Nemo's Findings 6/16/2013

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

Well, volatility seems to have returned, which is great for daytraders.  However, for the swingers, they're kinda' in no man's land...it's "Hurry up, and wait!"

I've given you two views I use and it's a bit simpler breaking out the Moving Average and Fibonacci stuff from the trend, price level, and volume anaylsis.  In the first you can see that daily volume has generally been above average, which argues potentially that we are seeing distribution.  As you can see in the first, the 50 day MA has been the bottom for awhile.  Thursday morning the SPY touched it and never looked back basically finishing the week retracing about half the move on Thursday, but finished off the lows.  You see three fibonacci measurements.  The first on the left is the run from the last swing low to the market high.  The second one from the left, is a projection of the previous from this most recent set of lows as to where price could go in the bull case., and the third is a retracement from the highs, to the most recent lows.

In the second chart we can see that last week lows and this weeks bounce off the 50 maintained a parallel with the trend line at the top of the channel.  You can see there is still a small gap from the Monday close.  The blue rectangles are price gaps.  The red rectangles are high-volumes done at that specific price level, which are likely to be inflection areas should price retreat there.  The green lines are classic, horizontal price levels...well...call them price levels I think I see.  

Looking at SPY we have a higher low where the Wed./Thu. candle combination is considered a bullish engulfing pattern, where Friday's action consolidated in the upper half of Thursday's move, all maintaining the channel slope...I lean toward bullish. 

Interestingly enough, the IWM hasn't touched the 50 yet and volume hasn't been extraordinary:

 

Nor have the finnies, although the volume has been a bit more consistently above average:

One would have to think that the "risk on" index, IWM would start coming in before the SPY and the financials would have to break down, although the visual level of correlation between the spy and the financials must be damn close to 1.


The week that was:

You gotta' love Thursday's action...spy drops to the 50 day SMA then bounces north for the rest of the day, taking the other indexes with it...

 The week that is:

One could argue that all of them look a tad bearish on these shorter term charts, but let's see what happens in Asia and Europe on Sunday night.  Really, and I've said this before, bearish, bullish...meh...price action will tell.  The rest is arguably a waste of mental energy.  Figure out what you're going to do if price action brings you to a certain level and the setups tell you to go or not go. 

Market Week Wrap-up

TradeTheNews.com  Weekly Market Update: Markets Remain Volatile as the June FOMC meeting looms

- Market volatility is not letting up and cross currents continue to make for dramatic moves in a broad range of asset classes. Japan and handicapping future Fed moves remain the major catalysts. The Nikkei225 saw another very steep decline mid week as traders reacted with disappointment to the BoJ not taking more efforts to pump up stimulus, while USD/JPY is back trading with a 94 handle, more or less where it was when Abenomics was launched earlier this Spring. In Europe, there was more tepid economic data, although it appears that the German Constitutional Court may hand down a ruling favorable to German participation in the critical OMT eurozone backstop in September. In the US, there was another handful of somewhat disappointing economic numbers and S&P raised the US sovereign outlook to stable from negative. The dollar continues to underperform against both the euro and the yen, even as the yield on the 10-year benchmark bond pushed out to 14-month highs around 2.27% early in the week. For the week, the DJIA fell 1.2%, the S&P500 declined 1% and Nasdaq lost 1.3%.

- Perception of a soft patch in the latest US economic data and whispers out of the Fed have decisively shifted market sentiment regarding the Fed's willingness to taper QE asset purchases. The weak three-month average in non-farm payrolls, the terrible May ISM manufacturing data, the retreat in the U of Michigan sentiment index and the weakening trend in retail sales suggest the Fed has much less evidence in favor of a taper now than they did a month ago. On Thursday, the WSJ's Hilsenrath forecasted a potentially dovish Fed statement next week in which they will likely emphasize interest rates are to stay low until well after they begin calibrating quantitative easing. Newly moderate FOMC voter Bullard said that weak inflation data could possibly argue for prolonging QE asset purchases.

- Japan's Nikkei225 put in another week of highly volatile trading. Unhappiness with the third leg of Japan PM Abe's reform program was fresh in many minds heading into the BOJ rate decision on Tuesday. Expectations were that the BoJ would extend its 0.1% fixed-rate lending facility to banks from one year to two, although the bank held back and did not act to restrain rising rates, prompting a move down on Tuesday. But the big slide came on Thursday as jittery Chinese investors came back from the Dragon Boat holiday and sold off equities hard; the Nikkei dropped 6.4%, putting the index back in bear market territory from the late May highs for the second week in a row.

- The China May economic data out last weekend was somewhat disappointing. The trade numbers were way below expectations, although analysts caution that the shortfall is mostly due to a correction of inflated exports to Hong Kong from the last several quarters. Weak inflation readings were unsettling as well, although they may give the PBOC some additional flexibility on rates. Chinese markets were closed for the Dragon Boat Festival for the better part of the week.

- On Monday morning S&P raised the US sovereign outlook to stable from negative. The firm commented that the improved outlook was due to its analysis that there was less than 1-in-3 chance for a ratings downgrade in the near term, thanks to the better economic outlook and more signs that the Democrats and Republicans will be able to reach compromises on the most important fiscal issues.

- India's Apollo Tyres reached a deal to acquire Cooper Tire for about $2.5 billion, at $35/share in cash. The deal would make the combined entity the world's seventh-largest tire maker. Sprint said it had ended its talks with Dish and gave the company until June 18th to put up or shut up. In the meantime, the company said it would proceed with the deal with Softbank, which was upped to $21.6B from $20.1B. Note that press reports suggest that Google might try to help Dish sweeten its bid.

- The euro continued its month-long ascent this week, until the EUR/USD encountered resistance around the 1.3380-1.3390 zone on Thursday. The German Constitutional Court heard arguments about the constitutionality of German participation in the ECB's OMT program early in the week. Comments out of the two-day session led many to believe that the court would not block participation, especially after Justice Vosskuhle said the OMT's strict conditionality could draw a clear line between fiscal and monetary policy. Note that the Bundesbank's Weidmann reiterated his strong critiques of the OMT program at the hearings, while Asmussen offered a defense of the program.

- The unwind of the USD/JPY long trade continued apace. Like the euro, the yen closed out a fourth consecutive week of strength against the dollar, briefly testing below the 93 handle on Friday, the USD/JPY weakest level in two months - recall that the late May high in USD/JPY was around 103.54. Unhappiness with the third leg of Japan PM Abe's reform program was compounded by disappointment that the BOJ did not extend its 0.1% fixed-rate lending facility to banks from one year to two, pushing even more money out of the Nikkei and into JPY. Dollar softness was also likely due to traders betting on a more dovish Fed ahead of next week's FOMC meeting.

- The India and Turkey central banks have dived back into the FX intervention game. The Turkish Central Bank has begun direct market intervention to fight "excessive FX volatility" after the TRY sank to its weakest level against a euro/dollar basket since October 2011. The bank held five FX auctions this morning and managed to stabilize USD/ TRY for the moment around 1.8900. India's policies are more opaque: there were rumors of RBI intervention as USD/INR looked to test the key 60 level and then dropped back to the 58 handle. An Indian government official stated that "steps will be taken" to curb rupee volatility if needed, but said the recent decline was due to "debt outflows."




TradeTheNews

June 14 2013

Very nice end to the week with 3 1:3ers and something else on top. One made Catch of the Day, having benefit of being found by a room member.

