Nemo's Findings week of 11/11/2012

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





There's an old joke about a parrot with a scatalogical vocabulary, the punch line from which is:

WHAT A SONOFABITCHIN' RIDE THAT WAS! 

 

And in that spirit, the fecal matter hit the ventilator this week...

The election honeymoon didn't last long.  Europe came in  with bad economic news a few hours after Obama's re-election.  Greece is teetering on the edge of anarchisis. Even a good jobs number on Thursday couldn't overcome the economic icebergs showing up ahead.  Along with the economic uncertainty, Obama's second term cinches capital gains and dividend tax increases.  So, it is likely the selling continues so people can lock in gains at lower tax rates and clear the hurdle of the wash sale in the event they want to re-enter positions after the new tax year.   

Then, because of the uncertainty around the new tax rates as well as the 3.8% Obamacare capital gains tax in the offing, and the potential fiscal cliff, assets will have to be repriced around the future expected returns, and economic, environmental uncertainties such as these make that more difficult. 

Then there's that whole Mayan thing...


The week that was:

As one can see on Thursday SPY lost the all important (depending on to whom you speak, of course) 200 day simple moving average.  Which it quickly regained on Friday and refused to relinquish-BARELY!.  The IWM  and Qs lost theirs on Tuesday and have not regained it. The financials have a ways to go to get there.  The loss of the 200 is considered the bull/bear demarcation line.  Had we lost it yesterday and held below today, Monday would have been, and still may be, um....er....interesting in a Black Monday sorta way.  As it is one could argue the closing tape was putting lipstick on a pig.  You have to look closely but the SPY bottom coincided with a fib retracement level within the volume/price level I was tracking.

Here are some of the volume gaps I'm tracking:

 

As you can see from the charts where significant volume was done at what prices, and where there is a volume vacuum, that is where little volume was done. Look at the XLF between here and 15.15, not much to hold it up, below that area, volume is sparse until 14.70.  Notice how SPY was corralled by a volume level.  Notice how IWM bottomed just above a serious vacuum.  Anyway, I don't see any definitive signs of bottoms anywhere across these indexes.  Doesn't mean we're not close.

 

Oh, and for those in the room that saw me make this call Friday at 9:30:

 

This is why:

 

 

First off, market had been pummeled (too hyperbolic?) and was due for a bounce.  SPY on the right opened at a volume/price level I'd been tracking along with a fib retracement.  IWM opened with a bounce off of S1 on the daily.  FAS (the finnies) opened just above S1 on the daily with a hammer in the second minute.  The "indicators" are arguably useless on the open, so this was a pure call on the levels.  If you missed that, see the nice double bottom on all three just before 10? Candlesticks showed bullish engulfing patterns on all three indexes breaking above VWAP, and the indicators all showed divergence.  Even I can figure that one out.

I'm no dumb bunny!

 

 

 Anyway...

The week that is:

IWM's Friday low was just above the volume vacuum between 77.40 and 78.70 that contains a couple of confluence levels, then another volume support down in the 76.25 area.  Those would be the first and second levels of support areas this week, otherwise, it's back to the parrot joke.

Qs come into volume support at the 62.20-62.60 level and then confluence at 612.25ish then 60.25.  I would think, as with the IWM, there will be an attempt to regain the 200 SMA.

SPY has already tested the bottom of one volume support, faces further volume support and pivot level confluence in the 135.60-.90ish area and then again near 135.  Volume resistance is overhead in the 140.80-141.50ish area, with pivot resistance and the 50 SMA in the 143s.

 

Oh, almost forgot the $!:

And it keeps chugging along.  Strong $ =weak market...usually.  It's coming into gap resistance with the 200 SMA immediately above.  Those are likely inflection points.  Let's see what happens.  

 

And the bonds:

That's a serious breakout this week with gap resistance in range.  Same inverse relationship usually applies, strong bonds=weak market...not always, but...

That should do it -te moritori salutamos

 

   

 

 

Market Week Wrap-Up

Markets Swoon at Edge of Fiscal Cliff

- US voters handed Barak Obama a narrow victory in the presidential race this week. Equity markets sold off hard after the poll, with both the DJIA and the S&P500 dropping on Wednesday to their lowest levels since early August. Stocks sold off even more on Thursday before bottoming out on Friday. While there was turmoil in Greece mid-week surrounding a critical vote on austerity measures and some grim September German industrial production data out on Wednesday, observers agree that the primary driver of the decline was fear that the US President and the House Republicans would not be able to cooperate to resolve the "fiscal cliff." In Asia, the China began its once-a-decade leadership transition on Thursday after disclosing a round of positive October economic data. In Europe, the BoE and ECB both held rates steady and offered no new initiatives, and the EU Commission's autumn economic forecasts cut the 2012 and 2013 GDP outlooks for nearly every European nation. For the week the DJIA fell 2.1%, the S&P500 declined 2.4%, and the Nasdaq took the biggest hit losing 2.6% due in part to the continuing slide in Apple shares which are now more than 2% off their peak in September. 

- The US woke up on Thursday to a virtually unchanged arrangement of political forces in Washington, with Obama in the White House, the GOP running the House and a slightly larger Democratic majority in the Senate. Market commentators offered their read on the situation on Wednesday: Goldman Sachs' Jim O'Neill said he is even more concerned about the fiscal cliff after the election. Citigroup's base-case scenario for the lame-duck session remains a temporary compromise. Fitch warned that a failure to reach an agreement to resolve the fiscal cliff (and the upcoming debt ceiling) would likely trigger a rating downgrade before late 2013. House Speaker Boehner made it clear on Friday that he would leaving it up to President Obama to make the first move, signaling that he is open to new revenue sources, although it is unclear whether that would extend to any sort of tax increases or only rejiggering the tax code. The president essentially restated his prior position (which the GOP rejected last year) of retaining the Bush tax cuts for the middle class and raising taxes on individuals making more than $250K, though he indicated on Friday that he is "not wedded" to every detail of plan and invited Congressional leaders to meet at the White House next week. 

- China's October economic data were better than expected, reinforcing the perception that Beijing has pulled off a controlled landing just in time for the new leadership to hop in the cockpit and take off again. Consumer inflation dropped to a 33-month low of 1.7% from 1.9% in September, giving the PBoC scope to ease up on monetary policy. Industrial production came in 0.2 points above expectations at 9.6% - the biggest increase in five months - while fixed asset investment saw its biggest increase in seven months. Retail sales rose 14.5% and residential housing investment growth saw a 10.8% gain after falling for 17 consecutive months. Electricity production also returned to growth after falling since March. Analysts warn, however, that at least some of the better data has been driven by credit loosening by banks dictated by the government to coincide with the leadership transition. 

- In Beijing, the Great Hall of the People welcomed over 2,000 delegates for the start of the 18th National Party Congress. Up to nine new members of the Politburo Standing Committee will be unveiled sometime next week, along with the widely expected confirmation of Xi Jinping as the next General Secretary of the Communist Party. 

- McDonald's monthly same-store sales fell for the first time in nearly a decade in October. The last time the company reported a negative comp was in March 2003. The US comp of -2.2% was even worse than the headline -1.8%. Smaller fast-food company Wendy's missed both top- and bottom-line expectations in Q3, although its quarterly comps were positive. 

- Heathcare names Humana and CVS both had pretty solid results in Q3, while Express Scripts missed revenue expectations by a hair and narrowed its FY12 outlook. Humana said it would acquire Metropolitan Health Networks to help build out its Medicare and Medicaid business. The purchase price is $11.25/share, for a total deal worth $850M. Executives from Express Scripts were very cautious about the 2013 outlook, warning that the business would be impacted by client membership reductions, the weak business climate and the poor unemployment outlook. 

- Unlike big oil names reporting last week, Marathon Oil saw better profits thanks to higher production in Q3 and revenue blew out expectations. Operating earnings from oil services name Transocean blew out consensus expectations, however it lost money after items related to its exit from the shallow water market. 

- Both Time Warner and News Corp topped earnings expectations but saw modest but disappointing revenue growth in Q3. Time Warner said advertising was down less than expected in the quarter. News Corp was less positive about advertising revenues, calling the market disappointing. CBS's positive ad revenue performance helped it beat expectations and outperform its rivals. Disney met expectations in its Q4, with solid growth seen in earnings and revenue. The only weak spot was the firm's declining studio entertainment revenue, which helps to explain some of the thinking behind Disney's $4B deal to acquire Lucasfilm announced earlier this week. 

- JC Penney continues to see huge losses and dire revenue falloffs as the firm transforms itself from a bargain basement department store to a sleek retail innovator. Comp sales contracted 26%. On the conference call, JCP's CEO said the new JC Penney is like a start-up and that the business being seen by the transformed stores has been excellent, while blaming the old JC Penney operation for the losses and sales declines. Nevertheless, the firm's transformation will not be complete until 2015, so expect more of the same until then. 

