Monday, January 3, 2011

Jan 03 2011

We happily started the year with a nice winning day. No interesting charts but trades were fairly active in the morning. SLW, X, V, something else...

Session Time: Mon Jan 03 00:00:01 2011
[08:36] {nemo} mmmhhh...everybody on vacation until Three Kings Day?
[08:37] {Threei}  hey, it takes time to work out all the hangover
[08:37] {nemo} 3 days...yeah...had a few of those
[09:06] {davd} happy new year all
[09:06] {Threei}  so far new year starts pretty much on the same note - gap up, slow and steady climb seems to be the theme
[09:06] {Threei}  morning davd, happy new year
[09:06] {nemo} market will never go down again...thanks ben
[09:06] {nemo} mcp
[09:07] {Threei}  REE follows it so far
[09:07] {patr} morning all! happy new year
[09:07] {Threei}  just trying to see if their link is restored
[09:08] {nemo} cree should fly today too
[09:08] {Threei}  hi patr, welcome and happy new year
[09:08] {nemo} we now have adult supervision?
[09:08] {Threei}  uh oh
[09:09] {Threei}  we don't do well with adults around
[09:09] {RonS} better call Les...gm all...
[09:09] {Threei}  but who are you suspecting of being adult?
[09:09] {Threei}  Ron :)
[09:09] {ese} morning
[09:10] {Threei}  ese :)
[09:13] {dino} gm all
[09:13] {Threei}  dino :)
[09:13] {magoo} morning
[09:13] {Threei}  magoo :)
[09:14] {larisa} gm :)
[09:16] {Threei}  larisa :)
[09:21] {harth} morning crew:)
[09:22] {Threei}  harth :)
[09:26] {Threei}  buying pullbacks seems to be today's theme so far
[09:27] {Threei}  but mood can change easily so will stay flexible
[09:28] {magoo} u interested ISPH at all vads?
[09:28] {Threei}  sure
[09:28] {Threei}  I don't know if this is one drug company
[09:28] {Threei}  but even if so, short coveruing should come at some point
[09:29] {Threei}  just don't be in a rush to jump in
[09:29] {jfjf64} mornin
[09:29] {Threei}  jf :)
[09:29] {Threei}  ideally, I'd like to see it selling under .50, stabilizing close to it, then breaking it for a long trigger
[09:30] {jfjf64} keep   eye  lvs
[09:30] {Threei}  but let's see what it does
[09:30] {Threei}  LVS, wait for sharp selloff
[09:30] {jfjf64} 47.32  res  pre
[09:30] {jfjf64} k
[09:30] {Threei}  I am not buying morning breakout on LVS
[09:30] {Threei}  recipe for disaster
[09:34] {nemo} spy pre market high
[09:34] {ese} out zion .81 +.50.......hold over night/weekend
[09:35] {Threei} Short Setup: LVS  .65 break
[09:35] {Threei}  if stays under .75
[09:35] {Threei}  1;1
[09:36] {nemo} axp
[09:38] {Threei} Long Setup:  V  .60 break half lot
[09:38] {Threei}  ugh... too fast
[09:38] {Threei}  don't chase
[09:38] {Threei}  see if pulls back for entry
[09:38] {Threei}  if stays above .45
[09:38] {Threei}  same setup, valid again
[09:39] {Threei}  not a scalp, should give about 71
[09:39] {magoo} in
[09:40] {Threei}  LVS drops like a stone
[09:40] {Threei}  watching for long around .20 - .30
[09:41] {magoo} MCP going nuts
[09:42] {Threei}  let's trail V to under .50
[09:44] {Threei} Long Setup:  CAT  .65 break half lot
[09:45] {Threei}  stop under .55 for scalpers, .50 for day traders
[09:45] {dino} msb sm l .65 ave
[09:47] {ese} in
[09:47] {ese} .66
[09:47] {Threei}  V 1:1
[09:49] {Threei}  (US) Preview: Nov Construction Spending due out at 10:00ET** Consensus expectations (M/M): +0.2%e v +0.7% prior
[09:49] {Threei}  (US) Preview: Dec ISM Manufacturing Index due out at 10:00ET**Consensus expectation: - ISM Manufacturing: 57.0e v 56.6 prior (most estimates range between 55.0-58.0) - ISM Prices Paid: 71.3e v 69.5 prior
[09:51] {magoo} REE dive
[09:51] {magoo} SHZ not lookin good
[09:51] {Threei}  market spike is coming
[09:51] {Threei}  CAT is not following well
[09:51] {Threei}  no likey
[09:51] {ese} was just thinkin that vad
[09:53] {Threei}  V is ready to take .80 and go
[09:53] {Threei}  finally... CAT looks better now
[09:54] {Threei}  V stop to .55
[09:54] {Threei}  CAT too
[09:58] {nemo} volumes low on spy and Qs, huge on Dow
[09:59] {Threei}  not sure what the significance of this is...
