Nov 13 21012

Slightly positive but still not very happy with market read over last few days. Getting the direction mostly right but timing on entries is off. There were a few quite good ones today though.

Session Time: Tue Nov 13 00:00:00 2012

[08:44] {dino} gm

01[08:48] {Threei}  morning dino

[09:01] {scottie} good morning

01[09:01] {Threei}  scottie :)

[09:01] {_traderxxx} good morning

01[09:02] {Threei}  traderxx :)

[09:06] {nemo} gap down day...yahoo

01[09:08] {Threei}  mr. Lipton quickly becomes my favorite:

01[09:08] {Threei}  (EU) IMF's Lipton: Eurozone uncertainty is weighing on markets- Greece has made heroic effort - Ireland and Portugal have both complied well but still face issues

01[09:09] {Threei}  47% Fear Government Won�t Do Enough to Help Economy

[09:17] {Beau} good morning

01[09:17] {Threei}  beau :)

[09:18] {nemo} mmmhhhh...bottom falling out today?

01[09:18] {Threei}  so far, looks that way

[09:18] {Les} really nemo you need to talk pottie with us?

06[09:19] * nemo slaps his forhead in frustration

06[09:19] * nemo thinks, "Frickin' musicians!!"

01[09:20] {Threei}  les is musician?

[09:20] {nemo} oh jeez...back to bed, see what happens when I don't drink

[09:20] {Will49} gm

[09:21] {nemo} Funny was thinking to myself ese has become Les

01[09:21] {Threei}  will :)

01[09:24] {Threei}  http://goo.gl/qP7Qn

[09:24] {cipher} gm

01[09:25] {Threei}  cipher :)

01[09:25] {Threei}  HPQ, yesterday's low is .30

01[09:26] {Threei}  if gives us some consolidation and breakdown, it's a ride down

01[09:29] {Threei} Short Setup: FCX  .15 break hl

01[09:29] {Threei}  If holds  .25 

[09:30] {nemo} might test 200 this morning

[09:30] {nemo} iwm in serious volume vacuum

[09:30] {nemo} spy below volume support

[09:31] {nemo}  Qs coming in to volume support

[09:31] {nemo} HD ripping

01[09:32] {Threei} Short Setup: HPQ  .30 break

01[09:32] {Threei}  If holds  .40 

01[09:33] {Threei}  trail FCX to .21

01[09:33] {Threei}  meh

01[09:34] {Threei}  couple cents to 1:1

01[09:35] {Threei}  HPQ is not a scalp

01[09:36] {Threei} Short Setup: JCP  .80 break

[09:36] {nemo} inflextion point hd

01[09:36] {Threei}  If holds  .90 

01[09:36] {Threei}  1:1

[09:37] {scottie} of course, got fcx and missed jcp :(

01[09:38] {Threei}  let's install moratorium i=on frown faces in first 30 min

[09:38] {nemo} gs strenthening careful on jcp

[09:38] {scottie} :)

[09:39] {Les} didn't get all m y shares covered on HPQ at .20

[09:39] {Les} shares put in for order

[09:39] {nemo} Odds are spy fights it's way back to the 200 at 138.28

[09:40] {nemo} gs still strenthening as are finnies overall

01[09:40] {Threei} Short Setup: LVS  43 break

[09:40] {Les} I see FAS in your shaded no mans land nemo

01[09:40] {Threei}  If holds  .10 

[09:40] {nemo} that's vacuum area

[09:41] {nemo} light blue=vacuum  light red=heavy volume area

[09:42] {Les} k ty

01[09:42] {Threei}  no go

[09:43] {dino} crus gap fill aug

01[09:43] {Threei} Long Setup:  CAT  .90 break hl

01[09:43] {Threei}  If holds  .80 

[09:44] {dino} crus hl l .60

01[09:44] {Threei}  1:1

[09:45] {nemo} longs safe until 138.28 on spy

[09:45] {nemo} imo

[09:45] {nemo} imho

[09:46] {nemo} this drop below the 200 had the bears salivating...so an application of a 60 grit closed fist glove

