Thursday, August 2, 2012

Aug .02 2012

Pretty nice day, with both good trades and good discussions in the room. Underestimated come trades' potential POT short in particular)  by taking 1:3 and watching them proceed much farther but that's August after all. Nice finishing trade on the last minutes cemented the day as nicely green.

Session Time: Thu Aug 02 00:00:00 2012
[08:38] {nemo} can you say whipsaw?
[08:44] {nemo} My proctologist would love this action, I'd have to go every week
[08:46] {nemo}
08:50] {Threei}  (EU) ECB's Draghi: ECB may undertake outright open market operations, such moves would be within ECB's mandate; may undertake other non-standard measures (confirms earlier press speculation)- To design framework for such measures over coming weeks. - Looking beyond the short-term, euro zone economy to recover only gradually. - There are many headwinds to growth: balance sheet adjustments, unemployment, the global slowdown, tensions in financial markets, possible medium-term increases in energy prices.
[08:51] {nemo} Boy is the pressure on the German Supreme Court or what?
08:51] {Threei}  I guess market is unimpressed
[08:51] {nemo} we dropped $2 in less than 10 minutes
[08:52] {nemo} Days like this make me glad I don't hold overnight
[08:58] {nemo} wow, would never have guessed this:
08:59] {Threei}  they needed a study for this?
[08:59] {nemo} government funded no-doubt
[08:59] {thomcbell} i would harbor an attraction for her too
[09:00] {jackharry} good morning
09:00] {Threei}  jack :)
09:01] {Threei}  "Ninety eight percent of the adults in this country are decent, hardworking, honest Americans. It's the other lousy two percent that get all the publicity. But then, we elected them." ~ Lily Tomlin
[09:02] {thomcbell} press conference on kcg ?
09:04] {Threei}  Knight Capital Group Inc. To realize a pre-tax loss of $440M related to August 1st disruption due to routing in NYSE-listed Securities; will pursue strategic and financing alternatives to strengthen capital- As previously disclosed, Knight experienced a technology issue at the open of trading at the NYSE yesterday, August 1st. This issue was related to Knight's installation of trading software and resulted in Knight sending numerous erroneous orders in NYSE-listed securities into the market. This software has been removed from the company's systems. - Clients were not negatively affected by the erroneous orders, and the software issue was limited to the routing of certain listed stocks to NYSE. - Knight has traded out of its entire erroneous trade position, which has resulted in a realized pre-tax loss of approx $440M. Although the company's capital base has been severely impacted, the company's broker/dealer subsidiaries are in full compliance with their net capital requirements. Knight will continue its trading and market making activities at the commencement of trading today. The company is actively pursuing its strategic and financing alternatives to strengthen its capital base.
09:05] {Threei}  unbelieavable
09:05] {Threei}  this single disaster day practically wiped them out
[09:05] {nemo} bunny is relentless....she stands next to the desk on her hindlegs begging for treats
[09:06] {RonS} gm...Freddy Mercury day
09:06] {Threei}  so's EY periphery
09:06] {Threei}  EU
09:06] {Threei}  ron :)
09:06] {Threei}  (DE) German opposiiton leader: ECB decision has only bought time and not a solution to the debt crisis
[09:06] {scottie} good morning everyone
[09:06] {RonS} another one bites the dust...
09:06] {Threei}  scottie :)
09:06] {Threei}  lol
09:07] {Threei}  and ,look how beautifully nature will work this one out
09:07] {Threei}  no bailouts, no aid of any kind
09:07] {Threei}  ket them fail, someone will buy leftovers if they are useful
09:08] {Threei}  and next time one of them installs new software, they'll double-check it 5 times
09:08] {Threei}  or maybe launch it limited to 2-3 names
09:08] {Threei}  then widen to 10
09:08] {Threei}  and only then unleash it fully
09:09] {Threei}  oh boy
09:09] {Threei}  (US) PIMCO's Gross: Comments of ECB's Draghi disappointing the markets
09:09] {Threei}  et tu Gross
09:09] {Threei}  at least he didn't do any study for this
[09:11] {nemo} should take tna here
09:12] {Threei}  Spanish stock market has plunged 600 points in last few minutes, now down 5%
09:12] {Threei}  Super Mario: uh oh... did I underpromise?
[09:13] {nemo}'s just money printing ain't gonna' get the job done
09:13] {Threei}  Super Mario: but it was going to just la few days ago
09:14] {Threei}  from twotter:
09:14] {Threei}  Size of measures "need to be adequate to reach their objectives." Ital has $2trn govvies. Spain $800bn. What's Italian for no es posible?
[09:15] {RonS} finito?
09:16] {Threei}  finito la comedy?
09:17] {Threei}  lost in all the EU noise:
09:17] {Threei}  US initial jobless claims rose 8,000 last week to 365,000
09:17] {Threei}  but hey, thr spin is good:
09:17] {Threei}  Initial Jobless Claims 365K versus cons of 370K
09:18] {Threei}  is there book titled "the culture of lies"?
09:18] {Threei}  if not, i want to write one
[09:19] {ese} morning
09:19] {Threei}  ese :)
[09:20] {ese} vad...what website if any do you use to tell you what sectors or industries are hot for the day......
[09:20] {cipher} gm
[09:21] {ese} C
[09:21] {RonS} heh, if draghi channeled freddy mercury...would that make him a draghi queen?
[09:22] {ese} ha ha
[09:22] {Beau} good morning all
09:22] {Threei}  cipher. beau :)
09:22] {Threei}  lol ron
[09:22] {thomcbell} Ronny!
