Sep 25 2012

As usual, we did well in dropping market, hitting a few nice short plays. My yesterday's sense of fear accumulating under the market surface materialized nicely today. 

Session Time: Tue Sep 25 00:00:00 2012

[08:38] {nemo} got my gap up so far

01[08:39] {Threei}  Spaon moves closer to apex of problems, bonds underperform in both Soain and Italy auctions... the worse the better

01[08:39] {Threei}  Spain

[08:46] {nemo} and the news is bought...strong market

[08:47] {nemo} case shiller at 9 should be interesting

[08:48] {nemo} if it's good, market rockets

[08:51] {nemo} there's the daily pre market spy stop hunt

[09:03] {jackharry} good morning

01[09:03] {Threei}  morning jack

01[09:03] {Threei}  *(US) JULY S&P/ CASESHILLER 20 CITY M/M: 0.44% V 0.75%E; Y/Y: 1.20% V 1.05%E; HOME PRICE INDEX: 144.61 V 143.70E

[09:03] {scottie} good morning

01[09:04] {Threei}  scottie :)

01[09:04] {Threei}  no reaction at all

[09:04] {nemo} stophunt again

[09:04] {nemo} to downside, must be going north

[09:05] {nemo} frickin' rabbit is nuts this morning

[09:08] {goryl} gm

01[09:08] {Threei}  goryl :)

01[09:13] {Threei}  -Spain Deputy PM Saenz commented that Catalonia is adding a new crisis for Spain. Spain rules out giving Catalonia control of tax revenue. Spain will activate regional liquidity fund this weekend. PM needs to know how much ECB would spend on debt.

01[09:14] {Threei}  (GR) IMF's Lagarde: Delays in implementing Greek bailout are expanding the financing shortfall; May downgrade global growth again

[09:15] {nemo} lvs strong pre market

[09:18] {Beau} gm

01[09:18] {Threei}  beau :)

[09:20] {dino} gm

[09:20] {ese} gm

01[09:21] {Threei}  dino, ese :)

[09:21] {robbers} gm

01[09:21] {Threei}  robbers :)

01[09:21] {Threei}  are charts OK for laser users?

[09:21] {scottie} charts blank here

[09:21] {scottie} trying to contact charles

[09:21] {ese} Ryder Cup week dino..........

01[09:21] {Threei}  not just me then

[09:21] {goryl} i switched chart server

[09:22] {goryl} #4

[09:22] {Will49} gm

01[09:22] {Threei}  and quotes?

01[09:22] {Threei}  will :)

[09:22] {ese} will

[09:22] {scottie} It works, thanks goryl

01[09:22] {Threei}  with which quote server?

[09:23] {goryl} still looking:)

[09:23] {scottie} #4

[09:25] {Beau} #4 seems ok

[09:29] {Beau} quote #6

[09:30] {dptl} gm

01[09:30] {Threei}  dp :)

01[09:30] {Threei} Long Setup:  LVS  .70 break hl

01[09:30] {Threei}  If holds  .60 

01[09:31] {Threei}  yikes

[09:31] {nemo} was gonna' say, two way loooked like

01[09:31] {Threei}  neither, jnust spread jumps

01[09:32] {Threei} Long Setup:  FCX  .60 break hl

01[09:32] {Threei}  If holds  .50 

01[09:33] {Threei}  target 1:2

01[09:34] {Threei}  stop to .54

01[09:35] {Threei} Long Setup:  CAT  89 break hl

01[09:35] {Threei}  1:1 FCX

01[09:36] {Threei}  CAT 1:1 if got it

03[09:36] * Retrieving #discussions modes...

01[09:37] {Threei}  slw

01[09:37] {Threei} Short Setup: SLW  .75 break

01[09:38] {Threei}  If holds  .85 

[09:40] {ese} L rosg .31

[09:41] {dolores} could not login

01[09:41] {Threei}  no go slw

[09:41] {dolores} GM

01[09:41] {Threei}  morning dolores

[09:41] {dolores} please any trade ongoing now?

01[09:41] {Threei}  no

01[09:41] {Threei}  FCX scalpers win

[09:42] {nemo} rht on break above highs

01[09:42] {Threei} Short Setup: AIG  34 break

01[09:42] {Threei}  If holds  .05 

[09:42] {nemo} missed it

01[09:44] {Threei}  AIG short valid

[09:45] {dolores} STOP AT .06?

01[09:45] {Threei}  yes

[09:45] {jackharry} cant short

[09:46] {scottie} can't short it

[09:46] {dolores} me neither

[09:46] {ese} L rosg avg .29

01[09:46] {Threei}  ok... anyone has it available and got it try for about .85

01[09:48] {Threei} Long Setup:  SLW  .85 break

[09:48] {robbers} got aig.

01[09:50] {Threei}  covered any partial yet?

[09:50] {scottie} wag l .20 ?

01[09:50] {Threei}  Invalidated  SLW 

01[09:51] {Threei}  WAG if holds .10

[09:51] {ese} hmmmmm rosg lookin a little too weak......maybe outta here

01[09:51] {Threei}  half out AIG, robbers

[09:51] {robbers} yep.

01[09:52] {Threei}  feel free to cover in full

[09:52] {robbers} out

[09:52] {ese} Lqcor .77

[09:53] {robbers} ty

01[09:53] {Threei}  sure thing

[09:53] {ese} out ..85

[09:53] {ese} +.08

01[09:54] {Threei} Short Setup: GDX  .55 break

01[09:54] {Threei}  If holds  .60 

[09:54] {nemo} COH

[09:55] {nemo} nevermind

[09:55] {nemo} number in 5 take a powder

01[09:56] {Threei}  half out GDX

[09:57] {nemo} looking for iwm/tna long when IWM get's in .00 area

[09:57] {nemo} depending on numbers

01[09:58] {Threei}  +4 v -5

01[09:59] {Threei}  scalpers win GDX

01[09:59] {Threei}  now house prices

01[09:59] {Threei}  .2 v .6

[10:01] {ese} out 1/2 rosg .44 +.15 stop to break even balance

[10:02] {dino} mack sm l .01

[10:03] {dolores} SWKS at break 24?

[10:03] {dolores} if holds .90?

01[10:03] {Threei}  worth a try but keep size small

01[10:04] {Threei}  no more than half lot

[10:04] {dolores} ok

01[10:04] {Threei}  it's a bit jumpy

01[10:04] {Threei}  with any luck, can go for 1:3

[10:05] {dolores} not sure it stayed here

[10:06] {dolores} better wait for your calls 

[10:09] {dolores} MOS lagging behind still red

01[10:09] {Threei} Long Setup:  GKLD  .05 break

01[10:09] {Threei}  GLD

01[10:09] {Threei}  If holds  172 

01[10:09] {Threei}  target .25 - .30

01[10:10] {Threei}  WAG finally

01[10:10] {Threei}  1:1

[10:10] {scottie} took too long, didn't take it :(

[10:11] {dolores} did not see it

[10:11] {ese} out in full rosh .49 +.20

[10:11] {ese} am done for the day

[10:11] {dolores} read the invalidated above and missed the next line!!

[10:12] {dino} gj ese

[10:12] {ese} tks

01[10:13] {Threei}  no go GLD

01[10:14] {Threei} Long Setup:  MOS  .35

01[10:14] {Threei}  ugh, late

[10:16] {nemo} UNP

[10:19] {dptl} vrx .05 long?

01[10:19] {Threei}  don't like the spread

01[10:19] {Threei} Long Setup:  CAT  89 break

01[10:20] {Threei}  If holds  .90 

[10:21] {dolores} too fast for me

[10:21] {scottie} same here

[10:21] {Will49} as me

[10:21] {dolores} went straight to .05

[10:21] {dolores} nice call

[10:21] {dino} fds sm l .22

[10:21] {dino} wide, gappy

01[10:26] {Threei} Long Setup:  CAT  89 break

01[10:26] {Threei}  If holds  .90 

01[10:26] {Threei}  deja vu

01[10:26] {Threei}  Invalidated  

01[10:27] {Threei} Long Setup:  CAT  .80 break

01[10:28] {Threei}  If holds  .70 

01[10:28] {Threei}  dino, watching Z?

[10:29] {dino} stop mack .86 -.15

[10:29] {robbers} cat having a nervous breakdown.

[10:29] {dino} trla drop

01[10:32] {Threei} Long Setup:  CAT  .70 break

01[10:33] {Threei}  double bottom

01[10:34] {Threei}  not holding

[10:36] {dptl} jcp .05 long?

[10:37] {dolores} CAT invalidated?

01[10:38] {Threei}  JCP no, too narrow

[10:38] {dptl} ok

01[10:38] {Threei}  CAT has no recognizable setup here

[10:38] {dolores} ok

[10:38] {dolores} not in

[10:40] {Beau} didn't last CAT trigger then stp?

01[10:40] {Threei} Long Setup:  CAT  .60 break

01[10:40] {Threei}  it did

01[10:40] {Threei}  target 1:3 CAT

01[10:41] {Threei}  1:1

[10:41] {dptl} len 37 long?

01[10:41] {Threei}  yes

[10:42] {dptl} ah...didt get it

[10:43] {scottie} tried to get it too dp, too fast

[10:43] {Will49} good call nevertheless dp

01[10:43] {Threei}  1:2 CAT

[10:43] {dptl} :)

[10:43] {dolores} today not my day

[10:43] {dolores} had a phone call and missed CAT

[10:43] {dolores} well..

[10:44] {Will49} only time I caught CAT was when it went against me

[10:44] {scottie} lol, me too

[10:45] {dolores} pity good entry

01[10:45] {Threei}  1:3

[10:45] {dolores} following it down

[10:45] {dolores} because teh bounce is better

[10:46] {Will49} CAT teaching me all kinds of lessons today

[10:47] {dolores} dino you still in fds?

[10:49] {dino} no stoppped at lod break

[10:50] {scottie} tsla s .50 ?

01[10:50] {Threei}  yes

01[10:50] {Threei}  is it shortable?

[10:51] {scottie} yes

[10:51] {dolores} yes

[10:51] {robbers} not here

[10:52] {robbers} (no shares available)

[10:52] {scottie} order was filled only for 161 shares

01[10:52] {Threei}  revenge for AIG

01[10:52] {Threei}  which you had and we didn't :)

[10:54] {dptl} vz

[10:54] {dptl} oops sorry

[10:55] {dptl} using my laptop...everything on one screen

[10:56] {dptl} oh boy it's going to be  +30 again in here

01[10:56] {Threei}  48% Think Obama Better Understands MiddleClass, 42% Say Romney

[10:56] {nemo} BIDU strong and pulling back, think it sees 116 today

01[10:57] {Threei}  they forgot to insert "how to destroy" I guess

[10:57] {nemo} 116.44 and then the 50sma is at 118.25

[10:58] {scottie} out tsla +.10

[10:58] {robbers} Or "how to screw".

[10:58] {scottie} too soon of course

[10:59] {Will49} the noobie curse of 'too soon"

01[10:59] {Threei}  it had no support down to .25

[11:04] {Will49} scottie..no offence, i was referring to myself (too soon)

[11:04] {dino} fds sm l ave .54

[11:05] {scottie} of "curse"

[11:05] {Will49} lol

[11:05] {nemo} feels like they're gonna' run this

[11:05] {nemo} l tna .21

[11:06] {nemo} BIDU taking off 

[11:08] {scottie} avt l .80 (bmr) ?

[11:08] {dptl} clf .40 long?

01[11:09] {Threei}  AVT yes, hl

01[11:10] {Threei}  CLF, not sure

[11:10] {dptl} missed avt again

[11:10] {scottie} avt went off without me

[11:11] {dptl} :) so fast today...breaks

[11:11] {dolores} nice short tesla

[11:12] {scottie} ty

[11:12] {robbers} yeah, wtg scottie

[11:13] {Will49} you da man scottie:)

[11:13] {scottie} :)

01[11:15] {Threei}  lol:

01[11:15] {Threei}  Plato says that the unexamined life is not worth living. But what if the examined life turns out to be a clunker as well?

[11:15] {nemo} drink?