[09:47] {Les} yeh

[09:48] {dino} fwlt hl l .35

[09:49] {dino} trox hl l .50

[09:49] {scottie} cat +.19 tks :)

01[09:49] {Threei}  :)

[09:49] {dino} gj

[09:50] {robbers} wtg

[09:50] {nemo} careful on entries here, we touched the 200 and filled the gap

01[09:50] {Threei} Short Setup: HD  .10 break

01[09:50] {Threei}  hl

01[09:50] {Threei}  If holds  .20 

[09:52] {dino} out trox .80, +.30

01[09:52] {Threei}  wtg

01[09:53] {Threei}  rinse

[09:53] {nemo} hey cipher, watch 51.50 level KORS

[09:54] {cipher} K

01[09:54] {Threei}  &^$#)(&*

[09:54] {nemo} wow, spelling really off on that one

[09:54] {nemo} it's"  (*&^$&&!!!

[09:55] {Les} s hd .05 v small shares

[09:55] {dino} wpz hl l .92

[09:57] {Les} stopped -.15

01[10:00] {Threei}  A theater in Spain is avoiding higher taxes on theater tickets by selling carrots for $16 apiece with a free ticket

[10:00] {nemo} Les, you shorted off of the high, not the lower high on a veeeerrrrry strong stock.  It hadn't shown you it was done

[10:01] {Les} yes saw that

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

[10:01] {scottie} AGNC s .50 ?

[10:01] {nemo} Good thing you weren't the point man when you were in the military

01[10:01] {Threei}  If holds  .25 

01[10:01] {Threei}  AGNC, looks right

[10:02] {Les} I suspect HD might be afternoon short

[10:02] {dino} out wpz ,22, +.30

[10:02] {cipher} kors s .55

01[10:04] {Threei}  trail LVS to .21

01[10:05] {Threei} Long Setup:  CAT  .70 break

[10:05] {cipher} cov 1/2 kors .10 +.45

01[10:05] {Threei}  Invalidated  

[10:05] {cipher} cov rest kors .01 +.54 thx nemo

01[10:05] {Threei}  good one

01[10:07] {Threei}  (US) Moody's issues commentary on 'fiscal cliff'; will wait to make a decision on US sovereign rating if the fiscal cliff is triggered- Would likely not wait until after 2013 to resolve the "Negative" outlook on the US (current rating at AAA; outlook Negative) - US cannot grow itself out of the current deficit issues - Deal on fiscal cliff must show that debt will be a downward trajectory - Expecting a deal to be reached at some point in 2013

01[10:09] {Threei} Long Setup:  RIG  .80 break hl

01[10:09] {Threei}  If holds  .70 

01[10:11] {Threei}  (EU) European Parliament may reportedly end the talks on a 2013 budget without a deal - financial press

01[10:11] {Threei}  who needs budgets

01[10:11] {Threei}  US lives without them for 4 years

[10:12] {nemo} indexes moving but not much in persistence in stocks

01[10:13] {Threei}  (US) Chamber of Commerce: Washington is 'playing with fire' through allowing talks on fiscal cliff to drag

01[10:14] {Threei}  Washington: Chamber of Commerce chairman is reassigned to Syria

[10:14] {Les} lol

01[10:15] {Threei}  RIG 1:1

01[10:21] {Threei}  watching FB for long

01[10:24] {Threei} Long Setup:  FB  .90 break

01[10:25] {Threei}  If holds  .85 

01[10:26] {Threei}  half out .99

01[10:27] {Threei}  stop to .89

01[10:30] {Threei}  scalpers win

01[10:33] {Threei} Short Setup: HD  .90 break

01[10:33] {Threei}  hl

01[10:33] {Threei}  If holds  64 

01[10:35] {Threei}  not yet

[10:38] {scottie} rig +.20 tks vad

[10:40] {Will49} what does "not yet" mean?

01[10:40] {Threei}  not ready to drop yet?

