That was very inactive day with few trades. The best of them also made a Catch of the Day.
This trade is one of more elegant ways to play the reversal. Having traded X earlier on a long side, we started looking for short entry after an extended run. X formed little JBE mini-range between 47.90 and 48 - too brief for a confident trade. What helped though was a Doji annotated on the chart. Break of the Doji low coinciding with break of the mini-range low is pretty good reversal indication, and it worked for a nice 1::3 risk-reward. Target of .60 -.65 was called in advance as that area presented reasonable support on the intraday chart.
Session Time: Fri Nov 19 00:00:00 2010
[08:35] {RonS} gm all...u just can't make this stuff up: http://tinyurl.com/2fu2b9o
[08:36] {Threei} lol, saw it on TV yesterday
[08:36] {Threei} that story really gone viral
[08:37] {davd} hi all :D
[08:38] {Threei} davd :)
[08:39] {davd} 3i, for the most part, i use bollinger bands as the basis for starting to decide if i will trade a stock.
[08:39] {davd} do you use one main indicator?
[08:39] {Threei} no
[08:39] {Threei} chart formations is my bread and butter
[08:40] {davd} price and volume?
[08:40] {Threei} yes
[08:41] {davd} lvs yesterday, buy early on the high volume and sell when it tapered
[08:42] {Threei} didn't we short LVS yesterday?
[08:42] {Threei} http://tradinglog.realitytrader.com/
[08:43] {davd} actually, yes, the opposite !
[08:43] {Threei} it's not that simple
[08:43] {Threei} chart needs to form certain things
[08:44] {Threei} in both price and volume
[08:44] {davd} ii
[08:45] {Threei} there is full explanation of that and much more in TTR and MPP
[08:46] {Threei} and at the very least, you know that as a room member you have free access to online course?
[08:48] {davd} TTR and MPP - will re-read this. thanks
[08:53] {jfjf64} mornin
[08:53] {Threei} jf :)
[09:01] {dino} gm all
[09:01] {Threei} dino :)
[09:12] {RonS} hibb...low vol, pulp short squeeze? 5.2 mil sh short...18 days to cover on normal volume
[09:13] {Threei} Hibbett Sporting Goods Inc. Reports Q3 $0.44 v $0.38e, R$167.4M v $162Me
[09:13] {Threei} - Guides FY11 EPS $1.63-1.66 v $1.54e, SSS (prior $1.45-1.55, SSS "mid to high single digit increase" on 20st Aug)
[09:13] {Threei} - Guides Q4 $0.41-0.50 v $0.43e, SSS increase in mid-single-digit
[09:14] {RonS} Hibbett Sports Expects To Open 40-42 New Stores For FY11 HIBB 11/19 04:32 AM
[09:16] {RonS} wynn whack overnight
[09:16] {Threei} doesn't weigh on LVS though
[09:17] {dino} wynn dividend
[09:17] {RonS} story is that "some" question their cash flow...sounds like a short pressing a story...
[09:17] {dino} 8/sh
[09:19] {RonS} i don't see that dino...???
[09:20] {ese} guten auben
[09:20] {Threei} ese :)
[09:20] {larisa} gm :)
[09:20] {nemo} what are you trying to say ese?
[09:20] {ese} vad alris
[09:20] {Threei} larisa :)
[09:20] {ese} laris
[09:20] {larisa} vad, ese :)
[09:21] {ese} dude
[09:21] {RonS} herestoo snorten
[09:21] {nemo} dude
[09:21] {nemo} is it a full moon?
[09:21] {ese} ya ya that was it
[09:21] {dino} gm in 33s
[09:22] {dino} ron, real$ has it, ex div 8/share
[09:22] {Threei} yeah dino, with all the loud proclamation of success
[09:24] {RonS} crm p/e 210...lol
[09:25] {RonS} options boys had this one way wrong...priced yest for $8 move
[09:26] {RonS} dino, opinion hrbn?
