Feb 10 2012

Not as stellar as the rest of the week but still positive day, putting a final touch on the week with no losing days. 

Session Time: Fri Feb 10 00:00:00 2012

[08:53] {Les} morning. We finally gonna get a decent sell off today, or is the damage already done?

[08:53] {Threei}  hi Les

[08:53] {Threei}  who knows

[08:53] {Threei}  expect me to read the future?

[08:53] {Les} your feelings on market here?

[08:54] {Threei}  providing there are no more headlines, iniial selloff, then recover to about half of the gap, resumed selling into eod

[08:57] {Threei}  my sense is, it's not the end of musical chairs itself yet

[08:57] {Threei}  it's a preview, practice

[08:57] {Threei}  they still will forge some kind of half-hearted agreement

[08:58] {nemo}  nah,  even the pimco guy said last night this agreement would have only been good for a few months

[08:58] {Threei}  not because they have a will to resolve situation for real, they can't

[08:58] {Threei}  right

[08:58] {Threei}  but simply because at this point they don't want to be seen as giving up without heroic fight

[08:59] {Threei}  so they'll imitate that heroic effort in epic battle

[08:59] {Les} as only politicians can

[08:59] {Threei}  meanwhile throwing ball over the net in hope to make the other guy look guilty

[08:59] {Threei}  well... why do you blame them for that? Isn't it what they are elcted to do? :)

[09:00] {Threei}  Fitch said Greece needs a deal within days to prevent disorderly default

[09:01] {Threei}  which is not so thinly vealed threat to announce the default

[09:01] {Threei}  which I doubt Fitch will do

[09:01] {nemo} I kinda' enjoy chaos and suffering

[09:01] {Threei}  yeah, considering that it's self-inflicted, lol

[09:02] {nemo} see CIE?

[09:03] {Les} what's the story on it?

[09:03] {nemo} don't know, just woke up

[09:03] {Threei}  Cobalt Energy Cobalt International Energy, Inc. Announces Successful Pre-Salt Flow Test Offshore Angola (update)- Cobalt International Energ provided additional data confirming the significance of its Cameia Pre-salt oil discovery in Block 21 offshore Angola.

[09:03] {Les} monster oil well

[09:04] {Les} yeh right, sounds like an opening short for me

[09:04] {nemo} off of Angola...that's dependable

[09:05] {Threei}  shadows of Bre-X?

[09:05] {Threei}  will we see geologists falling out of helicopters?

[09:05] {Threei}  (GR) Greece LAOS party ministers said to have offered resignations from coalition Govt to PM Papademos ahead of scheduled Cabinet meeting - financial press

[09:05] {Threei}  **Reminder: Earlier in the session LAOS party chief Karatzaferis commented that he requested a cabinet reshuffle.

[09:05] {Les} reshuffle all you want Karatzaferis..

[09:06] {Les} chairs on the titanic

[09:06] {Threei}  because you know, it's very important to rearrange chairs on the deck

[09:06] {Threei}  :)

[09:06] {Threei}  sure, Titanic did have somewhat rough crossing

[09:06] {Threei}  but chairs were arranged neatly

[09:08] {nemo} common greeks are gonna' take it greek anyway.  They think not taking the deal will make it better.  Then they'll have to go back to the, whatever it was, and basically end up in the same position...all fours, no lubricant

[09:09] {Threei}  EU finance ministers failed to approve the �3.3B austerity package upon which the Greek government had agreed. Aside from demanding further cuts in the amount of �325M, the EU leaders also want political commitment to implement those measures after April election.

[09:09] {Threei}  This last part is funny, actually. "Yes, I promise that whoever is elected to replace me in two month is going to keep my promise."

[09:10] {MigC}  good morning

[09:10] {nemo} Ugh...

[09:12] {Threei}  Migc :)

[09:14] {Threei}  I want to see dino's face when he sees CIE

[09:19] {dino} gm

[09:19] {Threei}  dino :)

[09:22] {RonS} gm  dino look gsvc...

