Market Week Wrap-Up

- The last week of August saw another round of sluggish, low-energy trading in the US and Europe. Not even the Jackson Hole conclave did much to puncture the listless feeling on Wall Street, although predictions for a volatile September were widely heard. With a few exceptions, market action was mostly a lead-up to Fed Chairman Bernanke's speech at Jackson Hole, although by mid week most analysts had already concluded that new policy initiatives were not on tap in Wyoming. In the speech, Bernanke held back on specifically promising more QE while leaving the possibility of a later announcement wide open, stating that he would not rule out more asset purchases. The chairman asserted that non-traditional easing has aided the economy in the past and the negative risks of easing are manageable, although there were notes of caution about further QE. Data out this week did not bode well for the global economy, with weak data out of Europe, China, Japan and the US further stoking concerns about the economic outlook. Coming into the week, there was a bit of excitement about another Chinese stimulus plan after weekend remarks by Chinese Premiere Wen, although other officials later tamped down expectations. In Europe, all sorts of breathless reports about the imminent announcement of the ECB's new bond buying program made the rounds; the firmest of these suggested that Draghi will have something to share at the ECB decision on September 6th. Draghi went so far as to cancel his trip to Jackson Hole, saying that he was "too busy" to attend. The Bundesbank is still unhappy about Draghi's plans, and there were rumors out midweek (and later furiously denied) that Bundesbank President Weidmann had threatened to resign over the bond buying program, much like his earlier predecessors Weber and Stark. Hurricane Issac blew into and then out of the Gulf without causing much damage at all, and front-month crude continued to decline from highs above $98 seen last week. Ironically, the one thing Bernanke's speech did help were certain commodities: after his remarks WTI crude spiked back up to $96, while spot gold returned to highs above $1,685 last seen in March. Base metals didn't get much of a lift, however. For the week the DJIA fell 0.5%, the Nasdaq slipped 0.1%, and the S&P500 lost 0.3%.

- The rapid decline in iron ore prices in July and August continued this week, with cost per dwt crashing to around $90, their lowest levels since 2009 and down more than 30% since early May. The sharp declines just this week dragged down the shares of miners, including Rio Tinto and BHP Billiton. On Thursday a widely-read financial press article noted that large shiploads of iron ore continue flowing into China despite very few orders from steelmakers. According to the report, iron ore inventory at Chinese ports is about 100M tons, up from about 70M tons in early 2010. Falling steel demand has undercut the market, and this week metals recycler Schnitzer disclosed that its Q4 earnings would be breakeven, well below expectations. Schnitzer warned that ferrous average net selling prices are expected to decline 10-15% from the third quarter of fiscal 2012. Ferrous sales volumes are also expected to decline 10-15% due to reduced flows of raw materials. Mining equipment name Joy Global's Q3 results were not very strong: the firm missed bottom-line expectations and its backlog declined sequentially for a second consecutive quarter. In addition, the firm cut its FY12 outlook for a second quarter in a row, warning that the deceleration of China demand has deteriorated international markets more quickly and severely than previously expected.

- On the deal front, Hertz finally bagged Dollar Thirfty, two years after it made its first bid for the company. Hertz will buy Dollar Thrifty for $87.50/share in cash, for a total deal value of $2.3B or almost double a $1.2B offer Hertz made in April 2010. Avis entered the bidding early but ultimately gave up after acquiring Avis Europe in mid 2011. In other news, Hudson City Bancorp agreed to merge with M&T Bank in a cash-and-stock deal valued at $3.7B. IBM signed a deal to buy HR software developer Kenexa Corp for about $1.3B, or $46/share, a 43% premium. Recall that SAP bought Kenexa's competitor SuccessFactors for $3.4B cash last December.

- August same-store sales results came in much stronger than expected, with nearly all major retailers beating expectations. Executives commented that sales accelerated in the last two weeks of the month, driven by strong back-to-school shopping. Sales were robust across channels, at both mid-range department names Kohls and Stein Mart, to discount name TJX, to luxury retailer Nordstroms, whose impressive 21% comp gain destroyed consensus expectations driven by the later start to its anniversary sale. Most other retailers handily beat expectations, with apparel names Gap and Limited well above the consensus. The only major miss came from Wet Seal, which is currently restructuring its sales approach.

- EUR/USD remained well above the pivotal 1.2440 level this week, supported by talk of decent bids by sovereign names. Some analysts noted that coordination between Germany and France following last week's meetings would help provide the euro with continued support. On Friday, EUR/USD managed to test above its 100-day moving average of 1.2581 just prior to the Bernanke speech, although it was back around 1.2565 through the bulk of Friday's session. Some analysts noted that the pair had already priced in Bernanke's policy hints at Jackson Hole. The USD did rebound slightly after the release of the speech as Bernanke continued to build the case for more QE, as expected.

- Equity indices in Japan and China slumped further this week thanks to more dismal economic news. Over the weekend China Premier Wen stated that China needs to adopt policies to support exports in order to meet annual economic targets of +7.5% GDP growth in 2012, raising hopes that Beijing was mulling fresh stimulus. However these hopes were diminished when NDRC commented that the government's prior moves to support the economy were gaining traction. Analysts commented that there was little chance of any big moves before this year's political leadership transition is complete, a process that will play out over the course of October and November. In Japan, the monthly Cabinet Office economic report cut its assessment of Japanese economy for the first time since Oct 2011.

TradeTheNews

Aug 31 2012

Having fairly nice as it is, got this 1:3 Catch of the Day as icing on a cake. Typical JBE.

Overall, ended the day and August with it on a high note. Really ready for September gradual ramp-up in volume and activity.