01[11:16] {Threei} Short Setup: WFC  .50 break

01[11:16] {Threei}  If holds  .55 

01[11:17] {Threei} Short Setup: MCP  .39

01[11:17] {Threei}  If holds  .45 

[11:19] {scottie} wfc still valid ?

01[11:20] {Threei}  if reconsolidates for a fdew min

[11:22] {dolores} MCP not shortable

[11:22] {dptl} mcp no shorts

[11:23] {dolores} WFC ok?

[11:23] {jackharry} dolores, mcp should be shortable in laser, just cant hit bid

[11:23] {scottie} mcp in .39

[11:23] {dptl} you got it?

[11:23] {dolores} jack it does not take it

[11:23] {scottie} yes

[11:23] {dolores} stays blank

01[11:24] {Threei}  WFC, yes

[11:24] {dolores} thxs

01[11:24] {Threei}  try switching route to ARCA

[11:25] {dolores} in ARCA seems fine

[11:25] {dolores} is it on MCP?

01[11:25] {Threei}  for MCP, yes

[11:25] {dolores} mean triggered?

[11:25] {dolores} yes

[11:26] {dolores} in WFC

[11:26] {scottie} in .49

[11:28] {dolores} stop .56?

[11:28] {dolores} or .60?

01[11:28] {Threei}  .56

[11:29] {Will49} I need to go away and reexamine my life

[11:29] {Will49} or drink

[11:31] {dptl} what about avt .10 long?

01[11:31] {Threei}  nah

01[11:31] {Threei}  this move ran its course

[11:32] {dptl} k

01[11:33] {Threei}  MCP, with any luck should be good for .20 - .25

[11:36] {dino} out fds .85 ave, +1.33

[11:36] {scottie} wow

[11:36] {Will49} oooowwwweeee

[11:36] {dolores} nice

[11:36] {dino} thx

[11:40] {scottie} aria s .60 if holds .65 ?

01[11:42] {Threei}  yes

[11:43] {scottie} in .59

[11:43] {scottie} small

01[11:44] {Threei}  see AVT smackdown?

[11:44] {dptl} ye

[11:48] {dolores} WFC again with a stop at .60?

[11:48] {dolores} market slowing down

01[11:48] {Threei}  .55 trigger? look right

[11:50] {dptl} come one aria...die...

[11:51] {Will49} sing the song of death

[11:51] {dptl} got to use that stick

[11:54] {scottie} mcp half out

01[11:54] {Threei}  good boy MCP

01[11:55] {Threei}  takes its sweet time but works

[11:55] {dptl} nice..i could t short it niether with arca

01[12:00] {Threei}  covered in full

01[12:00] {Threei}  .22

[12:01] {scottie} mcp +.17 tks Vad

01[12:01] {Threei}  :)

[12:01] {jackharry} out at .22, +.18, thanks

01[12:02] {Threei}  yw

01[12:02] {Threei}  smooth and easy

[12:02] {scottie} good trade to train patience

[12:06] {scottie} Vad, could I borrow your 2X4 for aria?

[12:07] {dptl} ye

06[12:07] * Threei mails 2x4 to scottie

[12:07] {scottie} scottie hits aria on the head with Vad's 2X4

01[12:08] {Threei}  this is my prized one, incrusted with gothic letters "death be with you"... please send it back when done

[12:11] {scottie} sent it back to you, guess I don't know how to use it

[12:12] {cc_8} swing

[12:16] {scottie} cvs .10 if holds .15 ?

01[12:18] {Threei}  not sure

[12:18] {scottie} ok

01[12:18] {Threei}  WFC finally starts showing signs of death

01[12:18] {Threei}  cover half

[12:20] {dptl} coh 55 short?

01[12:21] {Threei}  think so

01[12:22] {Threei}  Potash Corp. About 20 miners said to be trapped underground at Rocanville potash mine in askatchewan after a fire in the mine - Canada press- The fire broke out at 02:00ET. 29 miners underground were told to move to a refuge stations after the fire broke out. Nine so far have been brought up from the refuge station. - Rescue teams are still fighting the fire which was started in a cable reel inside the mine.

01[12:23] {Threei}  I see no news for these sharp drops in SPY

[12:31] {scottie} coh s 55 if holds .10 ?

[12:31] {dptl} :)

01[12:32] {Threei}  12:20] {dptl} coh 55 short?

01[12:32] {Threei}  [12:21] {Threei} think so

[12:32] {scottie} oh !!

[12:35] {dptl} ok it's time aria...

01[12:36] {Threei}  (GR) ECB's Asmussen rejects concept of erasing parts of Greece debt- germany press

01[12:37] {Threei}  US) Fed's Plosser: Concerned the Fed at some point would be foced to sell asset- Does not believe the Fed can do much if growth remains weak.

01[12:39] {Threei}  remember my yesterday's incoherent musings about some fear brewing under the market surface?

01[12:39] {Threei}  this feeling increases by day

01[12:39] {Threei}  ARIA... start covering

[12:40] {dptl} out half

[12:41] {scottie} 100 shares only, waiting for +.10

01[12:41] {Threei}  here it is

[12:42] {scottie} there

[12:42] {dino} vxx l .70

[12:42] {dptl} scotty it's almost half a bottle of Stolychnaya :)

[12:43] {scottie} lol

[12:43] {dptl} bidding .41 for second part

[12:43] {dino} i do enjoy a stoly

[12:43] {dptl} me too :)

[12:45] {scottie} cvs .96 l ?

01[12:45] {Threei}  perverts

[12:45] {dptl} roflol

01[12:45] {Threei}  hmmm

01[12:45] {Threei}  nah, not liking this setup

[12:46] {scottie} ok

01[12:46] {Threei}  liking Stly in thw rold that offers Russian Standard, Iceberg, Grey Goose or Finlandia is just wrong

01[12:46] {Threei}  in thr world

[12:47] {dptl} i like finlyandiya too, but it's like everyday vodka for me

01[12:48] {Threei}  and Stoly is premium one??

[12:48] {dptl} yep....well for me :)

01[12:48] {Threei}  anfd there is such thing as "everyday vodka"?

01[12:48] {Threei}  I stand corrected - you are incorrigible pervert :)

[12:48] {dptl} lol

01[12:49] {Threei} Short Setup: MOS  .70 break

01[12:49] {Threei}  hl

01[12:50] {Threei}  If holds  .80 

[12:57] {dino} out vxx flat

01[12:59] {Threei}  1:1

[12:59] {robbers} out at .61

[13:00] {scottie} out .59 + 10 ty Vad

01[13:00] {Threei}  yw

01[13:01] {Threei}  just gathering lunch crumbles here and there

[13:03] {dptl} swk .10 long?

01[13:03] {Threei}  small shares

01[13:04] {Threei}  jumpy one

[13:04] {dptl} k

[13:09] {dptl} spn .90long?

[13:10] {dolores} vad how did you know that MOS brea?

01[13:10] {Threei}  MOS 1:2 for more patient ones

[13:11] {dolores} is weak even with market trying to bounce

01[13:11] {Threei}  sorry dolores, not sure I understand question

[13:11] {dolores} would have thought was more a wait and buy play

01[13:11] {Threei}  SPN 50/50

01[13:12] {Threei}  this is not really the way my thinking goes...

01[13:12] {Threei}  I watch fir setup to shape up

01[13:12] {Threei}  in this case it was a short setup that formed and triggered

01[13:13] {Threei}  there are a few setups I play,

[13:13] {robbers} Dolores, Vad's course on 111 trades is really helping me with pattern recognition.

01[13:13] {Threei}  my whole process of hunting for a trade comes to waiting for one of those to appear

[13:13] {dolores} ok

01[13:13] {Threei}  glad you like it robbers

01[13:14] {Threei}  out of everything I've written, this one is the most pragmatic one, as "shortcutty" as it gets

01[13:14] {Threei}  while A Taoist Trader is as "in-depth" as it gets

01[13:15] {Threei}  so I have all bases covered :)

[13:15] {scottie} avt l .14 if holds .05 ?

01[13:17] {Threei}  I think upside is limited on this

01[13:17] {Threei}  not worth the risk

[13:17] {scottie} ok

[13:21] {goryl} Vad, was the MOS play an inverse c&h?

01[13:21] {Threei}  you can view it as aggressive entry on inverted C&H, yes,

01[13:21] {Threei}  or as short into bounce

[13:22] {goryl} k, thanks

01[13:32] {Threei}  (GR) Grece Fin Min: Loan extensions may cost approx �13-15B- Note: Reports last week indicated that some creditors may be evaluating another debt haircut in order for the country to achieve sustainability

01[13:33] {Threei}  another debt haircut will take it to around waistline

[13:37] {dino} didn't they already cut private debt by 90%?

01[13:39] {Threei}  and called it haircut while I suggested "beheading"

[13:40] {scottie} wm .25 if holds .30 ?

01[13:41] {Threei}  setup is there but it's a struggle for 5 cents

[13:41] {scottie} ok

01[13:42] {Threei}  Spanish police clash with 'Occupy Congress' protesters near parliament in Madrid

01[13:42] {Threei}  did we export those idiots to Spain? or they have their own?

01[13:43] {Threei}  I mean if those are ours, we could chose less pleasant country to export them to

[13:43] {dptl} big .25 long?

[13:43] {dptl} or .20 short?

01[13:44] {Threei}  short setup looks better but it traveled quite enough already...

01[13:44] {Threei}  maybe for a quick scalp

[13:44] {dptl} ye....i'll skip it

[13:46] {dptl} met

[13:46] {dptl} .20 ?

[13:47] {dptl} short

01[13:47] {Threei}  yup

[13:48] {dptl} with stop .30? 

01[13:49] {Threei}  if it drops and triggers from here, can use .26

[13:49] {dptl} ok

[13:51] {nemo} cat

01[13:55] {Threei}  BIG delivered if anyone went for it

[13:55] {nemo} cat worth a shot to break below .00 if it does, I think it drops fast

[13:55] {nemo} stop above .10

[13:56] {nemo} having said that spy iwm look like ready to pop

[13:59] {dptl} invalidated met

[14:01] {scottie} coh l .90 if holds .80 ?

01[14:01] {Threei}  feels like a trap

[14:02] {nemo} I concur

01[14:02] {Threei}  not liking it

01[14:02] {Threei}  I'd rather short it

[14:02] {scottie} Please explain

[14:02] {nemo} but go ahead Scottie, we liek to watch

01[14:02] {Threei}  lol

01[14:02] {Threei}  look at 13:56 sharp red bar

01[14:02] {Threei}  volume spike

01[14:03] {Threei}  then slow recovery, volume drops

01[14:03] {Threei}  14:01, another red bar eliminating recovery, volume spikes again

[14:03] {nemo} no capitualtion volume

01[14:03] {Threei}  its high is lower

[14:03] {nemo} market is weak

[14:03] {dptl} bbby .28 short?

01[14:04] {Threei}  another series of slow upticks, volume dries up

01[14:04] {Threei}  this is all a materrial of downtrend continuation, not a bounce

[14:04] {scottie} I see it clearly, thanks

[14:04] {nemo} yeah dp

[14:05] {nemo} stop .38?

01[14:05] {Threei}  it's a bit cumbersome in words, but with little experience you just see that formation is not right

01[14:05] {Threei}  BBBY, chart is right but not much room for profit

[14:06] {dino} alex spike

[14:07] {nemo} well, all the Jews left for Yom Kippur

[14:09] {dino} alex sm s .06 stop hod

[14:10] {Beau} how will you play the spike nemo-sht 30?

[14:12] {nemo} would have

[14:12] {nemo} market getting very sloppy

[14:14] {dino} nus drop

[14:15] {Beau} should have asked dino, sorry 

[14:16] {dino} cov alex .76, +.30

[14:17] {Will49} nice to watch

[14:19] {nemo} short .99 cat

[14:20] {nemo} looking for .50ish

[14:20] {dptl} nav .65 short?

[14:20] {nemo} bidding .86 for some

[14:21] {nemo} ok

[14:21] {nemo} stop is .06ish

01[14:21] {Threei}  (CY) Cyprus said to be unlikely to receive bailout loan from Russia - financial press

[14:27] {dptl} bhi .40 short?

01[14:28] {Threei}  I'd do .45 aggressive

[14:28] {dptl} and what about nav .65 s?

