Nemo's Findings week of 3/3/2013

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

Has the long awaited/anticipated pullback begun?

Well, the week started out in fine fashion creating what looks like a lower high on Monday.

Tuesday started out promising in a The-Grinch-Who-Stole-Christmas sorta' way, but the everfaithful Monthly Pivot did the Cindy-Lou-Who thing and stopped the pullback in it's tracks.  Notice:  I had mentioned how the Semesterly R1 in IWM and SPY had been providing support since January 25th or so.  Well, IWM violated it for less than 15 minutes and SPY spent about half a day under it.  Might be worth looking IWM SPY and FAS formation here.  Late in the day I shot off my mouth saying this chart formation looks very bullish for the 'morrow. (mmmmhhh, just heard the Canterbury Tales in my head).  Indexes had bounced basically at strong support, and if you look closely you will see a red "23.6" to the left of IWM and SPY on that day near the bottom of price action for IWM and SPY.  THAT, is the fib retracement from the November 2012 low in both instruments.  Confluence...funny how that works.

 

  Oops...I screwed up on the chart copy, so this will be for two days.  As you can see, the 27th proceeded as I thought bouncing off the support from the prior day.  Now what adjective will we use that I absolutely hate in financial headlines:  "rocketing"  "surging"  higher.  As you can see on the 28th SPY had broken the Weekly pivot, with IWM and FAS making the weekly pivot  and bonds found a floor at the Monthly pivot.

 

 

We had a quick sell-off in the morning with FAS IWM and SPY all bottoming basically at levels in different time frames, and frankly, this is something I look for:  an inflection level for each instrument doesn't have to be one defined by the same time frame, but often you will see inflection when the instruments all arrive at different multi-time frame levels at the same time.  In this case, the FAS reached QR2, which coincided with the breakout of the formation from the 26th.  IWM tested support of the breakout from the same day, whereas SPY only approximated the breakout level. 

 Of course, this raises the logical, but irrelevant question: 

"Well, how do you know which was the cause and which was coincidence?"  

Simple answer:  "I don't."   

But...the more levels that coincide for different trading styles the higher probability of something happening.  Then, it's up to your skill at understanding price action at that level.  Look, I had ADD/ADHD/multiple personality-schizophrenic psychosis long before they had a diagnosis.  This method allows me to focus on specific levels when price gets there without having to maintain concentration continuously.  When you have as much bouncing around in your head during the day as I do, that's a good thing.  

On a related note regarding distractions to concentration: had to corral bunny this week, she was attacking my father in a territorial dispute. Actually rather comic watching an 80 year old man with an oxygen bottle in his hand, balancing on one leg while attempting to shake the other leg to dislodge an attacking rabbit from his pants.  Amazingly vicious for such a cute little thing. 

Brings back memories:  http://www.youtube.com/watch?v=QM9Bynjh2Lk

Who'da thunk?

 

Back to the chart:  So, Friday basically left us treading water in the range we entered on Thursday.  Notice how TLT oscillated around the 50 day SMA.

So, we had pretty positive price action this week for all intents-and-purposes.  The Italians couldn't tank it.  Walmart's crappy results couldn't tank it.  The sequester, which is a thimble full of water in a septic tank full, couldn't tank it.  We'll see what Monday brings, but my bias is long going for new highs in the market this week.  Buy some lubricant for your local bear.

Anyway, the week that is...  

  

Market Week Wrap-up

TradeTheNews.com Weekly Market Update: Markets Weather Political Follies in Washington and Rome


- Trading in global markets was highly volatile this week. The indecisive outcome of the Italian parliamentary elections has left Italy in limbo without a government, threatening a full-blown return of the euro crisis just as it seemed that the European Union had gotten the situation under control. Later in the week, a round of dire European February manufacturing PMI data suggested that the economies of the EU member states were stabilizing at a very low level, or in the case of Italy were actually getting worse. In the US, much of data was quite good: the US February ISM manufacturing index rose to 54.2, its highest level since June 2011, beating expectations, and the new orders sub-index was near two-year highs. The second reading of US Q4 GDP was lower than expected but came in hair better than the first reading, rising to +0.1% from the initial -0.1%. In China, there were reports that the government would institute a package of measures to help curb the overheating home prices. Note that the new government will be seated next week. There was much hoopla late in the week about the DJIA climbing to within striking distance of all-time highs. For the week, the DJIA gained 0.6%, the S&P 500 added 0.2% and the Nasdaq rose 0.3%.

- Anxieties about the Italian parliamentary elections were more than borne out by the results this week. Initial exit polls on Monday suggested that Bersani's center-left coalition had won a decisive victory, however the messy reality showed Bersani had not achieved a margin of victory that would let him form a government without the support of either Berlusconi's center-right coalition or Beppe Grillo's Five Star Movement. Both Berlusconi and Grillo have repeatedly refused to join in the formation of a government, although Grilllo seemed to hint he might support a left-wing government once it was in office. By the end of the week, Berlusconi was calling for a new election. Data released this week emphasized Italy's desperate need for a stable government as the January unemployment rate rose to 11.7%, the highest level since the series began in 1992, and 2012 final GDP came in at -2.4%.

- President Obama and the Congressional leaders failed to replace the sequester cuts with a more reasonable package of budget reductions. There was endless political sniping by Speaker Boehner, Senate Majority Leader Reid and Obama, but in the end nothing was accomplished. The current continuing resolution that provides the government with funding expires on March 27, although there have been reports that talks are happening between the two sides to extend this date until September in order to provide space for negotiations to replace the sequester. If no deal is struck, there is the possibility of a government shutdown and a bruising political battle. On Friday, President Obama conceded that in may take weeks or months to reach a deal to replace the sequester cuts with more targeted measures.

- In other Washington news, the Senate Finance Committee backed President Obama's nominee to head the Treasury, Jack Lew, overlooking the perks he got from previous employers and clearing the way for a full-Senate confirmation vote. Fed Chairman Bernanke provided semi-annual testimony before the Congress. He reiterated his standing opinions, offering little new. He defended QE, saying the benefits of asset purchases clearly outweigh the costs and urged the Congress to replace the sequester cuts with more nuanced and gradual spending reductions.

- Despite the DJIA's run toward fresh all-time highs, Treasury yields have remained near the lowest levels of the year. Investors eager to start the "great rotation" in earnest continue to be cautioned by safe haven flows prompted by the still uncertain situation in Europe and Bernanke's insistence that rates are not going up anytime soon.



- The earnings focus was on retailers this week. Shares of JC Penny fell about 20% following its disastrous Q4 report, which one analyst called the worst quarterly results by a retailer in history. The bleeding continues apace, with comps down nearly 32% in the quarter. CEO Johnson admitted that mistakes had been made and said a new promotional strategy would be adopted. Target's results were weak, with sales comps barely above flat in its Q4 and the outlook for full-year comp flat with last year. Gap, Limited Brands, and TJX had decent Q4s, but like other retailers their guidance for the current quarter and the FY was weak.

- Ahead of Apple's annual shareholder meeting this week, there was plenty of speculation about what the company might do with its cash hoard. Greenlight Capital's David Einhorn has been pushing the company to return the cash to shareholders, and at the meeting Apple CEO Cook acknowledged discontent among holders and promised that the company was working on ways to reward shareholders, although he offered no concrete measures.

- The euro was hammered by the events in Italy, and on Friday EUR/USD momentarily nosed below its January lows. Recall that the pair's January trading range has marked either the high or the low for remainder of the year in ten out of the 13 years since the euro's launch in 1999. The January 2013 range is 1.3711 to 1.2994. The optimistic early Italian exit polls on Monday had sent EUR/USD above 1.33, but the pair bounced around between 1.3030 and 1.3160 once the political trench warfare began in Rome. Friday's awful European PMI data sent EUR/USD as low as 1.2970, although it managed to close out the week above 1.30.

- Cable plumbed 2.5-year lows through the end of the week on fears that the UK really was headed for a triple-dip recession. The PMI data suggest that the UK economic contraction is worsening rather than getting better as the Cameron government holds the course on fiscal consolidation programs. GBP/USD fell below 1.52 early on in the week and only found support right at 1.50 after the PMI numbers on Friday.

- USD/JPY headed even higher on Monday after reports suggested that PM Abe had settled on Haruhiko Kuroda as the new BoJ chief. Kuroda is said to support Abe's policy of inflation targeting and monetary easing. However the risk-on tone that returned after the initial Italian election results came in helped strengthened the JPY on Monday and sent USD/JPY to its lowest levels since late January, just above 90. The pair floated back above 93.50 by week's end.


TradeTheNews

March 01 2013

Tiresome end to the week, with good morning, very boring and negative afternoon, ending negatively as well. Slow creep-up, again.

