Monday, December 5, 2011

Dec 05 2011

(Participation in the room in real time requires membership. Free trial is available)

Tough day with no pronounced direction and sudden news-driven spikes. We started with a few stops, then clawed back some with a few careful trades and finally evened the day out with last SLW short. Breakeven, all in all. 

Session Time: Mon Dec 05 00:00:00 2011
[09:03] {dino} gm
[09:03] {Threei}  morning dino
[09:03] {Threei}  I knew it was too good to last... sooner or later one has to face reality and wake up...
[09:04] {dino} indeed
[09:04] {ese} morning
[09:04] {Threei}  ese :)
[09:04] {ese} wake up from what
[09:04] {Threei}  from weekend bliss
[09:04] {ese} indeed
[09:05] {Threei}  what a weather for decemebr
[09:06] {ese} fabulous weather
[09:07] {ese} differenis tiet types of light for photography......i really enjoy this time of year
[09:07] {ese} different
[09:08] {ese} although...smokin busy on my end 5 shows to do this week
[09:13] {dino} crazy weeks, drop 9% then run 7%
[09:13] {Threei}  and with EU resolution coming this week, we may be in for more of the same
[09:16] {swill} :)morning
[09:18] {ese} swill
[09:21] {Threei}  swill :)
[09:25] {Threei}  (EU) France President Sarkozy: Complete agreement with Germany has been reached, to disclose details in letter to EU President Van Rompouy
[09:25] {Threei}  that's market spike last couple bars
[09:26] {RonS} gm...eur spiking
[09:26] {Threei}  ron :)
[09:26] {Threei}  see above
[09:26] {Threei}  EU treaty for all 27 member sates should be revised
[09:26] {Threei}  ummm... that's what they agree on?
[09:27] {Threei}  - Would prefer that treaty changes take place at the level of the entire 27 members of the European Union, however treaty change could be limited to the 17 euro zone states. - Want automatic sanctions on deficits over 3%, to provide a way for a qualified majority to block automatic sanctions - Agreed on private sector contributions to future bailouts
[09:28] {Threei}  bunch of bs
[09:29] {Threei}  feels to me details will disappoint the market
[09:30] {Threei} Short Setup: FCX  .1 break half lot
[09:31] {Threei}  valid
[09:32] {Threei}  stop above .25
[09:32] {ese} L TLEO .63
[09:32] {ese} going like stink
[09:33] {ese} out 1/2 .84 +.21
[09:33] {Threei}  no qworky
[09:33] {RonS} tleo speculation of orcl purchase w/ sap buy of sfsf
[09:34] {Threei} Long Setup:  LVS  .50 break
[09:34] {ese} tks
[09:34] {ese} wow
[09:34] {Threei}  if stays above .35
[09:34] {Threei}  invalidated
[09:35] {ese} out in full .17 +.54
[09:35] {dino} gj
[09:35] {ese} went 400/400 spreads were ridiculous
[09:36] {dino} fcx rinsed
[09:36] {swill} nice one ese
[09:37] {ese} tks
[09:37] {RonS} IL...Discovery Group LLC reported a 5.8% stake in the software manufacturer.
[09:37] {ese} was a yoyo
[09:37] {Threei}  - German Chancellor Merkel: Essential that the summit meetings this week regain European credibility, structural changes are needed in Europe.
[09:37] {Threei}  - Constructive fiscal rules are needed in Europe, via treaty revisions, with binding debt limit rules.
[09:37] {Threei}  - Fiscal discipline cannot be achieved without treaty chages, current treaties do not facilitate hard debt limits. Debt limits must be uniformly defined for the euro zone.
[09:37] {Threei}  - Euro zone members will move ahead with treaty changes alone, if needed.
[09:37] {Threei}  - Greece is and will remain an exceptional case.
[09:37] {Threei}  - Reiterates once again that euro bonds are not a solution for the current crisis.
06[09:39] * pragmatic charts not working
[09:39] {dino} fcx hl s .97
[09:41] {Threei}  FCX rinsed by a few cents
[09:41] {pragmatic} anyone else having problems with charts?
