Market Week Wrap-up

TradeTheNews.com  Weekly Market Update: Markets Set Aside Latest Uncertainties, S&P500 Hits New Highs

- The eventful first quarter of 2013 came to a close this week, marked by key US equity indices hitting all-time highs. The rally that began in mid-November is on track, supported by investor enthusiasm for the accelerating pace of the US economic recovery and ongoing support of central bank stimulus. On Thursday (US equity trading was closed for Good Friday) the S&P500 topped its all-time closing high of 1,565 from October 2007, after rising 10% since January 2nd. The DJIA was up approximately 11.2% over the same period, while the Nasdaq was up a more modest 5.3%, weighed down by Apple's 13% decline. Economic recovery drove WTI crude prices up 5.9% in Q1 and natural gas prices rose 20%. Headlines this week were dominated by the crisis in Cyprus, where the eight-day enforced banking holiday came to an end on Thursday. Cyprus and EU officials managed to hammer out a bailout compromise and prevent run on the banks, but few expect that to be the end of the story. Italy still lacks a government after talks on forming a coalition between the right and the left failed. French and German equity markets closed out the quarter flat, while the FTSE100 gained 6%. In Asia the Nikkei was up a whopping 17% as the Japanese government continued its highly liquid campaign against deflation, while the Shanghai Composite was flat as fears about the real estate bubble cancelled out the better overall economic outlook. For the week, the DJIA rose 0.4%, the S&P 500 gained 0.8% and the Nasdaq rose 0.6%.

- Fourth quarter US GDP was revised higher in the third and final reading, to +0.4%. Note that this is the second revision higher, after an advance reading of -0.1% and a preliminary figure of +0.1%. The upward revision was primarily due to nonresidential investment, which increased 13.2% in the third estimate versus 9.7% in the second estimate. Some parts of durable goods data for February were pretty decent, including the headline +5.7% figure, which was a big improvement from January's -3.8% decline. Transportation was a big contributor, as ex-transport the Feb numbers were negative, versus a 2.9% gain in January.

- The Eurogroup and Cyprus worked out a bailout compromise last weekend. The new deal dropped bail-ins contributions from bank accounts with less than €100K and included significant banking system restructuring. Laiki Bank will be wound down, deposits of less than €100K will be protected and accounts over €100K will be frozen and taxed. It still remains how big the haircut will be, although an 80% figure was bandied about late in the week. The deal secured continued ELA funding for Cyprus banks from the ECB. Restrictive capital controls came into effect when the banks reopened on Thursday: depositors were only allowed to withdraw a maximum of €300 per day, no checks could be cashed and individuals could take no more than €3,000 out of the country. The feared bank runs did not materialize on Thursday thanks to the controls.

- The Italian political crisis deepened this week as the center-left group led by Bersani failed to form a government after negotiations with Berlusconi's rightist coalition broke down. Meanwhile, Beppe Grillo's Five Star movement promised to oppose any Bersani government, no matter what the makeup, in a confidence vote. On Thursday, President Napolitano retracted Bersani's mandate. Analysts believe some form of technocratic government will be put in place and new elections could be called as soon as June. Bond investors are starting to get nervous about the situation: the bid-to-cover in the Italian five-year auction on Wednesday was the lowest in over a decade.

- Warren Buffett swapped his financial crisis-era warrants in Goldman Sachs for stock, making Berkshire Hathaway one of Goldman's top ten holders. Instead of exercising the warrants, which would cost Berkshire money and dilute the bank, Goldman will give Berkshire shares reflecting the difference between the warrants' original exercise price of $115 and the average closing price of Goldman's stock for the 10 trading days up to October 1, or just shy of 10M common shares.

- The Dell board received two alternative acquisition proposals on Monday, following the expiration of the go-shop period for the company's going-private deal. Blackstone is offering shareholders $14.25/share in cash while Carl Icahn is offering the equivalent of $15/share in cash. The Michael Dell/Silverlake buyout was $13.65/share in cash and equity, in a total deal worth $24.4B. Michael Dell is reported to be willing to explore the possibility of working with third parties regarding alternative offers, while Icahn has said he would be open to joining forces with Blackstone.

- Blackberry (formerly Research-In-Motion) surprised investors with a solid profit in its Q4 versus expectations for yet another loss. Margins were very strong thanks to higher selling prices and cost cutting. The firm was very positive about initial results for its new Z10 handset, disclosing that one million units were shipped in the quarter, of which as much as 75% have already been sold.

- EUR/USD moved back above its 200-day moving average around 1.2870 last Friday as Cyprus and its European partners moved closer and closer to a bailout deal. The pair was firmly back above 1.3000 by Sunday evening and through early Monday morning. However, midway through the US session on Monday morning, Eurogroup Chief Dijsselbloem made a gaffe that bowled over the euro and will likely come back to haunt the eurozone at some period in the future. Dijsselbloem stated that the Cyprus bank restructuring program - including its extraordinarily controversial depositor bail-ins - could be used as a "template" for the rest of the EMU. EUR/USD gave up two big figures within a few hours, dropping right below its 200-day MA, where it remained all week. The apparent end of negotiations between the center-left and center-right groups on forming a government in Italy on Wednesday further undercut the euro, with EUR/USD making four-month lows around 1.2760.

- The trouble in Europe and risk-off trades ran counter to continuing Japanese efforts to weaken the yen. USD/JPY hit three-week lows below 93.60 on Monday. New BoJ head Kuroda took the reins last Thursday and his first BoJ policy meeting comes next week. In his initial parliamentary testimony, Kuroda reiterated that the BoJ would do whatever it takes to defeat deflation, in particular targeting longer dated JGBs to push down the yields across the curve. The new central bank governor also affirmed his commitment to reach the 2% inflation target within the 2-year time frame. USD/JPY is headed for its third consecutive week of losses as analysts concede the markets may be disappointed by anything shy of pushing forward the central bank's start of open-ended asset buying program currently not expected to start before January 2014.

- Shanghai Composite hit 3-month lows below 2,340 late in the week as the new China government has moved swiftly to reduce shawdow banking activity which, according to the S&P, reached CNY22.9T or 34% of total loans in the banking industry. China banking regulator CBRC unveiled a series of controls on the sale of wealth management products to bring about more financial transparency and also slow the growth of the overall financing flows. Fitch research estimates the wealth managment component of China's shadow banking system at a hefty CNY13T in 2012. China manufacturing PMI figures for March are set to be released on Sunday evening, as markets await confirmation that the weakness in the February data was an aberration due to the timing of the Lunar New Year.

TradeTheNews

Nemo's Findings week of APRIL FOOLS!!!! 2013

(Course on chart pattern recognition is available now: http://www.realitytrader.com/111trades.html

Am I good or what...damn, my shoulder is gonna' be as bad as Vad's from patting myself on the back so much.  Having said that, no place to go but down from here-well on the being right scale that is. Market can always go up.

Anyway, last week I said we're probably going to see new highs, and we saw historic highs in the SPX futures...the SPY went ex.div a couple of weeks ago, so add back the .70ish cents and you get about 157.55.  My reasoning was fairly simple.  This was not only the last week of the month it was the last week of the quarter.  Not only that, it was Easter/Passover week, that meant no trading Friday and relatively light volume for the week, making it really easy to move stocks around as the week progressed and the volume got lighter.  By the way, with the 401K money coming in Monday night, expect the market to gap up Monday morning...just sayin'...

Of course we had the cluster..er...ahh...celebration, yeah...that was Cypress, which gave Wall Street the perfect excuse to sell down Monday morning to the bottom of the channel created by the low of the 19th and the high of the 18th.  To the markets currently, it's just a tempest in a teapot, but it could be the canary in the coal mine for future actions that will be required to save the European system, at the expense of the slaves...ah serfs....I mean citizens...sheesh.

 Here's the week that was:

I kept one day from the previous week for comparison.  As you can see, we basically finished in the neighborhood of the Weekly R1 and Semesterly R2 on the SPY.  The finnies are still under the highs as are the IWM...but only spitting distance.  There's so much expectation that a pullback is imminent, you have to think it isn't.  Bill Cara is on record saying we're probably going ballistic. 

In the larger environment you have a probably more precarious than it seems banking environment in Europe and arguably recessionary economic conditions, which are contributing to a strengthening of the dollar.  Talk about a present for Bennie B.  He can print to his heart's content needing to counteract the strengthening dollar to keep the buck competitive. 

Bigger question, as I stated a few times, I think, of recent:  How does earnings and subsequent guidance play out as we roll into May?  I think we all know inflation is worse than they say.  Energy costs (fuel and food) continue to rise, and it's not like people are making alot more money, although the consumer spending numbers that came in Friday say otherwise (then again, how is that distributed among the various classes), so that would leave less for discretionary spending.  Walmart's results were a shot across the bow of the consumer society.  Climb that wall of worry...

Here's the week that is:

 

No FAS this week.  They're splitting it 1:3 so the values won't be accurate.  I'll update the blog if the charts get organized on Monday. 

 

March 28 2013

Closed the short week on profitable albeit boring day. Scalps worked, longer runs not so much. Normal for the last day before long weekend.


