Dec 17 2010

Total opposite of yesterday - everything worked like charm, trade after trade - traditional for us names like CAT and some of volatile new ones, like V and ITMN.


This setup is so cookie-cutter and the chart is so clear, I'll leave you with no text - annotations explain everything.

Session Time: Fri Dec 17 00:00:00 2010
[08:10] {magoo} morn
[08:10] {magoo} ITMN
[08:10] {magoo} news?
[08:12] {Threei}  ITMN EU's CHMP recommends granting marketing authorization for Esbriet (pirfenidone)
[08:12] {Threei}  this childish curiosity of yours... and so early...
[08:31] {magoo} ok, found news ITMN
[08:31] {magoo} was up 19 point
[08:31] {Threei}  found?
[08:31] {magoo} on a 14 dollar stock
[08:31] {Threei}  08:12] {Threei} ITMN EU's CHMP recommends granting marketing authorization for Esbriet (pirfenidone)
[08:32] {magoo} i was booted off, iternet
[08:32] {Threei}  just how long did you have to go to find it?
[08:32] {magoo} no history
[08:32] {magoo} RIMM peaked 62.29 afterhours
[08:35] {nemo} you short itmn mags?
[08:36] {magoo} that was idea, internet gremlins ghad other plans
[08:36] {nemo} ahhh
[08:36] {magoo} logged in it was 33 area, thinkin short and lost connection
[08:37] {Threei}  V
[08:37] {Threei}  .40 is nice support so far
[08:37] {Threei}  sdtrong bids at .45
[08:37] {nemo} yeah, very readable paly at :06
[08:37] {nemo} play
[08:44] {magoo} vad where 67.40?
[08:44] {nemo} 68
[08:50] {nemo} Jailbreak over 69, Visa?
[08:51] {Threei}  well, not after some pullback/consolidation
[08:51] {Threei}  nopt before I mean
[08:52] {Threei}  severe lack of sleep
[08:52] {nemo} X.
[08:52] {Threei}  marks the spot?
[08:53] {nemo} Stock
[08:57] {Threei}  hah
[08:57] {Threei}  here is interesting twist:
[08:57] {Threei}  eBay Inc Analysts at Tier-1 bank note that Fed's new lower debit fee recommendations would benefit company- Fed recommended a fee of $0.07-0.12 vs $0.44 prior which benefits Paypal as it lowers its debit card transactions
[08:58] {nemo} Lowering the transaction fees probably yearly credit card fees for consumers
[08:58] {magoo} magoo crying at deask, missed short itmn
[09:05] {ese} gm
[09:05] {Threei}  ese :)
[09:06] {Threei}  as much as charts are indicative at this point, and it's admittedly not too much, V is long on .90 break
[09:11] {ese} The Bank of Montreal has expanded its U.S. presence by about 50 per cent with the $4.1-billion US purchase of Marshall & Ilsley Corp. of Milwaukee, Wis.    Read more: http://www.cbc.ca/money/story/2010/12/17/bank-montreal-marshall-ilsley.html#ixzz18NValy1s
[09:12] {ese} I would suggest to our southern neighbors that they deposit there money there
[09:12] {Threei}  all of it
[09:12] {ese} much more stable banking system here
[09:13] {dino} gm all
[09:13] {Threei}  but mainly, ese and I set up the way to funnel it in our secet account
[09:13] {Threei}  dino :)
[09:13] {harth} Good Morning All!
[09:13] {ese} indeed
[09:13] {Threei}  so your deposit will fund our retirement
[09:13] {Threei}  which is a nioble cause
[09:13] {ese} definitely
[09:13] {Threei}  harth :)
[09:14] {larisa} gm :)
[09:14] {Threei}  larisa :)
[09:14] {larisa} vad :)
[09:14] {ese} laris
[09:14] {larisa} es :)
[09:18] {ese} 17 Dec 2010 06:12   [USD/CAD] Dealers noted that more USD buy-stops building above 1.0150 area. TradeTheNews.com Tip Line -} Click Here
[09:19] {Threei}  V is honestly trying
[09:19] {ese} Does that mean that they are expecting the Canadian dollar to fall
[09:19] {Threei}  if breaks that barrier, yes
[09:20] {Threei}  V seller holds the line at 69 so far
[09:20] {Threei}  gave up
[09:21] {Threei}  out +.30
[09:22] {nemo} Rim
[09:32] {Threei} Short Setup: CAT  .20 break half lot
[09:32] {Threei}  if stays under .30
[09:33] {Threei}  1:1
[09:35] {nemo} oh oh V
[09:35] {magoo} MA crushed
[09:35] {Threei}  1:2
[09:36] {nemo} By testing morning low
[09:37] {nemo} Spy
[09:37] {Threei}  .short bby .50 break
[09:37] {Threei} Short Setup: BBY  .50 break
[09:37] {Threei}  if stays under .60 for scalpers, .65 day traders
[09:37] {Threei}  not a scalp to me
[09:44] {Threei} Short Setup: X  .60 break if stays under .70
[09:45] {Threei}  which is actually aggressive entry for .50 break
[09:45] {Threei}  invalidated
[09:47] {Threei}  BBY looks better and better for that short if ever triggers
[09:49] {dino} got booted; out bmo, .85, +.75
[09:49] {Threei}  nice
[09:52] {Threei}  ok BBY
[09:52] {Threei}  it's time
[09:52] {Threei}  lose that floor and die
[09:52] {magoo} .30 area ?
[09:52] {Threei}  at the very least
[09:53] {Threei}  most likely more
[09:53] {magoo} in .53 aggr
[09:53] {magoo} same stop
[09:53] {Threei}  it has minor support around 1:1, and nothing but air under that
06[09:57] * Threei kicks the chair from under BBY
[09:57] {dino} ctrp sm l .95
[09:57] {magoo} and magoo kicks bby in ribs while down
[09:58] {Threei}  we need someone to hit it over the head with 2x4, and violence might just be enough to kill it
[09:58] {magoo} nemo??
06[09:58] * Threei slants at nemo
[09:58] {Threei}  lol
[09:58] {ese} L teva .28
06[09:58] * nemo drives a 10 penny nail through BBy's kneecap
[09:58] {larisa} or pick stock that is more alive? :)
[09:58] {Threei}  wow CAT went to 1:4 after our 1:2 cover... just noticed
[09:59] {Threei}  larisa, what's with picking easy eays to live...
[09:59] {magoo} dont wanna look
[09:59] {magoo} roflol nemo
[10:00] {Threei}  (IR) IMF: Irish govt will need to make more cuts to reach budget targets
[10:00] {Threei}  heh
[10:00] {magoo} ITMN
[10:02] {Threei}  nemo was that last straw I guess
[10:02] {magoo} the nail did it capn
[10:02] {dino} itmn hod
[10:02] {ese} ok ...i officially do not like the way teva trades....will be outta here as soon as possible
[10:03] {nemo} HOD as 34.78 premarket
[10:03] {ese} damn does it bounce around
[10:03] {Threei}  UN Food and Agriculture Organization (FAO): World food prices may reach record high by end of 2010
[10:03] {dino} thx
[10:03] {Threei}  no inflation says you
[10:03] {ese} aye.....that not be the case
[10:10] {ese} out teva .10 -.18    that was not the way i wanted to start my day
[10:11] {magoo} V lows vad
[10:11] {Threei}  67 break, could be
[10:12] {Threei}  keep shares small and stop religiously
[10:12] {magoo} selling pics up
[10:12] {Threei}  thankfully invalidated
[10:24] {dino} msb luv today
[10:27] {Threei} Short Setup: CAT  .70 break
[10:31] {RonS} eur losing it
[10:31] {Threei}  as it well should
[10:33] {dino} indeed
[10:37] {Threei}  out BBY
[10:37] {Threei}  not liking this spike
[10:40] {Threei}  (US) Wikileaks Assange: We will be releasing more material on US banks (related XLF BAC )
[10:40] {Threei}  release it already
[10:43] {nemo} What is Max Payne on the spy today
[10:43] {Threei}  CAT 1:1
[10:43] {magoo} lower?
[10:43] {magoo} .30 area?
[10:43] {Threei}  most likely
[10:44] {Threei}  just manage it as usual
[10:44] {Threei}  and let the nature take its course
[10:44] {RonS} eur still sliding...should help cat trade
[10:45] {ese}  MAGS!!!!!!!! rimm long ?
[10:45] {magoo} NO
[10:45] {ese} really
[10:45] {magoo} futes cominf down
[10:45] {ese} ahhhh ok
[10:45] {magoo} ugly futes
[10:46] {ese} i'll say.......
[10:46] {Threei}  over 1:2
[10:46] {ese} very intuitive by the way
[10:46] {magoo} like bidu sh NOT IN
[10:46] {Threei}  1;3
[10:47] {Threei}  1:4 actually... lost my math skills
[10:48] {ese} it beat handily this morning.........it's gotta go up ya think?
[10:51] {dino} bmo sm l .15
[10:53] {Threei}  - Assange comments that attacks on Wikileaks have not been primarily by governments but by banks; specifically cites attacks by banks in Switzerland and Dubai ***Reminder: Back in late November, a widely circulated Forbes interview earlier had quoted Wikileaks Editor in Chief Assange as saying his next Wikileaks release may bring down "1 or 2 US banks" given the "tens of thousands of its documents that reveal some sort of unethical behavior,", and in the interview Assange did comment that Wikileaks has not notified the subjects at the heart of the release. Also in the interview Assange mentioned he had leaks on Pharmaceutical, Energy, and Financial companies.
[10:56] {Threei}  mags, you covered CAT?
[10:56] {Threei}  that was I suspect the best trade of the day
[10:58] {nemo} stopped bmo .10
[10:58] {nemo} and rinsed
[10:58] {magoo} yup.27
[10:58] {magoo} ty
[10:58] {Threei}  perfect
[11:04] {magoo} ITMN nuts again
[11:04] {Threei}  lol
[11:04] {Threei}  nuts is understaetemtn
[11:05] {magoo} i like these
[11:07] {nemo} and a rinse on bmo of course
[11:07] {Threei}  CAT chart goes in catch of the day, don't forget to look at it
[11:07] {Threei}  and btw, everyone studied that chart two days ago?
[11:08] {Threei}  http://tradinglog.realitytrader.com/2010/12/dec-14-2010.html
[11:08] {Threei}  it's a must
[11:08] {dino} where you get in bmo nemo?
[11:11] {nemo} .22 and got stopped out at .10
[11:14] {dino} in from .15
[11:15] {nemo} yeah, played break didn't work, got below my stop
[11:15] {nemo} nothing but rinses this week
[11:18] {nemo} and what a rinse that was geez
[11:19] {nemo} what was your stop, under 57?
[11:19] {dino} .94
[11:21] {Threei} Short Setup: ITMN  .40 break
[11:21] {Threei}  half lot
[11:22] {Threei}  .55 stop
[11:22] {Threei}  1:1
[11:22] {Threei}  1:2
[11:22] {Threei}  nice and easy
[11:23] {nemo} veco 41 break might be a play
[11:24] {dino} upgraded jpm
[11:26] {nemo} iffer 60 itmn
[11:26] {nemo} offer
[11:26] {dino} in .00 sm
[11:26] {dino} veco
[11:28] {jfjf64} mornin
[11:28] {dino} ioc
[11:28] {Threei}  hey jf
[11:28] {jfjf64} hey  hey
[11:28] {Threei}  where have you been... great day here
[11:28] {jfjf64} 3i
[11:29] {jfjf64} runnin  around  wife killin  me
[11:29] {jfjf64} good day
[11:29] {Threei}  running around wife?
[11:30] {jfjf64} xmas  shoppin  w
[11:30] {jfjf64} my  bad
[11:30] {jfjf64} thought  day  wd be  waist
[11:30] {Threei}  the worst part isd - magoo is banking without you
[11:31] {Threei}  well, I do tend to bounce back rather strongly next day after losing one... :)
[11:31] {Threei}  don't forget to look catch of the day chart today
[11:31] {Threei}  and if you missed ne from Dec 14, don't even speak to me
[11:32] {jfjf64} what  stock
[11:32] {Threei}  CAT
[11:32] {nemo} If this 41 seller ever... VECO
[11:34] {jfjf64} im  gonna say bounce  92.70 support
[11:34] {jfjf64} 10.03
[11:35] {jfjf64} guess not
[11:36] {jfjf64} will lk  blog  later
[11:36] {nemo} bidu long here?
[11:36] {Threei}  50/50
[11:36] {Threei}  can break down just as easily
[11:36] {nemo} sorry about veco dino
[11:37] {nemo} spy getting ready to make run, we can't close in the red you know
[11:38] {dino} np, my trade
[11:43] {magoo} any read itmn vad?
[11:45] {magoo} ctrp spike dino
[11:46] {Threei}  you took last one?
[11:47] {magoo} yea...
[11:48] {magoo} but you are reading mkt very well today, so lets exploit that and make some dough
[11:48] {magoo} anyone like that idea
[11:49] {jfjf64} jf  likes
[11:49] {jfjf64} lots
[11:49] {magoo} when i asked i liked itmn short loss of .00
[11:51] {nemo} rimm on 5 min chart
[11:52] {dino} veco stopped -.27
[11:53] {jfjf64} nemo  wedge forming?????
[11:55] {nemo} pennant, sorry jf
[11:56] {Les} all is quiet on the western front?
[11:57] {Threei}  actually very good day
[11:57] {Les} in what?
[11:57] {jfjf64} read  blog  les
[11:57] {nemo} who left the door open
[11:57] {jfjf64} we workin
[11:57] {Les} piss off jf
[11:57] {jfjf64} lol
[11:58] {Threei}  CAT, ITMN
[11:58] {Les} aaah what play in ITMN?
[11:58] {Les} was watching it at the open
[11:58] {Les} ok I see it
[11:58] {jfjf64} itmn
[11:58] {Les} nice
[11:58] {Les} up
[11:59] {Les} or dt reversal?
