Oct 22 2012

Rough start with 3 rinses and one win, then a few winning trades took a sting out of the morning but still finished a bit negative by my count. Some did better depending on which of my trades they missed, lol.

Session Time: Mon Oct 22 00:00:00 2012

[09:01] {nemo} I have entered

01[09:01] {Threei}  clap clap

[09:14] {Beau} good morning

01[09:14] {Threei}  beau :)

[09:15] {scottie} good morning

01[09:16] {Threei}  scottie :)

01[09:17] {Threei}  I hope everyone got my call at 3:58 on Fri to buy CASC overnight

[09:19] {dino} gm

01[09:19] {Threei}  dino :)

[09:19] {Will49} gm

01[09:19] {Threei}  will :)

[09:20] {Will49} didn't get you call

[09:21] {Will49} your

[09:21] {scottie} would have been great :)

01[09:23] {Threei}  [15:58] {Threei} ATTENTION: sell your farm, your kidney, wife and kids - and buy CASC for over-weekend hold with all you've got

[09:24] {thomcbell} fcx down on earnings

01[09:25] {Threei}  lowered guidance

01[09:25] {Threei}  earnings OK, revenue down

[09:26] {Beau} no got.  still have farm

[09:29] {cipher} gm

01[09:29] {Threei}  cipher :)

01[09:30] {Threei} Short Setup: FCX  .15 break hl

01[09:30] {Threei}  If holds  .25 

01[09:30] {Threei}  no go

01[09:33] {Threei} Short Setup: SLW  .40 break

01[09:33] {Threei}  If holds  .50 

01[09:34] {Threei}  change to .50 break

01[09:34] {Threei}  If holds  .55 

01[09:34] {Threei}  Invalidated  

01[09:35] {Threei} Short Setup: SBUX  .40

01[09:35] {Threei}  If holds  .50 

01[09:37] {Threei}  grr

01[09:37] {Threei} Short Setup: LVS  .20 break

01[09:38] {Threei}  If holds  .30 

01[09:38] {Threei}  SBUX rinse

01[09:39] {Threei}  let's trail LVS to .26

01[09:39] {Threei}  should be dropping faster with this SPY drop

[09:40] {thomcbell} fcx definitely has some fight 

01[09:40] {Threei}  not liking this morning

01[09:44] {Threei}  another rinse

[09:44] {thomcbell} short setup slw - 39.70 break if holding 39.80

01[09:45] {Threei} Long Setup:  BTU  29 break hl

01[09:46] {Threei}  If holds  .90 

01[09:46] {Threei}  1:1

01[09:46] {Threei}  1:2, out

[09:46] {scottie} of course, missed that one

[09:46] {scottie} :(

[09:46] {Will49} me too

01[09:48] {Threei} Long Setup:  CAT  .50 break hl

01[09:48] {Threei}  If holds  .40 

01[09:49] {Threei}  target 1:3

01[09:49] {Threei}  come on

01[09:49] {Threei}  what the deuce

[09:50] {scottie} rinse festival this morning

01[09:51] {Threei}  no kidding, third one

01[09:51] {Threei}  1:4

[09:52] {Will49} humbling

[09:52] {thomcbell} good one Vad

[09:52] {thomcbell} fcx a beast no w

[09:53] {nemo} so cat was bought right back up

01[09:58] {Threei} Long Setup:  LVS  45 break

01[09:58] {Threei}  If holds  .90 

01[09:59] {Threei}  1:1

01[10:00] {Threei}  1:2, out

[10:00] {scottie} finally, +.19 tks Vad :)

01[10:00] {Threei}  :)

[10:00] {Will49} tks Vad...good one

[10:00] {robbers} out, thanks.

01[10:01] {Threei}  welcome

01[10:02] {Threei}  nothing like 3 rinses in a row

[10:02] {nemo} guess earnings were priced into cat

[10:03] {nemo} o.k. c u l8tr

[10:03] {thomcbell} they did a good job of managing the street 

01[10:04] {Threei}  break a leg nemo

01[10:04] {Threei}  wow BTU

01[10:08] {Threei} Short Setup: FCX  .10 break hal

01[10:08] {Threei}  hl

01[10:08] {Threei}  If holds  .20 

01[10:09] {Threei}  target 1:3

01[10:10] {Threei}  1:1

[10:11] {thomcbell} thing is amazingly jumpy 

01[10:16] {Threei}  1:2

[10:16] {robbers} out, thanks again.

01[10:16] {Threei}  :)

[10:16] {robbers} Nice recovery, Vad, from a slow start.

01[10:16] {Threei}  held .10 trail twice perfectly

01[10:17] {Threei}  need couple more like this to return to my normal state of wistling thoughtlessly

01[10:18] {Threei}  1:3 target hit, out

01[10:18] {Threei}  whew

01[10:18] {Threei}  took its sweet time but worked like charm

[10:19] {Will49} tks Vad 

01[10:19] {Threei}  welcome sir

[10:20] {Will49} ooooh..so formal:)

[10:20] {scottie} sti s .60 ?

01[10:20] {Threei}  I think so

01[10:20] {Threei}  let me take my tux off will...

01[10:21] {Threei}  where is my trading tutu...

[10:21] {Will49} lol

[10:23] {scottie} too fast

[10:24] {scottie} What's the technical word for it ? , oh yes... grrrr

01[10:24] {Threei}  right

01[10:29] {Threei}  good spot anyway

01[10:29] {Threei} Long Setup:  CAT  85 br\eak

01[10:29] {Threei}  hl

01[10:30] {Threei}  Invalidated  

[10:32] {scottie} asml l .65 if holds .55 ?

01[10:33] {Threei}  .60 rather

[10:35] {scottie} in .60

[10:36] {scottie} stop .52

[10:39] {scottie} out

[10:52] {scottie} bbt s .45 ?

01[10:53] {Threei}  a bit too narrow...

[10:53] {scottie} tks

01[10:53] {Threei}  chart is right, just not sure about potential

[10:56] {scottie} asml, another rinse

[10:57] {scottie} will give a try, bbt in .44

[10:58] {scottie} stop .56

01[11:02] {Threei} Long Setup:  CAT  .50 break hl

01[11:03] {Threei}  If holds  .40 

01[11:03] {Threei}  target 1:2

01[11:03] {Threei}  1:1

01[11:04] {Threei}  1:2, out

[11:04] {scottie} missed again

01[11:04] {Threei}  OK... one win left till I feel good about today

01[11:05] {Threei}  wow, how? it returnined to pick up late passengers

[11:05] {Will49} I missed too

[11:05] {scottie} misread you and was waiting for .60, when I realized, was too late :(

[11:06] {Will49} I reall have to get onto MIRC

[11:06] {Will49} Was already .08 above break when it hit my screen

[11:06] {scottie} msft inverse H&S l .20 ?

01[11:07] {Threei}  for a scalp, yes

01[11:07] {Threei}  Will... you still on mibbit?

[11:07] {Will49} yeah

[11:11] {goryl} Vad, is ur first trade of the day always a hl?

01[11:11] {Threei}  most often

01[11:11] {Threei}  opening volatility

[11:12] {_1zach4} at 1:1 do you typically take 1/2 off, move your stop to b/e or both?

01[11:12] {Threei}  both

01[11:12] {Threei}  http://www.realitytrader.com/tradingroom/#instructions

[11:13] {_1zach4} thx Vad

01[11:14] {Threei}  sure

[11:18] {_1zach4} I tried MIRC, but every time I join #discussions and #floor it says I am banned 

[11:19] {Will49} Have followed the instructions perfectly half dozen times and can't get in

[11:19] {goryl} I need to regroup.. I've been scalping since the beginning of the month with with 100 shares and i'm trending in the wrong direction:)

01[11:20] {Threei}  zach, it's wrong username or password then... if you connect via mibbit, same credentials will work with mirc

01[11:20] {Threei}  goryl... meaning, taking 1:1 every time?

[11:20] {goryl} yeah

01[11:21] {Threei}  well, many trades are aimed at bigger moves...

[11:21] {_1zach4} yeah just tried again, says address is banned when I try to join #discussions

[11:21] {goryl} but i don't do hl since the limit is 100 so i might have to bump it up to 200 shares and take hl

01[11:21] {Threei}  cutting them down prematurely will influence your performance negatively

01[11:21] {Threei}  right

01[11:22] {Threei}  I removed ban manually, zachm, try again

01[11:22] {Threei}  make sure password is correct

[11:22] {_1zach4} ahh thank you

[11:23] {dino} lulu hl l .35

01[11:23] {Threei}  wrong password

[11:23] {_1zach4} yeah need to fix that, but now i'm on MIRC

01[11:24] {Threei}  will... let's try it via backdoor

[11:24] {Will49} let's wait until noon lull

[11:24] {scottie} want us to leave you alone ?

01[11:24] {Threei}  I will gather correctly configured files for mirc and send them to you

[11:25] {dino} lol

01[11:25] {Threei}  so you just put them in mirc directory

[11:25] {Will49} tks

[11:29] {goryl} Vad, on a down days where i get 3 stops in a row, i would reduce my following trades to hl.  On plus days, after i get 3 wins, i continue playing but with hl.  Good strategy?

01[11:29] {Threei}  firast part yes

01[11:29] {Threei}  second, why?

01[11:29] {Threei}  continue until your winning streak is interrupted

01[11:30] {Threei}  then slow down

[11:30] {goryl} ok, makes sense:)

[11:31] {goryl} i think too much about not losing:) and reduce my profit on winning days

[11:31] {Will49} my issue also goryl

[11:42] {dino} ot lulu .87, +.52

01[11:42] {Threei}  wtg

[11:42] {dino} ty

01[11:42] {Threei}  Indices Flatline in Listless, Low-Volume Trading

01[11:42] {Threei}  - US trading has been a bit choppy this morning as volumes remain below average and the VIX index heads higher. Caterpillar's downbeat quarterly report put some pressure on US indices this morning, although shares of CAT are back in positive territory in midmorning trade. Note that the VIX popped out to its highest level in more than six weeks.

[11:55] {dino} elli going for gap?

[11:56] {dino} ioc hl l .99

01[11:56] {Threei}  looks like

01[11:56] {Threei}  will, check e-mail pls

[11:56] {Will49} got it tks Vad

01[11:58] {Threei}  let's see if it works this way

01[11:58] {Threei}  we may have different ersions of mirc but that shouldn't be a problem, easy to correct

[12:00] {dino} elli hl l .83

[12:05] {dino} out ioc .95 -.04

[12:08] {dino} bbt l .51

01[12:08] {Threei} Long Setup:  GM  .50 break

01[12:08] {Threei}  If holds  .45 

01[12:08] {Threei}  just a scalp

[12:09] {dino} ioc sm l .73

[12:16] {dino} out elli .11, +.27

[12:18] {dino} half out ioc .17, +.44

[12:22] {dino} out remaining ioc .14

01[12:25] {Threei} Long Setup:  CAT  .15 break hl

01[12:25] {Threei}  If holds  85 

01[12:26] {Threei}  nope

[12:26] {dino} back in hour or so, hard stop on bbt at .39

01[12:31] {Threei}  how did it go will?

[12:31] {Will49} Sent you an email

[12:32] {Will49} I think I need one of those rent-a-nerds to do it for me:)

01[12:36] {Threei}  replied

[12:52] {scottie} cstr s .05 aggressive for 43 break ?

