Friday, December 16, 2011

Dec 16 2011

ATTENTION: new course on chart patterns is available now:

Perfect end to a perfect week. 7 wins out of 8 calls, with every day of the week at the same or better percentage. We are having our own private Christmas rally, it seems.

Session Time: Fri Dec 16 00:00:00 2011
[09:09] {dino} gm all
[09:10] {Threei}  morning dino
[09:10] {RonS} hi y'all
[09:10] {Threei}  ron
[09:11] {RonS} dino, inhx smacked over vrus amending a trial of hep c drug that supposedly is chemically similar to inhx drug
[09:13] {RonS} DB's robyn karnauskas trying to defend $INHX. There are differences and similarities between INX 189 and VRUS 938.
[09:13] {JK13} gm everyone
[09:14] {Threei}  jk :)
[09:19] {dino} ok ron
[09:19] {dino} inhx filling gaps
[09:19] {dino} big one at 4.20s
[09:23] {Threei}  you know those bad dreams where you can see a disaster aapproaching but can move only very slowly, obviously not rapidly enough to avoid it, and it's closer and closer?
[09:23] {Threei}  if you can handle one in real life, look no futher than RIMM long term chart
[09:30] {Threei}  (US) US Tsy official: US does not want to seek additional funding from IMF- IMF cannot substitute a credible European firewall
[09:32] {Threei} Short Setup: FCX  .45 break half lot
[09:33] {Threei}  if stays under .55
[09:33] {Threei}  target 1:2
[09:33] {Threei}  1:1
[09:34] {Threei}  stop .51
[09:34] {Threei}  .46 now
[09:34] {Threei}  1:2
[09:34] {dino} cov fcx .27, +.17
[09:34] {dino} ty
[09:34] {Threei}  welcome
[09:35] {JK13} ty +.19
[09:35] {Threei}  :)
[09:35] {Threei} Short Setup: SLW  .70 break
[09:35] {Threei}  half lot
[09:36] {Threei}  if goes above .80 will seek another entry
[09:38] {Threei} Short Setup: RIMM  .50 break
[09:38] {Threei}  if stays under .60
[09:39] {Threei}  target 1:3
[09:39] {Threei}  classic short formaion, right from the course pages
[09:40] {Threei}  1:1
[09:41] {Threei}  1:2
[09:41] {dino} cov rimm ..34, +.14 ty vad
[09:41] {Threei}  welcome sir
[09:42] {Threei}  who names the formation that served as a foundation for the call?
[09:42] {JK13} I couldn't short - restricted
[09:42] {Threei}  yeah, RIMM shares are likely to become hard to borrow
[09:43] {pragmatic} double top ?
[09:44] {Threei}  yup
[09:44] {Threei}  and the bounce?
[09:44] {Threei}  or you haven't come to that setup yet
[09:44] {pragmatic} hammer
[09:44] {Threei}  kangaroo tail
[09:44] {pragmatic} right
[09:44] {Threei}  aka morning star
[09:45] {Threei}  now, who couldn't identify those on the chart - go read the course!
[09:48] {Threei} Short Setup: SLW  .75
[09:48] {Threei}  if stays under .85
[09:48] {dino} inhx sm l .52 pulp
[09:50] {Threei}  invalidated
[09:51] {dino} out inhx .82, +.30
[09:51] {Threei}  wtg
[09:51] {dino} ty
[09:54] {Threei} Short Setup: RIMM  .50 break
[09:54] {Threei}  if stays under .55
[09:55] {Threei}  probably just a scalp this time
[09:56] {Threei}  uh, no shares for me either this time
[10:01] {Threei}  funny symbol... GNOM
[10:01] {Threei}  chart looks accordingly
[10:03] {Threei} Long Setup:  FCX  .45 break
[10:03] {Threei}  if stays above .35
[10:06] {Threei}  (EU) Draft of new EU fiscal agreement indicates that the new treaty should be fully compatible with existing EU treaties and the case law of the European Court of Justice - financial press
[10:06] {Threei}  - Fiscal Compact to enter into force after nine countries ratify; Agreement to only apply to countries once they ratify it and not binding before
[10:06] {Threei}  - New agreement indicates that primary budget deficits must not exceed 0.5% of GDP over the economic cycle.