[09:22] {Threei}  ron :)

[09:23] {RonS} You $GSVC bulls do know that they priced another 3 million shares @ $15 in addition to last night's 3 million. Trippled the float overnight

[09:26] {dino} major facebook owner

[09:27] {RonS} heard their largest position is actually twitter

[09:28] {_rahulprakash1} hello

[09:28] {Threei}  rahul :)

[09:28] {Threei}  sitting out first few minutes, want dust to settle

[09:29] {Threei}  watching usual suspects

[09:30] {Threei}  FCX for bounce

[09:31] {Threei}  LVS for don't know what yet

[09:31] {Threei} Long Setup:  FCX  .80 break half lot

[09:31] {Threei}  invalidated

[09:32] {Threei}  .65 break trigger now

[09:32] {nemo} might return to breakout area around 44

[09:32] {Threei}  stop under .55

[09:32] {Threei}  target .95

[09:32] {Threei}  1:1

[09:33] {Threei}  stop to .59

[09:33] {Threei}  1:2

[09:34] {Threei}  stop to .69

[09:34] {Threei}  to .75

[09:35] {Threei}  1:3 target hit

[09:35] {Threei}  out

[09:37] {_mark1} very nice three

[09:37] {Threei}  ty

[09:37] {nemo} don't ask Vad

[09:37] {Threei}  I know...

[09:38] {Threei} Short Setup: LVS  .52 break

[09:38] {Threei}  half lot

[09:38] {Threei}  if stays under .15

[09:39] {nemo} hah, I"m long at .02

[09:39] {Threei}  invalidated

[09:39] {Threei}  one doesn't negate the other, loss of 52 would not be good for that long

[09:39] {nemo} not disagreeing, it's my stop

[09:40] {nemo} well, .15 is now

[09:41] {nemo} spy touched weekly r1

[09:44] {Threei} Short Setup: FCX  .15 break

[09:45] {Threei}  if stays under .25

[09:45] {Threei}  target 1:2

[09:46] {nemo} spy iwm at trend, looks like dip buyers still in force

[09:47] {Threei}  ugh... LVS .35 break short, missed

[09:47] {Threei}  see the doji?

[09:47] {Threei}  pure beauty, .35 - .45

[09:47] {nemo} yeah, I was out last piece under .30

[09:48] {Threei}  copied from 11 Trades pages

[09:48] {nemo} what's that, the abridged edition?

[09:48] {Threei}  let's scratch FCX

[09:48] {Threei}  lol

[09:50] {Threei} Long Setup:  SLW  .15

[09:51] {Threei}  stop under .05 scalpers

[09:51] {Threei}  35 day traders

[09:53] {Threei}  stop to .09

[09:53] {Threei}  minimizing risk

[09:54] {Threei}  scalpers 1:1

[09:55] {Les} SLV tanking

[09:55] {Threei}  yeah

[09:55] {Threei}  stop to .14

[09:56] {dino} qcor l .00

[09:56] {Threei}  out

[09:57] {Les} grabbed .05 thanks. Had to take delivery of a case of wine :)

[09:57] {Threei}  lol

[09:57] {dino} too soom qcor, stop is .74

[09:58] {Les} RIMM LO

[09:58] {Les} sorry RIMM is really weak

[09:58] {dino} mon sm l .50

[09:59] {Les} fdx bounce?

[09:59] {Les} 94 break?

[10:00] {Threei}  I doubt SPY will support it

[10:00] {Les} noticed bearish TRAN divergence from INDU this morning

[10:00] {Threei}  feels like more selling is about to hit

[10:00] {Les} wow BIIB breakdown here

[10:01] {Les} ?

[10:01] {Les} gappy but beautiful DBI setup

[10:01] {Threei}  trades by appointment...

[10:02] {nemo} and your at breakout level on  the hourly

[10:02] {Les} support kicking in, ok

[10:02] {Threei} Long Setup:  FCX  .85 break

[10:03] {Threei}  if stays above .75

[10:03] {nemo} .65 S3 support

[10:03] {Threei}  here comes that SPY selling

[10:04] {Threei}  either will invalidate this FCX setup, or it turns into salmon

[10:04] {Les} and there goes FDX

[10:04] {Threei}  yup

[10:04] {Threei}  no go FCX

[10:05] {Threei}  (US) President Obama schedules statement for 12:15ET

[10:05] {Threei}  about what?

[10:05] {nemo} so, short at 12:14

[10:05] {Threei}  "you all are stupid, I am not playing with you anymore"?

[10:06] {RonS} qotd:  Turns out there were false profits at True Religion

[10:07] {Threei}  lol

[10:07] {Threei}  ok, this one officially made my day:

[10:08] {Threei}  Santorum surges from behind. If condition persists, call a doctor.

