Monday, May 23, 2011

May 23 2011

Slightly negative day as stops outnumbered wins. Hectic jumps up and down with no rhyme - not really my kind of market. Or it was simply a time to have a losing day finally.

Session Time: Mon May 23 00:00:00 2011
[09:02] {dino} gm all
[09:02] {Threei}  morning dino
[09:03] {RonS} gm everyone
[09:04] {davd} big drop gm
[09:04] {Threei}  ron, davd :)
[09:04] {RonS} exciting day
[09:04] {davd} welcome back 3i - what do you think of the opening bell?
[09:04] {Threei}  euro land is finally shwing true colors
[09:05] {patience} gm guys
[09:05] {RonS} all greece, all the time...feels like the start of the oj trial
[09:05] {Threei}  patience :)
[09:05] {rizvisy1} gm all
[09:05] {Threei}  riz :)
[09:06] {Threei}  I am amazed it took so long
[09:06] {Threei}  this situation in Europe was so obviously troublesome for quite a while
[09:07] {davd} trade what you see, not what you think.  markets been up a quite a bit since europe prob came to be.  could be a suckers drop this morning?
[09:08] {Threei}  my view is, markets simply reflected temporary relief while crisis was being papered over
[09:09] {Threei}  sooner or later that had to be called
[09:09] {Threei}  and it's happening,
[09:09] {Threei}  with a nasty twist:
[09:09] {Threei}  from little pimples, like Greece, Ireland and Portugal, to big cahuna - Spain
[09:10] {Threei}  which actually was predicted jusrt as well
[09:10] {davd} ... and the hesitancy of the northern frey to chip in a help
[09:10] {larisa} gm :)
[09:10] {Threei}  but as always, markets work against the obvious
[09:10] {Threei}  larisa :)
[09:11] {larisa} vad :)
[09:11] {davd} aka "climb the wall of worry"...
[09:23] {jfjf64} mornin
[09:24] {Threei}  jf :)
[09:24] {Threei}  great
[09:24] {Threei}  my quotes are off
[09:25] {Threei}  leave for one frikin day, your broker doesn't recognize you anymore
[09:25] {jfjf64} my pants off
[09:25] {jfjf64} lol
[09:25] {ese} morning
[09:25] {Threei}  TMI
[09:25] {Threei}  ese :)
[09:27] {dino}  .
[09:28] {Threei}  sorry guys, on phone, trying to find out what's wrong
[09:27] {davd} you're on the phone with greece?
[09:28] {dino} gaps below, 12086, 2306, 1312 then 11859, 2221, 1279
[09:28] {Threei}  where is SPY now?
[09:29] {nemo} 131.98
[09:29] {Threei}  ty
[09:30] {Threei}  crap... sorry guys
[09:30] {Threei}  be back as soon as quotes restored
[09:32] {Threei}  APR CHICAGO FED NAT ACTIVITY INDEX: -0.45 V +0.20E
[09:36] {Threei}  let me guess... sharp drop?
[09:37] {nemo} no
[09:37] {jfjf64} yuk
[09:37] {jfjf64} back to bed
[09:37] {Threei}  wait
[09:37] {Threei}  here comes quotes
[09:38] {Threei}  whew
[09:38] {Threei}  ok
[09:38] {Threei} Short Setup: SLW  .95 break
[09:38] {Threei}  if stays under .005
[09:39] {Threei}  invalidated, but watching for another trigger
[09:40] {Threei} Short Setup: X  44 break
[09:40] {nemo} resource stocks strong
[09:40] {Threei}  X isn't
[09:40] {Threei}  stop above .10
[09:40] {Threei}  1:1
[09:41] {Threei} Short Setup: SLW  35 brea
[09:41] {Threei}  if stays under .10
[09:42] {Threei}  invalidated
[09:42] {dino} wlk sm l .00
[09:43] {Threei}  X again, same setup
[09:44] {Threei} Long Setup:  NVDA  .95 break
[09:44] {Threei}  X is not a scalp
[09:44] {jfjf64} 4 someone whose quotes  are down
[09:45] {Threei}  can do much more
[09:45] {Threei}  needs to lose .90
[09:46] {Threei}  then there is no bottom in sight till 43.50
[09:46] {Threei}  NVDA stop under .85
[09:46] {Threei}  stop is still above .10 on X
[09:47] {jfjf64} dieeeeeeeeeeeeeeeeeeeeeeeee
[09:47] {Threei}  stopped
[09:47] {dino} nvda sm l .00
[09:48] {Threei} Short Setup: RIMM  .60 break
[09:49] {Threei}  if stays under .70
[09:51] {nemo} that .56 bid catapulted it
[09:51] {Threei}  no go
[09:51] {Threei}  hmm... is my brain still on vacation?
