Thursday, June 27, 2013

June 27 2013

Another day of the same - positive but requiring a lot of patience to sit through the long periods of market stall. Quarter end probably has something to do with it.

Session Time: Thu Jun 27 00:00:00 2013
[08:41] {+cc_9} goooooooood morning
01[08:41] {&Threei}  morning cc
[09:00] {Les} gm
01[09:01] {&Threei}  les :)
[09:03] {Les} looks like sovereign debt not only thing gonna get hammered as rates rise:
[09:04] {Les} redemptions in US bonds breaking 2008 highs
01[09:05] {&Threei}  of course... debt is debt, sovereign or corporate
01[09:05] {&Threei}  rates rise, debt burden becomes heavier
[09:05] {Les} Ben gotta be sweating here
[09:06] {Les} killing froth without killing confidence
01[09:10] {&Threei}  President Obama says he will not send US jets to intercept Snowden when he travels next - @Reuters
01[09:10] {&Threei}  eeck
[09:11] {nemo} this is shaping up into another gap up grind up already
[09:12] {jdetente} Good morning
01[09:12] {&Threei}  jd :)
[09:12] {backman} gm
01[09:12] {&Threei}  bman :)
[09:13] {dino} gm
01[09:13] {&Threei}  dino :)
[09:19] {Will49} gm
[09:19] {RonS} howdy doody
01[09:19] {&Threei}  Ron :)
[09:19] {Les} Dunno Nemo, looking at 15 & 60 mins gap up and sell open is a possibility
[09:19] {nemo} fas and spy against the ceiling 
[09:19] {nemo} where's the 50 SMA and weekly pivot Les?
01[09:19] {&Threei}  Facebook is not totaly useless... got my first order for the print through it
[09:20] {cipher} gm
01[09:20] {&Threei}
01[09:20] {&Threei}  cipher :)
[09:22] {Les} oh stopped at midnight to take some moon photos vad. telephoto is clearly in order
[09:22] {Les} what r u using?
[09:22] {Les} to grab moon in such detail?
01[09:22] {&Threei}  50-200
[09:22] {Alexs} gm
01[09:23] {&Threei}  alex :)
[09:24] {thomcbell} market pretty steady recovery since monday 
01[09:25] {&Threei}  not PMs though
[09:26] {ese} gm
[09:28] {nemo} iwm spy and fas set up at the starting gate
[09:29] {+cc_9} Will watch ABX today, see if found "bottom" on slight gold reversal.
[09:29] {+cc_9} (ABX accounts for 12% of GDX fwiw)
01[09:30] {&Threei}  their daily almost identical
01[09:31] {&Threei} Short Setup: GDX  .65 break
01[09:31] {&Threei}  If holds  .70 
[09:35] {bbobr} gm
01[09:36] {&Threei}  bbobr :)
01[09:36] {&Threei}  half out
[09:39] {+cc_9} NEM reversing, looking for long entry ABX
[09:40] {+cc_9} Looking @ ABX long on break of $15.05
01[09:41] {&Threei}  out balance
[09:42] {+cc_9} (NEM = 12% GDX / ABX = 12% GDX)
[09:42] {+cc_9} NEM session highs .90s. ABX lagging 
[09:43] {dino} actg sm l .41
01[09:43] {&Threei} Short Setup: CAT  83 break hl
01[09:44] {&Threei}  If holds  .07 
[09:44] {+cc_9} NEM nearing $28, ABX still lagging
[09:45] {dino} out actg .71, +.30
[09:45] {+cc_9} Long ABX 15.05 tgt 15.45
[09:45] {dino} dtv sm l .90
01[09:46] {&Threei}  1:1
01[09:46] {&Threei}  1:2
01[09:46] {&Threei}  CAT is still my friend
[09:50] {+cc_9} ABX new session highs. Go big Barrick
[09:50] {+cc_9} ABX now pushing GDX higher
[09:53] {+cc_9} ABX stop moved to cost (15.05) risk 0 
01[09:53] {&Threei} Short Setup: GDX  .80 break
01[09:53] {&Threei}  If holds  .85 
[09:55] {ese} is this working?
