Wednesday, August 1, 2012

Aug .01 2012

Most of the day was boring and empty, as market stalled in waiting for FOMC. What we did find though worked so the day was not wasted. WFC long in the morning was particularly pleasant play. Those of room members who trade "pulp" stocks (see  for definition) had a lot of fun and profits today. On to the ECB - it's their turn to throw the wrench in the spokes.

Session Time: Wed Aug 01 00:00:00 2012
[09:05] {jackharry} good morning
[09:05] {Threei}  morning jack
[09:06] {cipher} gm
[09:07] {Threei}  cipher :)
[09:10] {dino} gm
[09:10] {Threei}  dino :)
[09:16] {scottie} gm
[09:16] {Threei}  scottie :)
[09:19] {ese} gm
[09:20] {dino} nice nasty
[09:20] {Threei}  ese :)
[09:20] {Threei}  dino... getting ready for your Christmas rounds?
[09:21] {Will49} GM
[09:21] {Threei}  will :)
[09:22] {dolores} hello there
[09:22] {dolores} GM
[09:22] {Threei}  dolores :)
[09:22] {Beau} good morning all
[09:22] {Threei}  beau, welcome back
[09:23] {Beau} thanks, good to be back
[09:23] {nemo} I need to log in after all the just puts a cloud over my day
[09:23] {dino} lol 3i, symbol nice
[09:23] {Threei}  ahhhh... I thought you started making lists :)
[09:24] {Beau} enjoyed being with kind, nice people.  Like nemo.
[09:24] {Threei}  there goes nemo's morning
[09:24] {Threei}  guys, everyone got the e-mail with two months outlook thingy?
[09:25] {thomcbell} no
[09:25] {jackharry} no
[09:25] {Threei}
[09:25] {scottie} no, but I read it in the trading log
[09:25] {Threei}  are you getting e-mails with sunday links?
[09:25] {dino} yes
[09:26] {thomcbell} i have gotten them periodically - but have not for several weeks
[09:26] {Threei}  please check your junk boxes, maybe need to correct filters
[09:26] {thomcbell} ok
[09:26] {Threei}  there are couple cases where they just don't get to some
[09:26] {Threei}  so make sure to check the log over the weekend
[09:27] {scottie} I like the analogy with the games
[09:27] {Threei}  Week wrap-up ususally appears on Fri
[09:27] {Threei}  and Nemo's Findings - when Nemo finds things out
[09:28] {Will49} ooohhhh
[09:28] {Threei}  it's broadened from pure pivots to included the views on weeks action and next week assumptions,
[09:28] {Threei}  so don't skip it
[09:28] {dptl} gm
[09:28] {Threei}  dp :)
[09:28] {Threei}  what happened will?
[09:28] {nemo} I consult with the spirits
[09:28] {nemo} you know....
[09:28] {Threei}  and chicken entrails I assume
[09:28] {nemo} vodka, gin, rum...etc
[09:29] {Threei}  oh, those spirits
[09:29] {nemo} fslr
[09:29] {Will49} just disappointed your insult of nemo wasn't stronger:)
[09:30] {Threei}  day just started
[09:30] {Will49} I have faith
[09:31] {Threei} Long Setup:  SLW  .10 break
[09:31] {Threei}  If holds  27
[09:32] {Threei} Long Setup:  FCX  .55 break hl
[09:32] {Threei}  If holds  .45
[09:32] {dino} nice sm l .00
[09:33] {Threei}  Invalidated  SLW
[09:33] {Threei}  FCX 1:1 if got it
[09:33] {Threei}  thought SLW was two-sided
[09:34] {Threei}  LVS, bounce watch
[09:34] {Threei} Long Setup:  LVS  37 break hl
[09:35] {Threei}  Invalidated
[09:37] {Threei} Long Setup:  KCP  .40 break
[09:37] {Threei}  If holds  .30
[09:37] {Threei}  JCP
[09:37] {thomcbell} gdx - bananas
[09:37] {Threei}  bounce candiidate too
[09:38] {Threei} Long Setup:  DGX  .50 break
[09:38] {Threei}  GDX
[09:38] {Threei}  what's with typing
[09:38] {Threei}  If holds  .40
[09:38] {RonS} hog pulp
[09:38] {Threei}  JCP, change to .25 break
[09:39] {Threei}  to .10 now
[09:39] {Threei}  If holds  22
[09:40] {dino} 07 red
[09:41] {dolores} out FCX
[09:43] {dolores} missed JCP still on to entry here?
