Friday, June 24, 2011

Jun 24 2011

Started the day with quick 6 wins out of 7 trades - all in first 30 minutes. The things became murkier, took a stop, took a scalp. All in all, no reason to complain.

Session Time: Fri Jun 24 00:00:00 2011
[07:38] {davd} ..
[08:30] {nemo} morning, good reports?
[08:30] {Threei}  *(US) Q1 FINAL GDP Q/Q ANNUALIZED: 1.9% V 1.9%E; PERSONAL CONSUMPTION: 2.2% V 2.2%E
[08:30] {Threei}  good morning
[09:01] {Threei}  (GE) Greece PM: Parliament will vote on two bills next week; affirms that Greece has secured the fifth tranche of its loan plus a new bailout facility
[09:01] {dino} gm all
[09:01] {Threei}  (US) Q1 Final Core PCE Q/Q: 1.6% v 1.4%e; GDP Price Index: 2.0% v 1.9%e
[09:01] {Threei}  dino :)
[09:08] {gen} gm :)
[09:08] {Threei}  gen :)
[09:08] {Threei}  really pity you had to leave yesterday... we've got two beautiful plays at the last hour
[09:09] {davd} beauts baby
[09:12] {dino} couldn't be helped, gram died
[09:12] {Threei}  sorry :(
[09:12] {dino} thx
[09:12] {nemo} wow...sorry,
[09:13] {dino} thx
[09:22] {RonS} gm...Southern Union agrees to be acquired by Energy Transfer for $33 a share, about $4.2 billion, ignoring Williams’ superior bid of $39.
[09:23] {Threei}  ron :)
[09:25] {samire} gm
[09:25] {Threei}  samire :)
[09:26] {samire} which stock are you watching at the open
[09:28] {Threei}  usual suspects
[09:28] {Threei}  SLW
[09:28] {Threei}  RIMM
[09:28] {Threei}  FCX
[09:29] {Threei}  no clear opening play yet
[09:29] {jfjf64} mornin
[09:29] {ese} gm
[09:30] {jfjf64} see i missed  another late  trade  yest
[09:30] {Threei}  jf, ese :)
[09:30] {Threei}  two jf...
[09:31] {Threei} Short Setup: SLW  .95 break half lot
[09:32] {Threei}  if stays under .10
[09:32] {Threei}  correct it to 33 break
[09:33] {Threei}  target .75 at least, maybe more
[09:33] {Threei}  first partial around .80 - .85
[09:34] {Threei}  half out
[09:34] {jfjf64} lol
[09:34] {jfjf64} nice
[09:35] {Threei}  stop to .06
[09:35] {Threei}  should go undr .70
[09:36] {Threei}  original target hit
[09:36] {Threei}  if you held the balance, trail stop to .01
[09:37] {Threei}  to .95 now
[09:37] {Threei}  done
[09:39] {Threei} Long Setup:  RIMM  .80 break
[09:39] {Threei}  1:1
[09:40] {Threei}  stop to .74 if partialing
[09:41] {Threei} Short Setup: FCX  .50 break
[09:42] {Threei}  1:2
[09:42] {nemo} dramamine please
[09:42] {Threei}  things happen fast and furious this morning
[09:42] {dino} gj
[09:42] {nemo} Russell rebalancing today
[09:44] {Threei} Short Setup: FCX  .50 break
[09:44] {Threei}  yes, again
[09:44] {davd} nemo is that historically bullish or otherwise?
[09:44] {Threei} Long Setup:  FCX  .55 break
[09:45] {Threei}  short it is
[09:45] {nemo} for the stocks going into the index yes
[09:45] {Threei}  1;1
[09:45] {nemo} oh you confused me, it was a two way
[09:47] {Threei}  two way but somewhat unusual, in that long trigger was closer than the stop for the short trigger
[09:47] {Threei}  1:3
[09:47] {Threei}  out
[09:47] {Threei}  can I go home?
