Wednesday, May 22, 2013

May 22 2013

Very good day for us despite sudden reversals triggered by Fed-speak, taper on/taper off musings and general nervousness. Got a few nice 1:3ers and other trades. Sharp drops in GLD, GDX etc are usually good to us as we are more inclined to short those.

Session Time: Wed May 22 00:00:00 2013
[08:00] {thomcbell} gm
01[08:35] {&Threei}  morning tbell
[08:36] {thomcbell} hi
[09:13] {dptl} gm
01[09:13] {&Threei}  dp :)
[09:14] {dino} gm
01[09:14] {&Threei}  dino :)
[09:14] {jdetente} morning all
01[09:14] {&Threei}  jd :)
[09:17] {Will49} gm
01[09:18] {&Threei}  will :)
[09:19] {dptl} ese is not here yet so i'll do it : Wiiiiiiiiiiiiiiiiilllllllllllllllllllll.....:)
01[09:19] {&Threei}  oh god... now we have two of them!
[09:19] {dptl} lol
[09:20] {Alexs} gm
[09:20] {RonS} hi y'all
01[09:20] {&Threei}  alex :)
01[09:20] {&Threei}  ron :)
[09:20] {Will49} Hey dp, how's it hangin'? :)
[09:21] {dptl} sun is shining here on mainland
[09:21] {cipher} gm
01[09:21] {&Threei}  cipher :)
[09:21] {Will49} and here, so far...but rain later
[09:22] {dptl} we had rain yesturday
[09:22] {Will49} what's new eh?
[09:22] {dptl} yeah
01[09:23] {&Threei}  when market activity calms down, I'll tell you quite a story about yesterday evening stroll
01[09:23] {&Threei}  "only in Victoria" kind
[09:24] {ese} gm
[09:25] {Will49} Eeeeeeeeeeeeeeeeeeeeeeeeeeeseeeeeeeeeeeeeeeeeeeeeeeee!!!!!!!!!!!!!!!!!!!!
[09:25] {dptl} lol
01[09:25] {&Threei}  lol
01[09:25] {&Threei}  ese :)
[09:25] {ese} was out aria end of day .51 +.61
[09:25] {dptl} good job Will
[09:25] {ese} lol
[09:25] {Will49} :)
[09:25] {Will49} wtg ese
[09:25] {ese} 3400shs
[09:26] {dptl} wow nice
[09:26] {Will49} i'm envious
[09:26] {dino} gj
[09:26] {ese} what can i say ..... will bringing lots of alchohol to the shiskabob party
[09:27] {ese} tks dino
[09:27] {Will49} you mean I will bring...
[09:27] {Will49} I=ese
[09:27] {dptl} yeah lol
[09:27] {ese} i meaning me
[09:27] {Will49} write that down dp
[09:27] {ese} lol
01[09:28] {&Threei}  FCX sharp dive
01[09:29] {&Threei}  Ben is speaking at 10
01[09:30] {&Threei} Long Setup:  GDX  .80 break
01[09:30] {&Threei}  gone... too fast
01[09:31] {&Threei} Short Setup: GDX  .90 break
01[09:32] {&Threei}  If holds  28
[09:33] {nemo} ntap
01[09:34] {&Threei}  stop to .96
01[09:35] {&Threei}  a lot of hesitation in the market
01[09:35] {&Threei}  1:1
[09:35] {robbers} out GDX, thanks Vad.
01[09:35] {&Threei}  yw
[09:36] {ese} in/out aria .71 .88 +.17
[09:37] {Will49} pot hunter:)
[09:37] {ese} whoa .20 in a flash
[09:37] {ese} no time to even post that
[09:40] {dptl} out balance gdx
[09:40] {Will49} out on trail..tks Vad
01[09:40] {&Threei} Long Setup:  C  .05 break
01[09:41] {&Threei}  If holds  .95
[09:41] {ese} L armh .81
[09:41] {dino} swi drop
01[09:41] {&Threei}  GDX, what the deuce
01[09:42] {&Threei}  did you have to rinse second half?
[09:42] {ese} out .80 -.01
[09:42] {ese} spyders tanked
[09:42] {cipher} SWI S .04
[09:42] {cipher} cov .67
[09:42] {nemo} you call that a "tanked"?  Oy vay, this is a bull market
[09:42] {cipher} thx dino
[09:43] {dino} sm l .65 swi
[09:43] {ese} a you know load of euphoria goin on here................i smell a 10% correction one of these days
[09:45] {nemo} one of these days....the earth ends
01[09:45] {&Threei}  trail to .99
01[09:45] {&Threei}  nervous market
[09:46] {thomcbell} trying to gun kors - this usu fails
[09:46] {dino} lol nemo, but true
[09:46] {nemo} was, talking to the boss...trying to get him to punch humanity's ticket now
01[09:47] {&Threei}  10% correction is very easy to organize: Ben comes out saying "we stop bond purchases"
01[09:47] {&Threei}  boom, we are donw 10% in one day
01[09:47] {&Threei}  1:1
[09:48] {dino} vmrn spoike
[09:49] {ese} man...theres no where to get in on anything
[09:49] {dino} bmrn sm s .00
[09:49] {dino} cov .16, +.84
01[09:50] {&Threei}  Orlando man linked to Boston suspect Tamerlan Tsarnaev is killed by FBI agent after questioning; man tried to attack agent
[09:50] {dino} good save us some $
[09:51] {RonS} whadya mean the FBI guy will go on emotional disability for the next 40 years...