Session Time: Fri Mar 01 00:00:00 2013
[09:07] {jdetente} Good morning
01[09:07] {Threei}  jd :)
[09:13] {dino} gm
01[09:13] {Threei}  dino :)
[09:14] {cipher} gm
01[09:15] {Threei}  cipher :)
[09:16] {dino} db ouch
[09:18] {Will49} good morning
01[09:18] {Threei}  will :)
01[09:19] {Threei}  two days ago, exchange at the close:
01[09:19] {Threei}  15:47] {Threei} ah, who knows
01[09:19] {Threei}  [15:47] {Threei} Bunga bunga says overnight he wants to go back to polls, we open -300
01[09:19] {Threei}  [15:47] {nemo} nah
01[09:19] {Threei}  2 min ago:
01[09:19] {Threei}  (IT) Italy's Berlusconi: Need to change electoral law and go to vote- financial press
[09:19] {scottie} good morning
01[09:19] {Threei}  scottie :)
[09:22] {Will49} Isn't berusconi just the greatest role model we've ever seen?
[09:23] {Will49} the leader of th clowns
01[09:25] {Threei}  pretty much
01[09:26] {Threei}  many in Italy say though, country being largely ungovernable for decades got some kind of governability under him
[09:29] {dptl} gm
01[09:30] {Threei}  dp :)
[09:33] {cipher} adp l .85
01[09:34] {Threei} Short Setup: JCP  .60 break hl
01[09:35] {Threei}  If holds  .70
[09:35] {cipher} IDCC L .80
01[09:39] {Threei}  1:1
01[09:39] {Threei}  1:2, out
[09:40] {Will49} tks Vad...nice beginning
01[09:40] {Threei}  long hesitation but when it moved, it moved fast
[09:40] {jdetente} thx Vad
01[09:40] {Threei}  yw
01[09:41] {Threei}  (EU) EC said to feel that Ireland should receive an extension on its Troika loan; links between sovereigns and banks still needs to be broken
01[09:41] {Threei}  (US) Governor of Michigan expected to declare a state of fiscal emergency for Detroit (would be largest municipal bankruptcy in US history)- finanical press- Reminder: on 2/28 the Mayor of Detroit commented that the Michigan Governor was to announce a state takeover of Detroit on Friday, March 1
[09:42] {dino} bdbd sm l .50
[09:42] {jdetente} I worked in downtown Detroit for a few months last year...depressing place.
01[09:42] {Threei}  recovery goes nicely I see
[09:43] {cipher} EVEP L .75
[09:44] {dino} aciw sm l .50
[09:44] {cipher} out evep .20 +.45
[09:45] {dino} gj
[09:46] {cipher} ty
01[09:47] {Threei} Short Setup: LVS  51 break hl
01[09:47] {Threei}  If holds  .10
01[09:49] {Threei}  Invalidated
[09:50] {dino} odd, clf positive
[09:50] {scottie} got in at .98, out at .12 ??
01[09:51] {Threei}  hah... I missed it triggering
[09:51] {scottie} lucky you :)
01[09:51] {Threei}  looked at another stock at the time, didn't see it
01[09:52] {Threei} Short Setup: GDX  .40 break
01[09:52] {Threei}  If holds  .50
[09:55] {dino} 07 green
[09:57] {dino} out bdbd .81, +.31
[09:59] {cipher} evep l .45
[10:00] {dino} out aciw .91, +.41
01[10:00] {Threei}  *(US) JAN CONSTRUCTION SPENDING M/M: -2.1% V 0.4%E
01[10:01] {Threei}  US) FEB ISM MANUFACTURING: 54.2 V 52.5E; PRICES PAID: 61.5 V 57.0E
01[10:01] {Threei}  1:1
01[10:01] {Threei}  *(US) FEB FINAL UNIVERSITY OF MICHIGAN CONFIDENCE: 77.6 V 76.3E (highest since Nov 2012)
[10:02] {cipher} out evep .78 +.33
[10:05] {dino} mga spike (sounds like dr. evil company)
[10:08] {dino} guess no austin powers fans
01[10:08] {Threei}  lol
01[10:13] {Threei} Short Setup: SLW  .70 break
01[10:14] {Threei}  If holds  .80
[10:20] {cipher} out idcc .78 -.02
01[10:20] {Threei}  no go
[10:21] {cipher} mdco drop
[10:24] {dino} unxl drop
[10:25] {cipher} mdco l .16
[10:26] {cipher} anss drop
[10:29] {cipher} anss l .25 ave
[10:30] {dino} aciw sm l .41
[10:31] {dino} fcx sm l .55
[10:33] {cipher} out mdco .35 +.19
[10:34] {cipher} out anss .71 +.46
[10:34] {dino} nice
[10:34] {cipher} thx
01[10:36] {Threei} Long Setup:  BBRY  .50 break
[10:37] {cipher} evep blood
[10:37] {dino} 25% reduction in reserves
[10:37] {cipher} evep l.09
[10:38] {cipher} out .43 +.34
[10:38] {dino} 48,76 area gap evep
[10:38] {cipher} is that bad news?
[10:38] {cipher} whatever
[10:38] {dino} i guess
[10:38] {cipher} I don't care either way
[10:38] {cipher} got my scalp
[10:39] {dino} i'll look at it around gap area if it gets there
01[10:39] {Threei}  cipher reached Zen of Price
[10:40] {cipher} gut feel works fine for me
[10:40] {dino} half the battle buddy
01[10:40] {Threei} Short Setup: NTAP  34 break
01[10:40] {Threei}  If holds  .10
01[10:42] {Threei}  Invalidated
[10:43] {dino} markets are saying cut some more politicians
01[10:44] {Threei}  but didn't 170 million lost their job today?
[10:44] {dino} giddy-up
01[10:44] {Threei}  lose
01[10:44] {Threei}  and techers got fired everywhere?
01[10:45] {Threei}  and fires burn unattended?
[10:45] {dino} and dogs and cats living together
[10:45] {dino} chaos
01[10:46] {Threei}  lions and lambs?
[10:49] {Will49} Burlisconi would clean this mess up
01[10:49] {Threei}  we can only hope
[10:52] {dino} stop fcx .49 -.06
[10:53] {dino} meli spike
[10:58] {dino} out aciw .62, +.21
[11:00] {cipher} alny l .09
[11:01] {dino} reload .76 aciw
[11:02] {cipher} out alny .20 +.11
[11:08] {dino} ioc drop
[11:09] {cipher} nice call... missed it
[11:10] {cipher} buck fifty in couple min
[11:11] {dino} stop aciw .59 -.17
[11:11] {dino} missed it too
01[11:14] {Threei}  crap, NTAP invalidated, then worked
01[11:14] {Threei}  BBRY, trail to .44
01[11:16] {Threei}  (US) Speaker Boehner (R-OH): Reiterates need to take on the spending problem in Washington; hopeful will not have to deal with Govt shutdown (due March 27) while still dealing with sequester
01[11:17] {Threei}  Reiterates the discussion about new revenues is over
[11:19] {dino} good
01[11:19] {Threei}  remains to be seen whether they can stand their ground
[11:22] {dino} ioc drop
[11:23] {dino} secondary for 1 b
01[11:25] {Threei} Short Setup: SLW  .60 break
[11:26] {dino} unxl drop
[11:28] {nemo} president speaking in 10, headline risk
01[11:28] {Threei}  in 7
[11:29] {dino} he'll be whining
[11:29] {nemo} fine
[11:29] {jdetente} meh BBRY
01[11:32] {Threei}  stop tightening was a good idea
[11:32] {scottie} enough pain for me, I'm outta here, see you all monday
[11:32] {nemo}  bend over and take it like a man
[11:32] {scottie} BOHICA lol
01[11:32] {Threei}  have a good weekend scottie
01[11:32] {Threei}  there is news on BBRY also
[11:33] {Will49} fagettaboutit man
01[11:33] {Threei}  Pacific Crest cautious comments
[11:33] {dino} cya scott
[11:33] {scottie} bye everyone :)
01[11:35] {Threei}  frikin SLW
[11:36] {jdetente} I broke the rules and got 1:1
[11:36] {Will49} you're under arrest
01[11:37] {Threei}  let me give you better way to break rules
01[11:38] {Threei}  SLW invalidated .60 setup at 11:20 - 11:21, by going to .73,
01[11:38] {Threei}  dropped to .55,
01[11:38] {Threei}  bounced and topped out at .71.
01[11:38] {Threei}  Breaking .70 it gave an aggressibe double top entry,
01[11:39] {Threei}  with much tighter stop and better potential
01[11:39] {Threei}  vs .60 trigger that was very iffy
[11:39] {jdetente} with a .76 stop?
01[11:39] {Threei}  right
[11:39] {jdetente} that makes sense better risk/reward
01[11:39] {Threei}  .60 could have easily be a trap with immediate bounce
01[11:39] {Threei}  forming double bottom, .55 - .58
01[11:41] {Threei}  OK, economy is finished as of today
01[11:42] {Threei}  750,000 jobs
[11:42] {dino} the joke is he set this up
01[11:42] {Threei}  there are more jokes in it
01[11:42] {Threei}  for instance, these cuts can easily be reconfigured so they cut waste
01[11:43] {Threei}  but he doesn't want it, he wants them to cause damage, so he could lay the fault at republicans' feet
01[11:44] {Threei}  there you go: "ot's happening because republicans in congress failed to act"
[11:44] {dino} never his fault for anything
[11:45] {Will49} is ANYBODY in politics or business taking responsibility for anything these days?
[11:46] {Will49} the "me" generation in action
[11:47] {dino} clh drop
[11:49] {Will49} Jaded:  
[11:49] {Will49} The end result of having a steady flow of negative experiences, disappointment, and unfulfillment fed into a person where they get to the point where their anger circuits just sort of burn out and they accept disillusionment.
[11:49] {Will49} me
[11:49] {Will49} but just about politics mainly
[11:50] {dino} clh sm l .80
[11:51] {dino} out clh .10, +.30
[11:52] {Will49} guess I insulted the "me" generation guys here too
[11:53] {dino} lol. yo are just stating the truth
[11:53] {Will49} yeah dino:)
[11:54] {Will49} the "me" generation guys here ARE taking responsibility for their own financial affairs anyway
[11:56] {dino} left a lot on the table w/clh
[11:56] {Will49} Hey Vad, I'm starting to sound like that guy on the blog who complains about everything. Can
[11:56] {Will49} t remember his name
[11:56] {nemo} the Hawaiian guy?
01[11:56] {Threei}  I am not much different so... :)
[11:57] {Will49} no. older guy from Illinois
01[11:57] {Threei}  grym
[11:57] {Will49} that's him
[11:57] {nemo} thus the moniker
[11:57] {Will49} :)
[11:57] {nemo} makes me look downright palatable
[11:57] {Will49} when I was reading the blog, i had to put the guy on ignore
[11:58] {Will49} now, i is he
[11:59] {Will49} would never put you on ignore nemo
[11:59] {Will49} we don't have an ignore button, do we?
01[12:00] {Threei}  we do
01[12:00] {Threei}  in mirc
[12:01] {Will49} tks Vad...don't need it :)
[12:03] {Will49} gonna have a shower and see if I can run my attitude down the drain
01[12:05] {Threei} Short Setup: SLW  .50 break
[12:15] {thomcbell} how was the morning nice rally
01[12:15] {Threei}  back and forth
01[12:15] {Threei}  perfect opening
01[12:16] {Threei}  then this slow climb started
01[12:16] {Threei}  yolu know how much I hate those
[12:17] {thomcbell} fb looks like a long here
[12:17] {dino} decent tbell
[12:31] {thomcbell} long setup coh - 48.42 break if holidng 48.34
[12:44] {thomcbell} coh invalid
[12:44] {thomcbell} still on watch
[12:47] {thomcbell} fb worked 1:2 if anyone did -
01[12:47] {Threei}  wtg
[12:51] {thomcbell} fb 1:3
[12:51] {thomcbell} dino - trla
[12:52] {thomcbell} going bananas today
[12:53] {dino} lemme look
[12:53] {dino} need a big azz spike
[12:54] {thomcbell} fb out final 27.49
[12:58] {thomcbell} fb lord
01[12:58] {Threei}  yeah
01[12:59] {Threei}  news driven
01[12:59] {Threei}  Facebook Schedules a media even for March 7th to unveil a new look for Facebook.com's news feed - blogs- "Facebook has just sent out an invite to press with the text Come see a new look for News Feed. The event will be held at Facebook on Thursday March 7th, 2013 at 10am PST and well be on site."
01[12:59] {Threei}  what's the big deal about "new look"
01[12:59] {Threei}  shrig
01[12:59] {Threei}  srug
01[12:59] {Threei}  shrug
01[12:59] {Threei}  got it on third try
[13:00] {nemo} Hey! Komrade...get a load of this: http://bloom.bg/Z2LPXn
[13:01] {nemo} or this:  http://bit.ly/Z2LUu3
[13:01] {Will49} vad will go ballistic
01[13:02] {Threei}  sigh
01[13:02] {Threei}  you are USSR in the making, that'sall I can say
[13:02] {Will49} sigh is a sign of jadedness
[13:03] {nemo} he says the same thing my Russian friend said when he came here in 75.  "I never thought I'd see this again."
01[13:03] {Threei}  wait... he said that in 75?
01[13:03] {Threei}  or he camr in 75 and says it now?
[13:03] {nemo} that's when he came here
[13:03] {nemo} sorry
01[13:04] {Threei}  so when did he say it?
[13:07] {dino} its starting to look like atlas shrugged
[13:07] {nemo} about 15 years ago was the first time
[13:07] {nemo} that I remember anyway
01[13:08] {Threei}  OK... I have no direct knowledge of that, I came here 17 years ago :)
[13:08] {nemo} frickin' rookies
01[13:08] {Threei}  but what I see now is frighteningly similar
[13:18] {nemo} well habeus corpus is toast, now they're going after private property
01[13:30] {Threei}  will, look dcc
[13:34] {Will49} thanks Vad:)
[13:37] {thomcbell} feel like fb could squeeze more
[13:37] {thomcbell} thing has been such a dog - should have a lot of shorts
[13:37] {dino} bid spike
[13:39] {dino} sm s .85 bstop .02
[13:43] {dino} to .75
[13:44] {dino} cov bid .70, +.15
01[13:47] {Threei} Short Setup: GDX  .15 break
01[13:47] {Threei}  If holds  .25
01[13:54] {Threei}  (US) Senate Minority Leader McConnell (R-KY): Will not agree to increase taxes, any sequester agreement will not be a 'back room deal'
01[13:54] {Threei}  this one below is almost comic:
01[13:54] {Threei}  (DE) Germany Chancellor Merkel: Budget savings and economic growth are not competing ideas; it is wrong to be negative about 'sound budgets'
01[13:54] {Threei}  the very fact that someone needs to say it...
[13:55] {dino} right
[14:01] {dptl} have a good weekend all...see ya monday
01[14:01] {Threei}  huh? 2 hours of suffering left!
[14:01] {Will49} peace dp:)
[14:01] {dptl} go to go :)
01[14:02] {Threei}  sigh
01[14:02] {Threei}  no... jaded sigh
01[14:02] {Threei}  :)
[14:02] {Will49} if you don't go when you have to go, when you go to go you find you've already gone
01[14:02] {Threei}  lol
[14:02] {dino} cya dp
[14:23] {dino} zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz]\
[14:30] {dino} wday spike
[14:35] {dino} shpg
01[14:48] {Threei} Long Setup:  FB  .85 break
[14:49] {thomcbell} without consolidatation?
01[14:50] {Threei}  the speed with which things go, it will consolidate plenty before breaking that :)
01[14:50] {Threei}  just want to put the trading idea out tnhere in advance
[14:53] {thomcbell} splk 38.26 long setup if holding 38.15
[14:53] {thomcbell} typed a bit late sorry
[14:54] {thomcbell} splk 1:1
[14:59] {dino} shpg again
01[15:04] {Threei}  1:1
01[15:10] {Threei}  wow, I finally got something right, since morning :)
[15:11] {jdetente} dang it...my internet died for the past 30 minutes
01[15:12] {Threei}  yikes
[15:12] {jdetente} last trade for me was the GDX stop out
01[15:13] {Threei}  we got FB long from .85 since then
[15:13] {jdetente} cool.
[15:26] {thomcbell} what a rinse that was on splk
[15:33] {Will49} Have to skip out...have great weekend eveybody:)
01[15:33] {Threei}  take care will
01[15:47] {Threei}  somewhat tiresome week
01[15:48] {Threei}  I liked the selloff part, not the climb back up part
01[15:48] {Threei}  let's have a great weekend and get them next week
01[15:48] {Threei}  see you all Monday
[15:48] {jdetente} sounds like a plan. Have a great weekend all.
[15:51] {dino} calling it a week, thx for ideas
01[15:53] {Threei}  take care dino

