Tuesday, October 11, 2011

Oct 11 2011

(Participation in the room in real time requires membership)

Very inactive but nicely profitable day. Merely 4 trades, 3 wins, 1 stop and a whole lot of boredom. 

Session Time: Tue Oct 11 00:00:01 2011
[09:03] {Threei}  huh... gap down for aa change
[09:10] {RonS} gm...it cracked me up when i was fooling around on stocktwits and discovered 3i following nemo whick i did in turn...to see the nemo' picture is "bunny".
[09:10] {RonS} which
[09:10] {nemo} hehehe...I'm doing you a favor
[09:10] {Threei}  lol
[09:11] {nemo} you know when I say, "I'm not as dumb as I look?"
[09:11] {nemo} I wasn't kidding
[09:20] {dino} gm all
[09:20] {nemo} frickin' optimist
[09:21] {dino} up/down whats the difference?
[09:21] {nemo} no, the "gm"
[09:21] {dino} should i just say "morning"
[09:21] {Threei}  dino :)
[09:22] {nemo} far be it from me to tell you what to say
[09:22] {Threei}  never mind him dino, he is just naturally grumpy
[09:22] {Threei}  if you say "bad morning" he would nag you just the same
[09:22] {larisa} gbm :)
[09:23] {Threei}  larisa :)
[09:23] {Threei}  see, she is learning on the fly :)
[09:23] {larisa} vad :)
[09:23] {nemo} that's not true, I'd have compassion for his suffering
[09:23] {Threei}  you?
[09:23] {Threei}  compassion?
[09:23] {nemo} don't tell anybody
[09:23] {Threei}  wait for me please, I need to go somewhere to laugh very very loudly
[09:24] {dino} q is, is this another lower high in the markets, remember 11447, 2321, 1206 from 9/21
[09:24] {Threei}  my view:
[09:25] {Threei}  at this point, technicals don't mater much, we are in the middle of tghe very fluid news flow
[09:26] {Threei}  whatever charts say, the headline geting us closer to the resoltuion of EU crisis, whichever way it is, will change everything on a dime
[09:26] {Threei}  FCX
[09:26] {Threei}  wathcing for short into bounce
[09:27] {RonS} jaguar chasing rimm shares up...
[09:30] {Threei}  FCX
[09:30] {Threei}  half lot
[09:30] {Threei}  keep it ready
[09:31] {Threei}  .15 break
[09:31] {nemo} was that short or long
[09:31] {Threei}  [09:26] {Threei} FCX
[09:31] {Threei}  [09:26] {Threei} wathcing for short into bounce
[09:31] {nemo} ahh short
[09:31] {Threei}  stop above .30
[09:32] {nemo} IWM and SPY just below their pivots
[09:33] {Threei}  target 34.85
[09:33] {Threei}  1:1
[09:34] {Threei}  stop to .21
[09:37] {Threei} Short Setup: RIMM  24 break
[09:38] {Threei}  stop .12
[09:39] {Threei}  FCX target hit
[09:39] {Threei}  RIMM 1:1
[09:41] {Threei}  1:2
[09:42] {Threei}  let's all go home?
[09:42] {z} nice calls 3 :)
[09:43] {Threei}  ty
[09:43] {Threei}  awww, FCX had more in it
[09:50] {Threei}  (US) Preview: Oct IBD/TIPP Economic Optimism index due out at 10:00ET- Consensus expectations: 39.4e v 39.9 prior
[09:52] {Threei}  strange spike
[10:00] {Threei}  (US) Oct IBD/TIPP Economic Optimism: 40.3 v 39.4e
[10:01] {Threei}  (US) FDIC board releases draft proposals to ban prop trading by banks (the so-called Volcker rule)
[10:01] {Threei}  ***Recall that leaked versions of the rule seen in late September suggested that the rule would require very detailed policing of individual traders at banks. On Oct 4th, Fed Chairman Bernanke said Fed to put out a proposal on Volcker Rule implementation within a couple weeks for public comment
[10:04] {dino} indecision
[10:08] {dino} cat sm s .64 stop .95
[10:09] {Threei} Long Setup:  SLW  .05
[10:09] {Threei}  if stays above .95
[10:09] {dino} stop
[10:10] {Threei}  1:1
[10:11] {Threei}  1:2
[10:14] {Threei}  close enough to 1:3, out
06[10:15] * Threei sings "Fiiish in the barrel" to the tune of Smoke on the Water
[10:15] {nemo} I helped carry Richie Blackmore up a flight of stairs once
[10:16] {Threei}  drunk or high?
