Friday, October 19, 2012

Oct 19 2012

Very decent end to the week, with nice profits and steady stream of profitable trades. As customary  downtrending market is good to us.

Session Time: Fri Oct 19 00:00:00 2012
[08:45] {dino} gm
01[08:49] {Threei}  morning dino
[08:57] {nemo} so...two little does come in around last light at 5:30, so I have to sit there until they leave.  Unfortunately after dark, I heard 3 more come in.  They had a frickin' dinner party.  I wasn't able to get down out of the tree until
[08:58] {dino} lol
[08:58] {nemo} I wish I had night vision, that stuff is kinda' interesting to watch
[09:00] {dino} you should see my border collie mis try to round them up in my yard, funny
[09:00] {dino} mis=mix
[09:00] {nemo} yeah, like useless
[09:00] {nemo} but I'm sure it's entertaining
[09:01] {nemo} I've gone soft in my old age...I can't shoot does when it looks like they have fawns with them
[09:02] {nemo} What cracks me up about fawns is they don't know to be afraid, they start coming over to you to check you out if they see you
[09:02] {nemo} just had our morning stop hunt in spy
[09:03] {goryl} gm
01[09:03] {Threei}  goryl :)
[09:03] {nemo} that's your opinion
[09:14] {jackharry} good morning
01[09:14] {Threei}  jack :)
01[09:14] {Threei}  interesting how little market reacted on EU summit agreements
[09:15] {scottie} good morning
01[09:15] {Threei}  scottie :)
[09:18] {Beau} good morning
01[09:18] {Threei}  beau :)
[09:21] {Will49} gm
01[09:21] {Threei}  will :)
[09:22] {ese} gm
01[09:23] {Threei}  ese :)
01[09:23] {Threei}  best line of yesterday: so little time, so much to redistribute
[09:24] {nemo} or expropriate
[09:24] {_1zach4} gm
01[09:24] {Threei}  zach :)
[09:24] {ese} what was the context
[09:24] {ese} welcome to the board zach
01[09:24] {Threei}  they had that dinner yesterday, ese, what its name
01[09:25] {Threei}  where candidates make self-deprecating jokes and take zingers at each other
[09:25] {ese} ahhhhhhh
[09:25] {nemo} bunny makes alot of noise when she's chewing grass
01[09:26] {Threei}
01[09:29] {Threei}  great... chinese conpany is bidding for AONE
01[09:30] {Threei}  which received quarter of billion of taxpayer injection
[09:31] {nemo} spy bounce area .34
01[09:32] {Threei} Long Setup:  FCX  .25 break hl
[09:32] {nemo} iwm .64
01[09:32] {Threei}  If holds  .15
01[09:32] {Threei}  Invalidated
01[09:33] {Threei}  valid again, same setup
01[09:34] {Threei} Short Setup: SLW  39 break
01[09:34] {Threei}  If holds  .05
[09:35] {nemo} next spy level .17
01[09:35] {Threei}  no go SLW
01[09:35] {Threei}  FCX target 1:3
01[09:35] {Threei}  1:1
[09:36] {scottie} fortunately, was not in short-list
[09:36] {scottie} fcx too fast for me
[09:36] {Will49} as with me
01[09:36] {Threei}  it returned for pickup
[09:36] {scottie} hi will
[09:36] {Will49} hi scottie
01[09:37] {Threei}  perfectly tagged .26 - .27 on pullback
[09:37] {nemo} looking for spy bottom at .17
[09:37] {nemo} ltna .71
[09:38] {nemo} partialling along the way 10 o'clock numbers
01[09:38] {Threei} Long Setup:  AIG  .85 break
01[09:38] {Threei}  If holds  .80
01[09:39] {Threei}  half out .94
01[09:39] {Threei}  scalpers win
[09:40] {dino} lulu blood
01[09:40] {Threei} Long Setup:  MET  .50 break hl
01[09:40] {Threei}  If holds  .40
01[09:41] {Threei}  Invalidated
01[09:44] {Threei} Short Setup: CAT  .85 break hl
[09:44] {thomcbell} looking for a long setup in aig down here
[09:44] {ese} spyders downward  spiral.........haven't seen any news....anybody
[09:44] {nemo} yeah, lotsa news
[09:44] {thomcbell} treasury to sell remaining stake this year