[11:59] {Threei}  reversal, short
[12:00] {Les} ok. I plug in these gappers pre market for trading ideas. some are quite good
[12:00] {Les} watch these gappers
[12:00] {Les} NASDAQ has handy site
[12:00] {Threei}  (US) SEC is expanding mortgage foreclosure probe, sending additional subpoenas to banks - US financial press, citing sources- SEC plans to take a closer look at the securitization process by investigating the role of master servicers that oversee collateral in pools of loans.
[12:05] {nemo} maybe get V on pullback to trend
[12:05] {nemo} long
[12:07] {jfjf64} mon
[12:07] {nemo} you jamaican?
[12:07] {jfjf64} monsanto
[12:07] {Threei}  lol
[12:07] {jfjf64} mon
[12:07] {nemo} hehehe
[12:08] {jfjf64} broke daily high
[12:08] {jfjf64} blow off top
[12:08] {jfjf64} lookin  short
[12:08] {jfjf64} tight stop
[12:09] {magoo} RIMM chart ugly
[12:11] {nemo} lvs
[12:13] {Threei}  {Rimm} I want second opinion
[12:14] {magoo} V short vad
[12:15] {Threei}  let it consolidate a little above .50
[12:15] {Threei}  then break it
[12:16] {magoo} LULU
[12:18] {dino} veco rinse
[12:18] {Threei} Short Setup: V  .50 break half lot
[12:22] {Threei}  invalidated
[12:22] {Les} ha watching this one too. Although I had it pinned for going up
[12:23] {Threei}  great, I am off till Monday, you take over
[12:23] {nemo} oku
[12:24] {nemo} X .50 break?
[12:25] {nemo} maybe DT
[12:26] {Threei}  break seems a bit more probable
[12:27] {Les} ciao guys and gals. good weekend to all
[12:27] {Les} merry christmas to all
[12:27] {Threei}  take care Les, merry christmas
[12:27] {Threei}  here goes X
[12:27] {jfjf64} ho ho
[12:27] {Les} my password will expire shortly so next time I am back for good
[12:28] {dino} cya les, have a happy
[12:28] {nemo} don't talk about yourself like that jf
06[12:28] * Threei slaps Les around a bit with a reindeer
[12:28] {Les} I like mine bbq'd vad
[12:28] {nemo} careful, you'll arouse him
[12:28] {Threei}  cool, it's yours
[12:28] {Threei}  do whatever you want with it
[12:29] {nemo} reindeer is good, taste like caribou
[12:29] {Threei}  beautiful break X
[12:30] {Threei}  V is trying to reestablish short
[12:33] {Threei} Short Setup: V  .50 break half lot
[12:33] {jfjf64} stop ?
[12:33] {jfjf64} .65
[12:34] {Threei}  yeah
[12:34] {jfjf64} thanks
[12:34] {jfjf64} lol
[12:52] {magoo} .
[12:52] {Threei}  American Express Co Eliminate Foreign Currency Transaction Fees on U.S. Platinum and Centurion Cards, effective towards the end of the first quarter of 2011- The move is designed to provide additional value for existing Cardmembers and to attract new affluent customers to American Express.
[12:55] {nemo} V broke
[13:01] {dino} msb sm l .01
[13:02] {magoo} V short invalidated
[13:02] {magoo} ??
[13:02] {Threei}  ummm
[13:02] {Threei}  how do I out it softly
[13:02] {larisa} twice? :)
[13:02] {magoo} out .48
[13:02] {Threei}  many times over :)
[13:02] {magoo} took .67
[13:02] {magoo} longg
[13:03] {magoo} used invalid as trigg boss
[13:03] {Threei}  sure
[13:03] {Threei}  it's a valid play
[13:03] {Threei}  well done
[13:03] {jfjf64} you sneaky magoo
[13:03] {jfjf64} lol
[13:04] {magoo} i can go long short, no matter to me
[13:04] {Threei}  yeah, but there one thing you can't do
[13:04] {magoo} good exit here
[13:04] {magoo} think .48 was it
[13:04] {jfjf64} of course
[13:04] {Threei}  sit still
[13:05] {magoo} ouch
[13:05] {magoo} nose bleedin
[13:05] {Threei}  say it ain't so :)
[13:06] {nemo} sp at least to .48
[13:06] {nemo} spy
[13:15] {jfjf64} vxx
[13:15] {jfjf64} bounce
[13:16] {Threei}  with stop under .20
[13:16] {Threei}  why not
[13:16] {Threei}  risk is minimal
[13:16] {jfjf64} like that
[13:17] {jfjf64} .26
[13:17] {jfjf64} hold .20
[13:18] {jfjf64} lol
[13:18] {Threei}  invalidated
[13:18] {magoo} ITMN
[13:18] {jfjf64} itmn
[13:18] {nemo} bmo break of .50?
[13:19] {Threei}  sure
[13:19] {Threei}  honest JBE, with .40 support
[13:20] {nemo} frickin' Dino's been in since .15
[13:21] {jfjf64} .33  res
[13:22] {dino} yes
[13:22] {nemo} .40 200 ma
[13:26] {nemo} there's our stop buster
[13:26] {nemo} our
[13:26] {nemo} your
[13:26] {nemo} jeezus
[13:27] {magoo} V prtty good pllbk
[13:32] {magoo} read ITMN vad?
[13:32] {magoo} much higher i think
[13:33] {magoo} 37
[13:33] {Threei}  probably, but with ITMN main question is, are ou comfortable with risk
[13:38] {RonS} U.S. Democrats now target prepaid debit card fees       12/17 11:35 AM
[13:39] {RonS} U.S. Democrats now target prepaid debit card fees       12/17 11:35 AM
[13:39] {RonS} oops
[13:40] {dino} you know, nobody forces people to use these
[13:41] {RonS} Following the Fed's proposal, industry members said more banks would be likely to steer their customers toward more lucrative products, including prepaid debit.
[13:59] {magoo} vad, any interest in anything anywhere here anytime?
[13:59] {Threei}  oh yes
[13:59] {Threei}  but most of that interest is not what I would admit in public
[14:05] {magoo} .
[14:05] {magoo} aminhrer
[14:05] {Threei}  who are you calling that?
[14:05] {dino} bmo out +.25
[14:06] {Threei}  tooth-pulling trade
[14:06] {Threei}  but hey
[14:18] {jfjf64} well all hv  great weekend   outta here
[14:18] {RonS} cya jf
[14:18] {Threei}  take care jf
[14:18] {jfjf64} mornin cost me $$
[14:18] {dino} cya jf
[14:18] {dino} these slow afternoons are driving me crazy
[14:19] {jfjf64} agree
[14:20] {magoo} lost my internet and that was "am i hhere?" sigh
[14:27] {magoo} it dropped twice today, has been good lately
[14:32] {Threei}  feels like some market retreat in order
[14:32] {Threei}  nothing dramatic
[14:33] {nemo} trend line at .36
[14:34] {Threei}  here it goes
[14:37] {dino} out msb .42, +.41
[14:38] {Threei}  MUNIS Moodys downgrades Las Vegas GO bonds
[14:38] {Threei}  bonds?
[14:38] {Threei}  I thought LV paid in chips
[14:43] {dino} too soon
[15:04] {magoo} V a short again vad?
[15:07] {Threei}  probably...
[15:07] {Threei}  hard to say, really
[15:19] {Threei}  ok
[15:19] {Threei} Short Setup: V  .50 break
[15:19] {Threei}  if stays under .60
[15:23] {magoo} in
[15:24] {Threei}  1:1
[15:26] {magoo} half out .35
[15:26] {Threei}  1:2
[15:27] {magoo} oyt .26 TY
[15:28] {Threei}  :)
[15:29] {magoo} any lower?
[15:30] {Threei}  I think so
[15:30] {Threei}  not for new entry though
[15:30] {magoo} oops :)
[15:38] {Threei}  1:3
[15:38] {Threei}  I am out
[15:39] {magoo} me too nice
[15:42] {dino} ctrp stopped -.22
[15:52] {dino} gn all
[15:52] {Threei}  thank you all
[15:52] {Threei}  glad we managed to close week on a good note
[15:52] {Threei}  have a great weekend
[15:52] {Threei}  see yo all on Monday
[15:52] {magoo} ty vad, all'
[15:52] {larisa} bye!

Dec 16 2010

Losing day for us, one of those when nothing works. Rinse after rinse. Good thing we recognized it early and cut size down to half lot, to keep damage low.

Session Time: Thu Dec 16 00:00:00 2010
[08:24] {magoo} morning
[08:25] {nemo} RIG and the oils
[08:25] {nemo} SAM
[08:49] {magoo} lawsuit
[08:49] {nemo} yeah, but it has that look, and it's up .50 in 10 minutes
[08:50] {magoo} long?
[08:51] {magoo} lvs
[08:51] {magoo} fdx
[08:51] {magoo} vrsn
[08:52] {Threei}  good morning
[09:01] {jfjf64} mornin all
[09:02] {Threei}  jf :)
[09:05] {Threei}  *ECB TO INCRASE CAPITAL BY 5B
[09:06] {Threei}  hmmm.. just why would they do that?
[09:12] {dino} gm all
[09:12] {Threei}  dino :)
[09:13] {ese} morning
[09:13] {Threei}  ese :)
[09:13] {ese} morning vad
[09:14] {larisa} gm :)
[09:14] {Threei}  larisa :)
[09:14] {larisa} vad :)
[09:12] {harth} Good Morning All!
[09:13] {Threei}  harth :)
[09:13] {ese} stld......halted....
[09:14] {ese} guides .04/.10 v .11
[09:14] {ese} will probably take a beating
[09:14] {Threei}  Steel Dynamics Inc Halted; Guides Q4 EPS $0.05-0.10 v $0.11e- The company is currently evaluating the assets of two idled fabrication locations for impairment based on current plans for their future use, as these plans were impacted by the company's recent purchase of additional joist locations and equipment. - The company currently estimates a fourth quarter impairment charge of $13M to $15M, or approximately $0.03 to $0.04 per diluted share. - In recent weeks the company's sheet operations order entry and pricing have increased significantly, but were negatively impacted early in the quarter by reduced volumes and pricing.
[09:18] {stewy} good morning
[09:19] {Threei}  stewy :)
[09:22] {davd} morning all!
[09:22] {Threei}  davd :)
[09:22] {Threei}  my gut insists we get selloff after morning volatility is over
[09:23] {nemo} btw...if an internet tax get's passed, go long bby
[09:23] {nemo} insists?
[09:24] {Threei}  RIG testing low
[09:25] {nemo} low is round 69.15
[09:26] {Threei}  hmmm
[09:26] {Threei}  I see 69.70 since 8 am
[09:27] {magoo} 69.13
[09:27] {nemo} 69.13 on my data
[09:28] {Threei}  what time?
[09:29] {magoo} 7:26
[09:29] {nemo} yep
[09:29] {nemo} just sent it to you
[09:30] {Threei}  ahha, I see why I don't see it
[09:30] {Threei}  ty
[09:31] {jfjf64} fdx  gettin  hit
[09:33] {magoo} wynn caught upgrade today
[09:33] {jfjf64} x  bam
[09:33] {magoo} bidu weak
[09:34] {magoo} MCP rip
[09:35] {Threei}  SLW, watching for bounce
[09:35] {Threei} Long Setup:  SLW  .90 break
[09:35] {Threei}  top under .80 for scalpers
[09:36] {Threei}  .75 day traders
[09:36] {Threei}  stop that was
[09:36] {Threei}  LVS lost its mind
[09:37] {Threei}  no worky SLW
[09:37] {dino} slw
[09:37] {nemo} nice hammer though
[09:37] {nemo} bidu slippery
[09:37] {dino} gap fill nov
[09:38] {magoo} X
[09:38] {Threei} Short Setup: LVS  .70 break
[09:38] {Threei}  stop above .80
[09:38] {Threei}  not a scalp
[09:39] {Threei}  target is about .40 at least
[09:40] {nemo} perfect bounce off hammer support slw
[09:41] {ese} L amgn.07
[09:42] {jfjf64} battle
[09:42] {Threei}  grrr
[09:43] {ese} stop 56.12
[09:44] {nemo} motr 20 offer
[09:45] {magoo} loook WYNN
[09:46] {nemo} spy holding downward trendline
[09:46] {dino} brk/b sm l .59
[09:47] {Threei}  a lot of stock break higher though
[09:47] {Threei}  hate these disconnects
[09:47] {jfjf64} lvs
[09:47] {jfjf64} grrrrrrrrrrrrr
[09:47] {nemo} love them, embrace them
[09:47] {nemo} be one with them
[09:47] {nemo} shoot me now
[09:47] {nemo} frickin x
[09:48] {ese} s
[09:48] {ese} stopped amgn +.12 +.05
[09:49] {Threei}  LVS rinse
[09:49] {nemo} motr
[09:49] {nemo} aig
[09:50] {Threei}  thank you LVS for hitting the target - next time try not to rinse us in the process
[09:51] {jfjf64} wow  look bounce  fdx
[09:51] {jfjf64} missed
[09:52] {jfjf64} finnies  up
[09:53] {dino} msb
[09:53] {Threei} Short Setup: SLW  .60 break
[09:54] {Threei}  half lot with stop above .75
[09:54] {Threei}  not a scalp
[09:54] {jfjf64} daily  cd  fall
[09:55] {Threei}  here finally comes my gut-predicted selloff
[09:56] {dino} msb sm l .26 wide pulp
[09:56] {Threei}  touched 1 cent above 1:1 twice
[09:56] {Threei}  let's trail to .70
[09:58] {jfjf64} comon
[09:58] {jfjf64} die
[10:00] {Threei}  that's selloff
[10:00] {nemo} fcx whacked stops bastid
[10:00] {Threei}  *(US) DEC PHILADELPHIA FED: 24.3 V 15.0E
[10:01] {Threei}  covered half .49
[10:01] {ese} spy going nuts
[10:01] {Threei}  yeah, both directions
[10:01] {Threei}  out SLW
[10:01] {Threei}  wash
[10:02] {Threei}  US Treasury's Geithner: the remaining TARP investments will likely show a positive return for US govt
[10:02] {Threei}  selling should resume now
[10:07] {Threei} Long Setup:  RIMM  .30 half lot
[10:07] {Threei}  if stays above .20
[10:08] {Threei}  I think I need to go home
[10:09] {Threei}  don't remember that much rinsing
[10:09] {jfjf64} shake it off
[10:09] {nemo} croaked on motr
[10:10] {Threei}  look at RIMM
[10:10] {ese} in .32
[10:11] {Threei}  feel free to start partialing
[10:11] {ese} out tk you vad
[10:11] {Threei}  cool
[10:11] {ese} .43 +.11
[10:11] {Threei}  things are so unstable, don't hang around too long in anything
[10:12] {ese} yup
[10:13] {Threei} Short Setup: X  .90 break
[10:13] {Threei}  half lot
[10:13] {jfjf64} havnt got punched aroud lk that in while
[10:14] {Threei}  there is a lot of nervouseness in the air
[10:14] {Threei}  X invalidated
[10:15] {nemo} biu
[10:15] {nemo} bidu
[10:16] {Threei}  GS UPDATE: Atlantic Equities Cuts GS to Neutral from Overweight, price target: $170
[10:17] {Threei}  {GS CEO}, over intercome: anyone's got a free minute this morning, to drop by to Atlantic and punch their lights out?