[09:44] {Threei}  on .10 recross, yes
[09:44] {dolores} ok
[09:44] {Threei}  unless loses 22
[09:44] {dolores} ok
[09:44] {Threei}  no go
[09:44] {dolores} invalidates
[09:44] {nemo} weird morning
[09:45] {RonS} hog sm l 38.10
[09:45] {Threei}  a lot of weakness
[09:45] {RonS} out hog 40.10  +2.00
[09:45] {Threei}  eeck
[09:45] {cipher} wow
[09:45] {scottie} beautiful ron
[09:45] {cipher} nice ron
[09:46] {Will49} holy
[09:46] {dino} wtg
[09:46] {RonS} ty
[09:47] {Threei} Long Setup:  WFC  .45 break
[09:48] {Threei}  half out
[09:48] {nemo} big C&H on the daily
[09:48] {Threei}  and 52 week highs
[09:49] {dino} amt spike
[09:49] {Threei}  stop .39
[09:49] {Threei}  let's see if we can get a good run out of it
[09:49] {Threei}  offr 1/4 more near .65
[09:49] {Threei}  and last piece for a bigger move
[09:50] {nemo} wow almost 8mil shares already
[09:50] {ese} what bizzare trading and spreads with amt earlier......was watching that just go nuts dino
[09:50] {dino} amt sm s .45
[09:51] {ese} RON!!!!!!! 2 bills with hog.....nice one
[09:51] {dino} cov .90, +.55
[09:51] {Threei}  gj
[09:51] {dino} ty
[09:51] {ese} nice job also dino
[09:51] {Threei}  1/4 more out WFC
[09:51] {Threei}  stop to .44
[09:51] {Threei}  don't be in a rush to sell last piece
[09:52] {dino} nice stop -.33
[09:52] {Threei}  nice's naughty
[09:52] {dino} yeah
[09:52] {dino} wasn't a bad report
[09:53] {Threei}  bad gyidance
[09:53] {Threei}  guidance
[09:54] {dolores} MCP halted
[09:54] {Threei}  Excessive volatility in a basket of US stocks being attributed to rumors of algorithmic trading problems at Knight Capital
[09:55] {dolores} JCP at lows
[09:55] {Threei}  bots gone wild
[09:56] {nemo} mcp halted
[09:56] {Threei}  so's CLGX
[09:56] {Threei}  and KRO
[09:57] {Threei}  and CO
[09:57] {nemo} COH
[09:58] {Threei}  let's back off a liuttle while Knight sorts it out
[09:59] {nemo} s coh .97 stop above the whole
[09:59] {thomcbell} i bet qcom is in there too
[09:59] {thomcbell} possibly gdx
[09:59] {thomcbell} kcg or kgc ?
[10:00] {dino} 07 red
[10:00] {nemo} partial .83
[10:00] {RonS} deck pulp
[10:00] {dolores} is system failure or what?
[10:00] {dino} vpu spike
[10:00] {dino} sm s .50
[10:01] {RonS} gme murdered the shorts...4 mil sh already
[10:02] {RonS} rsh too
[10:02] {dino} cov .00, +.50 that things nuts
[10:02] {dino} vpu
[10:02] {Threei}  KCG
[10:02] {Threei}  Knight Capital Group Inc. Issues communication to clients; requests seeking alternatives to execution- Firm discloses that due to a technology issue, Knight is experiencing a delay in processing orders of Listed securities. They are asking that you seek an alternate destination for the execution of these securities until further notice. They indicate order handling and execution of OTC securities is not affected.
[10:03] {dino} vsm s vpu 70
[10:03] {Threei}  let's try for .85 - .90 WFC
[10:03] {dino} .70
[10:04] {dino} cov 82.53, +1.17
[10:04] {Threei}  sheesh
[10:04] {dino} dropped another buck after cover
[10:04] {Threei}  you guys are hitting big ones today like it's nothing
[10:05] {Threei}  QFC at 1:3
[10:05] {dino} pulp day
[10:05] {Threei}  very good chance for 1:4
[10:05] {Will49} Vad is over excited (QFC?)
