Thursday, October 13, 2011

Oct 13 2011

(Participation in the room in real time requires membership)

Very inactive day with few trades; profitable thanks to the right management.

Session Time: Thu Oct 13 00:00:00 2011
[08:24] {Threei}  (US) Preview: Weekly Initial Jobless Claims and Continuing Claims due at 08:30 ET (12:30 GMT)
[08:24] {Threei}  **Consensus expectations:
[08:24] {Threei}  - Initial Jobless Claims: 405Ke v 401K prior
[08:24] {Threei}  - Continuing Claims: 3.71Me v 3.70M prior
[08:31] {Threei}  (US) INITIAL JOBLESS CLAIMS: 404K V 405KE; CONTINUING CLAIMS: 3.67M V 3.71ME
[08:31] {Threei}  - Prior Initial Claims revised higher from 401K to 405K
[08:31] {Threei}  - Prior Continuing Claims higher from 3.70M to 3.73M
[09:13] {dino} gm all
[09:13] {Threei}  dino :)
[09:14] {z} gm 3i, all
[09:14] {Threei}  z :)
[09:22] {Threei}  slight gap down
[09:23] {Threei}  feels like market wants to try and climb higher
[09:23] {Threei}  at leastthat's the latest patern
[09:23] {Threei}  but daily is seriously overextended
[09:23] {dino} gaps below 11417, 11103; 2294, 2202; 1195, 1155
[09:26] {ese} gm
[09:27] {Threei}  ese :)
[09:27] {RonS} gm
[09:27] {Threei}  ron :)
[09:27] {Threei}  cipher, welcome aboard
[09:28] {larisa} gm :)
[09:28] {Threei}  larisa :)
[09:28] {patience} good morning
[09:28] {larisa} vad :)
[09:30] {Threei}  patience :)
[09:30] {Threei}  wsatchign FCX
[09:30] {Threei}  keep half lot prepared
[09:31] {Threei}  looking to short if spikes into .70 - .80 zone
[09:35] {Threei} Short Setup: SLW  32 break
[09:35] {Threei}  if stays under .10
[09:35] {Threei}  target 1:3
[09:36] {Threei}  standard procedure, 3 partials
[09:36] {Threei}  1:1
[09:37] {Threei}  stop to .03
[09:37] {Threei}  FCX no good entry
[09:38] {Threei}  one of those cases where you get the direction right but no setup
[09:40] {Threei}  SLW 1:2
[09:41] {Threei}  1"3, target hit
[09:41] {Threei}  me out
[09:41] {dino} gj
[09:41] {Threei}  ty
[09:42] {Threei}  opening trade in honor of chipher's first day as full pldge member
[09:42] {nemo} gag
[09:44] {Threei} Short Setup: RIMM  .30 break
[09:44] {Threei}  stop above .40
[09:45] {Threei}  milk trade candidate
[09:45] {Threei}  let's partial under .20 and then see how we can trail and ride
[09:45] {Threei}  girst part out .15
[09:45] {Threei}  first
[09:46] {Threei}  stop to .31
[09:46] {dino} tac sm l .51
[09:46] {Threei}  playing with house money
[09:46] {Threei}  second partial around .05
[09:47] {Threei}  here it is
[09:47] {Threei}  stop to .25
[09:47] {dino} gj
[09:47] {Threei}  ty
[09:48] {Threei}  clean nice trade, gave second chance entry for those wqho missed original
[09:48] {Threei}  then died without making us nervous
[09:49] {Threei}  not rushing to cover last 1/4
[09:49] {Threei}  will try to trail loosely and maximize profit
[09:49] {Threei}  ideally it stays under .20, loses 23
[09:50] {Threei}  stop to .21
[09:51] {Threei}  now want it to stay under .10 and lose .90 for the next trail
[09:51] {Threei}  .95 even
[09:53] {dino} 11417 and 1195 filled
[09:53] {ese} L holi .98
[09:54] {ese} this could be real interesting....shorters have killed this stock......short covering days as listed on the nasdaq site is 33
[09:54] {ese} hmmmmmmm
[09:55] {Threei}  FCX... grrrr
[09:55] {Threei}  right idea, no entry
[09:56] {dino} cat sm s .99
[09:56] {Threei}  stop to .15 RIMM
[09:56] {ese} stop .90
[09:57] {Threei}  stop to .11
[09:57] {Threei}  it may well be time to just cover
[09:58] {Threei}  but gut says, RIMM has a good chance to give more
[09:58] {dino} stopped .16
[10:01] {dino} cmi sm l .25
[10:03] {dino} cmi stop -.26
[10:07] {Threei}  oh boy
[10:07] {Threei}  read this
[10:07] {Threei}  (EU) Plans now under consideration are said to include idea of Greece debt haircuts taking place in two phases (termed "PSI-plus") - financial press
[10:07] {Threei}  - EU and banking leaders meeting in Paris today said to be considering various options for Greece, have still not settled on any single idea.
