Nov 12 2012

Slightly negative day, as exceptionally low volume kept follow-through minimal. win, loss, three wins, three losses, win... you got the idea.

Session Time: Mon Nov 12 00:00:00 2012

[09:01] {scottie} good morning

01[09:02] {Threei}  morning scottie

[09:02] {scottie} Will be away for an hour or two, but keeping a channel open

[09:08] {dino} gm

01[09:09] {Threei}  dino :)

01[09:10] {Threei}  51% Think Auto Bailouts Were Good for the United States

01[09:11] {Threei}  see what I meant when said we are witnessing major remaking of american psyche

[09:18] {Will49} GM

01[09:18] {Threei}  will :)

[09:20] {nemo} interesting experience waking up to a rabbit sniffing your face

01[09:21] {Threei}  try not to fall asleep with carrot in your ear?

[09:21] {nemo} not usually in that orifice

[09:24] {Les} morning

[09:24] {Les} or afternoon  as the case may be

01[09:25] {Threei}  les :)

[09:25] {Beau} good morning

01[09:25] {Threei}  beau :)

01[09:28] {Threei}  main challenge as with all gap up days is...

01[09:29] {Threei}  to tell early whether we face slow climb up or reversal

[09:29] {cipher} gm

01[09:29] {Threei}  keep an eye on CAT that didn't get a memo about gap up

01[09:29] {Threei}  cipher :)

01[09:30] {Threei} Short Setup: CAT  .50 break hl

01[09:30] {Threei}  not much chance

01[09:31] {Threei}  but if by some miracle you got itm you know what to do

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

01[09:31] {Threei}  If holds  .50 

[09:32] {ese} morning got carried away reading about Petraeuses career

01[09:32] {Threei}  lol

[09:32] {thomcbell} looking for a long setup in FB - has been a relentless selloff since the positive earnings response

01[09:32] {Threei}  ese :)

01[09:33] {Threei}  let's trail to .54

01[09:33] {Threei}  takes too long

01[09:33] {Threei} Long Setup:  LVS  .60 break

01[09:33] {Threei}  If holds  .50 

01[09:34] {Threei}  FCX 1:1

[09:34] {ese} L btu .41

[09:36] {Les} DB cat?

01[09:36] {Threei} Short Setup: CAT  .25 break hl

01[09:36] {Threei}  If holds  .35 

[09:38] {nemo} cat two way

01[09:38] {Threei}  probably

01[09:38] {Threei}  not liking widening spread

[09:38] {nemo} is it trading :-)

[09:39] {nemo} gappy trading for cat

01[09:39] {Threei}  it is

01[09:40] {Threei}  trail LVS to .54

01[09:40] {Threei} Short Setup: FCX  .65 break

01[09:40] {Threei}  If holds  .70 

01[09:43] {Threei}  no go FCX

[09:43] {nemo} think today is buy support sell resistance

[09:43] {dino} fwlt gap fill

[09:43] {thomcbell} yes thats how it feels to me 

01[09:43] {Threei}  LVS 1:1

01[09:43] {Threei}  target 1:2

[09:47] {thomcbell} long setup FB 19.10 break if holding 19

[09:47] {thomcbell} playing this one by the book 

[09:47] {cipher} fwlt l .55

01[09:48] {Threei}  1:2

01[09:48] {Threei}  out

01[09:48] {Threei} Long Setup:  FCX  .70 break

[09:48] {Les} me 2 ty

01[09:48] {Threei}  yw

[09:50] {Les} wow was wondering which way for SLW

[09:54] {cc_8} Hill International Selected as Construction Manager for $1.4B Rising Sun Taipei City in ChinaPosted on: Monday, November 12, 2012 - 9:32am Hill . International (NYSE: HIL), the global leader in managing construction risk, . announced today that it has been selected by Rising Sun International

01[09:55] {Threei} Short Setup: MET  .85 break

[09:56] {cc_8} Spain's Bankia reports 4 billion euro loss, to receive immediate aid

