Friday, March 22, 2013

March 22 2013

When everyone buys for an expected event, and then event comes... Notice how it was discussed and planned two days ago:

Very fine day overall, ending the week on a nicely profitable note.

Session Time: Fri Mar 22 00:00:00 2013
[09:03] {dptl} gm
01[09:03] {Threei}  dp :)
[09:08] {thomcbell} hope all did well yest
01[09:08] {Threei}  we did
[09:08] {thomcbell} excellent
[09:16] {Les} afternoon
01[09:17] {Threei}  les :)
[09:17] {Les} back with my demons and all
[09:17] {Les} and lots of little post it notes stuck everywhere
01[09:17] {Threei}  can you leave them at the door?
[09:17] {Les} the only thing stopping me from being a great trader. can do
[09:18] {cipher} gm
01[09:18] {Threei}  cipher :)
[09:19] {jdetente} good morning
[09:19] {ese} gm
01[09:19] {Threei}  jd, ese :)
[09:19] {Will49} gm
[09:20] {ese} will vad jd C
[09:20] {ese} thom les
01[09:20] {Threei}  will :)
[09:20] {Will49} hey ese
[09:20] {Will49} Vad
[09:21] {Will49} tom and les too
[09:21] {jdetente} everyone is so friendly this morning and of course I notice nemo isn't here...hmmm
[09:21] {Will49} :)
[09:21] {Will49} mroning jd
[09:21] {Will49} morning
[09:22] {jdetente} top o the morning will
[09:22] {thomcbell} yes gm all
[09:24] {ese} who is it on this board that lives in Nashville or Memphis..........I remember we had a discussion about that a few months back
01[09:24] {Threei}  acording to this, next crisis is Slovenia:
01[09:24] {Threei}  - ECB's Kranjec: Slovenia can still avoid bailout, very sure they will not get into situation like Cyprus
[09:25] {nemo} patel?
[09:25] {ese} I think your right nemo
[09:25] {nemo} that comforts me greatly
[09:26] {ese} my high school R&B band just bought our tickets for Memphis yesterday
[09:26] {Les} that be redneck territory, is it not?
[09:26] {nemo} rednecks are everywhere
[09:27] {ese} there  up here in Calgary
[09:27] {ese} Alberta
[09:27] {nemo} there in Switzerland too
[09:27] {ese} it's blues territory more than red necks
[09:27] {Will49} Blues play in St Louis
[09:29] {ese} the blues play everywhere.......big blues community here in victoria also
[09:29] {Will49} :)
[09:29] {jdetente} will's talking hockey
[09:30] {jdetente} ha
01[09:32] {Threei} Long Setup:  JPM  .55 break
01[09:33] {Threei}  If holds  .50
[09:33] {cipher} ctsh l.94
01[09:35] {Threei}  meh
[09:36] {cipher} BIDU L .53
[09:39] {ese} L anac .54
01[09:39] {Threei}  BlackBerry Credit Suisse reiterates Underweight rating, price target $10- Firm notes recent enthusiasm for Blackberrys new BB10 devices, but they see limited scope for traction in the hyper-competitive smartphone market. - Firm believes that Blackberrys major business model change in services will result a significant decline this high margin revenue stream, driving operating losses and potential cash burn.
01[09:40] {Threei}  (CY) Eurogroup's Dijsselbloem: Europe is still willing to help Cyprus but it is up to Cyprus to make the first step; convinced Cyprus will not leave the eurozone
[09:40] {nemo} kick 'em out of the playpen
01[09:40] {Threei}  JPM rinse
01[09:41] {Threei} Long Setup:  LVS  .90 break hl
01[09:41] {Threei}  If holds  .80
[09:42] {cipher} pcyc l.05
01[09:43] {Threei}  Invalidated
[09:43] {Les} JPM .50 recross?
[09:44] {Les} forget it
01[09:44] {Threei} Short Setup: C  .15 break
[09:45] {ese} OUTTTT!!!!!!! anac .87 +.33
[09:46] {backman} nicely done
01[09:46] {Threei}  stop us .21
[09:46] {ese} tks
01[09:47] {Threei}  target 1:2
01[09:48] {Threei}  1:1. half out
01[09:51] {Threei}  changing target to 1:3... 45 is too good support, should drop more if loses it
[09:51] {Les} s1 pivot support .81
01[09:51] {Threei}  stop for the balance is .16 of course
01[09:52] {Threei}  "obviously"
01[09:52] {Threei}  (slanting at tbell)
[09:52] {thomcbell} YES
[09:54] {cipher} WDC L .40
[09:55] {cipher} out .60 +.20
[09:55] {Les} GS about too take leg down
01[09:56] {Threei}  good
01[09:56] {Threei}  C is waiting for guidance from high above
01[09:57] {Threei}  important support is like magnet... JPM bounces, SPY bounces, C is drawn to this 45 line as if it was hypnotized
[09:58] {thomcbell} lvs wicked moves
01[09:58] {Threei}  a bit too listless
[09:59] {Les} but always falling back under vwap tbell
[09:59] {Les} could be distribution
[09:59] {Les} .90 vwap
[10:00] {Les} GS back to vwap
[10:00] {Les} wow
01[10:01] {Threei}  (IT) Italy President Napolitano invites Bersani to conference at 16:00 GMT -
01[10:01] {Threei}  sounds as they resolved this crisis
[10:02] {Les} italy?
01[10:02] {Threei}  yeah
[10:02] {Les} u mean the elections?
