Oct 24 2011

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5 calls, 4 wins and 1 stop sized at whole 7 cents. No complaints here. Let's also update the status of SVM swing trade: Now that we have made a new high, it's time to trail the stop for the balance of shares again, this time to $7.50, a bit under the last low of $7.67 made on 10/18. With $7.25 entry, it officially takes us in no lose territory. At $9.75 we have 1:2 risk/reward, and second partial is taken off the table. That cuts out initial shares to half, with new stop in the positive territory as indicated above.

Take a quick look also at our brief refreshment of the Europe situation and market reactions, 9:16 - 9:22

Session Time: Mon Oct 24 00:00:00 2011
[09:03] {ese} morning
[09:05] {RonS} good day everyone
[09:06] {ese} gm
[09:06] {Threei}  ese, ron :)
[09:07] {Threei}  nice news for SVM
[09:07] {swill} :)good morning
[09:07] {Threei}  swill :)
[09:10] {Threei}  An Obama administration official says President Barack Obama will announce new rules Monday to help homeowners with little or no equity in their homes refinance their mortgages to avoid foreclosures.
[09:10] {Threei}  The new program will apply to homeowners with federally guaranteed mortgages who are current on their payments. It cuts the cost of refinancing and removes caps for deeply underwater borrowers.
[09:10] {dino} gm all
[09:10] {Threei}  dino :)
[09:14] {dino} from above, you can tell election is getting close
[09:14] {Threei}  my frst thought
[09:16] {Threei}  quite amazing to watch how the game is played, re: european news and market reactions
[09:16] {Threei}  every negative headline causes new surge of buying, if it's not an immediate collapse news,
[09:16] {Threei}  total musical chairs game,
[09:17] {Threei}  bulls are charging, but are willing to get out on a moment notice,
[09:17] {Threei}  that's why volumes are relatively thin, it's nothing more that "the game of the moment"
[09:18] {Threei}  killing naive shorts who think that the market must tank right away since perspective is so grim
[09:18] {Threei}  Very typical case of information-price divergence
[09:18] {dino} the game the game, nothing quite the same, all that really matters is the game
[09:19] {Threei}  eqzaktly
[09:19] {Threei}  The path from here then is:
[09:20] {Threei}  if Europe doesn't find the way to kick the can down the road, buyers of last days get out in rush,
[09:20] {Threei}  slower ones get slaughtered
[09:20] {Threei}  new shorts will have practically no time to enter
[09:21] {Threei}  and move down will proceed with as few people on board as possible, in a very typical market fashion.
[09:21] {Threei}  If Europe does find that way, new crop of buyers will rush in,
[09:21] {Threei}  market will spike quickly, then drop sharply as pervious buyers exit into euphoria,
[09:22] {Threei}  and after shaking out weak hands, marhc up will resume, till next cluster of problems comes to attention.
[09:29] {Threei}  prepare half lot on FCX
[09:29] {Threei}  for a long on sharp drop
[09:30] {Threei}  quite possibly around 38 - 38.10
[09:30] {Threei}  if spikes instead, will look for a short
[09:31] {Threei} Short Setup: FCX  .70 break
[09:31] {Threei}  stop above .80
[09:32] {Threei}  half out .53
[09:32] {Threei}  stop to .75
[09:33] {Threei}  to .71
[09:34] {Threei}  to .65
[09:34] {Threei}  out .28
[09:35] {Threei} Short Setup: SLW  .20 break
[09:36] {Threei}  invalidated
[09:37] {Threei} Long Setup:  SLW  .35 break
[09:37] {Threei}  opps, late
[09:37] {Threei}  see if pulls back in .30 - .35 zone
[09:38] {Threei}  ok, same setup
[09:38] {Threei}  stop under .25
[09:38] {Threei}  1:1, half out
[09:38] {Threei}  very nice of SLW to give second chance
[09:38] {Threei}  stop to .33
[09:41] {Threei} Short Setup: RIMM  .15
[09:41] {Threei}  if staysd under .25
[09:41] {Threei}  half lot let's do
[09:42] {Threei}  invalidated
[09:43] {patience} good morning
[09:43] {Threei}  SLW, scalpers win
[09:43] {Threei}  morning patience
[09:43] {Threei}  are you back on firm ground?
[09:45] {patience} back to the fall leaves in victoria  :)
[09:45] {Threei}  got some: http://photography.realitytrader.com/2011/10/fall-is-back-again.html
[09:47] {patience} beautiful vad, exactly what it looks like flying over victoria
[09:53] {Threei}  ugh
[09:53] {Threei}  couldn't find guts to short SLW .50 break
[09:53] {Threei}  whimp
[10:02] {Threei}  SVM swing trade update
[10:02] {Threei}  http://goo.gl/DdhnY
[10:05] {Threei} Long Setup:  NVDA  15 break
[10:06] {Threei}  either normal low with stop under .90
[10:06] {Threei}  or double under .94
[10:06] {Threei}  low = lot
[10:07] {Threei}  1:1 for big shares plaers
[10:07] {Threei}  half out or scalp, your choice
[10:08] {Threei}  scalp type I who doesn't remember
[10:08] {Threei}  ese's favorite
[10:21] {Threei}  1:1 for normal lot players, 1:2 for big shares
[10:21] {Threei}  OK, you can breathe now
[10:22] {ese} ese's charts are all buggared up this morning
[10:22] {Threei}  need qiotes?
[10:22] {ese} no quotes.......or candlesticks...coming out a dashes
[10:23] {Threei}  yikes
[10:23] {ese} no
[10:25] {dino} out nvda +.10 ty 3i
[10:25] {Threei}  welcome :)
[10:26] {dino} banks want 40% greek haircut on debt, eu wants 60%
[10:26] {Threei}  so, they'll agree on 50
[10:26] {Threei}  the real question is, will it solve anything?
[10:27] {Threei}  'cause next thing we see is Portugal, Ireland, Spain, Italy say, how about OUR debt? No haircut for our creditors??
[10:33] {Threei}  starting hunt for RIMM reversal
[10:34] {Threei} Short Setup: RIMM  .80 break half lot
[10:34] {Threei}  change to .85
[10:34] {Threei}  more aggressive
[10:35] {Threei}  stop abpve .90
[10:37] {Threei}  cover half here, .74
[10:38] {Threei}  stop to .86
[10:40] {Threei}  stop to .81
[10:43] {dino} sxci sm l .00
[10:43] {dino} out .50, +.50
[10:43] {Threei}  closed RIMM in full
[10:43] {Threei}  wtg dino
[10:43] {dino} lucky
[10:43] {Threei}  sure, me too
[10:44] {Threei}  4 out of 4
[10:55] {dino} .
[10:56] {Threei}  (EU) UK PM Cameron: A referendum in the UK towards EU membership would not be appropriate- Reminder: Earlier some members of the parliament have called for a referendum on membership
[11:10] {Threei}  (US) Fed's Fisher: Have successfully warded off deflation
[11:10] {Threei}  I'll say
[11:10] {Threei}  for 98 years already
[11:11] {Threei}  (SP) Spain Climate minister notes that the country will not pay more for solar panels in the EU as Italy has done
[11:17] {Threei} Long Setup:  RIMM  .90 break if stays above .80
[11:17] {RonS} unusual move ibm
[11:19] {Threei}  no news that I see on it
[11:19] {Threei}  techs are strong
[11:30] {Threei}  - EUR/USD tested session lows of 1.3823 on concerns that Germany and France would not be able to reach a deal on the EFSF at Wednesday's EU leader summit. There were vague rumors that the summit could be again postponed, but the EU Commission stated that it remained on course. EU Commissioner Juncker stated what many analysts had already predicted, namely that banks needed to prepare for 50-60% losses on Greek debt.
[11:31] {Threei}  look at tghe next line:
[11:31] {Threei}  The euro was off its worst level of the morning after the ECB increased the amount it settled in its government bond buying program to 4.5B from last week's 2.2B.
[11:31] {Threei}  unfrikingbelieavable
[11:34] {Threei}  RIMM of course invalidated
[11:56] {dino} vad, regarding this, once the hit is taken is it the same re-inflation trade? your thoughts.
[11:57] {Threei}  I really can't tell
[11:58] {Threei}  it looks this way on a surface, but I suspect it's a bit more complicated
[11:58] {Threei}  the thing that gives me a pause is:
[11:58] {Threei}  this hit is merely a hiccup on the way to much bigger hits
[11:59] {Threei}  relief for a day or week, just until the rst of underwater countries demand the same treatment
[12:00] {Threei}  so, it's not they can say: OK, this is over, now let's deal with more calm waters in a usual manner
[12:00] {Threei}  it's rather one hoop to jump through after another,
[12:00] {Threei}  and each one triggers a few new ones
[12:01] {Threei}  not even speaking of absence of "normal" inflation mechanism in euroland
[12:01] {Threei}  they very structure of their currency is so much more complicated,
[12:02] {Threei}  while printing in USA is a single entity decision (and even that becomes more difficult lately because of resistance of the masses),
[12:02] {cipher} sxci spike
[12:02] {Threei}  in Europe, it's backing of sovereign guarantors that is necessary for EU-wide printing
[12:02] {Threei}  and that became huge problem
[12:03] {dino} hmmmmmm, good points
[12:03] {Threei}  so no, if I had to answer this question with inromation I have today, I don't see normal "inflate our way out of this mess" as easy path forward
[12:05] {Threei}  not that they don't dream of it or won't try... :)
[12:06] {Threei}  I just don't see how they can do it given whole climate
[12:07] {dino} too many cooks, so to speak
[12:08] {Threei}  totally, yes
[12:08] {Threei}  and they each see different diashes as a result, with different ingredients
[12:09] {Threei}  and cook for different clients
[12:09] {Threei}  btw, remember, a week or so ago I opined that, however strange it looks, but US is likely come on top as a result of this whole mess
[12:10] {Threei}  look at this:
[12:10] {Threei}  http://goo.gl/MBOi5
[12:12] {ese} cya hopefully tomorrow........still having tech issues here
[12:12] {Threei}  take care ese
[12:12] {Threei}  tell your borker ee don't like like him
[12:12] {Threei}  ee = we
[12:33] {dino} hopefuuly they are right in that article 3i. that shale gas is all around me
[12:33] {Threei}  I feel it's only the beginning
[12:34] {Threei}  there is a lot going for US, even though it's not obvious yet
[12:34] {dino} throw out obama and more positive would come
[12:35] {Threei}  he is just a symptom...
[12:35] {Threei}  whole "let's help all who wasn't fortunate enough to make decent money" must go
[12:36] {dino} yes
[12:36] {Threei}  help must be limited to those who can't make it for objective reasons
[12:36] {Threei}  health, age
[12:37] {Threei}  the rest is just plain wrong as it kills motivation
[12:42] {dino} 11895 gap filled
[12:42] {Threei}  rodl
[12:42] {Threei}  rofl
[12:42] {Threei}  "The only thing we have to fear, is Italy itself."
[12:43] {dino} 1234 as well
[12:44] {Threei}  (EU) German Chancellor Merkel is said to have told members of parliament that EFSF will be leveraged up to over 1T, haircuts on Greek debt to be 50-60% - financial press
[12:44] {Threei}  - Recapitalization program said to be around 100B; with Germany banks estimated to need 5.5B
[12:44] {swill} I like that one Vad. lol
[12:44] {Threei}  yeah, that was funny :)
[12:45] {Threei}  OK, I am dying of laughter here
[12:45] {Threei}  read the last line
[12:45] {Threei}  and join me:
[12:45] {Threei}  (IT) Italy PM Berlusconi: There is no reason to fear the solidity of Italy's finances; has a firm position on the crisis for the next EU summit
[12:45] {Threei}  - Banking problem is primarily a French and Germany issue.
[12:45] {Threei}  get this?? Italy says banking problem is a French and Germany issue
[12:46] {swill} lol
[12:48] {Threei}  the push for less sovereignity continues:
[12:48] {Threei}  (EU) ECB's Trichet: Case for a European finance ministry is growing; authorities should be given more policy role if a member state continues to underperform its targets
[12:48] {Threei}  - Notes that provided aid to states under stress is justified; EMU states should review each other's budgets
[13:28] {Threei}  ugh
[13:28] {Threei}  missed IBM .60 break
[14:38] {swill} oh well 4 of 5 is good
[14:38] {Threei}  4 of 4
[14:38] {Threei}  5th never took place :)
[14:39] {swill} lol
[14:53] {swill} sorry, bad memory
[14:54] {dino}  leaving lots of gaps below
[14:57] {Threei}  no worry, on Wed they anounce Europe is no more and one gap will cover all those
[14:58] {dino} thats what i am wondering
[15:03] {dino} we are up 17% since 10/04 low
[15:05] {Threei}  lol, they'll kill me today with these jokster headlines
[15:05] {Threei}  (IT) Italy Cabinet session ends without any decisions being taken - world press
[15:05] {Threei}  sure - why would they need toi decide anything if banking problems are Germany and France issue?
[15:16] {Threei} Short Setup: RIMM  .35 break
[15:16] {Threei}  stop .41
[15:16] {Threei}  ridiculously tight
[15:17] {dino} in
[15:20] {Threei}  ok RIMM... time to roll over and die
[15:27] {Threei}  that's right, good boy
[15:38] {dino} stop
[15:38] {Threei}  oh well
[15:38] {Threei}  now it's 4 out of 5
[15:38] {Threei}  formally it reaxched 1:1 but it was ridiculous to play for 5 cents
[15:39] {dino} wanted a dime
[15:39] {Threei}  me too
[15:48] {Threei}  slow climb day... miracle that we made any money at all, lol
[15:49] {Threei}  OK guys, thank you all
[15:49] {Threei}  have a great evening, see you tmorrow
[15:49] {swill} thank you