Session Time: Fri Aug 31 00:00:00 2012
[08:47] {nemo} so, why the market so happy?
[08:47] {Threei}  shrug
[08:48] {nemo} no news, huh?
[08:50] {Threei}  all the usual talk about Fed etc
[09:03] {jackharry} good morning
[09:05] {Threei}  jack :)
[09:08] {RonS} gm
[09:08] {Threei}  ron :)
[09:08] {scottie} good morning
[09:08] {Threei}  scottie :)
[09:13] {cipher} gm
[09:13] {Threei}  cipher :)
[09:18] {Threei}  (US) Preview: Fed Chairman Bernanke to speak at Jackson Hole symposium at 10:00ET- There will be a prepared text released at 10:00ET, but no Q&A after the speech. - Baseline expectations are that Bernanke will use the speech to set the table for QE3 at the September FOMC meeting. In prior years Bernanke has used the Jackson Hole speech to give a frank assessment of the current economic outlook and reemphasize willingness and ability to do more to support the recovery, but not to make any explicit announcement of new policy action.
[09:19] {Threei}  For context, note that in Aug 2010 Bernanke signaled a willingness to move ahead with QE2, but the program was not launched until over two months later in early Nov. In this election year, Bernanke may follow a similar pattern, hinting at QE3 today, but potentially waiting until as late as Dec to launch the program to avoid any political taint on the program (i.e. potentially using the Sept and Oct FOMC meetings only for incremental policy adjustments). Such a delay would also give the Fed more data points to examine that can help shape the next policy action.
[09:20] {Will49} GM
[09:20] {Threei}  will :)
[09:20] {Threei}  - Notably, most of the more hawkish to moderate wing of the Fed (including Fisher, Plosser, Bullard and Kocherlakota) have made public statements on their own policy outlook within the last week, giving some contrast to the expected comments from Bernanke.
[09:20] {Threei}  Have Market Intel? TradeTheNews.com Tip Line -} Click Here
[09:20] {Threei}  we also have Chicago PMI at 9:45, with 3 min early release to subscribers,
[09:21] {RonS} 7.9 Earthquake in Phillipines, tsunami watch
[09:21] {Threei}  final Michigan Confidence at 9:55
[09:21] {Threei}  and July Factory Orders at 10
[09:22] {Beau} good morning all
[09:22] {Threei}  beau :)
[09:22] {Threei}  (PH) Magnitude 7.9 quake reported approx 100 mi east of Samar, Philippines; Tsunami warning for Far East countries - USGS
[09:23] {Threei}  FB... sheesh
[09:25] {ese} gm
[09:25] {Threei}  ese :)
[09:25] {nemo} spy iwm looking long here
[09:25] {ese} just noticed that my intelliscan expires in 3 days vad..........can you update that for me
[09:27] {Threei}  look again
[09:28] {ese} tks 39800 days left ......that should last me
[09:29] {Threei}  lol
[09:29] {ese} just kidding
[09:29] {dptl} gm
[09:29] {Threei}  dp :)
[09:30] {nemo} both iwm spy at r2 on daily
[09:30] {Threei}  let's be careful, a lot of things happen over next 30 min
[09:30] {Threei}  FCX double sided, .10 - .20
[09:30] {Threei}  half lot
[09:30] {Threei}  1:1
[09:30] {Threei}  lol
[09:31] {Threei} Long Setup:  FSLR  .60 break
[09:31] {Threei}  hl
[09:31] {Threei}  If holds  .50
[09:32] {Threei}  Invalidated
[09:32] {Threei} Short Setup: FCX  .25 break
[09:32] {Threei}  If holds  .35
[09:33] {thomcbell} bhp short small
[09:33] {thomcbell} bhp short small - will add thru break of low
[09:34] {thomcbell} ok full position on
[09:34] {nemo} look for iwm bounce .15ish-.12ish
[09:34] {nemo} tna .30ish-.20ish
[09:34] {thomcbell} using a 0.86 stop on bhp
[09:35] {nemo} spy likely wants to get to .62ish R3 daily and WPP there
[09:35] {Threei}  1:1
[09:37] {cipher} aapl l.71
[09:37] {Threei} Short Setup: LVS  .20 break
[09:37] {Threei}  If holds  .25
[09:38] {cipher} out aapl .23 +.52
[09:38] {Threei}  no go
[09:38] {nemo} chi pmi
[09:38] {Threei}  in 4 min
[09:39] {Threei}  FCX 1:2, out
[09:39] {nemo} bidu below yesterday's close
[09:39] {Threei}  Tsunami warning lifted for Japan and Taiwan after Phillipine earthquake
[09:42] {Threei}  LVS rinse
[09:42] {nemo} bidu DOWN elevator
[09:42] {Threei}  hate it
[09:42] {cipher} bidu l .81
[09:43] {nemo} hey cipher!  give me six numbers...
[09:43] {thomcbell} covered 1/3 bhp at 65.60
[09:43] {thomcbell} fcx better sensei
[09:43] {nemo} cipher, don't hang around too long on this
[09:44] {cipher} out .18 thx
[09:44] {Threei}  muted first reaction on PMI
[09:44] {Threei}  *(US) AUG CHICAGO PURCHASING MANAGER: 53.0 V 53.2E
[09:44] {Threei}  ok... not much to react on, lol
[09:46] {thomcbell} flat bhp
[09:47] {dino} gm
[09:47] {cipher} hey dino
[09:47] {Threei}  dino :)
[09:48] {Threei} Short Setup: POT  .45 break
[09:48] {Threei}  If holds  .55
[09:49] {dolores} bernanke in 1o  minutes?
[09:49] {dolores} 10
[09:49] {Threei}  yes
[09:50] {nemo} iwm selling off spy not so much
[09:54] {ese} more good news
[09:54] {Threei}  *(US) AUG FINAL UNIVERSITY OF MICHIGAN CONFIDENCE: 74.3 V 73.6E V
[09:55] {Threei}  Invalidated  POT
[09:55] {thomcbell} today is a minefield - lol
[09:59] {dino} yeah, most likely waste of time
[09:59] {dptl} jcp?
[09:59] {Threei}  *(US) JULY FACTORY ORDERS: 2.8% V 2.0%E
[09:59] {ese} and more good news
[09:59] {Threei}  Ben's speech
[10:00] {nemo} this is wild action
[10:00] {ese} Bernackers will really be able to slag the economy today
[10:00] {Threei}  ese... it's sim[ply about whether he promises more QE or not
[10:00] {Threei}  he doesn't market drops
[10:00] {Threei}  he does, market rallies
[10:00] {ese} good news is bad news
[10:01] {Threei}  (US) FED CHAIRMAN BERNANKE: WOULD NOT RULE OUT FURTHER ASSET PURCHASES, WILL NOT RULE OUT FURTHER ACCOMODATION AS NEEDED TO AID GROWTH GAUGING IMPACT OF QE ON THE US ECONOMY IS DIFFICULT, FED MUST NOT LOSE SIGHT OF DAUNTING ECONOMIC CHALLENGES FACING THE US - JACKSON HOLE SPEECH
[10:02] {dolores} thats the same he said last time
[10:02] {dino} pretty much
[10:02] {Will49} keep the sheeple off balance
[10:02] {dino} should be non-event
[10:03] {Threei}  POT is valid again
[10:03] {Threei}  same setup
[10:03] {dptl} jcp .95 short?
[10:04] {Threei}  I think so
[10:04] {cipher} not shortable for me
[10:05] {dptl} same here not available
[10:05] {Threei}  JCP?
[10:05] {dptl} ye
[10:05] {cipher} y
[10:05] {ese} so ..........no direction from him market tanks
[10:05] {ese} as per usual
[10:05] {Threei}  POT 1:1
[10:06] {Threei}  lol... whnat direction do you expect from him?
[10:06] {Threei}  "I will buy more and more bonds and keep rates at historical lows indefinitely"?
[10:07] {Threei}  that would sent market rocketing
[10:07] {dptl} cien .65 long?
[10:07] {Threei}  is this what we need?
[10:07] {Threei}  nah
[10:08] {thomcbell} bhp gimme a break
[10:08] {Threei}  here:
[10:08] {Threei}  **NOTE: While Bernanke did comment on the cost/benefit analysis of past and future QE programs, he did not discuss any other policy options being discussed or any details about how QE3 might be shaped such as IOER cut or "open ended" QE.
[10:08] {Threei}  this is why market drops
[10:09] {Threei}  and if no any QE ever comes, I will have zero complaints
[10:10] {Threei}  this market rallied for months and months for no other reason than easy money sloshing around plus promise of more
[10:10] {nemo} would think spy might test yesterday low
[10:13] {Threei}  upon further reading his speech... this guy must go
[10:13] {Threei}  he is going to destroy economy's chance to recover for decades if allowed to continue his policies
[10:13] {ese} who bernut balls or the speech writer
[10:14] {ese} ahhhhhh bernut balls
[10:14] {Threei}  Romney better win for his promise to fire Ben if for no other reason
[10:14] {Will49} isn't Bernank "just following orders"?
[10:14] {Threei}  whose?
[10:15] {Will49} ?
[10:15] {ese} nope......he's totally in charge
[10:15] {dino} supposed to be independent
[10:15] {Will49} hard to believe
[10:19] {nemo} this is nuts
[10:19] {nemo} last day of August should be dead...hahahahahahahahahahaha
[10:20] {Threei}  dp, can I change my response re: CIEN?
[10:20] {dptl} :)
[10:23] {Threei} Short Setup: FCX  .40 break
[10:24] {Threei}  If holds  .45
[10:26] {Threei}  nah
[10:27] {Threei} Short Setup: POT  .70 break
[10:29] {Threei}  target .45, 3 partials
[10:29] {Threei}  one just above .60
[10:30] {Threei}  pout first piece
[10:30] {Threei}  out
[10:30] {Threei}  stop to .71
[10:30] {Threei}  second between .50 and .55
[10:31] {scottie} POT +.10 ty Vad
[10:31] {Threei}  out second piece
[10:32] {Threei}  stop to .66
[10:32] {Threei}  yw
[10:33] {nemo} pot at vwap
[10:34] {Threei}  done
[10:34] {Threei}  no complaints, decent one
[10:36] {dino} adding dia sept puts
[10:42] {nemo} tlt wow
[10:43] {Threei} Long Setup:  SLW  .95 break
[10:44] {nemo} everything is starting to look like the indexes
[10:47] {Threei}  let's keep stop under .90
[10:47] {Threei}  don't want to give anything too much room
[10:48] {Threei}  out
[10:55] {cipher} ibm l..25
[10:55] {cipher} out 1/2 .39+.14
[10:56] {cipher} out rest .47 +.22
[10:56] {Threei} Long Setup:  GLD  162 break
[10:57] {Threei}  stop under .85
[10:57] {Threei}  target 1:3
[10:58] {Threei}  1:1
[10:59] {Threei}  1:2
[11:00] {Threei}  1:3, over and out
[11:00] {Threei}  can I go home?
[11:01] {Will49} unbelievable!
[11:01] {Threei}  what is?
[11:01] {Threei}  that I am still sober?
[11:01] {Will49} rip up
[11:01] {nemo} We're going to go much higher in september it looks like
[11:01] {Threei}  nokidding
[11:02] {Threei}  out too soon
[11:02] {nemo} 153 by end of September
[11:03] {Threei}  frikin SLW rinsed
[11:04] {nemo} http://www.kfiam640.com/pages/Handel2.html?article=10386009
[11:07] {Will49} nemo what's rationale for "going much higher" in Sept
[11:07] {nemo} I started a half hour ago
[11:08] {nemo} nothing is keeping this market down
[11:08] {nemo} and we broke the range on the spy this week
[11:08] {nemo} so likely move is up
[11:08] {nemo} September is usually the weakest month, so we'll get the reverse this year.
[11:09] {Threei}  unless German court destroys the planet
[11:09] {nemo} Still hinges on reaction to German Supreme Court, but...they will cave and not let the European experiment fail even if it is against German law
[11:09] {nemo} nah
[11:09] {nemo} won't happen
[11:09] {Threei}  visual: http://goo.gl/wP0Om
[11:09] {Will49} tks nemo
[11:10] {Threei}  : Bernanke Shoulders the Bazooka But Holds Fire
[11:10] {nemo} just my opinion...and we know what those are worth
[11:10] {Threei}  - Market response to Fed Chairman Bernanke's speech at the Jackson Hole conference has been somewhat choppy. The S&P500 gave its thin gains from the first 30 minutes of trading and returned to unchanged before heading back towards its session highs again post speech, while the EUR/USD pair have see-sawed from seven-week highs just shy of 1.2630 to 1.2565 and back again
[11:11] {Will49} some opinions are better than others
[11:11] {Threei}  All-in-all, Bernanke seems to have held back on endorsing more QE immediately while leaving the possibility of a later announcement wide open, stating that he would not rule out more asset purchases. The chairman asserted that non-traditional easing has aided the economy in the past and the negative risks of easing are manageable, although there were notes of caution about further QE in the speech.
[11:11] {nemo} only based on historic performance, and....
[11:11] {nemo} past performance is no guarantee of future returns
[11:11] {Threei}  my favorite writer on opinions:
[11:11] {Threei}  Your opinion is irrelevant. Really. The universe doesn't care. Neither does anyone else. They have their own opinions, they don't need yours. And if they do ask for your opinion, they don't really want your opinion -- what hey want is for you to agree with theirs.
[11:11] {nemo} but I figure judges are just bureaucrats
[11:12] {nemo} korreqt
