Monday, December 10, 2012

Dec 10 2012

Very low volume slow trading with no spark whatsoever. Squeezed barely profitable day but whether it was even worth waking up for remains open question.

Session Time: Mon Dec 10 00:00:00 2012
01[09:01] {Threei}  yawn... I guess it's time to face the reeality
01[09:01] {Threei}  wow, everyone is asleep yet
[09:07] {ese} "Have yourself a merry little trading time........Let the yule.........."   altogether now!!!!!!  "Have yourself...........
01[09:07] {Threei}  lol
[09:07] {ese} hmmmmmmmmm......tough crowd
01[09:07] {Threei}  morning ese
[09:07] {ese} morning
01[09:07] {Threei}  everyone's asleep yet
01[09:08] {Threei}  the farther in the winter, the closer to market opening people come in
[09:08] {ese} tis the season to party your brains out for sure..........takes mon, tue and wed to recover and then back at it for the next couple of weekends
01[09:09] {Threei}  yeah, I hate mon, tue, wed, thu and half of fri
01[09:11] {Threei}  if you want to enrtain yourself meanwhile, have a look at this:
[09:14] {dino} gm
01[09:15] {Threei}  dino :)
[09:16] {ese} thats an excellent article.......where did you find that
01[09:16] {Threei}  stumbled onto it somwhere on interenet
01[09:17] {Threei}  that's where ben and the rest of free-spending crowd takes us
[09:18] {Beau} good morning
01[09:18] {Threei}  beau :)
[09:18] {scottie} good morning
01[09:18] {Threei}  scottie :)
[09:18] {ese} beau scottie
[09:19] {scottie} ese
[09:21] {Will49} good morning
01[09:21] {Threei}  will :)
[09:22] {ese} will
[09:22] {Will49} :)
01[09:23] {Threei}  anyone guess whose photo it is? (if he were a cat that is)
01[09:23] {Threei}
[09:23] {patel} Good Morning room!!!
01[09:23] {Threei}  patel :)
[09:24] {ese} patel
[09:24] {ese} ok I give up........excellent photo though
[09:24] {Will49} Nemo?
01[09:24] {Threei}  of course
01[09:24] {Threei}  come on ese... who here doesan't believe mornings can be good
[09:24] {ese} rotflol
[09:25] {ese} good one will
[09:25] {Will49} hope that's the beginning of a winning streak
[09:26] {ese} i thought you were talking about some political nutball
[09:26] {Will49} well?
01[09:26] {Threei}  just a nutball, ese {G}
[09:26] {ese} lol
[09:27] {ese} could say a whole lot worse
[09:27] {ese} we'll leave it at nutballl for now
01[09:27] {Threei}  my feeling is, selling is about to resume, but I'll prefer to sit out first minutes
01[09:27] {Threei}  JPM is interestingly weak
[09:27] {ese} spyders have been sliding for about 30 min now
01[09:28] {Threei}  keeping an eye for possible short
[09:28] {nemo} MCD 
01[09:28] {Threei}  FCX on the other hand...
01[09:28] {Threei}  rather long but let's let it workm out opening volatility
01[09:29] {Threei}  MCD decent report
[09:30] {thomcbell} FB im looking for a long entry 
01[09:31] {Threei} Short Setup: JPM  .50 break
01[09:31] {Threei}  If holds  .60 
[09:32] {thomcbell} fcx tested daily pivot there at 31.80 
01[09:32] {Threei}  not yet, JPM
01[09:33] {Threei} Long Setup:  FCX  .95 break hl
01[09:33] {Threei}  If holds  .85 
01[09:34] {Threei}  target 1:3
01[09:36] {Threei}  no go
01[09:36] {Threei}  1 cent to 1:1
01[09:36] {Threei}  probably rinse
[09:37] {thomcbell} short setup lvs 43.90 break if holding 44
[09:37] {nemo} shorting into support and daily pivot
[09:38] {nemo} keep the lube handy
[09:39] {thomcbell} ok thanks 
[09:39] {nemo} not that I might not be wrong, just looking at the chart
01[09:40] {Threei} Long Setup:  SLW  .40 break
01[09:40] {Threei}  If holds  .30 
01[09:40] {Threei}  frikin JPM
01[09:40] {Threei}  got away
[09:40] {robbers} wash. rinse. repeat.
