-year low in March 2009.
[13:28] {dino} cat sm l .50
[13:28] {Threei}  enmd of day today promises to be interesting
[13:28] {Threei}  I want to say panic but I know I am going to killed by you-know-who
[13:31] {_thomcbell} dino why did u buy CAT here?
[13:33] {dino} seemed to be holding .50 area
[13:54] {Threei}  SPY's critical support is defined
[13:54] {Threei}  118
[13:55] {Threei}  that gets broken, panic ensues
[13:58] {Z} long day...
[13:58] {Threei}  lnger than usual?? :)
[13:58] {Z} probably
[13:58] {Z} feels like it
[13:59] {dino} slow
[13:59] {Threei}  time warp
[13:59] {Threei}  chronoclastic infundibulum
[14:00] {RonS} Z zone
[14:00] {Threei}  lol
[14:00] {Z} that's not a pair of words you hear every day...
[14:01] {RonS} stick around, we go to great lengths to confound the language
[14:03] {RonS} whew, at least not doj...
[14:04] {dino} meli sm l .00
[14:06] {Z} so congress has to have a budget ready by 9/30....just a mere 800+ days late
[14:07] {ese} L cat .49
[14:08] {Threei} Short Setup: RIMM  30 break
[14:08] {dino} my stop is .39 fwiw
[14:08] {Threei}  stop above .10
[14:09] {dino} stop cat -.11
[14:11] {Threei}  1:1
[14:11] {ese} out cat .38 -.11
[14:11] {Threei}  thank you RIMM for your faithful eternal reliabkle friendhsip
[14:11] {Threei}  118 is lost
[14:12] {Threei}  panic
[14:12] {ese} quitin while i'm ahead.......cya next week
[14:12] {Threei}  sharp red bar, volume spike
[14:12] {Threei}  take care ese, have a great long weekend
[14:12] {RonS} huge buyers coming into es futes
[14:12] {Threei}  you know there is no trading Mon, right?
[14:12] {Threei}  hmmm
[14:12] {Threei}  he may not
[14:13] {Threei}  larisa... does this qualify??
[14:14] {dino} nope, not even breaking lod
[14:14] {Threei}  we just did
[14:15] {Threei}  118.08 was the low before this red bar
[14:15] {dino} was watching s/p
[14:16] {Threei}  new low
[14:16] {Threei}  {--- crying... how I understand you, Rodney Dangerfield
[14:19] {dino} 2161 ndx gap
[14:24] {dino} cat sm l .15
[14:31] {Threei}  well... how about this?
[14:31] {Threei}  IMF releases report on spillover effect in financial markets
[14:31] {Threei}  still no good?
[14:35] {Threei}  - Fiscal deterioration in EU has the potential for a Lehman-like event
[14:35] {Threei}  - Spillover on fixed income markets is accelerated during financial stress
[14:36] {RonS} hmmm...thought we learned that in 2008
[14:36] {dino}  "we" did, not the europeans
[14:37] {dino} they taunt us as they are falling apart
[14:38] {Threei}  I think Euro strength during this period while anyone who looked could see easily EU is dead, will be one of those great mysteries for decades to come
[14:39] {dino} i can't figure it out. they will be monitizing or defaulting, either way, bad
[14:39] {Threei}  yes... and there is just no third way
[14:40] {dino} and yet you go broke shorting it
[14:48] {Z} spy may roll even further
[14:48] {Z} wouldn't be the least bit surprised
[14:53] {_sednet} dyn
[14:54] {dino} pbr
[15:04] {Threei}  new breakdown is coming
[15:04] {Z} 3 times testing low
[15:05] {Threei}  and look at the volume configuration
[15:05] {Threei}  increase on each dive, drying up on bounces
[15:06] {dino} funny, talking heads talking about a great week this a.m., wiped out in a day
[15:08] {Z} tza having fun today
[15:09] {Z} 10 yr. bond {2
[15:13] {Threei}
[15:14] {Threei}  little educationalblurb
[15:16] {RonS} ok, see you next week...have a good one.
[15:17] {dino} cya ron
[15:37] {dino}  out cat .25 +.10
[15:42] {dino} ugh cat
[15:48] {Threei}  OK guys, I believe we had an awesome week, and ended today with 4 out of 5
[15:48] {Threei}  no need to seek problems ahead of long weekend
[15:48] {Threei}  enjoy it, relax, see you all on Tuesday
[15:48] {Z} have a great holiday weekend...cya all tuesday
[15:49] {dino} take care
[15:52] {_thomcbell} thanks Vad et al
[15:55] {larisa} bye :)