Nov 19 2012

Gap and grind up... grrr. Fixed the early stops largely in the second half of the day, with two winning trades at the finish taking it to about breakeven.

Session Time: Mon Nov 19 00:00:00 2012
[09:01] {nemo} I hate these days, not to mention it's a Monday
01[09:01] {Threei}  "these"?
[09:02] {nemo} gap up...although I did say last week was the bottom
[09:02] {nemo} Unfortunately, I don't get paid for that
01[09:02] {Threei}  I am not sure it was "the" bottom
01[09:02] {Threei}  so far it's a bounce
[09:02] {nemo} Well, the world ends in a month, so if you're talking absolutes...
[09:03] {nemo} I think I said swing low
[09:03] {nemo} what is all the happiness about anyway?
01[09:04] {Threei}  mostly noise about happy resolution to fiscal cliff
[09:08] {scottie} good morning
01[09:08] {Threei}  scottie :)
[09:08] {dino} gm
01[09:08] {Threei}  dino :)
[09:12] {Beau} good morning
01[09:12] {Threei}  beau :)
[09:12] {ese} morning......am L premarket btu .31
[09:12] {ese} 1/2
01[09:12] {Threei}  ese :)
[09:13] {ese} morning vad
01[09:17] {Threei}  your power's OK ese?
[09:18] {nemo} wow, no Les...ooops probably just jinxed it
[09:18] {Will49} gm
01[09:18] {Threei}  will :)
[09:18] {Will49} got emails yesterday
01[09:18] {Threei}  yup
01[09:19] {Threei}  that's resolved
01[09:20] {Threei}  42% Willing To Pay More in #Taxes to Balance #Budget If Real Spending Cuts Are Made
01[09:20] {Threei}  are those 42% fully from those 49% that pay no taxes whatsoever?
01[09:21] {Threei}  so they don't mind doubling that?
[09:21] {ese} hey vad........yes........no power out here.......you?
01[09:21] {Threei}  had some flickering through the nihgt, but so far so good
[09:21] {ese} serious wind last night
01[09:21] {Threei}  yeah
[09:22] {Will49} fine here at clover point
01[09:22] {Threei}  took out the cover from my smoker
01[09:22] {Threei}  but I will rebuild
01[09:22] {Threei}  overall, about 15K customers lost power
[09:23] {Les} morning
[09:23] {Les} or afternoon
01[09:23] {Threei}  kes :)
01[09:23] {Threei}  les
01[09:23] {Threei}  grr
[09:23] {Les} fat fingers
01[09:23] {Threei}  someone should move k and l farther from each other
[09:24] {robbers} And Israel and the Gaza, too.
[09:24] {Will49} :)
01[09:24] {Threei}  lol
01[09:24] {Threei}  bitter lol but lol
01[09:25] {Threei}  quote from blog post:
01[09:25] {Threei}  While the press continues its 24/7 coverage of the fiscal cliff, the effect of Obama Care on the economy is largely ignored. IMHO, Obama Care is a much bigger issue as it will destroy more incomes.
01[09:25] {Threei}  A friend of mine employs 72 people, fulltime. His accountant has informed him that to have any chance of survival in the coming years, he will need to fire 23 people by the end of the year. There must be millions of businessmen facing the same situation.
01[09:25] {Threei}  I hear this same story from many
01[09:26] {Threei}  gap up looks excessive to me
[09:26] {robbers} It's really ObamaIdon'tcare.
01[09:26] {Threei}  I'd start with looking for reversals
[09:27] {robbers} Yeah, no doubt excessive exuberance this morning.
[09:27] {nemo} I'm sitting tight gonna' pour another glass of....er...I mean cup of coffee
[09:27] {Les} pisspot
01[09:27] {Threei}  irrational exuberance to use Greenspan's words
[09:27] {cipher} gm
01[09:27] {Threei}  cipher :)
01[09:30] {Threei} Short Setup: FCX  .70 break hl
01[09:31] {Threei}  If holds  .80
[09:31] {dino} sell the gap?
01[09:32] {Threei}  as a first idea at least
01[09:32] {Threei}  nope
01[09:32] {Threei} Short Setup: AIG  .20 break
01[09:32] {Threei}  If holds  .30
[09:33] {nemo} I'd be careful about selling the gap..imo
[09:33] {nemo} 200 sma on spy is at 138.40, and since when do they make it easy to make money
01[09:34] {Threei}  Invalidated
01[09:35] {Threei} Short Setup: WMT  .80 break
01[09:35] {Threei}  hp
01[09:35] {Threei}  hl
01[09:35] {Threei}  If holds  .90
01[09:36] {Threei}  yuck
01[09:36] {Threei}  so far, no reversal
[09:37] {nemo} not until spy get's nearer the 200
01[09:38] {Threei}  CAT hesitates
[09:38] {nemo} 138.80 is confluence level on spy after the 200
01[09:38] {Threei}  dpesn't follow SPY to new highs
01[09:39] {Threei} Short Setup: CAT  .25 break hl
[09:39] {nemo} ok that
[09:39] {nemo} the 200, now let's see what sets up
01[09:40] {Threei}  Invalidated
01[09:40] {Threei}  for now
[09:40] {nemo} oh look, hesitation at the 200
01[09:40] {Threei} Short Setup: SLW  37 break
01[09:40] {Threei}  If holds  .10
01[09:41] {Threei}  Invalidated
[09:44] {cipher} tza l .35
01[09:45] {Threei} Long Setup:  GDX  .50 break
01[09:45] {Threei}  If holds  .40
01[09:46] {Threei}  come on
01[09:46] {Threei}  what the deuce
[09:49] {cipher} out tza .30 -.05
[09:51] {cipher} bidu s .60
01[09:52] {Threei}  If holds  D  .90 break
01[09:53] {Threei} Short Setup: D  .90 break
[09:53] {cipher} cov 1/2 .30 +.30
01[09:53] {Threei}  If holds  50
01[09:53] {Threei}  Invalidated
[09:54] {ese} keeps timing me out
[09:55] {cipher} re short bidu .50
01[09:55] {Threei} Long Setup:  PCG  .20 break
[09:55] {nemo} spy gonna break again
01[09:55] {Threei}  If holds  .15
01[09:55] {Threei}  target .35 - .40
01[09:57] {Threei}  half out
01[09:57] {Threei}  .29
[09:57] {cipher} cov 1/2  bidu .30 +.20
01[09:57] {Threei}  stop to .19
01[09:57] {Threei}  nice double short cipher
[09:57] {cipher} ty
[09:57] {ese} out btu .85 +.51     good enough
[09:58] {Will49} wtg ese
[09:58] {ese} tks will
01[09:58] {Threei}  good one
[09:58] {ese} it's my cash cow
01[09:58] {Threei}  ese works that BTU as a true miner
[09:58] {cipher} cash cow... I like that
[09:58] {cipher} gotta look into it
[09:58] {ese} something about the way it's trading works for me
01[09:59] {Threei}  puts on headlamp and dives into coal mine
[09:59] {cipher} cov rest ov bidu .11 +.39
01[10:00] {Threei}  PCG target hit, out
[10:00] {ese} tends to move like tna i've found except 2X
[10:00] {nemo} home sales?
01[10:00] {Threei}  (US) NOV NAHB HOUSING MARKET INDEX: 46 V 41E
01[10:00] {Threei}  *(US) OCT EXISTING HOME SALES: 4.79M V 4.75ME
[10:01] {nemo} well, let's see how frothy we are today
[10:01] {Beau} +.16 thx vad
01[10:01] {Threei}  yw
01[10:02] {Threei}  metrics don't look took good to me though
01[10:02] {Threei}  Median existing home price: $178.6K v $178.3K (revised from $183.9K)
[10:02] {nemo} If it weren't for rasslin' and fishin'  I wouldn't own a TeeeeVeee
01[10:02] {Threei}  - Distressed sales: 24% v 24% prior
[10:03] {nemo} sorry, having a flashback to a conversation I overheard in a redneck bar in South Carolina
01[10:03] {Threei}  - Prior MoM revised lower to 4.69M from 4.75M
[10:04] {cipher} bidu l .95
01[10:05] {Threei} Long Setup:  CAT  .65 break hl
01[10:05] {Threei}  If holds  .58
[10:06] {cipher} out 1/2 bidu .25 +.30
[10:06] {nemo} cat looks like spy and iwm
01[10:07] {Threei}  no go
01[10:12] {Threei} Short Setup: LVS  .50 break
01[10:13] {Threei}  If holds  .60
[10:13] {nemo} hd might be a short here
[10:13] {nemo} or long
[10:13] {nemo} two way
[10:13] {cipher} bidu s .75
01[10:13] {Threei}  1:1 in a hurry
[10:13] {nemo} 92.50 then .30 support
[10:14] {cipher} tza l.41
01[10:14] {Threei}  ese, dp said hello, should be back in a month or so
[10:16] {ese} great tks........say hi back when you get a chance
01[10:17] {Threei}  I will... he said he was slowly recovering from the trauma of looking at the photos at your site
01[10:17] {Threei}  HD is getting overextended
01[10:18] {Threei}  probably one more spike
01[10:18] {Threei}  and should ber ready to reverse
[10:18] {cipher} cov bidu .65 +.10
01[10:19] {Threei} Short Setup: LVS  .50 break
01[10:19] {Threei}  If holds  .60
01[10:20] {Threei} Short Setup: HD  .30 break
01[10:20] {Threei}  If holds  .35
[10:21] {nemo} imo, spy and IMW need to test the highs, with IWM likely going to the SPP and SPY to 138.78
01[10:22] {Threei}  HD target about 63.05
[10:22] {cipher} bidu s .81
01[10:24] {Threei}  first partial .21
01[10:24] {Threei}  stop to .31
[10:25] {cipher} cov .63 +.18
01[10:26] {Threei}  let's keep LVS stop .56
01[10:26] {Threei}  never went over .55 on the bounce
01[10:26] {Threei}  .60 for stop placement was a generous allowance
[10:27] {Les} never let it be said that you are not a generous man :)
01[10:27] {Threei}  1/4 more out HD
01[10:27] {Threei}  lol
01[10:27] {Threei}  stop to .21
01[10:29] {Threei}  touched .05 target like clockwork
01[10:29] {Threei}  LVS 1:1
01[10:29] {Threei}  life becomes brighter
[10:29] {scottie} HD +.18 tks Vad, first winner for me today
01[10:30] {Threei}  yw... but we hit 4 in a row
01[10:30] {Threei}  first LVS was hard to get
01[10:30] {Threei}  the rest were relatively easy
[10:30] {scottie} missed them all
[10:30] {scottie} Not in LVS either
[10:36] {cipher} bidu s .64
01[10:36] {Threei} Short Setup: CAT  .50 break hl
01[10:36] {Threei}  If holds  .60
[10:37] {cipher} cov bidu .15 +.49
[10:37] {cipher} nice drop bidu
[10:37] {nemo} gild under .10 might be interesting
01[10:38] {Threei}  dtop to .56
[10:38] {nemo} vrtx
01[10:38] {Threei}  1:1
[10:39] {nemo} rht volume
[10:39] {nemo} two way, below .24 or above .32
[10:40] {scottie} SFD l .75 ?
[10:41] {nemo} target .60ish
[10:42] {nemo} arguably they may try to hold the spy in this 200sma territory
[10:43] {scottie} in .77 stop .69
01[10:43] {Threei}  can't tell scottie... rather yes
[10:43] {cipher} bidu s .40
[10:45] {Les} too some here nemo
[10:45] {Les} took
[10:46] {cipher} cov bidu .42 -.02
01[10:48] {Threei}  good one RHT
06[10:48] * Les smacks Nemo around with linux on a 1950's hard drive
[10:48] {nemo} a 1950's hard drive?
[10:49] {Les} VAd
[10:49] {Les} photo please
[10:49] {nemo} they used magnet cores
[10:49] {nemo} yeah, the one with the tombstone
01[10:49] {Threei}  http://goo.gl/C5SKx
[10:49] {cipher} bidu s .42
[10:50] {nemo} yeah, it's a magnet core, not a hard drive in the modern sense
[10:50] {Les} to quote bond
[10:51] {Les} Do I look like I give a damn
[10:51] {nemo} no, that's Clark Gable
[10:52] {Les} before my time Grandpa
[10:52] {Les} Casino Royale
[10:52] {nemo} the original or the remake?
[10:53] {scottie} GME l .20 ?
01[10:53] {Threei}  not liking it
[10:53] {scottie} ok
01[10:53] {Threei}  SPY starts looking exhausted
[10:54] {cipher} cov 1/2 bidu .20 +.22
[10:55] {Les} I'm guessing remake dude. Again, I'm not old enogh
[10:55] {nemo} frickin' phillistine
01[10:55] {Threei} Short Setup: DTV  .78
01[10:56] {Threei}  If holds  .85
[10:56] {cipher} 1/4 more bidu .01 +.41
[10:59] {ese} am outte here ....cyou tomorrow
01[11:01] {Threei}  take care ese
[11:04] {nemo} VWAP converging on the 200 SMA on SPY, this could turn into a snoooooooooozeeeeeeerrrrrr
[11:05] {cipher} BIDU S .02
[11:06] {cipher} cov .10 -.08
[11:09] {cipher} bidu l .18
[11:10] {nemo} cipher=gumby
[11:10] {cipher} out .41
[11:11] {cipher} +.23
01[11:11] {Threei} Short Setup: SLW  .65 break
01[11:11] {Threei}  If holds  .75
01[11:11] {Threei}  wow HD
01[11:11] {Threei}  why did we ever cover
01[11:12] {Threei}  nailed the top to the T
[11:12] {cipher} bidu reload l .22
[11:13] {cipher} want .50
01[11:15] {Threei}  Invalidated
[11:20] {cipher} out 1/2 bidu .62 +.40
01[11:21] {Threei}  wtg
[11:21] {cipher} ty