[11:12] {nemo} may have a bunny movie later
[11:12] {Will49} that's your opinion
[11:13] {Will49} but it's your bunny
[11:13] {Will49} :)
[11:13] {nemo} korreqt
[11:19] {nemo} spy basically on WPP wouldn
[11:19] {nemo} wouldn't it be funny if they kept it here.....nah, market isn't rigged
[11:23] {dino} calling it a day guys, out dia puts -.06
[11:24] {Threei}  have a great long weekend dino
[11:24] {RonS} have a good weekend dino...
[11:25] {Threei}  PIMCO ?@PIMCO
[11:25] {Threei}  Gross: #Bernanke to go out with his guns blazing. #QE3 a near certainty. It will be open-ended but increasingly impotent.
[11:27] {dino} thx guys
[11:29] {Threei} Short Setup: GLD  .50 break hl
[11:29] {Threei}  If holds  .60
[11:31] {dptl} bhi .90 break long?
[11:37] {Threei}  can't tell
[11:37] {dptl} in.91
[11:46] {Threei}  ES) S&P said to have cut the ratings of Spain region of Catalonia to junk - financial press **REMINDER: 08/28 07:48:07 : (ES) Spain region of Catalonia said to be asking for �5.023B, tapping liquidity facility - financial press
[11:46] {dptl} out -.07 bhi
[11:48] {Threei} Long Setup:  TZA  .55 break
[11:48] {Threei}  If holds  .50
[11:56] {Threei}  I am lost about some pieces in news, papers and all this crap
[11:56] {Threei}  didn't this country pronounce racism, ageism and sexism to be wrong?
[11:56] {Threei}  how come it's fine to deride OLD WHITE MEN everywhere?
[11:57] {RonS} only if you are a white male...
[11:57] {Threei}  wtf
[11:58] {Threei}  I was born male, and white, and we all are or going to be old. What is it I should feel guilty about?
[11:59] {Threei}  move your old white butt TZA
[11:59] {Threei}  want to exit whole thing closer to .65
[11:59] {Threei}  no partials
[11:59] {RonS} old white males seen as the root of all evil...just look at joe biden...
[12:00] {Threei}  well... yeah. That makes sense
[12:00] {RonS} lol
[12:00] {Threei}  I feel ashamed of belonging to the same category
[12:00] {Threei}  I'lll connsole myself by the thought that he is stupid
[12:01] {Will49} think karma Vad
[12:02] {ese} NOT EVEN CLOSE VAD.......needs to specify old white males with glass carbon copies of AK47's filled with vodka............not even close
[12:02] {Threei}  lol
[12:02] {Threei}  ese, ypu have the best consolation suggestions I could think of
[12:02] {ese} tks........any time
[12:03] {Threei}  got any beautiful gils for me to photograph? I'd feel even better
[12:03] {ese} lol
[12:03] {Threei}  and we would make dp go insane of envy
[12:03] {ese} if thats the case i'll start lookin
[12:04] {Threei}  he bookmarked your gallery and clicks it 5 times a day
[12:04] {dptl} lol
[12:04] {Threei}  7 on weekends
[12:04] {Threei}  and who copuld blame him really... http://themidnights.com/images/gallery-new-large/A7148335.jpg
[12:05] {Threei}  or http://themidnights.com/images/gallery-new-large/A7148365.jpg
[12:05] {ese} those are really good pictures
[12:05] {dptl} that's it.....you did it again
[12:05] {Threei}  I mean yesterday my camera spoke to me... asked when I am taking it to this kind of assignment again
[12:05] {ese} were still trying to work those into the website..........i owe for those when we do
[12:06] {ese} lol
[12:06] {Threei}  threatened to refuse to take photos of stupid landscapes
[12:06] {ese} rotf
[12:06] {Threei}  until I show it pretty girls again
[12:07] {dolores} GLD breaking 163 again
[12:08] {Threei}  good boy TZA
[12:08] {Threei}  out
[12:08] {Threei}  .66
[12:08] {scottie} .67 +.12 ty
[12:08] {Threei}  :)
[12:09] {Threei}  amazing what we are squeezing out of the last day of August, also last day before long weekend
[12:09] {Threei}  wow... didn't expect such drop
[12:10] {Threei}  too bad, shnould have continued partialing and trailing
[12:10] {Threei}  over 20 cents TZA... with 5 cents risk
[12:10] {Threei}  don't see any news to justify the drop
[12:11] {dolores} delayed effects of bernanke
[12:11] {Threei}  hehe
[12:11] {dolores} he was answering questions? after the speech or later?
[12:12] {Threei}  no
[12:12] {Threei}  hey, I just found out what % of US population have never visited Earth
[12:12] {Threei}  at all
[12:12] {Threei}  they live on Mars
[12:12] {Threei}  35% of Likely Voters believe the president is doing a good or excellent job handling economic issues. Forty-four percent (44%) give Obama a poor rating in this area.
[12:14] {Threei}  now, this is rich:
[12:14] {Threei}  Facebook Facebook is said to be planning to crack down on "fake likes" from malware, bulk purchases and compromised accounts - financial press***Note that recent reports have indicated advertiser unhappiness about the "like" totals on their pages being inflated from questionable sources.
[12:14] {Threei}  they mean someone made malware to click on ads and make money for FB?
[12:15] {Threei}  pardon me for being crude, but I think the symbol should be MFB
[12:15] {Threei}  or MF for short
[12:16] {dolores} about to break lows FB
[12:16] {Will49} lol
[12:16] {Threei}  still not shortable
[12:16] {Threei}  crap, I wanted to short this thing from day 1
[12:16] {Threei}  and not for a scalp
[12:17] {nemo} what, FB, np for me
[12:24] {Threei}  Bankia (ES) Spain FROB to make immediate injection of capital into Bankia; FROB injection is an 'advance' on the planned aid from the European bailout fund for Spain banks
[12:26] {nemo} spy touched the trend line at the low
[12:35] {dolores} Spain is fighting with brussels about bankia
[12:35] {dolores} its political
[12:35] {dolores} they do not want to harme the preferent holders
[12:36] {dolores} which are etail investors and were cheated by bankia
[12:36] {dolores} and brussels wants to cut 70 % off the value
[12:38] {nemo} can you say trade war?:  http://thetechblock.com/apple-loses-patent-suit-against-samsung
[12:38] {Threei}  I dream of Spain squeezing a few hundred billion out of Brussels, then exiting EU
[12:39] {Threei}  I will cheer and applaud
[12:40] {Threei}  Will may call it karma... I'll call it international friendship
[12:43] {nemo} I call it extortion
[12:44] {nemo} nflx long .60  breakstop under .50
[12:44] {Threei}  you say it as if it were something bad
[12:44] {nemo} no I don't
[12:44] {nemo} You know my motto...which I can't write here
[12:55] {nemo} stop to .60
[12:56] {dolores} FCX testing highs
[13:11] {Threei}  (EU) ECB is said to be planning to hand over new bond buying plans to member central banks on Sept 4th, central banks to have 24 hours to review and digest the plans ahead of ECB policy meeting - financial press***Note that the next ECB rate decision is scheduled for Sept 6th.
[13:12] {RonS} mdvn halt
[13:12] {Threei}  somehow market is not overly happy about that
[13:12] {Threei}  yeahm drug approval
[13:12] {Threei}  MDVN FDA approves Xtandi for prostate cancer
[13:13] {Threei}  want to see how clinical idiots think?
[13:13] {Threei}  well, if you can call this process thinking
[13:14] {Threei}  look:
[13:14] {Threei}  (US) Columbia University professor Michael Woodford: Conditional nature of Fed's forward guidance has limited its effectiveness- The Fed's "forward guidance" about the future path of the federal funds rate will be ineffective, non-credible and perhaps even counterproductive if it is left conditional. - Only a firm committment to keep the funds rate near zero longer than the Fed otherwise would will work to stimulate economic activity.
[13:14] {Threei}  and to add some nuance to his idiocy, he continued:
[13:14] {Threei}  - Questions the effectiveness of large-scale asset purchases, but believes purchases of MBS could be more helpful than buying Treasury securities
[13:14] {Threei}  yup, that's right
[13:15] {Threei}  let's commonalize MBS losses further
[13:17] {Threei}  mutualize?
[13:19] {Threei}  don't answer all at once
[13:19] {Will49} the answer is written on the wind:)
[13:21] {Threei}  I don't know how to ask the wind
[13:21] {Will49} Opinion of an old white guy is that the "me generation" politicians will do whatever they have to do to keep the ship upright and to hold onto power. They will make sure they "get theirs" and the rest of us be damned
[13:24] {Threei}  add ivory tower professors to that roster
[13:26] {Will49} and many CEOs
[13:27] {thomcbell} Have a good weekend guys -
[13:27] {Threei}  have a good one tbell
[13:27] {RonS} cya thb
[13:27] {Will49} take it easy tom
[13:27] {Will49} thom
[13:43] {Threei}  (ES) Moody's: Spain bank aid request will not trigger an automatic downgrade- Continued debt market access is key to Spain keepings its investment grade sovereign credit rating (currently Baa3). - Will wait for the full release of Spain bank aid plan and the next ECB meeting before conducting a downgrade review. - A full sovereign bailout of Spain (such as those offered to Portugal and Ireland) would trigger a ratings downgrade, taking Spain rating to 'junk.' **REMINDER: 08/30 (ES) Moody's: Review of Spain sovereign Baa3 rating likely to continue through end of September.
[13:51] {nemo} nice of nflx to stop me out and then keep on going
[13:56] {RonS} outta here...have a good weekend everyone
[13:56] {Will49} See ya Ron
[13:56] {RonS} ;)
[13:57] {Threei}  have a good one ron
[14:10] {nemo} spxu might be a play here
[14:22] {dptl} so we are closed on monday right?
[14:22] {Threei}  well... market is
[14:22] {Threei}  I personally am open to a lot of opportunities
[14:24] {Threei}  computers pack up and move back from, Hamptons this weekend
[14:25] {dptl}  ok, have a good weekend all.....see ya tuesday
[14:25] {Threei}  take care dp
[14:26] {Will49} see ya DP
[14:36] {nemo} stealing my line Vad?
[14:38] {nemo} GDX bull flagging?
[14:39] {Threei}  yes
[14:39] {Threei}  to stealing
[14:40] {nemo} have to use a better communist word: expropriate
[14:40] {Threei}  right
[14:41] {Threei}  GDX just stalled
[14:41] {nemo} ahhh...yeah....I know, that's why I said it
[14:41] {Threei}  no idea which way it resolves
[14:41] {Threei}  russian version of the saying in revolution times was, expropriate expropriators
[14:42] {nemo} yep...they pretend to pay us, we pretend to work
[14:42] {Threei}  that was 70 years later :)
[14:44] {dolores} FB will test that bid  at 18?
[14:44] {dolores} support?
[14:44] {nemo} fb, can't even look at that stock
[14:45] {Threei}  I don't believe this support will hold
[14:45] {nemo} support at 0
[14:45] {nemo} they're taking it private
[14:46] {Threei}  give it to them at $50
[14:46] {Threei}  a dollar less, take them to the court
[15:12] {scottie} OK guys, that's it for me, have a great weekend all, see you tuesday.
[15:12] {Threei}  take care scottie
[15:13] {nemo} iwm coudl bounce here or, when spy hits .92is
[15:13] {nemo} .92ish
[15:15] {nemo} l tna .o2 small
[15:15] {nemo} partial .12
[15:16] {nemo} stop to b/e
[15:16] {nemo} so spy got to .95ish
[15:16] {nemo} anybody talk to the bird?
[15:17] {nemo} anybody awake?
[15:17] {Threei}  no, why?
[15:17] {nemo} cool
[15:17] {nemo} offering .18
[15:18] {Will49} just us chickens
[15:19] {nemo} would think spy should go to vwap
[15:19] {Threei}  why are we trying to squeeze something out of this
[15:20] {nemo} I'm not trying, I did
[15:20] {Threei}  we had the best August we could think of, as far as augusts go
[15:20] {Threei}  and finished it on a high note
[15:20] {nemo} go ahead, quit
[15:20] {nemo} you already took a day off this week
[15:20] {Threei}  eqzaktly where I am going
[15:20] {Threei}  heh... I wish
[15:20] {nemo} yeah, go home to your wife
[15:21] {Threei}  let's have a great long weekend
[15:21] {Threei}  and star Sept rested and relaxed
[15:21] {Will49} see you in three
[15:21] {Threei}  see you all on Tuesday!
[15:21] {nemo} volume likely won't pick up much next week, week after
[15:21] {robbers} See you, Three, take care.
[15:22] {nemo} o.k. spy basically at vwap

