Friday, October 11, 2013

Oct 11 2013

Uneven day, ending uneven week. Slightly negative day, slightly positive week. A lot of annoying up and downs, in tune with Washington developments. Ended with winning trade which helps. Hopefully this nonsense is over soon, all these "he said she said" headlines sending market up and down are tiresome.

Session Time: Fri Oct 11 00:00:00 2013
03[02:17] * Retrieving #discussions modes...
[09:05] {Les} morning
01[09:05] {@Threei}  morning les
[09:06] {Les} futures ain't waiting. H&S daily time frame dropping thru neckline
[09:06] {Les} silver futures resemble inverted c&h
[09:06] {Les} gold H&S I should say
[09:07] {Les} at least CHF/USD is holding up with fiscal stupidity
[09:07] {Les} can setup Nonko account at relatively good rate
[09:07] {Les} lol finally starting to think like a business person instead of a consumer
[09:09] {cipher} gm
[09:09] {RonS} gm
[09:09] {Les} morning u 2
01[09:09] {@Threei}  cipher, ron :)
[09:11] {Les} winter smacked us in the face last night
01[09:11] {@Threei}  really?
[09:12] {Les} 37F
[09:12] {Les} snow just a little higher
01[09:12] {@Threei}  yikes
[09:12] {Les} don't you be pulling out one of your sunset photos at this point
[09:13] {Les} after 3 months of great summer weather, had to happen
[09:13] {Les} speaking of had to happen
01[09:13] {@Threei} :)
06[09:13] * Les slaps Threei around a bit with a large trout
[09:15] {Les} rocks are fabulous colour. lot of iron oxide in 'em I guess
[09:17] {nemo} Politics is a science. You can demonstrate that you are right and that others are wrong. ~ Sartre
[09:17] {nemo} sounds like a wife
[09:19] {Les} marriage - hell pit that sporned politics
[09:19] {nemo} ?
[09:20] {nemo} Vad school of typing?
[09:20] {Les} nah, ain't wasting valuable time on you
[09:20] {Les} think vad's onto something though
[09:20] {nemo} I'm hurt
[09:21] {Les} lot of useless filler that can be dropped in english
[09:21] {Les} you're a big guy
[09:21] {nemo} could say that about most of the people in the world
[09:22] {Les} touché
[09:22] {nemo} or in your case:  douche
01[09:23] {@Threei}  "sporned" - spawned typed by a man trying to concentrate on porn
[09:23] {nemo} he has been married a long time
01[09:23] {@Threei}  I don't judge
[09:24] {nemo} that would be the stone and glass house thing
01[09:24] {@Threei}  I like this version:
01[09:24] {@Threei}  people living in glass houses shouldn't throw orgies
[09:24] {Alexs} gm
01[09:25] {@Threei}  alex :)
[09:25] {nemo} well, what if they have drapes?
01[09:25] {@Threei}  then they should
01[09:25] {@Threei}  must even
[09:26] {nemo} I remember when I first lived in Germany in my early 20's and heard about how when the weather was warm and sunny, lotsa people sunbathed nude in Englische Garten.  I thought cool!!!
[09:26] {nemo} Then I realized, there is more that you don't want to see naked
01[09:26] {@Threei}  then you saw them...
[09:27] {nemo} Frickin'  horrid...
01[09:27] {@Threei}  and wanted to put your eyes out
[09:27] {ese} gm
01[09:27] {@Threei}  ese :)
[09:29] {goinshort} morning all
01[09:29] {@Threei}  gs :)
[09:29] {ese} mornin vad nemo short
01[09:30] {@Threei} Short Setup: GDX  .20 break
01[09:30] {@Threei}  If holds  .25 
01[09:33] {@Threei}  let's cover half here
01[09:34] {@Threei}  stop .24
[09:35] {dino} ssw s s .00
[09:36] {RonS} ssw cancelled secondary...
[09:38] {dino} cov ssw .68, +.32
[09:38] {RonS} gj
01[09:41] {@Threei} Long Setup:  MCD  .60 break
01[09:41] {@Threei}  If holds  .50 
[09:41] {dino} ltd sm l .85
[09:42] {dino} thx ron
[09:44] {ese} dino do you use a live news feed...if so which one
[09:44] {ese} and check ou cray
[09:45] {dino} just whats built into st.smartedge
[09:45] {dino} scanners are picking 99% of trades
[09:45] {ese} tks
[09:46] {dino} early morning, top 25 and bottom 25 % movers
[09:46] {Alexs} still valid?
