Wednesday, October 9, 2013

Oct 9 2013

Catch of the Day, occurred very early in the morning and went down a whole lot more after our exit.

Other than that, almost 100% day, with one winning trade after another, on GLD, FB and SLW, both long and short, and just one stop that didn't make a dent.

Session Time: Wed Oct 09 00:00:00 2013
[09:13] {cipher} gm
01[09:13] {&Threei}  morning cipher
[09:15] {RonS} hello
01[09:16] {&Threei}  ron :)
[09:17] {dino} gm
01[09:17] {&Threei}  dino :)
[09:19] {Will49} gm
01[09:19] {&Threei}  will :)
01[09:23] {&Threei}  gold takes a beating
[09:23] {nemo} kinda' like u in a spelling class
[09:24] {Alexs} gm
01[09:25] {&Threei}  alex :)
01[09:25] {&Threei}  nemo, you routinely mistake misspelling for mistyping
01[09:25] {&Threei}  one is not knowing how the word is spelled
01[09:25] {&Threei}  another is blind typing with one's fins
[09:26] {nemo} fine, kinda like u in a typing class
[09:26] {ese} gm
01[09:26] {&Threei}  I refuse to take spelling-related berating comments from someone who confuses "their" and there" {GGG}
01[09:26] {&Threei}  ese :)
[09:27] {+cc_9} gm
01[09:27] {&Threei}  cc9 :)
[09:27] {ese} lol
[09:27] {nemo} I'm homonymistacally challenged
01[09:27] {&Threei}  how else?
[09:27] {ese} huh
[09:27] {ese} Might be the worst disease on the planet that
[09:27] {nemo} your a math teacher...cough....ese...don't expect u to understand
[09:28] {Will49} better than being harmonymystically challenged, eh ese?
[09:28] {nemo} I don't think that's an issue for ese
[09:28] {Will49} for sure
[09:28] {ese} ahhhhhh ya     egzactilly
[09:28] {+cc_9} ACAD @ open :)
[09:28] {Will49} was thinking about you nemo
01[09:28] {&Threei}  interestingly enough, the only result google produces when searched for that word is... wait for it... this very log, lol
[09:29] {nemo} that's scary
[09:29] {nemo} mw
[09:31] {+cc_9} in ACAd 23.21 starter
01[09:32] {&Threei} Short Setup: FB  .70 break hl
01[09:32] {&Threei}  yeah right
01[09:33] {&Threei}  valid again
01[09:33] {&Threei}  If holds  .80
01[09:33] {&Threei}  1:1
01[09:34] {&Threei}  1:3
01[09:34] {&Threei}  1:4
01[09:34] {&Threei}  out
[09:34] {+cc_9} ACAD add 22.55
01[09:34] {&Threei}  sheesh, lol
[09:34] {Alexs} nice gm Vad
01[09:34] {&Threei}  :)
[09:35] {robbers} Nice call.
[09:35] {+cc_9} ACAD testing double bottom 22.50 from yesterday
[09:35] {+cc_9} holding for now
[09:35] {dino} bud hl l .90
01[09:36] {&Threei} Short Setup: GLD  .20 break
01[09:36] {&Threei}  If holds  .30
01[09:38] {&Threei}  change to .30 break
01[09:38] {&Threei}  If holds  .35
[09:38] {+cc_9} FB/ACAD back to LOD ranges
01[09:39] {&Threei}  wow FB
[09:39] {+cc_9} FB dumping fast here
01[09:40] {&Threei}  (US) Fitch: There is no evidence that default risk aversion is prompting withdrawls from money market funds, which would be able to weather a "short-lived" default
[09:40] {Alexs} still valid?
01[09:40] {&Threei}  this doesn't look like any kind of technical move
01[09:40] {&Threei}  yes
01[09:40] {&Threei}  no news though
[09:41] {+cc_9} wow
[09:41] {dino} out z yesterday, .00, +1.09
01[09:41] {&Threei}  1:15
01[09:41] {&Threei}  lol
[09:42] {dino} out bofi yesterday .50, +.85
[09:42] {+cc_9} long FB here 46.35
[09:42] {+cc_9} kinda overdone
[09:43] {+cc_9} looking for 46.80
[09:44] {+cc_9} damn it ACAD, now i have to marry it
[09:45] {nemo} beer goggles?