[11:22] {cipher} out rest .50 +.28
[11:24] {scottie} BBY l .90 ?
01[11:24] {Threei} Long Setup:  HD  .75 break
01[11:24] {Threei}  If holds  .70
[11:24] {cipher} bidu reload .37
01[11:25] {Threei}  I wouldn't, BBY
[11:25] {scottie} ok
[11:26] {cipher} out 1/2 bidu .69 +.32
[11:26] {cipher} want .90 on rest
[11:28] {cipher} out .89
[11:28] {cipher} close
[11:28] {cipher} +.57
01[11:28] {Threei}  lol, close enough I'd say
01[11:31] {Threei}  no go
[11:32] {nemo} bidu vwap .88
[11:32] {nemo} pivot .95
[11:36] {cipher} vwap 92.88 ?
[11:36] {Les} yes
01[11:38] {Threei}  HD rinse
01[11:38] {Threei}  prick
01[11:38] {Threei} Short Setup: FB  .45 break
01[11:38] {Threei}  hl
01[11:38] {Threei}  If holds  .55
01[11:38] {Threei}  with idea to add another hl on .40 break
[11:39] {cipher} l bidu .00
[11:40] {nemo} I see a short
[11:41] {cipher} out .85
[11:42] {cipher} you were right
[11:42] {nemo} don't you have a comment dino?
[11:42] {nemo} broken clock moment cipher
[11:42] {dino} cov cat .30, +.20 ty vad
01[11:42] {Threei}  :)
01[11:43] {Threei}  patient one
[11:43] {nemo} cipher...when a stock is weak, they often retrace to the vwap.  vwap and pivot were very close, the 38.2 retrace of the open to the bottom was at the pivot, so often you'll see a reversal at thos confluences
[11:44] {cipher} gotcha
[11:44] {nemo} http://www.freestockcharts.com?emailChartID=0852bc9a-fb69-4d43-935b-2a46c38802f1
01[11:44] {Threei}  come on HD, this is nasty
[11:45] {Les} just crossed vwap resistance HD
01[11:45] {Threei}  had .95 target in mind
[11:46] {cipher} nemo so when pivot and vwap are close the signal is even stronger, correct?
[11:47] {nemo} when you have confluences it often is, because now you have multiple trading styles looking at the same level.  So, this .10 range had 3 different types of traders looking at this area
[11:47] {nemo} just my opinion btw
[11:52] {nemo} so this .50 level on bidu is not only a natural price inflection level (dino's .00 .25 .50 .75) it's also the 23.6 retrace from the open to the low, which provided both support and resistance today, so it makes sense for it to be inflection
01[11:52] {Threei} Short Setup: FB  .50 break hl
01[11:52] {Threei}  If holds  .60
[11:55] {Les} LVS 44 short?
01[11:55] {Threei}  if stays under .10 and SPY helps, yes
01[11:55] {Threei}  need SPY to remain unable to break .50
[11:56] {dino} nemo, re: comment. these gap up and sit markets are not my thing. i usually don't do much on these type days
[11:57] {nemo} true, but I was waiting for the "I see dead people" comment
[11:57] {dino} lol, wanted dead bear on sat., but no luck
[11:57] {nemo} you a bear hunter?
01[11:57] {Threei}  nor is it mine, dino
[11:58] {dino} on a limited basis
01[11:58] {Threei}  so, whose thing is it
[11:59] {dino} 3i, my notes say these days cost me, so i sit
[12:01] {Will49} cipher...how do you do on these days?
[12:02] {cipher} not bad will
[12:02] {dino} cipher is an animal every day
[12:02] {cipher} no record days though
[12:02] {Will49} so it seems :)
[12:02] {cipher} bidu l .35
[12:04] {cipher} if I'm not gone by 11 am that means I want more cash
[12:05] {cipher} out 1/2 bidu .70
[12:06] {Will49} you wild and crazy guy
[12:06] {Les} FSC says $SPX 200 MA is here
[12:06] {Les} SPY 200 ma a little lower
[12:06] {nemo} 138.78 level twolevels
[12:07] {cipher} out rest bidu .64 +.29
[12:09] {dino} gj
[12:10] {cipher} TY
[12:10] {cipher} sorry my hot key is caps lock
[12:10] {cipher} toggles on & off
01[12:13] {Threei} Short Setup: LVS  44 break
01[12:15] {Threei}  stop .06
01[12:16] {Threei}  1:1
[12:22] {dino} evep drop
[12:25] {cipher} evep L .59
[12:27] {cipher} out 1/2 .99+.40
[12:28] {cipher} thx dino
[12:28] {scottie} TJX s .75 ?
01[12:29] {Threei}  I think so
[12:30] {scottie} in .74
01[12:31] {Threei}  55% Rate Government Response to Hurricane Sandy Positively
01[12:32] {Threei}  I would guess, this % is much lower in the zone that got actual hit and has firasthand knowledge
[12:32] {Les} nothing looks so good as a CNBC makeover
01[12:34] {Threei}  what makeover?
[12:34] {cipher} out second 1/2 evep .30 +.71
[12:34] {Les} that only television can produce, depending on it's partisan calling
[12:34] {cipher} now I have cash
[12:35] {cipher} cya tomorrow
[12:35] {cipher} thx for ideas
[12:35] {Will49} bring your luck back tomorrow
[12:35] {Will49} i mean skill
[12:36] {dino} cya
01[12:36] {Threei}  take care cipher
[12:36] {Les} ciao c
01[12:39] {Threei}  (GR) EMU officials indicate that tentative approval will be given to Greece tomorrow on the �44B tranche which will be disbursed Dec 5
[12:49] {dino} actg hl l .06
01[12:50] {Threei} Short Setup: AIG  .35 break
01[12:50] {Threei}  aggressive for .30
01[12:51] {Threei}  TJX works
[12:51] {scottie} half out
[12:52] {dino} mstr hl l ave .06
[12:54] {Les} AIG stop?
01[12:54] {Threei}  standard, .45
[12:55] {nemo} we should get a long bounce by the time iwm gets to .65 vwap and daily R2 should be in confluence
[12:55] {dino} actg stop .87 -.19
[12:58] {nemo} long setup here tna
01[13:01] {Threei}  hmmm
01[13:01] {Threei}  doesn't look long to me
[13:01] {nemo} I understand, and I would prefer something closer to the .65 level on IWM, but...
[13:02] {nemo} finnies are at vwap so they might just sit here, which mean it will be hard for iwm or spy to move much
[13:07] {nemo} hurry up and wait
[13:11] {scottie} out TJX
[13:13] {Will49} tks scottie..my first win
[13:14] {scottie} bad day for you too !
[13:14] {Will49} oh yeah!
01[13:14] {Threei}  wow
[13:14] {scottie} :(
01[13:15] {Threei}  come on guys... surely not every winner up to this point was unattainable
[13:18] {scottie} sfd out -.09
01[13:22] {Threei}  ok AIG
01[13:22] {Threei}  lose .30 and die
[13:22] {nemo} spy vwap and 200 at this bounce
01[13:28] {Threei} Short Setup: JCP  .65 break
[13:29] {nemo} dltr
[13:30] {Les} 3 min bearish divergence building. u wanna take it short?
01[13:31] {Threei}  who are you addressing Les?
[13:31] {nemo} me
[13:32] {nemo} I think it will base build around here to go long look at the daily.  Not sure it has much more room today
[13:32] {nemo} I think a short is more likely,
[13:33] {nemo} having said that, R3 is possible
[13:33] {Les} can't give you more than one vote Vad. will have to clean out my browser history
01[13:33] {Threei}  1 vote a day
[13:33] {nemo} regarding?
01[13:33] {Threei}  if you haven't voted today, you can
[13:33] {nemo} ahhhh
[13:33] {nemo} check in the mail?
[13:34] {Les} FB ya dinosaur
01[13:34] {Threei}  http://goo.gl/p1tts
01[13:34] {Threei}  we are in the lead
01[13:34] {Threei}  continue clicking pls :)
01[13:35] {Threei}  btw you may want to give their newsletter a chance
01[13:35] {Threei}  it's not bad
01[13:35] {Threei}  many good articles
01[13:35] {Threei}  and unsubscribe button works well
01[13:36] {Threei}  just like ours - which 7 of you have found out by clicking it accidentally, lol
01[13:36] {Threei}  boy, did we misdesigned that e-mail if 7 folks managed to unsubscribe themseleves accidentally
[13:37] {Les} could be secret intelligence test
[13:37] {Les} IQ test
[13:37] {Les} I failed :)
01[13:37] {Threei}  reflexive clicking test
[13:37] {Les} not a frikin word nemo
[13:37] {Les} playing with his bunny
[13:38] {Will49} is that code for something?
[13:38] {Les} http://www.blogger.com/profile/12115825900355965561
[13:39] {nemo} haven't seen her today
[13:40] {Les} she got the whole house?
01[13:40] {Threei}  (EU) Germany Chancellor Merkel's CDU party expected to pass a resolution at December party meetings explicitly refusing joint liability for other euro zone countries (i.e. cementing rejection of euro bonds), and warn ECB against overextending its bond buying programs for weaker EMU nations
01[13:40] {Threei}  huh
01[13:40] {Threei}  in the past such headline wouyld have killed the market instantly
01[13:40] {Threei}  I guess no one believes this anymore
[13:42] {Les} VWAP is now .40 on AIG. new stop?
01[13:42] {Threei}  I'd prfer it tolose .30 for stop trail
[13:42] {Les} ok
[13:44] {Les} die frikin /&%%*
01[13:44] {Threei}  trail now
01[13:46] {Threei}  1:1
01[13:50] {Threei}  no go JCP
[13:52] {scottie} OK, maximum daily loss reached, I am going to lick my wounds and see you tomorrow.
[13:52] {Will49} keep the faith scottie
01[13:52] {Threei}  still in AIG?
[13:52] {Will49} I am
[13:53] {scottie} Covered the rest at .26
01[13:53] {Threei}  take care scottie, tomorrow's bound to be better
[13:53] {Les} ciao scottie
[13:54] {scottie} the good thing about a day like today, is that tomorrow will certainly be better :)
[13:54] {scottie} bye everyone
[13:55] {Les} potential DT here AIG
[13:55] {Les} DB
[13:55] {Les} here comes DLTR
[14:06] {Les} cover AIG .28 gotta eat
01[14:22] {Threei}  stop to .31
[14:30] {Les} Vad MON is a bubble buster
[14:30] {Les} .65 b/d hoilding .72?
01[14:30] {Threei}  I think so
[14:34] {Les} shrted the DT .69
[14:34] {Les} want .50
[14:39] {Les} stopped
01[14:41] {Threei}  AIG is drifitng toward 1:2
[14:42] {dino} gj
[14:42] {Will49} longest trade I've ever been in :)
01[14:43] {Threei}  yeah, takes its sweet time
[14:43] {Will49} that's a good thing, as Martha says
01[14:43] {Threei}  but with any luck is capable of 1:3
01[14:46] {Threei}  (GR) Greece Govt official indicates that the Govt will not accept Troika request to cut 20K employees from state workforce
01[14:47] {Threei}  CA) Canada PM Harper: Surprised by the level of protectionism seen in the US; Keystone pipeline is crucial component for energy security- US denial of Keystone Pipeline approval shows Canada needs to diversify its energy exports, can't rely on the US as only big energy custome
01[14:48] {Threei}  what's with sudden bout of happiness
[14:55] {Les} lot of bubble busters today, but relentless grind up
01[14:56] {Threei}  out AIG on trail
01[14:56] {Threei}  grrr
01[14:58] {Threei} Long Setup:  COST  .40 break
01[14:58] {Threei}  If holds  .30
[15:02] {Les} FB
[15:02] {Les} break of .90?
[15:02] {Les} with some consolidation
01[15:03] {Threei}  not sure... these market spikes make me think final move for the day will be up
[15:03] {Les} ok. certainly active here
01[15:13] {Threei} Long Setup:  WMT  .75 break
01[15:14] {Threei}  If holds  .65
01[15:14] {Threei}  target .95
[15:20] {dino} took hours, but out mstr ave .51, +.45
[15:21] {Les} patience is a virtue gj
[15:21] {dino} ty
01[15:28] {Threei}  OK WMT
01[15:28] {Threei}  let's do it
06[15:33] * Threei kicks WMT in the rear
01[15:35] {Threei}  1:1
[15:44] {thomcbell} lvs late in the day scared longs?
01[15:46] {Threei}  I guess
01[15:46] {Threei}  WMT 1:2 target hit
[15:46] {Les} moooooooooor
[15:46] {Les} e
01[15:46] {Threei}  don't tell me no one got it
[15:46] {Les} oh yeh
[15:46] {Les} all out .98¨
[15:46] {Will49} Hoooooray
01[15:46] {Threei}  whew
[15:47] {Will49} nice way to end the day
[15:47] {dino} calling it a day, thx all
[15:47] {Will49} as you say, the day gets brighter
01[15:47] {Threei}  take care dino
[15:47] {Les} yeh cheers all
01[15:47] {Threei}  actually, about breakeven here
[15:47] {Will49} see you tomorrow
01[15:48] {Threei}  thank you all, have a good evening
01[15:48] {Threei}  see you tomorrow

