Tuesday, November 22, 2011

Nov 22 2011

(Participation in the room in real time requires membership)

Very nice day with 7 wins out of 9 calls. Nothing to complain about, especially on a short week.

Session Time: Tue Nov 22 00:00:01 2011
[08:57] {nemo} hello...ow
[08:57] {Threei}  morning nemo
[08:57] {nemo} it hurts to type
[08:57] {Threei}  ?
[08:58] {nemo} I'm visiting relatives in NJ...the clicking of the keyboard keys is pretty loud
[08:58] {Threei}  oh... lol
[08:58] {nemo} check out how the levels played out yesterday?
[08:59] {Threei}  got too suckered in the action... active day
[09:15] {swill} Good morning
[09:17] {Threei}  swill :)
[09:21] {_nocki} Good morning
[09:21] {Threei}  nocki :)
[09:21] {jakob} good morning
[09:21] {Threei}  jakob :)
[09:24] {Threei}  gap down is moderate
[09:25] {Threei}  and decline overall is failry severe over last couple weeks
[09:26] {Threei}  while daily is broken and barring some radically good news we are in bear market, it's probably time for technical bounce
[09:29] {Threei}  SLW is green
[09:29] {Threei}  would probably be my first candidate for long
[09:29] {Threei}  LVS too, tends to do very well when market is not in panic mode
[09:30] {Threei}  SLW pullback in .80 area will be of interest for entry
[09:32] {Threei} Long Setup:  SLW  .90 break if stays above .80
[09:33] {Threei} Long Setup:  FCX  .80 break half lot
[09:33] {Threei}  if stays above .70
[09:34] {Threei}  FCX 1:1
[09:36] {Threei}  SLW 1:1
[09:37] {Threei}  SLW 1:2, out in full
[09:37] {dino} out slw .11, +.20 ty vad
[09:37] {Threei}  :)
[09:38] {dino} out fcx .93, +.12 ty vad
[09:38] {Threei}  welcome, cool start to the day
[09:38] {Threei}  canceling my sell FCX
[09:39] {Threei}  should do better if breaks
[09:39] {thomcbell} aapl strong right out of the gate today
[09:39] {thomcbell} qcom straight up
[09:40] {Threei}  there... out FCX in full
[09:40] {dino} gj
[09:40] {Threei}  +.30
[09:40] {Threei}  ty
[09:40] {Threei}  (IT) Renewed chatter that ECB is again buying peripheral bonds
[09:40] {Threei}  good luck with that
[09:40] {Threei}  some want to have bigger shovel while digging their grave... shrug
[09:41] {Threei} Short Setup: TYC  .80 break half lot
[09:42] {Threei}  if stays under .90
[09:42] {Threei}  don't chase
[09:42] {dino} whr sm l .50
[09:42] {Threei}  if you could get .79 - .78, fine
[09:42] {Threei}  lower, no
[09:44] {Threei}  if going for second chance entry, stop is .86 this time
[09:46] {Threei}  LVS, what a bounce
[09:46] {dino} tyc stop flat
[09:47] {Threei} Short Setup: LVS  44 break
[09:47] {Threei}  half lot
[09:47] {Threei}  invalidated for now
[09:49] {dino} dci sm l .85
[09:53] {Threei} Short Setup: LVS  .15 break
[09:53] {Threei}  if stays under .25
[09:54] {Threei}  invalidated
[09:56] {Threei}  TYC 1:1
[09:58] {dino} whr stop -.27
[10:00] {Threei}  (US) PIMCO's El-Erian: If the Fed undertakes QE3, there will be some benefits but also collateral damage to the economy - interview
[10:00] {Threei}  - QE3 would further undermine the political reputation of the Fed, damage the dollar.
[10:00] {Threei}  - The Fed has taken pressure to act off of the rest of the US political class.
[10:00] {Threei}  you go boy
[10:00] {Threei}  tell them
[10:03] {Threei} Short Setup: LVS  .20 break
[10:03] {Threei}  stop above .30
[10:03] {Threei}  target 1:3
[10:03] {Threei}  did I finally get it?
