RealityTrader Trading Log

Friday, August 26, 2011

Aug 26 2011

After a nice winning streak, a day when you can't trade your way out of wet paper bag should come. Mine came today. Shrug. New week, new opportunities.

A few quotes from A Taoist Trader over nearest days, first today:

http://on.fb.me/oAWFHJ

Session Time: Fri Aug 26 00:00:00 2011
[08:54] {Threei} LOL... "Bank of America has two problems. First, it's a bank. Second, of America"
[08:57] {nemo} http://online.wsj.com/article/SB10001424053111904787404576530520471223268.html
[09:02] {Threei} total Wonderland
[09:03] {RonS} gm...when the citizenry is brutalized as criminals they will become criminals...
[09:04] {Threei} so true ron
[09:04] {Threei} I know that better than most, having witnessed firsthand whole country population made criminals
[09:11] {dino} gm all
[09:13] {Threei} dino :)
[09:18] {Threei} am I still allowed to quote myself?
[09:18] {Threei} A Taoist Trader accepts the unwelcome and welcomes the unexpected
[09:18] {Threei} if not, boohoo - I just did
[09:21] {RonS} neal sedaka song?
[09:21] {RonS} "it's my party"
[09:21] {dino} who is this taoist trader you speak of? :D
[09:21] {Threei} how would I know
[09:21] {Threei} not that I ever met him
[09:25] {gen} gm everybody
[09:25] {gen} :)
[09:25] {larisa} gm :)
[09:25] {Threei} gen, larisa :)
[09:31] {Threei} Short Setup: FCX .10 break
[09:32] {Threei} stop above .20 or .25
[09:32] {Threei} bith are valid
[09:32] {Threei} both too
[09:34] {Threei} no go
[09:34] {nemo} ow
[09:34] {nemo} jumped my cover out .33
[09:41] {Threei} things are jumpy and unsettled
[09:41] {Threei} no clear setups
[09:42] {nemo} probably stay that way with the Jhole stuff Friday and the hurricane
[09:42] {dino} jackson hole at 10:00
[09:42] {Threei} SLW spread is still wide
[09:44] {Threei} Long Setup: SLW .30 break
[09:44] {Threei} if stays above .15
[09:45] {Threei} invalidated
[09:45] {RonS} ...guess patience got capped...
[09:46] {patience} good morning
[09:47] {Threei} morning
[09:48] {Threei} Short Setup: RIMM .40 break
[09:48] {nemo} took it long .41
[09:49] {nemo} 1/2 .50
[09:49] {Threei} still valid, IMO
[09:49] {nemo} .42 bid
[09:50] {nemo} out below .42
[09:50] {Threei} invalidated
[09:50] {nemo} out .52 numbers coming
[09:50] {Threei} 5 min
[09:51] {nemo} huge sell .49 see if .42 bidder shows up
[09:51] {Threei} valid again
[09:52] {Threei} .50 break was better idea in rertospect
[09:52] {Threei} missed FCX .40 break
[09:52] {Threei} grrr
[09:54] {nemo} what a chopfest
[09:54] {Threei} no kidding
[09:55] {Threei} *(US) AUG FINAL UNIVERSITY OF MICHIGAN CONFIDENCE: 55.7 V 55.8E
[09:56] {nemo} bfd
[09:57] {pragmatic} who is Ben Bernanke ?
[09:57] {nemo} Hed of The Fed
[09:57] {nemo} Federal Reserve
[09:58] {Threei} He Who Prints the Money
[09:58] {pragmatic} the mesage just popped on Laser
[09:59] {dino} think they are looking for galt
[10:00] {Threei} *(US) FED CHAIRMAN BERNANKE: WILL DO WHAT IS NEEDED TO ASSIST RECOVERY - JACKSON HOLE SPEECH
06[10:01] * pragmatic what a nice red bar on spy!
[10:01] {Threei} FED POLICY CANNOT DO MUCH TO ALTER ECONOMY'S LONG-TERM TREND
[10:01] {Threei} "we are out of bullets"
[10:01] {dino} thx bernie, thought you might just stop doing anything
[10:07] {Threei} - Reiterates that the Fed possesses the tools necessary to aid the economy.
[10:07] {Threei} - Notes that Fed will meet for two days instead of one in September, to consider moves to provide additional monetary stimulus and other issues at that time.
[10:07] {Threei} - The US needs to develop better fiscal decision making processes.
[10:07] {Threei} - Pace of economic recovery has been slower than hoped, still sees better growth over the second half of 2011. The global economy is generating significant growth.
[10:07] {Threei} - Still expects inflation to be at or below target rate of 2%.
[10:08] {larisa} how come I spend 30% more on groceries buying same stuff as year ago :)
[10:09] {larisa} oh i know..
[10:09] {Threei} haha
[10:09] {larisa} my house is 28% cheaper :)
[10:09] {nemo} they don't count
[10:10] {Threei} **NOTE: Bernanke's speech lacked any mention of QE3 or "Operation Twist," potential moves to aid markets observers had been hoping for.
[10:10] {Threei} from my yesterday's prophecy:
[10:10] {Threei} Tomorrow is Jackson Hole speech, and my strong feeling is, it will be nothing but fizzle. No definite promise of QE3, no categorical denial either. We will see how good I am at prophecies :)
[10:10] {Threei} done quoting myself... for now :)
[10:12] {Threei} if anyone is interested in full text, http://www.federalreserve.gov/newsevents/speech/bernanke20110826a.htm
[10:13] {Threei} not sure why anyone wqould though
[10:14] {nemo} hehehe: spy bounced right at Semesterly S3 http://www.freestockcharts.com?emailChartID=d6110f53-0e78-456e-94f1-2131c0ba5871
[10:15] {dino} good, thats out of the way, back to work
[10:18] {Threei} Short Setup: FCX .95 break
[10:18] {Threei} if stays under .05
[10:18] {dino} slh partial fill l .45
[10:19] {nemo} vwap at .10 might go there first
[10:21] {Threei} market spike
[10:21] {Threei} not my day so far
[10:22] {dino} turn that frown upside down
[10:23] {Threei} na, no frown
[10:23] {Threei} had a good string of winning days, sooner or later it had to end
[10:23] {Threei} and there is whole day ahead still
[10:23] {dino} out slh .77 ave +.32
[10:33] {nemo} tza .01 long wow
[10:33] {nemo} 1/2 out .35
[10:33] {dino} nice
[10:33] {nemo} 1/4 more .51
[10:33] {nemo} stop .15
[10:34] {nemo} it ripped
[10:34] {nemo} target 52. 30 area
[10:34] {dino} wtfg
[10:35] {nemo} out .51
[10:35] {nemo} damn
[10:35] {nemo} volatility
[10:36] {nemo} oops
[10:37] {nemo} gawd
[10:37] {dino} sm l chk .25
[10:40] {dino} sm l infy .50
[10:43] {Threei} sheesh
[10:43] {Threei} I prepare TZA alert and keep it ready - and it moves 20 cents just as I want to hit enter
[10:44] {Threei} and while I type this, it drops 40
[10:45] {nemo} think spy wants 116.75 area
[10:46] {dino} chk to .55 infy to .80
[10:47] {dino} out chk .65, +.40
[10:47] {Threei} (US) VP Biden: US economy needs more stimulus
[10:47] {Threei} imbecile
[10:47] {dino} infy to .90
[10:49] {dino} out infy .95, +.45
[10:54] {Threei} Short Setup: FCX .30 break
[10:54] {Threei} if stays under .40
[10:56] {Threei} trail to .36
[10:57] {Threei} 1:1
[11:00] {Threei} 1:2
[11:00] {Threei} out
[11:00] {Threei} neede this win
[11:01] {Threei} (GR) Greece said to be at risk for meeting its fiscal targets for 2011 - financial press
[11:01] {Threei} lol
[11:04] {dino} shocking
[11:09] {RonS} holy smokes panl
[11:12] {dino} crazy pulp, panl
[11:15] {dino} well, another 300 pt range day
[11:17] {RonS} O's par for the course...job killing so pervasive its barely noticed anymore: http://tinyurl.com/3jl9efz
[11:18] {nemo} there's more to that story ron
[11:19] {RonS} do tell obi wan...
[11:22] {nemo} I'm trying to remember the details, but it goes back to the 2008 time period, and it's not just that act...It puts restrictions on imports also when you have strained supply...look up that act and reports around 2008...that's a bit of a slanted story
[11:22] {nemo} serves a good political purpose though
[11:26] {RonS} thanks for clearing that up
[11:29] {nemo} http://archives.hawaiireporter.com/story.aspx?ac1c3644-1128-425c-93ca-a75569efbd91
[11:29] {Threei} Short Setup: RIMM .25 break
