Nemo's Findings for 12/13

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Here are the images:

Here are the links:

http://www.freestockcharts.com?emailChartID=9e56c3e8-d596-492b-9cb0-0ed683ce724c


http://www.freestockcharts.com?emailChartID=babf956e-a5c9-4e51-906a-fa077c5dc5e5


Don't forget, the links include a composite link and the time frames broken down in the tabs starting from left to right, including the fib retracements I'm currently looking at, and the subjective price levels. Nothing particularly noteworthy other than the daily.  Notice how both the spy and the iwm have regained the price channel that originally formed over the 6 week period starting the beginning of August.  What's also interesting is the Volume at Price. Notice the volume overhead above the current range in both the IWM.  Pushing through the 200sma to 137 area on spy and the 200sma to 84 area on iwm could provide for some significant resistance...emphasis on could. On an intra-day basis the multi-time frame levels and the retracements have been playing consistent roles in price action.  However, and this may be due to the wide distribution of monthly pivot levels due to last month's historic price movement, subjective price levels have played more of a role of late.  We'll see what tomorrow will bring.

Market Week Wrap-up

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

- The situation in Greece stabilized this week with the swearing in of a new government, headed by former ECB Vice Chairman Lucas Papademos, leaving markets free to maul Italy. Coming into the week, Italian Prime Minister Berlusconi clung tenuously to power until his coalition partners withdrew support for his rule, threatening an immediate collapse of the government. Political breakdown drove bond market chaos, and yields on Italian 10-year debt surged above the key 7% level early on in the week. But the ECB repeatedly stepped in to buy Italian bonds and helped shepherd yields back below 6.5% by the end of the week. The situation frightened Berlusconi into pledging that he would resign and permit the formation of a new government, a process that should be completed this weekend. Global equity markets sank in inverse proportion to Italian yields, although they rebounded significantly on Friday, in thin trading that accompanied the closure of US bond markets for the Veterans Day holiday. In the US, there was a great deal of uncertainty about the ability of Congress' bipartisan supercommittee to agree on a spending and deficit slashing plan. In Asia, China's October economic data, including PPI and CPI reports and industrial production, were weaker than expected. For the week the DJIA gained 1.4%, the Nasdaq slipped 0.3%, and the S&P500 dipped 0.8%. Safe haven flows favored gold during the week as the precious metal re-approached the $1,800/oz area, and crude oil climbed another 5% to $99/barrel.


- Most of the S&P500 has now reported earnings, and the Q3 earnings season is winding down. General Motors Q3 profit was down 15% y/y thanks to a loss in Europe. In addition, the firm warned that operating profit in the current quarter would be flat. GM also faced an NHTSA report that raised concerns about a fire hazard from the massive batteries that power the Chevy Volt electric vehicle. Note that after GM reported, Ford's CEO said he was concerned with the uncertainty facing the economy, but pledged to deliver on the company's earlier FY11 European forecasts.

- In tech, Cisco once again modestly exceeded expectations on modest profit growth. Investors were pleased to hear CEO Chambers say the firm has completed most of its restructuring and remains focused on margins. Chip maker NVIDIA's quarterly profit widely beat expectations. Executives were very positive about the competitive potential of the firm's new Tegra 3 processor in the mobile phone space. Computer gaming names Activision and Take-Two both topped expectations in quarterly reports; Activision hiked is FY11 outlook and Take-Two reaffirmed its FY12 outlook. Additionally, Activision said that its newly released Call of Duty: Modern Warfare 3 game set a record with $400M in sales in the first 24 hours of sales.

- Retailers Macy's, Liz Claiborne, and Ralph Lauren all comfortably topped earnings expectations, Macy's and Liz by wide margins. Liz and Ralph Lauren saw big double-digit increases in quarterly comp sales metrics. Macy's also tweaked its FY11 outlook higher. Nordstrom disappointed investors after it merely met expectations and failed to increase its FY11 outlook. McDonald's reported a higher-than-expected rise in worldwide October same-restaurant sales, with a strong +5.2% result in the United States.

- Homebuilder DR Horton missed both top- and bottom-line expectations slightly, although its sales orders, backlog and closing metrics showed strong growth. High-end builder Toll Brothers released a very positive preliminary look at the firm's Q4. Revenue beat expectations and the firm's home deliveries, signed contracts and backlog were all up notably over year-ago levels.

- European debt markets were once again the overriding factor in fixed income trading. Risk assets began the week out of favor as sovereign spreads, particularly in Italy and France, blew out to fresh all-time highs. Treasury and Bund markets rallied early on pushing the US benchmark back below 2% and the German 10-year briefly under 1.7%. As the week drew on though, the political situation in both Greece and Italy appeared to stabilize while reports also suggested the ECB had become more aggressive in purchasing sovereign debt which helped restore risk appetite. European sovereign spreads narrowed into Friday while Bund and Treasury futures prices sold off. High grade corporate debt underperformed under the weight of a mountain of late year issuance and the investors' increased willingness to take on riskier assets.

- The installation of a transitional government in Athens and the imminent departure of Berlusconi capped a rollercoaster ride in FX markets this week. After Greece committed itself to forming a new government last weekend, the focus shifted to Italy, where temporizing by Berlusconi and moves in the bond market hammered the euro on Wednesday and Thursday. On Sunday, ECB member Mersch warned that the ECB might discontinue purchases of Italian bonds if the government was unable to provide strong evidence that it would be able to meet its fiscal targets. More press reports indicated that the ECB governing council was not interested in giving Berlusconi's government cover via continued bond buying. These hints were not enough, however, and Berlusconi continued efforts to cling to power, until finally his Northern League coalition allies abandoned him in a procedural vote on Tuesday. With fears that the entire government could collapse in a no-confidence vote at any time, yields on the Italian 10-year surged above 7%, prompting clearinghouses to hike margin requirements for Italian bonds, which squeezed yields even higher. Outright yields and spreads against the 10-year German Bund widened for the debt of all euro-zone member states. With the Italian yield spread blowing out, FX dealers reminisced about how long it took other peripheral euro zone states to beg for bailouts after yields on their 10-year notes rose above 7%: Portugal took 49 days, Ireland lasted 15 days, and Greece only held out for only 13 days. The response in the bond market sharpened Berlusconi's resolve, and he agreed to step down following parliament's passage of the government's 2012 budget, including austerity measures, which should be complete by Sunday. Former EU commissioner Mario Monti is the most likely candidate to lead a transitional Italian government.

- On Wednesday morning, before real panic had set in, EUR/USD was trading above 1.3850, but by late the same day the cross was below 1.3550 and on Thursday morning the cross dipped briefly below 1.3500. As the week drew to a close the euro was off its worst levels, after the Italian upper house approved the budget and austerity measures, Portugal's Parliament approved its 2012 draft budget and Greece officially appointed Papademos as the new prime minister and swore in a new cabinet. Italy managed to sell 12-month bills and Spain said that it would proceed with its planned auction next week despite extreme market conditions. And despite Mersch's comments, the ECB continued aggressive buying of peripheral bonds all week. Nevertheless, multiple ECB figures spoke out against calls for the ECB to staunch the crisis by undertaking even more aggressive bond buying or by setting itself up as the "lender of last resort" for various euro zone institutions, including banks. Dealers note that the ECB might discuss unsterilized primary and secondary bond purchases, an action is currently forbidden under the central bank charter, but might be excused if it helps to ensure an orderly market. In multiple statements, outgoing member Stark reiterated that the ECB is committed to its single mandate and that becoming a lender of last resort would sacrifice ECB independence.

- The Swiss National Bank (SNB) continued its rhetoric on the over-valuation of the Swiss currency as Oct Swiss CPI report re-enforced its concerns over deflation. The franc maintained a soft tone, and SNB member Jordan reiterated several times this week alone that the currency remained overvalued even with the current floor of 1.20 against euro. There have been persistent rumors that the SNB could shift that floor to anywhere from 1.25 to 1.35. The EUR/CHF cross ended the week just under the 1.24 level.

- The USD/JPY pair managed to move below the 78 handle with markets testing the BOJ resolve to weaken the JPY currency. The BoJ had not been directly involved in the pair since the Oct 31st massive intervention, but was reportedly using semi-official names to keep it close to 78.00. The pair continued to drift lower towards the lower portion of the 77 neighborhood.

- October economic metrics out of China served up a progress report for Beijing policymakers threading the needle of a soft landing. The most closely monitored CPI figure fell for the 3rd consecutive month and also matched its 6-month low at 5.5%, in line with consensus. Industrial production and trade data were bleak. The former came in at an 11-month low of 13.2%, offsetting last month's upside surprise. The latter saw the first rise in the overall terms of trade in three months at a $17B surplus, but also showed the slowest growth in exports since February, undoubtedly related to slower growth in Europe -- China's top export destination. Expectations of a policy easing response by the PBoC continued to percolate after the data, as China slashed the yield on its weekly 1-year bill auction to 3.5733% for the first time in nearly 3 months. China bank lending data marked a silver lining to the monthly reporting barrage, with October loans at a 4-month high of CNY587B above CNY500B consensus.

- Elsewhere in the Far East, Thailand flooding continued to inflict damage on the companies most exposed to the manufacturing hub. Reporting first-half results, Toyota was forced to withdraw its full-year outlook because of uncertainly related to supply disruptions. Japanese automakers, barely recovered from the March earthquake, continue to battle the perfect storm of persistently strong currency, slowdowns in their key export markets, and now more natural disasters. In South Korea, the central bank left rates unchanged at 3.25% for the 5th consecutive month but also scaled back its tightening bias, pointing to a longer than anticipated global turmoil.

