June 19 2013

FOMC days are notoriously difficult to trade, right? Well, that puts that special shine on our today's 100% performance with 5 wins out of 5 triggered trades. 3 1:2ers, 3 trades on GDX and 2 on GLD. Can't complain.

Session Time: Wed Jun 19 00:00:00 2013
[08:53] {+cc_9} Good morning folks / Vad
[08:57] {_jackindbox} good morning all
01[08:58] {&Threei}  morning guys
[09:05] {+cc_9} Bullish GDX here Vad for a scalp ?
[09:05] {+cc_9} little reversal, maybe 27.70ish
01[09:05] {&Threei}  pre-market?
[09:05] {+cc_9} at open
[09:05] {+cc_9} gold opening slightly higher from its close
01[09:06] {&Threei}  providing setup is the same as now...
[09:06] {+cc_9} Gold miners as well (ABX GG NEM)
[09:06] {+cc_9} Big action after 2PM of course, but I am thinking a little reversal on the miners in the AM. too big a drop
01[09:06] {&Threei}  bounce is quite weak though, if you consider yesterday's carnage
[09:07] {+cc_9} Yup, thats why I'm thinking max 27.70 which is only ~$0.20 from potential open pps
[09:07] {+cc_9} dead cat bounce only is what I'm looking for
[09:08] {+cc_9} GDX / SPY both opening flat
[09:09] {dino} gm
01[09:09] {&Threei}  dino :)
[09:09] {jdetente} good morning
[09:10] {stevw} g'mornin fellas
[09:10] {backman} gm
01[09:10] {&Threei}  jd, stev, bman :)
[09:15] {ese} morning......miracles of miracles....i might actually get some trading in today
01[09:15] {&Threei}  ese :)
[09:16] {dptl} gm
01[09:16] {&Threei}  look dcc while on it
[09:16] {RonS} Hello everyone
01[09:16] {&Threei}  dp :)
01[09:16] {&Threei}  Ron :)
[09:16] {ese} ddddddddddddddppppppppppppppppppp!!!!!!!!!!!!!
[09:17] {dptl} lol.... hey Ese
[09:17] {bbobr} gm
01[09:18] {&Threei}  bbobr :)
[09:18] {cipher} gm
[09:18] {Will49} gm
01[09:19] {&Threei}  cipher, will :)
01[09:19] {&Threei}  will, dcc pls
[09:21] {dptl} fed today?
01[09:21] {&Threei}  yes, 2 o'clock
[09:21] {robbers} Yeah, dp, press conference in the early afternoon.
01[09:21] {&Threei}  then Ben's press-conference 2:30
[09:22] {ese} I was diciplined on the dcc will .....your next
01[09:22] {&Threei}  and dp
[09:22] {Will49} got mine already
[09:22] {ese} i thought we were behaving.....
[09:22] {+cc_9} Going long GDX @ open for a quick bounce to 27.70s
[09:23] {ese} dp's really in for it......he's worse than you and I
[09:23] {Will49} oh gawd....how could that be?
01[09:24] {&Threei}  he drinks vodka, you - beer
[09:24] {Alexs} gm
[09:24] {ese} easy................he drinks vodka out of glass carbon copy AK47's
01[09:24] {&Threei}  alex :)
[09:24] {Will49} lol
01[09:32] {&Threei} Long Setup:  GDX  .50 break
01[09:34] {&Threei}  change to .45 break
01[09:34] {&Threei}  If holds  .40
01[09:34] {&Threei}  aggressive entry, need .50 break now for a good , ummm... iksplozhion
01[09:34] {&Threei}  yupm, that's the word
01[09:36] {&Threei}  1:1
[09:36] {backman} dang, no buying power
01[09:37] {&Threei}  quite meek iksplozhion
01[09:38] {&Threei}  if after yesterday's carnage that's all it's capable of...
[09:38] {jdetente} a short setup will appear
[09:38] {RonS} took gdx +.12 thanks 3i
01[09:38] {&Threei}  yw
01[09:38] {&Threei}  that's my thinking jd
01[09:39] {&Threei}  well... as much as word thinking ccan be applied to this process of mine
[09:39] {jdetente} GDX will twist in the wind hehe
[09:40] {jdetente} but let;s get 1:2 first
[09:40] {Will49} sheeesh...no bp on DAS
01[09:40] {&Threei}  1:2
[09:40] {robbers} Out, thanks.
[09:40] {jdetente} all done. Thanks Vad
[09:40] {+cc_9} GDX weeeeeeeeeeee
01[09:40] {&Threei}  :)
[09:42] {robbers} Hmmmm, Les and Nemo not here, could they be in a steel cage match?
[09:42] {jdetente} brunch date
[09:42] {robbers} LOL.
01[09:42] {&Threei}  with tbell being a referree?
[09:42] {backman} watching TZA
[09:42] {Alexs} good start ty Vad
01[09:42] {&Threei}  :)
[09:42] {dino} trox sm l .15
[09:43] {ese} L mw .82
[09:43] {ese} whoa....got in
[09:44] {+cc_9} u guys want to see some shit ?
[09:44] {+cc_9} Who wants to see some shit
[09:44] {+cc_9} i need to see some hands up
[09:44] {ese} !!!!
[09:44] {robbers} Me, but make it good shit.\
[09:44] {ese} ya.....eh....make it good
[09:45] {dptl} all the good shit here in BC  lol
[09:45] {ese} lol
[09:45] {ese} no it ain't
[09:45] {jdetente} some sort of hydroponic
[09:45] {jdetente} hehe
01[09:46] {&Threei}  and these people call themselves sane
[09:46] {jdetente} who said that??
[09:46] {dptl} lol
01[09:46] {&Threei}  wait... no one made that claim... I stand corrected
[09:46] {jdetente} to be involved in this...errr...trade
[09:46] {jdetente} requires a bit of insanity :)
[09:47] {ese} L some more mw avg .75
01[09:48] {&Threei} Short Setup: GDX  .60 break
[09:48] {dptl} lol Vad...i am still long some
01[09:48] {&Threei}  trying for double top
01[09:49] {&Threei}  so what, hold it, sell if it triggers okn a short side and flip
[09:49] {stevw} GLD bumping up
01[09:49] {&Threei}  if it breaks .70 it will invalidate short and take you to 1:3
[09:50] {dptl} sounds good ....ok
[09:50] {stevw} good expression of this being about price action, not prediction
[09:50] {RonS} @herbgreenberg: It's not everyday you see a co put out a press release saying that it has "terminated" its exec chairman/founder." $MW
[09:50] {ese} WHERES cc?
[09:50] {ese} wheres the stuff were suppose to be lookin at?
01[09:50] {&Threei}  true stev... ours is a church of opinionless trading
[09:51] {+cc_9} Ok im here (click) }}} http://img96.imageshack.us/img96/5131/u5yv.jpg
[09:52] {+cc_9} :D
01[09:52] {&Threei}  "I say damn... this IS a good shit"
[09:52] {jdetente} nice CC
[09:52] {+cc_9} hehe
01[09:53] {&Threei}  who remembers the source of quote? :)
[09:53] {+cc_9} I think I'm calling it a day ?
01[09:53] {&Threei}  isd it overnight hold, cc?
[09:53] {nemo} must be the Jeff Bridges movie
[09:53] {nemo} The Dude
01[09:53] {&Threei}  noope
[09:53] {+cc_9} u guys want to see even better shit ?
[09:53] {+cc_9} 09:26 cc_9 Going long GDX @ open for a quick bounce to 27.70s
[09:53] {jdetente} I know that qupte, can't place it though...
01[09:54] {&Threei}  Pulp Fiction... Mia in the bathroom before the dance
[09:54] {jdetente} ahhh yes
[09:54] {+cc_9} look @ time stamp, look @ GDX HOD vs my expected price.
[09:54] {+cc_9} :D
[09:54] {Alexs} what stop GDX?
01[09:54] {&Threei}  .70 for now
01[09:54] {&Threei}  will trail with any new low
[09:54] {ese} out mw .20 +.45
[09:55] {ese} cool beans it took it.....hmmm
[09:55] {dino} mw sm s .09
[09:55] {Will49} nice ese
[09:55] {ese} you see those prints at .20 dino
01[09:56] {&Threei}  trail to .66 now
[09:56] {ese} things bouncing around like a rabit.....talk about bs luck
[09:57] {ese} tks will
01[09:57] {&Threei}  1:1
01[09:57] {&Threei}  opinionless trading wins
01[09:57] {&Threei}  (again)
[09:57] {robbers} Out, thanks.
[09:58] {Alexs} nice Vad
01[09:58] {&Threei}  robbers doesn't fool around, lol
[09:58] {robbers} Next!
[10:00] {dptl} oh nice...missed short, got distracted  with my mechanic
01[10:00] {&Threei}  mechanic?
[10:00] {dptl} car issues
01[10:00] {&Threei}  1:2
01[10:00] {&Threei}  like a fiddle
[10:01] {Will49} out tks Vad
[10:01] {+cc_9} GDX top nailed (27.70)
01[10:01] {&Threei}  man... dp... mechanic distracts you at 7 am - this is NOT about a car! {GGG}
[10:02] {dptl} well..he comes to my place to fix damn thing
01[10:02] {&Threei}  lord, give me strength to shut up
[10:02] {dptl} lol
[10:02] {backman} wish my ex had that skill set
[10:03] {dino} mw to .75 bstop
[10:03] {Will49} lol bman
01[10:03] {&Threei}  I may not stop giggling till Ben's press conference
[10:03] {dino} ty idea ese, cov mw .59, +.50
[10:04] {ese} no probs eh!
[10:04] {ese} nice one
[10:04] {dino} trox to .38
[10:04] {RonS} gj dino...G Zimmer:  I'm getting a big payout...I guarantee it!...
[10:04] {dino} lol
[10:04] {jdetente} ha
[10:05] {dino} trox to .45
[10:05] {RonS} took trox .15 to .55 thanks dino  +.40
[10:06] {dino} trox to .55
[10:06] {dino} wtg ron-zo
[10:07] {dino} out trox .55, +.40
01[10:07] {&Threei}  killing it this morning guy, great job
[10:07] {dino} or is it ron-so
01[10:07] {&Threei}  guys
[10:07] {dino} just lucky
[10:07] {ese} L line .05  phuuuuuuuuuuuuuuuuuuuutssssssssssstttttttt  ahhhhhhhhhhhhhh
[10:09] {dptl} SCHW .40 short?
01[10:10] {&Threei}  with .45 stop
[10:10] {dptl} yes
01[10:11] {&Threei}  yeah, don't count on mush probably though
01[10:11] {&Threei}  much
[10:12] {Will49} tks Vad
[10:12] {_jackindbox} is stop of .66 for GDX still in place? or did we trail lower?
[10:13] {jdetente} trail changed to .51 once .40 was reached.
01[10:13] {&Threei}  GDX hit 1:2, thus second partial was taken and stop has been moved to .51
[10:13] {_jackindbox} ok, that's what I did and got stopped out at .51. thanks.
01[10:13] {&Threei}  please make sure to read this piece:
01[10:14] {&Threei}  http://www.realitytrader.com/tradingroom/#instructions
01[10:14] {&Threei}  ah, OK
01[10:14] {&Threei}  then you followed the procedure to the T
01[10:14] {&Threei}  WLT Hearing renewed takeover chatter circulating
[10:14] {_jackindbox} thanks
01[10:15] {&Threei}  LNKD Strength attributed to tech blogs reporting that LinkedIn could get tighter integration into Apple iOS, similar to Facebook and Twitter
[10:15] {RonS} now you know why people are interested in zombies...wlt...
01[10:15] {&Threei}  lol
[10:15] {dino} mfri spikey
01[10:16] {&Threei}  but I still need to understand why people are interested in Linkedin
01[10:16] {&Threei}  the most useless of them all as far as I am concerned
[10:16] {RonS} MFRI Announces Over $30 Million in New Major Orders in the Second Quarter by Its Piping Systems Segment
[10:16] {dino} wlt takeover chatter about a year ago around 70s
[10:16] {ese} have never been on any of the social sites....and don't ever plan to be
[10:17] {dino} nor i ese
[10:17] {dino} thx ron, saw that
[10:17] {jdetente} me three
[10:17] {Will49} amen
[10:17] {RonS} Company has received $55 million in new global orders, of which $25 million was reported in the first quarter backlog.
