Feb 12 2010

Most of the day was boring as traders were not ready to commit in advance of long weekend. As it's often the case on such days, we had enormous number of invalidated trades - those that don't trigger a setup. Highlights of the day were finishing swing trade on CY $11 break from yesterday for a nice gain and cool NTES short into good news; look the details at http://caracommunity.com/content/bill-cara%E2%80%99s-blog-february-12-2010#comment-57277. Nice to finish the week with no single losing day.

Session Time: Fri Feb 12 00:00:00 2010

[08:22] {Les} what's with the rerun of yesterday's blog

[08:22] {nemo} ?

[08:23] {Les} the chat of the closing minutes from yesterday are still present

[08:23] {Les} GM

06[08:23] * nemo slaps Les around a bit with a large trout

[08:24] {Les} relax man, its friday

06[08:24] * nemo slaps Les around a bit with a large trout

[08:24] {Les} :P

[08:36] {strider} out TM from yesterday, +.92

[08:36] {nemo} swm up 3

[08:38] {nemo} saw something interesting on SWM yesterday...run a fibonacci retracement from the high just before the drop to the low

[08:41] {Les} nice one strider

[08:42] {Les} fibonacci what?

[08:42] {nemo} retracement

[08:43] {Les} whatever. where's vad, he out of bed yet?

[08:43] {strider} that's when you lie about eating the last of the nachos.

[08:43] {nemo} yeah...he just doesn't want to talk to you

06[08:43] * nemo slaps strider around a bit with a large trout

[08:43] {strider} thanks, les.

06[08:45] * strider slaps nemo around a bit with a large coupon book for discounts at the fish market.

[08:47] {Les} haha good one

[08:50] {nemo} oh yeah...nice

[08:53] {dino} gm all

[08:53] {nemo} rimm going cat today

[08:53] {dino} gj strider

[08:54] {dino} so nemo, on your fib what did you get?

[08:55] {nemo} once the bottom was in, it pivoted aroud the 23.6 retracement

[08:55] {strider} thanks, dino.

[08:56] {dino} np

[08:56] {strider} AMZN flirting with huge gap on daily.

[08:56] {nemo} another interesting thing, never quite made it back to the vwap

[08:56] {dino} nemo, a # please (like pulling teeth)

[08:57] {nemo} vwap is a trend line

[08:57] {nemo} just under 48 is the 23.6 retracement

[08:57] {dino} ty

[08:58] {nemo} oh another interesting thing...this morning's high corresponded with the 38.2 retracement

06[08:58] * strider slaps nemo around a bit with a large book of Techniques of Tape Reading

[08:58] {nemo} Anyway...ignoring the hillbilly

[08:58] {strider} my mistake....wrong weapon.

[08:58] {Threei} (US) PIMCO's El-Erian: US is not comparable with Greece; outsiders need to come in to oversee Greece financial management - CNBC

[08:58] {Threei} - Notes the US has elements that are like Greece.

[08:58] {Threei} - PIMCO is underweight US mortgages.

[08:58] {Threei} - Looking at Canadian bonds.

[08:58] {Threei} - Believes that the sooner the EU bring in the IMF as a coordinator for the Greek situation, the better it is for Europe.

[08:58] {nemo} yep...rimm going cat

[08:59] {nemo} Just thinking...knowing that's dangerous

[08:59] {dino} bweld blood

[08:59] {dino} bwld

[09:00] {dino} cml, ir too

[09:01] {dino} htgc

[09:07] {fernp} Good morning everybody

[09:08] {strider} fern:)

[09:08] {Threei} fern :)

[09:19] {Threei} Yamaha Motor Plans to transfer ATV production to US from Japan, expects to complete transfer by 2013

[09:19] {Threei} not something tradeable but I din't think we see moving production TO USA all too often

[09:21] {strider} My current job is assisting a small furniture company in moving production back to US from China......

[09:21] {dino} swm gave it back

[09:21] {Threei} SWM Goldman Sachs Cuts SWM to Neutral from Buy

[09:21] {Threei} - Removed from Americas Conviction Buy List

[09:22] {Threei} hopwefully it's a new trend and not just an isolated case

[09:23] {strider} There are lots of companies wanting to do that (furniture). They put up with a lot of crap in return for low prices from China.

[09:23] {dino} value added research, thank goldman, sheesh

[09:23] {Threei} lol dino

[09:26] {larisa} gm :)

[09:27] {Threei} larisa :)

[09:27] {larisa} vad :)

[09:27] {nemo} lari :)

[09:28] {larisa} nemo :)

[09:29] {lasertrev} morning

[09:29] {Threei} trev :)

[09:30] {billyc} gm all happy Friday

[09:30] {Threei} Short Setup: WFC .75 break of stays under .85

[09:31] {Threei} billy :)

[09:32] {dino} nile

[09:32] {Threei} invalidated, looking for aggessive entry instead

[09:35] {Les} fitb southbound

[09:35] {nemo} Allman Brothers

[09:35] {Threei} DNDN

[09:37] {Threei} WFC didn't gave much indication

[09:37] {Les} jumped straight over my .99 trigger

[09:38] {strider} scaalped .02 to .92

[09:39] {Threei} grrr

[09:40] {Threei} hate it... right iodea, no poractical implementation

[09:40] {Les} s fitb .58

[09:40] {Threei} (US) Preview: Feb Preliminary University of Michigan Confidence due out at 09:55ET

[09:40] {Threei} **consensus expectation: 75.0e v 74.4 prior (estimates range between 70 to 78)

[09:40] {Threei} **note: the Jan Final reading of 74.4 was the highest reading since Jan 2008.

