Friday, December 30, 2011

Market Week Wrap-up

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

- Trading volumes were extremely light worldwide during the holiday week. US and European equity indices were flat to up slightly on the week, while in Asia markets were flat to down slightly. In any case, 2011 has been a dismal year for equities, with most major European and Asian indices down by double digit percentages. Germany's DAX ended about 15% lower for the year and the CAC 40 declined 17% in 2011, whereas the UK's FTSE 100 index only fell 5.5%. In Asia, the Nikkei 225 closed down more than 17%, while the Hang Seng Index was down nearly 20%. Shares in Hong Kong and China had their worst year since 2008 as concerns about a hard economic landing in China have deepened. On Wednesday, spot gold hit its lowest level in nearly six months, dropping to $1,523, after sliding lower for five days straight days, its longest slump since October 2009. The yellow metal perked up a bit through Friday, closing the week around $1,565. Gold's weakness was blamed on liquidation following steep declines in the euro, prompted by thorny Italian bond auctions and deepening pessimism about Europe's debt crisis. EUR/USD closed out the year only a little lower than where it began last January, around 1.3000. Lawyers are currently drafting a new European "fiscal compact," and all but one of the EU's 27 members will start thrashing out the details at another round of summit meetings early next year. Meanwhile traders are waiting for the major ratings agencies to follow through on their threats to downgrade any number of euro zone member states, most notably France. In the US, there were glints of improvement in regional manufacturing reports for December from the Richmond and Dallas Federal Reserve Banks this week: headline numbers in both were weaker than expected, although the key new orders components showed big sequential gains. The jobless claims numbers sustained the improved results seen in the last few weeks, with the four-week average now at its lowest level since summer of 2008. The Pending Home Sales data showed that the number of Americans who signed contracts to buy homes in November rose to the highest level in a year and a half. Front month WTI crude pivoted around the $100 handle as Iran rattled sabers in the Straight of Hormuz. For the week the DJIA dipped 0.6%, the NASDAQ slipped 0.5%, and the S&P 500 lost 0.6%. For the year the S&P500 ended virtually unchanged.

- There was little in the way of major equity stories this week. Shares of Sears Holding lost nearly 30% of their value after the firm offered a disastrous view of its quarter-to-date comps (down 5.2%) and said EBITDA in the quarter would be less than half of the year-ago amount. Analysts noted that over the last six years, the firm had spent approximately $6 billion buying back shares - compared to capital expenditures of just $3.2 billion over the same period. Computer Sciences Corporation withdrew its FY12 guidance on Wednesday after the UK government's National Health Service revised a contract with the firm and teed up a potential $1.5B impairment. Shares of CSC were down 10% on the week.

- Fixed income markets saw continued moves into ultra-safe havens heading into the new year. For the year, the yield on the US 10-year treasury saw biggest annual drop since 2008, confirming its status as one of the safest of safe havens from the European debt crisis. All-in-all, the 10-year UST returned about 17% for the year, compared to about 10% on German bunds. UK gilt yields declined to all-time lows, with the yield on the 10-year gilt closing below 1.95% on Friday after moving below 2% for the first time in history last week.

- FX trading was subdued through the first half of the week, although the usual concerns about Europe were never far from the surface. Daily deposits at the ECB hit record levels as banks continued to hoard cash. EUR/USD maintained a tight range around the 1.3070 area during the early part of the week, while the absence of disasters in the Italian auctions did little to inspire participants to make any directional bets. By midweek the euro began weakening on a confluence of factors, including jitters reflected in the longer-term yields seen in Italy's the 10-year BTP yield, which were still within striking distance of 7.00% and a disastrous Hungarian debt auction. On Thursday morning, EUR/USD declined sharply and retested its 2011 lows of 1.2858, although it closed out the week slightly higher.

- In the new year, traders will be eagerly waiting for the major ratings agencies to follow through with downgrades of sovereign issuers in the euro zone. Another thing to watch will be the overall range for EUR/USD in the first month of the year. The pair's January trading range has historically indicated the high and the low for EUR/USD for the remainder of the trading year; this phenomenon has held good in nine of the first 12 years of the euro - including 2011 - since the launch of the single currency in 1999.