Aug 30 2012

2 stops, 10 and 5 cents, 2 wins, 30 and 20 cents. And a whole lot of boredom. And here is how heroic Victoria residents take the earthquake in stride.

Session Time: Thu Aug 30 00:00:00 2012

[08:18] {nemo} interesting, spy and iwm bottom at iwm's Weekly Pivot

[09:06] {jackharry} good morning

[09:06] {Threei}  jack :)

[09:06] {nemo} john harold

[09:06] {jackharry} good to have you back Vad

[09:07] {Threei}  thanks

[09:07] {Threei}  day from hell

[09:07] {Threei}  power outage all day long

[09:07] {Threei}  with earthquake at the finish

[09:09] {scottie} gm

[09:09] {Threei}  scottie :)

[09:09] {scottie} finally found a way to take a day off...

[09:10] {Threei}  heh

[09:10] {Threei}  some bird did it for me flying into wire

[09:10] {scottie} forgot to pay for your BC Hydro bill and then blame it on some poor bird

[09:10] {Threei}  lol

[09:11] {Threei}  but the problem was, instead of utilizing it by going for a walk or crabbing, I sat here for hours waiting, because BC Hydro kept telling me "30 min more"

[09:16] {dolores} hello GM

[09:16] {Threei}  dolores :)

[09:18] {Beau} good morning all

[09:18] {Threei}  beau :)

[09:19] {Threei}  oh, and of course when I thought of calling will or ese to ask them to tewll the room what happens, I find my cellphone battery empty

[09:21] {scottie} ust have been a loooong day...

[09:21] {scottie} must

[09:22] {Threei}  about an hour before market close I gave up and went out, and it was all good for 3 hours... then earthquake happened, lol

[09:22] {Will49} GM everybody!

[09:22] {Threei}  will :)

[09:26] {thomcbell} bhp down decent 

[09:26] {dolores} VAD an earthquake?

[09:26] {dolores} where?

[09:26] {Threei}  Victoria

[09:27] {Threei}  luckily minor one, but right under the city

[09:27] {thomcbell} gold up - fcx more of a gold stock today i suppose 

[09:27] {Threei}  FCX?

[09:27] {Threei}  why gold?

[09:27] {dptl} gm

[09:27] {Threei}  dp :)

[09:28] {Threei}  are we so out of gold that copper will do?? :)

[09:28] {thomcbell} well bhp and rio down over 2% and fcx down 0.4

[09:28] {ese} mornin

[09:28] {Threei}  ese :)

[09:28] {ese} nemo.....how'd MCP turn yesterday

[09:29] {dolores} BPT getting interest here?

[09:29] {Threei}  60 cents spread

[09:29] {dino} gm

[09:29] {thomcbell} bhp big gap down to near 50sma - im going to look for a n early long setup 

[09:29] {Threei}  dino :)

[09:31] {Threei}  Nearly 1,500 customers are without power in Central and North Saanich this morning.

[09:31] {Threei}  BC Hydro says the cause is under investigation. Power has been out since about 7 o'clock this morning; Hydro anticipates having it restored by 10 o'clock today.

[09:31] {Threei}  The outage includes a considerable portion of the peninsula between Keating Cross Road and McTavish.

