Thursday, July 14, 2011

July 14 2011

Very nice morning with a few wins, coming easy as we determined the market direction just right. Got a nice Catch of the Day play sensing coming panic:

Session Time: Thu Jul 14 00:00:00 2011
[09:08] {samire} gm
[09:08] {Threei} morning samire
[09:12] {larisa} gm :)
[09:12] {Threei} larisa :)
[09:12] {larisa} vad :)
[09:13] {dino} gm all
[09:13] {Threei} dino :)
[09:13] {RonS} gm tide
[09:14] {RonS} dino always salutes his detergetn, thought i would do mine...
[09:15] {RonS} detergent
[09:15] {Threei} ron :)
[09:15] {dino} lol
[09:16] {dino} never thought of that
[09:16] {RonS} not easy being twisted here...
[09:17] {dino} ahh, but it works for you
[09:23] {jfjf64} mornin all
[09:23] {Threei} jf :)
[09:23] {RonS} i y'am what i y'am...popeye...
[09:24] {RonS} kinda surprised we are up considering what happened in the ah...
[09:24] {Threei} makes you think selling should hit
[09:25] {Threei} wow, people are slow to wake uop today
[09:25] {jfjf64} cramer in mornin
[09:26] {jfjf64} grrr
[09:26] {Threei} don't jf.... bacon in the morning is much much better for you
[09:26] {jfjf64} lol
[09:26] {jfjf64} you back on bacon
[09:26] {jfjf64} or being healthy
[09:27] {Threei} sorry, I can't see how it is a contradiction
[09:27] {jfjf64} lol
[09:27] {RonS} $3/lb for bacon here...sheesh
[09:27] {Threei} since when bacon is unhealthy'
[09:27] {dino} i will gladly pay you on tuesday ffor a hamburger today
[09:27] {jfjf64} somethin bout olive oil
[09:28] {jfjf64} she used to get me going
[09:28] {RonS} can't seem to remeber the name of that guy dino...
[09:28] {RonS} rmember
[09:28] {RonS} sheesh...remember
[09:28] {ese} gm
[09:28] {Threei} ese :)
[09:29] {Threei} gioing to skip first minutes, to get the mood:
[09:29] {Threei} gap up is used to dump into,
[09:29] {Threei} or
[09:29] {Threei} yeaterday's fears are dismissed and we resume slow climb
[09:29] {jfjf64} do whatever ya got to do 3i
[09:29] {Threei} oh, I chose sleep then jf
[09:29] {Threei} thank you
[09:29] {jfjf64} ac/ dc here
[09:30] {ese} out SVM .65 +.40
[09:30] {Threei} nice hold ese
[09:30] {ese} Out HL .53 +.13
[09:30] {ese} tks
[09:31] {Threei} SLW jumps up and down
[09:31] {Threei} let's see where it settles
[09:31] {Threei} Short Setup: SLW .10 break
[09:31] {dino} mrx sm l .49
[09:32] {Threei} stop above .20 scalpers, .25 day traders
[09:33] {Threei} 1:1 scalpers
[09:33] {Threei} 1:1 day traders
[09:33] {Threei} 1:2
[09:34] {Threei} me out
[09:34] {Threei} a but too vertical
[09:34] {jfjf64} ty
[09:34] {Threei} yw
[09:34] {Threei} Long Setup: RIMM .25 break half lot
[09:35] {Threei} if stays above .15
[09:35] {ese} L uxg .95
[09:35] {nemo} huh?
[09:35] {larisa} I have it under .10
[09:35] {Threei} ugh
[09:35] {Threei} sorry, wrong ticker
[09:35] {Threei} never mind
[09:35] {Threei} too many stocks
[09:35] {ese} sm
[09:35] {Threei} one that I had in mind is invalidated anyway
[09:36] {Threei} no harm
[09:36] {Threei} SLW had more in it eh
[09:36] {_carson} out rest SLW
[09:36] {_carson} {3
[09:37] {Threei} Long Setup: FCX .15 break
[09:37] {Threei} if stasy above .05
[09:38] {Threei} target about .35, two partials
[09:39] {dino} jazz spike
[09:40] {Threei} 1:1
[09:40] {Threei} half out
[09:40] {Threei} and let's trail to .09
[09:40] {Threei} don't like this jumpiness
[09:41] {Threei} SLW was better candidate for bounce
[09:41] {Threei} FCX works too but that one had better swing
[09:41] {Threei} stop to .14
[09:42] {Threei} let's secure profit as much as we can here
[09:42] {_carson} should i go sleep now ?
