Apr 29 2013

Slow creep up day with low volume, not our trading environment. Not many setups worked as follow-through is minimal on such days, so finished in the red.

Session Time: Mon Apr 29 00:00:00 2013
[08:56] {nemo} check email vad
01[09:01] {Threei}  I don't want to... it would be an admission that Monday is here and we have to work. And I refuse to admit that
[09:02] {nemo} oh, grow up
01[09:02] {Threei}  no, I'll live in denial
[09:02] {nemo} I sent you a picture of the newest member of the family
[09:03] {stevw} how is everyone on this beautiful Monday morning?
[09:03] {nemo} I hate this guy
[09:03] {stevw} lol
[09:03] {nemo} nothin' personal of course
01[09:04] {Threei}  good way to poke nemo, stev :)
[09:04] {stevw} what can I say - I'm a morning person and I'm quite enjoying this new chapter in my life as a trader
[09:04] {patel} Good Morning
[09:04] {cipher} gm
[09:04] {nemo} whoa, birdbrain is back
01[09:05] {Threei}  patel, cipher :)
[09:10] {Les} whatever Nemo said just ignore him, he's a crank
[09:10] {Les} morning all
01[09:10] {Threei}  Les :)
[09:11] {nemo} Les...open your email
[09:11] {nemo} everybody else, block your ears
[09:12] {dino} gm
01[09:12] {Threei}  dino :)
[09:13] {Les} heh?
[09:13] {Les} bwaahahahahahaaa
[09:13] {Les} papa all over again
[09:13] {nemo} yeah, naming it Redux
[09:13] {nemo} don't know if it's gonna live yet
[09:17] {Les} I spy with my little eye a lower high in uncle buck? Or are we just range bound...
[09:17] {Les} rhetorical question
[09:20] {Will49} gm
01[09:20] {Threei}  will :)
01[09:21] {Threei}  LVS in red
[09:24] {Alexs} gm
[09:24] {nemo} sina dino
01[09:24] {Threei}  alex :)
[09:24] {nemo} 60.50 23.6 retrace
01[09:27] {Threei}  no clear opening play, will wait a few min
01[09:27] {Threei}  LVS on radar for short, but its volatility on the open is unbearable, gotta let it settle down
[09:30] {jdetente} gm
01[09:30] {Threei}  jd :)
[09:30] {thomcbell} gnw on long watch
[09:31] {Will49} ugly spread LVS
[09:31] {nemo} want ungly spread...sina
01[09:31] {Threei}  see above
[09:31] {nemo} want plain ugly...see Les
01[09:32] {Threei} Short Setup: GDX  30 break
01[09:32] {Threei}  If holds  .10
[09:32] {Les} I dunno. that ugly spread just made near $1
01[09:32] {Threei}  change to .15 break
01[09:32] {Threei}  If holds  .25
01[09:34] {Threei}  no secondary entry, touched too close to 1:1
[09:34] {Les} k missed .13
01[09:34] {Threei}  1:1 if you caught it
[09:35] {thomcbell} thc is retarded here
01[09:35] {Threei}  that was one mighty drop, LVS
01[09:36] {Threei}  1:2 GDX
[09:37] {Les} GDX aaargh
01[09:37] {Threei}  1:3, close it here
01[09:37] {Threei} Long Setup:  GDX  .85 break
01[09:37] {Threei}  If holds  .80
[09:40] {thomcbell} thc 45.57 break half lot
[09:41] {thomcbell} if holding 45.90
[09:42] {thomcbell} aig looking for db
[09:42] {dino} thc sm s .61
[09:42] {thomcbell} thc not a scalp for me
01[09:43] {Threei} Long Setup:  C  .91 break
01[09:43] {Threei}  If holds  .85
01[09:44] {Threei}  no go GDX
[09:44] {thomcbell} aig no go - still watching
01[09:45] {Threei} Short Setup: SLW  .75 break
01[09:45] {Threei}  If holds  .85
[09:46] {dino} cov thc .05, +.56 ty tbell
01[09:46] {Threei}  wtg
[09:47] {thomcbell} covered 1/4 thc around here at 45
01[09:47] {Threei}  no go C
01[09:47] {Threei}  longs are not in fashion
[09:48] {dino} wtg tbell
[09:48] {thomcbell} another 1/4 in here in 44.60's
01[09:49] {Threei}  trail SLW to .81
01[09:50] {Threei}  not liking market's fluctuations
01[09:50] {Threei}  patternless
01[09:50] {Threei}  often happens on Monday morning
[09:52] {nemo} 57 support sina
[09:52] {thomcbell} long setup aig 40.62 break if holding 40.52
01[09:54] {Threei} Short Setup: LVS  55 break hl
01[09:54] {Threei}  If holds  .10
[09:56] {thomcbell} thc flat
01[09:56] {Threei}  stubborn support .98
01[09:57] {Threei}  finally
01[09:57] {Threei}  1:1
[10:00] {thomcbell} aig 1:1
01[10:01] {Threei}  *(US) MAR PENDING HOME SALES M/M: 1.5% V 1.0%E; Y/Y: 5.8% V 6.1%E
01[10:02] {Threei}  1:2
01[10:02] {Threei}  what the deuce?
01[10:05] {Threei}  seriously, what the hevck just happened? no news at all for this spike
[10:05] {nemo} homes, just need an excuse
01[10:06] {Threei}  what homes, 3 minutes from numbers
01[10:06] {Threei}  such sudden spikes don't wait 3 min after news, they happen right away
[10:06] {nemo} was at 10
01[10:06] {Threei}  numbers yes, spike at 10:03
[10:06] {Les} flushed shorts holding 159
[10:06] {Les} ass top
[10:07] {thomcbell} aig 1:2 and out
[10:07] {cipher} THRX L .49
[10:07] {nemo} on algo nothing but green
[10:08] {cipher} SBNY L .03
01[10:08] {Threei}  SPY goes for 160
[10:08] {nemo} vx dropping...
[10:12] {Les} C long .00?
[10:12] {Les} nah
01[10:12] {Threei} Short Setup: TROW  .98 break
01[10:13] {Threei}  If holds  .09
01[10:13] {Threei}  .08, sorry
01[10:14] {Threei}  slow one, don't take it if not willing to wait
[10:14] {Les} C hsort .95 holding .05?
[10:14] {Les} could turn into c&h
01[10:15] {Threei}  S rather looks like long to me
01[10:15] {Threei}  C
[10:15] {Les} k
[10:16] {cipher} out THRX .82 +.33
[10:16] {dino} wyn sm l .93
[10:16] {thomcbell} short stup possible here aig
[10:16] {thomcbell} waitin g
01[10:20] {Threei} Long Setup:  GG  .45 break
01[10:21] {Threei}  If holds  .35
01[10:22] {Threei}  Invalidated
[10:22] {cipher} out SBNY .10 +.07
[10:24] {Les} JPM 49 break long?
[10:24] {Les} holdgin .95?
01[10:25] {Threei}  yes
[10:25] {thomcbell} thc was a bad cover
[10:27] {dino} ditto
01[10:32] {Threei}  not liking today's market
01[10:33] {Threei}  slim pickings
[10:33] {dino} same
[10:36] {thomcbell} kors long setup 57.21 long break half lot
01[10:37] {Threei} Long Setup:  CAT  .70 break
01[10:37] {Threei}  If holds  .60
[10:41] {thomcbell} jca looks a bit vulnerable here too
[10:41] {thomcbell} hca
01[10:42] {Threei}  Invalidated
[10:42] {jdetente} CAT triggered didn't it?
01[10:42] {Threei}  it did?
01[10:42] {Threei}  must have looked away
[10:43] {jdetente} yeah hit .73
[10:43] {nemo} iwm bull flagging
[10:43] {thomcbell} kors invalid
[10:44] {nemo} fas about to break highs
01[10:44] {Threei}  crawl up and stall market... one I hate the most
[10:45] {nemo} vodka then
01[10:45] {Threei}  did we have it too easy for too long? :)
[10:45] {Les} or tight ass day signalling change may be coming...
[10:45] {Will49} very poetic...crawl up and stall :)
[10:45] {nemo} sounds like Les' sex life
[10:45] {Les} I like crawl up and vomit
[10:46] {Will49} LOL
[10:46] {Les} not bad not bad
[10:46] {nemo} Redux is inspiring me
[10:46] {nemo} although, at the moment, all I'm seeing is the ass-end
[10:50] {dino} wyn stop -82 -.11
[10:54] {stevw} CAT interesting? symmetrical continuation triangle? c&h?
01[10:55] {Threei}  well, it's the same setup that failed last time
01[10:55] {Threei}  don't know
01[10:55] {Threei}  may work second time arond, may fail again
01[10:56] {Threei}  this is what patternless days are
[10:57] {Les} tight stop on LVS bounce at 55 might offer decent r/r
[11:02] {jdetente} sure is patternless. same failure on CAT again.
[11:03] {thomcbell} thc looks like possible 44 break short
[11:03] {thomcbell} if holding 44.10
01[11:03] {Threei}  yeah, that's why I don't want to be stubborn and try to break the wall with my forehead
[11:04] {dino} auxl sm l .15 stop lod
[11:04] {thomcbell} thc invalid
[11:05] {nemo} didn't expect to be nursemaiding a rabbit through a syringe...sheesh...gonna' ruin my reputation
[11:05] {jdetente} used to doing it all natural?
[11:05] {Les} what u feed it?
[11:06] {Les} feeding
[11:06] {Will49} nice pic of rabbit in your weekend report
[11:06] {dino} lol
[11:06] {nemo} that's bunny...Redux just showed up last night...currently Heavy Cream...nephew going for the specialty stuff after school
[11:07] {nemo} jdetente..not bad...remind me to kill you later
[11:07] {cipher} NXST L .20
[11:07] {nemo} Vad...post picture of Redux
[11:08] {dino} whats redux?
[11:08] {thomcbell} thc 2 sided obviously
[11:08] {nemo} new one's name
[11:08] {thomcbell} wow
[11:08] {dino} another bunny?
[11:08] {nemo} yeah, nephew found a baby in the middle of the street last night on the way home from his girlfriends'
[11:09] {nemo} Bunny was apoplectic..she's never been around another rabbit
[11:09] {nemo} The baby was trying to nurse off her...she was spastic
[11:09] {Will49} are they the same sex?
[11:09] {nemo} don't think so...Redux gonna' have to find a home
[11:09] {nemo} that's all I need...Night of the Lepus
[11:10] {Will49} LOL
[11:10] {dino} cyt sm l .50
[11:10] {thomcbell} looting for a double bottom somehwere near pivot in kors
[11:13] {Les} looking at MON following this EU decision to ban neonicotinoids. might be lower high forming here following the 25th
01[11:14] {Threei} Long Setup:  NFX  .10 break
[11:14] {Les} 15 min time frame
[11:15] {thomcbell} kors still on left side
[11:16] {Les} daily first high 11 April could be making lower high here
[11:23] {dino} out cyt .01, +.51
[11:24] {cipher} wtg
[11:24] {dino} ty
[11:26] {dino} auxl stuck, stop to .99
01[11:26] {Threei}  NFX stop .04
01[11:28] {Threei}  1:1
[11:29] {thomcbell} kors 56.20 break if holding 56.10
[11:29] {thomcbell} invalid
[11:29] {thomcbell} will still watch for similar setup
[11:30] {thomcbell} probably has one more flush in it
[11:31] {Les} CYT
[11:32] {cipher} NXST L .15
[11:33] {cipher} KORS L.10
[11:35] {dino} auxl stop -.17
