Tuesday, July 19, 2011

Jul 19 2011

Clone of yesterday - profitable morning, boring afternoon.

Session Time: Tue Jul 19 00:00:01 2011
[08:34] {Threei}  oh boy... why did you wake me up
[08:35] {nemo} To tell you to go back to sleep
[08:35] {Threei}  great
[09:02] {Threei}  (GR) French Bank Group official: IIF has the means to extend Greek debt
[09:02] {Threei}  lol
[09:03] {Threei}  dino, nemo told me to tell you to go home
[09:03] {ese} morning....back from long weekend
[09:03] {Threei}  actually he screamed at me
[09:03] {Threei}  ese :)
[09:05] {dino} gm, most likely right
[09:05] {nemo} you let him come all the way to work without telling him?
[09:05] {nemo} He could have sat home and drank all day
[09:08] {Threei}  and what fun would there be in that for us?
[09:08] {Threei}  you don't let a patient sleep - you wake him up to tell him that he forgot to take his sleep aid pills
[09:15] {dino} lol nemo, i just go down stairs to basement, the commute is great
[09:15] {dino} plus i can shoot pool if nothing going on
[09:16] {ese} ya my commute the same
[09:16] {Threei}  you just spoiled his entire day dino
[09:16] {dino} and i never mentioned the six seat wet bar
[09:17] {dino} ron, hog
[09:17] {dino} idcc
[09:17] {ese} now thats the ticket
[09:17] {Threei}  and my commute beats both of you - I remain at the same level, no steps to navigate {G}
[09:17] {ese} I can attest to that commute
[09:24] {patience} good morning
[09:24] {_bobbyo} gm
[09:24] {Threei}  patience, bobbyo :)
[09:26] {Threei}  SLW is interestingly weak
[09:27] {Threei}  overall, going to be on a cautious side this morning, big gap up days are rarely good performers for us
[09:31] {Threei} Short Setup: SLW  .70 break
[09:32] {Threei}  stop above .80
[09:32] {Threei}  1:1
[09:32] {Threei}  1:2
[09:33] {Threei}  out in full
[09:33] {jfjf64} mornin
[09:33] {Threei}  jf :)
[09:35] {Threei} Long Setup:  FCX  .80 break
[09:35] {nemo} too fast
[09:35] {Threei}  1:1...
[09:35] {Threei}  yeah
[09:35] {jfjf64} think
[09:35] {Threei}  second chance is coming
[09:35] {Threei}  in
[09:36] {samire} great    thanx
[09:36] {Threei}  stop under .75
[09:36] {Threei}  missed first SLW short samire...
[09:38] {nemo} fcx could be short if it drops support
[09:39] {Threei}  FCX target 56.10 or so
[09:39] {Threei}  1:1 again
[09:39] {Threei}  actually with new stop even more, but let's not be so formal
[09:39] {jfjf64} lets not
[09:39] {Threei}  lol
[09:39] {jfjf64} didnt tk it
[09:39] {nemo} makes me think of vad in a tux
[09:40] {jfjf64} lol
[09:40] {Threei}  I don't know why you wouldn't jf... clean trade
[09:40] {Threei}  and if takes .90, will be very nice one
[09:41] {Threei} Long Setup:  SLW  .20 break
[09:41] {Threei}  if holding .10
[09:41] {Threei}  if loses it, becomes long with .10 recross
[09:41] {Threei}  if holding 39
[09:42] {Threei}  balance stop to .79 FCX
[09:43] {nemo} lvs
[09:44] {Threei}  no go SLW
[09:45] {Threei}  (IR) Ireland PM Kenny: European debt problems are systemic
[09:45] {Threei}  you don't say
[09:46] {Threei} Short Setup: RIMM  .60 break
[09:46] {Threei}  stop is above .70 of course
[09:46] {nemo} slw again
[09:46] {Threei}  1:1
[09:46] {nemo} there was huge seller at .00
[09:48] {Threei}  IR) Ireland PM Kenny: Anglo Irish is now a dead bank- Reminder: Anglo Irish was nationalized in 2009
[09:48] {nemo} 1/2 .10
[09:48] {Threei}  Victoria woman takes on a challenge to hug a stranger per day for a year.
