Tuesday, November 9, 2010

Nov 09 2010

There is a little twist to the familiar theme in this trade. Readers are well familiar by now with our way to hunt for long entry after a selloff. In this particular case, the range after selling (47 - 47.10) was established for just two-three bars on 1 min chart. Generally it's not enough to provide a solid setup, but we got some additonal confidence from two doji stars topping out at the top of the range ($47.10). Doji signify indecision of buyers and sellers, and break of the doji high is good sign of bulls winning. By itself it would not be enough to trigger our trade – but doji highs coinciding with the range high provided us with enough confidence for a trade. Chart tells the rest of the story.



Session Time: Tue Nov 09 00:00:15 2010
[08:11] {kowboy} .
[08:34] {Threei}  Icagen, Inc. Reports Q3 -$0.04 v -$0.60 y/y, R $4.5M v $2.2M y/y
[08:34] {Threei}  ICGN
[08:52] {_flautero} hi, good morning/ afternoon
[08:53] {Threei}  good morning
[09:00] {Les} afternoon all
[09:00] {Threei}  les :)
[09:00] {Les} hey vad :9
[09:00] {Les} :)
[09:00] {Les} that's better
[09:01] {Threei}  (US) FDIC staff propose charging large banks for increased deposit insurance fund
[09:03] {RonS} toto el mundo amigos
[09:03] {Threei}  ron :)
[09:04] {RonS} nflx smacks akam
[09:06] {davd} hi all - blue skies
[09:06] {_flautero} DF under support
[09:07] {Threei}  davd :)
[09:10] {ese} morning....apologies to all for leaving the board without say bye......was one of them busy days yesterday
[09:13] {_flautero} RRC
[09:13] {Threei}  ese :)
[09:14] {larisa} gm :)
[09:15] {Threei}  larisa :L)
[09:15] {ese} laris
[09:16] {larisa} vad, ese :)
[09:16] {Les} you've got something stuck on your nose vad
[09:16] {jfjf64} mornin
[09:17] {Threei}  jf :)
[09:20] {dino} gm all
[09:20] {ese} jf dino
[09:21] {Threei}  dino :)
[09:21] {jfjf64} ESE
[09:21] {Les} hey dino, nice catch there at end of day
[09:21] {Les} WCRX
[09:23] {dino} ty
[09:23] {dino} akam, ihg, df
[09:26] {Les} news DF vad?
[09:26] {Threei}  Dean Foods Company Reports Q3 $0.13 v $0.21e, R $3.1B v $3Be; CFO to resign, effective Nov 30th
[09:26] {Threei}  - Guides Q4 $0.13-0.18 v $0.26e
[09:27] {_flautero} LDK novice gap?
[09:27] {khaln} g morning
[09:27] {Threei}  khaln :)
[09:28] {Threei}  LDK Solar Co LTD ADR Reports Q3 $0.72 v $0.43e, R$676M v $628Me
[09:28] {Threei}  Guides Q4 Rev $710-750M v $594Me
[09:30] {RonS} Panderer in chief: Obama Says Expanding Indonesia Trade Is Crucial for U.S. Jobs
[09:30] {Les} yeh plenty of terrorism they can import from Indonesia
[09:31] {Threei} Long Setup:  LVS  .70 break
[09:31] {Threei}  if stays above .60
[09:32] {ese} in
[09:32] {ese} .72  just caught it
[09:33] {davd} in lvs .7
[09:33] {Threei}  1:1 touched but way too fast for exit
[09:33] {ese} yup
[09:33] {Les} ldk
[09:33] {ese} stopped .64
[09:33] {Threei}  no go
[09:34] {Les} LDK off a cliff
[09:34] {ese} yup
[09:34] {Threei}  LDK big smakdown
[09:34] {_flautero} anybody did LDK?
