Wednesday, October 24, 2012

Oct 24 2012

Decent day despite FOMC and some software problems. Why does shorting FB deliver so much pleasure, I've no idea... but this 1:3 is the most satisfactory trade, not even speaking of nicely profitable.


Session Time: Wed Oct 24 00:00:00 2012
[09:07] {dino} gm
01[09:10] {Threei}  morning dino
[09:12] {cipher} gm
[09:12] {scottie} good morning
01[09:12] {Threei}  cipher, scottie :)
[09:17] {Beau} good morning
01[09:17] {Threei}  beau :)
[09:18] {nemo} so cipher, how many trades so far in FB?
[09:18] {ese} morning
01[09:19] {Threei}  ese :)
[09:19] {nemo} he's so observant
01[09:19] {Threei}  time to check if FB is shortable for you
[09:20] {nemo} very
[09:21] {ese} this is going to be an easy morning ........am still L btu 28.00.....am up .50 on 1200.....we'll see what happens at the open
01[09:22] {Threei}  nice
[09:22] {Will49} Good Morning
[09:22] {ese} ya after rasied earnings guidance i bought the pull back yesterday...dino style
[09:23] {ese} mornin will
[09:23] {Will49} Hi E
01[09:23] {Threei}  will :)
[09:23] {ese} it's raining in my end of town.......I hear it's sunny in your end
01[09:23] {Threei}  will, do you use firewall?
[09:23] {Will49} Yes
01[09:24] {Threei}  oughtta try mirc with firewall off
[09:24] {Will49} Just windy down here
01[09:24] {Threei}  could be the reason
[09:24] {ese} was just kidding
[09:24] {Will49} I'll try that during noon lull...tks Vad
01[09:24] {Threei}  let's eliminate them one by one
01[09:25] {Threei}  French appeal court sends country's biggest rogue trader, Soci�t� G�n�rale's J�r�me Kerviel, to prison; orders him to pay back $7bn
01[09:25] {Threei}  fat chance for that to be repaid
[09:25] {ese} new microsoft tablet "Surface" getting very good reviews from the wall street journal
01[09:25] {Threei}  what about users
[09:26] {ese} it's coming out........so far only reviewers/ technician's etc
[09:27] {dino} gj ese
[09:27] {ese} tks
[09:29] {ese} ego trip for Mark Zuckerberg I see........earnings up
01[09:31] {Threei} Long Setup:  FB  .=24 break sm
01[09:31] {Threei} Long Setup:  FB  .80 break sm
01[09:31] {Threei}  If holds  .65
01[09:31] {Threei}  1:1
01[09:33] {Threei} Long Setup:  FCX  .45 break hl
01[09:33] {Threei}  If holds  .35
01[09:36] {Threei} Long Setup:  FB  .05 break hl
01[09:36] {Threei}  If holds  .90
01[09:36] {Threei}  Invalidated
01[09:37] {Threei}  no go FCX
01[09:37] {Threei}  Gross: On Nov 7th a Romney victory good 4 stocks/bad 4 bonds. Obama vice versa.
01[09:37] {Threei}  I think he is very wrong about stocks
[09:39] {ese} out btu .54 +.54
[09:39] {Will49} nice
01[09:40] {Threei} Long Setup:  LVS  45 break
01[09:40] {Threei}  If holds  .90
[09:40] {ese} tks...........great work if you can find it
01[09:40] {Threei}  target 1:2
[09:41] {ese} take a look at what i missed though it was up .90 then shot down instantly to .50....ticked me off
[09:41] {ese} couldn't pull the trigger fast enough
01[09:42] {Threei}  SPY is still weak
[09:42] {ese} and getting weaker
[09:43] {dino} 07 red
[09:43] {nemo} watch .75 level for mnst short
[09:44] {cipher} CAT L .23
[09:46] {ese} anyone seen this article in MSNMONEY.....I went Whoa:DDCOHHOGNFLX  US may soon become world's top oil producer October 23, 2012 4:10 PM ET
[09:46] {dino} six hl l .05
01[09:47] {Threei}  I've no doubt it'll happen if Romney wins
[09:47] {cipher} stopped cat .13 -.10
[09:47] {dino} wow six
[09:47] {nemo} mnst hit yesterday's close at .73 and dropped looking for retest and short at failure
[09:47] {dino} out .25, +1.25
[09:47] {dino} opps 1.20
[09:48] {dino} six that was
[09:48] {scottie} wow gj dino
[09:48] {dino} report looks decent, earnings way up rev slight miss
01[09:48] {Threei} Long Setup:  FCX  .10 break
01[09:48] {Threei}  If holds  39
[09:49] {nemo} damn didn't get retest
[09:49] {dino} sm l .15 six
[09:49] {nemo} o.k. looking for bounce ast IWM get's somewhere between .15-.25 and spy somewhere between .45-.55
[09:50] {ese} interesting.........things just jumpin.......toping tails/bottoming tails on the spyders
[09:50] {ese} doesn't know if it's comin or going
[09:50] {cipher} cat l .12
01[09:53] {Threei}  #Ohio: #Obama 48%, #Romney 48%
[09:53] {cipher} stopped cat .00 -.12
[09:54] {dino} out six .99, -.16
[09:54] {dino} six = pulp
[09:55] {cipher} six l .29
01[09:55] {Threei}  FCX looks ready for blastoff
01[09:55] {Threei}  1:2 or more
[09:55] {ese} yup
[09:55] {cipher} tna l .67
[09:55] {dino} six sm l .40
[09:56] {cipher} cat l .08
01[09:57] {Threei}  .15 break should seal the deal
[09:58] {ese} how big a position cipher with cat
01[09:58] {Threei}  1:1
[09:58] {dino} six stop -.30
[09:59] {dino} damn
[10:00] {dino} re-load six sm l .10
[10:01] {dino} out six .65, +.55
[10:01] {ese} wow.....smokes there dino.........nice one
[10:02] {dino} pulp
[10:02] {ese} didn't have the nerve to follow you
[10:02] {dino} lay out on it
01[10:02] {Threei}  scalpers win
[10:03] {cipher} out cat .13 +.05
[10:03] {ese} six still goin
01[10:03] {Threei} Long Setup:  FB  .80 break hl
01[10:04] {Threei}  If holds  .70
01[10:04] {Threei}  Invalidated
[10:05] {dino} six sm l .54
01[10:05] {Threei}  National Daily Tracking: #Romney: 50%, #Obama: 46%
[10:06] {dino} 07 red again
[10:06] {nemo} I'll feel bad for Obama...he'll have to go home to his wife if he loses
[10:06] {dino} out six .97, +.45
01[10:06] {Threei}  wtg
[10:07] {ese} smokin
[10:07] {ese} ya.......wait a minute........what are you smokin dino.........you do this everyday......I wouldn't mind some of that
[10:08] {Will49} you gunslinger dino:)
[10:08] {cipher} SIX going higher imo
[10:09] {Will49} when I grow up I want to be just like you dino
01[10:09] {Threei}  how much more pathetic does it get:
01[10:09] {Threei}  I don't want to lose this election.
01[10:09] {Threei}  Not because of what losing would mean for me -- Michelle and I will be fine no matter what happens.
01[10:09] {Threei}  But because of what it would mean for our country and middle-class families.
[10:09] {Will49} puuuukkkkeeeee
01[10:09] {Threei}  "I am carrying this burden for you"
01[10:09] {Threei} Long Setup:  GLD  .30 break
01[10:10] {Threei}  If holds  .20
[10:10] {ese} lol
[10:10] {cipher} tna l .10
[10:10] {ese} gotta love it.............
01[10:11] {Threei}  continue with these ridiculous romnesia and buyonets, you won't win any single state but California and NY
01[10:12] {Threei}  very small of a guy who got elected on hope and change
[10:12] {ese} it's a different world out there..........no moral standards...no accountability..........
[10:12] {Will49} what a joke
01[10:13] {Threei}  whole campaign is built on attempts to ridicule the contender
[10:13] {ese} just leaves you feeling positive about the planet don't you think
[10:13] {cipher} scalin out of six .21
01[10:13] {Threei}  well... to paraphrase obama, planet will be fine no matter what {G}
01[10:13] {Threei}  it doesn't need us really
[10:14] {cipher} six +.92
01[10:14] {Threei}  wtg
[10:14] {ese} oh.....and by the way.........you all better be making earthquake predictions and get it right or your gonna get charged and chucked in jail
[10:14] {cipher} out last piece of six .52 +1.23
[10:15] {dino} cipher gj
[10:15] {cipher} ty
[10:15] {cipher} thx for heads up on it
01[10:15] {Threei}  yeah, Italy set new standard
[10:15] {ese} whoa....C baby!!!!!
[10:15] {dino} ese and will, just lucky gyus
01[10:15] {Threei}  but when do we get to weathermen?
[10:15] {ese} lol
01[10:16] {Threei}  GLD 1:1
[10:16] {ese} L btu .30
