Tuesday, March 22, 2011

Mar 22 2011

Day started with great activity and a few quick winning trades, then action became jello-ish and we gave some back. Pretty much sat on our hands for the afternoon. Below is an updated chart of "Where we are", sans today's small red bar - 125 held, 130 held, so far we are in a holding pattern.

Session Time: Tue Mar 22 00:00:00 2011
[08:32] {Threei}  (US) Fed's Fisher: Does not believe that the role of the USD as a reserve currency will change, although US officials need to ensure confidence
[08:32] {Threei}  - Reiterates danger of Fed monitizing the debt, warns would lead to economic destruction.
[08:32] {Threei}  - US housing to stay depressed for some time to come
[08:42] {Threei}  (YE) Yemen Official: President Saleh will step down from power after parliamentary elections in Jan 2012
[08:42] {Threei}  - Will not step down before elections; need to have an orderly transfer of power to the next President.
[08:42] {Threei}  sounds awgully familiar
[08:52] {Threei}  Iraqi Oil Min: Oil prices likely to exceed $120/bl which is an acceptable price
[08:52] {Threei}  remind me again, how many people died so such pieces of crap came to power?
[08:52] {nemo} any higher price is acceptable to a seller
[09:01] {Threei}  US plane crashes in Libya
[09:02] {nemo} GES looks might be short
[09:13] {Threei}  nofrikinone can answer the question: what is the mission's goal?
[09:15] {davd} gm all
[09:15] {RonS} gm everybody
[09:16] {Threei}  davd, ron :)
[09:16] {rambler} morning all..
[09:16] {Threei}  rambler :)
[09:18] {dino} gm all
[09:20] {Threei}  dino :)
[09:21] {magoo} morning
[09:22] {_svetlanab} good morning
[09:24] {RonS} wag the dog
[09:24] {Threei}  mags, svetlana :)
[09:28] {Threei}  have a look quickly, guys:
[09:28] {Threei}  http://caracommunity.com/content/bill-caras-blog-mar-22-2011#comment-82068
[09:29] {Threei}  prepare half lot on SLW, watching for short
[09:30] {Threei}  if you are intolerant to hypervolatility of opening movements, jist stay away, odds of rinse are high
[09:30] {Threei}  lol... how about that
[09:30] {rambler} sold PRAN    +.58
[09:31] {Threei}  nice
[09:31] {rambler} that one worked out....
[09:31] {nemo} yeah, not pulling back either
[09:32] {Threei} Long Setup:  SLW  .65 break
[09:32] {Threei}  stop under .55
[09:32] {Threei}  1;1
[09:33] {Threei}  1:2
[09:33] {nemo} what volatility
06[09:33] * Threei slaps jfjf64 around a bit with a large alarm clock
[09:33] {jfjf64} yes
[09:34] {magoo} out .84 nice
[09:34] {Threei} Short Setup: SLW  .90 break
[09:35] {Threei}  invalidated
[09:35] {Threei} Short Setup: SLW  .42 break
[09:36] {nemo} wow
[09:36] {Threei}  1:1
[09:36] {nemo} you catch that?
[09:36] {Threei}  no
[09:36] {Threei}  valida again
[09:36] {nemo} I was gonna say
[09:36] {Threei}  same setup
[09:37] {Threei}  market spike
[09:38] {Threei}  got it this time
[09:38] {magoo} in
[09:38] {Threei}  for better or worse, lol
[09:38] {Threei}  1;1
[09:38] {Threei}  half out
[09:38] {Threei}  want 1:3
[09:38] {Threei}  bidding 1/4 .81
[09:39] {nemo} desires and expectations
[09:39] {Threei}  gimmie gimmie gimmie
[09:39] {magoo} out .84
[09:39] {magoo} ty
[09:39] {Threei}  hit
[09:39] {dino} gj
[09:39] {Threei}  stop to b.e
[09:39] {jfjf64} ty
[09:40] {Threei}  bidding .71
[09:41] {Threei}  hit
[09:41] {Threei}  over and out
[09:41] {Threei}  can I go home?
