TradeTheNews October-November 2012 Outlook: Trick or Treat
In the last two
months, central banks have delivered on promises of new stimulus, acting even
more aggressively than some expectations. European Central Bank President
Draghi managed to convince nearly all of his colleagues to support a new
sovereign bond buying program (OMT) that skates along the edge of the ECB
mandate, and Fed Chairman Bernanke has unleashed a third quantitative easing
program that is coming to be called QE-infinity given its open ended structure.
Throw in fresh stimulus from China and Japan, and this round of stimulus may be
more impressive than the emergency measures taken to staunch the 2008 financial
crisis. Markets have taken the hint and the risk-on trade has plowed ahead
using each successive stimulus program to take a leg higher, supported by what
some observers have called a "QE competition" among central banks.
Even though the central banks have thrown everything but the kitchen sink at
the problem, it is still not clear that fiscal authorities will follow through
with the necessary fiscal consolidation efforts. In Europe, all eyes are now on
Spain, which has pledged more austerity measures, but has had some concerns
about a loss of sovereignty that might be attached to accepting more help from
its partners. Meanwhile the US has not even truly broached the idea of fiscal
consolidation, as the national debt runs above $16T and the two political
parties still refuse to compromise during the election season. China faces its
own sort of uncertainties as the leadership prepares for its once-a-decade
leadership transition just as the economic miracle seems to be settling into a
slower growth phase. Events over the next two months could help settle some of
these jitters headed into 2013, or they could exacerbate the uncertainty that
government leaders have still failed to fully put to rest.
Putting on a Brave Face
The Fed has essentially gone all in: QE3 is the final quantitative easing
program that the Fed will launch in this cycle because it is essentially
limitless. The open ended nature of the new program allows the Fed to adjust
the size and composition of the program as they see fit without going through
the handwringing of launching a fresh QE program each time. Fed chieftains
agree that this policy is focused squarely on the full employment mandate of
the Fed by targeting MBS which can help improve the mortgage lending market,
which in turn is hoped to keep the housing market recovery on track and
undergird the overall economic recovery.
The labor market focus of QE3 comes with the caveat that the inflation mandate
must also be maintained. As the program continues, this may become the central
question of its viability: how much inflation is the Fed willing to tolerate in
order to sustain a QE program to buy mortgages that only indirectly impacts the
jobs market? The Fed doves have stated they see little inflation risk from QE3
and note that inflation is currently running below the 2% target range. Aside
from the inflation risk of piling more assets on to the already $3T Fed balance
sheet by "printing money," another potential downside is the risk of
QE3 not moving the needle. Chairman Bernanke himself has already noted the
diminishing returns seen from each successive QE program, so if QE3 (and the
other global central bank QE programs for that matter) doesn't achieve the
desired goal, the central bank will appear impotent, shaking market confidence.
Spooky Data
Lackluster data over the last several months have helped justify the central
bank moves, especially the quicker than anticipated action by the Fed last
month. The data clearly shows that the economy has been flagging for the last
two quarters, and there has been little improvement in the latest reports. The
September Chicago PMI showed contraction for the first time since 2009, and the
most recent durable goods orders dropped by double digits, the biggest decline
in over three years. The Philadelphia Fed manufacturing index has been running
in negative territory for five straight months and has missed analyst
expectations for five of the last six. To top it all off, the final reading of
US Q2 GDP was slashed by four-tenths of a percent from the preliminary reading,
taking it down to a mere 1.3%. The next couple of months of data will tell if
the optimism indicated by the markets is warranted, while the tepid economic
activity of the third quarter will be summarized in the Q3 GDP reading out on
October 26.
The Fed's renewed focus on its employment mandate will add even more weight to
the weekly and monthly jobs data. Some early momentum this year in US job
creation has faltered in the last few months. Nonfarm payrolls data has been
stagnant for the last five months, never managing a reading above 150 thousand
net new jobs, which is seen as the bare minimum for working down the unemployment
rate. As a result, unemployment has barely budged, holding between 8.1-8.3% all
year. The next two monthly jobs reports have a lot riding on them. The Fed will
be watching to see if QE3 is working and needs future adjustments when the data
comes in on October 5 and then on November 2, just days ahead of the
Presidential election. The future direction of US governance is also on the
line: A couple of upside surprises on the employment data could propel
President Obama to four more years in the White House.
Nothing to Fear but Fear Itself
Despite the pleas from the Fed for Congress to take action on the fiscal
situation, it appears that nothing will be resolved before the November
elections. After a series of gaffs by his opponent, President Obama has built a
small lead in key swing states like Ohio and Florida. Romney is not out of the
race, but there's a growing consensus that he will need to score big points in
the upcoming debates (Oct 3, 16, 22, and VP debate Oct 11).
Even after the elections are over, it is not entirely clear that the partisan
cloud covering Washington will dissipate. If President Obama is reelected, he
and the House Republicans may enter another game of brinksmanship like the one
that led to the fiscal cliff in the first place. A Romney win may cow Senate
Democrats into going along with the GOP fiscal plan, or they may mirror the
obstructionist tactics the House Republicans have perfected over the past two
years. In either case, the question will be can the two parties come to a
reasonable compromise on taxes and spending cuts in before the end of the year?
The prospects of across the board tax hikes slamming the economy and the
loathing most Congressmen feel for the 'sequester' budget cuts should propel
them toward a deal, but in this unprecedented partisan atmosphere its still
possible the two parties will wrestle each other over the cliff.
So far the markets have largely ignored the fiscal cliff, despite the media
hype, with most analysts seeing little chance that Congress will let the
country go over the edge. With Congress scheduled to be in session for only a
few weeks in November and December, markets may react if politicians continue
to drag their feet on a compromise after the election. Even then many analysts
believe legislators could resort to kicking the can down the road one more time
by putting another temporary extension in place to allow negotiations to
continue into the first half of 2013.
Defense contractors may see the first impact of a potential fiscal cliff
scenario, and many of big the military industrial firms have already created
more flexible hiring and production scheduling to allow for the possibility.
These firms may feel some relief if the Republican candidate is victorious in
November, but some of Romney's policy stances may cause turmoil in other
markets. Political promises are a dime a dozen, but Romney has said on day one
as President he would name China a currency manipulator, which could quickly
ratchet up tensions with America's biggest creditor.
In a very different version of the leadership selection process, China will
start its once in a decade power transition in just a few weeks. On November 8,
the 18th National Congress of the Communist Party will convene to name Xi
Jinping the General Secretary of the Party, the first step in his ascendance to
the premiership next March.
There have already been some bumps in the road, including the rumor of a
military coup in March (quickly denied), followed by the very public ouster of
a Xi rival. There were also some concerns raised when Mr. Xi disappeared from
public view for two weeks in September, but he has since reappeared no worse
for wear. These incidents accentuate the delicacy of such a transfer of power.
Past generational leadership transitions have been impeded by internal power
struggles, and have even created leadership gaps that allowed public
demonstrations ( e.g. the Tiananmen Square protests in 1989), but the current
Premier, Hu Jintao, managed a smooth transition when he took power ten years
ago, and he appears ready to ensure a similar outcome this time around. As Mr.
Xi steps into the spotlight, the outgoing General Secretary still deserves
attention as he will issue a formal report to the party congress that will set
the political and ideological tone for his successor.
A key topic of that report will surely be managing the continued growth of the
economy that has shown signs of losing its vigor. Despite recent stimulus
efforts there is still a bear loose in the China shop - Chinese manufacturing
PMI readings have been indicating contraction for months and the latest
official industrial production reading touched a 39-month low, helping extend
the drop in the Shanghai index to three year lows. This may be the greatest
test of the Chinese economic miracle since this long period of expansion began,
so even more stimulus may be coming, including potential rate cuts.
The Chinese central bank (PBOC) has cut its reserve requirement ratio by 150
basis points in the last ten months, essentially releasing hundreds of billions
of yuan for banks to invest into the economy, but the last cut was back in
early May. Since then the PBOC has held off on further RRR cuts, holding it at
20%. Meanwhile the central bank has cuts its 1-year benchmark deposit and
lending rates twice, in June and July.
With the economic engine still sputtering, many analysts believe that the
situation is ripe for additional rate cuts, perhaps as soon as the first week
of October when mainland China shuts down for its "Golden Week."
Recently, some PBOC advisors have suggested the economy may not achieve the
7.5% GDP growth goal in the latter part of the year, a potential embarrassment
for outgoing leader Hu. If the growth slips further it might even warrant the
drastic step of shifting the official government monetary approach back to the
"moderately loose" stance put in place in November 2008 that was
revised to "prudent" in December 2010 (the official fiscal policy
stance has remained "proactive" since 2008).
Another fly in the ointment for China is the recent unrest emblemized by a
violent protest by workers at a Foxconn plant in southern China last month. In
a protest of working conditions, 2,000 workers damaged buildings on the site
before police forces swept in--another embarrassing incident for the
manufacturer of the iPhone 5 on its launch date.
The flare up of China's territorial dispute over a cluster of islands claimed
by Japan is also crimping the regional economy, as anti-Japan protests in China
have resorted to vandalizing Japanese brand cars and stores. Numerous Japanese
manufacturers including Toyota and Nissan have reduced production rates as
Chinese demand for their products dries up, enough for the Japanese PM Noda to
acknowledge that the dispute over the Senkaku Islands could further weaken his
country's economy.
For its part, Japan has taken advantage of the post-tsunami reconstruction
effort to shore up its economy. Yet the latest assessment of the Bank of Japan
is that the pick-up in economic activity has paused due to slowing in the
economies of its trading partners, and at its September meeting the central
bank expanded its asset purchase program by ¥10.0T to a total of ¥80T.
The Devil's in the Details
In Europe, the new ECB bond buying program is contingent upon a sovereign
nation asking for it to be implemented. The apparent guinea pig will be Spain,
which has moved at a deliberate pace toward a bailout, jumping through all of
the prescribed hoops along the way. The government has agreed to a bank bailout
package and as of late September bank stress tests have determined that seven
of Spain's banks will need €59.3B in recapitalizations. The finance ministry
has indicated that those banks should be able to raise about a third of those
funds on their own and thus appears ready to request about 40% of the €100B in
funds set aside for Spanish banks by the EU. During this process, sovereign
spreads have reacted favorably, taking the benchmark 10-year Spanish bond yield
well below the dangerous levels above 7% where it stood before the bank bailout
was arranged.
The next steps for Spain will be thornier. The government just announced a 2013
budget that continues the country's austerity push, much to the chagrin of many
Spaniards who fear the 25% unemployment rate will get even worse. As the
government passed the budget measures, protesters swarmed outside of the
parliament building, some clashing with police in a scene very reminiscent of
Athens earlier this year. But the additional austerity measures in the budget
plan were welcomed almost unanimously by senior European officials who seemed
to signal the proposal was enough to meet the conditions for a broader Spanish
sovereign bailout.
Now the pressure is on Madrid to formally request a sovereign bailout.
Initially the government seemed hesitant because of the
"conditionality" attached to the ESM/OMT bond buying program which
some officials feared might impinge upon Spain's sovereignty. These fears seem
to have been allayed, and the formal request could be made sometime in October,
which happens to coincide with the period when Spain has the heaviest turnover
in its long term debt needs this year. There has also been widespread
speculation that PM Rajoy wants to wait until after October 21 regional elections
in Galacia and the Basque Country in order to minimize the political fallout
from the Regions.
Even as Spain is under pressure to accept the full bailout program, the EU and
EMU are working toward greater integration of their common institutions. French
President Hollande recently stated that the summit on October 18-19 would
demand "key and durable" decisions that would stabilize the Euro
Zone. The meetings will include a review of progress made on the implementation
of the Growth Compact as well as the single European banking supervision
mechanism. Failure to show a unified front and genuine progress at this summit
may be deemed as a failure.
The latest reports indicate that the aggressive timetable for the banking union
may need to be pushed back a bit in order to get it right. There has also been
some pushback from northern European countries about the mechanics of the
bailout fund. Finland led a charge against excessive leveraging of the ESM
which, for now at least, will keep any leveraging of the bailout fund at modest
levels. In addition, there have been indications that Chancellor Merkel wants
to get any new bailouts bundled together for a single parliamentary vote rather
than risking the Bundestag rejecting one of a series of bailout votes - Spain,
Cyprus, Greece - out of frustration. Politicians are also feeling growing
public pressure against fiscal consolidation at the heart of the integration
and bailout schemes. Anti-austerity protests have been commonplace in Athens,
have been flaring up in Madrid, and just recently Paris has seen marchers out
in force. The European public, who in the last couple years have voted out
conservative parties in favor of the socialist candidates in nearly half of the
Euro Zone, are now asking for less severe cutbacks. If these protests become
widespread it may be difficult for leaders to ignore them, which could further
jeopardize integration timetables.
Whistling Past the Graveyard
The aggressive nature of the simultaneous new global stimulus has thrown the
risk-on trade into a higher orbit. Two months ago, gold was looking lackluster,
but now the prospect of unlimited central bank interventions has sent the
precious metal on a course back to $2,000 and perhaps all time highs. US equity
markets have hit four year highs, and European bourses have seen a solid
rebound. Uncertainty is clearly still a major factor, however, as US treasuries
are still attracting a significant flow of funds.
Meanwhile the oil market has seen WTI crude futures touch the $100 mark again,
despite Saudi Arabia given assurances of a well supplied market and the
consistent rumors of an imminent release of oil from strategic petroleum
reserves. The hurricane season, which officially ends November 30, has
contributed little to the rise in oil prices, as only one storm (Isaac) has had
any impact on Gulf of Mexico production so far.
It appears the boycott of Iranian oil has also had only a minor impact on oil
prices as the stalemate over Tehran's nuclear program continues. One wildcard
event that must be weighed is an Israeli strike on Iran's nuclear program. An
impassioned speech by the Israeli PM before the UN in September cemented his
concept of a "red line" for Iran's nuclear program, a point that Mr.