[09:46] {dino} so look for shorts on big overnight gainers, longs on overnight capits
01[09:46] {@Threei}  no read
[09:46] {cipher} ctrp l.16
01[09:46] {@Threei}  SPY is too hesitant
[09:47] {dino} out ltd .15, +.30
[09:47] {cipher} out ctrp .50 +.34
[09:47] {dino} gj
[09:48] {cipher} npsp  l.51
01[09:48] {@Threei} Short Setup: GLD  .20 break
[09:48] {cipher} out .71 +.20
01[09:48] {@Threei}  If holds  .30 
[09:51] {ese} l npsp .75
[09:52] {cipher} insy l ..89
[09:54] {cipher} out .74 +.51
[09:54] {cipher} make it .61
[09:56] {dino} npsp sm l .35
[09:56] {nemo} 169.90 is R1, so reasonable to expect test of 170
[09:57] {Alexs} you make gld full lot currently Vad?
01[09:57] {@Threei}  yes
[09:58] {dino} out npsp .75, +.40, thx for idea cipher
[09:58] {cipher} CGIX L .86
[09:59] {nemo} wow
[09:59] {nemo} another relentless grind up
[10:00] {nemo} finnies not along for the ride though
[10:02] {dino} cgix sm l .85,
[10:02] {dino} gappy
[10:03] {cipher} I'm with ya dino
[10:03] {dino} you gave me the idea buddy
[10:04] {dino} nxst spike
[10:04] {cipher} DISH L .41
[10:05] {nemo} anf looks short
[10:06] {ese} l ssys .13
[10:06] {ese} I love these stocks ...trun to type and your up .20
[10:07] {dino} that is nice
[10:07] {ese} turn
01[10:07] {@Threei}  no go
[10:09] {ese} out npsp .08 +.33
[10:09] {dino} nxst sm s ave .56
[10:10] {dino} stop .76 -.20
01[10:11] {@Threei} Short Setup: CAT  .80 break
01[10:11] {@Threei}  If holds  .90 
[10:12] {Alexs} is it triggered?
01[10:12] {@Threei}  not yet
[10:12] {Alexs} k
[10:13] {cipher} SSO L .94
[10:13] {dino} out cgix .29, +.44 ty cipher
[10:14] {cipher} np
[10:15] {cipher} did you use EDGA or EDGX to get out?
[10:15] {ese} out ssys .75 +.62
[10:16] {dino} value added research, jefferys raises igte to 29 from 19. thing closed 30.50
[10:17] {cipher} out CGIX .00 +.14
[10:17] {ese} hmmmmmmmm  i don't see a .75 print for ssys......i see .70's but no .75
[10:17] {Alexs} I wouldn't let Republicans market an iPad when it came out," he said. "They can't market anything." 
[10:17] {Alexs} {Jack Welch}
01[10:18] {@Threei}  he is right
[10:18] {ese} i don't give a rats sweet patute cause i've got my money but that seems odd
[10:18] {nemo} what seems odd?
[10:18] {dino} igte sm s .66
[10:18] {cipher} PBPB l.39
[10:19] {ese} the fact that i got filled at .75 and when i looked at the time and sales all i saw was .70 prints
[10:19] {nemo} market order?
[10:19] {ese} take a look at the 10:16 time frame prints
[10:20] {dino} sometimes they miss
[10:20] {nemo} what exchange filled you?
[10:20] {cipher} out PBPB .69 +.30
[10:20] {ese} one says bats......the other 4 are nasdaq
[10:21] {cipher} SSO stopped .90 -.04
[10:22] {ese} ahhhh matters not.................questrade probably filled that in house i would imagine
[10:24] {dino} smartex mixes them for me ese
[10:25] {cipher} PBPB l.83
[10:25] {cipher} SSO L.84
[10:25] {cipher} expecting new high on SPY
[10:26] {ese} i'm sure something like that happened
[10:26] {dino} 07 green, speeding up
[10:27] {dino} cov igte .74 -.08
[10:28] {Alexs} cat stop still .91?