01[09:55] {&Threei}  ?
[09:56] {ese} guess not
01[09:56] {&Threei}  whatcha talking about ese?
[09:57] {dino} out dtv .25, +.35
[09:57] {ese} ahhh  there we go
[09:58] {Will49} nice kitty  tks Vad
01[09:58] {&Threei}  yw
[09:59] {ese} was on another board weirdly enough
[09:59] {nemo} 10 numbers
[09:59] {RonS} well, if you were there it was...
01[09:59] {&Threei}  lol
01[10:00] {&Threei}  *(US) MAY PENDING HOME SALES M/M: 6.7% V 1.0%E; Y/Y: 12.5% V 8.3%E
01[10:01] {&Threei}  1:1
[10:02] {robbers} Out GDX, thanks Vad.
01[10:02] {&Threei}  :)
01[10:03] {&Threei}  damage control in full blast mode by dudley-dovie:
01[10:03] {&Threei}  (US) Fed's Dudley (dove, voter): Initial rate hikes are a long way off, could arrive well after 6.5% unemployment level is crossed; economy may diverge significantly from FOMC forecast- Recent market expectations for an earlier rate rise are "quite out of sync" with the statements and expectations of the FOMC - If labor market conditions and economic growth were less favorable than FOMC's outlook, asset purchases would continue at a higher pace for longer.
[10:04] {Will49} back-peddle...back-peddle
[10:04] {dino} i wish they would just shut up
01[10:04] {&Threei}  unleash the dovies!
[10:04] {nemo} ain't happenin'
[10:05] {ese} hmmmm cut off again
01[10:05] {&Threei}  your ISP is crap, ese...
[10:05] {thomcbell} wprt small short 31.87
01[10:06] {&Threei}  shaw never acts up this often and this severe
[10:06] {ese} not exactly happy with telus
[10:07] {Will49} despise telus...nothing but trouble
[10:14] {thomcbell} stopped wprt
01[10:14] {&Threei} Short Setup: AIG  .10 break
01[10:15] {&Threei}  If holds  .15 
01[10:16] {&Threei}  GDX 1/4 more out... my dear fur boots
01[10:17] {&Threei}  stop to .76
01[10:17] {&Threei}  no go AIG
[10:25] {dptl} gm
06[10:25] * Les slaps dptl around a bit with a large trout
01[10:25] {&Threei}  wow
01[10:25] {&Threei}  alarm clock is broken?
[10:26] {dptl} late night
[10:26] {Will49} hope it was worth the abuse
[10:27] {Will49} you're taking now
06[10:27] * Les slaps Will49 around a bit with a large trout
[10:27] {Will49} whaaaa
[10:28] {Will49} just trying to support my friend
[10:28] {Les} late night. too tired to think up novel slapping for ya will
[10:28] {dptl} lo Will
[10:28] {dptl} lol
[10:28] {Will49} :)
[10:30] {dino} boil, ugaz drop
01[10:30] {&Threei}  stop to .71
01[10:31] {&Threei}  hmmm
01[10:31] {&Threei}  on one side, 36% Rate Personal Finances as Good or Excellent.
01[10:31] {&Threei}  on another, 75% have no savings to sustain them for more than 6 months with no income
[10:32] {Will49} 36% 0n the dole
[10:32] {dino} bingo
01[10:32] {&Threei}  math doesn't add up, so all I can conclude is that part of those 75% consider it good or excellent
[10:32] {Will49} all propaganda
[10:34] {Will49} in my Clint Eastwood state of mind this morning
[10:34] {Les} so that'd make me a little communist cockroach would it Will?