[09:52] {dino} lol, i'd give him an extra week vaca
01[09:52] {&Threei}  lol
[09:53] {nemo} gap fill rcl
01[09:53] {&Threei}  {FBI agent} (still not holstering the gun) who else can I question today...
[09:54] {RonS} IRS agent "who needs gun"
01[09:55] {&Threei}  {taxpayer caught between the two} Oy...
[09:55] {RonS} TPX blood
[09:56] {cipher} arex l .69
[09:57] {cipher} out .83
01[09:58] {&Threei}  my forecast: while Ben will give a nod toward a notion that pyrchaes might be tapered in some foreseeable future, he will do his damnest best to dance around it in a soothing "not just yet" way
[09:58] {RonS} synopsis then?...clambake...
01[09:59] {&Threei}  *(US) APR EXISTING HOME SALES: 4.97M V 4.99ME
01[09:59] {&Threei}  C 1:2
[10:00] {dptl} out c ty
[10:00] {nemo} here's 100 iwm and 168 spy
[10:00] {robbers} out half of C .
01[10:00] {&Threei}  (US) Fed Chairman Bernanke: Fed has made it clear that it is prepared to either increase or reduce the pace of asset purchases - Congressional testimony on Economic Outlook
01[10:00] {&Threei}  lol
[10:01] {Will49} what a waste of good hot air
01[10:01] {&Threei}  market loved it
[10:01] {robbers} Out C, thanks again, Vad.
[10:01] {Will49} market loves everything
01[10:01] {&Threei}  "they may throw in even more!!!"
01[10:01] {&Threei}  yw robbers
[10:01] {jdetente} market's reaction
01[10:02] {&Threei}  - Fiscal policy continues to exert a substantial drag on the US economy
01[10:02] {&Threei}  you are a drag, Ben
[10:02] {Will49} out C tks Vad
01[10:03] {&Threei}  - Reiterates that the pace of asset purchases could be changed based on economic conditions. - Monetary policy cannot offset the drag on the economy from fiscal policy. - Longer-term inflation expectations are still stable, inflation to be at or below 2% for the next few years. - Housing market has strengthened over the last 12 months.
01[10:03] {&Threei}  1:3
01[10:03] {&Threei}  out
01[10:03] {&Threei}  yw guys
[10:03] {robbers} Nice trade, Will.
[10:03] {jdetente} thanks Vad
[10:03] {Will49} tks
[10:03] {cipher} tpx l .20
[10:03] {Will49} just followin" the boss
01[10:03] {&Threei}  :)
[10:03] {ese} nice one will........your buying the booze
[10:03] {cipher} out tpx.49 +.29
[10:04] {Will49} crap!
01[10:04] {&Threei}  lol
[10:04] {Will49} should keep my results to myself:)
[10:07] {Will49} sheeesh...even the PMs loved Ben's stuff
[10:07] {cipher} tpx l .50
01[10:07] {&Threei}  who doesn't like the promise of free money
01[10:08] {&Threei}  (except for the one who is going to pay for it)
[10:08] {Will49} that's us
[10:08] {Will49} right suckers!!!!
01[10:08] {&Threei} Long Setup:  TZA  .80 break
01[10:09] {&Threei}  If holds  .75
[10:09] {dptl} out
01[10:09] {&Threei}  not yet
[10:09] {nemo} not until iwm gets to .28
[10:10] {dino} bto swi calls 1.70
[10:11] {nemo} miners very strong
[10:12] {jdetente} early on C dang
01[10:14] {&Threei} Long Setup:  TZA  .60 break
01[10:14] {&Threei}  If holds  .55
[10:16] {cipher} tpx s .45
01[10:16] {&Threei}  1:1
[10:17] {Les} gm what we in?
01[10:18] {&Threei}  late anyway
[10:18] {Les} k
[10:18] {Les} got a note from the doctor
[10:19] {Les} TZA .70 break?
01[10:19] {&Threei}  we are in from .60
[10:19] {nemo} oh, I thought you had entered that contest?
[10:19] {cipher} cov tpx .28
[10:19] {thomcbell} wow prlb
[10:19] {thomcbell} nasty
[10:26] {Les} noticed JPM challengin 2007 highs here
[10:26] {Les} broke the high today, wonder if it can hold it
[10:28] {dptl} out balance tza
[10:28] {dino} 07 fast green
[10:28] {+cc_9} whoa SPY
[10:28] {+cc_9} where is this money coming from
01[10:29] {&Threei}  (US) Fed's Bernanke: Reiterates the Fed could or could not sell assets, will provide more information on exit strategy going forward over time - Q&A- Reiterates could normalize policy simply by letting assets 'roll off'
[10:30] {Will49} good guess Vad
[10:30] {nemo} well, that's not entirely true
[10:30] {nemo} if you continue purchase as they roll off, you don't shrink the balance sheet
01[10:30] {&Threei}  lettting them roll-off? questionable idea considering rates going up at some point
[10:31] {dino} stc swi calls 2.25, +.55/32%
[10:31] {Les} half out
01[10:31] {&Threei}  no nemo, he means letting them roll-off instead of selling them
01[10:31] {&Threei}  as alternative exit strategy
[10:31] {robbers} Out TZA, nice call.