[09:31] {Threei}  good to know there was 1499 more

[09:32] {Threei}  but I beg to differ about 10 o'clock. More like 4 pm

[09:32] {Threei} Short Setup: FCX  .20 break hl

[09:32] {Threei}  If holds  .30 

[09:32] {nemo} spy bounce

[09:33] {Threei}  RBA, Off Wall Street negative comments

[09:34] {Threei} Long Setup:  SLW  .45 break

[09:34] {Threei}  If holds  .35 

[09:35] {dolores} FCX still on?

[09:35] {Threei}  yes

[09:36] {Threei}  half lot only, jerky action

[09:36] {Threei}  SLW target 1:2

[09:41] {dino} shld

[09:41] {RonS} heard they were dropped from sp 500

[09:41] {dino} yeah, thats all i can find

[09:42] {dino} s3 53.04

[09:42] {Threei}  yes, LYB replaces it

[09:42] {dino} vra, cien seem odd. slight miss but rev increases

[09:43] {RonS} vra 44% float short

[09:43] {dino} 15.49 cin gap area

[09:43] {dino} opps thru that

[09:44] {dino} shld sm l .75

[09:45] {Threei}  FCX must die

[09:45] {Threei}  stays near low while SPY moves up

[09:45] {dino} lol

[09:45] {Threei}  any SPY blip, ot's done

[09:46] {Threei}  FCX target 1:3

[09:46] {Threei}  if it loses .15, there will be a whole lot of disappointed byers

[09:47] {dino} adding cien sept call

[09:47] {Threei}  bailing out like late bar patrons after last call

[09:48] {nemo} mmmhhhh iwm in the vicinity of WPP

[09:48] {dino} shld stop -.32

[09:50] {dino} brli

[09:50] {Threei}  20 min in, nothing happens

[09:50] {Threei}  normally volatile at the open stocks don't move 10 cents

[09:50] {dino} brli sm l .41

[09:51] {Threei}  ahh, finally FCX

[09:51] {nemo} fdo dino

[09:51] {Threei}  testing that .15

[09:51] {Threei}  and losing it

06[09:51] * Threei hits FCX over the head with 2x4

[09:52] {Threei}  bail drinks, bail

[09:52] {Threei}  1:1

[09:52] {Threei}  drinks = drunks

[09:52] {Threei}  I guess

[09:52] {dino} brli pulp type, all over the tape

[09:52] {dino} wide

[09:53] {Threei}  stop to .22

[09:54] {dino} shld sm l .32

[09:56] {dino} out shld .64, +

[09:56] {dino} .33

[09:56] {Threei}  wtg

[09:56] {dino} ty

[09:58] {Threei}  FCX is on a verge of moving 1 cent closer to 1:2

[09:58] {dino} shld pattern 53-53.70s

[09:59] {Threei}  there

[09:59] {Threei}  SLW no go

[09:59] {nemo} watch 52.50 area shld dino

[10:00] {Threei}  1:2

[10:00] {Threei}  covered another piece .01

[10:00] {Threei}  stop to .12

[10:00] {nemo} this is trend line spy

[10:00] {nemo} MR1 at .52

[10:00] {dino} cutting brli .45, +.04.

[10:01] {dino} gotta hop for two hours, closing

[10:01] {Threei}  FCX baby

[10:01] {Threei}  hit that 1:3

[10:01] {nemo} try for .45

[10:01] {nemo} fcx

[10:02] {thomcbell} that is a good one vad 

[10:02] {Threei}  ty

[10:03] {cipher} shld +.42 thx dino

[10:04] {nemo} well, shld didn't get to .50ish

[10:05] {cipher} shld s .50

[10:05] {nemo} vwap likely here

[10:06] {cipher} bailed at .44 +.06

[10:07] {nemo} Eddie should start buying

[10:12] {thomcbell} this coh chart looks poised for a big up move to me on the daily chart 

[10:15] {cipher} coh +.18 thx thom

[10:15] {nemo} think lvs is a short coming

[10:16] {ese} hmmm.......the expendables got me

[10:19] {cipher} coh s ..76

[10:20] {nemo} your stop above .90?

[10:20] {cipher} y

[10:20] {nemo} cool

[10:20] {cipher} out 1/2 .55

[10:20] {Threei}  nice one

[10:20] {nemo} trying for .25ish?

[10:20] {cipher} COV .51

[10:22] {cipher} coh l.46

[10:23] {cipher} lvs s +.09 thx nemo

[10:24] {cipher} out coh -.02

[10:25] {nemo} here comes .25ish coh

[10:25] {nemo} you got the yips today cipher?

[10:25] {thomcbell} just when everyone thought market couldnt go down before bernanke

[10:26] {cipher} coh l.22

[10:27] {cipher} aapl l.77

[10:27] {ese} when does he speak bad......am looking on the calendar and don't see it

[10:27] {Threei}  (SK) Slovakia PM Fico: There is a 50/50 chance of a breakup in the EMU: Slovakia must seek to be part of the 'core' assuming a breakup does occur

[10:28] {Threei}  finally

[10:28] {Threei}  FCX 1:3

[10:28] {Threei}  over and out

[10:28] {Threei}  1 hour trade!

[10:28] {thomcbell} bought small ssys 66.52 

[10:29] {nemo} vwap and the whole on coh

[10:29] {nemo} are the same

[10:29] {nemo} lotsa' lows popping up though

[10:29] {nemo} energy and resources mostly with a smattering of tech

[10:30] {RonS} ese the clam's speech is tomorrow

[10:30] {cipher} out aapl .98

[10:30] {Threei}  NYSE volume 105M shares, about 32% below its three-month average; decliners lead advancers by 3.8:1. - NASDAQ volume 265M shares, about 26% below its three-month average; decliners lead advancers by 3.5:1.

[10:31] {ese} tks ron

[10:31] {cipher} tna l .60

[10:31] {nemo} coh long around here interesting

[10:31] {cipher} out 1/2 tna .70

[10:32] {cipher} out rest .80 +.20

[10:32] {nemo} maybe I'll call you lobster

[10:32] {nemo} you bottom feed with the best of them

[10:34] {cipher} aapl l.51

[10:35] {Will49} machine-gun cipher

[10:35] {nemo} love it S3 on aapl is "666"ish

[10:35] {nemo} now we know cipher's secret

[10:35] {nemo} big volume coh

[10:35] {nemo} l .02 stop under the whole

[10:35] {nemo} only giving this a couple cents

[10:36] {nemo} needs to break .07

[10:36] {nemo} market weak though

[10:37] {Threei}  good call on LVS short

[10:37] {nemo} NYSE on the offer hate that

[10:37] {nemo} offering .24

[10:38] {nemo} FSLR was even better but hard to borrow

[10:38] {nemo} I saw that at 22.90

[10:38] {cipher} out aapl  .79 +1.28

[10:38] {nemo} man's posessed

[10:39] {nemo} tna break .65

[10:39] {nemo} stio ybder ,56'

[10:39] {nemo} nope, .76ish next support for iwm

[10:40] {nemo} thinking .60 break now

[10:40] {nemo} oh damn coh

[10:41] {nemo} scratched coh

[10:41] {nemo} indexes look too weak

[10:42] {nemo} wow look tfm

[10:46] {cipher} tfm l.00

[10:47] {cipher} cat l.96

[10:50] {nemo} that's one of the larger spreads I've seen on cat

[10:50] {cipher} cat stopped .85 -.11

[10:50] {nemo} duh...looking at tfm..wtf

[10:50] {Will49} ciper's credo: win some lose some...next!

