Friday, May 6, 2011

May 06 2011

Nice end to the week with most trades working to the tune of 1:2 - 1:3. No losing days either.

[08:31] {Threei}  *(US) APR UNEMPLOYMENT RATE: 9.0% V 8.8%E
[08:31] {Threei}  *(US) APR AVG HOURLY EARNING M/M: 0.1% V 0.2%E; AVG WEEKLY HOURS:34.3 V 34.3E
[09:16] {_rizvisy1} gm all
[09:16] {Threei}  riz :)
[09:17] {nemo} tell dino to go back to bed...silver bounced hard
[09:17] {_rizvisy1} gm Vad
[09:17] {RonS} gm dino out at golf tourney today
[09:17] {Threei}  nemo, ron :)
[09:17] {Threei}  yeah, he knew
[09:27] {patience} good morning, is it friday yet?
[09:28] {Threei}  hopefully
[09:29] {larisa} gm :)
[09:29] {Threei}  larisa :)
[09:30] {Threei} Short Setup: SLW  .70 break
[09:31] {jfjf64} mornin
[09:31] {Threei}  invalidated
[09:31] {Threei}  jf :)
[09:31] {Threei} Short Setup: SLW  .80 break
[09:32] {Threei}  .92 stop
[09:32] {Threei}  no go
[09:32] {jfjf64} stubborn
[09:32] {Threei}  should be ready soon
[09:33] {nemo} silver strong
[09:33] {Threei} Short Setup: SLW  36 break
[09:34] {Threei}  invalidated
[09:34] {Threei}  UUP donwtick supported it here
[09:34] {nemo} slv parabolic
[09:36] {Threei}  .30 was it but no clear setup
[09:36] {Threei}  long now, 36 break
[09:36] {Threei}  if holding .90
[09:37] {davd} up 3.2pct on slv is far from parabolic.  :D
[09:38] {nemo} this morning, did 25 million shares already
[09:38] {Threei} Short Setup: CAT  .25 break half lot
[09:38] {Threei}  grrrr
[09:38] {Threei}  too fast
[09:38] {nemo} $2.5 from the low
[09:38] {jfjf64} grr
[09:39] {Threei}  second chance
[09:39] {Threei}  same setup
[09:39] {Threei}  1;1
[09:40] {Threei}  stop .31
[09:40] {jfjf64} nice
[09:41] {jfjf64} out.11
[09:42] {Threei}  finally
[09:42] {Threei}  out .93
[09:44] {patience} in (first majestic silver)
[09:44] {Threei} Short Setup: SLW  36 break
[09:44] {jfjf64} read my mind
[09:45] {Threei}  stop is obvious
[09:45] {Threei}  1:1
[09:45] {Threei}  scalpers win
[09:46] {Threei}  once more
[09:46] {Threei}  same setup
[09:46] {Threei}  same stop
[09:46] {Threei}  1:1 again
[09:46] {Threei}  come on, follow through this time
[09:47] {Threei}  .05 stop
[09:47] {Threei}  no... scalpers win again
[09:47] {jfjf64} uup
[09:48] {jfjf64} grrrrrr
[09:48] {Threei}  action is fast and furious this morning
[09:48] {jfjf64} very
[09:49] {jfjf64} slw  dtop
[09:49] {Threei}  unless breaks .35
[09:50] {Threei} Short Setup: USO  .40 break
[09:50] {Threei}  if stays under .50
[09:51] {Threei}  target .15
[09:51] {Threei}  two partials
[09:55] {jfjf64} ya lk slw   l
[09:55] {jfjf64} .36
[09:55] {jfjf64} break
[09:56] {Threei}  no go USO
[09:56] {Threei}  need SLW to form closer support for a trade
[10:05] {Threei} Long Setup:  X  .20 break
[10:05] {Threei}  correction, .10 break
[10:06] {Threei}  stop under 46
[10:06] {Threei}  1;1
[10:10] {Threei} Short Setup: RIMM  .70 break
[10:12] {Threei}  X 1:2
[10:13] {Threei}  1:3,, out
[10:18] {jfjf64} slw
[10:19] {jfjf64} dtop
[10:19] {Threei}  RIMM 1:1
[10:19] {Threei}  took its sweet time
[10:21] {Threei}  1:2
[10:24] {Threei}  hmmm.. interview with bank of canada rep ends with this:
[10:24] {Threei}  - Notes that there will be a surcharge on globally systemically important financial institutions
[10:24] {Threei}  idiots win it seems
[10:27] {Threei}  over 1:3, out in full
[10:36] {Threei} Long Setup:  SLW  .60 break
[10:37] {Threei}  stop under .50
[10:39] {Threei}  1;1
[10:40] {Threei}  1;2
[10:40] {Threei}  anyone is awake?