[10:00] {nemo} me neither just info...volumes might be low this week
[10:00] {Threei}  still, should rise vs last one
[10:00] {Threei}  which was the lowest volume of the year
[10:00] {nemo} yes
[10:02] {Threei}  *(US) NOV CONSTRUCTION SPENDING M/M: 0.4% V 0.2%E
[10:03] {Threei}  *(US) DEC ISM MANUFACTURING: 57.0 V 57.0E; PRICES PAID:72.5 V 71.3E
[10:02] {nemo} look how strong the dollar is
[10:02] {Threei}  let's go V
[10:02] {Threei}  you are so ready
[10:03] {nemo} aig drop
[10:04] {magoo} target V
[10:04] {Threei}  closer to 71
[10:04] {Threei}  CAT no go
[10:05] {Threei} Short Setup: X  .85 break half lot
[10:05] {Threei}  if stays under .95 of course
[10:08] {ese} stoped cat .56 by the way
[10:08] {Threei}  yup
[10:08] {jfjf64} die   x
[10:10] {Threei}  1:1 X
[10:10] {jfjf64} ty
[10:10] {jfjf64} out
[10:10] {Threei}  in full?
[10:10] {Threei}  half here
[10:10] {jfjf64} y
[10:10] {Threei}  should do more
[10:10] {magoo} thinking .55
[10:10] {Threei}  stop to above .90
[10:11] {Threei}  1:2
[10:11] {Threei}  1/4 more out
[10:11] {jfjf64} gj
[10:11] {RonS} x took .88 to .72  +.16 thxs 3i
[10:11] {Threei}  :)
[10:11] {Threei}  V out balance
[10:12] {Threei}  X stop for the last part to .80
[10:14] {nemo} tna offer .06
[10:14] {nemo} hide and seek
[10:14] {nemo} bp DB?
[10:15] {magoo} LVS pretty deep pllbk
[10:15] {magoo} out x sh .74
[10:15] {Threei}  rather looks like breakdown to me, nemo
[10:15] {Threei}  LVS, watching
[10:15] {Threei}  done with X
[10:17] {Threei} Short Setup: SLW  .70 break
[10:18] {Threei}  if stays under .80
[10:21] {magoo} LVS
[10:21] {Threei}  still not ready, IMO
[10:22] {Threei}  SLW 1:1
[10:22] {nemo} spy might be ready for another run look at tails on last few candles
[10:23] {Threei}  looks like, yeah
[10:23] {dino}   msb to .99
[10:23] {dino} to .04
[10:23] {dino} out .03, +.38
[10:24] {jfjf64} out
[10:24] {nemo} omg...a red candle in tna
[10:24] {Threei}  SLW 1:2
[10:25] {jfjf64} happy  new  year
[10:25] {jfjf64} lol
[10:25] {jfjf64} ty
[10:26] {Threei}  LVS lower
[10:26] {Threei}  1:3 SLW, me out
[10:26] {jfjf64} gj
[10:26] {jfjf64} 3i
[10:26] {Threei}  ty
[10:26] {Threei}  I have my moments
[10:28] {Threei}  ok, LVS, one more leg down and it should be bounce-ready
[10:28] {Threei}  around .60
[10:29] {RonS} msb took 38.60 to 39.10...thanks dino
[10:30] {dino} gj ron
[10:31] {nemo} now vad
[10:31] {Threei}  .65 break
[10:31] {jfjf64} ??