[09:46] {dino} tsla blood, jazz too
[09:47] {+cc_9} ACAD total wreck, crash mode
[09:47] {Alexs} gld stop .41?
[09:47] {dino} mo-mo getting whacked
01[09:47] {&Threei}  hmmm
01[09:47] {&Threei}  didn't it invalidate?
01[09:47] {&Threei}  if you went for it, yes
[09:48] {Alexs} k
[09:48] {dino} jazz sm l .02
01[09:48] {&Threei}  .36 now
[09:48] {Alexs} 1:1
01[09:48] {&Threei}  by the book from here
[09:48] {Alexs} k ty
[09:48] {robbers} Out, thanks Vad.
[09:49] {+cc_9} ACAD nonstop since open
[09:49] {dino} out jazz .33, +.31
[09:50] {dino} acad sm l .80
[09:51] {+cc_9} ACAD needs a run through $22 and then some
[09:51] {dino} out acad .10, +.30, thx for idea cc9
[09:51] {Alexs} 1:2 GLD
01[09:53] {&Threei} Long Setup:  SLW  .95 break
01[09:53] {&Threei}  If holds  .90
[09:54] {+cc_9} ACAD massive volume bar here
[09:54] {cipher} yndx l.83
[09:54] {dino} z sm l .60
[09:55] {dino} acad sm l .75
[09:55] {Alexs} out GLD 126.01 ty Vad
01[09:55] {&Threei}  yw
01[09:56] {&Threei}  1:1
01[09:57] {&Threei}  - Janet Yellen to be formally nominated to head Fed on Wednesday
01[09:57] {&Threei}  let the destruction speed up
[09:57] {dino} tol, dhi gap fills
[09:58] {Alexs} 1:2 SLW btw
[09:59] {dino} tol sm l .80
[09:59] {+cc_9} ACAD some bids here
[09:59] {dino} dhi sm l .80
[09:59] {cipher} out yndx .99 +.16
[09:59] {dino} out z .31, +.71
[09:59] {robbers} wtg dino.
[09:59] {ese} many shs did you do with yndx
[10:00] {dino} ty robberas
[10:00] {robbers} You left off the final "s" dino.
[10:00] {dino} yum sm l .05
[10:01] {+cc_9} ACAD no mercy, bounce over $21.00 and crash back to .60s
[10:02] {dino} out yum .35, +.30
[10:03] {dino} trip fugly
[10:03] {dino} acad stop .55 -.20
[10:04] {dino} ddd sm l .56
[10:05] {dino} out bud .91, +.01, won't move
[10:06] {ese} L fslr .00
[10:07] {ese} stop .82
[10:07] {ese} stopped .-18
01[10:09] {&Threei}  (US) PIMCO's Gross: Yellen is more dovish than Bernanke, Fed is running out of ammunition and will depend on forward guidance
01[10:09] {&Threei}  and:
01[10:09] {&Threei}  (US) Fed's Evans (dove, FOMC voter): The current situation in the US, with low inflation and high unemployment, calls for more accommodative monetary policy
[10:10] {dino} safm sm l ave .76 thinny
01[10:10] {&Threei}  folks... when this administration is done with you, you might want to immigrate to Uzbekistan or something
[10:10] {nemo} Chechnya
[10:10] {dino} was thinking canada
[10:11] {Will49} can't bring your gun dino
[10:12] {Will49} nemo is on our no fly no drive no walk list now
[10:14] {+cc_9} ACAD this could be bottom now
[10:15] {Alexs} In Efficiency Wage Models of the Labor Market, Akerlof and coauthor Janet Yellen (his wife) propose rationales for the efficiency wage hypothesis in which employers pay above the market-clearing wage
[10:15] {nemo} more intellectual onanism
[10:16] {Alexs} end of free market capitalism
[10:16] {nemo} well, markets have never been free
[10:17] {dino} why would employers pay above wage?