[09:42] {Threei} bounce scalp play WFC, .64 long if holding above .55

[09:43] {ese} morning...... sorry i'm late

[09:43] {Threei} ese :)

[09:43] {ese} nemo you filthy stinking rich yet?

[09:43] {nemo} detention for you

[09:43] {nemo} no

[09:44] {Les} 4 trades already this morning ese, all big winners!!!!!

[09:44] {ese} right on!!!! you or nemo?

[09:44] {Les} :D trust me

[09:44] {dino} htgc sm l .25

[09:44] {ese} ahhhhhhhhhh

[09:45] {Threei} invakidated

[09:45] {nemo} greek?

[09:45] {Les} vad's getting ready to invest in greek markets

[09:45] {dino} gj

[09:46] {nemo} aig went momo

[09:49] {Threei} Long Setup: CGNX .95 break half lot

[09:49] {dino} cml sm l .72

[09:49] {nemo} dino stock

[09:49] {Threei} if holding above .80

[09:50] {dino} news cgnx?

[09:50] {Threei} earnings

[09:50] {Threei} beat them to a pulp

[09:50] {larisa} 50k volume? one trade for ese :)

[09:50] {dino} ahh

[09:50] {Threei} lol

[09:51] {strider} short WFC .54

[09:52] {ese} hey laris....what am i lookin at

[09:53] {ese} ws looking at hitting atpg for 5k

[09:53] {larisa} :)

[09:53] {ese} but realized too risky

[09:53] {ese} not enough volume to handle it

[09:53] {Threei} better wait for pullback on that one

[09:54] {Threei} 70 cents straight up

[09:54] {ese} definitely

[09:54] {ese} ya

[09:54] {Threei} there you go

[09:54] {billyc} thanks for cml dino

[09:55] {ese} started looking at it .60/.70 no place to get in

[09:55] {Threei} US) FEB PRELIMINARY UNIVERSITY OF MICHIGAN CONFIDENCE: 73.7 V 75.0E

[09:55] {Threei} .40 break was the only valid trade

[09:55] {strider} stop WFC

[09:55] {Threei} ever since then, no setup

[09:56] {dino} this crazy market wants to fill the open gaps, gut talk

[09:56] {ese} cake same thing

[09:56] {Les} took fitb to fill hole made by wfc. finnies indecisive

[09:56] {dino} out htgc .79, +.54

[09:56] {Threei} US) Preview: Dec Business Inventories due out at 10:00ET

[09:56] {Threei} **consensus expectation: 0.2%e v 0.4% prior

[09:57] {ese} lots to choose from but no place to get in

[09:59] {Threei} Long Setup: TM .50 break half lot

[10:00] {Threei} *(US) DEC BUSINESS INVENTORIES: -0.2% V 0.2%E

[10:00] {nemo} invalidate vad?

[10:00] {Threei} yeah

[10:00] {Threei} is it because of long weekend ahead?

[10:01] {Threei} everything gets invalidated

[10:01] {Les} really no market monday?

[10:01] {nemo} I saw two setups there

[10:01] {Threei} come on CGNX, take that 19

[10:01] {Threei} no Les

[10:01] {nemo} long on volume break above .50 or short on the DT declining volume

[10:01] {Threei} ese, make sure you don't try to trade on Monday :)

[10:02] {Threei} we canucks are not very aware of their strange holidays :)

[10:03] {Les} NTGR trying to reclaim lost ground

[10:04] {Threei} no go

[10:04] {ese} ok....will do

[10:04] {fernp} yes, stopped

[10:04] {Les} finnies testing support. wfc fitb

[10:08] {nemo} so, markets gaveth yesterday and took away today

[10:08] {Threei} I am still in bear camp

[10:08] {Threei} overall I mean

[10:08] {Les} yeh, so I see a gap down opening and a wandering rudderless market

[10:09] {Les} won't be sucked in today

[10:09] {Threei} IMO, uptrend is broken

[10:09] {ese} L leap .80

[10:09] {Threei} Philadelphia Fed Survey: US Economy to grow at 2.7% annual rate over next 5 quarters

[10:10] {Threei} - Sees unemployment at 9.8% in 2010, 9.2% in 2011, 8.3% in 2010, 7.3% in 2013

[10:10] {Threei} Preview: DOE (EIA) Petroleum Inventories due at 11:00ET

[10:10] {Threei} **consensus expectations:

[10:10] {Threei} Crude: +1.4Me

[10:10] {Threei} Gasoline: +200Ke

[10:10] {Threei} Distillate: -1.7Me

[10:11] {nemo} that should drive up the price of oil

[10:13] {dino} ups sm l .00

[10:14] {fernp} ERTS holding on highs

[10:14] {fernp} ERTS any read, Vad?

[10:14] {Les} ntgr failed to break resistance.