Nemo's Findings week of 11/18/2012

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

Just a head's up, I'm travelling this week so likely there will be no Nemo's findings next week, because Nemo will be nowhere to be found.  Anyway...

The week that was:

As the French say: Plu ca Change plu c'est le meme chose.  As Led Zep said:  The song Remains the Same....that is, we're in a Bear phase, though they are making the bears pucker to get their rewards.

 Notice how SPY closed at the 200 sma above.

Notice how spy opened in the gap and quickly rose to recapture  the 200 but then closed at the top of the volume support.  Notice IWM started in the volume vacuum and closed just above.  (Volume support are price bands shaded in red, vacuums are shaded in blue).  The FAS doesn't hit volume support until 97.20ish which is about 15.15 on the xlf.

Notice how the volume gap supported IWM.

Well, that was an interesting Friday.   Harry Reid and John Boehner have a Kumbaya moment, and the market makes a U-turn.  Don't you find it interesting though that the market does the about face at specific demarcated levels on the charts?  I see that alot.  Must be a coincidence.  Having said that, when I looked at the charts yesterday, it looked like we might be setting up for a bounce.  Now, it looks like, if the market holds these gains without new lows, then I think we're on the way to challenge the 200 SMA's.   The $ looks as if it's ready for a retrace, which usually means a climbing market.  Here are the dailies so you can see the larger time-frame:

 SPY descended into the gap from July, the top of which coincided with the 61.8 retrace from the June low.

 The Qs descended into the gap from June, just about completing the traverse

 

 

 IWM also descended into the small gap from June.

 

The $ broke the 200 SMA but formed a shooting star which is often the sign of a top.

The finnies touched the 50% retrace of the June low which coincided with a subjective base for a fibonacci retrace and recaptured the 200 SMA, which I drew because it served as the breakout level from the 7/3 highs.  

 

The week that is:

 

  

Market Week Wrap-Up

Markets maintain cautious tone despite some signs of hope


- Investors opened the week trying to shake of the cob webs of a post-election hangover that enveloped markets late last week. Some early bargain hunting in stocks quickly gave way to headlines on the US 'Fiscal Cliff,' turmoil surrounding the Greek bailout and another escalation of tensions between Israel and Hamas in the Gaza strip weighing on sentiment. By mid-week a clean break below the S&P 500's 200-day moving average spooked many technicians, and the major US indices were testing multi-month lows with the NASDAQ officially in correction territory. Economic data releases did little to stem the tide despite some improvement in Chinese figures that included a better October trade balance and the biggest uptick in industrial production in five months. European economic reports remain unpleasant. Q3 preliminary GDP figures showed the continent officially entered a double dip recession while a declining reading in Germany's November ZEW economic sentiment index suggests problems in the periphery have spilled over to the core economies. In the US, the November Philadelphia Fed reading fell to a 4-month low along with October Advanced Retails Sales figures, while October Industrial Production declined unexpectedly. Weekly initial jobless claims jumped to 439K well above what was expected. Analysts did note that much of the weakness seen in the US data can be explained away by what are likely short term effects from Hurricane Sandy. WTI crude oil futures finished the week up roughly 0.75% percent near $87 while Brent prices declined by less than 0.5%. Natural gas prices rallied more than 8% to close just below $3.80 after technicians noted a bullish break above converging 50 and 200-day moving averages. December gold finished down 1% despite Chinese officials discussing the need to increase gold reserves. The benchmark US 10-year yield declined a handful of basis points and remains just a few ticks from fresh multi-month lows. For the week, the DJIA and Nasdaq each fell 1.8%, while the S&P500 lost 1.5%.

- With the US economy hurtling towards the 'Fiscal Cliff' all eyes turned squarely on Washington this week. On Wednesday, President Obama met with business leaders ahead of a Friday meeting with Congressional leaders from both parties. By mid-week reports circulated that the Administration would ask for $1.6T in additional tax revenue throwing some cold water on hopes both sides could come to an agreement quickly. Ahead of the meeting another press report suggested the White House was in advanced talks on a plan to replace the sequester portion of the Cliff, thus pushing back major deficit reduction talks into 2013. A post meeting press conference on the White House lawn provided some renewed hope. Representatives from both sides of the aisle including Speaker Boehner and Senate majority leader Reid indicated the talks were "constructive" and a deal can be achieved, with revenue remaining on the table as long as it is accompanied by spending cuts. Equity markets rallied hard following the press conference late Friday morning with the Dow rallying more than 100 points off of the session and week low.

- Third quarter earnings season is slowly drawing to a close. A handful of influential technology companies and the majority of big US retailers reported results this week. Cisco systems saw modest growth in earnings and revenue in its Q1 and forecasted flat growth for Q2. The bar was not set very high for the firm after several quarters of declining outlook for IT in general and network hardware in particular. CEO Chambers said that he is seeing a slightly better environment in the US and in Asia, while also warning that Europe would get worse before it got better. Dell missed consensus expectations while Q4 and FY13 guidance disappointed once again. Shares of Sina Corp also came under pressure falling roughly 13% after reporting Q3 gross margins down and providing Q4 guidance below analyst forecasts.

- Retailers posted mixed results with many commenting on the impacts of Hurricane Sandy. WalMart shares fell to the lowest level in three months after reporting revenues a bit below consensus. Along with in-line guidance, the company disclosed an investigation into foreign corrupt practices has expanded to China and India. Target Inc fared better after beating noticeably on the bottom line and guiding Q4 EPS above consensus. Home Depot performed well in its Q3, with earnings and revenue just above expectations on modest y/y growth. After raising its forecast Home Depot said it would see a boost from Hurricane Sandy similar to the one saw from Irene last year, which added $360M in sales in Q3 and Q4 of 2011. Specialty apparel names were particularly strong led by Abercrombie and Fitch. Shares of Abercrombie jumped more than 25% after profit growth widely outpaced expectations. In addition, Abercrombie hiked its full-year guidance and said comps would return to positive growth in Q4. Luxury name Saks came under pressure after Q3 revenue missed expectations. Executives warned that they are seeing lower sales at many of the stores impacted by Sandy, calling the storm a "punch to the stomach." Sears Holding declined more than 15% following Q3 results that saw SSS decline by 1.6%. Management noted particular shortfalls in categories like groceries, and household and consumer electronics.

- Two iconic US technology bellwethers had another tumultuous week. Apple at one point was down another 7% to trade near $500 for the first time since February. Sentiment remains clearly negative with everything from a likely increase in the US capital gains tax rate, to rising input costs in Asia, to continued concerns surrounding the ability to recapture the culture of innovation seen under founder Steve Jobs, seen as potential catalysts for selling Apple shares. Microsoft slid 6% after the executive widely expected to become the firm's next CEO resigned. Steven Sinofsky, head of Microsoft's Windows unit, left the company only two weeks after launching Windows 8. The move was unexpected and neither Microsoft nor Sinofsky gave an explanation, although sources suggest the decision was "mutual" and that Sinofsky would not take a job at another company anytime soon.

- In M&A, the news was relatively light with only a few small to midsize deals getting attention. On Monday Jefferies Group announced at deal to be acquired by Leucadia National for about $3.7B. Jefferies holders would receive 0.81 Leucadia shares per share, implying a deal value of approximately $17.66/share. For Leucadia, known as a "mini Berkshire Hathaway," Jefferies comprises one of their largest current investments. Late last Friday Precision Castparts said it would buy Titanium Metals Corp for $2.9 billion. The all cash offer represented a 44% premium to Friday's closing price and does include a "go shop" provision. Ally Financial is said to have reached a deal to sell its auto financing operations in Europe and Latin America to General Motors for around $4B. Late in the week Hertz confirmed FTC approval for its purchase of Dollar Thrifty.

