Wednesday, October 12, 2011

Oct 12 2011

(Participation in the room in real time requires membership)

Another nicely profitable and not very active day. Just fine with me though - between profit and excitement, I'll take profit every day - and save excitement for aftermarket. 

Session Time: Wed Oct 12 00:00:00 2011
[08:56] {Threei}  I guess it's time
[09:00] {nemo} for what
[09:00] {Threei}  waking up...
[09:01] {nemo} another big gap up day
[09:05] {nemo} spy has to go to 122
[09:14] {Threei}  (EU) EU's Barosso releases statement on bank recapitalization plans
[09:14] {Threei}  - Fully coordinated approach to European bank recapitalization should be based on reassessment by supervisors of capital needs.
[09:14] {Threei}  - Supervisors should temporarily use significantly higher capital ratios, featuring high-quality capital.
[09:14] {Threei}  - Banks should first seek private capial and only then pursue government support, if necessary. If government support is then unavailable, firms may seek capital from the EFSF.
[09:14] {Threei}  - Pending recapitalization, banks should be prevented from paying out dividends or bonuses.
[09:14] {Threei}  - The sixth tranche of Greece aid must be disbursed.
[09:15] {Threei}  quite obvious to me that this move postpones the decisive moment once again
[09:15] {ese} morning
[09:15] {Threei}  ese :)
[09:16] {Threei}  thus markets react as they should - temporary relief
[09:17] {dino} gm all
[09:17] {Threei}  dino :)
[09:17] {nemo} there you go again
[09:18] {dino} doing it to annoy you
[09:18] {RonS} yo youze
[09:18] {Threei}  ron :)
[09:18] {ese} dino nemo ron
[09:20] {Threei}  but I must note that one thing EU learned from US experience and did right:
[09:20] {Threei}  Pending recapitalization, banks should be prevented from paying out dividends or bonuses.
[09:21] {z} good morning everyone
[09:23] {Threei}  z :)
[09:23] {swill} morning
[09:24] {Threei}  swill :)
[09:24] {nemo} why did you choose the nick "swill?"
[09:24] {larisa} gm :)
[09:25] {ese} z swill
[09:25] {swill} part of my email address
[09:25] {nemo} ahhh
[09:25] {swill} morning ese
[09:25] {ese} hmmmmm darn.......thought it represented drinking habits
[09:26] {swill} use to be true
[09:26] {ese} lol
[09:26] {nemo} so, should you change your nick to "teeto"
[09:26] {swill} my youth
[09:26] {dino} hey ron, saw you catch some coo after i left
[09:26] {ese} you need to make it too vads annual shiskabob bash
[09:27] {RonS} yes dino, thanks...
[09:27] {dino} nice
[09:27] {Threei}  larisa :)
[09:27] {swill}  swilling there ah
[09:29] {swill} ese, are you off work today?
[09:29] {RonS} here i thought name initials w/ the second...swi  ll
[09:30] {swill} close
[09:30] {Threei} Short Setup: FCX  .90 break half lot
[09:30] {ese} no but......they have a generator supplying the powere to the school
[09:31] {nemo} right
[09:31] {Threei}  37 now
[09:31] {Threei}  .15 stop
[09:31] {ese} and some of the electrical doesn't's disrupting some classes
[09:32] {Threei}  1:1
[09:32] {Threei}  1:2
[09:32] {ese} nice one vad
[09:33] {Threei}  out in full .60
[09:33] {Threei}  ty
[09:33] {z} very nice
[09:33] {Threei}  prepare for long
[09:33] {Threei}  half lot too
[09:34] {thomcbell} nice vad tu
[09:34] {ese} L X .76
[09:34] {Threei}  :)
[09:34] {Threei} Long Setup:  FCX  .60 break
[09:35] {ese} out 1/2 .82
[09:35] {Threei}  if holdiong .45
[09:35] {ese} balance to break even
[09:36] {ese} out full .82 again
[09:36] {ese} +.06/+.06
[09:36] {Threei} Long Setup:  AA  10 break
[09:37] {ese} hmmmmmmm...taking off
[09:37] {Threei}  if stays above .95
[09:37] {Threei}  FCX stop to .49
[09:38] {Threei}  FCX 1:1
[09:39] {dino} gj
[09:39] {Threei}  ty
[09:39] {ese} right on chief
[09:44] {Threei} Short Setup: RIMM  24 break
[09:45] {Threei}  stop above .10
[09:45] {Threei}  no go
[09:46] {RonS} +.30 fcx thanks 3i
[09:46] {Threei}  :)
[09:47] {Threei}  rinse RIMM...
