Wednesday, June 12, 2013

June 12 2013

Still a slow day but better than yesterday, and more profitable too. Several 1:2 trades helped to move up from pure scalping.

Session Time: Wed Jun 12 00:00:01 2013

[09:05] {dino} gm
[09:05] {cipher} gm
01[09:07] {&Threei}  morning dino, cipher :)
[09:11] {dptl} gm
01[09:11] {&Threei}  dp :)
[09:13] {stevw} g'mornin
01[09:13] {&Threei}  stev :)
[09:16] {Will49} gm
01[09:17] {&Threei}  will :)
[09:17] {Alexs} gm
01[09:17] {&Threei}  alex :)
[09:21] {backman} gm
01[09:22] {&Threei}  bman :)
[09:23] {jdetente} morning
[09:23] {RonS} howdy
01[09:24] {&Threei}  jd, ron :)
01[09:24] {&Threei}  my kind of salad: http://goo.gl/3RMXi
01[09:25] {&Threei}  not sure what that green thing is doing in the middle
01[09:25] {&Threei}  but thankfully easy to remove
[09:25] {Will49} :)
[09:26] {Will49} hope there's some sizzle in the markets this morning
01[09:26] {&Threei}  FCX largish gap down
01[09:27] {&Threei}  in decently strong market
01[09:27] {&Threei}  incident in Indonesia
01[09:27] {&Threei}  in training facility, not mining operation
01[09:28] {&Threei}  not really fresh either, just an update on the state
[09:28] {dino} force majeure in indonesia mine, fcx
01[09:29] {&Threei}  watching for bounce
01[09:29] {&Threei}  GLD red, GDX barely green
[09:29] {dino} gap around 28.75
01[09:29] {&Threei}  guess what I am watvhing it for {G}
[09:30] {ese} morning
01[09:30] {&Threei}  ese :)
[09:30] {ese} just in time
01[09:30] {&Threei} Short Setup: GDX  .10 break
01[09:31] {&Threei}  If holds  .20
01[09:33] {&Threei}  let's trail to .16
01[09:33] {&Threei}  don't want to get caught in morning volatility
[09:34] {dino} out tlk from yesterday, ave .09, +.79
01[09:34] {&Threei}  wtg
01[09:35] {&Threei}  out
01[09:36] {&Threei} Long Setup:  FCX  .85 break
01[09:36] {&Threei}  If holds  .75
01[09:40] {&Threei}  stop to .79
01[09:41] {&Threei}  1:1
01[09:42] {&Threei} Short Setup: GDX  .30 break
01[09:43] {&Threei}  If holds  .37
01[09:44] {&Threei}  just a scalp, FCX...
01[09:47] {&Threei}  1:1 GDX
01[09:48] {&Threei} Long Setup:  IWM  98 break hl
01[09:49] {&Threei}  If holds  .90
01[09:49] {&Threei}  no go
[09:50] {jdetente} GDX needs a 2 x 4 to the head
[09:51] {stevw} GLD jumped
[09:51] {dino} dhi sm l .60
01[09:52] {&Threei} Long Setup:  CAT  .87 break hl
[09:53] {dino} ecom drop
01[09:54] {&Threei}  If holds  .77
01[09:56] {&Threei}  CAT, this one should be more than a scalp if triggers
01[09:56] {&Threei}  nice tension forms here
[09:57] {dino} iep sm l .90
01[09:58] {&Threei}  Invalidated
[09:59] {dino} out iep .24, +.34
[10:00] {dino} 07 red fast
01[10:01] {&Threei}  no news
[10:01] {Alexs} iwm was a rinse
[10:01] {dino} iep sm l .70
01[10:03] {&Threei}  FCX probably deserves a second shot, desirably on pullback
01[10:04] {&Threei} Long Setup:  FCX  .95 break
01[10:05] {&Threei}  change to .90
01[10:07] {&Threei}  stop .83
[10:09] {ese} out IRM .05 +.57
[10:09] {ese} 3/4
[10:10] {ese} decided to exit other 1/2 of yesterdays position
[10:11] {+cc_9} long SSO 78.96 for a reversal
01[10:11] {&Threei}  meh
[10:13] {jdetente} going to be a long day...breaking out the whiskey early hehe
[10:13] {ese} lol
01[10:14] {&Threei}  come on FCX
01[10:15] {&Threei}  this is just... indecent
[10:16] {jdetente} hate to say it but I put in a hard stop at .82... half out at .98
01[10:16] {&Threei} Short Setup: JPM  .50 break
01[10:16] {&Threei}  If holds  .60
01[10:16] {&Threei}  good for you, see if you can get 30 break
[10:17] {jdetente} taking full scalp...feels like that kinda day
01[10:17] {&Threei}  which was the idea from the beginning... to partial under 30 and wait for a break
[10:17] {jdetente} out
[10:17] {Will49} rule breaker:)
[10:18] {jdetente} guilty
01[10:18] {&Threei}  if you need an absolution, read 5 times 5th chapeter of Taoist Trader
[10:19] {jdetente} I'm always up for absolution...