[09:41] {Threei}  yes
[09:41] {pragmatic} ah ok. easy now
[09:41] {ese} oddly enough not here
[09:42] {swill} my charts ok
[09:42] {cipher} charts not working
[09:43] {Threei} Long Setup:  TZA  .30 break
[09:43] {Threei}  if stays above .15
[09:43] {swill} my charts out now
[09:45] {Threei}  server 1 is back up
[09:46] {Threei} Long Setup:  TZA  .20 break
[09:46] {Threei}  ugh, late
[09:46] {swill} jumper
[09:46] {Threei}  maybe comes back
[09:46] {Threei}  for second chance
[09:47] {ese} ADSK would have been a nice bounce play this morning dino
[09:47] {Threei}  ok
[09:47] {Threei}  in .22
[09:47] {Threei}  stop under .10
[09:47] {Threei}  target about .50
[09:48] {dino} 07 red
[09:50] {Threei}  no go
[09:51] {Threei}  hmm
[09:52] {dino} fcx stop
[09:54] {Threei}  so far, net getting rythm
[09:56] {swill} this too will pass
[09:56] {Threei}  no doubt
[09:57] {ese} L MDT .04
[09:59] {Threei}  bad ISM numbers
[09:59] {Threei}  52 v 53.8E
[09:59] {ese} what the heck is that all about
[10:01] {dino} sm s fcx .28
[10:01] {ese} stopped .85
[10:01] {ese} -.19
[10:02] {dino} cov .24 fcx
[10:03] {Threei}  market is badly confused
[10:03] {Threei}  look at today's announcements:
[10:03] {dino} yeah, me too
[10:03] {Threei}  1. treaty change is neded - not something that can be accomplished fast or easy
[10:03] {Threei}  2. austerity measures for the eurozone - guaranteed recession
[10:03] {dino} damn too tight fcx
[10:04] {Threei}  3. no eubonds
[10:04] {Threei}  all the reasons to drop but it's just monday
[10:04] {Threei}  final resolution is Dec 9, Fri
[10:05] {Threei}  so here is plenty of announcements ahead
[10:05] {Threei}  and a lot oh hope for a miracle
[10:06] {Threei}  staying with half lot for now
[10:07] {Threei} Long Setup:  TZA  .10 break
[10:07] {Threei}  if stays above 27
[10:08] {ese} daaaaaaaa MDT
[10:08] {ese} finicky mrkt
[10:08] {Threei}  invalidated
[10:08] {Threei}  changing to 27 break long
[10:08] {Threei}  if stays above .90 of course
[10:09] {Threei}  invalidated
[10:14] {ese} L MDT .09
[10:15] {Threei} Long Setup:  DXY  .20 break half lot
[10:16] {Threei}  pulled back for entry
[10:16] {pragmatic} empty chart for DXY
[10:16] {dino} same
[10:16] {Threei}  crap... DXY
[10:16] {Threei}  mistype
[10:16] {Threei}  sigh
[10:16] {Threei}  OXY is right one
[10:17] {Threei}  never mind
[10:17] {pragmatic} man, you need a new keyboard :)
[10:18] {Threei}  or new set of eyes, O and D looked very close
[10:18] {pragmatic} :)
[10:18] {pragmatic} Is OXY still valid ?
[10:18] {Threei}  no
[10:18] {Threei}  hit 1:1
[10:18] {Threei}  pulled all the way back
[10:19] {ese} stop to break even MDT
[10:19] {Threei} Long Setup:  HUN  .35 break
[10:20] {Threei}  if stays above .30
[10:20] {Threei}  double lot for a scalp
[10:24] {Threei}  disregard HUN, water torture
[10:26] {Threei} Long Setup:  SLW  .75 break
[10:29] {Threei}  target 1:2
[10:30] {Threei}  1:1, half out
[10:31] {ese} nope...stopped MDT +/- .00
[10:33] {dino} slw stop flat
[10:36] {ese} L MDT .02
[10:36] {Threei}  Canada will withdraw from the Kyoto Protocol by the end of next year
[10:37] {RonS} why wait?
[10:37] {Threei}  really
[10:39] {Threei} Long Setup:  TZA  .70 break
[10:39] {Threei}  if stays above .60
[10:39] {Threei}  full lot
[10:41] {Threei}  target 1:2
[10:43] {dino} uvv sm l .50 gappy
[10:51] {Threei}  {Market} I've no idea what to do
[10:51] {Threei}  {Traders} neither do we
[10:51] {RonS} lol...The Macys Thanksgiving Day Parade team is on call for the Trump-Gingrich summit just in case someone's head deflates
[10:52] {Threei}  lol
[10:53] {RonS} tie spike
[10:55] {RonS} from ryan baird:  TIE: Harrold Simmons, who already owns 28 mln shares is rumoured to have agreed with Contran Corp (45 mln share owner) to take TIE private at $20.25 per share cash.