[09:22] {ese} vad....question above
09:22] {Threei}  ese, I usuallu just look at typical stocks or ETFs, but there are a few sites with so called heatmaps
[09:23] {ese} hmmmmmm
09:23] {Threei}  don't have any of them handy
[09:23] {RonS} finviz
[09:23] {RonS} only stock though i think
09:23] {Threei}
[09:24] {ese} tks
09:24] {Threei}
[09:24] {ese} am curious.....don't really use them
09:26] {Threei}  Knight Capital Group Inc. Said to have approached JPM seeking an emergency loan - press- Reminder: Earlier Knight indicated it was to pursue strategic and financing alternatives to strengthen capital
[09:28] {RonS} tdc sm l 64.50
[09:29] {dolores} hello GM
09:29] {Threei}  dolores :)
09:30] {Threei}  KCG tries to bounce
09:30] {Threei}  and fails
[09:30] {dolores} are they going under?
09:31] {Threei}  unclear yet but their loss is very big
[09:34] {thomcbell} lvs impressive
[09:35] {nemo} small tna . .48
[09:35] {RonS} out tdc 66.50 +2.00
[09:35] {nemo} stop .35
[09:35] {dino} gm
09:35] {Threei}  dino :)
[09:35] {thomcbell} long setup aro 14.10 break if holding 13.80 - 1/3 lot for kicks
[09:36] {dolores} FSLR might offer some short today
[09:36] {thomcbell} target is 15 even
[09:36] {nemo} offering .65
[09:36] {nemo} l fslr .51
[09:37] {nemo} won't break, this stock will bolt if it breaks .50
[09:37] {nemo} in
09:38] {Threei} Short Setup: FCX  .80 break hl
[09:38] {nemo} partialed .68
09:38] {Threei}  ugh
09:38] {Threei}  late
09:38] {Threei}  ok, in
[09:38] {cipher} +.17 fslr thx nemo
[09:38] {nemo} yw
09:38] {Threei}  .86 stop
[09:38] {dptl} gm
09:38] {Threei}  dp :)
[09:38] {nemo} stop under .40
[09:38] {nemo} stop under .50 tna
09:39] {Threei} Short Setup: LVS  .95 break
09:39] {Threei}  If holds  .05
[09:39] {Will49} GM
09:40] {Threei}  will :)
[09:41] {thomcbell} out aro
09:41] {Threei}  (IT) Reminder: Italy PM Monti with Spain PM Rajoy press conference expected to start shortly in Madrid**Note: There has been press speculation that Italy's PM Monti would try to convince Spain to accept a formal full govt bailout (above and beyond the planned �100B Spanish bank bailout)
[09:44] {nemo} buying tna over .80
09:44] {Threei} Short Setup: FCX  33 break
09:44] {Threei}  If holds  .10
[09:45] {nemo} offering .95
[09:45] {nemo} yep
09:45] {Threei} Short Setup: FCX  .10 break
[09:45] {nemo} stop is under .75
09:45] {Threei}  stop .16
[09:46] {nemo} going for gap close me thinks however spy at weekl pivot
09:47] {Threei}  half out .02
09:47] {Threei}  stop to .11
[09:48] {nemo} partialed .24 on tna
[09:48] {nemo} stop under the whole
[09:49] {RonS} wtw on diet
[09:49] {nemo} cute
09:49] {Threei}  1/4 more out
09:50] {Threei}  .95
09:50] {Threei}  stop to .06
09:50] {Threei}  to .01
09:52] {Threei}  to ..96
[09:52] {cipher} WTW L .67
[09:52] {cipher} out 1/2 .90
[09:53] {nemo} l gmcr .71 small
[09:53] {nemo} stop under .55
[09:53] {cipher} stopeed on rest .65
[09:54] {nemo} pfferomg /85
09:54] {Threei}  to .91
[09:54] {nemo} scratching getting nuts
[09:54] {nemo} ticked .84 didn't get my .85
[09:55] {cipher} wtw l.20
[09:55] {cipher} out 1/2 .42
09:55] {Threei}  out
09:56] {Threei}  tried to get another leg under .80
[09:56] {nemo} l fslr break .00
[09:56] {cipher} out in full .78 +.58
09:56] {Threei}  wasn't in cards, so trailed tighter
[09:56] {nemo} nope, jumped my bid
09:56] {Threei}  good trail as turns out
[09:57] {nemo} oops looking wrong stock
[09:57] {nemo} whtf
[09:58] {nemo} fslr tightening up range
09:58] {Threei}  (ES) Spanish 10-year gov't yield moves back above the 7.0% level, higher by over 25bps post ECB press conference
09:58] {Threei}  KCG spike
09:58] {Threei}  (US) Chamber of Commerce: Recession likely if the US 'goes over the fiscal cliff'
[09:59] {dolores} nice bounce
[09:59] {dino} cnqr sm l .51
09:59] {Threei}  (DE) Germany Chancellor Merkel coalition ally Fuchs indicates opposition to the ECB's readiness to purchase bonds - financial press- Sees purchases of bonds taking pressure off of countries to conduct their reforms
09:59] {Threei}  *(US) JUN FACTORY ORDERS: -0.5% V 0.5%E
10:00] {Threei}  yikes
10:00] {Threei}  how's that summer of recovery going
[10:01] {dolores} they lost four times what they did in 2011?
[10:01] {dolores} thats bad
10:01] {Threei}  KCG?
[10:01] {dolores} yes
10:01] {Threei}  their loss in one day yesterday is 440 M
[10:02] {dolores} and they had profits in 2011 for 110 M?