[10:29] {dino} rinsed
[10:29] {dino} or not
01[10:30] {@Threei}  .86 is possible now
[10:33] {Les} GLD ready to crap itself
01[10:34] {@Threei}  GDX already does
[10:34] {Les} leveraged ugliness
01[10:34] {@Threei}  overall though, very narrow and slow action
[10:35] {Les} missed the first hour, kids cross country for end of term just happened
[10:35] {Les} thought I'd just gotten rid of the little monsters for another year...
[10:35] {Alexs} CAT doesn't want to die
[10:36] {cipher} ssO stopped -.08
[10:36] {dino} nxst sm s .74
[10:37] {nemo} spy if gonna' bounce between here and .20
[10:38] {cipher} nxst s .74
[10:38] {dino} aegr
[10:39] {cipher} aegr L.05
[10:40] {cipher} out .75 thx dino
[10:41] {cipher} NXST stopped .85 -.11
[10:42] {cipher} fast drop
[10:42] {cipher} FAST l.40
[10:43] {cipher} out .50
[10:44] {Les} that was fast
[10:44] {nemo} ese...rim shot
[10:44] {cipher} what Les?
[10:44] {nemo} Les made a funny
[10:45] {Les} obviously
[10:45] {Alexs} are you in CAT trade Vad?
[10:45] {nemo} what?  forgot to laugh Cipher...understandable
[10:45] {nemo} it's Les
[10:45] {cipher} aha :)
06[10:45] * Les takes a bow
[10:45] {nemo} don't encourage him
[10:45] {cipher} it was actually kinda slow
06[10:45] * Les slaps nemo around a bit with a large trout
[10:46] {cipher} despite what the symbol is suggesting
[10:46] {ese} your emails.....I sent you something.   
[10:48] {ese} mornin Les
[10:48] {nemo} who is that?  Person?
[10:48] {dino} cov nxst flat, bad entry
[10:48] {Les} hey ese
01[10:49] {@Threei}  alex?
01[10:49] {@Threei}  why not?
[10:50] {dino} obummr/repub meeting 11:30 i think
[10:50] {cipher} IBB L.91
01[10:50] {@Threei}  not anymore
[10:50] {Alexs} cat doesn't look alive may be time to scratch it
01[10:50] {@Threei}  yes
[10:51] {dino} lulu gap fill
[10:51] {dino} sm l .14
[10:54] {Les} GLD trying to breakout
[10:57] {cipher} +.31 LULU thx dino
[10:57] {ese} i'm here les
[10:57] {dino} yw, gj
[10:57] {cipher} out IBB .42 +.51
[10:58] {dino} out lulu .47, +.43
[10:58] {dino} opps .33
[10:59] {cipher} gj
[10:59] {ese} nemo....ya there
[11:01] {cipher} don't feel good today... calling it a week
[11:01] {cipher} good weekend all
[11:01] {ese} have a great weekend c
01[11:02] {@Threei}  take care cipher
[11:03] {ese} are the mrkts open monday
[11:03] {Les} cheers ci
[11:04] {Les} potential cup and handle GDX
01[11:04] {@Threei}  yes ese
[11:04] {ese} tks
[11:04] {Les} doing a traffic cop course tomorrow
[11:05] {Les} gonna be on the street as target practise for drivers all next week
[11:05] {Les} scored the morning shift, so can be here in afternoons for opening
[11:05] {Les} nice to have income coming in on the side
[11:07] {ese} indeed
[11:09] {Les} c&h failure on GDX, but shit this is slow.
[11:13] {Les} bearish divergence and and SPY short opp at .50 here
[11:13] {Les} sorry IWM
[11:14] {Les} see if it can DT at .60
[11:17] {RonS} Russia mounts last-ditch offensive to torpedo Ukraine’s shift toward Europe |
[11:17] {Les} might be high for the day there in IWM
[11:20] {Les} EU will screw over Ukraine more effectively than Putin.