01[14:30] {Threei}  yup

[14:30] {goryl} see you all tomorrow

01[14:30] {Threei}  take care goryl

[14:33] {dptl} nav invalidated

01[14:36] {Threei}  ditto BHI

[14:36] {dptl} ye

[14:37] {scottie} kors .80 l ?

01[14:38] {Threei}  I'd prefer pullback and entry around .60, for a clear double bottom

[14:38] {scottie} ok

[14:38] {dptl} what do you think about big now?

[14:39] {Will49} are you asking if size counts?

[14:39] {dptl} lol will

[14:39] {Will49} ooops, sorry

[14:40] {dptl} is it time to long on it?

[14:41] {dptl} not yet 

[14:41] {Will49} your'e talking to yourself dp

[14:42] {Will49} always a bad sign:)

[14:42] {dptl} well...dp people ...you know

01[14:42] {Threei}  I am very careful answering dp this kind of questions, ever since he asked me about the size of my monitor couple years ago

[14:42] {Will49} he he

[14:43] {dptl} :)

[14:48] {dptl} gmcr .50 long?

01[14:49] {Threei}  too fast

[14:49] {dptl} ye

[14:56] {dolores} is it me or feels like  market down 100 or more

01[14:56] {Threei}  -50, but it started positive

01[14:56] {Threei}  so...

01[14:56] {Threei}  (EU) ECB's Weidmann: Sees OMT bond buying program could do more negative than positive over the long-term - financial press

01[14:56] {Threei}  duh

[14:59] {scottie} nav s .60 ?

01[14:59] {Threei}  I think so

01[15:00] {Threei}  anf if it bounces here, I'd start looking for agressive entry

01[15:00] {Threei}  'cause me thinks we are to see more selling

[15:01] {dptl} clf 39 s?

01[15:02] {Threei}  yes

01[15:02] {Threei}  hl

01[15:02] {Threei}  pulp

[15:02] {dptl} missed sigh

[15:02] {dptl} oh got it now

01[15:02] {Threei}  offer .98

01[15:03] {Threei}  or hit .99 now

[15:03] {dptl} .10 stop?

01[15:03] {Threei}  .15

01[15:03] {Threei}  pukp

01[15:03] {Threei}  pulp

01[15:03] {Threei}  target about 45 - .50 cents if we get what I think we are about to get

[15:04] {dptl} that would be good

01[15:04] {Threei}  which is, to irritate the heck out of nemo, cascade

01[15:05] {Threei}  1:1

[15:05] {dptl} half out

01[15:05] {Threei}  stop to .03

[15:05] {nemo} pisdah

[15:06] {dptl} lol

01[15:06] {Threei}  yes colleague

[15:06] {nemo} hehehehe

01[15:06] {Threei}  :)

01[15:07] {Threei}  cascade, I an telling you... cascade...

06[15:09] * Threei hits CLF over the head with 2x4

01[15:09] {Threei}  effective swing

01[15:09] {Threei}  1:2

[15:09] {dino} guess i should've held vxx

[15:09] {dptl} out .66

[15:10] {dptl} ty

01[15:10] {Threei}  whimp

01[15:10] {Threei}  yw though

[15:10] {Will49} wtg dpti

01[15:10] {Threei}  look at my cascade

[15:10] {dolores} well now 100 real

[15:10] {dino} gj

01[15:10] {Threei}  told ya...

[15:10] {scottie} half out nav

01[15:10] {Threei}  a lot of fear was brewing

01[15:10] {Threei}  and still is

[15:12] {scottie} missed clf by a few seconds, good job dp

[15:12] {dptl} ty

01[15:12] {Threei}  wow... it bounced for secondry entey

[15:12] {dptl} ye i got on that pull back

[15:13] {scottie} was working on nav at the time

[15:13] {dino} alex sm s .32, stop .55

[15:13] {dolores} any entry CAT on bounce?

01[15:14] {Threei}  it forms db here

[15:14] {dolores} too late

[15:14] {nemo} bounced off 50 sma

[15:16] {dolores} now new sell off

[15:18] {scottie} gotta go, will be back tomorrow, good night all

[15:18] {Will49} be good scottie

[15:18] {scottie} no way

[15:19] {Will49} :D

01[15:21] {Threei}  take care scottie

01[15:22] {Threei}  Spanish police fire rubber bullets at anti-austerity protesters in Madrid

01[15:22] {Threei}  Greece, round 2

01[15:22] {Threei}  coming soon to country near you

[15:22] {Will49} can't even afford real bullets

01[15:23] {Threei}  reminded me a saying from Stalin times... "warning shot to the head"

[15:23] {robbers} lol

[15:23] {nemo} short covering into Yom Kippur could be strong

[15:26] {nemo} oh oh

01[15:27] {Threei}  I know how I can make nemo physically ill with one line

[15:27] {dptl} .65 l anf?

01[15:27] {Threei}  "cascade of dangling prepositions"

[15:27] {nemo} Hytraya Jopa

01[15:27] {Threei}  hard to tell ANF

[15:28] {dptl} lol nemo...getting better and better

[15:28] {nemo} I hear it all the time

[15:30] {dolores} on my watchlist the only green is JCP

[15:30] {dolores} has been hammered so much that now is green!

[15:31] {dino} cov alex .22 +.10

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

01[15:35] {Threei}  hl

01[15:35] {Threei}  If holds  .50 

[15:36] {dptl} in

[15:39] {dptl} out

[15:40] {dptl} ?..oops put wrong bid.....oh well...ty 

01[15:40] {Threei}  1:1

01[15:44] {Threei}  I just love this action

01[15:44] {Threei}  if this is sign of how October is going to be, I am salivating

01[15:45] {Threei}  1:2

01[15:45] {Threei}  me out

01[15:45] {Threei}  me happy

[15:45] {robbers} me too

01[15:45] {Threei}  day started a bit on a rocky side, what with fast moves hard to catch

01[15:45] {Threei}  and ended on a very jazzy note

01[15:45] {Threei}  interesting thing to me is,

[15:46] {Beau} no fills all afternoon with ARCA.  Hope that changes

01[15:46] {Threei}  you can shoot me, i can't tell where the sense of "fear brewing underneath" came from

01[15:46] {Threei}  but it was very distinctive

01[15:47] {Threei}  not even when they came back for secondary entry, beau??

01[15:47] {Threei}  both CLF and CAT did

[15:47] {Beau} nope.  and using laser

01[15:47] {Threei}  went over trigger, so it just had to be executed

01[15:47] {Threei}  I don't understand

[15:47] {Will49} ARCA worked all day for me

01[15:47] {Threei}  if you offer .38 and it goes to to .42

01[15:48] {Threei}  how can it not hit your offer?

[15:48] {Beau} was looking at it and just go by without even a hello

[15:48] {dptl} that is strange

[15:48] {dolores} many times i have two or three cents worse than market and it does not fill

01[15:48] {Threei}  something isn't right woth the way you route

01[15:48] {Threei}  wait

[15:48] {Beau} really confused.  sometimes offer not shown in ending box

01[15:49] {Threei}  do you have "route out" boxes checked?

[15:49] {Beau} pending

[15:49] {dolores} beau {i was told to change switch quote server on the menu above

[15:49] {dolores} laser as well

[15:49] {Beau} i'll check.  no problem earlier.

[15:49] {dolores} and change that whole column

01[15:49] {Threei}  rght click on level 2

[15:49] {dolores} charts, stast etc

01[15:50] {Threei}  look at the route out boxes in the right lower part

01[15:50] {Threei}  are they checked?

01[15:51] {Threei}  right column, middle section

[15:51] {Beau} nothing checked

01[15:51] {Threei}  OK

01[15:51] {Threei}  that's the reason

01[15:52] {Threei}  check them all

01[15:52] {Threei}  if they are not, ARCA will hit another ARCA only

01[15:52] {Threei}  if they are, it swipes everything

01[15:52] {Threei}  that's why they passed by you without saying hello - no one used ARCA at the moment

[15:53] {Beau} will do. son of a b  don't know it has been that way. 

[15:53] {Beau} must have just been lucky in past.

[15:53] {Beau} thanks vad.  appreciate it.

01[15:54] {Threei}  sure thing

[15:54] {dptl} see ya tomorrow all....good evening

[15:54] {Beau} you are as nice as nemo

[15:55] {Beau} wait, is that a compliment?

[15:55] {Will49} bye everyone...tomorrows another day (duh)

[15:55] {dolores} bye guys thxs

[15:55] {dolores}  see you tomorrow

[15:55] {dolores} I am off thursday and friday

[15:55] {dolores} going to Bibao

[15:56] {dolores} Bilbao

01[15:56] {Threei}  thank you all, have a good evening

01[15:56] {Threei}  see you tomorrow

01[15:56] {Threei}  I am not going to Bolbao but will be off too :)

[15:56] {dino} gn all, see you next week. 

[15:57] {Beau} nemo, have a minute?

Sep 24 2012

 Started the day shaky, caught up and turned into nicely positive later on, and finished with couple stops - all in all, slightly positive, nothing interesting happened.