10:02] {Threei}  looks like
[10:03] {dolores} FSLR breaking highs
[10:04] {nemo} I've got resistance at .40
10:04] {Threei} Long Setup:  SLW  .40 break
10:04] {Threei}  If holds  .35
[10:05] {cipher} wtw l .15
10:05] {Threei}  half out who got it
10:05] {Threei}  broke a bit too fast
[10:05] {dolores} too fast for me
[10:06] {cipher} out .30 +.15
[10:07] {cipher} WTW L.83
[10:07] {cipher} out 1/2 .10
[10:08] {dino} 07 green
[10:08] {cipher} out rest .57 +.74
10:09] {Threei} Long Setup:  MOS  .50 break hl
10:09] {Threei}  If holds  .40
10:10] {Threei}  Invalidated
[10:11] {nemo} spy wants to close the gap
[10:11] {dino} out cnqr .31, +.80
[10:12] {dino} no takers/
[10:12] {dino} ?
[10:13] {cipher} wtw l.83
[10:14] {cipher} out 1/2 00
[10:14] {nemo} first swing high on spy was S1 on the daily...fib extensions put the 61.8 at yesterday's close
10:14] {Threei} Long Setup:  POT  .90 break
10:14] {Threei}  If holds  .80
[10:16] {cipher} out rest wtw .38 +.55
10:17] {Threei}  wtg
[10:17] {cipher} ty
10:22] {Threei}  hmmm
10:22] {Threei}
10:22] {Threei}  look at the price
10:22] {Threei}  did I just die?
[10:23] {nemo} RIG  wtf
[10:23] {dolores} FSLR all over the place today
[10:24] {cipher} rig l.93
[10:24] {cipher} out .50
[10:24] {cipher} wow
[10:24] {nemo} conference call
[10:24] {cipher} thx nemo
[10:25] {nemo} l tna .51
[10:25] {nemo} stop .35
[10:25] {dolores} ccall on FSLR nemo?
[10:25] {nemo} playing the bull flag
[10:25] {dino} cnqr sm l .45
[10:26] {cipher} tna +.18 thx nemo
[10:26] {nemo} long run dolores want consolidation pull back, this was short covering
[10:26] {nemo} yw
[10:26] {nemo} partial .68
[10:26] {nemo} this is the spy close the gap run
[10:27] {dino} out cnqr .11, +.67
[10:27] {nemo} if we get above the gap, consolidate, and then starat moving up...ursine sodomy
[10:27] {cipher} wtg dino
[10:27] {dino} ty
[10:27] {nemo} partial .90
[10:27] {jackharry} out .93 tna, +.39, thanks nemo
[10:27] {nemo} stop .59
[10:28] {nemo} yw
10:28] {Threei}  33% Give Obama Excellent/Good Marks on Economy, But 49% Say Poor
[10:28] {dolores} still in POT right?
10:28] {Threei}  yes but strting to think, should have just taken little scalp
10:28] {Threei}  a bit rudderless
[10:29] {dolores} stop .79?
10:29] {Threei}  yes
[10:29] {dino} ugh cnqr goes another buck w/o me
[10:29] {dino} boil drop
[10:30] {cipher} boil l .35
[10:30] {dino} :)
[10:30] {nemo} out
[10:31] {cipher} stopped
[10:31] {nemo} fslr bounce territory next .20 cents
[10:31] {dino} that sucker let go
[10:31] {dino} vsm boil .13
[10:32] {dino} out boil .71, +.58
[10:34] {Will49} Will is envious
[10:34] {dino} don't be
[10:34] {Will49} ?
[10:34] {nemo} nav might be short if it drops .50
[10:37] {nemo} sheesh...that first hour felt like a whole day...grabbing my blanky, teddy, and bunny little nappy poo
[10:37] {Will49} and go to the bank:)
[10:38] {Will49} is that bad luck to say that?
[10:38] {nemo}'s not noon yet
[10:39] {nemo} mmhhhhh....
[10:39] {nemo} whaddya' think Vad?
10:39] {Threei}  me?
10:39] {Threei}  think?
10:39] {Threei}  kidding?
[10:39] {dino} feeling the same way nemo
[10:39] {nemo} not noon, busy morning
[10:39] {nemo} nobody's looking
[10:39] {nemo} and, I'm not really alone, so if I drink I'm not an alcoholic
[10:40] {nemo} Oh, I forgot
[10:40] {nemo} btw, bounce area iwm
[10:40] {nemo} I'm a drunk, alcoholics go to meetings
[10:40] {cipher} tna l.26
[10:40] {nemo} cipher read my mind
[10:40] {nemo} you need help...immediately
10:41] {Threei} Long Setup:  TXN  .70 break
10:41] {Threei}  If holds  .65
[10:42] {nemo} frickin nav
[10:43] {nemo} s nav .50 small
[10:43] {dino} one spike
[10:43] {cipher} aapl l.609
[10:43] {dino} damn can't borrow
[10:44] {nemo} can't borrow what dino
[10:44] {dino} one
[10:44] {cipher} out 1/2 tna.40
[10:44] {nemo} I partialed .39
[10:44] {dino} dropped 1.50
[10:44] {dolores} invalidted
[10:44] {dolores} or valid?
[10:44] {cipher} aapl stopped .90 -.10
10:45] {Threei}  Invalidated
[10:45] {nemo} partial .54
[10:45] {cipher} out rest tna .49 +.26
[10:46] {nemo} stop to be
[10:46] {nemo} b/e
[10:46] {dolores} POT was off .70
[10:47] {nemo} GMCR tight!!!!