[11:38] {cipher} KORS stopped .14 +.04
[11:39] {nemo} kors long setup here
01[11:41] {Threei} Long Setup:  GDX  .10 breal
01[11:41] {Threei}  aggressive for .20
01[11:46] {Threei}  volume is 21% below 3-month ave for NYSE, 17 for NASDAQ
01[11:46] {Threei}  that's where lack of follow-through comes from
01[11:47] {Threei}  our winning percentage goes through the roof when we have decent volume and retreats when volume dries up
[11:48] {thomcbell} thc again
[11:48] {thomcbell} looks vulnerable
[11:53] {dino} taking break
[11:54] {nemo} sina might be bottoming
[11:54] {thomcbell} kors not bad cipher
[11:55] {cipher} ACAD L.20
[11:55] {nemo} cipher got out at .14
[11:57] {cipher} yeah bailed out
[11:57] {nemo} yeah, hard to hang out in the drift
01[11:57] {Threei}  listless
01[11:57] {Threei}  breakouts don't work, reversals don't wprk
01[11:58] {Threei}  if GDX falis, aggressive doesn't work either
01[11:58] {Threei}  what else is left?
[11:58] {Will49} vodka
01[11:58] {Threei}  well, yeah... lol
[11:58] {Will49} or BC flag
01[11:59] {Threei}  meh
[11:59] {Will49} speaking of BC flag...is dp still with us?
[12:00] {nemo} back in rehab
[12:00] {Will49} :)
[12:00] {nemo} all his friends are there, he gets lonely
[12:00] {nemo} GMCR coming into bounce territory
[12:03] {cipher} SHLD L .88
01[12:05] {Threei}  here comes next SPY push
[12:06] {cipher} out ACAD .31 +.11
[12:11] {cipher} out SHLD flat
01[12:12] {Threei} Long Setup:  TNA  .15 break
01[12:12] {Threei}  If holds  .05
01[12:24] {Threei}  ok TNA, break .20 and move your frikin butt
01[12:28] {Threei}  this one is my personal present to nemo:
01[12:29] {Threei}  Alcohol doesn't help you find an answer. It helps forget the question.
01[12:37] {Threei}  sheesh
06[12:37] * Threei kicks TNA un the rear
[12:38] {Les} THC might, MIGHT be breaking its range here
[12:43] {Les} out tna flat dinner time
[12:56] {cipher} MON S .31
[12:56] {jdetente} what a day...to stay in bed.
01[12:58] {Threei}  no kidding
[12:59] {dino} indeed. most activity i had was walking dog in the rain this morning
[12:59] {Les} :) how's weather your way dino?
[13:00] {dino} 50 f and rain
01[13:00] {Threei} Short Setup: GG  .85 break
01[13:00] {Threei}  If holds  .95
[13:02] {dino} chh db?
[13:02] {cipher} NXST S .00
[13:03] {cipher} cov .62 +.38
[13:03] {dino} nice
[13:03] {cipher} TY
[13:03] {cipher} cov MON .21 +.10
01[13:03] {Threei}  CHH is a nightmare :)
[13:06] {cipher} NXST L.75
01[13:06] {Threei}  GLD spikes
01[13:06] {Threei}  makes GG a questionable short
[13:07] {nemo} nsc bounce area
[13:09] {stevw} C on a 47 break or are we too much into a midday drift?
[13:10] {backman} GG ...tighten stop?
01[13:10] {Threei}  I would still take this C break, stev
01[13:10] {Threei}  bman, yes but only when it makes new low
01[13:10] {Threei}  then tighten to .91
[13:11] {backman} tu
[13:12] {cipher} ANGI L .37
[13:16] {cipher} out NXST .06 +.31
[13:16] {cipher} ANGI stopped .40 +.03
01[13:19] {Threei}  if GG doesn't work, I'll my keyboard
01[13:19] {Threei}  I'll eat my keyboard
[13:20] {Les} got a vid cam setup on yer pc?
01[13:20] {Threei}  no
01[13:20] {Threei}  I am a luddite
[13:20] {Les} :(
[13:22] {jdetente} please beat GG over the head
[13:22] {jdetente} (Les too)
[13:22] {jdetente} hehe
06[13:22] * Threei hits GG over the head with 2x4
01[13:23] {Threei}  hey, violence works
01[13:23] {Threei}  believe it or not, 1:1
[13:23] {jdetente} ahh perfect timing
[13:23] {Les} thank god for gold miners
[13:24] {Les} nice jd. Nemo wannabe I label you
[13:25] {nemo} ?
[13:25] {nemo} o.k. if NSC gonna' bounce should be here
[13:26] {nemo} well, maybe .40
01[13:26] {Threei}  not that it omptoves the day much but still: over this weekend I have recieved over 1200 likes on one my photos. First time ever seeing such numbers
[13:26] {Les} whichn one
01[13:27] {Threei}  http://goo.gl/8EO4Q
[13:28] {Les} guessing its yer canuck eastern neighbours wishing they were somewhere else :)
01[13:29] {Threei}  nope, that was worldwide
[13:29] {Les} cool
01[13:29] {Threei}  come on C
01[13:29] {Threei}  break and run
01[13:30] {Threei}  ummm... break and enter?
[13:30] {jdetente} and then GG can continue to break down
[13:33] {cipher} ITRI L .18
[13:34] {nemo} gmcr at morning breakout level
[13:35] {dino} zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz
01[13:35] {Threei}  continuing with threats that seem to be working: if C doesn't work, I'll cut my wrist with banana
[13:36] {nemo} I'm going to check on Redux
[13:38] {cipher} ITRI stopped .15 -.03
[13:43] {Les} SPY smiley face chart pattern
01[13:45] {Threei}  I know only one smiley face chart pattern: one that works
[13:45] {Les} not bad
[13:45] {Les} maybe a handle to add to that cup
01[13:45] {Threei}  today most are "shrugging shoulders in irritated resignation" chart pattern
[13:46] {jdetente} or full moon patterns...that's what the stocks are showing us at least
[13:46] {Les} oughta make that one official
01[13:48] {Threei}  hey, C is no moon
[13:48] {jdetente} I didn't say all stocks
[13:48] {jdetente} just the ones that don't work haha
01[13:48] {Threei}  C is your friendly wholesome banker, with morals, ethics and caring attitude
01[13:49] {Threei}  now wait for me while I stop laughing uncontrollably
[13:49] {Les} pathological is the term used in public recently I think
01[13:49] {Threei}  that's wrong word
01[13:49] {Threei}  "pathological nature of Wall Street" is oxymoron
[13:50] {Les} heh you're right
01[13:50] {Threei}  if it's a nature it can't be pathologica
[13:52] {Les} no, but pathologization can be used to define behaviour and is synonymous with disease... quoting wiki
[13:55] {dino} rit
01[13:55] {Threei}  well, either wall street's nature is patholofical from the point of view of an outsider, or its nature is normal and it deviated from its nature... which one is it?
[13:55] {stevw} TNA seems to want to have another go at it
01[13:56] {Threei}  yeah, SPY prepares breakout, so TNA follows
[13:57] {jdetente} C stuck in the mud
[13:57] {jdetente} giving us the half moon
[13:58] {stevw} 47 was firm resistance, maybe it'll be good support now
[14:02] {stevw} or not
06[14:03] * Threei is reaching for banana
01[14:09] {Threei}  keeping stop at .94
[14:15] {dino} rit sm l .34
[14:16] {jdetente} full moon
01[14:16] {Threei}  well, it's a half-sized stop
01[14:16] {Threei}  so I am not sure how to qualify it
[14:17] {nemo} these are index short setups, but I don't trust them
01[14:22] {Threei} Short Setup: GLD  .95 break
01[14:23] {Threei}  If holds  .05
01[14:25] {Threei}  Invalidated
01[14:31] {Threei} Short Setup: GLD  .10 break
01[14:37] {Threei}  1:1
[14:50] {thomcbell} kors small long here 55.99 stop
[14:53] {dino} lote crazy
[14:55] {thomcbell} how did u come across that one
[14:55] {nemo} don't tell him about the chickens
[14:55] {dino} kicking across my 07 scanner
[14:56] {dino} the street.com says its a fraud
[14:56] {dino} can't borrow
[15:01] {Les} strange stock, t&s and level 2 LOTE
01[15:02] {Threei}  my newsfeed doesn't even show it as a real stock, lol
01[15:04] {Threei}  can this really happen that we'd got more than a scalp on GLD?
01[15:04] {Threei}  it better. 'cause I am still working on the banana cutting the wrist
[15:08] {cipher} UNXL L .14
[15:11] {cipher} out .49 +.35
[15:11] {Les} miners returning to morning lows
[15:17] {dino} aegr
[15:17] {Les} small bounce may produce downsloaping h&s on DE. may just drop lower
[15:20] {dino} aegr sm s .72
[15:20] {nemo} where's vwap Les?
[15:20] {Les} why?
[15:21] {Les} PVH might interst you dino
01[15:22] {Threei}  nope, no miracles - merely a scalp GLD
[15:22] {Les} better call your fruit merchant for spare bananas
[15:23] {Les} there, downsloping h&s on DE. let's see what this does
[15:23] {Les} PVH short .40 holding .50?
01[15:24] {Threei}  hl
01[15:24] {Threei}  volatile one
[15:26] {dino} cov aegr .26, +.46
[15:28] {dino} out rit .20, -.14
[15:29] {dino} aegr again spike
[15:35] {Les} banksters obviously haven't been clued into this rally
[15:36] {Les} not a word nemo
[15:36] {nemo} o.k. Les, I'll give you a mulligan
01[15:36] {Threei}  probably worth a try, C short
01[15:37] {Threei} Short Setup: C  .75 break
[15:38] {dino} vc drop
[15:42] {dino} aegr something else
[15:45] {Les} DE pays well from its breakdown at .25
01[15:47] {Threei}  time's running out
[15:47] {Les} PVH 1:1
01[15:48] {Threei}  yup
01[15:48] {Threei}  well, that wasn't our day overall
[15:48] {Les} DE 1:3, PVH 1:2 really gotta wait for the final hour on such a day
[15:49] {Les} knowing when to stop is what trips me up
[15:49] {dino} gj les
[15:51] {Les} too much damage done prior dino, something to work on
[15:51] {cipher} AEGR L .60
[15:51] {cipher} out .79
[15:51] {dino} bummer. i was 3 of 6, but my wins were 2x-3x my stops, so overall ok
01[15:52] {Threei}  that's how our Friday went
[15:52] {Les} c u's for turnaround tuesday
[15:52] {Will49} cheers guys....see you tomorrow
01[15:52] {Threei}  today, just too low percentage of wins
01[15:52] {Threei}  aka clusterf*&k
[15:52] {dino} lol
[15:53] {dino} damn cipher, i was going to short aegr again, but saw him go long
[15:53] {dino} don't like to go againnst his setups
[15:54] {dino} calling it a day, thanks all
[15:54] {cipher} VPRT L.29
01[15:56] {Threei}  thank you all, have a good evening
01[15:56] {Threei}  qwe will get them tomorrow
[15:57] {cipher} stopped .32 +.03
[15:58] {jdetente} gn all