[10:35] {Les} can't remember clint eastwood swear words anymore
[10:35] {Will49} that'll do Les
[10:35] {dino} ugaz sm l .15
[10:37] {dino} iep drop, wide and thin sucker
01[10:41] {&Threei}  mind boggles as imagination tries to picture wide and thin sucker
[10:41] {dino} lol, wide spread, thin volume
01[10:42] {&Threei}  don't ruin it for me
[10:42] {Will49} come on vad...focus
[10:42] {dino} suppose i could have said cheap hooker instead
01[10:42] {&Threei}  I wanted to... but then dino came up with this
[10:42] {Will49} haha
[10:43] {dino} ugaz stop is .99, brb
01[10:43] {&Threei}
[10:43] {dino} sob slipped out .88 -.27
01[10:43] {&Threei}  I guess this will do for wide and thin
01[10:44] {&Threei}  and sucker
[10:44] {RonS} lol
[10:44] {Will49} ahhhh...not what I was thinking at all
[10:44] {Will49} will tells himself...focus
01[10:48] {&Threei}  wacthing IWM for pullback entry
[10:48] {dino} exp spike, sstk spike
[10:50] {RonS} 3i...sstk somewhere to market your photos?
01[10:52] {&Threei}  I sell through them
[10:52] {RonS} ah ha...
01[10:52] {&Threei}  it's a stock photography, not necessary artistic
01[10:54] {&Threei}  can you see this portfolio:
01[10:54] {&Threei}
[10:55] {dino} sstk sm s .24
01[10:55] {&Threei}  not sure if this url works without customer login
[10:56] {RonS} yes, and see it...was busy looking at pix...really nice collection
01[10:56] {&Threei}  cool... that's my portfolio at SSTK
[10:56] {RonS} particularly liked the pictures of you on page 3... 
[10:57] {Les} nah, gotta be customer
01[10:57] {&Threei}  me? no such thing there :)
[10:57] {RonS} ...the old goat?...:D
01[10:57] {&Threei}  nah, I am a cute owl:
[10:58] {RonS} oh...OK...
[10:58] {backman} watching GDX ...see if it fails at .60 like yesterday
01[10:58] {&Threei}  ok... deadly hawk:
01[10:58] {&Threei}  come on IWM, retreat more
[11:00] {dino} data spike
[11:01] {nemo} this is just about the same action as the last two days
[11:05] {dino} cov sstk .90, +.34
[11:05] {Les} short ABX .98
[11:06] {Les} holding .10
[11:06] {dino} srpt drop
01[11:06] {&Threei}  no clear entry IWM... got away
[11:06] {Les} messy yeh
[11:06] {dino} wow that was fast drop/pop
[11:07] {Les} thin and wide huh?
[11:07] {dino} wide and fat
[11:08] {dino} dropping again
[11:08] {backman} out gdx +.20
[11:09] {RonS} srpt...something about a drug named drisa getting breakthrough status...
[11:10] {RonS} cannot find details...
01[11:12] {&Threei}  it's GSK who developed the drug
01[11:12] {&Threei}  not sure how SRPT is related, maybe just in the same field
01[11:13] {&Threei}  Glaxosmithkline PLC FDA to grant breakthrough therapy designation to drisapersen for Muscular Dystrophy - press***Note that Sarepta Therapeutics is developing eteplirsen as a competing drug to drisapersen Related (GLAXF GSK GSK.UK SAREPTA SRPT )
01[11:13] {&Threei}  ahha
01[11:13] {&Threei}  they develop a competing drug
01[11:14] {&Threei}  eteplirsen competes with drisapersen
01[11:14] {&Threei}  don't tell me there is no joke in there somewhere
[11:14] {RonS} depends on what persen you talk to...
01[11:16] {&Threei}  hmmm... do I even want to talk to a persen going by moniker of drisa
[11:16] {ese} no
[11:16] {Les} gld new low
[11:16] {nemo} 97 was bottom of iwm channell
01[11:17] {&Threei}  well, this is where I wanted it ion that pullback but it never got there
[11:35] {Les} I nominate NEM for SoMG today
[11:35] {dino} what is somg?