[10:32] {thomcbell} vxx bounced well
01[10:32] {&Threei}  he is talking about what to do with what they already bought, separately frpm continuous buying
[10:33] {dino} tlt ddrop
[10:33] {dptl} VLO .40 short/
[10:33] {dptl} ?
[10:33] {dptl} ah..late
01[10:34] {&Threei}  yeah vut I have dewfinitive answer for you: YES
[10:34] {Les} out tza 1:2
01[10:34] {&Threei}  wow
01[10:34] {&Threei}  gold and miners are all the way back
[10:35] {dptl} rinsed second half TZA
[10:35] {backman} TZA went nuts
01[10:35] {&Threei}  how terribly disappointing
[10:35] {dino} 07 red
[10:35] {backman} :=)...greenest morning i've had in while
[10:35] {nemo} VXX screaming
[10:35] {dino} bman, just jinxed yourself...:)
[10:36] {nemo} the bears are mounting the bulls
01[10:36] {&Threei}  profit preservation procedure kicks in
01[10:36] {&Threei}  nemo... always with those visuals
[10:37] {nemo} they won't be able to push too hard, still in too much pain ;-)
[10:37] {jdetente} lol
[10:37] {dino} lol
[10:37] {robbers} LOL
[10:37] {nemo} think Pulp Fiction and the Gimp
[10:37] {jdetente} yikes
[10:37] {jdetente} not cool man
[10:38] {nemo} Nature is unkind
[10:38] {nemo} the key to life is sufficient lubricant
[10:38] {jdetente} wowzas
[10:38] {jdetente} lol
[10:38] {Les} damn JPM didn't have courtesy to bounce before crashing
[10:38] {Will49} can see why you're a single guy nemo
[10:39] {nemo} I get bored...they get sober
01[10:39] {&Threei}  it's been a good while since bears were able to swat back like this
[10:39] {Les} try women from time to time Nemo
[10:40] {cipher} wprt l .39
[10:40] {nemo} ahhh Les...thought you were here:
01[10:40] {&Threei}  - Urges less fiscal restraint, fiscal issues are creating headwinds for the economy
01[10:41] {&Threei}  oh boy... Ben, zip up, your leftism shows
[10:41] {Les} the penis joke fallback huh...
[10:41] {RonS} restraint?...unreal...
[10:41] {Will49} is the fool still talking?
[10:41] {cipher} tpx s .05
[10:42] {Les} quick dollar drop from spy
01[10:42] {&Threei}  don't know about fool, but idiot is
[10:42] {nemo} been watching that cipher watch that .75ish level
[10:42] {cipher} cov tpx .83 +.22
[10:42] {Les} JPJ .50 break down holding .60?
[10:42] {Les} JPM
01[10:43] {&Threei}  yes, hl
[10:44] {Les} juices are flowing in L2
01[10:44] {&Threei}  - Inflation may be a bit too low
01[10:44] {&Threei}  see will? this is beyond simple fool
[10:44] {Will49}'re right
[10:44] {Les} hardcore ideologue
[10:44] {Les} get that inflation going
[10:44] {Will49} sophisticated fool
01[10:45] {&Threei}  you know what's worse than a fool?
[10:45] {Will49} ?
[10:45] {Will49} Les?
01[10:45] {&Threei}  fool with initiative
[10:45] {Les} taking a leaf from Japanese book, after advising them of same policy advice
[10:45] {Les} cute will
[10:45] {Les} 1:1 jpm
[10:45] {Will49} what would we do without you Les?
[10:46] {Les} sit and suffer Vad's jokes in silence
[10:46] {Will49} oooops
[10:46] {Les} jpm 1:2 all out
[10:46] {Les} ty vad
[10:46] {Will49} good call Les
[10:46] {cipher} SHLD L .73
01[10:47] {&Threei}  :)
[10:47] {Les} tna long .90?
[10:47] {dino} i still think race to de-value. no way he wants to raise w/yen and euro weakening
[10:47] {Les} potential higher low?
[10:47] {Les} spy looking like DB
01[10:47] {&Threei}  I am not jazzed about this Les
[10:47] {Les} k
01[10:48] {&Threei}  more likely breakdown and new low
[10:48] {Les} market is getting emotional
[10:48] {thomcbell} today was feeling capitulative on intermediate level
[10:48] {thomcbell} but its early
[10:48] {nemo} volume tpx
[10:49] {cipher} tpx l .79
[10:50] {dino} swi sm l .49
[10:50] {thomcbell} lvs short setup 60 break if holding 60.10
[10:51] {thomcbell} volume not perfect but......
[10:51] {thomcbell} looking bear flaggish
[10:51] {ese} L swi .45
01[10:51] {&Threei}  GLD is red
[10:51] {RonS} infi looking to test recent lows...