[09:42] {Threei} you out FCX in full yet?
[09:42] {Threei} target hit
[09:42] {Threei} out
[09:42] {Threei} go sleep carson
[09:43] {samire} good job Vad
[09:43] {_carson} i actually could..that FCX was jumpy but finally worked
[09:43] {Threei} ty samire
[09:43] {Threei} with afternoons being mostly dead, gotta get all we can early
[09:43] {_carson} +.60ish on the day alredy
[09:43] {samire} yes
[09:44] {samire} yes on mornings
[09:44] {dino} gj carson
[09:44] {Threei} you got your yesterday's stops back carson
[09:44] {_carson} yeaapp
[09:44] {Threei} be smart now, don't waste it away
[09:44] {Threei} do this:
[09:44] {Threei} determine how much you take home today no matter what
[09:45] {Threei} and put kind of trailing stop on your account
[09:45] {Threei} ie:
[09:45] {Threei} if you are up 500, decide that 400 is your minimum for today,
[09:45] {Threei} so, if you lose 100, you stop trading
[09:45] {_carson} ohhok
[09:45] {Threei} if make 200 more, move your stop to 550
[09:46] {_carson} ty
[09:46] {Threei} thus having 150 max to lose
[09:46] {Threei} etc
[09:46] {Threei} SLW
[09:46] {Threei} oullback to .90 - 39 zone will be inetresting for ling entry
[09:46] {dino} out mrx .99, +.50
[09:47] {_carson} wow dino!
[09:47] {Threei} let' let it lose 39, then see if we get a setup
[09:47] {Threei} wtg dino
[09:47] {dino} ty
[09:47] {samire} rimm 4 a bounce ?
[09:47] {samire} here
[09:47] {samire} out
[09:48] {Threei} need another pullback to establish a mini-tange
[09:48] {Threei} wow
[09:48] {samire} exited right time
[09:48] {Threei} (US) Senate Majority Leader Reid (D-NV): Believes that House Speaker Boehner (R-OH) is negotiating in good faith; Majority Leader Cantor (R-VA) has already shown that he shouldn't even be at the negotiating table
[09:48] {Threei} 'em are fightin' words
[09:48] {Threei} as far as I am concerned, Reid shouldn't be at that table
[09:48] {Threei} or any othe table
[09:48] {Threei} OK, SLW
[09:49] {dino} like a bunch of high school kids
[09:49] {Threei} ugh
[09:49] {Threei} got away
[09:49] {Threei} waiting
[09:50] {Threei} (US) S&P warned US lawmakers privately that it would cut the US sovereign ratings if Treasury was forced to prioritize payments - financial press
[09:50] {Threei} bunch of idiots
[09:50] {Threei} on both sides
[09:51] {Threei} Long Setup: LVS .70 break
[09:52] {Threei} if stays above .60
[09:52] {Threei} darn SLW
[09:52] {Threei} cangaroo tail
[09:53] {Threei} no go LVS
[09:53] {dino} w/a k
[09:53] {Threei} (GR) Fitch downgrades Greece banking sector following sovereign downgrade yesterday; on watch negative
[09:55] {nemo} COP
[09:55] {dino} strange market, world is falling apart and up it gies
[09:55] {dino} goes
[09:55] {nemo} just like depression
[09:57] {RonS} diff than depression since that was a deflationary environment, this one inflationary where all asset prices go up...but mkt will trail commodities
[09:57] {jfjf64} slw
[09:59] {samire} slw
[09:59] {samire} agre
[09:59] {Threei} Long Setup: SLW 39 break
[10:00] {samire} agree
[10:00] {_carson} .98
[10:00] {Threei} *(US) MAY BUSINESS INVENTORIES: 1.0% V 0.8%E
[10:01] {Threei} (US) Fed Chairman Bernanke repeats prepared testimony from yesterday
[10:01] {Threei} hmm... for those who didn't get it first time?
