Dec 14 2012

Very nice day concluding two-weeks long winning run. Perfect way to take a break for vacation.

ATTENTION: Room is going to be on autopilot till Dec 26. All current trialers are welcome to stay and communicate with room members.  All new trials will be granted after Dec 26. All orders requiring hard copy shipping submitted between Dec 16 and Dec 26 will be shipped after Dec 27. 111 TRADES and A TAOIST TRADER online courses access will be granted as usual, with no delay.

Session Time: Fri Dec 14 00:00:00 2012

[08:43] {dino} gm

01[08:43] {Threei}  dino :)

[08:43] {cipher} gm

01[08:43] {Threei}  cipher :)

01[08:45] {Threei}  ADBE, what the

01[08:45] {Threei}  look at guidance

01[08:58] {Threei}  *(US) DEC PRELIMINARY MARKIT US PMI MANUFACTURING: 54.2 V 51.8E

[09:00] {scottie} good morning

01[09:00] {Threei}  scottie :)

[09:01] {dino} bby drop

01[09:03] {Threei}  extended deadline for bid by founder into next year

01[09:07] {Threei}  Obama: Marijuana users in states that have legalized it should not be 'top priority' of federal law enforcement

01[09:07] {Threei}  I didn't think it ever was

[09:14] {Beau} good morning

01[09:14] {Threei}  beau :)

[09:23] {Will49} Good morning

01[09:24] {Threei}  will :)

[09:25] {dino} so now the king is going over federal law

01[09:26] {Threei}  kings don't like to be restricted by laws... they think they know better

[09:26] {ese} mornin

[09:28] {ese} won't be sticking around too long this morning.........just long enough to watch dino and cipher become more stinking rich

01[09:29] {Threei}  ese :)

01[09:29] {Threei}  keeping an eye on ABX

01[09:29] {Threei}  can be inetersting short candidate

[09:31] {dino} lol ese

[09:33] {thomcbell} FB under serious pressure 

01[09:33] {Threei} Short Setup: ABX  .30 break

01[09:34] {Threei}  FB, let it work out opening volatility

01[09:34] {Threei}  too jumpy

[09:34] {ese} am still long auy

01[09:35] {Threei}  change ABX trigger to .40 break

01[09:36] {Threei} Short Setup: GDX  .65 break

01[09:36] {Threei}  If holds  .70 

[09:37] {robbers} missed it

[09:37] {scottie} ditto

[09:37] {dino} vsm l aapl .62 wide

01[09:38] {Threei}  let's see if it bounces for double top

01[09:39] {Threei}  nope... start covering who got it

[09:39] {scottie} abx not in short list

01[09:39] {Threei}  anyone has it?

01[09:39] {Threei}  if yes, stop is obvious

[09:39] {Will49} no

[09:40] {thomcbell} short setup fcx 33 break if holding 33.10

[09:40] {thomcbell} fcx invalid 

[09:41] {thomcbell} aig looks like 34 break if holding 34.10

01[09:42] {Threei}  very much so

01[09:43] {Threei}  look at daily too

01[09:43] {Threei}  that 34 break can be a trigger to cascade

[09:43] {thomcbell} although - i think 33.75 is has a confluence of support - uptrend since 30.75 and gap fill 

[09:44] {thomcbell} AIG invalidated

01[09:45] {Threei}  for now, but it can be one of those on again off again, with eventual trigger later on

[09:45] {cipher} hesl l .59

[09:46] {cipher} out .72 +.13

[09:47] {thomcbell} wow lvs 

[09:47] {cipher} sorry wrong symbol hesl=life

01[09:48] {Threei}  that's OK cipher, we played both

[09:49] {cipher} scanner busy this am

[09:49] {cipher} can't keep up

[09:49] {cipher} posting

01[09:49] {Threei}  quite good smackdown FB

[09:49] {ese} very busy

01[09:50] {Threei} Short Setup: AIG  34 break

01[09:50] {Threei}  If holds  .10 

01[09:50] {Threei}  target 1:4 - 1:5

[09:51] {nemo} 33.90 is the 50 day

01[09:51] {Threei}  grrr... was looking at 28 short FB, didn't get readable setup

[09:52] {thomcbell} no too crazy the action in it right now 

[09:52] {thomcbell} rimm 13.71 break if holding 13.81

[09:52] {thomcbell} target 1:2

[09:53] {thomcbell} i think 33.75 level will be a very good long on aig 

[09:54] {ese} what was the reason for the FCX haircut a week ago

[09:54] {nemo} acquisition...google it

[09:55] {nemo} frickin' blonde musicians

01[09:55] {Threei}  bought two companies

[09:55] {ese} lol

[09:55] {ese} so it cost them alot of cash........hmmmmmmm

[09:55] {dino} two which were partially owned by ceo of fcx

[09:55] {thomcbell} rimm 1:1

[09:56] {ese} ahhhhhhhh

[09:56] {nemo} whether they will be dilutive or accretive to earnings is as of yet unclear

[09:56] {ese} the thick plottens there

01[09:56] {Threei}  good read on RIMM

[09:56] {ese} interesting

01[09:56] {Threei}  look how AIG tries to defend 34

[09:57] {thomcbell} the 14 break was a goodiee too

01[09:57] {Threei}  cascade I amtelling you... cascade...

[09:57] {nemo} gonna' bounce at .90

01[09:58] {Threei}  no way

01[09:58] {Threei}  will slice through it as there is nothing but thin ait

01[09:58] {Threei}  air

[09:59] {dino} hot knife thru butter

[09:59] {thomcbell} now if it holds and guys were leaning on it short it could have a big move in other direction

01[09:59] {Threei}  hot knife through pockets of bottom fishers

[10:00] {Will49} it's metaphor morning!

01[10:00] {Threei}  MMM

[10:00] {Will49} or is that a simile?

01[10:00] {Threei}  miced metaphor morning

[10:00] {nemo} better than semaphore morn ing

01[10:00] {Threei}  mixed

[10:00] {cipher} zumz l .77

[10:00] {nemo} cipher only sane one

[10:00] {Will49} quick nemo

01[10:01] {Threei}  that's not the saddest state of affairs - now if nemo was the sane one, we would be finished

[10:01] {thomcbell} covering another 1/4 rimm 13.56

01[10:02] {Threei}  wtg

[10:02] {ese} eeeeessshhh.......shudder the thought

[10:02] {Will49} we're all fiddling while tbell makes money

[10:02] {thomcbell} aig two sided 34.09 break or 34 break 

[10:03] {thomcbell} flat rimm

[10:03] {cipher} tna l .36

01[10:04] {Threei}  AIG is so ready to disappoint bitterly those who count on support holding

01[10:04] {Threei}  exit door will be very very narrow

[10:04] {dptl} good morning

01[10:04] {Threei}  dp :)

[10:05] {ese} dp

[10:05] {ese} show us how to do it dp

01[10:05] {Threei}  frikin FB

01[10:06] {Threei}  totally got away from us

[10:06] {cipher} out zumz .66 -.11

[10:07] {cipher} out tna .46 +.10

[10:07] {thomcbell} cant believe it hasnt broken yet 

01[10:08] {Threei}  very important support... a lot of forces trying to defend it

[10:08] {nemo} this could go on for quite awhile, no momentum in the market

01[10:08] {Threei}  which makes it so promising if breaks

01[10:08] {Threei}  let me repeat: frikin FB

[10:11] {nemo} you in already vad?

[10:12] {dptl} mcp .15 short?

[10:12] {Will49} after all tha waiting :(

[10:12] {scottie} not in short list

[10:12] {nemo} yeah, me neither

[10:13] {cipher} IBM L.85

01[10:13] {Threei}  hl from .04, no more inventory for second half on a break

[10:13] {ese} have a great weekend all........catch you monday

01[10:14] {Threei}  have a good one ese, see you in a week and half

[10:14] {thomcbell} i am surprised there wasnt volume on that break - a lot preceeding it 

[10:14] {cipher} out ibm .30 +.45

[10:15] {thomcbell} i am looking for a long setup on this now vad 

01[10:16] {Threei}  this SPY bounce lept it up a little... that's all

[10:16] {cipher} agnc l .10

01[10:16] {Threei}  .90 sliced through easily

[10:16] {dptl} met .20 short?

01[10:17] {Threei}  probably

01[10:17] {Threei}  1:2...

[10:17] {robbers} aig falling off its own fiscal cliff at the moment.

01[10:17] {Threei}  your projected .75 is coming but I don't believe it will hold

01[10:17] {Threei}  lol robbers

[10:17] {cipher} out agnc .15 +.05

01[10:18] {Threei}  look at that bid

01[10:18] {Threei}  hit

01[10:18] {Threei}  1:3

[10:18] {robbers} out 1/2.

[10:22] {thomcbell} i sent you an email Vad

[10:22] {thomcbell} of what i am looking at in AIG

[10:23] {dptl} half out met

[10:23] {thomcbell} AIG Vad :)

[10:23] {thomcbell} your trade was perfect  but that was a serious bounce off that level

01[10:24] {Threei}  yup

01[10:24] {Threei}  well, 1:3.5

01[10:26] {Threei}  I don't mind, and consider it a nice cascade - which is the word that for some reason annoys nemo very much so I use it deliberately and generously

01[10:26] {Threei}  and it took MET with it, so dp got his side trade off AIG

[10:28] {Will49} ouy MET tks dp

[10:28] {Will49} out

[10:28] {cipher} sndk l.46

01[10:28] {Threei}  good one guys

[10:30] {cipher} out sndk .61 +.15

[10:32] {dptl} yw Will

[10:34] {dptl} stop above .10 now

[10:35] {dptl} out some more here met

[10:37] {thomcbell} gdx looks terrible 

[10:37] {cipher} MCRS S .95

01[10:37] {Threei} Short Setup: GDX  46 break

01[10:37] {Threei}  If holds  .10 

[10:39] {nemo} cvs

[10:43] {thomcbell} slw looks like short setup too 

[10:43] {dptl} stop to 32.01 met for last part

[10:45] {thomcbell} rimm jis just so resilient 

[10:45] {Will49} nicely traded dp

[10:45] {dptl} to above .90 now

[10:46] {dptl} bidding .71 on it to clear

[10:47] {Will49} oops

[10:47] {dptl} out

[10:47] {Will49} congrats

[10:47] {dptl} :)..ty

[10:52] {dino} qcom gap filling

[10:52] {dino} hl l .75

[10:53] {dino} stop is lod

01[10:53] {Threei} Short Setup: FB  .40 break

01[10:53] {Threei}  If holds  .50 

01[10:58] {Threei}  45% of Likely U.S. Voters believe right-to-work laws are good for a state�s economy. Just half that many (22%) disagree.

01[11:00] {Threei}  FB is valid again

01[11:00] {Threei} Short Setup: GDX  .20 break

01[11:00] {Threei}  If holds  .30 

[11:02] {thomcbell} aapl chart looks pretty freaking scary

[11:04] {dptl} in fb

[11:04] {thomcbell} qcom horrendous action too 

01[11:04] {Threei}  FFG is welcome anytime now

01[11:05] {Threei}  1:1

[11:05] {dino} fb hl l .30

01[11:05] {Threei}  Invalidated  GDX 

[11:06] {dptl} out some fb ty

01[11:06] {Threei}  careful dino, we just phoned FFG in

[11:09] {dino} will do

[11:09] {Will49} FFG on hold

01[11:09] {Threei}  although he didn't pick up the phone

01[11:09] {Threei}  we left message with his secretary

01[11:10] {Threei}  who said demand for FFG services has tripled

01[11:11] {Threei}  he is no busy training some TFGs in select body part obesity

01[11:11] {Threei}  no = now

[11:11] {Will49} secretary is Flat Figured Girl

[11:11] {dino} why do you call it ffg?

01[11:12] {Threei}  Fat Finger Guy :)

[11:12] {dino} ahhh

[11:12] {dptl} lol

01[11:12] {Threei}  look yesterday's FB 1 min, his presence and ingfluence are very visible :)

01[11:13] {Threei}  variation of years-old swiss trainee joke :)

[11:26] {dptl} out fb

[11:27] {Will49} Tks Vad...FB

01[11:27] {Threei}  yw

01[11:28] {Threei}  not sure why you are exiting prematurely though

[11:29] {Will49} wer'e just wild and crazy guys

[11:29] {dptl} i was just thinking about that ...should of stay....

[11:29] {Will49} still working on the fear factor Vad

01[11:30] {Threei}  creative thinkers...

01[11:30] {Threei}  trading is not the time for creativity

[11:30] {Will49} thinking is the problem

01[11:30] {Threei}  trading is time for execution

01[11:30] {Threei}  and thinking is horrible horrible habit

[11:30] {Will49} knowing and doing are two different things, eh?

[11:31] {robbers} FB's traders finger right now is just slightly overweight.

[11:31] {dptl} :)..yep your right

[11:31] {dptl} thinking is the problem

01[11:32] {Threei}  good news is, it's nothing that alcohol woul;dn't cure

[11:32] {Will49} :)

[11:32] {robbers} LOL

[11:32] {dptl} lol

[11:32] {Will49} think I'll try trading half cut....see if that's better

01[11:32] {Threei}  as famous russian stand-up comedian said, Alcohol in small dozes is harmless in any amounts

[11:32] {Will49} lol

[11:33] {dino} lol

[11:33] {dptl} hes .65 short?

01[11:33] {Threei}  yes

01[11:34] {Threei}  1:2

[11:34] {scottie} 1/4 more out

01[11:35] {Threei}  rare case when his phrase is more or less translatable... attempts to translate him in English are famous for their futility

[11:35] {robbers} Same for the translator for some of my jokes.

01[11:36] {Threei}  he even did a routine once where his jokes were translated in English and back in russian, becoming unrecognizable, not even speaking of funny

01[11:37] {Threei}  in that routine there is an american producer, listening to his jokes in translation and asking: and they laugh at this over there? and he is famous overf there? who says? he does? anyone but his says this?

01[11:37] {Threei}  but him

[11:37] {dptl} where would you put stop on hes Vad .70? 

[11:37] {dptl} or .75

01[11:38] {Threei}  nah, .70

[11:38] {dptl} ok ty

01[11:38] {Threei}  too narrow to give it this much room

[11:38] {dptl} missed

[11:39] {dptl} :)

[11:39] {robbers} Is part of it cultural, Vad?  I know in Japan, the entire sense of humor was different, much less what gets lost in translation.

