Oct 19 2011

(Participation in the room in real time requires membership)

Another great day with a lot of nice winning trades ranging from 1:1 to 1:4. As soon as market gets out of that "slow creep-up" mode, we are in our element.


Session Time: Wed Oct 19 00:00:00 2011
[08:30] {Threei}  US) SEPT CONSUMER PRICE INDEX M/M: 0.3% V 0.3%E
[08:30] {Threei}  *(US) SEPT HOUSING STARTS: 658K V 590KE; BUILDING PERMITS: 594K V 610KE
[08:48] {Threei}  ok... sit around, don't sit around, at some point gotta start (as huge drunkard at Russian wedding said before hitting sitting next to him in the ear)
[08:50] {swill} gentlemen, start your engines
[08:51] {Threei}  shhhhh... for nemo it's a signal to start pouring whiskey in his throat as a fuel
[08:51] {nemo} what do you have one of those biodiesel's running on cooking fat, swill?
[08:51] {nemo} vodka
[08:51] {swill} lol
[08:53] {swill} caffeen for me
[08:53] {Threei}  well, per ese caffein works too - when taken intravenously
[08:54] {swill} have you seen the movie, limitless.  Like that
[08:54] {Threei}  no... new one?
[08:54] {swill} four weeks ago I think
[08:56] {Threei}  unless we are talking new Bond movie, I am usually running with big delay on new releases... :)
[08:57] {swill} I'll loan it to you
[08:58] {Threei}  thanks... I'll whistle when ready :)
[08:58] {Threei}  or scream
[08:58] {swill} lol
[08:59] {Threei}  http://www.facebook.com/photo.php?fbid=276100932424589&set=a.237133656321317.63196.235739863127363&type=1&theater
[09:01] {swill} seems they will have slow growth there
[09:02] {Threei}  slow growth?
[09:02] {Threei}  rofl
[09:02] {Threei}  that's one way to name a crash
[09:02] {swill} lol
[09:03] {swill} btw, what set up were you using yesterday vad?
[09:03] {Threei}  ?
[09:04] {Threei}  for what?
[09:04] {swill} did you mention a pattern in the chat room
[09:04] {Threei}  not sure what you mean... there were 5 calls
[09:05] {Threei}  each was different setup
[09:05] {swill} ok, I missunderstood.  thanks
[09:07] {ese} morning
[09:07] {Threei}  ese, we were just talking about you
[09:08] {Threei}  [08:53] {swill} caffeen for me
[09:08] {Threei}  [08:53] {Threei} well, per ese caffein works too - when taken intravenously
[09:08] {ese} oh oh
[09:09] {ese} ya .....what can i say....i like keep a hypodermic around for cafine injection in the morning
[09:09] {swill} lol
[09:16] {dino} gm all
[09:16] {Threei}  dino :)
[09:22] {ese} d
[09:26] {RonS} hello everyone...
[09:27] {Threei}  ron :)
[09:28] {_tarkus62} gm all
[09:28] {Threei}  tarkus :)
[09:28] {Threei}  targeting FCX for short
[09:28] {Threei}  half lot
[09:28] {larisa} gm :)
[09:28] {_tarkus62} k cool
[09:28] {Threei}  larisa :)
[09:29] {ese} tarkus buddy.......i shop at your stores alot.......
[09:29] {ese} opps sorry thats target.........my mistake
[09:29] {_tarkus62} lol
[09:30] {ese} welcome to the board.........
[09:30] {Threei}  SLW too
[09:30] {Threei}  FCX bounces
[09:31] {Threei} Short Setup: FCX  .40 break
[09:31] {Threei}  invalidated of course
[09:31] {nemo} hehehehehe
[09:31] {Threei}  change to .80
[09:32] {Threei}  .90
[09:32] {Threei}  if stays under 36
[09:32] {Threei}  got .87
[09:33] {Threei}  half out
[09:33] {Threei}  .67
[09:33] {Threei}  out in full
[09:33] {Threei}  .45
[09:33] {Threei}  whew
[09:34] {dino} gj
[09:34] {Threei}  missed SLW meanwhile
[09:34] {cipher} wow
[09:34] {_tarkus62} nice
[09:34] {cipher} thx 3i
[09:34] {Threei}  welcome sir
[09:34] {Threei}  awww, too soon
[09:34] {Threei}  look at this
[09:34] {thomcbell} molto bene Three
[09:34] {Threei}  :)
[09:35] {cipher} rollecoaster
[09:35] {cipher} thank god for hot keys
[09:36] {Threei}  ugh SLW
[09:36] {Threei}  this one seriously got away
[09:36] {Threei}  ok, don't get scared but
[09:36] {Threei} Short Setup: FCX  35 break
[09:36] {Threei}  half lot
[09:37] {Threei}  invalidated for now but will stay on radar
[09:37] {dino} aem sm l .65
[09:37] {Threei}  actually... maybe aggressive entry
[09:37] {Threei}  .10 break
[09:37] {Threei}  stop above .20
[09:38] {Threei}  invaidated too
[09:38] {dino} stop -.22
[09:40] {dino} rinsed
[09:40] {Threei} Short Setup: WFC  .10 break
[09:40] {Threei}  if stays under .20
[09:41] {Threei}  target 1:2, two partials
[09:41] {Threei}  1:1
[09:42] {Threei}  stop to .11 of course
[09:43] {Threei} Long Setup:  RIMM  .95
[09:43] {Threei}  if stays above .85
[09:45] {Threei}  invalidated
[09:45] {Threei}  WFC target hit
[09:48] {Threei} Long Setup:  RIMM  .80 break
[09:49] {Threei}  if stays above .70
[09:50] {Threei}  let's trail to .74
[09:50] {Threei}  looks good but it's RIMM, want to keep it on a tight leash
[09:52] {Threei}  market sharp red bar
[09:52] {Threei}  out
[09:53] {Threei} Short Setup: GS  104 break
[09:53] {Threei}  small shares
[09:53] {Threei}  stop above .20
[09:53] {Threei}  no worky
[09:54] {Threei}  crap, we missed that FCX 35 short
[09:54] {dino} aem capit
[09:55] {RonS} flood and mine closing...
[09:55] {RonS} not going near it
[09:56] {cipher} aem good one thx dino!
[09:56] {dino} gj
[09:58] {Threei} Long Setup:  LVS  45 break
[09:58] {Threei}  if stays above .90
[09:58] {Threei}  target 1:3
[09:58] {Threei}  3 partials
[09:59] {Threei}  1:1
[09:59] {Threei}  stop to .98
[09:59] {dino} cma sm l .60
[10:00] {Threei}  1:2
[10:00] {Threei}  % of deaf, blind and stupid if determined:
[10:00] {Threei}  is
[10:00] {Threei}  6% Rate U.S. Economy As Good or Excellent
[10:01] {dino} cma stop -.12
[10:01] {cipher} wow AEM
[10:02] {Threei}  done with LVS
[10:02] {cipher} stepping out... need to change my diapers :-)
[10:02] {Threei}  lol
[10:04] {Threei} Short Setup: FCX  .60 break half lot
[10:04] {Threei}  stop above .70
[10:04] {Threei}  aggressive entry for .50 break
[10:04] {Threei}  no go
[10:05] {ese} dino you out of aem
[10:07] {dino} no
[10:07] {Threei}  wow LVS
[10:07] {Threei}  ca I have mulligan?
[10:08] {dino} got out long time ago 48.43
[10:08] {dino} did not re enter yet
[10:08] {dino} cma rinsed
[10:09] {RonS} in cma .52 ave
[10:10] {RonS} target .94
[10:12] {RonS} out .94 +.42 ese size...u da man dino
[10:13] {dino} wtg
[10:15] {nemo} apkt
[10:15] {Threei} Short Setup: FCX  35 break
[10:16] {Threei}  stop above .10
[10:16] {Threei}  target 1:2, 1:3
[10:18] {ese} nice one ron!!!!!!
[10:18] {Threei}  let's scratch it here
[10:18] {Threei}  yup
[10:18] {Threei}  something didn't look right
[10:21] {ese} L STX .19
[10:24] {Threei}  wow
[10:24] {ese} i'll say......6th sense there vad
[10:26] {dino} csh l break .00
[10:27] {ese} stx 1/2 out .31 +.12
[10:27] {dino} nxpi l .65
[10:30] {Threei}  *DOE CRUDE: -4.73M V +1.5ME; GASOLINE: -3.3M V -1.5ME; DISTILLATE: -4.27M V -1.5ME; UTILIZATION: 83.1% V 83.6%E
[10:31] {ese} out stx full .46 +.27....good enough  1k/1k ron
[10:31] {dino} gj
[10:31] {ese} tks
[10:32] {ese} am eyeing aem
[10:35] {dino} out nxpi +.03
[10:35] {cipher} long or short ese?
[10:40] {ese} am thinkin long
[10:40] {ese} depends on this bounce
[10:41] {ese} classic dino in at .00 maybe
[10:42] {ese} in .01 aem
[10:42] {cipher} nice
[10:43] {ese} out 1/2 avg .21
[10:43] {ese} break even balance
[10:44] {ese} stop to .15
[10:44] {dino} gj
[10:44] {ese} .20
[10:45] {ese} daaaaaaaaaa stopped .19 +.18
[10:45] {RonS} nice management...gj
[10:46] {Threei}  very
[10:46] {Threei}  refined way to trade
[10:46] {ese} must apologise that was not classic dino........his would have been +1.50
[10:46] {dino} not today,getting rinsed alot
[10:46] {Threei}  well, that's the difference between man and dinosaur... SIZE!
[10:46] {dino} thats what she said
[10:46] {RonS} ya but there is dino size, then there is ese size
[10:47] {RonS} lol
[10:47] {ese} that went 1k/1k ......no biggie
[10:48] {ese} STX still staying strong may go in there again sm
[10:48] {RonS} ...freakin 1%'er...
[10:49] {Threei}  lol
[10:49] {ese} ya but don't forget.......these thing can go against ya faster big time
[10:50] {dino} cma l .55