[15:52] {dino} thx all, gn
[15:56] {patience} ty vad, good day for me, back to my daily, one trade on gdx
[15:56] {Threei}  :)
[15:58] {larisa} bye :)

Nemo's findings for the week of 10/23 IWM and SPY

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Here are the levels for next week:

And here are the links:

http://www.freestockcharts.com?emailChartID=10e5b2fc-cd0b-47ea-a795-b9f9bc3061d8

http://www.freestockcharts.com?emailChartID=71ef422c-d357-4f15-bd9e-e399e368fd0e

Market Week Wrap-up

Trade The News Weekly market update: Market Week Wrap-up

- Volumes in US equity markets remained low this week as major indices reacted to a mixed batch of corporate earnings and a ceaseless stream of headlines about how the Europeans plan to structure their big financial backstop. France and Germany have struggled behind the scenes over the most appropriate way of levering up the pot of authorized funding for the EFSF, how to restructure Greece's debt, how to recapitalize the banks, and how to firewall Europe, and especially Italy, against the crisis. Few concrete final details have emerged, although it appears that despite the terrible state of Greece's austerity plans, there is no question that Athens will get its next tranche of aid in November. The big US banks reported dismal earnings for the third quarter, and Goldman Sachs actually took a loss. There were other high-profile misses, including Apple, but overall the tone out of corporate America has been relatively positive. On the data front, China's Q3 GDP data declined on a sequential basis for the third consecutive quarter, registering its lowest reading in two years, although the very gradual declines suggest that the Chinese government is so far managing an economic soft landing. In Europe, the German October ZEW index of economic sentiment fell for the eighth consecutive month. However some improved data in the US provided reasons to doubt the inevitability of a return to recession. The October Philly Fed survey registered its first positive reading since May, with a return to positive new orders as well. Data on the US housing market were also surprisingly positive. The October NAHB Housing Market Index hit its highest level since May 2010, thanks to modest improvements in buyer interest in select markets. More importantly, September housing starts increased at their highest annualized rate in eighteen months thanks to a 51.3% y/y increase in construction of multi-family units. For the week the DJIA gained 1.3%, while the S&P500 and Nasdaq each rose 1.1%. Chartists noted that on Friday that the S&P 500 had its best close in over two months, just 20 points shy of break even for the year.

- On Tuesday Goldman Sachs reported its second quarterly loss since going public back in the 1990s, citing troubles in its investment portfolio and declines in trading revenue. Investment banking revenues were down sharply on both a q/q and y/y basis, and there was a big net negative revenue figure in its investing and lending segment. Like JPMorgan last week, debit valuation adjustments (DVA) were a major factor in earnings out of Citigroup, Morgan Stanley, and Bank of America this week. Morgan Stanley reported headline earnings of $1.15/share, but after backing out the DVA gain, it only earned $0.02/share. With its shares down 50% YTD due to fears about the bank's exposure to peripheral European debt, Morgan Stanley reiterated that its net funded exposure was approximately $2B, or $5.7B before hedges. Bank of America's headline profit amounted to $0.56/share, but big asset sales and a DVA helped it cover up some fairly substantial losses, including a $2.2B pretax loss on private-equity assets and around $1.9B in charges related to mortgage litigation, disposing of the international cards business and other items. Net interest income fell to $10.7B from $12.7B a year earlier. Citigroup's earnings were only slightly higher than expected, after subtracting a $0.39 gain from the bank's debt value adjustment. Top-line revenue was in line, although the investment banking business saw revenue decline 12% y/y, hurt by declining underwriting and merger advisory fees.

- In other earnings, DJIA components AT&T, Coca Cola, GE, IBM, Johnson & Johnson, McDonalds, and Verizon all reported quarterly results that met or slightly exceeded expectations. GE saw solid double-digit profit growth, although investors were concerned that margins fell on a y/y basis, driven by a calm patch in the wind business. Coca Cola saw decent growth in volumes, although it warned that cost of goods sold was up 67% in the quarter, thanks to higher commodity costs. Shares of American Express fell despite the firm's good profit growth and excellent credit metrics, as expenses grew faster than revenue. J&J's decline in domestic sales was more than made up for by double-digit y/y growth overseas. AT&T did not impress investors with its soft postpaid subscriber additions and iPhone activations. Apple's shocking miss weighed down the tech-heavy NASDAQ index on Wednesday, with the miss attributed to potential new customers holding off on buying an iPhone in anticipation of the new model launch in October. Note that Apple's own forecast for Q1 lacked its typical conservatism, as executives reiterated their high hopes for the iPhone 4S. Microsoft reported decent results, although analysts were concerned that its Windows 7 franchise made very minor gains after three quarters of declining sales, in line with limp PC sales.

- Trading in US bond markets was fairly subdued this week as much of the focus remained on Europe. Early on hopes remained high and government borrowing costs in Europe continued to come down. Signs that European corporate bond markets were beginning to thaw further aided sentiment. But European sovereign spreads widened out as the week wore on and it became clear there would not be an overriding solution agreed upon by this weekend. The Italian 10-year touched 6% again and even French 10-year debt saw its yield blow out relative to the Bund. On Friday traders pushed money back towards riskier assets which sent Bund and Treasury yields higher. The US 10-year yield finished the week at 2.2% while the Bund closed at 2.10%.

- Finding themselves still far apart on a master plan for solving the euro zone crisis, European officials began the week with attempts to temper expectations for the summit scheduled for October 23rd, warning that hopes they would deliver a final solution to the crisis were overblown. By midweek the intensive talks between Germany and France over the best use the expanded EFSF were still at an impasse. To give themselves more breathing room, officials scheduled a second summit meeting for Wednesday, October 26th and said the Sunday summit would be used for further talks. Conflict over the best route to leverage the backstop breaks down as follows: France would like the EFSF to be given a banking license while Germany would like it to become an insurer that would back government bonds. There are problems with each approach, especially given that the ECB strenuously apposes giving the fund a banking license. In addition to the EFSF, conflict rages over how great a haircut private holders of Greek debt should ultimately take, with some saying participation in taking haircuts should be made mandatory (current proposals call for them to be voluntary). But ultimately, it's worth keeping in mind that the battle over the EFSF comes down to one fundamental question: is there enough money in Europe to prevent a run on the €1.9T Italian bond market?

- The threat of contagion was renewed by a Moody's report warning it might put France's ratings on negative watch in the next three months if the cost of bailing out banks or other euro zone members adversely impacts its budget. The spread between 10-year French and German government debt hit an all-time euro-era high of 120 bps this week, reflecting nervousness about France's ratings. This in turn pushed out spreads on EFSF debt, further exacerbating the situation and driving France to negotiate harder for an EFSF structure that is suited to protecting its ratings. EUR/USD has peaked above the 1.3900 level coming into the week, however the pair bounced around between this level and 1.3650 on conflicting headlines about the state of the European negotiations. By the end of the week the greenback was under pressure again on an uptick in overall risk appetite.

- USD/JPY remained basically locked within its 200 pip range for the 55th consecutive session but dealers noted the current environment was ripe for a stop hunt as they eye some massive dollar sell stops building below the 76 and 75 levels. The pair hit fresh life-time lows below the 75.95 level after markets were disappointed by Japan's formal plan to spend ¥2T on steps to ease the impact of the strong yen. With USD/JPY at its lower end of the recent range, the price action could bring the BoJ back into focus, and nerves will be on edge as intervention becomes more of a possibility.

- China released the balance of its monthly economic data that was largely in the same vein as its somewhat disappointing GDP figures. Q3 growth slowed to a 2-year low 9.1%, below 9.3% forecasted, while industrial production rose 13.8% y/y to break a string of two consecutive monthly declines. Debate over a "hard" versus "soft" landing scenarios in China attracted renewed focus in the commodity markets this week, as copper fell sharply mid-week before a modest recovery on Friday. A number of press outlets also saw a heightened concern over a brewing Chinese credit bubble, and a couple of analysts also noted an inflation discrepancy as measured by monthly CPI and quarterly deflator GDP figures indicating a lower probability of PBoC easing.

- In Australia, the RBA released its policy meeting minutes reiterating that inflation pressures appear to be more subdued over the medium term, deferring to the next set of quarterly inflation metrics for setting policy bias. Australia PPI and CPI will be announced on Sunday and Tuesday evening respectively, with estimates suggesting an easing in early November would be justified. New Zealand, on tap for a central bank rate decision on Wednesday, is widely expected to leave rates unchanged for the fifth time, even though RBNZ governor Bollard reiterated this week that it is not appropriate to keep easy monetary policy at a time of earthquake rebuild.