01[12:52] {Threei}  yikes, spread

[12:53] {scottie} I see it, ok

[13:00] {scottie} spread better, in .04

01[13:00] {Threei}  ummm

01[13:00] {Threei}  better? :)

01[13:00] {Threei}  it's very jumpy

[13:00] {scottie} was at that time, lol

01[13:07] {Threei}  will is almost there

01[13:08] {Threei}  Who Will Win? 51% Say #Obama, 39% #Romney

[13:10] {scottie} Half out

[13:12] {Will49} I'm back on Mibbit:(

01[13:13] {Threei}  you connect with incorrect password

01[13:13] {Threei}  so it kicks you out

[13:13] {Will49} same password I use for mibbit

01[13:13] {Threei}  unlikre previous attemots, this time it takes you to the right server,

[13:14] {Will49} yes

01[13:14] {Threei}  and kicks out upon attempot to connects

01[13:14] {Threei}  to connect

[13:14] {Will49} yes

01[13:14] {Threei}  that happens only with incorrect username or password

01[13:14] {Threei}  now, notive that it says "banned"

[13:14] {Will49} yes

01[13:14] {Threei}  that hapopens when you connect, get kicked out, and try to connect again right away

01[13:15] {Threei}  there is time interval for a sefrver to clear ban after first unsuccessful atempt

01[13:15] {Threei}  about 1-2 min

01[13:15] {Threei}  so even if you correct the password, it won't let you in if you do it right away

[13:16] {Will49} I waited longer than that between attempts

01[13:16] {Threei}  try this:

01[13:17] {Threei}  after it kicks you out, do NOT close mirc, wait couple min,

01[13:17] {Threei}  then type in the lower lime /login

01[13:17] {Threei}  it will offer you a prompt for username and password again

01[13:17] {Threei}  enter both

01[13:17] {Threei}  make sure no caps lock is on etc

[13:20] {Will49} Ok one more once and then into the "too hard" box it goes:)

[13:23] {cc_8} if will is using irc did he put the required command line in /perform?

01[13:24] {Threei}  he is trying to connect right channels, so I'd think yes

01[13:26] {Threei}  well?

[13:26] {cc_8} will did you put the password command in your perform area of irc?

[13:26] {Will49} When I typed in "login" said I'm not on a channel

01[13:27] {Threei}  did you type login or /login?

[13:27] {Will49} just login

01[13:27] {Threei}  :)

01[13:27] {Threei}  slash is command

01[13:27] {Threei}  without slash it's kust blabbering :)

[13:27] {Will49} thought /login was one of you fat finger slips

01[13:27] {Threei}  nope

[13:27] {Will49} :)

[13:28] {Will49} ok my bad

[13:28] {Will49} trying again

[13:30] {robbers} Will, if it makes you feel any better, I had a hard time getting it set up, too.  But it's worth it.

01[13:30] {Threei}  he is not here

01[13:30] {Threei}  he is in syberspace

[13:30] {scottie} cstr out in full + .19

01[13:30] {Threei}  trying to blast his way in

01[13:31] {Threei}  wtg

[13:31] {robbers} nice, scottie.

[13:31] {scottie} ty

[13:34] {Will49} Same old same old

01[13:34] {Threei}  ?

[13:34] {Will49} #discussions unable to join channel (address is banned)

01[13:35] {Threei}  I don't get it

[13:35] {Will49} and; local host: unknown (96.54.162.123)

[13:35] {dino} .

[13:35] {robbers} Will, I had a hard time, too, keep trying, you'll get it.

[13:35] {Will49} Well, I don't get it either so let's just go on with Mibbit

[13:36] {Will49} hanks for the support everybody

[13:36] {Will49} thanks

[13:39] {cc_8} wil

[13:39] {cc_8} will

[13:39] {cc_8} if you want me to remote in and assit

[13:39] {cc_8} i can

[13:40] {Will49} Thanks CC but I don't want to screw around with this at the expense of missing Vad's alerts

[13:41] {Will49} Can we do it tomorrow during the noon lull?

01[13:41] {Threei}  what do we have now?? :)

[13:55] {scottie} ge forming inverse C&H ?

[13:57] {will49} sup

01[13:57] {Threei}  hmmm

01[13:57] {Threei}  GE could be... slow

01[13:58] {Threei}  how many wills do we have now and who is real one?

[13:58] {will49} quit

01[13:59] {Threei}  is it will or clone?

[13:59] {will49} its will

[13:59] {will49} im fixing it

[13:59] {will49} cc_8 reporting out

01[14:00] {Threei}  anyone else is confused or it's just me?

[14:01] {cc_8} hi will

[14:01] {cc_8} you made it

[14:01] {cc_8} now everything is thru irc

01[14:01] {Threei}  WOOOHOOOO

01[14:01] {Threei}  big round of applause for cc_8

01[14:02] {Threei}  what was the problem?

01[14:06] {Threei}  GE is trying to trigger

[14:07] {scottie} in aggressive at .26

[14:07] {scottie} low of day

[14:07] {scottie} stop .36

01[14:09] {Threei} Long Setup:  TEST 

01[14:09] {Threei} Short Setup: TEST 

01[14:20] {Threei} Short Setup: TEST 

[14:22] {robbers} I'm plus 3 on the tests.

01[14:22] {Threei}  wtg

[14:24] {cc_8} Setup

[14:24] {cc_8} setup

[14:24] {cc_8} SETUP

[14:24] {dino} ioc sm l .70

[14:25] {scottie} I set up mirc to play big ben chimes everytime the word setip prints. You guys will drive me crazy, lol

[14:25] {will49} sorry

[14:25] {will49} i want the same 

[14:26] {dino} \ceb hl l .33

[14:26] {will49} setup

[14:26] {scottie} damn

01[14:26] {Threei}  lol

[14:26] {will49} cooly

[14:27] {cc_8} cooly

[14:27] {cc_8} cooly

[14:27] {cc_8} cooly

[14:27] {will49} cooly

[14:28] {cc_8} cooly

[14:28] {cc_8} last test

[14:28] {cc_8} Setup

[14:29] {scottie} yeah, great :)

[14:29] {cc_8} works good

[14:29] {cc_8} thanks

[14:29] {scottie} works fine tks

[14:30] {will49} Thaks for putting up with all this you guys

[14:30] {will49} and special thanks to CC for his patience

[14:31] {cc_8} np

01[14:31] {Threei}  you wanted geek squad to help :)

[14:31] {will49} got ot in spades

[14:31] {will49} it

[14:33] {dino} out ceb .73, +.40

01[14:33] {Threei} Long Setup:  CAT  .60 reak

01[14:33] {Threei}  If holds  .45 

01[14:34] {Threei}  come on, not another rinse

01[14:36] {Threei}  sigh

[14:38] {scottie} Vad, what was the setup on CAT ?

01[14:40] {Threei}  trend continuation

01[14:40] {Threei}  followed SPY, but SPY changed its mind and reversed

[14:41] {scottie} tks

[14:49] {scottie} ncr l .50 ?

01[14:50] {Threei}  or .40 short... market-dependent

[14:50] {scottie} tks

[14:53] {scottie} in .38

01[14:59] {Threei}  looks good

01[15:00] {Threei}  looks better

[15:00] {scottie} almost got to 1:1

01[15:06] {Threei}  MNST, what a beating

01[15:07] {Threei}  dino, looked at it any?

[15:08] {scottie} ge stopped

[15:09] {dino} mcy drop

[15:09] {dino} sm l .06

[15:10] {scottie} half out ncr

[15:10] {scottie} stop .41

01[15:11] {Threei}  looks beautiful

[15:11] {will49} Is it usual that mIRC disconnects and reconnects automatically?call

01[15:11] {Threei}  no

01[15:11] {Threei}  it shouldn't

[15:11] {will49} Mines doing it every ten minutes

01[15:11] {Threei}  it's ping timeout

01[15:12] {Threei}  not sure if there is a setting somewhere to prevent it

01[15:12] {Threei}  mine never does it

[15:12] {thomcbell} doesnt happen to me either

[15:12] {will49} CC?

[15:14] {dino} never happens to me

[15:14] {cc_8} hi

[15:14] {cc_8} let me check

[15:14] {cc_8} get back on teamview will

[15:15] {scottie} bc s .80 ?

01[15:16] {Threei}  market bounces right now

01[15:16] {Threei}  if BC stays close to low, yes when market reverses

[15:16] {scottie} ok

[15:17] {will49} OK CC on Teamviewer

[15:18] {Beau} dino, what triggered your mcy l? 1st green bar?

[15:19] {will49} CC  id 506808397 pw:1848

[15:21] {will49} CC..let's do this after close

01[15:21] {Threei} Long Setup:  LVS  .85 break

01[15:21] {Threei}  If holds  .80 

[15:21] {scottie} in bc .79

01[15:21] {Threei}  aggressive for .90

[15:23] {cc_8} trade first will

[15:24] {cc_8} tell me when ur ready

[15:27] {dino} beau, 2nd drop higher low

[15:27] {Beau} vol come into it?

[15:28] {dino} not really as the drop was the volume

[15:28] {Beau} gottcha and thx

01[15:28] {Threei}  push LVS

[15:29] {thomcbell} wheres the 2x4 Vad

01[15:30] {Threei}  here ir comes

[15:31] {thomcbell} now nice cup and handle 

01[15:32] {Threei}  just a little help by SPY and it has to iksplode

01[15:35] {Threei}  half out

[15:36] {thomcbell} nice one - thanks Vad 

01[15:36] {Threei}  not bad for 5 cents risk

[15:36] {thomcbell} i have to run - see u guys tomorrow

01[15:36] {Threei}  3 lots

01[15:36] {Threei}  take vcare tbell

01[15:36] {Threei}  out in full

01[15:40] {Threei}  a bit too soon

01[15:40] {Threei} Short Setup: FCX  .35 break\

01[15:40] {Threei}  If holds  .40 

01[15:41] {Threei}  only these 5 cent risk plays this close to eod

[15:42] {will49} tks Vad 1:2

01[15:43] {Threei}  on LVS?

[15:43] {will49} yes

01[15:43] {Threei}  :)

01[15:43] {Threei}  you should be getting alerts in time now

01[15:43] {Threei}  somehow it feels like your mibbit qwas slower than most

[15:43] {will49} yes, much better with sound alert

[15:44] {will49} Let's hope it was mibbit and not me

01[15:44] {Threei}  well, as excuses re being eliminated, pressure grows :)

[15:45] {will49} :)

[15:45] {will49} CC ...still kicking in and out

[15:45] {dino} out ioc .94, +.24

01[15:45] {Threei}  will49 Quit (Ping timeout: 121 seconds)

01[15:46] {Threei}  yeah

[15:46] {dino} out mcy .30, +.24

01[15:46] {Threei}  nice

[15:47] {dino} ty

[15:47] {dino} calling it a day. thx all

01[15:47] {Threei}  take care dino

[15:47] {Beau} thanks for explaination dino

01[15:48] {Threei}  wins after the morning start took most of the sting out but still finishing a bit negative

[15:48] {dino} anytime beau.

[15:53] {will49} Tks vad, nice positive day for me

01[15:53] {Threei}  cool

01[15:53] {Threei}  you must have missed some of my losers :)

[15:53] {will49} Maybe I missed the losses while playing with mIRC :)

01[15:54] {Threei}  no, they occured in the morning mostly

01[15:54] {Threei}  thank you all, we will get them tomorrow

[15:54] {scottie} gn all

[15:54] {will49} See you boys

Nemo's Findings week of 10/21/2012

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

The week that was:

10/16/2012:

Well, we got the bounce I thought we would from yesterday's post.  Retail sales up strong signaling a strong consumer.  Manufacturing down. Market bought the consumer news and ignored the bad manufacturing.  

The market opened higher, sold off to support then moved significantly higher, retracing initial gains to fib levels and then ran to close pretty much at the highs for the day.  Looks like more to go tomorrow.  Downward trend lines in IWM and SPY still intact on the daily.  IWM finished at the Weekly Pivot point  SPY the proverbial "hair" above the Monthly Pivot.  Earnings earnestly embark this week (o.k. that perhaps was a stretch), so we'll begin to get a feel for performance and outlook.  The rubber is about to hit the road.  I do think, with a few pullbacks here and there, the long-term looks up in general, but let's see what Congress does the first of the year.


