Friday, December 2, 2011

Dec 02 2011

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Not very active but profitable day, ending nice week with 1 flat and 4 profitable sessions. Also, new course that we have been talking about for a while has its own page now:

Session Time: Fri Dec 02 00:00:00 2011
[08:48] {Threei}  *(US) NOV UNEMPLOYMENT RATE: 8.6% V 9.0%E (lowest since March 2009)
[09:09] {dino} gm all
[09:10] {Threei}  dino :)
[09:12] {Threei}  Workforce declines by 315,000 thus the drop in unemployment rate
[09:12] {Threei}  heh
[09:12] {Threei}  data wizards at work
[09:14] {dino} "spin"
[09:14] {dino} you can tell its an election year
[09:14] {Threei}  one of the best reasons for a gap:
[09:14] {Threei}  European banks move higher, led by French banks, amid reports that the EBA might not make the stress test criteria more strict
[09:18] {Threei}  totally
[09:18] {Threei}  just wait till republican nominee emerges... that's when silly season starts in full glory
[09:19] {ese} concerts today.......phewwwwww!!!!!1
[09:19] {Threei}  hey ese
[09:20] {Threei}  missed good day yesterday...
[09:20] {ese} howdy vad
[09:20] {ese} how so
[09:20] {Threei}  one of the cases where both I and dino kicked a$$
[09:20] {ese} thats cool to hear.......congrats
[09:22] {swill} morning
[09:22] {Threei}  I have a page for the upcoming course up dfor your sneak preview
[09:22] {Threei}  swill :)
[09:22] {Threei}  will show it when market calms down
[09:23] {Threei}  suggestions on better wordings, misspells and bad grammars are appreciated
[09:24] {Threei}  market slides ever from job report
[09:24] {Threei}  as glotoficus as it looks
[09:24] {Threei}  glorificus
[09:25] {Threei}  RIMM on radar fopr short
[09:26] {Threei}  the rest is usual suspects
[09:28] {dino} big filling gap
[09:30] {Threei} Short Setup: SLW  .40 break
[09:30] {Threei}  if stays under .50
[09:31] {Threei} Long Setup:  FCX  .20 break
[09:31] {Threei}  half lot
[09:31] {Threei}  if stays above .10
[09:31] {Threei}  SLW 1:1
[09:32] {Threei}  if you were lucky to get it
[09:32] {Threei}  FCX 1:1
[09:32] {Threei}  SLW 1:2
[09:33] {Threei}  FCX was strange play, against the market
[09:35] {Threei} Short Setup: SLV  .30 break
[09:36] {Threei}  if stays under .40
[09:38] {pragmatic} not in short list for me
[09:38] {dino} nor i
[09:39] {Threei} Short Setup: RIMM  .30 break
[09:39] {Threei}  half lot
[09:39] {Threei}  SLV 1:1 who could short it
[09:39] {Threei}  RIMM{ if stays under .\45
[09:41] {Threei}  LVS 1:2
[09:41] {Threei}  die RIMM
[09:42] {Threei}  {RIMM} yes sir. As you say sir.
[09:42] {Threei}  1:1
[09:42] {Threei}  that's 4 for 4. You know my next question, right?
[09:42] {pragmatic} home ?
[09:42] {dino} answer no
[09:42] {Threei}  and I know your answer...
[09:42] {Threei}  lol
[09:44] {thomcbell} scalpers win
[09:44] {Threei}  on what?
[09:44] {Threei}  not on RIMM... 1:2
[09:45] {pragmatic} guess, just in general
[09:45] {dino} cov rimm .98, +.31 ty vad
[09:45] {Threei}  welcome
[09:46] {thomcbell} si
[09:48] {Threei} Long Setup:  LVS  .10 break
[09:48] {Threei}  half lot
[09:49] {Threei}  if stays above 47
[09:49] {Threei}  stop is tight enough for full lot but this one has wierd spasm sometimes
[09:49] {dino} 07 red
[09:49] {Threei}  don't want to get caught in one of thoses
[09:51] {Threei}  no go
[09:52] {dino} uvv?
[09:52] {dino} gap fill
[09:53] {Threei}  I don't see news
[09:53] {Threei}  Nov 23 last
[09:53] {Threei}  filed mixed shelf
[09:53] {dino} nothing here either, just gap fill
[09:54] {Threei}  ugh
[09:54] {Threei}  RIMM had more in it
[09:54] {Threei}  thought of another short but decided not to anger trading gods
[09:55] {dino} uvv sm l .35
[10:01] {Threei} Long Setup:  SLW  .15 break
[10:02] {Threei}  if stays above .05
[10:02] {Threei}  target about 1:2
[10:03] {Threei}  hmmm... doesn't follow SPY
[10:03] {Threei}  not delighted
[10:03] {Threei}  no go
[10:04] {dino}  stop
[10:05] {dino} big lod
[10:11] {cipher} +.29 BIG thx dino
[10:11] {dino} gj
[10:11] {Threei}  nice
[10:12] {dino} wabc sm l .09
[10:20] {thomcbell} KLAC - Vad - u mock the saviour of western civilizaation
[10:20] {dino} out wabc ave .83, +.74
[10:21] {cipher} wtg
[10:21] {Threei}  48 break...
