Nemo's Findings week of 9/23/2012

(Course on trading using Taoist principles is available: http://www.realitytrader.com/taoisttrader.html)

09/17/2012:  Had insomnia...timing couldn't have been better.  What a snoozer for the most part.  Reminded me of a Neil Young line when he was introducing a song on the CSNY 4-Way Street live album (a two record vinyl set....I'm old.)

"It sorta starts off real slow and then fizzles out altogether" 

Market kinda leaked downward for the day with financials finding the WPP, and then the market making a run north from there to make a VWAP run into the close.  Notice that SPY and FAS bottomed at tracked levels together, not IWM.  What does that say about risk in the market?  No specific opinion.  One day does not a trend make in OP EX week...canary in the coal mine...maybe?  For all intents and purposes the action of the last couple of days looks like a big ol' bull flag.

Headline risk now looks to have shifted from the Euro-orgy, to the Islamic Inferno and the Sino-Nippon conflict-that one could make for a real mess.

9/18/2012:  Housing numbers today, better than expected...what was market reaction...Simon and Garfunkel (Sounds of Silence) moment. 


 "Good" news, not being bought or sold.  OP EX week.   Not really much to expound upon today.

•  IWM closes on the Weekly Pivot.
• Financials ride the Quarterly R1 for most of the day
• SPY rides the weekly pivot for most of the day finishing in the top half of the range
• TLT finishes a few hairs above the Weekly Pivot

  

09/19/2012: Groundhog Day III...'nuff said.  No real buying in the market rumors/news not particularly of the concrete variety (haircuts in JCP's now).  Short covering on heavily shorted stocks.  Tight range with only the bonds making consistent progress retracing the Bernanke news.

The one REALLY interesting move so this week...oil.  With the news of endless printing in Japan Europe and the US, as well as Mideast tension,  oil drops almost 10% by Wednesday night....just shaking out the weak longs?  Or, is it a sign of things to come....shhhhhhh....recession....deflation...uuugh.  Bennie's beard should start turning gray.  Next big support on USO is between 33.50-33.80

The Quad Witching hour is upon us. I'm thinking, some more volatility.

09/20/2012:  Yeah, a bit more volatility today.  Not particularly good economic news starting with Chinese PMI last night.  Higher initial claims (which usually get revised further upward).  Philly Fed was better than expected though paultry.  So we gap down for a 1/2 hour, and then....

IWM  bottoms at the March 2012 swing-high line I left on the graph, which was also with in spitting distance of the daily S3.  If you remember from last weeks blog I said that these three lines would likely corral the weeks price action....SFSG. SPY also bottomed near the daily S3 which corresponded with a fib. retracement I'm tracking....ahhh the confluence of levels again.

From their it was onward and upward.  With SPY actually closing it's gap to finish higher by $.01USD, and IWM losing a bit of steam finishing in the middle of it's range. Soooooo....bad to middling economic news was bought.  We're going higher it seems.   BTW, look at TLT.  Last three days, just sell the open and forget it.

Mmmmhhhh....Dow up 8 of last 9...spy closes 146.74  146.62   146.70 146.71...frickin' Groundhog WEEK so far.

09/20/21: ....and, if you were to add back the $.7795/share dividend to the spy closing price, we're back at .....drum roll please................................$146.70ish!!!!! Yes it was a Groundhog Day week.

We also found out that the Obama Administration has mandated no surprises out of Europe until after his corona....I mean, election, although Greece later denied it.  I wonder if the bond market will stand for that?  

 

Anyway, the last "week that was"  chart:

 

Remember, SPY looks deceptively bad today...you want to know what its relative performance was, look at the IVV.  The  IWM closed within $.15 of the weekly pivot.  Financials were weaker this week, and bonds regained some ground.  Macro economic information domestically was mixed with housing looking as strong as it has since '09.   Also, don't forget, the SPY went through re-balancing today so volume indications are completely out of whack.

For those of you not familiar with him, Bill Cara (http://caracommunity.com/), with whom Vad is associated, does a complete, if not mind-numbingly extensive, "Week in Review" that is usually published on Sundays.  At introduction he gives a summation of the macro-economic data both good and bad from the most recent week as well as the preceding, with a forward look as to the week ahead. I can usually feel the vitrified brain matter leaking out of my ears if I try to understand the whole thing.

All in all a week of either, consolidation or distribution...I'm leaning on the side of consolidation with upside yet to go.

 

The week that is:

 

Looking at next week we can see IWM basically treading water having peaked out at the Yearly R1 on the 14th.  Could see that assaulted again this week.  Tight range this week, which like tight Bollinger bands, usually means expansion coming.

SPY same thing...look at either SPY or IWM on daily it looks like a bull flag

The Qs:  They hit the yearly R3 last week, that's impressive, how skewed is that because of apple? 

Anyway...my prediction for next week: 

http://www.youtube.com/watch?v=5akEgsZSfhg

 

And another thing...

Last week I mentioned how my prediction "accuracy" or the lack thereof, inserted bias into my thinking, and that price action is all that matters. So I'd thought I'd expound a bit on bias, and where it comes from. 

Of course we'll use my Taoist background from which I basically parrot everything I've been taught.  There's nothing particularly original or organic that comes out of my mouth unless I consumed too large a quantity of adult beverage.

 Anyway, the last verse (81) of the Tao Te Ching first two lines are as follows:

True words are not fine-sounding;
   Fine-sounding words are not true.

Why do we like or dislike what we read or hear?  Simply, because it brings us pleasure or pain.  If you're left-wing politically, right-wing ideology is not fine sounding, and vice versa.  If you are a sports fan of team A, and team B, beats the bejeesus out of them, it won't be fine sounding to you.

Throughout our lives and starting from the time we are born, we develop a series of internal, psychological programs as a result of the messages from the social structures in which we live, that form the basis of our beliefs. Through these programs we process the data we absorb through our senses. As passionate beings with the potential for rationality, we become emotionally invested in those beliefs.  

Now, based on our experiences and our personal disposition in conjunction with these programs we've formed,  we perceive certain things more easily, or we more easily attach ourselves to a given piece of information (I don't know what happened to the font -don't ask) because to us, it is fine sounding.  So, our subjective interpretations are our reality. That subjective interpretation is our bias.  So, we share a kinship with people who see information the way we do. (Think "Men are from Mars, Women are from Venus" -frankly I often question if we are the same species, but I digress).

What happens?  Well, in trading we form a thesis based on news and information we read that sounds "fine," to us and unfortunately that thesis, because we are emotional beings, slips its little tendrils around our psyche, and latches on.  A + B+C has to be bearish!!!  WTF!!!!  why is this stock still going up?  Really....so, basically we're reduced to having an argument with the screen, as our trading account continues to bleed.

Everything you read is merely opinion interpreting data, which itself, may be inaccurate or incomplete, and as the old saying goes, opinions are like a certain part of the human anatomy, everyone has one, and they all are offensive to the olfactory senses.

 So where does that leave you...to which Lao Tzu answers:

the wise one does not know many things;
   He who knows many things is not wise.

 

We don't "know" what is going to happen in the market based on a given piece, or pieces of information...That information is in the form of words, and as we know, words mean diddly squat. We create "knowledge" out of our biased mental models as we interpret that information. Remember those words you read are just the distilled thoughts of someone else's mental models based on the way their bias interprets their "data" sources. 

What are the resulting actions and reactions that take place from those words are what is important-NOT our opinion of what should take place because of what we think we know. 

Is what we perceive as "bad" or "good" information being bought or sold?  That's all that counts.

Go back to the Oracle at Delphi and Socrates.  True knowledge is knowing that you don't know. So the key is to, as stated further in verse 81:

The Sage does not accumulate (for himself)

 

To accumulate, means to take possession of.  I accumulate money, food, clothes, etc.  Well, I also accumulate thoughts and ideas.  The problem with accumulating, is we often become emotionally attached to what we accumulate (remember those tendrils). It colors our perceptions, takes us away from reality.  In trading, not seeing clearly what is happening on the screen is not good.

So the key is detachment through discipline. Do not predict, or if you do, accept quickly when your predictions don't come true.  Do not let your desire (desires are the source of suffering according to The 4 Holy Truths ;-)) to be proved right, interfere with doing the right thing.  When A happens see if B or C or D follows, and act accordingly.  Do not hope...hope is an emotion that has nothing to do with reality. Strict entry and strict exit parameters.  As Vad often says  IF "A"  then do "B."  You never hear him say IF "A" maybe do "B."

I should perhaps explain, because those who read this who are in the room always see me talk about my stop as being X "ish".  It sound as if I'm being squeamish or undisciplined about my stops.  That is not really the case.  I've been watching LIIs for a while now, so I have a little bit of experience.  As algorithms have gotten better, they know better how and where traders place stops.  It's not like I'm unique in regards to how I place stops.  So, as price action approaches my stop I watch to see how it behaves in that area to discern whether an algo, or another trader, is just trying to shake me out of my position before it heads off to the promised land.  It is not something I would recommend to those starting out, nor is it something to which every trading style should aspire. It's an explanation for clarification.

BTW...if you don't think a trader or trader(s) can shake you out of the position, I sat in a trading room when the head trader called out, "SHLD is weak.  Gentlemen, short at will."  Well, 15 guys started whacking bids.  $3 lower, I got out.

Well that's enough.  I'll leave you with one last quote(for another time) from a Taoist sage named Chuang Tzu:

 

Those who dream of the banquet awake to lamentation and sorrow, 

Those who dream of lamentation and sorrow, awake to join the hunt.