[09:47] {jfjf64} not  yet
[09:48] {samire} you are home
[09:48] {Threei} Long Setup:  RIMM  .40 break
[09:48] {jfjf64} ned to make up 4 trades i missed
[09:48] {Threei}  aww, late
[09:48] {Threei}  wait for pullbavk
[09:49] {Threei}  ok, valid again
[09:49] {Threei}  same setup, in
[09:49] {Threei}  held by fingertips
[09:50] {Threei}  so far so good, long tail
[09:50] {Threei}  close this canmdle above .40
[09:50] {Threei}  and should be fine
[09:51] {Threei}  1:1
[09:51] {jfjf64} gooooo
[09:51] {Threei}  stop to .38
[09:54] {Threei}  target .75
[09:55] {Threei}  out
[09:56] {Threei}  OK, continuing at this pace until first stop
[09:56] {Threei} Long Setup:  FCX  .40 break
[09:56] {Threei}  if stays above .30
[09:56] {Threei} Long Setup:  SLW  .95 break
[09:57] {Threei}  1:1 FCX
[09:57] {jfjf64} go  vad
[09:57] {jfjf64} go vad
[09:57] {Threei}  SLW, if stays above .85
[10:00] {dino} sfsf sm l .45
[10:01] {Threei}  SLW stopped
[10:02] {Threei}  taking breath
[10:02] {jfjf64} well  deserved
[10:02] {jfjf64} ty
[10:02] {jfjf64} good  job
[10:02] {Threei}  7 trades in 30 min
[10:03] {Threei}  6/1
[10:04] {ese} L onty .62
[10:05] {RonS} took sfsf .60 to .92  mini ese size  thanks dino
[10:06] {ese} out 1/2 .70 2k
[10:07] {ese} balance to break even .63
[10:07] {dino} gj
[10:07] {ese} tks
[10:07] {ese} trying to make up for the +.02 profit yesterday
[10:08] {Threei}  ugh
[10:08] {Threei}  SLW .75 break was so tempting
[10:08] {Threei}  decided to skip it, now crying in my own shoulder
[10:08] {dino} out sfsf .75, +.30
[10:09] {nemo} thought that shoulder fell off?
[10:09] {nemo} from patting yourself on the back
[10:09] {Threei}  right
[10:09] {Threei}  so it's very convenient now to cry in
[10:09] {ese} good one dino
[10:09] {Threei}  I just pick it up from the floor and put under my eyes
[10:09] {dino} ty
[10:11] {jfjf64} grr
[10:11] {dino} drop coming imo
[10:11] {jfjf64} was  watchin    xlnx    dtop
[10:11] {jfjf64} ahh vey
[10:11] {jfjf64} oh  boy
[10:12] {jfjf64} sound  like  nemo
[10:12] {ese} onty balance stopped even
[10:12] {dino} gj
[10:13] {Threei}  nice selling pressure, adn should continue after little bounce
[10:13] {Threei}  watching FCX for short above .20
[10:14] {Threei}  closer to .30 would be ideal
[10:14] {Threei}  and SLW above .70
[10:18] {Threei}  no bounce
[10:18] {Threei}  sitting in the ditch, waiting for my antelope
[10:25] {Threei}  FCX provided just what was required with spike over .20, just too fast to alert
[10:27] {Threei} Long Setup:  FCX  .10 break
[10:28] {ese} in
[10:28] {dino} sfsf blood
[10:28] {Threei}  stop for scalpers under 49, day traders .95
[10:28] {ese} .10
[10:28] {ese} L onty also .65
[10:30] {ese} .63
[10:32] {ese} was gonna pull the trigger on fcx....lets see what happens on this run
[10:33] {ese} hmmmmmmm
[10:34] {dino} sfsf sm l .60 wide
[10:36] {RonS} took sfsf .68 to .94  thanks dino
[10:36] {dino} gj
[10:36] {dino} pulp
[10:37] {samire} strange market
[10:37] {samire} up and down
[10:37] {RonS} news...makes you nervous...
[10:37] {dino} every day is like 3 days
[10:39] {ese} indrrd
[10:39] {ese} indeed
[10:40] {ese} 4th X bouncing off .00 fcx
[10:41] {samire} is that good  ?
[10:41] {ese} ya...suppose to
[10:42] {ese} crap....stopped .98 fcx
[10:42] {ese} -.12
[10:44] {Threei}  (US) US Rep Frank (D-MA): Concerned about debt ceiling discussions, markets have a right to be jittery - CNBC interview
[10:44] {Threei}  thanks barney
[10:44] {Threei}  I hold nemo responsible
[10:45] {ese} out 1/2 onty .71 2k +.06
[10:45] {ese} balance to break even .65
[10:50] {ese} fairly relentless selling the last 2 days
[10:51] {dino} lol, last two months
[10:52] {ese} just thinking about the gravity of that statment.........thats bloody dangerous.....what is that idiot thinking
[10:52] {RonS} barney been blathering for decades...noone cares about him
[10:53] {dino} nuva sm l .75
[10:53] {ese} it was a statement like that that caused the market crash april 2000 by some idiot
[10:54] {ese} ya your right ...that women was an analyst at least
[10:58] {ese} am liken the ONTY is holding....good sign of strength here
[10:59] {ese} way
[10:59] {samire} what a day
[11:00] {ese} better than yesterday for me
[11:07] {ese} ok.......lets play a game........I know a secret and you don't?.......hmmmmmmmm
[11:07] {nemo} you're a hermaphrodite?