Session Time: Mon Sep 24 00:00:00 2012
[07:38] {nemo} sheesh...what happened to QCOR?
[08:59] {goryl} gm
01[08:59] {Threei}  morning goryl
01[09:01] {Threei}  nemo... to answer you question earlier,
01[09:01] {Threei}  QCOR down 30% in the pre-markets on news of a U.S. Govt probe.
[09:02] {nemo} ahhh...been a rollercoaster
[09:02] {nemo} Google Chrome has become quite the resource hog
01[09:03] {Threei}  it may be one of extensions
01[09:04] {Threei}  a few weeks ago I went over them and killed non-essential ones, performance improved dramatically
[09:04] {nemo} I killed them all and the plug-ins...nope
[09:05] {jackharry} good morning
01[09:05] {Threei}  jack :)
01[09:05] {Threei}  mine takes about 2% memory, 11 tabs running
[09:08] {scottie} gm
01[09:09] {Threei}  acottie :)
[09:09] {dolores} hello GM
01[09:09] {Threei}  dolores :)
[09:19] {dino} gm
01[09:19] {Threei}  dino :)
[09:20] {Will49} gm
[09:20] {Beau} good morning all
01[09:21] {Threei}  will, beau :)
[09:25] {ese} gm
01[09:25] {Threei}  ese :)
[09:27] {nemo} qcor what a rollercoaster
[09:28] {ese} i'll say.........
01[09:29] {Threei}  damaged goods
[09:29] {ese} not sure i get the drift of it.........mostly becasue they can't get insurance on a product/experimental drug?
01[09:30] {Threei}  U.S. Govt probe today
01[09:31] {Threei} Short Setup: SLW  39 break
01[09:31] {Threei}  If holds  .10
01[09:32] {Threei} Short Setup: FCX  .10 break
01[09:32] {Threei}  If holds  .20
[09:33] {nemo} kbh offer
[09:33] {nemo} .26 had big offer
[09:33] {nemo} there it is
[09:33] {dolores} dont know why my computer restarted on its own
[09:33] {dolores} any calls?
[09:33] {nemo} gremlins
01[09:33] {Threei}  FCX just triggered
01[09:34] {Threei}  short
01[09:34] {Threei}  still valid if stays under .20
[09:34] {ese} pfe
01[09:34] {Threei}  SKW not ready yet but keep on radar
[09:37] {dolores} SKW?
[09:37] {dolores} or SLW?
[09:37] {nemo} slw
01[09:38] {Threei} Short Setup: SLW  .40 break
01[09:38] {Threei}  If holds  .45
01[09:39] {Threei}  FCX not a scalp, should be 1:3er
01[09:39] {Threei}  cover half SLW here
[09:39] {nemo} nsc .85 level
01[09:39] {Threei}  stop to .41
[09:39] {nemo} GS trading at bottom of range
01[09:40] {Threei}  no go FCX
[09:42] {ese} Lrmbs
[09:42] {ese} .51
[09:42] {ese} RMBS
[09:42] {nemo} LVS going...they took advantage of this weakness and are buying
[09:44] {dptl} gm
01[09:44] {Threei}  dp :)
01[09:46] {Threei} Long Setup:  X  .45 break
01[09:46] {Threei}  If holds  .40
01[09:47] {Threei}  Invalidated
[09:48] {ese} L RMBS avg .52
[09:49] {dolores} QCOR government investigation on promotional practices when it rains it pours
01[09:49] {Threei}  yup
[09:50] {scottie} tivo s 10 ?
01[09:50] {Threei} Long Setup:  MON  .10 breaj hl
01[09:50] {Threei}  If holds  91
01[09:50] {Threei}  target 1:3
01[09:51] {Threei}  TIVO rather looks bounce-ready
[09:52] {scottie} I see
[09:53] {ese} out rmbs .67 +.15 on 3k
01[09:54] {Threei}  wtg
[09:54] {ese} have to go in early all ...cya tomorrow
[09:54] {ese} tks vad
01[09:54] {Threei}  take care ese
[09:54] {nemo} why'd he bother to come in?
[09:54] {dino} he missed you
[09:54] {nemo} nice...wise ass answer
01[09:55] {Threei}  dolores got the tune perfectly :)
[09:56] {dolores} yes
[09:57] {dino} asml sm l .15
[09:58] {dolores} mon stopped
01[09:58] {Threei}  no go
[10:00] {nemo} lvs
[10:01] {nemo} had to enter before the break
[10:02] {dptl} cog .10long?
01[10:03] {Threei}  too narrow
[10:03] {dptl} ye, i see that now ty
[10:03] {scottie} intc l. .70 ?
01[10:04] {Threei}  nah
01[10:04] {Threei}  I'd rather look to short it
[10:04] {scottie} ok
01[10:05] {Threei}  .65 break
01[10:05] {Threei}  aggressive for .60
01[10:05] {Threei}  look at both intraday and daily
[10:07] {scottie} in .65
[10:07] {scottie} small
01[10:09] {Threei} Long Setup:  CAT  .25 break hl
01[10:09] {Threei}  Invalidated
[10:12] {dino} fds spike
01[10:12] {Threei} Short Setup: GLD  .95 break hl
01[10:13] {Threei}  If holds  .05
01[10:14] {Threei}  .60 is getting hit
01[10:14] {Threei}  on INTC
[10:17] {dptl} db .10short?
[10:17] {dino} asml stop -.29
01[10:17] {Threei}  GLD 1:1
[10:22] {dino} deck sm l .00
[10:22] {dptl} expe short?
01[10:22] {Threei}  .10 break,... worth a try but keep size small
01[10:23] {Threei}  INTC, cover first bit
[10:24] {scottie} 100 shares only, out +.10
01[10:26] {Threei}  why such size, INTC is not a dangerously thin stock
[10:27] {jackharry} out half INTC at .52, any target for balance?
01[10:29] {Threei}  it hasn't been this low since Nov 2011
01[10:29] {Threei}  nothing on reasonable time frame charts to indicate a valid support
01[10:30] {Threei}  doesn't react on market spikes
01[10:30] {Threei}  I'd say, let's cover another peice at 1:2 if it gets there, and then just trail
[10:30] {nemo} looks like we'll grind to close the gap
[10:30] {jackharry} ok, thanks
01[10:30] {Threei}  let it decide where it wants to halt the decline
01[10:31] {Threei}  *(US) SEPT DALLAS FED MANUFACTURING ACTIVITY: -0.9 V -1.6 PRIOR
[10:31] {dptl} stopped expe
[10:33] {dptl} fnsr .45 short?
01[10:34] {Threei}  no read, too low volume
[10:35] {jackharry} covered balance at .59, booked the profit after the 2 stops, thanks
01[10:35] {Threei}  yw
[10:36] {dptl} expe rinsed me
[10:36] {dino} i'm getting rinsed alot ths month dp
[10:37] {dino} 07 green
[10:37] {nemo} finnies green
01[10:38] {Threei} Long Setup:  GLD  .15 break
01[10:39] {Threei}  .05 stop
01[10:39] {Threei}  target 1:2
[10:41] {dino} can't take 'em down, gut says up they go
[10:41] {nemo} trend is ur friend
[10:41] {nemo} cnx
[10:41] {nemo} sorry
[10:42] {dptl} met .60 long?
01[10:42] {Threei}  stop to .09
01[10:43] {Threei}  I think so
01[10:44] {Threei} Long Setup:  AIG  .80 break
[10:44] {dino} ssys sm l .25 trig
01[10:46] {Threei}  GLD 1:1, half out
01[10:46] {Threei}  stop to .14
01[10:47] {Threei}  AIG 1:1
01[10:48] {Threei}  life looks brighter
[10:48] {scottie} target aig ?
01[10:48] {Threei}  1:2
[10:49] {dptl} nice aig...missed it steped out for a min
[10:54] {nemo} grind up, probably to weekly pivots 146.25 spy and 85.45 iwm
01[10:55] {Threei}  1:2
[10:56] {scottie} +.18 ty Vad
01[10:56] {Threei}  :)
[10:56] {thomcbell} nice AIG - Vad - funny i turned on my computer and it jumped out at me at the same time
[10:56] {robbers} ty
01[10:56] {Threei}  :)
01[10:57] {Threei}  GLD 1:2
01[10:57] {Threei}  out
01[10:57] {Threei}  life's good again
[11:01] {scottie} pfe l .70 ?
01[11:01] {Threei}  yes but don't count on much
01[11:04] {Threei} Short Setup: GLD  .20 break hl
01[11:04] {Threei}  If holds  .30
[11:08] {Beau}  1:2 ?
01[11:09] {Threei}  can't tell
[11:12] {dino} swks sm l .50
01[11:13] {Threei}  1:1
[11:13] {scottie} +.12 ty Vad
01[11:13] {Threei}  yw
[11:14] {jackharry} out at .02, thanks
01[11:14] {Threei}  Monday fog dissipated quickly... tunrs into a nice day
01[11:14] {Threei}  welcome guys
[11:14] {robbers} ty again
[11:23] {scottie} btu l .35 ?
01[11:24] {Threei}  I doubt it
01[11:25] {Threei}  looks like striggle for 5 cents
01[11:25] {Threei}  struggle
01[11:32] {Threei}  (EU) Finland Fin Min Urpilainen: Nations not trusting each other and markets not trusting political actions are creating a lack of confidence and the continuing crisis
[11:32] {nemo} bbby
[11:37] {dptl} swks .50short?
[11:39] {nemo} kors .35
[11:40] {dptl} in .48 swks
[11:41] {dolores} nemo you short?
[11:42] {nemo} looks short here was looking for .70 area to short into
[11:43] {nemo} chop and slop day
[11:49] {nemo} pivot and vwap converging .80ish area kors
[12:02] {nemo} ddd
[12:02] {nemo} damn
[12:04] {nemo} ntap
[12:04] {nemo} looks short
01[12:10] {Threei}  something is brewing underneath this market
[12:10] {nemo} looked for cannot be, listened for it cannot be heard, it's turmoil submerged
[12:10] {nemo} its
[12:11] {dptl} half out swks
01[12:12] {Threei}  these periods of activity disappearance are uncharacteristic for this time
[12:12] {dptl} takes foreever
[12:13] {nemo} probably like this until earnings season shows what's going on
01[12:13] {Threei}  feels like a whole lot of fear is being slowly amassed
[12:13] {nemo} or December 21st, whichever comes first
[12:13] {nemo} Hey dino,  Revis tore his ACL
[12:17] {dino} bummer
[12:17] {nemo} tna might be worth a try here
[12:30] {dino} i think sept is slower moving than aug was
[12:37] {nemo} yep
01[12:42] {Threei} Long Setup:  KORS  .50 break hl
01[12:42] {Threei}  If holds  .40
01[12:44] {Threei} Long Setup:  POT  .75 break
01[12:46] {Threei}  1:1 KORS
[12:53] {dptl} stop for pot will be is under .70?
01[12:53] {Threei}  .68
[12:53] {dptl} ok
[12:55] {dino} bth sm l .30
[12:57] {scottie} doc appointment, will try to get back before close
[12:57] {Will49} BOHICA
[12:58] {dptl} lol
[12:58] {scottie} yeah, right
[13:09] {dolores} pot still on?
01[13:09] {Threei}  weirdness takes over:
01[13:09] {Threei}  44% Think #Ryan Better Suited to Be President, 44% Say Same of #Biden
[13:10] {dolores} POT on?
01[13:12] {Threei}  no, but will be if stays between .70 and .75 for 3-5 min
01[13:18] {Threei}  Iranian President Ahmadinejad, in NY, says existence of Israel is a passing phase in Mideast history
[13:19] {dptl} met .30 short?
01[13:20] {Threei}  I think so but go for a quick scalp
01[13:20] {Threei}  maybe not even 1:1
[13:20] {dptl} ok
[13:20] {dptl} with stop  above .05
[13:21] {dptl} .35
01[13:25] {Threei}  Pot decriminalization debated by B.C.'s municipal leaders
01[13:25] {Threei}  that flag may become legal
[13:25] {Will49} yaaaaaa
[13:26] {dptl} ah...stopped met
[13:26] {Will49} the way POT has been trading this morning is criminal also
[13:28] {dino} deck sm l .75
[13:34] {dptl} gmcr .95 short?
01[13:35] {Threei}  can't tell
[13:37] {dolores} any other news on QCOR besides this morning breaking down again
[13:38] {dolores} lots of downgrades
[13:41] {nemo} dltr
[13:41] {nemo} ffiv
[13:41] {nemo} sorry
[13:42] {dino} deck stop
[13:43] {nemo} break the keyboard yet Vad?
01[13:43] {Threei}  why would I
[13:43] {nemo} your chin hitting it as you fall asleep
[13:45] {Will49} no response....must really be asleep
01[13:49] {Threei}  no, I just couldn't understand it, then I realized than nemo assumes I ever take my chin off the table
01[13:49] {Threei}  which I don't
[13:49] {dptl} nemo, you thinking .25 long dltr?
[13:58] {nemo} sorry,  was
[13:58] {nemo} this is algo chop day
[14:03] {goryl} see you tomorrow everyone
[14:03] {nemo} tpx
01[14:04] {Threei}  take care goryl
[14:09] {dptl} tpx .05?
01[14:10] {Threei}  ?
[14:11] {nemo} that would be reasonable
[14:11] {dptl} was looking at nemo's tpx ....was thinking break of .05 long
01[14:12] {Threei}  was .08 x .10 when I looked
01[14:18] {Threei}  Report: Some Facebook users see private messages published on timeline profiles from 2007-09
01[14:18] {Threei}  good thing I haven't discovered it up to 2011
01[14:20] {Threei}  NYSE volume 295M shares, about 15% below its three-month average
[14:21] {dolores} are we goig green today
[14:21] {nemo} probably
01[14:22] {Threei}  I think we are li8kely to get smacked as approach the gap
[14:22] {nemo} weekly pivot in IMW is .05 below flat, spy is 146.25
[14:23] {dptl} clf .30 long if stays above .20?
01[14:26] {Threei}  I'd prefer conservative entry
01[14:26] {Threei}  around .20 if pulls back
[14:26] {dptl} half out
[14:32] {dptl} out some more .43
[14:32] {dptl} want last above .50 may be
[14:36] {nemo} spy challenging the highs for the day
[14:36] {robbers} wtg dp.
[14:36] {Will49} way to go DP
01[14:37] {Threei}  nice
[14:37] {dptl} ty
[14:39] {dino} bth to .76
[14:40] {dino} out bth .73 ave +.41
[14:41] {dptl} out last .70 +.39
[14:42] {Will49} nice trading, you two
[14:46] {dolores} qcor nice bounce
[14:47] {nemo} yep, we're gonna go positive on spy financials are testing tehir highs, and likely to go to the WPPP
[14:50] {nemo} We gap up tomorrow
[14:52] {dino} end of quarter markups?
01[14:57] {Threei} Short Setup: CLF  .70 break hl
01[14:57] {Threei}  If holds  .80
01[15:00] {Threei}  no go
[15:14] {nemo} cree
[15:15] {nemo} at 200 SMA
[15:15] {nemo} and whole number
[15:16] {nemo} two way, with trend as friend
[15:17] {nemo} ahhh pulled a dino and stopped it in it's tracks
01[15:21] {Threei}  ok, some eod selling just has to come in
[15:24] {dino} lol
01[15:24] {Threei} Short Setup: HLF  .30 break
01[15:24] {Threei}  hl
01[15:24] {Threei}  If holds  .40
01[15:28] {Threei}  change to .40 break
01[15:32] {Threei}  stop level is exceedingly obvious
01[15:34] {Threei}  sigh
01[15:40] {Threei}  Amtrak to test trains at 165 mph in stretches between Maryland, Massachusetts
01[15:40] {Threei}  I hope it's different trainst and tracks, not just old ones with couple more horses...?
[15:43] {nemo} yeah, that's scary
[15:45] {Beau} pats playing the ravens this yr nemo?
[15:47] {nemo} You mean again?
[15:47] {nemo} Not unless they meet in the playoffs
[15:47] {Beau} sorry,don't follow the yankee teams
[15:48] {dptl} see ya tomorrow all....good evening
[15:48] {nemo} Baltimore is south of the Mason Dixon line
01[15:48] {Threei}  take care dp
[15:49] {Beau} didn't mean to smart ass.  just didn't remember they had played.
[15:50] {nemo} Last night Beau...don't worry, I would never think of using "smart" in conjunction with....
01[15:50] {Threei}  here comes my selling
01[15:54] {Threei}  thanl you all, have a good evening
01[15:54] {Threei}  see you tomorrow
[15:54] {dolores} thxs vad see you tomorrow
[15:57] {dolores} bye guys take care
[15:57] {dino} gn all

Nemo's Findings week of 9/23/2012

(Course on trading using Taoist principles is available: http://www.realitytrader.com/taoisttrader.html)

09/17/2012:  Had insomnia...timing couldn't have been better.  What a snoozer for the most part.  Reminded me of a Neil Young line when he was introducing a song on the CSNY 4-Way Street live album (a two record vinyl set....I'm old.)