Market Week Wrap-Up

Risk-On Rally Pauses as Officials Discuss QE Fallout


 Markets largely moved sideways this week, consolidating last week's big risk-on rally. Analysts, Fed officials, politicians and market participants around the globe mulled the implications of massive central bank intervention, including when and if inflation would strike. Meanwhile, both the DJIA and the S&P500 are hovering around five-year highs after months of expansion. The Bank of Japan joined the party on Wednesday, expanding the size of its standing asset purchase program by ¥10 trillion (roughly $130B) and warned that Japan's economy has moved "deeper into deceleration." In Europe, a squabble between the Spanish government and the government of independent region Catalonia over tax and austerity issues threatened to postpone further a potential official request for an EU bailout. Spanish officials continue do deny that they were even mulling a request, while German Finance Minister Schaeuble said that Spain doesn't need a bailout anyway. In Greece, talks between Athens and the Troika dragged on, with both sides roughly €2.5B apart on the proper amount of austerity in the next round of cuts. Peripheral yields remained mostly lower, however, and both Span and Portugal took advantage of the new atmosphere to sell longer-term debt at lower yields. The euro came off its post-ECB bond-buying announcement sugar high this week, with EUR/USD dropping from highs around 1.3170 to bottom out right around 1.2920. The China September flash manufacturing PMI, which was more or less even with the August reading, was either a positive sign of bottoming or a concerning lack of improvement, depending on the analyst. Note that on Friday, a PBoC advisor warned that China's Q3 and Q4 GDP would come in a little below the official 7.5% target and that the slowdown might last into 2013. In a similar vein, Brazil and Italy both took down official GDP forecasts for 2012. There were several more positive US housing data points, with existing home sales and building permits exceeding estimates, and the NAHB's September market index bounced to its highest level since June 2006, capping five months of improvement. For the week, the DJIA and Nasdaq each slipped 0.1%, and the S&P500 fell 0.4%.

- An intense debate among Fed officials took place in the press this week. No fewer than ten Fed board members and governors spoke out in defense of or against QE3. In the hawk camp, Bullard, Lacker, Plosser and Fisher all aired their objections to the new program, emphasizing that the costs of the program greatly outweigh the potential benefits. Inflation threats were at the heart of their critique, with both Lacker (the lone FOMC dissenting voter) and Fisher emphasizing that the program will drive a steep increase in inflation expectations. Bullard warned it would be dangerous to link the program's lifespan only to the unemployment rate, which he points out has been very fickle. Among the moderates at the Fed, Kocherlakota, whose rhetoric has tended to the hawkish side, said he would have voted in favor of QE3. Lockhart said that Job growth of 150K or more could constitute Bernanke's 'signs of improvement.' The doves mainly echoed Bernanke's rationales for QE3, offering little new color. Evans warned that timid policy moves would only prolong economic problems and insisted that fears of Fed-fueled inflation have been consistently wrong, while Dudley highlighted that moving the rate pledge to 2015 was a signal of the Fed's commitment. Nothing in public was heard from Bernanke, who briefed members of the Senate Finance Committee in a closed door meeting on Wednesday afternoon. Coming out of the meeting Senators said the Chairman warned that Congress needs to start acting to fix the nations fiscal mess, and that there are limits to what the Fed can do alone.

- This week's breakdown in crude futures has confounded markets and seemed to run counter to both consensus thinking and moves in other risk assets, which have already greatly benefitted from QE3. Last Friday, WTI futures had spiked above $100 briefly in a QE3-fueled rally. Then on Monday, Brent and WTI futures fell by $4 in a matter of minutes, evoking memories of the 'Flash Crash' and sparking chatter of fat finger trades or a big move by an unnamed hedge fund. Crude fell another $4 on Wednesday, in part due to weekly DOE data showing an unusually large build in US crude stocks as production restarted in the Gulf of Mexico after the closures caused by Hurricane Isaac. Traders also pointed to a press report on Tuesday that said Saudi Arabia was looking to pump more oil to hold down prices, although the catalysts for the move still remain somewhat opaque.

- In earnings news, Oracle saw some softness in sales in Q1, with the total declining y/y and missing analysts' expectations. The firm's revenue outlook for Q2 was also a bit soft, given FX headwinds , and more notably warned that its hardware revenue could fall as much as 18% y/y as it continues its push into cloud computing.

- Two major transport firms this week indicated that the global malaise is having real consequences. After cutting Q1 guidance earlier this month, Fedex reported on Tuesday. The global shipping firm slashed its FY13 outlook only three months after first offering the forecast back in June, and guided Q2 well below analyst consensus. The CFO warned that weak global economic conditions were driving customers away from express services. Railroad operator Norfolk Southern tanked after the firm warned that earnings would be well below consensus estimates due to coal shipment volume declines and lower revenue from fuel surcharges.

- iPhone 5 mania went into full swing as the Apple faithful lined up at retailers on Friday to upgrade to the latest handset. Apple shares hit fresh all time highs above $700, as analysts raised their price targets in anticipation of 8M or more unit sales this weekend. Meanwhile, the architect of the Apple Store concept, Ron Johnson, may have been looking wistfully at those lines of customers. Now CEO of JC Penney, Johnson tried to deflect attention away from the major sales losses incurred in the company's turnaround as he took analysts on the first big tour of JCP's concept store redesign.




TradeTheNews

Sep 21 2012

Very slow day with no action. Got a very nice LLY long for 1:4 and closing LVS short, with a few small (5-6 cents) stops inbetween, which made fir a slightly positive but very boring day. Time to write an article about boredom in trading...

Session Time: Fri Sep 21 00:00:00 2012

[08:36] {nemo} btw...spy is significantly higher than it looks, it's trading ex-dividend today

[08:39] {nemo} so it would be at 147.18 right now

[08:59] {goryl} gm

01[08:59] {Threei}  goryl :)

[09:07] {scottie} good morning

01[09:07] {Threei}  scottie :)

[09:08] {jackharry} good morning

01[09:08] {Threei}  jack :)

[09:11] {dino} gm

01[09:17] {Threei}  dino :)

[09:18] {ese} gm

[09:18] {cipher} gm

01[09:18] {Threei}  ese, cipher :)

[09:19] {Beau} good morning

01[09:19] {Threei}  beau :)

[09:21] {Will49} Good morning

01[09:22] {Threei}  will :)

[09:23] {Will49} Where is everybody?

[09:23] {ese} right here

01[09:23] {Threei}  ?

[09:24] {Will49} Good, three Canucks

[09:24] {ese} should i send an ambulance over will...........tell me your alright there buddy

[09:24] {ese} were here for ya

[09:24] {Will49} I'm good:)

[09:24] {ese} lol

01[09:25] {Threei}  are you on mirc, will?

[09:25] {ese} ok that worked well Vad..........first pick on of the day.........next

01[09:25] {Threei}  lol

[09:25] {Will49} No, 

[09:26] {Will49} Will try to get on this weekend

[09:28] {dolores} GM

[09:28] {dolores} Caterpillar reports August 3-month rolling global retails sales of machines up 13%, compared to July 3-mo. rolling up 14% and June 3-mo. rolling up 11%. Reports August 3-mo. rolling up 27% in Asia/Pacific, flat for EAME, down 5% for Latin America, up 24% for North America and up 7% for rest-of-world 

01[09:28] {Threei}  dolores :)

[09:30] {ese} thats bellwether    if i've ever seen........constructions gegats profits on this board

[09:30] {ese} begats

01[09:31] {Threei} Long Setup:  FCX  .60 break hl

01[09:31] {Threei}  If holds  .50 

01[09:32] {Threei}  target 1:2

[09:33] {dino} swks overnight to .99

[09:34] {ese} nice.....i should of held on to that small qcor position overnight

[09:34] {dino} out .04, +1,04

[09:34] {dino} 1.04

01[09:34] {Threei}  wtg

[09:35] {ese} awesome dino.........

01[09:36] {Threei}  SLW .10 - .20 two-sided

01[09:36] {Threei}  tighten FCX to .54

[09:38] {dino} ty

01[09:39] {Threei}  SLW decided

[09:40] {dolores} what  is the trade on SLW?

01[09:40] {Threei}  long .20 break

[09:40] {dolores} ok

01[09:41] {Threei}  out FCX

01[09:41] {Threei}  good tightening

[09:42] {dino} giving open gaps back

01[09:42] {Threei}  let's tighten SLW to .14

01[09:43] {Threei}  strangely narrow market for such early time

[09:44] {ese} L cat .75

[09:45] {ese} sm

01[09:45] {Threei} Short Setup: NSC  .70 break hl

01[09:45] {Threei}  If holds  .80 

[09:46] {ese} stop .43

01[09:46] {Threei} Long Setup:  LLY  .30 break

01[09:47] {Threei}  If holds  .20 

01[09:48] {Threei}  Invalidated  NSC 

01[09:49] {Threei} Long Setup:  DIS  53 break

01[09:49] {Threei}  If holds  .90 

[09:51] {dino} asml sm l .01

01[09:51] {Threei}  wow... don't remember such slow and narrow opening in a good while

[09:52] {scottie} any target on lly?

01[09:52] {Threei}  with any market help, LLY can climb to 48

01[09:54] {Threei}  DIS is not a scalp either

[09:54] {dino} ctb

[09:55] {ese} nope     cat stopped .34 -.31....take my 120.00 dollar lick and get on with it

[09:55] {nemo} fcx

[09:55] {dino} great attitude ese :)

[09:55] {ese} sorry thats .44 not .34

[09:56] {dolores} NSC stopped

[09:56] {nemo} today is clear as mud

01[09:56] {Threei}  NSC was invalidated, dolores

[09:56] {dolores} pity rinsed

[09:56] {dolores} ok I did not see it

01[09:57] {Threei}  it went over .80

[09:57] {ese} thought sure it was going to take that release and run with it........should know better than to go against those dow market makers

01[09:57] {Threei}  9:49

01[09:57] {Threei}  ok LLY

[09:58] {dolores} I saw .80

01[09:58] {Threei}  ket's start making money

01[09:58] {Threei}  look at 9:49 bar at the chart

01[09:58] {Threei}  andf I alerted invalidation in the room

[09:59] {nemo} yep Triple OX clear as mud

[09:59] {dino} moooo

01[10:00] {Threei}  is it speak in tongues day? I don't understand half of what people are saying today :)

[10:01] {Will49} ia the moon full?

[10:01] {Will49} is

01[10:01] {Threei}  DIS stop to .94

[10:03] {ese} don't know will but i'm gonna need it later to howl at it

01[10:04] {Threei}  will have to wait... very thin creschent

[10:04] {dino} bth filling multi gaps

[10:04] {dptl} gm

01[10:04] {Threei}  LLY 1:1

01[10:04] {Threei}  dp :)

[10:05] {ese} no better reason for stops than watching CAT right now

[10:06] {dino} ctb sm l .01

01[10:06] {Threei}  out DIS

01[10:06] {Threei}  so, up to this point this strange opening was dp's fault

01[10:07] {Threei}  but now when he is here...?

