Nov 1 2012

Another slow but profitable day. I expect this slow rhythm to stay with us until after the election day.

 Session Time: Thu Nov 01 00:00:00 2012

[09:00] {dino} gm

01[09:00] {Threei}  dino :)

[09:00] {Les} afternoon

01[09:00] {Threei}  les :)

01[09:00] {Threei}  *(US) INITIAL JOBLESS CLAIMS: 363K V 370KE; CONTINUING CLAIMS: 3.263M V 3.250ME- 4-week avg claims: 367.25K v 368.75K w/w - Prior Initial Jobless Claims revised higher from 369K to 372K - Prior Continuing Claims revised higher from 3.254M to 3.259M

[09:01] {Les} when day presidential elections?

[09:01] {Les} what

01[09:01] {Threei}  Tue

[09:01] {Les} market open as normal?

[09:02] {nemo} yeah

[09:02] {Les} ty

[09:08] {scottie} good morning

01[09:08] {Threei}  scottie :)

[09:09] {scottie} will be away for an hour or two, have fun

[09:10] {nemo} could you take Les with you?

[09:11] {scottie} no prob,  hi les, wanna come with me ?

[09:16] {Les} no

[09:18] {Les} nothing personal scottie... auto generated response to questions from Nemo

[09:23] {Will49} Good morning

01[09:23] {Threei}  will :)

01[09:23] {Threei}  wow, out east board guys are still off

01[09:24] {Threei}  our

[09:24] {Will49} Maybe they moved their clocks bacl already

[09:25] {dino} crus, odd

[09:25] {Will49} back

[09:28] {ese} gm

01[09:28] {Threei}  ese :)

[09:28] {ese} vad

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

[09:30] {nemo} slw might go BOOM!

[09:30] {dino} crus hl l .00 wide

01[09:30] {Threei}  If holds  .05 

[09:31] {ese} figured you might be after crus dino.......was just looking at that

[09:31] {dino} :)

01[09:32] {Threei}  1:1

[09:32] {ese} was thinkng TDC also

[09:33] {nemo} may have about another buck south on crus

[09:34] {nemo} fib confluence at the bottom of the gap

01[09:34] {Threei}  1:2, out

01[09:36] {Threei} Long Setup:  SLW  .75 break

01[09:36] {Threei}  If holds  .65 

[09:36] {Les} big divergence GDX, SLW.

01[09:39] {Threei}  change to .65 break

01[09:39] {Threei}  stop under .55

01[09:40] {Threei} Long Setup:  GDX  .50 break

01[09:40] {Threei}  If holds  .40 

[09:40] {Les} BATS charts clearly out of whack if GDX is .50

[09:40] {nemo} gdx .26

01[09:41] {Threei}  ugh... wrong symbol, never mind

[09:41] {nemo} nice

01[09:41] {Threei} Long Setup:  LVS  .50 break

[09:41] {nemo} put the bottle down, Vad

01[09:41] {Threei}  If holds  .40 

[09:42] {nemo} one of your old favorites dino-veco

[09:43] {ese} out btu .50 +.04 from yesterday..........and es survives a bout of stupidity

[09:45] {ese} not sure what i did but my stop loss didn't take...didn't press the right button or something was looking at $400 dn this morning...was a little stunned to see that i still had a position from last friday

[09:46] {ese} yesterday 

[09:46] {dino} adding nov 35 calls crus

01[09:46] {Threei}  let's trail SLW to .59

01[09:48] {Threei}  and LVS to .44

[09:49] {nemo} crus at -6.66

01[09:49] {Threei}  LVS 1:1

01[09:52] {Threei}  out SLW

[09:53] {nemo} spy has to test 142

01[09:53] {Threei}  and out LVS in full .68

[09:53] {nemo} then we'll see numbers at 10

[09:55] {cc_8} Pre-open movers . US stock futures are mixed this morning, as investors are awaiting economic data. Futures for the Dow Jones Industrial Average dropped 5 points to 13,025.00 and S&P 500 index fell...

01[10:00] {Threei}  weak numbers

[10:00] {nemo} barely

[10:00] {nemo} bull market is on

01[10:00] {Threei}  ISM is decent

[10:00] {nemo} we're gonna' run

[10:00] {nemo} pay and pray day

[10:04] {ese} thats a good one nemo.........good way to look at it

[10:05] {nemo} VMW

[10:06] {Les} look at IWM vol at price 1 min

[10:07] {nemo} look at spy volume over that two minute where you had 2.5 mil...that's capitulation/euphoria volume it breaks higher, that's real strength

01[10:09] {Threei} Long Setup:  CAT  .55 break

01[10:10] {Threei}  If holds  .45 

[10:11] {robbers} thanks, Vad, LVS.

01[10:11] {Threei}  yw

[10:12] {Les} spy outside 1 min bb's as they tighten. reversal time maybe

[10:12] {Les} db spxu?

[10:12] {nemo} you could play that

[10:13] {ese} ok...i need an answer ...i tried to short FAZ at .15 and it wouldn't take it.......anyone know why

01[10:13] {Threei}  FAZ is inversed ETF

01[10:14] {Threei}  those are usually unshortable, just go long FAS instead

[10:14] {nemo} FAS is the long

[10:14] {nemo} you a blonde ese?

[10:14] {ese} lol

[10:14] {ese} ya i got that but just wondering why you cant short them

[10:15] {ese} also.........keep in mind that i tell my students tha no question is a dumb question

[10:15] {Les} no dumb questions, only dumb people...

[10:15] {Les} says Mr Garrison

[10:15] {ese} rotflol.............

[10:16] {ese} you goofs are a bunch of tough nuts to crack

[10:16] {nemo} Well that's what I tell people too...but if you believe in statistical sciences, at a minimum 50% of the people are genetic morons

[10:16] {Les} no to spxu

[10:16] {nemo} no, I think it's a grind up day

[10:17] {nemo} as a matter of fact, I think this is the start of the drive to new highs for the year

[10:17] {Will49} scalps better on a grind up day?

[10:17] {Les} yeh was thinking that with SLW long entry nemo

01[10:17] {Threei}  there is a pair, FAS/FAZ. They move in inverted fashion to each other. Go long one or another. It exhausts all possible intentions - why complicate things with borrowing shares?

[10:17] {nemo} no..buy and hold higher, always take a portion off to control risk

[10:17] {Will49} tks

[10:17] {Will49} that what you mean by pay/pray?

01[10:17] {Threei}  shorting is simple only on surface

01[10:18] {Threei}  mechanics of share lending underneath are very involved

[10:18] {nemo} yeah, you have to buy at support on days like today

[10:18] {Will49} tks nemo

[10:18] {ese} true

[10:18] {nemo} breakouts work, but action has moved so high, you get worried it can't keep going, but it does so you have to pay, and then pray it doesn't drop

[10:19] {Will49} :)

[10:20] {nemo} see, you get no good buy in spots

[10:22] {nemo} 143.25-.50 is volume resistance on spy

[10:22] {nemo} Vad LOVES these type of days....

[10:22] {nemo} ...NOT!

[10:23] {Les} gdx .25 break?

[10:23] {Les} with a bit of consolidation at vwap here?

01[10:24] {Threei}  not sure

[10:25] {nemo} WMB might be a short here

[10:25] {nemo} for you pessimists

[10:32] {ese} ladies and gents have a great rest of the day...catch ya tomorrow

01[10:32] {Threei}  take care ese

[10:32] {Will49} bye eses

[10:32] {Les} and you accuse me of being a fast quitter vad...

[10:35] {nemo} mmmhhhh, this is dangerous:

[10:35] {nemo} http://news.cnet.com/8301-13578_3-57542510-38/court-oks-warrantless-use-of-hidden-surveillance-cameras/

[10:35] {Les} LVS

[10:35] {dino} big brother

[10:35] {nemo} yeah

[10:36] {Will49} more like big daddy 

01[10:38] {Threei}  frikin CAT got away

[10:39] {Les} LVS rippin

[10:40] {nemo} here we go

[10:41] {nemo} we get through 143.50 next resistance is the 50 SMA around .70ish

01[10:44] {Threei} Short Setup: CAT  87 break

01[10:45] {Threei}  If holds  .10 

[10:45] {nemo} finiies going hi9gher

[10:45] {nemo} spy going hihger

[10:45] {nemo} ursine sodomy!!!

[10:46] {Les} so you're not in fact a hunter Nemo, but a buggerer of bears...

[10:46] {nemo} I've got cat testing .50 ish before drop

[10:46] {nemo} no...merely a reporter on that account

[10:47] {nemo} BOHICA BEARS!!!!

[10:47] {Will49} :D

[10:50] {nemo} one could make the argument for shorting the indexes here but you're not seeing the volume coming in to counteract the run, the attempt at 10 blew right trhough the levels

[10:50] {nemo} wmb very weak

01[10:54] {Threei}  National Daily Tracking: #Romney 49%, #Obama 47%

[10:56] {Les} SLW just tested 5th Oct top

[10:57] {dino} abmd hl l .10 stop .89

[11:00] {Les} LVS s 47?

[11:01] {nemo} where is support?

[11:01] {Les} immediate support .93, strong support .70

[11:02] {nemo} so, what's the Risk/Reward?

[11:02] {nemo} do you have a lower high?