[09:52] {nemo} yeah...time to regroup
[09:52] {Threei}  or it's just a time to have a losing day, been a while since I had one
[09:53] {jfjf64} naaaaaaaaaa
[09:53] {jfjf64} pot
[09:53] {jfjf64} dtop
[09:53] {Threei}  let's move to half lot until confident streak is restored
[09:53] {jfjf64} missed
[09:53] {nemo} I'm stopped for the day C U 2morow
[09:54] {dino} cya
[09:56] {Threei}  NVDA, let's trail stop to under .90
[09:57] {Threei}  holding well but time to tighten risk
[09:57] {dino} sm l vit .26
[09:59] {Threei}  1:1 NVDA, half out
[09:59] {Threei}  stop to .94 for the balance
[10:01] {Threei} Long Setup:  LVS  .70 break
[10:03] {ese} LNG.....have been looking to get go
[10:04] {ese} missed the one pull back
[10:04] {rizvisy1} 3i stop for LVS?
[10:04] {Threei}  under .60
[10:05] {dino} we go positive today
[10:05] {rizvisy1} got filled at .70
[10:05] {Threei}  NVDA is crawling to ward 1:2
[10:06] {Threei}  no go LVS
[10:07] {ese} I think things will go positive today dino......this greece italy thing is just bein excuse that way i see to shake out soe shares
[10:08] {dino} agreed, the real players already know
[10:12] {Threei}  come on NVDA... 2 cents to 1:2, and you reverse?
[10:12] {Threei}  yeah
[10:12] {Threei}  out second half b/e
[10:12] {Threei}  rinse most likely but
[10:14] {Threei} Short Setup: FCX  .40 break
[10:14] {Threei}  oops, late
[10:14] {Threei}  OK, second chance
[10:14] {Threei}  stop above .50
[10:18] {Threei}  1;1
[10:19] {dino} 2306 filled
[10:20] {Threei}  1:2, out
[10:21] {Threei}  wow, 1:3
[10:21] {Threei}  too bad without me
[10:21] {Threei}  but wanted to secure one nicer win
[10:22] {samire} stop loss ?
[10:22] {Threei}  ?
[10:22] {Threei}  on what
[10:23] {Threei}  we are out with 20 cents profit
[10:24] {ese} ISS dino.....let me know what you think
[10:24] {samire} FCX
[10:24] {Threei}  we are out with 20 cents profit on FCX
[10:24] {samire} meant new stop
[10:24] {samire} sold 1/2
[10:24] {samire} .27 second
[10:24] {Threei}  if you are still holding part, .41
[10:25] {dino} up ese
[10:25] {Threei}  although with 1:3 reached, I would be long out
[10:25] {samire} yes..that what i meant
[10:25] {ese} me thinks that also
[10:25] {dino} sm l .00 iss
[10:25] {samire} sold second .27
[10:25] {samire} covered
[10:25] {Threei}  and first?
[10:26] {samire} .12
[10:26] {Threei}  nice
[10:26] {ese} L iss .02
[10:26] {Threei}  sheesh, ISS is ugly...
[10:26] {Threei}  on daily
[10:26] {samire} thank u
[10:26] {Threei}  intraday does improve
[10:26] {ese} ya
[10:27] {ese} SoftStone Holdings Reports Q1 $0.10 v $0.08e, R$56.9M v $55Me
[10:30] {Threei}  (PO) Portugal Fin Min Dos Santos: Debt restructuring is not on the table for Portugal; all major political parties support fiscal reform - CNBC
[10:30] {Threei}  - European Union will do whatever is necessary to maintain the EMU.
