Dec 10 2012

Very low volume slow trading with no spark whatsoever. Squeezed barely profitable day but whether it was even worth waking up for remains open question.

Session Time: Mon Dec 10 00:00:00 2012

01[09:01] {Threei}  yawn... I guess it's time to face the reeality

01[09:01] {Threei}  wow, everyone is asleep yet

[09:07] {ese} "Have yourself a merry little trading time........Let the yule.........."   altogether now!!!!!!  "Have yourself...........

01[09:07] {Threei}  lol

[09:07] {ese} hmmmmmmmmm......tough crowd

01[09:07] {Threei}  morning ese

[09:07] {ese} morning

01[09:07] {Threei}  everyone's asleep yet

01[09:08] {Threei}  the farther in the winter, the closer to market opening people come in

[09:08] {ese} tis the season to party your brains out for sure..........takes mon, tue and wed to recover and then back at it for the next couple of weekends

01[09:09] {Threei}  yeah, I hate mon, tue, wed, thu and half of fri

01[09:11] {Threei}  if you want to enrtain yourself meanwhile, have a look at this: http://acrossthestreetnet.wordpress.com/2012/11/28/the-cost-of-kidding-yourself/

[09:14] {dino} gm

01[09:15] {Threei}  dino :)

[09:16] {ese} thats an excellent article.......where did you find that

01[09:16] {Threei}  stumbled onto it somwhere on interenet

01[09:17] {Threei}  that's where ben and the rest of free-spending crowd takes us

[09:18] {Beau} good morning

01[09:18] {Threei}  beau :)

[09:18] {scottie} good morning

01[09:18] {Threei}  scottie :)

[09:18] {ese} beau scottie

[09:19] {scottie} ese

[09:21] {Will49} good morning

01[09:21] {Threei}  will :)

[09:22] {ese} will

[09:22] {Will49} :)

01[09:23] {Threei}  anyone guess whose photo it is? (if he were a cat that is)

01[09:23] {Threei}  http://goo.gl/b10mL

[09:23] {patel} Good Morning room!!!

01[09:23] {Threei}  patel :)

[09:24] {ese} patel

[09:24] {ese} ok I give up........excellent photo though

[09:24] {Will49} Nemo?

01[09:24] {Threei}  of course

01[09:24] {Threei}  come on ese... who here doesan't believe mornings can be good

[09:24] {ese} rotflol

[09:25] {ese} good one will

[09:25] {Will49} hope that's the beginning of a winning streak

[09:26] {ese} i thought you were talking about some political nutball

[09:26] {Will49} well?

01[09:26] {Threei}  just a nutball, ese {G}

[09:26] {ese} lol

[09:27] {ese} could say a whole lot worse

[09:27] {ese} we'll leave it at nutballl for now

01[09:27] {Threei}  my feeling is, selling is about to resume, but I'll prefer to sit out first minutes

01[09:27] {Threei}  JPM is interestingly weak

[09:27] {ese} spyders have been sliding for about 30 min now

01[09:28] {Threei}  keeping an eye for possible short

[09:28] {nemo} MCD 

01[09:28] {Threei}  FCX on the other hand...

01[09:28] {Threei}  rather long but let's let it workm out opening volatility

01[09:29] {Threei}  MCD decent report

[09:30] {thomcbell} FB im looking for a long entry 

01[09:31] {Threei} Short Setup: JPM  .50 break

01[09:31] {Threei}  If holds  .60 

[09:32] {thomcbell} fcx tested daily pivot there at 31.80 

01[09:32] {Threei}  not yet, JPM

01[09:33] {Threei} Long Setup:  FCX  .95 break hl

01[09:33] {Threei}  If holds  .85 

01[09:34] {Threei}  target 1:3

01[09:36] {Threei}  no go

01[09:36] {Threei}  1 cent to 1:1

01[09:36] {Threei}  probably rinse

[09:37] {thomcbell} short setup lvs 43.90 break if holding 44

[09:37] {nemo} shorting into support and daily pivot

[09:38] {nemo} keep the lube handy

[09:39] {thomcbell} ok thanks 

[09:39] {nemo} not that I might not be wrong, just looking at the chart

01[09:40] {Threei} Long Setup:  SLW  .40 break

01[09:40] {Threei}  If holds  .30 

01[09:40] {Threei}  frikin JPM

01[09:40] {Threei}  got away

[09:40] {robbers} wash. rinse. repeat.

01[09:40] {Threei}  Monday open... often like this

01[09:41] {Threei}  OK SLW, be a good boy

01[09:42] {Threei}  give us 1:3

[09:43] {ese} L geo .34

[09:43] {ese} popped up on me ....awesome

01[09:43] {Threei}  nice

[09:44] {ese} 1/2 .55 +.21

[09:45] {dino} gj

[09:45] {ese} tks

01[09:46] {Threei}  let's trail to .34

01[09:46] {Threei}  1:1

01[09:46] {Threei}  from here by the book

[09:47] {thomcbell} FB 27.60 braek if holding 27.50

[09:47] {dino} jwn hl l .37

01[09:47] {Threei}  let me repeat: frikin JPM

01[09:47] {Threei}  smelled this weakness early, drops now despite market strength

[09:48] {thomcbell} FB 1:1 for half a second 

01[09:49] {Threei}  SLW 1:2

[09:51] {thomcbell} FB stop is break even here 

01[09:52] {Threei}  out last piece on a trail

[09:52] {thomcbell} i managed to sell 1/2 at 1:1

01[09:52] {Threei}  keep ana eye on HPQ for pullback entry

[09:52] {robbers} Thanks, slw.

01[09:52] {Threei}  yw

01[09:52] {Threei}  ideally from under 14.20

[09:53] {thomcbell} long setup AIG 33.52 break if holding 33.42

01[09:53] {Threei}  Icahn rumor

[09:53] {nemo} gmcr

01[09:53] {Threei}  (US) Staff meetings yesterday following President Obama and House Speaker Boehner discussions said to have yielded no progress - financial press

[09:54] {patel} missed MCP 

01[09:54] {Threei}  (US) US Sep SNAP (food stamps) participation: 47.7M people (record high) v 47.1M prior- update

01[09:54] {Threei}  - Supplemental Nutrition Assistance Program (SNAP) accounted for 14% of US retail grocery store sales in the month

01[09:54] {Threei}  - Average benefit per person: $134.29

01[09:54] {Threei}  - Average benefit per household: $278.89

[09:55] {dino} obummers legacy

01[09:56] {Threei}  and it's going to get worse before it gets better I suspect - approval rating isd at 58%, new post-election high

01[09:56] {Threei}  people have spoken

[09:56] {nemo} election honeymoon, plus there is no longer a candidate to contrast

[09:57] {Beau} nemo, gonna watch the pats tonight?

01[09:57] {Threei}  nemo the optimist... who knew...

[09:57] {nemo} ?

01[09:57] {Threei}  come on HPQ, dive

[09:57] {ese} out full geo .51 +.17 

[09:57] {ese} L nuan .01

[09:58] {thomcbell} FCX looking for a long set up to surface - that was a nice thrust off the low 

[09:58] {Beau} thought you were a new england fan

[09:58] {nemo} ?

01[09:59] {Threei}  FCX, pullback under .60 will give you nice double bottom setup

[09:59] {nemo} oh, yeah, I live 20 min. from the stadium

[09:59] {Beau} going?

01[09:59] {Threei}  may have to be quick on recross

[10:00] {nemo} no...I don't like going to games.  I used to work on the field

01[10:00] {Threei} Long Setup:  FCX  .60 break

[10:01] {thomcbell} AIG 1:1

01[10:01] {Threei}  If holds  .50 

[10:01] {nemo} spy continues to hold trend line upward from the beginning of the month

[10:01] {ese} nuan......do it!

[10:02] {ese} no wait.......dont do that

01[10:02] {Threei}  huh... no go FCX

[10:04] {thomcbell} sold another 1/4 aig 33.70 stop 

[10:04] {ese} yes....do that

[10:04] {nemo} fcx here

[10:04] {thomcbell} Flat AIG 33.65

[10:07] {nemo} grind up day

[10:07] {patel} VRSN 37 break thoughts

01[10:08] {Threei}  too far from current price to tell without seeing how it gets there

[10:12] {nemo} mcp breakout anybody?

[10:12] {thomcbell} fcx 31.51 break if holding 31.38 

01[10:13] {Threei} Long Setup:  GLD  160 break

01[10:13] {Threei}  If holds  .90 

[10:14] {thomcbell} target is 1:3 on FCX - which is the pivot 

01[10:14] {Threei}  if GLD invalidates, let's watch for .90 break entry

[10:17] {Will49} short entry?

[10:17] {dino} fds sm s .10

01[10:17] {Threei}  no

01[10:17] {Threei}  long

[10:17] {Will49} tks

[10:21] {dino} bke drop

01[10:21] {Threei} Long Setup:  GLD  .90 break

01[10:21] {Threei}  If holds  .80 

[10:21] {dino} infi spike

01[10:23] {Threei}  nice one FCX

[10:23] {thomcbell} FCX 1:1

[10:23] {thomcbell} trying to hold the rest with a trail 

[10:24] {thomcbell} 1:2

01[10:24] {Threei}  wtg

[10:24] {thomcbell} 1:3

[10:25] {patel} awesome Tbell!!

01[10:25] {Threei}  GLD half out

[10:25] {Will49} nice

01[10:25] {Threei}  1:1

[10:25] {thomcbell} 1/4 remaining - 31.60 stop 

01[10:25] {Threei}  ahh, FCX had news

01[10:25] {Threei}  just in time :)

01[10:26] {Threei}  luck favors prepared mind!

01[10:26] {Threei}  FCX Hearing chatter Arcelor Mittal could take a stake in the company

[10:26] {thomcbell} lol

01[10:26] {Threei}  10:24, perfgect timing

01[10:27] {Threei}  this is high class trading tbell p chart is right, and trading gods look favorably at the one who trades right, sending such gift :)

[10:29] {thomcbell} thanks Vad 

01[10:29] {Threei}  don't view it as random and pure luck

01[10:30] {Threei}  my experience is, the better you trade the more you get this kind of external help

[10:30] {thomcbell} raising stop to 31.68 on fcx

01[10:30] {Threei}  as if universe aligns to help you when you do things right

[10:30] {nemo} gmcr C&H

[10:31] {dino} fds stop 

[10:31] {thomcbell} out fcx

[10:31] {nemo} sell the news

[10:40] {patel} kicking myself over MCP... I have been watching this stock since Friday. I even had 9.06 as my target but it popped right away. 

[10:42] {dino} tbell, some people create their own luck

[10:42] {dino} six hl l .00

[10:42] {thomcbell} i totally agree Vad 

[10:47] {scottie} out +.18 tks Vad

01[10:47] {Threei}  1:2

01[10:47] {Threei}  yw

01[10:47] {Threei}  allow me once again to profess love for aggressive entries

[10:54] {dino} 07 green

[10:57] {robbers} Out GLD, thanks.

[10:58] {thomcbell} nice looking cup forming on the 1 min on FCX 

01[10:58] {Threei}  :)

[11:02] {nemo} boy if they ever make progress on the FC we'll be at new yearly highs in an instant.  No selling at all across the indexes

[11:04] {thomcbell} FCX pattern failure - 

[11:06] {nemo} http://www.businessinsider.com/scott-mead-photography-2012-12#dancing-trees-1975-6

[11:08] {scottie} cmcsk l .30 if holds .25 ?

01[11:18] {Threei}  sorry scottie, missed the question

[11:18] {scottie} in .31, not looking good

01[11:18] {Threei}  at you in?