01[09:40] {Threei}  Monday open... often like this
01[09:41] {Threei}  OK SLW, be a good boy
01[09:42] {Threei}  give us 1:3
[09:43] {ese} L geo .34
[09:43] {ese} popped up on me ....awesome
01[09:43] {Threei}  nice
[09:44] {ese} 1/2 .55 +.21
[09:45] {dino} gj
[09:45] {ese} tks
01[09:46] {Threei}  let's trail to .34
01[09:46] {Threei}  1:1
01[09:46] {Threei}  from here by the book
[09:47] {thomcbell} FB 27.60 braek if holding 27.50
[09:47] {dino} jwn hl l .37
01[09:47] {Threei}  let me repeat: frikin JPM
01[09:47] {Threei}  smelled this weakness early, drops now despite market strength
[09:48] {thomcbell} FB 1:1 for half a second 
01[09:49] {Threei}  SLW 1:2
[09:51] {thomcbell} FB stop is break even here 
01[09:52] {Threei}  out last piece on a trail
[09:52] {thomcbell} i managed to sell 1/2 at 1:1
01[09:52] {Threei}  keep ana eye on HPQ for pullback entry
[09:52] {robbers} Thanks, slw.
01[09:52] {Threei}  yw
01[09:52] {Threei}  ideally from under 14.20
[09:53] {thomcbell} long setup AIG 33.52 break if holding 33.42
01[09:53] {Threei}  Icahn rumor
[09:53] {nemo} gmcr
01[09:53] {Threei}  (US) Staff meetings yesterday following President Obama and House Speaker Boehner discussions said to have yielded no progress - financial press
[09:54] {patel} missed MCP 
01[09:54] {Threei}  (US) US Sep SNAP (food stamps) participation: 47.7M people (record high) v 47.1M prior- update
01[09:54] {Threei}  - Supplemental Nutrition Assistance Program (SNAP) accounted for 14% of US retail grocery store sales in the month
01[09:54] {Threei}  - Average benefit per person: $134.29
01[09:54] {Threei}  - Average benefit per household: $278.89
[09:55] {dino} obummers legacy
01[09:56] {Threei}  and it's going to get worse before it gets better I suspect - approval rating isd at 58%, new post-election high
01[09:56] {Threei}  people have spoken
[09:56] {nemo} election honeymoon, plus there is no longer a candidate to contrast
[09:57] {Beau} nemo, gonna watch the pats tonight?
01[09:57] {Threei}  nemo the optimist... who knew...
[09:57] {nemo} ?
01[09:57] {Threei}  come on HPQ, dive
[09:57] {ese} out full geo .51 +.17 
[09:57] {ese} L nuan .01
[09:58] {thomcbell} FCX looking for a long set up to surface - that was a nice thrust off the low 
[09:58] {Beau} thought you were a new england fan
[09:58] {nemo} ?
01[09:59] {Threei}  FCX, pullback under .60 will give you nice double bottom setup
[09:59] {nemo} oh, yeah, I live 20 min. from the stadium
[09:59] {Beau} going?
01[09:59] {Threei}  may have to be quick on recross
[10:00] {nemo} no...I don't like going to games.  I used to work on the field
01[10:00] {Threei} Long Setup:  FCX  .60 break
[10:01] {thomcbell} AIG 1:1
01[10:01] {Threei}  If holds  .50 
[10:01] {nemo} spy continues to hold trend line upward from the beginning of the month
[10:01] {ese} it!
