Market Week Wrap-Up

Promise of Future Accommodation and US Payrolls Send Markets Higher

- Trading was subdued in the front half of the week as investors awaited the Fed decision on Wednesday afternoon and the ECB decision on Thursday morning. Markets had great hopes for more easing out of each institution, with many saying that the Fed was bound to respond to deteriorating economic conditions and the ECB could not avoid further bond buying to cap Spanish and Italian yields, especially after ECB Chief Draghi's strong words in London late last week. Neither decision offered much in the way of satisfaction. The Fed tweaked the language of its statement to lean a little more toward future action, but sat on its hands. The ECB did not launch another round of bond buying and didn't cut rates further, however Draghi's comments were not easy to dismiss. He stated that the ECB could launch a bond buying program in the future but it has not decided to do so as of yet, and in any case it would not move to buy bonds unless individual euro zone governments asked the EFSF/ESM bailout funds for help first. Equities traded off in the aftermath of both decisions, with US and European indices marking their weekly lows after Draghi concluded his remarks. Indices recouped all their losses on Friday as markets reconsidered the import of Draghi's words and were also helped by the relatively good US July employment report. Nonfarm payrolls snapped three straight months of sub-100K gains, though unemployment ticked up one-tenth to 8.3%. Knight Capital's algorithm meltdown on Wednesday left the company gravely wounded and seeking a white knight, though markets shook off the incident that brought back memories of the "Flash Crash." The snap back rally in equities on Friday erased the losses experienced in the first four days of the week: On the week the DJIA rose 0.2%, the S&P500 gained 0.4%, and the Nasdaq was up 0.3%.

- Major P&C insurers like MetLife and Allstate, and health insurance names like Cigna reported excellent results. Prudential more than doubled its profit on a y/y basis, although analysts expected more. Aetna's profits were down on a y/y basis, even as the firm's Q2 earnings beat expectations, while Humana had a bad quarter due to an unexpected 18% jump in new Medicare Advantage enrollments, generating lots of upfront costs. Hartford continues to restructure and posted a loss, and on an operating basis still missed expectations widely. AIG reported its third profitable quarter in a row in its Q2, with operating income up 27% y/y and EPS nearly twice the expected figure. Performance at the firm's key Chartis and SunAmerica units bolstered profits. Separately, the US Treasury announced it would sell another $4.5B of AIG shares and the company said it would buy back two thirds of the shares being offered.

- Like many other major energy firms reporting June quarter results, Anadarko suffered from record low natural gas prices. The firm reported a big loss in its Q2, thanks to a one-time impairment charge stemming from the steep declines in the price of gas, although it also recorded impressive gains in sales volumes and production. Oil services name Transocean crushed earnings expectations on an operating basis thanks to a big jump in fleet utilization, although after reserving funds to cover ongoing Macondo issues it recorded a quarterly loss. Refiner Tesoro saw profits up nearly 80% in its second quarter and its revenues widely beat expectations.

- Ag names Archer Daniels Midland and Agrium are being strongly impacted by the drought situation in the US Midwest. The two firms reported contrasting quarterly results: Agrium's profits were up 20% y/y and well ahead of expectations, while ADM widely missed consensus expectations due to the impact of a big reversal in the firm's ethanol margins. Shares of both ended the week deep in the red, as the state of the corn crop overshadows the industry.

- Procter & Gamble beat its own lowered Q4 guidance issued back in late June. Note that between now and then, activist investor Bill Ackman stepped in and bought about $1.8B worth of its shares, helping to bolster the name. Kraft's Q2 results were more or less in line.

- General Motor's earnings were very strong, thanks to very great revenue in its North America markets and lower losses than expected in Europe. General Motors and Ford both saw y/y declines in June sales, which both firms blamed on sagging fleet sales. Ford's retail sales in the month rose 2%, however GM saw a 3% decline in retails sales. Fiat unit Chrysler reported a 13% gain in July sales, its best performance in the month in five years. Both Toyota and Nissan saw very strong double-digit sales gains, although both firms are facing pretty easy comps due to last year's production problems.

- Retail chains had a solidly positive month of sales in July, suggesting that the back-to-school selling season will be strong. Gap, Limited Brands, TJX, Macy's, American Apparel and Kohl's all reported very good comps. Limited and TJX both raised their Q2 guidance slightly, and TJX noted that traffic was up sharply at all divisions. American Eagle Outfitters no longer discloses monthly comps, however the firm did raise its Q2 outlook, citing very good traffic and sales levels. A sour note came from Aeropostale and Abercromie & Fitch, both of which offered very weak Q2 guidance thanks to flagging sales.

- Various data reports out this week suggested recessionary conditions are not going away in Europe: German unemployment rose for the fourth straight month and EMU unemployment rate hit a fresh record high of 11.2%. July manufacturing PMI data saw no improvements. EUR/USD remained mostly within a 1.2150 to 1.2350 range, with the top and bottom ranges tested during the ECB press conference. Note that the day before the decision, comments by Bundesbank Chief Weidmann were leaked to the press (from an interview originally published in an internal Buba publication on July 27th). Weidmann seemed to rebuke Draghi for his London comment last week, when Draghi asserted that dealing with surging yields was "part of the mandate" of the ECB. In the interview Weidmann said that central bank independence obligates the ECB not to overstep its mandate. The conflict between the two bankers will only deepen now that Draghi has put bond buying back on the table.

- The USD/JPY pair spiked up about 50 pips following the release of better-than-expected nonfarm payrolls on Friday, breaking out of its narrow range to a two-week high around ¥78.80. Earlier in the week, Japan Finance Minister Azumi reiterated that Japan would take decisive steps if needed to deal with one-sided yen moves that clearly did not reflect fundamentals. The Bank of Japan meeting next week will feature two new board members who recently took a vocal stance in support of further policy accommodation.

- Commodity currencies also reached multi-week highs following the better US jobs report. USD/CAD fell back below parity for the first time since May while AUD rose above $1.0550 against the greenback, its best level since March. AUD also hit fresh record highs against the euro, further supported by indicated interest in Aussie bonds from China FX regulator SAFE. Fresh economic data from Australia was decidedly more bullish, with June trade balance printing its first surplus in 6 months and retail sales rising to 3-month highs.

- The latest developments out of China were more mixed but overall still supportive of the soft landing scenario. The official July manufacturing PMI came in at an 8-month low of 50.1 vs 50.5 expected, as output, new orders and input price components fell two ticks and inventories retreated into outright contraction. The China Iron & Steel Association (CISA) reported steelmakers' first half profit fell by over 90% while also warning that second half EU-bound exports would likely deteriorate further. The housing market and recovery in lending continued to cushion the Chinese economy, with the top four banks said to have lent over CNY200B in all of July, up from just CNY50B in the first half of the month. Shanghai property brokers indicated transactions held up for the month, with less discounting keeping the market supported. The Q2 PBoC Monetary Report reiterated policymakers stance of "prudent policy" with fine-tuning as appropriate, suggesting the central bank is likely on hold until at least the next round of economic data for July.

TradeTheNews

Aug .03 2012

Not our trading environment at all but we still squeezed profitable day, albeit were bored to death.