[10:50] {RonS} true 'dat...'specially a mining stock w/ a closed flooded mine
[10:50] {ese} definite;ly
[10:52] {RonS} btw for canuckian education:  true 'dat is a cajun expression
[10:52] {ese} like i said before....it's just cruise control these days....am not likely to be doing 10k/15k like iwas doing3 years ago......chuck a dart at a stock.....thats the one going up
[10:53] {dino} you're a piece of work ese
[10:53] {ese} spring 08/09? hmmmmm can't remember
[10:53] {RonS} ...and fwiw cajuns are French Arcadians captured and transported to Lousiana by the Bristish in the early 18th century
[10:54] {Threei}  Ron... this is slippery slope: a few days more and you are going to start speaking Swahili with us
[10:54] {RonS} ...that's the main reason Louisiana is so weird
[10:54] {ese} I shoulda stayed there.......would have had a better chance at playing music for a living in New Orleans
[10:55] {dino} we all have shoulda's
[10:55] {RonS} for me plus woulda's and shoulda's
[10:55] {ese} dats fur shuah
[10:55] {RonS} sorry coulda's
[10:57] {ese} ya like.....I shoulda made to Mertle to golf with dino
[10:57] {ese} thats still on the hit list
[10:58] {dino} ;)
[10:58] {dino} cma stop -.09
[10:59] {ese} gotta do that before my shoulders can't turn a full 90 degrees to hit a golf ball prpperly
[11:00] {RonS} seen many codgers that does not hurt their game much
[11:00] {dino} too much tequila on this last trip, was hurting couple days
[11:01] {dino} air pocket drop
[11:01] {dino} wtf cma rinsed again, that makes 3
[11:03] {RonS} dunno if i will play it but knl reported great qtr and look...
[11:05] {dino} think we have to
[11:08] {RonS} At least 14 police officers hospitalized with injuries in clashes with Greek demonstrators
[11:09] {nemo} funny, width of my window breaks up the words so it says "clashes with Greek demons"
[11:09] {dino} lol
[11:09] {dino} knl l .55
[11:17] {nemo} sina
[11:18] {RonS} sohu
[11:18] {RonS} chinese burrito stock...dang, etc
[11:21] {dino} knl stopped, sheesh
[11:24] {Threei}  EU's Van Rompuy: might have to consider changing unanimity rules for making euro zone decisions; all EMU countries should yield some sovereignty as part of greater integration
[11:24] {Threei}  heh
[11:24] {dino} lol
[11:24] {dino} lets see that pass a vote
[11:24] {RonS} these guys chewing peyote over there?
[11:24] {nemo} WHERE???
[11:25] {ese} just dropped the kids off at school and now I gotta go.....cya tomorrow
[11:26] {Threei}  take care ese
[11:26] {dino} cya ese gj
[11:28] {dino} last try cma sm l .39
[11:38] {RonS} sm l knl .93
[11:38] {cipher} me too in knl .95
[11:40] {cipher} stopped
[11:41] {dino} sm l .76 knl
[11:46] {dino} cma to flat
[11:56] {dino} knl stopped.
[11:56] {dino} taking a break, i suck today
[11:59] {cipher} l knl .12
[12:00] {cipher} out partial .39
[12:03] {Threei}  nice
[12:05] {cipher} out another partial at .49
[12:06] {RonS} knl l .40 ave
[12:06] {Threei}  getting back in the groove, cipher :)
[12:07] {cipher} seems like it
[12:10] {cipher} misjudged my last exit knl only got 100 filled at .60
[12:13] {cipher} here we go out rest +.48
[12:13] {Threei}  wtg
[12:13] {dino} apkt sm l .00
[12:14] {dino} wtg cipher
[12:14] {cipher} thx
[12:18] {cipher} first positive day for me
[12:18] {RonS} out knl .68 +.28 ese size
[12:18] {cipher} I will leave while ahead
[12:18] {cipher} take care cu tomorrow
[12:19] {RonS} cya cipher and thanks...best day in months for me...
[12:19] {dino} cya cipher
[12:20] {Threei}  take care cipher, gj
[12:20] {Threei}  not bad, a few days after starting out
[12:39] {Threei}  declaration draft by OWS says:
[12:39] {Threei}  4. A complete lifetime ban on accepting all gifts, services, money, directly or indirectly, to any elected or appointed federal officials or their immediate family members, from any person, corporation, union or other entity that the public official was charged to regulate while in office.
[12:40] {Threei}  I understand President will be forever banned from accepting a bottle of wine for his birthday from anyone
[12:40] {Threei}  since he regulates whole USA population, in a sense
[12:42] {Threei} Short Setup: LVS  .50 break
[12:48] {Threei}  come on .60, hold
[12:53] {Threei}  no go
[12:53] {dino} aqpkt stop -.21
[12:54] {dino} apkt
[12:57] {RonS} fl rumor...
[12:58] {dino} f'ing rinses, apkt makes 4
[13:03] {Threei}  https://sites.google.com/site/the99percentdeclaration/
[13:04] {Threei}  incredibly eclectic mix of correct, naive, unworkable and idiotic
[13:11] {dino} apkt rinses me and runs .70. wtf
[13:20] {Threei}  (EU) EFSF technical discussions now centering around purchases of collateral for guarantees, after legal experts say direct guarantees are not possible - financial press
[13:20] {RonS} who is riding and who is driving?  :  WSJ: EU Lawyers Have Rejected Direct EFSF Guarantees
[13:20] {Threei}  this all is so wrong...
[13:21] {Threei}  it's like if you find yourself on the wrong road, you continue driving further with oncreased spped instead of turning back
[13:21] {Threei}  and hope it will get you where you need to be
[13:22] {Threei}  this course of action got you there - reverse it, for pete's sake!
[13:22] {Threei}  why do more of what got you in troubles in the first place?
[13:28] {dino} rnow blood
[13:31] {RonS} pretty funny...from you bud 3i:  http://tinyurl.com/3mkc6vh
[13:34] {Threei}  heh
[13:34] {nemo} http://www.klfy.com/story/15717759/second-hand-dealer-law
[13:35] {RonS} hah...like anyone in LA pays any attention to the law...
[13:36] {dino} sina sm l .00
[13:38] {RonS} idiocy unleashed:  http://tinyurl.com/5wvr925
[13:40] {dino} stopped
[13:40] {RonS} starting to get a faz itch...copper -.11
[13:40] {dino} 5th rinse
[13:47] {Threei}  GR) Greece Parliament said to have begun voting process on supplemental austerity bill, ahead of final austerity vote expected on Thursday - financial press
[13:47] {Threei}  - REMINDER: Greece is in the midst of a 48-hour general strike in protest of the new austerity measures.
[13:55] {RonS} hearing beige book in 6 min
[14:00] {Threei}  yeah
[14:00] {Threei}  just started
[14:01] {Threei}  *(US) FED'S BEIGE BOOK: ECONOMY GREW AT A MODERATE AND SLIGHT PACE; COST PRESSURES EASING IN MOST REGIONS
[14:01] {Threei}  looong
[14:01] {Threei}  and useless
[14:04] {RonS} fidelity reported that sarkozy says bail fund expansion talks have stalled
[14:04] {RonS} look V
[14:04] {RonS} caw, caw
[14:07] {Threei}  what's woth it?
[14:07] {Threei}  I see no news
[14:08] {RonS} me either
[14:08] {dino} div raised
[14:08] {RonS} More Lawsuits Take Aim At Visa And MasterCard ATM Policies       10/19 11:36 AM
[14:08] {RonS} ??
[14:16] {RonS} v sm l .89
[14:16] {RonS} should say vsm l...one way or another...
[14:18] {RonS} out -.18
[14:27] {Threei}  hmmm
[14:27] {Threei}  why no news on wires
[14:27] {Threei}  re: fidelity
[14:27] {nemo} what happened
[14:27] {Threei}  as always... dino had to trip of the cord and unplug the market
[14:28] {dino} sorry
[14:28] {nemo} clumsy oaf!
[14:28] {dino} been that kind of day
[14:40] {Threei} Long Setup:  TZA  .50 break
[14:40] {Threei}  half lot
[14:43] {nemo} after that run I just couldn't...God bless ya
[14:43] {Threei}  half out
[14:43] {Threei}  stop to .48
[14:45] {Threei}  scalpers win
[15:04] {Threei} Long Setup:  FAZ  51 break
[15:04] {Threei}  half lot
[15:05] {Threei}  stop under .90 or .85
[15:05] {Threei}  both are valid
[15:05] {Threei}  target .45
[15:06] {Threei}  half out .18
[15:06] {Threei}  stop to .95
[15:13] {RonS} sorry, stepped away...can't handle the chop
[15:25] {RonS} see youze tomorrow...have an appt...
[15:26] {Threei}  take care ron
[15:33] {nemo} mmmhhh bids higher than offers on tna
[15:35] {Threei}  INET seems to be having problems
[15:37] {nemo} wonder if they got hacked
[15:41] {Threei}  nice smacking
[15:56] {Threei}  thank you all, have a great evening
[15:56] {Threei}  see you tomorrow