- For currency traders coming into the week risk aversion maintained a foothold as the Greek situation remained unresolved and worries about the US Fiscal Cliff remained. Monday's Eurogroup meeting proved to be a bit of a disappointment. Discussions continued around just on how to cut the Greek debt burden and in the end only served to highlight the differences between Euro Zone Finance Ministers and the IMF. EU chief Juncker remained optimistic that a decision on the Greek €31.5B aid tranche would be decided at its next gathering on November 20th for the Eurogroup, but other senior officials indicated the final decision could slip to a later date. At 1.2660 EUR/USD began the week at new 2-month lows after the weaker than expected German ZEW survey served as another reminder that the economic crisis was staring to infect core economies. The pair found some support on reports Greece was to receive €44B in aid via one lump payment (€31B plus the 2 tranches that were due in September). The pair later tested various technical levels around 1.2730 after a Greek bill auction raised the bulk of the expected €5B in redemptions that country faced this week, and thus averted any immediate default risk. By Friday, dealers noted that the pair might have the legs to probe back towards the 1.28 handle but stalled just below its 200-day moving average at 1.2808.

- The JPY currency weakened noticeably on mid-week reports that the Japan Cabinet would again downgrade its economic assessment in its upcoming monthly report for the fourth straight time. The JPY weakened further after PM Noda hinted he might dissolve Parliament on Friday, November 16th if LDP opposition pledged to meet certain conditions. The USD/JPY edged towards the 80 handle after Japan LPD (opposition) official Abe was said to have agreed to conditions laid out by PM Noda for snap elections. The LDP looks to be in a position to form the next government, and Abe has favored unlimited easing by the BoJ and would likely seek the central bank cut in the benchmark rate to zero or lower. By Friday USD/JPY broke above the 80.70 level to test the 81 level and 6.5 month highs.

  TradeTheNews

Nov 16 2012

Not a big but profitable day, ending week on a decent note. 

In other news, 111 TRADES course has been designated as a finalist in the Star Awards by TraderPlanet. We will be thankful for your support by voting for it. Details are at http://www.realitytrader.com/traderplanet.html