[10:56] {Threei}  wow.. TZA may work this millenia
[11:03] {Threei}  1:1
[11:03] {Threei}  half out
[11:04] {Threei}  I don't think I've ever seen TZA taking this long to move 10 cents
[11:06] {swill} slow mo set up
[11:07] {Threei}  snail speed
[11:08] {Threei}  like poking an amoeba
[11:08] {swill} lol.  I'm afraid I didn't wait
[11:09] {Threei}  not even for 1:1?
[11:09] {swill} I'm too impatient today
[11:10] {swill} need to adjust I guess
[11:11] {Threei}  just don't try to outsmart the system
[11:11] {Threei}  taking scalp instead of poartialing, fine, that's a matter of personal preference
[11:12] {Threei}  but attempt to get rid of stops by getting out as soon as you have any profit, no
[11:12] {Threei}  that will turn around and bite you in you-know-what
[11:13] {swill} thanks
[11:15] {RonS} 3i, any idea nemo return?
[11:15] {Threei}  he is in the process of broker replacement
[11:16] {Threei}  his missive over weekend:
[11:25] {Threei}  marjket retreats but I don't have a feeling of decisive reversal
[11:26] {dino}  stmp drop
[11:27] {RonS} $STMP down 6% on USPS proposed cutbacks.
[11:28] {dino} ty
[11:31] {RonS} ilmn running
[11:32] {thomcbell} takeover spec
[11:32] {thomcbell} SI
[11:32] {Threei}  (EU) ECB's Nowotny: Have seen dollar liquidity operations from last week having an immediate impact
[11:32] {Threei}  - outlook for growth is weak in Europe and in the US. Have seen signs of a bond run in some nations.
[11:32] {Threei}  - Notes time is running out for a debt crisis solution to be put in place.
[11:34] {Threei} Long Setup:  TNA  .15 brwak
[11:35] {Threei}  invalidated
[11:37] {dino} ilmn s .00
[11:38] {dino} cov .62, +.38 ty ron
[11:38] {RonS} np
[11:39] {Threei}  (IA) EU officials said to be reconsidering a possible embargo on Iran oil; feel it may backfire and cause prices to rise - financial press
[11:44] {Threei} Long Setup:  DO  .75 break half lot
[11:45] {Threei}  if stays above .65
[11:45] {dino} hitk beats and drops
[11:59] {dino} hitk sm l trig .00
[11:59] {RonS} hitk sm l .90
[11:59] {dino} lol
[12:00] {dino} ilmn spike
[12:01] {cipher} +.38 ilmn short thx
[12:01] {dino} gj
[12:02] {cipher} l do .51
[12:02] {dino} foreign bank preferreds jumping
[12:05] {Threei}  PAA
[12:05] {Threei}  sloq climb
[12:05] {Threei}  slow
[12:09] {cipher} out do .62 +.11
[12:14] {dino} hate to see hitk miss earnings
[12:14] {Threei}  lol
[12:21] {dino} 38.50 gap area
[12:32] {nemo} So, Friday afternoon I come out of the woods a little early tired from swamp walking and bush whacking
[12:33] {nemo} I pull out of where I was parked
[12:33] {nemo} drive a couple hundred yards down the road
[12:33] {nemo} behind a house in a very residential area are 7 does and a big 10 point buck
[12:33] {nemo} wtf
[12:33] {Threei}  so how manyh humans you had to shoot to get to them?
[12:34] {nemo} yeah
[12:34] {RonS} did he flip you the bird?
[12:34] {nemo} so I get out of my truck and stand in the driveway with my binoculars
[12:34] {nemo} dog next door comes over to challenge the buck
[12:34] {nemo} buck looks at him like "Are you serious?"
[12:35] {nemo} So, I'm standing, and the woman who owns the house pulls into the driveway
[12:35] {nemo} Asks me what I'm doing...I point
[12:35] {nemo} "Wow, I've never seen one with horns before."
[12:35] {dino} lol
[12:35] {nemo} So, I give her a verbal synopsis of deer behavior
[12:35] {Threei}  lol
[12:36] {nemo} The buck starts making a scrape at the back of her yard
[12:36] {nemo} "He's tearing up my grass!"
[12:36] {nemo} So I explain the process
[12:36] {nemo} I start grunting at him
[12:36] {nemo} Not the brightest idea
[12:36] {cipher} ilmn l .31
[12:37] {nemo} He turns around thinking I'm a competitor for his girls
[12:37] {nemo} He drops his head and his shoulders like he's going to charge
[12:37] {RonS} but did she turn around hot for you?
[12:37] {nemo} I look at the lady and say, "You might want to get ready to run into the house."
