Thursday, December 1, 2011

Dec 1 2011

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7 calls, 6 wins. Bacon jokes. Another day in the office. No complaints at all.

Session Time: Thu Dec 01 00:00:00 2011
[08:39] {Threei}  (US) INITIAL JOBLESS CLAIMS: 402K V 390KE; CONTINUING CLAIMS: 3.740M V 3.650ME
[08:39] {Threei}  - Prior Initial Claims revised higher from 393K to 396K
[08:39] {Threei}  - Prior Continuing Claims higher from 3.691M to 3.705M
[09:07] {Threei}  good news:
[09:07] {Threei}  apparently Rasmussen found the way to calculate the % of people whose mind left their bodies and moved to another universw
[09:07] {Threei}  proof? here:
[09:08] {Threei}  6% Say Congress Doing Good or Excellent Job
[09:08] {RonS} ...those are the brokers of the
[09:09] {Threei}  that was my first thought, but 6% seems too high for that
[09:09] {dino} gm
[09:10] {Threei}  dino :)
[09:15] {swill} morning
[09:16] {Threei}  swill :)
[09:17] {Threei}  trying to get a feel for the main theme for today
[09:17] {Threei}  seems to me, should be long (barring news of course)
[09:17] {Threei}  shorts shouldn'tn't escape with just one day squeeze, even such big squeeze
[09:18] {Threei}  somewhat greenish, then small gap down on bad job numbers..
[09:18] {Threei}  feels like foundation for another green day is being laid out
[09:20] {Threei}  larisa... thank goodness
[09:20] {Threei}  one sane person in this asylum
[09:20] {larisa} gm :)
[09:21] {RonS} clwr halt
[09:21] {Threei}  what a month you missed
[09:21] {Threei}  CLWR Clearwire Sprint and Clearwire reach funding deal; to operate WiMax network through at least 2015
[09:25] {Threei}  LULU will be a funny one today... dino, your potential client
[09:28] {dino} watching it
[09:30] {dino} 39.30s gap
[09:30] {Threei} Short Setup: FCX  .35 break half lot
[09:31] {Threei}  if stays under .45
[09:31] {Threei} Short Setup: SLW  .70 break
[09:32] {Threei}  FCX 1:1
[09:32] {Threei}  1:2
[09:33] {Threei}  SLW if stays under .80
[09:33] {dino} cov fcx .20, +.14 ty vad
[09:34] {Threei}  welcome sir
[09:34] {Threei}  SLW 1:1
[09:35] {Threei} Short Setup: QCOM  .45 break half lot
[09:35] {Threei}  if stays under .55
[09:36] {Threei}  SLW 1:2
[09:37] {Threei}  out in full .46
[09:37] {dino} gj
[09:37] {Threei}  QCOM trail to .51
[09:37] {Threei}  ty
[09:37] {Threei}  market is getting ready to snap back
[09:38] {Threei}  out QCOM
[09:38] {Threei}  small profit but I have a feel I better get out of the way
[09:39] {dino} 124.47 pivot
[09:39] {Threei} Long Setup:  SLW  .40 break
[09:40] {Threei}  formally you can keep stop under .35
[09:40] {Threei}  1:1 for srop under .30
[09:41] {Threei}  1:3 for .35 :)
[09:41] {Threei}  kidding, it's .30 for me
[09:41] {Threei}  1:2
[09:41] {Threei}  1:3 out in full
[09:41] {Threei}  here is my snapback
[09:42] {Threei}  glad you are not in shrts anymore?
[09:42] {Threei}  look at QCOM
[09:42] {Threei}  no news btw, clean technical shot
[09:42] {Threei}  good intuition Threei
[09:42] {Threei}  why thank you Threei
[09:43] {swill} yes
[09:43] {thomcbell} FCX NICE BOUNCE
[09:43] {dino} out slw .64, +.22
[09:43] {dino} ty
[09:43] {Threei}  :)
[09:43] {Threei}  4 out of 4
[09:43] {Threei}  can I go home
[09:43] {Threei}  ?