[09:47] {Threei}  thomd, welcome back
[09:48] {Threei}  missed a week + of uninterrupted winning streak...
[09:49] {thomd} Glad to be back. Had other stuff to do.
[09:49] {Threei}  other stuff be taken out and shot
[09:50] {thomd} Would be nice, but I can't stop the winter unfortunately.
[09:51] {Threei}  short of moving to Hawaii, not many can :)
[09:51] {Threei} Long Setup:  FCX  .60 break
[09:53] {Threei}  if stays above .50 for scalpers, .45 day traders
[09:54] {Threei}  stop to .49 for all
[09:55] {Threei}  1:1 scalpers
[09:56] {Threei}  stop to .54 day traders
[09:57] {Threei}  1:1 day traders
[09:57] {dino} out fcx .73, +.12 ty vad
[09:57] {Threei}  :)
[09:57] {Threei}  maybe I need to fgo to Whistker every other weekend
[09:58] {Threei}  doesn't make my typing any better though...
[09:58] {Threei}  first baych pof photos will be posted later in the day btw, Sea-to Sky Hwy... destination in and of itself
[09:58] {Threei}  batch
[09:59] {ese} you guys are killin it with FCX
[09:59] {ese} well done
[10:00] {Threei}  playing it with half lot on the open though, ese
[10:00] {Threei}  fair warning, you mised a day or two when FCX did something incredibly monstrous during first minutes
[10:00] {Threei}  candles about 40 cents long, in one breath
[10:00] {dino} reminds me of van halen, "fair warning"
[10:03] {Threei} Long Setup:  LVS  65 break
[10:03] {Threei}  late a little, see if pulls back
[10:03] {Threei}  here
[10:03] {Threei}  stop under .55
[10:04] {Threei}  1:1
[10:07] {Threei}  IBM impressive daily
[10:09] {dino} shld?
[10:11] {Threei}  strength on good holiday sales expectancy
[10:11] {RonS} whr spike on buffet rumor
[10:12] {RonS} mmm running
[10:13] {dino} we broke thru lower highs of sept
[10:13] {dino} dji, ndx, s/p
[10:14] {dino} 2312 ndx filled
[10:14] {dino} 1234 and 11895 above
[10:16] {Threei}  whole bounce on daily starts looking horribly overextended to me
[10:17] {Threei}  and volume is lower and lower every day
[10:19] {dino} but it continues up
[10:19] {nemo} yeah it's going at least to 122
[10:20] {dino} not finding anything
[10:20] {nemo} we're at 61.8 retracement of 2007 top
[10:21] {dino} up 10% in week
[10:22] {dino} years in days anymore
[10:22] {Threei} Long Setup:  FCX  37 break
[10:22] {Threei}  half lot
[10:22] {dino} cmi not participating
[10:22] {Threei}  stop under .90
[10:25] {Threei}  nah
[10:30] {dino} sm l opnt .89
[10:33] {Threei}  rinse
[10:36] {Threei}  grrr
[10:44] {RonS} cmi sm s .52
[10:44] {dino}  cat sm s .25
[10:44] {dino}  stop .51
[10:45] {dino} stop opnt .80 -.08
[10:45] {dino} -.090
[10:48] {Threei} Short Setup: RIMM  .95 break
[10:49] {Threei}  changing to aggressive
[10:49] {Threei}  24 break
[10:49] {Threei}  if stays under .05
[10:50] {Threei}  very tight stop
[10:50] {nemo} .96 is vwap
[10:50] {Threei}  should lose it and die gorrible death
[10:50] {Threei}  horrible too
[10:52] {RonS} out cmi .10  +.42
[10:52] {Threei}  wtg
[10:53] {RonS} ty
[10:53] {Threei}  come on RIMM, lose that .95 already
[10:53] {Threei}  good boy
[10:53] {Threei}  half out .90
[10:53] {dino} gj
[10:53] {Threei}  scalpers be happy
[10:53] {z} nice one vad :)
[10:53] {Threei}  my love for aggressive entries gets reinforced once again
[10:54] {Threei}  some may say it's not a true love if it needs reinforcement...
[10:54] {RonS} going romantic, eh?