TradeTheNews

Nov 11 2011

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Shaky start, but the rest of the day went much better and allowed to squeeze profit. Catch of the Day:

Session Time: Fri Nov 11 00:00:00 2011
[09:07] {nemo} When the moon hits your eye, like a big pizza pie, that's amore...
[09:08] {Threei}  hmmm
[09:08] {Threei}  say what?
[09:08] {nemo} kept drinking through the night, sorry
[09:08] {Threei}  ah
[09:09] {Threei}  so business as usual
[09:09] {nemo} except not trading
[09:09] {Threei}  grr
[09:11] {dino} gm all
[09:12] {Threei}  dino :)
[09:12] {Threei}  (EU) EU President Van Rompuy: Plan to hold Euro Zone Summits immediately after European Council meeting
[09:12] {Threei}  s- Euro is a political project but cannot survive without sound and stable economic foundation
[09:12] {Threei}  - Italy will have real work to do after parliament approves latest budget steps ; implementation remains critical
[09:16] {dino} a thanks goes out to all veterans
[09:16] {Threei}  second that
[09:20] {Threei}  - EU said to have rejected China's conditions for providing funds to ease debt crisis
[09:20] {Threei}  - German Vice Chancellor Roesler rejected the concept that ECB had unlimited firepower and added that
[09:20] {Threei}  once ECB opened the floodgates they could never be closed again
[09:20] {Threei}  - German CDU (coalition) party said to pass motion to reject two-speed Europe concept
[09:22] {jakob} good morning
[09:22] {Threei}  jakob :)
[09:23] {thomcbell} futures up 14 aapl up 1.50 - may as well be down 3
[09:24] {Threei}  CS:
[09:25] {Threei}  � We are approaching the point where the ECB has to show its hand and accept its role as a lender of last resort. Yet, the question is how much further turmoil is required for it to do so.
[09:25] {Threei}  � Italy is the linchpin of the Euro-crisis: it accounts for 17% of European GDP, 7% of Germany exports directly and 25% of Euro-area government bonds outstanding. Without Italy, we believe, there is no Euro. If Italy were (somehow) to leave the Euro, the other members of peripheral Europe would be forced to leave as well, given the degree of competitive devaluation.
[09:25] {Threei}  � Italian bond yields need to be below 6%-6.5% for the funding arithmetic to be sustainable. If the Italian parliament passes the austerity measures (as seems near certain) this week-end and then forms a technocratic government enjoying widespread support with no elections until summer (a scenario that has a 60% probability, in our view), this, together with some help from the ECB, should help BTP yields to fall to 6%. Yet, there is clearly a lot room for political slippage.
[09:25] {Threei}  � If BTP yields stay at current levels, the ECB has to significantly step up its purchases of Italian government debt. Yet, it is unlikely to do so if Italy refuses to implement the agreed austerity measures. These are almost certain to pass, in our view. However, if they did not, we would really struggle to see how the Euro survives in its current form.
[09:26] {Threei}  now, read this carefully,
[09:26] {Threei}  this is dino's scenario:
[09:26] {Threei}  � The moment the ECB starts to act as a genuine lender of last resort, we effectively get open-ended QE (even if the ECB is not printing money). In time, this would lead to QE3 in the US (owing to dollar strength) - and thus the end game: more printing and negative real 10-year bond yields, which would greatly alleviate government debt burdens, drive down savings ratios, reduce the cost of capital and push investors into risk assets.
[09:27] {Threei}  � There are only two long term solutions to the situation in peripheral Europe: growth (via a weaker Euro in the short term, higher productivity in the long-term) or the mutualisation of debt (via Eurobonds or ECB buying - yet, in the short term, the ECB is the only practical option).
[09:28] {Threei}  � On the negative side, the more policy makers in core Europe talk about the possibility of a country leaving the Euro (following Sarkozy's remarks on Greece last week and leaks on Reuters overnight), the greater the possibility of a default. This is because the deposit flight is likely to accelerate (there are still �� 187bn of deposits with Greek banks). Either this has to be offset by the ECB repoing more domestic bonds (thereby mutualising the debt) or loans in the periphery have to fall a lot further (leading to unsustainable deflation and default).
[09:28] {dino} hmmm
[09:31] {Threei} Long Setup:  FCX  .90 break
[09:31] {Threei}  if stays above .80
[09:32] {thomcbell} lvs sold into right away
[09:33] {Threei}  let's trail to .84
[09:33] {Threei}  was 1 cent from 1:1
[09:34] {Threei}  wow LVS
[09:34] {Threei}  out FCX
[09:34] {thomcbell} mpel probably a short
[09:36] {Threei} Short Setup: RIMM  .85 break
[09:36] {Threei}  if stays under .95
[09:37] {Threei} Long Setup:  LVS  .20 break
[09:37] {Threei}  if holding .10 for scalpers
[09:37] {Threei}  .05 day traders
[09:38] {Threei}  target about .55
[09:39] {Threei}  RIMM no go
[09:41] {Threei}  LVS 1:1 scalpers
[09:41] {Threei}  1:1 day traders
[09:41] {Threei}  1:2
[09:41] {Threei}  target hit, out
[09:44] {Threei} Long Setup:  FCX  .60 break
[09:44] {Threei}  if holding .50 of course
[09:45] {Threei}  hmm
[09:45] {Threei}  FCX is not obeying today
[09:45] {Threei}  leaving it alone
[09:47] {Threei} Long Setup:  SLW  .80 break
[09:47] {nemo} may db here, but this big gap up
[09:48] {Threei}  I don't know, I'd rather go for .40 break short
[09:48] {Threei}  with stop above .50
[09:48] {nemo} we're gapping up on the thought italy solved it's problem, but we're going into the weekend...we should STB soon
[09:48] {Threei}  SLW invalidated
[09:49] {Threei}  if this one doesn't work on FCX. it's off the screen for the rest of the day
[09:50] {Threei}  1:1
[09:50] {thomcbell} i like FCX coming into the pivot 39.15ish
[09:50] {Threei}  nailbiter, but finally works
[09:51] {pragmatic} what 1:1 ? are we playing anything ?
[09:51] {Threei}  scroll up
[09:51] {pragmatic} SLW the last one
[09:51] {Threei}  [09:45] {Threei} FCX is not obeying today
[09:51] {Threei}  [09:45] {Threei} leaving it alone
[09:51] {Threei}  [09:47] {Threei} Long Setup: SLW .80 break
[09:51] {Threei}  [09:47] {nemo} may db here, but this big gap up
[09:51] {Threei}  [09:48] {Threei} I don't know, I'd rather go for .40 break short
[09:51] {Threei}  [09:48] {Threei} with stop above .50
[09:52] {pragmatic} traders talk
[09:52] {pragmatic} watching for color triggers
[09:52] {Threei}  and you are?...
[09:52] {pragmatic} I am watching charts
[09:52] {thomcbell} wow aapl
[09:52] {pragmatic} with my eye on green and read in mitc
[09:54] {Threei} Short Setup: LVS  .40 break
[09:55] {dino} fcx l .30 stop .19
[09:55] {Threei}  good numbers from Mich confidence
[09:55] {Threei}  *(US) NOV PRELIMINARY UNIVERSITY OF MICHIGAN CONFIDENCE: 64.2 V 61.5E
[09:55] {dino} to .49
[09:55] {dino} out +.19
[09:56] {Threei}  IMF comment on G20: Global demand rebalancing has stalled; elevated risk of falling back into recession in advanced economies
[09:56] {Threei}  let's scratch LVS
[09:56] {Threei}  no, too late
[09:56] {Threei}  out
[09:58] {dino} these imf guys are clowns, "oh really?"
[09:59] {Threei}  heh
[10:01] {Threei} Long Setup:  DHR  .70 break
[10:01] {Threei}  if stays above .60
[10:04] {Threei}  (SL) Slovakia PM: An EMU may need to be broken up as a de facto separation already exists
[10:04] {Threei}  who let this guy speak the t\ruth??
[10:05] {dino} chk sm l .70
[10:05] {Threei}  let's trail DHR to .64
[10:05] {Threei}  50 is magnet on daily
[10:05] {Threei}  looks good, but SPY may snap here
[10:05] {Threei}  so want to keep risk tight
[10:06] {Threei}  see what I mean about SPY?
[10:07] {Threei}  looked very tense near .50
[10:08] {nemo} myabe resistance at .50 area, but clear sailing to the 200 ma at 127.45 or so
[10:08] {nemo} IWM has resistance around 74.20, that could slow things down
[10:09] {dino} r3 127.04
[10:10] {nemo} yeah, and iwm at r2 now
[10:11] {dino} i run that vwap chart all day on s/p thx nemo
[10:11] {nemo} sure
[10:11] {Threei} Long Setup:  SLW  36 break
[10:11] {nemo} it's amazing how often the indexes inflect at these points...