Session Time: Fri Jun 14 00:00:00 2013
[09:09] {jdetente} morning guys...
01[09:10] {&Threei}  morning jd
[09:10] {stevw} g'mornin lads
01[09:10] {&Threei}  stev :)
[09:11] {RonS} howdy everyone
01[09:11] {&Threei}  ron :)
[09:11] {backman} gm
01[09:12] {&Threei}  bman :)
[09:13] {RonS} hearing oil on a run...Syria?
01[09:13] {&Threei}  most likely... talk about WH considering no fly zone
[09:14] {Les} hello
01[09:14] {&Threei}  les :)
[09:19] {Will49} gm
01[09:19] {&Threei}  will :)
[09:21] {dino} gm
01[09:21] {&Threei}  dino :)
[09:24] {ese} gm
[09:24] {Alexs} gm
01[09:26] {&Threei}  ese, alex :)
[09:26] {nemo} could be one big consolidation day today
[09:27] {dptl} gm
01[09:28] {&Threei}  dp :)
[09:28] {Les} then again, you could be hit by lightning Nemo
[09:29] {RonS} and it might rain...
[09:29] {nemo} you have two big trend days in a row and it's a Summer Friday
[09:29] {RonS} Obama is authorizing lethal military aid to Syrian rebels under a classified order | http://bloom.bg/12tgxQr
[09:29] {nemo} probabilities
[09:30] {Les} fund raising Ron?
[09:31] {Les} ah missed the 2nd line of your post
01[09:32] {&Threei} Long Setup:  GDX  .82 break
01[09:32] {&Threei}  If holds  .75
[09:32] {+cc_9} Morning Gents
01[09:32] {&Threei}  cc9 :)
01[09:33] {&Threei} Long Setup:  FCX  .75 break
01[09:33] {&Threei}  If holds  .70
[09:35] {+cc_9} Scaling some SDS on 163.80 break
01[09:36] {&Threei}  1:1
[09:36] {nemo} in or out 9?
[09:36] {+cc_9} Scaling in once we break 163.80
[09:36] {dino} tm sm l .88
[09:36] {+cc_9} i dislike opex days, a lot.
[09:37] {robbers} Out FCX, thanks Vad.
[09:37] {jdetente} 1:@
01[09:37] {&Threei}  1:2
01[09:37] {&Threei}  yw
[09:38] {jdetente} out as well. Thanks Vad
[09:38] {dino} ete sm l .60
01[09:38] {&Threei}  1:3, over and out
01[09:38] {&Threei}  :)
[09:39] {Les} missed .05 took .99 ty
01[09:39] {&Threei}  not too shabby for 5 cents risk
[09:39] {Will49} nice start tks vad
[09:41] {+cc_9} EAC is an illiquid POS, but 15/60min charts look purdy
[09:41] {dino} ete stop .39 -.21
[09:43] {dino} re-load ete .50
[09:45] {+cc_9} EAC not bad for a dog
[09:46] {+cc_9} barely 100k volume but pushing $0.50+
01[09:48] {&Threei} Short Setup: GDX  .60 break
[09:49] {Les} short index drops to yesterdays low MIGHT produce workable db's
01[09:51] {&Threei} Long Setup:  CAT  .90 break hl
01[09:52] {&Threei}  If holds  .80
[09:52] {ese} dino......you gonna get a chance to see any of the US Open this weekend
[09:54] {dino} hopefully. its only about 120 miles from me
[09:55] {ese} that would be fabulous......wish I had that opportunity
[09:55] {ese} have you ever played Merion
[09:55] {dino} no, would like to
[09:55] {Les} sds .52 to .59 watching if it returns to test support
[09:56] {Les} would like a DB
[09:56] {jdetente} see ya CAT
01[09:56] {&Threei}  *(US) JUN PRELIMINARY UNIVERSITY OF MICHIGAN CONFIDENCE: 82.7 V 84.5E
[09:57] {Les} rest SDS stopped flat looking for potential new entry
[09:58] {Les} looks like market rip coming
[09:58] {jdetente} the train coming back to the station
[09:58] {+cc_9} did someone say "train" ?
[09:58] {Les} hehe
[09:58] {jdetente} hehe
[09:59] {Les} yeh ursine sodomy train departing
[09:59] {jdetente} I believe the train had some fancy name
[09:59] {ese} looks like michigan numbers not having any effect on the mrkt
[10:00] {Les} SDS low of yesterday here
[10:00] {Les} watching if holds .40 for potential .50 break
[10:02] {Les} oh boy
01[10:02] {&Threei}  frikin CAT
[10:02] {+cc_9} Les, SDS does not have any "support" or "resistance" per say, as it just tracks SPY 1:1
[10:02] {+cc_9} get your levels from SPY chart when trading SDS (imo)
[10:03] {nemo} going for the gap fills
[10:03] {Les} oh great a second Nemo
[10:03] {dino} ete to .95
[10:03] {Les} yeh right cc
[10:03] {nemo} how many times I told you that Les
[10:04] {dino} out ete .93, slip, +.43
[10:04] {RonS} the buyer of that block on ete at 56.70 drove it down to get that price...
[10:04] {Les} very small handle on 2 day cup in indexes
01[10:04] {&Threei} Short Setup: LVS  .90 break hl
01[10:04] {&Threei}  If holds  57
[10:05] {dino} yuo take it ron?
[10:07] {Les} IWM lower high
[10:08] {+cc_9} If anyone wants a 1:1 inverse for SPY thats cheap : SH
[10:08] {Les} watching IWM as it fails to tackle yesterdays highs and sits on .50 support here
[10:09] {dino} siro drop
[10:09] {RonS} yes ete .58 to .15 +.57 thanks dino
[10:10] {Will49} good one
01[10:10] {&Threei}  L:VS valid
[10:11] {dino} siro sm l .25
[10:13] {backman} LVS good for reentry here?
[10:13] {Les} IWM weakening can SPY Drag it back up
01[10:13] {&Threei}  reentry?
01[10:14] {&Threei}  it never got stopped or reached target
[10:14] {backman} OK got it....thouht it stopped at .99
[10:14] {+cc_9} Dog with fleas, but good dog nonetheless }} http://img211.imageshack.us/img211/8572/4q6t.jpg
[10:15] {+cc_9} Like I said, EAC was illiquid, but that reversal chart was pretty nice.
01[10:15] {&Threei}  stop is above 57, right?
[10:15] {backman} gpt ot
[10:16] {RonS} ?? bman...
[10:16] {Les} IWM fails backtest of .50 resistance
[10:16] {Les} long SDS .42
01[10:16] {&Threei}  come on Ron... that was "got it" typed with knees :)
01[10:16] {&Threei}  easy to read (if you tyoe the same which is my case)
[10:17] {RonS} lol
[10:17] {Les} shoudl be in tza not sds
[10:17] {+cc_9} Les, short term on 1min support  164.35, after that 164.10 and 163.90
01[10:18] {&Threei}  1 cent to 1:1 LVS... don't do it
[10:18] {jdetente} yes LVS don't be a son of a motherless goat
01[10:18] {&Threei}  right
01[10:19] {&Threei}  LVS felt burning shame and dropped to its knees
01[10:19] {&Threei}  pouring ashes on its head
[10:19] {jdetente} hehe
06[10:19] * pragmatic :)
01[10:20] {&Threei}  1: frikin 1
[10:20] {Les} yeh I c it out sds flat want another run at the top
[10:20] {Les} indexes
[10:21] {dino} relax les. you're thinking too much
01[10:22] {&Threei}  and it rarely ends well
[10:22] {jdetente} don't go into manic mode Les
06[10:23] * Les smack himself with 4X2 for being reminded not to think, seeks whisky bottle from cupboard
01[10:23] {&Threei}  last time I had a thought, migraines wouldn't stop for weeks
[10:23] {+cc_9} SPY flushes down to yesterday's closing price before 10:30AM
[10:24] {+cc_9} aka 164.20
[10:24] {backman} short jpm .72
[10:24] {Les} meh
[10:25] {robbers} Out LVS, thanks.
01[10:25] {&Threei}  1:1
01[10:25] {&Threei}  yw
01[10:26] {&Threei}  1:2
[10:26] {+cc_9} and there goes SPY :D, Les mad he sold his SDS
[10:26] {jdetente} alright LVS you're off the SoMG list for now
[10:27] {Les} stop talking to me
[10:27] {Les} :)
01[10:27] {&Threei}  {LVS} oh thank you, thank you! WANT ME TO GIVE YOU 1:3 FOR THIS?
[10:27] {+cc_9} check the clock, check SPY pps :)
[10:27] {+cc_9} all aboard the TRAIN
[10:27] {+cc_9} lol
[10:28] {Les} wasn't a 111 setup so I should know better
[10:28] {Les} TZA was though, which was what I was basing it off
[10:28] {Les} db down to .75 at 10am
[10:28] {+cc_9} naaaaaaaaaaaaaaailed
[10:29] {+cc_9} 10:23 cc_9 SPY flushes down to yesterday's closing price before 10:30AM
[10:29] {Les} u have courage of your convictions using SSO here?
[10:29] {+cc_9} im dumping SDS here Les
[10:29] {nemo} you can short sso Les
[10:29] {Les} SOMG CC
[10:29] {backman} out +.10
[10:29] {Les} sigh
[10:30] {Les} oh well at least getting the swing of it
[10:30] {Les} nah Nemo talking of long entry SSO looking for a setup
01[10:31] {&Threei}  good one bman
01[10:31] {&Threei}  clean DBI setup
[10:31] {+cc_9} Les, here is the trade (click) }} http://img259.imageshack.us/img259/5931/fr1p.jpg
[10:31] {backman} thanx....it failed around there yesterday
[10:32] {Les} so my entry was correct then just needed to sit tight gj
[10:32] {+cc_9} Yes, thing about SSO/SDS is you don't have to freak out
[10:32] {+cc_9} they are slow movers and give you plenty time and space to scale
[10:32] {+cc_9} no halt, no sudden crash etc...1:1 SPY but cheaper
[10:33] {Les} yeh better training ETF for me
[10:33] {+cc_9} too big a pullback ? scale SSO dump the quick bounce. Over extended run ? Scale SSO and dump the quick profit taking/fade
[10:34] {+cc_9} TNA/TZA same idea but too dangerous to learn on (3:1 speed IWM)
[10:36] {Alexs} fb long .40?
[10:36] {+cc_9} somg ?
[10:36] {Les} er... typo CC :)
[10:36] {+cc_9} ugh, had me spend 3 mins on urban dictionary
01[10:36] {&Threei}  yes alex, if SPY helps
[10:37] {Les} hehehe slip of the keyboard sorry
01[10:37] {&Threei}  cc9... SoMG is our latest addition to a room slang
01[10:37] {&Threei}  Son of a Motherless Goat... applied to stiocks that rinse our entries
[10:37] {Les} SDS cup and handle .60 entry
[10:38] {Les} holding .50
[10:38] {jdetente} it's from the Three Amigos cc9
[10:38] {+cc_9} hehe, SPY flush on time
[10:38] {jdetente} LVS delivered
[10:39] {+cc_9} too bad i also dumped my SDS Les
[10:39] {+cc_9} left about 400 gorillions on the table
[10:39] {Les} .60 is SSO premarket range area
[10:39] {dino} out vsiro .95, -.30
[10:40] {nemo} 163.85 WPP spy and channel bottom
01[10:40] {&Threei}  1:3
01[10:40] {&Threei}  life is good today
[10:40] {jdetente} hit 1:4 even but I was already out
[10:40] {Will49} out 1:3 tks vad
[10:40] {nemo} finnies bounce at bottom of channel
01[10:41] {&Threei}  :)
[10:41] {jdetente} nevermind misread the print
[10:41] {Les} TLT sitting on VWAP something to watch
[10:43] {dino} fslr drop
[10:46] {dino} sm l .74
[10:46] {+cc_9} FSLR diluting from its latest news
[10:47] {+cc_9} Les, still in your SDS ?
[10:47] {Les} god no, over thought the process and stopped out too early
[10:48] {Les} long sso .52 small
[10:48] {+cc_9} ok.
[10:49] {Les} but don't listen to me :) TLT held the vwap and bounced
[10:49] {Les} .05 stop
[10:49] {+cc_9} you are trading SSO with stop ?
[10:49] {Les} .45 stop
[10:49] {+cc_9} lol
[10:49] {+cc_9} So you are not actually scaling
[10:49] {Les} god no
[10:50] {Les} but I appreciate the reason you do
[10:50] {backman} long tza .28...
[10:51] {Les} no go
[10:51] {Les} dunno if yesterdays rally was head fake but looking like it
[10:52] {RonS} like nemo said...consolidation day is all...
[10:52] {Les} yeh so give me support to work with
[10:53] {Les} FAS at pivot waiting on IWM at 98 waiting on SPY
[10:53] {RonS} ok, let me find the computer's phone numbers...
[10:53] {Les} hehehe
[10:54] {backman} out +.07
[10:57] {+cc_9} scaling some SSO .33 , tgt SPY 163.90
[10:58] {+cc_9} added .23
[10:58] {Les} in this case I look for a quarter setup  cc
[10:59] {Les} .25 cross holding .15
[10:59] {+cc_9} gotcha
[10:59] {nemo} at MPP spy daily pivot finnies just above IWM
[10:59] {Les} SPY .50 is clear support too
[11:00] {Les} getting ugly
[11:00] {backman} TZA going nuts
[11:00] {Les} hope yer still in it bman
01[11:01] {&Threei}  and I don't even want to look at LVS
[11:01] {RonS} aif .50 break if hold .40?
[11:01] {RonS} aig
01[11:02] {&Threei}  chart is right
01[11:02] {&Threei}  SPY should be able to bounce enough to support it
[11:05] {Les} tlt big vol break. lose .50 and it might be time for equities
[11:07] {+cc_9} loaded SSO
[11:07] {+cc_9} tgt SPY unchanged 163.90
01[11:08] {&Threei}  that translates in SSO .60 roughly
01[11:08] {&Threei}  AIG 1:1
[11:08] {+cc_9} yup
[11:09] {Les} took .15/.05 SSO but scalped looked for the DB not sure gonna get it. hammer type candle at :06 might have been 2nd bottom
[11:10] {nemo} surprise surprise this swing low on finnies iwm and spy was 38.2 retrace of yesterday
[11:11] {Les} here's tlt setup if anyone looking for a trade
01[11:11] {&Threei}  good spot on AIG Ron :)
[11:11] {RonS} natchi Mr. Fibbie
[11:11] {RonS} yep
[11:12] {+cc_9} scaling out SSO on 163.75 break
[11:12] {dino} siro sm l .71
[11:14] {dino} wlk spike
[11:16] {dino} wlk sm s .05
[11:17] {+cc_9} Les, this is how I scale (click) }}} http://img705.imageshack.us/img705/7863/r756.jpg