[09:27] {RonS} tempting to me but that Chinese bank reserve raise could be a real buzz kill
[09:28] {dino} none
[09:29] {dino} watching mtb,brk/b, ntrs, itri, jks, meli, petd, rost, bhp, adsk, bcsi
[09:31] {jfjf64} F
[09:32] {jfjf64} LOW
[09:32] {jfjf64} IGNOR PLS
[09:32] {jfjf64} low
[09:32] {dino} lol
[09:33] {jfjf64} oh boy every symbol i hit on scanner comming into room
[09:33] {jfjf64} cd be problem
[09:33] {jfjf64} lol
[09:33] {jfjf64} let me try
[09:33] {jfjf64} slv
[09:34] {jfjf64} comon
[09:34] {Threei} wrong linking
[09:34] {jfjf64} yes
[09:34] {jfjf64} tao
[09:34] {Threei} Short Setup: RIMM .80 break
[09:35] {jfjf64} hold .95
[09:35] {jfjf64} ??
[09:35] {Threei} if sets up from here, yes
[09:35] {jfjf64} ty
[09:36] {jfjf64} rf
[09:36] {jfjf64} need to log off
[09:36] {nemo} setting up as two way now
[09:36] {nemo} imo
[09:37] {Threei} took aggressive with stop above 57
[09:37] {jfjf64} pfe
[09:37] {ese} i've been watching low for a few days now as well jf......that thing is bound to break out of that range...to the upside imo.....it had a very good Q
[09:37] {Threei} could be, yes
[09:37] {nemo} yep
[09:37] {Threei} no go
[09:38] {jfjf64} rf
[09:38] {Threei} LVS
[09:38] {Threei} .05 long
[09:38] {Threei} if holding .95
[09:38] {Threei} invalidated
[09:39] {Threei} went for RIMM long or too fast?
[09:39] {nemo} popped on me
[09:39] {nemo} I'm not fast
[09:39] {dino} mtb luv
[09:40] {jfjf64} SYMC
[09:40] {jfjf64} SORRY GUYS
[09:40] {dino} itri sm l .70 ave, gappy
[09:41] {nemo} lvs bounce area
[09:41] {jfjf64} yhoo
[09:42] {dino} crm crazy
[09:42] {dino} planters peanuts good
[09:43] {dino} ouch jks more blood again
[09:44] {dino} wsm holds well
[09:44] {RonS} crm...is it 1999?
[09:45] {jfjf64} vxxemc
[09:45] {ese} i'm still long fitb .22 from yesterday......i like what it's doin
[09:46] {jfjf64} what a mess
[09:46] {dino} ?
[09:47] {jfjf64} my scanner external linkin every time i click on sym going into room
[09:48] {Threei} watching X for bounce
[09:48] {dino} gremlins
[09:48] {jfjf64} tao trader doesnt get angry
[09:48] {Threei} from .40 - .45
[09:49] {Threei} market spike...
[09:49] {Threei} may not get there
[09:49] {dino} wsm sm l .00
[09:49] {dino} stop .79
[09:50] {nemo} spy testing yesterday open
[09:50] {Threei} Long Setup: X .55 break if holding .45
[09:52] {jfjf64} BTU
[09:53] {larisa} now we know all jf secrets :)
[09:53] {jfjf64} lol
[09:54] {Threei} Short Setup: RIMM .80 break
[09:54] {Threei} half lot
[09:54] {jfjf64} gonna log out see ya
[09:54] {jfjf64} not yet
[09:56] {jfjf64} holdin .95
[09:57] {Threei} .90 break aggressive, trying once again
[09:58] {Threei} come on, lose that support
[09:58] {jfjf64} good man
[09:59] {Threei} no go
[09:59] {Threei} got too greedy
[09:59] {Threei} that spike down was for scalping
[09:59] {Threei} but no, I wanted big drop
[10:00] {larisa} messing with both borders of the range, RIMM
[10:02] {dino} bcsi sm l .75 stop .49
[10:05] {jfjf64} wynn movin
[10:05] {jfjf64} wow nflx
[10:05] {jfjf64} all fixed here
[10:08] {jfjf64} no one talkin to me
[10:08] {jfjf64} not even larisa
[10:09] {larisa} what am I, last resort ? :)
[10:09] {jfjf64} no ya the nice one from the group
[10:09] {dino} a bit person on all fixed
[10:09] {dino} oersonal
[10:09] {larisa} lol
[10:09] {dino} p-
[10:09] {dino} myudth
[10:09] {Threei} rofl
[10:10] {jfjf64} ahh
[10:10] {jfjf64} les wher are ya
[10:11] {jfjf64} armh
[10:11] {jfjf64} 5 min hart like little
[10:13] {jfjf64} wdc
[10:13] {jfjf64} .72 break
[10:13] {Threei} X worked nicely, but only after invalidation
[10:14] {davd} yes, by .01 re x :/
[10:14] {dino} 'mtb sm l .75
[10:14] {Threei} original idea of .40 - .45 being entry zone was right
[10:14] {Threei} better than stop anyway, but still
[10:17] {dino} bcsi to .00, itri to .04
[10:17] {ese} L stx 68
[10:17] {Threei} 99 break
[10:17] {Threei} half lot
[10:18] {Threei} if stays above .90
[10:18] {jfjf64} ??