01[10:02] {Threei}  govt forming
01[10:02] {Threei}  (EU) ECB to stop accepting Govt guaranteed bank bonds as collateral effective March 1, 2015
[10:02] {cipher} pcyc l.00
01[10:02] {Threei}  huh... look what just popped on my FB... familiar faces:
01[10:03] {Threei}  dp, don't look
01[10:03] {Threei}  who doesn't knowm, it's ese band
[10:04] {Will49} the best part of it anyway
[10:04] {Will49} jk
01[10:04] {Threei}  right
[10:05] {ese} am not on facebook.....can't view it
[10:05] {Les} don't think i've liked your page vad, not easy to find
01[10:05] {Threei}  1:2 C
[10:05] {backman}
01[10:05] {Threei}  can you see this, ese:
[10:05] {Les} no
01[10:05] {Threei}  it's your band, and my photo of it
[10:05] {Les} might be browser I am using
[10:06] {Les} remember this from before when u linked to something
[10:06] {ese} who am I looking for
01[10:06] {Threei}  stop to .06 for the last 1/4
01[10:07] {Threei}  les...
01[10:07] {Threei}  better,
[10:09] {Les} yeh your feeds come through no problem, but linking always is
01[10:10] {Threei}  ok, out last piece
[10:10] {Will49} me too tks Vad
[10:10] {backman} ORCL back toward low
01[10:11] {Threei}  tries to double-bottom
01[10:12] {Threei} Short Setup: BBRY  .65 break
01[10:12] {Threei}  If holds  .75
[10:14] {ese} hey can't see that
01[10:15] {Threei}  Invalidated
01[10:15] {Threei}  well, it's a facebook page of your band, using my photo of it in Butchart as a cover
[10:16] {ese} ahh  terrific.....thank you very much
01[10:16] {Threei} Short Setup: ORCL  32 break
01[10:16] {Threei}  If holds  .10
[10:19] {Les} BBRY short here vad?
[10:19] {Les} .75?
01[10:20] {Threei}  no
01[10:20] {Threei}  pullback on decreasing volume
01[10:20] {Threei}  what kind of setup is that
[10:20] {Les} k
[10:20] {Les} breakout
[10:20] {Les} pullback entry
[10:20] {Les} long
[10:23] {cipher} lulu l .40
01[10:24] {Threei}  ORCL is valid still
[10:25] {cipher} infi l .12
01[10:25] {Threei}  market loses steam
[10:26] {backman} any setup in EBAY at 10:05--10:10?
01[10:27] {Threei}  not too pronounced one
01[10:27] {Threei}  not very compelling
[10:27] {backman} thnx
01[10:29] {Threei} Short Setup: JPM  .80 break
01[10:29] {Threei}  If holds  .85
01[10:31] {Threei}  1:1
01[10:32] {Threei}  quick, 111 Trades readers, what setup this was?
[10:32] {Les} good question
[10:32] {thomcbell} kangaroo
[10:32] {Les} I recognise the reversal signal
01[10:32] {Threei}  A+
[10:32] {Les} dt
01[10:32] {Threei}  tbell
[10:32] {Les} kangaroo?
[10:33] {thomcbell} rimm big volume
01[10:33] {Threei}  kangaroo tail reversal
[10:33] {Les} will have to look that one up
01[10:33] {Threei}  BBRY rug pull
01[10:34] {Threei}  looks news-driven
[10:34] {Les} vwap is .55
[10:34] {thomcbell} was it a fat finger on spy though
01[10:34] {Threei}  CNBC was discussing it
01[10:35] {Threei}  I didn't listen really, maybve they said something
01[10:35] {Threei}  (CY) Cyprus parliament's Neofytou: Hopeful Govt can pass the bills tonight, cautiously optimistic- Sees having a deal within the next few hours
[10:36] {Les} took last quarter .66 ty jpm
[10:36] {Les} ORCL
[10:39] {jdetente} Ravi lol
01[10:40] {Threei}  yessss!!!
01[10:40] {Threei}  I was wondering... and getting kind of sad
[10:40] {Les} Is ravi of US origins?
01[10:40] {Threei}  ORCL is valid again
[10:40] {Will49} we should all chip in and buy him a month of the room :)
01[10:41] {Threei}  sorry, I have to keep privacy of others... even when they try to break in :)
[10:43] {Les} sure
[10:43] {Les} dumb question
[10:43] {thomcbell} vad there was a pretty qjuick cup and handle failure break on bbry at 10:33 - that was the only setup
[10:43] {thomcbell} that triggered
[10:43] {Les} 10 cent stop or .05?
01[10:43] {Threei}  ORCK? .10
[10:43] {Les} k
01[10:44] {Threei}  tbell... formally yes, but in reality it happened so suddenly, I doubt it was playable
01[10:45] {Threei}  1:1 ORCL
[10:45] {thomcbell} yes you had to be seriously reaching for any entyry
01[10:45] {Threei}  I am pretty sure it was not a technical move
[10:46] {thomcbell} deck 49.50 long break if holding 49.40
[10:49] {thomcbell} deck 1:2
[10:49] {thomcbell} barely got any shares
[10:49] {thomcbell} but thee
[10:50] {thomcbell} there
01[10:50] {Threei}  out JPM in full
01[10:51] {Threei}  1:2
01[10:51] {Threei}  ORCL 1:2
01[10:51] {Threei}  can I go home?
[10:51] {jdetente} covered a quarter of orcl at .81
[10:52] {Will49} nice calls Vad
[10:52] {jdetente} touched .80
[10:57] {Les} done .71 ty
[10:58] {thomcbell} bbry wants pivot 16.20
01[11:00] {Threei}  yw
[11:03] {Les} lvs .00 break?
[11:03] {Les} forget it
[11:06] {backman} anyone recommend backup broker when Laser is down?
[11:07] {Les} broker or the platform?
