Friday, May 27, 2011

May 27 2011

Lackluster day finishing teeth-pulling week. Pre-long-weekend trading.

Session Time: Fri May 27 00:00:01 2011
[09:08] {rizvisy1} gm everyone
[09:09] {patience} gm, it's Friday!!!!
[09:10] {Threei}  good morning
[09:21] {Threei}  did we decide to take a day off today??
[09:22] {ese} morning
[09:23] {RonS} gm
[09:23] {Threei}  ese :)
[09:23] {larisa} gm :)
[09:23] {Threei}  Ron :)
[09:23] {Threei}  larisa :)
[09:23] {ese} day off from what?
[09:23] {ese} ron laris
[09:23] {Threei}  dunno... everyone seems to be asleep
[09:23] {patience} well i'm up $410 on overnight trades, so if i sell off in a few minutes, sure
[09:24] {ese} what trades patience
[09:24] {patience} holding abx mainloy, but also gg and slw
[09:24] {ese} that beats my $75.00 up o sify
[09:25] {patience} then i can trot down to oak bay municipal hall and hand it over for property taxes ese
[09:25] {ese} i'll say....we just got ours as well
[09:25] {ese} owning 2 houses houses here is a killer
[09:26] {Threei}  we are crying for you ese
[09:26] {patience} totally
[09:26] {ese} ha ha
[09:27] {Threei}  he owes two houses in the second-most expensive jurisdiction in Canada
[09:27] {Threei}  everyone: ohh... poor guy
[09:27] {Threei}  owes = owns
[09:28] {ese} no no........owes is the correct term
[09:28] {Threei}  lol
[09:28] {jfjf64} mornin 2 all
[09:28] {Threei}  ok then :)
[09:28] {Threei}  jf :)
[09:28] {patience} but he has to mow 2 lawns vad, year round
[09:28] {ese} jf
[09:28] {jfjf64} ese
[09:28] {Threei}  watching TTWO for possible short
[09:30] {Threei}  half lot .40 break
[09:31] {Threei}  if stays under .55
[09:31] {Threei}  invalidated
[09:32] {jfjf64} slw
[09:33] {nemo} TNA has moved all of .15 in 3 minutes, does the market have a pulse?
[09:33] {Threei} Short Setup: RIMM  43 break
[09:34] {jfjf64} .15
[09:34] {jfjf64} stop
[09:34] {Threei}  well, it's friday before the long weekend
[09:34] {nemo} yep
[09:34] {patience} in tck
[09:34] {jfjf64} in rimm
[09:36] {Threei}  (GR) Greece politicians fail to reach an agreement to deal with debt crisis - financial press
[09:36] {jfjf64} comon  baby
[09:36] {ese} out SIFY .92 +.16
[09:36] {RonS} wow brcm
[09:37] {Threei}  hmm
[09:37] {Threei}  no news that I see
[09:38] {Threei}  so far so good RIMM
[09:38] {Threei}  weak while market moves up
[09:38] {jfjf64} schhh
[09:38] {Threei}  should die when market pulls back
[09:39] {jfjf64} comon  mkt
[09:39] {jfjf64} dieeeeeeeeeee
[09:39] {nemo} spy closed gap in premarket, will likely test
[09:39] {Threei}  RIMM starts looking like milk trade
[09:40] {jfjf64} jf  likes  milk
[09:40] {Threei}  really??
[09:40] {jfjf64} ba ba
[09:41] {jfjf64} out
[09:41] {nemo} milk went sour
[09:41] {jfjf64} yes
[09:42] {jfjf64} or  maybe  not
[09:42] {jfjf64} i  jumped  off
[09:42] {Threei}  US) Preview: May Final University of Michigan Confidence Index due out at 09:55ET**Consensus expectation: 72.4e v 72.4 May Prelim
[09:43] {Threei}  (US) Preview: Apr Pending Home Sales due out at 10:00 ET
[09:43] {Threei}  out
[09:44] {Threei}  too bad, this one had great potential
[09:44] {jfjf64} no  damage
[09:46] {jfjf64} nem
[09:46] {jfjf64} .85  break
[09:46] {jfjf64} imo
[09:47] {Threei} Long Setup:  CAT  .85 break half lot
[09:47] {Threei}  stop under .70
[09:48] {rizvisy1} probably TTWO had great potential , lol
[09:48] {samire} did rimm triger ?
[09:48] {patience} out tck, abx
[09:48] {samire} sorry did cat trigger
[09:49] {Threei}  yes
[09:50] {Threei}  (GR) German CDU party official Meister: Germany ready to help Greece sell asets; Debt reprofiling remains an option
[09:50] {Threei}  - The issue of asset sales and reprofiling are linked
[09:50] {Threei}  - Does not share ECB opposition to debt reprofiling
[09:51] {Threei}  numbers are close...
[09:52] {Threei}  no go
[09:52] {Threei}  hate holding volatile position that close to numbers
[09:52] {samire} cat was stopped correct ?
[09:53] {Threei}  samire, do you have quotes??
