Session Time: Mon May 21 00:00:00 2012
[09:03] {ese} gm
[09:03] {Threei} morning ese
[09:04] {ese} fabulous weekend except for today
[09:04] {Threei} still fabulous
[09:05] {ese} true
[09:06] {ese} Zuckerberg is down 5 billion.........poor guy.....character slam......if you can dump on your friends will you dump on the market
[09:07] {Threei} too bad we can't short this thing
[09:07] {ese} he cut a couple of his friends out of FB that helped him design it am I right?
[09:08] {Threei} I never followed those twists and turns...
[09:08] {dptl} gm
[09:08] {Threei} dp :)
[09:08] {ese} me neither........
[09:08] {ese} dp
[09:09] {Threei} with incredible amount of shares coming out of lockup in a few months and company IPOing at quite mature stage of grows, it looks to me like great short opportunity
[09:09] {ese} theres still more shares to be released? hmmmmmmm....think AONE here...it's around a buck now
[09:10] {Threei} personal holding, many million shares
[09:10] {nemo} I don't understand the revenue model
[09:10] {nemo} is there one
[09:10] {Threei} some re in lockup for 3 months, some 6, depending on conditions
[09:10] {ese} thats!!!!! a good question
[09:10] {Threei} ads
[09:11] {nemo} yeah, and there click through rates are extremely low
[09:11] {Threei} doesn't surprise me at all
[09:12] {ese} I don't have a facebook page.........and I don't want one
[09:12] {Threei} in all time I use it, I clicked on one or two, and when they offered me $50 credit to test it, I saw zero effect
[09:12] {RonS} gm...zuck w/ all that dough and he marries that? dated a SF Miss Chinatown in college...total babe and ballerina to boot...but mrs zuck...ooof
[09:12] {Threei} ron :)
[09:12] {ese} lol
[09:12] {ese} morning ron
[09:12] {nemo} maybe she.....never mind
[09:13] {ese} rotflol
[09:13] {nemo} paying for it is always cheaper then marrying it
[09:13] {ese} hmmmmmmmmmm
[09:13] {Beau} good morning all
[09:14] {RonS} bunny has you brainwashed...
[09:14] {Threei} beau :)
[09:14] {nemo} hardly...she's only been around for 2 years
[09:14] {RonS} lol...oh ok
[09:15] {nemo} Call no man unhappy until he is married. ~ Socrates
[09:15] {nemo} By all means marry; if you get a good wife, you'll be happy. If you get a bad one, you'll become a philosopher. - Socrates
[09:15] {nemo} Marriage is exchanging the praises of many for the criticism of one
[09:15] {Threei} and in the end she will bring you that bowl with poison
[09:15] {nemo} And you'll want to drink it
[09:16] {nemo} I guess you can call me jaundiced
[09:16] {RonS} why is divorce so expensive?...because it's worth it...
[09:16] {Threei} lol
[09:16] {Threei} so, why gold and silver are down
[09:17] {Threei} everything else is up
[09:17] {nemo} As a friend of mine said who had been through it more than once: I should just find a woman who hates my guts every five years or so, and buy her a house
[09:17] {thomcbell} hehe'
[09:18] {Threei} lol:
[09:18] {Threei} What do you mean it's not worth $100 billion? It has Like buttons?"
[09:18] {ese} lol
[09:19] {Threei} hmmm
[09:19] {Threei} "Facebook crashes through IPO price as underwriters give up"
[09:20] {Threei} question: who is doing all the selling?
[09:22] {Threei} I mean, insiders can't sell yet, broad publick has no shares yet
[09:22] {Threei} and shares are unavailable for shoert yet
[09:22] {ese} Zuckerberg....who else
[09:22] {Threei} nope
[09:22] {Threei} can't for the next three month
[09:22] {nemo} have options started trading yet?
[09:22] {Threei} a bit earlier: *(US) APR CHICAGO FED NATIONAL ACTIVITY INDEX: +0.11 V -0.44 PRIOR
[09:23] {RonS} fb options...week from tomorrow i think...
