Wednesday, January 12, 2011

Jan 12 2011

A bit tougher day, as a few rinses in the first half of the day took us slightly negative. Three wins in a row fixed the day and made it nicely profitable once again - ironically, all on short side despite a strong day.

Session Time: Wed Jan 12 00:00:00 2011
[08:32] {Threei}  (US) Meredith Whitney: Not expecting any states to default on their debt, expects municipalities to run the risk of default
[08:32] {Threei}  - CNBC***Reminder: On 12/20 Meredith Whitney told CBS's 60 Minutes that she expects municipal market woes to become the biggest US economic problem apart from the housing market. She stated that there is "no doubt" that there will be "a spate of municipal bond defaults within the next 12 months." Could see 50-100 sizable muni defaults.
[09:07] {dino} gm all
[09:07] {Threei}  dino :)
[09:07] {RonS} gm everyone
[09:08] {Threei}  ron :)
[09:12] {Threei}  (EU) PIMCO's El-Erian: European banks needs to preemptively raise capital similar to its US counterparts - radio interview
[09:12] {Threei}  - Cannot run (European) countries at current spreads.
[09:12] {Threei}  no? I thought crisis was over
[09:14] {ese} morning
[09:16] {Threei}  ese :)
[09:17] {ese} was windy last night but not much else here vad
[09:17] {Threei}  no snow?
[09:17] {ese} nope
[09:17] {Threei}  cool
[09:18] {Threei}  there was some here bit rain washes it away rather quickly
[09:18] {ese} some flurries around 2:30 3ish but that was it bout up by you
[09:18] {ese} same
[09:21] {dino} 6 or 7 " here last night
[09:21] {Threei}  yikes
[09:21] {ese} lol
[09:22] {ese} do you normally get alot of snow there in the winter dino
[09:22] {Threei}  watching Brisbane on TV... jeez
[09:25] {dino} 50-60"
[09:27] {larisa} gm :)
[09:27] {Threei}  larisa :)
[09:27] {larisa} :)
[09:27] {ese} haven't experienced that since I left Saskatchewan and Manitoba 25 years ago
[09:28] {Threei}  I bet you are missing that badly
[09:28] {dino} you get used to it, not that bad really
[09:28] {ese} lol
[09:28] {dino} having a colder, but less snowy winter so far
[09:28] {ese} no your right it's not........enjoyed the winter quite a bit
[09:30] {dino} hrbn drop
[09:30] {RonS} affx...9.6 mil sh short
[09:31] {Threei} Short Setup: LVS  .65 half lot
[09:32] {Threei}  1:1
[09:35] {jfjf64} WOW
[09:36] {Threei} Long Setup:  X  .90 break
[09:36] {Threei}  half lot
[09:36] {Threei}  .80 now
[09:37] {Threei}  over 1:1
[09:37] {Threei}  tough execution on this one
[09:38] {jfjf64} ty
[09:38] {jfjf64} ksun
[09:38] {jfjf64} where   r  ya
[09:38] {Threei}  again
[09:38] {Threei}  half lot
[09:38] {Threei}  same setup
[09:38] {RonS} get the feelin he has a day job jf.  comes later
[09:39] {dino} thinking same
[09:39] {Threei} Long Setup:  LVS  .20 break
[09:39] {Threei}  stop under .10
[09:40] {Threei}  not a scalp
[09:40] {Threei}  X invalidated
[09:40] {Threei}  LVS no go
[09:40] {dino} feels like gap fill coming
[09:43] {dino} jobs giving back
[09:43] {jfjf64} f   lvs
[09:44] {Threei} Long Setup:  X  .50 break
[09:44] {Threei}  double bottom if holding above .40