"It sorta starts off real slow and then fizzles out altogether" 

Market kinda leaked downward for the day with financials finding the WPP, and then the market making a run north from there to make a VWAP run into the close.  Notice that SPY and FAS bottomed at tracked levels together, not IWM.  What does that say about risk in the market?  No specific opinion.  One day does not a trend make in OP EX week...canary in the coal mine...maybe?  For all intents and purposes the action of the last couple of days looks like a big ol' bull flag.

Headline risk now looks to have shifted from the Euro-orgy, to the Islamic Inferno and the Sino-Nippon conflict-that one could make for a real mess.

9/18/2012:  Housing numbers today, better than expected...what was market reaction...Simon and Garfunkel (Sounds of Silence) moment. 


 "Good" news, not being bought or sold.  OP EX week.   Not really much to expound upon today.

•  IWM closes on the Weekly Pivot.
• Financials ride the Quarterly R1 for most of the day
• SPY rides the weekly pivot for most of the day finishing in the top half of the range
• TLT finishes a few hairs above the Weekly Pivot

  

09/19/2012: Groundhog Day III...'nuff said.  No real buying in the market rumors/news not particularly of the concrete variety (haircuts in JCP's now).  Short covering on heavily shorted stocks.  Tight range with only the bonds making consistent progress retracing the Bernanke news.

The one REALLY interesting move so this week...oil.  With the news of endless printing in Japan Europe and the US, as well as Mideast tension,  oil drops almost 10% by Wednesday night....just shaking out the weak longs?  Or, is it a sign of things to come....shhhhhhh....recession....deflation...uuugh.  Bennie's beard should start turning gray.  Next big support on USO is between 33.50-33.80

The Quad Witching hour is upon us. I'm thinking, some more volatility.

09/20/2012:  Yeah, a bit more volatility today.  Not particularly good economic news starting with Chinese PMI last night.  Higher initial claims (which usually get revised further upward).  Philly Fed was better than expected though paultry.  So we gap down for a 1/2 hour, and then....

IWM  bottoms at the March 2012 swing-high line I left on the graph, which was also with in spitting distance of the daily S3.  If you remember from last weeks blog I said that these three lines would likely corral the weeks price action....SFSG. SPY also bottomed near the daily S3 which corresponded with a fib. retracement I'm tracking....ahhh the confluence of levels again.

From their it was onward and upward.  With SPY actually closing it's gap to finish higher by $.01USD, and IWM losing a bit of steam finishing in the middle of it's range. Soooooo....bad to middling economic news was bought.  We're going higher it seems.   BTW, look at TLT.  Last three days, just sell the open and forget it.

Mmmmhhhh....Dow up 8 of last 9...spy closes 146.74  146.62   146.70 146.71...frickin' Groundhog WEEK so far.

09/20/21: ....and, if you were to add back the $.7795/share dividend to the spy closing price, we're back at .....drum roll please................................$146.70ish!!!!! Yes it was a Groundhog Day week.

We also found out that the Obama Administration has mandated no surprises out of Europe until after his corona....I mean, election, although Greece later denied it.  I wonder if the bond market will stand for that?  

 

Anyway, the last "week that was"  chart:

 

Remember, SPY looks deceptively bad today...you want to know what its relative performance was, look at the IVV.  The  IWM closed within $.15 of the weekly pivot.  Financials were weaker this week, and bonds regained some ground.  Macro economic information domestically was mixed with housing looking as strong as it has since '09.   Also, don't forget, the SPY went through re-balancing today so volume indications are completely out of whack.

For those of you not familiar with him, Bill Cara (http://caracommunity.com/), with whom Vad is associated, does a complete, if not mind-numbingly extensive, "Week in Review" that is usually published on Sundays.  At introduction he gives a summation of the macro-economic data both good and bad from the most recent week as well as the preceding, with a forward look as to the week ahead. I can usually feel the vitrified brain matter leaking out of my ears if I try to understand the whole thing.

All in all a week of either, consolidation or distribution...I'm leaning on the side of consolidation with upside yet to go.

 

The week that is:

 

Looking at next week we can see IWM basically treading water having peaked out at the Yearly R1 on the 14th.  Could see that assaulted again this week.  Tight range this week, which like tight Bollinger bands, usually means expansion coming.

SPY same thing...look at either SPY or IWM on daily it looks like a bull flag

The Qs:  They hit the yearly R3 last week, that's impressive, how skewed is that because of apple? 

Anyway...my prediction for next week: 

http://www.youtube.com/watch?v=5akEgsZSfhg

 

And another thing...

Last week I mentioned how my prediction "accuracy" or the lack thereof, inserted bias into my thinking, and that price action is all that matters. So I'd thought I'd expound a bit on bias, and where it comes from. 

Of course we'll use my Taoist background from which I basically parrot everything I've been taught.  There's nothing particularly original or organic that comes out of my mouth unless I consumed too large a quantity of adult beverage.

 Anyway, the last verse (81) of the Tao Te Ching first two lines are as follows:

True words are not fine-sounding;
   Fine-sounding words are not true.

Why do we like or dislike what we read or hear?  Simply, because it brings us pleasure or pain.  If you're left-wing politically, right-wing ideology is not fine sounding, and vice versa.  If you are a sports fan of team A, and team B, beats the bejeesus out of them, it won't be fine sounding to you.

Throughout our lives and starting from the time we are born, we develop a series of internal, psychological programs as a result of the messages from the social structures in which we live, that form the basis of our beliefs. Through these programs we process the data we absorb through our senses. As passionate beings with the potential for rationality, we become emotionally invested in those beliefs.  

Now, based on our experiences and our personal disposition in conjunction with these programs we've formed,  we perceive certain things more easily, or we more easily attach ourselves to a given piece of information (I don't know what happened to the font -don't ask) because to us, it is fine sounding.  So, our subjective interpretations are our reality. That subjective interpretation is our bias.  So, we share a kinship with people who see information the way we do. (Think "Men are from Mars, Women are from Venus" -frankly I often question if we are the same species, but I digress).

What happens?  Well, in trading we form a thesis based on news and information we read that sounds "fine," to us and unfortunately that thesis, because we are emotional beings, slips its little tendrils around our psyche, and latches on.  A + B+C has to be bearish!!!  WTF!!!!  why is this stock still going up?  Really....so, basically we're reduced to having an argument with the screen, as our trading account continues to bleed.

Everything you read is merely opinion interpreting data, which itself, may be inaccurate or incomplete, and as the old saying goes, opinions are like a certain part of the human anatomy, everyone has one, and they all are offensive to the olfactory senses.

 So where does that leave you...to which Lao Tzu answers:

the wise one does not know many things;
   He who knows many things is not wise.

 

We don't "know" what is going to happen in the market based on a given piece, or pieces of information...That information is in the form of words, and as we know, words mean diddly squat. We create "knowledge" out of our biased mental models as we interpret that information. Remember those words you read are just the distilled thoughts of someone else's mental models based on the way their bias interprets their "data" sources. 

What are the resulting actions and reactions that take place from those words are what is important-NOT our opinion of what should take place because of what we think we know. 

Is what we perceive as "bad" or "good" information being bought or sold?  That's all that counts.

Go back to the Oracle at Delphi and Socrates.  True knowledge is knowing that you don't know. So the key is to, as stated further in verse 81:

The Sage does not accumulate (for himself)

 

To accumulate, means to take possession of.  I accumulate money, food, clothes, etc.  Well, I also accumulate thoughts and ideas.  The problem with accumulating, is we often become emotionally attached to what we accumulate (remember those tendrils). It colors our perceptions, takes us away from reality.  In trading, not seeing clearly what is happening on the screen is not good.

So the key is detachment through discipline. Do not predict, or if you do, accept quickly when your predictions don't come true.  Do not let your desire (desires are the source of suffering according to The 4 Holy Truths ;-)) to be proved right, interfere with doing the right thing.  When A happens see if B or C or D follows, and act accordingly.  Do not hope...hope is an emotion that has nothing to do with reality. Strict entry and strict exit parameters.  As Vad often says  IF "A"  then do "B."  You never hear him say IF "A" maybe do "B."

I should perhaps explain, because those who read this who are in the room always see me talk about my stop as being X "ish".  It sound as if I'm being squeamish or undisciplined about my stops.  That is not really the case.  I've been watching LIIs for a while now, so I have a little bit of experience.  As algorithms have gotten better, they know better how and where traders place stops.  It's not like I'm unique in regards to how I place stops.  So, as price action approaches my stop I watch to see how it behaves in that area to discern whether an algo, or another trader, is just trying to shake me out of my position before it heads off to the promised land.  It is not something I would recommend to those starting out, nor is it something to which every trading style should aspire. It's an explanation for clarification.

BTW...if you don't think a trader or trader(s) can shake you out of the position, I sat in a trading room when the head trader called out, "SHLD is weak.  Gentlemen, short at will."  Well, 15 guys started whacking bids.  $3 lower, I got out.

Well that's enough.  I'll leave you with one last quote(for another time) from a Taoist sage named Chuang Tzu:

 

Those who dream of the banquet awake to lamentation and sorrow, 

Those who dream of lamentation and sorrow, awake to join the hunt.

Market Week Wrap-Up

Risk-On Rally Pauses as Officials Discuss QE Fallout


 Markets largely moved sideways this week, consolidating last week's big risk-on rally. Analysts, Fed officials, politicians and market participants around the globe mulled the implications of massive central bank intervention, including when and if inflation would strike. Meanwhile, both the DJIA and the S&P500 are hovering around five-year highs after months of expansion. The Bank of Japan joined the party on Wednesday, expanding the size of its standing asset purchase program by ¥10 trillion (roughly $130B) and warned that Japan's economy has moved "deeper into deceleration." In Europe, a squabble between the Spanish government and the government of independent region Catalonia over tax and austerity issues threatened to postpone further a potential official request for an EU bailout. Spanish officials continue do deny that they were even mulling a request, while German Finance Minister Schaeuble said that Spain doesn't need a bailout anyway. In Greece, talks between Athens and the Troika dragged on, with both sides roughly €2.5B apart on the proper amount of austerity in the next round of cuts. Peripheral yields remained mostly lower, however, and both Span and Portugal took advantage of the new atmosphere to sell longer-term debt at lower yields. The euro came off its post-ECB bond-buying announcement sugar high this week, with EUR/USD dropping from highs around 1.3170 to bottom out right around 1.2920. The China September flash manufacturing PMI, which was more or less even with the August reading, was either a positive sign of bottoming or a concerning lack of improvement, depending on the analyst. Note that on Friday, a PBoC advisor warned that China's Q3 and Q4 GDP would come in a little below the official 7.5% target and that the slowdown might last into 2013. In a similar vein, Brazil and Italy both took down official GDP forecasts for 2012. There were several more positive US housing data points, with existing home sales and building permits exceeding estimates, and the NAHB's September market index bounced to its highest level since June 2006, capping five months of improvement. For the week, the DJIA and Nasdaq each slipped 0.1%, and the S&P500 fell 0.4%.

