Friday, June 17, 2011

Beauty of aggressive entries

Another nicely profitable day, and cool catch for the Catch of the Day, pardon the tautology. Beauty of aggressive entries, see for details.

41 break on TZA was obvious setup and the way to play market breakdown which we expected. However, good luck trying to enter on this type of breaks, as price just zooms past your limit entries. Aggressive entry demonstrated on the chart was just the ticket.

Session Time: Fri Jun 17 00:00:00 2011
[09:00] {Threei} Greece govt confirms no-confidence vote to be held on June 21st
[09:00] {Threei} (GE) Germany Deputy Fin Min Asumussen: Greek IMF tranche agreement might come at meeting this weekend; Reiterates view that investor role in Greece must be "voluntary, substantial"
[09:00] {Threei} **On Jun 16th EU Commissioner Rehn stated thnat he was confident that Greece would receive the next tranche in early July and avoid default and expected a deal on next tranche to be agreed to on June 19th
[09:12] {dino} gm all
[09:12] {Threei} dino :)
[09:13] {larisa} gm :)
[09:14] {Threei} larisa :)
[09:14] {larisa} vad :)
[09:14] {patience} good morning
[09:14] {Threei} patience :)
[09:14] {davd} sometimes rumors are started just so they can later be denied
[09:15] {davd} re hillay and the imf bank head position. im sure she somehow started this rumor so she could later say no
[09:15] {dino} wow rimm
[09:15] {Threei} well... if RIMM started rumor asbout bad earnings and losaing market share, it sure worked wonders
[09:15] {davd} exactly rimm intentionally sucks of the quarter just so it can say that next quarter will be better
[09:16] {Threei} I don't know... something in RIMMM's situation makes me think this is the beginning of the end
[09:17] {rizvisy1} gm
[09:17] {Threei} tablets is the main game these days
[09:17] {Threei} and they are losing it
[09:17] {Threei} riz :)
[09:18] {Threei} maybe decision to tie internet connection to blackberry phone was a mistake
[09:18] {Threei} their tablet itself is great
[09:18] {Threei} but the requirement to pair it with their phone to go online makes it no go for too many
[09:22] {rizvisy1} wow, RIMM -5.78 since yesterday close
[09:25] {dino} rimm starting to feel like palm
[09:25] {Threei} exactly my impression
[09:27] {davd} or aol
[09:28] {Threei} downgrades galore of course, on RIMM
[09:31] {jfjf64} hey hey
[09:31] {Threei} Short Setup: RIMM .40 break half lot
[09:31] {Threei} jf :)
[09:32] {Threei} change to .50
[09:32] {Threei} if stays under .60
[09:32] {Threei} 1:1
[09:32] {Threei} half out
[09:33] {Threei} stop .51
[09:34] {Threei} Short Setup: FCX .30 break
[09:34] {dino} kro sm l .91
[09:36] {Threei} stop is so obvious on FCX, I won't insult your intelligence by emtnioning it
[09:37] {Threei} come on... 1 cent to 1:1?
[09:37] {Natali} gm:)
[09:37] {Threei} let's trail to .36
[09:37] {Threei} natali :)
[09:38] {Threei} 1:1, halg out
[09:38] {Threei} scalpers take profit
[09:38] {Threei} stop to .31
[09:39] {Threei} ron, remember our yesterday's discussion of diff types of halts?
[09:39] {Threei} this oen is a real killer:
[09:39] {Threei} YUII Halted: information request from Nasdaq
[09:39] {RonS} yes
[09:40] {Threei} 1:2 baby
[09:41] {Threei} stop to .25 for the last piece
[09:46] {Threei} RIMM lost ground
[09:49] {Threei} doesn't look to me like ready for bounce
[09:49] {Threei} rather another drop
[09:52] {dino} paml sm l .75
[09:53] {nemo} you mean "panl"?
[09:53] {dino} y, sorry
[09:53] {Threei} or PALM?
[09:53] {nemo} Mary?
[09:53] {RonS} cree new 52 week low
[09:53] {Threei} they need another presidential visit
[09:55] {dino} kro stop, -.35
[09:55] {Threei} *(US) JUN PRELIMINARY UNIVERSITY OF MICHIGAN CONFIDENCE: 71.8 V 74.0E- 1 yr median inflation expectations at 4.0% v 4.1% May final - 5 yr median inflation expectations at 3.0% v 2.9% May final.