[10:06] {Threei}  WFC
[10:06] {Threei}  fat fingers
[10:06] {dino} wow, its only 10 am
[10:06] {RonS} oil new high, copper ugly
[10:06] {nemo} stop .90ish
[10:07] {Threei}  {copper} I want second opinion
[10:09] {dino} ssys spike
[10:11] {nemo} l coh .12
[10:11] {nemo} stop under whole
[10:11] {cipher} HOG L .60
[10:12] {nemo} ow
[10:12] {RonS} wow look mtw chart...
[10:12] {cipher} OUT .30 +.70
[10:13] {dino} what do you see/
[10:13] {Threei}  done with WFC
[10:18] {dolores} JCP tank
[10:18] {dolores} any news?
[10:18] {Threei}  nothing fresh
[10:19] {dolores} maybe follwing the market
[10:19] {Threei}  earlier, cautious comments by research firm
[10:19] {dolores} thxs
[10:22] {cipher} aapl l.54
[10:23] {cipher} out 1/2 610.25 +.69
[10:24] {RonS} vmw sm l .90
[10:24] {ese} L swn .58
[10:26] {cipher} out aapl in full 611.10 +1.56
[10:30] {RonS} crude spike
[10:36] {cipher} uso l .17
[10:36] {ese} out swn .62 +.04
[10:36] {ese} loosing a little confidence there
[10:37] {ese} L ocz .01
[10:37] {cipher} out uso .22 +.05
[10:38] {RonS} cipher fwiw uso is a flawed instrument for trading oil
[10:38] {cipher} why
[10:39] {RonS} imo...blend of futures contract so oil price can be spiking near and futes down in out mo contracts, etc
[10:39] {cipher} ic
[10:39] {RonS} better to trade oxy, apa...others
[10:39] {cipher} ok thx ron
[10:40] {dino} nice sm l .00
[10:40] {RonS} stock name or bet on nemo?
[10:40] {dino} cnw sm l .55
[10:41] {Threei} Short Setup: LVS  .75 break
[10:41] {Threei}  If holds  .85
[10:47] {nemo} we're in suspended animation until the bearded clam pronouncement
[10:48] {Threei}  French Parliament Passes Transaction Tax in Hollande�s Budget
[10:48] {nemo} well, they're bourse should shut down
[10:49] {Threei}  they have bourse?
[10:52] {Threei}  If small business is the �engine� of the U.S. economy, it's leaking oil and running on only three cylinders according to Wednesday's release of a closely followed loan activity report
[10:53] {Threei}  well, when the man at the helm tells them they had nothing to do with their own success...
[10:54] {dino} exactly. not inspiring
[10:56] {Threei}  hidden (not so well, mind you) message is: you are no more hardworking or smart than the others; you just work the system that more decent people support; you are necessary evil, we tolerate you (barely), so know your place
[10:56] {dino} out nice .42, +.42
[10:57] {Threei}  nice
[10:57] {Threei}  umm... well.. grrr
[10:57] {Threei}  this stock needs some other symbol
[10:57] {dino} lol
[10:57] {dino} cnw stop -.30
[10:58] {dino} his real hidden message is "from those who can to those who don't"
[10:59] {Threei}  to those who don't want to
[11:00] {dino} wtf cnw rinses
[11:01] {dino} he's a modern day robin hood (worst story ever told)
[11:01] {dino} idcc spike
[11:01] {dino} sm s .40
[11:02] {dino} ouch out -.50
[11:04] {dino} sm s .20
[11:04] {dino} damn stop -.30
[11:06] {dino} sm s idcc .25
[11:07] {dino} no go again
[11:07] {dino} opps, it is working
[11:07] {nemo} you oughta' run fib retracements on those huge pops dino
[11:08] {dino} i should
[11:08] {nemo} they tend to react nicely to them
[11:09] {RonS} idcc s from 33.80
[11:09] {RonS} too fast to post since took cnw .42 to .65  thanks dino
[11:09] {dino} cov idcc .00, +1.25
[11:10] {nemo} if there's strength it'll bounce here
[11:10] {nemo} yep
[11:10] {dino} how do i add fibs to nemo?