01[11:02] {Threei}  I'd prefer to short into bounce

01[11:02] {Threei}  around .10 - .15

[11:02] {nemo} yep, that's my point..was trying to make Les think...might as well squeeze gold from his ass

[11:03] {Les} well stop it

01[11:07] {Threei} Short Setup: CAT  87 break

01[11:07] {Threei}  If holds  .10 

01[11:09] {Threei}  no worky

[11:09] {dino} abmd stop

[11:10] {nemo} crus .80 level

[11:14] {cc_8} will

[11:14] {cc_8} get on skype, i'll take a look at your irc now

01[11:15] {Threei}  CAT rinse

01[11:15] {Threei}  grrr

[11:15] {nemo} SPY touched the new Monthly Pivot this morning

[11:21] {nemo} iwm at vwap

[11:25] {scottie} abc l 41 ?

[11:26] {dino} pzza drop

01[11:26] {Threei}  I think so but hl

[11:26] {scottie} ok

[11:26] {dino} tumi hl l .70 

01[11:27] {Threei}  (GR) Greece court: planned pension cuts and retirement age increase sought by Troika lenders may be unconstitutional

01[11:28] {Threei}  "oh, OK then, we back off" said noone

03[11:32] * Retrieving #discussions modes...

[11:34] {cc_8} Set1

[11:34] {cc_8} Set

[11:34] {cc_8} Set1

[11:35] {scottie} went to 1:1 within a second, too fast for me

[11:35] {nemo} well, Greece is just setting up to leave the Euro...fine we won't cut anything, go back to the Dreck...ma, pay them their full pension, and they can buy a bag of potato chips with their monthly check

[11:37] {cc_8} Set1

[11:37] {cc_8} Set1

[11:37] {nemo} what are you doing?

[11:37] {Will49} cc is helping me setup my irc

01[11:38] {Threei} Long Setup:  LVS  .70 break

01[11:40] {Threei}  Invalidated  

01[11:40] {Threei}  on radar though

01[11:40] {Threei}  should be near the bottom

[11:40] {scottie} do you have a read on abc now Vad ?

01[11:41] {Threei}  more looks like short now

01[11:41] {Threei}  gah... late

[11:41] {scottie} that's what I thought tks

01[11:41] {Threei}  those two rejection tails

[11:44] {Beau} good late morning all

01[11:45] {Threei}  beau :)

[11:45] {nemo} slw

[11:48] {nemo} poor bears

01[11:52] {Threei}  nice drop ABC

[11:53] {Les} support levels played out nicely on lvs

[11:53] {scottie} would have been good, hesitated too much

01[11:53] {Threei} Long Setup:  LVS  .55

[11:57] {nemo} wow

[11:59] {nemo} vwap .74 and decending should get there

01[12:00] {Threei}  you on mirc will?

[12:00] {Will49} yes

01[12:00] {Threei}  no disconnections so far

[12:00] {Will49} not so far

[12:00] {Les} where u at Will?

01[12:00] {Threei}  round of applause for cc_8?

[12:00] {Will49} Victoria BC

[12:01] {Will49} Yea, let's hear it for the wonder kid CC

[12:01] {Will49} he's going to help me set the clock on my VCr next

[12:02] {scottie} lol

[12:03] {Les} ready for test of support SLW.

01[12:03] {Threei}  1:1 LVS

[12:03] {Will49} Vad, new version of mIRC seems to have fixed ping issue

01[12:03] {Threei}  yes

01[12:04] {Threei}  I am just surprised it didn't accept your settings from previous

[12:04] {Will49} I probably screwed it up

01[12:04] {Threei}  normally mirc upgrades always took all preexisting settings

01[12:11] {Threei} Long Setup:  ABC  .50 break

01[12:12] {Threei}  stop .44

[12:16] {scottie} lvs +.19 tks Vad

01[12:16] {Threei}  1:2

01[12:16] {Threei}  out

01[12:16] {Threei}  yw

[12:18] {nemo} dino crus

[12:18] {Will49} tks Vad 1:2

01[12:19] {Threei}  :)

[12:19] {dino} still in the calls nemo

[12:21] {Les} http://www.telegraph.co.uk/news/picturegalleries/worldnews/9648637/NYC-Unplugged-photos-of-New-York-during-the-Superstorm-Sandy-blackout.html#?frame=2385763

[12:21] {Les} couple of nice ones therer

01[12:22] {Threei}  mama... http://goo.gl/ewzHF

01[12:22] {Threei}  wtf

01[12:28] {Threei}  half out ABC

01[12:29] {Threei}  out in full

[12:55] {Les} RIG .10 b/d?

[12:55] {Les} nah

01[12:55] {Threei}  meh

[12:56] {Les} range bound. But maybe if it consolidates around this leve...

[12:56] {Les} l

[13:06] {dino} wac drop

[13:15] {Les} tna

01[13:17] {Threei} Long Setup:  IWM  .05 break

01[13:17] {Threei}  If holds  82 

[13:18] {nemo} almost think spy has to test vwap first

01[13:18] {Threei}  could be, but then we won't get trigger and will recalibrate IWM for lower entry

01[13:19] {Threei}  looks good to me

01[13:20] {Threei}  risk is small

01[13:20] {Threei}  SPY seems to be turning

01[13:21] {Threei}  nope

[13:21] {nemo} not as dumb as I look

01[13:22] {Threei}  well, I feel safe betting 5 cents on the chance that nobody could be this dumb {G}

[13:23] {dino} nemo, read on crus?

[13:23] {dino} going to s3?

[13:24] {nemo} pullback looks like here fib support at .70 price support at .50, Next level above .48 then 38.25.  S3 possible, but it has to become a follower evdentually, recommend trailing stop

[13:25] {dino} thx

[13:26] {nemo} interesting test.  most technology stocks have recovered most of their losses within a day.  If this doesn't further indication of market weakness

[13:28] {dino} having trouble w/.20

[13:28] {nemo} will likely test the whole

[13:29] {nemo} also, lunch time

[13:30] {Les} RIG drifted down to near 1:1. 46 might hold

[13:34] {nemo} this should be it

01[13:41] {Threei} Long Setup:  TNA  .20 break hl

01[13:42] {Threei}  If holds  .10 

01[13:42] {Threei}  target 1:2

[13:42] {nemo} I would target 59 if it breaks that swing high

01[13:43] {Threei}  could be, I just doubt it can get there without gut-wrenching pullbacks

01[13:43] {Threei}  and I am not in the mood to sit through those

[13:44] {Les} nothing but boredom hey vad?

01[13:44] {Threei}  well, with many particpants out of the picture and elections looming, I suspect we are to see this till Wed

[13:45] {Les} right

01[13:45] {Threei}  but we are staying on a positive side

01[13:45] {Threei}  and will has mirc now

01[13:45] {Threei}  so life is good

[13:45] {Will49} all is well in the world

[13:45] {Will49} it takes a village

01[13:45] {Threei}  well, I wouldn't go this far

01[13:46] {Threei}  some things at some spots at some point are relatively bearable

01[13:46] {Threei}  this is how I'd put it {G}

01[13:46] {Threei}  1:1

[13:47] {nemo} should go boom above .40

[13:47] {Will49} .10 scalp...tks Vad

01[13:48] {Threei}  :)

[13:48] {Will49} should I get back in nemo? :)

[13:48] {Will49} don't answer that

[13:48] {nemo} if you're out have to wait for a new setup

[13:49] {Will49} tks

[13:49] {nemo} that right there looks like a double top until it breaks that ..34 level

[13:49] {nemo} Ask vad

01[13:50] {Threei}  what am I, jeeves?

[13:50] {nemo} bad...no just for confirmation of my opinion or denial as the case may be

01[13:51] {Threei}  no, you are right

[13:51] {nemo} above .34 could be a new entry

01[13:51] {Threei}  as much as it pains me to admit

[13:51] {Les} don't encourage him vad

01[13:52] {Threei}  he seems to be a self-encouraging mechanism

[13:54] {dino} vrsn spike

[13:55] {nemo} looters down in Stone Harbor and Margate in NJ.  Those are high end neighborhoods

[13:56] {nemo} My cousin lives 5 miles inland from there

[13:59] {dino} exc drop

01[14:09] {Threei}  http://www.institutionalinvestor.com/Article/3111896/What-Happens-at-the-Fed-Under-a-Romney-Presidency.html

[14:11] {dino} exc hl l .85

01[14:14] {Threei}  frikin TNA at 1:2

[14:17] {robbers} I scalped it for .12, thanks.

01[14:18] {Threei}  :)

01[14:18] {Threei}  these days between hurricane and elections feel like mix of sleeping and pecking

01[14:19] {Threei}  wake up, peck some trade, fall asleep again

[14:19] {dino} no kidding

[14:19] {Will49} I'd still rather be the pecker than the peckee

[14:19] {robbers} Waiting for Godot.  Or Romney, whomever comes first.

01[14:20] {Threei}  lol

[14:20] {robbers} 1:3 damn scalpers.

[14:21] {nemo} probably good to .70ish

01[14:22] {Threei}  aftershocks continue at our neck of the woods, woth some reaching about 6

[14:22] {Will49} it's getting us prepared for the big one Vad

[14:22] {dino} exc stop -.24

01[14:23] {Threei}  I've no doubt that when it comes, it will still be a surprise, lol

[14:23] {Will49} yea, sometime in next 100 years or so

[14:25] {Will49} You're not much above ea level, eh Vad?

