Market Week Wrap-up
- Global equity markets were calmer this week after last week's wild moves,
despite another uninspired EU summit, more worrying economic data in China and
Europe, and a raft of concerning US corporate guidance calls. The focus was
largely on the European Union leaders' summit on Thursday and Friday, as well
as the ECB rate decision on Thursday morning. Coming into the week there were
more unconfirmed reports of conflict between Berlin and Paris over potential
policies to be promulgated at the summit, including whether the EU would agree
to a new treaty or satisfy itself with an "intergovernmental
agreement." A sense of mild optimism drove yields on both Italian and
Spanish 10-year debt below 6% for the first time in weeks. On Monday evening, S&P
put the sovereign ratings of all 17 euro zone nations -- including its six
AAA-rated members -- on watch negative, warning that steps taken at the EU
summit would determine the firm's ultimate ratings decisions. On Thursday, the
ECB cut its main refi rates for a second month in a row and expanded its
emergency lending measures, however it did not takes a step toward branding
itself as the lender of last resort, as many had hoped. At the summit European
leaders delivered on the hopes ginned up last week, which is to say the euro
zone reached an incremental yet seemingly incomplete plan of action and agreed
to meet again in three months to finalize the plan. Exhausted traders hardly
had the energy to sell the news. Finnish PM Katainen summed up this week's deal
nicely, noting that it was "beginning of the beginning of the end of the
crisis." On the data front, rate decisions from Australia, New Zealand,
and South Korea offered a unified theme of an entrenched regional slowdown,
while monthly economic data from China showed further deceleration in both
manufacturing and inflation metrics. In a worrying sign, the Shanghai Composite
made fresh multi-month lows. Europe's In the US, the week's initial jobless
claims hit nine-month lows and the preliminary University of Michigan consumer
sentiment index moved out to its highest level since June. For the week the
DJIA rose 1.4%, the NASDAQ gained 0.8%, and the S&P 500 tacked on 0.9%.
- With the fourth quarter reporting season fast approaching, firms have begun
offering preliminary earnings guidance calls to position themselves in a
darkening economic situation. Among the more negative calls, Metlife warned its
Q4 profits would be lower than expected and gave a soft preliminary view of its
FY12 outlook, Yum Brands' initial FY12 outlook fell short of expectations, and
Darden Restaurants warned that its profits in the current quarter would
disappoint. DuPont cut its FY11 outlook (slightly), citing destocking across
polymers and certain industrial supply chains that has accelerated during the
fourth quarter. Scotts Miracle-Gro warned that its quarterly loss in Q1 would
be steeper than expected. Toyota cut its FY11 net and operating profit guidance
in half due to the impact of the Thailand floods and the strong JPY. Not all
the guidance was bearish: Fedex said that volume would reach 17M on Dec 12,
+10% y/y, making for the busiest day in company history. Monsanto raised its Q1
guidance significantly, citing strength in Brazil and Argentina, with some
contribution from the US and Australia. 3M's initial look at FY12 was largely
in line with consensus expectations.
- The tech sector saw some negative calls for the current quarter as well. Chip
manufacturer Texas Instruments and two close competitors, Lattice Semiconductor
and Altera, downgraded their outlook for Q4. All three companies cited
broad-based declines in orders across a wide range of markets. Texas
Instruments indicated that demand for wireless chipsets is holding up, but on
it also said distributors' inventories are at very low levels, which hints at a
possible upswing in FY12. Bucking the industry trend, Novellus Systems
reiterated its prior guidance and said its bookings in the current quarter were
trending higher than prior projections, thanks to improved confidence among
customers.
- Trading in FX markets was all a build up to Thursday's ECB decision and the
EU leaders' summit. After the policy easing on Thursday, the ECB press
conference began with the EUR/USD pair moving higher to test 1.3459 as the
European Central Bank disclosed that it would implement a three-year refi
operation (an extension beyond the existing one-year refi) and ease collateral
rules. EUR/USD then fell to test 1.3310 after ECB President Draghi commented
that the EU treaty did not permit monetary financing of governments, taking
hopes for an ECB backstop off the table for the moment. Many were disappointed
that the bank was only focused on ways to support the banking sector and
refused to become the lender of last resort for euro zone states, although some
analysts believe the bank is waiting for political leaders to draft a game plan
for deeper economic integration before it agrees to a more involved role. Note
that the EUR/USD pair again managed to hold above the pivotal 1.3210/30 area,
even in the aftermath of the largely disappointing summit meeting.
- The EU leaders summit has unwound more or less as expected, with the 17 euro
zone nations and at least six of the ten non-euro zone nations agreeing to deep
fiscal integration via a new treaty rather than some sort of inter-governmental
agreement (three nations said they must consult their Parliaments first and the
UK refused to join the revised treaty). The UK stands isolated, refusing to
play nice with its European colleagues, citing the competitive position of the
UK's financial industry as its chief concern. EU leaders agreed to meet again
in March of 2012 to finalize the new treaty. Among the disappointments was the
lack of any discussion of euro bonds or agreement on a bank license for the ESM
that would have drawn the ECB closer to a backstopping role. However, few doubt
that the issue of euro bonds is likely to be brought up again at the March
summit.
- In other FX news, the BOE left its key rate unchanged at 0.50% and maintained
its asset purchase target at £275B. The yen was firmer against major pairs.
Japanese Economy Minister Furukawa commented that the European crisis was to
blame for the Yen strength and that he wants to make efforts with the BOJ to
further clarify its FX stance internationally. The JPY was firmer on risk
aversion flows against the major pairs ahead of the EU Leader Summit.
- Three central bank rate decisions in Asia did not inspire confidence. In
Australia, the RBA cut its cash rate by 25bps for the second consecutive
meeting, citing softer labor conditions, more pronounced weakness in China and
inflation within the bank's target range of 2-3%. Australia's November labor
data corroborated an increasingly cautious central bank stance, as net job
creation turned negative for the first time in three months and participation
rate fell to its lowest point in 15 months. In New Zealand, the RBNZ left rates
unchanged at 2.50% but lowered its GDP target for this fiscal year to 2.0% from
2.5%. Governor Bollard's statement also dropped a hint of policy tightening in
the coming month that has been present ever since the emergency post-quake rate
cut in March. The Bank of Korea also cut its growth projections accompanying
this week's unchanged policy stance, lowering its 2011 GDP target by 0.5pts to
3.8% and 2012 target to an even lower 3.7% mark amid continued uncertainty for
Korea's key export markets.
- Monthly economic data from China showed further deceleration in both
manufacturing and inflation metrics, giving rise to the rumors of last week's
RRR rate cut by the PBoC being followed by a cut in key 1-year rates. November
CPI fell well shy the expected 4.5% at 4.2%, the lowest rate since September of
2010, while industrial production came in at a 26-month low 12.4%. Financial
press continued to home in on the risk of Chinese asset bubbles, discussing
rising local government debt, suspended infrastructure projects and outflows of
speculative capital. Indeed, China monthly FX reserves were said to have fallen
for the first time in eight years, the Shanghai Composite made fresh
multi-month lows below 2,310, and Vale became the first mining giant to accept
a double-digit price cut on iron ore imports.
TradeTheNews
Friday, December 9, 2011
Nemo's Findings for the week of: 12/11
(Participation in the room in real time requires membership. Free trial is available)
Here are the images:
Here is the format import link:
http://www.freestockcharts.com/?emailChartID=891e9c9b-a833-44bb-8f25-1dddd53e6f83
And here is the blog link that explains the process:
http://tradinglog.realitytrader.com/2011/12/multi-time-frame-pivot-analysis.html
Here are the images:
Here is the format import link:
http://www.freestockcharts.com/?emailChartID=891e9c9b-a833-44bb-8f25-1dddd53e6f83
And here is the blog link that explains the process:
http://tradinglog.realitytrader.com/2011/12/multi-time-frame-pivot-analysis.html
Dec 09 2011
(Participation in the room in real time requires membership. Free trial is available)
Wasn't really our day - exchanged jabs with market, won some, lost some, endured a whole lot of boredom and ended up slightly negative. Oh well. It was a very good week anyway.
Session Time: Fri Dec 09 00:00:00 2011
[08:58] {Threei} yawn
[08:59] {Threei} hmmm... no nemo with blood thirst in his eyes and gun barrel roaming in search of something to kill?
[08:59] {Threei} something's wrong with this morning
[09:00] {Threei} (GR) Greece 10-year gov't yields rise above 35% for fresh Euro record highs
[09:02] {Threei} (EU) Various EU Leaders comments on Summit following working lunch
[09:02] {Threei} - German Chancellor Merkel: EU summit made a breakthrough for the foundation of a lasting and stable euro. Pleased ECB has suggested it will give expert support to the EFSF. Says the EU has always repsected the UK decision to stay out of the euro zone. Reiterates Germany will not boost the ESM beyond �500B.
[09:02] {Threei} - Spain PM: Blocking ESM will require a majority of 85%
[09:02] {Threei} - EU President Van Rompuy: Targets to ratify ESM by mid-2012. Disappointed that we could not get all EU27 nations to join in the treaty revisions [Reminder: 23 agreed today, 3 others have said they will consult their Parliaments, and UK has outright rejected the changes].
[09:06] {Threei} Italy bonds are up too, 1.12%
[09:13] {ese} morning....week so far....being run over on my bike monday.....5 shows so far number 6 today....one of my students colapsed after a show, I was at emergency until 2 AM Wednesday night ...and last but not least...lost my drivers license yesterday.....alchohol is a real option come tomorrow
[09:13] {Threei} jeez
[09:14] {Threei} what happened with license?
[09:14] {ese} this week and next always the busiest for me every year......high school music directors nightmare.....
[09:15] {ese} been like this for 30 years
[09:15] {ese} you go to the motor vehicle branch report it missing ....they cancel it and it costs you $17 to replace it
[09:21] {Threei} so far, EU summit produced a lot of hot air
[09:21] {ese} what were the last 2 days like.......
[09:21] {Threei} equity market is more or less happy there is no immediate collapse
[09:22] {ese} hmmmmmm
[09:22] {Threei} bond market is unhappy that there is no solution
[09:22] {Threei} good trading days for us ese
[09:23] {ese} excellent.....excellent
[09:23] {Threei} so, plan for today
[09:23] {ese} good to see the boys and girls makin hay
[09:23] {Threei} mostly looking for a short side for now,
[09:23] {Threei} keeping im mind that news can change the mood on a dime
[09:23] {Threei} and come at unpredictable time
[09:24] {Threei} as all these guys baskng in their 15 min beams of attention rush to say something
[09:25] {Threei} so, let's basically do what worked for us this week: stay careful, humble, seek our setups, grab our easy money and get out of the pool till next weak antelope walks by
[09:25] {Threei} how's that for a mixed metaphor?
[09:27] {jakob} good morning
[09:27] {Threei} jakob :)
[09:27] {ese} like it
[09:27] {Threei} missed couple great days
[09:28] {jakob} yes i know had to do a day job and it is not day trading.
[09:29] {Threei} hate those
[09:29] {Threei} they always interfere with life
[09:29] {jakob} hope will catch up
[09:30] {Threei} Short Setup: FCX .30 break half lot
[09:30] {Threei} umm
[09:31] {Threei} I doubt it was possible to catch
[09:31] {Threei} let's see if we get a bounce to short
[09:31] {Threei} somewhere into .40 territoy
[09:32] {Threei} Short Setup: FCX .40 break
[09:32] {Threei} half lot
[09:32] {Threei} is stays under .50
[09:32] {Threei} invalidated
[09:33] {Threei} next range to hunt for short is .60 - .70
[09:34] {nemo} hunt?
[09:34] {Threei} lol
[09:34] {Threei} Short Setup: FCX .60 break
[09:34] {nemo} I went to some places yesterday I haven't been...so much rain this fall can't get into them without scuba gear
[09:34] {Threei} if stays under .70
[09:35] {nemo} Now wouldn't that be a sight...Heading into the woods in camoflage scuba gear and a shotgun
[09:35] {Threei} target 1:2
[09:36] {Threei} stiop to .66
[09:37] {Threei} out
[09:38] {Threei} Short Setup: MCD .20 break
[09:38] {nemo} iwm at pivot and retracement
[09:38] {Threei} stop above .30
[09:39] {Threei} 1:1
[09:39] {Threei} 1:2, out
[09:39] {Threei} fast and furious
[09:40] {Threei} Short Setup: CS .70 break
[09:40] {Threei} if stays under .80
[09:41] {Threei} target 1:2
[09:43] {Threei} holding better than I'd expect...
[09:43] {Threei} let's trail to .76
[09:43] {Threei} it should have been at 1:1 by now
[09:43] {ese} L DB .22
[09:44] {ese} stop .13
[09:44] {nemo} anybody look at the trade you all ignored that I posted on the blog?
[09:44] {nemo} As if I don't know the answer...
[09:45] {ese} ahhhhhh....sorry neems.....concentrating on something else
[09:46] {Threei} out CS
[09:46] {ese} out DB .35 +.13
[09:46] {ese} 1/2 out
[09:47] {ese} stop to break even balance
[09:47] {Threei} Short Setup: ABX .40 break
[09:48] {ese} gotta do better than .40 or will toast the balance
[09:49] {ese} puuuuuurrrrrfect!
[09:49] {ese} out in full .42
[09:49] {Threei} nice
[09:49] {ese} +.20
[09:50] {ese} tks.....thats my day 1K/1K......
[09:50] {Threei} invalidated
[09:51] {ese} and it's taking off
[09:51] {ese} DB that is
[09:51] {_michael} were fighting the index on these shorts
[09:52] {Threei} so far, yes
[09:54] {nemo} no real spy resistance until .55-.75 area
[09:55] {Threei} *(US) DEC PRELIMINARY UNIVERSITY OF MICHIGAN CONFIDENCE: 67.7 V 65..8E
[09:55] {nemo} argualby IWM is above pivot and a retracement, could provide support
[09:55] {ese} pretty good number
[09:58] {Threei} Long Setup: POT 40 break half lot
[09:58] {Threei} stop under .90
[09:59] {nemo} s1 support is .86 set stop below
[10:01] {Threei} 1:1
[10:01] {Threei} half out
[10:01] {Threei} scalpers be happy
[10:01] {nemo} vwap here
[10:01] {Threei} 1:2
[10:01] {Threei} out in full
[10:02] {Threei} mixed bag morning
[10:05] {RonS} took pot .00 to .35 thanks 3i
[10:05] {Threei} POT had more in it
[10:05] {Threei} wtg Ron
[10:05] {Threei} played it better than I did
[10:06] {RonS} last 7 cents were tough
[10:08] {RonS} wow dmnd
[10:15] {RonS} grudge match: EU'S JUNCKER: Cameron's decision is "not good" for both U.K. and Europe. U.K. shouldn't continue "policy of isolation"
[10:17] {Threei} good luck pressuring UK
[10:18] {Threei} Short Setup: SLW .20 break
[10:19] {Threei} if stays under .30 of course
[10:20] {Threei} Juncker: what's with swimming alone while we are going to sink all together? Be a good sport and join us
[10:22] {Threei} SLW stop to .26
[10:24] {Threei} out
[10:24] {Threei} 7 cents was all it could make?
[10:26] {Threei} rinse
[10:26] {Threei} low volume day
[10:26] {Threei} not liking those
[10:28] {Threei} Short Setup: POT 40 break
[10:28] {Threei} if stays under .10
[10:30] {Threei} target 1:3
[10:33] {Threei} no go
[10:34] {_morris541} is there enough bullishnes for this to push higher from here
[10:35] {Threei} with this luck of volume, anybody's guess
[10:35] {_morris541} im calling short side, but keeping it tight
[10:36] {Threei} this is what I am doing so far, with mixed success
[10:37] {Threei} so far it's "management day"
[10:37] {Threei} as in:
[10:37] {Threei} manage the trade risk wise, wait for the system odds to work their magic,
[10:37] {Threei} and if they don't, well - who said there wouldn't be losing days
[10:38] {nemo} think short is eventually right probably more towards afternoon...euro issues going into weekend
[10:42] {Threei} let's try something different
[10:42] {Threei} stock that doesn't pay attention to the market
[10:42] {Threei} Short Setup: CL .35 break half lot
[10:43] {Threei} if stsays under .45
[10:43] {RonS} stepping on the tube, eh?
[10:45] {RonS} a very clear explanation: http://tinyurl.com/ccd8jsk
[10:46] {Threei} I was hoping for "stepping on the tube" explanation :)
[10:46] {nemo} Yeah, Merkel accomplishes what Hitler couldn't
[10:46] {Threei} I suspect with the same success
[10:47] {nemo} cyanide capsules?
[10:47] {Threei} lol... not as graphic
[10:47] {Threei} just a retirement
[10:47] {RonS} colgate...toothpaste...
[10:47] {Threei} let's go CL
[10:48] {Threei} oh, got it
[10:48] {Threei} I am dense today, sorry
[10:48] {RonS} find this situation hilarious: http://tinyurl.com/cjgq3nd
[10:48] {Threei} nemo, don't even think about it
[10:49] {nemo} don't worry that's like shooting a fawn
[10:49] {Threei} fawn...... okaaay
[10:51] {nemo} http://www.businessinsider.com/howard-buffett-berkshire-hathaway-2011-12
[10:51] {nemo} short brk.b
[10:51] {RonS} one of the reasons US turning into net oil exporter: http://tinyurl.com/7d3y987
[10:52] {Threei} come on... 2 cents from 1:1 again?
[10:52] {Threei} stop to .41
[10:52] {nemo} "You can tell a woman she's the most ugliest thing you've ever saw, or say honey when I look at you time stands still."
[10:54] {RonS} was going to post that for you but the yahoo from florida should have used seen, not saw
[10:54] {nemo} hehehehehe
[10:55] {Threei} lol
[10:56] {Threei} Long Setup: SLW .40 break
[10:57] {RonS} still love what a former boss said to a woman at a bar: honey, i'm too old for you, and you're too old for me.....(he was 50 at the time and she about 30)
[10:58] {nemo} then there's the classic: "I spent a year with her one night"
[10:59] {Threei} target 1:2
[11:00] {Threei} 1:1
[11:00] {Threei} half out
[11:00] {Threei} scalpers know what to do
[11:01] {Threei} 76% of registered US voters say most members of Congress do not deserve re-election
[11:01] {Threei} yet it's these same folks who voted for them?
[11:01] {Threei} and will no doubt do the sdame next time?
[11:01] {RonS} they mean the other members 3i...never theirs...
[11:02] {Threei} right
[11:02] {Threei} this popular anger toward congress is hilarious... congress reflects those same folks that feel angry about their own choices
[11:02] {dino} hitk sm l .50
[11:02] {Threei} come on SLW
[11:02] {Threei} give us 5 cents more
[11:04] {Threei} Deutsche Bahn AG S&P puts AA rating on watch negative
[11:05] {nemo} why did S&P put the National Train service on watch?
[11:05] {Threei} I suspect they confused it with Deutsche Bank
[11:05] {Threei} at least I did, lol
[11:06] {Threei} so, they right question qwould be why I gfelt the need to post it
[11:07] {nemo} .77 area resistance for spy
[11:07] {Threei} SLW stop to .45
[11:09] {RonS} out slw +.15 thanks 3i
[11:10] {Threei} welcome
[11:10] {Threei} out SLW in full
[11:11] {Threei} doesn't fully fix the day yet but makes it "wasn't really worth waking up"
[11:12] {Threei} timely exit
[11:12] {Threei} how about that
[11:13] {patience} good morning
[11:13] {Threei} morning patience
[11:13] {Threei} Focus Media Holding Hearing Muddy Waters again making cautious comments (timing uncertain)
[11:14] {Threei} lol, like dog with a bone
[11:14] {Threei} FMCN
[11:14] {nemo} spy dropped at .77
[11:18] {Threei} GE
[11:19] {Threei} dividend increase
[11:35] {Threei} at some point bulls should remember about gravity
[11:35] {nemo} it's getting close
[11:36] {Threei} feels this way but I'd wait out one more bout of mindless anthusiasm
[11:36] {nemo} afternoon
[11:36] {nemo} http://www.freestockcharts.com?emailChartID=c038054c-fab6-4d3e-ab73-871731fd4f39
[11:44] {Threei} ok, here comes one more spike
[11:45] {Threei} and unless news changes the mood, I suspect it's the last one
[11:45] {patience} is it options expiry today?