01[11:18] {Threei}  ok

01[11:18] {Threei}  I'd keep .24 stop

[11:19] {scottie} out

[11:21] {dino} jw/a hl l .96

[11:21] {dino} eqt hl l .04

01[11:31] {Threei}  wow... market stopped

[11:31] {thomcbell} FB 27.88 break if holding 27.80

[11:36] {dino} out six -.06

[11:36] {dino} gco hl l .39 gappy

[11:45] {nemo} finnies new high, should take the indexes with it

[11:51] {thomcbell} im tightening stop on FB to 27.84 - im losing confidence in the play 

[11:53] {dino} out eqt .38 ave +.34

[11:55] {Will49} good one dino

[11:55] {Will49} in a slow market

[11:55] {dino} ty

[11:56] {dino} really slow market, not finding much

[11:56] {Will49} is it waiting for news?

[11:57] {dino} no idea. just seems that every month volume dries up a bit more

01[11:57] {Threei}  will, seems to me market is totally driven by the developments in that diotic fiscal cliff negotiations

01[11:58] {Threei}  no fresh heandlines, things are dead since no one wants to commit

01[11:58] {Threei}  finers are on the buttons to react quickly if news comes

[11:59] {Will49} tks guys

[12:02] {dino} finers?

[12:05] {dptl} good morning all

06[12:05] * nemo faints

01[12:05] {Threei}  dp!

[12:05] {dino} good afternoon dp

[12:07] {dptl} how's everything?

[12:07] {robbers} DP, cool, welcome back!!

01[12:08] {Threei}  last week was beautiful

01[12:08] {Threei}  this one starts slow

[12:08] {dptl} cc_8 ..dcc please

[12:09] {cc_8} hi ok

01[12:10] {Threei}  (ID) 7.4 magnitude earthquake is said to have occurred offshore Indonesia, no Tsunami threat in Indian ocean

01[12:10] {Threei}  (US) House Speaker Boehner Aide: The speaker is waiting for a new fiscal cliff proposal from President Obama- Reiterates that Boehner's offer from last week remains the GOP's main offer. - Talks with the White House are taking place - Follow up: White House indicates that the lines of communication remain open, optimistic sides can reach an agreeement

01[12:19] {Threei}  (US) Group of Democratic Senators said to be pushing for delay of Obamacare medical device tax

[12:27] {Will49} hey dp good to see you back

[12:27] {dptl} hey Will :)

01[12:27] {Threei}  dp, ese disconnected before you came in, and AI think he did it for a reason - he went to hide the girsl

01[12:27] {Threei}  girls

[12:28] {dptl} lol sure.... damn musicians :)

[12:35] {scottie} MPC s .00 if holds .10 ?

01[12:37] {Threei}  yesm hl

01[12:37] {Threei}  can be fast

[12:37] {scottie} tks

01[12:44] {Threei}  with any help it has nice potential to 1:3 - 1:4

[12:45] {nemo} one could argue indexes setting up long again soon

01[12:46] {Threei}  if SPY loses .60, one would be wrong

[12:47] {nemo} yeah, then support is around .50ish

01[12:47] {Threei}  but one can always drink oneself into oblivion and forget about it

[12:47] {Will49} thinkin' bout that

[12:47] {dino} no kidding, this is slower than friday afternoon

01[12:47] {Threei}  one also must invite me to keep company

[12:47] {Will49} :)

[12:48] {scottie} in .99

01[12:50] {Threei}  here comes one's coveted selling

[12:51] {Will49} you're really into coveting this morning Vad

01[12:52] {Threei}  I am?

[12:53] {Will49} yes, you coveted aggressive entires earlier

[12:53] {Will49} entries

01[12:53] {Threei}  ahhh

[12:54] {Will49} make sure you don't covet your neighbour's wife :)

01[12:54] {Threei}  never

01[12:54] {Threei}  his shoulders wider than my house

[12:55] {Will49} the husband you mean

[12:55] {dptl} lol

[12:55] {Will49} not wider than an AK47 however

[13:02] {scottie} stop .01

[13:02] {scottie} half out

01[13:03] {Threei}  1:1

[13:06] {scottie} 1/4 more out, stop .91

01[13:06] {Threei}  1:2 baby

01[13:07] {Threei}  I am going for 1:4

[13:07] {Will49} tks scottie

[13:07] {robbers} out MPC, thanks Scottie.

[13:07] {scottie} yw

[13:08] {scottie} 1:3 out

[13:08] {patel} great job scottie

[13:08] {Will49} good patience scottie

[13:08] {nemo} finnies barely dropped

[13:08] {scottie} tks

[13:09] {Will49} don't look at it scottie :)

[13:09] {robbers} You can look, just don't covet.

[13:09] {scottie} lol

[13:09] {Will49} :)

01[13:12] {Threei}  on its course to becoming word of the day I see :)

01[13:12] {Threei}  hmmm... why do I find this tstrange:

01[13:12] {Threei}  (CO) IMF's Lagarde: Worldwide economy not as strong as Colombia's

01[13:12] {Threei}  huh?

[13:14] {scottie} We should all start growing coca then

[13:17] {Will49} We have crop in BC that's just as good and doesn't need warm weather :)

[13:17] {Will49} BRITISH Columbia that is

[13:17] {scottie} :)

[13:18] {Will49} that's what I've heard anyway

[13:21] {robbers} And you heard it via what media, a smoke signal?

01[13:21] {Threei}  lol

01[13:22] {Threei}  my latest shedever

01[13:22] {Threei}  http://goo.gl/3QA0m

[13:23] {Will49} it's a great "reflection" of your talents

01[13:23] {Threei}  no smoke involved

[13:23] {Will49} good one robbers

[13:33] {nemo} ok long here looks good

[13:36] {dino} rgr drop

[13:36] {scottie} stx l .80 if holds .75 ?

[13:36] {dino} rgr hl l .03

01[13:37] {Threei}  can't tell scottie

01[13:37] {Threei}  not sure

[13:37] {scottie} ok

[13:41] {thomcbell} FB - i cant resist - 27.95 break if holding 27.85

[13:42] {thomcbell} "they" are going to try to gun this thing 

[13:43] {thomcbell} some decent size offers at 28 it loks like but this is a nice pattern 

[13:47] {scottie} SNY l .30 ?

[13:49] {thomcbell} FB 1:1

01[13:49] {Threei}  wtg

[13:49] {scottie} good call FB tbell

01[13:49] {Threei}  SNY, probably

[13:50] {scottie} stop .24?

01[13:50] {Threei}  yeah

01[13:53] {Threei}  beauty FB

[13:54] {nemo} gmcr

[13:56] {thomcbell} thanks guys

[13:56] {Will49} you da man

[13:59] {robbers} wtg.

01[14:03] {Threei}  NYSE volume 290M shares, about 16% below its three-month average;. - NASDAQ volume 920M shares, about 15% below its three-month average

[14:08] {dino} pitiful

[14:10] {thomcbell} fcx 32 break i holding 31.90 

[14:11] {thomcbell} sorry i was late  typing 

[14:11] {thomcbell} it looks to good to be true  Vad - 

[14:11] {thomcbell} too obvious

01[14:13] {Threei}  still looks this way to me :)

[14:15] {nemo} looking for finnies to bounce in next few cents

[14:25] {thomcbell} im playing FCX by the book due to market hesitation but otherwise this would not be a scalp for me 

[14:27] {thomcbell} fcx 1:1

[14:27] {thomcbell} stop to break even

[14:31] {thomcbell} SPLK looks very vulnerable on the daily and hourly charts here 

[14:35] {thomcbell} raising stop to 32.04 on FCX 

[14:39] {nemo} How's ur chin vad?

01[14:39] {Threei}  bruised

[14:39] {thomcbell} fcx out 32.04

[14:39] {nemo} srpt

01[14:40] {Threei}  bless you

[14:40] {nemo} oops

01[14:48] {Threei} Short Setup: SLW  .75 break

01[14:48] {Threei}  If holds  .80 

[14:51] {nemo} tna worth a try here

[14:56] {patel} how deos NTES look

[14:56] {patel} 37.30 with stop of 37.40

01[15:00] {Threei}  half lot

[15:02] {patel} 1:1

01[15:03] {Threei}  nice setup

[15:03] {dino} out rgr .40, +.37

01[15:03] {Threei}  wtg

[15:04] {dino} ty

01[15:04] {Threei} Short Setup: FCX  .05 break

01[15:04] {Threei}  If holds  .15 

[15:12] {nemo} fcx ;ppls ;pmg

[15:12] {nemo} right looks long

01[15:13] {Threei}  probably two-sided...

[15:15] {patel} NTES 1:2 out

[15:16] {robbers} good call, Patel

[15:16] {patel} whoa

[15:16] {patel} what happen to NTES 

[15:16] {patel} bid was higher than ask for a second there

[15:17] {patel} glad I got out at the rigth time

01[15:24] {Threei}  Mitsubishi Chemical Holdings Corp. Suspended plans to invest additional �30B by 2015 to increase production of lithium ion battery materials - Nikkei News- Report noting the company anticipated rising demand for the materials uses in electric vehicles, but demand for EVs appear to be slow.

01[15:25] {Threei}  if that was goverment it would push forward anyway, resulting in another loss for taxpayers

[15:27] {scottie} aet l .80 ?

01[15:27] {Threei}  not delighted

[15:27] {scottie} ok

01[15:27] {Threei}  can turn double top just as easy

01[15:27] {Threei}  50/50

[15:28] {nemo} time for spy to piss me off and make a run north

[15:28] {nemo} crissakes iwm chart starts to look like a rebate trader

[15:29] {nemo} yeah, indexes will finish on the highs

01[15:37] {Threei}  OK, we need the conflicting headlines to start flying again

01[15:37] {Threei}  otherwise spooked market won't move, like a deer in headlights

[15:38] {nemo} any economic news tomorrow?

01[15:39] {Threei}  major, no

01[15:39] {Threei}  among numbers, IBT/TIPP economic optimism

01[15:39] {Threei}  NFIB Optimism (small business)

01[15:40] {Threei}  that's about it

[15:40] {nemo} o.k. so it'll be headline driven 

01[15:40] {Threei}  FOMC on Wed

01[15:40] {Threei}  and bidget statement

01[15:40] {Threei}  budget

[15:41] {nemo} Gromyko

01[15:41] {Threei}  and Ben's press-focnference

01[15:41] {Threei}  lol

[15:41] {nemo} he and Brezhnev were the two big soviet names in the 70's

01[15:42] {Threei}  dp... see how nemo advances?

[15:42] {nemo} ?

01[15:42] {Threei}  just so you know, today he also learned the word "pizdets"

[15:42] {nemo} probably heard it before but confused it with "pisdah"

[15:42] {dptl} roflol

01[15:43] {Threei}  1. Describes a kaput situation, one at which fubar is nothing compared to how the situation really is. Can also describe situations of otter stupidity expressed by someone, as well as an obviously bad mental state.

[15:44] {dptl} there is a big diference between thouse two words Nemo ...lol

01[15:45] {Threei}  volume ends 17 and 14% below 3 month average

01[15:45] {Threei}  for NYSE and NASDAQ respectively

[15:45] {nemo} I know dp

[15:46] {nemo} However, pisdahs are pisdetz

[15:46] {nemo} in general

[15:46] {nemo} kinda' like one is a subset of the other

01[15:48] {Threei}  AET did form double top

01[15:48] {Threei}  not enough to short it but just enough to kill long

[15:48] {scottie} yes, you were right

01[15:49] {Threei}  hold on, I'll copy this and send to my wife

01[15:49] {Threei}  "see? sometimes I am!!"

[15:49] {scottie} lol

01[15:50] {Threei}  if we weren't this close to eod, I'd be intereasted in SLW .60 short

01[15:55] {Threei}  OK guys, thank you all

[15:55] {Will49} cheers guys

01[15:55] {Threei}  have a good evening, see you tomorrow

[15:55] {patel} take acer

[15:55] {patel} care

[15:55] {thomcbell} later all

[15:55] {dptl} gn

[15:56] {scottie} gn see you all tomorrow

Nemo's Findings week of 12/09/2012

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

Wish I had a clock widget for a countdown to the Mayan thingy....anyway, the week that was:

   

 

 

 

I've  again showed the published economic news below the data for that day so you can see how the price action reacted to the news, and of course we have the whole week data for the last chart graphic.  Notice how financials and spy have been holding a consistent trendline since the bottom on Wednesday morning.  Notice how IWM has been steadily wedging upward.  Notice how Bonds (TLT) are looking weak as if they are going to continue to drop.  The dollar has been gaining and losing strength with seemingly little, if not less effect on the moves of the market.  Frankly, it would seem, all this market needs is actual substantive progress on the "FC" talks and the market will move substantively higher.