01[10:40] {Threei}  yw scottie, you are a patient one

[10:41] {scottie} stopped breathing for 25 minutes

01[10:41] {Threei}  how's that blue look?

[10:42] {scottie} slowly getting back to normal now

01[10:42] {Threei}  lol

[10:42] {scottie} Are you still in HPQ ?

01[10:42] {Threei}  yes

01[10:42] {Threei}  grrr HD

01[10:43] {Threei}  got away

[10:43] {Will49} got a .12 scalp tks Vad

01[10:43] {Threei}  :)

[10:43] {Les} shorted it for .18 ty

01[10:43] {Threei}  yw... I missed it

[10:44] {Will49} get with the program :)

01[10:44] {Threei}  sorry

[10:44] {Les} big volume bar at .85...

01[10:44] {Threei}  I'll try

[10:44] {Les} air below that

[10:44] {cc_8} Stocks Hitting 52-Week LowsPosted on: Tuesday, November 13, 2012 - 10:19amVodafone Group Public Limited Company (NASDAQ: VOD) shares lost 3.24% to create a new 52-week low of $25.54.

[10:50] {dino} out fwlt .63 ave, +.28

01[10:50] {Threei}  wtg

[10:51] {scottie} VOD l .80 ?

[10:51] {dino} ty

01[10:51] {Threei}  I'd prefer .75 short scottie

[10:51] {scottie} ok tks

[10:52] {cc_8} JC Penney Shares Continue Slide Despite Ackman DefensePosted on: Tuesday, November 13, 2012 - 10:34am  Shares of J.C. Penney (NYSE: JCP) traded lower on Tuesday, down a bit more than one percent,

01[10:53] {Threei}  insanity spreads all over the globe faster than plague:

01[10:53] {Threei}  Peugeot SA Said to have stopped talks with GM over a strong relationship due to talks with France on a potential bailout and its conditions

[10:54] {nemo} we'll probably rally to the weekly pivot, maybe not today, but gotta' creat range...traders gotta' eat

[10:54] {Les} nice one scottie .81 to .97

[10:54] {Les} ty

[10:54] {scottie} ty .80 to .00

[10:54] {nemo} weekly pivot spy 139.75ish

[10:56] {Les} oh god i fu&%ed up big time

01[10:56] {Threei}  I am lost

01[10:57] {Threei}  .81 to .97?

[10:57] {Les} bought VOD at .81 sold HD at .97 frrrrik

01[10:57] {Threei}  hmmm

[10:57] {nemo} wow

[10:57] {nemo} Hey Les, stay away from power tools

01[10:57] {Threei}  sold short or closed long?

[10:58] {Les} entered order and boy returns home crying with busted lip

[10:58] {Les} its ok its sorted

[10:58] {nemo} kill the kid

[10:58] {Les} hehehe

[10:58] {Les} still long VOD

[10:58] {Les} 2 trade screen setup...

01[10:58] {Threei}  good news is, HD is not really out of money

01[10:59] {Threei}  and VOD is positive

[10:59] {nemo} Mmmmhhhh, if Texas secedes, might be worth moving there...They'll clean up the border...Of course the UN will show up

01[10:59] {Threei}  bad news is... well, you know

01[10:59] {Threei}  yeah right

01[11:00] {Threei}  these secession talks are so childish

01[11:00] {Threei}  we didn't get what we wanted in election, waaaa

01[11:01] {Threei}  next time go f***ng vote maybe?

[11:01] {Beau} nemo, gov. oops will welcome you with a cup of tea

[11:01] {Les} someone gave my boy his old skateboard today. Guess he's learnt his lesson

01[11:02] {Threei}  3 million fewer republicans went to vote this time than in 2008

01[11:02] {Threei}  so, shut up and don't complain - you get what you voted

[11:02] {Will49} he's not talking to you TBell

[11:03] {Les} really?

[11:03] {Les} what? they thought they had it in the bag with Romney?

[11:03] {Les} or team Romney was disorganised?