[11:36] {Les} so "oh my GOD"... think teenage daughter squealing
[11:36] {dino} ahhh
[11:36] {Les}
01[11:36] {&Threei}  son of a motherless goat
[11:37] {dino} i take it thats a bad thing?
[11:37] {Les} shorted it too early
[11:37] {nemo} pivot here
[11:41] {jdetente} Dino...
[11:41] {jdetente}
06[11:41] * Les slaps jdetente around a bit with a large trout
[11:41] {Les} [17:37] {Les}
[11:43] {jdetente} haha
[11:43] {jdetente} oops
[11:43] {jdetente} I just took you off ignore
[11:46] {Les} that's alright then
[11:47] {Les} outta here pyjama time back for close
[11:50] {dino} sstk sm s .30
01[11:58] {&Threei} Short Setup: GDX  .70 break
01[11:59] {&Threei}  If holds  .75 
[12:04] {dino} ades spike
[12:05] {thomcbell} tsla is a beast 
[12:06] {+Raven}  '
[12:06] {dino} gmcr drop
[12:08] {RonS} For Green Mountain Coffee Roasters $GMCR, IRI data continued to show weakness in K-Cups
[12:09] {dino} ty
[12:10] {thomcbell} wprt lord god
[12:12] {dino} rumors ups converting to gas by '14
[12:21] {ese} back in L fslr .85
[12:21] {ese} got stopped out of this yesterday for a small loss
01[12:22] {&Threei}  meh
[12:23] {dino} sstk stop -.36
[12:24] {backman} tempted to buy this break of GDX..psychic block
01[12:25] {&Threei}  other than morning recoveries from sharp selloffs, GDX wasn't a good long for the rest of the day really
[12:27] {ese} fslr stop -.20 ok I officially hate this stock
[12:30] {Alexs} .76 was right stop GDX
[12:32] {backman} took small short at .90
[12:35] {backman} partial at .81
01[12:35] {&Threei}  wtg
[12:48] {dino} ades sm s .70
[12:50] {backman} out on trail .12
[12:58] {Alexs} is there any problem to trade SPY Vad?
01[12:58] {&Threei}  not really
01[12:58] {&Threei}  it's just helpful to ave something leading your trading vehicle,
01[12:59] {&Threei}  so when you trade something else, you can use SPY as help
[12:59] {Alexs} but if a right setup it is possible to trade SPY itself?
01[13:00] {&Threei}  yes
[13:11] {dino} cov ades .20, +.50
01[13:14] {&Threei}  gosh GLD
[13:18] {dino} twc spike
[13:21] {dino} chtr too
[13:28] {dino} mktx spike
[13:33] {dino} mktx sm s .28
[13:36] {jdetente} zzzzz
[13:38] {jdetente} man GDX
01[13:40] {&Threei}  waiting for the bounce to short
[13:49] {dino} wow sstk
01[13:52] {&Threei} Short Setup: GDX  .50 break
01[13:53] {&Threei}  If holds  .55 
[13:54] {dino} omab sm s .38
[13:54] {RonS} is that dyslexic for moab?
01[13:55] {&Threei}  lol
[13:55] {Alexs} for obam
01[13:55] {&Threei}  my suggestion: it's dyslexic and short handle for obam
[13:55] {dino} lol
01[13:55] {&Threei}  lol alex
[13:56] {dino} gld clocked
01[13:56] {&Threei}  GDX, if it doesn't double-bottoms here and makes new low, it's one to ride
01[13:59] {&Threei}  GLD slide continues
01[14:00] {&Threei}  ABX too... GDX, are you blind?
[14:00] {dino} markets feel like want open gaps
01[14:01] {&Threei}  out for now
[14:08] {+cc_9} ABX what ? 
[14:08] {+cc_9} lol sorry im back
[14:08] {nemo} I'll leave it alone
[14:09] {nemo} nah
[14:09] {nemo} can't
[14:09] {nemo} You're sorry your back?