[10:17] {magoo} disconnect, red index but stocks moving up
[10:17] {magoo} yeay, green inddex but move down
[10:18] {ese} L amgn .99
[10:19] {jfjf64} lvs
[10:19] {jfjf64} lol
[10:20] {jfjf64} x  lvs  simialar  chart
[10:24] {magoo} fdx short read bvad
[10:24] {Threei}  I don't see a short in it here
[10:25] {Threei}  94 break maybe but it's a toss up
[10:25] {magoo} if mkts resume selloff, could be
[10:26] {Threei}  problem is, I don't see much connection
[10:30] {magoo} read MCP?
[10:30] {magoo} 2 1/2 drop
[10:30] {Threei}  .15 is long trigger for it
[10:31] {Threei}  thin, jumpy
[10:31] {ese} amgn stop to .10
[10:31] {Threei}  don't like it at all
[10:31] {Threei}  if makes new low here, forget about it
[10:31] {Threei}  there
[10:33] {magoo} short LVS loss 44
[10:34] {nemo} Holy shit
[10:35] {nemo} My stops have been blown away today
[10:35] {Threei}  it dropped so sharply in 44
[10:35] {Threei}  wouldn't chase like this...
[10:35] {nemo} wow...two trades already stopped for the day
[10:35] {dino} gappy moves nemo
[10:36] {magoo} every day is so hard,
[10:37] {Threei}  sheesh
[10:37] {Threei}  you depress me
[10:37] {magoo} we need to costanza trrade
[10:37] {dino} imo, thois week is tough, first two weeks dec easy
[10:38] {Threei} Short Setup: GLD  133 break
[10:38] {Threei}  half lot, if stays under .15
[10:39] {Threei}  if market comes to its senses, target is about 40 cents
[10:39] {magoo} in
[10:39] {magoo} in lvs sh too
[10:40] {Threei}  all trades are cut to haklf lot considering this jumpiness and lack of consistency
[10:40] {Threei}  yeah, this
[10:44] {Threei}  magoo, tell me you are keeping those stops
[10:45] {magoo} oh yea, out but acct neg today
[10:45] {Threei}  because what we have now is exactly the situation where you tend to get stubborn, blow them and then get angry
[10:45] {Threei}  ummm
[10:46] {Threei}  you expect to be positive every day, don't you
[10:46] {magoo} need to
[10:46] {Threei}  good luck then
[10:46] {Threei}  you'll be a first in mankind history if you manage to do that
[10:47] {magoo} and then ill publish my story
[10:48] {Threei}  I'll be a first buyer
[10:48] {Threei}  autographed copy pls
[10:48] {ese} amgn stop to .20
[10:50] {dino} mos sm l .50
[10:53] {ese} stop to .40
[10:53] {Threei} Short Setup: SLW  .50 break
[10:53] {Threei}  stop above .60
[10:53] {Threei}  half lot goes without saying
[10:54] {ese} out amgn .39 +.39
[10:55] {dino} gj
[10:56] {Threei}  nice one
[10:58] {Threei}  market spike
[10:58] {Threei}  let's scratch SLW
[10:58] {stewy} .
[10:59] {Threei}  FBI makes 4 arrests in insider trading probe - CNBC (related XLF )
[11:00] {magoo} gotta go guys..fbi here
[11:00] {Threei}  rofl
[11:00] {davd} lol
[11:00] {ese} tks dino........it's like pullin teeth these days
[11:00] {ese} patience is a must for sure
[11:01] {Threei}  mags, admin asked you to check your e-mail
[11:01] {Threei}  good scratch SLW, would have been stopped
[11:07] {dino} msb wow!
[11:08] {Threei}  45 is support on daily
[11:08] {Threei}  panic is likely to take it lower
[11:08] {Threei}  but biunce is close
[11:08] {Threei}  bounce too
[11:10] {Threei}  looks ready dino
[11:10] {dino} FEELS SO
[11:10] {Threei}  market spike too
[11:10] {dino} SM L .20
[11:11] {Threei}  45 recross was obvious trigger, just way too thin for me
[11:11] {Threei}  your style stock
[11:11] {Threei}  what the deuce
[11:11] {dino} stop .70
[11:11] {Threei}  no news for this market spike
[11:11] {dino} i bgt
[11:12] {Threei}  beautiful, MSB
[11:12] {dino} crazy gut call, goes back to 50 by eod
[11:18] {Threei}  X no upward move with market
[11:18] {Threei}  watching as a shirt candidate with market reversal
[11:20] {Threei} Short Setup: X  .15
[11:20] {Threei}  if stays under .25
[11:23] {Threei}  am I cursed today?
[11:26] {Threei}  definitely
[11:26] {magoo} msb was nice call
[11:27] {dino} thx
[11:28] {magoo} like to see a double bott reversal on it
[11:29] {dino} think bottom is in
[11:30] {dino} but who konws
[11:33] {stewy} gotta go. take care.
[11:33] {dino} cya stew
[11:33] {ese} you talkin mrkt in general dino for this leg dn
[11:33] {magoo} bye stewy
[11:33] {dino} yes and for msb too
[11:33] {Threei}  take care stewy
[11:34] {ese} stew......cook up a storm somewhere eh
[11:34] {ese} tks
[11:38] {Threei}  X, anotger rinse... unbelievable
[11:39] {dino} out mos .90, +.40
[11:41] {Threei}  cool beans
[11:41] {RonS} good day all...computer issues = late start...how are things.
[11:41] {Threei}  nasty day Ron
[11:41] {nemo} excremently
[11:42] {Threei}  you are lucky
[11:42] {Threei}  one of those I wish I lsept in {G}
[11:42] {Threei}  ruinse after rinse
[11:42] {ese} nice dino
[11:42] {dino} thx
[11:46] {dino} magoo dcc
[11:55] {dino} msb db
[11:58] {RonS} aks...10k jan 19 call purchase...aggressive $80,000 bet
[11:58] {Threei}  (GR) Moody's places Greece rating on downgrade review; multi-notch downgrade would be possible- Moody's decision to initiate this review was prompted, despite significant progress in implementing a very large fiscal consolidation effort, by the increased uncertainty over (1) Greece's ability to reduce its debt to sustainable levels given the recent substantial upward revision in debt levels; (2) the substantial revenue shortfall that we have observed in 2010; and (3) the level and conditions of ongoing support that would be available to Greece in the event that its market access remains cut off.
[11:58] {dino} re-load .05 msb sm l
[11:59] {nemo} support at .50 below this
[12:03] {Threei}  IMF's Strauss Kahn: Europe needs cooperation or the crisis will continue indefinitely; EMU needs to restore growth - PBS interview- Europe needs to get new crisis framework in place in early 2011. - US Fed's QE2 progam will be good for growth. - Reiterates China should allow its currency to appreciately slowly; a sudden large move in the yuan would cause a shock.
[12:16] {Threei}  which way this standoff will resolve?
[12:16] {nemo} veco
[12:16] {dino} up
[12:18] {ese} zzzzzzzzzzzzzzzzzzzzzz..................head snaps back.......creating spinal cord injury
[12:19] {dino} try msb es
[12:20] {ese} will do
[12:20] {ese} hmmmmmmmmmmmmm  
[12:20] {dino} dorm uv after -10 death over last few days
[12:21] {dino} josb maybe get some back, lost about 10 too
[12:21] {dino} oppps jobs
[12:26] {dino} out msb .19, +1.14
[12:26] {nemo} veco
[12:27] {dino} 41.21 veco supp
[12:27] {Threei}  Las Vegas Sands Corp Exec: denial of expansion in Macau's Cotai Strip was "not much of a setback," still a lot of room for growth in our portfolio of properties - CNBC- See potential for positive developments in Japan and Spain next year.
[12:27] {Threei}  lvs
[12:27] {dino} two days ago'
[12:28] {nemo} .98 pivot support below that
[12:31] {nemo} I got support around .49 now
[12:31] {nemo} frickin pivot support bounce
[12:32] {dino} feels lower
[12:34] {nemo} there is intermediate pivot suport at .59 too
[12:35] {dino} perhaps exp games to 40s
[12:35] {nemo} aig doing the slow climb
[12:36] {dino} msb .45 has been resis
[12:36] {dino} giddy up
[12:37] {dino} sm l .50 trig
[12:40] {Threei}  LULU
[12:41] {Threei}  lookss breaky
[12:41] {nemo} ew
[12:41] {nemo} sorry
[12:42] {nemo} msb lunchtime break
[12:43] {nemo} bounce near 46?
[12:44] {Threei}  if it gets there...
[12:44] {Threei}  {LULU} so what did you call me?
[12:44] {dino} f'k missed dorm
[12:44] {Threei}  she is talking to you nemo
[12:44] {dino} rally
[12:45] {dino} all green
[12:45] {Threei}  (US) CNBC's Kelly: Today's insider trading arrests are likely phase one, sees more arrests coming later this month (related XLF )
[12:47] {nemo} Spy wants to test the highs today
[12:47] {dino} thru them
[12:48] {dino} s&p
[12:59] {nemo} Veco broke downtrend for the moment
[12:59] {dino} jobs sm l ave .35
[13:00] {nemo} Back to the Rorschach test
[13:00] {nemo} Wow this voice recognition software spells Rorschach correctly
[13:01] {Threei}  must be crazy software
[13:02] {RonS} depends on how you look at it...
[13:02] {Threei}  through the napkin?
[13:02] {nemo} Anybody see the movie, the watchmen?
[13:02] {dino} no
[13:02] {nemo} Great movie
[13:06] {magoo} .
[13:15] {Threei}  MSB looks like going for 48
[13:15] {dino} 50
[13:16] {nemo} VWAP is .34
[13:16] {nemo} That was nice
[13:17] {nemo} X. dropping
[13:19] {dino} veco lod
[13:19] {nemo} Probably too .96
[13:21] {nemo} Knife catching anyone
[13:23] {dino} waiting at .60
[13:25] {ese} L rvbd .94
[13:26] {nemo} BIDU hugs, 99
[13:30] {dino} out veco .20, +.60 ty nemo for heads up
[13:30] {nemo} sure, living vicariously today
[13:31] {dino} out msb .55, +1.05
[13:32] {nemo} Why out.  Looks like 48 easy
[13:32] {dino} 3 for 4 on it, pullbacks are big
[13:32] {ese} very very nice.......lika fina wina
[13:32] {ese} dino
[13:33] {dino} lucky
[13:33] {dino} veco may re-test
[13:33] {nemo} Holding in this market drop
[13:36] {dino} it is
[13:37] {dino} a should've moment
[13:41] {dino} veco took off
[13:41] {nemo} Spy should make the run now
[13:45] {dino} athn drop
[13:48] {ese} one can only hope dude
[13:49] {nemo} ar
[13:50] {nemo} drops63
[13:50] {nemo} nevermind pivot support at .97
[13:53] {ese} spy's gotta break .90
[13:53] {RonS} Athenahealth sees FY11 adjusted EPS 68c-78c vs. consensus 85c
[13:54] {RonS} bcsi
[13:55] {dino} thx
[13:55] {nemo} aig going ballistic
[13:55] {dino} elliott assoc 6.4% stake bcsi
[13:56] {RonS} thx...who are they?
[13:57] {ese} whaaaaaaaaa the ffffffff
[13:57] {dino} no idea
[13:57] {RonS} ese still in rvbd?
[13:57] {ese} ya
[13:58] {ese} had 250 in my pocket and shoulda taken it
[13:58] {RonS} looks like it wants to break out and run...
[13:58] {ese} then i wish it would bloody well get on with it
[14:00] {RonS} look at the five day 10 min...not a popper...slow riser
[14:00] {ese} hmmmmmmmmmm
[14:02] {ese} i've been following the 15min ch with it
[14:09] {RonS} V
[14:10] {RonS} FED RELEASES PROPOSED RULE ON DEBIT CARD INTERCHANGE FEES
[14:10] {Threei}  V Visa and Mastercard move higher on press report of Fed issuing proposal on interchange fees
[14:15] {nemo} WHat up with crk?
[14:15] {RonS} Comstock sees higher 2011 spend; backs liquids focus       12/16 08:16 AM
[14:17] {RonS} ...reading the entire report, crk, i do not understand this selloff
[14:18] {RonS} may be that those that want a pure gas play are moving on...
[14:18] {Threei}  wow V
[14:19] {RonS} ya 3i, that thing i posted was a pure setup...you hafd the real deal...which was nothing...
[14:22] {ese} outta here see ya tomorrow
[14:22] {magoo} bye ese
[14:22] {dino}  msb sm l .11
[14:22] {RonS} cya ese
[14:23] {dino} cya es
[14:23] {Threei}  take care ese
[14:23] {RonS} nemo, see any V support?