- Travel name Kayak announced that it agreed to be acquired by Priceline.com for $40/share in cash and stock, for a total deal valued around $1.8B. Kayak operates like a search engine where consumers compare Kayak's pricing with other competing websites such as Expedia and Orbitz, as well as Priceline. In other deal news, Stifel Financial Corp said it would buy smaller rival KBW for $575 million in cash and stock. 

- FX traders had placed bets on the US election results in the belief that the dollar would weaken after an Obama win and strengthen in the case of a Romney victory. The greenback initially weakened after the President won re-election on expectations for the easy Fed monetary policy continuing, but the risk-off tone in markets through the rest of the week strengthened the dollar in safe-haven trading. EUR/USD moved below its 200-day moving average of 1.2828 and marked several fresh two-month lows throughout midday on Friday. The slide let up around the 1.2740 area for a little while, which was a 38.2% fibonacci retracement of the 1.2040-1.3170 summer price range. The pair also could not withstand the situation in Europe. 

- Despite the passage of the Greek austerity measures late Tuesday, risk appetite found it quite hard to find any footing in Europe. The Greece austerity vote barely squeaked by with 153 MPs voting for the measure in a 300-member parliament. The aftermath saw expulsions of party members who did not toe the austerity line coupled with violent protests and mass strikes that paralyzed Athens. Risk-off sentiment was aided by press reports that ECB was in no rush to launch the OMT bond buying program and that there was little chance that Spain would request ESM aid in 2012. 

- The Reserve Bank of Australia surprised the markets by keeping rates on hold at 3.25%, citing higher than expected CPI data as well as some signs of stability out of China. Late in the week, a dovish RBA quarterly policy statement lowered GDP projections for 2013 by a quarter-point to 2.75%, keeping the door ajar for another interest rate cut before the end of the year. In New Zealand, the kiwi fell almost a full cent after a surprisingly weak employment report, as Q3 jobless rate spiked to a 13-year high of 7.3%.


 TradeTheNews

Nov 09 2012

Not exactly our day (when slow climb day was?) A few good trades, but a few more stops. 