[11:07] {backman} when platform is down...want backup broker
01[11:08] {Threei}  I don't think it's worth it
[11:08] {backman} ?
01[11:08] {Threei}  it happens very rarely, backup broker will be needed for a brief period of time that occurs once what, a year? But software and exchange fees will be there all the time
[11:09] {backman} ahh...OK..thnx
01[11:09] {Threei}  you will pay for the privilege to trade in those 30 min when something happens
[11:09] {Les} would your laser and my fusion platforms be using same server Vad? Or do the providers of these platforms have their own seperate servers?
01[11:09] {Threei}  and will spend 25 of them getting used to a platform you dopn't have every day's familiarity with
[11:10] {thomcbell} bbry 16.39 break long for a scalp
01[11:10] {Threei}  separate, les
[11:10] {Les} so it's nto the broker providing the data feed
[11:10] {thomcbell} vwap target
01[11:10] {Threei}  no, broker proived access to a platrofn, platform has its own feed
[11:11] {Les} ok
01[11:11] {Threei}  ultimtaely they all come to an exchange,
01[11:11] {Threei}  if exchange has problem, all of them will
01[11:11] {Threei}  that's why you spmetimes see situation like "ARCA is down nationwide"
01[11:12] {Threei}  if a feed is down at the platform derver level, then platform will be down for all brokers
01[11:13] {Threei}  etc
01[11:13] {Threei}  to make matters even more confusing, there are routes,
01[11:13] {Threei}  which means problem might be specific to some geogra[hic area
[11:14] {Les} so like data highways to specific areas?
01[11:14] {Threei}  for instance power outages at internet routes
[11:14] {Les} oh ok
01[11:14] {Threei}  but heck... how often does it all happen
[11:14] {Les} in Switzerland.... never
[11:15] {Les} buried those cables long time ago
01[11:15] {Threei}  not on our lovely island :)
[11:15] {Les} remember that eyesore from Oz
01[11:15] {Threei}  power cables are up in the air
[11:16] {Les} remember frequent power outages during hot stormy summers
01[11:16] {Threei}  wind storms in foresty areas lead to many of them being torn
[11:16] {Les} can't remember if had an outage in 13 years here
[11:16] {Les} maybe once
[11:16] {Les} one reason switzerland is expensive to live in
01[11:16] {Threei}  burying them costs huge money, so they prefer to fix them after each storm
[11:16] {Les} yeh we've got demographic density here
[11:17] {Les} and a postcard tourist image to protect...
01[11:17] {Threei}  (CY) Cyprus parliament said to have had requested changes to the bank bills, but ECB was not in favor of the adjustments - financial press- The report also notes that the Cyprus govt is considering presenting Parilament with a revised deposit levy proposal.
01[11:18] {Threei}  we don't have much density... I can drive about 25 min to Will's place, and not even meet ese on my way
[11:18] {ese} hate mrkt days like today..............ultimate test for how you can handle boredom
[11:18] {Les} yeh seen the Google images of yer area
[11:18] {Les} no hiding from big brother
01[11:19] {Threei}  and it's an island... try to drive across Canada, some areas are almost total wilderness for hundreds of miles
[11:19] {Les} will do it before I get to old
[11:19] {Les} Annie needs the museums and art
[11:19] {Les} I need space
[11:19] {Les} canada good fit
[11:20] {Les} and not so bloody hot as australia
01[11:20] {Threei}  well, it's bloody cold instead, except on our island, lol
[11:21] {Les} UPS short break of .90 holding .00?
[11:21] {Les} or 2 way?
01[11:22] {Threei}  I'd take long and skipped short
[11:22] {Les} k
[11:22] {Les} 20 day moving average is 84 resistance
01[11:22] {Threei}  unless Cyprus says Bye-Bye, Mein Lieber Herr, sending market down in a hurry
[11:25] {ese} you thinkin of moving here Les?
01[11:27] {Threei}  he can't... nemo said he will make it his life purpose to make sure North America remains Les-less
[11:27] {Les} with a trader's salary would like to see a bit more of the world before all we all go down the crapola
01[11:27] {Threei}  UPS 1:1
[11:27] {Les} ty sir
01[11:27] {Threei}  sure thing
[11:29] {thomcbell} bbry lod
[11:31] {thomcbell} well vad they certainly didnt make the short entry easy
01[11:31] {Threei}  no
01[11:31] {Threei}  and here is the most insulting part:
01[11:32] {Threei}  a day or two ago I said this is the day when I will start looking for BBRY short...
01[11:32] {Threei}  the day of US launch
01[11:32] {Threei}  nothing like having right trading idea and not finding an entry
01[11:33] {Threei}  15:44] {Threei} probably time to start paying attention to BBRY again
01[11:33] {Threei}  [15:44] {Threei} when is the US launch? Match 22 or so?
01[11:33] {Threei}  [15:45] {Threei} march
01[11:33] {Threei}  [15:46] {Threei} yes
01[11:33] {Threei}  [15:46] {Threei} BlackBerry Confirms AT&T To Launch BlackBerry Z10 March 22
01[11:33] {Threei}  [15:47] {Threei} unless it offers sensational resul;tsa, I'd think it will be a great short opportunity
01[11:33] {Threei}  [15:47] {Threei} no more surprizes, quiet fizzle out
01[11:33] {Threei}  [15:48] {Threei} only break ober 18.30 will change my perception
[11:33] {Les} bearish 3 min macd was my clue to ask for short at .75 divergence increased on 2nd top forgot to follow it.