Session Time: Fri Aug 03 00:00:00 2012

[08:32] {nemo} gap up gap down gap up gap down sheesh
[08:33] {Threei}  poor swing traders
[08:47] {scottie} gm
[08:48] {Threei}  morning scottie
[08:48] {scottie} have to leave for an appointment noe, will be back later.
[08:48] {Threei}  we'll be here
[08:49] {Threei}  unless aliens kidnap us
[09:05] {nemo} well, I guess the stilletto heel formation was the clue
[09:05] {Threei}  nah
[09:05] {nemo} oh, gedtting the stop hunts
[09:05] {Threei}  it's a genuine news market
[09:06] {Threei}  yesterday draghi words were not enough
[09:06] {Threei}  overnight they looked into them deeper and realized that he in fact said they were willing to do unlimited and most importantly unsterilized bond buying
[09:07] {Threei}  tomorrow they may realize he can't deliver on that promise through Germany resistance
[09:07] {Threei}  but today they are high on it
[09:10] {nemo} see this:  fwd4.me/1732
03[09:10] * Retrieving #discussions modes...
[09:11] {Threei}  wow
[09:13] {Threei}  if true, this may well be the strongest indication of the end nearing
[09:14] {nemo} I had read the story in Der Spiegel last week about the DM being used again, so it's true
[09:15] {Threei}  ket's asl LS
[09:15] {Threei}  ummm
[09:15] {Threei}  let's ask KS
[09:15] {Threei}  boots on the grounds so to speak
[09:15] {jackharry} good morning
[09:18] {Beau} good morning all
[09:20] {Threei}  jack, beau :)
[09:23] {ese} gm
[09:23] {Threei}  ese :)
[09:25] {RonS} gm
[09:25] {Threei}  ron :)
[09:27] {dptl} gm
[09:27] {Threei}  dp... left yesterday a few min before nice win
[09:31] {ese} vad ron dp
[09:32] {Threei} Short Setup: FCX  .25 break hl
[09:32] {Threei}  If holds  .35
[09:34] {Threei} Short Setup: SLW  .60 break
[09:34] {Threei}  If holds  .70
[09:34] {Threei}  lose .20 and die FCX
[09:35] {Threei}  good boy
[09:35] {Threei}  1:1
[09:35] {Threei}  your turn SLW
[09:38] {Threei}  this one doesn't want to work really
[09:39] {dino} gm
[09:39] {Threei}  dino :)
[09:40] {dino} i see all is well w/world today
[09:41] {Threei}  very much so
[09:41] {dino} all problems solved
[09:41] {Threei}  lamb lies with lion
[09:42] {Threei} Long Setup:  LVS  ,80 break
[09:43] {Threei}  FCX finally 1:2
[09:44] {Threei}  out
[09:44] {Threei}  LVS 1:1 but I doubt it was executable
[09:44] {Threei}  Sweden says Belarus has expelled its ambassador 'for being too supportive of human rights'
[09:47] {Threei} Short Setup: PORT  .15 break
[09:47] {Threei}  POT\
[09:48] {Threei}  POT
[09:48] {Threei}  sheesh
[09:48] {nemo} drinking already?
[09:48] {Threei}  smoking... can't you read
[09:48] {dino} wow meli
[09:48] {nemo} WOW!!!
[09:50] {Threei}  cautios comments from Off Wall Street
[09:50] {Threei}  decent report
[09:50] {Threei}  JPM upgrade
[09:50] {ese} nemo...you thinking about COH at all this morning
[09:52] {ese} jackharry might like the port
[09:53] {nemo} I'm flipping through stuff ese, nothing looks like anything at the moment, numbers at 10
[09:55] {nemo} this is such a big gap up, we may sell off for some profit taking, but that would be later barring bad numbers
[09:55] {jackharry} ese....??
[09:57] {nemo} iwm looking possible short, but numbers
[09:58] {ese} port wine? Jack........
[09:58] {jackharry} ok, lol
[09:58] {ese} from vads spelling errors.......was trying to make a funny but as usual an abject failure
[09:59] {nemo} well...at least you can play drums
[09:59] {jackharry} straight over my head.....dont even have the excuse of it being early here
[09:59] {Threei}  I don't make errors. I explore variations
[09:59] {nemo} what time you start drinking john harold
[10:00] {jackharry} dont forget its the middle of the afternoon here
[10:00] {Threei}  *(US) JULY ISM NON-MANUFACTURING: 52.6 V 52.0E
[10:01] {nemo} unlikely but S3 spy is 139.60
[10:01] {Threei}  btw... who knew Lisa Minelli sang about EU plans long agom, describing intentions of the Brussels in Cabarete:
[10:01] {dino} where you from jack?
[10:01] {Threei}  The continent of Europe is so wide, mein herr.
[10:01] {Threei}  Not only up and down, but side to side, mein herr.
[10:01] {Threei}  I couldn`t ever cross it if I tried, mein herr.
[10:01] {Threei}  But I do what I can, inch by inch, step by step, mile by mile.
[10:01] {Threei}  Man by man.
[10:01] {nemo} that would likely get a serious short covering going, I could see them going for it
[10:02] {jackharry} Northern Ireland
[10:03] {dino} back in 15
[10:03] {Threei} Long Setup:  TZA  .50 break
[10:04] {nemo} they're going to stop bust on the spy so everything goes up intil at least .40
[10:05] {RonS} zagg sm l .50
[10:06] {ese} egzactilly what i'm thinkin ron.......beats and raises guidance hmmmmm
[10:06] {Threei}  Invalidated
[10:07] {ese} ya beat me too it though....pullback city for me
[10:08] {nemo} .80 is Monthly Pivot on IWM
[10:12] {Threei} Long Setup:  KCG  .20 break
[10:12] {Threei}  If holds  .10
[10:14] {Threei}  target 1:3, maybe more
[10:14] {Threei}  1:1
[10:14] {Threei}  nice and easy
[10:14] {scottie} easy +.10 thanks Vad
[10:14] {Threei}  :)
[10:14] {Threei}  for such fast resolution is was amazingly easy to execute
[10:15] {Threei}  usually those that move to target this rapidly don't let you in
[10:15] {Threei}  stop .18
[10:17] {nemo} CVS might be long this area
[10:20] {ese} L M .57
[10:20] {ese} opps make that .58
[10:21] {dino} .
[10:22] {ese} stop .49
[10:24] {nemo} CVS if it's gonna' bounce
[10:24] {nemo} l .71
[10:24] {nemo} bought the pivot
[10:24] {Threei}  scalpers win
[10:25] {nemo} I'm out under .70
[10:28] {nemo} offering .80  expect spy to run to .60
[10:29] {nemo} didn't get taken
[10:31] {nemo} I'm out if it drops .68
[10:31] {nemo} out
[10:45] {dino} these big gap up and sit days, not my style
[10:45] {nemo} yeah, see what happens at 139, other than that, might get some profit taking this afternoon
[10:50] {ese} M stopped .49 -.09
[10:57] {dino} cnqr sm l .52
[11:12] {ese} L cnqr .10
[11:13] {ese} sm
[11:14] {ese} i'll drive the price up for you dino
[11:14] {thomcbell} nice little blast there
[11:14] {dino} please do
[11:17] {dino} don't like the stall
[11:17] {dino} out cnqr .05, +.53
[11:18] {ese} same even +.00
[11:26] {ese} L PKI .94
[11:27] {ese} nope .95
[11:29] {nemo} FB ripping
[11:32] {dptl} gmcr .76 long
[11:33] {ese} stopped pki .05 +.10
[11:33] {Threei}  Facebook Hearing strength attributed to renewed reports it could be considering a jobs board product - fianncial press
[11:34] {dptl} 0.64 stop gmcr
[11:35] {dptl} half out
[11:38] {dptl} all out 1:2
[11:39] {dptl} hmm...too soon i guess...oh well
[11:40] {ese} yup...onwards and upwards
[11:40] {dino} bummer
[11:41] {scottie} good job dp
06[11:42] * Threei slaps dptl around a bit with a large roll of cash
[11:42] {dptl} ty
[11:49] {dino} crbc
[11:49] {dino} spike
[11:51] {RonS} Citizens Republic Is Said to Seek Buyers for Michigan Bk Bloomberg TV }CRBC       08/03 09:27 AM
[11:51] {dino} ty, just found that
[11:51] {dino} break of .00 short imo
[11:52] {cipher} ibm l .94
[11:53] {dino} sm s crbc .99
[12:01] {cipher} out 1/2 ibm ..24 +.30
[12:02] {cipher} put another 1/4 .30
[12:02] {cipher} out test .34 +.44
[12:02] {cipher} rest
[12:03] {dino} gj
[12:04] {cipher} thx
[12:04] {RonS} UN chief Ban Ki-moon says brutality being reported out of Syrian city of Aleppo may constitute crimes against humanity
[12:05] {RonS} ...besides my name of course...
[12:06] {RonS} lol...So if Obama gets re-elected, does he inherit his own mess?
[12:07] {Threei}  lol
[12:12] {ese} in general......90% of this flippin planet is a crime against humanity
[12:12] {Threei}  heck... humanity is a crime against humanity
[12:14] {ese} indeed
[12:14] {dino} crbc stop-.26
[12:15] {Threei}  why do you think nemo befriends animals
[12:16] {ese} ouuuuuuu ouch
[12:19] {ese} so basically what you told us about nemo at the party is true then.....
[12:20] {ese} he's desparate for friends......has been buging you for along time and you had to fob him off a whole bunch of times
[12:21] {ese} don't worry ...I won't let that get out on the board......
[12:21] {ese} hmmmmmmmmmmmm
[12:21] {ese} guess I goofed
[12:21] {Threei}  you know that if he ever visits our island, every word will be copied, rememberd and avenged, right?
[12:22] {ese} i'm well aware of that......and am taking steps to protect myself
[12:24] {dino} lol
[12:26] {ese} L wnr .50
[12:29] {dino} gaps abov 13206 dji, 2704, 2762, 2782 ndx
[12:39] {ese} out wnr .31-.19      that didn't work
[12:46] {ese} L wnr .08
[12:46] {Threei} Long Setup:  TZA  .25 break
[12:51] {dptl} where is your stop ?
[12:51] {Threei}  torn between .19 and .14
[12:52] {dptl} .19 it is
[13:12] {dptl} out
[13:14] {dptl} oh that was fast.......took coh .25 break
[13:15] {dptl} got out .37 and .47
[13:15] {Threei}  nice
[13:15] {dptl} ty...didn't expected to be that fast
[13:17] {Threei}  Zynga Inc. EA files copy infringement lawsuit against the company related to SIMS social game on Facebook- In the complaint, which was filed in the United States District Court for the Northern District of California on August 3, 2012, EA claims that in Zyngas recently-released Facebook game The Ville, Zynga has willfully and intentionally copied and misappropriated the original and distinctive expressive elements of The Sims Social in a violation of U.S. copyright laws.
[13:26] {nemo} .80 level fb
[13:29] {RonS} GS made $400M against Knight
[13:30] {Threei}  how?
[13:30] {RonS} will ask...
[13:31] {nemo} lvs below .30 worth a risk .06
[13:38] {dino} if true we should buy gs
[13:39] {RonS} not material imo
[13:40] {RonS} did you guys hear that bac has made money trading every day this year except 2 or 3...absolutely criminal
[13:41] {Threei}  well, they need to create a buffer for the day when one of their traders gets in too deep and blows it all up
[13:44] {RonS} above probably reated to this...$KCG loss was tied to $GS - CNBC
[13:45] {RonS} dude has not responded to me so he prob has not details...
[13:45] {RonS} no
[13:46] {RonS} trying to replace Rubinin as Dr Gloom?:  .@PIMCO CEO Mohamed El-Erian says strong jobs report is not an economic recovery game changer
[13:46] {RonS} roubini
[13:47] {Threei}  I can't envision mechanics how GS could possibly benefit from KCG fiasco - unless KCG clients who lost money on erroneous trades and were compenated later on traded exclusively against GS
[13:50] {dino} that was hardly a strong jobs report
[13:54] {RonS} understand dino, just saying the el and gross are out daily with bearish statements these days...
[13:55] {Threei}  everyone's talking their book
[13:55] {Threei}  and see world through their glasses
[13:55] {Threei}  meanwhile by D.Gerrold:
[13:56] {Threei}  Your opinion is irrelevant. Really. The universe doesn't care. Neither does anyone else. They have their own opinions, they don't need yours. And if they do ask for your opinion, they don't really want your opinion -- what hey want is for you to agree with theirs.
[14:02] {dino} where you stand is really of function of where you sit
[14:03] {RonS} must be why my feet hurt, since my rear end does...
[14:05] {dino} lol
[14:05] {dino} but think about it.....thats why everybody has opinions
[14:12] {dino} stc the choh calls from tues., +.30 or 21%
[14:13] {nemo} mon caig halted
[14:13] {nemo} aig
[14:14] {ese} i got timed out
[14:15] {ese} cnqr dino....makin anice run
[14:15] {nemo} aig gonna buy back treasury shares
[14:20] {dino} wow, guess so
[14:21] {dino} in any case, it's been fun, but i am falling asleep here. so calling it a week. thx all for some great ideas. really appreciate it. best week i've had all summer.
[14:21] {Threei}  American International Group, Inc To buyback $3.0B in shares being sold by the US Treasury (5.3% of market cap); Treasuy offering $4.5B worth of common shares- U.S. Department of the Treasury (Treasury) has launched an offering of $4.5 billion of its AIG common stock, par value $2.50 per share (AIG Common Stock). The Treasury will also grant a 30-day option to the underwriters for the offering to purchase additional shares to cover over-allotments, if any. - In connection with Treasurys offering, AIG has indicated to Treasury that it intends to purchase shares of AIG Common Stock in the offering, at the initial public offering price, pursuant to an authorization granted by the AIG Board of Directors to purchase up to $3 billion of AIG Common Stock.
[14:23] {Threei}  take care dino
[14:24] {Threei}  barely keeping my eyelids open too
[14:24] {dino} summer fridays
[14:26] {Threei}  Ameritrade resumes routing through Knight
[14:26] {Threei}  boosted KCG
[14:32] {RonS} lol...actually crying...Feeling better? SEC's Schapiro sends letter saying hi-tech traders should make sure their systems are working. Review in works. $KCG
[14:32] {ese} i'm with ya on that vad
[14:33] {RonS} Scottrade Resumes Trading With Knight Capital Group -Source
[14:34] {RonS} Sources Say Goldman Bought Knight Capital's Unwanted Positions in One Block Sale -CNBC
[14:34] {Threei}  I don't know why these smart asses in SEC feel thne need to chime in with their illiterate nonsense
[14:34] {RonS} Sources Say Goldman Charged Knight $440 Million for the Transaction -CNBC  
[14:34] {Threei}  as far as I am concerned, whole sitiation was handled perfectly
[14:34] {Threei}  they owned to their error, took losses, made cl,ients whole,
[14:34] {RonS} Knight Has Three Business Days for Settlement After Late Wednesday Block Trade -CNBC
[14:35] {Threei}  never took clients money to bridge
[14:35] {Threei}  unlike MF Global and PFG
[14:35] {Threei}  now they'll survive if they vcan weather it or fail if not
[14:35] {dolores} hello there
[14:35] {Threei}  that's how mechanism is supposed to work
[14:36] {dolores} what a day must have been??
[14:36] {Threei}  But these idiots yawned through MF and PFG disasters, however feel the need to bartk at KCG
[14:36] {Threei}  nice morning, then whole day of boredom, dolores
[14:37] {Threei}  market glued to a line
[14:37] {RonS} vxx at all-time lows...what a screwed up instrument...
[14:37] {Threei}  lol
[14:39] {RonS} Sources Say Knight was Reluctant to Sell Positions on Open Market -CNBC
[14:40] {RonS} is she stamping her fett like the 2 yr old she is acting?...SEC's Schapiro calls Knight problems "unacceptable"
[14:40] {RonS} feet
[14:41] {Threei}  idiot
[14:41] {Threei}  things malfunction
[14:42] {Threei}  look at how well sec performed, not to dig too far for an example
[14:42] {RonS} we are from the guvmint and are here to help..."I have asked the staff to accelerate ongoing efforts to propose a rule to require exchanges and other market centers to have specific programs in place to ensure the capacity and integrity of their systems."
[14:44] {Threei}  guys, I'll ask your permission to call it a day, haven't slept much today
[14:44] {Threei}  lest I fall out of a chair, lol
[14:44] {RonS} np here...see ya
[14:44] {scottie} have a good weekend Vad
[14:44] {nemo} don't let the door hit you on the way out
[14:44] {Threei}  thatnk you all, I believe we handled this week well
[14:44] {Threei}  have a great weekend, ssee you Monday
[14:45] {dolores} have agreat weekend VAD be here monday
[14:45] {dptl} see ya
[14:45] {dolores} I will be here sorry
[14:45] {cipher} cya vad
[14:45] {dolores} my english
[14:48] {dolores} what happened to FSLR guys?
[14:48] {dolores} thought they had good news last week and now down?
[14:52] {ese} things move opposite the good news D
[14:53] {cipher} buy the rumor, sell the news
[14:54] {ese} yup
[14:54] {ese} pers
[14:57] {thomcbell} take care Vad
[15:08] {dptl} have a good weekend all...see ya monday
[15:10] {dolores} MCP in bad shape too
[15:17] {ese} auch du miya.......somebody do something......like .....a about 6 zeros to a sell trade to jump start the NYSE into pandemonium
[15:17] {ese} add
[15:24] {ese} zzzzzzzzzzzzzzzzzzzzzzzz sneurgal.............gaaafa.......glic..........smuvda.......zzzzzzzzzzzzzzzzzzzzzzzzzzz
[15:28] {dolores} bye guys have agreat weekend
[15:28] {dolores} see you monday
[15:29] {ese} cya D
[15:33] {ese} well....it's been real......we should do this again next year......cya monday
[15:43] {scottie} have a great weekend guys, see you monday

Aug .02 2012

Pretty nice day, with both good trades and good discussions in the room. Underestimated come trades' potential POT short in particular)  by taking 1:3 and watching them proceed much farther but that's August after all. Nice finishing trade on the last minutes cemented the day as nicely green.