[10:02] {ese} no wait.......dont do that
01[10:02] {Threei}  huh... no go FCX
[10:04] {thomcbell} sold another 1/4 aig 33.70 stop 
[10:04] {ese} that
[10:04] {nemo} fcx here
[10:04] {thomcbell} Flat AIG 33.65
[10:07] {nemo} grind up day
[10:07] {patel} VRSN 37 break thoughts
01[10:08] {Threei}  too far from current price to tell without seeing how it gets there
[10:12] {nemo} mcp breakout anybody?
[10:12] {thomcbell} fcx 31.51 break if holding 31.38 
01[10:13] {Threei} Long Setup:  GLD  160 break
01[10:13] {Threei}  If holds  .90 
[10:14] {thomcbell} target is 1:3 on FCX - which is the pivot 
01[10:14] {Threei}  if GLD invalidates, let's watch for .90 break entry
[10:17] {Will49} short entry?
[10:17] {dino} fds sm s .10
01[10:17] {Threei}  no
01[10:17] {Threei}  long
[10:17] {Will49} tks
[10:21] {dino} bke drop
01[10:21] {Threei} Long Setup:  GLD  .90 break
01[10:21] {Threei}  If holds  .80 
[10:21] {dino} infi spike
01[10:23] {Threei}  nice one FCX
[10:23] {thomcbell} FCX 1:1
[10:23] {thomcbell} trying to hold the rest with a trail 
[10:24] {thomcbell} 1:2
01[10:24] {Threei}  wtg
[10:24] {thomcbell} 1:3
[10:25] {patel} awesome Tbell!!
01[10:25] {Threei}  GLD half out
[10:25] {Will49} nice
01[10:25] {Threei}  1:1
[10:25] {thomcbell} 1/4 remaining - 31.60 stop 
01[10:25] {Threei}  ahh, FCX had news
01[10:25] {Threei}  just in time :)
01[10:26] {Threei}  luck favors prepared mind!
01[10:26] {Threei}  FCX Hearing chatter Arcelor Mittal could take a stake in the company
[10:26] {thomcbell} lol
01[10:26] {Threei}  10:24, perfgect timing
01[10:27] {Threei}  this is high class trading tbell p chart is right, and trading gods look favorably at the one who trades right, sending such gift :)
[10:29] {thomcbell} thanks Vad 
01[10:29] {Threei}  don't view it as random and pure luck
01[10:30] {Threei}  my experience is, the better you trade the more you get this kind of external help
[10:30] {thomcbell} raising stop to 31.68 on fcx
01[10:30] {Threei}  as if universe aligns to help you when you do things right
[10:30] {nemo} gmcr C&H
[10:31] {dino} fds stop 
[10:31] {thomcbell} out fcx
[10:31] {nemo} sell the news
[10:40] {patel} kicking myself over MCP... I have been watching this stock since Friday. I even had 9.06 as my target but it popped right away. 
[10:42] {dino} tbell, some people create their own luck
[10:42] {dino} six hl l .00
[10:42] {thomcbell} i totally agree Vad 
[10:47] {scottie} out +.18 tks Vad
01[10:47] {Threei}  1:2
01[10:47] {Threei}  yw
01[10:47] {Threei}  allow me once again to profess love for aggressive entries
[10:54] {dino} 07 green
[10:57] {robbers} Out GLD, thanks.
[10:58] {thomcbell} nice looking cup forming on the 1 min on FCX 
01[10:58] {Threei}  :)
[11:02] {nemo} boy if they ever make progress on the FC we'll be at new yearly highs in an instant.  No selling at all across the indexes
[11:04] {thomcbell} FCX pattern failure - 
[11:06] {nemo}
[11:08] {scottie} cmcsk l .30 if holds .25 ?
01[11:18] {Threei}  sorry scottie, missed the question
[11:18] {scottie} in .31, not looking good
01[11:18] {Threei}  at you in?