[10:15] {Threei} hard to tell fern

[10:15] {fernp} ok ty

[10:15] {ese} out leap .84 +.04

[10:16] {nemo} yep, rimm gone cat

[10:17] {ese} ok i'll come clean.........i didn't know that i had bought that one.......had it cued up but thought that i nixed it....pressed the wrong button.......bull chit luck

[10:18] {nemo} Qs at the 200 ma

[10:19] {dino} been there

[10:20] {nemo} rimm motorized salmon

[10:21] {Threei} lol

[10:23] {dino} bgc sm l .60

[10:23] {dino} too soon

[10:25] {dino} stopped -.31

[10:25] {nemo} quicky

[10:25] {dino} retest coming imop

[10:25] {dino} imo]

[10:25] {dino} imo

[10:25] {nemo} vad jr

[10:26] {dino} darn

[10:27] {nemo} got a bit lower to go

[10:28] {nemo} too funny just did the fib thing again, popped up to the 23.9 level ($25) then backed off

[10:28] {nemo} 23.6 level

[10:30] {nemo} market working against bgc today though, unlike yesterday for swm

[10:32] {nemo} 24.22 bottom support, that hammer candle was the wile. e. coyote moment

[10:32] {dino} acme products

[10:32] {nemo} no BGC :)

[10:32] {nemo} I miss those cartoons

[10:32] {nemo} where's my teddy

[10:32] {nemo} bear that is

[10:33] {nemo} now we'll see

[10:33] {dino} bgc get ready

[10:33] {nemo} yep

[10:33] {dino} sm l .16

[10:34] {nemo} ballsy

[10:34] {Threei} what slim pickings today

[10:34] {nemo} in .20

[10:34] {nemo} small

[10:34] {dino} boone pickens i think

[10:35] {Threei} lol

[10:35] {dino} strider, you watching survivor?

[10:35] {nemo} wath the frickin stock

[10:35] {dino} out .60

[10:35] {Threei} nice one

[10:35] {dino} +.44

[10:36] {dino} thx

[10:36] {nemo} ty

[10:36] {dino} you out ?

[10:36] {nemo} yes .58

[10:36] {dino} gj

[10:36] {nemo} look for C&H break on this

[10:37] {nemo} should hold .35

[10:38] {nemo} oops

[10:38] {Threei} Market Internals update at 10:30amET

[10:38] {Threei} - NYSE volume 220M shares, about 11% below its three-month average; decliners lead advancers by 4.5:1.

[10:38] {Threei} - NASDAQ volume 485M shares, about 4% below its three-month average; decliners lead advancers by 2.6:1.

[10:38] {Threei} - VIX index +5.3% to just over 25.00

[10:38] {nemo} brb

[10:39] {dino} reload?

[10:39] {Threei} Short Setup: AIG .15

[10:39] {Threei} if stays under .25 for scalpers, .30 for day traders

[10:40] {nemo} dino, it's back to support

[10:40] {Threei} invalidated

[10:40] {ese} beee zaaar....ya think it's going up then ya think it's goin dn then ya think it's goin up etc etc

[10:41] {Threei} this is what 3rd or 4th invalidation today?

[10:41] {nemo} yes..go home

[10:41] {nemo} but hold on, your validations have come right back after shake

[10:41] {nemo} out

[10:42] {Threei} so, let's define initial setup, then look for entry after invalidation

[10:42] {nemo} yeah,

[10:42] {Threei} invalidation of invalidation so to speak

[10:42] {Threei} that's a mouthful

[10:42] {nemo} .20 major support yesterday close

[10:43] {nemo} ohh, except for the spike, staying under the bb ma

[10:43] {nemo} right at 200

[10:44] {ese} L leap .80 this time i did it

[10:44] {Threei} you mean consciously :)

[10:45] {nemo} wow those bb's getting tight

[10:45] {Threei} on what nemo?

[10:45] {nemo} aig

[10:45] {Threei} oh yes

[10:45] {ese} yes

[10:45] {Threei} well... .20 - .30 is new range

[10:45] {ese} small though

[10:46] {nemo} yeah tight box

[10:46] {nemo} :)

[10:46] {Threei} so... lwet's modify it

[10:46] {Threei} Short Setup: AIG .20 break

[10:46] {Threei} if stays under .30

[10:46] {nemo} long if over

[10:46] {nemo} ?

[10:46] {Threei} not by me

[10:46] {nemo} o.k.

[10:46] {nemo} hehehehe

[10:46] {Threei} invalidated again

[10:47] {Threei} lol

[10:47] {Threei} whatever

[10:47] {Threei} where are those other worlds

[10:47] {nemo} too funy

[10:47] {nemo} with the tight bb's whichever way it broke was probably going to work

[10:48] {nemo} possible long if it holds above .30 and volume going over .42?

[10:50] {dino} bgc sm l .15

[10:51] {Threei} can't tell nemo, it doesn't trade on its own it seems

[10:51] {Threei} simply follow every whim of the market

[10:51] {dino} gut still says mkts fill open gap, then drop again

[10:51] {nemo} .40 old resistance, and looking for C&H

[10:51] {dino} too much green flashing

[10:57] {dino} cml stopped -.32

[10:57] {fernp} MET 34.10 break, Vad?

[10:58] {Threei} worth a try... not a stellar trade but more or less OKJ

[10:59] {fernp} ty

[11:00] {Threei} DOE CRUDE: +2.4M V +1.4ME

[11:00] {Threei} GASOLINE: +2.3M V +200KE; DISTILLATE: -355K V -1.7ME; CAPACITY UTILIZATION: 79.1% V 77.8%E

[11:00] {nemo} oil should skyrocket

[11:01] {nemo} wow, it's actually doing what a "normal" correlation would predict...weird

[11:02] {Threei} I don't get it nemo

[11:02] {nemo} what

[11:02] {Threei} more oil in storage than estimated

[11:02] {nemo} yep

[11:02] {Threei} how do you translate it itno should spike?