[11:11] {nemo} see the draw column? just to the left of the chart?
[11:11] {dino} y
[11:11] {nemo} 9th button down
[11:12] {dino} fib retrace/
[11:12] {dino} ?
[11:12] {nemo} you can change the settings and do either fib retracements or extensions
[11:13] {RonS} cov idcc 32.30 +1.50
[11:13] {nemo} press the button, then put your cursor at the bottom, click, run it to the top, and click again
[11:13] {dino} gj
[11:13] {nemo} Then, click on the line and choose "edit" from the menu
[11:14] {RonS} nsph l 3.10
[11:15] {RonS} lulu sm l .10
[11:17] {Threei} Short Setup: LVS  .70 break
[11:17] {Threei}  If holds  .80
[11:19] {nemo} 50% retrace of idcc is here
[11:21] {dino} hitting the fib fan levels
[11:21] {nemo} I've never used that
[11:22] {dino} i'm probably using it wrong
[11:22] {dolores} LVS trying to hold that .70
[11:23] {nemo} the retracement/extension tool is much it from a swing low/high to another swing low/high and go
[11:23] {nemo} especially for something like an idcc that blows by all obvious support and resistance
[11:24] {RonS} heard moved off court ruling...
[11:24] {RonS} 14% float short idcc
[11:26] {dolores} LVS still on for S?
[11:26] {dolores} no
[11:26] {Threei}  probably not
[11:26] {Threei}  may reestablish
[11:28] {dino} ddmg spike
[11:30] {RonS} out lulu -.10
[11:31] {nemo} this might be the last pop in idcc before the next leg down
[11:31] {dino} idcc want the 50?
[11:31] {nemo} would likely go to .30.30 area
[11:31] {dolores} FARO down nice
[11:31] {dino} seeing 50 @ 30.25
[11:32] {nemo}
[11:32] {RonS}  NYSE currently reviewing trades in 148 symbols
[11:33] {RonS} meli sm l 65.10
[11:37] {ese} What time does Ben Berdumb dumb speak.......I need to when to short the whole frickin world
[11:37] {ese} know when
[11:38] {Threei}  decision is 14:15
[11:39] {Threei}  read yesterday's post on two months outlook ese
[11:39] {Threei}  you'll have bwetter idea what to expect and where odds fall
[11:39] {nemo} see how price action bouncing between the 50% retrace and the 38.2% on idcc
[11:39] {ese} tks
[11:41] {dino} y
[11:43] {ese} are everbodys scanners at a standstill like mine............barely anything moving
[11:44] {dino} 07 moving
[11:44] {nemo} wow...I'm going to edit myself
[11:44] {nemo} sheesh...just short nflx until 0\
[11:44] {nemo} 0
[11:44] {Threei}  yes ese
[11:46] {dino} rog spike
[11:46] {dino} 07 red
[11:47] {RonS} Knight tells clients to excute trades eleswhere for now
[11:48] {Threei}  oh boy
[11:48] {Threei}  is there anyone here who wouldn't have me on ignore?? :)
[11:48] {ese} black knight
[11:48] {ese} ?
[11:48] {ese} lol
[11:48] {nemo} your accent is like fingernails across a chalkboard
[11:48] {Threei}  10:02] {Threei} Knight Capital Group Inc. Issues communication to clients; requests seeking alternatives to execution- Firm discloses that due to a technology issue, Knight is experiencing a delay in processing orders of Listed securities. They are asking that you seek an alternate destination for the execution of these securities until further notice.
[11:49] {Threei}  - US equity markets are around the unchanged mark this morning following some weak US data and strange gyrations in a wide basket of stocks blamed on an out-of-control algorithm.
[11:49] {Threei}  Many traders continue sit on their hands ahead of the key ECB and Fed policy meeting, although there was notable weakness in commodity futures coming into the US session, suggesting that some traders do not expect great things out of either central bank
[11:49] {dino} here come the lawsuits and congressional investigation of knight, poor bast@rds
[11:50] {ese} out of control algorhthm?