[10:18] {jfjf64} x
[10:18] {Threei} FCX
[10:18] {Threei} Long Setup: FCX 99 break
[10:18] {jfjf64} happy hour 3i
[10:19] {Threei} invalidated
[10:19] {dino} wsm to .15
[10:19] {Threei} what is it today
[10:19] {Threei} no trade triggers
[10:19] {dino} out +.15
[10:19] {Threei} we broke Monday curse and Big gap up curse this week
[10:19] {Threei} now we have to deal withg Friday invalidation curse
[10:20] {dino} out itri +.34
[10:20] {jfjf64} in stx
[10:20] {jfjf64} .75
[10:20] {nemo} op ex likely range day
[10:20] {jfjf64} go ese
[10:21] {ese} tks....did you see my comment on LOW earlier
[10:22] {jfjf64} out
[10:22] {jfjf64} +8 cents
[10:22] {ese} i've been watching low for a few days now as well jf......that thing is bound to break out of that range...to the upside imo.....it had a very good Q
[10:22] {dino} gj
[10:22] {jfjf64} ese gj
[10:22] {Threei} Long Setup: X .40 break
[10:22] {Threei} if stays above .30
[10:22] {dino} low was light es
[10:23] {jfjf64} in
[10:23] {jfjf64} .42
[10:23] {nemo} given today maybe scalp?
[10:24] {jfjf64} y
[10:24] {jfjf64} .50
[10:24] {nemo} take at .39
[10:24] {nemo} .49
[10:24] {jfjf64} ton
[10:24] {nemo} yeah
[10:24] {Threei} still...
[10:24] {Threei} should break this
[10:24] {ese} hmmmmm tks dino
[10:25] {nemo} predicting the future their vad?
[10:25] {Threei} half out .49
[10:25] {nemo} good boy
[10:25] {Threei} really want to give it a chance
[10:25] {jfjf64} .47
[10:25] {jfjf64} out
[10:25] {Threei} market drops though
[10:25] {Threei} whatever, justg playing by the book
[10:25] {Threei} half out, stop trailed
[10:26] {Threei} let the procedure work
[10:26] {Threei} out balance
[10:26] {Threei} LVS
[10:26] {dino} out bcsi .12, +.37
[10:26] {Threei} waitching for bounce entry
[10:27] {jfjf64} i will ty
[10:27] {jfjf64} x
[10:27] {jfjf64} +5cents
[10:27] {jfjf64} my kids gettin peanut butter /jelly tonight
[10:28] {jfjf64} .10
[10:28] {dino} lol
[10:28] {ese} sorry...i'm 1/2 out stx at .86...forgot to post
[10:28] {Threei} LVS 48 break was scalpable...
[10:29] {nemo} look at this spy range developing
[10:29] {dino} "under pressure" just played, cool trading song
[10:30] {jfjf64} lol
[10:30] {jfjf64} x
[10:30] {nemo} Queen?
[10:30] {jfjf64} break down 3i
[10:32] {jfjf64} in
[10:32] {jfjf64} .39
[10:32] {ese} call it the profit killer nemo.....