[09:34] {_flautero} SHORT NOVICE GAP
[09:34] {Les} just watchin
[09:36] {ese} not i
[09:36] {Threei} Short Setup: RIMM  .70 break
[09:37] {Threei}  1:1
[09:37] {Threei}  wacthing X for bounce
[09:38] {Les} lol hesitate .60 UEC short
[09:38] {Les} hesitated
[09:38] {Threei} Long Setup:  X  .65 break
[09:38] {Threei}  if holding .55
[09:39] {Threei}  invalidated
[09:40] {Threei}  (US) Preview: Nov IBD/TIPP Economic Optimism Index due out at 10:00ET
[09:40] {Threei}  (US) Preview: Sept Wholesale Inventories due out at 10:00ET
[09:43] {Threei} Short Setup: CAT  .80 half lot
[09:44] {davd} out wcrx .55 (prior day)
[09:44] {Les} nice
[09:45] {Threei}  if stays under .95
[09:46] {davd} out lvs .37 stopped
[09:47] {Threei}  hmm??
[09:47] {davd} i was slow...
[09:48] {dino} kra sm l .01, stop .73
[09:49] {Les} missed db DF frikin kids homework
[09:50] {jfjf64} AKS
[09:50] {Threei}  CAT stopped
[09:50] {jfjf64} BOUNCE
[09:50] {dino} relax les
[09:50] {Les} :)
[09:50] {nemo} duct tape Les
[09:50] {Les} how do I do pictorial representation of the finger?
[09:51] {dino} krastopped -.29
[09:52] {Threei} Long Setup:  X  .10 break
[09:53] {Threei}  if holding 47 for scalpers, .95 day traders
[09:53] {Threei}  1:1 scalpers
[09:54] {jfjf64} ty
[09:54] {Threei}  1:1 day traders
[09:55] {Threei}  1:2, out
[09:55] {jfjf64} kudod  to  3i
[09:55] {jfjf64} kudos
[09:55] {Threei}  there had to be fish somewhere...
[09:56] {Threei}  1;3... oh well
[09:58] {_flautero} wow X!
[09:59] {jfjf64} mama  mia
[09:59] {jfjf64} x
[10:00] {Threei}  *(US) SEPT WHOLESALE INVENTORIES: 1.5% V 0.7%E
[10:00] {Threei}  *(US) NOV IBD/TIPP ECONOMIC OPTIMISM: 46.7 V 47.0E
[10:01] {davd} kra stopped
[10:04] {Threei}  over a buck, believe it or not
[10:04] {Threei} Short Setup: RIMM  .55 break
[10:05] {dino} lrn sm l .19 stop .83
[10:08] {dino} mblx
[10:11] {dino} pwer
[10:12] {ese} am in pwer for a week now
[10:12] {dino} sm l rkt .74 stop .47
[10:13] {ese} building a position........could be a ery nice christmas
[10:13] {ese} very
[10:13] {dino} was a good report
[10:13] {ese} yup
[10:14] {ese} am also swing L crus at .72 now
[10:14] {ese} from yesterday
[10:15] {Les} dino stop rkt .47 or .67?
[10:15] {dino} .47
[10:15] {dino} gets to 53, move to flat
[10:16] {Les} ok
[10:20] {ese} huh......usmilitarysingles.com.......sure is interesting the stuff that appears at the top of this mibit.com site
[10:21] {Threei}  lol
[10:21] {Threei} Long Setup:  GLD  .85
[10:21] {ese} started that up for nemo maybe?
[10:21] {Threei}  if stays above .75
[10:22] {Threei}  (CH) Chinese rating agency Dagong Global Credit downgrades US sovereign credit rating to "A+" from "AA" citing QE2 program (update) - Chinese press
[10:22] {Threei}  uh oh
[10:22] {Threei}  shot across the bow eh
[10:22] {Les} yeh but no one listens to Chinese credit agencies.... yet
[10:22] {ese} ouuuuuu
[10:22] {RonS} but its da gong Les
[10:22] {_flautero} whohooo qqqq
[10:23] {ese} and who is da gong may i ask
[10:23] {Threei}  no chance GLD?
[10:23] {Les} yes some credibility issues to boot Ron
[10:23] {ese} that was an old tv show wasn't it.....Da Gong Show
[10:24] {RonS} John McGlaughlin's Mahavishnu Orchestra would open up with a gong...freakin awesome...Billy Cobham was the drummer ese.  What a stud.