Trade The News

Oct 21 2001

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6 calls. 6 wins. Very nice way to end a very nice week - nothing like 100% result to go to the weekend with. Got nice catch of the Day too, textbook short setup:

[07:56] {cipher} good morning
[08:38] {Threei}  morning
[08:39] {cipher} gm
[08:46] {Threei}  european mess becomes worse by day
[09:19] {Threei}  the depth of denial in the market is hard to comprehend
[09:26] {RonS} gm...anyone here?
[09:26] {Threei}  aside of obvious FCX short idea, no other clear opening plays
[09:26] {Threei}  morning Ron
[09:26] {Threei}  half lot .90 break... with all reservations normal for opening
[09:27] {Threei}  let's be careful
[09:28] {Threei}  big gap up, not our environment
[09:30] {dino} gm
[09:30] {Threei}  dino
[09:31] {Threei} Short Setup: FCX  .80 break
[09:31] {Threei}  half lot
[09:31] {Threei}  stop .95
[09:32] {Threei}  stop to .91
[09:32] {Threei}  1:1
[09:36] {Threei} Short Setup: SLW  .90 break
[09:36] {Threei}  invalidated
[09:36] {Threei}  on radar for another trigger
[09:37] {Threei}  FCX 1:2, out
[09:37] {Threei} Short Setup: SLW  .95 break
[09:38] {Threei}  if stays under .05
[09:39] {Threei}  target .65
[09:39] {Threei}  3 partials
[09:41] {Threei} Short Setup: FCX  .85 break
[09:41] {Threei}  aww, late
[09:41] {Threei}  OK, same setup
[09:41] {Threei}  stop .95
[09:42] {Threei}  let's move it to .91 now
[09:42] {Threei}  want to keep risk minimal
[09:43] {Threei}  1:1
[09:44] {Threei}  ok SLW, your turn
[09:44] {Threei}  die
[09:45] {Threei}  stop to 30.01
[09:51] {Threei}  uncharacteristical stall
[09:51] {Threei}  in both FCX and SLW
[09:53] {Threei} Long Setup:  RIMM  .60 break
[09:55] {Threei}  stop to .54
[09:56] {Threei}  1:1
[09:57] {Threei}  SLW, are you kidding me?
[09:58] {Threei}  do something
[09:58] {Threei}  while we are young
[09:58] {Threei}  well... a bit late for that... but still                                                    [09:59] {Threei}  whewww... 1:1
[09:59] {Threei}  can't believe how long it took
[09:59] {Threei}  1:2
[10:00] {dino} meli
[10:00] {Threei}  4:4
[10:01] {Threei}  you can breathe now
[10:01] {Threei}  and on related note... can I go home?
[10:04] {Threei}  target hit
[10:04] {Threei}  anyone's alive at all?
[10:05] {cipher} yes alive and kicking
[10:05] {Threei}  ok, one
[10:05] {Threei}  the rest are ghosts I assume
[10:06] {thomd} Boo
[10:06] {Threei}  2
[10:06] {Threei}  lol, haloween spirit?
[10:07] {thomd} Yes
[10:07] {swill} alive here too
[10:07] {Threei}  3
[10:07] {swill} ty
[10:07] {Threei}  yw
[10:08] {Threei}  I say let's apply day management in spirit of yesterday's article to the rest of the day
[10:08] {Threei}  assuring that we go to the weekend green
[10:08] {Threei}  or black
[10:08] {Threei}  but not red
[10:09] {thomcbell} Vad - is yest article still available?
[10:09] {thomcbell} on line?
[10:09] {Threei}  it's in the blog, it will be available for as long as Internet exists
[10:09] {Threei}  http://blog.realitytrader.com/2011/10/profit-how-do-you-handle-it.html
[10:09] {Threei}  whole blog:
[10:09] {Threei}  http://blog.realitytrader.com/
[10:10] {Threei}  and I will update the summary today or over weekend foir easier navigation
[10:11] {swill} btw. had issue with laser. would not short
[10:11] {dino} meli sm s .99
[10:11] {Threei}  what was the report?
[10:12] {Threei}  activity log should give you a line
[10:12] {swill} it said no trades.
[10:12] {Threei}  ?
[10:12] {Threei}  that was the message in activity log?
[10:12] {Threei}  not a blotter
[10:12] {swill} ill check
[10:13] {Threei}  if you don't have this window, click View-Activity Log
[10:14] {dino} cov meli .35, +.64
[10:14] {Threei}  wtg
[10:14] {dino} ty
[10:17] {cipher} l meli .20
[10:17] {Threei}  (GE) German budget committee confirms it has given a limited mandate to Chancellor Merkel for negotiations on EFSF this weekend - press
[10:17] {Threei}  - Confirms an earlier report to the same effect that cited committee sources.
[10:18] {Threei}  this is what pushed market higher just now
[10:18] {Threei}  need any more proof that this market is bailout addict?
[10:18] {Threei}  upticks on any mention of any possibility of new bailout,
[10:18] {Threei}  never mind that it won't solve anything
[10:21] {cipher} stopped -.19
[10:23] {Threei} Long Setup:  SLW  30 break
[10:26] {Threei}  invalidated
[10:28] {cipher} L NELI .55
[10:38] {Threei}  (GR) Troika official comments on debt stability report: Situation in Greece has taken a turn for the worse; Greece debt level will remain high through 2030
[10:38] {Threei}  - Debt sustainability needs ambitious private sector involvement (PSI).
[10:39] {Threei}  yeah, private sector is very ambitious about pouring money into that black hole
[10:47] {Threei}  Spiegel:
[10:47] {Threei}  The Greek crisis has revealed why the euro is the world's most dangerous currency. The euro was built on a foundation of debt and trickery, where economic principles were sacrificed to romantic political visions. The history of the common currency is the story of a good idea that turned into a tragedy of epic proportions.
[10:47] {Threei}  http://www.spiegel.de/international/europe/0,1518,790138,00.html
[10:55] {RonS} har sm s .75
[10:57] {cipher} meli l .85
[10:57] {dino} w/ya ron
[11:12] {Threei}  An increasing number of Republican presidential candidates are now talking about returning the U.S. monetary system to the gold standard, but voters send mixed signals about such a move.
[11:12] {Threei}  seriously?
[11:14] {RonS} heh, guess we shoulda been short sohu
[11:15] {dino} cov har .43, +.32
[11:15] {RonS} gj
[11:16] {dino} ty ron
[11:16] {dino} better entry around .98 imo tho
[11:16] {RonS} could not tell where it would go...was willing to add up...
[11:18] {dino} that high .90s seems to be wall
[11:19] {RonS} mibbet giving gunnar ad since i went to website yesterday...this ad stuff is spooky
[11:19] {Threei}  analyzing your context... I hate it
[11:19] {Threei}  Google started it
[11:20] {Threei}  speaking of hunnar, I'd need a crystaline one, but I don't see them selling anywhere
[11:20] {Threei}  gunnar
[11:24] {RonS} see it here? :  http://tinyurl.com/69sxpwb
[11:24] {dino} you know ron, i typed the .90s and missed my entry
[11:25] {Threei}  all tinted ron
[11:25] {dino} sohu sm l .00 stop .84
[11:26] {Threei}  won't work for photoediting, intriduces color cast
[11:27] {RonS} ah, thought you were talking about the frame...for trading viewing relief you need the tint...they have a product for what you are talking about...will try to find it
[11:27] {Threei}  they mention it on a website
[11:28] {Threei}  and it doesn't appear in search as actually selling product anywhere
[11:29] {dino} har sm s .93 bstop .11
[11:29] {Threei}  (US) Senate Democrats are said to be planning to propose a $57B infrastructure bill, paid for by a 0.7% surtax on millionaires - financial press
[11:29] {RonS} http://www.gunnars.com/shop/Specialty/
[11:30] {RonS} here ya go
[11:30] {dino} sohu stop
[11:30] {dino} vrus blood
[11:31] {RonS} VRUS - hear sell off attributed to oral hep C drug data presented at today's $ABT meeting.
[11:32] {dino} sm l .89
[11:33] {RonS} 70.89?
[11:33] {dino} out .22, +.33
[11:33] {Threei}  sheesh... with shipping to Canada, I have to question whether simple reading glasses would suffice {G}
[11:33] {dino} wicked
[11:34] {dino} too soon
[11:35] {RonS} heard that this is a small, young company and zeiss is still figuring how to represent it and ramp it up
[11:36] {RonS} ...the main business play is w/ the 3D glasses
[11:37] {dino} sohu rinsed re-load .98
[11:37] {Threei}  my concern is, there is no magnification... so still might need reading glasses
[11:37] {RonS} is there best buy up there?
[11:38] {Threei}  yes
[11:38] {Threei}  they don't carry this product here in Canada
[11:39] {dino} just buy a pair of cheaters at the dollar store
[11:40] {Threei}  cheaters?
[11:40] {Threei}  slang for?
[11:40] {dino} reading glasses
[11:40] {Threei}  well, I have those :)
[11:40] {dino} cost a dollar
[11:41] {Threei}  these ones are just proclaimed to provide some specific to computer display benefits...
[11:41] {Threei}  whcih I guess is to be proven yet
[11:41] {Threei}  some reviewers say there is a benefit, other question that
[11:42] {RonS} well, nemo says they helped him...
[11:43] {dino} then thats that
[11:55] {dino} har stuck bstop to .03
[11:55] {dino} out sohu .48, +.50
[11:56] {Threei}  OK, I guess this puts me off:
[11:56] {Threei}  We recommend using the amber tinted GUNNARS for all computer usage and gaming. The Crystalline lens will not offer the visual performance and protection against visual stress and the harsh blue light from digital screens
[11:56] {Threei}  We developed crystalline exclusively if your job requires you to work on true color.
[11:56] {Threei}  If you are graphic designer curious about both, we recommend you get both pairs and decide which works for you better.
[11:56] {Threei}  uhhu
[12:06] {Threei}  http://www.stratfor.com/analysis/20111019-special-series-assessing-damage-european-banking-crisis?utm_source=freelist-f&utm_medium=email&utm_campaign=20111021&utm_term=freecontent&utm_content=readmore&elq=ccb400c6fb3e4adda9782e3f88d05694
[12:09] {dino} stop har -.10
[12:20] {RonS} Obama at 12:45 p.m. EDT will announce complete drawdown of US troops from Iraq to zero by end of 2011
[12:20] {Threei}  thank goodness, one war is over'
[12:25] {dino} sina sm l ave .03
[12:33] {cipher} vrus l 71.01
[12:34] {dino} lol, typed wrong symbol, it is sohu not sina
[12:35] {cipher} out -.01
[12:36] {dino} watching that too cupher
[12:37] {dino} out sohu .35, +.332
[12:37] {dino} .32
[12:40] {dino} wynn gap fill
[12:40] {dino} smr l .20
[12:40] {Threei} Short Setup: RIMM  .70 break
[12:41] {cipher} l vrus.87
[12:41] {dino} out wynn .65, +.45
[12:41] {dino} pulp
[12:49] {Threei}  stop for superduperextrascalpers .76; for sane traders .81
[12:57] {Threei}  at this point, even sane ones trail to .76
[12:57] {Threei}  I mean, sanity is not an obstacle to insanely tight risk control, right?
[13:01] {Threei}  those superduper etc got over 1:1 btw
[13:02] {Threei}  while we sane opnes are still waiting our turn
[13:02] {Threei}  OK, 1:1 for us
[13:02] {Threei}  5 for 5
[13:03] {Threei}  and still, no one is talking to me.... what should I do to get any word out of you, dance? sing?
[13:03] {Threei}  whatever, I will be watching Obama on TV
[13:11] {dino} obama tv, all obama, all the time
[13:11] {Threei}  well, sometimes it's cain and 999
[13:13] {dino} wynn smr l .00
[13:14] {dino} out wynn .45, +.45
[13:14] {Threei}  wtg
[13:15] {dino} ty
[13:18] {dino} vrus sept gap fill
[13:33] {dino} wynn smr l .00
[13:35] {dino} out .40, +.40
[13:36] {Threei}  http://tinyurl.com/68bd7v3
[13:37] {Threei}  (EU) France said to continue pressure on Bini Smaghi to step down from ECB for a France representative to take the seat - financial press
[13:37] {Threei}  lol
[13:48] {dino} tzoo sm l .76
[14:05] {Threei}  (GR) Eurogroup confirms next Greece aid tranche expected for release in November; as expected
[14:08] {Threei}  Earthquake of magnitude 7.2 strikes between Tsonga and New Zealand
[14:08] {dino} out tzoo .out tzoo .21, +.45
[14:14] {Threei}  wtg
[14:17] {dino} ty
[14:45] {dino}  magoo stopped by, gotta hop
[14:46] {Threei}  say hello
[14:46] {dino} will do
[14:46] {dino} later all
[14:46] {Threei}  take care dino
[15:20] {Threei}  I can't believe this market is not tanking into weekend
[15:20] {Threei}  are people really that deep in denial?
[15:22] {larisa} I believe you started day with the same question :)
[15:22] {Threei}  yes...
[15:23] {Threei}  this is something I can't stop wondering about :)
[15:23] {Threei}  I mean come on... Europe IS done, it's only a matter of time when they admit it
[15:24] {Threei}  you know the asset to debt ratio in Europe banking system?
[15:24] {Threei}  1:30!
[15:29] {Threei} Short Setup: FCX  .40 break half lot
[15:39] {Threei}  (EU) Austria Fin Min Fechter: Finance Ministers have narrowed available options for levering the EFSF to two options; down from 7 discussed earlier
[15:39] {Threei}  oh good
[15:39] {Threei}  5 didnb't make sense
[15:40] {Threei}  2 remainign don't eitgher but they ned to discuss something
[15:43] {Threei}  1:1
[15:46] {Threei}  close enough to 1:2
[15:46] {Threei}  out
[15:46] {Threei}  that's 6 out of 6
[15:46] {Threei}  than you all, have a good weekend
[15:46] {Threei}  see you Monday
[15:47] {larisa} bye :)