[11:07] {RonS} lol
[11:08] {ese} lol
[11:08] {ese} nah....thats not it.......
[11:08] {ese} ok I'll tell ya
[11:08] {ese} Vad looks awesome in a tux........
[11:09] {Threei}  why thank you
[11:10] {ese} trust me I know.......after playing with 4 symphony orchestras here in Canada........I know tuxes
[11:13] {davd} poss db spy off s1?
[11:14] {Threei}  doesn't feel this way davd
[11:14] {ese} i don't think so either Dave
[11:15] {Threei}  (CH) US anti-trust regulators are said to be ready to sign an agreement with Chinese regulators - US financial press
[11:15] {Threei}  beautiful
[11:15] {Threei}  my variation:
[11:15] {nemo} o.k. we'll let you guys bend our investors over
[11:15] {ese} thats a "so what"
[11:15] {Threei}  (CH) US anti-trust regulators are said to be ready to sign an agreement with Chinese regulators not to regulate each other
[11:17] {ese} lol
[11:18] {davd} interesting 30yr cant move up today re tlt
[11:19] {Threei} Long Setup:  JPM  .65 break
[11:22] {Threei}  changing to aggressive
[11:22] {Threei}  .60 break if holding .55
[11:22] {ese} out onty .99 2k +.34
[11:22] {RonS} wow ese gj
[11:23] {Threei}  nice ese
[11:24] {dino}  wtg
[11:24] {ese} tks........if Vads not feeling well the day of the Shiskabob party i'll have to buy the I need that
[11:24] {Threei}  davd... may I revisit my answer about SPY bottoming and change it to yes?
[11:25] {Threei}  yeah right ese... as if you could buy this quality anywhere
[11:25] {ese} lol
[11:27] {davd} sorry too late
[11:27] {davd} :s
[11:28] {Threei}  well, then I'll have to apply selling pressure to the market to make my first answer valid
[11:28] {Threei}  so if we sell off hard today, it's going to be your fault
[11:28] {Threei}  you could protect markets by allowing me a mulligan... and elected not to do so
[11:29] {jfjf64} how  come  im  not  invited  to  shish  ka bob   bq
[11:29] {Threei}  you are
[11:29] {Threei}  fly over
[11:29] {jfjf64} send  my  air  fare
[11:29] {Threei}  hmmm
[11:30] {Threei}  I thought I did this morning
[11:30] {jfjf64} was  that  a  hmmm    yes
[11:30] {jfjf64} or  a  hmmm     no way
[11:30] {jfjf64} lol
[11:31] {Threei}  it was hmm, I guess I'll stick to locals - even if they demand that I pay for gas for them to get to my place, it will be less ruinous to the party budget {G}
[11:34] {ese} lol
[11:35] {jfjf64} least  ya  cd  send  me  one  of  ya  famous  ka  bobs
[11:45] {dino} nuva to .06
[11:48] {dino} out nuva .10, +.35
[11:58] {Threei}  I'll be back in 20-30 min guys
[11:59] {dino} .
[12:26] {ese} thats a good one dino.....
[12:26] {nemo} bored, huh...
[12:26] {ese} thought about that one earlier......
[12:30] {dino}  thx
[12:34] {Threei}  back
[12:35] {Threei}  still there I see
[12:39] {dino} out sfsf to .49
[12:40] {dino} stop to .49
[12:42] {dino} to .60
[12:44] {dino} out ave .61, +1.01, tough one took awhile
[12:45] {Threei}  wow
[12:45] {Threei}  nice
[12:51] {dino} thx
[12:51] {dino} ctrp sm l .30
[12:52] {davd} spy at s1
[12:57] {samire} thanx dino for ctrp
[12:57] {samire} = .12
[12:57] {samire} +
[12:57] {samire} out
[12:57] {dino} gj
[12:57] {samire} what is your target ?
[12:59] {dino} .60
[13:04] {davd} spy below s1
[13:08] {Threei}  and it's all your fault davd
[13:08] {Threei} Long Setup:  TZAS  39 break
[13:08] {Threei}  TZA
[13:08] {Threei}  sorry
[13:09] {nemo} and I was thinking tna long
[13:09] {Threei}  you still may be right
[13:10] {Threei}  mine didn't trigger
[13:10] {nemo} mine did
[13:10] {samire} update on TZA ?