10/17/2012 :

 

Goldman blows away there numbers end up down.  Economic news is mixed with inflation showing up (ex that stuff like food and oil that doesn't count).  thinking this is just a technical move until the decisions on the results of earnings forge a market direction, which I think will be up.  Having said that...  Intel, IBM, an CSX reported after the close, and they were tepid in their results, so the question will be how they trade tomorrow.  We're still early in the earnings season, so, if they BTFD! if there is a dip, all systems go...

 

As we can see, biggest percentage gain was in the SPY that basically bounced off WR1 to finish near the highs.  The Qs met resistance at the WR1 as did the IWM, with financials taking up the rear(looks big, but that's FAS. The unleveraged IYF was up .66%-nothin' to shake a stick at mind you)  

I think stop hunting above 146 is in order for tomorrow. 

 

10/18/2012:

Eco news:

Some bad news on the jobs front, but good news on the manufacturing front keeps the majority of the indexes flat for the day, except for the GOOG oops that caused the Qs to drop to the Weekly Pivot.  Primarily range bound activity absorbing this weeks up move so far.

 

10/19/2012: 

Eco news:

Housing came in stronger than expected, but the pall of the GOOG earnings cast a long shadow over the market.  Albeit, most of the poor performance was due to the Motorola division, it looks like GOOGs ad revenue growth rate is starting to slow.  Add that to the hiccup in earnings for many of the belleweather stocks so far, all eyes look to AAPL next week, which looks destined to reach $600 fairly shortly.

As we can see demarcated support levels supported the drop today, which would make sense.  Shorts were covering, although not exceptionally strongly, at the end of the day.  Remember OP EX week, so nothing is at it seems. 

On the dailies:
The Qs, of which AAPL is 13% are headed for the 200SMA at 65ish.  just above that around 65.35 is fib confluence as well as price action support

IWM bottomed at significant Fib confluence today, but could have the 200SMA in it's sights in  the 80.40ish area.

SPY is just below the 50SMA with next major support at 142.20

The financials haven't even broken the upward trend line yet, although they could do that Monday

The week that is:

 

The 200 is coming up around 80.45, which corresponds to the August breakout level. below that there is no gap until the 77.65 level, which is also a volume vacuum.   We now have some significant overhead volume between 83.55 (the top of the Friday gap) and 83.75ish.

 

The Qs are coming into 65.25 support, which is also a gap area down to volume support at the bottom of the gap around 64.40.  One could expect a bounce here, but the tell is aapl earnings.  There is also Fib confluence at the 65.40 area.  The 200 sma is at 64.96 with the 50 overhead at 68.40

SPY looks like it will be testing the lows from October, then possibly trend support currently around 142.  Gap low of 141 is next with volume support in the 140.40 area.  Overhead volume resistance in the 144.30 area with a descending trend line around 146.40. 

 

Nothing looks bounce ready.  As I said, financials haven't even broken their upward trend line yet.  However bonds do look stronger in all durations, which is normally negative for equities. The only sector that looks strong, is gold miners.

Market Week Wrap-up

TradeTheNews.com Weekly Market Update: Focus Shifts from Euro Crisis to Fiscal Cliff


- Earnings season dominated US markets this week as investors digested results from rest of the big banks and some weak numbers out of the tech sector. A constant theme heard from corporate executives was gloom about the possibility the US could go over the fiscal cliff as Washington continues to twiddle its thumbs before the election, with negative psychological implications for the struggling economic recovery. Meanwhile the situation in Europe appears to have calmed further this week, despite no new breakthroughs. Leaders gathered in Brussels for the European summit agreed on a very basic outline for establishing a euro zone banking supervisor. As previously framed, the plan puts the supervisor under the auspices of the ECB and assumes a legal framework will be in place by the end of 2012, and leaders agreed that the ambitious start date should be pushed farther back into 2013, though many other questions about the bank union remain unanswered. The big headline on the continent this week came from Moody's, which affirmed Spain's sovereign rating at Baa3, the lowest level of investment grade. Many market watchers had expected Moody's to cut Spain to junk status, but the rating's firm rationale for affirming the sovereign rating was the impact of the extraordinary EMU and ECB support mechanisms being put in place. Yields on Spanish government debt fell to seven-month lows following Moody's announcement and yields on the debt of other crisis countries contracted as well. In the US, September data showed retail sales advanced for the third consecutive month and existing home sales kept up, with the slight decline from the two-year highs in August, numbers explained as resulting from tight home supplies, not a lack of buyer interest. Gold racked up a two-percent decline this week, its biggest weekly drop in nearly four months, driven in part by some late-week dollar strength and equity market weakness. For the week the DJIA eked out a 0.1% gain, the S&P500 rose 0.3%, but the Nasdaq fell 1.3%, as the tech heavy index fell for the fourth week in the past five.

- Data out this week helped remove some of the uncertainty related to the China economic slowdown, offering a less bleak picture of the so-called managed landing. China's Q3 GDP did in fact fall to a fresh 3.5-year low at 7.4% - in line with consensus - but subsequent commentary reinforced perceptions of Q4 tracking stronger. On the flip side, September industrial production rose for the first time in four months while retail sales growth was a full point above expectations at 14.2%. The National Bureau of Stats (NBS) said growth stabilized and reiterated its 7.5% GDP objective for this year. An NBS spokesperson noted that upward CPI pressures still exist and highlighted easing actions by Western central banks. This latest set of comments and economic data will increasingly bolster expectations of PBoC on hold for a more extended period; it last moved the RRR in May and hasn't touched one-year rates since July.

- Goldman Sachs' Q3 was excellent: revenue doubled y/y and the firm saw good growth in the investment banking business. Citigroup, Bank of America and Morgan Stanley all reported decent results that were substantially aided by DVA (debit value adjustments) adjustments. But good headline numbers concealed more mixed details. BoA's and revenue contracted from levels seen a year ago, and executives warned buybacks of bad loans from private investors and the GSEs could cost another $6 billion above current reserves. Morgan Stanley lost money before their big $2.3B DVA adjustment, although its trading and investment banking businesses are seeing strong growth. Citi did well on an operating basis, although this excluded a $4.7B write-down of the value of the stake in Morgan Stanley Smith Barney brokerage joint venture sold to MS in September. The big story for Citi was the surprise announcement on Tuesday, the day after earnings, that CEO Pandit would step down immediately. Reports suggest that Pandit's departure was due to disagreements with board members regarding strategy and performance measures.

- Quarterly reports from IBM, Google, and Microsoft were a major source of weakness. IBM's headline numbers were roughly in line with expectations, however there were concerns about its software and its tech services revenue being down on a y/y basis. Microsoft's profits fell more than 20% on a y/y basis and revenue was challenged as PC (and Windows OS) sales fall. Shares of Google fell approximately 10% after the firm's accidental early release showed profits falling sharply on a y/y basis, missing expectations widely. Executives blamed the softness on the lower rates the firm is getting for mobile ads. The quarterly results were bad enough to entice CEO Larry Page, with a weak and raspy voice, to join the conference call for the first time since this spring when he lost his voice to an unspecified ailment. Intel warned that it is seeing softness in both business and consumer markets. On the bright side, flash memory powerhouse Sandisk comfortably beat expectations, on outstanding smartphone/tablet demand and some initial recovery in NAND prices.

- Telecom giant Verizon saw a solid increase in profits in its Q3, although they were only just in line with expectations. Following the switch to multi-device data connections and a rise in rates back in June, Verizon Wireless now reports average revenue per account (ARPA) instead of average revenue per user (ARPU); the new APRA figure saw a nice boost for the firm. Net adds were solid. Third quarter smartphone sales included 3.4M Android devices and 3.1M iPhones, 21% of which were iPhone 5s.

- General Electric's profits were right in line, although revenue missed and the tone of executives was hesitant. Notably GE cut its revenue growth outlook for the full year to +3% from +5%. CEO Immelt said business in FY13 business would like be a lot like it was in FY12, and that no big improvement was expected in the world economy. Honeywell's profits were solid although revenue missed expectations and barely grew y/y. North America-centric oil services firm Baker Hughes missed both top- and bottom-line expectations thanks to the continuing slowdown in drilling activity, while the more internationally-oriented Schlumberger managed to top expectations helped by strong demand overseas.

- Shares of McDonalds fell after the firm reported disappointing earnings. The company also warned that October's comps are currently trending negative, boding ill for Q4. Coca-Cola had a good quarter whereas Pepsi's revenue fell 5% on a y/y basis, an outcome attributed to the ongoing restructuring process that led to unprofitable businesses being shut down. Earnings were good, and the firm reiterated its FY12 outlook.

- Japan's Softbank reached a deal to buy 70% of Sprint Nextel for $20B. The merger unites two firms that are the third biggest mobile carriers in their respective markets, in a deal that would be the largest ever foreign acquisition by a Japanese company. In the wake of the deal, there have been reports that Sprint will acquire a majority position in Clearwire, if not take out the entire company. In the oil patch, Exxon said it had a deal to acquire Canadian oil and gas company Celtic Exploration for $2.6B, helping it to grow its output and expand its asset base in western Canada. Exxon will pay C$24.50 for each share of Celtic, a 35% premium to Celtic's prior closing price. The deal is being compared to CNOOC's $15B bid for Nexen and Malaysian state oil company Petronas' $5.0B deal for Progress Energy.

- The decent Chinese data and a more positive tone in Europe drove funds out of safe-havens and kept the dollar and the yen on the back foot. A few pieces of encouraging US economic data complimented China. There were continuing reports that Spain would make a formal aid request in November to coincide with a revised Greek program and a Cyprus aid package. The aid looks like it will arrive in the form of a precautionary credit line, though Spanish officials are remaining cagy about their intentions. Moody's decision to keep Spain's sovereign rating at investment grade aided the euro. EUR/USD came into the week around 1.2910 and rose as high as 1.3140 in the wake of Moody's action on Spain. The pair slumped in the second half of the week as European officials quarreled at the Euro summit over the shape of the banking union. M&A flows from the Softbank/Sprint deal helped push USD/JPY higher all week, with the pair moving from 78.40 to around 79.40. Mitt Romney reiterated his pledged to name China as a currency manipulator if he won the election, pushing CNY to fresh post-2005 revaluation highs against the USD, with USD/CNY trading below the 6.2450 level.



TradeTheNews

Oct 19 2012

Very decent end to the week, with nice profits and steady stream of profitable trades. As customary  downtrending market is good to us.