Feb 28 2013

Boring and slightly above the water day. A few plays with nice potential turned into merely scalps not reaching 1:2 by just a cent or two. Volume disappears, this may easily turn into the end of the bounce.

Session Time: Thu Feb 28 00:00:00 2013

[08:55] {jdetente} good morning

01[08:55] {Threei}  jd :)

[09:08] {cipher} gm

01[09:09] {Threei}  cipher :)

[09:13] {scottie} good morning

01[09:13] {Threei}  scottie :)

[09:13] {nemo} bad data no drop

01[09:15] {Threei}  jobless claims not bad

[09:17] {Will49} gm

01[09:18] {Threei}  will :)

[09:18] {dino} gm

01[09:18] {Threei}  dino :)

[09:22] {thomcbell} jcp - quarterly report was a catastrophe

[09:23] {dptl} gm

[09:23] {thomcbell} might be a fun one to play with 1/4 lots today 

01[09:23] {Threei}  dp :)

[09:23] {dino} bsft somebody leaked it yesterday

[09:23] {thomcbell} all those bodies dumped in Secaucus are trying to dig out 

01[09:23] {Threei}  lol

01[09:24] {Threei}  just thought, after all the strentgh of the last days...

[09:31] {nemo} sheesh, look at the spread on FAS

01[09:32] {Threei} Short Setup: GDX  38 break

01[09:33] {Threei}  If holds  .10 

[09:34] {thomcbell} jcp looks like floor could come out

[09:34] {thomcbell} not playing 

01[09:34] {Threei}  stop to .06

01[09:36] {Threei}  1:1

[09:36] {dino} gj

[09:37] {ese} good morning

[09:37] {thomcbell} there it goes jcp 

[09:38] {dino} cri sm l .95

[09:38] {cipher} MDVN L .09

01[09:38] {Threei}  ese :)

01[09:39] {Threei}  wow JCP

[09:39] {ese} mornin vad .....i'll say jcp

[09:40] {ese} JCP: Update: Morgan Stanley making cautious comments; Reiterates Underweight rating, price target $13 

01[09:41] {Threei}  after that report, even 13 looks too generous

[09:41] {patel} gm

[09:41] {cipher} SHD L .86

[09:42] {ese} 4Q EPS loss and -32% - Source TradeTheNews.com

[09:42] {cipher} VRTX L ..18

01[09:42] {Threei}  patel :)

[09:43] {cipher} out vrtx .29 +.11

01[09:44] {Threei}  GDX 1:2

01[09:44] {Threei}  out in full

[09:44] {Will49} tks Vad out

01[09:44] {Threei}  yw

01[09:45] {Threei}  *(US) FEB CHICAGO PURCHASING MANAGER INDEX : 56.8 V 54.0E

[09:45] {scottie} couldn't short, great call Vad

01[09:46] {Threei}  ty

[09:46] {thomcbell} short setup slw 32.14 break if holding 32.25

[09:47] {cipher} SFLY L .05

[09:48] {thomcbell} wow whats gotten into lvs

[09:49] {cipher} ctrx l .15

[09:49] {dino} aciw sm l .76

[09:49] {dino} gappy

[09:49] {dino} thinny

01[09:49] {Threei} Short Setup: LVS  .15 break hl

01[09:49] {Threei}  If holds  .25 

[09:52] {dino} rgr drop

01[09:52] {Threei}  no go

01[09:55] {Threei}  rinse

01[09:55] {Threei}  bastard

[09:56] {nemo} http://www.chron.com/jobs/article/Survey-reveals-10-percent-of-people-have-had-sex-4313430.php

[09:56] {nemo} wow...I would have thought it would be higher

[09:57] {thomcbell} slw stop 

[10:01] {ese} bored people.........who does surveys like that.......

[10:02] {dino} vips drop

01[10:07] {Threei} Short Setup: FCX  .85 break

01[10:07] {Threei}  If holds  .95 

[10:08] {nemo} .95 is vwap, see if you can short it from there

01[10:14] {Threei}  let's rcalibrate it

01[10:14] {Threei}  .90 break

[10:14] {nemo} .98 is S1

[10:15] {nemo} you have resistance at the whole

[10:15] {dino} fighting the trend imo

[10:15] {thomcbell} wow lvs

[10:16] {nemo} volume spike, that could be it on lvs

01[10:16] {Threei}  aggressive entry, tighter stop, going for larger move

[10:16] {thomcbell} almost trading like the reit stuff is out there again

01[10:16] {Threei}  let's try to cover half near .80 and play for breakdown on the rest

[10:17] {scottie} stop .96 ?

[10:17] {nemo} well, that's the last of the JD...sheesh

01[10:17] {Threei}  yup

[10:22] {dino} jah spike

[10:27] {jdetente} nemo have you tried the bushmills irish honey?

[10:28] {thomcbell} shortsetup bbry 13.60 break if holding 13.67

[10:28] {nemo} I'll add it to the list if I can find

[10:28] {jdetente} it's pretty good much stronger than the JD Honey not so sweet

[10:30] {thomcbell} bbry 1:1

01[10:31] {Threei}  IMF's Murray: US spending cuts will hurt the economic outlook

01[10:31] {Threei}  imbecile

01[10:32] {Threei}  try thst Murray: absence of spending cuts will bankrupt US. Will that hurt economic outlook?

01[10:32] {Threei}  ok FCX

01[10:32] {Threei}  time to die

01[10:33] {Threei}  1/2 out

[10:33] {scottie} half out tks Vad

01[10:33] {Threei}  stop to .91

01[10:35] {Threei}  guys, speaking of macroeconomics, an article I suggest you read when got 5 min:

01[10:35] {Threei}  http://www.caseyresearch.com/cdd/doug-casey-g20-economic-suicide

[10:36] {thomcbell} bbry stop to 13.56

01[10:36] {Threei}  I don't agree with everything in it, but most things he gets exactly right, IMO

[10:37] {thomcbell} stopped on 2nd half bbry

[10:39] {dino} cri stop -.23

[10:40] {scottie} stop .86 ?

01[10:41] {Threei}  yes, now after .75 loss

[10:42] {nemo} I'm finding when you have a weak stock like FCX, short it as near to vwap as possible, if it's below, they're a pretty consistent play

[10:43] {scottie} out

[10:44] {jdetente} out thx Vad

01[10:44] {Threei}  yw... counted on more but...

[10:44] {Will49} tks Vad

01[10:50] {Threei} Short Setup: FB  .60 break

01[10:51] {Threei}  If holds  .70 

[10:51] {dino} cri sm l .61

01[10:51] {Threei}  target 1:3

[10:54] {nemo} oh, bunny attacked my father again

[10:55] {dino} he's going to shoot that rabbit some day

[10:55] {nemo} yeah, she's decided his room is her hutch and has become protective of it, so had to  gate the door...she knocked the gate down

[10:55] {nemo} they use their heads like a battering ram...it's impressive

[10:56] {nemo} I can't get that scene from Monty Python out of my head

[10:56] {nemo} matter of fact, I have the movie on my hard drive

[10:57] {jdetente} http://terrymalloyspigeoncoop.files.wordpress.com/2012/04/killer_rabbit.jpg

[10:57] {thomcbell} jcp may squeeze thru 17.14

[11:03] {dino} pkt sm l .97

[11:11] {dino} gut says rally time

[11:12] {nemo} sure looks like it

01[11:13] {Threei} Long Setup:  IBM  .40 break sm sh

01[11:13] {Threei}  If holds  .25 

01[11:15] {Threei}  FB takes its sweet time

[11:15] {nemo} need market higher to give fund inflows the high print for the 1st

01[11:15] {Threei}  but we are with house money here, so it's fine

[11:15] {nemo} all that money comes in on a high print....and then SLAM!!!!!

01[11:15] {Threei}  that was mighty nice breakdown it gave us

[11:16] {dino} like little rabbit foo foo, huh nemo

[11:17] {nemo} ?

[11:17] {dino} "bang 'em on the head" old nursery rhyme

[11:17] {nemo} oh yeah, forgot about that

01[11:18] {Threei}  IBM target .70 or so

01[11:18] {Threei}  and FB target is still 1:3

[11:18] {nemo} I've created a monster...she hops up on the bed every night now looking for treats under my pillow

01[11:18] {Threei}  gosh, the number of dirty jokes nemo begs for...

[11:18] {Will49} I dated a girl like that once

01[11:18] {Threei}  there

01[11:18] {Threei}  it starts

[11:18] {dino} lol

[11:18] {jdetente} lol Will

[11:19] {nemo} just takes a little prodding

[11:20] {jdetente} hmmm...not going to comment on that one

01[11:20] {Threei}  really?

01[11:21] {Threei}  there are limits to our willingness to dig into darl depths of nemo's mind?

[11:21] {nemo} wuss

[11:21] {Will49} mind?

[11:21] {nemo} most recent picture of bunny coming

01[11:21] {Threei}  right... I back down from that

[11:21] {dino} cptr

01[11:21] {Threei}  1:1 IBM

[11:21] {dino} cprt

01[11:22] {Threei}  I think I misplayed FB a little

01[11:23] {Threei}  it came to 1:2 so close and with such sharp red bar that we should have covered 1/4 more there

[11:23] {dino} sm s .08

[11:23] {dino} cov cprt .58, +.50

01[11:24] {Threei}  out on a trail

[11:24] {Will49} tks Vad...still good

01[11:25] {Threei}  yes but I should have managed it a little better

01[11:25] {Threei}  such capitulation-like drops are very likely to produce a snapback

[11:25] {thomcbell} short setup jcp 17.30 break if holding 17.45

[11:25] {scottie} NEM l .70 ?