01[11:19] {&Threei}  (US) WSJ's Hilsenrath: one thing has changed: Fed wants to stress tapering QE and tightening rates are two separate tracks - CNBC interview- Fed sending a very nuanced message; there is a risk that people are taking the wrong message from all of this talk about cutting back bond buying (i.e. tapering).
[11:19] {+cc_9} (yes, I should have added even more at 7310 but I held off in case of a bigger flush)
[11:20] {dino} tm gap fill
[11:21] {Les} It's an interesting SOP. I have to watch the index with the ETF I am using and coordinate the setup from that. So SPY .50/.40 was SSO .15/.05
[11:21] {nemo} wow...I've been saying that for years and it finally sinks in
[11:21] {Les} I seek out those key quarter numbers with support zones when Nemo can provide them. Still work in progress
[11:21] {nemo} Les, I gave you the spreadsheet
[11:22] {Les} don't use it dude
[11:22] {Les} got enough on my plate already
[11:22] {nemo} it's automatic...you just plug in the ticker and it gives you updated info
[11:22] {RonS} can lead a kangaroo to drink, then he punches you in the nose...
[11:22] {nemo} change the dates on a weekly basis and then monthly when necessary, done...calculates for you
[11:23] {Les} then have to go through charts redoing the frikin lines, which FSC may or may not remember
01[11:23] {&Threei}  rofl
[11:23] {Les} funny Ron
[11:23] {Les} happy to have someone around actively trading index ETF's
[11:23] {dino} cov wlk ave flat
[11:24] {+cc_9} There goes SPY bouncing Les.
[11:24] {dino} tricky day so far
[11:24] {dino} beasty boys market
[11:24] {+cc_9} Idea still intact. Market drop, slow scale, sell the bounce
01[11:24] {&Threei}  1:2
[11:24] {+cc_9} over extended run, short slow scale etc...
[11:25] {+cc_9} 10:56 cc_9     tgt SPY 163.90
[11:25] {+cc_9} ;)
[11:25] {RonS} aig .48 to .74 thanks 3i  +.26
[11:25] {Les} accredited as security guard on Wednesday so got weekend work lined up. Just wanna show up to work without rejigging charts once a week
[11:25] {nemo} it will likely try to test 164 vwap just above
01[11:25] {&Threei}  your find, your credit
[11:26] {RonS} ...your principles...
01[11:26] {&Threei}  1:3, out
[11:27] {+cc_9} Les, a little trick : SSO is priced at exactly 1/2 SPY's pps. So the movement you look for is 1:1 as far as penny increments. (both SPY and SSO are down the same amount in dollar value -0.44)
[11:28] {+cc_9} but of course, the important math is the % leverage.
[11:30] {Les} well no deviation from VAd's approach for me. Define it, hold it, enter and exit accordingly
[11:31] {Les} but when you're sniffing around for an entry I know to look myself
[11:31] {+cc_9} tgt was 163.90. SPY max on that bounce was 163.86
[11:32] {+cc_9} sorry guys, i misled you
06[11:32] * Les slaps cc_9 around a bit with a large trout
[11:32] {+cc_9} lol
01[11:32] {&Threei}  there goes your street cred
[11:33] {Les} GDX stopped at vwap here. can't define a setup on it yet
[11:36] {+cc_9} hey, off by $0.04, ill take that anyday :D
[11:37] {+cc_9} either or, another chance to load up on that last drop
[11:37] {+cc_9} and THERE is 163.90 !
[11:38] {+cc_9} ill eat that trout now Les.
[11:39] {dino} twc spike
[11:42] {RonS} Time Warner Cable $TWC said to not be interested in Charter
[11:45] {dino} fslr stop .44, -.31
[11:48] {+cc_9} Detroit Defaulting
[11:48] {jdetente} there's a surprise
[11:48] {+cc_9} market thinks so
[11:48] {dino} funny, during obummer's campaign he bragged about detroit coming back
[11:48] {jdetente} I had to spend half of last year in that pos city
[11:49] {jdetente} people there were really nice but it's like being in a bombed out war zone
[11:49] {dino} no desire to go there
[11:50] {jdetente} I worked for Quicken Loans last year and had to split time there...
[11:50] {RonS} ya dino...pats of DC close enough...
[11:50] {RonS} parts
[11:50] {dino} yeah, same w/parts of philly
[11:51] {Les} looking for new long setup
[11:52] {+cc_9} SPY wondering if this news out of Detroit is good or bad news
[11:52] {RonS} most hated cities here:  1. Omaha 2. Philly 3. Little Rock
[11:53] {ese} hated for what
[11:54] {RonS} wprst landcape ever seen:  eastern new mexico/West Texas....all should be in one state
[11:55] {RonS} creepy/uncomfortable places ese...plus since been in 150 cities approx...a comparative...
[11:55] {ese} hmmmmm
[11:56] {ese} L irm .85
[11:56] {Les} IWM works partialling from .00 entry
[11:56] {+cc_9} Hey Les
[11:57] {+cc_9} This one for you (click) }}} http://img545.imageshack.us/img545/4317/4qs.jpg
[11:57] {+cc_9} :D
[11:57] {Les} gj saw it
[11:57] {Les} preferred using IWM round number
[11:58] {Les} IWM resistnace is .20 let's see if market puke is finished
[11:58] {+cc_9} all good.
[11:59] {RonS} twc going again...
[11:59] {dino} chtr spike
[11:59] {Les} got off 1:2 iwm at .19
[11:59] {Les} holding last piece for breakout
[12:01] {dino} twc sm s .90
[12:03] {dino} twc stop .24 -.34
[12:04] {Alexs} jpm long .40?
[12:05] {+cc_9} All done for today Les }}} http://img855.imageshack.us/img855/2638/0xt0.jpg
[12:05] {+cc_9} will wash rinse repeat Monday.
[12:05] {Les} cheers
01[12:06] {&Threei}  no confident read on this one Alex
[12:06] {Alexs} k
[12:07] {dino} twc sm s .65
[12:07] {Les} do come again cc I enjoy the tutelage :)
[12:08] {dino} twc stopped again. taking a break
[12:10] {dino} rinsed
[12:13] {ese} irm is worth a  watch dino...........have been stalking this for a week.....selling is tapering off and so it should get sucked into that void between 29 and 34 here shortly
[12:14] {ese} went long here at .85...but i have a  hunch it'll make it's run next week
[12:16] {dino} seems to be stuck 28-60-29.05
[12:16] {RonS} guess could happen ese but runup due to reit conversion plan...w/ irs saying conversion must toe 75%+ of rev must come from real estate...must ask why would it?
[12:17] {ese} agreed
[12:20] {ese} well.....when retail sold those shs last friday somebody had to buy them.....anyone making a mrkt in this one is gonna want to make some money so they try to ramp it up i figure......same old story.....might not work but it works most of the time...we'll see......in the mean time i'm up $200.00 bucks
[12:21] {ese} by retail i mean dumb money
[12:22] {ese} just a bigger version of vads scalping techniques
[12:22] {ese} and.............if i'm wrong......the stop loss is in and i've been for a good education
[12:22] {dino} lol
[12:23] {ese} not been....paid
[12:24] {dino} i don't know ese. i just see it stuck in that .40 range
[12:25] {ese} ya you could be right dino.......
[12:26] {dino} never know unless you bet
[12:26] {dino} gl on it
[12:26] {dino} jazz spike
[12:27] {ese} theres still value in this stock though.......i figue it to be about 36.00.....but thats not saying it'll get there
[12:27] {ese} tks
01[12:27] {&Threei}  somewhat unusual flower: http://goo.gl/W5WUi
[12:27] {dino} np....i don't figure values. k.i.s.s. theory
[12:27] {ese} am almost up 300 bucks anyway.......what the hell
[12:27] {ese} i'll take it
[12:28] {ese} lol
[12:28] {Les} vad any way of defaulting links away from IE to Chrome when using Mirc?
01[12:28] {&Threei}  if your default browser is Chrome, mirc should follow it
[12:29] {Les} probably from when I first started using Mirc
[12:29] {Les} wanna change it
01[12:29] {&Threei}  globally on your comp, is Chrome a default browser?
[12:29] {Les} yeh
[12:30] {dino} out siro .22, +.51
01[12:30] {&Threei}  I don't think mirc has its own setting for that, it should open in your default
[12:31] {Les} k
[12:32] {backman} C sitting just above day low
01[12:32] {&Threei}  so's JPM
[12:53] {dino} twc again spike
[12:53] {ese} gotta go all....school picnic today....have a great weekend all cya monday
01[12:55] {&Threei}  take care ese
[12:55] {dino} cya
[12:57] {RonS} wow wlt
01[12:58] {&Threei}  LINE is getting hit
[12:59] {+cc_9} oh wow
[13:03] {RonS} wlt halt?
01[13:04] {&Threei}  yes
01[13:04] {&Threei}  curcuit breaker
01[13:04] {&Threei}  Walter Energy, Inc. Said to have withdrawn $1.55B loan refinancing deal due to market conditions - Forbes (update)- Forbes notes that this is the 10th loan issue to postpone or pull such a transaction due to market volatility.
[13:17] {dino} e drop
[13:19] {RonS} e- lower?
[13:19] {dino} fast drop
[13:19] {dino} looking for bounce
01[13:20] {&Threei}  LINE Linn Energy, LLC Investor relations contact notes that the Berry Petroleum deal remains on track- Blamed the recent stock declines on short sellers and hedgefunds.
01[13:20] {&Threei}  really?
01[13:20] {&Threei}  now I want to short it
[13:20] {RonS} lol
[13:20] {dino} e sm l .58
01[13:21] {&Threei}  every time company starts whining about short sellers, it's a surefire sign of troubles
[13:23] {+cc_9} SPY hanging off a thread, max opex pain
[13:25] {RonS} where do you get that info cc...??
[13:26] {+cc_9} its not a secret that today is options expiration
[13:26] {nemo} wow, so much for consolidation
[13:26] {RonS} but you are effectively picking a pin number...also only weely opex...jus sayin...
[13:27] {RonS} weekly
[13:28] {RonS} all the "free" max pain sites I know of have moved to a sub model...
[13:28] {dino} next fri ops exp, 3rd friday each month
[13:28] {+cc_9} i don't think im following what you are saying Ron
[13:28] {+cc_9} days like today, i track the big active option stocks, like GOOG
[13:29] {+cc_9} and try to guesstimate a possible pin close
[13:29] {RonS} Les is the only guy allowed not to count here cc...:)
[13:32] {+cc_9} whoa
[13:32] {+cc_9} what the hell is this movement on SPY
[13:32] {+cc_9} was it just me getting a flood of data or everyone got these high low wicks on the last 1 min
[13:32] {nemo} this is 50% retrace of yesterday
[13:33] {nemo} plus it's a whole number
[13:33] {RonS} but, the big Q:  is it gluten free?
[13:34] {+cc_9} 163.20 both interim wall and also breakout on 1min
[13:35] {+cc_9} market up @ open, stocktwits "long guys, gotta be long"
[13:35] {+cc_9} market on a fade here, stocktwits "haha who is buying this! 160 wont hold"
[13:36] {+cc_9} ugh...
[13:38] {Will49} what atwit eh?
[13:38] {Will49} a twit..
[13:40] {nemo} indexes flashing long here
[13:40] {+cc_9} SPY this last downtick was exactly $0.01 below previous LOD. must be hunting for stops
[13:41] {nemo} that's what the hft sniffer programs do, look for stops and which way the order flow is leaning, then pushes the other way
[13:42] {jdetente} took another short UVXY similar to yesterday...covering here +.52
[13:43] {+cc_9} SPY just sitting there now, strange
[13:43] {+cc_9} it usually pulls a way or another at these levels
[13:43] {+cc_9} spoke right on time lol
[13:43] {jdetente} well dang what a difference 5 seconds makes
[13:43] {jdetente} haha
[13:44] {nemo} go write a SALT treaty or somethin'
[13:44] {+cc_9} i just want to see 163.20 on the bid SPY
[13:44] {+cc_9} otherwise we get another trap for fresh lows.
[13:44] {nemo} should test that resistance
[13:45] {+cc_9} closing in
[13:45] {+cc_9} knocking
[13:46] {+cc_9} push
[13:47] {+cc_9} 163.20 wall @ work
[13:47] {+cc_9} jesus christ, that wick lol
[13:47] {nemo} 'wall might be a little strong, divider, shoji screen...meh
[13:47] {dptl} long CRM .71 will keep .64 as stop tight
[13:48] {+cc_9} we crush .20
[13:48] {+cc_9} and fly easy
[13:48] {+cc_9} 13:34 cc_9 163.20 both interim wall and also breakout on 1min
[13:49] {nemo} whaddya' mean by "interim"?
[13:49] {+cc_9} short term
[13:50] {dino} e stop .43 -.15
[13:50] {+cc_9} im going to stop all inhalation. Will only breath once 163.20 on the bid
[13:50] {+cc_9} pray for me fellas
[13:51] {jdetente} countdown
[13:51] {jdetente} cc going to pass out
01[13:51] {&Threei}  that blue shade in face can't be healthy...