Netanyahu suggested may only be months away. It is conceivable that just after
the US elections in November might be the opportune time for Israel to strike
Iran, especially if Romney wins. Obama's lame duck period may be a window of
opportunity for Israel to bomb Iran without the overt blessing of an American
government in transition.
The commodity market action has been exaggerated by the across the board
weakness in the dollar. Predictions from earlier this year of the euro dropping
to parity with the dollar have fallen flat. The euro dipped to as low as $1.20
in July before ECB President Draghi famously said he would do whatever it takes
to preserve the euro zone. Since that pronouncement, worries about the
unraveling of the EMU have ebbed, and the anticipation and then the reality of
QE3 have weakened the dollar back to $1.30 against the euro, about where it
started this year. The pendulum may yet swing again, but for now it appears the
weak dollar trend will continue into the year end.
A Bear in Bull's Clothing?
Now that the central banks have done everything they can to calm and stimulate
markets, what's next? If the stimulus gives fiscal authorities the room they
need to make sensible economic adjustments, the global economy could shake off
funk that has held it back for the last four years. But if all this stimulus
fails to keep markets aloft, and leaders fail to make progress on creating
smarter, leaner government, uncertainty could reassert itself.
For now, the risk-on sentiment has the central bank safety net underneath it,
so it appears current market trends can continue for some time, even with the
upcoming third quarter earnings reporting season expected to be ugly. Yet as
2012 races toward its end, fears of all the missteps governments could
make-from Congress playing chicken with the fiscal cliff, to subtle power
struggles in China, to sovereignty issues unsteadying Europe's integration
process-still have the potential to dent sentiment. Any such political scares
could put the safety net to the test, stretching it to a point where a deeper
seated concern must be considered. Namely, with the central banks now
essentially all in, what more can they do if markets lose confidence again?
CALENDAR
October
1: Euro Zone Unemployment Rate; US ISM Manufacturing; National Golden Week in
China
3: Minutes of Sept FOMC meeting; ISM Non-Manufacturing
4: ECB policy statement; BOE policy statement; BOJ policy statement
5: US Payrolls and Unemployment
8: China GDP and CPI; German Industrial Production; Eurogroup meetings
9: China Trade Balance; ECOFIN meetings
11: US Trade Balance
12: US PPI; Prelim University of Michigan Confidence
15: US Retail Sales; BOE Inflation Letter (tentative)
16: German ZEW Sentiment; US CPI
18: Philadelphia Fed Index; EU summit (Oct 18-19)
19: US Existing Home Sales
23: China HSBC Flash PMI
24: FOMC policy statement; US New Home Sales; German Ifo Business Climate;
European Flash Manufacturing PMIs
25: US Durable Goods Orders
26: US Advance Q3 GDP (1st reading); UK Q3 GDP
29: BOJ Policy Statement (tentative)
30: US Consumer Confidence; BOJ Outlook Report
31: Euro Zone Unemployment; China Manufacturing PMI
November
1: US ISM Manufacturing
2: US Payrolls and Unemployment
5: US ISM Non-Manufacturing
6: US Election Day; Japan Current Account; German Factory Orders
7: Euro Zone Retail Sales; China CPI
8: China National Party Congress; ECB policy statement; BOE policy statement;
US Trade Balance; China Trade Balance (tentative)
11: Japan Q3 GDP
12: Minutes of the Oct FOMC meeting; Eurogroup meetings
13: German ZEW Sentiment; Eurogroup meetings
14: US Retail Sales; US PPI; BOE Inflation Report
15: US CPI; US Philadelphia Fed; Europe Prelim Q3 GDP readings (by country)
16: US UoM Prelim Confidence
19: US Existing Home Sales; Japan Policy Statement
21: German Ifo Business Climate; China HSBC Flash PMI
22: German Flash PMI
27: US Durable Goods Orders; US Consumer Confidence
28: US New Home Sales
29: US Q3 Prelim GDP (2nd reading)
30: China Manufacturing PMI
TradeTheNews
Wednesday, October 3, 2012
Oct 3 2012
First Catch of the Day upon return from the conference, had to do it with a bang. 1:5 qualifies as such, IMO
A few more good trades and particularly two nice short trades on HPQ made the day solid black.
Session Time: Wed Oct 03 00:00:00 2012
[08:17] {nemo} Mmmmhhh subdued so far on the ADP report
[08:30] {nemo} hey dp 32 level srpt
[08:30] {nemo} spread tightened up here
[09:00] {goryl} gm
01[09:00] {Threei} morning goryl
[09:04] {scottie} GOOD MORNING
01[09:04] {Threei} scottie :)
[09:04] {scottie} I mean good morning
01[09:04] {Threei} I nearly fell off my chair
[09:04] {goryl} Vad, do you use NASDAQ as the Route in Level II?
01[09:04] {Threei} most often, yes
01[09:05] {Threei} if you want to short a stock that has dropped significantly already, better use ARCA
[09:05] {goryl} ok
[09:05] {goryl} thanks
01[09:05] {Threei} make sure all route out boxes are checked
[09:06] {goryl} got it:)
[09:06] {dino} gm
01[09:06] {Threei} dino :)
[09:07] {cc_8} Command Security Corporation (NYSE: MOC) (the “Company”) announced the . resignation of Martin C.
[09:08] {goryl} how do u close windows in Laser? delete doesn't work..
[09:08] {cc_8} ctrl+f4
[09:08] {cc_8} or file/close
01[09:08] {Threei} hehe... this is great mystery of Laser
[09:09] {goryl} awesome, that was really annoying:)
[09:14] {dolores} hello GM
01[09:14] {Threei} dolores :)
[09:16] {Beau} gm
01[09:16] {Threei} beau :)
01[09:16] {Threei} are we making bets on who will mop the floor with whom today in the debate?
[09:18] {nemo} Obama much better public speaker
[09:18] {nemo} I watched Kennedy wipe the floor with Romney
01[09:18] {Threei} no doubt
[09:19] {nemo} oil down hard...mmmmhhhhh
[09:20] {ese} gm
01[09:20] {Threei} ese :)
[09:20] {ese} hey vad
[09:20] {Will49} GM
01[09:20] {Threei} will :)
[09:20] {ese} will
[09:21] {Will49} Hi E
[09:22] {nemo} I know this is going to sound strange coming from me, but...that tv series Once Upon A Time. They did a really good job with that
[09:22] {ese} haven't watched tv in about since 16 years since the kids were born..........whats it about
[09:22] {nemo} I watch it on Netflix
01[09:23] {Threei} too childish to me... looked at it when it started, couldn't get past 2nd episode
[09:23] {nemo} It's an interesting weaving of classic old fairy tales into modern day
[09:23] {nemo} Actually Vad, I can see that happening with you
[09:23] {nemo} Interesting premise
01[09:24] {Threei} I liked the idea during preview, but actual implementation felt that it was just done for kids
[09:24] {nemo} Funny, can you tell I trade...I went to open the netflix site and I typed "NFLX.com" in the browser window
01[09:24] {Threei} lol
[09:25] {dino} good show nemo
[09:26] {nemo} eye of the beholder of course
01[09:29] {Threei} FCX long on pullback is first idea
01[09:30] {Threei} Long Setup: FCX .90 break hl
01[09:31] {Threei} change to .85
01[09:31] {Threei} If holds .75
01[09:32] {Threei} target 1:2
[09:33] {nemo} the adp report wasn't bought this morning
01[09:34] {Threei} no go
01[09:38] {Threei} Short Setup: MOS .35 break
01[09:39] {Threei} If holds .45
[09:39] {nemo} 54.60 area if it breaks 55
01[09:40] {Threei} 1:1
[09:40] {dino} clb smr l .80
[09:41] {nemo} coh, below .75 short
[09:41] {nemo} stop above .80
01[09:41] {Threei} Short Setup: FCX .65 break
01[09:42] {Threei} If holds .75
01[09:43] {Threei} stop to .71
[09:43] {nemo} half .61
[09:44] {dino} gj
[09:45] {nemo} stop to .65ish
[09:45] {nemo} market looks ready to turn
01[09:45] {Threei} MOS 1:2
01[09:45] {Threei} 1/4 out
01[09:45] {Threei} will try to trail last part
01[09:46] {Threei} that 55 support is very lucrative to break
[09:46] {nemo} yep
01[09:46] {Threei} 1:3
[09:46] {nemo} 44.60ish
01[09:46] {Threei} stop .26
[09:47] {nemo} out coh
01[09:47] {Threei} FCX 1:1
01[09:48] {Threei} stop to .66 for the balance
01[09:48] {Threei} MOS stop to .21
[09:49] {nemo} ddd
[09:49] {nemo} sorry
01[09:49] {Threei} I think you tried to say "d-d-dddie, MOS"
01[09:50] {Threei} which it dddoes
01[09:50] {Threei} stop to .16
[09:50] {thomcbell} im still liking this gm long
01[09:51] {Threei} me too...
01[09:51] {Threei} MOS at 1:4
01[09:51] {Threei} not sure, to cover or try for nemo's target
01[09:51] {Threei} market is still weak
[09:51] {nemo} that's the 200 SMA
01[09:51] {Threei} let's try
[09:51] {nemo} it's gonna bounce hard there
01[09:51] {Threei} stop to .11
[09:52] {nemo} trying to defend here
[09:52] {nemo} hidden buyer
01[09:52] {Threei} 1:5
[09:53] {nemo} yeah baby
[09:53] {nemo} partial here if you have extra
[09:53] {nemo} else...Neil Diamond
01[09:53] {Threei} just 300 left
[09:53] {nemo} careful, market getting to bounce point
01[09:54] {Threei} OK, half of balance out
01[09:54] {Threei} 1/8, lol
[09:54] {nemo} used to do those in a night
[09:54] {nemo} oh
[09:54] {nemo} sorry
01[09:54] {Threei} fraction times are back? miss those 1/256
[09:55] {nemo} long tna .51 small
[09:55] {nemo} stop under .40
[09:55] {nemo} might be a tad premature
[09:56] {nemo} out
01[09:56] {Threei} stop is .96 now
[09:56] {nemo} that tail at the whole
[09:58] {dino} ll sm l .90
01[09:58] {Threei} over and out
[09:59] {nemo} not getting capitualtion volume spy
[09:59] {nemo} sneaky level
[09:59] {nemo} ism number
[09:59] {nemo} forgot about that
[09:59] {nemo} good numbers
[10:00] {nemo} beat 55.1 vs 53.5
[10:00] {nemo} now, let
[10:00] {nemo} s see if it gets bought
[10:00] {nemo} jobs weren't
[10:01] {nemo} this is interesting
[10:02] {nemo} whoa...good news sold
[10:02] {dino} fast fall
[10:02] {nemo} Here comes ANARCHY!!!! Yahooooooooo
[10:03] {dptl} gm
01[10:03] {Threei} dp :)
[10:03] {nemo} o.k. flyer watching LEN for a short
[10:03] {nemo} ahhh, the old shock the excrement out of them drop and then BTFD!
[10:04] {ese} that was interesting.....quick up quick dive........slow up here L AIG .51
[10:05] {nemo} oil was down pretty healthy today pre market, that was a tell
[10:06] {nemo} srpt going for pre market highs
01[10:08] {Threei} http://goo.gl/IrwiA
[10:09] {ese} something is outta wack somewhere.........bernakers "negative negative negative negative etc etc"..news "positive positive positive etc etc " for at least the last 2 maybe 3 months.......feels like a " you can fool some of the people some of the time but"............financial news ain't jivin with what he has to say
[10:09] {thomcbell} gm long setup - 23.86 break if holding 23.80
01[10:10] {Threei} I think you misread the whole thing, ese
[10:10] {nemo} yep
[10:10] {ese} out 1/2 wig ..72 +.21 1k to go
01[10:10] {Threei} there is no actual positive news in economy,
01[10:10] {Threei} there is positive numbers crerated by Bernanke's money injections
[10:10] {nemo} market a discounting mechanism
[10:10] {ese} all I know is that i'm makin money doing everthing opposite he says
[10:11] {nemo} it's looking at the fiscal "cliff"
01[10:11] {Threei} which he does because he a) sees negatives and b) thinks money injections fix those negatives
[10:11] {dino} inflate it away ese, print print print
01[10:11] {Threei} and you are making money in the MARKET
[10:11] {cc_8} Hearing Chatter Apple in Talks to Buy Pandora
01[10:11] {Threei} which has very little to do with actual economy and everything to do with his money injections
[10:11] {ese} aig stop balance .80
01[10:11] {Threei} so it works like this for you:
01[10:12] {Threei} he says things are bad,
01[10:12] {Threei} market knows it means abother money injections and goes up,
01[10:12] {Threei} you make money.
01[10:12] {Threei} see the logic?
[10:12] {ese} to .85
[10:12] {dino} not bad as in bad, but bad as in good
01[10:13] {Threei} exactly
01[10:13] {Threei} the worse ther better
[10:13] {nemo} look srpt dino
[10:13] {dino} crazy
[10:13] {nemo} was watching premarket, 36 was the high
[10:13] {ese} stopped balance wig .85 +.34...........thanks ladies and gents been nice workin with ya.......done for the day cya tomorrow
01[10:14] {Threei} ese
[10:14] {nemo} 40 then 42 next levels
[10:14] {ese} not wig ...aig
01[10:14] {Threei} before leaving, read the above
[10:14] {ese} ok
[10:14] {dino} gj ese
[10:14] {nemo} nflx
[10:14] {nemo} sorry
[10:14] {ese} tks
[10:14] {dino} lqdt sm l .75
[10:15] {nemo} GS and oil weak
[10:15] {ese} ok i see that logic
[10:16] {ese} been a nice 500 dollar day..........cya tomorrow
01[10:16] {Threei} and he complains about something?