- The yen strengthened against its major pairs as the week progressed, with dealers citing the release on Thursday of the US Treasury report on currencies as a factor. The report criticized Japan for currency interventions and called on Noda's government to concentrate on improving the dynamism of Japan's domestic economy. In the wake of the report, EUR/JPY tested below the 100.00 level for the first time since June 2001.

- The Chinese Yuan gained 4.7% against the greenback in 2011, compared to a gain of 3.6% in the 2010 period. CNY closed out the year at 6.2940 to the dollar on Friday, marking its first sub-6.30 close since 1993. The Treasury's semiannual currency report called this "insufficient" progress, but again declined to name China as a currency manipulator, electing instead to reiterate that the yuan remains substantially undervalued. Goldman Sachs warned that its outlook on the BRIC countries has become more cautions, amid concerns about capital outflows. In a comment on Friday, the Chinese Commerce Ministry warned that the 2012 outlook for foreign direct investment is not optimistic.


TradeTheNews

Dec 30 2011

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

Wanted to finish a year on a profitable note and did, however light trading was. Happy New Year everyone!

Session Time: Fri Dec 30 00:00:00 2011

[09:17] {Threei}  (DE) Germany lawmaker Hans Michelbach said Greece's privatization plan is not enough - US financial press- Said the EU should assume responsibility for the privatizations. - Said Greece has to make sure that its partners do not lose patience for good, as European partners are still willing to show solidarity. - Michelbach is a member of Chancellor Merkel's center-right coalition.
[09:24] {rambler} morning 
[09:24] {Threei}  rambler :)
[09:24] {RonS} gm...early close today?
[09:25] {Threei}  hmm
[09:25] {Threei}  not that I know of
[09:25] {Threei}  but I've got a good one for the open:
[09:25] {Threei}  the only real truth in finance comes from a subpoena
[09:26] {Threei}  and
[09:26] {Threei}  if anyone ever asks you to join a currency union where you�re required to use a currency you can�t issue, politely say no and get the f*ck out of there.
[09:27] {rambler} amen....
[09:28] {Threei}  I still an hardly believe my eyes when read this:
[09:28] {Threei}  (DE) Germany lawmaker Hans Michelbach said Greece's privatization plan is not enough - US financial press
[09:28] {Threei}  - Said the EU should assume responsibility for the privatizations.
[09:29] {Threei}  IMF Q3 currency reserve report: euro global reserves share fell to 25.7%, dollar global reserve share rose to 61.7%
[09:30] {Threei}  German coalition govt member suggests there should be a non-voluntary mechanism for removing a nation from the EMU - German press
[09:30] {Threei} Short Setup: FCX  .65 brek half lot
[09:30] {Threei}  if stays under .75
[09:31] {Threei}  recalibrate.75 break
[09:32] {Threei}  too fast
[09:32] {Threei}  got away eh
[09:32] {cipher} sure did
[09:32] {Threei}  ,65 break again
[09:33] {Threei}  valid trigger
[09:33] {Threei}  same .75 stop/invalidation
[09:33] {Threei} Short Setup: GLD  .90 break smaller shares
[09:34] {Threei}  stop above .05
[09:34] {Threei}  FCX not clear, waiting
[09:35] {Threei}  no go GLD
[09:36] {Threei} Short Setup: FCX  .90 break
[09:36] {Threei}  if stays under 37
[09:38] {Threei}  let's trail to .96
[09:38] {Threei}  want to keep it tight
[09:40] {Threei} Short Setup: SLW  .15 break
[09:44] {Threei}  1:1
[09:45] {Threei}  SLW is .25 stop still but trail to .21 if loses .10
[09:46] {cipher} ibm l .82
[09:47] {Threei}  stop to .21 SLW
[09:48] {ese} mornin
[09:48] {Threei}  ese :)
[09:49] {ese} vad
[09:49] {Threei} Long Setup:  FCX  37 break
[09:49] {ese} in
[09:50] {ese} .00
[09:50] {thomcbell} vad was that a stop and reverse on fcx?
[09:50] {Threei}  stop?
[09:50] {Threei}  it hit 1:1
[09:50] {cipher} out ibm 00 +.18
[09:51] {Threei}  etiegre you take scalp there or, half and trail to b/e
[09:51] {thomcbell} ok gotcha 
[09:51] {Threei}  in any case you wouldn't be in it short long ago