Session Time: Fri Nov 09 00:00:00 2012

[08:59] {Les} morning all
01[08:59] {Threei}  hey Les
[09:09] {dino} gm
01[09:09] {Threei}  dino :)
[09:14] {cipher} gm
[09:14] {nemo} can you guys get tna chart
01[09:15] {Threei}  cipher :)
[09:15] {Les} yeh TNA fine on fusion
01[09:15] {Threei}  yes nemo
[09:18] {Beau} good morning all
01[09:18] {Threei}  beau :)
[09:21] {Will49} Good Morning
01[09:21] {Threei}  will :)
[09:22] {_traderxxx} good morning
01[09:23] {Threei}  morning traderxx, welcome
01[09:23] {Threei}  ugh, it's 3 x, sorry
[09:23] {_traderxxx} thanks Threei
[09:23] {_traderxxx} long story
01[09:24] {Threei}  that's ok, as long as you don't mind we shorten it somehow... txxx, for instance :)
01[09:24] {Threei}  we are lazy bunch
[09:24] {nemo} Freudian
[09:24] {_traderxxx} no pb
01[09:25] {Threei}  nemo forinatnce even uses "beer" instead of "bread" - only because it's 1 letter shorter
[09:26] {_traderxxx} works for me
[09:26] {Les} xxx easier
[09:26] {Les} but not sure its legal
01[09:26] {Threei}  see? :)
01[09:26] {Threei}  scottie is off today guys, we will have to look for good setups ourselves
[09:27] {Will49} oh no :)
01[09:27] {Threei}  and btw, those who leave early - we got nice AG short yesterday 12 min till close
01[09:28] {Threei}  ese is probably still soundfly asleep
01[09:28] {Threei}  as is tbell, cc_8 etc
[09:28] {Will49} i saved mor $ by getting wife out of USA than by shorting AIG
01[09:28] {Threei}  oops, here he is
[09:28] {ese} morning
01[09:28] {Threei}  ese )
01[09:28] {Threei}  lol will
01[09:29] {Threei}  OK guys, let's wait out first minutes
01[09:29] {Threei}  want to skip opening volatility and see real direction
01[09:29] {Threei}  my feel is, another down day but remember how it tried to fooll us yesterday at the open
[09:29] {ese} fine by me
[09:30] {nemo} spy right at volume support go long
01[09:31] {Threei}  if you need to spend some time reading an imbecile, go no further than this: http://www.nytimes.com/2012/11/09/opinion/krugman-lets-not-make-a-deal.html?_r=1&
[09:32] {Les} lol gotta put that nobel prize to something useful...
[09:33] {nemo} anybody go long?
[09:33] {Les} just gapped under big band of fib support at 79 in IWM
01[09:33] {Threei} Short Setup: FCX  .20 break
01[09:33] {Threei}  hl
01[09:34] {Threei}  If holds  .30
[09:34] {cipher} tna +.32 thx nemo
[09:34] {nemo} np
01[09:34] {Threei}  gj
[09:34] {nemo} we opened at S1 on IWM and in one of the Volume Price bands I i.d.'d
[09:35] {nemo} in SPY
[09:35] {nemo} we probably see short covering this afternoon
01[09:35] {Threei}  .15 is actual support, .20 break is somewhat aggressive
01[09:36] {Threei}  no go
01[09:37] {Threei} Short Setup: LVS  .80 break
01[09:37] {Threei}  If holds  .90
[09:38] {ese} daaaaaaaaaaaaaaaaaaaaaa!!!!!!!!when will I ever learn........watching btu at open.......instead of staying focused........i look away for 30 flippin seconds....and what happens.....daaaaaaaaaaaaa
[09:38] {cipher} out second 1/2 tna +.56
01[09:38] {Threei}  30 seconds is eternity at the open
[09:38] {cipher} good call nemo
[09:38] {nemo} ty
[09:39] {nemo} the levels tend to work pretty well
[09:39] {dino} fb close to gap fill
[09:39] {nemo} SPY won't want to give up the 200 day that easily
[09:39] {dino} sprd hl l .15
01[09:39] {Threei}  LVS touched on 1:2, no secondary entry
01[09:40] {Threei}  1:1, sorry
[09:40] {dino} sprd stop is .98 fwiw
[09:41] {cipher} sprd l.11tna reload .79
[09:41] {ese} L tna .95
[09:42] {dino} kss hl l .35 stop lod
01[09:42] {Threei} Long Setup:  CAT  .65 break hl
01[09:42] {Threei}  If holds  .55
[09:42] {dino} met l .95 break
[09:43] {dino} sprd stop
[09:43] {ese} out tna .15 +.20
[09:43] {cipher} sprd -.13
[09:44] {cipher} out tna .18 +.39
01[09:44] {Threei}  1:1
[09:45] {dino} fire hl l ave .33 thinny
[09:45] {ese} thats beats my tna C
[09:45] {cipher} sprd l.76
[09:46] {dino} waiting for 18.30s
[09:47] {dino} clb clubbed
01[09:48] {Threei} Short Setup: SLW  .85 break
01[09:48] {Threei}  If holds  .95
01[09:48] {Threei}  target 1:3
[09:49] {cipher} sprd stopped .65 -.11
01[09:50] {Threei}  change to .90 break
[09:50] {dino} sprd hl l .25
[09:51] {nemo} 17.82 is the 200 sma
[09:51] {dino} ty
01[09:52] {Threei}  stop above 41
[09:54] {ese} L btu .03
01[09:55] {Threei}  *(US) NOV PRELIMINARY UNIVERSITY OF MICHIGAN CONFIDENCE: 84.9 V 83.0E
[09:55] {dino} out kss .60, +.25
[09:55] {dino} out sprd .55, +.30
[09:56] {dino} bcor hl l .31
01[09:56] {Threei}  1:1
01[09:56] {Threei}  hurray!! Speeches are coming!
01[09:56] {Threei}  (US) House Speaker Boehner to hold press conference at 11:00ET***Note that President Obama will make a statement at 13:00ET, during which he is expected to call on Congress to take steps to deal with the deficit and fiscal cliff issues -
01[09:56] {Threei}  finally!
01[09:56] {Threei}  I missed them so much
[09:57] {Les} wow congress is finally waking up
01[09:57] {Threei}  kidding?
[09:57] {ese} michigan numbers not good enough to move the mrkt
[09:57] {Les} {sarcasm off}
01[09:57] {Threei}  ah
01[09:57] {Threei}  they'll draw their lines
01[09:57] {Threei}  and go back to bickering
01[09:57] {Threei}  Obama: but I have mandate, I won
01[09:58] {Threei}  Boehner: but we won too, and campaigned on our promise
01[09:58] {Threei}  stallmate continues, until compromise will be struck on last minute and on the ugliest terms possible
[09:59] {Les} curious to see if Armstrong's model for rise of 3rd party in 2016
[09:59] {Les} works out
01[09:59] {Threei}  so, if people vote themselves what they want, all this election cycle shows is that they want more of gridlock
[09:59] {dino} phm hl l .45
01[10:00] {Threei}  *(US) SEPT WHOLESALE INVENTORIES: 1.1% V 0.4%E
01[10:00] {Threei}  (US) Philiadelphia Fed Survey sees Q4 GDP +1.8% v prior 2.2%
[10:01] {ese} is that good or bad now............don't know anymore
01[10:01] {Threei}  bad
01[10:01] {Threei}  which for market means good
[10:01] {dino} alxn spike
[10:01] {ese} just saw that
[10:01] {ese} tks
01[10:02] {Threei}  except fiscal cliff scenario - that one both economy andf market see as bad
01[10:04] {Threei}  so, to sum the election, let me repeat:
01[10:04] {Threei}  Never underestimate the power of stupid people in large groups
[10:04] {nemo} DIS weak on this market climb
[10:04] {ese} can equate that with the drinking cliff scnario
[10:05] {Les} ese?
[10:05] {ese} ya
[10:05] {Les} waiting for your elaboration
01[10:05] {Threei}  1:2
01[10:05] {Threei}  playing by the book
[10:05] {Les} ty
[10:06] {Beau} first time i've been called stupid in a long time
01[10:06] {Threei}  but here is a piece of good news and something to look forward to: new Bond today
[10:06] {Will49} tks Vad LVS 1:2
01[10:06] {Threei}  consolation, Beau: it's a very large group and includes both sides of political divide:)
[10:06] {ese} spend that one extra dollar on another drink when you've already had 15..........and..........well .....you figure it out
[10:07] {nemo} might want to watch DIS here if it rejects 47
[10:07] {Les} personal experience? :)
[10:07] {ese} ya ....at vads
01[10:08] {Threei}  let me give you an example
01[10:08] {Threei}  question at exit poll:
[10:08] {ese} oh oh
01[10:08] {Threei}  - do you think tax rates should rise? - NO! Who did you vote for? - Obama!
01[10:09] {Threei}  tell me it's a sane voter
[10:09] {Les} but Obama wouldn't tax the people more would he?
[10:09] {dino} sllllaaaaappppppppppppp
01[10:09] {Threei}  on another side:
[10:09] {Les} hehehe
[10:09] {ese} lol
[10:10] {dino} all obummer is is tax and spend
[10:10] {Will49} true dat
01[10:10] {Threei}  - do you think women have to have right to abort pregnancy in case of rape? YES!. - Who did you vote for in your Senate race? - Akin!
01[10:10] {Threei}  is this one a sane voter?
01[10:10] {Threei}  dies SLW
[10:11] {dino} cnqr hl l .05 ave
01[10:11] {Threei}  1:3
01[10:11] {Threei}  over and out
[10:11] {robbers} me too, thanks
01[10:11] {Threei}  :)
[10:11] {Les} I want more
01[10:11] {Threei}  more for les
01[10:11] {Threei} Long Setup:  LVS  .20 break
01[10:12] {Threei}  If holds  .10
[10:12] {dino} out phm .69, +.24
[10:14] {dino} out met .22, +.26
[10:14] {ese} out btu .25 +.22
01[10:15] {Threei}  wtg
[10:15] {cc_8} Stocks Hitting 52-Week HighsPosted on: Friday, November 9, 2012 - 10:04amKayak Software (NASDAQ: KYAK) shares jumped 26.45% to create a new 52-week high of $39.25. Priceline.com (NASDAQ: PCLN) announced its plans to acquire Kayak in a $1.8 billion deal.
01[10:16] {Threei}  let's trail to .14
01[10:16] {Threei}  SPY is on shaky ground here