01[11:21] {@Threei}  no one can screw Ukraine more effectively than Ukraine
[11:21] {Les} oof
[11:21] {Les} GLD following GDX back down
01[11:22] {@Threei}  it proved its superiority over everyone else in that regard
[11:22] {Les} after Greek cover up of its entry into EU, surprised to see Ukraine gain acceptance
[11:22] {Les} or even possibly gain acceptance
01[11:23] {@Threei}  how do you manage to stay bankrupt with the richest soil in Europe, with abundance of coal and iron, amazing beaches of Crimea etc etc
01[11:23] {@Threei}  takes special talent
01[11:24] {@Threei}  - Gold trading was temporarily halted on the CME for 10 seconds this morning at 08:42ET for a "stop logic" event. A big trade knocked $25 off the price in a two-minute span, triggering the move.
[11:24] {Les} imagine Brussels would be happy to learn how its done
01[11:24] {@Threei}  This sort of development can have outsized impacts in less liquid markets. Spot gold dropped from approx $1,290 to $1,264 very rapidly, where it remains currently, around lows last seen in mid-July. Adding to the weight, a Goldman analyst called selling gold after the shutdown ends a slamdunk trade.
[11:36] {Les} never short a dull market. back for close
01[11:37] {@Threei}  (US) Reportedly House Republicans are said to be offering a combined debt ceiling increase and an end to the shutdown in exchange for a package of spending cuts - financial press- Separately, Senior House Rep Hoyer (D-MD) commented that the bill proposed to raise debt ceiling temporarily and open the Govt is likely to pass
01[11:56] {@Threei} Short Setup: IWM  .95 break
01[11:56] {@Threei}  If holds  107 
[11:59] {nemo} going at least to .15
01[11:59] {@Threei}  meh
[12:00] {nemo} the rally to new highs is on
01[12:12] {@Threei} Short Setup: IWM  107 break
01[12:12] {@Threei}  If holds  .10 
[12:17] {Alexs} no go
01[12:18] {@Threei} Long Setup:  WMT  .50 break
01[12:18] {@Threei}  If holds  .40 
[12:21] {dino} nxst sm s .11
[12:21] {dino} bstop .26
[12:45] {Alexs} mu short .10 on recross?
[12:45] {goinshort} Thanks Vad - gotta call it a week - be back Monday
[12:47] {nemo} no shorts, repubs capitulated
01[12:47] {@Threei}  take care gs
01[12:47] {@Threei}  looks about right alex
[12:50] {dino} nxst stop
[12:52] {dino} just thinking (which i know i shouldn't), but we are close to a deal and helicopter yellen (who's more free w/$ than ben) is taking over in jan. hmmmm...
[12:56] {nemo} looks like iwm going for all time highs today
[12:59] {nemo} should get a big gap up on Monday if they sign agreement over the weekend
01[12:59] {@Threei}  weho knows dino
01[12:59] {@Threei}  all components seem to be in for a further rally
[13:00] {Alexs} fb nice c&h
01[13:00] {@Threei}  but at the same time, taper is more and more on the mind of many fed voting members
[13:00] {nemo} with her of the opinion that unemployment is cyclical and not structural, lots of printing coming
01[13:00] {@Threei}  and it has been well known that yellen is #1 candidate for a good while
[13:00] {nemo} Yeah, but she calls the shot regardless of the votes
[13:02] {dino} thinking as you are nemo, print like mad
[13:02] {nemo} there won't be any taper through the holiday season
[13:02] {nemo} this "shutdown" gave them even more cover
[13:03] {dino} none until after she gets in in '14
[13:04] {nemo} IWM just keeps going
[13:08] {nemo} fas headed for gap
01[13:46] {@Threei} Short Setup: IWM  .40 break
01[13:46] {@Threei}  this one should finally do
[13:47] {nemo} funny, I'm looking for indexes to bounce a bit here
[13:47] {Alexs} it's not funny nemo 
[13:48] {nemo} funny strange
01[13:48] {@Threei}  nemo doesn't get out much, alex
[13:48] {Alexs} lol
[13:48] {nemo} if it doesn't bounce by .30, 107.20 then 107 test
[13:51] {Alexs} that sounds better
[13:55] {nemo} you'll listen and you'll like it
[13:56] {nemo} I'm betting on big gap up Monday
[13:58] {nemo}
[13:58] {dino} pop and drop monday, my bet
[13:59] {nemo} debating on the fade part, think it might wait until turn around Tues or Wed.