[10:08] {RonS} rotflol

[10:09] {dino} simo sm l .50

[10:09] {Threei} Short Setup: FCX  .60 break

[10:09] {dino} qcom stop

[10:09] {Threei}  still half lot

[10:09] {Threei}  if stays under ,70

[10:10] {Threei}  invalidated

[10:12] {dino} qcor sm l .70

[10:15] {Threei} Short Setup: FCX  .80 break

[10:15] {Threei}  if stays under .90

[10:16] {Threei}  no go

[10:17] {Threei}  opening was much more clear, gets a bit muddy now

[10:17] {nemo} yeah, not sure what they want to do going into the weekend with the Greece shenanigans

[10:18] {Threei}  my suggestion:

[10:18] {nemo} bomb greece

[10:18] {Threei}  lol

[10:18] {Threei}  we had fantastic week, with 4 solid days of profit,

[10:19] {Threei}  today is still profitable,

[10:19] {Threei}  but last couple trades were questionable.

[10:19] {Threei}  let's manage today with half lot trades,

[10:19] {Threei}  not to let nervous Fri shake us too much

[10:20] {Les} SPY and Q's test VWAP here

[10:20] {Threei}  FDX is back into resistance

[10:20] {Threei}  watching for short

[10:20] {Threei}  most likely, let it break 94

[10:21] {Threei}  then consolidate a little anfd recross back down

[10:21] {Threei}  that'll be our short trigger

[10:21] {Threei} Short Setup: FDX  04 break

[10:21] {Threei}  04

[10:21] {Threei}  94, jeez

[10:22] {Threei}  stop above .10

[10:24] {Threei}  target 1:2

[10:25] {Threei}  market spikes, FDX stays down... so far so good but need SPY to reverse and help

[10:26] {Threei}  good

[10:26] {nemo} look at that LII action

[10:26] {Threei}  one more red candle by SPY and we are there

[10:29] {Threei}  need some violence or what

[10:30] {Threei}  let's trail stop to .06

[10:30] {Threei}  time ti minimize risk

[10:30] {Threei}  1:1, half out

[10:31] {Threei}  stop to .01 for the balance

[10:31] {Threei}  scalpers are of course out and laughing

[10:32] {Les} POT VAd

[10:32] {Threei} Short Setup: LVS  52 break

[10:32] {Les} .93 b/d?

[10:33] {Threei}  if stays under .10

[10:33] {Threei}  looks good to me les

[10:33] {Threei}  if stays under 45

[10:34] {Threei}  FDX, scalpers win

[10:36] {Threei}  LVS, most likely's good for more than scalp, but can't tell with a lot of confidence

[10:36] {Threei}  personal decision

[10:37] {Threei}  POT if you went for it, should be good fo about .65 - .70

[10:38] {Les} no, spiked through 45

[10:38] {Threei}  reconsolidated after that again...

[10:38] {Threei}  discretionary

[10:38] {Les} ok

[10:39] {Threei}  after invalidation they sometimes reestablish setup

[10:39] {Threei}  LVS stop to .06

[10:40] {Threei}  to insure ourselves from double bottom here

[10:41] {cipher} l ibm .55

[10:41] {Threei}  market spike... no news

[10:42] {cipher} out .72 +.17

[10:43] {Threei}  wtg

[10:46] {dino} gut feel on markets 3i?

[10:47] {Threei}  nervous, jerky and waiting for the next headline

[10:47] {RonS} pbr blood

[10:47] {Threei}  out LVS

[10:47] {Les} I frikin hate it. taking a break

[10:47] {nemo} today clear as mud

[10:47] {_mark1} cie falling hard here

[10:48] {Threei}  it's very much like near the end of the music chairs game

[10:48] {Threei}  everyoen is very tense and tries to stay ckose to the nearest chair,

[10:48] {Threei}  if have to run to the next one, tries to run as fast as possible

[10:48] {Threei}  and listen tensely to catch any sign of music stopping

[10:49] {dino} hmmm, feels like lod are in, now up

[10:49] {nemo} holding trend on iwm and spy

[10:53] {dino} ntgr sm l .02

[11:03] {Threei} Long Setup:  CREE  .90 break

[11:03] {Threei}  if stays above .80

[11:04] {dino} pbr sm l .53

[11:05] {dino} 07 green

[11:05] {dino} rally coming

[11:07] {Threei}  LNKD sure thinks so

[11:07] {cipher} l ibm .73

[11:12] {nemo} IWM at weekly pivot

[11:13] {Threei}  a lot of hesitance

[11:13] {Threei}  lately when hesitant, market usually resolved to the upside

[11:13] {nemo} IWM is risk on, and it's at weekly, this Greek thing may limit it's run

[11:14] {Threei}  not sure about today though, going into weekend with all the Greek hoopla

[11:14] {nemo} What I just say

[11:14] {nemo} ?