[09:54] {Threei}  let's do unusual thing here: stop to .04
[09:54] {Threei}  if big bid at .05 is taken out I want to be out
[09:55] {Threei}  unusual marjket calls for unusual approach
[09:56] {Threei}  out
[09:56] {cipher} out
[09:56] {cipher} got 05 thx
[09:56] {Threei}  let it struggle without us
[10:00] {ese} 1/2 out here .11 +.11 fcx
[10:00] {ese} tks vad
[10:00] {Threei}  yw
[10:00] {ese} helps a groggy brain get on track
[10:00] {Threei}  nemo would suggest a shot of vodka for that but that's nemo
[10:01] {cipher} l ibm .12
[10:01] {Threei}  stop under 106?
[10:02] {ese} nnah...this groggy is just from being tired.....unlike yesterday.....although come to think of it......yesterday the vodka may have worked
[10:02] {Threei}  target seems to be about .35 - .40 on this entry, with partials around .25
[10:03] {ese} fcx stop to .10
[10:03] {cipher} ibm 1/2 out .25 +.13
[10:03] {Threei} Long Setup:  MCD  .40 break
[10:03] {ese} good one ciber
[10:04] {cipher} ty
[10:06] {ese} fcx stopped .10 +.10 on balance
[10:06] {cipher} out rest ibm .20 +.08
[10:06] {Threei}  SPY suddent dive
[10:07] {Threei}  no news
[10:10] {Threei}  MCD is holding like champ
[10:10] {Threei}  but let's trail to .34
[10:10] {Threei}  market weakens more
[10:11] {Threei}  target's 1:2
[10:12] {Threei}  1:1
06[10:13] * Threei kicks MCD in its oversized butt
[10:20] {Threei} Long Setup:  TZA  .15 break if stays above .05
[10:25] {Threei}  MCD as a salmon? who would have thought
[10:25] {Threei}  yet here it is, flapping its fin right in our face
[10:33] {Threei}  GM recalls 4,873 Chevrolet Sonic subcompact cars in US and Canada for possible missing front brake pads
[10:33] {Threei}  seriously?
[10:35] {pragmatic} sounds like a joke
[10:35] {Threei}  yeah - GM is a joke
[10:36] {ese} thats really funny
[10:36] {ese} cause it could be true
[10:36] {Threei}  it is
[10:36] {Threei}  it's actual news
[10:37] {ese} missing brake pads!!!!!!!!!!!........holy flippin doodle
[10:38] {Threei}  the day we see a headline that GM supplied cars without steering wheel will be the day I'll say: NOW I've seen it all
[10:38] {cipher} c'mon cut them a little slack... they still had rear ones :-)
[10:39] {Threei}  ever the optimist, eh? :)
[10:39] {Threei}  glass half full, lol
[10:39] {cipher} that's what happens when the gov't takes over a public company
[10:39] {Threei}  MCD 1:2 is close enohgh
[10:40] {Threei}  I am out
[10:43] {cipher} is TZA invalidated?
[10:44] {Threei}  it is but may reestablish itself
[10:44] {Threei}  watching
[10:44] {Threei}  these sudden jerky moves with no news...
[10:54] {Threei}  can you believe MCD?
[10:55] {cipher} wow
[11:05] {Threei} Short Setup: RIMM  .35 break
[11:06] {Threei}  (EU) Germany Chancellor Merkel: 2012 likely to be more difficult than 2011; Europe is facing its toughest test in decades, Germany will do whatever it can to strengthen the euro- The euro can only succeed if there is greater cooperation in Europe.
[11:08] {pragmatic} hmm, I though they wanted to go back to their own currency
[11:09] {Threei}  who?
[11:09] {pragmatic} Germany
[11:09] {Threei}  germany? no, not really
[11:10] {Threei}  countires that are heavy in debt want their currency since it gives them control over printing
[11:11] {Threei}  Germany is the one that loaned a lot of money, they want to keep control over the currency in which debt is denominated
[11:12] {pragmatic} that makes sense
[11:21] {ese} what time does the mrkt close today?
[11:22] {Threei}  as usual
[11:22] {Threei}  unless we decide otherwise
[11:23] {ese} lol
[11:23] {Threei}  monday is day off
[11:28] {Threei}  well RIMM
[11:29] {Threei}  will you or will you now
[11:29] {Threei}  not
06[11:48] * Threei puts a blinfold on RIMM's eyes, walks it to the edge and pushes down
[11:48] {rambler} stubborn....
[11:48] {Threei}  you mean RIMM? or me? :)
[11:49] {rambler} maybe both...
[11:49] {Threei}  lol
[11:49] {Threei}  let's see who outstubborns whom
[11:52] {rambler} SLW at 29 even...
[12:02] {cipher} rimm news?
[12:02] {Threei}  no
[12:02] {RonS} there was some shocking news...