01[11:26] {Threei}  and covering next part arouind .43 - .44 was called for, shouldn't have been too rigid

[11:26] {scottie} late

[11:26] {dino} saia spike

01[11:26] {Threei}  hard to tell NEM... too narrow for my taste

[11:27] {scottie} break of .70 with volume, thought it was a good setup

01[11:28] {Threei}  just whole daily range being 30 cents

[11:28] {jdetente} there's 1:2 IBM

[11:28] {Will49} out IBM 1:2 tks

01[11:28] {Threei}  :)

[11:28] {scottie} I see

[11:28] {dino} gj

[11:33] {dino} cprt spike again

01[11:34] {Threei}  why does SPRT symbol sounds to me like the sound of enema?

[11:34] {dino} r3 reject

[11:35] {jdetente} IBM nicely done. Thx Vad

01[11:35] {Threei}  yw

[11:37] {Will49} how about that couple that is addicted to coffee enemas?

[11:37] {Will49} Yikes

[11:37] {jdetente} wth??

[11:39] {dino} pkt stop -.10

[11:39] {Will49} http://www.foxnews.com/health/2013/02/12/florida-couple-use-coffee-enemas-to-cleanse-colons/

01[11:40] {Threei}  meet nemo rabbit: https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhqyXSVvlhp1oS4G1uDdB_G3_yBskQ6RSN5UbCPL0YIvLJbrR_X-GAgRKvEpoAfUPlsOSuwYfBJAupIO-3swwqzdfhsW-k7DqOBaZXEnEQvSMTZQdFOL58l69vDGG_pUUe_X8AhqdCYaZPf/s1600/nemorabbit.jpg

[11:40] {thomcbell} jcp was invalidated obviously 

[11:41] {dino} pkt rinsed

01[11:42] {Threei}  anyone read that article? agree, disagree?

[11:42] {dino} casey, agree

[11:43] {dino} saying what i was saying, all countries racing to the bottom on currencies

01[11:43] {Threei}  I also liked the analogy with guy jumping out of 100 floor

[11:44] {dino} yeah

[11:44] {dino} ok so far

01[11:44] {Threei}  pretty much what I hear from the left: all your fears haven't materialized yet, have they

01[11:45] {Threei}  not much different from similar discussions in USSR

01[11:46] {Threei}  but economic model is unsustainable! - oh, but it works so far, doesn't it?

01[11:47] {Threei}  it does... until it doesn't

01[11:49] {Threei}  frikin FB

01[11:52] {Threei}  let me reiterate

[11:56] {dino} out cri .01, +.40

[12:00] {dino} out aciw .40, +.64. tok hours

[12:00] {dino} took

[12:01] {dino} brb

[12:35] {dino} .

01[12:39] {Threei} Long Setup:  BBRY  .70 break

01[12:45] {Threei}  1 cent to 1:1...? stop to .69

[12:55] {dino} zzzzzzzzzzzzzzzzz

[12:58] {ese} am not...................am sleeping

[12:59] {dino} bby drop

[13:01] {dino} rrc spike

01[13:04] {Threei} Short Setup: FB  .37

01[13:04] {Threei}  If holds  .45 

01[13:20] {Threei}  wow

01[13:20] {Threei}  wtf

01[13:20] {Threei}  who said what where

[13:22] {jdetente} no dice

01[13:22] {Threei}  still no news

01[13:23] {Threei}  where did this spike come from, with such volume

[13:23] {jdetente} bizarro

[13:23] {Will49} Bernanke was just elected Pope

01[13:24] {Threei}  say quickly you are kidding, before ese went berserk

[13:24] {dino} cri sm l .37 ave

[13:24] {jdetente} http://www.zerohedge.com/sites/default/files/images/user5464/imageroot/2013/01/POPE%20OF%20PONZI%20Converted.jpg

01[13:25] {Threei}  ,lol

[13:25] {Will49} hahaha

01[13:25] {Threei}  this is good one

[13:32] {dino} out cri .54, +.17

[13:32] {dino} lots of slips lately, that was at .61

[13:33] {dino} on the other hand, glad i'm out

01[13:33] {Threei}  good thinking :)

01[13:34] {Threei}  (US) S&P issues commentary on sequester impact on state and local Governments- The implementation of approximately $85 billion in cuts from the federal budget may have only minor negative credit consequences for state and local governments and their affiliated entities - Most municipalities have exhibited their willingness to impose cutbacks in response to a weaker revenue environment since the beginning of the recession, and we expect them to be prepared for the possibility of sequestration

01[13:35] {Threei}  whole thing is such a non-issue

[13:39] {scottie} gotta leave early, see you all tomorrow

[13:39] {Will49} bye scottie

01[13:39] {Threei}  take care scottie

01[13:40] {Threei}  lol: http://goo.gl/L3ZmA

[13:41] {jdetente} lol

[13:41] {Will49} :0

[13:42] {Will49} :)

[13:44] {dino} cbi going for gap

[13:46] {Will49} will going for nap

[13:47] {Will49} kidding...just trying to entertain myself

[13:48] {nemo} that's precious

01[13:49] {Threei}  wait for the market to get tired and start dropping... you will beg for daytime naps

[13:50] {Will49} nemo...is that a facetious remark?

01[13:50] {Threei}  you hjave ever seen any other nemo?

01[13:50] {Threei}  from nemo

[13:51] {Will49} Nemo really loves me after all

01[13:51] {Threei}  or better outL you have ever seen anything nemo-related that wouldn't be facetious?

[13:51] {Will49} don't threaten my naivety

[13:51] {jdetente} what you don't realize Will is this is how nemo said it.

[13:51] {jdetente} https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhkxz5mwD6EdUfgNd8MO-uCbY9yBB0jqRKP4YHdI7a2LwJH0tXfaagg5UoocKFvD5RQ6imNiMmb_BGmrHGtAJXjX5jcd4eXZNEfEgw6KExN8umLgzWqite4D7qa0thX4Vu45TWfxmd1Ty4/s1600/everytime-i-get-dp-my-precious.jpg

[13:52] {nemo} I was talking about vad's link

[13:52] {Will49} see, i'm so ego-centric

[13:52] {nemo} and what makes you think you're unique?

[13:53] {Will49} jd..don't think nemo will like choice of photo :)

[13:53] {jdetente} counting on it

[13:53] {Will49} just trying to be one of the boys

[13:53] {nemo} reminds me...whacked my leftist-professor buddy on the illogic of altruism.  Told me I was full of shit, but neglected to point out why

[13:54] {Will49} i'll have to look up altruism in dictionary

[13:55] {dino} suppose you hurt his feelings

[13:55] {nemo} I tend to emphasize non-pc speak too

[13:55] {dino} bravo

[13:55] {dino} whatever happened to free speech?

01[13:55] {Threei}  but nemo... you lack COMPASSSSIONNN....

[13:56] {nemo} I live by the dictum "True words are not fine sounding, Fine sounding words are not true."

[13:56] {nemo} Now that's not true Vad...

[13:56] {nemo} I'm in the soul transition assistance profession

01[13:56] {Threei}  comeon... I'll stop talking to you the day I find you compassionate in leftist professor sense of the word

[13:57] {nemo} well, I can talk it with no problem  ;-)

[13:57] {ese} am gone all cya tomorrow just waitin on HTZ position.........02 dn at this point.

[13:57] {Will49} peace ese

[13:58] {ese} cya will

[13:58] {ese} vad nemo

01[13:58] {Threei}  take care ese

[13:58] {nemo} guess that's my fault  ;-)

[13:58] {dino} cya

01[13:58] {Threei}  don't see you being particularly sad about it

[13:58] {nemo} wtf...spilt milk

[13:59] {dino} cedu?

01[14:01] {Threei}  no news since Jan 16, about shares repurtchase agreement

[14:03] {dino} thats all i saw

[14:09] {dino} lstr sm s .25

[14:13] {dino} cov -.25

[14:17] {dino} another rinse

[14:20] {dptl} hlf? whats with it?

[14:21] {dino} halt

01[14:21] {Threei}  news pending

[14:21] {dptl} that is just great...i am long .76

[14:22] {dino} gl

01[14:22] {Threei}  yikes

01[14:22] {Threei}  let's hope it's something good

[14:22] {dino} been there, always screwed

[14:22] {dino} usna

[14:23] {dino} nus

[14:23] {dino} bth

[14:23] {dino} all of them going up

[14:24] {dptl} just my luck......when do they expected?

[14:24] {dino} dk

01[14:24] {Threei}  Herbalife Ltd. Nominates two Icahn reps to Board

01[14:25] {Threei}  - reached an agreement with Carl C. Icahn, Icahn Enterprises Holdings L.P. and certain related entities (collectively the Icahn Parties), which beneficially own, in the aggregate 14,015,151 shares of Herbalife common stock, representing approximately 13.6% of the Companys outstanding shares. As part of the agreement, Herbalife will increase the size of its Board of Directors from nine to eleven members immediately before the 2013 Annual General Meeting of Shareholders - Icahn Parties have agreed to, among other things, abide by certain standstill provisions and vote their shares in support of all of the Boards director nominees. The Icahn Parties have the right to increase the size of their ownership position in Herbalife up to 25% of the outstanding common stock. A copy of the agreement with further detail will be attached to a Current Report on Form 8-K to be filed by Herbalife with the Securities and Exchange Commission

01[14:26] {Threei}  well, looks nice

[14:30] {dptl} well..ok its either kill me,or give me some...will see...nothing i can do now

01[14:31] {Threei}  there

[14:31] {jdetente} happiness 

01[14:31] {Threei}  congratulations

01[14:31] {Threei}  get the f**k out

[14:31] {dino} put a stop in

[14:31] {Will49}  just your luck eh dp?

[14:31] {jdetente} raise it

[14:32] {jdetente} again

[14:32] {jdetente} take at least 40

01[14:32] {Threei}  ummm... di he leave for a cigarette?

[14:32] {dino} fainted

06[14:33] * Threei slaps dptl around a bit with a 2x4

[14:33] {dptl} oh boy..got out at between .16 and .22

01[14:33] {Threei}  whew

[14:33] {jdetente} 40.16? gj!

[14:33] {dino} wtg

[14:33] {Will49} how's your luck now?

[14:34] {dptl} whew...

[14:34] {dptl} should buy lottery prob.:)

[14:34] {Will49} as they say...anything can happen

[14:35] {dino} "trading in the zone"

[14:36] {Will49} yeah

01[14:38] {Threei}  congratulations dp, this is rare occurrence

01[14:38] {Threei}  most halts are adverse to traders

01[14:39] {Threei}  get your shot of best bodka you can find in Vancouver

[14:39] {dptl} lol

[14:40] {dino} i've been screwed on many halts, glad it worked out for you dp

[14:40] {dptl} ty

[14:40] {Will49} looks good on ya

01[14:42] {Threei} Short Setup: SLW  .60 break

01[14:42] {Threei}  If holds  .66 

01[14:43] {Threei}  aggressive for .55, and .50 is last defense line on daily

01[14:43] {Threei}  target is about .30

[14:46] {dino} last try lstr sm s .53

[14:46] {dino} bstop is .71

[14:46] {dino} off my screen

01[14:47] {Threei}  OK SLW

01[14:47] {Threei}  let's put some fireworks

01[14:48] {Threei}  1:1

01[14:59] {Threei} Short Setup: BBRY  .35

01[15:00] {Threei}  If holds  .45 

[15:03] {dino} bdbd drop 

[15:04] {dino} sm l .60

[15:05] {nemo} http://bit.ly/15TZw1d

01[15:06] {Threei}  lol

[15:06] {jdetente} hahaha

01[15:06] {Threei}  nemo, got perfect life motto for ya

[15:06] {dptl} out bbry ty

01[15:06] {Threei}  "Karma takes too long. I'd ratner beat the crap out of you now"

01[15:06] {Threei}  1:1

[15:08] {dino} cbi sm l .60

01[15:08] {Threei}  EUR/USD Hits fression lows

[15:11] {dino} out bdbd .90, +.30

[15:19] {dino} cnc

[15:22] {dino} sm l .32

[15:24] {dptl} gn all ...see ya tomorrow

01[15:24] {Threei}  take care dp, take down that blood pressure

[15:25] {Will49} see ya dp

[15:25] {dptl} yeah..