[14:26] {RonS} do dee doo...feeling like jr...
[14:27] {dino} gap 73.84 v
[14:29] {nemo} Took AIG with it
[14:29] {dino} gap 73.84 v
[14:30] {dino} v sm l .00
[14:30] {nemo} Knife catching while bungee jumping
[14:30] {dino} that sucked
[14:30] {nemo} Need Vaseline
[14:31] {nemo} ?
[14:32] {nemo} .92 support
[14:32] {nemo} Nope
[14:32] {nemo} Next is pivot support 06
[14:33] {Threei}  wow
[14:33] {nemo} Spy
[14:34] {RonS} 0.06 nemo?
[14:34] {nemo} Yes Ron
[14:34] {RonS} lol
[14:34] {nemo} At 72.06
[14:35] {nemo} At got to .10
[14:36] {RonS} come on nemo, ya missed it by 4 cents...
[14:36] {nemo} That's why I'm stopped out today
[14:37] {Threei}  bounce time soon
[14:37] {Threei}  almosy
[14:37] {nemo} It's holding above the pivot support
[14:37] {RonS} maybe...
[14:37] {nemo} Yeah so far
[14:39] {nemo} It's like everything else has stopped trading to watch the
[14:39] {nemo} V
[14:40] {nemo} Long hair stop under 50.  Just joking
[14:40] {Threei}  often happens when unusual move comes along
[14:40] {nemo} Moment of truth
[14:40] {dino} gap 70.98
[14:41] {dino} ma -14
[14:41] {RonS} Fed staff proposes 12-cent cap on debit card fees       12/16 12:38 PM
[14:42] {RonS} The Fed board is expected to vote shortly on the staff proposals, with a comment period that would end Feb. 22
[14:42] {RonS} ...so why does Fed decide this?
[14:42] {Threei}  Visa Inc. Visa and Mastercard move higher on Fed issuing proposals on interchange fees; lays out two proposals for capping debit card fees- With respect to the interchange fee standards, the Board is requesting comment on two alternatives that would apply to covered issuers: (1) an issuer-specific standard with a safe harbor and a cap, or (2) a cap applicable to all such issuers. The proposed rule would additionally prohibit circumvention or evasion of the interchange fee limitations (under both alternatives) by preventing the issuer from receiving net compensation from the network (excluding interchange fees passed through the network). The Board also is requesting comment on possible frameworks for an adjustment to interchange fees for fraud-prevention costs. With respect to the debit-card routing rules, the Board is requesting comment on two alternative rules prohibiting network exclusivity: one alternative would require at least two unaffiliated networks per debit card, and the other would require at least two unaffiliated networks for each type of transaction authorization method. Under both alternatives, the issuers and networks would be prohibited from inhibiting a merchants ability to direct the routing of an electronic debit transaction over any network that may process such transactions.
[14:43] {Threei}  Under Alternative 2, an issuer would comply with the standard for interchange fees as long as it does not receive or charge a fee above the cap, which would be set at an initial level of 12 cents per transaction. Each payment card network would have to set interchange fees such that issuers do not receive or charge any interchange fee in excess of the cap. - EFTA Section 920 requires the Board to establish interchange fee standards and rules prohibiting circumvention or evasion no later than April 21, 2011. These interchange transaction fee rules will become effective on July 21, 2011.
[14:44] {dino} what are they charging currently?
[14:44] {nemo} Varies
[14:45] {Threei}  I am not exactly sure how we consumers are going to get screwed up in this, but they'll find the way
[14:47] {nemo} Throw out the women and children first
[14:51] {Threei}  new low would suprpise me
[14:51] {Threei}  feels like bottom is in
[14:52] {Threei}  in small shares
[14:52] {Threei}  stop under .70
[14:53] {Threei}  nope
[14:53] {nemo} Candles dropping
[14:54] {Threei}  needas more washout
[14:55] {dino} filled gap
[14:56] {Threei}  AXP is strangely quiet
[14:57] {Threei}  down but nothing of this scale
[14:57] {RonS} amazing...on something that will not be decided until March...
[14:57] {nemo} Let's try .28
[14:57] {RonS} axp, no debit cards 3i...
[14:57] {nemo} Nope
[14:57] {Threei}  oh I see
[14:58] {nemo} Spy coming into support
[14:58] {dino} what's next, govt determines how much you can make in a day. this is getting out if hand
[14:59] {nemo} Somewhere between 100 and 200 rubles
[14:59] {dino} next we'll have price controls
[14:59] {nemo} Will pretend to work, and they'll pretend to pay us
[14:59] {nemo} This is kind of like watching a bad car accident
[15:00] {dino} i suppose mcdonalds will have to keep it's value meal under minimum wage
[15:00] {Threei}  and don't forget calories count
[15:01] {RonS} it's good to be the King...i mean Fed bureaucrat
[15:01] {nemo} Oh yeah, no trans-fats or soda
[15:01] {dino} it's madness what's being done to business
[15:01] {RonS} M Obam...everyone's mama...
[15:02] {Threei}  hey, if I say "wow V" will it be very redundant?
[15:02] {dino} "all knowing"
[15:05] {RonS} man, had to close my platform...the V screen was cuasing my computer to smoke...
[15:05] {nemo} M.A. down 30 points
[15:06] {Threei}  new low is coming
[15:07] {dino} lol
[15:07] {Threei}  unfrkinbelieavable
[15:07] {nemo} eqzaktly
[15:08] {larisa} what is?
[15:09] {Threei}  the scale and ferocity of selloff
[15:09] {nemo} I'm ascared
[15:09] {magoo} 65 strike?
[15:10] {Threei}  I can't believe it'd get there but I can't beliebe it for the last 10 points, lol
[15:10] {Threei}  5
[15:10] {Threei}  15 if we are talking MA
[15:17] {dino}  just a proposed law, feb vote, will not happen
[15:18] {dino} seems sell the rumor
[15:22] {nemo} Interesting V down 10%, but no circuit breaker
[15:22] {Threei}  yeah, what's up with that
[15:23] {magoo} believe this...it must fall faster than that to trigger
[15:27] {dino} bpt
[15:30] {magoo} any thoughts RIMM report vad?
[15:30] {magoo} gun to your groin lol
[15:30] {Threei}  hmmm
[15:31] {Threei}  why do I suddenly lose all ability to think, lol
[15:31] {Threei}  rather downbeat
[15:36] {davd} proposing a 12-cent cap on the fees merchants pay for debit card transaction
[15:36] {davd} that seems pretty harsh, but i'm happy for the small businesses
[15:37] {Threei}  I think most are concerned with credit cards more
[15:37] {nemo} Problem is,they're like utilities...they got you by the balls
[15:38] {RonS} ...the dough will go to the banksters dave...the merchants will see none of it
[15:39] {dino} i think the problem is govt needs to get out of the way. they go after business after business
[15:39] {dino} pretty soon you won't be able to fly, use a credoit card, get gas/oil, have a bank acct, etc
[15:40] {dino} "get out of the way" john galt
[15:41] {RonS} ian rand
[15:41] {dino} ayn
[15:41] {nemo} She'll be pissed
[15:41] {RonS} the ayn in spain will simple cause a pain...
[15:42] {RonS} she looked like an ian...
[15:42] {RonS} :D
[15:43] {dino} lol
[15:47] {Threei}  quite a move
[15:47] {Threei}  totally distracted whole market
[15:47] {Threei}  still, why didn't they halt it?
[15:47] {Threei}  circut breaker broken?
[15:47] {magoo} just once wish i was short something like that at top
[15:48] {magoo} drop was not fast enough vad
[15:50] {Threei}  so, do we wait for RIMM?
[15:51] {Threei}  V more selling
[15:53] {Threei}  overall, I have to say, this was prbably my worst day in months
[15:54] {magoo} yes to rimm
[15:54] {Threei}  who feels like kicking me, go ahead, you may not have such chance for a few months more {G}
[15:54] {Threei}  OK mags, will wait for it if not too long
[15:54] {dino} can't my week is still neg
[15:54] {Threei}  Mon and Tues were great
[15:55] {dino} not here
[15:55] {Threei}  yesterday questionable, barely positive
[15:55] {Threei}  today is Costanza trading day
[15:56] {Threei}  and all that was needed: short V at the moment of the news, faint for 10-15 min, come out of it abd cover
[15:56] {RonS} UBS Investment Research wrote in a note that at first glance it appears the 12 cent cap will drive down average debit interchange rates about 75%. This is worse than the 40% to 60% decline the Street expected.
[15:57] {RonS} UBS says it believes the ultimate impacts to both companies will be manageable--no more than about 10% earnings-per-share headwind.
[15:57] {dino} out brk/b +.23
[15:57] {RonS}  Also of interest is to what extent issuers will try to pressure Visa and MasterCard (MA:$223.9900,$-25.2300,-10.12%) network fees to help offset lost interchange revenue.
[16:00] {Threei}  ORECL good report
[16:00] {Threei}  ORCL
[16:01] {Threei}  ORCL Reports Q2 $0.51 v $0.46e, R$8.6B v $8.3Be
[16:01] {Threei}  TTWO halted
[16:01] {Threei}  RIMM drops
[16:02] {harth} cya Fri! Enjoy the evening!
[16:03] {Threei}  bye harth
[16:03] {Threei}  come on RIMM report
[16:05] {Threei}  hmmm... nothing yet
[16:08] {Threei}  TTWO Reports Q4 $0.67 v $0.31e, R$373.7M v $325Me
[16:08] {magoo} wow
[16:08] {magoo} gap up comith
[16:08] {Threei}  not sure
[16:08] {Threei}  look next:
[16:08] {Threei}  Guides Q1 EPS -$0.60 to -$0.50 v -$0.04e, R$100-150M v $208Me - Guides FY11 EPS $0.50-0.65 v $0.88e, R$1.0-1.1B v $1.1Be
[16:09] {Threei}  that's yuck
[16:11] {Threei}  here's rimm
[16:11] {Threei}  esearch in Motion Ltd Reports Q3 $1.74 v $1.65e, R$5.5B v $5.4Be
[16:11] {Threei}  RGuides Q4 $1.74-1.80 v $1.61e, R$5.5-5.7B v $5.5Be
[16:11] {RonS} Record BlackBerry(R) smartphone shipments of 14.2 million grew 40% over
[16:11] {Threei}  nice
[16:12] {Threei}  who said blackberry was dead oudated tech?
[16:13] {Threei}  - Q3 net new Blackberry subscriber adds 5.1M v 4.5M q/q
[16:13] {RonS} what a whip!
[16:13] {Threei}  ok, it is dead and outdated
[16:16] {Threei}  OK guys, taking off
[16:16] {dino} you'd think they missed
[16:16] {Threei}  have a gfood evening, see you tomorrow
[16:16] {magoo} ok ty
[16:16] {Threei}  no kidding
[16:17] {Threei}  I see no single negative in report
[16:17] {larisa} bye all!
[16:17] {Threei}  there is one
[16:17] {Threei}  gross margings
[16:18] {Threei}  Q3 gross margins 43.6% v 44.5% q/q
[16:18] {Threei}  big deal
[16:18] {Threei}  shrug
[16:22] {dino} gn

Dec 15 2010

Uneven day with some wins, some stops and a lot of invalidated plays. Ended up about even or slightly positive - nothing stellar. Risk-tolerant members made a small fortune shorting BIDU, RIMM and BBY.

Session Time: Wed Dec 15 00:00:00 2010
[08:19] {magoo} morning
[08:44] {Threei} good morning
[08:55] {nemo} deck about to hit resistance
[08:56] {magoo} news?
[08:57] {nemo} BBY yesterday
[08:57] {Threei} no fresh news that I see
[09:05] {magoo} MAXY news vad
[09:05] {Threei} none
[09:07] {ese} morning
[09:08] {dino} gm all, cold walk today
[09:09] {harth} Good Morning All!
[09:10] {Threei} ese, dino, harth :)
[09:10] {RonS} gm gents
[09:10] {Threei} ron :)
[09:15] {davd} gm all
[09:16] {larisa} gm :)
[09:17] {Threei} davd, larisa :)
[09:18] {larisa} :)
[09:18] {Threei} (US) NOV INDUSTRIAL PRODUCTION: 0.4% V 0.3%E; CAPACITY UTILIZATION: 75.2% V 75.0%E
[09:18] {Threei} - Prior Industrial Production revised lower from 0.0% to -0.2%
[09:18] {Threei} - Prior Capacity Utilization revised higher from 74.8% to 74.9%
[09:21] {Threei} anyone's from harrisbutrg?
[09:22] {Threei} (US) State of Pennsylvania declares Harrisburg "financially distressed" - US financial press (related MUNIS )
[09:22] {dino} the capital
[09:24] {Threei} someone's on TV soon
[09:26] {magoo} rev jesse jackson?
