Thursday, February 28, 2013

Feb 28 2013

Boring and slightly above the water day. A few plays with nice potential turned into merely scalps not reaching 1:2 by just a cent or two. Volume disappears, this may easily turn into the end of the bounce.

Session Time: Thu Feb 28 00:00:00 2013
[08:55] {jdetente} good morning
01[08:55] {Threei}  jd :)
[09:08] {cipher} gm
01[09:09] {Threei}  cipher :)
[09:13] {scottie} good morning
01[09:13] {Threei}  scottie :)
[09:13] {nemo} bad data no drop
01[09:15] {Threei}  jobless claims not bad
[09:17] {Will49} gm
01[09:18] {Threei}  will :)
[09:18] {dino} gm
01[09:18] {Threei}  dino :)
[09:22] {thomcbell} jcp - quarterly report was a catastrophe
[09:23] {dptl} gm
[09:23] {thomcbell} might be a fun one to play with 1/4 lots today 
01[09:23] {Threei}  dp :)
[09:23] {dino} bsft somebody leaked it yesterday
[09:23] {thomcbell} all those bodies dumped in Secaucus are trying to dig out 
01[09:23] {Threei}  lol
01[09:24] {Threei}  just thought, after all the strentgh of the last days...
[09:31] {nemo} sheesh, look at the spread on FAS
01[09:32] {Threei} Short Setup: GDX  38 break
01[09:33] {Threei}  If holds  .10 
[09:34] {thomcbell} jcp looks like floor could come out
[09:34] {thomcbell} not playing 
01[09:34] {Threei}  stop to .06
01[09:36] {Threei}  1:1
[09:36] {dino} gj
[09:37] {ese} good morning
[09:37] {thomcbell} there it goes jcp 
[09:38] {dino} cri sm l .95
[09:38] {cipher} MDVN L .09
01[09:38] {Threei}  ese :)
01[09:39] {Threei}  wow JCP
[09:39] {ese} mornin vad .....i'll say jcp
[09:40] {ese} JCP: Update: Morgan Stanley making cautious comments; Reiterates Underweight rating, price target $13 
01[09:41] {Threei}  after that report, even 13 looks too generous
[09:41] {patel} gm
[09:41] {cipher} SHD L .86
[09:42] {ese} 4Q EPS loss and -32% - Source
[09:42] {cipher} VRTX L ..18
01[09:42] {Threei}  patel :)
[09:43] {cipher} out vrtx .29 +.11
01[09:44] {Threei}  GDX 1:2
01[09:44] {Threei}  out in full
[09:44] {Will49} tks Vad out
01[09:44] {Threei}  yw
01[09:45] {Threei}  *(US) FEB CHICAGO PURCHASING MANAGER INDEX : 56.8 V 54.0E
[09:45] {scottie} couldn't short, great call Vad
01[09:46] {Threei}  ty
[09:46] {thomcbell} short setup slw 32.14 break if holding 32.25
[09:47] {cipher} SFLY L .05
[09:48] {thomcbell} wow whats gotten into lvs
[09:49] {cipher} ctrx l .15
[09:49] {dino} aciw sm l .76
[09:49] {dino} gappy
[09:49] {dino} thinny
01[09:49] {Threei} Short Setup: LVS  .15 break hl
01[09:49] {Threei}  If holds  .25 
[09:52] {dino} rgr drop
01[09:52] {Threei}  no go
01[09:55] {Threei}  rinse
01[09:55] {Threei}  bastard
[09:56] {nemo}
[09:56] {nemo} wow...I would have thought it would be higher
[09:57] {thomcbell} slw stop 
[10:01] {ese} bored people.........who does surveys like that.......
[10:02] {dino} vips drop
01[10:07] {Threei} Short Setup: FCX  .85 break
01[10:07] {Threei}  If holds  .95 
[10:08] {nemo} .95 is vwap, see if you can short it from there
01[10:14] {Threei}  let's rcalibrate it
01[10:14] {Threei}  .90 break
[10:14] {nemo} .98 is S1
[10:15] {nemo} you have resistance at the whole
[10:15] {dino} fighting the trend imo
[10:15] {thomcbell} wow lvs
[10:16] {nemo} volume spike, that could be it on lvs
01[10:16] {Threei}  aggressive entry, tighter stop, going for larger move
[10:16] {thomcbell} almost trading like the reit stuff is out there again
01[10:16] {Threei}  let's try to cover half near .80 and play for breakdown on the rest
[10:17] {scottie} stop .96 ?