[10:19] {jdetente} sometimes in trading too
[10:19] {Will49} that's not a brand of vodka jd
01[10:20] {&Threei}  lol
[10:20] {dino} out iep .13, +.43
[10:20] {jdetente} actually my new drink is Redemption Rye
01[10:20] {&Threei}  Invalidated  JPM
[10:20] {Will49} good ol Canadian standby=rye
[10:20] {jdetente} this one's American Rye (which I prefer)
[10:21] {Will49} of course
[10:21] {jdetente} I think it's 95% rye as opposed to the Canadian blends
[10:21] {Will49} knew you were a purist
[10:22] {+cc_9} SSO killing it
[10:22] {+cc_9} +$0.30
[10:23] {Will49} good call +cc
01[10:25] {&Threei} Long Setup:  IWM  .90 break
[10:25] {+cc_9} thx, screen shot }}} http://img526.imageshack.us/img526/3196/todayoe.jpg
01[10:25] {&Threei}  If holds  .80
[10:25] {backman} GDX??...break of .50?
01[10:26] {&Threei}  same idea as with FCX
01[10:26] {&Threei}  partial near 98 and wait for a break
01[10:26] {&Threei}  can't tell on GDX
01[10:29] {&Threei}  1:1 half out
01[10:30] {&Threei}  come on, don't be a scalp
01[10:31] {&Threei}  good boy
01[10:31] {&Threei}  now run forest, run
[10:33] {dino} eqix sm l ave .91
[10:34] {nemo} FAS amd SPY having trouble with vwap
01[10:34] {&Threei}  stop to .95
01[10:34] {&Threei}  trying to give last piece a little more breathing room
01[10:35] {&Threei}  in hope to get 1:3
[10:36] {dino} out eqix ave .27, +.36
01[10:36] {&Threei}  now break .10 and give us last spike
[10:38] {nemo} lulu
01[10:38] {&Threei}  get your tutu on?
[10:39] {nemo} mesodactyl Vad
01[10:39] {&Threei}  break already IWM
01[10:39] {&Threei}  it's so decisively reluctant
01[10:39] {&Threei}  oh well
01[10:39] {&Threei}  no such luck
01[10:39] {&Threei}  anyway, finally a decent one
[10:44] {Will49} decent=relative term
[10:44] {nemo} incest?
[10:44] {Will49} :)
01[10:45] {&Threei}  in the sea of scalps, 1:2 becomes a decent trade
[10:46] {nemo} falshing size on the bid lulu
01[10:46] {&Threei}  sure, you wouldn't give it a second look on a day when we have runners all around
[10:46] {Will49} guess that's what i meant
[10:46] {nemo} you talking to me?
01[10:47] {&Threei}  why would I do that if I have will?? {G}
01[10:56] {&Threei}  watching TZA for entry on pullback
01[10:59] {&Threei}  hmmm... maybe not, starts looking like reversal time
01[10:59] {&Threei} Long Setup:  TNA  .20 break
01[10:59] {&Threei}  If holds  .10
[10:59] {ese} I don't see nuthing i don't look at nuthing.....and I don't know nuthing today......I canna find nuthing to trade for me......