Session Time: Thu Mar 28 00:00:00 2013
[08:46] {ese} hmmmmmmm.......looks like I didn't close this window yesterday
01[08:51] {Threei}  that's not a punishable offense
[08:52] {ese} thank goodness........
[08:53] {ese} I owe you some money
01[08:53] {Threei}  for not closing the window?
[08:55] {ese} I show you in a couple of weeks......but were finally using one of your Butchart Gardens photos for our main page on a new Midnights website
[08:55] {ese} i'll
01[08:55] {Threei}  ah
01[08:55] {Threei}  cool
[08:55] {thomcbell} vad bbry should be wild today
[08:56] {ese} and we will have your name for credits as well
[08:56] {thomcbell} look at that pop from 14.10 back up to 14.65
01[08:57] {Threei}  in two min... impressive
[08:57] {thomcbell} rev number stunk but somehow they posted a profit
[08:58] {dino} gm
01[08:58] {Threei}  margins improved
01[08:58] {Threei}  dino :)
[08:59] {ese} BlackBerry Halted: Reports Q4 +$0.22 v -$0.28e, R$2.68B v $2.90Be- Q4 gross margins 40.1% v 33.5% y/y - Q4 shipments 6M BlackBerry devices v 6.9M q/q; 370K Playbook tablets v 255K q/q - Source TradeTheNews.com
[09:00] {ese} - Outlook: The Company will be increasing its marketing investment in the first quarter of fiscal 2014 in support of the global launch of BlackBerry 10. Including the anticipated 50% sequential increase in marketing spending, the Company believes it will approach breakeven financial results in the first quarter (vs -$0.13e) based on its lower cost base, more
01[09:00] {Threei}  nice buying pressure
[09:06] {thomcbell} shorts cant borrow - report was mixed with some glimmer of hope
[09:06] {thomcbell} not burning through cash
[09:06] {thomcbell} like jcp
[09:09] {cipher} gm
01[09:09] {Threei}  cipher :)
[09:11] {Les} afternoon all
01[09:11] {Threei}  les :)
[09:13] {Les} question for the knowledgeable
[09:13] {Les} yesterday was the last day to paint the tape for end of quarter?
[09:14] {Les} or is it today?
[09:16] {dino} today i think
[09:20] {Will49} gm
01[09:20] {Threei}  will :)
[09:21] {dino} fha allows mortgage borrows in default to refi and extend to 40 years, no docs are required for these new mortgages
01[09:23] {Threei}  over a dollar run in BBRY in 30 min
[09:24] {thomcbell} and traded about 6mm shares in that time i believe - pretty serious
01[09:29] {Threei}  (GR) Greece Syriza Party leader Tsipras: Calls for a referendum on Cyprus bailout - ekathimerini
01[09:29] {Threei}  - The Cypriot people and the people of Europe should have the final choice in deciding their futures.
01[09:29] {Threei}  - Gov spokesperson called Tsipras irresponsible.
01[09:29] {Threei}  lol
[09:32] {Les} FB still holding 26 from yesterday
01[09:34] {Threei} Short Setup: GDX  .70 break
01[09:34] {Threei}  If holds  .80
[09:35] {cipher} MGLN L.17
[09:35] {cipher} out .26
[09:36] {cipher} BBBY L .05
[09:37] {nemo} two way now
[09:39] {cipher} out BBBY -.09
01[09:39] {Threei}  stop to .76
01[09:39] {Threei}  out
01[09:44] {Threei} Short Setup: CAT  .50 break hl
01[09:44] {Threei}  If holds  .60
01[09:45] {Threei}  *(US) MAR CHICAGO PURCHASING MANAGER: 52.4 V 56.5E
01[09:46] {Threei}  horrible report
01[09:46] {Threei}  Prices Paid: 61.0 v 61.8 prior - New Orders: 53.0 v 60.2 prior - Employment: 55.1 v 55.7 prior - Inventories: 41.0 v 50.1 prior - Supplier Deliveries: 58.0 v 50.3 prior - Production: 51.8 v 60.2 prior (lowest since Sept 2009) - Order Backlogs: 45.0 v 50.9 prior
[09:47] {nemo} above 50 is expansion...bad news has been bought...biggest pomo of the month today...BTFD!!!!
01[09:47] {Threei}  out CAT
[09:47] {jdetente} gm
01[09:48] {Threei}  jd :)
[09:49] {nemo} tna good long above .20
01[09:49] {Threei}  BBRY pulling back finally
[09:49] {Les} 88 or 89 nemo?
[09:50] {nemo} right here, but IWM not going up with spy
[09:50] {Les} ah ok
[09:51] {nemo} don't like that
[09:51] {Les} 3 mins still need some work
[09:52] {backman} BBRY bouncing off .75
01[09:53] {Threei} Long Setup:  BBRY  .85 break
01[09:53] {Threei}  If holds  .75
01[09:54] {Threei}  1:1
01[09:56] {Threei} Long Setup:  LVS  .25 break hl
[09:56] {thomcbell} kors long setup 57 break if
01[09:56] {Threei}  If holds  .15
01[09:56] {Threei}  BBRY 1:2
01[09:57] {Threei}  me aiming for 1:4
[09:57] {dino} nice one vad
01[09:57] {Threei}  me greedy
[09:57] {thomcbell} if is wide on kors
[09:57] {backman} i wish u well, master
01[09:57] {Threei}  me likey squeezes
01[09:58] {Threei}  volatility may still be too big to get that
01[09:58] {Threei}  but profit is secured
01[09:58] {Threei}  stop .93 now
01[09:58] {Threei}  ok... not this time yet
01[09:59] {Threei}  LVS, was two-sided in retrospect
[10:00] {backman} I'm thinking FB bounce around .60...just watching
[10:01] {Will49} tks Vad BBRY
01[10:02] {Threei}  yw
01[10:02] {Threei}  it's on watch all the time today
01[10:02] {Threei}  setups will come and go as it moves
01[10:02] {Threei} Long Setup:  BBRY  15 break
[10:02] {Les} yeh me 2 batman pivot .69 can't tell if seeking out new support or game is over
01[10:03] {Threei}  If holds  .90
[10:03] {thomcbell} made sale kors 57.23
[10:04] {Les} backman not batman
[10:04] {backman} les, I answer to either
[10:05] {Les} you one twisted guy BM
[10:05] {backman} :=)...u a quick study
[10:05] {Les} :P
[10:05] {Les} now FB
[10:06] {Les} successful test of support would be nice
[10:07] {thomcbell} flat kors
01[10:09] {Threei} Long Setup:  FB  .80 break
01[10:09] {Threei}  If holds  .70
[10:11] {backman} EBAY...setting up either way
01[10:11] {Threei}  no go BBRY
01[10:11] {Threei}  something isn't right with market
01[10:11] {Threei}  same feekling as couple days ago
01[10:12] {Threei}  feels like jellyfish, no drive, no determination either way
[10:12] {Les} bbry constrained by 15 min bb's and could setup bearish divergence if selling continues
01[10:13] {Threei}  FB no go
01[10:13] {Threei}  not delighted
[10:13] {nemo} Captain Morgan Private Stock
[10:15] {thomcbell} bbry could become a problem for longs now
[10:15] {nemo} esrx weak today, could short here, or wait till it get's back to .80-85 area
[10:15] {Les} all drive lost on FB following squeeze yesterday
[10:15] {Les} short .70?
[10:16] {nemo} your choice
[10:16] {nemo} choose your stop
[10:16] {nemo} size accordingly
[10:16] {Les} GS small dt here potentially
[10:17] {Les} and yet holding vwap support
[10:17] {dino} lulu sm l .00
[10:22] {dino} fb l .81
[10:22] {dino} stop .64
[10:22] {Les} ditto
[10:23] {nemo} whoa, that snail just moved out in front of the SPY
[10:25] {Les} RIG was another squeeze yesterday. broken its downtrend and  testing vwap here
01[10:25] {Threei} Short Setup: JPM  .40 break
01[10:26] {Threei}  If holds  .45
[10:29] {dino} fb to .74, stuck
01[10:34] {Threei}  half out JPM
01[10:34] {Threei}  stop to .41
[10:35] {dino} fb stop -.06
[10:40] {dino} txi drop
[10:41] {nemo} well, don't fight the Fed
[10:44] {cipher} missed txi
[10:44] {cipher} good call
[10:44] {dino} so did i, went at .00 and jumped
[10:46] {dino} unxl
01[10:46] {Threei}  BBRY new try at break
01[10:46] {Threei} Long Setup:  BBRY  15 break
01[10:47] {Threei}  If holds  .90
01[10:47] {Threei}  it should still have the surprise in it for today
[10:49] {ese} in .01
01[10:49] {Threei}  I wouldn't be surprised to see BBRY at 16 and above today
[10:49] {ese} thats my kinda setup there
[10:49] {ese} devined
01[10:49] {Threei}  getting right entry and not getting rinsed is tricky
[10:50] {ese} .01 feels good to me
01[10:50] {Threei}  volume seems to be picking up
[10:50] {ese} yup
01[10:50] {Threei}  15.50 is a biggie
01[10:50] {Threei}  once that is broken, sky is limit
[10:51] {ese} agreed
[10:55] {ese} 55 million shs of this already.......heck of a turnaround for this company
[10:56] {thomcbell} that looks like a long entry here vad
[10:56] {thomcbell} 15.07 break long
01[10:57] {Threei}  1:1
01[10:57] {Threei}  tbell... take me off ignore :)
01[10:57] {Threei}  10:46] {Alert} Threei Long Setup: BBRY 15 break
[10:57] {ese} 1/2 .13 +.12 2k to go
01[10:57] {Threei}  aiming for 1:4 again
[10:58] {ese} stop to even .02
[10:58] {thomcbell} yes - i feel we had another valid entry there
[10:58] {ese} nice call vad tks
01[10:58] {Threei}  with idea that after some consolidation around .50 we will take it long again
[10:58] {Les} just passing vwap here
01[10:58] {Threei}  yw
[10:58] {Les} rig
[10:58] {Les} 52 long?
01[10:58] {Threei}  the rest of today's plays is peanuts, this one is a potential biggie
01[10:59] {Threei}  not sure... a lot of air under RIG
01[11:00] {Threei}  let's go BBRY
01[11:00] {Threei}  fire is ready, put the witch on it
01[11:00] {Threei}  those damn shorters, how dare they
01[11:01] {Threei}  ummm... says the guy whose plays are probably 65-70% short
[11:01] {Les} well at least u ain't emotional about it
[11:01] {ese} lol
01[11:02] {Threei}  me??? emotional??!? I don't eben know what that word means!!!!
[11:02] {Les} oh really
[11:02] {Les} every time I mention bacon
[11:02] {Les} u soughta change
[11:02] {Les} flip even
01[11:02] {Threei}  well... bacon is exception
[11:02] {ese} ahhhhhhhh.....hemmmmmmmm
01[11:02] {Threei}  so is broccoli
[11:03] {ese} your blood looked to be boiling at the cyprus money thing
01[11:03] {Threei}  that's rather sarcastic "heh, here comes the communism again"
[11:04] {Les} LVS trying to take out intraday high
[11:04] {ese} lol
[11:04] {dino} cipher, you finding anything?
[11:04] {Les} nice cup, maybe handle next
01[11:04] {Threei}  I actually resigned to the fact that in this or that form, but socialism will be reborn, will evolve into its ugliest form and my last resort of immigration will be Antarctica
[11:05] {nemo} market should just drift higher into lighter volume, take longs off support
01[11:05] {Threei}  and I hate cold
[11:05] {dino} 3i, atlas shrugged
01[11:05] {Threei}  yup
[11:05] {nemo} don't scare the penguins Vad
01[11:05] {Threei}  so I will just take last stand at the door with machine gun, and go out blazing
01[11:06] {Threei}  guns blazing
[11:06] {ese} rotflol
[11:06] {nemo} you don't own any guns Vad
[11:06] {nemo} that reminds me...
[11:06] {ese} oh yes he does
[11:06] {nemo} Vodka AK
[11:06] {ese} it's filled with vodka
[11:06] {nemo} sorry
[11:06] {ese} yup
01[11:06] {Threei}  of course not... I just water my backyard with machine oil for some unknown reason
[11:07] {nemo} Vad was raised near a Ukranian nuclear plant
[11:07] {Les} lol guns blazing... don't put a light near vad as he guzzles the vodka...
01[11:07] {Threei}  which btw reminds me how my tongue gets me in troubles... a few days ago, gathering for neighbor block watch program
01[11:08] {Threei}  guy from police explains how it works,
01[11:08] {Threei}  says at some point
01[11:08] {Threei}  Your cul de sac is very secure and quiet, we had never had any alerts or calls or troubles from here
01[11:09] {Threei}  everyone nods,
01[11:09] {Threei}  but I had to open my big mouth
01[11:09] {Threei}  and say:
01[11:09] {Threei}  of course not, we are good neighbor, we help each other hide bodies
[11:09] {Les} :)
[11:09] {Les} how goes that sense of humour with canadian police?
01[11:10] {Threei}  30 min later when we move to coffee and snacks, I hear him quietly asking the host
[11:10] {nemo} oh jeez
01[11:10] {Threei}  "he is russian, judging by accent, right? no troubles with him?"
[11:11] {Les} gangster tatooed on yer forehead
01[11:11] {Threei}  well, my neighbor is a great guy, we are good friends, but his sense of humor is quite warped too
[11:11] {Les} would make a fine Australian
01[11:11] {Threei}  he says: no, what troubles, we buried all troubles in my backyard long ago and he behaved ever since
[11:12] {dino} lol
[11:12] {dino} is that an excavator i see approaching your house?
[11:12] {nemo} don
[11:13] {nemo} don't forget the lime, problem is, when the body decays, the ground sinks
[11:13] {nemo} you need to make the hole big enough to fill it with cement several inches above and around the body
[11:18] {dino} ebay sm l .69
[11:20] {backman} CAT pukage...around 87
[11:21] {cipher} EBAY S .82
[11:21] {cipher} cov .76
[11:22] {cipher} dino txi
[11:22] {cipher} are you still in?
[11:24] {dino} lulu to .34
[11:24] {dino} cipher, i missed it
[11:25] {dino} tighten lulu to .38
[11:25] {cipher} thought you got in at 00
[11:26] {dino} missed at .00, then on 2nd drop was at .85, figured re-test, no fill. idiot i am
[11:26] {cipher} same here, makes both of us :)
[11:27] {cipher} trade of day day
[11:27] {cipher} the
[11:27] {dino} unfortunately
[11:27] {dino} out lulu .42, +.42
[11:27] {cipher} wtg
[11:28] {dino} thx, past week good support lulu 61.80s
[11:29] {dino} ebay to .79
[11:29] {backman} CAT 2:1
[11:29] {dino} gj batman
[11:29] {Les} nice bman forgot about it
[11:30] {dino} damn, too tight lulu
[11:31] {dino} out ebay, +.10
[11:32] {backman} lvs
[11:32] {jdetente} lulu...too tight...hmmmm
01[11:32] {Threei}  rofl
[11:32] {dino} ;-)
[11:32] {Les} waiting closer to cup and handle setup bman lvs
[11:32] {dino} ksu spikey
[11:33] {nemo} spy looking like a pullback
[11:33] {backman} jd, i can see right through that comment
[11:34] {jdetente} I fear everyone can
[11:34] {Will49} let's have some transparency here
01[11:34] {Threei}  hiccups starting here
[11:34] {dino} downward dog
[11:34] {backman} u guys are a sheer delight
[11:34] {jdetente} dino...lol!!
[11:34] {Will49} LOL
[11:34] {nemo} even Les?
[11:35] {backman} oops, thanx for reminder :=)
[11:35] {nemo} just don't do it again
01[11:35] {Threei}  good thing I didn't have any surgery over last 10 years, stitches would surely be tearing up right now
[11:36] {nemo} downward dog, at my age I just want to sit back and see the top of their heads
01[11:36] {Threei} Short Setup: CAT  87 break
[11:36] {dino} roflol
[11:36] {nemo} with a drink in my hand
[11:36] {nemo} speaking of....
[11:37] {nemo} almost noon
01[11:37] {Threei}  I could hear that gulp
[11:37] {cipher} SBAC S.50
01[11:37] {Threei}  1:1
[11:38] {cipher} +.11 cat thx
01[11:38] {Threei}  :)
01[11:38] {Threei}  grabbing easy money while exchanging off-color jokes... life can be good
[11:39] {Les} yeh great, while I am butt of Nemo's jokes...
[11:39] {Les} :P
[11:39] {backman} is that another LULU joke, Les?
01[11:39] {Threei}  LULU is a new VVUS
[11:40] {cipher} cov SBAC .44 +.06
[11:40] {Les} see through butt yeh bman...
01[11:40] {Threei}  gosh, that one was an unexhaustible source of jokes
[11:40] {Les} recall me
[11:40] {backman} wonder if fb breaks strong above .60
[11:41] {Les} so what happened to lulu thingy?