01[10:52] {&Threei}  can you believe it?
[10:52] {ese} dino....just noticed your L swi.................great minds
[10:53] {Les} new lows yen and aussie dollar
[10:53] {Les} dollar ain't dead yet
[10:54] {nemo} ntap
[10:56] {dino} ugh! power disruptions
[10:58] {ese} L swi avg .50
[10:58] {cipher} msft l .44
[10:59] {nemo} ntap going lower
[11:00] {dptl} BTU .10 short?
[11:00] {nemo} nope not yet
[11:00] {thomcbell} lvs invalidated
[11:03] {cipher} BIDU L .12
[11:03] {cipher} MEOH L .81
[11:04] {ese} dino......? you ever get a short cover read before you buy value like swi
[11:04] {Les} pull yer trading chart ntap out to 3 min, repeated same trick from 9:50
[11:04] {nemo} ntap coming in to re-short area
[11:05] {dino} ese, not sure i understand your q?
[11:05] {nemo} we didn't either dino
[11:05] {dino} i like to short spikes and buy capits, ese, thats my edge.
[11:06] {nemo} capice?
[11:06] {ese} days to cover before buying something like swi to give you an idea of how strong the short covering could be
[11:06] {dino} no, never
01[11:06] {&Threei}  ese... that information is twice a month
[11:06] {_babyheart} gld very volatile today
01[11:06] {&Threei}  it's not real time
[11:06] {dino} k.i.s.s. rule
[11:06] {ese} tks
[11:06] {ese} ya i know.........just wondering
[11:07] {dino} np buddy. i am very basic in my indicators
[11:07] {dino} less is more
[11:09] {ese} this one has a day and a 1/2 to cover.....should give some shorts a small scare
[11:09] {dino} well, wouldn't shorts be happy w/the drop?
[11:10] {ese} yup.....until this reverses
[11:11] {dino} i imagine most that were in yesterday are covered by now, -5 pts
[11:11] {cipher} out BIDU .55 +.43
[11:11] {dino} gj
[11:11] {ese} ya thats a good point as well
[11:11] {dino} so, imo, that info is worthless
[11:12] {Les} here comes uncle buck
[11:12] {dino} therefore i do not watch it
[11:12] {ese} equally good point
[11:13] {dino} *worthless for my style. might work for others'
[11:14] {cipher} out FISV .56 +.23
[11:14] {Les}
[11:14] {ese} just me wondering eh............when I see you post I give it the skew eyed look and say to myself......."hmmmmmmmmm whats he up to this time"
[11:14] {Les} great to see this guy showing EU polis for bunch of asses they are when it comes to tax witch hunts
[11:15] {dino} lol, ese
[11:16] {cipher} INFI drop
[11:17] {nemo} mjn short setting up
[11:17] {cipher} out MSFT .65 +.21
[11:18] {cipher} INFI L .22
[11:18] {ese} nice C.....i have never been able to make any money with microsoft
[11:18] {ese} snails move faster than that thing
[11:19] {dino} same here
[11:21] {dino} cipher, we froze swi
01[11:22] {&Threei} Short Setup: GDX  .80 break
[11:22] {cipher} MDCO dropping
[11:22] {dptl} its at .78
01[11:22] {&Threei}  crap
01[11:22] {&Threei}  wrong symbol
01[11:22] {&Threei}  SLW
[11:22] {ese} B Bands are so narrow on SWI they could choke a worm
[11:23] {cipher} MDCO L .32
01[11:23] {&Threei} Short Setup: SLW  .80 break
01[11:23] {&Threei}  If holds  .90
01[11:23] {&Threei}  too many stocks
01[11:23] {&Threei}  too many letters
[11:23] {Les} take yer pills
[11:24] {Alexs} they move the same way. doesn't matter
01[11:24] {&Threei}  lol
[11:25] {cipher} stopped MDCO -.08
[11:26] {dino} whats w/mdco last 2 days? no news
[11:26] {backman} would u consider aggressive entry  ie break of .85 for SLW?
01[11:26] {&Threei}  with .91 stop, why not
[11:26] {dptl} ye i am in
01[11:27] {&Threei}  don't see anything either, dino
01[11:28] {&Threei}  meh
[11:29] {dptl} stopped
[11:29] {backman} me 2
[11:29] {cipher} mdco l .50
[11:29] {cipher} out .68
[11:29] {dptl} BTU .10 short?
[11:30] {dino} sm l .50 mdco
[11:30] {Will49} That's me for today!