[10:00] {Threei} *(US) MAY LEADING INDICATORS: 0.8% V 0.3%E
[10:02] {dino} sina sm l .00
[10:04] {dino} out sina .48, +.38
[10:05] {jfjf64} gj
[10:05] {dino} ty
[10:05] {Threei} nice one
[10:05] {Threei} told ya you'll get them today
[10:05] {jfjf64} rcl dtop
[10:05] {jfjf64} .05
[10:05] {jfjf64} break short'
[10:08] {jfjf64} half out
[10:12] {samire} nice
[10:13] {Threei} speaking of double tops or bottoms,
[10:13] {Threei} everyone checked out yesterday's catch of the day?
[10:13] {Threei} RIMM... what a heartbreaker
[10:14] {Threei} widowmaker
[10:14] {nemo} double bottom 1st hammer high volume outside BB, second hammer lower volume inside BB?
[10:14] {Threei} yes nemo that one - and I know your next line :)
[10:14] {nemo} what's that
[10:14] {nemo} ?
[10:14] {Threei} [10:14] {nemo} nope, haven't looked
[10:15] {nemo} no, my next line was:[10:14] {nemo} what's that
[10:15] {nemo} [10:14] {nemo} ?
[10:15] {Threei} ok... general song is the same, just different refrain :)
[10:16] {dino} sina sm l .00
[10:17] {RonS} 3i look 2 day cof...short on .30 break?
[10:17] {samire} stop on sina....dino ?
[10:18] {Threei} probably aggressive entry would be better idea Ron
[10:18] {Threei} resistance is a little too far from .30
[10:18] {dino} .69
[10:18] {samire} thanx
[10:18] {jfjf64} 1/4 more rcl
[10:19] {RonS} gotcha
[10:19] {jfjf64} stop .91 remainder
[10:19] {dino} out sina .32, +.32
[10:19] {dino} too soon
[10:20] {jfjf64} dieeeeeeee
[10:21] {samire} thanx Dino...made good money....where do i mail the check
[10:22] {samire} on sina
[10:23] {dino} lol, gj
[10:28] {jfjf64} momma needs new pair of shoes
[10:28] {dino} sina sm l .75
[10:28] {jfjf64} done rcl
[10:29] {samire} stop dino ?
[10:30] {samire} out .96
[10:30] {dino} out sina .05, +.30
[10:30] {samire} thanx dino
[10:30] {ese} morning.....slept in.......had a show last night and didn't get in until2am.......hows things
[10:30] {Threei} hi ese
[10:30] {Threei} so far so good
[10:30] {dino} gj sami
[10:30] {samire} + 470 from dino today
[10:30] {Threei} RIMM wished it could say so
[10:31] {dino} doing better than i sami, 384 here
[10:31] {jfjf64} lol
[10:32] {Threei} btw, gotta share this
[10:32] {Threei}
[10:32] {samire} dino ....please add to your future chat room
[10:33] {samire} i love to be in many rooms
[10:33] {samire} at the same time
[10:33] {RonS} careful, that's how weiner started...
[10:34] {Threei} rofl
[10:34] {dino} lol
[10:34] {jfjf64} nice pics 3i
[10:34] {jfjf64} where??
[10:35] {Threei} right here, in Victoria
[10:35] {samire} at the same time?
[10:35] {jfjf64} looks beautiful vicky
[10:35] {samire} typo
[10:35] {jfjf64} really
[10:35] {Threei} RIMM... should be ready soon
[10:36] {Threei} sharp dive under .50 asnd bounce is likely scenario
[10:37] {Threei} get ready who is willing to risk it
[10:37] {Threei} high risk play
[10:37] {Threei} .50 recross if holding .40,
[10:37] {Threei} if losing it, 10 cents ranges from that point on
[10:39] {samire} never went under .50
[10:39] {samire} agree ???? any body ?
[10:40] {Threei} what to agree or disagree? .52 is low
[10:40] {Threei} why would anyone argue with it?
[10:40] {samire} so we did not take
[10:40] {samire} correct ?
