Wednesday, September 26, 2012

Sep 26 2012

ATTENTION: There won't be logs posted till Tuesday Oct 2. If you want to register for a trial, hold your horses till then. Do not forget to check the log over the weekend for Nemo's Last Week, Next Week post. There won't be market week wrap-up either.

Decent day, no interesting trades to show though. Time to pack for the Toronto conference, back on Tuesday.

Session Time: Wed Sep 26 00:00:00 2012
[08:52] {goryl} gm
01[08:55] {Threei}  morning
[08:57] {cipher} gm
01[08:59] {Threei}  cipher :)
[09:02] {jackharry} good morning
01[09:02] {Threei}  jack :)
[09:12] {scottie} gm
01[09:13] {Threei}  scottie :)
[09:21] {ese} gm
01[09:21] {Threei}  ese :)
[09:22] {Will49} Good morning!
01[09:22] {Threei}  will :)
[09:22] {Beau} gm
01[09:22] {Threei}  beau :)
[09:22] {ese} vad Will Beau
[09:26] {nemo} Beau, sorry I missed your question, what was it again?
[09:29] {nemo} numbers at 10
01[09:30] {Threei} Short Setup: FCX  39 break hl
01[09:30] {Threei}  yeah right
01[09:30] {Threei}  lol
[09:30] {jackharry} A little too fast!!
[09:30] {Will49} yikes
[09:31] {robbers} too late to get in? lol
01[09:31] {Threei}  hehe
01[09:31] {Threei}  40 cents drop in one gasp
[09:31] {nemo} no, go ahead, just adjust your stop
[09:31] {nemo} teensie weensie bit
01[09:31] {Threei}  I mean 45
01[09:32] {Threei} Short Setup: SLW  39 break hl
01[09:32] {Threei}  37
01[09:33] {Threei}  If holds  .10 
[09:34] {jackharry} Oh come on!!
01[09:34] {Threei}  how about that
01[09:36] {Threei}  another 40 center with no chance to enter
[09:36] {robbers} rude of it not to wait for us
01[09:37] {Threei}  yes but gives me a chance to practice my rhyming
[09:37] {Beau} nemo, interested in your spike play.   how you define spike-points up,or numb bars or time or?. how volumn fits in. and drops will happen after first down bar?  take your time will be here.
01[09:38] {Threei} Long Setup:  LVS  .85 break hl
[09:38] {Beau} your years of experience in one minute
01[09:38] {Threei}  1:1
01[09:38] {Threei}  any better than first two?
[09:38] {jackharry} nope
[09:38] {scottie} no
01[09:38] {Threei}  thought so
[09:39] {Will49} no
01[09:40] {Threei}  same setup once again, LVS
01[09:41] {Threei} Long Setup:  FCX  .05 break hl
01[09:41] {Threei}  If holds  38 
01[09:41] {Threei}  both are invalidated
01[09:41] {Threei}  FCS 38 break
01[09:41] {Threei}  FCX
01[09:42] {Threei} Long Setup:  SLW  .40 break
01[09:43] {Threei} Long Setup:  FCX  .90 break
01[09:43] {Threei}  10 cents stops on both
01[09:44] {Threei}  SLW 1:1
01[09:44] {Threei}  ditto FCX
01[09:45] {Threei}  both were obtainable this time around
[09:45] {scottie} + .15 on both, ty Vad
01[09:45] {Threei}  :)
[09:46] {jackharry} caught both, thank you
01[09:46] {Threei}  yw
[09:47] {dptl} gm
[09:49] {jackharry} had offer on fcx of 38.08, which was its high, but didnt hit, got taken at .98 on trail which was annoying, however had offer on slw of .58 which was also its high and it did hit so cant complain 
01[09:49] {Threei}  FCX reached it now
01[09:49] {Threei}  dp :)
[09:50] {nemo} arguably long setup spy iwm
[09:51] {nemo} methinks this is shakeout action before the housing numbers
[09:51] {robbers} Oil under $90 FWIW.
01[09:52] {Threei}  good but give me a shout when it's under 30
01[09:52] {Threei}  where it should be with this economy
01[09:52] {Threei}  and would be if not OPEC monopoly
01[09:53] {Threei} Long Setup:  LVS  .55 break
01[09:54] {Threei}  change to .50
01[09:56] {Threei}  stop .44
[09:58] {dptl} anf .20 long?