[11:14] {Threei}  it annoyed the heck out of everyone, but still, can't just dismiss it

[11:14] {Threei}  I don't know, I typed at the moment

[11:15] {cipher} cie lower

[11:15] {nemo} next support 31.80

[11:16] {RonS} Greek deputy foreign minister Xenogiannakopoulou resigns over austerity demands

[11:16] {RonS} ...but you can call him X for short...

[11:18] {vijay} is CREE still on Vad?

[11:19] {Les} I'm out -.04 back for the close

[11:20] {RonS} NORTH KOREA - there are UNCONFIRMED reports circulating that KimJongUn may have died - apparently a lot of activity around North Korean embassy in Beijing. I REPEAT ...***UNVERIFIED***

[11:21] {Threei}  yes vijay

[11:22] {vijay} thank u sir

[11:24] {dino} is that the 20 something new leader?

[11:24] {RonS} yes

[11:25] {dino} a coup perhaps

[11:25] {nemo} kinda' thought that might happen

[11:25] {Threei}  nothing on my news feed

[11:25] {cipher} cie touched the support 

[11:25] {dino} or is coupe?

[11:25] {RonS} or he ate too much chocolate

[11:25] {cipher} in @ 85

[11:27] {Threei}  cipher, just make sure you have good supply of fresh diapers handy for CIE {G}

[11:28] {cipher} out .37 +.52

[11:28] {cipher} jumpy

[11:28] {Threei}  wtg

[11:28] {cipher} thx nemo for dead on support level

[11:28] {nemo} yw

[11:29] {Threei}  market is still jerky

[11:29] {nemo} takes after me

[11:30] {Les} he said jerky not jerk

[11:30] {nemo} oh

[11:35] {dino} cree stop -.11

[11:38] {Threei}  trading jabs with market today eh

[11:44] {nemo} shrot cie .80

[11:44] {nemo} partial .55

[11:44] {nemo} stop .80

[11:45] {nemo} target 30.40

[11:45] {nemo} adding below 

[11:45] {nemo} yep

[11:46] {nemo} too fast to get in then it was back up

[11:47] {nemo} this should do it if it drops

[11:47] {nemo} stop to .55

[11:48] {nemo} there out to get me

[11:49] {nemo} well, that's snatching defeat from the jaws of victory

[11:49] {nemo} maybe reshort .75 area

[11:52] {_mark1} nemo you must have that one close keep me up to date

[11:52] {nemo} what cie?

[11:53] {nemo} didn't quite get to where I wanted to reshort

[11:53] {_mark1} yes

[11:53] {_mark1} its been drifting lower i got smacked with a short hate me admit it on the only big up

[11:54] {nemo} lower probability but short here see volume?

[11:54] {nemo} could be long back to resistance, I'm not clear on this puppy, you're about equi distant to resistance as support

[11:54] {_mark1} spy is wiggling up a little

[11:54] {nemo} but high volume previous candle, so go long or short whichever way it breaks

[11:54] {nemo} yep

[11:55] {nemo} but this is a breakout stock, has own mind today...not yet salmon

[11:55] {_mark1} lol

[11:55] {nemo} oh...not up on Vadspeak, huh?

[12:02] {nemo} cie groke trend after bouncing off 50% retraement

[12:02] {nemo} broke

[12:02] {nemo} retracement

[12:02] {nemo} sheesh

[12:02] {nemo} Vad's fault

[12:02] {_mark1} yea

[12:03] {Threei}  why not

[12:03] {nemo} ;)

[12:03] {dino} crr sm l .74

[12:06] {thomcbell} fcx bad action

[12:07] {Threei}  looks to me a short

[12:07] {Threei}  on 45 break

[12:07] {Threei} Short Setup: FCX  45 break

[12:08] {nemo} mmmhhh computers not letting the bids get hit in cie

[12:08] {Threei}  hmm?