[10:01] {RonS} ...all of them?
[10:01] {_carson} he didnt like the market going up today
[10:02] {Threei} SLW almost touched 1:1 on first bounce
[10:02] {Threei} let's be careful and trail to .94
[10:02] {Threei} 1:1
[10:04] {Threei} Obama On Debt Deal: This May Bring Down My Presidency, But I Will Not Yield On This
[10:04] {Threei} don't yield then
[10:05] {RonS} petulant idealogue
[10:05] {_carson} cmon SLW
[10:06] {Threei} you are partialing out carson??
[10:06] {_carson} trying to atleast
[10:06] {_carson} meh
[10:06] {_carson} stop to .95
[10:06] {Threei} trying?
[10:06] {Threei} what to try... either you do or you don't
[10:06] {_carson} yeah
[10:06] {_carson} took my 1:1
[10:06] {_carson} now waiting on rest
[10:07] {Threei} "there is no trying"
[10:07] {Threei} sorry, misquote
[10:07] {Threei} "Do or Do not. There is no try."
[10:08] {_carson} scratch it
[10:08] {_carson} im all out now
[10:08] {Threei} good
[10:08] {RonS} do be do be doo...sinatra
[10:08] {_carson} haha now it will run
[10:08] {dino} mrx drop, murder at ceo house
[10:08] {_carson} :D
[10:08] {Threei} doesn't matter
[10:08] {RonS} really dino?
[10:09] {Threei} don't second guess, play by the rules
[10:09] {dino} yes
[10:09] {Threei} you don't change rules with each play
[10:09] {Threei} you just let the odds work
[10:09] {samire} rimm
[10:09] {Threei} odds say, if it hit 1:1 and tehn returned to a trailed stop level - more often than not you will lose on the balance
[10:10] {Threei} those cases when opposite happens just lure you into breaking the rules
[10:10] {Threei} only to smack you donw when you do
[10:10] {Threei} yes ron
[10:10] {Threei} premarket news
[10:12] {samire} watching rimm
[10:12] {samire} bounce
[10:15] {Threei} LVS rinse
[10:16] {Threei} dirty scoundrel
[10:16] {samire} sold rim
[10:17] {ese} L bud .75
[10:18] {ese} L uxg .85 avg .90
[10:19] {ese} out bud .89 +.14
[10:28] {samire} testing internet
[10:30] {Threei} Short Setup: RIMM .60 break
[10:32] {Threei} (US) Fed's Bernanke: Inflation higher now than it was last year, yet not ready to take action upon it - Q&A
[10:34] {Threei} invalidated
[10:35] {samire} fcx
[10:37] {Threei} wow SLW
[10:39] {samire} Ben is talking now
[10:41] {jfjf64} rimm
[10:41] {dino} bal
[10:41] {jfjf64} 3x bottom
[10:41] {jfjf64} lol
[10:42] {Threei} RIMM is valid again
[10:48] {dino} adtn sm l .20
[10:49] {Threei} no go
[10:51] {samire} slw
[10:52] {jfjf64} you in samm
[10:54] {samire} and out
[10:54] {jfjf64} good
[10:54] {samire} love to scalp
[10:54] {dino} adtn stop -.23
[10:56] {samire} watching slw for a second
[10:57] {dino} 2343, 1313 gaps below
[10:59] {jfjf64} .05 break
[10:59] {jfjf64} hold .95
[11:00] {jfjf64} comon mamma
[11:01] {jfjf64} half
[11:01] {RonS} ECONX Fed's Bernanke says further monetary easing may not be needed, may not be effective given configuration of problems we have Dollar has extended its move higher on this comment, which in turn, has pressured gold, silver and crude oil futures.