Sep 27 2011

(Participation in the room in real time requires membership)

Let's start today's log with updates on SPY and swing trade SVM since both put on some meaningful changes today.

Addition: end of day selling, even though (barely) left us within the channel, took a lot of luster off the rally. If I were a bull, I would be alarmed. Shakiness of a rally based on hope for the next fix...

SVM daily - so far so good, not only double bottom support held, but it a stock also demonstrated nice relative strength during big market selloff, and returned into profitable territory above the entry:

As most of gap up and slow climb days, this one wasn't exactly our trading environment. Best trade came when market reversed; wasn't enough to take us back into positive though.


Session Time: Tue Sep 27 00:00:00 2011
[08:46] {Threei}  European shares continued to rally after policy makers in Europe are making more efforts to deal with the crisis in the Eurozone. An option being discussed is the European version of the TARP where a 'bad bank' would be created to buy the toxic sovereign debt. This and other options are being discussed.
[08:49] {Threei}  http://www.facebook.com/RealityTrader/posts/266119143422768
[08:51] {patience} good morning
[08:51] {Threei}  morning patience
[09:05] {Threei}  SVM swing trade plays out nicely so far
[09:08] {nemo}  we just hit daily R2 in the pre market
[09:16] {dino} gm all
[09:17] {RonS} gm...eur futes really whippy...feel like today will be tough
[09:17] {Threei}  dino :)
[09:17] {Threei}  ron :)
[09:17] {Threei}  it's a very shaky rally
[09:18] {Threei}  that's why it's so whippy and jerky,
[09:18] {Threei}  ready to retreat on moment's notice
[09:20] {nemo} it's life by the headline
[09:21] {larisa} gm :)
[09:21] {Threei}  larisa :)
[09:21] {larisa} vad :)
[09:21] {Threei}  I don't have clear opening trade
[09:21] {nemo} probably better anyway
[09:21] {Threei}  let's wait out first mniutes
[09:22] {dino} markets remind me of : pins and needles, needles and pins, the happy man is the man that grins (honeymooners)
[09:25] {Threei}  :)
[09:26] {Threei}  FCX begs to be shorted
[09:26] {Threei}  so does SLW
[09:26] {Threei}  if we are lucky they will give clean setup
[09:27] {thomcbell} decent volume on fcx for pre-open though
[09:28] {dino} mind the gaps, 11122, 2258, 1166
[09:31] {Threei} Short Setup: FCX  .90 brewak
[09:31] {Threei}  haklf lot
[09:31] {dino} filled
[09:32] {Threei}  invalidated but remains on radar
[09:32] {Threei} Short Setup: FCX  .20 break
[09:32] {Threei}  stop above .30
[09:32] {Threei}  1:2
[09:33] {ese} gm
[09:33] {nemo} right
[09:33] {Threei}  ese :)
[09:33] {Threei}  SLW
[09:33] {Threei}  sharp spike
[09:33] {Threei}  looking for short entry
[09:34] {Threei} Short Setup: FCX  36 break
[09:34] {Threei}  half lot again
[09:34] {nemo} so fast
[09:35] {Threei}  and 1:1 again
[09:35] {z} couldn't catch that one
[09:35] {Threei}  if you are not getting filled, do not chase
[09:35] {Threei}  just let them go
[09:35] {Threei}  and whatever you do, NO MARKET ORDERS
[09:35] {Threei}  FCX horrible death
[09:35] {Threei}  looks at this
[09:36] {nemo} wow...wag
[09:37] {Threei}  SLW, never gave entry
[09:41] {ese} Lftk .46
[09:42] {dino} csh sm l .53
[09:42] {Threei} Long Setup:  FCX  .50 break
[09:42] {Threei}  half lot still
[09:42] {Threei}  if stays above .35
[09:43] {Threei}  invalidated
[09:43] {Threei} Long Setup:  SLW  .65 break
[09:43] {Threei}  change to .60 break
[09:43] {Threei}  if holding .50
[09:44] {thomcbell} excellent fcx
[09:44] {ese} out ftk .46
[09:44] {thomcbell} flat here
[09:44] {ese} even
[09:44] {ese} hmmmmmmmmmm
[09:44] {Threei}  invalidated
[09:44] {ese} feelin out of sync again
[09:46] {Threei} Long Setup:  RIMM  .80 break
[09:47] {Threei}  if stays above .80 if course
[09:47] {nemo} ?
[09:47] {Threei}  .70
[09:47] {Threei}  SLW guves no chance today
[09:47] {Threei}  look at this jump
[09:49] {Threei}  RIMM hammer
[09:49] {nemo} resistance at .95
[09:49] {Threei}  not 22?
[09:49] {Threei}  to me 22 loks more significant
[09:51] {ese} boy am I outta sync....ftk gave me what i wanted....daaaaaaaaaa!!!!!
[09:52] {dino} meli sm l .70 ave
[09:52] {ese} well......on the good side.....I met the Governor General of Canada yesterday......my pop choir got a standing ovation at city hall Vad......
[09:52] {Threei}  cool :)
[09:52] {ese} very nice man
[09:53] {ese} wanted to tell him to put in a good for us with the queen but didn't have the nerve
[09:53] {ese} word
[09:53] {Threei}  hehe
[09:53] {Threei}  SLW, we got the direction correct twice, and haven't found an entry in either case
[09:54] {nemo} numbers coming
[09:55] {Threei}  consumer confidence and richmond fed
[09:55] {Threei}  let's sell half RIMM here
[09:55] {Threei}  to cut risk down
[09:55] {Threei}  was 1 cent from 1:1
[09:56] {dino} out meli .05, +.35
[09:56] {Threei}  and trail stop to .74 for another half
[09:56] {dino} out csh .18, +.65
[09:57] {Threei}  wtg
[09:57] {Threei}  (GE) Eleven MPs from the German ruling coalition (CDU/FDP) are said to vote against EFSF, two abstain in test vote ahead of official vote on Thurs. Sept 29th - financial press
[09:57] {Threei}  **Reminder: On Sept 6th financial press report of a test vote indicated 12 dissenters in the CDU with 7 abstentions. with another 2 dissenters in her FDP ally.
[09:57] {Threei}  - Chancellor Merkel would require opposition for majority if 21 lawmakers vote no/abstain.
[09:57] {dino} thx
[09:59] {Threei}  *(US) SEPT RICHMOND FED MANUFACTURING INDEX: -6 V -11E
[10:00] {Threei}  *(US) SEPT CONSUMER CONFIDENCE: 45.4 V 46.0E
[10:01] {Threei} Short Setup: X  .40 break
[10:01] {Threei}  half lot
[10:02] {Threei}  stop above .50
[10:02] {thomcbell} amzn horrible action
[10:03] {Threei}  1:1
[10:04] {Threei}  out RIMM
[10:04] {Threei}  X 1:2, out
[10:05] {dino} 07 red
[10:05] {dino} gj
[10:05] {Threei}  good risk management on RIMM
[10:05] {Threei}  +.03 and -.07 oin what would have turned a full stop
[10:09] {Threei} Short Setup: X  .40 break
[10:09] {Threei}  deja vu
[10:11] {Threei}  stop above .50
[10:13] {Threei}  no go
[10:15] {Threei}  (GE) Germany Chancellor Merkel said to have informed party members that a Greece default cannot be ruled out - financial press
[10:15] {Threei}  see this spike down SPY?
[10:15] {Threei}  market is totally "headline to headline"
[10:19] {ese} agreed
[10:20] {Threei} Short Setup: SLW  34 break
[10:20] {ese} L nuan .70
[10:20] {Threei}  if stays under .10
[10:20] {ese} blast from the past
[10:20] {Threei}  target 1:3
[10:21] {Threei}  wow, really... haven't heard this name in a while
[10:21] {dino} neog sm l .83
[10:23] {Threei}  no wprky SLW
[10:23] {ese} well done on csh by the way dino
[10:23] {nemo} rimm
[10:24] {Threei}  RIMM Hearing vague chatter that Icahn may be building a stake
[10:24] {Threei}  no way
[10:24] {ese} like that....no waperky
[10:25] {dino} thx ese
[10:25] {Threei}  IMO RIMM is short
[10:25] {Threei}  but entry is tough
[10:25] {Threei}  very hectic trading
[10:26] {Threei}  this is bogus rumor
[10:27] {ese} interesting rumor
[10:28] {thomcbell} he was involved on MOT for a while
[10:29] {ese} lets go nuan.........me thinks you have 21 in ya
[10:31] {Threei} Long Setup:  FCX  .55
[10:31] {Threei}  if stays above .45
[10:32] {Threei}  RIMM looks exhausted
[10:32] {Threei}  but still too jumpy for my taste
[10:33] {nemo} vwap .66 for fcx
[10:34] {Threei}  my target is .95, 3 partials
[10:36] {Threei}  FCX, are you blind? look at SPY
[10:36] {dino} out neog .15, +.32
[10:36] {Threei}  huh.. no worky
[10:36] {ese} out 1/2 nuan .80 +.10
[10:36] {Threei}  not delighted... 3 in a row
[10:37] {Threei}  backing off a bit
[10:46] {ese} out in full nuan .88 +.18
[10:46] {Threei}  nice
[10:47] {ese} no sense in getting greedy now
[10:47] {Threei}  FCX rinsed us
[10:47] {Threei}  not nice of it
[10:48] {nemo} we might get a move here, subtle uptick in spy volume since 10:35
[10:54] {dino} gj ese
[10:54] {dino} aeh spike
[10:57] {Threei}  grrr
[10:57] {Threei}  hate rinses
[10:59] {ese} tks
[10:59] {nemo} .50 area next tarkegt for spy
[11:00] {dino} neog sm l .17
[11:00] {Threei}  and here is FCX, proceeding to my 1:4 target
[11:00] {nemo} yeah, went with spy
[11:00] {Threei}  someone shoot me
[11:01] {swill} I'll take the market out back and shoot it
[11:01] {Threei}  even better
[11:02] {Threei}  nemo must be losing his touch...
[11:02] {Threei}  I suggest to sholot me, and he doesn't pull the trigger and reload that very second?
[11:02] {nemo} you've asked so many times
[11:02] {Threei}  we might be seeing wat no one ever thought we would: kinder gentlier nemo
[11:03] {nemo} bored nemo
[11:03] {nemo} it's rabbit time!!!!
[11:03] {nemo} kicking myself for not taking tna when I alerted the spyvolume
[11:04] {nemo} I think 121 area possible today in spy
[11:04] {ese} huh!!!!!!  kinder gentler.......sheesh
[11:04] {Threei}  hard to imagine eh?
[11:05] {ese} daaaaaaaaa  and just as i say that the blast from the past makes a run at 21....sucre blu......
[11:06] {ese} why I otta.........
[11:06] {dino} neog stop ..87 -.30
[11:06] {swill} It's always darkest before pitch black, then the light
[11:08] {ese} speaking of blast from the past.......would that handle be middle ages swill.......or Roman swill.......or even viking swill........hmmmmmmmm   got me thinkin
[11:08] {Threei}  ese, before you go too far on this dubious road and hurt yourself - you do remember that thinking is harmful and actually strictly fdorbidden here?
[11:09] {swill} lol
[11:09] {ese} ahhhhhhhh........ya your right boss......it won't happen again
[11:09] {Threei}  I mean, no matter how soft nemo could have gine on us, thinking is something that he will punish as sure as feed his rabbit
[11:10] {dino} somebody slap him
[11:11] {nemo} did I tell ya' bunny bit me yesterday...thought we were playing, guess she thought otherwise.  Those are 4 big teeth
[11:12] {ese} but wait a minute..........nemo thinks all the time.....thats not fair........"wahhhhhhh!!!!....whine complain wahhhhhhh!11
[11:12] {ese} ok....thats my temper tantrum for the day
[11:12] {ese} i'm good
[11:12] {Threei}  lol
[11:13] {Threei}  AAPL... iPHone 4 is coming next week
[11:13] {nemo} not true...I think outside the trading day...I've just been reporting on what I see
[11:13] {Threei}  fnally
[11:13] {Threei}  I ignored 1, 2 and 3 - now I finaly get to ignore 4
[11:14] {RonS} am waiting for the iphone10...
[11:14] {ese} lol
[11:14] {ese} eggzactilly
[11:15] {ese} thats supose to be the one with the Star Trek teleporter built in isn't it?
[11:15] {RonS} or until the blackberry changes to the raspberry...hum...may have already happened...
[11:15] {Threei}  and bottle opener
[11:16] {nemo} dingleberry
[11:16] {Threei}  RIMM
[11:16] {Threei}  MUST BE TIME TO SHORT
[11:16] {Threei}  23 BREAK
[11:16] {ese} you point it at yourself and your instantly transported trough the telephones to whomever your talking too i believe
[11:16] {Threei}  sorry caps
[11:16] {RonS} for the amish...lingenberry...
[11:16] {ese} lol
[11:16] {Threei}  in
[11:17] {Threei}  target 1:4
[11:17] {nemo} stop?
[11:17] {Threei}  .10 or .15
[11:17] {Threei}  both are valid
[11:17] {nemo} vwap .65
[11:17] {Threei}  no more games RIMM, just roll over and die
[11:20] {ese} how dare you say that vad.....it's a canadian company....it has rights
[11:21] {Threei}  it has right to drop....
[11:21] {Threei}  especiaally when I am short
[11:21] {ese} definitely
[11:21] {nemo} yeah, a right to euthanasia
[11:21] {RonS} ya, like the right to go out of business...
[11:21] {ese} more definitely
[11:21] {ese} ya ya.....thats it
[11:21] {nemo} I think this Icahn thing holds it up most of the day
[11:21] {Threei}  and I'd greatly appreciate it exercising this right
[11:22] {nemo} I thik it drops .98 here might have a chance
[11:22] {Threei}  I just don't bwelieve that Icahn thing
[11:22] {nemo} me neither but "news" is what is moving the market
[11:23] {nemo} you're thinking Vad
[11:23] {Threei}  (GE) Germany Econ Min Roesler reiterates that a leveraging of the EFSF is not an option
[11:23] {Threei}  I am lost
[11:24] {nemo} btw, spy bounce at .72 area reasonable
[11:24] {Threei}  if germaany doesn't leverage EFSF, doesn't it mean EFSF is dead?