[13:51] {+cc_9} ffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffff
[13:51] {nemo} call me when you need an exorcism
[13:51] {jdetente} he's dead
[13:52] {dptl} nope stoped CRM
[13:52] {dino} i can see him
[13:52] {RonS} send Les to give him mouth to mouth...
[13:52] {+cc_9} ok guys im ok im fine
[13:52] {+cc_9} dont send anyone
[13:52] {+cc_9} i cheated
01[13:52] {&Threei}  too lare cc... Les is on his way
01[13:52] {&Threei}  late
[13:53] {jdetente} and he brought his leiderhosen
[13:53] {+cc_9} well damn it, that 163.20 was stronger than I thought.
[13:54] {RonS} and he's gonna hosen you sooner that leider...
[13:54] {RonS} than
[13:54] {+cc_9} lol
[13:56] {+cc_9} not looking good
01[13:57] {&Threei}  lol
[13:57] {+cc_9} took 10mins to climb to resistance and 2 minutes flat go give it all back
[13:57] {+cc_9} on very light volume
[13:57] {+cc_9} 1min SPY volume bar @ 1:52PM is a joke
01[13:59] {&Threei}  damn, jd, you owe me another keyboard
01[13:59] {&Threei}  and ron
01[13:59] {&Threei}  you can share the cost
[14:00] {jdetente} there is a method to my madness
[14:00] {jdetente} I own a keyboard company
01[14:00] {&Threei}  oh good, then Ron only spends on shipping
[14:01] {jdetente} keep eating them and spilling coffee on them hehe
[14:01] {+cc_9} milking the time on the clock (opex)
01[14:01] {&Threei}  btw... do you have any with engraved letters that wouldn't fade away?? I seem to have a sandpaper on my fingertips, destroying those letters in a few months
[14:02] {jdetente} yes we call that the Ukrainian Executive model
[14:03] {nemo} see that tweetofGod?
[14:05] {backman} TZA...above .80?
01[14:05] {&Threei}  worth a try but chances are like 52/48
[14:05] {jdetente} that's a good one nemo...
[14:06] {Les} W;LT inverted cup an dhandle
[14:06] {Les} .10 break
[14:06] {jdetente} "Priests should not have to live in a state of forced celibacy, but be free to marry and let celibacy slowly descend upon them the usual way."
[14:06] {jdetente} from TweetofGod
[14:06] {dino} twc sm s .58
[14:06] {nemo} fas and iwm looking long
[14:07] {+cc_9} I don't think ive ever had to beg for $0.10...
[14:07] {+cc_9} 163.20 on bid god damn it
[14:07] {jdetente} here it comes again cc...are you holding your breath again?
[14:07] {nemo} keep the KY handy
[14:08] {+cc_9} im trying to sell SSO .93 / 94
[14:09] {Les} thanks Nemo was a bout to log off. iwm .60 break is good
[14:09] {+cc_9} HUUURAAAAAAAAAAAY
[14:09] {+cc_9} all out lol
[14:09] {Les} scalp only
[14:09] {Les} spy smack into pivot
[14:10] {Les} what was yer setup cc?
[14:10] {nemo} will likely go to vwap
[14:10] {+cc_9} loaded SSO on the drop 163 SPY
[14:10] {+cc_9} kept adding
[14:10] {+cc_9} ended up 5k shares
[14:10] {Les} lol living dangerously
[14:11] {nemo} what was your stop, or did you partial along the way?
[14:11] {jdetente} yeah no kidding...wearing diaper?
[14:11] {+cc_9} ok, all done, here is my P&L (click) }}} http://img35.imageshack.us/img35/8497/lqpv.jpg
[14:11] {Les} good day. less buying anything, more profitable entries. Will leave it here
[14:12] {RonS} omg wlt halt again
[14:12] {dino} cov twc .18, +.40
[14:12] {Les} c u's monday, gotta find my boy at the local fair
[14:12] {nemo} not if he's lucky
[14:12] {Les} dumbass
[14:12] {Les} a+
[14:12] {RonS} lol
[14:13] {nemo} he provides endless material
[14:13] {+cc_9} lol take care
[14:19] {+cc_9} someone give me back those 5k SSO shares
[14:19] {+cc_9} #$%@#$%@#%$#%
[14:20] {nemo} vwap run, but pivot could hold it up
01[14:20] {&Threei}  TZA never triggered... probably to the best
[14:20] {nemo} short iwm,
[14:20] {+cc_9} NOOOOOOOOOOOOO
[14:21] {nemo} they either want a doji on the day or new highs
[14:21] {jdetente} seller's remorse?
[14:21] {+cc_9} only left about $2,000 or so on the table
[14:21] {+cc_9} ugh...
[14:21] {jdetente} that stings a bit
[14:21] {+cc_9} 163.20 was the key
[14:21] {nemo} what's interesting is it came back to support at old resistance perfectly
[14:22] {+cc_9} draw a line there u will see both wall on the first attempt and support on the slight fade once it broke it
[14:22] {+cc_9} yes nemo
[14:22] {Alexs} did we have set up on TZA Vad?
[14:22] {+cc_9} this is why i track SPY every single trading day
[14:22] {nemo} yeah, I have IWM SPY and FAS up at all times
[14:23] {dino} c l .45
01[14:24] {&Threei}  discussed .80 break a while ago... I was lukewarm on it
[14:24] {Alexs} ok
01[14:46] {&Threei} Short Setup: GDX  .20 break
01[14:46] {&Threei}  If holds  .30
[14:49] {dino} c stop -.10
[14:53] {nemo} http://on.fb.me/11eKwKg
[14:54] {jdetente} friend of yours?
[14:56] {nemo} I give animals the benefit of the doubt over humans
[14:57] {jdetente} wise
[15:02] {RonS} those guys destroyed the abalone industry in the '70's when they became protected, then spawned shark attacks on the surfers when their population soared...no fan here...
[15:04] {nemo} idiot humans...not there fault
[15:04] {nemo} their
[15:04] {RonS} had friends who were ab divers, and surfers who were attacked...
[15:05] {nemo} animals just play their role, Nature figures out how to balance them out, and humans fuck it up
[15:05] {nemo} We have a problem of MA with great whites because of the seal population
[15:05] {Will49} as Vad says...it's the thinking that's the problem
[15:06] {+cc_9} ok fellas
[15:06] {+cc_9} catch u all Monday
[15:06] {+cc_9} for more breath holding
[15:06] {Will49} peace cc
[15:06] {+cc_9} you all have a great weekend
[15:06] {RonS} ccya-9...
[15:06] {dino} cya cc, gj
01[15:06] {&Threei}  and the more we think the deeper problems we create... in our smag confidence that we can actually think up something better than nature did
01[15:06] {&Threei}  take care cc
[15:07] {Will49} I love the line used when something gets screwed up
[15:07] {Will49} "our best thinking got us here"
01[15:07] {&Threei}  yup :)
[15:08] {Alexs} bby short .70?
01[15:09] {&Threei}  looks nice
01[15:09] {&Threei}  yesah, I'll try that
[15:15] {RonS} fb   product event 6/20 announced...
01[15:16] {&Threei}  do they add Dislike button?
[15:16] {nemo} I want a HATE! button
[15:16] {RonS} bet here...NSA direct button...
[15:20] {Alexs} looks like GDX moves in the opposite direction to the GLD
01[15:20] {&Threei}  more tied with SLW than GLD right now
[15:21] {Alexs} why?
[15:21] {nemo} I remember my uncle showed me an arial view of his house...very detailed
[15:22] {nemo} He worked at Ft. Meade, I think a friend of his over in the Recon office was testing one of the Keyhole Sattellites and took a picture and sent it to him...I forgot the whole story it was so long ago
[15:22] {RonS} talking to bunny?
[15:22] {nemo} I was 14 I think, and I said, "What was a plane taking pictures of your house for?"
[15:23] {nemo} yep...that would be early 70's
01[15:23] {&Threei}  well GDX is miners
01[15:23] {&Threei}  SLW is miner, and one of major ones
[15:23] {nemo} and GDXJ is....?
[15:24] {nemo} actually SLW is not a miner
01[15:24] {&Threei}  minor miners
01[15:24] {&Threei}  well, it's a conglomerate of miners to be more precise
01[15:24] {&Threei}  of sorts
[15:24] {dino} roc spike
[15:24] {nemo} I believe they are basically a brokerage that buys up the production of different miners
[15:24] {backman} FB found some love
[15:24] {dino} sm s .00
01[15:24] {&Threei}  proxy enough to be a solidl weight in GDX
[15:24] {nemo} must be because of the baby seal video
01[15:25] {&Threei}  right
[15:29] {dino} cov roc .70, +.30
01[15:31] {&Threei}  Facebook To host new product launch on June 20th - Engadget- Engadget speculates Facebook may be launching an RSS reader.
01[15:31] {&Threei}  really?
[15:32] {jdetente} desperate
01[15:32] {&Threei}  what an incredibler innovation
[15:32] {jdetente} look...we did, something!
01[15:32] {&Threei}  hashtag...
01[15:32] {&Threei}  now RSS...
[15:32] {jdetente} #desperationlossofsharevalue
[15:32] {Will49} lol
[15:33] {dino} whats next, smiley faces
01[15:33] {&Threei}  what's next, tabs?
01[15:33] {&Threei}  ah yes, smilies!
01[15:33] {&Threei}  you got it dino
[15:33] {dino} hope they don't add your trout slap
06[15:33] * dino slaps Threei around a bit with a large trout
[15:34] {Alexs} lol
01[15:34] {&Threei}  lol
01[15:35] {&Threei}  if you make it smoked throut I"ll skip shower
01[15:35] {&Threei}  trout
[15:35] {dino} lol
[15:35] {jdetente} oh no
[15:36] {Alexs} I don't understand why GDX SLW move opposite the GLD
01[15:36] {&Threei}  I think it's not so much opposite as independent
01[15:38] {&Threei}  also look at ABX
01[15:38] {&Threei}  one of big names in gold mining
01[15:39] {&Threei}  if not the biggest
01[15:39] {&Threei}  miners don't move on gold price only, there are other factors
01[15:39] {&Threei}  1:1
01[15:40] {&Threei}  Fur Boots song is back
[15:40] {jdetente} scalp for me..thanks
01[15:40] {&Threei}  I missed it...
01[15:40] {&Threei}  yw
[15:40] {Alexs} but today it looks exactly opposite
[15:41] {dino} rgld and gold down
01[15:41] {&Threei}  why... look at spike in GLD rght after 10
01[15:41] {&Threei}  GDX went up too, although to a lesser degree
01[15:42] {&Threei}  it's just much weaker than metal
01[15:42] {&Threei}  as for why, well... it's not like each and every move needs to have a backstory
[15:42] {Alexs} yeah lol
01[15:43] {&Threei}  some of them are because of shares rebelancing, supply and demand caused by million factors
01[15:43] {&Threei}  and some of them are just because
[15:43] {dino} some may be people raising cash just want out
01[15:44] {&Threei}  on my seminars, when I talk about impossibility to know everything and analyze and predict every move, I like citing this hypotheticalscenario:
01[15:44] {&Threei}  imagine a big fund owner who has big stake in your stock coming home and finding his wife in a bed with a pool boy
01[15:45] {&Threei}  guy throws him out of the windowm, her out of the door,
01[15:45] {&Threei}  calls his attorney
01[15:45] {&Threei}  it becomes clear to him that he faces messy and costly divorce,
01[15:45] {&Threei}  he designs a strategy to minimize damage,
01[15:46] {&Threei}  and one of the moves in this strategy is diminishing his exposure to stocks and using much more liquid cash
01[15:46] {&Threei}  Next morning your stock gets hit with his selling.
01[15:46] {&Threei}  Predict this!
[15:46] {Alexs} lol
01[15:47] {&Threei}  Every time you see a market guru telling you that he knows how to analyze everything and figure out the future, you know you deal with a fraudster or idiot
01[15:47] {&Threei}  whatever you pick, you want to stay away from him :)
[15:47] {thomcbell} i just sign in and a magical comment from Vad
01[15:47] {&Threei}  lol
[15:48] {dino} vad explaining the facts of life
01[15:48] {&Threei}  you missed a story before that... but it will be in a log :)
[15:49] {RonS} wlt not gonna open....can you imagine holding...ooof...waiting for the ooga booga...
[15:49] {dino} i want to know if the pool was for billards or swimming
[15:49] {RonS} lol
01[15:49] {&Threei}  when you read all those internet blogs and forums, you can't help buit get amazed how many people actually understand this
01[15:49] {&Threei}  I meant how few
[15:50] {RonS} fortunate here that one is Les...
01[15:50] {&Threei}  my assumption would be, swimming
[15:50] {RonS} Nemo, not so much...
[15:50] {RonS} :D
01[15:50] {&Threei}  they involve more service than billliards :)
[15:50] {dino} roc sm s .15
01[15:51] {&Threei}  OK guys, we end this uneven week on a very good note
01[15:51] {&Threei}  strong day, with 3 1:3ers
01[15:51] {&Threei}  and a few scalps
01[15:52] {&Threei}  have a great weekend, see you Monday!
[15:52] {Will49} cheers
[15:53] {dino} stop roc .34 -.19
[15:53] {dino} calling it a week, thx all
[15:54] {Alexs} now GDX moves like GLD. So everything is OK with GDX owner's wife :)
[15:54] {dino} lol