[09:44] {dino} lots of bad earnings ese
[09:44] {ese} what'd i miss
[09:44] {nemo} frickin' musicians
[09:44] {ese} ahhhhhhhh
[09:45] {dino} spy gap around 144.09
[09:45] {ese} lol
01[09:45] {Threei}  economy greatly improved I guess :)
[09:45] {ese} ouch
[09:45] {nemo} l tna .42
01[09:45] {Threei}  stop .91 CAT
[09:45] {nemo} stop under .32
[09:46] {nemo} partialling alll the way
[09:46] {ese} L fcx .80
[09:46] {nemo} pheww
[09:47] {ese} 1/2 .89
[09:47] {ese} .09
[09:47] {ese} +
[09:48] {ese} stop to even balance
[09:48] {nemo} l qld .62
[09:49] {nemo} stop qld .55
[09:50] {ese} stopped balance
[09:50] {ese} .80
[09:50] {ese} +.00
01[09:50] {Threei} Short Setup: LTD  .70 break
01[09:50] {Threei}  hl
01[09:50] {Threei}  If holds  .80
[09:51] {nemo} offering some .69 qld
[09:51] {nemo} o.k. cool
[09:51] {ese} bstop fcx .91
[09:52] {nemo} "Little WIllie" in my head
01[09:52] {Threei} Long Setup:  LEN  .70 break
01[09:52] {Threei}  If holds  .60
[09:53] {dino} lulu hl l .50
[09:53] {ese} L .89
[09:53] {dino} fio l .00
[09:54] {nemo} stop to .50 tna
[09:54] {nemo} qld .60
[09:54] {dino} out fio .17, +.17
[09:56] {ese} good one dino
[09:56] {dino} out lulu .94, +.44
[09:57] {ese} extreme use of a 2 X 4 for fcx here in a second
[09:57] {dino} thx ese
[09:57] {nemo} ricin coated nails
[09:58] {nemo} I'm flattening for the numbers
[09:58] {nemo} out .59 tna
[09:58] {nemo} .99
[09:58] {nemo} .84 qld
[09:59] {dino} met l .35
01[09:59] {Threei}  Invalidated  LEN
[09:59] {dino} phm l .50
[09:59] {ese} and I thought that LEN was a nice fellow
[10:00] {nemo} ebay
[10:00] {ese} fcx stopped .89 even
01[10:00] {Threei}  US) SEPT EXISTING HOME SALES: 4.75M V 4.74ME
[10:00] {ese} shoulda taken my .08 cents
[10:01] {nemo} qld
[10:01] {ese} massive increase don't you think
[10:01] {nemo} sorry
[10:01] {ese} .01 for home sales
[10:01] {ese} should send the market sky rocketing
01[10:02] {Threei}  LTD 1:1
[10:02] {nemo}'s what the market does on the news and it's coming in
[10:02] {dino} perception is reality eses
[10:02] {nemo} 82.64 is WPP in IWM they might declaire victory and create a range day today.  the Qs are just below the QPP
[10:03] {nemo} SPY very close to WR1
01[10:05] {Threei} Short Setup: CAT  .80 break hl
01[10:05] {Threei}  If holds  .90
[10:06] {dino} out phm .64, +.14
[10:07] {ese} shorter stay bigger shs dino?
[10:08] {dino} yes. been tougher to get the .30-.40 moves latey
[10:08] {dino} lately
01[10:08] {Threei}  CAT 1:1
[10:08] {dino} adjusting w/the times, you know ese
01[10:09] {Threei}  LEN 1:2 close enough, out
[10:09] {ese} definitely
[10:09] {scottie} cat +.19 tks Vad
01[10:09] {Threei}  :)
[10:10] {_1zach4} passed on LEN, thought it was invalidated
[10:11] {dino} met stuck, to b/e
01[10:11] {Threei}  sorry, meant LTD
01[10:11] {Threei}  lol
01[10:12] {Threei}  LEN was invalidated
[10:12] {nemo} RVBD
[10:12] {_1zach4} ah that makes more sense lol
01[10:12] {Threei}  looking at too many names
[10:12] {scottie} +.13 ltd tks Vad
01[10:13] {Threei}  yw
01[10:14] {Threei} Short Setup: FCX  .80 break
01[10:14] {Threei}  If holds  .90
[10:15] {dino} out met flat
[10:15] {ese} L vrtx .48
[10:19] {nemo} ASML looks short
[10:19] {ese} out .53
[10:19] {ese} +.05
[10:19] {nemo} dg
[10:19] {nemo} sorry
[10:19] {nemo} DG dino
[10:19] {ese} don't like the mrkt going against me here
[10:20] {nemo} that 48 level soaked up alot of volume
[10:20] {ese} oh sure.........bastard..............the second i get out
[10:20] {ese} vad wheres that vodka
01[10:20] {Threei}  same shelf as always
[10:20] {ese} auch du miya!!!!!!!
[10:21] {ese} lol
[10:23] {nemo} OP EX friday?