 

The week that is:

 As we can see, very tight band on IWM with volume-at-price resistance in the $83.75 area.

 

  Hard to tell what goes here because aapl is 13% of the index.  Go compare the charts of aapl and QQQ.  As goes apple so go the Qs...for now anyway.

 

 SPY has volume resistance in the 143.50 area and then the 144.30 area

 

 As we can see, the finnies are pushing upward into volume resistance in 114 area.

 

And my, don't bonds look weak.  Will the 50 SMA provide support?

Notice the dollar has been strengthening with the market either moving upward or remaining fairly flat.  Now the norm has been a negative correlation.  Is this a new relationship dynamic or just a temporary aberration?  Well, my commentary has hinted at the positive, but this of course could go south, but I would expect the 200SMA on the spy to be a relative magnet.  It is relatively close by on many of the indexes.

Market Week Wrap-Up

Fiscal Cliff Stalemate Stalls Markets


- Markets saw volatile trading this week as investors worked to keep ahead of the Greek debt buyback, the US weekly payrolls and the ongoing fiscal cliff negotiations. All indications are that the Eurozone managed to successfully pull off the latest Greece debt swap, greatly calming the euro crisis for the moment. Attention has shifted squarely onto the US fiscal cliff, although there was virtually no movement toward a resolution of the issue. The Republicans made a counter offer to the administration, including $1.4T in spending cuts and $800B in new revenue (obtained by closing tax loopholes, with no tax hikes), which was rejected out of hand by President Obama. The administration reiterated that tax hikes on those making more than $250K are a non-negotiable part of the deal, and it looks more and more likely that the issue will not be resolved before the end of the year. In the meantime, approximately 50 public companies launched special dividends payable in the month of December, designed to avoid higher taxes in the 2013 period. On Friday, the November jobs report was better than expected, but still not really strong enough. In other US data points, the November ISM Manufacturing index fell below 50, to its lowest level since July 2009, and the preliminary December University of Michigan confidence reading fell sharply below the final November figure. For the week, the DJIA rose 1.0%, the S&P500 gained 0.1%, while renewed selling pressure in shares of Apple helped push the Nasdaq down 1.1%.

- The mixed results seen in the November US jobs data provoked lots of commentary on Friday morning. Non-farm payrolls were +146K, well above expectations of +85K. Despite the beat, the figure is still nowhere near the +200K figure needed for a real jobs recovery. In addition, the October number was revised downward by 49K. The BLS claimed that Sandy had no significant impact on payrolls, although many analysts say that the storm probably slowed hiring in the month. The unemployment rate dropped to 7.7%, however analysts point out this was almost entirely due to discouraged workers dropping out of the labor pool. Other analysts commented that this unexpected drop in the unemployment rate may give the Fed some pause as it considers linking policy action to employment thresholds at next week's FOMC meeting.

- The BoE and ECB rate decisions on Thursday proceeded exactly as expected, with both central banks leaving key rates unchanged. At the ECB press conference, Mario Draghi said that there had been "wide discussion" about whether to cut or keep rates steady, including talk about negative interest rates (Draghi said the ECB is "technically prepared" for negative rates). On Friday, press articles asserted that a majority of the ECB council are now said to support a rate cut and the UK Telegraph's Ambrose Evans-Pritchard wrote that several ECB members pushed for a rate cut at Thursday's meeting. Council members Draghi, Weidmann, Coeure and Asmussen are said to have successfully argued against a cut at the meeting.

- Shares of Apple lost approximately 10% of their value this week. The company's shares slid 6% on Wednesday alone, for their biggest one-day drop since 2008. There was no single catalyst for the decline and many analysts suggest that investors are liquidating holdings at year end, ahead of the fiscal cliff. There were also reports of one broker raising margin requirements for its shares, plus some misinterpreted press reports about iPhone 5 sales in China and the firm's profit margins.

- US auto sales sustained a brisk pace in November, posting their best rate in four years. There was little sign that Hurricane Sandy put much of a dent at all in the monthly numbers. Ford's sales were up 6% y/y and its F-series pick up truck sales grew a whopping 18%. Chrysler had its best November since 2007, extending its run of excellent numbers. GM's gains were a bit more tepid, up 3.4% y/y.

- Shares of Citigroup gained 8% this week after launching a big new strategic repositioning. New CEO Corbat is clearly looking to put his stamp on the firm, and the new plan cuts 11,000 jobs, reduces various overseas activities and cuts costs. There would also be a pretax charge of roughly $1 billion in Q4.

- Starbucks discussed its plans to open 3,000 net new stores through 2014, and almost doubling its international footprint through 2015. Shares of Teavana surged after Starbucks recommitted to its plan to buy the company, after several days of negative stories about its products.

- On the M&A front, the big story of the week was Freeport-McMoRan's plan to buy Plains Exploration and McMoRan Exploration for $9 billion in cash and stock, as the firm makes a big push into the energy sector. Investors do not like the deal one bit, as shares of FCX are down 18% this week. The deal would reunite the two firms that formerly were known as Freeport-McMoRan Inc. In other deal news, Canadian dairy products firm Saputo agreed to buy Dean Foods's Morningstar division for $1.45B. Baxter said it would acquire privately-held Swedish dialysis product company Gambro AB for about $4 billion to complement its kidney therapy portfolio.

- EUR/USD made another run up to the 1.3130-1.3170 resistance band it has probed twice already this fall. The pair hit six-week highs around 1.3126 on Wednesday, before dropping as low as 1.2880 on Friday. The euro sustained gains in the first half of the week as it continued to bask in the rays of the successful Greek debt buyback. Note that the maximum price on Greece's bonds was pegged at 40.1% of the principal amount, better then the whisper number of 35% mentioned last week. Peripheral yields eased further, although there was some pressure after a Spanish auction missed issuance targets. In addition, there was turbulence in Rome as Berlusconi's PDL Party abstained from a confidence vote in the Monti government, suggesting his government could be forced to resign.

- EUR/CHF moved toward 1.2150 after Credit Suisse confirmed it would start applying negative credit rates on cash clearing accounts, effective Dec 10th. The concept of negative interest rates on Swiss deposits had been speculated for some time. In June, the Danish Central Bank established negative rates for all depositors, and back in early October certain depositors received negative rates for deposits in CHF and DKK at State Street and Bank of NY Mellon. Recall that negative rates do not mean banks are charging for deposit accounts - the rates in the cases above are only for clearing accounts. EUR/CHF ended the week back below the 1.2090 level.

- The Japanese yen remained under pressure across the board, most notably hitting an eight-month low against AUD. Nikkei News reported the opposition LDP party, which is running on a platform of expanded BOJ stimulus and a tougher stance with China, is expected to win more than half of the lower house's 480 seats in the Dec 16th elections. In China, the newly seated government got to work. Initial reports from Beijing suggest the new standing committee of the politburo will turn its focus to urbanization, potentially demanding more stimulative measures such as infrastructure spending.

 TradeTheNews

Dec 07 2012

Slow but still profitable day despite somewhat rough start. Finishing a week with no single losing day.

Session Time: Fri Dec 07 00:00:00 2012

[08:55] }patel} Good Morning :) :) :)

01[08:56] }Threei}  morning patel

[09:03] }scottie} good morning

01[09:03] }Threei}  scottie :)

[09:07] }Beau} good morning

01[09:07] }Threei}  beau :)

[09:12] }nemo} Vad's favorite kind of day

[09:12] }nemo} call Dino, tell him to back to bed

[09:13] }nemo}   Gap and Crap, or Gap and Go, or Gap and ......................?

01[09:14] }Threei}  my feel is, gap and crap

01[09:14] }Threei}  another meaningless jobs number props bounce into shaky market

[09:15] }dino} gm

01[09:16] }Threei}  dino :)

[09:22] }Will49} Good morning

01[09:22] }Threei}  will :)

01[09:23] }Threei}  in case you ever wondered how nemo would have looked and spoken if he were a cat, http://goo.gl/quxST

[09:23] }robbers} CNBC saying jobs numbers are distorted.

01[09:23] }Threei}  yes

01[09:24] }Threei}  hunderds of thousand dropped from workforce

01[09:24] }Threei}  same trick that helped it down to 7.9 last month

[09:25] }robbers} Yep, people who're just not looking anymore.  And right, same trick(s).

01[09:25] }Threei}  participation numbers meanwhile stay under 64% for almost a year, one of the lowest in history

01[09:26] }Threei}  then again look at this:

01[09:26] }Threei}  (ES) Some economists see Spain unemployment peaking at 28-30%, possibly in 2014, with 2013 unemployment worse than 2012's- Europa press

01[09:26] }Threei}  maybe we need to stop complaining, lol

[09:26] }robbers} Also, employment is just one side of the story, what about "real" wage levels?

[09:27] }robbers} In Spain, the unemployment rate for those under 25 years old is something like 50%.

01[09:27] }Threei}  ask, and...

01[09:27] }Threei}  *(US) NOV AVG HOURLY EARNING M/M: 0.2% V 0.2%E; Y/Y: 1.7% V 1.7%E; AVG WEEKLY HOURS: 34.4 V 34.4E

[09:28] }robbers} I know my real wages were off a bit...until yesterday's trading.

01[09:28] }Threei}  (US) House Speaker Boehner (R-OH): President Obama's plan for dealing with the fiscal cliff is a joke, would hurt job growth ***Note that yesterday afternoon, there were reports that budget discussions had resumed between President Obama and House Speaker Boehner, with some signs of progress

01[09:28] }Threei}  glad we could help it :)

01[09:29] }Threei}  someone sent me an article couple years ago, about insentives structured in a way that makes it more sensible for a woman with 2 kids to remain at 29K a year job than go to 69K

01[09:29] }Threei}  this is insane

[09:29] }ese} gm

01[09:29] }Threei}  ese :)

[09:30] }nemo} that was a study from 2011 by PA state Secretary on Welfare

[09:30] }nemo} no incentive between 30k and 70k to get a higher paying job

01[09:31] }Threei} Long Setup:  SWHC  .20 break hl

01[09:32] }Threei}  If holds  .10 

[09:32] }nemo} yeah baby

[09:32] }nemo} my kinda' merchandise

01[09:32] }Threei}  lol

[09:32] }dino} except pride, which is not considered anymore

[09:32] }nemo} although there's an old joke about their quality:  By a Smith and send it right to the Smith

01[09:32] }Threei}  seems pride is now in becoming better moocher

[09:33] }nemo} game the system

[09:33] }nemo} just like europe

01[09:33] }Threei}  no go

[09:33] }thomcbell} short setup lvs 44.40 break if holding 44.50 

[09:33] }nemo} let's see if they try to push 143 on spy

[09:33] }thomcbell} target is 1:2

[09:34] }thomcbell} 1:1

[09:34] }thomcbell} 1:2 and out

[09:34] }nemo} 10 year at the monthly pivot

[09:34] }robbers} Nice job.

[09:34] }scottie} great call tbell

[09:34] }Will49} wtg

[09:34] }nemo} lvs

[09:34] }patel} nice job. 