Session Time: Fri Oct 19 00:00:00 2012
[08:45] {dino} gm
01[08:49] {Threei}  morning dino
[08:57] {nemo} so...two little does come in around last light at 5:30, so I have to sit there until they leave.  Unfortunately after dark, I heard 3 more come in.  They had a frickin' dinner party.  I wasn't able to get down out of the tree until 8:15...wtf
[08:58] {dino} lol
[08:58] {nemo} I wish I had night vision, that stuff is kinda' interesting to watch
[09:00] {dino} you should see my border collie mis try to round them up in my yard, funny
[09:00] {dino} mis=mix
[09:00] {nemo} yeah, like useless
[09:00] {nemo} but I'm sure it's entertaining
[09:01] {nemo} I've gone soft in my old age...I can't shoot does when it looks like they have fawns with them
[09:02] {nemo} What cracks me up about fawns is they don't know to be afraid, they start coming over to you to check you out if they see you
[09:02] {nemo} just had our morning stop hunt in spy
[09:03] {goryl} gm
01[09:03] {Threei}  goryl :)
[09:03] {nemo} that's your opinion
[09:14] {jackharry} good morning
01[09:14] {Threei}  jack :)
01[09:14] {Threei}  interesting how little market reacted on EU summit agreements
[09:15] {scottie} good morning
01[09:15] {Threei}  scottie :)
[09:18] {Beau} good morning
01[09:18] {Threei}  beau :)
[09:21] {Will49} gm
01[09:21] {Threei}  will :)
[09:22] {ese} gm
01[09:23] {Threei}  ese :)
01[09:23] {Threei}  best line of yesterday: so little time, so much to redistribute
[09:24] {nemo} or expropriate
[09:24] {_1zach4} gm
01[09:24] {Threei}  zach :)
[09:24] {ese} what was the context
[09:24] {ese} welcome to the board zach
01[09:24] {Threei}  they had that dinner yesterday, ese, what its name
01[09:25] {Threei}  where candidates make self-deprecating jokes and take zingers at each other
[09:25] {ese} ahhhhhhh
[09:25] {nemo} bunny makes alot of noise when she's chewing grass
01[09:26] {Threei}  http://www.allvoices.com/contributed-news/13219263-al-smith-dinner-obama-and-romney-take-some-time-out-for-humour
01[09:29] {Threei}  great... chinese conpany is bidding for AONE
01[09:30] {Threei}  which received quarter of billion of taxpayer injection
[09:31] {nemo} spy bounce area .34
01[09:32] {Threei} Long Setup:  FCX  .25 break hl
[09:32] {nemo} iwm .64
01[09:32] {Threei}  If holds  .15
01[09:32] {Threei}  Invalidated
01[09:33] {Threei}  valid again, same setup
01[09:34] {Threei} Short Setup: SLW  39 break
01[09:34] {Threei}  If holds  .05
[09:35] {nemo} next spy level .17
01[09:35] {Threei}  no go SLW
01[09:35] {Threei}  FCX target 1:3
01[09:35] {Threei}  1:1
[09:36] {scottie} fortunately, was not in short-list
[09:36] {scottie} fcx too fast for me
[09:36] {Will49} as with me
01[09:36] {Threei}  it returned for pickup
[09:36] {scottie} hi will
[09:36] {Will49} hi scottie
01[09:37] {Threei}  perfectly tagged .26 - .27 on pullback
[09:37] {nemo} looking for spy bottom at .17
[09:37] {nemo} ltna .71
[09:38] {nemo} partialling along the way 10 o'clock numbers
01[09:38] {Threei} Long Setup:  AIG  .85 break
01[09:38] {Threei}  If holds  .80
01[09:39] {Threei}  half out .94
01[09:39] {Threei}  scalpers win
[09:40] {dino} lulu blood
01[09:40] {Threei} Long Setup:  MET  .50 break hl
01[09:40] {Threei}  If holds  .40
01[09:41] {Threei}  Invalidated
01[09:44] {Threei} Short Setup: CAT  .85 break hl
[09:44] {thomcbell} looking for a long setup in aig down here
[09:44] {ese} spyders downward  spiral.........haven't seen any news....anybody
[09:44] {nemo} yeah, lotsa news
[09:44] {thomcbell} treasury to sell remaining stake this year
[09:44] {dino} lots of bad earnings ese
[09:44] {ese} what'd i miss
[09:44] {nemo} frickin' musicians
[09:44] {ese} ahhhhhhhh
[09:45] {dino} spy gap around 144.09
[09:45] {ese} lol
01[09:45] {Threei}  economy greatly improved I guess :)
[09:45] {ese} ouch
[09:45] {nemo} l tna .42
01[09:45] {Threei}  stop .91 CAT
[09:45] {nemo} stop under .32
[09:46] {nemo} partialling alll the way
[09:46] {ese} L fcx .80
[09:46] {nemo} pheww
[09:47] {ese} 1/2 .89
[09:47] {ese} .09
[09:47] {ese} +
[09:48] {ese} stop to even balance
[09:48] {nemo} l qld .62
[09:49] {nemo} stop qld .55
[09:50] {ese} stopped balance
[09:50] {ese} .80
[09:50] {ese} +.00
01[09:50] {Threei} Short Setup: LTD  .70 break
01[09:50] {Threei}  hl
01[09:50] {Threei}  If holds  .80
[09:51] {nemo} offering some .69 qld
[09:51] {nemo} o.k. cool
[09:51] {ese} bstop fcx .91
[09:52] {nemo} mmmhhhhh.....got "Little WIllie" in my head
01[09:52] {Threei} Long Setup:  LEN  .70 break
01[09:52] {Threei}  If holds  .60
[09:53] {dino} lulu hl l .50
[09:53] {ese} L .89
[09:53] {dino} fio l .00
[09:54] {nemo} stop to .50 tna
[09:54] {nemo} qld .60
[09:54] {dino} out fio .17, +.17
[09:56] {ese} good one dino
[09:56] {dino} out lulu .94, +.44
[09:57] {ese} extreme use of a 2 X 4 for fcx here in a second
[09:57] {dino} thx ese
[09:57] {nemo} ricin coated nails
[09:58] {nemo} I'm flattening for the numbers
[09:58] {nemo} out .59 tna
[09:58] {nemo} .99
[09:58] {nemo} .84 qld
[09:59] {dino} met l .35
01[09:59] {Threei}  Invalidated  LEN
[09:59] {dino} phm l .50
[09:59] {ese} and I thought that LEN was a nice fellow
[10:00] {nemo} ebay
[10:00] {ese} fcx stopped .89 even
01[10:00] {Threei}  US) SEPT EXISTING HOME SALES: 4.75M V 4.74ME
[10:00] {ese} shoulda taken my .08 cents
[10:01] {nemo} qld
[10:01] {ese} massive increase don't you think
[10:01] {nemo} sorry
[10:01] {ese} .01 for home sales
[10:01] {ese} should send the market sky rocketing
01[10:02] {Threei}  LTD 1:1
[10:02] {nemo} no...it's what the market does on the news and it's coming in
[10:02] {dino} perception is reality eses
[10:02] {nemo} 82.64 is WPP in IWM they might declaire victory and create a range day today.  the Qs are just below the QPP
[10:03] {nemo} SPY very close to WR1
01[10:05] {Threei} Short Setup: CAT  .80 break hl
01[10:05] {Threei}  If holds  .90
[10:06] {dino} out phm .64, +.14
[10:07] {ese} shorter stay bigger shs dino?
[10:08] {dino} yes. been tougher to get the .30-.40 moves latey
[10:08] {dino} lately
01[10:08] {Threei}  CAT 1:1
[10:08] {dino} adjusting w/the times, you know ese
01[10:09] {Threei}  LEN 1:2 close enough, out
[10:09] {ese} definitely
[10:09] {scottie} cat +.19 tks Vad
01[10:09] {Threei}  :)
[10:10] {_1zach4} passed on LEN, thought it was invalidated
[10:11] {dino} met stuck, to b/e
01[10:11] {Threei}  sorry, meant LTD
01[10:11] {Threei}  lol
01[10:12] {Threei}  LEN was invalidated
[10:12] {nemo} RVBD
[10:12] {_1zach4} ah that makes more sense lol
01[10:12] {Threei}  looking at too many names
[10:12] {scottie} +.13 ltd tks Vad
01[10:13] {Threei}  yw
01[10:14] {Threei} Short Setup: FCX  .80 break
01[10:14] {Threei}  If holds  .90
[10:15] {dino} out met flat
[10:15] {ese} L vrtx .48
[10:19] {nemo} ASML looks short
[10:19] {ese} out .53
[10:19] {ese} +.05
[10:19] {nemo} dg
[10:19] {nemo} sorry
[10:19] {nemo} DG dino
[10:19] {ese} don't like the mrkt going against me here
[10:20] {nemo} that 48 level soaked up alot of volume
[10:20] {ese} oh sure.........bastard..............the second i get out
[10:20] {ese} vad wheres that vodka
01[10:20] {Threei}  same shelf as always
[10:20] {ese} auch du miya!!!!!!!
[10:21] {ese} lol
[10:23] {nemo} OP EX friday?
01[10:23] {Threei}  let's trail FCX to .86
[10:23] {ese} next isn't it
[10:23] {ese} hmmmmmm maybe not
[10:23] {nemo} this is 3rd trading week of month
[10:23] {nemo} musicians...what day is it
[10:24] {ese} ya...forgot about that
[10:24] {ese} ahhhhhhhh
[10:24] {ese} tuesday 1978
[10:24] {nemo} and you are blonde
[10:24] {ese} i might be............why?
[10:24] {nemo} you are...you forget...you're plastered all over youtube
[10:25] {ese} roflol
[10:25] {Will49} let's all get plastered
[10:25] {nemo} no dummie you though considering the women you have fronting your band
[10:26] {ese} which picture.........the one with the vodka bottle in the left hand and am leaning over to the right?
[10:26] {nemo} youtube...not pictures
01[10:26] {Threei}  don't mention those nemo... you are giving dp heart attack
[10:26] {nemo} dp is not here
[10:26] {Will49} the bully-in-chief is at it again
01[10:26] {Threei}  he will have his heart attack when reads the log
[10:27] {nemo} hey, if it's time to punch his ticket..so be it
[10:27] {ese} L phm .98
[10:27] {nemo} just doing my job
[10:27] {nemo} helping souls transition
[10:27] {nemo} whether they want to go or not
[10:27] {nemo} btw...won't be here on Monday
01[10:27] {Threei}  every time he sees those girls he whispers "I want to be ese"
[10:28] {ese} good..........i'm mean...........ahg too bad
[10:28] {nemo} I'm going to spend some time with coeds at a local university
[10:28] {nemo} rvbd
[10:29] {ese} phm.............18 break........come on
01[10:30] {Threei}  FCX 1:1
[10:31] {ese} will.......hows the weather in your end of town.........it's sunny and 25 degrees C in my end.........
01[10:32] {Threei}  lol
01[10:32] {Threei}  I want what you smoke ese... obviously good stuff
[10:32] {ese} lol
[10:32] {Will49} yeah, just balmy trade winds blowing in from Maui
01[10:33] {Threei}  btw ese... have you seen my Pioneer square series?
[10:33] {ese} good comeback
[10:33] {ese} no
01[10:33] {Threei}  http://photography.realitytrader.com/2012/10/pioneer-square.html
[10:34] {ese} very nice
[10:35] {ese} thats the square accros from the ymca?
01[10:35] {Threei}  Quadra, near the church
[10:36] {Will49} 5 min walk from my place
[10:36] {ese} in all the years i've been here i've never walked through it
01[10:36] {Threei}  oh boy
[10:37] {Will49} and there's no more room to bury you there
[10:37] {ese} lol
[10:37] {Will49} closed end fund
[10:38] {Will49} that doesn't make any sense
01[10:39] {Threei}  if SPY loses 144.80, we might get really good selloff
[10:39] {ese} you put money in but nothing comes out the other end
01[10:39] {Threei}  financial constipation?
[10:40] {ese} ? lol
[10:40] {ese} nice description
[10:41] {ese} where cipher.........he normally shows up for 10 minutes makes a K or two and then leaves
01[10:41] {Threei}  he is slacking today
01[10:41] {Threei}  die FCX
[10:42] {ese} phm.........it's looking like one of your textbook examples vad........techniques of tape reading
01[10:42] {Threei}  nice JBE but needs market help
[10:42] {nemo} asml just bolted
[10:43] {ese} fcx is a big time mrkt follower.....won't die if spders take off up
[10:43] {ese} ya
01[10:43] {Threei}  trailing stop for the balance to .76
01[10:44] {Threei}  that's third win a row... want to make it third 1:2 in a row, but don't want to keep it at b/e still, after such long consolidation
[10:45] {ese} which stock vad?
[10:46] {ese} lost track
01[10:47] {Threei}  FCX
01[10:47] {Threei}  10:14] {Threei} Short Setup: FCX .80 break
01[10:47] {Threei}  [10:14] {Threei} If holds .90
[10:47] {ese} tks
[10:48] {thomcbell} lonmg setup qcom 59.30 break if holding 59.20
[10:49] {thomcbell} could be 2 sided
01[10:49] {Threei}  ES) Spain region of Asturias requests �261.7M in aid from Autonomous Liquidity Fund (FLA) - financial press- Reminder: Earlier today the Spain region of Balearic asks for a �355M bailout from the Autonomous Liquidity Fund
01[10:50] {Threei}  (IE) Ireland Central Bank Official: Ireland's banks still face significant challenges, but are close to the point where state guarantees can be withdrawn