Nemo's Findings week of 4/28/2013

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

Another fun week in the markets...well, if you consider flossing with barbed wire fun...

Bunny says...The week that was:

  

In the top left panel we again have the vxx.   Notice how, if anything, the sense of fear in the market dropped.  Yeah, a little insurance was bought on Friday, but nothing to tweet home about.

The FAS actually made new highs for the year yesterday before that little news story about the German courts, so I ran a fib retrace from the most recent swing low to yesterday's swing high and did so for IWM and SPY also.  As you can see, the indexes retraced basically to the 23.6% levels, with the IWM finishing at the Monthly Pivot and vwap, the SPY basicaly on vwap and the finnies, a hair below  (I hear the echo, "close enough for government work.") 

In general, we finished above the weekly pivots in the indexes.  No news was really sold.  I'm not so sure I'd read much into the drop in AMZN after bad earnings.  The Feds are about to remove the on-line tax holiday, so that's one competitive advantage going the way of the dinosaur.  Looking over the indexes the only things that look iffy are the transports.  Also, basic materials have basically been in a box since January.  

Btw...those blue...ahem....turquoise....boxes  are gaps.  As we can see, IWM stopped at a gap, and there is a gap below from the 23rd.  If we do have weakness, look for those gaps to fill.  One could argue the tail down on SPY filled the gap earlier in the week, but that was the AP hacked tweet about Obamabomb, so, I'm giving it a mulligan.

My thought process for the next week.  Btw...if you read the following and agree, seek immediate psychiatric attention...

Anyway, as a prologue, I was saying Friday how I thought they were shooting for a doji on the day.  Lo and behold, what did we get on the indexes....a doji.   Why?  Well, if we look at the slightly larger picture, today was the last day for trades to clear into the end of the month.  So, if there is to be weakness, the need for window dressing was going to keep price pretty tight.  Now, I realize correlation is not causation, but that's the way it worked out today.  For next week, well, for the mutual fund managers to get the high numbers for money coming in on the first, they need to keep the indexes up.  So, and I realize this is not really going out on a limb but, the greater probability is higher next week.  If we do start to get a good pullback, and there has been no exogenous news as the cause, then the big money is not giving the mutual fund managers their gift.  That could be significant. Think about it...If you are screwing your first cousins (not in the biblical sense, mind you), then you must think the fecal matter is about to hit the ventilator.  After me, you come first.

Once the money is in for the month, we're also on the downside of the earnings reporting season and moving into May.  So, we have the SIMAGA setup coming.  How much of a downside effect, if at all, that will have on the market.  Well, you have a greater likelihood of staying married to the same person for life than I would for predicting market direction.  

Anyway, the week that is: 

  

Market Week Wrap-up

TradeTheNews.com  Weekly Market Update: Spring Swoon Prompts Talk of More Easing

- Events this week once again showed how in the new world of QE and central bank "puts", bad news can be good news. In Europe, the German preliminary April manufacturing PMI fell below 50, indicating the first contraction in five months in Europe's only remaining engine of growth. Germany's April IFO survey was also notably weak. In the US, the March durable goods and advance GDP readings were subpar. In China, the April HSBC flash PMI data fell to 50.5, missing expectations, and there were signs of trouble in both import and export data. Earnings in Europe and the US were not especially strong: while Q1 profits have been ok, revenue outlooks for Q2 and Q3 have been downgraded. Nevertheless, major global equity indices (with the exception of the Shanghai composite) racked up good gains on the week, with European bourses up an average of 4 percent in anticipation of the ECB flexing its muscles again. After the weak European data, Commerzbank, Deutsche Bank, Barclays, JP Morgan and Nomura all said that an ECB rate cut of 25 bps is expected at the May meeting next week. Meanwhile talk of the Fed tapering asset purchases this year has quieted. The one bright spot was the UK, where advance Q1 GDP came in at +0.3% q/q, two-tenths higher than expected. Gold has slowly regained ground lost in the first half of April, with spot gold closing out the week around $1,474, a 40% retracement of its April losses. For the week, the DJIA added 1.1%, the S&P 500 gained 1.7% and the Nasdaq rose 2.3%.

- There were ominous signs in both the March durable goods orders report and Q1 advance GDP. The headline -5.7% durables figure was the lowest reading since last August, while February's +5.7% figure was revised lower to +4.3%. The first reading of US GDP was weaker than expected at +2.5%, although it was a big step up from Q4's anemic +0.4%. The consumer spending component of the report was +3.2%, beating estimates and growing at the fastest since late 2010. A big bump up in imports and declines in government spending impaired GDP, while inventory growth and especially farm inventories formed a large part of the positive growth.

- US energy giants Exxon, Conoco and Chevron were impacted by lower crude prices. Exxon's earnings grew barely 1% y/y, while Chevron and Conoco saw profits fall y/y. Strong downstream profits from Exxon and Chevron helped make up the difference, while Conoco, which recently spun off its downstream operations, fared less well.

- Caterpillar missed top- and bottom-line expectations and executives made very mixed comments about business in key US and Chinese markets. The firm cut its FY13 guidance, blaming lower mining demand in an environment of falling commodities prices. However the CEO said this is the first time in years the company is beginning to see stability around the world.

- The sentiment headed into Apple's Q1 report had been very bad for months, so it was no surprise when the firm posted its first quarterly y/y profit decline in over a decade. Investors were not very impressed with Apple's announcement that it would return $100B of its cash to shareholders over the next three years through an increased dividend and share buyback (using borrowed money so it won't have to face a tax penalty from repatriation). Shares had bottomed out from their seven-month slide below $400 just ahead of earnings report, and even with the steep after-hours sell-off on Tuesday, actually gained 2% on the week.

- Shares of Amazon dropped 6% as investors looked past the firm's Q1 headline earnings growth and EPS beat to focus on weaker Q2 guidance. Revenue and income guidance for Q2 was markedly weaker than expected. The firm's gross margin expanded nicely on a y/y basis, however operating margins were narrower both y/y and on a sequential basis.

- Airlines had a turbulent week as the sequester's impact on the FAA snarled traffic across the US, prompting Congress to rapidly pass a special selective withdrawal of the FAA funding cuts. On the earnings front, airline earnings were mixed, but carriers universally benefitted from rock-bottom capacity and lower fuel costs.

- EUR/USD was well contained within recent ranges this week, with the pair gravitating to the lower end of the 1.30 handle. In the wake of the disappointing German PMI and IFO data, ECB members Weidmann, Asmussen, Nowotny, Knot, Bonnici and Constancio widely discussed the pros and cons of more interest rate reductions ahead of next Thursday's policy setting meeting. The Bank of Spain commented that the ECB was tracking economic data with "special attention." Analysts believe that all this commentary clearly suggests that more ECB cuts are on tap if the growth outlook deteriorates further. EUR/USD very briefly touched 3-week lows on Wednesday around 1.2953 but held above 200-day moving average of 1.2936 which now appeared to be formable support.

- Yields on Italian government bonds continued their steady declines as politicians in Rome inched toward forming a new government. On Tuesday, ten-year yields dipped below 4% for the first time since November 2010 after 87-year old President Giorgio Napolitano said he would stay on for another term. Center-left leader Luigi Bersani had failed to gain support for his Presidential candidates and subsequently resigned, turning over the process of forming the new government to lieutenant, Enrico Letta, who began consultations with various senior party officials throughout the week.

- Sterling benefitted from the better-than-expected UK GDP data on Thursday. GBP/USD moved out to four-week highs above the 1.54 handle after the data dropped. EUR/GBP fell 50 pips to test 0.8450. Trade-weighted Sterling hit a 2 month highs. Analysts say the improved GDP data probably took additional QE off the table as an option at the May BoE meeting.

- The yen currency entered the week around recent lows after Japan got the tacit backing of the G20 for its bold policy measures. USD/JPY probed towards 100.00 but fell just 15 pips shy of the key level, which was last broken in May 2009. While the yen has been weakened, the BoJ easing campaign is failing to inspire Japan investors, who sold a net ¥862.6B in foreign bonds last week, for the sixth consecutive week of elevated net sales as Japanese bring money home and pump the Nikkei225 index higher. Dealers continue to watch Japanese life insurance companies and their FY14 funding plans for signs of allocation out of domestic JGB markets and into international bonds.