01[14:00] {@Threei}  I would offer to make bets but we risk to forget them over the weekend... so let's do it on Monday :)
[14:01] {nemo} if you write it here we'll be able to look it up
01[14:01] {@Threei}  you assume that we remember we wrote it to look it up
01[14:01] {@Threei}  that's not a given at all
[14:02] {nemo} nevermind
[14:04] {nemo}
01[14:04] {@Threei}  I don't like this friday at all
01[14:04] {@Threei}  slow, random, jellyfishy
[14:05] {Alexs} I don't like october at all
[14:10] {dino} i'm w/ya alex
[14:10] {nemo} this shutdown has thrown an extra dynamic into the works
01[14:26] {@Threei}  still think GLD should sell off closer to eod
01[14:34] {@Threei}  hmmm... it doesn't wait that long
01[14:34] {@Threei}  should have shorted .30
01[14:36] {@Threei}  let's see if we get a bounce
01[14:36] {@Threei}  to short into
[14:36] {Alexs} .20?
01[14:37] {@Threei}  I would feel safer at .30
01[14:37] {@Threei}  and with all this semi-random up and down we might just get it
[14:44] {Alexs} so we r in?
01[14:45] {@Threei}  waiting for it to go over .30
[14:45] {Alexs} k
[14:45] {nemo} finnies may break higher, this important level for iwm
01[14:46] {@Threei} Short Setup: GLD  .30 break
01[14:47] {@Threei}  If holds  .35 
[14:50] {Les} .
01[14:51] {@Threei}  good popint
[14:51] {Les} good vad english
[14:52] {nemo} Remember the scene in Goodfellas when the guys lay bets at the track, and then see that the bad luck guy has bet on their favorites?  That's what it feels like when Les shows up...
[14:52] {Alexs} lol
[14:52] {Les} don't work that brain so hard
[14:52] {nemo} I don't, you naturally bring it out in me
[14:53] {nemo} shorts should work here
[14:54] {nemo} mmhhh, spy only 70 mil traded
[14:55] {nemo} gdx starting to look like rebate trading
01[14:56] {@Threei}  38% Give Obama Positive Marks for Deficit Reduction.
01[14:56] {@Threei}  really?
01[14:56] {@Threei}  number of people who can't tell up from down and right from left is that high?
01[14:57] {@Threei}  and I mean right and left in direction sense, not political
[15:00] {nemo} ohoh...another run higher is shaping up
[15:01] {nemo} it's official, I don't know where it's going
[15:02] {dino} lol
[15:03] {Les} u were right first time. 15 and hourly lining up with good consolidation in 1 min
[15:04] {nemo} yeah, but how much is it gonna' give up...don't feel any momentum
[15:04] {Les} good for a scalp so far...
[15:05] {RonS} dino, thinkin we should be dogging MYGN monday for capitulation volume
01[15:05] {@Threei}  GM Reportedly to increase prices for the Chevy Silverado and Sierra by $1500, along with incentives valued at $1500 - financial press
[15:05] {nemo} dogging sees so you Ron
01[15:05] {@Threei}  totally makes sense
[15:05] {dino} ok ron, on screen
[15:06] {nemo} I can see Ron on all fours, baying at the moon, lifting his leg to pee
[15:06] {nemo} licking his...
[15:06] {Les} chops
[15:06] {RonS} woof
06[15:06] * Les slaps nemo around a bit with a large trout
[15:07] {nemo} Les, your overdoing the trout
[15:07] {nemo} you're
[15:07] {dino} bark- all i see is downgrade
[15:08] {Les} need to preset some other options
[15:08] {Les} ballpin hammer would be nice from time to time
[15:08] {Les} variation and all that
[15:08] {dino} my dog can talk.. whats over house? roof. who's that? ruth, whers my golf ball? rough. whats on that tree? bark
[15:08] {dino} wow, my mind needs a drink
[15:09] {RonS} need will here for that one...
01[15:09] {@Threei}  lol
01[15:09] {@Threei}  will betrayed us for his heated pool today
[15:11] {nemo} see what I mean Les, probably not, it would be obvious to a 3rd grader though
[15:12] {Les} huh?