[11:01] {ese} I taught sumbooody tell me disss was a easy ehhhhhhh.......whaaaa issa da matter
[11:02] {RonS} sounds like ese got an injection of Deliverance on his visit to Tennessee...
[11:03] {jdetente} playing the banjo ese??
[11:03] {dino} lol
01[11:03] {&Threei}  wrong
[11:03] {ese} eh!!!!!! ron ehhhh!!!!   wahtsaaa fa mattaa foo you eh!!!!! whaa deee iever do fur you eeehhhhhh!
[11:04] {ese} lol
[11:04] {jdetente} http://1.bp.blogspot.com/-qp9LIpz9VIY/TuuGjC5LDfI/AAAAAAAAKZU/Nylx7spnPrQ/s1600/deliverance+banjo-boy-e1296452279364.jpg
[11:04] {RonS} the Cajuns have an excuse for such language...they're French
[11:04] {ese} what can i tell ya.................i like to laugh at my jokes
[11:05] {ese} I've got that album too.....it's fabulous
01[11:06] {&Threei}  ^%$#()^#
01[11:06] {&Threei}  SoMG
[11:07] {stevw} i like the .25 break on TNA and took it
[11:07] {jdetente} covered UVXY short from 73 + 1.00
[11:08] {ese} yo.....nice jd
[11:08] {jdetente} small shares but hey better than a kick in the head
[11:09] {ese} definitely.....i follow that etf but have never been able to play it properly
[11:09] {jdetente} did a reverse split this week 10:1
[11:09] {dino} ctq sm l .45
[11:10] {stevw} stopped
[11:12] {dino} wtg jd
[11:14] {Will49} jd...that's 2 broken rules already
[11:14] {Will49} you luck b^%$&**
[11:15] {Will49} just jealous
[11:15] {Will49} i grew up in a military family and can't bring myself to break ANY rules
[11:16] {Will49} so, I'm a perfect student for Vad:)
[11:16] {dino} xone drop
[11:20] {dino} iep sm l .63
[11:21] {dino} xone sm l .67
[11:22] {dino} out xone .00, +.33
[11:22] {RonS} lulu sm l .96
01[11:26] {&Threei} Long Setup:  FCX  .80 break
01[11:27] {&Threei}  If holds  .75
[11:28] {dino} out ctq .87, +.42
01[11:35] {&Threei}  half out
01[11:40] {&Threei}  anyone took it and still in?
[11:40] {Will49} yes
[11:40] {Alexs} just scalped
01[11:40] {&Threei}  stop .79
01[11:40] {&Threei}  partialed though Will?
[11:40] {Will49} yes
01[11:40] {&Threei}  ok...
01[11:41] {&Threei}  Alex doesn't take chances :)
01[11:41] {&Threei}  CAT *INCREASES DIVIDEND 15% TO $0.60 FROM $0.52
[11:41] {Will49} like you Vad..i'm always hoping
[11:42] {Alexs} don't have courage today :)
01[11:42] {&Threei}  careful will... nemo will bludgeon us both if suspects us of hoping
[11:43] {Will49} :)
01[11:43] {&Threei}  1/4 more out FCX
01[11:43] {&Threei}  this is rather good alex
01[11:43] {&Threei}  courageous traders rarely survive
01[11:43] {&Threei}  as saying goes...
01[11:44] {&Threei}  There are old pilots. There are bold pilots. There are no old bold pilots
[11:44] {Will49} lol
[11:44] {Alexs} lol
01[11:44] {&Threei}  and my favorite,
01[11:45] {&Threei}  tombstone ingraved: He was a brave trader
01[11:45] {&Threei}  engraved
01[11:46] {&Threei} Short Setup: LVS  .75 break
01[11:46] {&Threei}  If holds  .85
[11:47] {Will49} out on trail FCX  tks Vad
01[11:47] {&Threei}  yw
01[11:48] {&Threei}  Traders continue to position themselves in safer assets as QE tapering nervousness dulls risk appetite.