01[10:07] {Threei}  oh wait, Ron and tbell are not in

[10:07] {dptl} :)

01[10:07] {Threei}  we have a choice of who to blame

[10:08] {dptl} beleive it or not iam in San Diego right now

01[10:08] {Threei}  well, what not to believe... planes are fkying...

[10:08] {Will49} everybody's gotta be someplace

[10:09] {ese} WHAT! are ya doin down there?

[10:09] {ese} swimming with dolphins?

[10:09] {dptl} so hot in here    visiting my dougther

01[10:09] {Threei}  he started making his way to Antractica

01[10:09] {Threei}  always wanted to adopt a penguin

[10:09] {ese} have a great time dp

[10:09] {ese} lol

[10:10] {dptl} lol

01[10:10] {Threei}  how hot dp?

01[10:11] {Threei} Long Setup:  CAT  92 break hl

[10:11] {dptl} well gets to over 30 in a daytime

01[10:11] {Threei}  stop under .90

01[10:12] {Threei}  target 1:3

[10:13] {dino} ctb stuck, stop to .99

01[10:14] {Threei}  General Motors recalls 426,240 cars in US to fix condition that could lead to the cars rolling when drivers think they're in park

01[10:14] {Threei}  isn't it the same conditions congress suffers from?

[10:14] {dino} asml same thing

01[10:15] {Threei}  no go CAT

[10:15] {dino} lol

01[10:15] {Threei}  definitely ron's fault

[10:15] {dino} what do you expect from govt motors

[10:16] {dolores} well stopped CAT

01[10:16] {Threei}  LLY is the only light in the window

01[10:17] {Threei}  Exchange of fire along the Israel-Egypt border kills 2 militants

01[10:17] {Threei}  good job on foreign policy

01[10:17] {Threei}  turn decades-long ally into enemy

[10:20] {dino} out ctb +.25

[10:20] {scottie} pfe l .65 if hold .60 ?

01[10:21] {Threei}  I think so scottie... things are incredibly slow,

01[10:21] {Threei}  hard to get read

[10:21] {nemo} yeah, my only trade was an oops

[10:22] {nemo} look down I have 1200 shares of COH long....mmmmmhhhh...how'd that happen

[10:22] {nemo} bohica moment

[10:22] {dino} hate hen that happens

[10:22] {nemo} yeah, had to get out the hemmrhoid pillow

[10:23] {Will49} ouch

[10:23] {nemo} I came in one monday, and didn't realize I hadn't closed out a trade on Friday...that was spiritual

[10:23] {nemo} fslr

[10:23] {nemo} sorry

[10:24] {dolores} JCP washed again

[10:24] {nemo} rinsed

[10:24] {dolores} where is the bottom?

[10:24] {nemo} I would sapy 25.30 area

[10:24] {dolores} thxs

[10:25] {nemo} JCP might go out of business...btw

[10:26] {scottie} in pfe ave .655

[10:27] {dolores} what'sbtw?

[10:27] {dino} washed, lol dolores

[10:27] {dino} by the way

[10:28] {nemo} English idiom

[10:28] {nemo} not to be confused with English idiot...that was Les, actually Australian, but they were all English convicts anyway

[10:29] {dptl} really slow today...just friday or what?

[10:29] {dino} bbby sm l .10 trig

[10:29] {nemo} DP go back to the vodka

[10:30] {nemo} sheesh

[10:30] {nemo} Triple witching OP EX with spy going ex-dividend!!! WTF

[10:30] {dptl} lol  to hot for that in here.....mohito may be

[10:30] {nemo} I'm gonna' start calling you Les Jr.

[10:31] {dptl} oh no :)

[10:31] {nemo} if the foo shits, so to say

[10:32] {dino} damn dp, you're making me thirsty

01[10:33] {Threei}  just wait till he gets his pwenguin and starts discussing treats he feeds it

[10:33] {dptl} lol..

[10:35] {dino} asml to .25

[10:37] {Will49} scottie...I thought PFE stood for pretty effin easy  NOT

[10:37] {dino} out asml .27, +.26

[10:38] {scottie} lol will

01[10:38] {Threei}  so far, not much today is

[10:38] {scottie} had to go for a few minutes, put a hard stop and stopped at .59

01[10:39] {Threei}  whole week was like sliding on oil, smooth and easy

01[10:39] {Threei}  not today

[10:45] {dino} cx bbby order

[10:46] {scottie} orcl s .50 if hols .60 ?

[10:47] {nemo} no

01[10:47] {Threei}  National Daily Tracking: #Obama: 46%, #Romney: 45%

[10:47] {nemo} pivot at .45 and vwam at .94, expect a bounce here

[10:47] {scottie} tks nemo

[10:48] {dino} ctrx spike

[10:50] {nemo} orcl l break of .56

[10:51] {dino} 07 red

01[10:52] {Threei}  (DE) Germany Fin Min Schaeuble: Germany has more to lose from an EMU failure; it is dangerous to provide �100B to Spain if it does not use it all for banks exclusively- Spain does not need an aid program from the ESM

01[10:53] {Threei}  wow

01[10:53] {Threei}  read this:

01[10:53] {Threei}  (GR) EU-IMF review of the Greece debt situation reportedly will be delayed until after the US election in early November - financial press citing unnamed Europe officials- Reports indicate that US officials have requested German and European officials release no 'new surprises' before the election.

[10:53] {dino} mlnx spike

01[10:53] {Threei}  wtf??

[10:54] {dolores} wow they are amazing

[10:54] {dolores} they want to hold things to be elected

[10:54] {ese} am outta here...........have a great weekend everyone.......catch you on the flip side

[10:54] {Will49} EU gauys love Obummer

[10:54] {dino} talk about corruption

01[10:55] {Threei}  take care ese

01[10:55] {Threei}  unbelievable

[10:55] {dino} who was t that said govt don't interfere w/markets. there you have it again

[10:55] {nemo} the new SEALS rules of engagement on enemy raids...they used to go in and kill them if they touched a weapon

[10:55] {nemo} NOW they have to surround the camp, announce with a bull horn who they are, and arrest them

[10:55] {nemo} They all get released within a month

[10:56] {Will49} the emasculation of the great warrior nation

[10:56] {robbers} And they renamed them "the goldfish."

[10:56] {dino} they are turning us into a bunch of touchy feely wimps

[10:56] {nemo} BHI

[10:56] {nemo} that's Holder's influence

[10:56] {nemo} it's law enforcement, not war

[10:57] {dino} they just don't get it

[10:57] {cipher} +.67 MLNX short thx dino

[10:58] {dino} gj

01[10:59] {Threei}  (GR) Northern Athens municipality of Acharnes suspends all but basic services after running out of cash - Ekathimerini (Greek press)- The municipality is unable to pay employees and regular expenses. - Local authority: Acharnes Municipality will remain closed indefinitely, until the financial problem can be resolved. - Mayor to meet with the Interior Ministry today to discuss problems, wants them to reduce rate on loan from 11.5% to 5.5%.

[10:59] {Will49} reality starting to bite

[10:59] {nemo} see the bounce on orcl, didn't have the R/R you thought

[11:00] {Will49} still a long at .55?

[11:00] {scottie} I see

01[11:01] {Threei}  this is US future

[11:03] {dolores} JCP bouning

[11:03] {dolores} bouncing

[11:03] {robbers} Vad, do you think the drop in oil is part of the same political manipulation that you posted earlier?

01[11:03] {Threei}  LLY 1:2

[11:03] {dino} i fear so 3i, especially w/re-election of obamination

[11:03] {dolores} after stoping me at .61

[11:03] {dino} robbers oil drop because of europe and china slow down imo

[11:04] {robbers} Contributing factors no doubt, but it was so sudden and dramatic.

[11:04] {dino} deck sm l .00

01[11:04] {Threei}  oil is a very complicated trading vehicle, a lot of factors influence it

01[11:04] {Threei}  look at it this way:

[11:04] {nemo} and it's not that big a market either

01[11:05] {Threei}  1. what business does it have to be trading around 100 with economy this weak all over the world?

01[11:05] {Threei}  2. how is it influenced by inflation expectations?

01[11:06] {Threei}  3. it's a partial-monopoly market thanks to OPEC

[11:06] {nemo} esrx l .10 break

[11:06] {nemo} in .12

[11:06] {dino} #1 war fears #2 endless printing, #3 war fears again w/iran/isreal

01[11:06] {Threei}  4. Day-to-day gyrations may be caused by purely political considerations, like threat to use SPR

[11:06] {scottie} dino you think orcl is now a double bottom ?

01[11:06] {Threei}  5. Mid-east tensions

[11:07] {nemo} stop .03ish maybe .00ish

01[11:07] {Threei}  enough to make your head spin? :)

[11:07] {dino} dk scottie, not my edge

01[11:08] {Threei}  hell, speculation on Israel strike on Iran alone would be enough to cause unpredictable moves

01[11:08] {Threei}  LLY game plan from here:

01[11:08] {Threei}  not taking last 1/4 out on 1:3, will try to trail and wait for 1:5

[11:10] {nemo} cat .55 level

[11:10] {nemo} coh

01[11:20] {Threei}  LLY over 1:3

01[11:20] {Threei}  15 cents more and I'll be happy camper

[11:20] {Will49} tear rolls down my cheek

06[11:21] * Threei passes Will a napkin

01[11:21] {Threei}  or you prefer a tissue?

[11:22] {Will49} :)

[11:23] {dino} bbby sm l .15 break

[11:26] {Will49} it's a crap, shoot out there today

01[11:26] {Threei}  who wants to see nemo being knocked out in just one line, uncosnscious for about 1h?

01[11:27] {Threei}  LLY 1:4

01[11:27] {Threei}  10 cents more please

[11:27] {dino} deck stop -.31

[11:27] {dolores} DECK breaking lows

01[11:28] {Threei}  here comes, quote rendering nemo blcked out:

01[11:28] {Threei}  There is love enough in this world for everybody, if people will just look.

[11:28] {scottie} lol

[11:29] {nemo} Where's my AK!

01[11:29] {Threei}  there he goes :)

01[11:29] {Threei}  USO sharp drop

01[11:29] {Threei}  LLY stop at .59

01[11:30] {Threei}  (CY) Cyprus Communist AKEL Party Chief Christofias: Cyprus should consider withdrawing from the euro zone if bailout terms are too much - Cyprus press- "Im not prejudging what we should do, but I am saying that these questions have to be discussed very seriously if we really want to serve the interests of the Cypriot people." ***Note that the AKEL Party leads the government of Cyprus

[11:31] {dino} deck last try sm l .74

[11:32] {robbers} They can drop out of the Euro Zone and follow Greece into the Twilight Zone.