[10:47] {cipher} freaking apple rinsed
[10:47] {dolores} almost did it but chickened
[10:47] {cipher} calling it a good day
[10:47] {cipher} see ya
10:48] {Threei}  take care cipher, great job
[10:48] {nemo} wiedersehen
[10:48] {nemo} scratching nav, this thing sucks
[10:50] {nemo} stop to .35
[10:50] {nemo} Australia's Finance Minister Says Bruce Springsteen Is Better At Reading The US Economy Than Actual Economists -
[10:51] {dino} cya cipher
[10:52] {nemo} l coh break of .10
[10:53] {nemo} needs to hold the whole
[10:54] {RonS} ...guess there's no money in it...International mediator Kofi Annan says he's quitting Syria role
[10:54] {nemo} wow
[10:55] {nemo} coming into vwap here
[10:55] {dino} lol, job security is an issue
[10:55] {nemo} wow...crazy day
[10:55] {dolores} must be some news
[10:55] {nemo} more retirement plan dino
[10:55] {dolores} now 60 points  down in secs
[10:55] {RonS} vmw smacked
[10:55] {nemo} wow 3.1 mil on spy
[10:55] {nemo} coh holding
[10:55] {nemo} interesting
[10:56] {nemo} l coh small above whole
[10:56] {nemo} stop below .90
[10:58] {nemo} two way below .90 support at .46
[10:58] {nemo} bi-trade
[10:59] {dino} stepping back, mkts confused
[10:59] {nemo} fits me to a "T"
11:01] {Threei}  (ES) Spain PM Rajoy: Spain and Italy affirm commitment to budget targets, agree on need to adjust public finances - joint Italian/Italian press conference- Italy PM Monti: Hopeful to see new EU banking regulations soon
11:01] {Threei}  why do these guys even meet?
[11:01] {dolores} FB holding
11:01] {Threei}  they may just as well skype each other,
[11:01] {Will49} more propaganda
[11:01] {nemo} so they can read their pronouncements in the newspaper
[11:01] {dino} mkt not buying it
11:02] {Threei}  say "as always?", nod and publish generic statement copied from last week
[11:02] {RonS} ...for the catering...
[11:02] {dino} most likely ron is correct
[11:02] {nemo} and likely the caterer's help
11:02] {Threei}  how many times do they need to "affirm commitment to budget targets"?
[11:03] {dolores} until germany belives them !! JAJA
[11:03] {dolores} no one does
11:03] {Threei}  well... catering...
11:03] {Threei}  see, I could understand why they met while previous italian guy was at the heln
11:03] {Threei}  helm
11:03] {Threei}  berlusconi
[11:03] {nemo} .60 area spy and .65 area iwm bounce
11:04] {Threei}  those meetings must have been fun as long as he took liberty to furn ish them with enetrtainment as he understood it
[11:04] {nemo} l small fslr .51
[11:04] {nemo} stop under .40
[11:05] {nemo} mmhhh, scratching
[11:05] {nemo} getting drop feel
[11:06] {dino} lol
[11:07] {dolores} COH hold .60
[11:07] {dolores}  is that support?
[11:08] {dino} good gut feel on drop nemo
11:09] {Threei}  it's support... but the real question is, whether it's going to hold
[11:11] {nemo} this is support area for COH
11:11] {Threei} Short Setup: POT  .60 break
[11:11] {nemo} below this, it's a long ride
[11:12] {nemo} l tna .71 small
[11:13] {nemo} bidding .79 for partial
[11:13] {nemo} offering
[11:13] {nemo} you know what I mean
[11:13] {nemo} yahoo
[11:13] {nemo} not the ticker
[11:14] {nemo} we bounced at spy monthly pivot
[11:14] {nemo} btw, COH drops here goes for a while
[11:14] {nemo} scratching IWM below b/e
[11:14] {nemo} tna
[11:14] {nemo} sorry
[11:14] {nemo} out
[11:15] {nemo} big volume COH
[11:15] {nemo} shorting a little COH .55
[11:15] {nemo} stop above .60
[11:15] {nemo} look .50
[11:15] {nemo} look
11:15] {Threei}  1:1
[11:16] {nemo} flashed bid
11:16] {Threei}  half out
[11:16] {nemo} COH imo, drops .50 good short
11:16] {Threei}  scalpers be free
[11:16] {dino} gmlp drop
[11:16] {nemo} sound like a hippie Vad
[11:16] {dino} wtf was that 30-23
[11:16] {nemo} nice offer at .60, good R/R here
[11:17] {nemo} if that bid flashes at .50 again and starts to get hit, I'm adding
[11:19] {nemo} partial .40
[11:19] {nemo} DIE COH SCUM!!!!
[11:19] {nemo} stop is .50ish
11:20] {Threei}  1:2
[11:20] {nemo} .32 offer
11:20] {Threei}  1/4 more out
[11:20] {nemo} partialed some more .28
[11:21] {nemo} stop .40ish
[11:22] {nemo} out
[11:23] {dino} gj
[11:23] {ese} L tie .01.........this runs slower than snake crud
[11:23] {nemo} cam
[11:23] {nemo} damn
[11:23] {nemo} missed
11:25] {Threei}  1:3 close enough, out
11:25] {Threei}  .33
11:25] {Threei}  thing of beauty, clean DBI
11:25] {Threei}  don't tell me no one took it
[11:26] {nemo} I was busy
[11:26] {dino} gj vad
[11:26] {Will49} I was stupidly following one of nemos ideas
[11:26] {nemo} frig wanted tna .46 jumped to .48
[11:27] {nemo} we're going up again
[11:27] {Will49} Annan must have changed his mind
[11:27] {dino} cnqr sm l .95
[11:29] {Will49} egads
[11:30] {dino} out cnqr .32, +.37
11:32] {Threei}  allow me to copy/paste a brief response I've made elsewhere about EU situation
11:32] {Threei}  IMO, they are in a spot with no solution at all.