[09:49] {nemo} send her to the Bronx
[09:50] {RonS} ...does that mean she will only hug fat people/
[09:50] {RonS} ?
[09:51] {nemo} mmhhh..want to buy more if moves strongly above .25
[09:51] {Threei} Long Setup:  SLV  .10 break
[09:51] {RonS} sorry i thought it read "huge challenge"...
[09:51] {RonS} i think i need glasses...
[09:53] {Threei}  stop is obvious, target is 1:2, 2 partials
[09:55] {nemo} LVS
[09:55] {Threei}  let's trail SLV to .04
[09:56] {Threei}  this long tail gives us a good reason to do so, tightening erisk
[09:59] {Threei} Long Setup:  LVS  .60 break
[10:00] {nemo} oh well
[10:00] {Threei}  yeah
[10:00] {Threei}  lol
[10:00] {Threei}  1;1
[10:00] {nemo} .51 was pivot
[10:00] {Threei}  SLV 1:1
[10:00] {Threei}  out
[10:00] {nemo} HOG
[10:01] {Threei}  ummm... come on nemo... no need to use insults
[10:01] {nemo} they're in conference call
[10:01] {nemo} tuxedo man
[10:01] {Threei}  with PIG?
[10:02] {Threei}  LVS 1:2... grr
[10:02] {Threei}  I mean 1:3
[10:04] {dino} athn spike
[10:04] {samire} gj today
[10:05] {Threei}  for a gap up day, not bad...
[10:05] {dino} unh drop
[10:07] {jfjf64} wynn
[10:09] {dino} unh sm l .02
[10:10] {Threei}  SLV 1:2, target hit
[10:12] {Threei}  anyone took it??
[10:12] {dino} unh to .35
[10:13] {samire} great call dino......i took it
[10:13] {dino} to .47
[10:13] {samire} .05
[10:14] {ese} unh is a nice one dino
[10:14] {dino} to .65
[10:15] {dino} out .65, +.63 ty ese
[10:15] {nemo} .75 is vwap
[10:15] {dino} to tight
[10:18] {dino} gj sami
[10:19] {nemo} LVS
[10:22] {jfjf64} wfc
[10:22] {jfjf64} runnin
[10:22] {samire} dino ...what did u mean 50 65
[10:23] {samire} to 65
[10:25] {dino} stop to .65
[10:26] {dino} was trailing it
[10:27] {samire} i c
[10:30] {dino} icui
[10:31] {dino} sm l .05 gappy
[10:33] {dino} redf drop
[10:35] {dino} gap 12.57
[10:36] {nemo} stt
[10:39] {dino} avy lod
[10:40] {dino} unh drop
[10:41] {nemo} wbmd dino
[10:42] {ese} patience...dcc when you got a couple of minutes
[10:42] {dino} watching
[10:43] {nemo} at vwap
[10:44] {ese} any of you trade forex at all.......
[10:44] {dino} not i
[10:44] {Threei}  that's a bag of worms
[10:44] {ese} how so vad?
[10:45] {ese} have never really looked into it
[10:45] {Threei}  I have, many times over last few years,
[10:45] {Threei}  every time returned with the same impression
[10:45] {Threei}  can't believe it's legal
[10:45] {ese} lol
[10:46] {Threei}  bucket shops in equity market were banned during Livermore times
[10:46] {Threei}  somehow it's still OK in Forex
[10:46] {Threei}  how do you think they give you commission-free tradiong?