[11:30] {Threei} if stays under .35
[11:34] {Threei} Short Setup: FCX .60 break
[11:35] {nemo} .72 is pivot
[11:35] {Threei} and .73 is high
[11:35] {nemo} yep
[11:35] {nemo} good stop
[11:36] {Threei} nope
[11:36] {nemo} and resistance from yesterday at 3ish threeish
[11:43] {nemo} wow, this volatility
[11:50] {nemo} spy walking daily pivot
[11:56] {RonS} check the hourly on the eur
[11:58] {RonS} cigx murdered on court rulings
[12:01] {dino} i don't get the euro, so strong w/countries falling apart
[12:01] {Threei} no one does
[12:01] {nemo} hope
[12:01] {Threei} one theory that I am more or less willing to subscribe to is:
[12:02] {Threei} the bet is that once it becomes inevitable, weakest members will be cut off but the union and currency will stay
[12:02] {Threei} and will become stronger for it
[12:03] {Threei} I don't think it's correct, I just acknowledge that such bet may exist and materializes in buying Euro
[12:03] {nemo} It may be people feeling there are a few more rounds left in the Musical chairs game on the decks of the Titanic
[12:04] {Threei} yeah
[12:04] {Threei} in my view, that won't work like this
[12:04] {Threei} once exodus starts, it spreads
[12:04] {Threei} contagion becomes widespread
[12:04] {Threei} and union, if survives, will consist of a few strongest countries
[12:05] {Threei} but that makes little sense,
[12:05] {nemo} purely technically, this market action is very bullish for next week
[12:05] {Threei} as the whole idea was to unitete strong producers with weaker ones, to provide them with new markets
[12:06] {Threei} strong producers united with each other - that's not what union was created for
[12:06] {Threei} I dunno nemo... look at volume
[12:08] {nemo} last week of summer on Friday before hurricane, I expect volume to be low,
[12:11] {dino} me too, leaning towards nemo
[12:14] {nemo} I would think we end up near the daily pivots today
[12:21] {dino} i'm a bit disappointed i did not catch more of this move
[12:21] {nemo} that makes two of us
[12:22] {dino} 3/3 but nothing huge
[12:22] {Threei} what to say about me then, who can't trade 25 cents for a phone call today? :)
[12:22] {nemo} bohica
[12:25] {dino} lol
[12:26] {nemo} hehehehehe
[12:33] {Threei} TZA
[12:33] {Threei} 48 break
[12:34] {nemo} held .80 so far, think it's important
[12:36] {nemo} 1:1
[12:36] {Threei} 1/3 out .18
[12:36] {nemo} nice call vad
[12:36] {Threei} stop to .95
[12:36] {nemo} ballshy
[12:36] {Threei} hmmm
[12:36] {Threei} ty... I guess
[12:36] {Threei} but I still need to find out what exactly ballshy is
[12:36] {nemo} ballsy
[12:36] {Threei} :)
[12:36] {nemo} brass ones
[12:37] {Threei} oh, so shy is from shiny?
[12:39] {dino} back in hour or so
[12:43] {Threei} Short Setup: FCX 44 break
[12:49] {Threei} TZA rinsed balance
[12:53] {nemo} friday afternoon before the hurricane chop time
[13:05] {nemo} I'm calling it a draw on this one
[13:11] {Threei} good call
[13:20] {nemo} now I'd be tempted to go fcx short
[13:24] {Threei} .10?
[13:24] {Threei} NY subway will shut down tomorow at noon
[13:24] {nemo} not sure yet watching indexes
[13:26] {nemo} I'm wondering if wu wei should rule also being Friday afternoon, hard to read, easy to push things higher with no volume
[13:26] {Threei} well... often it's the case
[13:26] {Threei} sometimes it's not
[13:26] {nemo} yeah, today is not normal, hard to apply an edge
[13:26] {Threei} just watching if something compelling comes up
[13:27] {RonS} ...mayor bloomberg reiterates "no swimming in the subway"
[13:29] {RonS} ok guys...see you monday...daughter leaving early to beat the storm...have a good weekend and thanks to all for a good week
[13:30] {patience} bye Ron
[13:30] {Threei} take care ron, stays safe, see you on monday
[13:38] {dino} .
[13:45] {nemo} volume spikes in uwm and tna but not iwm
[13:52] {larisa} betting we will sell down to slightly red by the day end :)
[13:52] {Threei} you think?
[13:52] {nemo} 117.18 daily pivot spy
[13:53] {Threei} TZA .70 long then
[13:54] {nemo} I think the spy has one more FU in it
[13:54] {Threei} ok, waiting then
[13:56] {dino} wow larisa
[13:56] {Threei} carrot juice makes people brave
[13:56] {Threei} gives them sense of avdenture
[13:57] {larisa} like swimming during hurricane
[13:58] {dino} lol
[13:58] {Threei} darwin takes care of those :)
[14:01] {nemo} kist creeping up the trendline
[14:11] {Threei} OK, looking at the SPY...
[14:11] {Threei} one last bounce, lower high, then breakdown
[14:11] {nemo} yeah, looks short, but wim not so much
[14:12] {nemo} iwm
[14:13] {Threei} larisa... I came to conclusion that people who iron their shirts on themselves are worse than those swimming in hurricane
[14:13] {nemo} strange friends
[14:13] {Threei} they have better chance to survive and procreate
[14:14] {Threei} .70 break again
[14:14] {Threei} TZA
[14:14] {larisa} missing the point completely.. ironing shirts while wearing them is lazyness, not adventure..
[14:16] {Threei} dunno... you may say those swimming in the hurricane do it out of laziness - they don't want to come out of the water only to get back in aftter gurricane passes
[14:17] {larisa} I may not, I am smart one :)
[14:17] {Threei} ok... I will then
[14:19] {Threei} referendum results in BC just in on new tax
[14:19] {Threei} rejected
[14:36] {Threei} you know what's strange?
[14:37] {nemo} Magoo?
[14:37] {Threei} lol, yes
[14:37] {Threei} but aside of that:
[14:37] {Threei} dollar down, commodities and equities up - as if QE3 was announced
[14:37] {nemo} Les
[14:52] {Threei} market stubbornly stays up
[14:53] {nemo} vwaps coming up, think daily pivots will be the area of the close
[15:34] {dino} hmmm will lari be right?
[15:34] {larisa} nobody is afraid of hurricanes anymore...
[15:35] {Threei} see... high time for darwin
[15:35] {Threei} good lesson in darwin style would be:
[15:35] {Threei} market is not on at all on Monday as NY is hit,
[15:36] {Threei} wEurope comes apart Monday evening,
[15:36] {Threei} Tuesday sees market gapping down 500 points.
[15:36] {Threei} That's it, reckless optimists are cleaned out
[15:36] {Threei} and swimming in hurricane finally has its consequences
[15:39] {dino} how about this, germany opts out of euro......or greece simply defaults
[15:40] {dino} odds 1:1 germany, 4:1 greece (within one year
[15:40] {patience} either way, i'm 100% in cash after one trade today....just waiting in the shallows
[15:42] {dino} of course this could happen too, huricane could be mild, germany says ok to bonds, and greece gets disapline
[15:46] {Threei} so, funny that: first tiem in all these years I think Ben did the right thing
[15:47] {Threei} backed away and said, Congress must fix fiscal.spending imbalances, not monetary policy tricks
[15:47] {Threei} I wish he did that two QEs ago
[15:48] {dino} me too, we'd be through this already
[15:48] {Threei} or at least firmly on the way to healing
[15:54] {Threei} finishing in the same coma at the high
[15:55] {larisa} see you :)
[15:55] {Threei} ok guys, let's have a good weekend
[15:55] {Threei} see you all on Monday
[15:57] {dino} take care all, thx for ideas
[16:00] {Threei} oh boy
[16:00] {Threei} US President Obama and IMF's Lagarde agreed earlier today on need for more policies that help growth in the near term- have agreed on need for fiscal consolidation over the medium term
[16:00] {Threei} this is scary...