[10:17] {dino} theres 42
01[10:17] {Threei} true resident of Victoria... they have the best climate in the country and whine about it all the time
[10:17] {ese} lol
[10:17] {nemo} wow srpt
01[10:17] {Threei} :)
[10:18] {Will49} hey.. watch it Vad
[10:18] {ese} and I'll whine more if the shiskabob party is cancelled
01[10:18] {Threei} hehe
[10:18] {ese} cya
01[10:18] {Threei} take care
[10:18] {Will49} good job E
[10:18] {nemo} A pal offesr this Romney zinger: "Don't worry, Mr. President, if I am elected, I won't blame you for anything that happens during my term"
01[10:18] {Threei} my favorite is:
01[10:19] {Threei} is Obama wins, just imagine a mess he inherits this time
01[10:19] {Threei} is = if
[10:19] {dino} lol
01[10:19] {Threei} that was very strange drop and climb
[10:19] {dptl} coh .80 l?
01[10:20] {Threei} both totally out of whack, not in tune woth anything on the chart
[10:20] {dino} out ll .29, +.39
01[10:21] {Threei} COH, I'd rewally prefer a pullback
[10:24] {dptl} wlp .20 s?
01[10:25] {Threei} probably
[10:27] {dptl} invalidated wlp
[10:31] {dptl} may be valid again
[10:32] {dptl} sigh not in a short list
[10:33] {dino} ocn sm s .00
01[10:36] {Threei} Long Setup: CLF 38 break
[10:38] {dino} ocn stop -.26
[10:38] {dptl} in .01
[10:39] {dino} kra sm l .25
[10:40] {nemo} tol
01[10:40] {Threei} no go
[10:40] {dptl} stopped
[10:40] {nemo} it'll test .55 area
[10:45] {nemo} hey Vad, see where MOS bottomed?
[10:45] {nemo} whish I had been paying attention
01[10:45] {Threei} yup
[10:46] {nemo} that was a gimmee
[10:46] {dino} ocn s .49
[10:49] {dino} cov ocn .30, +.19
[10:54] {dptl} pm .30 l?
01[10:54] {Threei} looks like
[10:57] {dptl} got .32
[10:58] {thomcbell} i flattened gm for a 0.02 cent loss
[10:59] {thomcbell} time stop
[11:01] {dino} ocn sm s .00
[11:03] {dino} kra stop -.23
[11:05] {dolores} POT?
[11:05] {nemo} lulu
01[11:06] {Threei} .70 break probably worth a try on POT
01[11:07] {Threei} frikin CLF rinsed
[11:07] {dino} cov ocn .70, +.30
[11:08] {nemo} lulu short below .80
[11:09] {nemo} if it stays below .90
[11:10] {dptl} half out pm
01[11:10] {Threei} good one
[11:10] {dptl} ty
[11:12] {dptl} out .59
[11:12] {dino} kra l .98
01[11:12] {Threei} POT looks ready
[11:13] {scottie} good job dp
[11:13] {dptl} ty
01[11:24] {Threei} invalid
[11:25] {dolores} POT not following the market or the other commodities
[11:28] {dino} following drugs
[11:30] {dino} \ocn sm s .65
01[11:33] {Threei} let's change our view on it
01[11:33] {Threei} Short Setup: POT .50 break
[11:35] {nemo} mon recovering market up on stong news...hehehehehe
[11:38] {dino} ocn stop -.18
[11:40] {thomcbell} gm gimme a break
[11:40] {thomcbell} lol
[11:42] {nemo} usg has 24% short interest
[11:46] {nemo} that was an interesting move
01[11:47] {Threei} VRNG Hearing company has received favorable court ruling on a motion in one of its ongoing patent cases
[11:49] {dino} ocn s .55
01[11:51] {Threei} Short Setup: HPQ .40 break
01[11:52] {Threei} If holds .50
01[11:52] {Threei} 1:1
[11:53] {dino} ocn to .35
01[11:54] {Threei} 1:2
[11:56] {nemo} just grinding higher
[11:56] {dino} cov ocn +.20
[11:57] {dptl} wlp .60 l?
01[11:57] {Threei} yup
[11:58] {dptl} stop would be .55 or .50?
01[11:58] {Threei} .50
[11:58] {dptl} ok ty
[11:59] {dino} asps smr s .42
[12:03] {dptl} vlo .76 l?
01[12:04] {Threei} 1:3, out
01[12:05] {Threei} yup, same setup as WLP
[12:11] {dptl} stop wlp
01[12:22] {Threei} VLO 1:1
[12:24] {dino} pcrx
[12:24] {robbers} Great day, catch you guys later. Thanks.
01[12:25] {Threei} take care robbers
[12:29] {dptl} jcp .15 l?
01[12:30] {Threei} nah
[12:34] {thomcbell} come on Vad -
[12:34] {thomcbell} gm
[12:34] {thomcbell} restless
01[12:34] {Threei} I liked it long earlier
[12:35] {thomcbell} i had the right set up never got stopped by the book - but sold it cause it was taking to long
01[12:38] {Threei} well... tnat's impatience talking
01[12:38] {Threei} who said money must bve made quickly? :)
[12:46] {goryl} Vad, how do u enable the fast sell feature in Laser?
01[12:49] {Threei} click Trade in Menu
01[12:49] {Threei} in dropdown menu, theree is a line Fast Sell, check it
[12:49] {goryl} its greyed out, maybe because its a demo??
01[12:50] {Threei} click on Level 2 window dirsat
01[12:50] {Threei} then on menu
01[12:50] {Threei} first
[12:52] {goryl} hmm
[12:53] {dptl} what do you think about gild , Vad?
01[12:54] {Threei} goryl, make sure Level II execution mode is also checked
01[12:55] {Threei} not sure dp
01[12:55] {Threei} a bit too slow
[12:55] {dptl} ok
[12:56] {goryl} ok, it is
[13:07] {dino} pssi drop
[13:08] {dino} sm l .35
[13:09] {dino} out .95, +.60
[13:17] {dptl} should of listened you with gild stopped out
01[13:17] {Threei} nobody ever listens to me
01[13:18] {Threei} why would you
[13:18] {nemo} srpt sheesh
[13:22] {dptl} pxp .50 s?
01[13:23] {Threei} if willing to take 506 cents scalp
01[13:23] {Threei} 5-6
[13:23] {dptl} nah..need more then that
01[13:29] {Threei} well... it had a bit more
[13:29] {dptl} :)
[13:29] {dptl} lcc?
[13:30] {dptl} clf .50 l?
01[13:31] {Threei} I think so
[13:33] {dptl} clf invalidated
[13:33] {dptl} lcc .60 s?
01[13:35] {Threei} if market drops with gusto, yes
01[13:38] {Threei} huh
01[13:38] {Threei} Wednesday, October 03, 2012 13:34:15 (ES) Spain Econ Min de Guindos: IMF will say yields on Spanish debt should be lower**Recall that German and Spanish finance ministers are meeting in Madrid today as part of a routine visit
01[13:38] {Threei} shrug
[13:39] {Will49} yawn
01[13:40] {Threei} t5his one is more negative but it was a while ago:
01[13:40] {Threei} (GR) Greece Fin Min Stournaras: Gap with Troika over cuts remains fairly large, working hard to reach a compromise ahead of the eurogroup meeting- Follow up: Troika sees Greece 2013 GDP -5% **Note that earlier today, a Greek press report said that IMF said to disagree with Greece's 2013 GDP forecast of -3.8%, see -4.5% as more realistic; deal will not likely be reached before summit. On Oct 2nd Greece Finance Minister Stournaras said he was uncertain whether or not a deal with Troika can be reached before the EU summit.
[13:42] {dptl} fdo .10 s?
01[13:42] {Threei} yup
01[13:42] {Threei} Short Setup: POT .35 break
01[13:48] {Threei} Invalidated
[13:50] {dptl} jeez...stopped fdo
[13:50] {nemo} woof
[13:51] {dptl} not my day
06[13:52] * nemo hands dp the vaseline
[13:53] {dptl} thanx man
06[13:54] * nemo hands dp Grey Goose
[13:54] {Will49} that would sting
[13:54] {nemo} that's for anesthesia
[13:55] {Will49} ooops
[13:59] {dptl} it's here again fdo
01[13:59] {Threei} (ES) Germany Fin Min reiterates Spain unlikely to need a bailout
01[13:59] {Threei} yeah yeah
[14:00] {dptl} wlt .25 s?
01[14:01] {Threei} yup
[14:03] {dptl} in
[14:04] {nemo} wow, going for the break on the daily
[14:09] {nemo} cog
[14:11] {nemo} tna worth a try here
[14:13] {dolores} HPQ hammered again breaking lows
[14:13] {goryl} see u all tomorrow
01[14:13] {Threei} take care goryl
[14:15] {dptl} fslr .90 s?
[14:16] {dptl} not shortable
[14:20] {Will49} tks dp wlt .10
[14:20] {dptl} yw i am still in
[14:22] {Will49} I bow to you
[14:23] {dptl} out some stop to .26
[14:25] {dptl} hopefully will fix a day a bit
01[14:26] {Threei} you ignored my trades or what
01[14:26] {Threei} they weren't nearly as bad as you make the day sound
[14:27] {dptl} no its all my trades Vad
[14:28] {dptl} was't in morning ..mised mos you know
[14:28] {Will49} nice call on WLT dp
01[14:28] {Threei} (ES) Germany Fin Min reiterates Spain unlikely to need a bailout, though Germany could be open to supporting an aid program if necessary - Japan press- Decision will come after a close examination of Spain's latest fiscal consolidation proposals. **NOTE: 9/21: (DE) Germany Fin Min Schaeuble: Spain does not need an aid program from the ESM. Germany has more to lose from an EMU failure. - 10/3: Finland PM Katainen: Spain will not require a full bailout - French press
01[14:29] {Threei} ok... let's all repeat 5 times: Spoain needs no bailout
[14:29] {nemo} puke
[14:29] {nemo} gag
01[14:29] {Threei} there... all better
[14:29] {dino} protest too much
[14:29] {Will49} yada yada yada
01[14:29] {Threei} if this works, I found solution to world hunger
01[14:29] {Threei} say "food" 5 times, and you are full
01[14:29] {Threei} say "vodka" 5 times and you are drunk
[14:30] {nemo} I prefer a few strategically detonated nuclear warheads
[14:31] {nemo} srpt...
[14:31] {nemo} was that harsh?
[14:33] {dino} expected
[14:33] {nemo} won't be much suffering
[14:33] {nemo} dead=good
[14:33] {nemo} half dead=not so good
[14:34] {Will49} dead people tend not to suffer
[14:35] {dptl} out
[14:36] {dptl} cog .50 s?
[14:39] {dptl} in .49
[14:43] {nemo} small long tna stop under .90
[14:45] {nemo} oy vey
[14:51] {robbers} Thanks, dp!
[14:52] {Will49} tks again dp
[14:53] {dolores} wow what was that TNA 20 cents down in 2 secs
[14:58] {nemo} happens
[14:59] {dptl} out .26 cog
[14:59] {Will49} goo one dp
[14:59] {Will49} good
[14:59] {dptl} thanx
[15:04] {nemo} little bounce here me thinks
[15:07] {nemo} this should be it
[15:07] {dolores} nemo you buying TNA?
[15:08] {nemo} yeah
[15:08] {dolores} where?
[15:08] {nemo} iwm bottomed at S1 FAS bottomed at vwap
[15:08] {nemo} .50
[15:08] {nemo} stop under the low
[15:09] {nemo} seems I stopped it
[15:10] {dolores} this market not very clear
[15:10] {nemo} yeah, there wasn't much volume at these levels
[15:11] {nemo} IWM drops this it tests the lows
[15:11] {dptl} lyb db?
[15:12] {nemo} mmmhhh, didn't hit my offer
[15:14] {nemo} next traget is the wholeish
[15:14] {nemo} spy gonna hesitate at .80
[15:14] {nemo} .88
[15:15] {nemo} maybe not
[15:15] {nemo} I'm ok with being wrong that way
[15:15] {nemo} offering .95 next bit
[15:17] {nemo} stop under .60
01[15:19] {Threei} Short Setup: HPQ .14 break
01[15:19] {Threei} If holds .20
[15:21] {dptl} can't
01[15:21] {Threei} what's it say?
[15:21] {dptl} error 3599
[15:22] {dptl} did you get it?
01[15:23] {Threei} ARCA, yes
[15:23] {dptl} hmm
[15:23] {dptl} will try next time
01[15:24] {Threei} half out here
[15:24] {dptl} nice
[15:26] {nemo} another partial, looking for 62.25
[15:28] {robbers} Out, thanks.
01[15:28] {Threei} 1/4 more out
01[15:28] {Threei} yw
[15:30] {nemo} vad you already published the log?
01[15:31] {Threei} just catch of the day part, not the room log
[15:31] {nemo} October Outlook
01[15:31] {Threei} yes
01[15:31] {Threei} http://tradinglog.realitytrader.com/2012/10/october-november-2012-outlook-trick-or.html
[15:32] {nemo} mmhhh stop under .70
[15:32] {nemo} for last
[15:32] {nemo} this oil drop is puzzling
[15:33] {nemo} stop now .74
01[15:33] {Threei} pre-debate orchestration?
[15:34] {nemo} yahoo, my new treestand came
[15:34] {robbers} I asked the other day if the drop might be partially political. One thing's for sure, if Obama has any leverage, he'd "encourage" the drop before the election.
01[15:35] {Threei} of coursxe... why wouldn't he
[15:36] {robbers} Question is, does the White House actually have influence. I believe it does. Ask Dick Cheney.