11:32] {Threei}  Cutting spending by indebted countries is that same austerity that is killing Greece, as economy comes to a screeching halt. Not cutting spending is a) digging deeper hole and b) impossible as lenders stop lending or hike the interest beyond bearable. This situation is created by excessive borrowing in the past that built up huge segment of economy working to satisfy debt-fueled demand. No more borrowing means this demand dries up. Maintaining this demand requires more borrowing... which is impossible because of lenders stopping lending... etc, circle is closed.
11:32] {Threei}  The whole construct is non-viable, it had an expiration date on it from the get-go and current situation is merely the end of the rope. Debt exceeding ability to repay it can be extinguished by default or printing; their attempts to outwit this simple fact are akin to Baron Munchausen's idea to lift himself by hair out of a swamp. See "bootstrapping."
[11:33] {Will49} no kidding
[11:34] {nemo} small fcx .71 l
[11:34] {nemo} looking for .95
[11:35] {dino} agree 3i. for ove a year i have stated they are screwed by giving up their ability to print
[11:36] {nemo} hah, COH hits my original stop and drops
[11:38] {RonS} LO, even smokes taking a hit
[11:38] {nemo} out
[11:39] {Will49} Annan quit again
[11:39] {nemo} where you been Will, Mars?
[11:40] {Will49} Venus
[11:40] {Will49} we venecians have a weird sense of humour
[11:41] {Will49} and we can't spell either
11:42] {Threei}  you have nothing on us, inhabitants of Titan
11:42] {Threei}  we have sirens
[11:42] {Will49} I've been assigned to monitor RT by my leader Kofi Annan
[11:43] {Will49} He'll be here in person to straighten you guys out once and for all
11:44] {Threei}  why? what's his beef with us?
[11:44] {Will49} i'm just mentally wandering
[11:44] {Will49} don't make me justify my metaphors:)
[11:45] {dino} his beef, "evil speculators"
11:45] {Threei}  oh
[11:45] {Will49} yeah...that's good enough reason
11:46] {Threei}  right... forgot who we are
[11:46] {Will49} also, Kofi loves to travel and stay in nice hotels
11:46] {Threei}  put him in Days Inn
[11:46] {Will49} don't you have a spare bedroom?
11:47] {Threei}  promise his great location right at the harbour... but make sure his room is right above the restaurant
[11:47] {nemo} I thought I'd give him one with an underwater view
[11:47] {Will49} I'll email him right now
[11:47] {Will49} OK Vad, pay attention to your scanner, I need somepractice
[11:48] {nemo} fslr
[11:51] {nemo} l tna .42
11:51] {Threei}  The ECB rate decision was the event of the morning, and Draghi's failure to provide more specifics about the bond buying he hinted at last week have slammed European equities. The actual policy announcement was no surprise, with rates firmly on hold, but Draghi's remarks were seen as very disappointing by markets. The essence of his remarks are that the ECB may launch a bond buying program but it has not decided to do so as of yet, and in any case it would not move to buy bonds unless individual euro zone governments asked the EFSF/ESM bailout funds for help first.
[11:51] {nemo} stop under .30 small btw lunchtime
[11:51] {nemo} ow
11:52] {Threei}  . In the meantime, the ECB has asked its committees to flesh out possible bond buying strategies after providing them with "guidance." The plan will be very different from its prior SMP bond buying plans, with a concentration on the short end of the curve. Peripheral yields had contracted ahead of the decision, but after the press conference yields on the longer end of the curve staged a dramatic reversal, with both the Spanish and Italian 10-year yields moving from -10bps in the session to trade +20 bps.
[11:53] {dino} good thing knights opps wasn't today instead of yesterday
[11:54] {nemo} o.k. think 136 spy bottom
[11:55] {nemo} fslr worth a shot here with stop .85 to test highs
[11:56] {nemo} oh well
[11:57] {nemo} watch, this little flush will be it
[11:57] {nemo} wanted tna .32, jumped my bid
[11:57] {RonS} reason DECK is down?  Knight Has ‘All Hands on Deck’ After $440 Million Bug
[11:58] {nemo} ese!  rim shot please
[11:58] {dino} cnqr sm l .93
[11:58] {nemo} I'm going to regret not getting that tna
[11:58] {nemo} yep there goes fslr
[11:58] {nemo} edit yourself nemo
[11:59] {nemo} gmcr probably will test also\
[11:59] {nemo} fslr
[11:59] {nemo} sorry
[12:06] {dino} cnqr stop -.31
[12:08] {nemo} l  gmcr .31 small
[12:08] {nemo} stop under .15
[12:09] {nemo} arguably tna .50 break is a loong, stop under .40 keep it small
[12:10] {nemo} moving stop up tp .20 on gmcr
[12:11] {nemo} if tna holds .40 I feel better about the .50 break
[12:13] {nemo} offering .39 on gmcr
12:13] {Threei}  oh boy
12:13] {Threei}
[12:13] {nemo} changed to .38 look .39
[12:14] {RonS} if you were ese would be .38927
[12:15] {RonS} wlt kind of a beast today
[12:16] {nemo} finally
[12:16] {nemo} next offer .49
[12:17] {nemo} that was easy
[12:17] {RonS} wtg
[12:17] {nemo} now leave the rest for the ride
[12:18] {nemo} target 25.60
[12:18] {nemo} yeah....right
[12:18] {nemo} TNA is how you
[12:19] {nemo} stop under .60
[12:19] {nemo} actually, guess I hve to put it under .50
[12:20] {nemo} yep
[12:21] {nemo} wtf
[12:21] {ese} tie stopped..76 -.25 daaaaa
[12:21] {nemo} missed it
[12:22] {nemo} stop still under .50
[12:23] {nemo} tna break .40 looks interesting
12:23] {Threei} Long Setup:  KCG  .50 break
12:23] {Threei}  Invalidated
[12:23] {nemo} vad...peeing my pants on that one
[12:24] {RonS} 3 mil shares in 2 min...get me a diaper...