[11:45] {Threei} Long Setup: TZA .60 break
[11:45] {Threei} half lot
[11:45] {Threei} if stays above .45
[11:47] {RonS} only weeklies
[11:47] {Threei} (HU) Hungary PM Orban: Every effort needs to be made to prevent Hungary from following Europe into recession
[11:48] {Threei} lol... when they talk about EU recession, to me it sounds like "Titanic had a rough crossing"
[11:48] {Threei} TZA target .90
[11:51] {Threei} http://goo.gl/j3tSh
[12:08] {dino} bth gap filled
[12:08] {dino} sm l .65
[12:14] {Threei} not much works today
[12:23] {Threei} (NV) Netherlands Debt agency comments on S&P credit watch; not concerned as it would impact everyone- Notes bond demand wasnt impacted in a major way
[12:24] {Threei} lol, meaning there was no demand anyway?
[12:32] {dino} bth stop
[12:39] {Threei} while nothing happens, a little update
[12:39] {Threei} course booklet has been finished
[12:40] {Threei} one day to go over it to make sure all logical links are in order,
[12:40] {Threei} as in, there is no case when page 23 refers to something mentioned on page 86
[12:40] {Threei} constructing videos should take 2-3 days,
[12:41] {Threei} after that it's purely technical part,
[12:41] {Threei} finalizing the format, putting things online, activating protection/access mechanisms
[12:41] {Threei} which should be 2-3 days as well
[12:42] {Threei} so we are on target to release it over the next weekend
[12:42] {Threei} barring something unexpected of course
[12:42] {Threei} like maid knee or strong case of laziness
[13:01] {Threei} (FR) ECB's Noyer: Notes ECB liquidity measures can be considered a 'bazooka'; not seeing any signs of a credit crunch in France
[13:01] {Threei} - Restoring confidence in Europe will help improve growth prospects in 2012.
[13:01] {Threei} - Moody's analysis of France banks is 'erroneous,' fails to look at the fundamentals
[13:01] {Threei} **Reminder: Earlier Moody's lowered ratings on three France banks (Societe Generale, Credit Agricole, and BNP Paribas)
[13:01] {Threei} funny guy this Noyer
[13:49] {dino} .
[13:50] {Threei} good point
[13:55] {RonS} qotd: warren buffet wants his idiot farmer son to be chairman of berkshire
[13:55] {Threei} he is a farmer?
[13:55] {RonS} don't know
[13:56] {RonS} Howard Buffett, a farmer with no college degree
[13:57] {RonS} For his part, Howard Buffett is amenable to the plan, he told the newsmagazine, as long as he doesn't have to stop growing corn and soybeans.
[13:58] {RonS} ...be better off with Jimmie Buffet...
[13:59] {RonS} ...he is a cousin...
[14:09] {RonS} nemo go shopping?...look swhc
[14:09] {Threei} lol
[14:09] {RonS} you would think the O getting elected or something
[14:09] {Threei} you are giving me nightmares
[14:21] {Threei} (US) White House rejects the most recent payroll tax extension proposal from GOP- Note: GOP earlier: - Boehner's version of the bill would extend payroll tax cut at 4.2% for employees. - Bill would restructure unemployment compensation, US flood insurance program.(new component of plan) - Would increase Medicare premiums for higher earners, would block top earners from obtaining unemployment benefits. (same as prior GOP plan rejected by Congress)
[14:23] {Threei} what's wrong with that?
[14:24] {Threei} this guys really embrasses himself with these comments:
[14:24] {Threei} (EU) Eurogroup's Juncker: Ireland is performing well, there is no reason for Greece to be expelled from the EMU- Feels Britain made a poor choice in isolating itself by not signing on to new framework
[14:29] {Threei} don't see news ffor this spike
[14:29] {Threei} be back in 20 min to try and find couple final plays
[14:42] {dino} took hours but out hitk .05 +.55
[14:49] {Threei} back
[14:49] {Threei} nice one dino
[14:50] {dino} ty not much going on
[14:53] {Threei} tell me about it
[14:53] {Threei} my coma is twice as deep today
[14:54] {Threei} eve wife noticed I don't hear her speaking on 2nd minute, and usually I manage to fool her for about 5
[15:03] {Threei} Long Setup: GRMN .90 break
[15:11] {Threei} Long Setup: TZA .85 break
[15:11] {Threei} stop under .80
[15:18] {Threei} The Goldman Sachs Group Inc Said to be evaluating launch of wholesale trading unit; Credit Suisse also said to be considering the idea - financial press
[15:18] {Threei} what's that?
[15:19] {Threei} rinses are abound today
[15:24] {dino} calling it a week, thx all
[15:26] {Threei} take care dino
[15:26] {patience} have a good weekend, party time for me
[15:27] {Threei} still have to get a few cents from GRMN for party
[15:52] {Threei} (EU) ECB's Draghi said to be evaluating ways to distance the ECB from European politics- Draghi feels forced into more political roles due to lack of a response from Govts
[15:52] {Threei} out GRMN with little scalp
[15:53] {Threei} OK guys, thank you, have a good weekend
[15:53] {Threei} see you Monday
[15:56] {patience} ty vad
Wasn't really our day - exchanged jabs with market, won some, lost some, endured a whole lot of boredom and ended up slightly negative. Oh well. It was a very good week anyway.
Session Time: Fri Dec 09 00:00:00 2011
[08:58] {Threei} yawn
[08:59] {Threei} hmmm... no nemo with blood thirst in his eyes and gun barrel roaming in search of something to kill?
[08:59] {Threei} something's wrong with this morning
[09:00] {Threei} (GR) Greece 10-year gov't yields rise above 35% for fresh Euro record highs
[09:02] {Threei} (EU) Various EU Leaders comments on Summit following working lunch
[09:02] {Threei} - German Chancellor Merkel: EU summit made a breakthrough for the foundation of a lasting and stable euro. Pleased ECB has suggested it will give expert support to the EFSF. Says the EU has always repsected the UK decision to stay out of the euro zone. Reiterates Germany will not boost the ESM beyond �500B.
[09:02] {Threei} - Spain PM: Blocking ESM will require a majority of 85%
[09:02] {Threei} - EU President Van Rompuy: Targets to ratify ESM by mid-2012. Disappointed that we could not get all EU27 nations to join in the treaty revisions [Reminder: 23 agreed today, 3 others have said they will consult their Parliaments, and UK has outright rejected the changes].
[09:06] {Threei} Italy bonds are up too, 1.12%
[09:13] {ese} morning....week so far....being run over on my bike monday.....5 shows so far number 6 today....one of my students colapsed after a show, I was at emergency until 2 AM Wednesday night ...and last but not least...lost my drivers license yesterday.....alchohol is a real option come tomorrow
[09:13] {Threei} jeez
[09:14] {Threei} what happened with license?
[09:14] {ese} this week and next always the busiest for me every year......high school music directors nightmare.....
[09:15] {ese} been like this for 30 years
[09:15] {ese} you go to the motor vehicle branch report it missing ....they cancel it and it costs you $17 to replace it
[09:21] {Threei} so far, EU summit produced a lot of hot air
[09:21] {ese} what were the last 2 days like.......
[09:21] {Threei} equity market is more or less happy there is no immediate collapse
[09:22] {ese} hmmmmmm
[09:22] {Threei} bond market is unhappy that there is no solution
[09:22] {Threei} good trading days for us ese
[09:23] {ese} excellent.....excellent
[09:23] {Threei} so, plan for today
[09:23] {ese} good to see the boys and girls makin hay
[09:23] {Threei} mostly looking for a short side for now,
[09:23] {Threei} keeping im mind that news can change the mood on a dime
[09:23] {Threei} and come at unpredictable time
[09:24] {Threei} as all these guys baskng in their 15 min beams of attention rush to say something
[09:25] {Threei} so, let's basically do what worked for us this week: stay careful, humble, seek our setups, grab our easy money and get out of the pool till next weak antelope walks by
[09:25] {Threei} how's that for a mixed metaphor?
[09:27] {jakob} good morning
[09:27] {Threei} jakob :)
[09:27] {ese} like it
[09:27] {Threei} missed couple great days
[09:28] {jakob} yes i know had to do a day job and it is not day trading.
[09:29] {Threei} hate those
[09:29] {Threei} they always interfere with life
[09:29] {jakob} hope will catch up
[09:30] {Threei} Short Setup: FCX .30 break half lot
[09:30] {Threei} umm
[09:31] {Threei} I doubt it was possible to catch
[09:31] {Threei} let's see if we get a bounce to short
[09:31] {Threei} somewhere into .40 territoy
[09:32] {Threei} Short Setup: FCX .40 break
[09:32] {Threei} half lot
[09:32] {Threei} is stays under .50
[09:32] {Threei} invalidated
[09:33] {Threei} next range to hunt for short is .60 - .70
[09:34] {nemo} hunt?
[09:34] {Threei} lol
[09:34] {Threei} Short Setup: FCX .60 break
[09:34] {nemo} I went to some places yesterday I haven't been...so much rain this fall can't get into them without scuba gear
[09:34] {Threei} if stays under .70
[09:35] {nemo} Now wouldn't that be a sight...Heading into the woods in camoflage scuba gear and a shotgun
[09:35] {Threei} target 1:2
[09:36] {Threei} stiop to .66
[09:37] {Threei} out
[09:38] {Threei} Short Setup: MCD .20 break
[09:38] {nemo} iwm at pivot and retracement
[09:38] {Threei} stop above .30
[09:39] {Threei} 1:1
[09:39] {Threei} 1:2, out
[09:39] {Threei} fast and furious
[09:40] {Threei} Short Setup: CS .70 break
[09:40] {Threei} if stays under .80
[09:41] {Threei} target 1:2
[09:43] {Threei} holding better than I'd expect...
[09:43] {Threei} let's trail to .76
[09:43] {Threei} it should have been at 1:1 by now
[09:43] {ese} L DB .22
[09:44] {ese} stop .13
[09:44] {nemo} anybody look at the trade you all ignored that I posted on the blog?
[09:44] {nemo} As if I don't know the answer...
[09:45] {ese} ahhhhhh....sorry neems.....concentrating on something else
[09:46] {Threei} out CS
[09:46] {ese} out DB .35 +.13
[09:46] {ese} 1/2 out
[09:47] {ese} stop to break even balance
[09:47] {Threei} Short Setup: ABX .40 break
[09:48] {ese} gotta do better than .40 or will toast the balance
[09:49] {ese} puuuuuurrrrrfect!
[09:49] {ese} out in full .42
[09:49] {Threei} nice
[09:49] {ese} +.20
[09:50] {ese} tks.....thats my day 1K/1K......
[09:50] {Threei} invalidated
[09:51] {ese} and it's taking off
[09:51] {ese} DB that is
[09:51] {_michael} were fighting the index on these shorts
[09:52] {Threei} so far, yes
[09:54] {nemo} no real spy resistance until .55-.75 area
[09:55] {Threei} *(US) DEC PRELIMINARY UNIVERSITY OF MICHIGAN CONFIDENCE: 67.7 V 65..8E
[09:55] {nemo} argualby IWM is above pivot and a retracement, could provide support
[09:55] {ese} pretty good number
[09:58] {Threei} Long Setup: POT 40 break half lot
[09:58] {Threei} stop under .90
[09:59] {nemo} s1 support is .86 set stop below
[10:01] {Threei} 1:1
[10:01] {Threei} half out
[10:01] {Threei} scalpers be happy
[10:01] {nemo} vwap here
[10:01] {Threei} 1:2
[10:01] {Threei} out in full
[10:02] {Threei} mixed bag morning
[10:05] {RonS} took pot .00 to .35 thanks 3i
[10:05] {Threei} POT had more in it
[10:05] {Threei} wtg Ron
[10:05] {Threei} played it better than I did
[10:06] {RonS} last 7 cents were tough
[10:08] {RonS} wow dmnd
[10:15] {RonS} grudge match: EU'S JUNCKER: Cameron's decision is "not good" for both U.K. and Europe. U.K. shouldn't continue "policy of isolation"
[10:17] {Threei} good luck pressuring UK
[10:18] {Threei} Short Setup: SLW .20 break
[10:19] {Threei} if stays under .30 of course
[10:20] {Threei} Juncker: what's with swimming alone while we are going to sink all together? Be a good sport and join us
[10:22] {Threei} SLW stop to .26
[10:24] {Threei} out
[10:24] {Threei} 7 cents was all it could make?
[10:26] {Threei} rinse
[10:26] {Threei} low volume day
[10:26] {Threei} not liking those
[10:28] {Threei} Short Setup: POT 40 break
[10:28] {Threei} if stays under .10
[10:30] {Threei} target 1:3
[10:33] {Threei} no go
[10:34] {_morris541} is there enough bullishnes for this to push higher from here
[10:35] {Threei} with this luck of volume, anybody's guess
[10:35] {_morris541} im calling short side, but keeping it tight
[10:36] {Threei} this is what I am doing so far, with mixed success
[10:37] {Threei} so far it's "management day"
[10:37] {Threei} as in:
[10:37] {Threei} manage the trade risk wise, wait for the system odds to work their magic,
[10:37] {Threei} and if they don't, well - who said there wouldn't be losing days
[10:38] {nemo} think short is eventually right probably more towards afternoon...euro issues going into weekend
[10:42] {Threei} let's try something different
[10:42] {Threei} stock that doesn't pay attention to the market
[10:42] {Threei} Short Setup: CL .35 break half lot
[10:43] {Threei} if stsays under .45
[10:43] {RonS} stepping on the tube, eh?
[10:45] {RonS} a very clear explanation: http://tinyurl.com/ccd8jsk
[10:46] {Threei} I was hoping for "stepping on the tube" explanation :)
[10:46] {nemo} Yeah, Merkel accomplishes what Hitler couldn't
[10:46] {Threei} I suspect with the same success
[10:47] {nemo} cyanide capsules?
[10:47] {Threei} lol... not as graphic
[10:47] {Threei} just a retirement
[10:47] {RonS} colgate...toothpaste...
[10:47] {Threei} let's go CL
[10:48] {Threei} oh, got it
[10:48] {Threei} I am dense today, sorry
[10:48] {RonS} find this situation hilarious: http://tinyurl.com/cjgq3nd
[10:48] {Threei} nemo, don't even think about it
[10:49] {nemo} don't worry that's like shooting a fawn
[10:49] {Threei} fawn...... okaaay
[10:51] {nemo} http://www.businessinsider.com/howard-buffett-berkshire-hathaway-2011-12
[10:51] {nemo} short brk.b
[10:51] {RonS} one of the reasons US turning into net oil exporter: http://tinyurl.com/7d3y987
[10:52] {Threei} come on... 2 cents from 1:1 again?
[10:52] {Threei} stop to .41
[10:52] {nemo} "You can tell a woman she's the most ugliest thing you've ever saw, or say honey when I look at you time stands still."
[10:54] {RonS} was going to post that for you but the yahoo from florida should have used seen, not saw
[10:54] {nemo} hehehehehe
[10:55] {Threei} lol
[10:56] {Threei} Long Setup: SLW .40 break
[10:57] {RonS} still love what a former boss said to a woman at a bar: honey, i'm too old for you, and you're too old for me.....(he was 50 at the time and she about 30)
[10:58] {nemo} then there's the classic: "I spent a year with her one night"
[10:59] {Threei} target 1:2
[11:00] {Threei} 1:1
[11:00] {Threei} half out
[11:00] {Threei} scalpers know what to do
[11:01] {Threei} 76% of registered US voters say most members of Congress do not deserve re-election
[11:01] {Threei} yet it's these same folks who voted for them?
[11:01] {Threei} and will no doubt do the sdame next time?
[11:01] {RonS} they mean the other members 3i...never theirs...
[11:02] {Threei} right
[11:02] {Threei} this popular anger toward congress is hilarious... congress reflects those same folks that feel angry about their own choices
[11:02] {dino} hitk sm l .50
[11:02] {Threei} come on SLW
[11:02] {Threei} give us 5 cents more
[11:04] {Threei} Deutsche Bahn AG S&P puts AA rating on watch negative
[11:05] {nemo} why did S&P put the National Train service on watch?
[11:05] {Threei} I suspect they confused it with Deutsche Bank
[11:05] {Threei} at least I did, lol
[11:06] {Threei} so, they right question qwould be why I gfelt the need to post it
[11:07] {nemo} .77 area resistance for spy
[11:07] {Threei} SLW stop to .45
[11:09] {RonS} out slw +.15 thanks 3i
[11:10] {Threei} welcome
[11:10] {Threei} out SLW in full
[11:11] {Threei} doesn't fully fix the day yet but makes it "wasn't really worth waking up"
[11:12] {Threei} timely exit
[11:12] {Threei} how about that
[11:13] {patience} good morning
[11:13] {Threei} morning patience
[11:13] {Threei} Focus Media Holding Hearing Muddy Waters again making cautious comments (timing uncertain)
[11:14] {Threei} lol, like dog with a bone
[11:14] {Threei} FMCN
[11:14] {nemo} spy dropped at .77
[11:18] {Threei} GE
[11:19] {Threei} dividend increase
[11:35] {Threei} at some point bulls should remember about gravity
[11:35] {nemo} it's getting close
[11:36] {Threei} feels this way but I'd wait out one more bout of mindless anthusiasm
[11:36] {nemo} afternoon
[11:36] {nemo} http://www.freestockcharts.com?emailChartID=c038054c-fab6-4d3e-ab73-871731fd4f39
[11:44] {Threei} ok, here comes one more spike
[11:45] {Threei} and unless news changes the mood, I suspect it's the last one
[11:45] {patience} is it options expiry today?
[11:45] {Threei} Long Setup: TZA .60 break
[11:45] {Threei} half lot
[11:45] {Threei} if stays above .45
[11:47] {RonS} only weeklies
[11:47] {Threei} (HU) Hungary PM Orban: Every effort needs to be made to prevent Hungary from following Europe into recession
[11:48] {Threei} lol... when they talk about EU recession, to me it sounds like "Titanic had a rough crossing"
[11:48] {Threei} TZA target .90
[11:51] {Threei} http://goo.gl/j3tSh
[12:08] {dino} bth gap filled
[12:08] {dino} sm l .65
[12:14] {Threei} not much works today
[12:23] {Threei} (NV) Netherlands Debt agency comments on S&P credit watch; not concerned as it would impact everyone- Notes bond demand wasnt impacted in a major way
[12:24] {Threei} lol, meaning there was no demand anyway?
[12:32] {dino} bth stop
[12:39] {Threei} while nothing happens, a little update
[12:39] {Threei} course booklet has been finished
[12:40] {Threei} one day to go over it to make sure all logical links are in order,
[12:40] {Threei} as in, there is no case when page 23 refers to something mentioned on page 86
[12:40] {Threei} constructing videos should take 2-3 days,
[12:41] {Threei} after that it's purely technical part,
[12:41] {Threei} finalizing the format, putting things online, activating protection/access mechanisms
[12:41] {Threei} which should be 2-3 days as well
[12:42] {Threei} so we are on target to release it over the next weekend
[12:42] {Threei} barring something unexpected of course
[12:42] {Threei} like maid knee or strong case of laziness
[13:01] {Threei} (FR) ECB's Noyer: Notes ECB liquidity measures can be considered a 'bazooka'; not seeing any signs of a credit crunch in France
[13:01] {Threei} - Restoring confidence in Europe will help improve growth prospects in 2012.