[15:27] {dino} cya dp, gj

[15:27] {dino} out cbi .94, +.34

[15:37] {dino} cnc stop -.30, hate to see what would happen if they lost cal. contract

[15:37] {dino} cedu spikes again

[15:40] {dino} ypf drop

[15:43] {dino} ypf sm l .85

[15:47] {dino} ypf stop -.12

01[15:49] {Threei}  kuttle follow through today, many nice plays that turned just a scalp

01[15:49] {Threei}  kuttle?

01[15:49] {Threei}  little

[15:50] {jdetente} with many getting within a couple cents of 1:2

01[15:50] {Threei}  volume dried up again,

01[15:50] {Threei}  and daily looks like bounce exhausting itaself

01[15:50] {Threei}  hopefully bounce is done, and we resume downdraft

01[15:51] {Threei}  yes jd... if this continues, will make a correction for that

01[15:51] {Threei}  ok guys, thank you all

01[15:51] {Threei}  have a great evening

[15:51] {jdetente} gn

01[15:51] {Threei}  see you tomorrow

[15:51] {Will49} cheers

Feb 27 2013

Today's Catch of the Day JBE setup is as cookie-cutter as they get, total "Standard Operating Procedure" play, no thinking involved - follow the manual, pocket the profit.

Session Time: Wed Feb 27 00:00:00 2013
[09:07] {dino} gm
01[09:09] {Threei}  dino :)
[09:10] {nemo} what's my name?
01[09:10] {Threei}  hmmm
[09:10] {nemo} can't find my i.d.
01[09:10] {Threei}  call yourself and see who picks up phone?
[09:11] {nemo} my phone is right here
[09:12] {jdetente} good morning all
01[09:12] {Threei}  jd :)
[09:13] {thomcbell} vad - been re-reading 111 trades
01[09:13] {Threei}  I plan too
[09:13] {thomcbell} excellent job
01[09:14] {Threei}  thank you sir!
01[09:14] {Threei}  it should be called 164 trades now I guess, with latest addition...
[09:20] {dptl} gm
[09:20] {nemo} well, was wrong about the long setups going into the close.  Having said that, that, I think is the first time a long closing setup hasn't delivered in this bull run
[09:20] {cipher} gm
[09:20] {Will49} Good morning
01[09:20] {Threei}  cipher :)
01[09:20] {Threei}  will :)
01[09:20] {Threei}  dp :)
[09:26] {thomcbell} aig on watch for short setup - held multiple levels nicely but ......
[09:27] {ese} morning
01[09:27] {Threei}  ese :)
01[09:28] {Threei}  BBRY on short watch
01[09:28] {Threei}  FCX too
01[09:32] {Threei} Short Setup: BBRY  13 break
01[09:32] {Threei}  If holds  .10
01[09:33] {Threei} Short Setup: FCX  .90 break
01[09:33] {Threei}  If holds  32
01[09:35] {Threei}  ( (US) Congressional leaders to meet with President Obama on Friday
01[09:35] {Threei}  that's why sudden spike
01[09:35] {Threei}  sheesh
[09:35] {cipher} adsk l .16
01[09:36] {Threei}  Invalidated  FCX
[09:38] {thomcbell} lvs wow
[09:38] {cipher} out adsk .45 +.29
01[09:39] {Threei}  no go BBRY
[09:40] {cipher} spwr l .91
01[09:40] {Threei} Short Setup: GDX  .50 break
01[09:40] {Threei}  If holds  .60
[09:40] {nemo} ahh, so we're getting the breakout this morning
[09:41] {cipher} cost l .22
[09:42] {cipher} out spwr .03 +.12
01[09:42] {Threei}  stop to .56
[09:42] {cipher} out cost .54 +.32
[09:43] {thomcbell} coh long setup 48.71 break - half lot
[09:44] {thomcbell} coh 1:1
[09:44] {thomcbell} coh 1:2
[09:44] {cipher} wtg tbel
[09:44] {thomcbell} not a scalp for me
[09:45] {thomcbell} could get stupid
01[09:45] {Threei}  1:1
[09:47] {thomcbell} out even on coh
[09:48] {thomcbell} market too ittery
[09:49] {dino} cri sm l .51
[09:49] {thomcbell} short setup aig 37.50 break i entered - bad typing
01[09:50] {Threei}  COH starts looking interesting for 49 break
[09:50] {thomcbell} yes theres a takeover rumor on it
01[09:50] {Threei}  not for faint heart
[09:51] {cipher} +.17 cri thx dino
[09:51] {thomcbell} bbry reverse c&h vad
[09:52] {thomcbell} coh pretty tight here for a whippy stock
[09:52] {cipher} exxi l .31
[09:52] {dino} gj cipher
[09:54] {nemo} vwap bounces iwm spy fas
[09:56] {cipher} out exxi flat
[09:56] {thomcbell} aig 1:1
[09:57] {cipher} expe l .34
[09:57] {cipher} out .24 -.10
[09:59] {thomcbell} aig flat on 2nd half
[09:59] {dino} out cri .98, +.47
[09:59] {Will49} nice dino
[09:59] {cipher} wtg
[09:59] {dino} ty, but kindda sucked, thing spiked to 56.68
[10:00] {cipher} expe l .34
01[10:00] {Threei}  *(US) JAN PENDING HOME SALES M/M: 4.5% V 1.8%E; Y/Y: 10.4% V 8.2%E
[10:00] {dino} pdce sm s .01
01[10:00] {Threei}  (IT) Center-left junior coalition party from Bersani's group is said to have rejected an offer from the center-right Berlusconi group to join a governing coalition
[10:01] {nemo} long-side filling up fast on algo
[10:01] {cipher} out expe .65 +.31
[10:03] {dino} cov pdce .25, +.76
[10:03] {cipher} nice dino
[10:03] {dino} ty
[10:04] {dino} trying to find ot why its up. q4 -4.17/share
[10:04] {dino} ahh utica shale
01[10:04] {Threei} Short Setup: SLW  .25 break
01[10:04] {Threei}  If holds  .35
01[10:05] {Threei}  nope
01[10:07] {Threei} Long Setup:  LVS  .75 break
01[10:07] {Threei}  hl
[10:08] {dptl} stop?
01[10:08] {Threei}  standard
[10:08] {dptl} k
01[10:10] {Threei} Long Setup:  CAT  .75 break
01[10:10] {Threei}  hl
01[10:10] {Threei}  If holds  .65
01[10:11] {Threei}  1:1
01[10:11] {Threei}  1:2
01[10:11] {Threei}  out
01[10:12] {Threei}  LVS stop to .69
[10:13] {cipher} rprx l .70
[10:14] {dino} pdce sm s .08
01[10:15] {Threei}  1:1
[10:17] {ese} took the cookies out of my computer and it cut me off
[10:17] {dino} cov pdce .78, +.30
01[10:17] {Threei}  now I know cookie monster is real
[10:18] {jdetente} sold some AMRN $8 puts .25/share
[10:18] {thomcbell} dino - trla one more flush right down to the 50 sma
[10:18] {jdetente} oops sorry didn't mean to post that lol
[10:18] {jdetente} wrong window
[10:18] {dino} ok
01[10:19] {Threei} Long Setup:  RIG  .50 break hl
[10:19] {dino} 22.35 tbell?
[10:20] {thomcbell} yes
[10:20] {dino} alrighty then
01[10:20] {Threei}  If holds  .40
[10:21] {cipher} pdce l .00
[10:23] {dino} 07 brockin' green
[10:23] {dino} rockin'
[10:23] {thomcbell} long setup jcp 20.70 break if holding 20.60
[10:23] {thomcbell} earnings after the bell - fyi
01[10:24] {Threei}  1:1
[10:26] {cipher} out pdce .38 +.38
[10:26] {cipher} what a ride pdce
[10:27] {cipher} shorts got squeezed and longs got whacked
[10:29] {thomcbell} jcp invalid
[10:29] {cipher} bsft blood
[10:29] {cipher} bsft l .14
[10:33] {dino} jbht bspike
01[10:35] {Threei} Long Setup:  AET  .05 break
01[10:35] {Threei}  If holds  .95
[10:44] {cipher} out bsft -.16
[10:46] {dino} railroads rocking
[10:46] {cipher} bsft l .82
01[10:48] {Threei}  stop .99
01[10:51] {Threei} Short Setup: FB  .70 break
01[10:51] {Threei}  If holds  .80
[10:51] {cipher} bsft stop -.08
[10:52] {dino} thinking 31.20s
01[10:53] {Threei}  AET 1:1
[10:53] {dino} htwr sm l .38, gappy
01[10:54] {Threei}  1:2
[10:54] {cipher} panl l.05
[10:55] {Will49} tks Vad 1:2
[10:55] {dino} out htwr .88, +.50
[10:55] {dptl} out .28 ty
01[10:55] {Threei}  yw
[10:59] {cipher} czr l .68
[11:00] {patel} 9.50 high
[11:03] {cipher} out panl .26 +.21
[11:04] {cipher} too soon
[11:07] {dino} gj
[11:08] {cipher} out czr .83 +.15
01[11:08] {Threei}  1:3, out
[11:09] {dino} darn bsft never got to my target to enter
[11:09] {cipher} scty drop
[11:10] {cipher} scty l .98
[11:11] {cipher} czr l.90
01[11:15] {Threei}  http://goo.gl/wAjxS
[11:15] {cipher} out czr .03 +.13
01[11:16] {Threei}  wow AET
01[11:17] {Threei}  can I have my exit back?
[11:19] {cipher} out scty .14 +.16
[11:19] {dino} clf spike
[11:20] {ese} L htz .69 avg .96
[11:33] {dino} mstr drop
