Wednesday, December 7, 2011

Dec 07 2011

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Nice and active day with many trades on both sides. Slowed down in afternoon of course but that's a trademark of late.

Session Time: Wed Dec 07 00:00:00 2011
[08:41] {nemo} rain, rain go away, I can't wait to kill deer until another day
[08:43] {Threei}  this is second morning in row starting with murder talk
[08:44] {Threei}  that's how you know nemo's in neiborhood
[08:44] {nemo} and poor spelling lets us know Vad is lurking
[08:44] {Threei}  that's nopt bad spelling
[08:45] {Threei}  that accent in a written form
[08:45] {nemo} that's my joke
[08:46] {Threei}  no way
[08:46] {nemo} yep
[08:46] {Threei}  then you stole it from me
[08:46] {Threei}  and I am very grateul you didn't murder me first
[08:46] {nemo} too long a shot
[08:46] {Threei}  probably joke wasn't all that valuiable
[08:47] {nemo} only with foreigners who can't spell
[08:53] {RonS} gm...classic...“The function of a ratings agency is to visit the field at the end of the battle and shoot the wounded.”
[08:53] {Threei}  ron :)
[08:55] {RonS} Bloomberg news shreds the feds response:
[08:55] {Threei}  that's interesting
[08:55] {Threei}  I was surprised by lack of reaction
[08:56] {nemo} you mean the government lied to us?
[08:56] {Threei}  no... it just can't be
[08:56] {nemo} see where Putin wants the elections invalidated...hehehehehehe...he has to do a better job of rigging them
[08:57] {Threei}  "oops... I underdecieved... let me try again"
[08:58] {nemo} Should be interesting next time I talk to Al, he usually talks to him every month or so
[09:00] {Threei}  (EU) ECB said to be considering relaxing some rules on collateral regarding asset backed securities, as earlier speculated - financial press- ECB could allow additional uncovered bonds as collateral and two year loans for banking institutions
[09:00] {Threei}  yeah, that'll help
[09:02] {Threei}  huh
[09:02] {Threei}  ron, you read bloomberg response?
[09:03] {Threei}  I for one is underwhelmed
[09:04] {Threei}  bloomberg in fact confirms that there were not all those insane trillions thrown around
[09:04] {Threei}  and mostly argues about interpretation of the words and insignificant details
[09:11] {RonS} not insignificant to me that fed says it was clear in reporting to congress yet provided no details
[09:12] {RonS} it and the treasury are out of control in their opacity imo
[09:13] {nemo} all central banks are, but when you can just snap your fingers and money exists...
[09:15] {Threei}  sure...
[09:15] {RonS} meanwhile a TED spread review is in order...look 1 yr chart:!TEDSP:IND
[09:15] {Threei}  but still... not 7.7T, let alone 16 or 33... and most of response comes to "we never said that"
[09:17] {RonS} means the credit market is not buying all of this euro zone fix doodoo
[09:17] {Threei}  I would be disappointed in bind market intelligenece if they did
[09:17] {Threei}  bond
[09:17] {Threei}  they are supposed to be much more sphisticated than stock market participants
[09:18] {RonS} so the big Q is when will the equity markets adjust to the reality?
[09:19] {_morris541} excuse me, what is 7.7T?
[09:19] {Threei}  to me, this is a case of "genuine news" for a stock market
[09:19] {Threei}  what bind market knows, stock market waits to be told
[09:19] {Threei}  and this friday will be critical
[09:19] {Threei}  morris, Fed was accused of loaning 7.7T off the book
[09:20] {Threei}  latest exchange between Fed and Bloomberg looks to show it never happened
[09:20] {_morris541} ok thanks.
[09:21] {swill} :)morning
[09:21] {Threei}  swill :)
[09:23] {Threei}  SLW is holding near flat while SPY is -.50
[09:23] {Threei}  possible long candidate
[09:26] {Threei}  although overall, feels like first theme of the day should be down
[09:27] {Threei}  if FCX consolidates between 40.10 and .20, .10 break is a long trigger
[09:28] {Threei}  first trade on FCX is half lot as always
[09:28] {_morris541} RonS
[09:28] {_morris541} TED spread from chart you posted is 54
[09:30] {Threei} Short Setup: FCX  .10 break
[09:30] {Threei}  if stays under .20
[09:30] {RonS} 54?