[10:41] {Threei}  third win a row, no single breathe
[10:41] {_rizvisy1} yeah got it thnx
[10:41] {gregns} yup, sure enough
[10:41] {_rizvisy1} out full at .73
[10:41] {patience} up 11.72%, will cut it loose soon unless silver futures keep going up
[10:47] {Threei}  84% Think Its Likely Pakistan Knew Where Osama Was Hiding
[10:47] {Threei}  Just One-in-Five Think They Share The Ideology of the Average Democrat or Republican in Congress
[10:47] {Threei}  lol,l who those reps are representing then?
[10:49] {RonS} well...the people in their district...which is different than those from elsewhere
[11:21] {RonS} channeling l tpc .72  s/l .48
[11:27] {Threei}  not bad channeling
[11:31] {RonS} out tpc .20  +.48
[11:34] {Threei}  nice one dino... errr ron
[11:35] {RonS} ty
[11:39] {RonS} xec action...
[11:54] {gregns} inverted c & h on SLW?
[11:55] {Threei}  looks like
[11:55] {Threei}  but do keep an eye on UUP
[11:55] {Threei}  everything with commodities these days is about USD
[11:57] {Threei}  see?? :)
[11:59] {gregns} ty yup
[12:00] {Threei}  UUP sharp pullback now, SLW bouncing
[12:00] {Threei}  .24 - .36
[12:00] {Threei}  easy scalp
[12:09] {Threei}  wow
[12:09] {Threei}  (GR) Greece could consider leaving the Eurozone and reintroducing its own currency; EC calls emergency meeting tonight - German press citing German govt sources
[12:09] {Threei}  - Eurozone Fin Mins discussing a possible debt restructuring at a highly confidential meeting in Luxembourg Friday; sources say German officials aim to do whatever is possible to prevent Greece from leaving the EMU. German delegation will bring an internal paper to the meeting that warns of dire consequence of Greece leaving the EMU.
[12:09] {Threei}  - Follow up 12:00ET: EU's Juncker's spokesperson denies German press report of an emergency meeting on Greece tonight
[12:10] {Threei}  EU's Juncker's spokesperson denies German press report of an emergency meeting on Greece tonight - financial press
[12:10] {Threei}  - Follow Up: Austria Fin Min calls a Euro zone breakup 'unthinkable.'
[12:10] {Threei}  - France Fin Min can neither confirm or deny report from the German press on emergeny meeting on Greece.
[12:10] {Threei}  stay alert guys...
[12:11] {Threei}  when these things start unraveling, they can unravel with mind-boggling speed
[12:12] {Threei}  that's what pushes USD
[12:12] {Threei}  shorted SLW .30 break again...
[12:12] {Threei}  there was no trigger, pure USD play
[12:17] {davd} greece threatens to lv euro
[12:17] {davd} cnbc
[12:18] {Threei}  ummm
[12:18] {Threei}  davd...
[12:18] {Threei}  take me off ignore, will ya
[12:18] {davd} sorry  speed first
[12:18] {nemo} Greece threatening to leave the Euro zone
[12:18] {davd} they threatened again?
[12:18] {Threei}  third time over last 5 min
[12:19] {davd} 4th is a charm.  (this way greece can default and start over?)