01[10:16] {Threei}  hard to tell, whether it's a pullback or reversal
01[10:16] {Threei}  want to tighten risk
01[10:17] {Threei}  out
[10:18] {dino} phm hl l .36
[10:20] {ese} remembrance day ceremonies today to do everyone.......have a great weekend eh.......cya next wekk
01[10:20] {Threei}  take care ese
[10:20] {Will49} be godd ese
[10:20] {Will49} be good
[10:21] {ese} you too vad......nemo special one to you.......being inlvolved with armed forces...take care
[10:23] {Les} stop to .60 slw
[10:23] {cipher} CLB +.96 thx dino
[10:24] {cipher} I'm outta here
01[10:24] {Threei}  nice
[10:24] {cipher} good weekend all
[10:24] {Les} lol ciao c
[10:24] {Will49} peace cipher
01[10:24] {Threei}  have a good weekend cipher
[10:24] {Les} vad can u create an algorithm that mimics Cipher so we can all retire?
01[10:25] {Threei}  no, I want you to suffer
[10:25] {nemo} my kinda' guy
[10:25] {Les} how do I sell that to my wife?
01[10:26] {Threei}  that's risque territory
01[10:26] {Threei}  not going there
[10:26] {Les} well she knows I suffer. I told her about Nemo
[10:27] {nemo} Hel Les, could you take down your Skype picture
[10:27] {nemo} Maybe put Medusa's there?
[10:27] {Les} if only you take down the bunny
[10:27] {nemo} bunny is cute
[10:27] {Les} that's just plain ridiculus
[10:27] {nemo} dictionary dude
[10:28] {nemo} looking for alxn bounce
[10:28] {Les} vad
[10:28] {Les} dictionary
01[10:28] {Threei} Short Setup: CAT  .30 break hl
01[10:28] {Threei}  If holds  .40
[10:31] {Les} damn girls and their telephones. Time to move the house phone elsewhere
[10:31] {Les} missed CAT
[10:34] {nemo} plantation theory ese, house for them house for you
[10:34] {nemo} or build a mancave
01[10:35] {Threei}  New High: 68% See Global Warming As Serious Problem
[10:35] {nemo} wprt looks interesting long here
[10:36] {nemo} 138.27 is 200 SMA on spy we could walk in that neighborhood today
01[10:36] {Threei}  16% Rate Economy as Good or Excellent
[10:37] {dino} out cnqr .33, +.28
[10:37] {nemo} was gonna say enr below 77
[10:38] {nemo} rax wtf
01[10:38] {Threei}  (US) Treasury Sec Geithner considering leaving the post as soon as January - CNBC citing sources
01[10:38] {Threei}  can't happen soon enough
01[10:38] {Threei}  sleezeball
[10:43] {Les} all out SLW. Pivot at .40 was the bottom
[10:43] {Les} .62
01[10:44] {Threei}  ugh... was thinking of .50 break CAT, but it didn't give any consolidation
[10:48] {Les} GDX 51
[10:48] {Les} miners are going lower
01[10:50] {Threei} Short Setup: SLW  .40 break
01[10:50] {Threei}  If holds  .50
01[10:54] {Threei}  btw
01[10:55] {Threei}  refresher to 111 Trades course is coming; 50+ new examples that will be added to it over the course of the next week
01[10:55] {Threei}  I'll let you guys know when to check it out
01[10:57] {Threei}  Invalidated  SLW
01[10:57] {Threei}  too bad, that was pretty inverted C&H in the making
[11:00] {dino} out phm .62, +.26
[11:04] {nemo} DIS
[11:04] {nemo} .50 break stop .40
[11:04] {nemo} spy and iwm touched daily pivots
[11:08] {Les} wow what's with dis?
01[11:08] {Threei}  slow grind up day so far... my least favorite
01[11:09] {Threei}  DIS reported yesterday
[11:11] {Les} it is a 15 min bubble buster
[11:11] {Les} nice long off of 200 M
[11:11] {Les} MA
[11:12] {Les} sorry 3 min bubble buster
01[11:15] {Threei} Long Setup:  TNA  53 break hl
01[11:16] {Threei}  If holds  .85
01[11:18] {Threei}  wasn't Boehner supposed to sell us something at 11?
01[11:21] {Threei}  no go
01[11:21] {Threei}  here he is
01[11:29] {Threei} Short Setup: FCX  .58
01[11:30] {Threei}  If holds  70
01[11:32] {Threei}  after listening to him for 10+ min, I've no idea why he wanted to appear
[11:32] {Les} that crap will infect yer brain
01[11:32] {Threei}  no go FCX
01[11:32] {Threei}  hate these slow climb days
[11:37] {Les} TNA  trying again
[11:38] {Les} .07
[11:38] {Les} out .19
01[11:38] {Threei}  and that's why I hate them... shorts don't work, longs get rinsed
01[11:39] {Threei}  sure, you may get it right with multiple attempts, but I hate this way to trade
[11:39] {Les} you were buying pivot resistance on 1st attempt
01[11:40] {Threei}  don't tell me that doesn't work
[11:40] {Les} I followed ya same time I saw 3 min MACD rolling over. my bad
01[11:40] {Threei}  I do it for 15 years
[11:40] {Les} me 15 hours
01[11:41] {Threei}  there are particular days when this works with less pecrentage
[11:41] {Les} agreed. following you to the letter minus 1 or 2 setups worked well for me
01[11:41] {Threei}  but the day you find a system that works always, do let me know ehere I sign up
[11:41] {Les} not gonna change that stratgy
01[11:44] {Threei} Long Setup:  SLW  .70 break
01[11:44] {Threei}  If holds  .65
[11:52] {nemo} alxn
01[11:52] {Threei}  meh
01[11:52] {Threei}  pullback entry doesn't work either
[11:55] {Les} jpm selling off
01[11:56] {Threei} Short Setup: C  .35 break
01[11:56] {Threei}  If holds  .45
01[12:00] {Threei}  Invalidated
[12:04] {cc_8} Stocks Hitting 52-Week LowsPosted on: Friday, November 9, 2012 - 10:14am SWS Group (NYSE: SWS) shares lost 4.39% to create a new 52-week low of $4.57. SWS Group posted a FQ1 net loss of $5.6 million. .
01[12:05] {Threei} Short Setup: C  .40 break
01[12:05] {Threei}  If holds  .50
01[12:05] {Threei}  little H&S, engulfing red candle, volume blowout
01[12:06] {Threei}  what else do you need to work, friking setup?
01[12:07] {Threei}  if this doesn't work, I asm going to a monastery
[12:07] {dino} bye  :)
01[12:08] {Threei}  hey, it's not resolved yet
[12:08] {Les} hehehe
01[12:08] {Threei}  I underatand your desire to visit me over there, considering it's going to be all-female monastery
01[12:08] {Threei}  but don't even think of dropping by without 12-pack
[12:08] {_traderxxx} pray for us
[12:08] {Will49} lol
01[12:09] {Threei}  die C
[12:12] {dino} fwlt l .00
[12:14] {dino} 12 pack? what will you drink?
01[12:14] {Threei}  Innis&Gunn is the best
01[12:14] {Threei}  but I'll take Sleeman Honey Brown too
01[12:22] {Threei}  (EU) Parliament discussions on 2013 EU budget have reportedly failed
06[12:30] * Threei starts packing sutcase, phones the monastery to make sure the cave has Internet connection
[12:31] {Will49} haha
[12:31] {Les} No internet required when you're praying 10 hrs a day
[12:31] {Will49} and extra rooms...can't pay my rent after today :)
01[12:31] {Threei}  but I have a bet going with dino and beau about debt level in 2016
[12:31] {Les} you will be morally liable for destitution of a trading team
01[12:32] {Threei}  I need to track that path to 20T
[12:32] {Les} we'll pigeon courier you
[12:32] {Les} in 2016
01[12:33] {Threei}  and will... don't try to pin on me your wife's spending spree over last few days {G}
[12:33] {Will49} :)
01[12:35] {Threei}  ok
01[12:35] {Threei}  that does it
[12:35] {Will49} brutal
01[12:35] {Threei}  4 years of omphalosskepsis
[12:35] {Les} bull trap
[12:37] {nemo} rather sesquipedalian of you Vad
[12:37] {dino} out fwlt .35, +.35
01[12:38] {Threei}  coming from you, it's precious, nemo
[12:38] {Les} back for closing hour. dinner time here
[12:38] {nemo} awwwwwwwwwww, shucks
[12:38] {nemo} Vad, shut down his mirc while he's gone
01[12:38] {Threei}  guy who uses proboscis for nose?? :)
01[12:39] {Threei}  lol
01[12:39] {Threei}  C, don't tell me that was a rinse
[12:40] {dino} taking a break
01[12:41] {Threei}  going to the store to look for that beer dino?
[12:48] {Will49} I'm going into the kitchen to get a glass of hemlock and water
01[12:48] {Threei}  a bit oversensitive, aren't we
[12:49] {Will49} yea...just trying to be one of the boys :)
01[12:49] {Threei}  then pour a portion for me!
[12:49] {Will49} hehe
01[12:51] {Threei} Short Setup: NSC  .57
01[12:52] {Threei}  If holds  .65
01[12:56] {Threei}  target around .40
01[12:58] {Threei}  Obama is inviting leaders of Congress to the White House next week for fiscal cliff talks
01[12:58] {Threei}  beer summit?
[12:58] {nemo} gonna' line them up
[13:00] {nemo} shoot them
01[13:07] {Threei}  let's hear the speech
01[13:10] {Threei}  "we can't cut our way to prosperity"
01[13:11] {Threei}  I've nebver heard of any way to tax the way to prosperity or borrow to prosperity either
01[13:11] {Threei}  NSC, half out
01[13:11] {Threei}  Will, put away that hemlock for now
[13:11] {Will49} good thing I waited
[13:12] {Will49} can't partial out if you're dead
01[13:12] {Threei}  but after reviewing some photos of monastery waitresses, that plan is still on
01[13:12] {Threei}  frikin C... that WAS a rinse!
01[13:12] {Threei}  sacre blu
[13:13] {nemo} who's speaking
[13:13] {nemo} ?