[10:17] {jdetente} no Facebook, Twitter, etc
[10:17] {ese} total useless waste of time.....not to mention I need people to know what kind of underware i use like i need a hole in the head
[10:17] {robbers} I'm a member in good standing of the asocial media.
[10:17] {jdetente} lol
[10:18] {Will49} waht kind of underware do you like, big guy?
[10:18] {jdetente} don't say tiger stripes
[10:18] {ese} well......let me tell ya........
[10:18] {dino} prints?
[10:18] {ese} lol
01[10:19] {&Threei}  snowflakes?
01[10:19] {&Threei}  polka dots?
[10:19] {dino} exit only?
[10:19] {ese} rotflol
01[10:19] {&Threei}  that, and dp with his mechanic... this morning is too productive
[10:20] {ese} your sick all a ya!!!!!! sick i tell ya
[10:20] {jdetente} we're wild and crazy guys
[10:20] {dptl} lol
[10:26] {ese} out line .22 +.17
[10:26] {ese} good enough
[10:26] {dino} mw sm s .15
[10:27] {dino} gj eseeeeee
[10:27] {ese} tks
[10:28] {ese} it's for booze at vads get together this Sat
[10:29] {dino} perhaps someday i will make that trip
01[10:30] {&Threei}  (CY) Cyprus Govt official responds to reports Cyprus was seeking a different bailout, notes that Cyprus is fully committed to applying the terms of the previouls EU/IMF bailout- Not attempting to renegotiate the bailout agreement - Reminder: Earlier European officials noted there was to be no new bailout terms for Cyprus
[10:32] {dino} me thinks they protest too much
[10:34] {dino} lzb lod
[10:35] {dptl} what about CTL .85 short?
01[10:35] {&Threei}  NYSE volume 110M shares, about 27% below its three-month average; - NASDAQ volume 335M shares, about 13% below its three-month average
01[10:37] {&Threei}  don't know... action slowed to a crawl
[10:37] {dino} bstop on mw to .89
[10:37] {dptl} ok
[10:37] {dino} to .85
[10:38] {dino} to .81
[10:40] {dino} to .77
[10:41] {dino} to .75
[10:41] {dino} to .65
[10:42] {dino} cov mw .55, +.60
01[10:42] {&Threei}  wtg
01[10:42] {&Threei}  nice choking
[10:42] {Will49} nice gap
[10:43] {dino} ty
[10:50] {dino} scanners slowing down
[10:51] {backman} C break of .80 was bullish yesterday...FWIW
[10:54] {RonS} FBI: Search in Michigan field for remains of Jimmy Hoffa is done; no remains found...now we can get back to spying on live citizens...
[10:54] {Will49} haha
[10:55] {backman} out .-03
[11:01] {dino} how much $ will we spend searching for jimmy
01[11:02] {&Threei}  and why
01[11:02] {&Threei}  who needs to find him?
[11:02] {dino} exactly
[11:03] {dino} its like a make-work jobs program. i'd rather these agents picked trash along the highways
[11:14] {RonS} BREAKING: Swiss parliament rejects U.S. bank account deal in final vote
[11:15] {RonS} credits Les Nesman with sage counsel...
01[11:15] {&Threei}  Swiss Banks could now face more indictments in the US
01[11:17] {&Threei}  markets are again more or less unchanged this morning ahead of the Fed decision. Many market participants are watching for another selloff in emerging-market currencies no matter what the Fed does. As of writing the DJIA is down 0.12%, the S&P500 is flat and the Nasdaq is down 0.1%.
[11:18] {+cc_9} ok back
[11:18] {+cc_9} did I miss anything ?
[11:19] {nemo} just the usual FED day excitement
[11:24] {dino} vips lod
[11:26] {_jackindbox} long CAT at some point?
01[11:26] {&Threei}  watching for possible setup
01[11:33] {&Threei}  doesn't feel right
[11:39] {dino} markets stalling
[11:45] {backman} GDX have another low in it?
[11:45] {ese} l srpt .89
01[11:45] {&Threei}  can't tell
[11:57] {dino} platinum taking hit
[11:57] {dino} pplt
[11:57] {nemo} gdx just dribbling away
[11:58] {nemo} Hey! anybody remember this line  "....dripping like a Good Humor Bar in the sun!"
[12:01] {dino} remember good humor bars, but not the line
[12:03] {nemo} iwm could bounce right here, I just don't know where to
[12:04] {nemo} got big boy volume at 12 in spy
[12:05] {nemo} guess nobody remembers, it was a long time ago...not in Will years though
[12:07] {Will49} :) I remember them well
[12:07] {nemo} wow...I don't
[12:07] {nemo} it's just a purple haze
[12:07] {Will49} drugs
[12:07] {dino} ok jimmy
[12:08] {nemo} jimmie
[12:08] {nemo} here's a TUF for you
[12:08] {dino} if he spelled it right he might still be alive
[12:08] {Will49} haha
[12:08] {nemo} Jimmie was going to start playing with Emerson, Lake, and Palmer
[12:08] {Will49} what?
[12:08] {nemo} he died about a month before
[12:08] {nemo} true story
[12:08] {Will49} good thing
[12:09] {jdetente} that would've been a weird combo
[12:09] {Will49} no kiddin
[12:09] {dino} yeah, can't see/hear that combo
[12:09] {jdetente} what a lucky man he was
[12:10] {nemo} well, the record company was forcing him to play with "Experience" and he was getting sick of it
[12:10] {nemo} he wanted to do more fusion stuff
[12:11] {nemo} yeah, instead of ELP it would have been HELP
[12:11] {jdetente} Don’t know why he wouldn;t want to play with Mitch Mitchell
[12:11] {jdetente} he was a great drummer
[12:11] {jdetente} continue to play that is
[12:11] {nemo} yeah, but Palmer was as good as there was
[12:11] {jdetente} personally prefer Mitchell’s style...
[12:12] {nemo} bfd..
[12:12] {jdetente} that prog stuff could be a bit overblown
[12:12] {nemo} oh yeah
[12:12] {jdetente} although I went through that phase as a teenager
[12:12] {nemo} my fave is still Peart
[12:12] {jdetente} yeah I was a big Rush fan too
[12:12] {jdetente} still go back to it every once in a while
01[12:13] {&Threei}  GDX was still good for a short
[12:13] {dino}  me too w/rush
[12:14] {nemo} I don't listen to their oldest stuff so much, but from Hemispheres on
[12:14] {jdetente} I played with a drummer whose hero was a Peart...he’s set was almost as big minus the bells and gong
[12:14] {jdetente} *his set
[12:14] {nemo} although no self-respecting RUSH fan should be without 2112 and  A Farewell to Kings
[12:15] {dino} indeed
[12:15] {nemo} Yeah, buddy of mine was in a band with this drummer who reminded me of Peart
[12:15] {nemo} One day I'm over the drummer's house and downstairs behind his kit is a big poster of Peart...duh
[12:15] {nemo} Peart's got some neat stuff out on Youtube
[12:18] {nemo} actually, we'll need to consult ese on drummers
01[12:26] {&Threei}  I just realized:
01[12:26] {&Threei}  ese, will and dp are not on facebook... you know what that means?
[12:27] {nemo} nirvana?
01[12:27] {&Threei}  you are not getting real time photos from this saturday shishkebab!
[12:27] {RonS} the world has hope?
[12:27] {nemo} fuck hope
01[12:27] {&Threei}  {Hope} huh?
[12:27] {nemo} oops...janitor
[12:29] {dino} lol
[12:29] {RonS} Nemo is jonesing for a Les smackdown fix...
[12:29] {nemo} nah, not really...I just automatically react to his inanity
[12:29] {nemo} I'm in zen with his statements
01[12:29] {&Threei}  here is the best report from the next sat you may get: http://www.realitytrader.com/vad/Shishkebab11.jpg
[12:31] {backman} short FCX .86...tight stop
[12:31] {nemo} boredom play
01[12:33] {&Threei}  really stalled market... when was the last time I had just two trades in the whole morning??
[12:34] {nemo} last Fed day?
[12:34] {dino} only 3 here
[12:34] {nemo} or last Fed day last summer?
[12:46] {jdetente} VXX dropping
[12:46] {+cc_9} i was about to say that
[12:46] {+cc_9} yet market staying flat
[12:47] {nemo} vxx dropping....interesting, rally after Bennie or is that setting us up for a drop
[12:47] {jdetente} feels like the latter to me
[12:47] {nemo} if vxx is misdirection
[12:47] {nemo} nobody buying insurance going into bennie
[12:47] {nemo} and the iwm is going up
01[12:50] {&Threei}  MS.IT Italy court rejects the challenge from former Italy PM Berlusconi regarding the conviction for tax fraud, appeal to move forward
[12:51] {Will49} bunga bunga
[12:57] {dino} .
[12:57] {Les} like that is it dino?
[12:57] {Les} evening
[12:57] {dino} power outage
[12:57] {Les} storms?
[12:58] {Les} we in anything?
[12:58] {nemo} whaddya' think?
01[12:58] {&Threei}  coming into FOMC, no
06[12:59] * Les faints
01[12:59] {&Threei}  got couple good trades and couple good jokes
[12:59] {nemo} and the correct answer is....?
[12:59] {Les} Nemo asked me to think
[12:59] {nemo} we're in your usual mental state.....COMA
[12:59] {Les} was standby picket for security at state hospital. got called in
01[12:59] {&Threei}  found out some interesting facts about dp's romantic life and dino's intriguing underwear choices
[13:00] {Les} pass
[13:00] {Les} GDX
[13:00] {jdetente} fur boots
[13:00] {Les} he
01[13:00] {&Threei}  lol
[13:01] {nemo} likely story Les, they were trying to get you inside and have you committed
[13:03] {Les} see right thru me
[13:03] {nemo} well it's a clear shot from one ear to the other
[13:05] {Les} lol keep em coming
[13:05] {nemo} with your help of course
[13:05] {Les} u know u can count on me
[13:06] {nemo} you are the epitome of consistency
[13:06] {dino} mdso drop
[13:11] {nemo} vvus orgasmic today
[13:12] {Les} hmmm GDX
[13:12] {Les} inverse cup and handle
[13:12] {Les} break of .18?
[13:12] {nemo} FED day
[13:12] {dino} new blue pill attack, vvus
[13:12] {nemo} super glue your hands to your ass
01[13:13] {&Threei}  chart is right but nemo is too
[13:13] {Les} screw nemo
[13:13] {nemo} yeah, good chart read, bad time
[13:13] {nemo} 50:50
[13:13] {nemo} Love Les on point...leads with his head
[13:14] {nemo} VXX just dying, this is pointing to a rally, or it's a great headfake to set up the suckers
[13:15] {nemo} Mmmmhhhh...I can't identify the sucker around here, so it must be me
[13:16] {nemo} fdx looks short here
[13:17] {nemo} should test above 102 again
[13:20] {nemo} how's that gdx short working out for ya'?
[13:22] {nemo} vxx probably bounce in .20 area
[13:23] {nemo} actually looks like one coming now, but that will probably be back to .55-.60ish
[13:23] {nemo} fdx might be worth a try under .90 now with stop above 102
[13:25] {Les} drink something Nemo
[13:25] {nemo} waaaaaay ahead of ya' Les
[13:26] {Les} http://www.thereformedbroker.com/wp-content/uploads/2013/06/mom-enough.jpg
[13:26] {jdetente} lol
01[13:29] {&Threei}  - The Fed is expected today to attempt to calm markets after the recent bout of volatility over uncertainty about tapering plans. Expectations are that the Fed will take this opportunity to provide greater clarity on conditions that will trigger tapering and to stress that tapering is not equivalent to tightening policy and is not a triggering event for the exit strategy from its highly accommodative stance.
[13:31] {nemo} fdx broke, let's see
[13:31] {+cc_9} 30mins to go
[13:31] {+cc_9} anyone trading into the FOMC
[13:31] {+cc_9} or you guys all going flat ahead ?
01[13:32] {&Threei}  one dog to another: Wtach this, I can make Pavlov smile and write something in his little book. I believe this is reflex he developed on my drooling.