[12:23] {Threei}  - Follow Up; Germany Govt source claims there are no plans for Greece to leave the EMU
[12:23] {Threei}  - Follow Up: Slovak Fin Min notes is unaware of any meeting on Friday
[12:23] {Threei}  - Eurogroup spokesperson comments that EMU ministers are not meeting today or over the weekend
[12:24] {Threei}  just imagine all the phone calls that went all over within last 15 min
[12:34] {Threei}  if this is not just unfounded rumors, this weekend may turn into mayhem
[12:34] {RonS} people citing all of this from a der speigel article...
[12:35] {RonS}
[12:35] {Threei}  yeah
[12:35] {Threei}  funny part:
[12:35] {Threei}  Austria Fin Min calls a Euro zone breakup 'unthinkable.'
[12:35] {Threei}  uhhu
[12:35] {Threei}  so was USSR breakup
[12:36] {RonS} guy's grandfather said the same thing aboutn the nazi invasion of austria
[12:36] {Threei}  some still can't think of it
[12:37] {nemo} Peace in Our Time
[12:38] {Threei}  (GR) Senior Greek central bank official: Denying speculation of Greece potentially leaving the Eurozone; Der Spiegel report on Greece leaving EU is "ridiculous"
[12:39] {Threei}  and not, for the soothing lulaby:
[12:39] {Threei}  (US) US President Obama reiterates that the economy is gaining but challenges remain
[12:40] {Threei}  (EU) Some ministers are visiting Luxembourg to discuss Portugal, Greece, and ECB succession, yet it is not an emergency regarding Greece - financial press citing sources
[12:40] {Threei}  - Follow up: IMF has no comment on report about Greece in Germany press
[12:41] {RonS} eur just busted 1.44
[12:41] {Threei}  UUP skyrocketing
[12:41] {RonS} 1.4374
[12:46] {Threei}  Euro vs US Dollar Fresh session lows below $1.44, breaching 2011 uptrend line; EUR/JPY falls below 115.55 - post Yen intervention Mar 21st resistance
[12:52] {RonS} fcx going for gap fill
[12:58] {davd} bare in mind, greece out of euro would be good for the euro.  kneejerk reaction re uup being up may be wrong.  imo
[12:58] {nemo} I'm not going to bare my mind
[12:59] {davd} you will beer your mind.
[13:00] {Threei}  I dnno davd.. it's too complicated to be qualified as positive or negative without plenty of added qualifiers
[13:01] {nemo} yeah, I'm all for pickling brain matter...mmmhh wonder if Dr. Lechter ever pickled them
[13:01] {davd} i'm skeptical of anything that brings dollar higher :(
[13:01] {Threei}  why.. stop printing new ones and it hnas nowhere to go but up
[13:02] {davd} yes, but we wont
[13:04] {davd} reuters - there is a meeting
[13:07] {RonS} action in nbg makes me wonder///
[13:07] {RonS} ...
[13:07] {Threei}  meanwhile, for soothing news:
[13:07] {Threei}  Ivory Coast's Quattara officially sworn in as President
[13:08] {RonS} the guy's potuguese?
[13:08] {RonS} portuguese
[13:09] {RonS} eur back above 144....144.10
[13:11] {Threei}  rallies in pakistan protesting the raid
[13:11] {Threei}  (GR) Greece Finance Ministry Statement further denies press speculation Greece is considering leaving EMU
[13:11] {RonS} lol
[13:13] {RonS} was agog at actual pictures of what was reported re the "mansion"
[13:13] {davd} animals
[13:13] {RonS} guess i live in a real mansion...
[13:16] {davd} i'm glad that guy burned the koran - stupid, but he is right.