01[11:40] {Threei}  part is cultural, and part is based on reality of USSR that is unknown to foreigners

[11:41] {scottie} good eye on hes dp, missed it too

01[11:41] {Threei}  so there are plenty of things that are not being said in the joke, but understood by default by anyone who lived in those times

[11:41] {dptl} was changing pos size and it just went "_

01[11:41] {Threei}  and joke without that understanding completely dissolves

01[11:42] {Threei}  some of his jokes are understood or lost on generational basus now, those who were born too late to know soviet realities don't get them

01[11:43] {Threei}  and he has a joke about this too:

01[11:43] {Threei}  I am in a total win-win situation: eother our life becomes better or my jokes will live forever

[11:44] {dptl} lol..yep 

[11:45] {thomcbell} lvs 46.88 break if hldoking 46.78

01[11:45] {Threei}  here are some of them translated: http://blog.tanyakhovanova.com/?p=283

[11:46] {dino} pcyc drop

01[11:46] {Threei}  this one is in nemo's style:

01[11:47] {Threei}  Do not run from a sniper, you�ll die tired.

[11:47] {dptl} roflol

[11:47] {scottie} lol

[11:47] {Will49} good one!

01[11:48] {Threei}  and this one is absolutely soviet, I doubt it translates well:

01[11:48] {Threei}  A courteous man will not criticize a woman who carries a railroad tie awkwardly

[11:48] {Will49} no translation needed

[11:49] {Will49} careful Vad, BC human Rights Tribunal will get you for that joke :)

01[11:50] {Threei}  me speek no enlgisa

[11:50] {Will49} hahaha

[11:50] {Will49} they don't care

01[11:50] {Threei}  me no home

[11:52] {thomcbell} qcom looks like a long break of 60 or a short of 59.92 with a pattern failure 

01[11:53] {Threei}  tnis one is international... Everything in this world is relative. For example, the length of one minute depends on which side of the bathroom door you�re on.

[11:53] {Will49} lol

[11:53] {dptl} lol

[11:54] {scottie} lol

[11:55] {Will49} laughs from the 3 muskateers

[11:55] {scottie} who were 4 as everyone knows :)

[11:56] {Will49} yeah

[11:56] {dptl} here is my favorite: if 

01[11:56] {Threei}  I was wondering about that my whole childhood

01[11:56] {Threei}  that's all dp?

01[11:56] {Threei}  "if"?

[11:57] {dptl} if you wake up in the morning and you don't need to get up ,then you were sleeping standing

[11:57] {Will49} can't tell a joke and execute at same time eh dp?

[11:57] {scottie} lol

[11:58] {thomcbell} qcom 1:1

[11:59] {thomcbell} multiple defenses apparently 

[12:00] {thomcbell} stop to break even on qcom 

[12:04] {thomcbell} got stopped on qcom 

[12:05] {thomcbell} damn rinse on qcom

[12:06] {scottie} +.29 tks Vad

[12:06] {Will49} Have a good weekend guys...got people to see places to go :)

01[12:06] {Threei}  FFG finally arrived

[12:06] {robbers} cya Will.

01[12:06] {Threei}  1:3, out

01[12:06] {Threei}  have a good one will

[12:06] {scottie} will

[12:06] {dptl} TTFN Will :)

01[12:06] {Threei}  see you in a week and half

[12:06] {Will49} tks guys...good morning!

[12:07] {Will49} Have a great vacation Vad

01[12:07] {Threei}  I will, I promise

[12:08] {robbers} Vad, I missed the days of your vacation, can you repeat please.

01[12:09] {Threei}  I'll be back Dec 26

[12:09] {robbers} Last day here in the room is...?

01[12:09] {Threei}  unless wife pushes me over into flowing lava

[12:09] {dptl} cog .10 short?

01[12:09] {Threei}  today

01[12:10] {Threei}  not sure about COG

[12:10] {dptl} k

01[12:10] {Threei}  something doesn't look convincing

[12:12] {thomcbell} qcom hah

[12:12] {dptl} vlo?

[12:12] {dptl} .10 long?

01[12:13] {Threei}  no

01[12:13] {Threei}  too narrow

[12:13] {dino} vad, in case i forget, have a great trip.

[12:13] {dptl} k

01[12:14] {Threei}  ty dino... considering the locale, hard not to :)

01[12:14] {Threei}  I even don't mind terribly that perspective of being pushed into lava

[12:14] {thomcbell} lvs i am going to tighten stop to 46.83 on 46.88 long 

[12:14] {dino} well, if one must die, why not in a volcano

01[12:14] {Threei}  right

01[12:15] {Threei}  exotic and memorable

[12:15] {dino} and maybe it will please the island gods

01[12:16] {Threei}  can I change my VLO answer?

[12:16] {dptl} :) 

[12:19] {thomcbell} out lvs

[12:20] {thomcbell} aig looks like 34.19 break short if holding 34.25 

[12:24] {dptl} oh...good   sun is shinning in Vancouver,,finaly,rain rain everyday i thought i wont see sun till next year

[12:29] {thomcbell} damn vad that qcom was a goodie - 60 break long 

01[12:30] {Threei}  yeah

[12:30] {thomcbell} Had to play by the book

[12:41] {cipher} qcom l.40

[12:44] {cipher} out .50

[12:47] {nemo} 27 reported dead in Ct.

[12:47] {dino} qcom wants 61

01[12:47] {Threei}  jeez

[12:47] {dino} my stop is .24

[12:48] {dptl} what heppend?

[12:48] {nemo} shooter in an elementary school

[12:50] {dptl} what  the heck is going on with this world

[12:50] {nemo} actually nasty stuff happens everyday in other parts of the world, we just don't hear about it....supposedly father of one of the students went to kill the principal, and kept going.

[12:51] {nemo} kindergarten class

[12:52] {dptl} where is it?

[12:52] {nemo} Connecticut

[12:57] {cipher} ssys l.29

[12:59] {dptl} i got to go see ya monday all..........Vad have a wonderful trip, and happy holydays 

01[12:59] {Threei}  take care dp, thank you

[13:00] {dptl} make sure you make nicce pictures of the end of the world in there :)

[13:01] {dptl} and email it rightaway so i'll have time to see....lol

[13:02] {thomcbell} great call on qcom going to 61

01[13:02] {Threei}  meh... eiother I survive it and return to tell the tale, or I'll take it all in myself :)

[13:02] {dptl} :)

[13:02] {cipher} thrx l .05

[13:06] {dino} qcom to .75

[13:06] {cipher} out ssys .30 +.01

[13:10] {dino} out qcom +1.00

01[13:10] {Threei}  wtg

[13:11] {dino} ty

[13:12] {robbers} nice, Dono, congrats.

[13:12] {robbers} Dino too.

[13:13] {cipher} ssys l .08

[13:13] {dino} ty

01[13:19] {Threei}  New High: 73% Say Government Should Cut Spending to Help Economy.

01[13:20] {Threei}  I don't get it

01[13:20] {Threei}  poll after poll shows public wanst spedning cut muchy more than taxes raised

01[13:20] {Threei}  yet they vote fot casndidate who is on the opposite side

01[13:24] {Threei}  is election is pure popularity contest, then yes, I understand

[13:28] {cipher} out ssys .00 -.08

[13:31] {scottie} CNH l .50 ?

01[13:32] {Threei}  a bit too thin...

[13:32] {dino} aria drop

[13:32] {scottie} tks

01[13:32] {Threei}  not dino-thin but...

[13:33] {scottie} :)

[13:35] {dino} aria sm l .95

[13:35] {cipher} ARIA L .59

[13:36] {dino} you dog

[13:37] {cipher} out 1/2 .99

[13:38] {dino} gj

[13:38] {robbers} wtg

[13:38] {cipher} out in full .19 yhx dino

[13:38] {cipher} thx

[13:38] {cipher} too soon

01[13:40] {Threei}  nice ctach

[13:40] {cipher} s aria .28

01[13:40] {Threei}  my dyslexia obviously increased greatly

[13:40] {cipher} COV .16

01[13:40] {Threei}  I really need that vacation

[13:46] {cipher} ONXX L .20

[13:51] {dino} out aria .00, +1.05

[13:52] {dino} too soon

[13:55] {dino} tough crowd

[13:55] {cipher} wtg

[13:55] {dino} thx buddy

01[13:56] {Threei}  we are just too jealous

[13:56] {cipher} out onxx .35 +.15

[13:56] {nemo} aria going for vwap

[13:56] {scottie} as usual dino, you leave me speechless

[14:09] {thomcbell} fcx trades great 

01[14:09] {Threei} Short Setup: FB  .20 break

01[14:09] {Threei}  If holds  .30 

[14:16] {cipher} onxx l.05

[14:17] {scottie} ENDP s .80 ?

01[14:18] {Threei}  yup

[14:21] {nemo} GS at the top of the range, they stay there, big gap up on Monday...must be news on the FC

[14:24] {robbers} Gotta go.  Good weekend to everyone and Vad, hope you have an amazing trip.

[14:24] {scottie} robbers

[14:25] {robbers} My only advice, Vad, don't stand on the edge of any volcanos.

01[14:25] {Threei}  thank robbers, take care :)

01[14:25] {Threei}  well

01[14:25] {Threei}  we'll see

[14:25] {dino} cya

[14:25] {robbers} Have a great time.

01[14:25] {Threei}  I will :)

01[14:31] {Threei}  FFG is on final approach

[14:33] {scottie} in endp .79

[14:34] {cipher} TFM L .14

[14:36] {cipher} OUT .34 +.20

01[14:36] {Threei}  nice

01[14:36] {Threei}  didn't take long either

[14:36] {cipher} was easy to get

[14:36] {cipher} 1 penny spread

[14:38] {cipher} s tfm.56

[14:40] {scottie} half out endp

01[14:40] {Threei}  ENDP 1:1

[14:42] {cipher} cov tfm .33 +.23

[14:42] {nemo} wow aria

[14:43] {scottie} half out fb

01[14:44] {Threei}  life is slow and narrow but good

[14:45] {scottie} endp stop to .77

01[14:46] {Threei}  FB 1:1

[14:46] {cipher} tfm l .25

[14:49] {dino} aria back to lod

[14:51] {scottie} 1/4 more out endp

01[14:52] {Threei}  ENDP 1:2

01[14:52] {Threei}  scottie... amazing improvement inpatience department

01[14:53] {Threei}  quite recently you couldn't make yourself hold for 1:2

[14:54] {scottie} slowly taking care of that fear problem

[14:54] {scottie} now, if I could figure out that profit thing :)

01[15:00] {Threei}  it follows resolution of all the problems

[15:01] {scottie} hope so

[15:01] {cipher} ibm l .42

[15:05] {cipher} out .55

[15:06] {cipher} tfm stopped .17 -.08

[15:07] {dino} aria sm l  .50 break

[15:08] {scottie} endp stop to .66

[15:10] {cipher} tfm l .25

[15:11] {cipher} ibm l .31

[15:15] {cipher} out ibm .50 

01[15:15] {Threei}  cool

01[15:15] {Threei}  END is coming on 1:3

[15:16] {cipher} out tfm .58 +.33

01[15:17] {Threei}  cooler yet

01[15:18] {Threei}  FB 1:2

[15:18] {thomcbell} excellent Vad

01[15:18] {Threei}  what's woth trade after trade working like charm

[15:19] {thomcbell} that is some round trip on qcom

[15:19] {thomcbell} shocking 

01[15:21] {Threei}  Just 37% Now Call Themselves Fiscal Conservatives

01[15:21] {Threei}  that volcano starts looking more and more attractive option

[15:21] {dino} wow qcom lod

[15:22] {dino} opps just saw your post tbell

[15:22] {thomcbell} aapl chart looks like it is going to 410

[15:22] {scottie} endp stop to .61

[15:22] {cipher} tfm l .54

[15:23] {cipher} out 1/2 .76

[15:26] {cipher} out in full .67

[15:35] {dino} gj

[15:35] {scottie} fb +.29 tks Vad

01[15:35] {Threei}  Fb, OUT IN FULL

01[15:36] {Threei}  nice and clean 1:3 er

[15:36] {thomcbell} delicious trade

[15:36] {scottie} great trade :)

01[15:36] {Threei}  probably has more but

01[15:36] {Threei}  nice way to finish the pre-vacation trading

[15:38] {thomcbell} long setup aig 40 break if holding 33.90

[15:38] {scottie} Have a great vacation Vad, and don't forget your camera :)

[15:39] {thomcbell} the influence of aapl on the market is astounding 

01[15:40] {Threei}  camera will get on that plane before I do... it's already sitting at the door saying "well???"

[15:40] {scottie} lol

[15:42] {scottie} endp out in full

[15:44] {scottie} ok guys, have a great weekend

01[15:44] {Threei}  ok guys, thank you all, have a great time, merry Christmas

01[15:45] {Threei}  room of course is open as alway

01[15:45] {Threei}  just without me :)

01[15:45] {Threei}  I'll see you all after Christmas

[15:46] {thomcbell} wow u are going away that long Vad?

[15:46] {thomcbell} good for you

01[15:46] {Threei}  how is it long... a week and half :)

[15:46] {thomcbell} oh i thought u meant after new years 

01[15:46] {Threei}  Dec 26 I should be here

[15:47] {dino} have great trip and xmas vad

01[15:47] {Threei}  thank you!

