Tuesday, October 25, 2011

Oct 25 2011

(Participation in the room in real time requires membership)

A bit too whippy trading today - we exchanged jabs with market, winning some and losing some. Then I decided to wait for one final breakdown which just had to come closer to the end of the day and that's when we got out day-fixing trade, TZA long for over 50 cents. Tomorrow promises to be interesting.

Session Time: Tue Oct 25 00:00:00 2011
[09:08] {Threei}  is it a gap down that we see??
[09:09] {Threei}  it can't be...can it?
[09:09] {dino} gm all
[09:09] {dino} wow nflx
[09:09] {Threei}  yeah, what a slaughter
[09:09] {dino} in july it was over 300
[09:10] {Threei}  sic transit gloria mundi
[09:10] {dino} fwiw gaps below dji 11539, 11103; ndx 2335, 2306, 2202; s/p 1238, 1215, 1155
[09:11] {RonS} gm...dated her in high school...
[09:11] {Threei}  Ron :)
[09:11] {Threei}  her - gloria? or transit?
[09:11] {RonS} gloria mundi
[09:12] {RonS} :D
[09:12] {Threei}  ah
[09:12] {RonS} look uis...gap right to resistance
[09:24] {dino} gap 25.40 area
[09:27] {Threei}  going to look at NFLX a little later
[09:27] {Threei}  not at the open
[09:28] {larisa} gm :)
[09:29] {RonS} hearing german govt and opposition party have agreed joint motion on efsf leverage...
[09:30] {Threei}  larisa :)
[09:31] {Threei}  they do it often ron :)
[09:32] {Threei} Long Setup:  FCX  .85 break half lot
[09:33] {Threei}  stop under .75
[09:33] {Threei}  target 39.20
[09:33] {Threei}  1:1
[09:33] {Threei}  stop to .79
[09:34] {Threei} Short Setup: SLW  .95 break
[09:34] {Threei}  FCX, scalpers win
[09:35] {Threei}  SLW 1:1
[09:35] {Threei}  1:2
[09:36] {Threei} Long Setup:  FCX  .50 break
[09:36] {Threei}  stop under .40
[09:36] {Threei}  no go
[09:37] {dino} 1238 filled
[09:38] {Threei}  wow FCX
[09:39] {dino} chk gap fill
[09:41] {Threei}  a lot of nervousness in the market
[09:41] {RonS} hearing eu meeting cancelled
[09:41] {Threei}  it's almost as if they started suspecting that EU might not come to resolution
[09:42] {Threei}  no, not full meeting
[09:42] {Threei}  only fin ministers
[09:42] {Threei}  summit itself is still scheduled to proceed
[09:42] {Threei}  (UK) UK confirms that Wednesday's Ecofin meeting has been canceled (note that this is the finance minister meeting, not the planned EU summit)
[09:42] {Threei}  **Note: the planned euro zone summit will proceed on Wednesday. A short Ecofin meeting had been scheduled before the euro zone meeting.
[09:43] {Threei}  but if this misunderstood headline is what caused the sharp drop, we just got a preview of what's to come if they throw arms up in the air
[09:47] {dino} whippy
[09:47] {Threei}  very
[09:48] {Threei}  numbers at 10
[09:48] {Threei}  consumer confidence and Richmod Fed manufacturing
[09:57] {Threei} Long Setup:  FCX  .65 break half lot
[09:57] {Threei}  if stays above .50
[10:00] {Threei}  *(US) OCT CONSUMER CONFIDENCE: 39.8 V 46.0E
[10:03] {Threei}  no go
[10:03] {dino} fcx stop -.16
[10:04] {Threei}  was a few cents from 1:1, really should have just dumped it
[10:04] {Threei}  but iot held so well on negative numers
[10:05] {dino} same
[10:05] {Threei}  was really tempting
[10:08] {Threei} Short Setup: LVS  .25 break
[10:08] {Threei}  if staysn under .35
[10:10] {patience} good morning
[10:12] {Threei}  patience :)
[10:13] {dino} fcx hl l .45
[10:13] {ese} christ.........good morning
[10:13] {Threei}  ese :)
[10:14] {ese} finally figured out what was wrong with the chart quotes
[10:14] {Threei} Short Setup: SLW  .40 break
[10:14] {Threei}  if stays under .50
[10:14] {ese} there is an internet time sync function that was not set properly
[10:15] {ese} had to figure it out myself .....those high paid tech goofs at questrade in toronto are still working on it........am gonna see how many days it takes them
[10:15] {Threei}  lol
[10:16] {Threei}  invalidated
[10:16] {RonS} ye olde time synch vortex , eh ese?