[09:58] {nemo} and the number is....\
01[09:58] {Threei}  chart is right but let's wait out numbers
[09:59] {nemo} yep
[09:59] {dptl}  right, numbers..ty
[09:59] {nemo} numbers good
01[10:00] {Threei}  nope
01[10:00] {Threei}  373 v 380
[10:00] {nemo} frickin' pessimists
01[10:01] {Threei}  lol
01[10:02] {Threei}  no go LVS
[10:02] {nemo} Jews skipping work today
01[10:04] {Threei}  ANF worked nicely
[10:05] {dptl} vlo 31 short?
01[10:05] {Threei}  yup
[10:06] {scottie} amx s .60 ?
01[10:07] {Threei}  probably not
[10:08] {scottie} ok
[10:09] {dolores} hello GM
01[10:09] {Threei}  morning dolores
[10:10] {nemo} kors
[10:10] {nemo} too late
01[10:10] {Threei}  look at FCX
01[10:11] {Threei}  did we nail that reversal point wth cent-precision or what
[10:11] {dptl} damn vlo too fast 
[10:12] {Will49} understatment
[10:12] {scottie} missed it too dp
[10:13] {dptl} there was not a chance ...well .97 had just like half a sec chance and thats it
[10:14] {nemo} 143.72 spy is weekly S3
01[10:16] {Threei}  National Daily Tracking: #Obama: 46%, #Romney: 46%
[10:17] {dolores} I think they mamaged to hold JCP yesterday to short it! hammered again
[10:18] {scottie} amx l .80 ?
01[10:19] {Threei}  hard to tell
[10:20] {scottie} in .81 small stop .74
[10:20] {nemo} rht below 54
[10:21] {nemo} Hlf
[10:21] {nemo} sorry
[10:22] {goryl} Vad, doesn't SMX look like a JBE setup? why would you discard it?
01[10:24] {Threei}  AMX?
[10:25] {goryl} y
01[10:25] {Threei}  it does but its range is a bit too narrow
[10:25] {nemo} you're looking for a long in a down tape goryl..setup can be good, market not
01[10:25] {Threei}  combine mine and nemo comment and you have this:
[10:25] {dolores} new sell off or is there support?
01[10:26] {Threei}  with narrow range, stock is likely to take long time to move singficantly enough for a worthy profit,
01[10:26] {Threei}  and in the market that is generallyy trending down, it simply may not have enough time, bounces are short-lived
[10:26] {dptl} hes .45 short?
[10:27] {nemo} goryl...only news or heavily shorted stocks have a chance to go up in a down tape
[10:27] {nemo} as a rule
01[10:27] {Threei}  I think so HES
01[10:27] {Threei}  dolores, breakdown is more likely
[10:28] {dptl} in hes
[10:28] {dptl} .55 stop
[10:28] {nemo} rht battle at .00
[10:28] {goryl} nemo, what do you mean by down tape?
[10:29] {nemo} market red and dropping
[10:29] {goryl} indices
[10:29] {goryl} ok
[10:29] {nemo} sorry
[10:30] {nemo} spy volume
[10:30] {dptl} half out
[10:34] {dptl} aaaand out
[10:34] {dptl} ty
01[10:34] {Threei}  nice
[10:35] {scottie} gj dp
[10:35] {dptl} ty
[10:36] {Will49} wtg dp
[10:36] {dolores} any news or more of the same?
[10:37] {nemo} RHT a short
01[10:38] {Threei}  worsening situation with Spanish bond, bad German auction, riots
[10:38] {dptl} hes may be .20 s ?
[10:39] {scottie} rht +.12 tks nemo
[10:39] {nemo} ;-)
[10:40] {nemo} likely goes to .50ish
01[10:40] {Threei}  I doubt it, HES
[10:44] {scottie} amx out +.10
[10:46] {nemo} long argument here for iwm and spy
[10:48] {nemo} cat
[10:48] {dptl} ah vlo vlo...:) it's even came back but i wasnt looking
[10:49] {ese} kinda a watchin morning for me.........have to go but may catch you later
01[10:49] {Threei}  take care ese
[10:51] {scottie} aig l .40 ?
01[10:51] {Threei}  yes
01[10:52] {Threei}  if holds .30 of course
[10:53] {scottie} in aggressive .38
[10:53] {scottie} stop .29
[10:59] {dptl} met .70 s?
[10:59] {scottie} out aig
[11:00] {dptl} in met .69
[11:01] {dptl} stopped met
[11:09] {nemo} thinking vwap run here 
[11:11] {nemo} shakeout first before run?
[11:16] {scottie} aig rinse
[11:18] {nemo} spy to vwap
[11:19] {nemo} iwm .11 cents to go
[11:39] {dptl} jcp .95 l?