[10:50] {nemo} tfm

[10:50] {Will49} good credo

[10:51] {nemo} Some will, some won't, so what

[10:51] {Will49} eggsactly

06[10:51] * nemo slaps will49 around with a large dictionary Vad edition

[10:51] {Threei}  sometimes you win, sometimes you lose, and sometimes it rains

[10:51] {Will49} ouch

[10:52] {Threei}  yeah, what's with spelling

[10:52] {nemo} Life's a bitch then you die

[10:52] {Threei}  "eqzaktly"

[10:52] {nemo}  Life's a bitch

[10:52] {nemo} then you marry one

[10:52] {nemo} then you want to die

[10:52] {Will49} lol

[10:52] {Will49} OMG... what have I started

[10:52] {nemo} don't get arrogant

[10:52] {thomcbell} might get some interesting afternoon setups 

[10:52] {nemo} this started years ago

[10:52] {Will49} pay attention you guys...you're taders, not comedins

[10:53] {Will49} comedians

[10:53] {Will49} I think

[10:53] {nemo} mmmhhh, tfm volume, drops .00 I'm short

[10:53] {nemo} Well I am short

[10:53] {thomcbell} might get some interesting setups long - later on today 

[10:54] {nemo} might get some interesting setups short - later on today

[10:54] {RonS} tfm looks short to me...cannot borrow

[10:54] {nemo} easy to borrow for me, a tad expensive though

[10:55] {cipher} cat l .70

[10:55] {nemo} ok iwm long setup

[10:56] {cipher} out 1/2 .80

[10:56] {nemo} tfm should be good to vwap breaks this resistance

[10:56] {cipher} tna l .40

[10:58] {cipher} out cat in full .85 +.15

[10:58] {thomcbell} watching for long setup on slw 

[10:58] {thomcbell} nem actually green 

[10:58] {Threei} Long Setup:  LVS  .80 break

[10:58] {Threei}  If holds  .70 

[10:59] {thomcbell} coh still acts well 

[10:59] {thomcbell} got the 15 min spy hammer 

[10:59] {thomcbell} Vad

[11:00] {Threei}  yes

[11:00] {cipher} out 1/2 tfm .30 +.30

[11:00] {thomcbell} not on dia iwm and qqq

[11:03] {cipher} out tna .58 +.18

[11:03] {nemo} look for .80 on tna cipher

[11:03] {nemo} arrggg

[11:03] {cipher} sorry

[11:03] {cipher} :)

[11:03] {nemo} profit is profit

[11:05] {cipher} out rest tfm .47 .47

[11:06] {cipher} gotta run.. dentist app

[11:06] {cipher} cya tom

[11:06] {nemo} cya ciph

[11:06] {nemo} ciphalis?

[11:06] {Will49} have a gold tooth put in cipher

[11:06] {nemo} platinum

[11:07] {Threei}  take care cipher

[11:09] {thomcbell} cipher what is s-3 on qcom please?

[11:10] {nemo} 61.08

[11:11] {nemo} hey thom, you ever use free stock charts.com

[11:11] {RonS} thom:  http://www.nationalfutures.com/pivotcalculator.htm

[11:12] {nemo} http://www.livecharts.co.uk/pivot_points/pivot_points.php

[11:12] {nemo} that's better one

[11:14] {nemo} on freestock charts it's an idicator automatically charted for each stock if you use it

[11:14] {thomcbell} is that real time?

[11:15] {nemo} relatively, only gets data from bats exchange, the pivot levels are correct...I use it in conjunction with the trading platform.  quite helpful

[11:16] {thomcbell} ok cool 

[11:16] {Threei}  1:1

[11:18] {thomcbell} what do u have on Vad?

[11:18] {Threei}  10:58] {Threei} Long Setup: LVS .80 break

[11:18] {Threei}  [10:58] {Threei} If holds .70

[11:18] {thomcbell} long setup bhp 65.19 break if holding 65.11

[11:18] {Threei}  merely 20 min for 1:1, that's my speed champion today

[11:19] {thomcbell} ok thanks

[11:19] {thomcbell} bhp invalidated

[11:20] {Threei}  1:2 close enough, out

[11:21] {nemo} low volume, look cab daily

[11:23] {nemo} Even in civilized mankind faint traces of monogamous instincts can be perceived. ~Bertrand Russell

[11:23] {thomcbell} howling

[11:24] {nemo} hehehehehe

[11:24] {Will49} lol

[11:30] {thomcbell} im gone guys - talk later 

[11:30] {Will49} be good...and if you can't be good, be......

[11:31] {Will49} fill in blank

[11:31] {Threei}  take care tbell

[11:34] {Threei}  timely exit LVS

[11:46] {dolores} LVS bouncing from .80

[11:46] {dolores} two or three times

[11:46] {Threei}  yes but I don't see much potential here

[11:47] {Threei}  struggle for 5 cents

[11:47] {dolores} ok

[11:48] {nemo} it's lunchtime on the 2nd slowest day of the year and spy basically at vwap

[11:48] {nemo} back to the belly-button lint

[11:48] {Threei}  argh

[11:49] {nemo} what?

[11:49] {Threei}  JCO news, and I was thinking of .95 break long

[11:49] {Threei}  JCP

[11:49] {Threei}  blinked, and darn thing has gone

[11:49] {Threei}  -JC Penney Company Inc (Holding Co) Judge denies Macy's prelim injunction against the company related to Martha Stewart dispute - financial press

[11:50] {Threei}  grrrrrrrrrrrrrr

[11:50] {Threei}  crap, that was the best trade of the day

[11:50] {ese} my hats off to those of you who can find stuff the way this markets drifts.........just when i think i've found something.....the mo mo stops....very few and far between......and then when i find something...i'm late

[11:51] {nemo} http://www.newsday.com/news/police-100-year-old-driver-hits-11-near-la-school-1.3937043

[11:52] {dolores} 100 year old people should not have a drving license

[11:53] {Threei}  nor 90

[11:53] {Threei}  yet a lot of them do

[11:53] {ese} indeed........but how are they going hit people if there not driving 

[11:54] {Threei}  true

[11:54] {Threei}  - may I pet your lovely dog?

[11:54] {Threei}  - of course, otherwise how would it bite you

[11:55] {ese} lol

[11:55] {ese} thats a good one

[11:56] {Threei}  wow... some russian jokes do work

[11:56] {Threei}  hear that Ron??

[11:56] {ese} ouuuuu ouch

[11:56] {Threei}  I can't watch JCP

[11:56] {Threei}  this is a miss of the day

[11:56] {dolores} I cant watch BPT

[11:56] {ese} ya thats been ticking me off today to.......

[11:57] {dolores} almost triggered 75.50

[11:57] {dolores} and chickened

[11:57] {ese} jcp that is

[11:57] {Threei}  I wouldn't have given a second thought to BPT, honestly

[11:57] {Threei}  risk can not be managed on it properly, end of story

[11:57] {Threei}  this stock doesn't exist for me

[11:58] {dolores} ok

[11:58] {Threei}  JCP had frikin 5 cents risk, for about 30 cents easy reward

[11:59] {nemo} fosl dino kinda' short

[12:07] {jackharry} fslr a complete bloodbath today

[12:09] {Threei}  and looks far from over

[12:11] {Threei}  lol, in case you thought GRPN had enough problems:

[12:11] {Threei}  GRPN Patent lawsuit reportedly filed against LivingSocial and Groupon related to online discounts - financial press

[12:12] {Threei}  ummmm

[12:12] {Threei}  do you want to know exact % of people living in lala land?

[12:12] {Threei}  there, I've got it for you:

[12:12] {Threei}  41% Say U.S. Should Resume Manned Missions to Moon

06[12:13] * Threei slaps nemo around a bit with a large Mars rover

[12:14] {Threei} Long Setup:  JCP  .95 break

[12:14] {nemo} watch joy here good for another buck south if it executes, maybe 2

[12:14] {Threei}  If holds  .90 

[12:14] {Threei}  not going to repeat a run but should be scalpable

[12:16] {dolores} HEAVY ELECTRI

[12:16] {dolores} electric storm

[12:16] {nemo} ?

[12:16] {nemo} oh

[12:16] {dolores} will wait a while

[12:17] {dolores} as internet might go down

[12:20] {nemo} coh, which way you going

[12:21] {nemo} think it testss the upper end

[12:21] {nemo} short joy

[12:21] {dolores} pouring summr storm

[12:22] {dolores} so maybe ends fast

[12:22] {nemo} bidding .74

[12:23] {nemo} stop is .90.ish

[12:23] {nemo} oh shit nyse on bid and offer

[12:23] {nemo} hate that

[12:23] {nemo} cmon throw a brick through .74

[12:24] {nemo} so now it stops trading

[12:25] {nemo} there we go

[12:25] {nemo} stop still to .90

[12:28] {nemo} I think I'll be stopped, but if this stops at 52 could be a re short

[12:34] {dolores} I think is safe now

[12:34] {nemo} watch COH

[12:34] {dolores} JCP entry still on?

[12:39] {nemo} shoulda shorted joy again

[12:40] {Threei}  yes

[12:44] {nemo} coh being sneaky here

[12:46] {nemo} this down up makes me think it's gonna make a move

[12:56] {nemo} joy  looking possible long here

[12:57] {dolores} stopped

[12:59] {dolores} VAD thes stop was .89?

[12:59] {nemo} y

[12:59] {nemo} nevermind

[13:01] {Threei}  yes

[13:02] {nemo} coh

[13:02] {Threei} Long Setup:  TNA  .80 break

[13:03] {Threei}  If holds  .80 

[13:07] {Threei}  TNA looks ready to me

[13:07] {Threei}  if SPY breaks .60, this one should work nicely

[13:08] {Beau} trigger and stp both .80.  that will be fun

[13:08] {Threei}  lopl

[13:08] {Threei}  .70 of course

[13:08] {dolores} no go

[13:08] {Threei}  invalidated

[13:08] {Threei}  no go = stop

[13:09] {Threei}  it never triggered, thus invalidated

[13:09] {Beau} too bad  wanted to see how you played the 80/80

[13:09] {robbers} Three, question for you:  When you call for a "break," does it have to clear both the bid and ask to be considered a break?