[11:02] {nemo} because, it's been spiking every time we get those kinda' readings

[11:03] {Threei} so it's not a normal correlation

[11:03] {Threei} it's against normal logic

[11:03] {nemo} hasn't been

[11:03] {nemo} has

[11:03] {Threei} whicbh is new normal

[11:04] {nemo} bgc not cooperating

[11:04] {Threei} MET is holding rather well fern

[11:06] {nemo} dino swm climbing the 200 with a downward trend line

[11:06] {dino} cml sm l .50

[11:07] {Les} bgc

[11:11] {fernp} WFC vad?

[11:11] {fernp} breakdown? and thanks for MET

[11:11] {Threei} sure

[11:11] {Threei} WFC does look breakdownish

[11:11] {Les} s bgc .09

[11:11] {Threei} it just never gave anything readable and working today

[11:11] {nemo} wow..ballsy les

[11:12] {fernp} .50 breakdown now is not a good pattern, Vad?

[11:12] {Threei} I like it

[11:12] {fernp} ty

[11:13] {Les} out .24 +.09

[11:13] {nemo} nice les

[11:13] {Les} at at 24

[11:13] {dino} gj

[11:13] {Les} big descending triangle with 50 ma pushing it down

[11:15] {Les} BGC be goooone

[11:16] {dino} bgc stopped -.26

[11:17] {nemo} swm...remember that 23.6 retracement -formed the pivot point of a triangle out of which swm brokeout at 10:30

[11:18] {dino} y

[11:18] {nemo} I'm swearing very loudly at the moment

[11:18] {fernp} CY again, Vad?

[11:19] {nemo} spy kissing the 200 ma

[11:19] {nemo} Qx forming resistance above its

[11:19] {Les} what charts are you using Nemo?

[11:19] {Threei} it's abiove 1:2 for a swing trade call from yesterday 1:2 for

[11:20] {Threei} I don't want it here as new day trade

[11:20] {nemo} what are you talking about 3i

[11:20] {Threei} [11:18] {fernp} CY again, Vad?

[11:20] {nemo} oh ty

[11:20] {nemo} on Laer charts Les

[11:20] {fernp} and for a scalp? .50 break with stop below .45? worth a try?

[11:21] {Les} ok just some differences with freestockcharts

[11:21] {dino} bwld sm l .50

[11:21] {Les} spy 200ma shown to be at .40

[11:21] {nemo} free...doesn't take into consideration premarket and post market

[11:22] {Les} can you take a screen shot of spy for the morning please?

[11:22] {nemo} and do what with it

[11:22] {Threei} can't tell fern

[11:22] {Threei} not delighted

[11:22] {fernp} ty

[11:22] {Les} I wanna see relationship between ticker and ma's on laser.

[11:24] {Les} where exactly is 200 ma on SPY on laser?

[11:25] {nemo} 107.10

[11:27] {Les} ok ty. that's some difference.

[11:27] {nemo} bgc following downward trendline from 10:15

[11:27] {nemo} really high volume here

[11:29] {Les} wow what's BGC's story? ugly daily

[11:31] {Threei} MET 1:2

[11:31] {Threei} nice climb

[11:32] {fernp} sold at 1:1 I know you know

[11:32] {Threei} lol

[11:33] {Threei} can;t blame you, things do not generally keep moving today

[11:37] {strider} short CY .47 stop .51

[11:42] {Threei} CYCC Hearing strength being attributed to speculation that they are meeting with buy/sell side firms next week

[11:44] {Threei} johan, you made it

[11:44] {Threei} welcome

[11:44] {_johan} finally yes

[11:44] {_johan} thanks

[11:44] {nemo} do I have to be nice?

[11:45] {fernp} nemooo

[11:45] {Threei} long journey, but successful :)

[11:45] {_johan} yes thank you

[11:45] {Threei} yes nemo... long weekend ahead, and system gave johan hard time

[11:45] {nemo} oh o.k.

[11:45] {_johan} and I am very interested in your trading room

[11:45] {Threei} so for a change be nice just for today

[11:45] {nemo} Tuesday he's toast

[11:45] {_johan} what i read about it it is oke

[11:45] {Threei} on Tuesday you can be your usual self

[11:46] {_johan} i will study in the week-end all your lessons

[11:46] {strider} hello johan.

[11:46] {Threei} good idea

[11:46] {Threei} we have a very very slow day today

[11:46] {strider} short HOG. 34, partial

[11:46] {_johan} hello strider

[11:46] {Threei} not much happens

[11:46] {_johan} yes i have expereince enough but it is goos to learn how you work

[11:47] {_johan} experience

[11:47] {_johan} i ,live in the Nwetherlands

[11:47] {_johan} Netherlands

[11:48] {Threei} wow, another Europiean

[11:48] {Threei} you guys will outnumber US_Canada soon :)

[11:48] {nemo} where in Niederland

[11:49] {_johan} Den Haag

[11:50] {_johan} it is here 17.50 now i must go for dinner

[11:50] {Threei} MET moved seriously beyong our expectations

[11:50] {nemo} Forgive my ignorance, but is that your office?

[11:50] {_johan} i will study all in the week-end and then start on monday

[11:50] {nemo} Tuesday Johan, markets closed here on Monday

[11:50] {Threei} I would with some doubt give it room for 1:2, but 1:3 is out of character

[11:51] {_johan} no thats where i live in the city Den Haag

[11:51] {_johan} also called the Haque

[11:51] {_johan} i trade from home

[11:51] {Threei} Johan, Monday is day off for US markets

[11:51] {nemo} yes, Capital is there,yes?

[11:51] {Threei} so, two things...

