Friday, November 11, 2011

Nov 11 2011

(Participation in the room in real time requires membership)

Shaky start, but the rest of the day went much better and allowed to squeeze profit. Catch of the Day:

Session Time: Fri Nov 11 00:00:00 2011
[09:07] {nemo} When the moon hits your eye, like a big pizza pie, that's amore...
[09:08] {Threei}  hmmm
[09:08] {Threei}  say what?
[09:08] {nemo} kept drinking through the night, sorry
[09:08] {Threei}  ah
[09:09] {Threei}  so business as usual
[09:09] {nemo} except not trading
[09:09] {Threei}  grr
[09:11] {dino} gm all
[09:12] {Threei}  dino :)
[09:12] {Threei}  (EU) EU President Van Rompuy: Plan to hold Euro Zone Summits immediately after European Council meeting
[09:12] {Threei}  s- Euro is a political project but cannot survive without sound and stable economic foundation
[09:12] {Threei}  - Italy will have real work to do after parliament approves latest budget steps ; implementation remains critical
[09:16] {dino} a thanks goes out to all veterans
[09:16] {Threei}  second that
[09:20] {Threei}  - EU said to have rejected China's conditions for providing funds to ease debt crisis
[09:20] {Threei}  - German Vice Chancellor Roesler rejected the concept that ECB had unlimited firepower and added that
[09:20] {Threei}  once ECB opened the floodgates they could never be closed again
[09:20] {Threei}  - German CDU (coalition) party said to pass motion to reject two-speed Europe concept
[09:22] {jakob} good morning
[09:22] {Threei}  jakob :)
[09:23] {thomcbell} futures up 14 aapl up 1.50 - may as well be down 3
[09:24] {Threei}  CS:
[09:25] {Threei}  � We are approaching the point where the ECB has to show its hand and accept its role as a lender of last resort. Yet, the question is how much further turmoil is required for it to do so.
[09:25] {Threei}  � Italy is the linchpin of the Euro-crisis: it accounts for 17% of European GDP, 7% of Germany exports directly and 25% of Euro-area government bonds outstanding. Without Italy, we believe, there is no Euro. If Italy were (somehow) to leave the Euro, the other members of peripheral Europe would be forced to leave as well, given the degree of competitive devaluation.
[09:25] {Threei}  � Italian bond yields need to be below 6%-6.5% for the funding arithmetic to be sustainable. If the Italian parliament passes the austerity measures (as seems near certain) this week-end and then forms a technocratic government enjoying widespread support with no elections until summer (a scenario that has a 60% probability, in our view), this, together with some help from the ECB, should help BTP yields to fall to 6%. Yet, there is clearly a lot room for political slippage.
[09:25] {Threei}  � If BTP yields stay at current levels, the ECB has to significantly step up its purchases of Italian government debt. Yet, it is unlikely to do so if Italy refuses to implement the agreed austerity measures. These are almost certain to pass, in our view. However, if they did not, we would really struggle to see how the Euro survives in its current form.
[09:26] {Threei}  now, read this carefully,
[09:26] {Threei}  this is dino's scenario:
[09:26] {Threei}  � The moment the ECB starts to act as a genuine lender of last resort, we effectively get open-ended QE (even if the ECB is not printing money). In time, this would lead to QE3 in the US (owing to dollar strength) - and thus the end game: more printing and negative real 10-year bond yields, which would greatly alleviate government debt burdens, drive down savings ratios, reduce the cost of capital and push investors into risk assets.
[09:27] {Threei}  � There are only two long term solutions to the situation in peripheral Europe: growth (via a weaker Euro in the short term, higher productivity in the long-term) or the mutualisation of debt (via Eurobonds or ECB buying - yet, in the short term, the ECB is the only practical option).
[09:28] {Threei}  � On the negative side, the more policy makers in core Europe talk about the possibility of a country leaving the Euro (following Sarkozy's remarks on Greece last week and leaks on Reuters overnight), the greater the possibility of a default. This is because the deposit flight is likely to accelerate (there are still �� 187bn of deposits with Greek banks). Either this has to be offset by the ECB repoing more domestic bonds (thereby mutualising the debt) or loans in the periphery have to fall a lot further (leading to unsustainable deflation and default).