[13:16] {RonS} ad "spam primavera"...guess in Paki it would be a "gourmet dinner"
[13:17] {Threei}  he is an idiot
[13:17] {Threei}  but those who went on streets protesting are not any smarter
[13:17] {Threei}  (GR) German Finance Ministry's Schaeuble and Asmussen are attending the "crisis meeting" in Luxembough - financial press citing German coalition govt source
[13:18] {RonS} .spx back to pre nfp
[13:20] {RonS} The Greek Finance Ministry has rejecting the Der Spiegel article. Says it is 'provocative' and plays to.
[13:20] {RonS}  plays to 'speculative games'
[13:24] {RonS} see an X short 3i?
[13:24] {Threei}  probably
[13:25] {Threei}  there is a chaance of double bottom
[13:25] {Threei}  but breakdown is more likely
[13:25] {Threei}  my concern is:
[13:25] {Threei}  situation is more news-driven than chart-driven right now
[13:25] {Threei}  aanother headline can turn things around
[13:25] {Threei}  for the next 3 min, until new headline comes in
[13:44] {Threei}  Michael Moore rants about Bin laden being "assasinated, not granted fair trial"
[13:45] {nemo} enemy combatant..not a civil
[13:50] {Threei}  hawaii snowstorm warning
[13:50] {Threei}  where is al gore
[13:50] {Threei}  send him there to clean thwe snow
[13:52] {RonS} snow all the time on the volcanoe...meaning regularly...for get the altitude but it is up there
[13:52] {RonS} from base in the ocean the tallest mountain in the world...
[13:53] {RonS} man is rimm w e a k
[13:55] {Threei}  no, snow forecast fo the "normal" hawaii
[13:55] {Threei}  not the observatory heights
[13:56] {RonS} lol there is a normal hawaii?...never seen such a thing
[13:56] {Threei}  hehe... true
[13:56] {RonS} my brother's place on the big island has no heat
[13:56] {Threei}  still, my favorite place on earth
[13:57] {RonS} guess he will have to crank up the plasma tv
[13:57] {RonS} turn on the stove
[13:59] {RonS} surprised rimm not getting more volume here...slow death...
[14:23] {Threei}  looks breakdownish
[14:26] {nemo} crude below 98
[14:34] {jfjf64} ufs
[14:34] {jfjf64} looks down
[14:35] {Threei}  everything does
[14:35] {gregns} isn't SLW dejavu, possible breakdown of lod towards end of day?
[14:35] {Threei}  totally
[14:39] {RonS} flash crash anniv.
[14:39] {jfjf64} yup
[14:39] {jfjf64} -900 p[oints
[14:39] {_rizvisy1} TZA up n up
[14:40] {Threei}  of course it is
[14:40] {Threei}  market is down
[14:41] {_rizvisy1} when the going gets tough, tough gets going
[14:41] {Threei}  whate else can TZA do but go up
[14:41] {Threei}  I dunno... my version is different
[14:41] {Threei}  when the going gets tough, tough shrugs, drinks and goes to the beach, leaving suckers to fight
[14:42] {_rizvisy1} isn't it another reciprocal correlation
[14:42] {_rizvisy1} lolllllllll
[14:42] {_rizvisy1} and its already weekend...
[14:42] {_rizvisy1} n Osama is dead too...
[14:42] {Threei}  TZA is inverse ETF
[14:42] {_rizvisy1} ok
[14:42] {Threei}  it goes up when market goes down by definition
[14:43] {_rizvisy1} it looks like that, isn't it a good opportunity...for trade?