Session Time: Thu Aug 02 00:00:00 2012
[08:38] {nemo} can you say whipsaw?
[08:44] {nemo} My proctologist would love this action, I'd have to go every week
[08:46] {nemo} http://twitpic.com/aekjjk
08:50] {Threei}  (EU) ECB's Draghi: ECB may undertake outright open market operations, such moves would be within ECB's mandate; may undertake other non-standard measures (confirms earlier press speculation)- To design framework for such measures over coming weeks. - Looking beyond the short-term, euro zone economy to recover only gradually. - There are many headwinds to growth: balance sheet adjustments, unemployment, the global slowdown, tensions in financial markets, possible medium-term increases in energy prices.
[08:51] {nemo} Boy is the pressure on the German Supreme Court or what?
08:51] {Threei}  I guess market is unimpressed
[08:51] {nemo} we dropped $2 in less than 10 minutes
[08:52] {nemo} Days like this make me glad I don't hold overnight
[08:58] {nemo} wow, would never have guessed this:  http://fwd4.me/16zv
08:59] {Threei}  they needed a study for this?
[08:59] {nemo} government funded no-doubt
[08:59] {thomcbell} i would harbor an attraction for her too
[09:00] {jackharry} good morning
09:00] {Threei}  jack :)
09:01] {Threei}  "Ninety eight percent of the adults in this country are decent, hardworking, honest Americans. It's the other lousy two percent that get all the publicity. But then, we elected them." ~ Lily Tomlin
[09:02] {thomcbell} press conference on kcg ?
09:04] {Threei}  Knight Capital Group Inc. To realize a pre-tax loss of $440M related to August 1st disruption due to routing in NYSE-listed Securities; will pursue strategic and financing alternatives to strengthen capital- As previously disclosed, Knight experienced a technology issue at the open of trading at the NYSE yesterday, August 1st. This issue was related to Knight's installation of trading software and resulted in Knight sending numerous erroneous orders in NYSE-listed securities into the market. This software has been removed from the company's systems. - Clients were not negatively affected by the erroneous orders, and the software issue was limited to the routing of certain listed stocks to NYSE. - Knight has traded out of its entire erroneous trade position, which has resulted in a realized pre-tax loss of approx $440M. Although the company's capital base has been severely impacted, the company's broker/dealer subsidiaries are in full compliance with their net capital requirements. Knight will continue its trading and market making activities at the commencement of trading today. The company is actively pursuing its strategic and financing alternatives to strengthen its capital base.
09:05] {Threei}  unbelieavable
09:05] {Threei}  this single disaster day practically wiped them out
[09:05] {nemo} bunny is relentless....she stands next to the desk on her hindlegs begging for treats
[09:06] {RonS} gm...Freddy Mercury day
09:06] {Threei}  so's EY periphery
09:06] {Threei}  EU
09:06] {Threei}  ron :)
09:06] {Threei}  (DE) German opposiiton leader: ECB decision has only bought time and not a solution to the debt crisis
[09:06] {scottie} good morning everyone
[09:06] {RonS} another one bites the dust...
09:06] {Threei}  scottie :)
09:06] {Threei}  lol
09:07] {Threei}  and ,look how beautifully nature will work this one out
09:07] {Threei}  no bailouts, no aid of any kind
09:07] {Threei}  ket them fail, someone will buy leftovers if they are useful
09:08] {Threei}  and next time one of them installs new software, they'll double-check it 5 times
09:08] {Threei}  or maybe launch it limited to 2-3 names
09:08] {Threei}  then widen to 10
09:08] {Threei}  and only then unleash it fully
09:09] {Threei}  oh boy
09:09] {Threei}  (US) PIMCO's Gross: Comments of ECB's Draghi disappointing the markets
09:09] {Threei}  et tu Gross
09:09] {Threei}  at least he didn't do any study for this
[09:11] {nemo} should take tna here
09:12] {Threei}  Spanish stock market has plunged 600 points in last few minutes, now down 5%
09:12] {Threei}  Super Mario: uh oh... did I underpromise?
[09:13] {nemo} no...it's just money printing ain't gonna' get the job done
09:13] {Threei}  Super Mario: but it was going to just la few days ago
09:14] {Threei}  from twotter:
09:14] {Threei}  Size of measures "need to be adequate to reach their objectives." Ital has $2trn govvies. Spain $800bn. What's Italian for no es posible?
[09:15] {RonS} finito?
09:16] {Threei}  finito la comedy?
09:17] {Threei}  lost in all the EU noise:
09:17] {Threei}  US initial jobless claims rose 8,000 last week to 365,000
09:17] {Threei}  but hey, thr spin is good:
09:17] {Threei}  Initial Jobless Claims 365K versus cons of 370K
09:18] {Threei}  is there book titled "the culture of lies"?
09:18] {Threei}  if not, i want to write one
[09:19] {ese} morning
09:19] {Threei}  ese :)
[09:20] {ese} vad...what website if any do you use to tell you what sectors or industries are hot for the day......
[09:20] {cipher} gm
[09:21] {ese} C
[09:21] {RonS} heh, if draghi channeled freddy mercury...would that make him a draghi queen?
[09:22] {ese} ha ha
[09:22] {Beau} good morning all
09:22] {Threei}  cipher. beau :)
09:22] {Threei}  lol ron
[09:22] {thomcbell} Ronny!
[09:22] {ese} vad....question above
09:22] {Threei}  ese, I usuallu just look at typical stocks or ETFs, but there are a few sites with so called heatmaps
[09:23] {ese} hmmmmmm
09:23] {Threei}  don't have any of them handy
[09:23] {RonS} finviz
[09:23] {RonS} only stock though i think
09:23] {Threei}  http://finviz.com/map.ashx
[09:24] {ese} tks
09:24] {Threei}  http://screening.nasdaq.com/heatmaps/pmi-heatmap.aspx
[09:24] {ese} am curious.....don't really use them
09:26] {Threei}  Knight Capital Group Inc. Said to have approached JPM seeking an emergency loan - press- Reminder: Earlier Knight indicated it was to pursue strategic and financing alternatives to strengthen capital
[09:28] {RonS} tdc sm l 64.50
[09:29] {dolores} hello GM
09:29] {Threei}  dolores :)
09:30] {Threei}  KCG tries to bounce
09:30] {Threei}  and fails
[09:30] {dolores} are they going under?
09:31] {Threei}  unclear yet but their loss is very big
[09:34] {thomcbell} lvs impressive
[09:35] {nemo} small tna . .48
[09:35] {RonS} out tdc 66.50 +2.00
[09:35] {nemo} stop .35
[09:35] {dino} gm
09:35] {Threei}  dino :)
[09:35] {thomcbell} long setup aro 14.10 break if holding 13.80 - 1/3 lot for kicks
[09:36] {dolores} FSLR might offer some short today
[09:36] {thomcbell} target is 15 even
[09:36] {nemo} offering .65
[09:36] {nemo} l fslr .51
[09:37] {nemo} won't break, this stock will bolt if it breaks .50
[09:37] {nemo} in
09:38] {Threei} Short Setup: FCX  .80 break hl
[09:38] {nemo} partialed .68
09:38] {Threei}  ugh
09:38] {Threei}  late
09:38] {Threei}  ok, in
[09:38] {cipher} +.17 fslr thx nemo
[09:38] {nemo} yw
09:38] {Threei}  .86 stop
[09:38] {dptl} gm
09:38] {Threei}  dp :)
[09:38] {nemo} stop under .40
[09:38] {nemo} stop under .50 tna
09:39] {Threei} Short Setup: LVS  .95 break
09:39] {Threei}  If holds  .05
[09:39] {Will49} GM
09:40] {Threei}  will :)
[09:41] {thomcbell} out aro
09:41] {Threei}  (IT) Reminder: Italy PM Monti with Spain PM Rajoy press conference expected to start shortly in Madrid**Note: There has been press speculation that Italy's PM Monti would try to convince Spain to accept a formal full govt bailout (above and beyond the planned �100B Spanish bank bailout)
[09:44] {nemo} buying tna over .80
09:44] {Threei} Short Setup: FCX  33 break
09:44] {Threei}  If holds  .10
[09:45] {nemo} offering .95
[09:45] {nemo} yep
09:45] {Threei} Short Setup: FCX  .10 break
[09:45] {nemo} stop is under .75
09:45] {Threei}  stop .16
[09:46] {nemo} going for gap close me thinks however spy at weekl pivot
09:47] {Threei}  half out .02
09:47] {Threei}  stop to .11
[09:48] {nemo} partialed .24 on tna
[09:48] {nemo} stop under the whole
[09:49] {RonS} wtw on diet
[09:49] {nemo} cute
09:49] {Threei}  1/4 more out
09:50] {Threei}  .95
09:50] {Threei}  stop to .06
09:50] {Threei}  to .01
09:52] {Threei}  to ..96
[09:52] {cipher} WTW L .67
[09:52] {cipher} out 1/2 .90
[09:53] {nemo} l gmcr .71 small
[09:53] {nemo} stop under .55
[09:53] {cipher} stopeed on rest .65
[09:54] {nemo} pfferomg /85
09:54] {Threei}  to .91
[09:54] {nemo} scratching getting nuts
[09:54] {nemo} ticked .84 didn't get my .85
[09:55] {cipher} wtw l.20
[09:55] {cipher} out 1/2 .42
09:55] {Threei}  out
09:56] {Threei}  tried to get another leg under .80
[09:56] {nemo} l fslr break .00
[09:56] {cipher} out in full .78 +.58
09:56] {Threei}  wasn't in cards, so trailed tighter
[09:56] {nemo} nope, jumped my bid
09:56] {Threei}  good trail as turns out
[09:57] {nemo} oops looking wrong stock
[09:57] {nemo} whtf
[09:58] {nemo} fslr tightening up range
09:58] {Threei}  (ES) Spanish 10-year gov't yield moves back above the 7.0% level, higher by over 25bps post ECB press conference
09:58] {Threei}  KCG spike
09:58] {Threei}  (US) Chamber of Commerce: Recession likely if the US 'goes over the fiscal cliff'
[09:59] {dolores} nice bounce
[09:59] {dino} cnqr sm l .51
09:59] {Threei}  (DE) Germany Chancellor Merkel coalition ally Fuchs indicates opposition to the ECB's readiness to purchase bonds - financial press- Sees purchases of bonds taking pressure off of countries to conduct their reforms
09:59] {Threei}  *(US) JUN FACTORY ORDERS: -0.5% V 0.5%E
10:00] {Threei}  yikes
10:00] {Threei}  how's that summer of recovery going
[10:01] {dolores} they lost four times what they did in 2011?
[10:01] {dolores} thats bad
10:01] {Threei}  KCG?
[10:01] {dolores} yes
10:01] {Threei}  their loss in one day yesterday is 440 M
[10:02] {dolores} and they had profits in 2011 for 110 M?
10:02] {Threei}  looks like
[10:03] {dolores} FSLR breaking highs
[10:04] {nemo} I've got resistance at .40
10:04] {Threei} Long Setup:  SLW  .40 break
10:04] {Threei}  If holds  .35
[10:05] {cipher} wtw l .15
10:05] {Threei}  half out who got it
10:05] {Threei}  broke a bit too fast
[10:05] {dolores} too fast for me
[10:06] {cipher} out .30 +.15
[10:07] {cipher} WTW L.83
[10:07] {cipher} out 1/2 .10
[10:08] {dino} 07 green
[10:08] {cipher} out rest .57 +.74
10:09] {Threei} Long Setup:  MOS  .50 break hl
10:09] {Threei}  If holds  .40
10:10] {Threei}  Invalidated
[10:11] {nemo} spy wants to close the gap
[10:11] {dino} out cnqr .31, +.80
[10:12] {dino} no takers/
[10:12] {dino} ?
[10:13] {cipher} wtw l.83
[10:14] {cipher} out 1/2 00
[10:14] {nemo} first swing high on spy was S1 on the daily...fib extensions put the 61.8 at yesterday's close
10:14] {Threei} Long Setup:  POT  .90 break
10:14] {Threei}  If holds  .80
[10:16] {cipher} out rest wtw .38 +.55
10:17] {Threei}  wtg
[10:17] {cipher} ty
10:22] {Threei}  hmmm
10:22] {Threei}  http://www.amazon.com/gp/offer-listing/B00859HZEM/ref=dp_olp_new?ie=UTF8&condition=new
10:22] {Threei}  look at the price
10:22] {Threei}  did I just die?
[10:23] {nemo} RIG  wtf
[10:23] {dolores} FSLR all over the place today
[10:24] {cipher} rig l.93
[10:24] {cipher} out .50
[10:24] {cipher} wow
[10:24] {nemo} conference call
[10:24] {cipher} thx nemo
[10:25] {nemo} l tna .51
[10:25] {nemo} stop .35
[10:25] {dolores} ccall on FSLR nemo?
[10:25] {nemo} playing the bull flag
[10:25] {dino} cnqr sm l .45
[10:26] {cipher} tna +.18 thx nemo
[10:26] {nemo} long run dolores want consolidation pull back, this was short covering
[10:26] {nemo} yw
[10:26] {nemo} partial .68
[10:26] {nemo} this is the spy close the gap run
[10:27] {dino} out cnqr .11, +.67
[10:27] {nemo} if we get above the gap, consolidate, and then starat moving up...ursine sodomy
[10:27] {cipher} wtg dino
[10:27] {dino} ty
[10:27] {nemo} partial .90
[10:27] {jackharry} out .93 tna, +.39, thanks nemo
[10:27] {nemo} stop .59
[10:28] {nemo} yw
10:28] {Threei}  33% Give Obama Excellent/Good Marks on Economy, But 49% Say Poor
[10:28] {dolores} still in POT right?
10:28] {Threei}  yes but strting to think, should have just taken little scalp
10:28] {Threei}  a bit rudderless
[10:29] {dolores} stop .79?
10:29] {Threei}  yes
[10:29] {dino} ugh cnqr goes another buck w/o me
[10:29] {dino} boil drop
[10:30] {cipher} boil l .35
[10:30] {dino} :)
[10:30] {nemo} out
[10:31] {cipher} stopped
[10:31] {nemo} fslr bounce territory next .20 cents
[10:31] {dino} that sucker let go
[10:31] {dino} vsm boil .13
[10:32] {dino} out boil .71, +.58
[10:34] {Will49} Will is envious
[10:34] {dino} don't be
[10:34] {Will49} ?
[10:34] {nemo} nav might be short if it drops .50
[10:37] {nemo} sheesh...that first hour felt like a whole day...grabbing my blanky, teddy, and bunny little nappy poo
[10:37] {Will49} and go to the bank:)
[10:38] {Will49} is that bad luck to say that?
[10:38] {nemo} mmmhhhh....it's not noon yet
[10:39] {nemo} mmhhhhh....
[10:39] {nemo} whaddya' think Vad?