[11:25] {Threei}  (HU) Moody's comments on Hungary Govt change to mortgage contracts; feels a dangerous precedent has been set
[11:26] {nemo} we should hear about a Eurobond soon
[11:26] {RonS} out rimm
[11:29] {ese} am outta here.....catch you all tomorrow
[11:30] {Threei}  take care ese
[11:32] {nemo} http://www.dailymail.co.uk/sciencetech/article-2042428/Earth-cross-hairs-huge-solar-storm-caused-sunspot-1302.html
[11:33] {dino} cya ese
[11:37] {RonS} hmmm. dax closed just shy of +5%
[11:38] {dino} sm l .54 neog
[11:38] {Threei}  OK, today is officially not my day
[11:39] {Threei}  second rinse in a row
[11:50] {nemo} tna could be a play with spy moving above .75
[11:51] {nemo} iwm holding well
[11:51] {nemo} spy at vwap btw
[11:54] {nemo} in .08
[11:54] {Threei}  RIMM does FCX... proceeds toward the target, after shaking us out
[11:54] {nemo} 1/2 .25
[11:54] {nemo} stop to b/e
[11:56] {nemo} might add back spy above .85
[11:57] {nemo} damn stuck edgx quotes...why does that happen with them alone
[11:57] {nemo} 1/2 out again .38
[11:58] {nemo} stop .14
[11:58] {Threei}  nice
[11:58] {nemo} ty
[11:59] {nemo} spy was at vwap and the morning trendline, not to mention just above R2, figured those were supports
[11:59] {nemo} took the other half the second here
[12:00] {nemo} I'll have to record that T&S pattern between spy and IWM/TNA...I see that regularly
[12:01] {nemo} they both bid up to a level, then sell down.  spy bids back up to the level but IWM does not.  Spy then sells down again.  The third time spy rebids the level and then breaks, it goes
[12:02] {nemo} IWM actually lead the spy break but spy is moving up
[12:04] {nemo} might take a 1/2 lot more if spy get's .05
[12:05] {nemo} stop under .20 now
[12:06] {nemo} having said that, spy has trend support at .85
[12:07] {nemo} added .41
[12:07] {nemo} half lot
[12:08] {nemo} eh. out that .43 don't like the resistance at .50
[12:08] {nemo} probably wussed
[12:08] {nemo} yep
[12:08] {nemo} but, was trying to anticipate momo
[12:08] {Threei}  well played anyway
[12:09] {nemo} ty
[12:09] {nemo} still might work, I'm just not a good momo player
[12:09] {nemo} wuss wuss wuss wuss wuss wuss wuss
[12:11] {Threei}  hmmm... think it was a little on a wussy side?
[12:11] {dino}  lol
[12:11] {nemo} yeah, but I still have half the original, I just got out of the re buy
[12:11] {nemo} small consolation, I know
[12:12] {nemo} the emotional damage to my self esteem for being a wuss, is greater than the financial reward....sniff
[12:12] {nemo} I'll take it here .74
[12:13] {nemo} I think spy goes to .65 anyway, but, as we said, I'm a wuss
[12:24] {nemo} spy forming C&H
[12:24] {nemo} or DT
[12:24] {nemo} TT
[12:25] {nemo} having said that .72 is vwap and .50% july 10 retracement support with trendline at .95
[12:29] {Threei}  total puzzle to me:
[12:29] {Threei}  Royal Bank of Canada SEC said to sue over the sale of unsuitable CDO investments to Wisconsin school districts - financial press- RBC to pay approx $30M to settle the suit. ***Reminder: On Aug 10th, there were press reports that RBC was facing a SEC probe in relation to sales of derivatives to school districts in Wisconsin
[12:29] {Threei}  how on earth someone could sell to them what they didn't need or want?
[12:29] {dino} by lieing to them
[12:30] {dino} speling
[12:30] {dino} spelling, sheesh
[12:30] {Threei}  hehe
[12:31] {Threei}  so it's a case of misrepresentation? then yes, I understand it
[12:31] {Threei}  but on the surface, it sounds to me like another one of those cases where willing buyer gets bruned, then goes ahead and sues a seller
[12:33] {nemo} mmmhhhh...US exchanges want tighter circuit breakers...now why would that be...down elevator anybody...
[12:34] {Threei}  as if those curcuit breakers help halt the decline
[12:35] {Threei}  hmmm... this selling feels like news-caused but I see none
[12:37] {nemo} triple top, just bounced at vwap, still technical
[12:42] {Threei}  TZA
[12:42] {Threei}  44 break
[12:43] {Threei}  after some consolidation
[12:43] {Threei}  with target .45
[12:45] {nemo} major spy support .62 area
[12:49] {Threei}  becomes inetersting as a bounce
[12:51] {Threei}  .65 break
[12:51] {Threei}  if stays abive .50
[12:53] {Threei}  invalidated
[13:01] {Threei} Long Setup:  TZA  .50 break
[13:01] {Threei}  if stays above .35
[13:01] {nemo} wow
[13:01] {Threei}  in on pullback
[13:02] {Threei}  *(US) TREASURY'S $35B 2-YEAR NOTE AUCTION DRAWS: 0.249%; BID-TO-COVER RATIO: 3.76 V 3.44 PRIOR AND 3.33 AVG OVER LAST 10 AUCTIONS- 19.45% allotted at the high - Indirect bidders take 36.75% of competitive bids, direct bidders take 12.16%, primary dealers take 51.1%.
[13:03] {Threei}  (IT) S&P lowers unsolicited long-term ratings of eleven Italian local and regional governments to A from A+- Standard & Poor's lowered its long-term issuer credit ratings on the 11 Italian local and regional governments (LRGs) listed below to 'A' from 'A+'. The outlooks on the long-term ratings on these LRGs remain negative.
[13:06] {Threei}  I need 25 cents coin, to go to a public phone and try to trade it for a phone call. I am sure I won't be successful today
[13:10] {dino}  out neog .30, +.76
[13:10] {Threei}  wtg
[13:10] {dino} ty
[13:11] {Threei}  if you completely ignored me today and followed nemo and dino, you made the best possible trade today
[13:11] {dino} everybody has those days
[13:12] {Threei}  today you two are a windshiled
[13:13] {dino} and you are the bug
[13:13] {Threei}  that's what I meant :)
[13:14] {nemo} and what's the last thing that goes through a bug's mind when it hits the windshield?
[13:14] {dino} hey, how about my friday +300 call for monday
[13:14] {Threei}  look at me comment yesterday eod:
[13:14] {Threei}  15:34] {Threei} oh, nd dino was correct about today
[13:14] {Threei}  [15:35] {Threei} good read on his part
[13:15] {dino} ahh, missed that mibbet booted around 2:00
[13:16] {dino} it will most likely stop, but markets are trading to gaps regularly
[13:17] {Threei}  yeah, yesterdfay was a connection hell
[13:17] {Threei}  just wanted you to know, the read was noticed and acknowldeged
[13:18] {dino} and today we leave gaps below, so....give or take within 7 days we most likely fill them
[13:18] {Threei}  under one condition
[13:18] {dino} yes?
[13:18] {Threei}  that the news flow doesn't throw any technical read under the bus
[13:18] {dino} well, the news is what is creating, then filling gaps
[13:19] {Threei}  they put 2T kindle in the market fire, we rally like in 1998
[13:19] {Threei}  they say no more bailouts, we drop like in 2001
[13:20] {Threei}  it's an unusual times, in that the news from EU is genuine news, not foreseen and discounted by the market
[13:20] {Threei}  market pretty much guesses at this point,
[13:20] {Threei}  and rallies in hope
[13:20] {Threei}  or denial
[13:20] {dino} agree
[13:21] {Threei}  kind of "they just won't let it all fall apart"
[13:21] {Threei}  but the reality is, it is possible
[13:21] {Threei}  simply because sovereign states may not be able to overcome the resistance from within
[13:23] {dino} my gut, the 2t is approved. but not willing to bet on it
[13:23] {Threei}  (US) Fed's Fisher: Benefits of operation twist do not outweigh its costs; doubtful current Fed policy will help hiring
[13:23] {Threei}  - Supportive of the Fed's decision to reinvest MBS proceeds
[13:23] {Threei}  - Claims there are limits on Fed policy until the fiscal policy has been fixed
[13:23] {Threei}  - Reminder: Fisher was among the dissenters at the FOMC meeting
[13:23] {Threei}  really?
[13:23] {Threei}  I dunno...
[13:24] {Threei}  I have hard time seeing how they can push it through
[13:24] {Threei}  unless they manage to mask it under some verey very fancy names long enough to full the oi poloi
[13:24] {Threei}  which these days is not very long
[13:24] {Threei}  couole days and everyone knows what's behind the fancy terms
[13:25] {Threei}  to full = to fool
[13:25] {dino} just a gut feel, lots of outside pressure on them
[13:25] {Threei}  but the elections are decided fro inside :)
[13:25] {Threei}  they are elected politians, not figureheads designated by EU
[13:27] {Threei}  if I were a head of sovereign state up to reelection, and my viters overwhelmkngly said no to bailout, wiould I sign up for it?
[13:27] {dino} no, you and i would not, but politicians will, imo
[13:28] {Threei}  why
[13:28] {Threei}  they have no sense of self-preservation?
[13:28] {Threei}  I think it's the only sense they have, lol
[13:28] {dino} it is not their money, thats why
[13:28] {Threei}  but they'll be thrown out come next election
[13:29] {Threei}  isn't it the only thing that matters to them?
[13:29] {dino} no they will say they saved the system
[13:29] {Threei}  well... good luck to them with that explanation... :)
[13:30] {Threei}  I think german voter will read it as:
[13:30] {Threei}  we saved another state with your money
[13:30] {Threei}  greek voter will read it as:
[13:30] {Threei}  we sold you in slavery
[13:30] {Threei}  and of course french voter will read it as "no pasrty and free sex today"
[13:31] {dino} but, if the system is "saved" for now, the year, then they get re-elected. that is their bet, imo
[13:31] {Threei}  yeah, I can see how they may count on that
[13:31] {Threei}  I just doubt it will work
[13:32] {dino} they believe in the "salvation thru inflation" theory
[13:32] {dino} right or wrong, that is the game being played
[13:33] {Threei}  TZA
[13:33] {Threei}  that's thrid rinse'
[13:41] {nemo} that spy iwm plunge held trendlines, think we might be going higher
[13:46] {dino} dmnd?
[13:46] {Threei}  no fresh news
[13:48] {dino} sm l .03
[13:48] {dino} stop -.29
[13:50] {dino} wtf rinsed.
[13:54] {Threei}  there is a good reason I hate these gap-up+slow-climb days
[13:55] {dino} me too usually, but today is ok
[13:58] {RonS} cause for dmnd pressure:  http://tinyurl.com/3wruxya
[14:03] {dino} thx ron.
[14:03] {dino} gap filled on it
[14:04] {dino} sm l .55
[14:08] {thomcbell} new highs all around - indexes
[14:08] {thomcbell} spy qqq iwm
[14:08] {thomcbell} iyt
[14:09] {nemo} this strength going to .50 makes me thing 121.20 is more than possible today
[14:10] {nemo} that would be the 50 SMA and the Monthly Pivot with Quarterly S2 around 121
[14:13] {RonS} eur, copper launching
[14:13] {dino} out dmnd .29 ave, +.74
[14:13] {dino} too soon
[14:15] {dino} ohhh mannnn (swiper voice)
[14:17] {RonS} copper reversed hard
[14:18] {RonS} testing lod
[14:20] {dino} ugh dmnd
[14:25] {nemo} so far .55 area holding
[14:50] {Threei}  ok... I must try this again
[14:50] {Threei} Short Setup: RIMM  23 break
[14:54] {Threei}  invalidated
[14:55] {Threei}  jf says hello
[14:55] {Threei}  and ends with:
[14:55] {Threei}  ILL BE BACK!!!
[14:55] {Threei}  p s tell nemo not to give up his day job!!!
[14:55] {nemo} hehehehehehe
[14:56] {Threei}  aggressive RIMM
[14:56] {Threei}  a.10 break
[14:58] {dino}   lol
[14:58] {nemo} spy should bounce by .85
[15:05] {nemo} iwm vwap .55, spy support .65
[15:06] {Threei}  covering half RIMM
[15:06] {Threei}  xcan you believe it... I won one
[15:06] {Threei}  1:2
[15:07] {Threei}  1/4 more out
[15:07] {dino} news?
[15:07] {dino} 07 red
[15:07] {Threei}  nope
[15:07] {Threei}  this takes the edge off a little
[15:08] {Threei}  still negative for the day but at least not as strong feeling of "can I get anything right today?"
[15:11] {dino} you'll be bnack tomorrow
[15:11] {dino} back
[15:14] {Threei}  1:3
[15:14] {Threei}  I am out
[15:14] {Threei}  that aggressive entry was the right idea
[15:26] {dino} calling it a day, thx all
[15:27] {Threei}  take care dino, great job today
[15:27] {dino} ;)
[15:28] {Threei}  wow
[15:28] {Threei}  a lot of selling pressure
[15:38] {Threei}  http://www.facebook.com/photo.php?v=139235692842048
[15:40] {Threei}  if you don't see it, video will be posted on trading log, together with SVM update
[15:41] {Threei}  this eod selloff takes plenty of lustre off this rally
[15:42] {Threei}  not all of it, but it has to be alarming for the bulls
[15:50] {Threei}  2.5 dollars SPY selling
[15:51] {Threei}  wow
[15:58] {Threei}  saved by the bell
[15:59] {Threei}  30 min more of this, and whole thing could have been erased, lol
[15:59] {Threei}  thank you all, have a good evening
[15:59] {Threei}  see you tomorrow
[16:00] {larisa} bye :)