[11:30] {Will49} Trip over to Port Angeles
[11:30] {dino} out .85, +.35
[11:30] {cipher} nice dino you nailed it
[11:30] {Will49} see you all Friday
[11:31] {Les} cheers will
[11:32] {dino} swi stop .29, -.20
[11:32] {dino} cya will
[11:35] {ese} swi stopped .28 -.22
[11:35] {ese} bastard
[11:36] {ese} cya will
01[11:37] {&Threei}  have fun will
01[11:38] {&Threei}  so the story I promised
[11:38] {cipher} MDCO L .90
01[11:38] {&Threei}  guest comes for a few days, we take her out for a stroll yesterday evening,
01[11:38] {&Threei}  showers just ended, sun is peeking through,
01[11:39] {&Threei}  I park, we come out of the car, I say:
01[11:39] {&Threei}  look that way, next min or two rainbow should appears
01[11:39] {&Threei}  sure enough, rainbow makes the appearance, guest says "wow, how do you know"
01[11:40] {&Threei}  I open my mouth to say some bs with important look,
01[11:40] {&Threei}  and huge whale jumps out of the water, with ranbow as a backdrop
01[11:40] {&Threei}  Our guest couldn't speak for half an hor after that
[11:41] {dptl} lol
01[11:41] {&Threei}  and the kicker? I didn't have my camera with me
01[11:41] {&Threei}  still can't forgive myself
[11:41] {cipher} out MDCO .00 +.10
[11:41] {Les} nice
[11:42] {cipher} AMBC L .70
[11:42] {Les} pity you didn't carelessly mention that whales are common this time of year...
01[11:42] {&Threei}  not a killer whale, either grey or pilot
[11:43] {ese} L kors .18
01[11:44] {&Threei}  next hour, bald eagle, two herons and a seal made an appearance... nature just decided to kill her, pouring all at once
[11:45] {Les} can see here screaming for the familiar metro and a hair salon...:)
[11:45] {cipher} mdco l .91
[11:45] {nemo} ccl
[11:45] {dino} ambc sm l .83
[11:45] {Alexs} may be u were walking in a zoo?
01[11:45] {&Threei}  this whole island is a zoo, Alex :)
[11:46] {Les} Vad fits right in
[11:46] {Alexs} lol
01[11:46] {&Threei}  too many humans for my taste
[11:47] {dptl} didt work BTU
[11:49] {cipher} MDCO short squeeze imo
[11:52] {cipher} out MDCO .37 +.46
[11:53] {dino} gj
[11:54] {cipher} out AMBC flat
[11:54] {cipher} ty
[11:57] {Les} GLD gettnging heavy again
01[11:59] {&Threei} Short Setup: GLD  133 break hl
01[11:59] {&Threei}  If holds  .15
01[12:01] {&Threei}  stop to .10
[12:02] {jdetente} touched 1:1 didn''t it?
01[12:02] {&Threei}  couple cents off... I consider .85 1:1 for this trade
01[12:02] {&Threei}  1:1
01[12:02] {&Threei}  b y the book now
01[12:02] {&Threei}  target 1:3
01[12:03] {&Threei}  1:2
01[12:03] {&Threei}  nice and easy
[12:03] {Alexs} nice call
[12:03] {backman} would you use .15 stop on GLD given your 1:1?
[12:04] {dptl} got 1:1 ty
01[12:04] {&Threei}  [11:59] {&Threei} If holds .15
01[12:04] {&Threei}  I did
01[12:04] {&Threei}  and derived 1:1 from that, not the other way around
[12:05] {backman} thanx....gotcha
01[12:05] {&Threei}  klogic goes from risk:
01[12:05] {&Threei}  chart dicates size of the stop, reward is calculated from that
[12:08] {cipher} chtr l .81
01[12:09] {&Threei}  1:3
01[12:09] {&Threei}  out
01[12:09] {&Threei}  happy
[12:10] {Les} nice. missed it. boss came home
[12:11] {Les} might plunge to .25 LoD
[12:11] {Les} consider long setup if the case?
[12:13] {Les} .50 was it
[12:14] {cipher} out CHTR .19 +.38
[12:18] {dino} swi drop
[12:21] {dino} vips working to 33.15 gap
[12:25] {cipher} SBAC dropping
[12:25] {ese} out kors .52 +.34
[12:26] {cipher} NTES L .43
[12:26] {ese} and dn swi goes
[12:27] {ese} hense the stop loss concept
[12:30] {dino} indeed
[12:30] {dino} looking at june calls on it again
[12:33] {Les} JPM .50
[12:34] {cipher} ntes stopped .38 -.05
[12:34] {Les} I hesitatie to short it here
[12:36] {Les} TNA /IWM at support
[12:36] {Les} .50 long potential
[12:36] {Les} in holding .42 small
[12:38] {Les} half out the door
[12:39] {Les} airborne YEEEEhAAAA
[12:41] {dptl} have to leave early again.....see ya tomorrow all
01[12:41] {&Threei}  take care dp
[12:42] {Les} cheers
[12:48] {cipher} ANSS L .95
[12:52] {dino} cya dp
[12:55] {thomcbell} long setup splk 45.92 break if holding 45.82
[12:57] {cipher} anss stopped -.10
[12:57] {ese} L kors.47 ......damn,,,lousy fill
[13:01] {cipher} NTES L .24
[13:02] {cipher} ANSS S .78
[13:03] {Les} gld spike down
[13:04] {Les} looking at slw .95 /.05 for setup but can't tell direction here
01[13:04] {&Threei}  my inclination is down
[13:04] {Les} GLD keeps dropping
[13:05] {Les} take the steup?
[13:05] {Les} setu`?
[13:06] {Les} setup...