10:39] {Threei}  me?
10:39] {Threei}  think?
10:39] {Threei}  kidding?
[10:39] {dino} feeling the same way nemo
[10:39] {nemo} not noon, busy morning
[10:39] {nemo} nobody's looking
[10:39] {nemo} and, I'm not really alone, so if I drink I'm not an alcoholic
[10:40] {nemo} Oh, I forgot
[10:40] {nemo} btw, bounce area iwm
[10:40] {nemo} I'm a drunk, alcoholics go to meetings
[10:40] {cipher} tna l.26
[10:40] {nemo} cipher read my mind
[10:40] {nemo} you need help...immediately
10:41] {Threei} Long Setup:  TXN  .70 break
10:41] {Threei}  If holds  .65
[10:42] {nemo} frickin nav
[10:43] {nemo} s nav .50 small
[10:43] {dino} one spike
[10:43] {cipher} aapl l.609
[10:43] {dino} damn can't borrow
[10:44] {nemo} can't borrow what dino
[10:44] {dino} one
[10:44] {cipher} out 1/2 tna.40
[10:44] {nemo} I partialed .39
[10:44] {dino} dropped 1.50
[10:44] {dolores} invalidted
[10:44] {dolores} or valid?
[10:44] {cipher} aapl stopped .90 -.10
10:45] {Threei}  Invalidated
[10:45] {nemo} partial .54
[10:45] {cipher} out rest tna .49 +.26
[10:46] {nemo} stop to be
[10:46] {nemo} b/e
[10:46] {dolores} POT was off .70
[10:47] {nemo} GMCR tight!!!!
[10:47] {cipher} freaking apple rinsed
[10:47] {dolores} almost did it but chickened
[10:47] {cipher} calling it a good day
[10:47] {cipher} see ya
10:48] {Threei}  take care cipher, great job
[10:48] {nemo} wiedersehen
[10:48] {nemo} scratching nav, this thing sucks
[10:50] {nemo} stop to .35
[10:50] {nemo} Australia's Finance Minister Says Bruce Springsteen Is Better At Reading The US Economy Than Actual Economists - bit.ly/PoFKiw
[10:51] {dino} cya cipher
[10:52] {nemo} l coh break of .10
[10:53] {nemo} needs to hold the whole
[10:54] {RonS} ...guess there's no money in it...International mediator Kofi Annan says he's quitting Syria role
[10:54] {nemo} wow
[10:55] {nemo} coming into vwap here
[10:55] {dino} lol, job security is an issue
[10:55] {nemo} wow...crazy day
[10:55] {dolores} must be some news
[10:55] {nemo} more retirement plan dino
[10:55] {dolores} now 60 points  down in secs
[10:55] {RonS} vmw smacked
[10:55] {nemo} wow 3.1 mil on spy
[10:55] {nemo} coh holding
[10:55] {nemo} interesting
[10:56] {nemo} l coh small above whole
[10:56] {nemo} stop below .90
[10:58] {nemo} two way below .90 support at .46
[10:58] {nemo} bi-trade
[10:59] {dino} stepping back, mkts confused
[10:59] {nemo} fits me to a "T"
11:01] {Threei}  (ES) Spain PM Rajoy: Spain and Italy affirm commitment to budget targets, agree on need to adjust public finances - joint Italian/Italian press conference- Italy PM Monti: Hopeful to see new EU banking regulations soon
11:01] {Threei}  why do these guys even meet?
[11:01] {dolores} FB holding
11:01] {Threei}  they may just as well skype each other,
[11:01] {Will49} more propaganda
[11:01] {nemo} so they can read their pronouncements in the newspaper
[11:01] {dino} mkt not buying it
11:02] {Threei}  say "as always?", nod and publish generic statement copied from last week
[11:02] {RonS} ...for the catering...
[11:02] {dino} most likely ron is correct
[11:02] {nemo} and likely the caterer's help
11:02] {Threei}  how many times do they need to "affirm commitment to budget targets"?
[11:03] {dolores} until germany belives them !! JAJA
[11:03] {dolores} no one does
11:03] {Threei}  well... catering...
11:03] {Threei}  see, I could understand why they met while previous italian guy was at the heln
11:03] {Threei}  helm
11:03] {Threei}  berlusconi
[11:03] {nemo} .60 area spy and .65 area iwm bounce
11:04] {Threei}  those meetings must have been fun as long as he took liberty to furn ish them with enetrtainment as he understood it
[11:04] {nemo} l small fslr .51
[11:04] {nemo} stop under .40
[11:05] {nemo} mmhhh, scratching
[11:05] {nemo} getting drop feel
[11:06] {dino} lol
[11:07] {dolores} COH hold .60
[11:07] {dolores}  is that support?
[11:08] {dino} good gut feel on drop nemo
11:09] {Threei}  it's support... but the real question is, whether it's going to hold
[11:11] {nemo} this is support area for COH
11:11] {Threei} Short Setup: POT  .60 break
[11:11] {nemo} below this, it's a long ride
[11:12] {nemo} l tna .71 small
[11:13] {nemo} bidding .79 for partial
[11:13] {nemo} offering
[11:13] {nemo} you know what I mean
[11:13] {nemo} yahoo
[11:13] {nemo} not the ticker
[11:14] {nemo} we bounced at spy monthly pivot
[11:14] {nemo} btw, COH drops here goes for a while
[11:14] {nemo} scratching IWM below b/e
[11:14] {nemo} tna
[11:14] {nemo} sorry
[11:14] {nemo} out
[11:15] {nemo} big volume COH
[11:15] {nemo} shorting a little COH .55
[11:15] {nemo} stop above .60
[11:15] {nemo} look .50
[11:15] {nemo} look
11:15] {Threei}  1:1
[11:16] {nemo} flashed bid
11:16] {Threei}  half out
[11:16] {nemo} COH imo, drops .50 good short
11:16] {Threei}  scalpers be free
[11:16] {dino} gmlp drop
[11:16] {nemo} sound like a hippie Vad
[11:16] {dino} wtf was that 30-23
[11:16] {nemo} nice offer at .60, good R/R here
[11:17] {nemo} if that bid flashes at .50 again and starts to get hit, I'm adding
[11:19] {nemo} partial .40
[11:19] {nemo} DIE COH SCUM!!!!
[11:19] {nemo} stop is .50ish
11:20] {Threei}  1:2
[11:20] {nemo} .32 offer
11:20] {Threei}  1/4 more out
[11:20] {nemo} partialed some more .28
[11:21] {nemo} stop .40ish
[11:22] {nemo} out
[11:23] {dino} gj
[11:23] {ese} L tie .01.........this runs slower than snake crud
[11:23] {nemo} cam
[11:23] {nemo} damn
[11:23] {nemo} missed
11:25] {Threei}  1:3 close enough, out
11:25] {Threei}  .33
11:25] {Threei}  thing of beauty, clean DBI
11:25] {Threei}  don't tell me no one took it
[11:26] {nemo} I was busy
[11:26] {dino} gj vad
[11:26] {Will49} I was stupidly following one of nemos ideas
[11:26] {nemo} frig wanted tna .46 jumped to .48
[11:27] {nemo} we're going up again
[11:27] {Will49} Annan must have changed his mind
[11:27] {dino} cnqr sm l .95
[11:29] {Will49} egads
[11:30] {dino} out cnqr .32, +.37
11:32] {Threei}  allow me to copy/paste a brief response I've made elsewhere about EU situation
11:32] {Threei}  IMO, they are in a spot with no solution at all.
11:32] {Threei}  Cutting spending by indebted countries is that same austerity that is killing Greece, as economy comes to a screeching halt. Not cutting spending is a) digging deeper hole and b) impossible as lenders stop lending or hike the interest beyond bearable. This situation is created by excessive borrowing in the past that built up huge segment of economy working to satisfy debt-fueled demand. No more borrowing means this demand dries up. Maintaining this demand requires more borrowing... which is impossible because of lenders stopping lending... etc, circle is closed.
11:32] {Threei}  The whole construct is non-viable, it had an expiration date on it from the get-go and current situation is merely the end of the rope. Debt exceeding ability to repay it can be extinguished by default or printing; their attempts to outwit this simple fact are akin to Baron Munchausen's idea to lift himself by hair out of a swamp. See "bootstrapping."
[11:33] {Will49} no kidding
[11:34] {nemo} small fcx .71 l
[11:34] {nemo} looking for .95
[11:35] {dino} agree 3i. for ove a year i have stated they are screwed by giving up their ability to print
[11:36] {nemo} hah, COH hits my original stop and drops
[11:38] {RonS} LO, even smokes taking a hit
[11:38] {nemo} out
[11:39] {Will49} Annan quit again
[11:39] {nemo} where you been Will, Mars?
[11:40] {Will49} Venus
[11:40] {Will49} we venecians have a weird sense of humour
[11:41] {Will49} and we can't spell either
11:42] {Threei}  you have nothing on us, inhabitants of Titan
11:42] {Threei}  we have sirens
[11:42] {Will49} I've been assigned to monitor RT by my leader Kofi Annan
[11:43] {Will49} He'll be here in person to straighten you guys out once and for all
11:44] {Threei}  why? what's his beef with us?
[11:44] {Will49} i'm just mentally wandering
[11:44] {Will49} don't make me justify my metaphors:)
[11:45] {dino} his beef, "evil speculators"
11:45] {Threei}  oh
[11:45] {Will49} yeah...that's good enough reason
11:46] {Threei}  right... forgot who we are
[11:46] {Will49} also, Kofi loves to travel and stay in nice hotels
11:46] {Threei}  put him in Days Inn
[11:46] {Will49} don't you have a spare bedroom?
11:47] {Threei}  promise his great location right at the harbour... but make sure his room is right above the restaurant
[11:47] {nemo} I thought I'd give him one with an underwater view
[11:47] {Will49} I'll email him right now
[11:47] {Will49} OK Vad, pay attention to your scanner, I need somepractice
[11:48] {nemo} fslr
[11:51] {nemo} l tna .42
11:51] {Threei}  The ECB rate decision was the event of the morning, and Draghi's failure to provide more specifics about the bond buying he hinted at last week have slammed European equities. The actual policy announcement was no surprise, with rates firmly on hold, but Draghi's remarks were seen as very disappointing by markets. The essence of his remarks are that the ECB may launch a bond buying program but it has not decided to do so as of yet, and in any case it would not move to buy bonds unless individual euro zone governments asked the EFSF/ESM bailout funds for help first.
[11:51] {nemo} stop under .30 small btw lunchtime
[11:51] {nemo} ow
11:52] {Threei}  . In the meantime, the ECB has asked its committees to flesh out possible bond buying strategies after providing them with "guidance." The plan will be very different from its prior SMP bond buying plans, with a concentration on the short end of the curve. Peripheral yields had contracted ahead of the decision, but after the press conference yields on the longer end of the curve staged a dramatic reversal, with both the Spanish and Italian 10-year yields moving from -10bps in the session to trade +20 bps.
[11:53] {dino} good thing knights opps wasn't today instead of yesterday
[11:54] {nemo} o.k. think 136 spy bottom
[11:55] {nemo} fslr worth a shot here with stop .85 to test highs
[11:56] {nemo} oh well
[11:57] {nemo} watch, this little flush will be it
[11:57] {nemo} wanted tna .32, jumped my bid
[11:57] {RonS} reason DECK is down?  Knight Has ‘All Hands on Deck’ After $440 Million Bug
[11:58] {nemo} ese!  rim shot please
[11:58] {dino} cnqr sm l .93
[11:58] {nemo} I'm going to regret not getting that tna
[11:58] {nemo} yep there goes fslr
[11:58] {nemo} edit yourself nemo
[11:59] {nemo} gmcr probably will test also\
[11:59] {nemo} fslr
[11:59] {nemo} sorry
[12:06] {dino} cnqr stop -.31
[12:08] {nemo} l  gmcr .31 small
[12:08] {nemo} stop under .15
[12:09] {nemo} arguably tna .50 break is a loong, stop under .40 keep it small
[12:10] {nemo} moving stop up tp .20 on gmcr
[12:11] {nemo} if tna holds .40 I feel better about the .50 break
[12:13] {nemo} offering .39 on gmcr
12:13] {Threei}  oh boy
12:13] {Threei}  http://blog.sfgate.com/hottopics/2012/08/02/facebook-has-83-million-fake-users/
[12:13] {nemo} changed to .38 look .39
[12:14] {RonS} if you were ese would be .38927
[12:15] {RonS} wlt kind of a beast today
[12:16] {nemo} finally
[12:16] {nemo} next offer .49
[12:17] {nemo} that was easy
[12:17] {RonS} wtg
[12:17] {nemo} now leave the rest for the ride
[12:18] {nemo} target 25.60
[12:18] {nemo} yeah....right
[12:18] {nemo} TNA is how you say...errr....um....invalidated
[12:19] {nemo} stop under .60
[12:19] {nemo} actually, guess I hve to put it under .50
[12:20] {nemo} yep
[12:21] {nemo} wtf
[12:21] {ese} tie stopped..76 -.25 daaaaa
[12:21] {nemo} missed it
[12:22] {nemo} stop still under .50
[12:23] {nemo} tna break .40 looks interesting
12:23] {Threei} Long Setup:  KCG  .50 break
12:23] {Threei}  Invalidated
[12:23] {nemo} vad...peeing my pants on that one
[12:24] {RonS} 3 mil shares in 2 min...get me a diaper...
[12:24] {nemo} stop moving up to .69 on GMCR
[12:25] {nemo} stop to .79...hate to leave .69
[12:26] {nemo} woodness
[12:26] {RonS} lol
[12:27] {nemo} stop to .89ish
[12:27] {nemo} indexes dropping  
[12:27] {nemo} calling it 24 even
[12:27] {nemo} indexes bothering me
[12:29] {nemo} oh oh
[12:29] {nemo} throw the women and children overboard
[12:30] {nemo} sorry dolores...nothing personal
[12:30] {nemo} testing premarket lows iwm
[12:31] {nemo} http://fwd4.me/170u
[12:36] {nemo} we're getting capitulation volume on spy at S3 daily which is the yearly R1, would think they try to retest 136 135.20 is QPP
[12:36] {nemo} I need to get out more
12:37] {Threei}  lol
[12:37] {nemo} thought that might get a rise out of you
[12:38] {nemo} I'm having images of Jack Nicholson on the typewriter
[12:39] {Will49} heeer's NEMO!
[12:39] {nemo} Eqzaktly...btw, 3 min chart looks fairly strong
[12:39] {dino} cnqr sm l .75
[12:40] {nemo} after 3 days of sitting at your desk naked, without shaving or showering, you have to become concerned
[12:40] {nemo} very interesting dion vwap at 63.40 and indices ripe for a turnaround