[10:54] {dino} cov cat .95, +.30
[10:54] {nemo} non-interference
[10:55] {Threei}  well, it's those "some" that do
[10:55] {Threei}  I just quote them :)
[11:01] {dino} feels like mkt wants to drop
[11:02] {nemo} just resting above vwap
[11:04] {dino} joyg sm s .60
[11:04] {Threei}  forgot to post
[11:04] {Threei}  closed RIMM in full at .83
[11:10] {dino} cov joyg -.05
[11:10] {Threei}  (EU) European Banking Authority (EBA) considering valuing all sovereign debt to current market value with regards to bank capital requirements - financial press
[11:10] {Threei}  - Affirms 9% core tier 1 capital ratio to be used as passing; will likely use same definition of capital as used in prior stress tests this year
[11:11] {Threei}  hah
[11:12] {Threei}  if they value sovereign debt at the current market value, aren't their banks dead in the water instantly?
[11:12] {dino} yes
[11:12] {dino} i think its po;itical speak and they will say 100%
[11:14] {Threei}  tough to do
[11:14] {Threei}  no person alive will believe that
[11:15] {dino} they will say its insured
[11:15] {thomcbell} this nuan looks good in every time frame
[11:15] {Threei}  100% means all debt can be repaid in time
[11:15] {Threei}  and moving burden to insurance comanies is what they started testing waters for, yes
[11:15] {dino} 3i, seriously, when do politicians tell the truth
[11:16] {thomcbell} weekly odd
[11:16] {Threei}  but we know that it's going to fail just as well
[11:16] {dino} yes, but next year now
[11:16] {Threei}  practically never, sure
[11:16] {dino} i think you see a qe foe euro
[11:16] {RonS} dino, when they say "i'm going to hit the head"?
[11:16] {Threei}  but don't underestimate one unusual side of today's situation
[11:16] {dino} salvation thru inflation
[11:17] {RonS} "i need a donation"?
[11:17] {Threei}  which is, lies accumulated and amassed to a degree where public started seeing through them and started geting involved
[11:17] {dino} but public is blaming business/bankers, not politicians
[11:18] {dino} public is dumb
[11:18] {dino} by design
[11:18] {Threei}  true, but it makes impossible for politcians to arrange the next round of bailouts
[11:18] {Threei}  well... not impossible
[11:18] {Threei}  difficult
[11:18] {dino} they will be gone by then, saved themselves
[11:19] {dino} it will be like the rats abandoning the ship
[11:19] {Threei}  we'll see how it develops... I have a feeling, this time around they won't be able to do it
[11:19] {Threei}  this keg with powder iks going to blow up
[11:19] {Threei}  and cord is shorter and shorter
[11:19] {Threei}  and there is one more thing
[11:19] {dino} sure
[11:20] {Threei}  even if europe manages somehow to keep balance,
[11:20] {Threei}  next explosive problem is china
[11:20] {Threei}  and it's not very far down the road
[11:20] {dino} but you forget, they own the euro printing press
[11:20] {Threei}  Not many pay attention to it right now
[11:20] {Threei}  simply because europian prblems take precedence
[11:21] {dino} i believe japan is next, as this carry trade that floats them gets tighter
[11:21] {Threei}  could be...
[11:21] {Threei}  so, to me it's one of two ways forward
[11:21] {patience} good morning
[11:21] {Threei}  patience :)
[11:22] {Threei}  eother Europe breaks down first
[11:22] {Threei}  and world economic collapse starts there and spreads to China
[11:22] {Threei}  or
[11:22] {Threei}  Europe overcome political difficulties and prints its way out,
[11:23] {Threei}  and China blows upo becoming the trigger of that sdame collapse
[11:23] {Threei}  if Japan manages to insert itself in the mddle, it's just a third way to same outcome :)
[11:24] {dino} i believe the printing press is what happens, they are too afraid to do what it takes. so inflate it away (for now)
[11:24] {Threei}  curiously enough, whichever scenario I try to play out mentally, the recovery starts in US
[11:24] {dino} agreed
[11:24] {dino} europe is showing the liberals that the welfare state does not work
[11:25] {RonS} dino, you must be kidding...liberals never learn
[11:25] {dino} cmi sm s .50 stop hod
[11:26] {dino} not hod .71
[11:26] {dino} roflol ron, what a joke they are
[11:26] {dino} who is john galt?
[11:27] {RonS} 3i, check this out...:
[11:28] {Threei}  cool :)
[11:28] {dino} cmi to b/e
[11:29] {Threei}  here is my ery forst camera:
[11:29] {Threei}  very first
[11:29] {Threei}
[11:29] {Threei}  ummm... almost.. it's 8th model, mine was 6
[11:30] {Threei}
[11:30] {dino} to .20
[11:30] {dino} cov cmi .20, +.30
[11:31] {RonS} gj...3i you posted a blank screen...
[11:31] {Threei}  hmm?