[11:33] {scottie} swks db ?

[11:34] {dino} was just looking at that, but i'd say no on db

[11:34] {dino} gap fill issues imo

[11:34] {scottie} tks dino

[11:35] {dino} i may be wrong scottie

[11:35] {scottie} better not be :)

[11:35] {dino} as they say, "you never know until you bet" - jesse livermoore

[11:35] {dino} tight markets

[11:36] {Will49} but you should have some idea about probabilities, no?

[11:36] {dino} indded will, that is the edge

[11:36] {dino} meli drop

[11:37] {Will49} so, there is a DB there based on BBs, but you think the gap negates it?

[11:37] {Will49} just askin"

[11:37] {dolores} was that 25.60 bottomon JCP?

[11:38] {dino} for me, i don't see the db because of the gap. but thats just me. my gut says good probability of entering gap area

[11:38] {Will49} tks dino

[11:38] {dolores} CLF at lows any trade here?

[11:39] {dino} np. "trading in the zone" - anything can happen at any time in markets

[11:39] {Will49} good book

[11:40] {dino} this market is stuck today

[11:40] {robbers} Very good book.

[11:41] {dptl} yeah...i think mojito it is :)

[11:42] {Will49} is it triple witching, or waiting for news?

[11:43] {Will49} the market that is, not DP's mohito

[11:43] {Will49} mojito

01[11:44] {Threei}  it's a quadruple actually

01[11:44] {Threei}  (GR) Greece Fin Min rebuts earlier reports that the Troika report will be delayed until after the US election- Follow up: EU's Mors also denies the earlier report that Troika could delay its Greece report. Greece notes it has made progress on talks with the Troika, Troika officials to return in one week **Reminder: Earlier reports circulated that the Troika review of the Greece debt situation reportedly will be delayed until after the US election in early November at the behest of US officials

[11:45] {Will49} deny, confirm, deny, confirm...yap yap yap

[11:46] {Will49} can't believe a thing you hear or read today

[11:46] {Will49} except for our room of course

[11:47] {dino} ctb sm l .01

[11:48] {dolores} CLF nice bounce

[11:48] {dino} out ctb .20, +.19

[11:48] {Will49} pretty good in this market dino. eh?

[11:50] {dino} slow day, taking small gains

[11:51] {nemo} oh wow, I got a partial on esrx while I was gone

[11:56] {dolores} SPY red

[11:56] {nemo} not really

[11:56] {nemo} it'a actually up .40

[11:56] {nemo} look at IVV

[11:58] {nemo} whaddya' think dolores?

[11:59] {dolores} about?

[11:59] {nemo} difference between IVV and SPY?

[12:00] {dolores} as politics say when thye don't know "no comment"

[12:01] {dino} can't take 'em down, so up we go

[12:03] {nemo} SPY is trading ex-dividend, so they basically subtracted .78 from the price.  SPY is an etf.  IVV tracks the futures, which don't pay dividends, and are more representative of the actually spy levels.  You want to know where spy is actually trading, add .78 

01[12:03] {Threei}  Solo drivers are clogging Greater Victoria roadways, says a study

01[12:03] {Threei}  hmmm

01[12:03] {Threei}  dcrivers clog the road is like water clogs the pipe

01[12:03] {Threei}  road is for drivers, they use it

[12:03] {dolores} thank you

[12:04] {nemo} Also, we'll see a torrent of volume into the close with the spy rebalancing tonight

[12:05] {dino} bbby to .17

[12:06] {dino} to .37 i mean

[12:06] {dino} out +.22

[12:06] {dino} swks lod

01[12:07] {Threei}  The economy remains by far the top issue on voters� minds as the November elections near. Health care and government corruption are a distant second on a list of 10 top issues

[12:07] {dolores} was watching that dino any tarde?

[12:07] {dolores} tarde?

[12:07] {dolores} trade

01[12:07] {Threei}  80% of Likely U.S. Voters rate the economy as Very Important to how they will vote in the next election.

01[12:08] {Threei}  if that's true, I don't understand why Obama is not polling at 20%

[12:08] {scottie} oc .95 long for 36 break ?

01[12:09] {Threei}  O'd rather go for .90 break short

01[12:09] {Threei}  I

[12:09] {scottie} ok

[12:10] {jackharry} +.39 on BBBY, thanks dino

01[12:10] {Threei}  good one guys

[12:13] {dino} gj jack

[12:13] {nemo} yeah, well the right question would be who you think is better for the economy

[12:13] {dino} dolores dk swks, gut says around 24 go long

[12:15] {dino} bth drop

[12:16] {dolores} in at .65 dino

[12:16] {dolores} SWKS

[12:16] {dolores} stop at entry

[12:16] {dolores} partial out

[12:16] {dino} gj

[12:16] {dino} trail it tight imo

[12:17] {scottie} trail stop to .64 lly ?

[12:18] {dolores} ok

01[12:18] {Threei}  I think so

[12:18] {dino} 07 red

[12:22] {nemo} dltr

01[12:29] {Threei}  good spike SWKS

01[12:29] {Threei}  don't oversit it, dolores

[12:30] {dino} ctb sm l .75, stop .69

01[12:30] {Threei}  it's a fickle stock

[12:30] {dino} wtg dolores

[12:31] {dolores} stopped already

[12:31] {dolores} well....

[12:32] {dino} ctb stop -.06

[12:33] {dino} rinsed

[12:33] {dino} reload

[12:38] {dino} mgam spike

01[12:39] {Threei}  (US) Fed's Lockhart: More easing could be needed if employment stalls, data through month of August suggested economy was slowing- Fed will continue to purchase bonds in new program until employment picture improves - Notes that he was pursuaded that slow jobs growth issues could be helped by monetary policy

01[12:39] {Threei}  he was eh

01[12:40] {Threei}  beating will continue until morale improves

[12:40] {dptl} cnx .35 long?

01[12:41] {Threei}  for a scalp, could be

[12:47] {nemo} wow, got another partial on esrx

[12:49] {nemo} eh, look for the last around .57

[12:51] {nemo} rax sneaky

[12:53] {nemo} shld

[12:57] {nemo} wdc wtf

01[13:01] {Threei}  which of those is a stock symbol?

[13:01] {dino} wdc sm s .09

[13:09] {dptl} fslr .05 short?

01[13:09] {Threei}  .05?

[13:10] {dptl} .30 sorry

01[13:10] {Threei}  I'd rather go for .35

[13:11] {dptl} ye .35 lol to much mojito i think

[13:12] {dptl} .35 if stays under .45

[13:12] {scottie} deck s .45 if holds .55 ?

01[13:12] {Threei}  DECK, yeah, looks preomising

[13:13] {Will49} Cheers, guys...off to baby sit two grandsons for a week. Good trading!

01[13:14] {Threei}  take care will, have fun

[13:14] {scottie} will

[13:14] {Will49} tks

[13:14] {dptl} cheers will

01[13:15] {Threei}  will timed it perfectly

01[13:15] {Threei}  return just in time fir fun with presidential debates

[13:16] {nemo} iwm a .30 range

[13:16] {nemo} wdc

[13:16] {nemo} sorry

01[13:16] {Threei}  from everything I've seen so far, it's going to be painful to watch

[13:16] {nemo} like watching vad around bacon

01[13:17] {Threei}  that's pure pleasure

01[13:17] {Threei}  well, unless you are bacon I guess

[13:17] {nemo} not watching

[13:19] {dino} wdc stop -.18

01[13:19] {Threei}  if I were in Romney shoes, I'd make my main motive before the debates along the lines: I am not a very smooth speaker, but you've got one in WH right now. If you want a speaker, vote for him. If you want a doer, vote for me

01[13:19] {Threei}  'cause I suspect it's going to be a train wreck

[13:20] {nemo} funny, breakouts are working today, just very slowly

[13:20] {dino} i don't know, i think they are underestimating team r & r

01[13:20] {Threei}  I hope you are right...

[13:21] {nemo} nope...think collapse of communism, this thing will keep ossifying for a long time

[13:25] {nemo} we're about do for a little rally

[13:25] {scottie} out lly +.33 ty Vad

01[13:26] {Threei}  yw

[13:29] {dino} gj

[13:30] {scottie} once again, learning patience, one step at a time

[13:31] {nemo} 'look .44 wdc

[13:31] {nemo} disappeared

[13:31] {nemo} was huge bid

[13:31] {nemo} just flashed at .46

[13:32] {nemo} that order hasn't showed up again

[13:32] {nemo} might be a short now

[13:33] {scottie} asna s .75 if holds .80 ?

[13:33] {nemo} short wdc .40

[13:33] {nemo} stop .50

[13:36] {dptl} coh .50short? or .60 long?

[13:36] {nemo} l tna .30 break

[13:36] {nemo} oh oh, see that frickin bid show up on WDC again, trhuing to float it

[13:36] {nemo} the re it is

[13:37] {nemo} the wuss doesn't want it to get hit fake strength

[13:37] {nemo} so he must be trying to unload up here

[13:38] {nemo} imo

[13:38] {nemo} stop .20 ish on tna

[13:40] {nemo} this drops .40 probably goes

[13:40] {nemo} offering .41 tna

[13:40] {dolores} nemo I was out WDC triggered?

[13:40] {nemo} I'm short .40

[13:41] {nemo} well, I'm actually 51 and short, but we're talking about the stock

[13:42] {nemo} tightening stop on tna, .25ish

[13:42] {nemo} I'm hedged...how do you like that

[13:43] {nemo} proverbial "hair" on tna

[13:44] {nemo} oh oh frickin rebid

[13:45] {scottie} cbs 38 short ?

[13:45] {nemo} jesus, can't get that last penny on tna

[13:47] {nemo} wdc looks like a drunk ready to fall over

01[13:47] {Threei}  can't tell scottie

[13:47] {dptl} esrx .40long?

[13:47] {nemo} mmmhhhh....hits a little close to home

[13:47] {scottie} in .98

[13:48] {scottie} small

[13:49] {nemo} bidding .30 wdc

[13:49] {nemo} screwed myself on tna

[13:49] {scottie} have any target on wdc nemo

[13:50] {nemo} .00

[13:50] {scottie} tks

[13:50] {nemo} scratch tna

[13:50] {dptl} Vad esrx what do you think? .40 long?