01[11:33] {Threei}  can you believe it :)
[11:34] {Les} lol that's today
[11:34] {Les} sell that sucker
01[11:34] {Threei}  it wasn't ready for a short technically at that point Les
01[11:35] {Threei}  this is what sent it down, just as I said:
[11:35] {Les} yeh that I understand
01[11:35] {Threei}  BlackBerry Tests session lows on cautious comments from BGC Partners analyst on CNBC
[11:35] {Les} pivot is .20
[11:35] {Les} bbry
01[11:36] {Threei}  so... I get points for foretelling the scenario, no profit from it (so far at least) and blame nemo for all that
01[11:37] {Threei}  - Hope is triumphing over experience this morning as Cyprus legislators work to pass a new package of reforms to save themselves from disaster. European indices traded up off steep session losses in the early US morning on optimism Cyprus would come up with something workable, and US equities are presently at session highs. EUR/USD has soared from 1.2890 to around 1.3010 presently
01[11:38] {Threei}  hmmm... I don't think they use word "presently" right
01[11:38] {Threei}  "I don't think this word means what you think it means"
01[11:38] {Threei}  at least I was taught "presently" is not a substitute for "at present moment"
01[11:39] {Threei}  frikin English native speakers... no help at all :)
[11:40] {jdetente} we speak 'Merican and use words like y'all and ain't
[11:40] {jdetente} hehe
[11:41] {Les} last piece ups -.02
01[11:42] {Threei}  that's better than what I speak, jd...
01[11:42] {Threei}  some think it's Merikan
01[11:43] {Threei}  I prefer to call it Threeiish
[11:43] {Les} nothing wrong with presently... I think
01[11:43] {Threei}  sure there is Les
01[11:43] {Threei}  presently doesn't mean "right now"
[11:43] {Les} I don't like presently
[11:43] {Les} yeh
[11:43] {Les} right
[11:43] {Les} for that reason
01[11:43] {Threei}  presently means "very soon"
[11:44] {Les} aaaaaaaaaah
[11:44] {jdetente}
[11:44] {Les} hmmmmmmm
01[11:44] {Threei}  as in: EU is going to crash presently
01[11:44] {Threei}  The Cyprus parliament is struggling to pass a new package of measures, including a total banking sector restructuring and a revised bank levy, although depositors holding �100K or less are said to be protected this time around. Analysts warn that the Troika may or may not accept whatever the parliament adopts, and officials from eurozone have not seen the new package. The EU more or less rejected the solidarity fund idea and the Russians do not seem interested in handing Cyprus a new loan. Former Cyprus Central Bank Chief (and ECB governor) Athanasios Orphanides warned that the events in Cyprus show "the European project is crashing to earth. This is a fundamental change in the dynamics of Europe towards disintegration and I don't see how it can be reversed."
[11:44] {jdetente} that link explains it perfectly
[11:44] {Les} I have to disagree. think common use of presently has changed
01[11:45] {Threei}  thanks jd, that's it
[11:45] {Les}
[11:45] {Les} old use - at once
[11:45] {Les} so I am archaic in my use of english
[11:45] {jdetente} Les, are you saying that currently the definition of presently has changed??
[11:45] {Les} don't start jd
[11:45] {jdetente} you don't like my I'm sad
[11:45] {jdetente} lol
[11:46] {Les} name u nemo junior
[11:46] {jdetente} now that's just mean, man
01[11:46] {Threei}  heh
[11:46] {jdetente}
[11:46] {Les} :)
01[11:47] {Threei}  he went through nemo training, "mean" is the best compliment he can get
01[11:47] {Threei}  jd...
[11:48] {jdetente} oh man I use that Lebowski line all of the time. Love that movie
01[11:48] {Threei}  :)
[11:48] {jdetente} The scene about how much he hates the Eagles is another favorite
01[11:48] {Threei}  The Dude is unparalleled
[11:48] {jdetente} The Dude abides
01[11:51] {Threei}  Russian Leader Warns, �Get All Money Out Of Western Banks Now!�
01[11:51] {Threei}  this aggression will not stand, man
01[11:51] {Threei}  A Ministry of Foreign Affairs (MFA) �urgent bulletin� being sent to Embassies around the world today is advising both Russian citizens and companies to begin divesting their assets from Western banking and financial institutions �immediately� as Kremlin fears grow that both the European Union and United States are preparing for the largest theft of private wealth in modern history.
[11:52] {Les} yeh bring yer money home to the fatherland
[11:52] {Les} good one
[11:52] {Les} or is it motherland?
01[11:52] {Threei}  motherland
[11:52] {Les} ORCL getting heavy again
01[11:52] {Threei}  although there is a variation with fatherland too
01[11:53] {Threei}  "otechestvo"
[11:53] {ese} Thats a joke right?
01[11:53] {Threei}  so either will do
01[11:53] {Threei}
01[11:53] {Threei}  why joke ese? isn't it exactly what they tried and still intend to do in Cyprus?
[11:55] {Les} all going down ese. u be careful with italian customs next time u r over here. might shake u down...
[11:55] {ese} modern communication............ya can't beat the fear mongering it can's a wow
01[11:55] {Threei}  well, fear was instilled by Cyprus/ECB action first
01[11:55] {Threei}  this is merely a reaction on what they did
01[11:56] {Threei}  how else will you qualify confiscation of 10 - 15% of bank deposit but a theft of private property?
01[11:57] {Threei}  money you keep in the bank, is it your money or bank's?
[12:00] {ese} mine plus 100% interest for lending it to them
01[12:00] {Threei}  korreqt
[12:00] {ese} lol
01[12:01] {Threei}  so, how else will you qualify confiscation of 10 - 15% of bank deposit but a theft of private property?
[12:01] {ese} sure is stunning....thats all I can say
01[12:01] {Threei}  you do know that's what ECB and Cyprus are trying to do, right?