01[11:40] {Threei}  50/50
[11:42] {dptl} 100sh took just to play around
01[11:42] {Threei}  QCOR, what a persistent disaster
[11:43] {nemo} support at 0
[11:43] {Will49} good way to stay awake dp
[11:43] {dptl} lol
[11:44] {dptl} out
[11:44] {dptl} :)
[11:45] {scottie} good call dp
[11:45] {Will49} excellent call
[11:45] {nemo} iwm at vwap
[11:45] {scottie} ok excellent :)
[11:45] {dptl} ty...ty very much
01[11:45] {Threei}  That does it. Dp replaces me for the next 3 days
[11:46] {dptl} oops.....i have to deal with nemo too?
01[11:46] {Threei}  yup
01[11:46] {Threei}  trde insults
01[11:46] {Threei}  trade
[11:46] {dptl} oh boy
[11:47] {Will49} we're behind you till your nose bleeds dp
01[11:47] {Threei}  rofl
[11:47] {dptl} lol...thanx 
[11:48] {Will49} lookit that JCP sucker go!
01[11:48] {Threei}  - Risk assets are getting pummeled as anti-austerity protests in both Athens and Madrid turn violent and the fiscal crisis in Spain's regions goes from bad to worse. In Madrid, police are using rubber bullets and teargas against protesters and analysts fear that the conflict between the government and Catalonia could become a major problem.
[11:49] {Will49} "may" become a major problem????
01[11:49] {Threei}  Behind the scenes it is assumed that PM Rajoy is preparing to request ESM help, although in public he continues to insist that Spain will not request more aid beyond the standing bank bailout "unless yields rise too high." At the same time, the Northern European eurozone states Germany, Finland and the Netherlands seemed to suggest that any aid Spain receives for its banks might remain on its public debt.
[11:50] {dolores} spain has financed already 83 % for 2012 or so they say
[11:50] {dolores} Rajoy is trying to avoid more conditions
[11:51] {dolores} and waiting for Italy to support on both asking a bailout with less conditions
[11:51] {dolores} germany already said no
[11:51] {nemo} swk
01[11:51] {Threei}  which of course immediately puts Greece and Ireland right back on the defensive
[11:52] {dolores} yes
01[11:52] {Threei}  "if we git thokse suffocating austerity conditions, how come they don't"
[11:52] {dolores} Rajoy is starting to annoy evryone
[11:52] {dolores} in europe!
01[11:52] {Threei}  and Monti already threatening to quit
[11:52] {dptl} anr .72 l?
01[11:52] {Threei}  whole thing is ridiculous
01[11:53] {Threei}  if want a fight for 5 cents
[11:53] {dolores} cat SHORT 86.59?
01[11:53] {Threei}  yes
[11:53] {nemo} vwap .46
[11:53] {nemo} suport at .42
01[11:53] {Threei}  if stays under .70
01[11:55] {Threei}  here are 5cents
[11:56] {dptl} ye but i skiped it 
[11:56] {dptl} will go to .85 most likly
01[11:56] {Threei}  Justin Trudeau throws his hat in
01[11:58] {Threei}  I can see Harper jumping up and down
01[11:58] {Threei}  CAT is valid IMO
[12:00] {dolores} Seems to be following the markets 
[12:00] {dptl} mcp .50 l ?
[12:01] {nemo} cat looks bull flaggish
01[12:01] {Threei}  yes MCP
[12:06] {dolores} CAT breaking up
01[12:09] {Threei}  MCP nears 1:1
[12:09] {dptl} out
[12:09] {dptl} just scalp for me 
[12:11] {dolores} wow dow green
01[12:11] {Threei}  thia must be the most hilarious thing I've heard this election cycle
01[12:11] {Threei}
01[12:12] {Threei}  7 and half minutes that will destroy your faith in democracy
[12:29] {dolores} CAT short about here'
[12:29] {dolores} ?
[12:29] {dolores} keeps bouncing
01[12:33] {Threei}  feels done to me
01[12:33] {Threei} Short Setup: CAT  .30 break
01[12:33] {Threei}  If holds  .40 
01[12:45] {Threei}  (ES) Spain Govt said to be planning to place a hold on civil servant wages for 2013 and restriction in hiring as part of budget program to be announced tomorrow - financial press
01[12:47] {Threei}  check if Q COR shortable for you
01[12:47] {Threei} Short Setup: QCOR  .25 break
[12:51] {dolores} CAT rinsed
[12:57] {dolores} back up again
[12:57] {dolores} today CAT really following the market
[12:59] {dptl} mcp .70l?....although it's lunch time
01[13:00] {Threei}  can't tell
[13:01] {dptl} ye kinda ify
01[13:04] {Threei}  (ES) Spain PM Rajoy: Spain is determined to address its budget deficit- European project is irreversable.