[09:28] {stewy} gm everyone
[09:28] {Threei} stewy :)
[09:27] {nemo} joyg
[09:30] {Threei} LVS looks very breakdownish
[09:30] {Threei} but its opening volatility is often awfull
[09:31] {Threei} skipping it
[09:32] {Threei} for a good reason, too
[09:33] {magoo} might be good short soon
[09:33] {magoo} AIG trying
[09:35] {Threei} no signal
[09:35] {Threei} hoped for double top
[09:36] {Threei} Long Setup: AIG .70 break half lot
[09:36] {Threei} invalidated
[09:36] {Threei} .50 now
[09:37] {Threei} if holding .40
[09:38] {Threei} Long Setup: LVS .40 break
[09:39] {Threei} stop under .30
[09:39] {Threei} if went for AIG, get out here
[09:40] {Threei} yikes LVS
[09:42] {Threei} Long Setup: SLW .50 break
[09:43] {Threei} ugh
[09:43] {Threei} late
[09:43] {Threei} see if gives second chance
[09:43] {Threei} never mind, wrong symbol
[09:43] {nemo} what stock
[09:43] {nemo} yeah
[09:43] {Threei} watching 5 stock at once, lol
[09:43] {Threei} meant X
[09:44] {Threei} grrr... over 1:1
[09:44] {Threei} 1:2 I mean
[09:48] {Threei} Short Setup: RIMM .50 break
[09:48] {Threei} half lot
[09:48] {Threei} invalidated
[09:49] {Threei} not off radar though, just looking for different type of entry
[09:49] {Threei} CISG sharp selling
[09:50] {Threei} ok RIMM, .80 break
[09:50] {Threei} if stays under .90
[09:50] {Threei} invalidated
[09:54] {Threei} (US) Preview: Dec NAHB Housing Market Index due out at 10:00ET
[09:54] {Threei} **Consensus expectation: 16e v 16 prior
[09:59] {dino} maxy sm l .15
[10:00] {Threei} V Canada Regulator: Visa and Mastercard rules are anti-competitive, discourage lower-cost options - US financial press (79.91, -0.73, -0.91%) (related MA DFS AXP )
[10:00] {Threei} *(US) DEC NAHB HOUSING MARKET INDEX: 16 V 16E
[10:01] {ese} L teva .02
[10:01] {Threei} Short Setup: RIMM .90 break half lot
[10:01] {Threei} if stays under 60
[10:02] {Threei} should be good for 20-25 cents
[10:03] {Threei} 1:1
[10:04] {dino} cld sm l .00
[10:06] {Threei} scalpers win
[10:07] {ese} out teva .12 +.10
[10:08] {magoo} FLT ipo rippin
[10:11] {Threei} Short Setup: X .40 break
[10:11] {Threei} if stays under .50
[10:12] {Threei} not a scalp at all, target is about 56 .15
[10:12] {Threei} with partials along the way of course
[10:13] {Threei} this market buying is a good test for X
[10:13] {Threei} if not following it, becomes better short candidate
[10:15] {Threei} invalidated
[10:15] {Threei} what is it, day of trades that got away?
[10:16] {magoo} if all your calls are invalidated, reason u are leaning wrong way so far
[10:16] {Threei} thank you so much
[10:16] {Threei} now I know
[10:16] {larisa} lol
[10:17] {magoo} well, i aggressively entered them..so thank u
[10:17] {magoo} stopped out but still
[10:18] {Threei} now, out of 6 calls, three were long and three short
[10:18] {Threei} which way was wrong out of those two?
[10:18] {larisa} I have 7 , not 6
[10:18] {larisa} 5 invalids :)
[10:19] {magoo} JOYG wont quit
[10:19] {magoo} FLT strong
[10:19] {larisa} me personally suck too, missed BRCM at 43
[10:20] {magoo} freakin X now
[10:20] {magoo} vad had it correct'
[10:21] {magoo} mkts just been difficult...rinsing
[10:21] {larisa} very
[10:21] {magoo} almost need to size down and go lil wider with stops ala dino i guess
[10:24] {Threei} Short Setup: SLW .55 break
[10:24] {Threei} stop above .55
[10:24] {Threei} .65
[10:25] {dino} cisg sm l .23
[10:25] {Threei} no worky SLW
[10:26] {ese} L rvbd .44
[10:28] {magoo} FLT wouldnt be surprised prints 30 today
[10:28] {magoo} saved my ass
[10:29] {magoo} masde 1500 on it
[10:29] {magoo} oops wrong, only 1k
[10:29] {Threei} biught 26.5 break?
[10:29] {magoo} topld u cant add for sh$t
[10:30] {magoo} 26.40
[10:30] {magoo} plld, then started
[10:30] {magoo} it has MOMO
[10:30] {magoo} feel
[10:30] {Threei} *DOE CRUDE: -9.85M V -2.5ME; GASOLINE: +810K V +2ME; DISTILLATE: +1.09M V -500KE
[10:31] {magoo} i can bring it up in troom but cant reaklly call what i do, type to slow
[10:31] {Threei} Yahoo! Inc No longer accepting video uploads - TechCrunch
[10:31] {Threei} - It looks like Yahoo is making significant changes to its YouTube-like video site, Yahoo Video. According to a notice on the site, Yahoo will be removing the ability for users to upload a video to the site, and will be removing all user-generated content from the site in the Spring of 2011.
[10:31] {magoo} and it could be death if miss out
[10:31] {magoo} like here
[10:31] {Threei} notice where X bottomed
[10:32] {Threei} .11... call was for .15 target
[10:32] {magoo} yup, perfect hit .12
[10:32] {magoo} oh, i saw it tho, and took back my criticism on it
[10:32] {Threei} why would you criticize in a first place is beyond me
[10:33] {magoo} but u let larisa get away with insult
[10:33] {magoo} she said she sux TOO
[10:33] {larisa} lol
[10:33] {magoo} too=you (her not me lol)
[10:33] {ese} rvbd stalling on me.......
[10:33] {Threei} lay off those juniper berries, will ya
[10:33] {larisa} timing off a bit today or market too fast
[10:34] {magoo} fast, all over the place
[10:34] {ese} agreed
[10:34] {Threei} Short Setup: RIMM .75 break half lot
[10:34] {Threei} if stays under .85
[10:34] {ese} some kind of different dynamic for sure mags
[10:35] {Threei} invalidated
[10:35] {magoo} yea, im strugglimng yesterday, today
[10:35] {Threei} let's try and modify it
[10:35] {magoo} and typing worse than usual too
[10:35] {Threei} Short Setup: RIMM .80 break half lot, if stays under .90
[10:36] {ese} managed to eck out 200 bucks yesterday but thats it
[10:36] {dino} better than i did, neg. on week
[10:37] {magoo} destroyed here yesterday
[10:37] {larisa} on AIG ?
[10:37] {magoo} veco yoku
[10:37] {larisa} k, you suck too, with us :)
[10:38] {ese} out rvbd .80 +.36 2k worth
[10:38] {Threei} don't include me
[10:38] {larisa} lol
[10:38] {magoo} u suk, that rimm triggered u know
[10:38] {Threei} go away
[10:38] {Threei} I had two great days if you happened to notice
[10:39] {dino} somebody slap him
[10:39] {Threei} gladly
06[10:39] * Threei slaps magoo around a bit with a large trout
[10:39] {magoo} sorry, thought we all were funning around there
[10:39] {ese} saaaaaaaaaaaaaaaammmmmmmmmmmaaaaaaaaakkkkkkkkkkkk!!!!!!!!!!!!!!!!11
[10:39] {Threei} aren't we?
[10:39] {larisa} I feel better for some reason.. lets find next one :)
[10:40] {Threei} my definition of fun is slapping people wirh dead fish
[10:40] {Threei} RIMM is not a scalp btw
[10:40] {ese} has a certain sawak to it for sure
[10:40] {Threei} aiming for about .60
[10:41] {Threei} maybe more
[10:42] {magoo} .53 maybe
[10:42] {magoo} looses .50 its another sh setup to .25
[10:42] {Threei} (IR) IMF confirms it will vote on Ireland loan package tomorrow, Dec 16
[10:43] {Threei} if it loses .50, it has no bottom
[10:43] {Threei} 1:1
[10:43] {dino} tin sm l .50
[10:44] {Threei} look at its daily
[10:45] {Threei} no support down to 55s
[10:45] {Threei} and retreats while market makes new highs
[10:46] {ese} are some of you short rimm right now
[10:46] {magoo} maybe ill let it ride, need the greed
[10:46] {stewy} y
[10:46] {ese} nice
[10:46] {Threei} [10:35] {Threei} Short Setup: RIMM .80 break half lot, if stays under .90
[10:46] {magoo} yup
[10:47] {ese} apologies chief....missed that call....
[10:47] {Threei} don't rinse second half RIMM
[10:47] {Threei} we want moire than lousy 10 cents
[10:48] {magoo} i want 55 dollar
[10:48] {magoo} im long flt again .50
[10:48] {Threei} well, maybe don't trail the stop then
[10:48] {Threei} but don't let it turn into loss
[10:48] {magoo} hard watching both
[10:49] {magoo} FLT wild
[10:50] {Threei} second half is stopped for me
[10:50] {magoo} dimre on gfirst?
[10:51] {Threei} yes, 1:1
[10:51] {Threei} maybe too tight but I don't like how market feels today
[10:51] {Threei} and when things are unstable, I abandon discretion and do things by the book
[10:52] {magoo} which book is that lol
[10:52] {Threei} and the book says, risk control trumps everything
[10:52] {Threei} why, Angelika - Quinne of Angels, of course
[10:54] {magoo} out 75 flt
[10:54] {magoo} big seller there
[10:56] {magoo} out rimm
[10:56] {magoo} -.08
[10:58] {Threei} Short Setup: SLW .90 break
[10:58] {Threei} if stays under 39
[11:01] {Threei} SPY .80 break should start serious downward spiral
[11:01] {Threei} 1:1
[11:02] {Threei} mags, where are you?
[11:03] {magoo} right here
[11:03] {Threei} oh good, here you are
06[11:03] * Threei slaps magoo around a bit with a large trout
[11:03] {magoo} :)
[11:04] {Threei} turns into just scalping day...
[11:04] {Threei} Long Setup: RIMM 60 break
[11:04] {Threei} half lot, and not a scalp, hopefully
[11:05] {Threei} let's break it down this way
[11:05] {Threei} for scalpers, .90 support
[11:05] {Threei} for day traders, .85
[11:06] {Threei} and target is about 60.40
[11:07] {jfjf64} HEY HEY
[11:07] {Threei} you just woke up or what?
[11:08] {jfjf64} lol
[11:09] {RonS} rimm earnings tomorrow ah?
[11:10] {Threei} yes
[11:10] {jfjf64} how was mornin
[11:10] {Threei} shaky
[11:10] {Threei} a lot of invalidated plays
[11:10] {Threei} couple stops, couple wins
[11:11] {Threei} all in all, wasn't really worth eaking up so far
[11:11] {Threei} RIMM invalidated
[11:12] {Threei} I fixed my morning somewhat by slapping living daylight out of magoo... but he was asking for it
[11:12] {jfjf64} nice
[11:12] {nemo} bby
[11:14] {Threei} BBY... very tempting short
[11:14] {magoo} sh rimm .80
[11:16] {Threei} Short Setup: BBY 35 break
[11:16] {Threei} if stays under .10
[11:16] {magoo} mkts losing it
[11:16] {Threei} good
[11:17] {Threei} cover half RIMM will ya
[11:22] {Threei} look at SPY 1 min
[11:22] {Threei} 11:01] {Threei} SPY .80 break should start serious downward spiral
[11:23] {nemo} should we tighten stop on bby
[11:23] {Threei} to above .05... matter of taste, really
[11:23] {Threei} I would rather do that after it makes new low
[11:23] {Threei} let it break .99 and trail to above .05
[11:24] {nemo} could be db on both market and bby tna taking off
[11:27] {nemo} lotta buying here
[11:27] {Threei} less and less likely with each next retests of the support
[11:28] {Threei} so may be a compromise:
[11:28] {Threei} trail to above .05 for half
[11:28] {nemo} out
[11:28] {nemo} bullish engulfing on high volume
[11:28] {nemo} out .07
[11:28] {Threei} RIMM is about to break major support and die
[11:30] {Threei} no go BBY
[11:30] {Threei} see jf, whole day like this
[11:30] {Threei} one works, another cancels it out
[11:31] {jfjf64} in rimm
[11:31] {Threei} mags, covering partials on RIMM??
06[11:31] * Threei slaps magoo around a bit with a large roll of cash
[11:31] {magoo} yup, got some left tho
[11:31] {Threei} cool
[11:31] {Threei} way to ride'em, cowboy
[11:32] {jfjf64} i will ty
[11:32] {jfjf64} or mags
[11:32] {jfjf64} lol
[11:32] {Threei} whoever identifies himself as a sowboy {G}
[11:32] {Threei} cowboy
[11:33] {jfjf64} i neve seen a russian cowboy
[11:33] {jfjf64} lol
[11:33] {magoo} only one gets to ride magoo is larisa :)
[11:33] {Threei} neither have I
[11:34] {RonS} 3i, am s bby .10...if it breaks idea for target?
[11:34] {magoo} no slap??
[11:34] {jfjf64} lvs
[11:34] {Threei} it has no support Ron
[11:34] {Threei} not for the next 5 bucks
[11:35] {RonS} ok then 20.00...
[11:35] {Threei} uncharted territory, no way to tell how far it can drop
[11:35] {Threei} lol
[11:35] {Threei} this is typical problem with breaks of this kind
[11:36] {Threei} have to go with real time indications to determine the exit(s),
[11:36] {RonS} channeling my wwmd...
[11:36] {Threei} no help from support/resistandce levels from the past
[11:36] {RonS} what would magoo do?
[11:36] {magoo} no slap??
[11:36] {magoo} id short lvs on a bounce
[11:36] {magoo} or hold rimm to oblivion short
[11:36] {Threei} magoo would whine and swear in the process, Ron
[11:36] {magoo} which im doing
[11:37] {magoo} and smash thiongs
[11:37] {Threei} right
[11:37] {RonS} smash thongs?
[11:37] {Threei} don't go there
[11:37] {Threei} cowboy smashing thongs...
[11:37] {Threei} yikes
[11:38] {magoo} sounds like a movie with heath ledger :)
[11:38] {Threei} lol
[11:39] {magoo} por guy
[11:40] {dino} lol
[11:40] {Threei} next round of selling is about to hit
[11:41] {larisa} pessimist
[11:41] {magoo} AIG short ?
[11:42] {Threei} not sure about AIG
[11:43] {magoo} LVS volume spike at 42
[11:44] {RonS} out by .91 +.19...saw a huge bid at .90...
[11:44] {RonS} bby
[11:45] {Threei} wtg
[11:45] {nemo} what happened
[11:45] {nemo} ?
[11:45] {RonS} shorted bby on my own nemo
[11:46] {nemo} congrats...I'm always one early.