[10:47] {ese} was thinking yesterday that because it trades 24hrs ...could get some trading done on days when i can't be with you all on the board.....like yesterday....got home at 5 ish
[10:48] {Threei}  realize that in Forex you don't deal with marketplace
[10:48] {Threei}  you deal with your own broker
[10:48] {dino} inventory
[10:48] {Threei}  who gives you commission-free executions by giving you prices infewrior to market prices
[10:48] {Threei}  then turning around and covering his position in marketplace
[10:49] {Threei}  example to make it clear:
[10:49] {Threei}  in stock market, stock trades 10 x 10.05. you can buy at the offer and sell at the biod, and maybe get price improvement
[10:50] {Threei}  in Forex, pair trades at 10 x 10.05, you can buy at 10.10 or sell at 9.90
[10:50] {Threei}  you buy from your broker and sell to him,
[10:50] {Threei}  you bought at 10.10 from him - he is short now at that p[rice,
[10:50] {Threei}  he turns around and covers at 10.05 in the amrket
[10:51] {Threei}  you got your "comission-free" tarde,
[10:51] {Threei}  he got his riskless money
[10:51] {Threei}  now imagine how much market needs to move to make you profitabl
[10:51] {Threei}  don't forget that the same thing will happen when you sell
[10:51] {ese} hmmmmmmm not sure i like that
[10:52] {Threei}  how else would they stay in business with no commissions, and why would they even do that, out of goodness of their heart?
[10:55] {samire} testing internet
[10:55] {Threei}  forex: http://www.realitytrader.com/vad/canoworms.jpg
[10:56] {Threei}  (US) Senator Kyl (R-AZ): Expects the Senate will approve the McConnell debt ceiling plan; could not say whether the House would approve the plan
[10:56] {_bobbyo} vad is there a decent market to trade after hours?
[10:57] {_bobbyo} I mean 3I sorry
[10:58] {dino} normal markets imo
[10:58] {Threei}  not unless you are willing to tarde foreign markets
[10:59] {Threei}  and they are whole different animal, vs US-based ones
[10:59] {larisa} tarde fernch mraket? :)
[10:59] {Threei}  sigh
[10:59] {Threei}  lol
[11:00] {Threei}  not that I looked into that extensively though - market hours are quite enough for me, why rob yourself of the rest of life :)
[11:00] {nemo} Ghana
[11:01] {Threei}  oh, and one more fun fact
[11:01] {Threei}  every time I pst something like this about Forex, I get hate mail from Forex brokers
[11:05] {_bobbyo} fcx  db?
[11:06] {Threei}  looks more like breakdown to me
[11:06] {Threei}  but market activity is not warranting either right now
[11:07] {_bobbyo} not much mo either direction
[11:07] {Threei}  yeah, meaningless wandering
[11:08] {Threei}  kind of what we do with nemo after eliminating third bottle of vodka but before we get food poisoning by oatmeal cookie
[11:14] {_bobbyo} s wbmd
[11:15] {dino}  mvo gap fill
[11:16] {RonS} ua pop
[11:17] {Threei} Short Setup: X  .50 break
[11:17] {Threei}  just a scalp most likely, maybe even before reaches 1;1
[11:17] {RonS} wow, cannot short ua...
[11:18] {dino} spiking on nfl news imo
[11:18] {RonS} deal done/
[11:18] {RonS} ?
[11:19] {dino} alomost
[11:19] {dino} almost
[11:19] {RonS} ko
[11:19] {RonS} ok
[11:19] {dino} lol
[11:21] {Threei}  hmmm... I tried to respond in kind by typing LOL in opposite direction, and failed...
[11:21] {Threei}  darn word won't type backwards :(
[11:26] {samire} green day so far
[11:27] {dino} www sm l .75
[11:34] {samire} good job today dino
[11:35] {dino} ty
[11:35] {samire} watch COP
[11:36] {RonS} on tv?...sorry, i guess that is cops...
[11:36] {Threei}  feel free to cover X here
[11:37] {Threei}  (GR) IMF: EFSF needs to be scaled up and made more flexible, needs to be allowed to buy debt in the secondary market
[11:37] {Threei}  - Euro zone needs better economic governance, member states need to give up more sovereignty
[11:37] {Threei}  - IMF forecasts 2011 euro area GDP growth +2%, 2012 +1.7%
[11:37] {Threei}  member states need to give up more sovereignty
[11:38] {Threei}  as old russian saying goes, "put a finger in his mought, he will bite the arm to elbow"
[11:38] {Threei}  mouth
[11:39] {RonS} ...that is one high quality saying.