[12:38] {nemo} I think she was a pinko, and I'm standing there in full camo...I seriously doubt it
[12:38] {RonS} "a pinko"...rotflol
[12:39] {Threei}  ILMN Hearing JP Morgan making cautious comments, sees rumor of deal as unlikely
[12:41] {cipher} out ilmn -.11
[12:41] {Threei} Long Setup:  TNA  .50 break
[12:41] {Threei}  half lot
[12:42] {dino} ilmn sm s .20
[12:44] {Threei}  1:1
[12:45] {dino} hitk sm l .09
[12:49] {cipher} +.25 hitk thx dno
[12:49] {dino} ilmn to flat
[12:49] {cipher} dino
[12:49] {dino} gj
[12:49] {cipher} ilmn looks dead
[12:50] {dino} stop flat
[12:52] {Threei}  1:2, out
[12:56] {dino} ilmn sm s .25
[13:01] {nemo} hey dino, reading an article from a boston sports writer about the patriots secondary:  "They may be improved, but playing against quarterbacks like Tyler Palko, Vince Young and Orlovsky — who kept intact his record of having never quarterbacked an NFL team to victory — revealed nothing about them except this: Their secondary could give up 350 passing yards to Venus de Milo"
[13:02] {dino} lol
[13:02] {nemo} yeah, he's right though, they've been an abomination this year
[13:04] {dino} they just have a great offense, sort of like the colts used to
[13:04] {nemo} yeah, and a lousy defense
[13:04] {cipher} ilmn s .20
[13:04] {nemo} that Gronkowski is a beast
[13:04] {dino} yes
[13:05] {nemo} he's a couple of sandwiches short of a picnic too
[13:08] {dino} bstop to .95 ilmn
[13:08] {cipher} covered ilmn .85 +.35
[13:09] {dino} gj
[13:09] {nemo} ilm topped here at vwap
[13:13] {dino} cov ilmn .71, +.54
[13:13] {cipher} nice
[13:13] {nemo} think it goes to .28 or so
[13:15] {swill} .
[13:23] {Threei}  IMF Board Approves �2.2B Loan Tranche For Greece
[13:26] {Threei}  (EU) EU's Barroso: It is a good signal that Sarkozy and Merkel are willing to adjust the treaty; sees possibility of treaty changes in four months time
[13:27] {Threei}  giess who is coming on TV
[13:27] {Threei}  long time no see
[13:27] {nemo} Demi Moore dissing Ashton Kutcher
[13:27] {RonS} nemo and the buck?
[13:27] {nemo} bunny
[13:28] {Threei}  you guys are so out shape...
[13:28] {nemo} pot calling the kitchen black
[13:28] {nemo} let's see you follow my ass through the woods
[13:29] {Threei}  I'll just wait on the shore
[13:29] {dino} ilmn sm s .48
[13:30] {nemo} ballsy dino
[13:30] {RonS} so cold here that the bunnies come and peak in the sliding glass door...
[13:30] {nemo} sniff sniff
[13:31] {nemo} it's kinda' the store on the game load shotgun shells is a picture of a rabbit...I get a little rattled every time I see it
[13:33] {dino} cov .18, +.30
[13:34] {cipher} wtg
[13:34] {dino} ty
[13:36] {RonS} sheesh peek not peak...must be losing it
[13:36] {Threei}  sorry ron
[13:36] {Threei}  my fault
[13:36] {dino} vad rubbing off on you
[13:36] {Threei}  my spelling rubs off of people
[13:37] {RonS} at least not spelling peeve of mine
[13:41] {nemo} o.k. gonna' go find something to slaughter
[13:42] {Threei}  (EU) S&P warns Germany and other AAA rated members of euro zone will announce today that ratings will be put on ratings watch negative - FT
[13:42] {Threei}  part poopers
[13:43] {Threei}  party too
[13:43] {dino} fcx s .49
[13:43] {Threei}  I gues bulls got too complacent
[13:45] {dino} stop uvv -.11
[13:45] {dino} cov fcx .32, +.17
[13:51] {Threei}  EUR/USD Falls to US session lows below $1.3440
[13:53] {dino} fcx s .10
[13:55] {dino} cov -.13
[14:06] {Threei}  wow
[14:06] {Threei}  day low
[14:12] {dino} hitk gap fill
[14:13] {dino} sm l .80
[14:15] {dino} stop
[14:15] {Threei}  SLW is very weak
[14:23] {Threei}  (DE) Danish Econ Min: Denmark is open to EU treaty changes but only in the context of all 27 EU members
[14:23] {Threei}  uhhu
[14:23] {Threei}  good luck with that treaty chnage
[14:24] {Threei} Short Setup: SLW  .95 break
[14:24] {Threei}  stop above 33
[14:24] {Threei}  target about .80
[14:25] {Threei}  covering half
[14:25] {Threei}  stop to .96
[14:26] {dino} sprd drop
[14:33] {Threei} Long Setup:  TZA  .25 break
[14:33] {Threei}  I am one winning trade away from breaking even
[14:34] {Threei}  hopefully this is it
[14:34] {Threei}  target .45
[14:34] {Threei}  stop under .10
[14:38] {Threei}  SPY lost a crashing look
[14:38] {Threei}  out TZXA for now
[14:38] {Threei}  .18
[14:41] {Threei}  what a swamp-like market today
[14:41] {dino} tough day
[14:42] {Threei}  my guess is: we have overcome Monday curse and gap up day curse,
[14:42] {Threei}  but today we have both of them
[14:42] {Threei}  so...
