Tuesday, October 18, 2011

Oct 18 2011

(Participation in the room in real time requires membership)

5 calls, 5 wins - can it get any more perfect?

Session Time: Tue Oct 18 00:00:01 2011
[07:55] {_tarkus62} gm all
[08:43] {Threei}  good morning
[08:43] {nemo} eh
[08:43] {Threei}  I know
[08:44] {Threei}  German Finance Minister Schaeuble abruptly announced yesterday that investors should not expect a final solution for the Eurozone crisis during October 23rd summit.
[08:45] {Threei}  This healthy dose of reality check coupled with disappointing Chinese GDP dampened the optimism that had prevailed a few days ago after the G20 meeting.
[08:45] {Threei}  I am yet to understand where that optimism came from... seems so obvious there is no way EU will resolve it all in any relatively short time
[08:48] {Threei}  look at this beauty:
[08:48] {Threei}  EU Officials reiterated that the main idea for leveraging the EU bailout fund was to use it to guarantee first losses on new debt
[08:48] {Threei}  so, no one even doubts there WILL be losses, lol
[08:57] {Threei}  lol
[08:57] {Threei}  Yankees' Salaries vs. Everyone Else's. Where's The Outrage? How About An "Occupy Yankee Stadium"?
[09:09] {dino} gm all
[09:09] {Threei}  dino :)
[09:12] {Threei}  mother of all strikes in Greece
[09:12] {Threei}  http://www.reuters.com/article/2011/10/18/us-greece-idUSTRE79H1FI20111018
[09:30] {Threei}  is there a mibbit problem?
[09:30] {Threei}  not everyone seems to be able to connect
[09:30] {nemo} gs running
[09:32] {dino} ok here
[09:32] {Threei} Long Setup:  JPM  .55 break
[09:32] {Threei}  if stays above .45
[09:33] {Threei}  invalidated
[09:33] {Threei} Short Setup: FCX  .40 break half lot
[09:33] {Threei}  if stays under .55
[09:34] {Threei}  no chance?
[09:34] {Threei}  or anyone got it?
[09:34] {dino} no
[09:35] {nemo} didn't take it because of support at .30
[09:35] {Threei}  OK, same setup from here
[09:35] {Threei}  only with stop above .50 this time
[09:35] {Threei}  target 1:3, 3 partials
[09:35] {Threei}  1:1
[09:36] {Threei}  stop to ,.43
[09:36] {nemo} god bless ya
[09:36] {Threei}  scalpers win
[09:36] {Threei}  JPM got away
[09:37] {larisa} gm :)
[09:37] {Threei}  larisa :)
[09:39] {Threei} Long Setup:  RIMM  .80 break
[09:39] {Threei}  if stays above .70
[09:39] {nemo} .83 is pivot
[09:39] {nemo} I'd look for a short also
[09:40] {Threei}  invalidated
[09:40] {Threei}  on bounce, maybe...
[09:40] {Threei}  a bit too sharp rewd bar to chase short
[09:40] {nemo} just because pivot would make a nice resistance
[09:40] {dino} 07 green
[09:41] {Threei} Long Setup:  RIMM  .70 break
[09:42] {Threei}  correction, .65 break
[09:42] {Threei}  if holding .60
[09:42] {Threei}  invalidated
[09:46] {Threei} Long Setup:  TZA  .50 break half lot
[09:46] {Threei}  stop under .35
[09:47] {Threei}  target .90
[09:47] {Threei}  1:1
[09:48] {Threei}  a bit too sharp
[09:48] {Threei}  1:2
[09:49] {Threei}  target hit
[09:49] {Threei}  out .93
[09:49] {Threei}  and even that was too soon
[09:52] {Threei}  really really too soon
[09:52] {Threei}  lol
[09:54] {Threei}  FCX, did you have to rinse second half of our short?
[09:55] {RonS} sohu sm l .85
[09:57] {RonS} out -.30
[09:57] {Threei} Long Setup:  FCX  .40 break
[09:57] {Threei}  half lot
[09:57] {Threei}  stop under .25
[09:58] {Threei}  looks a good chance for double bottom
[09:58] {dino} sohu gap fill
[09:58] {dino} sm l .52
[09:58] {nemo} stop should be under .20, no?