[09:35] }thomcbell} tu

[09:35] }thomcbell} fb has some fight here initially 

01[09:35] }Threei}  nice plunge

01[09:35] }Threei} Short Setup: SLW  .45 break

01[09:35] }Threei}  If holds  .55 

[09:38] }ese} L amrn .75

[09:38] }ese} amrn

[09:38] }ese} a m r n......looks like 2 m's above

01[09:39] }Threei}  capitalize it :)

01[09:39] }Threei}  SPY looks read to drop

[09:40] }thomcbell} short setup aIG 34.06 break if holding 34.2

01[09:42] }Threei}  no go SLW

01[09:42] }Threei}  it must be blind

[09:46] }thomcbell} short setup fcx 31.88 break if holding 32

[09:46] }thomcbell} aig invalidated 

01[09:49] }Threei} Short Setup: SFD  .80 break

01[09:49] }Threei}  hl

[09:49] }thomcbell} fcx nope 

01[09:52] }Threei}  disregard SFD, way too slow

01[09:52] }Threei} Short Setup: FCX  .95 break

[09:52] }dino} amrn hl l .60 stop lod

01[09:52] }Threei}  hl

01[09:52] }Threei}  If holds  .10 

01[09:54] }Threei}  stop

01[09:54] }Threei}  not liking this morning

[09:54] }Will49} join the club

01[09:54] }Threei}  things don't match the indices

[09:55] }nemo} this is more fun than flossing with barbed wire

[09:55] }patel} today is just one of them days. 

01[09:55] }Threei}  *(US) DEC PRELIMINARY UNIVERSITY OF MICHIGAN CONFIDENCE: 74.5 V 82.0E

[09:55] }ese} oh oh

01[09:58] }Threei} Long Setup:  SLW  .60 break

01[10:00] }Threei}  target 1:2

01[10:02] }Threei} Long Setup:  YUM  .50 break hl

01[10:02] }Threei}  SLW 1:1

01[10:05] }Threei}  YUM two-sided, .40 -.50

[10:05] }ese} L go .31av

[10:06] }ese} avgo

[10:06] }nemo} right

[10:06] }scottie} wow

01[10:06] }Threei}  ummm

01[10:06] }Threei}  lol

[10:06] }ese} something wrong with my keyboard

[10:06] }patel} I longed a little GM at 24.76. How does it look? 

[10:06] }dino} bidu sm l .60

[10:06] }nemo} classic, you have to make a bet and buy before the break

[10:06] }patel} I sold half and have my other half at breakeven

01[10:06] }Threei}  looks good

01[10:06] }Threei}  just let it trade

01[10:07] }Threei}  ese, looked at YUM break?

01[10:07] }Threei}  just wanted you to see why we don't use market orders on breakouts

[10:07] }ese} not yet...will do now

[10:07] }patel} How about FRAN at 24.83. 

[10:08] }patel} stop would be 24.62

[10:08] }ese} good one..........missed it

[10:08] }patel} I will leave it alone. 

01[10:08] }Threei}  why not under .70? .62 is a bit too wide

01[10:08] }Threei}  you should have seen it real time ese

01[10:09] }Threei}  market order woyuld get you in good 10 cents above the break, if not 12

[10:09] }dino} \out bidu .14, +.54

[10:09] }ese} looks instantaneous 

01[10:09] }Threei}  SLW is coming into target

01[10:09] }Threei}  1:2, out

[10:09] }robbers} out slw, thanks.

01[10:09] }Threei}  yw

[10:09] }scottie} +.19 tks Vad

01[10:09] }Threei}  :)

[10:10] }thomcbell} aig short setup 34.33 break if holding 34.42

[10:11] }dino} no cipher today. bummer he's usually good for 200 or so

[10:13] }ese} indeed

[10:13] }ese} a m r n .......do it

[10:14] }thomcbell} aig 1:1

[10:14] }ese} hit the 10 mark thats all i want

[10:15] }dino} same buddy

[10:16] }dino} ne hl l .50

[10:16] }nemo} whoa amrn

[10:16] }nemo} that was stop hunt to vwap

[10:16] }ese} sucre blu

[10:16] }patel} AVP

[10:17] }patel} what is up with that one. 

[10:19] }thomcbell} FB 27.28 break if holding 27.18

01[10:20] }Threei} Short Setup: LVS  .90 break

01[10:20] }Threei}  If holds  44 

[10:23] }ese} bounced off the vwap nemo.....amrn

[10:24] }dino} alog

[10:24] }nemo} [10:16] }nemo} that was stop hunt to vwap

01[10:24] }Threei} Short Setup: RIG  .20 break hl

[10:24] }ese} ya

01[10:24] }Threei}  If holds  .30 

[10:25] }nemo} dull market

[10:25] }nemo} rig

[10:25] }nemo} sorry

[10:25] }patel} my GM is still strong 

01[10:25] }Threei}  yes but might be topping

01[10:26] }Threei}  those two red tails

01[10:26] }Threei}  LVS is valid again

[10:26] }patel} FRAN is just out there. 

[10:26] }patel} I just killed FRAN. 

[10:28] }ese} sharp double bottom 1min btu.............damn missed it

[10:28] }patel} what about short SWHC below 10

[10:28] }ese} too many stocks so little time

[10:28] }dino} lol

[10:29] }dino} same could be said about bars and women

01[10:29] }Threei}  lol

[10:29] }ese} was said wasn't it

01[10:29] }Threei}  SWHC is down too much for my taste from the top with no bounce

[10:29] }patel} yeah

01[10:29] }Threei}  I am not keen on shorting it here

[10:29] }ese} good reference if were talking about golf to

[10:30] }dino} indeed

[10:30] }dino} out ne .65, +.15

[10:31] }robbers} wtg

[10:31] }ese} why not..........good one dino

[10:31] }patel} what about CVC 14.51 with 14.46 stop

[10:31] }dino} ty

[10:31] }dino} 07 red, stepping aside

[10:32] }patel} nevermind

[10:32] }patel} SPY is at lod

01[10:33] }Threei}  RIG's valid

[10:33] }nemo} interesting, headline was good on jobs report, looking under the hood it was not good, market seems to be reacting as such...Wile E. Coyote moment, followed by the requisite, "OH Shit!"

[10:33] }thomcbell} aig 1:2

[10:34] }thomcbell} FB was obviously invalidated

01[10:34] }Threei}  LVS 1:1

[10:35] }thomcbell} covereing rest of aig here 34.08

01[10:37] }Threei}  wtg

[10:37] }dino} gj

[10:37] }patel} nj

[10:42] }nemo} finnies still weak

01[10:46] }Threei}  ok RIG

01[10:47] }Threei}  time to die horrible death

[10:48] }scottie} IR l 49 ?

01[10:48] }Threei}  hl

[10:49] }patel} boehner about to talk

[10:50] }thomcbell} fcx might have a 32.30 break here for a trade - not doing it right now 

01[10:52] }Threei}  let's trail RIG to .26

[10:54] }thomcbell} 0.20 break on fcx will bring 32 quickly 

[10:56] }thomcbell} lvs pivot 43.61 Vad if your still there 

01[10:56] }Threei}  Boehner is about to send this market flying or plunging

01[10:57] }Threei}  and my bet is rather on latter

[10:59] }thomcbell} fcx 1:2 if u did it 

[10:59] }ese} hmmmmmm.......gotta hunch that a m r n is gonna mainline at .70 all day and do nothing......

[11:00] }nemo} fcx a long now

[11:00] }ese} regardless........have to go......have a great weekend.......cya monday

01[11:00] }Threei}  take care ese, have a good one

01[11:01] }Threei}  1:1

01[11:01] }Threei}  doesn't sound good, Boehner

[11:04] }scottie} +.19 rig tks Vad

01[11:04] }Threei}  :)

01[11:04] }Threei}  with 3 wins in a row, life becomes brighter

[11:05] }thomcbell} FB trying here - thru 27.28 break 

01[11:06] }Threei}  (US) House Speaker Boehner (R-OH): There is no progress to report in fiscal cliff negotiations, the White House has wasted another week, has given us no counter offer- The president's strategy is sending the US toward the fiscal cliff. Geithner's comment that the Administration is willing to go over the fiscal cliff is "reckless talk." - Describes phone discussion with Obama earlier this week as "pleasant" but "more of the same." - "When is he going to take a step toward us?"

[11:07] }patel} FB looks strong

[11:07] }patel} not in it due to boner. 

[11:08] }nemo} 141.96 area is the 50 sma, which of course, is close to 142...I think we end up around here for the close

[11:08] }dino} rgr blood

[11:09] }thomcbell} fb 1:1

[11:11] }dino} clf hl l .50

[11:17] }scottie} TEVA l .20 ?

[11:17] }patel} CVC???

01[11:18] }Threei}  TEVA, yeah

01[11:18] }Threei}  wow... what's so unusual about CVC?

[11:19] }patel} My reasoning is gap up with a pullback. Looks pretty clean on the 15's. 

01[11:19] }Threei}  not today, I don't think so

[11:19] }patel} okay. 

01[11:20] }Threei}  too narrow to be a runner to 15 within a day

[11:20] }dino} market has really slowed down

[11:20] }patel} yeah

[11:21] }nemo} fcx might go here

[11:23] }thomcbell} long nemo?

[11:23] }thomcbell} im long with a stop below that reaction low - i bought thru 32 

[11:24] }nemo} yes if market holds next level would be .83ish

[11:24] }scottie} in teva .21

[11:27] }thomcbell} do u have a target on FCX - nemo?

[11:27] }nemo} .20ish is first resistance area

[11:28] }thomcbell} right that is what i have too

[11:28] }nemo} partial along the way though, I don't think the range expands much more fcx vwap is .20

[11:28] }nemo} spy vwap

[11:28] }nemo} sorry

[11:32] }dino} stop clf -.30

[11:36] }thomcbell} fcx misbehaving 

[11:37] }nemo} now showing wealkness compared to market but this is a confluence area low

[11:38] }scottie} half out teva

01[11:38] }Threei}  :)

01[11:38] }Threei}  54% Put Economic Growth Ahead of Economic Fairness

01[11:38] }Threei}  really? didn't look this way Nov 6

[11:40] }patel} thoughts on TIBX over 20.50

[11:40] }patel} nice job scottie

01[11:40] }Threei}  .45 break would be a long on TIBX but it needs to hold .35

[11:41] }scottie} tks

01[11:41] }Threei}  which is doesn't

[11:42] }patel} DG strong

[11:42] }dino} rgr hl l .00

[11:43] }scottie} stop teva .24

[11:45] }dino} ctxs spike

[11:46] }dino} hl s .91 wide

[11:51] }dino} cov ctxs .31, +.60

[11:51] }Will49} good one dino

[11:51] }dino} ty

01[11:51] }Threei}  wtg

[11:51] }robbers} gj

[11:51] }Beau} great dino

[11:51] }scottie} nerves of steel

[11:51] }dino} bit hairy there

01[11:52] }Threei}  finally, my favorite politician gal is coming on TV

01[11:52] }Threei}  (US) House minority leader Pelosi to hold press conf at Noon ET

[11:52] }dino} yuk

[11:52] }Will49} botox babe

01[11:53] }Threei}  what a waste of botox

[11:54] }dino} rgr stop -.36

01[11:56] }Threei}  SWHC, what a disheartening smackdown

[11:57] }dino} out amrn .64, +.04 thing won't move

[11:59] }dino} swhc gap 9.44

[12:00] }dino} making selling off on pigosi

01[12:00] }Threei}  lol

[12:01] }thomcbell} now looking for a formal fcx long setup 

[12:02] }dino} as opposed to informal? tux vs jeans?

[12:02] }thomcbell} ala Vad 

01[12:02] }Threei}  lol

[12:02] }dino} just funnin' w/ya

[12:03] }thomcbell} 31.77 break if holding 31.70 target 32

[12:04] }thomcbell} ok im in thee 

[12:04] }thomcbell} there 

[12:06] }thomcbell} 1:1

[12:06] }thomcbell} fcx

01[12:06] }Threei}  :)

[12:08] }thomcbell} flattened balance at break even 

[12:08] }thomcbell} will continue to watch for a nother setup 

[12:12] }dino} jwn drop

[12:13] }Will49} tks scottie +.14 teva

01[12:13] }Threei}  (US) House Minority Leader Pelosi (D-CA): Republicans have only offered empty letters in negotiations with the Democrats over the fiscal cliff- Reiterates the only thing standing in the way of middle class tax cuts are Republicans holding out on tax rate increases for the top 2%; highlights the same 2% receive a cut as well as part of the middle class tax cut

01[12:13] }Threei}  I seriosuly think they'll let it happen

01[12:14] }Threei}  how did she manage to contradict herself in one senetnce?