[12:02] {Threei}  - NYSE volume 160M shares, about 52% below its three-month average; advancers lead decliners by 1.5:1. - NASDAQ volume 355M shares, about 53% below its three-month average; advancers lead decliners by 1.1:1.
[12:03] {RonS} report saying they are losing market share...
[12:04] {Threei}  lol
[12:38] {rambler} got to run...cya tuesday....
[12:38] {Threei}  Happy New Year rambler
[13:15] {Threei}  is market open?
[13:19] {pragmatic} what do you mean ?
[13:19] {pragmatic} L2 is refreshing, quotes are updating
[13:19] {Threei}  never mind...
[13:19] {RonS} lol
[13:20] {RonS} now we know why pragmatic...
06[13:20] * pragmatic :)
[13:21] {Threei}  posted series of the photos, "most... of 2011"
[13:21] {Threei}  http://www.facebook.com/vadym.graifer
[13:21] {pragmatic} that is why stock is not moving....
[13:27] {cipher} Vad do I need to be your friend to see the pics?
[13:30] {RonS} no, just his buddy....
[13:31] {Threei}  hmmm
[13:31] {Threei}  they should be public
[13:32] {Threei}  anyway, I will post expanded version on my photoblog
[13:32] {pragmatic} GLD dropped
[13:33] {cipher} I don'd mind being his buddy... it's just I don't do facebook 
[13:34] {Threei}  lucky you
[13:34] {Threei}  I wad dragged in kicking and screaming
[13:40] {cipher} trust me, I've been resisting despite tremendous pressure from all my friends and acquaintances...
[13:46] {Threei}  only business requirements made me do it
[13:46] {Threei}  ok
[13:46] {Threei}  http://photography.realitytrader.com/2011/12/most-of-2011.html
[13:48] {ese} i'm not away L zagg .16
[13:53] {cipher} very nice pics...
[13:53] {cipher} where was the polar bear taken?
[13:53] {Threei}  in the zoo :)
[13:54] {cipher} lol
[13:58] {Threei}  as far as I am concerned, facebook is not too bad
[13:58] {Threei}  you can do it on your own terms
[13:59] {Threei}  twitter is worst offender of sanity I could possibly think of
[13:59] {Threei}  I hate the darn thing passionately
[13:59] {cipher} I may cave in under an alias :-)
[13:59] {Threei}  if you feel the need...
[14:00] {Threei}  twitter is embodiment of superficial fleeting skin-deep thinking
[14:01] {Threei}  everything is valuable as long as it's "right now," brief, not tltr
[14:01] {Threei}  my most hated acronym of socil media age: TLTR
[14:01] {Threei}  too long to read
[14:03] {Threei}  people feel as though they exist only when they say something
[14:03] {Threei}  so they say somwthing
[14:03] {Threei}  but OK... I showed my grumpy face enough for you to know that photo came from :)
[14:04] {Threei}  I did very severe cull of twitters to get rid of endless stream of posts like:
[14:05] {Threei}  "ummm... pastries in such-and-such shopp!"
[14:05] {Threei}  "Diane made soup. MMMM!!"
[14:06] {Threei}  "Having tea in xxx with yyy"
[14:06] {Threei}  who the f*&$% cares???
[14:08] {Threei}  gave you a pause cipher? :)
[14:08] {cipher} no, I'm with you brother :-)
[14:08] {Threei}  as my kids used to say, kewl
[14:09] {cipher} same here, 2 teenagers in the house
[14:09] {Threei}  mine are over teen age already, thank goodness
[14:10] {cipher} at least for now till i don't kick them out, lol
[14:10] {Threei}  and what I am really proud of - neither is doing facebook or twitter
[14:10] {Threei}  I did something right about them :)
[14:10] {cipher} wow, how did you manage that?
[14:11] {Threei}  don't know
[14:18] {Threei}  if market continues down, we astill may get our RIMM trigger
[14:18] {Threei}  then there is FCX with .90 short trigger
[14:20] {Threei}  1:1
[14:36] {thomcbell} wow ibm 
[14:38] {ese} out zagg .33 +.17
[14:38] {ese} have a great weekend all and happy news to your all
[14:39] {ese} you all
[14:39] {Threei}  take cre ese, happy new year
[14:39] {Threei}  see you tuesday
[14:39] {ese} you to vad .....cya next week
[14:48] {Threei}  ok guys, let's leave this year in the past... hard to handle all his excitement
[14:48] {Threei}  I am pretty sure I don't want any more trades
[14:49] {Threei}  have a great relaxing lond weekend, see you in a new year
[14:49] {RonS} good weekend to all...