[10:31] {Threei}  (EU) EU Offical: There is potential for Iceland volcanic eruption to affect NW Europe, the UK and Ireland
[10:32] {Threei}  watch CAT for long entry on pullback to about .40 - .45
[10:33] {ese} ya know dino when you go your small 400shs......tends to take the edge off...very relaxed way to trade
[10:34] {ese} I think you've got something here
[10:34] {Threei}  .45 was it
[10:34] {Threei}  too fast to alert exact entry
[10:36] {ese} let me ask you this ...where would you put a stop on something this...ISS below the low o the day or .25 retrace?
[10:36] {ese} or whats your preferece
[10:37] {dino} :)
[10:37] {Threei}  CAT is not an entry this time
[10:37] {dino} .73 stop
[10:37] {Threei}  let it drop more
[10:38] {ese} how did you arrive at that......30 cents and your out
[10:38] {dino} tdsc sm l .26 stop .99
[10:38] {dino} r/r ese. want min. .30 gain or wou;d not enter
[10:39] {ese} gotcha
[10:40] {dino} any trade that i say sm, want t least .30 gain
[10:40] {ese} so my target with iss should be .32 with your system
[10:40] {ese} cool
[10:41] {ese} take the $120 and have coffee
[10:41] {dino} yes
[10:41] {Threei}  and now, or the most impressive news of ther day:
[10:41] {Threei}  (SP) Spanish government nearing selection of advisers for IPO of national lottery - financial press
[10:42] {dino} if we get .40 on it trail to .30, lock some in
[10:42] {ese} are you in iss......missed that post
[10:42] {dino} y .00
[10:43] {dino} out vit .66, +.40
[10:43] {ese} baaasstad!!!! beat by .02
[10:43] {dino} posted above, just after you asked me to look at it
[10:44] {ese} blind.....dumb as well it appears
[10:45] {dino} panl?
[10:46] {dino} sm l .76
[10:49] {Threei}  market trades a little bit drunkenly today
[10:49] {Threei}  locked in range, but makes quite sudden moves
[10:49] {dino} stumbling around aimlessly
[10:49] {samire} did u give any alchohol  ?????
[10:50] {ese} thats part of the deal when you sign on....vad sends a case of your favorite over
[10:51] {ese} stops you from over thinking when you trade
[10:51] {Threei}  hmmm
[10:51] {Threei}  I thought it was other way around
[10:51] {ese} lol
[10:52] {ese} you do however sluuur you salllables alot
[10:52] {Threei}  not I know why I never got a case of Russian Standard from you, and why I am getting all these daily e-mails from you demanding your case of Chardonne
[10:52] {Threei}  not = now
[10:52] {ese} lol
[10:53] {Threei}  look at SPY
[10:53] {Threei}  this quite weird drop followed by immediate spike
[10:53] {Threei}  happens sometimes... but today it seems to be all that is happening
[10:54] {Threei}  most often such things are caused by news, but there is none
[10:54] {RonS} tight correlation w/ eur action 3i
[10:54] {Threei}  yes, very
[10:54] {Threei}  here is my 2 cents guys, on Europe
[10:55] {Threei}  I'll have to express respectful disagreement with your point of view that Europe is old news
[10:55] {Threei}  to me it feels this way:
[10:55] {Threei}  it's an ongoing crisis, and it's a very liquid situation,
[10:55] {ese} hmmmmm
[10:56] {Threei}  where fear of resolution and hope to see the can being kicked further down the road compete
[10:56] {Threei}  players know that resolution will be ugly,
[10:56] {ese} ok.....i can buy that but this has been out there
[10:57] {Threei}  thus, it's not about whether resolution will or will not be happy,
[10:57] {Threei}  it's about whether it comes NOW
[10:57] {Threei}  ort wthether they manage to stave it off again