[12:14] }dino} what do they care

01[12:14] }Threei}  "tax rate increases for the top 2%; highlights the same 2% receive a cut as well as part of the middle class tax cut"

01[12:15] }Threei}  so is it tax increase or tax cut for 2%?

01[12:15] }Threei}  make up your mind, woman

01[12:16] }Threei}  they care about driving stick through republicans, dino... and their strategy will do just that

01[12:16] }Threei}  they'll push and push for more concessions making it impossible for republicans to agree,

01[12:16] }Threei}  then when deadline comes, there won't be a deal,

01[12:17] }Threei}  taxes go up for everyone, next day they come back with tax cut for under $200,000

01[12:17] }Threei}  republicans can't vote against that

01[12:17] }Threei}  so democrats will get all they want while making republicans look worse than anyone could ever imagine

[12:17] }dino} i get that 3i. but in the whole scheme of things it really makes no difference to any of them if cliff hits or not. 

01[12:18] }Threei}  it's a play for 2014 now, to get back the house

[12:18] }dino} jwn hl l .20

[12:18] }thomcbell} Vad how do i emigrate to Canada?

01[12:18] }Threei}  economically no, it's purely political

[12:19] }dino} it won't work. republicans would be better off saying no

01[12:19] }Threei}  well tbell... our right of center government would look more left than your normal liberal, lol

[12:19] }thomcbell} nemo - FCX what are your thoughts now

01[12:19] }Threei}  I agree dino

[12:19] }nemo} suicide

[12:19] }thomcbell} what do u mean by that ?

[12:19] }nemo} 32ish, should go for vwap, but it's starting to follow the market

01[12:20] }Threei}  Canada is very very left country comparing to US

[12:20] }dino} tol hl l .45

[12:20] }nemo} we're all going european

01[12:20] }Threei}  you know what percent said they'd vote for Obama if they wrere eligible?

01[12:21] }Threei}  in Canada I mean

[12:21] }nemo} 80

01[12:21] }Threei}  mind-boggling 78%

[12:21] }thomcbell} ok gotcha

[12:22] }Will49} thank goodness the conservatives here are smart enough to stay in power

01[12:22] }Threei}  when you listen to our far left, your raving lunatics look like innocent rose bushes

[12:22] }Will49} true dat

01[12:23] }Threei}  and there no real conservatives in yo7ur sense of the word at all

[12:23] }nemo} they won't

01[12:24] }Threei}  who won't what?

[12:25] }Will49} conservative is a relative term here

[12:25] }nemo} we're all going left

[12:25] }Will49} Harper knows how to stay in between the other parties

01[12:25] }Threei}  for now, yes...

[12:25] }Will49} if that means a shift to the left, he'll do it

01[12:26] }Threei}  I really hope he grooms a worthy successor

[12:26] }Will49} also. cdns like to see an offset at the fed level against the provincial wingnut governments

[12:27] }Will49} yea Vad, not any good looking candidates at the moment

01[12:27] }Threei}  ask ese, and harper is a wingnut :)

[12:27] }patel} how does AVGO look short

[12:27] }thomcbell} fcx dont feel it is a long - this short covering rally has been convincinlgly sold into

01[12:28] }Threei}  .25 break, AVGO

01[12:28] }Threei}  don't count on much but it's a valid lay

[12:28] }Will49} knew a girl like that once

01[12:29] }Threei}  FCX, I'd be looking for short, tbell, I agree

01[12:29] }Threei}  forget AVGO

01[12:29] }Threei}  FCX, 70 break

[12:30] }nemo} look where the morning breakout level is

[12:39] }thomcbell} short setup slw 35.58 break if holding 35.68

[12:43] }thomcbell} slw invalidated 

[12:46] }dino} dds spike

[13:00] }dino} jwn to .53

[13:00] }patel} akam long

[13:00] }dino} tol o .69

[13:02] }dino} out tol .73, +.28

[13:09] }dino} out jwn .53, +.33

01[13:09] }Threei}  nice

[13:10] }Beau} hell of a day dino

[13:11] }dino} average, had 2 stops

[13:11] }dino} but ty

[13:12] }dino} alog lod

[13:12] }dino} swhc lod

[13:26] }scottie} ENB l .10 ?

01[13:27] }Threei}  toughie...

[13:27] }scottie} tks

01[13:27] }Threei}  not sure

[13:27] }scottie} will pass

01[13:29] }Threei}  yuck

01[13:29] }Threei}  good idea to pass

01[13:29] }Threei}  too much air underneath

[13:29] }scottie} yep tks for your help

[13:30] }dino} zzzzzzzzzzzzzzzzzzzzzzzzzzzzzz

[13:32] }dino} swhc going for gap

[13:36] }dino} hmmm, that was a poor gap fill attempt

[13:37] }patel} this is boring.....

[13:38] }dino} extremely. feels like a summer friday

[13:41] }nemo} we've been grindgin higher on a trendline in the spy since Wednesday

[13:48] }_syncc} Hey everyone, just checking in!

01[13:49] }Threei}  hi syncc

[13:49] }_syncc} How were your trades this morning?

01[13:49] }Threei}  back and forth

[13:49] }_syncc} I caught a few nice ones

[13:49] }dino} good, but markets are now dead

[13:49] }_syncc} Yesterday was better I assume.

01[13:49] }Threei}  narrowed down and slowed down greatly

01[13:50] }Threei}  unless some serious range break comes (to the downside preferrably), it's dead

[13:50] }_syncc} So Vadym, on days like this, what do you end up doing? Just on standby?

[13:50] }thomcbell} lvs looks like a 43.66 long break if holding 43.56

01[13:50] }Threei}  waiting, watching, taking those that look safe and promising

01[13:51] }Threei}  keeping my expectations low

01[13:51] }Threei}  taking scalps, trailing stops tighter

01[13:51] }Threei}  in short, making sure there is no damage

[13:51] }_syncc} Quite conservative, your emotions are definitely solid in being a trader

[13:51] }_syncc} I need to develop mine...lol

[13:53] }patel} FSLR volume

01[13:53] }Threei}  to remind, I do it for frikin 16 years :)

[13:54] }_syncc} btw, I read the instructions for this trading room. I finally understand what all those ratios mean.

[13:54] }_syncc} Hmm good point. Well I will be at that point soon enough :)

[13:55] }_syncc} I probably cannot scalp.. my commission costs are too high

[13:55] }_syncc} 9.95 a trade

[14:00] }nemo} this can't last, my charts on spy and tna are broken into .02 increments

[14:00] }nemo} Haven't seen that in a while

[14:12] }_syncc} rimm is stuck between .98 and .99 for the past 20 minutes

[14:12] }_syncc} wow is this ever slow

[14:13] }nemo} why you looking at that?

[14:13] }thomcbell} lvs 1:1

[14:13] }_syncc} Im waiting for it to break 12.00

[14:14] }_syncc} if it holds .95

[14:17] }patel} UAL looks goods

[14:18] }patel} airlines are strong 

[14:18] }patel} daily is good on UAL

[14:26] }thomcbell} fb - lol

[14:28] }thomcbell} lvs 1:2

[14:29] }thomcbell} took the trade lvs 

01[14:30] }Threei}  nice one

01[14:31] }Threei} Short Setup: FCX  .95 break

01[14:31] }Threei}  If holds  32 

[14:34] }_syncc} rimm 1:1

[14:45] }thomcbell} fcx was still valid right Vad?

01[14:45] }Threei}  yes

[14:47] }thomcbell} 1:2 target and play by the book?

01[14:47] }Threei}  totally

01[14:51] }Threei}  covered any yet?

[14:52] }scottie} yes half at .85

01[14:52] }Threei}  :)

01[14:52] }Threei}  stop is .96... routine

01[14:52] }Threei}  yawn

01[14:52] }Threei}  see syncc... it's just plain boring money making routine

01[14:53] }Threei}  another day in the office

[14:56] }_syncc} since when did money become boring?

01[14:56] }Threei}  :)

01[14:57] }Threei}  http://blog.realitytrader.com/2012/10/unbearable-boredom-of-trading.html

[14:57] }_syncc} and I was looking at some practice exams for my exam tomorrow, and missed out on selling rim at 12.05. Now back at 12.00.. great.

[14:58] }_syncc} you posted that on cara once, I recall reading it, and well, laughing:)

[14:58] }dino} gj fcx vad

[14:58] }_syncc} "You are alert"--cracks me up on days like this

01[14:58] }Threei}  ty dino

01[14:59] }Threei}  what are you doing trying to make 5 cents on RIMM...

01[14:59] }Threei}  we have almsot 20 on FCX already, with 6 -7 cents risk

[15:00] }_syncc} "dude...be sensitive" nemo, back me up.

[15:01] }_syncc} Vad, how did you even see that big of a fall on FCX?

[15:02] }scottie} out .77 +.17 tks Vad

01[15:02] }Threei}  scottie :)

01[15:02] }Threei}  syncc... I did not see anything

01[15:03] }Threei}  trading is not about seeing the future

01[15:03] }Threei}  there was a val;id setup which in terms of my trading system signalled entry

01[15:03] }Threei}  you don't predict anything, you take signals that trigger your setups

[15:04] }_syncc} still an impressive move :)

01[15:05] }Threei}  that's because setups are structured well

01[15:05] }Threei}  and lead to good plays

[15:12] }_syncc} okay out .05, +.42% for rimm

[15:14] }patel} how does

[15:14] }patel} SWHC long above 9.99 look

[15:14] }dino} amrn hl l .77

[15:16] }thomcbell} i would do 10.01

[15:17] }thomcbell} but curious to see what Vad thinks 

[15:19] }patel} didnt talk it tbell

[15:19] }patel} it could give a nice eod run

[15:19] }patel} *take

01[15:19] }Threei}  hard to tell really

[15:20] }dino} amrn stop -.04

[15:24] }nemo} this is trend on spy

[15:26] }nemo} yep indexes look long

[15:26] }dino} nxy drop

[15:28] }patel} geez been watching NXY since 24.30

[15:28] }patel} 1 dollar drop in less than a minute

[15:28] }patel} make that almost 2 dollars

[15:28] }dino} news?

[15:29] }patel} yeah

[15:29] }patel} government of canada

[15:29] }thomcbell} what is it?

[15:29] }patel} is suppose to make an annoucement after close

[15:29] }thomcbell} deal off

[15:29] }thomcbell} that was a question 

[15:29] }nemo} and here go the indexes

[15:30] }nemo} gap up monday

01[15:30] }Threei}  Nexen Inc. (USA) (CA) Industry Canada to make announcement at 17:00ET; no topic disclosed - press***NOTE: may be speculation that this will be a determination on the proposed NXY/CEO deal **Reminder: On 4th Nov: Canada govt extended the deadline for review of CNOOC $15.1B bid for Nexen to Dec 10th. On Sept 20th, shareholders approved $15.1B CNOOC acquisition valued at $27.50/shr. } - Follow up: Canada PM Harper will also make a statement after 17:15ET today

[15:31] }patel} wWhat the heck

[15:32] }patel} look at the bounce

01[15:32] }Threei}  halted in Toronto

[15:33] }dino} i don't know what to do w/it

[15:34] }nemo} bounced basically at the 200 day

[15:36] }thomcbell} long setup tivo 12.18 break if holding 12.13

[15:42] }thomcbell} look at bollinger bands on that 1 min on tivo Vad 

[15:43] }Will49} out FCX 1:2 tks Vad

[15:43] }dino} gj

[15:43] }Will49} almost an hour playing that

01[15:43] }Threei}  :)

[15:44] }Will49} tks dino

[15:44] }dino} well paid

01[15:44] }Threei}  slow money buys just as much in the store

[15:44] }dino} and played

[15:44] }Will49} yes

[15:45] }scottie} you're more patient than I am Will

[15:46] }Will49} just about burst a bladder too

[15:46] }scottie} lol

[15:47] }thomcbell} doing tivo by the book here 

[15:50] }Beau} dino do you change stops in late market open "AMRN stp .04"?  Or was it going nowhere and you scratched it?