[13:01] {Threei} - Moody's analysis of France banks is 'erroneous,' fails to look at the fundamentals
[13:01] {Threei} **Reminder: Earlier Moody's lowered ratings on three France banks (Societe Generale, Credit Agricole, and BNP Paribas)
[13:01] {Threei} funny guy this Noyer
[13:49] {dino} .
[13:50] {Threei} good point
[13:55] {RonS} qotd: warren buffet wants his idiot farmer son to be chairman of berkshire
[13:55] {Threei} he is a farmer?
[13:55] {RonS} don't know
[13:56] {RonS} Howard Buffett, a farmer with no college degree
[13:57] {RonS} For his part, Howard Buffett is amenable to the plan, he told the newsmagazine, as long as he doesn't have to stop growing corn and soybeans.
[13:58] {RonS} ...be better off with Jimmie Buffet...
[13:59] {RonS} ...he is a cousin...
[14:09] {RonS} nemo go shopping?...look swhc
[14:09] {Threei} lol
[14:09] {RonS} you would think the O getting elected or something
[14:09] {Threei} you are giving me nightmares
[14:21] {Threei} (US) White House rejects the most recent payroll tax extension proposal from GOP- Note: GOP earlier: - Boehner's version of the bill would extend payroll tax cut at 4.2% for employees. - Bill would restructure unemployment compensation, US flood insurance program.(new component of plan) - Would increase Medicare premiums for higher earners, would block top earners from obtaining unemployment benefits. (same as prior GOP plan rejected by Congress)
[14:23] {Threei} what's wrong with that?
[14:24] {Threei} this guys really embrasses himself with these comments:
[14:24] {Threei} (EU) Eurogroup's Juncker: Ireland is performing well, there is no reason for Greece to be expelled from the EMU- Feels Britain made a poor choice in isolating itself by not signing on to new framework
[14:29] {Threei} don't see news ffor this spike
[14:29] {Threei} be back in 20 min to try and find couple final plays
[14:42] {dino} took hours but out hitk .05 +.55
[14:49] {Threei} back
[14:49] {Threei} nice one dino
[14:50] {dino} ty not much going on
[14:53] {Threei} tell me about it
[14:53] {Threei} my coma is twice as deep today
[14:54] {Threei} eve wife noticed I don't hear her speaking on 2nd minute, and usually I manage to fool her for about 5
[15:03] {Threei} Long Setup: GRMN .90 break
[15:11] {Threei} Long Setup: TZA .85 break
[15:11] {Threei} stop under .80
[15:18] {Threei} The Goldman Sachs Group Inc Said to be evaluating launch of wholesale trading unit; Credit Suisse also said to be considering the idea - financial press
[15:18] {Threei} what's that?
[15:19] {Threei} rinses are abound today
[15:24] {dino} calling it a week, thx all
[15:26] {Threei} take care dino
[15:26] {patience} have a good weekend, party time for me
[15:27] {Threei} still have to get a few cents from GRMN for party
[15:52] {Threei} (EU) ECB's Draghi said to be evaluating ways to distance the ECB from European politics- Draghi feels forced into more political roles due to lack of a response from Govts
[15:52] {Threei} out GRMN with little scalp
[15:53] {Threei} OK guys, thank you, have a good weekend
[15:53] {Threei} see you Monday
[15:56] {patience} ty vad
Thursday, December 8, 2011
Dec 08 2011
(Participation in the room in real time requires membership. Free trial is available)
6 calls, 6 wins - who said it's a tough market? As long as you pick your battles carefully... Tomorrow will be very interesting day.
Session Time: Thu Dec 08 00:00:00 2011
[08:33] {Threei} (EU) ECB Draghi: To offer further liquidity measures
[08:34] {nemo} http://www.cbsnews.com/8301-31727_162-57338546-10391695/documents-atf-used-fast-and-furious-to-make-the-case-for-gun-regulations/
[08:34] {nemo} kinda' what I've been thinking for quite a while
[08:43] {Threei} *(US) INITIAL JOBLESS CLAIMS: 381K V 395KE; CONTINUING CLAIMS: 3.583M V 3.70ME- Prior Initial Claims revised higher from 402K to 404K - Prior Continuing Claims higher from 3.74M to 3.757M
[08:43] {Threei} (EU) Finland European Min: Many indications that Europe will find a solution
[08:44] {Threei} translation: we may have located the can; we are arguing who will have to kick it
[09:01] {Threei} entusiasm was not very long-lived
[09:06] {Threei} funny enough, while politicians bicker how to save euro, banks prepare to exit it
[09:06] {Threei} Some European Central Banks considering reviving currencies based on pre-euro currency notes - financial press
[09:06] {Threei} - Some Europe Central Banks considering possible contingency plans for possible EU exit, entire break-up.
[09:06] {Threei} - At least one Europe Central Bank thinking about securing more printing presses.
[09:06] {Threei} - Several non-euro Europe Central Banks are thinking about possible replacements for euro external reference point.
[09:06] {Threei} - Says the Swiss National Bank (SNB) is considering possible replacements for the euro as the external reference point (peg) it uses.
[09:06] {Threei} - Ireland Central Bank officials have held early stage talks about whether they could have to buy additional printing capabilities if the EU falls apart.
[09:06] {Threei} - Notes that the Bank of England (BoE) has taken steps to make sure that its ability to print currency is not comprised, if EU central banks rush to print currencies.
[09:10] {Threei} EUR/USD Euro at session lows as dealers focus Draghi's comment treaty does not permit monetary financing of governments. (related
[09:10] {Threei} (EU) UK PM Cameron: Will have no hesitation in vetoing 27-member treaty if deal is not good for Britain
[09:11] {Threei} (IT) Italy 10-year gov't yields approach 6.20%, higher by almost 20bps
[09:11] {Threei} reading EU headlines today and tomorrow may become a full time job
[09:14] {Threei} Rasmusses figured out the way to calculate percentage of people who don't know the word "history":
[09:14] {Threei} 26% Prefer Government-Managed Economy
[09:14] {Threei} the share of imbeciles is scary high, don't you think
[09:28] {nemo} hey folks..updated the post from Tuesday with a jpg of yesterday...you might like to take a look at it..hehehehehe
[09:29] {Threei} make it easy on us and give us a link, will ya...
[09:30] {Threei} keeping COST on a radar
[09:31] {Threei} FCX, looking for bounce to short
[09:31] {Threei} missed .40 break
[09:31] {Threei} grr
[09:31] {Threei} FCX, come back to pick us up
[09:33] {Threei} SLW
[09:33] {Threei} 33 break short
[09:33] {Threei} Short Setup: SLW 33 break if stays under .10
[09:34] {Threei} invalidated
[09:35] {nemo} this better: http://tradinglog.realitytrader.com/2011/12/nemos-midweek-findings-redux.html
[09:36] {Threei} Short Setup: COST 85 break half lot
[09:36] {nemo} spy at significant support
[09:36] {Threei} if stays under .15
[09:37] {Threei} invalidated
[09:38] {Threei} Short Setup: FCX .80 break
[09:38] {Threei} stop .86
[09:39] {Threei} target about .55, three partials
[09:41] {Threei} cover first piece here, near .70
[09:41] {Threei} don't trail stop yet for the balance
[09:42] {Threei} worst case scenario, it will be a wash
[09:43] {Threei} if missed first chance to cover, here it is again
[09:43] {Threei} after .70 break trail stop to .81
[09:43] {Threei} second partial here
[09:43] {Threei} .62
[09:44] {Threei} hit .56, 1 cent from target... I was a bit slow
[09:44] {Threei} anyway, stop is still .81 for the last part
[09:45] {Threei} out
[09:46] {Threei} Short Setup: JPM 33 break
[09:46] {Threei} if stays under .10
[09:47] {Threei} invalidated
[09:47] {Threei} that's what, 3rd invalidation today?
[09:48] {Threei} sign of listless trading
[09:48] {Threei} Short Setup: MON .40 break half lot
[09:48] {Threei} if stasys under .55
[09:49] {Threei} call for you cipher
[09:49] {Threei} 1:1
[09:51] {Threei} (FR) French/German Gov't bond spread at approx 120bps, wider by almost 10bps
[09:53] {Threei} Short Setup: SLW 33 break
[09:54] {Threei} if stays under .10
[09:55] {Threei} MON gave second entry at the same price... looked away for a second
[09:56] {Threei} see that doji just above .40?
[09:56] {Threei} that was the entry signal... from the last section of the new course
[09:56] {Threei} OK SLW, let's do it
[09:57] {Threei} bees do it....
[09:58] {Threei} this stall is not typical for this time of the day in down market
[09:58] {Threei} should resolve violently
[09:58] {Threei} my best guess is, to the downside
[09:59] {Threei} SLW, target's 1:3
[10:00] {Threei} *(US) OCT WHOLESALE INVENTORIES: 1.6% V 0.3%E
[10:00] {Threei} .95 is last line of defense
[10:00] {Threei} Maginot line so to speak
[10:03] {Threei} broken
[10:03] {nemo} french punted again?
[10:03] {Threei} let's the panic begin
[10:03] {Threei} 1:1
[10:03] {Threei} standard procedure
[10:04] {Threei} 1:2
[10:11] {Threei} out last piece on a trail
[10:11] {Threei} OK, you can breathe now...
[10:11] {Threei} anyone is conscious?
[10:12] {Threei} knock knock... is this thing on?
[10:12] {cipher} just came in.... got delayed
[10:12] {cipher} car service apptmt
[10:12] {Threei} 3 for 3, no single word for 40 min
[10:12] {Threei} too bad... MON call was just for you
[10:13] {cipher} i saw... too bad i coudn't participate ;(
[10:16] {RonS} jwm sm s .38
[10:16] {RonS} jwn
[10:18] {Threei} Short Setup: JPM 33 break
[10:18] {Threei} couple setups today are like deja vu
[10:20] {Threei} (PO) Portugal PM: Reforms in Portugal will move beyond terms of the bailout program
[10:20] {Threei} while Portugal itself will move to some other continent
[10:22] {dino} cov jwn .10, +.25 ty ron
[10:22] {Threei} nice
[10:22] {Threei} nice
[10:22] {Threei} sorry double
[10:23] {Threei} RE distractions again dino?
[10:23] {dino} yes
[10:23] {Threei} (BR) Brazils Fin Min Mantega: Any aid to be provided towards the EU crisis is conditioned upon further action by the Governments in the EU
[10:23] {Threei} there is something horribly wrong about the idea of Brasil helping EU
[10:25] {patience} good morning
[10:26] {Threei} morning partience
[10:30] {Threei} let's scratch JPM
[10:31] {Threei} lost read on it, too jellyfishy
[10:31] {Threei} (EU) EBA stress test said to put total capital shortfall at �114.7B
[10:31] {Threei} peanuts
[10:32] {RonS} out jwn .08 +.30
[10:32] {Threei} nice find
[10:33] {patience} nice Ron
[10:34] {RonS} ty...wanted more...
[10:34] {Threei} don't we all
[10:34] {Threei} yet we settle
[10:34] {Threei} JPM scratch was a good idea
[10:35] {Threei} normally I don't intervene in natural course of the trade letting it resoolve itself,
[10:35] {Threei} but this one fell into category:
[10:35] {Threei} do not short a dull market
[10:36] {Threei} and it became just that
[10:37] {thomcbell} y - with that multiple day + intraday setup in slw with silver tanking and market getting whacked and we only got 30 cents
[10:47] {dino} hitk sm l .15
[10:47] {RonS} brilliant: BANK OF CANADA: very high risks Canada to be hurt if debt crisis worsens
[10:48] {Threei} value added
[10:49] {dino} lol
[11:01] {Threei} shapeless market at this point... something needs to start happening
[11:02] {_michael} jpm made a double top at 10:53. why no trade
[11:02] {Threei} too narrow
[11:02] {_michael} K
[11:03] {Threei} Merkel, Sarkozy to meet before summit dinner
[11:03] {Threei} hmmm... what do they do Europe for appetizers , or pre-dinner drink?
[11:10] {Threei} watching FAZ for pullback entry
[11:10] {Threei} around .55 - .60
[11:15] {Threei} (US) Senate Republicans block confirmation of Pres Obama's nominee for head of consumer protection bureau through filibuster- President Obama schedules statement to address blockage
[11:15] {Threei} sigh
[11:23] {Threei} Long Setup: FAZ .75 break
[11:23] {Threei} invalidated
[11:23] {Threei} .70 break now
[11:24] {Threei} stop under .60
[11:25] {Threei} trail to .64
[11:25] {Threei} 1:1
[11:25] {Threei} half out here
[11:25] {Threei} scalpers be happy
[11:25] {Threei} trail to balance to .68
[11:27] {Threei} want to try for milk trade with this one
[11:27] {Threei} offer 1/4 more around .95
[11:28] {Threei} and trail for the rest for 40 break and sharp spike
[11:28] {Threei} 1/4 more out
[11:28] {Threei} +.19
[11:28] {Threei} u,,
[11:28] {Threei} +.24
[11:29] {Threei} stop b/e
[11:29] {Threei} let's see if we can get real move out of this
[11:29] {Threei} about 20-30 cents more
[11:30] {Threei} 1:3
[11:32] {RonS} dino, see an entry for IVC?
[11:32] {Threei} anyone is in FAZ still?
[11:33] {Threei} or was?
[11:33] {Threei} why do I bother... bunch of sleepyheads
[11:34] {dino} no let me look
[11:34] {_michael} last 1/3 out at 39.98
[11:34] {Threei} whew... someone listens
[11:34] {_michael} great trade
[11:34] {Threei} ty
[11:36] {dino} ivc, gut around 15 as exp next week
[11:37] {dino} news not good
[11:37] {Threei} good boy FAZ
[11:38] {dino} or maybe sm l break .60, that was recent r
[11:38] {Threei} out .24
[11:38] {Threei} +.48
[11:38] {dino} 07 red
[11:38] {Threei} whe the plan comes together like this...
[11:38] {RonS} thnks dino
[11:38] {_michael} went back in at 40.02 FAZ is my buddy
[11:38] {Threei} lol... you have a strange choice of friends but whatever works
[11:38] {Threei} better than nemo's anyway
[11:38] {Threei} he has a bunny for a friend
[11:39] {_michael} LOL
[11:39] {Threei} so, according to some estimates
[11:40] {Threei} about 700 B euros of EU debt maturities have to be rolled over in 2012,
[11:40] {Threei} about 250 in firast Q alone,
[11:40] {Threei} and all they could refinance last month was 9B
[11:41] {Threei} this is so over..
[11:41] {RonS} simple really...have them call ese...
[11:42] {Threei} I dunno.. 300B, maybe 500B he could help them with... 700, I am not sure
[11:43] {RonS} ya, i hear ya...
[11:44] {Threei} president on TV, reminded me the words I grew to hate over last month or so:
[11:44] {Threei} "fair share"
[11:45] {dino} the "looters" language
[11:46] {Threei} looters and moochers
[11:46] {dino} who is john galt
[11:46] {Threei} I am afraid we will find out...
[11:47] {RonS} lol...more summits...: http://tinyurl.com/83h88oc
[11:57] {RonS} f news halt
[12:01] {RonS} Ford Motor: Qtrly Div Begins At Level Sustainable Through Economic Cycles 12/08 10:01 AM
[12:01] {RonS} Ford Motor: Made Progress In Cutting Debt, Generating Consistent Positive Earnings, Cash Flow 12/08 10:01 AM
[12:01] {Threei} F reinstated dividend
[12:02] {RonS} Ford Motor Resumes Dividend Of 5c }F 12/08 10:00 AM
[12:27] {Threei} (GE) Germany Chancellor: Euro has lost credibility; EU must restore the credibility, EMU needs rules to be more binding; this will be a step by step process
[12:27] {Threei} - Would like to see more powers from the EU commission and courts
[12:27] {Threei} - Reiterates work towards a significant step towards a stable union
[12:36] {Threei} who unplugged the market?
[12:37] {Threei} did Merkozy trip over the power plug?
[12:39] {Threei} sao, with many invalidated setups, those that triggered worked at 100%
[12:40] {Threei} question is, will something happen without news,
[12:40] {Threei} or we are to sit and wait for either news or for end of day activity as folks start position themselves for tomorrow
[12:41] {Threei} anyone has anything to share, feel free
[12:41] {Threei} anyone has any questions, ask them while nothing happens
[12:41] {Threei} otherwise I am in deep coma
[13:26] {RonS} dino, ltd
[13:27] {Threei} sheesh... woke me up
[13:27] {RonS} have a gong when someone posts?
[13:28] {Threei} no, but it was so quiet, the sound of letters appearing on the screen spooked me
[13:31] {dino} filled 12109 gap
[13:31] {dino} ltd12019 i mean
[13:32] {Threei} want something delicious?
[13:32] {Threei} http://www.youtube.com/watch?v=xm3VMrKqJSA
[13:32] {Threei} and
[13:32] {Threei} http://www.youtube.com/watch?v=buRO9TSlScQ
[13:37] {dino} ltd looks like ex div $2
[13:38] {RonS} ah...
[13:38] {Threei} isn't it amazing how white house is totally silent on the corzine issue?
[13:59] {Threei} lol, number of solutions is equal to the number of those who open theor mouth:
[13:59] {Threei} DK) Denmark PM: Prepared to contribute funds from the Central bank to the IMF to help deal with EMU crisis; could provide �5.4B under any such request- Sweden PM: No need to adjust treaty to fix crisis and Sweden wishes to be part of the crisis resolution; EFSF should be combined with the ESM to deal with the crisis. Would require too much time to change the EU treaty. - Finland PM: Supports stronger fiscal rules, could support adjustments to the treaty if deemed necessary
[14:27] {Threei} market can stays in such narrow range for so long... wow
[14:49] {Threei} Long Setup: TZA 29.05 break half lot
[14:49] {Threei} stop under .95
[14:51] {Threei} 1:1
[14:53] {Threei} 1:2\
[14:53] {Threei} like fish in a barrel
[14:53] {Threei} 5 out of 5
[14:54] {Threei} aside of long perdios of inactivity, it's quite easy market, believe it or not
[14:56] {Threei} I know everyone and their brother claim it's impossible to trade market, hardest in years, darn supercomputers etc etc... I have to call BS
[14:58] {patience} i agree with you Vad
[14:58] {patience} October and November have been good months
[14:58] {patience} I just had to trade when the market suited my style
[14:58] {Threei} that's very unfamiliar place to be... no one agreed with me about anything for the last, umm, 40+ years
[14:59] {patience} looking at booze, cigarettes, dollar store stocks for volume/and momo to build once market direction re-establishes itself
[15:00] {Threei} and guns if it doesn't
[15:00] {patience} forgot the defence sector
[15:00] {patience} but yes, last month gun sales were strong
[15:04] {nemo} watch these confluences coming up: http://www.freestockcharts.com?emailChartID=05f7d7f6-8b7d-4d26-9bab-fa9a746d447e
[15:12] {Threei} I had to rteread it twice
[15:12] {Threei} (US) Senate votes against move forward with Democrats proposal to extend payroll tax cut
[15:12] {Threei} democratic senate blocks democtartic propsal
[15:12] {Threei} OK... makes sense now
[15:13] {Threei} but hey, they don't discriminate:
[15:13] {Threei} (US) SEnate votes against move forward with Republican measure
[15:13] {Threei} maybe they are just having "against" day
[15:13] {Threei} now, this is something to decipher:
[15:13] {Threei} (EU) EU Summit Draft: EU leaders determined to preserve integrity of the union; Moving forward toward "new fiscal compact"
[15:14] {Threei} - Determined to bolster bailout mechanisms to address debt crisis challenges.
[15:14] {Threei} if today is repetition of latest way to end the day, we will get some rumor or prtened news, some buying, then selloff on denial
[15:20] {nemo} anybody buy tna?
[15:24] {Threei} kidding? no one taks to me, you expect them to ytalk to you, gun-touting bunny-friending pivot pointer?