[09:31] {Threei}  still valid
[09:31] {Threei}  big bid at .12 will be indicative
[09:32] {Threei}  target 1:2
[09:33] {Threei} Long Setup:  SLW  .55 break
[09:33] {Threei}  FCX 1:1
[09:33] {Threei}  play by the book
[09:34] {Threei}  partial, trail
[09:34] {Threei}  1:2
[09:34] {Threei}  feel free to be out in full
[09:34] {Threei}  SLW invalidated
[09:35] {RonS} gj got .08 to .88 thanks 3i
[09:35] {Threei}  :)
[09:35] {Threei}  wow LLY
[09:35] {Threei}  where is dino, this is his client
[09:37] {RonS} JC Penny Buys a Piece of Martha Stewart; $MSO up 35%
[09:37] {cipher} ibm l .78
[09:37] {Threei} Long Setup:  TNA  .15 break half lot
[09:37] {Threei}  stop under 45
[09:38] {Threei}  no go
[09:38] {Threei}  not a bounce time yet
[09:38] {cipher} stopped ibm -.16
[09:39] {nemo} tna now good risk
[09:39] {Threei} Long Setup:  TZA  28 break
[09:40] {Threei}  half lot
[09:40] {Threei}  if holding above .90
[09:40] {nemo} two way?
[09:40] {Threei}  no
[09:40] {Threei}  1:1... tough to execute
[09:41] {Threei}  if you got it, aim for 1:3 with partials
[09:41] {Threei}  if scalping, out at 1;1
[09:43] {nemo} watch .50 area on iwm .04 area spy for support
[09:44] {Threei}  FCX held nicely on this market drop
[09:44] {cipher} cat l .11
[09:44] {Threei}  looking for pullback entry
[09:45] {Threei}  aww dino... found a trade for you while you weren't here... LLY
[09:45] {dino} side track day
[09:46] {cipher} out cat .38 +.27
[09:46] {Threei}  well, to spoil your mood even more: yesterday you left 1 min before last winning call... t lift your mood" Ron did the same {G}
[09:46] {Threei}  nice one cipher
[09:46] {cipher} thx
[09:47] {Threei}  come on FCX, give us pullback
[09:48] {Threei} Short Setup: FCX  .30 break
[09:48] {Threei}  if stays under .40
[09:48] {Threei}  invalidated
[09:49] {Threei}  let'ss change it to .40 break
[09:49] {Threei}  double top hunt
[09:49] {Threei}  if stays under .50
[09:50] {Threei}  target 1:2
[09:50] {cipher} cat l .12
[09:50] {Threei}  1:1, half out
[09:50] {Threei}  scalpers be happy
[09:51] {cipher} ibm l .61
[09:52] {thomcbell} vad are u using 1 minute charts on these or 2 min
[09:52] {Threei}  scalpers win
[09:52] {Threei}  1 min
[09:54] {cipher} cat stopped -.12
[09:55] {Threei}  MIND dino
[09:55] {Threei}  lost its... umm... never mind
[09:56] {Threei} Short Setup: TS  37 break half lot
[09:56] {cipher} cat l .86
[09:56] {Threei}  if stays under .10
[09:57] {Threei}  invalidated
[09:57] {Threei} Long Setup:  TNA  .65 break
[09:57] {Threei}  ugh, late
[09:59] {Threei}  fast morning
[09:59] {nemo} perfect bounce at .51 of IWM
[10:00] {Threei}  let's see if TNA lets us in on pullback
[10:00] {cipher} out 1/2 cat .29 +.43
[10:00] {Threei}  wtg
[10:01] {Threei}  ok TNA
[10:01] {Threei}  same setup
[10:01] {Threei}  if stays above .50
[10:02] {cipher} mind l.76 sm
[10:03] {Threei}  invalidated
[10:03] {Threei}  still feels like long, just not sure about right entry
[10:05] {nemo} spy looks weak
[10:05] {Threei}  not anymore
[10:05] {Threei}  yeah
[10:06] {Threei}  uncertain moment
[10:06] {Threei}  still... long is what I am looking for here
[10:06] {nemo} worth it here with tight stop
[10:06] {Threei} Long Setup:  FCX  .40 break
[10:07] {Threei}  if holding above .30
[10:07] {Threei} Long Setup:  TNA  .55 break
[10:07] {Threei}  half lot
[10:07] {Threei}  if stays above .40
[10:07] {nemo} vwap .53 on spy  .88 on iwm
[10:08] {Threei}  no go
[10:09] {cipher} out mind .04 +.30
[10:09] {Threei}  not liking it... opening was easier
[10:09] {Threei}  ahha
[10:09] {Threei}  news
[10:10] {Threei}  (EU) Germany adn France still said to be in disagreement on the ESM size of �500B
[10:11] {Threei}  just in time to kill our long
[10:11] {Threei}  look at this rinse
[10:15] {Threei} Short Setup: MOS  .80 break
[10:15] {Threei}  half lot
[10:17] {Threei}  stop above .90
[10:17] {Threei}  target 1:3
[10:17] {Threei}  1:1
[10:18] {Threei}  .85 stop
[10:20] {Threei}  1:2
[10:20] {Threei}  stop to .75 for the balance
[10:21] {Threei}  1:3, over and out
[10:21] {RonS} got mos .78 to .55  thanks 3i
[10:21] {Threei}  welcome sir
[10:21] {Threei}  1:4
[10:21] {Threei}  1:5.... crying
[10:23] {Threei}  (EU) Germany and France still said to be in disagreement on the ESM size of �500B - financial press
[10:23] {Threei}  - France and Germany are in agreement in ruling out Euro bonds
[10:23] {Threei}  - ECB assisting in formulating rules for stronger fiscal integration but no signal is expected until commitments on tighter fiscal discipline are finalized.