[10:41] {Threei} no, not the setup I wanted
[10:41] {samire} thanx
[10:41] {Threei} but samire, I really am not sure what you are asking
[10:41] {samire} still learning
[10:41] {samire} to copy exactly your trades
[10:41] {jfjf64} never stop sammy
[10:41] {Threei} just trying to understand, are my explanations of setup unclear
[10:42] {dino} sina sm l .34
[10:42] {dino} out sina .64, +.30
[10:43] {samire} too fast 4 me dino
[10:43] {dino} panl stop -.35
[10:43] {jfjf64} lol
[10:43] {jfjf64} you made more $ on his last call
[10:43] {jfjf64} whaata expect
[10:44] {RonS} fave weiner headline: weiner yanks himself
[10:45] {jfjf64} the best
[10:45] {dino} roflol
[10:45] {samire} did not take panl
[10:45] {dino} weiner goes soft and quits
[10:47] {RonS} another: weiner can't keep it up limps away
[10:47] {dino} lol
[10:48] {dino} sina sm l .60
[10:49] {samire} in .70
[10:49] {dino} out sina .00, +.40
[10:49] {samire} 0ut .00
[10:50] {samire} thanx dino
[10:50] {dino} gj
[10:52] {samire} dino...what is your average profit per day in cents (example + 0.74 a day)
[10:52] {samire} for the last 30 days
[10:52] {samire} including losses
[10:52] {dino} dk sami, this week was not too good
[10:53] {samire} average of 30 days
[10:54] {dino} my ave daily is $400-600, but this week i am light
[10:54] {samire} ok
[10:57] {Threei} anyone found RIMM entry?
[10:59] {dino} not yet, gut thinks "better worlds"
[11:00] {Threei} hard to argue
[11:00] {Threei} RIMM is a balck hole
[11:00] {Threei} black
[11:00] {Threei} just little bounces, exploiting natural volatility
[11:01] {dino} yeah
[11:08] {dino} ndx open gap fill
[11:11] {dino} sina sm l .22
[11:13] {samire} thanx dino again
[11:13] {dino} out sina .72, +.50
[11:13] {dino} gj sami
[11:14] {samire} i am reaching expert level now
[11:14] {samire} in copying of course
[11:20] {dino} de sm l .10
[11:20] {dino} tfm sm l .00
[11:20] {RonS} seems like rimm is going to punish the early weak longs by going sub 27's and then rip the shorts
[11:21] {dino} 25 feels like magnet
[11:22] {RonS} dino needs a new de mower...
[11:22] {dino} would like one :D
[11:24] {samire} stop on de ?
[11:24] {Threei} btw guys, conference video links are fixed
[11:25] {Threei}
[11:25] {Threei} and
[11:25] {Threei}
[11:25] {Threei} information for the Whistler one is still not finalized
[11:25] {samire} dino....what is your stop on de
[11:25] {dino} lod sami
[11:25] {samire} thanx
[11:30] {samire} thanx dino for de
[11:30] {samire} out + .11
[11:31] {dino} gj
[11:31] {samire} sold .21
[11:31] {samire} did not like the price action
[11:32] {samire} settled for small scalp
[11:32] {dino} so far you are right
[11:34] {samire} i am becoming a super star
[11:34] {rizvisy1} dino, sm is for small number of share right?
[11:34] {samire} yes
[11:34] {samire} and smr
[11:34] {dino} yes riz
[11:35] {rizvisy1} ok thanks
[11:35] {dino} sm=400, smr=300, hl 500, nothing mentioned-1000
[11:36] {dino} obviously sami is using bigger lots as he is out earning me on my picks
[11:36] {samire} CHECK IN THE MAIL
[11:36] {rizvisy1} lol
[11:36] {rizvisy1} look like following thru well
[11:36] {dino} no, you pulled the trigger, you own it
[11:37] {RonS} mini ese 1k, ese 2k, jumbo ese 4k, crazy ese 10k, magoo 20k
[11:37] {rizvisy1} did you see my pm, if Iam not on ignore
[11:37] {samire} dino look at sina
[11:37] {samire} i called it
[11:37] {rizvisy1} Ron is big time player, lol
[11:37] {samire} lol
[11:38] {dino} been looking at it, wanted the pullback to 81.50, no go
[11:39] {samire} where is Vad ?