[13:51] {nemo} yes

[13:51] {nemo} pheww

01[13:51] {Threei}  I don't know dp...

01[13:51] {Threei}  not being politician, I can say that :)

[13:51] {nemo} likely top is .57 area

[13:52] {dptl} :)

[13:52] {nemo} shouldn't you be drunk dp?

01[13:52] {Threei}  he is

[13:52] {dptl} lol

[13:52] {nemo} silly me

01[13:52] {Threei}  what's your point?

[13:52] {nemo} oh jeez tna

[13:53] {nemo} stop above .40 for wdc

[13:53] {nemo} nemo you frickin' moron!

01[13:58] {Threei}  Mitt Romney's 2011 tax return will be made available to the public at 3pm today

[14:02] {Beau} wouldn't it be more honest to release several years before he started running?

[14:02] {nemo} stop wdc above .35

01[14:03] {Threei}  I don't know... what is the requirement?

[14:04] {Beau} none-just fairness for true picture of a man.

01[14:04] {Threei}  then what is the historical standard?

[14:05] {Beau} don'tknow. think both bush's went back several yrs.

[14:07] {scottie} cbs stopped -.08

[14:09] {Beau} http://www.taxhistory.org/www/website.nsf/web/presidentialtaxreturns

[14:11] {Beau} Obama back to 2000, Bush 2000, Clinton 1912 ReaGAN 6 Yrs. bback.

[14:12] {Beau} Clinton to 1992 only seemed like 1912

[14:15] {Beau} vad, what did we do before google?  Library?

[14:15] {nemo} you had telegraph and smoke signals I think?

01[14:16] {Threei}  hmmm

[14:16] {Beau} didn't multi task--only one fire

01[14:16] {Threei}  wait... there was life before google??

[14:17] {nemo}  a long long time ago in a galaxy far far away

06[14:17] * nemo mumbles; "gotta' get my meds adjusted..."

[14:18] {dino} lctb to .96 slloooowwwww

[14:19] {dino} sheesh, thats supposed to be ctb

[14:23] {nemo} looking like iwm might bounce at .73ish

[14:24] {nemo} maybe not

[14:27] {nemo} nice of wdc to stop me out...and of course, after I tightened the stop

[14:30] {nemo} http://www.buzzfeed.com/expresident/boops-that-shook-the-world

[14:35] {dptl} anf .10 long?

[14:35] {dptl} if holds 37

01[14:37] {Threei}  .05 rather

[14:37] {dptl} ok

[14:37] {dptl} 37 stop?

01[14:38] {Threei}  .98

[14:39] {dptl} in

[14:43] {dptl} out half

01[14:43] {Threei}  :)

[14:43] {dino} zzzzzzzzzzzzzzzzzzzzzzzzzzzz

[14:45] {dolores} WDC nemo keeps bouncing ack

[14:45] {dolores} back

[14:45] {dolores} yoou shorting it again?

[14:45] {dolores} now it has trouble above .40

[14:45] {dolores} getting weaker?

[14:47] {dolores} LVS anything today?

01[14:47] {Threei}  WDC can go either way, 50/50

01[14:48] {Threei}  LVS, I'd short it if ls loses .20

[14:48] {dolores} no buy if it breaks .30?

[14:50] {dino} out ctb +.20

01[14:50] {Threei}  no, not liking long

[14:50] {dolores} ok

[14:51] {dolores} there is a  bid pushing it since .23

[14:56] {scottie} Have a nice weekend guys, see you monday

[14:57] {dptl} out anf

01[14:58] {Threei}  take care scottie

[15:12] {dptl} ok ...see ya monday all...have a good weekend

01[15:12] {Threei}  you too dp... take it easy with that mojito

[15:12] {dptl} i try :) 

[15:20] {dino} calling it a day/week too. thx all, some great ideas

01[15:25] {Threei}  take care dino

[15:27] {dolores} VAD you think someting might come up?

[15:27] {dolores} I am almost asleep!!!

[15:27] {nemo} odds are against it

01[15:27] {Threei}  it might...

01[15:27] {Threei}  who knows

[15:27] {dolores} ok

[15:27] {nemo} the shadow

01[15:27] {Threei}  I am still looking at LVS

[15:28] {dolores} ok

[15:31] {dolores} trade LVS still on at .20

[15:31] {dolores} ?

01[15:31] {Threei}  I think so yes

01[15:31] {Threei}  but keep an eye on the clock

[15:31] {dolores} ok

[15:32] {nemo} i'd be looking for short covering

[15:33] {nemo} fcx

[15:33] {nemo} sorry

[15:36] {dolores} nemo what you mean for a pop up?

[15:37] {nemo} yeah

[15:38] {nemo} of course, this isn't a normal friday

[15:38] {dolores} you in?

[15:38] {nemo} in what?

[15:38] {dolores} FCX

[15:39] {nemo} no went to look at it and was in wrong window

[15:39] {dolores} ok

[15:40] {dolores} I think will call it  a day+

[15:40] {dolores} not much time left

[15:40] {nemo} evening in your case

[15:40] {dolores} yes

[15:41] {nemo} buenos noches

01[15:41] {Threei}  LVS triggered

01[15:41] {Threei}  and drops fast

[15:41] {dolores} will stay ofr  awhile

[15:41] {nemo} .11 is S3

[15:42] {dolores} not in VAD only 20 minutes left

01[15:42] {Threei}  nice closing scalp

01[15:43] {Threei}  1:1

[15:45] {Beau} gn

01[15:46] {Threei}  thank you all, have a good weekend

01[15:47] {Threei}  see yo all on Monday

[15:47] {dolores} you too

[15:47] {dolores} see you monday

[15:47] {dolores} enjoy the weekend you all

[15:47] {dolores} and behave yourselves with the vodka!!

01[15:48] {Threei}  hmmm

01[15:48] {Threei}  I'll try but can't promise

[15:48] {dolores} yes I understand

[15:49] {dolores} was married to a guy form rusian blood!!

[15:49] {nemo} spy is going to close flat if you add back the dividend

[15:50] {dolores} take care guys see you monday

Sep 20 2012

A lot of good plays, and another good day. Catch of the day below (although a few playes competed for the title today), call embedded in the chart:

(Course on chart pattern recognition is available now: http://www.realitytrader.com/111trades.html)  