[10:25] {Threei}  GLD on the run
[10:27] {ese} that was a great album by Paul Mcartney......"Gold on the Run"   or was that "Band on the Run"
06[10:27] * nemo slaps ese around a bit with a large turntable
[10:28] {RonS} lol
[10:28] {RonS} Dual wood base
[10:28] {ese} i've got a couple of Mahavishnu albums.....love em
[10:28] {Les} I've heard about vinyl
[10:28] {ese} lol
[10:29] {Les} you guys be showin your age
[10:29] {nemo} better sound actually on good systems
[10:29] {RonS} no kidding...McGlaughlin was great , but he would get on a riff and just beat it to death...
[10:29] {ese} nemo/les.......somebody slap the man.....rather young whipper snapper!
[10:29] {ese} yup
06[10:29] * nemo slaps Les around a bit with a large case of ipods
[10:30] {ese} lol
[10:30] {nemo} how about this...
[10:30] {RonS} ...but Coabhan was a sight to behold...the guy was relentless and just tireless
[10:30] {RonS} Cobham
06[10:30] * nemo slaps Les around a bit with a large discwasher
[10:31] {RonS} that is really funny...he has no idea what it is...
[10:32] {Les} you mean spit and cloth ain't the way its done?
[10:32] {nemo} nope
[10:32] {ese} man........young whipper snapper......
[10:32] {nemo} whipper snapper was not the term of which I was thinking
[10:33] {ese} get out there and get yourself a Harmon Kardon turntable buddy....belt driven no less
[10:33] {nemo} oy vay...I'll take a sota thank you
[10:33] {Les} out .88 rkt market weakening
[10:33] {ese} rotflol
[10:33] {nemo} solr interesting chart
[10:34] {Les} s ldk .44
[10:34] {Les} stop above .55
[10:35] {Threei}  GLD, waithing for bounce from under .70
[10:35] {dino} gj les
[10:35] {Les} cover ldk +.10
[10:36] {nemo} cat interesting pivot at .02
[10:36] {nemo} not gonna' make it
[10:38] {Threei}  did
[10:42] {Threei}  getting inetersting
[10:42] {Les} $ spke
[10:42] {Les} spike
[10:42] {_flautero} nice les ldk
[10:42] {Les} ty
[10:47] {Threei}  looking for GLD entry
[10:48] {Threei} Long Setup:  GLD  .55 break
[10:49] {Threei}  half out
[10:49] {Threei}  scalpers take profit
[10:49] {Threei}  offering 1/4 more /74
[10:49] {Threei}  .74
[10:52] {Les} URA uranium ETF begins today or so it looks like
[10:54] {RonS} Iran running it?
[10:54] {Les} well with investment funds mixed up in US politics now, wouldn't surprise me
[10:55] {Threei}  offering last portion .81
[10:55] {Threei}  URA started tgrading yesterday
[10:56] {Les} yeh I am shorting one of its holdings i think
[10:56] {Les} s UEC .64 stop above .75
[10:57] {_flautero} TYC long .80 stop .60
[10:57] {Threei}  you asll ignored GLD or what?
[10:57] {Threei}  was the easiest play yet
[10:58] {_flautero} gld was nice
[10:58] {_flautero} my trading plan dont let me trade stocks of more than 100 per share :)
[10:59] {_flautero} LOGI
[10:59] {Threei}  why not jujst cut share size
[10:59] {Threei}  price of a stock doesn't matter much
[11:00] {_flautero} yep, but in my trade analysis 98% of my stops were stocks above 100 :(
[11:01] {_flautero} or stocks under 9.00
[11:02] {Threei}  out in full
[11:03] {_flautero} nice play threei congrats
[11:03] {dino} gj
[11:04] {Threei}  ty
[11:14] {Les} UEC stopped.