01[11:03] {Threei}  my understanding is, he was too moderate for them

01[11:03] {Threei}  they wanted someone more conservative

[11:04] {Les} was Ryan supposed to be that man?

01[11:04] {Threei}  never mind that someone more conservative would stand zero chance with independents

[11:04] {Les} sold at .90 paper trade scale out 

[11:04] {Les} ty scottie

01[11:05] {Threei}  how idiotic must one's position be that instead of moderate conservative gave them far left?

[11:07] {nemo} bell curve applied to intelligence =60% plus are morons by genetic makeup

[11:07] {nemo} I mean, look at Les...

[11:07] {scottie} yw 

[11:07] {scottie} les

01[11:08] {Threei} Long Setup:  CAT  .15 break hl

01[11:08] {Threei}  If holds  .05 

01[11:11] {Threei}  IMO, if republicans don't do away with radical social conservative element, they'll lose elections every single time. Mainstream moved to fiscally conservative (barely), socially liberal

[11:12] {cipher} nemo kors

[11:13] {nemo} yeah, dropped 51.50 inflection...oh oh

[11:14] {cipher} kors l.55

[11:14] {nemo} depending on market, like to see it make it back there and see what it does

[11:17] {cipher} out kors -.15

[11:17] {cipher} kors l .30

[11:18] {thomcbell} short setup qcom 62.58 break if holding 62.68

[11:20] {Beau} vad didn't CAT trigger with 2 bars at .16?

01[11:20] {Threei}  it did

[11:22] {scottie} AGNC s .30 ?

01[11:22] {Threei}  chart is right but need SPY tofinally reverse

[11:22] {nemo} spy short worth a try here

[11:23] {Les} .70 is VWAP on HD. new setup coming

[11:23] {thomcbell} target on qcom is 1:2

[11:24] {cipher} out kors .69 +.39

01[11:24] {Threei}  (GR) France President Hollande: Greece has earned the support from its official creditors and deserves aid- Notes that France needs to cut �50B in spending over the coming 5 years

01[11:24] {Threei}  "It aint gotta do nothin' with deservin' "

[11:25] {nemo} "Deservin' ain't got nothin' to do with it."

[11:25] {Les} what are you 2? cojoined twins?

[11:26] {scottie} in .29

[11:26] {cipher} s kors .80

[11:27] {nemo} wow, Les used a two syllable word

[11:27] {Les} 2 and ? are two seperate symbols

06[11:27] * nemo faints

[11:28] {Les} :P

[11:29] {scottie} half out

[11:30] {dino} took all morning, but out crus .90, +.30

[11:31] {cipher} stopped kors -.22

01[11:35] {Threei} Short Setup: FB  .70 break

01[11:35] {Threei}  If holds  .80 

[11:36] {Les} vwap is .85 might go there

[11:37] {thomcbell} qcom 1:1

01[11:38] {Threei}  you tamed it tbell

01[11:38] {Threei}  I hate that animal

[11:38] {thomcbell} crazy move off open with the rest of the market 

[11:39] {scottie} half out HPQ

[11:41] {scottie} out AGNC + .19

01[11:41] {Threei}  wtg

[11:41] {scottie} ty

01[11:41] {Threei}  loss of .20 should send HPQ into vortex of despair

[11:43] {scottie} wow agnc

[11:45] {thomcbell} qcom flat on balance

01[11:45] {Threei} Short Setup: FB  .80 break

[11:46] {Les} FCX flirting with 39

01[11:47] {Threei}  invalidated again

01[11:47] {Threei}  good boy HPQ

[11:54] {Les} where is the call for shorting HPQ?

[11:55] {Les} SLW long .50?

01[11:57] {Threei}  I'd prefer .40 short

[11:57] {Les} k

01[11:57] {Threei}  [09:32] {Threei} Short Setup: HPQ .30 break

01[11:57] {Threei}  [09:32] {Threei} If holds .40

01[11:57] {Threei}  09:25] {Threei} HPQ, yesterday's low is .30

01[11:57] {Threei}  [09:26] {Threei} if gives us some consolidation and breakdown, it's a ride down

[11:58] {Les} ok thanks no wonder i couldn't find it

[12:00] {Les} s slw .39

[12:03] {thomcbell} lvs very heavy

[12:05] {Les} HPQ short .16?