[10:07] {Threei}  - Ideas include a role for the EIB, and creating an intermediate fund for to be used for bank recapitalizations. Expectation is that Greece will have to do additional privatizations to help pay off debts.
[10:07] {Threei}  - Leaders expect the 6th Greek aid tranche will be released to Greece soon; Greece will have to give up some autonomy in exchange for the new loan package.
[10:07] {Threei}  - Follow up 09:28: PIMCO's El-Erian: Believes Europe will have a proposal for debt haircuts very soon.
[10:07] {Threei}  give up some autonomy?
[10:08] {ese} give up some autonomy?
[10:08] {Threei}  come on Greece, stand up and end this nonsense once and for all
[10:08] {ese} your thinkin the same thing as me
[10:09] {Threei}  this is ridiculous
[10:09] {dino} i woild not give up autonomy
[10:09] {Threei}  quiet invasion
[10:09] {ese} yup
[10:09] {Threei}  this is why EU must break down why it's not too late
[10:10] {Threei}  while
[10:10] {ese} thats kinda a..."wow" when you think about it
[10:10] {Threei}  yes, but that's where it was going all this time
[10:10] {Threei}  half union can't work
[10:10] {Threei}  monetary without fiscal
[10:10] {Threei}  and uniting fiscal part requires intergration that essentally ends sovereignity
[10:11] {Threei}  want to see how it shapes up eventually, look up Soviet Union
[10:12] {dino} would be better for greece to say f it and default
[10:14] {Threei}  absolutely
[10:14] {ese} even the bond people are saying that
[10:15] {ese} frees up a crap load of cash to restructure and do things right............but there greeks....lookin out for number one so that ain't gonna happen
[10:16] {Threei} Long Setup:  LVS  .40 break
[10:16] {Threei}  half lot
[10:16] {Threei}  stop under .30
[10:16] {Threei}  target 1:2
[10:16] {ese} stopped holi .89 -.09
[10:17] {ese} that was fun while it lasted.....not done with this
[10:18] {Threei}  no go
[10:18] {Threei}  (EU) No deal said to be expected on Greece debt haircuts before the EU summit on Oct 23 - financial press
[10:18] {Threei}  - REMINDER: Euro zone finance ministers have scheduled a meeting for Oct 21, two days before official EU summit.
[10:18] {Threei}  half lot was a good idea
[10:18] {Threei}  LVS is a bit too volatile lately
[10:28] {dino} hig l .70
[10:34] {dino} 07 green, giddy-up
[10:36] {Threei}  (SL) Slovakia parliament agrees to March 2012 as date for early election, as set forth by conditions of the opposition party for EFSF support- Debate on EFSF vote has now begun
[10:37] {dino} out hig .80, +.10
[10:46] {dino} vsi sm l .30
[10:56] {Threei} Short Setup: SLW  31 break
[10:56] {Threei}  stop above .10
[11:00] {Threei}  *DOE CRUDE: +1.3M V -500KE; GASOLINE: -4.13M V 0E; .2% V 87.3%E
[11:04] {Threei}  (SL) Slovakia parliament approves EFSF fund; as expected
[11:10] {dino}  chk l .07
[11:12] {RonS} took vit .05 to .45 +.40  thanks dino
[11:13] {Threei}  gj
[11:13] {dino} gj
[11:14] {RonS} meant vsi
[11:14] {Threei}  we don't care
[11:14] {dino} i understood
[11:14] {Threei}  gj is gj
[11:14] {Threei}  vit or vsi
[11:14] {RonS} good to know nemo
[11:15] {RonS} :D
[11:15] {Threei}  most who know him think differently
[11:15] {Threei}  they wish they didn't {G}
[11:16] {dino} out chk .19, +.12
[11:19] {dino} hig l .63
[11:23] {ese} duty calls.......have a great day
[11:23] {dino} cya ese
[11:23] {Threei}  take care ese
[11:23] {ese} cya dino vad
[11:23] {RonS} cya ese
[11:23] {ese} ron
[11:23] {swill} bye ese
[11:24] {ese} bought some holi at .95 we'll see what happens
[11:24] {ese} swill
[11:24] {nemo} I see we're having fun at my expense, you know how sensitive I am
[11:24] {dino} gutsy
[11:32] {z} how many votes for your photo contest now vad?