01[11:48] {&Threei}  1:1
[11:49] {dino} back in 30 or so
01[11:49] {&Threei}  we will be here dino
[11:51] {dino} thx
06[11:57] * &Threei trips LVS and pushes it from the cliff
[11:57] {jdetente} DOW falling into a black hole...lol
[11:58] {jdetente} I think you scared it yesterday Vad
01[11:58] {&Threei}  good
[11:58] {Alexs} you take full lot LVS now Vad?
01[11:58] {&Threei}  I like it when things fall
01[11:58] {&Threei}  on this last trade, yes
[11:59] {Alexs} i remember it was half lot always just tool it 1/2
[11:59] {Alexs} took
01[11:59] {&Threei}  1:2
01[11:59] {&Threei}  that's fine Alex, it's still a bit too volatile
01[12:00] {&Threei}  these days are significantly slower than usual, so I felt safer about taking full lot
01[12:00] {&Threei}  but there is always room for some discretion
[12:00] {Alexs} k
[12:01] {nemo} bpimce jere ;ole;u
[12:02] {nemo} bounce here likely
01[12:02] {&Threei}  you think?
01[12:02] {&Threei}  see this humpback guys? http://goo.gl/9FDBM
01[12:02] {&Threei}  exactly like the one I saw couple weeks ago off Sidney, told you about it back then
01[12:02] {&Threei}  haven't had my camera with me
[12:11] {Les} good evening
01[12:11] {&Threei}  hey les
[12:12] {Les} looks like market lower high from where I am
[12:12] {Les} volatility returned?
[12:12] {Les} or still slow as
01[12:12] {&Threei}  not fully back, but a bit better
01[12:13] {&Threei} Short Setup: LVS  .50 break
01[12:13] {&Threei}  If holds  .60
01[12:13] {&Threei}  at least enough to keep us positive and not as bored as yesterday
01[12:13] {&Threei}  vut still, most trades are scalps
01[12:13] {&Threei}  just two 1:2 ers
[12:14] {stevw} dammit, had LVS setup even before you mentioned it and then it blew right past me
01[12:14] {&Threei}  1:1
01[12:14] {&Threei}  anyone got it?
[12:15] {Alexs} yes ty
01[12:15] {&Threei}  :)
[12:15] {Will49} yes
[12:18] {stevw} taking C long at .35
[12:18] {backman} long FCX .82
[12:18] {+cc_9} Long SSO sub 78
[12:18] {+cc_9} 78.20 tgt aka SPY 162.40
[12:26] {backman} out .85....trades like it depends on GDX.....which feels toppy to me
01[12:26] {&Threei}  I agree, it lost the drive
01[12:27] {&Threei}  feels like a jellyfish hanging from the flsgpole in hot windless afternoon
[12:27] {Les} like GDX shoprt here
01[12:28] {&Threei}  .70 break
01[12:28] {&Threei}  ?
[12:28] {Les} yeh
01[12:29] {&Threei}  (GR) EU said to indicate that there is no chance for a new Greece debt haircut but other relief for Greece could be possible in 2014 - financial press- Reminder: on 6/11 EU's Rehn said it would also be premature to discuss more Greece debt relief at the moment, and Germany CDU party's Meister reiterated no new aid will be provided for Greece
01[12:29] {&Threei}  lol
01[12:29] {&Threei}  frikin bunch of imbeciles randomly diluted with liars
[12:29] {Les} not until September electoins are over anyway
01[12:30] {&Threei}  KS... give us an insight
01[12:30] {&Threei}  how does it look on the ground?
01[12:30] {&Threei}  he is asleep I guess
06[12:31] * &Threei slaps KSystems around a bit with a large election propaganda booklet
[12:32] {nemo} Alles gut in dem Vaterland
[12:38] {dino} .
[12:39] {stevw} stopped out of C
01[12:41] {&Threei}  B.C. is `in the risk zone' for mega-earthquake along the coast: study
01[12:41] {&Threei}  A new study says the Pacific coast has experienced 22 major earthquakes over the last 11,000 years, and is due for another.
01[12:41] {&Threei}  really? they needed a new study for that?