[13:32] {nemo} basically flat, you usually get the cha cha cha on fed day
01[13:32] {&Threei}  flat of course
01[13:33] {&Threei}  why needs to get caught into those seesaw movements up and down
[13:35] {Les} good call off vwap
[13:36] {nemo} it was bear flagging too
[13:36] {nemo} this is the inflection area though
[13:37] {nemo} iwm actually bear flagging
[13:37] {nemo} finnies look IH&S
[13:37] {nemo} SPY looks PushmePullyou
[13:48] {Les} spy pennant bull flag whatever
[13:48] {nemo} ?
[13:48] {Les} u c inverted h&s, I c pennant or bull flag
[13:48] {nemo} you didn't get that superglue, did ya'?
[13:48] {Les} still haven't got this particular formation worked out
[13:49] {nemo} gonna' start calling you Rorschach
[13:49] {Les} 15 min bb's tighter than bunny's butt here. move coming
[13:49] {nemo} vx looking short here
01[13:51] {&Threei}  of course move is coming... market stalled ahead of FOMC and will jump eother way right after
[13:51] {nemo} yep...cha....cha....cha
[13:53] {Les} yeh, don't wanna guess it either
[13:54] {Les} though Benny boy be not ready to wean those dependent TBTF kiddy banksters
[13:55] {dino} last time i think it was up, down, up ito close. day after down 100+
[13:56] {nemo} 19.20is is the 50sma and WS1 on VXX
[13:57] {+cc_9} everyone hold on to your butts
[13:58] {nemo} Les already has his head in there
[13:58] {Will49} how do i get the superglue off later?
[13:58] {+cc_9} Les, hold your head
[13:58] {nemo} nail polish
[13:58] {Will49} remover?
[13:58] {nemo} yep
[13:59] {Les} yeeha
[13:59] {jdetente} here comes the cha cha cha
[13:59] {nemo} the cha and the cha
[13:59] {Les} gld!
01[14:00] {&Threei}  *(US) FOMC HOLDS FED FUNDS RATE TARGET AT 0.25% (AS EXPECTED): 2 DISSENTING VOTES; WILL CONTINUE TO PURCHASE LONG TERM TREASURIES AT $45B/MONTH AND $40B/MONTH IN MBS- Vote 10-2
[14:00] {Will49} oh...i'm SO surprised
01[14:01] {&Threei}  really
[14:02] {nemo} yeah...trade this...9 must be creaming
[14:02] {jdetente} look at that bar on VXX
[14:03] {nemo} wow shoulda taken my own advice and thrown a vxx stink bid in at .20ish
[14:03] {Les} nearly down to the penny
[14:03] {nemo} bet that was the 50 sma
[14:04] {nemo} 19.20 is the 50
01[14:08] {&Threei}  it's an uh oh tiem for goldbugs
[14:08] {nemo} whoa tlt crapping too...yields going up
[14:10] {Les} damn GLD is close to new lows
[14:10] {nemo} Now we wait for Bennie's bedtime story
01[14:11] {&Threei}  GDX actually held better than I thought it would
01[14:11] {&Threei} Long Setup:  GDX  .25 break
[14:11] {jdetente} VXX dropping back down too
01[14:12] {&Threei}  If holds  .15
01[14:12] {&Threei}  let's try to steal one before Ben sings his lulabye
01[14:13] {&Threei}  stop to .19
01[14:13] {&Threei}  1:1
01[14:13] {&Threei}  by the book from here
01[14:13] {&Threei}  1:21:2
01[14:14] {&Threei}  my favorite song Fur Boots...
[14:15] {+cc_9} Anyone took a piece of that IWM on the drop ?
[14:15] {+cc_9} my god
01[14:15] {&Threei}  out last 1/4 on a trail
01[14:15] {&Threei}  back in coma
01[14:16] {&Threei}  don't tell me no one took this one
[14:17] {Will49} stepped away fo a minute and bang...gone
[14:17] {Les} sorry dinner time here
[14:17] {jdetente} I got a partial Vad
[14:17] {jdetente} didn’t fill the lot
[14:17] {_jackindbox} it was at .30 and I was hoping for a slight pullback to the twenties......
[14:17] {Les} tried getting on tza 30 break missed that too
[14:17] {stevw} was actually looking at a .20 entry and was surprised you weren't calling it - then it blew past me adjusting to the .25
[14:18] {Will49} anyway Vad...nice call
01[14:18] {&Threei}  ty
01[14:19] {&Threei}  (CA) BoC's Poloz: Not seeing any signs of Canada housing overheating
[14:20] {ese} am otta here....cya tomorrow exited srpt .19 +.31
01[14:20] {&Threei}  take care ese
[14:21] {Will49} be good ese
[14:22] {stevw} got out of my TNA position just before 2 - don't know what to think of what ensued thereafter
[14:22] {+cc_9} not gambling here, not even worth it honestly
01[14:22] {&Threei}  nothing
01[14:22] {&Threei}  usual after-FOMC seesaw
[14:22] {+cc_9} gona wait for the Merchant's comments at 2:30PM conference
[14:22] {stevw} i think i would have shot myself and then celebrated a few minutes later, then shot myself again
01[14:23] {&Threei}  if you hold position into that you may get lucky is first spike is in your favor and if you manager to exit in time
01[14:23] {&Threei}  or you may not
[14:24] {stevw} it became a graphic illustration of that for me - thankfully not literal, but close enough to make a point
01[14:24] {&Threei}  or you get lucky if first spike is against your position but you can't exit in time and then it spikes in your favor and this time you manage to get out
01[14:24] {&Threei}  to make it succint - sit this crap out :)
[14:25] {Will49} with your crossed eyes glued toMirc so you don't miss a call :(
01[14:25] {&Threei}  succinter yet: sit out or crap out
01[14:25] {&Threei}  (US) PIMCO's Gross: Headline of the Fed statement is that "tapering has been deferred" - CNBC
[14:26] {jdetente} wear your diaper at least
[14:26] {nemo} vxx held that confluence are
[14:26] {jdetente} sure did...
01[14:28] {&Threei} Short Setup: GDL  123 break hl
[14:29] {stevw} dyslexia break?
01[14:29] {&Threei}  eys
01[14:29] {&Threei}  GLD of course
01[14:29] {&Threei}  If holds  .12
01[14:29] {&Threei}  1:1
01[14:30] {&Threei}  Ben starts singing
[14:31] {dino} pretty calm for fed day
[14:31] {robbers} Yeah, until Ben sneezes.
01[14:32] {&Threei}  (US) Fed Chairman Bernanke: FOMC continues to see US economy grow at a moderate pace; expect inflation to move back to 2% target over time
01[14:34] {&Threei}  (US) Fed Chairman Bernanke: FOMC has been reviewing exit principals in recent meetings, a "strong majority" believe Fed will not sell agency securities but let them roll off
01[14:38] {&Threei}  lol, market is bipolar
01[14:38] {&Threei}  just can't make this statement out
[14:39] {dino} ie, hold to maturity
[14:40] {jdetente} yup
[14:40] {nemo} this volume is impressive in spy
01[14:40] {&Threei}  holding to maturity is not the ultimate solution though... what happens next is
[14:41] {dino} they will gradually write them off
[14:41] {nemo} well, as they roll off the balance sheet shrinks
01[14:41] {&Threei}  will they expect issuer to make good, or will they roll them out?
01[14:41] {&Threei}  if rolling to the next term, on what conditions?
01[14:41] {&Threei}  roll off how, nemo?
01[14:41] {&Threei}  that's what I am gwetting at
[14:42] {nemo} when they mature
01[14:42] {&Threei}  yes, and?
[14:42] {dino} you may be over-thinking it vad. they can hold to maturity
01[14:42] {&Threei}  yes
01[14:42] {&Threei}  but
[14:42] {nemo} so they don't increase the supply in the market
01[14:42] {&Threei}  it's a bond
[14:42] {dino} get paid over time
01[14:42] {&Threei}  someone has to pay it off
01[14:42] {&Threei}  or it should get rolled to the next term
01[14:42] {&Threei}  so, what is going to happen?
[14:42] {dino} no difference than me holding a bond
01[14:43] {&Threei}  the matter is, bond issuer is not capable to pay off
[14:43] {dino} don't overthink it
01[14:43] {&Threei}  other than issue new bond, i.e, roll over
[14:43] {Les} GDX giving in
[14:43] {dino} in 30 years, sure, if not write it off
01[14:44] {&Threei}  if that's what they are sayong, then it amounts to: our solution is to put it off for decades
[14:44] {jdetente} almost in perpetuity
[14:45] {jdetente} 30 years is a long time
[14:45] {dino} aussi dollar dropping fast
[14:45] {Les} well as Kyle BAss was saying
[14:45] {Les} vis a vis Japan
[14:45] {Les} big bond holders plainly said
[14:45] {dino} vad, bingo. that is what they are implying
[14:45] {Les} "time to sell"
[14:45] {Will49} that's my theory....keep the wheel turning for generations
01[14:46] {&Threei}  won't work, I susoect
[14:46] {Les} until someone says not interested anymore
01[14:46] {&Threei}  suspect
[14:46] {jdetente} this will be passed on to the next generation
[14:46] {Will49} USA will "fix" anyone who dissents
[14:46] {jdetente} and so on
[14:46] {dino} it always is jd
01[14:46] {&Threei}  anyway... gold says "me not happy"
01[14:47] {&Threei}  my strong suspicion... bond buyers will revolt way before those maturity terms
[14:48] {Les} TLT crapping indexes too. which is right...
01[14:48] {&Threei}  look at USD
[14:52] {Les} iwm .75 holding
01[14:53] {&Threei} Long Setup:  CAT  .95 break hl
01[14:53] {&Threei}  If holds  .85
01[14:54] {&Threei}  Invalidated
[14:55] {dino} what are you using for us dollar? uup?
[14:55] {jdetente} DOW says me no likey
[14:56] {dino} tlt sm l .80
[14:56] {dino} what r u using for us dollar? uup?
[14:57] {dino} what am i, wooded?
[14:57] {Les} futures I imagine dino
[14:57] {Les} http://www.finviz.com/futures.ashx
[14:57] {dino} thx les
[14:57] {Les} starting to get some bounce
01[14:57] {&Threei}  uup for the general idea dino
[14:59] {dino} ok, thought there was an fx_ symbol
01[14:59] {&Threei}  who wants to bet that ese comes in tomorrow blaming declime on Ben not saying "US economy is strong and resilient"?
[14:59] {Will49} $USD
[15:00] {dino} no worky here will
[15:00] {dino} whippy, tlt to .90
[15:01] {Will49} stockcharts.com
[15:01] {dino} ok, was looking for ticker for l2
[15:01] {dino} sorry to waste time
[15:01] {Will49} ah
[15:02] {Will49} no problem, we veterans have to help you young newbiew out :)
[15:02] {Will49} newbies
[15:02] {dino} lol
[15:03] {dino} out tlt .00, +.20
[15:03] {dino} too tight
[15:03] {jdetente} GDX,,,,
[15:03] {jdetente} splat
[15:06] {dptl} GDX .85 long?
[15:07] {Les} In a letter to euro-zone leaders, Cypriot President Nicos Anastasiades has asked that the bailout package for his country be revisited. The effects on the island nation's economy have been much greater than expected, he writes. EU leaders are "puzzled."
01[15:08] {&Threei}  I don't see it as compelling play dp
[15:08] {dptl} ok
[15:09] {Les} stealing from depositors ain't the confidence signal they thought it would be
01[15:09] {&Threei}  lol
[15:10] {dino} didn't cypress deny that this morning?
