Monday, August 6, 2012

Aug .06 2012

Low volume, narrow range, slow trading. Barely positive, thanks to finishing TZA trade that exploited end of day selloff.

Session Time: Mon Aug 06 00:00:00 2012

[09:01] {jackharry} good morning
[09:01] {Threei}  jack :)
[09:07] {nemo} Another frickin' Monday
[09:09] {Threei}  good morning to you too
[09:09] {nemo} that wasn't nice....
[09:09] {scottie} gm
[09:09] {Threei}  scottie :)
[09:14] {_napolm01} gm allI am new to the room
[09:15] {nemo} mmmmhhhhh....I might like this guy
[09:16] {dolores} hello there GM
[09:17] {Threei}  napolm, dolores :)
[09:18] {_napolm01} hi
[09:18] {_napolm01} i am back after a 1 year vacation
[09:18] {_napolm01} i just finsed up my mba so i need to focus on that
[09:20] {Threei}  napolm, make sure to go over to get in the room flow eay
[09:22] {_napolm01} ok
[09:22] {_napolm01} thanks
[09:22] {Threei}  sure
[09:22] {_napolm01} is there supposed to be vol, or a way to make sure my speakers are working?
[09:23] {Threei}  no, it's a read only
[09:23] {RonS} gm...hehe
[09:23] {Threei}  ron :)
[09:23] {_napolm01} ok
[09:24] {_napolm01} thx
[09:24] {Threei}  so, market seems to believe ECB will turn into lender of last resort with unlimited license to unsterlized bond purchases
[09:24] {_napolm01} and I assuming calls will come into the other window #floor (9)
[09:25] {Threei}  they come in both channels
[09:25] {_napolm01} k thanks for the input
[09:25] {Threei}  #floor mirrors this channel, but it has no other comments
[09:25] {Threei}  so it's easier to scroll and see my calls with no chatter
[09:25] {ese} gm
[09:26] {Threei}  ese :)
[09:26] {ese} ahhhhh.....
[09:27] {dolores} KCG saved with 400 mil
[09:27] {dolores} the stock is down on dillution or what?
[09:27] {Threei}  yes but at the price much worse than Fri buyers hoped
[09:27] {Threei}  pretty much, yes, about 60% in one shot
[09:27] {Will49} gm
[09:27] {Threei}  will :)
[09:28] {dolores} ok thxs
[09:28] {Threei}  BBY... owner's buyout offer
[09:28] {Threei}  notice LVS weakness
[09:28] {Threei}  money laundering probe
[09:29] {ese} wern't they Bitc&&%# about the NYSE having problems a while ago?
[09:31] {Beau} good morning all
[09:31] {Threei}  beau :)
[09:31] {ese} beau
[09:31] {Threei} Short Setup: FCX  .85 break hl
[09:32] {Threei}  If holds  .95
[09:32] {Threei}  target .65, two partials
[09:33] {Threei}  1:1
[09:33] {Threei}  stop to .91
[09:34] {dptl} gm
[09:34] {Threei}  dp :)
[09:37] {Threei} Long Setup:  CAT  .20 break hl
[09:37] {Threei}  closed FCX
[09:38] {Threei}  CAT, if you got it, stop under .10
[09:38] {RonS} HCA sm l .50
[09:38] {Threei}  1:1
[09:40] {Threei} Long Setup:  TZA  .10 breal
[09:40] {Threei}  If holds  .05
[09:41] {Threei}  CAT 1:2, out
[09:41] {dolores} TZA triggered?
[09:41] {dolores} was fast
[09:41] {dolores} in
[09:41] {Threei}  no go
[09:42] {dolores} out
[09:44] {Threei}  let's let it make another leg down, then look for better entry
[09:47] {Threei} Long Setup:  TZA  .95 break
[09:48] {Threei}  If holds  .90
[09:48] {Threei}  tight stop reversal hunt
[09:48] {dolores} in
[09:49] {dolores} stop at .89
[09:49] {Threei}  this kind of action may require several tries, so picking entry points with very tight stops
[09:50] {Threei}  no go
[09:50] {dolores} out
[09:50] {nemo} We're going for forever today
[09:50] {dolores} missed the first two calls pity
[09:51] {dolores} entry again .95 break?