- In Asia, there were some worries about China on Tuesday after the April HSBC flash PMI data fell to 50.5, less than the 51.5 expected and below the 51.6 reported in March. In addition, the sub-index of new export orders fell below the 50-point level to 48.6 suggesting demand for Chinese exporters remain weak. The yuan rose to a new record high against the dollar on Friday after the PBoC guided the yuan fixing to a surprisingly strong new high for the second consecutive session. Asian markets hit their lows of the week but recovered to trade higher through week's end; conversely the Shanghai Composite closed out the week down 2%. The South Korean economy grew at its fastest pace in two years reporting a preliminary Q1 GDP of 0.9%, higher than the 0.7% expected.



TradeTheNews

Apr 26 2013

Interesting day that was all about trade management. Winners and losers were 50/50, but losers were 5-10 cents while winners were 1:3 and 1:2, thus allowing  to finish the day in the black. Not much but still. Somewhat strange moves in the market, with sudden rug pulls and spikes

Session Time: Fri Apr 26 00:00:00 2013

[08:02] {nemo} Get up you bastards...you can sleep when you're dead...

[08:04] {thomcbell} Gm captain

[08:05] {nemo} I got demoted?

[08:10] {thomcbell} lol

[08:29] {nemo} well that closes the gap up from yesterday

[08:30] {nemo} 157.90 was yesterday's pivot at test of the whole, and the Weekly R1...strong level

[08:49] {patel} Good Morning

01[08:49] {Threei}  morning guys

01[08:50] {Threei}  why is nemo captain? I thought sarg

[08:51] {nemo} I refuse to be pigeon-holed

01[08:51] {Threei}  I bet it's because pigeons are mean

[08:54] {nemo} well,  they're buying amazon back up

[08:55] {stevw} g'mornin everybody

01[08:55] {Threei}  stec :)

01[08:55] {Threei}  c=v

[08:55] {nemo} you'd think Vad had five thumbs

01[08:56] {Threei}  shhhh... don't tell anyone it's 7

01[08:56] {Threei}  frikin Kryptonite genes...

[08:57] {stevw} i'm going to assume i should suppress the urge to make any chrenobyl jokes

[08:58] {nemo} try Chelabynsk, or perhaps Damansky Island jokes

[08:58] {stevw} ah, the Newfoundlanders of Russia

[08:58] {nemo} ?

[08:58] {stevw} Newfoundlanders are the butt of Canadian jokes

01[08:58] {Threei}  yeah, in Rusdia it's chukchi

01[08:59] {Threei}  Russia

[09:02] {stevw} reindeer chukchi or maritime chukchi?  (I'm just showing off that I know how to use Wiki)

01[09:03] {Threei}  both

01[09:03] {Threei}  no one bothered with such distinctions

[09:05] {stevw} to explain for non-Canadians, Newfoundlanders are essentially Irish - - which should suffice for explanation

[09:06] {nemo} I'm Irish, please explain

06[09:06] * nemo racks the slide

[09:07] {stevw} in that case, I'll just say thanks for the Guiness and we'll leave it that

01[09:07] {Threei}  hehe

01[09:07] {Threei}  Guiness, I am on board... but please keep that whiskey

[09:08] {stevw} actually, irish whiskey is gaining respect these days, even amongst scotch drinkers

01[09:09] {Threei}  ok... that wave hasn't reached me yet :)

[09:09] {jdetente} gm

01[09:09] {Threei}  jd :)

[09:10] {stevw} early signs for a down day on the markets, which should be good for me seeing as the up days sucked

[09:17] {nemo} I don't expect it to get out of hand though, they have to get this across the monthly finish line

[09:19] {Will49} gm

01[09:19] {Threei}  will :)

[09:19] {cipher} gm

01[09:20] {Threei}  cipher :)

01[09:21] {Threei}  not very active premarket

[09:22] {stevw} everything i've looked at so far is suggesting a flat open

[09:23] {Alexs} gm

01[09:23] {Threei}  alex :)

[09:27] {backman} gm

01[09:28] {Threei}  bman :)

[09:28] {dino} gm

01[09:29] {Threei}  dino :)

01[09:30] {Threei} Long Setup:  GDX  .75 break

01[09:30] {Threei}  If holds  .65 

01[09:32] {Threei}  Invalidated  

[09:33] {nemo} amzn getting smoked

01[09:33] {Threei} Short Setup: C  .20 break

01[09:34] {Threei}  If holds  .25 

01[09:34] {Threei}  GDX... was two-sided in retrospect

01[09:34] {Threei}  C 1:1

01[09:34] {Threei}  1:2

01[09:35] {Threei}  1:3, out

01[09:35] {Threei}  nice and easy

[09:35] {Will49} beauty

[09:35] {Les} yo what r we in?

[09:36] {jdetente} that was smooth and easy like a Cristopher Cross song. hehe

01[09:36] {Threei}  look at C bar and imagine being short fron .20, Les

01[09:36] {Threei}  lol jd

[09:36] {Les} spot on reversal gj

[09:37] {Les} RIG 51 looks interesting for short

01[09:38] {Threei} Short Setup: GDX  .40 break

[09:39] {Les} thinking like me wtg vad

[09:40] {jdetente} not a good sign Vad...not a good sign

01[09:41] {Threei}  to me thinking at all is not a good sign

[09:41] {Les} oops

[09:41] {Les} looking at chart in same manner then

[09:41] {jdetente} well if we have a stop here it will be because of "thinking" like Les. lol

01[09:41] {Threei}  there it is

[09:41] {dino} wdc sm l .50

[09:42] {Les} hehehe scapegoat accepted

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

01[09:43] {Threei}  If holds  .50 

[09:44] {nemo} gappy this morning

[09:45] {Les} managed to grab half shares of GDX as it dropped .50

01[09:46] {Threei}  no go

[09:46] {jdetente} another Les trade. meh

[09:47] {Les} Mushin jd mushin ain't looking for externalities

[09:47] {Les} RIG 51 long?

[09:48] {Les} forget it

[09:48] {dino} away sm l .20

[09:48] {dino} out wdc .90,+.40

01[09:49] {Threei} Short Setup: JCP  .20 break

01[09:50] {Threei}  change to .25 break

[09:50] {nemo} Soros might have to defend his position

[09:52] {dino} out away .60, +.40

[09:54] {Les} crap RIG 1:3

[09:54] {thomcbell} long setup aig 41.57 break

01[09:54] {Threei}  *(US) APR FINAL UNIVERSITY OF MICHIGAN CONFIDENCE: 76.4 V 73.5E

[09:55] {thomcbell} sorry late 

[09:57] {Les} slw short .25 holding .35

[09:57] {thomcbell} aig 1:1

[09:57] {thomcbell} target 1:3

01[09:58] {Threei}  lose that .20 already, JCP

01[10:02] {Threei} Short Setup: C  47 break

01[10:02] {Threei}  meh

[10:03] {Les} JCP's a squeezer I couldn't borrow

[10:04] {Les} slw partial cover at .15

01[10:04] {Threei}  stop .07

[10:05] {Les} higher time frames suggesting Slw and GDX wyckoff distribution potential today

[10:06] {nemo} you been wycking off too much lately, Les

[10:06] {Will49} LOL

[10:07] {Les} c covered .92

[10:07] {Les} ty

01[10:07] {Threei}  yw

01[10:07] {Threei}  1:1

[10:07] {Les} hehehe morning nemo

[10:08] {thomcbell} aig 1:1

[10:08] {Les} quartere cover .05 slw

[10:08] {thomcbell} jcp sure trades like a long 

[10:10] {thomcbell} aig flat second half 

01[10:12] {Threei}  1:2

01[10:12] {Threei}  C... you are our true friend today

01[10:12] {Threei}  "your friendly banker"

[10:12] {Will49} tks Vad...for your friend

01[10:13] {Threei}  Tesla Motors Financial press notes that Tesla Model S sales in Q1 at approx 4,750 will exceed GM Volt sales of 4,400 units

01[10:13] {Threei}  oh, so thet are in competition who sucks less?

[10:14] {Les} last piece slw flat still a bit of life in the miners

[10:14] {thomcbell} long setup qcom 62.1 break if holding 62

[10:15] {nemo} sbux

01[10:15] {Threei}  what's with rug pulls today?

01[10:16] {Threei}  SPY acts as if it keeps ear to the ground and hears distant exposions

[10:16] {Les} trading CAT earlier. Wild cat this morning ripping both ways

[10:16] {thomcbell} no go qcom

[10:19] {nemo} deck

[10:20] {Will49} too early to take to the lifeboats

[10:20] {Les} looking at potential reversal in SLW again, but looks like it wants higher

[10:21] {Les} GDX hesitates

[10:23] {Les} slw short .49 holding .55

[10:24] {dino} hum-dee-dum

[10:25] {Les} partial .40

[10:27] {Les} quarter .30

[10:27] {Les} damn this crazy shit today

[10:27] {Will49} good call Les

[10:27] {Les} 2 of Boeings finest flying over my head

01[10:28] {Threei}  good kangaroo tail reversal

[10:28] {Les} huh?

[10:28] {Les} ty will, a little too quick straight back into resistance

01[10:28] {Threei}  so Les, do you or do you not still have naked chartsd with no indicators?

[10:28] {thomcbell} qcom long setup 62.08 long break if holding 61.98

[10:28] {Les} my TRADING SCREEN charts are naked

01[10:29] {Threei}  ok

01[10:29] {Threei}  and how does it go?

[10:29] {Les} I have a support screen in 3 MINS providing additional information

[10:29] {Les} easier to see a screen without crap on it

[10:29] {Les} see price i mean

[10:29] {thomcbell} target is just 1:2

[10:29] {thomcbell} qcom 1:1

01[10:30] {Threei}  so, just one week with clean charts, and you alreadyh see no need in junk

[10:30] {Les} no I like trading price and volume very simple

01[10:30] {Threei}  come Monday, add BBs

01[10:30] {Threei}  and one simple MA

[10:30] {dino} out qcom .18, +.10 ty tbell

01[10:30] {Threei}  that's all you need

[10:30] {Les} what u using in 1 min time frame on yours

01[10:31] {Threei}  20 MA and BBs

[10:31] {thomcbell} 20 ma on the 1 min Vad?

01[10:31] {Threei}  yeah

01[10:32] {Threei}  50 on daily

[10:32] {nemo} 13 1.7

[10:32] {Les} 1:3 slw and I am flat again

01[10:32] {Threei}  all in all, I believe it was a good experiment, helped you clear things

01[10:32] {Threei}  for 1 min yes, nemo

01[10:32] {Threei}  on daily it's default

[10:33] {Les} yes starting to put indicators in their place

01[10:33] {Threei}  20/2

01[10:33] {Threei}  the more complicated and exotic they are...