[10:17] {nemo} well, that's the last of the JD...sheesh
01[10:17] {Threei}  yup
[10:22] {dino} jah spike
[10:27] {jdetente} nemo have you tried the bushmills irish honey?
[10:28] {thomcbell} shortsetup bbry 13.60 break if holding 13.67
[10:28] {nemo} I'll add it to the list if I can find
[10:28] {jdetente} it's pretty good much stronger than the JD Honey not so sweet
[10:30] {thomcbell} bbry 1:1
01[10:31] {Threei}  IMF's Murray: US spending cuts will hurt the economic outlook
01[10:31] {Threei}  imbecile
01[10:32] {Threei}  try thst Murray: absence of spending cuts will bankrupt US. Will that hurt economic outlook?
01[10:32] {Threei}  ok FCX
01[10:32] {Threei}  time to die
01[10:33] {Threei}  1/2 out
[10:33] {scottie} half out tks Vad
01[10:33] {Threei}  stop to .91
01[10:35] {Threei}  guys, speaking of macroeconomics, an article I suggest you read when got 5 min:
01[10:35] {Threei}
[10:36] {thomcbell} bbry stop to 13.56
01[10:36] {Threei}  I don't agree with everything in it, but most things he gets exactly right, IMO
[10:37] {thomcbell} stopped on 2nd half bbry
[10:39] {dino} cri stop -.23
[10:40] {scottie} stop .86 ?
01[10:41] {Threei}  yes, now after .75 loss
[10:42] {nemo} I'm finding when you have a weak stock like FCX, short it as near to vwap as possible, if it's below, they're a pretty consistent play
[10:43] {scottie} out
[10:44] {jdetente} out thx Vad
01[10:44] {Threei}  yw... counted on more but...
[10:44] {Will49} tks Vad
01[10:50] {Threei} Short Setup: FB  .60 break
01[10:51] {Threei}  If holds  .70 
[10:51] {dino} cri sm l .61
01[10:51] {Threei}  target 1:3
[10:54] {nemo} oh, bunny attacked my father again
[10:55] {dino} he's going to shoot that rabbit some day
[10:55] {nemo} yeah, she's decided his room is her hutch and has become protective of it, so had to  gate the door...she knocked the gate down
[10:55] {nemo} they use their heads like a battering's impressive
[10:56] {nemo} I can't get that scene from Monty Python out of my head
[10:56] {nemo} matter of fact, I have the movie on my hard drive
[10:57] {jdetente}
[10:57] {thomcbell} jcp may squeeze thru 17.14
[11:03] {dino} pkt sm l .97
[11:11] {dino} gut says rally time
[11:12] {nemo} sure looks like it
01[11:13] {Threei} Long Setup:  IBM  .40 break sm sh
01[11:13] {Threei}  If holds  .25 
01[11:15] {Threei}  FB takes its sweet time
[11:15] {nemo} need market higher to give fund inflows the high print for the 1st
01[11:15] {Threei}  but we are with house money here, so it's fine
[11:15] {nemo} all that money comes in on a high print....and then SLAM!!!!!
01[11:15] {Threei}  that was mighty nice breakdown it gave us
[11:16] {dino} like little rabbit foo foo, huh nemo
[11:17] {nemo} ?
[11:17] {dino} "bang 'em on the head" old nursery rhyme
[11:17] {nemo} oh yeah, forgot about that
01[11:18] {Threei}  IBM target .70 or so
01[11:18] {Threei}  and FB target is still 1:3
[11:18] {nemo} I've created a monster...she hops up on the bed every night now looking for treats under my pillow
01[11:18] {Threei}  gosh, the number of dirty jokes nemo begs for...
[11:18] {Will49} I dated a girl like that once
01[11:18] {Threei}  there
01[11:18] {Threei}  it starts
[11:18] {dino} lol
[11:18] {jdetente} lol Will
[11:19] {nemo} just takes a little prodding
[11:20] {jdetente} hmmm...not going to comment on that one
01[11:20] {Threei}  really?
01[11:21] {Threei}  there are limits to our willingness to dig into darl depths of nemo's mind?
[11:21] {nemo} wuss
[11:21] {Will49} mind?