01[09:57] {Threei}  (GR) Parliament in Germany said to be planning to hold vote on the Greece aid at some point next week - financial press

01[09:58] {Threei}  (GR) Preliminary Troika technical report said to indicate Troika sees "very large risks" related to the Greece program, sees more financing needs in 2015-16 period - financial press- Troika sees perceptible improvement of compliance by Greece. - Greek program shortfalls said to stem from slow growth rates and delays in asset sales. - Notes Greece will need an added �15B through 2014

[09:59] {cipher} fwlt stopped .46 -.09

01[09:59] {Threei}  let's keep MET at .91

[10:01] {dino} fwlt l .53

01[10:02] {Threei} Long Setup:  ED  .25 break

01[10:02] {Threei}  ugh, late

[10:04] {nemo} spy iwm long setup

[10:04] {nemo} don't know if much in it today

01[10:04] {Threei}  not very clear

01[10:05] {Threei} Long Setup:  SLW  .25 break

01[10:05] {Threei}  If holds  .15 

[10:05] {cipher} fwlt l.53

[10:07] {Les} db play slw=

[10:07] {Les} ?

01[10:08] {Threei}  could be, not clear hyet

01[10:08] {Threei}  SPY is hesitant

01[10:08] {Threei}  can't make up its mind

[10:08] {Les} yeh BB's tightening here 1 min

01[10:08] {Threei}  feels to me like resolution is about to come in a form of breakdown

01[10:09] {Threei} Short Setup: CAT  85 break hl

01[10:09] {Threei}  If holds  .10 

[10:10] {dino} bzh hl l .55

01[10:11] {Threei} Short Setup: SLW  .07

01[10:11] {Threei}  If holds  .15 

01[10:11] {Threei}  here comes my breakdown

01[10:12] {Threei}  CAT target 1:3

01[10:15] {Threei}  is it blind or what

[10:16] {cipher} BZH S .53

[10:16] {cipher} COV 1/2 .41

[10:18] {dino} bzh stop -.22

[10:20] {Will49} the cat is taking a catnap

01[10:21] {Threei}  not liking such a long stall

[10:22] {cipher} cov rest bzh .21+.32

01[10:23] {Threei}  oh well

01[10:23] {Threei}  not following the market

01[10:23] {Threei}  interestingly, not many stocks did

[10:24] {cipher} bzh l .91

01[10:25] {Threei}  FCX lmost looks like it mirros market in opposite direction

01[10:25] {Threei} Short Setup: HPQ  .55 break

01[10:25] {Threei}  If holds  .60 

01[10:26] {Threei}  this is slow one

01[10:26] {Threei}  don't take it if you are a jittery type

01[10:28] {Threei}  watching FB for long

01[10:28] {Threei} Long Setup:  FB  .05 break

01[10:28] {Threei}  If holds  .95 

01[10:29] {Threei}  target 1:3

[10:29] {dino} clf hl l .27

[10:30] {cipher} out fwlt .89 -.02

[10:32] {ese} L btu avg .48

[10:33] {dino} if they can't take them down soon, up we go imo

[10:33] {cc_8} j2 Global Acquires Ziff Davis For $167MPosted on: Monday, November 12, 2012 - 10:13amj2 Global (NASDAQ: JCOM), the provider of business cloud services, . today announced that it has acquired Ziff Davis, Inc., a leading media company .

[10:33] {cc_8} Mid-Morning Market Update: Markets Continue Cautious Rally; Jefferies Acquired by Leucadia

01[10:38] {Threei}  noise from EU is deafening today

01[10:38] {Threei}  (EU) France Fin Min Moscovici: Germany and France have a strong relationship, there are no misunderstandings between the nations- Would like to see an agreement reached on Greece later tonight. - A decisive political agreement needs to be arrived at durning today's meeting. - We may not solve all of Greece's problems today, but today's outcome cannot be negative or neutral. - It is normal for Germany to study the French economy (*Note: over the weekend, there were reports that Germany Finance Minister Schaeuble said to have asked panel of German 'wise men' to conduct study of French economy to highlight lack of efforts to improve competitiveness). - Germany Fin Min Schaeuble: German Parliament needs to endorse any final decision on Greece.