[11:41] {Les} Taiwanese manufacturer made to specification and LULU went too risque?
[11:41] {Les} or manufacturing stuff up..?
[11:42] {dino} bend over=see thru
[11:42] {Les} i've yet to see a see through LULU butt
[11:42] {Les} In europe that's the fashion
[11:43] {nemo} wish I had gotten into yoga instead of Qi Quong
[11:44] {Les} I wish my yoga partners would spend on sexier gear
[11:44] {Les} i'd go more frequently
[11:44] {dino} ebay re-load .98, gut says thing wants up
01[11:44] {Threei}  here kitty kitty
[11:45] {nemo} been weak today and is at vwap now dino
[11:45] {dino} i see it.....gut
01[11:47] {Threei}  quite amazing... headline is so soothing: No bank run in Cyprus
01[11:47] {Threei}  text however adds:
[11:47] {jdetente} Les...the good thing about spending time in Los Angeles is the endless amount of LULU-clad women
01[11:47] {Threei}  The banks re-opened at 6 AM ET, but so far there are no signs of bank runs, most likely due to the restrictive capital controls enacted by Cyprus - depositors are only allowed to withdraw a maximum of �300 per day for the next week, in addition to a slew of other restrictions.
[11:48] {Les} and armed guards with armoured vehicles
[11:48] {dino} hard to have a run if only 300 limit
[11:48] {Les} guess why homeland bought 2000 vehicles?
01[11:48] {Threei}  I don't know why they dress up that heavily considering the climate, jd
[11:49] {cipher} re-short SBAC .50
[11:49] {jdetente} especially in the next few months Vad...hehe
01[11:49] {Threei}  yeah... bikini seems overdoing it
[11:50] {jdetente} there are certain beaches where that's optional
[11:50] {Les} :)
[11:50] {jdetente} usually populated by those who should wear parkas
01[11:50] {Threei}  that was my next question, lol
01[11:51] {Threei}  BBRY stopped on a trail
[11:51] {cipher} RYAAY L.32
01[11:52] {Threei}  problem with those beaches: I don't want to go there until they install age limit so no one above certain age can enter... but then I won't be able to enter either
[11:52] {jdetente} catch 22
01[11:52] {Threei}  yup
[11:53] {dino} ebay to b/e
[11:55] {dino} catch something
[11:56] {cipher} cov SBAC .55 -.05
[12:01] {dino} out ebay flat, vwap was much more than it could bear
[12:01] {dino} brb
[12:05] {nemo} today reminds me of Neil Young's introduction to a song off the 4-Way Street Album.  "It starts off kinda' slow, and fizzles out all together..."
[12:06] {ese} been on the phone just about all morning......I can see it ain't gonna change so we'll catch you all monday...have a great long weekend
[12:06] {backman} u 2
01[12:06] {Threei}  have a good one ese
[12:06] {Les} ciao
[12:06] {ese} tks vad cya
[12:06] {ese} les
[12:07] {jdetente} Nemo...or the song lyric... "It's better to burn out than to fade away"
[12:08] {nemo} well...that was from the 78 album, and he was implying going out with a bang
[12:08] {jdetente} hehe yeah. Big Neil Young fan personally
[12:09] {nemo} Yeah, knocked him on his ass by accident in '86
[12:09] {nemo} Don't think he's a fan of mine
[12:09] {jdetente} I would guess not.
[12:09] {jdetente} I was actually just listening to Zuma this morning
[12:10] {nemo} funny thing...did that to Jean Claude Killy too in 84
[12:10] {Les} LVS nice drop
[12:10] {nemo} APA might be worth a short here
[12:14] {nemo} wow DE
[12:18] {nemo} bounce play to vwap here perhaps
[12:18] {dino} de sm l .20
[12:19] {dino} bit soon
01[12:20] {Threei} Short Setup: CAT  .80 break
01[12:20] {Threei}  If holds  .90
[12:21] {nemo} DE almost looking better here
[12:23] {Les} l for the db in DE .02
[12:23] {nemo} be out at the lows, this could be looking to test that March 25th low
[12:24] {Les} and stopped
[12:24] {dino} lnn-sanity. drops again
[12:24] {nemo} proud of yourself, aren't you...
[12:25] {dino} a bit
[12:25] {nemo} is that a mirror or monitor in front of you?
01[12:26] {Threei}  1:1
[12:34] {dino} wgo
[12:36] {dino} sm l .78
[12:37] {Les} de nice finse
[12:38] {Les} DE rinse
[12:38] {Will49} is that the kind of French they speak in Switzerland?
[12:39] {Les} slight improvement over French Canadian
[12:39] {Les} but not by much
[12:39] {nemo} Will, you're asking a frickin' wombat poker from down under about French....sheeesh
[12:39] {Les} SLW .10 short?
[12:40] {Will49} shrug
[12:40] {Les} yeh I speak french real good.... lol
[12:40] {nemo} That actually boggles my mind that any self-respecting wombat would let him anywhere near them
[12:40] {Will49} your english isn't so hot
[12:41] {nemo} Oh Gawd I need a drink
[12:41] {Les} not needed here ain't it?
[12:41] {Les} ;)
[12:41] {nemo} APA
01[12:43] {Threei}  can't really tell SLW
01[12:43] {Threei}  no drive
01[12:43] {Threei}  jellyfish hanging from flagpole in windless calm
[12:43] {dino} pall drop
[12:43] {nemo} sheila
[12:43] {nemo} that's an image
[12:43] {Les} oh go have yer drink
[12:46] {thomcbell} kors a bit sharp adcance but looking for  a long entry
[12:46] {thomcbell} kind of a nutty trader
[12:46] {dino} every time i read kors, my mind thinks coors
01[12:46] {Threei}  and mine curse
[12:46] {thomcbell} incorrigible
[12:47] {Les} your neighbour is right vad
[12:47] {Les} a little warped
01[12:47] {Threei}  a little? thank you!
[12:47] {thomcbell} all i can think about is this guy turned into a billionaire virtually overnight
[12:48] {nemo} watch this guy hit the bag, his eyes blink when he throws punches, and he looks away from his target when he throws kicks...you've got to be kidding me:  http://bit.ly/10cRH2s
[12:48] {thomcbell} have a good weekend all - im calling it a day, week, month and quarter
[12:48] {dino} cwh sm l .50
[12:49] {Will49} take care Tbell
[12:49] {Les} cheers t
[12:49] {backman} success
01[12:49] {Threei}  have a good long weekend tbell
[12:49] {nemo} oh, not to mention he barely moves the bag...wtf
[12:50] {Les} nice one on cwh
[12:50] {nemo} DE could be long break of .20
[12:51] {nemo} see that volume spike on the doji
[12:51] {dino} cya tbel
[12:52] {nemo} nope
[12:52] {Les} looks good Nemo, sells a story
[12:52] {Les} yer shaolin fella
[12:53] {dino} out cwh .80, +.30
[12:54] {backman} nicely dun
[12:54] {dino} ty
[12:54] {dino} takeover rumor
[12:56] {nemo} yeah...he's got all the props
[12:57] {nemo} I like that nice flimsy halbard
[12:57] {nemo} pick a real one up, it's a big, thick piece of steal on a very sturdy pole
[12:57] {dino} ebay stops me flat and runs .70. must trust the gut
[12:57] {nemo} steel
[12:57] {nemo} homonyms are my waterloo
[12:58] {cipher} PALL +.50 thx dino
[12:58] {dino} nice
[12:58] {dino} wide one huh
[12:59] {cipher} doesn't get anymore pulpy than that :)
[12:59] {dino} but then again, pulp is what we like
[12:59] {cipher} some dumb ass shorter got caught on the wrong side
[13:00] {cipher} was bidding desperately all the way up
[13:00] {dino} thay are a needed factor
[13:00] {dino} lol
[13:00] {backman} APOL blasted thru 17.14 wo me:=(
[13:01] {dino} txi lod
[13:02] {cipher} out RYAAY .56 +.24
[13:02] {cipher} this one took over an hour
[13:02] {dino} in .99
[13:02] {dino} txi
[13:03] {cipher} new personal record
[13:03] {Les} DE
[13:03] {dino} de stop -.35
[13:08] {nemo} if it's gonna bounce it will be here else we test 85
[13:09] {nemo} volume coming in
[13:10] {dino} break of .50 imo
[13:10] {nemo} they're gonna push it down
[13:10] {dino} yeah, see it
[13:11] {dino} just f'ing w/it
[13:11] {nemo} low volume afternoon you can do anything
[13:13] {Les} RIG short .99 for potential triple top
[13:13] {Les} stop .06
[13:15] {nemo} wow, tna barely 2 million shares
[13:16] {nemo} SPY almost 44 mil...oy
[13:16] {dino} de sm l .53
[13:17] {Les} 1:1
[13:32] {dino} zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz
[13:38] {dino} wgo stop .52, -.26
[13:42] {Les} RIG 1:2
[13:57] {dino} wgo sm l .33 stop lod
[14:15] {Les} Nemo, u alive and present?
01[14:15] {Threei}  he is presently alive {G}
[14:15] {Les} currently u mean?
[14:16] {Les} :)
[14:16] {Les} if and when u read this can u link me to Alex's Russian origin vids in youtube pls
[14:18] {Les} impossible to find Anatole's MA demo's in english
[14:18] {Les} last part RIG stopped at .86
[14:24] {nemo} He hasn't done them in English yet
[14:24] {Les} can u link me. will keep them in bookmarks this time
[14:24] {dino} wgo to .63
[14:24] {nemo} link u with what?
[14:25] {Les} those utube vids u showed me once
[14:25] {Les} all in Russian
[14:26] {nemo} whoa, he put the eye-opening ceremony up from New Years
[14:26] {nemo} http://bit.ly/Yi2dHo
[14:30] {dino} out wgo .63, +.30
[14:31] {Les} interesting opening eye ceremony burning in the bowl like in Aikido
[14:31] {Les} buddhist origins?
[14:33] {Les} ah cool he put all his vids togethor
[14:38] {dino} txi stop .67 -.32, slipped .12 on me
[14:38] {dino} hitmisshitmiss patern
[14:38] {nemo} no pre-buddhist
[14:39] {dino} out de .83, +.30
[14:39] {dino} wow txi .70 drop
[14:40] {Les} still in DE dino?
[14:41] {dino} just got out
[14:41] {nemo} Aiki stuff comes from Shinto which is an offshoot of Taoism
[14:41] {Les} k
[14:41] {nemo} through the Fox Creed
[14:45] {nemo} wow IE really messing with me today
[14:45] {Les} not this spamming spat?
[14:46] {nemo} it's having trouble running freestockcharts
[14:46] {Les} down to two screens on FSC 3 is trouble
[14:46] {Les} 2 screens 3 max 4 windows of FSC
[14:46] {dino} no trouble here
[14:47] {nemo} sometimes I have to run the FSC reset
[14:48] {dino} about every two weeks i have to re-start it a few times
[14:48] {Les} FSC reset?
[14:48] {nemo} yeah, it's a utility
[14:49] {dino} ugh ebay!
[14:50] {nemo} lookup fscreset.exe
01[14:51] {Threei}  why don't you try Chrome instead of IE
01[14:51] {Threei}  never any troubles
[14:51] {Les} chrome is terrible for FSC
01[14:51] {Threei}  huh?
[14:51] {nemo} I use both, and Chrome will crapout on me because of Silver,whatever it is
01[14:51] {Threei}  that's all I use, and it never gave me any hiccup
[14:51] {Les} silverlight
[14:51] {Les} hates chrome
01[14:51] {Threei}  not here
[14:52] {dino} chrome/silver, pretty close
01[14:52] {Threei}  lol
[14:52] {Les} would like to know the secret
01[14:52] {Threei}  no secret... I run it, it works...
01[14:52] {Threei}  Win 7 64 bit
[14:53] {dino} unxl drop
[14:53] {Les} frikin engineers. make it sound so easy
01[14:53] {Threei}  (IT) Italy's PD party leader Bersani tells Pres Napolitano that he cannot form a new government- Bersani says consultations this week with other parties on forming a govt were inconclusive, failed to get support for other parties. Other parties demanded unacceptable preconditions. - Italy President Napolitano's office indicates to assess options and make a decision on the next steps for the government. To hold consultations with the various parties on Friday, March 29th starting at 10:00GMT
01[14:55] {Threei}  BlackBerry William Blair making cautious comments, reiterates Market Perform rating- Firm notes BlackBerry reported mixed fiscal fourth-quarter operating results. Pro forma EPS of $0.22 improved by $0.44 sequentially and were $0.53 above consensus estimates. Relative to firms estimates, roughly two-thirds of the upside during the quarter was driven by gross margin, which improved 840 basis points sequentially, to 40.0%; lower taxes accounted for the other third. However, revenue of $2.68B was $145M below consensus estimates and operating expenses were also higher than expected. Smartphone shipments missed Street estimates by more than 1M units and the company lost 3M net subscribers despite selling 1M new BlackBerry 10 devices
[14:55] {Les} selling off hard
[14:55] {dino} unxl partial fill, l .00
01[14:55] {Threei}  BlackBerry CEO: Seeing a lot of interest in the BB10 platform - CNBC interview- Asked if there is any M&A interest in the company says he cannot comment on such matters. - Seeing good sell through of the new BB10 handsets.
01[14:55] {Threei}  interview didn't go very well
[14:57] {Les} sm short of DE at .09 stop vwap .20
[15:00] {nemo} So Les, TNA is gonna' be cut in half on Monday, and FAS will be about $55...NOw it's not because of a bad earnings report, so don't worry
[15:01] {Les} hope it slows down FAS a little
[15:01] {dino} txl sm l .00 break
[15:04] {dino} txi that was
[15:05] {dino} unxl to .33
[15:06] {dino} slip out .27, +.27
[15:06] {nemo} trendline support break on SPY
[15:08] {nemo} well, that didn't last long
[15:08] {Will49} good to see you back, man
[15:10] {backman} thanks....got disc ...working on getting Mirc setup on other computer
[15:10] {Will49} you'll love it
[15:11] {Les} DE stopped. why we wait for DB's
[15:20] {dino} firing up the old 286, huh bman?
[15:21] {backman} atari
01[15:21] {Threei}  commodore 64
[15:21] {dino} lol
[15:31] {dino} unxl drop
[15:31] {backman} i may be jumping in and out, trying to Mirc match....have a good weekend, all
[15:32] {Les} ciao b
[15:32] {dino} u2 bman
01[15:32] {Threei}  have a great one bman
[15:32] {Will49} peace bman
[15:34] {nemo} we should gap up on Monday, they have to give Mutual funds high prints
[15:34] {dino} out txi .13, +.14
[15:36] {nemo} big POMO on Monday and Wednesday
[15:36] {nemo} then on the 16th
01[15:43] {Threei}  BBRY unable to even close in green?
01[15:44] {Threei}  not good
01[15:44] {Threei}  expected much more of it
01[15:50] {Threei}  closing at new highs... sheesh
01[15:50] {Threei}  can you imagine how badly this is going to end? :)
01[15:50] {Threei}  we are not there yet of course... but I am already salivating
[15:51] {dino} wtf txi!
[15:51] {dino} stops me and runs .70
01[15:55] {Threei}  don;t you hate when they do that
01[15:55] {Threei}  and for jd and will information, hate is not an emotion {GGG}
[15:55] {dino} YES
[15:55] {Les} GS telling us something different than new highs?
[15:56] {dino} anyway, calling it a week, thx all, decent one
[15:56] {Will49} enjoy the long weekend everybody :)
[15:56] {Les} ciao
01[15:56] {Threei}  just that finnies are weak
[15:56] {jdetente} it's a thin line between love and hate Vad
[15:56] {jdetente} :)
01[15:56] {Threei}  however important this sewctor is, I still don't buy the idea that it's a total bellweather
01[15:57] {Threei}  it sure is - just one winning entry eparates them :)
01[15:57] {Threei}  okay guys, thank you all
[15:57] {Les} cheers
01[15:57] {Threei}  short week, not too exiting
01[15:58] {Threei}  but we made the best of it, what with all the new grounds in jokes department
[15:58] {jdetente} have a good long weekend everyone
01[15:58] {Threei}  see you monday
[16:00] {nemo} wow talk about pulling bids
[16:01] {nemo} look at this shit