[15:13] {nemo} 'nuff said
[15:13] {Les} the dog or the market?
[15:14] {RonS} young st bernard in area...doesn't slobber...beautiful dog...even friendly...past breed experience is that they are extremely territorial...
[15:17] {Les} MYGN almost looks ready to lift here...
[15:17] {dino} they are cool looking dogs
[15:21] {RonS} lol...BlackBerry founders join parade of dudes who want to buy back their companies.Quit it! Consider a pizza parlor.
[15:28] {Les}
[15:28] {Les} Fleck whiffing the end of Fed taming with printing press
[15:28] {Les} on the lines of our discussion yesterday Alex
[15:29] {Les} MYGN short covering into close?
01[15:32] {@Threei} Short Setup: GDX  .10 break
01[15:32] {@Threei}  If holds  .15 
[15:35] {Alexs} So Les you think that guy knows a lot about Yellen's brain?
01[15:36] {@Threei}  probably not but how is he going to make a living if he admits that, alex
[15:37] {Alexs} lol
01[15:37] {@Threei}  re,e,ber that russian saying... (swear verb) is easier than to turn heavy bags
[15:38] {Alexs} rofl
01[15:38] {@Threei}  :)
[15:38] {Alexs} pizdet ne meshki vorochat
[15:38] {nemo} Les doesn't even know much about his own
01[15:39] {@Threei}  eqzaktly
[15:41] {Les} You're assuming that Yellen and a printing press is only game in town Alex
01[15:41] {@Threei}  let's cover half here
01[15:42] {@Threei}  stop to .11
01[15:42] {@Threei}  want to make sure we end up with profitable tarde
01[15:42] {@Threei}  what do you mean Les?
[15:43] {Les} hearing talk of Washington toying with idea of offloading public pension to private asset management
[15:43] {Les} not sure what amount is in that pot
01[15:43] {@Threei}  I can't see current administratikon doing anything of sorts
[15:44] {nemo} if anything they want it all in the public sector
01[15:44] {@Threei}  if anything, they'll ride it and confiscate it
01[15:45] {@Threei}  and move what's managed by private sector to public
[15:47] {dino} les you were right on mygn
01[15:48] {@Threei}  dino, you just put a knife in nemo's heart and turned it three times
01[15:48] {@Threei}  slowly
[15:48] {Les} bullish divergence suggested it, needed indexes to go along which they did
[15:48] {nemo} even a blind squirrel finds a nut every once in a while
[15:49] {Alexs} what happened to FB today? no belief in a bright future?
[15:49] {Les} love ya nemo
01[15:50] {@Threei}  it's not down that much
[15:51] {Les}
[15:51] {nemo} He's a republican, it will never happen
[15:51] {Les} If the banks can get into that game, then you don't need the Fed
01[15:51] {@Threei}  come on
01[15:52] {@Threei}  republican senator said he wants to do this
01[15:52] {@Threei}  who cares
[15:52] {Les} sure sure
[15:52] {nemo} Democrats would never give him a victory
[15:52] {Les} let's see where 'pension reform' goes
01[15:52] {@Threei}  in opposite direction to what he suggests
[15:53] {Les} but I suspect tinkering to help balance the budget at some point
[15:53] {Les} yeh he's suggesting non-govt market based blah blah blah
01[15:54] {@Threei}  yes - when republicans take presidency, senate and house
[15:54] {dino} which may be never to get all 3
01[15:54] {@Threei}  there you go :)
[15:54] {Les} After the resounding success of Obamacare for everyone, one could see the scheme being flipped to serve Washington...
01[15:54] {@Threei}  this train goes one way I am afraid
[15:55] {Les} anyway too much idle speculation on my part.
[15:55] {Les} outta here bon weekend
01[15:55] {@Threei}  take care
[15:56] {dino} calling it a week too. thx all
01[15:56] {@Threei}  ok guys
01[15:56] {@Threei}  covering balance of GDX under 23
01[15:57] {@Threei}  or at .59
01[15:57] {@Threei}  15:59 that is
01[15:57] {@Threei}  thank you all, have a great weekend
01[15:57] {@Threei}  see you on Monday
01[15:59] {@Threei}  out