[09:28] {dino} hmmm
[09:31] {Threei} Long Setup:  FCX  .90 break
[09:31] {Threei}  if stays above .80
[09:32] {thomcbell} lvs sold into right away
[09:33] {Threei}  let's trail to .84
[09:33] {Threei}  was 1 cent from 1:1
[09:34] {Threei}  wow LVS
[09:34] {Threei}  out FCX
[09:34] {thomcbell} mpel probably a short
[09:36] {Threei} Short Setup: RIMM  .85 break
[09:36] {Threei}  if stays under .95
[09:37] {Threei} Long Setup:  LVS  .20 break
[09:37] {Threei}  if holding .10 for scalpers
[09:37] {Threei}  .05 day traders
[09:38] {Threei}  target about .55
[09:39] {Threei}  RIMM no go
[09:41] {Threei}  LVS 1:1 scalpers
[09:41] {Threei}  1:1 day traders
[09:41] {Threei}  1:2
[09:41] {Threei}  target hit, out
[09:44] {Threei} Long Setup:  FCX  .60 break
[09:44] {Threei}  if holding .50 of course
[09:45] {Threei}  hmm
[09:45] {Threei}  FCX is not obeying today
[09:45] {Threei}  leaving it alone
[09:47] {Threei} Long Setup:  SLW  .80 break
[09:47] {nemo} may db here, but this big gap up
[09:48] {Threei}  I don't know, I'd rather go for .40 break short
[09:48] {Threei}  with stop above .50
[09:48] {nemo} we're gapping up on the thought italy solved it's problem, but we're going into the weekend...we should STB soon
[09:48] {Threei}  SLW invalidated
[09:49] {Threei}  if this one doesn't work on FCX. it's off the screen for the rest of the day
[09:50] {Threei}  1:1
[09:50] {thomcbell} i like FCX coming into the pivot 39.15ish
[09:50] {Threei}  nailbiter, but finally works
[09:51] {pragmatic} what 1:1 ? are we playing anything ?
[09:51] {Threei}  scroll up
[09:51] {pragmatic} SLW the last one
[09:51] {Threei}  [09:45] {Threei} FCX is not obeying today
[09:51] {Threei}  [09:45] {Threei} leaving it alone
[09:51] {Threei}  [09:47] {Threei} Long Setup: SLW .80 break
[09:51] {Threei}  [09:47] {nemo} may db here, but this big gap up
[09:51] {Threei}  [09:48] {Threei} I don't know, I'd rather go for .40 break short
[09:51] {Threei}  [09:48] {Threei} with stop above .50
[09:52] {pragmatic} traders talk
[09:52] {pragmatic} watching for color triggers
[09:52] {Threei}  and you are?...
[09:52] {pragmatic} I am watching charts
[09:52] {thomcbell} wow aapl
[09:52] {pragmatic} with my eye on green and read in mitc
[09:54] {Threei} Short Setup: LVS  .40 break
[09:55] {dino} fcx l .30 stop .19
[09:55] {Threei}  good numbers from Mich confidence
[09:55] {dino} to .49
[09:55] {dino} out +.19
[09:56] {Threei}  IMF comment on G20: Global demand rebalancing has stalled; elevated risk of falling back into recession in advanced economies
[09:56] {Threei}  let's scratch LVS
[09:56] {Threei}  no, too late
[09:56] {Threei}  out
[09:58] {dino} these imf guys are clowns, "oh really?"
[09:59] {Threei}  heh
[10:01] {Threei} Long Setup:  DHR  .70 break
[10:01] {Threei}  if stays above .60
[10:04] {Threei}  (SL) Slovakia PM: An EMU may need to be broken up as a de facto separation already exists
[10:04] {Threei}  who let this guy speak the t\ruth??
