Wednesday, February 27, 2013

Feb 27 2013

Today's Catch of the Day JBE setup is as cookie-cutter as they get, total "Standard Operating Procedure" play, no thinking involved - follow the manual, pocket the profit.



Session Time: Wed Feb 27 00:00:00 2013
[09:07] {dino} gm
01[09:09] {Threei}  dino :)
[09:10] {nemo} what's my name?
01[09:10] {Threei}  hmmm
[09:10] {nemo} can't find my i.d.
01[09:10] {Threei}  call yourself and see who picks up phone?
[09:11] {nemo} my phone is right here
[09:12] {jdetente} good morning all
01[09:12] {Threei}  jd :)
[09:13] {thomcbell} vad - been re-reading 111 trades
01[09:13] {Threei}  I plan too
[09:13] {thomcbell} excellent job
01[09:14] {Threei}  thank you sir!
01[09:14] {Threei}  it should be called 164 trades now I guess, with latest addition...
[09:20] {dptl} gm
[09:20] {nemo} well, was wrong about the long setups going into the close.  Having said that, that, I think is the first time a long closing setup hasn't delivered in this bull run
[09:20] {cipher} gm
[09:20] {Will49} Good morning
01[09:20] {Threei}  cipher :)
01[09:20] {Threei}  will :)
01[09:20] {Threei}  dp :)
[09:26] {thomcbell} aig on watch for short setup - held multiple levels nicely but ......
[09:27] {ese} morning
01[09:27] {Threei}  ese :)
01[09:28] {Threei}  BBRY on short watch
01[09:28] {Threei}  FCX too
01[09:32] {Threei} Short Setup: BBRY  13 break
01[09:32] {Threei}  If holds  .10
01[09:33] {Threei} Short Setup: FCX  .90 break
01[09:33] {Threei}  If holds  32
01[09:35] {Threei}  ( (US) Congressional leaders to meet with President Obama on Friday
01[09:35] {Threei}  that's why sudden spike
01[09:35] {Threei}  sheesh
[09:35] {cipher} adsk l .16
01[09:36] {Threei}  Invalidated  FCX
[09:38] {thomcbell} lvs wow
[09:38] {cipher} out adsk .45 +.29
01[09:39] {Threei}  no go BBRY
[09:40] {cipher} spwr l .91
01[09:40] {Threei} Short Setup: GDX  .50 break
01[09:40] {Threei}  If holds  .60
[09:40] {nemo} ahh, so we're getting the breakout this morning
[09:41] {cipher} cost l .22
[09:42] {cipher} out spwr .03 +.12
01[09:42] {Threei}  stop to .56
[09:42] {cipher} out cost .54 +.32
[09:43] {thomcbell} coh long setup 48.71 break - half lot
[09:44] {thomcbell} coh 1:1
[09:44] {thomcbell} coh 1:2
[09:44] {cipher} wtg tbel
[09:44] {thomcbell} not a scalp for me
[09:45] {thomcbell} could get stupid
01[09:45] {Threei}  1:1
[09:47] {thomcbell} out even on coh
[09:48] {thomcbell} market too ittery
[09:49] {dino} cri sm l .51
[09:49] {thomcbell} short setup aig 37.50 break i entered - bad typing
01[09:50] {Threei}  COH starts looking interesting for 49 break
[09:50] {thomcbell} yes theres a takeover rumor on it
01[09:50] {Threei}  not for faint heart
[09:51] {cipher} +.17 cri thx dino
[09:51] {thomcbell} bbry reverse c&h vad
[09:52] {thomcbell} coh pretty tight here for a whippy stock
[09:52] {cipher} exxi l .31
[09:52] {dino} gj cipher
[09:54] {nemo} vwap bounces iwm spy fas
[09:56] {cipher} out exxi flat
[09:56] {thomcbell} aig 1:1
[09:57] {cipher} expe l .34
[09:57] {cipher} out .24 -.10
[09:59] {thomcbell} aig flat on 2nd half
[09:59] {dino} out cri .98, +.47
[09:59] {Will49} nice dino
[09:59] {cipher} wtg
[09:59] {dino} ty, but kindda sucked, thing spiked to 56.68
[10:00] {cipher} expe l .34
01[10:00] {Threei}  *(US) JAN PENDING HOME SALES M/M: 4.5% V 1.8%E; Y/Y: 10.4% V 8.2%E
[10:00] {dino} pdce sm s .01
01[10:00] {Threei}  (IT) Center-left junior coalition party from Bersani's group is said to have rejected an offer from the center-right Berlusconi group to join a governing coalition
[10:01] {nemo} long-side filling up fast on algo
[10:01] {cipher} out expe .65 +.31
[10:03] {dino} cov pdce .25, +.76
[10:03] {cipher} nice dino
[10:03] {dino} ty
[10:04] {dino} trying to find ot why its up. q4 -4.17/share
[10:04] {dino} ahh utica shale
01[10:04] {Threei} Short Setup: SLW  .25 break
01[10:04] {Threei}  If holds  .35
01[10:05] {Threei}  nope
01[10:07] {Threei} Long Setup:  LVS  .75 break
01[10:07] {Threei}  hl
[10:08] {dptl} stop?
01[10:08] {Threei}  standard
[10:08] {dptl} k
01[10:10] {Threei} Long Setup:  CAT  .75 break
01[10:10] {Threei}  hl
01[10:10] {Threei}  If holds  .65
01[10:11] {Threei}  1:1
01[10:11] {Threei}  1:2
01[10:11] {Threei}  out
01[10:12] {Threei}  LVS stop to .69
[10:13] {cipher} rprx l .70
[10:14] {dino} pdce sm s .08
01[10:15] {Threei}  1:1
[10:17] {ese} took the cookies out of my computer and it cut me off
[10:17] {dino} cov pdce .78, +.30
01[10:17] {Threei}  now I know cookie monster is real
[10:18] {jdetente} sold some AMRN $8 puts .25/share
[10:18] {thomcbell} dino - trla one more flush right down to the 50 sma
[10:18] {jdetente} oops sorry didn't mean to post that lol
[10:18] {jdetente} wrong window
[10:18] {dino} ok
01[10:19] {Threei} Long Setup:  RIG  .50 break hl
[10:19] {dino} 22.35 tbell?
[10:20] {thomcbell} yes
[10:20] {dino} alrighty then
01[10:20] {Threei}  If holds  .40
[10:21] {cipher} pdce l .00
[10:23] {dino} 07 brockin' green
[10:23] {dino} rockin'
[10:23] {thomcbell} long setup jcp 20.70 break if holding 20.60
[10:23] {thomcbell} earnings after the bell - fyi
01[10:24] {Threei}  1:1
[10:26] {cipher} out pdce .38 +.38
[10:26] {cipher} what a ride pdce
[10:27] {cipher} shorts got squeezed and longs got whacked
[10:29] {thomcbell} jcp invalid
[10:29] {cipher} bsft blood
[10:29] {cipher} bsft l .14
[10:33] {dino} jbht bspike
01[10:35] {Threei} Long Setup:  AET  .05 break
01[10:35] {Threei}  If holds  .95
[10:44] {cipher} out bsft -.16
[10:46] {dino} railroads rocking
[10:46] {cipher} bsft l .82
01[10:48] {Threei}  stop .99
01[10:51] {Threei} Short Setup: FB  .70 break
01[10:51] {Threei}  If holds  .80
[10:51] {cipher} bsft stop -.08
[10:52] {dino} thinking 31.20s
01[10:53] {Threei}  AET 1:1
[10:53] {dino} htwr sm l .38, gappy
01[10:54] {Threei}  1:2
[10:54] {cipher} panl l.05
[10:55] {Will49} tks Vad 1:2
[10:55] {dino} out htwr .88, +.50
[10:55] {dptl} out .28 ty
01[10:55] {Threei}  yw
[10:59] {cipher} czr l .68
[11:00] {patel} 9.50 high
[11:03] {cipher} out panl .26 +.21
[11:04] {cipher} too soon
[11:07] {dino} gj
[11:08] {cipher} out czr .83 +.15
01[11:08] {Threei}  1:3, out
[11:09] {dino} darn bsft never got to my target to enter
[11:09] {cipher} scty drop
[11:10] {cipher} scty l .98
[11:11] {cipher} czr l.90
01[11:15] {Threei}  http://goo.gl/wAjxS
[11:15] {cipher} out czr .03 +.13
01[11:16] {Threei}  wow AET
01[11:17] {Threei}  can I have my exit back?
[11:19] {cipher} out scty .14 +.16
[11:19] {dino} clf spike
[11:20] {ese} L htz .69 avg .96
[11:33] {dino} mstr drop
01[11:34] {Threei} Short Setup: FB  .80 break
01[11:34] {Threei}  If holds  .90
01[11:39] {Threei}  did FB trigger? looked away for a few
[11:39] {patel} yes
[11:39] {patel} in at .79
01[11:39] {Threei}  k
[11:39] {Will49} yes in at .79
[11:41] {cipher} mstr l .98
01[11:41] {Threei}  notice 26.70 on FB,
01[11:41] {Threei}  yesterday's low
01[11:42] {Threei}  got broken earlier today, then market surge helped FB stay afloat,
01[11:42] {Threei}  but if get broken again, good chance for a sizeable drop
[11:46] {dino} nice mstr entry cipher
[11:47] {cipher} thx for heads up
[11:51] {dino} np
[11:53] {cipher} out .61 +.63
[11:53] {cipher} missed the top
[11:53] {cipher} wow glad I got out
01[11:54] {Threei}  lol
[11:54] {cipher} bids just disappeared
[11:54] {cipher} not funny 3i
[11:55] {cipher} like jumping into an empty pool
[11:55] {cipher} :)
01[11:55] {Threei}  how is it not funny?? :)
[11:55] {nemo} pogo sticking in a minefield
[11:56] {cipher} weird stock now back up
[12:00] {dino} always tredes freaky
[12:00] {dino} pdce hod
[12:01] {dino} jbht too
[12:09] {dptl} stopped fb
01[12:09] {Threei}  yeah
[12:10] {nemo} don't forget, this is mark-up day
01[12:11] {Threei}  why do you think I forget that?
[12:11] {nemo} just a general service announcement
01[12:19] {Threei}  can't get rid of feeling we are going to see a lot of selling today, and FB is one of those that will come crashing down
[12:20] {thomcbell} same with aig - cant catch a bid at all
[12:21] {thomcbell} but fb better - still down 2% despite all this market strength
[12:21] {dino} traditionally march and april are not the best months for longs
[12:23] {dino} spike
[12:35] {cipher} lmca l .08
[12:37] {cipher} out .30 +.22
[12:38] {cipher} now I can go to lunch :)
01[12:38] {Threei}  just don't jump in empty pools on your way
[12:39] {cipher} lol
[12:39] {dino} gj
01[12:39] {Threei}  frikin FB
[12:40] {Will49} it's toying with us
01[12:42] {Threei} Short Setup: AIG  .70 break
01[12:42] {Threei}  If holds  .80
[12:45] {thomcbell} short setup wprt 29.90 break if holding 30
[13:02] {dino} pdce sm s .55, stop hod
[13:03] {dino} well that sucked
[13:09] {dino} rinsed
01[13:21] {Threei}  ok AIG
01[13:21] {Threei}  time to die
[13:31] {Will49} stock teaser!
[13:32] {dino} zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz
[13:32] {nemo} dino dcc
01[13:32] {Threei}  slow creep up day in a stall phase
01[13:32] {Threei}  it's either sit and wait, or pick a play that has a chance, woth as low risk as possible, and give it a go
[13:33] {nemo} consolidating at lunch, spy made WPP, question is does FAS and IMW try for theirs?
[13:35] {dino} sitting and waiting for capit or spike
[13:35] {thomcbell} anybody do wprt
[13:35] {thomcbell} if so take em in here
[13:35] {Will49} wish i had
[13:36] {dino} srpt
[13:37] {dino} can't borrow
[13:40] {thomcbell} that wprt came right out of the 111 reading i did last night
[13:40] {thomcbell} c&h failure
[13:40] {thomcbell} thanks vad
01[13:40] {Threei}  you are very welcome :)
01[13:40] {Threei}  (I really need to read it)
01[13:41] {Threei}  (and pretend that I RE-read it)
01[13:51] {Threei}  "Light travels faster than sound. That is why some people seem bright until you hear them speak."
[13:51] {Will49} lol
01[13:54] {Threei}  I thought torture was illegal? Someone needs to tell AIG
[13:54] {Will49} i'm getting screen burn-in on my retinas
01[13:59] {Threei}  good boy AIG... do more of that
01[14:05] {Threei}  and faster...
01[14:05] {Threei}  I want to get to 1:1 while we are young
[14:05] {Will49} specially me
01[14:05] {Threei}  well... I'll retract that... too late for some (slanting at nemo)
[14:07] {nemo} mesodactyl
[14:08] {dino} wes drop
01[14:11] {Threei}  stop .76 AIG
01[14:11] {Threei}  no point in risking full sized stop at this point
01[14:12] {Threei}  hmmm... thnis sentence above loooks like the name of one of resorts on our island... Point No Point
[14:13] {dino} cri sm l .60
[14:13] {thomcbell} coh ugly 10 minute pattern - reverse c and h
[14:47] {dino} out cri .75, +.15
01[14:52] {Threei}  frikin GDX
[14:56] {dino} nice morning, but this afternoon is d e a d
01[14:57] {Threei}  slow climb... those ARE dead
[14:58] {dino} yeah, not my type of market
01[14:58] {Threei}  look at the volume today
01[14:58] {Threei}  comparing to selloff days of late
[14:58] {dino} low
[15:02] {dino} bsft drop
[15:07] {thomcbell} bbry explosive
01[15:10] {Threei}  no news
01[15:12] {Threei}  Facebook Reportedly expanding advertising services to third parties - TechCrunch.com- Through new partnerships with top online and offline purchase data providers Datalogix, Epsilon, Acxiom, and BlueKai, Facebook is now allowing advertisers to target hashed lists of existing and potential customers, and categories like role playing gamers or soda drinkers. This expansion of Facebooks Custom Audiences program could rake in revenue and attract businesses by matching ads to real spenders. - The four partners already work with many of the worlds biggest brands to target email marketing, direct mail, and other online ads. Now theyll be able to use the same ones to pinpoint Facebook ads. Businesses can request their data partner upload a privacy-protected, hashed list of customer or potential customer information such as email addresses. The advertiser can then target these sets of people, but dont ever know the identity of who theyre reaching.
01[15:12] {Threei}  sounds nasty
[15:14] {jdetente} uvxy is now .80 from my original entry
[15:15] {jdetente} sorry wrong window again lol
01[15:15] {Threei}  34% Say U.S. Heading in Right Direction
01[15:15] {Threei}  I didn't know that many thought right direction was over the cliff
[15:16] {dino} they are the collectors of handouts
01[15:21] {Threei}  even they can't be this blind so they don't see the end of the road, can they?
[15:22] {dino} bsft blood
[15:24] {dino} 3i yes they are blind, socialists. all equal bs
[15:25] {Will49} lots of good people out there that just have no clue about what's going on
01[15:26] {Threei}  scary isn't it
[15:27] {Will49} oh yeah
[15:27] {dino} bsft sm l .51
01[15:27] {Threei}  when their world comes crashing down, and they'll be pointed at "guilty"
[15:28] {dino} stop -.30
01[15:29] {Threei}  last try:
01[15:29] {Threei} Short Setup: GDX  .15 break
01[15:29] {Threei}  If holds  .25
[15:37] {thomcbell} short setup qcom 66 break if holding 66.10
[15:39] {dptl} have a good night all...see ya tomorrow
[15:39] {Will49} be good dp
[15:41] {dptl} i will...no shaking more then once lol
[15:41] {Will49} lol
01[15:42] {Threei}  hmmm
01[15:42] {Threei}  I don't know what to say to that
[15:42] {dptl} lol
[15:42] {Will49} silence is golden
01[15:42] {Threei}  I'll elect that, lol
[15:44] {dino} cya dp
[15:48] {dino} calling it a day, thx all, good one
01[15:48] {Threei}  take care dino
[15:48] {dino} u2 buddy
01[15:48] {Threei}  no time for GDX to trigger and work
[15:48] {Will49} see ya dino
[15:48] {dino} cya will
01[15:48] {Threei}  let's call it a day
[15:48] {Will49} fine by me
01[15:49] {Threei}  thank you all, have a good evening, see you tomorrow
[15:49] {thomcbell} qcom 1:1
[15:51] {patel} take care
[15:54] {thomcbell} bidding for entire second half on qcom at 37.80 and moving stop to 37.88
[15:55] {thomcbell} out qcom 1:2
01[15:55] {Threei}  wtg
[15:55] {thomcbell} tu - good night
[15:55] {thomcbell} all