01[11:18] {Threei}  ok
01[11:18] {Threei}  I'd keep .24 stop
[11:19] {scottie} out
[11:21] {dino} jw/a hl l .96
[11:21] {dino} eqt hl l .04
01[11:31] {Threei}  wow... market stopped
[11:31] {thomcbell} FB 27.88 break if holding 27.80
[11:36] {dino} out six -.06
[11:36] {dino} gco hl l .39 gappy
[11:45] {nemo} finnies new high, should take the indexes with it
[11:51] {thomcbell} im tightening stop on FB to 27.84 - im losing confidence in the play 
[11:53] {dino} out eqt .38 ave +.34
[11:55] {Will49} good one dino
[11:55] {Will49} in a slow market
[11:55] {dino} ty
[11:56] {dino} really slow market, not finding much
[11:56] {Will49} is it waiting for news?
[11:57] {dino} no idea. just seems that every month volume dries up a bit more
01[11:57] {Threei}  will, seems to me market is totally driven by the developments in that diotic fiscal cliff negotiations
01[11:58] {Threei}  no fresh heandlines, things are dead since no one wants to commit
01[11:58] {Threei}  finers are on the buttons to react quickly if news comes
[11:59] {Will49} tks guys
[12:02] {dino} finers?
[12:05] {dptl} good morning all
06[12:05] * nemo faints
01[12:05] {Threei}  dp!
[12:05] {dino} good afternoon dp
[12:07] {dptl} how's everything?
[12:07] {robbers} DP, cool, welcome back!!
01[12:08] {Threei}  last week was beautiful
01[12:08] {Threei}  this one starts slow
[12:08] {dptl} cc_8 ..dcc please
[12:09] {cc_8} hi ok
01[12:10] {Threei}  (ID) 7.4 magnitude earthquake is said to have occurred offshore Indonesia, no Tsunami threat in Indian ocean
01[12:10] {Threei}  (US) House Speaker Boehner Aide: The speaker is waiting for a new fiscal cliff proposal from President Obama- Reiterates that Boehner's offer from last week remains the GOP's main offer. - Talks with the White House are taking place - Follow up: White House indicates that the lines of communication remain open, optimistic sides can reach an agreeement
01[12:19] {Threei}  (US) Group of Democratic Senators said to be pushing for delay of Obamacare medical device tax
[12:27] {Will49} hey dp good to see you back
[12:27] {dptl} hey Will :)
01[12:27] {Threei}  dp, ese disconnected before you came in, and AI think he did it for a reason - he went to hide the girsl
01[12:27] {Threei}  girls
[12:28] {dptl} lol sure.... damn musicians :)
[12:35] {scottie} MPC s .00 if holds .10 ?
01[12:37] {Threei}  yesm hl
01[12:37] {Threei}  can be fast
[12:37] {scottie} tks
01[12:44] {Threei}  with any help it has nice potential to 1:3 - 1:4
[12:45] {nemo} one could argue indexes setting up long again soon
01[12:46] {Threei}  if SPY loses .60, one would be wrong
[12:47] {nemo} yeah, then support is around .50ish
01[12:47] {Threei}  but one can always drink oneself into oblivion and forget about it
[12:47] {Will49} thinkin' bout that
[12:47] {dino} no kidding, this is slower than friday afternoon
01[12:47] {Threei}  one also must invite me to keep company
[12:47] {Will49} :)
[12:48] {scottie} in .99
01[12:50] {Threei}  here comes one's coveted selling
[12:51] {Will49} you're really into coveting this morning Vad
01[12:52] {Threei}  I am?
[12:53] {Will49} yes, you coveted aggressive entires earlier
[12:53] {Will49} entries
01[12:53] {Threei}  ahhh
[12:54] {Will49} make sure you don't covet your neighbour's wife :)
01[12:54] {Threei}  never
01[12:54] {Threei}  his shoulders wider than my house
[12:55] {Will49} the husband you mean
[12:55] {dptl} lol
[12:55] {Will49} not wider than an AK47 however
[13:02] {scottie} stop .01
[13:02] {scottie} half out
01[13:03] {Threei}  1:1
[13:06] {scottie} 1/4 more out, stop .91
01[13:06] {Threei}  1:2 baby
01[13:07] {Threei}  I am going for 1:4
[13:07] {Will49} tks scottie
[13:07] {robbers} out MPC, thanks Scottie.