Sep 22 2011

(Participation in the room in real time requires membership)

Perfect day for us, as often on down days - two small stops, a lot of nice wins. Handled the day in a very calm, disciplined fashion. Let's also do an update to our SPY video series:

Session Time: Thu Sep 22 00:00:00 2011

[08:39] {Threei}  wow
[08:39] {nemo} what wow?
[08:40] {nemo} btw...113.90 was semester S3
[08:40] {Threei}  well, I of course expected a gap down, but the size is wow
[09:01] {Threei}  oh btw
[09:01] {Threei}  as if all other troubles were niot enough,
[09:01] {Threei}  *(US) INITIAL JOBLESS CLAIMS: 423K V 420KE; CONTINUING CLAIMS: 3.727M V 3.722ME
[09:03] {RonS} gm...copper got crushed overnight -6+%
[09:03] {Threei}  ron :)
[09:03] {Threei}  well.. what didn't? :)
[09:04] {RonS} ese's optimism?
[09:05] {Threei}  http://www.facebook.com/RealityTrader/posts/263845006983515
[09:12] {dino} gaps below ndx 2252
[09:12] {dino} then dji 10716, ndx 2044, s/p 1120
[09:17] {larisa} gm :)
[09:17] {Threei}  larisa!
[09:17] {Threei}  you know my question, right?
[09:18] {nemo} slw short
[09:18] {larisa} no, and not sure i want to :)
[09:18] {Threei}  ok, I'll try to refrain
[09:18] {Threei}  ok, I tried, no can do
[09:18] {Threei}  may I finally say Panic and Crash?? :)
[09:19] {nemo} you can even shout "Fire" in a crowded theatre
[09:19] {larisa} :)
[09:22] {dino} the contrarian in me says look for bottom to buy
[09:22] {patience} good morning
[09:24] {dino} we were -4% as of yesterdays close from friday close, so another 3-5% should do it, imo
[09:24] {Threei}  patience :)
[09:25] {nemo} [08:11] {nemo} We're already trading below daily S2 on spy 112-112.50 next area of support below, then below that 111-111.50 and then below that we have the 8/9 low
[09:25] {nemo} [08:13] {nemo}  and to be really pessimistic, the next convergence zone below those is 108.50 to 109.20 with some price support in the 109.80 area
[09:25] {Threei}  I for one am not going to guess on the bottom and trade it stock by stock and chart by chart
[09:26] {Threei}  with skipping first minutes of course
[09:27] {dino} i am looking for the 1120 gap
[09:28] {Threei}  that's critical support level
[09:29] {Threei}  it we consolidated a bit above it and breakl it, look out below
[09:30] {Threei}  ok guys, I don't have to warn you to be doubly careful today
[09:30] {Threei}  you know about old anf bold pilots
[09:31] {Threei}  let's skip first minutes of extra volatility and spreads
[09:31] {Threei}  one thing though looks tradeable
[09:31] {Threei} Long Setup:  SVM  .60 b reak
[09:32] {ese} gm
[09:32] {Threei}  ese :)
[09:32] {Threei}  stop under .50
[09:32] {Threei}  target .80
[09:32] {Threei}  3 partials
[09:32] {Threei}  2 partails sorry
[09:32] {dino} 2252 filled
[09:34] {Threei}  we called FCX botomless chart" when it was about 41
[09:35] {ese} hmmmmmmmm nice job BEN!!!!!!!!! instilling that confidence in the market.....whatda guy
[09:35] {Threei}  Ben is an idiot, to be sure...
[09:35] {Threei}  but heck, what did we want him to do? pump even more money in this?
[09:36] {Threei}  (EU) There is a growing consensus among EU diplomats and officials that Greece will default while remaining inside the eurozone. - UK Telegraph
[09:38] {Threei}  and look where the next storm is brewing:
[09:38] {Threei}  (CH) There are growing fears that Chinese developers are losing access to funding and will be forced to slash prices - FT
[09:38] {Threei}  - In today's Asian session Greentown's Hong Kong-listed shares tumbled 16.2%, though the group said it was unaware of any investigation by the China Banking Regulatory Commission.
[09:38] {Threei}  - Other Hong Kong-listed developers that use trust financing include Agile Property, Evergrande, KWG and Shimao. All four groups fell by more than 10% in trading today.
[09:38] {Threei}  - Since June, all but the top state-owned developers have been shut out of international debt markets as bond prices have plunged, leaving China's nascent trust company sector as the lender of last resort.
[09:38] {Threei}  - In the past few weeks, property prices have started to dip in many cities, after a sharp decline in sales volumes.
[09:38] {Threei}  - In Shanghai, transaction volumes have slumped more than 50% y/y. As a result, developers have cut prices by up to 10% on nearly 150 residential projects in Shanghai, according to Chinese real estate site Soufun.
[09:38] {Threei}  I start feeling like a real prophet
[09:39] {dino} sina sm l .50
[09:41] {dino} stop sina -.31
[09:41] {Threei} Long Setup:  SLW  .50 break
[09:42] {Threei}  if stays above .35
[09:42] {Threei}  regulate size according to your risk tolerance
[09:42] {Threei}  and in this situation you can't be too careful
[09:44] {Threei}  no go
[09:44] {Threei}  why didn't we just sell it above .60
[09:45] {Threei} Long Setup:  RIMM  .80 break half lot
[09:45] {Threei}  if stays above .70
[09:48] {Threei}  invalidated
[09:48] {nemo} lvs
[09:48] {Threei}  but watching for another trigger here
[09:48] {Threei}  possible double bottom forming
[09:51] {Threei}  nope
[09:54] {Threei}  for such huge gap, martkret trades in a somewhat subdues fashion
[09:54] {Threei}  subdued
[09:56] {dino} picking up speed now
[09:58] {Threei}  yeah but on downside
[09:59] {Threei}  ok, this setup looks more normal:
[09:59] {Threei} Long Setup:  RIMM  .50 break half lot
[09:59] {dino} thats what i saw
[09:59] {Threei}  if stays above .40
[10:00] {dino} nvda l .40
[10:00] {Threei}  yes... slower while trying to hold, accelerates when breaks down - more downside in cards
[10:00] {dino} rht sm l .75
[10:00] {Threei}  *(US) JULY HOUSE PRICE INDEX M/M: 0.8% V 0.1%E
[10:01] {Threei}  *(EU) EURO ZONE SEPT ADVANCED CONSUMER CONFIDENCE: -18.9 V -18.0E
[10:01] {Threei}  *(US) AUG LEADING INDICATORS: 0.3% V 0.1%E
[10:02] {Threei}  charts finally look like some bounce might develop
[10:02] {Threei}  need SPY to break 113
[10:02] {dino} meli sm l ave .20
[10:03] {Threei}  and if RIMM breaks .65, it has easy road to about .80
[10:03] {Threei}  so, let's try to partial
[10:03] {Threei}  unless you are convinced scalper
[10:03] {dino} out rht .15, +.40
[10:03] {Threei}  wtg
[10:03] {dino} ty
[10:04] {patience} good for you dino, still haven't waded into the sharks
[10:04] {dino} ;)
[10:04] {dino} hmmm rht continued up
[10:05] {dino} out nvda .60, +.20
[10:06] {Threei}  1:1
[10:06] {Threei}  half out, stop to .49
[10:07] {Threei}  1:2
[10:08] {dino} nvda l .51
[10:08] {dino} sina smr l .25
[10:09] {dino} 07 all green
[10:09] {Threei}  SVM 1:1
[10:10] {Threei}  RIMM taregt hit
[10:10] {Threei}  out in full
[10:11] {Threei}  SVM 1:2
[10:12] {Threei}  so far so good
[10:13] {dino} out sina .40, +1.15
[10:13] {dino} out meli .34, +1.14
[10:13] {patience} ok, it is dino's day
[10:14] {dino} just lucky
[10:15] {Threei}  beautiful
[10:18] {dino} aaww sm l .75
[10:18] {Threei}  so far, calm and organized carries the day
[10:18] {dino} cyou sm l ave .40
[10:19] {dino} 07 all green
[10:23] {dino} out nvda .70, +.20
[10:23] {dino} .19
[10:25] {dino} stop aaww .46, -.29
[10:30] {Threei}  OPEC members said to not be concerned about recent oil price decline as it is forecasted to be temporary - financial press
[10:30] {Threei}  - Members claim recent decline can be attributed to speculation
[10:30] {Threei}  so, let me get this straight
[10:31] {Threei}  price rise is justified, drop is speculation
[10:31] {Threei}  got it
[10:35] {dino} aaww sm l ave .31
[10:35] {Threei}  (GR) Former Fed Chair Greenspan: Greece is a few weeks away from defaulting without a new tranche of aid
[10:35] {Threei}  look who just can't shut up
[10:38] {dino} nvda l .51
[10:38] {Threei}  something lit fire under RIMM
[10:39] {Threei}  no news that I see
[10:44] {thomcbell} laggard on bloomberg radio
[10:45] {Threei}  yeah, watching her on tv
[10:45] {dino} brk/b sm l .70
[10:45] {nemo} fdx
[10:48] {Threei} Long Setup:  LVS  .65 break
[10:48] {Threei}  invalidated
[10:50] {Threei}  aww
[10:50] {Threei}  shouldv'e just bought the pullback eh
[10:55] {Threei}  doesn't RIMM strike you as one of the least likely candidates to be green today?
[10:55] {dino}  ilmn too
[10:56] {RonS} csx the most curious to me
[11:01] {dino} rrc again
[11:02] {dino} out nvda .63, +.12
[11:04] {Threei} Short Setup: RIMM  .50 break
[11:04] {Threei}  invalidated
[11:04] {Threei}  but watching for double top
[11:04] {nemo} invalidations ain't taking long
[11:04] {Threei} Short Setup: RIMM  .60 break
[11:04] {Threei}  lol
[11:04] {nemo} rimm
[11:04] {Threei}  that's a good thing
[11:06] {nemo} if it invalidates likely go to .90 area
[11:07] {Threei}  it did
[11:08] {nemo} .79?
[11:09] {Threei}  short?
[11:09] {Threei}  no
[11:09] {Threei}  not yet
[11:09] {nemo} .80 was a big level
[11:09] {nemo} selling .79's
[11:10] {Threei}  let's it establish this level
[11:10] {Threei}  now it becomes a short trigger
[11:10] {nemo} rebid it
[11:10] {nemo} spy going long a bit here
[11:10] {Threei} Long Setup:  LVS  .15 break
[11:11] {Threei}  target .45
[11:11] {nemo} short rimm
[11:12] {nemo} out above .81
[11:12] {Threei}  wow
[11:12] {Threei}  that's tight stop
[11:12] {nemo} what, look at offer
[11:12] {nemo} 507 lots at .81
[11:13] {Threei}  LVS stop .04
[11:13] {thomcbell} rimm classic chinook todayh
[11:13] {nemo} Helicopter, or wind
[11:13] {nemo} ?
[11:13] {Threei}  salmon
[11:13] {thomcbell} salmon swimming against the current
[11:13] {Threei}  :)
[11:13] {nemo} oh
[11:13] {Threei}  1:1 RIMM
[11:14] {nemo} .80 was the level, and that big offer put a lid on it
[11:15] {nemo} see .64?
[11:16] {nemo} if it drops .64 I might add, especially if it rebids and drops it again
[11:17] {nemo} nowtf
[11:18] {nemo} stop still above .81
[11:18] {Threei}  LVS defends .05 fiercely
[11:18] {Threei}  good boy
[11:19] {Threei}  half out
[11:19] {Threei}  stop to .09
[11:23] {Threei}  out
[11:24] {RonS} nemo i am s rimm .65...target?
[11:25] {dino} nvda l .45
[11:25] {nemo} I'm just reading levels on rimm chart isn't telling me much
[11:25] {RonS} thanks
[11:27] {nemo} I"d say .40 a possible bounce but closest pivot support is .14
[11:28] {RonS} out rimm .35 +.30
[11:28] {Threei}  nice
[11:29] {Threei}  great trading today guys
[11:29] {Threei}  calm, collected
[11:29] {Threei}  disciplined
[11:29] {Threei}  some'd say comatose, but they are just jealous
[11:30] {Threei}  hmmm... on second thought yeah, comatose is our normal state
[11:30] {thomcbell} nice work rimm - 2x
[11:30] {dino} gj ron
[11:30] {RonS} new copper low
[11:30] {RonS} txs...lucky...
[11:30] {dino} praa sm l .24 pulp
[11:35] {nemo} spy higher low?
[11:36] {Threei}  very hard to tell
[11:36] {thomcbell} and on a doji on the 15 min chart - somewhat interesting
[11:37] {RonS} just a europe closing bounce...imo
[11:37] {Threei}  I dunno guys
[11:37] {nemo} OALA EHA ATOS
[11:37] {Threei}  my guts say, we are to see more selling and new lows
[11:38] {RonS} hawaiian?
[11:38] {nemo} acronymian
[11:38] {patience} want to see the vix hit 50
[11:39] {RonS} kinky
[11:39] {patience} ty
[11:46] {Threei} Long Setup:  RIMM  .50 break
[11:46] {Threei} Short Setup: RIMM  .40 break
[11:46] {nemo} scarecrow setup
[11:46] {Threei}  what did you call me?
[11:47] {nemo} you ever see the Wizard of OZ?
[11:47] {Threei}  he drops by sometimes, mostly when I am drunk
[11:48] {Threei}  stop is self-explanatory I believe
[11:48] {Threei}  target 1:3, three partials
[11:48] {nemo} in the movie they come across the scarecrow up on the pole and ask him which way to Oz.  He promptly crosses both so they point in opposite directions and says "That a way"
[11:49] {Threei}  must've been a trader
[11:53] {Threei}  1:1