[14:25] {Will49} sea

01[14:26] {Threei}  should be enough to clear tsunami

[14:26] {Will49} maybe

01[14:27] {Threei}  I am practically at 17th hwy level whih is considered safe

[14:27] {Will49} Hope so, wouldn't want to have to find a new trading room at this point

[14:27] {Will49} :0

[14:27] {dino} lol

01[14:28] {Threei}  well, gotta survive hawaii volcano first, then worry about local quakes

[14:28] {Will49} yeah, one crisi at a time

[14:28] {Will49} crisis

01[14:29] {Threei}  http://www.nps.gov/havo/planyourvisit/lava2.htm

01[14:29] {Threei}  yesterday's update

[14:29] {Will49} C and I will be in Maui during Jan. Half way up Holeackala

01[14:30] {Threei}  cool... Maui is my second favorite

[14:30] {Will49} So if it get active while we're there, I'll have to look for the big trading room in the sky

01[14:32] {Threei}  (GR) Greece govt: Greek court decision today is an opinion, not binding**REMINDER: earlier today a Greece court said that planned pension cuts and retirement age increase sought by Troika lenders may be unconstitutional.

01[14:35] {Threei}  http://goo.gl/gFkCH

[14:38] {Will49} Doesn't history refer to Greece as the cradle of civilazation?

[14:38] {dino} y

[14:39] {Will49} now fantasy land

[14:39] {cc_8} will 

[14:39] {cc_8} check ur reports

[14:39] {cc_8} should be fixed now

[14:42] {Will49} Excellent...tks CC

[14:43] {nemo} wow went to 59

[14:44] {Les}   in the most disorderly manner.

01[14:45] {Threei}  interestingly fitting: Nemo me impune lacessit

[14:45] {nemo} heheheheh...one of my favorite saying after someone pisses me off

[14:46] {nemo} gmcr

[14:46] {nemo} nobody harms me with impunity

[14:48] {nemo} wlt

[14:54] {Will49} pot

[14:54] {Will49} oops

01[14:55] {Threei}  stop with temptations, will

[14:55] {Will49} BC flags:)

01[14:55] {Threei}  hehe

01[14:56] {Threei}  while on Maui, do you intend to drive the road to hana?

[14:56] {Will49} can you imagine our American brothers legalizing pot before we do Vad?

01[14:56] {Threei}  not really

[14:56] {nemo} no way, to much money involved in enforcement

[14:57] {Will49} Have done Hana road a couple of times..pretty but nerve-wracking drive

01[14:57] {Threei}  that it is :)

[14:57] {Will49} nemo, you could let half prisoners go free

[14:58] {Will49} what a saving

[14:58] {nemo} ffiv dino

[14:58] {nemo} yeah, but then a bunch of people would lose there jobs

[14:58] {nemo} I'm all for it

[14:58] {dino} was watching that

[14:58] {nemo} like ffiv under .40

[15:02] {nemo} should test the whole

[15:08] {nemo} oh well

01[15:09] {Threei} Short Setup: FCX  .40 break

01[15:09] {Threei}  If holds  .50 

[15:19] {Les} JPM

[15:20] {Les} outside it's 15 min bb's which have tightened up. possible reversal candidate

[15:21] {Les} FAS too. banksters might be cashed in into close.

[15:25] {dino} took hours but out tumi .94, +.24

01[15:26] {Threei}  well... +.24 is good... hours is bad... mixed bag, I don't know what to say...

[15:27] {dino} not much to say

[15:37] {Les} JPM 1:3 - 15 min 'bubble breakers' are something I'll work on developing as my own edge

01[15:39] {Threei}  cool

01[15:39] {Threei}  why did you pick 15 min?

[15:39] {Les} Keep multiple time frames

[15:39] {Les} on days like this

01[15:40] {Threei}  yes but why 15?

[15:40] {Les} I watch 15 min for signs of reversal

[15:40] {Les} too many times trying to catch reversal on grind up in lower time frames

[15:40] {Les} 15 min is key to reversal

[15:41] {Les} 15 min with bb's tightening and stock on the top side of that tightening band... short that sucker

01[15:42] {Threei}  I am sure you'll find this idea is lacking another element

01[15:42] {Threei}  breakouts are made of exactly this too

[15:42] {Les} how so?

01[15:42] {Threei}  tightening BBs tell you sharp move is coming

01[15:43] {Threei}  they don't tell you which way

[15:43] {Les} aaah i get you

[15:43] {Les} no, particular setup this

01[15:43] {Threei}  any consolidation near the high followed by breakout has the same making

[15:43] {Les} when daily grind up has left stock above R3 intraday

01[15:43] {Threei}  so how do you decide short this sucker or buy the break?

[15:44] {Les} wait I'll FB it

01[15:44] {Threei}  look at FCX fpr comparison

01[15:44] {Threei}  what was different in that one?

[15:45] {Les} yes same setup

[15:45] {Les} didn't break

01[15:45] {Threei}  but acted differently

[15:45] {Les} yes

01[15:45] {Threei}  that's what I meant when said more is needed to determine the direction

[15:45] {Les} sure. I don't blindly follow 15

[15:46] {Les} important red flag though

[15:46] {Les} drop down to 3 min time frame

[15:46] {Les} will show it in FB too

01[15:49] {Threei}  OK guys, no more trades

01[15:49] {Threei}  thank you all

01[15:49] {Threei}  another slow but profitable day

[15:49] {Will49} Tks Vad...good day

[15:49] {Les} nice day. thanks

01[15:49] {Threei}  see you tomorrow for more of the same :)

[15:51] {dino} gn all

[15:55] {nemo} definitely higher tomorrow have to test levels

Oct 31 2012

Despite slow trading, we had nicely positive day. Staying on a conservative side and being careful, skipped 4(!) trades that made us regret skipping them. Still, no complaints.

Session Time: Wed Oct 31 00:00:00 2012

[09:02] {scottie} good morning

01[09:02] {Threei}  morning scottie

01[09:03] {Threei}  quotes look funky a bit

[09:07] {Les} wondering how much HFT is offline and what that might do to spread and quotes...?

[09:07] {Les} morning

01[09:07] {Threei}  morning les

[09:07] {dino} gm

01[09:08] {Threei}  dino :)

01[09:08] {Threei}  how's your area?

01[09:09] {Threei}  it's not just HFT, a lot of reports about quotes being flaky

[09:09] {Les} nice trail photos btw

01[09:09] {Threei}  and I'd assume a lot of east board traders are out of the picture

01[09:09] {Threei}  ty

[09:10] {Les} pink fire hydrant... eye catching

[09:10] {dino} got lucky, just sold mlnx 76.53/.51. +3.87 from Thursday

01[09:10] {Threei}  nice

[09:10] {Les} nice

01[09:11] {Threei}  someone has sense of humor in that fire department

[09:13] {Beau} good morning

01[09:13] {Threei}  beau :)

[09:13] {Beau} is market still closed?

01[09:14] {Threei}  no, open, but quotes are questionable

[09:14] {dino} open

[09:14] {Beau} not getting any quotes--empty screens. not laser

01[09:15] {Threei}  I get some quotes, some nare empty

[09:16] {Beau} give me one you are getting please for test

01[09:16] {Threei}  fcx

[09:16] {Beau} thx

01[09:16] {Threei}  gld

01[09:17] {Threei}  no SPY though

[09:17] {nemo} should be weird day

01[09:17] {Threei}  no SLW

[09:17] {Les} suits you perfectly Nemo

01[09:17] {Threei}  looks like NASDAQ quotes are OK, NYSE is spotty

[09:18] {nemo} you took the setup...how gauche

[09:18] {Les} oh get yer hand off it

[09:20] {nemo} if only they were around your neck

[09:20] {Les} touché

[09:21] {nemo} got the warning on technical support for trading this morning...we're on our own

01[09:21] {Threei}  getting any quotes beau?

[09:22] {Beau} no, some quotes on a level II but no charts.

[09:22] {Beau} not sure today will be a fun day

[09:22] {dino} quotes look fine here

[09:22] {Beau} nemo can trade for me and send profits.

[09:23] {ese} morning.........hows everybody down south.......nemo...you ok

01[09:24] {Threei}  ese :)

01[09:24] {Threei}  Eurozone unemployment hits new record of 11.6% in September; Spain, Greece top list

[09:24] {nemo} yeah, just a strong breeze up here...I'd be more afraid of Les' breath

01[09:24] {Threei}  nemo, your quotes are OK?

[09:24] {ese} lol

[09:25] {nemo} yeah, 

[09:25] {Les} oh that's just rude

[09:25] {nemo} funny, I look up rude in the dictionary, and there's Les' picture

[09:25] {Les} sigh

01[09:27] {Threei}  I think let's skip the very opening, and see what's happening

[09:28] {ese} good......things are normal

01[09:28] {Threei}  meanwhile, look at this: http://photography.realitytrader.com/2012/10/todd-inlet-trail.html

[09:28] {ese} with les and nemo i mean

[09:28] {ese} all is right with the world...........i'm good now

[09:30] {nemo} usg gonna' be strong today

01[09:32] {Threei} Short Setup: FCX  .50 break hl

01[09:32] {Threei}  If holds  .55 

01[09:33] {Threei}  nope

01[09:33] {Threei}  spread is jumpy

[09:37] {nemo} this is going to be an educational day

01[09:37] {Threei}  let's observe, maybe things tighten

[09:38] {nemo} or the market takes an enema

01[09:38] {Threei}  did you see this on FCX?

01[09:38] {Threei}  sudden drop under .25 and immediate recovery to above .40

[09:39] {robbers} Saw it.