[10:32] {jfjf64} die
[10:33] {jfjf64} out
[10:33] {jfjf64} .44
[10:33] {dino} y nemo
[10:35] {dino} itri reload .15 sm l
[10:36] {Threei} sheesh LVS
[10:37] {nemo} cute ese
[10:38] {ese} stopped break even on balance of stx
[10:38] {ese} profit killer? i liked it
[10:38] {dino} all green
[10:38] {dino} scanners that is
[10:40] {Threei} not getting rythm today
[10:40] {ese} thought you were talking about your environmental stance
[10:40] {dino} itri to .19
[10:41] {Threei} yeah, dino is youtr typicasl tree hugger, lol
[10:41] {dino} yeah, right, me the r.e. speculator
[10:41] {jfjf64} atw
[10:42] {Threei} speaking of green,
[10:42] {Threei} LZEN IPO opens for trading at $4.00
[10:42] {Threei} LZEN] Lizhan Environmental Corp
[10:42] {nemo} spy shoul run to .92
[10:43] {jfjf64} ya tk dino
[10:43] {jfjf64} atw
[10:47] {jfjf64} cree
[10:47] {jfjf64} missed
[10:48] {jfjf64} abx
[10:48] {jfjf64} .86
[10:48] {jfjf64} break
[10:49] {jfjf64} hold .75
[10:50] {Threei} this is what I expected from X
[10:50] {Threei} just without a shakeout
[10:51] {jfjf64} cree
[10:51] {jfjf64} grrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr
[10:53] {Threei} Short Setup: X .90 break
[10:53] {Threei} if stays under 48
[10:57] {Threei} target about .60 - .65, with partials along the way
[10:58] {Threei} 1:1
[10:58] {Threei} half out
[10:59] {Threei} 1:2, 1/4 more out
[10:59] {dino} ty x vad
[10:59] {jfjf64} stop
[10:59] {Threei} welcome
[11:00] {Threei} finally got it right
[11:00] {jfjf64} .60
[11:00] {jfjf64} lets get hm
[11:00] {jfjf64} out
[11:01] {Threei} lol.., "I was gropped by TSA, and all I got was this lousy t-shirt"
[11:01] {Threei} "audacity of grope"
[11:01] {jfjf64} ty 3i
[11:01] {Threei} target hit
[11:01] {Threei} welcome sir
[11:01] {RonS} touch my junk and i demand a happy ending
[11:01] {jfjf64} you got it right
[11:01] {Threei} lol
[11:02] {jfjf64} bidu
[11:02] {jfjf64} .16
[11:04] {jfjf64} invalid
[11:05] {dino} lol ron
[11:05] {dino} itri to .31 brb
[11:09] {Threei} sheesh RIMM
[11:10] {dino} out itri +.13
[11:18] {jfjf64} mrvl
[11:18] {jfjf64} .26
[11:21] {jfjf64} 1/1
[11:22] {jfjf64} half out
[11:22] {jfjf64} stop b/e
[11:24] {jfjf64} out
[11:27] {jfjf64} dino
[11:27] {jfjf64} amgn
[11:29] {davd} in amgn .93 small
[11:30] {jfjf64} ditto
[11:30] {RonS} finally 3i, the explanation to the poll results that you find so incredulous: http://www.cnbc.com/id/40257359
[11:30] {jfjf64} stop.88
[11:30] {Threei} ahha!
[11:30] {Threei} ty Ron
[11:31] {Threei} that'll do it
[11:32] {davd} stop .88 amgn
[11:32] {dino} mtb to .15
[11:33] {dino} out +.40
[11:33] {jfjf64} gj
[11:33] {dino} ty
[11:34] {jfjf64} bounc
[11:34] {jfjf64} out
[11:34] {jfjf64} sorry david
[11:35] {jfjf64} ya still in
[11:36] {davd} out amgn stopped
[11:36] {davd} no prob, na,me of the game
[11:36] {jfjf64} dog with fleas
[11:36] {jfjf64} im outta here
[11:36] {jfjf64} see all later
[11:36] {Threei} take care jf
[11:36] {jfjf64} or monday
[11:37] {jfjf64} depeds
[11:37] {jfjf64} might be liquid lunch
[11:38] {nemo} amgn pivot at .82. likely there
[11:39] {nemo} coincides with .50 retracement
[11:39] {dino} cya jf
[11:39] {nemo} see orders .85
[11:40] {nemo} bis
[11:40] {nemo} bids
[11:42] {davd} in meli .93
[11:52] {dino} kirk, cent, crmt, atw
[11:54] {dino} atw sm l .90 stop .59
[11:56] {davd} x d/b ?