01[10:23] {Threei}  let's trail FCX to .86
[10:23] {ese} next isn't it
[10:23] {ese} hmmmmmm maybe not
[10:23] {nemo} this is 3rd trading week of month
[10:23] {nemo} musicians...what day is it
[10:24] {ese} ya...forgot about that
[10:24] {ese} ahhhhhhhh
[10:24] {ese} tuesday 1978
[10:24] {nemo} and you are blonde
[10:24] {ese} i might be............why?
[10:24] {nemo} you're plastered all over youtube
[10:25] {ese} roflol
[10:25] {Will49} let's all get plastered
[10:25] {nemo} no dummie you though considering the women you have fronting your band
[10:26] {ese} which picture.........the one with the vodka bottle in the left hand and am leaning over to the right?
[10:26] {nemo} youtube...not pictures
01[10:26] {Threei}  don't mention those nemo... you are giving dp heart attack
[10:26] {nemo} dp is not here
[10:26] {Will49} the bully-in-chief is at it again
01[10:26] {Threei}  he will have his heart attack when reads the log
[10:27] {nemo} hey, if it's time to punch his be it
[10:27] {ese} L phm .98
[10:27] {nemo} just doing my job
[10:27] {nemo} helping souls transition
[10:27] {nemo} whether they want to go or not
[10:27] {nemo} btw...won't be here on Monday
01[10:27] {Threei}  every time he sees those girls he whispers "I want to be ese"
[10:28] {ese} good..........i'm mean...........ahg too bad
[10:28] {nemo} I'm going to spend some time with coeds at a local university
[10:28] {nemo} rvbd
[10:29] {ese} phm.............18 break........come on
01[10:30] {Threei}  FCX 1:1
[10:31] {ese} will.......hows the weather in your end of's sunny and 25 degrees C in my end.........
01[10:32] {Threei}  lol
01[10:32] {Threei}  I want what you smoke ese... obviously good stuff
[10:32] {ese} lol
[10:32] {Will49} yeah, just balmy trade winds blowing in from Maui
01[10:33] {Threei}  btw ese... have you seen my Pioneer square series?
[10:33] {ese} good comeback
[10:33] {ese} no
01[10:33] {Threei}
[10:34] {ese} very nice
[10:35] {ese} thats the square accros from the ymca?
01[10:35] {Threei}  Quadra, near the church
[10:36] {Will49} 5 min walk from my place
[10:36] {ese} in all the years i've been here i've never walked through it
01[10:36] {Threei}  oh boy
[10:37] {Will49} and there's no more room to bury you there
[10:37] {ese} lol
[10:37] {Will49} closed end fund
[10:38] {Will49} that doesn't make any sense
01[10:39] {Threei}  if SPY loses 144.80, we might get really good selloff
[10:39] {ese} you put money in but nothing comes out the other end
01[10:39] {Threei}  financial constipation?
[10:40] {ese} ? lol
[10:40] {ese} nice description
[10:41] {ese} where cipher.........he normally shows up for 10 minutes makes a K or two and then leaves
01[10:41] {Threei}  he is slacking today
01[10:41] {Threei}  die FCX
[10:42] {ese}'s looking like one of your textbook examples vad........techniques of tape reading
01[10:42] {Threei}  nice JBE but needs market help
[10:42] {nemo} asml just bolted
[10:43] {ese} fcx is a big time mrkt follower.....won't die if spders take off up
[10:43] {ese} ya
01[10:43] {Threei}  trailing stop for the balance to .76
01[10:44] {Threei}  that's third win a row... want to make it third 1:2 in a row, but don't want to keep it at b/e still, after such long consolidation
[10:45] {ese} which stock vad?
[10:46] {ese} lost track
01[10:47] {Threei}  FCX
01[10:47] {Threei}  10:14] {Threei} Short Setup: FCX .80 break
01[10:47] {Threei}  [10:14] {Threei} If holds .90
[10:47] {ese} tks
[10:48] {thomcbell} lonmg setup qcom 59.30 break if holding 59.20
[10:49] {thomcbell} could be 2 sided
01[10:49] {Threei}  ES) Spain region of Asturias requests �261.7M in aid from Autonomous Liquidity Fund (FLA) - financial press- Reminder: Earlier today the Spain region of Balearic asks for a �355M bailout from the Autonomous Liquidity Fund
01[10:50] {Threei}  (IE) Ireland Central Bank Official: Ireland's banks still face significant challenges, but are close to the point where state guarantees can be withdrawn
[10:50] {ese} ok ...theres a new one on me......whats the Autonomous Fund......something based in Spain
[10:51] {thomcbell} qcom long invalidated obviously
[10:51] {ese} ya.......was watching that Thom
01[10:52] {Threei}  if I am not mistaken, Ireland is about the only country that implemented tax cuts as one of measures of fighting off the crisis
01[10:53] {Threei}  jack, is it so or I am confusing something?