[10:23] {Threei}  **REMINDER: earlier today, an unnamed German official was quoted as saying Germany insists on ESM staying below �500B in aid funds, and that talks in past days shown that some of the negotiators are not aware of the seriousness of the situation.
[10:24] {Threei}  "solution friday" may turn out to be not
[10:24] {Threei}  I am sure that's not english but it shoudl do
[10:26] {Threei}  well... I have one consolation about MOS
[10:26] {Threei}  look at the chart to see how we nailed the reversal
[10:26] {Threei}  as close to perfect as it gets
[10:27] {nemo} watch .00 area IWM for bounce
[10:27] {_michael} I'm new to the room but I have to agree, impressive
[10:27] {Threei}  ty
[10:27] {cipher} l mos .08
[10:27] {nemo} what? his English?
[10:27] {Threei}  well, I am finishing the chapter on reversals in a new course, so it was a good fit
[10:27] {Threei}  lol nemo
[10:28] {Threei}  I am also proud of finding a chance to use word "pornigraphy" in chart reading course... try to and find legit way to insert it in such dry topic
[10:29] {nemo} are consistent
[10:29] {swill} back in about an hour
[10:30] {RonS} FLASH: Italian 10 Year Yield Breaks Above 6%
[10:30] {Threei}  *(US) DOE CRUDE: +1.3M V -1ME; GASOLINE: +5.15M V +500KE; DISTILLATE: +2.53M V +1ME; UTILIZATION: 87.7% V 85.2%E
[10:31] {_morris541} where will the chapter on reversals be found please?
[10:31] {RonS} lol...guess am dense...every time i look at the oil report i am left is that good or bad?
[10:32] {RonS} ...and conclude...yes
[10:33] {RonS} gj mos cipher
[10:33] {Threei}  it's a part of a new course,
[10:34] {Threei}  Ron, the right answer is: it';s meaningless
[10:35] {_morris541} thanks
[10:35] {_morris541} i like these courses
[10:36] {nemo} why 111?
[10:36] {RonS} well...until it isn't 3i..."Energy Inventories Build Unusually Higher Than Expected and More Than Normally Seen During This Period"
[10:37] {Threei}  because that's how many of them are in first part of the course nemo
[10:38] {nemo} watch IWM here for TNA also, 72.75 area on IWM is 50% retracement of July 10 bottom...that has been a big deal
[10:38] {Threei}  still is ron... problem with those numbers is, they don't simply reflect inventory build-up depending on supply and demand,
[10:38] {Threei}  they also reflect minutae fluctuations of tanker movements
[10:38] {nemo} it's also the Cushing Supply...there's no way to get supply out of there
[10:38] {nemo} watch Brent, that's more reflective of true prices
[10:39] {Threei}  some of tankers got delayed by couple days for various reasons, boom, inventory is too low
[10:39] {cipher} out 1/2 mos .36 +.28
[10:39] {Threei}  they are there next day, and numbers that were watched yesterday become absolutely irrelevant
[10:42] {cipher} cat l .17
[10:43] {Threei}  trying to get a feel whether we found floor or more downside in cards
[10:43] {thomcbell} FDX strong
[10:44] {thomcbell} aapl no buyers
[10:45] {RonS} ok, makes sense...but if you keep posting it i will forget all of this and, is that good or bad?
[10:45] {RonS} :D
[10:46] {Threei}  hmmm... I am not sure what you are asking about
[10:46] {Threei}  {GGG}
[10:46] {thomcbell} me
[10:46] {Threei}  no, ron
[10:46] {RonS} driv turning into 52 wk at 84% of cash and book
[10:47] {Threei}  he is taxing my memory to the limit by making me remember the topic of exchange for more than 1 min
[10:48] {RonS} am talking about myself 3i...when you post the report again next week...
[10:48] {Threei}  yes, but I don't remember what report we are talking sbout
[10:49] {Threei} Long Setup:  SLW  .20 break
[10:49] {cipher} out rest mos .59 +.51
[10:49] {Threei}  if stays above .10
[10:49] {Threei}  wtg cipher
[10:49] {cipher} thx
[10:49] {Threei}  squeezing every drop out of them
[10:50] {Threei}  see this stubborn seller ast .20?