[09:53] {samire} yes
[09:53] {samire} stopped
[09:53] {samire} just to confirm
[09:54] {larisa} {no go} means stopped
[09:54] {samire} ok
[09:54] {Threei}  variation: no worky
[09:54] {jfjf64} dont  get  larisa   mad
[09:54] {samire} thanks
[09:54] {Threei}  let's wait out numbers
[09:55] {Threei}  frikin CAT
[09:55] {Threei}  rinse
[09:56] {samire} 100 dollars stock should be given more room...ow opinion
[09:56] {samire} own
[09:56] {Threei}  so make your modifications
[09:56] {Threei}  and trade acccording to your risk profile
[09:56] {jfjf64} rimm
[09:56] {samire} ok
[09:56] {jfjf64} rince
[09:56] {jfjf64} f     k
[09:57] {jfjf64} stop  .15
[09:57] {rizvisy1} rimm rinse
[09:59] {Threei}  OK, this I really hate
[09:59] {Threei}  both trades work like charm - after rinsing us out
[10:00] {rizvisy1} exactly this happened...
[10:00] {nemo} summer pattern, this happened last year
[10:00] {nemo} we're one step early
[10:00] {rizvisy1} more painstaking
[10:00] {Threei}  *(US) APR PENDING HOME SALES M/M: -11.6% V -1.0%E; Y/Y: -26.8% V -11.5% PRIOR
[10:02] {Threei}  yikes
[10:03] {jfjf64} very  negative  great  ulysses
[10:03] {jfjf64} PMA
[10:04] {RonS} ?
[10:04] {jfjf64} positive   metal  attitude
[10:04] {jfjf64} this  summer   we  rock
[10:04] {RonS} sounds like u should work for the TSA
[10:05] {jfjf64} lol
[10:06] {jfjf64} gld
[10:06] {jfjf64} fightin
[10:07] {patience} vad, you feel any pullback time in tck?
[10:08] {Threei}  can't tell really
[10:08] {ese} home sales not a forward looking indicator though
[10:08] {RonS} ctxs breakout
[10:09] {Threei} Short Setup: LVS  .60 break
[10:10] {jfjf64} late
[10:10] {Threei}  who? for what?
[10:10] {jfjf64} in
[10:12] {davd} housing beat sentiment?
[10:13] {Threei}  well, housing numbers were seriously bad
[10:13] {Threei}  while sentiment - moderately good
[10:13] {Threei}  if LVS doesn't work, I'll cut my wrists with banana
[10:14] {nemo} and sentiment is fantasy
[10:15] {rizvisy1} Vad, don't do that we still need you ,lol
[10:15] {Threei}  ok, where is that banana
[10:15] {Threei}  one of those days, huh
[10:15] {_pragmatic} :) :)
[10:15] {Threei}  alternatively, I may eat larisa's keyboard
[10:22] {jfjf64} s   mcp .97
[10:23] {jfjf64} dieeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee
[10:24] {nemo} DRC
[10:24] {nemo} huge seller .60-.61
[10:28] {Threei}  break of the dam
[10:29] {jfjf64} comon  mcp
[10:30] {jfjf64} 63.00  a  wall
[10:31] {ese} L QPSA .21 3/4
[10:33] {Threei} Short Setup: SLW  .55 break
[10:35] {nemo} think I'll wait for it to rinse you then enter
[10:37] {ese} lol
[10:42] {Threei}  stop to .61
[10:43] {patience} in tck nov calls
[10:43] {Threei}  your move, nemo
[10:45] {nemo} ESRX
[10:46] {RonS} esrx...selloff prob in sympathy w/ mhs losing $3 bil contract to cvs
[10:47] {Threei} Long Setup:  FCX  .40 break
[10:47] {Threei}  for nemo - under .30
[10:48] {nemo} VWAP is .43
[10:58] {Threei}  believe it or not - 1:1
[10:59] {Threei}  what, no takers?
[10:59] {Threei}  whimps
[11:00] {_pragmatic} out (+.10) and back to work. See you next Tue
[11:00] {Threei}  lol
[11:00] {Threei}  take care
[11:00] {ese} cya prag
[11:02] {ese} L hgg .60
[11:03] {ese} stop .50
[11:08] {Threei}  1:2
[11:08] {Threei}  out in full
[11:08] {Threei}  there... and you thought I couldn't trade 25 cents for a phone call
[11:25] {jfjf64} outta  heree    see all tuesday  
[11:25] {jfjf64} enjoy
[11:26] {Threei}  take care jf, have a great long weekend
[11:26] {RonS} cya jf
[11:26] {jfjf64} yes
[11:26] {Threei}  and don;'t cry if we hook a big one later today
[11:26] {jfjf64} u  too  my  friend
[11:26] {Threei}  :)
[11:28] {ese} stopped......hgg .49 -.11
[11:52] {Threei} Short Setup: RIMM  .50 break
[11:57] {RonS} in .57
[11:57] {Threei}  nice entry
[11:57] {RonS} just trying to make sure you know we are awake
[11:59] {Threei}  ty
[11:59] {Threei}  it makes a difference
[12:03] {Threei}  RIMM, are you blind?