Session Time: Thu Sep 20 00:00:00 2012
[09:04] {jackharry} good morning
01[09:05] {Threei}  morning jack
[09:06] {goryl} gm
06[09:06] * nemo puke
01[09:06] {Threei}  goryl :)
[09:06] {dino} gm
[09:06] {nemo} this is worse than a hangover
01[09:08] {Threei}  dino :)
[09:12] {nemo} QCOR dino
[09:12] {dino} i'm staying away
[09:13] {dino} "better worlds" imo
[09:15] {dino} value added research, ubs cuts bbby target to 71 from 72.60. lol
[09:17] {scottie} GM
01[09:17] {Threei}  {UBS Senior Analyst} why did we have 72.60 in a first place when all my research shows it had to top at 72.57?
01[09:17] {Threei}  scottie :)
[09:18] {RonS} hello everyone
[09:19] {ese} gm
01[09:19] {Threei}  ron, ese :)
[09:20] {Beau} good morning all
[09:21] {Will49} GM to all
01[09:21] {Threei}  beau :)
01[09:21] {Threei}  will :)
[09:22] {ese}  I love Nashville…….would love to live there.
[09:23] {robbers} I live in Nashville, great place.
[09:24] {ese} was there in May robbers...........loved it
[09:25] {robbers} At least we can all agree Nashville is cool.
[09:26] {nemo} I like Asheville
[09:26] {ese} Ashevelle?
[09:26] {nemo} North Carolina
[09:26] {robbers} Much smaller, but nice, too.
[09:26] {cipher} gm
[09:26] {ese} hope to get there one day
01[09:27] {Threei}  cipher :)
[09:27] {ese} beautiful country down there
[09:30] {ese} watching qcor
[09:30] {RonS} nothing matches the view of the channel islands and the volcanic peaks seen from victoria on a clear day imo
[09:30] {ese} L 63 qcor
[09:30] {ese} 27.63
01[09:31] {Threei}  my every day's view Ron :)
[09:31] {ese} out .42
[09:31] {ese} whoa
[09:31] {ese} +.79
[09:32] {robbers} wtg
[09:32] {ese} L .51
[09:32] {dino} gj
[09:32] {ese} out 91
[09:32] {ese} +.40
01[09:32] {Threei} Long Setup:  FCX  .10 break hl
[09:33] {ese} good enough for me........man...moving like lightning
01[09:33] {Threei}  ummm
01[09:33] {Threei}  1:1
01[09:34] {Threei} Short Setup: FCX  .40 break
[09:34] {dolores} nice thxs .16
01[09:34] {Threei}  :)
[09:34] {dino} out fcx .37, +.26 ty vad
01[09:34] {Threei}  If holds  .50
01[09:34] {Threei}  welcome guys
[09:35] {dolores} another .10
[09:35] {ese} nice job boys
[09:35] {dolores} thxs
[09:35] {dolores} short
[09:35] {ese} and girls
01[09:37] {Threei}  no go
01[09:37] {Threei} Short Setup: SLW  .35 break
[09:38] {dolores} all flat?
01[09:38] {Threei}  change to aggressive, .40 break, if holds .45
01[09:40] {Threei}  cover half here
01[09:41] {Threei}  stop to .41
01[09:41] {Threei} Short Setup: POT  .20 break
[09:41] {dino} viab at yesterday hod
01[09:42] {Threei}  If holds  .25
01[09:43] {Threei}  no go POT
[09:43] {ese} I should say not........it's against the law
01[09:43] {Threei}  lol
[09:44] {dolores} out SLW
[09:45] {dino} cymi sm l .50
[09:47] {ese} one heck of a haircut yesterday for qcor
01[09:47] {Threei} Short Setup: DE  81 break hl
01[09:48] {Threei}  If holds  .10
01[09:48] {Threei}  haircut? try beheading
[09:48] {dolores} JCP gave all back today and even further
[09:48] {ese} ya that too
01[09:49] {Threei}  DE still valid
01[09:49] {Threei} Long Setup:  GLD  171 break hl
01[09:49] {Threei}  If holds  .90
01[09:50] {Threei}  Invalidated  DE
[09:51] {nemo} close to bounce time
[09:51] {nemo} l tna .81
[09:51] {nemo} stop under .68
[09:51] {nemo} spy could drop to .60
[09:51] {ese} L qcor .00
[09:52] {ese} small
[09:52] {dino} cymi stop -.30
[09:52] {nemo} scratching
[09:52] {nemo} spy dropping
01[09:53] {Threei}  Invalidated  GLD
[09:53] {nemo} waiting for spy .60ish
[09:54] {nemo} dltr
01[09:54] {Threei}  both actually worked as two-sided... in retrospect
[09:55] {nemo} l .62 tna
01[09:56] {Threei} Long Setup:  GLD  .70 break hl
01[09:56] {Threei}  Invalidated
[09:58] {nemo} 1/2 .72
[09:58] {nemo} this is a battle
01[09:58] {Threei}  struggle for sure
[09:58] {robbers} nice call on tna.
[09:58] {nemo} ty
01[09:58] {Threei}  why didn't we short GLD
[09:58] {nemo} market smells a change in the wind
[09:59] {nemo} offerin .89
[09:59] {dino} swks sm l .14
[09:59] {ese} dino you into qcor at all
[10:00] {nemo} stop is b/e
[10:00] {dptl} gm
[10:00] {dino} no, none avail to borrow, gut says its dead meat
01[10:00] {Threei}  *(US) SEP PHILADELPHIA FED: -1.9 V -4.5E
01[10:00] {Threei}  dp :)
[10:00] {nemo} 1/4 more
[10:01] {dino} in any case ese, great job on it
[10:01] {nemo} target for last 64.15ish
[10:01] {Will49} congrats ese
[10:02] {ese} have another 200shs here at 29.00......am curious to see what this is going to do
[10:02] {nemo} out below .80
[10:03] {ese} I think this things going to cover about 5 bucks or so
[10:03] {dptl} mcp .05 long?
01[10:03] {Threei} Long Setup:  BBBY  63 break small shares
01[10:03] {Threei}  If holds  .85
[10:04] {dino} back in 45 or so, swks hard stop .98
01[10:04] {Threei}  target .45
[10:05] {dolores} not triggered right?
01[10:05] {Threei}  not yet
01[10:05] {Threei}  now it did
[10:05] {dolores} in
[10:06] {dptl} half out mcp
01[10:07] {Threei}  1:1
[10:09] {nemo} stop under .90
[10:10] {Will49} tks Vad +.13
01[10:11] {Threei}  yw
[10:12] {nemo} kss
01[10:12] {Threei}  1:2
[10:12] {nemo} out last .16
[10:12] {scottie} +.28 tks Vad
01[10:12] {Threei}  :)
[10:12] {robbers} ty.
[10:12] {Will49} good one scottie
[10:13] {scottie} ty Will
[10:13] {jackharry} out at .42, thank you
[10:13] {RonS} lest i forget tell dino thanks  swks .11 to .45
01[10:14] {Threei}  target .45 hit, out
01[10:14] {Threei}  welcome guys
[10:14] {Will49} good cal Vad
[10:14] {jackharry} missed the first FCX, had the two stops on FCX and POT, but this got me back to break even
[10:14] {Will49} call
[10:15] {RonS} and 3i thanks bbby +.49
01[10:16] {Threei}  :)
[10:16] {goryl} Vad, ur a psychic:)
01[10:16] {Threei}  some think psycho
[10:16] {jackharry} high on bbby was .45, exactly your call, you should consider doing this for a living
01[10:16] {Threei}  really... :)
[10:16] {goryl} who do you work for??:)
[10:17] {nemo} Sith lord
[10:17] {nemo} force is with him
[10:18] {nemo} frickin' dltr
01[10:20] {Threei}  dolores, you out?
[10:20] {dolores} yes
[10:20] {dolores} today following better
[10:20] {dolores} first day super comfy
[10:21] {dolores} took some time
01[10:21] {Threei}  cool :)
[10:22] {scottie} cag l .75 ?
01[10:22] {Threei}  http://goo.gl/j7Xf4
01[10:22] {Threei}  feels l,ike reversal time close on it
[10:22] {scottie} ok
[10:27] {goryl} nihd
01[10:28] {Threei}  how about that CAG
[10:29] {scottie} you were right as usual, damn
01[10:30] {Threei}  maybe jack's right... I gotta try doing it for a living
01[10:30] {Threei}  but I am so successful at lying at the coach, hard to give that up
[10:31] {Will49} goryl...wouldn't 1000 shares of nihd been great?
[10:32] {goryl} wishful thinking:)
[10:32] {Will49} right on
[10:32] {nemo} should go to 8.45
[10:34] {goryl} nemo, how did you get that target?
[10:35] {dolores} any trade JCP?
[10:36] {nemo} on what, TNQA
[10:36] {nemo} tna?
[10:36] {goryl} nihd
[10:36] {nemo} oh
01[10:36] {Threei}  JCP. .75 break worth a try long
[10:37] {nemo} test of resistance on the daily look at period between july 10 to aug 8th or so, see the daily spike up to test the july drop of support?
[10:38] {nemo} SPY WPP is .28 might pause there
[10:38] {ese} outta here cya tomorrow
[10:38] {scottie} hlf double bottom ?
01[10:39] {Threei}  take care ese
[10:39] {ese} cya vad
[10:39] {Will49} go to bank on way to school:)
01[10:39] {Threei}  HLF yes, but spread is jumpy
[10:40] {goryl} thanks nemo
01[10:43] {Threei}  half out JCP
[10:43] {dptl} btu 24 long?
01[10:44] {Threei}  out in full
01[10:44] {Threei}  not delighted by BTU
01[10:44] {Threei}  took the trade dolores?
[10:44] {dptl} k
[10:45] {dolores} yes but had to cut it before someone called on the phone and had to check things in the computer
[10:45] {dolores} for work
[10:45] {dolores} pity
[10:45] {nemo} we're gonna' close the gap it looks like
[10:45] {dolores} green
[10:47] {dino} .
[10:47] {dptl} hes 55 long?
01[10:49] {Threei}  no energy at all
[10:49] {dptl} ye see it now
[10:54] {scottie} swks l 27 ?
[10:54] {robbers} Vad, checked out your 111 trades course, looks very helpful.  But the discount code didn't work, can you re-post it please?
01[10:55] {Threei}  worth a try, scottie
01[10:55] {Threei}  (discount code edited out)
[10:57] {robbers} Thanks, will sign up today.
01[10:57] {Threei}  :)
[10:58] {scottie} in .02
[10:59] {dino} asml sm l .41
[11:01] {nemo} mjn break of .15
[11:02] {scottie} covered .90 -.12
[11:03] {scottie} sold
[11:03] {robbers} OK, signed up for 111 trades...I'll be making my own calls by tomorrow.  Thanks for the nice discount, being Jewish, will consider it a wholesale Rosh Hashanah special.
01[11:05] {Threei}  lol... you are welcome
01[11:06] {Threei}  don't know about tomorrow, but by Monday for sure
[11:06] {nemo} sucks being a pagan in this room
[11:07] {robbers} Yeah, no trip to the Hamptons for you guys.
[11:08] {robbers} Vad, you didn't tell us the BBBY target was 64.45, mistakenly thought it was 63.45.
01[11:09] {Threei}  oh, i thought it was a given
01[11:10] {Threei}  forgot not everyone's psychic {G}
[11:14] {dino} ihs bit of blood
[11:15] {dino} kmx sm l .26
[11:20] {nemo} think we have a bottom in NSC
[11:22] {dolores} SWKS off lows
[11:23] {dptl} mat  .05 short?
[11:24] {dino} watching it dolores, trig .00 break
01[11:24] {Threei}  MAT, no read
01[11:25] {Threei}  can go either way
[11:25] {dptl} ok
[11:27] {dptl} everything is slowed down...
[11:27] {RonS} not nsc...
[11:27] {dolores} you still in dino?
[11:27] {Will49} time to put on some jazz and smoke a BC flag
[11:28] {dptl} lol
[11:28] {dolores} dont like too much the weakness
[11:28] {RonS} being blunt eh will?