[10:16] {nemo} didn't think someone that drunk could go on and play the way he did
[10:16] {Threei}  well, maybe that was the only way to play like this
[10:16] {nemo} I've never seen fingers move like his over a fretboard
[10:16] {Threei}  3:3.. fish stands no chance today
[10:18] {dino} chk l .70, stop .59
[10:21] {dino} out flat
[10:35] {RonS} gs ripping
[10:36] {Threei}  (GR) German Finance Ministry: Decision on sixth tranche of Greece aid remains open even after Troika statement
[10:36] {Threei}  ***Reminder: Earlier this morning, the EU/IMF/ECB (Troika) inspectors stated that Greece would get the next aid tranche when Eurogroup, IMF approve results of their review, most likely in early Nov, despite expectations that Greece would miss 2011 fiscal targets.
[10:39] {RonS} ...always wondered if people formed troikas so they could say the word troika...
[10:39] {Threei}  sounds about right to me
[10:39] {Threei}  not sure why the fascination
[10:39] {nemo} words come into vogue remember "gravitas"
[10:39] {Threei}  for russians knowing history of Stalin times the word has very ominous connotation
[10:40] {RonS} partnership is so 19th century...
[10:40] {nemo} rates right up there with Lubyanka and Dherzhinsky
[10:40] {Threei}  yup
[10:40] {RonS} lol...what?
[10:40] {nemo} or "comrade you are sick"
[10:41] {nemo} this level is HUGE for spy
[10:41] {Threei}  expedited tribunals consisting of three representatives of authorities, sending people to fire qsuad ort prison after 10 min hearings
[10:42] {RonS} ah, good to know...
[10:44] {Threei}  http://en.wikipedia.org/wiki/NKVD_troika
[10:44] {thomcbell} what is the level nemo?
[10:44] {dino} nxpi l .14
[10:44] {nemo} .80
[10:44] {dino} chk l .87
[10:45] {nemo} we will likely test the 9/20 highs
[10:45] {dino} dji is there 11447
[10:46] {dino} 07 all green
[10:49] {patience} good morning
[10:49] {nemo} can't take this optimism
[10:49] {Threei}  morning patience
[10:55] {dino} stop chk
[11:02] {dino} cat sm s .54
[11:04] {dino} stop cat, taking break
[11:09] {dino} rinsed
[11:38] {dino} yndx
[11:47] {Threei}  uh oh
[11:47] {Threei}  winter colder than usual by 5 C is predicted for Victoria
[11:47] {nemo} oh shit...you might actually have to put long pants on
[11:48] {Threei}  never miknd pants, what about my palm tree
[11:48] {Threei}  and two freshly planted fig trees
[11:48] {nemo} why do you dress a palm tree?
[11:48] {RonS} worse here w/ prediciton of windy winter due to some kind of nino excuse
[11:48] {Threei}  that's my idea of christams party
[11:50] {dino} more precipitation for here, like we haven't had enough
[11:53] {dino} opnt sm l .40
[12:50] {Threei}  (EU) Preview: Awaiting Slovak parliamentary vote on ratifying the EFSF; latest local reports say debate could continue for the next several hours before the vote
[12:50] {Threei}  - On Monday, talks between the ruling party and its junior coalition partner, the SAS, failed to reach a compromise that would garner the support of the SAS in Tuesday's vote. The SAS has been seeking a provision that would allow Slovakia to opt out of the future ESM program in euro zone. The PM has indicated that if she cannot get the necessary votes from the SAS, she may have to compromise with the opposition Smer (Smer-Social Democracy), which supports the euro zone bailout programs but has said it wants a government reshuffle as a condition for getting its votes.
[12:50] {Threei}  - This sets up a scenario for today that the first vote will fail in the Slovak parliament, followed by a second vote linked to a compromise that would then pass it. Expectations are that a second vote could come on Thursday.
[12:50] {Threei}  - The vote today is also being discounted because of indications out of Europe that the EMU could arrange a "work around" solution even if Slovakia fails to ratify the EFSF, giving Slovakia's small size and tiny contribution to the EFSF.
[12:57] {swill} would there be a cup and h coming on slw?
[12:57] {nemo} hard to say
[12:58] {Threei}  not really... a bit too random
[12:58] {swill} thank you
[12:58] {dino} csh l ave .05
[13:24] {Threei} Long Setup:  SLW  .20 break
[13:24] {Threei}  let's keep it to half lot
[13:24] {Threei}  not very suitable time of the day
[13:26] {Threei}  invalidated
[13:47] {dino}   out opnt .79, +.39
[13:47] {dino} idcc
[13:51] {Threei}  INTC-IDCC rumors dino
[13:52] {Threei}  major terrorist plot press-conference, in 10 min
[13:57] {dino} half out csh .29, +.24
[13:58] {Threei}  (EU) PIMCO's head of global portfolio management Mather: Recapitalizing the banks will not be sufficient to resolve euro zone crisis, reiterates that EUR/USD will be at 1.20 in 3-6 months
[13:58] {dino} 1:1 more like it
[13:59] {dino} remainder csh to .21
[13:59] {Threei}  and when the reality finally materializes, 0
[13:59] {Threei}  lol, look at this
[13:59] {Threei}  (EU) Plans to insure EFSF bonds said to be gathering support; would insure 3T worth of bonds without increase in size of the EFSF program
[14:00] {Threei}  are they really that dumb?