[11:57] {Threei} nah
[11:58] {davd} good 'cause can't ake x anymore
[11:58] {davd} take
[11:58] {nemo} 23.6 retracement is the bottom of that hammer
[12:13] {Threei} TM Plans to double hybrid models by end of 2012, to offer 11 new hybrid models - Nikkei news (25.61, +0.59, 2.36%)
[12:13] {Threei} the world becomes greener by minute
[12:14] {davd} out meli .5
[12:17] {dino} gj
[12:17] {davd} +.57
[12:17] {davd} i moved the stop below the 5 minute low
[12:18] {davd} good call on .92 on spy - i used it
[12:18] {davd} nemo
[12:19] {nemo} just gap close, actually went to yesterday's close You had close, open, and pivot all within .07 of each other...
[12:20] {davd} yes, that is what it is, but you called it.
[12:20] {nemo} ty
[12:24] {dino} crmt drop
[12:26] {dino} adsk sm l .70
[12:28] {dino} crmt sm l .71 gappy
[12:29] {davd} adsk .7 small
[12:33] {ese} gotta go....duty calls.....still L fitb have a great weekend all
[12:33] {RonS} cya ese
[12:33] {Threei} take care ese
[12:35] {dino} cya es
[12:43] {dino} zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz
[12:44] {Threei} I would capitalize that
[12:44] {Threei} ZZZZZZZZZZZZ
[12:50] {dino} davd i think we froze adsk
[12:51] {davd} we took the auto out of it.
[12:51] {Threei} lay off that nailgun, will ya
[12:54] {dino} ccih
[13:04] {Threei} Short Setup: AEM 70 break if stays under .10, half lot
[13:05] {nemo} 78 break?
[13:05] {Threei} yeah
[13:06] {Threei} 70 is just a tad too far
[13:06] {Threei} not by much but still
[13:06] {nemo} smidgeon
[13:11] {RonS} is this a gold co?
[13:12] {Threei} yeah
[13:12] {nemo} mining
[13:13] {RonS} or maybe molassas?
[13:14] {Threei} or that
[13:14] {nemo} need market to drop
[13:14] {RonS} need gold to drop
[13:14] {Threei} GDX is probably the best leading indicator for it
[13:15] {RonS} gold futes ran to 1354.5 and backed off...now 1352.8
[13:16] {RonS} atw wall at 36 dino...
[13:16] {RonS} gc futes 1352
[13:19] {dino} and falls
[13:39] {dino} itri sm l .91
[13:45] {davd} in itri .9 sm
[13:46] {RonS} hft holiday?
[13:48] {dino} it seems so
[13:49] {RonS} brb, i need to go to an appointment to execute a trade...
[13:52] {Threei} lol
[13:52] {Threei} IMO, market is about to reverse down
[13:54] {dino} i think its just going to stop
[13:54] {RonS} i think it has stopped
[13:56] {dino} crmt to .99
[13:57] {dino} out +.28
[13:58] {davd} stop itri dino?
[14:01] {dino} .59
[14:02] {davd} out adsk stopped
[14:02] {Threei} no go AEM
[14:07] {Threei} so, no one called for the market to go up
[14:07] {RonS} puda ovti
[14:07] {Threei} down and stall
[14:07] {Threei} of course it went up
[14:07] {nemo} market gonna test at least .25 area
[14:13] {dino} kytclignug,uitbmdvstej,,nk
[14:13] {RonS} norwegian, finnish?
[14:14] {Threei} we give up dino
[14:14] {RonS} dingleberry?
[14:14] {RonS} i.e. Klingon?
[14:15] {dino} nonsense
[14:17] {RonS} crus
[14:23] {Threei} be back in 20
[14:30] {Les} {--------slaps the fish with an SLW .82 entry price
[14:30] {Les} beautiful break in silver today
[14:32] {Les} otherwise CSCO for +.05
[14:32] {dino} atw stopped -.17
[14:32] {Les} what else you in dino?
[14:33] {dino} adsk stopped -.21
[14:33] {dino} itri
[14:33] {dino} watching crmt again, gapy
[14:37] {dino} missed it
[14:40] {Les} looking for short opps now. NKE WDC
[14:41] {Les} CRM maybe for 100 shares
[14:43] {dino} feels up to me
[14:43] {RonS} whadya work for the TSA?