[09:45] {Threei}  invalidated
[09:49] {Threei}  LVS rinsed eh
[09:49] {Threei}  this pullback should be buyable
[09:49] {Threei}  ugh, late
[09:49] {Threei}  .20 was it
[09:50] {dino} sm l acor .95
[09:51] {jfjf64} .05
[09:52] {dino} thor sm l .20
[09:54] {ese} l ldk .58
[09:55] {Threei}  watching X for pullback entry
[09:55] {Threei}  around .40 - .50
[09:56] {Threei}  LVS
[09:56] {Threei}  .20 cross
[09:57] {Threei}  in
[09:57] {jfjf64} in
[09:58] {Threei}  hmmm
[09:59] {Threei}  thinks too long
[10:00] {Threei}  tightening to under .15
[10:01] {Threei}  probably that spike into .30 was to be taken
[10:01] {Threei}  X is coming there
[10:02] {Threei}  .50 break
[10:02] {Threei}  if holding .40
[10:02] {dino} thor stopped
[10:03] {Threei}  out LVS
[10:04] {dino} acor stopped
[10:04] {Threei}  good tightening
[10:04] {Threei}  something's wrong there
[10:05] {Threei}  X failed
[10:05] {Threei}  backing off a bit
[10:11] {dino} igte l .95
[10:12] {dino} hl
[10:13] {dino} stop to b/e
[10:17] {dino} celg sm l .51
[10:20] {dino} celg to flat
[10:20] {Threei} Long Setup:  RIMM  .25 if stays above .15
[10:22] {dino} out igte .22, +.27
[10:22] {RonS} gj
[10:23] {dino} ty
[10:23] {Threei}  I see no connection between indices and stocks
[10:23] {Threei}  look at SPY, look at X, RIMM, LVS, SLW
[10:24] {Threei}  RIMM invalidated
[10:27] {dino} acor sm l .60acor lod
[10:27] {dino} scratch the long
[10:27] {ese} L vsh .21
[10:30] {Threei}  ACOR looks breakdownish to me if loses .49
[10:31] {Threei}  (US) DOE CRUDE: -2.15M V +250KE; GASOLINE: +5M V +2ME
[10:31] {dino} gap below 27.76
[10:38] {dino} afam sm l .65
[10:38] {dino} celg stop flat
[10:46] {dino} acor l .73
[10:47] {dino} stop to .83
[10:47] {ese} out ldk .69 +.11  2k worth
[10:47] {Threei}  not finding squat today
[10:48] {dino} gj
[10:48] {dino} out acor +.11
[10:48] {dino} +.10
[10:50] {dino} afam stopped -.21
[10:50] {RonS} gj ese
[10:52] {ese} tks
[10:55] {dino} slw sm l .55
[11:03] {dino} fele
[11:04] {RonS} touchy
[11:04] {Threei}  lol
[11:06] {dino} man, lots of rinses
[11:09] {dino} slw to .65
[11:10] {dino} out +.10
[11:10] {RonS} fele is one of my favorite American companies.  Embodies what American business used to be and should still be.
[11:10] {RonS} Constant, consistent productivity gains coming from worker input off the factory floor.
[11:11] {RonS} Management and workforce committed to each other.
[11:12] {RonS} no union, despite being in Ohio
[11:12] {Threei}  The Lion Shall Lie Down with the Lamb
[11:12] {Threei}  The cow and the bear shall graze
[11:12] {RonS} u r killin me
[11:12] {RonS} lol
[11:12] {Threei}  and the lion shall eat straw like the ox
[11:13] {jfjf64} oh boy
[11:13] {dino} acor sm l .00
[11:15] {dino} sort of like vad eating salad instead of bacon
[11:15] {Threei}  just gimmie a gun
[11:15] {Threei}  with one bullet
[11:15] {RonS} heard he like salad w/ bacon
[11:16] {jfjf64} i lk
[11:16] {jfjf64} blue  chese
[11:16] {Threei}  well, if you keep reasonable proportion... like 10 parts of bacon to 1 part of salad...