Thursday, December 29, 2011

Dec 29 2011

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



About flat day, with wins and stops canceling each other. Volume runs at about half of 3-month average.


Session Time: Thu Dec 29 00:00:00 2011
[09:13] {JK13} gm everyone
[09:13] {Threei}  morning jk
[09:14] {Threei}  see, I am careful with "good" part - reflex brought up by nemo
[09:14] {Threei}  he questions such claims as unfounded and unproven
[09:18] {Threei}  (LU) ECB's Mersch: Luxembourg could face structural imbalances without reforms- Must take part in collective efforts to ensure solid and lasting European Monetary Union
[09:18] {Threei}  hmmm
[09:19] {Threei}  if EU starts depending on Luxembour to remian solid and lasting...
[09:20] {Threei}  (IR) Iran military official responds to fifth fleet comments yesterday, notes that the US is not in a position to tell Iran what it can and cannot do with the Strait of Hormuz
[09:20] {Threei}  ***Reminder: Earlier reports indicated that the Iranian Navy had spotted a US aircraft carrier near the strait during its naval exercise
[09:26] {Threei}  SLW is still miserable
[09:26] {Threei}  and SPY looks like it's ready to resume yesterday's plunge
[09:27] {nemo} lotsa' support below (hiccup)
[09:27] {nemo} shot glasses just aren't big enough
[09:27] {Threei}  good... we will have what top break before plunging
[09:30] {Threei} Short Setup: FCX  .30 break half lot
[09:31] {Threei}  stop is exceedingly obvious
[09:31] {Threei} Short Setup: SLW  .95 break
[09:32] {Threei}  FCX 1:1
[09:32] {Threei}  1:2, out
[09:33] {Threei}  SLW stop is ridiculously tight, above 27
[09:33] {Threei}  but going to start taking profit near 1:2
[09:34] {Threei}  half out
[09:34] {Threei}  not trailing stop yet
[09:35] {Threei}  (US) Preview: Dec Chicago Purchasing Manager Index due out at 09:45ET (13:45 GMT)**Consensus expectation: 61.0e v 62.6 prior
[09:37] {Threei}  aim to cover second portion closer to .80
[09:39] {Threei}  Election 2012: Romney 45%, Obama 39%
[09:39] {rambler} morning all
[09:39] {Threei}  rambler :)
[09:41] {Threei}  SLW closed for a wash
[09:43] {Threei} Short Setup: PHH  .95 break
[09:43] {Threei} Short Setup: WDC  .60 half lot
[09:44] {Threei}  *(US) DEC CHICAGO PURCHASING MANAGER: 62.5 V 61.0E
[09:44] {Threei}  WDC invalidated
[09:48] {Threei}  let's recalibrate WDC
[09:48] {Threei}  .65 break if stays under .75
[09:48] {nemo} I"m recalibrating with Grey Goose
[09:49] {Threei}  .60 is still main floor but aggressive entry looks the best options
06[09:52] * Threei sends a bottle of Russian Standard to nemo, to wash down that Grey Goose
[09:52] {nemo} that's disgusting
[09:53] {Threei}  let's recalibrate PHH - 10 break if stays under .05
[09:54] {Threei}  invalidated
[09:54] {Threei} Short Setup: LVS  .25 break
[09:55] {Threei}  if stays under .35
[09:55] {Threei}  not a scalp
[09:55] {Threei}  this one is rwady for serius plunge
[09:57] {nemo} "rwady"  that's Arabic for something
[09:58] {Threei}  WDC 1:1