[12:08] {Threei}  how can they do that?

[12:08] {nemo} the fractional white numbers

[12:09] {nemo} they putting bids inside markeet

[12:09] {nemo} market

[12:09] {nemo} let it drop this time

[12:09] {Threei}  wierd way to put things :)

[12:09] {dino} crr stop

[12:09] {nemo} who you talking too?

[12:10] {Threei}  you... I said "weird" didn't I

[12:10] {nemo} no...you said "wierd"

[12:10] {Threei}  sasme thing, with accent

[12:10] {nemo} frickin' foreigners

[12:11] {Threei}  if they put higher bid, they simply let you hot higher bid...

[12:11] {Threei}  hit

[12:11] {nemo} see those finr transactions?  dark pool hft

[12:11] {Threei}  "not letting bids get hit" is a strange way to word it

[12:11] {nemo} fractionals

[12:11] {nemo} sorry

[12:11] {Threei}  so?

[12:12] {nemo} inserting their bid in fractions above whole bids

[12:12] {Threei}  someone wsants better price

[12:12] {nemo} or offers

[12:12] {Threei}  yes

[12:12] {nemo} the machines are testing support and resistance

[12:12] {Threei}  I see prints you mention, I just can't see the conclusion from it

[12:12] {Threei}  the machinces try to get better price

[12:12] {Threei}  machines too

[12:13] {Threei}  or people

[12:13] {nemo} I understand

[12:14] {Threei}  I may be oversentsitive to these comments, simp,ly becausr therre is so much BS floating all over internet when it comes to algos, hft etc

[12:16] {Threei}  listen to what cheap self-promoters trying to use popular anger say, you would hink it beame impossible to make any market in the marjet unless you are a machine

[12:16] {Threei}  1:1

[12:17] {nemo} I never said that...yourshowing your oversensitive feminine side

06[12:17] * Threei slaps nemo around a bit with a large trout

[12:17] {Threei}  feminine this

[12:17] {nemo} ROTFLMFAO

[12:17] {nemo} !!!!!!!!!!!!!!!!!

[12:18] {Threei}  guess who is on tv

[12:18] {Threei}  damage control

[12:18] {nemo} talking about contraception

[12:18] {nemo} wish his parents had used it

[12:18] {Threei}  yesh, gotta fix that misstep with catolic vote

[12:20] {nemo} anyway, whenever I see those fractional transactions I pay attention especially at levels of support and resistance

[12:20] {nemo} And you know how hard it is for me to pay attention

[12:30] {Threei}  closed FCX at 1:2

[12:31] {Threei}  in that trtading jabs we are still ahead

[12:31] {nemo} lunchtime on a Friday

[12:31] {Threei}  and yet

[12:42] {Threei}  be back in 30

[12:43] {nemo} did I tell you they're starting to charge for orders in the currency markets?

[12:50] {_mark1} is fcx a short here?

[12:52] {RonS} ZNGA + Hasbro CEO coming up next on CNBC to talk about tie up with ZNGA - per sue Herrar CNBC

[12:52] {nemo} it's riding vwap at lunch, smack in the middle of it's range.  This is the perfect time to get jacked by hft...could work, but there's an old adage, "Never short a dull market."  Lunchtimes are dull, it's a Friday...small and tight if you're going to do it...imo

[12:53] {nemo} for Vad: http://articles.latimes.com/2012/feb/08/news/la-heb-bacon-milkshake-jack-in-the-box-20120208

[12:54] {_mark1} tysm

[12:55] {nemo} I might be overthinking it, but see how the market has been strenghthening all day?

[12:56] {Les} yeh the grind up doesn't interest me. Wanna see how it shapes up into close

[12:56] {nemo} one could actually look at it as a bull flag if we get a market run.

[12:57] {nemo} like now

[12:57] {RonS} nemo, used to go to jack sometimes when in LA...most wickedly delicious menu this side of carl's jr...