[09:51] {Threei} Short Setup: LVS  .70 break
[09:51] {Threei}  If holds  .80
[09:51] {Threei}  target .40
[09:51] {dolores} in LVS
[09:51] {RonS} out hca .95  +.45
[09:51] {Threei}  wtg
[09:52] {nemo} ctsh
[09:53] {nemo} spy at upper channel trendline
[09:53] {Threei}  not liking how LVS holds
[09:54] {nemo} yeah, above .80 it's a long
[09:54] {Threei}  that's where our stop is
[09:55] {Threei}  time to die LVS
[09:55] {Threei}  good boy
[09:55] {Threei}  die more
[09:55] {Threei}  is there such thing as "die more"?
[09:56] {Threei}  1:1
[09:56] {Threei}  first partial, stop to .71
[10:02] {Threei} Long Setup:  SLW  .20 break
[10:04] {Threei}  LVS, scalpers win
[10:05] {Threei}  SLW stop .13
[10:06] {Threei}  target .45
[10:13] {Threei}  first partial
[10:14] {Threei}  stop to .18
[10:15] {scottie} +.10 ty Vad
[10:15] {Threei}  yw
[10:15] {Beau} vad how do you handle SLW kind of movement.  I bid 22 while it sat at 20, it jumbed to 23 and did you get?
[10:16] {Threei}  it pulled back after initial break
[10:16] {Threei}  was easy to get in
[10:16] {Threei}  don't chase beyond your treshold of tolerance, wait for pullback
[10:17] {Threei}  if it comes back to pick you up, great
[10:17] {Threei}  if reaches 1:1, no secondary entry
[10:18] {Beau} came in late after your call. must have missed trigger and only saw pullback 20.  thanks for clearing up.
[10:18] {dolores} LVS at HOD
[10:18] {Threei}  10:02 call, 10:05 break, pullback with second chance in 2 min
06[10:19] * Threei slaps cc_8 around a bit with a large mechanic alarm clock
[10:20] {Threei}  good boy SLW
[10:20] {Beau} thought the gun wasn't loaded. learned and thanks
[10:20] {Threei}  second partial out, stop to .24
[10:21] {nemo} l lvs .01
[10:22] {nemo} stop under .80
[10:22] {nemo} well, if it gets back there
[10:25] {nemo} l coh .90
[10:25] {nemo} stop .75
[10:26] {nemo} partial just under the whole unless theat offer drops
[10:26] {nemo} holding
[10:26] {Threei}  stop to .29 for the last piece
[10:28] {dino} rtgr sm l .98
[10:28] {nemo} stop to .85
[10:29] {nemo} bbb a short looks like against .60 or .70
[10:29] {dino} rgr
[10:30] {ese} I have to go back to bed.......played the Symphony Splash here yesterday on a barge in the middle of the of the tugs broke down so we couldn't get our gear off last night ....had to do it at 4:30 am this looking at my screens with glazed eyes.....
[10:30] {Threei}  oh boy
[10:31] {nemo} oh yeah...likely story
[10:31] {ese} may catch you all later
[10:31] {Threei}  local paper is full of photos ese
[10:31] {ese} was a good show though
[10:31] {Threei}  raving about you
[10:31] {ese} havenn't seen them yet....any of us
[10:31] {Threei}  yes
[10:31] {ese} or just the symphony
[10:31] {Threei}  no, your band
[10:31] {Threei}  nice photos
[10:31] {nemo} short bby .49 stop .60 ish
[10:32] {ese} the Times Colonist vad?