[11:21] {nemo} most recent picture of bunny coming
01[11:21] {Threei}  right... I back down from that
[11:21] {dino} cptr
01[11:21] {Threei}  1:1 IBM
[11:21] {dino} cprt
01[11:22] {Threei}  I think I misplayed FB a little
01[11:23] {Threei}  it came to 1:2 so close and with such sharp red bar that we should have covered 1/4 more there
[11:23] {dino} sm s .08
[11:23] {dino} cov cprt .58, +.50
01[11:24] {Threei}  out on a trail
[11:24] {Will49} tks Vad...still good
01[11:25] {Threei}  yes but I should have managed it a little better
01[11:25] {Threei}  such capitulation-like drops are very likely to produce a snapback
[11:25] {thomcbell} short setup jcp 17.30 break if holding 17.45
[11:25] {scottie} NEM l .70 ?
01[11:26] {Threei}  and covering next part arouind .43 - .44 was called for, shouldn't have been too rigid
[11:26] {scottie} late
[11:26] {dino} saia spike
01[11:26] {Threei}  hard to tell NEM... too narrow for my taste
[11:27] {scottie} break of .70 with volume, thought it was a good setup
01[11:28] {Threei}  just whole daily range being 30 cents
[11:28] {jdetente} there's 1:2 IBM
[11:28] {Will49} out IBM 1:2 tks
01[11:28] {Threei}  :)
[11:28] {scottie} I see
[11:28] {dino} gj
[11:33] {dino} cprt spike again
01[11:34] {Threei}  why does SPRT symbol sounds to me like the sound of enema?
[11:34] {dino} r3 reject
[11:35] {jdetente} IBM nicely done. Thx Vad
01[11:35] {Threei}  yw
[11:37] {Will49} how about that couple that is addicted to coffee enemas?
[11:37] {Will49} Yikes
[11:37] {jdetente} wth??
[11:39] {dino} pkt stop -.10
[11:39] {Will49}
01[11:40] {Threei}  meet nemo rabbit:
[11:40] {thomcbell} jcp was invalidated obviously 
[11:41] {dino} pkt rinsed
01[11:42] {Threei}  anyone read that article? agree, disagree?
[11:42] {dino} casey, agree
[11:43] {dino} saying what i was saying, all countries racing to the bottom on currencies
01[11:43] {Threei}  I also liked the analogy with guy jumping out of 100 floor
[11:44] {dino} yeah
[11:44] {dino} ok so far
01[11:44] {Threei}  pretty much what I hear from the left: all your fears haven't materialized yet, have they
01[11:45] {Threei}  not much different from similar discussions in USSR
01[11:46] {Threei}  but economic model is unsustainable! - oh, but it works so far, doesn't it?
01[11:47] {Threei}  it does... until it doesn't
01[11:49] {Threei}  frikin FB
01[11:52] {Threei}  let me reiterate
[11:56] {dino} out cri .01, +.40
[12:00] {dino} out aciw .40, +.64. tok hours
[12:00] {dino} took
[12:01] {dino} brb
[12:35] {dino} .
01[12:39] {Threei} Long Setup:  BBRY  .70 break
01[12:45] {Threei}  1 cent to 1:1...? stop to .69
[12:55] {dino} zzzzzzzzzzzzzzzzz
[12:58] {ese} am sleeping
[12:59] {dino} bby drop
[13:01] {dino} rrc spike
01[13:04] {Threei} Short Setup: FB  .37
01[13:04] {Threei}  If holds  .45 
01[13:20] {Threei}  wow
01[13:20] {Threei}  wtf
01[13:20] {Threei}  who said what where
[13:22] {jdetente} no dice
01[13:22] {Threei}  still no news
01[13:23] {Threei}  where did this spike come from, with such volume
[13:23] {jdetente} bizarro
[13:23] {Will49} Bernanke was just elected Pope
01[13:24] {Threei}  say quickly you are kidding, before ese went berserk
[13:24] {dino} cri sm l .37 ave
[13:24] {jdetente}
01[13:25] {Threei}  ,lol
[13:25] {Will49} hahaha
01[13:25] {Threei}  this is good one
[13:32] {dino} out cri .54, +.17
[13:32] {dino} lots of slips lately, that was at .61
[13:33] {dino} on the other hand, glad i'm out
01[13:33] {Threei}  good thinking :)
01[13:34] {Threei}  (US) S&P issues commentary on sequester impact on state and local Governments- The implementation of approximately $85 billion in cuts from the federal budget may have only minor negative credit consequences for state and local governments and their affiliated entities - Most municipalities have exhibited their willingness to impose cutbacks in response to a weaker revenue environment since the beginning of the recession, and we expect them to be prepared for the possibility of sequestration
01[13:35] {Threei}  whole thing is such a non-issue
[13:39] {scottie} gotta leave early, see you all tomorrow
[13:39] {Will49} bye scottie
01[13:39] {Threei}  take care scottie
01[13:40] {Threei}  lol:
[13:41] {jdetente} lol
[13:41] {Will49} :0
[13:42] {Will49} :)
[13:44] {dino} cbi going for gap
[13:46] {Will49} will going for nap
[13:47] {Will49} kidding...just trying to entertain myself
[13:48] {nemo} that's precious
01[13:49] {Threei}  wait for the market to get tired and start dropping... you will beg for daytime naps
[13:50] {Will49} that a facetious remark?