[09:39] {ese} i'm surprised the system actually works today vad

[09:39] {scottie} .13 gap

[09:39] {dino} rrc drop

01[09:42] {Threei} Long Setup:  GLD  .75 break hl

[09:42] {dino} wu seems a bit overdone, 6% lowere drops 27%

[09:43] {ese} L btu .46

[09:44] {nemo} scalp everything, won't take much volume to throw a brick through a level

01[09:44] {Threei}  guys, are you getting charts for SLW or SPY on laser?

[09:45] {scottie} yes on server #2

[09:45] {dino} wu hl l .35

01[09:45] {Threei}  Invalidated  GLD 

01[09:47] {Threei} Short Setup: LVS  .65 break hl

01[09:47] {Threei}  If holds  .75 

[09:48] {ese} hmmmmm btu kinda a higher low 1min chrt

[09:48] {nemo} iwm grinding up

01[09:48] {Threei}  1:1

[09:48] {ese} nahhh lets call it a couble bottom

[09:48] {ese} double

[09:49] {scottie} Couldn't take lvs, too fast for me

[09:49] {ese} i;m up .03.......sell sell selll

[09:49] {ese} nahhhhh

[09:50] {cc_8} "Just saw a note in my building that power will be out for at least 5 more days. Roadtrip anyone?" - twitter post from Wall Street Broker

[09:50] {ese} btu not participating here.........hmmmmm not a good sign

01[09:50] {Threei} Long Setup:  POT  .45 break

01[09:50] {Threei}  hl of course

01[09:51] {Threei}  If holds  .35 

[09:51] {ese} no thanks ...don't do the stuff

[09:52] {dino} out wu .72, +.34

01[09:53] {Threei}  wtg

[09:53] {dino} ty

01[09:54] {Threei}  LVS 1:2 in case someone got it

01[09:59] {Threei} Long Setup:  SPXU  40 break

01[09:59] {Threei}  If holds  .90 

01[09:59] {Threei}  let's make hl default today

[10:02] {dino} tumi hl l .64

[10:05] {dino} wu hl l .26

01[10:05] {Threei}  things don't move much

[10:06] {nemo} lvs looks interesting over .50

[10:06] {nemo} no volume though

01[10:11] {Threei}  SPXU 1:1

[10:14] {ese} sheesh.............go to the washroom and ya get cut off

01[10:14] {Threei}  1:2, out

[10:15] {dino} gj

01[10:15] {Threei}  ty

[10:15] {scottie} spxu +.18 tks

01[10:16] {Threei}  :)

[10:19] {dino} tumi to .00

[10:19] {dino} out +.36

[10:21] {dino} wu stuck stop to .24

[10:22] {dino} out -.02

[10:24] {dino} irg drop

01[10:27] {Threei} Short Setup: FCX  .20 break

01[10:27] {Threei}  ugh, late

01[10:27] {Threei}  maybe second chance

[10:27] {ese} good bounce ya caught there with TUMI dino......it didn't bounce much

01[10:27] {Threei}  If holds  .25 

[10:28] {dino} ty ese

[10:28] {dino} great report and raised tumi

[10:28] {ese} could still go higher probably

[10:29] {ese} i'm outta here though.....still L btu .46...........1200......stop is in.....we'll see what happens end of the day....cya tomorrow

01[10:30] {Threei}  take care ese

01[10:35] {Threei}  no go FCX

[10:41] {scottie} agnc l .90 ?

01[10:42] {Threei}  unless loses .80

[10:51] {scottie} dis s .20 ?

01[10:51] {Threei}  not sure

[10:51] {scottie} ok

01[10:59] {Threei}  can I change my answer on DIS? :)

[10:59] {scottie} Let's get backward a few minutes

[11:00] {dino} 07 red

01[11:03] {Threei}  grrr

[11:05] {dino} wu hl l .09 stop .99

01[11:07] {Threei} Short Setup: LVS  46 break

01[11:07] {Threei}  If holds  .10 

01[11:11] {Threei}  probably two-sided

01[11:15] {Threei}  (GR) Germany Fin Min: EMU fin min teleconference on Greece made good progress but no final decision has been made yet- Does not expect Trioka report before 11th or 12th of November - Sees this date as "ambitious" as there are many unanswered questions. Had asked for a decsion by the end of the month. - Reiterates that a lack of trust is the Eurozones biggest problem - Greece must meet conditions to continue its next aid tranche - Confirms that Parliament must vote on next tranche of Greek aid }- A haircut for Greece is not a possibility - Eurogroup statement: expect to make final decision on Greece at Nov 12 meetin

01[11:16] {Threei} Short Setup: FIO  .30 break

01[11:16] {Threei}  If holds  .40 

01[11:19] {Threei}  Invalidated  

01[11:26] {Threei}  (US) NYSE reports everthing is operating normally and expects a normal close at 4pm

[11:27] {nemo} well...that instills me with confidence

01[11:29] {Threei}  LVS 1:1 on a long side

[11:29] {nemo} cat

[11:34] {nemo} Well, the indexes are trading consistently

01[11:36] {Threei} Long Setup:  CAT  .60 break

01[11:36] {Threei}  If holds  .50 

[11:40] {Les} 2 sided?

[11:41] {nemo} yeah, but...were's next support, what's Risk/Reward?

[11:41] {Les} .30 i see it

01[11:41] {Threei}  I think so

[11:46] {dino} tumi hl l .69

[11:46] {dino} pulp moves

[11:47] {dino} wu stop -.10

[11:52] {dino} gpi spike

01[11:52] {Threei}  1:1

[11:53] {nemo} cat if breaks .80 should go to the whole and then perhaps to vwap

[11:54] {scottie} +.20 tks Vad

01[11:54] {Threei}  :)

01[11:54] {Threei}  out too

[11:54] {nemo} gdx going

01[11:55] {Threei}  I already swore at myself for missing it at 52.40 break

01[12:01] {Threei} Long Setup:  GLD  167 break

01[12:01] {Threei}  If holds  .94 

01[12:15] {Threei}  half out

01[12:15] {Threei}  surprizngly, it turns out fine trading day

01[12:15] {Threei}  who would have thought

[12:15] {nemo} thunk

[12:17] {Les} cool. I go live tomorrow

[12:18] {Les} not a frikin word nemo

[12:19] {Les} anyone using the fusion trading platform?

[12:20] {nemo} I heard you are THE Beta tester

[12:21] {dino} wcg hl l .20

[12:21] {Les} ok so I'm it

01[12:25] {Threei}  http://togs.im/ihdx1

01[12:25] {Threei}  incredible photos from the Sandy wake

01[12:31] {Threei} Short Setup: LVS  .05 break

[12:33] {Les} great photo of breezy point

[12:33] {Les} teleported?

01[12:33] {Threei}  got .03

01[12:34] {Threei}  stop .11

01[12:34] {Threei}  46 is last line of defense

[12:35] {nemo} spy coming into volume support

[12:43] {Les} b'day today. off for drinks. c u's tomorrow

01[12:44] {Threei}  people should stop disconnecting this fast

[12:44] {nemo} he was spawned from Hell

01[12:45] {Threei}  how are we supposed to be polite and say good bye

[12:45] {nemo} I'd rather talk about him behind his back when he's gone

01[12:45] {Threei}  not a problem for nemo who isn't supposed to be polite

[12:45] {dino} out tumi ave .00, +.31

01[12:45] {Threei}  how is tbell I wonder... NY

01[12:46] {Threei}  got relatives in Greenwich CT also, can't get them on the phone

[12:56] {dino} csgp drop

[13:08] {dino} out wcg .44, +.24

[13:08] {dino} taking a breqak

[13:08] {dino} lol break

01[13:08] {Threei}  nice work

[13:13] {nemo} spy probably making a pivot or vwap run

01[13:32] {Threei} Long Setup:  HD 

01[13:32] {Threei}  .50 break

01[13:32] {Threei}  If holds  .40 

[13:36] {Will49} Good Morning

01[13:36] {Threei}  will :)

01[13:36] {Threei}  hurricane?? :)

01[13:36] {Threei}  HD target 1:3

[13:36] {Will49} Had a procedure at Royal Jubillee this morning. Still a bit woozy so will just watch today

01[13:36] {Threei}  oh wow

01[13:37] {Threei}  everything's OK?

[13:37] {Will49} Yes, all good

01[13:37] {Threei}  :)

[13:41] {nemo} gs strong today

01[13:43] {Threei}  will, lemme entertain you meanwhile: http://photography.realitytrader.com/2012/10/todd-inlet-trail.html

[13:48] {Will49} Just outstanding Vad! Where is Todd trail?

01[13:48] {Threei}  near Butchart

[13:48] {Will49} ahhh

01[13:48] {Threei}  very easy access

01[14:03] {Threei}  1:1

[14:25] {nemo} spy goes right to vwap

01[14:26] {Threei}  ugh

01[14:27] {Threei}  was thinking of LVS .20 long, and decided to refrain...

01[14:27] {Threei}  that's third regret today

01[14:27] {Threei}  DIS, GDX, now this... I am too much on a conservative side today

[14:28] {Will49} How is today going (in general)

01[14:28] {Threei}  positive

[14:31] {dino} good

[14:31] {Will49} tks guys

01[14:33] {Threei}  both tbell and cipher are off... hope they are OK

[14:34] {dino} hio drop

[14:35] {Will49} hio silver

[14:36] {dino} lol

[14:37] {Will49} at least somebody in the room is old enough to remember

[14:38] {Will49} I think there's a remake in the works no?