[11:50] {nemo} and new calls for the trader tax
[11:50] {dino} yes. can hear it already
[11:51] {Threei}  I saw twitter gping nuts about how it confirms their desperate screams for reigning in HFT and algos
[11:51] {Threei}  never mind that this kind of things happened just as easy with manual erros
[11:51] {ese} were talking about the year 3012 are we.......where the algorhthm jumps out of your computer and strangles you to death or something.........plots your demise while looking at your from the screen?
[11:51] {Threei}  anyone remember expression "swiss trainee"?
[11:52] {ese} kinda
[11:52] {Threei}  there was a bad case of market tanking a lot very fast for no good reason
[11:53] {ese} just recently right......last summer or something maybe 2 yrs ago
[11:53] {Threei}  in an hour or so it became known that some swiss bank or broker had trainee making an error in big order
[11:53] {Threei}  exaggerating magnitude of order by couple zeros or so
[11:54] {Threei}  no, it was WHILE AGO
[11:54] {ese} yes yes..........
[11:54] {Threei}  before akgos era
[11:54] {Threei}  so, the standing joke for months if not years was
[11:55] {Threei}  mentor to Swiss trainees: "today we study Lean on Sell button"
[11:55] {Threei}  and other variations of that
[11:55] {Threei}  any sudden move caused immediate comments of this kind
[11:55] {ese} lol
[11:55] {Threei}  "swiss trainees at work"
[11:56] {Threei}  yet new generation of traders knowing no life before twitter think it all happens for a first time
[11:56] {ese} Lean On Sell Button Class 101.......a must study for sure
[11:56] {Threei}  lol
[11:57] {Threei}  and of course those who made crusade against bots their claim to fame are jumping up and down
[11:57] {Threei}  "flash crash 2," my a$$
[11:58] {dino} cnw sm l .01
[11:58] {Threei}  few things irritate me more than ignorance...
[11:58] {Threei}  and few things scare me more than deadly combination of ignorance and arrogance
06[12:01] * Threei slaps cc_8 around a bit with a large alarm clock
[12:01] {cc_8} LOL
[12:02] {ese} L cnw .13
[12:03] {ese} a little late but what the H..
[12:03] {nemo} spxu .56 small
[12:03] {nemo} well .57
[12:03] {nemo} top under .50
[12:03] {nemo} stop
[12:05] {nemo} pit
[12:05] {nemo} out
[12:07] {ese} got a target in mind dino  cnw?
[12:07] {jackharry} two sided set up on LVS, break of 37 or .90?
[12:09] {ese} out cnw......good enough .35 +,21  I wasn't small
[12:09] {ese} tks dino
[12:11] {nemo} gmcr
[12:15] {dino} out cnw .30, +.29
[12:15] {dino} yw ese
[12:28] {nemo} gs long tempting
[12:32] {dino} cnw sm l .02
[12:39] {dino} out cnw .34, +.32
[12:46] {ese} me thinks it's gonna try it again dino
[12:50] {dino} maybe so
[12:51] {dino} sm l .01
[12:51] {Threei}  (GR) Greece Democratic Left's Kouvelis: Coalition government has reached an agreement on an outline for further cuts- Political forces agree on main points. - As of yet have not worked out all the details of the plan. - Follow up: Greek PASOK party's Venizelos: Parties agreed on �6B in wage and pension cuts, tried to convince other parties to pursue a bailout extension now.Will accept the Govt's decision on �11.5B in measures, Partners agree on cuts over 2 year time period - Budget cuts now to be given to the Troika for greater examination
[12:52] {Threei}  (EU) IMF's Lagarde: There is a very clear decline in confidence in Europe, EU authorities need to be in full crisis management mode- Leaders in Europe must clarify the outline of the euro zone roadmap to dispel uncertainty. - EU needs to solve the Spain bank bailout issue in September. - LIBOR scandal shows that financial reform process is not complete. - Despite impressive budget cuts, Greece can do much more in structural reforms. - IMF never leaves the table (responds to question on IMF status regarding Greece bailout)
[13:00] {Threei}  Bollywood actress: "I have become the first Indian to pose naked for Playboy and nobody can take away that achievement from me"
[13:02] {Threei}  now I know for sure you are all asleep
[13:03] {dino} zzzzzzzzzzzzzzzzzzzz
[13:05] {RonS} out vmw .65 +.75
[13:05] {Threei}  wtg
[13:06] {dino} gj
[13:12] {dino} prlb spike
[13:12] {dino} wide
[13:13] {nemo}
[13:15] {dino} out cnw .33, +.32 ty ese
[13:20] {ese} zzzzzzzzzzzzzzzzz....well done i kinda zoned out forgot about it
[13:20] {thomcbell} long setup ebay 44.28 break if holding 44.18
[13:21] {ese} one heck of an achievment i'd say...........