[09:58] {Threei}  no
[09:58] {Threei}  1:1
[09:58] {Threei}  golds on, I'll explain when done
[09:58] {Threei}  hold on
[09:59] {dino} chk l .26
[09:59] {Threei}  stop to .39
[09:59] {Threei}  want 1:2
[10:00] {Threei}  *(US) OCT NAHB HOUSING MARKET INDEX: 18 V 15E
[10:01] {Threei}  stop to .45
[10:01] {Threei}  stop to .49
[10:02] {nemo} is LASER acting weird for anybody?
[10:02] {Threei}  no.. fine here
[10:02] {Threei}  out
[10:02] {cipher} fine here too
[10:02] {Threei}  should have just taken .67, was close enough to 1:2
[10:02] {Threei}  3 out of 3 so far
[10:02] {Threei}  can I just go home?
[10:03] {cipher} good calls 3i
[10:03] {Threei}  on that stop, while I remember
[10:03] {cipher} keep them coming
[10:03] {Threei}  ty cipher
[10:03] {Threei}  there was a very long tail on first bottoming candle,
[10:03] {Threei}  and lower BB started curving up,
[10:04] {Threei}  I want to see second bottom higher in this case,
[10:04] {Threei}  and if price dove below .25, it would pierce lower BB again
[10:04] {Threei}  rendering double bottom very unlikely to work
[10:04] {dino} sohu stop 0,33
[10:05] {Threei}  the chance of .20 holding after that would be so minimal, I was comfortable placing stop ynder .25
[10:07] {Threei} Long Setup:  FCX  .50 break
[10:07] {Threei}  half lot again
[10:07] {dino} sohu rinsed
[10:08] {Threei}  if stays above .40
[10:08] {Threei}  jf's favorite phrase when we are batting 100% in the morning: let's continue at this pace till first stop
[10:10] {Threei}  stop to .44
[10:10] {Threei}  1:1
[10:11] {Threei}  4 for 4
[10:14] {dino} gj vad
[10:14] {Threei}  ty
[10:15] {dino} sohu sm l .21
[10:15] {Threei}  after losing Fri and shaky yesterday, had to get back in the groove
[10:15] {nemo} sorry was busy with my platform bugs, spy bounced just above premarket low
[10:23] {dino} hal l .51
[10:29] {RonS} wow is hal on crack...got it .66 to .84  thanks dino
[10:30] {Threei}  wtg
[10:31] {RonS} freakin thing was jumping .05 in miliseconds
[10:36] {Threei}  this headline will keep me laughing for days:
[10:36] {Threei}  (US) Treasury Sec Geithner: Tax reform cannot be complete in only a few months; the code is full of special preferences that require reform
[10:37] {Threei}  you mean those same preferences that you used not to file your own tax return, tim?
[10:38] {dino} gj ron, gut says higher. trades like pulp today
[10:39] {dino} out hal .85, +.33
[10:40] {RonS} think it is caught up in that apc bp settlement story
[10:43] {dino} sm l sina .99 wide
[10:45] {RonS} lost internet for couple of min...that was unnerving...
[10:46] {dino} must be ron, great report, shale is booming for them, etcx
[10:47] {RonS} hal...think the machines are heavily involved today
[10:54] {RonS} dino in sohu .54 ave...what is your target...thinkin 55.45
[10:54] {dino} .22
[10:54] {RonS} tks
[10:55] {dino} could go lots more either way, that and sina all over charts
[11:04] {dino} out sohu .74, +.53
[11:04] {dino} will re-load
[11:05] {RonS} gj
[11:07] {Threei}  amazing consistency in this pattern:
[11:07] {dino} ty
[11:07] {dino} tricked me, went up
[11:07] {Threei}  morning, market drops bounceas, we get 4 trades, win all 4, last one is 10:07,
[11:08] {Threei}  then slow climb starts, I can't find anything
[11:08] {Threei}  look at 10:07 at the SPY chart
[11:14] {dino} out chk .59, +.33
[11:18] {Threei}  nice
[11:20] {RonS} sohu gonna rip if it breaks that 55 wall
[11:21] {dino} having lots of trouble w/it
[11:28] {Threei}  lol
[11:28] {Threei}  (EU) France Fin Min: working on a "strong response" for the EU summit on Oct 23
[11:28] {Threei}  as in "you cal all go to..."?
[11:35] {dino} chk sm l .45
[11:36] {dino} 07 all green
[11:36] {RonS} sohu wall order moved to .95
[11:38] {RonS} gone...