[11:32] {RonS} cannot see the camera unless it is invisible
[11:32] {Threei}  works here
[11:35] {RonS} maybe i should use this to address my rabbit situation:
[11:35] {Threei} Long Setup:  SLW  .80 break
[11:36] {dino} blank
[11:46] {nemo} wow, what a tease
[11:47] {Threei}  (EU) German Bank Group BDB: calls into question some of Barroso's recapitlaization proposals
[11:48] {Threei}  (IA) Pentagon Spokesperon: Iran assassination plot demands a diplomatic response, not a military response
[11:49] {dino} iran, we are so scared of the coming lecture
[11:49] {Threei}  they should be...
[11:50] {RonS} ohhhh, please don't waf you finger at us...
[11:50] {RonS} wag
[11:50] {dino} lol
[11:51] {dino} pru sm s .00 break
[11:57] {RonS} is rimm winding up to run into its gap?
[12:01] {dino} y
[12:04] {nemo} like tna here tight stop
[12:04] {Threei}  (PO) Portugal President Cavaco: EFSF program should be strengthened and the current issues need more assistance from the ECB
[12:04] {dino} like portugal should even speak
[12:06] {Threei}  lol
[12:06] {nemo} nope
[12:06] {Threei}  seriously... "increase the size and pace of bailouts" pledge coming from one of bailout recipients - how much wight can one put in it
[12:22] {dino}  stop pru .96, +.03
[12:33] {dino}  z having trouble
[12:33] {z} yea with mirc
[12:34] {z} get kicked automatically when i try to connect via mirc
[12:34] {z} any tips?
[12:35] {Threei}  looks like wrong password to me
[12:35] {dino} mibbit here
[12:35] {Threei}  server simply kicks out correct username
[12:35] {Threei}  that happens only when the password is wrong
[12:35] {z} ok will verify now...
[12:51] {Threei}
[12:52] {nemo} this should be the break to 122
[13:00] {dino} change his name to y
[13:01] {Threei}  why... incorrectly configured mirc won't connect, be it z, y or x :)
[13:02] {dino} joking
[13:03] {nemo} bid to cover on auction sucked
[13:06] {Threei}  but market marched higher yet :)
[13:06] {nemo} 122 is target, then decision is "stocks better, or bonds"
[13:06] {dino} reminds me of late june early july rally
[13:08] {nemo} aa
[13:11] {z} it's configured per the instructions vad, still no luck
[13:13] {Threei}  pragmatic is your best chance for help when he is in
[13:15] {z} np gonna send nemo a screenshot of the error
[13:25] {dino}  sm s pru .49
[13:26] {z} well that worked Nemo, thx
[13:27] {nemo} what, the command?
[13:27] {z} yup sure did
[13:27] {Threei}  cool... what was the problem?
[13:27] {z} when i put 'z' instead of IDENTIFY
[13:27] {z} weird
[13:27] {nemo} he's got something wrong in his setup
[13:27] {nemo} so told him how to run a command log-in, don't forget that
[13:28] {z} i changed the setup so didn't have to type anything when i opened the software after that fix
[13:28] {nemo} cool
[13:28] {nemo} but, don't forget that
[13:28] {z} thx anyways it's all good now
[13:30] {nemo} looks like we're going up again
[13:31] {nemo} FOMC non-event coming up
[13:32] {RonS} almost forgot
[13:32] {nemo} happens when you get old
[13:32] {RonS} happens with a clammy non-event
[13:35] {Threei}  lol
[13:35] {nemo} frickin POT
[13:43] {nemo} ADTN
[13:44] {dino} missed
[13:54] {dino} pru bstop to .40
[13:55] {RonS} ...a truly embarassing putz:
[13:57] {RonS} Fed's Fisher says "tanks are full" on liquidity, some feel we have overdone it .
[13:58] {RonS} Slovakia Has A Deal On The EFSF (vote Friday)
[13:58] {Threei}  they are idiots
[13:59] {Threei}  liquidity is not a problem
[13:59] {Threei}  there is plenty of liquidity sloshing around
[13:59] {RonS} lol...China Pegs Yuan Even Lower to The Dollar; In Response to Senate Passing Currency Bill
[13:59] {Threei}  and btw finiding its way into makrets and causing rallies
[13:59] {Threei}  lol
[13:59] {dino} smoot hawley again
[13:59] {nemo} now that's funny
[14:01] {dino} pru cov +.09 sheesh
[14:01] {RonS} gs, jpm screwed:  The Federal Deposit Insurance Corporation unanimously approved on Tuesday an initial version of the regulation, known as the Volcker Rule. Two other regulators followed suit, and the Securities and Exchange Commission is scheduled to vote on Wednesday.