[13:07] {scottie} yw
[13:08] {scottie} 1:3 out
[13:08] {patel} great job scottie
[13:08] {Will49} good patience scottie
[13:08] {nemo} finnies barely dropped
[13:08] {scottie} tks
[13:09] {Will49} don't look at it scottie :)
[13:09] {robbers} You can look, just don't covet.
[13:09] {scottie} lol
[13:09] {Will49} :)
01[13:12] {Threei}  on its course to becoming word of the day I see :)
01[13:12] {Threei}  hmmm... why do I find this tstrange:
01[13:12] {Threei}  (CO) IMF's Lagarde: Worldwide economy not as strong as Colombia's
01[13:12] {Threei}  huh?
[13:14] {scottie} We should all start growing coca then
[13:17] {Will49} We have crop in BC that's just as good and doesn't need warm weather :)
[13:17] {Will49} BRITISH Columbia that is
[13:17] {scottie} :)
[13:18] {Will49} that's what I've heard anyway
[13:21] {robbers} And you heard it via what media, a smoke signal?
01[13:21] {Threei}  lol
01[13:22] {Threei}  my latest shedever
01[13:22] {Threei}
[13:23] {Will49} it's a great "reflection" of your talents
01[13:23] {Threei}  no smoke involved
[13:23] {Will49} good one robbers
[13:33] {nemo} ok long here looks good
[13:36] {dino} rgr drop
[13:36] {scottie} stx l .80 if holds .75 ?
[13:36] {dino} rgr hl l .03
01[13:37] {Threei}  can't tell scottie
01[13:37] {Threei}  not sure
[13:37] {scottie} ok
[13:41] {thomcbell} FB - i cant resist - 27.95 break if holding 27.85
[13:42] {thomcbell} "they" are going to try to gun this thing 
[13:43] {thomcbell} some decent size offers at 28 it loks like but this is a nice pattern 
[13:47] {scottie} SNY l .30 ?
[13:49] {thomcbell} FB 1:1
01[13:49] {Threei}  wtg
[13:49] {scottie} good call FB tbell
01[13:49] {Threei}  SNY, probably
[13:50] {scottie} stop .24?
01[13:50] {Threei}  yeah
01[13:53] {Threei}  beauty FB
[13:54] {nemo} gmcr
[13:56] {thomcbell} thanks guys
[13:56] {Will49} you da man
[13:59] {robbers} wtg.
01[14:03] {Threei}  NYSE volume 290M shares, about 16% below its three-month average;. - NASDAQ volume 920M shares, about 15% below its three-month average
[14:08] {dino} pitiful
[14:10] {thomcbell} fcx 32 break i holding 31.90 
[14:11] {thomcbell} sorry i was late  typing 
[14:11] {thomcbell} it looks to good to be true  Vad - 
[14:11] {thomcbell} too obvious
01[14:13] {Threei}  still looks this way to me :)
[14:15] {nemo} looking for finnies to bounce in next few cents
[14:25] {thomcbell} im playing FCX by the book due to market hesitation but otherwise this would not be a scalp for me 
[14:27] {thomcbell} fcx 1:1
[14:27] {thomcbell} stop to break even
[14:31] {thomcbell} SPLK looks very vulnerable on the daily and hourly charts here 
[14:35] {thomcbell} raising stop to 32.04 on FCX 
[14:39] {nemo} How's ur chin vad?
01[14:39] {Threei}  bruised
[14:39] {thomcbell} fcx out 32.04
[14:39] {nemo} srpt
01[14:40] {Threei}  bless you
[14:40] {nemo} oops
01[14:48] {Threei} Short Setup: SLW  .75 break
01[14:48] {Threei}  If holds  .80 
[14:51] {nemo} tna worth a try here
[14:56] {patel} how deos NTES look
[14:56] {patel} 37.30 with stop of 37.40
01[15:00] {Threei}  half lot
[15:02] {patel} 1:1
01[15:03] {Threei}  nice setup
[15:03] {dino} out rgr .40, +.37
01[15:03] {Threei}  wtg
[15:04] {dino} ty
01[15:04] {Threei} Short Setup: FCX  .05 break
01[15:04] {Threei}  If holds  .15 
[15:12] {nemo} fcx ;ppls ;pmg
[15:12] {nemo} right looks long
01[15:13] {Threei}  probably two-sided...