[11:14] {Threei}  (IA) Iran Foreign Ministry: Nuclear issue will not be discussed in proposed talks with the major powers (related GAF GLD USO )
[11:15] {Les} backed the wrong horse. URA was the short
[11:23] {_flautero} out TYC here
[11:23] {_flautero} half stop, because the market are very weak
[11:26] {Les} $ starting to run
[11:26] {dino} enoc sm l .75, stop .47
[11:29] {_flautero} LOGI short here stop lod
[11:30] {_flautero} hod sorry
[11:32] {Threei}  moment of truth is coming
[11:32] {Threei}  breakdown or range
[11:35] {Threei}  AKAM Hearing a NFLX spokesperson noting satisfcation with the AKAM service, and continuing the multi vendor strategic (35.25, -0.37, -1.04%) (related LVLT )
[11:40] {ese} L akam .11
[11:41] {ese} 1/2 out 22
[11:43] {ese} that 11:40 provided a good opportunity
[11:43] {ese} candle stick bar
[11:44] {ese} stopped remainder break even
[11:46] {Threei}  sheesh LOGI
[11:46] {Threei}  train
[11:46] {nemo} akam pulling back
[11:47] {ese} L akam .60
[11:47] {ese} 1/2
[11:47] {RonS} logi at investor conference...must have been a good dog & pony show
[11:49] {ese} out akam .92
[11:49] {ese} +.32
[11:49] {_flautero} nice ese
[11:49] {ese} tks
[11:49] {Threei}  Q: How do we know when the global warming is here?
[11:49] {Threei}  A: when GW-related taxes exceed work-related income
[11:49] {Threei}  lol
[11:52] {ese} L akam .61
[11:53] {ese} 1/2
[11:54] {ese} l another 1/2
[11:55] {ese} avg .67
[11:56] {Threei}  breakdown it is
[11:57] {ese} out .77 +.10
[11:57] {ese} was looking weak
[11:57] {Threei}  USD over yesterday's high
[12:02] {ese} L .29
[12:02] {ese} out .44
[12:03] {ese} +.13 nice full lot there
[12:03] {nemo} 2k shares ese?
[12:03] {ese} 1k on that one
[12:03] {nemo} ahhh
[12:03] {ese} .67 to .77 was 2k
[12:06] {ese} L .50
[12:08] {ese} stop to break even
[12:08] {ese} daaaaaaaa stopped .48 -.02
[12:08] {Threei}  market is too weak
[12:09] {ese} baaaaaaaaasttttttaaaaaaadddd
[12:09] {Threei}  lol
[12:09] {Threei}  now tell us how you really feel
[12:09] {ese} definitely a case of going to the well to many times
[12:09] {Threei}  7011.JP Mitsubishi Heavy, Sojitz and China National Chemical plan to build a chemical factory in Russia worth $1.06B - Nikkei News
[12:09] {Threei}  Russia: huh?
[12:10] {ese} auch du miya.......look at it.......daaaaaaa....time to start drinkin
[12:10] {Threei}  oops... just now?
[12:10] {Threei}  HAL EPA reportedly subpoenas Halliburton for information related to chemicals used in gas drilling after the company failed to produce the information (update) (33.71, +0.28, 0.84%)
[12:12] {ese} L .67
[12:13] {ese} hmmmm didn't have to put the stop in.......lets see what happens
[12:14] {ese} L 52 avg .57
[12:14] {Threei} Short Setup: RIMM  .45
[12:14] {ese} don't try this at home
[12:15] {Threei}  if stays under .55
[12:15] {Threei}  two sided setup most likely
[12:16] {Threei}  (CA) BoC's Carney: Expecting the global financial system to begin to look more like Canada's; no comment on monetary policy (related USD/CAD EWC RY )
[12:16] {ese} out ,69
[12:16] {Threei}  all bankeres must learn to say "eh"
[12:16] {ese} +.12
[12:17] {ese} oh ya sure.....jump up there ya son of a............
[12:17] {Threei}  - Highlights G20 members feel management and shareholders of Banks must endure the loss of financial crises and not the taxpayers of a country
[12:18] {ese} ya man !!!!!!!! i had had to endure that .02 loss a few minutes ago....why can't they
[12:19] {Threei}  whoa
[12:19] {ese} holy you know what ...look at it go......man and i was long k
[12:20] {ese} ah well .12 is better than no bird in the bush
[12:20] {Threei}  was it a ceisure or what
[12:20] {ese} lol
[12:20] {ese} adiction!!!!!! man!!!!!! adiction!!!!1
[12:20] {Threei}  seriously, a dollar spike out of nowhere, lol
[12:20] {Threei}  followed by 50 cents drop
[12:21] {ese} squeezing rubber band around left arm and trying to inject a computor......
[12:21] {ese} here
[12:21] {ese} damn!!!1 wheres Mav and Ice when you need them?