[14:38] {nemo} I like the Bill Cosby skit myself

[14:39] {Will49} Yea, Jonny depp playing Tonto

[14:39] {nemo} I saw the Dark Shadows remake...quite campy

[14:40] {dino} w/johnny depp?

[14:40] {nemo} yep

[14:40] {dino} yeah, just watched that

[14:40] {nemo} played Barnabas Collins...love Eva Green

[14:40] {Will49} Depp is great even though a bit wierd

[14:41] {nemo} normal is boring

[14:41] {nemo} like Les

[14:41] {dino} odd but funny movie

[14:42] {nemo} agree

[14:42] {Will49} Depp reminds me of nemo; wierd but successful

[14:42] {dino} lol

01[14:42] {Threei}  lol

[14:43] {nemo} depends on your definition of success

[14:43] {dino} calling it a day. good one, no point in messing it up

[14:43] {Will49} In fact, from now on I'll envision depp when I think of nemo

[14:43] {nemo} better not share the link, huh Vad ;-)

[14:44] {nemo} Haven't seen Al yet, he might kill me

01[14:44] {Threei}  take care dino

01[14:44] {Threei}  what link will?

01[14:44] {Threei}  sorry, nemo

[14:45] {Will49} oohhhh LVS

01[14:45] {Threei}  yeah

[14:48] {scottie} BIDU S 107 ?

01[14:53] {Threei}  smaaal shares

01[14:53] {Threei}  this thing can be jumpy

[14:57] {scottie} forget it

01[14:57] {Threei}  yeah

01[14:57] {Threei} Long Setup:  LVS  .20 break

[15:04] {nemo} bidu stop trading?

01[15:05] {Threei}  yeah

[15:05] {nemo} but dino left

[15:05] {nemo} indexes have behaved remarkably well

[15:08] {nemo} wow NFLX

[15:08] {nemo} 40k calls before it was halted

[15:10] {nemo} any news vad?

01[15:14] {Threei}  Netflix Inc Icahn discloses 9.98% stake in the NFLX - filing- Now holds a position of 5.54M shares - Icahn says he may seek to have discussions with the company - "The Reporting Persons acquired the Shares with the belief that the Shares were undervalued due to the Issuers dominant market position and international growth prospects. The Reporting Persons believe Netflix may hold significant strategic value for a variety of significantly larger companies that are engaging in more direct competition with one another due to the evolution of the internet, mobile, and traditional industry."

01[15:14] {Threei}  out LVS

01[15:14] {Threei}  +.24

[15:15] {Will49} Me too vad TKS

01[15:15] {Threei}  :)

01[15:15] {Threei}  (GR) Principle haircuts to Greece Eurozone loans said to be off the table - financial press- Examining if Greece Should Continue to Repay Debt Restructuring Holdouts

[15:30] {scottie} bidu :(

01[15:37] {Threei}  that'd be 4th one to regret today eh?

[15:38] {scottie} could have would have should have :)

[15:53] {Will49} See you tomorrow guys

[15:54] {scottie} gn all

01[15:54] {Threei}  thank you all

01[15:54] {Threei}  have a good evening, see you tomorrow

Nemo's Findings week of 10/29

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

Apology up front, it's now hunting season so I'm resetting my routine a bit.  I was negligent on collecting news.

Week that Was:

Suffice it to say, in general, earnings and guidance have been somewhat disappointing and the market has been selling the news, even if it is good, albeit in a relative range.  

http://www.factset.com/insight/2012/10/earningsinsight_10.26.12#.UIwP38XA-bM


 
I've heard said that tops are not a bang and drop, but a process of distribution that takes time.  As I write this headline GDP came in a tad better than expected and the market is relatively blase about it.  Here are the daily moves for the basic indexes I track:

The market seems to be saying it's not too excited about what comes down the road. As you can see, the major moving averages(50, 200 SMA) have held in the Financials and IWM. Notice too on SPY the reddish bands.  Those are volume at price bands where heavy amounts of volume have been done. It will take concerted bullish energy to break above, and relatively concerted bearish energy to break below-although that scenario is building.  Notice how that level has held.  Here are longer term views:

I've highlighted the areas of significant volume or where they demarcate insignificant volume, also known as vacuums, or as the trading savant @gtotoy likes to call them "Kirbys."  Since this is taken as of Friday, you don't see how much volume has built up  in the range this week, but it is significant.  Should the price action drop below the box, notice the lack of volume down to 138.60ish.  Notice how the bottom of that gap coincides with the gap up on 8/3.  That will likely be the bounce level, if it drops that 136.80 level then 135.75.  Not to be a pessimist, notice the volume kirby that begins above 142.03.  Methinks we test that 143.40 band before we go lower.

The week that is: 

 

As you can see, we have a volume resistance band that coincides with the WR3 and MPP in the 83.75 area, so it will take a little work to get through that area.  Support is formed at the 200SMA with volume support in the 79.75 area with a volume vacuum starting in the area of WS3, 78.60

 


 The Qs also face volume resistance overhead starting in the area of the 50SMA, but it is a band approximately a dollar wide.  Of course volume support is visible in the 64.25 area.

The SPY also shows a couple of bands of overhead volume resistance with the 50SMA sandwiched in the middle.  The Weekly R3 denotes the most recent swing high.  Volume support held the SPY this week with denoted potential volume support levels below and the 200SMA-the bull market delineation.

In general, the market is looking bounce ready, of course the elections are only a little over a week away so....it could be meander.  Having said that, one more chart:

This is a chart of the dollar.  As you can see, it's traveling a band in a range.  Now the standard relationship is $ down=Market Up.  If the $ holds the range, next move is to test support.  As we see with many of the charts above we see they are near support.  So, given the inverse relationship (normally that is), If the $ begins to drop we should see a rise in the market, because if the $ is worth less, then it should take more of them to buy everything else.  Also...

Looks like Bonds want to at least test the 50 SMA.  Very tight band between there and the 200 SMA. If they break higher normal relationship is inverse to the markets also.


Having said that, I'm not sure what will happen to oil.  Frankly, I'm not sure about anything else either, but given the cloudy economic environment, the market for oil could be mixed should the market advance and the $ drop simply because future expectations of demand for energy will be tempered.

O.K. that's enough for now... 













 

 

Market Week Wrap-up

GDP Soars As Earnings Swoon


- The S&P500 fell to seven-week lows on Friday as the disappointing September quarter earnings season rolled on. There were a few standout sectors, such as the aerospace industry, and Facebook finally gained some ground on decent earnings, but by and large the tone out of corporate America was sour and hesitant. Contrast this with the advance Q3 GDP reading of +2.0%, up from the +1.5% pace seen in Q2. Some analysts quibbled that the big contributors to the better number were government spending and residential fixed expenditures, with only a slight pickup in consumer demand. In Asia, China's NDRC was said to be preparing a new round of fiscal stimulus to coincide with the leadership transition next month. In Japan, the cabinet approved a ¥750B stimulus spending package from central and regional governments. The FOMC met and issued a policy statement that was largely a repeat of last month's statement, pledging 'QE-infinity' and "exceptionally low levels at least through mid-2015," albeit with an acknowledgement of inflation picking up and household spending "advancing a bit more quickly." For the week the DJIA fell 1.8%, the S&P500 was down 1.5%, and the tech-heavy Nasdaq lost 0.6% as major tech names reported weak earnings.

- Tech industry darlings Apple, Amazon and Google offered perplexing quarterly results: headline numbers from Google and Apple missed expectations, while Amazon reported its first quarterly loss in years. Apple and Amazon offered very cautious guidance. Apple's weaker margins were a big focus, although the firm said they were mostly due to the large number of product launches and refreshes over recent months. Apple's iPhone shipments met expectations, although iPad shipments were a bit soft. Google saw a big decline in the key "cost per click" metric, indicating falling prices for its advertising. On the flip side, tech industry whipping boy Facebook saw its best single-session advance in its brief history as a publicly traded company post earnings, thanks mostly to the 61% y/y growth seen in the firm's mobile users. There was also enthusiasm for new momentum in the firm's mobile advertising business.

- Microsoft officially launched its new Surface Windows 8 tablet. The new system is a radical rethink of the way that users interact with computers, and there has been both praise and criticism for the approach from tech industry journalists. With the launch, Microsoft is diving head first into the hardware manufacturing segment. Much of Microsoft's thunder was stolen by Apple's new iPad mini product, which was also launched this week, along with an iPad refresh and a new 13" MacBook Pro. Analysts seemed to believe the pricing of the new iPad mini was a bit steep (the device starts at $329, compared to base prices for similar Google and Amazon products around $200).

- AT&T's headline numbers met expectations, however investors were concerned by what they saw in the firm's operating metrics. Net adds were down sharply on a y/y basis and margins were lower. iPhone activations were up, although the well-known supply constraints affecting the iPhone 5 held back the impact of the device's launch; recall iPhone 5 was only available for the last 10 days of the quarter. Sprint's quarterly loss was half the expected amount, although they firm's wireless net adds contracted on y/y basis.



- Caterpillar cut its FY12 forecast for the second time this year in its Q3 report and offered a downbeat look at its initial view of FY13 revenue. Executives warned that lower production and temporary shutdowns would continue until demand rebounded. With regard to 2013, Caterpillar is not expecting rapid growth or a global recession but is taking a pragmatic view. The company said the US business is picking up and China is on the edge of a recovery.