Tuesday, February 26, 2013

Feb 26 2013.

Trivial day, profitable but boring, especially second half of the day. Morning was about perfect  with 5 wins out of 6, afternoon was back and forth. 


Session Time: Tue Feb 26 00:00:00 2013
[08:58] {dino} gm
01[09:01] {Threei}  dino :)
[09:04] {dino} it would be ironic if italy was the 1st to leave the euro, as all bets are on greece
01[09:07] {Threei}  well... sounds like immediate threat is off for now
01[09:07] {Threei}  too bad
[09:07] {scottie} good morning
01[09:08] {Threei}  scottie :)
[09:14] {cipher} gm
01[09:14] {Threei}  cipher :)
[09:14] {jdetente} good morning
01[09:14] {Threei}  jd :)
[09:16] {nemo} boy good money to be made trading vxx in the pre market, look at that
01[09:17] {Threei}  it's not shortable normally
[09:17] {nemo} that sucks
[09:17] {nemo} it's had great movement for such a low priced etf
[09:18] {jdetente} I took some shorts from the end of day yesterday
[09:18] {jdetente} VXX
[09:18] {nemo} I don't type like what's his name
[09:18] {nemo} Have the broker do a locate
[09:22] {Will49} gm
01[09:22] {Threei}  will :)
[09:25] {Will49} chart troubles again
01[09:25] {Threei}  yeah
[09:31] {thomcbell} looking for a jcp long setup
[09:32] {thomcbell} no
[09:32] {thomcbell} and then pow
[09:32] {thomcbell} haha
01[09:33] {Threei} Short Setup: AIG  .45 break
01[09:33] {Threei}  If holds  .55
[09:34] {cipher} STX l.50
01[09:35] {Threei} Short Setup: FCX  .50 break
01[09:35] {Threei}  .80
01[09:35] {Threei}  If holds  .90
[09:36] {jdetente} got 1:1 on AIG ty
01[09:36] {Threei}  :)
[09:38] {cipher} out stx .68 +.18
01[09:38] {Threei}  AIG 1:2, out
[09:38] {thomcbell} good stuff vad
[09:38] {thomcbell} missed it
[09:39] {Will49} good start Vad
[09:39] {cipher} aig +.16 thx
[09:39] {thomcbell} long setup qcom 65.50 break if holding 65.40
01[09:39] {Threei}  :)
01[09:39] {Threei}  FCX 1:1
[09:40] {cipher} anyone has charts on Laser?
[09:40] {Will49} no
[09:40] {nemo} wow, that's really getting bad, huh?  they have any explanation?
[09:41] {dino} vips drop
[09:43] {dino} cwh sm s .54
[09:43] {thomcbell} qcom invalid
01[09:44] {Threei} Long Setup:  LVS  .40 break hl
01[09:44] {Threei} Short Setup: LVS  .30 break hl
01[09:45] {Threei}  1:1
[09:46] {thomcbell} jcp 21.58 long break if hol.ding 21.48
[09:46] {cipher} +.43 VIPS thx dino
01[09:46] {Threei}  1:2
01[09:47] {Threei}  1:3, out
[09:47] {dino} gj
[09:47] {thomcbell} lovely lvs
01[09:48] {Threei}  FCX 1:2 close enough, out
[09:48] {scottie} fcx +.18 tks :)
01[09:48] {Threei}  I don't know why ese doesn't like downward market, it's the easiest thing ever
[09:49] {thomcbell} wow lvs 1:5
[09:50] {dino} cwh stop -.35
[09:50] {thomcbell} 1:6
01[09:50] {Threei}  I am not looking
01[09:50] {Threei}  I am not looking
[09:50] {cipher} vips l .25
01[09:50] {Threei}  I am not looking!
[09:51] {thomcbell} out jcp -.10
[09:51] {cipher} out .42 +.17
[09:53] {jdetente} jiminy christmas! LVS
01[09:53] {Threei}  charts waking up
01[09:53] {Threei}  Q3, C2
[09:54] {nemo} watch LVS for attempted bounce nearer to the whole
[09:54] {cipher} AMZN L .39
01[09:54] {Threei}  it's really time
01[09:55] {Threei} Long Setup:  LVS  .30 break hl
01[09:55] {Threei}  ummm
01[09:55] {Threei}  1:1
01[09:55] {Threei}  lol
01[09:55] {Threei}  .32 was obtainable if you had finger on a trigger
01[09:56] {Threei}  then boom
[09:56] {cipher} out AMZN .60 +.21
[09:57] {dino} cwh sm s .04
01[09:57] {Threei}  anyne got LVS?
[09:57] {scottie} no
[09:57] {jdetente} no
[09:57] {thomcbell} i got a bit
[09:57] {Will49} no
[09:58] {thomcbell} short setup fbhs 33 break if holding 33.10
[09:58] {dino} chw stopped -.23
[09:59] {dino} wtf rinsed
01[09:59] {Threei}  *(US) FEB RICHMOND FED MANUFACTURING INDEX: 6 V -4E
[09:59] {dino} f#ck!
[09:59] {thomcbell} fb possibly two sided vad
[09:59] {thomcbell} 0.95 - 0.85
[10:00] {thomcbell} lvs out 49.60
[10:00] {thomcbell} TU
01[10:00] {Threei}  *(US) FEB CONSUMER CONFIDENCE: 69.6 V 62.0E
01[10:00] {Threei}  yw
[10:00] {thomcbell} fbhs invalid obviously
[10:00] {cipher} pdce l .40
01[10:00] {Threei}  *(US) JAN NEW HOME SALES: 437K V 380KE
01[10:01] {Threei}  (US) Fed Chairman Bernanke: Benefits of asset purchases are clear, outweigh costs at this point - Senate testimony
01[10:01] {Threei}  I beg to differ
[10:01] {cipher} out pdce .68 +.28
01[10:01] {Threei}  but interesting insertion, "at this point"
[10:02] {thomcbell} holy two sided missed opportunity on fbhs
[10:06] {dino} cwh last try s .50
[10:06] {cipher} stx s .36
[10:06] {thomcbell} euro weak
[10:07] {thomcbell} bbry new low for move
[10:07] {cipher} cov .25 +.11
01[10:07] {Threei}  crap
01[10:07] {Threei}  wanted to watch BBRY for short at 13 break and forgot
01[10:07] {Threei}  13.10 was a nice entry point
01[10:07] {Threei}  let's see if we get a bounce to short
[10:08] {cipher} vips l .05
01[10:08] {Threei}  yeah right
[10:08] {dino} cov cwh .13, +.37
[10:10] {cipher} out vips .10 +.05
[10:11] {thomcbell} fb got 1:1 stop to break even on rest
[10:11] {thomcbell} almost got taken at 1:2
[10:13] {thomcbell} jcp short setup 21.39 break if holding 21.5
[10:17] {thomcbell} target jcp 21.01
[10:18] {thomcbell} jcp 1:1
[10:18] {cipher} mon s .52
[10:19] {cipher} tfm l.51
[10:21] {thomcbell} stop on jcp to 21.36 because of its being crazy
[10:22] {thomcbell} jcp 1:2
[10:22] {thomcbell} stop on balance to 21.32
[10:24] {dino} cwh sm s .76
[10:25] {thomcbell} jcp stop to 21.21
[10:25] {thomcbell} flat
01[10:25] {Threei} Short Setup: GDX  .40 break
01[10:25] {Threei}  If holds  .45
[10:27] {cipher} out TFM .95 +.44
[10:28] {cipher} cov MON .40 +.12
[10:35] {thomcbell} darn jcp target hit
[10:36] {dino} cwh stop -.10
[10:36] {cipher} lulu l .00
[10:36] {dino} and rinsed
[10:37] {cipher} lnco l .24
01[10:37] {Threei} Long Setup:  BBRY  .80 break
01[10:37] {Threei}  If holds  .70
[10:38] {cipher} out lulu .10 +.10
[10:39] {dino} elli sm l .20
[10:40] {dino} cwh sm s .62
[10:41] {cipher} SPWR L .47
[10:42] {cipher} out lnco .29 +.05
[10:43] {cipher} out spwr +.03
[10:46] {dino} cov cwh .12, +.50
[10:48] {thomcbell} bbry still valid correct Vad?
01[10:51] {Threei}  yes
01[10:52] {Threei}  never lost .70
[10:53] {scottie} half out tks Vas
01[10:53] {Threei}  :)
[10:53] {ese} morning.........i know i know....i'm late
01[10:53] {Threei}  too bad... we are having blast of a morning
[10:54] {ese} naturally..........
01[10:54] {Threei}  and Ben said everything you wanted him to say
[10:54] {ese} which was
01[10:55] {Threei}  "everything's great, economy is happy, we continue supporting it, and will do so until it dies"
[10:55] {ese} " I am your worst economic nightmare"
[10:56] {ese} it's now a reflex action with him anyway..........market is now use to selling off everytime he says something..........it's just an expected thing
[10:57] {nemo} oh great, a pontificating musician
[10:57] {ese} he has no credibility left
[10:57] {ese} lol
[10:57] {ese} oh ya oh ya!!!!!! well I represent that remark
[10:57] {nemo} go shove a zildjian up....oh nevermind
[10:58] {nemo} would probably go in easy now that I think about it
01[10:59] {Threei}  I am not sure why you tie his credibility to what he says instead of what he does
01[10:59] {Threei}  he can talk about whatever, who cares
01[10:59] {Threei}  what he does is what matters
01[11:00] {Threei}  and what he does is, flood economy with dollars created out of thin air
01[11:00] {Threei}  with no exit strategy
01[11:00] {Threei}  supporting market with this never ending money injection
[11:00] {ese} ouch.......the two of you.........may I ask who pee'd in your cornflakes this morning? hmmmmmmmm
01[11:00] {Threei}  Is it good thing he does, you think?
[11:01] {nemo} I'm pissed I had to expunge all the booze I drank before I went to bed last night because I figured I'd be massively hungover this morning
[11:02] {dino} its simply a race to the bottom. devalue, devalue, devalue. thing is the whole world has caught on so its usa vs euro vs yen, etc
[11:02] {nemo} what's scary is all the central banks have to take up the deficit spending slack, so when does someone decide to get off the fiat merry-go-round
[11:03] {scottie} out BBRY
01[11:03] {Threei}  that's when nusic stops