[13:10] {nemo} invalidated samire
[13:10] {samire} thanx
[13:11] {Threei}  can reestablish itself
[13:11] {samire} ok
[13:11] {Threei}  let's not dismiss it completely for now
[13:11] {Threei}  this kind of breakdowns often go through several cycles of invalidation/revalidation
[13:12] {nemo} Russell 2000 rebalancing today, could get hectic in tna/tza
[13:22] {samire} go vlo
[13:23] {nemo} Is the paint dry yet?
[13:25] {samire} no
[13:42] {RonS} spx goes 3 pts and ctrp 3 cents...sheesh
[13:42] {dino}  where you in?
[13:42] {RonS} .30
[13:58] {dino}  nothings moving
[14:05] {samire} yes
[14:08] {Threei}  TZA is back on watch
[14:08] {ese} zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz
[14:08] {nemo} well...the zzzzzzzzzzzzz's are
[14:12] {Threei} Long Setup:  TZA  39 break
[14:15] {Threei}  target .30 or so
[14:16] {Threei}  with usual partials
[14:16] {Threei}  may reevaluate for higher target for the last portion but we will see as we get there
[14:17] {nemo} .87 spy support
[14:19] {Threei}  oh well
[14:24] {samire} no go
[14:24] {Threei}  ?
[14:24] {samire} broke .9
[14:24] {Threei}  it hit 1:1
[14:24] {Threei}  what do we do when it happens?
[14:24] {samire} be
[14:25] {samire} it did it reach 39.10 ?????
[14:25] {Threei}  As the price moves in our favor, full exit or partial exits are taken at the levels that we call risk/reward ratios. In this case, 1:1 will be reached around $10.10 (10 cents initial risk to 10 cents profit). Scalpers take full exit at this level; day traders take first partial and trail their stop under the breakeven point. Next partial is taken around 1:2, etc. Most often our partials consist of 1/2, 1/4 and 1/4.
[14:25] {Threei}  samire... do you have charts??
[14:25] {samire} yes
[14:25] {Threei}  14:16 candle
[14:25] {Threei}  what high do you have for it?
[14:26] {samire} .1
[14:26] {samire} u are correct
[14:27] {Threei}  I don't understand...
[14:27] {Threei}  you have open position, it's moving, and you don't watch the movement?
[14:28] {samire} i agree
[14:41] {Threei}  lol, hit .31 on this spike
[14:50] {ese} i'm outta here kids last day at school and there out at noon.......see ya'll in september
[14:51] {Threei}  take care ese
[14:51] {ese} had ya goin there didn't I.........cya monday
[14:51] {ese} cya vad
[14:51] {nemo} no
[14:51] {dino} cya ese
[14:51] {ese} lol
[14:59] {Threei}  feels like selloff toard the end of day
[15:02] {RonS} U.S. commodity regulators are examining whether word of a decision to coordinate a release of global oil stockpiles was leaked ahead of Thursday’s announcement by the International Energy Agency, according to a person familiar with the matter.Officials with the Commodity Futures Trading Commission as well as market participants have pointed to unusual trading
[15:03] {RonS} in the oil-futures market before the IEA’s announcement that it would release 60 million barrels of oil, the person said.
[15:09] {dino}  ctrp stop +.04
[15:16] {dino}  ctrp l .28
[15:18] {nemo} choppy choppy choppy
[15:24] {Threei}  breakdown comes
[15:24] {RonS} es at greek blastoff point
[15:26] {Threei}  yes, and break of it is a break of the backs of last optimists standing
[15:26] {RonS} like the saying goes:  ''Beware of Greek rallies..."
[15:26] {Threei}  lol
[15:26] {Threei}  that rally was a big wooden horse
[15:26] {nemo} with splinters
[15:27] {Threei}  no... wth warriors inside
[15:27] {nemo} bunch of greek butt....    never mind
[15:30] {Threei}  OK guys, I feel I must give my brain a rest
[15:31] {Threei}  even though it sdoesn't really participate in trading, but finding the letters on a keyboard requires certain effort
[15:31] {Threei}  IMO, market is going to sel.l more into close
[15:31] {Threei}  if you feel like pushing more, try for that
[15:31] {Threei}  Have a great weekend, I'll see you all on Monday
[15:32] {dino}  cya vad
[15:33] {nemo} remember that quote as it launches upward
[15:33] {dino} lol
[15:37] {dino} ctrp to .30
[15:40] {dino} out ctrp .39, +.11
[15:40] {dino} damn
[15:41] {dino} too tight
[15:44] {dino} calling it a wee, thx all, good time, decent week
[15:44] {dino} lol, week