01[13:50] {Threei}  you hjave ever seen any other nemo?
01[13:50] {Threei}  from nemo
[13:51] {Will49} Nemo really loves me after all
01[13:51] {Threei}  or better outL you have ever seen anything nemo-related that wouldn't be facetious?
[13:51] {Will49} don't threaten my naivety
[13:51] {jdetente} what you don't realize Will is this is how nemo said it.
[13:51] {jdetente}
[13:52] {nemo} I was talking about vad's link
[13:52] {Will49} see, i'm so ego-centric
[13:52] {nemo} and what makes you think you're unique?
[13:53] {Will49} jd..don't think nemo will like choice of photo :)
[13:53] {jdetente} counting on it
[13:53] {Will49} just trying to be one of the boys
[13:53] {nemo} reminds me...whacked my leftist-professor buddy on the illogic of altruism.  Told me I was full of shit, but neglected to point out why
[13:54] {Will49} i'll have to look up altruism in dictionary
[13:55] {dino} suppose you hurt his feelings
[13:55] {nemo} I tend to emphasize non-pc speak too
[13:55] {dino} bravo
[13:55] {dino} whatever happened to free speech?
01[13:55] {Threei}  but nemo... you lack COMPASSSSIONNN....
[13:56] {nemo} I live by the dictum "True words are not fine sounding, Fine sounding words are not true."
[13:56] {nemo} Now that's not true Vad...
[13:56] {nemo} I'm in the soul transition assistance profession
01[13:56] {Threei}  comeon... I'll stop talking to you the day I find you compassionate in leftist professor sense of the word
[13:57] {nemo} well, I can talk it with no problem  ;-)
[13:57] {ese} am gone all cya tomorrow just waitin on HTZ position.........02 dn at this point.
[13:57] {Will49} peace ese
[13:58] {ese} cya will
[13:58] {ese} vad nemo
01[13:58] {Threei}  take care ese
[13:58] {nemo} guess that's my fault  ;-)
[13:58] {dino} cya
01[13:58] {Threei}  don't see you being particularly sad about it
[13:58] {nemo} wtf...spilt milk
[13:59] {dino} cedu?
01[14:01] {Threei}  no news since Jan 16, about shares repurtchase agreement
[14:03] {dino} thats all i saw
[14:09] {dino} lstr sm s .25
[14:13] {dino} cov -.25
[14:17] {dino} another rinse
[14:20] {dptl} hlf? whats with it?
[14:21] {dino} halt
01[14:21] {Threei}  news pending
[14:21] {dptl} that is just great...i am long .76
[14:22] {dino} gl
01[14:22] {Threei}  yikes
01[14:22] {Threei}  let's hope it's something good
[14:22] {dino} been there, always screwed
[14:22] {dino} usna
[14:23] {dino} nus
[14:23] {dino} bth
[14:23] {dino} all of them going up
[14:24] {dptl} just my luck......when do they expected?