01[10:38] {Threei}  no misunderstandings, eh

[10:39] {Les} negative or neutral for who?

[10:39] {Les} everyone gets it now

[10:39] {Les} saving German bankers, not greece

01[10:40] {Threei}  Greece is beyond salvation

01[10:40] {Threei}  save a box of matches or Greece, choice is clear

[10:42] {Les} 28 August 2013 earliest date for German federal elections

[10:42] {Les} god I hope Greece goes bust earlier or the jawboning is gonna be torture

[10:43] {dino} fwlt to .69

[10:43] {dino} clf to .51

[10:44] {cipher} out fwlt .73 +.20 took forever

[10:44] {dino} out clf +.24

[10:44] {dino} out fwlt +.16

01[10:46] {Threei}  wtg

[10:48] {dino} ty

[10:50] {nemo} does gild go momo

01[10:50] {Threei}  HPQ is valid again

01[10:51] {Threei}  especially if SPY loses .20

01[10:52] {Threei}  (GR) Austria Fin Min Fekter: Giving Greece more time will be 'difficult'; hard to envision taxpayers providing Greece more money- Not expecting a decision to come on Greece today

[10:53] {dino} no matter what greece defaults, so get on w/it

01[10:54] {Threei}  I wosh they did

01[10:54] {Threei}  wish

01[10:57] {Threei}  - US equities got an early bump as deal hunters stepped in to buy after last week's post-election swoon, however indices were back to the flatline within the first hour of trading. Note that fixed income trading is shut today in observance of Veterans' Day. Trading volumes are significantly below average. There is little economic data to trade off this morning, and there has been some anxiety about the Greek situation. The EU confirmed receipt of a technical report from the Troika but warned that no decision was expected on extending bailout conditions or releasing the next tranche of aid. EUR/USD was steady above the 1.27 handle

01[11:00] {Threei}  HPQ has no support in sight

01[11:02] {Threei}  let's cover first part here

[11:02] {thomcbell} lvs looks vulnerable too but too fast down here 

01[11:02] {Threei}  stop to .56

01[11:03] {Threei}  LVS is short consideration if bounces to .35 - .40 zone

01[11:03] {Threei}  let's scratch FB into this bounce

01[11:04] {Threei}  out .04

[11:06] {dino} fb lockup 11/14 i think

01[11:06] {Threei}  yes, about 750 mln shares

01[11:10] {Threei} Short Setup: LVS  .35 break

[11:12] {dino} cnqr hl l .00

01[11:12] {Threei} Short Setup: EXC  .85 break

01[11:12] {Threei}  If holds  .90 

01[11:18] {Threei}  another SPY leg down is coming

[11:20] {Les} JPM

[11:22] {thomcbell} y jpm and aapl 

[11:24] {ese} ya ...if that leg down comes am gonna have to exit btu even probably

[11:24] {Les} stop sweep exc?

01[11:25] {Threei}  ?

[11:25] {Les} 1 print of 31.14 and loooong tail

01[11:26] {Threei}  I see nothing like that

[11:26] {Les} really? I saw it in T&S

[11:26] {Les} definitely got a tail extending to .14

01[11:26] {Threei}  none on my chart

[11:27] {Les} strange. fusion shows it

01[11:27] {Threei}  anyone else got this?

[11:27] {scottie} not here

[11:27] {Will49} nor here

[11:29] {dino} jwn hl l .15 trig

[11:30] {Les} sent it to ya email

01[11:31] {Threei}  I believe you

[11:31] {dino} out cnqr .35, +.35

01[11:32] {Threei}  LVS stop .41

[11:35] {Les} got an admin message- please route away from SDOT/NYSE experiencing technical issues

01[11:39] {Threei}  HPQ, tried to cover second partial at .36, no takie

01[11:39] {Threei}  stop to .51 now

01[11:40] {Threei}  read this load of horse manure

01[11:40] {Threei}  IMF's Lipton: Fiscal adjustments worldwide should be conducted in 'growth friendly' ways- Affirms that if nothing is done on the US fiscal cliff the US will fall into a recession. - Central banks should be prepared to provide stimulus.