[10:32] {Threei}  yes
[10:32] {Threei}  ok SLW, last push to the target please
[10:32] {Threei}  hold on, let me see if I can find
[10:32] {ese} tks....will pick one up later...cya
[10:33] {Threei}  target hit
[10:33] {Threei}  out in full
[10:33] {Will49} nice call Vad
[10:33] {_napolm01} very nice!
[10:33] {Threei}  finally something worked for more than a lousy scalp
[10:34] {nemo} partialling bby .35 bid
[10:34] {nemo} stop .50
[10:35] {Threei}  nice on BBY
[10:36] {Threei}  while we babysit silver, nemo is pounding electronic retailer
[10:38] {nemo} spy looks ready to break again, probably goes to .50 if it does
[10:38] {Threei}  don't you hate it
[10:46] {RonS} hearing assad killed...
[10:46] {RonS} info from russian...
[10:46] {RonS} russians
[10:47] {dolores} where did you hear that RonS?
[10:48] {Threei}  SY) Syria President Assad is said to have been killed or injured - Tweet from Russian official- No official news outlet has authenticated this claim.
[10:49] {Threei}  {Russian Official} now that I've put the bottle down... what did I tweet over last couple hours?
[10:52] {dino} rgr stop
[10:53] {dolores} LVS at HOD again
[10:57] {Threei} Short Setup: CLX  .55 break hl
[10:58] {Threei}  If holds  .65
[10:59] {dolores} not triggered right?
[11:00] {Threei}  not yet
[11:00] {dolores} thxs
[11:01] {dolores} FCX at HOD
[11:02] {Threei} Short Setup: CAT  ,70 break
[11:02] {Threei}  If holds  .80
[11:03] {nemo} I
[11:03] {Threei}  Invalidated  CAT
[11:03] {nemo} two way
[11:03] {nemo} but given the morning ru you would think things quiet down for awhile
[11:03] {Threei}  I wouldn't
[11:04] {Threei}  this market tends either to reverse or stay glued to the high
[11:04] {Threei}  so while short has chance to work, long is less likely
[11:04] {nemo} yeah, although been bottoming nicely on the daily
[11:04] {Threei}  trues
[11:04] {Threei}  -s
[11:05] {Threei}  just too high chance to rin into one of those hours-long consolidations
[11:05] {nemo} yeah...but I'm also thinking ab out the illogic of the market
[11:05] {nemo} financials pinned to their highs
[11:06] {Threei}  Liquor Lack Alert: nemo's thinking!
[11:07] {Threei}  while CLX decides to trigger or invalidate,
[11:07] {Threei}
[11:07] {Threei}  where is Raven... it's up his alley
[11:08] {dolores} LVS at HOD again
[11:09] {RonS} heard Canadian holiday over weekend?  ese hungover?
[11:09] {nemo} wpw fcx
[11:09] {Threei}  he performed at Symphony' Splash yesterday
[11:10] {dolores} triggered
[11:10] {Threei}  yes
[11:10] {Threei}
[11:12] {RonS}, guess you could say he is a little beat up?
[11:13] {Threei}  he says a lot... I say nothing a good 6-pack of beer wouldn't cure
[11:13] {RonS} for thos who don't know...ese is a drummer amongst other things...
[11:13] {Threei}  .50 break should send CLX down screaming
[11:15] {thomcbell} short setup - fcx 34.79 break if holding 34.90
[11:16] {thomcbell} but.........this is the most consistent it has been in its intitial strength in some time
[11:17] {thomcbell} target is 34.60 or about 1:2
[11:19] {nemo} it would be hard, but I've got long setups on spy and IWM wouldn't think they could go further, but this is where they would
[11:22] {dolores} CLX slowly creeping up
[11:23] {dolores} out?
[11:23] {Threei}  no go
[11:23] {thomcbell} im tightening this fcx to 34.78
[11:24] {Threei}  - European equities extended their rally from Friday this morning as optimism about the ECB's new stance on bond buying continued. US equities advanced in the premarket and are hitting fresh three-month highs in a quiet session, with relatively low volumes.