01[13:13] {Threei}  guess
[13:14] {nemo} Obama?
01[13:14] {Threei}  yup
01[13:14] {Threei}  (US) President Obama confirms invitation of Congressional leaders to White House to address fiscal cliff; wants to bring business and civic leaders to Washington to get their ideas
01[13:14] {Threei}  - Would like to see a plan that reduces the deficit in a 'balanced' way; would like to see focus on infrastructure
01[13:14] {Threei}  - Must combine spending cuts with increased revenue (including asking wealthy Americans to pay more in taxes, mentions the $250K threshold); must bring down costs of medicare
01[13:14] {Threei}  - Would like to bring down deficit by $4T over the next decade; not 'wedded' to every detail of plan, but will not accept any plan that is not balanced }
01[13:14] {Threei}  - On election day, the majority Americans agreed with approach
01[13:14] {Threei}  - Encouraged by the House Speaker comments that he is open to revenues
01[13:15] {Threei}  two hot air speeches from each side
01[13:16] {Threei}  zero substance
[13:16] {nemo} 4T? it's 1.4T a year, how the hell does he expect to do that?  That means he has to run surpluses
[13:16] {nemo} NFW!!!
01[13:16] {Threei}  hehe
[13:16] {nemo} UFB
01[13:17] {Threei}  this is after borrowing 1.1 - 1.3T each year of the first term
01[13:17] {Threei}  my firm bet is, the same rate of borrowing for the next 4 yearsm, around 1T annually
01[13:18] {Threei}  which takes me to that 20T in 2016
01[13:19] {Threei}  it's simple really: we have about 30% of annual govt expenses borrowed; govt spending is the only thing that keeps GDP growing, even so weakly;
01[13:19] {Threei}  stop borrowing, boom - instant recession
[13:19] {Will49} keep borrowing...death by athousnd cuts
01[13:20] {Threei}  yup
01[13:20] {Threei}  keep borrowing - get closer to the moment when bond byers go on strike
01[13:20] {Threei}  they buy willingly still because US is the skinniest girl in a fat camp
[13:21] {Will49} nice visual
01[13:21] {Threei}  then you have Fed as the only bond buyer,
[13:21] {nemo} yeah, and she'll have to get down on her knees soon
01[13:21] {Threei}  and then you face printing as the only way to extinguish debt
[13:21] {Will49} another nice visual
01[13:21] {Threei}  well, that or default
01[13:22] {Threei}  one is horrible inflation, another is horrible deflation
01[13:22] {Threei}  good governing folks
01[13:22] {Threei}  and that goes for both, democrats and republicans
01[13:23] {Threei}  NDC target hit
01[13:23] {Threei}  NSC
01[13:23] {Threei}  me out
[13:24] {nemo} 12/21/2012 8:21 pm
[13:26] {Will49} NSC out 1:2 tks Vad
01[13:27] {Threei}  :)
01[13:27] {Threei}  that's the exact time of the end of the word?
[13:31] {nemo} yeah
01[13:31] {Threei}  wow, made 1:3
01[13:31] {Threei}  but I had to secure that win
[13:31] {Will49} yea, for the good of my health
01[13:32] {Threei}  look at C
[13:32] {Will49} financials really impressed with Obummer
[13:33] {Will49} and Boner
01[13:33] {Threei}  I think they'd be equally hit with Romney
[13:33] {Will49} now there's apair!
[13:33] {Will49} a pair
01[13:42] {Threei} Short Setup: C  36 break
01[13:43] {Threei}  If holds  .10
01[13:49] {Threei} Short Setup: KRO  .70 break
01[13:50] {Threei}  If holds  .75
01[14:01] {Threei}  C setup is back
[14:05] {Les} interesting to be exiting C at the intraday high
01[14:06] {Threei}  such is nature of rinsing
01[14:06] {Threei}  want to try and hold despite stop being hit?
01[14:07] {Threei}  go ahead and watch your account destroyed
[14:07] {Les} been there done that
[14:09] {dino} .
01[14:10] {Threei}  good point dino
[14:10] {Will49} lol
[14:11] {Will49} well,,,is C s still possible?
[14:12] {Will49} looka a bit ragged to me
01[14:12] {Threei}  36 is clear support
[14:12] {Will49} but what do I know?
01[14:12] {Threei}  if breaks it, it's a valid short
[14:13] {Will49} tks...you comments about destroying accounts confused me
01[14:13] {Threei}  that was addressing comment about C short stopped at the high olf the day
[14:14] {Will49} ah
[14:16] {dino} fio gap fill aug
[14:17] {dino} cnqr hl l .73
[14:18] {Les} s fio .20?
01[14:19] {Threei}  yup
[14:21] {Les} oh i c the gap closure dino
[14:22] {nemo} I wish Les would close his gap
[14:22] {Les} :) not bad
[14:22] {dino} lol
[14:24] {Les} I see why you're divorced
[14:24] {nemo} never married
[14:24] {nemo} they all sobered up before I could get them down the aisle
[14:27] {Les} fair enough
[14:29] {dino} fio hl l .24
01[14:30] {Threei}  (US) White House press secretary: Pres Obama would veto any plan that extends the Bush tax cuts for the wealthy- Urges the House to pass the Senate tax cut bill that extends Bush tax cuts for families earning less than $250K/year.
01[14:31] {Threei}  (US) Senator Majority Leader Reid (D-NV): Elections made it clear that voters agree there is a need for higher taxes on the wealthy
01[14:31] {Threei}  - Senate Minority Leader McConnell: Republicans want to find common ground on entitlement reform.
01[14:31] {Threei}  - There is no concensus in Congress on raising tax rates. - Source TradeTheNews.com
[14:32] {nemo} yeah 53% to 47%
[14:34] {dino} out cnqr .03, +.30
[14:37] {cc_8} The Market Vectors Oil Services ETF (NYSE: OIH) and the iShares Dow Jones U.S. Oil Equipment & Services Index Fund (NYSE: IEZ) are following the broader market higher today as traders and investors do some value shopping following two days of significant losses for stocks.
[14:37] {Les} really?
[14:37] {Les} never mind
[14:41] {Les} bearish 3 min divergences as indexes test pivot
[14:45] {Les} only got 100 off short FIO when it broke. covered when dino went long and went long meself. 2/3 out +.10 rest flat.
[14:46] {Les} now it drops
01[14:47] {Threei}  quite hectic and with no real patterns
01[14:47] {Threei}  just one of those days
[14:51] {dino} fio stop -.24
[14:53] {dino} fb gap fill, but lockup expires 11/14
[14:54] {Les} god that one is crushing investors
01[14:56] {Threei}  deservedly so
01[15:00] {Threei}  this C trade is still there
01[15:01] {Threei}  like fools gold
[15:02] {dino} muc spike
[15:03] {dino} too fast
[15:10] {dino} fio hl l .9o
01[15:12] {Threei}  (US) CIA director Petraeus resigns, citing extra marital affair - NBC news- Petraeus took over as CIA director in Sept 2011. - Note: Press reports as recently as yesterday indicated that General Petraeus was expected to remain in his post into Obama's next term. A number of higher level officials in the Obama administration were scheduled to step down, including Sec of State Clinton, Defense Sec Panetta, and Treasury Sec Geithner
01[15:15] {Threei}  Sony's credit rating heads toward junk pile Japan's electronics sector is reeling, gov't minister says no bailout is coming.
01[15:15] {Threei}  Just over a week ago, we reported that Sharp, one of Japan�s biggest electronics firms, may be set to go under. We also noted how other Japanese tech mega-corporations, including Panasonic and Sony, aren�t doing too well either. After Sharp posted its most recent loss, its financial rating fell to junk status, and the company is now seeking a government bailout. Panasonic was also hit with a near-junk rating by Fitch earlier this month, after it posted a loss 30 times larger than analysts had estimated.
01[15:15] {Threei}  Sony�the biggest of Japan�s big dogs�can�t escape the bad news either. On Friday, Moody's downgraded Sony�s long-term debt rating from Baa2 to Baa3, one notch above junk status. This marks the second time in a month Sony has been hit with a downgrade.
[15:16] {Les} detroit meets godzilla
[15:37] {Les} LOL got caught up on Ray Delio and beautiful deleveraging and missed C entry
01[15:38] {Threei}  1:1
01[15:38] {Threei}  really wanted to finish this day on a winning trade
01[15:39] {Threei}  doesn't take the day into positive territory but having last one winning makes it easier to maintain good mood over the weekend
[15:39] {Les} solid patience there. been flirting with support for last 2 hours
01[15:40] {Threei}  yeah, it was on again, off again
[15:40] {Les} wrong time of the day to be reading blogs
[15:41] {Les} FIO
[15:43] {Will49} Have a great weekend everyone
[15:43] {Les} cheers will
01[15:44] {Threei}  ok guys
[15:44] {dino} u2 will
[15:44] {Will49} cheers all
01[15:44] {Threei}  let's have a better day on Monday and a great week
01[15:44] {Threei}  thank you all, have a good weekend
[15:44] {Les} yeh thanks u 2
[15:44] {nemo} funny how spy doesn't want to give up the 200
01[15:44] {Threei}  see you all Monday
06[15:45] * Les slaps nemo for good measure