[10:21] {Threei}  could be
[10:21] {dino} ty
[10:21] {Threei}  nice one dino
[10:22] {dino} thx
[10:25] {dino} idcc sm l .89
[10:26] {dino} vhc running
[10:26] {dino} wabc drop again
[10:30] {dino} idcc to flat
[10:31] {dino} to .99
[10:33] {dino} uvv to flat, stuck
[10:34] {Threei} Short Setup: SLW  .85
[10:39] {dino} major power outage
[10:40] {Threei}  1:1
[10:40] {dino} idcc to .18
[10:41] {dino} to .23
[10:41] {dino} out uvv -.03
[10:42] {dino} out idcc .25, +.36
[10:44] {Threei}  out SLW in full
[10:44] {Threei}  1:3
[10:45] {Threei}  anyone is breathing?
[10:45] {Threei}  or I can sfely go to the weekend
[10:46] {dino} can't borrow it today, lvs, slv, slw
[10:46] {pragmatic} how about X ?
[10:47] {Threei}  ?
[10:47] {pragmatic} these four not in short for me today
[10:47] {pragmatic} talking to dino
[10:47] {dino} x no go
[10:49] {dino} uvv, big close to lod
[10:58] {cipher} what's uw?
[10:59] {dino}  u v v
[10:59] {cipher} oh
[11:00] {cipher} gotcha
[11:00] {dino} ;)
[11:00] {dino} 41.80s month ago supp
[11:01] {dino} sfly, zumz
[11:04] {thomcbell} some entry on slw Vad
[11:05] {Threei}  ?
[11:05] {dino} uvv sm l .25
[11:07] {Threei}  I see no news for this selloff
[11:07] {dino} stop -.20
[11:07] {dino} nothing here
[11:09] {dino} rinsed
[11:11] {thomcbell} the 10 year yield on Italian bonds got Below 6.50- a huge pivot     and quickly recovered back above and is now trading @ 6.61     - this seems to be what the equity market is watching
[11:11] {Threei}  to me, it's only a matter of time till they go back above 7
[11:11] {dino} fxe lod too
[11:11] {Threei}  unless central banks buy them themselves
[11:14] {dino} uvv db?
[11:14] {Threei}  hmm
[11:14] {Threei}  nah
[11:14] {Threei}  not liking it
[11:15] {Threei}  breakdown is very possible
[11:18] {dino} sm l .15
[11:19] {dino} wprt spike
[11:26] {Threei}  euro losy 60% of gain after swap rates announcement
[11:26] {Threei}  not exzactly vote of confidence
[11:26] {Threei}  lost
[11:28] {Threei}  one possible reason for market reversal:
[11:28] {Threei}
[11:32] {Threei}  - Reminder: The three major ratings agencies last downgraded Spain in mid October
[11:36] {Threei}  ok guys
[11:36] {Threei}  sneak review
[11:37] {Threei}  preview
[11:37] {Threei}
[11:38] {Threei}  gimmie feedback
[11:39] {Threei}  (US) President Obama: Congress should not leave for the holidays until action is taken on unemployment benefits and payroll tax cut
[11:39] {Threei}  hmm
[11:39] {Threei}  I disagree
[11:40] {Threei}  congress shoudl leave for the holidays, never to return
[11:40] {Threei}  holidays forever
[11:40] {Threei}  maybe we stand a chance then
[11:41] {dino} uvv to .60
[11:42] {dino} out +.45
[11:42] {Threei}  wtg
[11:42] {Threei}  tough trade
[11:42] {Threei}  for a minute looked like was going to be killed
[11:42] {dino} yeah, almost stopped it
[11:42] {Threei}  wow, l,ook at this beauty:
[11:42] {Threei}  *DJ IMF Says Could Raise Funds From European Countries, Central Banks
[11:42] {Threei}  rofl
[11:43] {Threei}  IMF raises money from european countires to lend it to european countries
[11:43] {Threei}  now I get it
[11:43] {dino} you know, this rally is based on a solution, which i am failing to see
[11:45] {Threei}  for those who don't read facebook, here is what I posted two days ago:
[11:45] {Threei}  as impressive as this manic rally is, it's still an action of an addict who just got another fix. Nothing is solved - this is not a crisis of liquidity, it's a crisis of indebtedness and (potential) insolvency, with lack of liquidity being just a consequence and a symptom. Injections or financial trickery with swap rates can buy time but don't do anything to solve the underlying problem.
[11:45] {Threei}  Sure, markets hop in joy seeing new money coming in and facing no immediate collapse. As usual, trade what you see and not what you think - but do keep in mind that crisis resolution got merely postponed.
[11:45] {Threei}  today:
[11:45] {Threei}  Steen Jakobsen, Saxo Bank: The market loves cheap liquidity and has reacted positively to yesterday�s coordinated move on USD swap lines, but this debt crisis is a problem of solvency � not one of liquidity/printing money, which makes the intervention a de facto exercise of extend-and-pretend, version 5.0.