01[11:40] {Threei}  do they have any other word ijn their vocabulary but "stimulus"?

[11:40] {Les} growth friendly

[11:40] {Les} love it

01[11:41] {Threei}  it's like reflex in them,

01[11:41] {Threei}  when offered word "recession" they answer stimulu

01[11:41] {Threei}  growth - stimulus

01[11:41] {Threei}  wanna drink? - stimulus

[11:41] {Les} Skyfall

01[11:42] {Threei}  just think, this bunch one one-rail idiots runs the world

01[11:43] {Threei}  up to today I thought Lipton was a tea... now I know it's also synonym to idiot

[11:43] {Les} :)

[11:43] {cc_8} Mylan (NASDAQ: MYL) shares jumped 1.86% to create a new 52-week high of $26.35. Mylan's PEG ratio is 1.09.

01[11:46] {Threei}  The US Could Become World's Largest Energy Producer by 2017

01[11:46] {Threei}  who said we can't drill our way to energy independence?

[11:47] {nemo} not if Obama has anything to saya bout it

01[11:47] {Threei}  it happens on private lands

01[11:47] {Threei}  not on federal

[11:47] {nemo} no such thing as private property here any more Komrade

[11:48] {nemo} silly Vad

01[11:48] {Threei}  sorry Komrade

01[11:48] {Threei}  I don't know what I was thinjing

[11:48] {nemo} I"m having a problem staying awake today

01[11:48] {Threei}  I withdraw my stupid and inappropriate remark

[11:48] {nemo} Lumpin pisdah

01[11:48] {Threei}  and if you are not willing to forgive me, I'll self-depot to Gulag

01[11:49] {Threei}  deport

[11:49] {nemo} cut trees for the proletariat

01[11:49] {Threei}  and produce coal

[11:49] {nemo} That's what Zhukie used to say about his time there

[11:49] {dino} if they stop fracking the energy boom will die

[11:49] {nemo} I was cutting trees for the glory of the proletariat

[11:49] {dino} obummer against fracking

01[11:49] {Threei}  out second partial HPQ

[11:49] {ese} hey .....who are you calling a proletariet

[11:49] {nemo} I'm against humanity...too much Co2 and methane

[11:50] {ese} lol

01[11:50] {Threei}  not you ese, you are intelligencia

[11:50] {nemo} don't worry ese, your a pisdah

[11:50] {nemo} nice one Vad

[11:50] {ese} ok then.........!!!!

[11:50] {Les} hehehe

[11:50] {nemo} I'd rather be a lumpin

01[11:50] {Threei}  HPQ, aiming for .25 with final cover

[11:50] {ese} pisdah?

[11:50] {nemo} hehehehehe

01[11:50] {Threei}  although this thing looks to me bottomless'

[11:51] {nemo} JCP fur crissakes

[11:51] {ese} don't get angry es..........get even..........best moto ever

[11:51] {dino} bzh hl l .30

01[11:51] {Threei}  if I were in the mood for swing trade, this is the short I'd hold

[11:52] {ese} bzh?

[11:52] {ese} or jcp

01[11:52] {Threei}  11:50] {Threei} HPQ, aiming for .25 with final cover

01[11:52] {Threei}  [11:50] {Threei} although this thing looks to me bottomless'

01[11:52] {Threei}  [11:51] {Threei} if I were in the mood for swing trade, this is the short I'd hold

01[11:53] {Threei}  EXC, bid first partial .76

01[11:56] {Threei}  gosh LVS, you asre so annoying

01[11:57] {Threei}  covered part EXC

01[11:59] {Threei}  finally

01[11:59] {Threei}  first partial out LVS

01[11:59] {Threei}  that's three shorts working

01[11:59] {Threei}  day becomes much brighter

[12:03] {scottie} are you targeting 1:2 or 1:3 on those two trades Vad ?