[11:24] {thomcbell} fcx 1:1
[11:24] {thomcbell} took half
[11:24] {Threei}  nice
[11:24] {thomcbell} at 34.70
[11:25] {RonS} Knight Asked SEC to Cancel Trades – SEC Did the Right Thing: They Said NO
[11:25] {nemo} well, read was right, just no risk/rward setup worth it
[11:25] {Threei}  (RU) Russia interior Ministry now formally denies earlier chatter that Assad may have been killed or injured today - financial press- Reminder: Earlier a supposed tweet from an interior Ministry official indicated as much, with follow up reports indicating the twitter account was indeed fake
[11:26] {Threei}  funny world we live in
[11:30] {dolores} what a drop`
[11:30] {dolores} dow
[11:30] {Threei}  no news yet
[11:30] {dino} fosl sl s .96 ave
[11:33] {Threei}  re: Knight and canceling trades... there is a definition of so called "clearly erroneous trade." If NITE's trade didn't match it, no ancel. But if they did, then SEC was wrong. Can't judge without knowing it
[11:35] {thomcbell} covered the balance of fcx at 34.60
[11:35] {thomcbell} sorry had to step off
[11:36] {RonS} ...on visit to cboe it was said that 50% of those on floor were there to pull the plug on the computers if something went goofy...where was their guy/gal?
[11:37] {Threei}  that's mystrey to me, how this could have been allowed to continue for 30 min
[11:38] {thomcbell} the whole thing was way too fishy
[11:38] {thomcbell} is
[11:46] {dolores} is that pattern in the dow 1 min like inverted cup and handle?
[11:46] {nemo} mmhhh, spy and IWM potentiall setting up IH&S patterns
[11:46] {nemo} and they look like bull flags
[11:46] {dino} cov fcx .54, +.25, ty tbell
[11:48] {thomcbell} kool
[11:50] {thomcbell} etn long setup 44.30 break if holding 44.24
[11:52] {dino} fosl stop -.20
[12:15] {nemo} iwm and spy will not hold below the 23.6 retracement on the day and again is looking long, and this is the lull time when moves are made
[12:32] {nemo} cat small long .66 stop under .55
[12:33] {nemo} hate it when the 1 minute bar is all you
[12:33] {Threei}  lol
[12:34] {nemo} IWM and SPY sneaking up to he breakout line
[12:34] {nemo} thougth you were in a coma 3i
[12:34] {Threei}  I am
[12:34] {nemo} ahhh
[12:35] {nemo} weird...when I'm reading or writing like something on in the background
[12:35] {nemo} NFLX has all the original star trek tv shows....I can't believe I found a couple I hadn't seen
[12:37] {nemo} looking for bby to hold .60
[12:37] {dolores} LVS all over the place today
[12:39] {dino} scanners are dead
[12:39] {nemo} good movie
[12:39] {Threei}  rofl
[12:39] {nemo} gona partial .74 if the trading gods allow
[12:42] {nemo} stop to .64
[12:42] {nemo} should probably keep it under .60
[12:48] {nemo} stop to .74
[12:50] {nemo} futures sentiments on NAS and SEP almost vertical.  Dow lagging Cash sentiment strong
[12:51] {Threei}  now... when I close my eyes and envision the day Euro is pronounced non-salvagable, I can't help but lick my chops
[12:52] {nemo} here comes the stop hunt
[12:53] {nemo} listen, the bears are bending
[12:57] {nemo} hehehe, had the finger on the trigger but didn't stop out, thought that might happen
[12:58] {nemo} makes me think indexes want higher, bout would think spy would want to stop out longs just below the whole
[12:58] {nemo} lotsa fluttering in cat LII, hfts
[13:00] {nemo} jpm vwap, might be a scalp there