01[15:10] {&Threei}  EU rejected their request
01[15:10] {&Threei}  then they said "oh, we didn't mean to revise the terms"
01[15:10] {&Threei}  so now EU is puzzled
01[15:10] {&Threei}  and rightfully so
01[15:11] {&Threei}  I would put it this way:
01[15:11] {&Threei}  anyone who isn't puzzled by the whole EU charade must be thoroughly confused
[15:12] {Les} Der Spiegel writing otherwise Dino
01[15:12] {&Threei}  (CY) Cyprus Govt official responds to reports Cyprus was seeking a different bailout, notes that Cyprus is fully committed to applying the terms of the previouls EU/IMF bailout- Not attempting to renegotiate the bailout agreement - Reminder: Earlier European officials noted there was to be no new bailout terms for Cyprus
01[15:13] {&Threei}  from this morning, 10:28 am
[15:13] {dino} so they asked, then refused, so deny
01[15:14] {&Threei}  and everyone is puzzled
01[15:14] {&Threei}  see? it's all very clear
[15:14] {nemo} Greenspan at his best
01[15:15] {&Threei}  - Approx 7% unemployment is consistent with the FOMC consensus belief that would be enough improvement in the labor market to end purchases [current FOMC projections suggest this will be sometime in the middle of 2014]. Notes 7% level is NOT a policy change, just a general consensus amongst the FOMC about what constitutes "substantial improvement." - Reiterates that there is no fixed plan on QE purchases, all depends on economic data. - If Fed were to adjust the unemployment threshold (6.5%) for rate policy, it would be downward not upward.
01[15:16] {&Threei}  look who is puzzled too:
01[15:16] {&Threei}  Higher interest rates are partially due to optimism about the economy and partially due to perceptions about Fed policy. Fed is somewhat puzzled by rising bond yields.
01[15:16] {&Threei}  see what I mean Will?
[15:16] {dino} the threshold this spring was 6.5
01[15:16] {&Threei}  bond market will revolt at some point, and there is nothihg Fed can do about it
[15:17] {Will49} yeah....
01[15:17] {&Threei}  if they are puzzled about it at this point when they seem to be in total control...
[15:17] {Will49} ..." at some point..."
[15:17] {Les} we will get taste of that in Japan and Europe first
01[15:17] {&Threei}  that's the thing
01[15:17] {&Threei}  Japan, China, EU - those are first
[15:18] {Les} sooner or later CHF/EUR peg is gonna get blown outta the water
01[15:18] {&Threei}  we aree safe for now, simply because we are the skinniest girl in the fat camp
01[15:18] {&Threei}  but when they eat all the fatties...
[15:18] {dino} now thats a mental picture
[15:18] {Les} wish I had $10k lying around to buy every dip in CHF/EUR
01[15:18] {&Threei}  we better use this delay to fix things
[15:18] {Will49} fat chance
01[15:19] {&Threei}  lol
[15:19] {Les} not bad will not bad
[15:19] {Les} spy DB
[15:21] {Les} long iwm .45 holding .35
[15:21] {Les} please don't turn into inverse cup and handle
[15:22] {robbers} Thanks, Vad, for a really goooood day.
[15:22] {dino} gj robbers
01[15:22] {&Threei}  :)
[15:24] {Les} 1:1
01[15:25] {&Threei} Short Setup: GLD  .40 break hl
01[15:25] {&Threei}  If holds  .50
[15:26] {Les} 1:2
[15:28] {Les} 1:3 taken at.73
[15:28] {Les} might be something going for that visual recognition stuff
01[15:28] {&Threei}  wtg
[15:29] {stevw} nice one les
[15:29] {nemo} machine buying in the indexes
[15:29] {Will49} good one les
01[15:29] {&Threei}  stop to .46
[15:29] {Les} I resent that remark
01[15:30] {&Threei}  1:1 GLD
01[15:30] {&Threei}  100% day
[15:31] {dino} gj vad, same here, 4:4
01[15:31] {&Threei}  :)
[15:31] {Les} volatility makes the difference
[15:31] {dino} gj les
[15:31] {RonS} armh blood
[15:32] {jdetente} yeah great day Vad
[15:32] {jdetente} Fur Boots thanks you
[15:32] {Les} ty. gonna call it a day. hectic one, but enjoyable
[15:32] {dino} hway spike
01[15:32] {&Threei}  lol... who would have thought that ancient russian joke becomes a trading saw
[15:33] {dino} fb spike
[15:38] {+cc_9} ok folks
[15:38] {+cc_9} calling it a day here
[15:38] {jdetente} alright guys. Calling it. See everyone tomorrow
01[15:38] {&Threei}  GLD...
[15:38] {+cc_9} good trading everyone
01[15:39] {&Threei}  take care cc, jd
01[15:42] {&Threei}  lost 131
01[15:42] {&Threei}  bound to that dreadful April low
01[15:45] {&Threei}  uh
01[15:45] {&Threei}  oh
[15:45] {Will49} thanx for the calls Vad...good day
01[15:46] {&Threei}  yw
01[15:48] {&Threei}  GLD Spot gold extending decline below $1,355; 1-month low
[15:49] {dino} calling it a day, thx all.
[15:50] {_jackindbox} thank you all and Vad
01[15:51] {&Threei}  ok guys, thank you all
01[15:51] {&Threei}  have a great evening, see you tomorrow

June 18 2013

Decent day, not without stops but shorting GDX and SLW got us in the black nicely. Sector gets hit hard once again, and as usual we do well in falling market.

Session Time: Tue Jun 18 00:00:01 2013
[08:48] {thomcbell} gm all
01[08:51] {&Threei}  morning tbell
[09:02] {_jackindbox} good morning
01[09:02] {&Threei}  morning jack, welcome
[09:02] {dino} gm
01[09:02] {&Threei}  dino
[09:03] {RonS} gm, hi jack or do you go by Quizno?
01[09:03] {&Threei}  ron :)
[09:05] {+cc_9} Morning fellas
01[09:05] {&Threei}  cc9 :)
01[09:06] {&Threei}  in case you wondered, Sen. Claire McCaskill endorses Hillary Clinton for 2016
[09:06] {RonS} shoe-in then...
[09:10] {jdetente} morning guys...
01[09:10] {&Threei}  jd :)
[09:12] {RonS} Switzerland's first female finance minister attempts to strip away famous banking secrecy
[09:12] {RonS} sexism lives...lol
01[09:13] {&Threei}  lol
[09:13] {jdetente} nice
[09:13] {jdetente} haha
[09:13] {dptl} gm
01[09:14] {&Threei}  dp :)
[09:14] {jdetente} Fed Day today, right?
[09:14] {Les} hello
[09:14] {RonS} really tomorrow...
01[09:14] {&Threei}  les :)
[09:14] {robbers} They're meeting today, announcement tomorrow.
[09:14] {jdetente} oh that's right, thanks Ron
01[09:14] {&Threei}  they discuss dinner menu today, announce decision tomorrow
[09:14] {RonS} lol
01[09:15] {&Threei}  what do discuss really
[09:15] {Les} http://www.thereformedbroker.com/wp-content/uploads/2013/06/TAPER.png
01[09:15] {&Threei}  we keep it steady, and we argue about how we word it
[09:15] {RonS} lol Les...
[09:15] {jdetente} What do Reptilians eat, that's the only question
[09:16] {stevw} g'mornin fellas
01[09:16] {&Threei}  why, there is also lively discussion who would win a fisthfight, caveman or astronaut
01[09:16] {&Threei}  stev :)
[09:16] {nemo} I'll go with the caveman
01[09:17] {&Threei}  then don't forget all-encompassing enigma: do penguins have knees?
[09:17] {dino} good question
01[09:17] {&Threei}  that along can keed Fed busy for years
01[09:18] {&Threei}  alone
01[09:18] {&Threei}  keep
01[09:18] {&Threei}  jeez
[09:18] {Will49} gm
01[09:18] {&Threei}  will :)
[09:18] {Les} http://www.bloomberg.com/news/2013-06-18/obama-says-bernanke-fed-term-lasting-longer-than-he-wanted-1-.html
[09:19] {Les} scary message
[09:21] {+cc_9} NUGT cratering premarket, fwiw
01[09:21] {&Threei}  no wonder, look at GLD
01[09:21] {&Threei}  short gold must be one of those dream swing trades...
[09:21] {Les} looks like dollar readying for a bounce
01[09:22] {&Threei}  short around 1400, keep stop above 1500, start covering under 1000
01[09:22] {&Threei}  if you have a lot of nerve, be fully out between 800 and 600
[09:22] {jdetente} shorting VXX and various ETFs since the beginning of the year has been great too...
[09:22] {bbobr} gm
01[09:23] {&Threei}  bbobr :)
[09:23] {jdetente} those VIX etfs were born to die
[09:23] {cipher} gm
01[09:24] {&Threei}  true... time deterioration makes them very short term instruments
01[09:24] {&Threei}  cipher :)
[09:24] {Les} lana del ray baby
01[09:25] {&Threei}  GDX begs to be shorted on .90 break
[09:26] {Les} its a short trip back to 26'ish
01[09:26] {&Threei}  look how frighteningly close GLD is to its April low
01[09:26] {&Threei}  for all that huge selloff, such pathetic bounce?
[09:27] {Alexs} gm
[09:27] {Les} yeh one thing learnt from you
01[09:27] {&Threei}  ask dino and cipher who specialize in trading capitulation how they feel about a stock that wouldn't bounce rapidly after big selloff
01[09:27] {&Threei}  alex :)
[09:28] {Les} if tape ain't showing institutional interest it ain't interesting
[09:28] {Les} no sign of accumulation here
[09:28] {Les} just apathy
01[09:29] {&Threei}  OK... if morning volatility doesn't trip us, GDX .90 break is a first trade
[09:29] {dino} cipher, you trading much? haven't seen you posting
01[09:29] {&Threei} Short Setup: GDX  .90 break
01[09:29] {&Threei}  If holds  28
01[09:29] {&Threei}  risky as all opening trades
[09:30] {ese} morning
01[09:30] {&Threei}  ese :)
01[09:31] {&Threei}  Invalidated
01[09:31] {&Threei}  for now
[09:31] {thomcbell} prlb looks like ibd misplaced enthusiasm
01[09:32] {&Threei} Short Setup: GDX  .10 break
01[09:32] {&Threei}  If holds  .15
01[09:32] {&Threei}  very tight stop
01[09:32] {&Threei}  trying this kangaroo tail
01[09:34] {&Threei}  cover half here
01[09:34] {&Threei}  1:1
[09:34] {robbers} Out, beautiful call.
01[09:35] {&Threei}  SLW is untradeable by itself but ashows the way for GDX
[09:35] {Les} .93 taken a little
01[09:35] {&Threei}  1/4 more out
01[09:35] {&Threei}  let's see it it can break that .90
01[09:35] {&Threei}  stop .06
[09:37] {Les} 99 area IWM very interesting for potential breakout
01[09:38] {&Threei}  I's really prefer a pullback entry on IWM
01[09:39] {&Threei}  these slow creep-up days tend to rinse breakouts
[09:39] {nemo} resistance is R1 on the daily and the weekly R1
01[09:39] {&Threei}  but reward pullback entries... which in turn are trickier to find
[09:39] {Les} yeh the daily is firming up, need decent intraday entry if price shapes up accordingly
01[09:39] {&Threei}  in short, and if you haven't noticed... I hate slow creep-up days. Might come as a surprise
[09:40] {Les} managed to piss me off yesterday
01[09:40] {&Threei} Short Setup: GLD  .60 break hl
01[09:40] {&Threei}  we tried Les, we tried
[09:41] {Will49} out GDX tks Vd
01[09:41] {&Threei}  If holds  .70
01[09:41] {&Threei}  1:2 baby
01[09:41] {&Threei}  yw
[09:41] {jdetente} GDX broket through .90. Nice
[09:41] {jdetente} *broke
01[09:41] {&Threei}  stop to .01
01[09:42] {&Threei}  out on a trail
01[09:42] {&Threei}  Invalidated  GLD
01[09:43] {&Threei}  IWM, watching
[09:44] {Les} SPY holding VWAP IWM lost it.
[09:51] {+cc_9} WLT slowly recovering
[09:51] {+cc_9} new highs 12.60s
[09:52] {+cc_9} flying now
[09:52] {thomcbell} long fio 12.80
[09:55] {Les} GLD drop
01[09:55] {&Threei} Long Setup:  IWM  .55 break
01[09:55] {&Threei}  If holds  .45
01[09:58] {&Threei}  move stop to under .47
01[09:58] {&Threei}  takes too long, let's keep it tight
[09:59] {+cc_9} gold hard tank
01[09:59] {&Threei}  it shouldn't be this hard
[09:59] {thomcbell} sold 1/2 fio 12.96 + 0.16
01[10:01] {&Threei}  wtg
01[10:01] {&Threei}  GLD got away
[10:01] {dino} aegr gap fill
[10:05] {+cc_9} "he has been an outstanding partner" Obama on Bernanke
01[10:05] {&Threei}  partner in crime?