[15:51] }dino} going nowhere so scratched it. but generally later in the day i get stingy (tighter) with stops

[15:52] }nemo} finnies and spy holding uptrend for the week, expect to se it over 143 on Monday

[15:52] }Beau} thx

[15:52] }dino} a.m. more movement, so a bit wider. for last 9 months or so, afternoons suck. strange for me because i used to make most of my $ in afternoons.

[15:53] }dino} but in general, the volume is way down from years ago. not as many traders

01[15:54] }Threei}  thank you all, have a great weekend

01[15:54] }Threei}  see you on Monday

[15:54] }thomcbell} tivo stopped - 0.05

[15:54] }Will49} great weekend everyone

[15:54] }dino} thx all for ideas. take care

[15:55] }Beau} appreciate your explaination dino  Have good weekend

[15:55] }dino} no beau, anytime

[15:55] }scottie} have a good weekend, see you monday

Dec 06 2012

One of the best days possible, with one stop and seemingly endless torrent of winning trades, one after another. Total windshield day (as in: sometimes you are a windshield, sometimes you are a bug).



Session Time: Thu Dec 06 00:00:00 2012

[08:58] {scottie} good morning
01[08:59] {Threei}  scottie :})
[09:05] {dino} gm
01[09:05] {Threei}  dino :)
[09:05] {cipher} gm
01[09:05] {Threei}  cipher :)
[09:06] {patel} Good Morning Everyone... :)
01[09:06] {Threei}  patel :)
[09:07] {nemo} maybe we should call him kneecap
[09:11] {nemo} so...what's this aapl drop about, moving Macs to the US?
01[09:14] {Threei}  maybe just time?
[09:15] {nemo} lulu
[09:15] {Beau} good morning all
01[09:15] {Threei}  beau :)
[09:15] {nemo} So what is all this silliness about me being sensitive?
01[09:15] {Threei}  aren't you???
01[09:16] {Threei}  FCX another smackdown
[09:19] {Will49} Good morning
01[09:20] {Threei}  will :)
01[09:20] {Threei}  everyone got yesterday's e-mail with Dec-Jan outlook?
[09:20] {thomcbell} si
[09:20] {Will49} yes
[09:20] {scottie} yes
01[09:20] {Threei}  :)
[09:21] {patel} yes.
[09:21] {robbers} yep.
01[09:21] {Threei}  cool, I think we rooted out the problem that prevented some e-mail addreeses to be included
01[09:25] {Threei}  oh good... Energy dept to spend 120M on electric car battery research
[09:27] {Will49} worked at Northwest National Lab which will do this work
[09:27] {patel} think we can get FCX on a bounce play.
[09:27] {patel} lots of support at 31
[09:27] {Will49} 120M is petty cash
[09:27] {nemo} spy looks like bounce
01[09:28] {Threei}  it's nothing to resolve it, but enough to make another painful loss on top of all the solyndras and a123s
[09:28] {nemo} great call by me
01[09:28] {Threei}  and crowd out private investments
01[09:28] {Threei}  hehe nemo
01[09:28] {Threei}  let's keep FCX on a radar
[09:29] {nemo} well, it could only go two ways, I wouldn't have said anything if it dropped
01[09:29] {Threei}  not sure yet for bounce or short
[09:29] {dino} lol nemo
01[09:33] {Threei} Long Setup:  FCX  .70 break hl
01[09:33] {Threei}  If holds  .55
01[09:33] {Threei}  1:1
[09:34] {patel} way 2 fast for me couldnt grab any.
[09:34] {scottie} didn't get it either
01[09:34] {Threei}  it pulled back for second chance...
01[09:34] {Threei}  .72 fill
[09:35] {Will49} out at 1:1 txs Vad
01[09:35] {Threei}  :)
01[09:35] {Threei} Short Setup: GLD  .80 break
01[09:35] {Threei}  If holds  .90
01[09:37] {Threei}  target 1:2
01[09:38] {Threei}  notice how FCX didn't even pause to think at 31, just went through like it was nothing
01[09:38] {Threei}  GLD 1:1
01[09:39] {Threei} Short Setup: FCX  .65 break hl
01[09:39] {Threei}  If holds  .75
01[09:40] {Threei}  Invalidated
01[09:40] {Threei}  may get reestablished yet
01[09:41] {Threei}  GLD 1:2, out
[09:41] {scottie} +.18 tks Vad
01[09:41] {Threei}  yw
[09:41] {patel} thanks Vad
[09:41] {robbers} out gld, thanks.
01[09:41] {Threei}  :)
[09:42] {Will49} 1:2 tks Vad
01[09:46] {Threei} Short Setup: SWL  .80 break
01[09:46] {Threei}  If holds  .90
[09:46] {cipher} fran l .54
01[09:46] {Threei}  SLW
01[09:47] {Threei}  Invalidated
[09:48] {robbers} gmcr
[09:49] {cipher} fran stop .-18
[09:54] {thomcbell} long setup tibx 19.85 break if holding 19.75
01[09:54] {Threei} Long Setup:  LVS  .15 break
01[09:55] {Threei}  If holds  .05
[09:55] {thomcbell} im there with a half lot -
[09:55] {thomcbell} short setup FB 27.64 break if holding 27.72
[09:57] {thomcbell} fb 1:1
[09:57] {thomcbell} tibx 1:1
01[09:57] {Threei}  nice side by side plays
[09:58] {thomcbell} scalp rules on both
[09:58] {thomcbell} target is 27.46 on fb
01[09:58] {Threei}  watch FB for long from under .50, on recross
[09:58] {thomcbell} agreed
01[09:59] {Threei}  can be cute double bottom
[09:59] {thomcbell} flat FB
01[09:59] {Threei}  LVS target 1:2
[09:59] {thomcbell} 27.51
01[10:00] {Threei}  1:1
[10:00] {thomcbell} oh there is the target on FB
01[10:00] {Threei} Long Setup:  FB  .50 break
[10:00] {thomcbell} could get a bit nasty if low is breached
01[10:00] {Threei}  If holds  .45
[10:01] {dino} jwn hl l .40
01[10:01] {Threei}  LVS scalpers win
[10:01] {thomcbell} tibx 1:2
[10:01] {thomcbell} did second partial
01[10:01] {Threei}  (GR) Luxembourg Fin Min Frieden: Cannot rule out completely another Greek debt writedown
01[10:02] {Threei}  I can completely rule out that there won't be one
01[10:02] {Threei}  Invalidated  FB
[10:02] {thomcbell} tibx out 19.99
[10:03] {thomcbell} wrong tibx never got to 1:1
01[10:04] {Threei} Long Setup:  FB  .40 hl break
01[10:04] {Threei}  If holds  .30
01[10:05] {Threei}  trail to .34
[10:06] {thomcbell} fio short setup 22.77 break if holding 22.90 half lot
01[10:06] {Threei}  1:1
[10:06] {thomcbell} good one Vad
01[10:06] {Threei}  :)
[10:06] {Will49} tks Vad
01[10:08] {Threei}  yw
01[10:08] {Threei}  LVS rinsed second half
[10:11] {thomcbell} fio 1:1 almost 1:2
[10:13] {thomcbell} partialled again fio 22.57
[10:13] {thomcbell} stop to 22.65
[10:13] {cipher} fran l .81
[10:13] {scottie} GGP l .10 if holds .00
[10:14] {scottie} ?
01[10:15] {Threei}  chart is right but I have this nagging suspicion that SPY is about the break down
[10:15] {scottie} tks
[10:16] {thomcbell} flat fio
01[10:16] {Threei}  nice insipration this morning, tbell
[10:16] {nemo} spy chart compressing
[10:16] {scottie} short 20 then ?
01[10:18] {Threei}  could be... if SPY loses .20, waterfall should follow
[10:18] {dino} tol hl l .31
01[10:18] {Threei}  aka cascade
[10:20] {cipher} out fran .06 +.25
[10:20] {thomcbell} tibx looking like it could break now
[10:20] {dino} out fran +.24 ty cipher
[10:20] {cipher} yw
01[10:21] {Threei} Short Setup: CAT  .50 break hl
01[10:21] {Threei}  If holds  .60
01[10:21] {Threei}  aggressive for .40 break
01[10:21] {Threei}  1:1
01[10:22] {Threei}  my nagging suspicion was nagging me for a reason
[10:22] {Will49} you're obviously sensitive to nagging :)
01[10:23] {Threei}  nemo's bad influence... I wasn't this sensitive until I met him
[10:23] {thomcbell} FB feeling lower to me again
01[10:24] {Threei}  on every turn, he is like "dude, be sensitive..."
[10:24] {thomcbell} feel like this FB is going to have a big down move down to 26.60 or so
[10:24] {nemo} ?
[10:24] {thomcbell} waiting for setup
[10:25] {thomcbell} 27.32 break if holding 27.42
[10:27] {thomcbell} FB invalidated
[10:27] {thomcbell} going to continue to watch it
[10:28] {thomcbell} VAD lvs 43.50 break if holding 43.60 ?
01[10:28] {Threei}  I like it
01[10:28] {Threei}  a lot of air under
01[10:29] {Threei}  A Reuters poll earlier this year found that nearly one in four Americans and one in seven worldwide believe the world will end during their lifetime.
[10:29] {dino} "their" world
[10:31] {thomcbell} target is 43.30 on LVS
01[10:32] {Threei}  vwap 43.09
01[10:32] {Threei}  damn you nemo
01[10:33] {Threei} Short Setup: JCP  .50 break
[10:33] {thomcbell} im still gong to play FB 27.32 break with a half lot
01[10:34] {Threei}  If holds  .60
[10:36] {dino} gut says up
01[10:36] {Threei}  SPY?
01[10:36] {Threei}  yeah
[10:36] {thomcbell} fb invalidated
[10:37] {patel} thoguhts on LVS
[10:38] {thomcbell} 43.60 is my stop so out here
[10:39] {dino} out tol .74, +.44
01[10:39] {Threei}  JCP 1:1
[10:42] {dino} out jwn .69, +.29
[10:42] {dino} cbrl thinny looks like wants higher
01[10:43] {Threei}  1:2
01[10:43] {Threei}  near perfect morning
01[10:43] {Threei}  rinse for partial and one stop
01[10:44] {Threei}  the rest work like charm
[10:44] {patel} gj
[10:44] {patel} I didnt get in JCP
[10:44] {patel} bad executions on my part this morning.
[10:44] {Will49} hitting on all cylinders today Vad
01[10:44] {Threei}  JCP was easy...
01[10:44] {Threei}  even bounced right above trigger twice for an entry
[10:45] {patel} yeah saw that as well.
[10:45] {Will49} that the uptick rule in play?
01[10:45] {Threei}  no
01[10:45] {Threei}  uptick rule kicks in for stocks that are down over xx%
01[10:45] {Threei}  10 I think
[10:46] {Will49} I hit the bid and laser said "not on short list"
01[10:46] {Threei}  not in inventory then
[10:46] {patel} Will was that JCP
[10:46] {Will49} yes
[10:46] {patel} I have laser as well so I probably couldnt have shorted it.
01[10:46] {Threei}  must be limited inventory
01[10:47] {Threei}  so those who entered earlier exchausted supply
[10:47] {Will49} yeah, i was a tad late
[10:47] {dino} cbrl hl l ave .88
[10:47] {Will49} YOU exhausted their inventory all by yourself vad :)
01[10:48] {Threei}  lol
[10:48] {Will49} leave some for the litle guys next time :)
01[10:49] {Threei}  yeah, little nemo on my shoulders too says "dude, be sensitive"
[10:49] {dino} hardly
[10:49] {nemo} now you're just being mean
01[10:50] {Threei}  sorry
[10:50] {nemo} frickin' hytraya jopa
[10:50] {nemo} zhopa
[10:50] {nemo} whatever
01[10:50] {Threei}  lol
[10:55] {thomcbell} wow lvs bananas
[10:55] {scottie} AKAM l .30 ?
[10:57] {scottie} too fast
01[10:57] {Threei}  ummm
01[10:57] {Threei}  yes :)
[10:57] {patel} FCX 31.26 how does that sound
01[10:58] {Threei}  yes but hl
[10:58] {patel} stop
[10:58] {patel} anything better than 31.09