June 13 2013

Copy of last two days. Slow climb, boring trading. Hopefully with opex it ends. 

Session Time: Thu Jun 13 00:00:00 2013

[09:01] {stevw} hey, why so quiet - you guys didn't stay up for the triple-OT last night, did you?

01[09:01] {&Threei}  morning stev

01[09:01] {&Threei}  triple-OT?

[09:01] {stevw} Chicago over Boston in the Stanley Cup

01[09:02] {&Threei}  oh

[09:11] {+cc_9} Good morning Vad, gents.

01[09:12] {&Threei}  morning cc9

[09:16] {Alexs} gm

01[09:17] {&Threei}  alex :)

[09:17] {RonS} Hello everyone

[09:17] {Les} yo

01[09:17] {&Threei}  ron, les :)

[09:17] {backman} gm

01[09:17] {&Threei}  bman :)

[09:18] {Will49} gm

[09:18] {jdetente} morning guys

01[09:18] {&Threei}  will :)

01[09:18] {&Threei}  jd :)

[09:20] {dptl} gm

01[09:20] {&Threei}  dp :)

[09:21] {cipher} gm

01[09:21] {&Threei}  cipher :)

[09:23] {dino} gm

[09:23] {ese} gm

01[09:23] {&Threei}  dino, ese :)

[09:23] {ese} vad dino

[09:24] {dino} vad ese

[09:26] {ese} if we accidentally spell vads name wrong intros become Bad Dino...Bad Ese

[09:27] {RonS} ...or Mad Ese?

[09:29] {ese} true

[09:29] {+cc_9} we bounce today, put holders get screwed into tomorrow

01[09:30] {&Threei} Short Setup: GDX  .10 break

01[09:30] {&Threei}  If holds  .20 

01[09:30] {&Threei}  kangaroo tail

[09:31] {ese} agreed cc...should bounce a bit today

01[09:34] {&Threei}  Invalidated  

01[09:35] {&Threei} Short Setup: JPM  .10 break

01[09:36] {&Threei}  If holds  .17 

01[09:37] {&Threei}  no go

[09:38] {dino} gci sm s .10

[09:38] {Les} Nikkei and S&P futures suggest possible DB in daily time frame

01[09:40] {&Threei} Short Setup: KMO  .45 break hl

01[09:40] {&Threei}  KMI

01[09:41] {&Threei}  If holds  .55 

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

01[09:42] {&Threei} Short Setup: FCX  .45 break

01[09:42] {&Threei}  If holds  .55 

[09:44] {dino} cov gci .05, +.05, won't drop

[09:45] {+cc_9} ese, les, this one is for you }} http://img443.imageshack.us/img443/8474/traden.jpg

[09:45] {dino} iep sm l .25

[09:46] {ese} not showing anything cc

[09:47] {Les} lol cc don't dick around do ya

[09:47] {+cc_9} click on the right side of }} http://img443.imageshack.us/img443/8474/traden.jpg

[09:47] {Les} target KMI?

[09:48] {Alexs} what target kmo?

01[09:48] {&Threei}  nice daily... let's try for 1:3 and let it decide

[09:48] {Les} taken a little .37

[09:48] {ese} sheesh.....wow....slow down man slow down

01[09:48] {&Threei}  1:1

01[09:49] {&Threei}  1:2

01[09:50] {&Threei}  (JP) Magnitude 5.6 earthquake strikes near Japan

[09:52] {+cc_9} that's what happens when you stop stimulus

01[09:52] {&Threei}  lol

[09:52] {Les} hehe

[09:53] {Les} GDX dt

[09:53] {Les} see if holds. 30

01[09:53] {&Threei} Short Setup: GDX  .25 break

01[09:54] {&Threei}  last piece KMI out on a trail

01[09:55] {&Threei}  If holds  .32  GDX

[09:55] {Les} tight setup on FCX here long maybe or two way

[09:56] {stevw} CAT is on a relentless climb - up a buck now - may become interesting to watch for a top

[09:57] {+cc_9} headfakes down @ open, time to cover ahead of opex, nice bounce so far

[09:57] {Les} futures shows s&p db possibility

01[09:58] {&Threei}  (US) APR BUSINESS INVENTORIES: 0.3% V 0.2%E- Prior revised lower from 0.0% to -0.1%

01[09:59] {&Threei}  Invalidated  FCX 

[10:00] {+cc_9} look @ that SSO now les/ese. Yes I am mad

[10:01] {Les} coulda shoulda woulda 

01[10:01] {&Threei}  meh

[10:02] {Les} you know you shouldn't take my setups vad :)

[10:03] {Will49} lol

[10:03] {jdetente} so less Les is more?

[10:04] {Les} GLD!!

[10:05] {Les} short .091

[10:05] {Les} .01

01[10:05] {&Threei} Long Setup:  IWM  .85 break

[10:06] {Les} partial GLD 1:1

[10:06] {Les} tjere's the DT

01[10:10] {&Threei} Long Setup:  IWM  .60 break

01[10:10] {&Threei}  If holds  .50 

[10:10] {Alexs} too fast

[10:11] {Will49} no kidding

[10:11] {jdetente} yup

[10:11] {Les} 1:2 GLD

01[10:11] {&Threei}  no secondary entry if pulls back

[10:14] {RonS} hfc sm l .58

[10:16] {Les} 1:3 gld me out

[10:16] {Les} me happy

[10:16] {Alexs} gj Les

[10:17] {RonS} me changing name to Tarzan...

[10:17] {Will49} lol

[10:17] {Alexs} IWM was nice

[10:18] {Les} 1:4 :(

[10:19] {stevw} geez Les, you were happy 2 minutes ago

[10:19] {Les} attention span of a goldfish

[10:19] {Alexs} greed is good

[10:20] {stevw} emotional stability of a puppy

[10:20] {jdetente} haha

01[10:21] {&Threei}  I've seen dandelions in strong wind that are more stable than Les {G}

[10:21] {Les} hehe

[10:21] {jdetente} Vad's filling in for Nemo today I see...good job boss 

[10:22] {Les} I'm sure they have drugs for that. I've yet to locate them

06[10:22] * &Threei takes a bow

[10:22] {RonS} 3i far far more poetic than Nemo...

01[10:23] {&Threei}  that's all the bacon, ron

01[10:23] {&Threei}  bacon makes one a poet

[10:23] {jdetente} hmmmm bacon

[10:23] {RonS} rapier v meatcleaver

[10:23] {stevw} Francis?

01[10:24] {&Threei}  lol

[10:24] {RonS} lol stev

01[10:29] {&Threei} Long Setup:  TZA  .40 break

01[10:30] {&Threei}  If holds  .30 

[10:32] {RonS} out hfc .95 +.37

[10:32] {Alexs} full lot TZA?

01[10:32] {&Threei}  yeah

[10:32] {dino} gj

[10:33] {Will49} beauty ron

01[10:33] {&Threei}  wtg

01[10:33] {&Threei}  Invalidated  

[10:35] {ese} vad...when you've got a sec....IRM  .90 to .60 quick slide/ bounce /retest of lower BB/ didn't break it....would that have been a good entry breaking the high of that 1min doji bar?

[10:35] {Alexs} looks valid again TZA?

01[10:36] {&Threei}  yes, valid now, if not losing .30 anymore

01[10:37] {&Threei}  looks right to me, ese

[10:37] {ese} tks

[10:37] {+cc_9} anyone here keep an eye on YOKU ?

[10:37] {ese} working on that strategy

[10:37] {Will49} yoku ono?

[10:37] {ese} i like it

[10:38] {ese} lol

01[10:38] {&Threei} Long Setup:  JPM  .50 break

01[10:38] {&Threei}  If holds  .40 

[10:39] {ese} watch out for that one will.....i hate the way it trades....

[10:39] {ese} it's taken me for a few rides

[10:39] {Will49} :)

[10:39] {ese} big spreads sometimes appear out the blue with that one

01[10:41] {&Threei}  .45 break as an aggressive entry... if you prefer those, looks decent here

01[10:50] {&Threei}  let's go JPM

[10:53] {jdetente} some inspiration for JPM https://www.youtube.com/watch?v=htgr3pvBr-I

01[10:54] {&Threei}  sigh

[10:54] {jdetente} jeez and I thought Toto would help :(

01[10:54] {&Threei}  SPY pullback killed its inspiration

[10:56] {dino} out iep .26, +1.01

[10:56] {Will49} outstanding

[10:56] {dino} ty

[10:56] {RonS} gj

01[11:02] {&Threei} Short Setup: GDX  .10 break

01[11:03] {&Threei}  aggressive entry for am inverted C&H

[11:04] {RonS} bks going for gap fill...

01[11:09] {&Threei} Long Setup:  TZA  .40 break

01[11:09] {&Threei}  yes, again... lol

[11:10] {jdetente} deja vu

[11:10] {ese} vad.......does the (13, 1.7) BB settings work on daily charts....or is it just a specific setting for intra day 1min 5 min etc etc?

01[11:10] {&Threei}  the shorter times frame, the less time period and of course deviation

01[11:11] {&Threei}  for daily, leep standard, 20/2

[11:11] {ese} ok tks

[11:13] {jdetente} do your thing GDX....

[11:14] {jdetente} die!

[11:14] {Les} GDX can't die

[11:14] {jdetente} Zombie Apocalypse??