01[10:06] {&Threei}  http://www.realitytrader.com/vad/Crime%20of%20the%20Century.jpg
[10:06] {Les} you're just jealous
[10:07] {Les} screw IWM
[10:07] {jdetente} IWM worked...
[10:07] {dino} infi
[10:08] {dino} sm s .52
[10:09] {dino} stop infi .82 -.30
[10:10] {nemo} we're in the Bernanke Lull
[10:10] {nemo} gotta' figure they get this over 165 to probe stops
01[10:11] {&Threei} Short Setup: GLD  132 break hl
01[10:11] {&Threei}  If holds  .10
01[10:13] {&Threei}  stop to .06
[10:13] {ese} His policies were certainly responsible for allowing the inflated run up in real estate into 2008 and the subsequent crash
[10:13] {Les} but that made u all richer americans and canadians didn't it?
01[10:13] {&Threei}  as were Clintion's
01[10:14] {&Threei}  and as Ben's are for this bubble in stocks
[10:14] {ese} and how bout this one: Ex-Bank of America mortgage workers were 'told to lie' :http://www.cbc.ca/news/world/story/2013/06/18/business-bank-of-america-hamp.html
01[10:14] {&Threei}  out GLD
[10:15] {ese} to charge home owners extra penalties.....or to make it imposible for them to renew mortagages...........nice
[10:15] {ese} who can you trust these days
[10:16] {Will49} and no accountability anywhere
[10:16] {Will49} a few public hangings would be good
[10:16] {ese} agreed
01[10:16] {&Threei}  oh, don't simplify whole housing debacle to banks transgressions please
01[10:16] {&Threei}  this tango took 3
[10:16] {jdetente} sounds like disgruntled ex-employees to me.
01[10:16] {&Threei}  government, banks and we the people
[10:16] {jdetente} I know someone on the inside there and that's certainly not a corporate policy
[10:17] {ese} as it is....no one in the banking business gets charged with anything as it is....so why not bilk people
01[10:17] {&Threei}  ese, why no one got charged for govt policies demanding lending to those who were unqualified?
[10:18] {ese} a" bunch" of disgruntled employees looks like
[10:18] {ese} thats another good question
01[10:18] {&Threei}  and why no one got charged for taking a mortgage they couldn't afford while lying in their paperwojr?
01[10:18] {&Threei}  as I said, took three to tango
[10:18] {dino} no doc loans backed by fannie and freddie was most of problem
[10:19] {jdetente} sure was
[10:19] {jdetente} couple that with borrowers not being held responsible for understanding what they were signing...
[10:19] {Les} got on the kill GDX train short .72
[10:19] {ese} were they mortgage brokers or mortgage lenders?
[10:19] {ese} Fannie and freddie
[10:20] {jdetente} dang GLD rinse
01[10:20] {&Threei}  yeah
[10:20] {Will49} you can't expect the sheeple to uphold regulations...gotta be the professionals
[10:20] {dino} govt run guarantee of loans
[10:20] {dino} fnm, fre
01[10:20] {&Threei}  they were mortgage backers
[10:20] {Les} cover half .63
01[10:21] {&Threei}  lending to lenders and guaranteeing their mortgages
[10:21] {ese} ahhhhhhh
[10:21] {jdetente} yeah Fannie Freddie guaranteed to buy the loans done by the lenders
[10:21] {Will49} society moving away from rule of law and into a regulation world
01[10:21] {&Threei}  mortgage originating somewhere else would end uo in FNM and FRE
[10:21] {Will49} break a regulation...get a slap on the wrist
[10:21] {Will49} if that!
01[10:21] {&Threei}  and that guarantee made banks feel safe
[10:21] {Les} DB gld?
[10:21] {ese} gottcha
01[10:21] {&Threei}  I don't it
[10:21] {RonS} meantime, took sm L aegr .02 to .85  thanks dino...+.83
[10:22] {+cc_9} GDX not a single bounce yet
[10:22] {ese} then make it look like you've made a profit on paper
[10:22] {Les} and that's the way I like it cc
[10:22] {thomcbell} out 2nd half fio 13.20
[10:22] {Les} although I see GLD might have bounce potential ehre
[10:22] {thomcbell} + 0.40
[10:22] {RonS} gj
[10:22] {Will49} wtg tbell
[10:22] {dino} wtg ron
01[10:23] {&Threei}  nice on tbell
[10:23] {ese} nice one +.83 ron
[10:23] {ese} 5k worth?
[10:23] {jdetente} going back to BAC...the biggest issue with that institution is that it is so huge, incompetence is easy to hide. I worked there and the left hand often times did not know what the right was doing.
[10:24] {jdetente} it was what you call a cluster...hehe
[10:24] {RonS} should do it....Taliban says they will open an office in Qatar to seek political solution to Afghanistan war
[10:24] {ese} huh?
[10:24] {Les} GDX 2H coverd flat
[10:24] {Will49} that otta work
[10:25] {ese} and of course....no women are allowed to staff the office
01[10:26] {&Threei}  (US) National Security Agency Chief General Alexander indicates the US has thwarted more than 50 terrorist attacks since 9/11 \
[10:27] {dino} just vsend a drone over that new tali office
[10:27] {RonS} why not 5000?  the bastards lie about everything...
[10:27] {ese} indeed
[10:27] {Will49} amen
[10:27] {stevw} i always wanted one of those jobs where you can say stuff didn't happen because of you
[10:27] {ese} lol
[10:28] {Les} well you're all looking like better traders today because of me
[10:28] {stevw} lol
[10:28] {Will49} every day
[10:28] {jdetente} what did you now Les??
[10:28] {RonS} it's easy stev...no one got pregnant because of me...Les says it al the time...
[10:28] {ese} I don't drink because of will and vad and dp......
[10:28] {Will49} haha
[10:28] {Will49} that's a blatant lie ese :)
[10:29] {jdetente} then why do you drink ese?? lol
[10:29] {ese} I REPRESENT THAT REMARK!!!!!!!!!! HOW DARE YOU CALL ME A LIAR!!!!!!!!
[10:30] {Will49} will hangs head in shame
[10:30] {ese} Our friendship is off will....................................until you buy me the next drink of course
[10:30] {ese} lol
[10:30] {Will49} always thought that was the price
[10:30] {stevw} why can't the banks get any traction on this up day?
[10:31] {Les} http://www.thereformedbroker.com/2013/06/18/private-clients-are-buying-while-hedge-funds-sell/
[10:32] {Les} GS still sitting on 10dma strong stock
[10:32] {Les} GDX u piece of...
[10:33] {+cc_9} shit
[10:33] {+cc_9} down down down...not even a dead cat...
[10:34] {Les} bounced just enough to stop me out
[10:34] {+cc_9} need 27.75+
[10:35] {+cc_9} what a pos...no traction
[10:35] {+cc_9} need some gold commercials, where is glenn beck
[10:35] {ese} first time i've ever heard of that fellow Les
[10:35] {ese} interesting stat though
01[10:36] {&Threei} Short Setup: SLW  .95 break
01[10:36] {&Threei}  If holds  .05
[10:37] {+cc_9} jeez GDX, no bids
[10:37] {Les} one of my few daily reads ese
[10:38] {Les} GDX nearly S3 already
[10:38] {Les} .55 short GDX?
[10:39] {+cc_9} needs a strong bounce, way overdue
[10:39] {Les} might be here
[10:39] {+cc_9} 27.80 needs
01[10:39] {&Threei}  not sure about shorting it here
[10:39] {Les} yeh back to vwap would be nice
[10:39] {+cc_9} nada...
[10:40] {+cc_9} print .60s, back to .50s. Absolutely no bids on this pos
[10:41] {+cc_9} its screaming new lows, NUGT wants all those sub $9.00 stops
01[10:46] {&Threei}  well SLW
01[10:46] {&Threei}  will you trip, fall and die?
[10:47] {dino} sdow sm l .50
01[10:48] {&Threei}  SLW drop should also push GDX off the cliff
[10:49] {+cc_9} I guess thats no good for me, im long GDX  at 27.68
01[10:49] {&Threei}  sorry...
[10:50] {+cc_9} im only looking for 27.75-.80
[10:50] {+cc_9} $0.10 looks like asking for a lot today
01[10:50] {&Threei}  sure looks this way
[10:51] {+cc_9} sideways for 20mins GDX
01[10:54] {&Threei}  so what do you think, goldbugs watch this with horror, or jump up and down singing "oh good we can buy more"?
[10:54] {jdetente} buy more
[10:55] {jdetente} they are convinced
01[10:55] {&Threei}  1:1
01[10:55] {&Threei}  "it's manipulation but they won't fool me"
[10:55] {Les} perhaps now the brighter ones realise that it's not gonna happen tomorrow
[10:55] {Les} perhaps not ever
[10:55] {Les} this time I'll use the tape to tell me
[10:56] {Les} no more gurus
01[10:56] {&Threei}  "they shake out weak hands but they will pry my gold from my dead cold fingers"
[10:56] {Les} like SDOW if holding .40 dino
01[10:56] {&Threei}  {They} Sure, no problem
[10:56] {Will49} out on scalp tks Vad
01[10:56] {&Threei}  yw
[10:59] {dino} infi sm s .92
[11:02] {dino} prlb sm s .80
01[11:02] {&Threei}  ok SLW... pathetic attempt to bounce, not much luck... die more
01[11:03] {&Threei}  die deader
01[11:03] {&Threei}  it's correct literature English, right?
[11:03] {Will49} die more dead?
[11:04] {Les} hay its yer rooom
[11:04] {dptl} TEX .20 short?
[11:04] {dptl} or even .25?
01[11:04] {&Threei}  .25 is better
[11:05] {+cc_9} GDX RIP
[11:05] {dptl} with .35 stop?
01[11:05] {&Threei}  nah, .30
[11:05] {dptl} k
01[11:05] {&Threei}  will, how about this version, sounds more epxressive I think: die more deader
[11:06] {Will49} yeah that's got to be it
[11:06] {dino} prlb stop .05 -.25
[11:08] {Will49} and add...you somg
[11:08] {+cc_9} No single bounce in sight GDX, as ugly as it gets
01[11:11] {&Threei}  Secret surveillance programs helped stop attack on NY Stock Exchange, FBI official says.
[11:11] {Les} lol
01[11:11] {&Threei}  woohoo?
[11:11] {dptl} APOL .50 short
[11:12] {dptl} ?
[11:13] {dino} infi stop .03-.11
01[11:13] {&Threei}  late anyway, but .55 was much better trigger
[11:13] {dptl} ye in at .58
[11:13] {dptl} oops .48
[11:13] {+cc_9} no profit taking DUST ? geez
[11:14] {dino} aegr sm l .03
[11:19] {Les} potential triple top SPY
[11:19] {Les} sorta cup and handle tlt
[11:21] {+cc_9} GDX little bounce, needs to clear 27.60
[11:21] {nemo} see what it does when it get's to the right side of the channel Les
[11:21] {nemo} I see it staying long so far
[11:23] {Les} k
[11:23] {dptl} AGNC .05 short?
[11:23] {+cc_9} 27.56 new cost on GDX (L) needs a quick pop
[11:25] {Les} yeh cup and handle sorta here GDX
[11:26] {RonS} lnco sm L 33.09 ave
[11:26] {+cc_9} higher lows GDX on 1min, but highs are stuck, needs .55 bid
[11:26] {dino} iep sm l .80 ave
[11:26] {nemo} see what I mean Les
01[11:28] {&Threei}  too narrow dp
[11:29] {dptl} ye but if it takes 25 can drop nicely
[11:29] {+cc_9} GDX, 1 step forward, 10 back
[11:29] {+cc_9} no bids
[11:29] {+cc_9} volume high, but only on one side
01[11:30] {&Threei}  dp... there is no energy in it either wasy
01[11:30] {&Threei}  it's just not much of a trading candidate
01[11:30] {&Threei}  don't force the trade
[11:30] {dptl} i see
01[11:30] {&Threei}  it should scream at you, be irresistible
01[11:31] {&Threei}  this one, you need to dig deep into its soul to find any spark
[11:31] {+cc_9} GDX, need .60 bid for a nice reversal
[11:32] {dptl} ye...lately they all been laughting at me , not screaming :)
01[11:32] {&Threei}  if you need to relax and distract yourself for a minute from this feverish seacrh for a trade, look at http://photography.realitytrader.com/2013/06/ultra-wide-view.html
[11:33] {dptl} OK....moving stop to .56 APOL
[11:33] {jdetente} looked through those earlier Vad. Really nice photos.