01[11:34] {Threei} Short Setup: FB  .80 break
01[11:34] {Threei}  If holds  .90
01[11:39] {Threei}  did FB trigger? looked away for a few
[11:39] {patel} yes
[11:39] {patel} in at .79
01[11:39] {Threei}  k
[11:39] {Will49} yes in at .79
[11:41] {cipher} mstr l .98
01[11:41] {Threei}  notice 26.70 on FB,
01[11:41] {Threei}  yesterday's low
01[11:42] {Threei}  got broken earlier today, then market surge helped FB stay afloat,
01[11:42] {Threei}  but if get broken again, good chance for a sizeable drop
[11:46] {dino} nice mstr entry cipher
[11:47] {cipher} thx for heads up
[11:51] {dino} np
[11:53] {cipher} out .61 +.63
[11:53] {cipher} missed the top
[11:53] {cipher} wow glad I got out
01[11:54] {Threei}  lol
[11:54] {cipher} bids just disappeared
[11:54] {cipher} not funny 3i
[11:55] {cipher} like jumping into an empty pool
[11:55] {cipher} :)
01[11:55] {Threei}  how is it not funny?? :)
[11:55] {nemo} pogo sticking in a minefield
[11:56] {cipher} weird stock now back up
[12:00] {dino} always tredes freaky
[12:00] {dino} pdce hod
[12:01] {dino} jbht too
[12:09] {dptl} stopped fb
01[12:09] {Threei}  yeah
[12:10] {nemo} don't forget, this is mark-up day
01[12:11] {Threei}  why do you think I forget that?
[12:11] {nemo} just a general service announcement
01[12:19] {Threei}  can't get rid of feeling we are going to see a lot of selling today, and FB is one of those that will come crashing down
[12:20] {thomcbell} same with aig - cant catch a bid at all
[12:21] {thomcbell} but fb better - still down 2% despite all this market strength
[12:21] {dino} traditionally march and april are not the best months for longs
[12:23] {dino} spike
[12:35] {cipher} lmca l .08
[12:37] {cipher} out .30 +.22
[12:38] {cipher} now I can go to lunch :)
01[12:38] {Threei}  just don't jump in empty pools on your way
[12:39] {cipher} lol
[12:39] {dino} gj
01[12:39] {Threei}  frikin FB
[12:40] {Will49} it's toying with us
01[12:42] {Threei} Short Setup: AIG  .70 break
01[12:42] {Threei}  If holds  .80
[12:45] {thomcbell} short setup wprt 29.90 break if holding 30
[13:02] {dino} pdce sm s .55, stop hod
[13:03] {dino} well that sucked
[13:09] {dino} rinsed
01[13:21] {Threei}  ok AIG
01[13:21] {Threei}  time to die
[13:31] {Will49} stock teaser!
[13:32] {dino} zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz
[13:32] {nemo} dino dcc
01[13:32] {Threei}  slow creep up day in a stall phase
01[13:32] {Threei}  it's either sit and wait, or pick a play that has a chance, woth as low risk as possible, and give it a go
[13:33] {nemo} consolidating at lunch, spy made WPP, question is does FAS and IMW try for theirs?
[13:35] {dino} sitting and waiting for capit or spike
[13:35] {thomcbell} anybody do wprt
[13:35] {thomcbell} if so take em in here
[13:35] {Will49} wish i had
[13:36] {dino} srpt
[13:37] {dino} can't borrow
[13:40] {thomcbell} that wprt came right out of the 111 reading i did last night
[13:40] {thomcbell} c&h failure
[13:40] {thomcbell} thanks vad
01[13:40] {Threei}  you are very welcome :)
01[13:40] {Threei}  (I really need to read it)
01[13:41] {Threei}  (and pretend that I RE-read it)
01[13:51] {Threei}  "Light travels faster than sound. That is why some people seem bright until you hear them speak."
[13:51] {Will49} lol
01[13:54] {Threei}  I thought torture was illegal? Someone needs to tell AIG
[13:54] {Will49} i'm getting screen burn-in on my retinas
01[13:59] {Threei}  good boy AIG... do more of that
01[14:05] {Threei}  and faster...
01[14:05] {Threei}  I want to get to 1:1 while we are young
[14:05] {Will49} specially me
01[14:05] {Threei}  well... I'll retract that... too late for some (slanting at nemo)
[14:07] {nemo} mesodactyl
[14:08] {dino} wes drop
01[14:11] {Threei}  stop .76 AIG
01[14:11] {Threei}  no point in risking full sized stop at this point
01[14:12] {Threei}  hmmm... thnis sentence above loooks like the name of one of resorts on our island... Point No Point
[14:13] {dino} cri sm l .60
[14:13] {thomcbell} coh ugly 10 minute pattern - reverse c and h
[14:47] {dino} out cri .75, +.15
01[14:52] {Threei}  frikin GDX
[14:56] {dino} nice morning, but this afternoon is d e a d
01[14:57] {Threei}  slow climb... those ARE dead
[14:58] {dino} yeah, not my type of market
01[14:58] {Threei}  look at the volume today
01[14:58] {Threei}  comparing to selloff days of late
[14:58] {dino} low
[15:02] {dino} bsft drop
[15:07] {thomcbell} bbry explosive
01[15:10] {Threei}  no news
01[15:12] {Threei}  Facebook Reportedly expanding advertising services to third parties - TechCrunch.com- Through new partnerships with top online and offline purchase data providers Datalogix, Epsilon, Acxiom, and BlueKai, Facebook is now allowing advertisers to target hashed lists of existing and potential customers, and categories like role playing gamers or soda drinkers. This expansion of Facebooks Custom Audiences program could rake in revenue and attract businesses by matching ads to real spenders. - The four partners already work with many of the worlds biggest brands to target email marketing, direct mail, and other online ads. Now theyll be able to use the same ones to pinpoint Facebook ads. Businesses can request their data partner upload a privacy-protected, hashed list of customer or potential customer information such as email addresses. The advertiser can then target these sets of people, but dont ever know the identity of who theyre reaching.
01[15:12] {Threei}  sounds nasty
[15:14] {jdetente} uvxy is now .80 from my original entry
[15:15] {jdetente} sorry wrong window again lol
01[15:15] {Threei}  34% Say U.S. Heading in Right Direction
01[15:15] {Threei}  I didn't know that many thought right direction was over the cliff
[15:16] {dino} they are the collectors of handouts
01[15:21] {Threei}  even they can't be this blind so they don't see the end of the road, can they?
[15:22] {dino} bsft blood
[15:24] {dino} 3i yes they are blind, socialists. all equal bs
[15:25] {Will49} lots of good people out there that just have no clue about what's going on
01[15:26] {Threei}  scary isn't it
[15:27] {Will49} oh yeah
[15:27] {dino} bsft sm l .51
01[15:27] {Threei}  when their world comes crashing down, and they'll be pointed at "guilty"
[15:28] {dino} stop -.30
01[15:29] {Threei}  last try:
01[15:29] {Threei} Short Setup: GDX  .15 break
01[15:29] {Threei}  If holds  .25
[15:37] {thomcbell} short setup qcom 66 break if holding 66.10
[15:39] {dptl} have a good night all...see ya tomorrow
[15:39] {Will49} be good dp
[15:41] {dptl} i will...no shaking more then once lol
[15:41] {Will49} lol
01[15:42] {Threei}  hmmm
01[15:42] {Threei}  I don't know what to say to that
[15:42] {dptl} lol
[15:42] {Will49} silence is golden
01[15:42] {Threei}  I'll elect that, lol
[15:44] {dino} cya dp
[15:48] {dino} calling it a day, thx all, good one
01[15:48] {Threei}  take care dino
[15:48] {dino} u2 buddy
01[15:48] {Threei}  no time for GDX to trigger and work
[15:48] {Will49} see ya dino
[15:48] {dino} cya will
01[15:48] {Threei}  let's call it a day
[15:48] {Will49} fine by me
01[15:49] {Threei}  thank you all, have a good evening, see you tomorrow
[15:49] {thomcbell} qcom 1:1
[15:51] {patel} take care
[15:54] {thomcbell} bidding for entire second half on qcom at 37.80 and moving stop to 37.88
[15:55] {thomcbell} out qcom 1:2
01[15:55] {Threei}  wtg
[15:55] {thomcbell} tu - good night
[15:55] {thomcbell} all