[10:34] {Les} which is kangaroo tail GDX or SlW?

01[10:34] {Threei}  remember how during reltless march up for two years, bears were throwing out those Hindenburg Omens and 3 Domes with something

01[10:34] {Threei}  10:24 candle with upward tail

01[10:35] {Threei}  oh, and horribly sounding Death Cross

01[10:35] {Threei}  no one ever heard about those before, but suddenly they were in all articles and blogs

[10:35] {Les} everyone likes a narrative

[10:35] {thomcbell} qcom 1:2

[10:36] {Les} slw again short .20?

[10:36] {Les}  holding .30?

01[10:36] {Threei}  sure enough, none of them ever worked, and market continued up

01[10:36] {Threei}  no read

01[10:36] {Threei}  what kind of setup is that?

[10:38] {Les} shorting into bounce would have been my ideal .25, .20 too late as it dropped into support

[10:41] {nemo} ctxs should be a short between .30 and .40

[10:42] {thomcbell} qcom flat - had that last qtr at 48.38 but didnt get taken

[10:42] {thomcbell} 62.38

01[10:42] {Threei} Long Setup:  GDX  .25 break

[10:42] {thomcbell} i mean

01[10:43] {Threei}  If holds  .15 

[10:49] {thomcbell} prlb looking for a long entry 

[10:49] {thomcbell} feel like this thing might squeeze

[10:51] {thomcbell} kors looks vulnerable here 

01[10:52] {Threei}  1:1

[10:52] {dino} cov

[10:52] {dino} sm l .00

01[10:52] {Threei}  C 1:3, out

01[10:53] {Threei}  last leg took a lot of time but what's our hurry

[10:53] {Will49} you're here till you die

[10:54] {Will49} might as well be amking money :)

[10:54] {Will49} making

01[10:54] {Threei}  with short breaks, to faint as I see asnother earth-shuttering evidence of stupidity

[10:54] {Will49} of course

[10:54] {Les} I didn't say anything

[10:55] {Will49} one needs some entertainment

[10:55] {thomcbell} kors - should have typed the setup - nice little break there 

01[10:55] {Threei}  1:2

[10:56] {Will49} yeah sure tbell...keep the good ones to yourself

01[10:56] {Threei}  hehe

[10:56] {dino} cov stop -.30

[11:02] {thomcbell} wynn flat lvs down 2% 

[11:02] {thomcbell} loooking ofr a double bottom setup here 

[11:02] {thomcbell} your 20 period on the 1 min is a falling knife 

[11:02] {thomcbell} however 

[11:03] {dino} cov rinsed

[11:04] {Les} interesting dollar putting in lower high but market seems torn over it

[11:07] {thomcbell} long setup lvs 55.98 break if holding 55.88

[11:07] {nemo} think Europe Les

[11:10] {thomcbell} lvs invalidated 

[11:13] {backman} GDX heading to ndl?

01[11:14] {Threei}  can;'t tell confidently

01[11:14] {Threei}  rather yes than no, but not enough conviction for a trade

[11:18] {backman} ty

[11:19] {dino} pgti

[11:21] {dino} pgti s .50

[11:22] {nemo} fas

[11:36] {cc_9} GLD NUGT big pullback here

[11:36] {nemo} slv too

01[11:39] {Threei}  no news for this drop

[11:39] {cc_9} getting long this pullback

01[11:39] {Threei} Long Setup:  GDX  .85 break

[11:39] {cc_9} NUGT going to try for $0.35

01[11:40] {Threei}  If holds  .80 

01[11:40] {Threei}  tight stop

01[11:40] {Threei}  no go

01[11:41] {Threei}  gold continues selloff

[11:41] {cc_9} Scaling in, SLV / NUGT i think can squeeze a nice $0.35+ on each

[11:49] {Les} distribution it was. dropped following in favor of taking photos of flowers in garden :)

[11:52] {cc_9} looks like this trade will take longer than anticipated. shiet

[11:52] {dino} pgti stop .66 -.16

01[11:53] {Threei}  drop of a kind I love to exploit but this one came out of nowhere

[11:53] {cc_9} I agree

[11:53] {cc_9} big volume behind it as well

[11:54] {dino} taking break

01[11:54] {Threei}  well, big picture on gold remains negative

[11:56] {Les} GDX long .50 holdgin .40?

[11:56] {cc_9} SLW, very tempting as well, sticking with SLV for now.

01[11:56] {Threei}  nah'

[11:57] {backman} of course, in the land of woulda/shoulda....i thought that blow off high yesterday was going to set the stage for a downward bias in GDX...since my trading has sucked of late....i stayed quiet

[12:03] {Les} so with wyckoff we should see new distribution range here and selloff into close

01[12:09] {Threei} Long Setup:  GDX  .35 break

01[12:10] {Threei}  If holds  .28 

01[12:11] {Threei}  target 1:4

01[12:12] {Threei}  Invalidated  

01[12:12] {Threei}  for now

[12:13] {backman} fcx....trading on dl.short from .06

[12:13] {backman} .16

01[12:14] {Threei}  dl as in double lot?

[12:14] {backman} daily low

01[12:14] {Threei}  oh :)

[12:22] {backman} stopped BE

01[12:23] {Threei} Long Setup:  GDX  .30 break

01[12:23] {Threei}  If holds  .20 

01[12:23] {Threei}  perfect pullback for a double bottom and real recovery

01[12:24] {Threei}  why b/e bman? I'd think .21 was a good stop at the time

[12:25] {backman} twitchy fingers...was trading it as surrogate for GDX

01[12:26] {Threei}  ok GDX

01[12:26] {Threei}  it's time

[12:26] {Les} GG made higher low

01[12:26] {Threei}  1:4 please

01[12:28] {Threei}  1:1

01[12:30] {Threei}  .50 is a challenge, but should be taken, and clear skies after that

[12:31] {Les} bb's in 3 min suggest it may bounce along here with 50 as the top

01[12:31] {Threei}  huh?

[12:31] {dino} .

01[12:31] {Threei}  bbs do no sich thing

[12:32] {dino} pgti rinsed, thats 2 for today

01[12:32] {Threei}  you re back to reading wrong thing in a wrong way Les... no indicators for you for another week

[12:33] {Les} hehehe

01[12:33] {Threei}  http://www.realitytrader.com/vad/soupnazi.png

[12:34] {dino} no soup for you les

01[12:34] {Threei}  :)

[12:34] {cc_9} SLV, pls crack 23.15. pls

01[12:34] {Threei}  1:2

01[12:35] {Threei}  come on GDX, break hat wall

01[12:35] {Threei}  good girl

01[12:36] {Threei}  boy?

[12:37] {thomcbell} long setup kors 56 break if holding 55.90 

01[12:38] {Threei}  last 1/4 stopped on a trail

01[12:39] {Threei}  interesting day, all about trade management: winners and losers ar 5/50, but losers are 5-10 cents, winners are 1:}2and 1:3

01[12:39] {Threei}  overall positive

[12:40] {thomcbell} yup

[12:40] {Les} http://www.youtube.com/watch?v=CLPs2rgmkqE

[12:40] {patel} What is 5/50?

[12:40] {nemo} yeah, but Les is a real deadweight on your averages Vad

[12:41] {backman} oatel, it's kinda like he spells ur name   50/50 :=)

[12:41] {Les} ca c'est n'importer quoi

[12:42] {patel} oh okay. thanks

[12:42] {Les} “We are in the business of making mistakes. The only difference between the winners and the losers is that the winners make small mistakes, while the losers make big mistakes.” 

01[12:42] {Threei}  lol

[12:42] {Les} -Ned Davis

[12:42] {Les} like it

01[12:42] {Threei}  backman learned threeiish well

[12:43] {dino} a good trader knows how to take a profit, a great trader knows how to take a loss 

01[12:43] {Threei}  I almost agree with that sentence

01[12:43] {Threei}  just one correction

[12:43] {stevw} i'm awesome then!

[12:44] {nemo} oh jeez...

01[12:44] {Threei}  winners admit their mistakes and take care of them while they are small

01[12:44] {Threei}  losers get stubborn and let mistakes grow

[12:44] {Les} yeh

01[12:44] {Threei}  A Taoist Trader

[12:44] {Les} damn Vad, Megashot posting some awesome photos

[12:44] {dino} or the classic, profits are luck, losses are skill

01[12:44] {Threei}  take care of a small before it gets big

[12:45] {thomcbell} kors invalid 

[12:45] {backman} thombc....was that Kors trade a 2 way perchance

[12:45] {thomcbell} never triggered 

[12:45] {thomcbell} i dont think so 

[12:45] {backman} ty

[12:46] {thomcbell} it looks like the setup was not great for the long either 

[12:46] {backman} ah...come on...great setup...just didnt trigger

[12:47] {thomcbell} i generally like looking for a vad setup on a strong stock that retraces to previous days pivot - 

[12:48] {thomcbell} thats what my thesis was there on kors

[12:51] {dino} pgti wants vwap

[12:51] {dino} s .40

[12:51] {Les} we can see how LVS has shock and awed the longs chasing into close yesterday

[12:52] {Les} awesome feeling detaching emotions from trading decisions

01[12:53] {Threei}  liberating, isn't it

[12:53] {Les} I think Nemo's taken it one step further and detaches emotions while hiding bodies, but that's seomthing else

01[12:53] {Threei}  that's still not the ultimate perfection Les

01[12:53] {Threei}  here is the next step:

01[12:53] {Threei}  hide bodies in spectacular places and take awesome photos when done

[12:54] {dino} why do you think the flowers grow so well?

[12:54] {Les} :)

01[12:54] {Threei}  lol

[12:54] {thomcbell} vad that was a good DB on qcom a few minutes ago with bounce from 61.59 with retraceand 61.64 trigger right - i have been doing study on that setup 

[12:55] {nemo} I just bring them to my buddy's incinerator

01[12:55] {Threei}  looks very right to me

01[12:55] {Threei}  see Les? nemo has no appreciation for a good landscape

[12:56] {backman} i'd think all the BS in here would keep flowers growing beautifully

[12:56] {nemo} yes I do, experience shows though as the body decays, it leaves a tell-tale hollow

[12:56] {nemo} So....

