Session Time: Thu May 05 00:00:00 2011
[08:58] {nemo} Knock Knock
[08:58] {Threei} sigh
[08:59] {Threei} I kind of hoped no one would notice it's morning
[08:59] {nemo} barely...not sleeping well, so haven't got my eyelids open yet
[09:04] {Threei} davd forgot where the door is... strong case of jf-ism
[09:07] {Threei} UUP broke that 21 we spoke of yesterday
[09:08] {RonS} gm, ya the eur went from 1.484 to 1.4691 now all in an hour...must have been trichet comments
[09:09] {Threei} also, jobless claims
[09:09] {RonS} good point...but would not more jobless equal weaker dollar as it keeps pressure on ben to remain loose?
[09:10] {Threei} that was the logic of late, buit it seems to unravel
[09:10] {dino} gm all
[09:11] {Threei} dino :)
[09:11] {RonS} guess it is a flight to safety as the risk off trade goes away as the realization is that stagflation is here
[09:11] {davd} gm all
[09:11] {Threei} aside of this line of thinking, there is also "safe heaven" one,
[09:11] {Threei} exactly ron, just what I started typing
[09:11] {Threei} davd :)
[09:11] {davd} safe haven or heaven
[09:11] {Threei} haven, lol
[09:12] {davd} i didnt see the beginning of the conversation, so didnt want to be confused all day
[09:12] {Threei} link between brain and fingers that has never been very string becomes especially loose early morning
[09:12] {Threei} string = strong
[09:12] {RonS} wfmi had april same sotre sale up 8% but i wonder how much of that is pure inflation
[09:12] {RonS} store
[09:13] {_rizvisy1} gm everyone
[09:13] {Threei} riz :)
[09:13] {_rizvisy1} gm dav
[09:13] {RonS} nice work on the trade of the day 3i...btw
[09:13] {davd} wfmi at 50% of last eve spike
[09:14] {Threei} ty kind sir
[09:14] {Threei} (GR) ECB Trichet: Greek debt restructuring is 'not in the cards'
[09:14] {Threei} hey, give this man a new deck someone
[09:15] {davd} in the same vein of food cost - grains etc... down to late march levels, ie next qtr earnings may reflect higher margins as applicable
[09:16] {davd} 3i - thoughts on first 30 minutes of market?
[09:16] {davd} prep for standard self deprecating statement
[09:16] {Threei} my inclination is to short bounces
[09:16] {Threei} rofl
[09:16] {davd} oohh i stand corrected
[09:16] {Threei} no, it's coming
[09:17] {Threei} it's just that I was going to make that comment anyway
[09:17] {larisa} gm :)
[09:17] {Threei} larisa :)
[09:17] {Threei} so... shorting bounces as first thing is on my mind,
[09:17] {larisa} vad :)
[09:17] {Threei} but I most likely will have to skip first minutes,
[09:18] {Threei} gap down is significant, and volatility of first opening moves may be beyond controllable
[09:18] {davd} why, do you have to flip the bacon?
[09:19] {Threei} kidding? flipping bacon myself is not what I got married for
[09:19] {Threei} now, you know that the depth of thinking in these lines is way above what I am normally capable of, which means I exhausted my thinking capacity for the day,
[09:20] {Threei} so from now on expect my comments to come to "ugh," "ah" and "grr"
[09:20] {davd} actually, my deal is - i do bfast, she does everything else.
[09:21] {Threei} keep UUP somewhere on the screen today, I strongly suspect a lot of moves today will be dictated by it
[09:22] {RonS} mos touched its 200 day ma yesterday...whatever that means
[09:23] {dino} below gaps, ndx 2351, 2306; s/p 1335, 1330, 1312
[09:24] {Threei} RIMM stays arounf flat/slightly green despite market gap down
[09:25] {Threei} US) Fed's Bernanke: Does not comment on economic outlook, monetary policy
[09:25] {Threei} hmmm
[09:25] {Threei} ok... whatever... life is too short
[09:26] {Threei} let's keep an eye on RIMM
[09:26] {Threei} possible long candidate
[09:27] {Threei} (PO) Portugal Banking Assoc head: Banks are unlikely to require funds from bailout
[09:27] {Threei} uhhu
[09:27] {jfjf64} mornin all
[09:28] {Threei} jf :)
[09:28] {Threei} ese is fast asleep after yesterday's performance
[09:29] {Threei} everyone studied yesterday's catch of the day?