[09:43] {dino} nope
[09:43] {Threei}  I know... could I ever
[09:44] {thomcbell} AAPL cant hold bid
[09:44] {Threei} Long Setup:  FCX  .60 break\
[09:44] {Threei}  half lot
[09:45] {pragmatic} hmm, 59 and then 64 right away
[09:45] {Threei}  yeah, jumped
[09:46] {Threei}  very nice of it to give second chance
[09:46] {Threei}  1:2
[09:46] {Threei}  1:1, sorry
[09:47] {Threei}  out
[09:47] {Threei}  close enough to 1:2
[09:49] {Threei}  how's that for a snapback?
[09:49] {swill} very snappy
[09:49] {Threei}  hehe
[09:50] {dino} out fcx .84, +.23 ty vad
[09:51] {RonS} zagg sm l .92
[09:51] {Threei}  dino :)
[09:52] {thomcbell} good job Vad
[09:53] {Threei}  ty
[09:56] {Threei} Short Setup: FCX  .70 break
[09:56] {Threei}  invalidated
[09:56] {RonS} wow, had not looked before...zagg 52% float short
[09:57] {Threei}  numbers are coming,, let's back off a bit
[10:00] {Threei}  *(US) NOV ISM MANUFACTURING:52.7 V 51.8E;
[10:00] {Threei}  *(US) OCT CONSTRUCTION SPENDING M/M: 0.8% V 0.3%E
[10:01] {Threei}  what's with this crazy drop
[10:01] {pragmatic} CNBC guys seems to be excited
[10:01] {Threei}  I see nothing horrible in numbers
[10:01] {Threei}  who leaned on a wriong button?
[10:01] {Threei}  now, that's more like it
[10:02] {dino} ston sm l .31
[10:02] {Threei}  lol, dino is back to his ATM
[10:03] {Threei}  Geithner wows to fight to prevent opponents from weakening Dodd-Frank
[10:03] {Threei}  idiot
[10:03] {dino} out ston .61, +.30
[10:03] {Threei}  there... ATM works
[10:04] {dino} wow too soon
[10:04] {cipher} s ston .96
[10:05] {dino} wtg
[10:05] {cipher} out .48 +.48
[10:06] {cipher} thx dino for idea
[10:06] {dino} wpi sm l .00
[10:06] {dino} np
[10:07] {RonS} zagg stop to .05
[10:08] {dino} gj
[10:09] {dino} wpi to /98
[10:09] {dino} .
[10:12] {dino} stop wpi -.02
[10:16] {RonS} stop zagg +.13
[10:17] {dino} gj
[10:21] {dino} kss sm l .51
[10:21] {dino} gil blood
[10:26] {dino} kss stop -.24
[10:28] {cipher} kss .18 l late
[10:29] {cipher} out .35 +.17
[10:29] {dino} gj
[10:29] {cipher} thx dino
[10:34] {Threei}  (EU) IMF: No discussions have taken place regarding ECB lending to the IMF; IMF likely revise down global GDP forecasts
[10:34] {Threei}  - Calls on US to extend the payroll tax and unemployment benefits; no forecast for double dip recession in the US
[10:34] {Threei}  - Notes that any ECB lending to the IMF would be within current law
[10:34] {Threei}  - Once again reiterates that the IMF has not been in discussions with Italy on financing
[10:34] {Threei}  - Discussions on Greece tranche scheduled for Monday; IMF to meet with Greece Govt on Dec 12-16
[10:35] {Threei}  hmm?
[10:35] {Threei}  EU Calls on US to extend the payroll tax and unemployment benefits?
[10:36] {dino} lol, why would you listen to those bozos
[10:36] {Threei}  amazes me that they are concerned about that
[10:38] {cipher} l cat .68
[10:40] {cipher} out flat
[10:47] {RonS} so, is ese teaching full time these days?
[10:47] {dino} ston sm l .45
[10:48] {cipher} ibm l .84
[10:51] {Threei}  busy season for him
[10:54] {dino} ston stop -.20
[10:58] {RonS} ston...guess people stopped dieing...