[11:16] {jfjf64} lol
[11:16] {RonS} sounds like a blt
[11:17] {Threei}  feels like pullback time for market
[11:17] {Threei} Short Setup: LVS  .60 break
[11:18] {dino} bki sm l .05
[11:18] {Threei}  if stays under .70 for scalpers, .80 for day traders
[11:19] {Threei}  I'd modify it
[11:19] {Threei}  .70 break aggressive entry
[11:20] {Threei}  if stays under .80
[11:20] {Threei}  SPY's pulling back
[11:21] {Threei}  next recalibration
[11:21] {Threei}  .80 break
[11:21] {Threei}  in .78
[11:21] {Threei}  stop .85
[11:23] {Threei}  ok LVS, roll over and die
[11:25] {Threei}  good boy
[11:25] {Threei}  1:1
[11:27] {Threei}  over 1:2
[11:27] {Threei}  1:3, over and out
06[11:27] * Threei slaps jfjf64 around a bit with a large roll of cash
[11:35] {RonS} mbi
[11:37] {dino} thor sm l .90\
[11:50] {Threei}  watching RIMM for short if bounces to about .30
[11:53] {dino} x sm l .00
[11:55] {Threei} Short Setup: SLW  .60 break
[11:55] {Threei}  if stays under .70
[12:01] {Threei}  1:1
[12:01] {Threei}  day brightens
[12:01] {Threei}  not stellar yet but
[12:02] {Threei}  anyone see any news ACHN?
[12:04] {Threei}  anyone is here, or I can go home?
[12:04] {RonS} none here
[12:05] {dino} here
[12:14] {Threei}  you still in X dino?
[12:14] {Threei}  thinking of shorting it
[12:15] {dino} y
[12:16] {dino} depends on mkt imo
[12:16] {dino} i am l
[12:16] {Threei}  I know
[12:16] {dino} and what else is new, you and i see opposits
[12:16] {Threei}  hehe
[12:17] {dino} eheh
[12:17] {Threei}  try that with LOL
[12:17] {dino} lol
[12:18] {dino} afam lod
[12:18] {Threei}  VVUS...
[12:18] {Threei}  VIVUS, Inc Higher as exec discusses positive results for ED drug at JP Morgan conf- Reiterated data disclosed in early December: Eighty percent (80%) of sexual attempts among patients on avanafil had erections sufficient for intercourse; Sixty-seven percent (67%) of patients taking avanafil experienced successful intercourse.
[12:19] {dino} they are making these drugs for the wrong sex
[12:19] {Threei}  lol
[12:20] {Threei}  I still remember VVUS around $80
[12:20] {dino} me too
[12:20] {Threei}  lost it's ummm, stamina when viagra came along
[12:21] {dino} lol
[12:21] {Threei}  not only it was a mother of all shorts, it was also a mother of all jokes
[12:22] {RonS} i prefer cialis. i like sitting in a bathtub waving at my partner
[12:22] {dino} lol, but a bit too much info
[12:23] {dino} acor to .25
[12:24] {dino} to .29
[12:27] {dino} x to flat
[12:27] {RonS} sheesh, waht an idiot.  that diatribe about really about Lincoln Electric.  i am losing it.
[12:27] {Threei}  believe it opr not VXX manages to make new lows
[12:28] {Threei}  rverese slpit is the only thing that makes it look any decent
[12:28] {Threei}  what an unbelievable POS
[12:28] {Threei}  who came up with this ETF
[12:28] {dino} out acor .30, +.30
[12:29] {Threei}  wtg
[12:29] {RonS} i wonder if people have stopped using that instrument
[12:29] {dino} x to .10
[12:29] {dino} ty
[12:29] {dino} i have ron, its a pos
[12:29] {Threei}  on a short side, the only way to use it
[12:29] {RonS} seems vicsiously flawd
[12:30] {Threei}  it comes to it naturally: cow grazes, eagle flies, VXX drops
[12:31] {ese} L armh
[12:31] {ese} .88
[12:32] {dino} out x +.10
[12:33] {ese} vsh non performer so far stop is .99 have a 1/2 lot
[12:33] {dino} strange market
[12:42] {ese} ya
[12:42] {ese} indexes/futures up....but nothing seems to want to move
[12:43] {dino} snow maybe affecting some
[12:44] {ese} hmmmmmm.....theres a thought
[12:44] {dino} well, no magoo or nemo
[12:44] {dino} affected them
[12:48] {Threei}  nor harth or stewy
[12:48] {Threei}  or davd
[12:49] {dino} didn't know they were east coasters
[12:50] {Threei}  neither do I
[12:50] {Threei}  just theorizing
[12:53] {dino} lft, ctrp
[12:57] {dino} wtf, afam partial l fill .,23
[12:57] {dino} jumps .40
[12:57] {dino} 100 shares only
[13:08] {RonS} uh  dino, what is the next appointment for an afam trade?