[13:09] {Threei}  it should take out ask and start printing above it

[13:10] {Threei}  i.e, .80 ask disappearing and .81 prnting is a break

[13:10] {robbers} Perfect, clears it up for me.  Thanks.

[13:10] {Threei}  sure, and make sure to read this link:

[13:10] {Threei}  http://www.realitytrader.com/tradingroom/#instructions

[13:11] {robbers} Going there right now...

[13:14] {robbers} Funny, never saw that because I stopped on that page to log into the trading room, never looked below that, LOL.  My mistake.

[13:16] {robbers} Also didn't realize "no go" = "stop".  That's helpful, too. 

[13:17] {robbers} Hey, I'm a slow learner, but at least a learner.

[13:17] {Threei}  :)

[13:18] {robbers} And I've learned never to pet a Russian dog.    So very good day overall.

[13:18] {Threei}  variation: "no worky"

[13:18] {Threei}  lol

[13:18] {Threei}  just wait till ese educates you about drinking russian vodka from glass model of AK-47...

[13:18] {Threei}  you can't put value on that

[13:18] {Will49} lol

[13:19] {dino} back. did i miss much?

[13:19] {Threei}  not really

[13:19] {Will49} it is quite a sight...the AK47 bottle

[13:19] {dino} good. thinking of taking tomorrow off

[13:19] {Threei}  with grenade filled with pepper vodka

[13:19] {Will49} :)

[13:20] {Threei}  I need to make photos of those...

[13:20] {Will49} Vad puts a secret russian potion in the vodka that makes you want to remain in his room for years and years

[13:23] {Threei}  no, that is in the seasoning for shishkebab

[13:23] {Will49} :D

[13:23] {robbers} Sounds like drinking from that bottle is same result from petting the dog.

[13:25] {Threei}  I dunno... people have been coming for more, each summer :)

[13:25] {Will49} proof is in he pudding 

[13:25] {Will49} the

[13:26] {Threei}  dptl's companion said he started experiencing tremors similar to a drug withdrawal symptoms in the middle of ferry ride to the gathering

[13:26] {Will49} an old Russian saying

[13:26] {Will49} pudding

[13:27] {Threei}  (EU) EU's Barnier: ECB Should oversee EMU banks

[13:27] {Threei}  you reminded me old soviet joke will... (hear Ron groaning)

[13:28] {Threei}  guy in dirty duct-taped on various places overalls, in the store, asking a girl behind the counter:

[13:29] {Threei}  his voice drifting in drwamy tones as he speaks,

[13:29] {Threei}  what is it on the shelf, looking so elegant, airy, almost ephemeral, white, soft...?

[13:30] {Threei}  she: Yougurt

[13:30] {Threei}  He, in a dreamy voice... Yooooguuurt... returning to usual gruff voice: OK, two bottles of vodka please

[13:31] {Threei}  no?

[13:31] {Will49} lol

[13:31] {Threei}  or, should I say... no worky?

[13:31] {Will49} i guess

[13:32] {Threei}  Bankia Spain govt may recapitalize Bankia without using any EU funds - financial press***Reminder: Bankia has requested �19B in state aid.

[13:32] {Threei}  yes, but thnen it remain woth no dime in the pocket and have to ask EU money for itself

[13:33] {robbers} BTW, Three, nice trades this morning, thanks for those.

[13:33] {Threei}  very welcome

[13:33] {Will49} and that's no joke

[13:34] {Threei}  thankfully August is almost over, and it will become gradually easier to find them

[13:35] {dolores} nothing about banki on spanish news

[13:35] {dolores} banki

[13:36] {dolores} a

[13:42] {dolores} CAT no trade   today?

[13:43] {Threei}  if any, it's a short

[13:44] {Threei}  .55 trigger

[13:44] {Threei}  if holds .65

[13:54] {dino} shld sm l .01

[13:56] {Threei}  (US) White House: Tapping the Strategic Petroleum Reserve (SPR) is still an option, but no announcement to be made today***Reminder: Yesterday the White House said that all options were on the table regarding release of crude from the SPR

[14:00] {dino} nothing like trying to buy votes

[14:02] {Threei}  yeah

[14:07] {Threei}  (EU) ECB's Asmussen: Markets are pricing in a breakup of the euro zone; Inflation expectations are firmly anchored- Fragmentation in euro financial markets is a concern; Impacts ECB policy. - Monetary policy is not reaching the real economy. - Risk premia reflect FX risk

[14:08] {Threei}  I really don't know where he sees markets pricing in breakup

[14:08] {Threei}  if they price anything in, it's a salvation through inflation

[14:09] {Threei}  and if that is not coming, the drop we are going to see, oy

[14:09] {Threei}  I presonally am salivating at the mere thought

[14:10] {Threei}  frikin JCP

[14:36] {dptl} anf .85 short? but so slow 

[14:36] {Threei}  50/50...

[14:37] {dolores} anyone knows why IRWD drug approval and moving down?

[14:39] {Threei}  one of those mysteries

[14:39] {dino} because its not going up

[14:39] {dptl} how about expe .60 short?

[14:40] {dino} lstr

[14:40] {Threei}  better

[14:40] {dino} drop

[14:40] {Threei}  I'd try it

[14:40] {dptl} with .70 stop

[14:43] {dino} irwd sm l .65

[14:45] {dino} sm l lstr .40

[14:45] {nemo} there is so little traffic, my computer, w/six monitors running is running at 29c.  It only does that in the winter, with one monitor...unbelievable

[14:46] {dino} lol

[14:57] {RonS} irwd in at .65  whatcha thinkin target dino?

[14:59] {dino} around 12.14

[15:05] {dino} lstr stop -.30

[15:06] {RonS} getting late...out irwd .95 thandks dino +.30

[15:06] {Will49} good one

[15:07] {nemo} down to 28c

[15:07] {ese} zzzzzzzzzzzzzzzzzzzzzzzzzzzzzz

[15:07] {dino} gj ron

[15:11] {nemo} so...it's down to sitting here watching bunny eat timothy hay

[15:11] {dino} out irwd .20, +.55

[15:12] {Threei}  wtg

[15:12] {RonS} wtg

[15:12] {dino} ty

[15:12] {nemo} bloody amazing

[15:12] {dino} thx for idea dolores

[15:12] {nemo} mmmhhh finanicals been leading the way

[15:15] {dolores} welcome dino

[15:15] {dolores} I did not know what was going on as it was down so did not buy

[15:15] {dino} thats exactly what i look for

[15:16] {Threei}  dolores, you gravitate to these higher volastility stocks,

[15:16] {Threei}  watch how dino, ron and cipher play them

[15:16] {Threei}  you will get the rythm they are looking for

[15:17] {dolores} ok thxs

[15:17] {RonS} check the backstory here so i miss some

[15:18] {RonS} irwd got a drug apporval and sold off on "sell the news" but good bounce candidate fundamentally

[15:18] {nemo} since when does something trade fundamentally?

[15:18] {nemo} Vad...smack Ron

[15:20] {dino} probability of a bounce on a sell off on good news are strong, imo. happens a lot

[15:20] {dolores} dino why did you buy LSTR?

[15:21] {dino} no news pretty quick drop

[15:22] {dolores} Q3 not as expected

[15:22] {dolores} revenue not good

[15:23] {dino} thx, i missed that

[15:23] {dino} adding shld sept calls

[15:24] {Threei}  Clint Eastwood is a surprize guest of RNC convention

[15:24] {nemo} now down to 27c

[15:25] {nemo} I must be really bored

[15:25] {dolores} http://seekingalpha.com/article/838801-landstar-system-inc-q3-2012-guidance-update-call-aug-30-2012

[15:25] {dolores} on LSTR update call today

[15:25] {ese} thats Dino's M O delores.........when were selling he's buying......and when he's sellin were buying..........

[15:26] {ese} money is going straight from our bank accts into his

[15:26] {RonS} lol

[15:26] {RonS} true dat...

[15:26] {nemo} bidu bears watching dion, probably not today though, ahving said that

[15:26] {Threei}  http://goo.gl/RQKN5

[15:26] {Threei}  rofl

[15:27] {ese} i can't access facebook

[15:28] {RonS} me either...not going there...

[15:28] {nemo} doesn't open for me either

[15:28] {ese} me either

[15:28] {Threei}  hold on, I'll repost on mine, you shoul;d be able to see that

[15:28] {ese} nope tried it......didn't work

[15:29] {ese} oh ya for sure on your site

[15:29] {Threei}  hmmm

[15:31] {Threei}  http://tradinglog.realitytrader.com/2012/08/aug-30-2012.html

[15:32] {nemo} looks like FAS wants the pivot, and I figure we get to the weekly on IWM

[15:32] {Beau} were you in the chair at the time?