[10:05] {dino} chk sm l .70
[10:05] {Threei}  let's trail DHR to .64
[10:05] {Threei}  50 is magnet on daily
[10:05] {Threei}  looks good, but SPY may snap here
[10:05] {Threei}  so want to keep risk tight
[10:06] {Threei}  see what I mean about SPY?
[10:07] {Threei}  looked very tense near .50
[10:08] {nemo} myabe resistance at .50 area, but clear sailing to the 200 ma at 127.45 or so
[10:08] {nemo} IWM has resistance around 74.20, that could slow things down
[10:09] {dino} r3 127.04
[10:10] {nemo} yeah, and iwm at r2 now
[10:11] {dino} i run that vwap chart all day on s/p thx nemo
[10:11] {nemo} sure
[10:11] {Threei} Long Setup:  SLW  36 break
[10:11] {nemo} it's amazing how often the indexes inflect at these points...
[10:12] {Threei}  stop under .90
[10:13] {dino} brli blood
[10:13] {Threei}  SPY's losing will to live
[10:13] {dino} going for 6/09 gap fill
[10:14] {dino} watch 125.99 spy
[10:16] {Threei}  out SLW
[10:18] {dino} brli filled
[10:18] {RonS} dar l .54
[10:20] {Threei}  DHR 1:1 close enough
[10:20] {Threei}  half out, stop to .69
[10:23] {dino} lng l .22
[10:25] {thomcbell} wow lvs
[10:26] {Threei}  yeah, was looking at it too
[10:26] {Threei}  but didn't see any confident entry
[10:27] {Threei}  this pullback to about .80, maybe
[10:27] {RonS} dds v sm l .10
[10:27] {thomcbell} aapl has real problems today
[10:27] {Threei}  as aggressive entry for 45 break
[10:28] {Threei} Long Setup:  LVS  .85 break
[10:28] {Threei}  if holding .75
[10:29] {thomcbell} ok
[10:29] {Threei}  see C&H forming?
[10:30] {pragmatic} on LVS ?
[10:31] {Threei}  half out
[10:31] {dino} dds pulp type huh ron
[10:31] {Threei}  scalpers got over 1:2
[10:32] {RonS} ya...dallas based so crazy texans involved...
[10:32] {thomcbell} wow industrials very strong
[10:32] {thomcbell} cat tex hon
[10:33] {cipher} dds nice one Ron, thx
[10:33] {RonS} yw
[10:33] {cipher} brli thx dino :)
[10:33] {dino} out dar +.15 ty ron
[10:34] {Threei}  aggressive entries on C&H, one of my favorites
[10:34] {dino} np bro
[10:34] {Threei}  DHR nears 50
[10:34] {Threei}  1:2
[10:34] {Threei}  out
[10:35] {Threei}  day becomes brighter
[10:37] {RonS} out dar .86 +.32  dwarf patience size
[10:37] {RonS} :D
[10:39] {dino} dds odd looks like a decent beat
[10:42] {Threei}  LVS 1:3
[10:42] {Threei}  1/4 more out
[10:44] {Threei}  1:4, out +.40
[10:44] {thomcbell} good patience
[10:44] {Threei}  whew
[10:44] {Threei}  needed this trade to get solidly in black
[10:44] {Threei}  it's one of my core setups
[10:45] {Threei}  seeing it a lot as I go over screenshots for the course
[10:45] {Threei}  played it more than I even realized, lol
[10:45] {Threei}  entry for C&H break as handle starts turning up
[10:45] {thomcbell} fcx lousy
[10:46] {dino} cgk to .80 slow
[10:46] {dino} chk
[10:47] {RonS} just spent the last minutes looking for cgk post...
[10:47] {dino} lol
[10:47] {dino} blind typing
[10:47] {Threei}  lol
[10:47] {Threei}  with fins, too
[10:48] {dino} paws
[10:49] {dino} out dds .91, +.41 ty ron, you da man today
[10:49] {RonS} 3i, no offense to you but sometimes i do miss dino's posts in the heat of battle
[10:49] {RonS} casual suggestion...can dino have his own tab so i can check that occasionally?
