Friday, December 9, 2011

Dec 09 2011

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Wasn't really our day - exchanged jabs with market, won some, lost some, endured a whole lot of boredom and ended up slightly negative. Oh well. It was a very good week anyway.

Session Time: Fri Dec 09 00:00:00 2011
[08:58] {Threei}  yawn
[08:59] {Threei}  hmmm... no nemo with blood thirst in his eyes and gun barrel roaming in search of something to kill?
[08:59] {Threei}  something's wrong with this morning
[09:00] {Threei}  (GR) Greece 10-year gov't yields rise above 35% for fresh Euro record highs
[09:02] {Threei}  (EU) Various EU Leaders comments on Summit following working lunch
[09:02] {Threei}  - German Chancellor Merkel: EU summit made a breakthrough for the foundation of a lasting and stable euro. Pleased ECB has suggested it will give expert support to the EFSF. Says the EU has always repsected the UK decision to stay out of the euro zone. Reiterates Germany will not boost the ESM beyond �500B.
[09:02] {Threei}  - Spain PM: Blocking ESM will require a majority of 85%
[09:02] {Threei}  - EU President Van Rompuy: Targets to ratify ESM by mid-2012. Disappointed that we could not get all EU27 nations to join in the treaty revisions [Reminder: 23 agreed today, 3 others have said they will consult their Parliaments, and UK has outright rejected the changes].
[09:06] {Threei}  Italy bonds are up too, 1.12%
[09:13] {ese} morning....week so far....being run over on my bike monday.....5 shows so far number 6 of my students colapsed after a show, I was at emergency until 2 AM Wednesday night ...and last but not least...lost my drivers license yesterday.....alchohol is a real option come tomorrow
[09:13] {Threei}  jeez
[09:14] {Threei}  what happened with license?
[09:14] {ese} this week and next always the busiest for me every year......high school music directors nightmare.....
[09:15] {ese} been like this for 30 years
[09:15] {ese} you go to the motor vehicle branch report it missing ....they cancel it and it costs you $17 to replace it
[09:21] {Threei}  so far, EU summit produced a lot of hot air
[09:21] {ese} what were the last 2 days like.......
[09:21] {Threei}  equity market is more or less happy there is no immediate collapse
[09:22] {ese} hmmmmmm
[09:22] {Threei}  bond market is unhappy that there is no solution
[09:22] {Threei}  good trading days for us ese
[09:23] {ese} excellent.....excellent
[09:23] {Threei}  so, plan for today
[09:23] {ese} good to see the boys and girls makin hay
[09:23] {Threei}  mostly looking for a short side for now,
[09:23] {Threei}  keeping im mind that news can change the mood on a dime
[09:23] {Threei}  and come at unpredictable time
[09:24] {Threei}  as all these guys baskng in their 15 min beams of attention rush to say something
[09:25] {Threei}  so, let's basically do what worked for us this week: stay careful, humble, seek our setups, grab our easy money and get out of the pool till next weak antelope walks by
[09:25] {Threei}  how's that for a mixed metaphor?
[09:27] {jakob} good morning
[09:27] {Threei}  jakob :)
[09:27] {ese} like it
[09:27] {Threei}  missed couple great days
[09:28] {jakob} yes i know  had to do a day job and it is not day trading.
[09:29] {Threei}  hate those
[09:29] {Threei}  they always interfere with life
[09:29] {jakob} hope will catch up
[09:30] {Threei} Short Setup: FCX  .30 break half lot
[09:30] {Threei}  umm
[09:31] {Threei}  I doubt it was possible to catch
[09:31] {Threei}  let's see if we get a bounce to short
[09:31] {Threei}  somewhere into .40 territoy
[09:32] {Threei} Short Setup: FCX  .40 break
[09:32] {Threei}  half lot
[09:32] {Threei}  is stays under .50
[09:32] {Threei}  invalidated
[09:33] {Threei}  next range to hunt for short is .60 - .70
[09:34] {nemo} hunt?
[09:34] {Threei}  lol
[09:34] {Threei} Short Setup: FCX  .60 break
[09:34] {nemo} I went to some places yesterday I haven't much rain this fall can't get into them without scuba gear
[09:34] {Threei}  if stays under .70
[09:35] {nemo} Now wouldn't that be a sight...Heading into the woods in camoflage scuba gear and a shotgun
[09:35] {Threei}  target 1:2
[09:36] {Threei}  stiop to .66
[09:37] {Threei}  out
[09:38] {Threei} Short Setup: MCD  .20 break
[09:38] {nemo} iwm at pivot and retracement
[09:38] {Threei}  stop above .30
[09:39] {Threei}  1:1
[09:39] {Threei}  1:2, out
[09:39] {Threei}  fast and furious
[09:40] {Threei} Short Setup: CS  .70 break
[09:40] {Threei}  if stays under .80
[09:41] {Threei}  target 1:2
[09:43] {Threei}  holding better than I'd expect...