[12:56] {nemo} you either have to chop it up first

[12:56] {nemo} or, incinerate

[12:56] {nemo} you frickin' amateurs

[12:56] {nemo} GMCR

[12:57] {nemo} only problem, support at .50

01[12:58] {Threei}  can you think of a better place to dunp body and take photo than this: http://goo.gl/spRtP

[12:58] {nemo} nice

01[12:58] {Threei}  take your pick: http://photography.realitytrader.com/2013/03/twilight-sunsets-and-other-dark-matters.html

01[12:59] {Threei}  wow QCOM

01[12:59] {Threei}  fantastic catch tbell

[13:01] {thomcbell} exactly the kinds of plays we should be looking for today 

[13:01] {backman} any though on GDX breaking .40?

01[13:02] {Threei}  looking at it for the last 5 min bman, and thinking to myself,

01[13:03] {Threei}  it's much weaker than it should have been, cvonsidering the drop

01[13:03] {Threei}  kind of undermines my idea of having a good run after final bottom

[13:03] {backman} how do u mean weaker?

01[13:03] {Threei}  final bottom was in place, yet it stalled amd revisited the trigger

01[13:04] {Threei}  instead of running with nothing more than small pullbacks

01[13:04] {Threei}  makes me very hesitant about long on it

01[13:04] {Threei}  see, when the final bootom is in, it means real reversal, no more sllers, buyers get bold

[13:05] {backman} ...i c ....hasnt' made a 1:1 run before coming back to BE

01[13:05] {Threei}  stock runs fast, furiously trappping those shorts that missed their exit

01[13:05] {Threei}  this one doesn't bubble happily

01[13:05] {Threei}  it bobs up and down

01[13:06] {Threei}  makes me even think, maybe new lows in cards

[13:06] {Will49} very helpful narrative Vad...tks

[13:06] {backman} ahh........i shall watch w u

01[13:06] {Threei}  sure... soetimes it's hard to put these things in words

[13:07] {Will49} good job

01[13:07] {Threei}  especially when typing with fins

[13:07] {Will49} :)

[13:07] {Les} http://tinyurl.com/c3f3ffg

[13:08] {Les} how I view such a scene. JMO

[13:08] {Les} as that MACD rolls over I'll look to trading screen for new setup

01[13:08] {Threei}  sheesh... MACD

01[13:08] {Threei}  Lesa, you are incorrigible

[13:08] {Will49} hahaha lesa!

01[13:08] {Threei}  I give up

01[13:09] {Threei}  back to "putting things in words..." as my McGraw Hill editor put it many years ago,

[13:09] {Will49} freudian slip Vad

[13:09] {Will49} lesa

[13:09] {Les} actually, your ability to see same thing and rationalise it without looking elsewhere is what I would like to be able to do

[13:10] {nemo} thus marriage

[13:10] {Les} keep quiet you

01[13:10] {Threei}  "I can't edit your writing. It's rough, and English isn't smooth and isn't flowing easy, but as soon as I make it rolling off the toingue easier, it loses this raw power your writing has"

[13:10] {nemo} truth is a jagged blade that rips and tears soft flesh

01[13:10] {Threei}  why aren't you looking at what I am looking then, Les?

[13:11] {Les} I am

01[13:11] {Threei}  why are you mixing in this MACD bs again?

[13:11] {nemo} who are you talking too Vad?

[13:11] {Les} that's a side screen

01[13:11] {Threei}  side or not, you are looking at it an dusing it as reasoning

01[13:11] {Threei}  13:08] {Les} as that MACD rolls over I'll look to trading screen for new setup

01[13:12] {Threei}  now, look at my rasoning

01[13:12] {Threei}  reasoning

01[13:12] {Threei}  can you see that what I am using is the very basic matket language?

[13:12] {Les} yes I see the difference

01[13:12] {Threei}  in terms of lows, highs, volume, pace

[13:12] {Les} I presumed .50 as resistance, while you let market decide it

01[13:13] {Threei}  and that helps me gauge the mood, the determination, the balance of supply and demand

[13:13] {Les} and market having decided resistane, you are no longer sure of long setup

01[13:13] {Threei}  what does MACD hekp you gauge?

[13:13] {Les} potential trend and trend change

01[13:13] {Threei}  it's too formal, too removed

01[13:13] {Threei}  yeah? good luck with that

01[13:14] {Threei}  the difference between what I teach vs what most do:

[13:14] {nemo} we're gonna have a doji today

01[13:14] {Threei}  they would tell you "you are not ready yet to trade without XXX indicator"

01[13:15] {Threei}  I will tell you "you are not ready yet to trade WITH it"

[13:15] {nemo} what about the chicken?

[13:15] {Les} yeh I've seen that this week. I have been trading off of price and volume

01[13:15] {Threei}  chicken entrails you mean?

[13:15] {nemo} yeah

[13:15] {nemo} cree

[13:15] {dino} coin tosses, magic 8 ball

01[13:15] {Threei}  that'ds a very good one, just below the tea leaves

01[13:16] {Threei}  and right above the dartboard

[13:16] {Les} well give me some credit

01[13:16] {Threei}  I did

[13:16] {nemo} right

[13:16] {Les} I have progressed beyond dartboard

[13:16] {nemo} right into the litter box

[13:16] {Les} ty nemo

01[13:16] {Threei}  you just slip back into bad habits too fast and easily

[13:16] {nemo} watch cree .60-.70 for short

01[13:17] {Threei}  at one point in previous life I was lucky to be coached in table tennis by the champion of Moscow

[13:17] {dino} wyn sm l .99

01[13:18] {Threei}  he dropped a sentence once which I still remember

01[13:18] {Threei}  the move you learned last is the one you forget first

[13:19] {nemo} market should come in a little here

01[13:19] {Threei}  this skill that you learned this week is too fresh

01[13:19] {Threei}  dpn't jeopardize it by dropping it too fast

01[13:19] {Threei}  it's not ingrained deeply yet

01[13:19] {Threei}  see his and my point?

[13:20] {nemo} which explains why he's still married

[13:20] {Les} I'll admit error in my trading today, being too reliant on charts and in the spirit of Ritholtz

[13:20] {nemo} CREE

01[13:20] {Threei}  ok... let's start targeting short in GDX

01[13:21] {Threei} Short Setup: GDX  .20 break

01[13:21] {Threei}  If holds  .30 

[13:30] {dino} tsla drop

[13:33] {Les} CAT closing in on 85 resistance

[13:36] {Will49} Vad, just stepped away for a few minutes

[13:36] {Will49} how long ago was the GDX alert?

01[13:36] {Threei}  15 min

01[13:36] {Threei}  never triggered

[13:36] {Will49} tks

01[13:36] {Threei}  invalidated but tries to reestabligh itself

01[13:36] {Threei}  so, still on watch

01[13:43] {Threei}  not anymore :)

01[13:44] {Threei}  gold spike propped GDX

[13:44] {cc_9} SLV finally =)

01[13:52] {Threei}  quite a few strange moves today

01[13:52] {Threei}  looking like they are news-caused, but there is none

[13:52] {Will49} manipulation

01[13:53] {Threei}  ahhh!

01[13:53] {Threei}  that's what it is

[13:53] {Will49} who knows! 

01[13:54] {Threei}  you heard that ben is not going to attend Jackson Hole this evening, first Fed chairman in 50 years to do so

01[13:54] {Threei}  the reason is, he will be too busy manipulating gold

[13:54] {Will49} heard that

[13:54] {Will49} that he's not going

[13:54] {jdetente} Reptilian King not attending Reptilian ceremony...hmmmm lol

01[13:55] {Threei}  lol

01[13:55] {Threei}  my alternative guess is, he can'tstop priniting money even for a minute

01[13:55] {Threei}  deflation may sneak up on him

[13:56] {cc_9} i seriously hope nobody here is listening to alex jones while trading

[13:56] {cc_9} i just scanned and saw the word reptilian

01[13:56] {Threei}  who?

[13:56] {dino} i'm listening to  music

[13:56] {cc_9} good

[13:57] {cc_9} one should only allow for 1 hour max a day of tinfoiling

[13:57] {Will49} is alex jones a guitar player?

[13:57] {nemo} oh, are they talking about the evolutionary level of Les' brain?

[13:57] {cc_9} lol

01[13:58] {Threei}  this is very weird headline:

01[13:58] {Threei}  Explosion in Karachi at political meeting kills at least 4 and injures 20; Taliban claim responsibility

01[13:59] {Threei}  there are political meetings ikn there with anyone but Taliban?

[14:03] {cc_9} http://www.youtube.com/watch?v=OZaYRp3nxIU

[14:06] {Les} a little volume moving in to SLW

01[14:06] {Threei} Long Setup:  CAT  85 break

01[14:08] {Threei}  not a scalp, has very nice potential

01[14:11] {Threei}  Invalidated  

[14:12] {nemo} that would be entring another gap

01[14:14] {Threei} Short Setup: GDX  .70 break

01[14:14] {Threei}  If holds  .80 

01[14:19] {Threei}  1:1

[14:20] {nemo} http://bit.ly/ZAph5Y

[14:22] {Les} hydrogen powered? good ad

[14:22] {nemo} hope you have a diesel

[14:22] {Les} sigh

[14:24] {dino} cov sm l .60

[14:27] {nemo} wow, cree keeps on going

01[14:28] {Threei} Long Setup:  CAT  .90 break hl

01[14:29] {Threei}  Attention:  CAT  unusally structured play

01[14:29] {Threei}  half lot at .90

01[14:29] {Threei}  with idea tio get stopped under .80 on half lot OR add another half at 85 break

01[14:29] {Threei}  at which point whole lot will get stop trailed to under .90

[14:32] {backman} so for entry at .90...stop is .80?

01[14:32] {Threei}  yes

01[14:34] {Threei}  Invalidated  

[14:37] {dino} hmsy sm s .98

[14:41] {dino} cov hmsy .68, +.30

[14:41] {dino} out cov .90, +.30

[14:42] {Will49} hummin' right along dino

[14:42] {thomcbell} any george jones fans in the room - he passed in the last day 

[14:42] {dino} lucky will

[14:42] {Will49} yes, saw him live  acouple of times

[14:42] {thomcbell} he is very solid 

[14:42] {thomcbell} was

[14:43] {dino} wyn to b/e stuck

[14:45] {dino} out wyn .08, +.09

[14:46] {Les} slw .50 break holdgin .60?

[14:46] {dino} stop pgti .42, -.02

[14:46] {Les} cat valid again?