[10:50] {ese} ok ...theres a new one on me......whats the Autonomous Fund......something based in Spain
[10:51] {thomcbell} qcom long invalidated obviously
[10:51] {ese} ya.......was watching that Thom
01[10:52] {Threei}  if I am not mistaken, Ireland is about the only country that implemented tax cuts as one of measures of fighting off the crisis
01[10:53] {Threei}  jack, is it so or I am confusing something?
[10:53] {thomcbell} aapl moment of truth here - vulnerable on the daily
[10:54] {nemo} nah, they should go down to test support, moment of truth is 620 area
[10:56] {jackharry} They made some initial reductions around 2010, but have since put them back up
[10:56] {jackharry} massive cuts in public spending, big reductions in public sector pay
[10:56] {jackharry} and big reductions in numbers employed by the state
01[10:56] {Threei}  right
[10:57] {Will49} any leprecons (sp) get laid off?
[10:57] {jackharry} although the one of the taxes they didnt increase was corporation tax on companies, it is very competitive
[10:58] {ese} wel..........at least they cut back staff at the golf courses........that would be disasterous Jack
[10:58] {ese} they didn't
[10:58] {nemo} http://www.bloomberg.com/news/2012-10-18/power-hogs-targeted-by-france-in-big-brother-legislation.html
01[10:58] {Threei}  so, does is it really look like Ireland climbs out of the crisis?
[10:59] {jackharry} still in really bad shape, but ceretainly better than some others
01[10:59] {Threei}  got it, ty
01[10:59] {Threei}  France is so done...
01[10:59] {Threei}  FCX, finally
01[10:59] {Threei}  third 1:2er in a row
01[10:59] {Threei}  makes day brighter
[11:00] {scottie} didn't take my bid yet
[11:00] {dino} re france, sooner or later they will run out of other peoples' money
[11:01] {ese} thats is a very bizzare article vad
[11:01] {nemo} social engineering run amok
01[11:01] {Threei}  that's what socialism does ese
[11:01] {nemo} the utility is now owned by the government
[11:01] {dino} atlas shrugged happening in real time
01[11:02] {Threei}  you may not believe it but socialistic world is beyond bizzare
[11:02] {ese} true but at least democratic...........try it for a while.......get ticked ..vote em out
01[11:02] {Threei}  I just wish you lived ikn it for a few month
01[11:02] {Threei}  you would change your world view in a hurry
[11:03] {scottie} out fcx +.18 tks Vad
[11:03] {ese} I like Denmark.........they seem to be doing it right
[11:03] {dino} gj
01[11:03] {Threei}  in particular, you'd shudder at the thought of Obama second term or NDP ever taking power in Canada
01[11:03] {Threei}  scottie :)
[11:04] {Will49} we pay a penalty(higher rate) in BC if elect usage exceeds base
[11:05] {Will49} nothing wrong with that..just focuses attention on waste
[11:05] {dino} wouldn't it be easier and better to build now power plants
[11:05] {ese} socialism can be abused for sure.........but health care here in Canada was created by a socialist gov't ...Tommy douglas in Saskatchewan........
[11:06] {nemo} here comes the aapl test
[11:07] {Will49} dino...good question; beyond my pay scale
[11:07] {ese} mine as well
[11:07] {dino} :)
[11:07] {dino} sm l tnc ave .95, thin
01[11:08] {Threei}  SPY as foretold... selling off nicely
01[11:08] {Threei}  FCX 1:3... awww
[11:09] {ese} and besides vad..........it ain't gonna matter which gov't where for you...........you'll be able to make money in all situations
01[11:09] {Threei}  you think?
01[11:10] {Threei}  let me give you this mental exercise
[11:10] {_1zach4} nice CAT trade
[11:10] {dino} wow! ese, obamination wants us "speculators" to go to 50%
[11:10] {_1zach4} 1:8 at this point
01[11:10] {Threei}  your favorite president remains in the office,
[11:10] {ese} whoa
01[11:10] {Threei}  and unretsrrained by the next election, goes ahead and implements transaction tax
01[11:11] {Threei}  what do you think I am going to do for a living?
[11:11] {ese} ok........thqt just changed my mind
[11:11] {ese} he's out
[11:11] {Beau} you mention Canada's health care.  We hear so many negatives, what is the truth?  Is it a good system or not?
[11:11] {dino} capital gains to ordinary income rate, will kill inovation, traders, investors, etc
01[11:11] {Threei}  beau... it's a mixed bag
[11:11] {thomcbell} aapl getting smacked pretty good
[11:11] {jackharry} Great quote from Margaret Thatcher - ”The problem with socialism is that eventually you run out of other people’s money.”
01[11:12] {Threei}  while most of medical services are free and guaranteed, the lineups for many of them are unimaginable for US
[11:12] {Will49} Canada has much healthier people and health care way lower than US, so depends on how you measure
01[11:12] {Threei}  there are scores of people waiting for surgeries for years
[11:12] {Will49} only elective surgery Vad
01[11:12] {Threei}  those same surgeries that are doen in US in a matter of days or weeks
[11:13] {_1zach4} Is it true that people go to vets for things like x-rays?
01[11:13] {Threei}  well, hip or knee replacement, will
[11:13] {Will49} and you can go to private clinics if you don't want to wait
01[11:13] {Threei}  yes but then you pay
01[11:13] {Threei}  and you already paid for it through your taxes
[11:14] {Beau} pay private full cost?
01[11:14] {Threei}  sure
01[11:14] {Threei}  knee replacement is not really an elective surgery
[11:14] {Will49} depend how you look at it. If everything was covered, tax much higher
[11:14] {Will49} most seniors I know in Victoria only wait a month or tow for knees, hips
[11:15] {Will49} two
[11:15] {Will49} so...on what criteria would you judge health care systems?
[11:16] {dino} availibility of when i want it
[11:16] {dino} tnc stop
[11:17] {ese} rock bottom.........it's not perfect but it's certainly better than if we didn't have it.......
01[11:17] {Threei}  will... that's way out of times quoted everywhere I look
[11:17] {Will49} and better than most mixed systems in the world
[11:17] {nemo} l tna .91
01[11:17] {Threei}  3-5 years waiting times
[11:17] {nemo} stop under .85
[11:18] {ese} definitely
[11:18] {Will49} Vad...don't believe everyhting you read in media
[11:18] {nemo} partialling all the way
[11:18] {dino} lulu hl l .80
[11:20] {nemo} funny how spy bounced right at a fib level, look for db formations here
[11:20] {nemo} out tna
[11:20] {nemo} got 1:1 on half
[11:21] {nemo} o.k. serious bottoming volume coming in spy
01[11:21] {Threei}  official stats:
01[11:21] {Threei}  Since 2005, Ontario has achieved significant wait time reductions in the following areas: cancer surgery (23.5 per cent or 19 days); cataract surgery (61.4 per cent or 191 days); hip replacement (45.6 per cent or 160 days); knee replacement (55.2 per cent or 243 days); CT scans (54.3 per cent or 44 days).
01[11:21] {Threei}  that's REDUCTIONS!
[11:21] {nemo} and Vad will never have to worry about having brain surgery
[11:22] {nemo} they may want to try and test 144 on spy
[11:23] {Will49} I don't know th official times in BC but know  a dozen old curlers in my club who got knee replacement very quickly
[11:24] {ese} me either.......don't know the stats but when my wife's dad need open heart surgery to repare a valve........it got done within days
[11:25] {Will49} any condition that requires immediate attention -gets it
[11:25] {ese} seems like
[11:26] {dino} out lulu .20, +.40
[11:27] {scottie} gj dino
[11:27] {Will49} anyway...this system is recognized world over as one of the best based on level of health in population, infant mortality AND cost to deliver
01[11:27] {Threei}  greater victoria hispitals are one of the shorter time waits for that particular surgery, will - 37 weeks average
[11:27] {ese} the other part to this is our population base....considering we only have a population of approx 40million ...to have it funded at all is pretty good i think.............USA ...what.......almost 400 million.........somebody hoarding some dollars somewhere
[11:28] {Will49} lived in US...best health care in the world (if you can afford it)
[11:28] {ese} hows it done.......through insurance
01[11:28] {Threei}  3 weeks in US
[11:29] {ese} if so we know how that gets bilked..........
01[11:29] {Threei}  hat's 12 times difference
[11:29] {Will49} yes, private insurance
01[11:29] {Threei}  that btw on top of waiting for initial consultation - two-three times longer in Canada
[11:30] {ese} ya.........and everyone trys to overcharge that system
[11:30] {Will49} obviously , wait times for non-critical issues are not detrimental to good overall health care
[11:31] {Will49} US wait times are excellent...no argumant there
[11:31] {Beau} stent in LAD 2 hrs after need determined, medicare not private
[11:32] {ese} wheres that beau?
[11:32] {Will49} just sayin.....wait times are not optimum way of measuring benefits of health care system
[11:32] {Beau} Texas and we really are part of US.
01[11:32] {Threei}  lol
[11:33] {ese} lol
[11:33] {dino} lol, glad it is
01[11:33] {Threei}  7c% just run again my photographer's profile
01[11:33] {Threei}  7x5
01[11:33] {Threei}  http://www.sevenbyfive.net/photos/photo-profile-vadym-graifer/
[11:34] {ese} i'm gonna be close to there at the end of April.....Lafayette for a music festival with my high school R&B band
[11:34] {Beau} where ese?
01[11:34] {Threei} Long Setup:  FCX  .45 break
01[11:34] {Threei}  If holds  .40
[11:35] {ese} LSU.....Louisiana State University
[11:36] {ese} and possibly New Orleans as well
01[11:36] {Threei}  Invalidated
01[11:36] {Threei}  ese... do you have 5min 38 sec of free time?
[11:36] {ese} i think so why
01[11:37] {Threei}  watch where slow creep of socialism took USA:
01[11:37] {Threei}  http://goo.gl/iiFvb
[11:37] {ese} have to go to the washroom but other than that
[11:37] {Beau} Baton Rouge, first time there ese?
01[11:37] {Threei}  those are cold hard humbers
[11:38] {thomcbell} aig long setup - 35.96 break if holding 35.85
[11:38] {ese} Yes......wheres Baton Rouge.......Lafayette is different isn't it
01[11:38] {Threei}  FCX is valid again
[11:38] {ese} or are they side by side
01[11:41] {Threei}  scalpers stop .39, day traders .34
[11:42] {nemo} now it's defecate or get off the commode for aapl
[11:44] {Beau} ese, Lafayette 2hrs west.  New Orleans is only 1 1/2 hours east.
[11:45] {Beau} Great food .  If you have time think about going to NO.  If you haven't been there before.
[11:46] {ese} Ok......pretty straight forward explanation explanation vad.........
[11:46] {ese} interesting video
[11:46] {ese} You live in Baton Rouge right beaU?
[11:47] {Beau} No, that is LA.  I am in TX about 4 hours west of Baton Rouge.
[11:48] {Will49} thought you might live in Beau-Mont
[11:48] {Will49} :)
[11:48] {Beau} ever been to New Orleans ese?
[11:48] {ese} no never
[11:48] {Beau} lol will.
[11:49] {ese} hope we can get there..........
[11:49] {Beau} you really need to go.  Jazz in the
[11:49] {nemo} ltna .81
[11:49] {nemo} break of .80
[11:49] {Beau} French Quarter will put you in heaven
[11:49] {ese} definitely want to see preservation hall
[11:50] {nemo} got to hold low here iwm
[11:50] {thomcbell} nemo - aapl
[11:51] {nemo} nope
[11:52] {nemo} yeah  aapl in trouble now looking to 614ish