[11:47] {Threei} you also missed discussion of cowboy side in magoo
[11:48] {Threei} very disturbing discussion, I must add
[11:49] {Threei} but then again, not many things about magoo are not disturbing
[11:51] {dino} out cisg .63, +.40
[11:52] {RonS} wtg
[11:52] {dino} ty
[11:52] {Threei} nice
[11:56] {ese} L ovti .23
[12:00] {ese} out .29 +.06
[12:05] {Threei} RIMM, nice drawdown after losing that .50
[12:06] {Threei} LOL, UN lifted Iraq sabctions today
[12:06] {Threei} snactions
[12:06] {Threei} whatever
[12:07] {Threei} 7 years after the overthrowing Hussein
[12:07] {Threei} they sure take their sweet time
[12:11] {RonS} ...they had a lot of parties to attend...
[12:12] {dino} stuck in tight range again
[12:13] {magoo} was on phone, is this rimm low?
[12:13] {magoo} still sh
[12:13] {magoo} from .80
[12:14] {magoo} looks lower
[12:14] {Threei} yes, makes new lows
[12:14] {magoo} hello?
[12:14] {Threei} phone talk is over
[12:15] {magoo} vad, 58.50?
[12:15] {Threei} no way to tell
[12:15] {Threei} that .50 support was ll RIMM had
[12:15] {Threei} no support on intraday, and n earest on daily is around 58
[12:18] {magoo} out
[12:18] {Threei} good trade
[12:23] {Threei} (US) Senate begins first of 4 votes to deal with the tax cut extension bill (3 amendments, then the final vote on passage)
[12:24] {dino} gj
[12:25] {dino} ccih?
[12:25] {Threei} no newss
[12:25] {Threei} extremely thin
[12:25] {Threei} bulimic
[12:28] {Threei} see BBY?
[12:29] {dino} lod
[12:29] {Threei} no standing power whatsoever since main support failure
[12:29] {dino} 34.25 imo
[12:30] {ese} L rvbd .87
[12:31] {magoo} pace pix up BBY
[12:40] {ese} rvbd stopped .70 -.17 too many times to the well
[12:43] {Threei} looking for short in GLD
[12:45] {Threei} standard setup would be .30 break, if stays under .40
[12:45] {Threei} I'd prefer short into bounce though
[12:46] {nemo} look at support on 15 minute chart
[12:46] {Threei} won't hold
[12:47] {magoo} rimm losing the 00
[12:48] {Threei} still think I was not in tune with direction mags?
[12:48] {Threei} {--- looking for an excuse for another slap
[12:48] {magoo} yup
[12:48] {Threei} wait... why do I need an excuse
06[12:48] * Threei slaps magoo around a bit with a large trout
[12:48] {magoo} luvin it
[12:48] {Threei} lol
[12:51] {dino} tin stopped -.32
[12:53] {jfjf64} bring stop dn??
[12:54] {Threei} ?
[12:54] {Threei} asking who and about what, jf?
[12:55] {jfjf64} you
[12:55] {jfjf64} gld
[12:55] {jfjf64} .40
[12:55] {jfjf64} stop
[12:55] {Threei} GLD 1:1, if you went for either vesrion of entry
[12:55] {jfjf64} 1/1
[12:55] {jfjf64} ty
[12:55] {Threei} so, scalp if you want to scalp,
[12:55] {Threei} but better cover half IMO
[12:55] {jfjf64} blla blaaa blaa
[12:55] {jfjf64} lol
[12:55] {jfjf64} lol
[12:56] {Threei} trail to b/e
[12:56] {Threei} and get this:
06[12:56] * Threei slaps jfjf64 around a bit with a large roll of cash
06[12:56] * Threei slaps jfjf64 around a bit with a large scalping course
06[12:56] * Threei slaps jfjf64 around a bit with a large Master Profit Plan
06[12:56] * Threei slaps jfjf64 around a bit with a large book of Techniques of Tape Reading
[12:56] {Threei} and for a good measure,
06[12:56] * Threei slaps jfjf64 around a bit with a large trout
[12:57] {Threei} day becomes brighter with each new slap
[12:57] {jfjf64} jf slaps 3i with TAO course
[12:57] {Threei} it's those juniper berries I am sure
[12:57] {nemo} cree
[12:58] {jfjf64} just dont go chasing RABBITS alice
[12:58] {nemo} I've got a bunny
[12:59] {jfjf64} hmm
[12:59] {jfjf64} ill leave that alone
[13:00] {Threei} lol
[13:00] {nemo} my nephew caught a baby rabbit just as it was about to be eaten by a cat...it never left
[13:00] {nemo} he named it "Bunny"
[13:01] {magoo} a sentimental side to nemo...who'd a thunk it
[13:01] {nemo} I used to have two dogs and 4 cats
[13:01] {nemo} mmhhhhh SHW
[13:03] {dino} a dog, a cat, a mouse, a rat, a fly that won't die and a little gnat
[13:03] {nemo} from where does that come?
[13:03] {dino} run dmc or beastie boys
[13:04] {nemo} oh jeez
[13:04] {dino} showing my age again huh
[13:04] {nemo} no...mine
[13:04] {dino} useless junk stuck in my head that i can't get rid of
[13:07] {Threei} lol
[13:07] {Threei} ok, edited slap script a bit, testing
06[13:07] * Threei slaps magoo around a bit with A Taoist Trader Course
[13:08] {Threei} yup... works
[13:09] {jfjf64} i must read more tao trader
[13:09] {jfjf64} jf got lazy this month
[13:10] {Threei} well... when to get lazy if not December
[13:10] {Threei} jan...
[13:10] {Threei} feb...
[13:10] {Threei} etc
[13:12] {nemo} aig
[13:12] {Threei} I know where the senter of insanity is in USA
[13:12] {Threei} Berkeley, Ca
[13:13] {Threei} naming the military guy who stole information for wikileaks a hero
[13:14] {Threei} why do these people insist on legalizing marijuana, they seems to be doing well as it is
[13:14] {Threei} (US) Senate passes the compromise tax cut extension bill (reaches majority threshold, voting continues)
[13:14] {Threei} - Extends Bush tax cuts for 2 years for all taxpayers. Bill includes the temporary 2% payroll tax holiday.
[13:14] {Threei} - Bill will next move to the House for review.
[13:15] {Threei} so what's the compromise? It sounds like the same bill House passed?
[13:18] {nemo} this should go over well in the bond market
[13:20] {magoo} wonder if 'W" grinning
[13:20] {magoo} how we miss AIG?
[13:21] {nemo} it just launched
[13:21] {magoo} thats your job nemo
[13:21] {magoo} launch alert
[13:22] {dino} brcm to flat
[13:27] {larisa} trying to find post where you got in?
[13:29] {dino} .10
[13:29] {dino} around noon
[13:29] {Threei} RIMM is so dead
[13:29] {larisa} ty
[13:33] {magoo} JOE pop
[13:33] {magoo} joe-mama
[13:35] {magoo} am i here?
[13:35] {magoo} or ignoring magoo
[13:36] {larisa} both? :)
[13:37] {magoo} BIDu death
[13:37] {magoo} SHIT
[13:37] {magoo} bam
[13:38] {Threei} pretty much trades llike news
[13:38] {Threei} I don't see any yet
[13:39] {dino} bidu gap fill oct
[13:39] {Threei} wow
[13:39] {magoo} CAUFGHT Va point
[13:39] {Threei} don't you dare try and catch bottom
[13:39] {magoo} out .87
[13:39] {Threei} wtg
[13:39] {magoo} 101 87
[13:40] {magoo} my alert was 103.30 area
[13:40] {nemo} cree
[13:40] {ese} gotta go all
[13:40] {magoo} bathroom?
[13:41] {Threei} take care ese
[13:41] {ese} ya
[13:41] {Threei} lol
[13:41] {ese} lol
[13:41] {ese} god one mags
[13:41] {ese} good
[13:41] {Threei} what the deuce... still no news BIDU
[13:41] {magoo} ty, felt it coming
[13:41] {dino} lowers growth rate
[13:43] {magoo} sh 102
[13:45] {magoo} 89 out
[13:45] {magoo} scared me
[13:46] {magoo} vad, BIDU feels much lower, thoughts?
[13:49] {nemo} tna break .40?
[13:50] {nemo} in
[13:51] {Threei} can't tell mags
[13:52] {magoo} is that an automated response?
[13:52] {Threei} no, this is:
06[13:52] * Threei slaps magoo around a bit with a large trout
[13:52] {magoo} wheres the RIMM short entry vad?
[13:53] {Threei} can't tell mags
[13:53] {Threei} wait...
[13:53] {Threei} it is automated...
[13:53] {Threei} but on serious side, nit looking to short rimm here
[13:54] {larisa} who is nit?
[13:55] {dino} brcm to .45
[13:57] {jfjf64} lookin at different techidicators doesnt anyone use macd
[13:59] {larisa} MACD is one of the "better" ones THEY say :) many people do use it.
[13:59] {dino} not i
[13:59] {RonS} no. will not make you money. tried 2 years. total rear view mirror indicator
[14:00] {dino} out brcm +.40
[14:00] {RonS} gj
[14:00] {dino} thx
[14:00] {larisa} which one will make you money? indicator is here just to help you to interperet price behavior
[14:00] {larisa} gj dino
[14:00] {dino} thx
[14:00] {nemo} 1/2 out .58
[14:00] {jfjf64} true larisa
[14:01] {jfjf64} smart answer
[14:01] {jfjf64} ill drink to that
[14:02] {larisa} if you are trend trader, find the one that shows trend the best.. if you are reversal trader, find good divergence indi.. etc etc :)
[14:03] {Threei} just gimmie one that makes money
[14:03] {Threei} while I sleep
[14:04] {jfjf64} lol
[14:04] {RonS} just plug me in to Goldman's computer...
[14:05] {larisa} gj on TNA nemo, liked the entry
[14:06] {nemo} ty
[14:07] {nemo} now if I can get the exit right
[14:10] {nemo} stopped 2nd hapf
[14:11] {nemo} gonna rinse me
[14:18] {nemo} bby bear flag?
[14:19] {nemo} 5 min
[14:19] {Threei} doesn't look right
[14:20] {nemo} x
[14:28] {nemo} oil continues up even when gold down
[14:29] {RonS} rig/bp
[14:30] {davd} careful with rig and bp - govt lawsuit ...
[14:31] {nemo} spy in no man's land
[14:32] {RonS} boogah...dive...dive
[14:32] {stewy} .
[14:34] {dino} mnkd
[14:34] {Threei} finally we are gettinf some nice red in the market'
[14:36] {magoo} get to a call vadrick the slayer
[14:37] {dino} impaler
[14:37] {magoo} yea thats it :)
[14:37] {Threei} need to talk it over with buffy
[14:38] {magoo} BIDU gpoing to rot
[14:41] {dino} buffy was hot
[14:42] {nemo} WAS is the operative word here
[14:42] {dino} smg still looks hot imo
[14:42] {nemo} bby looking like a bear flag yet vad 5min chart
[14:44] {Threei} probably...
[14:44] {Threei} not confident enough for a call
[14:44] {nemo} I'm having visions of the scarecrow on the pole "Thataway"
[14:44] {jfjf64} LOL
[14:48] {dino} maxy stopped -.08
[14:49] {magoo} BIDU short
[14:50] {magoo} thinkin new lows
[14:52] {nemo} entry mags?
[14:52] {magoo} 102
[14:54] {magoo} see if we can get bounce
[14:55] {magoo} covered .68
[14:55] {nemo} doji doji doji, doesn't know what it wants to do
[14:55] {magoo} wants to crash imo
[14:55] {magoo} but it rinses
[14:56] {Threei} really feels like crashing
[14:56] {magoo} new lows comin
[14:56] {magoo} reentered .52
[14:56] {Threei} lol, me too
[14:56] {Threei} out
[14:56] {Threei} .25
[15:01] {magoo} 101 ciov
[15:01] {magoo} had more shares than rwealized, almost fainyted
[15:02] {RonS} 10k?
[15:02] {magoo} much lower imo
[15:02] {Threei} you are just walking disaster waiting to happen, lol
[15:02] {magoo} nothing saving it today
[15:03] {magoo} being friday
[15:03] {Threei} friday?
[15:03] {Threei} today?
[15:03] {Threei} I want what mags is smoking... must be amazing stuff
[15:03] {dino} gj
[15:05] {Threei} another break
[15:05] {RonS} ...no smoke...'shrooms from the woods...
[15:05] {Threei} holding better this time though
[15:05] {Threei} not shorting it anymore
[15:05] {magoo} well, mkts turning up
[15:05] {Threei} risk is too great
[15:05] {magoo} need mkt help too
[15:07] {nemo} I've got bidu support at .50, not super strong
[15:07] {nemo} frickin yoku
[15:08] {dino} back at ya
[15:08] {dino} :D
[15:08] {nemo} I didn't say yoke
[15:08] {nemo} yokel
[15:09] {RonS} mnkd whip
[15:10] {dino} out cld ave +.21
[15:10] {RonS} gj
[15:11] {magoo} gonna lose 100
[15:12] {dino} thx
[15:14] {magoo} DIEEEEEEEEEEEEEEE
[15:15] {magoo} PANIOC COME ONNNNNNNNNNNNN
[15:16] {magoo} 100 tough
[15:20] {dino} could be toying w/100 strike magoo, exp fri
[15:21] {magoo} good point
[15:29] {RonS} great, got a $4500 tick on my bidu chart...chart's now worthless
[15:30] {Threei} lol
[15:30] {dino} lol
[15:31] {dino} that was les' buy
[15:33] {RonS} w/ the Bellagio chips...fast money guys were saying it had to be a promo since the guy was so lame runiing out of there
[15:33] {dino} back in ten
[15:34] {dino} those fhips have rfid, voided as soon as he stepped outside
[15:34] {dino} chips
[15:38] {nemo} here comes the spy push for flat
[15:40] {nemo} can't close in the red you know
[15:46] {nemo} done c ya
[15:47] {RonS} cya nemo
[15:47] {magoo} bye capn
[15:47] {Threei} take care nemo
[15:53] {Threei} Short Setup: RIMM .15 break half lot
[15:54] {Threei} for a quick scalp
[15:54] {Threei} only if sets up within a min or two
[15:55] {Threei} wow BIDU... no staying power whatsoever
[15:55] {Threei} stop above .20 RIMM
[15:55] {Threei} or close time
[15:56] {Threei} 5 min left, come on RIMM
[15:56] {Threei} die quickly
[15:56] {Threei} and die hard
[15:57] {Threei} 1:1
[15:58] {Threei} "moral satisfaction" trade
[15:58] {larisa} bye all!