[10:17] {Threei}  rofl
[10:17] {ese} I guess thats what it is........
[10:17] {ese} that is funny
[10:17] {Threei}  chronoclastic incundibulum
[10:18] {patience} interesting...now my gdx and hgu trades are working with my tza position instead of opposite
[10:18] {ese} on windows vista all you have to do is click on the clock bottom....click on internet time and click sync.......this is funnier than hell those idiots still can't figure it out
[10:21] {Threei}  wow... SLW was a good two-sided play
[10:21] {dino} out fcx .81, +.36
[10:21] {ese} ya just lookin at that
[10:21] {Threei}  wtg dino
[10:22] {dino} ty for idea
[10:22] {Threei} Short Setup: SLW  .80 break
[10:22] {Threei}  if stays under .90
[10:22] {ese} nice dino
[10:22] {dino} ty
[10:24] {dino} stop slw -.11
[10:24] {Threei}  no go
[10:24] {Threei}  not delighted
[10:27] {Threei} Long Setup:  LVS  .65 break
[10:27] {Threei}  stop under .50
[10:27] {Threei}  target .90
[10:28] {Threei}  maybe .95
[10:28] {Threei}  two partials
[10:32] {Threei}  offering first half at .78
[10:32] {Threei}  hit
[10:32] {Threei}  stop for the balance to .59
[10:33] {Threei}  shoot me now
[10:33] {Threei}  look at this
[10:33] {Threei}  (US) Obama administration said to be planning to offer new student loan repayment options to help refinance private loans into a Govt program - financial press
[10:33] {Threei}  - Program may lower interest rates
[10:33] {Threei}  offering second half at .93
[10:34] {Threei}  stop trailed to .64
[10:34] {dino} he needs that college vote
[10:34] {Threei}  can't believe this... so transparently political, zero regard for economic realities
[10:35] {Threei}  let's do more of the same crap that got us into this mess, just need to get votes
[10:37] {Threei}  out second half b/e
[10:37] {Threei}  a few cents foolish
[10:39] {RonS} deal for what?...US envoy: Progress in N. Korea talks, but no deal
[10:39] {dino} big money, oil or food, every year same junk
[10:41] {Threei} Long Setup:  RIMM  23 break
[10:42] {RonS} for you ese:  “The trouble with quotes on the internet is that it’s difficult to determine whether or not they are genuine”  Abraham Lincoln
[10:42] {Threei}  rofl!
[10:44] {Threei}  ig holding above .90
[10:44] {Threei}  if
[10:45] {Threei}  target 1:2
[10:45] {dino} coh hl l .49
[10:46] {ese} slw just carrying ...carrying on
[10:47] {Threei}  look at GLD too
[10:47] {Threei}  feels like this is PM specific move,
[10:47] {patience} today would be classified as a very good day for me
[10:47] {Threei}  prep for AU summit failure
[10:47] {Threei}  which should send up bot PM and USD
[10:47] {Threei}  however strange it may sound
[10:47] {patience} ft report today that italy gov on brink of collapse
[10:48] {Threei}  yes
[10:48] {RonS} ...used to happen every week...
[10:48] {ese} hmmmmmmm.......wife and I are going there spring break.....might not be any country to visit?
[10:49] {Threei}  no one knows at this point ese... whole Europe might be a zone of riots by then
[10:49] {ese} hope not
[10:49] {Threei}  yeah... wouldn't be pretty
[10:50] {RonS} ...but better than going to thailand now...
[10:50] {ese} this buying in precious metals .....maye a good slug coming from those areas
[10:50] {ese} definitely
[10:51] {ese} patience....was that political colapse or economic colapse
[10:52] {RonS} nuts...lvs had me up, rimm took me to b/e
[10:53] {Threei}  same
[10:53] {Threei}  whippy
[10:53] {Threei}  let's take every second trade?
[10:54] {RonS} collapse this government and put patience in charge?
[10:54] {RonS} :D
[10:55] {ese} indeed
[10:55] {patience} http://www.ft.com/home/us
[10:59] {dino} coh stop
[11:00] {RonS} definition of bagholder dino?  strange day when a person beats fcx and gets whipped by coh on great earnings
[11:02] {Threei}  lol
[11:02] {dino} tell me about it. tough day
[11:03] {RonS} lol dgx up 12% on 70% div incr....10 to .17!
[11:03] {RonS} come on...on a $56 stock?