[12:40] {nemo} dino
[12:42] {dino} watching it
[12:43] {nemo} test of 136 coming spy
[12:47] {nemo} wow 30 min chart of iwm is a stilleto heel
[12:47] {nemo} is that a valid chart formation?
[12:47] {RonS} will someone get draghi off the can?...
12:47] {Threei}  rofl
[12:47] {nemo} bidet Ron
[12:48] {nemo} and he's washing out his mouth
[12:48] {nemo} rough crowd
12:52] {Threei}  boy, did I cover POT too soon
[12:54] {ese} ya ya......i see that ya ya........STILLETO HEEL....i'm in synce with nemo...awesome
[12:54] {nemo} meds ese....meds...remember I'm possessed
[12:55] {ese} lol
[12:55] {ese} this is not my type of day........have no feel for anything
[12:57] {dino} ssllapppppppppppppp. wake up ese
[13:08] {dino} out cnqr .73 ave +.98
13:08] {Threei}  wtg
[13:08] {dino} ty
[13:10] {ese} L ocz .80
[13:12] {nemo} Ron Dino, RGR
[13:12] {dptl} L vlo .81 .74 stop
[13:13] {dino} ntls drop
[13:14] {ese} actually it is .80663321   blast off
[13:14] {dino} rgr good report
[13:14] {nemo} yeah, big rev beat
[13:14] {nemo} no surprise
[13:14] {nemo} they sell all guns with Obama targets
[13:14] {nemo} oops
[13:15] {nemo} Janitor!!!
[13:15] {ese} lol
[13:15] {ese} poor buggar........
[13:15] {dino} sm l .50
[13:15] {dino} rgr
[13:16] {nemo} NYSE bracketing bid and offers
[13:16] {dptl} half out vlo .91
[13:16] {ese} most significant thing i've learned on this board?
[13:16] {nemo} think 46.80 possible
[13:16] {ese} suspense is killing you isn't it...........
[13:16] {nemo} not really
[13:17] {ese} dont tick nemo off!
[13:17] {nemo} why, my acid tongue?
[13:17] {nemo} I'm just a bunny lover
13:17] {Threei}  good one dp
[13:17] {ese} keller you mean
[13:17] {ese} killer
[13:17] {Will49} way to go DP
[13:18] {nemo} nope...I only kill animals when I'm going to eat them
[13:18] {dptl} ty
[13:18] {ese} nice dp
13:18] {Threei}  people on the other hand...
[13:18] {nemo} Korreqt
[13:18] {Will49} mmmm rabbit stew
[13:19] {nemo} no...How to Serve Man
13:19] {Threei}  looking at KCGm I think it will lose 3, dive sharply, then recover quickly and violently
[13:19] {nemo} Anybody get the reference?
[13:19] {dino} yes
[13:19] {nemo} I thin it's actually "To Serve Man"
[13:19] {nemo} well, you see dead people, duh
[13:19] {dino} twilight zone was't it
[13:20] {nemo} yep
[13:20] {ese} ahhhhhhh
[13:20] {nemo} "It's a cookbook!"
[13:20] {ese} didn't get that
13:21] {Threei}  to serve man?
13:21] {Threei}  I have a quote...
13:21] {Threei}  ... it was twelve o'clock but General Rodrigo de Aguilar was not arriving, someone started to get up, please, he said, he turned him to stone with the fatal look of nobody move, nobody breathe, nobody live without my permission until twelve o'clock finished chiming, and then the curtains parted and the distinguished Major General Rodrigo de Aguilar entered on a silver tray stretched out full length on a garnish of cauliflower and laurel leaves, steeped with spices, oven brown, embellished with the uniform of five golden almonds for solemn occasions and the limitless loops for valor on the sleeve of his right arm, fourteen pounds of medals on his chest and a sprig of parsley in his mouth, ready to be served at a banquet of comrades by the official carvers to the petrified horror of the guests as without breathing we witness the exquisite ceremony of carving and serving, and when every plate held an equal portion of minister of defense stuffed with pine nuts and aromatic herbs, he gave the order to begin, eat hearty gentlemen.
13:21] {Threei}  The Autumn of the Patriarch
13:22] {Threei}  that's how the mutiny headed by aforementioned general was supressed
[13:22] {dino} mg drop
[13:24] {dino} mg sm l .75 ave
[13:26] {dino} .49 is stop
[13:26] {dino} stopped
[13:26] {nemo} I like closer to 19, with suport in the 18.80 area
[13:26] {ese} hmmmmm didn't read anything there that an AK47 couldn't solve....
[13:26] {nemo} but I have fib support at .50 also
[13:27] {dino} 18.50 i see
[13:28] {nemo} plus natural support at the whole
[13:28] {nemo} not my kinda' volume stock anyway
[13:29] {dino} takes .50 re-load
[13:30] {dino} giddy-up
[13:30] {nemo} tempting tna long here
13:35] {Threei} Long Setup:  POT  .10 break
13:36] {Threei}  If holds  42
13:36] {Threei}  target 1:3
[13:42] {nemo} tna l .41 small
[13:42] {nemo} stop under .30
[13:43] {nemo} nice bid under me now at .43
[13:43] {nemo} sorry
[13:43] {nemo} wrong stock
[13:48] {dptl} come on pot...go
[13:48] {Will49} go potty
06[13:48] * Threei kicks POT in the rear
[13:49] {nemo} so juvenile
13:49] {Threei}  hmmm... where the heck its rear...
[13:49] {nemo} int the pottom
[13:49] {dino} that sounds bad
[13:49] {nemo} summer trading is brutal for the psyche
13:49] {Threei}  well, thag's nemo for ya
[13:49] {Will49} and the bottom
[13:50] {nemo} TMI
[13:50] {nemo} YEah, baby partialed .51
[13:50] {nemo} held on by the proverbial hair
[13:50] {dino} gj
[13:51] {nemo} ty only .10 but it was so close, next time I look it took my offer in the blink of an eye
[13:51] {nemo} and now it might stop out on the other side
[13:51] {nemo} blink of an eye, snap of a sphincter
[13:51] {dino} getting out mg some .01, .07, remainder .03, +.51 ave
[13:51] {nemo} nah, not the same poeticism
[13:52] {nemo} bless you dino
[13:52] {dptl} can we trail under .04 now pot
[13:52] {nemo} Rorschach trader that you are
[13:52] {dino} roflol
[13:52] {nemo} you ever see that movie?
[13:54] {dptl} no fill at .20 yet
[13:55] {dptl} Vad where is your stop now?
[13:55] {nemo} out
[13:55] {dino} no
[13:55] {nemo} The Watchmen, great movie
13:55] {Threei}  .04
[13:56] {nemo} damn, probably got rinsed on my stop
[13:56] {dptl} ok
[13:58] {nemo} .50 level gmcr
[14:03] {dptl} i am out flat pot
[14:03] {nemo} gonna start a small short if gmcr begins to drop that .50
[14:04] {nemo} in
[14:04] {nemo} oh oh
[14:05] {nemo} bid .36
[14:05] {nemo} ok
[14:05] {nemo} stop to b/e
[14:06] {nemo} out
[14:06] {nemo} that low was fib ratracement of the run from yesteday's low
[14:07] {nemo} lot more teeth pulling after this morning
14:08] {Threei}  (ES) Spain banks set to formally request aid in the upcoming days - financial press- Reminder: The bank of Spain on 7/31 commented that the audit of Spain banking sector had been completed, with final results to be released in the 2H of September
14:11] {Threei}  KCG bottom is nowhere in sight yet it seems
14:11] {Threei}  loss of 3 didn't lead to fast dive
14:15] {Threei}  really not sure why I haven't partialed out at .19
14:16] {Threei}  must have fainted at the moment
[14:20] {nemo} amazingly dead so far this afternoon
[14:21] {Will49} Kofi Annand's fault
[14:26] {nemo} boy did I get disconnected at the wrong time
[14:38] {dptl} can't beleive this pot.....must from BC
[14:40] {nemo} would think they want to keep it above .36
14:44] {Threei}  there seems to e a campaign by idiots who don't understand what tape reading is, givong TTR 1 star because "there is no tape reading in it"
14:45] {Threei}  for some reason I get private e-mails by those who loved it but public reviews by those who didn't
14:45] {Threei}  don't know why those who like it are so shy, unlike those who never got to look into what tape reading really is,
14:45] {Threei}  and think it's staring at T&S window
14:46] {Threei}  been years since I've written this: http://blog.realitytrader.com/2007/11/whats-in-name-or-what-is-tape-reading.html
14:47] {Threei}  but who bothers to read things
14:48] {Threei}  world full on lunatics... one gives 1 star to MPP because amazon mixed up something and sent him wrong book
14:48] {Threei}  how on earth this translates into poor rating of MPP in his warped mind is beyond me
[14:55] {scottie} Rated it 5 a while ago Vad
14:55] {Threei}  :)
15:09] {Threei}  sheesh POT
[15:10] {dptl} telling you  it's a BC pot...lol
[15:11] {Will49} BC Bud our biggest agricultural product
[15:11] {Will49} so I've heard
[15:12] {dptl} yep
[15:12] {thomcbell} kcg another break
[15:12] {Will49} break and a half
15:13] {Threei}  you know, many years of trading taught me that any money made in august day should be framed
15:13] {Threei}  and today is profitable
15:13] {Threei}  so no complaints
[15:13] {ese} I've got to take off everyone.......I have a meeting re the Symphony Splash here in Victoria(playing on a gigantic barge in the middle of our harbor).....catch you tomorrow...still L ocz .80
15:14] {Threei}  KCG, that absence of fast action on 3 break was a clue that se,lling isn't done yet
15:14] {Threei}  take care ese
[15:14] {ese} cya vad
15:14] {Threei}  in fact, it may never be done
15:15] {Threei}  it trades like badly damaged goods
[15:15] {dino} cya ese
[15:15] {dino} so far august been very good to me
[15:16] {Will49} Martin Armstrong predicts market panic this month
15:16] {Threei}  I know why dino
15:16] {Threei}  EU
15:16] {Threei}  causes volatlity, volume, fear
15:17] {Threei}  unlike usual august when nothing happens
[15:17] {Will49} a fine time I've picked to learn this business
15:17] {Threei}  as much as I skeptical about gurus and their predictions, I wouldn't dismiss this possibility, will
15:18] {Threei}  Armstrong is not just another guru
[15:18] {Will49} :):(
[15:18] {dino} you are right vad. i need the volitility for my edge
15:18] {Threei}  and situation is very very precarious
15:18] {Threei}  yes... and I need volume
15:18] {Threei}  my setups work so-so in low volume l,istless environment, and the more volume we have the better they work
[15:19] {Will49} so this predicted panic will be goo?
[15:19] {Will49} good?
15:19] {Threei}  oh yes
[15:19] {dptl} got to go..see ya tomorrow
15:19] {Threei}  you should see our record during selloff of 2008
[15:19] {Will49} smoke em if you got em DP
15:20] {Threei}  take care dp
[15:20] {dptl} lol
[15:20] {dptl} i wish
[15:20] {dino} indeed will, very good for trading
[15:20] {dino} cya dp
[15:20] {Will49} made my day
[15:20] {Will49} dino's comment
15:20] {Threei}  think of it this way:
15:21] {Threei}  1. a lot of volume means both sides particpate, smart money and crowd, and out setups are based on using one against the other
15:21] {Threei}  2. strong selling goes against the crowd, and our setups are based on going against the crowd
15:22] {Threei}  3. strong selling is very hostile environment for investors and very favorable for traders, adn we are on the extreme part of the specter, to traders; side
15:23] {Threei}  put all three together, and you can see how we run for 2 or 3 months during fall of 2008 with no single losing day
[15:23] {Will49} yea...thanks for reminding me
[15:23] {dino} panics = profits
[15:24] {dino} my way of trading most days, stock drops fast (panics) i buy, spikes hard (euphoria) i sell
[15:25] {Will49} I think I learn more from you're (all of you) advice than doing demo trades
[15:27] {dino} vc drop
15:28] {Threei}  it all combines will
15:28] {Threei}  peices of puzzle
15:28] {Threei}  words, actuasl expwerience, visuals
15:28] {Threei}  sooner or later you hear click
15:28] {Threei}  and things suddenly become so very clear
[15:29] {Will49} come on clear
15:29] {Threei}  read stages of trader's development in psychology part of the blog again
[15:30] {Will49} actually, things are getting clearer one itsy bit every day
15:30] {Threei}  right
15:30] {Threei}  but at somepoin t there will be transition from quantity to quality
15:30] {Threei}  some kind of threshold
15:30] {Threei}  after which you just won't believe how simple things become
15:31] {Threei}  and won't understand why you made them so complicated before
[15:31] {Will49} I hope it's soon...I don't even buy green bananas at my age
15:31] {Threei}  lol
[15:31] {Will49} Tks vad
15:31] {Threei}  come on... I am not sure I'd want to compete with you in weight lifting
[15:32] {Will49} that was a halogram you say
[15:32] {Will49} saw
15:32] {Threei}  well, it was very fir hologram
15:32] {Threei}  fit
[15:32] {Will49} tks
[15:33] {dino} you 49 will?
15:33] {Threei}  last attemopt to squeeze something out of today:
[15:33] {Will49} i have kids older than 49
15:33] {Threei} Long Setup:  FCX  .50 break
[15:33] {dino} lol, ok then
15:35] {Threei}  .44 stop
15:44] {Threei}  half out
15:45] {Threei}  stop to .49
[15:48] {RonS} +.11 thanks 3i
15:48] {Threei}  1/4 more out
15:48] {Threei}  :)
[15:48] {dino} gj
15:48] {Threei}  unexpectedly nice move into close
15:48] {Threei}  thought I'd be lucky to get 6 cents
15:51] {Threei}  stop .54 last piece
[15:53] {dino} mhp spike
15:54] {Threei}  McGraw-Hill Inc PE firms said to be interested in making bids for the education unit - financial press
15:54] {Threei}  purrrfekt
15:54] {Threei}  out .68
15:54] {Threei}  thank you all, have a great evening
15:54] {Threei}  see you tomorrowq
[15:55] {Will49} Thanks for everything you guys! Am away tomorrow
[15:55] {dino} thx for ideas all, gn