Aug 26 2011

Thursday, August 25, 2011

Aug 25 2011

Most of the day spent in coma, but still, got nothing to complain about - 4 calls, 4 wins. Bore me with profit and I will yawn all the way to the bank.

Tomorrow is Jackson Hole speech, and my strong feeling is, it will be nothing but fizzle. No definite promise of QE3, no categorical denial either.

Session Time: Thu Aug 25 00:00:00 2011
[08:30] {nemo} what with jobs
[08:30] {Threei} (US) INITIAL JOBLESS CLAIMS: 417K V 405KE
[08:30] {nemo} report that is
[08:30] {nemo} hehehehehehehe
[08:30] {Threei} both are out, steve and report
[08:30] {Threei} CONTINUING CLAIMS: 3.641M V 3.70ME
[08:30] {Threei} Have Market Intel? TradeTheNews.com Tip Line -} Click Here
[08:31] {Threei} and of course:
[08:31] {Threei} Prior Initial Claims revised higher from 408K to 412K - Prior Continuing Claims revised higher from 3.702Mto 3.721M
[09:11] {nemo} wtf
[09:11] {Threei} BAC *BERKSHIRE HATHAWAY TO INVEST IN BOA; TO ACQUIRE 50K PREFERRED SHARES
[09:12] {nemo} too funny...buffet buys knowing the governement will back him...what a scam
[09:15] {nemo} so the feds do a back door bailout of BAC
[09:16] {RonS} gm, you mean again?
[09:16] {nemo} right
[09:17] {Threei} yeah
[09:22] {Threei} do you know IntelliScan now allows you to filter stocks by earning report date proximity?
[09:22] {Threei} http://www.facebook.com/RealityTrader/posts/248710475151800
[09:23] {larisa} gm :)
[09:23] {Threei} larisa :)
[09:23] {larisa} vad :)
[09:27] {nemo} might as well short slw
[09:28] {Threei} hmm
[09:28] {Threei} what a fresh and unusual idea
[09:28] {Threei} going to skip first minutes
[09:29] {Threei} a bit too many cross-currents
[09:32] {RonS} rimm shot
[09:32] {Threei} yeah, was watching 29 break
[09:32] {nemo} we'll get .75 on spy then it's whether we got to 121.75
[09:34] {Threei} Short Setup: RIMM .40 break
[09:34] {Threei} if stays under .50
[09:35] {Threei} in aggressively half lot
[09:35] {Threei} stop above .60
[09:36] {Threei} going to add second half at .40
[09:36] {Threei} did
[09:36] {Threei} .56 stop
[09:38] {Threei} 1:1, half out
[09:38] {Threei} got .33
[09:39] {Threei} stop to .51
[09:39] {Threei} stop to .46
[09:40] {Threei} out second half
[09:45] {Threei} Short Setup: SLW .30 break
[09:45] {Threei} wow, that was fast
[09:45] {Threei} 1:1
[09:48] {Threei} ugh
[09:48] {Threei} TZA .50 break was on my radar
[09:49] {Threei} zero chance of alerting in time
[09:49] {Threei} or executing
[09:50] {Threei} Long Setup: SLW .45 break
[09:51] {Threei} if stays above .35
[09:52] {Threei} 1:1
[09:53] {Threei} 1:2
[09:53] {RonS} gj ty
[09:53] {Threei} :)
[09:55] {dino} slh sm l .75
[09:55] {pragmatic} hey dino, what does "sm" mean ?
[09:56] {Threei} smelly
[09:56] {nemo} sm=small=400 shares
[09:56] {Threei} oops... small
[09:56] {dino} stopstop
06[09:56] * pragmatic :)
[09:56] {dino} re-booting
[10:04] {dino} in slh .00 while re-booting
[10:05] {pragmatic} what a "spready" stock!
[10:05] {nemo} that's nothing for Dino
[10:05] {dino} yeah
[10:06] {nemo} wait until he buys a rorschach chart...you'll defecate
[10:06] {dino} magoo had a name for that
[10:06] {RonS} "hooker wide"...sorry but luv that...
[10:06] {dino} lol
[10:07] {nemo} clap.....I can't....tight, huh?
[10:07] {dino} out slh .73, +.73
[10:07] {RonS} dino, thinkin slh could do 51.50...
[10:08] {dino} me too, but gut says it breaths first
[10:08] {dino} re-load around .25
[10:08] {dino} i want
[10:09] {dino} not happening
[10:09] {dino} you in ron?
[10:09] {RonS} @ .37
[10:09] {dino} beautiful
[10:10] {dino} you always do better on my calls than i
[10:10] {dino} infy sm l .01
[10:11] {RonS} got nervous...took .40...+1.03
[10:11] {dino} wtg
[10:11] {RonS} good thing
[10:14] {dino} that'll wake you up
[10:14] {RonS} ya, thanks to you...as usual...amazing since they had good numbers
[10:15] {dino} thought the same thing
[10:16] {dino} out infy .38, +.37
[10:19] {patience} good morning, have i missed much?
[10:19] {dino} fmx sm l ave .045
[10:20] {Threei} 3 for 3, patience
[10:20] {Threei} so, yes
[10:20] {patience} nice
[10:22] {dino} stop .94 -.10
[10:24] {RonS} ack bac
[10:28] {dino} fmx sm l .65
[10:32] {RonS} look vhc
[10:32] {dino} stop .43, -.22
[10:35] {RonS} vhc show 24% of float short...
[10:36] {dino} patent play like idcc
[10:36] {RonS} ya...apparently 4g patents...
[10:36] {dino} slh sm l .16
[10:37] {dino} bud sm l .25
[10:38] {RonS} beer guys weak off heineken comments
[10:40] {dino} saw that yesterday
[10:41] {Threei} Short Setup: X .60 break half lot
[10:45] {Threei} 1:1
[10:47] {dino} gpor sm l .99
[10:56] {dino} fmx sm l .02
[11:00] {dino} out gpor .44, +.45
[11:00] {dino} out bud .60, +.35
[11:01] {RonS} gj
[11:01] {dino} ty
[11:10] {RonS} Ratings Agencies Confirm Germany's AAA After Downgrade Rumor May Have Triggered A DAX Selloff
[11:15] {nemo} C&H IWM
[11:16] {nemo} damn too loate
[11:21] {dino} panl wow
[11:21] {RonS} yeah, got slh .12 to .92 +.80
[11:22] {dino} gj, still in here
[11:26] {dino} out slh .13, +.93
[11:26] {RonS} it's a beaut...
[11:26] {dino} :D
[11:27] {dino} we found our atm
[11:27] {Threei} :)
[11:38] {nemo} check out bid on GES
[11:38] {nemo} wtf
[11:39] {nemo} guss you can rebate trade off that for awhile
[11:40] {nemo} gone
[11:40] {nemo} back
[11:41] {nemo} selling
[11:41] {nemo} wow
[11:41] {nemo} dropped .10
[11:52] {dino} mkts have stopped moving
[11:53] {nemo} market has to eat lunch
[12:11] {nemo} panl dino
[12:17] {dino} dropped a bit
[12:17] {dino} 28 to 53 in 4 days
[12:17] {RonS} hgsi sm l .79
[12:20] {dino} panl sm s .00
[12:21] {RonS} France extends short-selling ban on Financial stocks
[12:21] {nemo} yeah
[12:21] {RonS} ...until 11/11
[12:21] {nemo} something tells me they'll be extending that for years
[12:22] {dino} like it's the shorts' fault, idiots
[12:24] {dino} stop panl -.26
[12:28] {dino} gpor sm l .99
[12:31] {dino} ugh panl, rinsed
[12:34] {nemo} looking for spy bounce by .25
[12:35] {nemo} don't know how much though
[12:35] {RonS} out hgsi -.10
[12:38] {RonS} quote otd: President Oblahblah just confirmed the earthquake in Virginia was in fact the result of movement and shift on the infamous 'Bush's Fault'
[12:39] {nemo} yeah, saw that joke yesterday...get with the program
[12:39] {RonS} ...thanks for sharing...
[12:39] {nemo} xxxooo
[12:39] {Threei} lol
[12:39] {Threei} you two
[12:40] {nemo} promise to kiss you behind the ear
[12:40] {dino} roflol
[12:40] {RonS} hey, my name ain't bunny...
[12:41] {dino} makes me think of platoon
[12:41] {nemo} too funny...laying on the bed watching a movie eating tortilla chips
[12:41] {nemo} bunny hops up want some
[12:41] {dino} wow slh 52s
[12:41] {nemo} so, she sticks her head in the bag and slips in
[12:41] {nemo} scared the shit out of her...all you see is this rabbit shoot straight up about three feet
[12:42] {nemo} I needed Depends
[12:43] {nemo} she's taken up boxing too
[12:43] {nemo} she stands up on her hind legs and tries to smack me with her front paws
[12:44] {Threei} http://on.fb.me/nN1m9m
[12:44] {RonS} well...quit mashing her...
[12:44] {nemo} not with those big front teeth
[12:44] {dino} ohhh mannnnnn panl -1.20 from my rinsed entry
[12:46] {nemo} 115.95 area next support
[12:46] {dino} gpor stop-.30
[12:47] {Threei} if I am allowed to quote myself,
[12:47] {Threei} yesterday near the end of the day:
[12:47] {nemo} put a mirror in front of you
[12:47] {Threei} News flow barring, SPY daily chart looks ready to reverse back down between here and 120
[13:04] {dino} infy sm l .76
[13:06] {dino} gpor rinsed
[13:06] {nemo} 48 is vwap...not sure I'd expect more dino
[13:07] {dino} thx
[13:17] {nemo} panly
[13:17] {nemo} panl
[13:17] {nemo} C&H
[13:18] {nemo} 48 is vwap
[13:44] {dino} pdco sm l .40
[14:05] {RonS} in .42 thinkin 27.14 target
[14:08] {dino} lol, i want 26.70s
[14:14] {RonS} sheesh, glad i looked...i thought pdco was a driller
[14:18] {dino} pre-med pre-law whats the difference
[14:18] {dino} stop to .70
[14:18] {RonS} out pdco .74 +.32 thanks dino
[14:18] {dino} gj
[14:20] {dino} out +.30
[14:21] {RonS} gj...and i meant oil/gas driller...
[14:22] {dino} i know, slipped into animal house thoughts
[14:22] {RonS} oh ya...lol
[14:24] {nemo} Series 56 deadline extended to 29 October
[14:24] {Threei} desirably 2014
[14:25] {RonS} bet nemo saw that yesterday...
[14:26] {RonS} :D
[14:52] {Threei} http://www.telegraph.co.uk/finance/financialcrisis/8720792/Germany-fires-cannon-shot-across-Europes-bows.html
[14:52] {Threei} two weeks before the German constitutional court rules on the legality of the various bailout policies. The verdict is expected on September 7.
[15:03] {Threei} the more i look into it, the more i think it cold be really big event
[15:04] {nemo} Germany is the linchpin to the EU
[15:04] {Threei} right
[15:04] {nemo} krauts are gonna' get revenge
[15:04] {Threei} court says it's unconstitutional, union is done
[15:07] {Threei} 65% Trust Their Own Economic Judgment Over Obamas
[15:07] {Threei} lol
[15:08] {Threei} to be fair, same must be true fore any president
[15:21] {dino} iyfyuc,vmb
[15:21] {nemo} have another drink
[15:22] {dino} falling asleep
[15:22] {Threei} rofl
[15:25] {Threei} if you listen to TV, Manhattan is likely to cease to exists on Sunday
[15:27] {dino} isn't that always the case
[15:27] {RonS} ...daughter flying home to there sat, to pack up and move to shanghai the following wed...
[15:28] {RonS} she is sad no craigslist shoppers will come to buy her stuff
[15:29] {RonS} they'll be able to get it free looting...
[15:29] {Threei} huh
[15:29] {dino} how long in shanghai?
[15:29] {RonS} they are thinking 3-5 years
[15:30] {Threei} till the it should become clear whether China overtakes USA or flops
[15:30] {RonS} she taught high school in harlem the past three so i think she can handle it
[15:30] {Threei} so they'll make informed choice
[15:30] {nemo} oy vay...tell her to see if she can get into the White Cloud or Shenzhou temple...impressive places
[15:30] {Threei} I can get into white cloud any day nemo
[15:31] {RonS} lol
[15:31] {Threei} second bottle of single malt usually does it
[15:31] {Threei} color of the cloud is not guaramteed though
[15:31] {dino} lol, i thought he was ordering chinese food
[15:34] {Threei} what the deuce
[15:34] {Threei} one after another, small mining companies follow me on Twitter
[15:34] {Threei} what do I have to do with them
[15:35] {RonS} unreal...bloomberg tells new yorkers 'do not swim' during the hurricane
[15:35] {Threei} rofl
[15:36] {Threei} well, look... manufacturers of irons write in manuals hat customers shouldn't iron shits while wearing them
[15:36] {RonS} i would say...let's cull the herd...those dumbe enough to swim during the hurricane please do so...
[15:36] {RonS} dumb
[15:36] {Threei} let Darwin work
[15:37] {Threei} ok guys
[15:37] {Threei} my view is, we break down
[15:37] {Threei} looking at TZA
[15:37] {Threei} want pullback
[15:37] {Threei} half lot
[15:37] {Threei} around .30 - 40
[15:37] {larisa} it is not dumb, where is your Sense of Adventure :)
[15:37] {Threei} lol
[15:38] {dino} just dropped 60 pts in five min.
[15:38] {Threei} I guiess my sense of adventure gets filled on clicking buy and sell buttons
[15:38] {Threei} pathetic, I know
[15:39] {Threei} but I can't find any mammoth or sabretooth tiger to kill with my bare hands these days
[15:40] {Threei} and even though local paper alerted about cougar appearance nearby yesterday, I suspect she would be too pretty to kill
[15:44] {RonS} lol, jus thinkin a cougar for you would have to be what? 80?
[15:44] {RonS} :)
[15:44] {RonS} me too for that matter...
[15:50] {Threei} I go off traditional estimates, not tied to my age :)
[15:52] {dino} lol
[15:58] {dino} nothing like another 300 pt range day
[15:58] {dino} this market trades 2% swings every other day
[16:00] {patience} not my style of day....making money every day but about half my daily
[16:01] {patience} ty vad
[16:01] {Threei} thank you all
[16:01] {Threei} have a good evening
[16:01] {Threei} see you tomorrow
[16:01] {dino} gn all

Wednesday, August 24, 2011

Aug 24 2011

Profitable although quite inactive day. As always, these slow climb day provide us with little opportunity. This trade below was the one that actually made the day (although not the only profitable one):

The right way to play reversals - buy on the RIGHT side of the V, after the confirmation, not guess on the left before the bottom is formed. Here is illustration, TNA bottom fishing trade called at 11:04. A few long red candles with sharp volume increase constituted capitulation; next red one with downward tail pierced lower Bollinger Band and occurred on much lower volume; break of the resistance followed indicating high odds of reversal coming. 15 cents risk, 45 cents reward, nice and easy.