[11:40] {Threei}  wow X
[11:40] {Threei}  coming into 1:2
[11:40] {Threei}  but whatever, no one takes my trades anyway today
[11:40] {Threei}  I am going home
[11:48] {larisa} left or still here ?
[11:48] {Threei}  left of course
[11:48] {dino} right
[11:48] {larisa} come back, so can ignore you some more :)
[11:49] {larisa} could.. damn grammar
[11:49] {Threei}  as if I don't take enough abuse
[11:52] {samire} u do not deserve abuse
[11:55] {samire} any opinion on COP  ?
[11:57] {samire} is  Vad snoring again
[11:57] {Threei}  again? have I ever stopped?
[11:57] {samire} day time
[12:09] {Threei}  samire, look pm please
[12:10] {_bobbyo} stop wbmd
[12:30] {Threei}  http://edition.cnn.com/2011/WORLD/europe/07/19/russia.putin.support.video/
[12:31] {dino} another zzzzzzzzzzzzzzzz afternoon
[12:46] {dino} gsvc drop
[12:47] {RonS} gsvc...stock has been pimped on other sites citing facebook position...careful here
[12:51] {dino} ty
[12:52] {Threei}  (US) Moody's places Aaa ratings of Maryland, NewMexico, South Carolina, Tennessee, Virginia on review for downgrade
[12:52] {Threei}  - Should the U.S. government's rating be downgraded to Aa1 or lower, these five states' ratings would likely be downgraded as well. Moody's will review the ratings of the five states on a case-by-case basis and announce any rating actions within seven to ten days following a sovereign action
[12:53] {RonS} rating agencies = buzz kill
[12:59] {ese} lol
[13:02] {dino} mvo
[13:02] {dino} lod
[13:18] {dino}  gpro drop
[13:20] {patience} .
[13:21] {_bobbyo} too much coffee to sleep suggestions?
[13:25] {dino} gpro smr l .75
[13:28] {RonS} dino, gsvc dropped on announcement of new $100 mil share offering
[13:31] {dino} saw that
[13:31] {Threei}  hmm... brand switch, bobbyo?
[13:32] {dino} out gpro .25, +.50
[13:33] {RonS} gj
[13:33] {dino} damn missed mvo
[13:34] {dino} www to flat
[13:35] {dino} brb
[13:38] {_bobbyo} folgers?
[13:39] {Threei}  should do... especially if add some whiskey...
[13:43] {_bobbyo} market moving, news?
[13:44] {dino} out www .05 +.30
[13:45] {Threei}  president speech, bobbyo
[13:45] {Threei}  (US) US President Obama: Progress has been made; Republican's 'cut cap and balance' plan will not make it through the Senate or through the President veto; Gang of Six deal is broadly in line with presidential proposals earlier suggested
[13:45] {Threei}  - Encouraged by the Gang of Six proposals, and feels the plan is broadly consistent with the White House's stance.
[13:45] {Threei}  - Hopeful that House Democrats and House Republicans can tommorow 'talk turkey' on the deal.
[13:45] {Threei}  - Notes the Mcconnell plan achieves a bare minimum and remains a necessary backup plan.
[13:45] {Threei}  - Comments that there is no more time for posturing or symbolic gestures.
[13:46] {_bobbyo} strang reason to buy stock
[13:47] {Threei}  well... less fear, more buying
[13:48] {dino} or buy the rumor, sell the news
[13:58] {_bobbyo} slw does not like Obama.
[14:02] {dino} stop icui /68, -.37
[14:03] {dino} gotta hop, take care all
[14:03] {Threei}  hmmm
[14:03] {Threei}  why oh why would you leave us alone
[14:03] {Threei}  look dino:
[14:03] {Threei}  (IT) Italy PM Berlusconi now under official investigation over allegations there he placed pressure on state television to shut down a news show - world press
[14:03] {Threei}  and you leave at such uncertain and worrisome times?