01[12:05] {Threei}  .20 looked better

[12:06] {Les} ..16 is half pivot support

[12:09] {Les} GDX

[12:11] {Les} slw stop

[12:18] {cc_8} Tesla Shares Tick Higher as CEO Elon Musk Speaking on CNBCPosted on: Tuesday, November 13, 2012 - 11:59am

[12:20] {scottie} HPQ +.18 tks Vad

[12:22] {dino} gotta hop for hour or so

01[12:22] {Threei}  :)

01[12:22] {Threei}  I am going to try for more

[12:22] {Les} took it short .15 half out .10 let's see if we can get to 13.00

[12:26] {Les} nice descending channel on HPQ daily. Sitting on lower channel. wonder if it could cascade into capitulation

01[12:27] {Threei}  remember I said yesterday, if I were in any mood for swing trades, this would be the one

01[12:28] {Threei}  this thing is on death watch

[12:28] {thomcbell} sad really

[12:28] {thomcbell} qcom is strong as 10 men 

01[12:31] {Threei}  crap

01[12:31] {Threei}  had in mind CAT short at .80 and completely forgot about it

[12:32] {Les} shorted miners too early

01[12:32] {Threei} Short Setup: FB  .80 break

01[12:33] {Threei}  If holds  .90 

[12:33] {nemo} kors

01[12:40] {Threei} Short Setup: CAT  .40 break

[12:44] {Les} fb

01[12:44] {Threei}  can't pinpoint the pattern on it

01[12:45] {Threei}  3 invalidations

[12:45] {Les} vwap is .86

01[12:47] {Threei}  frikin cat

[12:49] {nemo} this area could be the bottom , with caveat that spy vwap is at .43

01[12:49] {Threei}  10% Rate Congress� Job Performance As Good or Excellent

[12:50] {nemo} IWM SPY QQQ and Finnies have hit confluence support levels

[12:53] {Les} 15 min MACD needs to turn. not buying breaks yet

01[12:53] {Threei}  gotta change some things... not really happy with my read over kast few days

01[12:53] {Threei}  nor with typing... kast = last

[12:58] {Les} you need to do a Costanza

01[13:02] {Threei}  ok

01[13:02] {Threei} Long Setup:  FB  .90 break

01[13:02] {Threei}  that's costanza trade

01[13:05] {Threei}  target 1:3

01[13:05] {Threei}  hype about giant lockup expiration continues and become hysteric

01[13:05] {Threei}  perfect squeeze setup

01[13:06] {Threei}  and when this kind of squeezes start...

01[13:06] {Threei}  1:3 may even be too conservative

01[13:06] {Threei}  1:1

[13:06] {Les} oh you beautiful thing

06[13:07] * Threei slaps Les around a bit with a life-sized statue of George Costanza

[13:07] {Les} I will have to watch entire series one day

06[13:08] * Threei slaps nemo around a bit with a life-sized statue of Newman

01[13:08] {Threei}  you so do

01[13:08] {Threei}  it's classic, one can't go through life without seeing it

[13:09] {Les} quarter .07

[13:09] {Les} last for .20

[13:11] {thomcbell} nice one FB

[13:11] {Will49} tks Vad for fading yourself :)

[13:11] {Will49} +.16

[13:11] {Les} hehehe

01[13:11] {Threei}  not exactly, lol... remember this idea from yesterday?

01[13:12] {Threei}  it was formikng shiort setups three or four times today, and none has triggered

[13:12] {thomcbell} i bought the stupid thing under 19 

01[13:12] {Threei}  so long was in order

[13:13] {Will49} ok i'm sold

[13:13] {Will49} comvenced

01[13:13] {Threei}  well, who is stupid now, tbell :)

[13:13] {Will49} convinced

01[13:13] {Threei}  willl... my typing is highly contagious

[13:13] {Will49} no kidding

[13:14] {Will49} i foloow everything you do Vad

[13:14] {Will49} follow

[13:14] {Will49} so stay married OK?