[13:09] {dino} 2:15 estern time i think'
[13:09] {RonS} gotcha
[13:29] {dino}  efr drop
[13:34] {dino} lft sm l .61
[13:48] {dino} ctrp blood
[13:49] {Threei}  volume spike
[13:52] {dino} sm l .00 ctrp
[13:55] {Threei}  beauty
[13:56] {dino} lucky
[13:57] {dino} .25 wall
[13:58] {nemo} good morning
[13:59] {RonS} buenos dias
[13:59] {dino} hey nemo
[13:59] {nemo} power just came back on
[13:59] {RonS} didn't miss much
[14:00] {nemo} Dino's favorite kinda' day
[14:01] {dino} yeah right
[14:01] {Threei}  hey nemo
[14:05] {Threei}  *(US) DEC MONTHLY BUDGET STATEMENT: -$80B V -$80BE (27TH STRAIGHT MONTH OF BUDGET DEFICITS)- Total Receipts: $237B v $219B y/y - Total Spending: $316.9B v $310B y/y
[14:10] {ese} .
[14:10] {nemo} swn
[14:15] {nemo} btu on 5 minute
[14:18] {nemo} pcx
[14:19] {nemo} COH may be bottoming here
[14:26] {nemo} AIG might be short here soon
[14:27] {kschun} LONG IBN above 47.
[14:28] {kschun} 47 important level intraday
[14:29] {nemo} hey sneeze, whaddyaa think about btu today?
[14:30] {dino} lol
[14:31] {ese} gotta go catch you all tomorrow
[14:31] {RonS} cya ese
[14:31] {dino} cya es
[14:31] {kschun} see you, take care man
[14:31] {Threei}  take care ese
[14:32] {nemo} lookie aig
[14:32] {Threei}  yeah, nice breakdown
[14:37] {Threei}  75% Think Health Care Law May Cost More Than Estimated
[14:37] {Threei}  no really?
[14:37] {nemo} what doesn't cost more than estimated by the feds
[14:38] {nemo} Downtrend is broken.....sung to the Cat Stevens(now known as Jusef Islam) tune "Morning is Broken"
[14:39] {jfjf64} whaata  ya  drinkin  nemo
[14:39] {nemo} snowstorm without power...what do you think?
[14:39] {dino} lol, i was thinking same
[14:39] {jfjf64} lol
[14:39] {kschun} :-) nemo
[14:39] {jfjf64} realy no power
[14:40] {nemo} I logged on when it came back...when out at 6:00 am
[14:40] {Threei}  must be tought to run that computer by pedaling your stationary bike
[14:40] {nemo} Put the rabbit on the treadmill, and hang a carrot out front
[14:40] {Threei}  lol
[14:40] {nemo} frickin' thing bites now
[14:41] {jfjf64} rabbits  belong  on  bbq
[14:42] {nemo} Ya' know, I gotta get off these meds, they make me too optimistic
[14:42] {jfjf64} lol
[14:42] {nemo} I liked it better when my homicidal tendencies are at the forefront
[14:42] {Threei}  and don't feed those meds to rabbit prior ro bbqing it, or result will be just the same
[14:42] {dino} thor to b/e
[14:43] {dino} lft to .79
[14:43] {dino} thinking glen close
[14:43] {jfjf64} is vol down  today
[14:43] {jfjf64} ??
[14:43] {kschun} interesting area in market , may good moment for some long
[14:43] {nemo} Just reminded me of when my cousin's cat got into his pot.  He figured it wanted to get stoned, so he put it in a plastic bag and blew a pipe bowl full in the bag
[14:43] {Threei}  yes jf
[14:43] {dino} out lft +.19
[14:43] {kschun} vol down?
[14:44] {nemo} mos coh btu bidu
[14:44] {kschun} up/down volume?