Nov 08 2012

Very nice day with a lot of effective trades. One that was dubbed "No support in sight" made Catch of the Day grade.

Session Time: Thu Nov 08 00:00:00 2012
[09:01] {Les} afternoon
01[09:01] {Threei}  hi les
[09:02] {cipher} gm
01[09:02] {Threei}  cipher :)
[09:03] {dino} gm
01[09:03] {Threei}  dino :)
[09:03] {nemo} grunt
01[09:04] {Threei}  it's OK nemo, it'll be over soon
[09:04] {nemo} define soon
[09:04] {Les} enjoying some weather I see
[09:04] {nemo} yeah, if you're a Polar Bear
[09:05] {nemo} with scuba gear
[09:07] {dino} got lucky here nemo, supposed to get 4" of snow, got nothing
[09:08] {Les} http://tinyurl.com/bm4au4s
[09:08] {Les} if it makes you feel any better...
[09:09] {Les} enjoying the lakeside this morning
[09:13] {Les} no? screw you then. freeze yer ass off
[09:14] {nemo} what?
[09:14] {nemo} didn't take your estrogen this morning?
[09:15] {Beau} good morning
[09:15] {Les} didn't take my antideppresent before bumping into you
01[09:16] {Threei}  beau :)
01[09:19] {Threei}  so far, feels to me like selling is about to resume
[09:21] {will49} gm
01[09:21] {Threei}  will :)
[09:21] {nemo} well there smack in the middle of a range to test down at 139 or above at 141
[09:21] {thomcbell} yup with that financial close yesterday - jpm et al might be worth a look for an early reversal
01[09:25] {Threei}  C gap looks excessive to me
[09:25] {nemo} oh boy did I just screw myself
[09:25] {nemo} frickin keyboard
01[09:26] {Threei}  what did you do?
[09:26] {nemo} shorted srpt was just looking at it
01[09:27] {Threei}  doesn't look like much harm
[09:27] {Les} and you lost 1 frikin cent?
[09:27] {nemo} and was actually trying to type in another window
[09:27] {nemo} $1 difference between bid and offer and I'm short, that's $300 bucks
[09:28] {nemo} that
[09:28] {Les} pain is not knowing the inside out of Fusion yet and leaving open orders when you close...
01[09:29] {Threei}  what price did you get?
[09:30] {ese} morning......looks like all hell broke loose yesterday
01[09:30] {Threei}  ese :)
01[09:32] {Threei} Short Setup: FCX  .10 brezk hl
[09:32] {nemo} whoa pulled out a profit
01[09:32] {Threei}  If holds  .20
01[09:33] {Threei}  change to .15 break
01[09:33] {Threei}  If holds  .25
01[09:34] {Threei} Short Setup: C  .30 break
01[09:34] {Threei}  If holds  .40
[09:35] {cipher} srpt l .34
01[09:36] {Threei}  Invalidated  C
[09:36] {nemo} frickin cipher
[09:36] {nemo} guess he's done for the morning
[09:36] {cipher} out .00
01[09:36] {Threei}  lol
[09:37] {cipher} not yet
[09:37] {cipher} but thanks
01[09:37] {Threei} Short Setup: CAT  .80 break hl
01[09:38] {Threei}  no go
[09:38] {nemo} looks like spy will test the .16 level at daily pivot if it moves above loook for 141
[09:39] {ese} L btu .52
01[09:39] {Threei}  not FCX
[09:42] {nemo} .26 is weekly S1
01[09:42] {Threei}  jeez
01[09:43] {Threei}  CAT, that was really disgusting rinse
[09:43] {thomcbell} aapl trades so poorly very nice stuff this am
01[09:44] {Threei} Short Setup: C  .55 break
01[09:44] {Threei}  If holds  .65
01[09:46] {Threei}  trail to .61
[09:47] {ese} stop to .60 btu
01[09:48] {Threei} Short Setup: JPM  .40 break
01[09:48] {Threei}  ugh, late
01[09:50] {Threei} Short Setup: MRO  .05 break
01[09:50] {Threei}  If holds  .10
[09:51] {ese} daaaaa stopped .59 +.07
01[09:52] {Threei}  C half out
01[09:52] {Threei}  stop to .56
01[09:52] {Threei}  1:1
[09:52] {ese} suucraa day blu...........some days you win big some days small
01[09:52] {Threei}  lol
01[09:52] {Threei}  cry me a river
[09:52] {ese} anddddddd...........naturally it takes off
01[09:53] {Threei}  C baby
01[09:53] {Threei}  1:2
01[09:53] {Threei}  out
[09:53] {ese} nice one vad
[09:54] {nemo} MCD
[09:54] {Les} last at .32 ty sir
01[09:54] {Threei}  :)
[09:54] {Les} looks like a db
[09:56] {nemo} esrx at 55 important level
[09:56] {cipher} mcrs l .97
01[09:58] {Threei} Short Setup: /S  wy 27 break
01[09:58] {Threei}  umm
01[09:58] {Threei} Short Setup: WY  27 break
[09:58] {nemo} huh?
01[09:59] {Threei}  If holds  .10
01[09:59] {Threei}  ok MRO
01[09:59] {Threei}  lose 30 and die
01[10:00] {Threei}  I mean cascade
[10:00] {nemo} should be good to .70ish
[10:00] {nemo}  if it does
[10:01] {ese} L btu .79
01[10:01] {Threei}  to 50MA on daily?
[10:01] {nemo} y
01[10:02] {Threei}  a bit too slow for such removed target
[10:02] {nemo} so much action on the daily in this area though
01[10:02] {Threei}  on other hand, C was slow at first too
[10:02] {ese} out ,82
[10:02] {nemo} well, C is so frickin liquid
[10:02] {ese} +.03
01[10:02] {Threei}  then accelerated like enthelope with turpentine up its butt
[10:02] {ese} ouuuuu  saw that dive in the spyders
[10:02] {nemo} antelope?
01[10:03] {Threei}  ?
01[10:03] {Threei}  oh
[10:03] {ese} antelope?
01[10:03] {Threei}  you try to type with fins
[10:03] {Les} enthelope sounds more Dr Suess
[10:04] {Les} you can sell the film rights
[10:04] {ese} anddddddddd!!!!!! it will take off you just watch
01[10:04] {Threei}  no one is dusturbed by the image of anthelope with turpentine... it's mistype that attracts attention
[10:04] {ese} lol
[10:04] {ese} indeed
[10:05] {Les} sound logic
01[10:05] {Threei}  you guys are deeply deeply worrisome
01[10:05] {Threei}  MRO 1:1
[10:05] {ese} lol...........yes.........we are indeed
[10:06] {ese} as a matter of fact.........i represent that remark
[10:06] {will49} everybody crazy except you and i
01[10:06] {Threei}  which one, anthelope with turpentine or mistype?
[10:06] {will49} and i worry about you
[10:07] {ese} L btu .70
01[10:07] {Threei}  let's trail WY to .06
[10:07] {nemo} esrx looks nice short here
01[10:08] {Threei}  which short doesn't?
[10:08] {nemo} rgr
01[10:08] {Threei}  WY 1:1
01[10:08] {Threei}  lol
[10:08] {ese} hl with btu.....this should work this time
01[10:08] {Threei}  even that maybe
[10:09] {ese} I like the way its holdng up against the spyders
01[10:09] {Threei}  after initial hiccup, 3 trades work nicely
[10:10] {Les} http://www.youtube.com/watch?v=zM9zMQ179CM
[10:10] {Les} I want some more...
[10:11] {nemo} hah, kirsten dunst
[10:11] {ese} more of what?
[10:12] {Les} £££££££££££££££££
[10:12] {ese} explain yourself
[10:12] {Les} or $$$$$$$$$ as the case may be
01[10:12] {Threei}  http://www.youtube.com/watch?v=nGJku2nZaYw
[10:13] {nemo} it feels like the trap door is about to open
[10:13] {nemo} which means it will go the other way ;-)
[10:13] {nemo} wow aapl getting sold off
[10:14] {Les} RIG
[10:14] {ese} nobody liking the new 13" macbook pro retina display perhaps
01[10:16] {Threei}  MRO 1:2
[10:18] {Les} RIG death
[10:22] {Les} all covered MRO ty
01[10:22] {Threei}  1:3, over and out
01[10:22] {Threei}  nemo was right
01[10:23] {Threei}  wow, it's painful
[10:23] {Les} damn Nemo's not only good looking...
[10:23] {will49} finally got 1:2 on C. tks vad
01[10:23] {Threei}  :)
[10:23] {will49} make that 1:3
01[10:23] {Threei}  right
01[10:23] {Threei}  though so
[10:23] {nemo} Les, you're married
01[10:24] {Threei}  WY 1:2
[10:24] {Les} and here I thought you were just a new age spiritual bimbo
[10:24] {nemo} aapl got worms
01[10:24] {Threei}  idea of selling resumption was right, were were just a little early in the morning
01[10:24] {Threei}  as soon as that initial spike exhausted itself, it was short at will
[10:25] {Les} way outside 15 min bands all these stocks
[10:25] {Les} but after yesterday, ain't gonna guess the bounce
[10:25] {Les} presume the bounce
[10:27] {nemo} well, my reasoning:  so much activity in this area on the daily going back to September where's the logical bounce spot
[10:27] {nemo} drops the 50, got the open on that daily and then the low from 3 days ago, then the 200
[10:29] {nemo} you, as a cross between neanderthal and cro magnon have genetics working against you
[10:29] {Les} who me?
[10:29] {dino} cnqr hl l .50
[10:29] {nemo} would I speak to anyone else in this room like that?
[10:30] {Les} I dunno. Robbers maybe?
[10:30] {Les} Will?
[10:30] {nemo} you're proving my point
[10:30] {will49} careful
[10:30] {Les} :)
[10:30] {will49} i always speak highly of you Les
[10:30] {Les} apologies Will
[10:31] {nemo} you won't for long
01[10:31] {Threei}  lol
[10:31] {Les} you speak to whom?
[10:31] {nemo} will
[10:31] {will49} anyone who'll listen
[10:31] {thomcbell} fcx looking long here
[10:31] {thomcbell} waiting a bit