[12:57] {nemo} I gave up junk food...I drink enough alcohol to pickle me...don't need the additional embalming

[12:57] {Les} yeh, as Vad remarked, being a practice run, we might not even get a selloff. Will wait and see

[12:59] {nemo} looks like we're going higher still

[13:03] {Les} ROC on $INDU daily (stockcharts.com) about to turn negative. Index getting very close to selling off. EoD will be important

[13:04] {nemo} maybe, major support at 134.26 and it's still holding trend...it's been stepping higher consolidating stepping higher

[13:05] {Threei}  back

[13:06] {dino} front

[13:07] {nemo} Vad must be Greek

[13:07] {Threei}  sigh

[13:10] {Threei}  "This is the perfect time to get jacked by hft"

[13:10] {Threei}  you must have decided to get ion my nerve today :)

[13:10] {nemo} no, dull markets at lunch, the algo's will have a field day

[13:11] {Threei}  so, how about this:

[13:11] {nemo} impatient traders trying to make plays

[13:11] {nemo} they whack you around

[13:11] {Threei}  midday shakeouts are fact of life for as long as I trade

[13:11] {nemo} I agree

[13:11] {Threei}  and HFT was nowhere to be found back ikn 90s

[13:11] {Threei}  or mid 2000s

[13:11] {nemo} having said that, algo's are written to take advantage of those conditions too

[13:12] {Threei}  sowhy does it have to be HFT fault, and not simply thin lunch trading with no follow through on patterns

[13:12] {nemo} why expend monetary and psychological capital against opponents that have no emotions

[13:12] {Threei}  well, you se my ;point that it's not about HFT?

[13:12] {Threei}  they may be programmed for whatever

[13:12] {nemo} Of course

[13:12] {Threei}  but conditions exist independtly

[13:13] {nemo} Just like in nature

[13:13] {nemo} They're just a new predator

[13:13] {Threei}  almost ekkzaqtly

[13:13] {Threei}  to be even more precise:

[13:13] {nemo} newer?

[13:13] {Threei}  they are a new, and better, claw on an old predator

[13:14] {nemo} o.k.  or...a new a better weapon in a hunter's arsenal hehehehehehehe

[13:14] {Threei}  yes

[13:14] {Threei}  sharper

[13:14] {Threei}  faster

[13:14] {Threei}  but hunting habits are the same

[13:14] {nemo} yep

[13:14] {Threei}  that's what all those hft-haters don't get

[13:15] {nemo} I think we're speaking the same, it's just those feminine emotions of your regarding this subject

[13:15] {nemo} sorry

[13:15] {nemo} not really

[13:15] {nemo} as a matter of fact

[13:15] {Threei}  ummm

[13:15] {nemo} not at all

[13:15] {thomcbell} you guys are having way too much fun with this conversation

[13:15] {Threei}  I have to options here

[13:15] {Threei}  two

[13:15] {nemo} learn how to spell is one

[13:15] {Threei}  1. slap you with glass model of AK-47 filled with vodka

[13:16] {Threei}  no, that's not an option

[13:16] {nemo} waste of vodka

[13:16] {nemo} not acceptable

[13:16] {Threei}  2. drink vodka, THEN slap you

[13:16] {thomcbell} STOP

[13:16] {nemo} yeah better

[13:16] {Threei}  ese still can't forget that model, lol

[13:16] {nemo} poor thom, peeing your pants?

[13:16] {thomcbell} hehe

[13:17] {nemo} spy bounce here, but like tna bounce around .60

[13:20] {nemo} my kinda guy: http://thehill.com/blogs/floor-action/house/209927-bill-murray-on-personal-responsibility

[13:20] {nemo} "I think there's only so many people that can take care of themselves, and can take care of other people. And the rest of the people … they're useful in terms of compost for the whole planet, you know."

[13:22] {nemo} if you want to take a flyer tna in this area with a stop under .60

[13:22] {nemo} vwap on tna is .61

[13:22] {Threei}  hmmm

[13:23] {nemo} 134.26 is montly R1 on spy

[13:23] {Threei}  SPY looks very shaky here

[13:23] {nemo} notice the convergence of the two support areas

[13:23] {nemo} Don't disagree...it's a possible setup worth watching

[13:24] {nemo} of course you have that spy bottom at .22, so perhaps look for the drop to those levels, but this is the kind of support I look for between the two..no guarantees