[11:39] {Threei} still in Canada
[11:39] {RonS} lol
[11:39] {dino} riz yes, replied
[11:40] {samire} call some thing please
[11:40] {Threei} hmmm... my wife is home
[11:40] {Threei} I can't call some random pretty things while she is within earshot
[11:41] {samire} is she a trader ?
[11:42] {RonS} bet yes...trades 3i's money for things...
[11:42] {Threei} lol
[11:43] {dino} lol ron
[11:44] {rizvisy1} lol
[11:44] {samire} is moving.....congrat
[11:46] {samire} r u still holding de ?
[11:47] {samire} Vad...did you take any trades today.....i logged in 30 minutes after market opened
[11:48] {Threei} of course
[11:48] {samire} wins ?
[11:48] {Threei} yes
[11:48] {Threei} RIMM short,
[11:48] {ese} hey Ron.....verrrrrrrryyyyyyy funny!
[11:48] {Threei} FCX short
[11:50] {samire} i missed both
[11:50] {samire} did u win both
[11:51] {dino} out tfm .42, +.42
[11:51] {Threei} yes
[11:52] {dino} sami, yes still in
[11:52] {samire} no
[11:52] {samire} only took de
[11:57] {samire} i did not take tfm
[11:58] {samire} i should have
[11:59] {dino} out de .40, +.30
[11:59] {samire} gj
[12:03] {RonS} lol:
[12:06] {dino} ty sami, going to slow down, good morning and friday afternoons usually suck
[12:08] {samire} dino for 2012 president
[12:10] {RonS} mco hahaha...sec weighing civil fraud charges...
[12:10] {dino} they should ron
[12:10] {RonS} ya, about 2 years ago...
[12:11] {dino} agreed
[12:12] {rizvisy1} Sam you switch you presidential nomination each day, two days back it was Vad, lol
[12:13] {rizvisy1} lol,I hope you don't believe in one day presidential system
[12:14] {samire} it will be you Monday
[12:15] {rizvisy1} hah, you make me so very happy
[12:15] {samire} i am mad at Vad because he took 2 early trades without me....then nothing
[12:15] {Threei} hmmm
[12:16] {Threei} oh well... I got so many people mad at me at various points of my life and for various reasons... one more, not much difference {G}
[12:19] {dino} i say, you mad at me, i'm mad at you. so we're even
[12:21] {Threei} ese, look dcc please
[12:26] {Threei} TZA
[12:26] {Threei} looking for entry on pullback
[12:27] {Threei} if my read on the market is right, we are going to bounce a bit, then selloff resumes and accelerates
[12:27] {Threei} TZA around .40 would be perfect
[12:33] {rizvisy1} Shares of Research In Motion (RIMM 27.43, -7.90) had been declining gradually since February, but today they have plummeted more than 20% so that they now trade at their lowest level in more than four years.
[12:35] {samire} had the right idea on TZA
[12:35] {Threei} depth of pullback was not enough for confident entry
[12:35] {samire} great try
[12:35] {Threei} .54 low
[12:36] {samire} i understand
[12:36] {Threei} sometimes general read is correct but exact entry just doesn't come tigether
[12:36] {Threei} I wouldn't feel comfirtable with entry above .50
[12:36] {Threei} no support to under .40
[12:41] {dino} jst
[12:42] {Threei} crap
[12:42] {Threei} this TZA trade really got away eh
[12:42] {dino} 07 all red
[12:43] {Threei} ese, you here?
[12:46] {dino} jst sm l .86
[12:50] {Threei} let's start trying to market breakdown
[12:50] {Threei} Long Setup: TZA .90 break if stays above .80
[12:51] {Threei} actual setup is of course 41 break, I want aggressive entry
[12:51] {Threei} not a scalp
[12:51] {Threei} want to start partialing into spike after 41 break
[12:51] {Threei} 1:1
[12:52] {Threei} half out .15
[12:52] {Threei} samire is no longer mad at me
[12:52] {Threei} (I hope)
[12:52] {dino} lol
[12:53] {Threei} 25 cents on first partial, not too shabby
[12:54] {Threei} second partial above .30
[12:54] {Threei} out .31
[12:54] {Threei} 1/4 left
[12:54] {nemo} probably get bounce at .24 on iwm
[12:54] {Threei} 40 cents on second partial
[12:55] {nemo} below that .11
[12:55] {Threei} samire!