[10:57] {Threei}  if they do, today's players don't care about what happens 3 years from now,
[10:57] {Threei}  they trade in the NOW
[10:57] {Threei}  and they will pocket a lot of money between now and 3 years later
[10:58] {ese} an excuse to create some volitility
[10:58] {Threei}  so, any sign of things being stabilized get bought
[10:58] {Threei}  not because major players sincerely believe in stability
[10:59] {Threei}  but simply because end of the world tomorrow leaves the window to trade today
[10:59] {dino} i'll give you that, but players also know that it will be extended
[10:59] {Threei}  and that's exactly why Euro rallies, market does too
[10:59] {dino} it will be a brady bond plan for eupore
[10:59] {ese} hense the volitility argument
[11:00] {Threei}  and any sign of troubles brewing in a more serious way kills Euro and market,
[11:00] {Threei}  because as much as they believe in stabilzing measures working for a while,
[11:00] {dino} which, imo, are reasons to buy
[11:00] {Threei}  they also know that things can change on a dime
[11:01] {Threei}  situation in many countries are volatile, social pressures are huge
[11:01] {Threei}  and it takes just one of them to cave
[11:01] {Threei}  and contagin will spread like fire
[11:01] {Threei}  contagion too
[11:01] {samire} made some money on PANL...Thanks to whoever posted it
[11:02] {dino} me
[11:02] {samire} Thanks Dino
[11:02] {dino} np, gj
[11:02] {samire} do i owe any thing ?
[11:02] {dino} a beer
[11:02] {Threei}  and taxes
[11:02] {samire} got it
[11:02] {samire} attachment
[11:03] {dino} lol
[11:05] {samire} Vad...can you open a private chat ?
[11:06] {Threei}  just double click on the udername you want to chat with
[11:06] {Threei}  type in new window
[11:07] {Threei}  and if they don't answer for the next 30 min, you know that they don't see it or don;t want to talk :)
[11:07] {dino} out iss .30, +.30 ty ese
[11:07] {samire} it is not working
[11:08] {Threei}  who are you trying to message?
[11:08] {samire} u
[11:08] {Threei}  no window appear
[11:08] {Threei}  just doubleclick on my nick
[11:08] {samire} no window
[11:09] {dino} out panl .08, +.32
[11:09] {Threei}  wtg
[11:09] {dino} ty
[11:10] {ese} not a the sell in there at .32
[11:10] {Threei}  you see window I opened samire??
[11:11] {dino} tsra drop
[11:12] {ese} out .27
[11:12] {ese} +.23
[11:14] {dino} gj
[11:14] {ese} you as well
[11:14] {dino} tsra sm l .90
[11:17] {Threei}  OK, if things continue trading the way they have so far,
[11:17] {samire} no windows Vad
[11:17] {Threei}  look again. window with my name on it
[11:17] {Threei}  in the upper bar
[11:17] {Threei}  where #discussions and #floor are
[11:17] {Threei}  we should get a bounce any minute now
[11:18] {Threei}  then new selling
[11:18] {Threei}  let's track it and if it materializes, next cycle we will try to tarde
[11:22] {Threei} Long Setup:  FCX  .90 break
[11:23] {dino} out tsra .26, +.36
[11:24] {Threei}  stop under .80, target 1:2
[11:24] {Threei}  two partials
[11:28] {Threei}  takes too long
[11:28] {Threei}  normally this kind should working faster
[11:28] {Threei}  let's tighten stop to .84
[11:30] {Threei}  out
[11:33] {Threei}  good tightening, would have been stopped anyway
[11:36] {Threei}  serious smackdown
[11:38] {Threei}  no news
[11:38] {Threei}  this selling seems to become serious, each bounce will be sold into
[11:41] {dino} out wlk .52, +.52