[10:51] {Threei}  acts like a dam
[10:51] {Threei}  if broken, stream should be powerful
[10:52] {RonS} thanks, need to go to the bathroom now...
[10:52] {Threei}  lol
[10:52] {Threei}  sorry
[10:55] {Threei}  invalidated of course
[10:57] {Threei}
[10:57] {Threei}  pivot point update
[10:57] {Threei}  video too
[10:57] {nemo} he's such a schmuck
[10:57] {Threei}  but if you are scared to see nemo himself, fear not
[10:58] {nemo} most you'll ever see is bunny
[11:05] {Threei}  that was floor, but bounce was so slow and with no pace changes, it was next to impossible to call it with any degree of confidence
[11:06] {nemo} ahhem...
[11:06] {Threei}  French PM: There Will Never Again Be A Partial Default In Euro Zone / ECB Has Been Most Courageous Institution During Crisis
[11:06] {nemo} '[10:27] {nemo} watch .00 area IWM for bounce
[11:06] {Threei}  that's a very bold statement
[11:07] {RonS} ...the guy is channeling napoleon
[11:07] {RonS} before waterloo...
[11:07] {Threei}  lol
[11:07] {Threei}  wait
[11:07] {Threei}  he says there won't be a PARTIAL default
[11:08] {Threei}  maybe he means only full blown ones from now on?
[11:09] {Threei} Short Setup: MON  .70 break
[11:09] {Threei}  if stays under .80
[11:10] {Threei}  target 1:3
[11:10] {Threei}  play by the book
[11:11] {Threei}  1:1
[11:12] {Threei}  .60 is a critical support for MON
[11:12] {Threei}  lose it and all hell will break loose
[11:12] {Threei}  Ron, are you proud of me? I used both these words in one senetcne, and did it right
[11:13] {Threei}  not that I could type "sentence"
[11:13] {Threei}  1:2 baby
[11:13] {RonS} perfect...larisa would be proud...
[11:14] {Threei}  yeah... where di she disasppeared again
[11:14] {cipher} MON beauty
[11:14] {Threei}  sure is
[11:14] {thomcbell} lovely really
[11:14] {Threei}  nears on 1:3
[11:14] {Threei}  cover last part as you see fit
[11:14] {Threei}  I am out
[11:15] {cipher} me too
[11:15] {cipher} I hate the company with passion
[11:15] {Threei}  even if it has more in it, it becomes a bit unreadable here
[11:15] {cipher} glad I could short it
[11:15] {Threei}  hehe
[11:15] {Threei}  here is 1:3
[11:16] {Threei}  you haven't had any reservations about shorting MOS earlier, so IK guess you don't discrimante much :)
[11:16] {cipher} you mean longin it
[11:16] {Threei}  lord... I really type like seal with his fins today
[11:17] {cipher} I guess I didn't discriminate :-)
[11:17] {cipher} raping it both ways :-)
[11:18] {Threei}  nemo, thank you for not zeroing in on "today" in above
[11:18] {nemo} too easy a target
[11:20] {Threei}  since when it's a reason not to shoot...
[11:21] {nemo} fine...
[11:22] {Threei}  (GE) Germany Fin Min: Evaluating possibly forcing banks to recapitalize - Germany press
[11:22] {RonS} ...back to the brown shirts?
[11:22] {Threei}  looking at SLW, how on earth did we miss .10 long
[11:22] {Threei}  clean double bottom
[11:23] {Threei}  grrr
[11:24] {Threei}  I guess ron... how do you force them to recapitalize? what if they can't raise any more capital?
[11:28] {dino} then govt buys stock/bonds, just as they did in us w/aig, c, etc
[11:29] {Threei}  yeah... welcome to the wrld of financial innovation
[11:29] {dino} they seem to be slowly following our tarp plan
[11:29] {Threei}  where there are no risks
[11:29] {thomcbell} wow
[11:29] {thomcbell} fcx
[11:41] {Threei} Short Setup: FCX  .65 break
[11:42] {Threei}  stop above .75
[11:42] {Threei}  notr sure about target, personal choice between scalp and partial/trail
[11:43] {Threei}  nice clean double top... will finish writing about those today
[11:47] {Threei}  notice how libertarian principles are kept alive in our room...
[11:47] {Threei}  you have a personal choice between scalping and trying for more
[11:48] {Threei}  Ron Paul would be proud
[11:48] {Threei}  let's trail stop to .71
[11:49] {Threei}  want to limit risk during lunch time trading
[11:51] {_michael} wan't slw a good double top
[11:51] {Threei}  it was
[11:51] {thomcbell} yy
[11:51] {Threei}  .40 break was valid trigger
[11:51] {_michael} thanks just wanted to make sure I was getting this!