[09:23] {Threei} PIMCO's El Erian: Nothing significant was achieved by the G8 meetings; world remains in political and policy confusion
[09:23] {ese} have all the initial ipo shs hit the market yet
[09:23] {Threei} - Sees a very bumpy road ahead for Europe.
[09:24] {Threei} he is a diplomat
[09:24] {Threei} I see a chasm
[09:24] {RonS} El Erian..."and oh, by the way, the sky is blue..."
[09:24] {Threei} hehe
[09:25] {RonS} was wondering why this is moving...ETN Acquires $CBE For Huge Premium
[09:29] {RonS} lol...Is Facebook a good buy? The short answer is no. The longer answer is nooooooooo.
[09:29] {Threei} gap up feels lukewarm to me
[09:29] {Threei} looking for short entries but will skip first minutes
[09:30] {Threei} gdx
[09:31] {Threei} this one is rather long on pullback
[09:31] {Threei} desirably .60 - .65
[09:32] {Threei} too fast to alert
[09:32] {Threei} bottomed at .63
[09:32] {dino} gm
[09:32] {Threei} anyone got lucky to catch it?
[09:32] {Threei} dino :)
[09:33] {gen} gm
[09:33] {Threei} gen :)
[09:34] {Threei} Long Setup: FCX 32 break hl
[09:34] {dino} fb, i know a lot of people that bought. average guys/gals. they are very disappointed and most likely selling
[09:35] {Threei} stop .93
[09:35] {Threei} no go
[09:36] {Threei} Long Setup: TZA .20 break
[09:37] {Threei} If holds .10
[09:38] {Threei} not yet
[09:38] {Threei} crap, GDX just won't stop ever sunce diving into that buy zone
[09:39] {thomcbell} FB terrible action
[09:41] {Threei} Long Setup: GLD .20 break hl
[09:41] {Threei} If holds .10 target 1:2
[09:43] {Threei} 1:1
[09:44] {Threei} stop .18
[09:46] {Threei} cat
[09:47] {ese} fb dn $5.13......and he's dragging the rest of the market with him
[09:47] {Threei} Short Setup: SLW 25 break
[09:48] {Threei} If holds .10
[09:50] {nemo} grindy day so far
[09:50] {Threei} Invalidated
[09:51] {thomcbell} lvs on short watch here
[09:51] {dino} 07 red
[09:51] {thomcbell} im in 45.94 half lot
[09:52] {thomcbell} couldnt type setup quick enuf
[09:52] {Threei} SLW is reestablished
[09:52] {thomcbell} using 46.10 stop
[09:54] {Threei} cover half
[09:54] {Threei} stop to .02
[09:55] {thomcbell} gdx pintraday pattern fairly constructive here
[09:55] {thomcbell} i guess everyone will be reminded again about gold names are stocks too
[09:55] {Threei} scalpers win again
[09:56] {Threei} LOL... "So other than stock price, how was your honeymoon?"
[09:57] {RonS} ha
[09:57] {Threei} friking TZA
[09:58] {Threei} Long Setup: FAZ .40 break
[09:59] {Threei} If holds .30
[10:00] {Threei} target 1:3
[10:00] {dino} becn sm l .01
[10:00] {thomcbell} flat lvs -
[10:02] {dino} hlf spikey
[10:03] {dino} sm l .25
[10:04] {Threei} what the deuce
[10:04] {dino} out hlf .55, +.30
[10:05] {Threei} HLF Receives Approval for Additional Direct-Selling Licenses in China
[10:05] {Threei} US Supreme court orders review of internet based business methods
[10:05] {Threei} huh?