[11:45] {Threei}  SLW
[11:46] {Threei}  this bounce into .50 resistance, watching if provided short entry
[11:46] {dino} typo, wlk was -.48
[11:57] {Threei}  (GR) Greece govt to provide outline of mid-term fiscal plans next week, to seek vote on plan in parliament in June - financial press
[12:02] {Threei}  intraday SPY chart is like drawing produced by a tail of drunken mule
[12:07] {Threei}  I have strong feeling more selling in cards
[12:08] {Threei}  while waiting for a proper setup,
[12:08] {Threei}  this is a very sad state of affairs:
[12:08] {Threei}  75% Say Oprah Has Been Influential in Shaping Public Perceptions
[12:13] {Threei}  what the
[12:13] {Threei}  they drop with no setup
[12:13] {Threei}  some news this time though
[12:13] {Threei}  (BE) Fitch Revises Belgium's Outlook to Negative; Affirms at 'AA+'
[12:18] {dino} 1312 gap fill
[12:18] {Threei} Short Setup: SLW  .20 break
[12:22] {dino} sm l panl .50
[12:22] {ese} L KKD .77
[12:27] {Threei}  invalidated
[12:27] {ese} no way i'm still goin......ohhhhhhhhh you mean your trade
[12:27] {ese} ahhhhhhhhhh
[12:27] {Threei}  lol
[12:32] {davd} yeeshh belgium downgraded.  so much for blaming the southerners
[12:32] {Threei}  Fitch is equal opportunity downgrader
[12:33] {davd} gld is at hod
[12:33] {davd} uup
[12:33] {davd} oops ignore uup
[12:34] {rizvisy1} uup
[12:34] {davd} a neighbor is smoking pot - i might be getting 2nd hand high?
[12:34] {dino} lol
[12:35] {ese} out 1/2 kkd .06 +.08
[12:35] {dino} gj
[12:35] {Threei}  I doubt it works this way davd... I tried to watch a drinker once, in hope to save money yet achieve the result - didn't work at all
[12:35] {dino} only mad me annoyed watching the drinker
[12:36] {Threei}  ese was already under the table, happy as a clam, and I was hopelessly sober...
[12:36] {Threei}  dropped that nonsense, and joined him in 5 drinks and 20 minutes
[12:37] {ese} buggar it out in full kkd .06 +.08
[12:38] {ese} had to be a worlk record
[12:38] {ese} world
[12:39] {ese} only problem with it is that nobody does that and lives........can't figure out how vad does it
[12:40] {davd} actually, second hand smoke cures a nic fit nicely
[12:41] {dino} out tdsc .60, +.34
[12:41] {ese} you one of those people that snorts a line of tabacco dave
[12:43] {ese} through a large size mac donalds coke drink straw
[12:43] {ese} answer honestly now.......
[12:54] {Threei} Inc Amazon tablet computer to be available in 7 in and 10 in versions, to utilize NVIDIA's Tegra quad-core chip - PC Magazine (update)
[12:54] {Threei}  - Device will use a display similar to the one in the Nook and the Galaxy Tab. They also tell me that the original proposal wanted a screen that could switch between an easy-to-read black and white E Ink-like display and a color LCD, but that this type of screen, which is already in the works by at least two vendors, will not be ready for the market until at least 2012 or early 2013.
[12:54] {Threei}  wow
[12:55] {Threei}  tablet space really becomes crowded
[12:55] {Threei}  only lazy doesn't make a tablet
[13:23] {nemo} finished my stuff, looks like a coma day
[13:25] {RonS} ya, can't get comfortable w/ anything in either direction
[13:25] {samire} market is not moving
[13:25] {Threei}  coma, nemo
[13:26] {nemo} [13:23] {nemo} finished my stuff, looks like a coma day
[13:30] {Threei}  these wierd spikes...
[13:31] {Threei}  still feels like there is a trade ahead of us
[13:32] {nemo} wierd spikes or weird spikes?