01[11:14] {&Threei}  why?

01[11:14] {&Threei}  not only it can, it must

[11:14] {Les} there is 'unprecedented' demand for gold in the world

01[11:14] {&Threei}  oh that

[11:15] {jdetente} so the banksters can be gelded??

01[11:15] {&Threei}  but Les... you forgot, GLD and GDX are evil creation of wall street, and exist on paper only

01[11:15] {&Threei}  physical is where it's at

[11:15] {Les} so we are selling a fantasy?

01[11:15] {&Threei}  yes!

01[11:15] {&Threei}  buying too btw

[11:16] {Les} no wonder people call us wayless scoundrels and speculators

01[11:16] {&Threei}  they do?

[11:16] {Les} read it in the press

[11:16] {jdetente} I think Les has unresolved guilt about being speculator...

01[11:16] {&Threei}  sounds like nice compliment, considering the source

[11:17] {jdetente} speculators make the world go round Les

[11:17] {Will49} I'm a secular speculator spectator

[11:17] {jdetente} the worst kind Will hehe

[11:18] {Will49} :)

06[11:18] * Les slaps jd for his grandiose visions of larceny

[11:18] {jdetente} nice

[11:18] {Alexs} The Trust holds gold and issues shares (Shares) (in minimum blocks of 100,000 Shares, also referred to as Baskets) in exchange for deposits of gold and distributes gold in connection with redemption of Baskets

[11:18] {jdetente} I forget you're a lib Les :)

[11:18] {Alexs} so its real

01[11:19] {&Threei}  I am an inspector suspecting secular speculating spectators of unspecified (insert your own word)

[11:19] {Les} never voted in my life jd

[11:19] {Will49} oooha

[11:19] {jdetente} really Les?

01[11:19] {&Threei}  no Alex, not in eyes of cpnspiracy theorists,

06[11:20] * Les slaps vad for seeking out an english dictionary

01[11:20] {&Threei}  because in their world there is no actual gold in those holdings

01[11:20] {&Threei}  they claim it's all big sham

01[11:20] {&Threei}  see now C&H forming on GDX?

[11:20] {Les} nope

01[11:21] {&Threei}  you need to look at the chart for that, Les...

01[11:21] {&Threei}  1:1

[11:21] {Les} oh

[11:21] {dptl} lol

01[11:21] {&Threei}  this is what I envisioned with that entry

[11:21] {Les} that's what artists do

01[11:21] {&Threei}  just hope it's not ending as a frikin scalp

[11:21] {Les} I just obey orders

[11:21] {Les} sometimes

01[11:22] {&Threei}  so Les, let me get it straight... you are raving against authorities running the wolrd in a wrong way, but you never vote?

[11:22] {Les} how the frick can I?

[11:23] {Les} I am a foreigner in this country

[11:23] {Les} army till 26. too dumb to vote back in Oz

01[11:23] {&Threei}  you are a complicated man :)

[11:23] {RonS} never stopped the Mexicans here...

01[11:23] {&Threei}  rofl

[11:23] {Les} one world govt. would fix everything

01[11:23] {&Threei}  fix as in neutered? yes

01[11:24] {&Threei}  or as in, rigged? yes as well

[11:24] {jdetente} you're in California too Ron?

[11:24] {RonS} run by Lux Luthor?

01[11:25] {&Threei}  or Putin

01[11:25] {&Threei}  he lectured Obama about privacy a few days ago, must be a good protector of human rights

[11:25] {RonS} CO...the dems everywhere have set vote system for fraud...

01[11:25] {&Threei}  right?

[11:26] {RonS} aren't they the same?

[11:26] {Les} who said one needed to be honest to lecture someone else? Where the heck r u from?

01[11:26] {&Threei}  ummm

[11:26] {Les} go back to Titan

01[11:26] {&Threei}  I guess sarcasm doesn't translate well over the net

[11:26] {Les} sure it does

[11:27] {RonS} my Dad has never played hockey...but yells at Sharks coach about what to do...

[11:27] {Les} it was a sarcastic reply, as if you were being straight faced

01[11:27] {&Threei}  ok... as I said before, you are a complicated man :)

[11:27] {Les} I'm getting the hang of it here

[11:28] {Les} problem is you've only got Nemo

[11:28] {Les} and he's just a blunt instrument

01[11:28] {&Threei}  hey, horses for courses

01[11:28] {&Threei}  one needs both, surgical scalpel and ax

[11:29] {Les} Nemo the bludgerer

01[11:29] {&Threei}  nemo's great at beheading

[11:29] {Will49} don't talk about nemo...he's at a funeral

[11:29] {Les} but I get yer sarcasm

[11:29] {Les} you clearly don't get mine ;)

[11:29] {RonS} that was yesterday...today hungover from wake...

01[11:29] {&Threei}  then there is a Torquemada approach

[11:30] {Will49} i stand corrected

[11:31] {Will49} in fact, you should stand up for ten minutes out of every hour when trading

01[11:31] {&Threei}  GDX... lose .95 and DIE

[11:31] {Will49} learned that in medical school

[11:32] {RonS} lol...had to go to medical school to learn to get off my ass...

[11:32] {Will49} was in the lobby visiting a friend and read it in a magazine

[11:32] {RonS} lol

[11:32] {dptl} lol

[11:33] {dptl} and i was wondering why am i falling asleep all the time

[11:33] {Will49} that and the vodka

[11:33] {Les} brain compression dp

01[11:33] {&Threei}  careful with such sources Will... as Abraham Linclon warned us, "Not everything you read on Interenet is true"

[11:34] {Will49} this was in a print magazine so must be true

01[11:34] {&Threei}  wow... there are those still? then yes

[11:34] {Will49} in my world for sure

[11:35] {Will49} still have a rotary dial phone

[11:35] {Les} Hustler still the source of quality journalism?

[11:35] {stevw} two-hander?

[11:35] {Will49} i'm so old, i don't buy green bananas

01[11:35] {&Threei}  lol

01[11:35] {&Threei}  GDX

01[11:35] {&Threei}  do it

[11:36] {stevw} the midday price stickiness

[11:36] {RonS} unheard of:  Hong Kong to handle #NSA leaker extradition based on law http://bit.ly/19uBMnS

[11:40] {stevw} we going to see a failure to breakout on CAT?

01[11:41] {&Threei}  really can't tell

01[11:45] {&Threei}  An oil line in in Sudan has exploded as a result of conflict between the Army and Rebel south

01[11:46] {&Threei}  (PT) IMF Portugal staff review finds that the public debt condition is very fragile and the political and social consensus is weak- Sees 2013 GDP contraction - public debt expected to peak near 124%/GDP - Portugal has met its performance criteria - Cannot guarantee that Portugal's debt is sustainable, unclear whether Portugal's debt issuance can achieve the scale that is necessary

[11:47] {+cc_9} Portugal soon to follow Greece : can only have radio, peasants

01[11:48] {&Threei}  (US) EU Trade chief reportedly aims to compromise in efforts to assuage concerns from the French on culture regarding the trade discussions with the US - press- Aims to provide EU members with a voice in negotiations with the US

01[11:48] {&Threei}  huh?

01[11:48] {&Threei}  on culture?

[11:50] {nemo} SPY done serious volume this morning looks like they're trying to put a bottom in this puppy

[11:51] {nemo} How'd the morning go so far?

[11:52] {Will49} nemo, les was concerned about your wellbeing

01[11:52] {&Threei}  back and forth

[11:52] {nemo} you got brown eyes Will?

[11:52] {Will49} haha

[11:53] {nemo} fas and iwm at pivot spy just about

[11:55] {Will49} obama's pastor?

[11:57] {stevw} you know stuff like that?!

[11:57] {Will49} my trivia memory

[11:58] {Will49} Rev Wright was his pastor, no?

[11:58] {Will49} American's?

[11:58] {stevw} i'm only smart enough to know i don't have enough brain cells to record that kind of info

[11:58] {Will49} problem is that's only stuff i store

[11:59] {nemo} what?  you an 8086 architecture?

[11:59] {Will49} told you i'm a luddite

[11:59] {stevw} if you paid attention to my comment, nemo, you'd not have used such a term

[11:59] {nemo} thought you were a Phillistine

[12:00] {Will49} duls citizenship

[12:00] {Will49} duel

[12:00] {dino} lulu luv today

[12:00] {nemo} My comment was at your expense

[12:01] {Will49} ok now...this stalled trade is cutting into my morning ablusion time

[12:01] {Will49} ablution?

[12:02] {+cc_9} SPY 162.75 first wall

[12:02] {jdetente} obliteration?

[12:02] {Will49} some times

[12:05] {dino} morning?

[12:05] {Will49} 9 am

[12:05] {dino} noon here

[12:06] {Will49} talkin wet coast fella

[12:07] {dino} ese, us open delayed, starting in 10

[12:09] {Alexs} are you still in GDX Vad?

[12:09] {jdetente} that printed .11 a few minutes ago

01[12:09] {&Threei}  lol... it did but I wasn't here

01[12:09] {&Threei}  anyway, it lost shape and sense

[12:10] {jdetente} see I followed the rules today haha

[12:10] {Will49} good boy

[12:10] {Alexs} yah I saw that print but now it disappeared

[12:10] {jdetente} it's still there on my charts

01[12:11] {&Threei}  the chart shape is no longer there

[12:11] {jdetente} it actually printed in two time frames lol

[12:11] {Will49} print was .109 so i stayed in....how's that for following the rule?

[12:11] {jdetente} well that broke .10 still :p

[12:12] {Will49} yes, true but trigger was .11 in my head :)

[12:13] {Will49} now i'm gone

[12:13] {Les} http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/10116331/Italian-showdown-with-Germany-over-euro-looms-closer.html

[12:16] {Will49} be back soon...going to do ablutions :)

[12:18] {stevw} arguably, there's an inverse h&s on GDX, but you don't want to admit it, do ya' Vad  (hehe)

[12:19] {Les} I can see its head, but that left shoulder looks more like an anus :)

[12:20] {nemo} HES coiling for a long methinks

[12:20] {Les} watching for potential TZA db setup at .85

[12:20] {Les} ahhh funny bone is back

[12:20] {RonS} hot

[12:21] {backman} long TZA .96

[12:24] {backman} out -.05

[12:28] {dino} .

[12:28] {Les} long tza .96 holding .85

[12:29] {nemo} careful for IWM bounce at pivot, and you need ths short term trend line break

[12:29] {Les} depends what I die of

[12:29] {Les} in the end its just physical

[12:31] {nemo} Les, when I come visit I'll chop off your limbs starting with your toes one joint at a time...it's just physical

[12:33] {Les} oops wrong blog space

[12:34] {nemo} yeah, you must be looking for that blog for the mentally disabled

[12:35] {Les} grind grind frikin grind

[12:35] {dptl} lol

[12:35] {dptl} let me get popcorn...lol

[12:35] {nemo} iwm at resistance, spy almost htere, fas backside test of channel support

[12:38] {+cc_9} 12:03 cc_9 SPY 162.75 first wall

[12:38] {+cc_9} lets see, we're right there

[12:39] {nemo} figures, spy bounced right at the 50 sma

[12:42] {nemo} spy at resistance, fas at backside test of trendline, IWM at QR3, 

[12:44] {+cc_9} crushes the wall since everyone is betting on it lol

[12:49] {+cc_9} volume dry as a yoko ono

[12:49] {nemo} huh?

[12:50] {nemo} hey 9, that creates alot of unpleasant visuals

[12:50] {+cc_9} blame Will

[12:50] {+cc_9} his idea

[12:51] {+cc_9} CTRL + F : ono

[12:51] {nemo} ach du lieber Gott!!