01[11:33] {&Threei}  ty
[11:34] {dptl} nice....is that pet deer? :)
01[11:34] {&Threei}  {SLW} I just watched last installation of Bruce Willis saga. I am ready to die harder
01[11:35] {&Threei}  no, just a deer
[11:35] {Will49} deer all over the place here dp
[11:35] {jdetente} or it may have watched the Bond movie...Die Another Day
[11:35] {nemo} deer?
01[11:35] {&Threei}  no one knows what to do with them, they are real problem
[11:35] {nemo} I know what to do with them
[11:36] {RonS} got no Indians w/ bows & arrows?
01[11:36] {&Threei}  well, a lot of people would be happy, nemo :)
[11:36] {jdetente} 30-06
[11:36] {Les} then you better know what to do with the greenies that follow u up with lawsuit nemo
[11:36] {dptl} lighthouse is amazing one
[11:36] {Will49} the cemetary at end of my street is favourite grazing grounds for them
01[11:36] {&Threei}  actually Ron... they found couple last year, killed by arrows :)
[11:36] {nemo} I'll bring my bow
[11:36] {Will49} really unnerving to see them nibbling on grave sites
[11:36] {RonS} Predator target practice?
[11:36] {nemo} you can work on your venison grilling, Vad
[11:37] {dino} circle of life will
[11:37] {Will49} yeah dino
01[11:37] {&Threei}  I am on board nemo
01[11:37] {&Threei}  - Heightened volatility is again the order of the day as the FOMC convenes in Washington, DC for a two-day meeting. The DJIA has seen five straight days of triple-digit moves, for a level of volatility not seen since Fall 2011.
[11:37] {+cc_9} ok GDX, lets get a baby bounce here
01[11:38] {&Threei}  - Tomorrow's press conference by Fed Chairman Bernanke will be main event of the week, with markets expecting more details on the Fed's taper strategy. Market participants continue to marvel over the near 150-point drop in the DJIA yesterday afternoon after the FT published a preview for the event with the title "Fed likely to signal tapering move
01[11:38] {&Threei}  ." Bernanke's future as chairman is also in focus after last night President Obama told Charlie Rose on PBS that Bernanke has stayed on longer than he originally planned and avoided directly answering whether or not he would reappoint Bernanke at the end of his term in Jan 2014.
[11:38] {dino} out aegr .08, +1.05
01[11:38] {&Threei}  who cares?
[11:39] {Will49} nice dino
[11:39] {Will49} that'll make you feel better
[11:39] {dino} thx
01[11:39] {&Threei}  Ben is out? Big deal, Yellen is in, and she is even more dovish
01[11:39] {&Threei}  wtg dino
[11:39] {dino} back to even on the day, tough start
[11:40] {+cc_9} need a push on GDX here
[11:40] {+cc_9} stalling
[11:41] {Les} I wanna short it again
[11:41] {Les} stalled though
[11:42] {+cc_9} Let me get out @ 27.60 then you can have my shares
[11:43] {+cc_9} ill even give you a discount
[11:43] {Les} SOLD!!
01[11:44] {&Threei}  meanwhile, big municipal scandal in Winnipeg: mayor caught throwing his chewing gum in the grass, called out by a concerned citizen, has to apologize
[11:44] {jdetente} that's an article from The Onion, right??
[11:44] {jdetente} has to be a joke
01[11:44] {&Threei}  you would think so
01[11:44] {&Threei}  http://www.winnipegfreepress.com/local/chewing-out-the-mayors-poor-attitude-208927641.html
[11:44] {Les} feed him to the lionsw
[11:44] {Les} - w
[11:45] {Les} plebs need circus to amuse them
[11:45] {jdetente} we are in trouble...
[11:46] {jdetente} let's just say values have been turned upside down when this makes the news
01[11:46] {&Threei}  well... it's Winnipeg... {G}
[11:46] {+cc_9} What a POS
01[11:46] {&Threei}  when you have 9 months of winter, everything's news
[11:46] {+cc_9} gives 27.54 no follow through GDX
[11:47] {RonS} was talking to my brother re baseball coach in high school...told story that he would pick out freshman he did not like and have them hold out hand, in which eh placed his tobacco chaw from mouth while he addressed team...those were the days...
[11:47] {Les} u know that if it ain't goin up cc...
[11:47] {jdetente} he would be arrested now
[11:47] {jdetente} child endangerment
[11:47] {Will49} we have mayors of 3 large cities in trouble now
[11:48] {Will49} Montreal mayor arrested yesterday (fraud)
[11:48] {dino} whoa gum is trouble?
[11:48] {Will49} Toronto mayor smokes crack (supposedly)
[11:48] {Will49} and now THIS
[11:49] {Les} sure it is dino. u know that it could choke an innocent deer
[11:49] {RonS} it is unless you are in nursing home...then nirvana...
01[11:49] {&Threei}  now, if you think that was funny, get this: readers' comments got so hated that some had to be removed:
01[11:49] {&Threei}  This comment has been removed for violations of our Terms and Conditions.
01[11:49] {&Threei}  hated = heated
[11:49] {dino} should be non-issue, fine him for littering and move on
01[11:49] {&Threei}  SLW, DIIIIEE!!!!
[11:50] {jdetente} political correctness and greenies...
[11:50] {jdetente} worst combination
01[11:50] {&Threei}  rofl
01[11:50] {&Threei}  one of comments says she (citizen):
01[11:51] {&Threei}  should have called 311 & made a complaint to Bylaw Enforcement & asked for a callback on action taken.
01[11:51] {&Threei}  mama... I need another planet
01[11:51] {&Threei}  better yet, another solar system
[11:51] {jdetente} moving to Mars
01[11:51] {&Threei}  Krypton might do
[11:51] {dptl} out 1/3 apol
[11:52] {Les} aren't you guys ashamed of yourselves?
[11:52] {Les} I mean, this is gum we are talking about
[11:52] {dino} well they are canadians les
[11:52] {Will49} that's exactly the point les
[11:52] {Will49} in our system, gum is a red flag
[11:52] {Les} aaah sarcasm doesn't travel well over net
[11:53] {dino} iep to b/e
[11:53] {Will49} half our senators are fraudsters and that's all right, but GUM?
[11:53] {+cc_9} GDX, that last pop was literally 0.06 from cost
[11:55] {Les} hey if you're like Nemo and don't have what it takes for thinking trhough big picture, gum'll do it for ya
[11:55] {Les} little things...
[11:55] {Les} gun
[11:55] {Les} beer
[11:57] {Les} football
[11:57] {Will49} that sounds like a national insult
[11:57] {+cc_9} SLW @ double bottom
[11:57] {+cc_9} needs breaking @ 22.90 bid
[11:57] {Will49} les, I just put in a request to have our Prime Minister pay you a visit
[11:58] {Will49} he just finished putting Putin in his place
[11:58] {RonS} say that 3 times fast...
[11:58] {Will49} lol
[11:59] {+cc_9} SLV bouncing
[11:59] {Les} really, what he have to say to Putin?
[11:59] {Will49} PM puts Putin properly in place
[12:00] {jdetente} unlike Obama
[12:00] {Will49} sorry Les, that's restricted
[12:00] {RonS} lol
[12:00] {Les} http://www.spiegel.de/international/europe/bild-906203-426589.html
[12:01] {Will49} We can't screw around with Obummer, he's our biggest customer
[12:01] {Les} Putin looks like an easy man to put inhis place....not
[12:01] {dino} how about him steeling that super bowl ring story
[12:01] {Les} looks like that fist is ready to strike out
[12:01] {Les} strange that dino?
[12:01] {Les} -?
[12:02] {dino} kraft, owner of patriots is saying putin asked to try his ring on, kraft let him, putin puts ring in pocket and walks away w/bodyguards
[12:02] {+cc_9} GDX trying again, new bids
01[12:02] {&Threei}  (CY) Cyprus President Anastasiades has asked eurozone leaders for a complete revamp of his country's €10B bailout
[12:02] {+cc_9} needs .56
[12:04] {+cc_9} GDX tough time in the early .50s
[12:05] {+cc_9} needs mid .50s for a clean b/o
01[12:07] {&Threei} Short Setup: FB  .50 break
01[12:07] {&Threei}  If holds  .55
[12:13] {+cc_9} GDX all tease, tiny bounce then back to square 1
[12:13] {+cc_9} i wonder if this thing will even have a single upward move today
[12:13] {+cc_9} afternoon already starting
[12:13] {Will49} knew a girl like that
[12:17] {Les} long tna .07 holding 50 might return to test support and offer 2nd entry
[12:17] {Les} hoping for retest of highs
[12:17] {+cc_9} Gold bear on Bloomberg, not helping the case
[12:18] {Les} trotting out the naysayers can't be good for bears
[12:18] {RonS} out LNCO .65  +.56
[12:18] {+cc_9} GDX an absolute dog
[12:18] {+cc_9} can't catch a bid to save its life
[12:19] {Les} out for the scalp tna looking for retest
[12:20] {dptl} Vad are you in FB?
01[12:21] {&Threei}  y(awn)es
01[12:21] {&Threei}  SLW... believe it or not...
01[12:21] {&Threei}  1:2
[12:21] {dptl} ok i got in now FB
01[12:22] {&Threei}  very slow day, and trades develop incredibly slowly
01[12:22] {&Threei}  but heck
[12:22] {Will49} what else do we have to do eh?
01[12:22] {&Threei}  eqzaktly
01[12:23] {&Threei}  and I insist on this being the best English possible
01[12:23] {&Threei}  bestest I'd say
[12:23] {Les} you could write to your local mayor about littering
[12:23] {Will49} snatcherely
[12:24] {Will49} after the Yanks and the Aussies corrupting the Queen's english, we is all she has left :)
[12:25] {+cc_9} GDX slow death, the worst kind
[12:25] {+cc_9} 0.04 off my avg pps then splat
[12:25] {+cc_9} slow slow grind, no momo no bids, no bottom feeders
[12:25] {Les} surprised your not in SSO cc
[12:26] {Les} around these levels
[12:26] {jdetente} hmmm Will. Canadian English what is that if not corruption?
[12:26] {jdetente} an improvement? hehe
[12:27] {Les} not sure you have the right to say Canadian English as seperate vernacular. You guys sound like yanks to mee
01[12:28] {&Threei}  why then my keyboard has separate setting for English USA and English Canada
[12:28] {RonS} lol
[12:28] {Will49} jd..it's the French Canadians who mangle their language, we Anglais are pure :)
[12:29] {jdetente} lol
[12:29] {Les} surprised US keyboards aren't Spanish
[12:29] {Will49} won't be long
[12:29] {jdetente} some are
[12:30] {+cc_9} GDX @ "double bottom" range, T&S filled with sells
[12:30] {Les} lost my position on TNA and here comes retest of high
[12:30] {RonS} was in Osaka once...saw a lanky white guy operating door to night club...said: g'day mate...guy says don't call me a fricking Aussie, "ahm from Alabama"...
[12:31] {jdetente} hahahaha
[12:31] {Les} watch GLD cc
[12:32] {+cc_9} Les, GLD / SLV stable, GDX slow death, 1 penny downtick at a time
[12:32] {+cc_9} GLD holding up, way off lows
[12:32] {Les} but GLD near VWAP test at .10
[12:32] {+cc_9} GDX no follow through
[12:32] {Les} .13 or thereabouts
[12:32] {Les} if GlD fails here...
[12:32] {Les} me short GDX
[12:33] {+cc_9} GDX any print of LOD could get nasty triggering major stops
[12:33] {Les} .44
[12:33] {Les} need GLD to fail for it tow work
[12:33] {+cc_9} GDX that slight bounce @ 12:00PM was my exit level, but $0.04 shy, unreal
[12:34] {Les} thought about going long but see no reason certainly no enthusiasm
[12:34] {Les} GLD going for the resistance
[12:34] {+cc_9} GLD needs 132.20 break Les
[12:35] {Les} do you see order flow cc?