[14:09] {+cc_9} you're*
[14:09] {jdetente} he's apologizing to us nemo
[14:10] {nemo} Nixonian apology then
[14:10] {jdetente}
[14:11] {ese} .
[14:11] {ese} opps
[14:12] {RonS} o m g...and they said pulp fiction was bad...Over 400 million tweets are sent every day; at 140 characters each, that's the equivalent of over 80,000 novels
01[14:12] {&Threei}  [GLD] August gold futures test $1200
01[14:13] {&Threei}  my contribution is minimal Ron, if that's any consolation
01[14:13] {&Threei} Short Setup: GDX  .80 break
01[14:13] {&Threei}  If holds  .85 
[14:14] {ese} there was a water version of that movie......"Gulp Fiction"
[14:14] {ese} alot more drinking in it to
[14:14] {Will49} lol
01[14:14] {&Threei}  1:1
[14:15] {dino} cover omab .27, +1.11
[14:15] {nemo} Rorschach charts again
[14:16] {dino} something about those
[14:16] {Will49} dandt dino
[14:16] {Will49} dandy
[14:16] {nemo} There's something about Dino
[14:16] {RonS} hey ese...
[14:16] {dino} thx
[14:17] {jdetente} scalp only...come on GDX
[14:17] {jdetente} you can do better
[14:29] {dino} nemo, you having me thinking about that Something about Mary movie
[14:34] {RonS} maybe he's just calling you a goober...:O
[14:34] {jdetente} "is gel?"
01[14:36] {&Threei}  end of the day should bring another bout of panic... question is which vehicle is better, GLD or GDX?
[14:37] {Alexs} looks like GLD gives more predictable result
[14:37] {nemo} ;-)
[14:39] {dino} lol
[14:49] {dino} stml drop
[14:51] {Les} we inanyting?
[14:51] {Will49} notathing
[14:52] {Les} u eationg at keyboartd too will?
[14:52] {Will49} not allowed
[14:55] {Les} A sharp fall in household disposable income and a drop in savings in the first three months has overshadowed revised official figures showing Britain's “double-dip” recession never happened. 
[14:56] {Les} one day its this
[14:56] {Les} next day its that
[14:56] {Les} everyone's poor but no recession nothing to see
[14:57] {Les} poorer
[14:58] {backman} GDX...u think taking out recent low of 22.87 has nay merit?
[15:00] {Les} hope yer not asking me
01[15:00] {&Threei}  watching... not sure yet
[15:00] {thomcbell} it might be washed out 
[15:06] {Les} gld .20 short?
01[15:07] {&Threei}  looks like
[15:10] {Les} missed it. tired, off to bed
[15:10] {Will49} missed it too
[15:10] {Les} caught out reading yer gold macro article
[15:10] {Will49} and I'm not even tired
[15:11] {Les} your just old
[15:11] {Will49} true dat :)
[15:11] {Les} KAPOW!!
[15:11] {Will49} and slow
[15:11] {Les} slow is good
[15:11] {Les} starting to appreciate slow
[15:11] {Will49} in some things maybe
[15:11] {Les} hurts less
[15:11] {Les} c u's tomorrow a+
[15:17] {dino} cov mktx .37 -.09
[15:18] {dino} calling it a day, very good one. thx all for ideas
[15:18] {Will49} peace dino
[15:19] {dino} thx buddy
01[15:19] {&Threei}  take care dino
[15:19] {dino} u2
[15:24] {+cc_9} ok folks
[15:24] {+cc_9} u all have a great weekend!
[15:24] {+cc_9} Vad, have a good one bud
[15:24] {Will49} you 2
01[15:24] {&Threei}  sheesh... slackers all around
01[15:24] {&Threei}  I want one more trade
[15:25] {nemo} tiring day
[15:25] {Will49} you're just old
01[15:25] {&Threei}  hehe
[15:25] {nemo} grinding action
[15:25] {Will49} if they were hips it would be ok
[15:26] {nemo} nah, quarter end, end of month
01[15:29] {&Threei} Short Setup: GDX  .75 break
[15:29] {Alexs} time for panic GLD
01[15:29] {&Threei}  I hope!