[12:04] {Threei}  UUP up, market down, SLW sinks like a rock
[12:07] {Threei}  shrug
[12:12] {Threei}  (GR) European treasury officials are said to be discussing a rollover of Greece debt with various European banks - financial press
[12:13] {Threei}  I take it. masrket has accepted that Greece has no chance in hell to remain solvent
[12:13] {Threei}  it's about contagion and Spain now
[12:39] {Threei}  with a lot of protests in Europe and Egypt scheduled for the weekend, and it being a long one... don't we have ti have some selling to eod?
[12:40] {RonS} no
[12:40] {nemo} I think we get some whipsaw and then end about here on the spy
[12:41] {RonS} only retail left now...
[12:42] {davd} remember, the high flyers are up on window dressing and could fall back on tuesday imo
[12:43] {patience} .
[12:56] {Threei}  well... I must try RIMM short on .80 break
[12:57] {rizvisy1} it heard you..
[12:57] {Threei}  if it doesn't set up it's fine
[12:57] {Threei}  it's when they do set up, then rinse, then work - that I feel like eating someone's keyboard
[12:58] {Threei}  larisa's comes to mind the most often
[12:58] {rizvisy1} jnpr
[12:58] {rizvisy1} jnpr
[12:59] {rizvisy1} see any setup with JNPR?
[13:00] {Threei}  not really
[13:01] {rizvisy1} I guess it will be on recovery path, history says
[13:10] {Threei}  so, the secret to profits today is to take any, even if less than 1:1
[13:10] {nemo} seems we might have to think about buying support and not breakouts unless the stock is in play
[13:11] {rizvisy1} 1:1 for jnpr already
[13:15] {ese} .
[13:15] {Threei}  good point
[13:16] {ese} ya my scanner are working in slow motion........tough week/weeks to find stuff
[13:17] {ese} still long qpsa.......will hold it to the end of the day
[13:19] {Threei}  die already RIMM
[13:23] {Threei}  fially
[13:23] {Threei}  1;1
[13:30] {ese} nice one with rimm vad......just checking out that chart
[13:33] {ese} gonna try to check in later
[13:56] {Threei}  JNPR put in nice double bottom
[13:56] {Threei}  a bit too narrow, but chart configured well
[13:56] {rizvisy1} good sp at 37
[13:57] {rizvisy1} extended trend line from yesterday
[13:58] {rizvisy1} I believe it was well oversold
[13:59] {RonS} Have a good weekend everyone...cutting out early.
[13:59] {rizvisy1} here it goes
[13:59] {Threei}  take care ron, have a good long one
[14:01] {rizvisy1} pretty much aligned with market
[14:07] {Threei}  ugh
[14:07] {Threei}  thought of another RIMM short near .80
[14:07] {Threei}  got away, this one
[14:07] {rizvisy1} would have been great idea
[14:23] {Threei}  witching this bounce for possibkle entry
[14:23] {Threei}  watching too
[14:24] {rizvisy1} for RIMM?
[14:24] {Threei}  yeah
[14:45] {patience} .
[14:49] {Threei}  here comes my selling into eod?
[14:49] {Threei}  and ron is not here to hear my "told ya so"?
[14:49] {Threei}  sigh,,, life is so unfair
[15:01] {Threei}  market losing ground
[15:02] {Threei}  RIMM .50 break for a scalp
[15:06] {Threei} Short Setup: SLW  .45 break if stays under .50
[15:12] {Threei} Short Setup: SLW  .50 break if stays under .55
[15:23] {Threei}  looks ready
[15:23] {Threei}  double top
[15:25] {Threei}  ok... triple
[15:30] {nemo} you're gonna love this, hit some key thing I know, bought 800 shares...didn't even know of what
[15:30] {nemo} look, TNA
[15:30] {nemo} goes up .12
[15:30] {Threei}  hmmm
[15:30] {patience} did that yesterday, but with abx
[15:30] {Threei}  you better disable ythat
[15:30] {nemo} as you would say my A$$ was out
[15:32] {nemo} yeah, trying to figure that out now, didn't think they worked when mouse mode was enabled
[15:32] {nemo} that was weird
[15:36] {Threei}  what the deuce
[15:38] {nemo} what?
[15:38] {Threei}  SPY spike
[15:39] {nemo} well, yeah, vwap is .53 monthly pivot point is .58
[15:40] {rizvisy1} SLW still valid?
[15:42] {Threei}  I don't know what to say... spikes up and down with no rhyme or reason
[15:43] {nemo}
[15:43] {nemo} look where vwap is and the solid lighter yellow line is the monthly pivot point
[15:44] {nemo} the IWM is pinned at the VWAP at the moment
[15:45] {rizvisy1} Have a good weekend
[15:45] {rizvisy1} bye
[15:45] {nemo} mom and dad in the nest
[15:45] {Threei}  take care, you too
[15:50] {Threei}  ok guys, let's finish this annoying week
[15:50] {Threei}  have a greatg relaxing long weekend
[15:50] {nemo} peace and quiet
[15:50] {Threei}  see you all on Tuesday
[15:50] {patience} thanks very much vad