[11:51] {Threei} first, see you on Tuesday

[11:51] {_johan} oke

[11:52] {Threei} and second, your trial would be cut too short because of today's hassle and Monday being off,

[11:52] {_johan} it is oke

[11:52] {Threei} so ignore the automated e-mail that will tell you trial is over, and stay for two more days

[11:52] {_johan} if i like it i will subcribe soon

[11:52] {_johan} i am not the person who want to live from free trials

[11:52] {Threei} well, everyone is entitled to a week, so let's keep it fair

[11:52] {nemo} oil coming back

[11:53] {_johan} oke thanks but i will be fair to to you

[11:53] {_johan} have a nice week-end

[11:53] {Threei} you too

[11:53] {_johan} thanks bye for now

[11:54] {nemo} Dino, just had 3rd test of .75 in BGC

[11:55] {Threei} what are you guys looking for in there?

[11:55] {Threei} bounce or short?

[11:55] {dino} 3rd not liking, ice getting hit by hammer too much

[11:56] {nemo} volume is not indicating anything yet, might be an afterlunch or Tuesday

[11:56] {nemo} Vad, trying to figure if it's basing or setting up for a dbi

[11:56] {dino} i'll keep it on screen

[11:57] {dino} fdx close to lod

[11:59] {nemo} and, we're coming into lunchtime before a long-weekend

[12:00] {dino} fdx sm l .75

[12:01] {Threei} .75 - .90 is range I'd use on it now

[12:01] {nemo} BGC vad?

[12:01] {nemo} yeah

[12:01] {Threei} yeah

[12:01] {nemo} stop finishing my sentences

[12:01] {Threei} stop typoing faster than I do

[12:05] {Threei} there you go

[12:05] {Threei} 1:1 on .90 break

[12:07] {fernp} CY trying

[12:07] {strider} stopped HOG, stopped.

[12:07] {strider} not the most right I've ever been.

[12:08] {Les} 24 break on BGC?

[12:08] {strider} stopped CY

[12:08] {Threei} , no .90 was

[12:09] {fernp} out CY

[12:12] {dino} ndx green/gap filled, one down two to go

[12:13] {dino} out bwld .22, +.72

[12:15] {Threei} CY 1:3 for swing trade, and bumps into BB resistance on daily

[12:15] {dino} crm sm l .01

[12:15] {Threei} as far as I am concerned this trade is over for 60 cents

[12:15] {Threei} Market Internals update at 12:00pmET

[12:15] {Threei} - NYSE volume 380M shares, about 13% below its three-month average; decliners lead advancers by 3.1:1.

[12:15] {Threei} - NASDAQ volume 865M shares, about 7% below its three-month average; decliners lead advancers by 1.9:1.

[12:15] {Threei} - VIX index +3.4% to just under 25.00

[12:17] {dino} fdx out .31, +.56

[12:17] {Threei} wtg

[12:18] {dino} ty

[12:18] {Threei} Short Setup: BGC .75 break

[12:18] {Threei} if stays below .90

[12:20] {Threei} not a scalp

[12:27] {strider} did anyone else enter on that .54 print?

[12:28] {nemo} no

[12:28] {Threei} hmm?

[12:28] {dino} no

[12:28] {strider} printed .74 at 12:21

[12:29] {nemo} yes

[12:29] {Threei} lol, scared me by mistype .54

[12:30] {strider} sorry

[12:30] {Threei} level 2 bids never went away

[12:30] {Threei} someone has crap instead of broker, that's his headache

[12:31] {strider} well, great.

[12:31] {nemo} .75 is the bottom

[12:32] {Threei} RIMM sharp pullback

[12:36] {dino} crap is thru pot, mos i believe

[12:36] {nemo} ?

[12:37] {dino} ok s/p green and gap fill coming

[12:37] {dino} nemo, think fertilizer

[12:37] {nemo} yeah, bear trap

[12:38] {strider} Vad, is it your rule that the break point must be on the L2?

[12:38] {nemo} you don't know how many bids are at any given point because you can hide size of your orders

[12:38] {nemo} therefore prints don't mean anything

[12:38] {Threei} it's not a rule per se, it's just kind of common sense - out of bound prints do not matter much, they are created by someone's bad fill or late porint or erroneous print

[12:39] {Threei} thus they do not carry significance

[12:42] {Threei} RIMM{ bounce soon

[12:43] {Threei} want revisit closer to .50

[12:43] {dino} bgc sm l .00

[12:43] {nemo} 200 at .49

[12:44] {Threei} CVG Hearing Co. is in talks with Microsoft regarding a strategic relationship (timing uncertain)

[12:50] {dino} clm at the 50

[12:55] {dino} scanners all green

[13:00] {nemo} mmmhhh...long weekend...greece....down this afternoon?

[13:01] {larisa} yest +105? today -105 :)

[13:06] {dino} maybe so maybe so

[13:15] {Threei} sellers are back

[13:16] {Threei} (US) White House Press Sec: President Obama feels the Consumer Protection Agency is a 'great priority'

[13:16] {Threei} - Note: on 2/11, Senators Dodd (D) and Corker (R) reportedly agreed to shelve the Consumer Protection Agency legislation.

[13:17] {Threei} it can't be reason for sellof

[13:17] {nemo} no...long weekend, greece overhang

[13:17] {nemo} china tightening too

[13:17] {Threei} he can feel whatevfer he wants as far as markets are concerned

[13:17] {Threei} they all but labeled him a toothless tiger already

[13:18] {dino} out bgc .15 ave, +.15 don't like drop

[13:18] {Threei} I just thought abiout it dino

[13:19] {Threei} stalled for way too long

[13:19] {dino} yeah, had trouble at .25

[13:20] {dino} crm was stopped -.31

[13:21] {Threei} if stays under .75

[13:21] {Threei} Short Setup: RIMM .65

[13:24] {dino} nemo, cml?