[15:25] {cipher} lol
[15:25] {RonS} ohhh...the ultimate insult...pivot pointer
[15:25] {Threei} lol
[15:26] {Threei} (EU) EU Summit Draft: EU leaders determined to preserve integrity of the union; Moving forward toward "new fiscal compact"; Possibility of shift toward common eurozone debt issuance in LONG term should be considered
[15:26] {Threei} - Confirms to bring forward introduction of permanent ESM mechanism to Jul 2012; Existing EFSF fund to remain active until mid-2013.
[15:26] {Threei} - Permanent stability mechanism (ESM) to have maximum lending capacity of �500B.
[15:26] {Threei} - Determined to bolster bailout mechanisms to address debt crisis challenges.
[15:26] {Threei} - Evaluating new rule to make sure that budget deficits will not go above 0.5%/GDP.
[15:26] {Threei} - Sanctions to be imposed automatically on violators unless opposed by qualified majority vote.
[15:28] {Threei} isn't it amazing how bailouts became routine, and ESM became every day's necessity?
[15:28] {Threei} new norm
[15:32] {nemo} that was a good insult Vad..having said the (expletive deletive) it's up $1.25 since I alerted
[15:33] {nemo} $1.50
[15:33] {Threei} hey... I value good insult higher
[15:34] {nemo} Believe me, you should bring that one out again
[15:34] {nemo} gun-toting bunny-friending, FIBONACCI ASSED Pivot pointer?
[15:35] {RonS} dunno, never seen his or your rears...
[15:36] {nemo} oy frickin'
[15:36] {nemo} vay
[15:36] {RonS} jus sayin....the rest we know is true...
[15:36] {RonS} :D
[15:38] {Threei} ok... watching TZA for the last trade
[15:39] {Threei} Long Setup: TZA .50 break
[15:39] {Threei} half lot
[15:39] {Threei} half out
[15:39] {Threei} .64
[15:39] {Threei} out in full
[15:39] {Threei} .75
[15:40] {Threei} how's that for instant gratification?
[15:40] {Threei} news
[15:40] {Threei} (GE) GErmany said to have rejected measure to provide the ESm with a banking license
[15:49] {Threei} [15:14] {Threei} if today is repetition of latest way to end the day, we will get some rumor or prtened news, some buying, then selloff on denial
[15:49] {Threei} to the letter'
[15:50] {_michael} Very impressive
[15:51] {Threei} ty
[15:52] {nemo} O.K. so I shut up about the short setup of SPY and IWM hitting their VWAPs simultaneously
[15:52] {Threei} years of being in this day after day do count for something eh
[15:52] {Threei} no... by all means provide those
[15:53] {Threei} they are helpful
[15:53] {nemo} nobody listens...sniff sniff
[15:53] {Threei} welcome to my world
[15:53] {nemo} guess I'll have to become a democrat
[15:53] {Threei} let's call it Cassandra Syndrome
[15:53] {nemo} TZA for a buck
[15:54] {nemo} that's $2.50 on two trades in less than an HOUR!!!!!!
[15:54] {Threei} hey, it was a good historic reference
[15:54] {nemo} yes, very nice
[15:54] {Threei} and I havent made any single mistype in it
[15:55] {Threei} wow. double achievement
[15:55] {Threei} 6:6... 100% day
[15:55] {Threei} ok guys, tiomorrow promiszes to be very interesting
[15:55] {Threei} looking forward, get a bag of popcorn
[15:55] {nemo} Alright...off to the gun shop
[15:55] {Threei} thank you all, jave a fgood evening
[15:55] {Threei} see you tomorrow
[15:55] {_michael} thanks for a great day
[15:55] {Threei} very welcome
6 calls, 6 wins - who said it's a tough market? As long as you pick your battles carefully... Tomorrow will be very interesting day.
Session Time: Thu Dec 08 00:00:00 2011
[08:33] {Threei} (EU) ECB Draghi: To offer further liquidity measures
[08:34] {nemo} http://www.cbsnews.com/8301-31727_162-57338546-10391695/documents-atf-used-fast-and-furious-to-make-the-case-for-gun-regulations/
[08:34] {nemo} kinda' what I've been thinking for quite a while
[08:43] {Threei} *(US) INITIAL JOBLESS CLAIMS: 381K V 395KE; CONTINUING CLAIMS: 3.583M V 3.70ME- Prior Initial Claims revised higher from 402K to 404K - Prior Continuing Claims higher from 3.74M to 3.757M
[08:43] {Threei} (EU) Finland European Min: Many indications that Europe will find a solution
[08:44] {Threei} translation: we may have located the can; we are arguing who will have to kick it
[09:01] {Threei} entusiasm was not very long-lived
[09:06] {Threei} funny enough, while politicians bicker how to save euro, banks prepare to exit it
[09:06] {Threei} Some European Central Banks considering reviving currencies based on pre-euro currency notes - financial press
[09:06] {Threei} - Some Europe Central Banks considering possible contingency plans for possible EU exit, entire break-up.
[09:06] {Threei} - At least one Europe Central Bank thinking about securing more printing presses.
[09:06] {Threei} - Several non-euro Europe Central Banks are thinking about possible replacements for euro external reference point.
[09:06] {Threei} - Says the Swiss National Bank (SNB) is considering possible replacements for the euro as the external reference point (peg) it uses.
[09:06] {Threei} - Ireland Central Bank officials have held early stage talks about whether they could have to buy additional printing capabilities if the EU falls apart.
[09:06] {Threei} - Notes that the Bank of England (BoE) has taken steps to make sure that its ability to print currency is not comprised, if EU central banks rush to print currencies.
[09:10] {Threei} EUR/USD Euro at session lows as dealers focus Draghi's comment treaty does not permit monetary financing of governments. (related
[09:10] {Threei} (EU) UK PM Cameron: Will have no hesitation in vetoing 27-member treaty if deal is not good for Britain
[09:11] {Threei} (IT) Italy 10-year gov't yields approach 6.20%, higher by almost 20bps
[09:11] {Threei} reading EU headlines today and tomorrow may become a full time job
[09:14] {Threei} Rasmusses figured out the way to calculate percentage of people who don't know the word "history":
[09:14] {Threei} 26% Prefer Government-Managed Economy
[09:14] {Threei} the share of imbeciles is scary high, don't you think
[09:28] {nemo} hey folks..updated the post from Tuesday with a jpg of yesterday...you might like to take a look at it..hehehehehe
[09:29] {Threei} make it easy on us and give us a link, will ya...
[09:30] {Threei} keeping COST on a radar
[09:31] {Threei} FCX, looking for bounce to short
[09:31] {Threei} missed .40 break
[09:31] {Threei} grr
[09:31] {Threei} FCX, come back to pick us up
[09:33] {Threei} SLW
[09:33] {Threei} 33 break short
[09:33] {Threei} Short Setup: SLW 33 break if stays under .10
[09:34] {Threei} invalidated
[09:35] {nemo} this better: http://tradinglog.realitytrader.com/2011/12/nemos-midweek-findings-redux.html
[09:36] {Threei} Short Setup: COST 85 break half lot
[09:36] {nemo} spy at significant support
[09:36] {Threei} if stays under .15
[09:37] {Threei} invalidated
[09:38] {Threei} Short Setup: FCX .80 break
[09:38] {Threei} stop .86
[09:39] {Threei} target about .55, three partials
[09:41] {Threei} cover first piece here, near .70
[09:41] {Threei} don't trail stop yet for the balance
[09:42] {Threei} worst case scenario, it will be a wash
[09:43] {Threei} if missed first chance to cover, here it is again
[09:43] {Threei} after .70 break trail stop to .81
[09:43] {Threei} second partial here
[09:43] {Threei} .62
[09:44] {Threei} hit .56, 1 cent from target... I was a bit slow
[09:44] {Threei} anyway, stop is still .81 for the last part
[09:45] {Threei} out
[09:46] {Threei} Short Setup: JPM 33 break
[09:46] {Threei} if stays under .10
[09:47] {Threei} invalidated
[09:47] {Threei} that's what, 3rd invalidation today?
[09:48] {Threei} sign of listless trading
[09:48] {Threei} Short Setup: MON .40 break half lot
[09:48] {Threei} if stasys under .55
[09:49] {Threei} call for you cipher
[09:49] {Threei} 1:1
[09:51] {Threei} (FR) French/German Gov't bond spread at approx 120bps, wider by almost 10bps
[09:53] {Threei} Short Setup: SLW 33 break
[09:54] {Threei} if stays under .10
[09:55] {Threei} MON gave second entry at the same price... looked away for a second
[09:56] {Threei} see that doji just above .40?
[09:56] {Threei} that was the entry signal... from the last section of the new course
[09:56] {Threei} OK SLW, let's do it
[09:57] {Threei} bees do it....
[09:58] {Threei} this stall is not typical for this time of the day in down market
[09:58] {Threei} should resolve violently
[09:58] {Threei} my best guess is, to the downside
[09:59] {Threei} SLW, target's 1:3
[10:00] {Threei} *(US) OCT WHOLESALE INVENTORIES: 1.6% V 0.3%E
[10:00] {Threei} .95 is last line of defense
[10:00] {Threei} Maginot line so to speak
[10:03] {Threei} broken
[10:03] {nemo} french punted again?
[10:03] {Threei} let's the panic begin
[10:03] {Threei} 1:1
[10:03] {Threei} standard procedure
[10:04] {Threei} 1:2
[10:11] {Threei} out last piece on a trail
[10:11] {Threei} OK, you can breathe now...
[10:11] {Threei} anyone is conscious?
[10:12] {Threei} knock knock... is this thing on?
[10:12] {cipher} just came in.... got delayed
[10:12] {cipher} car service apptmt
[10:12] {Threei} 3 for 3, no single word for 40 min
[10:12] {Threei} too bad... MON call was just for you
[10:13] {cipher} i saw... too bad i coudn't participate ;(
[10:16] {RonS} jwm sm s .38
[10:16] {RonS} jwn
[10:18] {Threei} Short Setup: JPM 33 break
[10:18] {Threei} couple setups today are like deja vu
[10:20] {Threei} (PO) Portugal PM: Reforms in Portugal will move beyond terms of the bailout program
[10:20] {Threei} while Portugal itself will move to some other continent
[10:22] {dino} cov jwn .10, +.25 ty ron
[10:22] {Threei} nice
[10:22] {Threei} nice
[10:22] {Threei} sorry double
[10:23] {Threei} RE distractions again dino?
[10:23] {dino} yes
[10:23] {Threei} (BR) Brazils Fin Min Mantega: Any aid to be provided towards the EU crisis is conditioned upon further action by the Governments in the EU
[10:23] {Threei} there is something horribly wrong about the idea of Brasil helping EU
[10:25] {patience} good morning
[10:26] {Threei} morning partience
[10:30] {Threei} let's scratch JPM
[10:31] {Threei} lost read on it, too jellyfishy
[10:31] {Threei} (EU) EBA stress test said to put total capital shortfall at �114.7B
[10:31] {Threei} peanuts
[10:32] {RonS} out jwn .08 +.30
[10:32] {Threei} nice find
[10:33] {patience} nice Ron
[10:34] {RonS} ty...wanted more...
[10:34] {Threei} don't we all
[10:34] {Threei} yet we settle
[10:34] {Threei} JPM scratch was a good idea
[10:35] {Threei} normally I don't intervene in natural course of the trade letting it resoolve itself,
[10:35] {Threei} but this one fell into category:
[10:35] {Threei} do not short a dull market
[10:36] {Threei} and it became just that
[10:37] {thomcbell} y - with that multiple day + intraday setup in slw with silver tanking and market getting whacked and we only got 30 cents
[10:47] {dino} hitk sm l .15
[10:47] {RonS} brilliant: BANK OF CANADA: very high risks Canada to be hurt if debt crisis worsens
[10:48] {Threei} value added
[10:49] {dino} lol
[11:01] {Threei} shapeless market at this point... something needs to start happening
[11:02] {_michael} jpm made a double top at 10:53. why no trade
[11:02] {Threei} too narrow
[11:02] {_michael} K
[11:03] {Threei} Merkel, Sarkozy to meet before summit dinner
[11:03] {Threei} hmmm... what do they do Europe for appetizers , or pre-dinner drink?
[11:10] {Threei} watching FAZ for pullback entry
[11:10] {Threei} around .55 - .60
[11:15] {Threei} (US) Senate Republicans block confirmation of Pres Obama's nominee for head of consumer protection bureau through filibuster- President Obama schedules statement to address blockage
[11:15] {Threei} sigh
[11:23] {Threei} Long Setup: FAZ .75 break
[11:23] {Threei} invalidated
[11:23] {Threei} .70 break now
[11:24] {Threei} stop under .60
[11:25] {Threei} trail to .64
[11:25] {Threei} 1:1
[11:25] {Threei} half out here
[11:25] {Threei} scalpers be happy
[11:25] {Threei} trail to balance to .68
[11:27] {Threei} want to try for milk trade with this one
[11:27] {Threei} offer 1/4 more around .95
[11:28] {Threei} and trail for the rest for 40 break and sharp spike
[11:28] {Threei} 1/4 more out
[11:28] {Threei} +.19
[11:28] {Threei} u,,
[11:28] {Threei} +.24
[11:29] {Threei} stop b/e
[11:29] {Threei} let's see if we can get real move out of this
[11:29] {Threei} about 20-30 cents more
[11:30] {Threei} 1:3
[11:32] {RonS} dino, see an entry for IVC?
[11:32] {Threei} anyone is in FAZ still?
[11:33] {Threei} or was?
[11:33] {Threei} why do I bother... bunch of sleepyheads
[11:34] {dino} no let me look
[11:34] {_michael} last 1/3 out at 39.98
[11:34] {Threei} whew... someone listens
[11:34] {_michael} great trade
[11:34] {Threei} ty
[11:36] {dino} ivc, gut around 15 as exp next week
[11:37] {dino} news not good
[11:37] {Threei} good boy FAZ
[11:38] {dino} or maybe sm l break .60, that was recent r
[11:38] {Threei} out .24
[11:38] {Threei} +.48
[11:38] {dino} 07 red
[11:38] {Threei} whe the plan comes together like this...
[11:38] {RonS} thnks dino
[11:38] {_michael} went back in at 40.02 FAZ is my buddy
[11:38] {Threei} lol... you have a strange choice of friends but whatever works
[11:38] {Threei} better than nemo's anyway
[11:38] {Threei} he has a bunny for a friend
[11:39] {_michael} LOL
[11:39] {Threei} so, according to some estimates
[11:40] {Threei} about 700 B euros of EU debt maturities have to be rolled over in 2012,
[11:40] {Threei} about 250 in firast Q alone,
[11:40] {Threei} and all they could refinance last month was 9B
[11:41] {Threei} this is so over..
[11:41] {RonS} simple really...have them call ese...
[11:42] {Threei} I dunno.. 300B, maybe 500B he could help them with... 700, I am not sure
[11:43] {RonS} ya, i hear ya...
[11:44] {Threei} president on TV, reminded me the words I grew to hate over last month or so:
[11:44] {Threei} "fair share"
[11:45] {dino} the "looters" language
[11:46] {Threei} looters and moochers
[11:46] {dino} who is john galt
[11:46] {Threei} I am afraid we will find out...
[11:47] {RonS} lol...more summits...: http://tinyurl.com/83h88oc
[11:57] {RonS} f news halt
[12:01] {RonS} Ford Motor: Qtrly Div Begins At Level Sustainable Through Economic Cycles 12/08 10:01 AM
[12:01] {RonS} Ford Motor: Made Progress In Cutting Debt, Generating Consistent Positive Earnings, Cash Flow 12/08 10:01 AM
[12:01] {Threei} F reinstated dividend
[12:02] {RonS} Ford Motor Resumes Dividend Of 5c }F 12/08 10:00 AM
[12:27] {Threei} (GE) Germany Chancellor: Euro has lost credibility; EU must restore the credibility, EMU needs rules to be more binding; this will be a step by step process
[12:27] {Threei} - Would like to see more powers from the EU commission and courts
[12:27] {Threei} - Reiterates work towards a significant step towards a stable union
[12:36] {Threei} who unplugged the market?
[12:37] {Threei} did Merkozy trip over the power plug?
[12:39] {Threei} sao, with many invalidated setups, those that triggered worked at 100%
[12:40] {Threei} question is, will something happen without news,
[12:40] {Threei} or we are to sit and wait for either news or for end of day activity as folks start position themselves for tomorrow
[12:41] {Threei} anyone has anything to share, feel free
[12:41] {Threei} anyone has any questions, ask them while nothing happens
[12:41] {Threei} otherwise I am in deep coma
[13:26] {RonS} dino, ltd
[13:27] {Threei} sheesh... woke me up
[13:27] {RonS} have a gong when someone posts?
[13:28] {Threei} no, but it was so quiet, the sound of letters appearing on the screen spooked me
[13:31] {dino} filled 12109 gap
[13:31] {dino} ltd12019 i mean
[13:32] {Threei} want something delicious?
[13:32] {Threei} http://www.youtube.com/watch?v=xm3VMrKqJSA
[13:32] {Threei} and
[13:32] {Threei} http://www.youtube.com/watch?v=buRO9TSlScQ
[13:37] {dino} ltd looks like ex div $2
[13:38] {RonS} ah...
[13:38] {Threei} isn't it amazing how white house is totally silent on the corzine issue?
[13:59] {Threei} lol, number of solutions is equal to the number of those who open theor mouth:
[13:59] {Threei} DK) Denmark PM: Prepared to contribute funds from the Central bank to the IMF to help deal with EMU crisis; could provide �5.4B under any such request- Sweden PM: No need to adjust treaty to fix crisis and Sweden wishes to be part of the crisis resolution; EFSF should be combined with the ESM to deal with the crisis. Would require too much time to change the EU treaty. - Finland PM: Supports stronger fiscal rules, could support adjustments to the treaty if deemed necessary
[14:27] {Threei} market can stays in such narrow range for so long... wow
[14:49] {Threei} Long Setup: TZA 29.05 break half lot
[14:49] {Threei} stop under .95
[14:51] {Threei} 1:1
[14:53] {Threei} 1:2\
[14:53] {Threei} like fish in a barrel
[14:53] {Threei} 5 out of 5
[14:54] {Threei} aside of long perdios of inactivity, it's quite easy market, believe it or not
[14:56] {Threei} I know everyone and their brother claim it's impossible to trade market, hardest in years, darn supercomputers etc etc... I have to call BS
[14:58] {patience} i agree with you Vad
[14:58] {patience} October and November have been good months
[14:58] {patience} I just had to trade when the market suited my style
[14:58] {Threei} that's very unfamiliar place to be... no one agreed with me about anything for the last, umm, 40+ years
[14:59] {patience} looking at booze, cigarettes, dollar store stocks for volume/and momo to build once market direction re-establishes itself
[15:00] {Threei} and guns if it doesn't
[15:00] {patience} forgot the defence sector
[15:00] {patience} but yes, last month gun sales were strong
[15:04] {nemo} watch these confluences coming up: http://www.freestockcharts.com?emailChartID=05f7d7f6-8b7d-4d26-9bab-fa9a746d447e
[15:12] {Threei} I had to rteread it twice
[15:12] {Threei} (US) Senate votes against move forward with Democrats proposal to extend payroll tax cut
[15:12] {Threei} democratic senate blocks democtartic propsal
[15:12] {Threei} OK... makes sense now
[15:13] {Threei} but hey, they don't discriminate:
[15:13] {Threei} (US) SEnate votes against move forward with Republican measure
[15:13] {Threei} maybe they are just having "against" day
[15:13] {Threei} now, this is something to decipher:
[15:13] {Threei} (EU) EU Summit Draft: EU leaders determined to preserve integrity of the union; Moving forward toward "new fiscal compact"
[15:14] {Threei} - Determined to bolster bailout mechanisms to address debt crisis challenges.
[15:14] {Threei} if today is repetition of latest way to end the day, we will get some rumor or prtened news, some buying, then selloff on denial
[15:20] {nemo} anybody buy tna?