[09:43] {Threei}  let's trail to .76
[09:43] {Threei}  it should have been at 1:1 by now
[09:43] {ese} L DB .22
[09:44] {ese} stop .13
[09:44] {nemo} anybody look at the trade you all ignored that I posted on the blog?
[09:44] {nemo} As if I don't know the answer...
[09:45] {ese} ahhhhhh....sorry neems.....concentrating on something else
[09:46] {Threei}  out CS
[09:46] {ese} out DB .35 +.13
[09:46] {ese} 1/2 out
[09:47] {ese} stop to break even balance
[09:47] {Threei} Short Setup: ABX  .40 break
[09:48] {ese} gotta do better than .40 or will toast the balance
[09:49] {ese} puuuuuurrrrrfect!
[09:49] {ese} out in full .42
[09:49] {Threei}  nice
[09:49] {ese} +.20
[09:50] {ese} tks.....thats my day 1K/1K......
[09:50] {Threei}  invalidated
[09:51] {ese} and it's taking off
[09:51] {ese} DB that is
[09:51] {_michael} were fighting the index on these shorts
[09:52] {Threei}  so far, yes
[09:54] {nemo} no real spy resistance until .55-.75 area
[09:55] {nemo} argualby IWM is above pivot and a retracement, could provide support
[09:55] {ese} pretty good number
[09:58] {Threei} Long Setup:  POT  40 break half lot
[09:58] {Threei}  stop under .90
[09:59] {nemo} s1 support is .86 set stop below
[10:01] {Threei}  1:1
[10:01] {Threei}  half out
[10:01] {Threei}  scalpers be happy
[10:01] {nemo} vwap here
[10:01] {Threei}  1:2
[10:01] {Threei}  out in full
[10:02] {Threei}  mixed bag morning
[10:05] {RonS} took pot .00 to .35  thanks 3i
[10:05] {Threei}  POT had more in it
[10:05] {Threei}  wtg Ron
[10:05] {Threei}  played it better than I did
[10:06] {RonS} last 7 cents were tough
[10:08] {RonS} wow dmnd
[10:15] {RonS} grudge match:  EU'S JUNCKER: Cameron's decision is "not good" for both U.K. and Europe. U.K. shouldn't continue "policy of isolation"
[10:17] {Threei}  good luck pressuring UK
[10:18] {Threei} Short Setup: SLW  .20 break
[10:19] {Threei}  if stays under .30 of course
[10:20] {Threei}  Juncker: what's with swimming alone while we are going to sink all together? Be a good sport and join us
[10:22] {Threei}  SLW stop to .26
[10:24] {Threei}  out
[10:24] {Threei}  7 cents was all it could make?
[10:26] {Threei}  rinse
[10:26] {Threei}  low volume day
[10:26] {Threei}  not liking those
[10:28] {Threei} Short Setup: POT  40 break
[10:28] {Threei}  if stays under .10
[10:30] {Threei}  target 1:3
[10:33] {Threei}  no go
[10:34] {_morris541} is there enough bullishnes for this to push higher from here
[10:35] {Threei}  with this luck of volume, anybody's guess
[10:35] {_morris541} im calling short side, but keeping it tight
[10:36] {Threei}  this is what I am doing so far, with mixed success
[10:37] {Threei}  so far it's "management day"
[10:37] {Threei}  as in:
[10:37] {Threei}  manage the trade risk wise, wait for the system odds to work their magic,
[10:37] {Threei}  and if they don't, well - who said there wouldn't be losing days
[10:38] {nemo} think short is eventually right probably more towards afternoon...euro issues going into weekend
[10:42] {Threei}  let's try something different
[10:42] {Threei}  stock that doesn't pay attention to the market
[10:42] {Threei} Short Setup: CL  .35 break half lot
[10:43] {Threei}  if stsays under .45
[10:43] {RonS} stepping on the tube, eh?
[10:45] {RonS} a very clear explanation:
[10:46] {Threei}  I was hoping for "stepping on the tube" explanation :)
[10:46] {nemo} Yeah, Merkel accomplishes what Hitler couldn't
[10:46] {Threei}  I suspect with the same success
[10:47] {nemo} cyanide capsules?