[15:33] {Will49} My 50" TV rocked back and forth a couple of inches when the quake hit

[15:34] {Will49} Going to put a leash on it this afternoon

[15:34] {Will49} My earthquake insurance isn't going to cover anything in a 3.0 event

[15:35] {ese} ok that is funny

[15:35] {Will49} just think...I wouldn't be able to watch Clint Eastwood tonight

[15:36] {Threei}  ouch

[15:36] {Threei}  you might have to settle on korean version... the good, the bad and the weird {G}

[15:36] {Will49} get off my lawn

[15:36] {ese} Hold on there????  Did we have a quake here?

[15:37] {Threei}  lol

[15:37] {Will49} you were probably bangin on your drums and missed it

[15:37] {RonS} hard to tell when drunk eh?

[15:37] {ese} when what time?

[15:37] {ese} ya

[15:37] {Will49} 3:20

[15:37] {Threei}  yesterday, around 3:30, right under Langford

[15:37] {ese} no shi?

[15:38] {dino} out shld ave .30, +.29

[15:38] {Will49} just across the bay from me

[15:38] {dino} back in ten

[15:38] {nemo} why?

[15:38] {ese} how bout that.........i was practising at that time...........didn't feel a damn thing

[15:39] {dino} bus stop

[15:39] {Will49} was just one shake, only a second long

[15:39] {nemo} why come back?

[15:39] {Will49} more like a bump than a shake

[15:41] {ese} If there is one thing i hate about living here.............it's that..............give me a tornado anyday...........at least i have the chance to make a flippin decision..........right or wrong........non of this instantaneous crap 

[15:41] {nemo} fas at day highs will form a hammer spy regaining trend will likely form a hammer also, only iwm looks like it will close lower

[15:41] {Will49} and we're in the back half of the window for "the big one"

[15:41] {ese} spyders are indicating they want up tomorrow

[15:42] {ese} ya

[15:42] {Will49} northern part of San Andreas fault lets go big time on average every 500 years

[15:43] {Will49} I think the last one was about 300 yrs ago

[15:43] {nemo} weren't u there?

[15:43] {RonS} an old indaian tell you that?

[15:43] {RonS} indian

[15:44] {ese} phewwwwwwwww

[15:44] {Will49} Islanders should be OK as everything is built into bedrock

[15:44] {ese} we got then

[15:44] {ese} time

[15:44] {RonS} ese time...198.764231 years

[15:44] {nemo} nah, Tsunami

[15:45] {Will49} Yeah, Indians on the coast have lots of verbal history handed down plus geologist confirmtell

[15:45] {nemo} you'll get the Atlantis treatment

[15:45] {dolores} sell off again

[15:45] {RonS} Tsu nami...my Philipino girlfriend

[15:46] {Will49} computer projections say it will be like a windy day at high tide around Victoria

[15:46] {RonS} lol

[15:46] {Will49} So no problem (famous last words)

[15:46] {nemo} "Here, hold my beer while I try something..."

[15:47] {Will49} I live 65 feet above high tidemark so my beer is safe

[15:47] {Will49} Now vad on the other hand......

[15:48] {Threei}  ese... winnipeg has no earthquake danger... and very little chance of tornado

[15:48] {nemo} from a 100 foot tsunami it isn't

[15:49] {Will49} West side of our island is going to get nailed big time

[15:50] {dolores} ok guys see you tomorrow

[15:50] {dolores} thxs

[15:50] {dolores} take care

[15:51] {ese} other than frezzing to death.........perfect

[15:51] {Will49} ese..have they done eathquake upgrades on your school?

[15:51] {dino} good point nemo, why do i come back

[15:51] {ese} not yet

[15:52] {ese} cya D

[15:53] {ese} me too..........cya tomorrow

[15:53] {Threei}  I dopn't know wabout that "up" tomorrow, nemo

[15:53] {Threei}  selling pretty good

[15:53] {Threei}  ok guysm thank you all

[15:53] {Will49} cheers

[15:53] {Threei}  have a good evening, see you tomorrow

[15:56] {dino} thx all gn

August 29 2012

Trading day for me consisted of the whole 28 minutes - then power went out for the whole neighborhood as some frikin bird flew into some frikin wire, or at least that the explanation BC Hydro gave to 7 am - 4 pm outage. Below is what I managed to do before the frikin bird... etc.

Session Time: Wed Aug 29 00:00:00 2012

[08:39] {nemo} looks like onward and upwards...

[09:02] {jackharry} good morning

[09:03] {Threei}  jack :)

[09:17] {Beau} good morning you all

[09:18] {Threei}  beau :)

[09:20] {ese} gm

[09:20] {Threei}  ese :)

[09:20] {RonS} hi guys

[09:21] {ese} vad.....does intelliscan work on a mac?

[09:21] {ese} ron

[09:21] {Threei}  ron :)

[09:21] {Threei}  straightforward, no... under one of those windows-omotating environment, no idea

[09:21] {Will49} GM

[09:22] {ese} will

[09:22] {Threei}  will :)

[09:22] {Will49} Hi ese...glad you could make it :)

[09:23] {dino} gm

[09:23] {Threei}  dino :)

[09:23] {scottie} gm

[09:24] {ese} tks.........it's the week before school starts and i've got prep work like crazy to do..........2 math programs that I haven't taught before and so am trying to bring myself up to speed....gr11 precalculus and a gr 10 fundamentals

[09:24] {Threei}  scottie :)

[09:25] {ese} with that kind of calculus i can build a gazebo like vad has in his back yark will

[09:25] {ese} yard

[09:25] {Will49} I remember calculus with terror

[09:27] {ese} i barely remember it...........this will be some real basics......thank goodness

[09:30] {thomcbell} ssys - hehe

[09:31] {dptl} gm

[09:31] {Threei} Long Setup:  FCX  .60 break hl

[09:31] {Threei}  If holds  .50 

[09:31] {Threei}  dp :)

[09:32] {nemo} josb dino cipher

[09:33] {Threei}  target 1:2

[09:35] {Threei}  ugh

[09:35] {Threei}  1 cent shy of 1:1

[09:35] {dolores} hello GM

[09:35] {nemo} oh oh, have to behave, Dolores is back

[09:36] {Threei}  morning dolores, welcome back

[09:36] {nemo} MCP

[09:36] {nemo} yelp

[09:37] {Threei} Short Setup: LVS  .80 break

[09:37] {Threei}  If holds  .90 

[09:37] {nemo} mcp .35

[09:37] {nemo} stop .25ish

[09:37] {nemo} oh oh

[09:37] {nemo} .36

[09:38] {nemo} mmmhhhh, this is not going to be for the weak of heart

[09:38] {Threei}  LVS two-sided

[09:38] {nemo} iwm breaking out today

[09:39] {nemo} tighten stop mcp to .30

[09:39] {nemo} arguably should go short

[09:40] {nemo} lotta red

[09:41] {Threei}  LVS 1:1 but I really doubt you could get it unless agressively

[09:43] {RonS} bpt to 0?

[09:43] {Threei}  chart sure looks this way, lol

[09:45] {cipher} BPT L .68

[09:45] {nemo} wow, quite the spread

[09:46] {Threei} Short Setup: JWN  .35 break hl

[09:46] {Threei}  If holds  .45 

[09:46] {cipher} OUT 1/2 .88

[09:48] {cipher} out rest bpt 84.25 +1.57

[09:48] {cipher} thx Ron!

06[09:48] * Threei mails cipher a box with fresh diapers

[09:48] {nemo} cipher diaper'

[09:50] {Threei} Short Setup: GM  .60 break

[09:50] {Threei}  If holds  .65 

[09:51] {Threei}  cover half here

[09:52] {dino} nice cipher

[09:53] {nemo}  yeah, hate him

[09:54] {nemo} fslr big support

[09:54] {nemo} s .18

[09:54] {nemo} stop above .25

[09:54] {Threei}  JWN, change to .40 break

[09:54] {nemo} saw huge transaction go by at .19 and then it dropped

[09:55] {nemo} if it drops .10, hit the double diamonds

[09:55] {Threei}  out GM in full

[09:55] {nemo} half .00

[09:56] {Threei}  stop .46

[09:56] {nemo} bid next .86

[09:56] {cipher} FSLR l.92

[09:57] {Threei}  too soon, GM... 1:3

[09:57] {nemo} bastid

[09:57] {nemo} yahoo

[09:57] {nemo} next stop .50ish

[09:58] {nemo} stop is .00

[09:58] {nemo} could be spy bounce here

[09:58] {nemo}  iwm pivot .20

[09:58] {Threei} Short Setup: LVS  .45 break