01[12:05] {Threei}  HPQ 1:3

01[12:05] {Threei}  EXC 1:2

01[12:05] {Threei}  LVS 1:3

[12:05] {scottie} tks

01[12:08] {Threei}  strictly speaking, they had 5 cents stops, so it's double targets... but let's not get too technical :)

[12:09] {nemo} celg might be worth a short play here

[12:09] {nemo} but vwap just above 76

01[12:15] {Threei}  LVS second cover

[12:16] {thomcbell} me too - thanks for the entry - 

01[12:19] {Threei}  :)

[12:20] {dino} out jwn .55, +.40

[12:22] {scottie} exc +.16 ty Vad

01[12:22] {Threei}  yw

[12:23] {ese} spyders look like a double B to me.......possibly triple..it just need to break through .20

[12:24] {scottie} lvs +.19 ty

01[12:25] {Threei}  :)

[12:25] {nemo} spy iwm making vwap run spy 200 is .28

[12:26] {Les} cover quarter .66

01[12:28] {Threei}  covering EXC

[12:32] {Les} all covered ty sir

01[12:32] {Threei}  yw

01[12:32] {Threei}  very slow but productive

[12:33] {nemo} there's vwap for spy, iwm almost there, pivots next

[12:33] {ese} L BTU AVG .47

[12:35] {scottie} AEP s .05 if holds .10

[12:35] {scottie} ?

01[12:36] {Threei}  yup

[12:36] {ese} hmmmmmm make that .466642

[12:36] {ese} ya .47

01[12:36] {Threei}  lol

01[12:40] {Threei}  45% Think Marijuana Should be Legalized, 45% Disagree

[12:41] {Will49} that's progress right there

[12:42] {Les} .07 break TNA looks good in the rear view mirror

[12:42] {scottie} The remaining 10 % is so stoned they don't understand the question

[12:42] {Will49} lol

01[12:42] {Threei}  lol

01[12:42] {Threei}  The remaining 10 %: it was illegal??

[12:43] {scottie} lol

[12:47] {scottie} EXC s .60 ?

01[12:48] {Threei}  not sure, feels exhausted for the day

[12:48] {scottie} ok

[12:55] {cc_8} Mid-Day Market Update: Markets Slow Their Rally; JC Penney Spikes Lower

[13:18] {nemo} Here's the confluences:  http://www.freestockcharts.com?emailChartID=238239d4-a2cd-4ef8-bee7-c7b7f8f503b1

[13:19] {nemo} I'm outta here for the day

[13:19] {nemo} P&Q  Les, stop licking your ass

[13:19] {Les} :P

[13:22] {thomcbell} duh FB

01[13:23] {Threei}  yeah

01[13:23] {Threei}  my initial idea was:

01[13:23] {Threei}  everyone and their brother know about lockup date coming,

01[13:23] {Threei}  negative comments everywnere,

[13:24] {thomcbell} yy

01[13:24] {Threei}  no single person reacts on FB with anything other than "short!"

01[13:24] {Threei}  yet it holds decently, not making new lows

01[13:24] {Threei}  Clear trap ready to get closed

01[13:24] {Threei}  then it just lost chart formation for long

01[13:25] {Threei}  so I dumped it about breakeven, as SPY looked like breakdown (which was true at the moment)

01[13:25] {Threei}  then I just forgot about it, lol

01[13:25] {Threei}  if I watched, I'd get tempet by that .05 break again

[13:25] {scottie} Les, just got a print at 31.14 on EXC

01[13:25] {Threei}  at1 pm

[13:31] {dino} bzh stop -.21

[13:32] {Les} yeh 3 prints between .20 - .25 dunno what it means. almost all the same price