01[15:41] {Threei} die HPQ
01[15:41] {Threei} klose that .90
01[15:42] {Threei} good boy
[15:43] {dptl} nice trade Vad
01[15:43] {Threei} ty
01[15:43] {Threei} OK, my a$$ is out
01[15:44] {Threei} happy to finish day on such note
01[15:44] {Threei} thank you all, have a great evening
[15:44] {nemo} out at ..09 on tna
01[15:44] {Threei} see you tomorrow
[15:44] {robbers} TY!
[15:44] {dptl} gn all
[15:44] {robbers} gn
[15:45] {dolores} gn guys
[15:45] {dolores} thank you
A few more good trades and particularly two nice short trades on HPQ made the day solid black.
Session Time: Wed Oct 03 00:00:00 2012
[08:17] {nemo} Mmmmhhh subdued so far on the ADP report
[08:30] {nemo} hey dp 32 level srpt
[08:30] {nemo} spread tightened up here
[09:00] {goryl} gm
01[09:00] {Threei} morning goryl
[09:04] {scottie} GOOD MORNING
01[09:04] {Threei} scottie :)
[09:04] {scottie} I mean good morning
01[09:04] {Threei} I nearly fell off my chair
[09:04] {goryl} Vad, do you use NASDAQ as the Route in Level II?
01[09:04] {Threei} most often, yes
01[09:05] {Threei} if you want to short a stock that has dropped significantly already, better use ARCA
[09:05] {goryl} ok
[09:05] {goryl} thanks
01[09:05] {Threei} make sure all route out boxes are checked
[09:06] {goryl} got it:)
[09:06] {dino} gm
01[09:06] {Threei} dino :)
[09:07] {cc_8} Command Security Corporation (NYSE: MOC) (the “Company”) announced the . resignation of Martin C.
[09:08] {goryl} how do u close windows in Laser? delete doesn't work..
[09:08] {cc_8} ctrl+f4
[09:08] {cc_8} or file/close
01[09:08] {Threei} hehe... this is great mystery of Laser
[09:09] {goryl} awesome, that was really annoying:)
[09:14] {dolores} hello GM
01[09:14] {Threei} dolores :)
[09:16] {Beau} gm
01[09:16] {Threei} beau :)
01[09:16] {Threei} are we making bets on who will mop the floor with whom today in the debate?
[09:18] {nemo} Obama much better public speaker
[09:18] {nemo} I watched Kennedy wipe the floor with Romney
01[09:18] {Threei} no doubt
[09:19] {nemo} oil down hard...mmmmhhhhh
[09:20] {ese} gm
01[09:20] {Threei} ese :)
[09:20] {ese} hey vad
[09:20] {Will49} GM
01[09:20] {Threei} will :)
[09:20] {ese} will
[09:21] {Will49} Hi E
[09:22] {nemo} I know this is going to sound strange coming from me, but...that tv series Once Upon A Time. They did a really good job with that
[09:22] {ese} haven't watched tv in about since 16 years since the kids were born..........whats it about
[09:22] {nemo} I watch it on Netflix
01[09:23] {Threei} too childish to me... looked at it when it started, couldn't get past 2nd episode
[09:23] {nemo} It's an interesting weaving of classic old fairy tales into modern day
[09:23] {nemo} Actually Vad, I can see that happening with you
[09:23] {nemo} Interesting premise
01[09:24] {Threei} I liked the idea during preview, but actual implementation felt that it was just done for kids
[09:24] {nemo} Funny, can you tell I trade...I went to open the netflix site and I typed "NFLX.com" in the browser window
01[09:24] {Threei} lol
[09:25] {dino} good show nemo
[09:26] {nemo} eye of the beholder of course
01[09:29] {Threei} FCX long on pullback is first idea
01[09:30] {Threei} Long Setup: FCX .90 break hl
01[09:31] {Threei} change to .85
01[09:31] {Threei} If holds .75
01[09:32] {Threei} target 1:2
[09:33] {nemo} the adp report wasn't bought this morning
01[09:34] {Threei} no go
01[09:38] {Threei} Short Setup: MOS .35 break
01[09:39] {Threei} If holds .45
[09:39] {nemo} 54.60 area if it breaks 55
01[09:40] {Threei} 1:1
[09:40] {dino} clb smr l .80
[09:41] {nemo} coh, below .75 short
[09:41] {nemo} stop above .80
01[09:41] {Threei} Short Setup: FCX .65 break
01[09:42] {Threei} If holds .75
01[09:43] {Threei} stop to .71
[09:43] {nemo} half .61
[09:44] {dino} gj
[09:45] {nemo} stop to .65ish
[09:45] {nemo} market looks ready to turn
01[09:45] {Threei} MOS 1:2
01[09:45] {Threei} 1/4 out
01[09:45] {Threei} will try to trail last part
01[09:46] {Threei} that 55 support is very lucrative to break
[09:46] {nemo} yep
01[09:46] {Threei} 1:3
[09:46] {nemo} 44.60ish
01[09:46] {Threei} stop .26
[09:47] {nemo} out coh
01[09:47] {Threei} FCX 1:1
01[09:48] {Threei} stop to .66 for the balance
01[09:48] {Threei} MOS stop to .21
[09:49] {nemo} ddd
[09:49] {nemo} sorry
01[09:49] {Threei} I think you tried to say "d-d-dddie, MOS"
01[09:50] {Threei} which it dddoes
01[09:50] {Threei} stop to .16
[09:50] {thomcbell} im still liking this gm long
01[09:51] {Threei} me too...
01[09:51] {Threei} MOS at 1:4
01[09:51] {Threei} not sure, to cover or try for nemo's target
01[09:51] {Threei} market is still weak
[09:51] {nemo} that's the 200 SMA
01[09:51] {Threei} let's try
[09:51] {nemo} it's gonna bounce hard there
01[09:51] {Threei} stop to .11
[09:52] {nemo} trying to defend here
[09:52] {nemo} hidden buyer
01[09:52] {Threei} 1:5
[09:53] {nemo} yeah baby
[09:53] {nemo} partial here if you have extra
[09:53] {nemo} else...Neil Diamond
01[09:53] {Threei} just 300 left
[09:53] {nemo} careful, market getting to bounce point
01[09:54] {Threei} OK, half of balance out
01[09:54] {Threei} 1/8, lol
[09:54] {nemo} used to do those in a night
[09:54] {nemo} oh
[09:54] {nemo} sorry
01[09:54] {Threei} fraction times are back? miss those 1/256
[09:55] {nemo} long tna .51 small
[09:55] {nemo} stop under .40
[09:55] {nemo} might be a tad premature
[09:56] {nemo} out
01[09:56] {Threei} stop is .96 now
[09:56] {nemo} that tail at the whole
[09:58] {dino} ll sm l .90
01[09:58] {Threei} over and out
[09:59] {nemo} not getting capitualtion volume spy
[09:59] {nemo} sneaky level
[09:59] {nemo} ism number
[09:59] {nemo} forgot about that
[09:59] {nemo} good numbers
[10:00] {nemo} beat 55.1 vs 53.5
[10:00] {nemo} now, let
[10:00] {nemo} s see if it gets bought
[10:00] {nemo} jobs weren't
[10:01] {nemo} this is interesting
[10:02] {nemo} whoa...good news sold
[10:02] {dino} fast fall
[10:02] {nemo} Here comes ANARCHY!!!! Yahooooooooo
[10:03] {dptl} gm
01[10:03] {Threei} dp :)
[10:03] {nemo} o.k. flyer watching LEN for a short
[10:03] {nemo} ahhh, the old shock the excrement out of them drop and then BTFD!
[10:04] {ese} that was interesting.....quick up quick dive........slow up here L AIG .51
[10:05] {nemo} oil was down pretty healthy today pre market, that was a tell
[10:06] {nemo} srpt going for pre market highs
01[10:08] {Threei} http://goo.gl/IrwiA
[10:09] {ese} something is outta wack somewhere.........bernakers "negative negative negative negative etc etc"..news "positive positive positive etc etc " for at least the last 2 maybe 3 months.......feels like a " you can fool some of the people some of the time but"............financial news ain't jivin with what he has to say
[10:09] {thomcbell} gm long setup - 23.86 break if holding 23.80
01[10:10] {Threei} I think you misread the whole thing, ese
[10:10] {nemo} yep
[10:10] {ese} out 1/2 wig ..72 +.21 1k to go
01[10:10] {Threei} there is no actual positive news in economy,
01[10:10] {Threei} there is positive numbers crerated by Bernanke's money injections
[10:10] {nemo} market a discounting mechanism
[10:10] {ese} all I know is that i'm makin money doing everthing opposite he says
[10:11] {nemo} it's looking at the fiscal "cliff"
01[10:11] {Threei} which he does because he a) sees negatives and b) thinks money injections fix those negatives
[10:11] {dino} inflate it away ese, print print print
01[10:11] {Threei} and you are making money in the MARKET
[10:11] {cc_8} Hearing Chatter Apple in Talks to Buy Pandora
01[10:11] {Threei} which has very little to do with actual economy and everything to do with his money injections
[10:11] {ese} aig stop balance .80
01[10:11] {Threei} so it works like this for you:
01[10:12] {Threei} he says things are bad,
01[10:12] {Threei} market knows it means abother money injections and goes up,
01[10:12] {Threei} you make money.
01[10:12] {Threei} see the logic?
[10:12] {ese} to .85
[10:12] {dino} not bad as in bad, but bad as in good
01[10:13] {Threei} exactly
01[10:13] {Threei} the worse ther better
[10:13] {nemo} look srpt dino
[10:13] {dino} crazy
[10:13] {nemo} was watching premarket, 36 was the high
[10:13] {ese} stopped balance wig .85 +.34...........thanks ladies and gents been nice workin with ya.......done for the day cya tomorrow
01[10:14] {Threei} ese
[10:14] {nemo} 40 then 42 next levels
[10:14] {ese} not wig ...aig
01[10:14] {Threei} before leaving, read the above
[10:14] {ese} ok
[10:14] {dino} gj ese
[10:14] {nemo} nflx
[10:14] {nemo} sorry
[10:14] {ese} tks
[10:14] {dino} lqdt sm l .75
[10:15] {nemo} GS and oil weak
[10:15] {ese} ok i see that logic
[10:16] {ese} been a nice 500 dollar day..........cya tomorrow
01[10:16] {Threei} and he complains about something?
[10:17] {dino} theres 42
01[10:17] {Threei} true resident of Victoria... they have the best climate in the country and whine about it all the time
[10:17] {ese} lol
[10:17] {nemo} wow srpt
01[10:17] {Threei} :)
[10:18] {Will49} hey.. watch it Vad
[10:18] {ese} and I'll whine more if the shiskabob party is cancelled
01[10:18] {Threei} hehe
[10:18] {ese} cya
01[10:18] {Threei} take care
[10:18] {Will49} good job E
[10:18] {nemo} A pal offesr this Romney zinger: "Don't worry, Mr. President, if I am elected, I won't blame you for anything that happens during my term"
01[10:18] {Threei} my favorite is:
01[10:19] {Threei} is Obama wins, just imagine a mess he inherits this time
01[10:19] {Threei} is = if
[10:19] {dino} lol
01[10:19] {Threei} that was very strange drop and climb
[10:19] {dptl} coh .80 l?
01[10:20] {Threei} both totally out of whack, not in tune woth anything on the chart
[10:20] {dino} out ll .29, +.39
01[10:21] {Threei} COH, I'd rewally prefer a pullback
[10:24] {dptl} wlp .20 s?
01[10:25] {Threei} probably
[10:27] {dptl} invalidated wlp
[10:31] {dptl} may be valid again
[10:32] {dptl} sigh not in a short list
[10:33] {dino} ocn sm s .00
01[10:36] {Threei} Long Setup: CLF 38 break
[10:38] {dino} ocn stop -.26
[10:38] {dptl} in .01
[10:39] {dino} kra sm l .25
[10:40] {nemo} tol
01[10:40] {Threei} no go
[10:40] {dptl} stopped
[10:40] {nemo} it'll test .55 area
[10:45] {nemo} hey Vad, see where MOS bottomed?
[10:45] {nemo} whish I had been paying attention
01[10:45] {Threei} yup
[10:46] {nemo} that was a gimmee
[10:46] {dino} ocn s .49
[10:49] {dino} cov ocn .30, +.19
[10:54] {dptl} pm .30 l?
01[10:54] {Threei} looks like
[10:57] {dptl} got .32
[10:58] {thomcbell} i flattened gm for a 0.02 cent loss
[10:59] {thomcbell} time stop
[11:01] {dino} ocn sm s .00
[11:03] {dino} kra stop -.23
[11:05] {dolores} POT?
[11:05] {nemo} lulu
01[11:06] {Threei} .70 break probably worth a try on POT
01[11:07] {Threei} frikin CLF rinsed
[11:07] {dino} cov ocn .70, +.30
[11:08] {nemo} lulu short below .80
[11:09] {nemo} if it stays below .90
[11:10] {dptl} half out pm
01[11:10] {Threei} good one
[11:10] {dptl} ty
[11:12] {dptl} out .59
[11:12] {dino} kra l .98
01[11:12] {Threei} POT looks ready
[11:13] {scottie} good job dp
[11:13] {dptl} ty
01[11:24] {Threei} invalid
[11:25] {dolores} POT not following the market or the other commodities
[11:28] {dino} following drugs
[11:30] {dino} \ocn sm s .65
01[11:33] {Threei} let's change our view on it
01[11:33] {Threei} Short Setup: POT .50 break
[11:35] {nemo} mon recovering market up on stong news...hehehehehe
[11:38] {dino} ocn stop -.18
[11:40] {thomcbell} gm gimme a break
[11:40] {thomcbell} lol
[11:42] {nemo} usg has 24% short interest
[11:46] {nemo} that was an interesting move
01[11:47] {Threei} VRNG Hearing company has received favorable court ruling on a motion in one of its ongoing patent cases
[11:49] {dino} ocn s .55
01[11:51] {Threei} Short Setup: HPQ .40 break
01[11:52] {Threei} If holds .50
01[11:52] {Threei} 1:1
[11:53] {dino} ocn to .35
01[11:54] {Threei} 1:2
[11:56] {nemo} just grinding higher
[11:56] {dino} cov ocn +.20
[11:57] {dptl} wlp .60 l?