Aug .01 2012

Most of the day was boring and empty, as market stalled in waiting for FOMC. What we did find though worked so the day was not wasted. WFC long in the morning was particularly pleasant play. Those of room members who trade "pulp" stocks (see http://www.realitytrader.com/tradingroom/#instructions  for definition) had a lot of fun and profits today. On to the ECB - it's their turn to throw the wrench in the spokes.


Session Time: Wed Aug 01 00:00:00 2012
[09:05] {jackharry} good morning
[09:05] {Threei}  morning jack
[09:06] {cipher} gm
[09:07] {Threei}  cipher :)
[09:10] {dino} gm
[09:10] {Threei}  dino :)
[09:16] {scottie} gm
[09:16] {Threei}  scottie :)
[09:19] {ese} gm
[09:20] {dino} nice nasty
[09:20] {Threei}  ese :)
[09:20] {Threei}  dino... getting ready for your Christmas rounds?
[09:21] {Will49} GM
[09:21] {Threei}  will :)
[09:22] {dolores} hello there
[09:22] {dolores} GM
[09:22] {Threei}  dolores :)
[09:22] {Beau} good morning all
[09:22] {Threei}  beau, welcome back
[09:23] {Beau} thanks, good to be back
[09:23] {nemo} I need to log in after all the pleasantries...it just puts a cloud over my day
[09:23] {dino} lol 3i, symbol nice
[09:23] {Threei}  ahhhh... I thought you started making lists :)
[09:24] {Beau} enjoyed being with kind, nice people.  Like nemo.
[09:24] {Threei}  there goes nemo's morning
[09:24] {Threei}  guys, everyone got the e-mail with two months outlook thingy?
[09:25] {thomcbell} no
[09:25] {jackharry} no
[09:25] {Threei}  http://tradinglog.realitytrader.com/2012/07/august-september-2012-outlook.html
[09:25] {scottie} no, but I read it in the trading log
[09:25] {Threei}  are you getting e-mails with sunday links?
[09:25] {dino} yes
[09:26] {thomcbell} i have gotten them periodically - but have not for several weeks
[09:26] {Threei}  please check your junk boxes, maybe need to correct filters
[09:26] {thomcbell} ok
[09:26] {Threei}  there are couple cases where they just don't get to some
[09:26] {Threei}  so make sure to check the log over the weekend
[09:27] {scottie} I like the analogy with the games
[09:27] {Threei}  Week wrap-up ususally appears on Fri
[09:27] {Threei}  and Nemo's Findings - when Nemo finds things out
[09:28] {Will49} ooohhhh
[09:28] {Threei}  it's broadened from pure pivots to included the views on weeks action and next week assumptions,
[09:28] {Threei}  so don't skip it
[09:28] {dptl} gm
[09:28] {Threei}  dp :)
[09:28] {Threei}  what happened will?
[09:28] {nemo} I consult with the spirits
[09:28] {nemo} you know....
[09:28] {Threei}  and chicken entrails I assume
[09:28] {nemo} vodka, gin, rum...etc
[09:29] {Threei}  oh, those spirits
[09:29] {nemo} fslr
[09:29] {Will49} just disappointed your insult of nemo wasn't stronger:)
[09:30] {Threei}  day just started
[09:30] {Will49} I have faith
[09:31] {Threei} Long Setup:  SLW  .10 break
[09:31] {Threei}  If holds  27
[09:32] {Threei} Long Setup:  FCX  .55 break hl
[09:32] {Threei}  If holds  .45
[09:32] {dino} nice sm l .00
[09:33] {Threei}  Invalidated  SLW
[09:33] {Threei}  FCX 1:1 if got it
[09:33] {Threei}  thought SLW was two-sided
[09:34] {Threei}  LVS, bounce watch
[09:34] {Threei} Long Setup:  LVS  37 break hl
[09:35] {Threei}  Invalidated
[09:37] {Threei} Long Setup:  KCP  .40 break
[09:37] {Threei}  If holds  .30
[09:37] {Threei}  JCP
[09:37] {thomcbell} gdx - bananas
[09:37] {Threei}  bounce candiidate too
[09:38] {Threei} Long Setup:  DGX  .50 break
[09:38] {Threei}  GDX
[09:38] {Threei}  what's with typing
[09:38] {Threei}  If holds  .40
[09:38] {RonS} hog pulp
[09:38] {Threei}  JCP, change to .25 break
[09:39] {Threei}  to .10 now
[09:39] {Threei}  If holds  22
[09:40] {dino} 07 red
[09:41] {dolores} out FCX
[09:43] {dolores} missed JCP still on to entry here?
[09:44] {Threei}  on .10 recross, yes
[09:44] {dolores} ok
[09:44] {Threei}  unless loses 22
[09:44] {dolores} ok
[09:44] {Threei}  no go
[09:44] {dolores} invalidates
[09:44] {nemo} weird morning
[09:45] {RonS} hog sm l 38.10
[09:45] {Threei}  a lot of weakness
[09:45] {RonS} out hog 40.10  +2.00
[09:45] {Threei}  eeck
[09:45] {cipher} wow
[09:45] {scottie} beautiful ron
[09:45] {cipher} nice ron
[09:46] {Will49} holy
[09:46] {dino} wtg
[09:46] {RonS} ty
[09:47] {Threei} Long Setup:  WFC  .45 break
[09:48] {Threei}  half out
[09:48] {nemo} big C&H on the daily
[09:48] {Threei}  and 52 week highs
[09:49] {dino} amt spike
[09:49] {Threei}  stop .39
[09:49] {Threei}  let's see if we can get a good run out of it
[09:49] {Threei}  offr 1/4 more near .65
[09:49] {Threei}  and last piece for a bigger move
[09:50] {nemo} wow almost 8mil shares already
[09:50] {ese} what bizzare trading and spreads with amt earlier......was watching that just go nuts dino
[09:50] {dino} amt sm s .45
[09:51] {ese} RON!!!!!!! 2 bills with hog.....nice one
[09:51] {dino} cov .90, +.55
[09:51] {Threei}  gj
[09:51] {dino} ty
[09:51] {ese} nice job also dino
[09:51] {Threei}  1/4 more out WFC
[09:51] {Threei}  stop to .44
[09:51] {Threei}  don't be in a rush to sell last piece
[09:52] {dino} nice stop -.33
[09:52] {Threei}  nice's naughty
[09:52] {dino} yeah
[09:52] {dino} wasn't a bad report
[09:53] {Threei}  bad gyidance
[09:53] {Threei}  guidance
[09:54] {dolores} MCP halted
[09:54] {Threei}  Excessive volatility in a basket of US stocks being attributed to rumors of algorithmic trading problems at Knight Capital
[09:55] {Threei}  NVS KWK ARC ANF DDD KCG HLF NOVN.CH N MCP MPC
[09:55] {dolores} JCP at lows
[09:55] {Threei}  bots gone wild
[09:56] {nemo} mcp halted
[09:56] {Threei}  so's CLGX
[09:56] {Threei}  and KRO
[09:57] {Threei}  and CO
[09:57] {nemo} COH
[09:58] {Threei}  let's back off a liuttle while Knight sorts it out
[09:59] {nemo} s coh .97 stop above the whole
[09:59] {thomcbell} i bet qcom is in there too
[09:59] {thomcbell} possibly gdx
[09:59] {thomcbell} kcg or kgc ?
[10:00] {dino} 07 red
[10:00] {nemo} partial .83
[10:00] {RonS} deck pulp
[10:00] {dolores} is system failure or what?
[10:00] {dino} vpu spike
[10:00] {dino} sm s .50
[10:01] {RonS} gme murdered the shorts...4 mil sh already
[10:02] {RonS} rsh too
[10:02] {dino} cov .00, +.50 that things nuts
[10:02] {dino} vpu
[10:02] {Threei}  KCG
[10:02] {Threei}  Knight Capital Group Inc. Issues communication to clients; requests seeking alternatives to execution- Firm discloses that due to a technology issue, Knight is experiencing a delay in processing orders of Listed securities. They are asking that you seek an alternate destination for the execution of these securities until further notice. They indicate order handling and execution of OTC securities is not affected.
[10:03] {dino} vsm s vpu 70
[10:03] {Threei}  let's try for .85 - .90 WFC
[10:03] {dino} .70
[10:04] {dino} cov 82.53, +1.17
[10:04] {Threei}  sheesh
[10:04] {dino} dropped another buck after cover
[10:04] {Threei}  you guys are hitting big ones today like it's nothing
[10:05] {Threei}  QFC at 1:3
[10:05] {dino} pulp day
[10:05] {Threei}  very good chance for 1:4
[10:05] {Will49} Vad is over excited (QFC?)
[10:06] {Threei}  WFC
[10:06] {Threei}  fat fingers
[10:06] {dino} wow, its only 10 am
[10:06] {RonS} oil new high, copper ugly
[10:06] {nemo} stop .90ish
[10:07] {Threei}  {copper} I want second opinion
[10:09] {dino} ssys spike
[10:11] {nemo} l coh .12
[10:11] {nemo} stop under whole
[10:11] {cipher} HOG L .60
[10:12] {nemo} ow
[10:12] {RonS} wow look mtw chart...
[10:12] {cipher} OUT .30 +.70
[10:13] {dino} what do you see/
[10:13] {Threei}  done with WFC
[10:18] {dolores} JCP tank
[10:18] {dolores} any news?
[10:18] {Threei}  nothing fresh
[10:19] {dolores} maybe follwing the market
[10:19] {Threei}  earlier, cautious comments by research firm
[10:19] {dolores} thxs
[10:22] {cipher} aapl l.54
[10:23] {cipher} out 1/2 610.25 +.69
[10:24] {RonS} vmw sm l .90
[10:24] {ese} L swn .58
[10:26] {cipher} out aapl in full 611.10 +1.56
[10:30] {RonS} crude spike
[10:36] {cipher} uso l .17
[10:36] {ese} out swn .62 +.04
[10:36] {ese} loosing a little confidence there
[10:37] {ese} L ocz .01
[10:37] {cipher} out uso .22 +.05
[10:38] {RonS} cipher fwiw uso is a flawed instrument for trading oil
[10:38] {cipher} why
[10:39] {RonS} imo...blend of futures contract so oil price can be spiking near and futes down in out mo contracts, etc
[10:39] {cipher} ic
[10:39] {RonS} better to trade oxy, apa...others
[10:39] {cipher} ok thx ron
[10:40] {dino} nice sm l .00
[10:40] {RonS} stock name or bet on nemo?
[10:40] {dino} cnw sm l .55
[10:41] {Threei} Short Setup: LVS  .75 break
[10:41] {Threei}  If holds  .85
[10:47] {nemo} we're in suspended animation until the bearded clam pronouncement
[10:48] {Threei}  French Parliament Passes Transaction Tax in Hollande�s Budget
[10:48] {nemo} well, they're bourse should shut down
[10:49] {Threei}  they have bourse?
[10:52] {Threei}  If small business is the �engine� of the U.S. economy, it's leaking oil and running on only three cylinders according to Wednesday's release of a closely followed loan activity report
[10:53] {Threei}  well, when the man at the helm tells them they had nothing to do with their own success...
[10:54] {dino} exactly. not inspiring
[10:56] {Threei}  hidden (not so well, mind you) message is: you are no more hardworking or smart than the others; you just work the system that more decent people support; you are necessary evil, we tolerate you (barely), so know your place
[10:56] {dino} out nice .42, +.42
[10:57] {Threei}  nice
[10:57] {Threei}  umm... well.. grrr
[10:57] {Threei}  this stock needs some other symbol
[10:57] {dino} lol
[10:57] {dino} cnw stop -.30
[10:58] {dino} his real hidden message is "from those who can to those who don't"
[10:59] {Threei}  to those who don't want to
[11:00] {dino} wtf cnw rinses
[11:01] {dino} he's a modern day robin hood (worst story ever told)
[11:01] {dino} idcc spike
[11:01] {dino} sm s .40
[11:02] {dino} ouch out -.50
[11:04] {dino} sm s .20
[11:04] {dino} damn stop -.30
[11:06] {dino} sm s idcc .25
[11:07] {dino} no go again
[11:07] {dino} opps, it is working
[11:07] {nemo} you oughta' run fib retracements on those huge pops dino