Session Time: Wed Aug 24 00:00:00 2011
[08:30] {Threei} (US) JULY DURABLE GOODS ORDERS: 4.0% V 2.0%E; DURABLES EX TRANSPORTATION: +0.7% V -0.5%E
[09:17] {Threei} (GE) German Chancellor Merkel: Reiterates view of being against the issuance of Euro bonds
[09:17] {Threei} - Renews demand for debt brakes and sanctions on countries that misuse structural funds
[09:17] {Threei} - Euro-zone members must enact reforms which cannot be delayed
[09:17] {Threei} - Mistakes made with the introduction of the Euro can only be solved in a step by step process
[09:17] {Threei} - Euro has proven itself and is more stable a currency than the German Deutsche-mark ever was
[09:26] {dino} gm
[09:26] {RonS} gm
[09:26] {larisa} gm :)
[09:28] {Threei} gm all
[09:28] {Threei} ok, everyone knows first play, right?
[09:29] {nemo} slw short
[09:29] {Threei} see, I can sleep in
[09:30] {Threei} ummm
[09:30] {Threei} need bounce
[09:31] {nemo} uthr dino
[09:31] {Threei} Short Setup: RIMM .30 break
[09:32] {Threei} invalidated
[09:33] {Threei} Short Setup: SLW .40 break
[09:33] {Threei} invalidated
[09:35] {Threei} there is CBO projection, very long, but:
[09:35] {Threei} - CBO's baseline, cumulative deficits total $3.5 trillion between 2012 and 2021, and by the end of 2021, debt held by the public equals 61 percent of GDP. That estimate of deficits over the next 10 years is considerably lower than the $6.7 trillion that the agency projected in March
[09:35] {Threei} just what has changed since march??
[09:35] {RonS} ...it's closer to the election...
[09:36] {nemo} very weird...have to read the assumptions, the asbstract will be available on the website
[09:36] {Threei} seems like this is what proppd the market
[09:36] {nemo} or the production numbers
[09:36] {Threei} ?
[09:36] {Threei} what production numbers?
[09:37] {nemo} durable goods
[09:37] {RonS} who believes the CBO on anything?
[09:37] {Threei} they were at 8:30
[09:37] {nemo} yeah
[09:37] {Threei} I am talking about this spike right after open
[09:37] {nemo} yearly pivot on spy 116.72 that
[09:37] {nemo} that's what's going on
[09:38] {Threei} Short Setup: SLW .50 break
[09:39] {nemo} spready for slw
[09:42] {Threei} 1:1
[09:43] {Threei} 1:2
[09:43] {Threei} short SLW, a.k.a. Old Faithful
[09:44] {patience} nice call
[09:44] {Threei} ty
[09:44] {Threei} 1:3, over and out
[09:46] {Threei} awww
[09:50] {Threei} Short Setup: RIMM .30 break
[09:51] {nemo} big rally today
[09:51] {nemo} if we break .75 we close the gap
[09:52] {Threei} invalidated
[09:59] {Threei} Long Setup: FCX 43 break
[09:59] {Threei} half lot
[10:00] {Threei} stop under .90
[10:01] {Threei} *(US) JUN HOUSE PRICE INDEX Q2 HPI Q/Q: -0.6% V -0.4%E
[10:02] {dino} gpor sm l .25
[10:03] {Threei} SLW is relentlessly downtrending
[10:04] {Threei} so's GLD
[10:04] {patience} comex expiry tomorrow
[10:07] {RonS} caught .98 to .16 ty
[10:07] {Threei} FCX?
[10:07] {Threei} whoa GLD
[10:08] {Threei} and when I say whoa I mean, drop whatever you want
[10:08] {Threei} GLD gold holdings drop by 25 tonnes on Tuesday: biggest one day outflow since January 25
[10:09] {RonS} should we be playing the dzz?
[10:09] {nemo} had to ship it to Venezuela
[10:09] {patience} mr. chavaz came calling
[10:10] {Threei} DZZ... hate the way it trades
[10:11] {Threei} I am not overly active so far guys, main reason being:
[10:12] {Threei} something changes in the market
[10:12] {Threei} and I haven't grasped the full extent andf character of a change yet
[10:12] {Threei} so staying on a careful side
[10:14] {Threei} (US) JUN HOUSE PRICE INDEX M/M: 0.9% v 0.2%e
[10:15] {Threei} what's with positive news all of a sudden
[10:15] {Threei} white house said enough of doom and gloom ?
[10:16] {dino} messing w/numbers
[10:22] {Threei} SLW
[10:22] {Threei} double bottom
[10:22] {Threei} Long Setup: SLW .20 break
[10:24] {Threei} 1:1
[10:25] {dino} gpor stop -.31
[10:30] {Threei} *DOE CRUDE: -2.2M V +1ME; GASOLINE: +1.35 V -1ME; DISTILLATE: +1.73M V +500KE;
[10:35] {nemo} tna .88
[10:37] {nemo} 1/2 .08
[10:38] {nemo} 1/4 more .28
[10:40] {nemo} stop b/e
[10:40] {Threei} nice management
[10:40] {nemo} ty
[10:40] {Threei} I value this kind of things even more than finding setups
[10:40] {Threei} this is maturity
[10:41] {nemo} oy
[10:41] {Threei} sorry, didn't mean to insult you by implying you are mature
[10:41] {nemo} phewwwww
[10:41] {Threei} just wanted t underline the difference between trader and his bunny - even bunny can find a setup here and there, only a trader can manage it
[10:42] {Threei} see? back on track with insults :)
[10:42] {nemo} bunny can only hit keys, can't handle the mouse
[10:42] {Threei} that's actually a good way to out it
[10:42] {Threei} put
[10:42] {dino} sm l gpor ave .87
[10:44] {nemo} stop .25
[10:45] {nemo} out
[10:58] {dino} uthr sm l .25
[11:04] {Threei} Long Setup: TNA 41 break
[11:04] {Threei} if stays above .85
[11:05] {Threei} 1:1
[11:05] {Threei} my target is 1:3
[11:05] {patience} nice
[11:05] {Threei} 1:2
[11:05] {dino} tzoo sm l .26
[11:05] {nemo} minimum .50
[11:06] {nemo} btw...this has a very good chance of going to 42
[11:07] {nemo} you might add if it breaks .50
[11:07] {Threei} could be
[11:07] {Threei} but my read is over at .45
[11:07] {nemo} vwap 42
[11:07] {nemo} spy vwap .96
[11:07] {Threei} that's YOUR read :)
[11:07] {Threei} I barely know what vwap is
[11:07] {nemo} fine
[11:08] {Threei} out
[11:08] {Threei} target is hit for me
[11:11] {dino} out tzoo .80, +.54
[11:18] {dino} out uthr .65, +.40
[11:26] {Threei} http://on.fb.me/quUdj0
[11:47] {dino} uthr sm l .00
[12:16] {Threei} Long Setup: TZA .90 break
[12:16] {Threei} invalidated, looking for better entry
[12:20] {Threei} (US) White House deputy press sec: President Obama plans to make suggestions to the Congressional super committee on debt reduction strategies
[12:20] {Threei} wow, really?
[12:21] {dino} and this is news? where the hell has he been? guy's an idiot
[12:23] {Threei} well, I evaluate it not as much as news as an achievement: he plans to make a suggestion
[12:23] {Threei} you'll have to agree, this is better than not to plan to make a suggestion
[12:24] {Threei} or plan not to make one
[12:24] {Threei} also, important detail is,
[12:24] {Threei} he doesan't know what suggestion he is going to make, he just plans to make it
[12:25] {Threei} but as planning process goes forward, I am sure the suggestion itself will shape up as well
[12:28] {dino} guy couldn't even suggest a budget, don't get your hopes up
[12:29] {Threei} what else is left... just hope for some hopium
[12:31] {dino} tzoo sm l .60
[12:37] {dino} agn spike
[12:41] {dino} sm s .00
[12:42] {dino} stop -.25
[12:50] {dino} fmx sm l .77
[13:03] {dino} out fmx 27, +.50
[13:03] {Threei} nice
[13:03] {dino} ty
[13:06] {dino} out tzoo .94, +.34
[13:40] {Threei} TZA, pullback to .50 - .60 area for long entry
[13:50] {Threei} missed
[13:50] {Threei} too fast
[13:50] {Threei} if goes there second time, not a buy anymore
[13:59] {nemo} slw chart looks interesting
[14:00] {Threei} Magnitude 6.7 quake hits Peru, buildings shake Lima
[14:00] {Threei} that 2012 stuff looks truer by day
[14:00] {nemo} yeah, guy on the futures feed is in peru, just saying his room started shaking
[14:11] {Threei} (US) Pentagon: China on track to achieve "modern, regionally-focused" military by 2020
[14:11] {Threei} - China's military might may raise concerns among neighbors.
[14:11] {Threei} - Unlikely to be able to deploy large forces for combat before 2020
[14:39] {nemo} wonder what they define as "regionally" If it's like the US,
[14:39] {nemo} you have one carrier group for the atlantic region, one for the pacific region, one for the indian region, and 3 for the Middle East Region
[15:04] {Threei} Just 14% Say U.S. Heading in Right Direction
[15:07] {nemo} if I didn't know better, I would think tza were long here
[15:08] {Threei} hard to tell... looking at it too
[15:08] {nemo} vaseline trade
[15:08] {Threei} quite inactive day for me, albeit nicely profitable
[15:08] {dino} finland backing off collateral requirement
[15:11] {Threei} don' see it on my news yet
[15:13] {Threei} you sure it's real new dino?
[15:13] {Threei} no market reaction either
[15:13] {dino} realmoney mentioned it
[15:14] {nemo} this should be the run to new highs
[15:19] {dino} took hours, but out gpor .21, +34
[15:20] {Threei} I dunno dino... I am not sure you are allowed to keep money that took so long to make...
[15:20] {dino} thats called earning it
[15:22] {Threei} hmmm
[15:22] {Threei} I am trying to grasp the concept
[15:25] {dino} don't bother, it would drive you nuts
[15:29] {Threei} still hope for one last reversal play
[15:29] {nemo} I was lookin at .76 long tza on that volume but decided against it
[15:30] {dino} nothing jumping out at me
[15:30] {Threei} no
[15:30] {dino} waiting for a spike or capit
[15:30] {Threei} but lookiong at TZA for pullback to47.5
[15:30] {Threei} for entry
[15:36] {nemo} that production number might put the fed on hold this weekend
[15:38] {dino} think he was on hold anyway. bigger problem is european mess, imo
[15:38] {dino} lphi drop
[15:38] {nemo} yes
[15:40] {dino} sm l .85
[15:41] {dino} out .15, +.30
[15:41] {Threei} TZA starts looking tempting
[15:41] {Threei} half lot
[15:41] {dino} too soon
[15:43] {Threei} ok
[15:43] {Threei} in
[15:43] {Threei} .65
[15:43] {Threei} stop under .50 of course
[15:44] {Threei} that was fast
[15:44] {nemo} wanted the gap border
[15:48] {Threei} now it works
[15:48] {Threei} just needed one last rinse
[15:48] {nemo} yeah spy had to get that level
[15:56] {dino} out uthr -.07
[15:59] {Threei} thank you all
[15:59] {Threei} have a good evening
[16:00] {Threei} see you tomorrow
[16:00] {nemo} c u
[16:00] {larisa} bye :)

Tuesday, August 23, 2011

Aug 23 2011

As most slow creep-up days, this one would have been an empty and boring for us, if not for a milk trade below:

Details of the call start at 11:34

Session Time: Tue Aug 23 00:00:00 2011
[09:21] {RonS} top o' the morning everyone
[09:21] {larisa} gm :)
[09:24] {nemo} no vad
[09:27] {RonS} make the call nemo...lemme guess...short slw...
[09:27] {nemo} hehehehe...gonna' be weird this morning, NYSE having order routing issues
[09:29] {dino} gm
[09:29] {Threei} good morning
[09:29] {Threei} sorry, little tech troubles, will get organizrd in a min
[09:29] {nemo} got my rally
[09:29] {nemo} we'll see if it lasts
[09:31] {Threei} Euro vs US Dollar Former Fed Chairman Greenspan: The euro is "breaking down," this process is causing difficulties; some collateral held by Euro area is 'questionable'
[09:31] {Threei} - The difficulties in the Eurozone could hurt US companies.
[09:31] {Threei} - US not yet facing a double dip recession.
[09:33] {nemo} currency collapse...but not a double dip
[09:34] {Threei} Short Setup: SLW .20 break
[09:34] {nemo} hey RON!!!
[09:35] {Threei} invalidated
[09:37] {Threei} Short Setup: FCX .75 break
[09:37] {Threei} stop above .85
[09:38] {Threei} 1:1
[09:40] {Threei} 1:2
[09:45] {dino} brk/b sm l .04
[09:45] {Threei} Short Setup: RIMM .70 break
[09:46] {Threei} Long Setup: RIMM .80 break
[09:48] {Threei} short it is
[09:49] {nemo} probably on hold until the 10:00 numbers
[09:49] {Threei} no go
[09:49] {dino} csh sm l .50
[09:49] {dino} thin
[09:56] {Threei} (GR) Finland PM Katainen: Finland could drop out of the Greece bailout deal if it did not receive collateral commitments from Greece
[09:57] {Threei} ok, waiting out numbers
[09:57] {RonS} one trick pony?...said that last week...
[09:57] {Threei} things are too unclear here
[09:57] {Threei} Obama: Strongly Approve: 19%.. Strongly Disapprove 45%... Approval Index: -26
[09:57] {Threei} breakdown
[09:58] {Threei} held -21-22% for a long while
[09:59] {Threei} *(US) AUG RICHMOND FED MANUFACTURING: -10 V -5E
[10:00] {Threei} *(US) JULY NEW HOME SALES: 298K V 310KE
[10:00] {Threei} *(EU) EURO ZONE AUG ADVANCED CONSUMER CONFIDENCE: -16.6 V -12.4E
[10:00] {Threei} triple yaikes
[10:02] {Threei} Short Setup: SLW .80 break
[10:02] {dino} hmmm bad news is good?
[10:03] {Threei} if stays under .90
[10:04] {Threei} target .45, 3 partials
[10:04] {Threei} actually, in a way it is, dino
[10:05] {Threei} worse economic news, more chance for Ben to announce QE3
[10:05] {Threei} thus market reacting this way
[10:05] {dino} hmmm again, :D
[10:05] {Threei} 1:1, half out
[10:05] {Threei} stop to .83
[10:08] {dino} out brk/b .54 +,50
[10:11] {dino} out csh ave .96, +.46
[10:11] {RonS} gj
[10:11] {Threei} nice back to back wins
[10:12] {Threei} out second half SLW
[10:13] {dino} ty
[10:18] {Threei} hmmm
[10:18] {Threei} hesitated about SLW long on 40 break
[10:18] {Threei} was probably worth it
[10:19] {Threei} but it's a toughie to call
[10:34] {dino} tzoo sm l .01
[10:36] {Threei} (GR) Institute of International Finance (IIF) Official: Concerned that other euro zone bailout creditor nations may be asking for Greek collateral
[10:36] {Threei} hmmm
[10:37] {Threei} it's a concern that creditors want a collateral?
[10:37] {Threei} how dare they
[10:37] {dino} lol
[10:39] {dino} out tzoo .76, +.75
[10:40] {RonS} gj
[10:41] {dino} ty
[10:43] {Threei} remember we talked about SLW losing connection with market?
[10:43] {Threei} look at it today
[10:43] {Threei} in its own world
[10:43] {RonS} nemo, just learned the 30 yr yield in .tyx
[10:43] {RonS} is
[10:51] {dino} panl sm s .74
[10:52] {dino} cov panl .43,
[10:52] {dino} +.31
[10:54] {Threei} can't get today's rythm
[10:54] {nemo} would be no problem if you had turrets or epilepsy
[10:54] {Threei} ah
[10:54] {dino} put some music on
[10:54] {Threei} that's where the secret is...
[10:55] {nemo} yeah, Rage at the Machine
[10:58] {dino} bulls on parade
[11:06] {Threei} Short Setup: SLW .40 break
[11:07] {Threei} if stays under .50
[11:07] {Threei} most likely just a scalp, maybe 1:2
[11:12] {Threei} no go
[11:34] {Threei} SPY looks to form breakout
[11:35] {dino} 1145 yesterday high
[11:35] {Threei} yeah, and intraday looks very solid to break this level
[11:36] {Threei} Long Setup: TNA .70 break
[11:36] {Threei} .55 support
[11:37] {dino} tzoo sm l .00
[11:38] {Threei} milk trade potential
[11:38] {Threei} 1:1
[11:38] {Threei} 1/3 out .90
[11:39] {Threei} next partial arounf 38.10
[11:39] {Threei} stop to .65
[11:41] {Threei} notice how SLW moves against the market
[11:41] {Threei} safe haven status
[11:42] {nemo} moving with gld
[11:42] {Threei} right
[11:42] {Threei} same idea
[11:44] {Threei} ok TNA
[11:44] {Threei} time for brrrrreak
[11:44] {Threei} yup, like this
[11:44] {Threei} secind 1/3 out
[11:45] {Threei} stop to .75
[11:46] {Threei} last 1/3 is broken by two halves, offering one at .35
[11:47] {Threei} stop to .89
[11:47] {dino} smr l mhrPd ave .90
[11:48] {Threei} that's a laugh:
[11:48] {Threei} (GR) Greence Fin Min Venizelos: Attempting to be removed from the most severe aspect of the crisis by the middle part of 2014
[11:49] {larisa} Greence or Yellonwce ?
[11:50] {Threei} asking me? I am just copy/pasting
[11:51] {Threei} I have enough of my own typos, not taking reponsibility for someone's {G}
[11:51] {Threei} out .35
[11:51] {Threei} last part left
[11:51] {Threei} stop to .05
[11:51] {nemo} why didn't you hold to yesterday's high?
[11:51] {Threei} under last pullback's low
[11:51] {nemo} oh you are
[11:51] {Threei} I still have last piece
[11:56] {Threei} +$1.00
[11:56] {Threei} out
[11:56] {dino} gj
[11:56] {Threei} ty
[11:56] {Threei} milk trade
[11:56] {Threei} day-making one, too
[11:57] {nemo} wow is spy ripping
[11:58] {nemo} either .40 or .88 area
[11:59] {dino} out tzoo .33, +.33
[12:00] {dino} out MHRpD .77, +.87
[12:08] {Threei} wtg
[12:10] {dino} ty
[12:13] {Threei} guys
[12:13] {Threei} am I in this univerese at all?
[12:13] {Threei} look at this
[12:13] {Threei} (GR) German CDU Parliament Member Fuchs: Neither Finland nor any other euro zone member state will receive collateral guarantees for aid contributions to Greece
[12:13] {Threei} - Calls on Italy to sell off gold holdings rather than take on fresh debt.
[12:13] {Threei} - Germany's CDU leader Kauder also remarks that collateral deals shouldnt be sought
[12:13] {Threei} ***Reminder: Earlier in the session, Finland PM Katainen said that Finland would drop out of the Greece bailout deal if it did not receive collateral commitments from Greece
[12:18] {Threei} (GR) Euro zone members are said to be discussing non-cash collateral options for Greece bailout loans - financial press
[12:18] {Threei} - Real estate is said to be one of the options being discussed.
[12:20] {RonS} german financial analyst Vize Acker says the problem with real estate is that all of it is ancient in greece
[12:20] {dino} i would not loan to them w/o collateral either
[12:20] {Threei} lol ron
[12:21] {dino} real problem is greece will not own any greek land if default, defacto invasion
[12:22] {Threei} right
[12:22] {Threei} how do you loan money to entity that ceases to exist if you exercise your collateral rights
[12:23] {dino} as it is now, default is uncollateralized, so in greeces'
[12:23] {dino} mind, thanks suckers