[15:24] {Threei} kidding? no one taks to me, you expect them to ytalk to you, gun-touting bunny-friending pivot pointer?
[15:25] {cipher} lol
[15:25] {RonS} ohhh...the ultimate insult...pivot pointer
[15:25] {Threei} lol
[15:26] {Threei} (EU) EU Summit Draft: EU leaders determined to preserve integrity of the union; Moving forward toward "new fiscal compact"; Possibility of shift toward common eurozone debt issuance in LONG term should be considered
[15:26] {Threei} - Confirms to bring forward introduction of permanent ESM mechanism to Jul 2012; Existing EFSF fund to remain active until mid-2013.
[15:26] {Threei} - Permanent stability mechanism (ESM) to have maximum lending capacity of �500B.
[15:26] {Threei} - Determined to bolster bailout mechanisms to address debt crisis challenges.
[15:26] {Threei} - Evaluating new rule to make sure that budget deficits will not go above 0.5%/GDP.
[15:26] {Threei} - Sanctions to be imposed automatically on violators unless opposed by qualified majority vote.
[15:28] {Threei} isn't it amazing how bailouts became routine, and ESM became every day's necessity?
[15:28] {Threei} new norm
[15:32] {nemo} that was a good insult Vad..having said the (expletive deletive) it's up $1.25 since I alerted
[15:33] {nemo} $1.50
[15:33] {Threei} hey... I value good insult higher
[15:34] {nemo} Believe me, you should bring that one out again
[15:34] {nemo} gun-toting bunny-friending, FIBONACCI ASSED Pivot pointer?
[15:35] {RonS} dunno, never seen his or your rears...
[15:36] {nemo} oy frickin'
[15:36] {nemo} vay
[15:36] {RonS} jus sayin....the rest we know is true...
[15:36] {RonS} :D
[15:38] {Threei} ok... watching TZA for the last trade
[15:39] {Threei} Long Setup: TZA .50 break
[15:39] {Threei} half lot
[15:39] {Threei} half out
[15:39] {Threei} .64
[15:39] {Threei} out in full
[15:39] {Threei} .75
[15:40] {Threei} how's that for instant gratification?
[15:40] {Threei} news
[15:40] {Threei} (GE) GErmany said to have rejected measure to provide the ESm with a banking license
[15:49] {Threei} [15:14] {Threei} if today is repetition of latest way to end the day, we will get some rumor or prtened news, some buying, then selloff on denial
[15:49] {Threei} to the letter'
[15:50] {_michael} Very impressive
[15:51] {Threei} ty
[15:52] {nemo} O.K. so I shut up about the short setup of SPY and IWM hitting their VWAPs simultaneously
[15:52] {Threei} years of being in this day after day do count for something eh
[15:52] {Threei} no... by all means provide those
[15:53] {Threei} they are helpful
[15:53] {nemo} nobody listens...sniff sniff
[15:53] {Threei} welcome to my world
[15:53] {nemo} guess I'll have to become a democrat
[15:53] {Threei} let's call it Cassandra Syndrome
[15:53] {nemo} TZA for a buck
[15:54] {nemo} that's $2.50 on two trades in less than an HOUR!!!!!!
[15:54] {Threei} hey, it was a good historic reference
[15:54] {nemo} yes, very nice
[15:54] {Threei} and I havent made any single mistype in it
[15:55] {Threei} wow. double achievement
[15:55] {Threei} 6:6... 100% day
[15:55] {Threei} ok guys, tiomorrow promiszes to be very interesting
[15:55] {Threei} looking forward, get a bag of popcorn
[15:55] {nemo} Alright...off to the gun shop
[15:55] {Threei} thank you all, jave a fgood evening
[15:55] {Threei} see you tomorrow
[15:55] {_michael} thanks for a great day
[15:55] {Threei} very welcome
Multi Time-Frame Pivot Analysis Explanation
Multi Time-Frame Pivot Analysis
Many of you are familiar with Pivot Point analysis, which is a mathematical derivation based on previous price action. It defines levels of probability for likely future price action. Market Makers have often used Pivot Points across multiple time frames to find common adjacent levels between time frames that served as confluence zones - stronger levels of resistance or support ,than a single area alone.
Have you ever noticed that price stops or rises to a certain level that never particularly coincides with a previous level of support or resistance? Oftentimes you will find that those levels coincide with prices calculated as a multi-time frame level.
I regularly employ charts of the SPY and IWM that map these levels, along with significant Fibonacci retracements, to define levels that may affect price action should they reach those levels. Sometimes single levels end up affecting price action, many times, areas that contain multiple levels from multiple time zones, serve as confluence zones that are more likely to affect price.
Be warned, these levels are not predictive, but they do provide areas that may warrant your attention as price action approaches them. I will provide on a weekly basis, these levels for the SPY and IWM, and will hopefully provide a recap of how those levels played out at the end of the week for the SPY to illustrate the concept. So...
- Pivot levels will be demarcated in Yellow and noted as Weekly, Monthly, Quarterly, Semesterly, Yearly.
- Resistance levels will be in progressively darker blues. The darker the color, the longer the time-frame.
- Support levels will be in progressively darker reds.
- Fibonacci levels will be
◦ Red-most recent swing low or high
◦ Turquoise-from July '10 swing low
◦ White-from March '09 swing low to April '10 swing high
◦ Green- (SPY only) from 2007 high-2009 low.
Fibonacci retracements are subject to change so pay attention to the Fib tab in the chart
- The 50 SMA and 200 SMA will be labeled (remember these will change daily so you will need to import the format links to adjust them)
- I will also provide subjective price levels as defined by the price action..I have found that some price levels, contrary to “Candle Theory”, will continue to have some significance even after they have been eclipsed.
- You will also find links to import the format into Freestockcharts.com, and you may amend them as you see fit.
- I have also broken down the time-frames by tab from left to right.
- The farthest left tab is the composite chart of all levels combined.
- The second tab from the left are the weekly levels, the third-the monthly, etc.
- The next to last tab are the fib. retracements
- The last is the subjective price levels.
- The charts will look very busy on larger time-scales. They are primarily designed to be used for the upcoming week. The 15-30 minute scale is optimum.
Wednesday, December 7, 2011
Nemo's Midweek Findings Redux
(Participation in the room in real time requires membership. Free trial is available)
Hah! Was just gonna' do the video from yesterday, but today's action was so demonstrative of the strategy I wanted to post the charts. I called it out in the room early, but nobody listened....sniff...sniff
...nuff said..
Hah! Was just gonna' do the video from yesterday, but today's action was so demonstrative of the strategy I wanted to post the charts. I called it out in the room early, but nobody listened....sniff...sniff
...nuff said..
Dec 07 2011
(Participation in the room in real time requires membership. Free trial is available)
Nice and active day with many trades on both sides. Slowed down in afternoon of course but that's a trademark of late.
Session Time: Wed Dec 07 00:00:00 2011
[08:41] {nemo} rain, rain go away, I can't wait to kill deer until another day
[08:43] {Threei} this is second morning in row starting with murder talk
[08:44] {Threei} that's how you know nemo's in neiborhood
[08:44] {nemo} and poor spelling lets us know Vad is lurking
[08:44] {Threei} that's nopt bad spelling
[08:45] {Threei} that accent in a written form
[08:45] {nemo} that's my joke
[08:46] {Threei} no way
[08:46] {nemo} yep
[08:46] {Threei} then you stole it from me
[08:46] {Threei} and I am very grateul you didn't murder me first
[08:46] {nemo} too long a shot
[08:46] {Threei} probably joke wasn't all that valuiable
[08:47] {nemo} only with foreigners who can't spell
[08:53] {RonS} gm...classic...“The function of a ratings agency is to visit the field at the end of the battle and shoot the wounded.”
[08:53] {Threei} ron :)
[08:55] {RonS} Bloomberg news shreds the feds response: http://tinyurl.com/7of93g6
[08:55] {Threei} that's interesting
[08:55] {Threei} I was surprised by lack of reaction
[08:56] {nemo} you mean the government lied to us?
[08:56] {Threei} no... it just can't be
[08:56] {nemo} see where Putin wants the elections invalidated...hehehehehehe...he has to do a better job of rigging them
[08:57] {Threei} "oops... I underdecieved... let me try again"
[08:58] {nemo} Should be interesting next time I talk to Al, he usually talks to him every month or so
[09:00] {Threei} (EU) ECB said to be considering relaxing some rules on collateral regarding asset backed securities, as earlier speculated - financial press- ECB could allow additional uncovered bonds as collateral and two year loans for banking institutions
[09:00] {Threei} yeah, that'll help
[09:02] {Threei} huh
[09:02] {Threei} ron, you read bloomberg response?
[09:03] {Threei} I for one is underwhelmed
[09:04] {Threei} bloomberg in fact confirms that there were not all those insane trillions thrown around
[09:04] {Threei} and mostly argues about interpretation of the words and insignificant details
[09:11] {RonS} not insignificant to me that fed says it was clear in reporting to congress yet provided no details
[09:12] {RonS} it and the treasury are out of control in their opacity imo
[09:13] {nemo} all central banks are, but when you can just snap your fingers and money exists...
[09:15] {Threei} sure...
[09:15] {RonS} meanwhile a TED spread review is in order...look 1 yr chart: http://www.bloomberg.com/quote/!TEDSP:IND
[09:15] {Threei} but still... not 7.7T, let alone 16 or 33... and most of response comes to "we never said that"
[09:17] {RonS} means the credit market is not buying all of this euro zone fix doodoo
[09:17] {Threei} I would be disappointed in bind market intelligenece if they did
[09:17] {Threei} bond
[09:17] {Threei} they are supposed to be much more sphisticated than stock market participants
[09:18] {RonS} so the big Q is when will the equity markets adjust to the reality?
[09:19] {_morris541} excuse me, what is 7.7T?
[09:19] {Threei} to me, this is a case of "genuine news" for a stock market
[09:19] {Threei} what bind market knows, stock market waits to be told
[09:19] {Threei} and this friday will be critical
[09:19] {Threei} morris, Fed was accused of loaning 7.7T off the book
[09:20] {Threei} latest exchange between Fed and Bloomberg looks to show it never happened
[09:20] {_morris541} ok thanks.
[09:21] {swill} :)morning
[09:21] {Threei} swill :)
[09:23] {Threei} SLW is holding near flat while SPY is -.50
[09:23] {Threei} possible long candidate
[09:26] {Threei} although overall, feels like first theme of the day should be down
[09:27] {Threei} if FCX consolidates between 40.10 and .20, .10 break is a long trigger
[09:28] {Threei} first trade on FCX is half lot as always
[09:28] {_morris541} RonS
[09:28] {_morris541} TED spread from chart you posted is 54
[09:30] {Threei} Short Setup: FCX .10 break
[09:30] {Threei} if stays under .20
[09:30] {RonS} 54?
[09:31] {Threei} still valid
[09:31] {Threei} big bid at .12 will be indicative
[09:32] {Threei} target 1:2
[09:33] {Threei} Long Setup: SLW .55 break
[09:33] {Threei} FCX 1:1
[09:33] {Threei} play by the book
[09:34] {Threei} partial, trail
[09:34] {Threei} 1:2
[09:34] {Threei} feel free to be out in full
[09:34] {Threei} SLW invalidated
[09:35] {RonS} gj got .08 to .88 thanks 3i
[09:35] {Threei} :)
[09:35] {Threei} wow LLY
[09:35] {Threei} where is dino, this is his client
[09:37] {RonS} JC Penny Buys a Piece of Martha Stewart; $MSO up 35%
[09:37] {cipher} ibm l .78
[09:37] {Threei} Long Setup: TNA .15 break half lot
[09:37] {Threei} stop under 45
[09:38] {Threei} no go
[09:38] {Threei} not a bounce time yet
[09:38] {cipher} stopped ibm -.16
[09:39] {nemo} tna now good risk
[09:39] {Threei} Long Setup: TZA 28 break
[09:40] {Threei} half lot
[09:40] {Threei} if holding above .90
[09:40] {nemo} two way?
[09:40] {Threei} no
[09:40] {Threei} 1:1... tough to execute
[09:41] {Threei} if you got it, aim for 1:3 with partials
[09:41] {Threei} if scalping, out at 1;1
[09:43] {nemo} watch .50 area on iwm .04 area spy for support
[09:44] {Threei} FCX held nicely on this market drop
[09:44] {cipher} cat l .11
[09:44] {Threei} looking for pullback entry
[09:45] {Threei} aww dino... found a trade for you while you weren't here... LLY
[09:45] {dino} side track day
[09:46] {cipher} out cat .38 +.27
[09:46] {Threei} well, to spoil your mood even more: yesterday you left 1 min before last winning call... t lift your mood" Ron did the same {G}
[09:46] {Threei} nice one cipher
[09:46] {cipher} thx
[09:47] {Threei} come on FCX, give us pullback
[09:48] {Threei} Short Setup: FCX .30 break
[09:48] {Threei} if stays under .40
[09:48] {Threei} invalidated
[09:49] {Threei} let'ss change it to .40 break
[09:49] {Threei} double top hunt
[09:49] {Threei} if stays under .50
[09:50] {Threei} target 1:2
[09:50] {cipher} cat l .12
[09:50] {Threei} 1:1, half out
[09:50] {Threei} scalpers be happy
[09:51] {cipher} ibm l .61
[09:52] {thomcbell} vad are u using 1 minute charts on these or 2 min
[09:52] {Threei} scalpers win
[09:52] {Threei} 1 min
[09:54] {cipher} cat stopped -.12
[09:55] {Threei} MIND dino
[09:55] {Threei} lost its... umm... never mind
[09:56] {Threei} Short Setup: TS 37 break half lot
[09:56] {cipher} cat l .86
[09:56] {Threei} if stays under .10
[09:57] {Threei} invalidated
[09:57] {Threei} Long Setup: TNA .65 break
[09:57] {Threei} ugh, late
[09:59] {Threei} fast morning
[09:59] {nemo} perfect bounce at .51 of IWM
[10:00] {Threei} let's see if TNA lets us in on pullback
[10:00] {cipher} out 1/2 cat .29 +.43
[10:00] {Threei} wtg
[10:01] {Threei} ok TNA
[10:01] {Threei} same setup
[10:01] {Threei} if stays above .50
[10:02] {cipher} mind l.76 sm
[10:03] {Threei} invalidated
[10:03] {Threei} still feels like long, just not sure about right entry
[10:05] {nemo} spy looks weak
[10:05] {Threei} not anymore
[10:05] {Threei} yeah
[10:06] {Threei} uncertain moment
[10:06] {Threei} still... long is what I am looking for here
[10:06] {nemo} worth it here with tight stop
[10:06] {Threei} Long Setup: FCX .40 break
[10:07] {Threei} if holding above .30
[10:07] {Threei} Long Setup: TNA .55 break
[10:07] {Threei} half lot
[10:07] {Threei} if stays above .40
[10:07] {nemo} vwap .53 on spy .88 on iwm
[10:08] {Threei} no go
[10:09] {cipher} out mind .04 +.30
[10:09] {Threei} not liking it... opening was easier
[10:09] {Threei} ahha
[10:09] {Threei} news
[10:10] {Threei} (EU) Germany adn France still said to be in disagreement on the ESM size of �500B
[10:11] {Threei} just in time to kill our long
[10:11] {Threei} look at this rinse
[10:15] {Threei} Short Setup: MOS .80 break
[10:15] {Threei} half lot
[10:17] {Threei} stop above .90
[10:17] {Threei} target 1:3
[10:17] {Threei} 1:1
[10:18] {Threei} .85 stop
[10:20] {Threei} 1:2
[10:20] {Threei} stop to .75 for the balance
[10:21] {Threei} 1:3, over and out
[10:21] {RonS} got mos .78 to .55 thanks 3i
[10:21] {Threei} welcome sir
[10:21] {Threei} 1:4
[10:21] {Threei} 1:5.... crying
[10:23] {Threei} (EU) Germany and France still said to be in disagreement on the ESM size of �500B - financial press
[10:23] {Threei} - France and Germany are in agreement in ruling out Euro bonds
[10:23] {Threei} - ECB assisting in formulating rules for stronger fiscal integration but no signal is expected until commitments on tighter fiscal discipline are finalized.
[10:23] {Threei} **REMINDER: earlier today, an unnamed German official was quoted as saying Germany insists on ESM staying below �500B in aid funds, and that talks in past days shown that some of the negotiators are not aware of the seriousness of the situation.
[10:24] {Threei} "solution friday" may turn out to be not
[10:24] {Threei} I am sure that's not english but it shoudl do
[10:26] {Threei} well... I have one consolation about MOS
[10:26] {Threei} look at the chart to see how we nailed the reversal
[10:26] {Threei} as close to perfect as it gets
[10:27] {nemo} watch .00 area IWM for bounce
[10:27] {_michael} I'm new to the room but I have to agree, impressive
[10:27] {Threei} ty
[10:27] {cipher} l mos .08
[10:27] {nemo} what? his English?
[10:27] {Threei} well, I am finishing the chapter on reversals in a new course, so it was a good fit
[10:27] {Threei} lol nemo
[10:28] {Threei} I am also proud of finding a chance to use word "pornigraphy" in chart reading course... try to and find legit way to insert it in such dry topic
[10:29] {nemo} wow...you are consistent
[10:29] {swill} back in about an hour
[10:30] {RonS} FLASH: Italian 10 Year Yield Breaks Above 6%
[10:30] {Threei} *(US) DOE CRUDE: +1.3M V -1ME; GASOLINE: +5.15M V +500KE; DISTILLATE: +2.53M V +1ME; UTILIZATION: 87.7% V 85.2%E
[10:31] {_morris541} where will the chapter on reversals be found please?
[10:31] {RonS} lol...guess am dense...every time i look at the oil report i am left thinking...so is that good or bad?
[10:32] {RonS} ...and conclude...yes
[10:33] {RonS} gj mos cipher
[10:33] {Threei} it's a part of a new course, http://www.realitytrader.com/111trades.html
[10:34] {Threei} Ron, the right answer is: it';s meaningless
[10:35] {_morris541} thanks
[10:35] {_morris541} i like these courses
[10:36] {nemo} why 111?
[10:36] {RonS} well...until it isn't 3i..."Energy Inventories Build Unusually Higher Than Expected and More Than Normally Seen During This Period"
[10:37] {Threei} because that's how many of them are in first part of the course nemo
[10:38] {nemo} watch IWM here for TNA also, 72.75 area on IWM is 50% retracement of July 10 bottom...that has been a big deal
[10:38] {Threei} still is ron... problem with those numbers is, they don't simply reflect inventory build-up depending on supply and demand,
[10:38] {Threei} they also reflect minutae fluctuations of tanker movements
[10:38] {nemo} it's also the Cushing Supply...there's no way to get supply out of there
[10:38] {nemo} watch Brent, that's more reflective of true prices
[10:39] {Threei} some of tankers got delayed by couple days for various reasons, boom, inventory is too low
[10:39] {cipher} out 1/2 mos .36 +.28
[10:39] {Threei} they are there next day, and numbers that were watched yesterday become absolutely irrelevant
[10:42] {cipher} cat l .17
[10:43] {Threei} trying to get a feel whether we found floor or more downside in cards
[10:43] {thomcbell} FDX strong
[10:44] {thomcbell} aapl no buyers
[10:45] {RonS} ok, makes sense...but if you keep posting it i will forget all of this and think...so, is that good or bad?
[10:45] {RonS} :D
[10:46] {Threei} hmmm... I am not sure what you are asking about
[10:46] {Threei} {GGG}
[10:46] {thomcbell} me
[10:46] {Threei} no, ron
[10:46] {RonS} driv turning into drivel...new 52 wk low...trading at 84% of cash and book
[10:47] {Threei} he is taxing my memory to the limit by making me remember the topic of exchange for more than 1 min
[10:48] {RonS} am talking about myself 3i...when you post the report again next week...