[12:43] {stevw} not sure how that adds anything to the same reports from 15 years ago
01[12:43] {&Threei}  key phrase that casn be decoded "fishing for a new grant":
01[12:43] {&Threei}  "Even though it could be tomorrow or perhaps even centuries before it occurs"
[12:44] {stevw} no offence, but if it happens soon, i'll rush in and buy some real estate at earthquake sale prices
[12:44] {+cc_9} SPY nearing tgt pps, scaling out SSO
[12:44] {+cc_9} wash rinse repeat : btfd
[12:45] {stevw} geez, C almost screwed me twice as it tempted me to go short after stopping out my long
[12:45] {ese} zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz cough.....gort .....zzzzzzzzzzz.......snet........gazip..........................ahhhhh hemm..........zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz
01[12:46] {&Threei}  stev, you underestimate our resilience: http://memegenerator.net/instance/38677945
01[12:46] {&Threei}  better one: http://cdn.memegenerator.net/instances/300x300/38677945.jpg
[12:46] {stevw} lol - such ambition
[12:47] {stevw} couldn't find a picture of someone wiping up their spilled tea at the Empress?
01[12:47] {&Threei}  lol
01[12:48] {&Threei}  ese, dp, will... saying daily prayer for no rain on Sat, June 22?
[12:48] {+cc_9} SPY @ 162.40 , all out SSO
[12:49] {ese} yup
[12:49] {+cc_9} P&L : http://img42.imageshack.us/img42/7745/todayxa.jpg
[12:49] {ese} sacraficing a goat as well
[12:49] {Les} thanks for the heads up cc took first break of .00 SSO missed DB here
[12:50] {ese} will drink the blood just to make sure
[12:50] {+cc_9} all good Les
[12:50] {dino} tol sm l .50
[12:51] {dino} apr. gap filled
[12:53] {+cc_9} there goes the bounce on SPY/SSO Les
[12:54] {Will49} as long as we don't have "the big one" on June 22
[12:54] {Will49} that would knock over the BBQ
[12:54] {dino} out iep .04 +.41
01[12:56] {&Threei}  but mine is brick-and-mortar, will... self-built
01[12:57] {&Threei}  russians know it as "mangal"
01[12:57] {&Threei}  specifically for shishkebab
[12:57] {nemo} mmhhh, index shorts setting up again
01[12:58] {&Threei}  careful nemo
01[12:58] {&Threei}  more likely little pullback before continuing crawling up
[12:58] {nemo} yesh, I realize we are in the hole, would only look for resistance shorts
[12:59] {nemo} iwm and SPY bounced at channel support and FAS at WS1 so we might be done for the day, but SPY might want to test 162 again
01[13:00] {&Threei}  TGT *RAISES DIVIDEND 19%
01[13:00] {&Threei}  what's with rush of raising dividends?
[13:00] {nemo} keep stock price up because retail earnings are starting to suffer
01[13:02] {&Threei}  *(US) TREASURY'S $21B 10-YEAR NOTE REOPENING DRAWS 2.209%; BID-TO-COVER RATIO: 2.53 V 2.79 PRIOR AND *(US) TREASURY'S $21B 10-YEAR NOTE REOPENING DRAWS 2.209%; BID-TO-COVER RATIO: 2.53 V 2.79 PRIOR AND 2.98 OVER THE LAST 6 REOPENINGS- Indirect bidders take 51.7% of competitive bids, with 33.2% allotted at high - 11.7% go to direct bidders; 36.6% go to dealers - Median 2.168%, Low 2.08%
[13:04] {dino} eqix sm l .64
[13:05] {dino} tlk sm l .20
01[13:06] {&Threei}  GDX 1:1 if anyone went for it
01[13:06] {&Threei}  on Les's call
01[13:07] {&Threei}  lol twitter:
01[13:07] {&Threei}  $LULU chart forming a patented "See-through bottom" pattern here
[13:07] {+cc_9} look @ SSO / SPY now hehe
[13:07] {stevw} nice one Vad
[13:08] {dino} lulu bohica pattern
[13:08] {Les} had to go club a steak at the supermarket for dinner vad. exited flat
[13:08] {Les} closing time here
[13:11] {Will49} lol dino
[13:12] {Les} wow what news lulu?
[13:13] {Les} they lost sales after quitting the transparent tutu business?