[11:52] {Threei}  totally
[11:52] {Threei}  visual opattern recognition in action
[11:52] {_michael} FCX seems stuck around market open price
[11:52] {Threei}  after going over that course you'll see these patterns in a dish of oasta
[11:53] {Threei}  pasta
[11:53] {_michael} Coolio
[11:53] {Threei}  stripes on salmon's side
[11:53] {Threei}  ripples on the lake
[11:54] {Threei}  finally FCX
[11:54] {Threei}  1:1
[11:54] {Threei}  took its sweet time
[11:54] {Threei}  SLW certainly would havee been more efficient short
[11:55] {Threei}  even though its today's range is narrower
[11:55] {Threei}  go figure
[11:55] {Threei}  that was the reason I picked FCX
[11:56] {Threei}  50 cents SLW, 90 cents FCX - from which one would you expect faster move?
[11:56] {_michael} clearly fcx
[11:56] {Threei}  and yet
[11:56] {Threei}  just shows, logic is, well
[11:57] {Threei}  as Solomon Short famously said, Common sense isn't
[11:58] {RonS} so, what did Levi Long say?
[11:58] {_morris541} nothing
[11:59] {_morris541} but his wife said a lot
[11:59] {Threei}  rofl
[11:59] {RonS} lol
[11:59] {Threei}  this is delightfully plotically incorrect
[12:00] {Threei}  I fewel new friendship is being froged... nemo and morris
[12:00] {Threei}  forged... sheesh
[12:00] {cipher} l ibm 00
[12:01] {cipher} out .15
[12:01] {Threei}  lol... you don't fool around
[12:01] {cipher} nope
[12:01] {cipher} had a target before the fill
[12:02] {Threei}  dino's favorite "money on the pavement" concept
[12:02] {cipher} aka atm
[12:02] {cipher} ibm very tough to scalp
[12:02] {cipher} cat much easier
[12:07] {Threei} Short Setup: LLY  .60 break
[12:08] {Threei}  if stays under .65
[12:10] {Threei}  target closer to .40, 2 partials
[12:11] {Threei}  where is ese? he would have played this one with 10K shares for 5 cents scalp
[12:12] {cipher} mon selling again
[12:13] {Threei}  sweet vengeance, eh?
[12:13] {cipher} :-)
[12:13] {cipher} wish i was aboard :(
[12:16] {Threei}  there is a section in Taoist Trader course on tarding decision made under influence of emotions about company or industry
[12:17] {Threei}  ethicsm morlas, political inclinations
[12:17] {Threei}  will try to find it ater finishing LLY
[12:19] {Threei}  first partial about here, LLY
[12:21] {Threei}  OK, quote
[12:21] {Threei}  How much difference is there?
[12:21] {Threei}  Between "good" and "evil"
[12:21] {Threei}  Many erroneous ways to deal with market reality stem from stubborn and dogmatic attempts to assign �right� and wrong� labels to various actions. There are endless examples of such simplistic one-dimensional approaches. Unsophisticated commentators and traders expect the price to drop on any bad news and advance on good news. Opposite price action is being labeled as �wrong� and called manipulation.
[12:21] {Threei}  blah blah,
[12:22] {Threei}  Another frequently observed error is expectation that the market should act according to one�s ethical principles. A trader projecting his views of good and bad on the market expects the price to reflect such views. Needless to say, there are many market factors in play that have little if anything to do with ethics. To cite a few glaring examples of irrelevant views on the market:
[12:22] {Threei}  - shorting tobacco company stocks because smoking is a bad habit;
[12:22] {Threei}  - shorting oil-related company stocks because they pollute and use up the non-renewable resources;
[12:22] {Threei}  - shorting gun manufacturer stocks because guns are evil;
[12:22] {Threei}  - buying alternative energy company stocks because they produce clean energy and use renewable sources.
[12:22] {Threei}  While any of these directions may be and often are profitable, such trading decisions should not be made on ethics based grounds. In most cases, very different reasons cause price change, and most of them have nothing to do with �good� or �bad.� Now, if an investor refuses to put his capital in stocks of the companies whose products contradict his moral views because he doesn�t want to support them � it�s a perfectly acceptable approach; it, however, is different than expecting the price to follow one�s morals.
[12:22] {Threei}  end of quote
[12:23] {Threei}  wait, one mre piece
[12:23] {Threei}  One more often seen example of imposing moral views on the market action is an attitude toward shorting. Sometimes labeled as an anti-patriotic activity, shorting is viewed by some as harmful and unethical, as �betting on failure.� In reality of course it�s nothing of the sort � it�s simply recognition of the natural patterns we discussed earlier, particularly in Chapter 16 Knowing the Eternal Law.