[13:24] {Threei} another invalidation

[13:24] {Threei} this is invalid day

[13:24] {nemo} that got away

[13:24] {dino} it's like ranodom dancing

[13:24] {dino} random

[13:25] {Threei} lol

[13:25] {nemo} everybody thinking the same...get out for the weekend, so, have a little rally first

[13:25] {Threei} I can't do normal dancing, let alone random

[13:25] {Les} well you do think dirty

[13:25] {Les} so dirty dancing should be your thing

[13:26] {Threei} I believe my thoughts are pure and innocent

06[13:27] * nemo slaps Threei around a bit with a large dose of reality

[13:27] {Les} we all have our fantasies

[13:27] {Threei} although it appears no one but mne believes that

[13:28] {Threei} LYV Reportedly planning to sell tickets through Walmart stores (related TKTM WMT )

[13:28] {nemo} lyv

[13:28] {dino} fsys holds today

[13:30] {Threei} nemo, let me add new number for your mass intelligence stats

[13:30] {Threei} 23% Say Government Criticizing Toyota To Help GM

[13:30] {nemo} rotfl

[13:33] {Threei} AIG...

[13:33] {Threei} short or no short?

[13:33] {dino} it's like free (anti) advertising for gm

[13:33] {Threei} .35 break

[13:33] {Threei} no kidding dino

[13:34] {Threei} if that's what people believe, it won't make them sympathize with GM

[13:34] {Threei} Short Setup: AIG .35 break if stays under .50

[13:34] {nemo} no short

[13:34] {dino} mkt feels up imo

[13:35] {nemo} 200 ma is at .50

[13:35] {Threei} you think?

[13:35] {dino} cml sm l .70

[13:35] {Threei} to me, more like last bounce before the plunge

[13:35] {dino} could be, just my scanners are flashing lots of green

[13:35] {dino} strange....

[13:36] {dino} spmd drop

[13:36] {Threei} at the moment yes, but it's a bounce moment

[13:36] {dino} thin

[13:36] {nemo} what's thin?

[13:36] {Threei} bulimic?

[13:36] {nemo} bulemic

[13:36] {dino} recent ipo

[13:36] {nemo} what, cml?

[13:37] {dino} computers or something

[13:37] {dino} oh no nemo, spmd two months of charts

[13:38] {dino} bgc held well

[13:39] {Threei} if SPY reverses down here and breaks 107, prepare for final descent

[13:39] {nemo} aig has a tighter range

[13:40] {nemo} it's hitting vwap resistance

[13:40] {Threei} (CH) EU Trade commissioner: will not hesitate to use steps against China on trade issues

[13:40] {dino} idiots

[13:41] {Threei} China: does he have a nameZ?

[13:41] {nemo} coordinated with the US over the Dalai Llama and Taiwan stuff

[13:41] {Threei} so, you think global campaign of "let's rein China" begins?

[13:41] {dino} seeing articles of a housing bubble in canada vad

[13:42] {Threei} Says "world would be better off" when China starts to appreciate currency

[13:42] {nemo} their lending standards are strong dino...it's doubtful

[13:42] {Threei} I did too dino, but it's not very clear

[13:42] {dino} careful what you wish on china

[13:42] {Threei} see, there is huge difference

[13:42] {dino} i do see your standards are tougher

[13:42] {Threei} while on a surface there is similar rise,

[13:43] {Threei} the level of indebtness is nowhere as high

[13:43] {Threei} no creative mortgages

[13:43] {Threei} no zero down mortgages

[13:43] {nemo} rally

[13:44] {dino} monkey

[13:44] {Threei} so... while prices might be getting a buit ahead of themselves, it's doubtrful we can call it bubble in usual sense of the world

[13:44] {Threei} upward cycle, sure

[13:45] {Threei} probably swicthing to downward cycle at some point in the future, sure

[13:45] {dino} hope not bubble

[13:45] {Threei} probably not, but Canada is pretty much commodities and US strength dependent

[13:46] {Threei} so negative development in those aspects will impact all other, housing included

[13:46] {Threei} rather than housing itself becoming a problem and killing the rest

[13:46] {dino} obama keeps tax and spend up, you'll have a substate of americans living there

[13:48] {dino} ohhh nooooo

[13:48] {nemo} tv?

[13:49] {dino} easy button batteries dead

[13:49] {dino} bad karma

[13:49] {Threei} lol

[13:49] {nemo} looking for fcx DT around .30

[13:50] {Les} AWIAV?

[13:50] {nemo} coma

[13:51] {Les} cool

[13:51] {Threei} AIG wouldn't go up with market

[13:51] {nemo} nice timing

[13:51] {Les} 200ma at .50 holding aig for the moment

[13:52] {dino} before i forget, happy valetine's day gals

[13:52] {Threei} oh yes

[13:52] {Threei} dino is true gentleman

[13:52] {strider} is AIG still valid?

[13:53] {dino} i do what i can

[13:53] {Threei} I would be too if not for memory of a moth

[13:53] {Threei} I think so strider

[13:53] {Threei} we need market selloff

[13:53] {nemo} fcx dropped through trigger

[13:53] {Threei} but other than that, yes, AIG looks a good short

[13:55] {Threei} nice call on FCX

[13:55] {nemo} yeah, but I missed the trigger, just dropped

06[13:56] * Threei slaps gen around a bit with a large map where the door to our room is marked by X; don't forget the paddress anymore

[13:56] {nemo} When it topped out at .35 lower than the previous peak, I probably should have entered there

[14:00] {Raven} .