[10:09] {Threei} spactic action
[10:09] {nemo} spy is long here
[10:09] {dino} dhi l .77
[10:12] {dino} out dhi .89, +.12
[10:13] {RonS} gj
[10:14] {Threei} Long Setup: GLD .70 break hl
[10:14] {Threei} If holds .60
[10:15] {dino} ty
[10:15] {Threei} target 1:2
[10:18] {Threei} half out
[10:18] {Threei} stop to .69
[10:20] {dino} out becn .36, +.35
[10:20] {Threei} out
[10:20] {Threei} third win for scalpers
[10:23] {dino} gotta hop, back in hour
[10:23] {Threei} Long Setup: TZA .80 break
[10:23] {Threei} If holds .70
[10:23] {Threei} hurry up dino, if you blink FB might hit low 10s
[10:24] {Threei} and we probably will want to scalp it there
[10:26] {Threei} grr
[10:27] {Threei} what's with these spikes out of nowhere
[10:28] {nemo} grind up day
[10:29] {Threei} that would be fine... but it forms a reversal setup, then kills it by a spike
[10:29] {Threei} look at TZA long setup
[10:29] {Threei} it's a textbook
[10:29] {Threei} same with FAZ earlier
[10:29] {nemo} spy just reached long term level, .09 next level
[10:35] {nemo} a short for scalp worth it here
[10:35] {nemo} spxu or tza
[10:35] {Threei} very much so, but this is going to be 4th time it shapes up
[10:36] {Threei} which one is a charm?
[10:36] {nemo} well, IWM at weekly pivot. .62 is WPP on spy
[10:37] {Threei} Long Setup: SPXU .10 break hl
[10:37] {Threei} If holds 55 of course
[10:38] {Threei} target 1 to frikin 3
[10:38] {Threei} 1:1
[10:39] {Threei} stop to .05
[10:41] {Threei} come on SPY, do the double top
[10:42] {Threei} yeah right
[10:42] {nemo} my bet is spy goes eventual to .62 area
[10:42] {Threei} another one for scalpers
[10:48] {Threei} if paterns holdas, TNA should spike hard here
[10:48] {Threei} lol... did even while I typed
[10:49] {ese} what is ZNGA?
[10:49] {RonS} on line games...farmville where people pay for animals, ect
[10:50] {RonS} etc...
[10:50] {ese} tks
[10:51] {Threei} GDX starts lagging
[10:52] {Threei} looking for short entry
[10:53] {RonS} http://company.zynga.com/
[10:54] {Threei} come on GDX, bounce
[10:54] {Threei} what kind of move is that, not giving any chance for entry
[11:03] {Threei} Short Setup: GDX .40 break
[11:03] {Threei} If holds .50
[11:06] {Threei} bug day
[11:07] {ese} bug day?
[11:07] {Threei} some days you are windshield, some days you are a bug
[11:11] {Threei} TZA/FAZ finally work
[11:11] {Threei} same setups as those that didn't before
[11:23] {Threei} Long Setup: TZA .50 break
[11:23] {Threei} If holds .40
[11:24] {Threei} change to .45 break
[11:24] {Threei} stop .34
[11:25] {Threei} target .80
[11:28] {Threei} 1:1
[11:28] {Threei} don't you dare turn into scalp
[11:36] {nemo} I'm not thrilled with the levels but IWM above .50 would technically be a long here
[11:36] {nemo} stop is .34
[11:37] {Threei} sigh
[11:37] {nemo} 1/2 out .68
[11:37] {Threei} 5th scalp
[11:38] {nemo} taking more at .79 if it gets there
[11:46] {dino} gj
[11:51] {nemo} spy or iwm break here is long
[11:55] {nemo} I'm out here, it's starting to look short again
[11:58] {Threei} Short Setup: CAT .25 break
[11:58] {Threei} hl
[11:58] {Threei} If holds .35
[12:01] {Threei} sigh
[12:02] {nemo} sob, I should probably have stayed in
[12:03] {nemo} although .65 area IWM and .20 area spy are possible breaks
[12:08] {Threei} NYSE volume 270M shares, about 6% below its three-month average;
[12:08] {Threei} - NASDAQ volume 815M shares, about 11% above its three-month average;
[12:08] {Threei} on NASDAQ it's probably FB effect
[12:08] {Threei} so overall volume on up day is down vs selloff days
[12:11] {Threei} (EU) German Fin Min Schaeuble: EU integration and strong Europe are in mutual interest; Reiterates France and Germany agree Greece should stay in Eurozone - joint press conf- Today's talks were good and Europe can't advance without French German unity. - Reiterates everything will be on table at May 23rd summit. - Does not question ECB's inflation stance.