- Aerospace and defense names did very well in Q3, despite the looming battle over the fiscal cliff and budget "sequester." Boeing, Lockheed, Northrop Grumman and United Technologies all had excellent quarters, and all except UTX hiked FY12 guidance. Boeing executives were very upbeat, saying that the strong jet order environment to continue through the year. General Dynamics was the exception, missing targets as profits fell nearly 10% y/y. Generally the firms were cautiously optimistic about a resolution to the fiscal cliff in Washington, though they noted contingency plans were in place. Lockheed noted that its preliminary outlook for 2013 is premised on the assumption that sequestration does not occur, while GD warned that budget uncertainty was affecting government orders in shorter-cycle operations in the September quarter.

- Chemicals and materials names Dupont, Dow and 3M had terrible quarters. DuPont and 3M cut FY12 guidance forecasts. Sales volumes in all of DuPont's major markets fell, and the firm said it would cut around 2% of its workforce as a consequence. Dow announced a 5% workforce reduction to control costs in the midst of persistently slow macroeconomic growth. 3M stated that there were no indications that Q4 would be dramatically different from Q3, with business conditions expected to remain challenging for rest of the year. All three firms faced pricing issues: Dow's profits fell nearly 40% y/y as prices declined 9% y/y, although the company said some units saw double-digit declines.

- Analysts assume that the chances Canada would approve Cnooc's bid to acquire Nexen diminished after the Canadian government rejected the Petronas-Progress Energy deal on a preliminary basis. The government warned that the deal would not provide the "net benefit" for the country required by Canada's foreign investment laws. Analysts warned that the decision bodes ill for Cnooc, while others pointed out that while both Cnooc and Petronas are state-owned, Cnooc at least is more transparent as it is publically traded, and Canada has a foreign investment pact with China.

- EUR/USD remains well within the range seen since mid September, and this week trended from 1.3090 to as low as 1.2880. Spain has not yet requested a sovereign aid package, and there were plenty of concerning headlines out of the country, including a shocking record-high unemployment rate of 25% for the third quarter. Moody's may not have downgraded the Spain's sovereign rating, but they did downgrade the ratings on five of Spain's autonomous regions as they began getting approvals for aid disbursements from the regions bailout fund. Meanwhile the Bank of Spain confirmed what most people already knew, that the 2012 deficit-to-GDP ratio would be as high as 7.2-7.4% versus the 6.3% target. Meanwhile Greece took its negotiations with the Troika down to the wire. Troika officials have given Greece until Sunday night to meet their demands and come up with a plan to secure funding; German Finance Minister Schaeuble commented that there were some doubts that Greece had lived up to its commitments and warned that the nation's future in the eurozone was not a sure thing.

- The major focus in FX trading this week was the ever-weakening yen. The USD/JPY pair continued its two-week long ascent coming into the week, testing three-month highs around 80 handle on Monday following the weaker export component in the Japanese September trade balance. Expectations have been building for the BOJ to launch more easing measures and the Japanese government to announce a new stimulus package, helping to drive yen softness. Verbal intervention was heard from BoJ Gov Shirakawa and Econ Min Maehara. USD/JPY topped out around 80.36 and then turned around on Thursday, after the Japanese cabinet approved a ¥750B stimulus package. By late on Friday, the pair was back below the 80 handle.



 TradeTheNews

Oct 26 2012

Not big but decent day to end the week. Missed FB short today but got spectacular NFLX long. All in aall, good week.