01[15:29] {&Threei}  If holds  .85 
01[15:29] {&Threei}  and mekt is count GDX!
01[15:29] {&Threei}  1:4 at least
01[15:29] {&Threei}  "make it count" that was
01[15:36] {&Threei}  where is our panic
[15:36] {Alexs} lol
01[15:36] {&Threei}  come on gold, panic
01[15:36] {&Threei}  scream... yell... cry... throw dishes
[15:39] {jdetente} is that what you're doing over there??
[15:39] {jdetente} lots of racket
01[15:40] {&Threei}  well, that's what we are doing when nemo is not here
[15:41] {nemo} ?
01[15:41] {&Threei}  up[on his arrival, gunshots add to the noise
[15:41] {nemo} ahhh
[15:41] {nemo} I keep it on "select fire" though
01[15:42] {&Threei}  can you switch it to semi auto and aim at GDX?
[15:42] {nemo} select fire is semi-auto, auto is automatic
01[15:42] {&Threei}  ok... just do it already
01[15:43] {&Threei}  if you can add grenade launcher, I won't mind terribly
[15:43] {nemo} frankly, I was thinking sentry technique
01[15:43] {&Threei}  flamethrower won't hurt either
[15:43] {nemo} I'm more of a precision guy myself
01[15:43] {&Threei}  bayonette?
[15:43] {nemo} I was thinking of something a bit more ergonomic, but that will work
01[15:44] {&Threei}  GLD starts final descent into 8th circle of inferno
01[15:44] {&Threei}  catch up GDX
[15:44] {nemo} ironically, rather cold
[15:44] {jdetente} well GDX does have on fur boots for a reason
01[15:44] {&Threei}  lol
[15:45] {RonS} jolly good...U.K. says fields of shale gas in northern England twice as large as previously estimated |
01[15:46] {&Threei}  oil is moribound
[15:46] {Alexs} no panic today
01[15:47] {&Threei}  no? :(
01[15:47] {&Threei}  but we love it so much
[15:51] {nemo} I think it's sublime
01[15:52] {&Threei}  hopefully this is just an end of quarter window dressing action
01[15:52] {&Threei}  and as we roll over, panic returns
[15:53] {nemo} next week so screwed up though
01[15:53] {&Threei}  why?
01[15:54] {&Threei}  oh wait
01[15:54] {&Threei}  short week
01[15:54] {&Threei}  3 days
[15:54] {Alexs} 4
[15:54] {nemo} canada holiday monday, half day wednesday
01[15:54] {&Threei}  hmm?
01[15:55] {&Threei}  I thought half day Fri
[15:55] {Alexs} you don't work Monday?
[15:55] {nemo} Wednesday look it up
01[15:56] {&Threei}  NASDAQ site shows half day on Wed for 2012
01[15:56] {&Threei}  nothing for 2013
01[15:56] {&Threei}  so I'd assume, we have full day off on Thu and half day on Fri
[15:56] {nemo} mmmhhhh....well, o.k. then again  gonna' be a slow week
[15:56] {nemo} nah, you have to stay after school
01[15:56] {&Threei}  my suggestion is, let's take 4 days long weekend
01[15:56] {&Threei}  not bother with Fri
01[15:57] {&Threei}  work 3 days
[15:57] {Alexs} nemo is right July 3d half day
01[15:57] {&Threei}  where do you see it?
[15:57] {nemo} all those in favor say, "I!"
[15:58] {nemo}
01[15:58] {&Threei}  I suspect it's an error, it makes no sense
[15:59] {nemo} mmmhhhhh....
01[15:59] {&Threei}  ok guys, thank you all
01[15:59] {&Threei}  have a good evening, see you tomorrow
[16:00] {Will49} peace
[16:00] {Alexs} gn all