 Session Time: Fri Nov 16 00:00:00 2012
[08:55] {nemo} lvs news?
01[08:58] {Threei}  LVS (ES) Madrid to cut casino tax to 10% from 45% for EuroVegas project - financial press (related EWP )
[08:58] {scottie} good morning
01[08:59] {Threei}  scottie :)
01[09:01] {Threei}  required reading for you, komrade nemo: http://goo.gl/jqHAv
[09:02] {nemo} thank you Komrade Vadymovich
01[09:05] {Threei}  submit your written esse on the topic above by 17:00
[09:07] {ese} morning
[09:09] {ese} ok i'm confused.......what the heck is the difference between the EU and the Eurozone.....
[09:09] {ese} The wider 27-nation EU, which includes non-euro countries, avoided the same recession fate as the eurozone.  Eurostat said the EU's output rose 0.1 per cent during the third quarter, largely on the back of an Olympics-related boost in Britain.
[09:10] {ese} if one contains the other and one expanded by 0.1 and the other contracted by 0.1....it's a wash
[09:10] {ese} Official figures Thursday showed that the eurozone contracted by 0.1 per cent in the July to September period from the quarter before as economies including Germany and the Netherlands suffer from falling demand.
01[09:11] {Threei}  hold on ese
01[09:11] {Threei}  before we get into that, I have more for you
[09:11] {ese} but the Eu expanded.........
01[09:12] {Threei}  11:51] {Threei} ok, we need ese to come back for a min, to talk about those mortgages:
01[09:12] {Threei}  [11:51] {Threei} (US) House Financial Service Commitee Chair Rep Bachus (R-AL): FHA will need Treasury bailout within one month- Reminder: yesterday reports circulated that the FHA was nearing a point at which it could run out of reserves due to rising mortgage deliquencies; may ask for taxpayer money for the first time
01[09:12] {Threei}  and
01[09:12] {Threei}  (US) North America OCT SEMI book to bill ratio: 0.75 v 0.81 prior (5th reading below parity, 7th consecutive m/m decline)- OCT (3-month avg) worldwide bookings (orders) m/m: $743M v $913M prior - OCT (3-month avg) worldwide billings m/m: $986.5B v $1.16B prior
[09:12] {cipher} gm
01[09:12] {Threei}  cipher :)
01[09:13] {Threei}  now, eurozone is 17 countries that use euro as single currency
01[09:13] {Threei}  EU is 27 countries, 10 of which contunue using their oen currency
01[09:13] {Threei}  own
[09:14] {Beau} Good Morning
01[09:15] {Threei}  beau :)
[09:15] {ese} so if they are all conected.....one expands by 0.1 and the other contracts by 0.1 it's a flippin wash
[09:15] {Les} morning
01[09:15] {Threei}  beau :)not really
01[09:15] {Threei}  les :)
01[09:15] {Threei}  most of EU expansion is one country, Britain, and one event - Olympics
01[09:16] {Threei}  that makes no change to the economy of the continent,
[09:16] {thomcbell} lvs - hehe
01[09:16] {Threei}  while contraction of the core means recession, rising unemployment etc'
[09:17] {ese} i detect fear mongering here...............
01[09:17] {Threei}  you misread the comments
01[09:17] {Threei}  there is no fear mongering or panic or anything like that
[09:17] {ese} maybe........
01[09:17] {Threei}  there is realism vs pink-colored glasses
[09:17] {ese} but so far the sky is not falling
01[09:18] {Threei}  if you thinkl everything's fine, you are wearing those
01[09:18] {Threei}  so far, no - we are simply on a downward slope
01[09:18] {Threei}  which leads into abyss if we do not change course
[09:18] {ese} agreed
01[09:18] {Threei}  let me put it this way
01[09:19] {Threei}  if you spend 1000 a month, make 700 a month and borrow 300, each and every month, and already owe 5000,
[09:20] {ese} there it is again..........free offer of a green card to work for nemo just appeared at the top of this web page
01[09:20] {Threei}  can you continue that for long and how is it going to end if you don't stop spending and borrowing?
[09:20] {Les} you've married my wife
[09:20] {ese} lol
[09:21] {Will49} gm
01[09:21] {Threei}  does realization that this path is unsustainable mean you are a fear mongerer?
[09:21] {ese} will
01[09:21] {Threei}  will :)
01[09:21] {Threei}  now, if I may make next step:
01[09:22] {Threei}  if on another month you managed to borrow not 300, but 500, and got a bit more room for spending,
01[09:22] {Threei}  does it measn that your situation improved?
[09:23] {ese} in a way yes ............the constant posting of negatvie news anywhere without without offer up anypositve solutions is fear mongering
[09:23] {ese} offering
[09:23] {nemo} mmmhhh db spy
01[09:23] {Threei}  please answer the question above
[09:23] {dino} gm
01[09:24] {Threei}  dino :)
[09:24] {nemo} NO
[09:24] {ese} no sure i get you there
[09:24] {ese} not
01[09:24] {Threei}  if on another month you managed to borrow not 300, but 500, and got a bit more room for spending, does it mean that your situation improved?
[09:24] {ese} not necessarily
[09:24] {ese} depends on the circumstances
01[09:25] {Threei}  but that's exactly what you asre telling us when pointing out to improved numbers
01[09:25] {Threei}  you borrowwed more and spent it
01[09:25] {Threei}  how did it improve your situation, other than gave you one month relief and dug deeper hole?
01[09:26] {Threei}  money is gone and you owe even more, and pay even more interest
01[09:26] {Threei}  interest grows, and soon will become your major share of spending
01[09:27] {Threei}  and lenders start worrying
[09:27] {ese} am now confused even more...........my original comments were about the EU and Eurozone.......
01[09:27] {Threei}  and are about to refuse another loan, or raise interest
[09:27] {ese} ones up ones down by the same amount.......
01[09:27] {Threei}  I am answering your general comment about fear mongering and sky not falling
01[09:28] {Threei}  that one I addressed earlier:
01[09:28] {Threei}  09:15] {Threei} most of EU expansion is one country, Britain, and one event - Olympics
01[09:28] {Threei}  [09:16] {Threei} that makes no change to the economy of the continent,
01[09:28] {Threei}  [09:16] {Threei} while contraction of the core means recession, rising unemployment etc
[09:28] {ese} well if ones is up and one is dn by the same amount.....is a wash and not negative
01[09:28] {Threei}  lift your eyes by 3 lines :)
[09:28] {ese} anyway.......this could go on forever
[09:29] {dino} lol
01[09:30] {Threei} Short Setup: FCX  37 break hl
01[09:31] {Threei}  If holds  .10
01[09:31] {Threei}  1:1
[09:33] {thomcbell} fb
[09:33] {thomcbell} beast
01[09:35] {Threei}  it's not done destroyng bears
01[09:35] {Threei} Short Setup: FB  .60 break hl
01[09:35] {Threei}  If holds  .70
01[09:36] {Threei}  nope
01[09:38] {Threei} Long Setup:  LVS  .90 break
01[09:38] {Threei}  If holds  .80
01[09:39] {Threei}  Invalidated
01[09:41] {Threei}  US October industrial production falls 0.4%, Fed says
[09:43] {thomcbell} wynn sold off pretty good think lvs a short here \
[09:43] {thomcbell} but it is wicked
[09:44] {thomcbell} short setup lvs 42.68 break if holding 42.80
01[09:44] {Threei} Short Setup: FCX  .80 break
01[09:44] {Threei}  If holds  .90
01[09:45] {Threei}  Invalidated
01[09:45] {Threei}  wow, I just saw Hostess news
01[09:46] {Threei}  this is nasty
01[09:47] {Threei} Short Setup: CAT  .20 break hl
01[09:47] {Threei}  If holds  .30
01[09:47] {Threei}  change to .30 break, if holds .40
01[09:48] {Threei}  1:1 but entry was tough
[09:48] {scottie} didn't get it
[09:48] {thomcbell} lvs 1:1
01[09:48] {Threei}  yeah, not many shares were available
[09:49] {scottie} great call though
[09:50] {thomcbell} lvs 1:2
01[09:50] {Threei}  nice one on LVS tbell
01[09:50] {Threei}  nailed it perfectly
[09:50] {thomcbell} tu
[09:50] {thomcbell} covering rest there 42.39
[09:51] {Will49} super tbell
01[09:52] {Threei} Short Setup: BP  40 break
01[09:53] {Threei}  If holds  .10
01[09:53] {Threei}  this one is not a scalp
01[09:54] {Threei}  target 1:4 - 1:5
[09:55] {nemo} nice volume, trying to hold it up
01[09:58] {Threei}  Armed wing of Hamas says it has fired a Qassam rocket at Jerusalem; air raid sirens wailing in Jerusalem
[10:03] {dino} whoosh down coming imo
01[10:03] {Threei}  I concur
01[10:03] {Threei}  or is it konkur?
[10:04] {thomcbell} oof - LVS
01[10:04] {Threei}  let's trail BP to .06
[10:04] {Les} what is a whoosh?
01[10:04] {Threei}  protection against double bottom
01[10:04] {Threei}  sound water makes when goes down the drain, les :)
[10:05] {nemo} Les....
[10:05] {dino} spy going for that 134 gap
[10:05] {Les} that's more girgling isn't it?
[10:05] {nemo} the whooshing sound will stop if you put ear plugs in at least one ear
[10:05] {Les} hahahah
01[10:05] {Threei}  hmmm... your european drains must have different construction
[10:06] {nemo} too funny this little bottom is the Semesterly pivot
01[10:06] {Threei}  ours whoosh, your gurgle
[10:06] {dino} sina gap 44.53 aug
01[10:06] {Threei}  1:1 BP
[10:09] {nemo} arguably spy/iwm long here
[10:11] {thomcbell} wow wynn up only 1% - still looking for another lvs entry
[10:11] {cipher} sina s .82
[10:14] {cipher} cov .52 +.30
[10:14] {cipher} thx dino
[10:14] {nemo} those tails look like SINA got farther to go
[10:15] {thomcbell} nasty gld
[10:15] {dino} gj cipher
[10:15] {cipher} l sina .40
[10:16] {cipher} out .61
[10:16] {cipher} nice moves
[10:16] {Will49} nice shooting
[10:16] {nemo} finger lightning
[10:17] {Will49} steel balls
[10:17] {dino} clf hl l .76
[10:17] {nemo} whoa, cardiac trader
[10:17] {cipher} SINA L .29
[10:17] {cipher} out .65
[10:18] {Will49} magnificance
[10:18] {cipher} no fill @.25 had to chase a bit
[10:19] {dino} hov l .51
[10:25] {thomcbell} lvs still vulnerable but cant get a pattern
[10:25] {nemo} play it short, it was news on a tax rate and a project that hasn't even started
[10:26] {cipher} sina l .62
[10:26] {cipher} out .02 +.40
[10:27] {Will49} on a tear
[10:27] {cipher} damn bastards no fill @.20
[10:27] {cipher} trying to pick my pocket
[10:27] {Will49} sue 'em
[10:28] {nemo} said the pocket picker
[10:28] {cipher} lol
[10:29] {thomcbell} FB unreal
[10:30] {thomcbell} turned into a serious up stock
[10:35] {dino} clf stop -.26
01[10:35] {Threei}  never underestimate power of short squeeze... and sheer number of idiots going for such obvious plays as "shot on lockup expiration whole world talks about for months"
01[10:35] {Threei}  shot = short
[10:35] {Les} you sound like darth vader
[10:36] {Les} never underestimate the power of the dark side
[10:36] {cipher} vad thinking about vodka shots already
01[10:36] {Threei}  well, I don't breathe that heavily
01[10:36] {Threei}  let's cover second partial on BP here
[10:36] {nemo} dark side light side, different views on the same thing
[10:37] {Les} oh go away you
[10:37] {nemo} use the dark when you need the dark use the light when you need the light
01[10:37] {Threei}  and drink when bored
[10:37] {Les} no either/or in your book is there?
[10:37] {nemo} drink when bored, drink when engaged, hook up IV while sleeping
[10:38] {Les} due to order error all covered BP .81 ty
[10:38] {Les} will short more if .80 is broken
01[10:38] {Threei}  you may have heard that British scientists discovered that chocolate improves the mood. My understanding is, they haven't tried vodka
[10:39] {cipher} nice patience on BP
01[10:39] {Threei}  wanted more actually
[10:39] {cipher} I got tired of it long time ago
[10:39] {Will49} nice tip on the partial Vad
[10:39] {dino} clf hl l .50\
01[10:39] {Threei}  but the last part is stopped on a trail, .92
01[10:39] {Threei}  it touched 1"2 second time and bounced rather quickly
01[10:39] {Threei}  1;2
[10:40] {Les} boredom good cipher
01[10:40] {Threei}  this kind of things makes me wary
[10:40] {Les} your trading terrifies me
[10:40] {Les} vwap .96 BP
[10:40] {cipher} sina l .80
[10:41] {cipher} out .70
[10:42] {nemo} did cipher lose money?  wtf