[12:11] {Threei} French Fin Min Moscovici: France and Germany have a special responsibility for EU. Need to hold to responsible budgets, but also must consider all options for boosting growth. - France is committed to cutting deficit below 3% of GDP in 2013 and reaching balanced budget in 2017. - Greece must keep its commitments, but Europe must show Greece that its ready to help boost growth. - Did discuss the idea of Eurobonds but both stuck with prior positions - Decision on who will head Eurogroup will be part of a package of personnel decisions
[12:12] {Threei} what an incredible mess
[12:15] {nemo} LVS
[12:15] {nemo} shit, missed it
[12:21] {ese} L RVBD .40
[12:21] {nemo} wow, that was an expensive stop on TNA
[12:36] {Threei} JPM CFTC Chief Gensler confirms investigation into the company over its trading loss (as previously reported)
[12:38] {dino} you know $3 billion on a $200billion book, isn't that big imo
[12:38] {Threei} their balance sheet is 1T
[12:39] {Threei} from all information available, they lost their own money - not vlients, not taxpayers
[12:39] {dino} well, even more to my point
[12:39] {Threei} good for them, let them lose and let them market price reflect them
[12:40] {Threei} why congress is going to do hearing and SEC and CFTC - investogate, is beyond me
[12:40] {dino} exactly
[12:40] {Threei} they made 11B in 2011
[12:40] {Threei} I haven';t heard applause
[12:41] {ese} out rvbd .49 +.09
[12:41] {Threei} just the opposite in fact - crowds we as disgusted with their pfots as they are now with loss
[12:44] {dino} out rvbd +.08, ty ese
[12:46] {Threei} Short Setup: LVS .50 break
[12:46] {Threei} If holds .60
[12:49] {Beau} hearings because it is election time. Congress protecting us common folk and by the way vote for me.
[12:50] {Threei} yes... oh, and I fully expect hearing into FB overpriced IPO
[12:51] {Beau} yep
[12:52] {Threei} full consumer protection mode, you know
[12:52] {Threei} from himself too
[12:53] {Beau} i am ready for a benevolent dictatorship with nemo or me as dictator
[12:57] {Threei} I'll handle machine gun
[12:58] {Threei} any worthy benevolent dictatorship has to have a lot of those
[13:00] {Threei} as you well realize, you hesitated to say scalp ot half... for understandble reasons, lol
[13:01] {Threei} so whatever you did is good
[13:01] {nemo} hehehehe...I define benevelence as helping people's souls transition to the next incarnation...
[13:01] {Threei} lol
[13:02] {nemo} benevolence
[13:03] {Beau} traders have souls?
[13:03] {nemo} I didn't say that
[13:04] {Threei} before first short
[13:05] {Threei} as soon as you shorted your fitrst stock, it's good night
[13:05] {nemo} ahhhh...Vad, what the hell are you talking about?
[13:05] {Threei} soul?
[13:06] {nemo} btw...Jack Daniel's Tennessee Honey, excellent stuff
[13:07] {nemo} yep...definitely after noon
[13:08] {nemo} long .46 lvs
[13:09] {nemo} stop under .35
[13:09] {Threei} isn't it amazing - 6 winning trades, and I am negative
[13:09] {Threei} clear mismanagement
[13:09] {nemo} must be that ex-soviet in u
[13:13] {nemo} oh well, probably a short, hit resistance at the 40 period average
[13:17] {Threei} (US) San Francisco Fed issues research on Quantitative Easing; impacted yields more than targeted debt- QE program lowered 10 year yield by 1%
[13:17] {Threei} well?
[13:17] {Threei} logic says let's do QE3, right?
[13:21] {nemo} rinse
[13:25] {ese} sorry dino didn't see your thanks ........