- An intense debate among Fed officials took place in the press this week. No fewer than ten Fed board members and governors spoke out in defense of or against QE3. In the hawk camp, Bullard, Lacker, Plosser and Fisher all aired their objections to the new program, emphasizing that the costs of the program greatly outweigh the potential benefits. Inflation threats were at the heart of their critique, with both Lacker (the lone FOMC dissenting voter) and Fisher emphasizing that the program will drive a steep increase in inflation expectations. Bullard warned it would be dangerous to link the program's lifespan only to the unemployment rate, which he points out has been very fickle. Among the moderates at the Fed, Kocherlakota, whose rhetoric has tended to the hawkish side, said he would have voted in favor of QE3. Lockhart said that Job growth of 150K or more could constitute Bernanke's 'signs of improvement.' The doves mainly echoed Bernanke's rationales for QE3, offering little new color. Evans warned that timid policy moves would only prolong economic problems and insisted that fears of Fed-fueled inflation have been consistently wrong, while Dudley highlighted that moving the rate pledge to 2015 was a signal of the Fed's commitment. Nothing in public was heard from Bernanke, who briefed members of the Senate Finance Committee in a closed door meeting on Wednesday afternoon. Coming out of the meeting Senators said the Chairman warned that Congress needs to start acting to fix the nations fiscal mess, and that there are limits to what the Fed can do alone.

- This week's breakdown in crude futures has confounded markets and seemed to run counter to both consensus thinking and moves in other risk assets, which have already greatly benefitted from QE3. Last Friday, WTI futures had spiked above $100 briefly in a QE3-fueled rally. Then on Monday, Brent and WTI futures fell by $4 in a matter of minutes, evoking memories of the 'Flash Crash' and sparking chatter of fat finger trades or a big move by an unnamed hedge fund. Crude fell another $4 on Wednesday, in part due to weekly DOE data showing an unusually large build in US crude stocks as production restarted in the Gulf of Mexico after the closures caused by Hurricane Isaac. Traders also pointed to a press report on Tuesday that said Saudi Arabia was looking to pump more oil to hold down prices, although the catalysts for the move still remain somewhat opaque.

- In earnings news, Oracle saw some softness in sales in Q1, with the total declining y/y and missing analysts' expectations. The firm's revenue outlook for Q2 was also a bit soft, given FX headwinds , and more notably warned that its hardware revenue could fall as much as 18% y/y as it continues its push into cloud computing.

- Two major transport firms this week indicated that the global malaise is having real consequences. After cutting Q1 guidance earlier this month, Fedex reported on Tuesday. The global shipping firm slashed its FY13 outlook only three months after first offering the forecast back in June, and guided Q2 well below analyst consensus. The CFO warned that weak global economic conditions were driving customers away from express services. Railroad operator Norfolk Southern tanked after the firm warned that earnings would be well below consensus estimates due to coal shipment volume declines and lower revenue from fuel surcharges.

- iPhone 5 mania went into full swing as the Apple faithful lined up at retailers on Friday to upgrade to the latest handset. Apple shares hit fresh all time highs above $700, as analysts raised their price targets in anticipation of 8M or more unit sales this weekend. Meanwhile, the architect of the Apple Store concept, Ron Johnson, may have been looking wistfully at those lines of customers. Now CEO of JC Penney, Johnson tried to deflect attention away from the major sales losses incurred in the company's turnaround as he took analysts on the first big tour of JCP's concept store redesign.




TradeTheNews

Sep 21 2012

Very slow day with no action. Got a very nice LLY long for 1:4 and closing LVS short, with a few small (5-6 cents) stops inbetween, which made fir a slightly positive but very boring day. Time to write an article about boredom in trading...

Session Time: Fri Sep 21 00:00:00 2012

[08:36] {nemo} btw...spy is significantly higher than it looks, it's trading ex-dividend today

[08:39] {nemo} so it would be at 147.18 right now

[08:59] {goryl} gm

01[08:59] {Threei}  goryl :)

[09:07] {scottie} good morning

01[09:07] {Threei}  scottie :)

[09:08] {jackharry} good morning

01[09:08] {Threei}  jack :)

[09:11] {dino} gm

01[09:17] {Threei}  dino :)

[09:18] {ese} gm

[09:18] {cipher} gm

01[09:18] {Threei}  ese, cipher :)

[09:19] {Beau} good morning

01[09:19] {Threei}  beau :)

[09:21] {Will49} Good morning

01[09:22] {Threei}  will :)

[09:23] {Will49} Where is everybody?

[09:23] {ese} right here

01[09:23] {Threei}  ?

[09:24] {Will49} Good, three Canucks

[09:24] {ese} should i send an ambulance over will...........tell me your alright there buddy

[09:24] {ese} were here for ya

[09:24] {Will49} I'm good:)

[09:24] {ese} lol

01[09:25] {Threei}  are you on mirc, will?

[09:25] {ese} ok that worked well Vad..........first pick on of the day.........next

01[09:25] {Threei}  lol

[09:25] {Will49} No, 

[09:26] {Will49} Will try to get on this weekend

[09:28] {dolores} GM

[09:28] {dolores} Caterpillar reports August 3-month rolling global retails sales of machines up 13%, compared to July 3-mo. rolling up 14% and June 3-mo. rolling up 11%. Reports August 3-mo. rolling up 27% in Asia/Pacific, flat for EAME, down 5% for Latin America, up 24% for North America and up 7% for rest-of-world 

01[09:28] {Threei}  dolores :)

[09:30] {ese} thats bellwether    if i've ever seen........constructions gegats profits on this board

[09:30] {ese} begats

01[09:31] {Threei} Long Setup:  FCX  .60 break hl

01[09:31] {Threei}  If holds  .50 

01[09:32] {Threei}  target 1:2

[09:33] {dino} swks overnight to .99

[09:34] {ese} nice.....i should of held on to that small qcor position overnight

[09:34] {dino} out .04, +1,04

[09:34] {dino} 1.04

01[09:34] {Threei}  wtg

[09:35] {ese} awesome dino.........

01[09:36] {Threei}  SLW .10 - .20 two-sided

01[09:36] {Threei}  tighten FCX to .54

[09:38] {dino} ty

01[09:39] {Threei}  SLW decided

[09:40] {dolores} what  is the trade on SLW?

01[09:40] {Threei}  long .20 break

[09:40] {dolores} ok

01[09:41] {Threei}  out FCX

01[09:41] {Threei}  good tightening

[09:42] {dino} giving open gaps back

01[09:42] {Threei}  let's tighten SLW to .14

01[09:43] {Threei}  strangely narrow market for such early time

[09:44] {ese} L cat .75

[09:45] {ese} sm

01[09:45] {Threei} Short Setup: NSC  .70 break hl

01[09:45] {Threei}  If holds  .80 

[09:46] {ese} stop .43

01[09:46] {Threei} Long Setup:  LLY  .30 break

01[09:47] {Threei}  If holds  .20 

01[09:48] {Threei}  Invalidated  NSC 

01[09:49] {Threei} Long Setup:  DIS  53 break

01[09:49] {Threei}  If holds  .90 

[09:51] {dino} asml sm l .01

01[09:51] {Threei}  wow... don't remember such slow and narrow opening in a good while

[09:52] {scottie} any target on lly?

01[09:52] {Threei}  with any market help, LLY can climb to 48

01[09:54] {Threei}  DIS is not a scalp either

[09:54] {dino} ctb

[09:55] {ese} nope     cat stopped .34 -.31....take my 120.00 dollar lick and get on with it

[09:55] {nemo} fcx

[09:55] {dino} great attitude ese :)

[09:55] {ese} sorry thats .44 not .34

[09:56] {dolores} NSC stopped

[09:56] {nemo} today is clear as mud

01[09:56] {Threei}  NSC was invalidated, dolores

[09:56] {dolores} pity rinsed

[09:56] {dolores} ok I did not see it

01[09:57] {Threei}  it went over .80

[09:57] {ese} thought sure it was going to take that release and run with it........should know better than to go against those dow market makers

01[09:57] {Threei}  9:49

01[09:57] {Threei}  ok LLY

[09:58] {dolores} I saw .80

01[09:58] {Threei}  ket's start making money

01[09:58] {Threei}  look at 9:49 bar at the chart

01[09:58] {Threei}  andf I alerted invalidation in the room

[09:59] {nemo} yep Triple OX clear as mud

[09:59] {dino} moooo

01[10:00] {Threei}  is it speak in tongues day? I don't understand half of what people are saying today :)

[10:01] {Will49} ia the moon full?

[10:01] {Will49} is

01[10:01] {Threei}  DIS stop to .94

[10:03] {ese} don't know will but i'm gonna need it later to howl at it

01[10:04] {Threei}  will have to wait... very thin creschent

[10:04] {dino} bth filling multi gaps

[10:04] {dptl} gm

01[10:04] {Threei}  LLY 1:1

01[10:04] {Threei}  dp :)

[10:05] {ese} no better reason for stops than watching CAT right now

[10:06] {dino} ctb sm l .01

01[10:06] {Threei}  out DIS

01[10:06] {Threei}  so, up to this point this strange opening was dp's fault

01[10:07] {Threei}  but now when he is here...?

01[10:07] {Threei}  oh wait, Ron and tbell are not in

[10:07] {dptl} :)

01[10:07] {Threei}  we have a choice of who to blame

[10:08] {dptl} beleive it or not iam in San Diego right now

01[10:08] {Threei}  well, what not to believe... planes are fkying...

[10:08] {Will49} everybody's gotta be someplace

[10:09] {ese} WHAT! are ya doin down there?

[10:09] {ese} swimming with dolphins?

[10:09] {dptl} so hot in here    visiting my dougther

01[10:09] {Threei}  he started making his way to Antractica

01[10:09] {Threei}  always wanted to adopt a penguin

[10:09] {ese} have a great time dp

[10:09] {ese} lol

[10:10] {dptl} lol

01[10:10] {Threei}  how hot dp?

01[10:11] {Threei} Long Setup:  CAT  92 break hl

[10:11] {dptl} well gets to over 30 in a daytime

01[10:11] {Threei}  stop under .90

01[10:12] {Threei}  target 1:3

[10:13] {dino} ctb stuck, stop to .99

01[10:14] {Threei}  General Motors recalls 426,240 cars in US to fix condition that could lead to the cars rolling when drivers think they're in park

01[10:14] {Threei}  isn't it the same conditions congress suffers from?

[10:14] {dino} asml same thing

01[10:15] {Threei}  no go CAT

[10:15] {dino} lol

01[10:15] {Threei}  definitely ron's fault

[10:15] {dino} what do you expect from govt motors

[10:16] {dolores} well stopped CAT

01[10:16] {Threei}  LLY is the only light in the window

01[10:17] {Threei}  Exchange of fire along the Israel-Egypt border kills 2 militants

01[10:17] {Threei}  good job on foreign policy

01[10:17] {Threei}  turn decades-long ally into enemy

[10:20] {dino} out ctb +.25

[10:20] {scottie} pfe l .65 if hold .60 ?

01[10:21] {Threei}  I think so scottie... things are incredibly slow,

01[10:21] {Threei}  hard to get read

[10:21] {nemo} yeah, my only trade was an oops

[10:22] {nemo} look down I have 1200 shares of COH long....mmmmmhhhh...how'd that happen

[10:22] {nemo} bohica moment

[10:22] {dino} hate hen that happens

[10:22] {nemo} yeah, had to get out the hemmrhoid pillow

[10:23] {Will49} ouch

[10:23] {nemo} I came in one monday, and didn't realize I hadn't closed out a trade on Friday...that was spiritual

[10:23] {nemo} fslr

[10:23] {nemo} sorry

[10:24] {dolores} JCP washed again

[10:24] {nemo} rinsed

[10:24] {dolores} where is the bottom?