01[13:14] {Threei}  then you might wanna go easy on bacon

[13:14] {Will49} love bacon

01[13:14] {Threei}  my consumption exceeds mortal norms

01[13:15] {Threei}  or, norm of mortals

01[13:15] {Threei}  it's purely ethical thing for me, you see: http://goo.gl/cKGyV

[13:16] {Will49} lol

[13:17] {thomcbell} short setup clne - 12.15 break if holding 12.25

01[13:22] {Threei}  lol, who would expect this:

01[13:22] {Threei}  (GR) Greece PM Samaras: Affirms Greece is aiming to get more than the �31B tranche; next step is to pursue a path to growth

01[13:23] {Threei}  (CA) Canada govt to push back balanced budget by one year, expects to generate budget surplus in 2017- Budget deficits are expected to widen more than anticipated, budget deficit for 2013 to be C$26B v $21.1B prior target. - Budget is being impacted by falling commodity prices

[13:28] {Les} china flu passing around I c

[13:30] {Les} 2nd half HPQ stopped

[13:30] {thomcbell} clne still valid - in fact i like it more

[13:39] {Will49} CLNE not on short list

[13:40] {scottie} msft l .30 ?

[13:40] {thomcbell} ok sorry

01[13:41] {Threei}  chart is right

[13:41] {thomcbell} yes i like the setup

01[13:52] {Threei} Long Setup:  CAT  .35 break

01[13:53] {Threei}  If holds  .25 

01[13:53] {Threei}  and yes, it's Costanza-insipred

01[13:56] {Threei}  cool... a woman tried to run over her husband after the srgument about an election

01[13:57] {Threei}  that's what I call politically passionate

01[13:58] {Threei}  actually ran over him

01[13:58] {Threei}  http://www.kansas.com/2012/11/13/2566717/arizona-police-woman-runs-over.html

01[14:00] {Threei}  *(US) OCT MONTHLY BUDGET STATEMENT: -$120B V -$113BE- Receipts: $184B v $163.07B y/y - Outlays: $304B v $261.54B y/y

01[14:00] {Threei}  we are firmly on track to that 20T, beau :)

01[14:01] {Threei}  ~100B monthly deficit, x12 months = 1.2T annually

01[14:01] {Threei}  x 4 years = 4.8T... I'll give you 0.8T slack

01[14:01] {Threei}  16.2T as of now

[14:05] {scottie}  PMT l .50 ?

01[14:05] {Threei}  yup

[14:08] {scottie} in .51

[14:15] {scottie} out -.14

[14:23] {Les} s hd .69

01[14:23] {Threei} Short Setup: FB  .90 break

01[14:24] {Threei}  If holds  .95 

[14:30] {Les} I love HD

[14:31] {Will49} Vad's nemisis

[14:31] {Les} cover .50 continue partialling on paper 63 is target

01[14:31] {Threei}  FB invalidated again

01[14:34] {Threei} Short Setup: HD  .60 break

01[14:34] {Threei}  If holds  .65 

01[14:35] {Threei}  tight stop, aggressive entry for .50 break

01[14:36] {Threei}  half out

[14:36] {Les} yeh baby

01[14:37] {Threei}  now if loses .50 we have a chance for a quick cascade

[14:37] {Les} waterfall

[14:38] {dino} wow bidu

01[14:40] {Threei}  scalpers win

[14:45] {Les} China stocks don't appear to be taking the lead following AAPL...

[14:47] {dino} sbs drop

01[14:47] {Threei}  grrr

01[14:47] {Threei}  look at CAT

01[14:47] {Threei}  it laughs at me today

[14:47] {nemo} cat scratched are ya'?