[11:32] {dino} out vsi .60, +.30
[11:32] {Threei}  21
[11:33] {Threei}  still short of needed to win
[11:33] {swill} I'll vote twice
[11:33] {dino} hig to .75
[11:34] {dino} out hig +.12
[11:38] {z} nice trades dino
[11:38] {dino} ty, started rough
[11:40] {Threei}  hmm
[11:40] {Threei}  I don't think you can, swill
[11:40] {swill} oh well
[11:41] {Threei}  you can ask others with facebook accounts
[11:41] {swill} k
[11:41] {Threei}  but wait
[11:41] {Threei}  I don't see your vote
[11:41] {swill} on the way
[11:42] {dino} sina
[11:42] {Threei}  oh :)
[11:43] {dino} strong arming him 3i, lol
[11:43] {Threei}  what can I do... life's tough
[11:43] {Threei}  and I want that prize :)
[11:44] {Threei}  nemo taught me to strong arm anything and anyone, no matter the reason
[11:44] {Threei}  just for the heck of it
[11:44] {dino} have to "represent"
[11:45] {RonS} whoa tqnt
[11:48] {dino} nxpi l .59
[11:52] {dino} to .70
[11:53] {dino} out +.11
[11:53] {RonS} gj
[11:53] {dino} ty
[12:07] {Threei}  Ron... who do you click on?? :0 no vote from you
[12:08] {Threei}  {--- strongarming everyone in sight
[12:08] {RonS} do not do facebook...sorry
06[12:08] * Threei slaps Alert around a bit with a request to vote
[12:08] {Threei}  ah
[12:09] {dino} nor i 3i
[12:10] {RonS} tqnt rocket
[12:11] {Threei}  well, I don't suppose I could stroingarm anyone into opening facebook account just to vote lol
[12:11] {Threei}  in fact I'd never had opened mine if not pressing business needs
[12:11] {dino} don't want it
[12:12] {Threei}  neither do I
[12:13] {dino} tqnt news?
[12:14] {Threei}  not that I see
[12:15] {RonS} tqnt... There is speculation that the company is a provider of power amplifiers for the iPhone 42.
[12:16] {Threei}  hmm?
[12:17] {Threei}  no, that's QCOM
[12:17] {Threei}  Qualcomm Inc Teardown of iPhone 4S indicates new phone uses Qualcomm wireless chipset - iFixit- Teardown confirms that iPhone 4S utilizes Avago power amplifier. - Teardown confirms that Skyworks component is included in the 4S.
[12:18] {Threei}  TQNT is merely listed among related stocks
[12:21] {RonS} my news pickup came from fidelity...fwiw...
[12:21] {Threei}  hey, maybe ruimor mongers spread different names for different news feeds
[12:22] {Threei}  this way they cover whole filed
[12:23] {dino} i say we short it at 7.20
[12:46] {dino} idcc sm l .11
[12:49] {Threei}  look at this cretin:
[12:49] {Threei}  (US) House Rep Frank requests the Congressional supercommitee implement a banking fee as part of attempts at deficit reduction- Fee would be aimed at the largest banks
[12:50] {dino} all they do is attack banks w/fees that get passed onto us
[12:50] {Threei}  unbelieavable
[12:54] {nemo} doesn't matter what it actually does, it's how you sell it to the moron long as they buy the reality is irrelevant
[12:57] {dino} you're right nemo
[12:57] {dino} and when 45% pay no income taxes and roughly 40% collect payments from govt. they like the idea
[12:58] {nemo} standard distribution across a qualified sample
[12:58] {nemo} yep...they're voters
[12:59] {nemo} since politicians do what gets them elected and not what is right...we're screwed...60 vaseline
[12:59] {dino} mrx spike
[13:00] {RonS} 3i, do not open 'cause you will be upset w/ me but nemo and dino...this is near classic:
[13:00] {nemo} yeah, saw was great
[13:02] {dino} funny ron
[13:02] {RonS} ...loved the last line..."meet at starbucks after..."