[10:50] {Threei}  hmmm
[10:50] {Threei}  I've no idea how to do that
[10:50] {Threei}  you can set a alert on his posts
[10:50] {dino} would put too much pressure on me ron
[10:50] {RonS} ok...has crossed my mind before...good 'nuff
[10:51] {Threei}  it can be done in mirc, not sure about mibbit
[10:51] {RonS} dds stop to .80
[10:51] {dino} wtfg
[10:52] {dino} i thought it would pullback to .50s
[10:52] {Threei}
[10:52] {RonS} stopped +.70
[10:52] {dino} nice
[10:53] {dino} chk to .95
[10:53] {thomcbell} nice sales lvs vad
[10:54] {Threei}  took DHR off a bit early though
[10:55] {Threei}  nears 1:3
[10:55] {Threei}  1:4, sorry
[10:55] {dino} ssssssssllllllllaaaaaaaaaaaapppppppppppp
[10:55] {dino} chk to .04
[10:55] {Threei}  suuuure... just as I got used to tyoing with my knees, I am getting slapped
[10:56] {dino} :O
[10:58] {RonS} dds v sm l .60
[10:58] {dino} out chk .08, +.38
[10:58] {RonS} wtg
[10:58] {dino} ty
[11:03] {RonS} so not the logical opposite of this that the world will never fall into recession?...IMF Warns Developed Nations May Fall Into Recession
[11:03] {Threei}  lol
[11:04] {Threei}  it just confirms, ron... "Common sense isn't" :)
[11:06] {Threei}  Euro vs US Dollar Goldman Sachs analysts recommend buying Euro; target of $1.40 (timing uncertain)
[11:06] {Threei}  ummm
[11:06] {Threei}  this I don't understand
[11:06] {Threei}  there are two ways forward
[11:06] {Threei}  break up of EU or endless printing
[11:07] {Threei}  in which of them Euro is a buy?
[11:07] {dino} gs is short
[11:12] {dino} lng to flat, thing won't move
[11:13] {RonS} ...guess you could say it's frozen...
[11:13] {dino} just moved to .29
[11:14] {dino} ugh chk
[11:14] {dino} out lng .29, +.07
[11:18] {dino} r3 127.04
[11:19] {RonS} out dds .90 +.30
[11:20] {RonS} so dino did you get that joke?
[11:21] {Threei}  there was a joke?
[11:21] {dino} ?
[11:21] {RonS} how do you make lng?
[11:21] {dino} ahh, freeze it
[11:22] {RonS} take ntural gas and freeze it to make lng...
[11:22] {dino} it's friday ron, my mind is too cluttered
[11:25] {Threei}  oh boy
[11:25] {Threei}  and this man picked on my jokes
[11:25] {RonS} lol
[11:26] {Threei}  as little Johnny said looking in the parents bedroom keyhole, "and these people forbid me to pick my nose??"
[11:32] {Threei}  Romney gets favorable reviews from 48% of all voters, Gingrich 38%, Cain 37%, Just 25% Have Favorable opinion of Rick Perry
[11:32] {Threei}  I am telling you... no one can beat Generic Republican
[11:32] {Threei}  what a shame such creature extinct
[11:33] {thomcbell} aapl
[11:33] {Threei}  Ron Paul is above Perry but not by much
[11:33] {thomcbell} getting a bit of fight
[11:34] {Threei}  too bad.. his economy views are excellent but every time he speaks on foreign policy, word "unelectable" fires up on his forehead
[11:34] {Threei} Short Setup: LVS  45 break
[11:35] {Threei}  US National Highway Traffic Safety Administration (NHTSA) regulators to open investigation into lithium ion batteries used in plug in vehicles
[11:35] {Threei}  - Investigation surrounds crashes and related fire safety following a fire in a GM Volt after a crash test
[11:39] {dino} dds sm l .28
[11:43] {Threei}  LVS is valid
[11:44] {Threei}  off again
[11:46] {thomcbell} lvs 40.01 Vad
[11:46] {thomcbell} fcx
[11:46] {thomcbell} i mean
[11:46] {Threei}  if SPY starts new leg of rally, yes
[11:47] {Threei}  need some tighter consolidation
[11:47] {Threei}  this latest rejection threw it off
[11:47] {dino} alim drop
[11:48] {RonS} $ALIM halted T1 News
[11:48] {patience} good morning
[11:48] {dino} ty
[11:48] {Threei}  patience :)
[11:49] {Threei}  LVS
[11:49] {Threei}  valid again
[11:49] {Threei}  stop above .10
[11:56] {Threei}  nah
[12:14] {thomcbell} klac is solving the world's problems - why doesnt it just buy italy or at least a couple of regions
[12:15] {thomcbell} i mean does this thing really look like this
[12:15] {Threei}  lol
[12:18] {dino} wow brli
[12:21] {dino} dmnd -60 pts in 2 months
[12:22] {RonS} accounting q's...restatement expected
[12:23] {Threei}  sic transit gloria mundi:
[12:23] {Threei}  Sean Quinn, three years ago listed as Ireland�s richest man, has been declared bankrupt in a Northern Ireland court over alleged debts of �2.8bn to the Irish state-owned lender Anglo Irish bank.