[11:04] {RonS} now gonna yield 1.5%...this market is nuts
[11:05] {ese} dino ...you wern't at HUBG by chance were you
[11:05] {ese} looking at
[11:05] {dino} no
[11:06] {ese} L 1/2 hubg .98
[11:07] {ese} off of 30.00 would have been better......we'll see
[11:07] {dino} ok
[11:08] {ese} stop .65
[11:09] {ese} not following mrkt.........i like that in a women..........errrrrrrr i mean stock
[11:09] {dino} lol
[11:19] {Threei} Long Setup:  TZA  .85 half lot
[11:19] {Threei}  stop under .70
[11:19] {Threei}  target 34.20
[11:21] {ese} in .83
[11:22] {ese} well .84........taking into account the 4 million decimal places after .83
[11:22] {Threei}  lol
[11:22] {ese} out 1/2 .91
[11:23] {ese} stopped on balance .84
[11:23] {ese} hmmmmmmmmmm
[11:23] {ese} tought i was gonna popo up more
[11:23] {Threei}  I still think so
[11:29] {Threei}  sigh
[11:29] {Threei}  not liking today
[11:31] {ese} just keep carrying on...........
[11:32] {ese} HUBG is about to do the same to me ....me thinks
[11:33] {Threei}  my thinking is,
[11:33] {Threei}  having this summit tomorrow, we are probably to see some drastic movement today yet
[11:33] {Threei}  getting it right can be that day-fixng trade
[11:33] {Threei}  and that's what I want to focus on
[11:34] {Threei}  btw, nemo says hello from the woods
[11:34] {RonS} ya, call the guardian and see what the rumour du jour will be
[11:35] {ese} what woods.....where is he?
[11:35] {Threei}  hunting
[11:35] {RonS} is bunny his lead dog?
[11:35] {Threei}  lol
[11:35] {ese} in Africa?
[11:36] {Threei}  unless Massachusets moved to Africa... no
[11:38] {ese} hmmmmmmmmm  Massa..........cre comes to mind
[11:50] {patience} partialled out 1/5th of hgu shares
[11:53] {patience} ese, dcc please
[12:01] {Threei}  market is frozen
[12:03] {Threei}  (EU) Eurogroup's Juncker: Reiterates that the Brussels summit tommorow will make final decisions; solution should not place undue burden on the ECB
[12:04] {Threei}  somehow to me it feels like it's rather: we made a final decision to postpone decision
[12:07] {dino} csh l break.35
[12:22] {Threei}  interesting read:
[12:22] {Threei}  http://www.cnbc.com/id/45031546
[12:27] {dino} pretty much what we are saying vad
[12:27] {Threei}  yes
[13:01] {Threei}  lol, from twitter:
[13:01] {Threei}  I'd be more enthusiastic on the coming Euro bailout but I'm just not crazy about all those heavy cream sauces
[13:09] {RonS} wynn smacks 'em again:  http://tinyurl.com/3rztwv3
[13:13] {Threei}  Wynn is a convert
[13:13] {Threei}  life-long democratic supporter
[13:15] {RonS} converts can be effective:  saul of tarsus, st augustine et al
[13:20] {RonS} lol...Capitalists Seek to Trademark #OWS #Occupy
[13:21] {RonS} http://tinyurl.com/6x2lsmx
[13:24] {Threei}  heh
[13:24] {RonS} crying over here...bored to tears...
[13:24] {Threei}  (IT) Italy center right party leader affirms the coalition will stay together - financial press
[13:24] {Threei}  - Reminder: Earlier reports circulated that political dysfunction was weighing on Italy, and that the govt could break down and out of agreement on various budget issues
[13:25] {RonS} whew...that was close...
[13:25] {Threei}  well, ow that it's ofcially denied we can believe it
[13:25] {Threei}  remember... never believe anything until it's officially denied :)
[13:26] {RonS} ffreakin italians took 50 years to create a country...200 years after everyone else in europe had done it
[13:39] {Threei}  (NV) Netherlands Fin Min: Transaction tax (tobin) should be global in nature; but Netherlands will not block a proposed tax
[13:39] {Threei}  **NOTE: this comment appears to be easing off a more hard line stance against a Tobin tax; on 9/20 the Dutch Fin Min said the Dutch Parliament will never initiate a fiancial transaction tax.
[13:40] {RonS} fslr fizzle
[13:40] {dino}   ceo out
[13:41] {RonS} lol...$FSLR has been renamed to Last Solar
[13:42] {larisa} lol
[13:45] {dino} seriously?
[13:45] {RonS} lol...FLASH - Reed Hastings taking over as CEO of $FSLR
[13:45] {RonS} ...these are jokes people...