[15:58] {dino} .
[15:58] {dino} cya lari
[15:59] {Threei} take care larisa
[16:00] {Threei} thank you all
[16:00] {Threei} have a good evening, see you tomorrow
[16:00] {harth} cya Thurs!
[16:00] {stewy} tks have a gd night
[16:01] {jfjf64} good night al
[16:01] {jfjf64} all
[16:03] {magoo} bye

Dec 14 2010

This double top is about as perfect as they get. What I want to see for a nice clean double top:


1. Second top is lower than the first one.
2. Volume on the second top is lower than on the first one.
3. While the first top peaks out above the upper Bollinger Band, second one remains inside.


Annotations on the chart show the story. Together with early LVS short, made for a nice morning. The rest of the day was mostly boring, with a few more trades but nothing of note.

Session Time: Tue Dec 14 00:00:02 2010
[08:28] {nemo} http://www.youtube.com/watch?v=DOq-8kvAV3o&feature=related
[08:50] {dino} gm all
[08:50] {Threei}  dino :)
[08:53] {davd} gm all
[08:53] {dino} :D
[08:53] {Threei}  davd :)
[08:53] {RonS} hi guys
[08:53] {Threei}  Ron :)
[08:53] {davd} i did my part at bbuy  they can't blame me
[08:54] {Threei}  it could be my fault...
[08:54] {RonS} me too...
[08:54] {Threei}  they asked me to buy that GPS... but newegg had it for half price
[08:58] {RonS} safm has a good q...guess that's why there are no chickens in the freezer
[08:58] {Threei}  lol
[08:58] {davd} i probably wasn't that big a help, browed at bbuy bought online as well.
[08:59] {Threei}  yeah, onslaught of online stores is hard on brick-and-mortar
[08:59] {RonS} co is a great meat market...isolated and close to producers so stuff gets dumped here all the time
[08:59] {RonS} just have to wait...
[08:59] {Threei}  seeing how things go in photo industry, I have hard time seeing how they survive
[09:00] {Threei}  people come to the store to handle the camera they research, to evaluate the ergonomics
[09:00] {Threei}  nod, go back home and order it online
[09:00] {nemo} Yeah, the problem with brick and mortar stores....there are people there
[09:01] {Threei}  at least in film times they could provide constant supply of film, paper, chemicals etc... in digital era, this whole stream of revenue dried up
[09:02] {Threei}  plus chain stores with their pricing, killing local stores... sure local ones provide much more knoswleageable stuff but who cares if you can find all the information online
[09:03] {magoo} morn
[09:03] {Threei}  mags
[09:03] {magoo} hey vad, now my iscan needs days added if u know what i mean, its down-expired
[09:03] {magoo} mam-0-man
[09:04] {Threei}  not a problem
[09:04] {RonS} ...and the saga continues...
[09:04] {magoo} im starting to get the hint he he
[09:04] {magoo} after all these years, u want me gone :)
[09:05] {Threei}  dcc me your iscan username please
[09:06] {RonS} magoo needs to go see Tron...won't think he has it so bad after  :D
[09:07] {Threei}  mags?
[09:07] {magoo} looking
[09:07] {Threei}  just start it
[09:07] {Threei}  it has username right in the window
[09:09] {ese} morning
[09:09] {nemo} BBY low is gap support, below is about 35.60 then 34.80
[09:09] {Threei}  ese :)
[09:12] {harth} Good Morning All!
[09:12] {Threei}  harth :)
[09:13] {RonS} hey harth, how's it for you?
[09:13] {magoo} iscan_8118
[09:13] {magoo} AMGN
[09:13] {Threei}  done
[09:13] {harth} I'm waking up:)
[09:14] {ese} the fish that got away.......looking back the old 20/20 thing.......was thinking about 5k of rimm when it was in that 45 area.....hmmmmcoulda shoulda woulda
[09:14] {magoo} ok, easy button vad
[09:15] {Threei}  :)
[09:19] {RonS} my imagination? but do thinks seem dicey this a.m.?
[09:20] {RonS} things
[09:20] {larisa} gm :)
[09:20] {Threei}  don't they always
[09:20] {Threei}  larisa :)
[09:20] {larisa} vad :)
[09:20] {ese} diiiinoooooo.........whats your take on the colleges these days....sold that pos in apol yesterday at 81 around 3pm +.24
[09:21] {ese} they look like they've bottomed out somewhat........
[09:22] {magoo} isnt there a fed decicision today 2:15?
[09:22] {RonS} so did Bear and Lehman...too many of those guys
[09:22] {Threei}  grrrr
[09:22] {Threei}  thought of BBY short at 36 break
[09:22] {Threei}  and looked away
[09:23] {magoo} me too vad
[09:23] {nemo} if it drops it again...likely to 34.80
[09:23] {stewy} g morning all
[09:23] {dino} gap 34.65 area
[09:23] {Threei}  stewy :)
[09:23] {dino} also 33.93
[09:23] {dino} 31.41
[09:23] {nemo} yeah...I have to look at 4 hour charts to see it
[09:24] {nemo} maybe short into 36 if it gets there
[09:24] {dino} veco
[09:25] {ese} ahhh  i see what youze is talkin about.......that is not a very good "Q" for bby......ouch
[09:26] {ese} colleges dino....you got them on a radar anywhere
[09:26] {dino} just esi
[09:26] {dino} they are trading wickedly
[09:27] {RonS} guvmint headline risk...
[09:27] {dino} speaking of colleges, hitting penn state this weekend
[09:27] {ese} tks.....did ok with apol yesterday just wonderin what you thought
[09:27] {RonS} ...won't it hurt, dino?
[09:27] {ese} whats up there
[09:28] {dino} lol, niece graduating, aerospace engineering, pratt & whitney grabbed her/utx
[09:28] {ese} penn state that is?
[09:28] {RonS} nice.
[09:28] {ese} nice....congrats
[09:28] {dino} indeed
[09:30] {dino} scanners rocking
[09:30] {jfjf64} MORNIN
[09:30] {ese} jf
[09:30] {Threei}  jf :)
[09:33] {nemo} LVS
[09:33] {Threei} Short Setup: LVS  .70 break half lot
[09:34] {Threei}  .80 and .85, for scalpers and day traders
[09:34] {Threei}  1:1
[09:34] {dino} rvbd drop
[09:35] {Threei}  1:1 too
[09:35] {jfjf64} .54 out
[09:35] {jfjf64} ty
[09:35] {Threei}  yw
[09:36] {magoo} out .55 ty
[09:36] {stewy} .51 out. ty
[09:36] {Threei}  :)
[09:37] {jfjf64} bby
[09:37] {jfjf64} lots  vol
[09:37] {jfjf64} ??
[09:38] {Threei}  LVS 1: I can't count that far
[09:38] {Threei}  out in full
[09:38] {jfjf64} gj
[09:38] {magoo} LULU lost 69
[09:38] {magoo} full xmas tree
[09:38] {Threei}  RIMM, watching for another leg down and long around .80 - .90
[09:40] {Threei}  hmmm
[09:40] {Threei}  looking for short entry instead
[09:40] {Threei}  .30 break
[09:41] {Threei}  if stays under .40
[09:41] {Threei}  double top, lower high
[09:41] {dino} rvbd sm l .86
[09:42] {Threei}  1:1, covering half
[09:42] {Threei}  stop to .35
[09:42] {jfjf64} out full
[09:42] {jfjf64} ty
[09:42] {Threei}  yw
[09:42] {Threei}  1:2
[09:42] {jfjf64} grrr
[09:42] {Threei}  1/4 more out .07
[09:43] {Threei}  stop to .25
[09:43] {jfjf64} happen yest  too
[09:43] {jfjf64} gj
[09:43] {Threei}  like fish in a barrel
[09:43] {Threei}  they are strangely easy today
[09:43] {Threei}  1:3
[09:43] {Threei}  out .97
[09:44] {Threei}  watching for that reversal around .80 again
[09:46] {nemo} aig
[09:47] {Threei}  ugh
[09:47] {Threei}  this one got away biog time
[09:48] {dino} all red
[09:48] {Threei}  'cept AIG {G}
[09:49] {jfjf64} hig
[09:49] {ese} vix......sky rocket.....
[09:49] {jfjf64} .07 break
[09:50] {nemo} This is sell down before FOMC then it will  fly
[09:50] {jfjf64} no hig
[09:52] {ese} refering to the vix nemo
[09:52] {nemo} No market
[09:53] {dino} indecision, whippy
[09:53] {ese} ya
[09:53] {Threei}  they are jockeying for position ahead of FOMC as if FOMC mattered
[09:54] {nemo} It doesn't, but it always serves as a launch point
[09:54] {Threei}  what can they decide or say today that would be a surpise?
[09:54] {dino} hamburgers
[09:54] {Threei}  rates stay where they are for the foreseeable future
[09:54] {Threei}  recovery is underway but muted
[09:55] {Threei}  unemployemtn uncomfortably high, recovers, but too slow
[09:55] {nemo} And the Fed will buy a ton of bonds
[09:55] {Threei}  there, I said everything they will
[09:55] {Threei}  right
[09:57] {RonS} Emperor Bernancke will solidify the recovery by shaving his beard
[09:57] {Threei}  ugh
[09:57] {Threei}  LVS
[09:57] {Threei}  .10 breakdown, why did I hesitate to call it
[09:58] {Threei}  easy scalp
[09:58] {Threei}  numbers in two min
[09:58] {Threei}  didn't think trade would resolve tghis fast
[09:58] {Threei}  let's wait them out
[09:58] {Threei}  not overly important, business inventory
[10:00] {Threei}  (US) OCT BUSINESS INVENTORIES: 0.7% V 1.0%E
[10:03] {nemo} ARG
[10:03] {dino} trigger?
[10:04] {Threei} Short Setup: X  54 break
[10:04] {nemo} .61
[10:06] {Threei}  let's modify it
[10:06] {Threei}  .10 break
[10:06] {jfjf64} invalidated??
[10:06] {nemo} GMCR
[10:07] {Threei}  scalpers try to exit near 54, day traders partial out
[10:07] {nemo} In FOMC mode already
[10:08] {nemo} Cover half ARG 74
[10:08] {nemo} .74
[10:08] {Threei}  market spike
[10:08] {nemo} Quarter more .94
[10:09] {Threei}  X not
[10:09] {Threei}  so far so good
[10:09] {Threei}  nice one ARG
[10:09] {jfjf64} yes
[10:11] {dino} target nemo?
[10:11] {dino} gut says .29
[10:11] {jfjf64} lets gooooooooooooooo
[10:11] {nemo} Heavy resistance at 64.12
[10:12] {dino} jobs blood again today
[10:12] {nemo} Stop the last quarter .70
[10:12] {jfjf64} yabba dabba dooo
[10:12] {jfjf64} die
[10:12] {jfjf64} x
[10:14] {nemo} If lower high on ARG here.  I'm out
[10:14] {ese} L zion .08
[10:14] {jfjf64} .21 stop x
[10:14] {jfjf64} ??
[10:14] {ese} crap load
[10:17] {ese} out 1/2  .14 +.06
[10:17] {nemo} AMGN
[10:19] {dino} arg to .81
[10:19] {dino} out +.30 ty nemo
[10:19] {nemo} I am out
[10:20] {Threei}  beautiful play
[10:20] {Threei}  no go X
[10:21] {stewy} .
[10:22] {stewy} 3i, gld bull flag?
[10:23] {dino} rvbd to .46
[10:23] {dino} out+.60
[10:24] {ese} out in full zion ..19 +.11
[10:24] {RonS} gj
[10:24] {Threei}  hard to tell GLD
[10:24] {Threei}  not sure
[10:24] {ese} tks 4k/4k
[10:25] {Threei}  btw guys, don't forget to look today's catch of the day chart
[10:25] {stewy} tks
[10:25] {Threei}  that is classic of double tops, with all the signs that make it perfect
[10:25] {Threei}  must know
[10:27] {jfjf64} rimm
[10:28] {nemo} ARG dino
[10:29] {jfjf64} .60 break  short
[10:31] {dino} like it on break of .00
[10:32] {dino} ctrp
[10:33] {nemo} Meli
[10:37] {dino} ctrp sm l .25
[10:40] {jfjf64} fdx
[10:40] {jfjf64} d/b
[10:40] {jfjf64} ??
[10:42] {Threei}  nag
[10:42] {Threei}  nah
[10:42] {Threei}  looks breakdownish rather
[10:42] {jfjf64} ty
[10:43] {RonS} whr
[10:44] {dino} ctrp stopped -.28
[10:46] {RonS} say it ain't so...
[10:52] {RonS} whr squeeze
[10:53] {RonS} veco blood
[10:55] {RonS} whr takeover rumor
[10:57] {ese} thats interesting.....
[10:59] {dino} ctrp sm l .96
[11:01] {nemo} SOB LVS rinsed me on a short
[11:01] {ese} whr is also a bitc.... to trade.....dino does it but i don't know how
[11:02] {dino} veco sm l .25
[11:04] {nemo} AIG just keeps climbing
[11:07] {dino} tel'
[11:07] {dino} too high right now es, whr
[11:08] {dino} tel fast fall
[11:10] {Threei}  no even slightest pullback, AIG
[11:11] {magoo} is there a trade in it vad?
[11:11] {Threei}  I remember some poor soul proudly and confidently pronouncing at some point how AIG is worth zero and how he was shorting it "right here right now", to ignore manipulation and cash out big time in the future
[11:12] {Threei}  will be a short soon, but timing is near impossible other than by luck
[11:12] {Threei}  so the question is... do you feel lucky?