01[12:02] {Threei}  so, why blame those who SAY "get out of those banks" and not those who DO this kind of things?
[12:02] {ese} yup
[12:03] {_littleal} We have FDIC coverage on our bank accounts.  If you are over the limit and the bank fails you become an unsecured creditor and take your chances.  You could lose 50% to 100%.
[12:03] {ese} i guess.......i guess they'd be stupid enough to do it......nothing surprises me any more
01[12:03] {Threei}  yes
01[12:04] {Threei}  asnd they tried to charge that levy even on insured accounts under 100K limit
[12:04] {_littleal} I see the Cyprus thing as the big guys trying to spread the pain around to the little guys.
01[12:04] {Threei}  exactly
01[12:05] {Threei}  sorry, eqzaktly
01[12:05] {Threei}  it's also an attempt to resolve their debt problem at the expense of taxpayer
01[12:06] {Threei}  which in a way is fair, after all it was this same taxpayer who voted in giovernments that can't stop spending
01[12:06] {Threei}  but in EU there is another flavor to it - no one elected EY government
[12:07] {_littleal} A lot of the Cyprus money is not from Cyprus.  Like a hotel tax, you tax people outside your area.
[12:07] {Les} aggressive entry on BBRY for break of low?
01[12:07] {Threei}  well, in hotel tax case they have a choice to come or not
[12:07] {Les} .15?
[12:07] {Les} nope
01[12:07] {Threei}  you don't charge hotel tax after their arrival without telling them prior :)
01[12:07] {Threei}  no
[12:08] {_littleal} Go to Vegas and get hit with a resort fee.
01[12:08] {Threei}  better analogy will be:
01[12:08] {Threei}  you come to Vegas,
01[12:08] {Threei}  they tell you they will charge you 10% after you settled in hotel,
01[12:09] {Threei}  you say "wait, there was no such charge in our agreement"
01[12:09] {Threei}  they say, yeah, we just decided to charge it,
01[12:09] {Threei}  you say "then I leave"
01[12:09] {Threei}  and they say no, you can't
01[12:09] {Threei}  That's what they did
01[12:10] {Threei}  btw, you know that they install capital controls as well?
[12:10] {_littleal} Hidden fees and changing the rules are 2 different things.  Cyprus is changing the rules
[12:10] {ese} well....let me see..........196 countries in the world(197 if you count Vancouver Island) minus 47 in Europe....leaves only 150 to go for crissis management.  Give this a break...sheesh
01[12:10] {Threei}  which means even after you pay that resort fee, you can't just up and leave
01[12:11] {Threei}  yes... Cyprus is changing rules, that's what I said
[12:12] {jdetente} If this Cyprus thing goes through it sets a terrible precedent
01[12:12] {Threei}  yup
[12:12] {jdetente} it's shortsighted
01[12:12] {Threei}  it means whole banking system, at least in EU, is not credible anymore
[12:12] {jdetente} of course the Euro model is/was shortsighted
[12:13] {Les} which makes dumbasses in EU such dumbasses
[12:14] {Les} and Switzerland don't want the money
[12:14] {Les} heeello Singapore
[12:14] {ese} hate to be the devils advocate here but you guys can't actually believe there that stupid?
[12:14] {Les} shit yeh
01[12:15] {Threei}  why ese?
01[12:15] {Threei}  sorry... "who"?
01[12:15] {Threei}  ECB?
[12:15] {Les}
[12:15] {ese} the eu banking system
01[12:15] {Threei}  I assume you meant "they're"
01[12:16] {Threei}  what to believe ese?? this is what they DID
01[12:16] {Threei}  you don't believe your own eyes?
[12:16] {ese} did i miss something.....have they actually gone through with this law in Cypress
[12:17] {Les} Germany slowly working out that it doesn't have future in present EU. National politics begin to resurface
01[12:17] {Threei}  wow... have you been on this planet this week? :)
[12:18] {ese} and my question.....did I miss that law actually passed
01[12:18] {Threei}  ECB demanded this levy on accounts, Cyprus announced it, people revolted, Cyprus voted against it, ECB insists and says they will not bail them out unless they do it
01[12:18] {Threei}  this is whwre we are right now
[12:18] {ese} there thinking about it for monday
[12:19] {ese} ok......then i stand corrected......I missed that part
01[12:19] {Threei}  so, answer your question: yes, they ARE that stupid
[12:19] {ese} so basically they are saying the money in Cyprus banks is dirty money
01[12:20] {Threei}  but your faith in their rationality is adorable
01[12:20] {Threei}  no, this is not what they are saying
01[12:20] {Threei}  this is what they try to use as justification
01[12:20] {Threei}  what they are saying is:
01[12:20] {Threei}  when we need money, we can confiscate yours
[12:21] {_littleal} Banks go insolvent when assets decline so did they load up on Greek debt or poor real estate loans or both?
01[12:22] {Threei}  we don't know exactly... that article implies that Cyprus banks got involved in Greece crisis loaning them money, and that's what got them in troubles
[12:24] {_littleal} If the EU guarantees the Greek debt and this is the problem then the banks may not be insolvent and is a grab for money.
01[12:25] {Threei}  quite possibly.. with all the economic and political cross-currents, it's very opague
01[12:25] {Threei}  whole problem in Cyprus is 10B-sized, with is nothing
[12:26] {_littleal} Get politicians behind closed doors and there is not telling what they will do and the agenda they are trying to get.
01[12:26] {Threei}  but they insist on making it this bad, because each has their own electorate problem,
[12:26] {Will49} Cyprus=camel's nose under tent flap
01[12:26] {Threei}  Merkel faces election in climate increasingly hostile to bailing out other nations
01[12:27] {Threei}  and all of sudden tiny Cyprus become that same iceberg...