[10:32] {Threei}  if loses .60, then 5 cents ranges in effect
[10:32] {Threei}  .60 break
[10:32] {jfjf64} in
[10:32] {Threei}  stop under .55
[10:33] {Threei}  not yet
[10:34] {Threei}  hmm... valid again it seems
[10:34] {jfjf64} im in
[10:34] {jfjf64} stop .50
[10:34] {Threei}  ok
[10:35] {Threei}  needs to take .60
[10:35] {jfjf64} y
[10:35] {jfjf64} es
[10:35] {Threei}  then jump is likely
[10:35] {jfjf64} playin games
[10:36] {jfjf64} .550stop  4  me
[10:36] {dino}  bsft drop
[10:36] {jfjf64} grrrrrrrrr
[10:36] {Threei}  give it more room to drop
[10:37] {jfjf64} i was to  aggresive
[10:38] {magoo} since i mentioned it, its a point short dammit
[10:39] {nemo} bids .44
[10:39] {nemo} oops
[10:40] {nemo} axp vad
[10:41] {Threei}  what do you see there?
[10:41] {nemo} bounce off 200 but almost in resistance now
[10:41] {nemo} .45 big selling level lvs
[10:42] {nemo} missed it
[10:45] {Threei}  yeah
[10:45] {Threei}  whastever
[10:45] {Threei}  become a tough one to trade lately
[10:45] {nemo} .46 was it, huge selling-once lifted it went..tested the level a few times
[10:48] {dino} itri sm l .50
[10:48] {dino} stop .29
[10:48] {nemo} next run
[10:48] {Threei}  same thing it did earlier with .60, only wasn't successful in breaking it
[10:49] {nemo} yeah
[10:50] {nemo} cree .40 break?
[10:50] {nemo} hold .29
[10:51] {Threei}  nah
[10:53] {ese} L akam 1/2 .10
[11:09] {Threei}  snow in Vegas
[11:09] {Threei}  how's that global warming working got ya
[11:09] {Threei}  for
[11:09] {dino}  bumming on msb
[11:12] {magoo} let winners win dino
[11:13] {magoo} have to say vad, it was 56 degrees f both sat and sun in pennsyltuckey
[11:13] {Threei}  I don't know what that means
[11:13] {magoo} means warm, very warmb
[11:14] {Threei}  after record cold and snow all over east board and eaurope... shurg
[11:14] {dino} -6 f below normal in our area for december
[11:14] {Threei}  snow in Atlanta
[11:15] {Threei}  friends in San Diego say "this frikin cold wasn't included in our contract with california"
[11:18] {magoo} REE high
[11:18] {magoo} AVL a player
[11:18] {magoo} abnd cant believe i missed MCP, not in
[11:19] {nemo} vhs
[11:19] {nemo} sorry
[11:19] {RonS} beta
[11:19] {RonS} sorry
[11:20] {Threei}  lol
[11:23] {nemo} tna break .20?
[11:23] {nemo} broke
[11:23] {Threei}  I hate trading breakouts at this point
[11:23] {nemo} that's why they'll work ;)
[11:24] {Threei}  pullback to 77, I'll be happy to look for entry
[11:24] {Threei}  break, I stay away
[11:24] {nemo} buy while puking
[11:24] {nemo} 77 was bounce of 50 ma
[11:24] {Threei}  that's the entry
[11:24] {Threei}  minimal risk, good reward
[11:24] {Threei}  this .20 break is asking for troubles
[11:25] {Threei}  you may get slow climb, and most likely you get fast shakout
[11:25] {Threei}  which will rinse you, leave you in the dust, watching train leaving the station without you
[11:25] {Threei}  crying bitterly and reading sentimental poems
[11:26] {Threei}  which is disaster in and of itself
[11:26] {nemo} me...read sentimental poems
[11:26] {Threei}  see? That's how bad it is!