01[13:06] {&Threei}  I think so, GFX suppoprts too
[13:06] {Les} :)
01[13:06] {&Threei}  GDX
[13:06] {Les} I speak Vad now
[13:07] {Les} think I'll pass here
[13:07] {Les} see if we can get to LoD and break it
01[13:07] {&Threei}  it's easy - hit neighoring buttons instead of right pnes
[13:08] {Les} consequence of watching screens while typing furiosly
01[13:08] {&Threei}  plus, typing with your knees,
01[13:08] {&Threei}  having fins instead of arms,
[13:08] {Les} hmmmm
01[13:08] {&Threei}  a=sheesh, Alex is right, I belong to a zoo
[13:10] {cipher} cov ANSS .60 +.18
[13:13] {Alexs} tza .30 long?
[13:15] {dino} ty cipher out ambc .13, +.30
[13:15] {cipher} np
[13:17] {cipher} mygn drop
01[13:17] {&Threei}  sorry alex, wasn't really sure
01[13:17] {&Threei}  andf then it's gone
[13:18] {Les} hmmm new tna entry?
[13:18] {cipher} mygn l.99
[13:18] {dino} sm l. 35
[13:18] {Les} in small holding .,02
[13:19] {cipher} out mygn .39 +.40
01[13:19] {&Threei}  nice
[13:19] {Les} stopped
[13:20] {dino} gj
[13:21] {nemo} could make argument for tna long above 51 if it holds here
[13:21] {cipher} josb l .75
[13:22] {ese} gotta still hanging onto kors....will see what happens end of day
01[13:23] {&Threei}  take care ese
[13:23] {dino} cya
[13:25] {dino} txi drop
[13:26] {cipher} CTXS S .00
[13:26] {cipher} cov .90
[13:29] {dino} 07 red
[13:29] {dino} ty cipher, out mygn .59, +.24
01[13:29] {&Threei}  strongly feels to me like selloff is coming
01[13:29] {&Threei}  with panic
[13:29] {dino} same vad
[13:30] {dino} scanner picking up steam in red
01[13:30] {&Threei}  SPY swings are inkredible today
[13:30] {jdetente} and the bull mounting continues
[13:31] {dino} lol
01[13:32] {&Threei}  bears used to opassing around vaseline start thinking of passing around condoms
[13:32] {nemo} bounce area
[13:33] {Alexs} I see your zoo is something Vad
[13:34] {jdetente} adult zoo
[13:34] {jdetente} x rated
[13:35] {Les} this room has gone to the animals
[13:35] {cipher} ANSS L .97
[13:35] {cipher} CTXS L.83
01[13:35] {&Threei}  well alex, what did you expect? I have friends like nemo, neighbours like ese and will, guests who never come without bottle of Russian Standard in hand like dp...
[13:36] {~KSystems} *burp*
01[13:37] {&Threei}  watching GDX fopr short setup
[13:39] {Alexs} just don't stroll your guest today yesterday's experience enough
01[13:39] {&Threei}  well, she is here for three days only, so gotta show her maximum possible :)
[13:40] {Alexs} lol
01[13:40] {&Threei}  feeding peacocks from hand is in today's program... and whatever surroundigns send us on top of that
[13:40] {dino} whx drop
[13:41] {dino} sm l .67
[13:44] {nemo} another potential bounce area for the indexes here
[13:46] {jdetente} bears will not be denied at these levels
[13:46] {nemo} and as soon as they think that...
[13:46] {jdetente} meaning that bounce area
01[13:46] {&Threei}  here comes panic
01[13:46] {&Threei}  but we have FOMC minutes at 2
01[13:47] {&Threei}  keeps me hesitant
01[13:47] {&Threei}  market is too eager to react on every word
[13:51] {thomcbell} small long splk
[13:51] {thomcbell} looking for vadish setup as well
[13:52] {dino} whx to .79
[13:52] {Alexs} tza looks ready for the next run
[13:52] {Les} looking for DB here
[13:54] {+cc_9} TNA anyone tempted ?
01[13:55] {&Threei}  not me
[13:55] {thomcbell} splk - 45.12 break if hlding 45
01[13:55] {&Threei}  unless FOMC minutes change the mood, more selling is in cards
[13:55] {dino} chuy drop
[13:59] {thomcbell} splk 1:1
01[14:00] {&Threei}  - Open to reduction in bond purchases at June meeting if there was evidence of strong and sustained growth
01[14:02] {&Threei}  discussions were had to determine conditions necessary to wind down QE3
01[14:02] {&Threei}  uh
01[14:02] {&Threei}  oh
01[14:02] {&Threei}  said market
01[14:02] {&Threei}  and fainted
01[14:02] {&Threei}  and dropped
[14:02] {dino} out whx .89, +.22
01[14:03] {&Threei}  I am so dead, said gold
01[14:03] {&Threei}  we will die together, said miners
[14:03] {Alexs} lol
[14:03] {+cc_9} death, death everywhere
[14:05] {+cc_9} VXX not even moving
01[14:07] {&Threei}  what about me, asked silver
[14:07] {_babyheart} the market needs a breather.. we need a sell off
01[14:07] {&Threei}  you are going with us, reassured gold and miners
[14:07] {Alexs} Ben should be shown in a museum next to the missilles of mass destruction
[14:07] {_babyheart} get your short list ready
[14:08] {+cc_9} You fools, the market only goes up, its basic physics.