06[09:29] * Threei unbuttons the gun holster
[09:31] {jfjf64} yes
[09:31] {jfjf64} nicelly done
[09:31] {Threei} Long Setup: RIMM .25 break half lot
[09:31] {Threei} if stays above .10
[09:31] {Threei} high risk
[09:32] {Threei} invalidated
[09:32] {Threei} watching for better entry
[09:33] {jfjf64} anyway you cd do in pdf form would like to print out make book of
[09:33] {Threei} some day I'll turn them into course, possibly in video format
[09:33] {jfjf64} catch of day
[09:34] {Threei} Short Setup: SLW 36 break
[09:34] {Threei} half out
[09:34] {Threei} stop .05
[09:35] {Threei} RIMM got away
[09:35] {Threei} SLW 1/4 more out
[09:35] {Threei} stop .01
[09:35] {jfjf64} nice slw
[09:35] {jfjf64} ty
[09:35] {Threei} out in full
[09:36] {Threei} SLW short as a first trade of the day... hnow original and unexpected
[09:37] {Threei} note that UUP upticks sent it down
[09:37] {Threei} ugh, missed RIMM entry completely
[09:38] {Threei} OK, another SLW short coming up
[09:39] {Threei} Short Setup: SLW .25 break
[09:39] {Threei} stop above .35
[09:39] {Threei} 1;1
[09:39] {Threei} stop to .31
[09:40] {Threei} scalpers win this time
[09:40] {Threei} Short Setup: RIMM .60 break
[09:41] {Threei} if stays under .70
[09:41] {Threei} invalidated
[09:41] {Threei} Short Setup: RIMM .70 break
[09:42] {Threei} if stays under .80
[09:42] {Threei} target about .40, 3 partials
[09:44] {Threei} holding a bit too well for my taste...
[09:44] {nemo} yeah, I was out .67
[09:44] {Threei} no faith whatsoever
[09:45] {nemo} to much buying
[09:45] {nemo} if it drops .65 I'm in, I was short from .73...75 was pivot
[09:46] {Threei} stop to .76
[09:46] {Threei} out
[09:48] {nemo} this is the level rimm
[09:48] {Natali} gm:)
[09:48] {nemo} bids stepping up, it's sstrong right now
[09:48] {Threei} natali :)
[09:49] {dino} regn sm l .95
[09:49] {dino} wlk sm l .65
[09:50] {Threei} FCX
[09:50] {Threei} see if bounces into .50
[09:50] {Threei} here it is
[09:50] {Threei} short half lot
[09:50] {Threei} stop above .60
[09:50] {Threei} no go
[09:50] {davd} dollar continues to strengthen. well above 5 day high
[09:51] {Threei} yeah, that 21 level was critical
[09:51] {Threei} Short Setup: FCX .80 break half lot
[09:52] {Threei} invalidated
[09:52] {Threei} getting closer though
[09:52] {Threei} Short Setup: FCX 51 break half lot
[09:53] {dino} out regn .39, +.44
[09:53] {Threei} stop is obvious
[09:53] {Threei} 1:1
[09:53] {Threei} 1:2
[09:53] {Threei} out in full
[09:53] {gregns} got it ty,,
[09:54] {Threei} sure thing
[09:54] {Threei} volatility as foreseen is abnormal this morning
[09:54] {Threei} and my brain activity is way below normal
[09:54] {nemo} yes, emperor Palpatine
[09:54] {Threei} not that my normal is very high, mind you
[09:55] {Threei} and you nemo... you are guilty of mortal sin this morning
[09:55] {nemo} that being?
[09:55] {Threei} you are (gulp) THINKING
[09:55] {nemo} no, I was reading the tape
[09:55] {nemo} too much buying with the bids stepping up and the offers lifting
[09:55] {nemo} shrting a little rimm
[09:55] {Threei} man... he can read too... I feel so inferior
[09:56] {nemo} See cat run
[09:56] {jfjf64} doubting the master
[09:56] {nemo} rethinking my short here, ton of buying at .90, but if it drops
[09:56] {nemo} MEGA TON of buying
[09:57] {Threei} {nemo} rethinking
[09:57] {Threei} see?