[10:53] {thomcbell} aapl moment of truth here - vulnerable on the daily
[10:54] {nemo} nah, they should go down to test support, moment of truth is 620 area
[10:56] {jackharry} They made some initial reductions around 2010, but have since put them back up
[10:56] {jackharry} massive cuts in public spending, big reductions in public sector pay
[10:56] {jackharry} and big reductions in numbers employed by the state
01[10:56] {Threei}  right
[10:57] {Will49} any leprecons (sp) get laid off?
[10:57] {jackharry} although the one of the taxes they didnt increase was corporation tax on companies, it is very competitive
[10:58] {ese} least they cut back staff at the golf courses........that would be disasterous Jack
[10:58] {ese} they didn't
[10:58] {nemo}
01[10:58] {Threei}  so, does is it really look like Ireland climbs out of the crisis?
[10:59] {jackharry} still in really bad shape, but ceretainly better than some others
01[10:59] {Threei}  got it, ty
01[10:59] {Threei}  France is so done...
01[10:59] {Threei}  FCX, finally
01[10:59] {Threei}  third 1:2er in a row
01[10:59] {Threei}  makes day brighter
[11:00] {scottie} didn't take my bid yet
[11:00] {dino} re france, sooner or later they will run out of other peoples' money
[11:01] {ese} thats is a very bizzare article vad
[11:01] {nemo} social engineering run amok
01[11:01] {Threei}  that's what socialism does ese
[11:01] {nemo} the utility is now owned by the government
[11:01] {dino} atlas shrugged happening in real time
01[11:02] {Threei}  you may not believe it but socialistic world is beyond bizzare
[11:02] {ese} true but at least democratic...........try it for a while.......get ticked em out
01[11:02] {Threei}  I just wish you lived ikn it for a few month
01[11:02] {Threei}  you would change your world view in a hurry
[11:03] {scottie} out fcx +.18 tks Vad
[11:03] {ese} I like Denmark.........they seem to be doing it right
[11:03] {dino} gj
01[11:03] {Threei}  in particular, you'd shudder at the thought of Obama second term or NDP ever taking power in Canada
01[11:03] {Threei}  scottie :)
[11:04] {Will49} we pay a penalty(higher rate) in BC if elect usage exceeds base
[11:05] {Will49} nothing wrong with that..just focuses attention on waste
[11:05] {dino} wouldn't it be easier and better to build now power plants
[11:05] {ese} socialism can be abused for sure.........but health care here in Canada was created by a socialist gov't ...Tommy douglas in Saskatchewan........
[11:06] {nemo} here comes the aapl test
[11:07] {Will49} dino...good question; beyond my pay scale
[11:07] {ese} mine as well
[11:07] {dino} :)
[11:07] {dino} sm l tnc ave .95, thin
01[11:08] {Threei}  SPY as foretold... selling off nicely
01[11:08] {Threei}  FCX 1:3... awww
[11:09] {ese} and besides ain't gonna matter which gov't where for'll be able to make money in all situations
01[11:09] {Threei}  you think?
01[11:10] {Threei}  let me give you this mental exercise
[11:10] {_1zach4} nice CAT trade
[11:10] {dino} wow! ese, obamination wants us "speculators" to go to 50%
[11:10] {_1zach4} 1:8 at this point
01[11:10] {Threei}  your favorite president remains in the office,
[11:10] {ese} whoa
01[11:10] {Threei}  and unretsrrained by the next election, goes ahead and implements transaction tax
01[11:11] {Threei}  what do you think I am going to do for a living?
[11:11] {ese} ok........thqt just changed my mind
[11:11] {ese} he's out
[11:11] {Beau} you mention Canada's health care.  We hear so many negatives, what is the truth?  Is it a good system or not?
[11:11] {dino} capital gains to ordinary income rate, will kill inovation, traders, investors, etc
01[11:11] {Threei}  beau... it's a mixed bag
[11:11] {thomcbell} aapl getting smacked pretty good
[11:11] {jackharry} Great quote from Margaret Thatcher - ”The problem with socialism is that eventually you run out of other people’s money.”
01[11:12] {Threei}  while most of medical services are free and guaranteed, the lineups for many of them are unimaginable for US
[11:12] {Will49} Canada has much healthier people and health care way lower than US, so depends on how you measure
01[11:12] {Threei}  there are scores of people waiting for surgeries for years
[11:12] {Will49} only elective surgery Vad
01[11:12] {Threei}  those same surgeries that are doen in US in a matter of days or weeks
[11:13] {_1zach4} Is it true that people go to vets for things like x-rays?
01[11:13] {Threei}  well, hip or knee replacement, will
[11:13] {Will49} and you can go to private clinics if you don't want to wait
01[11:13] {Threei}  yes but then you pay
01[11:13] {Threei}  and you already paid for it through your taxes
[11:14] {Beau} pay private full cost?