[09:41] {jfjf64} very  niceeeeeeeeeeeeee
[09:41] {rambler} nope
[09:41] {Threei}  like violin
[09:42] {Threei}  and belive you me, you don't wnat to hear me playing violin
[09:42] {Threei}  that'll cause irrepairable trauma to your ears
[09:42] {Threei}  FCX
[09:42] {Threei}  bounce candidate
[09:42] {Threei} Long Setup:  FCX  .80 break
[09:43] {Threei}  1:1
[09:44] {Threei}  still valid if you missed entry
[09:44] {Threei}  same setup
[09:46] {Threei}  not a scalp this time if works
[09:46] {Threei}  can do more
[09:47] {magoo} most likely .15 area
[09:47] {Threei}  market sharp drop
[09:47] {magoo} if woorx
[09:47] {magoo} cept for that
[09:48] {nemo} frickin ree
[09:48] {Threei}  held by fingertips
[09:48] {Threei}  1:1 again
[09:48] {Threei}  half out
[09:48] {Threei}  beauty
[09:49] {Threei}  stop .75
[09:49] {rambler} out..90   .thanks Vad
[09:49] {Threei}  :)
[09:49] {jfjf64} very niceeeeeeeeeeeeeeee
[09:50] {Threei}  :)and you missed first two
[09:50] {Threei}  offering 1/4 .99
[09:50] {jfjf64} just edone  miss
[09:50] {Threei}  hit
[09:50] {Threei}  offering last piece .09
[09:51] {Threei}  stop to .89
[09:53] {Threei}  out
[09:53] {Threei}  home?
[09:54] {rambler} not even recess yet.....
[09:55] {Threei}  I approach it from different perspective
[09:55] {Threei}  life is endless recess with brief work interruptions
[09:55] {Threei}  SLW
[09:55] {rambler} 6 million vol on PRAN and running....
[09:55] {dino} gj
[09:55] {Threei} Long Setup:  SLW  .60 break
[09:55] {Threei}  aww, late
[09:56] {Threei}  no chasing'
[09:56] {strider} in .61
[09:56] {Threei}  ok
[09:56] {Threei}  stop is obvious
[09:57] {Threei}  if works, target is 1:2
[09:58] {strider} obvious .45 or obvious .50?
[09:58] {Threei}  .49
[09:58] {Threei}  stoped
[09:58] {nemo} obviously out
[09:58] {Threei}  sharp market drop
[09:59] {Threei}  maybe just a rinse but
[09:59] {Threei}  yikes
[10:00] {Threei}  where is that recovery
[10:00] {Threei}  *(US) JAN HOUSE PRICE INDEX M/M: -0.3% V -0.2%E
[10:00] {Threei}  again...
[10:00] {rambler} rare earths flying...
[10:01] {dino} wag sm l .00
[10:01] {dino} stop .72
[10:01] {strider} greg, check dcc
[10:03] {nemo} so isn't pran
[10:04] {magoo} forgot about PRAN
[10:06] {dino} wag stopped -.28
[10:08] {Threei}  frikin SLW
[10:09] {Threei}  Democrat Kucinich Argues for Obama's Impeachement
[10:09] {nemo} on what?
[10:09] {Threei}  ordering strikes on Lybia without going through Congress
[10:10] {Threei}  impeachable offense according to him
[10:10] {dino} f'ng rinses, wag
[10:10] {rambler} CIGX ww here....
[10:12] {nemo} lvs
[10:12] {nemo} atpg
[10:13] {dino} nke sm l .75
[10:13] {dino} stop .48
[10:14] {dino} wag sm l .71
[10:15] {dino} stop lod
[10:17] {nemo} 76.10 area vwap on nke
[10:18] {dino} ty
[10:18] {rambler} FTK could run today....
[10:19] {rambler} in blue sky country....
[10:21] {nemo} mcp gonna make another run
[10:24] {nemo} probably a good place to partial on nke
[10:26] {davd} power back in reactor 3
[10:27] {dino} ty
[10:34] {Threei} Short Setup: X  .50 break
[10:34] {Threei}  if stays under .60
[10:34] {dino} out wag .05, +.34
[10:36] {nemo} bmy
[10:38] {nemo} .58 big level bmy
[10:40] {Threei}  no go
[10:43] {rambler} bot some AEN......