[13:32] {Les} between :20 & :25 I mean

01[13:34] {Threei}  it doesn't mean anything

01[13:34] {Threei}  prints out of bounds

01[13:34] {Threei}  could be late printfsd

01[13:35] {Threei}  could be erroneous prints

01[13:35] {Threei}  they don't influence antyhing

01[13:35] {Threei}  or signal anyuthing

01[13:35] {Threei}  sure, there isd always some consipracy theorist whi thinks it's market makers signal something to each other

01[13:36] {Threei}  guess what - he is a lipton

01[13:36] {Threei}  err, an idiot

[13:37] {ese} zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz.............dad............are we there yet...........................zzzzzzzzzzzzzzzzzzzzzzzzzz

[13:37] {Will49} just like at scholl eh ese?

[13:37] {Will49} school

[13:37] {ese} yup

[13:39] {ese} am deciding whether to take my .08 profit on1600shs of not

[13:39] {ese} or

[13:39] {ese} put the stop in at .39 and go to the bar

[13:40] {Will49} let's take a vote

[13:40] {ese} ok............go for it

[13:40] {dino} bar it is

[13:40] {Will49} bar by far

[13:41] {ese} too funny

[13:41] {ese} i'm buyin............if i sell it 112 bucks should do it

[13:44] {ese} hmmmmmm.....take away commisions........internet fees......news fees..........vads board fees.........house power.....mortagage............forget it..............i'm 200 in the hole...............ciphers' buyin

[13:45] {ese} make that vad..........your russian vodka for me vad.........make it a double......it's a day off

[13:46] {thomcbell} come on FB

[13:46] {thomcbell} really Vad 

[13:46] {ese} swear at it..............that really woks on this board

[13:46] {ese} works

01[13:46] {Threei}  I am beyond lost

01[13:46] {Threei}  swear at what?

[13:46] {ese} fb

01[13:47] {Threei}  what do we want from it?

[13:47] {ese} thats in your book isn't it?  When all else fails.........swear at it.........the market will take notice and it will move

01[13:48] {Threei}  we are what? long? short? what price?

[13:48] {ese} ummmmmmmmm

[13:48] {ese} short

[13:48] {ese} companies still run by an idiot

01[13:49] {Threei}  yes but it doesn't mean it can't go up

[13:49] {ese} true

01[13:49] {Threei}  it squeezes overconfident shorts that thought those unlocked shares mean certain drop

[13:49] {ese} now i'm confused..........we all hate fb don't we

01[13:50] {Threei}  but if something is so ob vious and everyone knows it, there is no money in it

01[13:50] {Threei}  information-price divergence

[13:50] {ese} true oce again

01[13:51] {Threei}  (GR) ECB expands assistance to Greece banks through accepting more types of securities as collateral -

01[13:51] {Threei}  like, store receipt for pencils?

[13:51] {Will49} olives

01[13:51] {Threei}  as good collateral as any when it comes to Greek bank

[13:53] {ese} forgot to tell you.........had an audience with the liuetenant gover of British Columbia on Friday..........she loved my choir...broke out in tears........wanted to talk to me about the piece.......it's called "Love and Honor"

[13:53] {Will49} honour

[13:53] {ese} y

01[13:54] {Threei}  don't listen to will ese, next thing you know he makes it spell "louve"

01[13:54] {Threei}  louve and honour

01[13:54] {Threei}  louve aund honour

[13:54] {Will49} me... keeper of the Queen's english

01[13:55] {Threei}  what can I say ese... dp also breaks down in tears when hears about your group

01[13:56] {Threei}  probably for the different reason though

[13:56] {Will49} it's the girls for dp

[13:56] {Les} jolly good Will

01[13:56] {Threei}  can you blame him?? :)

[13:57] {ese} am outta here stop is in at .39.......catch ya tomorrow

[13:57] {Will49} only two drinks now....

01[13:57] {Threei}  take care ese... but Iam confused even more

01[13:58] {Threei}  .39, with FB trading at .77?