01[10:31] {Threei}  wow will... if I limited myself like that, mirror would be my only listener
[10:31] {will49} :)
01[10:32] {Threei} Long Setup:  GLD  .30 break
[10:32] {dino} osk hl l .25
01[10:32] {Threei}  If holds  .20
[10:32] {dino} out osk .74, +.49
[10:33] {Les} nice dino
[10:33] {thomcbell} fcx 38.62 break if holding 38.52
[10:33] {Les} holy crap OSK
[10:33] {cipher} tna l .20
[10:34] {dino} ty
[10:34] {scottie} good morning
[10:34] {nemo} partial here cipehr
01[10:34] {Threei}  Oshkosh Corp Icahn sends open letter to shareholders; not conducting tender offer to take the company private- Urges shareholders to tender before the Dec 3 deadline. **REMINDER: 10/26: OSK board rejects Icahn $32.50/shr offer as inadequate and highly conditional; adopts shareholder rights plan.
01[10:34] {Threei}  scottie :)
[10:34] {nemo} spy touched vwap
[10:34] {nemo} imo of course
[10:34] {Les} Nemo was just talking about you Scottie
01[10:34] {Threei}  1:1
01[10:35] {Threei}  that's 4th winner in a row
01[10:35] {Threei}  can I go home?
[10:35] {nemo} nice deflection wombatpoker
[10:35] {scottie} Absents are always wrong, of course
01[10:35] {Threei}  Les, you wanted more
[10:35] {cipher} out 1/2 tna .51 +.31
01[10:35] {Threei}  no more for les
01[10:36] {Threei}  or, to use classic quote, http://www.youtube.com/watch?v=nGJku2nZaYw
[10:36] {robbers} Very nice trading this morning, Vad, thanks.
01[10:36] {Threei}  :)
[10:37] {dino} less cis more, lol
[10:37] {dino} 'is
[10:37] {will49} yes Vad...you're cookin'
[10:37] {Les} no, Les wants more
01[10:37] {Threei}  http://www.realitytrader.com/vad/LES.JPG
[10:38] {nemo} speaking of Raven
[10:38] {nemo} not a peep out of him in a while
01[10:38] {Threei}  he circles
[10:39] {will49} he also quoths
[10:39] {dino} esv hl l .70
[10:39] {nemo} yeah....we've been down that road will
[10:40] {cipher} osk s .95
[10:40] {will49} well...excuse ME
[10:40] {nemo} careful, will put you in the Les category
[10:40] {will49} oops sorry about the caps
01[10:41] {Threei} Short Setup: SLW  .70 break
01[10:41] {Threei}  awww'
01[10:41] {Threei}  late
[10:41] {nemo} BIG spy volume
[10:42] {Les} yeh what give
[10:42] {Les} s
01[10:42] {Threei}  no news yet
[10:42] {dino} out cnqr .76, +.26
01[10:42] {Threei}  ah, here it is
01[10:42] {Threei}  (GR) EU ministers said to be delayed decision on Greece aid for a few weeks; still awaiting Troika report - financial press- Now see making decision on Nov 26
01[10:42] {Threei}  believe it or not, it's Greece again
01[10:43] {Threei}  they run out of duct tape
[10:44] {nemo} wow, two accidental trades, now....thought I was pouring a cup of coffee and it turned out to be a glass of wine
[10:44] {Les} you're worse than my wife
[10:45] {nemo} Oh, Les...cmon!!! Big softball, right down the middle of the plate
[10:45] {Les} I can see the wheels turning...
01[10:45] {Threei}  EU is Titanic that see a big iceberg named Spain not very far away but can't even get to it, continuously crashing in my smaller one named Greece
01[10:45] {Threei}  my - much
[10:45] {nemo} MNST
[10:45] {will49} you should write for the WSJ Vad
01[10:46] {Threei}  they don't pay that well
[10:46] {cipher} cov osk .90 +.05
[10:46] {dino} out esv .05, +.35
[10:47] {robbers} wtg dino.
[10:48] {Les} lol just watched best bits of soup nazi episode. funny...
[10:48] {dino} ty
01[10:49] {Threei}  you mean you haven't watched whole Seinfield?
[10:50] {nemo} cat
[10:50] {Les} god no. nauseating nasal New Yorker voice gives me the horrors
[10:50] {Les} Elaine's a gas though
01[10:50] {Threei}  boy, you Europeans are weird...
[10:50] {will49} haha
[10:50] {Les} LVS
[10:50] {Les} CAT
[10:51] {nemo} [10:50] {nemo} cat
[10:51] {Les} duh
[10:52] {Les} FCX maybe too
[10:58] {scottie} VZ s .40 ?
[10:58] {scottie} if holds .50
[10:59] {ese} gotta go all.....was stopped out of btu .60 -.09 ah well .....just one of dem tings.......cya tomorrow
01[10:59] {Threei}  yes
01[10:59] {Threei}  good-looking chart
[10:59] {nemo} Prudential has been selling in the future for the last couple of weeks they announced a big derivatives loss yesterday, and they are still selling...something big is going on
[10:59] {Les} ciao ese
01[10:59] {Threei}  take care ese
[10:59] {ese} ciao les
[10:59] {ese} vad
[10:59] {will49} bye ese
[10:59] {dino} esv hl l .40
[11:00] {dino} out esv .64, +.24
[11:02] {nemo} vrsn
[11:06] {thomcbell} long setup fio 22.86 break if holding 22.75
[11:06] {thomcbell} target is 1:3
[11:07] {thomcbell} invalidated
[11:07] {scottie} TOT l .10 ?
[11:07] {thomcbell} still will be watching for the entry
[11:08] {nemo} .14 is vwap scottie
[11:08] {scottie} ok tks
01[11:08] {Threei}  I'd take it here
01[11:08] {Threei}  with stop under 48
[11:08] {nemo} looks short to me
01[11:08] {Threei}  less chance of working, very small stop, much better potential
[11:08] {nemo} triple top
[11:09] {nemo} up against vwap
01[11:09] {Threei}  it tests low of ascending vhannel, nemo
01[11:09] {Threei}  and SPY reverses
01[11:09] {Threei}  good long entry
[11:09] {nemo} then again spy looking stronger
[11:10] {dino} esv hl l .05
01[11:10] {Threei}  now offer half into spike after break
[11:11] {dino} out esv .33, +.28
01[11:12] {Threei}  wtg
[11:12] {dino} ty
[11:12] {dino} thing = pulp
[11:18] {scottie} TOT stopped, nemo wins
01[11:19] {Threei}  not per my method
01[11:19] {Threei}  .03 entry, half out at .10, stop at .01 second half
01[11:20] {Threei}  that's what god created aggressive entries for
[11:21] {scottie} Guess I don't master the technique yet
[11:21] {thomcbell} i am long small fio again 1/2 lot
[11:21] {nemo} yeah TOT kissed vwap and dropped
01[11:21] {Threei}  you missed my comment earlier?
[11:22] {thomcbell} looking for 23.30
01[11:24] {Threei}  nice find tbell
[11:27] {thomcbell} tu
[11:29] {Les} PM sector spike
[11:33] {scottie} FL s .75 ?
01[11:33] {Threei}  yes
[11:34] {scottie} in .74
[11:37] {nemo} GDX SLW
[11:42] {nemo} a Richard Branson joke:  A mother and her young son were flying on Virgin Australia, from Brisbane to Melbourne. The son turned to his mother and asked: “If big dogs have baby dogs and big cats have baby cats, why don't big planes have baby planes?”
[11:42] {nemo} The mother, who couldn't think of an answer, told her son to ask the flight attendant. So the boy asked the flight attendant: “If big dogs have baby dogs and big cats have baby cats, how come big planes don't have baby planes?”
[11:42] {nemo} The flight attendant responded: “Did your mother tell you to ask me?”
[11:42] {nemo} The boy admitted that this was the case.
[11:42] {nemo} “Well, then, tell your mother that there are no baby planes because Virgin Australia always pulls out on time. Ask your mother to explain that to you."
[11:43] {will49} lol
[11:43] {nemo} gold stocks all rocketat at 11:20
[11:43] {scottie} lol
[11:43] {Les} lol we bored
[11:43] {will49} even Australian women are cocky
01[11:43] {Threei}  lol
[11:43] {Les} yeh was contemplating the 40 break but that was strange
[11:44] {Les} CAT wants vwap break here
[11:45] {nemo} breakout at lunch meh
[11:45] {will49} hate when that happens
[11:46] {Les} how long do you fat cats go out to lunch for?
[11:47] {will49} give him an english lesson nemo
[11:47] {Les} Vad how goes that tablet of yours? The ASUS
[11:47] {nemo} For how long do you fat cats go out to lunch?
[11:47] {will49} yes
[11:50] {Les} VRSN might offer a 43 b/d shortly
01[11:51] {Threei}  oerfect tool Les
01[11:51] {Threei}  perfect too
[11:51] {will49} ha....
[11:51] {will49} Freudian slip Vad
[11:53] {nemo} vrsn!!!
[11:55] {scottie} PBR s 21 ?
[11:56] {thomcbell} wll - look at this intraday chart
01[11:58] {Threei}  not sure PBR
[11:58] {scottie} ok
01[11:58] {Threei}  FL finally
01[11:58] {Threei}  1:1
[11:58] {nemo} think .20 possible
[11:58] {scottie} half out
[11:59] {scottie} stop above .75
[11:59] {nemo} indexes feel long here to vwap
[12:02] {nemo} or not
01[12:02] {Threei}  not to me
[12:05] {nemo} yeah, still looks like a vwap run coming but that's not far
[12:11] {dino} 07 still all red
[12:12] {scottie} 1/4 more out
[12:13] {dino} thr hl l .51
[12:19] {scottie} stop above .65
[12:19] {thomcbell} thc looks terrible here
[12:19] {thomcbell} easy come easy go i suppose
[12:26] {Les} VRSN b/d here vad?
[12:26] {Les} maybe long again
01[12:28] {Threei}  not sure