March 27 2013

Much better day as we adjusted to changing conditions. Once again. Never-changing process. Tomorrow  keep an eye on BBRY - this thing might be setting up for a short squeeze, with earnings day and 30% of its float shorted.


Session Time: Wed Mar 27 00:00:00 2013
[09:06] {dptl}  gm
01[09:06] {Threei}  dp :)
[09:06] {Les} morning
01[09:06] {Threei}  les :)
[09:07] {thomcbell} gm all
[09:07] {Les} reviewing yesterday's trading vad
[09:07] {Les} was reasonably happy with performance
[09:07] {Les} one issue I noted
01[09:07] {Threei}  tbell :)
[09:07] {Les} would be take scalps and scrap partialling
[09:07] {Les} 3 partials stopped out for half was too many
[09:08] {Les} you spoke with tbell or dj about protecting profits. What was the story?
01[09:08] {Threei}  yup, nornal for narrow low volume day
[09:08] {dino} gm
01[09:08] {Threei}  dino :)
01[09:09] {Threei}  http://blog.realitytrader.com/2011/10/profit-how-do-you-handle-it.html
[09:09] {cipher} gm
01[09:09] {Threei}  cipher :)
[09:10] {Les} so u try to hold 75% of what was made while the going was good, is that it?
01[09:10] {Threei}  you want me to read it? :)
01[09:11] {Threei}  I linked it so YOU read it, not me :)
[09:11] {Les} stop on my account... rule of thumb is 75%
[09:11] {Les} clarify that please
01[09:11] {Threei}  it'as a trailing stop
[09:11] {Les} maintaining 75% of previous profit made?
01[09:11] {Threei}  no
[09:11] {nemo} what link?
01[09:11] {Threei}  http://blog.realitytrader.com/2011/10/profit-how-do-you-handle-it.html
[09:12] {nemo} liquor store, women,  errr....cars
[09:12] {Les} lol Nemo
01[09:12] {Threei}  it's not necessary kicking in right away after the first trade
[09:12] {Les} yeh, but gotta hold the day's takings until end of session
01[09:13] {Threei}  and when it does, it changes with each next trade
[09:13] {jdetente} good morning all
01[09:13] {Threei}  just as trailing stop does
01[09:13] {Threei}  jd :)
[09:14] {Les} ok will have to put that into practise
[09:14] {Les} ty
[09:14] {Les} should have done that before the C trade and would have walked away
[09:15] {Les} at least Aikido serves well on such days as yesterday
[09:19] {dino} db blood
[09:19] {dino} .
[09:20] {Will49} gm
01[09:21] {Threei}  will :)
[09:21] {dino} cyprus finance minister- we will look for best way to limit large sums of money leaving
01[09:21] {Threei}  of course
[09:21] {nemo} they hired Dyncorp to help with bank security
01[09:21] {Threei}  late night yesterday they said "haircut" might be up to 80%
01[09:21] {Threei}  I'd rather call it decapitation
[09:21] {Les} money already fled prior to signing agreement. someone was in the know and given preferential treatment
[09:21] {nemo} Dyncorp is the largest private "military"
[09:21] {nemo} in the world
[09:22] {Les} US mercenaries on EU soil hey...
[09:22] {nemo} US company, mercs from all over
[09:22] {nemo} coming to a European country near you
[09:22] {nemo} Why do you think Homeland Security just bought 2700 armoured vehicles
01[09:24] {Threei}  hah!
01[09:24] {Threei}  (EU) Portugal Sec of State Guedes: There is absolutely no risk that the Cyprus solution could be applied to other eurozone nations
[09:24] {backman} gm
01[09:25] {Threei}  bman :)
01[09:26] {Threei}  BBRY shorts at all time high, reach 30% of float
[09:27] {Les} sounds like FB from a few months ago
01[09:27] {Threei}  and earnings tomorrow
01[09:27] {Threei}  that's what I am thinking
01[09:27] {Threei}  short squeeze material, even if earnings are so so
[09:28] {Les} Greece index dropping hard
[09:28] {Les} the nightmare returns to EU street
01[09:29] {Threei}  JPM looks to be a short candidate
[09:29] {ese} gm
01[09:29] {Threei}  hopefully will consolidate between .10 and .20 for couple min
01[09:29] {Threei}  ese :)
01[09:31] {Threei}  no such luck
[09:31] {nemo} spy fas at yesterday's  pivot
[09:32] {dino} clf spanked again
01[09:32] {Threei} Short Setup: C  .50 break
[09:32] {ese} fte
01[09:32] {Threei}  too fast
01[09:33] {Threei} Short Setup: JPM  .10 break
01[09:33] {Threei}  If holds  .20
01[09:34] {Threei}  daily looks horrific
01[09:34] {Threei}  1:1
01[09:34] {Threei}  1:2
[09:34] {Les} beautiful
01[09:34] {Threei}  ah thank you
01[09:34] {Threei}  oh, you mean JPM
[09:34] {Les} JPM needs someone who understands it
[09:34] {Les} will listen to its needs
01[09:35] {Threei}  C 1:1, too bad this one got away
[09:35] {ese} spyders tankin
01[09:35] {Threei}  yeat, Italy adds fuel to fire
[09:35] {Will49} tks Vad out JPM
[09:35] {nemo} olive oil actually
01[09:35] {Threei}  yw
[09:35] {ese} missed that .....whats happening there
01[09:36] {Threei}  still can't form a govt, and possible new election
[09:36] {nemo} musicians
[09:36] {ese} too funny
[09:36] {ese} wha da ya mean musicians?  sheesh
[09:37] {nemo} defending 155 SPY
[09:37] {dino} gs green
[09:38] {nemo} wow, yeah, they're barely down...this market not going down without them
01[09:40] {Threei} Long Setup:  BBRY  .50 break
01[09:40] {Threei}  If holds  .45
01[09:41] {Threei}  Invalidated
[09:41] {Les} can't short it either
[09:44] {ese} L mdlz .14
[09:44] {Les} GS pushing 3 min bb's looks like a squeeze
01[09:44] {Threei} Short Setup: FB  .95 break
01[09:44] {Threei}  If holds  25
[09:47] {Les} BBRY basing consolidating
[09:47] {nemo} looks like wants to test resistance
[09:47] {ese} Lsrpt .19
[09:48] {nemo} figures, musician buying drugs
[09:48] {Les} l bbry .46
[09:48] {Will49} quick this morning nemo
[09:48] {nemo} amazingly...I've been up all night
[09:48] {Will49} dad ok?
[09:49] {dino} lnn sm l .75 wide/gappy
[09:49] {Les} yeh
[09:49] {Les} how is he?
[09:49] {nemo} that's why I was up all night
[09:49] {nemo} not good..have to administer drops hourly
[09:49] {nemo} infection
[09:49] {nemo} they shot vancomycin and a cephalosporin directly into his eye yesterday
[09:50] {Will49} hope one of my kids will step up if needed
[09:50] {nemo} I keep the Sig on the desk
[09:50] {Will49} you're a Saint
[09:50] {nemo} beginning to think that's an option
[09:50] {nemo} me a Saint...oh boy, you'll make alot of my former colleagues laugh at that one
[09:51] {Will49} you're a good role player
[09:51] {nemo} that's an interesting way to put it
[09:51] {Les} half out bbry .53
[09:52] {Les} stop to .50
01[09:52] {Threei} Short Setup: WDC  37 break
[09:52] {cc_8} Among the companies with shares expected to actively trade in Wednesday’s session are Cliffs Natural Resources Inc. (CLF), Francesca’s Holdings Corp. (FRAN) and Access Midstream Partners LP (ACMP).
01[09:52] {Threei}  sorry, WFC
[09:52] {cc_8} MARKET SNAP: At 5:55 a.m. ET, S&P 500 futures down 0.2%. Treasury yields little changed. Nymex down at $95.90; gold down 0.1% at $1,596.18. In Europe, FTSE 100 down 0.1%, DAX down 0.7% and CAC 40 down 0.9%. In Asia, Nikkei 225 up 0.2% and Hang Seng up 0.7%.
01[09:52] {Threei} Short Setup: WFC  37 break
01[09:52] {Threei}  If holds  .10
[09:54] {Les} bbry stop +.01 2nd half
01[09:55] {Threei} Long Setup:  CAT  .20 break hl
01[09:56] {Threei}  fast 1:1... too fast I guess
[09:56] {thomcbell} lvs pop
01[09:56] {Threei}  if anyone got it, you know what to do
[09:58] {thomcbell} short setup splk 39.40 break if holding 39.50
[09:59] {thomcbell} half lot
01[10:00] {Threei}  *(US) FEB PENDING HOME SALES M/M: -0.4% V -0.3%E; Y/Y: 8.7% V 8.7%E
[10:02] {ese} daaaaaaa sugar ray blu......tried to get a fill on fis at 39.....went by me
[10:02] {ese} fingers not moving fast enough
[10:02] {Will49} nice French there ese
[10:02] {thomcbell} bbry getting its footing
01[10:02] {Threei}  lol
[10:02] {Les} bbry trying to squeeze here but 15 min bb's are too tight
[10:03] {ese} tks.........i know italian better............va vancula............
[10:03] {Les} even I recognise that vulgarity ese
[10:04] {Will49} translation?
[10:04] {ese} L bbby .65
[10:04] {Les} go f yerself
[10:04] {ese} F O
[10:04] {Will49} thought so
[10:05] {Will49} goes with the Italian salute
[10:06] {thomcbell} splk cancelling it - looks more like a a long
[10:06] {Will49} va vancula to WFC
[10:06] {nemo} tempurpedic up again  ;-)
01[10:06] {Threei}  lol... invalidated for now
[10:06] {ese} yup
[10:07] {thomcbell} wow vad fb was initially a long idea right?
[10:07] {thomcbell} lord god
[10:07] {backman} fb..would love to short at break of 25.60..na
01[10:08] {Threei}  every time I try to call long FB, ese swears at me in 5 languages
[10:08] {Les} another squeezer
[10:08] {Les} the games we play
[10:08] {backman} shorted AKAM at 35....
[10:09] {Les} vwap .90
[10:09] {Les} AKAM
[10:10] {nemo} rax looks good for a short
[10:10] {ese} am watching that les.....already have a position there
[10:10] {Will49} good call Bman
[10:11] {Les} still long ese?
[10:11] {ese} y
[10:11] {Les} few days ago wasn't it?
[10:11] {ese} y
[10:12] {ese} avg .74 now
[10:12] {Les} JPM revisiting lws but could be long here
[10:12] {Les} lows
01[10:12] {Threei}  (CY) Reportedly Cyprus capital controls plan will be in force for 7 days
01[10:12] {Threei}  yes, and banks were supposed to be closed for 1 day
[10:13] {Les} FIIIIIIIREEEEEE IN THE THEATRE
[10:13] {Les} EU needs to hire bankster PR people to do their job
01[10:14] {Threei}  - Controls will include restrictions on checking accounts and overseas payments. Will not allow ending time deposits.
[10:14] {ese} don't know if you can explain that vad but it is a weird psych....ummmmmmm aversion lets call it to that stock FB.........I can't help but think he's one of the stupidest ceo's out there...........like the idiot AONE guy
[10:15] {nemo} he's a billionaire...can't be THAT stupid
[10:15] {ese} that gets in the way of me buying or selling that stock
01[10:15] {Threei}  you have explained it already: "it is a weird psych"
[10:15] {ese} i guess
01[10:16] {Threei}  there is a chart, there are setups...
01[10:16] {Threei}  how many profitable plays we did on FB, both short and long
[10:16] {ese} billionaire or not.....just rubs me the wrong way
01[10:16] {Threei}  on a personal note, I can't stand him
[10:16] {Les} vad FB dt'd in your book at .60?
01[10:17] {Threei}  stupid is not the word I'd use, I'd rather say sleazy
[10:17] {Les} psychopathic
01[10:17] {Threei}  yes Les
[10:17] {Les} k missed it
01[10:17] {Threei}  clean dt, backman was right
[10:17] {dino} lulu sm l .15
06[10:18] * Les slaps backman for getting it right without Les
[10:18] {Les} being on board