01[13:58] {Threei} Short Setup: FB  .75 break

01[13:58] {Threei}  If holds  .85 

[13:59] {thomcbell} agree with this - u typed it quicker than me 

01[14:03] {Threei}  The IEA predicts the US will be producing 11.1 million barrels per day by 2020, compared with 10.6 million from Saudi Arabia.

01[14:03] {Threei}  any chance I could stretch my fuel tank, to fill up in 2021 next time?

[14:04] {Les} sure. walk

01[14:05] {Threei}  my subrub is larger than your whole country

[14:05] {Les} heheh

01[14:05] {Threei}  suburb

01[14:06] {Threei}  no go

01[14:10] {Threei}  wow

01[14:10] {Threei}  NYSE volume 137M shares, about 58% below its three-month average

[14:12] {dino} that explains a lot

[14:12] {dino} dhi hl l .01

[14:21] {dino} trlg

[14:21] {Will49} Mitt's underware company

01[14:22] {Threei}  takeover chatter

[14:22] {dino} ty

[14:23] {Will49} apologies if I offended anyone

[14:24] {dino} relax

01[14:24] {Threei}  will, we are equal opportunity disresopecters

01[14:25] {Threei}  we do not discriminate who we disrespect

[14:25] {Will49} tks guys

[14:25] {dino} with very thick skin

01[14:25] {Threei}  it's only fair

01[14:25] {Threei}  my main regret about Mitt losing is that he didn't get his chance to earn my disrespect

[14:25] {Will49} lol

01[14:26] {Threei}  it's boring to disrespect the same politician for 8 years

01[14:27] {Threei}  als, I have this glimmer of hope (only glimmer, mind you),

01[14:28] {Threei}  that not being tied by another election prospects and thinking of legacy only, maybe Obama can overcome his ideolgical restraints and move to the center and actually do some right things to do

[14:28] {dino} don't hold your breath

[14:28] {Will49} now that is HOPE

[14:28] {dino} he thinks he's god now

01[14:28] {Threei}  after all, he has access to actual data and can't remain blind to the crash coming

01[14:29] {Threei}  well... as I said... glimmer only :)

[14:29] {Will49} maybe he'll try to get contitution changed so he can run again :)

[14:29] {Will49} constitiution

[14:29] {dino} reverse your thinking...the more people out of work and receiving govt help, the more chance they vote democrat. it's a master plan 

01[14:30] {Threei}  well, fanatics already cahnt "michelle 2016"

01[14:30] {Threei}  chant

[14:30] {dino} so bad = good for his thinking

Session Close: Mon Nov 12 14:30:57 2012

Session Start: Mon Nov 12 14:30:57 2012

Session Ident: #discussions

02[14:30] * Disconnected

Session Close: Mon Nov 12 14:30:57 2012

Session Start: Mon Nov 12 14:31:17 2012

Session Ident: #discussions

03[14:31] * Now talking in #discussions

01[14:31] {Threei}  I know dino... you couldn't let me live 5 min in fanatsy world, could you

[14:32] {dino} never

[14:32] {dino} they should re-name their party the "hand-out" party

01[14:38] {Threei} Short Setup: FB  .80 break

01[14:38] {Threei}  I don't like to be stubborn, but the setup is too good

01[14:42] {Threei}  it just has to be good for 1:2 at least

01[14:52] {Threei}  sigh

01[14:53] {Threei} Short Setup: SLW  .35 break

01[14:53] {Threei}  If holds  .45 

[14:58] {dino} ypf

01[14:59] {Threei}  Invalidated  

01[15:10] {Threei} Short Setup: RAI  .60 break

01[15:20] {Threei}  (US) S&P's Chambers: Any temporary agreement on US fiscal issues would not substantially change the ratings outlook; a 'grand bargain' is necessary for the US rating- Calls on authorities to come to a long term deal to stabilize the debt to GDP ratio in order to affirm rating - A lasting deal needs revenue gains and spending cuts - Notes that the US cannot grow out of fiscal issues }- Affirms that going off the fiscal cliff would not automatically lead to a downgrade

01[15:20] {Threei}  every shmack has an opinion

01[15:21] {Threei}  (GR) ECB said to have denied it will broaden collateral for Greece ELA; collateral eligibility not changed

01[15:21] {Threei}  oops... no pencil receipts

[15:21] {cc_8} Microsoft (NASDAQ: MSFT) CEO Steve Ballmer told French daily Le Parisien that sales of the company's first tablet "are starting modestly." .