[12:55] {Threei} do tell me you are happy
[12:57] {nemo} alright, bounced at .26
[13:07] {patience} nice run on tza
[13:07] {nemo} fine, I just took .26 tna
[13:08] {dino} out jst .20, +.34
[13:08] {nemo} spy and IWM were DBing
[13:09] {dino} too soon
[13:13] {nemo} got spy test inside BB
[13:15] {nemo} iff iwm drops .24 should go to .11
[13:15] {nemo} spy clear ride to .45
[13:18] {Threei} over and out TZA
[13:18] {Threei} +.65
[13:18] {samire} great job
[13:18] {samire} Vad 4 president
06[13:19] * nemo slaps samire around a bit with a large trout
[13:19] {dino} gj
[13:19] {nemo} most excellent trader dude
[13:21] {samire} in de l
[13:21] {rizvisy1} Sam long you mean?
[13:23] {samire} y
[13:23] {samire} long de
[13:24] {samire} too late now
[13:24] {samire} went in .42
[13:25] {rizvisy1} saw that
[13:27] {samire} out .62
[13:27] {samire} + .20
[13:28] {samire} de
[13:28] {dino} sm l panl .86
[13:28] {dino} gj de sami
[13:47] {Threei} SLW
[13:47] {Threei} tests the low
[13:50] {dino} panl stop -.36
[13:54] {Threei} be back in 20
[13:54] {rizvisy1} dino... panl went upto .97 did you scalped or missed it?
[13:55] {rizvisy1} I thought it was +ve trade for you
[13:56] {dino} wanted .16, so no
[13:57] {rizvisy1} oh ok
[14:08] {dino} wow panl. -17 in june alone
[14:14] {Threei} back
[14:19] {dino} how did i miss panl bounce
[14:29] {davd} spy vwap .45
[14:38] {dino} regn drop
[14:38] {dino} gap fill
[14:39] {dino} sm l .75
[14:41] {dino} gpro spike
[14:46] {dino} out regn .stop-.25
[14:46] {dino} typical friday afternoon give back
[14:48] {dino} rinsed
[14:50] {rizvisy1} dino .. you are not alone
[14:50] {rizvisy1} rinsed and gone back down
[14:52] {rizvisy1} waiting for Vad THE Savior...
[14:54] {dino} damn
[14:54] {dino} look at it go w/o me
[14:55] {Threei} I feel exhausted riz
[14:55] {dino} tequilla helps bring you back
[14:55] {Threei} lol
[14:55] {rizvisy1} why leader? what were you doing in 20 min/
[14:56] {rizvisy1} or its exhaustion of whole week
[14:56] {Threei} yeah
[14:56] {Threei} wasn't the easiest week for the market, and we fared very well
[14:56] {rizvisy1} agree
[14:59] {rizvisy1} well, we are still here to say bye to rough week,
[15:00] {Threei} just don't feel like doing anything else today
[15:00] {Threei} how about we finish the eek on this winning note
[15:00] {patience} it was a positive trading week for me, thanks to vad 's calls. made my daily 4 out of 5 days :)
[15:00] {Threei} let's do just that, and pick up where we ended next week
[15:00] {Threei} thank you all, have a great relaxing weekend
[15:00] {Threei} see you all on Monday
[15:01] {Threei} check out today's catch of the day
[15:01] {dino} cya vad, gj
[15:01] {rizvisy1} bye Vad
[15:03] {jfjf64} ty
[15:04] {dino} sami, where you at today? 9of13 here
[15:15] {rizvisy1} dino, lookig to short tfm around 35.00 any ideas?
[15:18] {dino} don't think it will get there
[15:19] {dino} regn drop
[15:19] {nemo} this may be longs getting out for the Greek weekend
[15:20] {dino} sm l .33 regn
[15:25] {dino} .98 is stop
[15:25] {rizvisy1} ok
[15:26] {dino} stop
[15:26] {rizvisy1} out
[15:26] {dino} calling it a week. thx all, good times
[15:27] {rizvisy1} bye dino, great weekend
[15:27] {dino} u2, gl
[15:27] {rizvisy1} thanks once again
[15:28] {dino} np