[09:58] {Threei}  half out
[09:59] {Threei}  LVS first part out
[09:59] {Threei}  .12
[09:59] {Threei}  *(US) NOV PENDING HOME SALES M/M: 7.3% V 1.5%E; Y/Y: 6.9% V 7.3% PRIOR
[09:59] {Threei}  stop .31 LVS
[09:59] {Threei}  stop .66 WDC
[10:03] {Threei}  what's with stats... 7.3% V 1.5%E?
[10:03] {nemo} wait until next month
[10:03] {Threei}  if anything it tells me those who create expectation numbers are dishonest or incompetent
[10:04] {Threei}  closed WDC
[10:04] {nemo} yeah...I just watch the charts
[10:05] {Threei}  and LVS
[10:05] {Threei} Short Setup: SLW  .10 break
[10:06] {Threei}  what the deuce SPY
[10:07] {Threei}  no go SLW
[10:08] {thomcbell} not enuf selling pressure so it goes up 
[10:08] {nemo} .75 next test for spy
[10:09] {thomcbell} 125.82
[10:09] {thomcbell} is the A up Vad
[10:09] {Threei}  ?
[10:10] {nemo} ?
[10:10] {thomcbell} Mark Fisher opening range trigger
[10:10] {nemo} oy vay
[10:10] {Threei}  I have zero idea what you are talking about
[10:10] {nemo} I need another shot
[10:10] {thomcbell} ok - i thought u knew the language
[10:11] {thomcbell} A up through the pivot 
[10:11] {thomcbell} forget it 
[10:11] {Threei}  ummm... do you know how many indicators, setups, studies and authors of those are there?
[10:11] {nemo} As many as there are assholes in Congress?
[10:11] {Threei}  must more
[10:12] {Threei}  literally - tens of thousands, with hundreds new ones being invented monthly
[10:12] {thomcbell} not part of our m.o. here 
[10:12] {Threei}  to learn them all would be a full time job for a team of 10
[10:12] {nemo} Wow...that's a quick retraction
[10:13] {nemo} you running for office?
[10:20] {Threei} Short Setup: MON  70 break half lot
[10:20] {Threei}  invalidated
[10:29] {Threei}  (EU) PIMCO's Crescenzi: Investors should stay away from sovereign debt in Europe; ECB unlikely to conduct Fed style QE
[10:30] {Threei}  - NYSE volume 90M shares, about 52% below its three-month average; advancers lead decliners by 3.2:1. - NASDAQ volume 185M shares, about 53% below its three-month average; advancers lead decliners by 2.5:1.
[10:30] {Threei}  that's why we have these spikes
[10:31] {cipher} took MON long on break of .43
[10:32] {cipher} already out
[10:32] {cipher} had to force myself to pull the trigger :-)
[10:32] {Threei}  hehe
[10:32] {Threei}  good job
[10:32] {cipher} normally I only short this dog
[10:32] {Threei}  it's just three letters
[10:33] {Threei}  don't assign any meaning to them
[10:33] {Threei}  know the difference between MON and RIMM?
[10:33] {cipher} i know, can't help it
[10:33] {cipher} 1 letter :-)
[10:33] {Threei}  right
[10:34] {Threei}  "but those are different companies!"
[10:34] {Threei}  "hmm... you mean there are actual companies behind those symbols???"
[10:34] {cipher} lol
[10:38] {cipher} ibm sudden drop 
[10:39] {nemo} 126.10 or so 200 SMA or spy
[10:40] {cipher} +.15 ibm scalp
[10:49] {cipher} mon looks to be topping here
