Wednesday, July 27, 2011

Jul 27 2011

Things are breaking down and heating up. I wish trading was a tad faster, would be easier to find setups. Still, action may be returning for a while.

[08:59] {Threei}  lol Leno
[08:59] {Threei}  "if they want to impeach Obama for country's default, he can stop it with just three words: President Joe Biden"
[09:03] {ese} gm
[09:03] {Threei}  ese :)
[09:04] {RonS} howdy everyone
[09:04] {Threei}  ron :)
[09:05] {Threei}  oh boy... 17, yes, you heard that right - seventeen! people "Like" my webpage!
[09:06] {Threei}  I tink it's abut twice the number of people that like me in real life
[09:07] {RonS} lol
[09:08] {Threei}  and half of those are family, who have to like me
[09:09] {RonS} ...sounds creepy...mind if my wife "follows" you?
[09:10] {Threei}  of course not
[09:10] {Threei}  it's just that the only active element at this point is photography part, on a personal wall
[09:10] {Threei}
[09:11] {Threei}  business one jus got posted yesterday, and I've no clear idea yet what I am going to do qwith it
[09:11] {Threei}  feeling my path as I go along
[09:11] {Threei}  whole thing is weird to me...
[09:11] {Threei}  I am used to more structured environments... this social media thing is fuzzy and fluid
[09:14] {Threei}  no logical tree-like structure, connections between parts are sghaky
[09:26] {Threei}  every time I turn CNBC on, I immediately reminded why I didn't do it for a long time... JC's face comes right up
[09:26] {larisa} gm :)
[09:27] {Threei}  larisa :)
[09:27] {larisa} vad :)
[09:28] {Threei}  watching RIMM for short
[09:29] {Threei}  .90 break
[09:29] {Threei}  opening volatility is of concern of course
[09:29] {Threei}  maybe half klot
[09:30] {nemo} LVS if gets to 48
[09:31] {Threei}  RIMM, target is 1:2 if you went for it
[09:32] {Threei}  1:1
[09:34] {Threei}  sto to .85
[09:36] {Threei}  out
[09:37] {Threei} Long Setup:  SLW  40 break
[09:37] {Threei}  .85 stop
[09:37] {nemo} LVS
[09:40] {Threei}  no go SLW
[09:40] {Threei}  looking for entry under .60
[09:42] {nemo} LVS
[09:44] {Threei}  wow RIMM
[09:45] {Threei}  too bad it rinsed second half
[09:52] {Threei} Long Setup:  SLW  .50 break
[09:52] {Threei}  if holding .40
[09:52] {Threei}  invalidated
[09:54] {Threei} Long Setup:  SLW  .30 break
[09:55] {Threei}  stop for scalpers .24
[09:55] {Threei}  day traders .19
[09:56] {Threei}  takes too long
[09:56] {Threei}  let's trail to .24 for everyone
[09:57] {Threei}  RIMM... why did we ever trail that stop
[09:58] {Threei}  half out .37
[09:59] {Threei}  stop to .29
[10:01] {Threei}  out second half
[10:01] {Threei}  RIMM a dolar down since entry.... grrr
[10:07] {Threei}  nonews
[10:10] {Threei}  I feel like a crazy person on the street talking to himself
[10:10] {Threei}  anyone alive out there??
[10:11] {Threei}  am I connected to the room?
06[10:11] * pragmatic in RIMM @ .10
[10:11] {Threei}  do I have interenet?
[10:11] {Threei}  do I have a computer?