[13:13] {RonS} CEO leaving...announced yest...unexpected...LULU
[13:13] {RonS} lulu beat...
01[13:13] {&Threei}  several downgrades
[13:15] {dino} lulu beat and raised guidance. ceo resigning
01[13:15] {&Threei} Long Setup:  GM  .60 break
01[13:16] {&Threei}  from the Imbecile Land:
01[13:16] {&Threei}  (EU) ECB's Asmussen: Bank's pledge to do whatever it takes to defend the eurozone remains valid, the OMT has made the ECB the strongest player in the market
01[13:17] {&Threei}  is he really proud of this?
01[13:17] {&Threei}  yes:
01[13:17] {&Threei}  - Notes that the the phrase 'dont fight the Fed' can now be applied to the ECB - Source TradeTheNews.com
01[13:17] {&Threei}  mama...
01[13:18] {&Threei}  just how screwed up their thinking should be to say all this with pride
[13:19] {Alexs} stop on GM?
01[13:19] {&Threei}  few things will deliver me more pleasure than seeing this idiotic construct collapsing
[13:20] {dino} out tol .80, +.30
01[13:20] {&Threei}  under .50, standard
[13:21] {dino} out eqix .99, +.35
01[13:21] {&Threei}  no go
[13:28] {Les} GDX delivers slowly but surely... without me
01[13:28] {&Threei}  yeah, 1;2
[13:35] {stevw} how do you like the setup on FCX?  just kidding
[13:35] {stevw} browsing for opportunities and had to laugh at how boring it's been relative to lots of action elsewhere
[13:41] {nemo} http://bit.ly/13Y0abI
[13:44] {Les} frikin conservative
[13:45] {nemo} it's funny Les, especially because my local team is the Patriots
[13:45] {jdetente} so do you think Darth Belichick will turn Tebow into a decent NFL player again?
[13:45] {jdetente} if anyone can it would be him
[13:45] {nemo} he may not even make the team...no guaranteed money
[13:46] {jdetente} smart
[13:46] {RonS} Nemo... Cautiously Bullishly Optimistically Paranoid http://stks.co/fZDv  via @Upsidetrader $SPX
[13:47] {nemo} Meanwhile, the Stanley Cup Finals start tonight
[13:47] {jdetente} should be a great series
[13:47] {Les} more hindenburg shit
[13:47] {Les} omens etc
[13:51] {Les} LULU ready for next dive or time to catch the bounce. not sure
[13:53] {nemo} coh might be coming into short territory
[13:53] {Les} I like it
01[13:54] {&Threei}  http://www.ritholtz.com/blog/2013/06/hindenburg-omen-2/
[13:54] {nemo} here, and then 58 might be next level
[13:54] {+cc_9} Les
[13:54] {+cc_9} there goes SSO / SPY again
[13:55] {+cc_9} wash rinse repeat btfd
[13:55] {+cc_9} worst case scenario, you make money
[13:55] {nemo} dislocate shoulder  ;-)  Vad disease
01[13:56] {&Threei}  Most women desire someone who makes them laugh and feel safe, so basically clown ninja will do.
[13:56] {nemo} ;-)
[13:56] {+cc_9} i have yet to see an african american ninja
[13:57] {nemo} wasn't expecting that
01[13:57] {&Threei}  finally, time to buy FB:
01[13:57] {&Threei}  Facebook launches hashtags to let users add context and discover shared interests
[13:58] {stevw} shared interest = pathetic lives?
01[13:58] {&Threei}  that too
01[14:00] {&Threei}  *(US) MAY MONTHLY BUDGET STATEMENT: -$138.7B V -$136.5BE- Receipts: $197.1B v $180.7B y/y - Outlays: $335.9B v $305.3B y/y
[14:01] {dino} stop tlk .09, -.11
[14:01] {RonS} sequester devastating outlays, eh?
01[14:01] {&Threei}  uhhu
01[14:02] {&Threei}  so they collected 17 B more in taxes
01[14:02] {&Threei}  and spent 30B more
01[14:02] {&Threei}  and they tell us they will balance the budget at some point in ther future?