[12:35] {RonS} 5 min ago:  BREAKING: Icahn proposes Dell start offer for 1.1 billion share at $14 per share
01[12:35] {&Threei}  ese, look dcc
[12:35] {+cc_9} Les, on which GLD or GDX ?
[12:36] {dino} hum dee dum, nothing hitting my scaners
[12:36] {Les} all stocks cc
01[12:36] {&Threei}  (CY) Cyprus President Anastasiades has asked eurozone leaders for a complete revamp of his country's €10B bailout - FT- Claims Cyprus may not be able to fulfill the terms of the rescue because it has harmed the country's economy and banking system even more than expected. - Requested that EU leaders to unwind the restructuring and partial merger of its two largest banks. -
01[12:36] {&Threei}  what do you mean by that les?
[12:36] {+cc_9} Les, GLD trying
[12:37] {+cc_9} just got over resistance
01[12:37] {&Threei}  order flow?
[12:37] {Les} does his job allow him to see all the traders like ourselves buying and selling?
[12:37] {+cc_9} Les, GLD @ 132.20, still reversing, but GDX no follow through
[12:38] {Les} GDX stopped -.02 will wait and see
01[12:38] {&Threei}  you think we make any difference in stocks like this?? :)
01[12:38] {&Threei}  mosquito on elwephant's back
[12:38] {Les} no, but cc keeps providing very precise targets
[12:38] {Les} wondering if he sees stops like market makers
[12:39] {+cc_9} GDX all needs is .60 bid for reversal, that's key
[12:39] {+cc_9} GLD right now sitting @ breakout pps 132.20 . needs to clear or we see more stalling
01[12:39] {&Threei}  again... how orders as minuscule as ours could provide any meaningul information?
[12:39] {Les} not talking about our room
[12:39] {+cc_9} order flow is a myth imo, 80%+ is algo, and they do not give any indication what so ever
[12:39] {Les} but ALL CLIENTS
01[12:40] {&Threei}  ???
[12:40] {+cc_9} im only following price action
[12:40] {Les} k
01[12:40] {&Threei}  someone working at one brokerage seeing orders from others?
[12:40] {+cc_9} Les, I can track the trades of 200+ traders, but its meaningless
01[12:40] {&Threei}  Les... tin hat is in order
[12:40] {Les} is that all?
[12:40] {+cc_9} algos and big desks are in control, all the time, at all time
[12:40] {jdetente} http://farm3.staticflickr.com/2274/2404325409_5543da1791.jpg
[12:40] {jdetente} that you Les?
[12:40] {Les} oh ok, yeh well 200 ain't gonna shake the earth
[12:41] {Les} I'm the cat
[12:42] {+cc_9} GLD, like I said key was 132.20, got there and now fade
[12:42] {Les} GLD arguably fails VWAP here, but I'll await new low for GDX unless Vad wants aggressive entry
[12:42] {Les} lunch time
01[12:43] {&Threei}  ese, look dcc pls
[12:43] {+cc_9} Les, GLD another 132.20 attempt
01[12:43] {&Threei}  SLW, last piece out on a trail
[12:43] {+cc_9} needs to hold that bid so GDX can catch some traction
[12:44] {Les} yeh watching its bounce potential GLD
[12:45] {+cc_9} GDX early .50 on bid, needs mid and should be good
[12:45] {+cc_9} I start selling .60
[12:45] {+cc_9} baby sitting this POS all day, no fun
[12:46] {+cc_9} Les, GLD draw a line @ 132.20, you will see that it matches pps from 10:04AM
[12:46] {+cc_9} that's the wall still
[12:46] {Les} potential dt in spy here
[12:47] {Les} GLD failing that test
[12:48] {Les} IWM taking the lead again
[12:49] {+cc_9} Les, yes, but you see its tightening
[12:49] {+cc_9} trying from 12:36PM
[12:50] {+cc_9} next test of 132.20 it goes
[12:50] {+cc_9} closing in
[12:50] {Les} yeh yeh not making any move here but want to see GLD fail, followed by renewed miner selling
[12:50] {Les} not interested in long
[12:50] {+cc_9} Once we break clear this 132.20, GDX should give us some mid .50s at last.
[12:50] {+cc_9} Here we go, GLD
[12:54] {+cc_9} hugging that 132.20 wall, needs nice and clean push
[12:54] {jdetente} FB stop
[12:57] {ese} heading out all.....cya tomorrow
[12:57] {dptl} ye stopped FB
[12:57] {dino} zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz
[12:58] {jdetente} agree Dino...whole lotta nothing
[12:58] {jdetente} I promised myself I wouldn't drink this morning either
[12:58] {+cc_9} GLD stuck, GDX flat lining
[12:59] {dino} lol jd. but no drinks 'til the close
[12:59] {+cc_9} You know there is not s*it going on when all you need is a triple priced ETF to move $0.10
[12:59] {+cc_9} (GLD)
[13:00] {+cc_9} GLD, another wall test
[13:00] {+cc_9} lets clear 132.30 already...yawn
[13:03] {+cc_9} GDX at a $0.15 channel (pathetic) since 10:52AM
[13:09] {+cc_9} GLD stable, GDX slow grind down (again)
01[13:14] {&Threei} Short Setup: CAT  .50 break hl
01[13:14] {&Threei}  If holds  .60
[13:19] {dptl} FAST .75 short?
01[13:19] {&Threei}  if reconsolidates... a bit too far from there
[13:20] {dino} ardc l .65
[13:25] {+cc_9} GDX paint dry but still watching it
[13:25] {+cc_9} maybe i put another coat
[13:26] {+cc_9} For those interested, here are the components/holdings of GDX : http://finance.yahoo.com/q/hl?s=GDX+Holdings
[13:32] {dino} tza sm l .02
[13:35] {dino} ryn spike
[13:35] {dino} stml spike
[13:37] {dino} ryn sm s .43
[13:43] {dptl} WY .15 short?
[13:44] {+cc_9} GLD upticking, gold stocks going lower
[13:46] {+cc_9} FOMC tomorrow 2PM : same old
01[13:46] {&Threei}  with stop above .20, why not
[13:46] {dptl} ye i am in
[13:47] {dptl} still in APOL
[13:47] {dptl} stop to .21
01[13:48] {&Threei}  man... you arwe so eager to trade
01[13:48] {&Threei}  do something, whatever it is
01[13:48] {&Threei}  there is nothing out there today
01[13:48] {&Threei}  yet you find trade after trade, and manage to have two at once going
[13:49] {dptl} ? i am in apol for last couple of hours :
[13:49] {dino} stop ardc .57-.08 thing won't move
01[13:49] {&Threei}  and asked about 4 more meanwhile
[13:49] {Will49} have you had a smoke break?
[13:49] {dptl} lol yes
[13:49] {Will49} how many? :)
[13:50] {dptl} but ye..thats my problem
[13:50] {dino} ryn to b/e
01[13:50] {&Threei}  we spoke about that trading fever, didn't we?
[13:51] {Les} setup a paper trading screen dp and knock yerself out
[13:51] {Les} what I do
01[13:51] {&Threei}  have you taken GDX and SLW earlier, 1:2ers?
[13:51] {Les} I see I had to stop today. Jellyfish day
[13:51] {dino} out ryn reverse slip .38. +.05
[13:52] {dptl} out wy
01[13:53] {&Threei}  dp, have you taken GDX and SLW earlier, 1:2ers?
[13:53] {dptl} no
01[13:53] {&Threei}  no?
[13:53] {dptl} no, was dealing with other
01[13:53] {&Threei}  you ignored pefectly good setups that worked, but went for those that get stopped, and added a few on your own?
01[13:54] {&Threei}  something's wrong with that picture, don't you think?
01[13:54] {&Threei}  are you in CAT now?
[13:55] {dptl} yeah....same old issues .....no after FB decide to let CAT  go
01[13:55] {&Threei}  shrug
01[13:55] {&Threei}  I don't know what to say
[13:55] {jdetente} why don't you take CAT now dp?
01[13:55] {&Threei}  you are on a self-sabotage mission
[13:56] {nemo} we talking dp threei?
[13:56] {nemo} I saw self-sabotage
[13:56] {dptl} i think so, and dont understand how to get rid of it
01[13:57] {&Threei}  I don't understand what to understand...
01[13:57] {&Threei}  just don't do it!
01[13:57] {&Threei}  stop this endless pushing for yet another trade
01[13:58] {&Threei}  look at today... why exactly didn;t you take SLW for instance?
01[13:58] {&Threei}  what it was you were pre-occupied with?
01[13:59] {&Threei}  or GDX for that matter, that one happened near the open
01[13:59] {&Threei}  you managed to get yourself in some other trade even before that?
[13:59] {dptl} yeah...looked at other stuff...(that didt work after all)
01[14:00] {&Threei}  [09:32] {@Alert} Threei Short Setup: GDX .10 break
01[14:00] {&Threei}  2 min after open!
01[14:00] {&Threei}  and you already were trying to do something other than waiting for an alert
01[14:01] {&Threei}  I have just one question I weant to you to think about
[14:01] {dptl} well ...not really....my firs trade was at 9:50
01[14:01] {&Threei}  are you in control of your own actions or someone else?
01[14:01] {&Threei}  what not reallY?
01[14:01] {&Threei}  how could you miss 9:32 alert then?
[14:01] {nemo} you need an exorcist, dp?
[14:02] {Les} GDX vad break of .40?
[14:02] {dptl} :) sometimes i think i am
01[14:02] {&Threei}  I'll take it Les
01[14:02] {&Threei}  time of the day is not very compelling
01[14:02] {&Threei}  but setup is too good
[14:04] {dptl} ok in GDX since set up is so good
06[14:04] * Les slaps dptl around a bit with a large trout
01[14:04] {&Threei}  oh thank you for this favor
[14:04] {dptl} lol
[14:04] {Les} something aobut smart ass I remember
01[14:05] {&Threei}  the difference is, I am positive for the day and in profit preservation mode
01[14:05] {&Threei}  so I can take setups that I like within my risk management parameters
[14:07] {jdetente} stop on CAT
[14:08] {dptl} ye, i am just getting more and more confused, kind of mad, and confedence i once had , gone somewhere.....may be need another break, again
[14:08] {dptl} or exorcist lol
01[14:09] {&Threei}  can you get back to what once helped you restore confidence, namely: following room setups only?
[14:09] {dino} relax dp, just stop banging your head against the wall
[14:09] {+cc_9} GDX @ lows, what a dog
01[14:09] {&Threei}  I've no ideas what you are confused about, you seem to confuse yourself
[14:09] {dino} inactivity curse
01[14:10] {&Threei}  you start playing room setups only, have a few great days, start feeling cocky and start trading everything in sight
[14:10] {dino} you need to know how to it on your hands so you don't btrade just to trade
01[14:11] {&Threei}  "when we achieve success we tend to stop doing what made us successful in a first place"
01[14:11] {&Threei}  and to add: this summer seesaw is the worst possible time to push this hard
[14:21] {Les} setup a paper screen and save the badgering from Vad. When you're consistently profitable then take it live dp
[14:22] {Les} When we plunge I do well on my own
[14:22] {Les} but this topping shit smacks me silly
[14:22] {Les} grind, indecision, whatever it is
[14:22] {Les} this market is doing here
[14:23] {dptl} out gdx
[14:24] {Les} http://www.youtube.com/watch?v=iszwuX1AK6A
[14:24] {Alexs} what stop on GDX Vad?
01[14:25] {&Threei}  standard, .50
[14:25] {Alexs} ty
[14:25] {Les} Wall St bad boys again
[14:26] {+cc_9} GDX : eyes on ABX / GG / NEM
[14:26] {+cc_9} no follow through, just dead cat from LOD
[14:26] {Les} GLD might give u want u want here cc
[14:27] {Les} hoping its not the case
[14:28] {jdetente} you're still long GDX cc?