01[10:58] {Threei}  under .10, yes
01[10:58] {Threei}  look at it this way:
01[10:59] {Threei}  we had near-perfect morning, every trade worked as charm,
01[10:59] {Threei}  esasy money has been made,
01[10:59] {Threei}  lunch time approaching
01[10:59] {Threei}  so keep risk down now, move to hl
01[10:59] {Threei}  or to trades where speed is lower, stops are tighter
[11:00] {patel} i think break of 31.33 and this thing could fly
01[11:00] {Threei}  {FCX} are you calling me a pig?
[11:00] {thomcbell} short setup lvs 44.20 break if holding 44.30
[11:00] {dino} vra hl l .49
[11:01] {thomcbell} target is 44
[11:02] {thomcbell} lvs 1:1
01[11:02] {Threei}  good one again
01[11:02] {Threei}  what did you have for breakfast today tbell?
01[11:02] {Threei}  my bet is eggs and bacon
[11:02] {Will49} tks tbell
[11:03] {thomcbell} got my 0.10 cents back from lvs - stop before
01[11:03] {Threei}  trail FCX to .14 now
01[11:04] {Threei}  LVS target hit
[11:04] {thomcbell} out lvs
01[11:04] {Threei}  wtg
01[11:05] {Threei}  smooth sailing
[11:05] {Will49} love it
[11:05] {dino} gj
01[11:05] {Threei}  I knowe why my win rate is above clouds this month - I am overcompensating for the vacation coming
01[11:06] {Threei}  what's your deal, tbell?
[11:07] {thomcbell} u need to take credit for it Sensai
01[11:07] {Threei}  gladly... I take credits even when no one gives them to me {G}
[11:07] {thomcbell} fb 27.45 break if holding 27.55 - or should we just leave this one alone
01[11:08] {Threei}  if not for little nemo on my shoulder, I would be running around with baseball bat, beating up people for credits
01[11:09] {Threei}  but his incessant nagging "be sensitive dude..."
[11:09] {scottie} TV l .80 ?
[11:09] {thomcbell} looks like aggressive entry for 27.32 break on fb
01[11:09] {Threei}  yup
01[11:10] {Threei}  hl of course
[11:10] {scottie} missed it
[11:10] {scottie} damn I'm slow this morning
[11:10] {scottie} :)
01[11:11] {Threei}  watch GLD for long on quick move to about .55-.60
[11:13] {dino} hes hl l .50
01[11:13] {Threei}  (US) House Minority Leader Pelosi: GOP Fiscal cliff offer is an 'assault' on the middle class; plan does not move the country any closer to a dea
[11:16] {thomcbell} stop to 27.49 too limit risk on FB
[11:17] {patel} is your target still 26.60?
[11:18] {thomcbell} i dont know what that move was about on lvs
[11:18] {thomcbell} gimme a break
[11:20] {thomcbell} and now the longs get scared
[11:20] {thomcbell} lol
01[11:20] {Threei} Long Setup:  GLD  .60 break hl
[11:21] {patel} I will be cheering you on from the sidelines on FB.
01[11:21] {Threei}  If holds  .50
[11:21] {thomcbell} FB stop to break even
[11:22] {thomcbell} flat fb -
01[11:25] {Threei}  1:1
[11:27] {thomcbell} if u like gld then gdx long setup 45.85 break if holding 45.80
[11:27] {thomcbell} Vad
[11:28] {scottie} +.18 tks Vad
01[11:28] {Threei}  :)
[11:28] {thomcbell} im not playing the gdx
01[11:29] {Threei}  not sure about it too
01[11:29] {Threei}  chart rather feels to me like .80 break short
[11:30] {thomcbell} y could be two sided
01[11:31] {Threei}  19% Favor New Government Spending to Stimulate Economy
01[11:31] {Threei}  strangely low number
[11:33] {thomcbell} FB back near pivot
[11:34] {thomcbell} feel like we need to find setups near support and resistance levels - pretty clear on support at 26.50 but not on resistance - nemo/Dino?
[11:35] {thomcbell} slw 35.42 break if holding 35.50 - half lot
[11:38] {thomcbell} ok slw invalitated
01[11:39] {Threei} Short Setup: GLD  .55 break hl
01[11:39] {Threei}  If holds  .65
[11:41] {thomcbell} slw still valid
[11:41] {dino} out vra .73, +.24
01[11:41] {Threei}  wtg'
01[11:42] {Threei}  1:1
[11:42] {dino} ty, slow one
[11:42] {dino} out cbrl flat
[11:44] {Will49} tks tbell out gdx 1:1
01[11:44] {Threei}  good one again
01[11:45] {Threei}  GLD 1:2, out
[11:45] {scottie} +.19 tks Vad :)
01[11:45] {Threei}  we are unstoppable today
[11:45] {Will49} jinx......
01[11:45] {Threei}  must be patel's fault
[11:46] {robbers} Literally unSTOPpable.
[11:46] {patel} u guys are always unstoppable....
[11:46] {patel} on GLD
[11:46] {patel} i have to be a scalper on that one
[11:46] {patel} cant do much with 200 shares
[11:46] {patel} lol
[11:49] {thomcbell} covered 1/2 slw 35.33
[11:49] {patel} nice job
[11:50] {patel} missed out on that one.
[11:51] {thomcbell} lvs short setup 44 break if holding 44.11
[11:53] {dino} back in ten
01[11:58] {Threei}  GDX 1:2
[12:00] {thomcbell} covering slw 35.27
[12:02] {thomcbell} lvs 1:1
[12:05] {dino} gj
[12:06] {dino} ioc drop
[12:07] {thomcbell} lvs stop to 43.99 to ensure fill
[12:09] {Beau} dino, what stops do you use with full?
[12:13] {dino} .12 fl, hl .30, sm .38
[12:13] {dino} i play more volitile stocks than most
[12:13] {Beau} thank you
[12:13] {dino} np
[12:13] {dino} just missed ioc. was at .94
[12:15] {dino} vra new low
[12:19] {thomcbell} lvs stop to 43.91
[12:19] {patel} dang thomcbell you are FIRE!!!! :D
[12:20] {nemo} Great...now I'm hearing Springsteen tunes in my head
[12:30] {_syncc} Opinions on ABX?
[12:31] {nemo} well, it's currently moving with the spy
01[12:31] {Threei}  short on .40 break
01[12:31] {Threei}  if stays under .50
[12:32] {_syncc} nice, thanks
01[12:32] {Threei}  for a day trade that is
[12:32] {_syncc} how about long?
[12:32] {_syncc} it scares me.. ahah
01[12:32] {Threei}  daily is two-sided, short on .25 - .40 zone break, or long on 34 break
01[12:33] {Threei}  for intraday trade, I wouldn't play it long
01[12:33] {Threei}  not that it can't go up,
01[12:33] {Threei}  but there isno credible setup
[12:33] {thomcbell} fcx looks like death again
[12:33] {_syncc} thanks vad!!
01[12:34] {Threei}  sure
01[12:34] {Threei}  missed most of fantastic day of trading, syncc...
01[12:34] {Threei}  one of those "can do no wrong"
[12:35] {_syncc} im Sync from caracommunity btw, just thought Id check out this chat
01[12:35] {Threei}  caused by some change in tbell diet I suspect
01[12:35] {Threei}  cool, welcome to the room
[12:35] {_syncc} Oh I know, I have been studying for my exams all day, worst timing.
[12:35] {Will49} syncc..are you north of 49th parallel?
01[12:36] {Threei}  btw, I just learned that according to native american zodiac I am an owl... there is one thing terribly wrong with this:
01[12:36] {Threei}  description, while mostly correct, starts with very misleading "cordial and inviting"
[12:36] {_syncc} Hate to be ignorant Will, but what is the 49th parallel?
01[12:36] {Threei}  http://nativeamericanencyclopedia.com/native-american-zodiac-animal-owl/
[12:36] {nemo} oh jeez...it latitude syncc
[12:36] {Will49} southern border of canada..mostly
01[12:36] {Threei}  divide between US and Canada, sync :)
[12:37] {_syncc} Im in Toronto, hows that? Quite close to Bill actually.
[12:37] {Will49} saw your Rogers Cable is signature
[12:37] {_syncc} I go to Schulich, and live 15 mins away
[12:37] {Will49} excellent school
01[12:37] {Threei}  have you attended Sept conference?
[12:37] {_syncc} horrible school
[12:38] {_syncc} my friends and I and getting our butts kicked at the moment :)
[12:38] {dino} trading?
[12:38] {_syncc} exams truly take a toll
[12:38] {thomcbell} totally bizzare FB action
01[12:39] {Threei}  no, that's business school, dino
[12:39] {dino} ahh
[12:39] {thomcbell} a big move should come out of this pattern
01[12:40] {Threei} Short Setup: QCOR  25 break hl
01[12:40] {Threei}  If holds  .10
[12:41] {thomcbell} lvs could correct decently if 43.78 gives
[12:41] {thomcbell} staying away for now
[12:41] {Will49} not on short list vad
01[12:41] {Threei}  (US) Senate Majority Leader Reid (D-NV): Congress should give President Obama the authority to raise the debt ceiling- Until the Republican side are willing to move on tax hikes, there will be no consideration of spending cuts. - Want to see a stimulus component to any budget deal (as the President's plan calls for). ***Earlier in the session, Senator McConnell (R-KY) said a permanent debt ceiling increase is not going to happen
01[12:41] {Threei}  (US) White House: 14th amendment does not proivide the President the power to ignore the debt ceiling issue
01[12:42] {Threei}  good thing will
[12:42] {dino} mw hl s .51
[12:42] {Will49} amen
[12:42] {Will49} wtf Vad..thatis dino's kind of trade
[12:43] {Will49} big spread
01[12:43] {Threei}  yeah
[12:43] {Will49} I though I was hallucinating
[12:43] {dino} you say that like its a bad thing
[12:44] {Will49} nightmare
[12:44] {Will49} see?
[12:48] {patel} Vad do you still host training on a cruise.
[12:48] {_syncc} booze cruise? :)
[12:49] {Will49} yeah Vad's last cruise was Costa Concordia
[12:49] {patel} is it every year?
01[12:50] {Threei}  cruise?
[12:50] {patel} y
01[12:50] {Threei}  never did that
[12:50] {patel} hmm
01[12:51] {Threei}  Bahamas twice but it was land
[12:51] {_syncc} just shorted ABX at .41
[12:51] {patel} back in 2009
01[12:51] {Threei}  Nassau, Freeport
01[12:51] {Threei}  2009 and 2010
[12:51] {patel} oh okay.
[12:51] {Will49} scottie...see PM
01[12:52] {Threei}  then Whistler in 2011 and Toronto 2012
[12:56] {dino} mw stop -.25
[12:57] {_syncc} small gain on ABX short, just covered it at .33
[12:57] {_syncc} not sure to do all these abbriviations, sorry if typing it out is too much to read
01[12:58] {Threei}  I think it has more potential
01[12:58] {Threei}  but things are slow
[12:59] {_syncc} impatience is my kryptonite
01[12:59] {Threei}  nothing years wouldn;t cure :)
[12:59] {_syncc} anyway im off, ill check in tomorrow as well for a bit. will read the log tonight. thanks everyone
01[12:59] {Threei}  make suere you read http://www.realitytrader.com/tradingroom/#instructions
[12:59] {_syncc} will do!
01[12:59] {Threei}  take care syncc
01[13:01] {Threei}  see ABX dropping more
01[13:01] {Threei}  1:1
[13:02] {patel} i didnt see the abx call
01[13:02] {Threei}  12:30] {_syncc} Opinions on ABX?
01[13:02] {Threei}  [12:31] {nemo} well, it's currently moving with the spy