01[11:03] {Threei}  music too
[11:03] {nemo} that's when everything comes to a screeching halt
[11:03] {dino} good question, i don't know answer.
01[11:04] {Threei}  and the longer this lunacy continues the harder crash is going to be
[11:04] {dino} the only thing they have going for it is everybody is "all in".
01[11:04] {Threei}  but instead of gradual tightening the belt now in attempt to slide more or less easy and over time out of this quagmire, they continue pumping it up
[11:04] {nemo} that's the problem, and to try and exit, they have to remove liquidity, which automatically drives up interest rates, which raises government borrowing costs Now choose your analogy, either the Potemkin Village or the Emperor without clothes gets exposed
[11:05] {ese} lol  good one
01[11:06] {Threei}  so ese... what exactly is your beef with Ben, that he enables more borrowing and spending, or that he is not cheering enout while doing it?? :)
[11:07] {dino} i think its a grand experient with bunch of governments participating. they think if we all are printing what does it matter.
[11:08] {dino} odd thing is commodities are not reflecting it
[11:08] {Will49} everything being manipulated
01[11:09] {Threei}  my theory about that is:
[11:09] {dino} yes
01[11:09] {Threei}  easy money flow in the market, you are a beneficiary of it and decide what to inveat in,
[11:09] {ese} we've been through this before...........and it's all you against me.......he's a negative nanny........has never said anything positive yet and I don't happen to believe it's all gloom and doom.....if that was the case market and world should have been toast after the great depression
01[11:09] {Threei}  you have a choice of equities and commodities,
01[11:09] {Threei}  you know that economy is in the crapper,
[11:10] {nemo} dino arguably commodities are pricing in deflation
[11:10] {dino} i've read death of money. but if all are printing like crazy.....?
01[11:10] {Threei}  will you put money in equities which are more liquid and easier to exit when shit hnits the fan
01[11:10] {Threei}  or commodities that are more sensitive toeconomy state, less liquid and harder to get mom and pop in?
[11:11] {dino} nemo, pehaps, but that doesn't make sense w/the printing, unless they have lost the war...
[11:11] {ese} the financial world is just like bacteria ...............it simply adjusts to the latest pennicillan and carries on
01[11:11] {Threei}  IMO, you'll get in equities and create an idiotic story about "great rotation"
[11:11] {Will49} if everyone stays on the merry-go-round, it should never tip
01[11:11] {Threei}  enticing retail investor in
[11:11] {dino} but 3i, commoditites can be bought just as equities, think fcx, clf, etc...they are crushed
01[11:11] {Threei}  and that's why we see equities lift while commodities stay put
[11:11] {nemo} that's right dino
[11:12] {scottie} OKE l .75 if holds .65 ?
01[11:12] {Threei}  yes but they are less liquid
[11:12] {dino} no they are not, clf 3 million shares so far today
[11:12] {nemo} great taste less filling  great taste less fillinggreat taste less fillinggreat taste less fillinggreat taste less fillinggreat taste less fillinggreat taste less fillinggreat taste less fillinggreat taste less fillinggreat taste less fillinggreat taste less fillinggreat taste less fillinggreat taste less fillinggreat taste less fillinggreat taste less fillinggreat taste less fillinggreat
[11:12] {nemo} taste less fillinggreat taste less fillinggreat taste less fillinggreat taste less fillinggreat taste less fillinggreat taste less fillinggreat taste less fillinggreat taste less fillinggreat taste less fillinggreat taste less fillinggreat taste less fillinggreat taste less fillinggreat taste less filling
01[11:12] {Threei}  not really delighted, scottie
[11:12] {scottie} gone anyway
[11:12] {ese} rotflol!!!
[11:12] {nemo} mmhhh, that got out of hand
[11:13] {ese} now that was funny
[11:13] {nemo} that's what I said when my carbine went full-auto
[11:13] {dino} lol
01[11:13] {Threei}  you lost me ese... you again are talking about what Ben says
01[11:13] {Threei}  who cares?
[11:13] {ese} lol......now thats a good one too
[11:14] {nemo} oh boy this market looks like trap door about to drop
01[11:14] {Threei}  I am asking you whether you have a problem with what he does
[11:14] {thomcbell} jcp - come on
01[11:14] {Threei}  he is federal reserve chairman, not a cheerleader, for all I care he may not speak at all
[11:14] {ese} ya i guess so........he does nothing
[11:14] {nemo} monthly pivots 148.60ish spy 138 FAS 88.62 iwm
01[11:14] {Threei}  nothing?
[11:15] {ese} at least not that i can see anyway
01[11:15] {Threei}  $80B every month created out of thin ait
[11:15] {dino} imo 3i, ben's problem is the other governments figured out his devaluation game and are trying to beat him at it
01[11:15] {Threei}  tthis is nothing?
[11:15] {ese} lets say he's ineffective
01[11:15] {Threei}  1T a year
01[11:15] {Threei}  you are not hearing me, ese
01[11:15] {Threei}  $1T a year
01[11:15] {Threei}  how is this nothing?
01[11:16] {Threei}  and what do yiou expect him to do to be effective?
01[11:16] {Threei}  he is monetary policy chief
[11:16] {nemo} I'm not going to blame Bennie completely.  His naivete regarding Congress stepping up to the plate though was juvenile.  The only way this thing works is they get their feces assembled.  Ain't happening
01[11:16] {Threei}  can you create jobs by pure monetary plicies?
[11:17] {nemo} no, and he's pleaded with Congress before
01[11:17] {Threei}  see OKE, scottie?
01[11:17] {Threei}  trap
[11:17] {nemo} fat chance
[11:17] {dino} i think everybody/countries are all f#cked together on this, so salvation thru inflation, by printing like crazy
[11:17] {Will49} that's it
[11:18] {ese} whats it?
[11:18] {Will49} so let's make sure we're on the right side
[11:18] {Will49} everybody prints
[11:18] {dino} yes will, you and i see whats happening
[11:18] {Will49} remember..the golden rule
[11:18] {Will49} he who has the gold.....
[11:18] {ese} yup
[11:19] {dino} its a concentrated effort by governments around the world, a grand experiment
[11:19] {Will49} so, don't bet against the fed
[11:19] {Will49} hope the experiment works
[11:19] {ese} well thats true
01[11:19] {Threei}  I suspect we are nearing the end of that rule
[11:19] {Will49} all we CAN do is hope
[11:19] {Will49} and play the odds
[11:20] {dino} your tell is to watch oil, copper, iron, etc. don't worry until they move seriously
01[11:20] {Threei}  and for the first time in fed history we will see them losing control
[11:20] {ese} thats probably a good point too vad.......
01[11:20] {Threei}  they seriously overplayed their hand with this balance sheet expansion
01[11:20] {Threei}  and confidence becomes an issue
[11:20] {dino} well 3i, it is what it is. they never saw the last real estate bubble either. so were they in control then?
01[11:21] {Threei}  no, and we had nice juicy crash
01[11:21] {Threei}  so they acted
01[11:21] {Threei}  and overreacted
01[11:21] {Threei}  and pushed pendulum too far
[11:21] {nemo} limit down in the premarket, yahoooooooo!!!!
[11:21] {dino} only difference now is all major governments are printing
[11:22] {Will49} print/manipulate.....repeat
[11:23] {Will49} the sheeple don't get it and the politicians stay in power
[11:23] {dino} exactly will. no free markets. accept and play
01[11:23] {Threei}  here is what I am trying to say, before we lose the plot:
[11:23] {Will49} scottie...hope you're minding the store for us:)
01[11:24] {Threei}  with thias balance sheet expansion, Fed's ability to maintain things in order becomes an issue for many, and this will lead to bond buyers revolt
01[11:24] {Threei}  and when that happens, Fed will remain the only bond buyer
01[11:24] {Threei}  which means the end of borrowing
[11:24] {dino} perhaps, but revolt and go where?
01[11:24] {Threei}  doesn't matter, they will stop buying US bonds
01[11:25] {Threei}  and that's what matters
01[11:25] {Threei}  they don't buy it now because they like them,
[11:25] {dino} well they won't buy euro or japanese bonds. they are doing the same