[10:12] {Threei}  stop under .90
[10:13] {dino} brli blood
[10:13] {Threei}  SPY's losing will to live
[10:13] {dino} going for 6/09 gap fill
[10:14] {dino} watch 125.99 spy
[10:16] {Threei}  out SLW
[10:18] {dino} brli filled
[10:18] {RonS} dar l .54
[10:20] {Threei}  DHR 1:1 close enough
[10:20] {Threei}  half out, stop to .69
[10:23] {dino} lng l .22
[10:25] {thomcbell} wow lvs
[10:26] {Threei}  yeah, was looking at it too
[10:26] {Threei}  but didn't see any confident entry
[10:27] {Threei}  this pullback to about .80, maybe
[10:27] {RonS} dds v sm l .10
[10:27] {thomcbell} aapl has real problems today
[10:27] {Threei}  as aggressive entry for 45 break
[10:28] {Threei} Long Setup:  LVS  .85 break
[10:28] {Threei}  if holding .75
[10:29] {thomcbell} ok
[10:29] {Threei}  see C&H forming?
[10:30] {pragmatic} on LVS ?
[10:31] {Threei}  half out
[10:31] {dino} dds pulp type huh ron
[10:31] {Threei}  scalpers got over 1:2
[10:32] {RonS} ya...dallas based so crazy texans involved...
[10:32] {thomcbell} wow industrials very strong
[10:32] {thomcbell} cat tex hon
[10:33] {cipher} dds nice one Ron, thx
[10:33] {RonS} yw
[10:33] {cipher} brli thx dino :)
[10:33] {dino} out dar +.15 ty ron
[10:34] {Threei}  aggressive entries on C&H, one of my favorites
[10:34] {dino} np bro
[10:34] {Threei}  DHR nears 50
[10:34] {Threei}  1:2
[10:34] {Threei}  out
[10:35] {Threei}  day becomes brighter
[10:37] {RonS} out dar .86 +.32  dwarf patience size
[10:37] {RonS} :D
[10:39] {dino} dds odd looks like a decent beat
[10:42] {Threei}  LVS 1:3
[10:42] {Threei}  1/4 more out
[10:44] {Threei}  1:4, out +.40
[10:44] {thomcbell} good patience
[10:44] {Threei}  whew
[10:44] {Threei}  needed this trade to get solidly in black
[10:44] {Threei}  it's one of my core setups
[10:45] {Threei}  seeing it a lot as I go over screenshots for the course
[10:45] {Threei}  played it more than I even realized, lol
[10:45] {Threei}  entry for C&H break as handle starts turning up
[10:45] {thomcbell} fcx lousy
[10:46] {dino} cgk to .80 slow
[10:46] {dino} chk
[10:47] {RonS} just spent the last minutes looking for cgk post...
[10:47] {dino} lol
[10:47] {dino} blind typing
[10:47] {Threei}  lol
[10:47] {Threei}  with fins, too
[10:48] {dino} paws
[10:49] {dino} out dds .91, +.41 ty ron, you da man today
[10:49] {RonS} 3i, no offense to you but sometimes i do miss dino's posts in the heat of battle
[10:49] {RonS} casual suggestion...can dino have his own tab so i can check that occasionally?
[10:50] {Threei}  hmmm
[10:50] {Threei}  I've no idea how to do that
[10:50] {Threei}  you can set a alert on his posts
[10:50] {dino} would put too much pressure on me ron
[10:50] {RonS} ok...has crossed my mind before...good 'nuff
[10:51] {Threei}  it can be done in mirc, not sure about mibbit
[10:51] {RonS} dds stop to .80
[10:51] {dino} wtfg
[10:52] {dino} i thought it would pullback to .50s
[10:52] {Threei}  http://goo.gl/SDZ4b
[10:52] {RonS} stopped +.70
[10:52] {dino} nice
[10:53] {dino} chk to .95
[10:53] {thomcbell} nice sales lvs vad
[10:54] {Threei}  took DHR off a bit early though
[10:55] {Threei}  nears 1:3
[10:55] {Threei}  1:4, sorry
[10:55] {dino} ssssssssllllllllaaaaaaaaaaaapppppppppppp
[10:55] {dino} chk to .04
[10:55] {Threei}  suuuure... just as I got used to tyoing with my knees, I am getting slapped
[10:56] {dino} :O
[10:58] {RonS} dds v sm l .60
[10:58] {dino} out chk .08, +.38
[10:58] {RonS} wtg
[10:58] {dino} ty
[11:03] {RonS} so stupid...is not the logical opposite of this that the world will never fall into recession?...IMF Warns Developed Nations May Fall Into Recession
[11:03] {Threei}  lol
[11:04] {Threei}  it just confirms, ron... "Common sense isn't" :)
[11:06] {Threei}  Euro vs US Dollar Goldman Sachs analysts recommend buying Euro; target of $1.40 (timing uncertain)
[11:06] {Threei}  ummm
[11:06] {Threei}  this I don't understand
[11:06] {Threei}  there are two ways forward
[11:06] {Threei}  break up of EU or endless printing
[11:07] {Threei}  in which of them Euro is a buy?
[11:07] {dino} gs is short
[11:12] {dino} lng to flat, thing won't move
[11:13] {RonS} ...guess you could say it's frozen...
[11:13] {dino} just moved to .29
[11:14] {dino} ugh chk
[11:14] {dino} out lng .29, +.07
[11:18] {dino} r3 127.04
[11:19] {RonS} out dds .90 +.30
[11:20] {RonS} so dino did you get that joke?
[11:21] {Threei}  there was a joke?
[11:21] {dino} ?
[11:21] {RonS} how do you make lng?
[11:21] {dino} ahh, freeze it
[11:22] {RonS} take ntural gas and freeze it to make lng...
[11:22] {dino} it's friday ron, my mind is too cluttered
[11:25] {Threei}  oh boy
[11:25] {Threei}  and this man picked on my jokes
[11:25] {RonS} lol
[11:26] {Threei}  as little Johnny said looking in the parents bedroom keyhole, "and these people forbid me to pick my nose??"
[11:32] {Threei}  Romney gets favorable reviews from 48% of all voters, Gingrich 38%, Cain 37%, Just 25% Have Favorable opinion of Rick Perry
[11:32] {Threei}  I am telling you... no one can beat Generic Republican
[11:32] {Threei}  what a shame such creature extinct
[11:33] {thomcbell} aapl
[11:33] {Threei}  Ron Paul is above Perry but not by much
[11:33] {thomcbell} getting a bit of fight
[11:34] {Threei}  too bad.. his economy views are excellent but every time he speaks on foreign policy, word "unelectable" fires up on his forehead
[11:34] {Threei} Short Setup: LVS  45 break
[11:35] {Threei}  US National Highway Traffic Safety Administration (NHTSA) regulators to open investigation into lithium ion batteries used in plug in vehicles
[11:35] {Threei}  - Investigation surrounds crashes and related fire safety following a fire in a GM Volt after a crash test
[11:39] {dino} dds sm l .28
[11:43] {Threei}  LVS is valid
[11:44] {Threei}  off again
[11:46] {thomcbell} lvs 40.01 Vad
[11:46] {thomcbell} fcx
[11:46] {thomcbell} i mean
[11:46] {Threei}  if SPY starts new leg of rally, yes
[11:47] {Threei}  need some tighter consolidation
[11:47] {Threei}  this latest rejection threw it off
[11:47] {dino} alim drop
[11:48] {RonS} $ALIM halted T1 News
[11:48] {patience} good morning
[11:48] {dino} ty
[11:48] {Threei}  patience :)
[11:49] {Threei}  LVS
[11:49] {Threei}  valid again
[11:49] {Threei}  stop above .10
[11:56] {Threei}  nah
[12:14] {thomcbell} klac is solving the world's problems - why doesnt it just buy italy or at least a couple of regions
[12:15] {thomcbell} i mean does this thing really look like this
[12:15] {Threei}  lol
[12:18] {dino} wow brli
[12:21] {dino} dmnd -60 pts in 2 months
[12:22] {RonS} accounting q's...restatement expected
[12:23] {Threei}  sic transit gloria mundi:
[12:23] {Threei}  Sean Quinn, three years ago listed as Ireland�s richest man, has been declared bankrupt in a Northern Ireland court over alleged debts of �2.8bn to the Irish state-owned lender Anglo Irish bank.
[12:23] {Threei}  The 64-year old businessman�s insurance, cement and property empire collapsed last year following a multibillion euro stock market gamble on the share price of Anglo, which was nationalised during Ireland�s banking crisis.
[12:24] {Threei}  isn't it amzing how quickly this can happen
[12:24] {Threei}  one bad bet
[12:26] {Threei}  as old russian saying went, never forswear jail and soup line
[12:33] {Threei}  (EU) ECB's Stark: Expects EMU wide growth in Q4 to be very weak; {b}reiterates ECB will never be the lender of last resort{/b} - Swiss press interview
[12:33] {Threei}  - Weakness dependent on how quickly politicians can deal with their political problems.
[12:33] {Threei}  - No risk that ECB will fail in its price stability mandate.
[12:33] {Threei}  - ECB has maneuvering room on interest rates.
[12:33] {Threei}  - Doubts that a bigger EFSF can help solve structural or political problems.
[12:33] {Threei}  well... if ECB will never be the lender of last resort, it's all over for EU
[12:34] {Threei}  who will if not ECB
[12:34] {Threei}  and it's becoming increasingly obvious that without one, EU can't survive
[12:35] {dino} who would want too
[12:35] {Threei}  only entity able and willing to print
[12:36] {Threei}  there is simply no other way
[12:36] {dino} funny how the euro was going to replace the dollar as reserve two years ago
[12:36] {Threei}  yeah, no kidding
[12:36] {Threei}  I couldn't believe this silly talk back then