[10:17] {Alexs} lol
[10:17] {nemo} they pay to supply, substitution theory, and elasticity
[10:19] {dino} jazz hooker
[10:19] {dino} sm l ave .45
[10:19] {Alexs} I'm afraid in a few years we will realize that in 2013 we still had a free market
[10:19] {dino} nonsense nemo, its all nonsense
[10:22] {nemo} theory is, but transactions depend on demand/supply, substitution availability, and elasticity of demand
[10:22] {nemo} basically that's it
[10:22] {dino} mkt spike
01[10:22] {&Threei}  I am afraid you are very correct Alex
[10:23] {cipher} REGN l 275.30
[10:23] {ese} L infi .41
[10:23] {cipher} out 276.66 +1.36
[10:24] {cipher} shit too soon
[10:24] {ese} nice one though c
[10:25] {dino} out acad .85 ave +.40
[10:26] {dino} jazz that was
[10:26] {ese} out infi ..60 +.19
[10:26] {dino} gj
[10:27] {dino} out safm ave ,20, +.44
[10:29] {dino} out tol .10, +.30
[10:30] {dino} tsu spike
[10:30] {ese} get the sense the mrkt is tired of least for the time being
[10:31] {nemo} it
[10:31] {nemo} it's waiting for you to log out ese
[10:31] {dino} could be a trap ese
01[10:32] {&Threei}  my take:
[10:32] {ese} either or............i know it's all about's out to get me.....just like nemo
[10:32] {nemo} indexes at their weekly S2
[10:32] {nemo} or should I say "there"?
[10:32] {dino} slowing down here, mind tired
[10:32] {ese} lol
01[10:33] {&Threei}  long term, market is very happy about new Fed chairman, extreme dove, and can't wait to skyrocket as soon as current hurdels are cleared,
[10:33] {+cc_9} FB, at last
01[10:33] {&Threei}  short term, market is spooked by possible, even short-lived, default
[10:35] {cipher} REGN S 278.38
[10:35] {ese} thats not a plrblem....cipher and cc....will financially back it......the way they've been trading
[10:35] {cipher} cov 277.01 +1.37
[10:35] {cipher} shit did it again
[10:35] {cipher} too damn soon
[10:35] {cipher} maybe not
[10:36] {Will49} dog
[10:36] {Will49} a term of endearment:)
[10:36] {ese} i took it the other way
[10:43] {nemo}'s a frickin
[10:43] {nemo} Fed Day
[10:43] {Will49} now you tell me
[10:44] {ese} whoa...hey dino ADTN
[10:46] {dino} adtn sm l .92
[10:47] {dino} a bit soon
01[10:48] {&Threei}  -(US) White House: Pres Obama would veto House-passed bill which would create bipartisan, bicameral panel to work on deficit reduction, debt limit.
01[10:48] {&Threei}  soundas about right... just veto anything that comes from the other side
[10:48] {ese} gonna try it here L .76 adtn
[10:49] {dino} out adtn .75 -.17
[10:49] {dino} lowers giudance
[10:49] {dino} lol spelling
01[10:49] {&Threei}  spelling? I just tried to pronounce that... my tongue is broken in three places!
[10:50] {ese} stopped .48-.27 holy cracken
[10:50] {ese} doodley
[10:50] {dino} lol
[10:51] {ese} 300 shs ........good thing would have scared the crap out of me otherwise
[10:52] {cipher} TNA s.40
[10:52] {cipher} SDS l .78
[10:52] {dino} had 400 here
[10:53] {ese} Bastard look at that thing now
01[10:53] {&Threei} Short Setup: GLSD  .40 break
01[10:53] {&Threei}  GLD
01[10:53] {&Threei}  If holds  .50
[10:54] {+cc_9} ese, now that you're out, it should go
[10:54] {ese} it is
[10:54] {dino} and it did
[10:54] {ese} Look at it
[10:55] {+cc_9} 0 read on the indexes today, bounce flush, bounce flush
[10:55] {+cc_9} IWM back to lows
[10:55] {cipher} die SPY
[10:57] {+cc_9} ACAD 50% haircut in 48 hours
[10:57] {+cc_9} and so is the life in biotech world
[10:57] {nemo} whoa, dark pool gld trade
[10:57] {ese} L 01
[10:58] {ese} adtn
[10:58] {ese} out .16
[10:59] {cipher} ES target 1650
[10:59] {ese} ok......i ll take that
[11:02] {nemo} now do we enter the Fed tradewinds
[11:05] {cipher} cov TNA .08 +.32 not working as expected
[11:06] {cipher} now that I'm out it's working
[11:07] {+cc_9} seesaw
[11:07] {dino} lod
[11:09] {cipher} ES at target damn
[11:09] {cipher} [11:00] {cipher} ES target 1650
[11:09] {nemo} this is impressive for a Fed day
[11:09] {cipher} SSO L .33
[11:09] {cipher} for a scalp
[11:10] {nemo} if this doesn't work, lotsa' support at 164.70ish spy
[11:10] {cipher} expecting only 3 pt move on ES
[11:10] {nemo} just sayin'
[11:10] {cipher} and maybe furter slide afterwards
[11:11] {nemo} Fed day cipher
[11:12] {cipher} regardless of FED my tea leaves usually don't fail me
[11:12] {nemo} just sayin'
[11:12] {cipher} just sayin
[11:12] {nemo} is that Hemlock?