01[11:57] {Threei} yup
[11:58] {dptl} stop would be .55 or .50?
01[11:58] {Threei} .50
[11:58] {dptl} ok ty
[11:59] {dino} asps smr s .42
[12:03] {dptl} vlo .76 l?
01[12:04] {Threei} 1:3, out
01[12:05] {Threei} yup, same setup as WLP
[12:11] {dptl} stop wlp
01[12:22] {Threei} VLO 1:1
[12:24] {dino} pcrx
[12:24] {robbers} Great day, catch you guys later. Thanks.
01[12:25] {Threei} take care robbers
[12:29] {dptl} jcp .15 l?
01[12:30] {Threei} nah
[12:34] {thomcbell} come on Vad -
[12:34] {thomcbell} gm
[12:34] {thomcbell} restless
01[12:34] {Threei} I liked it long earlier
[12:35] {thomcbell} i had the right set up never got stopped by the book - but sold it cause it was taking to long
01[12:38] {Threei} well... tnat's impatience talking
01[12:38] {Threei} who said money must bve made quickly? :)
[12:46] {goryl} Vad, how do u enable the fast sell feature in Laser?
01[12:49] {Threei} click Trade in Menu
01[12:49] {Threei} in dropdown menu, theree is a line Fast Sell, check it
[12:49] {goryl} its greyed out, maybe because its a demo??
01[12:50] {Threei} click on Level 2 window dirsat
01[12:50] {Threei} then on menu
01[12:50] {Threei} first
[12:52] {goryl} hmm
[12:53] {dptl} what do you think about gild , Vad?
01[12:54] {Threei} goryl, make sure Level II execution mode is also checked
01[12:55] {Threei} not sure dp
01[12:55] {Threei} a bit too slow
[12:55] {dptl} ok
[12:56] {goryl} ok, it is
[13:07] {dino} pssi drop
[13:08] {dino} sm l .35
[13:09] {dino} out .95, +.60
[13:17] {dptl} should of listened you with gild stopped out
01[13:17] {Threei} nobody ever listens to me
01[13:18] {Threei} why would you
[13:18] {nemo} srpt sheesh
[13:22] {dptl} pxp .50 s?
01[13:23] {Threei} if willing to take 506 cents scalp
01[13:23] {Threei} 5-6
[13:23] {dptl} nah..need more then that
01[13:29] {Threei} well... it had a bit more
[13:29] {dptl} :)
[13:29] {dptl} lcc?
[13:30] {dptl} clf .50 l?
01[13:31] {Threei} I think so
[13:33] {dptl} clf invalidated
[13:33] {dptl} lcc .60 s?
01[13:35] {Threei} if market drops with gusto, yes
01[13:38] {Threei} huh
01[13:38] {Threei} Wednesday, October 03, 2012 13:34:15 (ES) Spain Econ Min de Guindos: IMF will say yields on Spanish debt should be lower**Recall that German and Spanish finance ministers are meeting in Madrid today as part of a routine visit
01[13:38] {Threei} shrug
[13:39] {Will49} yawn
01[13:40] {Threei} t5his one is more negative but it was a while ago:
01[13:40] {Threei} (GR) Greece Fin Min Stournaras: Gap with Troika over cuts remains fairly large, working hard to reach a compromise ahead of the eurogroup meeting- Follow up: Troika sees Greece 2013 GDP -5% **Note that earlier today, a Greek press report said that IMF said to disagree with Greece's 2013 GDP forecast of -3.8%, see -4.5% as more realistic; deal will not likely be reached before summit. On Oct 2nd Greece Finance Minister Stournaras said he was uncertain whether or not a deal with Troika can be reached before the EU summit.
[13:42] {dptl} fdo .10 s?
01[13:42] {Threei} yup
01[13:42] {Threei} Short Setup: POT .35 break
01[13:48] {Threei} Invalidated
[13:50] {dptl} jeez...stopped fdo
[13:50] {nemo} woof
[13:51] {dptl} not my day
06[13:52] * nemo hands dp the vaseline
[13:53] {dptl} thanx man
06[13:54] * nemo hands dp Grey Goose
[13:54] {Will49} that would sting
[13:54] {nemo} that's for anesthesia
[13:55] {Will49} ooops
[13:59] {dptl} it's here again fdo
01[13:59] {Threei} (ES) Germany Fin Min reiterates Spain unlikely to need a bailout
01[13:59] {Threei} yeah yeah
[14:00] {dptl} wlt .25 s?
01[14:01] {Threei} yup
[14:03] {dptl} in
[14:04] {nemo} wow, going for the break on the daily
[14:09] {nemo} cog
[14:11] {nemo} tna worth a try here
[14:13] {dolores} HPQ hammered again breaking lows
[14:13] {goryl} see u all tomorrow
01[14:13] {Threei} take care goryl
[14:15] {dptl} fslr .90 s?
[14:16] {dptl} not shortable
[14:20] {Will49} tks dp wlt .10
[14:20] {dptl} yw i am still in
[14:22] {Will49} I bow to you
[14:23] {dptl} out some stop to .26
[14:25] {dptl} hopefully will fix a day a bit
01[14:26] {Threei} you ignored my trades or what
01[14:26] {Threei} they weren't nearly as bad as you make the day sound
[14:27] {dptl} no its all my trades Vad
[14:28] {dptl} was't in morning ..mised mos you know
[14:28] {Will49} nice call on WLT dp
01[14:28] {Threei} (ES) Germany Fin Min reiterates Spain unlikely to need a bailout, though Germany could be open to supporting an aid program if necessary - Japan press- Decision will come after a close examination of Spain's latest fiscal consolidation proposals. **NOTE: 9/21: (DE) Germany Fin Min Schaeuble: Spain does not need an aid program from the ESM. Germany has more to lose from an EMU failure. - 10/3: Finland PM Katainen: Spain will not require a full bailout - French press
01[14:29] {Threei} ok... let's all repeat 5 times: Spoain needs no bailout
[14:29] {nemo} puke
[14:29] {nemo} gag
01[14:29] {Threei} there... all better
[14:29] {dino} protest too much
[14:29] {Will49} yada yada yada
01[14:29] {Threei} if this works, I found solution to world hunger
01[14:29] {Threei} say "food" 5 times, and you are full
01[14:29] {Threei} say "vodka" 5 times and you are drunk
[14:30] {nemo} I prefer a few strategically detonated nuclear warheads
[14:31] {nemo} srpt...
[14:31] {nemo} was that harsh?
[14:33] {dino} expected
[14:33] {nemo} won't be much suffering
[14:33] {nemo} dead=good
[14:33] {nemo} half dead=not so good
[14:34] {Will49} dead people tend not to suffer
[14:35] {dptl} out
[14:36] {dptl} cog .50 s?
[14:39] {dptl} in .49
[14:43] {nemo} small long tna stop under .90
[14:45] {nemo} oy vey
[14:51] {robbers} Thanks, dp!
[14:52] {Will49} tks again dp
[14:53] {dolores} wow what was that TNA 20 cents down in 2 secs
[14:58] {nemo} happens
[14:59] {dptl} out .26 cog
[14:59] {Will49} goo one dp
[14:59] {Will49} good
[14:59] {dptl} thanx
[15:04] {nemo} little bounce here me thinks
[15:07] {nemo} this should be it
[15:07] {dolores} nemo you buying TNA?
[15:08] {nemo} yeah
[15:08] {dolores} where?
[15:08] {nemo} iwm bottomed at S1 FAS bottomed at vwap
[15:08] {nemo} .50
[15:08] {nemo} stop under the low
[15:09] {nemo} seems I stopped it
[15:10] {dolores} this market not very clear
[15:10] {nemo} yeah, there wasn't much volume at these levels
[15:11] {nemo} IWM drops this it tests the lows
[15:11] {dptl} lyb db?
[15:12] {nemo} mmmhhh, didn't hit my offer
[15:14] {nemo} next traget is the wholeish
[15:14] {nemo} spy gonna hesitate at .80
[15:14] {nemo} .88
[15:15] {nemo} maybe not
[15:15] {nemo} I'm ok with being wrong that way
[15:15] {nemo} offering .95 next bit
[15:17] {nemo} stop under .60
01[15:19] {Threei} Short Setup: HPQ .14 break
01[15:19] {Threei} If holds .20
[15:21] {dptl} can't
01[15:21] {Threei} what's it say?
[15:21] {dptl} error 3599
[15:22] {dptl} did you get it?
01[15:23] {Threei} ARCA, yes
[15:23] {dptl} hmm
[15:23] {dptl} will try next time
01[15:24] {Threei} half out here
[15:24] {dptl} nice
[15:26] {nemo} another partial, looking for 62.25
[15:28] {robbers} Out, thanks.
01[15:28] {Threei} 1/4 more out
01[15:28] {Threei} yw
[15:30] {nemo} vad you already published the log?
01[15:31] {Threei} just catch of the day part, not the room log
[15:31] {nemo} October Outlook
01[15:31] {Threei} yes
01[15:31] {Threei} http://tradinglog.realitytrader.com/2012/10/october-november-2012-outlook-trick-or.html
[15:32] {nemo} mmhhh stop under .70
[15:32] {nemo} for last
[15:32] {nemo} this oil drop is puzzling
[15:33] {nemo} stop now .74
01[15:33] {Threei} pre-debate orchestration?
[15:34] {nemo} yahoo, my new treestand came
[15:34] {robbers} I asked the other day if the drop might be partially political. One thing's for sure, if Obama has any leverage, he'd "encourage" the drop before the election.
01[15:35] {Threei} of coursxe... why wouldn't he
[15:36] {robbers} Question is, does the White House actually have influence. I believe it does. Ask Dick Cheney.
01[15:41] {Threei} die HPQ
01[15:41] {Threei} klose that .90
01[15:42] {Threei} good boy
[15:43] {dptl} nice trade Vad
01[15:43] {Threei} ty
01[15:43] {Threei} OK, my a$$ is out
01[15:44] {Threei} happy to finish day on such note
01[15:44] {Threei} thank you all, have a great evening
[15:44] {nemo} out at ..09 on tna
01[15:44] {Threei} see you tomorrow
[15:44] {robbers} TY!
[15:44] {dptl} gn all
[15:44] {robbers} gn
[15:45] {dolores} gn guys
[15:45] {dolores} thank you
Tuesday, October 2, 2012
Oct 2 2012
Very nice start to October, despite severe jet lag. Trade after trade just worked.
Session Time: Tue Oct 02 00:00:00 2012
[07:49] {nemo} That slacker Vad show up yet?
01[08:50] {Threei} ummm.... yes....
01[08:50] {Threei} although with this jerking time zones around, hard to twll
[08:58] {goryl} gm and welcome back
01[09:01] {Threei} morning, thank you
[09:02] {jackharry} good morning
01[09:02] {Threei} jack :)
[09:05] {scottie} GM
01[09:05] {Threei} scottie :)
[09:06] {scottie} How was the conference ?
01[09:07] {Threei} conference itself, great. Had real fun speaking, social finctions before and after were great too
01[09:07] {Threei} might be a bit more careful with icy cold Sleeman the night before speaking next time,
01[09:08] {Threei} for a few min after waking up it felt like I lost my voice, lol
01[09:08] {Threei} I am not a big fan of Toronto though, something in that city disagees with me
01[09:09] {Threei} and quick time zone change back and forth is a bitch
[09:09] {scottie} Too far from the ocean
01[09:09] {Threei} Montreal however was absolutely fantastic
[09:09] {dino} gm
01[09:09] {Threei} love that city
01[09:09] {Threei} dino :)
01[09:10] {Threei} good thing I don't live there, or I would be twice the size in a hurry, lol
01[09:10] {Threei} what with amazingly tasty things everywhere
[09:10] {scottie} french cuisine, lol
01[09:10] {Threei} montreal smoked meat, mama mia
01[09:11] {Threei} waiter was very skeptical when I ordered large dish
01[09:12] {Threei} and very respectful when came back in 20 min
[09:13] {scottie} My step daughter lives in Montreal and brings me some fresh smoked meat everytime she comes to visit, mmmmmm.
01[09:13] {Threei} :)
[09:14] {Beau} gm
01[09:14] {Threei} beau :)
[09:15] {Beau} welcome back vad
[09:16] {robbers} Glad to have you back, Vad.
[09:16] {Beau} hope lecture went well
01[09:16] {Threei} thanks guys
01[09:16] {Threei} very
01[09:17] {Threei} firast exclamation I heard after finishing was, "that alone was worth the price of adnmission"
01[09:17] {Threei} and judging by the nimber of drinks offered during pub night later, it was sincere, lol
[09:20] {Will49} Good Morning
01[09:20] {Threei} will :)
[09:20] {Will49} Back safe I see
01[09:21] {Threei} yes... deeply asleep though
[09:24] {cipher} gm
01[09:25] {Threei} cipher :)
01[09:25] {Threei} no clear feel for the opening yet
01[09:28] {Threei} FCX looks rather weak
01[09:32] {Threei} Short Setup: FCX .25 break hl
01[09:33] {Threei} If holds .32
01[09:33] {Threei} Invalidated
01[09:34] {Threei} valid again
01[09:34] {Threei} with .35 as a stop level
01[09:37] {Threei} stop to .31
01[09:37] {Threei} 1:1
01[09:37] {Threei} 1:2, out
[09:38] {scottie} +.10 ty
[09:38] {Will49} good start
01[09:38] {Threei} :)
[09:38] {robbers} no hangover for Vad.