[15:47] {thomcbell} yes have a great trip 

01[15:47] {Threei}  I will, take care all

01[15:48] {Threei}  keep nemo in check

01[15:48] {Threei}  and dp sober

[15:48] {scottie} as usual, nemo will keep saying us how much he loves you

01[15:49] {Threei}  hahaha

[15:49] {thomcbell} wow qcom

01[15:49] {Threei}  ugh, FB 1:4

Dec 13 2012

Nicely profitable day again, with a few good ones coming later in the day. Also we got a new kind of setup - OFFFG trade

Session Time: Thu Dec 13 00:00:00 2012
[09:05] {scottie} good
[09:06] {scottie} morning
01[09:06] {Threei}  hi
01[09:06] {Threei}  scottie
[09:06] {scottie} lol
01[09:06] {Threei}  :)
01[09:21] {Threei}  gold takedown
[09:21] {Beau} good morning
01[09:22] {Threei}  beau :)
[09:22] {Will49} Good day gents
01[09:22] {Threei}  will :)
[09:23] {dino} gm
01[09:23] {Threei}  dino :)
01[09:23] {Threei}  are you aware that it was accepted scientific thought in the early 1800's that if anyone was to be accelerated faster than 35 miles per hour the air would be sucked out of their lungs?
[09:24] {dino} i was not
[09:25] {robbers} That would really suck.
01[09:25] {Threei}  sometimes I think I regret they were wrong
01[09:25] {Threei}  maybe we would be better off moving slowly :)
01[09:26] {Threei}  no job outsourcing to china would ever happen
[09:26] {cipher} gm
01[09:26] {Threei}  cipher :)
[09:26] {ese} gm
01[09:26] {Threei}  in fact, we might still be guessing whether China exists
01[09:26] {Threei}  ese :)
[09:26] {ese} mornin vad
[09:27] {robbers} Ese, everything going ok with you?
01[09:27] {Threei}  no cheap iphones, sure... but I don't really use even my very dumb cell phone
[09:28] {robbers} And no speeding tickets.
01[09:28] {Threei}  unless they'd install 20 mph speed limit...
[09:28] {robbers} Yeah, gotta generate revenue somehow.
01[09:29] {Threei}  so, GLD and SLW look to be short targets
01[09:29] {Threei}  will skip first minutues
01[09:30] {Threei}  FB looks short candidate on .55 break
01[09:30] {Threei} Short Setup: FB  .55 break hal
01[09:30] {Threei}  If holds  .65
01[09:31] {Threei}  1:1
[09:33] {thomcbell} long setup aig 34.79 break if holding 34.72
01[09:34] {Threei} Short Setup: FCX  .35 break hl
01[09:34] {Threei}  If holds  .45
01[09:34] {Threei} Short Setup: SLW  .20 break hl
[09:35] {thomcbell} i think aig still valid
[09:35] {thomcbell} im in
01[09:35] {Threei}  no go FCX
[09:35] {thomcbell} lord god bounce FB
01[09:35] {Threei}  Invalidated  SLW
[09:36] {thomcbell} short setup Rimm 13.62 break if holding 13.72
[09:36] {thomcbell} missed it
[09:36] {thomcbell} out aig
[09:37] {thomcbell} -.10
01[09:40] {Threei} Short Setup: GLD  .95 break
01[09:40] {Threei}  If holds  .05
[09:41] {cipher} cat s .21
[09:41] {cipher} cov .01 +.20
01[09:42] {Threei}  nice swan dive
01[09:42] {Threei}  let's trail GLD to .01
01[09:43] {Threei}  out
[09:43] {dino} met hl s .75
01[09:43] {Threei}  missed beautiful kangaroo tail reversal on FCX, .60 short... ugh
[09:44] {nemo} looks like indexes want to fill gaps
01[09:46] {Threei} Long Setup:  AIG  .65 break
01[09:46] {Threei}  If holds  .55
[09:47] {cipher} mcrs l .78
[09:48] {cipher} stopped .72 -.06
01[09:50] {Threei}  AIG target 1:2
01[09:51] {Threei}  1:1
[09:51] {thomcbell} i think it has more in it
[09:52] {cipher} ulta l .23
[09:52] {thomcbell} pivot 35.06
[09:53] {dino} met stop -.16
[09:54] {ese} L auy .58
[09:56] {cipher} allt l .50
[09:57] {ese} rats i'm down 3 dollars.......bad call
01[09:58] {Threei}  losing touch, eh?? :)
[09:58] {ese} ya
06[09:58] * Threei kicks AIG in the rear
[10:00] {dino} met last try, hl s .99
[10:01] {dino} bstop .10
[10:01] {dptl} good morning
01[10:01] {Threei}  dp :)
[10:01] {dino} gm
01[10:02] {Threei}  1:2, my a$$ is out
[10:02] {dino} avd hl l .70
[10:02] {scottie} +.19 tks Vad
01[10:02] {Threei}  :)
[10:02] {thomcbell} nice VAD
[10:02] {Will49} tks Vad
[10:02] {ese} deeeeeeeeeeeeenoooooooooooooo
[10:02] {dino} rh odd
01[10:02] {Threei}  dp, this is for you, from nemo: http://goo.gl/b10mL
[10:03] {dino} lol ese
[10:03] {ese} talk about firing from the hips.........is on the board 2 seconds and long avd
[10:03] {dptl} lol
[10:03] {dptl} thats right lol
[10:03] {ese} ddddddddddddddddddppppppppppppppppppp!!!!!!!!!!!!1 buddy your back
[10:04] {dptl} Ese.....:)
[10:06] {ese} it's great your back on the board because our countdown starts January 1 dp
[10:06] {dino} met stop -.10
01[10:07] {Threei}  countdown?
[10:07] {ese} countdown to shiskabob barbecue at vads in july
[10:08] {dptl} oh ye :)
[10:08] {Will49} going to bring a designated driver this time
[10:08] {ese} lol
[10:08] {Will49} if I'm invited
[10:08] {dptl} cog .60 short?
[10:08] {ese} if i recall right..........after you left the last time will.......vad had no vodka left
[10:08] {Will49} :)
01[10:09] {Threei}  COG yes but late
[10:09] {Will49} drinking out of an AK47 was a new experience
[10:09] {ese} lol......i'll say
01[10:09] {Threei}  hehe
[10:09] {ese} thats legend now............everyone on the board needs to see it to believe it
01[10:10] {Threei}  when you are ready for the vodka with chili pepper, I'll uncork that grenade
[10:10] {Will49} can hardly wait
01[10:10] {Threei}  what do you know, tbell was right on AIG
01[10:10] {Threei}  1:3
[10:10] {thomcbell} aig 1:3 :)
[10:10] {thomcbell} im still there
[10:10] {Will49} and still right
[10:11] {ese} nice one thom.........just looked at that
[10:11] {scottie} UAL l .20 ?
01[10:11] {Threei}  yup
[10:12] {robbers} out aig, thanks man.
01[10:12] {Threei}  welcome, although you probably mean tbell, not me
01[10:12] {Threei}  but I'll take the credit whether I am given it or not
[10:13] {dptl} mcp .60 short?
[10:13] {scottie} in .22
01[10:13] {Threei}  not sure on MCP
[10:14] {thomcbell} out aig 35.02
01[10:15] {Threei}  wtg
[10:15] {Will49} good job tbell
01[10:15] {Threei}  UAL beautiful
[10:16] {scottie} half out
[10:17] {scottie} 1/4 more out
[10:17] {ese} things looking up.......only down $1.98 auy
[10:17] {ese} opps.......up 4 bucks
01[10:17] {Threei}  lol
[10:17] {ese} nice
[10:17] {Will49} tks scottie, nice catch
01[10:18] {Threei}  very
01[10:18] {Threei}  where is patel... such example of consolidation break
[10:19] {scottie} out +.28
[10:19] {thomcbell} rimm was a good one on that break of 14
[10:20] {scottie} yw will
[10:21] {scottie} ual 1:5
[10:23] {thomcbell} thanks for the help on that aig Vad - i did a much bigger position when i saw you liked the same setup
01[10:23] {Threei}  sure thing
[10:24] {cipher} out ulta .34 +.11
[10:25] {dptl} anf 47 long?
01[10:25] {Threei}  yes
01[10:25] {Threei}  hl
[10:26] {ese} L auy avg .60
[10:27] {ese} have hit the big time today am up .34 cents
[10:27] {ese} am considering taking my profit
[10:28] {dino} esio hl l .60
[10:31] {dptl} half out anf
[10:32] {cipher} lnco l .14
[10:32] {dptl} out anf
[10:33] {scottie} infa l .70 ?
01[10:34] {Threei}  no read
[10:34] {scottie} tks
[10:34] {dptl} cog .60 sh again?
[10:35] {scottie} double tks
[10:35] {ese} gotta go all...cya tomorrow......am up a $1.06cents in profit now...........whoa boy........it's hard to controll myself.....later eh
01[10:35] {Threei}  take care ese :)
[10:35] {scottie} ese
[10:35] {ese} scottie vad
01[10:36] {Threei}  COG yes
01[10:36] {Threei}  still hl
[10:36] {dino} cya
01[10:36] {Threei}  spread is jumpy
[10:36] {thomcbell} short setup rimm 13.88 break if holding 13.98
[10:37] {dptl} in cog .70 stop
[10:39] {cipher} out lnco .28 +.14
[10:39] {thomcbell} rimm 1:1
01[10:40] {Threei}  nice
01[10:40] {Threei}  idea of shorting RIMM resonates with me
01[10:40] {Threei}  flying pigs should remember of gravity
[10:44] {scottie} bby l .45 ?
[10:44] {thomcbell} flat on remaining rimm - will look for another setup
01[10:45] {Threei}  I think so BBY
01[10:47] {Threei}  what the
[10:48] {Will49} ?
[10:48] {scottie} bad execution, out at .96 -.50 :(
01[10:48] {Threei}  wow!
01[10:48] {Threei}  how can it be??
[10:49] {scottie} blew my stop, and by the time I reacted it was already below 14
01[10:49] {Threei}  BBY Hearing M&A blog speculating the deal financing has not been finalized -
01[10:49] {Threei}  news killed it
01[10:50] {Threei}  sorry scottie... but... this is illustration to why we don't second-guess stops
01[10:50] {Threei}  just execute them
[10:50] {dino} shit happens scott. don't sweat it
[10:51] {Will49} I got reamed too scottie, just dumb bad luck
[10:51] {dino} once taken they should not bother you
[10:51] {Will49} I was like a dear in the headlights when it screamed past me stop
[10:51] {Will49} my stop
[10:52] {scottie} Had manual stop at .30 and ready to trigger at .34, lokked at something else for a few seconds, and then ...
[10:52] {scottie} looked
[10:52] {thomcbell} AIG perfect VAD- all the way back to entry
01[10:53] {Threei}  watching
[10:55] {dino} esio won't move, stop to .60
[11:02] {thomcbell} FB just incredible
[11:02] {cc_8} Stocks Hitting 52-Week HighsPosted on: Thursday, December 13, 2012 - 10:10amClearwire (NASDAQ: CLWR) shares gained 11.45% to create a new 52-week high of $3.07. Sprint Nextel (NYSE: S) is offering $2.90 per share to acquire the rest of Clearwire. .
[11:03] {cc_8} Stocks Hitting 52-Week LowsPosted on: Thursday, December 13, 2012 - 10:17amAtlantic Power (NYSE: AT) shares lost 2.24% to create a new 52-week low of $10.93. Atlantic Power's trailing-twelve-month ROE is -10.22%. .
[11:07] {dptl} hmm...cog just wont give up
01[11:10] {Threei} Short Setup: FCX  .60 break
01[11:10] {Threei}  If holds  .65
01[11:15] {Threei}  trail it to .66 dp
[11:15] {dptl} ok
01[11:16] {Threei}  1:1
01[11:18] {Threei}  finally COG
01[11:18] {Threei}  took its sweet time
[11:18] {dptl} whee out some
[11:20] {cipher} BRCM L .60
[11:21] {cipher} out .67
[11:22] {nemo} cvs wants to give it all back
[11:23] {dptl} if it takes .40 it may go all the way to 47 cog
[11:24] {dino} cost gap fill
[11:25] {dino} hl l .76
01[11:26] {Threei}  COG 1:2 baby
[11:28] {dino} no go cost stop -.25
[11:29] {dptl} all out cog
01[11:30] {Threei}  (US) House Speaker Boehner (R-OH): Reiterates that President Obama is not serious about cutting spending, offered plans that are anything but balanced- White House appears to be ready "slow walk" us up to the edge of the fiscal cliff. President Obama's plan does not balance taxes increases and spending cuts. - Reiterates spending is the problem.
01[11:31] {Threei}  Reiterates that its now up to Obama to propose specific spending cuts. - Raising tax rates will hurt small businesses.
[11:37] {dptl} jcp .20 long ?
01[11:37] {Threei}  I think so
[11:42] {dptl} something is not right...i'll leave it
[11:45] {dino} tva hl l .00
[11:45] {dino} cost hl l .75 nreak
01[11:45] {Threei}  - US equities briefly perked up in midmorning trading after a flattish open, although the S&P500 and DJIA are back to unchanged as of writing. Some commentators expressed discomfort with markets ending the day yesterday unchanged after the FOMC action, although others pointed out that very little has changed in the Fed stance.
01[11:45] {Threei}  great job to be a commentator...
01[11:46] {Threei}  where do I sign up
[11:46] {Will49} something like a consultant
01[11:46] {Threei}  I will express concerns, discomforts and point thisng out all day long
[11:46] {Will49} consultant looks at YOUR watch, tells you what time it is, then bills you