[14:00] {dino} .. ... ..

[14:01] {nemo} .. -.. - -.. ..-..-.

[14:01] {dino} brail?

[14:02] {dino} !$#@%^*$*##*&&^*)*^

[14:03] {Threei} ok, AIG is off watch

[14:04] {Threei} and whole short bias is not materializing

[14:04] {Threei} neither does long though, lol

[14:04] {nemo} most frustrating outcome would be tread water into close

[14:04] {Threei} quite possible that's what transpires

[14:04] {Threei} we did that whole day

[14:04] {Les} yeah RIMM looks like capable of something better but...

[14:05] {Threei} NTES Receives approval from GAPP for WOW; as speculated (related NCTY ATVI )

[14:05] {Threei} hmmm

[14:05] {Threei} could be a case of sell the news

[14:05] {Les} someone had the news before us

[14:06] {Threei} no, it was rumor discussed for days

[14:06] {Threei} turned true

[14:06] {Les} well the rumour pumped the stock. but it sold of this morning. so u r right, sell the news

[14:08] {Les} wouldn't mind catching it as a short if possible

[14:08] {Threei} Short Setup: NTES .50 break half lot

[14:09] {Threei} as if we have seen too few invalidations today

[14:09] {nemo} rimm coming into resistance

[14:10] {strider} stop ntes?

[14:10] {Threei} Market Internals update at 2:00pmET

[14:10] {Threei} - NYSE volume 590M shares, about 5% below its three-month average; decliners lead advancers by 2.4:1.

[14:10] {Threei} - NASDAQ volume 1.35B shares, about even to its three-month average; decliners lead advancers by 1.5:1.

[14:10] {Threei} - VIX index +2.5% to just over 24.50

[14:10] {Threei} I don't have any reasonable stop for it

[14:11] {Threei} it went too high from short trigger

[14:11] {nemo} it dt'D

[14:11] {strider} k

[14:11] {Threei} let it reestablish itself by new consolidation

[14:17] {Threei} valid again I think

[14:17] {dino} bgc went w/o us

[14:17] {Threei} .65 - 70 zone as resistance

[14:20] {Les} RIMM is disgusting

[14:20] {Threei} {RIMM} I demand second opinion

[14:21] {Les} denied!

[14:21] {Threei} NBG Formula Capital's Altucher makes positive comments on CNBC

[14:21] {Threei} - calls NBG a speculative Greece play

[14:21] {nemo} we're going to end positive on the day

[14:23] {dino} maybe so maybe so

[14:24] {dino} my gut call this mornning was close, fill gaps and drop, ndx, s/p did

[14:24] {Les} aig returns to .96 pivot

[14:25] {ese} L leap avg price.82

[14:26] {ese} am trying the patience route today........

[14:26] {ese} i mean being patient.....not patience...our patience

[14:26] {nemo} today very frustrating

[14:26] {ese} am babbling

[14:26] {ese} indeed

[14:27] {dino} yeah, 5 stops, 6 wins

[14:29] {nemo} had a trendline where rimm stopped, I look back, it was resistance on the daily back in September

[14:29] {dino} out cml .13, +.43

[14:30] {nemo} 5 stops 7 wins

[14:30] {dino} if i take ups now, i tie you

[14:30] {nemo} no, that's your stats

[14:30] {dino} oh yes

06[14:31] * nemo slaps dino around a bit with a large trout

[14:31] {Threei} lol

[14:31] {dino} deservedly so

[14:31] {fernp} KLIC 7 break, Vad? any read Vad?

[14:31] {dino} long week, lots of outside issues

[14:31] {Threei} I wouldn't fern

[14:32] {fernp} yeah, i agree ty

[14:32] {dino} wow cml

[14:33] {Threei} NTES

[14:33] {Les} ntes

[14:33] {Threei} half lot in

[14:33] {Les} .53 s

[14:34] {nemo} forgot about it

06[14:34] * Threei slaps nemo around a bit with a large memory improvent pill

[14:34] {Les} AIG struggling to hold

[14:34] {Les} .90

[14:35] {patience} hey ese, how's the market treating you today?

[14:35] {patience} anybody?

[14:35] {strider} in NTES.49

[14:35] {dino} up but light

[14:36] {strider} is 1:1 at .30?

[14:36] {Threei} .35 - .30

[14:36] {Les} out .40

[14:37] {Les} aig coming down

[14:37] {Les} s aig .84 small shares

[14:37] {strider} out .35

[14:39] {ese} Hi patience, i made one BS trade by fluke....i didn't even know that i had bought the stock. LEAP made .04 on it and am in it again for the last 2 hours

[14:40] {Les} ah Prince william's visited my old stomping ground: http://www.telegraph.co.uk/news/picturegalleries/royalty/7026202/Prince-William-in-Australia.html?image=1

[14:48] {Threei} day is positive, mistly thanks to this last short... but I am not sure the size of win overall justifies waking up

[14:49] {dino} cml sm l .70

[14:50] {Les} I look forward to the day I can say that vad

[14:50] {Les} me, I need the practise

[14:51] {Threei} number of invalidated plays today is unbelieavble

[14:51] {Les} really. school holidays here. been hanging out on the playstation with the kids

[14:53] {Les} AIG

[14:55] {Les} crap. pop goes the weasel. stop aig

[14:56] {nemo} nice self-analysis les

[14:56] {Les} just to humour you nemo

[14:57] {nemo} I need it today

[14:57] {strider} I'm in the hole too, but less so because of the AIG trade. Thanks for that, vad.