01[09:38] {Threei} but jet lag is real bitch
[09:38] {thomcbell} good one vad
01[09:38] {Threei} ty
01[09:39] {Threei} Short Setup: LVS 46 break hl
01[09:39] {Threei} If holds .10
01[09:39] {Threei} ummm
01[09:39] {Threei} 1:1
01[09:40] {Threei} don't know about you but I couldn't get it
[09:40] {scottie} not here
[09:40] {Will49} nor me
[09:40] {robbers} nope.
01[09:40] {Threei} Short Setup: SLW .95 break
01[09:41] {Threei} stop .04
01[09:42] {Threei} 1:1
01[09:43] {Threei} Long Setup: CX 40 break hl
01[09:43] {Threei} FCX
01[09:43] {Threei} If holds .90
01[09:44] {Threei} 1:1
[09:45] {goryl} Vad's on fire again:)
[09:45] {robbers} fantastic trading, worth the price of admission.
01[09:45] {Threei} hehe...
[09:45] {dino} pbm?
01[09:46] {Threei} Pacific Booker Minerals (US Ticker: PBM) trades lower after British Columbia govt yesterday rejected its plan for a copper and gold mine at Morrison Lake due to environmental threat to salmon in the Skeena River- The lake is at the headwaters of the Skeena River, which produces BC's second-largest sockeye salmon run.
[09:47] {thomcbell} slw diverging from gdx again
[09:47] {thomcbell} both down but slw leading
01[09:47] {Threei} half here still
01[09:47] {Threei} didn't get hit at 1:2
[09:49] {dino} thx vad
01[09:51] {Threei} SLW 1:2, out
[09:51] {Will49} welcome home
01[09:51] {Threei} :)
01[09:52] {Threei} oh, and btw... as far as attention-getters go, it does wonders to your presentation to begin it woth words "the world is full idiots"
[09:52] {dolores} hi there welcome
01[09:52] {Threei} hi' dolores
[09:52] {Will49} you actually said that?
01[09:52] {Threei} yes
01[09:53] {Threei} missed couple nice winners, dolores
[09:53] {Will49} hope the attendees didn't take it personally
[09:54] {dolores} pity
01[09:55] {Threei} Short Setup: CAT .10 break hl
01[09:55] {Threei} If holds .20
[09:57] {dino} clb smr l .24 gappy
[09:58] {dino} pcs spike
01[09:59] {Threei} 1:1
01[09:59] {Threei} 1:2, out
[10:00] {scottie} +.17 ty Vad
01[10:00] {Threei} what is it, fish in a barrel day?
01[10:00] {Threei} yw
[10:01] {Will49} Yipee
[10:01] {nemo} wow that's a first...
[10:01] {nemo} I'm eating tortilla chips, frickin' rabbit jumps up in my lap
01[10:01] {Threei} Short Setup: SLW .60 break
01[10:02] {Threei} let's keep .66 stop
01[10:02] {Threei} don't want to give it full room
01[10:03] {Threei} bid half around .52
01[10:03] {Threei} hit
01[10:03] {Threei} stop .61
[10:04] {dptl} gm
01[10:04] {Threei} out
01[10:04] {Threei} .42
01[10:04] {Threei} dp :)
06[10:04] * Threei sings "fiiish in a baaaarel" to the tune of "smoke on the water"
[10:04] {robbers} What's next, Vad, a stock with the symbol: FISH ?
[10:04] {scottie} out .48 +.12 tks Vad (again)
01[10:04] {Threei} lol
01[10:04] {Threei} yw
[10:05] {Will49} we should get you jet-lagged once a week
01[10:06] {Threei} life will be fiery... and very short, lol
[10:10] {nemo} ilmn in reshort area
[10:10] {dptl} pay .80 short?
01[10:12] {Threei} can't tell, trades strangely a bit
[10:12] {nemo} fits dp
[10:13] {dptl} invalidated anyway
[10:13] {nemo} mos
[10:13] {nemo} ilmn
[10:14] {nemo} sorry
01[10:14] {Threei} Long Setup: MON .20 break
01[10:14] {Threei} aww, late
01[10:14] {Threei} ok, let's let it go
01[10:14] {Threei} with 4 for 4, no need to chase
[10:14] {dptl} con .05 ? long
[10:15] {Will49} is there ever a need to chase?
[10:15] {dptl} coh
[10:15] {nemo} short
[10:15] {nemo} stop needs to be .15 though
[10:15] {nemo} kors
[10:15] {nemo} sorry
[10:17] {Will49} dp one nemo 0
[10:17] {dptl} half out coh
[10:18] {Will49} but who's keeping score?
[10:18] {nemo} well, it's right at my stop
[10:19] {nemo} cat
[10:25] {dptl} out some more coh
01[10:25] {Threei} wtg
[10:25] {robbers} nice, dp
[10:26] {dptl} ty
[10:26] {dptl} stop under .10 for last piece
[10:29] {nemo} boy does wlp have a bid under it
[10:30] {nemo} should see resistance by .30 though
[10:31] {dptl} stop to .15 coh
[10:32] {nemo} pivot is .13 dp
[10:32] {dptl} ye i see that
01[10:32] {Threei} Long Setup: CAT .30 break hl
01[10:32] {Threei} If holds .20
[10:32] {dptl} wanna see if it gets to .50
01[10:33] {Threei} Invalidated
[10:33] {nemo} after that is .80 area
[10:33] {dptl} yep
[10:34] {nemo} cog
[10:34] {scottie} mos l 56 ?
[10:35] {nemo} .15-.20 area resistance not much room
[10:35] {scottie} tks
[10:35] {dptl} trail to under .20 now coh
01[10:35] {Threei} not liking it very much
[10:36] {dptl} to .24 now
[10:37] {nemo} jeeez...dp you can go home early
[10:38] {dptl} no, i have to work have to fix things :)
[10:38] {dino} hlf spike
[10:40] {dino} actg drop
[10:41] {nemo} oh great...it's pink month in the NFL
[10:41] {dino} hlf sm s .06
[10:42] {dino} gmcr drop
[10:42] {dino} hlf stop
[10:43] {nemo} 53.57-.75
01[10:44] {Threei} Long Setup: MOS .50 break
[10:44] {dino} see it, but spike is einhorn not offerig thesis, so, still short just not saying why spike
01[10:45] {Threei} stop .44 for scalpers, .39 day traders
[10:45] {dino} break .00
01[10:45] {Threei} 1:1
[10:47] {nemo} mos likely headed to the 200SMA although I have suport between 55.20-.30
[10:52] {dptl} out coh
[10:52] {Will49} saaweeeeet... dp
[10:52] {dptl} :)
01[10:53] {Threei} very nice
01[10:55] {Threei} General Motors Corp Greenlight Capital's Einhorn: I am long General Motors, GM is much healthier now - Value Investor Congress- Brand quality is improving across the board
01[10:56] {Threei} (EU) France PM Ayrault: Any exits from the EMU need to be ruled out - comments at National Assembly
01[10:56] {Threei} wow, really?
01[10:56] {Threei} hotel california?
01[10:57] {Threei} there was one comment in yesterday's news that floored me... ECB threatening to replace Rajoy if he doesn't request bailout nearest weeks
01[10:57] {Threei} slip of tongue?
01[11:00] {Threei} ah, new word to describe my presentation: phenomenal
[11:02] {nemo} dov probably going to the whole
01[11:05] {Threei} Short Setup: CAT .60 break
01[11:05] {Threei} If holds .70
[11:09] {dino} out clb .58, +1.34
01[11:10] {Threei} nope
[11:10] {scottie} gj dino wow
01[11:11] {Threei} wtg
[11:11] {Will49} OK dino!
[11:11] {dino} ty
[11:12] {Will49} you can go home with dp
[11:14] {dino} yum drop
[11:14] {dino} lol will
[11:16] {dino} hlf sm s .00
[11:17] {nemo} wow dks
[11:23] {scottie} ci .80 long ?
01[11:25] {Threei} feels like short to me
[11:25] {scottie} ok tks
[11:25] {scottie} Why isn't it a JBE
[11:25] {dino} srpt drop
01[11:26] {Threei} it is... but volume is almost disappeared
01[11:26] {Threei} and I am not a fan of JBE breaks on no volume
[11:26] {scottie} I see
01[11:26] {Threei} they turn traps too often
[11:33] {dino} hlf stop
[11:36] {dino} mkt drop
[11:41] {nemo} ilmn 51 level inflection
[11:42] {nemo} we did a S_load of volume on the SPY over the last few minutes, this could be the bottom
[11:43] {dino} clb smr l .15 wide
01[11:44] {Threei} don't see news for this drop
[11:47] {dino} cmo drop
[11:48] {dino} sm l .80
[11:49] {dino} 07 still scrolling red, gut says down
01[11:52] {Threei} mine too
[11:57] {nemo} bear flag spy iwm
[12:00] {dino} cmo to .06
[12:03] {dino} ssys sm l .25, wide
[12:03] {dino} out cmo .09, +.29
[12:05] {thomcbell} gm looking long here
[12:07] {dptl} clf .20 s ?
01[12:07] {Threei} I think so
[12:09] {dptl} ok in
[12:09] {dptl} .19
[12:10] {nemo} spxu long
[12:10] {dptl} oops stopped
[12:12] {nemo} nope
[12:14] {nemo} dks short .00
[12:22] {dptl} wlp .40 long?
01[12:22] {Threei} probably... but not much confidence... 51/49
[12:28] {dptl} dg .35 s? but a bit slow
01[12:29] {Threei} not sure
[12:30] {dptl} lrcx .05 l?
01[12:30] {Threei} nah, too narrow
[12:34] {dptl} clf rinsed most likly
[12:36] {thomcbell} gm definitely one to look for additional long entries
[12:36] {thomcbell} einhorn - the short seller likes it long
[12:36] {thomcbell} kind of like a double endorsement
[12:41] {dino} arlp drop
[12:45] {thomcbell} gm beast
[12:55] {dino} ssys stop -.25
01[13:01] {Threei} Short Setup: CAT .45 break
01[13:01] {Threei} Invalidated
01[13:19] {Threei} this market stall looks to me like most likely to resolve in selling
[13:19] {dino} ssys sm l .04
[13:20] {nemo} dks
[13:27] {dptl} lost connection to laser...anyone?
[13:27] {Will49} I'm good
[13:27] {Will49} are you on shaw.ca dp?
01[13:28] {Threei} back on
[13:28] {dptl} came up now
[13:31] {dino} acom
01[13:34] {Threei} Short Setup: CAT .60 break
01[13:35] {Threei} If holds .70
01[13:36] {Threei} nope
[13:55] {nemo} whoa
01[13:55] {Threei} (GR) Greece Fin Min Stournas: Uncertain whether or not a deal with Troika can be reached before the EU summit; talks are continuing- Note: The EU summit is scheduled for Oct 18-19
01[13:55] {Threei} I don't think that's what caused selling though
01[13:56] {Threei} this was 10 min ago
[14:05] {scottie} ne s 35 ?
01[14:05] {Threei} I think so
01[14:05] {Threei} looks promising
[14:21] {scottie} wrong direction
01[14:23] {Threei} not much verve either way
01[14:26] {Threei} IMO, still valid
[14:26] {dptl} jcp .50 s?
[14:26] {Will49} short under 35?
[14:26] {Will49} ne
01[14:26] {Threei} right
[14:26] {Will49} tks
01[14:26] {Threei} I think so JCP
[14:31] {dptl} stop .55?
01[14:31] {Threei} .57
[14:37] {goryl} thanks Vad, see u all tomorrow
[14:39] {Will49} cheers goryl
[14:41] {dptl} invalidated jcp
01[14:42] {Threei} take care goryl
01[14:44] {Threei} JCP is valid again IMO
[14:47] {Will49} JCP behaving like my ex-wife
[14:48] {scottie} lol
[14:48] {Will49} fill in your own blank here________
[14:56] {dino} here it finally goes, out ssys .14, +1.10
[14:56] {scottie} great dino
[14:56] {dino} ty
01[14:56] {Threei} very nice
[14:58] {dptl} injcp
[15:00] {scottie} in too .49
[15:00] {dptl} now all we need is Vad stick
[15:00] {scottie} stop .58 ?
01[15:00] {Threei} yup
[15:00] {Will49} me too
[15:03] {dptl} out half
01[15:05] {Threei} yup
[15:06] {dptl} if breaks .37 will go to .25
[15:07] {dptl} well most likly
[15:11] {dptl} OUT
[15:11] {dptl} oops
[15:12] {scottie} out +.19 tks dp
[15:12] {Will49} .18 tks dp
[15:12] {dptl} yw ...ok got to go....see ya tomorrow all...good evening..
[15:12] {jackharry} +.23, thank you
[15:12] {robbers} +.12, thanks.
01[15:13] {Threei} :)
[15:16] {Will49} grab the money and run dp
[15:17] {scottie} see you dp
[15:23] {nemo} is the market trading
01[15:23] {Threei} it does when drops
01[15:23] {Threei} ceases when climbs
[15:36] {scottie} brcm 34 if holds .95 ?
01[15:36] {Threei} 5 cents batle
[15:37] {scottie} ok
[15:47] {scottie} ok, see you tomorrow guys
01[15:48] {Threei} thank you all
[15:48] {Will49} Great day Vad...see ya
01[15:48] {Threei} have a great evening, see you tomorrow hopefully lessd jet-lagged
[15:48] {Will49} don't change a thing :)
[15:50] {dolores} bye guys take care
[15:50] {dolores} have a good evening
[15:50] {dolores} the best thing for jetlag is a good vodka !!!