[10:42] {nemo} he must be a vulcan
[10:42] {Will49} come on cipher...bare down
[10:43] {nemo} yeah grow a set
[10:43] {nemo} sheesh
01[10:48] {Threei} Short Setup: FCX  .60 break
01[10:48] {Threei}  If holds  .70
[10:50] {nemo} http://www.youtube.com/watch?v=Dd7FixvoKBw&sns=em
01[10:54] {Threei} Short Setup: FB  .50 break
01[10:54] {Threei}  If holds  .60
[10:58] {thomcbell} looks like a long here FB
[10:58] {nemo} yep
[10:58] {thomcbell} go test the reaction high
[10:59] {nemo} 24.25 next level
[10:59] {Les} another .10 on BP ty
[11:00] {nemo} lvs
01[11:03] {Threei}  :)
[11:07] {Les} what is this Key & Peele? Too funny
[11:07] {nemo} sent to me
[11:08] {nemo} lvs
[11:08] {nemo} sorry
[11:09] {dino} gps hl l .45
01[11:11] {Threei}  (US) Coast Guard: A shallow water oil platform in the Gulf of Mexico is on fire due to an explosion- Occurring in the WD block 32 - 2 deaths reported
[11:12] {Will49} BP Karma
01[11:12] {Threei}  not indicated whose platform
[11:12] {Les} thought Obama shut down oil production in GOM
01[11:12] {Threei}  uh oh
01[11:12] {Threei}  (EU) Russia PM Putin: Believes in the fundamental basis of the EU economy; Euro has proven itself as a stable currency
01[11:12] {Threei}  run for your life
01[11:13] {Threei}  sell all euro you have
[11:13] {Les} yeh patching up relations with GErmany
[11:14] {Les} or he's selling
01[11:14] {Threei}  ok, this seals the question whether Obama's decisions are based on anything but politics of the moment:
01[11:14] {Threei}  US President Obama said to have voiced opposition to relaxing the corn ethanol laws; will maintain the mandate - fianncial press- Reminder: Some states in recent weeks had requested that the Govt ease its requirements for ethanol blend in gasoline
[11:14] {nemo} V might be a short below .50
01[11:17] {Threei}  57% Favor Tax Hike On Those Who Make Over $250,000
[11:17] {Will49} surprise surprise
[11:17] {nemo} that keeps corn prices up
[11:17] {nemo} another way to hide farming subsidy
[11:18] {thomcbell} aapl unreal
[11:24] {thomcbell} wow what a gift on lvs and wynn
[11:30] {thomcbell} aapl almost a long
[11:30] {thomcbell} this is reaching near hysteria
[11:30] {thomcbell} short term
[11:30] {scottie} half out fcx
[11:31] {thomcbell} long small lvs
[11:34] {dino} sina gap fill
[11:36] {scottie} out
[11:38] {thomcbell} out lvs + 0.20
01[11:40] {Threei}  finally FCX
01[11:40] {Threei}  half out
[11:41] {Will49} that was an exercise in patience
01[11:42] {Threei}  no kidding
[11:42] {dino} hl l sina .80
[11:42] {scottie} was already half out at .50 and stopped at .61, how come you're still in ?
[11:42] {dino} spike
01[11:42] {Threei}  it never took my bid
[11:42] {nemo} HOLY SHIT WTF!!!
01[11:42] {Threei}  last time I mean
[11:43] {scottie} Ahhh
[11:43] {nemo} this was the bottom
01[11:43] {Threei}  (US) House Speaker Boehner: Talks were constructive; will continue to have revenue on the table - joint press conference following White House meeting- Confident can advert the fiscal cliff - Sen Reed: Can not kick the can down the road.
[11:45] {scottie} CTL l .70 ?
[11:46] {nemo} I wonder how they'll get the VAT tax through, but that's not until next year
[11:46] {scottie} if holds .60
[11:46] {scottie} ok
01[11:46] {Threei}  :)
01[11:46] {Threei}  OK, I can't see this spike as sustainable if that report is all it was based on
[11:47] {nemo} no, but it came at major levels on the Qs finnies and IWM and was slightly above the earlier low on SPY
01[11:47] {Threei}  selling of the last week and half was not based on fiscal cliff
01[11:47] {Threei}  yup
01[11:48] {Threei}  that's a temporary relief caused by buying by misguided at the moment when selling overextended itself a bit
01[11:48] {Threei}  I don't think selloff ios anywhere near over
[11:49] {nemo} nah, this is it for a while
[11:51] {dino} out sina .30, +.50
[11:51] {dino} out clf .87, +.37
[11:52] {cipher} wtg
[11:59] {thomcbell} aapl i couldnt do it but nice 10 bucks in 30 minutes
[12:00] {scottie} BMC l .50 if holds .40 ?
[12:00] {scottie} too late
[12:03] {dino} out hov .63, +.12
[12:04] {scottie} C 35 if holds .90 ?
01[12:07] {Threei}  probably
01[12:07] {Threei}  I'd prefer aggressive entry on pullback
[12:07] {scottie} below .90 ?
01[12:08] {Threei}  on recross, yes
[12:09] {scottie} in .92
01[12:10] {Threei}  wityh stop under low of the pullback
[12:10] {scottie} stop .82
01[12:12] {Threei}  mastering new technique, eh? :)
[12:12] {scottie} half out
[12:12] {Will49} tks scottie
01[12:12] {Threei}  isn't it a beauty
01[12:12] {Threei}  aggressive entries are my favorite
[12:14] {scottie} out
[12:15] {scottie} yw will
[12:15] {Will49} still in
[12:16] {Will49} didn't trail stop...too tight IMHO
[12:19] {Will49} broke the rules I guess
[12:20] {Will49} now we'll see if I'm lucky
[12:21] {Will49} out
[12:21] {Will49} unlucky
[12:21] {scottie} could've worked
[12:22] {Will49} Yeah..thanks Scottie
[12:28] {scottie} yw
[12:30] {dino} out gps .70, +.25
01[12:38] {Threei} Long Setup:  FCX  37 break
[12:41] {thomcbell} aapl - lol
[12:43] {thomcbell} aapl just went up 4% from low and right to pivot at 529.32
[12:44] {nemo} did you short at the double top?
[12:44] {thomcbell} no i am sitting this out
[12:44] {nemo} you and that wuss cipher
[12:47] {thomcbell} short setup splk 28.63 break if holding 28.78
[12:55] {scottie} STX l .25 if holds .15 ?
01[12:55] {Threei}  hmmm
01[12:56] {Threei}  hard to tell
[12:56] {scottie} ok
01[12:56] {Threei}  will, let's check that fix... see if you got an e-mail pls?
[12:57] {thomcbell} splk invalidated
01[12:57] {Threei}  .20 break feels like short to me on STX
[12:58] {scottie} thought it was a JBE !
[12:58] {Will49} No..didn't get it
01[12:58] {Threei}  can't be
[12:59] {Will49} got it yesterday
01[12:59] {Threei}  new one went out 5 min ago
01[12:59] {Threei}  maybe not in box yet
01[13:00] {Threei}  it is a JBE, but fade looks more likely here
[13:00] {scottie} ok, in .19
[13:00] {Will49} well, maybe due to the vast distance between us it will take a while
[13:01] {Will49} I'm in too scottie
[13:01] {scottie} stop .25 ?
01[13:01] {Threei}  .26
[13:01] {scottie} tks
01[13:02] {Threei}  cover half
[13:03] {thomcbell} lvs again
01[13:03] {Threei}  easy money
[13:03] {scottie} half out
[13:06] {thomcbell} duh splk
[13:12] {thomcbell} short settup lvs 41.85 break if holding 41.95 Vad?
[13:12] {scottie} How did you see it was a short Vad ?
[13:13] {scottie} not short Vad but short, Vad
01[13:13] {Threei}  I think so tbell
01[13:13] {Threei}  lol
01[13:14] {Threei}  not sure i can put it in words, scottie... trying
01[13:14] {Threei}  there was a feeling of lack of energy
01[13:14] {Threei}  no drive
[13:15] {scottie} Mostly gut feeling, experience... ?
01[13:16] {Threei}  i guess
[13:17] {scottie} tks
[13:19] {thomcbell} lvs 1:1 if anyone did it
01[13:19] {Threei}  :)
[13:19] {Will49} got it tbell tks
[13:24] {scottie} Vad, do you think STX can give more than 1:2 ?
01[13:25] {Threei}  I doubt it
01[13:25] {Threei}  book it
[13:25] {scottie} tks
[13:26] {scottie} book it ?
01[13:26] {Threei}  book the profit
[13:26] {scottie} you mean sell now ?
01[13:26] {Threei}  cover rather
01[13:26] {Threei}  close position
[13:26] {scottie} of course, I mean cover
01[13:27] {Threei}  :)
[13:27] {scottie} out .04 +.15
[13:29] {Will49} still no email Vad
01[13:34] {Threei}  check junk box?
01[13:34] {Threei}  I saw it going out with my own eyes
[13:35] {Will49} nothing in junk either
[13:35] {Will49} I'm starting to feel jinxed...first mIRC now this
[13:36] {Will49} just kidding
01[13:36] {Threei}  guys, anyone has e-mail about star award for the 11 trades course?
[13:36] {scottie} yes
[13:37] {Les} y
01[13:37] {Threei}  ok, so it did go out
[13:37] {scottie} got it at 12:53
[13:37] {scottie} Will, do you have a category worst than junk, where you keep Vad ?
01[13:38] {Threei}  lol
[13:38] {Will49} should have
[13:39] {robbers} I got the email.
01[13:39] {Threei}  cool
01[13:40] {Threei}  do vote please when you got a min
[13:41] {Will49} sent you a test email Vad
[13:43] {scottie} voted
01[13:43] {Threei}  sent it back
01[13:43] {Threei}  thank you scottie
01[13:44] {Threei}  don't forget to click Submit after assigning a place :)
[13:44] {thomcbell} wow lvs certianly shaped up
[13:44] {Will49} got it Va
[13:44] {Will49} Vad
[13:46] {scottie} CVS l 45 ?
01[13:47] {Threei}  yes, with SPY help
[13:53] {scottie} in .01
[13:54] {Will49} moi aussi
[13:56] {thomcbell} lvs looks 2 sided here
[14:03] {Beau} back and yes on Star
01[14:03] {Threei}  :)
[14:15] {scottie} CVS still on trendline, but moving very slowly, moving stop to .94
01[14:15] {Threei}  good idea
[14:16] {scottie} SPY not helping very much here !
[14:16] {Will49} was stop move just because lot of time gone by?
[14:17] {nemo} I'm thinking spy kinda' hangs out between pivot and vwap into the post OP EX close
[14:17] {nemo} but if apple soils the bed linen it could get worse
[14:17] {scottie} .94 just below break of trendline
[14:18] {scottie} and SPY breaking down
[14:18] {nemo} yeah but spy only had .12 to pivot .18 to vwap
[14:19] {nemo} imo watch aapl on this pullback, look for it to weaken and then enter a short
[14:21] {nemo} as for me, I've cracked a bottle of anti-freeze before I go sit in a tree for a coupla' hours...communing with nature and all that
[14:21] {Will49} :)
[14:21] {nemo} btw this spy low is the 38.2 retrace off the top
[14:22] {Les} http://www.spiegel.de/international/business/playing-poker-with-trillions-a-prison-of-debt-on-both-sides-of-the-atlantic-a-867404.html
[14:23] {scottie} out
[14:23] {Will49} grrr as Vad says
[14:24] {Will49} apl did it nemo
[14:24] {Will49} appl
[14:24] {nemo} appl let go, this bottom is spy vwap and iwm pivot
[14:29] {nemo} very interesting, this aapl low is the the 38.2 off it's high.  I find the coincidences of relational moves entertaining
[14:29] {nemo} I'm tellin' ya' it's the PPT
[14:37] {dino} if it is, they aren't doing much
01[14:37] {Threei}  lol, no kidding
01[14:37] {Threei}  we are down 7+% in as many days
01[14:37] {Threei}  if that's not a plunge to protect from, what is
[14:41] {scottie} fwlt l 21 ?
01[14:42] {Threei}  no
[14:42] {scottie} ok
01[14:43] {Threei}  ot's either short into bounce or long after solid consolidation
[14:49] {scottie} NXY l .90 ?
01[14:50] {Threei}  no... pullback entrey, maybe
[14:50] {scottie} tks
01[14:51] {Threei} Short Setup: SLW  .65 break
[14:54] {Les} still valid?
01[14:55] {Threei}  yup
01[14:55] {Threei}  .75 is cutoff
01[14:58] {Threei}  not anymore
[15:00] {dino} .
01[15:02] {Threei}  NXY becomes inetersting here
[15:03] {scottie} .75 long ?
01[15:03] {Threei}  yup
01[15:03] {Threei}  with stop under .70
[15:05] {scottie} in .76
[15:06] {Will49} behind you till your nose bleeds
01[15:07] {Threei}  lol
[15:20] {dino} dfrg hl s .71
[15:33] {Les} SLW 36 break?
[15:34] {thomcbell} i thin so and gdx 46.34 break too
[15:34] {Les} thinking fade now. Not sure
01[15:34] {Threei}  can't tell
01[15:35] {Threei}  for SPY to break .50 and move, well... not impossible, but I don't want to bet on it
[15:36] {scottie} out -.07
[15:37] {Will49} -.08
[15:37] {thomcbell} very surprised by the difference in wynn and lvs this afternoon - wynn much closer to day low -
[15:40] {thomcbell} gdx 1:1
[15:40] {dino} cover dfrg .78 ave -.07
[15:42] {dino} calling it a week, thx all
[15:43] {Will49} Good weekend dino
[15:43] {Les} cheers dino
[15:43] {scottie} dino
01[15:43] {Threei}  take care dino
[15:43] {Les} me too. ciao
01[15:44] {Threei}  OK guys, let's call it a day/week
[15:44] {Will49} 10-4
01[15:44] {Threei}  thank you all, have a great weekend
01[15:44] {Threei}  don't forget to vote for that course
[15:44] {scottie} ok, good weekend all, see you monday
[15:45] {dino} ty