[10:17] {cipher} out tna in full .50 +.40
01[10:17] {Threei}  1:2, out
[10:17] {dino} gj
[10:17] {cipher} thx nemo for heads up
01[10:17] {Threei}  breathing easier
[10:17] {scottie} +.19 tks Vad
01[10:17] {Threei}  :)
[10:18] {Will49} Tks vad .15
[10:18] {cipher} done for the day
[10:18] {cipher} cya tom
[10:18] {cipher} thx for ideas!
01[10:18] {Threei}  lol
01[10:18] {Threei}  take care cipher
[10:19] {dino} cya cipher
[10:21] {dino} eat blood
01[10:23] {Threei}  talking to vampire dino?
[10:23] {dino} symbol
01[10:24] {Threei}  I know :)
[10:24] {dino} eat sm l .85
[10:24] {dino} stop is .65
[10:25] {dino} stop
[10:25] {dino} gap around 28.30
[10:31] {dino} damn, missed eat, gut had it going to high 28s
01[10:33] {Threei}  watching SLW for puillback entry
01[10:37] {Threei}  never gave anything worthy
01[10:38] {Threei}  is it me or quotes are flaky a bit?
[10:38] {goryl} flaky
[10:38] {Will49} yes, charts level 2 out of sinc
[10:38] {Will49} spy
[10:38] {Will49} oops sorry
[10:39] {scottie} Am I the only one having problems with data on Laser this morning^
[10:39] {Will49} me too scottie
[10:39] {scottie} I keep changing servers to get charts and quotes updated correctly
[10:40] {ese} am outta here cya tomorrow
[10:40] {Will49} take it easy ese
[10:40] {ese} tks will
01[10:40] {Threei}  take care ese
01[10:40] {Threei}  same here scottie
01[10:41] {Threei}  at the moment, quotes=2 and charts=3 works
[10:45] {Will49} does changing servers solve the problem
01[10:46] {Threei}  for a while
[10:47] {Will49} for a guy who can't get mIRC going, the last thing I'd try is to change servers:)
01[10:47] {Threei}  lol, it's one click operation
[10:48] {Will49} how?
01[10:48] {Threei}  Quote - Swtich Quote server
[10:49] {Will49} yes, got it
01[10:50] {Threei}  let's wait out until they stabilize things
01[10:50] {Threei}  last thing we want is to open position and get stuck
[10:55] {cc_8} laser is having some issues
[10:55] {cc_8} cant close positions
01[11:00] {Threei}  let us know pls when it's safe to trade again
[11:00] {thomcbell} long setup AIG - 35 break if holding 34.96
01[11:01] {Threei}  will... try that firewall meanwhile?:)
[11:01] {Will49} ok
01[11:01] {Threei}  looks nice tbell
[11:03] {will49} Ok..let's see if firewall was problem
[11:05] {nemo} fcx
[11:08] {thomcbell} aig invalidated....obviously
01[11:08] {Threei}  yup
[11:10] {thomcbell} FB appears will resolve to the pside at some point today
[11:10] {thomcbell} upside
01[11:11] {Threei}  cc_8, any word?
[11:14] {will49} Guess not!
01[11:16] {Threei}  apparently not, will
[11:16] {cc_8} seems like laser stuff is being resolved
[11:16] {cc_8} are u able to log in and close positions will?
[11:20] {scottie} quotes and charts servers still unstable here, CC
[11:23] {Will49} back on Mibbit
[11:24] {Will49} maybe it's Les who's screwing up my chat room settings
[11:24] {Will49} :D
[11:25] {dino} lol
[11:25] {Will49} Vad..are you on shaw cable?
01[11:25] {Threei}  yes
[11:26] {Will49} OK, thought maybe their built-in protection might be suspect
01[11:26] {Threei}  hmmm... they have it?
01[11:26] {Threei}  never looked into that :)
[11:27] {cc_8} oh u meant irc settings not laser
[11:27] {Will49} right
[11:28] {Will49} cc...the mIRC forum suggests that ping issue affects a lot of users but they offer no solutions
01[11:29] {Threei}  will, is it something enabled by default, or you turn it on or off on a client side?
[11:29] {Will49} enabled by default (i think)
[11:30] {Will49} I'll call them later about it
[11:30] {Will49} just like learning to trade, I'll get onto mIRC if it kills me:)
01[11:30] {Threei}  lol
01[11:31] {Threei}  and, what doesn't kill us better start running
[11:31] {Will49} amen
[11:31] {Will49} right nemo?
[11:31] {dino} iaci sm l .74
[11:32] {dino} out iaci .34, +.60
[11:32] {dino} wow a buck too soon
01[11:32] {Threei}  Swing State Tracking: #Romney 50%, #Obama 45%
[11:34] {dino} make that 2 bucks too soon
[11:34] {dino} wow 3 bucks
[11:34] {Will49} what a spread
[11:34] {thomcbell} FB so much for prior theory
[11:38] {scottie} Any news on when it will be back to normal CC
[11:39] {dino} iaci sm l .85
[11:40] {dino} out .25, +.40
[11:44] {dino} sm l .75
[11:45] {dino} out .30,
[11:45] {dino} +.55
[11:46] {dino} asps spike
[11:48] {dino} wow asps
[11:53] {dino} nsm drop
01[11:54] {Threei} Long Setup:  FCX  .20 break
[11:54] {dino} asps crazy
[11:55] {dino} nsm sm l .00
[11:56] {dino} out nsm .34, +.34
01[11:56] {Threei}  wtg
[11:56] {dino} wow way too soon
[11:56] {nemo} l tna here worth a try
[11:56] {dino} stocks are pulp(ing) today
01[11:57] {Threei}  SPY .40 break should give some upward move
01[11:57] {Threei}  we are nearing FOMC time though
[11:57] {nemo} I'm hearing "This is the End" by the Doors
01[11:57] {Threei}  Les, welcome back
[11:57] {Les} like a bad smell...
01[11:58] {Threei}  and no, this is not a quip to nemo's "This is the End"
[11:58] {Les} screw nemo
01[11:58] {Threei}  brave entry
01[11:58] {Threei}  bunny just raised left brow
[11:59] {Les} that relationship is just plain unatural
[11:59] {dino} welcome back les
[11:59] {Les} hi dino
01[12:00] {Threei}  careful Les, that's one scaru bunny: http://goo.gl/XNbGk
[12:01] {Les} like nemo, all bark and no bite
[12:02] {Les} how was morning trades?
01[12:03] {Threei}  back and forth
[12:03] {nemo} Yeah, get within arm's reach
01[12:04] {Threei}  summary of Greece Austerity plan with Troika according to ANA in which it saw �9.2B in cuts for 2013. The Govt would cut 25,000 civil employees and raise the retirement age to 67 from 65. Greece would also reduce pensions by up to 12% and would tax all opap games.
[12:04] {Les} no thanks
[12:05] {dino} awesome les, best morning of the month
01[12:06] {Threei}  yeah, dino and cipher killed it
01[12:06] {Threei}  quotes look stable
[12:06] {Les} will check the log
[12:07] {Les} I notice cipher particularly attuned to TNA and AAPL in recent trading
01[12:07] {Threei}  he is like indiscriminate freshman that will copulate with anything that moves
01[12:08] {Threei}  I for one don't see why restrain myself that strictly
[12:08] {Will49} lol
[12:09] {dino} roflol
[12:09] {robbers} LOL!
[12:09] {Les} lol
[12:09] {dino} have to say, cipher can day trade
[12:09] {robbers} Why not, even inanimate objects.
01[12:11] {Threei} Long Setup:  SLW  .80 break
01[12:11] {Threei}  If holds  .10
01[12:11] {Threei}  .70
[12:13] {scottie} Still have problems with data, won t enter any trades at the moment
[12:13] {Will49} me too
[12:14] {Will49} Laser has me locked out of trades
01[12:14] {Threei}  looks OK here for the last 15 min or so
[12:14] {scottie} I keep changing servers every few minutes
[12:15] {Will49} think I'll watch
01[12:23] {Threei}  not much to watch really
[12:26] {dino}  back in hour or so
[12:32] {Beau} FCX still valid?
01[12:32] {Threei}  let's do hl
01[12:33] {Threei}  chart is right, time and proximity to fomc is not very encouraging
01[12:33] {Threei}  so, compromise
[12:35] {thomcbell} what is hl?
01[12:36] {Threei}  half lot
[12:36] {thomcbell} ah!
[12:44] {Les} .20/.10 was the setup?
01[12:44] {Threei}  right
01[12:50] {Threei}  come on, even 10 cents is too much to ask?
01[12:51] {Threei}  maybe we should have gone for thriple lot and 5 cents scalp, lol
01[12:52] {Threei}  or 8
01[12:52] {Threei}  you know what... I am out .28
01[12:52] {Threei}  too shaky
01[12:53] {Threei}  nemo might be right about that Dec 22 thingy, and I might be going right into lion's mouth... Kilauea went active, with lava flowing and earth shsking