[11:56] {Threei}  1:2
[11:56] {Threei}  stop .41 for the last part
[12:00] {Threei}  stop to .36
[12:03] {Threei}  test of the low is about to come
[12:03] {Threei}  IMO{ low will not hold
[12:06] {Threei}  there
[12:06] {dino} 10716 filled
[12:06] {Threei}  ugh, wanted to short LVS 46 break
[12:06] {dino} 10605 yearly low
[12:06] {Threei}  then thought it would be pushing it
[12:06] {dino} 1101 and 2029
[12:12] {nemo} tempted to go long spy/tna here
[12:15] {Threei}  (CH) Senator Brown (R-MA): China currency bill would treat currency manipulation as an unfair subsidy
[12:15] {Threei}  - Asserts that China currency manipulation is undermining US job creation.
[12:15] {Threei}  - Senator Schumer (D-NY): There is no question that China's trade practices are hurting the US economy.
[12:15] {nemo} nah...Bennie doesn't manipulate our currency
[12:20] {Threei}  ok, now that morning rush is over... welcome aboard, thomcbell
[12:21] {Threei}  RIMM, covered last piece
[12:21] {Threei}  close enough to target
[12:40] {dino}  l titn .76
[12:52] {dino} 07 green
[13:00] {dino} out brk/b .03, +.33
[13:00] {dino} out praa ave . 94, +.70
[13:01] {dino} out nvda .55, +.10
[13:14] {Threei}  great winning series
[13:14] {dino} out aaww .66, +.35
[13:14] {Threei}  (said he waking up)
[13:14] {RonS} lol, they had chubby checker on fast money last night talking about the twist...
[13:15] {RonS} the guy sounded very lucid...
[13:17] {RonS} good one:  http://tinyurl.com/3oq833o
[13:18] {Threei}  hehe
[13:26] {dino} stop titn -.27
[13:37] {Threei}  http://www.facebook.com/RealityTrader/posts/263948690306480
[13:45] {Threei}  TZA
[13:45] {Threei}  half lot long here
[13:46] {Threei}  got .55 and .60
[13:46] {Threei}  stop under .40
[13:47] {Threei} Short Setup: RIMM  21 break
[13:47] {Threei}  if stays under .10
[13:48] {Threei}  SPY new low
[13:49] {Threei}  no go TZA
[14:00] {Threei}  rinsed eh?
[14:03] {Threei}  RIMM 1:1
[14:05] {Threei}  how about that call for more lows
[14:08] {Threei}  as if anyone cares... back to coma
[14:18] {dino}   1120 filled
[14:22] {dino} rht sm l .85
[14:23] {Threei}  (EU) EU is said to be looking to accelerate the recapitalization of up to 16 banks
[14:23] {dino} out rht .35, +.50
[14:25] {dino} titn l .25
[14:29] {dino} ssys sm l .09 ave
[14:30] {Threei}  RIVO
[14:30] {Threei}  TIVO
[14:30] {Threei}  intergrates with facebook
[14:32] {Threei}  let's see full text
[14:32] {Threei}  (EU) EU is said to be looking to accelerate the recapitalization of up to 16 mid-tier banks - FT
[14:32] {Threei}  - European officials are said to be ready to speed up plans to recapitalize the 16 banks that came close to failing last summer's EU stress tests.
[14:32] {Threei}  - Seven are Spanish, two are from Germany, Greece and Portugal, and one each from Italy, Cyprus and Slovenia. The list includes Germanys HSH Nordbank and Banco Popolare of Italy.
[14:32] {Threei}  ***Reminder: On Sept 21st there was dealer chatter that the French govt might force some kind of recapitalization on its banking sector. Separate reports indicated France was expected to launch a state bank for small and medium-sized companies
[14:33] {Threei}  non-event IMO
[14:33] {nemo} to lend to whom?
[14:33] {Threei}  exsactly
[14:33] {nemo} WHAT!!!?
[14:33] {Threei}  they still treat it as liquidity crisis
[14:33] {Threei}  sorry
[14:33] {Threei}  eqzaktly
[14:33] {nemo} that spelling is a ahem...troutable offence
[14:33] {Threei}  right
[14:33] {Threei}  I am very very sorry
[14:37] {Threei}  doesn'tit amaze you?
[14:37] {Threei}  a few years intio crisis,
[14:37] {nemo} It's no worse than marriage
[14:37] {Threei}  and they still try to cure this and that, but not the major underlying reason?
[14:37] {nemo} political solutions not operational
[14:38] {Threei}  well, lunacy should end at some point... one would think
[14:38] {Threei}  it;s not a crisis of liquidity
[14:38] {nemo} Red pill or Blue pill
[14:38] {dino} titn stopped again
[14:38] {Threei}  it's not an economic cycle of overproduction
[14:38] {nemo} remember the chapter on sick-mindedness
[14:38] {Threei}  it's a credit bubble
[14:39] {nemo} and a debt problem
[14:39] {Threei}  severe credit cycle
[14:39] {nemo} yeah, there is no painless way out of this
[14:39] {Threei}  no
[14:39] {nemo} I also think we're reaching certain Malthusian resource limits
[14:39] {Threei}  but adding to debt as a cure?
[14:39] {nemo} only if curing is killing the patient
[14:41] {nemo} Funny...let's say the economy turns around, and actually gets strong.  Where do you think oil and gas prices will go?
[14:45] {Threei}  up
[14:45] {Threei}  why?
[14:47] {nemo} well, it can only go so far before it becomes a significant drag on economic activity and consumer spending.  Considering it's this high in the worst economic conditions since the Depression, there is relatively limited upside for economic activity
[14:47] {Threei}  right
[14:47] {Threei}  classic feedback-feedforward loop
[14:47] {nemo} And when you have an economy that has so much "discretionary" related economic activity, lots of that has to go by the wayside as more income is devoted to necessities
[14:48] {nemo} Frankly I think necessities will be redefined (I'm giving up boxers)
[14:48] {RonS} chnaging name to cj?
[14:48] {RonS} changing
[14:49] {nemo} commando j?
[14:49] {RonS} joe
[14:49] {Threei}  well, when such big share of population considers iphone necessity...
[14:49] {nemo} http://www.cbsnews.com/8301-504784_162-20110214-10391705.html
[14:49] {Threei}  sooner or latyer this had to crash no?
[14:49] {nemo} well...Iphone maybe, but untethered communications is replacing wireline
[14:50] {Threei}  as if communication were necessity...
[14:50] {Threei}  I am very fine not communicating with anyone
[14:50] {nemo} So, anyway...when all those discretionary items (seen a grocery store lately) are pared back, how many more jobs disappear?
[14:51] {Threei}  yes... big part economy has been built on slack
[14:51] {nemo} me too...I catch hell...you didn't return my message...no...you didn't answer your phone...no
[14:51] {Threei}  on fuzzy need
[14:51] {nemo} fuzzy need...no need
[14:51] {nemo} manufactured need
[14:51] {Threei}  production and distribution of things that were demanded and consumed only because pkenty of easy credit sloshed around
[14:52] {nemo} and marketing is effective to brain dead humans...of which they are legion
[14:52] {Threei}  credit bubble bursted, enormous share of products went out of demand, taking jobs with the,
[14:52] {Threei}  simple as that
[14:52] {Threei}  bursted?
[14:52] {Threei}  yikes
[14:52] {nemo}   let's see you need food, housing, clothing, sex, guns, and alcohol  that's it!!!
[14:53] {Threei}  actually... all you need is guns :)
[14:53] {RonS} don't forget the bullets...
[14:53] {nemo} true, you can get the rest with them
[14:53] {Threei}  the rest will be given to you by those without them
[14:53] {nemo} that's implied Ron
[14:54] {nemo} oh, discretionary maybe, but I would like Psyllocibin Mushrooms and Peyote also
[14:54] {Threei}  such sophistication
[14:55] {nemo} ?  names dude
[14:55] {Threei}  I am a savage, Hlenlivet will do
[14:55] {Threei}  Glenlivet
[14:57] {dino} beer
[14:57] {nemo} that falls under "alcohol"
[14:57] {thomcbell} ah glen livet - 12 yr please
[14:57] {Threei}  12 or 18
[14:57] {Threei}  either works
[14:57] {Threei}  glenfiddich will do just as well
[14:58] {nemo} I remember having a bottle of either 100 or 150 year old Drambuie
[14:58] {nemo} what a difference, smooth as silk
[14:58] {nemo} As a sensitive aside...nobody faint because it's coming from me
[14:58] {dino} i have some 60 year old seagrams, drambuie, and crown
[14:58] {nemo} Remember last year when I was taking care of my dying uncle?
[14:58] {thomcbell} 18 a tad too rich
[14:58] {thomcbell} in flavor and register
[14:58] {nemo} Well, his wife brought me some of his wines (he was a wine nut)
[14:59] {Threei}  well... yeah
[14:59] {nemo} So, during the power outage from the hurricane I was drinking them...nothing else to do
[14:59] {Threei}  crap
[14:59] {nemo} One of them was a 89 Gewurztraminer from a Maryland Vineyard
[14:59] {Threei}  and we sat here feeling sorry for you
[14:59] {dino} no genorater?
06[15:00] * Threei unsorries those two after-hurricane day
[15:00] {nemo} I'm sitting there when I realized...no generator...I was with him visiting the vineyard on the day he bought that wine...so, I'm saving the bottle...great guy...brilliant man
[15:02] {Threei}  reminds me... I need t put away one nice bottle for the day of the big earthquake
[15:02] {Threei}  which they say is coming to the town near me
[15:02] {nemo} December 21, 2012
[15:02] {nemo} I have inside information the Yellowstone Caldera is going to erupt
[15:03] {RonS} iceland more likely...
[15:03] {Threei}  that one will put an end to it
[15:03] {nemo} that's going to sink
[15:03] {nemo} Watch, just our luck, France will survive
[15:04] {Threei}  no market crashes anymore if yellowstone goes off
[15:04] {nemo} No, nothing anymore
[15:04] {Threei}  ok, retest of the low is coming
[15:04] {Threei}  really can't tell whether we make new lows on hold around these levels
[15:05] {Threei}  my personal incination is, new lows
[15:05] {nemo} What'll really be a trip is we have a solar storm like the one in 1859...society ends that day
[15:05] {Threei}  but to call a trade on it here... tough
[15:05] {Threei}  we have two small stops
[15:05] {Threei}  many nice wins
[15:05] {Threei}  I consider today a perfect management of the crash
[15:07] {nemo} i'm getting long signals
[15:08] {RonS} ...from bunny?
[15:08] {nemo} silly...the voices in my head
[15:08] {dino} rht sm l .80
[15:08] {nemo} Bunny is AWOL today
[15:08] {nemo} bitch
[15:08] {nemo} can't get rid of her when she wants tortilla chips though
[15:10] {nemo} whoa...looks like the voices were right
[15:11] {nemo} bumper sticker I saw once:  The voices in my head told me to stay home from work and clean my guns
[15:11] {dino} out rht .10, +.30
[15:11] {RonS} gj
[15:11] {dino} t6y
[15:11] {dino} ty
[15:15] {dino} we are down 900+ pts since tuesdays high
[15:17] {nemo} oh oh, you feel a drop coming?
[15:17] {Threei}  I do
[15:17] {Threei}  for what a week already? :)
[15:17] {nemo} I mean, into the close
[15:18] {Threei}  I do
[15:18] {dino} dk
[15:18] {Threei}  kind of: not strognly enough to play short, but enough to stay away from long
[15:19] {nemo} http://www.autoblog.com/2011/09/21/gms-onstar-now-spying-on-your-car-for-profit-even-after-you-uns/
[15:21] {dino} out ssys -.03
[15:33] {nemo} we bottomed at S2 weekly
[15:39] {Threei}  yeah but did we bottom?
[15:40] {nemo} no, little bounce tomorrow, lower into weekend, rally next week
[15:41] {nemo} IMO OALA EHO ATAS
[15:42] {Threei}  new low is comiong'
[15:42] {Threei}  believe it or not
[15:42] {thomcbell} rht a beast
[15:44] {Threei}  not today of course
[15:44] {Threei}  but the look of things is not really "selling is exhausted"
[15:47] {dino} gap down open tomorrow then finish up 100
[15:47] {dino} gap down takes us to 1101
[15:49] {dino} hmm 150 pt rise
[15:49] {patience} just bought gis, agu, pot, mos,eca, su, fts, gdx, hgu, slw in long term account
[15:49] {dino} news?
[15:49] {Threei}  nope
[15:49] {Threei}  just some short covering I presume
[15:49] {nemo} short covering..bird in hand two in bush
[15:50] {dino} patience, i like the thinking
[15:50] {patience} dividends and long term trends   :)
[15:59] {Threei}  thank you all, grat day
[15:59] {Threei}  great too
[15:59] {Threei}  have a good evening, see you tmorrow
[15:59] {larisa} bye :)
[16:00] {dino} gn