[12:24] {nemo} stop moving up to .69 on GMCR
[12:25] {nemo} stop to .79...hate to leave .69
[12:26] {nemo} woodness
[12:26] {RonS} lol
[12:27] {nemo} stop to .89ish
[12:27] {nemo} indexes dropping  
[12:27] {nemo} calling it 24 even
[12:27] {nemo} indexes bothering me
[12:29] {nemo} oh oh
[12:29] {nemo} throw the women and children overboard
[12:30] {nemo} sorry dolores...nothing personal
[12:30] {nemo} testing premarket lows iwm
[12:31] {nemo}
[12:36] {nemo} we're getting capitulation volume on spy at S3 daily which is the yearly R1, would think they try to retest 136 135.20 is QPP
[12:36] {nemo} I need to get out more
12:37] {Threei}  lol
[12:37] {nemo} thought that might get a rise out of you
[12:38] {nemo} I'm having images of Jack Nicholson on the typewriter
[12:39] {Will49} heeer's NEMO!
[12:39] {nemo} Eqzaktly...btw, 3 min chart looks fairly strong
[12:39] {dino} cnqr sm l .75
[12:40] {nemo} after 3 days of sitting at your desk naked, without shaving or showering, you have to become concerned
[12:40] {nemo} very interesting dion vwap at 63.40 and indices ripe for a turnaround
[12:40] {nemo} dino
[12:42] {dino} watching it
[12:43] {nemo} test of 136 coming spy
[12:47] {nemo} wow 30 min chart of iwm is a stilleto heel
[12:47] {nemo} is that a valid chart formation?
[12:47] {RonS} will someone get draghi off the can?...
12:47] {Threei}  rofl
[12:47] {nemo} bidet Ron
[12:48] {nemo} and he's washing out his mouth
[12:48] {nemo} rough crowd
12:52] {Threei}  boy, did I cover POT too soon
[12:54] {ese} ya ya......i see that ya ya........STILLETO HEEL....i'm in synce with nemo...awesome
[12:54] {nemo} meds ese....meds...remember I'm possessed
[12:55] {ese} lol
[12:55] {ese} this is not my type of day........have no feel for anything
[12:57] {dino} ssllapppppppppppppp. wake up ese
[13:08] {dino} out cnqr .73 ave +.98
13:08] {Threei}  wtg
[13:08] {dino} ty
[13:10] {ese} L ocz .80
[13:12] {nemo} Ron Dino, RGR
[13:12] {dptl} L vlo .81 .74 stop
[13:13] {dino} ntls drop
[13:14] {ese} actually it is .80663321   blast off
[13:14] {dino} rgr good report
[13:14] {nemo} yeah, big rev beat
[13:14] {nemo} no surprise
[13:14] {nemo} they sell all guns with Obama targets
[13:14] {nemo} oops
[13:15] {nemo} Janitor!!!
[13:15] {ese} lol
[13:15] {ese} poor buggar........
[13:15] {dino} sm l .50
[13:15] {dino} rgr
[13:16] {nemo} NYSE bracketing bid and offers
[13:16] {dptl} half out vlo .91
[13:16] {ese} most significant thing i've learned on this board?
[13:16] {nemo} think 46.80 possible
[13:16] {ese} suspense is killing you isn't it...........
[13:16] {nemo} not really
[13:17] {ese} dont tick nemo off!
[13:17] {nemo} why, my acid tongue?
[13:17] {nemo} I'm just a bunny lover
13:17] {Threei}  good one dp
[13:17] {ese} keller you mean
[13:17] {ese} killer
[13:17] {Will49} way to go DP
[13:18] {nemo} nope...I only kill animals when I'm going to eat them
[13:18] {dptl} ty
[13:18] {ese} nice dp
13:18] {Threei}  people on the other hand...
[13:18] {nemo} Korreqt
[13:18] {Will49} mmmm rabbit stew
[13:19] {nemo} no...How to Serve Man
13:19] {Threei}  looking at KCGm I think it will lose 3, dive sharply, then recover quickly and violently
[13:19] {nemo} Anybody get the reference?
[13:19] {dino} yes
[13:19] {nemo} I thin it's actually "To Serve Man"
[13:19] {nemo} well, you see dead people, duh
[13:19] {dino} twilight zone was't it
[13:20] {nemo} yep
[13:20] {ese} ahhhhhhh
[13:20] {nemo} "It's a cookbook!"
[13:20] {ese} didn't get that
13:21] {Threei}  to serve man?
13:21] {Threei}  I have a quote...