[14:00] {Threei}  or just desperate enough to try anything?
[14:00] {dino} yes
[14:01] {Threei}  what difference does it make banks underwriting the bonds, goverments garanteeing them or insurance companies insuring them?
[14:01] {Threei}  in any case, there is an entity that accpets the risk of failure
[14:01] {dino} to both
[14:02] {Threei}  and here is their rationale:
[14:02] {Threei}  - Allianz in discussions with the Troika on options; credit rating for EFSF would not have much impact under the insurance plan
[14:02] {dino} out remainder csh .31, +.26
[14:10] {dino} edmc spike
[14:31] {dino} opnt sm l .26 gappy
[14:38] {RonS} sheesh, bunny in back yard splayed in dirt snoozing in the sun
[14:39] {RonS} been chewing the hck out of my grass...waiting for hard freezes to shoot him
[14:39] {RonS} heck
[14:39] {RonS} too bad but the dang thing won't leave...
[14:39] {swill} thats how I feel too
[14:40] {dino} dog keeps them away
[14:49] {dino} stop opnt
[14:53] {Threei} Short Setup: SLW  .25 break
[14:56] {dino} chk l .43
[14:56] {z} stop above .40?
[14:56] {Threei}  .35
[14:58] {Threei}  no go
[15:01] {dino} opnt rinsed, 3 rinses today
[15:01] {Threei}  (US) US Attorney General Holder: plot to assassinate Saudi ambassador to US in Washington was conceived and sponsored by Iran; US will take action to hold Iran responsible for the plot
[15:01] {dino} chk to .55
[15:01] {Threei}  what kind of action?
[15:01] {Threei}  are we to go to another war?
[15:01] {RonS} my guess...whining in public...
[15:02] {dino} out chk .57, +.14
[15:02] {Threei}  oh... that's effective
[15:02] {Threei}  that'll show them
[15:02] {RonS} ...the O way...
[15:02] {Threei}  (US) Fed is said to be considering changes to reserve requirements in order to reduce bank costs - financial press
[15:02] {dino} how about an obamination lecture w/finger pointing
[15:02] {Threei}  what?
[15:03] {RonS} silly to me to call it a "terrorist plot"...
[15:03] {Threei}  are they going to decrease the required reserve?
[15:03] {Threei}  tell me I am wrong
[15:03] {dino} sounds like it, maybe to get them loaning money
[15:04] {Threei}  that's...
[15:04] {nemo} spy bounced right at the lower end of the price channel
[15:04] {Threei}  well, idiocy is in right direction but too soft
[15:04] {Threei}  imbecilism?
[15:04] {Threei}  cretinism?
[15:26] {nemo} Is this August?
[15:26] {Threei}  no but market is very hesitant
[15:26] {nemo} tna/tza almost at equinox
[15:27] {Threei}  normally last hour brngs plays but I see none so far
[15:29] {dino}  coo drop
[15:31] {dino} gotta hop, slightly red, thx all
[15:31] {z} cya dino
[15:32] {dino} :D
[15:36] {nemo} should get to at least 120.20
[15:40] {Threei}  take care dino'
[15:41] {RonS} caught coo from 70.88 to 72.40  sm sh
[15:42] {Threei}  beautiful
[15:42] {nemo} ballsy dude
[15:42] {nemo} bunny says congrats
[15:42] {RonS} lol
[15:43] {nemo} she's been in a pissy mood today
[15:43] {RonS} move triggered 'cause someone bought 500 puts in a block...
[15:44] {RonS} lol...exactly how can you tell what kind of mood a rabbit is in?
[15:45] {Threei}  angle of ears
[15:45] {Threei}  the steeper it is...
[15:45] {RonS} ...the bunny whisperer...
[15:45] {nemo} actually, you're right...she also gets a look in here eye
[15:45] {nemo} her
[15:46] {RonS} "a look"...lol
[15:46] {nemo} same with any animal actually
[15:46] {nemo} bet people can tell when you're pissed
[15:48] {Threei}  lol
[15:48] {Threei}  by angle of 2x4
[15:48] {Threei}  the steeper it is...
[15:49] {Threei}  looks breaky
[15:49] {nemo} http://www.msnbc.msn.com/id/44861178/ns/us_news-security/#.TpSdrbKJvDt
[15:49] {Threei}  matket I mean
[15:49] {nemo} it's holding lower channel, 3rd time in less than hour it's held
[15:56] {Threei}  OK guys, no good trades into the end
[15:56] {patience} ty vad
[15:56] {Threei}  thank you all
[15:56] {Threei}  have a good evebing
[15:56] {z} thx for the trades vad, gn
[15:56] {Threei}  see you tomorrow
[15:59] {RonS} FDA to Release Warning Regarding CooperVision's Avaira Toric Contact Lenses