[10:06] {Threei}  - Member states can be taken to the European Court of Justice if they fail to meet targets in the new fiscal agreement.
[10:06] {Threei}  - Major economic reforms within the euro zone to be coordinated witlh all EU-27 members
[10:06] {Threei}  - All EU members will be kept closely informed on preperation and outcome of Leader Summit meeting
[10:06] {Threei}  my target 1:3
[10:07] {Threei}  1:2 should be easy, next step is questionable
[10:08] {Threei}  feel free to cover RIMM here who got it
[10:09] {Threei}  FCX 1:1
[10:09] {dino} out fcx .60, +.14 ty vad
[10:09] {Threei}  :)
[10:14] {dino} sina sm l .53
[10:15] {dino} out sina .93, +.40
[10:15] {dino} too soon
[10:15] {Threei}  nice anyway
[10:15] {Threei}  1:2 FCX
[10:15] {dino} pins and needles trading
[10:24] {Threei} Short Setup: LVS  .80 break
[10:25] {Threei}  stop above .90
[10:25] {Threei} Short Setup: FCX  .70 break
[10:25] {Threei}  LVS 1:1
[10:26] {Threei}  FCX stop .76
[10:27] {Threei}  LVS 1:2, out
[10:29] {Threei}  capitalism at work:
[10:29] {Threei}
[10:30] {Threei}  why do you think ese, patience and swill are not here? they are standing in line to fill up their tanks
[10:35] {Threei}  ahha... ese is back from the gas line
[10:35] {Threei}  I don't know where to put FCX
[10:35] {ese} Hi all just poppin in to say hi....have a show in 1 hr so see ya all monday
[10:35] {Threei}  on one hand it was formally at 1:1
[10:35] {Threei}  on another, I haven't covered there, and got stopped
[10:35] {Threei}  hi ese
[10:36] {dino}  fcx stop -.07
[10:36] {Threei}  too bad.. good trading days
[10:36] {ese} whats up with gas vad?
[10:36] {Threei}  yeah, counting it as a stop, not to nger trading godsa
[10:36] {Threei}  under a dollar ese
[10:36] {Threei}  price war between costco and chevron
[10:37] {ese} and speaking of whats up......we had no internet connection yesterday here until about 9:30 about you.....TELUS went on the fritz
[10:37] {Threei}  5/6 this morning
[10:37] {Threei}  ok here
[10:38] {Threei}  had some brief outages Monday morning but it was planned, Shaw was upgrading something
[10:38] {ese} it apparently affected most of victoria
[10:38] {ese} was patience connected?
[10:39] {Threei}  yes but she is on Shaw
[10:39] {ese} ahhhhhhhhh
[10:39] {ese} us poor telus saps got nailed
[10:39] {Threei}  I dunno why you stick with them , shaw is more reliiable
[10:40] {ese} anywho........cya monday.....the nightmare weeks are over.....last 3 shows this morning tonight ...tomorrow night and done......DRINKIN TIME!!!!!!!!1
[10:40] {Threei}  take care ese :)
[10:41] {ese} have a great day
[10:41] {Threei}  ok, patience filled up her tank too...
[10:41] {Threei}  swill's turn
[10:41] {ese} does swill live on the island somewhere
[10:41] {Threei}  yes
[10:41] {ese} nice.......our area?
[10:41] {Threei}  yup
[10:42] {ese} cool....cya
[10:42] {Threei}  oh, and remember rabler?
[10:42] {Threei}  another islander, about to return after hiatus
[10:42] {Threei}  rambler
[10:56] {RonS} ...get ready...