01[10:18] {Threei}  but personal perception aside, just remember that time when FB had enormous lockup expiration, and everyone was screaming short it
[10:18] {ese} ya thats pretty much it vad.............the way he tried to squeeze extra billions out of that ipo....screwing the people who had back him to that point
[10:18] {Les} bbry very tight here
01[10:18] {Threei}  how could you not go long and profit from mass emotions?
[10:19] {Les} was that not the game put out by wall st?
[10:19] {ese} TPX perfect cup and handle...watched it didn't do anything though
01[10:19] {Threei}  not exactly Les
[10:20] {backman} out AKAM +.22
01[10:20] {Threei}  he theatened to withdraw sibscription from brokera houses that wouldn't go along with his plan
[10:20] {Will49} good one Bman
[10:20] {Les} gj
01[10:20] {Threei}  wtg
[10:20] {ese} hmmmm  didn't know that
[10:20] {backman} thnk u
[10:20] {ese} doof
01[10:20] {Threei}  they wanted to price it lower
01[10:21] {Threei}  he pressed for higher price and more shares
[10:21] {ese} not you B ...the FB doof
[10:21] {Les} so wall st wasn't being stupidly greedy then
[10:21] {Les} the guy knows how to play hey...
[10:21] {nemo} he got it right...allowed them all to get out up around 40
01[10:22] {Threei}  IMO, short term smart, long term stupid
01[10:22] {Threei}  want long term smart? look at Amazon
[10:22] {nemo} he got a couple of billion in cash...wh cares
[10:22] {Les} yeh it's the give me now culture
[10:22] {Les} and he got now
[10:22] {ese} out srpt .40 +.21
[10:22] {nemo} If I could get a couple of billion out on the first day, the company could die tomorrow for all I care
01[10:23] {Threei}  well, that's exactly why I can't stand him... thug in hoodie grabbing his while it's there
[10:23] {nemo} shut up Les
[10:23] {nemo} you frickin' commie
[10:23] {Les} sorry nemo
[10:23] {ese} out bbby .92 =.27
06[10:23] * Les blows nemo a huge raspberry
[10:23] {ese} +.27
[10:23] {Will49} wtg ese
[10:23] {ese} mdlz still non performing loan
[10:24] {ese} tks will
01[10:24] {Threei} Short Setup: BBY  .30 break
01[10:24] {Threei}  If holds  .40
[10:24] {Les} FB .50 short?
[10:24] {thomcbell} retarded where this thing is
[10:24] {ese} my position in mdlz is sure to bring down the world economy
[10:24] {thomcbell} not that im thinking
01[10:25] {Threei}  let's let it trade within the range for a few min Les
[10:25] {Les} k
01[10:25] {Threei}  ok... no
[10:25] {ese} damn mrkt is reneging on paying the loan........sheesh....what a place to do business
[10:25] {Les} yeh
[10:29] {Les} FB breaking bb bubbles in higher time frames. looking for another DT
01[10:30] {Threei}  BBY is valid
[10:31] {thomcbell} especially with the breaking of yest low
[10:31] {thomcbell} reminding me a bit of bbry from the other day
[10:33] {nemo} watch 51 area for HFC short
[10:35] {ese} hmmmm  textbook double bottom nsm.......too bad i missed that too
01[10:36] {Threei} Short Setup: FB  .80 break
[10:36] {dino} ebay sm l .10
01[10:36] {Threei}  If holds  .85
[10:36] {ese} am not using my mystical powers to sus these out.................lets try again .....ummmmmmmmmmmmmmmmmmmmmm......ahhhhhummmmmmmmmmmmmm
[10:37] {ese} nope not workin.........................
[10:39] {ese} ese wildly looks through the pages of vads reality trader textbook to find the answer...........ah....here it is.......sit with legs crossed behind your head............ummmmmmmmmmmmmmmmmmmmmmm.......ahhhhhhhhummmmmmmmmmmmmmmmmm
[10:39] {ese} waiting for divine intervention
01[10:39] {Threei}  and slap your knees with your ears
[10:39] {ese} lol
01[10:39] {Threei}  die BBY
01[10:39] {Threei}  you too FB
[10:40] {backman} out WFC -.10
01[10:41] {Threei}  hmm? WFC whole range is less than 10 cents, how did you manage that? :)
[10:41] {ese} although.......there is some divine intervention happening with akam
[10:42] {backman} shorted prematurely on break of 37
01[10:42] {Threei}  BBY is not a scalp if works
01[10:42] {Threei}  see how weak it is while SPY makes new highs
01[10:44] {Threei}  oh come on... 1 cent to 1:1?
01[10:44] {Threei}  finally
01[10:44] {Threei}  1:1
[10:44] {nemo} nke looks short
01[10:45] {Threei}  1:2
01[10:46] {Threei}  FB no go
01[10:47] {Threei}  out last piece BBY on a trail
[10:48] {backman} this FB runup on lower volume is highly suspect, although price doesnt lie
[10:48] {ese} nice one chief........keep up the good work eh
[10:50] {Les} short fb again last go
[10:52] {nemo} nke short here
01[10:57] {Threei} Short Setup: CAT  .40 break
[10:57] {backman} EBAY long 51.22
01[10:57] {Threei}  If holds  .50
[11:02] {Les} two way?
01[11:02] {Threei}  by oure chart configuration, yes... but something doesn't look right for long
01[11:02] {Threei}  volume
01[11:03] {Threei}  dries up on each upward move
[11:03] {Les} k
[11:03] {Les} FB stopped
[11:07] {Les} CAT still good?
01[11:08] {Threei}  yup
[11:10] {thomcbell} short setup wdc 49.74 break if holding 49.85
[11:12] {thomcbell} wdc invalid
[11:12] {nemo} still BTFD!!! market
01[11:13] {Threei}  why not
01[11:13] {Threei}  it will continue right up to the bitter end
01[11:14] {Threei}  and the final blowoff will be as usually, totally unexpected
[11:20] {dino} lnn sm l .00
01[11:21] {Threei}  .35 is CAT's last line of defense down to about .20
[11:21] {Les} vwap and pivot just below .30
01[11:22] {Threei}  1 cent to 1:1
01[11:22] {Threei}  wtd
[11:24] {thomcbell} darnit wdc
01[11:24] {Threei} Short Setup: BBRY  .40 break
[11:24] {dino} jpm sm l .75
[11:24] {thomcbell} never triggered though thankfully
[11:28] {dptl} stop .46 bbry?
01[11:29] {Threei}  or .51
01[11:29] {Threei}  both are valid, with different degree of shakeout odds
[11:29] {dptl} ok
01[11:29] {Threei}  action slowed down to about a pace of one-legged heavily sedated snail moving in molasses
[11:30] {dptl} what is your stop .51? you gonna use
[11:30] {nemo} snails don't have legs vad?
[11:31] {nemo} maybe 1 legged centipede?
01[11:31] {Threei}  .51 for now, will trail after new low
01[11:31] {Threei}  you sure about that nemo? I am not good at botany, but still...
01[11:35] {Threei}  trailing to .46 now
[11:35] {dptl} k
01[11:35] {Threei}  crap
01[11:35] {Threei}  Snails belongs to class Gastropoda of phylum Mollusca. the name means it walks with the belly or the
01[11:35] {Threei}  belly functions as legs. so they don't have legs.
01[11:36] {Threei}  how I hate it when nemo is right
[11:36] {Les} and here i thought it was just me who slid around on my gut
01[11:36] {Threei}  and my proficiency in botany hits new low
[11:37] {backman} out BBRY .20 from earlier entry
01[11:37] {Threei}  wtg
[11:37] {backman} ty
[11:38] {dino} gj
01[11:38] {Threei}  half out BBRY
01[11:41] {Threei}  bman, I must say... the progress over the course of measly two weeks is quite amazing
[11:41] {dino} indeed
[11:42] {backman} you've coached me well, enlightened one...++ i lost so much $$$ trading wo stops years ago....this is so much easier....and Profitable...expect to go live next week
[11:42] {dino} great job bman, gl
[11:43] {Will49} we expect great things from you Bman
01[11:43] {Threei}  as we go through mentoring process, I have inside look, easier to gauge the progress... questions asked two weeks ago and trades made now look like two different men
01[11:44] {Threei}  and... enlightened one?? lol
01[11:44] {Threei}  I can see nemo fainting
[11:44] {backman} ty all....feeling aggressive on EBAY...will trail to BE
01[11:44] {Threei}  hitting the floor
01[11:44] {Threei}  splitting his upper lip of the edge of the desk
01[11:45] {Threei}  weakly reaching the bottle by lucky coincidence laying right where he fell
01[11:45] {Threei}  inhaling half of the content
[11:45] {dino} coincidence?
01[11:45] {Threei}  air quotes :)
[11:46] {dino} ahh
[11:46] {backman} BBRY cover was right off 2:1 return model....will be nice to turn this $$ some day soon
01[11:47] {Threei}  by the way, about trading without stops... I know I linked it about 200 times but it never gets old
01[11:47] {Threei}  http://blog.realitytrader.com/2007/05/stops-why-dont-we-keep-them.html
01[11:47] {Threei}  if it was more than 2 months since you read it, read it again
01[11:47] {Threei}  CAT 1:1
01[11:48] {Threei}  this time I was smarter and took .31
[11:49] {dino} out lnn .71, +1.71
01[11:49] {Threei}  wow
01[11:49] {Threei}  wtg
[11:49] {Will49} wowser
[11:50] {backman} my hero :=)
[11:50] {dino} lucky
[11:52] {backman} EBAY setting up volatility window
[11:52] {dino} where you in at?
[11:52] {dino} i'm at .15 from hour ago
[11:52] {dino} opps .10
01[11:52] {Threei}  (ES) Eurostat: spain 2012 budget accounting methods were flawed, did not change budget accounting rules- Other countries budget accounts are probably not affected
01[11:53] {Threei}  heh
[11:53] {dino} roflol, like you didn't see fake budgets coming
[11:53] {Les} never a dull moment in EUland
01[11:53] {Threei}  now, what does this remind you:
01[11:53] {Threei}  (US) Fed's Rosengren (moderate, voter): Asset purchases have boosted US labor markets, there is little evidence that Fed policies are causing financial stability problems
[11:54] {thomcbell} i read it again Vad - good stuff
01[11:54] {Threei}  to mwe, it's that guy who jumped from 100th floor
[11:54] {thomcbell} aapl day low
01[11:54] {Threei}  passing 50th, says "so far so good"
[11:55] {ese} lol
01[11:55] {Threei}  the rest of his speech is not much better
[11:55] {backman} out ebay -.04
01[11:55] {Threei}  - US housing prices remain well below their peak - DUH!
[11:55] {ese} out mdlz .24 +.10
[11:56] {ese} had enough of that one
01[11:56] {Threei}  home price/rent index is at 1993 levels presently. - PRESENTLY?
[11:56] {Les} hmmm forgotten my grammar rules here
01[11:56] {Threei}  - S&P500 is higher, but so are corporate earnings. Stock price gains appear in line with fundamentals. - you gotta be f*&^g kidding me?
01[11:57] {Threei}  next one can cause apoplexy:
01[11:57] {Threei}  - Bond yields are quite low, but they have declined in line with other market rates.
01[11:57] {Threei}  eeeck
01[11:57] {Threei}  - Low inflation gives the Fed the flexibility it needs to encourage faster growth and rapid declien in unemployment.
01[11:58] {Threei}  you folks claim low inflation for 5 years now
01[11:58] {Threei}  where is rapid decline in unemployment?
01[11:58] {Threei}  - Benefits of Fed asset purchases still outweigh costs.