01[11:28] {Threei}  lol... will, why do you think ese left
[11:28] {robbers} lol will.
[11:28] {dino} in what dolores?
[11:28] {dolores} SWKS
[11:29] {dino} no stopped .99 on way down hour ago
[11:29] {dolores} ok
[11:29] {RonS} dino said .00 break trigger...never happened
[11:30] {dolores} Yes i thought he was still in from before Ron
[11:30] {dino} kmx tighten to .14 no like
[11:30] {nemo} in .01
[11:30] {RonS} ahso...got the mibbet boot so did not see
[11:30] {nemo} stop under .90
[11:31] {dino} have to say mirc much better than mibbit, but was tough to load
01[11:31] {Threei}  mirch removes one link fron the connection chain
[11:31] {dolores} on what Nemo?
[11:31] {RonS} have tried twice now and could never get it to work
[11:31] {Will49} I'm having no end of grief trying to load mirc
[11:31] {dolores} 01?
01[11:32] {Threei}  mibbit connects you to our server via mibbit servers
01[11:32] {Threei}  mirc is direct
[11:32] {nemo} .01 NSC
01[11:32] {Threei}  just follow the instructions to the letter
[11:32] {Will49} but once mirc is connected, is it faster?
01[11:32] {Threei}  it works, but have to do every step exactly
01[11:33] {Threei}  it is faster
[11:33] {Will49} I've done it 3/4 times now
[11:33] {Will49} no worky
[11:33] {RonS} lol
[11:33] {nemo} out
[11:33] {nemo} swks
[11:33] {nemo} sorry
01[11:33] {Threei}  come on... there are quite a few people in the very room who did it :)
[11:33] {Will49} i'm a special case
[11:34] {dino} took me couple times will
[11:34] {dptl} strange i've installed mirc number of times in dif. machines never had any problems
[11:34] {dino} i am tech illiterate
[11:34] {scottie} I started using mirc a few days ago and no problems so far
[11:34] {Will49} well, i paid for it so my scottish heritage will keep me focussed
[11:34] {dino} kmx stop
[11:34] {scottie} The sound alert is nice too
01[11:35] {Threei}  you don't even have to ay for it if you don't want to
01[11:35] {Threei}  pay
01[11:35] {Threei}  it'll work
[11:35] {scottie} every time Vad writes the word setup it starts ringing bells
[11:35] {goryl} the sound alert makes a huge difference
[11:35] {scottie} so I miss less setups that way
[11:36] {Will49} that's what I need
[11:36] {Will49} have a wandering mind
01[11:36] {Threei}  hey, you have one... not many can say that
[11:36] {Will49} :D
[11:37] {Will49} how come the mind-less guys can get on mirc?
[11:37] {dptl} lol
[11:37] {dptl} bc flag Will
[11:37] {Will49} now that's worth a try
01[11:37] {Threei}  get dp on dcc, let him walk you step by step
[11:37] {dino} asml to b/e things stuck
[11:38] {dino} ssys sm l .00
[11:38] {robbers} Am trying to figure out how to set alerts for the calls, was that easy for you, Scottie?
01[11:38] {Threei}  next shishlebab gathering you'll owe him a drag from you stoggie
[11:38] {jackharry} I'm still using mibbit, what are the advantages of changing to mirc?
01[11:38] {Threei}  you have mirc running yet robbers?
[11:38] {dptl} well instruction on the site is pretty much whot you need, but make sure you do ekzktly what it says
[11:38] {nemo} look at the games around 66 on NSC
[11:39] {RonS} begging the Q:  About 84% of human genes are active in the brain, findings show
[11:39] {scottie} Right click on Threei
[11:39] {scottie} click on info
01[11:39] {Threei}  jack, mirc is faster and allows sound alert
[11:39] {scottie} go to highlight
01[11:39] {Threei}  so ot rings when I type word setip for instance
[11:39] {scottie} add
01[11:39] {Threei}  you can get all fancy and set different alerts for "long" and "short" if you want
[11:40] {scottie} and follow instructions
[11:40] {goryl} Vad, will u be in the room next thurs and friday?
01[11:41] {Threei}  no
01[11:41] {Threei}  neither Mon
[11:41] {dino} no, vad and i are golfing in myrtle beach next wed-sun
[11:42] {goryl} Mon, Oct 1?
01[11:42] {Threei}  considering I've never held the golf thingy in my hands, dino will have time of his life
[11:42] {dino} indeed
[11:42] {dptl} when are you going?
01[11:42] {Threei}  I'll be back on Tuesday, goryl
01[11:43] {Threei}  leaving Thursday
[11:43] {dptl} i see :)
[11:43] {goryl} ok, hoping to have the account setup by then..
[11:44] {dptl} rio long?
01[11:44] {Threei}  will be tough schedule
01[11:44] {Threei}  .05... yeah
[11:45] {dptl} ye .05 was thinking
[11:45] {dptl} with .95 stop
01[11:46] {Threei}  in Toronto Thu aftrenoon, reception in an hour, starting my speaking gig Fri morning, whole day till 5, dinner after that, leaving for Montreal Sat 10 am
01[11:46] {Threei}  leaving back for west coast Mon morning
01[11:47] {Threei}  severe jet lag till Fri :)
[11:48] {dptl} in rio
[11:48] {robbers} Three, mirc has been a challenge for me, too, am getting it sorted out though.
[11:51] {Will49} Vad, ever tried melatonin for jet lag?
[11:51] {Will49} Used to fly back and forth and it saved my sanity
01[11:51] {Threei}  good idea
[11:51] {nemo} I'd question that assumption WIll
[11:51] {Will49} or was it the BC flag?
01[11:51] {Threei}  lol
[11:52] {dptl} lol
[11:52] {Will49} I know nemo...the moment I typed that I knew you'd be on it
[11:52] {nemo} ;-)
[11:56] {nemo} yeah, now that I think of it, that was kind of unsporting of me...taking advantage of amateurs like that
[11:56] {dptl} took half out rio
[11:56] {Will49} yeah....:(
[11:56] {Will49} bully
[11:56] {Will49} :)
[11:57] {nemo} wuss
[11:57] {Will49} is that a stock or an insult?
[11:57] {cc_8} i think he needs to setup the perform
[11:57] {nemo} try the ticker...you tell me
[11:58] {Will49} I know... v v u s
[11:58] {Will49} you've already used up your insult quota for the day
[11:59] {nemo} don't let me get started
[11:59] {Will49} :/
[12:01] {nemo} think fas break of .10 worth a shot
[12:02] {nemo} partial .25
[12:02] {nemo} just had that look
[12:02] {dptl} i am out rio....got to go see ya tomorrow all
[12:02] {nemo} next partial .39
[12:03] {nemo} look for test of the high, pullback, and break again
[12:03] {Will49} be good DP
[12:03] {dptl} :)
[12:03] {nemo} that was nice
[12:03] {Will49} we have to watch him
01[12:04] {Threei}  take care dp
[12:04] {nemo} stop to b/e
[12:04] {nemo} hfc
[12:07] {nemo} apa break of .70 is probably a long
[12:07] {nemo} hold .60 of course
[12:09] {dino} wtf swks
[12:10] {dolores} report was not that bad on SWKS
[12:10] {dolores} downgrade mayb?
[12:11] {dino} sm l .60
01[12:12] {Threei}  robbers, you are using wrong username
[12:12] {nemo} see 200sma at 25.19 should hold that
01[12:12] {Threei}  [11:55] * robbersss was kicked by ChanServ
01[12:12] {Threei}  see 2 more s?
[12:12] {robbers} Yeah, just got it, am in on mirc.
01[12:12] {Threei}  ok :)
[12:12] {robbers} figuring out alerts now...
[12:12] {nemo} He's from Tennessee...think Deliverance
01[12:13] {Threei}  see will... two more flags, and you are there
[12:13] {nemo} Family tree probably doesn't have branches
[12:13] {robbers} Good, I've been publicly insulted, now an official member of the room.
[12:13] {nemo} out fas
01[12:14] {Threei}  only by nemo, robbers
01[12:14] {Threei}  insults by others are merely nice, no offivial power though
[12:14] {nemo} yeah, everybody just talks about you in dcc
[12:15] {robbers} You mean, I have to be insulted by everyone, don't know if I can handle that without a BC.
[12:15] {nemo} l nsc .34
01[12:15] {Threei}  no, just the opposite
01[12:15] {Threei}  only nemo's insuts are officially instituted as stamp of approval
[12:16] {nemo} stop under .25
[12:16] {robbers} The alert I'm trying to set is for an insult from nemo....but it keeps ringing constantly.
01[12:16] {Threei}  all others are just for pleasure
[12:16] {nemo} oh please, don't start placing yourself on a pedestal
[12:16] {robbers} lol
[12:18] {nemo} partial .49
[12:18] {nemo} stop .24
[12:23] {dolores} whats up with SWKS? anything new?
[12:24] {nemo} http://www.forbes.com/sites/ericsavitz/2012/09/20/skyworks-updates-fy-q4-guidance-shares-take-a-hit/?partner=yahootix
[12:24] {nemo} short to 23.25
[12:26] {dino} strange tho, raises and gets killed
[12:28] {nemo} tna break of .50 worht a try if it holds here aond spy doesnt drop .25
[12:29] {nemo} damn fricin SWKS bounced above my bid
[12:29] {nemo} 2 frickin cents
[12:29] {nemo} was only 100 shares
[12:30] {nemo} tna .51
[12:30] {nemo} damn damn damn
[12:30] {nemo} .02 FRICKIN CENTS!
[12:31] {dino} been there buddy
[12:31] {nemo} Yep
[12:31] {dolores} got 34. cents on it
[12:31] {dolores} very conservative
[12:31] {nemo} where'd you get in?
[12:32] {nemo} .34 cents on 5 or 10 thousand shares ain't chump change
[12:32] {dolores} 23.51
[12:32] {dolores} 23.85
[12:32] {dino} gj d
[12:32] {nemo} out tna
[12:32] {nemo} gonna be a rinse
[12:32] {dino} l .00
[12:33] {nemo} rinse
[12:33] {dino} stop to .20
[12:33] {dino} out
[12:33] {dino} +.20
[12:35] {dolores} jcp smashed
[12:35] {nemo} that's a leaker
[12:35] {nemo} as a mater of fact look at all that stacked on the offer
[12:36] {nemo} short here with a stop at .20
[12:36] {nemo} or stop if it breaks .15
[12:36] {nemo} look at that
[12:36] {nemo} they're curb stomping it
[12:37] {nemo} now that's piling on
[12:37] {nemo} should be able to ride that below 25.50
[12:38] {nemo} helluva a lot more getting sold on the offer than is showing
[12:38] {nemo} hehehehehe
[12:38] {nemo} put a fork in it
[12:39] {nemo} partial here if you took it
[12:39] {nemo} look at that on the offer
[12:39] {nemo} they ain't done
01[12:39] {Threei}  64% Think Too Many Americans Dependent on Government Financial Aid
[12:39] {nemo} swks
[12:40] {nemo} sorry
[12:40] {nemo} would need to stay under .10 to be weak, would expect a rebid here at the whole
[12:41] {nemo} drops the whole, good night to .50ish