[10:43] {nemo} NKE touched vwap and dropped, that's the ceiling at the moment
[10:46] {rambler} nice bull coil on PRAN
[10:47] {Threei}  I see no rhythm in these market movements
[10:47] {nemo} spy coming to a SOGOTP moment
[10:47] {Threei}  I'll bite
[10:47] {Threei}  SOGOTP?
[10:47] {nemo} look 15 minute chart, pennant top from yesterday and trend support
[10:48] {dino} fubr
[10:48] {nemo} fubar
[10:48] {nemo} snafu
[10:48] {dino} yes
[10:48] {nemo} To be or not to be  Vad
[10:48] {rambler} bot PRAN   4.17
[10:49] {Threei}  yeah, got it
[10:49] {RonS} 3i...s or get off the pot...
[10:49] {Threei}  yeah... ty
[10:49] {nemo} scary Ron, how long have you been under doctor's care?
[10:49] {dino} ffiv -19 pts 5 days
[10:50] {RonS} ?
[10:50] {nemo} well, if you're thinking like I'm thinking, you need help
[10:52] {RonS} classic americana really...
[10:52] {nemo} mmmhhhhhh..oy frickin vay
[10:53] {nemo} might get ual bounce here, but expect further drop
[10:53] {Threei} Short Setup: FCX  .40 break
[10:54] {Threei}  invalidated
[10:56] {nemo} ual short .50 break?
[10:56] {Threei}  I think so
[10:57] {nemo} atpg huge volume spike long above .30?
[10:57] {strider} stop .55?
[10:57] {strider} whoops
[10:57] {nemo} invalidated
[10:57] {nemo} ual, or this is the rinse before the drop
[10:58] {rambler} out AEN   +.18
[10:58] {RonS} gj
[10:58] {dino} gj
[10:58] {nemo} l atpg .31
[10:59] {rambler} thanks...adds up on those low price stocks...
[10:59] {Threei}  ATPG, chart's right but too thin for confident call
[11:00] {Threei}  markert loses ground
[11:00] {Threei}  that FCX worked
[11:01] {Threei}  (EG) Egypt's Interior Ministry is now on fire, protesters cited as cause - CNN footage
[11:01] {Threei}  I thought they won?
[11:01] {Threei}  or they just like burning things?
[11:01] {nemo} 1/2 out .43
[11:02] {dino} kub sm l .50
[11:02] {rambler} out Pran
[11:02] {nemo} mcp running again
[11:03] {rambler} -.05 loss
[11:03] {rambler} AVL nice bull coil and pop,....
[11:04] {nemo} ual again
[11:05] {RonS} oil coiling around $104
[11:10] {RonS} oil broke up now 104.30
[11:14] {nemo} crissakes, atpg started to trade by appointment
[11:14] {Threei}  told ya it was bulimic
[11:15] {nemo} out .41
[11:16] {dino} oclr gap fill dec
[11:17] {nemo} lvs .36? long
[11:17] {Threei}  no
[11:17] {Threei}  don't like it at all
[11:18] {dino} what are you trying to say
[11:18] {nemo} who
[11:19] {Threei}  lol
[11:19] {dino} :D
[11:19] {nemo} damn, shouldn't have gotten bored with atpg, and there goes LVS
[11:19] {strider} yep already moved 3 cents
[11:20] {strider} sky's the limit
[11:20] {nemo} well, that's alot for the stocks I've been trading this morning...take a frickin number
[11:20] {nemo} well, if Vad doesn't like it, shall we short it then?
[11:21] {strider} go ahead.  I ccan't short lvs
[11:21] {nemo} wow
[11:21] {strider} been that way for weeks
[11:22] {strider} looks like lunch arrived early
[11:22] {Threei}  I don't like it either way
[11:23] {Threei}  there is just no pattern here
[11:23] {nemo} pran
[11:23] {nemo} well, support is pivot
[11:23] {Threei}  it will whipsaw you to death, then finally break and go
[11:23] {Threei}  but which way is total dice roll
[11:23] {nemo} I deg to biffer
[11:24] {Threei}  rice doll?
[11:24] {nemo} look .38 offer, wonder if real
[11:25] {dino} jdsu sm l .00
[11:33] {nemo} so...about the price of tea in China...
[11:37] {nemo} It's....COMA TIME!