[11:08] {dino} i should
[11:08] {nemo} they tend to react nicely to them
[11:09] {RonS} idcc s from 33.80
[11:09] {RonS} too fast to post since took cnw .42 to .65  thanks dino
[11:09] {dino} cov idcc .00, +1.25
[11:10] {nemo} if there's strength it'll bounce here
[11:10] {nemo} yep
[11:10] {dino} how do i add fibs to freestockcharts.com nemo?
[11:11] {nemo} see the draw column? just to the left of the chart?
[11:11] {dino} y
[11:11] {nemo} 9th button down
[11:12] {dino} fib retrace/
[11:12] {dino} ?
[11:12] {nemo} you can change the settings and do either fib retracements or extensions
[11:13] {RonS} cov idcc 32.30 +1.50
[11:13] {nemo} press the button, then put your cursor at the bottom, click, run it to the top, and click again
[11:13] {dino} gj
[11:13] {nemo} Then, click on the line and choose "edit" from the menu
[11:14] {RonS} nsph l 3.10
[11:15] {RonS} lulu sm l .10
[11:17] {Threei} Short Setup: LVS  .70 break
[11:17] {Threei}  If holds  .80
[11:19] {nemo} 50% retrace of idcc is here
[11:21] {dino} hitting the fib fan levels
[11:21] {nemo} I've never used that
[11:22] {dino} i'm probably using it wrong
[11:22] {dolores} LVS trying to hold that .70
[11:23] {nemo} the retracement/extension tool is much easier...run it from a swing low/high to another swing low/high and go
[11:23] {nemo} especially for something like an idcc that blows by all obvious support and resistance
[11:24] {RonS} heard moved off court ruling...
[11:24] {RonS} 14% float short idcc
[11:26] {dolores} LVS still on for S?
[11:26] {dolores} no
[11:26] {Threei}  probably not
[11:26] {Threei}  may reestablish
[11:28] {dino} ddmg spike
[11:30] {RonS} out lulu -.10
[11:31] {nemo} this might be the last pop in idcc before the next leg down
[11:31] {dino} idcc want the 50?
[11:31] {nemo} would likely go to .30.30 area
[11:31] {dolores} FARO down nice
[11:31] {dino} seeing 50 @ 30.25
[11:32] {nemo} http://www.freestockcharts.com?emailChartID=09cdd68d-b5fc-488e-9cec-ea7e5204fd08
[11:32] {RonS}  NYSE currently reviewing trades in 148 symbols
[11:33] {RonS} meli sm l 65.10
[11:37] {ese} What time does Ben Berdumb dumb speak.......I need to when to short the whole frickin world
[11:37] {ese} know when
[11:38] {Threei}  decision is 14:15
[11:39] {Threei}  read yesterday's post on two months outlook ese
[11:39] {Threei}  you'll have bwetter idea what to expect and where odds fall
[11:39] {nemo} see how price action bouncing between the 50% retrace and the 38.2% on idcc
[11:39] {ese} tks
[11:41] {dino} y
[11:43] {ese} are everbodys scanners at a standstill like mine............barely anything moving
[11:44] {dino} 07 moving
[11:44] {nemo} wow...I'm going to edit myself
[11:44] {nemo} sheesh...just short nflx until 0\
[11:44] {nemo} 0
[11:44] {Threei}  yes ese
[11:46] {dino} rog spike
[11:46] {dino} 07 red
[11:47] {RonS} Knight tells clients to excute trades eleswhere for now
[11:48] {Threei}  oh boy
[11:48] {Threei}  is there anyone here who wouldn't have me on ignore?? :)
[11:48] {ese} black knight
[11:48] {ese} ?
[11:48] {ese} lol
[11:48] {nemo} your accent is like fingernails across a chalkboard
[11:48] {Threei}  10:02] {Threei} Knight Capital Group Inc. Issues communication to clients; requests seeking alternatives to execution- Firm discloses that due to a technology issue, Knight is experiencing a delay in processing orders of Listed securities. They are asking that you seek an alternate destination for the execution of these securities until further notice.
[11:49] {Threei}  - US equity markets are around the unchanged mark this morning following some weak US data and strange gyrations in a wide basket of stocks blamed on an out-of-control algorithm.
[11:49] {Threei}  Many traders continue sit on their hands ahead of the key ECB and Fed policy meeting, although there was notable weakness in commodity futures coming into the US session, suggesting that some traders do not expect great things out of either central bank
[11:49] {dino} here come the lawsuits and congressional investigation of knight, poor bast@rds
[11:50] {ese} out of control algorhthm?
[11:50] {nemo} and new calls for the trader tax
[11:50] {dino} yes. can hear it already
[11:51] {Threei}  I saw twitter gping nuts about how it confirms their desperate screams for reigning in HFT and algos
[11:51] {Threei}  never mind that this kind of things happened just as easy with manual erros
[11:51] {ese} were talking about the year 3012 are we.......where the algorhthm jumps out of your computer and strangles you to death or something.........plots your demise while looking at your from the screen?
[11:51] {Threei}  anyone remember expression "swiss trainee"?
[11:52] {ese} kinda
[11:52] {Threei}  there was a bad case of market tanking a lot very fast for no good reason
[11:53] {ese} just recently right......last summer or something maybe 2 yrs ago
[11:53] {Threei}  in an hour or so it became known that some swiss bank or broker had trainee making an error in big order
[11:53] {Threei}  exaggerating magnitude of order by couple zeros or so
[11:54] {Threei}  no, it was WHILE AGO
[11:54] {ese} yes yes..........
[11:54] {Threei}  before akgos era
[11:54] {Threei}  so, the standing joke for months if not years was
[11:55] {Threei}  mentor to Swiss trainees: "today we study Lean on Sell button"
[11:55] {Threei}  and other variations of that
[11:55] {Threei}  any sudden move caused immediate comments of this kind
[11:55] {ese} lol
[11:55] {Threei}  "swiss trainees at work"
[11:56] {Threei}  yet new generation of traders knowing no life before twitter think it all happens for a first time
[11:56] {ese} Lean On Sell Button Class 101.......a must study for sure
[11:56] {Threei}  lol
[11:57] {Threei}  and of course those who made crusade against bots their claim to fame are jumping up and down
[11:57] {Threei}  "flash crash 2," my a$$
[11:58] {dino} cnw sm l .01
[11:58] {Threei}  few things irritate me more than ignorance...
[11:58] {Threei}  and few things scare me more than deadly combination of ignorance and arrogance
06[12:01] * Threei slaps cc_8 around a bit with a large alarm clock
[12:01] {cc_8} LOL
[12:02] {ese} L cnw .13
[12:03] {ese} a little late but what the H..
[12:03] {nemo} spxu .56 small
[12:03] {nemo} well .57
[12:03] {nemo} top under .50
[12:03] {nemo} stop
[12:05] {nemo} pit
[12:05] {nemo} out
[12:07] {ese} got a target in mind dino  cnw?
[12:07] {jackharry} two sided set up on LVS, break of 37 or .90?
[12:09] {ese} out cnw......good enough .35 +,21  I wasn't small
[12:09] {ese} tks dino
[12:11] {nemo} gmcr
[12:15] {dino} out cnw .30, +.29
[12:15] {dino} yw ese
[12:28] {nemo} gs long tempting
[12:32] {dino} cnw sm l .02
[12:39] {dino} out cnw .34, +.32
[12:46] {ese} me thinks it's gonna try it again dino
[12:50] {dino} maybe so
[12:51] {dino} sm l .01
[12:51] {Threei}  (GR) Greece Democratic Left's Kouvelis: Coalition government has reached an agreement on an outline for further cuts- Political forces agree on main points. - As of yet have not worked out all the details of the plan. - Follow up: Greek PASOK party's Venizelos: Parties agreed on �6B in wage and pension cuts, tried to convince other parties to pursue a bailout extension now.Will accept the Govt's decision on �11.5B in measures, Partners agree on cuts over 2 year time period - Budget cuts now to be given to the Troika for greater examination
[12:52] {Threei}  (EU) IMF's Lagarde: There is a very clear decline in confidence in Europe, EU authorities need to be in full crisis management mode- Leaders in Europe must clarify the outline of the euro zone roadmap to dispel uncertainty. - EU needs to solve the Spain bank bailout issue in September. - LIBOR scandal shows that financial reform process is not complete. - Despite impressive budget cuts, Greece can do much more in structural reforms. - IMF never leaves the table (responds to question on IMF status regarding Greece bailout)
[13:00] {Threei}  Bollywood actress: "I have become the first Indian to pose naked for Playboy and nobody can take away that achievement from me"
[13:02] {Threei}  now I know for sure you are all asleep
[13:03] {dino} zzzzzzzzzzzzzzzzzzzz
[13:05] {RonS} out vmw .65 +.75
[13:05] {Threei}  wtg
[13:06] {dino} gj
[13:12] {dino} prlb spike
[13:12] {dino} wide
[13:13] {nemo} http://fwd4.me/16xL
[13:15] {dino} out cnw .33, +.32 ty ese
[13:20] {ese} zzzzzzzzzzzzzzzzz....well done i kinda zoned out forgot about it
[13:20] {thomcbell} long setup ebay 44.28 break if holding 44.18
[13:21] {ese} one heck of an achievment i'd say...........
[13:23] {dino} lol
[13:27] {Threei}  US) Preview: FOMC rate decision due around 14:15ET- The FOMC policy announcement today is the first central bank decision in a busy 24 hour period for central banks. Some market watchers are hoping that Bernanke's recent reiteration that the Fed is ready to do more if necessary will result in a QE3 announcement today, that might be followed in semi-coordinated fashion by a raft of new extraordinary policy programs from the ECB on Thursday.
[13:27] {Threei}  - It is more likely, however, that the FOMC will not take aggressive new action today for a number of reasons. First, the Fed may be reluctant to take on additional balance sheet commitments after it just extended Operation Twist at the June meeting. Today's meeting does not include a press conference: Bernanke might see wisdom in waiting for the September FOMC meeting which will have a press conference that will allow a fuller explanation of the reasoning for another balance sheet expansion. It would also allow him to set the table for QE3 at the Jackson Hole symposium in late August. Also, although economic data has turned decidedly sour in the last few months, a slightly better than expected advance Q2 GDP print last week and the prospect for a better number in this Friday's payroll data could give the Fed some cover to hold off on QE3, allowing them to gather another month's worth of data to confirm the economy is stalling.