Nov 15 2012

Very nice day again, with plenty of winning trades. One below made Catch of the Day. Sometimes you feel as though you can see into the future... notice the call made in advance, before the setup has formed:

Session Time: Thu Nov 15 00:00:00 2012
[08:54] {scottie} good morning
01[08:55] {Threei}  scottie :)
[08:57] {scottie} Will be away for the first hour, catch you later
[09:09] {cipher} gm
01[09:09] {Threei}  cipher :)
[09:17] {nemo} mmmmhhh, we bottomed just above the  YR1 in the SPY
[09:20] {Will49} Good morning
[09:20] {Beau} good morning
01[09:20] {Threei}  will :)
01[09:20] {Threei}  beau :)
01[09:20] {Threei}  will, good news... we've found out why e-mails weren't reaching you
[09:21] {Will49} oh?
01[09:21] {Threei}  you've got yesterday's, right?
[09:21] {Will49} Haven't looked
[09:21] {Will49} will now
[09:22] {Will49} Yes, got it
[09:25] {Will49} tks for perservering
01[09:25] {Threei}  :)
[09:26] {Les} afternoon
01[09:26] {Threei}  les :)
01[09:26] {Threei}  so, election's over, and unadjusted initial claims explode by 104,548 in ONE WEEK
[09:26] {ese} morning............
[09:27] {Les} oh here you go with conspiracies again vad
01[09:27] {Threei}  ese :)
[09:27] {ese} was the storm........sandy
[09:27] {ese} that accounts for a wack of it
[09:28] {ese} but the other art is
01[09:28] {Threei}  and Europe is officially in double dip recession
[09:29] {Les} really?
[09:29] {ese} too many are messing around on husbands and wifves ....they don't have any time to work
01[09:29] {Threei}  Eurozone falls back into recession for the 1st time since 2009 as the 17-state economy contracts by 0.1%
[09:30] {ese} the US will have to bring them out of it
01[09:30] {Threei}  haha
01[09:31] {Threei}  and not to make light of it, but this was the stupidest headline in a good while:
01[09:31] {Threei}  (IS) US President Obama, Israel PM both agreed Hamas needed to stop attack on Israel
01[09:32] {Threei}  akin to "Ukraine and Argentina signed peace agreement between Moldova and Mongolia"
01[09:33] {Threei} Short Setup: FCX  .30 break hl
01[09:33] {Threei}  If holds  .40
01[09:33] {Threei}  two-sided
01[09:35] {Threei}  1:1
01[09:36] {Threei} Short Setup: JCP  .70 break
01[09:36] {Threei}  If holds  .75
[09:37] {cipher} meli l .28
01[09:37] {Threei}  FCX 1:2, out
01[09:39] {Threei}  (IS) Hamas said to reject any truce with Israel
01[09:40] {Threei}  Fitch ratings director Riley: Europe must deal with its sovereign debt crisis; should keep Greece in the EMU despite costs- Not expecting a Spain bailout request to come this year; labor market in Spain does not work - Expecting Spain to encounter a long period of painful economic situation - Notes that positive momentum generated during the past few months starts to slip amid political gridlock and the unlikelihood of further help from the euro-zone's central bank
01[09:41] {Threei}  *(CA) CANADA OCT EXISTING HOME SALES M/M: -0.1% V +2.5% PRIOR
[09:41] {nemo} Canada?
[09:41] {nemo} Is that a US protectorate?
01[09:42] {Threei}  you shut up, this is last island of sanity in the sea of overspending
[09:42] {ese} ;lol
[09:42] {nemo} Yeah, Island of Dr. Moreau
01[09:42] {Threei}  (US) Fed's Lacker (hawk, lone FOMC dissenting voter): More bond purchases may risk inflation; effects of stimulus on growth and jobs are less than what is believed- The bigger the Fed balance sheet, the riskier the wind down process will be. Withdrawal process will be uncharted territory. . - Calls the purchase of mortgage backed securities by the Fed is 'inappropriate.' - Cannot continuously buy more securities and increase the balance sheet without risking inflation.
[09:42] {ese} lol
01[09:43] {Threei}  you keep this up, we will allow Quebec to seceed and join USA
01[09:43] {Threei}  that'll show you
[09:44] {cipher} stmp l .15
[09:44] {nemo} yeah, they'll probably link up with Massachusetts.  THey don't call us Massholes for nothing
01[09:44] {Threei}  we will just need to evacuate scottie to BC first
[09:44] {nemo} like those liquid stocks, dont ya' cipher
[09:44] {ese} I'm listening to Warren Buffet............he says things are fine for the US...............he said that just becasue a buch of bumbling fools can't agree right now it won't send the US over the fiscal cliff...........
01[09:44] {Threei}  lol
[09:45] {ese} bunch
01[09:45] {Threei}  Buffet becomes a baffoon
01[09:45] {Threei}  fine?
01[09:45] {Threei}  with 16T debt and 1T annual deficit?
01[09:45] {Threei}  ideology trumps everything...
[09:46] {ese} if he ain't panicing...........i'm not panicing
01[09:46] {Threei}  why would he
[09:46] {Les} Buffet was selling US in August/Sep. talk about two face
[09:46] {nemo} mnst short here looks interesting
01[09:47] {Threei}  he can get 99% haircut and still have more hair than all of us combined
[09:47] {ese} can't disagree with that fact
[09:47] {nemo} Vad...an Armadillo could get a 99% haircut and have more than you
01[09:48] {Threei}  I guess...
[09:48] {ese} he seems like a friendly guy................think i'll pop over for coffee and talk it over with him
01[09:48] {Threei} Long Setup:  FCX  .15 break
01[09:48] {Threei}  If holds  .10
01[09:48] {Threei}  Invalidated
01[09:49] {Threei}  keeping SLW on watch to short into bounce
01[09:49] {Threei}  maybe long scalp first
01[09:52] {Threei} Long Setup:  FCX  .10 break
[09:52] {ese} by the way.......got stopped out of btu yesterday for -.28
01[09:52] {Threei}  If holds  37
[09:53] {nemo} IWM dropped lows Q's about to
01[09:54] {Threei}  crap
01[09:54] {Threei}  just prepared long slw .25 break alert
01[09:54] {Threei}  and it was at .35
[09:56] {ese} Congratulations.............huh.........the top of my Mbbit is say that i've just been given a 1 year free Green Card to work in the US..........under the US equal oppportunity program 50,000 to be given out
01[09:56] {Threei}  cool
[09:56] {ese} nemo.........can i come and work for you?
01[09:56] {Threei}  let's trail FCX to .04, was 1 cent shy of 1:1
[09:56] {ese} i'll feed the rabbit
01[09:56] {Threei} Short Setup: SLW  .40 break
[09:56] {cipher} out meli -.22
01[09:57] {Threei}  If holds  .50
[09:57] {nemo} weird
[09:58] {ese} me coming to work for you?
[09:58] {nemo} yeah
[09:59] {ese} lol
01[09:59] {Threei}  1:1
[09:59] {cipher} out stmp .29 +.14
01[10:00] {Threei}  ese, I am sorry to say but *(US) NOV PHILADELPHIA FED: -10.7 V 2.0E
01[10:00] {Threei}  tell us again Buffet, how everything's fine
[10:01] {ese} *(US) Q3 MORTGAGE DELINQUENCIES: 7.40% V 7.58% PRIOR; MBA MORTGAGE FORECLOSURES:4.07 % V 4.27% PRIOR - Source TradeTheNews.com
[10:01] {ese} ya but ........at least people can pay for there homes
01[10:01] {Threei}  and this is despite Prices Paid: 27.9 v 19 prior
01[10:01] {Threei}  no ese, we just run out of homes to foreclose
[10:02] {cipher} meli l.41
[10:02] {ese} your a tough nut to crack you are...............
01[10:02] {Threei}  400+K more went on food stamps in ONE MONTH of October
01[10:02] {Threei}  what homes?
[10:02] {ese} L btu .41
01[10:02] {Threei}  look in reality eyes for once
01[10:03] {Threei} Short Setup: LVS  .40 break
[10:04] {ese} 1/2 ,48 +.08
01[10:04] {Threei}  If holds  .50
[10:04] {ese} .49 sorry
06[10:05] * Les slaps ese with a penny
[10:06] {ese} very funny very funny.........everyones opps
01[10:06] {Threei}  Invalidated
[10:06] {ese} out btu .68
[10:07] {ese} + .26 balance
[10:07] {ese} as i was saying..........everyone wants to be a comedian
01[10:07] {Threei}  including Buffet
01[10:07] {Threei} Short Setup: FCX  .40 break
[10:08] {ese} am loving this stock...........think cash cow comes to mind
[10:08] {cipher} out meli .94 +.53
01[10:08] {Threei}  If holds  .50
01[10:08] {Threei}  nice one cipher
[10:08] {cipher} thx
[10:10] {cipher} stmp l.54
[10:14] {ese} good one with meli........C...........just looking at that man that was thin
[10:14] {nemo} made twiggy look fat
[10:15] {ese} i'll say
[10:15] {ese} good line
[10:16] {cipher} tna l .40
01[10:17] {Threei} Short Setup: C  .65 break
[10:17] {dino} out yesterdays idcc +.68
01[10:17] {Threei}  nice hold
01[10:18] {Threei}  change C to .70 break
[10:18] {dino} ty, lucky
01[10:18] {Threei}  If holds  .75
[10:18] {ese} and it's still climbing dino
[10:18] {dino} because i sold
[10:18] {ese} lol
01[10:19] {Threei} Short Setup: FCX  .50 break
[10:19] {ese} man...you and C are the kings of thin
01[10:19] {Threei}  If holds  .60
[10:19] {dino} he's my doppleganger
[10:20] {ese} well................everybodies gotta have one
01[10:20] {Threei}  lol
[10:20] {ese} nah...........should have one
01[10:21] {Threei}  half out LVS
[10:21] {ese} am outta here boyza......catch ya tomorrow
01[10:21] {Threei}  stop to .71
01[10:21] {Threei}  take care ese
[10:21] {ese} cya vad
[10:21] {Les} ciao dude
[10:21] {Will49} bye ese
[10:21] {ese} later les.nemo dino C
[10:21] {ese} will
[10:22] {cipher} out stmp .77 +.23
01[10:22] {Threei}  FCX, trail to .56
01[10:25] {Threei}  C, 1/4 more out
01[10:25] {Threei}  FCX 1:1
01[10:26] {Threei}  mailed the reversal on both
01[10:26] {Threei}  C particularly precise
01[10:27] {Threei}  111 Trades readers, everyone got the e-mail yesterday?
[10:28] {dino} y
[10:28] {Beau} on it now
[10:28] {Les} yes ty
[10:29] {Les} I even managed to unsuscribe myself at the same time
01[10:29] {Threei}  lol
[10:29] {Les} I'm like a dog chasing a car. you put a link and I'll click on it
01[10:29] {Threei}  btw, we tracked down the reason our Sunday Links e-mails weren't reaching some of you
01[10:30] {Threei}  if you still not getting them, let me know pls
[10:33] {dino} crus hl l .25
01[10:36] {Threei}  selling is welcome to resume any time now
01[10:37] {Threei}  (CA) Bank of Canada finds that a financial transaction tax (tobin) implementation worldwide is highly unlikely- Notes that a financial transaction tax would increase volitility and negatively impact growth
[10:37] {dino} finally somebody gets it
01[10:37] {Threei}  (US) Fed's Lacker: weary of using threholds to determine policy and discussing any financial transaction (tobin) taxes
01[10:37] {Threei}  meanwhile Europe implements it full speed
01[10:37] {Threei}  I've never seen a country or union so determined to destroy itself
[10:38] {nemo} well, that means lotsa' financial activity comes this way
01[10:38] {Threei}  unless Obama nods to it here too
01[10:38] {Threei}  but I find it unlikely
[10:38] {Les} when president Barosso is ex-Maoist it makes perfect sense to me Vad
[10:38] {Les} old ideology reborn
[10:39] {nemo} as in Maotse Dung=Stalinist?
[10:39] {Les} yeh
01[10:39] {Threei}  whole EU upper brass consists of former communists
[10:39] {Les} yeh
01[10:39] {Threei}  and there is no really such thing as FORMER communist
[10:39] {nemo} and we're led by an Islamocommunist go figure
[10:39] {nemo} the only good commie is a dead one
01[10:40] {Threei}  they adapt in their appearance, to fit to surroundings
01[10:40] {Threei}  but the core stays the same
[10:40] {nemo} can hear the Navy Captain I used to work for speaking in my head
01[10:40] {Threei}  today's Russian brass is a good example of that
01[10:40] {Threei}  once KGB, always KGB
01[10:41] {Threei}  out C in full
[10:41] {nemo} Once KGB now FSB
[10:42] {nemo} iwm spy long setup setting up
01[10:42] {Threei}  it's truly a wonder that in Canada, of all the countries, conservatives came to power and keep it for 3 elections already
01[10:42] {Threei}  keeping financials more or less in order
01[10:43] {Threei}  not pouring "stimulus" left andf right
01[10:43] {Threei}  and even withdrawing some
01[10:43] {Threei}  no wonder ese hates them either :)
[10:43] {dino} lol
[10:43] {Will49} PM is an economist also
[10:43] {Will49} is that good?
01[10:43] {Threei}  ummm... rarely, lol
[10:44] {nemo} rates right up there with weatherman and politician
01[10:44] {Threei}  but I have a lot of respect for this one
01[10:45] {Threei}  just don't tell anyone will, the'll ostracize me from extremely left Victoria... and I like it here :)
[10:45] {Will49} I'm with you
01[10:45] {Threei}  as long as I don't talk to people
[10:45] {Will49} NDP signs all over Fairfield
[10:45] {Will49} Saw Eliz May yesterday canvassing
[10:46] {Will49} Crossed the street so she wouldn't yap to me
01[10:46] {Threei}  can't believe she is my MP
[10:46] {Les} how rude Will
01[10:46] {Threei}  die already FCX
[10:46] {Will49} I know
01[10:47] {Threei}  1:2
01[10:47] {Threei}  good boy
[10:47] {Will49} She invented rude Les
[10:47] {Will49} She's leader of green Party, right down your alley :)
[10:48] {cipher} stmp l .65
[10:55] {scottie} NOW l .40 ?
[10:56] {scottie} forget it
01[10:56] {Threei}  already did
01[10:57] {Threei}  scottie, you were away while we mader some life changing decisions for you
01[10:57] {Threei}  we evacuate you to BC and sell Quebec to Massachusets
[10:58] {Will49} you can live in Vad's vodka storage room
[10:58] {dino} hl l plce .36
[10:59] {nemo} I'm taking a nap
[10:59] {scottie} I saw that, I've already called the moving company