01[11:25] {Threei}  they just see the prettiest gurl in uglky camp
[11:25] {dino} as is britain, etc.
01[11:26] {Threei}  they'll go cash, gold, oil, whatever
01[11:26] {Threei}  land
01[11:26] {Threei}  it doesn't matter much
[11:26] {dino} agreed, see my post above. watch oil, copper, iron, etc
01[11:26] {Threei}  what matters is, Fed won't be able to keep things running if it remains alone in bond market
01[11:27] {Threei}  that's when borrowing stops,
01[11:27] {Threei}  and massive bankruptsy comes,
01[11:27] {Threei}  at the mnicipal, state and federal level
01[11:27] {Threei}  with public spending crashing down
01[11:27] {Threei}  this is where all these idiots lead us,
01[11:27] {Threei}  and Ben enables them
01[11:28] {Threei}  and that, ese, the problem with him, not what he says while doing that
01[11:28] {Threei} Short Setup: FB  .75 break
01[11:30] {Threei}  and if you think the problem is that he is doing nothing, this is exactly the opposite. We would be much better off if he did nothing
[11:30] {dino} i can agree with that. however, you play the hand you are dealt. so it doesn't matter until it does
[11:30] {ese} I'm listening but the only thing thats going through my mind..............is................
[11:31] {ese} trade what you see.................
01[11:31] {Threei}  we are not talking about trading, we are talking abvout economy prospects
01[11:31] {Threei}  and feds role
[11:32] {ese} ya but dino is right.........we have no contral here so it doesn't matter until it happens
01[11:32] {Threei}  well, it's your beef with ben that we discuss {G}
01[11:32] {Threei}  mine is very different
[11:33] {ese} agreed
01[11:33] {Threei}  you want him to talk rosy talks and do... what is it you want him to do?
01[11:33] {Threei}  no go FB
[11:34] {scottie} out -.15
[11:34] {Will49} same
[11:34] {jdetente} my stop didn't trigger
[11:34] {jdetente} ha got out at 26.87
01[11:35] {Threei}  There may be some frothiness in markets" - Ben Bernanke
01[11:35] {Threei}  "irrational exuberance" anyone?
[11:36] {Will49} that bastard
[11:36] {ese} will be back.......am on the phone to Iceland
[11:36] {Will49} lol
01[11:36] {Threei}  IB servers crapping out
[11:36] {Will49} wish the self-servers would too
01[11:36] {Threei}  it seems there is some underlying prolem at the level deeper than laser lately
[11:37] {Will49} it's bernake
01[11:37] {Threei}  last couple weeks or so, a lot of reports from different vendors
[11:38] {dino} lol will
[11:38] {Will49} :)
[11:39] {dino} nemo, db going to fill that 44.30 gap?
[11:40] {jdetente} freakin FB
[11:40] {nemo} I would think, looks like market in general is going lower
[11:40] {nemo} should take it with them
01[11:40] {Threei}  Bernanke urged the Congress to replace the sequester cuts with more nuanced and gradual spending reductions.
[11:41] {thomcbell} aig 37.03 short break
01[11:41] {Threei}  you remember hopw much are those sequester cuts?
[11:41] {thomcbell} just tested downtrend line intraday
[11:41] {dino} not even meaningful
01[11:41] {Threei}  44B
01[11:41] {Threei}  and even this drop in the ocean is a problem?
[11:42] {dino} term limits 3i, the only answer
[11:42] {Will49} amen
01[11:42] {Threei}  fat chance...
[11:43] {Will49} for sure
[11:43] {Will49} so, pretty bleak outlook
[11:43] {Will49} no leadership
[11:43] {Will49} just brinkmanship
[11:45] {thomcbell} aig 1:1
01[11:45] {Threei}  wtg
01[11:47] {Threei} Short Setup: FCX  .40 break
01[11:47] {Threei}  If holds  .50
[11:51] {thomcbell} aig flat second half
[11:51] {thomcbell} break even
01[11:51] {Threei}  FCX invalidated for now but on a radar
[12:08] {dino} cwh sm s .04
01[12:10] {Threei}  By now, the Keystone XL Pipeline has been under govt review longer than it would have taken to build it
[12:10] {dino} who is john galt?
[12:13] {Will49} we need more shrugging
01[12:13] {Threei}  (DE) German Gov't Econ Advisor Feld (one of the 'wisemen') said to have warned that Italy election results could bring back the eurozone crisis "with a vengance"
[12:13] {Will49} will bring back bunga bunga too
01[12:13] {Threei}  lol
01[12:13] {Threei}  really
01[12:14] {Threei} Short Setup: FCX  .50 break
01[12:14] {Threei}  If holds  .60
01[12:14] {Threei}  LOL:
01[12:14] {Threei}  (GR) Greece Syriza Party leader Tsipras: Growth policies from Samaras are 'anti growth'
01[12:15] {Threei}  I can see them arguing... "you growth!"
01[12:15] {Threei}  "no, you growth!"
01[12:17] {Threei}  ok, to kill 1 min more, paste this in google search line and hit enter:
01[12:17] {Threei}  5 + (sqrt(1-x^2(y-abs(x))^2))cos(10((1-x^2-(y-abs(x))^2))), x is from -1 to 1, y is from -1 to 1.5, z is from 1 to 6
01[12:17] {Threei}  incredible how people come up with these things
[12:18] {dino} cov cwh .64, +.40
[12:21] {jdetente} FCX broke .60 but do we still want to go for it it if breaks below .50?
01[12:22] {Threei}  I think so
01[12:22] {Threei}  looks right
[12:23] {jdetente} ok thanks
01[12:31] {Threei}  let's trail to .56
01[12:31] {Threei}  things look a bit random
01[12:32] {Threei}  out
[12:37] {nemo} http://www.youtube.com/watch?v=HbPDKHXWlLQ
[12:39] {jdetente} http://fc05.deviantart.net/fs71/f/2011/032/e/4/llama___napoleon_dynamite_by_brutalbic1-d38jbb8.jpg
01[12:44] {Threei} Short Setup: GLD  156 break hl
01[12:44] {Threei}  If holds  .10
01[12:48] {Threei}  grrr
[13:07] {dino} uthr sm l .91
01[13:21] {Threei}  was torn about FCX short at .80... too bad
[13:31] {dino} out uthr .21, +.30
[13:32] {nemo} chop chop chop chop chop
[13:39] {dino} wow, cut that uthr too soon
[13:46] {nemo} kors C&H
[13:46] {nemo} sounds too much like urethra, so using the word cut in the same sentence is rather.....uncomfortable
01[13:51] {Threei}  (IT) Consob market regulator bans short selling in Italy stocks of Banco Popolare and Mediolanum starting Wednesday
01[13:51] {Threei}  amazing
[13:52] {Will49} order from the Pope
[13:52] {dptl} good afternoon
[13:53] {dino} cwh spike
[14:01] {thomcbell} bbry back from the dead i see
01[14:02] {Threei}  eeh
01[14:02] {Threei}  zombie
[14:11] {dino} lol nemo, i just read your uthr comment
[14:20] {nemo} slw looks interesting
[14:20] {nemo} glad you liked it dino
01[14:32] {Threei} Short Setup: AIG  .60 break
01[14:33] {Threei}  If holds  .65
01[14:34] {Threei}  meh
01[14:39] {Threei} Short Setup: BBRY  .10 break
01[14:40] {Threei}  If holds  .20
01[14:45] {Threei}  1:1
[14:45] {scottie} out +.09 tks Vad
01[14:45] {Threei}  yw
[14:46] {dino} out elli .36, +.16
[14:59] {nemo} anybody take kors, coming up on $1
[15:02] {dino} no
[15:03] {nemo} well, slw didn't pan out anyway
[15:06] {dino} suss drop
[15:07] {dino} expd drop
[15:09] {Will49} gotta leave a little early today; good luck all
[15:09] {dino} cya will
01[15:09] {Threei}  take care will
[15:09] {dino} fcfs drop
[15:17] {dino} sm l .60 stop .48
01[15:21] {Threei} Short Setup: BBRY  13 break
01[15:21] {Threei}  If holds  .10
[15:23] {dino} dlph spike
[15:30] {dino} wtf, hard stop slippage. stop was 53.19, slipped to 52.94. bohica
[15:30] {dino} fcfs that was
[15:30] {nemo} KY dino?
[15:30] {dino} unfortunately, no
[15:30] {dino} thats the worst slip i've had in months
[15:31] {scottie} KY ?
[15:31] {nemo} didn't we warn you about trading like dino?
[15:31] {dino} kind of hard not to trade that way
[15:32] {nemo} poor scottie
[15:32] {dino} that slip cost me over $100
[15:33] {nemo} and you call yourself a trader
[15:34] {nemo} wow, that's a helluva bid pull
[15:36] {dino} ok, with that f'job, calling it a day. decent one overall, aside from the slip and 2 a.m. rines
[15:36] {dino} rinses
01[15:36] {Threei}  take care dino
[15:36] {scottie} dino
01[15:36] {Threei}  BBRY half out
01[15:37] {Threei}  time becomes an issue
01[15:37] {Threei}  1 cent to 1:1, gotta preserve some profit
[15:37] {dino} gn
[15:44] {nemo} looking at setups we're going higher tomorrow, bet job numbers are good
01[15:47] {Threei}  ah, who knows
01[15:47] {Threei}  Bunga bunga says overnight he wants to go back to polls, we open -300
[15:47] {nemo} nah
01[15:53] {Threei}  OK guys, thank you all
01[15:53] {Threei}  have a good evening, see you tomorrow
[15:55] {scottie} gn all
[15:55] {patel} gn
[15:55] {jdetente} gn