01[14:29] {&Threei}  GLD, SLW, ABX drop
[14:29] {Les} die GLD
01[14:29] {&Threei}  GDX sits right on day low
01[14:29] {&Threei}  and makes new one
[14:29] {Les} added a little
01[14:29] {&Threei}  if this is not a good short setup, I don't know what is
[14:30] {dptl} and i got out.....speechless
[14:30] {jdetente} why did you make your own stop DP?
06[14:31] * Les slaps dptl around a bit with a large trout
[14:31] {Les} for good measure
[14:31] {Les} shit why didn't i short gld too
01[14:32] {&Threei}  Les... was there any setup for shorting?
01[14:32] {&Threei}  I don't see any
[14:33] {Les} I'm a vwap fly vad
[14:33] {Les} but u r right
[14:33] {Les} swift drop doesn't cut the jib
01[14:34] {&Threei}  just want to remind, not every move can be exploited
01[14:34] {&Threei}  some can be read, some can't
[14:34] {Les} yeh slowly learning to seperate opinion on market move and setup to safely trade it
01[14:34] {&Threei}  yup... piece by piece, puzzle clicks together
01[14:35] {&Threei}  you can see all around us what happens to those who trade on opinions
01[14:36] {&Threei}  saw a collection of quotes from each and every thinkable source explaining why gold must go up from here?
[14:36] {jdetente} opinions are like...well you know the rest
01[14:36] {&Threei}  yeah
[14:36] {Les} not really jd
[14:36] {Les} Peter Brandt coined it well
[14:36] {Les} will look for the post
[14:36] {jdetente} do I need to spell it out
[14:36] {Les} no, but I can see when IWM is potentially topping out
[14:37] {Les} but too many times I've been stopped by .10 for lack of solid setup
[14:37] {Les} and then it drops
01[14:37] {&Threei}  and the kicker is, when gold drop to 1K and under, think they'll get it?
01[14:37] {&Threei}  nope, they will write it off as manipulation
[14:37] {Les} yeh Jesse still going on about it
01[14:37] {&Threei}  and sinclair
[14:37] {Les} destroying many a little guy inthe process
01[14:37] {&Threei}  and all gold sites
[14:38] {Les} dunno bout other gurus switched off to it
01[14:38] {&Threei}  well, sinclair called gold 50,000 recently
01[14:38] {&Threei}  not 5
01[14:38] {&Threei}  50
[14:38] {Les} act of god stuff
01[14:38] {&Threei}  K
01[14:38] {&Threei}  per ounce
01[14:38] {&Threei}  sigh
[14:38] {Les} yeh the world will end
01[14:39] {&Threei}  "central banks hate gold"
[14:39] {Les} just looking at preview of Zombie movie with brad pitt
01[14:39] {&Threei}  sure, that's why they are the biggest holders of it
[14:39] {Les} end of times stuff seems to be the rage
[14:39] {jdetente} everyone loves zombie
[14:39] {jdetente} s
[14:39] {Les} speaks of an anguish jd
[14:39] {jdetente} like gold
[14:40] {Les} curious as to it as a social phenomen
01[14:40] {&Threei}  I just want nemo to be in Victoria when zombie apocalypse comes
[14:40] {jdetente} yeah Les I don't get the zombie fascination
01[14:40] {&Threei}  1:1 GDX
[14:40] {Les} .31 half cover
01[14:41] {&Threei}  play by the book, stop to .41
01[14:41] {&Threei}  and let's see if we can get some good old panic
01[14:41] {&Threei}  nemo, you here?
[14:41] {Les} gld presents itself here
01[14:42] {&Threei}  jd... but do you get vampire vraze? I mean Buffy was all the rage :)
01[14:42] {&Threei}  craze too
01[14:43] {&Threei}  Mother claims self-defense for trying to kill 3-month-old
01[14:43] {&Threei}  sounds about right... very plausible
[14:44] {jdetente} good 'ol Buffy
[14:44] {dino} buffy was hot!
01[14:44] {&Threei}  there... you just secured dino as your best friend
01[14:44] {&Threei}  there!! :)
[14:44] {+cc_9} GDX disaster trade for me today on long side
[14:44] {dino} she was awesome in cruel intentions
[14:44] {+cc_9} did not think it would keep flushing...but that;s what happens when people dump gold and gold miners have no biz left
01[14:45] {&Threei}  I believe many of them will be out if business before it's over, cc
01[14:45] {&Threei}  it will get much much worse for them before it gets any better
[14:45] {+cc_9} ABX GG NEM clobbered
01[14:46] {&Threei}  so, you thought that gumgate story was werid?
01[14:46] {&Threei}  TACOMA, Wash. — A Puyallup woman was arraigned Monday in Pierce County superior court for allegedly trying to kill her 3-month-old baby because she believed the baby was trying to kill her.
[14:47] {jdetente} the woman was probably using bath salts or some other hallucinogen
01[14:48] {&Threei}  Will, who would have thought Royasl BC Museum had sense of humor:
01[14:48] {&Threei}  https://pbs.twimg.com/media/BNDTq-XCQAEy_TA.jpg:large
[14:49] {Will49} good one, eh?
[14:49] {RonS} (or be one hot piece of tail)
[14:49] {Will49} can't take dp in there :)
01[14:49] {&Threei}  lol
[14:50] {dptl} lol
[14:50] {Will49} good one ron
01[14:55] {&Threei}  .30 forms next trigger for GDX
01[14:55] {&Threei}  nice consolidation
[14:56] {+cc_9} no money flow in gold miners, absolutely none
01[14:56] {&Threei}  SLW probs day low
01[14:56] {&Threei}  nope
01[14:56] {&Threei}  ABX looks a tad better but downticks as well
01[14:56] {&Threei}  overall, I find SALW a better leader for GDX
01[14:56] {&Threei}  SLW
[14:57] {jdetente} shorting GDX...have to love it
01[14:57] {&Threei}  my Fur Boots song :)
[14:57] {jdetente} warms the cockles of my heart
01[14:57] {&Threei}  lol
01[14:58] {&Threei}  gold losing April lows an d triggering next cascade move is what promises to make our summer fun
01[14:59] {&Threei}  look how close it is...
01[14:59] {&Threei}  within spitting distance
[14:59] {jdetente} sure is
01[15:00] {&Threei}  New car sales across Europe fall to lowest levels in two decades
01[15:01] {&Threei}  come on Les, be a good sport... buy maseratti or something
[15:01] {Les} come on Vad, be a good sport... make my year in GDX
01[15:01] {&Threei}  easy...
01[15:01] {&Threei}  short gold
[15:02] {Les} red flag
01[15:02] {&Threei}  cover anywhere between 1000 and 600 in portions
01[15:02] {&Threei}  retire
01[15:02] {&Threei}  make it your Paulson trade
[15:02] {Les} checking the setup
01[15:03] {&Threei}  in two senses... a) repeat his short housing trade that made him famous
[15:03] {jdetente} shorting gold long term is tempting
01[15:03] {&Threei}  and b) go against him on his long gold which will destroy him
[15:03] {Les} ok, new setup with gold futures close below 1360 would get that ball rolling
[15:03] {Les} stop above 1400
01[15:03] {&Threei}  I liked short around 1400 the most
01[15:04] {&Threei}  into bounce
[15:04] {Les} yeh yeh
[15:04] {Les} bit late now
01[15:04] {&Threei}  probably
[15:04] {Les} break below 1360, with stop above the high of the bounce tight r/r
[15:05] {Les} bounce in hourly time frame
[15:05] {Les} http://www.finviz.com/futures_charts.ashx?t=GC&p=h1
01[15:05] {&Threei}  I loved one argument suggested by goldbugs recently,
01[15:06] {&Threei}  referring to huge denand in chinca where people bought physical gold in droves, about 300 mln buyers
01[15:06] {&Threei}  If I ever saw the best bearish argument, this must be it!
01[15:06] {&Threei}  300 mln winners?
01[15:06] {&Threei}  yeah, that's how market works
[15:06] {Les} TZA got away
01[15:07] {&Threei}  (that was sarcasm)
[15:07] {Les} lol
[15:07] {+cc_9} Miners trying a little here last hour
[15:08] {Les} wanted to suggest possible cultural attachment to gold the chinese have, but so many variables in China it defies simple answer
01[15:09] {&Threei}  oh btw
01[15:10] {&Threei}  they bought it as a result of govt action, big discount on spot prices
[15:10] {Les} lol
01[15:10] {&Threei}  yup, caring and gentle govt decided to make 300 mln billionares
[15:10] {Les} must be a good thing
[15:11] {jdetente} jeez
01[15:11] {&Threei}  how can anyone consider this a bullish development is beyond me
[15:11] {jdetente} benevolent
01[15:11] {&Threei}  but hey, it's those dame people who say inflation is good for gold price, and deflation is... guess what? yes, good for gold price
01[15:11] {&Threei}  same
[15:21] {Les} http://online.wsj.com/article/SB10001424127887324021104578552930613288170?mg=reno64-wsj.html?dsk=y
[15:21] {Les} finally, swiss politicians prepared to tell Washington to go jump
01[15:22] {&Threei}  about deer, take a look guys... midday, Fort Str, one of fairly busy normally: http://sphotos-e.ak.fbcdn.net/hphotos-ak-ash4/1000167_616093215077021_1639382390_n.jpg
[15:24] {jdetente} dangerous
01[15:24] {&Threei}  very, a lot of accidents
[15:24] {jdetente} when I was kid my Mom hit a deer on a mountain road
[15:24] {jdetente} jumped out from the hillside
[15:24] {dino} they hit them up here every day
[15:24] {RonS} so, how's Dad doing?
[15:25] {jdetente} haha wha??
[15:25] {RonS} Dad=dear...oh, deer....
[15:25] {jdetente} no, I get
[15:26] {jdetente} F+ :)
[15:26] {RonS} lol
[15:28] {jdetente} alright GDX it's time for you to roll down that hill and into the ocean
[15:29] {jdetente} with lead boots on
01[15:29] {&Threei}  lol
[15:29] {_jackindbox} or cement shoes
[15:29] {Les} GLD popping
01[15:29] {&Threei}  cement will do too
01[15:29] {&Threei}  high five jack
[15:29] {jdetente} love your commercials Jack
[15:30] {_jackindbox} HIGH 5
[15:30] {jdetente} http://www.youtube.com/watch?v=m5iWXv-rtVQ
01[15:38] {&Threei}  Honda Motor Co. Ltd Being sued by US govt over off-road engine emissions, US seeking $14.2B in damages plus engine modifications - financial press- Follow up: Honda agrees to settle the lawsuit and pay $580K to settle the nonroad-engine lawsuit, without admitting liability
[15:39] {dino} legal extortion
01[15:39] {&Threei}  yup
[15:40] {Les} funny was reading somethign similar about Google payout to govt
[15:41] {Les} http://www.sfgate.com/news/article/The-Amazing-Government-Sting-That-Cost-Google-2686421.php
[15:42] {Les} Uncle Sam works with convicted federal prisoners now to sting US corporations
[15:42] {nemo} I like this one:  http://widget.newsinc.com/_cfvp/playlist16x9_player.html?CID=504&WID=10998&VID=24888900&freewheel=45981&sitesection=sfgate_nws_biz_fro&external_url=http://www.sfgate.com/news/article/The-Amazing-Government-Sting-That-Cost-Google-2686421.php
[15:49] {Les} all out and outta here c u's tomorrow
[15:49] {Les} decent day given the sluggishness
01[15:49] {&Threei}  take care les
[15:49] {Les} god bless GDX
01[15:50] {&Threei}  lol
01[15:50] {&Threei}  is this a first time in ETF history that one of them gets blessed?
[15:52] {jdetente} alright GDX you're off the hook. Gotta run. Thanks Vad. See everyone tomorrow.
01[15:52] {&Threei}  you too jd
[15:52] {Will49} peace jd
[15:52] {+cc_9} ok folks, nasty day here
[15:52] {+cc_9} a demain
01[15:53] {&Threei}  very jellyfishy day'but we squeezed all it had I feel
01[15:53] {&Threei}  fightin' a trend, cc...
01[15:54] {&Threei}  thank you all, have a great evening
01[15:54] {&Threei}  see you tomorrow
[15:54] {Will49} over and out :)
[15:55] {dino} gn all
[15:55] {bbobr} gn