[12:23] {Threei}  Such mistaken attitudes toward shorting also ignores the fact that shorting provides the balance to price action and softens future declines, since every short position holder is a future buyer. It�s important to understand from where such hostile perception of the shorting comes. The majority of individual traders and, especially, investors prefer and understand the long side. It�s also a part of the propaganda by money managing machines
[12:23] {Threei}  OK, enough :)
[12:25] {Threei}  put you all to sleep?
[12:25] {RonS} thanks rev ike...
[12:26] {Threei}  nothing's wrong with little afer-lunch nap
[12:26] {RonS} ya know, when i worked for the gas co during college summers, every morning before actually working we would read from the safety manual
[12:26] {cipher} s mon .49
[12:27] {RonS} it was like going to church...
[12:27] {Threei}  if it saved ay single life, it was worth it...
[12:28] {RonS} ya, i actually thought it was good...helpful reminder
[12:28] {cipher} covered .43 +.06
[12:28] {RonS} and btw rev ike was the original black tv evangelist in the '50's and 60's...the guy was a show...
[12:29] {Threei}  that was pure moral satisfaction trade, cipher, lol
[12:31] {cipher} lol how did you know :)
[12:31] {cipher} couldn't resist raping it one more time
[12:32] {Threei}  I just could encision that smirk on your face as you shirted it
[12:32] {cipher} you're damn right
[12:32] {Threei}  oh boy... my typing hits new low today
[12:32] {Threei}  just when I thought it was rock bottom
[12:33] {RonS} hey need a better phrase...this is a mixed room and that word even makes me cringe
[12:33] {cipher} uh sorry
[12:34] {_morris541} do you think market will pull back test lows wonder
[12:35] {Threei}  pretty much depends on whether we get new news from Europe
[12:35] {Threei}  if not, we are likely to drift aimlessly
[12:36] {Threei}  this week is fully about Europe
[12:36] {Threei}  with Friday being culmination
[12:37] {Threei}  (US) Senate Majority Leader Reid (D-NV): Congress will not leave for the holiday vacation until they pass the payroll tax cut extension
[12:37] {RonS} we can only wish...those bozos will come up with some excuse to drag it out some more...
[12:37] {Threei}  what a dedication
[12:37] {Threei}  could be
[12:37] {Threei}  it's jjst that every time to drag it out more, market loses patience
[12:38] {Threei}  realzation that solution may be unreachable becomes stronger every time they postpone it
[12:39] {Threei}  look at this mixc of contradictions:
[12:39] {Threei}  (SW) Sweden Fin Min: major changes to EU treaties would likely require national referendums, which would lead to greater uncertainty- Believe that stronger economic governance can be created under the existing treaties. - IMF could play a greater role in strengthening the euro zone firewall.
[12:39] {Threei}  just yesterday Germany and France said new treaty is needed
[12:40] {Threei}  and IMF role is a debate that involves much more than deciding between acronyms
[12:40] {Threei}  ECB, EFSF, ESM, IMF
[12:41] {RonS} responding to Reid...House Leader Boehner:  congeressional republicans are convening in hawaii to celebrate Christmas with out do nothing President
[12:41] {RonS} our
[12:43] {RonS} unreal...newt 2012 campaign keeps calling me...
[12:43] {Threei}  to run as his vice-president?
[12:43] {RonS} caller id...not answering...
[12:44] {RonS} cabinet of bitching...
[12:44] {RonS} might not get it...nemo in contention
[12:45] {Threei}  hey, if you'll ever need an undersecretary of ranting, let me know
[12:45] {Threei}  and pray nemo comes to interview sober
[12:45] {Threei}  he is not as spectacular then
[12:47] {RonS} kinda good news for nemo...Harry Morgan, ‘M*A*S*H’ and ‘Dragnet’ Actor, Dies at 96
[12:47] {RonS} ...the guy was a huge boozer...
[12:55] {Threei} Short Setup: IBM  .40 break
[12:55] {Threei}  half lot
[12:55] {Threei}  if stays under .50
[12:57] {Threei}  very likely to invalidaye, but not often do we have a chance to play IBM with 10 cents stop
[13:06] {Threei}  1:1
[13:12] {dino} cov ibm .24, +.15 ty vad
[13:12] {Threei}  welcome
[13:12] {Threei}  I was just thinking, you are awfully quiet today
[13:12] {dino} real estate issues occupying me
[13:12] {Threei}  you and 2/3 of US population
[13:13] {Threei}  but unlike most, you make money on it, lol
[13:14] {Threei}  so far, nice day
[13:14] {RonS} uhoh...:
[13:14] {Threei}  couple stops didn't spoil it
[13:15] {Threei}  it's the same diasagreement I posted earlier, I think
[13:15] {dino} gj
[13:15] {Threei}  not a new one
[13:15] {Threei}  otherwise we would see fresh wave of selling
[13:16] {Threei}  look at this:
[13:16] {Threei}  UAW Chief indicates there is no intention to organize against any foreign automaker at the moment; discussions with the foreign automakers with US factories continue- Remain ready to increase organization activities at foreign automaker plants if necessary
[13:16] {Threei}  yes, let's kill whatever jobs still remain
[13:17] {Threei}  Rome is burning, UAW fiddles...