01[13:05] {Threei}  I'll take that bet
[13:18] {dolores} CAT in full force today
[13:19] {nemo} it was so extended on the daily that's why I figured it was a bullflag
[13:19] {dolores} what you mean by extended oversold?
[13:19] {nemo} yeah
[13:21] {dptl} len .20 l ?
[13:24] {nemo} resistance at .30
[13:24] {nemo} nope
[13:24] {dptl} half out
[13:24] {scottie} gnc l 37 ?
[13:25] {robbers} nice dp!
[13:25] {Will49} tks dp
01[13:26] {Threei}  now dp... practice answering questions
01[13:26] {Threei}  GNC?
[13:26] {Will49} dp 3 vad 0
[13:26] {Will49} :)
[13:26] {dptl} ty
[13:27] {dptl} great mentor i have...could not do it with out you Vad
[13:28] {nemo} looks like we run green rest of day
[13:28] {Will49} we love you vad
01[13:28] {Threei}  yeah yeah
01[13:31] {Threei}  GNC works
[13:31] {nemo} isn't it funny how a couple of percentage points down on the indexes everything get's so gloomy
[13:31] {scottie} didn't take it
[13:33] {scottie} ir l .90 ?
01[13:36] {Threei}  nah
[13:40] {dptl} was waching pelicans catching fish yesterday...i wish i could have one as a pet in Vancouver to bring me salmon......nice city that SanDiego...flying back home tomorrow
[13:41] {Will49} did you get to the zoo?
[13:41] {Will49} world renown
01[13:41] {Threei}  really fantastic zoo
[13:42] {dptl} unfortunatly not this time , will vizit next and stuff, didt have time....but ye i heard it's the place to visit
[13:44] {jackharry} visited the zoo about 16 years ago, certainly put the so-called zoo here at home to shame
[13:45] {Beau} does it still have train carry you around the grounds??
[13:45] {Will49} where's home jack?
[13:45] {jackharry} Northern Ireland
[13:46] {Will49} cool!
[13:46] {jackharry} dont know about cool, but certainly cold!
[13:46] {jackharry} and wet
[13:47] {Will49} but charming, no doubt
[13:47] {dptl} and good beer
[13:47] {jackharry} yep
[13:47] {Will49} well, any place with good beer is a good place
[13:48] {dptl} :) true
01[13:48] {Threei}  bus, beau
[13:54] {dolores} CAT nice movement today
[13:55] {nemo} gild looks weak
[14:01] {goryl} Vad, will the room be open tomorrow?
01[14:01] {Threei}  room will be open of cpurse
01[14:01] {Threei}  I won';t be here but fear not
01[14:01] {Threei}  dp will
[14:02] {nemo} raven will be babysitting
[14:02] {dptl} lol
01[14:02] {Threei}  no, you will be babysitting and raven will be overseeing you
[14:02] {nemo} what a visual...a bird sitting overhead...not comfortable with that
01[14:02] {Threei}  good
01[14:02] {Threei}  we don't want you comfortable
[14:05] {dptl} you coming back monday?
01[14:05] {Threei}  Tuesday
01[14:05] {Threei}  monday is on the road
[14:05] {dptl} i see
[14:10] {dolores} i will be off thursday and friday
[14:11] {cc_8} i will be here though
[14:11] {nemo} goog ripping
[14:11] {nemo} well that gives me the warm and fuzzies
[14:11] {nemo} not
[14:12] {dptl} coh .80 s ?
01[14:12] {Threei}  I think so
[14:13] {nemo} no momentum anywhere
01[14:13] {Threei}  #Massachusetts: #Obama 55%, #Romney 40%
01[14:13] {Threei}  jeez nemo... this is how you do when not overseen
[14:13] {nemo} Mass never votes Republican...ever
01[14:14] {Threei}  good boy COH
[14:15] {nemo} think market in for a pop
01[14:15] {Threei}  1:1
[14:15] {dptl} out half
01[14:15] {Threei}  btw guys, don't forget to check nemo's over weekend writeup
01[14:16] {Threei}  there won't be e-mail with reminder
[14:16] {nemo} gonna' be relatively boring...have to update quarterly, monthly, and weekly levels...lotta' work
[14:17] {nemo} yeap, very stealthy break up
01[14:18] {Threei}  just record yourself doing rain dance, and it will be very entertaining
01[14:18] {Threei}  pinkish tutu...
[14:18] {nemo} just had this tweet come across:  I find the bacon shortage stories to be boring. First of all, I don't believe them. Second of all, I don't like "weird" econ stories.