[12:23] {Threei}  The 64-year old businessman�s insurance, cement and property empire collapsed last year following a multibillion euro stock market gamble on the share price of Anglo, which was nationalised during Ireland�s banking crisis.
[12:24] {Threei}  isn't it amzing how quickly this can happen
[12:24] {Threei}  one bad bet
[12:26] {Threei}  as old russian saying went, never forswear jail and soup line
[12:33] {Threei}  (EU) ECB's Stark: Expects EMU wide growth in Q4 to be very weak; {b}reiterates ECB will never be the lender of last resort{/b} - Swiss press interview
[12:33] {Threei}  - Weakness dependent on how quickly politicians can deal with their political problems.
[12:33] {Threei}  - No risk that ECB will fail in its price stability mandate.
[12:33] {Threei}  - ECB has maneuvering room on interest rates.
[12:33] {Threei}  - Doubts that a bigger EFSF can help solve structural or political problems.
[12:33] {Threei}  well... if ECB will never be the lender of last resort, it's all over for EU
[12:34] {Threei}  who will if not ECB
[12:34] {Threei}  and it's becoming increasingly obvious that without one, EU can't survive
[12:35] {dino} who would want too
[12:35] {Threei}  only entity able and willing to print
[12:36] {Threei}  there is simply no other way
[12:36] {dino} funny how the euro was going to replace the dollar as reserve two years ago
[12:36] {Threei}  yeah, no kidding
[12:36] {Threei}  I couldn't believe this silly talk back then
[12:36] {Threei}  wonder where all those who pushed that view are now
[12:37] {Threei}  I mean, how can I bend in a way allowing to put the toungue where theirs are now...
[12:37] {Threei}  how can one
[12:37] {dino} begging for jobs
[12:37] {Threei}  (GR) Greece Opposition leader plans elections for Feb 19
[12:38] {Threei}  Obama 43%, Romney 42%
[12:39] {Threei}  doesn't mean much with elections 1 year out... but isn't it indicative of how clueless electorate is?
[12:39] {dino} god help us is obamination gets re-elected
[12:40] {Threei}  seriously, you guys better find that Generic Republican
[12:40] {Threei}  he is your only hope
[12:43] {Threei}  SPY loses .50 and drops, X is likely to lose 26 and give at least a scalp
[12:43] {Threei}  LVS is strangely strong
[12:45] {dino} dds stop-.28
[12:47] {Threei}  what the deuce with LVS
[12:48] {Threei} Short Setup: LVS  .65 break
[12:49] {Threei}  1:1
[13:00] {Threei}  wow
[13:02] {thomcbell} fcx coming back on VAD radar
[13:02] {thomcbell} sneaking up to highs
[13:03] {RonS} dds v sm l 49.60
[13:04] {cipher} got in at .45
[13:05] {cipher} out .76 thx ron
[13:05] {dino} gj
[13:05] {dino} lol alim, thx for the halt
[13:06] {dino} just scewed all lom=ngs no chance to get out
[13:06] {dino} longs
[13:06] {dino} the rationale for halts is idiotic
[13:08] {dino} think about it, you can't get out at 6 but we'll let you at 1, who comes up w/this
[13:12] {Threei}  heh
[13:12] {Threei}  protectinbg us from ourselves
[13:13] {dino} hl l .95
[13:17] {thomcbell} 0.65 on HL?