Nemo's Findings midweek update

(Participation in the room in real time requires membership)

O.K. it's a day late, don't bust my stones, it's free

Oct 20 2011

(Participation in the room in real time requires membership)

Another nicely profitable but not very active day, 3 nice wins out of 4 trades. Aside of that, make sure to read this article; discussion in the room triggered an idea to put this frequently discussed topic in writing.



Session Time: Thu Oct 20 00:00:00 2011
[08:06] {cipher} morning
[08:06] {Threei}  morning cipher... insomnia here, what's your excuse?
[08:06] {cipher} I'm an early riser
[08:07] {cipher} btw got the package yesterday, thanks!
[08:07] {Threei}  :)
[08:30] {Threei}  *(US) INITIAL JOBLESS CLAIMS: 403K V 400KE;
[08:31] {Threei}  CONTINUING CLAIMS: 3.719M V 3.69ME
[08:31] {Threei}  - Prior Initial Claims revised higher from 404K to 409K
[08:31] {Threei}  - Prior Continuing Claims higher from 3.67M to 3.69M
[09:15] {Threei}  (EU) German govt said to consider delaying the Oct 23 EU summit if necessary to give more time to negotiate - German press
[09:15] {Threei}  **REMINDER: yesterday reports said intensive talks were still ongoing, particularly between the French and German leaders with some sticking points still impeding a deal. French Pres Sarkozy flew to Frankfort yesterday afternoon for an unscheduled meeting with Merkel and other senior EU officials.
[09:17] {dino} gm all
[09:17] {Threei}  dino :)
[09:18] {dino} sheesh they've been talking since june
[09:18] {swill} :)morning
[09:18] {Threei}  well, they like talking... and each summit is a lot of wine and cheese
[09:18] {Threei}  swill :)
[09:22] {Threei}  Deutsche Bank AG Co-CEO Fitschen: to fight Tobin tax by passing on costs to customers
[09:22] {Threei}  sure thing... as if it was hard to predict
[09:24] {Threei}  this gap up looks destined to be faded
[09:25] {Threei}  and FCX begs to be a first short target
[09:27] {Threei}  with copper trading much lower, FCX should follow
[09:27] {Threei}  remember, it's a half lot play at the open
[09:27] {nemo} yeah, like transaction costs won't be passed on dumb bastards
[09:27] {Threei}  yeah
[09:28] {nemo} taxpayers don't realize they are the only taxpayers
[09:28] {Threei}  ironically enough, those same dumb ones are likely to embrace the idea of this tax
[09:28] {nemo} distribution of intelligence across the bell curve
[09:29] {Threei}  hehe
[09:29] {nemo} the common "herd" of man
[09:29] {nemo} tempted to take tna long here
[09:30] {nemo} shulda
[09:31] {Threei} Short Setup: FCX  .40 break
[09:31] {Threei}  if stays under .55
[09:32] {Threei}  nope
[09:33] {Threei} Short Setup: SLW  .20 break
[09:34] {Threei}  if stays under .30
[09:35] {Threei}  invalidated
[09:35] {Threei}  FCX is getting ahead of itself
[09:36] {Threei}  no clear signal for reversal
[09:38] {Threei} Long Setup:  FCX  .40 break half lot
[09:38] {RonS} gm...philly fed report top of hour
[09:38] {Threei}  .25 stop
[09:38] {Threei}  .30 for scalpers
[09:39] {Threei}  but worth a shot for more
[09:39] {Threei}  IMO
[09:39] {nemo} GMCR continuing to get killed
[09:39] {Threei}  scalpers 1:1
[09:39] {Threei}  day traders 1:1
[09:39] {Threei}  stop to .35 for balance
[09:39] {Threei}  1:2, out
[09:40] {Threei}  nice and easy
[09:50] {Threei} Short Setup: FCX  35 break
[09:51] {Threei}  stop above .10 and .15
[09:51] {Threei}  target about 34.60
[09:51] {Threei}  maybe more
[09:51] {Threei}  scalpers 1:1
[09:51] {Threei}  day traders 1:1
[09:53] {Threei}  1:2
[09:53] {cipher} awesome thx!
[09:53] {Threei}  :)
[09:54] {cipher} looks strong and yed drops like a rock
[09:54] {nemo} fcx bounced at vwap
[09:54] {Threei}  .65 you mean?
[09:54] {Threei}  .68
[09:58] {Threei} Short Setup: FCX  .90 break
[09:58] {nemo} numbers in 2
[09:58] {Threei}  stop is obvious, above 35
[09:59] {Threei}  ty, forgot about those
[09:59] {Threei}  with half lot, willing to let it happen either way
[10:00] {Threei}  okay
[10:00] {Threei}  mixed bag
[10:00] {Threei}  good Phil fed
[10:00] {Threei}  bad confidence
[10:01] {Threei}  flar leading
[10:01] {Threei}  flat
[10:01] {Threei}  nut the scale is mind boggling, look:
[10:01] {Threei}  *(US) OCT PHILADELPHIA FED: +8.7 V -9.6E
[10:01] {Threei}  how on earth can estimate be that far off??
[10:02] {cipher} shorted the spike on FCX
[10:02] {Threei}  that's gutsy
[10:02] {cipher} covered at .10 +27
[10:02] {cipher} half lot
[10:03] {cipher} felt like euforia to me
[10:03] {Threei}  nice... but be careful with this kind of trades, they offer huge potential, and the trade-off is... :)
[10:03] {nemo} BOHICA!!!
[10:04] {cipher} ok
[10:04] {cipher} i'll behave
[10:04] {Threei}  lol
[10:04] {cipher} already up on the day
[10:05] {cipher} was testing order entry pre market and got lucky
[10:05] {Threei}  let me offer you advice on how to manage the day from this point on
[10:05] {Threei}  determine the minimum profit you go home today with;
[10:06] {Threei}  measure your position sizes and stops in a way that you never go under that;
[10:06] {Threei}  if you hit that level, stop trading for the day, switch to paper
[10:06] {Threei}  if you make more, trail your profit limit up by half of new profit
[10:06] {cipher} thx, excellent advice 3i
[10:06] {Threei}  kind of trailing stop on your account
[10:07] {cipher} I need to learn all these tricks :-)
[10:07] {Threei}  this is great way to make sure you preserve profits, give them chance to increase and never find yourelf in that extremely frustrating situation:
[10:07] {thomcbell} pretty decent pivot fail there on spy
[10:08] {nemo} 120.90 is WPP
[10:08] {Threei}  I made such nice money in the morning, then overextended myself, lost it all, tried to get it back and eneded in red
[10:08] {thomcbell} 121.67
[10:08] {thomcbell} 121.67 is pivot based on yest range
[10:09] {Threei}  in facvt, this topic surfaces often enough to write a blog post on it
[10:09] {cipher} yes I know what you mean - it's called human psychology
[10:09] {nemo} I have .43
[10:09] {Threei}  so I could just give a link instead of typing it
[10:09] {Threei}  {--- conforming to my own laziness
[10:09] {cipher} i'll take it if u have it handy
[10:16] {nemo} short covering in GMCR
[10:20] {Threei} Short Setup: SLW  .30 break
[10:21] {Threei}  stop has two versions again, .40 and .45
[10:21] {Threei}  let's trail to it .41 for everyone now
[10:22] {Threei}  tested .40 and retreated, good reason to cut down risk
[10:22] {Threei}  come on... just couple cents to 1:1?
[10:23] {Threei}  OK
[10:23] {Threei}  1:1
[10:24] {Threei}  1:2, out
[10:24] {Threei}  that's 3 out of 4
[10:24] {Threei}  me happy
[10:26] {Threei}  anyone shares that feeling?
[10:26] {Threei}  or I can go home?
[10:27] {cipher} excellent calls 3i
[10:27] {Threei}  ty
[10:28] {Threei}  I have my moments, although they become further apart {G}
[10:28] {cipher} i bought SLW by mistake when trying to cover
[10:29] {cipher} +.18 extra bonus
[10:29] {Threei}  well... that worked too, lol
[10:29] {Threei}  some days are likel that
[10:31] {thomcbell} dont count on it
[10:36] {Threei}  lol
[10:36] {Threei}  (GR) IMF Spokesperson: There are no divergences between IMF, the EU and the ECB over the sustainability of Greece's debt
[10:36] {Threei}  meaning, all three agree it's unsustaiable?
[10:37] {RonS} w/ your indulgence 3i... everyone over the age of 18 should listen to it:
[10:39] {RonS} try again...http://tinyurl.com/3cfp4b9
[10:43] {RonS} penn blood
[10:44] {nemo} grinding upward trend on dia and spy
[10:45] {RonS} Penn Gaming getting pasted during the ccal - Todd Jordan strikes again
[10:46] {Threei}  I agree ron
[10:46] {Threei}  good exchange
[10:46] {Threei}  who posted this?
[10:47] {RonS} wish i had the power to make this go viral...
[10:47] {dino} wynn's good, he gets it
[10:47] {Threei}  I think it was posted on twitter
[10:48] {Threei}  I didn't watch it then, but remember the reference to Wynn
[10:48] {nemo} yes
[10:49] {RonS} this is the only verbal post i have seen...the other reports have been written and not as impactful
[10:50] {RonS} penn v sm l .86
[10:53] {Threei}  British Columbia has huge practice for the big earthquake citizen response today... Isay they are playing with fire by teaasing gods :)
[10:54] {RonS} out penn 36.90 +1.04
[10:56] {Threei}  wtg
[10:56] {RonS} ty
[10:57] {Threei}  thomd... missed beautiful morning :(
[10:57] {dino} gj ron
[10:59] {swill} beautiful. ty
[11:00] {RonS} careful swill...i am not dino....
[11:00] {swill} right
[11:01] {RonS} just a dino wannabe...
[11:01] {RonS} :)
[11:02] {Threei}  we all are something wannabees
[11:02] {Threei}  larisa for instance is dolphin wannabe
[11:02] {dino} nvda?
[11:03] {Threei}  don't see anything ffresh on it
[11:03] {RonS} leaders looking weak...goog amzn, etc right now
[11:03] {dino} 2294 filled
[11:04] {dino} next down 11103, 2202, 1155
[11:05] {RonS} euro down a penny since open...italian yields marching higher
[11:06] {RonS} .vix hod
[11:08] {dino} nvda sm l .95
[11:10] {cipher} PENN S SM .90
[11:12] {cipher} coverd 36.01 +.89
[11:12] {RonS} wow...gj
[11:12] {cipher} wow
[11:12] {cipher} beginners luck
[11:13] {Threei}  well, you deal in extremely volatile stock with huge spread