01[11:14] {Threei}  sure
01[11:14] {Threei}  knee replacement is not really an elective surgery
[11:14] {Will49} depend how you look at it. If everything was covered, tax much higher
[11:14] {Will49} most seniors I know in Victoria only wait a month or tow for knees, hips
[11:15] {Will49} two
[11:15] {Will49} so...on what criteria would you judge health care systems?
[11:16] {dino} availibility of when i want it
[11:16] {dino} tnc stop
[11:17] {ese} rock's not perfect but it's certainly better than if we didn't have it.......
01[11:17] {Threei}  will... that's way out of times quoted everywhere I look
[11:17] {Will49} and better than most mixed systems in the world
[11:17] {nemo} l tna .91
01[11:17] {Threei}  3-5 years waiting times
[11:17] {nemo} stop under .85
[11:18] {ese} definitely
[11:18] {Will49} Vad...don't believe everyhting you read in media
[11:18] {nemo} partialling all the way
[11:18] {dino} lulu hl l .80
[11:20] {nemo} funny how spy bounced right at a fib level, look for db formations here
[11:20] {nemo} out tna
[11:20] {nemo} got 1:1 on half
[11:21] {nemo} o.k. serious bottoming volume coming in spy
01[11:21] {Threei}  official stats:
01[11:21] {Threei}  Since 2005, Ontario has achieved significant wait time reductions in the following areas: cancer surgery (23.5 per cent or 19 days); cataract surgery (61.4 per cent or 191 days); hip replacement (45.6 per cent or 160 days); knee replacement (55.2 per cent or 243 days); CT scans (54.3 per cent or 44 days).
01[11:21] {Threei}  that's REDUCTIONS!
[11:21] {nemo} and Vad will never have to worry about having brain surgery
[11:22] {nemo} they may want to try and test 144 on spy
[11:23] {Will49} I don't know th official times in BC but know  a dozen old curlers in my club who got knee replacement very quickly
[11:24] {ese} me either.......don't know the stats but when my wife's dad need open heart surgery to repare a got done within days
[11:25] {Will49} any condition that requires immediate attention -gets it
[11:25] {ese} seems like
[11:26] {dino} out lulu .20, +.40
[11:27] {scottie} gj dino
[11:27] {Will49} anyway...this system is recognized world over as one of the best based on level of health in population, infant mortality AND cost to deliver
01[11:27] {Threei}  greater victoria hispitals are one of the shorter time waits for that particular surgery, will - 37 weeks average
[11:27] {ese} the other part to this is our population base....considering we only have a population of approx 40million have it funded at all is pretty good i think.............USA ...what.......almost 400 million.........somebody hoarding some dollars somewhere
[11:28] {Will49} lived in health care in the world (if you can afford it)
[11:28] {ese} hows it done.......through insurance
01[11:28] {Threei}  3 weeks in US
[11:29] {ese} if so we know how that gets bilked..........
01[11:29] {Threei}  hat's 12 times difference
[11:29] {Will49} yes, private insurance
01[11:29] {Threei}  that btw on top of waiting for initial consultation - two-three times longer in Canada
[11:30] {ese} ya.........and everyone trys to overcharge that system
[11:30] {Will49} obviously , wait times for non-critical issues are not detrimental to good overall health care
[11:31] {Will49} US wait times are argumant there
[11:31] {Beau} stent in LAD 2 hrs after need determined, medicare not private
[11:32] {ese} wheres that beau?
[11:32] {Will49} just sayin.....wait times are not optimum way of measuring benefits of health care system
[11:32] {Beau} Texas and we really are part of US.
01[11:32] {Threei}  lol
[11:33] {ese} lol
[11:33] {dino} lol, glad it is
01[11:33] {Threei}  7c% just run again my photographer's profile
01[11:33] {Threei}  7x5
01[11:33] {Threei}
[11:34] {ese} i'm gonna be close to there at the end of April.....Lafayette for a music festival with my high school R&B band
[11:34] {Beau} where ese?
01[11:34] {Threei} Long Setup:  FCX  .45 break
01[11:34] {Threei}  If holds  .40
[11:35] {ese} LSU.....Louisiana State University
[11:36] {ese} and possibly New Orleans as well
01[11:36] {Threei}  Invalidated
01[11:36] {Threei}  ese... do you have 5min 38 sec of free time?
[11:36] {ese} i think so why
01[11:37] {Threei}  watch where slow creep of socialism took USA:
01[11:37] {Threei}
[11:37] {ese} have to go to the washroom but other than that
[11:37] {Beau} Baton Rouge, first time there ese?