[10:11] {larisa} anyone, yes, alive.. not sure :)
[10:11] {RonS} yep...l dwa .33
[10:11] {nemo} tighten the string on the tin can
[10:11] {Threei}  wow... there is life on this planet
[10:13] {RonS} out dwa .54  +.21
[10:15] {Threei}  nice trades guys
[10:15] {Threei}  DWA and RIMM
06[10:16] * pragmatic RIMM out. Could probably go higher
[10:17] {Threei}  could... but easy part is done
[10:17] {Threei}  market is very shaky, and SPY is hitting upper BB
[10:17] {Threei}  so's RIMM
[10:18] {Threei}  I'd exit it here too
[10:18] {nemo} SPY bounced off of major support
[10:18] {RonS} thanks for reminding me about used to them there it's like i never see them
[10:19] {Threei}  lol, happens to me a lot
06[10:20] * pragmatic X & LVS are not shortable for me today :(
[10:29] {Threei}  interesting dichotomy
[10:29] {Threei}  GLD up, SLW down
[10:30] {Threei}  *DOE CRUDE: +2.3M V -1ME; GASOLINE: +1.0M V +500KE; DISTILLATE: +3.4M V +1.5ME;
[10:30] {Threei}  USO fell of a cliff
[10:34] {RonS} fti sm l .02
[10:40] {Threei} Short Setup: RIMM  26 break
[10:42] {RonS} fti stopped for scratch
[10:43] {pragmatic} big order at 26. Someone does not want RIMM to lose 26 today :(
[10:43] {Threei}  well, view those big orders keeping the level as a dam
[10:43] {Threei}  once broken...
[10:45] {pragmatic} SLV tanked
[10:51] {Threei}  needless to say RIMM is invalidated
[10:51] {Threei}  but I'll say it anyway
[10:53] {Threei}  (US) CNBC notes that Speaker Boehner "walks past the mic" after being expected to give a press briefing- Also notes that White House Budget Director Lew canceled an appearance on CNBC earlier today.
[10:54] {Threei}  I get the feeling these folks started realizing that time for circus has passed, and there are real and very serious consequences to this debacle
[11:01] {RonS} 3i...look fti level 2...why all the jumpiness w/ little executed trades?
[11:01] {Threei}  HFT games
[11:02] {Threei}  I should say, HFT-like
[11:02] {Threei}  HFT itself is not very interested in thinnies like this
[11:02] {Threei}  but these bid/ask jumps are very typical for what algos do
[11:07] {RonS} dnkn
[11:08] {RonS} crazy
[11:08] {ese} .
[11:09] {Threei}  Dunkin' Donuts coffee and Baskin-Robbins ice cream chains
[11:09] {Threei}  Have Market Intel? Tip Line -} Click Here
[11:09] {Threei}  well... shows where the priorities are
[11:11] {RonS} quote of the day:  Hearing that for every 10 times you lose trading $DNKN donuts at etrade, the baby delivers a dozen donutes and a coffee to your desk
[11:11] {RonS} maybe not:  based on my sum of parts analysis, $DNKN donut holes are being valued at $10 / share...
[11:12] {ese} lol
[11:13] {Threei}  lol
[11:15] {Threei}  feels like 27 b reak
[11:15] {Threei}  DNKN
[11:15] {Threei}  small shares if want to try
[11:16] {Threei}  volasitlity can be am,iller on this one
[11:16] {Threei}  a killer
[11:16] {Threei}  aggressive entry would be .80 break
[11:17] {ese} Keg L .79
[11:18] {Threei}  .60 break now
[11:18] {Threei}  with .45 stop
[11:18] {Threei}  in
[11:18] {Threei}  small
[11:19] {ese} stop .71
[11:19] {Threei}  lol
[11:28] {Threei}  (US) Senate Majority leader Reid (D-NV) plans conference at 11:45ET- Note: Earlier Boehner was expected to address the press this morning but ultimately walked past the mic
[11:32] {RonS} skx sm l .62
[11:38] {ese} out keg 1/2 .90 +.11
[11:39] {RonS} gj
[11:39] {ese} stop to break even balance
[11:41] {RonS} stopped skx -.10
[11:50] {nemo} Warren Buffett, in a recent interview with CNBC, offers one of the best quotes I've heard in all this drama about the debt ceiling:"I could end the deficit in 5 minutes," he told CNBC. "You just pass a law that says that anytime there is a deficit of more than 3% of GDP, all sitting members of Congress are ineligible for re-election."