[15:15] {patel} NTES 1:2 out
[15:16] {robbers} good call, Patel
[15:16] {patel} whoa
[15:16] {patel} what happen to NTES 
[15:16] {patel} bid was higher than ask for a second there
[15:17] {patel} glad I got out at the rigth time
01[15:24] {Threei}  Mitsubishi Chemical Holdings Corp. Suspended plans to invest additional �30B by 2015 to increase production of lithium ion battery materials - Nikkei News- Report noting the company anticipated rising demand for the materials uses in electric vehicles, but demand for EVs appear to be slow.
01[15:25] {Threei}  if that was goverment it would push forward anyway, resulting in another loss for taxpayers
[15:27] {scottie} aet l .80 ?
01[15:27] {Threei}  not delighted
[15:27] {scottie} ok
01[15:27] {Threei}  can turn double top just as easy
01[15:27] {Threei}  50/50
[15:28] {nemo} time for spy to piss me off and make a run north
[15:28] {nemo} crissakes iwm chart starts to look like a rebate trader
[15:29] {nemo} yeah, indexes will finish on the highs
01[15:37] {Threei}  OK, we need the conflicting headlines to start flying again
01[15:37] {Threei}  otherwise spooked market won't move, like a deer in headlights
[15:38] {nemo} any economic news tomorrow?
01[15:39] {Threei}  major, no
01[15:39] {Threei}  among numbers, IBT/TIPP economic optimism
01[15:39] {Threei}  NFIB Optimism (small business)
01[15:40] {Threei}  that's about it
[15:40] {nemo} o.k. so it'll be headline driven 
01[15:40] {Threei}  FOMC on Wed
01[15:40] {Threei}  and bidget statement
01[15:40] {Threei}  budget
[15:41] {nemo} Gromyko
01[15:41] {Threei}  and Ben's press-focnference
01[15:41] {Threei}  lol
[15:41] {nemo} he and Brezhnev were the two big soviet names in the 70's
01[15:42] {Threei}  dp... see how nemo advances?
[15:42] {nemo} ?
01[15:42] {Threei}  just so you know, today he also learned the word "pizdets"
[15:42] {nemo} probably heard it before but confused it with "pisdah"
[15:42] {dptl} roflol
01[15:43] {Threei}  1. Describes a kaput situation, one at which fubar is nothing compared to how the situation really is. Can also describe situations of otter stupidity expressed by someone, as well as an obviously bad mental state.
[15:44] {dptl} there is a big diference between thouse two words Nemo
01[15:45] {Threei}  volume ends 17 and 14% below 3 month average
01[15:45] {Threei}  for NYSE and NASDAQ respectively
[15:45] {nemo} I know dp
[15:46] {nemo} However, pisdahs are pisdetz
[15:46] {nemo} in general
[15:46] {nemo} kinda' like one is a subset of the other
01[15:48] {Threei}  AET did form double top
01[15:48] {Threei}  not enough to short it but just enough to kill long
[15:48] {scottie} yes, you were right
01[15:49] {Threei}  hold on, I'll copy this and send to my wife
01[15:49] {Threei}  "see? sometimes I am!!"
[15:49] {scottie} lol
01[15:50] {Threei}  if we weren't this close to eod, I'd be intereasted in SLW .60 short
01[15:55] {Threei}  OK guys, thank you all
[15:55] {Will49} cheers guys
01[15:55] {Threei}  have a good evening, see you tomorrow
[15:55] {patel} take acer
[15:55] {patel} care
[15:55] {thomcbell} later all
[15:55] {dptl} gn
[15:56] {scottie} gn see you all tomorrow