[15:21] {Will49} olive crop is safe

[15:22] {cc_8} Shares of beaten down biotech name Dendreon (NASDAQ: DNDN) are higher during Monday's trading session after the stock was initiated at Needham with a Buy rating.

01[15:22] {Threei}  modestly eh

01[15:22] {Threei}  euphemism for "no one wants our tablet"

[15:22] {cc_8} Shares of beaten down retailer Best Buy (NYSE: BBY) are higher on Monday after the company named retired Williams-Sonoma (NYSE: WSM) executive Sharon McCollam as its new chief financial officer

[15:28] {Les} If ever you were curious - the origins of Duff beer

[15:28] {Les} http://www.independent.co.uk/arts-entertainment/music/features/duff-mckagan-the-man-who-went-from-guns-n-roses-to-accountancy-8304984.html

01[15:28] {Threei}  I am only urious why no single trade works after lunch

01[15:29] {Threei}  curious

[15:29] {Les} urious works for me

[15:30] {Will49} urious=pissed off

[15:30] {thomcbell} and he went from almost dying from drugs to one who treats his body like a temple

[15:30] {Les} curious/furious... good one will

[15:30] {Will49} :)

[15:31] {Les} RAI is 15 min bubble breaker to the downside

[15:31] {Will49} is that good?

[15:31] {Les} at .68 it returned inside BB's

[15:31] {Les} like a rubber band Will, stretched in the drop from .80. It 'snapped back'

[15:32] {Les} whether it holds and drops again....?

[15:32] {Will49} i see

[15:32] {Will49} i think

[15:32] {Will49} therefore i am

01[15:34] {Threei}  grrr

[15:34] {Will49} grrr=pissed off

[15:34] {Les} hehehe

[15:34] {Will49} kidding Vad

01[15:34] {Threei}  lol

01[15:35] {Threei}  last try for today

01[15:35] {Threei} Short Setup: JCP  18 break

01[15:35] {Threei}  If holds  .10 

01[15:41] {Threei}  wtf

01[15:45] {Threei}  die JCP

01[15:49] {Threei}  holding by fingertips

01[15:51] {Threei}  Magnitude 6.0 quake reported in the Gulf of Alaska

[15:51] {Will49} OK everybody...take the rest of the day off :)

01[15:51] {Threei}  9 min

[15:51] {Les} it's coming for you next Vad

01[15:51] {Threei}  and unfinished trade

[15:52] {Will49} I'm ducking and covering

01[15:52] {Threei}  well, this one actually moved farther from us

[15:52] {Will49} earthquake training

[15:52] {Will49} :)

01[15:52] {Threei}  previous one was farily close

01[15:52] {Threei}  new low

[15:52] {Les} one, two, three, four, make sure you've locked your doooor.

01[15:53] {Threei}  stop to .06

01[15:55] {Threei}  newer and lower low

01[15:56] {Threei}  1:1

01[15:56] {Threei}  woohooo

01[15:57] {Threei}  not too delighted, slightly negative anyway

[15:58] {Will49} TTFN guys

01[15:58] {Threei}  thank you all

[15:58] {Les} yeh good risk management control for me today. lessons well learned

01[15:58] {Threei}  have a good evening, we will get them tomorrow

[15:58] {Les} http://tinyurl.com/d3dv7mk

[15:58] {Les} damn will, too fast

[15:58] {scottie} gn

[15:58] {Les} ciao all

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