Monday, February 25, 2013

Feb 25 2013

Nice day that started a bit shaky and then got righted when we caught a whiff of a trend establishing itself. Got some breakdowns, got some bounces,... liking these selling days.



Session Start: Mon Feb 25 08:47:59 2013

[09:09] {dino} gm
01[09:09] {Threei}  morning dino
[09:09] {_sable1wolf} Morning everyong
01[09:09] {Threei}  wolf :)
[09:10] {nemo} oh sheesh another genus joins the asylum
[09:11] {cipher} gm
01[09:11] {Threei}  copher :)
[09:11] {jdetente} good morning
01[09:11] {Threei}  jd :)
[09:12] {nemo} heheheh affy seen better days
01[09:12] {Threei}  who?
[09:13] {nemo} AFFY
01[09:13] {Threei}  oh
01[09:13] {Threei}  eecl
01[09:15] {Threei}  Takeda Pharmaceutical Co Ltd Announces voluntary recall of Omontys following reports of serious hypersensitivity reactions that may become fatal- Takeda spokesperson: "Our company is working with the FDA and Affymax and decided to voluntarily recall Omontys to put patients safety first... We will swiftly provide information to patients and health care professionals."
01[09:16] {Threei}  and a bunch of downgrades
[09:17] {scottie} good morning
01[09:18] {Threei}  scottie :)
01[09:20] {Threei}  is it one product company or what
[09:22] {dptl} gm
01[09:22] {Threei}  dp :)
[09:23] {dptl} do you have charts Vad?
01[09:24] {Threei}  yes
[09:24] {dptl} what server?
01[09:24] {Threei}  3
[09:25] {ese} morning
01[09:25] {Threei}  ese :)
[09:26] {dptl} not here
01[09:27] {Threei}  quote 2
01[09:27] {Threei}  chart 3
[09:28] {ese} Read 5/6 paragraph down  http://www.kelownacapnews.com/news/189112511.html
01[09:28] {Threei}  DB swan dive
01[09:28] {Threei}  FB
01[09:29] {Threei}  cool ese
[09:29] {ese} tks
[09:30] {patel} gm
[09:30] {ese} P
01[09:30] {Threei}  patel :)
01[09:30] {Threei} Short Setup: BBRY  .60 break hl
01[09:30] {Threei}  If holds  .70
01[09:31] {Threei}  stop to .66
01[09:32] {Threei} Long Setup:  FB  .40 break
01[09:32] {Threei}  If holds  .30
01[09:33] {Threei}  out BBRY
[09:33] {cipher} arun l .15
[09:34] {thomcbell} aig 38.81 break if holding 38.90 short
[09:35] {cipher} away l .94
[09:35] {thomcbell} aig 1:1
01[09:35] {Threei}  good one AIG
[09:36] {thomcbell} qcom looking for a short pattern
01[09:36] {Threei}  stop to .34 FB
[09:36] {thomcbell} bbry maybe again with 13.60 break
[09:36] {cipher} ffiv l .12
[09:38] {cipher} out ffiv .-27
[09:39] {cipher} out away .27 +.33
01[09:39] {Threei}  FB 1:1
[09:39] {ese} L htz .00
[09:40] {thomcbell} aig 1:2
[09:40] {thomcbell} stop to 38.70
[09:40] {cipher} ffiv l .21
[09:41] {thomcbell} flat aig
[09:41] {cipher} out ffiv +.06
[09:41] {dino} dds drop
[09:42] {cipher} panl drop
[09:43] {thomcbell} jcp on watch for short after this drop
01[09:43] {Threei} Long Setup:  LVS  .50 break hl
01[09:44] {Threei}  If holds  .40
[09:44] {thomcbell} didnt get a setup on jcp
01[09:44] {Threei}  two-sided
01[09:45] {Threei}  .40 break short
[09:46] {cipher} out arun .02 -.13
[09:46] {dptl} you have 1min chart lvs Vad? i dont
[09:46] {ese} L nuan .01
[09:47] {cipher} me neither dp 5 min charts ok
01[09:48] {Threei}  1:1
[09:48] {scottie} +.09 tks Vad
01[09:48] {Threei}  same heree, using fsc as backup
01[09:48] {Threei}  1:2
01[09:49] {Threei}  ih come on BBRY
01[09:50] {Threei}  what disgusting manners
[09:50] {cipher} cree l .97
[09:52] {cipher} swks l .14
01[09:53] {Threei}  charts restarted
[09:54] {cipher} out cree -.06
[09:54] {cipher} ssys l .39
[09:57] {cipher} out .67 +.28
[09:57] {thomcbell} qcom a beast ]
01[09:57] {Threei}  AFFY lost will to live completely
01[09:57] {Threei}  doesn't even try to bounce after such gap
[09:58] {dino} one trick pony
[09:58] {dino} causing deaths
01[09:58] {Threei}  looks like
[09:59] {cipher} out swks .24 +.10
[10:00] {nemo} we may just hang here until the Bernanke minutes tomorrow
[10:00] {cipher} grmn l .86
01[10:01] {Threei}  speaking of, you can find whole calendar of the week events either here at our FB page http://goo.gl/6rmX9 or trading log http://tradinglog.realitytrader.com/2013/02/coming-this-week.html
[10:02] {cipher} out grmn -.03
01[10:03] {Threei} Short Setup: FB  .60 break
01[10:03] {Threei}  .50
01[10:03] {Threei}  If holds  .60
[10:03] {thomcbell} short setup qcom 66.38 break if holding 66.50
01[10:05] {Threei} Long Setup:  CAT  .55 break hl
01[10:05] {Threei}  If holds  .45
[10:06] {thomcbell} qcom totally by the book
[10:06] {thomcbell} as market is very strong
[10:06] {ese} out htz .26 +.26
01[10:07] {Threei}  no go CAT
[10:08] {nemo} spy fas look short here
[10:08] {dino} ddd sm l .90 pulp
[10:09] {nemo} watch 200 SMA on that one dino
[10:10] {thomcbell} oh aig
[10:11] {dino} out ddd .20, +.30
[10:12] {cipher} gj
[10:12] {dino} \wheres 200 nemo, my charts messed up on its split
[10:13] {dino} 07 red fwiw
[10:14] {nemo} $28.23
01[10:15] {Threei}  FB stop to .56
[10:15] {dino} ty
[10:15] {nemo} trading a stock that just split...that's Dino
01[10:16] {Threei} Long Setup:  CAT  .45 break hl
01[10:16] {Threei}  If holds  .35
[10:16] {thomcbell} jcp still taking bodies out i see
[10:19] {thomcbell} partialled qcom at 66.31 stop to breakeven
[10:19] {thomcbell} doesnt come in
[10:21] {thomcbell} qcom 1:1
01[10:21] {Threei}  market weakens
01[10:21] {Threei}  CAT of course too
[10:21] {nemo} [10:08] {nemo} spy fas look short here
[10:21] {thomcbell} qcom 1:2
[10:22] {thomcbell} qcom stop to 66.30 on rest
[10:23] {ese} I like the look of AKAM.......mrkt heading dn and it stays put
[10:24] {thomcbell} flat qcom 66.18
[10:25] {ese} L akam .95
[10:25] {jdetente} stopped FB .56
01[10:25] {Threei}  quite listless moves, no drive either way
[10:25] {thomcbell} aig looking for double bottom to emerge
[10:26] {dino} nothing for me either
01[10:28] {Threei} Short Setup: LVS  52 break
01[10:28] {Threei}  If holds  .10
[10:29] {thomcbell} duh qcom
[10:29] {ese} mrkt.............whats up
01[10:29] {Threei}  *(US) FEB DALLAS FED MANUFACTURING ACTIVITY: 17.8 V 3.0E
01[10:30] {Threei}  correction: *(US) FEB DALLAS FED MANUFACTURING ACTIVITY: 2.2 V 3.0E
[10:30] {thomcbell} wow
01[10:31] {Threei}  heh, wrong number
01[10:31] {Threei}  someone seriously mistyped it up there
[10:31] {thomcbell} akam looks like a 36.95 break long
[10:33] {scottie} BTU s .20 ?
[10:33] {ese} L htz .19
[10:33] {cipher} mdvn l .59
01[10:33] {Threei}  BTU, yes
[10:34] {ese} nuan acting like a non performing loan
[10:34] {cipher} becn l .15
[10:35] {cipher} out mdvn .71 +.13
[10:36] {thomcbell} jcp two sided 22.55 22.65
[10:37] {cipher} bjri l .62
01[10:38] {Threei} Long Setup:  BBRY  .45
01[10:38] {Threei}  If holds  .35
[10:39] {ese} am up .0034 akam..........think I should sell?
[10:42] {dino} immediately
[10:42] {cipher} wdc l .55
[10:43] {thomcbell} long setup aig 38.22 break if holding 38.15
[10:43] {ese} good bbry call vad
01[10:44] {Threei}  not yet
[10:44] {dino} esv sm l .34
[10:44] {ese} L akam avg .97
[10:45] {cipher} line l .07
[10:45] {thomcbell} aig briefly 1:1
[10:45] {thomcbell} cleaning up jcp flat at 22.54
[10:45] {cipher} out becn .42 +.27
[10:46] {dino} gj
[10:46] {scottie} stop on bbry ?
01[10:46] {Threei}  but getting theretouched 1:1...
01[10:46] {Threei}  umm
01[10:46] {Threei}  touched 1:1
[10:46] {cipher} out bjri .78 +.16
[10:46] {thomcbell} stop aig to 38.22 break even - even though i did not get taken at 38.32
01[10:46] {Threei}  either .39 of .44
[10:47] {scottie} partial fill only
[10:47] {cipher} out wdc .50 -.05
[10:50] {ese} alright!!!!!!!.......who on this board is responsible for the market ehhhhh?   submit your order.....tell it to got up
01[10:51] {Threei}  hmmm
[10:51] {nemo} nflx looks short here
01[10:51] {Threei}  who said we want it to go up?
[10:51] {cipher} out line .00 -.07
[10:51] {nemo} I'm short ese
[10:51] {ese} ummmmmm
[10:54] {thomcbell} spy weekly pivot 151.78
[10:54] {thomcbell} pivot from last week rather
[10:55] {dino} chuy drop
[10:55] {thomcbell} akam still impressive
[10:57] {nemo} we got some good volume a couple of minutes ago on spy at support, but it wasn't definitive volume
[10:57] {nemo} o.k. now they're trying to put in a bottom
[10:58] {dptl} scottie, you in btu?
[10:59] {scottie} yes .19
[10:59] {dptl} ok   same here
01[10:59] {Threei} Long Setup:  C  .85 break
01[10:59] {Threei}  If holds  .75
01[11:02] {Threei}  grrr
[11:03] {scottie} half out BTU
01[11:03] {Threei}  finally
01[11:04] {Threei}  this one took its sweet time
[11:04] {dptl} i am all out ty
[11:05] {scottie} yw
[11:06] {cipher} line l .76
[11:06] {cipher} gap fill line
[11:07] {scottie} half out BBRY as well
[11:08] {cipher} asml
01[11:08] {Threei}  BBRY might reach 1:2 this millenia
01[11:09] {Threei} Long Setup:  WFC  .65 break
[11:09] {cipher} ebay l .78
01[11:09] {Threei}  If holds  .55
[11:09] {ese} still a good call....strong against the mrkt
[11:09] {scottie} out BTU
[11:11] {thomcbell} jcp looks like more of a long now 22.49 break long in our time frame of 1 minute chart - 10 minute still looks like could be a short chart
[11:12] {cipher} cstr l .21
[11:14] {dptl} LCC .25 short?
[11:14] {cipher} exxi going fot the gap
01[11:15] {Threei}  not sure LCC
01[11:15] {Threei}  very slow
[11:15] {dptl} k
[11:15] {scottie} in .65
[11:15] {dino} ssys sm l .28
01[11:16] {Threei}  just got e-mail from nemo... starts with: "I don't like morning people... Or mornings... Or people..."
[11:17] {cipher} exxi l .53
01[11:18] {Threei}  ese... you noticed, Will is not here this morning, and there is a report about gunshots near Strathcona Hotel
[11:19] {nemo} yeah, and I'm still home
[11:20] {cipher} out exxi .48 -.05
[11:20] {ese} ya........saw that in the paper
[11:20] {ese} rather online paper
[11:20] {ese} where the frig does somebody get guns here
01[11:21] {Threei}  when it was a problem for criminals
[11:21] {cipher} out ebay .73 -.05
[11:21] {nemo} you still long DDD dino?
[11:22] {dino} out ssys .68, +.40
[11:22] {dino} no nemo, got out +.30 hour ago
[11:22] {nemo} sorry
01[11:23] {Threei}  btw guys, remember we spoke of russian road rage videos on Fri, and I said it was a gun instead of a basebal bat in my times
[11:23] {cipher} out cstr .20 -.01
01[11:23] {Threei}  here is how I know, remember and it don't miss it:
01[11:23] {Threei}  http://www.youtube.com/watch?v=IMjnQ1dvlJM
[11:25] {nemo} .75 area ddd might be shortable
[11:26] {nemo} big train to get in front of though
[11:26] {dino} feel like going green ssys ddd
[11:26] {dptl} SBUX .05 short?
01[11:27] {Threei}  hl
[11:27] {ese} out akam .11 +.14 good enough
01[11:29] {Threei}  let's scratch WFC
01[11:29] {Threei}  stop to .59
01[11:29] {Threei}  and try to dump it as close to entry as possible