01[11:37] {Threei}  those are cold hard humbers
[11:38] {thomcbell} aig long setup - 35.96 break if holding 35.85
[11:38] {ese} Yes......wheres Baton Rouge.......Lafayette is different isn't it
01[11:38] {Threei}  FCX is valid again
[11:38] {ese} or are they side by side
01[11:41] {Threei}  scalpers stop .39, day traders .34
[11:42] {nemo} now it's defecate or get off the commode for aapl
[11:44] {Beau} ese, Lafayette 2hrs west.  New Orleans is only 1 1/2 hours east.
[11:45] {Beau} Great food .  If you have time think about going to NO.  If you haven't been there before.
[11:46] {ese} Ok......pretty straight forward explanation explanation vad.........
[11:46] {ese} interesting video
[11:46] {ese} You live in Baton Rouge right beaU?
[11:47] {Beau} No, that is LA.  I am in TX about 4 hours west of Baton Rouge.
[11:48] {Will49} thought you might live in Beau-Mont
[11:48] {Will49} :)
[11:48] {Beau} ever been to New Orleans ese?
[11:48] {ese} no never
[11:48] {Beau} lol will.
[11:49] {ese} hope we can get there..........
[11:49] {Beau} you really need to go.  Jazz in the
[11:49] {nemo} ltna .81
[11:49] {nemo} break of .80
[11:49] {Beau} French Quarter will put you in heaven
[11:49] {ese} definitely want to see preservation hall
[11:50] {nemo} got to hold low here iwm
[11:50] {thomcbell} nemo - aapl
[11:51] {nemo} nope
[11:52] {nemo} yeah  aapl in trouble now looking to 614ish
01[11:53] {Threei}  no go
[11:53] {nemo} below that 600
01[11:53] {Threei}  wow, selling just won't stop
[11:53] {ese} What does this mean:  18 October, 2012 9:03:12 AM PDTFreeport McMoran Copper & Gold Inc Exec: Copper concentrate markets to remain tight for the next two years- Spain smelter produced record volumes in July 2011-12 period. - 2013 copper treatment and refining charge (TC/RC) pricing to be in line with 2012 pricing, around $63.50/tonne - Source
[11:53] {ese} in particular ...the remeains tight comment
[11:54] {ese} limited supply?
[11:54] {ese} that would drive prices up
[11:54] {ese} ?
01[11:55] {Threei}  that's what he says ese
[11:55] {ese} ok
01[11:55] {Threei}  how true it is remains for anyone to gauge
[11:55] {ese} that would explain the $60 target from some analysist
01[11:55] {Threei}  further economy slowdown can easily turn it into opposite
[11:56] {ese} ya definitely
01[11:56] {Threei}  (IT) Italy Econ Min: Italy financial transaction tax (Tobin) scheduled to go into effect on Jan 1, 2013 assuming parliamentary approval; will not apply to govt bonds -
[11:56] {nemo} here's the 144 test.  .86 next level below
01[11:56] {Threei}  so ese... the day we see such headline about USA, I move in your house
[11:57] {ese} lol
[11:57] {ese} I'll take ya any day vad
01[11:57] {Threei}  and I am not paying rent
[11:58] {ese} definitely not
[11:58] {nemo} we're very close
[11:58] {dino} funny, doesn't apply to govt bonds, that says it all
01[11:58] {Threei}  sure
01[11:58] {Threei}  they want them to buy those
[11:59] {thomcbell} wow that is too much
[11:59] {nemo} ltna .54
[11:59] {ese} i'm not sure i get the full meaning of that.......
01[11:59] {Threei}  which part?