01[12:28] {Threei} Long Setup:  BP  .05 break
01[12:28] {Threei}  If holds  42
01[12:35] {Threei}  meh
01[12:36] {Threei}  ese... you here?
01[12:36] {Threei}  the latest:
01[12:36] {Threei}  (CY) Troika reportedly demands increase of Cyprus contribution to �6.7B (�5.8B prior); Cyprus Govt has agreed to the larger contribution, to discuss with party leaders - financial press
01[12:36] {Threei}  - Troika notes the conditions have become worse and therefore Cyprus contribution must increase.
01[12:36] {Threei}  - Cyprus Fin Min: Deposit levy still among the options being considered.
01[12:36] {Threei}  tell us again how "not stupid" they are
[12:37] {Les} Troika sounds like gangsters demanding protection payment
01[12:37] {Threei}  EU is a band of communists
01[12:38] {Threei}  some are openly such, as Barosso
[12:39] {_littleal} Troika and the Russian mob...Sharks take care of their own
01[12:39] {Threei}  or eat each other
01[12:40] {Threei}  I mean, there was no daylight between Stalin and Hitler
01[12:41] {Threei}  it's been 2 hours since last ravi grand entrance... I start missing him
[12:44] {ese} yes.......just watching the Oak Bay municipal yard people make a frickin mess of my front yard
01[12:45] {Threei}  see what happens when you don't own a gun
[12:51] {Will49} Victoria we have to cut our own grass. Can't get the muni workers to do it:)
01[12:53] {Threei}  again Will... get a gun and ask them politely :)
01[12:54] {Threei}  kind word and a gun are so much more effective than a kind word alone
01[12:55] {Threei}  you don't even have to take it out - strap it to the hip and wear lulu pants
01[12:56] {Threei}  (IT) Italy President Napolitano: Have given Bersani the mandate to form a Govt; there are some obstacles to a broad coalition Govt- Italy PD party's Bersani: Will attempt to start a dialogue with other political parties to form a Govt. **NOTE: Bersani said yesterday that he will try to present a narrow agenda of economic and institutional reforms that could gain support from a majority of the Parliament. - If no agreement to form a govt in Italy can be reached, a caretaker govt would be installed and new elections would be set, possibly as early as June
01[12:57] {Threei}  (CY) Finland Minister to the EU: Cyprus needs to divise an answer to the crisis by Sunday at the latest
01[12:57] {Threei}  divise?
01[12:58] {Threei}  I swear their typing is worse than mine
01[12:58] {Threei}  and I thought I was unbeatable
[12:59] {Will49} you would be with lulu pants
[12:59] {Les} ORCL bb strangle here
01[13:00] {Threei}  touche will
[13:02] {Will49} wouldn't touch your lulu pants with a ten-foot pole
[13:02] {Will49} touche
[13:03] {Les} bp short .89 stop above .00
01[13:04] {Threei}  Fitch expects to complete its review of the UK's sovereign ratings by the end of April. The RWN reflect the latest economic and fiscal forecasts published by the Office for Budget Responsibility (OBR) that indicate that UK government debt will peak later and at a higher level than previously expected by Fitch. General government gross debt (GGGD) and public sector net debt are forecast by the OBR to peak in 2016-17 at 100.8% and 85.6% of GDP and only begin to decline in 2017-18. Fitch has previously stated that GGGD failing to stabilise below 100% of GDP and on a firm downward path towards 90% over the medium term would likely result in a downgrade of the UK's sovereign ratings.
01[13:05] {Threei} Short Setup: BBRY  .20 break
01[13:05] {Threei}  If holds  .30
[13:07] {Les} not shortable of course
[13:08] {Will49} got it here
[13:25] {Les} ORCL VWAP here
[13:28] {thomcbell} bbry standard scalp procedure Vad?
01[13:28] {Threei}  if it works it should be more than scalp
[13:29] {thomcbell} market is strong as 10 men
01[13:29] {Threei}  BBRY is in its own world today...
[13:30] {Les} s orcl .93 stop above 32
[13:32] {ese} OMG   something is moving
[13:32] {Will49} Oak Bay muni workers?
[13:32] {backman} ahh, the wrong places i could go with that ese
[13:33] {ese} Ya them too will
[13:33] {ese} lol
01[13:33] {Threei}  lol
[13:33] {Will49} call the Mayor if they slow down again
[13:33] {Will49} ese, you probably in top ten tax payers in OB
[13:33] {Will49} you have influence
[13:34] {Will49} i saw the list:)
[13:34] {Will49} that's why I agreed to drink beer with you
[13:34] {Will49} maybe you can get me job at city hall
[13:35] {Will49} or in public works:)
01[13:36] {Threei}  1:1
[13:41] {Will49} why the similar candles on spy 1 minute?
[13:42] {thomcbell} this could easily crack to 15.60 with correct domino placement Vad
01[13:44] {Threei}  yes, we just need panic to start
01[13:44] {Threei}  two ways to do that
[13:44] {Will49} wera your lulus
01[13:44] {Threei}  one involves nemo with grenade
[13:44] {Will49} wear
01[13:45] {Threei}  another russina mobster with gun, in those same pants
[13:45] {Les} scottish parachutists apparently
[13:45] {Will49} LOL
01[13:45] {Threei}  that's third, and a good one, les
01[13:45] {Threei}  there is also a group of mobsters in tutus, doing rain dance
[13:46] {Will49} hahaha
[13:47] {Will49} hey bought your russian lulus yet?