[11:50] {Threei}  idiot
[11:51] {nemo} actually, I like it
[11:51] {nemo} they can't control themselves down there
[11:51] {Threei}  cute... but meaningless
[11:51] {Threei}  sure but
[11:51] {nemo} true...they never cut anything especially their salaries and benefits
[11:52] {Threei}  this prblem is long standing and amounted to huge proportions
[11:52] {Threei}  it can't be solved in one quick move
[11:52] {Threei}  Reid on TV
[11:52] {Threei}  ok... usual partisan bs
[11:52] {Threei}  "other guy is to blame"
[11:53] {ese} balance keg stopped even
[11:53] {ese} +.00
[11:55] {RonS} lol...kkd down today...guess there is only so much doughnut money...
[11:55] {Threei}  lol
[12:00] {Threei}  rofl
[12:00] {Threei}  A: "I just read 'War and Peace' in two hours!"
[12:00] {Threei}  B: "Really? What was it about?"
[12:00] {Threei}  A: "I dunno. Some Russians."
[12:01] {RonS} hehe...soviet joke?
[12:01] {Threei}  no
[12:01] {RonS} :D
[12:01] {Threei}  woody allen
[12:10] {RonS} mtw l .67
[12:21] {Threei}  (US) Republican aide notes that the party is attempting to increase deficit reduction measures; may not bring down debt ceiling increase - financial press
[12:25] {RonS} mtw stop to .75
[12:29] {Threei}  hmmm... there is still room to donwgrade it?
[12:29] {Threei}  I thought it was below the baseboard already
[12:29] {RonS} FFF?
[12:29] {Threei}  lol
[12:33] {RonS} out mtw .81  +.14
[12:35] {Threei}  cool
[12:38] {RonS} uh oh...'nother quote...on greece rating
[12:38] {RonS} i am waiting for a double d rating then i will buy w/ both hands
[12:41] {Threei}  hey
[12:42] {Threei}  I made the short list:
[12:42] {Threei}
[12:44] {RonS} nice
[13:01] {Threei}  I get this feeling that selling is not done for today
[13:16] {Threei} Long Setup:  TZA  .50 break
[13:22] {Threei}  1:1, half out
[13:29] {nemo} V short?
[13:30] {Threei}  I think so
[13:30] {Threei}  88 break
[13:31] {nemo} what I was thinking
[13:44] {nemo} spy bounced at 50ma on daily, doesn't want to give that up
[13:55] {nemo} lvs 48
[13:55] {nemo} !!
[13:55] {nemo} LVS
[14:38] {Threei}  (US) White House Press Sec Carney: Compromise on debt limit talks still possible; Savings from reduced war spending projections are legitimate
[14:55] {Threei}  ad we did not reenter TZA why?
[15:10] {ese} just can't judge this constant casual drift down.....driving me nuts
[15:11] {Threei}  new breakdown is coming
[15:11] {nemo} .60 is support on spy
[15:12] {RonS} ...did old one end?
[15:13] {Threei}  lol
[15:23] {Threei}  quite a selloff today
[15:45] {nemo} so tomorrow either gap up and short resistance, or....
[15:46] {Threei}  well, news can come any moment, one way or another... and change everything
[15:47] {Threei}  (US) White House Adviser Jarrett: There is no plan B on budget; Congress must compromise now
[15:57] {Threei}  (US) Press reports indicate possible hostage situation in mid-town Manhattan
[15:59] {Threei}  thngs become interesting... I wish they would happen faster so they would be easier to read
[15:59] {Threei}  but still
[15:59] {Threei}  better than total stall
[15:59] {Threei}  OK, thank you guys
[15:59] {Threei}  have a good evening, see you tomorrow