[12:36] {Threei}  wonder where all those who pushed that view are now
[12:37] {Threei}  I mean, how can I bend in a way allowing to put the toungue where theirs are now...
[12:37] {Threei}  how can one
[12:37] {dino} begging for jobs
[12:37] {Threei}  (GR) Greece Opposition leader plans elections for Feb 19
[12:38] {Threei}  Obama 43%, Romney 42%
[12:39] {Threei}  doesn't mean much with elections 1 year out... but isn't it indicative of how clueless electorate is?
[12:39] {dino} god help us is obamination gets re-elected
[12:40] {Threei}  seriously, you guys better find that Generic Republican
[12:40] {Threei}  he is your only hope
[12:43] {Threei}  SPY loses .50 and drops, X is likely to lose 26 and give at least a scalp
[12:43] {Threei}  LVS is strangely strong
[12:45] {dino} dds stop-.28
[12:47] {Threei}  what the deuce with LVS
[12:48] {Threei} Short Setup: LVS  .65 break
[12:49] {Threei}  1:1
[13:00] {Threei}  wow
[13:02] {thomcbell} fcx coming back on VAD radar
[13:02] {thomcbell} sneaking up to highs
[13:03] {RonS} dds v sm l 49.60
[13:04] {cipher} got in at .45
[13:05] {cipher} out .76 thx ron
[13:05] {dino} gj
[13:05] {dino} lol alim, thx for the halt
[13:06] {dino} just scewed all lom=ngs no chance to get out
[13:06] {dino} longs
[13:06] {dino} the rationale for halts is idiotic
[13:08] {dino} think about it, you can't get out at 6 but we'll let you at 1, who comes up w/this
[13:12] {Threei}  heh
[13:12] {Threei}  protectinbg us from ourselves
[13:13] {dino} hl l .95
[13:17] {thomcbell} 0.65 on HL?
[13:21] {Threei}  ,
[13:21] {Threei}  dino meant half lot I believe
[13:21] {dino} y
[13:22] {dino} alim half lot l .95 is what i said
[13:22] {thomcbell} gotcha
[13:23] {RonS} here i thought it was hecla...hl
[13:23] {cipher} dds lower
[13:26] {RonS} j h christ dds has 24% short float...got to be a cover rally, no?
[13:27] {cipher} no fill dds l
[13:27] {cipher} tried .28
[13:28] {dino} don't trust it yet, dds, lower low
[13:28] {cipher} just scalping
[13:29] {dino} ok
[13:29] {dino} x breakdown under .00 vad?
[13:29] {Threei}  can't tell
[13:29] {Threei}  it's dancing there for so long
[13:30] {Threei}  needs really determined SPY drop
[13:30] {Threei}  (RU) Russia PM Putin: Uncertain if the IMF and the EFSF have enough resources to handle the EMU crisis
[13:30] {Threei}  - must avoid Italy collapse.
[13:30] {Threei}  - ECB should step in to help finance the EMU bailout; cannot resolve the crisis without ECB.
[13:31] {Threei}  Putin: you gotta be kiddin' me... shoot all speculators, jail all renegades, drown all naysayers - what's the problem, everything's fixed in days
[13:41] {dino} dds sm l .30
[13:54] {RonS} hearing bac merril being blocked from transferring derivatives to a US guaranteed part of the bank...
[13:54] {dino} dds stop -.21
[13:54] {Threei}  Euro vs US Dollar Morgan Stanley analysts recommend shorting of Euro at $1.3750 (timing uncertain)- Also expects GBP will decline against the USD.
[13:54] {Threei}  MS vs GS
[13:54] {RonS} bac saying that it will adversely affect results....bastahds wanting to put more on backs of taxpayers...
[13:55] {Threei}  I don't see it in news
[13:56] {dino} bac is a mess
[13:56] {RonS} from ryan baird...don't know the source...original plan announced weeks ago
[13:57] {patience} .
[13:59] {RonS} 7 SEC employees disciplined on failure to stop Madoff fraud
[14:00] {RonS} ...heard they were threatened w/ sanctions...
[14:00] {RonS} or maybe whipped w/ wet noodles...
[14:01] {RonS} they ought to be in jail w/ bernie
[14:03] {dino} you can have all the regulations you want, but if they don't enforce them, they mean nothing
[14:03] {dino} that imo, is what happened in '08, we don't need more, just need enforcement of the old ones
[14:13] {cipher} dds l .68
[14:15] {RonS} dds l .60
[14:19] {RonS} out dds scratch
[14:20] {dino} brli l .88
[14:21] {RonS} unleashed it for ya cipher
[14:21] {cipher} thx ron
[14:31] {RonS} Abramoff Claims Congress Trades on Inside Information
[14:31] {RonS} ...this is no claim it is fact...they have exempted themselves fro prosecution to do this long ago
[14:32] {dino} they do, they are not subject to that law
[14:32] {dino} and ironically they suck at it
[14:37] {Threei}  rofl
[14:37] {Threei}  so, let me get this straight
[14:37] {Threei}  if they discuss something that is going to impact materially certain company
[14:38] {Threei}  they can legally buy the shares in advance, then make a decision in favor of it?
[14:38] {RonS} or vice versa...yes and it happens all of the time why do you think so many of them become millionaires in office
[14:38] {dino} yes
[14:39] {Threei}  what a racket
[14:39] {dino} yes again
[14:39] {RonS} ...it good to be the king...
[14:39] {dino} they are above the law
[14:52] {dino} out brli +.12
[14:55] {dino} tsla?
[14:57] {dino} dds, hate to see them miss earnings
[15:00] {dino} we rolling over
[15:00] {Threei}  looks like'
[15:01] {Threei}  looking for TZA entry
[15:01] {dino} thinking fcx s w/stop at .01, thoghts vad?
[15:02] {Threei}  looks right
[15:02] {Threei}  need SPY to lose .50 to work
[15:03] {Threei} Long Setup:  TZA  .25
[15:03] {Threei}  if stays above .15
[15:08] {Threei}  partialing out any, dino?
[15:08] {dino} bstop to b/e
[15:09] {RonS} took .20 to .34 thanks 3i
[15:09] {Threei}  1:1
[15:09] {dino} gj
[15:09] {Threei}  half out, stop to .24
[15:09] {Threei}  Ron :)
[15:12] {Threei}  scalpers win
[15:14] {cipher} dds trying
[15:17] {dino} cov +.05
[15:17] {RonS} endless supply of trapped longs...and hisotry of going down for days after these kind
[15:20] {RonS} qotd:  $DDS Market Mullet
[15:28] {dino} zoll spike
[15:30] {RonS} North Carolina Medicaid Issues Favorable Policy on ZOLL LifeVest Wearable Defibrillator
[15:30] {RonS} never knew nc was so influential...
[15:43] {Threei}  EU) IMF's Zhu: Europe must come to its own solution before accepting outside assistance; IMF has plenty of resources at the moment-
[15:43] {Threei}  Happy to see China is willing to help Europe during the crisis; China has made it clear that it will move towards a more flexible currency regime
[15:43] {Threei}  - IMF's Blanchard: Would be beneficial if European banks maintained higher capital ratios.
[15:47] {Threei}  so, what's our consensus at the moment?
[15:48] {Threei}  will thye be able to start printing, or EU breaks up?
[15:48] {dino} be more beneficial to banks if the euro banks did not buy euro debt
[15:48] {dino} nothing like 50% hits
[15:48] {Threei}  but who then?
[15:49] {Threei}  if no one buys it, countires go under
[15:49] {dino} lol
[15:49] {Threei}  they ran out of funding
[15:49] {Threei}  amazing...
[15:49] {Threei}  such an obvious hole, and they kept digging for years
[15:49] {dino} i understand 3i, but those bankers made mistakes buying it
[15:50] {Threei}  even though many warned that it wasn't going to end well
[15:50] {dino} "just say no"
[15:50] {Threei}  just friking let them fail
[15:50] {Threei}  for once
[15:50] {Threei}  endure the pain
[15:50] {Threei}  it will be worth it
[15:54] {dino} so do we fill the open gaps on monday?
[15:54] {Threei}  well, tell me what transoires over the weekend first... :0
[15:54] {Threei}  we are saved or we are breaking up
[15:55] {patience} i say titanic
[15:55] {dino} gut says down monday to fill. no positions, just a hunch
[15:55] {Threei}  overall? or over the weekend?
[15:55] {patience} overall
[15:55] {Threei}  me too
[15:55] {patience} but i am a pessimist right now
[15:55] {Threei}  am not
[15:55] {patience} actually will be for a bit
[15:55] {Threei}  it's a good thing
[15:55] {dino} muddle through until jan, then down hard
[15:56] {Threei}  non-viable structures should fail
[15:56] {dino} agreed
[15:56] {Threei}  it clears up the room for viable ones
[15:56] {dino} they are prolonging the pain
[15:56] {patience} ty vad, time to get outside, it's sunny and blue skies
[15:57] {Threei}  yes... going to
[15:57] {Threei}  beautiful weather
[15:57] {Threei}  thank you all
[15:57] {Threei}  have a great weekend
[15:57] {Threei}  see you on Monday
[15:57] {patience} and the oak leaves are finally falling
[15:57] {patience} but the roses just keep blooming   :)
[16:00] {dino} snowing here
[16:02] {dino} thx all