[10:24] {nemo} I would sapy 25.30 area

[10:24] {dolores} thxs

[10:25] {nemo} JCP might go out of business...btw

[10:26] {scottie} in pfe ave .655

[10:27] {dolores} what'sbtw?

[10:27] {dino} washed, lol dolores

[10:27] {dino} by the way

[10:28] {nemo} English idiom

[10:28] {nemo} not to be confused with English idiot...that was Les, actually Australian, but they were all English convicts anyway

[10:29] {dptl} really slow today...just friday or what?

[10:29] {dino} bbby sm l .10 trig

[10:29] {nemo} DP go back to the vodka

[10:30] {nemo} sheesh

[10:30] {nemo} Triple witching OP EX with spy going ex-dividend!!! WTF

[10:30] {dptl} lol  to hot for that in here.....mohito may be

[10:30] {nemo} I'm gonna' start calling you Les Jr.

[10:31] {dptl} oh no :)

[10:31] {nemo} if the foo shits, so to say

[10:32] {dino} damn dp, you're making me thirsty

01[10:33] {Threei}  just wait till he gets his pwenguin and starts discussing treats he feeds it

[10:33] {dptl} lol..

[10:35] {dino} asml to .25

[10:37] {Will49} scottie...I thought PFE stood for pretty effin easy  NOT

[10:37] {dino} out asml .27, +.26

[10:38] {scottie} lol will

01[10:38] {Threei}  so far, not much today is

[10:38] {scottie} had to go for a few minutes, put a hard stop and stopped at .59

01[10:39] {Threei}  whole week was like sliding on oil, smooth and easy

01[10:39] {Threei}  not today

[10:45] {dino} cx bbby order

[10:46] {scottie} orcl s .50 if hols .60 ?

[10:47] {nemo} no

01[10:47] {Threei}  National Daily Tracking: #Obama: 46%, #Romney: 45%

[10:47] {nemo} pivot at .45 and vwam at .94, expect a bounce here

[10:47] {scottie} tks nemo

[10:48] {dino} ctrx spike

[10:50] {nemo} orcl l break of .56

[10:51] {dino} 07 red

01[10:52] {Threei}  (DE) Germany Fin Min Schaeuble: Germany has more to lose from an EMU failure; it is dangerous to provide �100B to Spain if it does not use it all for banks exclusively- Spain does not need an aid program from the ESM

01[10:53] {Threei}  wow

01[10:53] {Threei}  read this:

01[10:53] {Threei}  (GR) EU-IMF review of the Greece debt situation reportedly will be delayed until after the US election in early November - financial press citing unnamed Europe officials- Reports indicate that US officials have requested German and European officials release no 'new surprises' before the election.

[10:53] {dino} mlnx spike

01[10:53] {Threei}  wtf??

[10:54] {dolores} wow they are amazing

[10:54] {dolores} they want to hold things to be elected

[10:54] {ese} am outta here...........have a great weekend everyone.......catch you on the flip side

[10:54] {Will49} EU gauys love Obummer

[10:54] {dino} talk about corruption

01[10:55] {Threei}  take care ese

01[10:55] {Threei}  unbelievable

[10:55] {dino} who was t that said govt don't interfere w/markets. there you have it again

[10:55] {nemo} the new SEALS rules of engagement on enemy raids...they used to go in and kill them if they touched a weapon

[10:55] {nemo} NOW they have to surround the camp, announce with a bull horn who they are, and arrest them

[10:55] {nemo} They all get released within a month

[10:56] {Will49} the emasculation of the great warrior nation

[10:56] {robbers} And they renamed them "the goldfish."

[10:56] {dino} they are turning us into a bunch of touchy feely wimps

[10:56] {nemo} BHI

[10:56] {nemo} that's Holder's influence

[10:56] {nemo} it's law enforcement, not war

[10:57] {dino} they just don't get it

[10:57] {cipher} +.67 MLNX short thx dino

[10:58] {dino} gj

01[10:59] {Threei}  (GR) Northern Athens municipality of Acharnes suspends all but basic services after running out of cash - Ekathimerini (Greek press)- The municipality is unable to pay employees and regular expenses. - Local authority: Acharnes Municipality will remain closed indefinitely, until the financial problem can be resolved. - Mayor to meet with the Interior Ministry today to discuss problems, wants them to reduce rate on loan from 11.5% to 5.5%.

[10:59] {Will49} reality starting to bite

[10:59] {nemo} see the bounce on orcl, didn't have the R/R you thought

[11:00] {Will49} still a long at .55?

[11:00] {scottie} I see

01[11:01] {Threei}  this is US future

[11:03] {dolores} JCP bouning

[11:03] {dolores} bouncing

[11:03] {robbers} Vad, do you think the drop in oil is part of the same political manipulation that you posted earlier?

01[11:03] {Threei}  LLY 1:2

[11:03] {dino} i fear so 3i, especially w/re-election of obamination

[11:03] {dolores} after stoping me at .61

[11:03] {dino} robbers oil drop because of europe and china slow down imo

[11:04] {robbers} Contributing factors no doubt, but it was so sudden and dramatic.

[11:04] {dino} deck sm l .00

01[11:04] {Threei}  oil is a very complicated trading vehicle, a lot of factors influence it

01[11:04] {Threei}  look at it this way:

[11:04] {nemo} and it's not that big a market either

01[11:05] {Threei}  1. what business does it have to be trading around 100 with economy this weak all over the world?

01[11:05] {Threei}  2. how is it influenced by inflation expectations?

01[11:06] {Threei}  3. it's a partial-monopoly market thanks to OPEC

[11:06] {nemo} esrx l .10 break

[11:06] {nemo} in .12

[11:06] {dino} #1 war fears #2 endless printing, #3 war fears again w/iran/isreal

01[11:06] {Threei}  4. Day-to-day gyrations may be caused by purely political considerations, like threat to use SPR

[11:06] {scottie} dino you think orcl is now a double bottom ?

01[11:06] {Threei}  5. Mid-east tensions

[11:07] {nemo} stop .03ish maybe .00ish

01[11:07] {Threei}  enough to make your head spin? :)

[11:07] {dino} dk scottie, not my edge

01[11:08] {Threei}  hell, speculation on Israel strike on Iran alone would be enough to cause unpredictable moves

01[11:08] {Threei}  LLY game plan from here:

01[11:08] {Threei}  not taking last 1/4 out on 1:3, will try to trail and wait for 1:5

[11:10] {nemo} cat .55 level

[11:10] {nemo} coh

01[11:20] {Threei}  LLY over 1:3

01[11:20] {Threei}  15 cents more and I'll be happy camper

[11:20] {Will49} tear rolls down my cheek

06[11:21] * Threei passes Will a napkin

01[11:21] {Threei}  or you prefer a tissue?

[11:22] {Will49} :)

[11:23] {dino} bbby sm l .15 break

[11:26] {Will49} it's a crap, shoot out there today

01[11:26] {Threei}  who wants to see nemo being knocked out in just one line, uncosnscious for about 1h?

01[11:27] {Threei}  LLY 1:4

01[11:27] {Threei}  10 cents more please

[11:27] {dino} deck stop -.31

[11:27] {dolores} DECK breaking lows

01[11:28] {Threei}  here comes, quote rendering nemo blcked out:

01[11:28] {Threei}  There is love enough in this world for everybody, if people will just look.

[11:28] {scottie} lol

[11:29] {nemo} Where's my AK!

01[11:29] {Threei}  there he goes :)

01[11:29] {Threei}  USO sharp drop

01[11:29] {Threei}  LLY stop at .59

01[11:30] {Threei}  (CY) Cyprus Communist AKEL Party Chief Christofias: Cyprus should consider withdrawing from the euro zone if bailout terms are too much - Cyprus press- "Im not prejudging what we should do, but I am saying that these questions have to be discussed very seriously if we really want to serve the interests of the Cypriot people." ***Note that the AKEL Party leads the government of Cyprus

[11:31] {dino} deck last try sm l .74

[11:32] {robbers} They can drop out of the Euro Zone and follow Greece into the Twilight Zone.

[11:33] {scottie} swks db ?

[11:34] {dino} was just looking at that, but i'd say no on db

[11:34] {dino} gap fill issues imo

[11:34] {scottie} tks dino

[11:35] {dino} i may be wrong scottie

[11:35] {scottie} better not be :)

[11:35] {dino} as they say, "you never know until you bet" - jesse livermoore

[11:35] {dino} tight markets

[11:36] {Will49} but you should have some idea about probabilities, no?

[11:36] {dino} indded will, that is the edge

[11:36] {dino} meli drop

[11:37] {Will49} so, there is a DB there based on BBs, but you think the gap negates it?

[11:37] {Will49} just askin"

[11:37] {dolores} was that 25.60 bottomon JCP?

[11:38] {dino} for me, i don't see the db because of the gap. but thats just me. my gut says good probability of entering gap area

[11:38] {Will49} tks dino

[11:38] {dolores} CLF at lows any trade here?

[11:39] {dino} np. "trading in the zone" - anything can happen at any time in markets

[11:39] {Will49} good book

[11:40] {dino} this market is stuck today

[11:40] {robbers} Very good book.

[11:41] {dptl} yeah...i think mojito it is :)

[11:42] {Will49} is it triple witching, or waiting for news?

[11:43] {Will49} the market that is, not DP's mohito

[11:43] {Will49} mojito

01[11:44] {Threei}  it's a quadruple actually

01[11:44] {Threei}  (GR) Greece Fin Min rebuts earlier reports that the Troika report will be delayed until after the US election- Follow up: EU's Mors also denies the earlier report that Troika could delay its Greece report. Greece notes it has made progress on talks with the Troika, Troika officials to return in one week **Reminder: Earlier reports circulated that the Troika review of the Greece debt situation reportedly will be delayed until after the US election in early November at the behest of US officials

[11:45] {Will49} deny, confirm, deny, confirm...yap yap yap

[11:46] {Will49} can't believe a thing you hear or read today

[11:46] {Will49} except for our room of course

[11:47] {dino} ctb sm l .01

[11:48] {dolores} CLF nice bounce

[11:48] {dino} out ctb .20, +.19

[11:48] {Will49} pretty good in this market dino. eh?

[11:50] {dino} slow day, taking small gains

[11:51] {nemo} oh wow, I got a partial on esrx while I was gone

[11:56] {dolores} SPY red

[11:56] {nemo} not really

[11:56] {nemo} it'a actually up .40

[11:56] {nemo} look at IVV

[11:58] {nemo} whaddya' think dolores?

[11:59] {dolores} about?

[11:59] {nemo} difference between IVV and SPY?

[12:00] {dolores} as politics say when thye don't know "no comment"

[12:01] {dino} can't take 'em down, so up we go

[12:03] {nemo} SPY is trading ex-dividend, so they basically subtracted .78 from the price.  SPY is an etf.  IVV tracks the futures, which don't pay dividends, and are more representative of the actually spy levels.  You want to know where spy is actually trading, add .78 

01[12:03] {Threei}  Solo drivers are clogging Greater Victoria roadways, says a study

01[12:03] {Threei}  hmmm

01[12:03] {Threei}  dcrivers clog the road is like water clogs the pipe

01[12:03] {Threei}  road is for drivers, they use it

[12:03] {dolores} thank you

[12:04] {nemo} Also, we'll see a torrent of volume into the close with the spy rebalancing tonight

[12:05] {dino} bbby to .17

[12:06] {dino} to .37 i mean

[12:06] {dino} out +.22

[12:06] {dino} swks lod

01[12:07] {Threei}  The economy remains by far the top issue on voters� minds as the November elections near. Health care and government corruption are a distant second on a list of 10 top issues

[12:07] {dolores} was watching that dino any tarde?

[12:07] {dolores} tarde?

[12:07] {dolores} trade

01[12:07] {Threei}  80% of Likely U.S. Voters rate the economy as Very Important to how they will vote in the next election.

01[12:08] {Threei}  if that's true, I don't understand why Obama is not polling at 20%

[12:08] {scottie} oc .95 long for 36 break ?