[11:13] {Threei}  only natural that it produces huge mives
[11:13] {Threei}  good setup
[11:13] {dino} gj
[11:13] {Threei}  trail that stop on your account
[11:14] {RonS} anyone heard of/use gunnar computer eyeglasses?
[11:15] {nemo} I use them
[11:15] {RonS} like 'em?...my eye dr suggested them....oakley guys who broke off and just sold biz to carl zeiss...
[11:16] {nemo} yes
[11:16] {RonS} thanks
[11:16] {nemo} Got mine off ebay for $35
[11:17] {RonS} ...in the bunny frame?
[11:17] {dino} lol
[11:18] {Threei}  they have magnification?
[11:18] {RonS} slight
[11:18] {RonS} yellow tinted to reduce glate etc...www.gunnars.com
[11:18] {RonS} glare
[11:20] {dino} apkt sm l .50, stop lod
[11:21] {Threei}  I'd have to go with crystaline version
[11:21] {cipher} l penn sm .50
[11:22] {cipher} out 36 +.50
[11:23] {Threei}  ok cipher stop this... you gotta leave some m oney in the market for other players
[11:23] {cipher} sorry
[11:23] {Threei}  otherwise none will come out to play with you tomorrow
[11:23] {dino} you keep going cipher
[11:26] {dino} nxpi sm l .89
[11:26] {cipher} ok record day today, quitting while ahead
[11:26] {cipher} thanks all c u tomorrow
[11:28] {dino} wtg
[11:28] {Threei}  wtg
[11:33] {RonS} sm l plcm .90
[11:39] {RonS} out plcm .18  +.28
[11:39] {Threei}  nice
[11:39] {Threei}  why are we looking at Lybian streets at every TV channel in existence?
[11:40] {RonS} ...bacause the greeks are boring?
[11:40] {RonS} because
[11:40] {Threei}  oh
[11:40] {RonS} ...everyone like camels?
[11:40] {RonS} likes
[11:41] {Threei}  hmmm... count me out
[11:48] {nemo} dcc ron
[11:53] {dino}  out nvda .27, +.32
[11:54] {RonS} gj
[11:54] {dino} thx
[11:57] {Threei}  rapid negative growth is coming
[11:58] {RonS} good to know, george...
[11:59] {nemo} constanza?
[12:00] {Threei}  :)
[12:03] {RonS} ...as in orwell...
[12:04] {dino} out apkt .80, +.30
[12:07] {RonS} lol...seal of approval, eh?:  Venezuela's Chavez says cancer tests in Cuba showed no malignant cells left in his body
[12:08] {Threei}  http://blog.realitytrader.com/2011/10/profit-how-do-you-handle-it.html
[12:09] {Threei}  seal of approval before I tweet it?
[12:09] {RonS} ...classic...wtf...why the failure?
[12:09] {Threei}  :)
[12:13] {RonS} ...best writeup on this topic you have done so far...am thinking your incentive of bigger audience is making you a better writer...congrats
[12:14] {Threei}  thank you
[12:14] {dino} hbio
[12:14] {Threei}  tweeting
[12:15] {Threei}  who can help make it viral, please do
[12:19] {Threei}  if need a post for retweet, it's at https://twitter.com/#!/RealityTrader/status/127055135728865280
[12:19] {RonS} HBIO up 9% on buyout rumors
[12:21] {Threei}  (EU) European officials are said to be considering a second summit meeting next week to discuss technical details of leveraging EFSF and private sector haircuts on Greek debt - financial press
[12:21] {Threei}  **REMINDER: reports today confirmed the EU summit will go ahead as planned on Oct 23, shooting down a report in the German press that said it might be delayed due to a lack of agreement on implementation issues. German Chancellor Merkel canceled a parliamentary speech on Friday because of the lack of EFSF details. The G20 has demanded that Europe have a final plan for rescuing the euro zone ready by the Cannes G20 leadership summit on Nov 3-4.
[12:21] {Threei}  (GR) A Greece ruling party member intends to vote against the labor portion of the austerity program
[12:21] {Threei}  one?
[12:22] {Threei}  unless their vote balance is that tight, how does it make news?
[12:23] {Threei}  (GR) Greece PM Papandreou: July 21 agreement proposals have proven to be insufficient; negotiations ongoing with regards to the decisions taken at the July 21 meeting
[12:23] {Threei}  - Have serious doubts about reaching decisions at the summit this weekend on Oct 23; decisions are necessary and definitive
[12:27] {dino} i wish greece would just default so we could move on
[12:27] {Threei}  amen to that
[12:31] {RonS} so, 3i, why are you not on twitter...your stocktwits posts would automatically post there as well...
[12:31] {Threei}  I am
[12:31] {Threei}  on both
[12:31] {Threei}  link I posted is from twitter
[12:32] {Threei}  @Realitytrader
[12:32] {Threei}  stocktwist link is http://stocktwits.com/RealityTrader/message/5487814
[12:33] {Threei}  try this: https://twitter.com/#!/RealityTrader
[12:33] {Threei}  works?
[12:34] {Threei}  if not, the simplest way is to go to RT homepage and use the Follow button
[12:35] {RonS} ok, gotcha now...
[12:35] {Threei}  :)
[12:40] {RonS} ...great...Obama to speak at 2 pm EDT, White House announces -
[12:41] {Threei}  13:30 German govt spokesperson makes statement
[12:44] {RonS} geez, admitting lateness already:  Update: The White House press briefing has been delayed until later today. Please disregard earlier post pointing to live video.
[12:44] {Threei}  lol
[13:16] {RonS} $RIMM chatter
[13:21] {RonS} guy is a joke...obama speaking
[13:22] {RonS} this has moved into the top five lies kFLASH: SarKozy and Merkel Agree ESFS Needs Leverage and A Decision Will Be Made No Later Than Next Wednesday nown to mankind:  
[13:23] {RonS} ...lies know to mankind...
[13:23] {RonS} known
[13:27] {Threei}  lol
[13:46] {Threei}  Business Council survey indicates CEOs feel conditions for business has been worsening; skepticism that US can reach 3% GDP over the next three years
[13:46] {Threei}  how much money did they spend for that survey? I could tell them for half of it
[13:47] {Threei}  no news that I see for this spike a min ago
[13:47] {nemo} vwap bounce
[13:47] {nemo} both spy and IWM
[13:47] {Threei}  a bit too sharp and sudden for just a technical bounce
[13:48] {Threei}  normslly you see this thanks to new headline
[13:48] {nemo} well, I hear ya, but...both were right on the vwap when it happened...just reporting
[13:48] {Threei}  right
[13:49] {nemo} btw...120.90 is the weekly pivot on spy, e've been oscillating around it this week
[13:50] {Threei}  fascinating how it happens
[13:53] {nemo} spy bottom was the 76.8 retracement of the recent range swing low, which was w/in .20 of S1 support and .10 of the Quraterly pivot point...go figure
[13:54] {nemo} .02 of S1 support
[14:06] {RonS} hey, nemo did the retweet...
[14:09] {Threei}  ty guys, much appreciated
[14:11] {Threei}  (GR) Greece PM has now expelled the dissenting ruling party member from the party after a vote against the party on portion of austerity
[14:11] {Threei}  - Voting continues, with 100 Yes votes against 94 No votes; 151 votes needed to pass.
[14:11] {Threei}  this expelled member is the future PM of Greece I assume
[14:15] {RonS} qotd:  Somewhere in Libya, there's a tombstone engraver looking at 14 different spellings of Gaddafi & crapping his pants.
[14:15] {nemo} hey folks my firm shutting down tomorrow...I'll be out of commission for at least a few weeks
[14:15] {Threei}  *(GR) GREEK PARLIAMENT SECURES ENOUGH PARLIAMENT VOTES FOR AUSTERITY BILL
[14:16] {RonS} sad to hear nemo...will look forward to your return...
[14:17] {RonS} hearing greek vote passed
[14:18] {Threei}  lol
[14:18] {Threei}  I feel deeply ignored
[14:23] {dino} nemo, will miss you, like the pivots, support, and vwap stuff
[14:23] {nemo} I'll still post it, just won't be live with it
[14:28] {dino} ok
[14:30] {dino} we missed csh ron, gap down slow all day up
[14:31] {dino} aef, aed, aeh drop
[14:40] {Threei}  oh boy
[14:40] {Threei}  Senators say Fed's Bernanke will submit proposals to Congress next week on how to help housing market
[14:42] {RonS} idiocy...exactly where has he been for he past three years?
[14:43] {Threei}  look at the market merrily hopping at that
[14:44] {dino} out nxpi .24, +.35
[14:45] {Threei}  (EU) Said to be considering up to five options for revising the Greek debt exchange - financial press
[14:45] {RonS} gj
[14:45] {Threei}  they mean 5 names for the same thing
[14:57] {RonS} sheesh, freakin woodpecker pecking my house
[15:00] {RonS} http://tinyurl.com/67wpe9z
[15:02] {Threei}  cool-looking bird
[15:03] {RonS} yeah, it usually works on my aspens...diligent worker
[15:05] {RonS} look bp
[15:19] {dino} i get one pecking my rain gutters
[15:28] {nemo} o.k.  see you guys at some point.  I'll post levels have 16 points so far this week on spy alone, there were others that keyed off of IWM....take care
[15:28] {dino} take care nemo
[15:29] {swill} Look forward to you return and postings
[15:35] {RonS} syna blood
[15:36] {RonS} amr pop
[15:42] {Threei}  listless ending
[15:43] {RonS} had a second great dya here. the concepts you put forth in that article are finally sinking in for me.  thanks.
[15:43] {RonS} day
[15:43] {Threei}  :)
[15:44] {swill} ty Vad
[15:44] {Threei}  spiking now... no news
[15:48] {Threei}  OK guys, let's have a good evening
[15:48] {Threei}  thank you all
[15:48] {Threei}  see you tomorrow
[15:55] {larisa} bye :)
[15:56] {dino} gn all, thx for ideas

Oct 19 2011

(Participation in the room in real time requires membership)

Another great day with a lot of nice winning trades ranging from 1:1 to 1:4. As soon as market gets out of that "slow creep-up" mode, we are in our element.