[12:42] {jackharry} testing.....in with mirc
[12:42] {nemo} actually might have lied, support on the daily .80ish
01[12:42] {Threei}  A+ jack
01[12:42] {Threei}  will... you have no excuses anymore
[12:43] {Will49} :(
[12:43] {Will49} you mean if jack can do it...anyone can?
[12:43] {jackharry} hey!!
01[12:43] {Threei}  I meran two who had troubles overcame them... :)
[12:43] {Will49} oops...thought I was nemo there for a minute
01[12:43] {Threei}  so put away that flag
01[12:44] {Threei}  open the window
01[12:44] {Threei}  let frsh air in
[12:44] {Will49} guess I'll have to sober up if I'm going to get mirc up
[12:44] {jackharry} Sorry, i know you have already explained this, but how do i get the sound alerts?
01[12:44] {Threei}  hmmm... that's questionable concept
01[12:44] {Threei}  right click on my name
01[12:45] {Threei}  info
01[12:45] {Threei}  highlight
01[12:45] {Threei}  add
[12:45] {nemo} swks l break of .50
01[12:45] {Threei}  self-explanatory from there
[12:46] {nemo} think I'd like to pick it up areound .25ish
[12:46] {jackharry} got it, thanks
[12:50] {nemo} l .25
[12:50] {nemo} partialed .36
[12:51] {nemo} reload above .50
[12:51] {dino} was at .10, no fill
[12:51] {nemo} told ya .25ish!
[12:51] {nemo} I waited for a rebid
[12:51] {dino} lol
[12:51] {dino} gut thinks it gets to 26
[12:52] {nemo} geez where'd ya get that dino
[12:52] {dino} you know
[12:52] {nemo} bought .52
[12:52] {RonS} swks in .22 target .85
[12:52] {dino} took .51
[12:52] {nemo} target 25.75
[12:52] {nemo} Nantucket sleigh ride coming me thinks
[12:52] {RonS} ?
[12:53] {nemo} look it up
[12:53] {nemo} partialed reload .66
[12:53] {RonS} why?  no snow there...
[12:53] {nemo} look it up
[12:54] {nemo} http://en.wikipedia.org/wiki/Nantucket_sleighride
[12:54] {dino} wow
[12:55] {nemo} stop .39 for everything
[12:55] {nemo} Cmon' I wanna' here Neil Diamond in my head
[12:55] {nemo} hear
[12:56] {nemo} financials a drag
[12:56] {nemo} bummer, hole in the boat
[13:00] {nemo} s qcom .94 small
[13:00] {nemo} stop .00
[13:00] {nemo} scalp
[13:02] {nemo} out
[13:02] {nemo} swks
[13:02] {nemo} sorry
[13:04] {dino} ?
[13:06] {RonS} lol...classic...http://www.theonion.com/articles/media-having-trouble-finding-right-angle-on-obamas,2703/
[13:08] {nemo} walking the SPY WPP
[13:08] {nemo} FL
[13:08] {nemo} this a slow train to .60
[13:10] {nemo} esrx
[13:12] {nemo} l swks .05
[13:12] {nemo} stop under the whole
[13:12] {nemo} partial .15
[13:12] {nemo} offering .49
[13:14] {dino} swks sm l .10
[13:17] {RonS} Obama Gallup approval down to 46%, disapproval up to 48% http://bit.ly/JG7Sv
[13:18] {RonS} good thing ese not here
[13:18] {RonS} :( :ese
01[13:19] {Threei}  you know he will laugh last anyway, right Ron?
[13:20] {nemo} ignorance is bliss
[13:21] {scottie} nus s 39 ?
[13:21] {RonS} feerings are bliss
[13:21] {nemo} mmmmhhhhhqcom short here?
01[13:21] {Threei}  I think sp scottie
[13:22] {nemo} swks breks ths .35 then stop to .24
[13:23] {nemo} here comes my partial
[13:23] {nemo} cmon' SWKS or I'll beat you like my nephew
[13:23] {nemo} mmmhhh, didn't like that
[13:24] {scottie} nus not in short list
[13:26] {nemo} out swks
[13:26] {nemo} another hair trade
[13:28] {nemo} oh oh
01[13:30] {Threei}  whatever happens, it's not his fault, ron - he does all he can with nightmare he got. He was drafted for the job, you know
01[13:30] {Threei}  it's useless talking to people whose mind is made up
01[13:30] {Threei}  http://www.youtube.com/watch?v=DVG1q49yPaY
[13:31] {goryl} see u all tomorrow
01[13:31] {Threei}  take care goryl
[13:32] {goryl} Vad, does the room membership automatically renew or do I need to do it every month?
01[13:32] {Threei}  automatically
[13:33] {goryl} ok
01[13:33] {Threei}  it's a hotel california
[13:33] {RonS} swks  looks like13k  jan 26/30 call spread bought for 1.20 or 1.56mil
[13:34] {RonS} BREAKING: AU Optronics fined $500 million for price-fixing conspiracy
[13:35] {dino} ssys to .49, taking hors
[13:36] {dino} hours, lol
[13:37] {dino} to .70
[13:37] {dino} to .80
[13:38] {dino} out major slip ave .69, +.69
[13:44] {nemo} UNP volume coming in, if it can't go up, it's going down
[13:46] {nemo} oh nice.  .91 high there, drops .84 tight stop, like it
[13:48] {dino} that 24.50 area has froze swks
[13:48] {nemo} it should go
[13:57] {RonS} deck has none...
[13:58] {dino} deck drop
[13:59] {nemo} really
[14:04] {RonS} deck sheepish...
[14:08] {dino} sm l .97
[14:09] {dolores} in what dino?
[14:09] {nemo} deck
[14:10] {dino} y
[14:11] {dolores} target?
[14:14] {dolores} out
[14:15] {dino} deck stop -.25
[14:18] {RonS} fb trying to challenge yest highs...
[14:29] {dino} deck rinsed
01[14:32] {Threei}  don't you hate when they do that
[14:33] {dolores} JCP
[14:33] {RonS} chatter about a spain rescue plan tomorrow
01[14:34] {Threei}  meanwhile,
01[14:34] {Threei}  (GR) Greece creditors evaluating another debt haircut in order for the country to achieve sustainability - Germany press- IMF pushing creditors to accept a new haircut that would not involve the ECB or the IMF
01[14:34] {Threei}  usual programming :)
[14:34] {RonS} via stocktwits:    If you think Wall St is all fun and games, try listening to an investor day presentation- an hour so far saying absolutely NOTHING $SWKS
01[14:35] {Threei}  I have better version:
01[14:35] {Threei}  If you think Wall St is all fun and games, you are complete idiot
[14:35] {Will49} lol
01[14:36] {Threei}  or
01[14:36] {Threei}  If you think Wall St is all fun and games, you smoked one BC flag too much
[14:36] {Will49} yeah....:D
01[14:36] {Threei}  (ES) EU in talks over the Spain rescue plan, formulated economic reform program to ease the path towards a Spain request; to be due Thurs, Sept 27 - FT- Reminder: Spain's bank audit report and the Govt's 2013 budget announcement is due Sept 28
01[14:37] {Threei}  I need to write an article on trading and excitment...
01[14:37] {Threei}  maybe after the conference, gotta prepare for it
[14:38] {Will49} If you think Wall St is all fun and games, you ...should be slapped around with Vad's 2X4
[14:39] {Will49} like downhill sking....twenty minutes interrupted by twenty second of sheer terror
[14:39] {Will49} tewnty minutes of boredom, that is
01[14:41] {Threei}  I hink you are almost there to benefit from Taoist Trader, will
[14:41] {Will49} no doubt
[14:42] {Will49} can't afford it right now Vad..have to get a new supply of flags
01[14:42] {Threei}  good to know your priorities are i n order {G}
[14:42] {scottie} bbby ?
[14:43] {Will49} at least scottie is watching the store for us
[14:43] {scottie} nothing else to do, out of flag
[14:43] {Will49} no offence Vad
01[14:43] {Threei}  I'd like to see one more pullback, holding 62, then .15 break for a trigger
01[14:43] {Threei}  right away, not so sure
[14:43] {scottie} I thought of something like that
01[14:44] {Threei}  let it consolidate now, define new resistance to break for a trigger
01[14:44] {Threei}  and hold 62 of course
01[14:44] {Threei}  ideally, a few bacm and forth between 62 and .10
01[14:44] {Threei}  then .10 break
01[14:45] {Threei}  nice aggressive entery for double bottom
[14:46] {scottie} missed it
01[14:46] {Threei}  like charm, although broke a bit too fast
01[14:46] {Threei}  if missed, try to bid .12 - .15
[14:46] {dolores} nothing on spanish papers about rescue yet
01[14:46] {Threei}  it may pull back quickly
01[14:47] {Threei}  there
01[14:47] {Threei}  get it now or forever hold your peace
[14:47] {scottie} in .16
01[14:47] {Threei}  target about .45
01[14:48] {Threei}  stop is so obvious, I won't insult your intelligence
01[14:50] {Threei} Short Setup: MON  91 break
01[14:51] {Threei}  If holds  .15
[14:55] {dino} ipgp drop
01[14:56] {Threei}  die MON
01[14:56] {Threei}  1:2 - 1:3
[14:58] {dino} ipgp sm l .65
[14:58] {nemo} vlo long off tso
01[14:58] {Threei}  BBBY 1:1
[14:59] {scottie} out bbby +.20
01[14:59] {Threei}  conservative entry
01[14:59] {Threei}  a bit of creativity added to a standard trade
[14:59] {scottie} :)
[15:00] {dino} out bbby .29, +.28 ty vad
[15:00] {dolores} BBBY .16
[15:00] {dolores} thxs
[15:00] {dino} opps +.18
01[15:00] {Threei}  yw
[15:01] {dolores} stop MON .16
01[15:01] {Threei}  yes... ideally, it drops to under 91 from here so we can trail to .11
[15:02] {dolores} ok thxs
01[15:02] {Threei}  that working BBBY's entry, glad we could do it real time, illustrates the process of thinking as situation changes
01[15:03] {Threei}  want it this way... no, it shapes up differently... how I adjust to follow the logic of the moveent...
[15:03] {dino} out ipgp .90, +1.25
01[15:03] {Threei}  wow
01[15:03] {Threei}  wtg
[15:03] {dino} got lucky
01[15:03] {Threei}  let's trail MON to .12
01[15:03] {Threei}  it it double-bottoms here, we will cut it there
01[15:04] {Threei}  and if breaks down, it's a nive inverted C&H with great potential
01[15:04] {Threei}  nive = nice
01[15:07] {Threei}  oh well
[15:07] {dolores} out
[15:08] {dolores} rinsed?
01[15:09] {Threei}  who knows
[15:10] {dolores} short again if it breaks 91?
[15:10] {dolores} did not break .15
01[15:11] {Threei}  hard to tell
[15:11] {dolores} ok
[15:13] {RonS} cstr puke during gs conf presentation
[15:23] {dolores} you were right MON
[15:23] {nemo} wow, we probably rip higher tomorrow
[15:26] {scottie} cstr db ?
01[15:29] {Threei}  not sure
[15:30] {scottie} ok
[15:42] {scottie} OK guys, see you all tomorrow
01[15:42] {Threei}  you too scottie
[15:54] {Will49} good evening everyone
01[15:54] {Threei}  thank you all
01[15:54] {Threei}  have a good evening, see you tomorrow
[15:57] {dino} gn
[15:57] {dolores} bye guys see you tomorrow
[15:57] {dolores} thank you !