Sep 21 2011

(Participation in the room in real time requires membership)

Who said FOMC days are not good for trading? Beautiful day with just one stop, and quite a few nice trades, including couple beauties on TZA. Do read the log to track those trades; as far as charts are concerned let me post an update for the SVM swing trade. As you see from updated chart below, a trade triggered at 7.25 today, confirming double bottom. Volume looks decent as well. What concerns me though is general market climate - end of day selling hit SVM based on general market selloff. So, we are in a situation where on its own, SVM looks ready to go up in positive or neutral market; whether it's capable of holding in negative or crashing one, remains to be seen.

Session Time: Wed Sep 21 00:00:00 2011
[09:14] {dino} gm all
[09:14] {Threei}  dino :)
[09:14] {nemo} for you dino:  http://bostonherald.com/blogs/sports/rap_sheet/?p=14158&srvc=home&position=recent
[09:14] {nemo} piece of work that boy
[09:15] {ese} gm
[09:16] {Threei}  ese :)
[09:17] {Threei}  ese, meant to show you a stock you may want to monitor
[09:17] {Threei}  look at FITB daily
[09:18] {ese} theres a blast from the past
[09:18] {Threei}  thought you'd recognize it :)
[09:18] {Threei}  announced didvidend increase yesterday
[09:19] {ese} pretty solid base....and dividend to bot
[09:19] {ese} boot
[09:19] {Threei}  daiuly to me looks like 10.80 - 11 zone breakout for long play
[09:19] {ese} me as well
[09:19] {dino} that rex is a piece of work
[09:19] {Threei}  just make sure Europe doesn't collapse, lol
[09:20] {Threei}  that'll put a kibosh on financial stocks
[09:21] {ese} Greeks were talkin yesterday...finally something happening...German economists say double dip recession not likely in Germany.....things are lookin up
[09:21] {dino} i/m not as confident as you
[09:21] {ese} Greeks won't default looks like
[09:21] {Threei}  I really doubt that optimistic view
[09:22] {dino} gut says they must
[09:22] {nemo} define default
[09:22] {Threei}  they are trying to keep brave face
[09:22] {nemo} they'll just dress it up and call it something else...like leaving the euro
[09:22] {ese} it's "de" "fault" of the Greeks
[09:22] {Threei}  math just doesn't work, ese
[09:23] {Threei}  Greece can't repay debt, no matter what
[09:23] {Threei}  and look at Italy CDS spread, to see how much realism is under that optimism
[09:23] {ese} anyway.....articles in "Marketwatch.com" yesterday....
[09:24] {Threei}  http://www.cnbc.com/id/38451750
[09:25] {ese} link not working
[09:26] {Threei}  works for me...
[09:27] {Threei}  anyway, Italy 5-yr is at 513
[09:27] {dino} ok now that we have broken ese' optimism, back to work
[09:27] {Threei}  this is borderline "point of no return" IMO
[09:27] {ese} lol
[09:27] {Threei}  FCX is on watch as short candidate
[09:28] {ese} link working now
[09:28] {Threei}  remember the opening volatility
[09:28] {larisa} gm :)
[09:28] {Threei}  larisa :)
[09:29] {Threei}  from the look of things, morning spike can take it into .40 - .50 territory where it's bound to be a short
[09:29] {Threei}  if it breaks down instead, let's wait
[09:30] {Threei}  total breakdown
[09:31] {Threei}  becomes bounce candidate
[09:31] {Threei}  half lot
[09:31] {Threei} Long Setup:  FCX  .30 break
[09:31] {Threei}  stop under .15
[09:32] {Threei}  in
[09:32] {nemo} you can have it
[09:32] {Threei}  ty
[09:32] {Threei}  not ready yet, out
[09:33] {patience} ty fcx vad, haven't even had first cup of coffee yet, amazing
[09:33] {ese} L orcl .50
[09:34] {Threei}  .15 break second try
[09:34] {ese} sm
[09:34] {Threei}  if holding 37
[09:34] {Threei}  half lot!
[09:34] {Threei}  target .60
[09:34] {Threei}  half out
[09:34] {Threei}  stop to .10
[09:36] {ese} L orcl avg .42
[09:37] {Threei}  stop to .25
[09:38] {Threei}  out second half
[09:38] {nemo} you see that buy on the offer go buy at .35?
[09:38] {Threei}  +.23 and .10
[09:38] {nemo} 1275 lots
[09:39] {ese} stopped orcl .21-.22
[09:39] {ese} knew i shoulda waited
[09:39] {Threei}  bought into sharp spike, ese...
[09:40] {ese} ya
[09:40] {Threei}  ORCL is a very heavy stock, not really a momo that can easily continue after spikes
[09:41] {ese} not something i do normally ......thought taht with the earnings report it had 31 in it
[09:41] {Threei}  (US) Preview: Aug Existing Home Sales due out at 10:00ET
[09:41] {Threei}  **Consensus expectation: 4.75Me v 4.67M prior
[09:41] {Threei}  it very well may but not in one gasp
[09:41] {ese} agreed
[09:43] {Threei} Short Setup: FCX  .20 break if stays under .30
[09:44] {Threei}  half out
[09:45] {ese} L orcl .25
[09:45] {Threei}  should lose 37 now
[09:45] {Threei}  stop to .25 for the balance
[09:47] {Threei}  ok FCX
[09:47] {Threei}  let's do it
[09:47] {Threei}  'cause you know... bees do it
[09:49] {Threei}  good boy
[09:50] {Threei}  1/4 more out
[09:50] {Threei}  stop to .21
[09:52] {Threei}  grrrrr
[09:52] {Threei}  targeted RIMM short on .25 break
[09:52] {Threei}  and missed it because of FCX bresakdown at the same moment
[09:54] {Threei}  let's trail last piece to .16
[09:55] {ese} out orcl 1/2  .35 +.10
[09:55] {ese} balance to .26
[09:56] {patience} in slw
[09:58] {Threei}  numbers are coming
[09:59] {dino} titn sm l .00
[09:59] {ese} orcl stopped balance .26
[10:00] {dino} cyou sm l .90
[10:00] {ese} hmmm shoulda rang the register at .40 would have been a nice day
[10:00] {Threei}  decent number
[10:00] {dino} gpc sm l .11
[10:00] {Threei}  *(US) AUG EXISTING HOME SALES: 5.03M V 4.75ME
[10:01] {Threei}  closed FCX
[10:02] {dino} ssys sm l .00 thinny
[10:09] {Threei}  watching LVS
[10:10] {ese} L orcl .23
[10:11] {Threei}  FCX, did you have to shake out last portion before continuing down?
[10:11] {nemo} it traded to vwap and dropped
[10:11] {Threei}  I overtightened stop?
[10:12] {nemo} guess I should have opened my mouth, I saw VWAP up there, and that's a magnet for price action
[10:12] {ese} out 1/2 orcl .30 +.07
[10:12] {nemo} couldn't figure out how to work it into an insult
[10:12] {Threei}  ahhh
[10:12] {ese} balance stopped .24
[10:13] {Threei} Long Setup:  FCX  .50 break
[10:13] {Threei}  if stays above .40
[10:13] {Threei}  oops
[10:13] {Threei}  sorry, confused symbols
[10:13] {Threei}  LVS
[10:13] {dino} fcx, cat, joyg, ilmn, major blood two days
[10:13] {Threei}  invalidated anyway
[10:14] {Threei}  bond market prices Greece default probability at 96%
[10:15] {dino} ilmn sm l .50
[10:16] {Threei} Long Setup:  LVS  .50 break if holding .40
[10:16] {Threei}  FCX, what a bottmoless pit
[10:16] {Threei}  LVS, target 1:3
[10:16] {Threei}  standard procedure
[10:16] {ese} specially fcx dino
[10:16] {ese} with a gap dn no less
[10:17] {ese} sorry 2 gaps dn
[10:17] {ese} have that on my screen
[10:17] {ese} got a plan for those
[10:18] {Threei}  1:1
[10:18] {dino} understand
[10:19] {ese} lol
[10:22] {Threei}  probably time for FCX bounce
[10:24] {Threei}  got away... thought of .50 break but happened a bit too fast
[10:24] {Threei}  let's see if oulls back for entry
[10:24] {Threei}  OK
[10:24] {Threei}  drop under .50,
[10:24] {Threei}  holding above .40,
[10:24] {Threei}  .50 recross
[10:24] {Threei}  that would be my long setup from here
[10:26] {Threei}  here we go
[10:27] {Threei}  invalidated
[10:30] {dino} ssys stop -.33
[10:30] {dino} ilmn stop -.33
[10:31] {Threei}  oil inventories...
[10:31] {Threei}  *DOE CRUDE: -7.33M V -1ME; GASOLINE: +3.3M V +1ME; DISTILLATE: -875K V +1ME; UTILIZATION: 88.3% V 86.6%E
[10:31] {Threei}  USO through the roof
[10:31] {Threei}  lunacy
[10:32] {dino} joyg -8 in two days
[10:32] {nemo} bfd crude down, OPEC cuts forcast last week, refineries have switched over to producing heating oil and gas way up...too frickin' funny
[10:33] {Threei}  no kidding
[10:33] {Threei}  reaction to these weekly numbers is one of the most meaningless I see in the markets
[10:33] {nemo} have a feeling it's a Wile E. Coyote moment and will retrace
[10:33] {nemo} not to those making money on it
[10:33] {Threei}  or least meaningful?
[10:36] {Threei}  FCX doesn't follow market down anymore
[10:37] {Threei}  not ready to jump in, but watching carefully
[10:37] {nemo} tired from dropping for four days...cant keep up
[10:37] {patience} in long fcx
[10:37] {Threei}  hehe
[10:37] {Threei}  why rush
[10:37] {Threei}  no clear signal yet
[10:37] {patience} no kidding
[10:39] {dino} joyg sm l .90
[10:40] {ese} L orcl .20
[10:44] {ese} out 1/2 orcl .40 +.20
[10:45] {Threei}  missed another LVS setup
[10:45] {dino} gj
[10:46] {Threei}  .30 break.. see tose two dojis?
[10:46] {ese} out balance .49 +.29
[10:46] {ese} orcl
[10:46] {ese} tks dino
[10:46] {ese} that was a crap load of shs
[10:47] {ese} haven't done that for a bit
[10:48] {nemo} rrc
[10:48] {dino} t/o chatter
[10:49] {Threei}  ok, let's try to get LVS this time
[10:51] {ese} am outta here....have a great rest of the day.....
[10:51] {Threei}  one more leg down, consolidation between .10 and .20 and cross
[10:51] {patience} bye ese
[10:51] {Threei}  take care ese, gj
[10:51] {ese} cya vad patience
[10:51] {dino} cya ese
[10:51] {ese} dino
[10:51] {nemo} spy if doesn't hold .45 going to .20 area
[10:52] {nemo} this also spy premarket low
[10:53] {dino} ndx filled open gap
[10:56] {nemo} pre market low for IWM might get some tail wagging the dog here
[10:57] {Threei} Long Setup:  LVS  .20 break if holding .10