[12:55] {nemo} we'll throw you in as a sacrifice
01[12:55] {Threei}  Pele will appreciate it
[12:56] {nemo} thought he played Soccer ;-)
01[12:56] {Threei}  sigh... mortals and their sports...
01[12:57] {Threei}  anyone took FCX?
[12:57] {Les} mind you, don't count on a volcanologist to give you a heads up before it erupts. Might land them in court.
01[12:57] {Threei}  right
01[12:58] {Threei}  still, Chain of Craters road is a highlight I looking forward to the most
01[12:59] {Threei}  striking memory of last trip, and lava flow of 2004 changed some things
[12:59] {Beau} took it. bailed at .26 for .05
01[12:59] {Threei}  yeah, can't blame you
[12:59] {Will49} just watched it like a good newbie
01[12:59] {Threei}  1:1
[12:59] {Beau} and the lava flow is something to see. At night, fantastic
01[13:00] {Threei}  unfortunately night viewing won't be in the cards I think
01[13:00] {Threei}  staying on Kona side, and don't wqant to remain overnight in volcano zone
01[13:01] {Threei}  but night snorkeling with manta rays should be consoling enough
[13:02] {Beau} could be if you avoid their spikes
01[13:03] {Threei}  and if not, nemo will run the show {G}
[13:03] {Beau} mixed up with sting rays
[13:15] {nemo} I think I'll be away killing things that week
01[13:19] {Threei}  looking at SLW... see inverted C&H from 11:50 to 12:43?
01[13:20] {Threei}  should have bought .65 as fade
01[13:20] {Threei}  missed opportunity
01[13:21] {Threei}  "surprise" video by Trump: http://www.youtube.com/watch?v=MgOq9pBkY0I&feature=youtu.be&hd=1
[13:23] {Les} god vad, r we suppose to listen to that...?
01[13:24] {Threei}  turn sound off
01[13:24] {Threei}  and try to read lips
[13:24] {Les} hehehe that birth certificate crap ain't finished?
01[13:24] {Threei}  that's not birth ceificate
[13:25] {thomcbell} aig trying again
[13:25] {thomcbell} setup arguably better
[13:25] {thomcbell} not doing it
[13:26] {Les} college record?
[13:26] {scottie} Watching BMY for C&H
[13:26] {Les} is he suspected KGB mole?
01[13:26] {Threei}  yes
[13:27] {scottie} Vad would you enter at .00 or .05
01[13:28] {Threei}  .00 but with SPY showing some ehtusiasm
[13:31] {scottie} Laser frozen again
[13:31] {Will49} yes
01[13:36] {Threei}  hmm
01[13:36] {Threei}  looks OK here
[13:36] {Will49} it'sa a coma da go here
[13:42] {scottie} working again, but very unstable, I still need to change quote servers from times to times, don{t wanna take any chances, will stop trading for the rest of the day
[13:42] {Les} what news FB for this liftoff?
01[13:43] {Threei}  beat earnings
[13:59] {dino} .
01[14:00] {Threei} Short Setup: FB  .50 break
01[14:00] {Threei}  If holds  .60
[14:00] {nemo} right before FOMC?
01[14:01] {Threei}  I recon it won't trigger if market reacts positively, and will work if negatively
[14:01] {dino} nsm hl l .10
01[14:01] {Threei}  reckon too
01[14:02] {Threei}  wow FCX
[14:03] {dino} ocn spike
[14:06] {dino} out nsm 30.19, +1.09
01[14:06] {Threei}  wtg
[14:06] {Will49} just to be clear...do we go s FB before announcement?
[14:06] {dino} ocn won bid over nsm for rescap
01[14:06] {Threei}  kind of depends on degree of adventurousness
01[14:07] {Threei}  small shares?
[14:07] {Will49} oh..thanks a lot:/
[14:07] {Will49} kidding Vad
[14:07] {dino} ocn hl s .97
[14:08] {dino} too soon cov .11 -.14
[14:09] {scottie} bmy would have worked :(
[14:09] {dino} ocn hl s .40
[14:10] {dino} cov ocn .00, +.40
01[14:15] {Threei}  what up market
01[14:16] {Threei}  *FOMC HOLDS FED FUNDS RATE TARGET AT 0.25% (AS EXPECTED): CONTINUE TO PURCHASE MBS AT $40/MONTH UNTIL LABOR MARKET IMPROVES SUBSTANTIALLY- Vote 11-1 (Jeffrey M. Lacker dissents; opposing additional asset purchases) - Reiterates expectation for rates to remain exceptionally low until at least 2015
01[14:17] {Threei}  nice drop
01[14:17] {Threei}  FB better follow
[14:19] {nemo} look at this shit
[14:20] {Les} wash wash wash
[14:22] {dino} nsm hl l .00
[14:23] {dino} out nsm .28, +.28
[14:23] {scottie} Doc appointment, see you all tomorrow
[14:24] {dino} cya
[14:24] {scottie} dino
[14:24] {nemo} guess that depends on what the doctor has to say
[14:24] {Will49} see ya scottie
[14:24] {nemo} nemo{=asshole
[14:24] {scottie} and how long he gives me, lol
01[14:24] {Threei}  take care scottie
[14:24] {scottie} will
[14:24] {scottie} Vad
[14:24] {Will49} don't say goodby to nemo
[14:25] {scottie} Of course not
06[14:28] * nemo takes out his Scottie voodoo doll
06[14:30] * Threei hits FB over the head with 2x4 encrusted with rusty nails and sprinkled with ricin borrowed from nemo
[14:30] {nemo} consider it a gift
01[14:30] {Threei}  ty
[14:30] {nemo} np
[14:31] {nemo} better you to have it in your possession when the cops come
01[14:31] {Threei}  as long as wife doesn't find it - temptation may prove too strong
01[14:32] {Threei}  1:1
[14:32] {nemo} to kill you, or herself to get away from you
[14:34] {dino} iaci hl l .00
01[14:37] {Threei}  1:2
[14:37] {Les} sweet
01[14:37] {Threei}  1:3, over and out
[14:38] {Will49} you had faith Vad
01[14:38] {Threei}  I knew one day I would profit from facebook... if not by using it, then by trading it
01[14:38] {Threei}  not relly, just played it by the book without much thinking
01[14:39] {Threei}  kind of let it do its thing and let chips fall as they may
[14:47] {dino} 07 red
[14:52] {nemo} mnst two way
[14:52] {nemo} break above .60 or below .50
01[14:57] {Threei}  wow, FB had more in it
[15:00] {Les} BB's 15 min indicating it was likely so
[15:00] {Les} still, beautiful waterfall earlier
01[15:00] {Threei}  "cascade"
06[15:00] * Threei slants at nemo
[15:01] {dino} iaci stop -.30
[15:02] {Les} whatever
[15:06] {Les} TNA nemo?
01[15:09] {Threei}  can I have my FB back??
01[15:09] {Threei} Short Setup: FCX  .05 break
01[15:09] {Threei}  If holds  .10
01[15:10] {Threei}  aggressive for 39
[15:12] {dino} iaci hl l .30
[15:13] {dino} stop is .14
[15:15] {dino} nsm hl l .75
01[15:16] {Threei}  ok FCX, let's cascade
[15:17] {dino} out iaci .55, +.25
[15:18] {Beau} nice
01[15:18] {Threei}  half out
[15:18] {dino} ty beau
01[15:18] {Threei}  not bad for such measly risk
[15:20] {Les} fib support .92
[15:20] {dino} out nsm .99, +.24
01[15:21] {Threei}  top to .01
[15:21] {Beau} buys a cup of coffee and maybe a donut, dino?
01[15:21] {Threei}  top = stop
[15:26] {dino} lol beau, at hl a bit more than that
[15:27] {dino} crr drop
[15:27] {Beau} ok, two donuts.
[15:27] {dino} in ne pa, a few dozen
[15:28] {Beau} lucky you
[15:29] {Les} vad, u using laser or fusion?
01[15:29] {Threei}  laser
[15:30] {Les} charles asking me
01[15:38] {Threei}  he is asking you what I use?
01[15:38] {Threei}  one of three of us needs to get sober...
[15:38] {Les} nah offering me a choice
[15:39] {Les} will try new platform
01[15:39] {Threei}  make him guess
[15:39] {Les} fusion
01[15:39] {Threei}  don't make it easy for him
[15:42] {Les} fcx at 2nd target. took a quarter at .88 on positive histogram crossover
01[15:42] {Threei} Short Setup: GLD  165 break
01[15:42] {Threei}  hl
01[15:42] {Threei}  If holds  .10
01[15:46] {Threei}  1:1
01[15:57] {Threei}  OK, not quite 1:2 but time is tunning out
01[15:57] {Threei}  out .87
[15:57] {Will49} tks Vad....interesting day:)
01[15:57] {Threei}  decent day after all
01[15:57] {Threei}  thank you all, have a good evening
01[15:57] {Threei}  see you tomorrow
[15:57] {Les} cheers much enjoyed
01[15:57] {Threei}  :)
[15:59] {dino} thx all for ideas. very good day. gn