[14:43] {Les} hate these days. indexes crawling up the moving averages
[14:43] {RonS} :D
[14:44] {Les} TSA?
[14:44] {RonS} transpotation safety admin
[14:44] {RonS} transportation
[14:45] {nemo} lorl
[14:45] {Les} someone's bored ;)
[14:45] {jfjf64} ADSK
[14:46] {Les} bloody hell. can fly an A380 thru that spread Nemo!
[14:47] {RonS} uh, but they are grounded...
[14:47] {Les} good answer
[14:47] {Threei} back
[14:49] {nemo} lorl
[14:49] {RonS} sheesh i thought you mistyped lol
[14:49] {nemo} dingleberry
[14:50] {Threei} TSLA Moves lower following reports Ford has denied earlier chatter that it was pursuing a buyout of the company (30.50, +0.61, 2.04%) (related F )
[14:50] {RonS} rotflol
[14:50] {Threei} LORL Intelsat has reportedly hired advisors to pursue a buyout of Telesat
[14:50] {Threei} - Note: Loral supplies satellites for Intelsat and has a financial interest in the company (71.29, +3.54, 5.23%) (related BCE )
[14:50] {RonS} to the Chinese?
[14:51] {Les} afternoon vad
[14:52] {RonS} monster move and w/o many shorts
[14:52] {Threei} hey Les
[14:52] {Les} yeh looking for entry but not thinking about it yet
[14:53] {Les} damn huge moves. ain't touching it
[14:54] {Les} sweet LVS short yesterday
[14:55] {dino} adsk sm l .15
[14:59] {Threei} X today too
[14:59] {Threei} US President Obama: NATO agrees to implement missile defense systems that covers NATO region
[14:59] {Threei} - Reminder: NATO has been at odds with Russia over missile defense, whether or not to house them in Europe, and whether Russia would technically be 'under the shield'
[15:00] {RonS} Did ya hear what James Craville said last night?
[15:00] {Threei} yes, lol
[15:00] {RonS} Carville
[15:01] {Threei} he was backtracking that
[15:01] {Threei} "just a joke"
[15:01] {RonS} lol
[15:02] {RonS} too bad mags not here to comment...
[15:03] {dino} mtb
[15:04] {dino} sm l .90
[15:06] {jfjf64} lvs .12
[15:07] {dino} atw rinsed
[15:09] {jfjf64} no go
[15:09] {Les} s NKE .96 stop above .10
[15:12] {Les} stop above 86
[15:12] {RonS} short crm Les?
[15:12] {Les} NKE
[15:14] {RonS} $17 bil in nominal value traded crm today...wow
[15:14] {Les} cover +:12
[15:14] {Les} .12
[15:14] {Les} outta here. gotta help the boy play harry potter on the PS
[15:15] {Les} c u's tomorrow
[15:15] {Threei} Monday rather
[15:15] {jfjf64} enjoy les
[15:15] {dino} cya les
[15:19] {jfjf64} watchin ba nother leg down
[15:22] {jfjf64} maybe not
[15:22] {jfjf64} .48
[15:26] {dino} hhc
[15:28] {jfjf64} market gettin hit ba pushin
[15:33] {dino} adsk stopped
[15:34] {jfjf64} out
[15:34] {jfjf64} no go
[15:34] {nemo} I'm off, talk to you monday
[15:34] {dino} back in ten
[15:34] {dino} cya nemo
[15:34] {jfjf64} later nemo
[15:34] {RonS} cya nemo
[15:34] {jfjf64} ota here also
[15:34] {Threei} take care nemo
[15:35] {RonS} cya jf
[15:35] {jfjf64} see ya rs
[15:39] {Threei} wow
[15:39] {Threei} that must have hurt:
[15:39] {Threei} http://www.bbc.co.uk/news/world-africa-11795932
[15:41] {RonS} would have expected the herd to come and trample the bugger
[15:43] {Threei} ok guys, let's have a good relaxing weekend
[15:44] {Threei} very inactive day
[15:44] {Threei} doubt last 15 min would change that
[15:44] {Threei} see you on Monday
[15:45] {larisa} bye all!