[13:46] {dino} lol, ok
[13:55] {dino} hans drop
[14:00] {dino} gap fill
[14:00] {dino} sm l .00
[14:01] {dino} out hans .50, +.50
[14:02] {dino} osis sm l .97 ave
[14:06] {dino} sm l hans .50
[14:07] {dino} out hans .93, +.43
[14:07] {dino} too soon
[14:14] {dino} out osis .29 ave , +.32
[14:16] {Threei}  nice series
[14:16] {Threei}  getting day under control eh?
[14:17] {dino} took awhile
[14:21] {RonS} classic...TZA to acquire $NFLX and $FSLR "accretive, with synergies"
[14:25] {dino} coh sm l .00
[14:28] {RonS} pot smoked
[14:29] {RonS} 5.2 quake hits Japan's Fukushima prefecture - USGS
[14:38] {Threei}  SPY loss of support here is lucrative play
[14:38] {Threei}  can take a few tests
[14:39] {Threei}  successful one will send TZA through the roof
[14:39] {Threei}  so the general idea is TZA .40 break
[14:40] {Threei}  stop placement is probably under .20 - .25
[14:40] {dino} coh stop -.31
[14:40] {Threei}  half lot is the best idea
[14:40] {Threei}  since it can take a few tries
[14:40] {Threei}  treat it as a milk trade
[14:41] {dino} pot gap fill thurs
[14:41] {Threei}  partial out and target 35 and above
[14:44] {Threei}  not this time
[14:44] {dino} news?
[14:45] {dino} coh rinsed
[14:45] {Threei}  not that I see
[14:51] {swill} Vad, I got 0.11 on tza. Am happy with that
[14:53] {Threei}  cool
[14:53] {Threei}  I just need to keep my expectations low today
[14:54] {swill} me too
[14:58] {RonS} holy smokes...record high yesterday...4-8 inches of snow expected tonight and tomorrow
[14:58] {Threei}  ??
[14:58] {Threei}  you serious?
[14:58] {RonS} yep
[14:58] {Threei}  wow
[15:18] {dino} fslr-15
[15:20] {RonS} wants 40 break or 0, can't tell which...
[15:22] {RonS} who needs trainwrecks?
[15:27] {dino} sm l osis .76
[15:30] {Threei}  this drop just must happen today
[15:31] {Threei}  my gut is screaming it has to
[15:31] {dino} mine the other way, doesn't feel real
[15:31] {dino} hows volume?
[15:31] {RonS} lol...the runup flet real, eh?
[15:32] {RonS} felt
[15:32] {dino} no
[15:32] {dino} good point
[15:32] {Threei}  hehe
[15:32] {Threei}  volume is higher than yesterday's
[15:32] {dino} none of it feels real since june
[15:33] {RonS} ain't that the truth...
[15:35] {RonS} 3i, we need some recruiting around here:  http://tinyurl.com/69okdhm
[15:36] {Threei}  if I only knew how to recruit... :)
[15:36] {RonS} lol
[15:37] {dino} out osis ave .06, +.30
[15:37] {RonS} gj
[15:37] {dino} ty
[15:38] {RonS} must be a rocket scientist:  Art Cashin Sees Risk for Recent Rally
[15:38] {Threei}  rofl
[15:40] {Threei}  http://caracommunity.com/content/bill-caras-blog-oct-25-2011#comment-98451
[15:45] {Threei}  ok
[15:45] {Threei}  trying TZA again
[15:45] {Threei}  breakdown in SPY must be near
[15:45] {Threei}  took .67
[15:46] {Threei}  stop under .50
[15:46] {Threei}  want over 35
[15:51] {Threei}  brrrreakdown time
[15:52] {Threei}  out first partial .89
[15:53] {dino} gj
[15:53] {Threei}  let's take this 35
[15:53] {Threei}  about time, eh dino? LOL
[15:53] {Threei}  stop to .65
[15:53] {Threei}  next partail target is 35.09
[15:56] {Threei}  move your butt TZA
[15:56] {Threei}  5 cents more
[15:56] {dino} 2335 filled
[15:57] {Threei}  out second part
[15:57] {Threei}  next and last target is .35
[15:57] {swill} gj
[15:58] {Threei}  ty
[15:58] {Threei}  I knew I had it in me today... it was just buried a bit deeper than usual
[15:59] {swill} true
[16:01] {larisa} bye :)
[16:02] {swill} thank you
[16:02] {Threei}  have a good evening guys, see you tomorrow
[16:03] {dino} thx all, gn
[16:03] {Threei}  almost missed final bell, lol
[16:04] {Threei}  got too involved into last trade, lost sense of time