Session Time: Wed Oct 19 00:00:00 2011
[08:30] {Threei}  US) SEPT CONSUMER PRICE INDEX M/M: 0.3% V 0.3%E
[08:30] {Threei}  *(US) SEPT HOUSING STARTS: 658K V 590KE; BUILDING PERMITS: 594K V 610KE
[08:48] {Threei}  ok... sit around, don't sit around, at some point gotta start (as huge drunkard at Russian wedding said before hitting sitting next to him in the ear)
[08:50] {swill} gentlemen, start your engines
[08:51] {Threei}  shhhhh... for nemo it's a signal to start pouring whiskey in his throat as a fuel
[08:51] {nemo} what do you have one of those biodiesel's running on cooking fat, swill?
[08:51] {nemo} vodka
[08:51] {swill} lol
[08:53] {swill} caffeen for me
[08:53] {Threei}  well, per ese caffein works too - when taken intravenously
[08:54] {swill} have you seen the movie, limitless.  Like that
[08:54] {Threei}  no... new one?
[08:54] {swill} four weeks ago I think
[08:56] {Threei}  unless we are talking new Bond movie, I am usually running with big delay on new releases... :)
[08:57] {swill} I'll loan it to you
[08:58] {Threei}  thanks... I'll whistle when ready :)
[08:58] {Threei}  or scream
[08:58] {swill} lol
[08:59] {Threei}  http://www.facebook.com/photo.php?fbid=276100932424589&set=a.237133656321317.63196.235739863127363&type=1&theater
[09:01] {swill} seems they will have slow growth there
[09:02] {Threei}  slow growth?
[09:02] {Threei}  rofl
[09:02] {Threei}  that's one way to name a crash
[09:02] {swill} lol
[09:03] {swill} btw, what set up were you using yesterday vad?
[09:03] {Threei}  ?
[09:04] {Threei}  for what?
[09:04] {swill} did you mention a pattern in the chat room
[09:04] {Threei}  not sure what you mean... there were 5 calls
[09:05] {Threei}  each was different setup
[09:05] {swill} ok, I missunderstood.  thanks
[09:07] {ese} morning
[09:07] {Threei}  ese, we were just talking about you
[09:08] {Threei}  [08:53] {swill} caffeen for me
[09:08] {Threei}  [08:53] {Threei} well, per ese caffein works too - when taken intravenously
[09:08] {ese} oh oh
[09:09] {ese} ya .....what can i say....i like keep a hypodermic around for cafine injection in the morning
[09:09] {swill} lol
[09:16] {dino} gm all
[09:16] {Threei}  dino :)
[09:22] {ese} d
[09:26] {RonS} hello everyone...
[09:27] {Threei}  ron :)
[09:28] {_tarkus62} gm all
[09:28] {Threei}  tarkus :)
[09:28] {Threei}  targeting FCX for short
[09:28] {Threei}  half lot
[09:28] {larisa} gm :)
[09:28] {_tarkus62} k cool
[09:28] {Threei}  larisa :)
[09:29] {ese} tarkus buddy.......i shop at your stores alot.......
[09:29] {ese} opps sorry thats target.........my mistake
[09:29] {_tarkus62} lol
[09:30] {ese} welcome to the board.........
[09:30] {Threei}  SLW too
[09:30] {Threei}  FCX bounces
[09:31] {Threei} Short Setup: FCX  .40 break
[09:31] {Threei}  invalidated of course
[09:31] {nemo} hehehehehe
[09:31] {Threei}  change to .80
[09:32] {Threei}  .90
[09:32] {Threei}  if stays under 36
[09:32] {Threei}  got .87
[09:33] {Threei}  half out
[09:33] {Threei}  .67
[09:33] {Threei}  out in full
[09:33] {Threei}  .45
[09:33] {Threei}  whew
[09:34] {dino} gj
[09:34] {Threei}  missed SLW meanwhile
[09:34] {cipher} wow
[09:34] {_tarkus62} nice
[09:34] {cipher} thx 3i
[09:34] {Threei}  welcome sir
[09:34] {Threei}  awww, too soon
[09:34] {Threei}  look at this
[09:34] {thomcbell} molto bene Three
[09:34] {Threei}  :)
[09:35] {cipher} rollecoaster
[09:35] {cipher} thank god for hot keys
[09:36] {Threei}  ugh SLW
[09:36] {Threei}  this one seriously got away
[09:36] {Threei}  ok, don't get scared but
[09:36] {Threei} Short Setup: FCX  35 break
[09:36] {Threei}  half lot
[09:37] {Threei}  invalidated for now but will stay on radar
[09:37] {dino} aem sm l .65
[09:37] {Threei}  actually... maybe aggressive entry
[09:37] {Threei}  .10 break
[09:37] {Threei}  stop above .20
[09:38] {Threei}  invaidated too
[09:38] {dino} stop -.22
[09:40] {dino} rinsed
[09:40] {Threei} Short Setup: WFC  .10 break
[09:40] {Threei}  if stays under .20
[09:41] {Threei}  target 1:2, two partials
[09:41] {Threei}  1:1
[09:42] {Threei}  stop to .11 of course
[09:43] {Threei} Long Setup:  RIMM  .95
[09:43] {Threei}  if stays above .85
[09:45] {Threei}  invalidated
[09:45] {Threei}  WFC target hit
[09:48] {Threei} Long Setup:  RIMM  .80 break
[09:49] {Threei}  if stays above .70
[09:50] {Threei}  let's trail to .74
[09:50] {Threei}  looks good but it's RIMM, want to keep it on a tight leash
[09:52] {Threei}  market sharp red bar
[09:52] {Threei}  out
[09:53] {Threei} Short Setup: GS  104 break
[09:53] {Threei}  small shares
[09:53] {Threei}  stop above .20
[09:53] {Threei}  no worky
[09:54] {Threei}  crap, we missed that FCX 35 short
[09:54] {dino} aem capit
[09:55] {RonS} flood and mine closing...
[09:55] {RonS} not going near it
[09:56] {cipher} aem good one thx dino!
[09:56] {dino} gj
[09:58] {Threei} Long Setup:  LVS  45 break
[09:58] {Threei}  if stays above .90
[09:58] {Threei}  target 1:3
[09:58] {Threei}  3 partials
[09:59] {Threei}  1:1
[09:59] {Threei}  stop to .98
[09:59] {dino} cma sm l .60
[10:00] {Threei}  1:2
[10:00] {Threei}  % of deaf, blind and stupid if determined:
[10:00] {Threei}  is
[10:00] {Threei}  6% Rate U.S. Economy As Good or Excellent
[10:01] {dino} cma stop -.12
[10:01] {cipher} wow AEM
[10:02] {Threei}  done with LVS
[10:02] {cipher} stepping out... need to change my diapers :-)
[10:02] {Threei}  lol
[10:04] {Threei} Short Setup: FCX  .60 break half lot
[10:04] {Threei}  stop above .70
[10:04] {Threei}  aggressive entry for .50 break
[10:04] {Threei}  no go
[10:05] {ese} dino you out of aem
[10:07] {dino} no
[10:07] {Threei}  wow LVS
[10:07] {Threei}  ca I have mulligan?
[10:08] {dino} got out long time ago 48.43
[10:08] {dino} did not re enter yet
[10:08] {dino} cma rinsed
[10:09] {RonS} in cma .52 ave
[10:10] {RonS} target .94
[10:12] {RonS} out .94 +.42 ese size...u da man dino
[10:13] {dino} wtg
[10:15] {nemo} apkt
[10:15] {Threei} Short Setup: FCX  35 break
[10:16] {Threei}  stop above .10
[10:16] {Threei}  target 1:2, 1:3
[10:18] {ese} nice one ron!!!!!!
[10:18] {Threei}  let's scratch it here
[10:18] {Threei}  yup
[10:18] {Threei}  something didn't look right
[10:21] {ese} L STX .19
[10:24] {Threei}  wow
[10:24] {ese} i'll say......6th sense there vad
[10:26] {dino} csh l break .00
[10:27] {ese} stx 1/2 out .31 +.12
[10:27] {dino} nxpi l .65
[10:30] {Threei}  *DOE CRUDE: -4.73M V +1.5ME; GASOLINE: -3.3M V -1.5ME; DISTILLATE: -4.27M V -1.5ME; UTILIZATION: 83.1% V 83.6%E
[10:31] {ese} out stx full .46 +.27....good enough  1k/1k ron
[10:31] {dino} gj
[10:31] {ese} tks
[10:32] {ese} am eyeing aem
[10:35] {dino} out nxpi +.03
[10:35] {cipher} long or short ese?
[10:40] {ese} am thinkin long
[10:40] {ese} depends on this bounce
[10:41] {ese} classic dino in at .00 maybe
[10:42] {ese} in .01 aem
[10:42] {cipher} nice
[10:43] {ese} out 1/2 avg .21
[10:43] {ese} break even balance
[10:44] {ese} stop to .15
[10:44] {dino} gj
[10:44] {ese} .20
[10:45] {ese} daaaaaaaaaa stopped .19 +.18
[10:45] {RonS} nice management...gj
[10:46] {Threei}  very
[10:46] {Threei}  refined way to trade
[10:46] {ese} must apologise that was not classic dino........his would have been +1.50
[10:46] {dino} not today,getting rinsed alot
[10:46] {Threei}  well, that's the difference between man and dinosaur... SIZE!
[10:46] {dino} thats what she said
[10:46] {RonS} ya but there is dino size, then there is ese size
[10:47] {RonS} lol
[10:47] {ese} that went 1k/1k ......no biggie
[10:48] {ese} STX still staying strong may go in there again sm
[10:48] {RonS} ...freakin 1%'er...
[10:49] {Threei}  lol
[10:49] {ese} ya but don't forget.......these thing can go against ya faster big time
[10:50] {dino} cma l .55
[10:50] {RonS} true 'dat...'specially a mining stock w/ a closed flooded mine
[10:50] {ese} definite;ly