[11:38] {RonS} come on sucker...rippp
[11:39] {Threei}  (GR) Greece PM Papandreou: Country currently held hostage by protests and strike actions; will ultimately not help the country
[11:39] {Threei}  and your sellout will
[11:40] {Threei}  unfrikinbelieavable
[11:42] {RonS} out sohu .22  +.68
[11:42] {Threei}  wtg
[11:42] {dino} gj ron
[11:42] {dino} look sina
[11:43] {dino} sina to .99
[11:45] {dino} out sina .96, +1.97
[11:45] {RonS} gj
[11:48] {Threei}  Occupy Victoria folks set up living room and makeshift kitchen,
[11:48] {Threei}  and said they are not leaving until changes are made.
[11:49] {Threei}  considering that they haven't compiled any particular list of changes, beyond "do away with capitalism..."
[11:49] {RonS} ring, ring...calling the storm gods...
[11:50] {RonS} 50 mph wind/rain storm will change their tune
[11:50] {Threei}  swill... slept thrugh our winning trades in the morning... :(
[11:51] {swill} yes. bummer
[11:51] {Threei}  what amazes me about these folks,
[11:52] {Threei}  what they actually protest against (bailouts etc) is the act of socialism, not capitalism,
[11:52] {Threei}  and they should occupy Washington DC, not Wall Strteet
[11:52] {dino} right
[11:53] {RonS} thoeretically strictly speaking you are coreect 3i...bailouts are socialism...
[11:53] {Threei} Long Setup:  RIMM  23 break
[11:54] {Threei}  Research in Motion Ltd CEO: Plan to make some "exciting announcements" today - developer day presentation
[11:54] {RonS} but from the jump, in Adam Smith's texts he describes that business prople are anit- competition which is one result of the bailouts
[11:54] {RonS} anti
[11:54] {Threei}  right
[11:55] {Threei}  that's why sane regulation preventing monopoly is a great balance
[11:55] {RonS} corporations embrace government to stymie competition
[11:55] {Threei}  stop under .90
[11:56] {Threei}  1:1
[11:56] {Threei}  and 5 for 5
[11:58] {dino} nice day 3i
[11:58] {Threei}  very
[11:58] {dino} 5/6 here w/chk itm and open
[12:10] {Threei}  that blog post of mine went over 1000 views
[12:10] {Threei}  first time ever
[12:10] {Threei}  added some comments btw
[12:10] {swill} your on fire
[12:11] {nemo} give him a gold star for his forehead
[12:11] {swill} lol
[12:18] {dino} vad's going to be famous
[12:18] {Threei}  unless I get together with nemo and drink myself into oblivion
[12:19] {Threei}  ok, I am going to take an exception to the last words of this statement:
[12:19] {Threei}  (EU) ECB's Trichet: Govts should handle their responsibilities on debts, it is not the purpose of the ECB to fix the failures of Govts
[12:19] {Threei}  - Inflation expectations are firmly anchored; the Euro will exist in 10 years time
[12:19] {Threei}  10 years? I really doubt that
[12:39] {nemo} wow gmcr
[12:51] {Threei}  I am a shmuck
[12:51] {Threei}  was looking at GNCR for 81.40 breakut
[12:51] {Threei}  around 12:35
[12:52] {Threei}  decided it was a bit beyond risk tolerance
[13:31] {Threei}  anyone ever heard of bitcoin, electronic currency?
[13:31] {RonS} no
[13:31] {Threei}  good... 90 percent fall since the currency hit its peak in early June
[13:32] {Threei}  http://arstechnica.com/tech-policy/news/2011/10/bitcoin-implodes-down-more-than-90-percent-from-june-peak.ars
[13:32] {Threei}  funny... such drama, and I never even heard of its existence
[13:46] {RonS} lol:  http://tinyurl.com/684hv58
[13:47] {dino}  nflx smr l .30
[13:49] {Threei}  heh
[14:00] {dino} out nflx .90, +.60
[14:14] {Threei}  wrg
[14:14] {Threei}  sorry, took me a while to wake up
[14:14] {Threei}  coma is very deep
[14:14] {dino} thx
[14:18] {dino} chk to .84
[14:20] {nemo} gmcr weak in this strength
[14:20] {RonS} just add booze...
[14:24] {dino} look at hal back to flat
[14:25] {RonS} look bhi pten pbr
[14:25] {RonS} oxy
[14:26] {RonS} lots of energy names w/ big volume pockets overhead
[14:30] {dino} ?you mean gaps?