[11:26] {Threei}  this is what buying these breakouts will do even to hardened cri... umm, traders
[11:27] {nemo} bull flag mcp
[11:29] {RonS} Allman Brothers territory, eh?
[11:29] {nemo} ?
[11:29] {RonS} "Tied to the Whippiing Post"
[11:30] {nemo} ahhh...o.k....not sure I get the analogy
[11:30] {RonS} ese, you around?
[11:30] {RonS} well, nemo when you get rinsed, don't you feel the bite of the whip?
[11:31] {ese} ya just went L stld .69
[11:31] {nemo} no
[11:31] {nemo} I feel a hot poker
[11:31] {dino}   oxps l .60 stop .49
[11:31] {nemo} whips are o.k.
[11:32] {RonS} son-in-law showed me:  www.wherethehellismatt.com
[11:32] {RonS} seen it?
[11:32] {RonS} "the dance"
[11:32] {nemo} no..and I still don't get it
[11:33] {magoo} AVL trying
[11:33] {Threei}  lookie looki TNA
[11:35] {ese} akam stopped .85
[11:40] {RonS} ese, play the 2008 video sometime. it is entirely charming: http://www.wherethehellismatt.com/videos.shtml
[11:41] {Threei}  see how TNA works like a charm off a pullback to 77
[11:41] {nemo} what was your entry
[11:41] {nemo} ?
[11:41] {Threei}  I haven't said I tarded it
[11:41] {Threei}  I illustrate the principle of a pullback vs breakout
[11:41] {nemo} did you re-tard it?
[11:47] {ese} dino tza...
[11:47] {ese} hey ron......ya will do
[11:48] {nemo} lvs
[11:48] {nemo} aig
[11:48] {Threei}  wow LVS
[11:50] {jfjf64} bounce
[11:50] {Threei}  UBS making cautious comments
[11:50] {Threei}  shrug
[11:50] {Threei}  .50 break I guess
[11:51] {Threei}  1:1
[11:53] {Threei}  1:2
[11:53] {Threei}  me out
[11:57] {RonS} 3i, crus l on .50 break?
[11:58] {jfjf64} inv  c/h  forming   lvs
[11:59] {Threei}  I think so
[11:59] {Threei}  don't expect it to be fast, but chart looks tempting
[11:59] {jfjf64} all in
[12:02] {jfjf64} took  4  cents
[12:02] {jfjf64} wow
[12:02] {jfjf64} lol
[12:02] {Threei}  don't spend it all at once
[12:03] {dino}   bazingga
[12:05] {dino} lphi blood
[12:06] {RonS} ?
[12:12] {dino} itri stopped -.22
[12:38] {dino}  anybody finding much?
[12:40] {magoo} im flippin MCP, REE
[12:42] {Threei}  MCP looks breaky
[12:44] {nemo} mos
[13:07] {ese} nope
[13:07] {ese} that ws a delayed nope dino
[13:10] {dino} ok
[13:11] {Threei}  delayed is serious understatement... that was like second coming, waited for over millenia
[13:11] {Threei} Short Setup: X  .95 break'
[13:16] {ese} L slw .69
[13:17] {magoo} klook RVBD
[13:17] {ese} still L stld
[13:20] {dino} gj slw
[13:20] {ese} i'm liken it
[13:21] {ese} thats the coup da grass for 5min chrts as far as i'm concerned
[13:21] {nemo} the kill shot ese?
[13:22] {ese} yup.......
[13:22] {ese} out 1/2
[13:22] {ese} .80
[13:23] {nemo} mos db here?
[13:23] {magoo} sh X .99 off vad
[13:24] {ese} stop to break even balance
[13:24] {Threei}  cover I think
[13:24] {Threei}  at least partial
[13:28] {dino} ipi sm l .50
[13:29] {magoo} gotta reboot, brb hopefully
[13:37] {nemo} veco dino
[13:39] {dino} hmmm
[13:40] {dino} gap fill in making?