Session Time: Fri Oct 26 00:00:00 2012
[09:03] {dino} gm
01[09:03] {Threei}  morning dino
[09:04] {scottie} good morning
01[09:05] {Threei}  scottie :)
[09:12] {robbers} gm
01[09:12] {Threei}  robbers :)
[09:17] {ese} good morning.......i'm back for another drubbing
[09:17] {Beau} good morning
01[09:18] {Threei}  ese, beau :)
[09:18] {ese} and i'm L btu at .07 at 5am
01[09:18] {Threei}  if you insist, ese... always ready to oblige:
01[09:18] {Threei}  [14:36] {Threei} Bloomberg � 10-25-12
01[09:18] {Threei}  [14:36] {Threei} Ford Motor Co. (F) and Dow Chemical Co. (DOW) joined a growing number of companies firing thousands of workers as sluggish U.S. growth and Europe's deepening recession lead to a persisting slump in sales.
01[09:18] {Threei}  [14:36] {Threei} North American companies have announced plans to eliminate 62,600 positions at home and abroad since Sept. 1, the biggest two-month drop since the start of 2010, according to data compiled by Bloomberg. Firings total 158,100 so far this year, more than the 129,000 job cuts in the same period in 2011.
01[09:18] {Threei}  [14:36] {Will49} white house will love that news NOT
01[09:18] {Threei}  [14:37] {Threei} "Companies are saying, �Let's not build up inventories, let's be lean and mean until we know until we have a better idea of what 2013 is going to look like,'" said Janna Sampson, who helps manage more than $3 billion for Oakbrook Investments in Lisle, Illinois. "There is a fear now as companies see that the economic recovery is not picking up."
01[09:19] {Threei}  {GGG}
[09:19] {ese} rotflol
01[09:19] {Threei}  :)
[09:19] {Will49} Good Morning
[09:19] {ese} will
01[09:20] {Threei}  will :)
[09:21] {ese} ese walks around house with head between knees..........
[09:21] {nemo} really...I thought it was usually somewhere else
[09:22] {nemo} ?
[09:22] {ese} ouch
[09:22] {ese} damn did i ever leave myself open on that one
[09:22] {nemo} Yeah, don't stick your chin out like that...can't help myself
[09:23] {nemo} LVS very interesting spot
01[09:24] {Threei}  let me offer you nice visual before trading starts:
01[09:25] {Threei}  http://photography.realitytrader.com/2012/10/fall-in-beacon-hill-park.html
[09:25] {nemo} I like the Monet effect
[09:26] {cipher} gm
[09:26] {ese} Beacon Hill park Vad
01[09:26] {Threei}  yup
01[09:26] {Threei}  cipher :)
[09:26] {Will49} great eye there Vad
01[09:26] {Threei}  ty
[09:26] {ese} will you live close to beacon hill don't you
[09:27] {Will49} Yes 1/2 mile or so
[09:27] {ese} ahhhhh hmmmmmm  i guess not that close
[09:27] {Will49} had to translate distance for our American brothers
[09:27] {ese} for some reason i thought you were over there
[09:28] {ese} cook street area
[09:28] {Will49} Cook st borders park
[09:29] {ese} ya pretty much ......south end
[09:29] {Will49} I live at Clover Point
[09:29] {ese} ahhhh ya that is close
[09:30] {ese} don't forget to pop in here for coffee if your ever in this area
[09:30] {Will49} tks i will
01[09:31] {Threei} Short Setup: FCX  .30 break hl
01[09:31] {Threei}  If holds  .40
01[09:32] {Threei}  1:1 but not much chance for entry
01[09:32] {Threei} Short Setup: CCL  .62
01[09:33] {Threei}  If holds  .70
01[09:35] {Threei}  trail to .66
01[09:35] {Threei}  half out
[09:35] {Les} morning
01[09:36] {Threei}  stop .62
01[09:36] {Threei}  les :)
[09:36] {Les} setup was?
01[09:36] {Threei}  .62 break
[09:37] {Les} ticker?
01[09:37] {Threei}  ccl
[09:38] {Will49} .10 scalps on both TKS Vad
01[09:38] {Threei}  :)
[09:38] {scottie} +.08 and +.06 ty
01[09:38] {Threei}  yw
[09:39] {robbers} .10 here, too, thanks.
01[09:39] {Threei}  gj guys
[09:39] {Will49} noobies rock
[09:39] {Will49} :)
[09:39] {nemo} looking like grind up day
01[09:40] {Threei} Long Setup:  LVS  .50 break hl
01[09:40] {Threei}  If holds  .40
[09:40] {scottie} too fast
01[09:40] {Threei}  1:1
[09:40] {nemo} that one could be a long ride, try to hold a piece
[09:41] {dino} mcrs hl l .60
[09:41] {ese} out btu .93 +.86
[09:41] {dino} gj
01[09:41] {Threei}  nice
[09:41] {Will49} wtg ese
[09:41] {ese} tks...........don't seem to have alot of time these days......have to make due
01[09:42] {Threei} Short Setup: RCL  .90 break hl
01[09:42] {Threei}  If holds  34
[09:42] {scottie} not in short list
01[09:42] {Threei}  yeah
01[09:43] {Threei}  National Daily Tracking: #Romney: 50%, #Obama: 47%
01[09:46] {Threei} Short Setup: MCD  .10 break
01[09:46] {Threei}  whoa
01[09:46] {Threei}  tekeported
01[09:46] {Threei}  RCL 1:1 who had it for short
[09:46] {Beau} lvs l down here ?
[09:47] {dino} out mcrs .31, +.71
01[09:47] {Threei}  feels like from under .20
01[09:47] {Threei}  wtg dino
[09:47] {scottie} gj dino
[09:47] {dino} ty
01[09:47] {Threei}  MCD is back for pickup
01[09:48] {Threei}  half lkot
01[09:48] {Threei}  stop above .20
[09:49] {robbers} I scalped RCL, thanks again
01[09:49] {Threei}  :)
01[09:49] {Threei} Short Setup: LVS  .20 break
01[09:49] {Threei}  If holds  .30
01[09:50] {Threei}  1:1
[09:51] {robbers} Scalped LVS, channeling my inner Vad.
01[09:51] {Threei}  lol
01[09:51] {Threei}  MCD 1:1
01[09:51] {Threei}  scalping friday
[09:52] {dino} clgx hl l .50 stop lod break
[09:53] {nemo} oy, might want that July gap, not sure I consider that Aug hammer as a fill
[09:53] {dino} clf wants that 35 area gap
[09:54] {Les} sweet dive lvs thx
01[09:54] {Threei}  wow, LVS had more in it
01[09:54] {Threei}  *(US) OCT FINAL UNIVERSITY OF MICHIGAN CONFIDENCE: 82.6 V 83.0E
01[09:54] {Threei}  yw
01[09:55] {Threei}  this is what, 5:5? can I go home?
01[09:55] {Threei}  I have more of fall to photograph :)
[09:55] {Les} 1.5/5 for me
[09:55] {cipher} s mcrs .99
[09:56] {cipher} cov .51 +.48
[09:56] {Les} was busy preparing for snow this weekend
01[09:56] {Threei}  yikes
[09:56] {Will49} what is snow?
01[09:56] {Threei}  consolation, Les: http://photography.realitytrader.com/2012/10/fall-in-beacon-hill-park.html
[09:56] {Les} think Nemo's gonna get some too this weekend
[09:56] {dino} mcrs hl l .50 stop .23
[09:57] {nemo} no, it'll be Tuesday, and won't likely be snow
01[09:57] {Threei}  the rest is true
[09:57] {dino} 4 to 8 inches of rain
[09:58] {Les} quarter mcd .91
[09:58] {Les} stop to .00
[09:58] {robbers} Vad, one of my two minors in college was photography, then worked with a commercial photographer for a year.  Those park shots are really good work.  Nice.
01[09:59] {Threei}  thank you, value endorsement from a pro
[09:59] {Les} nice colours. went down to local park this morning for some photos. Dull by comparison to what you are photographing
[10:00] {nemo} yeah, well don't forget, you're processing the images through your brain...
[10:00] {Les} hehehe
01[10:00] {Threei}  lol
[10:00] {Les} numbers here?
01[10:00] {Threei}  nemo is in good shape today
01[10:00] {Threei}  well, since you asked: *(MX) MEXICO CENTRAL BANK LEAVES OVERNIGHT RATE UNCHANGED AT 4.50%; AS EXPECTED
01[10:02] {Threei}  this one for ese:
01[10:02] {Threei}  Friday, October 26, 2012 10:01:04 (US) Atlanta Fed Survey:Businesses expect inflation at 1.8% in 2012 vs 1.7% expectation in September- Businesses saw a deteriorationin sales and profit levels in October
[10:02] {ese} how can a guy that channels rabits be in good shape
01[10:02] {Threei}  good question
01[10:03] {Threei}  but he obviously manages somehow
01[10:03] {Threei}  Canadian embassy in Washington, DC evacuated as police investigate suspicious substance found in letter
[10:03] {nemo} define shape please...
[10:03] {ese} ya it's called dog "S..."
[10:03] {nemo} I'm not sure I see the continuity of the syllogism
[10:04] {Les} Perhaps insomnia is a divine curse for Nemo's 'gift'...
01[10:04] {Threei}  MCD 1:2
01[10:05] {Threei}  friking LVS 1:4, and I took a scalp
01[10:06] {Threei}  looked to me like dive to 1:1 and quick reversal, so I contemplated switch to long after a few min of consolidation
[10:07] {cipher} MCRS L .30
[10:07] {Les} fog over the pond is definitely one to sell. I thought you'd passed it through an oil painting filter...
[10:08] {cipher}  MCRS .79 +.49
[10:08] {cipher} too soon
[10:08] {dino} out mcrs .88, +.38
[10:09] {robbers} Took the LVS scalp on the volume dive....but am never sad to make money.
[10:09] {cipher} oops
[10:09] {cipher} still have leftover
[10:09] {cipher} out rest .94
01[10:10] {Threei}  I don't use one-click filters, les... it's a low form of post-processing for lazy ones
[10:10] {ese} classic dino
[10:10] {dino} that thing drops fast
01[10:10] {Threei}  wtg cipher
[10:10] {dino} hl l .50 mcrs
[10:11] {ese} good earnings and market makers tank the stock.......perfect
01[10:11] {Threei}  Former Italian Prime Minister Silvio Berlusconi sentenced to 4 years in jail in tax fraud trial
[10:11] {Will49} bunga bunga
[10:11] {ese} wow
[10:12] {scottie} tjx l 41 ?
[10:12] {ese} ........but he plea barganed hookers though didn't he.............so he'll be fine
01[10:12] {Threei}  hl scottie
[10:12] {cipher} s mcrs .50
[10:13] {nemo} dino long, cipher short
01[10:13] {Threei}  they hedge each other
[10:14] {robbers} battle of the titans.
[10:14] {ese} L btu .39
[10:15] {cipher} cov mcrs .44 not gonna fight it
[10:15] {cipher} +.06
[10:15] {nemo} Wow, seriously brown proboscis today there robbers
[10:15] {robbers} you notice, though, nothing for you, LOL.
01[10:16] {Threei}  hehe
[10:16] {nemo} Lack of taste
[10:16] {nemo} The subtlety and art by which I lacerate my prey is lost on you
[10:16] {cipher} sure mcrs going my way after I get out :(
[10:17] {robbers} actually, I liked the use of "proboscis".
[10:17] {robbers} oooops, more brown.
[10:17] {dino} mcrs stop -.26
[10:17] {cipher} what the hell is that, do I need to look it up in the dictionary?
[10:18] {robbers} Nose.
[10:18] {Les} bees tongue cipher
[10:18] {nemo} no, you can just type it in google
[10:18] {nemo} sheesh
[10:18] {nemo} Who actually picks up a book these days
[10:18] {Les} me
[10:18] {cipher} not me
[10:18] {cipher} google is king
[10:18] {nemo} Yeah, but you're using it as a doorstop Les
[10:19] {Les} :P
[10:19] {nemo} EXPE folks
[10:19] {dino} seems the worst thing a company can do is beat and raise, ex: clgx, mcrs
[10:19] {cipher} l expe .97
[10:19] {dino} mlnx too