[10:52] {RonS} btw for canuckian education:  true 'dat is a cajun expression
[10:52] {ese} like i said before....it's just cruise control these days....am not likely to be doing 10k/15k like iwas doing3 years ago......chuck a dart at a stock.....thats the one going up
[10:53] {dino} you're a piece of work ese
[10:53] {ese} spring 08/09? hmmmmm can't remember
[10:53] {RonS} ...and fwiw cajuns are French Arcadians captured and transported to Lousiana by the Bristish in the early 18th century
[10:54] {Threei}  Ron... this is slippery slope: a few days more and you are going to start speaking Swahili with us
[10:54] {RonS} ...that's the main reason Louisiana is so weird
[10:54] {ese} I shoulda stayed there.......would have had a better chance at playing music for a living in New Orleans
[10:55] {dino} we all have shoulda's
[10:55] {RonS} for me plus woulda's and shoulda's
[10:55] {ese} dats fur shuah
[10:55] {RonS} sorry coulda's
[10:57] {ese} ya like.....I shoulda made to Mertle to golf with dino
[10:57] {ese} thats still on the hit list
[10:58] {dino} ;)
[10:58] {dino} cma stop -.09
[10:59] {ese} gotta do that before my shoulders can't turn a full 90 degrees to hit a golf ball prpperly
[11:00] {RonS} seen many codgers that does not hurt their game much
[11:00] {dino} too much tequila on this last trip, was hurting couple days
[11:01] {dino} air pocket drop
[11:01] {dino} wtf cma rinsed again, that makes 3
[11:03] {RonS} dunno if i will play it but knl reported great qtr and look...
[11:05] {dino} think we have to
[11:08] {RonS} At least 14 police officers hospitalized with injuries in clashes with Greek demonstrators
[11:09] {nemo} funny, width of my window breaks up the words so it says "clashes with Greek demons"
[11:09] {dino} lol
[11:09] {dino} knl l .55
[11:17] {nemo} sina
[11:18] {RonS} sohu
[11:18] {RonS} chinese burrito stock...dang, etc
[11:21] {dino} knl stopped, sheesh
[11:24] {Threei}  EU's Van Rompuy: might have to consider changing unanimity rules for making euro zone decisions; all EMU countries should yield some sovereignty as part of greater integration
[11:24] {Threei}  heh
[11:24] {dino} lol
[11:24] {dino} lets see that pass a vote
[11:24] {RonS} these guys chewing peyote over there?
[11:24] {nemo} WHERE???
[11:25] {ese} just dropped the kids off at school and now I gotta go.....cya tomorrow
[11:26] {Threei}  take care ese
[11:26] {dino} cya ese gj
[11:28] {dino} last try cma sm l .39
[11:38] {RonS} sm l knl .93
[11:38] {cipher} me too in knl .95
[11:40] {cipher} stopped
[11:41] {dino} sm l .76 knl
[11:46] {dino} cma to flat
[11:56] {dino} knl stopped.
[11:56] {dino} taking a break, i suck today
[11:59] {cipher} l knl .12
[12:00] {cipher} out partial .39
[12:03] {Threei}  nice
[12:05] {cipher} out another partial at .49
[12:06] {RonS} knl l .40 ave
[12:06] {Threei}  getting back in the groove, cipher :)
[12:07] {cipher} seems like it
[12:10] {cipher} misjudged my last exit knl only got 100 filled at .60
[12:13] {cipher} here we go out rest +.48
[12:13] {Threei}  wtg
[12:13] {dino} apkt sm l .00
[12:14] {dino} wtg cipher
[12:14] {cipher} thx
[12:18] {cipher} first positive day for me
[12:18] {RonS} out knl .68 +.28 ese size
[12:18] {cipher} I will leave while ahead
[12:18] {cipher} take care cu tomorrow
[12:19] {RonS} cya cipher and thanks...best day in months for me...
[12:19] {dino} cya cipher
[12:20] {Threei}  take care cipher, gj
[12:20] {Threei}  not bad, a few days after starting out
[12:39] {Threei}  declaration draft by OWS says:
[12:39] {Threei}  4. A complete lifetime ban on accepting all gifts, services, money, directly or indirectly, to any elected or appointed federal officials or their immediate family members, from any person, corporation, union or other entity that the public official was charged to regulate while in office.
[12:40] {Threei}  I understand President will be forever banned from accepting a bottle of wine for his birthday from anyone
[12:40] {Threei}  since he regulates whole USA population, in a sense
[12:42] {Threei} Short Setup: LVS  .50 break
[12:48] {Threei}  come on .60, hold
[12:53] {Threei}  no go
[12:53] {dino} aqpkt stop -.21
[12:54] {dino} apkt
[12:57] {RonS} fl rumor...
[12:58] {dino} f'ing rinses, apkt makes 4
[13:03] {Threei}  https://sites.google.com/site/the99percentdeclaration/
[13:04] {Threei}  incredibly eclectic mix of correct, naive, unworkable and idiotic
[13:11] {dino} apkt rinses me and runs .70. wtf
[13:20] {Threei}  (EU) EFSF technical discussions now centering around purchases of collateral for guarantees, after legal experts say direct guarantees are not possible - financial press
[13:20] {RonS} who is riding and who is driving?  :  WSJ: EU Lawyers Have Rejected Direct EFSF Guarantees
[13:20] {Threei}  this all is so wrong...
[13:21] {Threei}  it's like if you find yourself on the wrong road, you continue driving further with oncreased spped instead of turning back
[13:21] {Threei}  and hope it will get you where you need to be
[13:22] {Threei}  this course of action got you there - reverse it, for pete's sake!
[13:22] {Threei}  why do more of what got you in troubles in the first place?
[13:28] {dino} rnow blood
[13:31] {RonS} pretty funny...from you bud 3i:  http://tinyurl.com/3mkc6vh
[13:34] {Threei}  heh
[13:34] {nemo} http://www.klfy.com/story/15717759/second-hand-dealer-law
[13:35] {RonS} hah...like anyone in LA pays any attention to the law...
[13:36] {dino} sina sm l .00
[13:38] {RonS} idiocy unleashed:  http://tinyurl.com/5wvr925
[13:40] {dino} stopped
[13:40] {RonS} starting to get a faz itch...copper -.11
[13:40] {dino} 5th rinse
[13:47] {Threei}  GR) Greece Parliament said to have begun voting process on supplemental austerity bill, ahead of final austerity vote expected on Thursday - financial press
[13:47] {Threei}  - REMINDER: Greece is in the midst of a 48-hour general strike in protest of the new austerity measures.
[13:55] {RonS} hearing beige book in 6 min
[14:00] {Threei}  yeah
[14:00] {Threei}  just started
[14:01] {Threei}  *(US) FED'S BEIGE BOOK: ECONOMY GREW AT A MODERATE AND SLIGHT PACE; COST PRESSURES EASING IN MOST REGIONS
[14:01] {Threei}  looong
[14:01] {Threei}  and useless
[14:04] {RonS} fidelity reported that sarkozy says bail fund expansion talks have stalled
[14:04] {RonS} look V
[14:04] {RonS} caw, caw
[14:07] {Threei}  what's woth it?
[14:07] {Threei}  I see no news
[14:08] {RonS} me either
[14:08] {dino} div raised
[14:08] {RonS} More Lawsuits Take Aim At Visa And MasterCard ATM Policies       10/19 11:36 AM
[14:08] {RonS} ??
[14:16] {RonS} v sm l .89
[14:16] {RonS} should say vsm l...one way or another...
[14:18] {RonS} out -.18
[14:27] {Threei}  hmmm
[14:27] {Threei}  why no news on wires
[14:27] {Threei}  re: fidelity
[14:27] {nemo} what happened
[14:27] {Threei}  as always... dino had to trip of the cord and unplug the market
[14:28] {dino} sorry
[14:28] {nemo} clumsy oaf!
[14:28] {dino} been that kind of day
[14:40] {Threei} Long Setup:  TZA  .50 break
[14:40] {Threei}  half lot
[14:43] {nemo} after that run I just couldn't...God bless ya
[14:43] {Threei}  half out
[14:43] {Threei}  stop to .48
[14:45] {Threei}  scalpers win
[15:04] {Threei} Long Setup:  FAZ  51 break
[15:04] {Threei}  half lot
[15:05] {Threei}  stop under .90 or .85
[15:05] {Threei}  both are valid
[15:05] {Threei}  target .45
[15:06] {Threei}  half out .18
[15:06] {Threei}  stop to .95
[15:13] {RonS} sorry, stepped away...can't handle the chop
[15:25] {RonS} see youze tomorrow...have an appt...
[15:26] {Threei}  take care ron
[15:33] {nemo} mmmhhh bids higher than offers on tna
[15:35] {Threei}  INET seems to be having problems
[15:37] {nemo} wonder if they got hacked
[15:41] {Threei}  nice smacking
[15:56] {Threei}  thank you all, have a great evening
[15:56] {Threei}  see you tomorrow