01[11:58] {Threei}  again, passing 50th floor...
01[11:59] {Threei}  - Fed can vary monthly asset purchases by changing monthly amounts bought, should continue buys through 2013
01[12:00] {Threei}  OK, so come end of 2013 and you stop buying... market drops like a stone,... what's next?
01[12:01] {Threei}  this thing is so rudderless...
01[12:04] {Threei}  - Cyprus is preparing capital controls to buttress the reopening of banks tomorrow, while in Italy the Beppe Grillo's Five Star movement is doing its best to torpedo the formation of a government in Rome.
01[12:04] {Threei}  that thing is too, lol
[12:05] {ese} I love the italians.............just do it...........
01[12:05] {Threei}  - In Italy, the Five Star movement promised to vote against any Bersani government in a confidence vote, and even ruled out the possibility of the party's MPs walking out on a confidence vote to allow the formation of a government. There has been another round of Italy sovereign downgrade rumors
01[12:06] {Threei}  Note that in a sign of trouble, the bid-to-cover in the Italian five-year bond auction this morning was the lowest in over a decade. The euro is tanking, with EUR/USD at fresh four-month lows around 1.2770, well below the 200-day moving average.
[12:11] {Les} vad any sort of identifiable shorting pattern on RIG at the top or here?
01[12:11] {Threei} Short Setup: LVS  .95 break
01[12:11] {Threei}  If holds  56
01[12:12] {Threei}  .80 break was more or less decent setup Les
[12:12] {Les} missed
01[12:23] {Threei}  meh
[12:29] {dino} lnn sm l .36
[12:30] {Les} oh RIG reversal, finally caught something
[12:30] {Les} pulling teeth
[12:42] {Les} sm. jpm long .62
[12:44] {dino} out ebay .40, +.30
01[12:44] {Threei}  frikin LVS
[12:49] {Les} FB did the same to me. .10 stop too large
[12:49] {jdetente} I was just reading your blog on stops Vad...so I'm having a zen moment looking at that rinse
[12:50] {jdetente} :)
01[12:50] {Threei}  :)
01[12:52] {Threei}  random reinforcement
[12:54] {jdetente} yes!
[12:55] {thomcbell} some days there is just not much juice
[13:00] {thomcbell} kors looks like something long here
[13:01] {Les} JPM covered flat. pushing for what isn't there
[13:03] {Les} LVS back to .99
01[13:07] {Threei}  hmmm... WFC
01[13:07] {Threei}  tempting short
01[13:07] {Threei}  daily is so shot down
01[13:07] {Threei}  well, with .96 stop
01[13:08] {Threei} Short Setup: WFC  .90 break
[13:12] {backman} f'en ebay
[13:12] {Les} we have a wiunner
[13:12] {Les} nice call
01[13:12] {Threei}  half out WFC
01[13:12] {Threei}  .81
01[13:12] {Threei}  {--- learned my lesson from two stocks that bounced from 1 cent off 1:1
[13:16] {dino} markets have stopped moving
[13:16] {Les} FB creating some volatility again
01[13:16] {Threei}  I had a girlfriend like that once dino
[13:16] {Will49} hey! that's my line:)
01[13:17] {Threei}  was, before I stole it :)
[13:17] {Les} FB .90 if holding .95?
[13:17] {Will49} hahaha
[13:17] {Will49} long as you don't steal my girlfriend
01[13:17] {Threei}  I doubt it les... feels against the grain
[13:17] {Les} k
[13:18] {jdetente} prudent cover on WFC
[13:18] {dino} lol
01[13:18] {Threei}  I am a quick study, jd :)
[13:18] {jdetente} glad I followed :)
01[13:19] {Threei}  I mean, after you step on the rake twice and its handle hits you on the forehead...
[13:19] {Les} you lose brain function
[13:19] {jdetente} http://www.dudemeetsdad.com/wp-content/uploads/2011/07/Bob_rake.jpg
[13:19] {Will49} that' not where it usually hits me
01[13:19] {Threei}  lol
[13:20] {Les} hehe
[13:20] {backman} apol
01[13:21] {Threei}  one has to wonder why ese disconnected upon reading this rake exchange
[13:21] {Will49} if he's late for school, he'll get raked over the coals
01[13:22] {Threei}  my assumption would be, he has very vivid imagination, and Will's line sent him twisting in pain
[13:22] {Will49} :)
01[13:23] {Threei}  musicians are like that...
01[13:26] {Threei}  see FB?
[13:26] {thomcbell} still somewhat interested in a bbry long at some point
[13:27] {thomcbell} for the reasons Vad stated this am
01[13:27] {Threei}  I think c,loser to and after the earnings announcement
01[13:27] {Threei}  for now luring in the overconfident shorts continues
01[13:27] {Threei}  when all the suckers are suckered in, trap closes
[13:32] {Les} yeh saw FB
[13:34] {Les} lol 1:1 jpm without me
[13:35] {Les} sm short FB .98
[13:35] {dino} lulu to .45
01[13:36] {Threei}  look dcc les
[13:40] {dino} stop lulu .45, +.30
[13:46] {thomcbell} that looked pretty good the 14.51 break long on bbry Vad - i didnt publish but i did take the entry
[13:47] {thomcbell} publish is kind of funny
01[13:47] {Threei}  good setup, yes
01[13:47] {Threei}  but I am not really worried about missing little longs on it right now, it's still a guessing game
01[13:48] {Threei}  if and when that big trap works, we will have a lot of time and entry opportunities
01[13:48] {Threei}  such squeexe will go much longer than squeezed can imagine
01[13:49] {Threei}  just as it happened on that smackdown a few days ago, where we couldn't get setup near the top,
01[13:49] {Threei}  yet caught very nice short later on
[13:49] {dptl} acmp 40 short?
01[13:50] {Threei}  and just as with FB lockup, when poor shorts squirmed for weeks, not understanding what hit them
01[13:50] {Threei}  can't tell, ACMP
[13:56] {Les} FB stopped me getting squeezed
01[13:57] {Threei}  you are asking for it
01[13:57] {Threei}  [13:17] {Threei} I doubt it les... feels against the grain
[13:57] {dino} kyth? thin
[13:58] {backman} APOL 1:1...
01[13:58] {Threei}  (CY) Cyprus Foreign Minister: Government seriously considered exiting the eurozone during bailout negotiations- Feels the EU failed to show solidarity during the negotiations on the bailout.
01[13:58] {Threei}  you think?
[13:59] {dino} eu crushed them on greek debt and crushes them again. why they stay is beyond me
01[14:00] {Threei}  at some point meaningless of this will finally dawn on one of them
01[14:00] {Threei}  it's hard to be first to leave
01[14:00] {Threei}  but someone will
01[14:01] {Threei}  and whole house of cards will fall apart
01[14:01] {Threei}  and then it will be "last to leave, don't forget to turn the lights off"
[14:01] {thomcbell} another bad french employment number today
[14:02] {thomcbell} when that one starts to unravel things will get pretty atrocious
01[14:02] {Threei}  who would have thought electing socialists could hurt economy
01[14:02] {Threei}  and amazingly quickly, tbell
01[14:03] {Threei}  who remembers the mind-boggling speed with which USSR fell apart, knows just how quickly these things can go frpom zero to 100 mph
[14:06] {nemo} I do, started with the fall of the Berlin Wall
01[14:07] {Threei}  Egyptians Are Angered by Ongoing US Support of "Illegitimate Muslim Brotherhood Govt"
01[14:07] {Threei}  good move Obama
01[14:08] {Threei}  way to turn allies into enemies
[14:08] {nemo} alright cya tomorrow P&Q
01[14:09] {Threei}  gl nemo
[14:10] {thomcbell} bbry another entry 14.62 break
[14:19] {dino} out lnn .18, +.82
[14:19] {dptl} inn?
[14:19] {dino} L
[14:19] {thomcbell} bbry got 1:1 on 14.62 entry
[14:20] {dino} LNN dp
[14:20] {dptl} oh ok...nice
[14:21] {dino} thx buddy
[14:22] {dino} got out too soon (again)
[14:25] {thomcbell} bbry 1:2 briefly
[14:25] {backman} gotsa go....be back tomorrow...same bat channel
[14:26] {Les} ciao
[14:26] {dino} cya
01[14:26] {Threei}  take care bman
[14:33] {thomcbell} last quarter stop to 14.67 bbry
[14:39] {Will49} see this? Massive cyberattack threatens internet speed
[14:39] {Will49} http://www.cbc.ca/news/world/story/2013/03/27/spamhaus-attack.html
01[14:41] {Threei}  sigh
[14:45] {jdetente} is that Ravi making a comeback?
[14:46] {dino} lol
[14:47] {dino} sm l lnn .73
01[14:47] {Threei}  hmmm... not since he tried to blackmail me in "then I go someplace else" style :)
[14:48] {jdetente} ah I thought that may have been another username he's trying out
[14:48] {dino} out lnn .24, +51
[14:48] {dino} .51
[14:48] {thomcbell} bbry stop to 14.77
[14:50] {thomcbell} bbry 1:3
[14:50] {thomcbell} 1:4 if you did first setup
[14:51] {Will49} nice trade Tbell
[14:51] {thomcbell} im out now
[14:52] {thomcbell} took it off 14.90
[14:52] {thomcbell} tu
[14:52] {Will49} wish I could take your trades but my contract w/Vad doesn't permit it
[14:52] {Will49} jk
01[15:00] {Threei}  (IT) Italy's Bersani is said to have closed the door on a deal for forming a new government coalition - financial press
[15:01] {Les} RIG lower high
[15:02] {Les} FB lower high
01[15:03] {Threei}  probably time to try
01[15:03] {Threei} Short Setup: FB  .10 break
01[15:03] {Threei}  If holds  .20
[15:04] {thomcbell} kors will be on long watch tomorrow
[15:05] {dino} in the spirit of vads' opening account stop teahings, my stop on jpm is .69. had a very good day and now being stingy.
[15:05] {dino} ty lnn, multi-hits
01[15:06] {Threei}  stinginess helps profit preservation
[15:06] {dino} after yers of fighting that i totally agree
[15:06] {dino} years
[15:10] {dino} should be interesting tomorrow w/cyprus banks supposedly opening
01[15:11] {Threei}  and BBRY should be active player
[15:11] {dino} oh yeah, forgot, earnings
01[15:11] {Threei}  and 30% of float shorted
[15:11] {dino} lnn looks like it wants vwap below
[15:12] {dino} on my screen
01[15:26] {Threei}  come dow FB
01[15:26] {Threei}  down too
01[15:26] {Threei}  hmmm... can you tell between up and down?
[15:29] {dino} out jpm .79, +.04. back in 15 or so
[15:31] {Les} stop -.02 FB had a .01 off that wasn't swept up
01[15:31] {Threei}  second half FB is stopped on a trail
[15:31] {Les} offer
01[15:31] {Threei}  I hope you mean bid, lol
[15:31] {Les} yeh that too :)
[15:32] {Les} the meds are wearing off...
[15:34] {Les} http://www.youtube.com/watch?v=ToQ0n3itoII
[15:37] {Les} RIG being a little more cooperative in shorting
[15:42] {jdetente} ah The Verve...good band
[15:51] {Les} outta here thanks for all the fish
01[15:51] {Threei}  ok guys, thank you all
01[15:51] {Threei}  much better day
[15:52] {Will49} take care
01[15:52] {Threei}  even though volume still sucks
[15:52] {jdetente} thanks Vad. Good day all
01[15:52] {Threei}  have a good evening, see you tomorrow
[15:54] {thomcbell} kors closing well
[15:55] {dino} wow that lnn came back strong
[16:01] {dino} gn all, thx for ideas