[11:46] {Threei}  that about sums it up
[11:50] {Threei}  ok, this was uncalled for:
[11:50] {Threei}  (US) Former St Louis Fed's Poole: US is only a few years behind Greece
[11:50] {Threei}  who asked him to tell the truth?
[11:50] {dino} well think about it, tarp hit in sept '08, we bounced then dropped historically into 09
[11:50] {Threei}  (US) France Pres Sarkozy scheduled to meet with US Treasury Sec Geithner on Dec 7; two days before the EU summit
[11:50] {Threei}  yup
[11:51] {Threei}  ssme is going to happen here
[11:51] {Threei}  possibly worse
[11:51] {dino} gut call, yes
[11:51] {Threei}  and, as unpleasant as it sounds, it's a good thing
[11:51] {Threei}  excess must be flushed out of the system
[11:51] {Threei}  otherwise we can never start recovery
[11:52] {Threei}  real one
[11:52] {Threei}  not financed by trickery
[11:52] {dino} should have taken the pain last year
[11:52] {dino} wow uvv
[11:52] {cipher} l ibm .66
[11:54] {cipher} out .86 +.20
[11:55] {dino} gj
[11:59] {Threei}  ron is slacking today
[11:59] {dino} indeed
[12:09] {Threei}  ok, any comments on the webapge?
[12:16] {dino}  reads well vad
[12:17] {Threei}  ty
[12:23] {thomcbell} it sure does Vad
[12:23] {Threei}  cool
[12:23] {Threei}  will index it over the weekend then
[12:26] {jakob} I like the intro Vad
[12:26] {Threei}  ty
[12:27] {Threei}  by the look of it, two weeks to completion should be doable
[12:40] {patience} good morning
[12:40] {Threei}  morning patience
[12:44] {dino} sm l big .06
[12:48] {dino} wabc sm l .90
[12:48] {Threei}  (EU) ECB's Stark: More sovereign nations are encountering financing issues; need urgent solutions; solutions lay with Governments
[12:48] {Threei}  - Notes that low interest rates may discourage bank deleveraging
[12:48] {Threei}  - Economic outlook has worsened given uncertainty and downside risks
[12:53] {dino} big to flat
[12:56] {dino} out big .20, +.14
[12:56] {Threei}  nice sclaping
[12:56] {dino} ty
[12:56] {dino} look uvv coming down again
[13:01] {dino} sm l .00
[13:14] {dino}  wabc stop -.19
[13:30] {dino}  stop uvv .70, -.30
[13:38] {dino} uvv sm l .64
[13:42] {dino} zmh drop
[13:47] {dino} zmh sm l .10
[14:01] {Threei}  Herman Cain campaign says they will be making a "major announcement" in Georgia tomorrow
[14:01] {Threei}  lemme guess...
[14:02] {Threei}  9-9-9 is 36-24-36 now?
[14:03] {dino} lol
[14:03] {Threei}  finally
[14:06] {dino} going to fill pen gaps
[14:06] {dino} open
[14:16] {Threei} Short Setup: FCX  .60 break
[14:17] {Threei}  tight stop .66
[14:17] {Threei}  target about .45
[14:23] {dino} uvv to .27
[14:23] {dino} out +.63
[14:31] {dino} zmh gap fill
[14:32] {dino} re-load sm l .15
[14:36] {Threei} Short Setup: RIMM  .90 break
[14:36] {Threei}  as easy as morning was, this swamp is not my environment
[14:37] {Threei}  but eod should lead to selloff
[14:44] {dino} zmh to .69
[14:45] {dino} to .75
[14:46] {dino} to .79
[14:47] {dino} to .85
[14:48] {dino} out .87, +.72
[14:49] {dino} tough crowd
[14:49] {Threei}  heh
[14:50] {Threei}  tell me about it
[14:50] {dino} :D
[14:57] {Threei}  RIMM close enough to 1:1
[14:57] {Threei}  out
[15:04] {dino} wow zmh drop again
[15:06] {dino} seems a lot of stocks are working to fill tues close gaps
[15:06] {dino} volc on its way
[15:16] {dino} look zmh range
[15:16] {dino} 48.20-.90 and back
[15:22] {dino} ok, calling it a week, thx all for ideas, good time
[15:26] {Threei}  more selling to come it feels
[15:29] {Threei}  can't decide, to look for one last tarde or pack it for the weekend
[15:29] {Threei}  swill, have you seen the course page?
[15:30] {Threei}  I think you weren't in the room when I posted a link
[15:30] {swill} no.  I missed it.  darn
[15:30] {Threei}  nop worry
[15:30] {Threei}
[15:30] {swill} I'll have a look
[15:34] {swill} I have told my wife this is my christmas present
[15:35] {Threei}  you remember that as a room member you have it at 50%, right?
[15:35] {swill} grateful I am
[15:48] {patience} happy birthday for you tomorrow vad, have a wonderful day celebrating this milestone in life   :)
[15:48] {Threei}  ty
[15:48] {Threei}  Ok guys, thank you all
[15:48] {Threei}  have a good weekend
[15:48] {Threei}  see you on Monday
[15:49] {swill} happy birthday.  see you