[11:59] {thomcbell} comedy
[11:59] {ese} not to apply to govt bonds.......rather the implication
[11:59] {dino} if it was such a good idea, then why not tax govt bonds
[12:00] {ese} hmmmmmmm
[12:00] {dino} it will hurt markets thats why
[12:00] {nemo} stop below low iwm
01[12:00] {Threei}  they want to tax any transaction in financial sphere: stocks, futures, commodities, whatever,
01[12:00] {Threei}  but they want bond buyers to continue buyikng their debt, so they make exception for that
[12:00] {ese} ah ok
01[12:03] {Threei}  Weakness in key earnings reports are weighing on indices this morning. McDonalds, General Electric and Microsoft are in the red this morning after disclosing troubling earnings reports
01[12:12] {Threei} Short Setup: CAT  84 break
01[12:12] {Threei}  If holds  .10
01[12:15] {Threei}  1:1
[12:15] {nemo} below this .62 on spy
[12:15] {nemo} .65 on iwm
01[12:16] {Threei}  1:2 close enough
01[12:16] {Threei}  out .83
[12:17] {nemo} yeah, capitulation volume in spy here
01[12:17] {Threei}  got back that FCX stop and then some
01[12:20] {Threei} Short Setup: GLD  .50 break hl
01[12:20] {Threei}  If holds  .60
[12:20] {nemo} l .81
[12:20] {nemo} tna
01[12:20] {Threei}  two-sided probably
[12:20] {nemo} partialling all the way
[12:21] {nemo} that could be the bottom based on that spy volume
01[12:21] {Threei}  and GLD made higher low
[12:21] {nemo} yeah yeah yeah
[12:21] {dino} fio l .65
[12:22] {nemo} if we get pullback .85 area for tna, consider it a gift
[12:23] {nemo} RVBD
[12:24] {nemo} volume dropped on this pullback spy iwm fas
[12:24] {nemo} vwap run possible
[12:26] {dino} atk spike
[12:28] {nemo} frickin make a liar out of me
[12:28] {dino} out fio .74, +.09
[12:28] {nemo} iwm in fib confluenece spy still above low
01[12:31] {Threei}  SPY, double bottom or bust
01[12:32] {Threei}  needs to take 144 to break the downtrend
[12:35] {nemo} done
01[12:37] {Threei}  1:2 on a long side
01[12:37] {Threei}  out
01[12:38] {Threei}  pretty happy with how today goes
[12:43] {ese} ok......i'm toast here......gotta go catch you all monday....have a great weekend everyone
[12:44] {Will49} be good ese
01[12:46] {Threei}  take care ese
01[12:47] {Threei}  #Florida: #Romney 51%, #Obama 46%
[12:48] {Will49} hope that keeps up for another few weeks
[13:01] {dino}  me too
[13:06] {Will49} evn tho Mitt may not be able to make any really big changes, at least I'll be happier
[13:07] {Will49} not having to look at that toothy, fast talking face
[13:13] {nemo} all these polls...
[13:14] {Will49} as I keep sayin"...only one that counts is election day
[13:14] {nemo} here come the VWAP runs
[13:30] {nemo} He can't make any changes...bureaucracy and Congress and regulation
[13:30] {nemo} that's it
[13:30] {nemo} if he has a split congress he can veto stuff
[13:30] {nemo} if one or the other party owns hit, he be overridden
[13:31] {nemo} we will eventually go the way of Europe
[13:31] {Will49} sad
[13:31] {nemo} nature of things
[13:32] {Will49} hope he (or Barry) can keep this ship from tipping over in the meantime
01[13:32] {Threei}  look how perfectly SPY dropped on daily off that upper descending line O spoke of two days ago
01[13:33] {Threei}  the political will required to fix things for real is incredbile... hard to see it happening
01[13:33] {Threei}  not in democracy
01[13:34] {Threei}  we need benevolent dictator to make it happen
[13:35] {Will49} we'll need to wait for this generation of "me first" leaders to die off
[13:36] {nemo} you think this generation is different from any other?
[13:36] {Will49} absolutely
[13:36] {nemo} plu ca Change plu cest le meme Chose
[13:36] {Will49} the "me" generation in spades
01[13:37] {Threei}  how next generation will help? problem is, pressure from beneath won't allow any of perks and entitlements to be cut
[13:37] {nemo} nope...Tocqueville
01[13:38] {Threei}  as far as each particular indidual is concerned, a) it's not his fault and b)his entitlement is the right one
[13:39] {nemo} everybody is "after me you come first"
[13:39] {Beau} those who must legislate and regulate think only of being re-elected and re-appointed.  So how will anything change?
[13:39] {nemo} [13:36] {nemo} plu ca Change plu cest le meme Chose
[13:40] {Will49} amen Beau
[13:40] {nemo} collapse, massive dislocations cause change but not as much change as one would think.  "Gains" are relatively temporary
01[13:40] {Threei}  right, which also indidcates again that it's our doing and our fault - because it's us who won't bote for those who cut our entitlements
[13:41] {Will49} amen Vad
[13:41] {nemo} Stalin was right
01[13:41] {Threei}  if we did, they'd work to change things
01[13:41] {Threei}  we don't - they work to keep status quo rolling
[13:41] {Will49} somebody said that a democracy gets the government it deserves....well?
[13:42] {nemo} there are two other huge themes that people aren't accounting for (dangling preposition aside)
[13:42] {nemo} Energy is likely bottomed as far as cost, which Energy=Life.  Makes it harder to expand prosperity, and....robotics
01[13:43] {Threei}  been a good while since we saw such determined selling
[13:57] {nemo} coming into confluence on spy iwm and financials
[13:58] {nemo} .37 IWM  ,20 SPY  16 financials
[13:58] {nemo} xlf
[13:59] {nemo} Qs at .34 multiple levels
[14:05] {nemo} there we go
[14:16] {dino} back in 30
01[14:17] {Threei}  watvhing SLW for bounce
01[14:17] {Threei} Long Setup:  SLW  39 break
01[14:17] {Threei}  If holds  .95
01[14:17] {Threei}  half out
01[14:17] {Threei}  scalpers be happy\
01[14:18] {Threei}  what's that button say... "that was easy!"