[10:58] {Threei}  or they prefer alternative means of burying
[10:58] {dino} debt downgrade
[10:59] {RonS} their investors must be watching that zombie show
[11:00] {Threei}  I for one intend to find some sedductive vampiress when my time comes, leave STON with no busness of mine and whatever I do, stay clear of Buffy from that moment on
[11:00] {RonS} lol
[11:01] {dino} but buffy is hot, hard to stay away
[11:02] {dino} wpi sm l .00
[11:02] {dino} lng l .86
[11:05] {cipher} out ibm .15 +.31
[11:05] {dino} pfg drop
[11:06] {RonS} think conf call going on...
[11:07] {thomcbell} KLAC trades great
[11:07] {thomcbell} same with sbux today
[11:07] {thomcbell} klac trades great
[11:08] {thomcbell} kind of funny
[11:10] {RonS} klac reminds me of the mars attacks movie
[11:10] {thomcbell} bhp nasty
[11:10] {thomcbell} crude getting smacked
[11:11] {Threei}  Bank of America Corp Massachusetts Attorney General said to be filing suit against 5 banks over deceptive foreclosure practices; press conference to take place at 13:00ET
[11:11] {Threei}  Crestor patent is dead
[11:11] {Threei}  this is great week for cholesterol-infested
[11:11] {Threei}  well, those of them who relied on drugs anyway, instead of bacon
[11:11] {RonS} infested...brutal
[11:11] {Threei}  lol
[11:12] {Threei}  I for one cured cholesterol with more bacon, and it worked great
[11:14] {dino} wpi stop +.10
[11:18] {thomcbell} anything news for this move?
[11:20] {Threei}  no
[11:20] {thomcbell} tell that to bhp fans
[11:20] {thomcbell} lord god
[11:21] {thomcbell} high volume doji 15 on spy good one today
[11:22] {thomcbell} vad
[11:22] {Threei}  what time?
[11:23] {thomcbell} 10:15
[11:23] {thomcbell} closed below the low at 10:45
[11:24] {thomcbell} not a huge index move but if you played fcx or bhp at the time - big moves
[11:25] {Threei}  dear Santa... need a hint? here:
[11:25] {Threei}
[11:25] {RonS} ston just chewed through a 12k offer at 21 in seconds
[11:27] {thomcbell} what does STON do?
[11:27] {RonS}
[11:28] {Threei}  buries people, tbell
[11:28] {RonS} apparently in more ways than one...
[11:28] {Threei}  lol
[11:28] {Threei}  rofl
[11:28] {cipher} l ibm .05
[11:28] {Threei}  that's where those vampire jokes earlier came from
[11:28] {cipher} l cat .00
[11:29] {thomcbell} Wow Ron - that looks like a good site
[11:29] {thomcbell} FINVIZ
[11:30] {RonS} yep
[11:30] {cipher} out ibm + .24
[11:30] {cipher} stopped cat -.10
[11:30] {Threei}  market loses lows
[11:31] {Threei} Long Setup:  TZA  .90 break
[11:31] {Threei}  half lot
[11:32] {thomcbell} good jokes above - haha
[11:32] {Threei}  invalidated
[11:32] {Threei}  but looking for better entry
[11:32] {Threei}  .80 break
[11:32] {Threei}  if holding .70
[11:34] {Threei}  .75 break
[11:34] {Threei}  if holding .65
[11:35] {dino} wpi sm l .51
[11:36] {Threei}  that's it SPY... roll over and die
[11:38] {Threei}  good boy
[11:39] {Threei}  what ws that?
[11:40] {Threei}  no news
[11:40] {Threei}  yet
[11:40] {Threei}  but the move is obviously news-related
[11:58] {RonS} dino, is ston going for a gap fill?
[11:58] {dino}  where?
[11:59] {RonS} got a trigger?  thinkin 22.20 break might get a quick move to 80'sish
[12:00] {dino} no, lost on it
[12:00] {RonS} so, is it dead to you?