[12:22] {Threei}  Cuban Long Awaited Communist Congress is Scheduled for April
[12:22] {Threei}  finally... I was starting to worry
[12:23] {ese} your a funny guy vad....funny guy
[12:23] {Threei}  dunno... Les doesn't think so
[12:25] {RonS} only w/ the Soviet jokes 3i...those are b a d...
[12:26] {Threei}  you think soviet jokes are bad, you should try soviet living
[12:33] {dino} .
[12:33] {_flautero} lol
[12:37] {_flautero} RIMM
[12:42] {Threei}  1:1
[12:42] {_flautero} 1:1 RIMM thanks threei
[12:42] {Threei}  welcome
[12:42] {Threei}  sorry... welkome is right spelling
[12:43] {Threei}  1:2
[12:44] {_flautero} :)
[12:50] {ese} L akam .01
[12:51] {nemo} lvs short?
[12:53] {_flautero} lvs
[12:53] {_flautero} LVS is a dobble top
[12:54] {_flautero} .10 stop .15 dor me
[12:54] {nemo} peak a 10:45 and 11:05 also
[12:54] {Threei}  don't view it as short
[12:55] {_flautero} yeah invalidated
[12:55] {_flautero} difficult day
[12:56] {_flautero} im green just 2 rs :/
[12:56] {_flautero} lvs
[13:01] {dino} mblx sm l .00, stop .73
[13:01] {Threei}  *(US) TREASURY'S $24B 10-YEAR NOTE AUCTION DRAWS 2.636%; BID-TO-COVER RATIO: 2.8 V 3.04 PRIOR AND 2.89 OVER THE LAST 3 AUCTIONS
[13:04] {Threei}  Indirect bidders take 56.6% of competitive bids; 9.37% direct bidders, primary dealers take 34%
[13:04] {Threei}  - 60.54% allotted at the high
[13:04] {Threei}  - Median 2.559%, low 2.50%
[13:09] {_flautero} LOGI wow
[13:11] {nemo} idiot me, remember what I said about LVS resistance at .25
[13:15] {dino} sm l rkt .52 stop .19
[13:15] {dino} stop .17
[13:25] {dino} zzzzzzzzzzz
[13:29] {dino} back in hour or so, hard stops in
[13:34] {nemo} rimm volume spike long candle
[13:37] {nemo} big offers 55
[13:37] {nemo} suport at .95
[13:38] {nemo} holding on this drop
[13:39] {Threei}  LOGI is totally oblivious
[13:40] {ese} choir time....catch you all tomorrow
[13:40] {Threei}  take care ese
[13:40] {nemo} wow, buyer rimm 55
[13:43] {_flautero} yhoo
[13:52] {Threei} Long Setup:  TNA  .80
[13:52] {Threei}  half lot
[13:52] {Threei}  if stays above .65
[13:53] {Threei}  1:1
[13:53] {Threei}  nice and easy
[14:01] {Threei}  everyone's asleep?
[14:01] {nemo} no
[14:06] {_flautero} lol
[14:15] {Threei}  1:3
[14:16] {Threei}  or 1:4
[14:16] {Threei}  I lst count
[14:32] {kowboy} ggp
[14:34] {kowboy} got 23c ggp
[14:34] {Threei}  and didn't share?
[14:35] {Threei}  you will have to return it
[14:35] {davd} i'll take 1/3
[14:35] {Threei}  General Growth Properties New GGP files to offer 135M shares in further details of upcoming IPO - filing
[14:35] {Threei}  - This is an offering of 135,000,000 shares of common stock of New GGP, Inc. All of the shares of common stock are being sold by New GGP
[14:36] {kowboy} I called above but 2 quick, just punch buy button
[14:37] {Threei}  I dunno... as far as I am concerned, it's lame excuse, and he does have to return it
[14:37] {Threei}  what do you think guys?
[14:37] {dino} .
[14:38] {kowboy} ok sorry
[14:38] {Threei}  dino makes a good point here
[14:38] {Threei}  nash, sorry doesn't cut it... haven't you heard, we are all sharing everything now
[14:38] {Threei}  GS weill share its wealth with us any day now
[14:38] {Les} alright vad, hand over yer profits
[14:39] {Threei}  I share
[14:39] {Threei}  look:
[14:39] {Threei}  13:52] {Threei} Long Setup: TNA .80
[14:39] {Threei}  that's sharing
[14:39] {Les} RIMM read?