[13:33] {Threei}  not that it makes much difference but weird
[13:33] {nemo} I'm bored
[13:33] {nemo} haven't seen a day like this in a long time
[13:33] {nemo} probably last August
[13:37] {Threei}  quite unusual, I agree
[13:48] {dino}   zzzzzzzzzzzz
[13:48] {ese} wow.........dead
[13:59] {dino}  bounce
[13:59] {Threei}  and sharp apike again, with no news
[13:59] {dino} cbst spike
[13:59] {Threei}  was thinking of SLW .35 long,
[14:00] {Threei}  but no consolidation, then it just spiked
[14:04] {dino} cbst sm s .28
[14:05] {dino} cov .95, +.33
[14:05] {dino} glad drop
[14:07] {dino} sm l glad .85
[14:11] {Threei}  (UK) Regional air carrier in Scotland cancels Tuesday flights due to ash from Icelandic volcano - US press
[14:14] {Threei}  grrrr
[14:14] {Threei}  this one got away
[14:14] {Threei}  was hoping for a pullback
[14:19] {Threei}  SLW, let's try to find a bottom of pullback
[14:20] {nemo} CNH Dino...ur kinda' stock
[14:21] {dino} hmmm
[14:21] {nemo} hehehehehe
[14:23] {Threei} Long Setup:  SLW  .50 break
[14:26] {dino} glad stop -..35
[14:26] {davd} in slw .5
[14:26] {Threei}  why glad? ok, no big sadness, but glad?
[14:28] {dino} yeah\
[14:30] {Threei}  let's keep stop under .45
[14:30] {Threei}  not willing to give it much breathing room
[14:30] {nemo} following index
[14:37] {Threei}  move your butt SLW
[14:37] {dino} cnh sm l .25
[14:37] {Threei}  what the deuce
[14:38] {samire} did it hit our stop  ?
[14:38] {samire} .45
[14:38] {Threei}  14:30] {Threei} let's keep stop under .45
[14:38] {Threei}  UNDER
[14:38] {Threei}  which it didn't
[14:38] {samire} ok
[14:38] {nemo} .44 or less would be stop
[14:38] {dino} out panl .95, +.45
[14:38] {samire} i am still in
[14:38] {Threei}  wtg
[14:39] {dino} ty, took couple hours
[14:44] {Threei}  OK
[14:44] {Threei}  this is officially not my day
[14:45] {nemo} that's o.k. my day officially ended before 10...I'm back purely for entertainment purposes
[14:45] {nemo} so....
[14:45] {nemo} entertain me....
[14:45] {Threei}  these sudden moves up and down cause seasickness while not producing anything tradeablke
[14:45] {dino} trying to
[14:46] {samire} alcohol traces
[14:46] {samire} too many drinks
[14:46] {nemo} traces....nahhhh...not here...nothin but teetotalers
[14:48] {ese} my daughters coming from New York gotta go pick her....cya tomorrow
[14:48] {RonS} cya ese
[14:49] {Threei}  take care ese
[14:49] {dino} cya ese
[15:01] {RonS} c youz all manana...thunder and ligtening causing my feed to freeze. don't want to get stuck in a trade...
[15:02] {Threei}  wow
[15:03] {dino} cya ron
[15:09] {dino} out nvda +.15 all day
[15:11] {Threei}  oh boy
[15:11] {Threei}  your patience is beyond belief... it just must be coma that helps you stay that long with them
[15:13] {dino} lol
[15:33] {Threei}  OK, m y last atemot to squeeze something out of markret
[15:33] {Threei} Short Setup: SLW  .45
[15:33] {Threei}  .55 stop
[15:35] {dino} out cnh -.06
[15:44] {Threei}  1:1
[15:44] {Threei}  sheesh, did I win one finally??
[15:44] {Threei}  lol
[15:48] {_pragmatic} are you still in ?
[15:48] {Threei}  no
[15:48] {Threei}  too close to eod
[15:48] {_pragmatic} :)
[15:48] {Threei}  and I had troubles getting even 1:1 for the whole day
[15:48] {Threei}  so merrily grabbed it while it was there to grab
[15:52] {Threei}  4 wins today
[15:52] {Threei}  didn't count stops but they obviously overtook
[15:52] {Threei}  5 or 6 I think
[15:54] {Threei}  OK guys, let's have a good evening, and get them tomorrow
[15:54] {Threei}  thank you all, see you all in the morning
[16:02] {dino} gn all, thx for ideas, good day