01[11:53] {Threei}  no go
[11:53] {nemo} below that 600
01[11:53] {Threei}  wow, selling just won't stop
[11:53] {ese} What does this mean:  18 October, 2012 9:03:12 AM PDTFreeport McMoran Copper & Gold Inc Exec: Copper concentrate markets to remain tight for the next two years- Spain smelter produced record volumes in July 2011-12 period. - 2013 copper treatment and refining charge (TC/RC) pricing to be in line with 2012 pricing, around $63.50/tonne - Source TradeTheNews.com
[11:53] {ese} in particular ...the remeains tight comment
[11:54] {ese} limited supply?
[11:54] {ese} that would drive prices up
[11:54] {ese} ?
01[11:55] {Threei}  that's what he says ese
[11:55] {ese} ok
01[11:55] {Threei}  how true it is remains for anyone to gauge
[11:55] {ese} that would explain the $60 target from some analysist
01[11:55] {Threei}  further economy slowdown can easily turn it into opposite
[11:56] {ese} ya definitely
01[11:56] {Threei}  (IT) Italy Econ Min: Italy financial transaction tax (Tobin) scheduled to go into effect on Jan 1, 2013 assuming parliamentary approval; will not apply to govt bonds -
[11:56] {nemo} o.ki. here's the 144 test.  .86 next level below
01[11:56] {Threei}  so ese... the day we see such headline about USA, I move in your house
[11:57] {ese} lol
[11:57] {ese} I'll take ya any day vad
01[11:57] {Threei}  and I am not paying rent
[11:58] {ese} definitely not
[11:58] {nemo} we're very close
[11:58] {dino} funny, doesn't apply to govt bonds, that says it all
01[11:58] {Threei}  sure
01[11:58] {Threei}  they want them to buy those
[11:59] {thomcbell} wow that is too much
[11:59] {nemo} ltna .54
[11:59] {ese} i'm not sure i get the full meaning of that.......
01[11:59] {Threei}  which part?
[11:59] {thomcbell} comedy
[11:59] {ese} not to apply to govt bonds.......rather the implication
[11:59] {dino} if it was such a good idea, then why not tax govt bonds
[12:00] {ese} hmmmmmmm
[12:00] {dino} it will hurt markets thats why
[12:00] {nemo} stop below low iwm
01[12:00] {Threei}  they want to tax any transaction in financial sphere: stocks, futures, commodities, whatever,
01[12:00] {Threei}  but they want bond buyers to continue buyikng their debt, so they make exception for that
[12:00] {ese} ah ok
01[12:03] {Threei}  Weakness in key earnings reports are weighing on indices this morning. McDonalds, General Electric and Microsoft are in the red this morning after disclosing troubling earnings reports
01[12:12] {Threei} Short Setup: CAT  84 break
01[12:12] {Threei}  If holds  .10
01[12:15] {Threei}  1:1
[12:15] {nemo} below this .62 on spy
[12:15] {nemo} .65 on iwm
01[12:16] {Threei}  1:2 close enough
01[12:16] {Threei}  out .83
[12:17] {nemo} yeah, capitulation volume in spy here
01[12:17] {Threei}  got back that FCX stop and then some
01[12:20] {Threei} Short Setup: GLD  .50 break hl
01[12:20] {Threei}  If holds  .60
[12:20] {nemo} l .81
[12:20] {nemo} tna
01[12:20] {Threei}  two-sided probably
[12:20] {nemo} partialling all the way
[12:21] {nemo} that could be the bottom based on that spy volume
01[12:21] {Threei}  and GLD made higher low
[12:21] {nemo} yeah yeah yeah
[12:21] {dino} fio l .65
[12:22] {nemo} if we get pullback .85 area for tna, consider it a gift
[12:23] {nemo} RVBD
[12:24] {nemo} volume dropped on this pullback spy iwm fas
[12:24] {nemo} vwap run possible
[12:26] {dino} atk spike
[12:28] {nemo} frickin make a liar out of me
[12:28] {dino} out fio .74, +.09
[12:28] {nemo} iwm in fib confluenece spy still above low
01[12:31] {Threei}  SPY, double bottom or bust
01[12:32] {Threei}  needs to take 144 to break the downtrend
[12:35] {nemo} done
01[12:37] {Threei}  1:2 on a long side
01[12:37] {Threei}  out
01[12:38] {Threei}  pretty happy with how today goes
[12:43] {ese} ok......i'm toast here......gotta go catch you all monday....have a great weekend everyone
[12:44] {Will49} be good ese
01[12:46] {Threei}  take care ese
01[12:47] {Threei}  #Florida: #Romney 51%, #Obama 46%
[12:48] {Will49} hope that keeps up for another few weeks
[13:01] {dino}  me too
[13:06] {Will49} evn tho Mitt may not be able to make any really big changes, at least I'll be happier
[13:07] {Will49} not having to look at that toothy, fast talking face
[13:13] {nemo} all these polls...
[13:14] {Will49} as I keep sayin"...only one that counts is election day
[13:14] {nemo} here come the VWAP runs
[13:30] {nemo} He can't make any changes...bureaucracy and Congress and regulation
[13:30] {nemo} that's it
[13:30] {nemo} if he has a split congress he can veto stuff
[13:30] {nemo} if one or the other party owns hit, he be overridden
[13:31] {nemo} we will eventually go the way of Europe
[13:31] {Will49} sad
[13:31] {nemo} nature of things
[13:32] {Will49} hope he (or Barry) can keep this ship from tipping over in the meantime
01[13:32] {Threei}  look how perfectly SPY dropped on daily off that upper descending line O spoke of two days ago
01[13:33] {Threei}  the political will required to fix things for real is incredbile... hard to see it happening
01[13:33] {Threei}  not in democracy
01[13:34] {Threei}  we need benevolent dictator to make it happen
[13:35] {Will49} we'll need to wait for this generation of "me first" leaders to die off
[13:36] {nemo} you think this generation is different from any other?
[13:36] {Will49} absolutely
[13:36] {nemo} plu ca Change plu cest le meme Chose
[13:36] {Will49} the "me" generation in spades
01[13:37] {Threei}  how next generation will help? problem is, pressure from beneath won't allow any of perks and entitlements to be cut
[13:37] {nemo} nope...Tocqueville
01[13:38] {Threei}  as far as each particular indidual is concerned, a) it's not his fault and b)his entitlement is the right one
[13:39] {nemo} everybody is "after me you come first"
[13:39] {Beau} those who must legislate and regulate think only of being re-elected and re-appointed.  So how will anything change?
[13:39] {nemo} [13:36] {nemo} plu ca Change plu cest le meme Chose
[13:40] {Will49} amen Beau
[13:40] {nemo} collapse, massive dislocations cause change but not as much change as one would think.  "Gains" are relatively temporary
01[13:40] {Threei}  right, which also indidcates again that it's our doing and our fault - because it's us who won't bote for those who cut our entitlements
[13:41] {Will49} amen Vad
[13:41] {nemo} Stalin was right
01[13:41] {Threei}  if we did, they'd work to change things
01[13:41] {Threei}  we don't - they work to keep status quo rolling
[13:41] {Will49} somebody said that a democracy gets the government it deserves....well?
[13:42] {nemo} there are two other huge themes that people aren't accounting for (dangling preposition aside)
[13:42] {nemo} Energy is likely bottomed as far as cost, which Energy=Life.  Makes it harder to expand prosperity, and....robotics
01[13:43] {Threei}  been a good while since we saw such determined selling
[13:57] {nemo} coming into confluence on spy iwm and financials
[13:58] {nemo} .37 IWM  ,20 SPY  16 financials
[13:58] {nemo} xlf
[13:59] {nemo} Qs at .34 multiple levels
[14:05] {nemo} there we go
[14:16] {dino} back in 30
01[14:17] {Threei}  watvhing SLW for bounce
01[14:17] {Threei} Long Setup:  SLW  39 break
01[14:17] {Threei}  If holds  .95
01[14:17] {Threei}  half out
01[14:17] {Threei}  scalpers be happy\
01[14:18] {Threei}  what's that button say... "that was easy!"
01[14:19] {Threei}  scalpers win
[14:32] {scottie} system froze, had to reboot
[14:33] {scottie} Are we into something ?
01[14:33] {Threei}  no, not after SLW scalp
[14:33] {scottie} tks
01[14:33] {Threei}  well, right answer would be "in coma"...
01[14:34] {Threei}  but if you insist on "into" instead of in, then right answer would be: no, except nemo who is heavy into glue sniffing
[14:35] {nemo} ?
01[14:35] {Threei}  never mind :)
[14:36] {scottie} bad nemo ...
[14:37] {nemo} that means I'm good ;-)
[14:38] {scottie} pleonasm
[14:38] {nemo} not sure that qualifies
[14:39] {nemo} If I were to say "The fact that you call me bad, and the persona I effect is usually of a socially maladjusted individual, would in turn, actually mean I'm 'good"" would be a pleonasm
[14:40] {nemo} or, are you speaking of your comment
[14:40] {nemo} ?
[14:40] {scottie} bad nemo is a pleonasm
[14:42] {nemo} yep
01[14:44] {Threei}  I wanted to ask you to eschew the big words for redundancy but then realized redundancy was actually bigger word than pleonasm
01[14:44] {Threei}  so I shut up
01[14:44] {Threei}  so I shut up
[14:45] {Will49} lol
01[14:45] {Threei}  :)
[14:45] {scottie} lol
[14:46] {nemo} funny
[14:46] {nemo} funny
01[14:46] {Threei}  that was redundant pleonasm
01[14:46] {Threei}  robbers is slacking today... together with cipher... missing nice day
01[14:55] {Threei} Short Setup: FCX  .15 break
[14:55] {dino} what do you think, -300
01[14:55] {Threei}  yup
01[14:55] {Threei}  feels like another bout of selling in cards
[14:56] {nemo} Watch for short covering into the close OP EX today
01[14:56] {Threei}  or speaking in pleonasms, which quickly become word of the day, another negative move down is coming
[14:56] {nemo} if your short it's positive
01[14:57] {Threei}  change FCX to .20 break, aggressive
01[14:57] {Threei}  If holds  .25
01[14:57] {Threei}  I am really torn between pleonasm and defenstration as a favorite word of the week
[14:58] {nemo} how about omphalosskepsis
01[14:58] {Threei}  very nice
01[14:59] {Threei}  Invalidated  FCX
[14:59] {Beau} depends if you are an inner or outer
[15:01] {nemo} thank god for Google, huh?
[15:01] {Beau} absolutely
01[15:01] {Threei}  totally
01[15:01] {Threei}  to read makes us speak english good
01[15:04] {Threei}  wow
01[15:04] {Threei}  23 Banana Boat sunscreen products pulled from market due to risk products will ignite on person's skin
01[15:04] {Threei}  rofl
[15:05] {Will49} talk about getting burned
[15:05] {scottie} au l .25 ?
01[15:08] {Threei}  I doubt it
01[15:09] {Threei}  FCX is on again
01[15:09] {Threei}  .20 break short
[15:09] {scottie} ok
01[15:18] {Threei}  nah
[15:20] {nemo} short covering has commenced
01[15:21] {Threei}  looks like
01[15:24] {Threei} Long Setup:  CAT  84 break hl
01[15:24] {Threei}  If holds  .90
[15:26] {dino} fio l .96
01[15:27] {Threei}  target 1:3
[15:27] {nemo} vwap runs
[15:28] {nemo} spy gonna reclaim 144
[15:28] {nemo} that's S3 and vwap
[15:28] {dino} out fio .10, +.14
01[15:30] {Threei}  no worky
01[15:30] {Threei}  wow, SPY can't even get a decent bounce into close
[15:32] {Will49} does short covering usually happen so soon?
[15:32] {dino} calling it a week, tx all very good day for me
01[15:33] {Threei}  same here dino
01[15:33] {Threei}  stilll want to catch closing scalp
[15:39] {cipher} good afternoon
[15:39] {cipher} how was today?
01[15:40] {Threei}  hey
01[15:40] {Threei}  very good day
[15:40] {cipher} I knew that!
01[15:40] {Threei}  yeah...
[15:40] {cipher} had an issue this morning...
01[15:48] {Threei}  stall into close
01[15:50] {Threei}  nothing worth the risk
01[15:50] {Threei}  OK guys, thank you all, have a great weekend
01[15:50] {Threei}  see you Monday
01[15:50] {Threei}  get well cipher!
[15:50] {scottie} gn all
[15:50] {cipher} ty
[15:50] {cipher} good night
[15:52] {Will49} bye everyone