[14:39] {Threei}  none
[14:41] {kowboy} How about market ggp falling knife, take ur chances?
[14:42] {Threei}  very confusing for simple-minded me
[14:42] {Threei}  just tell me where to buy
[14:42] {dino} meli
[14:51] {davd} iin meli .38 sm
[14:51] {dino} meli sm l .53
[14:52] {_flautero} crazy man srepad 8 cents lol
[14:53] {dino} lol
[14:53] {Threei}  nice entry davd
[14:54] {davd} it was you dino
[14:56] {dino} ok
[14:59] {davd} stop on meli dino?
[14:59] {Threei}  (CH) China President Hu: International financial system must be reformed, stronger market surveillance is needed
[14:59] {Threei}  - China will do all it can to reach consensus at the G20
[15:02] {dino} .23
[15:03] {davd} thx
[15:06] {khaln} .
[15:07] {dino} np
[15:07] {davd} i'm assuming you don't mean neenah paper
[15:08] {Threei}  (JP) Finance Ministry to allow the central bank to cut back capital to the treasury if losses on asset purchase program exceed 5T - Japan press (related USD/JPY JGB EUR/JPY )
[15:11] {nemo} tivo
[15:12] {davd} uup hod
[15:13] {davd} omg look at uup
[15:13] {nemo} lvs short break .35?
[15:13] {Threei}  told ya
[15:13] {Threei}  may times
[15:14] {Threei}  but nooo... no one believed me
[15:14] {_flautero} omg TIVO
[15:14] {davd} yes, but will the correlation remain?
[15:14] {nemo} it's working today
[15:14] {davd} i.e wii.e. will it matter
[15:14] {Threei}  that's the next step
[15:14] {Threei}  Dollar setting fresh session highs against some of the major pairs (related EUR/USD GBP/USD USD/JPY )
[15:15] {Threei}  I see no news TIVO
[15:15] {dino} tivo,dvr argue over patent appeal
[15:15] {dino} echostar
[15:15] {nemo} bid lvs .40
[15:16] {RonS} ...people are gaming the case during arguments...
[15:16] {dino} 14:22 posted
[15:17] {dino} sm l .75
[15:17] {dino} stop is .47
[15:17] {dino} pall drop
[15:19] {Threei}  TIVO Hits fresh session lows following meeting of lawyers in battle against DISH; hearing JP Morgan now making comments favorable towards DISH (timing uncertain) (60.86, -0.73, -1.19%) (related DISH )
[15:19] {Threei}  found it
[15:19] {Threei}  12:58
[15:22] {dino} tivo stopped
[15:23] {RonS} tivo sm l .52
[15:25] {Les} Aikido stuffed me. off to bed. c u's tomorrow
[15:25] {dino} tivo right to my stop and bounces
[15:26] {Threei}  take care les
[15:27] {dino} cya les
[15:28] {nemo} $ even stronger
[15:29] {RonS} da gong signal
[15:31] {Threei}  lol
[15:35] {dino} back in ten
[15:39] {RonS} out tivo flat
[15:39] {RonS} sheesh
[15:41] {Threei}  look atthe dollar
[15:41] {davd} out stopped meli
[15:43] {nemo} spy hit pivot support
[15:43] {davd} out uup .44 (prior day)
[15:46] {nemo} well, if we're going to get short covering, now is the time, but I doubt it with the $ so strong
[15:46] {Threei}  I doubt it too
[15:47] {Threei}  not on any significant scale anyway
[15:49] {dino} wow step away we drop to -100
[15:50] {dino} lots of stops for me today
[15:53] {nemo} o.k. I'm done, stick a fork in me (good thing Les is gone ;))
[15:54] {Threei}  lol
[15:54] {larisa} got FCX 102 -  102.30  what an animal :)
[15:54] {larisa} bye nemo :)
[15:54] {dino} out mblx +.05. everything else was stopped
[15:55] {Threei}  nice larisa
[15:56] {RonS} ok. c u's manana.
[15:58] {_flautero} good bye have a nice night all:)
[15:58] {Threei}  thank you all
[15:58] {Threei}  have a good evening, see you tomorrow
[15:58] {larisa} see you :)