[13:23] {dino} lol
[13:27] {Threei}  US) Preview: FOMC rate decision due around 14:15ET- The FOMC policy announcement today is the first central bank decision in a busy 24 hour period for central banks. Some market watchers are hoping that Bernanke's recent reiteration that the Fed is ready to do more if necessary will result in a QE3 announcement today, that might be followed in semi-coordinated fashion by a raft of new extraordinary policy programs from the ECB on Thursday.
[13:27] {Threei}  - It is more likely, however, that the FOMC will not take aggressive new action today for a number of reasons. First, the Fed may be reluctant to take on additional balance sheet commitments after it just extended Operation Twist at the June meeting. Today's meeting does not include a press conference: Bernanke might see wisdom in waiting for the September FOMC meeting which will have a press conference that will allow a fuller explanation of the reasoning for another balance sheet expansion. It would also allow him to set the table for QE3 at the Jackson Hole symposium in late August. Also, although economic data has turned decidedly sour in the last few months, a slightly better than expected advance Q2 GDP print last week and the prospect for a better number in this Friday's payroll data could give the Fed some cover to hold off on QE3, allowing them to gather another month's worth of data to confirm the economy is stalling.
[13:28] {Threei}  Other options that are open to the FOMC include cutting the IOER or further revisions in the policy statement language to convey the Fed's readiness to act. If the Fed wants to show deep concern about the economic slowdown, it could shift its low rate pledge from late 2014 to mid 2015 as another incremental step before resorting to QE3.
[13:31] {thomcbell} ebay invalidated
[13:49] {dptl} 2:15 is that fomc? right
[13:49] {Threei}  yes
[13:50] {dptl} ty
[13:58] {dino} fire lod
[14:03] {RonS} @conan_o_brien: More bad news from $UBS bank bet $500MM on Switzerland vs. Mexico in soccer
[14:03] {dino} lol
[14:06] {Threei}  lol
[14:06] {nemo}
[14:13] {Threei}  oops
[14:14] {RonS} gold pounded
[14:14] {Threei}  everything is
[14:14] {ese} the same?
[14:15] {Threei}  ?
[14:15] {Will49} SNAFU
[14:15] {nemo} no FUBAR
[14:15] {ese} you said everthing what?
[14:15] {Will49} that too
[14:15] {Threei}  to Ron's "gold pounded" ese
[14:15] {Threei}  - The Committee will closely monitor incoming information on economic and financial developments and will provide additional accommodation as needed to promote a stronger economic recovery and sustained improvement in labor market conditions in a context of price stability.
[14:16] {Threei}  this is the key phrase
[14:16] {Will49} oh, i feel so much better now
[14:16] {Threei}  no immediate decisions, just as yesterday's outlook post forecast
[14:16] {ese} market tanks but everthing seems fine to me
[14:16] {Threei}  no QE3 right away, ese
[14:16] {Threei}  that's all
[14:17] {Will49} market no likee
[14:17] {thomcbell} tough to go meaningfully short with ecb tomorrow
[14:17] {Threei}  market hoped for further easing and didn't get it
[14:17] {dolores} and no extension of low rates
[14:17] {Threei}  right
[14:17] {nemo} l .25 upro
[14:17] {Threei}  - To continue through the end of the year its program to extend the average maturity of its holdings of securities as announced in June
[14:18] {nemo} out
[14:18] {nemo} sheesh
[14:19] {nemo} l tna .51
[14:19] {nemo} stop under .30
[14:19] {nemo} small btw
[14:20] {Threei}  while this is valid setup, diaper should be kept close
[14:20] {Threei}  good one
[14:20] {nemo} partialed .80
06[14:20] * Threei slaps nemo around a bit with a large roll of cash
[14:20] {ese} the fact that they didn't get the easing to my mind means things are fine......