[13:02] {nemo} see what the shopkeepers are saying about them
[13:02] {dino} biggest joke is fnm, fre lead by congress/frank, started the whole mess
[13:03] {nemo} actually, his boyfriend
[13:04] {dino} but(t) the liberal media will not report the truth
[13:04] {nemo} defeats the drive towards socialism
[13:05] {RonS} newt nailed it...:
[13:07] {RonS} ovti iphone news Phone will shift to 8 million pixel CMOS image sensors, sensor maker OmniVision (OmniVision) won 90% of orders
[13:08] {Threei}  why would be upssdt about that?
[13:11] {dino} ovti sm l .50
[13:12] {Threei}  swill, thank you, got your vote
[13:12] {Threei}  dino.. TQNT
[13:12] {Threei}  maybe double-topping
[13:13] {dino} out idcc .41, +.30
[13:13] {dino} watching it
[13:15] {swill} wasn't sure if I voted or entered the contest
[13:17] {dino} tqnt sm s .05 stop .14
[13:18] {nemo} we
[13:22] {RonS} thor
[13:35] {dino} what do you make of thor ron?
[13:36] {Threei}  actually both, swill - a voter can win a prize too
[13:37] {RonS} thor no opinion...
[13:40] {swill} I'll have a look later, I mostly have family pics
[13:42] {dino} stop ovti .45 -.05
[13:43] {Threei}  no, I mean, by voting you have actually entered a conetst
[13:43] {Threei}  prize can be granted to a photograpgher and voter
[13:45] {swill} sounds good. thank you
[13:52] {dino}  thor s .00
[14:01] {dino} stop -.17
[14:02] {RonS} de blood
[14:03] {RonS} DE getting smashed after report that they are not shipping as many combines to dealerships.
[14:03] {RonS} because of used machine glut-on Bloomberg
[14:07] {RonS} nuts, wanted to short .60
[14:09] {dino} tqnt cov flat
[14:11] {dino} thgor rinsed
[14:15] {Threei}  good idea on TQNT
[14:15] {Threei}  it doesn't feel like reversing
[14:17] {dino} took it off my screen
[14:22] {nemo} c&h forming on spy
[14:23] {dino} you finding much today? all i seem to get are dimes
[14:24] {nemo} tna tza support and resistance plays
[14:25] {nemo} this has been the toughest week in a while for those though
[14:25] {dino} good to hear, thought it was just me
[14:26] {nemo} I'm hearing the same from other guys too...hard read this week...europe and earnings haven't really kicked off yet
[14:26] {swill} is c and h five min relevant?
[14:26] {Threei}  I think we did well considering
[14:26] {Threei}  just staying humble
[14:26] {Threei}  and inactive when nothing happens
[14:26] {swill} on slw
[14:26] {Threei}  it can be hard but it works
[14:27] {Threei}  it looks right swill
[14:27] {Threei}  but SPY drops
[14:27] {swill} ah
[14:36] {nemo} what up with sina?
[14:38] {dino} nothing new
[14:38] {RonS} short squeeze on m&a rumor
[14:38] {nemo} wow, imagine if something actually happened
[14:41] {dino} crazy stock to trade
[14:42] {Threei}  always was
[15:00] {dino} tac to .59 all day
[15:03] {z} spy tryng to go green
[15:11] {dino} out tac +.09
[15:12] {z} those dimes adding up for you dino, nice :)
[15:15] {dino} positive but way light again
[15:17] {patience} flat day for me, 2 trades
[15:20] {dino} 8 of 14 but scalps
[15:33] {dino} calling it a day, thx all
[15:33] {RonS} cya dino
[15:33] {Threei}  take care dino
[15:34] {swill} thx dino, have a good one
[15:44] {z} cya all tomorrow..take care
[15:45] {swill} tomarrow
[15:45] {Threei}  take care z
[15:53] {Threei}  ok guys, emoty second hafl ot he day
[15:53] {Threei}  empty
[15:53] {Threei}  thank you all, have a good eveninbg
[15:53] {Threei}  see you tomorrow
[15:53] {larisa} bye :)
[15:53] {patience} ty vad
[15:53] {swill} Thank you.