[11:13] {Threei}  (in my best Clint Eastwood voice)
[11:14] {larisa} technically broke uptrend 52.25, dived under and pulled back to .25 , so short it there with stop at .40 :) i am not :)
[11:14] {magoo} news AIG?
[11:15] {Threei}  I have a feeling, you just encoueraged magoo to become a punk
[11:15] {Threei}  no
[11:15] {magoo} nah, i look both ways, maybe a long
[11:16] {Threei}  quite possible but risk becomes unacceptable
[11:16] {larisa} too fast to handle safely
[11:20] {dino} veco stopped -.37
[11:20] {RonS} veco sm l .80
[11:21] {RonS} btw dino, had it preset...not doggin you...
[11:22] {dino} np, gl
[11:29] {RonS} out veco -.10...just not acting well
[11:30] {ese} whats veco's problem anyway
[11:31] {RonS} bby report i guess...but maybe someone know something neg w/ their aapl relationship
[11:33] {dino} rumors china stops sub the led makers
[11:34] {RonS} ?
[11:34] {dino} veco
[11:34] {RonS} china stops sub?
[11:34] {dino} subsidizing
[11:35] {RonS} affects veco how?
[11:35] {dino} veco supplies the backbone to led manu
[11:35] {RonS} i thought these guys made the cameras in the iphone
[11:35] {dino} nope
[11:36] {RonS} oops
[11:39] {RonS} veco, the only thing i see is a Citi downgrade with the price taget cut to $50
[11:40] {dino} cyber
[11:41] {RonS} cipher
[11:41] {dino} cyber had the news
[11:42] {RonS} ah
[11:45] {RonS} ok, last comment veco...w/ 13 mil sh short that is a "convenient" news story
[11:45] {magoo} VECO, so other news dino than downgrade?
[11:46] {RonS} lol
[11:47] {magoo} vad, wake up
[11:47] {Threei}  why??
[11:47] {RonS} rotflol
[11:47] {dino} slap
[11:49] {nemo} VECO support 44.53.  Then 43.75
[11:50] {nemo} NE
[11:51] {nemo} Resistance break
[11:56] {nemo} LVS watch the buy the new low program
[11:57] {nemo} WHR potential short
[11:58] {nemo} Lunchtime of course
[12:07] {ese} L fitb .637425
[12:08] {nemo} lvs
[12:08] {ese} go ahead....get a better price than that
[12:09] {nemo} 3.1416
[12:09] {nemo} frickin' buy the new low program again
[12:09] {ese} lol
[12:19] {dino} veco
[12:26] {Threei} Short Setup: AIG  .70 break
[12:26] {Threei}  stop above .80
[12:28] {Threei}  1:1
[12:28] {nemo} too fast
[12:29] {Threei}  what's with me and LVS today, missed short again, at 44.10
[12:29] {Threei}  AIG should be capable of more
[12:31] {Threei}  nah, scalpers win
[12:31] {dino} veco sm l .80
[12:32] {nemo} gmcr
[12:35] {ese} fitb...tick tick tick tick tick........staring impatiently at my watch
[12:40] {ese} annndddddd..............iiiiiiiiiittttttttttt.......................iissssssssssss.............hmmmmmmmm.........stalled
[12:42] {jfjf64} 3i
[12:42] {jfjf64} .85 short lvs
[12:42] {stewy} .
[12:43] {ese} cooking up a storm no less
[12:44] {stewy} too cold to bbq
[12:44] {ese} there are the long patches of mundane boredom you talk about eh???   vad
[12:44] {Threei}  probabkly jf, if market drops more
[12:44] {ese} these
[12:44] {jfjf64} in
[12:44] {Threei}  stewy... hate to do it to you but we had a record high this weekend...
[12:45] {Threei}  KVS 1:1
[12:45] {jfjf64} cover
[12:45] {Threei}  LVS too
[12:45] {jfjf64} nice nice
[12:45] {stewy} and the opposite here:s
[12:46] {jfjf64} .75 ton  shares
[12:46] {nemo} Oh just noticed it is afternoon.  You know what that means?
[12:47] {RonS} they let mags out of pen?
[12:47] {jfjf64} .75 break
[12:47] {magoo} imdead
[12:47] {jfjf64} hold .70
[12:47] {magoo} took veco and yoku..dead
[12:47] {jfjf64} nope
[12:47] {jfjf64} lower
[12:48] {magoo} nice bottom hit veco dino
[12:49] {nemo} I've got 75 is support for Lvs
[12:49] {nemo} .75
[12:49] {nemo} Pivot support .46
[12:51] {nemo} See those tails on LVS
[12:51] {jfjf64} yes
[12:51] {nemo} That's slightly bullish, you might want to tighten your stop
[12:51] {jfjf64} whats that mean
[12:52] {nemo} The Bears can't keep the price down
[12:52] {Threei}  signakls support strenghtening
[12:52] {nemo} Think about it price goes lower, but gets pushed back
[12:52] {nemo} Price goes lower, gets pushed back
[12:52] {nemo} Still might go your way just be aware
[12:52] {Threei}  thus the tail
[12:53] {nemo} eqzaktly
[12:53] {jfjf64} all tail  lead  north
[12:53] {nemo} So you probably want to put your stop at .760 .77
[12:53] {jfjf64} no
[12:54] {Threei}  who needs something to distract themselves from making silly trades:
[12:54] {Threei}  http://photography.realitytrader.com/2010/12/just-joke.html
[12:55] {jfjf64} lol
[12:55] {harth} ty
[12:55] {jfjf64} in
[12:55] {jfjf64} .71
[12:55] {nemo} In the long or in short, JF?
[12:55] {jfjf64} long
[12:56] {jfjf64} you agree
[12:57] {jfjf64} cover.78
[12:57] {nemo} More likely long still lunch for FOMC could churn a bit
[12:57] {nemo} Nice move
[12:58] {jfjf64} market sellin
[12:59] {jfjf64} lvs  holdin
[13:04] {Threei}  those tails signalled reversal well
[13:04] {jfjf64} yes
[13:04] {nemo} Not as dumb as I look
[13:04] {jfjf64} look chart  all day
[13:04] {nemo} On five minute chart at resistance
[13:05] {nemo} VECO Sauve
[13:09] {jfjf64} 5 min chart blow off top reversal
[13:09] {jfjf64} nemo
[13:10] {jfjf64} 30 sec
[13:10] {jfjf64} nope
[13:10] {jfjf64} higher
[13:11] {jfjf64} hmm
[13:11] {Threei}  learned new trick today, jf? :)
[13:12] {jfjf64} yup
[13:13] {jfjf64} lots ways to skin  cat
[13:15] {jfjf64} 44
[13:16] {jfjf64} short
[13:16] {nemo} Candlesticks are worth learning about
[13:16] {jfjf64} blow off top
[13:16] {jfjf64} 5 min
[13:16] {nemo} What are you sure can
[13:16] {nemo} shorting
[13:16] {jfjf64} yes
[13:17] {nemo} What's stock
[13:17] {nemo} ?
[13:17] {jfjf64} lvs
[13:17] {jfjf64} hold.12
[13:18] {larisa} all that learning.. can i be just like dino, when all you need is Luck ? :)
[13:18] {nemo} VWAP is at 44.55.  What
[13:18] {jfjf64} in
[13:18] {nemo} What your target
[13:19] {nemo} JF what is your target?
[13:19] {RonS} veco...curious low block volume
[13:22] {jfjf64} flat
[13:22] {jfjf64} stick ya candels
[13:22] {nemo} Are you out, JS?
[13:22] {nemo} No they will stick you
[13:22] {jfjf64} yes
[13:26] {jfjf64} x
[13:27] {jfjf64} vol  coming in
[13:32] {jfjf64} x
[13:32] {jfjf64} blow off top 1 min
[13:38] {ese} out fitb .55 -.08
[13:41] {dino} strange day, no bounces on the bloodied ones
[13:43] {ese} ya
[13:43] {nemo} A goose is speaking in my ear
[13:48] {magoo} vad, what your gut say after announcemt? up or down today?
[13:48] {Threei}  hmmm
[13:49] {nemo} Up why should today be any different from any other day
[13:49] {Threei}  spike up, then slide down
[13:49] {dino} close flat to slighly neg.
[13:49] {Threei}  right
[13:56] {larisa} nope, 100+ close :)
[13:56] {Threei}  any more bets?
[13:56] {dino} veco lod again
[14:01] {dino} veco sm l .20
[14:02] {nemo} Right before FOMC...  Interesting
[14:08] {nemo} Small caps dropping
[14:11] {Threei}  4 min
[14:13] {magoo} it will be late as usual
[14:14] {RonS} what? does jf work there?
[14:16] {Threei}  haha
[14:16] {Threei}  *FOMC HOLDS FED FUNDS RATE TARGET AT 0.25% (AS EXPECTED); REITERATES RATE TO STAY LOW FOR EXTENDED PERIOD
[14:16] {Threei}  - Vote 8-1 (Hoenig again dissents);
[14:16] {Threei}  big surprize
[14:17] {Threei}  - confirms that the economic recovery is continuing, though at a rate that has been insufficient to bring down unemployment. Household spending is increasing at a moderate pace, but remains constrained by high unemployment, modest income growth, lower housing wealth, and tight credit. Business spending on equipment and software is rising, though less rapidly than earlier in the year, while investment in nonresidential structures continues to be weak. Employers remain reluctant to add to payrolls. The housing sector continues to be depressed. Longer-term inflation expectations have remained stable, but measures of underlying inflation have continued to trend downward.
[14:17] {Threei}  - To promote a stronger pace of economic recovery and to help ensure that inflation, over time, is at levels consistent with its mandate, the Committee decided today to continue expanding its holdings of securities as announced in November. The Committee will maintain its existing policy of reinvesting principal payments from its securities holdings. In addition, the Committee intends to purchase $600 billion of longer-term Treasury securities by the end of the second quarter of 2011, a pace of about $75 billion per month. The Committee will regularly review the pace of its securities purchases and the overall size of the asset-purchase program in light of incoming information and will adjust the program as needed to best foster maximum employment and price stability.
[14:21] {jfjf64} .85
[14:21] {jfjf64} lvs ton shares
[14:22] {jfjf64} mkt rippen
[14:23] {nemo} Market rips and I lost on LVS, Jesus Christ
[14:23] {jfjf64} tail here
[14:24] {Threei}  told you, LVS lost connection with market
[14:24] {Threei}  but have you listened? nooooooo
[14:28] {jfjf64} d/b spy
[14:41] {Threei}  whatever happens, AIG just goes up
[14:42] {Threei}  and LVS down
[14:43] {nemo} It's at serious Support.  It drops this could go to 41
[14:48] {Threei}  13:49] {Threei} spike up, then slide down
[14:48] {Threei}  so far so good
[14:49] {Threei}  if my 8-ball has any insight left, we must close red
[14:49] {stewy} isnt this the time
[14:49] {stewy} when we argue about
[14:49] {stewy} reactions to the reactions?
[14:49] {nemo} Go play with your dog
[14:50] {Threei}  easy.. but before starting arguing with me, fair warning: I ate two lbs of juniper berries this morning
[14:53] {nemo} Rimm short?
[14:53] {Threei}  looks like
[14:53] {Threei}  .65 break
[14:53] {Threei}  half lot
[14:53] {Threei}  if stays under .80
[14:54] {nemo} Oops look at 10 minute chart
[14:54] {Threei}  or full lot if stays under .75
[14:56] {Threei}  so far so good, confirmed resistance
[14:56] {Threei}  needs market help and trigger
[14:59] {Threei}  eneral Electric Co Guides FY11 Rev flat to +5%; sees soild earnings growth expected through 2011 and beyond, with acceleration in 2012 - investor presentation
[15:01] {Threei}  wow
[15:02] {Threei}  hundreds trapped in snow on the highway in Ontario
[15:02] {Threei}  since Monday!
[15:06] {Threei}  wow GE
[15:15] {Threei}  have you seen this heist in Belagio?
[15:16] {Threei}  right from the movie, lol... guy is going to spend the next 10 years cashing out those chips
[15:16] {jfjf64} ??
[15:17] {Threei}  guy in helmet walks in, takes out the gun at the crap table, leaves with 1.5 mil in chips, lol
[15:17] {Threei}  this morning
[15:18] {jfjf64} wow
[15:18] {jfjf64} chips tracable??
[15:18] {jfjf64} bet not
[15:18] {Threei}  dunno... but I just e-mail from Les saying that he significantly increased the size of his trading account as of this morning
[15:18] {dino} lol
[15:18] {jfjf64} lol
[15:19] {RonS} was he asking which bokers take Bellagio chips?
[15:19] {RonS} brokers
[15:19] {Threei}  hehe
[15:19] {Threei}  OK... time to go red
[15:19] {dino} take care all, leaving early today
[15:20] {Threei}  take care dino
[15:20] {stewy}  c ya
[15:20] {jfjf64} seebya dino
[15:21] {RonS} cya dino...i'm outta here too guys. 'till manana...
[15:21] {Threei}  panic is about to start
[15:21] {Threei}  take care Ron
[15:21] {larisa} what panic, that dino is leaving?
[15:22] {Threei}  sigh
[15:24] {Threei}  SPY went red
[15:29] {Threei}  RIMM like a stone
[15:37] {larisa} cmon market .. 11500 is better than 11400!
[15:41] {Threei}  nope
[15:55] {nemo} I'm looking at both FCX and DECK thinking long..nahhhh...not this late
[15:55] {nemo} Maybe I am as dumb as I look
[15:56] {Threei}  Ok guys
[15:56] {Threei}  thank you all
[15:57] {larisa} bye!
[15:57] {Threei}  have a good evening, see you tomorrow
[15:57] {stewy} ty good night all
[15:57] {larisa} 4 more minutes and you are losing the bet.. kinda..
[15:58] {harth} cya Wed!