[14:44] {jfjf64} what i speakin  chinese
[14:44] {Threei}  Market Internals update at 14:00ET- NYSE volume 520M shares, about even to its three-month average; advancers lead decliners by 2.1:1. - NASDAQ volume 1.15B shares, about even to its three-month average; advancers lead decliners by 2.1:1. - VIX index -3% at just over 16.00
[14:44] {jfjf64} ty
[14:45] {jfjf64} seems lk it
[14:45] {jfjf64} pullin teeth
[14:45] {jfjf64} seems lk
[14:45] {kschun} and TICK really having problems going above 0
[14:45] {kschun} just had a fack "breaout"
[14:45] {Threei}  last week or so volume was considerable above 3 month average
[14:45] {Threei}  so today's is down
[14:45] {jfjf64} snow
[14:45] {dino} out thor +.08
[14:45] {Threei}  (US) Fed's Fisher: Believes QE2 program will be completed with its full allotment of puchases, sees some evidence that Fed policy is driving small imbalances
[14:45] {Threei}  - Q&A- Commodity prices are being driven mostly by demand and not by recent Fed policy
[14:46] {kschun} using for news vad?
[14:47] {Threei}  no
[14:47] {jfjf64} aig lower
[14:47] {jfjf64} imo
[14:51] {nemo} lulu drop
[14:51] {jfjf64} 1/1
[14:51] {jfjf64} more
[14:52] {jfjf64} 1/2
[14:53] {jfjf64} out
[14:53] {nemo} watch around 58.30
[14:54] {jfjf64} ??
[14:54] {nemo} bounce
[14:54] {jfjf64} lk
[14:54] {nemo} ??
[14:54] {jfjf64} did ya  play break  dn
[14:54] {jfjf64} .59
[14:55] {nemo} no, thought at .80 but I just got in, no rythm
[14:55] {nemo} LVS weak?
[14:55] {nemo} another short?
[14:55] {nemo} missed it
[14:55] {dino} hes
[14:56] {jfjf64} maybe bounce  here
[14:56] {jfjf64} ??
[14:57] {dino} hes sm l .05
[14:58] {kschun} will be difficult for strong down moves in these market when you check the internals I think. however adv/dec looking weak here intraday and TICK just can't go above 0
[14:58] {kschun} ratio adv/dec looking for new intraday low
[14:58] {nemo} we've been getting afternoon swoons
[14:59] {dino} spoons too
[14:59] {nemo} keep your day job
[14:59] {dino} :O
[15:01] {jfjf64} .50
[15:01] {jfjf64} fightin
[15:01] {jfjf64} lot  shares
[15:01] {jfjf64} ksun  simple  pls
[15:01] {jfjf64} lol
[15:02] {nemo} slb vad?
[15:03] {Threei}  hmm
[15:03] {Threei}  bounce probably
[15:03] {Threei}  not very confident
[15:04] {Threei}  no, can't really tell between breakdown and bounce
[15:04] {kschun} same here, 55/45 for breakout
[15:06] {nemo} .75 rubicon
[15:10] {nemo} tsl might break
[15:11] {Threei}  dull day
[15:11] {Threei}  about breakeven
[15:11] {Threei}  let's see if we can find some eod plays to get ahead
[15:11] {nemo} wow dino, look at TEF
[15:12] {dino} ulti
[15:13] {dino} hmm
[15:15] {nemo} spy at trend or mine
[15:15] {dino} ulti s partial 55.47
[15:15] {nemo} any paroxysms today?