[11:38] {nemo} mcp lotta volume at high
[11:38] {nemo} and thar she goes
[11:40] {nemo} frickin slw
[11:40] {nemo} and LVS after the rerquisite rinse
[11:40] {nemo} requisite
[11:43] {Threei}  and now it rinces longs
[11:43] {nemo} .38 to .58, we'll see, support now either here or .40
[11:51] {dino}  wag sm l .00
[11:52] {Threei}  (IR) Ireland's NAMA: Most of the declines in Irish residential property prices have taken place already
[11:52] {Threei}  that's what Ben told ys 4 years ago
[11:52] {Threei}  us
[12:00] {Threei} Short Setup: MCP  .90 break half lot
[12:01] {Threei}  if sdtays under .05
[12:03] {dino} .
[12:05] {nemo} is it still valid?
[12:05] {Threei}  yeah
[12:07] {rambler} I got rejected on MCP...
[12:08] {Threei}  MRVL Ticks higher on CNBC's Herb Greenberg publishing speculation on potential hostile takeover targets
[12:10] {Threei}  (PO) JP Morgan analyst sees chance that the Govt will fall tommorow as 'high' (timing uncertain)
[12:10] {Threei}  - Reminder: Portugal's budget vote is due Wednesday, with the PM threatening to quit if the austerity is rejected, Socialist party leaders claimed there would be an 'abyss' if the vote failed
[12:10] {nemo} faz man
[12:10] {nemo} if portugal tanks
[12:10] {Threei}  no go MCP
[12:11] {Threei}  market is total jellyfish
[12:15] {rambler} CHGS ww here...
[12:18] {Threei}  MCP rinsed
[12:19] {Threei}  US Admiral Locklear: Gaddafi forces attacking civilians in the town of Misrata
[12:26] {rambler} Lenin is on CBC talking budget......scary....
[12:27] {nemo} who?
[12:27] {Threei}  hehe
[12:27] {Threei}  leader of NDP in Canada
[12:27] {dino} wag to .31
[12:27] {rambler} Jack Layton...leader of the NDP....
[12:27] {Threei}  scary resemblence to Lenin
[12:28] {rambler} very...
[12:28] {dino} out +.31 wag
[12:28] {rambler} gj
[12:29] {dino} ty
[12:33] {rambler} MCP running....
[12:34] {nemo} think pran should wake soon
[12:41] {nemo} lvs got a little volume coming in
[12:46] {rambler} FTK going...
[12:46] {dino} eqr gap fill
[12:48] {rambler} MCP up almost $5 today...
[12:51] {dino} vad would appreciate my lunch, brocoli and cheese soup
[12:51] {Threei}  hmmm
[12:52] {Threei}  very much so, wth little change: add bacon and keep broccoli and cheese soup
[12:52] {dino} bacon would be good idea to add to the soup
[12:52] {Threei}  better yet: no soup
[12:53] {Threei}  just bacon
[12:57] {dino} eqr sm l .35
[13:02] {rambler} REDF running....
[13:06] {rambler} CIGX pops...
[13:07] {rambler} whoa...
[13:07] {nemo} slw due for a turn, vwap at .18
[13:09] {rambler} Key area here for REDF
[13:10] {nemo} looks short
[13:10] {rambler} testing 50 dma
[13:12] {rambler} PRAN over 3.85 with V could go.....
[13:19] {rambler} LNG going...
[13:19] {strider} long apc .90
[13:23] {Threei} Short Setup: X  .90 break
[13:26] {strider} stopped apc
[13:31] {rambler} PRAN needs Vol now...
[13:31] {nemo} x short .99?
[13:33] {Threei}  I think so
[13:33] {Threei}  if market breaks dnow, this bounce shouldn't hold
[13:33] {nemo} oy vay, definite maybes today
[13:33] {Threei}  or as The Dude said, This aggression won't stand
[13:38] {rambler} PRAN...
[13:51] {dino} slow day
[13:52] {Threei}  morning was fast and furious, then action dies
[13:56] {nemo} rimm short, or long above .30?
[13:56] {Threei}  toss a coin
[13:56] {Threei}  absolutely random environment
[13:56] {nemo} mmmhhhhh....back to the bottle
[13:56] {Threei}  share!