[10:50] {thomcbell} vad - how about lvs back above 43 and shorting it back thru 42.99 
[10:50] {Threei}  if SPY can't get to the high, it may not even go above 43
[10:50] {Threei}  but I like the idea
[10:51] {cipher} s mon .70
[10:51] {cipher} tight stop .75 
[10:52] {thomcbell} meanwhile qcom looks decent on the 1 minute here 
[10:54] {Threei}  I hate it wholeheartedly
[10:54] {Threei}  will watch but won't trade
[10:56] {ese} late morning
[10:56] {Threei}  ese :)
[10:56] {cipher} s ibm .84
[10:56] {ese} ok......i'll come clean....there was some drinking goin on last night.......
[10:57] {Threei}  ahhh
[10:57] {ese} at the neighbors......
[10:57] {ese} next door
[10:57] {ese} arrival time at home was approx 2 am
[10:58] {ese} I think
[10:59] {ese} and when you type......i'd appreciate it if you didn't hit the keys too hard
[10:59] {Threei}  lol
[10:59] {ese} ahhhhhhhhhh....sorry thats me
[11:01] {ese} miracle drug of choice this morning is ibuprofin............it hasn't kicked in yet
[11:08] {cipher} spy cooperating
[11:09] {Threei}  I have to ask again: what the deuce?
[11:12] {cipher} covered 1/2 mon .45 +.25
[11:12] {ese} well...........it's a card........you can play crib with it ...or poker .......or crazzy eights.....
[11:12] {Threei}  wtg
[11:13] {cipher} covered 1/2 ibm .63 +.21
[11:13] {ese} c.......good job
[11:13] {Threei}  no news for this quite sharp drop
[11:14] {ese} i see nothin
[11:14] {cipher} out mon in full +.30
[11:14] {Threei}  good ones
[11:15] {cipher} out rest ibm +.21
[11:15] {cipher} spy helped :-)
[11:15] {Threei}  sure did
[11:21] {Threei}  QCOM once again confirmed my reasins to dislike it severely
[11:23] {cipher} kicking myself...shorted gld on break of 149.40 - only took a scalp
[11:25] {cipher} gld seems to trending down lately
[11:29] {thomcbell} bt was that a failed cup and handle on the 1 minute on qcom ?
[11:29] {thomcbell} nice 0.30 cents trade
[11:39] {Threei}  market feels totally disconnected today
[11:40] {Threei}  now, look who just had an epiphany
[11:40] {Threei}  (EU) EU's Juncker: Without further reductions in debt and fiscal consolidation, Europe faces catastrophe
[11:40] {Threei}  (EU) ECB's Lipstok: No nation would benefit leaving the EMU; reiterates the ECB will not become the lender of last resort- Reiterates the ECB bond buying program is temporary and limited
[11:46] {Threei} Long Setup:  GLD  .85 smaller shares
[11:46] {Threei}  if stays above .75
[11:50] {Threei}  1:1
[11:51] {Threei}  1:2
[11:51] {Threei}  out
[11:52] {cipher} wtg
[11:55] {Threei}  wow... talk about selling too soon
[11:55] {Threei}  grr
[11:55] {Threei}  leaned on "nimble" side a bit too much :)
[11:57] {cipher} plus the time of day as you always say...
[12:04] {Threei}  ok, I am going to strangle myself now, wait for me
[12:08] {Threei}  back
[12:16] {Threei} Short Setup: LVS  .80 break
[12:16] {Threei}  most likelt just a scalp
[12:17] {Threei} Short Setup: IBM  .60 break
[12:17] {Threei}  smaller shares
[12:29] {Threei}  IBM 1:1
[12:29] {Threei}  friking LVS rinsed