13:21] {Threei}  ... it was twelve o'clock but General Rodrigo de Aguilar was not arriving, someone started to get up, please, he said, he turned him to stone with the fatal look of nobody move, nobody breathe, nobody live without my permission until twelve o'clock finished chiming, and then the curtains parted and the distinguished Major General Rodrigo de Aguilar entered on a silver tray stretched out full length on a garnish of cauliflower and laurel leaves, steeped with spices, oven brown, embellished with the uniform of five golden almonds for solemn occasions and the limitless loops for valor on the sleeve of his right arm, fourteen pounds of medals on his chest and a sprig of parsley in his mouth, ready to be served at a banquet of comrades by the official carvers to the petrified horror of the guests as without breathing we witness the exquisite ceremony of carving and serving, and when every plate held an equal portion of minister of defense stuffed with pine nuts and aromatic herbs, he gave the order to begin, eat hearty gentlemen.
13:21] {Threei}  The Autumn of the Patriarch
13:22] {Threei}  that's how the mutiny headed by aforementioned general was supressed
[13:22] {dino} mg drop
[13:24] {dino} mg sm l .75 ave
[13:26] {dino} .49 is stop
[13:26] {dino} stopped
[13:26] {nemo} I like closer to 19, with suport in the 18.80 area
[13:26] {ese} hmmmmm didn't read anything there that an AK47 couldn't solve....
[13:26] {nemo} but I have fib support at .50 also
[13:27] {dino} 18.50 i see
[13:28] {nemo} plus natural support at the whole
[13:28] {nemo} not my kinda' volume stock anyway
[13:29] {dino} takes .50 re-load
[13:30] {dino} giddy-up
[13:30] {nemo} tempting tna long here
13:35] {Threei} Long Setup:  POT  .10 break
13:36] {Threei}  If holds  42
13:36] {Threei}  target 1:3
[13:42] {nemo} tna l .41 small
[13:42] {nemo} stop under .30
[13:43] {nemo} nice bid under me now at .43
[13:43] {nemo} sorry
[13:43] {nemo} wrong stock
[13:48] {dptl} come on pot...go
[13:48] {Will49} go potty
06[13:48] * Threei kicks POT in the rear
[13:49] {nemo} so juvenile
13:49] {Threei}  hmmm... where the heck its rear...
[13:49] {nemo} int the pottom
[13:49] {dino} that sounds bad
[13:49] {nemo} summer trading is brutal for the psyche
13:49] {Threei}  well, thag's nemo for ya
[13:49] {Will49} and the bottom
[13:50] {nemo} TMI
[13:50] {nemo} YEah, baby partialed .51
[13:50] {nemo} held on by the proverbial hair
[13:50] {dino} gj
[13:51] {nemo} ty only .10 but it was so close, next time I look it took my offer in the blink of an eye
[13:51] {nemo} and now it might stop out on the other side
[13:51] {nemo} blink of an eye, snap of a sphincter
[13:51] {dino} getting out mg some .01, .07, remainder .03, +.51 ave
[13:51] {nemo} nah, not the same poeticism
[13:52] {nemo} bless you dino
[13:52] {dptl} can we trail under .04 now pot
[13:52] {nemo} Rorschach trader that you are
[13:52] {dino} roflol
[13:52] {nemo} you ever see that movie?
[13:54] {dptl} no fill at .20 yet
[13:55] {dptl} Vad where is your stop now?
[13:55] {nemo} out
[13:55] {dino} no
[13:55] {nemo} The Watchmen, great movie
13:55] {Threei}  .04
[13:56] {nemo} damn, probably got rinsed on my stop
[13:56] {dptl} ok
[13:58] {nemo} .50 level gmcr
[14:03] {dptl} i am out flat pot
[14:03] {nemo} gonna start a small short if gmcr begins to drop that .50
[14:04] {nemo} in
[14:04] {nemo} oh oh
[14:05] {nemo} bid .36
[14:05] {nemo} ok
[14:05] {nemo} stop to b/e
[14:06] {nemo} out
[14:06] {nemo} that low was fib ratracement of the run from yesteday's low
[14:07] {nemo} lot more teeth pulling after this morning
14:08] {Threei}  (ES) Spain banks set to formally request aid in the upcoming days - financial press- Reminder: The bank of Spain on 7/31 commented that the audit of Spain banking sector had been completed, with final results to be released in the 2H of September
14:11] {Threei}  KCG bottom is nowhere in sight yet it seems
14:11] {Threei}  loss of 3 didn't lead to fast dive
14:15] {Threei}  really not sure why I haven't partialed out at .19
14:16] {Threei}  must have fainted at the moment
[14:20] {nemo} amazingly dead so far this afternoon
[14:21] {Will49} Kofi Annand's fault
[14:26] {nemo} boy did I get disconnected at the wrong time
[14:38] {dptl} can't beleive this pot.....must from BC
[14:40] {nemo} would think they want to keep it above .36
14:44] {Threei}  there seems to e a campaign by idiots who don't understand what tape reading is, givong TTR 1 star because "there is no tape reading in it"
14:45] {Threei}  for some reason I get private e-mails by those who loved it but public reviews by those who didn't
14:45] {Threei}  don't know why those who like it are so shy, unlike those who never got to look into what tape reading really is,
14:45] {Threei}  and think it's staring at T&S window
14:46] {Threei}  been years since I've written this:
14:47] {Threei}  but who bothers to read things
14:48] {Threei}  world full on lunatics... one gives 1 star to MPP because amazon mixed up something and sent him wrong book
14:48] {Threei}  how on earth this translates into poor rating of MPP in his warped mind is beyond me