Feb 26 2013.

Trivial day, profitable but boring, especially second half of the day. Morning was about perfect  with 5 wins out of 6, afternoon was back and forth. 


Session Time: Tue Feb 26 00:00:00 2013
[08:58] {dino} gm
01[09:01] {Threei}  dino :)
[09:04] {dino} it would be ironic if italy was the 1st to leave the euro, as all bets are on greece
01[09:07] {Threei}  well... sounds like immediate threat is off for now
01[09:07] {Threei}  too bad
[09:07] {scottie} good morning
01[09:08] {Threei}  scottie :)
[09:14] {cipher} gm
01[09:14] {Threei}  cipher :)
[09:14] {jdetente} good morning
01[09:14] {Threei}  jd :)
[09:16] {nemo} boy good money to be made trading vxx in the pre market, look at that
01[09:17] {Threei}  it's not shortable normally
[09:17] {nemo} that sucks
[09:17] {nemo} it's had great movement for such a low priced etf
[09:18] {jdetente} I took some shorts from the end of day yesterday
[09:18] {jdetente} VXX
[09:18] {nemo} I don't type like what's his name
[09:18] {nemo} Have the broker do a locate
[09:22] {Will49} gm
01[09:22] {Threei}  will :)
[09:25] {Will49} chart troubles again
01[09:25] {Threei}  yeah
[09:31] {thomcbell} looking for a jcp long setup
[09:32] {thomcbell} no
[09:32] {thomcbell} and then pow
[09:32] {thomcbell} haha
01[09:33] {Threei} Short Setup: AIG  .45 break
01[09:33] {Threei}  If holds  .55
[09:34] {cipher} STX l.50
01[09:35] {Threei} Short Setup: FCX  .50 break
01[09:35] {Threei}  .80
01[09:35] {Threei}  If holds  .90
[09:36] {jdetente} got 1:1 on AIG ty
01[09:36] {Threei}  :)
[09:38] {cipher} out stx .68 +.18
01[09:38] {Threei}  AIG 1:2, out
[09:38] {thomcbell} good stuff vad
[09:38] {thomcbell} missed it
[09:39] {Will49} good start Vad
[09:39] {cipher} aig +.16 thx
[09:39] {thomcbell} long setup qcom 65.50 break if holding 65.40
01[09:39] {Threei}  :)
01[09:39] {Threei}  FCX 1:1
[09:40] {cipher} anyone has charts on Laser?
[09:40] {Will49} no
[09:40] {nemo} wow, that's really getting bad, huh?  they have any explanation?
[09:41] {dino} vips drop
[09:43] {dino} cwh sm s .54
[09:43] {thomcbell} qcom invalid
01[09:44] {Threei} Long Setup:  LVS  .40 break hl
01[09:44] {Threei} Short Setup: LVS  .30 break hl
01[09:45] {Threei}  1:1
[09:46] {thomcbell} jcp 21.58 long break if hol.ding 21.48
[09:46] {cipher} +.43 VIPS thx dino
01[09:46] {Threei}  1:2
01[09:47] {Threei}  1:3, out
[09:47] {dino} gj
[09:47] {thomcbell} lovely lvs
01[09:48] {Threei}  FCX 1:2 close enough, out
[09:48] {scottie} fcx +.18 tks :)
01[09:48] {Threei}  I don't know why ese doesn't like downward market, it's the easiest thing ever
[09:49] {thomcbell} wow lvs 1:5
[09:50] {dino} cwh stop -.35
[09:50] {thomcbell} 1:6
01[09:50] {Threei}  I am not looking
01[09:50] {Threei}  I am not looking
[09:50] {cipher} vips l .25
01[09:50] {Threei}  I am not looking!
[09:51] {thomcbell} out jcp -.10
[09:51] {cipher} out .42 +.17
[09:53] {jdetente} jiminy christmas! LVS
01[09:53] {Threei}  charts waking up
01[09:53] {Threei}  Q3, C2
[09:54] {nemo} watch LVS for attempted bounce nearer to the whole
[09:54] {cipher} AMZN L .39
01[09:54] {Threei}  it's really time
01[09:55] {Threei} Long Setup:  LVS  .30 break hl
01[09:55] {Threei}  ummm
01[09:55] {Threei}  1:1
01[09:55] {Threei}  lol
01[09:55] {Threei}  .32 was obtainable if you had finger on a trigger
01[09:56] {Threei}  then boom
[09:56] {cipher} out AMZN .60 +.21
[09:57] {dino} cwh sm s .04
01[09:57] {Threei}  anyne got LVS?
[09:57] {scottie} no
[09:57] {jdetente} no
[09:57] {thomcbell} i got a bit
[09:57] {Will49} no
[09:58] {thomcbell} short setup fbhs 33 break if holding 33.10
[09:58] {dino} chw stopped -.23
[09:59] {dino} wtf rinsed
01[09:59] {Threei}  *(US) FEB RICHMOND FED MANUFACTURING INDEX: 6 V -4E
[09:59] {dino} f#ck!
[09:59] {thomcbell} fb possibly two sided vad
[09:59] {thomcbell} 0.95 - 0.85
[10:00] {thomcbell} lvs out 49.60
[10:00] {thomcbell} TU
01[10:00] {Threei}  *(US) FEB CONSUMER CONFIDENCE: 69.6 V 62.0E
01[10:00] {Threei}  yw
[10:00] {thomcbell} fbhs invalid obviously
[10:00] {cipher} pdce l .40
01[10:00] {Threei}  *(US) JAN NEW HOME SALES: 437K V 380KE
01[10:01] {Threei}  (US) Fed Chairman Bernanke: Benefits of asset purchases are clear, outweigh costs at this point - Senate testimony
01[10:01] {Threei}  I beg to differ
[10:01] {cipher} out pdce .68 +.28
01[10:01] {Threei}  but interesting insertion, "at this point"
[10:02] {thomcbell} holy two sided missed opportunity on fbhs
[10:06] {dino} cwh last try s .50
[10:06] {cipher} stx s .36
[10:06] {thomcbell} euro weak
[10:07] {thomcbell} bbry new low for move
[10:07] {cipher} cov .25 +.11
01[10:07] {Threei}  crap
01[10:07] {Threei}  wanted to watch BBRY for short at 13 break and forgot
01[10:07] {Threei}  13.10 was a nice entry point
01[10:07] {Threei}  let's see if we get a bounce to short
[10:08] {cipher} vips l .05
01[10:08] {Threei}  yeah right
[10:08] {dino} cov cwh .13, +.37
[10:10] {cipher} out vips .10 +.05
[10:11] {thomcbell} fb got 1:1 stop to break even on rest
[10:11] {thomcbell} almost got taken at 1:2
[10:13] {thomcbell} jcp short setup 21.39 break if holding 21.5
[10:17] {thomcbell} target jcp 21.01
[10:18] {thomcbell} jcp 1:1
[10:18] {cipher} mon s .52
[10:19] {cipher} tfm l.51
[10:21] {thomcbell} stop on jcp to 21.36 because of its being crazy
[10:22] {thomcbell} jcp 1:2
[10:22] {thomcbell} stop on balance to 21.32
[10:24] {dino} cwh sm s .76
[10:25] {thomcbell} jcp stop to 21.21
[10:25] {thomcbell} flat
01[10:25] {Threei} Short Setup: GDX  .40 break
01[10:25] {Threei}  If holds  .45
[10:27] {cipher} out TFM .95 +.44
[10:28] {cipher} cov MON .40 +.12
[10:35] {thomcbell} darn jcp target hit
[10:36] {dino} cwh stop -.10
[10:36] {cipher} lulu l .00
[10:36] {dino} and rinsed
[10:37] {cipher} lnco l .24
01[10:37] {Threei} Long Setup:  BBRY  .80 break
01[10:37] {Threei}  If holds  .70
[10:38] {cipher} out lulu .10 +.10
[10:39] {dino} elli sm l .20
[10:40] {dino} cwh sm s .62
[10:41] {cipher} SPWR L .47
[10:42] {cipher} out lnco .29 +.05
[10:43] {cipher} out spwr +.03
[10:46] {dino} cov cwh .12, +.50
[10:48] {thomcbell} bbry still valid correct Vad?
01[10:51] {Threei}  yes
01[10:52] {Threei}  never lost .70
[10:53] {scottie} half out tks Vas
01[10:53] {Threei}  :)
[10:53] {ese} morning.........i know i know....i'm late
01[10:53] {Threei}  too bad... we are having blast of a morning
[10:54] {ese} naturally..........
01[10:54] {Threei}  and Ben said everything you wanted him to say
[10:54] {ese} which was
01[10:55] {Threei}  "everything's great, economy is happy, we continue supporting it, and will do so until it dies"
[10:55] {ese} " I am your worst economic nightmare"
[10:56] {ese} it's now a reflex action with him anyway..........market is now use to selling off everytime he says something..........it's just an expected thing
[10:57] {nemo} oh great, a pontificating musician
[10:57] {ese} he has no credibility left
[10:57] {ese} lol
[10:57] {ese} oh ya oh ya!!!!!! well I represent that remark
[10:57] {nemo} go shove a zildjian up....oh nevermind
[10:58] {nemo} would probably go in easy now that I think about it
01[10:59] {Threei}  I am not sure why you tie his credibility to what he says instead of what he does
01[10:59] {Threei}  he can talk about whatever, who cares
01[10:59] {Threei}  what he does is what matters
01[11:00] {Threei}  and what he does is, flood economy with dollars created out of thin air
01[11:00] {Threei}  with no exit strategy
01[11:00] {Threei}  supporting market with this never ending money injection
[11:00] {ese} ouch.......the two of you.........may I ask who pee'd in your cornflakes this morning? hmmmmmmmm
01[11:00] {Threei}  Is it good thing he does, you think?
[11:01] {nemo} I'm pissed I had to expunge all the booze I drank before I went to bed last night because I figured I'd be massively hungover this morning
[11:02] {dino} its simply a race to the bottom. devalue, devalue, devalue. thing is the whole world has caught on so its usa vs euro vs yen, etc
[11:02] {nemo} what's scary is all the central banks have to take up the deficit spending slack, so when does someone decide to get off the fiat merry-go-round
[11:03] {scottie} out BBRY
01[11:03] {Threei}  that's when nusic stops
01[11:03] {Threei}  music too
[11:03] {nemo} that's when everything comes to a screeching halt
[11:03] {dino} good question, i don't know answer.
01[11:04] {Threei}  and the longer this lunacy continues the harder crash is going to be
[11:04] {dino} the only thing they have going for it is everybody is "all in".
01[11:04] {Threei}  but instead of gradual tightening the belt now in attempt to slide more or less easy and over time out of this quagmire, they continue pumping it up
[11:04] {nemo} that's the problem, and to try and exit, they have to remove liquidity, which automatically drives up interest rates, which raises government borrowing costs Now choose your analogy, either the Potemkin Village or the Emperor without clothes gets exposed
[11:05] {ese} lol  good one
01[11:06] {Threei}  so ese... what exactly is your beef with Ben, that he enables more borrowing and spending, or that he is not cheering enout while doing it?? :)
[11:07] {dino} i think its a grand experient with bunch of governments participating. they think if we all are printing what does it matter.
[11:08] {dino} odd thing is commodities are not reflecting it
[11:08] {Will49} everything being manipulated
01[11:09] {Threei}  my theory about that is:
[11:09] {dino} yes
01[11:09] {Threei}  easy money flow in the market, you are a beneficiary of it and decide what to inveat in,
[11:09] {ese} we've been through this before...........and it's all you against me.......he's a negative nanny........has never said anything positive yet and I don't happen to believe it's all gloom and doom.....if that was the case market and world should have been toast after the great depression
01[11:09] {Threei}  you have a choice of equities and commodities,
01[11:09] {Threei}  you know that economy is in the crapper,
[11:10] {nemo} dino arguably commodities are pricing in deflation
[11:10] {dino} i've read death of money. but if all are printing like crazy.....?
01[11:10] {Threei}  will you put money in equities which are more liquid and easier to exit when shit hnits the fan
01[11:10] {Threei}  or commodities that are more sensitive toeconomy state, less liquid and harder to get mom and pop in?
[11:11] {dino} nemo, pehaps, but that doesn't make sense w/the printing, unless they have lost the war...
[11:11] {ese} the financial world is just like bacteria ...............it simply adjusts to the latest pennicillan and carries on
01[11:11] {Threei}  IMO, you'll get in equities and create an idiotic story about "great rotation"
[11:11] {Will49} if everyone stays on the merry-go-round, it should never tip
01[11:11] {Threei}  enticing retail investor in
[11:11] {dino} but 3i, commoditites can be bought just as equities, think fcx, clf, etc...they are crushed
01[11:11] {Threei}  and that's why we see equities lift while commodities stay put
[11:11] {nemo} that's right dino
[11:12] {scottie} OKE l .75 if holds .65 ?
01[11:12] {Threei}  yes but they are less liquid
[11:12] {dino} no they are not, clf 3 million shares so far today
[11:12] {nemo} great taste less filling  great taste less fillinggreat taste less fillinggreat taste less fillinggreat taste less fillinggreat taste less fillinggreat taste less fillinggreat taste less fillinggreat taste less fillinggreat taste less fillinggreat taste less fillinggreat taste less fillinggreat taste less fillinggreat taste less fillinggreat taste less fillinggreat taste less fillinggreat
[11:12] {nemo} taste less fillinggreat taste less fillinggreat taste less fillinggreat taste less fillinggreat taste less fillinggreat taste less fillinggreat taste less fillinggreat taste less fillinggreat taste less fillinggreat taste less fillinggreat taste less fillinggreat taste less fillinggreat taste less filling
01[11:12] {Threei}  not really delighted, scottie
[11:12] {scottie} gone anyway
[11:12] {ese} rotflol!!!
[11:12] {nemo} mmhhh, that got out of hand
[11:13] {ese} now that was funny
[11:13] {nemo} that's what I said when my carbine went full-auto
[11:13] {dino} lol
01[11:13] {Threei}  you lost me ese... you again are talking about what Ben says