[12:34] {Threei}  fence-sitters and procrastinators, just a reminder that you have just two days for the course coupon
[12:39] {Threei}  market is closed on Monday Jan 2
[12:43] {Threei}  Water powered LED shower head?
[12:43] {Threei}  OK, we ARE in crisis
[13:02] {Threei}  another no-news spike
[13:16] {ese} no....not away......just passing out in my chair......just heavy drinking night taking it's toll....
[13:16] {Threei}  lol
[13:16] {ese} last night
[13:16] {Threei}  you saw the part of time window running out on a course coupon?
[13:17] {ese} yes
[13:18] {ese} will do that course at some time.......just haven't figured out when
[14:06] {JK13} spy  breaking out?
[14:06] {Threei}  trying...
[14:06] {Threei}  whether it's going to suceed or fail, anyone's guess
[14:07] {JK13} how about the volume overall
[14:07] {Threei}  volume is about 45-50% below three month average
[14:07] {JK13} this spike probably has to do with the dividend distribution tomorrow?
[14:08] {Threei}  this is one guess out of 25 possible :)
[15:01] {Threei}  lol:
[15:01] {Threei}  "With the possible exception of Bank of America, there is no such thing as a leaderless organization"
[15:06] {Threei}  let's make up our mind
[15:06] {Threei}  126 break - run or fail?
[15:06] {Threei}  anyone got an opinion?
[15:06] {RonS} bet fail here...
[15:07] {Threei}  I feel so too but I've been so bearish lately, I am not even sure anymore where it's a read and where it's a bias :)
[15:08] {Threei}  so, I have both TNA and TZA on the screen
[15:08] {Threei}  and trying to decide which one to take and when
[15:09] {Threei}  (IR) US State Dept Spokesperson: Iran is displaying irrational behavior in threatening to close the Strait of Hormuz- Sanctions against Iran are beginning to impact the country more deeply.
[15:09] {rambler} SLW getting some action
[15:09] {Threei}  heh... on top of everything else, we might get a military conflict over the weekend?
[15:10] {Threei}  ok, if this is a trap for longs, aka false breakout:
[15:11] {Threei} Long Setup:  TZA  .10 break
[15:11] {Threei}  if stays above 26 of course,
[15:11] {Threei}  and if goes under 26 will look for another setup
[15:13] {Threei}  let's see if ron is correct...
[15:14] {Threei}  if this tarde fails it's his fault
[15:19] {Threei}  nailbiter... held by fingertips
[15:23] {rambler} got a 1/2 scalp
[15:24] {Threei}  :)
[15:35] {ese} zzzzzzzzzzzzzzzzzzzzzzzzzzzort.....skinifffffff...glurp......ahhhh  hemmmmmmmmzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz
[15:35] {Threei}  lol
[15:36] {ese} i'm outta here.......been fun sleeping for you all..cya tomorrow
[15:36] {Threei}  take care ese
[15:37] {ese} cya vad
[15:37] {rambler} cya ese
[15:37] {ese} ram...cya
[15:37] {JK13} gn
[15:54] {Threei}  ok... about flat day, nothing to write home about
[15:54] {Threei}  thank you all, have a good evning
[15:55] {Threei}  see you tomorrow for the last trading session of the year
[15:55] {rambler} see ya tomorrow