01[11:47] {Threei}  I like the idea
01[11:48] {Threei}  and if I can't tell the time, I can always ask nemo, and get his always reliable answer "it's drink'o'clock"
[11:48] {Will49} Vad, you could be a consultant teaching people how to become commentators
01[11:48] {Threei}  better yet
01[11:49] {Threei}  all you need is:
01[11:49] {Threei}  1. look at the headline
01[11:49] {Threei}  2. look at the price change
[11:49] {thomcbell} short setup rimm 13.94 break if holding 14
01[11:49] {Threei}  3. insert "because" if they converge and "despite" if they diverge
[11:50] {Will49} see...you've got your system designed already
01[11:50] {Threei}  long ago
[11:50] {Will49} I'll send you my bill:)
01[11:50] {Threei}  "ABCD advanced in price thanks to a great earnings report"
[11:50] {Will49} you've got it!
01[11:51] {Threei}  "ABCD price plunged despite a great earnings report"
01[11:51] {Threei}  there
[11:51] {dptl} man ..jcp worked...something stop me from taking it
[11:51] {Will49} perfecto
[11:51] {Will49} fear dp, fear
01[11:51] {Threei}  was a good setup, dp... don't know what you imagined there
[11:52] {dptl} don't know..something...oh well
[11:53] {dino} i hear ya dp, i'm missing them too, just feels off
[11:54] {dino} gco hl l .35
[11:55] {dptl} hes 52 long ?
[11:57] {thomcbell} rimm invalidated
01[11:57] {Threei}  I think so
[11:59] {dptl} in hes .90 stop
[12:08] {dptl} stopped
[12:18] {dptl} met .50short?
01[12:19] {Threei}  .55 break looked better to me
01[12:20] {Threei}  *(UK) S&P REVISES AAA UK SOVERIGN OUTLOOK TO NEGATIVE FROM STABLE
[12:20] {dptl} ahh..took .50 break
01[12:28] {Threei} Short Setup: SLW  .80 break
01[12:28] {Threei}  If holds  .85
01[12:36] {Threei}  1:1 MET
[12:37] {dptl} half out
[12:45] {dptl} out
01[12:46] {Threei}  good one
[12:47] {dptl} thank you sir....late entry but worked see that .55 would be more safe
[12:48] {thomcbell} rimm finally giving some back
[12:49] {dptl} would you still had stop at .60 if you'd get .55 entry Vad?
01[12:49] {Threei}  yup
[12:50] {dptl} ye i see...
[12:52] {thomcbell} aig 34.39 break if holding 34.35
[12:57] {Will49} can we short aig below .35?
01[12:58] {Threei}  better try to get it on bounce
[12:58] {Will49} ok
01[12:58] {Threei}  above ,35, with stop above .40
[12:58] {thomcbell} i got stopped ont he long idea
01[13:04] {Threei}  wow FB
01[13:04] {Threei}  why didn't we short .50 break
01[13:04] {Threei}  clean setup
01[13:04] {Threei}  ugh
[13:04] {thomcbell} that is looking fat fingerish a bit
[13:04] {dptl} wow...
01[13:05] {Threei}  (US) Senate Majority Leader Reid (D-NV): House Speaker Boehner is slowing down the negotiations, tax cuts are being held hostage to never-ending press conferences- Calls on Boehner once again to move Senate legislation to extend middle class tax cuts through the House immediately
[13:07] {dptl} sounds like BOHICA
[13:08] {Will49} hey hey hey
[13:08] {dptl} :)
01[13:08] {Threei}  remember our observation two days ago about rug pulls on FB?
01[13:09] {Threei}  too bad I forgot it... this was exactly the case
01[13:09] {Threei}  longish consolidation looking like two-sided, resolves into sudden selloff on it, time and again
01[13:19] {Threei}  (US) White House: Tax cuts for the wealthy are not going to happen
01[13:19] {Threei}  reminds me an ancient soviet joke...
01[13:20] {Threei}  revolutionary circa 1917, talking to a granddaughter of a revolutionary of mid 19 century: - we don't want anyone to be rich!
01[13:21] {Threei}  she: hmmm... my grandfather didn't want anyone to be poor...
01[13:23] {Threei} Short Setup: GLD  .15 break
01[13:23] {Threei}  If holds  .20
[13:27] {dino} i don't know when being successful and rich because such a bad thing. it is what i've always wanted and what built this country
[13:27] {thomcbell} good entry
01[13:28] {Threei}  well, new angle is: if you are successful, it's becasuse you worked the system
[13:28] {thomcbell} wrong box
01[13:28] {Threei}  because "there are plenty of smart and hardworking people"
01[13:29] {Threei}  and "nobody got rich in this country on their own"
[13:29] {dino} its a bunch of crap
01[13:29] {Threei}  so, congratulations to you but now it's time to share
01[13:29] {Threei}  with honest, smart and hardworking people
01[13:30] {Threei}  like those kind and gentle union folks from Michigan
01[13:30] {Threei}  who delicately explained a correspondent their position
01[13:31] {Threei}  in the process of which face of said correspondent hit their fists hard
01[13:34] {Threei} Short Setup: FB  .10 break
[13:36] {scottie} gotta go, see you all tomorrow
01[13:36] {Threei}  take care scottie
[13:48] {thomcbell} trade what you see Vad - look how well this lvs 45.55 break worked during all this selling
[13:49] {thomcbell} i ignored the setup
[13:49] {thomcbell} perfect
01[13:49] {Threei}  yeah
01[13:50] {Threei} Short Setup: FB  .30 break
01[13:50] {Threei}  If holds  .40
[13:51] {dptl} got .30
01[13:51] {Threei}  now we need that finger guy to get back at his station
01[13:52] {Threei}  and plunge FB to 28
[13:52] {dptl} 28?
01[13:52] {Threei}  fat finger guy
01[13:52] {Threei}  why not?
[13:53] {dptl} would be nice :)
01[13:53] {Threei}  he did it once
[13:56] {thomcbell} lol
[13:58] {Will49} come on...baby needs a new pair of shoes
01[13:58] {Threei}  and a bottle of vodka
[13:58] {Will49} :)
01[13:59] {Threei}  to wash down that steak
01[13:59] {Threei}  which baby needs those shoes for, to walk to the store
[13:59] {Will49} oh yeah
01[14:00] {Threei}  gosh, that's one expensive baby, lol
[14:00] {Will49} i accepted the risk:)
[14:02] {dino} sheesh, bernstein raises cost to 98 from 95. it trades at 98. real value added stuff here
01[14:03] {Threei}  lol
01[14:05] {Threei}  FFG is back
[14:06] {thomcbell} what is ffg?
01[14:06] {Threei}  fat finger guy :)
[14:06] {Will49} hahaha
01[14:07] {Threei}  (US) House Speaker Boehner (R-OH) intends to go home to Ohio but highlights he will be available should President Obama wish to resume talks
[14:07] {Will49} can't miss their holidays
[14:07] {dino} but you know what will? obummer is not budging, so f him
01[14:08] {Threei}  I'll miss this stuff next week
[14:08] {Will49} right on dino!
01[14:08] {Threei}  it's like daily dose
01[14:09] {Threei}  I agree... it's a lose-lose proposition for republicans, so might just as well stick to your principles
[14:10] {dino} you will never get spending cuts later
01[14:10] {Threei}  nope
[14:10] {dino} they have no intention of cutting entitlements and other spending
01[14:10] {Threei}  nope
[14:10] {Will49} FFG has got a stutter
01[14:11] {Threei}  1:1
[14:11] {dptl} out half ty
01[14:11] {Threei}  yw
01[14:11] {Threei}  here he is, will
01[14:11] {Threei}  1:2
[14:12] {dptl} out some more
01[14:12] {Threei}  OFFFG
01[14:12] {Threei}  old faithful fat finger guy
[14:12] {Will49} lol
[14:12] {dptl} lol
01[14:13] {Threei}  and here is my 28
01[14:13] {Threei}  out
[14:13] {dptl} out....
01[14:13] {Threei}  AWOFFFG
01[14:13] {Threei}  always welcome old faithful fat finger guy
[14:13] {Will49} yasssereee!
[14:13] {Will49} Bob
[14:13] {robbers} nice call on fb, love those fat fingers.
[14:14] {dptl} ty Vad
01[14:14] {Threei}  welcome guys
[14:17] {robbers} We support finger obesity.
01[14:18] {Threei}  lol
[14:19] {thomcbell} good stuff Vad
01[14:20] {Threei}  :)
01[14:21] {Threei}  http://goo.gl/tsa03
[14:24] {Will49} classic
[14:29] {dptl} rig long?
[14:29] {dptl} .56?
01[14:30] {Threei}  hmmm
01[14:30] {Threei}  not sure
01[14:30] {Threei}  worth a try I guess, stop is vrey small
[14:30] {dptl} undre.50
[14:33] {dptl} in .57
01[14:37] {Threei}  works
[14:37] {dptl} out some
[14:40] {thomcbell} short setup fcx 32.42 break if holding 32.50
01[14:41] {Threei}  out more?
[14:42] {dptl} no didnot have mach so offering last at .83
[14:42] {dptl} with stop under .70
[14:42] {dptl} trailinng
[14:47] {thomcbell} lvs very impressive
[14:55] {dptl} ok out
[14:55] {dptl} ty
01[14:55] {Threei}  nice
[14:56] {Will49} all right dp!
[14:56] {dptl} thanx just got half dont want to risk much after decent day
[15:01] {dino} avd sm l .99 stop lod
[15:03] {thomcbell} looks like the moment of truth on that daily chart
01[15:11] {Threei} Short Setup: GLD  .10 break
01[15:11] {Threei}  If holds  .20
[15:16] {dptl} what days market closed on coming hollydays ? 24 25 and 26?
[15:17] {nemo} 25th
[15:17] {nemo} 1st
[15:17] {dptl} full day on 24?
[15:17] {nemo} then again it all ends the 21st
[15:17] {nemo} likely half on 24th
[15:17] {dptl} ty
[15:18] {dptl} oh ye its the end of the world on 21
01[15:20] {Threei}  I hope so
01[15:20] {Threei}  I adjusted my spending habits to that date, per nemo advice
[15:21] {dptl} if thats the case Hawaii is the plese to be for the show with all volcanos :)
[15:21] {dptl} place
[15:21] {Will49} hope you have a tight stop in case we're still here on 22nd Vad
[15:22] {dptl} lol
01[15:22] {Threei}  that';s the plan dp
01[15:22] {Threei}  no will... no plan B, I am all in
01[15:22] {Threei}  there is no try, you know... do or do not :)
[15:24] {dptl} cog
[15:24] {thomcbell} im going to wash this fcx entry
[15:25] {thomcbell} at 432.44 for a small loss
[15:25] {dptl} oops to late
01[15:25] {Threei}  Invalidated  GLD
[15:25] {nemo} mmmhhhh...loooking like more down tomorrow with probable short covering in the afternoon
[15:27] {Will49} why do you sy that nemo?
[15:27] {Will49} say
[15:31] {nemo} ok short covering now
[15:32] {thomcbell} bizzare little range here on 1 min on aig
[15:33] {thomcbell} looks like 34.20 break long
[15:33] {dptl} look at that cog...missed by few seconds
[15:34] {dptl} nice caputulation set up
01[15:35] {Threei}  not sure what that was about
01[15:36] {Threei}  (US) Speaker Boehner to meet with President later today
[15:36] {dino} boehner is going to bend him over
[15:36] {Will49} BOHICA
[15:36] {dino} lol
01[15:37] {Threei}  I don't see any leverage he has
[15:37] {dptl} yep that thing again
[15:37] {Will49} we didn't use the term while you were away dp
[15:37] {Will49} out of respect
[15:38] {dptl} :)
01[15:38] {Threei}  we said instead: that word of 6 capital letter that we don't use while dp is away
[15:38] {Will49} :)
01[15:38] {Threei}  made for a long typing... but respect is not cheap
01[15:39] {Threei}  I cheated and made a script for it
[15:39] {Will49} is this wildness all short covering?
[15:39] {Will49} gld and fcx anyway
01[15:39] {Threei}  IMO, hope that since they agreed to meet, something is in works
[15:40] {Will49} could be
[15:40] {dino} eggnog party
[15:40] {dptl} 21st
[15:40] {Will49} haha
[15:40] {dptl} they know something
[15:40] {thomcbell} aig 1:1
[15:42] {Will49} Fb seems to be the biggee that is defying the ramp
01[15:42] {Threei}  I noticed that too
01[15:43] {Threei}  it's still green for the day,
[15:43] {thomcbell} stop on aig balance to 34.25
01[15:43] {Threei}  but "internals" so to speak start looking suspiciously
[15:43] {dino} shs drop
01[15:44] {Threei}  if they again come out of the meeting with nothing to show, we might get a looot of selling tomorrow
[15:44] {dino} out cost +.24
[15:45] {thomcbell} out aig
[15:47] {dptl} good night all see ya tomorrow
[15:48] {Will49} TTFN dp
01[15:51] {Threei}  OK guys, thank you all
01[15:51] {Threei}  have a good evening, see you tomorrow
[15:51] {Will49} see ya tomorrow