[14:31] {dino} or thin vol drops?
[14:31] {nemo} in the price drops there was very little volume at the different levels
[14:31] {nemo} won't be much supply coming in to get out of trapped longs
[14:31] {dino} ok, i get it
[14:32] {nemo} boy, can I sling it
[14:32] {dino} lol
[14:32] {dino} chk to .90
[14:32] {nemo} I think he's basically talking about the same thing I did on those levels in SPY and IWM in the weekend post
[14:33] {dino} w/ese i think he asked
[14:33] {nemo} yeah...
[14:34] {dino} see vad, we do read the posts
[14:34] {Threei}  wow
[14:34] {nemo} I guess my career in fiction writing has a chance
[14:35] {Threei}  prove it - write the last three books of War Against Chtorr
[14:35] {Threei}  millions of fans will pray for your health
[14:38] {dino} out chk .90, +.45
[14:40] {RonS} sm s chkp .02
[14:40] {Threei}  hmmm... nemo went to start writing or what
[14:41] {RonS} he's dancing...
[14:41] {RonS} ...the bunny hop...
[14:41] {Threei}  oh
[14:41] {Threei}  am I sorry I asked...
[14:41] {RonS} lol
[14:41] {Threei}  this image will burn my retina for days
[14:47] {cipher} thx Ron CHKP
[14:47] {RonS} what i took -.18
[14:48] {RonS} u went long?
[14:48] {cipher} I thought you called long
[14:48] {cipher} y
[14:48] {RonS} good for you...
[14:48] {cipher} looked like support to me
[14:50] {dino} s=short
[14:50] {cipher} sorry
[14:50] {dino} but gj
[14:50] {cipher} im kinda new to this
[14:51] {cipher} doing better with order routing today, thx to 3i
[14:52] {Threei}  :)
[14:52] {dino} beam spike
[14:53] {dino} fbhs spike
[14:54] {RonS} sheesh, nemo hit the bar?
[14:57] {Threei}  that would be my gueasa
[14:57] {Threei}  guess
[14:57] {Threei}  and odds are on my side
[14:58] {dino} the way you spelled guess i thought you had joined him
[14:59] {Threei}  lol
[14:59] {Threei}  I wish
[15:03] {dino} thinking there must be alot of trapped shorts from yesterday
[15:03] {dino} gaps above 11644, 2371, 1224
[15:04] {dino} hft
[15:09] {RonS} 2 trillion rescue funds agreed- france and germany
[15:09] {RonS} hearing not confirmed
[15:12] {Threei}  (EU) European officials are close to agreement on details of EFSF plans for the Cannes Summit on Oct 23rd - UK Guardian
[15:12] {Threei}  - France and Germany have reached agreement to boost the EFSF, EU diplomats said.
[15:12] {Threei}  - Latest plans discussed by the Guardian include allowing the EFSF to offer first-loss guarantees for bondholders, be they private or public. Senior officials say this plan will lever the fund to 2T compared with the current 440B in funding. This would effectively make the EFSF an insurer, overcoming ECB resistance to the idea of turning into a bank.
[15:12] {Threei}  - Berlin and Paris have agreed that Europe's banks should be recapitalised to meet the 9% capital ratio that the European Bank Authority is demanding following its re-examination of the exposure levels of between 60 to 70 "systemic" banks.
[15:12] {Threei}  - France and Germany are close to agreeing on the increased share of private sector involvement.
[15:12] {dino} 1224 filled 2371 filled
[15:12] {dino} 11644 filled
[15:12] {dino} did not expect that today, was just posting for ref.
[15:17] {dino} another 300 pt range day
[15:30] {Threei}  consequences of all this mess just became heavier by about $2T
[15:31] {dino} am i reading this correct, 2t=inflating it away=devalue euro?
[15:31] {Threei}  considering that no one is going to repay it, yes
[15:32] {dino} hard assets should move up on this
[15:32] {Threei}  gld and silver did
[15:33] {Threei}  retracing somewhat
[15:33] {Threei}  it's still not a signed agreement
[15:33] {dino} in any case, gotta hop, thx all, good day, good time, back for close maybe
[15:33] {Threei}  and who knows what kind of riots we may see tomorrow
[15:33] {Threei}  take care dino\
[15:40] {Threei}  OK guys, going to leave at this
[15:40] {Threei}  thank you all, see you tomorrow
[15:41] {larisa} bye :)