Tuesday, October 23, 2012

Oct 23 2012

Very nice day with winner after winner after winner, of all sizes and colors. Couple small stops couldn't make a dent.

Session Time: Tue Oct 23 00:00:00 2012
01[08:58] {Threei}  guys, are charts OK for you?
[08:58] {goryl} yes
01[08:59] {Threei}  something on my end then
[08:59] {goryl} i'm on chart server 4
01[08:59] {Threei}  and quote?
[08:59] {goryl} 16
01[08:59] {Threei}  ty
[09:02] {dino} gm
01[09:03] {Threei}  dino :)
[09:04] {cipher} gm
01[09:04] {Threei}  cipher :)
[09:12] {scottie} good morning
01[09:12] {Threei}  scottie :)
[09:20] {Beau} good morning
[09:21] {ese} morning......am able to make it today
01[09:22] {Threei}  beau, ese :)
[09:23] {will49} gm
01[09:23] {Threei}  will :)
[09:27] {ese} got a chance to log on yesterday at about 11:30 and went long BTU at 28.31 and sold it just before mrkt closr at 28.98 
01[09:27] {Threei}  cool
[09:28] {ese} ya worked out perfect......1/2 the kids in the school went down to that demonstration at the legislative bldgs re the Enbridge pipeline so I had some free class time
01[09:28] {Threei}  do they understand all the implications, aside of standard talking p;oints?
01[09:28] {Threei}  never mind, I think I know the answer
01[09:29] {Threei}  want to skip first minutes today
01[09:29] {Threei}  too random
01[09:29] {Threei}  waiting for the most compelling setups
[09:29] {ese} I got the impression some did........most of the concerns for the kids are environmental
[09:29] {_1zach4} I find the first few minutes to be severely lacking in liquidity over the last 12 months
[09:29] {ese} they are very savy that way
01[09:30] {Threei}  well, if they did, they'd realize that in absence of pipeline we will have railroad delivery which they can't block (it's federal land) and which has miuch worse environmental record
[09:33] {ese} indeed.......i used to be aa engineer/brakeman for the CPR
[09:33] {ese} it put me through college
01[09:34] {Threei} Short Setup: FCX  .50 break
01[09:34] {Threei}  hl
01[09:34] {Threei}  If holds  .60 
01[09:34] {Threei}  1:1
[09:35] {robbers} out, thanks.
01[09:36] {Threei}  :)
01[09:36] {Threei} Long Setup:  SLW  .60 break
01[09:36] {Threei}  change to .55
[09:36] {dino} cnc spike
01[09:36] {Threei}  If holds  .50 
01[09:37] {Threei}  Invalidated  
01[09:37] {Threei}  FCX 1:2, out
[09:38] {scottie} got out fcx .40 tks
01[09:39] {Threei}  yw
[09:39] {dino} gj
[09:41] {ese} L btu .95
[09:41] {ese} 3/4
[09:41] {cipher} TNA L .48
[09:42] {cipher} aapl l.98
[09:42] {cipher} out 1/2 tna .68 +.20
01[09:43] {Threei} Long Setup:  LVS  .20 break
01[09:43] {Threei}  If holds  .10 
[09:43] {cipher} out 1/2 aapl +.95
[09:44] {dino} gj
[09:45] {cipher} out tna .75 +.27
01[09:45] {Threei}  wtg
01[09:45] {Threei} Short Setup: FCX  .20 break
[09:45] {cipher} ty
01[09:45] {Threei}  If holds  .30 
[09:46] {dino} brli drop
[09:46] {nemo} 38.90 is 50 day, so it's gonna' run into support near the figure
[09:46] {ese} nice one C
01[09:46] {Threei}  trail LVS to .14
[09:47] {dino} sm l .52 brli
01[09:47] {Threei}  Invalidated  FCX 
[09:47] {cipher} out rest aapl 628 +2.02
[09:47] {ese} L btu avg .01
[09:47] {dino} nice cipher
[09:48] {robbers} wtg, cipher.
[09:48] {ese} stop .94
[09:48] {cipher} tna reload .60
01[09:48] {Threei}  1:1
[09:48] {cipher} out 1/2 .80
01[09:49] {Threei} Short Setup: MOS  .20 break hl
01[09:50] {Threei}  LVS 1:2, out
[09:50] {scottie} lvs +.22 tks
[09:50] {cipher} out rest tna .89 +.29
[09:50] {thomcbell} molto bene - Vad
01[09:50] {Threei}  :)
[09:50] {dino} out brli .95, +.33
[09:50] {dino} opps, +.43 brli
01[09:50] {Threei}  MOS stop .26
01[09:50] {Threei}  nice catch dino
[09:51] {will49} tks vad LVS 1:2
01[09:51] {Threei}  :)
[09:51] {dino} ty
[09:53] {dino} veco spike? what am i missing?
[09:53] {nemo} OMFG, I mistakenly went short AAPL and made money
[09:53] {dino} hl s .47
[09:53] {nemo} I think I'm done for the day
01[09:53] {Threei}  lol
01[09:54] {Threei}  I see no news dino
[09:54] {dino} cov veco .17, +.30
[09:54] {cipher} wtg nemo
[09:54] {dino} big miss 3i
[09:54] {nemo} not the way I like to do it...I look up, I'm short 600 shares...wtf
01[09:54] {Threei} Long Setup:  BP  .70 break
01[09:55] {Threei}  If holds  .65 
[09:55] {dino} lol nemo, on aapl thats a bitch
[09:55] {ese} btu to break even .00
01[09:55] {Threei}  I mean nothing today
01[09:56] {Threei}  after yesterday's earnings
[09:57] {nemo} yeah dino...I don't think I'll have to go to the bathroom for a couple of days
01[09:57] {Threei}  change BP to .65 break
[09:57] {dino} lol
01[09:57] {Threei}  lol
01[09:57] {Threei}  and TMI
[09:57] {nemo} going to see if I have a crowbar around
[09:57] {cipher} aapl l .88
01[09:58] {Threei}  If holds  .60  of course
01[09:59] {Threei}  die already MOS
[09:59] {cipher} out aapl .24 +.36
01[09:59] {Threei}  *(US) OCT RICHMOND FED MANUFACTURING INDEX: -7 V +5E
[09:59] {nemo} God Bless ya
[10:00] {cipher} aapl l .74
01[10:00] {Threei}  Shipments -9 v 9 prior - Volume of new orders: -6 v 7 prior - Order backlog -3 v -9 prior - Number of employees: -5 v -5 prior - Wages 10 v 6 prior
[10:01] {ese} spyders didn't move
[10:01] {nemo} no, they didn't
01[10:01] {Threei}  no surprise
01[10:01] {Threei}  everyone knows there is no economy recovery to speak of
[10:01] {cipher} out 1/2 aapl .50 +.76
01[10:02] {Threei}  market movin forces are different right now
01[10:02] {Threei}  EU, election
01[10:02] {Threei}  market retreat starts accounting, at least partially, for possible Romney victory
[10:03] {cipher} out aapl in full .41 +.67
01[10:03] {Threei}  no go MOS
[10:04] {dino} kra l ave .06
01[10:05] {Threei}  National Daily Tracking: #Romney: 50%, #Obama: 46%
[10:09] {cipher} aapl l .71
01[10:09] {Threei} Short Setup: RIG  .85 break
01[10:10] {Threei}  Swing State Tracking: #Romney 50%, #Obama 45%
01[10:10] {Threei}  RIG stop .93
01[10:11] {Threei}  I don't think yesterday's debate will change anything in the trend, may only add to Romney
[10:12] {thomcbell} romney i thought did very well last night - especially if u ignore Obama's pandering style points
01[10:13] {Threei}  I thought so too... instead of attacking, he simply presented himself as viable commander-in-chief, aleviating fars that hne could be a war-mongerer
01[10:13] {Threei}  fears
01[10:13] {Threei}  stop to .91
[10:14] {dino} agree, romney won imo, obama just attacks
[10:14] {nemo} right wingers thinking obama lost is probably not a good measure
[10:14] {will49} thru the eye of beholder
[10:14] {cipher} out 1/2 aapl 628.08
[10:15] {dino} hcii drop
[10:15] {dino} hl l .73
01[10:15] {Threei}  actually they don't nemo
[10:15] {dino} he's referring to me
01[10:16] {Threei}  half out RIG
01[10:16] {Threei}  stop to .86
01[10:16] {Threei}  lol
[10:16] {nemo} we're likely to test 140, then 140.40 nest support
[10:17] {cipher} out aapl in full 628.90 +2.19
01[10:17] {Threei}  A little-known section in the Obamacare health reform law defines �full-time� work as averaging only 30 hours per week, a definition that will affect some employers who utilize part-time workers to trim the cost of complying with the Obamacare rule that says businesses with 50 or more workers must provide health insurance or pay a fine.
[10:17] {will49} paydirt
[10:18] {will49} cypher
01[10:18] {Threei}  1/4 more out RIG
01[10:18] {Threei}  stop to .81
[10:18] {robbers} out rig, thanks again.
01[10:18] {Threei}  :)
[10:18] {dino} cipher in the zone!
[10:19] {nemo} dd looks short
[10:20] {cipher} hcii l .56
[10:20] {Beau} slipped by but BP stopped
[10:20] {scottie} +.10 rig tks
[10:20] {dino} nice entry cipher, i jumped the gun on it
[10:21] {cipher} scaling out hcii .83
01[10:21] {Threei}  yw
01[10:23] {Threei}  Six scientists in Italy convicted of manslaughter for failure to predict earthquake
01[10:23] {Threei}  let's talk about those weathermen now
[10:24] {nemo} coh up against vwap
[10:24] {cipher} out hcii in full .97 +.41
[10:24] {will49} RIG 1:2 tks Vad
01[10:24] {Threei}  :)
[10:24] {robbers} nice will, wtg.
[10:24] {cipher} thx dino hcii
[10:24] {dino} np, gj
[10:25] {will49} tks robbers
01[10:25] {Threei}  1:3, out
[10:25] {will49} should woulda coulda eh?
[10:26] {robbers} Vad bragging again, lol.
[10:26] {robbers} nice trade.
01[10:26] {Threei}  formally, it's even more than that since initial stop was .92... but I wouldn't start cvovering till 10 cents so whatever
01[10:26] {Threei}  I am showing off, robbers... like that violinist, you know
[10:26] {will49} my pair are gradually growing :)
01[10:27] {Threei}  lol
01[10:27] {Threei}  hey, you have mirc now, big boy pants
01[10:27] {Threei}  wow, 1:4
[10:27] {will49} Hey Vad, mIRC is great. Why didn't you tell me about this sooner :)
01[10:27] {Threei}  rofl
01[10:28] {Threei}  I am still not sure about those ping timeouts of yours
[10:28] {will49} going to download latest version this afternoon
[10:28] {will49} CC thinks ping problem will be solved
01[10:28] {Threei}  won't hurt
01[10:29] {Threei}  mirc preserves settings, so you don't risk anything
[10:29] {cipher} vat l .40
[10:29] {cipher} cat
[10:29] {dino} out hcii .08, +.36
[10:30] {cipher} cat stopped .30 -.10
[10:31] {dino} will, downloaded it last night, piece f cake
[10:31] {dino} of
[10:31] {dino} for dji -230, my watch list is holding well
[10:34] {cipher} aapl l .23
[10:35] {cipher} kra l.94
[10:37] {scottie} ko l .70 ?
01[10:37] {Threei}  not sure