[12:52] {nemo} rht potential short...in the hole though, rather see a pull back to .20ish or .50ish

[12:52] {+cc_9} SPY needs a breather to at least 162.50 but hanging in there, next wall 163 flat

[12:59] {+cc_9} through it like butter

[13:00] {nemo} looks like it wants to recover all of yesterday

[13:01] {nemo} 163.50 is Monthly pivot, 163.80ish is weekly

[13:01] {+cc_9} people think its over-extended, but they are not looking at the daily

[13:01] {+cc_9} only @ short term frames

[13:01] {+cc_9} it can snap to 164 and still not even fully recover

[13:02] {+cc_9} tomorrow is expiration, many are bearish, thats the idea

[13:02] {nemo} getting prices back up for more distribution

[13:02] {Les} solid bounce and DB off 1600 S&P futures

01[13:03] {&Threei}  (ID) Magnitude 6.7 earthquake strikes 170km ENE of Flying Fish Cove, Christmas Island

[13:04] {+cc_9} Obama's war on christmas is getting too obvious

[13:04] {Les} that's in the middle of nowhere vad

[13:04] {nemo} very volcanic area

[13:04] {Les} well Indonesia is there

[13:04] {Les} but they don't count

[13:07] {Alexs} bby long .10?

01[13:08] {&Threei}  I doubt it...

[13:08] {+cc_9} BBY did nada all day while market moved

01[13:08] {&Threei}  yeah, jellyfish

[13:08] {Alexs} k

01[13:12] {&Threei} Short Setup: FB  .40 break

01[13:13] {&Threei}  If holds  .47 

[13:18] {Alexs} jellyfish BBY 1:1

[13:18] {+cc_9} in some SDS 40.20

01[13:19] {&Threei}  jellyfish with drive and determination :)

[13:19] {Alexs} lol

[13:19] {Les} yeh tza .66 here

[13:20] {+cc_9} careful Les, IWM stronger than S&P today

[13:21] {Les} k

[13:22] {ese} irm main lining at 29.00  will be going long just biding my time

[13:27] {+cc_9} needs a fade sub 162.80 SPY then we see some profit taking on this uptrend today

[13:28] {+cc_9} right now just slow grind, kinda boring

[13:33] {Alexs} jellyfish BBY 1:2

[13:34] {Les} half off .75 tza

01[13:34] {&Threei}  cc9... he will never let us live it down

[13:35] {Alexs} till FB make the same move

[13:35] {+cc_9} 4 cents, lets flush already, i have some SDS for sale

01[13:35] {&Threei}  to our excuse... BBY had news with MSFT

[13:36] {+cc_9} here we go

[13:37] {Les} get yer load er... off cc?

[13:38] {+cc_9} stacking them up

[13:38] {+cc_9} 28 29 30 31 etc...

[13:38] {+cc_9} so far unloaded 2 batches 26 and 27

[13:39] {+cc_9} i just need 32 and all gets flat

[13:39] {+cc_9} .32*

[13:41] {+cc_9} 28 & 29 taken

[13:41] {+cc_9} Les, my scalps are tiny, ~$0.10 on avg is what i look for, but i scale heavy

[13:42] {Les} sounds like principles similar to vads

[13:42] {Les} don't scale in though

[13:42] {Les} this pullback pretty lame

[13:42] {Les} market likes up apparently

[13:42] {Les} out on the scalp tza

[13:43] {Les} got dinner to serve brb

[13:43] {+cc_9} Les, these are principles I use for SSO / SDS

[13:44] {+cc_9} TNA / TZA I look for more

[13:44] {+cc_9} I rarely trade stocks, mostly ETFs

[13:44] {+cc_9} Once you sit through a halt and 50% gap, you start to like ETFs more

[13:44] {Will49} scaredy cat :)

[13:46] {+cc_9} I started this SSO/SDS strategy about 2 weeks ago, result here }}} http://img10.imageshack.us/img10/2072/tradese.jpg

[13:52] {Les} cc I am beating myself with a rod as I sit on TZA/TNA daily and learn to hold discipline until the appropriate setup. One day I'll wittle 9 errors to 1 good down to 1 for 1 good

[13:54] {+cc_9} Les, if you want my advice, get the technique down with SSO/SDS as they are a lot less volatile and only 1x 

[13:55] {+cc_9} Once you get the hang of it, move on to the leveraged ETFs

[13:56] {Alexs} what target do we have on FB?

01[13:57] {&Threei}  as a first target, want it to work

[13:57] {Will49} hahaha

[13:57] {Alexs} lol

01[13:58] {&Threei}  with .30 being somewhat of a support, if it breaks it... should give somemore, hard to tell

[13:58] {jdetente} working would be nice

01[13:58] {&Threei}  general market will determine

01[14:01] {&Threei}  someone take BBY from Alex's screen

01[14:03] {&Threei}  btw stev... remember our yesterday's exchange about this guy who did "new" study on the earthquake in BC?

01[14:04] {&Threei}  stumbled onto report about this on TV yesterday... you should see this busy and concerned look he wears running from room to room with pikle of paspers, looking at oscillographs

01[14:05] {&Threei}  urgency is written all over his forehead

[14:05] {Les} stop dissing experts Vad

01[14:05] {&Threei}  then voiceover talks about quake coming any moment within next 700 years

[14:05] {Les} what the heck would human beings do with their life if they couldn't be experts

[14:05] {Les} yeh same here in switzerland

[14:06] {Les} sooner or later... it's been 700 years, we should have one any century now

01[14:06] {&Threei}  I just want to suggest him to walk, not run...

[14:06] {Les} 2 mins. of fame

01[14:06] {&Threei}  new study my ass

01[14:07] {&Threei}  more like, grant expires

[14:07] {Will49} some people here think upgrading our schools is a waste of money

[14:07] {Les} absolutely Will

[14:07] {Les} why, I bet you used a board of slate in your day

01[14:07] {&Threei}  he talks about megathrust quake for crissakes

[14:07] {Les} and it did perfectly good

[14:07] {Will49} we are upgrading the public schools now

01[14:07] {&Threei}  if that one comes, whatever we upgrade or not will be demolished equally

[14:08] {dino} line drop

[14:08] {Les} seems to be the consumer fashion, end of times etc

[14:08] {Will49} les...we called them blackboards

01[14:08] {&Threei}  whole island might be swallowed as a matter of fact

[14:08] {Les} no, I meant a slate board, you know, like in Dickens' time

[14:09] {Les} How old r u will?

[14:09] {Les} ;)

01[14:09] {&Threei}  and don't gloat over there dp, your Vancouver will slide in the ocean just as well :)

[14:09] {Will49} put a spigot on my hot water heater so if big one hits and city water is gone, i'll have 40 gallons to go with my jack daniels

[14:10] {Will49} les...do you work for NSA?

[14:10] {dino} now thats planning

[14:10] {Will49} les....74

01[14:10] {&Threei}  OK FB... let's do it

[14:10] {Will49} but i look 73

[14:11] {Les} yeh, so you're old enough to have used a board of slate

01[14:11] {&Threei}  don't be so modest Will

[14:11] {Will49} no we actually had paper :)

01[14:11] {&Threei}  no way I'd give you more than 71

[14:11] {Les} paper?

[14:11] {Will49} thanks a lot Vad :(

[14:12] {Will49} one year is important at my age

01[14:12] {&Threei}  kidding.. you know you don't look a day over 65

[14:12] {Will49} now i feel better:)

[14:13] {dptl} to me after certain age everybody look the same

[14:13] {Will49} les...did use a slide rule at university

[14:13] {jdetente} anyone over 40 looks the same to me 

[14:13] {Will49} dp...you don't want to see me naked

[14:13] {dptl} lol

[14:13] {+cc_9} out of the blue pop on SPY

01[14:14] {&Threei}  neither do I for that matter

[14:14] {jdetente} lol

[14:14] {Will49} haha

[14:14] {Les} what the heck is a slide rule?

01[14:14] {&Threei}  nothing personal will, that goes for all male species :)

[14:15] {Will49} yeah

[14:15] {Les} my university was that bullshit liberal humanities crap

[14:15] {Les} not a slide rule to be seen

[14:15] {Will49} remember the constipated engineer?

[14:15] {Will49} he worked it out with a slide rule

[14:15] {dino} jd, how old are you if 40 looks the same

[14:15] {Les} ugh

[14:16] {jdetente} that was a joke Dino hehe. I'm 8 years to 40 myself

[14:16] {Will49} why didn't you do engeineering or something useful?

[14:16] {RonS} never knew they grew corn in Victoria Will...

[14:16] {Will49} or spelling:)

[14:16] {dino} you may be the youngster of the room

[14:17] {jdetente} I'm betting I am

01[14:17] {&Threei}  SPY sudden bout of happiness

01[14:17] {&Threei}  no news

[14:17] {Les} that used to be me jd

[14:17] {dptl} :) and its good

[14:17] {jdetente} I spent 11 years in the mortgage industry...that aged me quickly lol

[14:18] {dino} lol, i spent 15 in the insurance industry, i understand

01[14:18] {&Threei}  I spent 35 in USSR. You both have nothing on me

[14:18] {jdetente} yeah pretty much the same deal

[14:18] {jdetente} @ Dino

[14:18] {dptl} lol Vad

[14:18] {jdetente} you have us all beat Vad

[14:18] {dino} you've got us beat vad

01[14:18] {&Threei}  :)

[14:19] {jdetente} FB was poised to die...too bad

01[14:19] {&Threei}  sigh

[14:19] {jdetente} up and down 

[14:20] {jdetente} wheel keeps turning round and round

[14:20] {Will49} in and out

[14:20] {Alexs} yeah jellyfish FB woke up

[14:20] {jdetente} let's keep it PC Will

[14:21] {Will49} :)

[14:22] {Will49} watch it jd...respect your elders:)

[14:22] {jdetente} sir, yes sir

[14:23] {Will49} i have a grandson your age

[14:24] {Will49} and....get off my lawn!

01[14:24] {&Threei}  lol

[14:24] {Les} I dunno Vad

[14:24] {Les} Married with kids beats Soviet Union IMO

[14:24] {jdetente} haha

[14:24] {Les} I have my own personal dictator

01[14:25] {&Threei}  excuse me... married with kids in my case came on top of USSR... got anything else?

[14:25] {Will49} happy personal dictator...happy life

01[14:25] {&Threei}  lol

[14:25] {jdetente} Vad wins again

[14:25] {Will49} who made you da judge?

[14:26] {jdetente} our benevolent dictator

[14:26] {dptl} Les Les......boy, you have no idea...:)

01[14:26] {&Threei}  as long as he rules in my favor, will... :)

[14:26] {nemo} definitely not talking about me

[14:26] {jdetente} malevolent would be nemo

[14:26] {Will49} you even buy the judges here eh Vad?

[14:26] {nemo} spy back to monthly pivot

[14:27] {Les} we take it for granted that you r a tyrant Nemo

[14:27] {nemo} I'm hardly a tyrant

[14:27] {Les} started calling you Nero behind yer back

[14:28] {backman} sold 49 shares of 100 lot order.....gimme a break

[14:28] {jdetente} ??

[14:28] {Les} SSO vol. dump

[14:28] {nemo} don't play violin either

[14:29] {Les} :)

01[14:29] {&Threei} Long Setup:  TZA  .30 break

01[14:29] {&Threei}  If holds  .20 

[14:29] {Alexs} triggered alraedy?

01[14:30] {&Threei}  no

01[14:34] {&Threei}  ok SPY... how about making it neat cute double top

01[14:34] {&Threei}  and dropping to about, say 163?