[10:04] {nemo} .90 level vwap
[10:04] {Threei}  exactly 1:3
[10:04] {nemo} .80 level pivot
[10:04] {nemo} tna worth a try here against spy
[10:04] {Threei}  yeah, I got it... 1:1
[10:05] {Threei}  partial, stop to .21
[10:05] {Threei}  scalpers be happy
[10:05] {Threei}  TYC 1:2 finally, out in full
[10:06] {nemo} fmcn pivot at .87, worth a look
[10:06] {Threei}  scariest thing ever...
[10:06] {dino} yeah
[10:06] {Threei}  you should see its volatility yesterday
[10:06] {Threei}  dollars in seconds
[10:07] {Threei}  even paper trading it was very risky {G}
[10:07] {Threei}  LVS 1:2
[10:08] {Threei}  second partial, stop to .11
[10:11] {Threei}  1:3, target hit
[10:12] {Threei}  that 4 out of 4... can I go home?
[10:12] {Threei}  don't rush to answer all at once
[10:13] {swill} wtg
[10:13] {dino} gj
[10:13] {Threei}  ty
[10:13] {Threei}  FMCN... I'll stay away from this thing
[10:16] {dino} dds sm l .53
[10:16] {Threei} Long Setup:  LVS  44 break
[10:16] {Threei}  if stays above .90
[10:18] {Threei}  still valid
[10:19] {Threei}  1:1
[10:20] {Threei}  stop to .95, whether you took some off the table or not
[10:20] {Threei}  to .99 now
[10:24] {Threei}  1:2
[10:25] {Threei}  can't help but smile... LVS setup was the one on which I spent last two evening writing a chapter
[10:27] {Threei}  1:3, out
[10:28] {Threei}  if you had only half eye open, this hour paid for couple months of troom membership at least
[10:29] {Threei}  (IT) Italy 5-year Gov't bond yield moving higher by towards 6.90%, up over 30bps in session
[10:47] {Threei}  idiots' time
[10:47] {Threei}  (EU) Greece Fin Min Venizelos: ECB focusing on price stability has become a resulted in a deflation threat for the Euro zone
[10:52] {Threei}  Ron... missed 5 for 5 morning
[10:53] {RonS} ...trading platform was frozen due to corrupted files...
[10:53] {RonS} :(
[10:53] {Threei}  grrr
[10:54] {Threei}  who corrupted them? why did you let Corzine in your home?
[10:57] {dino}  s/p app yesterday lod
[10:57] {dino} next gaps down dji 11103, s/p 1155
[11:03] {Threei}  Egyptian politician: Ruling military accepts resignation of government.
[11:03] {Threei}  "Ruling military..." someone remind me, Egypt got rid of dictator, right? right?
[11:04] {dino} military took over
[11:04] {Threei}  but Egypt got rid of dictator
[11:04] {Threei}  got it
[11:04] {dino} governments are falling as fast as euro bonds
[11:04] {Threei}  I may be slow... but eventually I do get it :)
[11:05] {Threei}  in all these goverment changes the most interesting aspect is:
[11:05] {Threei}  who or what comes to rule
[11:05] {Threei}  so far, trend in Europe is:
[11:06] {Threei}  elected governing bodies or persons get reppaced by representatives of thr world financial elite
[11:06] {Threei}  which is quite curious turn of events
[11:07] {dino} ironic
[11:07] {Threei}  very
[11:09] {RonS} cpb in the soup
[11:15] {Threei} Short Setup: FCX  .40 break
[11:16] {Threei}  if stays under .50
[11:18] {Threei} Short Setup: FCX  .50 break
[11:18] {Threei}  if stays under .60
[11:19] {Threei}  not a scalp, aggressive entry for .40 break
[11:20] {Threei}  1:1
[11:21] {thomcbell} lvs kind of interesting too here
[11:21] {_nocki} .
[11:42] {patience} .
[11:42] {Threei}  your points being...?