01[13:48] {Threei}  he is traditional guy, he prefers tutu
[13:48] {Will49} :)
[13:49] {ese} easily one of the highest taxpayers with 2 houses
[13:49] {Will49} thought so
[13:51] {ese} We've just decided were going to do a Grimbergen again tonight if your interested.......our neighbor heard us talking about it and she wants to do it..........
[13:51] {jdetente} glad that Grimbergen is a beer...
[13:51] {jdetente} because otherwise..
[13:52] {Les} lol
[13:52] {ese} other wise what eh?
[13:52] {Will49} lol
01[13:52] {Threei}  lol
[13:52] {Will49} have to check with the tea-totalling wife
[13:53] {ese} ok
01[13:53] {Threei}  BBRY 1:2
01[13:53] {Threei}  let the panic begin
[13:54] {jdetente} that hit 1:3 but filled at .91
01[13:55] {Threei}  wtg
[13:55] {Will49} got 1:3 tks Vad
[13:55] {Will49} just
01[13:56] {Threei}  1:3
01[13:56] {Threei}  yw
[13:56] {Will49} best execution yet for me
[13:56] {jdetente} I'm out thanks Vad
01[13:56] {Threei}  nothing like a good panic
[13:56] {Les} C at vwap and support
01[13:56] {Threei}  I love those
01[13:56] {Threei}  we tend to find ourselves on the right side of it
[13:56] {Will49} lucky eh?
01[13:57] {Threei}  not at all
01[13:57] {Threei}  predicted a few days ago
[13:57] {Will49} bow to you
01[13:57] {Threei}  1:4
01[13:57] {Threei}  saw this 1000 times
[13:57] {backman} 15.75 was support a few days ago
01[13:57] {Threei}  day of expected event
01[13:58] {Threei}  run upo to this, selloff when there is nothing to expect anymore
01[13:58] {Threei}  crowd comes in
01[13:58] {Threei}  smart money gets out
[13:58] {jdetente} this one deserves a chart on the ol facebook
01[13:58] {Threei}  read TTR, and you know all you need to know about it
01[13:58] {Threei}  read A taoist Trader, and you know all you need to know how to exploit it
01[13:59] {Threei}  will do jd
[13:59] {thomcbell} trailing stop on bbry is 15.86 for me
[13:59] {Will49} whoa nelly
[14:01] {thomcbell} really that was the only legitimate short entry of the day on it Vad - very well played
01[14:01] {Threei}  ty
[14:04] {Les} c short .24 stop above .30
[14:07] {Les} cover half c .19
01[14:09] {Threei}
01[14:09] {Threei}  ravi, man... this one alone was worth the price of admission
[14:10] {Will49} pretty sight
[14:10] {Les} cover half orcl .88 +.05
01[14:10] {Threei}  all the creativity deployed to come up with 4 different usernames, if aimed in the right direction, just think of it...
[14:11] {Will49} Dale Evan's grandson
[14:11] {Will49} Evans'
[14:12] {Will49} If you get this one, you're too old:)
[14:13] {jdetente} definitely a reference for the oldies
[14:13] {jdetente} ancient even
[14:14] {Les} cover c .10
[14:14] {Will49} Roy hero back in the age of naiveity
[14:14] {Will49} could'n spell then either
[14:16] {jdetente} BBRY trying to do a 1:6er
03[14:18] * Retrieving #discussions modes...
[14:18] {thomcbell} target Vad
[14:19] {thomcbell} lol
01[14:19] {Threei}  yup :)
[14:19] {Les} cranky on bbby
[14:19] {Les} nice sell the news example
01[14:20] {Threei}  isn't it beautiful when such a seemingly general understanding comes in as a foundation for a very practical implementatikon and very precise play
[14:21] {Les} got a educated friend telling me trading is random and controlled by machines. will have to show him that trade setup.
01[14:22] {Threei}  almost as gravity... you know it exists but you don't really want to believe it... and then that apple falls right on your head
01[14:22] {Threei}  tell him he is educated by academics who never made a dime in actual market
[14:22] {Les} bingo
01[14:22] {Threei}  I meet these types by dozens
01[14:22] {Threei}  typical dialog:
01[14:23] {Threei}  You are a trader? but it's random environment, how do you make a living
01[14:24] {Threei}  No, it's not. It's uncertain environment, but so is yours when you come out of your house and there is a brick up there, on the edge of the roof... will there be a wind gut sending it on your head or not?
01[14:24] {Threei}  But I read a study that shows that it's random.
01[14:24] {Threei}  Sorry, you are by profession?...
01[14:24] {Threei}  Oh, I am a biologist... plant, botany
01[14:25] {Threei}  Ahha. Listen I read a study that shows that pkants are the same as animals, only very slow.
01[14:25] {Threei}  ??? This is lunacy. Some idiot wrote it.
01[14:25] {Threei}  There you go!
01[14:25] {Threei}  at this point he blinks and realizes the connection
01[14:26] {Threei}  If he doesn't and continues, my last line is:
01[14:26] {Threei}  I do it for a living for the last 16 years. You read one study. You know about it more than I do, sorry.
[14:27] {_littleal} Checked out my old college textbook on The stock market theory.  What a laugh.  No discussion of technical analysis.  This is what they teach.
01[14:27] {Threei}  yeah, "efficient market theory"
01[14:27] {Threei}  what a load of crap
[14:27] {_littleal} random walk
01[14:28] {Threei}  here is one strangest thing for which I haven't found any explanation
01[14:29] {Threei}  if you are a doctor, engineer, pilot, whatnot,
01[14:29] {Threei}  no one thinks they can tell you something about your profession. By default, everyone assumes you know about it more than they do.