[12:29] {will49} finally 1:2 on FL tks scottie
01[12:29] {Threei}  coming on 1:3
[12:29] {scottie} yw :)
[12:30] {will49} was late getting in
[12:33] {scottie} stop above .61
01[12:33] {Threei} Long Setup:  RGR  .10 hl
01[12:34] {Threei}  actually, 1/4 lot
01[12:34] {Threei}  If holds  .90
[12:34] {scottie} very spready ?
01[12:34] {Threei}  yes
01[12:37] {Threei}  disregard
01[12:37] {Threei} Long Setup:  MCD  .60 break hl
01[12:37] {Threei}  If holds  .50
[12:40] {scottie} fl stop .56
[12:41] {scottie} out FL +.28
[12:41] {scottie} .29
01[12:41] {Threei}  wtg
[12:42] {nemo} rax interesting
[12:42] {scottie} tks
[12:43] {thomcbell} thc long setup 26.40 break if holding 26.33
01[12:45] {Threei}  market looks breakdownish
01[12:45] {Threei} Short Setup: LVS  .45 break
01[12:45] {Threei}  If holds  .50
01[12:47] {Threei}  no go MCD
01[12:48] {Threei}  LVS loses .40, no support in sight
[12:48] {nemo} 42.73
[12:57] {thomcbell} thc still valid - fyi
[12:57] {thomcbell} has not triggered
[12:58] {nemo} slw and gdx look bullflaggish
[12:59] {thomcbell} fio what a nuisance
[13:00] {thomcbell} thc in
01[13:03] {Threei}  FINALLY!!!
01[13:03] {Threei}  EU and ten Latin American nations have signed agreement to end banana trade dispute
[13:03] {will49} :D
01[13:03] {Threei}  our troubles seem to be over
01[13:04] {Threei}  if we can resolve banana dispute, fiscal cliff or debt burden is peanuts
[13:04] {will49} maybe Obummer can take credit fir that too
01[13:05] {Threei}  you mean he was leading negotiations from behind?
[13:05] {will49} BOHICA governing
[13:05] {Les} TNA
01[13:05] {Threei}  there is talk about Geithner resigning
01[13:06] {Threei}  can't happen soon enough
[13:06] {will49} he saved the world, what would he do for an encore/
[13:06] {Les} return to GS
[13:06] {Les} or is it JPM?
01[13:07] {Threei}  resolve spinach dispute?
01[13:07] {Threei}  or lead artichoke negotiations?
01[13:08] {Threei}  die LVS
01[13:10] {Threei}  half out
01[13:10] {Threei}  .32
01[13:16] {Threei}  1/4 more out
[13:17] {thomcbell} good patience kiddo
01[13:17] {Threei}  will try to cover the last piece around 43.05
01[13:17] {Threei}  thatnks dad
[13:17] {thomcbell} hehe
01[13:17] {Threei}  :)
[13:19] {Les} quarter at .20ty
01[13:19] {Threei}  yw
[13:22] {Les} seems those die hard communists are good for something after all
01[13:22] {Threei}  ?
[13:22] {Les} threatening Macau's special status or the rumour of such
01[13:22] {Threei}  ah
[13:24] {Les} got a great photo of Chinese woman fingering my daughter in Macau
[13:24] {Les} she'd never seen skin so white
01[13:24] {Threei}  LVS baby
01[13:25] {Threei}  stop to .15
01[13:25] {Threei}  choking it
[13:25] {dino} so down 400 pts since election
[13:25] {thomcbell} 1380 is upward sloping 200 sma FYI
01[13:25] {Threei}  to .11
[13:25] {dino} feels like we break it
[13:26] {dino} selling picking up
01[13:26] {Threei}  to .06
[13:26] {Les} out .99 ty
01[13:26] {Threei}  seems like market realized: obamacare is here to stay and suffocate companies,
01[13:27] {Threei}  taxes will rise,
[13:27] {Les} family about to tear me apart if I don't serve them dinner
01[13:27] {Threei}  fiscal cliff will be resolved the ugliest way possible, eliminating jobs even more
[13:27] {dino} esv getting interesting again
01[13:27] {Threei}  welcome les
[13:27] {dino} hl l .35
01[13:28] {Threei}  deficit and debt problem is not going to be dealt with
01[13:28] {Threei}  any wonder market tanks?
01[13:33] {Threei}  to .01
[13:39] {dino} out esv .61, +.26
01[13:39] {Threei}  wtg
[13:44] {dino} ty
01[13:46] {Threei}  out
01[13:46] {Threei}  happy
[13:46] {will49} Excellent trade Vad
01[13:46] {Threei}  ty
[13:59] {thomcbell} thc 1:1
[14:02] {dino} out thr .70, +.20. thing won't move
[14:21] {scottie} AG l .80 ?
01[14:24] {Threei}  probably... ahtough I'd really prefer pullback entry
[14:25] {scottie} ok, waiting for pullback
[14:30] {will49} Vad...how far does the pullback need to be for an .80 entry?
01[14:32] {Threei}  what I mean is, if it drops to about .70, I'd be interested in aggressive entru
[14:32] {will49} tks
01[14:33] {Threei}  Ashley Judd considering a senate run in 2014
01[14:33] {Threei}  shoot me now
[14:33] {scottie} do you think AG is still interesting
01[14:33] {Threei}  near .60 even better
01[14:34] {Threei}  unless SPY loses .50 support
[14:35] {nemo} geez  appl only down 17 today
[14:35] {nemo} aapl
[14:39] {Les} keep missing these vrsn breaks
[14:39] {Les} maybe back to R3
[14:39] {scottie} I don't understand that kind of setup Vad, don't know when to enter
01[14:40] {Threei}  there was no clear entry here
[14:40] {scottie} ok
01[14:41] {Threei}  dive under .60 and recross is normal approach, but happened too fast for any discernable setup
01[14:47] {Threei}  will... interection of Montreal Street and Simcoe Avenue - how far from you?
[14:48] {will49} about  a mile
01[14:48] {Threei}  couple hours ago, cougar sighting
[14:48] {nemo} I like older women
01[14:48] {Threei}  she may still be there if you hurry
[14:49] {will49} Long run from Bellingham
[14:49] {will49} still there
[14:49] {Les} lol nemo nice one
01[14:49] {Threei}  although competition ight be severe:
01[14:49] {Threei}  Officers are currently on scene searching for the cougar, and local schools have been advised
[14:49] {will49} htought you were asking how far from my house
01[14:49] {Threei}  oh, I thought you were back already
[14:50] {will49} leaving in an hour
01[14:50] {Threei}  nah, I think those from "local schools" will be faster... don't rush :)
[14:50] {will49} Carolyn needs two days here to do maximum damage
01[14:51] {Threei}  what is it, grocery shopping?? :)
[14:51] {will49} Oh ya
[14:51] {will49} plus any other kind of shopping
[14:52] {will49} clothes yesterday, groceries today
01[14:53] {Threei}  how do you get there, via Coho or Vancoiver?
01[14:53] {Threei}  or anacortes?
[14:53] {will49} Thru Peace Arch
[14:53] {will49} Anacortes pretty but slow
[14:54] {will49} Wait at Peace Arch Tues was only 10 min
[15:04] {dino} zzzzzzzzzzzzzzzzzzzzzzzz
[15:04] {Les} VRSN dino, just broke
[15:05] {dino} good day but afternoons suck since june
[15:05] {dino} not thrilled w/it les
01[15:06] {Threei}  pretty much
[15:06] {Les} s .30
[15:08] {Les} out .01 for real continue partialling on paper
[15:08] {Les} stop .20
[15:08] {Les} R3 is 41.50
[15:12] {dino} vrsn would'veworked short, good spot les
[15:13] {Les} not my ideal setup
[15:13] {Les} break .30 and hope it keeps going. had .40 stop in case of failure to break down
[15:18] {Les} stop .10
[15:20] {scottie} Leaving now, bye everyone, day off tomorrow, will see you monday
01[15:20] {Threei}  take care scottie, have a good weekend
[15:20] {will49} See ya scottie
[15:20] {scottie} Vad, Will
[15:20] {Les} ciao man
[15:20] {scottie} Les
[15:21] {will49} Guess I'd better drag my wife out of Obummer country
[15:21] {will49} cheers everyone
01[15:21] {Threei}  hmmm
01[15:21] {Threei}  look here will:
01[15:21] {Threei}  http://i.imgur.com/9lBaf.png
01[15:22] {Threei}  you may contribute to GDP just as well while you are there, they could use it
01[15:22] {Threei}  especially considering this:
01[15:22] {Threei}  http://i.imgur.com/CmOE0.gif
[15:22] {will49} We did as much as we could:)
[15:23] {Les} .00
01[15:23] {Threei}  last one is Average U.S. Hourly Earnings
01[15:28] {Threei}  (US) S&P forecasts 15% chance that the US will go over the 'fiscal cliff' due to political brinksmanship- Sees highest likelihood that the Govt reaches a compromise to avoid most and possibly all of the negative economic impacts of going over the cliff
[15:29] {Les} .90
[15:30] {Les} ok off to bed
[15:30] {Les} c u's tomorrow
01[15:31] {Threei}  take care Les
01[15:31] {Threei} Short Setup: AG  .80 break
01[15:31] {Threei}  If holds  .86
[15:41] {dino} calling it a day, thx all
01[15:42] {Threei}  take care dino
[15:47] {nemo} what up with wprt
[15:48] {thomcbell} why is it up?  It has gotten killed
[15:48] {nemo} halted
01[15:48] {Threei}  Westport Innovations Inc Reports Q3 -$0.59 v -$0.39e, R$76.1M v $84.6Me- Affirms FY12 Rev $340-350M v $373Me (prior $340-350M)
01[15:48] {Threei}  AG 1:1
01[15:49] {Threei}  covered and done for the day
01[15:49] {Threei}  thank you all, have a good evening
01[15:49] {Threei}  see you tomorrow
[15:49] {nemo} spy going for the 200 sma