[13:28] {Threei}  Other options that are open to the FOMC include cutting the IOER or further revisions in the policy statement language to convey the Fed's readiness to act. If the Fed wants to show deep concern about the economic slowdown, it could shift its low rate pledge from late 2014 to mid 2015 as another incremental step before resorting to QE3.
[13:31] {thomcbell} ebay invalidated
[13:49] {dptl} 2:15 is that fomc? right
[13:49] {Threei}  yes
[13:50] {dptl} ty
[13:58] {dino} fire lod
[14:03] {RonS} @conan_o_brien: More bad news from $UBS bank bet $500MM on Switzerland vs. Mexico in soccer
[14:03] {dino} lol
[14:06] {Threei}  lol
[14:06] {nemo} http://fwd4.me/16xQ
[14:13] {Threei}  oops
[14:14] {RonS} gold pounded
[14:14] {Threei}  *FOMC HOLDS FED FUNDS RATE TARGET AT 0.25% (AS EXPECTED): ECONOMIC ACTIVITY HAS DECELERATED SOMEWHAT IN 1H; REITERATES LOW RATE PLEDGE THROUGH 2014; HOUSING SECTOR REMAINS DEPRESSED- Vote: 11-1
[14:14] {Threei}  everything is
[14:14] {ese} the same?
[14:15] {Threei}  ?
[14:15] {Will49} SNAFU
[14:15] {nemo} no FUBAR
[14:15] {ese} you said everthing is.......is what?
[14:15] {Will49} that too
[14:15] {Threei}  to Ron's "gold pounded" ese
[14:15] {Threei}  - The Committee will closely monitor incoming information on economic and financial developments and will provide additional accommodation as needed to promote a stronger economic recovery and sustained improvement in labor market conditions in a context of price stability.
[14:16] {Threei}  this is the key phrase
[14:16] {Will49} oh, i feel so much better now
[14:16] {Threei}  no immediate decisions, just as yesterday's outlook post forecast
[14:16] {ese} market tanks but everthing seems fine to me
[14:16] {Threei}  no QE3 right away, ese
[14:16] {Threei}  that's all
[14:17] {Will49} market no likee
[14:17] {thomcbell} tough to go meaningfully short with ecb tomorrow
[14:17] {Threei}  market hoped for further easing and didn't get it
[14:17] {dolores} and no extension of low rates
[14:17] {Threei}  right
[14:17] {nemo} l .25 upro
[14:17] {Threei}  - To continue through the end of the year its program to extend the average maturity of its holdings of securities as announced in June
[14:18] {nemo} out
[14:18] {nemo} sheesh
[14:19] {nemo} l tna .51
[14:19] {nemo} stop under .30
[14:19] {nemo} small btw
[14:20] {Threei}  while this is valid setup, diaper should be kept close
[14:20] {Threei}  good one
[14:20] {nemo} partialed .80
06[14:20] * Threei slaps nemo around a bit with a large roll of cash
[14:20] {ese} the fact that they didn't get the easing to my mind means things are fine......
[14:21] {nemo} diaper, hemmrhoid pillow, and KY
[14:21] {Threei}  you haven't read that post ese...
[14:21] {ese} not yet
[14:21] {Threei}  please do
[14:21] {nemo} I pick up the  percosets later
[14:21] {Threei}  there is absolutely nothing fine
[14:22] {nemo} stop to b/e
[14:22] {Threei}  very different considerations influence the timing of more easing
[14:23] {nemo} he won't move until Europe does, he has to worry about the strength of the dollar against the Euro
[14:23] {nemo} more at .00
[14:23] {nemo} When Euro starts printing, he'll have to print to keep the value of the $ down
[14:23] {Threei}  better yet, EU falls apart - he won't have to do antyhing but print dollars into huge demand
[14:23] {nemo} stop to .59, I prefer .69 but it doesn't make sense
[14:24] {dino} i think thts correct vad
[14:24] {nemo} o.k. up to .69
[14:24] {RonS} $10 gold bounce
[14:25] {Threei}  I am telling you... while they of course make all the PC sounds about how they want EU to survive, its collapse is their wet dream
[14:26] {ese} big economic picture things are not fine i get that.....i'm just concentrating on what i see in front of me at this moment....that fomc didn't make 2 hoots of a difference to my overall feelings about this market......it's negative ....and thats always in the back of my mind when i make a trade
[14:26] {nemo} out .68
[14:26] {nemo} I may regret that
[14:26] {nemo} yeap
[14:26] {Threei}  well, the idea is:
[14:27] {nemo} x drips .82
[14:27] {nemo} looky
[14:27] {Threei}  market wants to go up if there is additional easing
[14:27] {Threei}  because it means additionasl money ingflux
[14:27] {nemo} shorted .81
[14:27] {Threei}  so it creeps up in hope for easing to be hinted clearly in the ;anguage, if not announced outright
[14:27] {ese} ya definitely.....
[14:27] {nemo} stop is above .90
[14:27] {Threei}  and drops when there is none of that
[14:28] {Threei}  that's how Fed=related part looks
[14:28] {Threei}  then there is EU-related part
[14:28] {Threei}  existential threat
[14:29] {nemo} cmon .71
[14:29] {nemo} yeah
[14:29] {nemo} that's better
[14:29] {nemo}  stop is .86
[14:29] {ese} lol.....thats a good one...existential threat
[14:29] {ese} i like that
[14:29] {nemo} frig me on tna
[14:29] {RonS} what?...Federal Reserve says economy has slowed, signals new steps to boost growth at 2-day meeting
[14:30] {nemo} they assasinating Congress?
[14:30] {ese} huh
[14:30] {nemo} "signals new steps to boost growth at 2-day meeting"
[14:31] {RonS} when does play start...when coach signals...or when runner goes?
[14:31] {nemo} took more .61
[14:32] {RonS} these headline writers think they are selling something...
[14:32] {nemo} algos are writing headlines now Ron
[14:32] {nemo} stop is .76
[14:32] {RonS} at least not algores...
[14:32] {nemo} nice one Ron
[14:33] {dino} that was a good one
[14:33] {nemo} sublime
[14:33] {dino} of course, gore most likely invented algos
[14:34] {RonS} heard his cousin died...loved watching him debate buckley in '68during the dem convention
[14:35] {ese} ok..........so it's double speak........things are the same
[14:35] {RonS} both those guys had an unparrelled command of the alnguage
[14:35] {dino} and yet... things are the same
[14:37] {nemo} yeah...thing of beauty
[14:37] {nemo} Plu c'est change, plu c'est le meme chose
[14:38] {nemo} ca
[14:38] {nemo} got stopped out last of X
[14:45] {nemo} short cat .80
[14:45] {nemo} stop above .90
[14:46] {nemo} partial .70
[14:46] {nemo} tight stop above .85
[14:46] {nemo} this is a bit stressful
[14:47] {nemo} stop to .80
[14:47] {nemo} look at this haammer
[14:48] {ese} good trade though nemo
[14:48] {nemo} out
[14:49] {nemo} sheesh
[14:51] {nemo} listening to commentary out of the futures pit...it's hand to hanc combat trying to keep this thing afloat
[14:53] {nemo} short small X .70
[14:53] {nemo} stop above .80
[14:53] {ese} ya know.......once again these fomc goofs have nothing positive to say about the country.......things have improved since the greedy meltdown.....people are working hard.....the countrys strong we can get through this ...etc etc etc......i rest my case with this Berdumb  dumb goof.   how about a little positive reinforcement for a change.....
[14:54] {Will49} tell us what you really think
[14:54] {ese} give people some hope........this ain't the end of the world
[14:54] {ese} although you can see it from nemo's place
[14:55] {dino} you have to understand ese, that the incombants' tactics are fear
[14:56] {ese} for sure eh
[14:56] {Threei}  also, this kind of thetorics is not FOMC department at all
[14:56] {Threei}  they deal (or at least should) in numbers
[14:56] {Threei}  not in touchy-feely phrases
[14:57] {Will49} have to keep the masses sedated
[14:57] {Threei}  the minute I see Fed chairman saying anything of this kind, I know last hope is lost
[14:57] {ese} lol.........good point
[14:58] {Threei}  that'd mean he lost last grip on reality and can only say feel-good things
[14:59] {Threei}  also, ese... why do you think ssying that things are good, or better, or anything like this, would make anything better? :)
[14:59] {Threei}  all you can get is irritate people more... they are not blind and know very well that things get worse
[14:59] {dino} ese, consider all the b.s. good talk out of the euro leaders.
[15:00] {Threei}  yep, they do just that
[15:00] {Threei}  look where it got them
[15:00] {dino} the world is in a very bad place at the moment, imo
[15:00] {dino} everybody has their finger on the sell button
[15:02] {Threei}  and some on a trigger
[15:04] {Threei} Short Setup: FCX  .60 break
[15:07] {ese} ya me included
[15:07] {Threei}  Invalidated
[15:08] {ese} ok then......on to something more important......stablizing the legs in the golf swing......on you tube
[15:18] {RonS}  NYSE to cancel certain trades in 6 symbols seen earlier in the day- Will cancel trades that were 30% above or below the opening price between the hours of 9:30 and 10:15ET - Following stocks: WZE, CO, UTG, EJ, ARC, KWK
[15:18] {Threei}  hopefully they cancel whole trade and not just one side of it, as NASDAQ often does
[15:22] {Threei}  I like FCX again
[15:22] {Threei}  .60 break
[15:22] {Threei}  thought of taking .70 actually... then fell asleep
[15:22] {Threei}  or faintred
[15:24] {ese} i'm in .62
[15:24] {dptl} long??
[15:25] {Threei}  not by me
[15:25] {ese} L
[15:25] {ese} out 1/2 .66
[15:26] {Threei} Short Setup: FCX  .70 break
[15:26] {Threei}  If holds  .75
[15:26] {ese} out full.74 +.12
[15:26] {Will49} ese ..you da man
[15:27] {ese} vads call on that one
[15:27] {ese} tks vad
[15:32] {nemo} I would think we go higher on the spy from here to stop hunt
[15:35] {Threei} Long Setup:  FAS  .55 break hl
[15:35] {Threei}  vhange to .50
[15:36] {Threei}  Invalidated
[15:41] {Threei} Long Setup:  FAS  .20 break hl
[15:42] {Threei}  .09 stop
[15:42] {Threei}  half out
[15:43] {Threei}  .14 stop
[15:44] {Threei}  scalpers win
[15:49] {nemo} l spxu .95
[15:49] {nemo} oh jeez
[15:50] {ese} fcx
[15:51] {Threei}  time's running out...
[15:51] {Threei}  maybe a quick scalp FCX on long side
[15:52] {Threei}  .55 stop
[15:52] {ese} yup.....cya tomorrow
[15:52] {dolores} ok guys see you tomorow
[15:52] {dolores} take care
[15:52] {dolores}  thxs VAD
[15:53] {Threei}  take care dolores
[15:53] {dino} ty all for ideas. calling it a good day. tee time in 30
[15:53] {Threei}  have fun dino
[15:54] {dino} will do, thx
[15:54] {Threei}  ok guys, thank you all
[15:55] {Will49} by
[15:55] {Threei}  have a good evening, see you tomorrow
[15:55] {scottie} gn everyone, thanks Vad