01[14:30] {Threei}  In markets, for some inexplicable reason everyone thinks vy default they are as knowledgeable about it as professional traders
01[14:30] {Threei}  They don't ask you, they tell you
01[14:30] {Threei}  They come in and try to make money, get their asses handed to them. Think they come out of it thinkiing they should stify?
01[14:30] {Threei}  study
01[14:30] {Threei}  No.
01[14:30] {Threei}  Their conclusion is:
01[14:31] {Threei}  I tried to trade, it didn't work, ergo it's impossible.
01[14:31] {Threei}  Whe I hear this, and I hear this often,
01[14:31] {Threei}  I say:
01[14:31] {Threei}  Hey, I tried to play piano once.
01[14:31] {Threei}  Didn't work.
01[14:31] {Threei}  Usually at this point everyone around gets this and laughs
01[14:32] {Threei}  except instigator, who gets all hot under the collar and red-faced
01[14:32] {Threei}  and hates me... which is very fuine with me
01[14:33] {Threei}  Makes me questionable party participant though :)
[14:33] {ese} ok....2:30......whadaya think...mrkt makes a run up from here to the endo of the day?
[14:33] {Les} yeh it was when u put Tao trader in front of me that I realised that Uni and education and accumulation of knowledge was half of the whole. One reason I pursued trading and Aikido
01[14:34] {Threei}  only of Cyprus says something positive ese
01[14:34] {Threei}  if
06[14:34] * Les kicks BP up the arse with a steel capped toe
01[14:35] {Threei}  any hint of agreement not being reached, we may get a good panic into close
01[14:36] {Threei}  who wants to carry position into weekend with this hanging sword
[14:36] {Les} The Fed's got yer back ;)
01[14:36] {Threei}  the Sword of Damocles
[14:42] {jdetente} wowzas BBRY
[14:46] {Les} ORCL q cover 1:3
[14:46] {Les} next stop daily low
[14:47] {_littleal} You still in BBRY?  Making a killing?
01[14:48] {Threei}  I was out at .60
[14:51] {Les} BP almost ready to let go
[14:58] {nemo} see where the 200 day is Les
[14:59] {Les} sure seen
[14:59] {Les} was my frikin entry that was atrocious
01[14:59] {Threei}  (CY) Cyprus haircut legislation reportedly has been pushed back to tomorrow
[15:00] {Les} wanted under .95
[15:00] {Les} stupid enough to sell the swan dive
[15:00] {Les} should already be 3/4 out
[15:00] {Les} but stupid is as stupid does
[15:00] {ese} cyou all monday........i'm not doin anything the rest of the day...have a great weekend
[15:00] {Les} ciao ese
01[15:00] {Threei}  take care ese
[15:00] {backman} l8r
[15:00] {ese} later les vad
[15:02] {_littleal} isn't the final hour where the self annointed smart money comes in?
[15:02] {thomcbell} bbry 1:15
01[15:02] {Threei}  supposedly, yes
[15:02] {backman} strange how long it took for BBRY news to play out in the market
[15:03] {Les} beautiful swan dive. gonna print out the daily and trade setup on BBRY
[15:03] {Les} ORCL daily lows here
[15:03] {Les} watching for DB
01[15:03] {Threei}  and like that FB post 5 times
[15:04] {nemo} they mean scalping legislation don't they
[15:06] {dptl} clf short?
[15:07] {_littleal} You know this Cyprus stuff of stealing deposits is nothing new.  John Corzine comes to mind.
01[15:07] {Threei}  hard to tell dp
01[15:07] {Threei}  nemo?..
[15:08] {nemo} ?
01[15:08] {Threei}  scalping legislation?
[15:08] {Will49} wake up nemo
[15:08] {nemo} yeah, like taking scalps..injun style
01[15:09] {Threei}  oh... sheesh, with 5 min between lines, who can reverse-engineer your thinking
01[15:09] {Threei}  without half-litre of vodka at least
[15:09] {Les} short ORCL .70?
[15:09] {Les} wanna average in again
01[15:10] {Threei}  hl
01[15:10] {Threei}  don't do full position, snapck can be vicious
01[15:10] {Threei}  snapback
[15:10] {Les} will leave it then. trail to .76
[15:13] {dptl} i am in .69
[15:15] {Les} averaged in to .80
[15:16] {thomcbell} bbry was best play in some time
[15:16] {thomcbell} wicked
[15:16] {Will49} i second that!
01[15:17] {Threei}  elegant one, I concur
[15:17] {backman} heck, I'm just playing with laser demo...even i liked it
01[15:18] {Threei}  but being a very compassionate one, I can't help but feel very sorry for reshi... or ravi...
[15:22] {Les} stopped .715 ave snapback
[15:22] {Les} BP stop to .91
[15:22] {Les} death or out flat
[15:27] {dptl} out -.08
[15:38] {Les} and finally stopped
[15:39] {nemo} damn, was hoping for death
[15:39] {backman} thnx all...been an instructive week
[15:39] {Les} nice weekend to you to Nemo
[15:39] {Will49} see ya back
[15:40] {Les} cheers Bman
[15:43] {Les} huge snapback in UPS
01[15:45] {Threei}  (CY) Cyprus parliament will vote today on 9 bills, but to delay vote on deposit levy so that it can be discussed further tomorrow - Cyprus press
01[15:45] {Threei}  crimbiots
[15:47] {dptl} see ya monday all have a good weekend
01[15:48] {Threei}   guys, thank you all
[15:48] {Will49} see ya dp
01[15:48] {Threei}  uneven but profitable week
[15:48] {Will49} bye everyone
01[15:48] {Threei}  have a great weekend
[15:48] {Les} cheers
01[15:48] {Threei}  see you Monday
[15:51] {jdetente} have a great weekend all