[10:37] {scottie} ok
[10:39] {cipher} tna l .98
[10:40] {will49} Vad, when I get a mIRC disconnect, do you guys see it?
01[10:40] {Threei}  yes
01[10:41] {Threei}  10:36] * will49 Quit (Ping timeout: 121 seconds)
[10:41] {will49} ok
[10:46] {cipher} out 1/2 aapl .23 +.1
[10:46] {cipher} +1.00
[10:47] {cipher} out appl in full .47 +1.24
01[10:48] {Threei}  someone stop him
[10:49] {will49} what a pain
[10:49] {will49} not you nemo
[10:51] {cipher} scaling out of tna .18 +.22
[10:52] {cipher} another 1/4 tna .24 +.26
[10:53] {cipher} tna stopped on rest .10 +.12
01[10:53] {Threei} Long Setup:  CAT  .20 break
01[10:54] {Threei}  If holds  .10 
[10:56] {cipher} tna l.15
[10:59] {cipher} in cat .16
[11:01] {cipher} out 1/2 tna .35 +.15
01[11:02] {Threei}  1:1
01[11:02] {Threei}  nailbiter
01[11:02] {Threei}  held by fingertips
01[11:02] {Threei}  but worked eventually
[11:03] {cipher} out 1/4 tna .41 +.26
[11:06] {cipher} out rest tna .22
[11:06] {robbers} cipher has an ATM machine today, congrats!
[11:06] {cipher} ty
[11:16] {nemo} coh looking iffy
[11:18] {nemo} mon might be long to a vwap run
[11:20] {dino} ddd drop
[11:22] {cipher} DDD L .81
[11:25] {cipher} scaling out ddd .05
[11:25] {nemo} mon looks short below .60, potentially long above .70...do whatever cipher does
[11:25] {scottie} trox l .30 ?
01[11:29] {Threei}  dmaaaal shares
01[11:29] {Threei}  d=s
01[11:29] {Threei}  can be jumpy
[11:34] {cipher} out ddd in full .10 +.29 thx dino
[11:34] {dino} gj
[11:34] {will49} cipher you're gonna need an armed guard with you today
01[11:36] {Threei}  luckily, we provide just that service
01[11:36] {Threei}  for a very small administrative fee
[11:36] {cipher} lol
[11:37] {nemo} MON
[11:38] {nemo} wtf...WHR
[11:39] {cipher} mon s .48
[11:39] {nemo} jpm and gs weak as hell.  Mon clear to .oo
[11:40] {dino} hstm hl l .01
[11:40] {nemo} gs clear to 116.40
[11:44] {cipher} cov mon .41 +.07
[11:45] {dino} mlnx hl l .01
[11:47] {cipher} mlnx +.18 thx dino
[11:48] {cipher} got in late
[11:48] {cipher} out .33
[11:48] {dino} gj
[11:48] {dino} out .37, +.36
[11:48] {cipher} wtg
[11:49] {dino} out hstm .38 ave +.37
[11:49] {nemo} btw..iwm low is it's 200SMA
[11:50] {dino} we having fun yet cipher, ;)
[11:54] {cipher} I certainly do, how about you?
[11:54] {dino} vhc spike
[11:55] {dino} indeed
[11:55] {thomcbell} i am looking to buy aig once a setup presents itself near its upward sloping 50sma at 34.49
[11:55] {thomcbell} this one really turned into a nice long squeeze since Thursday
[11:58] {scottie} usb l .40 ?
01[11:58] {Threei}  yes
01[11:58] {Threei}  nice looking one
[12:00] {scottie} in .41
[12:00] {scottie} stop .26
[12:01] {scottie} .34 sorry
[12:14] {cipher} vhc l .61
[12:30] {dino} mlnx sm l .32
[12:35] {cipher} mlnx l .42
[12:36] {dino} out mlnx .74, +.41
[12:37] {cipher} out 1/2 .74 +.32
[12:37] {will49} Vad...FYI; newest version of mIRC won't allow setup here for some reason
[12:38] {will49} CC will help me with it in a couple of hours so apologies for the ping messages that will follow
[12:40] {cipher} out 1/4 mlnx .89 +.46
01[12:41] {Threei}  no problem, they are not in the main window anyway
[12:41] {cipher} out rest 71.18 +.76
01[12:41] {Threei}  how does new version not allow the setup?
[12:41] {cipher} thx for heads up dino
01[12:41] {Threei}  can someone handcuff cipher?
[12:42] {dino} np
[12:42] {cipher} I'm trying to quit for the last 2 hrs...
[12:42] {nemo} mlnx
[12:42] {nemo} sorry
[12:42] {cipher} unsuccessfuly
01[12:42] {Threei}  lol
01[12:42] {Threei}  I can relate cipher... except smoking, all my vices that I tried to quit are still wioth mre
[12:43] {nemo} yeah, he calls me a friend
[12:43] {cipher} scaling out of vhc .84 +.23
[12:43] {nemo} iwm almost back to the open
01[12:44] {Threei} Long Setup:  CAT  .80 break hl
01[12:44] {Threei}  If holds  .70 
[12:48] {dino} taking kra off .20, =.13, took forever
[12:48] {cipher} stopped on remainder vhc .76 +.15
[12:49] {dino} going to take a little break
[12:49] {cipher} me too
[12:50] {dino} nice job cipher. 7 of 7 here
[12:50] {cipher} actually I'm done
[12:50] {cipher} happy Vad?
01[12:50] {Threei}  hehe
[12:50] {cipher} cya tomorrow
[12:50] {dino} cya
[12:50] {thomcbell} good job 
01[12:50] {Threei}  take care cipher, great job
[12:51] {cipher} ty
[13:03] {scottie} trox l .70 ?
01[13:03] {Threei}  probably
[13:06] {nemo} nflx .75
01[13:09] {Threei} Long Setup:  CAT  .60 break hl
01[13:09] {Threei}  If holds  .50 
[13:09] {scottie} too fast
[13:10] {will49} faster thyan a speeding bullet
[13:11] {scottie} in .62
01[13:12] {Threei}  1:1
[13:14] {scottie} trox in .72
[13:15] {scottie} cat +.18 tks Vad
01[13:16] {Threei}  :)
[13:17] {Beau} good one vad. stayed int to .90 +.28
[13:18] {Beau} thx
01[13:18] {Threei}  wtg
01[13:18] {Threei}  cakewalk today
[13:19] {scottie} out trox -.17
[13:19] {scottie} out usb -.06
[13:19] {scottie} :(
[13:20] {scottie} trox very jumpy as you mentioned earlier
[13:21] {will49} jumped me for -.19
[13:21] {will49} and I thought you were my friend scottie :)
[13:23] {scottie} So you don't wanna play with me anymore ?
[13:24] {will49} au contraire mon ami...I like your picks
[13:24] {will49} (if Vad approves them :)
[13:24] {scottie} lol
[13:25] {scottie} wow armh
[13:25] {will49} that's Venus De Milo's company
[13:26] {scottie} lol
[13:37] {scottie} trox rinse
01[13:57] {Threei}  WFC shares buyback
[14:00] {scottie} hog l 47 ?
01[14:03] {Threei}  smaaaaal shares
01[14:03] {Threei}  this thing is treacherous
[14:03] {scottie} how
01[14:04] {Threei}  pretends to be quiet for hours, then moves like anthelope that just got a shot of turpentine up its butt
[14:05] {scottie} tks
01[14:05] {Threei}  for the visual? :)
[14:08] {scottie} yark
[14:09] {will49} did you just have a sharp pain scottie?
[14:10] {scottie} missed it
[14:10] {will49} yark!
01[14:10] {Threei}  yeah, thin one
01[14:11] {Threei}  you missed the graphic description of a stock, will
01[14:11] {Threei}  14:00] {scottie} hog l 47 ?
01[14:11] {Threei}  [14:03] {Threei} smaaaaal shares
01[14:11] {Threei}  [14:03] {Threei} this thing is treacherous
01[14:11] {Threei}  [14:03] {scottie} how
01[14:11] {Threei}  [14:04] {Threei} pretends to be quiet for hours, then moves like anthelope that just got a shot of turpentine up its butt
[14:11] {will49} crap....am missing a lot with this ping thing
[14:12] {scottie} would have been good for a scalp only
[14:13] {scottie} motorcycle, scalp, image forming in my head
[14:13] {will49} lol
[14:19] {will49} I see what you mean Vad on HOG
[14:19] {will49} Vad on a HOG, now there's an image :)
[14:20] {scottie} yeah
01[14:20] {Threei}  with AK-47 barrel sticking over the shoulder
[14:20] {will49} :0
[14:43] {dino} .
01[14:46] {Threei} Short Setup: SLW  .75 break
01[14:46] {Threei}  If holds  .80 
[14:47] {scottie} not in short list
01[14:47] {Threei}  oh well
01[14:48] {Threei}  long .80 break then
[14:50] {scottie} stop ?
01[14:51] {Threei}  .72
01[14:53] {Threei}  meh
[14:56] {dino} whr on fire
[15:05] {dino} mlnx hl l .02
01[15:12] {Threei} Short Setup: GLD  .35 break hl
01[15:13] {Threei}  stop .43
01[15:15] {Threei}  want to cover half near .25 and see if we are lucky enouigh to get .20 breakdown
01[15:23] {Threei}  half out
01[15:23] {Threei}  stop to .37
01[15:23] {Threei}  come on, give us good drop for second half
[15:28] {dino} out mlnx -.17
[15:28] {dino} calling it a day. thx all
01[15:28] {Threei}  take care dino
[15:29] {dino} u2
01[15:29] {Threei}  scalpers win
01[15:34] {Threei}  do we want to try and find one last scalp?
[15:34] {will49} why not
[15:34] {scottie} go
01[15:35] {Threei} Short Setup: CAT  .65 break
01[15:35] {Threei}  hl
01[15:35] {Threei}  If holds  .75 
01[15:36] {Threei}  target 1:2
01[15:37] {Threei}  1:1
[15:37] {scottie} +.10 tks
01[15:37] {Threei}  :)
[15:37] {will49} Nice vad tks
01[15:37] {Threei}  welcome
01[15:37] {Threei}  (no "sir" lest you accuse me of wearing tux again)
[15:38] {will49} never!
[15:39] {will49} Vad...Cant' get mIRC fixed until next week so going back to Mibbit tomorow
01[15:39] {Threei}  really? new version doesn't take?
[15:39] {will49} Won
[15:40] {will49} Won't take no matter what I do
[15:40] {will49} and CC is busy for a few days
01[15:40] {Threei}  are you using router?
[15:40] {will49} Yes
01[15:40] {Threei}  can you try and plug computer directly to modem?
[15:41] {will49} It already is ahead of the router
01[15:41] {Threei}  I see some blame flaky touters for mirc timeout disconnects
[15:41] {scottie} good night, see you all tomorrow :)
01[15:42] {Threei}  take care scottie
[15:42] {will49} hmmm
[15:42] {will49} Be good scottie
[15:42] {scottie} not a chance will
01[15:42] {Threei}  lol
[15:42] {will49} :)
01[15:42] {Threei}  come here kitty
[15:42] {will49} what the hell.....
[15:43] {will49} pretty good day...see you tomorrow
01[15:43] {Threei}  see you will :)
01[15:44] {Threei}  stop to .61
01[15:48] {Threei}  ok, done
01[15:48] {Threei}  very nice day
01[15:48] {Threei}  thank you all, have a good evening
01[15:48] {Threei}  see you tomorrow
[15:49] {thomcbell} u think some people got bagged long in slw ?
[15:49] {thomcbell} oof
01[15:49] {Threei}  some usuallu are
[15:50] {thomcbell} oh dont get philoshical on me 
01[15:50] {Threei}  sorry :)
[15:50] {thomcbell} hehe
[15:50] {thomcbell} very productive day in the room guys
[15:50] {thomcbell} talk tomorrow 
01[15:50] {Threei}  :)