[13:25] {Threei} too late ese
[13:25] {Threei} dino put you in the "never thank again" list
[13:26] {ese} lol
[13:29] {ese} L car .29
[13:33] {ese} L some more avg .30
[13:35] {ese} stop to .28
[13:37] {ese} out 1/2 .34 3k
[13:37] {ese} stop to break even balance .30
[13:39] {ese} 1/2 of the 1/2 .37 +.07
[13:41] {ese} out in full .39 1.5k +.09
[13:42] {ese} good enough
[13:43] {ese} dats whacher Vadim Grapher edgeeacation will dofer ya
[13:43] {Threei} rofl
[13:43] {nemo} must be a musician
[13:44] {dino} gj ese
[13:44] {nemo} bet he's a teacher too
[13:44] {Threei} I feel really proud of your spelling ese
[13:44] {ese} ha di geeya ges
[13:45] {ese} lol
[13:48] {nemo} next rip coming
[13:48] {nemo} .63 is WPP, next level is 132.35 or so
[14:02] {Threei} let's see if this is finally a reversal
[14:02] {Threei} if SPY bounces into .45 - .50 zone, FAZ/TZA should be entry
[14:09] {dino} whr sm s .99
[14:12] {ese} rvbd took off nicely
[14:20] {dino} whr stop -.19
[14:30] {Threei} Long Setup: FAZ .05 break
[14:30] {Threei} If holds .95
[14:47] {Threei} looks better and better to me
[14:47] {Threei} this could be our chance to fix the day
[14:48] {Threei} has 40 cents potential
[14:50] {Threei} in case you need a proof that insanity is not limited to any side of the pond:
[14:50] {ese} nope
[14:50] {Threei} (ES) Spain Govt said to be encouraging large ECB involvement in a new strategy for the EU to help increase growth measures - financial press- NOTE May 20th: (EU) Spain PM Rajoy has asked German Chancellor Merkel for ECB liquidity injection into Spanish banks - Spanish press
[14:51] {Threei} invalidated but on radar
[14:51] {nemo} I'm expecting spy and iwm to breakout
[14:52] {Threei} well, if the next line is "Merkel agreed to inject 500B in Spain" I fully expect rally to new all time highs
[14:53] {Threei} seriously, ar these folks totally insane?
[14:54] {Threei} (EU) Institute of International Finance (IIF): Deterioration in the EMU requires a policy response; options include lowering interest rates further, creating new ECB loans or intervening on bonds
[14:54] {nemo} long .71 upro
[14:54] {Threei} nice options
[14:54] {nemo} stop .55
[14:54] {Threei} - Sees possible Spain Banking loan losses reaching approx �218-260B; expecting some banks to require Govt assistance
[14:56] {nemo} 1/3 at .90
[14:56] {Threei} nice
[14:56] {nemo} look at spy on 15 minute
[14:59] {ese} thats a nice chart
[14:59] {nemo} yeah, and .63 is the weekly pivot
[14:59] {ese} L fas .22
[15:00] {ese} out fas .41
[15:00] {ese} +.19
[15:01] {ese} 1/2
[15:02] {nemo} spy could go to 132.40 area
[15:02] {nemo} stop is .69
[15:02] {nemo} hehehe
[15:16] {Threei} Long Setup: FAS .50 break
[15:16] {Threei} if stays above .35
[15:20] {Threei} valid
[15:26] {Threei} half out
[15:26] {Threei} stop .45
[15:28] {Threei} lol
[15:28] {Threei} that's 7th today
[15:33] {Threei} volume is about half of Friday's
[15:34] {Threei} to me, this is a damning indication of how significant this strength is
[15:44] {Threei} why, why can't we short FB
[15:47] {nemo} Friday was op ex
[15:50] {dino} y
[15:50] {nemo} that might have been much of the volume on top of the FB launcy
[15:50] {nemo} launch
[15:51] {Threei} SPY volume is singificantly lower than Thursday's too
[15:51] {Threei} and Wed
[15:51] {Threei} so, while both FB and op ex have their influence, it's still the story of lower volume on up day
[15:52] {dino} well thats been the story since october
[15:57] {nemo} yahoo...I actually held the rest out at 132. 69.35
[15:57] {Threei} nice
[15:58] {Threei} OK guys, thank you all, let's get them tomorrow
[15:58] {Threei} have a good evening
[15:58] {dptl} gn