01[10:59] {Threei}  man of action
[10:59] {scottie} Anything not to live near nemo
01[11:00] {Threei}  I thought that was important factor in getting your nod
[11:00] {scottie} lol
01[11:01] {Threei}  you'll ,like it here... third crop of roses just started blooming
[11:01] {Les} I understand u will
[11:01] {Les} Sierra club, American lawyer. Sounds like a fascist
[11:01] {Will49} You're the oly one Las
[11:01] {Will49} only
01[11:01] {Threei}  lol
[11:02] {Les} well regarding Eliz May. don't know bout rest of your life
[11:02] {Will49} She's a piece of work all right
[11:02] {Les} activist
[11:02] {scottie} In another life, I spent six months in Esquimalt, loved the weather
[11:02] {Les} hate that frikin word
[11:02] {Will49} Navy?
[11:03] {Will49} Scottie
[11:03] {scottie} aye aye sir
01[11:03] {Threei}  wow
01[11:03] {Threei}  respect
[11:03] {Will49} Half of our three-ship navy is based there
01[11:03] {Threei}  hehe
[11:04] {scottie} lol
[11:04] {Will49} Did you terrorize our women on shore leave?
[11:04] {nemo} got big volume on iwm on that bottom
01[11:05] {Threei}  and we do know how to put them to a good use - they help form starting line for the annual sailboat regatta, Swiftsure
[11:05] {scottie} That's where I smoke BC flags for the first time
[11:05] {Will49} :)
[11:05] {scottie} smoked
[11:05] {Will49} You'll fit right in Scottie
[11:06] {Will49} In fact, stay at my place and teach me how to trade
01[11:06] {Threei}  SLW is strangely strong
01[11:06] {Threei}  didn't expect it remain near high while SPY sells
[11:06] {scottie} ok Will, as soon as I learn myself
[11:06] {Les} Euro strengthening
[11:07] {Les} dollar testing support
01[11:07] {Threei}  I'll drop by for a coffee when you two get too comfortable
01[11:07] {Threei}  gotta disrupe that harmony
01[11:07] {Threei}  disrupt
[11:08] {Will49} Coffee and MJ for all
[11:08] {Les} was gonna call you a pussard Scottie, but I don't think that's the right word for navy guys
[11:09] {Les} been a long time since I was in uniform
[11:09] {nemo} perfidious Albion?
[11:09] {Les} you're a pussard nemo however
[11:09] {Will49} Girl Scout uniforms don't count Les
[11:09] {Les} it got me close to the girls will
[11:10] {Will49} oh no....you should get on Dr Phil show
[11:10] {nemo} double bottom on iwm spy and fas
01[11:10] {Threei}  watching CAT
01[11:10] {Threei}  bounce into .40 - .50 zone would be a short setup on .40 recross
01[11:12] {Threei} Short Setup: CAT  .40 break
01[11:12] {Threei}  If holds  .50
[11:13] {nemo} think we get a vwap run here
[11:13] {nemo} make it a two way....just a thought
01[11:15] {Threei}  CAT says short
01[11:16] {Threei}  1:1
01[11:16] {Threei}  1:2
[11:17] {Will49} Super call
01[11:17] {Threei}  made well in advance too
01[11:18] {Threei}  1:3, out
01[11:18] {Threei}  I have my moments
[11:18] {scottie} +.29 tks Vad
01[11:18] {Threei}  [11:18] {nemo} but they are getting fewer and farther between
01[11:18] {Threei}  yw
[11:19] {nemo} nice Vad
01[11:19] {Threei}  hmmm...
06[11:19] * Threei slants at nemo ascance
[11:20] {robbers} Out CAT, thanks.
01[11:20] {Threei}  yw
[11:21] {Will49} tks Vad, got 1:2 and bailed :(
[11:21] {Will49} need patience
01[11:21] {Threei}  it'll come
01[11:22] {Threei}  you are not used to real bear market yet
01[11:22] {Threei}  it drops... and drops... and drops...
[11:22] {Will49} remember, I don't even buy green bananas
01[11:22] {Threei}  and when it totally looks like reversing, it drops again
[11:24] {Will49} my Scottish ancestry gets in my way
[11:24] {Will49} a peny saved etc
[11:24] {Will49} penny
[11:24] {Will49} working on that
[11:25] {Will49} need to be an abundance guy
[11:26] {Will49} I know Vad...the Taoist Trader book
[11:26] {Will49} As soon as I save enough pennies :)
[11:27] {nemo} and then you come study with me
[11:28] {Will49} graduate school?
01[11:28] {Threei}  meanwhile you can watch nemo giving lecture on Taoism
01[11:28] {Threei}  if he is so kind to share the link
[11:28] {nemo} well, kinda, that was to a bunch of college kids
[11:28] {nemo} it was Taoism lite
[11:28] {nemo} can't scare them
01[11:28] {Threei}  huh?
01[11:29] {Threei}  you must
[11:29] {nemo} camouflage
01[11:29] {Threei}  otherwise they'll go through life fat, drunk and stupid
[11:29] {nemo} most people do
[11:29] {Les} sounds good
[11:29] {nemo} the "herd" of man
[11:30] {nemo} http://ezwp.tv/V6h7dkuR
01[11:31] {Threei}  that was nemo's visual...
01[11:31] {Threei}  this mine: http://goo.gl/KYs92
[11:35] {Les} wow SLW
01[11:35] {Threei}  it's strange today
01[11:35] {Threei}  disconnected from market
[11:36] {scottie} AEP l 41 ?
01[11:37] {Threei}  not really delighted
[11:37] {scottie} ok tks
[11:40] {scottie} cvs l 45 ?
01[11:42] {Threei}  I'd orefer pullback entry on it
01[11:42] {Threei}  from under .90
[11:42] {scottie} ok
[11:46] {Les} tza here?
[11:46] {Les} under .75?
01[11:46] {Threei}  probably... just hard to expect much from it
01[11:50] {Threei}  it seems stinky substance hits the fan
01[11:50] {Threei}  (IS) Air raid sirens being reported to have been heard in Tel Aviv in addition to explosions - press- Rockets said to have hit Tel Aviv, no casualties reported - Follow up: Chatter circulating that Egypt has closed the border with Israel
[11:50] {dino} those idiots are going to start a war
[11:50] {nemo} this is spy gap going back to 8/2
01[11:51] {Threei}  ok, we need ese to come back for a min, to talk about those mortgages:
01[11:51] {Threei}  (US) House Financial Service Commitee Chair Rep Bachus (R-AL): FHA will need Treasury bailout within one month- Reminder: yesterday reports circulated that the FHA was nearing a point at which it could run out of reserves due to rising mortgage deliquencies; may ask for taxpayer money for the first time
[11:52] {dino} funny how they hid that until aftr election
01[11:52] {Threei}  that, and a lot of other things
[11:52] {dino} no kidding
[11:52] {nemo} oh boy:  http://video.cnbc.com/gallery/?video=3000129595&play=1
[11:53] {nemo} oh shit, don't pay attention to the guy behind the curtain
[11:57] {Les} SELL SELL SELL
[11:57] {nemo} yes Mortimer
[11:57] {Les} remember his mission statement is only to discuss what the serious investors are doing
[12:15] {Les} TZA 19 or bust
01[12:15] {Threei}  not bad
01[12:15] {Threei}  I didn't expect even this
01[12:19] {Threei}  SHOOT FOR THE MOON
01[12:19] {Threei}  Even if you miss, you'll land among the stars. Of course, then your eyeballs will boil and your lungs explode from decompression. But that's what you get for being a damn showoff.
[12:21] {Les} I see Netanyahu has January elections
[12:23] {robbers} Simple solution for Israel vs. Palistine.  Palastinians want a state....give them Mississippi.  We're not using it anyway.
[12:23] {Will49} lol
[12:24] {nemo} this higher low is off the 8/2 gap bottom
01[12:24] {Threei}  bit robbers... do you want ropckets landing in Alabama and Louisiana?
[12:24] {robbers} Sure.
[12:24] {robbers} Especially Alabama.
01[12:25] {Threei}  Tennessee?
01[12:25] {Threei}  Arkansas?
01[12:25] {Threei}  if you say yes, you can have them :)
[12:27] {robbers} I draw the line at sacrificing Alabama.  But they wouldn't fire rockets there anyway, bama doesn't allow Jewish people to live there.
[12:32] {robbers} I'm Jewish and have visited bama, not all that hospitable, but they did allow me to use one of their golf courses for a few hours.  Nice of them.
01[12:32] {Threei}  christmas tree for nemo: http://goo.gl/SeI8Q
01[12:33] {Threei}  and nemo's idea of a good time: http://goo.gl/C3mM8
01[12:36] {Threei}  Les, you out TZA?
[12:36] {Les} never got in it
[12:37] {Les} been wanting to leave for Aikido. Missus finally got home
01[12:46] {Threei}  will, you are the lucjkiest one here
01[12:46] {Threei}  Two early morning cougar sightings today around the Ross Bay Cemetery.
[12:46] {Will49} I'm running outside right now!
01[12:47] {Threei}  that's like 3 min from your place?
[12:47] {Will49} Hope it doesn't eat any of the little old ladies around here
[12:47] {Will49} Yes, one block
[12:48] {Will49} But I do hope it eats the two jack Russell terriers across the street
[12:48] {Will49} they drive me nuts
01[12:48] {Threei}  lol
[12:49] {Will49} I think I'll volunteer to take them for a walk today :)
[12:51] {Will49} scottie..bit of navy trivia about Esquimalt
01[12:51] {Threei} Short Setup: CVS  .80 break
[12:59] {Will49} British Navy set up base there in early 1860s and there are dozens of sea captains burried in Ross Bay cemetary
[13:00] {nemo} want to take tna long here but it would be more out of boredom than conviction
01[13:02] {Threei}  [17:35] {dptl} hey Vad, hopefully come back in the month or so.....say hi to everyone :)
[13:02] {nemo} that when he gets out of detox?
01[13:06] {Threei}  (IS) Israel Defense Min Barak: Hamas earlier rocket attack is considered an escalation and a price will have to be paid
01[13:10] {Threei}  52% View #Petraeus Resignation As Appropriate
01[13:11] {Threei}  maybe but I don't remember MLK, JFK or Bill Clinton resigning
[13:11] {Will49} different world Vad
01[13:14] {Threei}  CVS new low
01[13:14] {Threei}  whole cent lower... etc, you know the routine
[13:15] {Will49} let's hope Bernank doesn't screw this up for us
[13:22] {nemo} yeah, guess I shoulda' taken that boredom trade
01[13:25] {Threei}  (US) Fed's Bernanke: Fed will continue to use policy to boost economic recovery; it is likely that lending has swung too far towards tigher standards- Notes that mortgage lenders tightened standards in 2007 and havent eased off - Sees housing sector improving and adding to growth; a weak housing market can be powerful headwind to an economic recovery - Calls on lenders to rent out their foreclosed homes
[13:34] {dino} lenders should be liquidating their foreclosed homes
[13:35] {Will49} and how does more renting lighten the headwinds?
[13:36] {Will49} a weak housing market is powerful headwind to bank profits
01[13:38] {Threei}  they are just eager to reinflate this thing
01[13:39] {Threei}  instead of rational thinking, which would lead therm to a question:
01[13:39] {Threei}  what is the natural level of demand, without people overextending themselves?
01[13:39] {Threei}  if it reached yet?
01[13:39] {Threei}  if we are under that level, sure, loosen lending standards
01[13:40] {Threei}  if we are above it, we need more tightenting, or at least waiting
[13:41] {Will49} oh but that makes so much sense...what are you thinking?
[13:41] {Will49} or as they say around here, what are you smokin'
[13:50] {nemo} this might be the bottom
01[13:51] {Threei}  for now
[13:51] {dino} until 3 pm lately
[14:16] {Les}  CVS selling off again
01[14:21] {Threei}  and works this time
[14:22] {Les} my second entry. 1st was good for a scalp. I am short .73 here half out
[14:27] {nemo} slb probably now
[14:32] {dino} osis crushed
01[14:40] {Threei} Long Setup:  FB  .10 break
01[14:41] {Threei}  If holds  22
[14:54] {robbers} Yet another surgical call on FB, nice.
[14:54] {thomcbell} made a sale here on fb thanks Vad
01[14:55] {Threei}  1:2
01[14:55] {Threei}  closed it
01[14:55] {Threei}  yw guys
[14:58] {Will49} tks Vad +.22
01[14:58] {Threei}  :)
[15:02] {robbers} wtg Will.
[15:02] {Will49} tks
[15:03] {Will49} incremental progress every day
[15:05] {thomcbell} nasty tape
01[15:10] {Threei}  beauty is in the eye of the beholder :)
[15:10] {thomcbell} yes
[15:11] {Les} I'd be a lot happier if I'd gotten my TZA entry correct. Took .75 break and then refused to buy VWAP bounce at .65 shortly afterwards...
[15:11] {Les} incredibly ugly tape
[15:11] {Les} :)
[15:12] {dino} dnb drop
[15:12] {dino} i see we are getting the 3 pm drop again
[15:15] {Will49} guess I'll have to help him fix that ping
01[15:17] {Threei}  hehe
01[15:25] {Threei} Short Setup: GDX  46 break
01[15:25] {Threei}  If holds  .10
[15:28] {thomcbell} slw looks like a 0.47 break too
01[15:29] {Threei}  targeting 1:3 on GDX
[15:29] {thomcbell} slw 1:1
01[15:29] {Threei}  wtg
01[15:30] {Threei}  1:1 GDX
[15:39] {Les} got a lick of paint to do before bed. c u's tomorrow.
01[15:39] {Threei}  don't sniff it Les
[15:40] {Les} lick, not sniff
01[15:43] {Threei}  lol
01[15:43] {Threei}  (US) Fed's Fisher: Congress has been disgraceful on the fiscal issues; reiterates Fed should not take the "Buzz Lightyear" approach (to infinity and beyond) on purchases- Note the Fed cannot purchase treasury and mortgage debt indefinitely - Comments that legislators in the US have become "parasitic wastrels"
[15:45] {thomcbell} i guess everyone was caught leaning there
[15:45] {thomcbell} nic elittle rally
01[15:47] {Threei}  Congress, punting and getting red in face: You... you... parasitic wastrel enablers!!
01[15:48] {Threei}  panting too
[15:51] {Will49} Tks Vad...interesting day
[15:52] {dino} out plce .86, +.50
01[15:53] {Threei}  wtg
01[15:53] {Threei}  ok guys, thank you
01[15:53] {Threei}  have a great evening
01[15:53] {Threei}  see you tomorrow