Dec 12 2012

Nice day, especially for a FOMC day. Even got a nice Catch of the day (yes, short FB again)

Session Time: Wed Dec 12 00:00:00 2012
[08:57] >patel> Good Morning!!!
01[08:57] >Threei>  morning patel
[08:58] >cipher> gm
01[08:59] >Threei>  cipher :)
[09:00] >dino> gm
01[09:00] >Threei>  dino :)
[09:14] >Beau> good morning
01[09:14] >Threei>  beau :)
[09:15] >thomcbell> Vad did u catch that 34.92 long break in AIG near the close?
[09:15] >thomcbell> i knew i was going to miss a good setup that last 1/2 hr
[09:16] >scottie> good morning
01[09:17] >Threei>  tbell, scottie :)
01[09:17] >Threei>  no tbell
[09:18] >thomcbell> pivot so far away on AIG
[09:18] >thomcbell> not interested in buying here
01[09:18] >Threei>  FOMC day
01[09:18] >Threei>  things will be a bit different
[09:19] >thomcbell> FB - i will be watching for an opening range breakout
[09:20] >Will49> Good morning
[09:20] >thomcbell> set up in multiple time frames including a 3 weeks tight pattern in process on the weekly
01[09:21] >Threei>  will :)
[09:22] >ese> gm
01[09:22] >Threei>  ese :)
[09:22] >ese> morning
[09:22] >ese>  vad
[09:23] >ese> 7 shows so far this december of various kinds and i haven't seen you out at any of them vad.............hmmmmmmmm
01[09:24] >Threei>  sorry... with vacation coming, not much time on hand
[09:24] >ese> 2 this weekend........one next and i'm outta the woods..............i will have escaped another Christmas performance barage alive
[09:28] >ese> where you going on vacation.......
01[09:28] >Threei>  hawaii
[09:28] >ese> nice
01[09:29] >Threei>  that's what my camera said when I told it
[09:29] >ese> i hear all that nice weather is bad for you
[09:29] >ese> just a rumor of course
01[09:29] >Threei>  yes but I am willing to suffer
[09:30] >ese> someone has do it
01[09:32] >Threei> Long Setup:  AIG  .70 break
01[09:32] >Threei>  If holds  .60
[09:33] >patel> dang 2 quick...
01[09:33] >Threei>  1L1
[09:33] >Will49> missed
[09:33] >dino> incy hl l .50
01[09:33] >Threei>  don't buy pullback yet
01[09:34] >Threei> Long Setup:  FB  .05 break hl
01[09:34] >Threei>  If holds  .95
01[09:35] >Threei> Long Setup:  AIG  .55 break
01[09:35] >Threei>  If holds  .50
01[09:35] >Threei>  Invalidated
01[09:36] >Threei> Long Setup:  AIG  .50 break
01[09:36] >Threei>  If holds  .40
[09:36] >ese> L cie .60
[09:37] >ese> 1/2
[09:37] >dino> out incy .74, +.24
01[09:37] >Threei>  no go AIG
[09:38] >thomcbell> lvs long setup 45.07 break oif holding 45
01[09:38] >Threei>  SPY breaks down
[09:38] >ese> out cie.98 +.38
[09:40] >cipher> cost l .64
[09:40] >cipher> ulta l .70
01[09:41] >Threei> Long Setup:  X  .55 break
01[09:41] >Threei>  If holds  .45
[09:41] >dino> cost hl l .73
01[09:41] >Threei>  1:1 in a hurry
[09:41] >cipher> out cost .97+.33
[09:44] >cipher> cost l. 55
01[09:44] >Threei> Long Setup:  RHT  .10 break
01[09:44] >Threei>  If holds  51
01[09:45] >Threei>  hl
[09:45] >cipher> out cost -.16
01[09:46] >Threei>  change to .05 break
01[09:46] >Threei>  If holds  .95
01[09:48] >Threei>  Invalidated
[09:49] >ese> L cie .94
[09:49] >ese> sorry late call moving to fast
[09:49] >nemo> fcx
[09:49] >thomcbell> i took the trade lvs
[09:49] >patel> nice call on LVS tbell
[09:49] >thomcbell> 45.27
01[09:50] >Threei> Short Setup: FB  .85 break
01[09:52] >Threei>  ha;f out
[09:53] >ese> out cie .17 +.23
01[09:56] >Threei> Short Setup: WMT  .20 break hl
[09:57] >dino> gj
[09:57] >dino> cost=pulp
01[09:57] >Threei>  If holds  .30
01[09:58] >Threei>  FB target 1:3
01[09:58] >Threei>  Invalidated  WMT
01[10:00] >Threei>  Boehner on TV soon
01[10:00] >Threei>  after "closed door meeting"
01[10:01] >Threei>  is there any other kind?
[10:01] >patel> BBY 12.14/12.04 thoughts
01[10:02] >Threei>  no read
[10:02] >patel> okay
[10:02] >dino> 07 red
[10:03] >patel> market doesnt like boehner
01[10:03] >Threei>  (US) US House said to be considering a vote on fiscal cliff after Christmas - Politico- Majority Leader Cantor (R-VA) is telling House GOP members to expect to be in town and in session on Christmas Eve.
[10:03] >dptl> good morning
01[10:03] >Threei>  (US) Senate Majority Leader Reid (D-NV): Very little progress has been made in fiscal cliff talks
01[10:03] >Threei>  dp :)
01[10:04] >Threei>  (US) US House Speaker Boehner reiterates President Obama has not brought a balanced approach
01[10:05] >Threei>  - Majority Leader Eric Cantor (R-VA): Discussion from Democrats has only been on one side of the ledger, regarding taxes
[10:05] >dino> out cost .23, +.50 toughie
01[10:07] >Threei>  stop to .81
01[10:11] >Threei>  to .76
[10:12] >dptl> cog .40 long ?
01[10:12] >Threei>  1:2
[10:12] >thomcbell> long setup aig 35.20 break if holding 35.10
01[10:12] >Threei>  COG, yeah
[10:14] >dptl> in .41
[10:14] >thomcbell> AIG has yet to trigger - like it more now if it does now
[10:14] >thomcbell> the market very wishy washy though
[10:15] >thomcbell> target is 1:2 on AIG
01[10:16] >Threei>  1:3, out
01[10:16] >Threei>  whew
[10:16] >patel> nice trade
[10:16] >Will49> tks Vad
[10:17] >patel> I left FB alone this time and it worked.
[10:21] >thomcbell> FB - sometimes a failed long setup is the best time to short
[10:21] >patel> I agree tbell
01[10:21] >Threei>  plus yesterday's history of rug pulls
[10:21] >patel> yesterday after a failed long
[10:21] >patel> it worked great
[10:22] >patel> and did today as well
01[10:22] >Threei>  rewmember my musings yesterday about the way FB started trading, as a template for future trades?
01[10:23] >Threei>  12:35] >Threei> thisd is third rug pull today on FB
01[10:23] >Threei>  [12:38] >dino> just walk away
01[10:23] >Threei>  [12:38] >dino> "better worlds than this"
01[10:23] >Threei>  [12:38] >Threei> no, not interested in it for today
01[10:23] >Threei>  [12:38] >Threei> just making an observation to get an idea how to play it from now on
[10:24] >thomcbell> short setup slw 37.35 break if holding 37.43
[10:24] >dino> aap spike
[10:24] >thomcbell> target is 1:2
01[10:25] >Threei>  visual
01[10:25] >Threei>  http://goo.gl/1lpFw
[10:26] >nemo> look at cie
[10:27] >thomcbell> slw invalidated
01[10:28] >Threei>  COG slowly working
[10:29] >dino> avd sm l .71 gappy trader
[10:29] >dptl> half out cog
[10:30] >dptl> out rest
[10:33] >thomcbell> stopped aig -.11
[10:34] >dptl> met .65 short?
01[10:35] >Threei>  can't tell
[10:35] >dptl> k
[10:38] >nemo> cie broke range
[10:39] >patel> CIE nice wedge off of the 5 minute chart
[10:40] >nemo> had that dead period, quick flush down to vwap then the break in the other direction
[10:46] >thomcbell> aig 35.15 break if holding 35.05
[10:49] >dino> asps pulp
01[10:49] >Threei>  lol:
01[10:49] >Threei>  George Takei
01[10:49] >Threei>  If we all carved 12/21/3012 onto walls and caves today, think how many people we'd freak out in 1000 years.
[10:56] >thomcbell> aig stopped again -.05 - not my day
[10:57] >nemo> turning into a fed range day
[10:57] >thomcbell> it sure is
[10:57] >dino> volume dropping, scanners slow
[10:57] >dptl> what time?
[10:57] >dino> 12:15
[10:57] >nemo> so, at best, buy support, sell resistance, breakout plays will be low probability
01[10:57] >Threei>  right
01[10:57] >Threei>  breakdowns, maybe
01[10:58] >Threei>  like AIG is trying to form now
[10:59] >nemo> finnies flatline, spy scraping lows with daily pivot below.  iwm hanging near Weekly R2
[10:59] >nemo> and bonds moving higher
01[11:03] >Threei> Long Setup:  WMT  .30 break hl
01[11:03] >Threei>  If holds  .20
[11:03] >dino> esio hl l .89
[11:06] >dino> joy drop
01[11:07] >Threei>  Invalidated
[11:15] >dptl> anf .70 short if stays under .80 ?
[11:15] >dino> retailers not doing much last few days, jwn, pir, kss
01[11:20] >Threei>  market starts reversing to the upside
01[11:21] >Threei>  not ready to jump into longs, but short plays are on hold
01[11:24] >Threei> Long Setup:  GLD  .80 break hl
01[11:24] >Threei>  If holds  .70
01[11:27] >Threei>  Equity markets in Asia and Europe tested YTD highs ahead of the FOMC meeting this afternoon. US markets have been much less frothy as Democrats and Republicans signal another deadlock in the fiscal cliff negotiations
01[11:27] >Threei>  - The FOMC decision is a three-act drama today: the policy statement drops around 12:30ET, economic forecasts come at 14:00ET and Chairman Bernanke's press conference is at 14:15ET. Analysts expect Operation Twist to be replaced with unsterilized Treasury purchases of roughly the same size. The Fed has signaled that it would like to supplement or replace its calendar-based guidance at some point, but that change is not expected today. Markets are also waiting for a definition of what constitutes a "substantial" improvement in labor market conditions to warrant phasing out the Fed's net asset purchases.
[11:32] >nemo> http://www.emotionreply.com/g/20/19.gif
[11:33] >dptl> lol
[11:33] >Will49> good one
[11:33] >scottie> lol
[11:33] >dptl> feels like i just looked in the mirror
01[11:33] >Threei>  lol
01[11:36] >Threei>  let's trail GLD to .74
[11:41] >dptl> whats up with jcp?
01[11:41] >Threei>  Deutche ban upgrade
01[11:41] >Threei>  bank
[11:42] >dptl> i see ty
[11:42] >patel> Threei: I am in DG long
[11:42] >patel> from 43.28 with a 43.16 stop
01[11:43] >Threei>  wow
01[11:43] >Threei>  what kind of entry is this
01[11:43] >Threei>  43 break was a valid setup,
01[11:43] >Threei>  43.15, so so but still OK
01[11:44] >Threei>  but .28 is entry into spike with no consolidation
01[11:44] >Threei>  not my kind at all
[11:44] >patel> I wanted the HOD of the to break before going in.
01[11:44] >Threei>  not sure I understand
[11:46] >dptl> met .70 long?
01[11:47] >Threei>  yeah
[11:48] >dptl> in .60 stop
01[11:48] >Threei>  patel... it works but don't let it fool you
01[11:49] >Threei>  this kind of entries will hurt much more often than not
[11:49] >dino> avd to .12
01[11:49] >Threei>  buy breakouts of consolidation range, not spikes
[11:50] >patel> okay
[11:50] >dino> to .19
[11:50] >dino> out avd .20, +.49
[11:51] >Will49> sweet
[11:51] >dino> ty, took awhile
[11:51] >robbers> wtg dino
01[11:51] >Threei>  nice one
[11:51] >dino> ty
01[11:56] >Threei>  1:1 GLD
[11:57] >Will49> tks Vad
01[11:58] >Threei>  1:2m out
01[11:58] >Threei>  yw
01[11:59] >Threei>  no news
01[11:59] >Threei>  who knows why it sat on its butt for half an hourm then spiked to 1:2 in one minute
01[11:59] >Threei>  but I'll take it
[12:00] >robbers> Nice call, Vad, regardless of the time it took.
[12:01] >Will49> yeah, I can sit on MY but for trades like that
[12:01] >Will49> butt
01[12:05] >Threei>  MET will make dp blue in face, like in that nemo's gif, lol
[12:06] >dptl> lol yea
[12:13] >thomcbell> FB remains vulberable
01[12:13] >Threei>  vulberable = vulnerable + unbearable?
[12:13] >dptl> look at .75 offer met :)
[12:14] >dptl> it's not me lol
01[12:14] >Threei>  good
01[12:14] >Threei>  it'll act a a magnet, and when it slices through that offer, stock will spike up hard
01[12:16] >Threei>  sheesh GLD
[12:16] >dptl> i think that dude just canceld it
01[12:17] >Threei>  some of it got taken, and he ran away not to be steamrolled
[12:17] >thomcbell> aig at the pivot here 34.88
01[12:17] >Threei>  not much difference, it acts almost the same on the stock
01[12:18] >Threei>  lifting such offer signifies strength and conviction, offer ruinning away signifies lack of confidence by sellers... either is b'ullish
[12:18] >dptl> i took half out here
01[12:19] >Threei>  yup
[12:20] >dptl> stop to b/e
01[12:20] >Threei>  who put gold against the wall and called for firing squad?
[12:21] >nemo> finnies been strong all day, market will like the news
[12:25] >thomcbell> long setup FB 27.48 break if holding 27.38 target 27.68
[12:25] >dptl> lets take  hod met
01[12:26] >Threei>  >MET> yes sir
[12:26] >dptl> :)
[12:27] >thomcbell> aig making an attempt to hold the pivot here
[12:28] >thomcbell> could be noise due to Bernanke
[12:28] >nemo> guys you might want to get flat NOW!
[12:29] >nemo> you could get caught in some messy algo arbitrage
[12:30] >nemo> bonds are strong along with finnies weird
01[12:30] >Threei>  *FOMC HOLDS FED FUNDS RATE TARGET AT 0.25% (AS EXPECTED):DROPS 2015 FROM STATEMENT- Vote 11-1 (Jeffrey M. Lacker again dissents; opposing additional asset purchases)
[12:31] >dptl> cheezzz    out some more
01[12:31] >Threei>  gold ate firing squad
01[12:31] >Threei>  and spat out bones
01[12:31] >Threei>  I'd be out in full dp
[12:31] >thomcbell> FB 1:1 for an 1/8 of a second
[12:31] >nemo> bonds collapsing
01[12:32] >Threei>  - Adopts monetary policy thresholds; employment rate at 6.5%, inflation at no more than 2.5%
[12:32] >dptl> just 100 sh left
[12:32] >dptl> ok out
01[12:33] >Threei>  this kind of move is great if you positioned right before, which you were,
01[12:33] >Threei>  but don't stick around for too long,
[12:33] >nemo> first they squeeze the shorts, now they squeeze the longs, 3rd move is likely direction
01[12:33] >Threei>  it usually whipsaws
01[12:33] >Threei>  see?
[12:34] >dptl> ye...crazy
[12:34] >nemo> they're going to buy 45B a month in mortgage bonds too
[12:34] >nemo> nasty shit
[12:34] >nemo> oh, sorry...fecal matter
[12:34] >dptl> lol
[12:35] >nemo> http://www.businessinsider.com/fed-announces-evans-rule-2012-12
[12:38] >thomcbell> stop to break even on FB
[12:39] >nemo> being in a trade before the announcement...must have a horseshoe up ur ass
[12:40] >thomcbell> slw and gdx strong
[12:43] >thomcbell> stop to 27.55 on FB
[12:45] >dptl> jcp .45 long?
[12:45] >dptl> ah...run away
[12:46] >thomcbell> very nice boring play on met
[12:46] >thomcbell> perfect
[12:47] >thomcbell> FB stop to 27.58
[12:47] >dptl> :)
[12:50] >thomcbell> gdx looks like it has room
[12:50] >thomcbell> higher
[12:52] >thomcbell> FB close enuf out 27.67 mear 1:2
[12:52] >dptl> ye gold run up like 10 bucks in half an hour
[13:02] >thomcbell> slw 38 break if holding 38.08
[13:03] >thomcbell> cacncel slw
01[13:05] >Threei> Short Setup: RIMM  .20 break