Monday, October 22, 2012

Oct 22 2012

Rough start with 3 rinses and one win, then a few winning trades took a sting out of the morning but still finished a bit negative by my count. Some did better depending on which of my trades they missed, lol.


Session Time: Mon Oct 22 00:00:00 2012
[09:01] {nemo} I have entered
01[09:01] {Threei}  clap clap
[09:14] {Beau} good morning
01[09:14] {Threei}  beau :)
[09:15] {scottie} good morning
01[09:16] {Threei}  scottie :)
01[09:17] {Threei}  I hope everyone got my call at 3:58 on Fri to buy CASC overnight
[09:19] {dino} gm
01[09:19] {Threei}  dino :)
[09:19] {Will49} gm
01[09:19] {Threei}  will :)
[09:20] {Will49} didn't get you call
[09:21] {Will49} your
[09:21] {scottie} would have been great :)
01[09:23] {Threei}  [15:58] {Threei} ATTENTION: sell your farm, your kidney, wife and kids - and buy CASC for over-weekend hold with all you've got
[09:24] {thomcbell} fcx down on earnings
01[09:25] {Threei}  lowered guidance
01[09:25] {Threei}  earnings OK, revenue down
[09:26] {Beau} no got.  still have farm
[09:29] {cipher} gm
01[09:29] {Threei}  cipher :)
01[09:30] {Threei} Short Setup: FCX  .15 break hl
01[09:30] {Threei}  If holds  .25 
01[09:30] {Threei}  no go
01[09:33] {Threei} Short Setup: SLW  .40 break
01[09:33] {Threei}  If holds  .50 
01[09:34] {Threei}  change to .50 break
01[09:34] {Threei}  If holds  .55 
01[09:34] {Threei}  Invalidated  
01[09:35] {Threei} Short Setup: SBUX  .40
01[09:35] {Threei}  If holds  .50 
01[09:37] {Threei}  grr
01[09:37] {Threei} Short Setup: LVS  .20 break
01[09:38] {Threei}  If holds  .30 
01[09:38] {Threei}  SBUX rinse
01[09:39] {Threei}  let's trail LVS to .26
01[09:39] {Threei}  should be dropping faster with this SPY drop
[09:40] {thomcbell} fcx definitely has some fight 
01[09:40] {Threei}  not liking this morning
01[09:44] {Threei}  another rinse
[09:44] {thomcbell} short setup slw - 39.70 break if holding 39.80
01[09:45] {Threei} Long Setup:  BTU  29 break hl
01[09:46] {Threei}  If holds  .90 
01[09:46] {Threei}  1:1
01[09:46] {Threei}  1:2, out
[09:46] {scottie} of course, missed that one
[09:46] {scottie} :(
[09:46] {Will49} me too
01[09:48] {Threei} Long Setup:  CAT  .50 break hl
01[09:48] {Threei}  If holds  .40 
01[09:49] {Threei}  target 1:3
01[09:49] {Threei}  come on
01[09:49] {Threei}  what the deuce
[09:50] {scottie} rinse festival this morning
01[09:51] {Threei}  no kidding, third one
01[09:51] {Threei}  1:4
[09:52] {Will49} humbling
[09:52] {thomcbell} good one Vad
[09:52] {thomcbell} fcx a beast no w
[09:53] {nemo} so cat was bought right back up
01[09:58] {Threei} Long Setup:  LVS  45 break
01[09:58] {Threei}  If holds  .90 
01[09:59] {Threei}  1:1
01[10:00] {Threei}  1:2, out
[10:00] {scottie} finally, +.19 tks Vad :)
01[10:00] {Threei}  :)
[10:00] {Will49} tks Vad...good one
[10:00] {robbers} out, thanks.
01[10:01] {Threei}  welcome
01[10:02] {Threei}  nothing like 3 rinses in a row
[10:02] {nemo} guess earnings were priced into cat
[10:03] {nemo} o.k. c u l8tr
[10:03] {thomcbell} they did a good job of managing the street 
01[10:04] {Threei}  break a leg nemo
01[10:04] {Threei}  wow BTU
01[10:08] {Threei} Short Setup: FCX  .10 break hal
01[10:08] {Threei}  hl
01[10:08] {Threei}  If holds  .20 
01[10:09] {Threei}  target 1:3
01[10:10] {Threei}  1:1
[10:11] {thomcbell} thing is amazingly jumpy 
01[10:16] {Threei}  1:2
[10:16] {robbers} out, thanks again.
01[10:16] {Threei}  :)
[10:16] {robbers} Nice recovery, Vad, from a slow start.
01[10:16] {Threei}  held .10 trail twice perfectly
01[10:17] {Threei}  need couple more like this to return to my normal state of wistling thoughtlessly
01[10:18] {Threei}  1:3 target hit, out
01[10:18] {Threei}  whew
01[10:18] {Threei}  took its sweet time but worked like charm
[10:19] {Will49} tks Vad 
01[10:19] {Threei}  welcome sir
[10:20] {Will49} ooooh..so formal:)
[10:20] {scottie} sti s .60 ?
01[10:20] {Threei}  I think so
01[10:20] {Threei}  let me take my tux off will...
01[10:21] {Threei}  where is my trading tutu...
[10:21] {Will49} lol
[10:23] {scottie} too fast
[10:24] {scottie} What's the technical word for it ? , oh yes... grrrr
01[10:24] {Threei}  right
01[10:29] {Threei}  good spot anyway
01[10:29] {Threei} Long Setup:  CAT  85 br\eak
01[10:29] {Threei}  hl
01[10:30] {Threei}  Invalidated  
[10:32] {scottie} asml l .65 if holds .55 ?
01[10:33] {Threei}  .60 rather
[10:35] {scottie} in .60
[10:36] {scottie} stop .52
[10:39] {scottie} out
[10:52] {scottie} bbt s .45 ?
01[10:53] {Threei}  a bit too narrow...
[10:53] {scottie} tks
01[10:53] {Threei}  chart is right, just not sure about potential
[10:56] {scottie} asml, another rinse
[10:57] {scottie} will give a try, bbt in .44
[10:58] {scottie} stop .56
01[11:02] {Threei} Long Setup:  CAT  .50 break hl
01[11:03] {Threei}  If holds  .40 
01[11:03] {Threei}  target 1:2
01[11:03] {Threei}  1:1
01[11:04] {Threei}  1:2, out
[11:04] {scottie} missed again
01[11:04] {Threei}  OK... one win left till I feel good about today
01[11:05] {Threei}  wow, how? it returnined to pick up late passengers
[11:05] {Will49} I missed too
[11:05] {scottie} misread you and was waiting for .60, when I realized, was too late :(
[11:06] {Will49} I reall have to get onto MIRC
[11:06] {Will49} Was already .08 above break when it hit my screen
[11:06] {scottie} msft inverse H&S l .20 ?
01[11:07] {Threei}  for a scalp, yes
01[11:07] {Threei}  Will... you still on mibbit?
[11:07] {Will49} yeah
[11:11] {goryl} Vad, is ur first trade of the day always a hl?
01[11:11] {Threei}  most often
01[11:11] {Threei}  opening volatility
[11:12] {_1zach4} at 1:1 do you typically take 1/2 off, move your stop to b/e or both?
01[11:12] {Threei}  both
01[11:12] {Threei}  http://www.realitytrader.com/tradingroom/#instructions
[11:13] {_1zach4} thx Vad
01[11:14] {Threei}  sure
[11:18] {_1zach4} I tried MIRC, but every time I join #discussions and #floor it says I am banned 
[11:19] {Will49} Have followed the instructions perfectly half dozen times and can't get in
[11:19] {goryl} I need to regroup.. I've been scalping since the beginning of the month with with 100 shares and i'm trending in the wrong direction:)
01[11:20] {Threei}  zach, it's wrong username or password then... if you connect via mibbit, same credentials will work with mirc
01[11:20] {Threei}  goryl... meaning, taking 1:1 every time?
[11:20] {goryl} yeah
01[11:21] {Threei}  well, many trades are aimed at bigger moves...
[11:21] {_1zach4} yeah just tried again, says address is banned when I try to join #discussions
[11:21] {goryl} but i don't do hl since the limit is 100 so i might have to bump it up to 200 shares and take hl
01[11:21] {Threei}  cutting them down prematurely will influence your performance negatively
01[11:21] {Threei}  right
01[11:22] {Threei}  I removed ban manually, zachm, try again
01[11:22] {Threei}  make sure password is correct
[11:22] {_1zach4} ahh thank you
[11:23] {dino} lulu hl l .35
01[11:23] {Threei}  wrong password
[11:23] {_1zach4} yeah need to fix that, but now i'm on MIRC
01[11:24] {Threei}  will... let's try it via backdoor
[11:24] {Will49} let's wait until noon lull
[11:24] {scottie} want us to leave you alone ?
01[11:24] {Threei}  I will gather correctly configured files for mirc and send them to you
[11:25] {dino} lol
01[11:25] {Threei}  so you just put them in mirc directory
[11:25] {Will49} tks
[11:29] {goryl} Vad, on a down days where i get 3 stops in a row, i would reduce my following trades to hl.  On plus days, after i get 3 wins, i continue playing but with hl.  Good strategy?
01[11:29] {Threei}  firast part yes
01[11:29] {Threei}  second, why?
01[11:29] {Threei}  continue until your winning streak is interrupted
01[11:30] {Threei}  then slow down
[11:30] {goryl} ok, makes sense:)
[11:31] {goryl} i think too much about not losing:) and reduce my profit on winning days
[11:31] {Will49} my issue also goryl
[11:42] {dino} ot lulu .87, +.52
01[11:42] {Threei}  wtg
[11:42] {dino} ty
01[11:42] {Threei}  Indices Flatline in Listless, Low-Volume Trading
01[11:42] {Threei}  - US trading has been a bit choppy this morning as volumes remain below average and the VIX index heads higher. Caterpillar's downbeat quarterly report put some pressure on US indices this morning, although shares of CAT are back in positive territory in midmorning trade. Note that the VIX popped out to its highest level in more than six weeks.
[11:55] {dino} elli going for gap?
[11:56] {dino} ioc hl l .99
01[11:56] {Threei}  looks like
01[11:56] {Threei}  will, check e-mail pls
[11:56] {Will49} got it tks Vad
01[11:58] {Threei}  let's see if it works this way
01[11:58] {Threei}  we may have different ersions of mirc but that shouldn't be a problem, easy to correct
[12:00] {dino} elli hl l .83
[12:05] {dino} out ioc .95 -.04
[12:08] {dino} bbt l .51
01[12:08] {Threei} Long Setup:  GM  .50 break
01[12:08] {Threei}  If holds  .45 
01[12:08] {Threei}  just a scalp
[12:09] {dino} ioc sm l .73
[12:16] {dino} out elli .11, +.27
[12:18] {dino} half out ioc .17, +.44
[12:22] {dino} out remaining ioc .14
01[12:25] {Threei} Long Setup:  CAT  .15 break hl
01[12:25] {Threei}  If holds  85 
01[12:26] {Threei}  nope
[12:26] {dino} back in hour or so, hard stop on bbt at .39
01[12:31] {Threei}  how did it go will?
[12:31] {Will49} Sent you an email
[12:32] {Will49} I think I need one of those rent-a-nerds to do it for me:)
01[12:36] {Threei}  replied
[12:52] {scottie} cstr s .05 aggressive for 43 break ?
01[12:52] {Threei}  yikes, spread