[14:09] {Les} noticed FDX offering nice DT in daily as a lower high too
01[14:09] {&Threei}  lol cc9
[14:10] {dino} so far its buy the dips
01[14:10] {&Threei}  130.50, critical GLD sipport is frighteningly close
[14:10] {dino} s/p 165.22 target
[14:10] {Les} I guess this must be a Fed conspiracy too
[14:10] {dino} spy i mean
01[14:11] {&Threei}  everything is Les
[14:11] {Les} understand why my old man goes with Jesus. Makes life so much more comforting
01[14:11] {&Threei}  British PM Cameron to call emergency meeting after man is killed in suspected terror attack in London
[14:11] {_babyheart} short everything... hehehe
[14:12] {+cc_9} IWM killing itself ahead of the SPY
01[14:12] {&Threei}  except inverse ETFs please
01[14:13] {&Threei}  (US) PIMCO's Gross: Bond markets are priced for a reduction in QE; could see some tapering starting at Sept FOMC meeting- Fed did not addresss the bond supply issues; Fed is having technical problems with the bond market. - Most overvaued asset class Treasury and JGB, calls stock market frothy.
[14:16] {Les} dino, question
[14:16] {Les} do you have bids placed in at levels you wanna buy on these fast movers?
[14:17] {Les} pre-placed bids?
[14:18] {dino} not usually les, they tend to go thru levels fast
[14:18] {Les} ah ok
[14:18] {dino} some times times i use buy stops or short stops to enter
[14:19] {+cc_9} joke's on you guys, market closing green today
[14:19] {+cc_9} never doubt the power of reptiles named Shlomo
[14:19] {+cc_9} (wait for the reaction, it will be delicious)
[14:19] {Les} learning with TNA on paper and realised I need to have bid placed in at the levels otherwise too late
[14:20] {dino} tna thicker, should not break thru as much imo
[14:20] {Les} yeh I understand the difference with your stocks
[14:22] {+cc_9} SPY vol on 2min has not yet slowed down below 1M/shares yet
[14:23] {Les} RUT futures nice topping signal
[14:24] {dino} prlb drop
[14:27] {dino} air pocket
[14:27] {_babyheart} terror news on cnbc
[14:28] {Les} ain't it always so...
[14:29] {nemo} bounce here
[14:30] {+cc_9} Russell decimated
[14:30] {+cc_9} fresh lows
[14:30] {+cc_9} leading the drop ahead of other indices
01[14:31] {&Threei} Short Setup: GDX  .30 breal
[14:31] {nemo} yeah, they popped 100
01[14:31] {&Threei}  If holds  .40
[14:33] {+cc_9} need 166.60 on SPY before any "bounce" confirmation
[14:33] {+cc_9} also, we have to wait for all of StockTwits to let us know they are either long or short first.
[14:35] {_babyheart} looks like this is the beginning of the sell off everyone is waiting for....
[14:36] {+cc_9} whoa
[14:36] {_babyheart} just short short short
[14:37] {nemo} Weekly pivot 165.60 spy and 67.70 FAS
[14:37] {nemo} SPY gap a65.30ish to 165.70ish
[14:37] {+cc_9} every single green bar on SPY was a pause before more death
[14:37] {+cc_9} volume has not slowed either
[14:38] {nemo} frickin' melodramatic aren't we...
06[14:38] * Les slaps Nemo for cutting into the running commentary
[14:39] {Les} the tape image of everyone trying to get out the door at the same time. fascinating stuff
[14:40] {nemo} it's kinda like opening fire with an automatic weapon in a movie theatre
[14:40] {Les} sigh
[14:40] {dino} we really aren't down much, not even 1%
[14:40] {Les} the image works though
[14:40] {nemo} Yeah, this is a riot
[14:40] {nemo} Don't worry, in this bull market, it'll be back to new highs by Friday
[14:41] {_babyheart} from todays high... thats a huge sell off
[14:41] {Les} wouldn't surprise me if this market floats back to the top like a submerged corpse, but fun to watch the panic button hit
[14:41] {+cc_9} dino, you are right, but people are looking at the selloff from the session highs
[14:41] {_babyheart} a reversal candle stick on daily chart
[14:41] {+cc_9} which on the DOW comes up to over 200 points
[14:41] {dino} swi holds well thru this, going to add calls before close for swing
[14:42] {_babyheart} maybe all the retailers bought already...
[14:42] {Les} they're level of ownership is pretty low
[14:42] {Les} their
[14:43] {+cc_9} once stop losses get eaten, they will send it back up for another frenzy
[14:43] {dino} typical on bernie speech days
[14:44] {+cc_9} if they want more volume and to get stuckies back, they need 1 more bounce, near 167 then flush it back
01[14:45] {&Threei}  no go
[14:45] {Les} what was the setup?
01[14:46] {&Threei}  ?
[14:46] {Les} no go
[14:46] {Les} meaning?