[10:47] {Threei}  lol... not as graphic
[10:47] {Threei}  just a retirement
[10:47] {RonS} colgate...toothpaste...
[10:47] {Threei}  let's go CL
[10:48] {Threei}  oh, got it
[10:48] {Threei}  I am dense today, sorry
[10:48] {RonS} find this situation hilarious:
[10:48] {Threei}  nemo, don't even think about it
[10:49] {nemo} don't worry that's like shooting a fawn
[10:49] {Threei}  fawn...... okaaay
[10:51] {nemo}
[10:51] {nemo} short brk.b
[10:51] {RonS} one of the reasons US turning into net oil exporter:
[10:52] {Threei}  come on... 2 cents from 1:1 again?
[10:52] {Threei}  stop to .41
[10:52] {nemo} "You can tell a woman she's the most ugliest thing you've ever saw, or say honey when I look at you time stands still."
[10:54] {RonS} was going to post that for you but the yahoo from florida should have used seen, not saw
[10:54] {nemo} hehehehehe
[10:55] {Threei}  lol
[10:56] {Threei} Long Setup:  SLW  .40 break
[10:57] {RonS} still love what a former boss said to a woman at a bar:  honey, i'm too old for you, and you're too old for me.....(he was 50 at the time and she about 30)
[10:58] {nemo} then there's the classic:  "I spent a year with her one night"
[10:59] {Threei}  target 1:2
[11:00] {Threei}  1:1
[11:00] {Threei}  half out
[11:00] {Threei}  scalpers know what to do
[11:01] {Threei}  76% of registered US voters say most members of Congress do not deserve re-election
[11:01] {Threei}  yet it's these same folks who voted for them?
[11:01] {Threei}  and will no doubt do the sdame next time?
[11:01] {RonS} they mean the other members 3i...never theirs...
[11:02] {Threei}  right
[11:02] {Threei}  this popular anger toward congress is hilarious... congress reflects those same folks that feel angry about their own choices
[11:02] {dino}   hitk sm l .50
[11:02] {Threei}  come on SLW
[11:02] {Threei}  give us 5 cents more
[11:04] {Threei}  Deutsche Bahn AG S&P puts AA rating on watch negative
[11:05] {nemo} why did S&P put the National Train service on watch?
[11:05] {Threei}  I suspect they confused it with Deutsche Bank
[11:05] {Threei}  at least I did, lol
[11:06] {Threei}  so, they right question qwould be why I gfelt the need to post it
[11:07] {nemo} .77 area resistance for spy
[11:07] {Threei}  SLW stop to .45
[11:09] {RonS} out slw +.15  thanks 3i
[11:10] {Threei}  welcome
[11:10] {Threei}  out SLW in full
[11:11] {Threei}  doesn't fully fix the day yet but makes it "wasn't really worth waking up"
[11:12] {Threei}  timely exit
[11:12] {Threei}  how about that
[11:13] {patience} good morning
[11:13] {Threei}  morning patience
[11:13] {Threei}  Focus Media Holding Hearing Muddy Waters again making cautious comments (timing uncertain)
[11:14] {Threei}  lol, like dog with a bone
[11:14] {Threei}  FMCN
[11:14] {nemo} spy dropped at .77
[11:18] {Threei}  GE
[11:19] {Threei}  dividend increase
[11:35] {Threei}  at some point bulls should remember about gravity
[11:35] {nemo} it's getting close
[11:36] {Threei}  feels this way but I'd wait out one more bout of mindless anthusiasm
[11:36] {nemo} afternoon
[11:36] {nemo}
[11:44] {Threei}  ok, here comes one more spike
[11:45] {Threei}  and unless news changes the mood, I suspect it's the last one
[11:45] {patience} is it options expiry today?
[11:45] {Threei} Long Setup:  TZA  .60 break
[11:45] {Threei}  half lot
[11:45] {Threei}  if stays above .45
[11:47] {RonS} only weeklies
[11:47] {Threei}  (HU) Hungary PM Orban: Every effort needs to be made to prevent Hungary from following Europe into recession
[11:48] {Threei}  lol... when they talk about EU recession, to me it sounds like "Titanic had a rough crossing"
[11:48] {Threei}  TZA target .90
[11:51] {Threei}
[12:08] {dino}  bth gap filled
[12:08] {dino} sm l .65
[12:14] {Threei}  not much works today
[12:23] {Threei}  (NV) Netherlands Debt agency comments on S&P credit watch; not concerned as it would impact everyone- Notes bond demand wasnt impacted in a major way
[12:24] {Threei}  lol, meaning there was no demand anyway?