[13:57] {nemo} what I'm drinking you might find unpalatable
[13:57] {Threei}  do tell
[13:57] {strider} out 1/2 dapc awhile ago +.16
[13:57] {strider} from .94
[13:57] {nemo} it's an herbal mix soaked in vodka
[13:57] {Threei}  I am interested
[13:57] {nemo} I have no doubt
[13:58] {strider} dapc=apc
[13:58] {dino} you drink while trading?
[13:59] {nemo} very moderately, I started drinking beer with breakfast when I lived in Germany
[13:59] {dino} wow, i only do that on golf rtip
[14:00] {nemo} what, drinking at breakfast, or moderately
[14:00] {nemo} ?
[14:00] {dino} breakfast
[14:00] {nemo} ahhh
[14:01] {nemo} when I go on trips evenings run into breakfast, so I can never tell
[14:02] {nemo} oops, [12:36] {nemo} think pran should wake soon
[14:02] {nemo} I missed it
[14:02] {nemo} this one too, [13:09] {nemo} slw due for a turn, vwap at .18....and I hadn't had anything to drink
[14:02] {nemo} must be brain damage
[14:15] {rambler} OME new highs (2 year)
[14:19] {Threei}  selloff
[14:20] {Threei}  who tripped of the market plug and unplugged it??
[14:20] {rambler} PRAN perking up.....
[14:24] {RonS} dino how did u end up on jdsu?
[14:24] {dino}  still in
[14:24] {dino} stop .69
[14:26] {dino} ffiv 112 to 91 in 5 days, was 129 few weeks ago
[14:27] {dino} opticals hated
[14:27] {rambler} bot PRAN   4.23..
[14:32] {nemo} slw
[14:32] {rambler} sold PRAN  quick +.10
[14:33] {RonS} ka-shew...
[14:33] {dino} gj
[14:34] {RonS} getting ready for the sneeze...
[14:35] {nemo} oh yeah, no sign of him
[14:36] {RonS} lol...think 3 i's got a little harem going here...
[14:36] {Threei}  hmm?
[14:37] {nemo} you know what "harem" means in arabic?
[14:37] {Threei}  my ear perked
[14:37] {Threei}  oh come on nemo
[14:37] {RonS} nope
[14:37] {nemo} "forbidden"
[14:37] {Threei}  I learned to p[roounce that word before "ma"
[14:38] {RonS} rotflol
[14:38] {nemo} well, we know you didn't learn to spell it
[14:38] {nemo} speaking of no mind.....mcp
[14:40] {rambler} oil over 105...
[14:41] {kschun} hello all!
[14:42] {Threei}  hi ks
[14:42] {kschun} you definitely did not promis too much with tao :-)
[14:42] {nemo} ?
[14:42] {kschun} thanks already, just read one little part, and already worth the price 100X :-)
[14:42] {kschun} @nemo: taoist trader
[14:44] {nemo} White House spokesman says Japan and oil prices won't hurt recovery....WTF!!!
[14:44] {kschun} who traded PRAN yesterday? nice one... :-) and congrats
[14:44] {dino} rambler i think
[14:44] {nemo} yes
[14:45] {rambler} yup, huge vol on pran today....
[14:46] {kschun} nice one rambler!
[14:46] {rambler} only got pieces of it but still o.k.
[14:48] {rambler} REDF going again...
[14:51] {rambler} ROYL going...
[14:52] {Threei}  remember all the happy cooperation between Sirius XM and Howard Stern?
[14:52] {Threei}  (SIRI Sued by Howard Stern Production company
[14:56] {kschun} bougth some VRX
[14:57] {dino} bsft drop
[15:05] {kschun} having some problems to access your website vad
[15:09] {nemo} watch fcx for short
[15:09] {nemo} below .55 might work
[15:10] {kschun} not sure, up-volume is quite good in it
[15:11] {nemo} gonna depend on market
[15:15] {Threei}  works now ks, was some kind of brief hiccup on the server
[15:19] {kschun} o.k. thanks vad
[15:24] {Threei}  (LB) White House Press Sec: US Pres Obama, UK's Cameron, France's Sarkozy have agreed NATO should conduct the enforcement of the no fly zone in Libya
[15:24] {Threei}  - NOTE: Financial Press earlier commenting on signs of discord among UN countries about how to proceed in Libya, pointing to France's efforts to go against Nato's plan at the start of the military operations; France said to have launched first attack on Libya without fully informing its allies angered officials in the US and UK.