01[12:09] {Threei}  O'd rather go for .90 break short

01[12:09] {Threei}  I

[12:09] {scottie} ok

[12:10] {jackharry} +.39 on BBBY, thanks dino

01[12:10] {Threei}  good one guys

[12:13] {dino} gj jack

[12:13] {nemo} yeah, well the right question would be who you think is better for the economy

[12:13] {dino} dolores dk swks, gut says around 24 go long

[12:15] {dino} bth drop

[12:16] {dolores} in at .65 dino

[12:16] {dolores} SWKS

[12:16] {dolores} stop at entry

[12:16] {dolores} partial out

[12:16] {dino} gj

[12:16] {dino} trail it tight imo

[12:17] {scottie} trail stop to .64 lly ?

[12:18] {dolores} ok

01[12:18] {Threei}  I think so

[12:18] {dino} 07 red

[12:22] {nemo} dltr

01[12:29] {Threei}  good spike SWKS

01[12:29] {Threei}  don't oversit it, dolores

[12:30] {dino} ctb sm l .75, stop .69

01[12:30] {Threei}  it's a fickle stock

[12:30] {dino} wtg dolores

[12:31] {dolores} stopped already

[12:31] {dolores} well....

[12:32] {dino} ctb stop -.06

[12:33] {dino} rinsed

[12:33] {dino} reload

[12:38] {dino} mgam spike

01[12:39] {Threei}  (US) Fed's Lockhart: More easing could be needed if employment stalls, data through month of August suggested economy was slowing- Fed will continue to purchase bonds in new program until employment picture improves - Notes that he was pursuaded that slow jobs growth issues could be helped by monetary policy

01[12:39] {Threei}  he was eh

01[12:40] {Threei}  beating will continue until morale improves

[12:40] {dptl} cnx .35 long?

01[12:41] {Threei}  for a scalp, could be

[12:47] {nemo} wow, got another partial on esrx

[12:49] {nemo} eh, look for the last around .57

[12:51] {nemo} rax sneaky

[12:53] {nemo} shld

[12:57] {nemo} wdc wtf

01[13:01] {Threei}  which of those is a stock symbol?

[13:01] {dino} wdc sm s .09

[13:09] {dptl} fslr .05 short?

01[13:09] {Threei}  .05?

[13:10] {dptl} .30 sorry

01[13:10] {Threei}  I'd rather go for .35

[13:11] {dptl} ye .35 lol to much mojito i think

[13:12] {dptl} .35 if stays under .45

[13:12] {scottie} deck s .45 if holds .55 ?

01[13:12] {Threei}  DECK, yeah, looks preomising

[13:13] {Will49} Cheers, guys...off to baby sit two grandsons for a week. Good trading!

01[13:14] {Threei}  take care will, have fun

[13:14] {scottie} will

[13:14] {Will49} tks

[13:14] {dptl} cheers will

01[13:15] {Threei}  will timed it perfectly

01[13:15] {Threei}  return just in time fir fun with presidential debates

[13:16] {nemo} iwm a .30 range

[13:16] {nemo} wdc

[13:16] {nemo} sorry

01[13:16] {Threei}  from everything I've seen so far, it's going to be painful to watch

[13:16] {nemo} like watching vad around bacon

01[13:17] {Threei}  that's pure pleasure

01[13:17] {Threei}  well, unless you are bacon I guess

[13:17] {nemo} not watching

[13:19] {dino} wdc stop -.18

01[13:19] {Threei}  if I were in Romney shoes, I'd make my main motive before the debates along the lines: I am not a very smooth speaker, but you've got one in WH right now. If you want a speaker, vote for him. If you want a doer, vote for me

01[13:19] {Threei}  'cause I suspect it's going to be a train wreck

[13:20] {nemo} funny, breakouts are working today, just very slowly

[13:20] {dino} i don't know, i think they are underestimating team r & r

01[13:20] {Threei}  I hope you are right...

[13:21] {nemo} nope...think collapse of communism, this thing will keep ossifying for a long time

[13:25] {nemo} we're about do for a little rally

[13:25] {scottie} out lly +.33 ty Vad

01[13:26] {Threei}  yw

[13:29] {dino} gj

[13:30] {scottie} once again, learning patience, one step at a time

[13:31] {nemo} 'look .44 wdc

[13:31] {nemo} disappeared

[13:31] {nemo} was huge bid

[13:31] {nemo} just flashed at .46

[13:32] {nemo} that order hasn't showed up again

[13:32] {nemo} might be a short now

[13:33] {scottie} asna s .75 if holds .80 ?

[13:33] {nemo} short wdc .40

[13:33] {nemo} stop .50

[13:36] {dptl} coh .50short? or .60 long?

[13:36] {nemo} l tna .30 break

[13:36] {nemo} oh oh, see that frickin bid show up on WDC again, trhuing to float it

[13:36] {nemo} the re it is

[13:37] {nemo} the wuss doesn't want it to get hit fake strength

[13:37] {nemo} so he must be trying to unload up here

[13:38] {nemo} imo

[13:38] {nemo} stop .20 ish on tna

[13:40] {nemo} this drops .40 probably goes

[13:40] {nemo} offering .41 tna

[13:40] {dolores} nemo I was out WDC triggered?

[13:40] {nemo} I'm short .40

[13:41] {nemo} well, I'm actually 51 and short, but we're talking about the stock

[13:42] {nemo} tightening stop on tna, .25ish

[13:42] {nemo} I'm hedged...how do you like that

[13:43] {nemo} proverbial "hair" on tna

[13:44] {nemo} oh oh frickin rebid

[13:45] {scottie} cbs 38 short ?

[13:45] {nemo} jesus, can't get that last penny on tna

[13:47] {nemo} wdc looks like a drunk ready to fall over

01[13:47] {Threei}  can't tell scottie

[13:47] {dptl} esrx .40long?

[13:47] {nemo} mmmhhhh....hits a little close to home

[13:47] {scottie} in .98

[13:48] {scottie} small

[13:49] {nemo} bidding .30 wdc

[13:49] {nemo} screwed myself on tna

[13:49] {scottie} have any target on wdc nemo

[13:50] {nemo} .00

[13:50] {scottie} tks

[13:50] {nemo} scratch tna

[13:50] {dptl} Vad esrx what do you think? .40 long?

[13:51] {nemo} yes

[13:51] {nemo} pheww

01[13:51] {Threei}  I don't know dp...

01[13:51] {Threei}  not being politician, I can say that :)

[13:51] {nemo} likely top is .57 area

[13:52] {dptl} :)

[13:52] {nemo} shouldn't you be drunk dp?

01[13:52] {Threei}  he is

[13:52] {dptl} lol

[13:52] {nemo} silly me

01[13:52] {Threei}  what's your point?

[13:52] {nemo} oh jeez tna

[13:53] {nemo} stop above .40 for wdc

[13:53] {nemo} nemo you frickin' moron!

01[13:58] {Threei}  Mitt Romney's 2011 tax return will be made available to the public at 3pm today

[14:02] {Beau} wouldn't it be more honest to release several years before he started running?

[14:02] {nemo} stop wdc above .35

01[14:03] {Threei}  I don't know... what is the requirement?

[14:04] {Beau} none-just fairness for true picture of a man.

01[14:04] {Threei}  then what is the historical standard?

[14:05] {Beau} don'tknow. think both bush's went back several yrs.

[14:07] {scottie} cbs stopped -.08

[14:09] {Beau} http://www.taxhistory.org/www/website.nsf/web/presidentialtaxreturns

[14:11] {Beau} Obama back to 2000, Bush 2000, Clinton 1912 ReaGAN 6 Yrs. bback.

[14:12] {Beau} Clinton to 1992 only seemed like 1912

[14:15] {Beau} vad, what did we do before google?  Library?

[14:15] {nemo} you had telegraph and smoke signals I think?

01[14:16] {Threei}  hmmm

[14:16] {Beau} didn't multi task--only one fire

01[14:16] {Threei}  wait... there was life before google??

[14:17] {nemo}  a long long time ago in a galaxy far far away

06[14:17] * nemo mumbles; "gotta' get my meds adjusted..."

[14:18] {dino} lctb to .96 slloooowwwww

[14:19] {dino} sheesh, thats supposed to be ctb

[14:23] {nemo} looking like iwm might bounce at .73ish

[14:24] {nemo} maybe not

[14:27] {nemo} nice of wdc to stop me out...and of course, after I tightened the stop

[14:30] {nemo} http://www.buzzfeed.com/expresident/boops-that-shook-the-world

[14:35] {dptl} anf .10 long?

[14:35] {dptl} if holds 37

01[14:37] {Threei}  .05 rather

[14:37] {dptl} ok

[14:37] {dptl} 37 stop?

01[14:38] {Threei}  .98

[14:39] {dptl} in

[14:43] {dptl} out half

01[14:43] {Threei}  :)

[14:43] {dino} zzzzzzzzzzzzzzzzzzzzzzzzzzzz

[14:45] {dolores} WDC nemo keeps bouncing ack

[14:45] {dolores} back

[14:45] {dolores} yoou shorting it again?

[14:45] {dolores} now it has trouble above .40

[14:45] {dolores} getting weaker?

[14:47] {dolores} LVS anything today?

01[14:47] {Threei}  WDC can go either way, 50/50

01[14:48] {Threei}  LVS, I'd short it if ls loses .20

[14:48] {dolores} no buy if it breaks .30?

[14:50] {dino} out ctb +.20

01[14:50] {Threei}  no, not liking long

[14:50] {dolores} ok

[14:51] {dolores} there is a  bid pushing it since .23

[14:56] {scottie} Have a nice weekend guys, see you monday

[14:57] {dptl} out anf

01[14:58] {Threei}  take care scottie

[15:12] {dptl} ok ...see ya monday all...have a good weekend

01[15:12] {Threei}  you too dp... take it easy with that mojito

[15:12] {dptl} i try :) 

[15:20] {dino} calling it a day/week too. thx all, some great ideas

01[15:25] {Threei}  take care dino

[15:27] {dolores} VAD you think someting might come up?

[15:27] {dolores} I am almost asleep!!!

[15:27] {nemo} odds are against it

01[15:27] {Threei}  it might...

01[15:27] {Threei}  who knows

[15:27] {dolores} ok

[15:27] {nemo} the shadow

01[15:27] {Threei}  I am still looking at LVS

[15:28] {dolores} ok

[15:31] {dolores} trade LVS still on at .20

[15:31] {dolores} ?

01[15:31] {Threei}  I think so yes

01[15:31] {Threei}  but keep an eye on the clock

[15:31] {dolores} ok

[15:32] {nemo} i'd be looking for short covering

[15:33] {nemo} fcx

[15:33] {nemo} sorry

[15:36] {dolores} nemo what you mean for a pop up?

[15:37] {nemo} yeah

[15:38] {nemo} of course, this isn't a normal friday

[15:38] {dolores} you in?

[15:38] {nemo} in what?

[15:38] {dolores} FCX

[15:39] {nemo} no went to look at it and was in wrong window

[15:39] {dolores} ok

[15:40] {dolores} I think will call it  a day+

[15:40] {dolores} not much time left

[15:40] {nemo} evening in your case

[15:40] {dolores} yes

[15:41] {nemo} buenos noches

01[15:41] {Threei}  LVS triggered

01[15:41] {Threei}  and drops fast

[15:41] {dolores} will stay ofr  awhile

[15:41] {nemo} .11 is S3

[15:42] {dolores} not in VAD only 20 minutes left

01[15:42] {Threei}  nice closing scalp

01[15:43] {Threei}  1:1

[15:45] {Beau} gn

01[15:46] {Threei}  thank you all, have a good weekend

01[15:47] {Threei}  see yo all on Monday

[15:47] {dolores} you too

[15:47] {dolores} see you monday

[15:47] {dolores} enjoy the weekend you all

[15:47] {dolores} and behave yourselves with the vodka!!

01[15:48] {Threei}  hmmm

01[15:48] {Threei}  I'll try but can't promise

[15:48] {dolores} yes I understand

[15:49] {dolores} was married to a guy form rusian blood!!

[15:49] {nemo} spy is going to close flat if you add back the dividend

[15:50] {dolores} take care guys see you monday