[13:25] {nemo} would like to see a little volume come in here

[13:26] {nemo} you did get a spy volume spike at 134.28

[13:29] {nemo} nope

[13:29] {nemo} so does spy hold this low

[13:29] {nemo} below that is vwap before next setup

[13:33] {nemo} spy at vwap but s2 at .13

[13:33] {nemo} if spy drops .13 area without setting up, look for tna at 59.15

[13:36] {Threei}  oh boy

[13:36] {Threei}  (US) Fed's Bernanke: Lending cannot return to normal until the economy becomes more normal - Q&A

[13:36] {Threei}  - Highlights that the main objective of the Fed's white paper on housing was to inform the public about how important housing was to the overall economic recovery

[13:36] {Threei}  yeah, you have to be a fed chairman for these deep thoughts

[13:36] {nemo} now spy is coming into the whole number and tna/iwm near S2 support

[13:36] {RonS} lol

[13:36] {Threei}  one more leg down, then bounce

[13:37] {Threei}  FCX bounce candiate

[13:37] {Threei}  and TNA

[13:38] {RonS} these guys are idots...the US places too much emphasis on housing...fer chrissakes...

[13:39] {nemo} there ya go, iwm bounces right at S2 and for all intent's and purposes spy at 134...now play long here, or wait for a double bottome formation after that drop...I'll go with the latter.....

[13:39] {nemo} ....and a glass of wine

[13:39] {Threei}  yeah, statement "it all started with housing, so we need to fix hpousing to recover" is often-rep[eated but completely wrong

[13:43] {nemo} http://mashable.com/2012/02/09/dad-shoots-laptop-facebook/

[13:45] {nemo} well doesn't look like I'm getting my double bottom

[13:47] {nemo} I'm going to save that to show it to my nephew

[13:48] {Threei}  you should

[13:48] {Threei}  double bottom I mean

[13:48] {nemo} or higher low

[13:48] {Threei}  around .30

[13:51] {nemo} actually looking at spy, I'm not so sure things don't continue to drop here

[13:51] {nemo} that bounce scalp off support might have been it

[13:54] {nemo} .13-.15 is resistance on spy and .56 on tna

[13:59] {Threei}  OK

[13:59] {Threei}  geting interesting

[13:59] {Threei} Long Setup:  TNA  .20 break

[14:00] {Threei}  stop for scalpers under .10

[14:00] {Threei}  day traders 59

[14:00] {Threei}  scalpers got their

[14:00] {Threei}  s

[14:00] {nemo} awww vad

[14:00] {Threei}  day traders too

[14:12] {Les} TZA

[14:14] {Les} I see you no longer have your uptrend Nemo

[14:15] {nemo} nope

[14:16] {nemo} but, funny thing, IWM holding support so isn't spy

[14:16] {Les} spy bullish divergence in 15 min macd

[14:16] {Les} potential DB

[14:16] {nemo} no man's land right now although, playing tna long here off that volume spike hammer would arguably be the play

[14:16] {Les} yhe TZA ws the trap

[14:17] {nemo} do range play up to .13-.15 on spy, or vwap on tna/iwm

[14:22] {Les} long LVS .70 half shares

[14:26] {Les} looking for 1:2

[14:31] {Threei}  nice

[14:33] {Les} half out 1:1 conversing with Nemo stop .79 noiw

[14:34] {Les} dishes are done maaan...

[14:35] {nemo} such a good wife

[14:35] {Les} Are you joking you old fart!

[14:35] {Les} Christina applegate

[14:35] {nemo} hehehehehe

[14:35] {Les} the babysitter

[14:36] {Les} http://www.imdb.com/title/tt0101757/

[14:36] {Les} my mistake. Don't tell mom the babysitters dead

[14:39] {Les} aaah just had a flashback watching the preview. my mispent youth

[14:42] {nemo} only your youth?

[14:43] {Les} yeh right. I've started hanging out here again

[14:44] {Les} fcx 45. would like to see it break and retest support

[14:47] {Threei}  ROFL

[14:47] {Threei}  Feds Speak for Valentine Day: 'Quantitative Pleasing'

[14:49] {Les} I thought it wasn't size that counted, but how you used it...

[14:50] {nemo} that's what they say to be nice and not hurt your feelings

[14:50] {Les} hehehe

[14:51] {nemo} Hey Vad!  Bunny has gotten really brazen

[14:51] {Threei}  as in?