[12:23] {Threei} it's not a problem for a mobster loaning money to a corner store owner
[12:23] {Threei} but when we are talking about whole country...
[12:24] {dino} the next german invasion, lol
[12:26] {Threei} pretty much
[12:26] {Threei} how do you take over country peacefully
[12:26] {Threei} "it's our land now"
[12:26] {dino} thru collateralized loan defaults
[12:26] {Threei} yeah right... imagine the national backlash
[12:27] {dino} then it goes un=peacefully
[12:27] {Threei} when the whole nation goes to the streets
[12:27] {Threei} do you go to war?
[12:27] {Threei} I am pretty sure germany has zero appetite for that
[12:27] {dino} greece should default now before it is too late
[12:41] {dino} wow got out of mhrpd way soon
[12:41] {nemo} think market begins to backtrack when iwm gets to .38
[12:50] {nemo} spy at trend
[13:02] {dino} feels up
[13:17] {Threei} SPY maybe finally hinting of reversing
[13:23] {Threei} ugh
[13:24] {Threei} just prepared TZA alert
[13:24] {Threei} maybe on pullback
[13:43] {RonS} lol, that dino is something else...tzoo -7.3% on a day like today and he made $ long
[13:45] {dino} ;)
[13:47] {Threei} hehe
[13:47] {Threei} TZA
[13:47] {Threei} .60 break long
[13:47] {nemo} ballsy call
[13:47] {Threei} stop under .50
[13:48] {Threei} oh well
[13:54] {Threei} arghhhh
[13:54] {Threei} was just one entry early
[13:54] {Threei} (EU) German Chancellor Merkel rejects gold collateral as part of EU bailout - financial press
[13:54] {Threei} Reports of buildings shakings in Washington DC and NY; Magnitude 5.8 earthquake reported in Virginia
[13:54] {Threei} oh boy
[13:55] {RonS} did they balance the budget?
[13:57] {Threei} then it wqouldn't be just 5.8
[13:57] {Threei} it would be 8.5 at least
[13:57] {Threei} and snow in August
[13:57] {RonS} true 'nuff
[13:59] {Threei} why no one "liked" this
[13:59] {Threei} http://www.facebook.com/photo.php?fbid=249504998417516&set=a.237133656321317.63196.235739863127363&type=1
[13:59] {dino} whats wrong w/gold collatteral?
[13:59] {Threei} come on guys, should I ask every time or what :)
[13:59] {Threei} well... I guess she doesn't want barbaric relic, dino :)
[14:00] {Threei} and while you are on it,
[14:00] {Threei} http://www.facebook.com/RealityTrader/posts/249492385085444
[14:01] {RonS} ...need to be a member of facebook to like stuff...not doing it
[14:01] {Threei} (GR) Greece PM Papandreou: Systemic problems EU still need to be resolved
[14:01] {Threei} you don't say Papandreou
[14:05] {RonS} gs sm l 103.98
[14:10] {RonS} out scratch gs
[14:11] {nemo} things looking long here
[14:16] {Threei} really?
[14:16] {Threei} I don't see it
[14:16] {Threei} SPY looks breakdownish to me
[14:18] {Threei} maybe not
[14:19] {nemo} 114.72 is weekly pivot, it might end up hanging around here
[14:19] {nemo} vwap down at .25 and climbing
[14:20] {nemo} you also have, and Iunderstand this might be anal, but...the 61.8% retracement from the July '10 low is at .60 and of course R1 on the daily is at .50, so there's velcro in this area of the chart
[14:25] {dino} "velcro", nice
[14:25] {nemo} ty
[14:25] {Threei} nemo has a way with words
[14:25] {nemo} here's this weeks spy levels: http://www.freestockcharts.com?emailChartID=1507e969-7fd3-4e1c-8efd-106f28b0179a
[14:25] {Threei} me, I'd simply say SPY ass is glued to sofa somewhere around here
[14:26] {Threei} can't see it wihtout silverlight
[14:26] {nemo} yeah, I tend to be more sesquipedalian
[14:27] {nemo} I'll send you a JPG
[14:27] {Threei} ty, but no worry
[14:27] {nemo} fine
[14:27] {Threei} I'll forget it in a few minutes
[14:27] {nemo} I won't send you a jpg
[14:27] {Threei} considr my memory span please
[14:48] {Threei} you were right on the upward
[14:48] {nemo} I think this trend continues until we test 116.70
[14:48] {nemo} unless of course we get an exogenous news event
[14:49] {RonS} jf returns to room?
[14:49] {nemo} Vad grows hair on his head
[14:49] {RonS} lol...too funny
[14:50] {nemo} probably not to vad...
[14:51] {Threei} why... I am giggling acrtually
[14:51] {Threei} -r
[14:51] {dino} tzoo bounces
[14:51] {nemo} can I get a bit more rudely personal?
[14:51] {Threei} depends on the target
[14:52] {nemo} you
[14:52] {Threei} no
[14:52] {nemo} oh
[14:52] {Threei} lol
[14:52] {nemo} damn, had a good line in that vein
[14:52] {Threei} ok, can't miss a chance to hear a good line
[14:52] {Threei} let's hear it
[14:52] {nemo} Of course, you could always have it transplanted from your back
[14:53] {Threei} nah... sorry, I hoped for more
[14:53] {nemo} sorry
[15:02] {Threei} nemo
[15:02] {nemo} vad
[15:02] {Threei} a few 5+earhquakes today
[15:02] {Threei} you promised end of the world in 2012
[15:02] {nemo} prep work
[15:03] {Threei} running ahead of schedule or what?
[15:03] {nemo} nah,,,,setting up the dominoes
[15:03] {Threei} ok
[15:03] {Threei} don't fortget to alert us if plans change
[15:03] {Threei} we need to adjust spending pattrens
[15:03] {nemo} sure
[15:04] {Threei} I firmly intend to owe about $5 million at the moment of world ending
[15:04] {nemo} we'll call you Steve Buscemi
[15:05] {Threei} Election 2012: Generic Republican 48%, Obama 43%
[15:05] {Threei} I want to shake the hand of generic republican
[15:06] {nemo} frankly, I'd like to see Ron Paul win
[15:06] {Threei} never gonna happen
[15:06] {nemo} nope
[15:07] {Threei} little dry old man intending to call home all military and abolish the fed - Presidnet?
[15:07] {Threei} haha
[15:07] {Threei} not in this millenium
[15:07] {nemo} yeah, much too practical
[15:09] {nemo} holy shit...didn't think we'd get 116.75 today
[15:09] {nemo} wow
[15:12] {Threei} impressive rally today
[15:12] {dino} ikts coming
[15:12] {dino} its
[15:12] {Threei} credit goes to nemo for early call on it
[15:12] {nemo} yeah
[15:12] {nemo} yeah, yesterday ;)
[15:12] {Threei} and trust me, it pains me to say that
[15:13] {nemo} Now that was a broken clock moment
[15:13] {nemo} Funny though...without the emotion of news
[15:14] {nemo} if you look at the spy, it tested a bottom three times and held
[15:14] {nemo} and it was a bottom that was a higher low from the one earlier in the month
[15:16] {nemo} Vad...remember (yeah right) how you said the daily looked horrible yesterday?
[15:16] {nemo} I look at the 4 hour alot, because with HFT and algorithmic trading I figure they figure everybody looks at the daily
[15:17] {nemo} Am I paranoid?
[15:17] {dino} no
[15:17] {Threei} not really, additional time frame provides additional insight
[15:17] {Threei} not sure HFT has much to do with it,
[15:18] {nemo} yeah, 4 hour very bullish
[15:18] {Threei} but volatility caused by general nervouseness and news flow does
[15:18] {Threei} daily still looks bad, even with today's fix-up
[15:18] {Threei} volume is dropping off on green candle, see?
[15:18] {dino} bigger issue, imo, will we drop 300 tomorrow?
[15:18] {Threei} exactly
[15:19] {nemo} http://jmckinley.posterous.com/dc-earthquake-devastation
[15:22] {dino} roflol
[15:54] {Threei} nice day, mostly thanks to that milk trade
[15:54] {Threei} not bad, considering that we don't perform too hot on slow creep-up days
[15:54] {Threei} thank you all, have a great evening
[15:54] {Threei} see you tomorrow
[15:54] {larisa} bye :)
[15:56] {dino} thx all, good time