[11:43] {_nocki} we are still here
[11:43] {patience} :)
[11:43] {Threei}  got it
[11:44] {Threei}  good point then
[11:44] {Threei}  'cause I sometimes wonder
[11:46] {dino} sohu sm l .15
[11:47] {dino} lng l .65
[11:47] {Threei} Short Setup: SLW  .40 break
[11:47] {Threei}  if stays under .50
[11:50] {dino} out sohu .45, +.30
[11:50] {Threei}  nice
[11:50] {dino} ty
[11:52] {RonS} lol...the O taught them well:  Iraq to Impose Sanctions on Exxon Mobile for Doing Business With the Kurdish Region
[11:53] {Threei}  lol
[11:53] {dino} chk hl l .60
[11:54] {Threei}  next thing we know is Exxon imposing sanctions on one of their departments
[11:55] {Threei}  no need to say, SLW invalidated
[11:55] {dino} out lng ..77, +.12
[11:57] {dino} idcc sm l .80
[11:57] {dino} stop is .64
[11:58] {dino} chk stop is .44
[11:58] {dino} brb
[12:00] {cipher} l ibm .17
[12:00] {RonS} ...never seem to find that brb stock...
[12:00] {RonS} :)
[12:01] {RonS} lol...and what happens after 6 months?
[12:02] {RonS} qotd...:  Okay, Europe's closed, put on as much risk as you possibly can
[12:03] {Threei}  - New credit line to help break contagion
[12:03] {Threei}  - Govts can use 6 month financing for short term balance of payments requirements
[12:03] {Threei}  - Liquidity line may by up to 500% of member quota
[12:03] {cipher} out ibm .79 +.62
[12:03] {RonS} gj
[12:04] {dino} gj
[12:06] {cipher} thx got lucky
[12:09] {RonS} wow...must be the italian O...Italy's new PM insists he can fix country
[12:10] {dino} lol
[12:10] {dino} let me guess, he will appoint a bunch of professors
[12:13] {RonS} lol...classic...Funny, that IMF press release was datelined from the North Pole, jingle jingle
[12:14] {RonS} rotflol...In France right now they're spraying champagne all over each other like the '86 Mets...
[12:14] {Threei}  lol
[12:15] {dino} seriously?
[12:15] {RonS} pretty sure it's a joke...
[12:15] {dino} i guess because they keep their jobs for 6 more months
[12:45] {dino} idcc stop
[13:05] {Threei}  *(US) TREASURY'S $35B 5-YEAR NOTE AUCTION DRAWS: 0.937% (record low yield); BID-TO-COVER RATIO: 3.15 V 2.90 PRIOR AND 2.83 AVG OVER THE LAST 10 AUCTIONS- Indirect bidders take 45.34% of competitive bids with 59.9% allotted at the high. - Direct bidders take 9.56%, primary dealers 45.1%. - Median 0.90%, low 0.819%
[13:05] {Threei}  record low yiled - on the back of EU worries I take it
[13:16] {Threei}  El-Erian: U.S. Economic Conditions �Terrifying�
[13:17] {dino} heck of a rinse on idcc, takes me out and runs a buck
[13:17] {Threei}  http://www.bloomberg.com/news/2011-11-22/pimco-s-el-erian-says-u-s-economic-situation-terrifying-as-growth-slows.html
[13:23] {RonS} ya got an email today w/ arabl chatty cathy doll for christmas...
[13:24] {RonS} arab..."noone knows what she says 'cause they don't have the guts to pull the rip cord..."
[13:24] {dino} lol
[13:33] {RonS} All I want for Christmas is a Corzine "Perp-Walk"
[13:36] {RonS} value added...FOMC Minutes: Risks Include Spillover If European Crisis Worsens
[13:36] {Threei}  oh wow
[13:47] {_nocki} :
[13:49] {Threei}  that's double point
[13:55] {patience} in tza
[13:55] {Threei} Short Setup: TRH  .45
[13:56] {Threei}  half lot
[13:56] {Threei}  if stays under .55
[14:10] {_optionman} test
[14:10] {Threei}  passed
[14:15] {Threei}  missed fantastic day optionman
[14:15] {_optionman} day late, dollar short
[14:20] {Threei}  ASUS Transformer Prime is available for preorders
[14:21] {Threei}  who wants to give me a christmas gift, that's your hint {G}
[14:24] {RonS} lol...Wonder if those ETF engineers are thinking about creating an inverse ETF for the 2011 IPO's? $P $Z $GRPN $LNKD
[14:25] {Threei}  GRPN especially...