Nov 10 2011

(Participation in the room in real time requires membership)

Not exactly our day as due to a few rinses we finished slightly in red. One cool play made it Catch of the Day though:

Session Time: Thu Nov 10 00:00:00 2011
[09:04] {Threei}  good morning
[09:05] {swill} :Dmorning
[09:05] {Threei}  stumbled onto rerun of yesterday's debate, piece with Perry forgetting his own program... can it get any more embarassing for a candidate
[09:05] {Threei}  swill :)
[09:05] {Threei}  man, you missed a good day yesterday
[09:06] {swill} hopfully more to come
[09:06] {dino} gm all
[09:06] {Threei}  dino :)
[09:06] {Threei}  sure but with devastating earhquake coming any minute noqw, why miss any of those :)
[09:07] {swill} lol
[09:19] {jakob} good morning
[09:20] {Threei}  jakob :)
[09:20] {Threei}  mised yesterday too?
[09:20] {jakob} yah was out of town
[09:21] {Threei}  OK... I take it you and swill just got together and got drunk
[09:22] {Threei}  which is just fine but why no one invited me...
[09:22] {jakob} I wish.. working all day
[09:22] {Threei}  ugh.. sorry then
[09:23] {Threei}  the rumors swirling in Europe, oy
[09:23] {swill} would it help if I said I missed you
[09:23] {Threei}  well, if nemo was here he would say: next time aim better
[09:24] {swill} lol
[09:26] {RonS} howdy y'all...
[09:26] {Threei}  ron :)
[09:26] {Threei}  FCX wide swing
[09:27] {Threei}  prepare half lot
[09:27] {Threei}  can't tell which way yet
[09:30] {dino} man, we are leaving gaps everywhere
[09:33] {RonS} mpel blood on beat
[09:34] {Threei}  RIMM
[09:34] {Threei}  new 52 week lows
[09:34] {Threei} Long Setup:  FCX  .35 break
[09:34] {Threei}  half lot
[09:35] {Threei}  stop under .25
[09:35] {Threei}  1:1
[09:36] {Threei} Long Setup:  LVS  .80 break
[09:36] {Threei}  if stays above .70
[09:36] {Threei}  hmmm
[09:37] {Threei}  wasn't really obtainable, but back to tgrigger
[09:37] {Threei}  in
[09:37] {dino} gut call, going down
[09:37] {Threei}  target 46.10
[09:37] {Threei}  1:1
[09:37] {Threei}  .75 new stop
[09:39] {Threei}  1:2
[09:39] {Threei}  stop to .79
[09:40] {dino} 07 red
[09:41] {Threei}  target hit
[09:41] {Threei}  out .08
[09:42] {Threei}  (EU) German Bundesbank's Dombret: Monetary financing of euro zone member states is forbidden, would lead to massive lack of trust in the euro
[09:42] {Threei}  - There was no emergency ECB meeting yesterday, there is no meeting scheduled for today either.
[09:42] {Threei}  - Seeing no signs of a credit crunch, German banks are refinancing themselves in the money market without problems.
[09:42] {Threei}  - Capital requirements by German banks may be higher than the so far expected �5.0B
[09:47] {Threei} Long Setup:  FCX  .10 break if stays above 39
[09:47] {Threei}  double bottom play
[09:49] {Threei}  no worky
[09:49] {RonS} mpel l .85
[09:49] {Threei}  rinse?
[09:51] {Threei}  no
[09:51] {Threei}  slw
[09:52] {Threei} Long Setup:  SLW  .80 break
[09:52] {RonS} out mpel scatch
[09:53] {patience} wanoes42
[09:53] {dino} 07 red
[09:53] {Threei}  invalidated
[09:54] {Threei}  ugh FCX
[09:55] {dino} opnt sm l .51
[09:58] {Threei} Long Setup:  FAZ  .50 break
[09:59] {Threei}  if stays above .35
[10:00] {Threei}  stop to .39
[10:00] {dino} ndx filled
[10:01] {Threei}  half out
[10:01] {Threei}  .62
[10:01] {Threei}  1;1
[10:01] {Threei}  stop to .45
[10:01] {dino} pega sm l .20
[10:02] {Threei}  to .49
[10:03] {dino} opnt stop
[10:04] {Threei}  scalpers win
[10:06] {dino} pega stop
[10:09] {Threei} Short Setup: RIMM  .60 break
[10:09] {Threei}  if stays under .70
[10:09] {Threei}  missed FAZ reentry by cents
[10:10] {Threei}  wanted it to dive under 42 briefly, to enter oin recross
[10:10] {Threei}  darn thing held by couple cents
[10:12] {Threei} Long Setup:  LVS  .50 break
[10:12] {Threei}  .35 stop
[10:13] {Threei}  .90 target
[10:14] {Threei}  no worky
[10:15] {Threei}  exchanging jabs
[10:25] {Threei}  well RIMM
[10:25] {Threei}  if you lose .50, there is no bottom in sight
[10:25] {Threei}  so let's
[10:26] {Threei}  1:1
[10:26] {Threei}  needless to say, not a scalp for me
[10:27] {Threei}  stop to .61
[10:30] {Threei}  1:2
[10:30] {dino} gj rimm
[10:30] {Threei}  1/4 more out, stop to .51
[10:30] {Threei}  ty
[10:30] {Threei}  gewtting in green
[10:30] {Threei}  -w
[10:31] {dino} 2298 ndx filled
[10:47] {Threei}  RIIMM nears 1:3
[10:48] {Threei}  not covering there, will try to trail;
[10:49] {dino} mpel l .62
[10:50] {Threei}  1"3, trailing to .45
[10:52] {RonS} opnt sm l .45
[10:55] {dino} hitk l ave .82
[10:56] {Threei}  1:4
[10:57] {dino} pega reload .20
[10:57] {dino} gappy
[10:57] {Threei}  done with RIMM for now
[10:57] {Threei}  1:4 is good enough
[10:58] {dino} gj
[10:58] {Threei}  ty
[11:00] {dino} ipgp sm l .40 break
[11:00] {thomcbell} aapl committed insitutional selling
[11:03] {Threei}  http://goo.gl/UdKSq
[11:05] {dino} pivot 123.85
[11:07] {Threei}  good cover RIMM, eh
[11:21] {dino}  qihu spike
[11:34] {dino} giddy-up
[11:37] {Threei}  lol, bank of america is canceling overdraft fees now
[11:37] {Threei}  what an effective way to protest that mass walkout was
[11:50] {dino} mpel stop -.04
[11:54] {patience} .
[12:03] {Threei} Short Setup: SLW  .65
[12:03] {Threei}  if stays under .75
[12:03] {Threei}  just a scalp most likely
[12:06] {Threei}  (IT) ECB board member Bini Smaghi will step down at the end of 2011, before his term was set to end in May 2013
[12:06] {Threei}  - Reminder: Since Draghi was named to ECB top post, there had been some pressure for Italy to yield a post for nomination by other countries
[12:07] {Threei}  rats are abandoning sinking ship?
[12:09] {thomcbell} what is the setup there on slw
[12:10] {Threei}  non-working one?
[12:10] {Threei}  above .75
[12:10] {Threei}  criss-cross it off your memory as bad nightmare
[12:11] {thomcbell} aapl
[12:11] {thomcbell} underpressure again
[12:33] {Threei}  (US) Fed's Bernanke: Fed tries to help where it can with regards to fiscal decisions; Fed was concerned over budget battle observed in Congress earlier this year
[12:33] {Threei}  - Notes the budget battle in Congress created a lot of problems
[12:33] {Threei}  - Urges Congress to avoid fiscal 'brinkmanship'; debt is a large part of the economic challenges, debt is a part of the reason consumer spending has been weak and has slowed the economy
[12:38] {RonS} mpel l .28
[12:49] {RonS} out .36 +.08 toughie
[12:52] {Threei}  uh oh
[12:52] {Threei}  (FR) ECB's Noyer: Not expecting France to enter a recession
[13:05] {Threei}  (EU) ECB's Praet: Debt market discipline mechanisms have failed
[13:05] {Threei}  no kidding
[13:05] {dino}   lol
[13:12] {Threei}  wow
[13:12] {Threei}  (US) SEC could delay some Dodd Frank rule implementation beyond this year
[13:12] {Threei}  - Rules regarding executive pay ratio disclosure are 'challenging' and may need to be placed on the agenda for next year
[13:12] {Threei}  out of all the crap in that, THIS is what hey have troubles with??
[13:14] {dino} they should kill the entire rule
[13:14] {Threei}  no doubt, but - this is the part that troubles them?
[13:41] {nemo} sheesh...at least I don't have to take a shower for work tonight
[13:41] {Threei}  why?
[13:41] {Threei}  you are naturally that clean?
[13:41] {nemo} raining llamas and camels
[13:41] {Threei}  ah
[13:42] {Threei}  so, no bambie killing today I take it
[13:43] {thomcbell} slw on ur radar here vad?
[13:43] {nemo} nah...  dogs in the house next to where I'm hunting chased them off as they were coming toward the stand
[13:44] {Threei}  I am looking at it now and then thomc
[13:44] {Threei}  just not seeing much
[13:44] {RonS} who let the dogs out?...woof...woof
[13:49] {nemo} grow up
[13:55] {RonS} ...preparing for Les' return...
[13:55] {nemo} that ain't happenin' any time soon
[14:00] {thomcbell} lvs 45.51 long entry VAD?
[14:00] {Threei}  chart is right
[14:00] {Threei}  market support is needed
[14:08] {Threei}  none came
[14:13] {Threei}  in retrospect, .40 break was a short setup
[14:13] {thomcbell} yes was so tight and could make a case for the long or short
[14:23] {RonS} soda blood
[14:30] {thomcbell} fcx looking interesting short
[14:31] {Threei}  .20 break?
[14:34] {Threei}  .30 break would be aggressive entry
[14:34] {thomcbell} yes 0.20 breal
[14:34] {Threei}  counting on .20 as trigger
[14:34] {thomcbell} break
[14:34] {Threei}  and rejection by descending upper line
[14:36] {Threei}  stop .36
[14:36] {Threei}  there
[14:36] {Threei}  half out, to take advantage of aggressive entry
[14:43] {patience} .
[14:44] {thomcbell} fcx out
[14:44] {Threei}  with second half stopped at .31, aggressive entry worked for tbhis one while regular wouldn't work at all
[14:44] {thomcbell} right
[14:45] {Threei}  this is preferred way to play channesl
[14:45] {Threei}  descending in this case
[14:49] {dino} ew drop
[14:51] {cipher} ew nice one thx dino
[14:51] {dino} :)
[14:52] {dino} sfly drop
[14:56] {Threei} Short Setup: SLW  .90 break
[14:56] {dino} sm l .50
[14:57] {Threei}  target about .55
[15:05] {Threei}  no go
[15:07] {dino} out sfly .60, +1.10
[15:07] {RonS} wtg
[15:07] {dino} thx
[15:08] {dino} opps, actually got out .70, +1.20
[15:09] {RonS} ew stange...the article i am reading on heart valve study seems positive
[15:09] {dino} same thought here
[15:11] {RonS} http://tinyurl.com/cmqp39v
[15:17] {RonS} qotd...$EW definitely news...Sapien Heart Valve Study Shows Widening Survival...guess that's bad news?
[15:25] {Threei}  not really delighted by today
[15:25] {dino} nor i
[15:25] {Threei}  feels very random
[15:25] {Threei}  win some lose some
[15:26] {dino} struggled, first down day in last 8
[15:26] {Threei}  slightly down here too
[15:41] {Threei}  Portugal the 10yr is at 12.5%, the 5yr at 14.4%, and the 2yr at nearly 17%
[15:42] {RonS} ...time to invade brazil again...
[15:44] {Threei}  lol
[15:45] {RonS} funny how europeans were some of the most ferocious people on the planet for a 1000 years...and now pc and socialism has made them into wimps
[15:46] {Threei}  sorry to say, but we are not very far behind...
[15:46] {Threei}  aalthough if there is slimmer of hope anywhere on the planet, I'd look for it here
[15:50] {Threei}  no clear direction into close
[15:50] {Threei}  dropping it
[15:51] {Threei}  thank you all, let's have a relaxing evening
[15:51] {Threei}  see you in ther morning
[15:51] {patience} ty vad