[14:21] {nemo} diaper, hemmrhoid pillow, and KY
[14:21] {Threei}  you haven't read that post ese...
[14:21] {ese} not yet
[14:21] {Threei}  please do
[14:21] {nemo} I pick up the  percosets later
[14:21] {Threei}  there is absolutely nothing fine
[14:22] {nemo} stop to b/e
[14:22] {Threei}  very different considerations influence the timing of more easing
[14:23] {nemo} he won't move until Europe does, he has to worry about the strength of the dollar against the Euro
[14:23] {nemo} more at .00
[14:23] {nemo} When Euro starts printing, he'll have to print to keep the value of the $ down
[14:23] {Threei}  better yet, EU falls apart - he won't have to do antyhing but print dollars into huge demand
[14:23] {nemo} stop to .59, I prefer .69 but it doesn't make sense
[14:24] {dino} i think thts correct vad
[14:24] {nemo} o.k. up to .69
[14:24] {RonS} $10 gold bounce
[14:25] {Threei}  I am telling you... while they of course make all the PC sounds about how they want EU to survive, its collapse is their wet dream
[14:26] {ese} big economic picture things are not fine i get that.....i'm just concentrating on what i see in front of me at this moment....that fomc didn't make 2 hoots of a difference to my overall feelings about this's negative ....and thats always in the back of my mind when i make a trade
[14:26] {nemo} out .68
[14:26] {nemo} I may regret that
[14:26] {nemo} yeap
[14:26] {Threei}  well, the idea is:
[14:27] {nemo} x drips .82
[14:27] {nemo} looky
[14:27] {Threei}  market wants to go up if there is additional easing
[14:27] {Threei}  because it means additionasl money ingflux
[14:27] {nemo} shorted .81
[14:27] {Threei}  so it creeps up in hope for easing to be hinted clearly in the ;anguage, if not announced outright
[14:27] {ese} ya definitely.....
[14:27] {nemo} stop is above .90
[14:27] {Threei}  and drops when there is none of that
[14:28] {Threei}  that's how Fed=related part looks
[14:28] {Threei}  then there is EU-related part
[14:28] {Threei}  existential threat
[14:29] {nemo} cmon .71
[14:29] {nemo} yeah
[14:29] {nemo} that's better
[14:29] {nemo}  stop is .86
[14:29] {ese} lol.....thats a good one...existential threat
[14:29] {ese} i like that
[14:29] {nemo} frig me on tna
[14:29] {RonS} what?...Federal Reserve says economy has slowed, signals new steps to boost growth at 2-day meeting
[14:30] {nemo} they assasinating Congress?
[14:30] {ese} huh
[14:30] {nemo} "signals new steps to boost growth at 2-day meeting"
[14:31] {RonS} when does play start...when coach signals...or when runner goes?
[14:31] {nemo} took more .61
[14:32] {RonS} these headline writers think they are selling something...
[14:32] {nemo} algos are writing headlines now Ron
[14:32] {nemo} stop is .76
[14:32] {RonS} at least not algores...
[14:32] {nemo} nice one Ron
[14:33] {dino} that was a good one
[14:33] {nemo} sublime
[14:33] {dino} of course, gore most likely invented algos
[14:34] {RonS} heard his cousin died...loved watching him debate buckley in '68during the dem convention
[14:35] {ese} it's double speak........things are the same
[14:35] {RonS} both those guys had an unparrelled command of the alnguage
[14:35] {dino} and yet... things are the same
[14:37] {nemo} yeah...thing of beauty
[14:37] {nemo} Plu c'est change, plu c'est le meme chose
[14:38] {nemo} ca
[14:38] {nemo} got stopped out last of X
[14:45] {nemo} short cat .80
[14:45] {nemo} stop above .90
[14:46] {nemo} partial .70
[14:46] {nemo} tight stop above .85
[14:46] {nemo} this is a bit stressful
[14:47] {nemo} stop to .80
[14:47] {nemo} look at this haammer
[14:48] {ese} good trade though nemo
[14:48] {nemo} out
[14:49] {nemo} sheesh
[14:51] {nemo} listening to commentary out of the futures's hand to hanc combat trying to keep this thing afloat
[14:53] {nemo} short small X .70
[14:53] {nemo} stop above .80
[14:53] {ese} ya know.......once again these fomc goofs have nothing positive to say about the country.......things have improved since the greedy meltdown.....people are working hard.....the countrys strong we can get through this ...etc etc etc......i rest my case with this Berdumb  dumb goof.   how about a little positive reinforcement for a change.....