[11:13] {cipher} nor working
[11:13] {nemo} Hemlock it is
[11:13] {cipher} SSO stopped +.01
[11:14] {cipher} who pressed the down elevator button?
[11:14] {nemo} Yellen
[11:14] {cipher} damn dogs
[11:15] {cipher} need a good flush
[11:15] {cipher} then we go up
[11:16] {cipher} agreed nemo?
[11:16] {nemo} test 165 resistance
[11:16] {nemo} think 81.18 a good bid on sso
[11:17] {cipher} yeah agreed
[11:18] {nemo} two caveats here, iwm and finnies haven't reached the WS3
[11:18] {nemo} spy has
[11:19] {nemo} wll vad
01[11:20] {&Threei}  chart is right... hate the spread
[11:20] {cipher} below 81 maybe SSO
[11:20] {nemo} I'm watching for the finnies to line up with it
[11:21] {cipher} here's the final flush imo
[11:22] {nemo} finnies not ready
[11:22] {+cc_9} we need a massive plunge
[11:22] {nemo} watch 64.15-.25 on fas
[11:24] {cipher} sso l.10
[11:24] {cipher} tna l .46
[11:25] {cipher} that was it
[11:25] {nemo} that was a nice catch
[11:25] {cipher} gotta be quick on trigger
[11:25] {cipher} ES target 5 pt min
[11:25] {cipher} to the upside
[11:26] {cipher} enjoy the ride
[11:30] {cipher} some on SPY
[11:30] {cipher} come on
[11:31] {cipher} out SSO .50+.39
[11:31] {cipher} out TNA .94 +.48
[11:32] {cipher} ES at target
[11:32] {cipher} all out
[11:32] {cipher} anyone took the trade?
[11:35] {cipher} I guess I got my answer :)
[11:35] {cipher} lol
[11:35] {cipher} ok folks, it's been fun
[11:35] {cipher} cya tomorrow
01[11:36] {&Threei}  take care cipher
[11:43] {nemo} hpq spiking
06[11:45] * Les slaps nemo around a bit with a large trout
[11:46] {Les} first strike bitch
01[11:46] {&Threei}  lol
01[11:46] {&Threei} Short Setup: GLD  .50 break
[11:46] {nemo} wife didn't use the KY on ya' last night, huh?
01[11:46] {&Threei}  If holds  .60
[11:46] {Les} ouch
[11:48] {RonS} H-P shares jump 6% as CEO says rev to stabilize
[11:48] {Les} cc stop speaking French, you're confusing Nemo more than he usually is
[11:49] {Les} [15:54] {+cc_9} ok mecs, a+ aussi
[11:51] {nemo} you're projecting again
[11:55] {Will49} even god couldn't have caught that drop in GLD
[11:56] {nemo} who do you think started it?
[11:56] {Will49} ha
[11:56] {+cc_9} allez vas-y toi...
[11:56] {robbers} Yeah, Will, I sneezed and missed it.
01[11:57] {&Threei}  anyone got it?
[11:57] {Will49} did you Vad?
[11:57] {goinshort} got it thanks!