[12:53] {scottie} I see it, ok
[13:00] {scottie} spread better, in .04
01[13:00] {Threei}  ummm
01[13:00] {Threei}  better? :)
01[13:00] {Threei}  it's very jumpy
[13:00] {scottie} was at that time, lol
01[13:07] {Threei}  will is almost there
01[13:08] {Threei}  Who Will Win? 51% Say #Obama, 39% #Romney
[13:10] {scottie} Half out
[13:12] {Will49} I'm back on Mibbit:(
01[13:13] {Threei}  you connect with incorrect password
01[13:13] {Threei}  so it kicks you out
[13:13] {Will49} same password I use for mibbit
01[13:13] {Threei}  unlikre previous attemots, this time it takes you to the right server,
[13:14] {Will49} yes
01[13:14] {Threei}  and kicks out upon attempot to connects
01[13:14] {Threei}  to connect
[13:14] {Will49} yes
01[13:14] {Threei}  that happens only with incorrect username or password
01[13:14] {Threei}  now, notive that it says "banned"
[13:14] {Will49} yes
01[13:14] {Threei}  that hapopens when you connect, get kicked out, and try to connect again right away
01[13:15] {Threei}  there is time interval for a sefrver to clear ban after first unsuccessful atempt
01[13:15] {Threei}  about 1-2 min
01[13:15] {Threei}  so even if you correct the password, it won't let you in if you do it right away
[13:16] {Will49} I waited longer than that between attempts
01[13:16] {Threei}  try this:
01[13:17] {Threei}  after it kicks you out, do NOT close mirc, wait couple min,
01[13:17] {Threei}  then type in the lower lime /login
01[13:17] {Threei}  it will offer you a prompt for username and password again
01[13:17] {Threei}  enter both
01[13:17] {Threei}  make sure no caps lock is on etc
[13:20] {Will49} Ok one more once and then into the "too hard" box it goes:)
[13:23] {cc_8} if will is using irc did he put the required command line in /perform?
01[13:24] {Threei}  he is trying to connect right channels, so I'd think yes
01[13:26] {Threei}  well?
[13:26] {cc_8} will did you put the password command in your perform area of irc?
[13:26] {Will49} When I typed in "login" said I'm not on a channel
01[13:27] {Threei}  did you type login or /login?
[13:27] {Will49} just login
01[13:27] {Threei}  :)
01[13:27] {Threei}  slash is command
01[13:27] {Threei}  without slash it's kust blabbering :)
[13:27] {Will49} thought /login was one of you fat finger slips
01[13:27] {Threei}  nope
[13:27] {Will49} :)
[13:28] {Will49} ok my bad
[13:28] {Will49} trying again
[13:30] {robbers} Will, if it makes you feel any better, I had a hard time getting it set up, too.  But it's worth it.
01[13:30] {Threei}  he is not here
01[13:30] {Threei}  he is in syberspace
[13:30] {scottie} cstr out in full + .19
01[13:30] {Threei}  trying to blast his way in
01[13:31] {Threei}  wtg
[13:31] {robbers} nice, scottie.
[13:31] {scottie} ty
[13:34] {Will49} Same old same old
01[13:34] {Threei}  ?
[13:34] {Will49} #discussions unable to join channel (address is banned)
01[13:35] {Threei}  I don't get it
[13:35] {Will49} and; local host: unknown (96.54.162.123)
[13:35] {dino} .
[13:35] {robbers} Will, I had a hard time, too, keep trying, you'll get it.
[13:35] {Will49} Well, I don't get it either so let's just go on with Mibbit
[13:36] {Will49} hanks for the support everybody
[13:36] {Will49} thanks
[13:39] {cc_8} wil
[13:39] {cc_8} will
[13:39] {cc_8} if you want me to remote in and assit
[13:39] {cc_8} i can
[13:40] {Will49} Thanks CC but I don't want to screw around with this at the expense of missing Vad's alerts
[13:41] {Will49} Can we do it tomorrow during the noon lull?
01[13:41] {Threei}  what do we have now?? :)
[13:55] {scottie} ge forming inverse C&H ?
[13:57] {will49} sup
01[13:57] {Threei}  hmmm
01[13:57] {Threei}  GE could be... slow
01[13:58] {Threei}  how many wills do we have now and who is real one?
[13:58] {will49} quit
01[13:59] {Threei}  is it will or clone?
[13:59] {will49} its will
[13:59] {will49} im fixing it
[13:59] {will49} cc_8 reporting out
01[14:00] {Threei}  anyone else is confused or it's just me?
[14:01] {cc_8} hi will
[14:01] {cc_8} you made it
[14:01] {cc_8} now everything is thru irc
01[14:01] {Threei}  WOOOHOOOO
01[14:01] {Threei}  big round of applause for cc_8
01[14:02] {Threei}  what was the problem?
01[14:06] {Threei}  GE is trying to trigger
[14:07] {scottie} in aggressive at .26
[14:07] {scottie} low of day
[14:07] {scottie} stop .36
01[14:09] {Threei} Long Setup:  TEST 
01[14:09] {Threei} Short Setup: TEST 
01[14:20] {Threei} Short Setup: TEST 
[14:22] {robbers} I'm plus 3 on the tests.
01[14:22] {Threei}  wtg
[14:24] {cc_8} Setup
[14:24] {cc_8} setup
[14:24] {cc_8} SETUP
[14:24] {dino} ioc sm l .70
[14:25] {scottie} I set up mirc to play big ben chimes everytime the word setip prints. You guys will drive me crazy, lol
[14:25] {will49} sorry
[14:25] {will49} i want the same 
[14:26] {dino} \ceb hl l .33
[14:26] {will49} setup
[14:26] {scottie} damn
01[14:26] {Threei}  lol
[14:26] {will49} cooly
[14:27] {cc_8} cooly
[14:27] {cc_8} cooly
[14:27] {cc_8} cooly
[14:27] {will49} cooly
[14:28] {cc_8} cooly
[14:28] {cc_8} last test
[14:28] {cc_8} Setup
[14:29] {scottie} yeah, great :)
[14:29] {cc_8} works good
[14:29] {cc_8} thanks
[14:29] {scottie} works fine tks
[14:30] {will49} Thaks for putting up with all this you guys
[14:30] {will49} and special thanks to CC for his patience
[14:31] {cc_8} np
01[14:31] {Threei}  you wanted geek squad to help :)
[14:31] {will49} got ot in spades
[14:31] {will49} it
[14:33] {dino} out ceb .73, +.40
01[14:33] {Threei} Long Setup:  CAT  .60 reak
01[14:33] {Threei}  If holds  .45 
01[14:34] {Threei}  come on, not another rinse
01[14:36] {Threei}  sigh
[14:38] {scottie} Vad, what was the setup on CAT ?
01[14:40] {Threei}  trend continuation
01[14:40] {Threei}  followed SPY, but SPY changed its mind and reversed
[14:41] {scottie} tks
[14:49] {scottie} ncr l .50 ?
01[14:50] {Threei}  or .40 short... market-dependent
[14:50] {scottie} tks
[14:53] {scottie} in .38
01[14:59] {Threei}  looks good
01[15:00] {Threei}  looks better
[15:00] {scottie} almost got to 1:1
01[15:06] {Threei}  MNST, what a beating
01[15:07] {Threei}  dino, looked at it any?
[15:08] {scottie} ge stopped
[15:09] {dino} mcy drop
[15:09] {dino} sm l .06
[15:10] {scottie} half out ncr
[15:10] {scottie} stop .41
01[15:11] {Threei}  looks beautiful
[15:11] {will49} Is it usual that mIRC disconnects and reconnects automatically?call
01[15:11] {Threei}  no
01[15:11] {Threei}  it shouldn't
[15:11] {will49} Mines doing it every ten minutes
01[15:11] {Threei}  it's ping timeout
01[15:12] {Threei}  not sure if there is a setting somewhere to prevent it
01[15:12] {Threei}  mine never does it
[15:12] {thomcbell} doesnt happen to me either
[15:12] {will49} CC?
[15:14] {dino} never happens to me
[15:14] {cc_8} hi
[15:14] {cc_8} let me check
[15:14] {cc_8} get back on teamview will
[15:15] {scottie} bc s .80 ?
01[15:16] {Threei}  market bounces right now
01[15:16] {Threei}  if BC stays close to low, yes when market reverses
[15:16] {scottie} ok
[15:17] {will49} OK CC on Teamviewer
[15:18] {Beau} dino, what triggered your mcy l? 1st green bar?
[15:19] {will49} CC  id 506808397 pw:1848
[15:21] {will49} CC..let's do this after close
01[15:21] {Threei} Long Setup:  LVS  .85 break
01[15:21] {Threei}  If holds  .80 
[15:21] {scottie} in bc .79
01[15:21] {Threei}  aggressive for .90
[15:23] {cc_8} trade first will
[15:24] {cc_8} tell me when ur ready
[15:27] {dino} beau, 2nd drop higher low
[15:27] {Beau} vol come into it?
[15:28] {dino} not really as the drop was the volume
[15:28] {Beau} gottcha and thx
01[15:28] {Threei}  push LVS
[15:29] {thomcbell} wheres the 2x4 Vad
01[15:30] {Threei}  here ir comes
[15:31] {thomcbell} now nice cup and handle 
01[15:32] {Threei}  just a little help by SPY and it has to iksplode
01[15:35] {Threei}  half out
[15:36] {thomcbell} nice one - thanks Vad 
01[15:36] {Threei}  not bad for 5 cents risk
[15:36] {thomcbell} i have to run - see u guys tomorrow
01[15:36] {Threei}  3 lots
01[15:36] {Threei}  take vcare tbell
01[15:36] {Threei}  out in full
01[15:40] {Threei}  a bit too soon
01[15:40] {Threei} Short Setup: FCX  .35 break\
01[15:40] {Threei}  If holds  .40 
01[15:41] {Threei}  only these 5 cent risk plays this close to eod
[15:42] {will49} tks Vad 1:2
01[15:43] {Threei}  on LVS?
[15:43] {will49} yes
01[15:43] {Threei}  :)
01[15:43] {Threei}  you should be getting alerts in time now
01[15:43] {Threei}  somehow it feels like your mibbit qwas slower than most
[15:43] {will49} yes, much better with sound alert
[15:44] {will49} Let's hope it was mibbit and not me
01[15:44] {Threei}  well, as excuses re being eliminated, pressure grows :)
[15:45] {will49} :)
[15:45] {will49} CC ...still kicking in and out
[15:45] {dino} out ioc .94, +.24
01[15:45] {Threei}  will49 Quit (Ping timeout: 121 seconds)
01[15:46] {Threei}  yeah
[15:46] {dino} out mcy .30, +.24
01[15:46] {Threei}  nice
[15:47] {dino} ty
[15:47] {dino} calling it a day. thx all
01[15:47] {Threei}  take care dino
[15:47] {Beau} thanks for explaination dino
01[15:48] {Threei}  wins after the morning start took most of the sting out but still finishing a bit negative
[15:48] {dino} anytime beau.
[15:53] {will49} Tks vad, nice positive day for me
01[15:53] {Threei}  cool
01[15:53] {Threei}  you must have missed some of my losers :)
[15:53] {will49} Maybe I missed the losses while playing with mIRC :)
01[15:54] {Threei}  no, they occured in the morning mostly
01[15:54] {Threei}  thank you all, we will get them tomorrow
[15:54] {scottie} gn all
[15:54] {will49} See you boys