[13:01] {Threei}  British bank accused of hiding 60,000 transactions worth $250 billion with Iranians, NY regulator says
[13:03] {Threei}
[13:36] {Threei}  VPHM halt
[13:40] {Threei}  no news for SPY drop
[13:40] {Threei}  not much of a drop either
[13:41] {nemo} it touched vwap and bounced
[13:41] {scottie} Gives an idea of the day if you call that a drop lol
[13:41] {Threei}  I'll be consistent and say "not is there much of a bounce
[13:41] {Threei}  hehe... right
[13:42] {nemo} well, futures are dropping only thing holding it up are cash futures
[13:42] {dino} zzzzzzzzzzz dji stuck in 20 pt range for 3 hours
[13:52] {nemo} looking for short setup now
[13:53] {nemo} tza or spxu on pullback
[13:59] {nemo} small spxu .91 stop under .80
[14:03] {dino} fosl sm s .48
[14:09] {dino} cov .33, +.15
[14:16] {nemo} mmmhhh...this might work
[14:17] {nemo} mmmhhh...quite the offer at 43
[14:22] {Threei}  VPHM
[14:22] {Threei}  ViroPharma Incorporated Receives FDA Approval of Cinryze� (C1 Esterase Inhibitor) Industrial Scale Manufacturing- FDA has approved the supplement to the Cinryze Biologics License Application (BLA) for industrial scale manufacturing changes. As previously announced, the company expects completion of labeling for previously produced vials to take approximately six weeks before entering into the trade.
[14:23] {nemo} Great futures looking liek they're going to move up again
[14:24] {nemo} nflx moving up
[14:24] {nemo} sctr hight not be far behind then
[14:29] {nemo}
[14:33] {scottie} lol
[14:35] {Threei}  VPHM trades quite calmly for such news and gap
[14:36] {dolores} yes last move up went from 24 to 31
[14:36] {RonS} what great resolution on that being there...
[14:39] {nemo} yeah, made me want to buy popcorn
[14:40] {Threei} Short Setup: VPHM  .70 break hl
[14:40] {Threei}  If holds  .80
[14:41] {Threei}  1:1 if you happen to get it
[14:42] {scottie} too fast for me
[14:43] {Threei}  thought it was, pretty much for anyone but those who'd take aggressiuve entry
[14:50] {nemo} next drop below .80 i'm out
[14:50] {Threei} Long Setup:  CAT  .80 break hl
[14:51] {Threei}  If holds  .70
[14:56] {nemo} I'm frickin still in...sheesh
[15:01] {nemo} I"m getting waterboarded by this trade
[15:02] {Threei}  you mean you don't deserve it?
[15:02] {Will49} Dick Cheney is a friend of mine
[15:02] {Threei}  lol
[15:02] {nemo} Dolores...would you check out for a minute or so
[15:02] {nemo} ?
[15:03] {Threei}  no way
[15:03] {dolores} ok
[15:03] {nemo} Get the Janitor
[15:03] {Threei}  don't even
[15:03] {dolores} stop cat .69?
[15:03] {nemo} frickin' Htra Zhoppa
[15:03] {Threei}  CAT is about to, how do you spell it
[15:03] {Threei}  iksplode
[15:03] {Threei}  yes, this it
[15:03] {Threei}  yes dolores
[15:04] {nemo} o.k. all futures turning down
[15:04] {Threei}  ugh
[15:04] {nemo} wow tna only done about half normal volume
[15:04] {Threei}  stopped
[15:04] {Threei}  yeah... hate this kind of days
[15:04] {nemo} what was that you were saying red eye
[15:05] {Threei}  low volume, narrow range
[15:05] {nemo} [15:03] {&Threei}  you mean you don't deserve it?
[15:05] {dolores} out
[15:05] {nemo} I'm still in and you're stopped
[15:05] {nemo} Phhhhhhhhhtttttttt!
[15:06] {nemo} I should probably take half a stop and declare victory
[15:11] {dolores} NEMO what were you into?
[15:11] {RonS} besides peyote?