[14:34] {nemo} just like a lady lying on her back at the beach

[14:34] {Les} cute

[14:35] {dptl} no no wait ..i am still long...:)

01[14:35] {&Threei}  long what?

[14:35] {dptl} amm...MAR ...from .77

01[14:36] {&Threei}  f*** it, you already had your profits

01[14:36] {&Threei}  our turn now

[14:36] {dptl} lol

[14:36] {ese} lol

[14:36] {Will49} spoken like a true despot

[14:36] {ese} alright i'm outta here IRM ain't doin nothin today....cay tomorrow

[14:37] {Will49} peace ese

01[14:37] {&Threei}  take care ese

[14:37] {ese} tks will

[14:37] {ese} vad

[14:41] {Les} 40 break SDS .90 stop looks good

[14:42] {Les} big vol. dump on GDX at vwap resistance here .15

01[14:47] {&Threei}  TZA... add some fire, will ya?

01[14:48] {&Threei}  before anyone asks about target... my idea of SPY dropping to about 163 gives us 1:3 in TZA terms

01[14:48] {&Threei}  1:1

[14:48] {jdetente} there it is

[14:49] {RonS} dino kors gone pulp...

[14:49] {nemo} the MA spy has been obeying today is at .15

[14:53] {dino} hmm

[14:55] {dino} kors sm l .51

01[14:57] {&Threei}  sigh

01[14:57] {&Threei}  just a scalp

01[14:58] {&Threei}  another pearl from nemo's comrade: http://www.humormeetscomics.com/wp-content/uploads/2013/05/hate2.gif

[15:00] {dino} hod

[15:02] {dino} bee spike

[15:02] {+cc_9} major snap back on SPY

[15:03] {nemo} wow....amazing observation

[15:03] {nemo} sorry, not really

[15:03] {nemo} it's getting bad...you're not even Les

[15:05] {nemo} as a quasi-non-sequitur, any "Downton Abbey" watchers out there?

[15:05] {Les} take yer meds Nemo

[15:06] {Will49} sorry nemo, made a promise never to admit it

[15:06] {nemo} oh, o.k.

[15:06] {nemo} do you recognize Lord Grantham?

[15:07] {RonS} bee

01[15:07] {&Threei}  BEE Said to have hired an advisor to explore potential sale of the company

[15:07] {nemo} weekly pivots seem to be the target on spy iwm and fas

[15:07] {Will49} that's a trick question

[15:07] {dino} ty ron, out kors .91, +.40

01[15:07] {&Threei}  AIG

01[15:07] {&Threei}  wathing for reversal

[15:08] {nemo} wish I were here this morning, all you had to do was buy the 50 day on the SPY

[15:08] {+cc_9} called here this AM, market goes up ahead of opex tomorrow.

[15:08] {dino} c took all day, stop to .90

[15:08] {nemo} bounce at the 50 had your back too

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

01[15:10] {&Threei}  If holds  .65 

[15:11] {dino} out c .00, +.50

[15:11] {Les} placed an order for series 1 of Downtown Abbey Nemo been meaning to see it

01[15:11] {&Threei}  wtg

[15:11] {Les} found it for a buck

[15:11] {Les} 2nd hand

01[15:11] {&Threei}  Invalidated  

[15:12] {nemo} it's on netflix, and the other seasons are on Amazon...if you have amazon prime you can watch it for free

[15:12] {nemo} although, amzn hasn't got streaming video down yet

[15:12] {Les} need subtitles for the missus. and download services are pretty limited in Europe

[15:13] {Les} we don't television installed so...

[15:13] {Les} AIG might find ressitance here

[15:13] {nemo} I watch it on one of my monitors

01[15:14] {&Threei} Short Setup: AIG  .70 break

[15:14] {Les} been a while since found good series drama

01[15:14] {&Threei}  If holds  .75 

[15:14] {nemo} this is incredible

01[15:15] {&Threei}  Invalidated  

[15:18] {nemo} clould argue index shorts here with stops above the high

[15:18] {nemo} scalps until proven otherwise

01[15:19] {&Threei}  valid again

01[15:19] {&Threei}  stop .80 of course

[15:19] {nemo} 163.40 spy 98.05 iwm 65.30 fas possible targets

[15:20] {nemo} volume ain't convincing though

[15:20] {dino} mygn drop

[15:23] {nemo} of course, do they want to bust stops above 164

[15:23] {nemo} same with 66 on fas

01[15:24] {&Threei}  annoying

[15:24] {nemo} Les?

[15:24] {Les} probably

[15:24] {+cc_9} I am thinking major EOD rape

[15:24] {+cc_9} market not letting go, at all

[15:24] {nemo} ever see "Blazing Saddles"?

[15:25] {nemo} the interviews for the gang?

[15:26] {Les} someone reply yes so he shuts up

[15:27] {nemo} I've got nothing else to add to that inquiry

[15:27] {nemo} Les...was "One Flew over the Cuckoo's Nest" one of your favorite movies?

[15:27] {Les} sure

[15:27] {nemo} thought so

[15:28] {Les} me like lobotomy

[15:28] {Will49} heeeeeers les!

[15:28] {nemo} that was "The Shining"

[15:28] {Les} uh wrong

[15:28] {Will49} oh yeah

[15:28] {+cc_9} next move on the 164 tag is critical for EOD

[15:28] {+cc_9} profit taking or more rampage into tomorrow's opex

[15:29] {nemo} gap fill above?

[15:29] {+cc_9} question I am willing not to put my money on to find out

[15:29] {Les} Yoda fan I see you are cc

[15:29] {dino} lol

01[15:29] {&Threei}  die market here must

[15:30] {RonS} lol

06[15:30] * Les smacks Vad with daily copywrite on Yoda

[15:30] {nemo} yeah, you separated the object of the preposition

[15:30] {RonS} lol

[15:30] {Les} SDS in a sweet spot if it reverses here

01[15:30] {&Threei}  I spoke Yoda before Yoda spoke Yoda

[15:30] {Will49} lol

[15:30] {Les} oh write, vad english

[15:31] {nemo} Vad, you were a teenager then

[15:31] {Will49} Yodka too eh vad?

01[15:31] {&Threei}  lol

[15:31] {nemo} amazing, IWM basically recovered everything

[15:31] {nemo} they all did

[15:32] {Alexs} jpm long .05?

[15:32] {nemo} no longs..imo

[15:32] {Les} look at Nekkei and sP futures perfect DB's

[15:33] {nemo} after this run, the likelihood is the other way

01[15:33] {&Threei}  yeah, at this point it's a closing short or sit it out

01[15:33] {&Threei}  JPM is 54 short if anything

01[15:33] {&Threei}  off double top at 54.10

[15:35] {+cc_9} lol @ headfake

[15:35] {+cc_9} fade takes 5 candles, bounce takes half a candle and 10 seconds

[15:35] {nemo} yeah, this is amazing

[15:36] {+cc_9} about to tag shorts at 164

[15:36] {+cc_9} brutal

[15:36] {nemo} BOHICA!!!!

01[15:36] {&Threei}  ursine sodomy?

[15:36] {Les} surprise surprise 15 min MACD ready to roll over in the morning

[15:36] {Will49} lol

[15:36] {nemo} such productive additions I've made to the blog's vocabulary

01[15:37] {&Threei}  we appreciate the contribution

[15:37] {nemo} this is set up for the classic bid pull

[15:37] {nemo} frankly, don't want to be in anything here

[15:38] {+cc_9} triple top on 1min SPY, volume picking up

[15:38] {+cc_9} breakout to 164 and more short covering

[15:39] {jdetente} this is a time to watch

[15:39] {jdetente} and watch only

01[15:39] {&Threei}  now sharp drop to trap new buyers would be nice

[15:39] {nemo} those are big boy bars on the spy

[15:40] {nemo} iwm is above yesterday's high

01[15:40] {&Threei}  really hate these clow climb days

[15:40] {jdetente} slow climbs even

01[15:41] {&Threei}  yeah, that

[15:41] {backman} GDX having a strong finish

01[15:41] {&Threei}  (US) WSJ's Hilsenrath: Fed is likely to push back against market expectations for a rate increase

01[15:41] {&Threei}  this propped this last push

[15:41] {+cc_9} i dont think we see any sharp drop Vad

[15:41] {+cc_9} the rape train goes only 1 way 

[15:42] {Alexs} JPM 1:1

[15:42] {nemo} God bless ya' Alex, but the probabilities were against you

[15:42] {jdetente} all aboard

[15:42] {jdetente} the train is boarding

[15:42] {+cc_9} slow grind slow grind, force people to slowly cover, then move the rape to over-drive

[15:42] {+cc_9} and force even faster shorting

[15:43] {nemo} we likely close that gap up around 165 tomorrow

[15:43] {+cc_9} why not today nemo

[15:43] {+cc_9} 15mins is a long time

[15:43] {Alexs} I didn't get it :)

[15:44] {+cc_9} not a single pullback on this last run

[15:44] {+cc_9} look @ volume last 15mins

[15:44] {nemo} yeah, that's amazing

[15:45] {+cc_9} no fade, no pullback, no breathing window if ur short

[15:45] {+cc_9} just lube

[15:46] {+cc_9} finally when you give up, throw the towel, then it fades

[15:46] {Les} not sure they're even offering lube

[15:46] {nemo} sand paper

[15:46] {Les} Sell in May just got screwed

[15:46] {nemo} sheesh, they're going for the gap fill today?!!!

[15:47] {+cc_9} no letting go nemo

[15:47] {+cc_9} max pain for opex tomorrow

01[15:47] {&Threei}  sell in may is pure unadulterated bs

[15:47] {+cc_9} that was the trick since pre-market

[15:47] {nemo} iwm has closed the gap

[15:47] {nemo} wow

[15:48] {+cc_9} if there is even a slight fade, it will be for a few cents

[15:48] {+cc_9} to give people false hope, then rape train goes in turbo mode

[15:48] {nemo} you like that word

[15:48] {+cc_9} its a long story...

[15:48] {Les} wondering why cc lives outside US jurisdiction

[15:49] {Will49} read all about you in an NSA leaked doc

[15:50] {+cc_9} any little fade, bounces right back

[15:50] {+cc_9} and the funny thing, is it won't take much volume to snap it back to highs

[15:50] {+cc_9} absolutely disgusting

[15:50] {nemo} no shorts in this area

[15:51] {+cc_9} only thing going on tomorrow is PPI

[15:52] {Will49} ?

[15:52] {+cc_9} Producer Price Index 8:30 AM ET

[15:52] {Will49} tks

[15:52] {+cc_9} Producer Price Index : PPI

[15:53] {+cc_9} http://www.bloomberg.com/markets/economic-calendar/

[15:53] {+cc_9} comes in handy

[15:53] {Will49} i wouldn't know what to do with the news anyway:)

[15:53] {dino} buy the dips. i've been saying it for weeks

[15:54] {Will49} have to wait for the gulag supervisor to tell me

[15:54] {nemo} yeah, wish I were here this morning, that SPY 50 day was a slam dunk

[15:54] {+cc_9} algo in full force on that last candle

[15:55] {+cc_9} 1.6M printed on 30 seconds

[15:56] {Les} nighty night

[15:56] {+cc_9} later folks

[15:56] {Will49} thanks for the entertainment, guys...see you tomorrow

[15:56] {Les} see how this finishes tomorrow

01[15:56] {&Threei}  thank you all, have a good evening

01[15:56] {&Threei}  see you tomorrow

[15:56] {stevw} have a good night all

[15:57] {dino} gn all, thx for ideas, good day