01[13:02] {Threei}  [12:31] {Threei} short on .40 break
01[13:02] {Threei}  [12:31] {Threei} if stays under .50
[13:03] {patel} gotcha. I wasnt not at my computer.
[13:06] {dino} ioc hl l .55 wide
[13:08] {thomcbell} lvs vulnerable but im leving it alone
[13:16] {dino} vra l .84
[13:17] {nemo} PAY
[13:17] {nemo} PAY
[13:17] {nemo} PAY
01[13:17] {Threei}  keep calm nemo
[13:17] {nemo} YAP
[13:17] {nemo} YAP
[13:17] {nemo} YAP
[13:17] {Will49} lol
01[13:18] {Threei}  (US) US Senate Republicans have filibustered the vote regarding potential power for the President on debt ceiling
01[13:18] {Threei}  those bastards
[13:18] {dino} good
[13:20] {nemo} budgets and the power to tax are in Congress
[13:20] {nemo} that would be a significant variance from the Constitution
[13:21] {Will49} POTUS is watching the Egyptian guy
01[13:22] {Threei}  clumsy and inelegant... take pages from Stalin's book if you want real dictatorship
[13:22] {nemo} Mao did a good job too
[13:22] {dino} lol will, but seems so. he wats all powers
01[13:22] {Threei}  a few waves of cleansing among party faothful, and you are good for decades
[13:23] {nemo} I like the match factory story
01[13:23] {Threei}  yeah... famous one
01[13:24] {Threei}  do I need tp retell it or everyone knows?
[13:24] {dino} vra to .02
[13:25] {dino} out .03 slip, +.19
[13:25] {Will49} tell it
[13:25] {nemo} Tell us a story...
[13:25] {dino} story time
01[13:25] {Threei}  there were a lot of complaints about quality of matches produced by about the only soviet factory that made them
01[13:26] {Threei}  when story reached Stalin, he invited factory director for a visit,
01[13:27] {Threei}  which was known as "call to a rug"
01[13:27] {Threei}  and usually promised nothing but troubles
01[13:27] {Threei}  and troubles by Stalin's measures meant jail for decades
01[13:27] {Threei}  if not sownright execution
01[13:28] {Threei}  So, director walks in his office, white and trembling,
01[13:28] {Threei}  Staling sits at his desk, reads sone papers, pays him no attention for a few minutes
[13:28] {dino} ioc stop -.22
01[13:28] {Threei}  then picks up his famous pipe, stocks it with tobacco,
01[13:29] {Threei}  takes out matches produced by this same factory
01[13:29] {Threei}  strikes one, no flame
01[13:29] {Threei}  second, third, forth
01[13:29] {Threei}  throws the bof on the floor, takes out self-made lighter and lights the pipe up,
01[13:30] {Threei}  all that with no single glance at poor guy
01[13:30] {Threei}  then dismisses him with slight jesture of hand
01[13:30] {Threei}  guy walks out almost unconscious
01[13:31] {Threei}  Literally next day, quality control on the factory exceeds wortkers in numbers
01[13:31] {Threei}  director personally checks matches
01[13:31] {Threei}  no complaints about quality since then for many many years
[13:32] {scottie} true story ?
01[13:32] {Threei}  yup
[13:32] {nemo} yep
[13:32] {nemo} lumpens are lumpens
[13:32] {nemo} lumpins
[13:32] {nemo} then there are the stories right before he died
[13:32] {nemo} spent last few days alone, supposedly
[13:32] {nemo} they could here voices through the door
[13:33] {nemo} when he was supposed to be in there alone
[13:33] {nemo} Zhukie story
01[13:33] {Threei}  the best book ever about him, http://goo.gl/xOCEl
[13:37] {thomcbell} stop is close enuf - FB short setup 27.44 break if holding 27.50
[13:38] {nemo} o.k. I'm outta here...you folks have hurt my feelings
[13:39] {dino} lol
[13:39] {Will49} hahahaha
[13:39] {Will49} Mr sensitive himself
[13:44] {thomcbell} long setup wlt 33.67 break if holding 33.57
[13:51] {thomcbell} flat fb
[13:51] {thomcbell} looks like a waste of time
01[13:52] {Threei}  (IR) US Govt reportedly to extend waivers by 6 months for India, South Korea, and Turkey regarding trade sanctions with Iran
01[13:52] {Threei}  is it a joke?
[13:54] {dino} indeed it is. classic obummer
[13:57] {dino} qcor spike, news?
01[13:58] {Threei}  not since 12:38
01[13:58] {Threei}  Citron dissing them
01[13:58] {Threei}  (again)
01[13:59] {Threei}  Facebook Said to have hired former Expedia exec to head up its travel business - travel industry blog
[14:00] {scottie} MGM l here if holds .80 ?
01[14:00] {Threei}  I'll pass...
[14:00] {scottie} ok
01[14:00] {Threei}  RIMM another round of takeover chatter
[14:11] {dino} last try ioc hl l .47
[14:14] {thomcbell} FB near moment of short term truth
[14:14] {patel} is 27.31 an entry for short
[14:14] {dino} hes to .59
01[14:15] {Threei}  I think so
[14:17] {thomcbell} oh damn FB that 0.44 entry should have not been stopped
[14:19] {thomcbell} its breaking a 2 day pattern to the downside here
[14:19] {Will49} tks tbell out at +.13
[14:19] {Will49} just scalpin'
01[14:19] {Threei}  get out FB
01[14:19] {Threei}  too vertical
[14:20] {dino} out hes .59, ave +.15
[14:20] {patel} out of FB
[14:20] {thomcbell} u mean this down move?
01[14:20] {Threei}  yes, close short
01[14:21] {Threei}  good one patel
[14:21] {patel} tks
01[14:21] {Threei}  scottie, you here?
[14:21] {patel} went in at 27.31 and partial out at 27.19 and 27.12
[14:21] {scottie} yes
[14:21] {Will49} gj patel
01[14:22] {Threei}  good... you missed some good days or hours lately, wanted to make sure :)
[14:22] {robbers} wtg
[14:22] {patel} tbell entry at .44 would have been awesome
[14:22] {scottie} I'M having a good day, tks Vad
01[14:22] {Threei}  :)
[14:23] {thomcbell} i did it and stopped it really for no reason because i got skittish
[14:23] {patel} i knew if that thing broke LOD it could go
[14:24] {dino} out ioc .72, +.23
[14:29] {dino} meli drop
[14:33] {dino} meli hl l .90
[14:43] {patel} any potential short setup 27 break
[14:43] {patel} FB
01[14:43] {Threei}  yes but take risk down a notch
01[14:43] {Threei}  hl
01[14:44] {Threei}  move becomes excessive
[14:44] {patel} I am leaving it alone.
[14:44] {patel} Chicken to do it...
01[14:44] {Threei}  doesn't mean it can't go lower but snapbacks become more vicious
[14:45] {thomcbell} yy
01[14:49] {Threei}  Actor Stephen Baldwin arrested for allegedly failing to file income tax returns in New York
01[14:56] {Threei}  now I know what insanity is... if you want to spend 6 minutes to find out: http://www.youtube.com/watch?v=4HJ54RRB7OU
01[14:57] {Threei}  FB works
[14:57] {patel} yeah
[14:57] {patel} but oh well
[14:57] {patel} better safe than sorry
01[14:59] {Threei}  from the same guy:
01[14:59] {Threei}  I am amazed at how many people still believe the deficit is a problem. Where is the problem, show me?... For what it�s worth, here�s my plan: Forget the deficit. No, wait, even better�run it up. Run it up big time, like we did in WWII, to 30% of GDP. But instead of building armaments, let�s rebuild our roads, bridges and infrastructure, provide gov�t paid healthcare to people (fire the insurance companies!), invest in education by building schools and hiring teachers (and paying them well), expand basic science and research, explore alternative energy, create new transportation systems. Let�s do all these things.
[15:00] {dino} he totally forgets about interest payments
01[15:01] {Threei}  etc, there is more but I can't stand this anymore
01[15:01] {Threei}  including famous "we owe it to ourselves so it's not a debt"
[15:02] {Will49} what a jerk!
01[15:06] {Threei}  speaking of vicious snapbacks, see FB almost 20 cents jump
[15:06] {patel} yeah
[15:07] {thomcbell} FB 27 break if holding 26.94
[15:07] {thomcbell} target 1:2
[15:10] {thomcbell} invalidated FB - could be a rinse
[15:11] {scottie} gotta go, see you all tomorrow
01[15:11] {Threei}  take care scottie
[15:11] {dino} cya
[15:11] {Will49} cheers scottie
[15:24] {dino} rkus spike
[15:24] {patel} I think FB has potential to go up.
[15:30] {thomcbell} looks like coin flip on FB
[15:30] {patel} i know right
[15:31] {thomcbell} rather be long however
[15:33] {patel} GMCR keeps making new lows.
01[15:33] {Threei}  who's happy with today's trading, vote for the 111 Trades course, will ya
01[15:33] {Threei}  some weirdos overtook us
[15:33] {patel} overtook us
[15:34] {patel} ???
[15:34] {patel} vote where?
01[15:34] {Threei}  http://www.traderplanet.com/star-awards/vote/
01[15:35] {Threei}  scroll down to Trading coyurses, select 1st place for 111 Trades and click Submit
01[15:36] {Threei}  http://www.realitytrader.com/traderplanet.html
[15:36] {dino} out meli .14, +.24
[15:38] {Will49} finally, eh dino?
[15:38] {Will49} Vad...I'm happy and I voted
01[15:38] {Threei}  ty
[15:39] {Will49} second best day I've had since starting
[15:39] {robbers} Congrats!
[15:39] {dino} wtg will
[15:39] {Will49} tks guys
01[15:39] {Threei}  btw patel, in case you didn't know... as a room member you are entitled to 30 % discount for the course with coupon (edited out)
[15:39] {dino} will, yeah that meli froze in 5 cent range for 40 min
01[15:39] {Threei}  great to hear will
[15:40] {robbers} Great course, will want to make you vote for it, LOL.
[15:40] {robbers} Truly is a great course.
01[15:40] {Threei}  :)
01[15:40] {Threei}  wait till you go over Taoist Trader...
[15:41] {robbers} Just read the samples the other night, sounds interesting.
[15:41] {robbers} there's what, five or six pages to look at?
01[15:41] {Threei}  in the sample?
[15:42] {robbers} Free pages to preview before buying.
01[15:42] {Threei}  right
01[15:42] {Threei}  my absolutely best, IMO
01[15:42] {Threei}  and the least popular
01[15:42] {Threei}  because it's WORK
[15:42] {patel} I ordered a value package from you back in 2009.
[15:42] {thomcbell} it is a goodie
[15:43] {patel} is that the same thing
[15:43] {patel} it had a few books
01[15:43] {Threei}  no
01[15:43] {Threei}  http://www.realitytrader.com/111trades.html
01[15:50] {Threei}  OK guys, no more trades
01[15:50] {Threei}  thank you all
01[15:50] {Threei}  have a great evening, see you tomorrow
[15:50] {Will49} cheers
[15:50] {patel} take care
[15:51] {dino} thx all, decent day, some great ideas
[16:02] {thomcbell} good night
[16:02] {patel} good night