Oct 18 2012

Not really delighted by today. Nothing too bad, just listless, and slightly negative.


Session Time: Thu Oct 18 00:00:00 2012

[08:59] {cipher} gm
01[08:59] {Threei}  morning cipher
[09:08] {goryl} gm
01[09:09] {Threei}  goryl :)
[09:13] {nemo} well, saw a fisher cat, a 6 pointer, and a mink this morning
01[09:14] {Threei}  eventful morning
[09:14] {nemo} Nice watching the daybreak out in the woods
[09:15] {jackharry} good morning
[09:16] {nemo} ahhhh, the perfidious albion
01[09:16] {Threei}  jack :)
[09:17] {nemo} actually I guess you'd be the perfidious Hibernian
[09:17] {jackharry} Ah, you're treading into the murky world of Northern Ireland politics there!!
[09:18] {scottie} good morning
[09:18] {Beau} good morning
[09:18] {nemo} from a safe distance of course
01[09:18] {Threei}  scottie, beau :)
[09:18] {jackharry} the best place sometimes i think
[09:18] {nemo} Actually, I live in Ireland South
[09:20] {jackharry} Really?? Where?
[09:21] {Will49} gm
01[09:21] {Threei}  will :)
[09:29] {ese} gm
01[09:29] {Threei}  ese :)
[09:30] {ese} L fcx .11   cool got filled
[09:30] {nemo} bunny decided to make an appearance for the open
[09:30] {ese} out .26
[09:30] {ese} +.15
01[09:32] {Threei} Short Setup: SLW  .70 break
01[09:32] {Threei}  If holds  .80
[09:33] {nemo} liquidity issues this morning
01[09:33] {Threei} Short Setup: FCX  .20 break
01[09:33] {Threei}  If holds  .30
01[09:34] {Threei}  Invalidated  FCX
01[09:34] {Threei}  SKW no worky
[09:34] {nemo} finnies stronger
[09:34] {nemo} we going up
01[09:37] {Threei} Long Setup:  FCX  .35 break
[09:38] {nemo} gmcr
[09:39] {nemo} 25.40ish today
01[09:39] {Threei}  FCX valid
01[09:40] {Threei}  target 1:2
[09:40] {nemo} oh jeez, this is a faint...ebay reported terrible numbers and is up 1.66
[09:40] {nemo} a feint
[09:40] {nemo} feignt
[09:40] {nemo} not sure
01[09:40] {Threei}  stop is under .25, "obviously"
01[09:41] {Threei}  trail to .29
01[09:42] {Threei}  grr
01[09:42] {Threei} Long Setup:  LVS  .65 break
01[09:43] {Threei}  overtightened FCX
01[09:45] {Threei}  LVS 1:1
[09:45] {scottie} +.19 tks Vad
01[09:45] {Threei}  :)
01[09:46] {Threei}  can I have FCX back?
01[09:46] {Threei}  out in full LVS
[09:48] {nemo} ebay .7 bid
[09:48] {nemo} .97
01[09:50] {Threei} Short Setup: FCX  .50 break
01[09:50] {Threei}  If holds  .60
[09:51] {nemo} probably tops out around .80
01[09:53] {Threei} Short Setup: MOS  .45 break
01[09:54] {Threei}  Invalidated
01[09:57] {Threei} Long Setup:  MON  .65 break hl
01[09:58] {Threei}  1:1
[09:58] {scottie} too fast for me :(
[09:58] {Will49} as me
[09:59] {nemo} philly fed
[09:59] {nemo} leading indicators
01[09:59] {Threei}  *(US) OCT PHILADELPHIA FED: +5.7 V 1.0E
[09:59] {nemo} wow
[09:59] {ese} hmmmmm got out of fcx too soon
01[10:00] {Threei}  *(US) SEPT LEADING INDICATORS: 0.6% V 0.2%E
[10:00] {ese} Fed number is huge
[10:00] {ese} pretty much answers the question about the economy recoverying or not
01[10:01] {Threei}  look at components ese:
01[10:01] {Threei}  Components: - Prices Paid: 19 v 8 prior - New Orders: -0.6 v 1.0 prior - Employment: -10.7 v -7.3 prior - Inventories: +2.1 v -21.7 prior
[10:01] {ese} ahhhhhhh....maybe not..........thats only one of them isn't it
01[10:01] {Threei}  that answers it
01[10:01] {Threei}  read components
[10:01] {cipher} ebay l .10
01[10:01] {Threei}  orders zre dow, employment is down'
01[10:01] {Threei}  prices are up
[10:02] {ese} never read that part before
01[10:02] {Threei}  this is recovery??
01[10:02] {Threei}  this is inflation
[10:02] {cipher} out 1/2 ebay .30
[10:02] {Will49} it's only Obummer's prospects that are recovering
[10:02] {ese} I bow to your superior knowledge
[10:03] {cipher} out ebay in full .40 +.30
01[10:03] {Threei}  and not to spil your psrty completely, but how about this:
01[10:03] {Threei}  *(US) INITIAL JOBLESS CLAIMS: 388K V 365KE; CONTINUING CLAIMS: 3.252M V 3.275ME- 4-week avg claims: 365.5K v 364.0K w/w - Prior Initial Jobless Claims revised higher from 339K to 342K - Prior Continuing Claims revised higher from 3.273M to 3.281M
[10:04] {cipher} thx for the heads up nemo
[10:04] {nemo} ye
[10:05] {scottie} bbt l .50 ?
01[10:06] {Threei}  I don't like it
[10:06] {ese} es duck and cover
[10:06] {scottie} tks
01[10:06] {Threei}  don't fall into trap of seeing what you want to see, ese...
[10:06] {cipher} AAPL L .22
[10:06] {ese} vv is brutal this morning
01[10:07] {Threei}  your guy is clueless when it comes to economy
[10:07] {ese} "Vads Vengence"
01[10:07] {Threei}  not me ese... reality is brutal
01[10:07] {Threei}  I merely highlight it
[10:07] {cipher} out appl .21 -.01
[10:08] {ese} ah well.......doesn't matter really whet the market is doing i'm going to make money anyway
01[10:08] {Threei}  I think BBT has more downside
[10:08] {scottie} break of .40 ?
01[10:08] {Threei}  I think so
[10:09] {cipher} aapl l .20
01[10:10] {Threei}  invalidated anyway
[10:10] {scottie} yep
[10:13] {cipher} out 1/2 aapl .20 +1
01[10:13] {Threei}  wtg
[10:13] {Will49} love to watch you gunslingers cipher
[10:13] {Beau} clf l .10 ?
[10:14] {nemo} ebay back near the whole
01[10:15] {Threei}  CLF, half lo
[10:16] {cipher} out rest aapl .50 +.30
01[10:16] {Threei}  invalidated though
01[10:17] {Threei} Short Setup: MS  .15 break
01[10:17] {Threei}  If holds  .25
[10:19] {nemo} ebay should bounce around .80
01[10:20] {Threei}  stop to .21
[10:20] {cipher} meli l .80
[10:21] {cipher} tna l .80
[10:21] {nemo} bastid I got .81
[10:23] {cipher} out 1/2 tna .90
01[10:24] {Threei} Short Setup: JPM  43 break
01[10:24] {Threei}  If holds  .10
[10:24] {cipher} out rest .81
[10:24] {nemo} mmhhh, only .06 stop
[10:24] {nemo} out
[10:24] {cipher} out meli .00 +.20
01[10:26] {Threei}  ket's scratch MS
01[10:26] {Threei}  no clear setup anymore
[10:27] {scottie} out flat
[10:27] {scottie} jpm still valid ?
01[10:28] {Threei}  JPM is actually two-sided
01[10:28] {Threei}  . 10 break long
[10:29] {cipher} meli l .92
[10:29] {cipher} tna l .80
[10:30] {cc_8} Netflix Launches In Sweden, Denmark, Norway And Finland
[10:31] {scottie} rvbd l 21 ?
01[10:32] {Threei}  I think so
01[10:32] {Threei}  World Trade Organization (WTO) rules in favor of US in steel case against China
[10:33] {dino} mlnx sm l .18
01[10:33] {Threei}  glad we scratched MS
[10:34] {dino} mlnx stop -.22
[10:36] {cipher} meli stop -.25
[10:37] {dino} bbt l .60
[10:38] {nemo} asml looks short
[10:39] {cipher} asml s .55
[10:40] {cipher} cov 1/2 +.10
[10:40] {nemo} I like the fig eventually
01[10:40] {Threei}  somewhat listless day so far
[10:40] {dino} algn hl l .50
[10:41] {cipher} cov rest asml .43 thx nemo
[10:41] {nemo} sure
[10:41] {nemo} think it keeps going
[10:42] {cipher} meli l .24
[10:42] {dino} out algn .80, +.30
[10:43] {nemo} see that volume asml, can't push it above, look out below
[10:45] {cipher} tna l .80
[10:46] {nemo} spy looked to weak for me to take tna
[10:46] {nemo} fas
01[10:46] {Threei}  I have to say, this is the least October-like October I've ever seen
[10:47] {nemo} sorry
[10:47] {nemo} It's an October worse than august
[10:47] {nemo} doji on asml
01[10:47] {Threei}  what I mean is, normally market is very determined in Oct
01[10:48] {Threei}  Sept is more confused, looking for direction,
[10:48] {nemo} yeah well Europe, elections and indeterminate earnigs so far
01[10:48] {Threei}  but by Oct market has made up its mind and executes very decidely
01[10:49] {Threei}  this jellyfish-like spooked trading is very unusual for this month
01[10:49] {Threei}  all you listed, yes, plus one more important factor
[10:49] {nemo} btw...83.66 is MOnthly Pivot on IWM
[10:49] {nemo} please...do tell
01[10:50] {Threei}  we got where we got thanks to enormous monetary injection
01[10:50] {Threei}  very unnaturally
[10:50] {nemo} ahhh yes, and there is no more guesswork regarding the clam
[10:50] {dino} out bbt .74, +.14
01[10:50] {Threei}  artificial molve thasnks to intervention ryuins natural instincts of participants intervention
01[10:51] {Threei}  ummm... typing suddenly broke down severely in that line, lol
[10:51] {nemo} DTs?
01[10:51] {Threei}  let me try again
01[10:51] {Threei}  artificial move thanks to intervention ruins natural instincts of participants
[10:52] {nemo} spy at pivot iwm .06 away from pivot
01[10:52] {Threei}  instead of looking at normal factors helping in decision-making, they all focus now on the next round of injection
[10:53] {nemo} aapl short below the fig,
[10:54] {nemo} or play for long break above .50
[10:55] {dino} ltm hl l .51 ave
[10:55] {nemo} Qs IWM walking along MPP SPY at daily pivot
[10:55] {nemo} must be scary stock for dino to take a half lot
[10:55] {cipher} out 1/2 tna .10 +.30
01[10:56] {Threei}  wtg
[10:57] {cipher} ty
[10:59] {nemo} lrcx energizer bunny in 1st gear
01[11:01] {Threei} Long Setup:  CAT  87 break
01[11:01] {Threei}  If holds  .90
01[11:01] {Threei}  target 1:3
01[11:02] {Threei}  let's go kitty
01[11:03] {Threei}  you can do it
01[11:03] {Threei}  1:1
[11:03] {cipher} out 1/4 tna .30 +.50
01[11:04] {Threei}  gj
01[11:06] {Threei}  scalpers win
01[11:06] {Threei}  too bad, this looked like much more than a scalp
[11:07] {nemo} nothing much more than a scalp unless you're buying support today
[11:08] {cipher} tna reload .21
[11:09] {dino} out ltm .81, +.31
[11:09] {dino} opps +.30