01[14:46] {&Threei}  [14:31] {&Threei} Short Setup: GDX .30 break
[14:46] {Les} k
01[14:47] {&Threei}  do you have this scroll up utton?? :)
[14:47] {Les} yeh I did
[14:47] {Les} looked back ten minutes and then shrugged
[14:47] {Les} you know I've got memory of a goldfish
01[14:47] {&Threei}  use #floor
[14:47] {+cc_9} I am a goldfish and i find that comment raciss
01[14:47] {&Threei}  less scrolling
[14:47] {Les} oh, there it is
[14:48] {Les} A carp then
01[14:48] {&Threei}  and what kind of attitude is it... I am tired of scrolling, so I'll make someone else work {G}
[14:48] {+cc_9} sole*
[14:48] {+cc_9} IWM needs to play catch up here
[14:48] {Les} learnt from the best
[14:53] {+cc_9} "WizdomSeeker May. 22 at 2:52 PM $SPY Short all your money now, no joke look at that spikey line! couldn't be more obvious we already reached top...."
[14:53] {+cc_9} some late afternoon humor
[14:53] {+cc_9} Vad, can you help us setup the spikey line indicator when you have time
01[14:55] {&Threei}  spikey line?
01[14:56] {&Threei}  that's real wisdom he is seeking
[14:56] {Les} what is that cc? A tweet?
[14:56] {+cc_9} StockTwit daily cancer dose
01[14:57] {&Threei}  suicidal guys
[14:57] {+cc_9} IWM trying to catch up a bid ahead of the SPY finally
01[14:57] {&Threei}  I am watching them committing suicide for years already
[14:57] {dino} infi sm l .90
[14:57] {Les} silver futures red gold green definitely not risk on for metals
[14:59] {dino} miners up tho, gdx, slw, fcx, clf
[14:59] {Les} yeh big guns betting on the miners apparently
[15:00] {+cc_9} dino, add ABX to that list.
01[15:06] {&Threei}  I don't know if they can be too happy about being barely in green, after being up that much earlier
01[15:07] {&Threei}  GLD is teetering on the verge of losing major support and collapsing
01[15:07] {&Threei}  which will send miners down too
01[15:07] {&Threei}  and the very fact that their earlier gains could be swatted away that easy is not encouraging at all
[15:09] {dino} just saying miners holding. copper is up, its a metal
[15:10] {dino} copper is more of an economic tell imo
01[15:11] {&Threei}  much more than gold or silver, that's for sure :)
[15:11] {Les} yeh watching that one as it tried to break .40 in futures. will see if it was bull trap
01[15:12] {&Threei}  one chart I derive pure pleasure from is canadian buck
01[15:12] {&Threei}  down full cent today
[15:13] {dino} lol, and i hate to see the dollar rise
[15:13] {Les} tna inverted cup and handle
01[15:14] {&Threei} Short Setup: GLD  .50 break hl
01[15:14] {&Threei}  If holds  .60
[15:16] {Les} forgot that tza exists. cup and handle pays 1:1
[15:17] {jdetente} no joy GLD
01[15:18] {&Threei}  lol
[15:19] {Les} good one
[15:19] {dino} infi to b/e
[15:19] {_babyheart} market selling off hard
01[15:19] {&Threei}  we only play it twice a day Les, how can you remember...
[15:20] {_babyheart} short everything iguess. :}
[15:20] {Les} I don't
[15:20] {Les} but I appreciate a funny wag like that
[15:22] {dino} out infi .98, +.08
[15:23] {+cc_9} just straight dumping...yawn
[15:24] {_babyheart} this is what it looks like wehn almost 90 percent of the analyst on cnbc are bulls
[15:25] {dino} back in 15 min
[15:26] {+cc_9} dumping now accelerating
[15:27] {_babyheart} analyst on the cncbcsaids to buy the pullback
01[15:28] {&Threei}  [13:55] {&Threei} unless FOMC minutes change the mood, more selling is in cards
[15:28] {thomcbell} yy
01[15:30] {&Threei}  Chatter circulating that recent weakness in equities is as a result of a 'sell program' initiated when S&P index yield reached 10 year note yield
01[15:30] {&Threei}  heh
01[15:30] {&Threei}  everyone needs a back story
[15:30] {Les} those damn pesky algo traders
[15:30] {nemo} I thought it was the chickens
01[15:33] {&Threei}  volume is up sharply today
[15:44] {+cc_9} baby bounce, no thanks
[15:44] {dino} buy the dips baby....down day or two then back up imo
[15:45] {dino} 3% target
[15:46] {+cc_9} SPY closing price : any takers ?
[15:46] {+cc_9} cc_9 guess : 166.66 for more devil signs
[15:47] {dino} 1652.27
[15:47] {dino} 165.227
01[15:49] {&Threei}  OK guys, very decent day
01[15:49] {&Threei}  thank you all, have a good evening
01[15:49] {&Threei}  see you tomorrow
[15:49] {thomcbell} gn
[15:49] {Les} cheers
[15:49] {dino} indeed, thx all and gn. tee time in 40
[15:50] {jdetente} see ya tomorrow