[14:03] {Les} hope for a better future
[14:05] {Will49} slow day question
[14:05] {Will49} what will stop the powers that be keeping this up for years?
[14:06] {Will49} from keeping this...
[14:06] {Will49} or decades?
[14:06] {dino} term limits
01[14:06] {&Threei}  well, you can't expand balance sheet endlessly
[14:06] {Will49} why not?
[14:06] {dino} yeah, just ask greece
01[14:06] {&Threei}  change in political climate is one thing
01[14:07] {&Threei}  loss of bodn buyers confidence is another
01[14:07] {&Threei}  bond
[14:07] {Will49} won't central banks buy the bonds?
01[14:07] {&Threei}  to a degree
01[14:07] {&Threei}  but that ends too
01[14:07] {&Threei}  as dino said...
[14:08] {dino} jobs drop
01[14:08] {&Threei}  if it were possible, we wouldn't have Greece situation
[14:08] {Will49} dino...doesn't congress have to vote for term limits?
[14:08] {dino} yes
01[14:08] {&Threei}  financing yourself by moving money from right pants pocket to left works only so long
[14:08] {Will49} so it'll never happen
[14:08] {dino} will never happen
01[14:09] {&Threei}  financing by pure printing press too
[14:09] {Will49} that's just a theory Vad
01[14:09] {&Threei}  basically this is music chair game
01[14:09] {&Threei}  not really
[14:09] {Will49} we are in uncharted waters here
01[14:10] {&Threei}  it's historically confirmed
01[14:10] {&Threei}  name me one country in history that survived by financing itself this way
[14:10] {Will49} so the only question is when?
[14:10] {Will49} not if
01[14:10] {&Threei}  if it were possible, where would any financing problem come from at all?
01[14:10] {&Threei}  everyone would print all they need and live happily
[14:11] {Will49} USA
01[14:11] {&Threei}  it is a matter of when, yes
[14:11] {Will49} so could be 50 years
01[14:11] {&Threei}  if nothing changes in policy, and it continues at this rate? no
[14:12] {Will49} not convinced
[14:12] {Will49} but afraid
[14:12] {ese} ok.....have done enough watchin for today....cyou all tomorrow
[14:12] {Will49} peace ese
[14:12] {ese} cya will
[14:13] {dino} don't fear it will, just react to it
[14:13] {Will49} peace order and good government:)
[14:13] {Will49} good advice dino
[14:13] {Les} lulu says down. too busy to grab setups today
[14:13] {Les} COH looks interesting for short here
01[14:14] {&Threei}  see will... it's difficult to envision when things look so traditionally stable for so long
01[14:15] {&Threei}  but if you lived through one society collapse, you gain different perspective
[14:15] {Will49} I'll bet
01[14:15] {&Threei}  when the findation is rotten and no one does anything to change it, moment comes and it falls apart with unimagihable speed
01[14:16] {&Threei}  I of course don't know how it looked from the outside,
01[14:17] {&Threei}  but from inside, USSR collapse was something no one couild imagine short few years before it happened
[14:17] {Les} COH bb's tightening at vwap resistance new move coming watching for setup
01[14:17] {&Threei}  USA has much better chance to avoid it though
01[14:18] {&Threei}  thanks to EU being first to fall apart and if US plays its cards right
[14:18] {dino} jobs sm l .57
[14:18] {Will49} that's my thinking...if they buck stays as reserve currency. who can hurt them?
01[14:19] {&Threei}  they'll hurt themselves if they don't change the course
[14:19] {Will49} and everybody else just follows along
01[14:19] {&Threei}  reserve or not, you need financing
01[14:19] {&Threei}  right now it comes from borrowing
[14:19] {Will49} print
01[14:19] {&Threei}  if nothing changes, sooner or later that will expire
[14:19] {Will49} my guess is later, a lot later
01[14:20] {&Threei}  printing is inflation, printing at the rates replacing borrown is hyperinflation
[14:20] {Will49} the elite won't let this slip thru their fingers
[14:20] {dino} iep sm l .22
01[14:20] {&Threei}  if borrowing dries up, troubles are unavoidable
01[14:20] {&Threei}  elite is not allmighty...