March 26 2013

Very low volume and lack of volatility, not our day at all. Kept activity to minimum, ended in red anyway. Oh well.

Our free Sunday Links weekly e-mail is available for everyone now: http://www.realitytrader.com/sundaylinks.html


Session Time: Tue Mar 26 00:00:00 2013
[08:53] {dino} gm
01[08:54] {Threei}  morning dino
[08:54] {dino} gm 3i
[08:56] {dino} markets closed friday i see
01[08:56] {Threei}  yes, good friday
[09:04] {dptl} gm
01[09:04] {Threei}  dp :)
[09:12] {thomcbell} bbry vad - do you see a positive not by Bernstein?
[09:12] {thomcbell} i only see it on  yahoo finance -
01[09:13] {Threei}  not in the news flow
01[09:14] {Threei}  do you have a link?
01[09:14] {Threei}  last I see on Bernstein and BBRY is Feb 4
[09:15] {thomcbell} http://finance.yahoo.com/news/blackberry-gross-margins-guidance-likely-120727282.html
01[09:16] {Threei}  ty
[09:22] {backman} gm
01[09:22] {Threei}  backman :)
01[09:22] {Threei}  - North Korea military units said to have entered 'combat readiness' with missiles that could hit US and South Korean targets, such as US bases in Hawaii and Guam.
01[09:23] {Threei}  sigh
[09:23] {Will49} gm
01[09:23] {Threei}  will :)
[09:24] {Les} guten abend
01[09:25] {Threei}  les :)
[09:25] {jdetente} good morning
01[09:25] {Threei}  jd :)
01[09:25] {Threei}  -(US) Fed Chairman Bernanke: Easy monetary policy is bolstering the US economy and helping other nations as well
01[09:25] {Threei}  oh good
[09:25] {Les} lol
[09:26] {Les} guess that's reason to pour fuel on the flames
[09:26] {ese} gm
01[09:26] {Threei}  everywhere you look, other nations are cheering and thanking US... right?
01[09:26] {Threei}  ese :)
01[09:26] {Threei}  there must be plethora of jokes in this: http://goo.gl/jaAPB
[09:27] {Les} wouldn't it be easier to just walk a little closer to his holiness?
[09:29] {Les} holy crap look at the zoom on it
[09:29] {Les} http://www.nikon.com/about/feelnikon/recollections/r16_e/index.htm
[09:31] {cipher} SPLK L .20
[09:31] {thomcbell} nice cipher
01[09:31] {Threei} Long Setup:  GDX  .60 break
[09:31] {cipher} out.50 +.30
01[09:31] {Threei}  If holds  .50
[09:33] {cipher} FSLR L .35
01[09:33] {Threei}  stop to .54
[09:34] {cipher} out FSR .53 +.18
01[09:35] {Threei}  oh well
[09:37] {Les} outside 3 min bb's so a good flush could bring a nice bounce in GDX s1 support .34
01[09:38] {Threei} Long Setup:  CAT  .15 break hl
01[09:38] {Threei}  If holds  .05
[09:38] {cipher} ENDP L .14
01[09:39] {Threei}  Invalidated
[09:40] {cipher} out .25 +.11
[09:40] {Les} light vol. CAT on FSC BATS ain't moving
[09:42] {cipher} SFLY L .05
01[09:42] {Threei} Long Setup:  FCX  .70 break
01[09:42] {Threei}  If holds  .60
[09:43] {cipher} out SFLY .30 +.25
[09:44] {Les} the CAT ran
01[09:45] {Threei}  yeah
[09:45] {Les} fcx short?
[09:45] {Les} .60?
01[09:47] {Threei}  if can't go over .65
[09:48] {Les} GS VWAP rejection again this morn
01[09:49] {Threei} Short Setup: LVS  .38 break
01[09:50] {Threei}  If holds  .48
01[09:50] {Threei}  weird numbers but so is this opening
01[09:51] {Threei}  Invalidated
[09:51] {Les} IWM losing VWAP
[09:55] {cipher} ZUMZ L.26
[09:55] {Les} short lvs short fcx
[09:57] {cipher} FIVE L .80
[09:59] {dino} 07 fast red
01[10:00] {Threei} Short Setup: BBRY  .35 break
01[10:00] {Threei}  If holds  .45
[10:00] {Les} cover half fcx
[10:01] {Les} can't borrow
[10:02] {jdetente} neither can I
[10:02] {cipher} out FIVE .88 +.08
[10:02] {jdetente} oh wait broker just found some cool
[10:02] {Les} cover q lvs .21
[10:02] {Les} stop .30
[10:05] {Les} FCX vwap resistance holds
[10:05] {cipher} APEI L .63
01[10:07] {Threei}  don't scalp BBRY, IMO
[10:08] {Les} can someone lend me some of their stock?
[10:08] {cipher} out ZUMZ .44 +.18
[10:10] {cipher} URBN L .00
[10:11] {Les} spy wants that high
[10:11] {cipher} PAMT L .24
[10:13] {cipher} out URBN .04 +.04
01[10:14] {Threei}  grrr
[10:15] {cipher} out APEI .70 +.07
01[10:17] {Threei}  either because of short week, or Cyprus uncertainty, or all of that, but there is no patterns at all, just floating listlessly
[10:17] {dino} no setups for me yet, odd
[10:17] {Les} short week?
[10:17] {Les} when r we closed?
01[10:18] {Threei}  Friday is off
[10:18] {Les} k
01[10:19] {Threei} Short Setup: FB  .35 break
[10:19] {nemo} Yeah, Vad's closing the room and taking the month off in April, Les
01[10:19] {Threei}  If holds  .40
[10:20] {nemo} wow, iwm and spy barely moving
[10:23] {Les} damn lvs bounced straight off of vwap
[10:23] {nemo} funny how that works
[10:23] {cipher} out PAMT .59 +.35
[10:24] {nemo} nke below 59
[10:24] {nemo} appointment trading today
01[10:24] {Threei} Short Setup: CAT  87 break hl
01[10:24] {Threei}  If holds  .10
01[10:25] {Threei}  yeah, it's as if market said "I am so tired of endless worries, let me just do nothing for a day or two"
[10:26] {nemo} cypress isn't re-opening banks until Thursday now
01[10:26] {Threei}  yeah
01[10:27] {Threei}  (PT) Portugal Fin Min Gaspar: Main challenge is to handle financial market fragmentation
01[10:27] {Threei}  good luck with that gaspar
01[10:27] {Threei}  everyone is so trustful of each other now, right?
01[10:27] {Threei}  CAT is valid
[10:27] {nemo} of course Komrade, for the Rodina
01[10:30] {Threei}  sigh
[10:30] {nemo} what?
[10:30] {Les} FCX stopped
01[10:30] {Threei}  one of those days when it was not worth waking up or what
[10:30] {ese} L akam .72
[10:31] {jdetente} is frustrated an emotion? lol
[10:31] {ese} no
[10:32] {Les} I'd be bloody frustrated being woken 5 am for nothing
[10:32] {Will49} these days come with the territory, no?
[10:32] {dino} yes
[10:32] {jdetente} of course they do
[10:32] {dino} some of the hardest trades are not making them
[10:33] {jdetente} I guess I will echo our leader about this morning...sigh
[10:33] {nemo} brownnoser
[10:33] {Les} :)
[10:33] {dino} same here jd, no trades for me yet
[10:33] {jdetente} ha
[10:33] {Will49} sigh is a symptom of emotion
[10:33] {jdetente} uh oh this is going to get deep
[10:34] {jdetente} :)
[10:34] {nemo} yeah, knee deep
[10:34] {backman} thats what she said
[10:34] {jdetente} hey-o
[10:34] {dino} lol
[10:34] {Les} LVS back to vwap again. maybe not 3rd time luck
[10:34] {Les} lucky
[10:34] {Will49} where is the Toaist Trader this morning?
[10:34] {nemo} puerile juveniles
[10:35] {jdetente} go back to your bunny
[10:36] {ese} enough of the touchy feely stuff.............just flippin make money
[10:36] {nemo} hey, shove a paiste where the sun don't shine
[10:36] {ese} lol
[10:36] {Les} cover FB flat potty break
[10:37] {Will49} there's more emotion:)
[10:37] {Will49} nemo
[10:37] {backman} APOL?
[10:37] {ese} oh ya! oh ya!.........well I represent that remark
[10:38] {Will49} if we can't make money...might as well have fun eh?
[10:38] {nemo} go change your depends Will
[10:38] {ese} can't disagree with that
[10:38] {Will49} on my third pair already
[10:38] {backman} as in, u can depend on me?
[10:38] {Will49} at $3 a pop
[10:39] {Will49} so not only am i down in the market, my depends inventory is getting low
[10:40] {jdetente} better buy some more at lunch if you can make it
[10:41] {nemo} oh jeez...have to drive into Boston today...that SUCKS!!!
[10:41] {Will49} the delivery truck arrives in an hour
[10:41] {Les} motorcycles inherently dangerous means of transport in US?
01[10:42] {Threei}  frikin BBRY rinsed
[10:44] {ese} grrrrrrrrr.......the fish that got away........vmed....damn  watched it for about 40min then gave up on it.............
01[10:44] {Threei}  ok FB
01[10:44] {Threei}  lose .30 and become a winner finally
[10:44] {Les} FCX dog. rinsed and went straight back to trigger
[10:47] {ese} spyders did this number yesterday.........then proceeded to fall for the rest of the day
01[10:49] {Threei}  wow... did we get 1:1 finally?
[10:49] {Les} woohoo
[10:49] {Will49} yippeeeeee
[10:50] {ese} lol
01[10:50] {Threei}  I am falling in love with FB
[10:50] {ese} ya sure...ya sure....go ahead and brag
01[10:50] {Threei}  be still my heart
[10:50] {Les} well don't
[10:51] {ese} what are you driving to Boston for nemo?
[10:52] {nemo} father's doctor appointment
[10:52] {nemo} I hate driving in there
[10:52] {ese} ahhhh...good luck with that
[10:52] {Les} yer old man living in Boston or with you?
[10:52] {nemo} with me
[10:53] {Les} how go the eyes?
[10:53] {nemo} that's the reason
[10:53] {Les} no go?
[10:53] {Les} so fare
[10:53] {Les} far
[10:53] {nemo} oxy looks short
[10:53] {nemo} one of the surgeries went bad
[10:53] {ese} huh.......really
[10:53] {Les} bitchen
[10:53] {ese} how so
[10:53] {nemo} suddenly couldn't see
[10:54] {Les} short fcx .59 stop above .66
[10:54] {ese} holy S
[10:54] {ese} lcan that be repaired
[10:54] {ese} can
[10:54] {nemo} that's why the appointment
[10:55] {Les} not doctor malpractice I hope
[10:55] {nemo} not thinking about that yet
[10:56] {Les} cool
[10:57] {dino} hope it works out for him nemo
[10:57] {nemo} ty
[10:57] {nemo} between him, bunny's digestive problems, and my nephew's standard condition, life is challenging  ;-)
[10:58] {Les} :)
[10:58] {nemo} watch NKE here
[11:00] {nemo} So...had Captain Morgan's special reserve rum last night...very good
[11:00] {Will49} sounds like you're a giver nemo
[11:00] {nemo} huh?
[11:00] {Will49} a giver in a sea of takers
[11:00] {Les} gives it to others yeh
[11:01] {cipher} SGEN L .85
[11:01] {nemo} eh...I don't know....bunny is cool, my nephew is cool, father is old...is what it is
[11:01] {Will49} good attitude
06[11:01] * Les slaps Will with a big neon "slap me" sign
[11:02] {nemo} Read this:  http://bclund.com/
[11:04] {Les} lol
[11:04] {nemo} I like stuff like that when I'm having a "poor nemo" day
[11:05] {cipher} out SGEN flat
[11:06] {ese} that shouldn't happen to children
[11:06] {Will49} neat blog nemo
[11:07] {nemo} right sentiment, wrong expectation
[11:07] {nemo} yeah, he writes well
[11:07] {ese} yup
[11:07] {nemo} Nature is unkind, it treats the myriad creation like straw dogs
[11:07] {Will49} I have a cemetary at end of my street and walk thru it regularly
[11:07] {Will49} always makes me feel better
[11:08] {Les} yeh I realise who I am thanks to my kids
[11:08] {Les} took me 10 years
[11:08] {nemo} dead is good, half dead-no good
[11:08] {Les} changes my world and perceptions
[11:08] {Les} fcx finally
[11:08] {Will49} egggsacxtlty
[11:08] {nemo} anf here short possibly
[11:08] {Will49} evry day above ground is a good ady
[11:08] {Will49} day
[11:09] {Les} cover half here
[11:09] {Will49} just looked at my p&L...think i;ll take a walk in the cemetary :)
[11:09] {Les} lol
01[11:10] {Threei}  (EU) EU parliament member calls on Parliament to include a bail in for depositors in excess of �100K as part of the new banking resolution law - press**Reminder: Earlier the EU Commission reiterated that Cyprus is a unique case; bail-ins of large depositors are not being excluded in talks about the EU bank resolution system. - Yesterday markets reacted sharply to a purported comment from Eurogroup chief Dijsselbloem that the bank restructuring program in Cyprus could be used as a "template" for the rest of the EMU. Dijsselbloem later denied that he used the word "template" and that Cyprus is a unique circumstance.
[11:10] {nemo} jeez...no movement
01[11:10] {Threei}  wait will
01[11:10] {Threei}  FB is coming to 1:2
[11:10] {Will49} :)
[11:10] {Les} and IWM looks like ready for next step down if 94 holds
[11:11] {dino} ddd sm l .46
[11:12] {nemo} IWM is negotiating an upward and downward channel right along the Weekly Pivot...wow
[11:13] {nemo} spy has held the upper channel line as support right along the Monthly R2
[11:13] {nemo} Finnies dropped back into it's channel,
[11:14] {nemo} I'm stepping away...this is antsy
01[11:15] {Threei}  1:2
01[11:15] {Threei}  wow
[11:16] {Will49} makes my day....not
[11:16] {jdetente} step by step
01[11:17] {Threei}  will... what does the dude do?
[11:17] {Les} go bowling?
01[11:18] {Threei}  the dude abides
[11:18] {Les} sometimes he abides
[11:18] {Les} :)
[11:18] {Will49} i'm the great abider
[11:19] {Will49} old blues song
[11:19] {jdetente} http://images4.alphacoders.com/151/15184.jpg
[11:19] {Will49} oh no that's pretender
[11:19] {Will49} mo-town eh ese?
[11:20] {dino} trex sm l .12
01[11:24] {Threei} Short Setup: RIG  .75 break
01[11:24] {Threei}  If holds  .80
[11:24] {Les} GS close to yesterdays lows make or break time
01[11:25] {Threei}  Invalidated
01[11:25] {Threei}  (CY) Cyprus Central Bank's Demetriades: Bank of Cyprus will be operating like a normal bank
01[11:26] {Threei}  what's a normal bank?
[11:27] {Les} bank owned and enslaved to German banking system without Russian depositors
[11:30] {Les} German fear of tax havens says Speigel. They really think they can draw money into EU by shutting down peripheral financial havens.
[11:30] {Les} along with tax on trading
[11:30] {Les} EU really going for broke
[11:31] {Les} what next, electronic money?
[11:31] {Les} paperless money system?
[11:32] {Les} LVS trying to break yesterdays high
[11:32] {nemo} wow, look how shallow the book on IWM
[11:32] {nemo} something has to be wrong with my LII
[11:32] {nemo} yep
01[11:33] {Threei} Short Setup: JPM  .40 break
01[11:33] {Threei}  If holds  .50
[11:36] {dino} ddd tp flat
[11:36] {dino} to
[11:39] {Les} was gonna ask long JPM but FAS just made it to VWAP resistance. watching it here
[11:39] {dino} out ddd +.03
01[11:39] {Threei}  no, don';t like it long
[11:40] {Les} right
[11:40] {nemo} mos
[11:41] {Les} broken that downtrend line of resistance
[11:41] {backman} short clmt .39
[11:45] {Les} nature in my garden. A vole hunting grubs 2 metres from me
[11:45] {Les} red breasted robin staking out his territory next to my pond
[11:45] {Les} sorry a shrew not a vole
[11:46] {Les} such fast metabolism that he must eat constantly. always on the run
[11:53] {jdetente} my internet died...any trades on the table currently(presently)?
[11:53] {Les} yeh
[11:53] {Les} DEAD
01[11:53] {Threei}  no, one got invalidated
[11:53] {jdetente} ok thanks
01[11:56] {Threei} Long Setup:  JPM  .55 break
01[11:56] {Threei}  If holds  .50
01[12:02] {Threei}  here is why today is such a struggle:
01[12:02] {Threei}  NYSE volume 205M shares, about 22% below its three-month average; - NASDAQ volume 615M shares, about 19% below its three-month average
[12:03] {dino} wow, and it will get lower going into friday i think
[12:04] {nemo} all the Jews doing Passover this week
[12:04] {nemo} that reminds me Charleton Heston and Yul Brynner on tap