[14:51] {nemo} Now she comes over next to the desk stands up on her hind legs looking for goodies

[14:52] {nemo} If I don't give her enough, she follows me...funny to turn around in the bathroom and see her standing there

[14:53] {Threei}  I'd say she is a bank and sees you as fed

[14:54] {RonS} fedvalentines: "we'll always have Jackson Hole"

[14:54] {Threei}  yikes

[14:54] {Threei}  lol

[14:56] {RonS} kinda gross, kinda funny:  http://tinyurl.com/85tyb7f

[14:57] {RonS} check out TVIX...

[14:58] {RonS} fedvalentines "me love you for an extended period"

[14:58] {Threei}  LVS

[14:59] {Threei}  DB candidate

[14:59] {Threei}  unless SPY ruins it

[14:59] {Threei} Long Setup:  LVS  .65 break

[14:59] {Threei}  if stays above .55

[15:02] {Threei}  change to .60 break

[15:03] {Threei}  invalidated

[15:05] {Les} was like BWLD setup, but damn that's a gappy stock

[15:05] {Les} like = liking

[15:05] {dino} so i'm thinking greek default by wednesday, as it seems germans have put their foot down

[15:06] {Threei}  unless someone blinks

[15:07] {dino} whats funny is they went from needing 50 b to now 200 b. they would have been better off defaulting at 50b and moving on

[15:08] {Threei}  why? I think they want to get as much as they can beforfe defaulting {G}

[15:08] {Threei}  never default on 1B if you can borrow 10B more and then default

[15:09] {dino} but they really aren't getting it, it goes to creditors

[15:09] {thomcbell} lvs trying another double bottom here

[15:09] {dino} moral of this story, never give up control of your currency

[15:09] {Threei}  not bad too - some creditors are happy

[15:09] {Threei}  that's so true

[15:09] {Threei}  I am not sure tbell

[15:10] {Threei}  feels like panic growing

[15:10] {Threei}  SPY is like to lose morning low, IMO

[15:11] {Threei}  likely

[15:11] {dino} feels so

[15:13] {Threei}  btw, have a look at intraday chart and compare with this pre-market prognosis:

[15:13] {Threei}  [08:54] {Threei} providing there are no more headlines, iniial selloff, then recover to about half of the gap, resumed selling into eod

[15:14] {Threei}  starting Monday, I change my nick to Threedamus

[15:14] {Threei}  Threestadamus?

[15:15] {RonS} goddamuss?

[15:15] {Threei}  no... Threestradamus

[15:15] {nemo} crissakes...now you'll start talking about the frickin' shoulder again

[15:15] {Threei}  that's it

[15:15] {nemo} Vadsteraptor

[15:15] {Les} LVS .50 b/d?

[15:15] {Threei}  even size of recovery (half of the gap) is almost precise

[15:16] {nemo} "almost precise"

06[15:16] * Les smacks Vad with a Delphian priestess

[15:16] {Les} vad .50 lvs

[15:16] {Threei}  don't know

[15:16] {Threei}  50/50

[15:16] {Threei}  that priestess is quite distracting, you know

[15:17] {nemo} interesting name for a hooker

[15:17] {Les} 50/50 Threedamus I call you

[15:18] {dino} still recommend vad the slayer

[15:18] {Threei}  LVS... yeah, liking more now

[15:18] {Threei}  also, MMM

[15:18] {Threei}  .85 break short

[15:24] {Threei}  LVS works

[15:28] {Threei}  MMM doesn't

[15:32] {Les} nope

[15:37] {Les} outta here. bon weekend.

[15:37] {RonS} cya Les

[15:37] {Threei}  take care Les

[15:40] {dino} cya les

[15:40] {nemo} don't encourage him, he'll think we like him

[15:45] {Threei}  no news for the spike

[15:45] {Threei}  just rebalancing

[15:45] {nemo} and short covering

[15:48] {Threei}  OK guys, let's end the week on this

[15:49] {Threei}  good week, today is not stellar but nothing to be ashamed of

[15:49] {Threei}  thank you all

[15:49] {Threei}  have a good weekend

[15:49] {Threei}  next week promises to be anything but boring

[15:49] {Threei}  see you Monday

[15:50] {dino} out simo .81, +.31

[15:50] {dino} out qcor .95, +.25

[15:50] {dino} out pbr flat

[15:51] {dino} out mon -.26

[15:51] {dino} pbr making me thirsty. thinking of pabst blue ribbon

[16:01] {dino} wow they painted that dji close

[16:01] {dino} gn all