Monday, August 22, 2011

Aug 22 2011

Perfect day with 7 calls, 7 wins. Catch of the Day is open break setup, annotations on chart should suffice

Session Time: Mon Aug 22 00:00:00 2011
[09:06] {Threei} (VZ) Venezuela plans to remove gold from the BOE; follows prior announcement Venezuela plans to remove its gold stored overseas back to domestic vaults - world press
[09:06] {Threei} - Reminder: On 8/16 reports circulated that Venezuela will move gold currently stored overseas to Central Bank vaults; Transferring "billions of dollars" of cash reserves to banks in Russia, China and Brazil.
[09:06] {Threei} - Note: Venezuela last week announced its intent to nationalize the gold industry.
[09:09] {nemo} wonder if the boats will sink in international waters?
[09:09] {Threei} lol
[09:11] {Threei} news from Europe get progressively worse, yet market focus moved on to jackson Hole
[09:11] {Threei} just imagine what happens in no QE3 announced
[09:11] {Threei} or hinted
[09:11] {Threei} ever saw 1000 points gap down?
[09:11] {nemo} this may be a Khadaffi bounce
[09:12] {nemo} my system won't handle it
[09:20] {dino} gm all
[09:20] {larisa} gm :)
[09:20] {Threei} dino :)
[09:20] {Threei} larisa :)
[09:20] {larisa} vad :)
[09:21] {dino} i really don't think markets expect qe3
[09:21] {Threei} I think market doesn't know what to expect./..
[09:22] {Threei} it's a lot of "one hand, on another hand"
[09:22] {Threei} on one hand, Ben has not much atrenative,
[09:22] {Threei} on anoter it didn't work in the past and dug deeper hole
[09:23] {Threei} on one hand Europe main economic powers want no euro bonds,
[09:23] {Threei} on another, there is no other way to stop the immediate collapse
[09:24] {Threei} indecisive and bipolar market jumps from desperation to hope to fear,
[09:24] {Threei} thus these wild swings
[09:27] {RonS} howdy all
[09:27] {Threei} Ron :)
[09:27] {Threei} no clear opening play,
[09:28] {Threei} and overall, want to stay on careful side - big gap up is not exactly our environment
[09:29] {Threei} SLW spread is wider than usual premarket
[09:31] {Threei} let's give it a min or two
[09:31] {Threei} SLW and RIMM on watch
[09:32] {Threei} Short Setup: RIMM .35 break
[09:32] {Threei} if stays under .45
[09:33] {Threei} Obama: Strongly Approve: 20%.. Strongly Disapprove 44%... Approval Index: -24
[09:33] {Threei} new all time low
[09:34] {dino} hate to see these big gap openings, they usuallt get filled at some point in time
[09:34] {Threei} 1:1 RIMM
[09:34] {Threei} half out, stop to .41
[09:35] {Threei} 1/4 more out
[09:35] {Threei} stop to .36
[09:36] {Threei} Long Setup: SLW .40 break
[09:37] {Threei} if holding .30
[09:37] {Threei} not a scalp
[09:37] {Threei} can do .80 easy
[09:37] {Threei} 1:1
[09:37] {Threei} 1/3 out
[09:38] {Threei} stop to .35
[09:39] {Threei} RIMM last piece is closed b/e
[09:39] {Threei} SLW 1/3 more out .65
[09:39] {Threei} stop to .39
[09:40] {Threei} offering last 1/3 .78
[09:40] {Threei} stop to .45
[09:41] {Threei} target hit
[09:41] {Threei} out in full, and want to go home
[09:43] {Threei} girls that wake up too late get no worm
06[09:43] * Threei slants at patience
[09:43] {Threei} Long Setup: FCX .40 break half lot
[09:44] {Threei} invalidated
[09:48] {Threei} not shorting FCX at 43 break is my only life regret this morning
[09:48] {Threei} had a good reason for skipping it though
[09:52] {dino} lulu sm l .26
[09:54] {dino} out lulu .67, +.41
[09:54] {Threei} wtg
[09:54] {dino} ty
[09:54] {Threei} http://t.co/uL787Id
[09:58] {Threei} The economy is so bad Exxon laid off 25 congressmen
[09:58] {Threei} lol
[10:00] {Threei} *(US) Q2 MORTGAGE DELINQUENCIES: 8.44% V 8.32% PRIOR; MBA MORTGAGE FORECLOSURES: % V 4.52% PRIOR
[10:00] {Threei} 4.43% V 4.52%
[10:04] {Threei} Long Setup: TZA .55 break half lot
[10:04] {Threei} valid from here if stays above .35
[10:05] {Threei} let's change to .50 break
[10:05] {Threei} in
[10:05] {Threei} stop is the same, under .35
[10:05] {Threei} half out
[10:05] {Threei} .71
[10:05] {Threei} out in full .95
[10:05] {Threei} diaper change time
[10:06] {nemo} missed the break
[10:06] {RonS} got .38 to .98 thanks 3i
[10:06] {Threei} :)
[10:06] {Threei} Short Setup: FCX 42 break
[10:07] {Threei} invalidated
[10:13] {Threei} wow TZA
[10:13] {Threei} exited a little bit too soon
[10:13] {Threei} just a tad, like 50 cents
[10:13] {nemo} went to pivot and pulled back
[10:15] {RonS} sgen sm l .35
[10:18] {Threei} couple moves by RIMM that in retrospect were tradeable...
[10:18] {Threei} missed them
[10:21] {dino} chk sm l .04
[10:23] {dino} gpor sm l .07
[10:25] {RonS} out sgen .65 +.30
[10:27] {dino} gj
[10:27] {RonS} ty
[10:37] {dino} sm l .98 idcc
[10:38] {Threei} Long Setup: RIMM 27 break
[10:40] {dino} stop idcc -.31
[10:40] {Threei} 1:1
[10:40] {Threei} out in full, just a scalp for me
[10:45] {Threei} 4:4
[10:45] {Threei} I must ask again
[10:45] {Threei} can I go home?
[10:46] {RonS} home is doghouse?
[10:47] {Threei} permanently, yes
[10:47] {Threei} sometimes I do get a pass for the evening
[10:48] {Threei} if I behave... which is rarity
[10:48] {RonS} hehe, know the feeling or is it condition...
[10:49] {dino} idcc sm l .65
[10:51] {dino} out idcc .31, +.66
[10:51] {RonS} scalped idcc .92 to 63.30 thanks dino
[10:51] {dino} gj
[10:53] {RonS} dino, in chk .05...watcha thinkin for a target? no read here
[10:54] {dino} .45
[10:54] {dino} but stop is .83
[10:54] {Threei} hmm
[10:54] {Threei} no news
[10:57] {dino} pretty good drop
[10:58] {nemo} we're going to test the bottom more than likely
[11:01] {Threei} you nean 110.20 bottom?
[11:01] {nemo} Friday's
[11:01] {Threei} oh that
[11:01] {nemo} hitting minor price support here
[11:06] {dino} gpor stop is .83, back in 20
[11:18] {Threei} FCX setup is bweck
[11:18] {Threei} back
[11:18] {Threei} Short Setup: FCX 42 break
[11:21] {dino} chk stopped -.21
[11:21] {Threei} not a scalp for me, FCX
[11:23] {dino} gpor stop -.24
[11:24] {Threei} 1:1
[11:24] {dino} here come the open gap fills
[11:25] {Threei} that's 5:5 today... thomd, this must be for you
[11:25] {Threei} proper way to welcome new member
[11:26] {thomd} Yes, great day, missed one though, thanks
[11:27] {dino} gj
[11:38] {Threei} it's quite remarkable that such large upward gaps get eliminated intraday
[11:38] {Threei} telling too
[11:45] {Threei} COMP went red
[11:48] {dino} lulu sm l.70
[11:49] {dino} chk sm l .53
[11:55] {dino} lulu stop -.25
[11:55] {dino} chk stop -.16
[11:59] {dino} lulu rinsed
[12:06] {dino} ppo sm l .94 ave
[12:09] {dino} gpor sm l .17
[12:13] {dino} chk rinsed
[12:19] {dino} chk sm l .50
[12:56] {dino} out ppo .04, +1.10
[12:57] {nemo} tza around here
[12:57] {patience} you're busy dino...only scalped slw and fcx today
[12:58] {dino} too busy earlier, a few stops
[13:01] {dino} gpor out ave .48, +.31
[13:03] {nemo} watching for lower high on spy and iwm
[13:05] {nemo} wm at pivot
[13:25] {dino} out chk .80 +.30
[14:06] {RonS} hearing O tv soon...
[14:06] {Threei} on libya
[14:13] {RonS} not on his invasion of martha's vineyard?
[14:13] {Threei} lol
[14:30] {RonS} hearing O off...to finish the back nine...
[15:15] {Threei} time for end of day bets?
[15:15] {Threei} IMO, red
[15:16] {nemo} think it ends near pivot and vwap, which are positive and very close together
[15:19] {Threei} so... beer?
[15:19] {Threei} my bet is SPY ends red
[15:19] {nemo} ok
[15:20] {Threei} larisa... carrot juice?
[15:20] {Threei} Chaeron... vodka?
[15:20] {Threei} can't betr maryini, Raven is not here
[15:20] {Chaeron1} won't take the bet, but will take the Pertsovka...
[15:20] {Threei} hmmm
[15:21] {dino} beer here, close dji +100
[15:25] {Threei} ok... larisa's carrot huice is last bet left unclaimed
[15:32] {Threei} .long tza around .60 on pullback
[15:32] {Threei} Long Setup: TZA around .60 on pullback
[15:35] {Threei} no pullback
[15:36] {Threei} Short Setup: RIMM .60 break
[15:41] {RonS} ...need jf...
[15:41] {Threei} that slacker
[15:41] {patience} you in tza vad?
[15:42] {Threei} no, never got pullback to my entry point
[15:42] {Threei} right idea, no clean entry
[15:44] {Threei} let's trail RIMM to .66
[15:44] {Threei} time is running out
[15:44] {Threei} want to keep risk tigther
[15:47] {Threei} beautiful TZA
[15:47] {Threei} right into .60 and sharply up
[15:48] {Threei} RIMM 1:12
[15:48] {Threei} 1:1
[15:48] {Threei} out TZA
[15:48] {Threei} out RIMM
[15:48] {Threei} all I need now is red close, to have that beer
[15:48] {nemo} didn't know tza was a setup again
[15:49] {Threei} didn't want to make it official call this close to close
[15:49] {Threei} not even speaking of having time to call it
[15:50] {Threei} die SPY
[15:50] {Threei} 20 cents
[15:50] {Threei} half way there
[15:51] {Threei} 10 cents
[15:52] {Threei} 5
[15:52] {Threei} white
[15:52] {Threei} rrrred
[15:52] {Threei} redder
[15:53] {Threei} The Goldman Sachs Group Inc Ticks lower following a press report that CEO Blankfein has hired a defense lawyer- Said to have hired Reid Weingarten who defended former Worldcom CEO Bernard Ebbers.
[15:54] {Threei} ok, now I need time to run faster, lest I get caught like that ime with larisa bet
[15:54] {Threei} when everything went my way, then recovered on last minute, lol
[15:55] {larisa} it is not the end until it ends, before that - it is all just "progress" :)
[15:55] {Threei} yeah... where is that fat lady
[15:55] {Threei} time to sing
[15:57] {Threei} oh come on
[15:58] {Threei} back in red
[15:58] {Threei} lady!!!
[15:58] {Threei} sing already
[15:59] {Threei} this time you guys won't be saved by the bell
[15:59] {dino} grrrr
[15:59] {Threei} hehe
[15:59] {Threei} isn't it fun
[15:59] {Threei} zero
[15:59] {Threei} sheesh
[16:00] {nemo} I win
[16:00] {Threei} where is the gun
[16:00] {Threei} second time this happens
[16:00] {nemo} what's more, this is looking long for tomorrow
[16:00] {Threei} no way
[16:01] {Threei} this looks worse by day
[16:01] {Threei} ok guys, thank you all
[16:01] {Threei} have a great evening
[16:01] {Threei} see you tomorrow
[16:01] {dino} gn all
[16:01] {larisa} bye :)