[12:01] {RonS} :)
[12:01] {dino} yes, unless it retests lod
[12:01] {dino} altho you may be right, moving up
[12:01] {patience} good morning
[12:02] {RonS} ah so, gm to the golden girl...
[12:02] {patience} let me check
[12:03] {patience} yup, still in profit in my gold plays
[12:03] {Threei}  morning patience
[12:03] {dino} afternoon here
[12:03] {Threei}  actually, here too
[12:03] {patience} crack of 9am here
[12:03] {Threei}  whole 3 minutes
[12:03] {Threei}  oh wait, my compurter time in NY
[12:04] {Threei}  never mind
[12:04] {dino} thought you moved
[12:05] {Threei}  looking at your weather? never
[12:05] {RonS} US committed to take steps to freeze Iranian Central Bank assets and to work with allies to take similar action, US official says -
[12:06] {patience} so vad, i have a kitten being dropped off at my house saturday...thought of your place as its new home   what do you think?
[12:07] {Threei}  hmmm
[12:07] {patience} it speaks russian
[12:07] {RonS} lol
[12:07] {patience} it comes with gold coins
[12:07] {Threei}  does it drink vodka?
[12:07] {patience} and a year's supply of cat food
[12:07] {patience} nope, no vodka but it will pour it for yu
[12:07] {Threei}  getting tempted
[12:08] {dino} wpi to .81
[12:09] {Threei}  ok... throw Transformer Prime in, and I am sold
[12:10] {dino} out wpi .84, +.33
[12:10] {Threei}  wtg
[12:10] {dino} ty
[12:18] {dino} txi spike
[12:24] {dino} wow 6 bucks
[12:24] {dino} not avail
[12:29] {dino} 9 bucks
[12:30] {Threei}  lol, best quote of the day
[12:30] {Threei}  Okay, who put a "stop payment" on my reality check?
[12:32] {RonS} $TXI ends stand still pact with another company, dont know who
[12:32] {RonS} what is "stand still pact"?
[12:32] {Threei}  Google Inc Planning to develop system of delivering goods same day or next day to customers; discussing the initiative with shippers and retailers - financial press
[12:33] {Threei}  here it is Ron:
[12:33] {Threei}  - Under the agreement, the NNS Parties had agreed not to take certain actions with respect to the Company, including among other things not to acquire more than 20% of the outstanding common shares of the Company or more than 20% of the outstanding principal amount of publicly held notes issued by the Company, not to effect any tender offer, exchange offer, merger, acquisition, recapitalization or other extraordinary transaction involving the Company
[12:34] {Threei}  in other words, TXI is free from this now
[12:53] {dino} kss l .00
[13:01] {dino} gil l .95
[13:10] {Threei}  wow
[13:10] {Threei}  National GOP Poll: Gingrich 38% Romney 17%
[13:10] {Threei}  can't believe it... I was sure Romney has it all but clinched
[13:13] {RonS} on the one hand newt is the smartest guy in the room
[13:13] {RonS} on the other that smarmy smile means he thinks it and that makes people hate him
[13:13] {Threei}  no doubt... enough to listen to him speaking to gather as mu8ch
[13:13] {Threei}  latter is very true too, lol
[13:14] {dino} agree ron
[13:14] {RonS} dems love to hate newt
[13:14] {dino} kss to .12
[13:14] {Threei}  he has rare ability to coin phrases that have wings, and do it on the go
[13:14] {Threei}  but gosh, he is so easy not to like
[13:15] {dino} media never critizes obamination, but they did to perry, cain, next newt, etc
[13:16] {Threei}  anyway, I start doubting it really matter who will run eventually
[13:16] {Threei}  it will be obama's election to lose
[13:16] {dino} 4 more yrs obamination will destroy usa
[13:16] {Threei}  if people will have had enough of him, they will vote for whoever
[13:16] {dino} out kss .19, +.19
[13:17] {RonS} gj
[13:17] {dino} thats what i hope 3i
[13:17] {Threei}  ron... that warning about not puking was timely but in vain
[13:19] {patience} in intc
[13:20] {Threei}  here is interesting piece from sarkozy:
[13:20] {Threei}  On EU integration: - Decisions on way forward must be made by a 'qualified majority' rather than unanimous decisions; the Schengen agreement should be overhauled.