[14:20] {Will49} just keep feeding the big consumption machine
[14:21] {Will49} anyway, I guess we're beating a dead horse here
[14:21] {Will49} nobody knows
01[14:22] {&Threei}  nope, but the scary thing is:
01[14:22] {&Threei}  it includes Ben and company :)
[14:22] {Will49} good point
01[14:22] {&Threei}  they've no idea either
01[14:22] {&Threei}  and make it up as they go along
[14:22] {Will49} working so far
01[14:23] {&Threei}  only in a sense of putting out immediate fires
[14:23] {Will49} i'm not defending this....just my observations")
01[14:23] {&Threei}  basement is still smoldering
[14:26] {dino} iep stop -.34
[14:28] {nemo} vxx might be at inflection, if it breaks out above the high we go down some more, if it stats to come in, we go up probably
01[14:29] {&Threei} Short Setup: GLD  .24 break
01[14:29] {&Threei}  If holds  .35
[14:29] {nemo} might be a vwap bounce in the .20 area
[14:30] {dino} iep rinsed
[14:30] {nemo} vxx coming in a bit
[14:30] {dino} re-load .20
[14:34] {backman} JPM  got crushed today
[14:36] {dino} c too
[14:40] {dino} out jobs .92, +.38
[14:40] {dino} opps, +.35
01[14:42] {&Threei}  1:1
[14:53] {Les} decent volume coming in as COH hits 58 resistance
01[14:54] {&Threei}  will we get 1:2?
01[14:54] {&Threei}  because what I am really after is 1:4
01[14:54] {&Threei}  1:2
01[14:54] {&Threei}  trailing to .21
[14:56] {nemo} big boy volume in SPY
[14:57] {Les} http://www.spiegel.de/international/germany/berlin-lays-cornerstone-on-controversial-palace-project-a-905366.html
[14:57] {Les} looks like easy money problems reaching the heart of Europe
[15:01] {nemo} off to a wake and funeral in the morning  have a wonderful day
[15:01] {Will49} you too
[15:02] {Les} cheers bunny boy
[15:03] {dino} take care nemo
01[15:04] {&Threei}  come on GLD, die more
[15:05] {dino} iep getting crushed
[15:06] {stevw} die more - rejected as a bruce willis movie title
[15:06] {Will49} haha
01[15:07] {&Threei}  ummm... die harder?
[15:07] {stevw} there we go
01[15:07] {&Threei}  last installation is sirely disappointing
01[15:07] {&Threei}  sorely
[15:09] {stevw} is it true viagra tried to get product placement in die harder?
[15:09] {Les} hehe
[15:09] {dino} lol
01[15:10] {&Threei}  lol
[15:10] {Will49} good one stev
[15:10] {jdetente} hahaha
[15:10] {stevw} one a day for me - so i guess that was it
[15:10] {jdetente} do a Costanza...
[15:11] {jdetente} leave on a high note.
[15:11] {stevw} love it
[15:17] {dino} fast fall
[15:19] {dino} builders hold well today, tol, dhi, len, etc
[15:22] {dino} iep sm l .85
[15:29] {dino} out iep .19, +.34
[15:29] {Will49} dino the energizer bunny
[15:30] {dino} just doing my job. don't want to get fired
[15:35] {Les} potential db iwm
[15:35] {Les} higher low spy
01[15:38] {&Threei}  trail to .18
[15:39] {Les} scmall inverse cup and handle iwm
[15:39] {dino} eqix sm l .65
[15:41] {dino} lulu bottom may be in. been moving up
[15:41] {dino} alk holds well
[15:45] {dino} bks drop
[15:46] {+cc_9} ok folks
[15:46] {+cc_9} see you all tomorrow
[15:46] {Will49} cheers
[15:46] {dino} out eqix .95, +.30
[15:47] {dino} wtf, way too soon
01[15:48] {&Threei}  ok guys, thank you all
[15:48] {Les} cheersd
01[15:48] {&Threei}  have a great evening, see you tomorrow
[15:48] {jdetente} have a good one
[15:48] {dino} yeah, running out of time, thx all, good day. appreciate the ideas
[15:49] {Will49} peace everybody