[14:19] {nemo} Vad must be buying up all the inventory
01[14:19] {Threei}  yeah, I decided to corner pork belly market
[14:19] {Will49} yeah Vad, don't be piggish
[14:20] {Will49} or pinkish
[14:21] {nemo} anybody for a pru bounce play at .30ish?
[14:23] {dolores} .30?
[14:23] {nemo} .30ish
[14:23] {nemo} in that area
[14:24] {dolores} if it gets there+
[14:24] {nemo} yep
[14:24] {dolores} ok
[14:28] {dptl} stop to .75 coh
[14:29] {goryl} have a good trip Vad and don't forget to come back:)
01[14:29] {Threei}  thank you
01[14:29] {Threei}  I won't, I am not an east coast guy
[14:29] {dptl} out .54 
[14:29] {dptl} coh
[14:29] {Will49} ho hum...another boring win for dp
[14:31] {dptl} :)
[14:32] {scottie} nice dp
[14:32] {dptl} ty
[14:51] {dolores} CAT any trade?
[14:51] {dptl} clf .40 s?
[14:51] {dolores} back to the open
[14:51] {dptl} ah late
[14:52] {nemo} short
[14:52] {nemo} cat
[14:53] {nemo} could bounce .91 and then again .82
[14:54] {dptl} gmcr .60 s?
01[14:55] {Threei}  yup
[14:55] {nemo} two way imo
01[14:56] {Threei}  see .59 bid?
[14:57] {dptl} ye
01[14:57] {Threei}  don't be in hurry to nit it, makme sure there are enough sellers to melt it down
[14:58] {dptl} ye that what i was thinking too prepered .58
01[14:58] {Threei}  will, dp
01[14:58] {Threei}  local leaders debate pot decrim resolution. Many saying gov't needs to accept reality of pot use
01[14:58] {Threei}  get ready
[14:58] {Will49} ready:D
[14:58] {dptl} ye..about time lol
[14:59] {Will49} flags will be flying
01[14:59] {Threei}  and burning
[14:59] {Will49} lol
[14:59] {dptl} finaly dude
[15:00] {dptl} and then we gonna have vancuversdam
[15:01] {nemo}
[15:01] {Will49} :)
[15:01] {Will49} watch tourism exxplode
[15:01] {dptl} americans will be all over
01[15:01] {Threei}  delegates vote in favour of resolution calling for decriminalization/taxation of marijuana
[15:02] {dptl} make some room in your backyard Vad :)
[15:03] {Will49} BC Bud will be a big export number
01[15:03] {Threei}  no, I keep it for the time they allow red light districts
[15:03] {Will49} :O
[15:03] {dptl} roflol
01[15:04] {Threei}  ok GMCR
01[15:04] {Threei}  die
[15:04] {dptl} got .58
[15:06] {dptl} out half
[15:08] {dptl} out
01[15:11] {Threei} Long Setup:  CAT  .70 break hl
[15:13] {dolores} stop?
[15:13] {nemo} .60
[15:14] {nemo} oh
01[15:14] {Threei}  yeah, standard
[15:14] {nemo} the vxx is at 9.5  unbelievable
01[15:14] {Threei}  out
01[15:15] {Threei}  nice and easy
[15:15] {dolores} out
[15:15] {dolores} thxs
01[15:15] {Threei}  yw :)
01[15:15] {Threei}  gotta keep my job, ya know... lest I find upon return, it's all dp and nemo
[15:16] {nemo} I'm drinking for the next two days
[15:17] {dptl} nice cat....and i went outside .....
[15:17] {scottie} out +.19 tks Vad
01[15:18] {Threei}  yw
[15:18] {nemo} I think longs in order here
[15:19] {nemo} maybe not
[15:20] {nemo} mlnx
[15:20] {nemo} sorry
[15:27] {nemo} GS relatively strong...think tomorrow up
01[15:28] {Threei} Long Setup:  CLF  .10 break hl
01[15:29] {Threei}  don't ask where the stop or invalidation is
01[15:32] {Threei}  in on pullback
01[15:47] {Threei}  nah
[15:49] {dptl} see ya tomorrow all....and Vad have a good trip.....good evening
[15:49] {dolores} ok guys thxs. vad have a great conference !
01[15:49] {Threei}  OK guys, thank you all
[15:49] {dolores} see you monday guys
01[15:49] {Threei}  have a great eveningm, the rest of the week and weekend
[15:49] {Will49} have a safe trip Vad
[15:49] {scottie} have a nice trip vad
01[15:49] {Threei}  I will see you all next Text tuesday
[15:49] {scottie} gn all
[15:49] {dptl} see ya tue Vad