[15:16] {dino} cov 54.30
[15:16] {dino} +1.17
[15:17] {RonS} bleached it dino, gj
[15:17] {dino} ty ron wanted 300 got 200
[15:19] {Threei} Short Setup: LVS  .50 break
[15:19] {Threei}  semi-agressive
[15:19] {RonS} Ultimate Software looks at selling itself-sources       01/12 01:17 PM
[15:20] {dino} so lets pop it 4 bucks, lol
[15:24] {dino} yoku the money falling
[15:25] {Threei}  let's make new low LVS, will ya
[15:28] {Threei}  good girl
[15:28] {Threei}  1:1
[15:36] {Threei}  1:2
[15:36] {Threei}  ain't it grand... day is nicely back into positive
[15:37] {kschun} and again: my big respect man. however I don't believe you that you very breakeven until now... LOL
[15:37] {kschun} "were breakeven"
[15:38] {Threei}  morning was questionable, slightly negative
[15:38] {Threei}  then repaired it with two wins
[15:38] {Threei}  and this one firmly entrenches us in green
[15:38] {Threei}  we won first one, but then a few rinses spoiled the party
[15:39] {Threei}  log will be posted as always, so see for yourself :)
[15:39] {dino} lft lod
[15:39] {nemo} X too
[15:39] {Threei}  1:3
[15:39] {Threei}  whoa
[15:40] {Threei}  what's that
[15:40] {kschun} man LVS really going, I closed the trade too early,
[15:40] {kschun} just wanted to write this, now I am happy
[15:40] {Threei}  lol... doesn't take much to make you happe eh
[15:40] {Threei}  happy
[15:41] {Threei}  you'd simply cover last part at .20, that's all
[15:41] {Threei}  it went to .16
[15:41] {kschun} :-)
[15:41] {kschun} was out at .32 or so,
[15:41] {kschun} don't know this TICK is making me sick today :-)
[15:42] {nemo} .41 importnt for X
[15:42] {kschun} normally in my op one of the greatest tools, but today it makes me sick :-). always thought would go above 0 and market would recover
[15:44] {kschun} so what we learn again: NO OPINION IS THE BEST OPINION... had more confident on the long side, so I wasn't able to switch and taking more risk on the short side
[15:44] {Threei}  you really need to get that Taoist Trader course
[15:44] {nemo} no...
[15:44] {nemo} Psychiatrist
[15:45] {dino} or vodka
[15:45] {Threei}  I was told that too but I found another option
[15:45] {nemo} after the prescriptions Dino
[15:45] {Threei}  simple increase of the morning bacom portion by one strip cured it all
[15:45] {Threei}  bacon
[15:46] {jfjf64} ty  lvs
[15:47] {Threei}  :)
[15:47] {jfjf64} beginnin  to  get  lk  nemo
[15:47] {jfjf64} no manners
[15:47] {Threei}  that's OK
[15:47] {Threei}  we like him anyway
[15:48] {jfjf64} yes
[15:48] {Threei}  it's just that some people we like :because" and some - "despite"
[15:48] {Threei}  nemo is "despite," that's all
[15:48] {nemo} may I interject?
[15:48] {jfjf64} hehehe
[15:48] {kschun} lol
[15:48] {Threei}  lol
[15:48] {Threei}  see? manners
[15:48] {dino} out hes .05, +.05 thing won't move
[15:48] {kschun} yeah, will purchase it this weekend vad
[15:49] {jfjf64} ??
[15:49] {kschun} please remember it to me when I forget it... :-)
[15:49] {jfjf64} oh  tao trader
[15:50] {kschun} jf: yeap, I am sure you already thought about the vodka idea (dino) LOL
[15:50] {RonS} let him in...we need a little fat guy...
[15:50] {jfjf64} lol
[15:50] {dino} lol ron
[15:51] {jfjf64} what a crew here
[15:52] {Threei}  you are killing me... dying here
[15:52] {Threei}  even cat I don't have came to see why I am laughing so hard
[15:52] {jfjf64} thats  not  good
[15:52] {jfjf64} ya  da captain
[15:52] {Threei}  well, call me easily amused
[15:53] {Threei}  but that sent me on the floor laughing
[15:53] {jfjf64} what  tha little  fat  guy
[15:54] {jfjf64} std
[15:54] {jfjf64} pop
[15:55] {Threei}  ok guys, done for today
[15:55] {Threei}  thak you asll, have a good evenng
[15:55] {Threei}  see you tomorrow
[15:56] {jfjf64} good night all
[15:58] {kschun} great evening to you guys, thanks vad
[15:58] {dino} calling it a day, thx all
[15:59] {dino} mind the gaps