Nemo's midweek findings for 11/9

(Participation in the room in real time requires membership)

Midweek update.  Hope it's helpful

Nov 09 2011

(Participation in the room in real time requires membership)

Very nice day, with only regret being about one of trades that moved to 1:12 after we exited for 1:3... oh well. Here it is:

...and then:

and then even more. OK, one more thing for you to have in mind, possibly forming on daily:

Session Time: Wed Nov 09 00:00:00 2011

[08:43] {Threei}  wow
[08:44] {Threei}  (EU) Hearing vague chatter of an emergency ECB meeting (update)
[08:45] {Threei}  - European shares dropped in today's session due to alarmingly high Italian yields
[08:45] {Threei}  Have Market Intel? TradeTheNews.com Tip Line -} Click Here
[08:45] {Threei}  huh... as if it wasn't obvious that they were rising like crazy
[08:46] {Threei}  next phrase is golden:
[08:46] {Threei}  News that Italian PM Berlusconi will resign after failing to obtain the majority in yesterday's vote was welcomed by bourses worldwide. But as the wind of change is felt throughout Europe, investors realize that the next successor of Berlusconi or Papandreou may still not be able to solve the domestic fiscal situation.
[08:46] {Threei}  what, people really thought it was just a problem with one particular PM?
[08:46] {Threei}  change him and we a-okay?
[09:12] {dino} gm all
[09:12] {Threei}  dino :)
[09:14] {RonS} good morning everyone...Italian-German 10-year bond spread is now at 551-bps. Portugal, Ireland and Greece all asked for help after their spread went over 500-bps.
[09:14] {Threei}  http://goo.gl/9pPf3
[09:14] {Threei}  ron :)
[09:17] {RonS} man bites dog?...Volcker Calls Volcker Rule Too Complicated
[09:17] {Threei}  rofl
[09:23] {RonS} wow...soda has 46% float short
[09:25] {dino}  wtw
[09:25] {Threei}  WTW was a moonshot after earnings yesterday
[09:25] {Threei}  not so much today
[09:27] {nemo} oy vay
[09:28] {Threei}  right
[09:28] {dino} saw that
[09:28] {Threei}  great surprise nemo...
[09:28] {nemo} saw what?
[09:28] {dino} may e a long today at some point
[09:28] {dino} be
[09:28] {Threei}  Italy is blowing up
[09:28] {ese} morning all........just popping in to say hi and am outta here...will not be around tomorrow either with remembrance day ceremonies .......have a couple of great trading days and we'll see you monday
[09:28] {Threei}  no one suspected that just yesterday
[09:28] {dino} wtw nemo
[09:28] {nemo} Yeah...got a call from the relatives
[09:28] {Threei}  hi ese
[09:28] {dino} cya ese
[09:28] {ese} take care all......smokin busy days here
[09:29] {Threei}  take care ese
[09:29] {Threei}  OK guys
[09:29] {Threei}  let's skip first minutes
[09:29] {Threei}  no need to be ahero
[09:29] {Threei}  looking for short entries oln usual suspects
[09:29] {ese} will have some interesting news for you possibly next week though about my high school rhythm and blues band
[09:29] {nemo} there are old pilots...
[09:29] {Threei}  right
[09:29] {ese} cya
[09:30] {RonS} cya ese...good to cya nemo
[09:30] {nemo} thought I'd pass through
[09:30] {dino} same
[09:30] {dino} take care nemo
[09:31] {nemo} yeah, been copying charts for updates, amazing on spy and iwm, they just keep inflecting at mapped levels.  If only I had an account...
[09:31] {nemo} btw....iwm at a price level I mapped and SPY at s2 daily
[09:31] {dino} 11657, 2298, 1218 gaps below
[09:32] {Threei} Short Setup: FXCX  .40 break
[09:32] {Threei}  FCX
[09:32] {Threei}  invalidated
[09:34] {Threei} Short Setup: SLW  .80 break
[09:34] {Threei}  if stays under .90
[09:34] {Threei}  uhhu
[09:34] {Threei}  lol
[09:35] {nemo} here's IWM SPY for today:  http://www.freestockcharts.com?emailChartID=25c4ac69-9f1a-40fb-aaf0-4922d8df3ea1
[09:36] {Threei} Short Setup: FCX  .60 break
[09:37] {Threei}  if stays under .70
[09:37] {Threei}  valid
[09:38] {Threei}  .72 stop
[09:38] {Threei}  no go
[09:41] {Threei} Long Setup:  LVS  .35 break
[09:41] {Threei}  invalidated
[09:42] {dino} vsm l wtw .35 gappy risky
[09:43] {Threei}  ugh
[09:43] {Threei}  .20 on LVS was nice trigger, cangaroo tail
[09:44] {Threei}  let's see may be pullback gives entry
[09:44] {Threei}  no
[09:44] {Threei}  a bit too hectic, no patterns
[09:46] {Threei} Short Setup: SLW  .40 break
[09:46] {RonS} FLASH: Margin Requirements Raised on Italian Bonds
[09:47] {Threei}  stop above .50
[09:47] {Threei}  target 1:4
[09:48] {Threei}  1:1
[09:48] {Threei}  stop to .45 for the balance
[09:48] {dino} rovi vsm l .50 wide/risky
[09:49] {dino} out .05, +.55
[09:49] {Threei}  wtg
[09:49] {dino} ty
[09:50] {Threei}  scalpers win
[09:50] {pragmatic} ty
[09:50] {Threei}  lemme guess... scalper?
06[09:50] * pragmatic :)
[09:50] {Threei} Short Setup: FCX  .35 break
[09:51] {Threei}  stop above .45
[09:52] {Threei}  OK, this one surely must capable of more than scalp
[09:53] {Threei}  if works at all of course
[09:53] {Threei}  but it looks to me like 40 and below
[09:54] {Threei}  and market overall feels to me like panic coming
[09:54] {Threei}  where is larisa btw
[09:54] {Threei}  1:1
[09:54] {Threei}  she would kill me for using that word
[09:55] {Threei}  1:2
[09:55] {Threei}  stop to .31 for the balance
[09:56] {Threei}  closed
[09:57] {pragmatic} cangaroo tail?
[09:57] {Threei}  kind of... somewhat ugly cangaroo
[09:57] {nemo} know alot of kangaroos do ya?
[09:58] {Threei}  must admit, not so much
[09:58] {nemo} I'm partial to the Big Reds myself
[09:58] {Threei}  rare animal in my neck of the woods
[09:58] {pragmatic} they... jump..sometimes :)
[10:02] {dino} adbe smr l .91
[10:11] {patience} good morning
[10:11] {Threei}  patience :)
[10:15] {dino} out wtw .45, +1.10
[10:16] {dino} nxpi sm l .80
[10:16] {patience} very nice dino
[10:16] {dino} thx patience
[10:21] {dino} hos smr l .95
[10:28] {Threei}  http://goo.gl/ZdN4P
[10:36] {dino} lod
[10:39] {Threei}  (IT) Germany Fin Min Schaeuble: Not concerned about spreads in Italy debt; are similar to pre Euro period- Calls on Italy to accept EFSF assistance if deemed necessary
[10:39] {Threei}  lol
[10:39] {dino} start the printing presses
[10:41] {Threei}  no
[10:41] {Threei}  not going to happen in EU
[10:41] {Threei}  they have no structure for it
[10:42] {Threei}  rthey are done, out a fork in them
[10:42] {Threei}  put
[10:43] {Threei}  (IT) Italy Pres: emergency measures could be put in place at any time if needed
[10:43] {Threei}  - Napolitano says the austerity bill will be passed within days; a new Govt can be formed quickly, not expecting a prolonged political battle.
[10:44] {Threei}  I can see this already
[10:44] {Threei}  they pass it
[10:44] {Threei}  market sighs with relief
[10:44] {Threei}  stocks rally (or gap up)
[10:44] {Threei}  bonds shrug and continue rising
[10:44] {Threei}  yeilds that is
[10:44] {dino} yes
[10:44] {Threei}  in a few days realization hits again:
[10:44] {Threei}  there is nothing they can do
[10:45] {Threei}  rearranging chairs on the Titanic deck
[10:45] {dino} there are two options, 1) to increase the amount of euros, or 2) default
[10:46] {Threei}  they have no easy way for 1
[10:46] {Threei}  their structure doesn't allow it without huge remaking
[10:46] {dino} i believe default will happen, but not until they try tp inflate it away
[10:47] {Threei}  and that remaking is politically almost impossible
[10:47] {patience} i agree dino
[10:47] {dino} the structure can be changed, they are changing everything right now
[10:47] {Threei}  as it requires sovereign countries to give up their sovereignity
[10:47] {Threei}  no dino... not this
[10:47] {Threei}  it's too big
[10:47] {patience} they need some time for those with wealth to move it out
[10:47] {Threei}  they will try of course
[10:47] {Threei}  but they won't succeed
[10:48] {dino} perhaps, but never underestimate the welfare state, they do not want austerity
[10:48] {Threei}  "You can avoid reality, but you cannot avoid the consequences of avoiding reality."
[10:49] {dino} in the end it all comes down to germany. if they say "f 'em", the jig is up
[10:49] {Threei}  well, even if they don't...
[10:50] {Threei}  even Germany is not big enough to bail whole EU
[10:50] {Threei}  not even speaking of lack of political will to do so
[10:50] {dino} good point patience, on time to move
[10:50] {Threei}  and hoi poloi taking on the streets
[10:50] {dino} out hos +.30
[10:51] {dino} 3i, you miss one thing, by inflating the money supply, germany does not have to be big enough
[10:52] {Threei}  I don'tr... I cover it in "lack of political will" line :)
[10:52] {Threei}  the problem is in sovereignity - factor we don't have here in US
[10:52] {dino} either way, we agree on one thing, in the end it's over for the euro
[10:52] {Threei}  oh yes
[10:53] {dino} just a matter of time, next month or next 18 months
[10:53] {Threei}  impossibkle to say, really.. buit my eperience with observing USSR collapse makes me think,. it will happen much sooner than anyone expects
[10:53] {patience} just finished reading  http://www.amazon.com/When-money-dies-nightmare-collapse/dp/0718302141   some interesting similarities although i don't see hyper inflation for us
[10:54] {dino} i read that in sept. patience, a very good book
[10:55] {patience} i thought so
[10:55] {dino} imo, the europe will keep the hyper inflation away from usa
[10:55] {Threei}  can I borrow your copy?
[10:56] {Threei}  my view too dino
[10:56] {patience} pdf available on the web
[10:56] {Threei}  USD is about to become in high demand
[10:56] {dino} yes
[10:57] {nemo} break up of the euro will put $, yen, and maybe remnimbi in demand
[10:59] {nemo} mmmhhh....if $ in much greater demand, exports become a problem, gives Bernanke room to print more money
[11:01] {dino} reverse that nemo, us companies will go on a buying binge
[11:01] {nemo} that's true, they could if legislators don't confiscate there money
[11:01] {nemo} may you live in interesting times
[11:01] {dino} lol, i believe we are