[14:43] {Threei}  only if you have a firm read on the market
[14:43] {_rizvisy1} hummmm
[14:44] {Threei}  if you are sure it goes down, you can play straight ETF long or inverse ETF short
[14:44] {Threei}  ummm... other way around of courzse
[14:44] {Threei}  my brain went on the beach already obviously
[14:45] {_rizvisy1} you are right for long, for this type of market hours
[14:57] {RonS} whatcha think 3i...everything is so correlated right now i see no edge for last hour
[14:58] {Threei}  feels like little bounce, then selling
[14:58] {Threei}  I would probably try this:
[14:58] {nemo} 134.25 on spy is weekly and monthly pivot point with the daily at 133.87...likely to be rangebound unless they want to test yesterday's lows
[14:58] {Threei} Long Setup:  RIMM  46 break
[14:58] {nemo} vwap 134.85
[14:59] {Threei} Long Setup:  SLW  .50 break
[14:59] {Threei}  nothing big, scalp or 1:2
[14:59] {Threei}  both
[15:00] {Threei}  then will start looking for short
[15:03] {Threei}  SLW 1:1
[15:04] {Threei}  RIMM stop to .95, was within 1-2 cents to 1:1
[15:04] {Threei}  so let's make it tighter
[15:05] {jfjf64} comon rimm
[15:05] {Threei}  SLW 1:2, out
[15:05] {jfjf64} gj
[15:05] {Threei}  ty
[15:06] {RonS} gj 3i  thanks
[15:06] {Threei}  :)
[15:08] {gregns} tks for the calls,
[15:08] {Threei}  sure thing
[15:13] {tomg} ty vad
[15:13] {Threei}  yw
[15:14] {Threei}  let's pick a short candidate
[15:14] {RonS} how tall is riz?
[15:14] {Threei}  RIMM seems to be one
[15:14] {Threei}  lol
[15:14] {Threei}  X another
[15:16] {_rizvisy1} 5'9''
[15:16] {Threei} Short Setup: X  .50 break
[15:20] {Threei} Short Setup: RIMM  .95 break
[15:20] {Threei}  if stays under .005
[15:20] {Threei}  .05
[15:24] {Threei}  RIMM not a scalp
[15:24] {Threei}  .85 is last line of defense
[15:24] {Threei}  when losing it there is nothing to hold it
[15:25] {jfjf64} patial there
[15:27] {jfjf64} comon spy
[15:28] {Threei}  it's trying
[15:28] {Threei}  honestly
[15:28] {Threei}  14:58] {Threei} feels like little bounce, then selling
[15:28] {Threei}  like clockwork
[15:28] {Threei}  and calls made accordingly to this read work with nice percentage
[15:29] {Threei}  ok
[15:29] {Threei}  half out RIMM
[15:30] {jfjf64} you want lower rimm
[15:31] {Threei}  I do... thing looks wounded badly
[15:31] {Threei}  look at daily
[15:31] {Threei}  pure unmitigated disaster
[15:32] {_rizvisy1} lol,thats while short works....,How long is Rons.....
[15:36] {jfjf64} hmm
[15:36] {jfjf64} careful rizzy
[15:37] {nemo} wrong chat room
[15:37] {jfjf64} lol
[15:38] {Threei}  lol
[15:38] {jfjf64} instead 3i
[15:38] {jfjf64} 3xxx
[15:38] {_rizvisy1} just replying RonS, he ask how short is Riz?
[15:38] {RonS} lol
[15:39] {nemo} yeah
[15:39] {nemo}  whatever
[15:39] {_rizvisy1} you all know scalpers win
[15:39] {jfjf64} i need drink
[15:39] {jfjf64} happy hour
[15:39] {jfjf64} soon
[15:39] {jfjf64} soon as rimm  pays us
[15:40] {RonS} cap it u late...
[15:40] {RonS} submit to the will of 3i...
[15:41] {RonS} or not...
[15:41] {Threei}  lol
[15:41] {nemo} happy hour started at 11:00
[15:42] {Threei}  .01 stop
[15:43] {Threei}  ok... scalpers win
[15:43] {jfjf64} left  b/e
[15:43] {Threei}  yeah
[15:44] {Threei}  I just wanted to be cute and give it a bit more breathing room
[15:44] {Threei}  ok guys, nice week
[15:44] {RonS} schnitzed $50 out of that fiasco...good 'nuff
[15:44] {Threei}  thank you all
[15:44] {Threei}  have a great weekend
[15:44] {Threei}  see you all on Monday
[15:44] {jfjf64} good day
[15:44] {jfjf64} ty
[15:45] {larisa} bye :)
[15:52] {_rizvisy1} Great weekend all bye