[10:48] {Threei} yes, but I don't remember what report we are talking sbout
[10:49] {Threei} Long Setup: SLW .20 break
[10:49] {cipher} out rest mos .59 +.51
[10:49] {Threei} if stays above .10
[10:49] {Threei} wtg cipher
[10:49] {cipher} thx
[10:49] {Threei} squeezing every drop out of them
[10:50] {Threei} see this stubborn seller ast .20?
[10:51] {Threei} acts like a dam
[10:51] {Threei} if broken, stream should be powerful
[10:52] {RonS} thanks, need to go to the bathroom now...
[10:52] {Threei} lol
[10:52] {Threei} sorry
[10:55] {Threei} invalidated of course
[10:57] {Threei} http://tradinglog.realitytrader.com/2011/12/nemos-findings-midweek-update.html
[10:57] {Threei} pivot point update
[10:57] {Threei} video too
[10:57] {nemo} he's such a schmuck
[10:57] {Threei} but if you are scared to see nemo himself, fear not
[10:58] {nemo} most you'll ever see is bunny
[11:05] {Threei} that was floor, but bounce was so slow and with no pace changes, it was next to impossible to call it with any degree of confidence
[11:06] {nemo} ahhem...
[11:06] {Threei} French PM: There Will Never Again Be A Partial Default In Euro Zone / ECB Has Been Most Courageous Institution During Crisis
[11:06] {nemo} '[10:27] {nemo} watch .00 area IWM for bounce
[11:06] {Threei} that's a very bold statement
[11:07] {RonS} ...the guy is channeling napoleon
[11:07] {RonS} before waterloo...
[11:07] {Threei} lol
[11:07] {Threei} wait
[11:07] {Threei} he says there won't be a PARTIAL default
[11:08] {Threei} maybe he means only full blown ones from now on?
[11:09] {Threei} Short Setup: MON .70 break
[11:09] {Threei} if stays under .80
[11:10] {Threei} target 1:3
[11:10] {Threei} play by the book
[11:11] {Threei} 1:1
[11:12] {Threei} .60 is a critical support for MON
[11:12] {Threei} lose it and all hell will break loose
[11:12] {Threei} Ron, are you proud of me? I used both these words in one senetcne, and did it right
[11:13] {Threei} not that I could type "sentence"
[11:13] {Threei} 1:2 baby
[11:13] {RonS} perfect...larisa would be proud...
[11:14] {Threei} yeah... where di she disasppeared again
[11:14] {cipher} MON beauty
[11:14] {Threei} sure is
[11:14] {thomcbell} lovely really
[11:14] {Threei} nears on 1:3
[11:14] {Threei} cover last part as you see fit
[11:14] {Threei} I am out
[11:15] {cipher} me too
[11:15] {cipher} I hate the company with passion
[11:15] {Threei} even if it has more in it, it becomes a bit unreadable here
[11:15] {cipher} glad I could short it
[11:15] {Threei} hehe
[11:15] {Threei} here is 1:3
[11:16] {Threei} you haven't had any reservations about shorting MOS earlier, so IK guess you don't discrimante much :)
[11:16] {cipher} you mean longin it
[11:16] {Threei} lord... I really type like seal with his fins today
[11:17] {cipher} I guess I didn't discriminate :-)
[11:17] {cipher} raping it both ways :-)
[11:18] {Threei} nemo, thank you for not zeroing in on "today" in above
[11:18] {nemo} too easy a target
[11:20] {Threei} since when it's a reason not to shoot...
[11:21] {nemo} fine...
[11:22] {Threei} (GE) Germany Fin Min: Evaluating possibly forcing banks to recapitalize - Germany press
[11:22] {RonS} ...back to the brown shirts?
[11:22] {Threei} looking at SLW, how on earth did we miss .10 long
[11:22] {Threei} clean double bottom
[11:23] {Threei} grrr
[11:24] {Threei} I guess ron... how do you force them to recapitalize? what if they can't raise any more capital?
[11:28] {dino} then govt buys stock/bonds, just as they did in us w/aig, c, etc
[11:29] {Threei} yeah... welcome to the wrld of financial innovation
[11:29] {dino} they seem to be slowly following our tarp plan
[11:29] {Threei} where there are no risks
[11:29] {thomcbell} wow
[11:29] {thomcbell} fcx
[11:41] {Threei} Short Setup: FCX .65 break
[11:42] {Threei} stop above .75
[11:42] {Threei} notr sure about target, personal choice between scalp and partial/trail
[11:43] {Threei} nice clean double top... will finish writing about those today
[11:47] {Threei} notice how libertarian principles are kept alive in our room...
[11:47] {Threei} you have a personal choice between scalping and trying for more
[11:48] {Threei} Ron Paul would be proud
[11:48] {Threei} let's trail stop to .71
[11:49] {Threei} want to limit risk during lunch time trading
[11:51] {_michael} wan't slw a good double top
[11:51] {Threei} it was
[11:51] {thomcbell} yy
[11:51] {Threei} .40 break was valid trigger
[11:51] {_michael} thanks just wanted to make sure I was getting this!
[11:52] {Threei} totally
[11:52] {Threei} visual opattern recognition in action
[11:52] {_michael} FCX seems stuck around market open price
[11:52] {Threei} after going over that course you'll see these patterns in a dish of oasta
[11:53] {Threei} pasta
[11:53] {_michael} Coolio
[11:53] {Threei} stripes on salmon's side
[11:53] {Threei} ripples on the lake
[11:54] {Threei} finally FCX
[11:54] {Threei} 1:1
[11:54] {Threei} took its sweet time
[11:54] {Threei} SLW certainly would havee been more efficient short
[11:55] {Threei} even though its today's range is narrower
[11:55] {Threei} go figure
[11:55] {Threei} that was the reason I picked FCX
[11:56] {Threei} 50 cents SLW, 90 cents FCX - from which one would you expect faster move?
[11:56] {_michael} clearly fcx
[11:56] {Threei} and yet
[11:56] {Threei} just shows, logic is, well
[11:57] {Threei} as Solomon Short famously said, Common sense isn't
[11:58] {RonS} so, what did Levi Long say?
[11:58] {_morris541} nothing
[11:59] {_morris541} but his wife said a lot
[11:59] {Threei} rofl
[11:59] {RonS} lol
[11:59] {Threei} this is delightfully plotically incorrect
[12:00] {Threei} I fewel new friendship is being froged... nemo and morris
[12:00] {Threei} forged... sheesh
[12:00] {cipher} l ibm 00
[12:01] {cipher} out .15
[12:01] {Threei} lol... you don't fool around
[12:01] {cipher} nope
[12:01] {cipher} had a target before the fill
[12:02] {Threei} dino's favorite "money on the pavement" concept
[12:02] {cipher} aka atm
[12:02] {cipher} ibm very tough to scalp
[12:02] {cipher} cat much easier
[12:07] {Threei} Short Setup: LLY .60 break
[12:08] {Threei} if stays under .65
[12:10] {Threei} target closer to .40, 2 partials
[12:11] {Threei} where is ese? he would have played this one with 10K shares for 5 cents scalp
[12:12] {cipher} mon selling again
[12:13] {Threei} sweet vengeance, eh?
[12:13] {cipher} :-)
[12:13] {cipher} wish i was aboard :(
[12:16] {Threei} there is a section in Taoist Trader course on tarding decision made under influence of emotions about company or industry
[12:17] {Threei} ethicsm morlas, political inclinations
[12:17] {Threei} will try to find it ater finishing LLY
[12:19] {Threei} first partial about here, LLY
[12:21] {Threei} OK, quote
[12:21] {Threei} How much difference is there?
[12:21] {Threei} Between "good" and "evil"
[12:21] {Threei} Many erroneous ways to deal with market reality stem from stubborn and dogmatic attempts to assign �right� and wrong� labels to various actions. There are endless examples of such simplistic one-dimensional approaches. Unsophisticated commentators and traders expect the price to drop on any bad news and advance on good news. Opposite price action is being labeled as �wrong� and called manipulation.
[12:21] {Threei} blah blah,
[12:22] {Threei} Another frequently observed error is expectation that the market should act according to one�s ethical principles. A trader projecting his views of good and bad on the market expects the price to reflect such views. Needless to say, there are many market factors in play that have little if anything to do with ethics. To cite a few glaring examples of irrelevant views on the market:
[12:22] {Threei} - shorting tobacco company stocks because smoking is a bad habit;
[12:22] {Threei} - shorting oil-related company stocks because they pollute and use up the non-renewable resources;
[12:22] {Threei} - shorting gun manufacturer stocks because guns are evil;
[12:22] {Threei} - buying alternative energy company stocks because they produce clean energy and use renewable sources.
[12:22] {Threei} While any of these directions may be and often are profitable, such trading decisions should not be made on ethics based grounds. In most cases, very different reasons cause price change, and most of them have nothing to do with �good� or �bad.� Now, if an investor refuses to put his capital in stocks of the companies whose products contradict his moral views because he doesn�t want to support them � it�s a perfectly acceptable approach; it, however, is different than expecting the price to follow one�s morals.
[12:22] {Threei} end of quote
[12:23] {Threei} wait, one mre piece
[12:23] {Threei} One more often seen example of imposing moral views on the market action is an attitude toward shorting. Sometimes labeled as an anti-patriotic activity, shorting is viewed by some as harmful and unethical, as �betting on failure.� In reality of course it�s nothing of the sort � it�s simply recognition of the natural patterns we discussed earlier, particularly in Chapter 16 Knowing the Eternal Law.
[12:23] {Threei} Such mistaken attitudes toward shorting also ignores the fact that shorting provides the balance to price action and softens future declines, since every short position holder is a future buyer. It�s important to understand from where such hostile perception of the shorting comes. The majority of individual traders and, especially, investors prefer and understand the long side. It�s also a part of the propaganda by money managing machines
[12:23] {Threei} OK, enough :)
[12:25] {Threei} put you all to sleep?
[12:25] {RonS} thanks rev ike...
[12:26] {Threei} nothing's wrong with little afer-lunch nap
[12:26] {RonS} ya know, when i worked for the gas co during college summers, every morning before actually working we would read from the safety manual
[12:26] {cipher} s mon .49
[12:27] {RonS} it was like going to church...
[12:27] {Threei} if it saved ay single life, it was worth it...
[12:28] {RonS} ya, i actually thought it was good...helpful reminder
[12:28] {cipher} covered .43 +.06
[12:28] {RonS} and btw rev ike was the original black tv evangelist in the '50's and 60's...the guy was a show...
[12:29] {Threei} that was pure moral satisfaction trade, cipher, lol
[12:31] {cipher} lol how did you know :)
[12:31] {cipher} couldn't resist raping it one more time
[12:32] {Threei} I just could encision that smirk on your face as you shirted it
[12:32] {cipher} you're damn right
[12:32] {Threei} oh boy... my typing hits new low today
[12:32] {Threei} just when I thought it was rock bottom
[12:33] {RonS} hey cipher...you need a better phrase...this is a mixed room and that word even makes me cringe
[12:33] {cipher} uh sorry
[12:34] {_morris541} do you think market will pull back test lows wonder
[12:35] {Threei} pretty much depends on whether we get new news from Europe
[12:35] {Threei} if not, we are likely to drift aimlessly
[12:36] {Threei} this week is fully about Europe
[12:36] {Threei} with Friday being culmination
[12:37] {Threei} (US) Senate Majority Leader Reid (D-NV): Congress will not leave for the holiday vacation until they pass the payroll tax cut extension
[12:37] {RonS} we can only wish...those bozos will come up with some excuse to drag it out some more...
[12:37] {Threei} what a dedication
[12:37] {Threei} could be
[12:37] {Threei} it's jjst that every time to drag it out more, market loses patience
[12:38] {Threei} realzation that solution may be unreachable becomes stronger every time they postpone it
[12:39] {Threei} look at this mixc of contradictions:
[12:39] {Threei} (SW) Sweden Fin Min: major changes to EU treaties would likely require national referendums, which would lead to greater uncertainty- Believe that stronger economic governance can be created under the existing treaties. - IMF could play a greater role in strengthening the euro zone firewall.
[12:39] {Threei} just yesterday Germany and France said new treaty is needed
[12:40] {Threei} and IMF role is a debate that involves much more than deciding between acronyms
[12:40] {Threei} ECB, EFSF, ESM, IMF
[12:41] {RonS} responding to Reid...House Leader Boehner: congeressional republicans are convening in hawaii to celebrate Christmas with out do nothing President
[12:41] {RonS} our
[12:43] {RonS} unreal...newt 2012 campaign keeps calling me...
[12:43] {Threei} to run as his vice-president?
[12:43] {RonS} caller id...not answering...
[12:44] {RonS} cabinet position...new...secretary of bitching...
[12:44] {RonS} might not get it...nemo in contention
[12:45] {Threei} hey, if you'll ever need an undersecretary of ranting, let me know
[12:45] {Threei} and pray nemo comes to interview sober
[12:45] {Threei} he is not as spectacular then
[12:47] {RonS} kinda good news for nemo...Harry Morgan, ‘M*A*S*H’ and ‘Dragnet’ Actor, Dies at 96
[12:47] {RonS} ...the guy was a huge boozer...
[12:55] {Threei} Short Setup: IBM .40 break
[12:55] {Threei} half lot
[12:55] {Threei} if stays under .50
[12:57] {Threei} very likely to invalidaye, but not often do we have a chance to play IBM with 10 cents stop
[13:06] {Threei} 1:1
[13:12] {dino} cov ibm .24, +.15 ty vad
[13:12] {Threei} welcome
[13:12] {Threei} I was just thinking, you are awfully quiet today
[13:12] {dino} real estate issues occupying me
[13:12] {Threei} you and 2/3 of US population
[13:13] {Threei} but unlike most, you make money on it, lol
[13:14] {Threei} so far, nice day
[13:14] {RonS} uhoh...: http://tinyurl.com/cocf8pg
[13:14] {Threei} couple stops didn't spoil it
[13:15] {Threei} it's the same diasagreement I posted earlier, I think
[13:15] {dino} gj
[13:15] {Threei} not a new one
[13:15] {Threei} otherwise we would see fresh wave of selling
[13:16] {Threei} look at this:
[13:16] {Threei} UAW Chief indicates there is no intention to organize against any foreign automaker at the moment; discussions with the foreign automakers with US factories continue- Remain ready to increase organization activities at foreign automaker plants if necessary
[13:16] {Threei} yes, let's kill whatever jobs still remain
[13:17] {Threei} Rome is burning, UAW fiddles...
[13:19] {cipher} l ibm .24
[13:19] {Threei} stop under .15?
[13:19] {cipher} out .33
[13:20] {cipher} changed my mind
[13:20] {Threei} man... you leave them no chance to exhale
[13:20] {cipher} ibm can be ruthless, learned the hard way
[13:21] {Threei} oh yes, sometimes very volatile
[13:21] {Threei} and many its competitors agree with you on ruthless part
[13:21] {cipher} when it goes it goes
[13:21] {cipher} but it's valid in both directions
[13:21] {Threei} International Business Machines Corp EU commission said to accept certain concessions from IBM in exchange for dropping anti trust lawsuit - financial press
[13:22] {dino} out lly .49, +.11 ty 3i
[13:24] {Threei} welcome
[13:28] {RonS} hal getting hammered
[13:34] {RonS} blago got 14 yrs...
[13:34] {Threei} wpw
[13:35] {RonS} long or short?
[13:35] {cipher} s hal .81 stop .86
[13:35] {nemo} well that was fun...o.k. going out to try and kill something in the rain
[13:36] {nemo} tomorrow we're hunting cranberry bogs
[13:36] {RonS} q...deer smell more or less when wet?
[13:37] {nemo} they smell the same, but they can't smell as well...scent is pulled to the ground by the rain
[13:37] {RonS} lol...talkin about thme stinkin not them selling
[13:37] {RonS} them
[13:38] {cipher} die hal
[13:38] {Threei} General Motors Corp CNBC's Lebeau: GM close to solution to fixing the Volt battery
[13:38] {Threei} wasn't there "nothing wrong" ewith battery?
[13:38] {RonS} my conclusion...if they have fix already there was really little wrong...
[13:40] {cipher} out hal +.05
[13:41] {Threei} they are "close to solution"
[13:41] {RonS} gm must be a european co these days...
[13:54] {RonS} oh no...Blagojevich will be sharing a cell with Rajaratnam, known by the guards as the "Rod and Raj Honeymoon Suite"
[13:54] {Threei} lol
[13:54] {Threei} Long Setup: TZA .40 break
[13:54] {Threei} if holding .30
[13:58] {Threei} invalidated
[13:58] {Threei} looking for different entry though
[13:58] {Threei} idea is there
[14:00] {cipher} l cat .19
[14:00] {Threei} (EU) IMF sets needs at $120B for additional resources related to EU loan facility
[14:00] {Threei} that's all?
[14:00] {Threei} pocket change for uncle ben
[14:07] {swill} back in 45
[14:07] {cipher} out cat -.09
[14:09] {Threei} well, TZA was right idea but entry proved elusive
[14:16] {cipher} l hal .44
[14:19] {cipher} stopped =.09
[14:43] {cipher} news?
[14:44] {RonS} wow royl
[14:44] {Threei} no news yet
[14:44] {RonS} $ROYL Wins Slope North Oil Shale Position
[14:44] {Threei} sharp drop looks new-driven
[14:45] {Threei} ahha, here it is
[14:45] {Threei} (EU) S&P places overall Euro ZOne AAA rating on watch negative after placing the member states ratings on watch negative on Dec 5
[14:45] {cipher} +.16 royl thx
[14:46] {Threei} so, the scenario grom now on is:
[14:46] {Threei} from
[14:46] {Threei} on Friday these guys wioll fail to produce anything really effective, and will postpone it once again,
[14:47] {Threei} but rating agencies will react on absence of action
[14:47] {Threei} and downgrades will send yeilds up again
[14:47] {Threei} CreditWatch placement on the eurozone member states was prompted by our concerns about the potential impact on these member states of what we view as deepening political, financial, and monetary problems within the eurozone.
[14:47] {Threei} - We expect to conclude our review as soon as possible after the European summit on Dec. 9, 2011. Depending on the outcome of our review of the ratings on eurozone member governments, we could lower the long-term rating on the EU by one notch, if any.
[15:05] {dino} ipgp drop
[15:06] {dino} sm l .33
[15:07] {Threei} IPG Photonics Weakness being attributed to cautions comments at Barclays Conf- forecasted Q1 revenue to rise 5-10%
[15:08] {dino} ty
[15:09] {dino} out .82, +.49
[15:10] {cipher} nice fill, tried at .79 no luck
[15:10] {cipher} what ecn?
[15:12] {dino} ty
[15:12] {dino} smart x
[15:12] {cipher} cool I'll ut it on my preferred list
[15:14] {dino} s3 37.98
[15:17] {Threei} spike
[15:17] {Threei} no news
[15:17] {Threei} except meaningless blanter:
[15:17] {Threei} (NV) Netherlands PM: More automatic sanctions are needed; keeping the EU at 27 members is important
[15:19] {Threei} these are not technical moves
[15:21] {RonS} unreal...Oh my.... #MariaBartiromo just said that Barney Frank was 'not going down' quietly.
[15:21] {Threei} ummm
[15:22] {Threei} ok... lol
[15:22] {Threei} NYPD warns banks about letter bombs after device mailed to Deutsche Bank HQ in Germany
[15:23] {dino} roflol, and i bet at cnbc they are lol too
[15:23] {patience} ok, are things getting weirder or what?
[15:23] {cipher} wow royl
[15:26] {RonS} gs push
[15:34] {RonS} oh canada...http://tinyurl.com/ced3vta
03[15:35] * Retrieving #discussions modes...
[15:39] {Threei} wow
[15:39] {Threei} bout of optimism
[15:40] {Threei} I'd even call it spasm of enthusiasm
[15:40] {patience} money into commodities and cdn banks
[15:41] {Threei} oh boy
[15:41] {Threei} (EU) G20 nations considering varuous IMF lending programs for Europe, may add to firepower - japan press
[15:41] {Threei} that's all??