[15:24] {Threei}  god... what a mess
[15:24] {nemo} frig, one cent off 1:1
[15:25] {Threei}  3 days in, they still have no mission defined and already can't decide who does what
[15:27] {kschun} @nemo: hat those ones... :-(
[15:27] {kschun} hate...
[15:28] {nemo} Ich hasse Den auch
[15:28] {kschun} :-)
[15:29] {dino}  jdsu stopped
[15:32] {rambler} ROYL great looking swing chart...
[15:32] {nemo} 1:1 sheesh
[15:32] {Threei}  strange... normally activity picks up about this time, but we still have nothing
[15:33] {Threei}  except interesting announcement by Castro
[15:33] {Threei}  who says he quit as Communist Party chief 5 years ago
[15:33] {Threei}  why it's important now, who knows
[15:33] {kschun} LOL
[15:33] {dino} out eqr .65 +.30
[15:34] {Threei}  (LB) Germany withdraws forces from NATO Mediterranean operations, due to non-participation in Libya mission - financial press
[15:34] {dino} back in 10
[15:34] {Threei}  this I didn't get
[15:39] {nemo} ok, big volume fcx, if it doesn't rebound here, should continue down
[15:39] {kschun} yep, nice job nemo
[15:39] {nemo} thank god my hair is already gray...white...whatever
[15:40] {nemo} lvs at interesting point...but a bit late
[15:40] {nemo} wow mcp
[15:40] {nemo} vwap on spy is .49, doubt it get's higher
[15:41] {kschun} ah... missed LVS on consolidation above 38...
[15:41] {Threei}  I had this thought on MCP about 2 dollars ago, that this may be the one to buy and forget till eod
[15:41] {nemo} 1:2
[15:42] {nemo} I'm out .30
[15:43] {nemo} figures
[15:43] {magoo} mcp vad, agree take small size to avoid shakeout
[15:43] {magoo} sayt 300 shares, 2 bux ago
[15:44] {kschun} did stop trading. 4 trades, 3 losers, 1 still open flat. but risk management was o.k. did reduce risk loser after loser
[15:45] {kschun} so easy to take this loosing day
[15:46] {kschun} but it is really interesting: I often begin just to feel when I really would like to start overtrading / revenge trading. So I probably begin to understand myself better.
[15:46] {kschun} problem today was that I traded poor setups. not really what I wanted to see, but there was nothing better looking so I tried.
[15:47] {nemo} never shoot when there's nothing to shoot
[15:47] {kschun} however - all in all I did my homework and improved by not doing the errors I really want to avoid
[15:47] {kschun} yep nemo :-)
[15:48] {nemo} I would add another "error to avoid" to your list
[15:49] {rambler} bot DANG to swing...
[15:49] {nemo} that looks good
[15:49] {rambler} closing strong....so far
[15:51] {rambler} MCP past 52
[15:51] {kschun} intraday chart o.k. but not liking daily. but just my opinion on DANG
[15:51] {nemo} Verstehen Sie doch? noch ein Fehler vermeiden?
[15:51] {kschun} :-) nemo
[15:51] {kschun} will try it :-)
[15:52] {nemo} Man muss "wu wei" verstehen
[15:54] {rambler} CHGS up 65 % today......crying...
[15:55] {rambler} and finishing strong
[15:55] {kschun} boy what a bounce...
[15:57] {rambler} bot SPPI to swing...
[15:57] {Threei}  spike into close again, MCP
[15:57] {kschun} nice chart SPPI
[15:58] {kschun} o.k. guys I am out. thanks all, great eve to you! thanks vad!
[15:59] {Threei}  thank you all
[15:59] {Threei}  have a good evening
[15:59] {Threei}  see you tomorrow
[16:00] {rambler} sold DANG ...+.16
[16:01] {rambler} 2 stocks overnight one to many for me...
[16:01] {rambler} thanks Vad, cya all in the a.m.
[16:07] {dino} thx all, gn