[14:24] {dino} dk
01[14:24] {Threei}  Herbalife Ltd. Nominates two Icahn reps to Board
01[14:25] {Threei}  - reached an agreement with Carl C. Icahn, Icahn Enterprises Holdings L.P. and certain related entities (collectively the Icahn Parties), which beneficially own, in the aggregate 14,015,151 shares of Herbalife common stock, representing approximately 13.6% of the Companys outstanding shares. As part of the agreement, Herbalife will increase the size of its Board of Directors from nine to eleven members immediately before the 2013 Annual General Meeting of Shareholders - Icahn Parties have agreed to, among other things, abide by certain standstill provisions and vote their shares in support of all of the Boards director nominees. The Icahn Parties have the right to increase the size of their ownership position in Herbalife up to 25% of the outstanding common stock. A copy of the agreement with further detail will be attached to a Current Report on Form 8-K to be filed by Herbalife with the Securities and Exchange Commission
01[14:26] {Threei}  well, looks nice
[14:30] {dptl} well..ok its either kill me,or give me some...will see...nothing i can do now
01[14:31] {Threei}  there
[14:31] {jdetente} happiness 
01[14:31] {Threei}  congratulations
01[14:31] {Threei}  get the f**k out
[14:31] {dino} put a stop in
[14:31] {Will49}  just your luck eh dp?
[14:31] {jdetente} raise it
[14:32] {jdetente} again
[14:32] {jdetente} take at least 40
01[14:32] {Threei}  ummm... di he leave for a cigarette?
[14:32] {dino} fainted
06[14:33] * Threei slaps dptl around a bit with a 2x4
[14:33] {dptl} oh out at between .16 and .22
01[14:33] {Threei}  whew
[14:33] {jdetente} 40.16? gj!
[14:33] {dino} wtg
[14:33] {Will49} how's your luck now?
[14:34] {dptl} whew...
[14:34] {dptl} should buy lottery prob.:)
[14:34] {Will49} as they say...anything can happen
[14:35] {dino} "trading in the zone"
[14:36] {Will49} yeah
01[14:38] {Threei}  congratulations dp, this is rare occurrence
01[14:38] {Threei}  most halts are adverse to traders
01[14:39] {Threei}  get your shot of best bodka you can find in Vancouver
[14:39] {dptl} lol
[14:40] {dino} i've been screwed on many halts, glad it worked out for you dp
[14:40] {dptl} ty
[14:40] {Will49} looks good on ya
01[14:42] {Threei} Short Setup: SLW  .60 break
01[14:42] {Threei}  If holds  .66 
01[14:43] {Threei}  aggressive for .55, and .50 is last defense line on daily
01[14:43] {Threei}  target is about .30
[14:46] {dino} last try lstr sm s .53
[14:46] {dino} bstop is .71
[14:46] {dino} off my screen
01[14:47] {Threei}  OK SLW
01[14:47] {Threei}  let's put some fireworks
01[14:48] {Threei}  1:1
01[14:59] {Threei} Short Setup: BBRY  .35
01[15:00] {Threei}  If holds  .45 
[15:03] {dino} bdbd drop 
[15:04] {dino} sm l .60
[15:05] {nemo}
01[15:06] {Threei}  lol
[15:06] {jdetente} hahaha
01[15:06] {Threei}  nemo, got perfect life motto for ya
[15:06] {dptl} out bbry ty
01[15:06] {Threei}  "Karma takes too long. I'd ratner beat the crap out of you now"
01[15:06] {Threei}  1:1
[15:08] {dino} cbi sm l .60
01[15:08] {Threei}  EUR/USD Hits fression lows
[15:11] {dino} out bdbd .90, +.30
[15:19] {dino} cnc
[15:22] {dino} sm l .32
[15:24] {dptl} gn all ...see ya tomorrow
01[15:24] {Threei}  take care dp, take down that blood pressure
[15:25] {Will49} see ya dp
[15:25] {dptl} yeah..
[15:27] {dino} cya dp, gj
[15:27] {dino} out cbi .94, +.34
[15:37] {dino} cnc stop -.30, hate to see what would happen if they lost cal. contract
[15:37] {dino} cedu spikes again
[15:40] {dino} ypf drop
[15:43] {dino} ypf sm l .85
[15:47] {dino} ypf stop -.12
01[15:49] {Threei}  kuttle follow through today, many nice plays that turned just a scalp
01[15:49] {Threei}  kuttle?
01[15:49] {Threei}  little
[15:50] {jdetente} with many getting within a couple cents of 1:2
01[15:50] {Threei}  volume dried up again,
01[15:50] {Threei}  and daily looks like bounce exhausting itaself
01[15:50] {Threei}  hopefully bounce is done, and we resume downdraft
01[15:51] {Threei}  yes jd... if this continues, will make a correction for that
01[15:51] {Threei}  ok guys, thank you all
01[15:51] {Threei}  have a great evening
[15:51] {jdetente} gn
01[15:51] {Threei}  see you tomorrow
[15:51] {Will49} cheers