[13:21] {Threei}  ,
[13:21] {Threei}  dino meant half lot I believe
[13:21] {dino} y
[13:22] {dino} alim half lot l .95 is what i said
[13:22] {thomcbell} gotcha
[13:23] {RonS} here i thought it was hecla...hl
[13:23] {cipher} dds lower
[13:26] {RonS} j h christ dds has 24% short to be a cover rally, no?
[13:27] {cipher} no fill dds l
[13:27] {cipher} tried .28
[13:28] {dino} don't trust it yet, dds, lower low
[13:28] {cipher} just scalping
[13:29] {dino} ok
[13:29] {dino} x breakdown under .00 vad?
[13:29] {Threei}  can't tell
[13:29] {Threei}  it's dancing there for so long
[13:30] {Threei}  needs really determined SPY drop
[13:30] {Threei}  (RU) Russia PM Putin: Uncertain if the IMF and the EFSF have enough resources to handle the EMU crisis
[13:30] {Threei}  - must avoid Italy collapse.
[13:30] {Threei}  - ECB should step in to help finance the EMU bailout; cannot resolve the crisis without ECB.
[13:31] {Threei}  Putin: you gotta be kiddin' me... shoot all speculators, jail all renegades, drown all naysayers - what's the problem, everything's fixed in days
[13:41] {dino} dds sm l .30
[13:54] {RonS} hearing bac merril being blocked from transferring derivatives to a US guaranteed part of the bank...
[13:54] {dino} dds stop -.21
[13:54] {Threei}  Euro vs US Dollar Morgan Stanley analysts recommend shorting of Euro at $1.3750 (timing uncertain)- Also expects GBP will decline against the USD.
[13:54] {Threei}  MS vs GS
[13:54] {RonS} bac saying that it will adversely affect results....bastahds wanting to put more on backs of taxpayers...
[13:55] {Threei}  I don't see it in news
[13:56] {dino} bac is a mess
[13:56] {RonS} from ryan baird...don't know the source...original plan announced weeks ago
[13:57] {patience} .
[13:59] {RonS} 7 SEC employees disciplined on failure to stop Madoff fraud
[14:00] {RonS} ...heard they were threatened w/ sanctions...
[14:00] {RonS} or maybe whipped w/ wet noodles...
[14:01] {RonS} they ought to be in jail w/ bernie
[14:03] {dino} you can have all the regulations you want, but if they don't enforce them, they mean nothing
[14:03] {dino} that imo, is what happened in '08, we don't need more, just need enforcement of the old ones
[14:13] {cipher} dds l .68
[14:15] {RonS} dds l .60
[14:19] {RonS} out dds scratch
[14:20] {dino} brli l .88
[14:21] {RonS} unleashed it for ya cipher
[14:21] {cipher} thx ron
[14:31] {RonS} Abramoff Claims Congress Trades on Inside Information
[14:31] {RonS} ...this is no claim it is fact...they have exempted themselves fro prosecution to do this long ago
[14:32] {dino} they do, they are not subject to that law
[14:32] {dino} and ironically they suck at it
[14:37] {Threei}  rofl
[14:37] {Threei}  so, let me get this straight
[14:37] {Threei}  if they discuss something that is going to impact materially certain company
[14:38] {Threei}  they can legally buy the shares in advance, then make a decision in favor of it?
[14:38] {RonS} or vice versa...yes and it happens all of the time why do you think so many of them become millionaires in office
[14:38] {dino} yes
[14:39] {Threei}  what a racket
[14:39] {dino} yes again
[14:39] {RonS} good to be the king...