[14:46] {Les} inveerted h&s

01[14:46] {Threei}  yes, valid again

01[14:46] {Threei}  same idea

[14:47] {Les} gdx and slw at .50

01[14:53] {Threei}  ok... game's half on

[14:56] {Les} failed inverted h&s SPY, or another smaller inverted H&S developing in the right shoulder

[15:02] {thomcbell} jcp got additional news out there now - loan commitment from gs 

[15:02] {thomcbell} and it exploded 

[15:03] {dino} they'll bundle that into a aaa mbs and sell it, lol

01[15:03] {Threei}  missed it watching CAT

[15:08] {thomcbell} long setup trow - 71.65 break if holding 71.55

01[15:14] {Threei}  game's fully on now

01[15:14] {Threei}  stop .88

[15:19] {Les} GDX .45 short holding .55?

01[15:20] {Threei}  rather if holding .50

[15:20] {thomcbell} trow invalidated

[15:22] {Les} C double top at .95?

[15:23] {Les} or short at .85 if holding .95?

01[15:23] {Threei}  if loses .85, yes... otherwise, breakout

[15:23] {Les} k

[15:23] {Les} 2 way?

01[15:23] {Threei}  yup

[15:26] {dino} calling it a week, thx for ideas. decent week

[15:27] {Les} bon weekend

01[15:27] {Threei}  have a good weekend dino

[15:27] {dino} will do, u2

[15:29] {Les} dunno if GS just topped out 2nd time at .50 here

[15:31] {Les} now looks like DT in GS

[15:32] {Les} long C

[15:39] {Les} tighten stop to .90

[15:41] {jdetente} you mean .89

[15:42] {Les} GS droping

[15:45] {nemo} very low volumes across the indexes

01[15:45] {Threei}  oh well

01[15:45] {Threei}  that was a good idea that didn't pan out

[15:46] {Les} u been reading monty python?

01[15:46] {Threei}  why, I have Fed minutes

[15:46] {Les} lol

[15:47] {nemo} reading Monty Python?

[15:47] {nemo} wtf

[15:48] {Les} cutting c -.05

[15:48] {Les} GS says no

[15:49] {Les} "that was a good idea that didn't pan out"...

[15:49] {Les} sounded straight out of a monty python sketch, british stiff upper lip and all

[15:49] {Les} calling it a week

[15:50] {Les} c u's monday

[15:50] {backman} enjoy

[15:50] {Will49} yeah...me too

[15:51] {Will49} TTFN guys

01[15:51] {Threei}  thank you all

01[15:51] {Threei}  have a great weekend

01[15:51] {Threei}  see you Monday

[15:57] {thomcbell} take care guys 

Apr 25 2013.

Not really our day, a few too many rinses. Nothing extraordinary as we cut down activity early and did get a few scalps right, but still finished negatively. Bug day. 