[12:06] {dptl} clf short?
01[12:09] {Threei}  not sure
[12:09] {dptl} stopped
[12:10] {ese} stop to break even AKAM .73
01[12:11] {Threei}  this kind of breaks rarely works in low volume, dp
[12:14] {nemo} iwm spy setups say lower, but you've got spy oscillating around the Monthly R2 since the open, and IWM around the Weekly Pivot since 10:30
[12:17] {Les} http://www.telegraph.co.uk/finance/financialcrisis/9952979/Cyprus-bail-out-savers-will-be-raided-to-save-euro-in-future-crises-says-eurozone-chief.html
01[12:18] {Threei}  ese, you here?
[12:18] {Les} starting to sound like ECB being strangled in German election year
01[12:18] {Threei}  remember you were musing about "them" being not that stupid, etc? read this and weep:
01[12:18] {Threei}  (CY) Cyprus Central Bank's Demetriades Confirms Bank of Cyprus uninsured deposit losses will reach 40%
[12:19] {ese} yes .....just on the phone a ton
01[12:19] {Threei}  40% confiscation...
01[12:19] {Threei}  from simple accounts... not something invested in risky products
[12:19] {Les} move money where? US equities?
01[12:19] {Threei}  checking, saving
[12:19] {Les} where's that money gonna run?
01[12:20] {Threei}  I don't know
01[12:20] {Threei}  it doesn't look like there is any safe place left
[12:20] {ese} well i don't have my money there.......it's not a big deal to me......play what you see
01[12:20] {Threei}  what can someone do if he simply wants his money safe?
[12:20] {Les} nothing. I guess that's the idea
01[12:20] {Threei}  not invested, not growing, not under any risk
[12:20] {jdetente} coffee can
[12:20] {Les} flushing out money and taking it
[12:20] {Les} inflation
01[12:20] {Threei}  just laying there until he needs it
[12:20] {Les} taxation
[12:21] {Les} capital controls
[12:21] {dino} well, the $100k and down were safe, so spread it out i guess
[12:21] {Les} a generational wealth transfer
01[12:21] {Threei}  even if you have just 1 mil, you need 10 different places
01[12:21] {Threei}  not that easy
[12:21] {dino} sure, or a big brokerage account
01[12:21] {Threei}  what to say about someone with a bit more?
[12:22] {dino} brokers are not govt insured
[12:22] {dino} private insurance. most $10 million or above per account
01[12:23] {Threei}  {ese} well i don't have my money there.......it's not a big deal to me... {--- I am not implying it is for you. It was your argument that they were not that stupid to do anything like this
01[12:23] {Threei}  and now EU says this is a template for the whole union
01[12:24] {Threei}  so Europe just at a flick of a switch became a no go zone for the wealth
[12:24] {dino} vad, with respect. it is how usa banking works. fdic up to 100k/account. remember the s&l crisis...
01[12:24] {Threei}  sure
[12:24] {dptl} short expd .58
01[12:24] {Threei}  that was my point... no safe place anymore in the world
[12:24] {Les} reckon money velocity gonna slow in Europe as capital flees
01[12:25] {Threei}  but here is what really bugs me:
[12:25] {dino} again, don't use the banks for over 100k. use brokers
[12:25] {Les} what stops them being seized as well to pay the bills?
[12:25] {Les} keep the lights on
01[12:25] {Threei}  there is simply no place to keep your money away from risk
01[12:25] {Threei}  how is broker any safer?
01[12:25] {Threei}  they go bankrupt
[12:26] {Les} credit freeze up
[12:26] {dptl} i am safe lol
[12:26] {Les} capital controls
[12:26] {backman} out CLMT..scratcj
[12:26] {dino} sure, but due your dd on them.
01[12:26] {Threei}  eh
[12:27] {dino} really, this should have happened from the beginning of euro crisis. up to 100k insured, after that good luck
01[12:27] {Threei}  who would have thought 3 huge houses with 100+ history could go belly ip within one year?
[12:27] {dino} why are taxpayers paying.
01[12:27] {Threei}  they shouldn't
[12:27] {dino} but on past bailouts in euro they are
01[12:28] {Threei}  in US as well
[12:28] {dino} let the strong survive, capitalism
01[12:28] {Threei}  so, here is business idea
[12:28] {dino} by saving all, it weakens all
01[12:28] {Threei}  bank that does nothing with your money
01[12:28] {Threei}  deposit your money for it to be safe, that's all
01[12:29] {Threei}  and pay a fee for that safety.
01[12:29] {Threei}  No investment, no risk, no fractional reserver
01[12:29] {Threei}  -r
01[12:29] {Threei}  no interest
01[12:29] {Threei}  You want interest, invest
[12:29] {Will49} or a buried coffee can in backyard
01[12:29] {Threei}  You want your money to be safe, bring it here
01[12:30] {Threei}  electronic analog of coffee can :)
[12:30] {dino} where are you different than what i am saying? you want interest you take on risk.
01[12:30] {Threei}  I am not, what I am saying:
01[12:30] {Threei}  there is NO such option
01[12:30] {Threei}  no one takes your money with guarantee of safety
[12:31] {dino} sure there is, you just need to find it. you really think businesses won't hold your money for a fee?
01[12:31] {Threei}  if you don't want interest and risk, where do you go?
[12:31] {Les} One Swiss bank already charging for deposits here. I expect market to test SNB threshold sooner or later, forcing negative interests rates on deposits here
01[12:31] {Threei}  is that swiss bank operating on fractional reserve system?
01[12:32] {Threei}  it's not a safe place, period
[12:32] {Les} eh oui
01[12:32] {Threei}  stop for a second and think:
[12:32] {Les} sssshhhh don't tell em that
01[12:32] {Threei}  such bank can't be any traditional bank
01[12:32] {Threei}  it has to be one that does nothing else
[12:32] {Les} there are banks catering only to private wealth yes
[12:33] {dino} it is what it is, people will find alternatives if they don't like the 100k insurance level. just spread it out, go to brokers, etc
[12:33] {Les} I think Singapore will see capital inflows
[12:38] {dino} pretty tough for my edge when my scanners don't scroll constantly.
[12:38] {Les} FCX 2H stopped
[12:38] {dino} trex stop .82 -.30
[12:45] {ese} signing in to sign out......catch you all tomorrow
[12:45] {Les} ciao ese
[12:45] {dino} cya
[12:46] {Will49} be good
01[12:47] {Threei}  take care ese
01[12:57] {Threei} Short Setup: C  .53
01[12:57] {Threei}  If holds  .60
01[13:02] {Threei}  this has to be the funniest yet most accurate mistype I've ever seen in a headline:
01[13:02] {Threei}  (IT) IMF: Italy banking system as a hole has a comfortable capital cusion, but banks still need to increase provisions and efficiency, not to mention profits
01[13:05] {Threei}  no?
[13:08] {dino} italy may be next. perhaps imf is worried about deposits greater than 100k
01[13:09] {Threei}  "Italy banking system as a hole"\
[13:09] {Les} yeh I got the joke
[13:09] {_littleal} It is a black hole
01[13:10] {Threei}  sure is
[13:10] {Will49} sorry Vad...just stepped out..is C still in play?
01[13:10] {Threei}  unless goes over .60
[13:10] {Will49} tks
[13:11] {dptl}  long clf .30
[13:13] {Les} looking for LVS setup short here
[13:13] {Les} would like another run at .50
[13:18] {jdetente} bye bye C
01[13:19] {Threei}  yes
[13:20] {dptl}  long low .99
[13:21] {Les} ss lvs
[13:26] {dptl} out clf
[13:27] {Les} cover half LVS
[13:31] {dptl} out low
[13:33] {dino} infi sm s .85 stop .05
01[13:33] {Threei}  good one
[13:34] {dptl} low too soon
[13:36] {backman} BBRY..short .44
01[13:36] {Threei} Short Setup: BBRY  .40 break
[13:36] {Les} sm short spy .84
01[13:36] {Threei}  thinking along the same lines, backman'
[13:36] {Les} lvs 2H stopped
[13:37] {backman} :=)
[13:38] {nemo} nanananannananananananana  BACKMAN!!!!
[13:39] {backman} nemo, u leave in boston area?....i'm up in North Andover
[13:40] {nemo} oh...you live in a tony suburb...North Andover, they use silk for toilet paper up there
[13:40] {backman} i rent...apt and tp
[13:40] {nemo} you rent tp?
[13:40] {nemo} oy vay
[13:41] {nemo} Maybe you should move to Lowell
[13:41] {backman} thinking about it
[13:41] {nemo} I wouldn't if you are white
[13:43] {nemo} North Andover pretty safe
[13:43] {Les} s lvs .38 stop abve .50
[13:43] {dptl} in bbry
[13:44] {dino} cov infi .62, +.23
[13:45] {dptl} stop .50?
[13:45] {nemo} couldn't sell the market down, now they'll check the other side of the range
01[13:46] {Threei}  .46 and .50 are both legit... one is a bit easier to be a subject of a shakeout than another
[13:46] {Les} cover half lvs
[13:47] {dptl} short cmcsa .39
[13:50] {dino} gpor
[13:50] {Les} spy stopped
[13:50] {Les} lvs stopped flat c u's tomorrow
[13:50] {backman} gd, les
[13:51] {Will49} bye Les
[13:51] {dino} cya
01[13:54] {Threei}  http://goo.gl/Q6BiE
01[13:54] {Threei}  as old joke goes, want russian to jump from the bridge - tell him it's forbideen
[13:54] {Will49} LOL
[13:59] {dptl} stop to .41 cmcsa
[13:59] {dptl} .42
[14:06] {dino} gpor sm s .50
[14:07] {dptl} to b/e cmcsa
[14:07] {dino} cov .40, +.10
01[14:08] {Threei}  you have 1:1, backman
[14:08] {backman} always a pleasure
[14:09] {backman} CLMT came in wo ...darn selling RE
01[14:12] {Threei}  rofl... insult of the day:
01[14:12] {Threei}  You are as useless as G in lasagna
[14:13] {nemo} poor Les
[14:14] {nemo} wow less than 50 mil shares of spy traded
[14:14] {dino} showing 59m here
[14:15] {nemo} this may just be market hours
[14:15] {dino} good point
[14:15] {nemo} showing 59.5 on FSC
[14:15] {nemo} broken clock...I'm right twice a day
[14:17] {dptl} trail to .43 bbry?
01[14:18] {Threei}  yup
[14:19] {dptl} should of grab .31
01[14:19] {Threei}  on such day, absolutely
[14:20] {dptl} oh well
01[14:20] {Threei}  and substituing "should of" for "should have" must become a death punishable offence
[14:28] {dptl} stopped
[14:31] {backman} afternoon, all
[14:31] {dino} cya bman
01[14:34] {Threei}  (CY) Fitch places Cyprus sovereign rating on watch negative
01[14:34] {Threei}  really?
[14:35] {dino} five sm l .72
[14:35] {dino} lol
[14:35] {dino} value added research
01[14:35] {Threei}  no kidding, lol
01[14:35] {Threei}  up to now we thought it was hunky-dory
[14:39] {dino} stop five .44 -.28
[14:42] {Will49} Vad, is there any way of knowing in first hour or so if we're going to have one of these kind of days?
01[14:42] {Threei}  is there were, think I would sit here?
[14:43] {Will49} guess it was a stupid question, eh?
01[14:43] {Threei}  :)
[14:43] {dptl} lvs .50 short?
01[14:44] {Threei}  yes
[14:44] {dptl} in .49
[14:56] {dptl} stopped.......
[14:56] {dptl} boy oh boy.....
01[14:56] {Threei}  you are just asking for it...
01[14:56] {Threei}  nothing worjks
01[14:56] {Threei}  whole day
01[14:56] {Threei}  why are you continue pushing?
[14:57] {thomcbell} agreed
[14:58] {dptl} yeah.....start asking my self if i ever gonna make it....
01[14:58] {Threei}  if you increase your frequency of trades on a low volume patternless day? no
01[14:59] {Threei}  how about following what market says? instead of "what you need"?
[14:59] {dino} now if that was bob evans w/couple burgers we'd let him in
01[15:00] {Threei}  dp, take deep breath and tell me... you want to trade or you want to make profit?
01[15:00] {Threei}  because I wonder sometimes...
01[15:00] {Threei}  it looks like you just want to tarde for trading sake
01[15:01] {Threei}  on a day when things don't move and volume is not there, you increase your activity or cut it down?
01[15:03] {Threei}  (EU) Spain PM Rajoy: Does not favor using deposits for recapitalizing banks, prefers ESM recaps
01[15:03] {Threei}  but of course
01[15:03] {Threei}  let taxpayers bail everyone else out
01[15:05] {Threei} Short Setup: JPM  .40 break
01[15:05] {Threei}  If holds  .50
[15:06] {_littleal} You know the bank that failed in Cyprys was state owned.  Shows the folly of state owned business.
[15:06] {dino} yes
01[15:06] {Threei}  honestly, I lost count of follies
[15:07] {dino} just look at obama/us govt involvement in solar
01[15:07] {Threei}  yeech
01[15:07] {Threei}  but is there even such a thing as private bank anymore?
01[15:08] {Threei}  unless it's so small that no one cares
[15:08] {jdetente} too little to care?
01[15:09] {Threei}  lol, yes
[15:09] {jdetente} I like that as a marketing slogan for a credit union lol
01[15:13] {Threei}  Invalidated
01[15:13] {Threei}  for now
01[15:13] {Threei}  may reestablish setup yet
01[15:13] {Threei}  JPM remains very weak in a strong market
[15:18] {dino} cphd spike
01[15:21] {Threei} Short Setup: JPM  .50 break
01[15:21] {Threei}  If holds  .55
01[15:21] {Threei}  let's see if mini-H&S works
[15:22] {dino} cphd sm s ave .95
[15:24] {dino} cov cphd .75, +.20
[15:28] {dptl} stopped
[15:29] {jdetente} alright guys going to call it a day. Have a good one.
[15:30] {_littleal} Bye all
01[15:32] {Threei}  take care kd, al
01[15:32] {Threei}  jd
01[15:36] {Threei}  volume is less than half of yesterday's
01[15:36] {Threei}  no wonder nothing happens
[15:39] {dino} yeah
01[15:41] {Threei}  day when you pick trades with 5 cents stops and wait for some event to trigger real action
01[15:41] {Threei}  other than that, sit on your hands
[15:42] {Will49} your advice about setting stop loss on profits kinda saved me today...tks
01[15:42] {Threei}  good to hear
01[15:43] {Threei}  see, these money management tricks really work
[15:43] {dino} logm spike
[15:43] {Will49} probably down about a third of what it could have been
01[15:44] {Threei}  discipline, however frustrating it sometimes is... saves our bacon
[15:45] {Will49} amen
[15:46] {dino} logm halt/
[15:46] {dino} ?
01[15:46] {Threei}  yes
01[15:46] {Threei}  for news pending
[15:46] {Les} we in anything?
01[15:46] {Threei}  in coma
[15:46] {dino} hey Will, thats good trading keeping the profits stop
[15:46] {dino} gj
01[15:47] {Threei}  NYSE volume 18% below 3-months ave
01[15:47] {Threei}  same for NASDAQ
01[15:47] {Threei}  oh boy
01[15:47] {Threei}  look at this beauty
01[15:47] {Threei}  (CY) Eurogroup's Dijsselbloem: A levy on wealth can be defended in principle - EU parliament discussion on Cyprus
01[15:48] {Threei}  A levy on wealth
[15:48] {Will49} dino...in today's case, staunching the blood flow :)
01[15:48] {Threei}  f(*&^ng communists
[15:48] {Les} lol
[15:48] {dino} agreed 3i
[15:49] {Les} looks like  a dutch fascist who made that comment
01[15:52] {Threei}  if not the time, BBRY would be a .40 break short
[15:53] {dino} lets hope for more volume tomorrow
[15:53] {dino} gn all
[15:53] {Will49} tomorrow's another day (thank God) cheers
01[15:53] {Threei}  ok guys, thank you all
01[15:53] {Threei}  have a good evening, we will get them tomorrow
[15:53] {Les} cheers
[15:55] {thomcbell} manana