[11:29] {ese} well................i think the best we can do here is the glass bottle imitation of an AK47
[11:31] {cipher} lnco l .91
[11:31] {cipher} out line -.01
[11:32] {cipher} out lnco .01 +.10
[11:33] {scottie} out bbry
[11:35] {scottie} out wfc
[11:39] {dptl} out sbux
01[11:40] {Threei}  wtg
[11:40] {dptl} ty
01[11:45] {Threei} Short Setup: JPM  .53
01[11:45] {Threei}  If holds  .60
[11:45] {scottie} stop ?
[11:47] {scottie} where is 1:1 ?
01[11:47] {Threei}  good queastion
01[11:47] {Threei}  let's try for under .45 for first partial
[11:49] {scottie} half out .44
01[11:50] {Threei}  (IT) Official in the Center Left party (Bersani) comments that another vote may be necessary given current projections of election results- Vote is a blow against Europe and the euro, if projections are confirmed. - Electoral law needs to be scrapped
01[11:50] {Threei}  really?
01[11:50] {Threei}  you don't like the result, you scrap the law?
01[11:50] {Threei}  nice
01[11:51] {Threei}  so, Berlusconi might be back at the helm
01[11:51] {Threei}  I like it... he is a lot of fun
01[11:52] {Threei}  unlike killjoy Holland
[11:53] {dptl} BBRY .35 snort?
01[11:53] {Threei}  no, I'd prefer straight-up short of .30 break
[11:54] {dptl} k
[11:54] {dino} spw
01[11:54] {Threei}  last island of sanity in the sea of crazy:
01[11:54] {Threei}  CA) Canada environmental minister Kent: Have no plans at the moment for a carbon tax; implementing a greenhouse emission policy
01[11:56] {Threei}  meanwhile, in the land of crazy, accidental survivors beg for mercy:
[11:56] {scottie} out + .16 tks Vad
01[11:56] {Threei}  US business roundtable strategy report indicates strong calls for Federal Govt to increase access to federal land for coal, oil, and natural gas- Requests approval of the Keystone XL pipeline - Notes the need for a streamlined process to approve energy projects - Calls on Federal Govt to respect state's rights in regulation of energy projects taking place on non federally owned lands - Requests Govt reevaluate ethanol mandate
01[11:56] {Threei}  :)
01[11:56] {Threei}  out 1/4 more
01[11:57] {Threei}  want to try for another push with last piece
[11:57] {dino} spw sm s .70
01[11:57] {Threei}  market finally found traction
03[11:57] * Retrieving #discussions modes...
[11:58] {dino} cov spw .30, +.40
01[11:59] {Threei}  now, look what happens to sovereign state rights when it gets itself in idiotic unions:
01[11:59] {Threei}  (PT) Portugal said to be planning to discuss lowering the corporate tax rate with the Troika during the official visi
[11:59] {dptl} BTU 22 short?
01[11:59] {Threei}  I doubt it
01[11:59] {Threei}  daily's overstretched
[11:59] {dptl} i see
01[11:59] {Threei}  not worth the risk, snapback can be vicious
01[12:00] {Threei}  actually I'd start looking for reversal setup on it
01[12:00] {Threei}  so, get this about Portugal?
01[12:00] {Threei}  they have to ask permissions from "troika" to change their corporate tax rate
01[12:00] {Threei}  within their own friggin country
01[12:04] {Threei} Long Setup:  BTU  .05 break
01[12:04] {Threei}  .98 stop
[12:05] {dino} spw sm s .90
01[12:06] {Threei}  that's what would happen to 22 short, dp
01[12:06] {Threei}  meanwhile, half out on bounce play
[12:08] {dino} cov spw .40, +.50
01[12:09] {Threei}  nice and easy
[12:09] {dptl} out btu ty
01[12:09] {Threei}  yw
01[12:10] {Threei}  very clean example of how one side gets overconfident, and overstays its welcome
01[12:10] {Threei}  4 red days in a row, runs into major support
01[12:10] {Threei}  no consalidation whatsoever, just tries to break support on the run,
01[12:10] {Threei}  perfect moment for a trap
01[12:11] {Threei}  be on the right side of the trap, you get such easy play
01[12:11] {Threei}  and folks who shorted 22 help your long by covering in a hurry
[12:23] {dptl} MAS .55 long?
01[12:24] {Threei}  can't tell
06[12:30] * Threei kicks BTU in the rear
[12:39] {dino} cg drop
[12:40] {dino} too fast
01[12:51] {Threei}  out BTU in full .25
01[12:51] {Threei}  as I said... nice and easy
[12:55] {dptl} JCP .05 short?
[12:55] {dptl} or .15 long?
01[12:55] {Threei}  latter is more plausible
01[12:59] {Threei}  hmmm... nemo, we need to find third one: http://goo.gl/PvuV3
[12:59] {nemo} why?
01[13:00] {Threei}  not sure
[13:00] {nemo} that's an issue
[13:13] {dino} ssys sm l .82
[13:17] {dino} out ssys .12, +.30
[13:19] {scottie} CCL s .95 ?
01[13:19] {Threei}  nah, too narrow
[13:20] {scottie} tks
[13:24] {scottie} out for an hour or two
01[13:24] {Threei}  sure, let us suffer alone
[13:25] {thomcbell} akam day high
[13:27] {thomcbell} aig 1:11 Vad - hehe
01[13:31] {Threei}  lol
01[13:42] {Threei} Short Setup: JPM  .50 breal
01[13:42] {Threei} Short Setup: FCX  32 break
01[13:43] {Threei}  JPM standard, 10 cents... FCX if stays under .06
[13:48] {ese} cya tomorrow......am just watchin anyway
01[13:48] {Threei}  take care ese
[13:49] {ese} cya vD
[13:49] {ese} VAD
[13:53] {thomcbell} long setup aig 37.58 break if holding 37.50
[13:53] {thomcbell} 1:2 target
[13:53] {nemo} How long does it take a grasshopper with a wooden leg to kick all the seeds out of a dill pickel?
[13:54] {nemo} Sorry, this is what happens when I dry out
[13:56] {dino} dds sm l .65
[13:58] {jdetente} have another drink nemo
[13:58] {dino} out dds .02, +.37
[13:58] {nemo} thanks for the permission
01[13:59] {Threei}  JPM 1:1
[13:59] {nemo} remember my spy short call at 10:08...look at this
[14:00] {thomcbell} it was perfect
[14:00] {thomcbell} it was when there were still many believers
01[14:00] {Threei}  Euro vs US Dollar Hits fresh session lows as it approaches 1.3100; lowest levels since Jan 10
[14:00] {dptl}  out ty
[14:00] {nemo} I'm a broken clocl...right twice a day
01[14:00] {Threei}  I think he knew Italy election exit polls, tbell
[14:02] {thomcbell} aig stopped obviously
01[14:03] {Threei}  JPM 1:2, 1/4 more out
01[14:04] {Threei}  I want my 1:3 finally
01[14:04] {Threei}  annoyed with all the scalping
[14:05] {dino} take what you can get
[14:05] {dino} vmc drop
01[14:05] {Threei}  I do... but ashes of prematurely closed positions knock on my heart
[14:05] {thomcbell} nice kiss of underside of the broken spy trendline on the daily this am
01[14:06] {Threei}  Euro continues drop
01[14:06] {Threei}  but might be forming double bottom here
[14:07] {dptl} NE .10 long?
01[14:08] {Threei}  I don't see an ything at .10
01[14:08] {Threei}  .15 is a downtrend break
01[14:08] {Threei}  .10 is random level
[14:09] {dptl} ok
[14:11] {dptl} what about JCP?
01[14:11] {Threei}  ?
[14:12] {dino} vac sm l .33
[14:12] {dptl} was thinking 22 short
01[14:13] {Threei}  well, it will help if you ask about particular setup instead of making me guess :)
01[14:13] {Threei}  no
01[14:13] {Threei}  euro double-botomed as I suggested it could
01[14:14] {Threei}  took SPY weith it, and many dumping stocvks started trying to reberse
01[14:14] {Threei}  reversal might fail but why would you try and short while it's unclear?
01[14:14] {Threei}  flow with the market, don't guess
01[14:15] {Threei}  look at euro, look at SPY
01[14:15] {Threei}  see what works as an engine today?
[14:16] {dptl} ok so NE .15 long is valid set up?
01[14:17] {Threei}  as long as you are OK with stop under 36, and see market continue strenghtening
[14:17] {dptl} i see
01[14:17] {Threei}  what would you want FXE to do to support your idea of a long?
[14:18] {dptl} break 130?
01[14:18] {Threei}  korreqt
01[14:19] {Threei}  SPY, desirably to follow with .90 break
01[14:19] {Threei}  if that all aligns and NE is still strong and follows with its own break, tAke it
01[14:19] {Threei}  see? so far Euro gainst strength,
01[14:20] {Threei}  SPY works hard to follow
01[14:20] {Threei}  I am not sure NE is the best candidate to play this bounce, but the general idea is this
01[14:21] {Threei}  determine martket action, define your road signs
01[14:21] {Threei}  today it's abviously all about Euro,
01[14:21] {Threei}  Italy election being main focus of attention
01[14:21] {Threei}  tomorrow it will be something else
01[14:21] {Threei}  be tuned in to these things, then you have a leading indicator so to speak
[14:22] {dptl} i see
01[14:22] {Threei}  alternatively, be dino - play stocks that live in their own world disregarding general market conditions
01[14:23] {Threei}  since their own news overpower everything else
[14:23] {dino} "better worlds" theory
01[14:24] {Threei}  but you need to pass tough examps to be dino... fight T-Rex on the ground, pterodactyl in the sky and plesiosaur under wanter
01[14:24] {Threei}  kill them all, and you are there
[14:25] {dino} as they say, when going thru hell...
01[14:25] {Threei}  drink a lot
[14:25] {dino} lol, keep going
01[14:25] {Threei}  :)
01[14:26] {Threei}  see, I converse with nemo too much
01[14:26] {Threei}  my versions of sentence ends start looking alcohol-soaked
[14:27] {dino} i can understand and relate to that, but there are times that we must trade sober
[14:27] {dino} as the saying goes....traders trade and risk is our business
[14:28] {nemo} hah, more risk in marriage
[14:29] {nemo} peanut galler suddenly quiet....
[14:29] {nemo} reality hurts...
[14:37] {dino} stz spike
01[14:39] {Threei}  Australia election, looks like change of govt too
01[14:39] {Threei}  moving to the right
[14:46] {dino} vac to .39, don't like mkt drop
[14:48] {nemo} finnies very weak, market trap door could open
[14:48] {nemo} finnies hit below s3 on daily, iwm there now, spy low is S2
[14:56] {dptl} VZ .95 long?
01[14:58] {Threei}  toughie... don't know
[15:10] {dino} esv working on the dec. gap
[15:19] {dino} filleds
01[15:20] {Threei} Short Setup: WFC  .15
01[15:20] {Threei}  If holds  .25
01[15:27] {Threei}  feels like good whoosh is too come
01[15:27] {Threei}  -o
01[15:29] {Threei}  1:12
01[15:29] {Threei}  1:1
[15:41] {dino} vac stop +.06
[15:43] {jdetente} wow VIX taking off like a rocket
[15:45] {dptl} have a good night all
[15:45] {dino} cya dp
01[15:49] {Threei}  come on WFC
01[15:49] {Threei}  give us 1:2 to close the day
01[15:49] {Threei}  yesss
01[15:49] {Threei}  good boy
01[15:49] {Threei}  1:2, over and out
01[15:50] {Threei}  not outstanding but profitable day, despite somewhat shaky start
01[15:50] {Threei}  getting my whoosh
01[15:51] {Threei}  very nice action, liking it
01[15:51] {Threei}  hopefully it's not one day selloff but serious trend
01[15:54] {Threei}  1:3... ugh
01[15:54] {Threei}  ok guys, thank you all
01[15:54] {Threei}  have a good evening, see you tomorrow
[15:54] {jdetente} have a good one Vad
[15:55] {dino} gn all
[16:00] {dino} 300 pt dji range day