[09:57] {Threei} thinking and, worse yet, re-thinking
[09:57] {Threei} OK, SLW
[09:57] {Threei} lower highs
[09:57] {nemo} took .81 partial
[09:57] {Threei} nope, spiked to a higher one
[09:57] {Threei} no setup
[09:58] {jfjf64} ?
[09:58] {Threei} look UUP/SLW correlation
[09:59] {davd} same - which is opposite
[09:59] {Threei} right
[09:59] {Threei} I meant, very string one
[09:59] {Threei} strong
[09:59] {nemo} gmcr
[10:00] {jfjf64} in
[10:00] {jfjf64} gmcr
[10:00] {jfjf64} s
[10:00] {davd} other factors re slow vs uup imo
[10:00] {nemo} I tried getting filled on the whole, right by
[10:00] {davd} slw vs uup
[10:00] {jfjf64} dieeeeeeeee
[10:01] {jfjf64} gmcr
[10:01] {nemo} scalpers win rimm if .96 lifts
[10:02] {dino} out wlk .ndx green
[10:02] {dino} wlk.14, +.49
[10:03] {Threei} Short Setup: X .60 break half lot
[10:03] {nemo} got gmcr break of .80
[10:03] {Threei} if stays under .70
[10:03] {nemo} took .1/2 .54
[10:03] {jfjf64} in.90
[10:04] {Threei} no go
[10:04] {nemo} watch pivot support gmcr .50
[10:04] {Threei} shaky morning... hit one miss one
[10:06] {dino} hmmm, seems i sold both way too soon
[10:13] {jfjf64} jf says fill gap gmcr
[10:13] {dino} tbl
[10:14] {dino} gap 29.65
[10:14] {Threei} Short Setup: EQR .05 break
[10:14] {Threei} if stays under .10
[10:14] {Threei} .12 stop
[10:16] {dino} kra
[10:17] {Threei} .96 half out
[10:17] {Threei} stop to .06
[10:19] {Threei} bid .86 1/4 more
[10:23] {RonS} ppo thoughts dino?
[10:24] {dino} gut says short, but not sure where
[10:25] {dino} things trades clunky
[10:25] {dino} tbl coming into gap
[10:26] {dino} ppo sm s break .00
[10:26] {dino} bstop .25
[10:27] {Threei} EQR stop to 59.01
[10:27] {dino} to flat
[10:27] {dino} cov flat
[10:28] {dino} too tight
[10:28] {Threei} 1/4 more out
[10:28] {dino} ,80 supp ppo so far
[10:28] {Threei} stress-free trade
[10:28] {dino} gj
[10:29] {Threei} ty
[10:31] {dino} celg drop
[10:34] {RonS} celg hearing db neg comments
[10:36] {dino} ty
[10:38] {dino} tbl gap fill
[10:39] {dino} sm l .55 tbl
[10:40] {dino} stop is .47
[10:41] {dino} stop -.08 will re-load lower
[10:42] {Threei} done with EQR
[10:45] {dino} tbl sm l .50
[10:47] {dino} stop is .24, brb
[10:53] {Threei} was watching CAT for short near .50
[10:54] {Threei} darn thing dropped faster than I could determine any kind of trigger
[10:56] {RonS} oil futes at 103.85
[10:59] {RonS} tbl taken to woodshed...:P
[10:59] {RonS} ...coming into corn season...:)
[11:00] {dino} rinsed me twice
[11:01] {RonS} got it for .25....20 to .45
[11:02] {RonS} think i am done w/ it...these have been brutal of late
[11:03] {Threei} Short Setup: SLW 36 break
[11:03] {dino} brutal, but profittable
[11:03] {dino} would like a pullback to .50s
[11:05] {Threei} stop is too obvious, I wn't insult your intelligence
[11:05] {Threei} not a scalp
[11:06] {Threei} 1:1, galf out
[11:06] {Threei} half too
[11:06] {Threei} stop to .05
[11:07] {dino} dji falling
[11:08] {RonS} the big bid shook me out but got .02 to .90 +.12 thanks 3i
[11:08] {Threei} welcome...
[11:08] {Threei} but come on...