[10:20] {nemo} this should be it
01[10:20] {Threei}  cipher: http://lmgtfy.com/?q=proboscis
[10:20] {nemo} that should be the shake and rebid
[10:21] {nemo} wow, that's a seller
[10:23] {cipher} out expe.90 -.07
01[10:23] {Threei} Short Setup: FCX  39 break
01[10:23] {Threei}  If holds  .10
[10:28] {Les} .20 EXPE target for drop here
[10:29] {ese} lets go btu.......got kind of a hl double bottom 1min here.....theorectically should work out
[10:30] {ese} and.....it's bucking the mrkt trend
[10:30] {dino} mcrs hl l .06
[10:30] {cipher} mcrs l .08
[10:30] {dino} lol
[10:31] {ese} smells like cool clear clean crisp dollar bills to me
[10:31] {Les} nice find nemo
01[10:31] {Threei}  scary words from president: we've come too far to turn back now
[10:31] {Les} "...so vote for me..."
01[10:32] {Threei}  meaning, if you are going down wrong path, keep going simply because you've gone too far?
[10:32] {cipher} out mcrs .95
[10:32] {ese} thats a market saying.........." an object when in motion........"
01[10:33] {Threei}  Swing State Tracking: #Romney 50%, #Obama 46%
[10:33] {nemo} MCRS looks short here
[10:34] {Les} http://tinyurl.com/9mjdmp7
[10:34] {nemo} http://www.huffingtonpost.com/2012/10/26/bladimir-barreto-jump-over-moving-car_n_2022398.html?utm_hp_ref=weird-news
01[10:34] {Threei}  if SPY loses 141, short everything in sight
[10:34] {ese} market killer for a cartoon goof.............good luck down there you guys
[10:34] {ese} cya all tomorrow
[10:34] {cipher} s mcrs .99
[10:35] {Will49} take it easy E
01[10:35] {Threei}  take care ese
[10:36] {cipher} cov mcrs .86 +.13
01[10:39] {Threei}  SPY held support
01[10:40] {Threei}  let's scratch FCX
01[10:40] {Threei}  out .03
[10:45] {cipher} aapl s.00
[10:46] {scottie} nxy l .30 ?
[10:46] {Les} blood coming?
01[10:47] {Threei}  not sure scottie
[10:47] {cipher} cov 1/2 aapl .70 +1.30
[10:48] {cipher} appl target 604
[10:48] {Les} nice catch at support C
[10:53] {cipher} cov rest AAPL 604.10
[10:53] {cipher} l aapl 604.10
01[10:53] {Threei}  les, here is good analysis about popular vs electoral college vote sotiation: http://t.co/dIIFdsyN
[10:53] {cipher} out 1/2 appl .98 +.88
[10:55] {cipher} out rest .48 +1.38
[10:55] {Will49} an apple a day
[10:55] {cipher} yep
[10:55] {cipher} very predictable stock
[10:56] {cipher} once you get to know him
[10:56] {cipher} :)
01[10:56] {Threei} Short Setup: FB  .15 break
01[10:56] {Threei}  If holds  .25
01[10:57] {Threei}  aggressive entry for .05 break
[10:59] {cipher} mcrs l.69
[11:02] {nemo} financials at the 50 day moving average
[11:03] {cipher} out mcrs .84 +.15
[11:04] {cipher} appl l .36
[11:06] {cipher} scaling out .36 +1
01[11:06] {Threei}  hard to count how many doctors cipher kept away today
[11:07] {cipher} out rest .00+1.64
01[11:09] {Threei}  no go FB
[11:11] {cipher} L AAPL .32
[11:11] {thomcbell} long small low
[11:11] {thomcbell} 31.45
[11:12] {thomcbell} using 31.40 as stop
[11:12] {thomcbell} target is 31.70 - may take all day
[11:14] {cipher} out aapl .57 +.25
[11:16] {thomcbell} now it can be 31.48 break if holding 31.40
[11:20] {thomcbell} low invalidated
[11:20] {thomcbell} will contrinue to watch it
[11:21] {scottie} That's it for me, have a nice weekend, see you all monday
[11:21] {Les} ciao scottie
[11:21] {scottie} Les
[11:21] {Will49} Good Luck scottie
[11:22] {scottie} Will
[11:22] {nemo} expe again
01[11:22] {Threei}  take care scottie
[11:24] {Les} Bin Laden film coming out just in time for elections...
[11:25] {cipher} AAPL db
[11:25] {Les} http://tinyurl.com/8tshhlt
01[11:25] {Threei}  and is being edited to emphasize president's role
[11:25] {Les} oh stop that conspiracy talk
01[11:26] {Threei}  ?
01[11:26] {Threei}  documented fact
[11:26] {Les} :) joke vad
01[11:28] {Threei}  http://goo.gl/Rccvj
[11:28] {cipher} out appl +1.70 -ish
[11:29] {Les} yeh saw it
[11:29] {Will49} must be a bushel by now
01[11:29] {Threei}  lopl
[11:29] {Les} :)
[11:31] {cipher} ok I'm outta here... have a good weekend all
[11:32] {Will49} run you gunslinger:)
01[11:32] {Threei}  take care cipher, well deserved rest
01[11:32] {Threei}  wtf with FB
[11:32] {Les} ciao cipher
01[11:32] {Threei}  ah, upgrade
[11:32] {Les} nicely timed upgrade
01[11:37] {Threei} Short Setup: GM  .30 break
01[11:37] {Threei}  If holds  .40
[11:38] {nemo} it's at the 50 day, and the 200 day is at the whole
[11:50] {thomcbell} no problems over at qcom
[11:52] {Les} tna .80 long vad?
[11:53] {nemo} I'm not seeing capitualtion volume in the spy
[11:53] {Les} yeh
01[11:53] {Threei}  not delighted by that long
[11:53] {nemo} so I don't think tna a good idea here also FAS not showing strength
[11:54] {Les} higher low SPY, but no support there. So I'll be quiet
01[11:55] {Threei}  ugh... FB .80 short got away
[12:06] {nemo} oh oh
[12:06] {Les} AAPL falling off the tree
01[12:10] {Threei}  covering half GM
01[12:11] {Threei}  stop to .31
[12:17] {Beau} vad, what are your Bollinger Bands stand dev/lmt, period?  I lost them in a computer problem.
[12:17] {nemo} 13 1.7 on 1 min
[12:17] {Beau} thanks
01[12:19] {Threei}  right
[12:22] {nemo} o.k tna here wortht the risk
[12:22] {dino} lulu hl l .86
[12:23] {nemo} this .40-60 area hugely important to spy
[12:25] {nemo} aapl area huge importance
[12:27] {dino} fio hl l .25
[12:29] {dino} fio stop is .97
[12:30] {dino} stop
[12:41] {dino} mlnx hl l ave .26
[12:42] {Les} thanks dude. 1st break was a partial. 2nd a scalp both exits .40 calling it a day
[12:42] {thomcbell} fcx looks terribl;e
01[12:42] {Threei} Short Setup: FCX  .80 break
[12:42] {nemo} everything looks terrible
[12:43] {nemo} on that note...anybody seen a picture of Les...oy
[12:43] {Les} bite me bunny boy
[12:43] {Les} bon weekend
[12:43] {nemo} wombat poker
01[12:51] {Threei}  SPY loses .50, it's all over
[12:59] {dino} out mlnx .68, +.42
01[12:59] {Threei}  chose to bounce instead
01[12:59] {Threei}  as nice as morning was, afternoon is listless
[13:10] {cc_8} Teva Pharmaceutical Industries Ltd. (NYSE: TEVA) announced today that the U.S. . Food and Drug Administration (FDA) approved SYNRIBO
[13:10] {cc_8} U.S. equity futures fell in early Friday trading as large companies including Apple (NASDAQ: AAPL) and Amazon (NASDAQ: AMZN) reported earnings Thursday that missed analyst estimates.
[13:10] {cc_8} Spain's Caixabank SA reported a 42% drop in its third-quarter net profit.
[13:11] {dino} lol cc, amzn up 8+, so much for talking heads
[13:14] {thomcbell} nobody mentions margin over at amzn but 400 basis points at aapl - lord no
01[13:19] {Threei}  well, the way they operate is very simple:
01[13:19] {Threei}  1. look at the earning, miss or beat?
01[13:19] {Threei}  2. look at the price, up or down?
01[13:20] {Threei}  3. If there is an agreement between the two, use word "because"
01[13:20] {Threei}  4. If there is a divergence, use word "despite"
01[13:20] {Threei}  as in : ABCD is up because of good earnings OR ABCD is down despite good earning
01[13:20] {Threei}  see? easy
01[13:22] {Threei}  #Florida: #Romney 50%, #Obama 48%
01[13:24] {Threei}  die already FCX
[13:38] {dino} out lulu .36, +.50
[13:41] {dino} too hours but out mcrs .72, +.72
[13:41] {dino} opps, +.66
[13:52] {thomcbell} FB what a fade that was
01[13:53] {Threei}  yeah
01[13:54] {Threei}  .80 was quite clear short p[oint, just happened way too fast
[14:06] {dino} wondering if fb fills that gap below before it gets moving up
[14:43] {nemo} sheesh nflx
[14:51] {nemo} anybody want to play nflx bounce, probably here
01[14:51] {Threei}  scary thought
[14:53] {nemo} see
[14:53] {nemo} ;-)
[14:58] {dino} hmsy blood
01[14:59] {Threei}  (CA) Moody's puts six Canada banks on review for downgrade
01[14:59] {Threei}  wow
01[15:00] {Threei}  that's a first time that crisis touched Canada
[15:04] {Will49} Not a hint of this story (yet) in Canadian financial media (that I read anyway)
01[15:04] {Threei}  very fresh
[15:04] {Will49} Financial Post specifically
01[15:04] {Threei}  unless you have real time news, you won't get it this fast
[15:05] {Will49} hmmm
01[15:05] {Threei}  (CA) Moody's puts Canada banks on review for downgrade; economic challenges are not reflected fully in present ratings
01[15:05] {Threei}  - Moody's reviewing ratings of Toronto-Dominion (Aaa), CIBC (Aa2), Bank of Nova Scotia (Aa1), Bank of Montreal (Aa2), Royal Bank of Canada (Aa3), and National Bank of Canada (Aa2).
01[15:05] {Threei}  - Expects any ratings cuts will not be more than one notch.
01[15:06] {Threei}  Facebook is down
[15:07] {Will49} tks Vad, wasn't doubting you...just surprised this hasn't hit yet
01[15:07] {Threei}  actual thing I mean, not a stock
[15:10] {nemo} rally next week
01[15:14] {Threei} Long Setup:  NFLX  68 break sma
01[15:15] {Threei}  stop under .90
01[15:15] {Threei}  1:2
[15:16] {nemo} broke too fast
[15:16] {robbers} same here.
01[15:16] {Threei}  1:3
01[15:16] {Threei}  filled at .03 on pullback
01[15:16] {Threei}  1:4
[15:16] {nemo} this is good to 69
01[15:16] {Threei}  1:6, I've had enough
[15:16] {nemo} nope 69
[15:17] {nemo} then it'll turn around
[15:17] {nemo} see
[15:17] {nemo} 69 does that...turns around  ;-)
[15:17] {Will49} lol
01[15:17] {Threei}  ummm
01[15:17] {Threei}  lol
[15:17] {nemo} look at daily
[15:18] {nemo} what's so funny?
[15:18] {Will49} not touching that
[15:18] {nemo} this goes to the 80's next week more than likely
[15:19] {nemo} It at least tests that Oct. High
[15:20] {Will49} I can't watch that anywmore
[15:21] {nemo} wow exactly to resistance and a fib ext/retrace level...confluence
[15:25] {Will49} Cdn bank news just hit Finan Post
[15:25] {Will49} IMF chief hails Canada as economic model for the world
[15:26] {Will49} there, now I feel better
[15:26] {Will49} think I'll stay
01[15:26] {Threei}  I am 30 min faster than Fin post
[15:26] {Will49} I guess so
01[15:31] {Threei} Short Setup: CINF  .65 break
01[15:31] {Threei}  If holds  .70
[15:44] {Will49} suspense
01[15:51] {Threei}  let's trail to .66
01[15:53] {Threei}  shrug
01[15:54] {Threei}  saved by the bell?
01[15:56] {Threei}  ok, out .61
01[15:57] {Threei}  thank you all, have a great weekend
01[15:57] {Threei}  see you Monday
[15:57] {Will49} Have good weekend everyone