[13:19] {cipher} l ibm .24
[13:19] {Threei}  stop under .15?
[13:19] {cipher} out .33
[13:20] {cipher} changed my mind
[13:20] {Threei}  man... you leave them no chance to exhale
[13:20] {cipher} ibm can be ruthless, learned the hard way
[13:21] {Threei}  oh yes, sometimes very volatile
[13:21] {Threei}  and many its competitors agree with you on ruthless part
[13:21] {cipher} when it goes it goes
[13:21] {cipher} but it's valid in both directions
[13:21] {Threei}  International Business Machines Corp EU commission said to accept certain concessions from IBM in exchange for dropping anti trust lawsuit - financial press
[13:22] {dino} out lly .49, +.11 ty 3i
[13:24] {Threei}  welcome
[13:28] {RonS} hal getting hammered
[13:34] {RonS} blago got 14 yrs...
[13:34] {Threei}  wpw
[13:35] {RonS} long or short?
[13:35] {cipher} s hal .81 stop .86
[13:35] {nemo} well that was fun...o.k. going out to try and kill something in the rain
[13:36] {nemo} tomorrow we're hunting cranberry bogs
[13:36] {RonS} q...deer smell more or less when wet?
[13:37] {nemo} they smell the same, but they can't smell as well...scent is pulled to the ground by the rain
[13:37] {RonS} lol...talkin about thme stinkin not them selling
[13:37] {RonS} them
[13:38] {cipher} die hal
[13:38] {Threei}  General Motors Corp CNBC's Lebeau: GM close to solution to fixing the Volt battery
[13:38] {Threei}  wasn't there "nothing wrong" ewith battery?
[13:38] {RonS} my conclusion...if they have fix already there was really little wrong...
[13:40] {cipher} out hal +.05
[13:41] {Threei}  they are "close to solution"
[13:41] {RonS} gm must be a european co these days...
[13:54] {RonS} oh no...Blagojevich will be sharing a cell with Rajaratnam, known by the guards as the "Rod and Raj Honeymoon Suite"
[13:54] {Threei}  lol
[13:54] {Threei} Long Setup:  TZA  .40 break
[13:54] {Threei}  if holding .30
[13:58] {Threei}  invalidated
[13:58] {Threei}  looking for different entry though
[13:58] {Threei}  idea is there
[14:00] {cipher} l cat .19
[14:00] {Threei}  (EU) IMF sets needs at $120B for additional resources related to EU loan facility
[14:00] {Threei}  that's all?
[14:00] {Threei}  pocket change for uncle ben
[14:07] {swill} back in 45
[14:07] {cipher} out cat -.09
[14:09] {Threei}  well, TZA was right idea but entry proved elusive
[14:16] {cipher} l hal .44
[14:19] {cipher} stopped =.09
[14:43] {cipher} news?
[14:44] {RonS} wow royl
[14:44] {Threei}  no news yet
[14:44] {RonS} $ROYL Wins Slope North Oil Shale Position
[14:44] {Threei}  sharp drop looks new-driven
[14:45] {Threei}  ahha, here it is
[14:45] {Threei}  (EU) S&P places overall Euro ZOne AAA rating on watch negative after placing the member states ratings on watch negative on Dec 5
[14:45] {cipher} +.16 royl thx
[14:46] {Threei}  so, the scenario grom now on is:
[14:46] {Threei}  from
[14:46] {Threei}  on Friday these guys wioll fail to produce anything really effective, and will postpone it once again,
[14:47] {Threei}  but rating agencies will react on absence of action
[14:47] {Threei}  and downgrades will send yeilds up again
[14:47] {Threei}  CreditWatch placement on the eurozone member states was prompted by our concerns about the potential impact on these member states of what we view as deepening political, financial, and monetary problems within the eurozone.
[14:47] {Threei}  - We expect to conclude our review as soon as possible after the European summit on Dec. 9, 2011. Depending on the outcome of our review of the ratings on eurozone member governments, we could lower the long-term rating on the EU by one notch, if any.