COMING THIS WEEK

***COMING THIS WEEK***  by TradeTheNews

 *IN THE NEWS*

- UK Gilts and banks are expected to be in focus on Monday's session, after Moody's cut the UK's sovereign rating from Aaa to Aa1. There has been ongoing press debate about whether or not the downgrade has already been priced into Gilts. Additionally, following the move by Moody's, various UK press reports suggested that Chancellor Osborne could be pressured to relax his fiscal consolidation plan. Dealers are now expected to focus on the March 20th budget statement for further clarity on the UK's fiscal outlook, as the country's sovereign outlook remains negative at S&P and Fitch. On the growth front, the second estimate of the UK's Q4 GDP is due to be released on Wed Feb 27th. DMO is not schedule to hold any bond auctions this week.

- Italian elections: According to press reports the turnout for the elections may be lower than expected, amid reports that a large turnout could benefit Berlusconi and Grillo. An article in the FT suggested that many are expecting a close outcome. The polls are due to close at 3 pm (local time) on Monday and the results could come on Monday night or early Tuesday.

- BoJ Governor Position: Press reports have suggested that the head of the Asia Development Bank Haruhiko Kuroda is believed to be the frontrunner for the BoJ governor position. An official announcement could come later this week. According to prior reports, Kuroda has been a proponent of aggressive easing measures. Outgoing BoJ Gov Shirakawa is due to step down on March 19th.

- Fed Chair Bernanke is due to give his semi-annual economic testimony before Senate and House committees on Feb 26-27th, amid recent calls from some Fed officials for the QE program to be altered if economic conditions permit. Bernanke is also due to speak on Friday, March 1st. In comments made by Bernanke thus far in 2013 he has maintained that the US economy and labor market are recovering at only a slow pace. Additionally, Bernanke has downplayed any inflation risks related to the Fed's easing measures.

- US fiscal debate: In terms of the US sequester, President Obama is still said to be open to negotiations related to the matter, while Republicans have been less flexible (FT). The sequester-related fiscal cuts are due to take effect, starting on March 1.