[14:21] {Threei}  http://photography.realitytrader.com/2011/07/fog-in-sidney.html
[14:21] {nemo} tck
[14:22] {_bobbyo} nice pics
[14:22] {Threei}  ty
[14:26] {nemo} GDX might be ready to move
[14:27] {Threei}  you think/
[14:27] {Threei}  gold and silver dropped on this debt ceiling thing
[14:32] {_bobbyo} gdx move up or down?
[14:33] {nemo} chart formation looks long
[14:33] {nemo} tck has moved long
[14:33] {Threei}  I am not delighted...
[14:34] {_bobbyo} 3i news related moves and setups is there a policy?
[14:35] {nemo} each one is unique
[14:35] {Threei}  case by case, yeah
[14:36] {nemo} ie: we nuke China with no retaliation, short oil
[14:37] {Threei}  but if China nukes SA, long oil
[14:37] {nemo} yeah
[14:37] {nemo} and bananas
[14:37] {_bobbyo} good one,
[14:37] {Threei}  nemo's bananas
[14:39] {nemo} MOS GDX
[14:39] {_bobbyo} good one's; today if slw puts in db at 38.20 is it a set up. or is volume gone.
[14:40] {larisa} actually it made this setup at 14:05
[14:43] {larisa} no enthusiasm bounce too, kinda like vad in the afternoon :)
[14:45] {_bobbyo} did you take that trade larisa
[14:46] {Threei}  I have plenty of enthusiasm larisa... I just hide it very well
[14:46] {larisa} nope, but was watching it at the time.
[14:47] {Threei}  GDX worked
[14:53] {nemo} duh... so didn't tck
[14:53] {nemo} look at POT
[14:56] {_bobbyo} looking at it is cool but I prefer to smoke it. I know old joke
[15:04] {Threei}  so far, the whole charade feels like slow climb into announcement of deal being made, and a drop after that
[15:05] {nemo} nah...earnings will be good this quarter
[15:06] {RonS} "...but we will always have Greece..."
[15:06] {Threei}  Generic Republican Candidate 47%, Obama 41%
[15:06] {Threei}  how Republican s wisg tghey could run "generic candidate"...
[15:06] {RonS} Generic for Prez!...
[15:06] {Threei}  wish
[15:07] {RonS} ...must be Greek...
[15:07] {nemo} pot went while I wasn't looking
[15:09] {Threei}  Austria (AP)  The city of Klagenfurt has jstripped Adolf Hitler of honorary citizenship
[15:09] {Threei}  about time, eh?
[15:09] {RonS} ...guess it's the home of Rip van Winkle...
[15:09] {Threei}  AAPL
[15:10] {Threei}  AAPL Some board members said to be evaluating succession plans for CEO Jobs - financial press
[15:10] {RonS} shocking...the guy's only been sick for what?...three years?
[15:11] {Threei}  and vultures are circling
[15:26] {Threei} Long Setup:  TZA  .25 break
[15:27] {Threei}  if stays above .15 for scalpers, .10 for day traders
[15:28] {Threei}  (EU) France Pres Sarkozy to meet with German Chancellor Merkel on Wednesday ahead of the EU summit
[15:28] {Threei}  apparently Berlusconi troubles didn't teach him anything
06[15:34] * Threei hits the SPY over the head with 2x4
[15:39] {Threei}  AAPL earnings afer close
[15:51] {_bobbyo} where is the profit taking?
[15:52] {Threei}  none of that seems to be around
[15:52] {nemo} end of week
[15:52] {Threei}  time's running out, feel free to scratch TZA
[15:54] {nemo} spy likely to run here to R3
[15:55] {_bobbyo} greedy people. ty
[15:55] {Threei}  out TZA +3, yes, you rfead that right, whole three cents
[15:56] {nemo} covered transaction costs
[15:56] {Threei}  I should be careful not to spend it all at once
[15:56] {Threei}  lest I cause inflation
[15:56] {Threei}  thank you all, have a great evening
[15:56] {Threei}  see you tomorrow
[15:57] {larisa} bye :)