[10:56] {RonS} 3 min to znga open
[10:57] {Threei}  ok... I finally get my chance to ask
[10:57] {Threei}  what do they do??
[10:57] {RonS} online gaming...farmville et al...
[10:58] {RonS} don't understand it here so has to be good...
[10:58] {Threei}  lol... I am right there qwith you
[11:00] {RonS} darn...znga open pushed back 5 min
[11:03] {Threei} Short Setup: SLW  .90 break
[11:04] {Threei}  if stays under 29
[11:04] {Threei}  here comes ZNGA
[11:07] {Threei}  heh
[11:07] {Threei}  (EU) Fed's Dudley: Europe's problems are largely political, Europe has the fiscal capacity to solve its own problems- Europe is not facing either fiscal or insolvancy problems. - Does not anticipate a Euro break up
[11:07] {Threei}  wanna bet Dudley?
[11:07] {Threei}  wrong on all three counts
[11:08] {Threei}  (US) House Speaker Boehner (R-OH): Pledges to attach a Keystone Pipeline rider to any two-month payroll tax extension- States that the GOP wants to speed up implementation of the Keystone Pipeline.
[11:09] {Threei}  I am yet to hear any sensible explanation by WH why they postpone it
[11:09] {dino} obama re-election after the greens
[11:10] {Threei}  no, I understand their motives
[11:10] {Threei}  I just don't understand how they justify it
[11:10] {dino} he's the king
[11:10] {dino} no justification needed
[11:11] {Threei}  it's not like they come out openly saying "we want green voktes, so we will pretend we are not approving it until after election"
[11:11] {dino} but that is ideed what os happening
[11:13] {Threei}  ZNGA is not too hot
[11:14] {Threei}  under IPO price
[11:17] {Threei}  come on SLW, don't ruin our great record
[11:19] {RonS} "congress to cut farmville subsidies"
[11:23] {RonS} lol...znga bounces off 200 millisecond average
[11:23] {dino} lol
[11:26] {Threei}  lol
[11:26] {RonS} lol..."znga could pull a tebow (you knew that was coming)"
[11:26] {dino} cvc sm l .90
[11:28] {Threei}  out SLW
[11:28] {dino} you have to hand it to tebow, he's taking a lot of grief but he keps winning
[11:28] {Threei}  6/7
[11:28] {dino} gj
[11:28] {Threei}  ty
[11:28] {RonS} lol...WTF? I just checked my Farmville farm on $ZNGA & all my cows are missing! Is Pincus running this, or Corzine?
[11:29] {dino} friend of "o"
[11:30] {RonS} ...if tebow beats the pats they will talking about him in moscow
[11:32] {dino} as a jet fan, i hope he does
[11:33] {Threei}  I am too lazy to look at all the days of this week and have too short memory span to remember, but it feels like a very good week, especially conasidering the market we have
[11:34] {Threei}  ok, it's not like I am too busy right now... let's see:
[11:34] {Threei}  Mon, 6 calls, 5 wins
[11:34] {Threei}  Tue, 1 scratch, the rest are wins, haven't counted them
[11:35] {Threei}  Wen, 7 calls, 6 wins
[11:35] {Threei}  Thu, 7 out of 7
[11:35] {Threei}  man... lewt me go home already
[11:37] {JK13} I think you are home:)
[11:37] {dino} you trying to spell newt? lol'
[11:38] {Threei}  rofl
[11:38] {Threei}  but jk... there is this commute from bedroom to office...
[11:39] {Threei}  with side trip to kitchen to make coffee
[11:39] {JK13} you can use some transportation
[11:40] {Threei}  certainly
[11:40] {Threei}  good thing gas price dropped to under a buck
[11:48] {dino} knsy vsm l .75
[11:54] {dino} no good working my way out of it
[11:55] {Threei}  UK) UK Deputy PM Clegg: France's comments about the UK are unacceptible
[11:55] {Threei}  ***Note that French finance minister Baroin earlier stated that the French economy was in better shape than the UK economy. "It is true that the economic situation in Britain is very worrying today and one prefers to be French than British at the moment on the economic level," said Baroin.