[13:22] {Threei}  here is a cvery tough case for me to decide where my sympathies are:
[13:22] {Threei}  Google Inc Hearing chatter circulating that European Commission may be preparing to announce its allegations of abuse of search dominance soon
[13:22] {Threei}  **REMINDER: 08/02 : A press report stated ttat the EU commission was evaluating approximately 9 anti trust issues related to Google. In February the EU said its anti trust probe was continuing and that it wasn't in talks with Goggle on a settlement.
[13:22] {Threei}  I don't like google dominance
[13:22] {Threei}  and I don't like EU putting its nose in every business
[13:23] {Threei}  choices choices...
[13:23] {RonS} wcrx spike
[13:27] {RonS} inhx a monster
[13:29] {patience} anybody read Invisible Hands: Top Hedge Fund Traders  on Bubbles, Crashes and Real Money?
[13:29] {dino} no
[13:29] {patience} second edition published this spring
[13:29] {dino} you read it? was it good
[13:29] {patience} have read chunks of it, trying to find a pdg
[13:29] {patience} pdf
[13:29] {patience} hugh hendry, one of the guys i follow is one of the chapters
[13:31] {patience} it is very good for me in how these traders think
[13:32] {dino} gil stop -.13
[13:35] {dino} mmyt drop
[13:35] {thomcbell} ston
[13:36] {Threei}  patience... dcc
[13:37] {dino} wcrx s .72
[13:43] {thomcbell} klac vad
[13:43] {Threei}  dunno... not liking hiow it trades
[13:43] {thomcbell} just keeps grinding higher
[13:44] {dino} mmyt all over
[13:44] {thomcbell} i was looking at it showing relative strength this am
[13:44] {dino} cov wcrx .55, +.17, ty ron
[13:47] {RonS} yw...still playing 400 sh lots?
[13:47] {dino} took fl on it
[13:47] {RonS} fl = flyer?
[13:48] {dino} lol full lot, 1k
[13:49] {RonS} ibm lookin to crack 190...cipher coulda nailed it for more than 25 cents!
[13:49] {RonS} :)
[13:53] {patience} feels like the market wants to do another hard run, actually starting to look forward to news stories just so the government floods newly printed money into the system...pavlovian response being built here
[13:54] {dino} feels up, but we are up 700
[13:54] {dino} +
[13:54] {patience} today, i slept in too long?
[13:56] {patience} Dino, did you ever read  Dying of Money: Lessons of the Great German and American Inflations?
[13:56] {dino} no, just death of money
[13:56] {dino} or when money dies i mean
[13:57] {patience} adam ferguson's book
[13:57] {dino} good?
[13:57] {patience} worth reading, got a pdf at on dying of money
[13:58] {patience} wanted to read about the 60's/70's in the u.s.    i lived it but was too young to appreciate what was happening then
[13:58] {patience} other than we got a small car
[14:00] {dino} yeah, i was grade school then, remember my father doing well w/r.e in late 70s
[14:24] {dino} fran drop
[14:24] {dino} wpi lod
[14:25] {RonS} hearing pfe selling lipitor for price of generic and wpi ceo whining about it
[14:26] {dino} thx
[14:26] {RonS} "unfair competition"
[14:26] {Threei}  bacon... same effect, more pleasure
[14:27] {RonS} more expensive...$4/lb here
[14:28] {Threei}  wrong methodology of comarison
[14:28] {RonS} damn koreans keep buying out pork...
[14:28] {Threei}  comparison
[14:28] {RonS} our
[14:28] {Threei}  after lipitor you still want to eat,
[14:29] {Threei}  so you have to add price of meal to price of lipitor for fair comparison
[14:46] {dino} zzzzzzzzzzzzzzzzzzzzzz
[14:47] {Threei}  sorry
[14:47] {RonS} wtf...ever heard of this one?  $LULU downward facing dog reversal in play
[14:47] {dino} lol
[14:47] {Threei}  lol
[14:47] {dino} woof
[14:48] {Threei}  I am trying hard to entertain you with my bacon intermissions... but it seems bacon is entertaining to me only
[14:49] {swill} have you decided weather you r going to put the videos and the coarse together or seperate?