[11:09] {Threei} since when we trade on level 2
[11:09] {Threei} 1:2
[11:09] {Threei} 1/4 more out
[11:09] {Threei} stop to 36.01
[11:10] {Threei} (EU) ECB's Trichet reiterates that the crisis is not over, depending on Finland to make the right decision on EFSF
[11:10] {dino} tbl sm l .40
[11:11] {Threei} really? EU crisis resolution deoends on Finland?
[11:11] {Threei} I say EU is deader than deadest of the dead
[11:11] {Threei} one more headline competiong for the Daily Dose of Idiocy Award:
[11:11] {Threei} Netflix Inc Ticks higher on circulation of financial press blog makes a case for why Amazon should consider buying NFLX
[11:12] {Threei} SLW 1:3
[11:12] {Threei} trailing, not covering
[11:12] {Threei} 1:4
[11:13] {dino} wlk sm l .64
[11:13] {Threei} 1:5
[11:13] {Threei} out almost all here, 100 shares left
[11:13] {RonS} oil down $7 now to 101.45
[11:13] {Threei} stop to .85
[11:14] {dino} main drop
[11:15] {dino} main sm l .91
[11:16] {dino} bit of chaos today
[11:16] {Threei} true
[11:17] {Threei} done with SLW
[11:17] {Threei} this one solidified day ad profitable
[11:17] {Threei} as
[11:18] {dino} out main .29, +.38
[11:20] {dino} rht spike
[11:34] {dino} hrs sm l .11
[11:38] {dino} out wlk .05, +.41
[11:40] {Threei} Research in Motion Ltd Strength attributed to circulation of financial press column making a case for why MSFT should consider buying RIMM- Toronto Globe and Mail tech column suggest MSFT/RIMM merger could target competition with Apple.
[11:40] {Threei} lol
[11:40] {dino} old one
[11:40] {Threei} hard to believe someone could go ahead and buy on that
[11:42] {RonS} kra gonna go for a gap fill dino?
[11:42] {Threei} then again, I couldn't believe someone could vote for tree-hugging hippie with love for marijuana either, but that's who we elected
[11:43] {dino} ron, maybe, report was ok from what i read
[11:44] {dino} but chems have been bloodied on good reports last few days
[11:48] {RonS} snagged .45 on kra thanks dino
[11:49] {dino} gj
[11:50] {Threei} nice
[11:59] {RonS} eur 145.77
[11:59] {RonS} -.03 on the day
[12:00] {RonS} meaning from 148.75
[12:05] {Threei} AIG AIG execs and US Treasury at loggerheads on deal pricing, treasury looking for price near the current price, advisors seeking a lower price - CNBC's Kelly
[12:06] {dino} out tbl .80, +.40 got lucky
[12:09] {RonS} dang it dino look recovery in meli
[12:10] {dino} wow
[12:11] {dino} pulp
[12:14] {dino} dgit?
[12:14] {dino} beats by .14
[12:15] {dino} sm l .04
[12:18] {Threei} riz, look dcc
[12:20] {_rizvisy1} dcc?
[12:20] {_rizvisy1} lol
[12:21] {_rizvisy1} just sleepy late night movie
[12:22] {Threei} private message
[12:24] {dino} lol
[12:42] {Threei} (US) US Senator Kyl (R-AZ); Talks on deficit with VP Biden went 'great'
[12:42] {Threei} I am so happy for them
[12:49] {dino} roflol
[13:04] {Threei} did I read this right
[13:04] {Threei} UN human rights commissions questions whether US killed Bin laden legally
[13:04] {Threei} where the f**k is the bulldozer?
[13:07] {RonS} guess holder needs to get prosecutin...
[13:07] {Threei} how come that building is still standing
[13:08] {RonS} graft, etc
[13:09] {dino} should have buried him in a pig carcass
[13:15] {RonS} dg may be a fast channel but it's a hypnosis stock...
[13:15] {dino} dog
[13:15] {dino} should've took .44
[13:15] {dino} gut said .60s
[13:22] {davd} nemo what do you have as vwap 134.72?
[13:22] {nemo} on what, spy or spx?
[13:23] {davd} spy re freestocks...
[13:23] {nemo} 134.28
[13:24] {davd} ah 1 day 3 minutes?