[14:47] {dino} hl l .25

[14:48] {dino} out .71, +.46

[14:49] {nemo} bounced right at 200, which is at the breakout level

[14:49] {Les} nice play. ugly chart

[14:49] {dino} say that and bgt

[14:49] {dino} saw

[14:49] {dino} sold too soon tho

[14:50] {nemo} well, profits when bungi jumping

[14:50] {dino} exactly

[14:50] {nemo} you either make money or squash your melon

[14:51] {dino} sort of the bear theory....some days you eat the bear, some days the bear eats you

[14:56] {Les} http://tinyurl.com/d5llcod

[14:56] {Les} Will there's  a record of that bubble busting intrest of mine

[14:56] {Les} HD just fit the profile

[14:58] {Les} speaking of which, forgot about JCP from yesterdays close

[14:58] {Will49} Very colourful!

[14:59] {Les} need to log a couple of hundred for validity or otherwise

[15:00] {cc_8} One of 2012's Worst Performers, Molycorp, Hit by DowngradePosted on: Tuesday, November 13, 2012 - 1:48pm  Shares of Molycorp (NYSE: MCP) continued to move lower on Tuesday, trading down over four percent. Analysts at Morgan Stanley opted to downgrade the stock to Equal-weight, noting that the ongoing SEC investigation was an overhang on the price of shares.

01[15:07] {Threei} Short Setup: BIDU  99 break hl

01[15:07] {Threei}  If holds  .15 

[15:09] {nemo} wow, vad calling a BIDU trade

[15:09] {nemo} is it 12/21?

01[15:10] {Threei}  stop .11

01[15:10] {Threei}  2 cents to 1:1

[15:10] {nemo} it loses this low, you're good for a coupla bucks at least

01[15:10] {Threei}  should drop again here

01[15:10] {Threei}  1:1

01[15:12] {Threei}  7% Think U.S. Is Winning War on Drugs

01[15:12] {Threei}  what drug they are on?

[15:12] {Les} those'd be the one's that didn't respond to yesterday's poll on drug legalisation

[15:12] {nemo} look for spy bounce

01[15:12] {Threei}  and 10% think Congress does excellent job...

[15:13] {Les} coincidence?

01[15:13] {Threei}  can't be

01[15:13] {Threei}  there must be some level of drugs in blood that causes this kind of severe delusions

01[15:18] {Threei}  now HD broke .50

[15:18] {Les} forgot about HD

01[15:20] {Threei} Short Setup: AVP  .05 break

01[15:21] {Threei}  If holds  .10 

[15:24] {thomcbell} aig may sell rest of its stake i just heard 

[15:24] {thomcbell} might watch it for some craziness

01[15:27] {Threei}  feels like another leg down in the market

01[15:27] {Threei}  with SPY losing 138

01[15:27] {Threei} Short Setup: WFC  .05 break

01[15:38] {Threei}  perfect formation to drop from here, SPY

01[15:38] {Threei}  reverse, drop fast, break 138 and die

[15:38] {nemo} spyhas the 200 overhead

01[15:39] {Threei}  AMD Said to have hired an advisor to pursue strategic options which may lead to sale of company or divestiture of patents

01[15:41] {Threei}  good boy, now lose that 138

01[15:42] {Threei}  all I am saying is not an opinion, SPY - it's instructions

01[15:42] {Threei}  there... proceed as you are told

[15:51] {Will49} dump dump dump

01[15:54] {Threei}  ok WFC, you8 know my real idea was 32 break... so lose it in a hurry

01[15:54] {Threei}  and die

01[15:55] {Threei}  from the look of daily, that oughtta be good

[15:56] {Les} coverd flat

01[15:57] {Threei}  saved by the bell... covered .02

01[15:58] {Threei}  more of Costanza tomorrow I guess

01[15:58] {Threei}  thank you all

01[15:58] {Threei}  have a good evening

[15:58] {Les} cheers

[15:58] {scottie} gn all

[15:58] {Will49} TTFN

[15:59] {nemo} futes selling big

[15:59] {nemo} Black Wednesday toomorrow

  

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