[14:39] {dino} they are above the law
[14:52] {dino} out brli +.12
[14:55] {dino} tsla?
[14:57] {dino} dds, hate to see them miss earnings
[15:00] {dino} we rolling over
[15:00] {Threei}  looks like'
[15:01] {Threei}  looking for TZA entry
[15:01] {dino} thinking fcx s w/stop at .01, thoghts vad?
[15:02] {Threei}  looks right
[15:02] {Threei}  need SPY to lose .50 to work
[15:03] {Threei} Long Setup:  TZA  .25
[15:03] {Threei}  if stays above .15
[15:08] {Threei}  partialing out any, dino?
[15:08] {dino} bstop to b/e
[15:09] {RonS} took .20 to .34 thanks 3i
[15:09] {Threei}  1:1
[15:09] {dino} gj
[15:09] {Threei}  half out, stop to .24
[15:09] {Threei}  Ron :)
[15:12] {Threei}  scalpers win
[15:14] {cipher} dds trying
[15:17] {dino} cov +.05
[15:17] {RonS} endless supply of trapped longs...and hisotry of going down for days after these kind
[15:20] {RonS} qotd:  $DDS Market Mullet
[15:28] {dino} zoll spike
[15:30] {RonS} North Carolina Medicaid Issues Favorable Policy on ZOLL LifeVest Wearable Defibrillator
[15:30] {RonS} never knew nc was so influential...
[15:43] {Threei}  EU) IMF's Zhu: Europe must come to its own solution before accepting outside assistance; IMF has plenty of resources at the moment-
[15:43] {Threei}  Happy to see China is willing to help Europe during the crisis; China has made it clear that it will move towards a more flexible currency regime
[15:43] {Threei}  - IMF's Blanchard: Would be beneficial if European banks maintained higher capital ratios.
[15:47] {Threei}  so, what's our consensus at the moment?
[15:48] {Threei}  will thye be able to start printing, or EU breaks up?
[15:48] {dino} be more beneficial to banks if the euro banks did not buy euro debt
[15:48] {dino} nothing like 50% hits
[15:48] {Threei}  but who then?
[15:49] {Threei}  if no one buys it, countires go under
[15:49] {dino} lol
[15:49] {Threei}  they ran out of funding
[15:49] {Threei}  amazing...
[15:49] {Threei}  such an obvious hole, and they kept digging for years
[15:49] {dino} i understand 3i, but those bankers made mistakes buying it
[15:50] {Threei}  even though many warned that it wasn't going to end well
[15:50] {dino} "just say no"
[15:50] {Threei}  just friking let them fail
[15:50] {Threei}  for once
[15:50] {Threei}  endure the pain
[15:50] {Threei}  it will be worth it
[15:54] {dino} so do we fill the open gaps on monday?
[15:54] {Threei}  well, tell me what transoires over the weekend first... :0
[15:54] {Threei}  we are saved or we are breaking up
[15:55] {patience} i say titanic
[15:55] {dino} gut says down monday to fill. no positions, just a hunch
[15:55] {Threei}  overall? or over the weekend?
[15:55] {patience} overall
[15:55] {Threei}  me too
[15:55] {patience} but i am a pessimist right now
[15:55] {Threei}  am not
[15:55] {patience} actually will be for a bit
[15:55] {Threei}  it's a good thing
[15:55] {dino} muddle through until jan, then down hard
[15:56] {Threei}  non-viable structures should fail
[15:56] {dino} agreed
[15:56] {Threei}  it clears up the room for viable ones
[15:56] {dino} they are prolonging the pain
[15:56] {patience} ty vad, time to get outside, it's sunny and blue skies
[15:57] {Threei}  yes... going to
[15:57] {Threei}  beautiful weather
[15:57] {Threei}  thank you all
[15:57] {Threei}  have a great weekend
[15:57] {Threei}  see you on Monday
[15:57] {patience} and the oak leaves are finally falling
[15:57] {patience} but the roses just keep blooming   :)
[16:00] {dino} snowing here
[16:02] {dino} thx all