01[13:05] >Threei>  If holds  .25
[13:05] >scottie> not in short list
[13:05] >_syncc> Hey guys, got distracted this morning, but now im here. I missed a good morning
01[13:05] >Threei>  you did
[13:05] >_syncc> speaking of rimm, whoa.
[13:07] >scottie> dri s .10 if holds .20 ?
[13:07] >_syncc> Hey Vad, you are Ukranian right?
01[13:07] >Threei>  by country of exodus
[13:08] >_syncc> http://www.youtube.com/watch?gl=CA&v=fzLtF_PxbYw
01[13:08] >Threei>  can't tell scottie
[13:08] >_syncc> saw this last night :)
01[13:08] >Threei>  50/50
[13:08] >scottie> tks
01[13:08] >Threei>  lol
[13:09] >thomcbell> wowwy gdx and slw
[13:10] >_syncc> wowwy abx :)
[13:11] >nemo> careful, everybody thought they would extend purchases this is whacky
[13:11] >dino> esio stop .86, -.03
[13:11] >_syncc> when you say -.03, this is negative three cents right? not a percentage?
01[13:12] >Threei>  yes
[13:12] >_syncc> ty
[13:12] >dino> yes
01[13:13] >Threei>  RIMM half out
[13:18] >dptl> got to go...see ya tomorrow all
[13:18] >Will49> be good dp
[13:19] >scottie> dp
01[13:19] >Threei>  take care dp
[13:20] >dptl> :) i'll try Will...just think of me when you look at that gif file Nemo posted...lol
[13:21] >dptl> i am gonna make it wallpaper on my comp :)
[13:22] >_syncc> Vad, you out of rimm yet, or still half?
[13:22] >Will49> lol
01[13:23] >Threei>  second half is being stopped if stock moves beyond breakeven
01[13:23] >Threei>  .21 in this case
01[13:24] >Threei>  remember instructions how partial/trail routine works?
[13:25] >_syncc> "Scalpers take full exit at this level; day traders take first partial and trail their stop under the breakeven point"
[13:25] >_syncc> but it says under the BE point???
01[13:25] >Threei>  under for long
01[13:25] >Threei>  above for short
[13:25] >_syncc> ohh, got it
01[13:25] >Threei>  :)
[13:25] >_syncc> but then wouldnt you lose money is under for long and above for short
[13:26] >_syncc> if under**
01[13:29] >Threei>  1 cent under?
01[13:29] >Threei>  shrug
[13:29] >_syncc> lol
01[13:29] >Threei>  your actions are determined by market action
01[13:29] >Threei>  market action says:
01[13:30] >Threei>  here is former resistance which served as your trigger if broken,
01[13:30] >Threei>  now it's a support,
01[13:30] >Threei>  if pullback goes under it, support is no longer holding thus your long is no longer valid. Close your position.
01[13:31] >Threei>  That's why you trail your long stop under support, which is b.e point
01[13:31] >Threei>  see the logic?
[13:31] >_syncc> and the stop is always a few pennies under the support?
[13:31] >_syncc> what about whipsaws though?
[13:32] >_syncc> (for long btw)
01[13:32] >Threei>  one penny
01[13:33] >Threei>  what about them?
01[13:33] >Threei>  they happen
01[13:33] >Threei>  market is not an environment where anything happens always, or never
01[13:33] >Threei>  you go with "most often"
[13:34] >dino> think probabilities
01[13:34] >Threei>  yup
[13:35] >_syncc> and most often is whipsaws do not occur, hene the one penny under the support?
[13:35] >_syncc> hence**
01[13:35] >Threei>  most often lost of support results in trade reversal
01[13:35] >Threei>  and sometimes they rinse
01[13:35] >Threei>  we hate rinses,
[13:35] >dino> emn spike
01[13:35] >Threei>  but if you try to avoid them, you will blow your stops
01[13:36] >Threei>  and those trades that are legit reversals will kill you
[13:36] >_syncc> so stick with the stops
01[13:36] >Threei>  this is called random reinforcement by the market, and is one of market's most dangerous "features"
01[13:37] >Threei>  let me throw one link your way
01[13:37] >Threei>  http://blog.realitytrader.com/2007/05/stops-why-dont-we-keep-them.html
[13:38] >scottie> aet l .40 if holds .30 ?
[13:38] >_syncc> just to clear things up: you said that once the trigger is broken, that level becomes the support, but on the instructions it says that the stop is placed under the "if hold" level. For example break 10 if hold 9.90, stop placed under 9.90?
01[13:39] >Threei>  I'd rather hunt for aggressive entry on it, scottie
01[13:39] >Threei>  right
01[13:39] >Threei>  when 1:1 is reached, this broken resistance becomes legitimate new support
01[13:40] >Threei>  not right away, otherwise you'll be a subjet of shakeout on market noise
[13:40] >_syncc> ohhhh
[13:40] >_syncc> awesome, got it now. Thanks man :)
01[13:40] >Threei>  np
01[13:41] >Threei>  go over educational blog
01[13:41] >Threei>  you will find a lot of things that will put the structure together for you
[13:41] >dino> emn hl s .75
01[13:45] >Threei>  you'll have whole next week to absorb it, while my wife decides whether she wants to throw me in the volcano - and more if she answers that positively
[13:46] >_syncc> Im going to have to go over the blog tonight, looks like great reading material.
[13:46] >_syncc> And marriage--not looking forward to it.
[13:46] >dino> when are you out vad/
01[13:46] >Threei>  Monday 17
[13:46] >dino> until?
01[13:46] >Threei>  back on 26
01[13:47] >Threei>  (unless wife... see above)
[13:47] >_syncc> volcano-- Hawaii perhaps?
01[13:47] >Threei>  yup
[13:47] >dino> sweet
01[13:47] >Threei>  that's what my camera said :)
[13:47] >_syncc> ever been to Switzerland
[13:48] >_syncc> your camera might break due to the beauty
01[13:48] >Threei>  imagine, last time I';/ve been to big island, I still shot film
[13:48] >scottie> AIG s .70 ?
[13:49] >dino> emn stop -.26
01[13:49] >Threei>  I think so
[13:49] >dino> dnb drop
[13:52] >_syncc> is there a potential for abx to break 36 by end of week?
01[13:53] >Threei>  yes... but how does it help you?
01[13:53] >Threei>  there is also potential for it to lose 35
01[13:53] >Threei>  and 34
01[13:53] >Threei>  forget this prediction crap
01[13:54] >Threei>  go with setups
01[13:54] >Threei>  tested, tried, proven
01[13:54] >Threei>  there is setup - there is a trade
[13:54] >_syncc> i was just looking at my TA, and it shows me resistance at 36....
01[13:54] >Threei>  no setup, no trade
[13:54] >thomcbell> i think aig is 2 sided 34.78 break up and 34.68 break down
[13:55] >dino> rsistance can last a long time
[13:56] >nemo> we're bernanke range bound
[14:07] >dino> what time bernie?
[14:08] >thomcbell> gdx and slw day highs
[14:08] >thomcbell> despite lagging gld
01[14:08] >Threei>  14:15
[14:09] >dino> ok
[14:09] >dino> taking a little break. in capits/euphoria mode until close
[14:13] >thomcbell> Vad i just got my copy of Master and Margarita from Amazon
[14:13] >nemo> which version though?
01[14:14] >Threei>  which translation?
[14:14] >nemo> original unedited, or soviet approved?
[14:14] >thomcbell> Michael Glenny
[14:15] >_syncc> isnt the original by bulgakov
[14:15] >_syncc> thats the copy I have
01[14:15] >Threei>  I don't know that translation, tbell
[14:15] >thomcbell> ok
01[14:16] >Threei>  one I found to be really good was by Pevear and Volokho
01[14:16] >Threei>  yes syncc, but original is written in Russian... :0
[14:17] >_syncc> oh michael glenny is the translator..
01[14:17] >Threei>  and you need a really good translation, this is not a manual where you look for accuracy
[14:17] >_syncc> thats mine
[14:17] >_syncc> http://www.amazon.com/Master-Margarita-Mikhail-Bulgakov/dp/0679760806
[14:19] >patel> DG geez
[14:25] >nemo> looking for spy to maybe test 144
[14:28] >dino> gdi
[14:29] >dino> p/e offers mid to high 70s
01[14:32] >Threei>  did you take AIG scottie?
[14:33] >scottie> dri s .60 ?
[14:33] >scottie> no
[14:33] >dino> talking to yourself?
[14:33] >scottie> lol
[14:33] >dino> :)
[14:34] >scottie> no was the answer to Vad's question :)
01[14:34] >Threei>  lol
01[14:34] >Threei>  too bad
[14:35] >scottie> question about dri still valid though
01[14:36] >Threei>  probably
01[14:37] >Threei>  chart is right, I am just not very confident that market has more downside
01[14:37] >Threei>  but DRI is weak
[14:37] >scottie> ok
[14:41] >scottie> in .59
[14:42] >_syncc> what is your stop?
[14:42] >nemo> yeah, they're not throwing any volume at the indexes
[14:42] >scottie> .71
[14:42] >nemo> spy is at vwap, finnies too
01[14:51] >Threei>  I'd trail to .66 at this point
01[14:51] >Threei>  to protect from double bottom
[14:56] >scottie> half out .51
[14:56] >scottie> stop .61
[14:56] >dino> gj
[14:57] >scottie> ty
[14:57] >thomcbell> short setup rimm 13.25 break if holding 13.34
01[15:00] >Threei>  syncc... see how wel structured setups work?
01[15:00] >Threei>  no thinking, no guess, no projections
01[15:00] >Threei>  just follow the routine
[15:00] >_syncc> im still trying to figure out how you guys make these setups wo begin with
[15:00] >_syncc> to begin with*
[15:01] >_syncc> i can read what you guys are saying, but where does it come from
[15:01] >patel> ahhhhh not on short list
[15:01] >thomcbell> scalp rules on rimm
01[15:03] >Threei>  http://www.realitytrader.com/111trades.html
[15:04] >_syncc> everyone here took the course??
[15:04] >scottie> I did
[15:05] >dino> wow selloff
01[15:05] >Threei>  almost everyone but me
[15:05] >Will49> my next step
[15:05] >scottie> lol
01[15:06] >Threei>  but I am way behind, I haven't read MPP yet...
[15:06] >dino> syncc i read the books. but after awhile your "gut' tales over. subcon recognition i think
[15:06] >scottie> stop .56
[15:11] >_syncc> scottie, dino will etc.... is this your full time job?
[15:11] >scottie> job? what job ?
[15:12] >_syncc> i had a feeling id get sny remarks..
[15:12] >_syncc> you should all be stand up comedians
[15:12] >scottie> I'm on it full time yes, lol
[15:12] >_syncc> :)
[15:12] >Will49> learning
[15:13] >Will49> full time learning
[15:13] >scottie> I too am learning
[15:13] >thomcbell> going to flatten rimm here at 13.25
[15:13] >dino> full time trader yes, 35 hours/week. real estate speculation on the side
[15:13] >_syncc> interesting, i was going to take some real estate courses at schulich
[15:14] >_syncc> until I fell in love with accounting
[15:14] >_syncc> you wont hear too many students say that..
[15:14] >dino> i've been here w/vad since 2002 i think
[15:14] >_syncc> oh man, and youre still here
[15:14] >_syncc> Thats a positive indication
[15:15] >scottie> been here 6 months
[15:15] >dino> i have a bs in finance syncc. but it hurt me w/trading, because there is no efficient market, etc. too many book tought theories. they do not work w/tape rading
[15:15] >dino> reading
01[15:15] >Threei>  wow... a lot of selling
[15:16] >dino> only advice i can give you is to find your "edge". w/o it you are f#cked
[15:16] >dino> and remember, les is more (keep it simple)
[15:16] >scottie> out
[15:16] >Will49> good trade scottie
[15:17] >Will49> you worked it
[15:17] >scottie> tks will
[15:17] >dino> wtg scott
[15:17] >scottie> and dino
01[15:18] >Threei>  dino... and when you say "les is more," you mean our switzerland friend, right?
[15:18] >nemo> Less Les is more
[15:19] >nemo> no les best
[15:19] >_syncc> interesting dino
[15:21] >dino> lol vad, no i mean less, typo. but for me my edge is to find my setups and keep it simple
[15:22] >dino> imo syncc, you must find your edge. what wors for you. million ways to trade, must find yours
[15:22] >dino> wors=works
[15:22] >_syncc> that isssss why im trialing this chatroom
[15:23] >_syncc> unless i take the course, I will probably just follow along with the trades you guys say
01[15:23] >Threei>  it's not unless
[15:23] >_syncc> although, I am not sure if day trading is for me, Im too emotional
[15:23] >dino> become a machine or you will die
01[15:23] >Threei>  market will cure that rather fast, lol
01[15:24] >Threei>  emotions turn off at 9:30 and on at 4 om
01[15:24] >Threei>  between that, it's pure execution
[15:24] >dino> one missed stop will destroy a week of great trades. you must be a machine w/stops
01[15:25] >Threei>  when you buy an apple, you exchange money for nutrients. Do you get emotional about that?
[15:25] >dino> further, depending on your style 3 or 4 stops a day may be fine. typically i have 2 to 3 and do ok
01[15:25] >Threei>  when you buy a stock, you exchange money for potential profit
01[15:25] >Threei>  don't get emotional about that either'
01[15:25] >Threei>  you may get bad apple
01[15:25] >Threei>  and you may get bad trade
01[15:26] >Threei>  both are subject to discarding
01[15:26] >Threei>  and moving on to the next
01[15:26] >Threei>  none is subject to emotions
[15:26] >dino> or... if a stock hits your stop ditch like a cheating girlfriend. both only emotionally mess you up
[15:27] >_syncc> ahahahah
[15:27] >_syncc> best analagy yet, dino
[15:27] >thomcbell> lets be honest - rimm trades great
[15:27] >thomcbell> lol
[15:27] >_syncc> but I do see the logic behind what you are saying Vad and Dino, it is going to take time for me. An entirely new mindset..
[15:27] >_syncc> I concur, thomcbell
[15:28] >dino> as the greatest trader ever said; i loss only bothers me until i take it. (jesse livermoore, rem. of a stock trader). think about it. once the loss is taken, you move on. awesome book by the way
[15:29] >_syncc> that's true. It does eat at you until you take the loss. Good idea to put stops in when you are in a clear state of mind, and let your stretegy play things out
[15:29] >dino> 07 still red, wow
[15:30] >dino> syncc. profits=luck, stops=skill. make stops your religion
01[15:31] >Threei> Short Setup: FB  .60 break
01[15:31] >Threei>  If holds  .70
01[15:36] >Threei>  SPY went red
01[15:41] >Threei>  let's keep stop .66 here
[15:43] >dino> 3 pm pattern is to go short an up market
[15:46] >dino> 07 red again
01[15:53] >Threei>  time's running out
[15:53] >_syncc> well im off, thanks guys for your insights
01[15:54] >Threei>  take care syncc
[15:54] >patel> alright guys
[15:54] >patel> take care
[15:54] >Will49> c ya patel
01[15:56] >Threei>  scratching FB
01[15:56] >Threei>  thank you all
[15:56] >Will49> TTFN everyone
01[15:56] >Threei>  have a great evening, see you tomorrow
[15:57] >dino> gn all, thx for ideas
[15:57] >scottie> gn everyone