[15:41] {Threei} ok... watching TZA for entry
[15:42] {Threei} half lot
[15:42] {Threei} Long Setup: TZA .75 break
[15:42] {Threei} stop under .65
[15:43] {Threei} no go
[15:44] {Threei} rinse
[15:44] {Threei} grr
[15:46] {RonS} enough to piss off the pope...
[15:47] {Threei} yeah, this is bad manners on TZA part
[15:49] {Threei} one of those cases when you hate your own discipline, lol
[15:52] {Threei} ok guys, thank you all
[15:52] {Threei} have a good evening, see you tomorrow
[15:52] {patience} ty vad
[15:53] {cipher} IPGP BLOOD
[15:53] {cipher} sorry caps
[15:58] {_beaujo} OK to ask a question now about this room's configuration?
[15:58] {Threei} sure
[15:59] {Threei} uh oh
[15:59] {Threei} *CNBC LIESMAN: IMF DENIES LATEST REPORT FROM NIKKEI ON IMF ASSISTANCE
[15:59] {Threei} unbelieavable
[15:59] {Threei} they need to cork it
[16:00] {Threei} go ahead beaujo
[16:00] {_beaujo} First, I really enjoyed my first day here. Can I configure to stay live and not have the auto-left?
[16:01] {Threei} ythak you
[16:01] {Threei} you don't have to leave
[16:01] {Threei} our server doesn't require that
[16:01] {Threei} you can even leave it overnight
[16:02] {_beaujo} Three times today, (no relation to Threei) I was greyed out and had to get back in.
[16:03] {Threei} that was most likely related to connection slowdown
[16:03] {Threei} what server does is, it pings every member of the room regularly
[16:04] {_beaujo} seemed to be if I didn't click in window for a while.
[16:04] {Threei} and if someone's connection slowed down below certain threshol that makes it too removed from real time, server ddisconnects
[16:04] {Threei} these things are related mostly to configuration of your isp than our side
[16:04] {cipher} any idea what is the ping interval?
[16:04] {Threei} no, sorry
[16:05] {cipher} I got disco'ed couldn't get back for a while
[16:05] {Threei} but it has to be very severe lag for server to disconnect: 120 seconds
[16:05] {Threei} that practically means you would see a message 2 min later
[16:05] {cipher} yeah it took about 2 min to be able to get back
[16:05] {_beaujo} OK, we will see how it goes tomorrow. And want you to know, that this first day has been truely an excellent learning experience. Didn't make any money, but sure learned a lot.
[16:06] {Threei} great to hear
[16:06] {Threei} don't hesitate to ask questions
[16:06] {cipher} welcome to the room beaujo
[16:06] {Threei} first 30-40 min, we are trying to keep banter to minimum
[16:06] {cipher} I'm a newbie myself
[16:06] {Threei} after that, if you have a questjion, ask,
[16:06] {Threei} and if there is somethgn urgent, I will just answer it later
[16:07] {_beaujo} Fine. Thanks cipher. And is anyone using IB?
Nice and active day with many trades on both sides. Slowed down in afternoon of course but that's a trademark of late.
Session Time: Wed Dec 07 00:00:00 2011
[08:41] {nemo} rain, rain go away, I can't wait to kill deer until another day
[08:43] {Threei} this is second morning in row starting with murder talk
[08:44] {Threei} that's how you know nemo's in neiborhood
[08:44] {nemo} and poor spelling lets us know Vad is lurking
[08:44] {Threei} that's nopt bad spelling
[08:45] {Threei} that accent in a written form
[08:45] {nemo} that's my joke
[08:46] {Threei} no way
[08:46] {nemo} yep
[08:46] {Threei} then you stole it from me
[08:46] {Threei} and I am very grateul you didn't murder me first
[08:46] {nemo} too long a shot
[08:46] {Threei} probably joke wasn't all that valuiable
[08:47] {nemo} only with foreigners who can't spell
[08:53] {RonS} gm...classic...“The function of a ratings agency is to visit the field at the end of the battle and shoot the wounded.”
[08:53] {Threei} ron :)
[08:55] {RonS} Bloomberg news shreds the feds response: http://tinyurl.com/7of93g6
[08:55] {Threei} that's interesting
[08:55] {Threei} I was surprised by lack of reaction
[08:56] {nemo} you mean the government lied to us?
[08:56] {Threei} no... it just can't be
[08:56] {nemo} see where Putin wants the elections invalidated...hehehehehehe...he has to do a better job of rigging them
[08:57] {Threei} "oops... I underdecieved... let me try again"
[08:58] {nemo} Should be interesting next time I talk to Al, he usually talks to him every month or so
[09:00] {Threei} (EU) ECB said to be considering relaxing some rules on collateral regarding asset backed securities, as earlier speculated - financial press- ECB could allow additional uncovered bonds as collateral and two year loans for banking institutions
[09:00] {Threei} yeah, that'll help
[09:02] {Threei} huh
[09:02] {Threei} ron, you read bloomberg response?
[09:03] {Threei} I for one is underwhelmed
[09:04] {Threei} bloomberg in fact confirms that there were not all those insane trillions thrown around
[09:04] {Threei} and mostly argues about interpretation of the words and insignificant details
[09:11] {RonS} not insignificant to me that fed says it was clear in reporting to congress yet provided no details
[09:12] {RonS} it and the treasury are out of control in their opacity imo
[09:13] {nemo} all central banks are, but when you can just snap your fingers and money exists...
[09:15] {Threei} sure...
[09:15] {RonS} meanwhile a TED spread review is in order...look 1 yr chart: http://www.bloomberg.com/quote/!TEDSP:IND
[09:15] {Threei} but still... not 7.7T, let alone 16 or 33... and most of response comes to "we never said that"
[09:17] {RonS} means the credit market is not buying all of this euro zone fix doodoo
[09:17] {Threei} I would be disappointed in bind market intelligenece if they did
[09:17] {Threei} bond
[09:17] {Threei} they are supposed to be much more sphisticated than stock market participants
[09:18] {RonS} so the big Q is when will the equity markets adjust to the reality?
[09:19] {_morris541} excuse me, what is 7.7T?
[09:19] {Threei} to me, this is a case of "genuine news" for a stock market
[09:19] {Threei} what bind market knows, stock market waits to be told
[09:19] {Threei} and this friday will be critical
[09:19] {Threei} morris, Fed was accused of loaning 7.7T off the book
[09:20] {Threei} latest exchange between Fed and Bloomberg looks to show it never happened
[09:20] {_morris541} ok thanks.
[09:21] {swill} :)morning
[09:21] {Threei} swill :)
[09:23] {Threei} SLW is holding near flat while SPY is -.50
[09:23] {Threei} possible long candidate
[09:26] {Threei} although overall, feels like first theme of the day should be down
[09:27] {Threei} if FCX consolidates between 40.10 and .20, .10 break is a long trigger
[09:28] {Threei} first trade on FCX is half lot as always
[09:28] {_morris541} RonS
[09:28] {_morris541} TED spread from chart you posted is 54
[09:30] {Threei} Short Setup: FCX .10 break
[09:30] {Threei} if stays under .20
[09:30] {RonS} 54?
[09:31] {Threei} still valid
[09:31] {Threei} big bid at .12 will be indicative
[09:32] {Threei} target 1:2
[09:33] {Threei} Long Setup: SLW .55 break
[09:33] {Threei} FCX 1:1
[09:33] {Threei} play by the book
[09:34] {Threei} partial, trail
[09:34] {Threei} 1:2
[09:34] {Threei} feel free to be out in full
[09:34] {Threei} SLW invalidated
[09:35] {RonS} gj got .08 to .88 thanks 3i
[09:35] {Threei} :)
[09:35] {Threei} wow LLY
[09:35] {Threei} where is dino, this is his client
[09:37] {RonS} JC Penny Buys a Piece of Martha Stewart; $MSO up 35%
[09:37] {cipher} ibm l .78
[09:37] {Threei} Long Setup: TNA .15 break half lot
[09:37] {Threei} stop under 45
[09:38] {Threei} no go
[09:38] {Threei} not a bounce time yet
[09:38] {cipher} stopped ibm -.16
[09:39] {nemo} tna now good risk
[09:39] {Threei} Long Setup: TZA 28 break
[09:40] {Threei} half lot
[09:40] {Threei} if holding above .90
[09:40] {nemo} two way?
[09:40] {Threei} no
[09:40] {Threei} 1:1... tough to execute
[09:41] {Threei} if you got it, aim for 1:3 with partials
[09:41] {Threei} if scalping, out at 1;1
[09:43] {nemo} watch .50 area on iwm .04 area spy for support
[09:44] {Threei} FCX held nicely on this market drop
[09:44] {cipher} cat l .11
[09:44] {Threei} looking for pullback entry
[09:45] {Threei} aww dino... found a trade for you while you weren't here... LLY
[09:45] {dino} side track day
[09:46] {cipher} out cat .38 +.27
[09:46] {Threei} well, to spoil your mood even more: yesterday you left 1 min before last winning call... t lift your mood" Ron did the same {G}
[09:46] {Threei} nice one cipher
[09:46] {cipher} thx
[09:47] {Threei} come on FCX, give us pullback
[09:48] {Threei} Short Setup: FCX .30 break
[09:48] {Threei} if stays under .40
[09:48] {Threei} invalidated
[09:49] {Threei} let'ss change it to .40 break
[09:49] {Threei} double top hunt
[09:49] {Threei} if stays under .50
[09:50] {Threei} target 1:2
[09:50] {cipher} cat l .12
[09:50] {Threei} 1:1, half out
[09:50] {Threei} scalpers be happy
[09:51] {cipher} ibm l .61
[09:52] {thomcbell} vad are u using 1 minute charts on these or 2 min
[09:52] {Threei} scalpers win
[09:52] {Threei} 1 min
[09:54] {cipher} cat stopped -.12
[09:55] {Threei} MIND dino
[09:55] {Threei} lost its... umm... never mind
[09:56] {Threei} Short Setup: TS 37 break half lot
[09:56] {cipher} cat l .86
[09:56] {Threei} if stays under .10
[09:57] {Threei} invalidated
[09:57] {Threei} Long Setup: TNA .65 break
[09:57] {Threei} ugh, late
[09:59] {Threei} fast morning
[09:59] {nemo} perfect bounce at .51 of IWM
[10:00] {Threei} let's see if TNA lets us in on pullback
[10:00] {cipher} out 1/2 cat .29 +.43
[10:00] {Threei} wtg
[10:01] {Threei} ok TNA
[10:01] {Threei} same setup
[10:01] {Threei} if stays above .50
[10:02] {cipher} mind l.76 sm
[10:03] {Threei} invalidated
[10:03] {Threei} still feels like long, just not sure about right entry
[10:05] {nemo} spy looks weak
[10:05] {Threei} not anymore
[10:05] {Threei} yeah
[10:06] {Threei} uncertain moment
[10:06] {Threei} still... long is what I am looking for here
[10:06] {nemo} worth it here with tight stop
[10:06] {Threei} Long Setup: FCX .40 break
[10:07] {Threei} if holding above .30
[10:07] {Threei} Long Setup: TNA .55 break
[10:07] {Threei} half lot
[10:07] {Threei} if stays above .40
[10:07] {nemo} vwap .53 on spy .88 on iwm
[10:08] {Threei} no go
[10:09] {cipher} out mind .04 +.30
[10:09] {Threei} not liking it... opening was easier
[10:09] {Threei} ahha
[10:09] {Threei} news
[10:10] {Threei} (EU) Germany adn France still said to be in disagreement on the ESM size of �500B
[10:11] {Threei} just in time to kill our long
[10:11] {Threei} look at this rinse
[10:15] {Threei} Short Setup: MOS .80 break
[10:15] {Threei} half lot
[10:17] {Threei} stop above .90
[10:17] {Threei} target 1:3
[10:17] {Threei} 1:1
[10:18] {Threei} .85 stop
[10:20] {Threei} 1:2
[10:20] {Threei} stop to .75 for the balance
[10:21] {Threei} 1:3, over and out
[10:21] {RonS} got mos .78 to .55 thanks 3i
[10:21] {Threei} welcome sir
[10:21] {Threei} 1:4
[10:21] {Threei} 1:5.... crying
[10:23] {Threei} (EU) Germany and France still said to be in disagreement on the ESM size of �500B - financial press
[10:23] {Threei} - France and Germany are in agreement in ruling out Euro bonds
[10:23] {Threei} - ECB assisting in formulating rules for stronger fiscal integration but no signal is expected until commitments on tighter fiscal discipline are finalized.
[10:23] {Threei} **REMINDER: earlier today, an unnamed German official was quoted as saying Germany insists on ESM staying below �500B in aid funds, and that talks in past days shown that some of the negotiators are not aware of the seriousness of the situation.
[10:24] {Threei} "solution friday" may turn out to be not
[10:24] {Threei} I am sure that's not english but it shoudl do
[10:26] {Threei} well... I have one consolation about MOS
[10:26] {Threei} look at the chart to see how we nailed the reversal
[10:26] {Threei} as close to perfect as it gets
[10:27] {nemo} watch .00 area IWM for bounce
[10:27] {_michael} I'm new to the room but I have to agree, impressive
[10:27] {Threei} ty
[10:27] {cipher} l mos .08
[10:27] {nemo} what? his English?
[10:27] {Threei} well, I am finishing the chapter on reversals in a new course, so it was a good fit
[10:27] {Threei} lol nemo
[10:28] {Threei} I am also proud of finding a chance to use word "pornigraphy" in chart reading course... try to and find legit way to insert it in such dry topic
[10:29] {nemo} wow...you are consistent
[10:29] {swill} back in about an hour
[10:30] {RonS} FLASH: Italian 10 Year Yield Breaks Above 6%
[10:30] {Threei} *(US) DOE CRUDE: +1.3M V -1ME; GASOLINE: +5.15M V +500KE; DISTILLATE: +2.53M V +1ME; UTILIZATION: 87.7% V 85.2%E
[10:31] {_morris541} where will the chapter on reversals be found please?
[10:31] {RonS} lol...guess am dense...every time i look at the oil report i am left thinking...so is that good or bad?
[10:32] {RonS} ...and conclude...yes
[10:33] {RonS} gj mos cipher
[10:33] {Threei} it's a part of a new course, http://www.realitytrader.com/111trades.html
[10:34] {Threei} Ron, the right answer is: it';s meaningless
[10:35] {_morris541} thanks
[10:35] {_morris541} i like these courses
[10:36] {nemo} why 111?
[10:36] {RonS} well...until it isn't 3i..."Energy Inventories Build Unusually Higher Than Expected and More Than Normally Seen During This Period"
[10:37] {Threei} because that's how many of them are in first part of the course nemo
[10:38] {nemo} watch IWM here for TNA also, 72.75 area on IWM is 50% retracement of July 10 bottom...that has been a big deal
[10:38] {Threei} still is ron... problem with those numbers is, they don't simply reflect inventory build-up depending on supply and demand,
[10:38] {Threei} they also reflect minutae fluctuations of tanker movements
[10:38] {nemo} it's also the Cushing Supply...there's no way to get supply out of there
[10:38] {nemo} watch Brent, that's more reflective of true prices
[10:39] {Threei} some of tankers got delayed by couple days for various reasons, boom, inventory is too low
[10:39] {cipher} out 1/2 mos .36 +.28
[10:39] {Threei} they are there next day, and numbers that were watched yesterday become absolutely irrelevant
[10:42] {cipher} cat l .17
[10:43] {Threei} trying to get a feel whether we found floor or more downside in cards
[10:43] {thomcbell} FDX strong
[10:44] {thomcbell} aapl no buyers
[10:45] {RonS} ok, makes sense...but if you keep posting it i will forget all of this and think...so, is that good or bad?
[10:45] {RonS} :D
[10:46] {Threei} hmmm... I am not sure what you are asking about
[10:46] {Threei} {GGG}
[10:46] {thomcbell} me
[10:46] {Threei} no, ron
[10:46] {RonS} driv turning into drivel...new 52 wk low...trading at 84% of cash and book
[10:47] {Threei} he is taxing my memory to the limit by making me remember the topic of exchange for more than 1 min
[10:48] {RonS} am talking about myself 3i...when you post the report again next week...
[10:48] {Threei} yes, but I don't remember what report we are talking sbout
[10:49] {Threei} Long Setup: SLW .20 break
[10:49] {cipher} out rest mos .59 +.51
[10:49] {Threei} if stays above .10
[10:49] {Threei} wtg cipher
[10:49] {cipher} thx
[10:49] {Threei} squeezing every drop out of them
[10:50] {Threei} see this stubborn seller ast .20?
[10:51] {Threei} acts like a dam
[10:51] {Threei} if broken, stream should be powerful
[10:52] {RonS} thanks, need to go to the bathroom now...
[10:52] {Threei} lol
[10:52] {Threei} sorry
[10:55] {Threei} invalidated of course
[10:57] {Threei} http://tradinglog.realitytrader.com/2011/12/nemos-findings-midweek-update.html
[10:57] {Threei} pivot point update
[10:57] {Threei} video too
[10:57] {nemo} he's such a schmuck
[10:57] {Threei} but if you are scared to see nemo himself, fear not
[10:58] {nemo} most you'll ever see is bunny
[11:05] {Threei} that was floor, but bounce was so slow and with no pace changes, it was next to impossible to call it with any degree of confidence
[11:06] {nemo} ahhem...
[11:06] {Threei} French PM: There Will Never Again Be A Partial Default In Euro Zone / ECB Has Been Most Courageous Institution During Crisis
[11:06] {nemo} '[10:27] {nemo} watch .00 area IWM for bounce
[11:06] {Threei} that's a very bold statement
[11:07] {RonS} ...the guy is channeling napoleon
[11:07] {RonS} before waterloo...
[11:07] {Threei} lol
[11:07] {Threei} wait
[11:07] {Threei} he says there won't be a PARTIAL default
[11:08] {Threei} maybe he means only full blown ones from now on?
[11:09] {Threei} Short Setup: MON .70 break
[11:09] {Threei} if stays under .80
[11:10] {Threei} target 1:3
[11:10] {Threei} play by the book
[11:11] {Threei} 1:1
[11:12] {Threei} .60 is a critical support for MON
[11:12] {Threei} lose it and all hell will break loose
[11:12] {Threei} Ron, are you proud of me? I used both these words in one senetcne, and did it right
[11:13] {Threei} not that I could type "sentence"
[11:13] {Threei} 1:2 baby
[11:13] {RonS} perfect...larisa would be proud...
[11:14] {Threei} yeah... where di she disasppeared again
[11:14] {cipher} MON beauty
[11:14] {Threei} sure is
[11:14] {thomcbell} lovely really
[11:14] {Threei} nears on 1:3
[11:14] {Threei} cover last part as you see fit
[11:14] {Threei} I am out
[11:15] {cipher} me too
[11:15] {cipher} I hate the company with passion
[11:15] {Threei} even if it has more in it, it becomes a bit unreadable here
[11:15] {cipher} glad I could short it
[11:15] {Threei} hehe
[11:15] {Threei} here is 1:3
[11:16] {Threei} you haven't had any reservations about shorting MOS earlier, so IK guess you don't discrimante much :)
[11:16] {cipher} you mean longin it
[11:16] {Threei} lord... I really type like seal with his fins today
[11:17] {cipher} I guess I didn't discriminate :-)
[11:17] {cipher} raping it both ways :-)
[11:18] {Threei} nemo, thank you for not zeroing in on "today" in above
[11:18] {nemo} too easy a target
[11:20] {Threei} since when it's a reason not to shoot...
[11:21] {nemo} fine...
[11:22] {Threei} (GE) Germany Fin Min: Evaluating possibly forcing banks to recapitalize - Germany press
[11:22] {RonS} ...back to the brown shirts?