Saturday, September 29, 2012
Nemo's Findings week of 9/30/2012
(Course on chart pattern recognition is available now: http://www.realitytrader.com/111trades.html
9/25/2012: Well, got my gap up...and then it dropped. CAT did sell off today, and we've now pretty much retraced the Bernanke bounce. Notice how the Action in the SPY IWM and FAS topped out at or near the Weekly pivots
9/26/2012: Well, that was interesting. Many of the high-fliers continued to get their wings clipped. We passed below the Weekly S3's on IWM and SPY, regaining IWM's before the close. Tight bands this week, so although that is rare to exceed that range, not so much when the bands are so tight. At the close, it looks like a consolidation that should open higher tomorrow. We'll see. Having said that Europe, more specifically, Greece, and Spain, are facing social unrest. Trend is still intact..no worries yet, although doesn't look like we'll get to 153 spy this month...sniff...sniff.
a summation of where we stand: http://www.businessinsider.com/market-developments-september-26-2012-9
on another note, this is actually from last month, but as I said see it pretty much every morning. Beware the wilds of premarket ;-)
Interesting, headlines touting the lower than expected initial claims, guess they missed the continuing and the other economic news that came out today
So, bad news was bought...off of support. http://www.businessinsider.com/closing-bell-27-2012-9
9/28/2012:
NKE sold off after earnings last night, and what did it do recovered the $4 today to go green and then gave up a buck into the close-pretty strong.
Here are the economic reports today:
The Week That Is: ALL NEW WEEKLY MONTHLY AND QUARTERLY PIVOTS
Won't be expounding this week. New quarterly monthly and weekly levels kept me busy
The Week that Was:
9/24/2012: Well, pre-market things are looking rather negative. This story about Greece broke over the weekend. No real surprise, but... http://goo.gl/VGxoZ
The Week that Was:
9/24/2012: Well, pre-market things are looking rather negative. This story about Greece broke over the weekend. No real surprise, but... http://goo.gl/VGxoZ
Markets opened down and stayed within ranges bound by multi-timeframe confluences. Notice IWM bottomed at WS1 which corresponded to that red line which is one of those swing high levels I thought might corral the price action if we consolidated for awhile. Finnies just barely negative. Not much to really say. Nothing specific happened during the day. After hours CAT lowered guidance on earnings...let's see how the market treats that information tomorrow. So far at 4:15 EDT 89.00 is the low.
9/25/2012: Well, got my gap up...and then it dropped. CAT did sell off today, and we've now pretty much retraced the Bernanke bounce. Notice how the Action in the SPY IWM and FAS topped out at or near the Weekly pivots
9/26/2012: Well, that was interesting. Many of the high-fliers continued to get their wings clipped. We passed below the Weekly S3's on IWM and SPY, regaining IWM's before the close. Tight bands this week, so although that is rare to exceed that range, not so much when the bands are so tight. At the close, it looks like a consolidation that should open higher tomorrow. We'll see. Having said that Europe, more specifically, Greece, and Spain, are facing social unrest. Trend is still intact..no worries yet, although doesn't look like we'll get to 153 spy this month...sniff...sniff.
a summation of where we stand: http://www.businessinsider.com/market-developments-september-26-2012-9
on another note, this is actually from last month, but as I said see it pretty much every morning. Beware the wilds of premarket ;-)
9/27/2012: Whaddya' know opened higher....sunk a bit but bottomed at IWM WS3, just above the daily pivot on SPY and touching the daily pivot on the QQQ-they call it confluence... and then the market ripped north. Mark-up end of quarter? Let's see if we get back to the Weekly pivots tomorrow. That seems to be where we've been ending up at the end of the week. Compare yesterday's chart with today's and you can more clearly see the double bottom formations (the reason why I thought we'd go higher today) now that the action has resolved higher.
Interesting, headlines touting the lower than expected initial claims, guess they missed the continuing and the other economic news that came out today
So, bad news was bought...off of support. http://www.businessinsider.com/closing-bell-27-2012-9
9/28/2012:
NKE sold off after earnings last night, and what did it do recovered the $4 today to go green and then gave up a buck into the close-pretty strong.
Here are the economic reports today:
And the market did sell off today but we're above yesterday's lows. Wild action in the spy at the end of the day took out shorts bouncing right at the Monthly S3, then touching the Monthly R1 before closing near VWAP.
Well, we didn't get to 153 on the SPY this month, looking at the final week and this last day:
Both SPY and IWM topped out at the Weekly Pivots. Arguably these last three days created a head and shoulders bear flag formation on IWM SPY and FAS, although not on this graphic, the same goes for the Qs. Doesn't bode well for higher prices, but they have to drop these weekly lows.
If SPY drops the lows 142 becomes a probable bounce spot.
If IWM drops the lows there is actually the gap between 82.10ish and 82.50ish. with the rising 50SMA and fib retracements likely to come in between 81.60 and 82 if the price action heads that way.
The Qs have the rising 50SMA at 67.60ish and a gap at 67.20, below that the gap and Yearly R2 at 65.10
The Week That Is: ALL NEW WEEKLY MONTHLY AND QUARTERLY PIVOTS
IWM: Interesting how the new Monthly Pivot is so close to the closing price on Friday.
Between here and the rising 200SMA at 79.70ish there is a confluence zone between 82.20 and 82.50. then the rising 50 SMA at 81.50ish. Should action goes higher.
SPY:The structure is similar to IWM. Significant areas of downside support at the 141.50 area area then volume support between 140.25-.50. Then of course the rising 200 SMA down at 136.
QQQ: some confluence resistance at 70.30ish and then again in the 72 area. Support at the rising 50sma, and then of course at the Quarterly Pivot.
Anyway, that's it for the week.
Wednesday, September 26, 2012
Sep 26 2012
ATTENTION: There won't be logs posted till Tuesday Oct 2. If you want to register for a trial, hold your horses till then. Do not forget to check the log over the weekend for Nemo's Last Week, Next Week post. There won't be market week wrap-up either.
Session Time: Wed Sep 26 00:00:00 2012
[08:52] {goryl} gm
01[08:55] {Threei} morning
[08:57] {cipher} gm
01[08:59] {Threei} cipher :)
[09:02] {jackharry} good morning
01[09:02] {Threei} jack :)
[09:12] {scottie} gm
01[09:13] {Threei} scottie :)
[09:21] {ese} gm
01[09:21] {Threei} ese :)
[09:22] {Will49} Good morning!
01[09:22] {Threei} will :)
[09:22] {Beau} gm
01[09:22] {Threei} beau :)
[09:22] {ese} vad Will Beau
[09:26] {nemo} Beau, sorry I missed your question, what was it again?
[09:29] {nemo} numbers at 10
01[09:30] {Threei} Short Setup: FCX 39 break hl
01[09:30] {Threei} yeah right
01[09:30] {Threei} lol
[09:30] {jackharry} A little too fast!!
[09:30] {Will49} yikes
[09:31] {robbers} too late to get in? lol
01[09:31] {Threei} hehe
01[09:31] {Threei} 40 cents drop in one gasp
[09:31] {nemo} no, go ahead, just adjust your stop
[09:31] {nemo} teensie weensie bit
01[09:31] {Threei} I mean 45
01[09:32] {Threei} Short Setup: SLW 39 break hl
01[09:32] {Threei} 37
01[09:33] {Threei} If holds .10
[09:34] {jackharry} Oh come on!!
01[09:34] {Threei} how about that
01[09:36] {Threei} another 40 center with no chance to enter
[09:36] {robbers} rude of it not to wait for us
01[09:37] {Threei} yes but gives me a chance to practice my rhyming
[09:37] {Beau} nemo, interested in your spike play. how you define spike-points up,or numb bars or time or?. how volumn fits in. and drops will happen after first down bar? take your time will be here.
01[09:38] {Threei} Long Setup: LVS .85 break hl
[09:38] {Beau} your years of experience in one minute
01[09:38] {Threei} 1:1
01[09:38] {Threei} any better than first two?
[09:38] {jackharry} nope
[09:38] {scottie} no
01[09:38] {Threei} thought so
[09:39] {Will49} no
01[09:40] {Threei} same setup once again, LVS
01[09:41] {Threei} Long Setup: FCX .05 break hl
01[09:41] {Threei} If holds 38
01[09:41] {Threei} both are invalidated
01[09:41] {Threei} FCS 38 break
01[09:41] {Threei} FCX
01[09:42] {Threei} Long Setup: SLW .40 break
01[09:43] {Threei} Long Setup: FCX .90 break
01[09:43] {Threei} 10 cents stops on both
01[09:44] {Threei} SLW 1:1
01[09:44] {Threei} ditto FCX
01[09:45] {Threei} both were obtainable this time around
[09:45] {scottie} + .15 on both, ty Vad
01[09:45] {Threei} :)
[09:46] {jackharry} caught both, thank you
01[09:46] {Threei} yw
[09:47] {dptl} gm
[09:49] {jackharry} had offer on fcx of 38.08, which was its high, but didnt hit, got taken at .98 on trail which was annoying, however had offer on slw of .58 which was also its high and it did hit so cant complain
01[09:49] {Threei} FCX reached it now
01[09:49] {Threei} dp :)
[09:50] {nemo} arguably long setup spy iwm
[09:51] {nemo} methinks this is shakeout action before the housing numbers
[09:51] {robbers} Oil under $90 FWIW.
01[09:52] {Threei} good but give me a shout when it's under 30
01[09:52] {Threei} where it should be with this economy
01[09:52] {Threei} and would be if not OPEC monopoly
01[09:53] {Threei} Long Setup: LVS .55 break
01[09:54] {Threei} change to .50
01[09:56] {Threei} stop .44
[09:58] {dptl} anf .20 long?
[09:58] {nemo} and the number is....\
01[09:58] {Threei} chart is right but let's wait out numbers
[09:59] {nemo} yep
[09:59] {dptl} right, numbers..ty
[09:59] {nemo} numbers good
01[10:00] {Threei} nope
01[10:00] {Threei} 373 v 380
[10:00] {nemo} frickin' pessimists
01[10:01] {Threei} lol
01[10:02] {Threei} no go LVS
[10:02] {nemo} Jews skipping work today
01[10:04] {Threei} ANF worked nicely
[10:05] {dptl} vlo 31 short?
01[10:05] {Threei} yup
[10:06] {scottie} amx s .60 ?
01[10:07] {Threei} probably not
[10:08] {scottie} ok
[10:09] {dolores} hello GM
01[10:09] {Threei} morning dolores
[10:10] {nemo} kors
[10:10] {nemo} too late
01[10:10] {Threei} look at FCX
01[10:11] {Threei} did we nail that reversal point wth cent-precision or what
[10:11] {dptl} damn vlo too fast
[10:12] {Will49} understatment
[10:12] {scottie} missed it too dp
[10:13] {dptl} there was not a chance ...well .97 had just like half a sec chance and thats it
[10:14] {nemo} 143.72 spy is weekly S3
01[10:16] {Threei} National Daily Tracking: #Obama: 46%, #Romney: 46%
[10:17] {dolores} I think they mamaged to hold JCP yesterday to short it! hammered again
[10:18] {scottie} amx l .80 ?
01[10:19] {Threei} hard to tell
[10:20] {scottie} in .81 small stop .74
[10:20] {nemo} rht below 54
[10:21] {nemo} Hlf
[10:21] {nemo} sorry
[10:22] {goryl} Vad, doesn't SMX look like a JBE setup? why would you discard it?
01[10:24] {Threei} AMX?
[10:25] {goryl} y
01[10:25] {Threei} it does but its range is a bit too narrow
[10:25] {nemo} you're looking for a long in a down tape goryl..setup can be good, market not
01[10:25] {Threei} combine mine and nemo comment and you have this:
[10:25] {dolores} new sell off or is there support?
01[10:26] {Threei} with narrow range, stock is likely to take long time to move singficantly enough for a worthy profit,
01[10:26] {Threei} and in the market that is generallyy trending down, it simply may not have enough time, bounces are short-lived
[10:26] {dptl} hes .45 short?
[10:27] {nemo} goryl...only news or heavily shorted stocks have a chance to go up in a down tape
[10:27] {nemo} as a rule
01[10:27] {Threei} I think so HES
01[10:27] {Threei} dolores, breakdown is more likely
[10:28] {dptl} in hes
[10:28] {dptl} .55 stop
[10:28] {nemo} rht battle at .00
[10:28] {goryl} nemo, what do you mean by down tape?
[10:29] {nemo} market red and dropping
[10:29] {goryl} indices
[10:29] {goryl} ok
[10:29] {nemo} sorry
[10:30] {nemo} spy volume
[10:30] {dptl} half out
[10:34] {dptl} aaaand out
[10:34] {dptl} ty
01[10:34] {Threei} nice
[10:35] {scottie} gj dp
[10:35] {dptl} ty
[10:36] {Will49} wtg dp
[10:36] {dolores} any news or more of the same?
[10:37] {nemo} RHT a short
01[10:38] {Threei} worsening situation with Spanish bond, bad German auction, riots
[10:38] {dptl} hes may be .20 s ?
[10:39] {scottie} rht +.12 tks nemo
[10:39] {nemo} ;-)
[10:40] {nemo} likely goes to .50ish
01[10:40] {Threei} I doubt it, HES
[10:44] {scottie} amx out +.10
[10:46] {nemo} long argument here for iwm and spy
[10:48] {nemo} cat
[10:48] {dptl} ah vlo vlo...:) it's even came back but i wasnt looking
[10:49] {ese} kinda a watchin morning for me.........have to go but may catch you later
01[10:49] {Threei} take care ese
[10:51] {scottie} aig l .40 ?
01[10:51] {Threei} yes
01[10:52] {Threei} if holds .30 of course
[10:53] {scottie} in aggressive .38
[10:53] {scottie} stop .29
[10:59] {dptl} met .70 s?
[10:59] {scottie} out aig
[11:00] {dptl} in met .69
[11:01] {dptl} stopped met
[11:09] {nemo} thinking vwap run here
[11:11] {nemo} shakeout first before run?