Dec 11 2012

Decent day even though second half was a on a boring side.

Certain patterns often repeat themselves several times on intraday chart. In this case, we went for a short trade based on relative strength (FB was weaker than market overall, bouncing weakly while SPY hit new highs), and counting of repetition of the earlier sharp drop. That was exactly what happened. There also was somewhat humoristic element to a trade, read the embedded comments.

Session Time: Tue Dec 11 00:00:00 2012
[08:48] {dino} gm
01[08:49] {Threei}  morning dino
[08:57] {nemo} anybody here from Houston?
01[09:01] {Threei}  you might want to try again when more folks connect :)
[09:02] {patel} Good Morning All
[09:02] {patel} nemo: 6 hours away from Houston
01[09:02] {Threei}  patel :)
[09:02] {nemo} something tells me your not a Houston fan...
[09:03] {patel} lol
[09:03] {patel} huge Cowboys fan
[09:03] {patel} whcih is probably worst than being a Texans fan right now.
[09:09] {scottie} good morning
01[09:09] {Threei}  scottie :)
[09:09] {patel} gm scottie
[09:11] {thomcbell} aig strong as 10 men
[09:11] {scottie} patel
01[09:12] {Threei}  American International Group, Inc US Treasury confirms plans to sell remaining stakeof 234M common shares at $32.50/shr- Treasury will continue to hold warrants to buy 2.7M shares
[09:13] {thomcbell} an sales trader friend of mine says shares placed in strong hands - preference to large funds with longer than our holding period - :)
01[09:14] {Threei}  yup: Underwirters include BofA Merrill, Citi, Deutsche Bank, Goldman, JP Morgan
[09:15] {Beau} good morning
01[09:15] {Threei}  beau :)
[09:18] {Will49} Good morning
01[09:18] {Threei}  will :)
[09:19] {thomcbell} AIG originally failed around 34.18 this am and then pulled in to 33.78 or so and then just rallied back up to 34.28
[09:19] {thomcbell} i am very interested in buying a pullback
01[09:31] {Threei} Long Setup:  FCX  .30 break hl
01[09:32] {Threei}  If holds  .20
01[09:33] {Threei}  Invalidated
01[09:34] {Threei} Long Setup:  FB  .20 break
01[09:34] {Threei}  If holds  .10
01[09:35] {Threei}  no go
01[09:36] {Threei}  wow
01[09:36] {Threei}  no news
01[09:37] {Threei}  serious rug pull
[09:37] {nemo} mcp running in a short squeeze
[09:37] {thomcbell} short setup lvs 44.70 break if holding 44.80 half lot
[09:38] {thomcbell} lvs 1:1
[09:41] {thomcbell} lvs flat
[09:41] {dino} kmt drop, pulp
[09:42] {dino} hl l .00
[09:42] {nemo} euro markets on their highs
01[09:43] {Threei} Long Setup:  CAT  .45 break hl
01[09:43] {Threei}  If holds  .35
[09:45] {dino} trip drop
[09:46] {dino} halt
01[09:46] {Threei}  circuit breaker
[09:46] {thomcbell} long setup aig 34.26 if holding 34.16
[09:46] {nemo} wow, circuit breaker when it's up 10 %
01[09:46] {Threei}  CAT 1:1
01[09:47] {Threei}  1:2
[09:47] {scottie} +.19 tks Vad
[09:47] {thomcbell} aig 1:1
01[09:47] {Threei}  1:4
01[09:47] {Threei}  eeck
[09:47] {patel} tks Vad
[09:47] {Will49} tks Vad
[09:47] {patel} nice
01[09:47] {Threei}  welcome guys
[09:47] {thomcbell} aig 1:2
01[09:47] {Threei}  those breakers and for a change, direction agnostic
01[09:48] {Threei}  nice AIG
[09:48] {patel} what is a circuit breaker?
[09:48] {thomcbell} AIG 1:3 for a second
[09:48] {nemo} it's like a fuse when there's a power overload
01[09:49] {Threei}  idiotic invention... they halt stock if price changes 10% or more in some short time, don't remember which
[09:49] {nemo} under 5 minutes I think
[09:49] {patel} ahh
01[09:49] {Threei}  instituted after flash crash to save us from ourselves
01[09:50] {Threei}  as usual, does more harm than good
[09:50] {nemo} Tax those yacht buyers
01[09:50] {Threei}  but who cares, they need to be seen as taking measures
[09:50] {patel} on that FB i had a stop in place and it stopped me out 5 cents below my stop price.
[09:50] {nemo} ohh...mmmhhh put the boat companies out of business and all those blue collar jobs
[09:50] {nemo} we're going for Wr1 on spy and that volume resistance in the .40ish area
01[09:51] {Threei}  why do you use automated stops?
01[09:51] {Threei}  you are her, you can do it manually better
01[09:51] {Threei}  here
[09:51] {patel} my prop firm
[09:51] {patel} sent me an email to tell me that I need to have stops in place at all times.
[09:52] {patel} I got an email from them on Friday that if I am not in their chat room daily then they will cut my BP.
01[09:52] {Threei}  are you trading their money?
[09:52] {patel} it's my money but I am using their money as well.
[09:53] {dino} kmt to .36
[09:53] {cipher} infi l.67
[09:53] {dino} kmt to .40
[09:54] {cipher} out infi .07 +.40
[09:54] {dino} out +.40 kmt
[09:54] {Will49} caching dino!
[09:54] {Will49} ca-ching
[09:55] {dino} lol, ty
[09:55] {cipher} trip open
[09:56] {cipher} TRIP L.14
01[09:56] {Threei}  wow CAT
01[09:56] {Threei}  can we have some back?
[09:56] {cipher} out trip .44 +.30
[09:58] {thomcbell} half lot - FIO 22.30 break if holding 22.20
01[09:59] {Threei} Short Setup: FB  .95 break
01[09:59] {Threei}  If holds  .05
[09:59] {thomcbell} fio 1:1
[10:00] {thomcbell} lvs 44.80 break if holding 44.90 - half lot
[10:00] {thomcbell} fio 1:2
01[10:00] {Threei}  (US) Dec IBD/TIPP Economic Optimism: 45.1 v 50.0e
[10:01] {thomcbell} flat FIO 2.47
[10:01] {thomcbell} 22.47
[10:01] {thomcbell} wow AIG is a beast
01[10:04] {Threei} Short Setup: AIG  .60 break
[10:05] {dptl} good morning all
01[10:05] {Threei}  If holds  .70
01[10:05] {Threei}  dp :)
01[10:06] {Threei}  FB taregt 1:3
[10:06] {thomcbell} u still there on FB Vad?
01[10:06] {Threei}  AIG, le't trail to .66
01[10:06] {Threei}  1:1 FB
01[10:06] {Threei}  1:2
[10:07] {scottie} fb +.19 tks
[10:07] {robbers} out fb, thanks
01[10:07] {Threei}  :)
01[10:07] {Threei}  huh!
01[10:07] {Threei}  look at this
01[10:07] {Threei}  11 Dec 10:04[FB] Notes Facebook gifts service expanded to all of US effective today - financial press
[10:07] {thomcbell} pivot is 27.70
01[10:07] {Threei}  sure thing, thanks for this gift FB
[10:08] {nemo} runaway rally europe still ripping higher
[10:08] {thomcbell} lvs switch to more aggressive 44.82 break
[10:09] {thomcbell} in
01[10:09] {Threei}  this rug pull is almost exact repetition of the one earlier in the morning, and counting on it was one of two reasons for the trade
01[10:10] {Threei}  AIG 1:1
[10:10] {thomcbell} lvs target is 1:2
[10:10] {thomcbell} mgiht be dumb - market very strong here
[10:11] {robbers} out aig, thanks again
01[10:11] {Threei}  yw
[10:13] {thomcbell} lvs stop to 44.80 - not playing games with this setup
01[10:15] {Threei}  (US) Senator minority leader McConnell (R-KY): Pres Obama and his Democrat allies refuse to be pinned down on any specific budget cuts - Senate floor speech- Concerned Democrats want to increase revenue with no spending control.
[10:15] {cipher} hlss s .23
[10:16] {thomcbell} lvs 1:1
[10:17] {dino} esio hl l .00
[10:18] {thomcbell} going to look for an fcx long setup here near the pivot
[10:19] {thomcbell} lvs 1:2 and out
[10:19] {dino} gj
[10:19] {scottie} great tbell
[10:20] {cipher} cov hlss .22 +.01
01[10:23] {Threei}  visual: http://goo.gl/EVG5u
[10:24] {cipher} hlss s.22
01[10:24] {Threei}  GLD looks miserable
[10:25] {patel} how does AIG above 34.61 look
01[10:26] {Threei}  valid long but kind of 51/49
[10:26] {thomcbell} i was thinking the same thing but holding off
01[10:26] {Threei}  not very high odds of it working
[10:26] {patel} yeah
[10:26] {patel} lets leave it alone
[10:27] {patel} 2 to 1 you guys win
[10:28] {thomcbell} aig looks like a possible short setup under 34.48 - to remove some of the froth
01[10:29] {Threei}  let the process of froth removal begin
[10:31] {cipher} cov hlss .17 +.05
[10:32] {thomcbell} FB long setup 28.01 break if holding 27.91
01[10:34] {Threei}  HOG
01[10:35] {Threei}  chatter that hired advisors for company sale
[10:35] {cipher} dltr s .50
[10:35] {cipher} cov .37
[10:36] {cipher} dltr l.35
[10:36] {cipher} out .46
[10:37] {dino} nice
[10:37] {patel} nice cipher
[10:37] {thomcbell} fcx trying to do something here
01[10:38] {Threei} Short Setup: GLD  .20 break
[10:38] {patel} looking like a long play
[10:38] {patel} around 31.93
01[10:38] {Threei}  If holds  .30
01[10:39] {Threei} Short Setup: HOG  .50 break hl
01[10:39] {Threei}  If holds  .60
01[10:39] {Threei}  1:1 but good luck getting a fill
[10:40] {patel} definitely didnt get filled
[10:40] {thomcbell} FB invalidated
[10:42] {thomcbell} FB Invalidated and Tired
[10:42] {Will49} you or the stock?
[10:42] {dino} gco hl l .14 thin
[10:44] {thomcbell} FB
[10:44] {Will49} :)
[10:47] {nemo} would be reasonable for spy to test 144 now that it's here
[10:50] {cipher} dltr s.38
[10:51] {nemo} Boehner speaking at noon
[10:52] {patel} "Short Boner"
01[10:52] {Threei}  yikes
01[10:52] {Threei}  lol
[10:52] {nemo} pathetic
[10:53] {patel} had to get that one out.
[10:53] {patel} where did cc go?
[10:53] {scottie} chkp l .90 if holds .80 ?
01[10:54] {Threei}  50/50 scottie
[10:54] {scottie} ok
01[10:54] {Threei}  51/49 at best
[10:55] {cipher} cov dltr .50 -.12
[10:55] {thomcbell} do u still have ESIO?
[10:57] {dino} yes
01[10:58] {Threei}  good call on FB, tbell
01[10:59] {Threei}  it's trying to change the pattern now
01[10:59] {Threei}  28 break will be interesting for long if consolidates for a few min
01[10:59] {Threei}  right now, not so much
01[10:59] {Threei}  staying away
[10:59] {patel} thoguths on JCP
[11:00] {patel} my stop is 2 wide
[11:00] {patel} 16 cents risk
01[11:00] {Threei}  .60 break was decent setup
01[11:00] {Threei}  where are you in?
[11:00] {dino} pdce hl l .80
[11:01] {dino} .70 i mean
[11:01] {patel} I didnt take it
[11:01] {patel} was thinking about it at 19.66
01[11:01] {Threei}  let's see if it holds .60
01[11:01] {Threei}  if so, might still be good
01[11:01] {Threei}  risk is very small here
01[11:02] {Threei}  nope, invalidated
[11:02] {patel} lol
01[11:02] {Threei}  look at it this way:
01[11:02] {Threei}  long consolidation under .60, formed nice JBE,
01[11:02] {Threei}  break of .60 wa a good setup,
01[11:02] {Threei}  and it worked if you tried for a quick scalp.
01[11:03] {Threei}  On its way back though, you want it to hold \.60
01[11:03] {Threei}  old resistance, new support
01[11:03] {Threei}  it lost .60, bets are off
[11:04] {patel} yeah
01[11:10] {Threei} Long Setup:  FB  .95 break
01[11:10] {Threei}  If holds  .90
01[11:10] {Threei}  as we move in lunch time, picking setups with tightest stops
01[11:12] {Threei} Short Setup: AIG  .65 break
01[11:13] {Threei}  If holds  .75
[11:13] {dino} jw/a drop
[11:13] {dino} casy spike
[11:14] {cipher} dino jw?
[11:14] {nemo} we probably have one more break higher in the market
[11:14] {scottie} where do you intend to partial out on FB ?
01[11:15] {Threei}  just under 28.05
01[11:15] {Threei}  and aim for 1:3
[11:15] {dino} hog hod
[11:15] {dino} jw/a cipher
[11:15] {nemo} AIG likely to close gap on spy break
01[11:16] {Threei}  considering 8-10 cents ratio, not actual stop under .90 :)
01[11:16] {Threei}  AIG may be two-sided
[11:16] {nemo} here we go
01[11:16] {Threei}  I am just not a big fan of l,unch time breakouts
[11:16] {dino} penn drop
01[11:16] {Threei}  too many traps
01[11:17] {Threei}  so my take is, if short side triggers I'll take it, and if long - I'll stay away
01[11:17] {Threei}  FB long is a different animal, it's a pullback entry, not a breakout
[11:22] {nemo} yep
[11:23] {nemo} o.k. next level above 144 is 144.20ish
[11:24] {dptl} cc8 dcc please
[11:24] {dino} out gco .38, +.24
01[11:25] {Threei}  wtg
[11:25] {cc_8} on it
[11:25] {dino} ty
[11:26] {nemo} we should hit new highs for the year by Xmas
01[11:27] {Threei}  - The positive European data out overnight plus the typical pre-FOMC gains are sending US equity indices higher this morning. The DJIA and S&P500 are up 0.8% in the early going, while the Nasdaq is up 1.4% thanks to people stepping in to buy Apple, which itself is up 3.5%.
01[11:27] {Threei}  - There is still no concrete progress from the fiscal cliff talks, although press reports yesterday evening suggested that progress was being made and talks were becoming more substantive over recent days. House Speaker Boehner will update on the latest at 12 noon.
01[11:27] {Threei}  - The FOMC meeting tomorrow is also being seen as a big driver of gains this morning. Analysts point out that US equity markets have rallied ahead of five of the seven FOMC meetings this year. In three of the five rallies, the market sold off the day after the meeting.
01[11:27] {Threei}  unless they decide no deal, nemo
01[11:28] {Threei}  I'd think we will see a lot of nervous twists and turns next 3 weeks
[11:31] {nemo} Ha!  Spy hit R4 as the high
[11:31] {dino} out pdce .91, +.21
[11:33] {scottie} EMC l .50 if holds .45 ?
01[11:35] {Threei}  I think so
[11:35] {dino} esio to .10, thing doesn't move
01[11:36] {Threei}  FB makes a triangle
01[11:37] {Threei}  and bands are tightening
01[11:37] {Threei}  resolution nears