[13:40] {Threei}  a bit too much to fill...
[13:42] {Threei}  sheesh... reboot sure takes magoo out of the game for a long time, lol
[13:43] {Threei}  I envision him in the chair ion front of B-747 like control panel, hitting numerous switches, pushing levers, hitting buttons....
[13:43] {nemo} funnny...I see him adjusting the antenna
[13:43] {Threei}  rofl
[13:45] {RonS} ...and i see him changing shoes and wondering why the computer won't work...
[13:46] {nemo} aig?
[13:46] {Threei}  probably worth a try
[13:47] {dino} i see him tripping over the cord
[13:49] {ese} let me see....how do you spell "sloth" in english.....stld.....sheesh
[13:56] {ese} L avl .59
[13:57] {RonS} nice ese
[13:57] {ese} out avl .72 +.13
[13:58] {dino} gj
[13:58] {ese} tks
[13:58] {RonS} 30k?
[13:58] {ese} no 2
[13:58] {magoo} looks higher
[13:58] {magoo} eating up massive size offers
[13:59] {ese} vad question......that big volume spike in avl when it hit .60 gave me a scare......normally that would sign price heading back dn wouldn't it....euphoria
[14:00] {ese} volume spike
[14:00] {magoo} in .59 with ya
[14:00] {Threei}  volume spike was big but price movement relatively small at .60...
[14:00] {magoo} but trying for high .80s
[14:00] {Threei}  now 20 cents higher, sure
[14:01] {ese} theres the reversal there
[14:01] {magoo} yea sux
[14:02] {ese} it's still hangin in there mags
[14:03] {magoo} waiting .94
[14:03] {ese} riden cowboy buddy
[14:03] {magoo} we will see
[14:03] {ese} ridem
[14:03] {RonS} ur gonna be rich!
[14:05] {RonS} it's a freakin first day ipo?
[14:06] {magoo} so
[14:06] {magoo} all the better
[14:06] {RonS} just askin
[14:06] {magoo} go to 9 bux in that case
[14:07] {magoo} vad, read MCP?
[14:07] {RonS} ...the Chinese must be in on it...that is why they started talking quota cuts to send all up and get this out...
[14:07] {Threei}  not really mags
[14:08] {magoo} if it takes 58, launch?
[14:09] {Threei}  not sure
[14:09] {Threei}  could be a big smackdown just as well
[14:09] {Threei}  50/50
[14:09] {magoo} vad dog 50/50
[14:12] {Threei}  huh?
[14:13] {magoo} a booze, mad dog 50/50
[14:40] {dino}   ipi stopped -.26
[14:40] {ese} cat never did come around today
[14:40] {Threei}  no
[14:57] {dino}    rnet
[14:57] {nemo} does it trade?
[14:58] {Threei}  yes but by appointment
[15:02] {RonS} atpg
[15:17] {ese} dino.....what are you thoughts on drys
[15:18] {ese} looks to me like it's gonna hit about 4.80......thats a good buy in point for me
[15:23] {dino}  not happy w/it
[15:23] {dino} break of 5 and gone
[15:26] {ese} hmmmmm
[15:27] {dino} gap 4.85
[15:46] {ese} cya tomorrow.........
[15:47] {RonS} cya ese
[15:47] {ese} ron
[15:48] {Threei}  take care ese
[15:50] {Threei}  seems we are back to the gap-and-stall pattern
[15:50] {Threei}  bad sign for bears
[15:56] {Threei}  hmm
[15:56] {Threei}  sudden bout of selling
[15:56] {Threei}  no news
[15:56] {Threei}  probablky nothing, just profit taking
[15:57] {Threei}  thank you all, have a good evening
[15:57] {Threei}  see you tomorrow for another gap up
[15:58] {harth} cya Tues!
[15:59] {larisa} bye!
[16:02] {magoo} take care
[16:04] {dino} veco almost filled that open gap
[16:07] {dino} gn all