[11:22] {Threei} looking at SLW, how on earth did we miss .10 long
[11:22] {Threei} clean double bottom
[11:23] {Threei} grrr
[11:24] {Threei} I guess ron... how do you force them to recapitalize? what if they can't raise any more capital?
[11:28] {dino} then govt buys stock/bonds, just as they did in us w/aig, c, etc
[11:29] {Threei} yeah... welcome to the wrld of financial innovation
[11:29] {dino} they seem to be slowly following our tarp plan
[11:29] {Threei} where there are no risks
[11:29] {thomcbell} wow
[11:29] {thomcbell} fcx
[11:41] {Threei} Short Setup: FCX .65 break
[11:42] {Threei} stop above .75
[11:42] {Threei} notr sure about target, personal choice between scalp and partial/trail
[11:43] {Threei} nice clean double top... will finish writing about those today
[11:47] {Threei} notice how libertarian principles are kept alive in our room...
[11:47] {Threei} you have a personal choice between scalping and trying for more
[11:48] {Threei} Ron Paul would be proud
[11:48] {Threei} let's trail stop to .71
[11:49] {Threei} want to limit risk during lunch time trading
[11:51] {_michael} wan't slw a good double top
[11:51] {Threei} it was
[11:51] {thomcbell} yy
[11:51] {Threei} .40 break was valid trigger
[11:51] {_michael} thanks just wanted to make sure I was getting this!
[11:52] {Threei} totally
[11:52] {Threei} visual opattern recognition in action
[11:52] {_michael} FCX seems stuck around market open price
[11:52] {Threei} after going over that course you'll see these patterns in a dish of oasta
[11:53] {Threei} pasta
[11:53] {_michael} Coolio
[11:53] {Threei} stripes on salmon's side
[11:53] {Threei} ripples on the lake
[11:54] {Threei} finally FCX
[11:54] {Threei} 1:1
[11:54] {Threei} took its sweet time
[11:54] {Threei} SLW certainly would havee been more efficient short
[11:55] {Threei} even though its today's range is narrower
[11:55] {Threei} go figure
[11:55] {Threei} that was the reason I picked FCX
[11:56] {Threei} 50 cents SLW, 90 cents FCX - from which one would you expect faster move?
[11:56] {_michael} clearly fcx
[11:56] {Threei} and yet
[11:56] {Threei} just shows, logic is, well
[11:57] {Threei} as Solomon Short famously said, Common sense isn't
[11:58] {RonS} so, what did Levi Long say?
[11:58] {_morris541} nothing
[11:59] {_morris541} but his wife said a lot
[11:59] {Threei} rofl
[11:59] {RonS} lol
[11:59] {Threei} this is delightfully plotically incorrect
[12:00] {Threei} I fewel new friendship is being froged... nemo and morris
[12:00] {Threei} forged... sheesh
[12:00] {cipher} l ibm 00
[12:01] {cipher} out .15
[12:01] {Threei} lol... you don't fool around
[12:01] {cipher} nope
[12:01] {cipher} had a target before the fill
[12:02] {Threei} dino's favorite "money on the pavement" concept
[12:02] {cipher} aka atm
[12:02] {cipher} ibm very tough to scalp
[12:02] {cipher} cat much easier
[12:07] {Threei} Short Setup: LLY .60 break
[12:08] {Threei} if stays under .65
[12:10] {Threei} target closer to .40, 2 partials
[12:11] {Threei} where is ese? he would have played this one with 10K shares for 5 cents scalp
[12:12] {cipher} mon selling again
[12:13] {Threei} sweet vengeance, eh?
[12:13] {cipher} :-)
[12:13] {cipher} wish i was aboard :(
[12:16] {Threei} there is a section in Taoist Trader course on tarding decision made under influence of emotions about company or industry
[12:17] {Threei} ethicsm morlas, political inclinations
[12:17] {Threei} will try to find it ater finishing LLY
[12:19] {Threei} first partial about here, LLY
[12:21] {Threei} OK, quote
[12:21] {Threei} How much difference is there?
[12:21] {Threei} Between "good" and "evil"
[12:21] {Threei} Many erroneous ways to deal with market reality stem from stubborn and dogmatic attempts to assign �right� and wrong� labels to various actions. There are endless examples of such simplistic one-dimensional approaches. Unsophisticated commentators and traders expect the price to drop on any bad news and advance on good news. Opposite price action is being labeled as �wrong� and called manipulation.
[12:21] {Threei} blah blah,
[12:22] {Threei} Another frequently observed error is expectation that the market should act according to one�s ethical principles. A trader projecting his views of good and bad on the market expects the price to reflect such views. Needless to say, there are many market factors in play that have little if anything to do with ethics. To cite a few glaring examples of irrelevant views on the market:
[12:22] {Threei} - shorting tobacco company stocks because smoking is a bad habit;
[12:22] {Threei} - shorting oil-related company stocks because they pollute and use up the non-renewable resources;
[12:22] {Threei} - shorting gun manufacturer stocks because guns are evil;
[12:22] {Threei} - buying alternative energy company stocks because they produce clean energy and use renewable sources.
[12:22] {Threei} While any of these directions may be and often are profitable, such trading decisions should not be made on ethics based grounds. In most cases, very different reasons cause price change, and most of them have nothing to do with �good� or �bad.� Now, if an investor refuses to put his capital in stocks of the companies whose products contradict his moral views because he doesn�t want to support them � it�s a perfectly acceptable approach; it, however, is different than expecting the price to follow one�s morals.
[12:22] {Threei} end of quote
[12:23] {Threei} wait, one mre piece
[12:23] {Threei} One more often seen example of imposing moral views on the market action is an attitude toward shorting. Sometimes labeled as an anti-patriotic activity, shorting is viewed by some as harmful and unethical, as �betting on failure.� In reality of course it�s nothing of the sort � it�s simply recognition of the natural patterns we discussed earlier, particularly in Chapter 16 Knowing the Eternal Law.
[12:23] {Threei} Such mistaken attitudes toward shorting also ignores the fact that shorting provides the balance to price action and softens future declines, since every short position holder is a future buyer. It�s important to understand from where such hostile perception of the shorting comes. The majority of individual traders and, especially, investors prefer and understand the long side. It�s also a part of the propaganda by money managing machines
[12:23] {Threei} OK, enough :)
[12:25] {Threei} put you all to sleep?
[12:25] {RonS} thanks rev ike...
[12:26] {Threei} nothing's wrong with little afer-lunch nap
[12:26] {RonS} ya know, when i worked for the gas co during college summers, every morning before actually working we would read from the safety manual
[12:26] {cipher} s mon .49
[12:27] {RonS} it was like going to church...
[12:27] {Threei} if it saved ay single life, it was worth it...
[12:28] {RonS} ya, i actually thought it was good...helpful reminder
[12:28] {cipher} covered .43 +.06
[12:28] {RonS} and btw rev ike was the original black tv evangelist in the '50's and 60's...the guy was a show...
[12:29] {Threei} that was pure moral satisfaction trade, cipher, lol
[12:31] {cipher} lol how did you know :)
[12:31] {cipher} couldn't resist raping it one more time
[12:32] {Threei} I just could encision that smirk on your face as you shirted it
[12:32] {cipher} you're damn right
[12:32] {Threei} oh boy... my typing hits new low today
[12:32] {Threei} just when I thought it was rock bottom
[12:33] {RonS} hey cipher...you need a better phrase...this is a mixed room and that word even makes me cringe
[12:33] {cipher} uh sorry
[12:34] {_morris541} do you think market will pull back test lows wonder
[12:35] {Threei} pretty much depends on whether we get new news from Europe
[12:35] {Threei} if not, we are likely to drift aimlessly
[12:36] {Threei} this week is fully about Europe
[12:36] {Threei} with Friday being culmination
[12:37] {Threei} (US) Senate Majority Leader Reid (D-NV): Congress will not leave for the holiday vacation until they pass the payroll tax cut extension
[12:37] {RonS} we can only wish...those bozos will come up with some excuse to drag it out some more...
[12:37] {Threei} what a dedication
[12:37] {Threei} could be
[12:37] {Threei} it's jjst that every time to drag it out more, market loses patience
[12:38] {Threei} realzation that solution may be unreachable becomes stronger every time they postpone it
[12:39] {Threei} look at this mixc of contradictions:
[12:39] {Threei} (SW) Sweden Fin Min: major changes to EU treaties would likely require national referendums, which would lead to greater uncertainty- Believe that stronger economic governance can be created under the existing treaties. - IMF could play a greater role in strengthening the euro zone firewall.
[12:39] {Threei} just yesterday Germany and France said new treaty is needed
[12:40] {Threei} and IMF role is a debate that involves much more than deciding between acronyms
[12:40] {Threei} ECB, EFSF, ESM, IMF
[12:41] {RonS} responding to Reid...House Leader Boehner: congeressional republicans are convening in hawaii to celebrate Christmas with out do nothing President
[12:41] {RonS} our
[12:43] {RonS} unreal...newt 2012 campaign keeps calling me...
[12:43] {Threei} to run as his vice-president?
[12:43] {RonS} caller id...not answering...
[12:44] {RonS} cabinet position...new...secretary of bitching...
[12:44] {RonS} might not get it...nemo in contention
[12:45] {Threei} hey, if you'll ever need an undersecretary of ranting, let me know
[12:45] {Threei} and pray nemo comes to interview sober
[12:45] {Threei} he is not as spectacular then
[12:47] {RonS} kinda good news for nemo...Harry Morgan, ‘M*A*S*H’ and ‘Dragnet’ Actor, Dies at 96
[12:47] {RonS} ...the guy was a huge boozer...
[12:55] {Threei} Short Setup: IBM .40 break
[12:55] {Threei} half lot
[12:55] {Threei} if stays under .50
[12:57] {Threei} very likely to invalidaye, but not often do we have a chance to play IBM with 10 cents stop
[13:06] {Threei} 1:1
[13:12] {dino} cov ibm .24, +.15 ty vad
[13:12] {Threei} welcome
[13:12] {Threei} I was just thinking, you are awfully quiet today
[13:12] {dino} real estate issues occupying me
[13:12] {Threei} you and 2/3 of US population
[13:13] {Threei} but unlike most, you make money on it, lol
[13:14] {Threei} so far, nice day
[13:14] {RonS} uhoh...: http://tinyurl.com/cocf8pg
[13:14] {Threei} couple stops didn't spoil it
[13:15] {Threei} it's the same diasagreement I posted earlier, I think
[13:15] {dino} gj
[13:15] {Threei} not a new one
[13:15] {Threei} otherwise we would see fresh wave of selling
[13:16] {Threei} look at this:
[13:16] {Threei} UAW Chief indicates there is no intention to organize against any foreign automaker at the moment; discussions with the foreign automakers with US factories continue- Remain ready to increase organization activities at foreign automaker plants if necessary
[13:16] {Threei} yes, let's kill whatever jobs still remain
[13:17] {Threei} Rome is burning, UAW fiddles...
[13:19] {cipher} l ibm .24
[13:19] {Threei} stop under .15?
[13:19] {cipher} out .33
[13:20] {cipher} changed my mind
[13:20] {Threei} man... you leave them no chance to exhale
[13:20] {cipher} ibm can be ruthless, learned the hard way
[13:21] {Threei} oh yes, sometimes very volatile
[13:21] {Threei} and many its competitors agree with you on ruthless part
[13:21] {cipher} when it goes it goes
[13:21] {cipher} but it's valid in both directions
[13:21] {Threei} International Business Machines Corp EU commission said to accept certain concessions from IBM in exchange for dropping anti trust lawsuit - financial press
[13:22] {dino} out lly .49, +.11 ty 3i
[13:24] {Threei} welcome
[13:28] {RonS} hal getting hammered
[13:34] {RonS} blago got 14 yrs...
[13:34] {Threei} wpw
[13:35] {RonS} long or short?
[13:35] {cipher} s hal .81 stop .86
[13:35] {nemo} well that was fun...o.k. going out to try and kill something in the rain
[13:36] {nemo} tomorrow we're hunting cranberry bogs
[13:36] {RonS} q...deer smell more or less when wet?
[13:37] {nemo} they smell the same, but they can't smell as well...scent is pulled to the ground by the rain
[13:37] {RonS} lol...talkin about thme stinkin not them selling
[13:37] {RonS} them
[13:38] {cipher} die hal
[13:38] {Threei} General Motors Corp CNBC's Lebeau: GM close to solution to fixing the Volt battery
[13:38] {Threei} wasn't there "nothing wrong" ewith battery?
[13:38] {RonS} my conclusion...if they have fix already there was really little wrong...
[13:40] {cipher} out hal +.05
[13:41] {Threei} they are "close to solution"
[13:41] {RonS} gm must be a european co these days...
[13:54] {RonS} oh no...Blagojevich will be sharing a cell with Rajaratnam, known by the guards as the "Rod and Raj Honeymoon Suite"
[13:54] {Threei} lol
[13:54] {Threei} Long Setup: TZA .40 break
[13:54] {Threei} if holding .30
[13:58] {Threei} invalidated
[13:58] {Threei} looking for different entry though
[13:58] {Threei} idea is there
[14:00] {cipher} l cat .19
[14:00] {Threei} (EU) IMF sets needs at $120B for additional resources related to EU loan facility
[14:00] {Threei} that's all?
[14:00] {Threei} pocket change for uncle ben
[14:07] {swill} back in 45
[14:07] {cipher} out cat -.09
[14:09] {Threei} well, TZA was right idea but entry proved elusive
[14:16] {cipher} l hal .44
[14:19] {cipher} stopped =.09
[14:43] {cipher} news?
[14:44] {RonS} wow royl
[14:44] {Threei} no news yet
[14:44] {RonS} $ROYL Wins Slope North Oil Shale Position
[14:44] {Threei} sharp drop looks new-driven
[14:45] {Threei} ahha, here it is
[14:45] {Threei} (EU) S&P places overall Euro ZOne AAA rating on watch negative after placing the member states ratings on watch negative on Dec 5
[14:45] {cipher} +.16 royl thx
[14:46] {Threei} so, the scenario grom now on is:
[14:46] {Threei} from
[14:46] {Threei} on Friday these guys wioll fail to produce anything really effective, and will postpone it once again,
[14:47] {Threei} but rating agencies will react on absence of action
[14:47] {Threei} and downgrades will send yeilds up again
[14:47] {Threei} CreditWatch placement on the eurozone member states was prompted by our concerns about the potential impact on these member states of what we view as deepening political, financial, and monetary problems within the eurozone.
[14:47] {Threei} - We expect to conclude our review as soon as possible after the European summit on Dec. 9, 2011. Depending on the outcome of our review of the ratings on eurozone member governments, we could lower the long-term rating on the EU by one notch, if any.
[15:05] {dino} ipgp drop
[15:06] {dino} sm l .33
[15:07] {Threei} IPG Photonics Weakness being attributed to cautions comments at Barclays Conf- forecasted Q1 revenue to rise 5-10%
[15:08] {dino} ty
[15:09] {dino} out .82, +.49
[15:10] {cipher} nice fill, tried at .79 no luck
[15:10] {cipher} what ecn?
[15:12] {dino} ty
[15:12] {dino} smart x
[15:12] {cipher} cool I'll ut it on my preferred list
[15:14] {dino} s3 37.98
[15:17] {Threei} spike
[15:17] {Threei} no news
[15:17] {Threei} except meaningless blanter:
[15:17] {Threei} (NV) Netherlands PM: More automatic sanctions are needed; keeping the EU at 27 members is important
[15:19] {Threei} these are not technical moves
[15:21] {RonS} unreal...Oh my.... #MariaBartiromo just said that Barney Frank was 'not going down' quietly.
[15:21] {Threei} ummm
[15:22] {Threei} ok... lol
[15:22] {Threei} NYPD warns banks about letter bombs after device mailed to Deutsche Bank HQ in Germany
[15:23] {dino} roflol, and i bet at cnbc they are lol too
[15:23] {patience} ok, are things getting weirder or what?
[15:23] {cipher} wow royl
[15:26] {RonS} gs push
[15:34] {RonS} oh canada...http://tinyurl.com/ced3vta
03[15:35] * Retrieving #discussions modes...
[15:39] {Threei} wow
[15:39] {Threei} bout of optimism
[15:40] {Threei} I'd even call it spasm of enthusiasm
[15:40] {patience} money into commodities and cdn banks
[15:41] {Threei} oh boy
[15:41] {Threei} (EU) G20 nations considering varuous IMF lending programs for Europe, may add to firepower - japan press
[15:41] {Threei} that's all??
[15:41] {Threei} ok... watching TZA for entry
[15:42] {Threei} half lot
[15:42] {Threei} Long Setup: TZA .75 break
[15:42] {Threei} stop under .65
[15:43] {Threei} no go
[15:44] {Threei} rinse
[15:44] {Threei} grr
[15:46] {RonS} enough to piss off the pope...
[15:47] {Threei} yeah, this is bad manners on TZA part
[15:49] {Threei} one of those cases when you hate your own discipline, lol
[15:52] {Threei} ok guys, thank you all
[15:52] {Threei} have a good evening, see you tomorrow
[15:52] {patience} ty vad
[15:53] {cipher} IPGP BLOOD
[15:53] {cipher} sorry caps
[15:58] {_beaujo} OK to ask a question now about this room's configuration?
[15:58] {Threei} sure
[15:59] {Threei} uh oh
[15:59] {Threei} *CNBC LIESMAN: IMF DENIES LATEST REPORT FROM NIKKEI ON IMF ASSISTANCE
[15:59] {Threei} unbelieavable
[15:59] {Threei} they need to cork it
[16:00] {Threei} go ahead beaujo
[16:00] {_beaujo} First, I really enjoyed my first day here. Can I configure to stay live and not have the auto-left?
[16:01] {Threei} ythak you
[16:01] {Threei} you don't have to leave
[16:01] {Threei} our server doesn't require that
[16:01] {Threei} you can even leave it overnight
[16:02] {_beaujo} Three times today, (no relation to Threei) I was greyed out and had to get back in.
[16:03] {Threei} that was most likely related to connection slowdown
[16:03] {Threei} what server does is, it pings every member of the room regularly
[16:04] {_beaujo} seemed to be if I didn't click in window for a while.
[16:04] {Threei} and if someone's connection slowed down below certain threshol that makes it too removed from real time, server ddisconnects
[16:04] {Threei} these things are related mostly to configuration of your isp than our side
[16:04] {cipher} any idea what is the ping interval?
[16:04] {Threei} no, sorry
[16:05] {cipher} I got disco'ed couldn't get back for a while
[16:05] {Threei} but it has to be very severe lag for server to disconnect: 120 seconds
[16:05] {Threei} that practically means you would see a message 2 min later
[16:05] {cipher} yeah it took about 2 min to be able to get back
[16:05] {_beaujo} OK, we will see how it goes tomorrow. And want you to know, that this first day has been truely an excellent learning experience. Didn't make any money, but sure learned a lot.
[16:06] {Threei} great to hear
[16:06] {Threei} don't hesitate to ask questions
[16:06] {cipher} welcome to the room beaujo
[16:06] {Threei} first 30-40 min, we are trying to keep banter to minimum
[16:06] {cipher} I'm a newbie myself
[16:06] {Threei} after that, if you have a questjion, ask,
[16:06] {Threei} and if there is somethgn urgent, I will just answer it later
[16:07] {_beaujo} Fine. Thanks cipher. And is anyone using IB?
Tuesday, December 6, 2011
Nemo's Findings Midweek update
(Participation in the room in real time requires membership. Free trial is available)
http://www.youtube.com/watch?v=E-ajvAbnzSc
Instead of reviewing the price action for the week that has been, I talked about how I would look at the price action to trade with the charts I use to identify potential trades.
http://www.youtube.com/watch?v=E-ajvAbnzSc
Instead of reviewing the price action for the week that has been, I talked about how I would look at the price action to trade with the charts I use to identify potential trades.
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