01[14:19] {Threei}  scalpers win
[14:32] {scottie} system froze, had to reboot
[14:33] {scottie} Are we into something ?
01[14:33] {Threei}  no, not after SLW scalp
[14:33] {scottie} tks
01[14:33] {Threei}  well, right answer would be "in coma"...
01[14:34] {Threei}  but if you insist on "into" instead of in, then right answer would be: no, except nemo who is heavy into glue sniffing
[14:35] {nemo} ?
01[14:35] {Threei}  never mind :)
[14:36] {scottie} bad nemo ...
[14:37] {nemo} that means I'm good ;-)
[14:38] {scottie} pleonasm
[14:38] {nemo} not sure that qualifies
[14:39] {nemo} If I were to say "The fact that you call me bad, and the persona I effect is usually of a socially maladjusted individual, would in turn, actually mean I'm 'good"" would be a pleonasm
[14:40] {nemo} or, are you speaking of your comment
[14:40] {nemo} ?
[14:40] {scottie} bad nemo is a pleonasm
[14:42] {nemo} yep
01[14:44] {Threei}  I wanted to ask you to eschew the big words for redundancy but then realized redundancy was actually bigger word than pleonasm
01[14:44] {Threei}  so I shut up
01[14:44] {Threei}  so I shut up
[14:45] {Will49} lol
01[14:45] {Threei}  :)
[14:45] {scottie} lol
[14:46] {nemo} funny
[14:46] {nemo} funny
01[14:46] {Threei}  that was redundant pleonasm
01[14:46] {Threei}  robbers is slacking today... together with cipher... missing nice day
01[14:55] {Threei} Short Setup: FCX  .15 break
[14:55] {dino} what do you think, -300
01[14:55] {Threei}  yup
01[14:55] {Threei}  feels like another bout of selling in cards
[14:56] {nemo} Watch for short covering into the close OP EX today
01[14:56] {Threei}  or speaking in pleonasms, which quickly become word of the day, another negative move down is coming
[14:56] {nemo} if your short it's positive
01[14:57] {Threei}  change FCX to .20 break, aggressive
01[14:57] {Threei}  If holds  .25
01[14:57] {Threei}  I am really torn between pleonasm and defenstration as a favorite word of the week
[14:58] {nemo} how about omphalosskepsis
01[14:58] {Threei}  very nice
01[14:59] {Threei}  Invalidated  FCX
[14:59] {Beau} depends if you are an inner or outer
[15:01] {nemo} thank god for Google, huh?
[15:01] {Beau} absolutely
01[15:01] {Threei}  totally
01[15:01] {Threei}  to read makes us speak english good
01[15:04] {Threei}  wow
01[15:04] {Threei}  23 Banana Boat sunscreen products pulled from market due to risk products will ignite on person's skin
01[15:04] {Threei}  rofl
[15:05] {Will49} talk about getting burned
[15:05] {scottie} au l .25 ?
01[15:08] {Threei}  I doubt it
01[15:09] {Threei}  FCX is on again
01[15:09] {Threei}  .20 break short
[15:09] {scottie} ok
01[15:18] {Threei}  nah
[15:20] {nemo} short covering has commenced
01[15:21] {Threei}  looks like
01[15:24] {Threei} Long Setup:  CAT  84 break hl
01[15:24] {Threei}  If holds  .90
[15:26] {dino} fio l .96
01[15:27] {Threei}  target 1:3
[15:27] {nemo} vwap runs
[15:28] {nemo} spy gonna reclaim 144
[15:28] {nemo} that's S3 and vwap
[15:28] {dino} out fio .10, +.14
01[15:30] {Threei}  no worky
01[15:30] {Threei}  wow, SPY can't even get a decent bounce into close
[15:32] {Will49} does short covering usually happen so soon?
[15:32] {dino} calling it a week, tx all very good day for me
01[15:33] {Threei}  same here dino
01[15:33] {Threei}  stilll want to catch closing scalp
[15:39] {cipher} good afternoon
[15:39] {cipher} how was today?
01[15:40] {Threei}  hey
01[15:40] {Threei}  very good day
[15:40] {cipher} I knew that!
01[15:40] {Threei}  yeah...
[15:40] {cipher} had an issue this morning...
01[15:48] {Threei}  stall into close
01[15:50] {Threei}  nothing worth the risk
01[15:50] {Threei}  OK guys, thank you all, have a great weekend
01[15:50] {Threei}  see you Monday
01[15:50] {Threei}  get well cipher!
[15:50] {scottie} gn all
[15:50] {cipher} ty
[15:50] {cipher} good night
[15:52] {Will49} bye everyone