[13:25] {nemo} sub 1 day, that's what it's calculated on, intraday
[13:25] {nemo} moving vwap is something else
[13:26] {nemo} you can measure vwap for multi-day trading for that
[13:27] {Threei} I just tried to measure the depth of my coma
[13:27] {Threei} guess what
[13:27] {Threei} could find no bottom
[13:27] {dino} out dgit .34, +.30
[13:32] {Threei} (IR) Ireland PM Kenny: It is possible for Ireland to avoid a debt restructuring
[13:32] {Threei} and for 1000 monkeys to type out World and Peace
[13:34] {dino} well anythings possible
[13:36] {RonS} ya know...when the irish came to the US they were charcterized as monkeys...
[13:36] {Threei} sure... I tried to put snowballs in the oven... and guess what - on 114th try power went out
[13:36] {Threei} so it did survive
[13:37] {RonS} ...and from the pictures, it was warranted...
[13:37] {dino} hey, you're talking to a mc' here
[13:38] {dino} and a pretty good looking one at that i'm told
06[13:38] * Threei envisions magoo in tutut
[13:39] {Threei} oh my retina...
[13:39] {dino} nasty
[13:40] {RonS} 1/4 irish here...a finn, as in Mickey...
[13:51] {Threei} (US) Fed's Kocherlakota: Economic recovery would be stronger with more strength in construction
[13:51] {Threei} genius
[13:51] {Threei} and I would be more bus-like looking should I have wheels attached
[13:52] {Threei} - Fair valuation of Chinese Yuan is complicated.
[13:52] {RonS} sorry...but...and a tailpipe sticking out your rear...
[13:53] {Threei} price movie tickets then, should be simpler
[13:53] {Threei} - Fed cannot respond to monthly changes on inflation; Rising oil prices have weighed on consumer sentiment
[13:53] {Threei} Have Market Intel? TradeTheNews.com Tip Line -} Click Here
[13:53] {Threei} you don't say
[13:54] {RonS} out dgit .52 +.37
[13:57] {RonS} wow...oil now 100.75
[13:58] {RonS} 'nother wow, eur at 1.4560
[13:58] {Threei} - Markets have faith in US treasuries, encouraged by seriousness of deficit discussions in Congress
06[13:58] * Threei faints
[13:59] {nemo} that's frickin' disgusting
[13:59] {Threei} how delusional these folks can be?
[13:59] {nemo} talking points
[13:59] {nemo} they know the pooch has been screwed
[13:59] {Threei} they even met the pooch
[13:59] {RonS} lol...woof
[14:08] {Threei} USD is amazing today
[14:08] {RonS} oil trying a bounce from 100.08...
[14:08] {Threei} that 21 was as clear long trigger as they get
[14:11] {RonS} oil bounce fail below 100 now
[14:11] {gregns} SLW break of lod?
[14:11] {dino} dgit hits the .60s w/o me
[14:11] {Threei} I think so greg
[14:11] {RonS} x 46 break short?
[14:11] {Threei} it's fully USD play at this point
[14:12] {Threei} not on its own chart
[14:12] {Threei} look at this UUP spike and corresponding SLW breakdown
[14:27] {RonS} oil now 99.58
[14:33] {Threei} Qatar Oil Min: There are no issues with the supply of oil; supplies are healthy
[14:33] {Threei} as opposite to sick
[14:34] {RonS} gmcr looks to be angling for a gap fill...prob not today
[14:45] {RonS} slap me upside the head...why have i not been looking at the airlines?
[14:48] {dino} slap me on dgit ron, thing went a buck
[14:48] {jfjf64} gmcr
[14:48] {jfjf64} lod
[14:49] {RonS} dgit murphy stock...had we stayed in it woulda crashed
[14:50] {Threei} SLW death was horrific
[14:50] {gregns} anybody got SLW , VAd?
[14:51] {Threei} I don't know greg... I don't have an access to accounts of everyone else... :)
[14:52] {RonS} oil now 99.22
[14:52] {RonS} .05
[14:53] {RonS} went to 98.80 and tryin a bounce
[14:53] {RonS} down $10
[14:53] {Threei} canadian dollar is a beauty today
[14:53] {Threei} down full cent
[14:53] {Threei} may I have two months of this?
[14:54] {RonS} 98.72
[14:58] {dino} ironic how everybody complains when us dollar falls, but when yours drops you like it
[14:58] {nemo} he trades in $s
[14:58] {Threei} how could I not
[14:58] {Threei} I trade in USD
[14:59] {Threei} I live in CDN
[14:59] {Threei} what I earn I have to convert
[14:59] {Threei} USD drops as it does, CDN goes from 0.8 to 1.05
[14:59] {Threei} want to do a math how mkuch my pay gets cut?