[12:32] {dino} bth stop
[12:39] {Threei}  while nothing happens, a little update
[12:39] {Threei}  course booklet has been finished
[12:40] {Threei}  one day to go over it to make sure all logical links are in order,
[12:40] {Threei}  as in, there is no case when page 23 refers to something mentioned on page 86
[12:40] {Threei}  constructing videos should take 2-3 days,
[12:41] {Threei}  after that it's purely technical part,
[12:41] {Threei}  finalizing the format, putting things online, activating protection/access mechanisms
[12:41] {Threei}  which should be 2-3 days as well
[12:42] {Threei}  so we are on target to release it over the next weekend
[12:42] {Threei}  barring something unexpected of course
[12:42] {Threei}  like maid knee or strong case of laziness
[13:01] {Threei}  (FR) ECB's Noyer: Notes ECB liquidity measures can be considered a 'bazooka'; not seeing any signs of a credit crunch in France
[13:01] {Threei}  - Restoring confidence in Europe will help improve growth prospects in 2012.
[13:01] {Threei}  - Moody's analysis of France banks is 'erroneous,' fails to look at the fundamentals
[13:01] {Threei}  **Reminder: Earlier Moody's lowered ratings on three France banks (Societe Generale, Credit Agricole, and BNP Paribas)
[13:01] {Threei}  funny guy this Noyer
[13:49] {dino}  .
[13:50] {Threei}  good point
[13:55] {RonS} qotd:  warren buffet wants his idiot farmer son to be chairman of berkshire
[13:55] {Threei}  he is a farmer?
[13:55] {RonS} don't know
[13:56] {RonS} Howard Buffett, a farmer with no college degree
[13:57] {RonS} For his part, Howard Buffett is amenable to the plan, he told the newsmagazine, as long as he doesn't have to stop growing corn and soybeans.
[13:58] {RonS} better off with Jimmie Buffet...
[13:59] {RonS} ...he is a cousin...
[14:09] {RonS} nemo go shopping?...look swhc
[14:09] {Threei}  lol
[14:09] {RonS} you would think the O getting elected or something
[14:09] {Threei}  you are giving me nightmares
[14:21] {Threei}  (US) White House rejects the most recent payroll tax extension proposal from GOP- Note: GOP earlier: - Boehner's version of the bill would extend payroll tax cut at 4.2% for employees. - Bill would restructure unemployment compensation, US flood insurance program.(new component of plan) - Would increase Medicare premiums for higher earners, would block top earners from obtaining unemployment benefits. (same as prior GOP plan rejected by Congress)
[14:23] {Threei}  what's wrong with that?
[14:24] {Threei}  this guys really embrasses himself with these comments:
[14:24] {Threei}  (EU) Eurogroup's Juncker: Ireland is performing well, there is no reason for Greece to be expelled from the EMU- Feels Britain made a poor choice in isolating itself by not signing on to new framework
[14:29] {Threei}  don't see news ffor this spike
[14:29] {Threei}  be back in 20 min to try and find couple final plays
[14:42] {dino} took hours but out hitk .05 +.55
[14:49] {Threei}  back
[14:49] {Threei}  nice one dino
[14:50] {dino} ty not much going on
[14:53] {Threei}  tell me about it
[14:53] {Threei}  my coma is twice as deep today
[14:54] {Threei}  eve wife noticed I don't hear her speaking on 2nd minute, and usually I manage to fool her for about 5
[15:03] {Threei} Long Setup:  GRMN  .90 break
[15:11] {Threei} Long Setup:  TZA  .85 break
[15:11] {Threei}  stop under .80
[15:18] {Threei}  The Goldman Sachs Group Inc Said to be evaluating launch of wholesale trading unit; Credit Suisse also said to be considering the idea - financial press
[15:18] {Threei}  what's that?
[15:19] {Threei}  rinses are abound today
[15:24] {dino}  calling it a week, thx all
[15:26] {Threei}  take care dino
[15:26] {patience} have a good weekend, party time for me
[15:27] {Threei}  still have to get a few cents from GRMN for party
[15:52] {Threei}  (EU) ECB's Draghi said to be evaluating ways to distance the ECB from European politics- Draghi feels forced into more political roles due to lack of a response from Govts
[15:52] {Threei}  out GRMN with little scalp
[15:53] {Threei}  OK guys, thank you, have a good weekend
[15:53] {Threei}  see you Monday
[15:56] {patience} ty vad