[14:02] {dino} why not just turn in bank charters that gs took in '08
[14:03] {Threei}  they are so not, ron...
[14:03] {Threei}  they saw it coming for months and prepared long ago
[14:03] {dino} gs is going private imo
[14:03] {Threei}  trading desks are span off
[14:05] {nemo} toothless anyway
[14:10] {RonS} nuts, took my eye off adtn...
[14:11] {RonS} look cx
[14:12] {RonS} nuts, cannot short
[14:13] {Threei}  ron, look at GS
[14:13] {Threei}  does it look like screwed to you? :)
[14:15] {RonS} dunno, 1 year chart isn't exactly bullish...
[14:16] {RonS} -41% off high
[14:25] {RonS} ha... gs ramping on cnbc mention of volker rule - they may exit banking
[14:27] {RonS} this rally over if aapl gives up $400?
[14:28] {nemo} i think iwm has to get to 71.50 area
[14:33] {nemo} r3 for today on iwm is 71, that's a good possibility
[14:37] {Threei}  guys, who has a facebook account
[14:37] {Threei}  you know how I tarde like god when well rested... so help me win this contest and get free weekend in spectacular lodge
[14:37] {Threei}
[14:38] {Threei}  you'll see my entry at the top
[14:38] {Threei}  vote for it
[14:39] {z} wow nice photo vad
[14:39] {Threei}  :)
[14:48] {Threei}  what, no single click? come on
[14:48] {nemo} I did, or at least I thought I did
[14:48] {dino} no facebook acct
[14:49] {RonS} same here
[14:49] {z} same :(
[14:49] {Threei}  why does it say no votes...
[14:49] {nemo} says "voted" on my page
[14:49] {z} i can't even set up mirc correctly vad and you expect me to have a facebook acct.?   :)
[14:50] {Threei}  lol
[14:50] {Threei}  ahha, one appeared
[14:50] {dino} same here z
[14:50] {Threei}  thanks nemo
[14:53] {dino} edmc spike
[14:55] {RonS} fcx going for lod
[14:58] {dino} hig s .75
[15:00] {z} lol ben & jerry's made an Occupie wall street ice cream
[15:00] {z} no surprise there
[15:01] {RonS} can't believe unilever is letting them do this stuff...
[15:01] {z} those guys make obama look like newt gingrich, but good ice cream nonetheless :)
[15:01] {z} yea
[15:10] {dino} dmnd blood
[15:10] {RonS} nuts cracked?
[15:13] {RonS} pringles busted?
[15:13] {dino} lol
[15:18] {z} rimm pretty weak
[15:19] {dino} cov hig .63, +.12
[15:20] {RonS} gj
[15:22] {dino} ty
[15:25] {Threei}  FCX is getting killed
[15:25] {dino} idcc getting killed
[15:26] {dino} dang drop
[15:28] {dino} vsi
[15:28] {Threei}  wow
[15:28] {Threei}  FCX myst be thinking it's open again
[15:28] {patience} in fcx short, copper inventories in china double in inventory than previously believed
[15:28] {dino} wow
[15:28] {dino} can't trust those commies
[15:29] {Threei}  lol
[15:29] {RonS} ...sneaky...
[15:29] {Threei}  they report it now only to bid FCX cheap
[15:29] {Threei}  when they bought it, they'll report "sorry, no such invemntories"
[15:29] {Threei}  FCX will spike, they'll sell and laugh about idiot westerners
[15:29] {RonS} made up then, made up now
[15:29] {dino} no that the analysts
[15:30] {dino} they say buy when high sell when low
[15:30] {Threei}  oaid by those same chinese taders? :)
[15:30] {Threei}  paid
[15:30] {dino} most likely
[15:32] {dino} bus stop calls, later all, thx, decent day
[15:33] {Threei}  take care dino
[15:33] {z} cya dino
[15:33] {dino} :)
[15:49] {nemo} this action is wild
[15:54] {Threei}  no news
[15:54] {Threei}  just sudden move
[15:54] {patience} i saw my screen jump
[15:54] {Threei}  must be hft {G}
[15:54] {nemo} nah,   very important levels reached today, now they're chopping up
[15:59] {z} cya all tomorrow...good calls vad, ty
[15:59] {patience} ty vad
[16:01] {Threei}  thank you all
[16:01] {Threei}  patience... vote for my photo!
[16:01] {patience} i liked victoria pag
[16:01] {Threei}  have a great evening all, see you tomorrow
[16:01] {patience} then it hiccupped
[16:01] {Threei}  ?
[16:01] {larisa} bye :)
[16:01] {Threei}