[14:57] {strider} meant NTES

[14:58] {nemo} I'm positive, but BEAR made more than I did today

[14:58] {Threei} always

[14:58] {Les} wish I was still holding ntes

[14:58] {nemo} were

[14:59] {strider} thank you.

[14:59] {nemo} drives you crazy doesn't it

[15:00] {nemo} ntes sitting on 200

[15:00] {nemo} not anymore

[15:00] {strider} I bet I hear common-taters talk about an 'amount of shares' twenty times a day.

[15:00] {nemo} Oh no...now all I can do is think of Pink Panther quips

[15:02] {Les} wow aig

[15:02] {Threei} crap

[15:02] {nemo} rimm holding

[15:02] {nemo} what

[15:02] {Les} actually stopped only half of aig by accident. s .82

[15:02] {Threei} thought of calling it short on .80 break, then decided, we are out of the troubles for today, why ask for it

[15:03] {nemo} ahh the old Ted Willaims .406

[15:03] {nemo} Williams

[15:03] {nemo} RIMM short .20 or long .30?

[15:04] {nemo} nevermind the short, pivot support at .07

[15:06] {dino} cml stopped -.33

[15:08] {Les} took the bounce on ntes +.08 ty nemo

[15:08] {nemo} yw

[15:09] {dino} stops and goes, sheesh

[15:21] {ese} out leap .04 +.02.........just one of them day....i'll still take a couple a hundred profit

[15:22] {ese} have a great weekend all.....see ya tuesday

[15:22] {Threei} take caare ese

[15:23] {ese} cya vad

[15:26] {dino} cya es

[15:26] {Les} ok. hole filled on AIG. NTES is good to me. try for one more b/d on it before close. a green finish

[15:27] {Les} aig wants to fall through 200 ma

[15:35] {dino} ndx held well

[15:35] {larisa} [13:52] {dino} before i forget, happy valetine's day gals

[15:35] {larisa} ty dino :)

[15:35] {larisa} same to all guys

[15:36] {dino} :)

[15:39] {larisa} as i grow older, I realize that men deserve to be happy too.. some of them at least :)

[15:39] {nemo} swm decided to make a late run

[15:39] {Threei} that's so very nice

[15:40] {billyc} gn all thanks for the calls have a great weekend

[15:40] {strider} It's a trick.

[15:41] {Threei} take care billy, have a good one

[15:42] {nemo} swm up a buck i the last 5 minutes

[15:43] {nemo} wow..gone momo

[15:45] {dino} ml l .50

[15:45] {nemo} what stock

[15:45] {dino} cml

[15:45] {nemo} cml

[15:47] {nemo} swm hit the premarket high and then backed off

[15:47] {dino} we should have played it all day

[15:48] {nemo} yeah...I'm thinking I should just follow 1 or 2 stocks maybe three at most

[15:49] {dino} markets random dancing is so, how do i say it?....random

[15:49] {nemo} eloquent

[15:50] {larisa} nemo, once I get seriously involved with a stock, it stops behaving. I have 6 charts up, so they do not know which one i like today :)

[15:51] {nemo} I'm not going to touch that one...

[15:51] {nemo} Nice bait...

[15:51] {dino} lol, up $92 net, peaked at $420, stupid, stupid

[15:51] {nemo} You make me feel good about myself dino

[15:52] {dino} why? misery like company?

[15:52] {nemo} oh, and next week is op ex...oh joy

[15:52] {nemo} yeah...schadenfreude

[15:52] {dino} missed last two

[15:53] {nemo} missed last two what

[15:53] {dino} opps forgot ups still on

[15:53] {nemo} almost an unintentional overnight

[15:54] {dino} larisa, i have 20 on all times, chaos today

[15:54] {larisa} how do you do that? 20 charts?

[15:55] {nemo} incredible focus

[15:55] {dino} cyber, click, charts pop up

06[15:55] * larisa slaps dino around a bit with a large trout

[15:55] {nemo} whoa

[15:55] {larisa} 6 up, but really can follow 3

[15:56] {dino} back at you w/box of chocolates

[15:56] {larisa} lol

[15:56] {Threei} gentleman... what can I say

06[15:56] * larisa slaps Threei around a bit with a large trout

[15:56] {dino} 8 windows open at one, plus other comp. here, an another windows 3 w/rea$/myanville/yahoo bus news

[15:57] {dino} so basically 12 windows open at once

06[15:57] * Threei slaps larisa around a bit with a large bouqet of flowers, box of chocolates and big pink ribbon that Larisa is free to put on whatefver or whoever she wants and consider it a gift

[15:57] {larisa} i want life easier than that:)

[15:58] {larisa} lol, thank you Vad :)

[15:59] {Threei} always

[15:59] {dino} out ups +.10

[15:59] {nemo} so now your up almost 200

[15:59] {Threei} okay guys, thank you all,

[15:59] {Threei} have a great long weekend,

[15:59] {Threei} happy Valentine day

[15:59] {larisa} bye all, ty for chocolate and flowers!

[15:59] {Threei} and I'll see you all on Tuesday

[15:59] {Les} ciao

[16:00] {nemo} P&Q

[16:00] {dino} no nemo, only 300 sh

[16:00] {nemo} oh, sorry, thought it was standard lot

[16:00] {nemo} gotta' go

[16:01] {dino} too much chaos in mkts and distractions here, keeping it sm

[16:01] {dino} cya bud