[14:43] {cipher} +.84 hitk thx dino
[14:43] {Threei}  nice
[14:44] {dino} lol, you do better than i on my picks
[14:44] {cipher} bought on gap fill
[14:44] {cipher} was a rollecoaster though innitially
[14:44] {dino} pulp type
[14:44] {cipher} lol
[14:46] {cipher} sprd .65 sm
[14:47] {Threei}  can't get a feel for the end of day direction
[14:47] {Threei}  should be down but tough
[14:47] {dino} down
[14:47] {Threei}  watching TZA for another entry
[14:51] {Threei}  no confidence
[14:52] {cipher} out sprd .82 +.17
[14:52] {swill} blame the market
[14:52] {dino} gj
[14:59] {cipher} hitk down again
[15:01] {cipher} hitk l .45 sm
[15:02] {dino} got .50 here
[15:05] {Threei}  (EU) All 17 EMU nations may be put on Credit Watch Negative by S&P - US Financial Press
[15:06] {Threei}  right... why waste time and paper for individual downgrades
[15:06] {Threei}  purely news-driven market today
[15:07] {Threei}  unless you are accidentally in on the right side right before the news, good luck catchign the move
[15:08] {RonS} Denmark will refuse to recognise SP downgrade unless in involves all 27 EU nations
[15:09] {RonS} ...joke...
[15:09] {Threei}  I like it
[15:11] {Threei}  so dino... we were right about down but how on earth do you trade this, lol
[15:12] {dino} ask cipher, he's doing well
[15:13] {dino} pick stocks that are fu'd on their own and trade them i guess
[15:13] {cipher} out hitk .88 +.43
[15:13] {dino} gj
[15:13] {Threei}  yeah
[15:13] {cipher} lol i don't know anything
[15:20] {Threei}  Announcement may come as early as after 16:00ET - financial press
[15:22] {Threei}  breakdown is coming on SPY
[15:22] {Threei}  .50 is critical support
[15:22] {Threei} Short Setup: SLW  .60 break
[15:23] {Threei}  unless of course they announce they downgrade only 16
[15:23] {Threei}  now get this nugget of wisdom:
[15:23] {Threei}  (GR) IMF Official: Greece program is in a difficult phase
[15:24] {Threei}  value added, eh
[15:28] {dino} lol
[15:30] {Threei}  SOY .50 break should make SLW .60 break work
[15:30] {Threei}  SPY
[15:30] {Threei}  here we go
[15:32] {Threei}  held .60 this time
[15:39] {Threei}  OK
[15:39] {Threei}  let's make it day-rescuing trade please
[15:42] {Threei}  1:1
[15:42] {Threei}  fiorst partial
[15:42] {Threei}  want 1:3
[15:43] {Threei}  1:2 will put me at b/e
[15:43] {Threei}  1:3 will make it + day
[15:45] {Threei}  1:2
[15:45] {Threei}  out another part .41
[15:45] {Threei}  b/e
[15:45] {Threei}  stop to .55
[15:53] {Threei}  out last piece
[15:53] {Threei}  well, at least I erased the loss
[15:54] {Threei}  (EU) Officials in Europe said to be confirming that S&P will be placing the EU-17 nations on credit watch negative
[15:57] {Threei}  if this cuit takes place, emaining S&P AAAs: Canada, Australia Hong Kong, Singapore, Norway, Sweden, Switzerland, United Kingdom
[15:59] {Threei}  thank you all
[15:59] {Threei}  have a good evening, see you tomorrow
[15:59] {patience} ty vad