Session Time: Thu Apr 25 00:00:00 2013
[09:01] {patel} good morning
01[09:01] {Threei}  p a t e l :)
01[09:01] {Threei}  see, I can do it if I focus
[09:02] {stevw} g'mornin
01[09:02] {Threei}  stev :)
[09:02] {nemo} how ever do you pee in the morning
01[09:02] {Threei}  I don't flatter myself and come closer
[09:03] {nemo} I go outside myself
[09:03] {nemo} little rough in winter
[09:03] {nemo} little fella' doesn't want to come out
01[09:03] {Threei}  fatful rabbit at your feet
01[09:03] {Threei}  faithful
[09:04] {nemo} she just was, actually
01[09:04] {Threei}  too eaely for words longer than 5 letters...
[09:04] {stevw} case in point!
[09:04] {nemo} every morning she's sitting there waiting for her goodies
[09:05] {nemo} hate these big gap up days...jobs and earnings were good so it' likely ain't going down
[09:11] {Les} good afternoon
01[09:11] {Threei}  les :)
[09:11] {nemo} it was
[09:11] {Les} excluding Nemo
[09:12] {Les} get it straight bunny boy not even 9:30am your way
06[09:12] * nemo mmmmmhhhh, Les can tell time
01[09:15] {Threei}  I need to record some of this banter, to sustain me on weekends...
[09:15] {nemo} I guess Les and I could log in on weekends
[09:18] {Les} yeh I can't have it out with my wife like this. I pay to come here for therapy with Nemo
[09:18] {nemo} you're admitting that?
[09:19] {Les} no fear
[09:19] {Les} interesting to see ABX bottomed out this week at 2009 low
[09:19] {nemo} see GDX?  see my comment the end of Bill's blog yesterday?
[09:20] {Alexs} gm
[09:20] {Les} replied to it
01[09:20] {Threei}  alex :)
[09:20] {Will49} gm
[09:20] {thomcbell} gm all
01[09:22] {Threei}  will, tbell :)
[09:23] {cipher} gm
01[09:23] {Threei}  cipher :)
01[09:25] {Threei}  union becomes stronger by day:
01[09:25] {Threei}  - (GR) Greece said to be seeking war reparations from Germany; Local press indicating amount demanded may be close to �162B - financial press
[09:26] {Will49} grasping at straws
[09:28] {nemo} and Egypt still owes the Jews
[09:28] {jdetente} gm all
01[09:28] {Threei}  jd :)
[09:28] {nemo} and the Spanish still owe the Mayans, or whoever they were
01[09:28] {Threei}  and Mongolia - Russia
[09:28] {nemo} yep
[09:29] {nemo} Oh, and Hannibal owe's all of Europe
[09:29] {nemo} Should have had snow tires for his elephants
[09:29] {Will49} :)
[09:29] {thomcbell} qcom wow
[09:29] {nemo} And Canada should seek reparations from Will for letting him live there
[09:30] {Will49} I'd pay
[09:30] {Will49} even though of German heritage
06[09:31] * Les smacks Nemo for his particularly boisterous attitude this morning
[09:33] {nemo} frickin' gnats
01[09:33] {Threei} Short Setup: FB  .10 break
[09:33] {Les} bbry 15 break short?
[09:33] {cipher} MLNX L 00
[09:33] {cipher} out .20
01[09:33] {Threei}  let's keep questions for after first 30 min
[09:34] {nemo} Les should have to wait until 4 pm
01[09:34] {Threei}  1:1
01[09:35] {Threei}  *(^%#... can't believe I typed alert GDX short at .90, and was 1-2 sec late to send it
[09:36] {Les} BBRY
01[09:37] {Threei} Short Setup: C  .20 break
01[09:37] {Threei}  If holds  .30
01[09:38] {Threei}  what was that
[09:40] {Les} finnies trying to squeeze
01[09:42] {Threei}  no go
01[09:44] {Threei}  rinse
01[09:44] {Threei} Long Setup:  GDX  .57 break
01[09:45] {Threei}  stop .48
[09:45] {cipher} ISIS L.10
[09:45] {cipher} out .27
01[09:46] {Threei}  hmmm... is it one of those days I better stay in bed?
[09:47] {nemo} no...go to the dog house
[09:49] {nemo} ffiv dramamine stock
01[09:49] {Threei} Long Setup:  CAT  .40 break hl
01[09:49] {Threei}  If holds  .30
01[09:49] {Threei}  yeah right
01[09:49] {Threei}  no chance for entry
[09:51] {cipher} disca l .76
01[09:51] {Threei} Long Setup:  SLW  .10 break
[09:51] {cipher} mlnx l .19
01[09:53] {Threei} Long Setup:  GDX  .45 bereak
01[09:53] {Threei}  If holds  .35
01[09:54] {Threei}  GDX 1:1
01[09:55] {Threei}  SLW 1:1
[09:56] {thomcbell} qcom quick bounce there
01[09:56] {Threei}  GDX 1:2, out
[09:57] {Les} prioritised entry on weakest one first dumbass I am
[09:57] {Les} GDX was long gone
[09:57] {Les} not a frikin word bunny boy
01[09:59] {Threei}  SLW 1:2
[10:00] {thomcbell} hig 27.76 long break if holding 27.66
01[10:01] {Threei} Long Setup:  LVS  .30 break hl
01[10:02] {Threei}  1:1 if you got it
[10:03] {Les} daily resistance is close. might be reversal candidate shortly
[10:03] {thomcbell} kors long setup 54.97 break if holding 54.80 half lot
[10:05] {cipher} out mlnx .39 +.20
01[10:05] {Threei} Short Setup: GDX  .70 break
[10:07] {cipher} mlnx s .16
[10:07] {cipher} cov .51 +.65
[10:08] {cipher} too soon
[10:08] {Will49} too nice
[10:09] {cipher} mlnx l .00
[10:09] {cipher} out .30 +.30
[10:09] {thomcbell} kors using a hard stop
01[10:09] {Threei}  change GDX to .80 break
[10:10] {thomcbell} aig getting ahead of itself here looking for setup
[10:11] {jdetente} out SLW .52. Thanks Vad
01[10:11] {Threei}  yw
[10:12] {thomcbell} volume favorable on it though
01[10:12] {Threei} Short Setup: SLW  .50 break
[10:12] {thomcbell} gld tail on 1 min Vad
01[10:13] {Threei}  yes, but I want to play SLW and GDX off that
01[10:14] {Threei}  GDX is valid again
01[10:14] {Threei}  same .80 break
[10:15] {cipher} mlnx l .09
[10:16] {cipher} out .21
[10:17] {cipher} QLIK L.82
[10:20] {Les} GLD squeeze
[10:20] {Les} cup and handles forming on the miners
[10:21] {cipher} out qlik .92 +.10
[10:22] {thomcbell} kors got 1:1 and thats all
01[10:25] {Threei}  no go SLW
[10:29] {thomcbell} qcom 62.43 break if holding 62.60
[10:30] {thomcbell} qcom 1:1
[10:30] {Les} GLD long .61 holdgin .50
[10:31] {Les} damn didn't get my exit laid out first
[10:32] {Les} 1:;+
[10:32] {Les} 1:1
[10:33] {Les} 1:2 me out
[10:33] {thomcbell} qcom 1:2
[10:35] {thomcbell} stop on qcom to 62.30
[10:37] {cipher} osis s .64
01[10:37] {Threei}  die already GDX, will ya
[10:38] {thomcbell} slw could be double top here
[10:38] {thomcbell} 24.70 break if holding day hgh
[10:38] {thomcbell} aggressive for 24.67
[10:38] {cipher} cov osis .32 +.32
[10:38] {cipher} qlik s .64
[10:39] {cipher} stopped .60 +.04
01[10:40] {Threei}  and die good, for 1:3
01[10:41] {Threei}  1:1
[10:41] {thomcbell} slw 1:1
01[10:42] {Threei}  1:2
[10:45] {thomcbell} slw 1:2
[10:45] {cipher} mlnx l .77
[10:48] {Les} 1:3 off a dt in SLW at .73 makes me whole again
[10:50] {thomcbell} slw 1:3 and flat
[10:50] {thomcbell} thank you 101 trades
[10:50] {thomcbell} Vad :)
01[10:50] {Threei}  :)
[10:51] {Buster} Thanks V
01[10:51] {Threei}  yw
01[10:51] {Threei}  but I still hope to see GDX at 1:3
01[10:52] {Threei}  that would make me even
[10:56] {thomcbell} kors approaching trendline on daily
[10:58] {jfjf64} mornin
[10:58] {jfjf64} missed open
01[10:58] {Threei}  hey jf
[10:58] {jfjf64} looks good mornin
01[10:58] {Threei}  back and forth open
01[10:58] {Threei}  out of all you could pick to miss, this one is the best for that purpose
01[10:59] {Threei}  out last piece GDX on a trail
[10:59] {Les} C is at previous high resistance at .50
[11:01] {Les} maybe all the way to 48
[11:03] {thomcbell} slw looks like a long here
[11:03] {cipher} OSIS L .42
[11:06] {cipher} QLIK L .75
[11:09] {cipher} OPEN L.02
[11:10] {nemo} gmcr
[11:11] {thomcbell} what a nasty shakeout that was on kors vad
01[11:11] {Threei}  yeah
[11:12] {nemo} gmcr above .22 if it holds here
[11:12] {thomcbell} long setup slw 24.48 break if holding 24.42
01[11:12] {Threei}  and to think, I have a watch from them and my wife a wallet... maybe we should return those
[11:14] {thomcbell} slw invalid for low risk entry - still watching
[11:17] {backman} AMGN puking
[11:20] {cipher} SRCL L.50
[11:23] {cipher} out QLIK .81 +.06
[11:25] {cipher} out OPEN .59 +.57
[11:25] {cipher} SRCL stopped flat
[11:26] {cipher} OSIS stopped .29 -.16
01[11:27] {Threei} Short Setup: CAT  .65 break
01[11:27] {Threei}  If holds  .75
[11:29] {thomcbell} short setup kors 55.60 break if holding 55.72
[11:30] {cipher} LPNT L.57
[11:31] {thomcbell} hig nice cup without handle here
[11:32] {thomcbell} volume pattern not right on kors
[11:36] {thomcbell} kors invalid
[11:38] {cipher} WFM drop
[11:38] {cipher} WFM L .91
[11:39] {dino} swy sm l .50
[11:40] {nemo} gmcr
01[11:40] {Threei}  sigh
[11:40] {Will49} hhmmmm
[11:41] {jdetente} bad kitty
[11:45] {dino} swy stop .38, -.12
[11:51] {cipher} AEGR drop
[11:53] {cipher} AEGR L .07
[11:54] {dino} hsp spike
[11:54] {cipher} deck l .61
[11:55] {Les} gotta be elsewhere back for close
[11:57] {cipher} out DECK .87 +.26
[11:59] {cipher} out WFM .03 +.12
[12:00] {dino} gj
[12:00] {cipher} ty
[12:04] {cipher} out AEGR .16 +.09
[12:12] {dino} swy sm l .01
[12:19] {dino} out swy .20, +.19
[12:21] {cipher} OSIS drop
[12:21] {cipher} OSIS L.12
[12:26] {cipher} stooep .05 -.07
[12:27] {cipher} stop
[12:28] {nemo} yum
[12:34] {nemo} Vad.....change Les' password please
01[12:34] {Threei}  hmmm
[12:44] {cipher} ibm l .44
[12:45] {cipher} out .60
[12:48] {cipher} OSIS L .80
[12:58] {cipher} out .91
01[13:03] {Threei} Short Setup: FCX  30 break
01[13:04] {Threei}  If holds  .10  of course
[13:05] {cipher} OPEN L.23
01[13:11] {Threei}  Invalidated
[13:15] {cipher} out OPEN .66 +.43
[13:18] {nemo} brcm
[13:19] {cipher} LBTYK L .03
[13:21] {cipher} LBTYA  L.91
[13:22] {cipher} out LBTYA .99 +.08
[13:23] {cipher} out LBTYK .12 +.09
[13:44] {thomcbell} possibly after some consolidation - swy 23.65 long break if holding 23.53
[13:47] {thomcbell} swy 1:1
01[13:47] {Threei}  wtg
[13:48] {thomcbell} tu
[13:50] {thomcbell} swy 1:2
[13:50] {Will49} nice call Tbell
[13:52] {thomcbell} thanks
[13:52] {thomcbell} swy 1:3
01[13:52] {Threei}  very nice
[13:56] {thomcbell} 1:4 trailing to 23.99
01[13:57] {Threei}  OK, now you are just showing off
[13:57] {dino} nice
[13:57] {patel} good job
[13:57] {thomcbell} ok i shouldnt say 1:5
01[13:57] {Threei}  :)
[13:58] {Will49} wow, what a visual
[13:59] {thomcbell} out last quarter swy 24.24
[13:59] {Will49} congrats
[14:00] {thomcbell} thanks
[14:02] {Will49} ypu're not trading on inside info are you Tbell?
[14:02] {Will49} :0
[14:02] {Will49} :)
[14:03] {thomcbell} i havent looked at that symbol ever - a friend said what do u think - and pattern was there
[14:08] {thomcbell} kors breaks downtrend no all the way to downward sloping 50sma
[14:08] {thomcbell} strong as 10 men though'
[14:10] {nemo} day should get rather dismal anytime now
[14:11] {backman} long cat 85...if holds .90
[14:14] {nemo} RGC DINO!!!
[14:14] {dino} just saw that
[14:15] {nemo} just checking
[14:23] {dino} wdc sm l .10
[14:23] {dino} out wdc .40, +.30 pulp
[14:26] {thomcbell} lovely dino
[14:26] {dino} thx, but got out way too soon
[14:38] {thomcbell} long setup tyc 31.14 break if holding 31.04
[14:50] {Les} what are we in?
[14:50] {Will49} trouble
[14:50] {nemo} [14:11] {nemo} day should get rather dismal anytime now
[14:51] {Will49} in like Flynn
[14:51] {Les} yeh honey I know you're watching the clock for my return
[14:51] {Les} worse than a woman
[14:52] {Will49} sounds like you're "under the thumb" Les
[14:54] {Les} missed the .50 break on C
[14:54] {Les} startig to come donw
[14:54] {nemo} more, he's in front of the strap-on
[14:56] {dino} nasty
[14:57] {Les} LVS might give us 1:3 if it doesn't make it any higher, but showing relative strength at the moment
[14:58] {Les} might be an opener for tomorrow
[15:01] {thomcbell} wynn reports tonight
[15:01] {Les} CAT .90 break :(
[15:02] {Les} VAd SLW .50 short?
[15:02] {Les} sholding .60{?
01[15:04] {Threei}  ummm... yes
[15:05] {Les} can'^t u put the vodka fridge next to computer?
[15:07] {Les} frik was contemplating whethere .74 entry in LVS was good short here.
[15:07] {Les} answered me
[15:08] {Les} nice trend line support break short
[15:08] {thomcbell}   hearing SPX rolling on this....."Germany's Bundesbank objects to OMT opinion for the high court" Handelsbatt
[15:09] {Les} covered for a scalp
01[15:10] {Threei}  I read this tbell, but it's the end of November
01[15:11] {Threei}  I can't imagine who would trade on that now
01[15:12] {Threei}  anyway, here is full text
01[15:12] {Threei}  (EU) Germany's Bundesbank objects to OMT opinion for the high court - Germany press**NOTE Apr 19th (EU) Germany's highest Court to assess ESM/ECB case in early June; Court is set to asssess case between Jun 11-12th **Reminder: On Nov 28th 2012 Constitutional Court in Germany moved its decision on the EMU permanent bailout facility (ESM) into 2013 - The German court is due to present its final ruling on the ESM and to include an opinion on the ECB's OMT program. **Insight: - In Sept of 2012 Germany's constitutional court ruled against the injunction to halt the ESM and fiscal pact with conditions. - In Sept, there was speculation that the German top court could ask the European Court of Justice to rule on the constitutionality of the OMT program.
[15:19] {Les} GG short .90 holding .00?
01[15:19] {Threei}  feels like bounce more likely to me
[15:19] {Les} k
01[15:20] {Threei}  downward slope evens out
01[15:23] {Threei}  .l gg .90 break
01[15:23] {Threei} Long Setup:  GG  .90 break
01[15:23] {Threei}  If holds  .80
01[15:33] {Threei}  want 1:2 on this one
[15:33] {Les} ya better hit it with steel caps then
01[15:33] {Threei}  which still won't make me flat but will largely eliminate to pain
[15:35] {Les} damn LVS 1:3 without me
[15:35] {thomcbell} blame it on me
[15:36] {Les} U Nemo's stand in for today tbell?
01[15:36] {Threei}  1:1
[15:37] {Les} out for the scalp and outta here. green is good. gotta go buy my bagels again lol
[15:37] {Les} c u's tomorrow
01[15:37] {Threei}  ummm.... lox?
[15:38] {Les} is that "bagel with lox" or u just call it a lox?
[15:38] {Les} or lox bagel?
01[15:38] {Threei}  bagel with cream cheese and lox
01[15:38] {Threei}  lox itself it cold-smoked salmon
01[15:38] {Threei}  is
[15:38] {Les} right
[15:39] {Les} cheers
01[15:39] {Threei}  take care
[15:42] {thomcbell} wow lvs
[15:46] {dino} seas spike
01[15:49] {Threei}  ok GG
01[15:49] {Threei}  let's do it
01[15:49] {Threei}  like bees... birds... educated fleas... and all other insect crap
01[15:53] {Threei}  meh
01[15:53] {Threei}  1:1 was all it had
01[15:53] {Threei}  ok guys, not our day
[15:53] {Will49} it's been one of those days....
01[15:54] {Threei}  happens once in a while... if we don't let them win ever, they won't come out to play
[15:54] {Will49} have a good day guys
[15:54] {thomcbell} it means tomorrow we will be 8 out of 8 in first 2 hours
01[15:54] {Threei}  have a good evening, see you tomorrow
[15:54] {jdetente} ce'st la vie. Thanks Vad. Good night guys.
[15:54] {thomcbell} gn guys
[15:59] {dino} gn all