[11:16] {scottie} aig rinse
[11:18] {nemo} spy to vwap
[11:19] {nemo} iwm .11 cents to go
[11:39] {dptl} jcp .95 l?
01[11:40] {Threei} 50/50
[11:42] {dptl} 100sh took just to play around
01[11:42] {Threei} QCOR, what a persistent disaster
[11:43] {nemo} support at 0
[11:43] {Will49} good way to stay awake dp
[11:43] {dptl} lol
[11:44] {dptl} out
[11:44] {dptl} :)
[11:45] {scottie} good call dp
[11:45] {Will49} excellent call
[11:45] {nemo} iwm at vwap
[11:45] {scottie} ok excellent :)
[11:45] {dptl} ty...ty very much
01[11:45] {Threei} That does it. Dp replaces me for the next 3 days
[11:46] {dptl} oops.....i have to deal with nemo too?
01[11:46] {Threei} yup
01[11:46] {Threei} trde insults
01[11:46] {Threei} trade
[11:46] {dptl} oh boy
[11:47] {Will49} we're behind you till your nose bleeds dp
01[11:47] {Threei} rofl
[11:47] {dptl} lol...thanx
[11:48] {Will49} lookit that JCP sucker go!
01[11:48] {Threei} - Risk assets are getting pummeled as anti-austerity protests in both Athens and Madrid turn violent and the fiscal crisis in Spain's regions goes from bad to worse. In Madrid, police are using rubber bullets and teargas against protesters and analysts fear that the conflict between the government and Catalonia could become a major problem.
[11:49] {Will49} "may" become a major problem????
01[11:49] {Threei} Behind the scenes it is assumed that PM Rajoy is preparing to request ESM help, although in public he continues to insist that Spain will not request more aid beyond the standing bank bailout "unless yields rise too high." At the same time, the Northern European eurozone states Germany, Finland and the Netherlands seemed to suggest that any aid Spain receives for its banks might remain on its public debt.
[11:50] {dolores} spain has financed already 83 % for 2012 or so they say
[11:50] {dolores} Rajoy is trying to avoid more conditions
[11:51] {dolores} and waiting for Italy to support on both asking a bailout with less conditions
[11:51] {dolores} germany already said no
[11:51] {nemo} swk
01[11:51] {Threei} which of course immediately puts Greece and Ireland right back on the defensive
[11:52] {dolores} yes
01[11:52] {Threei} "if we git thokse suffocating austerity conditions, how come they don't"
[11:52] {dolores} Rajoy is starting to annoy evryone
[11:52] {dolores} in europe!
01[11:52] {Threei} and Monti already threatening to quit
[11:52] {dptl} anr .72 l?
01[11:52] {Threei} whole thing is ridiculous
01[11:53] {Threei} if want a fight for 5 cents
[11:53] {dolores} cat SHORT 86.59?
01[11:53] {Threei} yes
[11:53] {nemo} vwap .46
[11:53] {nemo} suport at .42
01[11:53] {Threei} if stays under .70
01[11:55] {Threei} here are 5cents
[11:56] {dptl} ye but i skiped it
[11:56] {dptl} will go to .85 most likly
01[11:56] {Threei} Justin Trudeau throws his hat in
01[11:58] {Threei} I can see Harper jumping up and down
01[11:58] {Threei} CAT is valid IMO
[12:00] {dolores} Seems to be following the markets
[12:00] {dptl} mcp .50 l ?
[12:01] {nemo} cat looks bull flaggish
01[12:01] {Threei} yes MCP
[12:06] {dolores} CAT breaking up
01[12:09] {Threei} MCP nears 1:1
[12:09] {dptl} out
[12:09] {dptl} just scalp for me
[12:11] {dolores} wow dow green
01[12:11] {Threei} thia must be the most hilarious thing I've heard this election cycle
01[12:11] {Threei} http://www.inquisitr.com/342761/howard-stern-interviews-obama-supporters-video/
01[12:12] {Threei} 7 and half minutes that will destroy your faith in democracy
[12:29] {dolores} CAT short about here'
[12:29] {dolores} ?
[12:29] {dolores} keeps bouncing
01[12:33] {Threei} feels done to me
01[12:33] {Threei} Short Setup: CAT .30 break
01[12:33] {Threei} If holds .40
01[12:45] {Threei} (ES) Spain Govt said to be planning to place a hold on civil servant wages for 2013 and restriction in hiring as part of budget program to be announced tomorrow - financial press
01[12:47] {Threei} check if Q COR shortable for you
01[12:47] {Threei} Short Setup: QCOR .25 break
[12:51] {dolores} CAT rinsed
[12:57] {dolores} back up again
[12:57] {dolores} today CAT really following the market
[12:59] {dptl} mcp .70l?....although it's lunch time
01[13:00] {Threei} can't tell
[13:01] {dptl} ye kinda ify
01[13:04] {Threei} (ES) Spain PM Rajoy: Spain is determined to address its budget deficit- European project is irreversable.
01[13:05] {Threei} I'll take that bet
[13:18] {dolores} CAT in full force today
[13:19] {nemo} it was so extended on the daily that's why I figured it was a bullflag
[13:19] {dolores} what you mean by extended oversold?
[13:19] {nemo} yeah
[13:21] {dptl} len .20 l ?
[13:24] {nemo} resistance at .30
[13:24] {nemo} nope
[13:24] {dptl} half out
[13:24] {scottie} gnc l 37 ?
[13:25] {robbers} nice dp!
[13:25] {Will49} tks dp
01[13:26] {Threei} now dp... practice answering questions
01[13:26] {Threei} GNC?
[13:26] {Will49} dp 3 vad 0
[13:26] {Will49} :)
[13:26] {dptl} ty yw....lol
[13:27] {dptl} great mentor i have...could not do it with out you Vad
[13:28] {nemo} looks like we run green rest of day
[13:28] {Will49} we love you vad
01[13:28] {Threei} yeah yeah
01[13:31] {Threei} GNC works
[13:31] {nemo} isn't it funny how a couple of percentage points down on the indexes everything get's so gloomy
[13:31] {scottie} didn't take it
[13:33] {scottie} ir l .90 ?
01[13:36] {Threei} nah
[13:40] {dptl} was waching pelicans catching fish yesterday...i wish i could have one as a pet in Vancouver to bring me salmon......nice city that SanDiego...flying back home tomorrow
[13:41] {Will49} did you get to the zoo?
[13:41] {Will49} world renown
01[13:41] {Threei} really fantastic zoo
[13:42] {dptl} unfortunatly not this time , will vizit next time...school and stuff, didt have time....but ye i heard it's the place to visit
[13:44] {jackharry} visited the zoo about 16 years ago, certainly put the so-called zoo here at home to shame
[13:45] {Beau} does it still have train carry you around the grounds??
[13:45] {Will49} where's home jack?
[13:45] {jackharry} Northern Ireland
[13:46] {Will49} cool!
[13:46] {jackharry} dont know about cool, but certainly cold!
[13:46] {jackharry} and wet
[13:47] {Will49} but charming, no doubt
[13:47] {dptl} and good beer
[13:47] {jackharry} yep
[13:47] {Will49} well, any place with good beer is a good place
[13:48] {dptl} :) true
01[13:48] {Threei} bus, beau
[13:54] {dolores} CAT nice movement today
[13:55] {nemo} gild looks weak
[14:01] {goryl} Vad, will the room be open tomorrow?
01[14:01] {Threei} room will be open of cpurse
01[14:01] {Threei} I won';t be here but fear not
01[14:01] {Threei} dp will
[14:02] {nemo} raven will be babysitting
[14:02] {dptl} lol
01[14:02] {Threei} no, you will be babysitting and raven will be overseeing you
[14:02] {nemo} what a visual...a bird sitting overhead...not comfortable with that
01[14:02] {Threei} good
01[14:02] {Threei} we don't want you comfortable
[14:05] {dptl} you coming back monday?
01[14:05] {Threei} Tuesday
01[14:05] {Threei} monday is on the road
[14:05] {dptl} i see
[14:10] {dolores} i will be off thursday and friday
[14:11] {cc_8} i will be here though
[14:11] {nemo} goog ripping
[14:11] {nemo} well that gives me the warm and fuzzies
[14:11] {nemo} not
[14:12] {dptl} coh .80 s ?
01[14:12] {Threei} I think so
[14:13] {nemo} no momentum anywhere
01[14:13] {Threei} #Massachusetts: #Obama 55%, #Romney 40%
01[14:13] {Threei} jeez nemo... this is how you do when not overseen
[14:13] {nemo} Mass never votes Republican...ever
01[14:14] {Threei} good boy COH
[14:15] {nemo} think market in for a pop
01[14:15] {Threei} 1:1
[14:15] {dptl} out half
01[14:15] {Threei} btw guys, don't forget to check nemo's over weekend writeup
01[14:16] {Threei} there won't be e-mail with reminder
[14:16] {nemo} gonna' be relatively boring...have to update quarterly, monthly, and weekly levels...lotta' work
[14:17] {nemo} yeap, very stealthy break up
01[14:18] {Threei} just record yourself doing rain dance, and it will be very entertaining
01[14:18] {Threei} pinkish tutu...
[14:18] {nemo} just had this tweet come across: I find the bacon shortage stories to be boring. First of all, I don't believe them. Second of all, I don't like "weird" econ stories.
[14:19] {nemo} Vad must be buying up all the inventory
01[14:19] {Threei} yeah, I decided to corner pork belly market
[14:19] {Will49} yeah Vad, don't be piggish
[14:20] {Will49} or pinkish
[14:21] {nemo} anybody for a pru bounce play at .30ish?
[14:23] {dolores} .30?
[14:23] {nemo} .30ish
[14:23] {nemo} in that area
[14:24] {dolores} if it gets there+
[14:24] {nemo} yep
[14:24] {dolores} ok
[14:28] {dptl} stop to .75 coh
[14:29] {goryl} have a good trip Vad and don't forget to come back:)
01[14:29] {Threei} thank you
01[14:29] {Threei} I won't, I am not an east coast guy
[14:29] {dptl} out .54
[14:29] {dptl} coh
[14:29] {Will49} ho hum...another boring win for dp
[14:31] {dptl} :)
[14:32] {scottie} nice dp
[14:32] {dptl} ty
[14:51] {dolores} CAT any trade?
[14:51] {dptl} clf .40 s?
[14:51] {dolores} back to the open
[14:51] {dptl} ah late
[14:52] {nemo} short
[14:52] {nemo} cat
[14:53] {nemo} could bounce .91 and then again .82
[14:54] {dptl} gmcr .60 s?
01[14:55] {Threei} yup
[14:55] {nemo} two way imo
01[14:56] {Threei} see .59 bid?
[14:57] {dptl} ye
01[14:57] {Threei} don't be in hurry to nit it, makme sure there are enough sellers to melt it down
[14:58] {dptl} ye that what i was thinking too prepered .58
01[14:58] {Threei} will, dp
01[14:58] {Threei} local leaders debate pot decrim resolution. Many saying gov't needs to accept reality of pot use
01[14:58] {Threei} get ready
[14:58] {Will49} ready:D
[14:58] {dptl} ye..about time lol
[14:59] {Will49} flags will be flying
01[14:59] {Threei} and burning
[14:59] {Will49} lol
[14:59] {dptl} finaly dude
[15:00] {dptl} and then we gonna have vancuversdam
[15:01] {nemo} http://www.nydailynews.com/news/national/bottoms-university-tennessee-student-hospitalized-alcohol-enema-kills-article-1.1168506
[15:01] {Will49} :)
[15:01] {Will49} watch tourism exxplode
[15:01] {dptl} americans will be all over
01[15:01] {Threei} delegates vote in favour of resolution calling for decriminalization/taxation of marijuana
[15:02] {dptl} make some room in your backyard Vad :)
[15:03] {Will49} BC Bud will be a big export number
01[15:03] {Threei} no, I keep it for the time they allow red light districts
[15:03] {Will49} :O
[15:03] {dptl} roflol
01[15:04] {Threei} ok GMCR
01[15:04] {Threei} die
[15:04] {dptl} got .58
[15:06] {dptl} out half
[15:08] {dptl} out
01[15:11] {Threei} Long Setup: CAT .70 break hl
[15:13] {dolores} stop?
[15:13] {nemo} .60
[15:14] {nemo} oh
01[15:14] {Threei} yeah, standard
[15:14] {nemo} the vxx is at 9.5 unbelievable
01[15:14] {Threei} out
01[15:15] {Threei} nice and easy
[15:15] {dolores} out
[15:15] {dolores} thxs
01[15:15] {Threei} yw :)
01[15:15] {Threei} gotta keep my job, ya know... lest I find upon return, it's all dp and nemo
[15:16] {nemo} I'm drinking for the next two days
[15:17] {dptl} nice cat....and i went outside .....
[15:17] {scottie} out +.19 tks Vad
01[15:18] {Threei} yw
[15:18] {nemo} I think longs in order here
[15:19] {nemo} maybe not
[15:20] {nemo} mlnx
[15:20] {nemo} sorry
[15:27] {nemo} GS relatively strong...think tomorrow up
01[15:28] {Threei} Long Setup: CLF .10 break hl
01[15:29] {Threei} don't ask where the stop or invalidation is
01[15:32] {Threei} in on pullback
01[15:47] {Threei} nah
[15:49] {dptl} see ya tomorrow all....and Vad have a good trip.....good evening
[15:49] {dolores} ok guys thxs. vad have a great conference !
01[15:49] {Threei} OK guys, thank you all
[15:49] {dolores} see you monday guys
01[15:49] {Threei} have a great eveningm, the rest of the week and weekend
[15:49] {Will49} have a safe trip Vad
[15:49] {scottie} have a nice trip vad
01[15:49] {Threei} I will see you all next Text tuesday
[15:49] {scottie} gn all
[15:49] {dptl} see ya tue Vad
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