***Looking Ahead***
Mon, Feb 25th
US: US Jan Chicago Fed National Activity Index, US Feb Dallas Fed Manufacturing Activity
Notable US Earnings: Before open: CTB, DNDN, FE, HTZ, LOW ; After the close: CZR, EROC, KND, OKE, OKS
Asia: Japan PM Abe to announce BoJ Gov selection any day this week; China HSBC Flash Manufacturing PMI
Notable Asia Earnings: NTT Data, MGX.AU
Europe: Italian Elections, UK Bond issuance
Notable EU Earnings: Associated British Foods, Bovis Homes, Dialight, Domino's Pizza, Hiscox, Pearson, Persimmon, Petra Diamonds, Senior, Sportingbet, Thorntons

Tues, Feb 26th
US: Bernanke speaks before the Senate, US Feb Consumer Confidence, US Jan New Home Sales, US Dec S&P/Case-Shiller Home Price Index
Notable US Earnings: Before open: AZO, CBRL, ECL, EME, EXPD, HD, HFC, M, PCS, RSH, SKS, SRE, TDS, THC, USM; After the close: DWA, EIX, FSLR, LYV, PCLN, RRC, SPN, TIVO, WFT
Asia: New Zealand Jan Trade Balance
Notable Asia Earnings: none seen
Europe: Riksbank Minutes
Notable EU Earnings: Croda International, Dechra Pharmaceuticals, Devro, Elementis, GKN, Goals Soccer Centres, Provident Financial, Redrow, Robert Walters, RSM Tenon, Whitbread, Wilmington, Fresenius, MedioBanca, BASF AG, Vivendi Universal, Lukoil OAO

Wed, Feb 27th
US: Bernanke speaks before the House, US Jan Durable Goods Orders; Durables Ex-Transportation, US Jan Pending Home Sales
Notable US Earnings: AAPL shareholder meeting, Before open: AES, BYD, CNP, DANG, HII, JOY, KOF, NRG, RRC. TGT, TJX; After the close: BWC, CBI, FMX, GEF, GRPN, JCP, LINTA, LTD, MYL, PLL, RJET
Asia: Australia Q4 Private Capital Expenditure; Private Sector Credit, New Zealand Feb ANZ Business Confidence; ANZ Activity Outlook
Notable Asia Earnings: Orascom Construction
Europe: Draghi speaks in Munich, France INSEE Consumer Confidence, EU Money Supply, Italy Business Confidence, UK GDP, EU Economic Sentiment
Notable EU Earnings: Anheuser-Busch InBev, Bouygues SA, Ingenico, Man Group, Capital Shopping, Centrica, Henderson, Interserve, ITV, Oxford Biomedica, Vesuvius, Weir

Thurs, Feb 28th
US: US Q4 Second Reading GDP; GDP Price Index, US Initial/Continuing Jobless Claims, US Feb Chicago Purchasing Manager
Notable US Earnings: Before open: BBY, BWC, CVC, KSS, PLL, SHLD, VC, WEN, WNR ; After the close: CRM, GPS, KOG, MCP, MDR, TEG, UHS
Asia: China Feb HSBC Manufacturing PMI, China Feb Manufacturing PMI, India Q4 Quarterly GDP
Notable Asia Earnings: none seen
Europe: Spain Consumer Prices, Germany Unemployment, EU HICP, Germany Consumer Prices
Notable EU Earnings: Aeroports de Paris, Bayer AG, Bankia, GDF Suez, Hochtief AG, Royal Bank of Scotland, Deutsche Telekom AG, Seadrill, Areva, Thales SA, Luxottica Group Spa, Kier, Man Group, Reed Elsevier

Fri, Feb 29th
US: Canada Q4 Quarterly GDP Annualized; Gross Domestic Product, US Jan PCE Deflator; PCE Core, US Feb Final U of Michigan Confidence, US Feb ISM Manufacturing; ISM Prices Paid
Notable US Earnings: Before open: FWLT, MGA, NA.CA, POM; After the close: none seen
Asia: India Feb Markit Manufacturing PMI
Notable Asia Earnings: none seen
Europe: Germany retail sales, Ireland PMI Manufacturing, EU, UK PMI, Italy Consumer Prices, UK Mortgage Approvals
Notable EU Earnings: Lloyds Banking, Rightmove, Taylor Wimpey, William Hill, WPP

TradeTheNews

Sunday, February 24, 2013

Nemo's Findings week of 2/24/2013

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

O.K. so we got a little rinse on Thursday....which we promptly recaptured 61.8% of it on Friday.  Checking for Chicken Littles.  I mentioned how the Semesterly R1 has been providing support for awhile.  This low did not get back to test it.  For those of you keeping score at home the low on Thursday in SPY, which basically tested the 23.6% retracement from the Dec 31 low to the Tuesday high.  So, IMHO, and we know how they are like a certain bodily orifice and they all stink, we now have reasonable support at the 150 level, in that whole numbers are always areas of support.  That 23.6 level is close enough for government work to the 150 level, and............  the SR1 at 149.48 which looks like the bottom floor of current support.

Also, IWM is also showing significant supports at the Semesterly R1 at 88.80ish, and finnies, by way of the FAS are showing significant support at the Yearly R1 at 140.80ish, with secondary support at the Quarterly R2 around 142.90ish.  Bonds in the TLT have been running in a $2 range since the end of January.  I'm also watching the VXX more closely.  It's showing signs of bottoming...we'll see.

Oh...one more thing for those of you keeping score at home.  Ya' know how they always say Price and Volume are king, and that all indicators are derivatives, yada, yada, yada?  Interesting thing on Thursday, which is not new by the way in these days of algo trading.  

So, there I was, watching the drop on Thursday, looking for clues as to the turn, especially that heralded volume.  SPY...nothin'   IWM...nothin'   FAS...nothin'  Now, I don't have the volume in the chart from Thursday, but trust me, I was looking.  There was no capitulation volume signals at the bottom, but notice the levels at which simultaneously IWM, SPY, and FAS bottomed.  Funny how that works....

The week that was:






The week that is:




 

Friday, February 22, 2013

Market Week Wrap-up

Market Week Wrap-up

TradeTheNews.com Weekly Market Update: Rally Stalls As FOMC Minutes Expose Fed Anxiety About Easy Policy


- US equity markets were more or less flat for a second consecutive week as market participants kept their fingers on the pause button after a three month rally. In Europe, jitters about the Italian political situation threatened to move the eurozone crisis back to center stage. Weak February Eurozone and French manufacturing PMI data were offset by German PMI data returning to growth for the first time in a year and the February IFO survey indicating continued improvement. In the US, traders fixated on the minutes of the January FOMC meeting, which detailed the sharpening debate over when to begin withdrawing the punchbowl. The implosion in metals did not let up, with Comex gold ending the week at a seven-month low around $1,573, and copper futures diving nearly 6% to test two-month lows. China dragged down Asian markets as Beijing discussed stronger measures to curb speculation in property markets; the Shanghai Composite fell close to 5% on the week. US markets were closed on Monday for President's Day. For the week, the DJIA gained 0.1%, the S&P 500 lost 0.3% and the Nasdaq dipped 0.9%.

- The FOMC minutes certainly did not signal any material change in Fed policy, however the hawks are definitely stirring as anxiety grows on the committee about monthly bond purchases. The mintes read that "an ongoing evaluation of the efficacy, costs, and risks of asset purchases might well lead the committee to taper or end its purchases before it judged that a substantial improvement in the outlook for the labor market had occurred." Analysts say the skeptical tone in the minutes suggest that the debate has shifted to the question of when to scale back purchases rather than when to end them.

- Managed care names moved on Tuesday after The Centers for Medicare and Medicaid Services (CMS) offered new Medicare Advantage rate guidance. Last Friday after the close, CMS published preliminary 2014 reimbursement rates for public comment. Humana commented that the preliminary rates would drive a mid-single-digit decline in the company's Medicare Advantage payment rates, while a Citigroup analyst warned the proposals would reduce payments to plans by 7-8%. Most of the managed care names fell around 4% after the announcement, while Humana dropped 8%.

- Walmart offered a mixed Q4 report. Earnings grew solidly and beat expectations but revenue was lower than expected. The company confirmed that February comps were weak (in line with a leaked internal memo out last week), blaming a delay in income tax refunds, but it also said that comps had normalized by mid-month. In other retail earnings, both Nordstroms and Abercrombie headed lower after solid headline numbers but very weak FY13 forecasts.

- The January retail sales data out last week showed little indication that the withdrawal of the payroll tax cut was holding back consumer spending. Retail firms offered commentary on the issue this week. Walmart made lemons into lemonade saying lower paychecks, plus higher gasoline prices, only made their pricing strategy more attractive for consumers. Darden said it is facing "difficult headwinds" from increased payroll taxes and rising gasoline prices. Clorox said it would see a modest impact from the payroll tax change. Grocer Safeway is expecting no sales decline from the change.

- While there were no more megadeals announced this week, the heightened pace of M&A continues. Office Depot reached a deal to combine with rival OfficeMax in a $1.2B all-stock merger of equals. OfficeMax shareholders will get 2.69 ODP shares for each share they own, valuing the company at $13.50/share. Prepaid gift card firm NetSpend agreed to be acquired by TeleCommunications Systems for $16/share, in a total deal valued at $1.4B. KKR reportedly submitted a final $75/share bid to acquire Gardner Denver, whose board will meet next week in order to consider whether to accept the offer. Shares of mining equipment firm Joy Global jumped on intensified rumors that a deal to acquire the firm was in the works, although Joy's management dismissed the speculation.

- The euro weakened due to headwinds from another round of terrible European economic data and the uncertainty around the impending elections in Italy. Italians go to the polls on February 24th and 25th to elect a new government. Four mutually antagonistic groups are in the running: Bersani's Democratic Party, Silvio Berlusconi's allies, Beppe Grillo's Five-Star Movement and forces allied with current technocratic PM Monti. Two weeks ago, yields on Italian 10-year government debt surged on news that Berlusconi was gaining in the polls on campaign promises of rolling back many austerity measures, although the gains were reversed last week. Italian benchmark yields rose again this week, although that likely had more to do with risk-off trading in global markets. The press also shined the light on Grillo's left-leaning populists this week -- Grillo has said he supports renegotiating Italy's debt obligations with creditors.

- The greenback saw a mid-week surge after the release of the FOMC minutes, sending the US Dollar Index to its highest level since last September. EUR/USD pushed to six-week lows in the wake of the terrible economic data out of Europe, the uncertain Italian situation and news that France may be facing an EU "excess deficit procedure." On Friday, European banks repaid €61.1B which was below expectations of €130B, further weakening the euro.

- The pound extended its downtrend this week, with GBP/USD marking a two-and-a-half year low. BoE Governor Weale said a weaker pound might be needed to narrow the UK current account deficit and there were rumors of an imminent UK sovereign downgrade (though this would be especially unlikely ahead of the UK spring budget, which is due on March 20th). However, the BoE minutes countered this dovish tone with news that the most recent vote to increase QE narrowed to 6-3 versus the 8-1 votes seen over the past three months. The MPC also considered cutting the repo rate nearer to zero, buying other assets, and changing the interest paid on reserves. The vote put Governor King in the minority for only the fourth time in his 10 years as the BoE chief. GBP/USD tested 1.5310 following the release of the minutes. Cable elected stops in thin trade which fueled a push under 1.5135.

- The yen saw its lowest levels of the week against the USD on Monday after the official G20 communique did not specifically mention Japan's policies. However, USD/JPY is having trouble getting above the 95 handle. PM Abe and Finance Minister Aso seemed at odds: Abe said that if the BoJ was unable to achieve the 2% inflation target the government would work to rewrite the central banking law, while Aso later said the government would not considering changing the law. There were also reports that the two men disagreed over candidates to replace Shirakawa as BoJ governor, with the announcement due out next week. Difficulties in USD/JPY breaching the 95 handle helped trigger some squaring of JPY shorts.




TradeTheNews