[10:58] {patience} ok, who thinks the fed will open up their discount window wide today and lend money to banks at very favourable terms?
[10:59] {Threei}  1:1
[10:59] {nemo} how much more favorable can it get
[11:00] {dino} window is open
[11:00] {Threei}  1:2
[11:00] {Threei}  1:3
[11:00] {dino} gj
[11:00] {Threei}  ty
[11:00] {Threei}  we had what, 1 stop today?
[11:00] {patience} it is, but narrow elegibility gets loosened?
[11:01] {Threei}  the rest worked like charm?
[11:02] {dino} we are already flooding the euro block w/$. but yes i think twist happens, going loner term to lower long term rates
[11:08] {Threei}  midday update:
[11:08] {Threei}  The FOMC rate decision will arrive mid afternoon and investors are debating the chances that Helicopter Ben will greenlight Operation Twist. In Europe, equity markets are at their lows as traders worry about the banking system. Earlier this morning, Greece Finance Minister Venizelos warned that there is a danger that reform program might fail and Lloyd's of London said it had decided to pull peripheral euro bank deposits.
[11:09] {Threei}  Note that the August existing home sales hit their highest rate since early 2009, however analysts agree that the slightly better numbers were driven by a sudden jump in foreclosure and resale activity. Treasury markets are trending higher as money comes out of stocks and the US 10-year yield has slipped back toward 1.9%.
[11:09] {Threei}  I dunno where ese finds that optimism...
[11:10] {dino} nor i
[11:10] {Threei}  Overall the greenback remained range bound ahead of the FOMC decision later today. Dealers suspect the dollar could weaken further if the Fed announces any new QE measures. EUR/USD recovered from session lows during the New York morning aided by speculation that the French government might take measures to restore confidence in its banking sector coupled with ECB widening the range of debt instruments accepted as collateral.
[11:11] {Threei}  Dealers did note that the ECB action on collateral actually lowered its quality control. The market still awaiting Greece to outline its austerity measures negotiated with the Troika in recent days
[11:17] {Threei}  wow LVS
[11:17] {nemo} hpq
[11:17] {Threei}  how come I never forget last couple hundred shares
[11:18] {RonS} may be leo out at hpq
[11:19] {RonS} Bloomberg confirms boards wants CEO out $HPQ
[11:19] {Threei}  Hewlett-Packard Co Board evaluating firing CEO Apotheker in favor of Whitman as successor - financial press
[11:20] {Threei}  and this sends a stock up a dollar?
[11:20] {Threei}  and half
[11:29] {Threei}  SVM
[11:30] {Threei}  who saw a chart for a swing trade a few days ago, see it breaking out
[11:30] {Threei}  I posted quick update on facebook, will add after close
[11:30] {dino} ilmn sm l .00 wide
[11:38] {Threei}  White House said to have informed Congress of planned $5.3B upgrade of Taiwan's existing fleet of F-16 fighter jets
[11:38] {Threei}  - Northrop Grumman and Raytheon are said to be expected to compete to build new radar systems for Taiwan's F-16s.
[11:38] {Threei}  sigh
[11:47] {RonS} ilmn brightly burning...
[11:47] {nemo} wow....
[11:50] {dino} kicked me in the azz
[11:56] {nemo} see the link I posted for you this morning Dino?
[11:57] {dino} on rex? yes
[11:57] {nemo} I like the guy
[11:57] {dino} me too, he fits ny market
[11:58] {nemo} cracks me up, foot fetish, cries watching chick flicks...
[11:58] {nemo} He'd be alot of fun to drink with
[11:58] {dino} indeed, lol
[12:08] {patience} out fcx, nice run  +.71
[12:09] {Threei}  gj
[12:09] {patience} connection went down during trade, i hate that
[12:09] {Threei}  look at LVS chart and see where we got it long
[12:09] {Threei}  pretty much near the low of the day
[12:11] {dino} market stuck in range
[12:15] {dino} wow ilmn what a rinse job
[12:22] {dino} sm l ilmn .00, last try
[12:27] {Threei}  Moody BAC downgrade
[12:27] {Threei}  kills the market
[12:29] {Threei}  nice jub Buffet
[12:29] {Threei}  job
[12:30] {RonS} qotd:  why should i care about a buffet tax. i never eat at one.
[12:31] {Threei}  lol
[12:31] {dino} lol
[12:36] {dino} bac preferred getting hit
[12:39] {nemo} I find the coincidence between the downgrade and BennieB intriguing
[12:40] {Threei}  think setting up the scene for Fed action?
[12:40] {nemo} whack the longs, come in and buy
[12:42] {patience} out of anv.to    i forgot how wingy some of these stocks can be to trade....too much work    +.62
[12:48] {nemo} hpq again
[12:48] {Threei}  reconsiders spin-off of PC business
[12:52] {patience} sold everything but POT
[12:52] {patience} excellent day...will sit and wait
[12:58] {Threei}  Moody's cuts WFC
[12:58] {Threei}  and C
[12:58] {Threei}  they are on the roll today
[12:59] {Threei}  a roll?
[12:59] {Threei}  just roll?
[12:59] {Threei}  why do you english speakers need those a and the, no idea
[13:00] {RonS} freakin a, eh?
[13:00] {Threei}  the freakin a
[13:02] {dino} ahole, lol
[13:05] {dino} giddy-up
[13:19] {dino} joyg to .84
[13:24] {dino} out .96, +1.06
[13:25] {RonS} gj
[13:25] {patience} very nice
[13:26] {Threei}  great one
[13:26] {dino} ty took hours
[13:26] {patience} very patient  :)
[13:27] {dino} ;)
[13:28] {Threei}  Coolest searching device ever? Your toe! Always able to, somehow, find furniture even when it is pitch black
[13:29] {dino} yeah, been there
[13:32] {Threei}  so, 74% of ecinomists expect operation Twist, 61 says it won't work
[13:33] {Threei}  the rest 39 are clueless I guess
[13:54] {Threei}  total stall
[13:55] {patience} what time do we hear anything?
[13:56] {dino}  2:15
[13:56] {patience} ty
[14:00] {nemo} regn
[14:01] {dino} regn spike
[14:02] {nemo} dino...look above
[14:02] {dino} ilmn out .30, +.30
[14:02] {Threei}  halt
[14:02] {nemo} that sucks
[14:02] {patience} nice day for you dino
[14:02] {dino} average, had few stops earlier
[14:05] {nemo} indexes look like they're setting up for screaming longs
[14:07] {Threei}  here is summary for expectations:
[14:07] {Threei}  http://caracommunity.com/content/bill-caras-blog-sep-21-2011#comment-95641
[14:07] {Threei}  too long to paste it all here
[14:07] {dino} va drops avastin
[14:08] {Threei}  passive twist, active twist... as if all these monetary tweaks really can change the ways of economy
[14:08] {Threei}  more they tweak, worse it gets
[14:08] {Threei}  get the ^%#* out of the way
[14:09] {dino} john galt i presume
[14:09] {Threei}  :)
[14:10] {nemo} it's between a rock and a hard place...they get out of the way, and it's gonna' get rocky sooner, they don't get out of the way, it get's rocky a little later
[14:10] {Threei}  but there is a difference in the degree of rockiness
[14:10] {Threei}  the later it comes the rockier it gets
[14:10] {nemo} I don't think so...I think sooner or lated serious civil unrest
[14:11] {dino} they stretch it out to save themselves, not do what is needed
[14:11] {nemo} I don't think it can be avoided
[14:11] {patience} bought td bank
[14:13] {RonS} regn 7 mil sh short...lit up...
[14:13] {dino} right now they are fighting over who pays for lunch
[14:17] {Threei}  fashinably late?
[14:17] {Threei}  +o
[14:20] {RonS} who does the clam think he is?...O?
[14:20] {Threei}  lol
[14:20] {RonS} soory...0
[14:22] {Threei}  potato, potatoe
[14:23] {dino} out
[14:23] {dino} 07 green
[14:23] {Threei}  ok
[14:23] {Threei}  here it comes
[14:24] {dino} now red
[14:24] {RonS} twisted sister
[14:25] {Threei}  active twist
[14:25] {Threei}  market says eeeeck
[14:25] {RonS} chubby checker to head operation...
[14:25] {dino} what'd he do?
[14:26] {Threei}  Fed to buy $400B in long term treasuries (6-30 year range) by end of June 2012
[14:28] {RonS} copper tanked
[14:28] {dino} pru sm l .79
[14:29] {RonS} wow, three dissenters
[14:30] {dino} re-liquify
[14:44] {dino} meli sm l .10
[14:49] {Threei} Long Setup:  TZA  .35 break
[14:49] {Threei}  half lot
[14:49] {Threei}  invalidated
[14:50] {Threei}  .20 break
[14:53] {nemo} spy likely going for .20, look for tza there
[14:55] {Threei}  half out
[14:55] {Threei}  stop to .15
[14:56] {Threei}  out in full
[14:56] {Threei}  +.40
[14:59] {patience} nice
[15:00] {dino} gj
[15:00] {Threei}  ty
[15:05] {dino} out meli .15, +1.05
[15:16] {Threei}  nice!
[15:17] {dino} ty
[15:17] {patience} very nice
[15:21] {dino} ty
[15:29] {Threei}  so... last plunge is coming?
[15:29] {patience} i'm lost here, can't tell
[15:29] {Threei}  half lot long TZA .90
[15:29] {Threei}  if stays abovce .75
[15:30] {dino} gut says up
[15:30] {Threei}  valid still
[15:31] {Threei}  in
[15:32] {Threei}  half out
[15:32] {Threei}  stop to .85
[15:34] {Threei}  I don't remember having such a nice day on FOMC date
[15:34] {patience} i agree
[15:34] {dino} lod
[15:34] {Threei}  boom TZA
[15:34] {dino} whippy
[15:35] {dino} 11246 gap filled
[15:35] {Threei}  out +.60
[15:36] {dino} nice
[15:38] {dino} hmmm so far you are right, plunge
[15:39] {Threei}  panic
[15:39] {Threei}  crash
06[15:39] * Threei slants at larisa
[15:40] {Threei}  -(IT) Italy confirms FY11 GDP target cut to 0.7% from 1.1%
[15:55] {Threei}  what an ugly end
[15:56] {patience} should be interesting overnight trading
[15:56] {Threei}  ok guys, I believe we handled today beautifully
[15:56] {patience} ty vad
[15:56] {Threei}  have a great evening, see you tomorrow
[15:57] {dino} cya
[15:57] {larisa} bye :)