Saturday, October 20, 2012

Nemo's Findings week of 10/21/2012

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

The week that was:

10/16/2012:



Well, we got the bounce I thought we would from yesterday's post.  Retail sales up strong signaling a strong consumer.  Manufacturing down. Market bought the consumer news and ignored the bad manufacturing.  






The market opened higher, sold off to support then moved significantly higher, retracing initial gains to fib levels and then ran to close pretty much at the highs for the day.  Looks like more to go tomorrow.  Downward trend lines in IWM and SPY still intact on the daily.  IWM finished at the Weekly Pivot point  SPY the proverbial "hair" above the Monthly Pivot.  Earnings earnestly embark this week (o.k. that perhaps was a stretch), so we'll begin to get a feel for performance and outlook.  The rubber is about to hit the road.  I do think, with a few pullbacks here and there, the long-term looks up in general, but let's see what Congress does the first of the year.


10/17/2012 :


Goldman blows away there numbers end up down.  Economic news is mixed with inflation showing up (ex that stuff like food and oil that doesn't count).  thinking this is just a technical move until the decisions on the results of earnings forge a market direction, which I think will be up.  Having said that...  Intel, IBM, an CSX reported after the close, and they were tepid in their results, so the question will be how they trade tomorrow.  We're still early in the earnings season, so, if they BTFD! if there is a dip, all systems go...


 

As we can see, biggest percentage gain was in the SPY that basically bounced off WR1 to finish near the highs.  The Qs met resistance at the WR1 as did the IWM, with financials taking up the rear(looks big, but that's FAS. The unleveraged IYF was up .66%-nothin' to shake a stick at mind you)  

I think stop hunting above 146 is in order for tomorrow. 

 

10/18/2012:

Eco news:


Some bad news on the jobs front, but good news on the manufacturing front keeps the majority of the indexes flat for the day, except for the GOOG oops that caused the Qs to drop to the Weekly Pivot.  Primarily range bound activity absorbing this weeks up move so far.



 

10/19/2012: 


Eco news:

Housing came in stronger than expected, but the pall of the GOOG earnings cast a long shadow over the market.  Albeit, most of the poor performance was due to the Motorola division, it looks like GOOGs ad revenue growth rate is starting to slow.  Add that to the hiccup in earnings for many of the belleweather stocks so far, all eyes look to AAPL next week, which looks destined to reach $600 fairly shortly.

As we can see demarcated support levels supported the drop today, which would make sense.  Shorts were covering, although not exceptionally strongly, at the end of the day.  Remember OP EX week, so nothing is at it seems. 

On the dailies:
The Qs, of which AAPL is 13% are headed for the 200SMA at 65ish.  just above that around 65.35 is fib confluence as well as price action support

IWM bottomed at significant Fib confluence today, but could have the 200SMA in it's sights in  the 80.40ish area.


SPY is just below the 50SMA with next major support at 142.20

The financials haven't even broken the upward trend line yet, although they could do that Monday


The week that is:

The 200 is coming up around 80.45, which corresponds to the August breakout level. below that there is no gap until the 77.65 level, which is also a volume vacuum.   We now have some significant overhead volume between 83.55 (the top of the Friday gap) and 83.75ish.


The Qs are coming into 65.25 support, which is also a gap area down to volume support at the bottom of the gap around 64.40.  One could expect a bounce here, but the tell is aapl earnings.  There is also Fib confluence at the 65.40 area.  The 200 sma is at 64.96 with the 50 overhead at 68.40


SPY looks like it will be testing the lows from October, then possibly trend support currently around 142.  Gap low of 141 is next with volume support in the 140.40 area.  Overhead volume resistance in the 144.30 area with a descending trend line around 146.40. 

 

Nothing looks bounce ready.  As I said, financials haven't even broken their upward trend line yet.  However bonds do look stronger in all durations, which is normally negative for equities. The only sector that looks strong, is gold miners.

Friday, October 19, 2012

Market Week Wrap-up

TradeTheNews.com Weekly Market Update: Focus Shifts from Euro Crisis to Fiscal Cliff


- Earnings season dominated US markets this week as investors digested results from rest of the big banks and some weak numbers out of the tech sector. A constant theme heard from corporate executives was gloom about the possibility the US could go over the fiscal cliff as Washington continues to twiddle its thumbs before the election, with negative psychological implications for the struggling economic recovery. Meanwhile the situation in Europe appears to have calmed further this week, despite no new breakthroughs. Leaders gathered in Brussels for the European summit agreed on a very basic outline for establishing a euro zone banking supervisor. As previously framed, the plan puts the supervisor under the auspices of the ECB and assumes a legal framework will be in place by the end of 2012, and leaders agreed that the ambitious start date should be pushed farther back into 2013, though many other questions about the bank union remain unanswered. The big headline on the continent this week came from Moody's, which affirmed Spain's sovereign rating at Baa3, the lowest level of investment grade. Many market watchers had expected Moody's to cut Spain to junk status, but the rating's firm rationale for affirming the sovereign rating was the impact of the extraordinary EMU and ECB support mechanisms being put in place. Yields on Spanish government debt fell to seven-month lows following Moody's announcement and yields on the debt of other crisis countries contracted as well. In the US, September data showed retail sales advanced for the third consecutive month and existing home sales kept up, with the slight decline from the two-year highs in August, numbers explained as resulting from tight home supplies, not a lack of buyer interest. Gold racked up a two-percent decline this week, its biggest weekly drop in nearly four months, driven in part by some late-week dollar strength and equity market weakness. For the week the DJIA eked out a 0.1% gain, the S&P500 rose 0.3%, but the Nasdaq fell 1.3%, as the tech heavy index fell for the fourth week in the past five.

- Data out this week helped remove some of the uncertainty related to the China economic slowdown, offering a less bleak picture of the so-called managed landing. China's Q3 GDP did in fact fall to a fresh 3.5-year low at 7.4% - in line with consensus - but subsequent commentary reinforced perceptions of Q4 tracking stronger. On the flip side, September industrial production rose for the first time in four months while retail sales growth was a full point above expectations at 14.2%. The National Bureau of Stats (NBS) said growth stabilized and reiterated its 7.5% GDP objective for this year. An NBS spokesperson noted that upward CPI pressures still exist and highlighted easing actions by Western central banks. This latest set of comments and economic data will increasingly bolster expectations of PBoC on hold for a more extended period; it last moved the RRR in May and hasn't touched one-year rates since July.

- Goldman Sachs' Q3 was excellent: revenue doubled y/y and the firm saw good growth in the investment banking business. Citigroup, Bank of America and Morgan Stanley all reported decent results that were substantially aided by DVA (debit value adjustments) adjustments. But good headline numbers concealed more mixed details. BoA's and revenue contracted from levels seen a year ago, and executives warned buybacks of bad loans from private investors and the GSEs could cost another $6 billion above current reserves. Morgan Stanley lost money before their big $2.3B DVA adjustment, although its trading and investment banking businesses are seeing strong growth. Citi did well on an operating basis, although this excluded a $4.7B write-down of the value of the stake in Morgan Stanley Smith Barney brokerage joint venture sold to MS in September. The big story for Citi was the surprise announcement on Tuesday, the day after earnings, that CEO Pandit would step down immediately. Reports suggest that Pandit's departure was due to disagreements with board members regarding strategy and performance measures.

- Quarterly reports from IBM, Google, and Microsoft were a major source of weakness. IBM's headline numbers were roughly in line with expectations, however there were concerns about its software and its tech services revenue being down on a y/y basis. Microsoft's profits fell more than 20% on a y/y basis and revenue was challenged as PC (and Windows OS) sales fall. Shares of Google fell approximately 10% after the firm's accidental early release showed profits falling sharply on a y/y basis, missing expectations widely. Executives blamed the softness on the lower rates the firm is getting for mobile ads. The quarterly results were bad enough to entice CEO Larry Page, with a weak and raspy voice, to join the conference call for the first time since this spring when he lost his voice to an unspecified ailment. Intel warned that it is seeing softness in both business and consumer markets. On the bright side, flash memory powerhouse Sandisk comfortably beat expectations, on outstanding smartphone/tablet demand and some initial recovery in NAND prices.

- Telecom giant Verizon saw a solid increase in profits in its Q3, although they were only just in line with expectations. Following the switch to multi-device data connections and a rise in rates back in June, Verizon Wireless now reports average revenue per account (ARPA) instead of average revenue per user (ARPU); the new APRA figure saw a nice boost for the firm. Net adds were solid. Third quarter smartphone sales included 3.4M Android devices and 3.1M iPhones, 21% of which were iPhone 5s.

- General Electric's profits were right in line, although revenue missed and the tone of executives was hesitant. Notably GE cut its revenue growth outlook for the full year to +3% from +5%. CEO Immelt said business in FY13 business would like be a lot like it was in FY12, and that no big improvement was expected in the world economy. Honeywell's profits were solid although revenue missed expectations and barely grew y/y. North America-centric oil services firm Baker Hughes missed both top- and bottom-line expectations thanks to the continuing slowdown in drilling activity, while the more internationally-oriented Schlumberger managed to top expectations helped by strong demand overseas.

- Shares of McDonalds fell after the firm reported disappointing earnings. The company also warned that October's comps are currently trending negative, boding ill for Q4. Coca-Cola had a good quarter whereas Pepsi's revenue fell 5% on a y/y basis, an outcome attributed to the ongoing restructuring process that led to unprofitable businesses being shut down. Earnings were good, and the firm reiterated its FY12 outlook.

- Japan's Softbank reached a deal to buy 70% of Sprint Nextel for $20B. The merger unites two firms that are the third biggest mobile carriers in their respective markets, in a deal that would be the largest ever foreign acquisition by a Japanese company. In the wake of the deal, there have been reports that Sprint will acquire a majority position in Clearwire, if not take out the entire company. In the oil patch, Exxon said it had a deal to acquire Canadian oil and gas company Celtic Exploration for $2.6B, helping it to grow its output and expand its asset base in western Canada. Exxon will pay C$24.50 for each share of Celtic, a 35% premium to Celtic's prior closing price. The deal is being compared to CNOOC's $15B bid for Nexen and Malaysian state oil company Petronas' $5.0B deal for Progress Energy.

- The decent Chinese data and a more positive tone in Europe drove funds out of safe-havens and kept the dollar and the yen on the back foot. A few pieces of encouraging US economic data complimented China. There were continuing reports that Spain would make a formal aid request in November to coincide with a revised Greek program and a Cyprus aid package. The aid looks like it will arrive in the form of a precautionary credit line, though Spanish officials are remaining cagy about their intentions. Moody's decision to keep Spain's sovereign rating at investment grade aided the euro. EUR/USD came into the week around 1.2910 and rose as high as 1.3140 in the wake of Moody's action on Spain. The pair slumped in the second half of the week as European officials quarreled at the Euro summit over the shape of the banking union. M&A flows from the Softbank/Sprint deal helped push USD/JPY higher all week, with the pair moving from 78.40 to around 79.40. Mitt Romney reiterated his pledged to name China as a currency manipulator if he won the election, pushing CNY to fresh post-2005 revaluation highs against the USD, with USD/CNY trading below the 6.2450 level.



TradeTheNews