01[11:13] {Threei}  who cares?
[11:13] {ese} lol......now thats a good one too
[11:14] {nemo} oh boy this market looks like trap door about to drop
01[11:14] {Threei}  I am asking you whether you have a problem with what he does
[11:14] {thomcbell} jcp - come on
01[11:14] {Threei}  he is federal reserve chairman, not a cheerleader, for all I care he may not speak at all
[11:14] {ese} ya i guess so........he does nothing
[11:14] {nemo} monthly pivots 148.60ish spy 138 FAS 88.62 iwm
01[11:14] {Threei}  nothing?
[11:15] {ese} at least not that i can see anyway
01[11:15] {Threei}  $80B every month created out of thin ait
[11:15] {dino} imo 3i, ben's problem is the other governments figured out his devaluation game and are trying to beat him at it
01[11:15] {Threei}  tthis is nothing?
[11:15] {ese} lets say he's ineffective
01[11:15] {Threei}  1T a year
01[11:15] {Threei}  you are not hearing me, ese
01[11:15] {Threei}  $1T a year
01[11:15] {Threei}  how is this nothing?
01[11:16] {Threei}  and what do yiou expect him to do to be effective?
01[11:16] {Threei}  he is monetary policy chief
[11:16] {nemo} I'm not going to blame Bennie completely.  His naivete regarding Congress stepping up to the plate though was juvenile.  The only way this thing works is they get their feces assembled.  Ain't happening
01[11:16] {Threei}  can you create jobs by pure monetary plicies?
[11:17] {nemo} no, and he's pleaded with Congress before
01[11:17] {Threei}  see OKE, scottie?
01[11:17] {Threei}  trap
[11:17] {nemo} fat chance
[11:17] {dino} i think everybody/countries are all f#cked together on this, so salvation thru inflation, by printing like crazy
[11:17] {Will49} that's it
[11:18] {ese} whats it?
[11:18] {Will49} so let's make sure we're on the right side
[11:18] {Will49} everybody prints
[11:18] {dino} yes will, you and i see whats happening
[11:18] {Will49} remember..the golden rule
[11:18] {Will49} he who has the gold.....
[11:18] {ese} yup
[11:19] {dino} its a concentrated effort by governments around the world, a grand experiment
[11:19] {Will49} so, don't bet against the fed
[11:19] {Will49} hope the experiment works
[11:19] {ese} well thats true
01[11:19] {Threei}  I suspect we are nearing the end of that rule
[11:19] {Will49} all we CAN do is hope
[11:19] {Will49} and play the odds
[11:20] {dino} your tell is to watch oil, copper, iron, etc. don't worry until they move seriously
01[11:20] {Threei}  and for the first time in fed history we will see them losing control
[11:20] {ese} thats probably a good point too vad.......
01[11:20] {Threei}  they seriously overplayed their hand with this balance sheet expansion
01[11:20] {Threei}  and confidence becomes an issue
[11:20] {dino} well 3i, it is what it is. they never saw the last real estate bubble either. so were they in control then?
01[11:21] {Threei}  no, and we had nice juicy crash
01[11:21] {Threei}  so they acted
01[11:21] {Threei}  and overreacted
01[11:21] {Threei}  and pushed pendulum too far
[11:21] {nemo} limit down in the premarket, yahoooooooo!!!!
[11:21] {dino} only difference now is all major governments are printing
[11:22] {Will49} print/manipulate.....repeat
[11:23] {Will49} the sheeple don't get it and the politicians stay in power
[11:23] {dino} exactly will. no free markets. accept and play
01[11:23] {Threei}  here is what I am trying to say, before we lose the plot:
[11:23] {Will49} scottie...hope you're minding the store for us:)
01[11:24] {Threei}  with thias balance sheet expansion, Fed's ability to maintain things in order becomes an issue for many, and this will lead to bond buyers revolt
01[11:24] {Threei}  and when that happens, Fed will remain the only bond buyer
01[11:24] {Threei}  which means the end of borrowing
[11:24] {dino} perhaps, but revolt and go where?
01[11:24] {Threei}  doesn't matter, they will stop buying US bonds
01[11:25] {Threei}  and that's what matters
01[11:25] {Threei}  they don't buy it now because they like them,
[11:25] {dino} well they won't buy euro or japanese bonds. they are doing the same
01[11:25] {Threei}  they just see the prettiest gurl in uglky camp
[11:25] {dino} as is britain, etc.
01[11:26] {Threei}  they'll go cash, gold, oil, whatever
01[11:26] {Threei}  land
01[11:26] {Threei}  it doesn't matter much
[11:26] {dino} agreed, see my post above. watch oil, copper, iron, etc
01[11:26] {Threei}  what matters is, Fed won't be able to keep things running if it remains alone in bond market
01[11:27] {Threei}  that's when borrowing stops,
01[11:27] {Threei}  and massive bankruptsy comes,
01[11:27] {Threei}  at the mnicipal, state and federal level
01[11:27] {Threei}  with public spending crashing down
01[11:27] {Threei}  this is where all these idiots lead us,
01[11:27] {Threei}  and Ben enables them
01[11:28] {Threei}  and that, ese, the problem with him, not what he says while doing that
01[11:28] {Threei} Short Setup: FB  .75 break
01[11:30] {Threei}  and if you think the problem is that he is doing nothing, this is exactly the opposite. We would be much better off if he did nothing
[11:30] {dino} i can agree with that. however, you play the hand you are dealt. so it doesn't matter until it does
[11:30] {ese} I'm listening but the only thing thats going through my mind..............is................
[11:31] {ese} trade what you see.................
01[11:31] {Threei}  we are not talking about trading, we are talking abvout economy prospects
01[11:31] {Threei}  and feds role
[11:32] {ese} ya but dino is right.........we have no contral here so it doesn't matter until it happens
01[11:32] {Threei}  well, it's your beef with ben that we discuss {G}
01[11:32] {Threei}  mine is very different
[11:33] {ese} agreed
01[11:33] {Threei}  you want him to talk rosy talks and do... what is it you want him to do?
01[11:33] {Threei}  no go FB
[11:34] {scottie} out -.15
[11:34] {Will49} same
[11:34] {jdetente} my stop didn't trigger
[11:34] {jdetente} ha got out at 26.87
01[11:35] {Threei}  There may be some frothiness in markets" - Ben Bernanke
01[11:35] {Threei}  "irrational exuberance" anyone?
[11:36] {Will49} that bastard
[11:36] {ese} will be back.......am on the phone to Iceland
[11:36] {Will49} lol
01[11:36] {Threei}  IB servers crapping out
[11:36] {Will49} wish the self-servers would too
01[11:36] {Threei}  it seems there is some underlying prolem at the level deeper than laser lately
[11:37] {Will49} it's bernake
01[11:37] {Threei}  last couple weeks or so, a lot of reports from different vendors
[11:38] {dino} lol will
[11:38] {Will49} :)
[11:39] {dino} nemo, db going to fill that 44.30 gap?
[11:40] {jdetente} freakin FB
[11:40] {nemo} I would think, looks like market in general is going lower
[11:40] {nemo} should take it with them
01[11:40] {Threei}  Bernanke urged the Congress to replace the sequester cuts with more nuanced and gradual spending reductions.
[11:41] {thomcbell} aig 37.03 short break
01[11:41] {Threei}  you remember hopw much are those sequester cuts?
[11:41] {thomcbell} just tested downtrend line intraday
[11:41] {dino} not even meaningful
01[11:41] {Threei}  44B
01[11:41] {Threei}  and even this drop in the ocean is a problem?
[11:42] {dino} term limits 3i, the only answer
[11:42] {Will49} amen
01[11:42] {Threei}  fat chance...
[11:43] {Will49} for sure
[11:43] {Will49} so, pretty bleak outlook
[11:43] {Will49} no leadership
[11:43] {Will49} just brinkmanship
[11:45] {thomcbell} aig 1:1
01[11:45] {Threei}  wtg
01[11:47] {Threei} Short Setup: FCX  .40 break
01[11:47] {Threei}  If holds  .50
[11:51] {thomcbell} aig flat second half
[11:51] {thomcbell} break even
01[11:51] {Threei}  FCX invalidated for now but on a radar
[12:08] {dino} cwh sm s .04
01[12:10] {Threei}  By now, the Keystone XL Pipeline has been under govt review longer than it would have taken to build it
[12:10] {dino} who is john galt?
[12:13] {Will49} we need more shrugging
01[12:13] {Threei}  (DE) German Gov't Econ Advisor Feld (one of the 'wisemen') said to have warned that Italy election results could bring back the eurozone crisis "with a vengance"
[12:13] {Will49} will bring back bunga bunga too
01[12:13] {Threei}  lol
01[12:13] {Threei}  really
01[12:14] {Threei} Short Setup: FCX  .50 break
01[12:14] {Threei}  If holds  .60
01[12:14] {Threei}  LOL:
01[12:14] {Threei}  (GR) Greece Syriza Party leader Tsipras: Growth policies from Samaras are 'anti growth'
01[12:15] {Threei}  I can see them arguing... "you growth!"
01[12:15] {Threei}  "no, you growth!"
01[12:17] {Threei}  ok, to kill 1 min more, paste this in google search line and hit enter:
01[12:17] {Threei}  5 + (sqrt(1-x^2(y-abs(x))^2))cos(10((1-x^2-(y-abs(x))^2))), x is from -1 to 1, y is from -1 to 1.5, z is from 1 to 6
01[12:17] {Threei}  incredible how people come up with these things
[12:18] {dino} cov cwh .64, +.40
[12:21] {jdetente} FCX broke .60 but do we still want to go for it it if breaks below .50?
01[12:22] {Threei}  I think so
01[12:22] {Threei}  looks right
[12:23] {jdetente} ok thanks
01[12:31] {Threei}  let's trail to .56
01[12:31] {Threei}  things look a bit random
01[12:32] {Threei}  out
[12:37] {nemo} http://www.youtube.com/watch?v=HbPDKHXWlLQ
[12:39] {jdetente} http://fc05.deviantart.net/fs71/f/2011/032/e/4/llama___napoleon_dynamite_by_brutalbic1-d38jbb8.jpg
01[12:44] {Threei} Short Setup: GLD  156 break hl
01[12:44] {Threei}  If holds  .10
01[12:48] {Threei}  grrr
[13:07] {dino} uthr sm l .91
01[13:21] {Threei}  was torn about FCX short at .80... too bad
[13:31] {dino} out uthr .21, +.30
[13:32] {nemo} chop chop chop chop chop
[13:39] {dino} wow, cut that uthr too soon
[13:46] {nemo} kors C&H
[13:46] {nemo} sounds too much like urethra, so using the word cut in the same sentence is rather.....uncomfortable
01[13:51] {Threei}  (IT) Consob market regulator bans short selling in Italy stocks of Banco Popolare and Mediolanum starting Wednesday
01[13:51] {Threei}  amazing
[13:52] {Will49} order from the Pope
[13:52] {dptl} good afternoon
[13:53] {dino} cwh spike
[14:01] {thomcbell} bbry back from the dead i see
01[14:02] {Threei}  eeh
01[14:02] {Threei}  zombie
[14:11] {dino} lol nemo, i just read your uthr comment
[14:20] {nemo} slw looks interesting
[14:20] {nemo} glad you liked it dino
01[14:32] {Threei} Short Setup: AIG  .60 break
01[14:33] {Threei}  If holds  .65
01[14:34] {Threei}  meh
01[14:39] {Threei} Short Setup: BBRY  .10 break
01[14:40] {Threei}  If holds  .20
01[14:45] {Threei}  1:1
[14:45] {scottie} out +.09 tks Vad
01[14:45] {Threei}  yw
[14:46] {dino} out elli .36, +.16
[14:59] {nemo} anybody take kors, coming up on $1
[15:02] {dino} no
[15:03] {nemo} well, slw didn't pan out anyway
[15:06] {dino} suss drop
[15:07] {dino} expd drop
[15:09] {Will49} gotta leave a little early today; good luck all
[15:09] {dino} cya will
01[15:09] {Threei}  take care will
[15:09] {dino} fcfs drop
[15:17] {dino} sm l .60 stop .48
01[15:21] {Threei} Short Setup: BBRY  13 break
01[15:21] {Threei}  If holds  .10
[15:23] {dino} dlph spike
[15:30] {dino} wtf, hard stop slippage. stop was 53.19, slipped to 52.94. bohica
[15:30] {dino} fcfs that was
[15:30] {nemo} KY dino?
[15:30] {dino} unfortunately, no
[15:30] {dino} thats the worst slip i've had in months
[15:31] {scottie} KY ?
[15:31] {nemo} didn't we warn you about trading like dino?
[15:31] {dino} kind of hard not to trade that way
[15:32] {nemo} poor scottie
[15:32] {dino} that slip cost me over $100
[15:33] {nemo} and you call yourself a trader
[15:34] {nemo} wow, that's a helluva bid pull
[15:36] {dino} ok, with that f'job, calling it a day. decent one overall, aside from the slip and 2 a.m. rines
[15:36] {dino} rinses
01[15:36] {Threei}  take care dino
[15:36] {scottie} dino
01[15:36] {Threei}  BBRY half out
01[15:37] {Threei}  time becomes an issue
01[15:37] {Threei}  1 cent to 1:1, gotta preserve some profit
[15:37] {dino} gn
[15:44] {nemo} looking at setups we're going higher tomorrow, bet job numbers are good
01[15:47] {Threei}  ah, who knows
01[15:47] {Threei}  Bunga bunga says overnight he wants to go back to polls, we open -300
[15:47] {nemo} nah
01[15:53] {Threei}  OK guys, thank you all
01[15:53] {Threei}  have a good evening, see you tomorrow
[15:55] {scottie} gn all
[15:55] {patel} gn
[15:55] {jdetente} gn