[15:11] {nemo} I still am...spxu
[15:11] {nemo} Psylocibin
[15:11] {RonS} lol
[15:11] {nemo} smoking opium
[15:11] {RonS} classic
[15:11] {nemo} ty
[15:12] {nemo} crushed up bunny dung?
[15:16] {nemo} wow, this might actually work
[15:16] {dolores} whats your entry?
[15:18] {dolores} .91
[15:18] {dolores} saw it
[15:18] {nemo} oh sorry
[15:18] {nemo} yes
[15:18] {nemo} ctrl-f
[15:19] {Threei} Long Setup:  TZA  .80 break
[15:20] {nemo} well, that makes me feel better
[15:20] {Threei}  I take it back then
[15:21] {dolores} in  TZA
[15:21] {Threei}  stop .73
[15:22] {nemo} tnis is vwap
[15:22] {nemo} this is
[15:31] {Threei}  NYSE volume 420M shares, about 20% below its three-month average; . - NASDAQ volume 1.19B shares, about 12% below its three-month average
[15:31] {RonS} cya tomorrow everyone...
[15:32] {Threei}  take care ron
[15:32] {Threei}  (EU) ECB's Hansson (Estonia): ECB govt bond buys will be sustainable and substantial; May discuss bond purchases in September- Focus on the constitutionality is the key issue for bond purchases. - ECB would purchase short-term securities in line with traditional central bank measures; Would leave purchases of longer-term bonds for govts. - EFSF would buy bonds in the primary market. - ECB and EFSF would act in combination. - Another LTRO may be considered if deemed as the optimal option. - Bond buy sterilization to depend on economic environment. - There is no risk of deflation; Inflation trends are positive. - GDP expected to remain sluggish.
[15:33] {Threei}  they serioasuly intend to proceed with unlimited and unsterilized bond purchase
[15:33] {Threei}  I can hardly believe it
[15:39] {Threei}  (GR) IMF calling on euro zone to reduce Greece bailout debt; Debt needs to be reduced to sustainable levels - financial press (update)- Greek govt debt ratio needs to be closer to 100% of GDP by 2020
[15:39] {Threei}  by what means?
[15:40] {Threei}  simple forgiveness?
[15:40] {Threei}  yeah right
[15:41] {Threei}  ok SPY, lose 140 and die
[15:41] {scottie} Gonna regret that hard stop at .73
[15:42] {Will49} you're not alone
[15:42] {Threei}  hard stops be damned
[15:43] {Will49} learning...learning'
[15:43] {Threei}  it barely touchd .73
[15:44] {Threei}  great... study shows chemotherapy can help tumors spread
[15:44] {dolores} dow down more than spy
[15:45] {Threei}  on behalf of thousands sufferers, thank you big pharma
[15:48] {nemo} I got 1:1
[15:48] {nemo} just call me Job
[15:48] {nemo} I'm declaring victory gnite'
[15:50] {nemo} hard stops in this slow an environment...
[15:52] {Threei}  half out TZA
[15:52] {Threei}  stop to .79
[15:54] {dptl} gn all
[15:55] {Threei}  take care dp
[15:55] {Threei}  come on TZA
[15:55] {Threei}  last push
[15:55] {Threei}  5 min
[15:56] {Threei}  wow
[15:56] {Threei}  nice selloff
[15:56] {Threei}  1/4 more out .91
[15:57] {Threei}  stop .84
[15:57] {dino} gn all, slow day for me
[15:58] {Threei}  same here
[15:58] {dolores} ok guys see you tomorrow
[15:58] {Threei}  out last piece
[15:58] {Threei}  .93
[15:58] {Threei}  whew
[15:58] {Will49} nice patience
[15:58] {Threei}  thank you all, have a good evening
[15:58] {Threei}  see you tomorrow
[15:58] {dolores} thank you VAD
[15:58] {scottie} gn
[15:58] {dolores} see you tomorrow gn