[11:01] {nemo} so, politically, it may be smarter to print money
[11:02] {nemo} economically, it may be smarter to let us take over the world again
[11:02] {nemo} I'll go with the former
[11:02] {dino} "in the middle of difficulty, lies opportunity"
[11:02] {nemo} Politicians always backdoor the dog
[11:02] {RonS} lol
[11:02] {nemo} you know what the chinese character for trouble and turmoil is?
[11:02] {nemo} two women under the same roof
[11:03] {RonS} amos & andy
[11:03] {patience} opportunity
[11:03] {dino} poli tics= many bloodsuckers
[11:03] {Threei}  lol
[11:03] {Threei} Long Setup:  FCX  .55 break
[11:04] {Threei}  if hiolding above .45
[11:04] {Threei}  target .80
[11:04] {nemo} nice vwap at .48 s2 support at .43
[11:08] {Threei}  1:1
[11:10] {RonS} +.12  thanks 3i
[11:10] {Threei}  :)
[11:15] {dino} nemo, on the vwap charts are you using "today" or "1d"?
[11:18] {nemo} freestockcharts only has one setting.  I don't know what it's using.  It uses market open data only though
[11:18] {dino} mine has 10, on bottom of chart
[11:19] {nemo} FSC or your software?
[11:20] {dino} fsc
[11:20] {Threei}  target hit
[11:20] {Threei}  out FCX
[11:20] {Threei}  boy, am I good or what
[11:20] {dino} gj
[11:20] {dino} adbe to .21
[11:20] {Threei}  oops... dislocated my shoulder patting myself on the back
[11:20] {nemo} go ahea, tempt the trading gods
[11:20] {Threei}  hehe
[11:22] {dino} to .33
[11:22] {dino} out adbe .33, +.42
[11:22] {Threei}  wtg
[11:23] {dino} ty
[11:24] {dino} nxpi dog, stop is .68, brb
[11:31] {Threei} Short Setup: LVS  47 break
[11:31] {Threei}  if stays under .10
[11:36] {Threei}  no go
[11:48] {Threei}  look SPY daily
[11:48] {Threei}  possibly double top forming
[11:48] {Threei}  first top 10/27-28
[11:48] {Threei}  second yesterday
[11:49] {Threei}  loss of 121.50 is confirmation
[11:49] {Threei}  let me grab a screenshot to illustrarte
[11:55] {Threei}  http://goo.gl/yeXH6
[11:55] {Threei}  nemo, interesting how those levels correcpond with your pivots
[11:57] {dino} nxpi to flat
[12:14] {dino}  markets have stopped moving
[12:15] {Threei}  I can relate
[12:15] {Threei}  I am doing my share to fight enthropy too, by moving as little as possible
[12:15] {Threei}  Milton Friedman, 1997:
[12:16] {Threei}  euro would make conflict more, not less, likely.
[12:16] {Threei}  The continent's many borders and diverse cultures make a single currency unit unfeasible, as Europeans are more dependent on their own country rather than the ``common market or the idea of ``Europe.'' The introduction of the euro would turn economic shocks into political conflict, Friedman said.
[12:16] {nemo} I remember having this conversation in grad school back in the 80's just took a little longer
[12:17] {Threei}  which? about enthropy?
[12:17] {nemo} euro and on those pivot retracement coincidences, yeah, all the time
[12:18] {nemo} we're basically at the weekly pivot area...funny how that works
[12:25] {dino} out nxpi .90, +.10
[12:26] {Threei}  - Fear is intensifying this morning as the euro zone's worst nightmare appears to be coming true: contagion is overtaking Italy. The yield on 10-year Italian government debt are surging to almost 7.5%
[12:26] {Threei}  duh
[12:27] {dino} feels like a re-test of lows in the making
[12:32] {Threei} Short Setup: FCX  .10 break
[12:32] {Threei}  if stays under .20
[12:46] {Threei}  let's trail to .16
[12:47] {dino} gj
[12:47] {Threei}  not yet
[12:47] {dino} opps, wrong stock
[12:47] {Threei}  just tightening risk
[12:52] {RonS} for nemo...FINRA Allowed Corzine to Practice Without Series 7, 24 Licenses
[12:52] {nemo} huh?
[12:54] {RonS} FLASH: Italian 10 Yr Yields Are Coming In
[12:54] {RonS} Now at 7.06%, down from 7.6%. It appears there is some intervention underway
[12:55] {Threei}  so someone is buying them to relieve the pressure?
[12:55] {Threei}  can you say another MF in the making?
[12:57] {dino} thinking govts
[12:57] {Threei}  well, idiots never learn
[12:57] {Threei}  actually, that's what makes them idiots
[12:58] {RonS} lol...juncker says there will never be a euro without portugal
[12:58] {RonS} everyone knows it is the center of the universe after all...
[12:58] {Threei}  lookie here
[12:59] {Threei}  (EU) French and German leaders are said to be having preliminary discussions for a radical overhaul of the euro zone - financial press
[12:59] {Threei}  - The preliminiary discussions are at an "intellectual" level that have not progressed to any kind of technical plans.
[12:59] {Threei}  - The plans envision a "core" euro zone with more economic integration, with the possibility that one or more members would depart from the EMU.
[13:01] {Threei}  I like this "intellectual" level
[13:03] {dino} hos l .95
[13:10] {Threei}  1:1
[13:11] {dino}  gj
[13:11] {Threei}  ty
[13:13] {Threei}  1:2
[13:14] {Threei}  1:3, over and out
[13:14] {thomcbell} Nice Vad
[13:15] {Threei}  really need to watch thaty shoulder that I am about to dislocate once again
[13:18] {Threei}  1:4
[13:18] {Threei}  http://goo.gl/ZhgAf
[13:19] {dino} hos stop
[13:20] {Threei}  btw, about all those charts
[13:20] {Threei}  new course is moving forward very fast
[13:21] {Threei}  after replacing my computer with the one I assembled myself, I ran out of excuses to put it off any longer
[13:21] {Threei}  if I maintain the pace of this week, it should be finalized within a month
[13:21] {Threei}  as planned, two parts
[13:22] {Threei}  first is over 100 charts broken down by tyypical setups, woith explanation of each trade
[13:22] {RonS} Italian vote on austerity delayed to Friday
[13:22] {Threei}  second is videos whewre a viewer is presented with chart with no annotations, then with those, to train visual oatern recognition
[13:24] {Threei}  Christmas tree tax on TV
[13:25] {RonS} .15 per tree to fund christman tree promotion...unreal
[13:26] {patience} .
[13:26] {Threei}  not to put too fine point on it... but what's your point?
[13:27] {patience} :)
[13:33] {nemo} o.k. off to try and kill bambi's relatives...awful warm up here though
[13:34] {thomcbell} very strange action in miners
[13:35] {thomcbell} abx strong nem weak slw strong most of day
[13:35] {thomcbell} rgld all over the place
[13:35] {nemo} slw isn't really a miner
[13:35] {nemo} they buy up production I believe
[13:35] {thomcbell} yes they buy silver rights
[13:35] {thomcbell} from other producers
[13:36] {nemo} so they are likely to act differently from miners, they don't bear the operational costs
[13:36] {thomcbell} yy
[13:39] {Threei}  wow FCX
[13:39] {Threei}  still dropping
[13:40] {Threei}  that's 1:8
[13:42] {thomcbell} almost aq rinse
[13:42] {thomcbell} big volume spike a few bars ago on 5 min
[13:55] {Threei}  1:12
[13:57] {Threei}  (IT) Fitch comments on Italy insurance industry exposure to sovereign debt- Fitch: Contrary to what many commentators are predicting, Italian insurers may not be able to pass on most of the losses incurred from an unlikely default of Italian government debt.
[13:57] {Threei}  - Based on our 'A+'/Negative rating of Italian sovereign debt, Fitch believes that Italian government bonds are a low default risk. However, in the extreme scenario of a sovereign default, the ability of insurers to pass losses on to policyholders would be significantly impaired, as the return on customer portfolios may be below the minimum promised to policyholders. Insurers would be liable for the additional losses
[13:57] {Threei}  (IT) Reports that businesses and banking institutions are now requesting an immediate emergency Government - financial pres
[13:57] {Threei}  s- Request budget legislation be approved quickly
[13:59] {thomcbell} there;s the real volume spike fcx
[13:59] {thomcbell} jesus
[13:59] {thomcbell} 13:1 Vad
[14:00] {Threei}  scalper regret kicks in big time
[14:01] {dino}  ipgp sm l .14
[14:06] {patience} remember those days of 800 point swings, i see them coming again
[14:08] {dino} gaps 11657, 2298, 1218
[14:12] {dino} gaps 11657, 2298, 1218
[14:12] {dino} nihd sm l .71
[14:30] {Threei}  http://goo.gl/n2aZW
[14:36] {dino}  smr l rovi .01
[14:53] {Threei}  (EU) EU's Barroso: Dividing Europe into Core and Periphey will not work; Germany's GDP may contract up to 3% and lose as many as 1M jobs if there is an EU split
[14:53] {Threei}  - Would like to see more integration.
[14:53] {Threei}  - Cannot go futher within current treaty
[14:53] {Threei}  - NOTE: Earlier today: (EU) French and German leaders are said to be having preliminary discussions for a radical overhaul of the euro zone - financial press
[15:02] {dino} rovi stop -.11
[15:07] {dino} and rinsed
[15:19] {dino}  gld droppping
[15:19] {dino} silver too
[15:21] {dino} out ipgp .44, +.30
[15:29] {Threei}  can't tell how it's going to end
[15:29] {Threei}  feels like down but kind of 51/49
[15:32] {dino} think we get a good news bounce
[15:32] {Threei}  today?
[15:32] {Threei}  what news/
[15:32] {dino} a beer bet perhaps, close {-300
[15:33] {dino} any idiot euro politician talking
[15:37] {Threei}  feels like they are out of talking points, lol
[15:37] {RonS} hearing berlusconi having a post austerity vote/resignation party
[15:37] {RonS} 2000 initetees
[15:37] {RonS} nivite
[15:37] {RonS} invite
[15:38] {dino} on the taxpayers of course
[15:38] {RonS} says austerity is for the little people...
[15:38] {RonS} ...joke...
[15:38] {dino} man, you get me every day
[15:38] {RonS} u asked for it...
[15:38] {RonS} :D
[15:39] {dino} fool me once...
[15:42] {RonS} gs murdered today
[15:44] {dino} looks like 3i is going to be right'
[15:44] {Threei}  again...
[15:45] {Threei}  irritating
[15:45] {Threei}  don't tell my wife
[15:45] {RonS} or larisa
[15:45] {Threei}  if I am right about anything couple more times, she will suffocate me in my sleep
[15:50] {Threei}  ok guys, no more trades
[15:51] {Threei}  this ship goes down, IMO
[15:51] {Threei}  thank you all, have a great evening, see you tomorrow
[15:52] {dino} rovi lod
[15:52] {dino} cya vad