[11:38] {dino} out esio +.10
01[11:38] {Threei}  taking singles today, dino? :)
01[11:38] {Threei}  More than 10,000 people protest in Michigan as state house debates right-to-work legislation
[11:39] {Will49} 10K union workers
01[11:39] {Threei}  funny (in a sad way) banner unfolded by protesters: "Right to work is wrong for Michigan"
[11:39] {thomcbell} wow underestimated how much FIO had in it today
[11:41] {thomcbell} lvs looks vulnerable again to me
[11:41] {thomcbell} wynn red for crying out loud
[11:42] {dino} base hits, thats correct
[11:43] {Will49} looks like everybody waiting for Boehner to take the mound
[11:44] {dino} he's going to say the same old same old
[11:44] {Will49} so far he's been walking the runs in
01[11:48] {Threei}  ok FB, it's time
01[11:49] {Threei}  not only you are infuriatingly mad business, you also make us wait too long for your stock to movbe
01[11:49] {Threei}  where is ese, his hatred for FB would have had a good outlet right now
[11:51] {Will49} he's teaching impressionable kids to appreciate socialism
01[11:52] {Threei}  might be just a skill to teach...
01[11:52] {Threei}  heard Immelt on TV yesterday? "State communism works"
[11:53] {scottie} in EMC .51
[11:53] {dino} kill me now
01[11:53] {Threei}  yes sir... until you are in GULAG
01[11:54] {Threei}  because the only way it works is by labor of millions of slaves
[11:54] {Will49} well?
[11:54] {dptl} jcp .50 short?
[11:54] {Will49} di lives!
[11:54] {Will49} dp
01[11:55] {Threei}  half lot dp
[11:55] {dptl} ok if stays below .60
01[11:56] {Threei}  right
01[11:56] {Threei}  there is a lot of air under that .50
01[11:56] {Threei}  but things are very slow
[11:57] {Will49} Boehner is in the bullpen warming up
01[11:57] {Threei}  last touch of spray-on tan?
[11:57] {patel} he is warming up with the bases loaded
[11:58] {Will49} and I'm on base
01[11:58] {Threei}  you are meanies
[11:58] {patel} FB is on 3rd base
[11:58] {patel} trying to score
01[11:58] {Threei}  I'll hang out with nemo, he is kind and gentle
[11:59] {Will49} hopefully he walks us in patel
[11:59] {patel} yeah
[11:59] {patel} think I should post a status message on facebook
[11:59] {Will49} lol
01[11:59] {Threei}  and he knows math, here is math lesson as nemo sees it: http://goo.gl/hwrRW
[12:01] {scottie} lol
[12:01] {Will49} has the big right-hander thrown any strikes yet?
[12:02] {patel} just got to teh mound
[12:02] {Will49} i want to know when to run
[12:02] {Will49} or steel maybe
[12:02] {Will49} steal
01[12:03] {Threei}  here it goes
01[12:03] {Threei}  (US) House Speaker Boehner (R-OH): Republicans have made a serious offer on the budget, still waiting for White House specifics on cuts
01[12:04] {Threei}  - Hopeful can reach an agreement
01[12:05] {Threei}  - Still red ink as far as eye can see
01[12:06] {Threei}  move your lazy butt, FB
01[12:06] {Threei}  - Reiterates the White House is "slow walking" the negotiations.
[12:07] {thomcbell} aig relentless
01[12:08] {Threei}  JCP is valid still
[12:09] {dptl} not in short list
[12:10] {Will49} evrybody gone to get a hot dog with bases still loaded
[12:10] {dino} fdo hl l .10
[12:12] {Will49} should have used a hockey metaphor...would have been a faster ame
[12:12] {Will49} game
01[12:12] {Threei}  ah, so it's your fault
[12:12] {patel} or go with the 2 minute drill.
[12:12] {Will49} yeah
01[12:13] {Threei}  well, to be fair to today: it's still faster than yesterday was, and we had much better morning, with 3 very nice hits one after another
01[12:13] {Threei}  or 4
01[12:13] {Threei}  my math is fuzzy after that nemo lesson
01[12:14] {Threei}  I noticed he counts rounds fired, dead bodies and vodka shots much faster thasn he does chocolate cakes
[12:15] {dino} out fdo .34 +.24
01[12:15] {Threei}  JCP works, even though on paper
01[12:15] {Threei}  who had it for short, play by the book
01[12:17] {Threei}  I don't think this gal is sane at all:
01[12:17] {Threei}  (US) House Minority Leader Pelosi (D-CA) reiterates call for Republicans to act to vote on middle class tax cuts; President's plan already agrees to $1.6T in spending cuts- Tax reform should be left for the next session of Congress. - Notes that spending changes to entitlement programs shouldnt be used as a method to subsidize tax cuts for wealthy
01[12:18] {Threei}  1:1 JCP
[12:18] {Will49} good call dp
[12:18] {dptl} :)
[12:19] {dino} that esio sob decides to hit my stop and go
01[12:20] {Threei}  sobs tend to do that
[12:25] {dptl} gmcr .30 short?
01[12:27] {Threei}  can't tell
01[12:27] {Threei}  unclear to me... rather yes but no conviction for a trade
[12:28] {dptl} k
01[12:31] {Threei}  FB stopped
[12:32] {patel} SWHC long position??
01[12:33] {Threei}  too narrow
[12:34] {dino} dg lod
01[12:35] {Threei}  thisd is third rug pull today on FB
[12:38] {dino} just walk away
[12:38] {dino} "better worlds than this"
01[12:38] {Threei}  no, not interested in it for today
01[12:38] {Threei}  just making an observation to get an idea how to play it from now on
[12:39] {dino} ahh
[12:41] {dptl} hes .60 short?
01[12:45] {Threei}  water torture
[12:45] {nemo} X
01[12:45] {Threei}  another one like FB, will be stuck for hours
[12:46] {dptl} ye... you right
01[12:49] {Threei}  JCP 1:2 is near
01[12:49] {Threei}  very near
[12:49] {patel} nice call on JCP
[12:49] {dptl} ye, to bad not available...Nemo's fault
[12:49] {patel} who is your broker
01[12:50] {Threei}  I am sure
01[12:58] {Threei}  nearer
01[12:58] {Threei}  HES starts looking like long dp
01[12:59] {Threei}  still not delighted by the stock, but if I had to tarde it, gun to head, I'd rather take long on .70 break
[13:00] {dptl} ye but still torturing look
01[13:02] {Threei}  1:2
[13:03] {patel} JCP 1:3
[13:03] {dptl} snif snif...oh wait a min...
06[13:03] * dptl slaps nemo around a bit with a large trout
[13:03] {patel} or 1:2
[13:03] {dptl} there....fill better now
[13:03] {dptl} feel
[13:10] {dino} fdo sm l .20 trigger
[13:18] {thomcbell} oh ESIO was a goodie
[13:18] {thomcbell} i know it wasnt but.....
[13:20] {dino} fdo stop +.02
01[13:31] {Threei} Short Setup: X  .50 break
01[13:31] {Threei}  If holds  .57
[13:32] {dptl} rht .90 short?
01[13:33] {Threei}  hl, yes
01[13:34] {Threei}  Michigan lawmakers approve right-to-work bill for private employees, 58-52
[13:35] {Will49} three cheers
[13:36] {dptl} in rht
01[13:37] {Threei}  should be capable of 1:2
01[13:38] {Threei}  Invalidated  X
[13:39] {dino} .
01[13:40] {Threei}  good point
[13:41] {dino} jwn l .99
[13:41] {thomcbell} Vad i sent you something in chat
01[13:43] {Threei}  responded
[13:47] {thomcbell} long setup FB 28 break if holding 27.92 - half lot due to annoying nature of stock
01[13:47] {Threei}  I'll leave it be for today
01[13:50] {Threei}  things don't trade, they simply drift up and down aimlessly
06[13:50] * Threei hits RHT over the head with 2x4
[13:50] {nemo} we're mimicking euro markets  fb also at serious resistance, probably needs some backing and filling
[13:55] {scottie} PL s .55 if holds .60 ?
01[13:56] {Threei}  yup, aggressive for .50
[13:56] {thomcbell} fio lol
[13:57] {patel} pl
[13:58] {scottie} in .53
[13:59] {dino} out jwn +.10
[14:01] {thomcbell} flattening FB here 27.99
[14:02] {scottie} out
01[14:02] {Threei}  (US) White House's Carney: President Obama has put forward detailed spending cuts ***Note that earlier today, Speaker Boehner and Senator minority leader McConnell (R-KY) asserted that Pres Obama has refused to be pinned down on any specific budget cuts
01[14:02] {Threei}  what is it, a joke to them?
01[14:03] {Threei}  you did not! - did too!
01[14:07] {Threei}  SPY is firmly glued to this level
[14:07] {thomcbell} when the lionshare of the voting population is at the trough - he doesnt have to care
01[14:10] {Threei}  believe it or not but RHT can reach 1:1 this, yes I said THIS century!
[14:11] {dptl} :) another torture
01[14:12] {Threei}  everything is right now... look at GOOG
01[14:12] {Threei}  even this monster doesn't move
01[14:13] {Threei}  here we go... 1:1
[14:13] {dptl} out some
[14:14] {dino} fdo sm l .65
01[14:18] {Threei}  ok, probably time to try this
01[14:18] {Threei} Short Setup: AIG  .10 break
01[14:18] {Threei}  If holds  .20
01[14:18] {Threei}  let's still do hl, out of respect to immobile market
[14:18] {dino} stop fdo -.16
[14:19] {dptl} was yesterday as slow?
01[14:19] {Threei}  second half of the day, yes
[14:19] {dino} wtf rinsed
[14:25] {scottie} aig two-sided ?
01[14:27] {Threei}  chart wise yes...
01[14:27] {Threei}  I can't bring myself to buy here though
[14:27] {nemo} look at the daily
[14:27] {dino} just a lot of random dancing
[14:28] {nemo} yeah so far the "finish like europe" scenario is playing out
[14:33] {dptl} stop to .86 rht
01[14:34] {Threei}  RHT... again, believe it or not but 1:2 is coming this millenia
[14:35] {dptl} yeah :)
01[14:35] {Threei}  AIG...
[14:37] {Will49} tks Vad 1:1 out AIG
[14:38] {Will49} no patience today :)
01[14:38] {Threei}  :)
[14:40] {dptl} ok rht i am out....
01[14:46] {Threei}  1:3 baby
[14:46] {dptl} :) hmm..1:3 didt expect that :)
01[14:46] {Threei}  (still in "believe it or not" category)
[14:46] {dptl} yeah
[14:48] {scottie} aig rinse
[14:49] {robbers} great call, aig
[14:52] {scottie} rimm .60 if holds .55 ?
01[14:53] {Threei}  I hate it
[14:53] {scottie} ok
[14:53] {Will49} tell us how you really feel Vad
01[14:54] {Threei}  hehe
[14:54] {scottie} did it feel god to say it ?
[14:54] {scottie} GOOD
01[14:54] {Threei}  it actually did, lol
[14:55] {dptl} lol
01[14:55] {Threei}  and I will feel even gooder when times comes to short RIMM again
[14:56] {dptl} got to go see ya tomorrow all :)
[14:57] {scottie} dp
[14:57] {Will49} peace dp
01[14:58] {Threei}  take care dp
[14:58] {dino} cya dp
[14:59] {nemo} fas might be a long play here above .30
[15:01] {nemo} spy just above the open
01[15:02] {Threei}  hey, did I have a reason to hate an idea of RIMM long or did I not
[15:02] {scottie} I guess so lol
[15:02] {Will49} you da man
01[15:02] {Threei}  last time I checked, I am...
01[15:03] {Threei}  boy, dp nailed that RHT setup perfectly
[15:04] {dino} thats how he got his nickname
[15:04] {dino} dynamite picks
[15:04] {Will49} lol
[15:04] {dino} can you tell i'm bored
01[15:04] {Threei}  hehe
[15:05] {patel} The 1st 1.5 hours are fun these days.
[15:05] {patel} the rest is just boring as it can get.
[15:05] {dino} pretty much, by 11:00 am tings really die
[15:06] {nemo} well, this is interesting
[15:07] {dino} going for red maybe, lots of time to do it
[15:08] {nemo} wow...that would be impressive
[15:18] {dino} still droping
[15:18] {dino} dropping
[15:18] {patel} Math Question:
[15:19] {Will49} what is 2+2?
[15:19] {patel} If Robbie had 52 candy bars and he ate 38 of them in one day. How much did he have left at the end of the day?
01[15:20] {Threei}  I refuse to take any math questions where numbers exceed the number of fingers on two hands
[15:20] {nemo} O.k. got a joke:
[15:20] {patel} I figured we are all bored.
[15:20] {nemo} Guy walks into a store where they sell brains in a jar
[15:21] {nemo} Irish brains $42/lb
[15:21] {patel} the answer was DIABETES
[15:21] {nemo} French brains $33/lb
[15:21] {Will49} lol
[15:21] {nemo} Ukranian brains $435/lb
[15:21] {nemo} Guy goes "wtf!  how come Ukranian brains are so expensive
[15:22] {nemo} Store guy says, "You have any idea how many Ukranians it takes to get a pound of brains?!"
[15:22] {thomcbell} i gotta run guys - nice day
[15:22] {patel} lol
[15:22] {Will49} haha
[15:22] {scottie} lol
[15:22] {dino} cya
[15:22] {nemo} like that Vad?
[15:22] {Will49} c ya Tbell
[15:22] {scottie} tbell
[15:22] {patel} take care tbell
01[15:24] {Threei}  take care tbell
01[15:25] {Threei}  what can I say nemo... I heard this joke in 50 versions, each differing by the subject joke teller wanted to target
[15:25] {Will49} oh oh Vad is not amused
[15:26] {nemo} yeah me too
01[15:26] {Threei}  I am not ukrainian by nationality so I wouldn;t care much :)
[15:26] {nemo} true
[15:28] {nemo} I'd almost say tna long here, stop under .00 for a run to .40ish
[15:35] {Will49} sheesh nemo...why did you have to say "almost"?
[15:35] {nemo} o.k. next time I'll just call it
[15:35] {Will49} :)
01[15:36] {Threei}  the pain of admitting that nemo was right, eh will?
[15:36] {Will49} :)
[15:36] {Will49} :(
01[15:36] {Threei}  yup, that's the struggle I deal with daily
[15:37] {nemo} it's amazing...looks like iwm will finish above R3, SPY above R2, and finnies, probably in the area of R1, but the end of the day makes it feel like a bad market day
[15:37] {nemo} and actually iwm could keep going with spy heading for .55
[15:51] {patel} alright guys
01[15:51] {Threei}  ok... no more trades
01[15:52] {Threei}  thank you all, have a good evening
01[15:52] {Threei}  see you tomorrow
[15:52] {scottie} gn all
[15:52] {patel} I think I will head out. I need to go play on facebook.
[15:52] {dino} gn all, thx for ideas
[15:52] {dino} st drop