[15:05] {dino} ipgp drop
[15:06] {dino} sm l .33
[15:07] {Threei}  IPG Photonics Weakness being attributed to cautions comments at Barclays Conf- forecasted Q1 revenue to rise 5-10%
[15:08] {dino} ty
[15:09] {dino} out .82, +.49
[15:10] {cipher} nice fill, tried at .79 no luck
[15:10] {cipher} what ecn?
[15:12] {dino} ty
[15:12] {dino} smart x
[15:12] {cipher} cool I'll ut it on my preferred list
[15:14] {dino} s3 37.98
[15:17] {Threei}  spike
[15:17] {Threei}  no news
[15:17] {Threei}  except meaningless blanter:
[15:17] {Threei}  (NV) Netherlands PM: More automatic sanctions are needed; keeping the EU at 27 members is important
[15:19] {Threei}  these are not technical moves
[15:21] {RonS} unreal...Oh my.... #MariaBartiromo just said that Barney Frank was 'not going down' quietly.
[15:21] {Threei}  ummm
[15:22] {Threei}  ok... lol
[15:22] {Threei}  NYPD warns banks about letter bombs after device mailed to Deutsche Bank HQ in Germany
[15:23] {dino} roflol, and i bet at cnbc they are lol too
[15:23] {patience} ok, are things getting weirder or what?
[15:23] {cipher} wow royl
[15:26] {RonS} gs push
[15:34] {RonS} oh canada...
03[15:35] * Retrieving #discussions modes...
[15:39] {Threei}  wow
[15:39] {Threei}  bout of optimism
[15:40] {Threei}  I'd even call it spasm of enthusiasm
[15:40] {patience} money into commodities and cdn banks
[15:41] {Threei}  oh boy
[15:41] {Threei}  (EU) G20 nations considering varuous IMF lending programs for Europe, may add to firepower - japan press
[15:41] {Threei}  that's all??
[15:41] {Threei}  ok... watching TZA for entry
[15:42] {Threei}  half lot
[15:42] {Threei} Long Setup:  TZA  .75 break
[15:42] {Threei}  stop under .65
[15:43] {Threei}  no go
[15:44] {Threei}  rinse
[15:44] {Threei}  grr
[15:46] {RonS} enough to piss off the pope...
[15:47] {Threei}  yeah, this is bad manners on TZA part
[15:49] {Threei}  one of those cases when you hate your own discipline, lol
[15:52] {Threei}  ok guys, thank you all
[15:52] {Threei}  have a good evening, see you tomorrow
[15:52] {patience} ty vad
[15:53] {cipher} IPGP BLOOD
[15:53] {cipher} sorry caps
[15:58] {_beaujo} OK to ask a question now about this room's configuration?
[15:58] {Threei}  sure
[15:59] {Threei}  uh oh
[15:59] {Threei}  unbelieavable
[15:59] {Threei}  they need to cork it
[16:00] {Threei}  go ahead beaujo
[16:00] {_beaujo} First, I really enjoyed my first day here.  Can I configure to stay live and not have the auto-left?
[16:01] {Threei}  ythak you
[16:01] {Threei}  you don't have to leave
[16:01] {Threei}  our server doesn't require that
[16:01] {Threei}  you can even leave it overnight
[16:02] {_beaujo} Three times today, (no relation to Threei) I was greyed out and had to get back in.
[16:03] {Threei}  that was most likely related to connection slowdown
[16:03] {Threei}  what server does is, it pings every member of the room regularly
[16:04] {_beaujo} seemed to be if I didn't click in window for a while.
[16:04] {Threei}  and if someone's connection slowed down below certain threshol that makes it too removed from real time, server ddisconnects
[16:04] {Threei}  these things are related mostly to configuration of your isp than our side
[16:04] {cipher} any idea what is the ping interval?
[16:04] {Threei}  no, sorry
[16:05] {cipher} I got disco'ed couldn't get back for a while
[16:05] {Threei}  but it has to be very severe lag for server to disconnect: 120 seconds
[16:05] {Threei}  that practically means you would see a message 2 min later
[16:05] {cipher} yeah it took about 2 min to be able to get back
[16:05] {_beaujo} OK, we will see how it goes tomorrow.  And want you to know, that this first day has been truely an excellent learning experience.  Didn't make any money, but sure learned a lot.
[16:06] {Threei}  great to hear
[16:06] {Threei}  don't hesitate to ask questions
[16:06] {cipher} welcome to the room beaujo
[16:06] {Threei}  first 30-40 min, we are trying to keep banter to minimum
[16:06] {cipher} I'm a newbie myself
[16:06] {Threei}  after that, if you have a questjion, ask,
[16:06] {Threei}  and if there is somethgn urgent, I will just answer it later
[16:07] {_beaujo} Fine.  Thanks cipher.  And is anyone using IB?