[14:54] {Will49} tell us what you really think
[14:54] {ese} give people some hope........this ain't the end of the world
[14:54] {ese} although you can see it from nemo's place
[14:55] {dino} you have to understand ese, that the incombants' tactics are fear
[14:56] {ese} for sure eh
[14:56] {Threei}  also, this kind of thetorics is not FOMC department at all
[14:56] {Threei}  they deal (or at least should) in numbers
[14:56] {Threei}  not in touchy-feely phrases
[14:57] {Will49} have to keep the masses sedated
[14:57] {Threei}  the minute I see Fed chairman saying anything of this kind, I know last hope is lost
[14:57] {ese} lol.........good point
[14:58] {Threei}  that'd mean he lost last grip on reality and can only say feel-good things
[14:59] {Threei}  also, ese... why do you think ssying that things are good, or better, or anything like this, would make anything better? :)
[14:59] {Threei}  all you can get is irritate people more... they are not blind and know very well that things get worse
[14:59] {dino} ese, consider all the b.s. good talk out of the euro leaders.
[15:00] {Threei}  yep, they do just that
[15:00] {Threei}  look where it got them
[15:00] {dino} the world is in a very bad place at the moment, imo
[15:00] {dino} everybody has their finger on the sell button
[15:02] {Threei}  and some on a trigger
[15:04] {Threei} Short Setup: FCX  .60 break
[15:07] {ese} ya me included
[15:07] {Threei}  Invalidated
[15:08] {ese} ok then......on to something more important......stablizing the legs in the golf swing......on you tube
[15:18] {RonS}  NYSE to cancel certain trades in 6 symbols seen earlier in the day- Will cancel trades that were 30% above or below the opening price between the hours of 9:30 and 10:15ET - Following stocks: WZE, CO, UTG, EJ, ARC, KWK
[15:18] {Threei}  hopefully they cancel whole trade and not just one side of it, as NASDAQ often does
[15:22] {Threei}  I like FCX again
[15:22] {Threei}  .60 break
[15:22] {Threei}  thought of taking .70 actually... then fell asleep
[15:22] {Threei}  or faintred
[15:24] {ese} i'm in .62
[15:24] {dptl} long??
[15:25] {Threei}  not by me
[15:25] {ese} L
[15:25] {ese} out 1/2 .66
[15:26] {Threei} Short Setup: FCX  .70 break
[15:26] {Threei}  If holds  .75
[15:26] {ese} out full.74 +.12
[15:26] {Will49} ese da man
[15:27] {ese} vads call on that one
[15:27] {ese} tks vad
[15:32] {nemo} I would think we go higher on the spy from here to stop hunt
[15:35] {Threei} Long Setup:  FAS  .55 break hl
[15:35] {Threei}  vhange to .50
[15:36] {Threei}  Invalidated
[15:41] {Threei} Long Setup:  FAS  .20 break hl
[15:42] {Threei}  .09 stop
[15:42] {Threei}  half out
[15:43] {Threei}  .14 stop
[15:44] {Threei}  scalpers win
[15:49] {nemo} l spxu .95
[15:49] {nemo} oh jeez
[15:50] {ese} fcx
[15:51] {Threei}  time's running out...
[15:51] {Threei}  maybe a quick scalp FCX on long side
[15:52] {Threei}  .55 stop
[15:52] {ese} yup.....cya tomorrow
[15:52] {dolores} ok guys see you tomorow
[15:52] {dolores} take care
[15:52] {dolores}  thxs VAD
[15:53] {Threei}  take care dolores
[15:53] {dino} ty all for ideas. calling it a good day. tee time in 30
[15:53] {Threei}  have fun dino
[15:54] {dino} will do, thx
[15:54] {Threei}  ok guys, thank you all
[15:55] {Will49} by
[15:55] {Threei}  have a good evening, see you tomorrow
[15:55] {scottie} gn everyone, thanks Vad