[15:00] {Threei} believe me, it's much more immediate impact than inflation has on you who trades and lives in USD
[15:00] {dino} i understand. just everybody wants theres weaker in comparison to usd
[15:00] {RonS} 98.48
[15:01] {Threei} I will be fine with balance - but taking a 30% cut over a course of months, show me how many can sustain that
[15:04] {jfjf64} nvls s .20
[15:06] {jfjf64} dieeeeeeeeeeeeee
[15:06] {Threei} wow
[15:11] {Threei} what the deuce
[15:11] {Threei} no news
[15:14] {Threei} SLW bounce scalp
[15:14] {Threei} ugh, don't chanse
[15:14] {Threei} .40 break was it
[15:14] {RonS} huge buyers showing up in es nq futes
[15:14] {RonS} 2.0 mil contracts in es, 720k in nq...they could get overwhelmed
[15:14] {RonS} ...order flow is going aganist them
[15:15] {Threei} 1:1... crap
[15:15] {jfjf64} rats
[15:15] {Threei} SLV Spot silver extends decline below $35/oz
[15:16] {Threei} 1:2, double crap
[15:16] {jfjf64} double rats
[15:16] {RonS} got .43 to .59 thanks 3i
[15:16] {Threei} wtg
[15:16] {Threei} 1:3 - triple
[15:16] {dino} 1335 gap filled
[15:16] {Threei} I myself missed it typing, lol
[15:17] {dino} markets really fell off, news?
[15:18] {RonS} the markets should have been selling off all day w/ what happened in oil, metals and the $
[15:19] {RonS} .spx should be down +20...
[15:19] {dino} uso gap 36.48 area
[15:23] {RonS} gmcr breaking into gap
[15:24] {dino} s/p -2.8% from week high
[15:24] {dino} looks like i am going to miss some fun tomorrow
[15:25] {Threei} what's tomorrow?
[15:25] {dino} golf tourny
[15:27] {Threei} CME temporarily extends crude oil futures limit down from $10 to $20 - CNBC
[15:27] {Threei} - Because futures closed near the limit down of $10, CME says it will extend the limit down for the rest of today's electronic session. Will revert back to a $10 limit down tomorrow.
[15:28] {RonS} wow...are these guys political or what? silver margins, now this
[15:28] {Threei} I am not sure I get the logic of this
[15:28] {Threei} but whatever
[15:28] {dino} socking it to the speculators, changing the rules during the game
[15:28] {Threei} their thinking is beyond rational
[15:28] {RonS} 'cause the guvmint and ben ant oil down
[15:28] {RonS} want
[15:28] {dino} yes
[15:29] {Threei} well... I do too :)
[15:29] {dino} game remains rigged, just like random halts
[15:29] {Threei} in fact, $3 per barrel seems about right to me
[15:29] {dino} and they say market manipulation does not happen, lol
[15:29] {RonS} back to the '60's
[15:29] {Threei} but they say it's us dino
[15:29] {Threei} I say it's them
[15:29] {dino} last drop was 35 or so ron
[15:30] {dino} it is them, ie govt
[15:30] {dino} scanners solid red for minutes, unusual
[15:30] {_rizvisy1} only TZA is shootin star
[15:31] {dino} reminds me of the govt blaming thecshorts in '08, now its the lonfgs on commodities
[15:31] {Threei} of course... TZA is inverse
[15:31] {jfjf64} joke
[15:31] {dino} in any case, imagine a lot of margin calls starting
[15:32] {Threei} I feel all warm and fuzzy imagining that
[15:33] {dino} back in ten or so. want to see how this closes
[15:33] {dino} gut says retail benefits as well as restaurant chains from this drop
[15:33] {davd} airlines, fedex benefit
[15:34] {dino} y
[15:51] {Threei} weak bounce into close
[15:51] {Threei} unimpressed
[15:51] {Threei} this seloff is far from over I suspect
[15:52] {RonS} nfp in the a.m.
[15:54] {Threei} ok guys, thaank you aall
[15:54] {Threei} have a good evening, see you tomorrow
[15:54] {jfjf64} ty