[11:09] {cipher} out tna in full .35
[11:09] {nemo} are you sure?
[11:10] {cipher} scaling out of meli .73 +.49
[11:12] {dino} lol
[11:12] {scottie} rvbd stopped -.14
[11:14] {nemo} turning into a grind up day
[11:14] {cipher} out remainder meli .57 +.33
[11:19] {dino} gj
[11:20] {nemo} vmw could be short here
[11:26] {scottie} do you have a target on jpm ?
[11:27] {nemo} vmw gap starts below .32
01[11:27] {Threei}  I don't know what to say
01[11:27] {Threei}  let me put it this way:
01[11:27] {Threei}  my target is that it works at all :)
[11:28] {scottie} :)
[11:50] {nemo} spxu
06[11:53] * Threei kicks JPM in the rear
01[12:00] {Threei}  well
01[12:00] {Threei}  we always knew violence works, right?
01[12:00] {Threei}  I don't know whether it has more upside
01[12:00] {Threei}  I am out
01[12:09] {Threei} Long Setup:  MON  .65 break
01[12:09] {Threei}  hl
01[12:09] {Threei}  If holds  .55
[12:21] {Will49} just not my day
01[12:22] {Threei}  not anyone's in particular I suspect
[12:22] {Will49} actually just not my month:)
[12:23] {Will49} Vad, when this happens, should a newbee keep on taking the alerts for practice or call it a day to keep the losses in check; much like a stop?
01[12:23] {Threei}  I'd simply cut size a bit
01[12:24] {Threei}  or switched to paper
[12:24] {Will49} ok tks
[12:30] {nemo} mmhhh, bullflags indexes
[12:30] {nemo} maybe not
01[12:30] {Threei}  nope
01[12:31] {Threei}  Google Inc Reports Q3 $9.03 v $10.63e, R$14.1B v 11.9Be
01[12:32] {Threei}  that's why
01[12:32] {Threei}  Jobless man sets himself on fire outside Italy presidential palace
[12:34] {nemo} knock down the unemployment rate a bit
[12:36] {nemo} so, they invested alot last quarter...huge revenue beat
01[12:40] {Threei} Short Setup: LVS  46 break
01[12:41] {Threei}  If holds  .10
01[12:51] {Threei}  what the deuce
01[12:56] {Threei}  die LVS
01[12:57] {Threei}  let's trail to .06
01[13:06] {Threei}  half out
01[13:06] {Threei}  fina-frikin-lly
01[13:09] {Threei}  look at GOOG's red candle on daily
01[13:13] {Threei}  1:2
01[13:13] {Threei}  1/4 more out
01[13:13] {Threei}  just when you wrote me off for the day eh?
[13:14] {Will49} and just when I started scalping half lots:)
[13:14] {Will49} Tks Vad  good call
01[13:14] {Threei}  yw
[13:19] {scottie} trip s .40 ?
01[13:20] {Threei}  smaller shares
01[13:20] {Threei}  thin one
[13:23] {scottie} in .38
[13:26] {nemo} we should regain all the losses
01[13:27] {Threei} Long Setup:  CAT  87 break
01[13:27] {Threei}  If holds  .90
01[13:29] {Threei}  btw nemo, I just realized
01[13:29] {Threei}  you promised end of the world on Dec 2?
01[13:29] {Threei}  22
01[13:30] {Threei}  vhange CAT trigger to .90 break
01[13:30] {Threei}  change
[13:37] {nemo} 21st 8:00 pm GMT
[13:37] {dino} bbt l .50
[13:37] {nemo} Anyway, market might be jittery until GOOG announcement
[13:38] {nemo} market thinks there's something to it
[13:38] {nemo} Now if aapl punts...ARMAGEDDON here we come!!!!
[13:39] {nemo} Yahooooooooooooooooooooooooooo!!!!!!!!!!!!!
[13:39] {nemo} Anarchy
[13:39] {nemo} Despair
[13:39] {nemo} Have to watch Lord of the Rings again
01[13:39] {Threei}  that's great
01[13:40] {Threei}  means I'll meet that date on Hawaii
01[13:40] {Threei}  could think of worse places to observe the end of the world from
[13:41] {nemo} I heard Hawaii will be inundated by a Tsunami right after the volcano blows up the chain
[13:42] {nemo} Say "bye" to Kaimu for me, I'm headed to Mongolia with Al
[13:42] {nemo} rats should start deserting the ship about now
[13:43] {Will49} ship of fools will never be deserted
[13:43] {nemo} Hehehehehe....ever read Mencken?
[13:43] {Will49} no
[13:44] {nemo} wrote for the Baltimore Sun...cynical bastard...my hero
[13:44] {Will49} only read Tom Sawyer
[13:45] {Will49} but I'm as cynical as they come
[13:45] {dino} meli sm l .53
01[13:46] {Threei}  Google Inc Confirms Q3 earnings filing was filed early in error; RR Donnelly filed without authorization - Google blog- Notes the company is still finalizing the earnings document. - "Earlier this morning RR Donnelley, the financial printer, informed us that they had filed our draft 8K earnings statement without authorization. We have ceased trading on NASDAQ while we work to finalize the document. Once it's finalized we will release our earnings, resume trading on NASDAQ and hold our earnings call as normal at 1:30PT."
01[13:47] {Threei}  way to add to confusion
[13:47] {Will49} shhheeesh
[13:48] {dino} dxpe drop
[13:49] {dino} meli stop -.24
01[13:51] {Threei}  finally TRIP
[13:51] {scottie} yeah
[13:52] {scottie} half out
01[13:58] {Threei}  rofl
01[13:58] {Threei}  http://www.romneytaxplan.com/
01[13:58] {Threei}  this stupid but funny as hell
[13:59] {scottie} lol
01[14:00] {Threei}  also, the funniest post-debate image: http://patterico.com/files/2012/10/Clinton-Binders-of-Women.jpg
[14:00] {nemo} http://www.businessinsider.com/heres-why-googles-stock-tanked-analysis-2012-10
01[14:01] {Threei}  gosh... this guy won't quit his stupd anal;ysis, ever
01[14:01] {Threei}  The stock is not tanking because the earnings leaked early. If the earnings were good, the market would ignore that.
01[14:01] {Threei}  Read more: http://www.businessinsider.com/heres-why-googles-stock-tanked-analysis-2012-10#ixzz29fu6bUKL
01[14:01] {Threei}  really?
01[14:01] {Threei}  and we thought earl;y release is the reason for stocks to drop, always
[14:02] {dino} meli sm l .19
[14:05] {scottie} bad trip, out
[14:16] {dino} out meli .63, +.44
01[14:17] {Threei}  wtg
[14:17] {Will49} applause
01[14:17] {Threei} Long Setup:  MON  .50 break hl
01[14:17] {Threei}  If holds  .40
01[14:20] {Threei}  Invalidated  MON  for now
01[14:20] {Threei}  may reestablish
[14:31] {dino} bto some bbt nov calls
[14:36] {scottie} becn .95 l ?
01[14:44] {Threei}  hard to tell
[14:45] {scottie} ok
01[14:52] {Threei}  can I change my answer to yes? :)
[14:52] {nemo} aapl looks very short
[14:53] {Will49} please join my woulda, coulda, shoulda world
[14:53] {scottie} Stubborn me jumped in at .97, out at .15 +.18 :)
01[14:53] {Threei}  :)
[14:53] {Will49} stubborn is as stubborn does
[14:53] {Will49} whatever that means
[14:54] {Will49} good instincts scottie
[14:54] {dino} thought it was stupid
[14:54] {scottie} guts feeling whatever that is
[14:54] {Will49} dino...play nice!
[14:54] {dino} as in studid is as stupid does, forest gump
[14:55] {Will49} ooops..sorry dino
[14:55] {dino} lol
01[14:56] {Threei}  I heard they want to re-make it...
[14:56] {Will49} mitt could play the lead
01[14:57] {Threei}  instead of "life is like box of chocolates" new line will be "life is like binders full of women"
[14:57] {Will49} lol
[14:57] {Will49} although he may win in spite of himself
[14:57] {scottie} lol dino
[14:58] {Will49} was just trying to protect you scottie from the bullies:)
[14:59] {Will49} although the bully-in-chief has been quite lately
01[14:59] {Threei}  let's see if we can wake him up
06[14:59] * Threei slaps nemo around a bit with a bottle of vodka
[15:00] {scottie} If I need to be protected against bullies, I have nothing to do here, :)
[15:00] {Will49} ;)
01[15:00] {Threei}  it's just will's way to bully bullies
[15:01] {Will49} whaaaa
01[15:01] {Threei}  today's Gallup, Romeny 52, Obama 45
[15:02] {nemo} since when did a Gypsy get in the race
[15:02] {Will49} lol
01[15:02] {Threei}  lol
01[15:07] {Threei} Long Setup:  VRNG  ,30 break
01[15:08] {Threei}  If holds  .25
03[15:13] * Retrieving #discussions modes...
01[15:15] {Threei}  Google Inc Publishes formal Q3 earnings press release, confirms the numbers in the premature release of the filing; adds CEO comments - CEO comments: We had a strong quarter. Revenue was up 45 percent year-on-year, and, at just fourteen years old, we cleared our first $14 billion revenue quarter, said Larry Page, CEO of Google. I am also really excited about the progress were making creating a beautifully simple, intuitive Google experience across all devices.
01[15:16] {Threei}  (EU) Germany attempting to delay the Banking supervision plan at EU summit - financial press- Reminder: Many countries recently have called for the banking union to implemented quickly, while others have called for caution, requesting it be 'done right'
01[15:20] {Threei}  no go
01[15:20] {Threei}  GOOG is open
01[15:21] {Threei}  although it wishes it remained closed
01[15:22] {Threei}  LVS two-sided setup, .90 - 46
01[15:22] {Threei}  last play for today
01[15:23] {Threei}  if this doesn't work, why push. If does, why tempt fate for more
01[15:24] {Threei}  long it is
01[15:40] {Threei}  move already
01[15:40] {Threei}  what's with chinese water tirture
[15:41] {Will49} also called water "boring"
01[15:42] {Threei}  lol
01[15:46] {Threei}  trail to .94
01[15:48] {Threei}  what is it, superglue at 46?
[15:49] {dino}  calling it a day, slow one but profitable. thx all
01[15:49] {Threei}  take care dino
01[15:49] {Threei}  give a min or two more to this one
01[15:49] {Threei}  stop to .98
01[15:49] {Threei}  either it breaks .03 now ort I lose interest
01[15:51] {Threei}  go
01[15:51] {Threei}  I mean run
01[15:51] {Threei}  I mean fly
01[15:52] {Threei}  good boy
01[15:52] {Threei}  ok whatever
01[15:52] {Threei}  I am out .05
01[15:52] {Threei}  have a good evening guys, see you tomorrow
[15:53] {scottie} gn all, tks Vad