[14:25] {Threei}  IMO, that's a disaster coming
[14:30] {Threei} Short Setup: FCX  .75 break
[14:30] {Threei}  if stays under .85
[14:35] {Threei}  1:1
[14:35] {Threei}  that's 7 wins out of 7 resolved calls
[14:35] {Threei}  can I go home finally?
[14:36] {cipher} gj vad
[14:36] {Threei}  ty sir
[14:36] {nemo} ahhhhh...belt up Vad!!!
[14:38] {Threei}  just tried to pat myself on the back... guess what - shoulder is still dislocated from the past performance...
[14:39] {dino} cov fcx +.08, thx
[14:40] {Threei}  :)
[14:47] {Threei}  here comes first stop
[14:47] {Threei}  out TRH
[14:47] {Threei}  11 cents on half lot
[14:47] {Threei}  that was a sacrifice to tarding gods, so they are not too irritated
[14:55] {Threei} Short Setup: SLW  .20 break
[15:00] {Threei}  no go
[15:00] {Threei}  told ya, let's go home
[15:07] {swill} need to go driving.  thanks for fun day Mr. Vad
[15:09] {Threei}  :)
[15:10] {Threei}  SLW was a rinse it seems
[15:15] {RonS} ...something for nemo?  Nokia $NOK down -7% today, even though their new phone is killer! Someone shoot me a text! http://t.co/r7GNSvqb
[15:15] {Threei}  this is one weird collection of loosely related, totally unrelated and contradictive points:
[15:15] {Threei}  (GE) Germany Fin Min Schaeuble: the Dec 9th EU summit will provide a clear signal to markets that have lost confidence in the Euro zone
[15:15] {Threei}  - reiterates the ECB cannot be used to finance govts.
[15:15] {Threei}  - Feels EU can deal with the crisis using existing tools, yet investor trust is lacking.
[15:15] {Threei}  - Debt levels in the US will cause concern.
[15:18] {Threei}  (US) Fed's Kocherlakota:- Sees no link between inflation and the size and makeup of the Fed balance sheet.
[15:18] {Threei}  seriously?
[15:19] {Threei}  (US) White House Advisor Sperling: Disappointed with growth levels
[15:19] {Threei}  Growth Levels: so sorry...
[15:21] {Threei}  jokes I come across today are especially mean...
[15:21] {Threei}  Give a man a match, and he'll be warm for a minute, but set him on fire, and he'll be warm for the rest of his life
[15:22] {RonS} ...ya gotta luv the gallows humor of market participants:  Now might be a good time for $BAC to try that 1 for 10 reverse split, ya know - before Bruce Berkowitz eats a bottle of pills
[15:22] {Threei}  yikes
[15:22] {Threei}  lol
[15:25] {_optionman} good night all, see you tomorrow
[15:25] {Threei}  take care optionman
[15:26] {Threei}  hmmm
[15:26] {Threei}  HTC and Facebook partner to make a smartphone, code name "Buffy"
[15:27] {Threei}  who are the vampires?
[15:28] {RonS} lol:  I predict a Fifth Amendment-fest. RT @Street_Insider: House panel calls Jon Corzine to testify at MF Global hearing -Bloomberg $$
[15:29] {Threei}  heh
[15:30] {Threei}  Corzine: Obama made me do it
[15:31] {RonS} Obama:  Bush made him do it.
[15:32] {RonS} see everyone manana...have an appt...
[15:32] {Threei}  take care ron
[15:32] {Threei}  that was a good one
[15:43] {Threei}  http://www.economist.com/blogs/dailychart/2011/11/euro-zone-economies?fsrc=rss
[15:52] {Threei}  OK guys,. let's call it a day
[15:52] {Threei}  thank you all, have a good evening
[15:52] {Threei}  see you tomorrow
[15:56] {dino} gj and gn