[14:50] {Threei}  well, eventually they will be together
[14:50] {RonS} lol...General Motors will buy back Chevrolet Volts from any owner afraid electric cars will catch fire, CEO says
[14:50] {Threei}  I am just not sure I will be able to make video fast enough to release the whole thing in reasonable time
[14:51] {Threei}  if not, then I will release the first part and add video in couple weeks
[14:51] {Threei}  anyway it will take time to go over the first part
[14:52] {swill} will videos be on dvd?
[14:53] {RonS} will coinstar or netflix carry them?
[14:56] {Threei}  online
[14:57] {swill} cool
[15:01] {Threei}  looking at Newt on TV screen... seriously, can his imagemakers wipe that smug smirk off his face??
[15:02] {dino} keep it, it pisses off the dems
[15:02] {Threei}  with sandpaper if tat's what it takes
[15:02] {Threei}  well, it will piss off voters too
[15:02] {RonS} funny thing is he has that when he thinks he is being amiable
[15:02] {Threei}  they are being talked at for 4 years
[15:03] {RonS} when he is talking about a serious subject it goes away and he looks fine
[15:03] {Threei}  and here he comes saying wqith that smirk "I too am smarter than you all"
[15:03] {Threei}  *(IT) ITALY NOV BUDGET BALANCE: -�8.5B V -�1.9B PRIOR;
[15:03] {dino} well at least he does not lecture us
[15:04] {RonS} his real problem is that he refuses to have a handler like clinton had w/ dick morris
[15:04] {dino} thought you ment monica
[15:04] {Threei}  lol
[15:04] {Threei}  (US) Retailers send letter to Obama to take action to prevent strike; concerned may impact sales at holiday season - CNBC
[15:04] {Threei}  uhhu
[15:06] {Threei}  my prognosis: Dec 5 italians take Coliseum apart, stone by stone
[15:06] {Threei}  (IT) Italy PM Monti due to detail austerity measures on Dec 4
[15:28] {dino} mmyt sm l .65
[15:31] {dino} sam spike
[15:32] {RonS} little slow 3i, but does that mean on 12/4 italy will get the full monti?...
[15:32] {patience} very good ron
[15:33] {Threei}  clap clap
[15:33] {Threei}  and hey... slow is good
[15:33] {RonS} clap...
[15:33] {RonS} NFLX just popped on a rumor Facebook may aquire
[15:35] {RonS} Netflix may be acquired by Facebook, CNBC's Greenberg speculates
[15:37] {dino} s .01 sm
[15:39] {dino} cov .41, +.60 ty ron
[15:39] {RonS} gj could not short
[15:39] {patience} nice
[15:40] {dino} ty
[15:48] {RonS} lol...from greenberg:  If people are genuinely bidding up $NFLX on my silly prediction that tells u all u need to know abt this market!
[15:48] {Threei}  if we finish about here, the size of the drop and volume are unimpressive; in absence of new news rally continuation is likely
[15:49] {swill} thanks vad. and thanks ron for the humor
[15:50] {dino} out mmyt .60 ave -.05
[15:53] {Threei}  humor?
[15:53] {Threei}  swill... you made my day
[15:53] {Threei}  week
[15:54] {Threei}  barely 1% of population recognizes what I say as humor
[15:54] {dino} think he thanked ron for humor
[15:54] {Threei}  ok guys, thank you all
[15:54] {Threei}  I know dino, I just tried to intercept the credit
[15:54] {Threei}  it's my only chance
[15:54] {swill} lol
[15:54] {RonS} rotflol
[15:54] {dino} ahhh, yes
[15:55] {larisa} bye :)
[15:55] {Threei}  that's how recognition-deprived I am in that department :)
[15:55] {patience} thanks vad
[15:55] {Threei}  see you all tomorrow
[15:55] {swill} the bacon was funny