Oct 18 2011

(Participation in the room in real time requires membership)

5 calls, 5 wins - can it get any more perfect?


Session Time: Tue Oct 18 00:00:01 2011
[07:55] {_tarkus62} gm all
[08:43] {Threei}  good morning
[08:43] {nemo} eh
[08:43] {Threei}  I know
[08:44] {Threei}  German Finance Minister Schaeuble abruptly announced yesterday that investors should not expect a final solution for the Eurozone crisis during October 23rd summit.
[08:45] {Threei}  This healthy dose of reality check coupled with disappointing Chinese GDP dampened the optimism that had prevailed a few days ago after the G20 meeting.
[08:45] {Threei}  I am yet to understand where that optimism came from... seems so obvious there is no way EU will resolve it all in any relatively short time
[08:48] {Threei}  look at this beauty:
[08:48] {Threei}  EU Officials reiterated that the main idea for leveraging the EU bailout fund was to use it to guarantee first losses on new debt
[08:48] {Threei}  so, no one even doubts there WILL be losses, lol
[08:57] {Threei}  lol
[08:57] {Threei}  Yankees' Salaries vs. Everyone Else's. Where's The Outrage? How About An "Occupy Yankee Stadium"?
[09:09] {dino} gm all
[09:09] {Threei}  dino :)
[09:12] {Threei}  mother of all strikes in Greece
[09:12] {Threei}  http://www.reuters.com/article/2011/10/18/us-greece-idUSTRE79H1FI20111018
[09:30] {Threei}  is there a mibbit problem?
[09:30] {Threei}  not everyone seems to be able to connect
[09:30] {nemo} gs running
[09:32] {dino} ok here
[09:32] {Threei} Long Setup:  JPM  .55 break
[09:32] {Threei}  if stays above .45
[09:33] {Threei}  invalidated
[09:33] {Threei} Short Setup: FCX  .40 break half lot
[09:33] {Threei}  if stays under .55
[09:34] {Threei}  no chance?
[09:34] {Threei}  or anyone got it?
[09:34] {dino} no
[09:35] {nemo} didn't take it because of support at .30
[09:35] {Threei}  OK, same setup from here
[09:35] {Threei}  only with stop above .50 this time
[09:35] {Threei}  target 1:3, 3 partials
[09:35] {Threei}  1:1
[09:36] {Threei}  stop to ,.43
[09:36] {nemo} god bless ya
[09:36] {Threei}  scalpers win
[09:36] {Threei}  JPM got away
[09:37] {larisa} gm :)
[09:37] {Threei}  larisa :)
[09:39] {Threei} Long Setup:  RIMM  .80 break
[09:39] {Threei}  if stays above .70
[09:39] {nemo} .83 is pivot
[09:39] {nemo} I'd look for a short also
[09:40] {Threei}  invalidated
[09:40] {Threei}  on bounce, maybe...
[09:40] {Threei}  a bit too sharp rewd bar to chase short
[09:40] {nemo} just because pivot would make a nice resistance
[09:40] {dino} 07 green
[09:41] {Threei} Long Setup:  RIMM  .70 break
[09:42] {Threei}  correction, .65 break
[09:42] {Threei}  if holding .60
[09:42] {Threei}  invalidated
[09:46] {Threei} Long Setup:  TZA  .50 break half lot
[09:46] {Threei}  stop under .35
[09:47] {Threei}  target .90
[09:47] {Threei}  1:1
[09:48] {Threei}  a bit too sharp
[09:48] {Threei}  1:2
[09:49] {Threei}  target hit
[09:49] {Threei}  out .93
[09:49] {Threei}  and even that was too soon
[09:52] {Threei}  really really too soon
[09:52] {Threei}  lol
[09:54] {Threei}  FCX, did you have to rinse second half of our short?
[09:55] {RonS} sohu sm l .85
[09:57] {RonS} out -.30
[09:57] {Threei} Long Setup:  FCX  .40 break
[09:57] {Threei}  half lot
[09:57] {Threei}  stop under .25
[09:58] {Threei}  looks a good chance for double bottom
[09:58] {dino} sohu gap fill
[09:58] {dino} sm l .52
[09:58] {nemo} stop should be under .20, no?
[09:58] {Threei}  no
[09:58] {Threei}  1:1
[09:58] {Threei}  golds on, I'll explain when done
[09:58] {Threei}  hold on
[09:59] {dino} chk l .26
[09:59] {Threei}  stop to .39
[09:59] {Threei}  want 1:2
[10:00] {Threei}  *(US) OCT NAHB HOUSING MARKET INDEX: 18 V 15E
[10:01] {Threei}  stop to .45
[10:01] {Threei}  stop to .49
[10:02] {nemo} is LASER acting weird for anybody?
[10:02] {Threei}  no.. fine here
[10:02] {Threei}  out
[10:02] {cipher} fine here too
[10:02] {Threei}  should have just taken .67, was close enough to 1:2
[10:02] {Threei}  3 out of 3 so far
[10:02] {Threei}  can I just go home?
[10:03] {cipher} good calls 3i
[10:03] {Threei}  on that stop, while I remember
[10:03] {cipher} keep them coming
[10:03] {Threei}  ty cipher
[10:03] {Threei}  there was a very long tail on first bottoming candle,
[10:03] {Threei}  and lower BB started curving up,
[10:04] {Threei}  I want to see second bottom higher in this case,
[10:04] {Threei}  and if price dove below .25, it would pierce lower BB again
[10:04] {Threei}  rendering double bottom very unlikely to work
[10:04] {dino} sohu stop 0,33
[10:05] {Threei}  the chance of .20 holding after that would be so minimal, I was comfortable placing stop ynder .25
[10:07] {Threei} Long Setup:  FCX  .50 break
[10:07] {Threei}  half lot again
[10:07] {dino} sohu rinsed
[10:08] {Threei}  if stays above .40
[10:08] {Threei}  jf's favorite phrase when we are batting 100% in the morning: let's continue at this pace till first stop
[10:10] {Threei}  stop to .44
[10:10] {Threei}  1:1
[10:11] {Threei}  4 for 4
[10:14] {dino} gj vad
[10:14] {Threei}  ty
[10:15] {dino} sohu sm l .21
[10:15] {Threei}  after losing Fri and shaky yesterday, had to get back in the groove
[10:15] {nemo} sorry was busy with my platform bugs, spy bounced just above premarket low
[10:23] {dino} hal l .51
[10:29] {RonS} wow is hal on crack...got it .66 to .84  thanks dino
[10:30] {Threei}  wtg
[10:31] {RonS} freakin thing was jumping .05 in miliseconds
[10:36] {Threei}  this headline will keep me laughing for days:
[10:36] {Threei}  (US) Treasury Sec Geithner: Tax reform cannot be complete in only a few months; the code is full of special preferences that require reform
[10:37] {Threei}  you mean those same preferences that you used not to file your own tax return, tim?
[10:38] {dino} gj ron, gut says higher. trades like pulp today
[10:39] {dino} out hal .85, +.33
[10:40] {RonS} think it is caught up in that apc bp settlement story
[10:43] {dino} sm l sina .99 wide
[10:45] {RonS} lost internet for couple of min...that was unnerving...
[10:46] {dino} must be ron, great report, shale is booming for them, etcx
[10:47] {RonS} hal...think the machines are heavily involved today
[10:54] {RonS} dino in sohu .54 ave...what is your target...thinkin 55.45
[10:54] {dino} .22
[10:54] {RonS} tks
[10:55] {dino} could go lots more either way, that and sina all over charts
[11:04] {dino} out sohu .74, +.53
[11:04] {dino} will re-load
[11:05] {RonS} gj
[11:07] {Threei}  amazing consistency in this pattern:
[11:07] {dino} ty
[11:07] {dino} tricked me, went up
[11:07] {Threei}  morning, market drops bounceas, we get 4 trades, win all 4, last one is 10:07,
[11:08] {Threei}  then slow climb starts, I can't find anything
[11:08] {Threei}  look at 10:07 at the SPY chart
[11:14] {dino} out chk .59, +.33
[11:18] {Threei}  nice
[11:20] {RonS} sohu gonna rip if it breaks that 55 wall
[11:21] {dino} having lots of trouble w/it
[11:28] {Threei}  lol
[11:28] {Threei}  (EU) France Fin Min: working on a "strong response" for the EU summit on Oct 23
[11:28] {Threei}  as in "you cal all go to..."?
[11:35] {dino} chk sm l .45
[11:36] {dino} 07 all green
[11:36] {RonS} sohu wall order moved to .95
[11:38] {RonS} gone...
[11:38] {RonS} come on sucker...rippp
[11:39] {Threei}  (GR) Greece PM Papandreou: Country currently held hostage by protests and strike actions; will ultimately not help the country
[11:39] {Threei}  and your sellout will
[11:40] {Threei}  unfrikinbelieavable
[11:42] {RonS} out sohu .22  +.68
[11:42] {Threei}  wtg
[11:42] {dino} gj ron
[11:42] {dino} look sina
[11:43] {dino} sina to .99
[11:45] {dino} out sina .96, +1.97
[11:45] {RonS} gj
[11:48] {Threei}  Occupy Victoria folks set up living room and makeshift kitchen,
[11:48] {Threei}  and said they are not leaving until changes are made.
[11:49] {Threei}  considering that they haven't compiled any particular list of changes, beyond "do away with capitalism..."
[11:49] {RonS} ring, ring...calling the storm gods...
[11:50] {RonS} 50 mph wind/rain storm will change their tune
[11:50] {Threei}  swill... slept thrugh our winning trades in the morning... :(
[11:51] {swill} yes. bummer
[11:51] {Threei}  what amazes me about these folks,
[11:52] {Threei}  what they actually protest against (bailouts etc) is the act of socialism, not capitalism,
[11:52] {Threei}  and they should occupy Washington DC, not Wall Strteet
[11:52] {dino} right
[11:53] {RonS} thoeretically strictly speaking you are coreect 3i...bailouts are socialism...
[11:53] {Threei} Long Setup:  RIMM  23 break
[11:54] {Threei}  Research in Motion Ltd CEO: Plan to make some "exciting announcements" today - developer day presentation
[11:54] {RonS} but from the jump, in Adam Smith's texts he describes that business prople are anit- competition which is one result of the bailouts
[11:54] {RonS} anti
[11:54] {Threei}  right
[11:55] {Threei}  that's why sane regulation preventing monopoly is a great balance
[11:55] {RonS} corporations embrace government to stymie competition
[11:55] {Threei}  stop under .90
[11:56] {Threei}  1:1
[11:56] {Threei}  and 5 for 5
[11:58] {dino} nice day 3i
[11:58] {Threei}  very
[11:58] {dino} 5/6 here w/chk itm and open
[12:10] {Threei}  that blog post of mine went over 1000 views
[12:10] {Threei}  first time ever
[12:10] {Threei}  added some comments btw
[12:10] {swill} your on fire
[12:11] {nemo} give him a gold star for his forehead
[12:11] {swill} lol
[12:18] {dino} vad's going to be famous
[12:18] {Threei}  unless I get together with nemo and drink myself into oblivion
[12:19] {Threei}  ok, I am going to take an exception to the last words of this statement:
[12:19] {Threei}  (EU) ECB's Trichet: Govts should handle their responsibilities on debts, it is not the purpose of the ECB to fix the failures of Govts
[12:19] {Threei}  - Inflation expectations are firmly anchored; the Euro will exist in 10 years time
[12:19] {Threei}  10 years? I really doubt that
[12:39] {nemo} wow gmcr
[12:51] {Threei}  I am a shmuck
[12:51] {Threei}  was looking at GNCR for 81.40 breakut
[12:51] {Threei}  around 12:35
[12:52] {Threei}  decided it was a bit beyond risk tolerance
[13:31] {Threei}  anyone ever heard of bitcoin, electronic currency?
[13:31] {RonS} no
[13:31] {Threei}  good... 90 percent fall since the currency hit its peak in early June
[13:32] {Threei}  http://arstechnica.com/tech-policy/news/2011/10/bitcoin-implodes-down-more-than-90-percent-from-june-peak.ars
[13:32] {Threei}  funny... such drama, and I never even heard of its existence
[13:46] {RonS} lol:  http://tinyurl.com/684hv58
[13:47] {dino}  nflx smr l .30
[13:49] {Threei}  heh
[14:00] {dino} out nflx .90, +.60
[14:14] {Threei}  wrg
[14:14] {Threei}  sorry, took me a while to wake up
[14:14] {Threei}  coma is very deep
[14:14] {dino} thx
[14:18] {dino} chk to .84
[14:20] {nemo} gmcr weak in this strength
[14:20] {RonS} just add booze...
[14:24] {dino} look at hal back to flat
[14:25] {RonS} look bhi pten pbr
[14:25] {RonS} oxy
[14:26] {RonS} lots of energy names w/ big volume pockets overhead
[14:30] {dino} ?you mean gaps?
[14:31] {dino} or thin vol drops?
[14:31] {nemo} in the price drops there was very little volume at the different levels
[14:31] {nemo} won't be much supply coming in to get out of trapped longs
[14:31] {dino} ok, i get it
[14:32] {nemo} boy, can I sling it
[14:32] {dino} lol
[14:32] {dino} chk to .90
[14:32] {nemo} I think he's basically talking about the same thing I did on those levels in SPY and IWM in the weekend post
[14:33] {dino} w/ese i think he asked
[14:33] {nemo} yeah...
[14:34] {dino} see vad, we do read the posts
[14:34] {Threei}  wow
[14:34] {nemo} I guess my career in fiction writing has a chance
[14:35] {Threei}  prove it - write the last three books of War Against Chtorr
[14:35] {Threei}  millions of fans will pray for your health
[14:38] {dino} out chk .90, +.45
[14:40] {RonS} sm s chkp .02
[14:40] {Threei}  hmmm... nemo went to start writing or what
[14:41] {RonS} he's dancing...
[14:41] {RonS} ...the bunny hop...
[14:41] {Threei}  oh
[14:41] {Threei}  am I sorry I asked...
[14:41] {RonS} lol
[14:41] {Threei}  this image will burn my retina for days
[14:47] {cipher} thx Ron CHKP
[14:47] {RonS} what i took -.18
[14:48] {RonS} u went long?
[14:48] {cipher} I thought you called long
[14:48] {cipher} y
[14:48] {RonS} good for you...
[14:48] {cipher} looked like support to me
[14:50] {dino} s=short
[14:50] {cipher} sorry
[14:50] {dino} but gj
[14:50] {cipher} im kinda new to this
[14:51] {cipher} doing better with order routing today, thx to 3i
[14:52] {Threei}  :)
[14:52] {dino} beam spike
[14:53] {dino} fbhs spike
[14:54] {RonS} sheesh, nemo hit the bar?
[14:57] {Threei}  that would be my gueasa
[14:57] {Threei}  guess
[14:57] {Threei}  and odds are on my side
[14:58] {dino} the way you spelled guess i thought you had joined him
[14:59] {Threei}  lol
[14:59] {Threei}  I wish
[15:03] {dino} thinking there must be alot of trapped shorts from yesterday
[15:03] {dino} gaps above 11644, 2371, 1224
[15:04] {dino} hft
[15:09] {RonS} 2 trillion rescue funds agreed- france and germany
[15:09] {RonS} hearing not confirmed
[15:12] {Threei}  (EU) European officials are close to agreement on details of EFSF plans for the Cannes Summit on Oct 23rd - UK Guardian
[15:12] {Threei}  - France and Germany have reached agreement to boost the EFSF, EU diplomats said.
[15:12] {Threei}  - Latest plans discussed by the Guardian include allowing the EFSF to offer first-loss guarantees for bondholders, be they private or public. Senior officials say this plan will lever the fund to 2T compared with the current 440B in funding. This would effectively make the EFSF an insurer, overcoming ECB resistance to the idea of turning into a bank.
[15:12] {Threei}  - Berlin and Paris have agreed that Europe's banks should be recapitalised to meet the 9% capital ratio that the European Bank Authority is demanding following its re-examination of the exposure levels of between 60 to 70 "systemic" banks.
[15:12] {Threei}  - France and Germany are close to agreeing on the increased share of private sector involvement.
[15:12] {dino} 1224 filled 2371 filled
[15:12] {dino} 11644 filled
[15:12] {dino} did not expect that today, was just posting for ref.
[15:17] {dino} another 300 pt range day
[15:30] {Threei}  consequences of all this mess just became heavier by about $2T
[15:31] {dino} am i reading this correct, 2t=inflating it away=devalue euro?
[15:31] {Threei}  considering that no one is going to repay it, yes
[15:32] {dino} hard assets should move up on this
[15:32] {Threei}  gld and silver did
[15:33] {Threei}  retracing somewhat
[15:33] {Threei}  it's still not a signed agreement
[15:33] {dino} in any case, gotta hop, thx all, good day, good time, back for close maybe
[15:33] {Threei}  and who knows what kind of riots we may see tomorrow
[15:33] {Threei}  take care dino\
[15:40] {Threei}  OK guys, going to leave at this
[15:40] {Threei}  thank you all, see you tomorrow
[15:41] {larisa} bye :)