[11:58] {Threei}  seems we are about to get end of week panic
[11:59] {Threei}  let's see if we can catch TZA pullback
[12:02] {Threei}  29.10 zone
[12:02] {dino} dji red
[12:06] {Threei}  getting ready
[12:10] {Threei}  ideally, it dives under .10, holds above 29, then recrosses .10 for a trigger
[12:14] {Threei}  1:1
[12:15] {Threei}  fish in a barrel
[12:23] {Threei}  a trade that would have worked twice
[12:32] {Threei}  (EU) German magazine Spiegel examines some of the legal technicalities that could put up roadblocks to Germany adopting the newly proposed economic union treaty
[12:32] {Threei}  here comes our panic
[12:37] {dino}  amazing how after all this time some word can still drop us like a dead cat
[12:38] {Threei}  to me, it indicates there is a lot of downside potential still
[12:39] {Threei}  plenty of longs that are still hopeful and that jump out when danger becomes more apparent
[12:40] {dino} have to say you are right. when this news does not affect, then pattern changes
[12:40] {Threei}  right
[12:41] {Threei}  now, this is hillarious:
[12:41] {Threei}  (EU) ECB's Orphanides: Not enough attention was paid to national differences
[12:42] {Threei}  really? for years we were hrping about what huge factor it is
[12:42] {Threei}  and you, architects of the whole thing, haven't seen it?
[12:45] {Threei}  short whatever
[12:45] {Threei}  except TZA
[12:46] {RonS} good weekend to to annual festivus lunch with friends
[12:46] {RonS} ...we so enjoy the "airing of grievances"
[12:47] {Threei}  take care ron, have a good one
[12:53] {Threei}  lol... fetivus
[12:53] {Threei}  still giggling
[12:58] {Threei}  (US) Fed Fisher: Fed has provided too much liquidity into the system; Fed has done all it can to lower unemployment without risking inflation
[12:58] {Threei}  - Opposed more easing not because of inflation concerns but because he did not think it would help jobs.
[12:58] {Threei}  - US economic outlook is improving but Europe and emerging economies risk taking it off course.
[12:58] {Threei}  - EU measures to address crisis are not complete.
[14:00] {dino} fslr sm l .60
[14:06] {dino} cvc to .15
[14:07] {dino} to .20
[14:07] {dino} out +.30
[14:07] {Threei}  wtg
[14:07] {dino} ty took awhile
[14:07] {dino} fslr to flat
[14:08] {dino} out
[14:17] {dino} ugh cvc
[14:29] {Threei}  breakdown or not
[14:33] {Threei}  not yet
[14:33] {Threei}  but watching
[14:33] {Threei}  maybe we wioll hook one more before retreating for the weekend
[14:42] {JK13} Vad what do you think of slw?
[14:43] {Threei}  locked in such narrow range, it won't do anything by itself
[14:43] {Threei}  if market makes a strong move, SLW is likley to follow but in a muted fashion
[14:44] {Threei}  FCX should follow better
[15:03] {Threei}  total jellyfishiness
[15:07] {dino} live drop
[15:08] {Threei}  without capitaks, I can't tell: LIVE dropped, or DROP went live?
[15:09] {dino} live
[15:12] {Threei}  sigh... good thing Ron is not here.. he would have lost faith in my ability to make a joke forever
[15:19] {dino} was too tight on fslr, thing went .60
[15:19] {dino} =
[15:19] {dino} +
[15:33] {Threei}  absolutely no direction
[15:33] {Threei}  you know what... let's call it a day and a week
[15:33] {Threei}  very good day ending very good week
[15:33] {Threei}  we desrevd a great weekend
[15:33] {Threei}  thank you all, get a good rest and see you all on Monday