Nov 08 2011

(Participation in the room in real time requires membership)

Boring but nicely profitable day. A few trades worked for cool 1:3, plus couple scalps here and there. Not much action though. So, in case you missed it, read this article I've written while waiting for another play to come along (which it did).


Session Time: Tue Nov 08 00:00:00 2011
[08:32] {Threei}  good morning
[08:32] {Threei}  I hate time change
[08:33] {patience} me too
[08:35] {Threei}  any chance we could enciurage OWS vrowd to take on this issue? Before they dissolve for the winter would be nice of tghem to solve something useful
[08:58] {dino} gm all
[08:59] {Threei}  dino :)
[08:59] {swill} :)morning
[08:59] {Threei}  swill :)
[09:00] {swill} Vad, could you please remind me of what type one is?
[09:01] {Threei}  ?
[09:01] {Threei}  sorry, don't understand
[09:01] {swill} is it a full lot for a scalp?
[09:02] {Threei}  oh, scalp type 1
[09:02] {swill} y
[09:02] {Threei}  big shares, small movements
[09:02] {Threei}  ese's favorite...
[09:02] {swill} thank you sir
[09:02] {Threei}  grab 3-5K shares for 5 cents
[09:02] {swill} ah
[09:02] {Threei}  get out with a few hundred bucks
[09:03] {swill} I like
[09:03] {Threei}  forget all about it in a few seconds
[09:03] {Threei}  works only on stocks with high liquidity
[09:03] {Threei}  never ever try anything like this on stocks with wider spreads and smaller sizes shown on level 2
[09:04] {swill} got cha
[09:15] {Threei}  TM... tough quarter
[09:19] {Threei}  so far, morning shapes up as complacent "let's buy things, it'll be OK"
[09:20] {Threei}  ese will be happy with SLW he took home
[09:20] {dino}   that dog
[09:20] {Threei}  we can always try and get patience throw rocks at his windows...
[09:22] {patience} yup, that's how i make friends
[09:22] {jakob} good morning
[09:22] {Threei}  jakob :)
[09:22] {ese} gm
[09:22] {RonS} hello all
[09:22] {Threei}  ese, ron :)
[09:22] {Threei}  we won't tell him it was you, patience
[09:22] {Threei}  just enjoy that satisfying sound of glass breaking
[09:23] {Threei}  oh, hi ese
[09:23] {ese} I am indeed happy with slw this morning
[09:23] {patience} me too   :)
[09:23] {Threei}  thought so :)
[09:23] {Threei}  fess up, how mcuh are you up on SLW
[09:24] {Threei}  in cents, not in real money :)
[09:25] {dino} gaps above 12231, 2401, 1285
[09:25] {ese} bought 3 3/4 lots yesterday averaged out at .65
[09:25] {Threei}  about 70 cents then... on big shares
[09:25] {Threei}  nice
[09:26] {ese} yup
[09:26] {Threei}  wtg
[09:26] {Threei}  don't forget to deposit my % in my mailbox when driving by
[09:27] {ese} will do chief
[09:28] {Threei}  reminder, any FCX call during first 15 min or so is half lot
[09:29] {Threei}  (GE) IIF Chief Economist: Germany needs to accept "collectivization" of resources if the euro zone is to survive- Believes it is possible that Germany will "blink last," causing the collapse of the euro zone.
[09:30] {RonS} Italian borrowing costs touch a new record high
[09:30] {ese} out 2/3 slw .22
[09:30] {ese} +.57
[09:30] {dino} gj
[09:31] {thomcbell} LVS RED
[09:31] {Threei} Short Setup: RIMM  .65 break
[09:31] {Threei}  if stays under .75
[09:34] {Threei} Short Setup: FCX  .70 break
[09:34] {Threei}  if stays under .80
[09:34] {Threei}  target 1:3
[09:35] {Threei}  unless you are a scalper in which case you couldn't give a sneeze about my targets
[09:35] {Threei}  1:1
[09:35] {Threei}  half out .56
[09:35] {ese} out balance slw .26 +.61
[09:35] {Threei}  1:2
[09:36] {ese} whoa....just in time too
[09:36] {dino} gj fcx
[09:36] {Threei}  stop .61
[09:36] {Threei}  tightening
[09:36] {Threei}  RIMM invalidated
[09:37] {Threei}  to .51
[09:37] {Threei}  oh whatever
[09:37] {Threei}  out .44
[09:37] {Threei}  why do fight for last couple cents
[09:38] {Threei} Short Setup: LVS  .95 break
[09:38] {Threei}  if stays under .05
[09:39] {Threei}  invalidated
[09:40] {Threei} Short Setup: TM  64 break small shares
[09:40] {Threei}  if stays under .20
[09:41] {pragmatic} tm ?
[09:41] {pragmatic} ah ok
[09:41] {Threei}  ?
[09:43] {Threei} Long Setup:  SLW  37 break
[09:43] {Threei}  that was frakishly fast
[09:43] {Threei}  1:1
[09:43] {Threei}  TM no go
[09:45] {Threei}  1:3
[09:50] {dino} dish s .00
[09:50] {Threei}  something to have in mind:
[09:50] {Threei}  (IT) Italy Parliament resumes debate on Budget bill- Vote expected now around 11:00 ET (16:00 GMT)
[09:52] {RonS} xide sm l .15
[09:52] {dino} cov .93, +.07
[09:52] {Threei} Short Setup: RIMM  .90 break
[09:52] {Threei}  if stays under .95 for scalpers, 19 day traders
[09:53] {Threei}  invalidated
[09:54] {Threei} Long Setup:  LLY  .45 break
[09:54] {Threei}  if stays above .35
[09:55] {Threei} Long Setup:  BHP  .90 break half lot
[09:55] {Threei}  if stays above .75
[09:57] {Threei}  80 break should send it flying
[09:58] {Threei}  let's trail to under .80 meanwhile
[09:59] {Threei}  LLY 1:1
[09:59] {Threei}  BHP 1:1
[10:05] {Threei}  RF interesting chart, just not my cup of tea
[10:05] {dino} out bhp +.07, out lly +.16
[10:05] {dino} ty
[10:05] {Threei}  :)
[10:06] {Threei}  notice something guys
[10:06] {Threei}  a lot of small stocks are running
[10:06] {Threei}  not really a good sign for the bull market
[10:07] {thomcbell} very nice VAD - LLY
[10:08] {Threei}  over 1:2
[10:08] {Threei}  easy money, never even tried to pull back
[10:08] {Threei}  just as we like'em
[10:09] {thomcbell} chart really shapes up on daily time frame
[10:10] {dino} break of s1
[10:10] {Threei}  another interesting cheapie, SMT
[10:10] {thomcbell} lvs nasty
[10:10] {thomcbell} slw short VAD?
[10:11] {dino} 07 red
[10:11] {Threei}  need bounce or consolidation, thimc
[10:11] {Threei}  not shorting into such drop
[10:12] {Threei}  *(IT) ITALY PM BERLUSCONI WINS BUDGET VOTE
[10:13] {thomcbell} lly a beast VAD
[10:13] {Threei}  1:3... me out
[10:14] {thomcbell} big settlement this thing might have room
[10:15] {Threei}  be thankful nemo is not here... what you just did is called "thinking"... and a mortal sin in his book
[10:16] {dino} was that fundamental talk tbell? not allowed
[10:16] {dino} :D
[10:16] {Threei}  really... next thing we know someone starts ready... financial statements... gasp
[10:16] {Threei}  reading
[10:22] {dino} stx l .70
[10:24] {RonS} careful dino...report competing thai plants coming bck on line faster than prev thought
[10:24] {dino} ty
[10:26] {dino} stop -.08
[10:28] {RonS} amln sm l .40
[10:30] {dino} stx rinsed
[10:33] {RonS} ha, exdi fundamental...5.66/book per sh
[10:33] {RonS} guess its a bank...
[10:34] {RonS} out amln -.15
[10:35] {Threei}  (IT) Rumors of LCH.Clearnet margin hike on Italian debt continue to circulate after Parliamentary vote shows Berlusconi no longer has majority suppor
[10:35] {Threei}  t**REMINDER from overnight: (IT) FT comments on recent concerns that margin calls could be raised for Italian bonds. Says that LCH Clearnet generally raises margin requirements when the spread over a triple A basket (which includes French bonds) exceeds 450bps. On Monday's session, the spread between the Italian 10-yr bond and the triple A basket was about 420bps.
[10:36] {dino} ctrp sm l .01
[10:36] {dino} nihd sm l .39
[10:37] {dino} nxpi l .82
[10:41] {dino} keyn sm l .00, gappy
[10:46] {Threei}  lol, funniest quote of the day
[10:46] {Threei}  maybe ECB is using drachmas to buy Italian bonds
[10:47] {Threei}  ok... maybe I need to look up "funny"...
[10:48] {Threei}  nope... still funny... something must be wrong with me
[10:51] {dino} nxpi stop -.08
[10:54] {dino} ctrp stop -.13
[10:55] {Threei}  (GR) Greece Central bank reports Sept bank emergency liquidity assistance: �26.6B v �6.4B m/m
[10:55] {dino} rinsed again
[10:57] {Threei}  (IT) Italy Defense Minister La Russa: Options on a way forward for the Govt will be decided within the next few hours: PM Berlusconi must consult with the President after today's vote
[11:13] {Threei} Short Setup: RIMM  .60 break
[11:13] {Threei}  if stays under .70
[11:18] {thomcbell} LVS 46.88 short Vad?
[11:19] {Threei}  wow... long way from there
[11:19] {Threei}  impossible to say without knowing how it gets there
[11:20] {Threei}  if it drops to that support in one long bar with big volume, would you short it?
[11:20] {Threei}  vs it coming to that support slowly, then consolidating close to it and only then breaking?
[11:20] {Threei}  see what I mean?
[11:22] {Threei}  LOL... Those who believe in telekinetics, raise my hand
[11:22] {thomcbell} yes
[11:22] {Threei}  in that formation, I'd rather go for aggressive entry
[11:23] {Threei}  like 47.05 break
[11:23] {Threei}  that would work nicely
[11:25] {patience} .
[11:26] {Threei}  let's trail RIMM to .66
[11:26] {Threei}  my confidence in this setup diminishes rapidly
[11:27] {dino}   i'm out
[11:27] {dino} nvda l .74
[11:28] {Threei}  sure enough, LVS tunred a trap
[11:28] {dino} wtw heavy
[11:29] {Threei}  well
[11:29] {Threei}  lol
[11:29] {Threei}  meaning, they are not doing very good job
[11:29] {dino} sm l .84
[11:30] {RonS} nxpi sm l .62
[11:33] {dino} out wtw .44, +.60
[11:34] {RonS} gj
[11:35] {RonS} wac sm l .05
[11:36] {dino} gj wac
[11:44] {Threei}  things are frozen
[11:47] {dino} hitk sm l .02
[11:56] {dino}  fcx strong last couple days
[11:57] {Threei}  (IT) Italy opposition parties are said to be preparing a vote on a motion of no confidence, as expected, if PM Berlusconi refuses to step down - financial press
[11:57] {Threei}  neverending saga
[11:58] {Threei}  don't give up Berlusconi... fight for your right to throw bunga bunga parties
[11:58] {Threei}  it's unalienable human right of any PM
[12:01] {RonS} ...and sanctioned by the almighty when you invite the pope
[12:01] {Threei}  I guess
[12:04] {dino} syna drop
[12:04] {dino} too fast
[12:05] {ese} was fun watchin....catch ya tomorrow
[12:05] {RonS} out xide .135  +.04 ave  ese size but too thick now...
[12:05] {RonS} got no news
[12:05] {RonS} cya ese
[12:05] {Threei}  take care ese
[12:08] {dino} cya ese
[12:09] {RonS} out nvda .88 +.11  tough little bastard...
[12:11] {dino} yeah, still in here, gj
[12:19] {dino} slw l .01
[12:19] {thomcbell} cup and handle lly?
[12:20] {Threei}  even cup with two handles
[12:20] {Threei}  11:50 is not a beginning of a handle, it's a beginning of a handl;e to the bigger cup
[12:21] {Threei}  then another started at about 12:10 :)
[12:21] {Threei}  sorry, correction:
[12:21] {thomcbell} tu
[12:21] {Threei}  11:50 is not a beginning of a cup, it's a beginning of a handle to the bigger cup
[12:44] {dino}   out keyn .40, +.40
[12:44] {Threei}  while market is sleeping..
[12:45] {Threei}  http://blog.realitytrader.com/2011/11/simplicity-why-dont-we-appreciate-it.html
[12:45] {RonS} gj
[13:02] {Threei}  OK, you can wake up and tell me whether that article rings any truth
[13:04] {swill} I'll gladly agree
[13:04] {Threei}  ty
[13:05] {swill} the truth will out
[13:05] {Threei}  which reminds me...
[13:05] {Threei}  we were told only half of it. Yeah, truth will set you free - but it will piss you off first
[13:06] {swill} true again
[13:07] {dino} out slw .14, +.13
[13:08] {RonS} gj lone ranger...
[13:09] {dino} lol
[13:10] {RonS} 'supposed to say...thanks tonto...
[13:10] {dino} ty
[13:11] {dino} tonto
[13:13] {dino} out nvda .83, +.09
[13:13] {RonS} go get 'em kimosabe'...
[13:13] {dino} ta da dump
[13:14] {RonS} lol...ok...it's official...i'm bored which means something big about to happen
[13:23] {dino}  zzzzzzzzzzzzzzzzzzzzzzzzzzzzz
[13:24] {patience} i knew it was just a matter of time
[13:25] {patience} my puppy has a new, large bone which he was throwing up in the air and then catching
[13:25] {patience} threw it across the room and took out the laptop
[13:26] {dino} lol
[13:39] {dino} chk l .54
[13:39] {dino} csh sm l .70
[13:48] {dino} out chk .74, +.20
[13:48] {dino} out nihd .59, +.20
[13:49] {Threei}  nice
[13:49] {dino} ty
[13:49] {Threei}  (IT) Italy PM Berlusconi said to have told President Napolitano he will resign after parliament passes austerity bill - finanical press
[13:49] {Threei}  that's what pushed market up
[13:49] {dino} out hitk .31 ave, +.31
[13:57] {Threei}  lol
[13:57] {Threei}  Berlusconi's ouster means Risk-On - for both stocks AND continental call girls
[13:57] {dino} lol
[14:00] {dino} out csh .98, +.28
[14:03] {dino} tstc drop
[14:10] {Threei} Long Setup:  LLY  .90 break if stays above .80
[14:30] {Threei}  (IA) White House: Likely to consider more sanctions on Iran following the release of the latest IAEA report on Iran's nuclear weapons operations
[14:30] {Threei}  nnnoooo... even more sanctions??
[14:30] {Threei}  that's so cruel
[14:34] {dino} and we are pulling out of iraq just as iran gets the bomb
[14:35] {Threei}  rudderless...
06[14:35] * Threei kicks LLY in the rear
[14:38] {Threei}  out
[14:38] {Threei}  close enough to 1:1
[14:38] {Threei}  no need to oversit one's welcome
[14:38] {Threei}  who knows what Berlusconi and Greek one do next minute
[14:40] {Threei}  I mean these guys have no concept of what can be done and said when and where... see latest twist with Sarkozy/Obama exchange anout Netanyahu
[14:40] {Threei}  you'd think politicans of this rank understand that mikes are never off, right?
[15:22] {Threei}  Election 2012: Generic Republican 46%, Obama 42%
[15:22] {Threei}  see?
[15:31] {Threei}  anyone's awake?
[15:32] {swill} I'll check
[15:33] {Threei}  do share results
[15:33] {patience} yup
[15:33] {Threei}  2
[15:38] {swill} a learning day
[15:38] {Threei}  hey, still profitable
[15:38] {Threei}  where else do you get paid for learning?
[15:38] {swill} lol
[15:38] {RonS} THE BREAK-UP IS OFFICIAL: Berlusconi Posts His Resignation On Facebook
[15:46] {patience} thanks vad, see you tomorrow
[15:47] {Threei}  thank you all
[15:47] {Threei}  a bit boring day
[15:47] {swill} thank you
[15:48] {Threei}  but I'll tarde excitement for profit any day
[15:48] {Threei}  and will see excitement after the market hours
[15:48] {Threei}  have a great evening
[15:48] {Threei}  see you tomorrow
[15:52] {dino}    thx all, overall a good day, appreciate the ideas
[15:58] {dino} loop spike
[15:59] {dino} 2401 filled
[16:02] {Threei}  WTW
[16:02] {Threei}  mama