01[11:57] {&Threei}  I would if I haven;'t turned to take cup off coffee from wife
01[11:58] {&Threei}  gs :)
[11:58] {Will49} goinshort= god
[11:58] {Alexs} missed it
01[11:58] {&Threei}  well will... look what his name abbreviates to
[11:58] {Will49} ?
01[11:58] {&Threei}  GS
[11:59] {Will49} oh ok i get it now
01[11:59] {&Threei}  :)
[11:59] {goinshort} shorted it at 125.55
[12:00] {robbers} Cheater!
[12:00] {Alexs} does it make sense to get in on recross?
[12:00] {nemo} now it should get quiet into the Fed
01[12:00] {&Threei}  covered some at .45 then?
01[12:00] {&Threei}  as long as 1:1 isn't reached, yes Alex
[12:01] {goinshort} yes    took short on high bar
[12:04] {+cc_9} SRPT massive bounce, walk coming up 46.50
01[12:06] {&Threei}  1:1
[12:08] {ese} am outta here cya tomorrow
01[12:08] {&Threei}  take care ese
[12:12] {dino} gdot sm l .07
[12:13] {dino} ddd sm l .65
[12:27] {Will49} See you guys tomorrow
[12:28] {dino} out gdot .37, +.30
[12:32] {+cc_9} ACAD pushing $21
[12:34] {RonS} gmcr into a gap...
01[12:35] {&Threei} Long Setup:  GLD  .60 breal
[12:39] {RonS} gs hod
01[12:41] {&Threei}  1:1
[12:42] {Alexs} just wanted to ask about stop level lol
01[12:42] {&Threei}  we don't need no stinkin' stops
[12:42] {Alexs} love it
[12:46] {robbers} Half out.
[12:49] {+cc_9} GMCR holy crap
[12:49] {+cc_9} did they get into the biotech business ?
[12:50] {RonS} O outlawed coffee...
[12:50] {Alexs} btfd cc?
[12:51] {RonS} except at sbux cause michele owns 50k shares...
01[12:52] {&Threei}  1:2
[12:59] {dino} gmcr sm l .60
[13:01] {dino} out gmcr .90, +.30 ty idea cc9
[13:04] {robbers} Some excellent calls today, thanks Vad.
01[13:05] {&Threei}  yw sir
01[13:05] {&Threei}  doesn't take us long to bounce back after occassional shellacking, does it
[13:06] {robbers} As you said the other day, sometimes losses come in clusters.  Just have to keep the faith.  And yes, nice bounce-back.
01[13:06] {&Threei}  :)
[13:17] {Les} nemo FSC chart issues?
[13:18] {Les} or is it just me :)
[13:22] {+cc_9} GMCR ripping
[13:25] {dino} out ddd .48, +.90
[13:25] {dino} opps, +.83
[13:26] {nemo} oh, I see I missed the rally
06[13:26] * Les slaps nemo around a bit with a large trout
[13:26] {Les} bit early for booze ain't it
[13:27] {RonS} knocked him out Les
[13:29] {Les} that or it's bunny time ;)
[13:31] {+cc_9} Les, arretes tes conneries
[13:31] {Les} hehehe
[13:32] {Les} je reste un eternal enfant
[13:32] {+cc_9} c'est la seule facon de vivre!
[13:34] {Les} oui, avec une bouteille par soir ça marche
[13:35] {+cc_9} oui mais trop de ca et tu risque de vieillire encore plus vite lol
[13:36] {Les} heh, je suis marrié, ça va ma tuer ici quelques années...
[13:40] {+cc_9} LOL
[13:40] {RonS} ribbit...
01[13:45] {&Threei}  so far, 16,000+ enrolled in Obamacare
[13:46] {RonS} how many w/ chronic illnesses that could not qualify before?
[13:46] {robbers} The website is a cluster-f.  If a private company launched like this, they'd be out of business.  Oh wait, the govt. is out of business.