[14:55] {scottie} Rated it 5 a while ago Vad
14:55] {Threei}  :)
15:09] {Threei}  sheesh POT
[15:10] {dptl} telling you  it's a BC
[15:11] {Will49} BC Bud our biggest agricultural product
[15:11] {Will49} so I've heard
[15:12] {dptl} yep
[15:12] {thomcbell} kcg another break
[15:12] {Will49} break and a half
15:13] {Threei}  you know, many years of trading taught me that any money made in august day should be framed
15:13] {Threei}  and today is profitable
15:13] {Threei}  so no complaints
[15:13] {ese} I've got to take off everyone.......I have a meeting re the Symphony Splash here in Victoria(playing on a gigantic barge in the middle of our harbor).....catch you tomorrow...still L ocz .80
15:14] {Threei}  KCG, that absence of fast action on 3 break was a clue that se,lling isn't done yet
15:14] {Threei}  take care ese
[15:14] {ese} cya vad
15:14] {Threei}  in fact, it may never be done
15:15] {Threei}  it trades like badly damaged goods
[15:15] {dino} cya ese
[15:15] {dino} so far august been very good to me
[15:16] {Will49} Martin Armstrong predicts market panic this month
15:16] {Threei}  I know why dino
15:16] {Threei}  EU
15:16] {Threei}  causes volatlity, volume, fear
15:17] {Threei}  unlike usual august when nothing happens
[15:17] {Will49} a fine time I've picked to learn this business
15:17] {Threei}  as much as I skeptical about gurus and their predictions, I wouldn't dismiss this possibility, will
15:18] {Threei}  Armstrong is not just another guru
[15:18] {Will49} :):(
[15:18] {dino} you are right vad. i need the volitility for my edge
15:18] {Threei}  and situation is very very precarious
15:18] {Threei}  yes... and I need volume
15:18] {Threei}  my setups work so-so in low volume l,istless environment, and the more volume we have the better they work
[15:19] {Will49} so this predicted panic will be goo?
[15:19] {Will49} good?
15:19] {Threei}  oh yes
[15:19] {dptl} got to go..see ya tomorrow
15:19] {Threei}  you should see our record during selloff of 2008
[15:19] {Will49} smoke em if you got em DP
15:20] {Threei}  take care dp
[15:20] {dptl} lol
[15:20] {dptl} i wish
[15:20] {dino} indeed will, very good for trading
[15:20] {dino} cya dp
[15:20] {Will49} made my day
[15:20] {Will49} dino's comment
15:20] {Threei}  think of it this way:
15:21] {Threei}  1. a lot of volume means both sides particpate, smart money and crowd, and out setups are based on using one against the other
15:21] {Threei}  2. strong selling goes against the crowd, and our setups are based on going against the crowd
15:22] {Threei}  3. strong selling is very hostile environment for investors and very favorable for traders, adn we are on the extreme part of the specter, to traders; side
15:23] {Threei}  put all three together, and you can see how we run for 2 or 3 months during fall of 2008 with no single losing day
[15:23] {Will49} yea...thanks for reminding me
[15:23] {dino} panics = profits
[15:24] {dino} my way of trading most days, stock drops fast (panics) i buy, spikes hard (euphoria) i sell
[15:25] {Will49} I think I learn more from you're (all of you) advice than doing demo trades
[15:27] {dino} vc drop
15:28] {Threei}  it all combines will
15:28] {Threei}  peices of puzzle
15:28] {Threei}  words, actuasl expwerience, visuals
15:28] {Threei}  sooner or later you hear click
15:28] {Threei}  and things suddenly become so very clear
[15:29] {Will49} come on clear
15:29] {Threei}  read stages of trader's development in psychology part of the blog again
[15:30] {Will49} actually, things are getting clearer one itsy bit every day
15:30] {Threei}  right
15:30] {Threei}  but at somepoin t there will be transition from quantity to quality
15:30] {Threei}  some kind of threshold
15:30] {Threei}  after which you just won't believe how simple things become
15:31] {Threei}  and won't understand why you made them so complicated before
[15:31] {Will49} I hope it's soon...I don't even buy green bananas at my age
15:31] {Threei}  lol
[15:31] {Will49} Tks vad
15:31] {Threei}  come on... I am not sure I'd want to compete with you in weight lifting
[15:32] {Will49} that was a halogram you say
[15:32] {Will49} saw
15:32] {Threei}  well, it was very fir hologram
15:32] {Threei}  fit
[15:32] {Will49} tks
[15:33] {dino} you 49 will?
15:33] {Threei}  last attemopt to squeeze something out of today:
[15:33] {Will49} i have kids older than 49
15:33] {Threei} Long Setup:  FCX  .50 break
[15:33] {dino} lol, ok then
15:35] {Threei}  .44 stop
15:44] {Threei}  half out
15:45] {Threei}  stop to .49
[15:48] {RonS} +.11 thanks 3i
15:48] {Threei}  1/4 more out
15:48] {Threei}  :)
[15:48] {dino} gj
15:48] {Threei}  unexpectedly nice move into close
15:48] {Threei}  thought I'd be lucky to get 6 cents
15:51] {Threei}  stop .54 last piece
[15:53] {dino} mhp spike
15:54] {Threei}  McGraw-Hill Inc PE firms said to be interested in making bids for the education unit - financial press
15:54] {Threei}  purrrfekt
15:54] {Threei}  out .68
15:54] {Threei}  thank you all, have a great evening
15:54] {Threei}  see you tomorrowq
[15:55] {Will49} Thanks for everything you guys! Am away tomorrow
[15:55] {dino} thx for ideas all, gn