Friday, August 19, 2011

Aug 19 2011

Profitable but boring day. Let me treat you to a little video - quick look at the current moment in the markets.

Session Time: Fri Aug 19 00:00:00 2011
[08:55] {Threei} I have to face the reality: it's time to wake up
[08:55] {RonS} gm...quote from Trichet?
[08:56] {Threei} lol
[08:56] {Threei} no, they are way behind me
[08:57] {Threei} last thing I saw yesterday on news wire wqere Europian CDS
[08:57] {Threei} sheesh, they all go up and up
[08:59] {Threei} here is morning uodate:
[08:59] {Threei} (EU) European 5-year credit default swaps (CDS) wider in mid-European morningPeripheral - Spain 5-year Credit Default Swap at approx 370bps, wider by almost 10bps - Portugal 5-year Credit Default Swap at approx 885bps, wider by almost 10bps - Italy 5-year Credit Default Swap at at approx 365bps, wider by almost 15bps Core Europe - France 5-year Credit Default Swap at at approx 155bps, wider by over 5bps - Germany 5-year Credit Default Swap at at approx 81bps, wider by 1 basis point
[08:59] {Threei} (GE) Germany's Economic Minister Roesler said that his party (FDP) will not support a financial transactions tax if it only affects the euro zone and not the 27-country EU - German Press**Note: Earlier during the week, Germany's Chancellor Merkel reached an agreement with France's President Sarkozy regarding a EU financial transactions tax.
[09:02] {Threei} lol, read this:
[09:02] {Threei} EU Commissioner Rehn: Establishing euro bonds would enforce fiscal discipline in the euro zone
[09:02] {Threei} - Follow Up 8:00 ET: Portugal President questions French-German fiscal discipline proposal
[09:02] {Threei} ***Note that German political figures and most ECB members have repeatedly warned that euro bonds would undermine fiscal discipline in the euro zone.
[09:05] {RonS} heh, did you see where the french had to lift the short ban so people could roll their futures protection...the solution is exacerbating the problem...
[09:06] {Threei} yes, lol
[09:06] {Threei} idiots not understanding the mechanism make decisions...
[09:10] {RonS} ...in the meantime people are voting w/ their feet...the third young adult in te past six months from our little cul de sac is moving overseas for work...
[09:10] {Threei} overseas as in Canada?
[09:10] {RonS} china, okinawa, japan
[09:10] {Threei} :)
[09:11] {Threei} still laughing remembering idiot salesperson in NY... asked him whether they ship to Canada, he said sorry, no shipping overseas
[09:11] {RonS} well there is the st lawrence river...lol
[09:12] {Threei} true
[09:14] {dino} gm all
[09:14] {Threei} dino :)
[09:18] {RonS} wow, hpq smacked...
[09:18] {Threei} yeah
[09:18] {Threei} their tablet is in troubles
[09:19] {Threei} ASUS eats their lunch
[09:19] {Threei} interestingly RIMM is gapping up
[09:19] {RonS} jeffries called bottom...
[09:20] {Threei} but they assigned 25 target, lol
[09:20] {Threei} do these people have quotes?
[09:21] {RonS} thanks, did not see that...
[09:21] {Threei} RIMM Jefferies Raised RIMM to Hold from Underperform, price target: $25
[09:23] {RonS} so, if gs breaks $110 is it going for a $100 test?
[09:24] {Threei} who knows
[09:24] {Threei} highly liquid situation
[09:24] {larisa} gm :)
[09:24] {Threei} larisa :)
[09:25] {larisa} vad :)
[09:28] {Threei} LVS
[09:28] {Threei} keeping an eye for possible short
[09:29] {Threei} spread...
[09:31] {Threei} Short Setup: LVS .40 break
[09:31] {Threei} hmm
[09:31] {Threei} lol
[09:31] {Threei} invalidated
[09:31] {Threei} (in case you wondered)
[09:33] {Threei} what the deuce
[09:33] {nemo} we're down so much overnight, bounced off premarket lows in iwm and damn close in spy
[09:33] {Threei} this is the only news I see
[09:33] {Threei} (GR) Greece objects to earlier press reports that 2011 Greek GDP would contract 5.2%, denies that budget deficit will reach 8.0-8.5% - US financial press ***Note that earlier in the session, the Greek fin min said that 2011 GDP would contract by over 4.5%
[09:33] {nemo} think it's technical bounce
[09:34] {Threei} a bit too sharp
[09:34] {Threei} (US) Fed's Dudley: Have seen nothing to be worried about in European banks in recent Fed observations; financial insitutions in a better position now than a few years ago
[09:35] {dino} lol, just like no stock bubble in 2000 or housing bubble in 07
[09:36] {Threei} Short Setup: SLW .30 break
[09:37] {nemo} with price of silver today, oy
[09:37] {Threei} invalidated
[09:37] {Threei} you mean, SLW won't pull back today?
[09:38] {nemo} of course not, but the miner related stocks can't stay down against the underlying forever
[09:38] {nemo} gold up $200 over the last couple of weeks and the gdx barely budged
[09:39] {Threei} crap, missed .50 break call
[09:40] {dino} gpor sm l .50
[09:42] {Threei} Short Setup: RIMM .95 break
[09:43] {Threei} stop above 27.05
[09:44] {Threei} 1:1
[09:46] {Threei} 1:2
[09:46] {Threei} 1:3, out
[09:47] {dino} out gpor ave .89, +.39
[09:47] {dino} back in 30
[09:48] {Threei} EIMM continues
[09:48] {Threei} RIMM
[09:51] {Threei} Short Setup: FCX .30 break
[09:52] {Threei} stop above .40
[09:54] {Threei} 1:1
[10:01] {RonS} uh oh...: http://tinyurl.com/4y6uepd
[10:07] {Threei} strange market this morning
[10:08] {Threei} funny spot about camel herder in that article, Ron
[10:08] {nemo} futures pits are wild
[10:08] {nemo} cash coming back in now
[10:13] {Threei} Short Setup: FCX .50 break
[10:15] {Threei} US Dollar vs Japanese Yen *USD HITS FRESH ALL-TIME LOWS IN PAIR BELOW 76.27
[10:15] {Threei} no go
[10:17] {nemo} spy going to 115.80 most likely
[10:25] {Threei} Long Setup: FCX 44 break
[10:28] {Threei} 1:1
[10:28] {Threei} a bit nervous trade but works
[10:29] {nemo} spy hit target
[10:29] {Threei} good forecats
[10:29] {nemo} weekly pivot
[10:29] {Threei} with 3:4, I have to admit I don't have a good feel for today's market
[10:29] {dino} .
[10:30] {Threei} what's your point dino?
[10:30] {dino} i'm back
[10:30] {Threei} ok... it's valid point
[10:31] {Threei} 1:2, I am out
[10:31] {dino} gj
[10:31] {Threei} maybe it deserves more but as I said, no good feel
[10:32] {dino} rumors emergency fed mtg this weekend, realmoney/kass
[10:32] {nemo} all they can do is agree to print more money
[10:33] {dino} i think thats what they will do for the euro, inflate it away
[10:42] {Threei} http://pointsandfigures.com/2011/08/19/one-way-out/
[10:46] {nemo} bohica moment coming
[10:46] {dino} ?
[10:47] {nemo} dcc dino
[10:48] {dino} lol
[10:48] {dino} fubar market
[10:48] {nemo} snafu
[10:56] {dino} csh sm l .50
[11:07] {nemo} tna long here
[11:07] {nemo} out under .30
[11:11] {nemo} bummer
[11:15] {dino} csh stop
[11:18] {dino} ppo sm l .75
[11:31] {dino} csh rinse
[11:54] {RonS} caught csh .30 to .60 thanks for the idea dino...
[11:59] {dino} gj ron
[11:59] {dino} hitting .90s
[12:00] {Threei} (EU) ECB's Stark: ECB is intervening in markets because they are not functioning correctly, it is not the bank's job to lower rates to aid debt or finance govt deficits - Austrian press
[12:00] {Threei} - Bond spreads are overshooting by extreme amounts, banks using PSI have a full guarantee of zero losses.
[12:01] {Threei} - It is irresponsible to refer to the ECB as a bad bank
[12:01] {Threei} - Insists that the ECB bond buying program (SMP) does not create inflation risks.
[12:01] {Threei} - Retorts that the ECB has not taken on risks as great as some other central banks.
[12:01] {Threei} **Note: Stark was one of the 4 ECB governing council members who voted against the recent plan to reactivate the SMP, along with Bundesbank's Weidmann.
[12:01] {dino} where is ese, he always says they don't interefere
[12:01] {Threei} well, as irony would have it, he is in Europe
[12:02] {dino} lol
[12:02] {RonS} in denmark interfering with their peace and quiet...
[12:02] {Threei} for 10 days more :)
[12:24] {dino} out ppo .18, +.43
[12:24] {Threei} nice
[12:25] {dino} ty
[12:27] {Threei} (FR) France PM Fillon: A joint euro bond process would raise interest rates for France debt and consequently create risk for credit rating
[12:58] {Threei} http://www.facebook.com/video/video.php?v=121615047937446&oid=235739863127363&comments
[13:04] {RonS} your first two points were almost word for word from John Bollinger on Fast Money last night...fwiw...nice presentation btw
[13:04] {Threei} seriously?
[13:04] {RonS} yep
[13:04] {Threei} cool beans
[13:05] {Threei} but he of course failed to mention third one, right? {GGG}
[13:06] {RonS} well...actually it was covered by other partcipants and bollinger parsed those points w/ the possibilty that there could be another lower band pierce
[13:07] {Threei} OK... do I have ti swear now that I haven't seen that? :)
[13:07] {RonS} i for one here do not believe you watch fetv...
[13:08] {Threei} ummm... what's fetv, LOL
[13:08] {Threei} I can decipher financial and tv
[13:08] {Threei} e?
[13:08] {RonS} financial entertainment tv
[13:08] {Threei} oh
[13:09] {Threei} CNBC, or something else is included in that?
[13:10] {RonS} ...before i go to bed i watch bloomberg tv for 5 min to get a flavor for asia and eur futes...the broads there are gorgeous and spew absolute bs such that i want to choke them
[13:12] {Threei} rofl
[13:14] {dino} lol
[13:15] {Threei} larisa... I think my accent imporved from yesterday
[13:15] {larisa} greatly :)
[13:15] {Threei} ty
[13:15] {Threei} lol
[13:16] {larisa} i did not watch it yet though :)
[13:16] {Threei} sigh
[13:16] {Threei} you risk your 4th keyboard
[13:16] {RonS} man, that is funny larisa...
[13:17] {larisa} :)
[13:17] {nemo} yeah, Russian Lerch
[13:17] {Threei} lerch?
[13:18] {nemo} Ted Cassidy
[13:18] {nemo} lurch actually
[13:18] {RonS} a dude on the Addams Family '60's tv show
[13:18] {nemo} http://www.google.com/search?q=lurch&hl=en&client=firefox-a&hs=vfT&rls=org.mozilla:en-US:official&biw=1500&bih=1196&prmd=ivns&tbm=isch&tbo=u&source=univ&sa=X&ei=zJpOTs7lC9GSgQe00JD1Bg&sqi=2&ved=0CFUQsAQ
[13:18] {nemo} you have a deep voice like his
[13:18] {larisa} yup, looks exactly like me :)
[13:19] {larisa} oh, you are saying Vad sounds like him :)
[13:19] {Threei} just sound... I am nowhere that handsome
[13:20] {RonS} http://www.youtube.com/watch?v=YK0Q2aPhB_I
[13:20] {Threei} well, dancing - yes, a lot in common
[13:21] {Threei} if I danced it would be very close
[13:21] {Threei} got any with him speaking?
[13:21] {dino} idcc sm l ave .27
[13:22] {RonS} all he ever did was moan in a very deep voice
[13:22] {Threei} oh, like me then
[13:22] {Threei} lol, http://www.youtube.com/watch?v=09FOdCdrDNs&NR=1
[13:22] {Threei} got the idea
[13:22] {nemo} "You Rang"
[13:23] {RonS} http://www.youtube.com/watch?v=lClaQLsBb-4&feature=grec_index
[13:24] {nemo} He did play piano
[13:24] {RonS} had never seen this clip...lol
[13:25] {Threei} hey, he plays piano like me too!
[13:27] {nemo} tna bounced here before with syp
[13:28] {nemo} spy
[13:28] {nemo} ysp
[13:28] {nemo} yps
[13:28] {nemo} yep
[13:29] {nemo} is that a pennant forming on spy?
[13:30] {nemo} it might be rabbit, it might
[13:35] {Threei} (VZ) S&P lowers Venezeual rating to B+ from BB-; outlook Stable
[13:35] {nemo} is that based on a psych evaluation of Chavez?
[13:35] {Threei} lol
[13:36] {Threei} probably not, "stable" kind of excludes that
[13:36] {RonS} did he beat cancer?
[13:37] {RonS} ppo sm l .80
[13:41] {dino} nationalized miners
[13:41] {RonS} made them cuban?
[13:42] {dino} chavez
[13:42] {RonS} jus kidding...
[13:45] {RonS} out ppo -.30
[13:53] {dino} sgen
[13:55] {RonS} FDA approves Adcetris
[13:55] {RonS} Label allows use in pts who have not received ASCT as long as they have prior chemo. This is unexpected after the ODAC comments.
[14:02] {dino} ppo sm l .60
[14:03] {Threei} 55% Say Their Home Worth More Than What They Owe
[14:05] {dino} i hope so considering lots of people have been in their homes 20+ years
[14:07] {dino} app lod
[14:10] {RonS} caught sgen .58 to .90 thanks dino
[14:19] {dino} ppo stop -.30
[14:22] {dino} broke yesterday lows
[14:22] {Threei} Interactive Brokers sends notice warning of possible increase in Gold margins soon
[14:24] {dino} gaps 10716, 1120
[14:24] {nemo} s2 on spy 113
[14:27] {nemo} pre market low in spy was 112.67
[14:42] {dino} csh sm l .99
[14:43] {dino} ppo sm l .90
[14:58] {dino} tzoo sm l .10
[15:10] {dino} stop csh ppo
[15:12] {dino} tzoo too
[15:17] {Threei} look at today's bar foreming, at the volume, and return to that video I uploaded today,
[15:18] {Threei} see how if we end in red and volume increases to about yesterday, double bottom scebnario becomes less and less likely?
[15:18] {nemo} we'll probably get some short covering now
[15:24] {dino} good call nemo
[15:24] {dino} tzoo rinsed
[15:24] {nemo} spy bounced right at weekly S1 support
[15:25] {nemo} take a look, http://www.freestockcharts.com?emailChartID=49dacaf1-dca4-4067-83e4-e75b413f7abf
[15:25] {nemo} and the high for today, touched weekly pivot
[15:30] {nemo} be funny if spy goes for vwap
[15:31] {nemo} Dino, see how semesterly S3 played a role last couple of days, and there's no price action around that level
[15:35] {Threei} (US) Goldman Sachs' Abby Joseph Cohen: Equity markets are pricing in several years of no earnings growth; This does not appear a likely scenario
[15:35] {Threei} - CNBC- Notes companies' strong corporate balance sheets with sufficient cash to add to workforce.
[15:35] {Threei} - This is not 2008; Banks are well capitalized. Tier 1 ratios are above 10%.
[15:35] {dino} yes
[15:36] {dino} feels like 1120 gap fill coming
[15:44] {Threei} Short Setup: RIMM .60 break
[15:44] {Threei} if stays under .70
[15:45] {Threei} aggressive entry for .50 break
[15:45] {Threei} loss of .50 should kill it
[15:46] {nemo} short covering
[15:47] {nemo} people afraid of weekend intervention
[15:57] {Threei} well, they are afraid of being long just as well, lol
[15:58] {larisa} bye :)
[15:58] {Threei} boring but profitable
[15:59] {Threei} thank you all, have a good evening
[15:59] {Threei} see you tomorrow
[15:59] {Threei} wow
[15:59] {Threei} finishish at the low
[15:59] {Threei} and making new ones
[16:01] {dino} dropped fast
[16:01] {nemo} you'll see us Monday
[16:01] {dino} gn all
[16:01] {Threei} oh yes
[16:02] {Threei} it's weekend
[16:02] {Threei} tells you how well adjusted I am
[16:02] {Threei} buit I made cool video
[16:02] {Threei} Bolinger agreed with me
[16:02] {Threei} on how to use his bands