01[13:46] {&Threei}  no one knows anything
01[13:47] {&Threei}  even this number came from other sources, not from govt
[13:48] {Les} GDX sticking at 24 resistance
[13:48] {Les} cup and handle or potential failure here
01[13:50] {&Threei}  12 min till FOMC minutes release
[13:50] {Les} k
01[14:02] {&Threei} Short Setup: C  .20 break
01[14:02] {&Threei}  If holds  .30
01[14:02] {&Threei}  (US) WSJ's Hilsenrath: FOMC minutes indicate many Fed members were torn on whether or not to taper QE buys
01[14:12] {&Threei}  here is interesting bit:
01[14:12] {&Threei}  - One participant noting that the effects of the federal sequestration appeared to be less pronounced than previously anticipated. However, a number of others pointed to heightened uncertainty about the course of federal fiscal policy over coming months, including the potential for a government shutdown or strains related to the debt ceiling debate, which posed downside risks to the economic outlook.
01[14:13] {&Threei}  this seems to indicate that as soon as debt ceiling debate is over, they'll begin taper
01[14:13] {&Threei}  as they obviously didn't want to add to that uncertainty
[14:15] {dino} i think not, unemployment still too high
[14:15] {Les} dunno, but wouldn't want market participants thinking that vad...
[14:17] {dino} why announce it anyway, just slowly do it
[14:29] {Les} qqqq looking like potential daily shooting star top
[14:33] {dino} out dhi .05, +.25, took all day
[14:33] {+cc_9} you mean QQQ hehe
[14:33] {Les} nah speaking of the volatility
[14:33] {Les} might be bounce time here
[14:34] {Les} buy yer fuckin dip, as you'd say
[14:34] {Les} pardon my french
[15:00] {+cc_9} 10mins before the Tzar makes his intro of the new Fed Chairm-...woman
[15:05] {Alexs} gld long .30?
01[15:06] {&Threei}  hmm
01[15:06] {&Threei}  not sure
[15:08] {nemo}
01[15:12] {&Threei} Long Setup:  TNA  58 break
01[15:12] {&Threei}  If holds  .90
01[15:14] {&Threei}  nah
[15:18] {+cc_9} Obama "thanks to this man (bernanke), people are able to keep their homes"
[15:18] {+cc_9} HAHA
01[15:18] {&Threei}  sigh
01[15:18] {&Threei}  this gang won't quit until nothing but scorched earth left
[15:19] {Les}
[15:19] {Les} Aussie response to all those whinging home owners
[15:21] {Les} speaking of whingers
[15:22] {Les} working security today at regional unemployment office where people are becoming less polite bumming off the state
[15:22] {Les} people rolling up in new mini mercedes to lodge claims and paperwork
[15:23] {Les} I clearly haven't learned how to skim the system correctly
[15:24] {Les} people bitching that they're not receiving enough, while checking messages on their Iphone. frik me
[15:25] {Les} won't be pretty when the state goes broke
[15:27] {nemo} wow HIG
[15:28] {RonS} Apollo, JC Flowers expected to bid for Hartford's Japan unit -sources
01[15:29] {&Threei}  (US) Fed Chairwoman nominee Yellen: Pledges to fulfill the Fed's dual mandate if confirmed as chairwoman, more needs to be done to help the recovery
01[15:29] {&Threei}  *facepalm*
[15:29] {nemo} print money keep interest rates low,'ve been doing that, and....
01[15:32] {&Threei}  (US) DBRS rating agency places United States rating on review with potential negative implications
01[15:32] {&Threei}  someone wants their offices raided it seems
[15:33] {nemo} here comes the 3:30 rally
01[15:33] {&Threei} Short Setup: GLD  126 break hl
01[15:33] {&Threei}  If holds  .10
[15:34] {+cc_9} ADTN, GMCR, FB, all btfd plays
[15:34] {+cc_9} ACAD was the failure of the day
[15:35] {Les} HIG hesitating  at .50
[15:36] {nemo} swing high
01[15:36] {&Threei}  1:1
01[15:46] {&Threei}  wow...
[15:47] {+cc_9} EOD dive
[15:47] {+cc_9} IWM clobbered last 15
01[15:47] {&Threei}  I am long aware of these trends but never thought they were this close in time and strong (providing articles state real numbers of course)
01[15:52] {&Threei}  Ok guys, no time left
01[15:52] {&Threei}  and no reason for new trades
[15:52] {Les} a+
01[15:53] {&Threei}  thank you all, have a great evening
01[15:53] {&Threei}  see you tomorrow
[15:54] {dino} gn all, thx for ideas