[11:02] {jfjf64} agq runnin
[11:02] {jfjf64} 1/4 more
[11:03] {jfjf64} stop.12
[11:05] {jfjf64} agq
[11:05] {jfjf64} runn
[11:05] {RonS} gj jf...nice transparency
[11:05] {jfjf64} stop .20
[11:05] {dino} a sm l .80
[11:07] {Threei} (GR) S&P analyst: Cannot see a bailout scenario for Greece that would not constitute a default
[11:07] {Threei} heh
[11:07] {Threei} didn't we determine this months ago
[11:07] {dino} indeed
[11:08] {dino} fn sm l .50
[11:09] {jfjf64} .25 stop
[11:09] {samire} out slw
[11:10] {jfjf64} why
[11:10] {jfjf64} silly
[11:10] {jfjf64} lol
[11:10] {samire} c above
[11:10] {jfjf64} house money
[11:10] {jfjf64} .30 stop
[11:11] {samire} on 1s
[11:11] {jfjf64} done
[11:11] {jfjf64} lol
[11:11] {jfjf64} ty rs
[11:14] {samire} CENX
[11:14] {samire} on 5s
[11:18] {dino} adtn sm l .00
[11:32] {samire} stopped on cenx
[11:39] {RonS} ...for the bored...something pretty cool:
[11:39] {jfjf64} slw
[11:39] {samire} look at the spy
[11:39] {dino} adtn stopped again
[11:39] {dino} 2343 filled
[11:40] {Threei} feels like panic is coming soon
[11:40] {Threei} to the theater near you
[11:40] {samire} let us short
[11:41] {RonS} ben gonna shave on camera?
[11:41] {_carson} lol vad
[11:41] {_carson} u shouldve called TZA off the bottom ;)
[11:41] {Threei} how did you know I was wtching it
[11:41] {_carson} i was watching it too
[11:41] {Threei} ah OK
[11:41] {Threei} you call it then :)
[11:41] {_carson} was subconciously thinking that could very well be the bottom
[11:41] {_carson} hahah
[11:42] {_carson} but then i was like nahhh made enough money
[11:42] {_carson} went to eat and watch tv...come back and its up $1.50
[11:43] {Threei} Long Setup: TZA .85 break
[11:45] {Threei} .75 support for stop,
[11:45] {Threei} aim to sell half around .95 - 34
[11:45] {Threei} and ride the rest
[11:49] {_carson} we might get away with one here
[11:49] {_carson} knock on wood
[11:50] {Threei} carson, you protect your morning profit as we discussed?
[11:50] {Threei} 'cause there won't be any excuse for you not to finish today nicely in green
[11:51] {_carson} yeah yeah
[11:51] {_carson} i did
[11:51] {_carson} :D
[11:51] {Threei} OK market, you have my permission to start panicking about now
[11:52] {_carson} break that 131.80 level SPY
[11:52] {_carson} cmon
[11:52] {Threei} just did
[11:58] {_carson} this could really go either way
[11:59] {dino} up imo
[12:01] {_carson} Vad
[12:01] {_carson} RIMM @ vital support
[12:01] {Threei} half out
[12:01] {_carson} oh yeah
[12:01] {_carson} shold get half out
[12:02] {Threei} stop to .79
[12:02] {_carson} half out :D
[12:04] {Threei} come panic, come
[12:09] {samire} target ?
[12:09] {samire} second
[12:10] {Threei} next partial is 1/4 between .05 and .10
[12:10] {samire} ok
[12:10] {Threei} and third, probably will trail for now without exiting
[12:10] {Threei} want to play for a big selloff
[12:10] {Threei} markert smells like mini-crash
[12:11] {_carson} oh yeaaaah
[12:11] {_carson} big money boys
[12:11] {_carson} some out .05
[12:11] {Threei} out 1/4 more
[12:11] {Threei} .07
[12:11] {samire} gj
[12:11] {Threei} stop to .89
[12:12] {Threei} giving it some breathing room for now
[12:12] {Threei} will trail more aggressively if we get sharp spike
[12:12] {_carson} stop to .90
[12:12] {_carson} wanna get my order exec'd before vads
[12:12] {_carson} wait stop to .891
[12:12] {Threei} wrong idea
[12:12] {Threei} never place stop at round numbers
[12:12] {_carson} haha im just playing...its at .89
[12:13] {_carson} oh lordie
[12:13] {_carson} RIMM broke major support
[12:17] {samire} tza wow
[12:17] {Threei} stop to .94
[12:17] {Threei} .99
[12:17] {Threei} or just exit
[12:17] {Threei} personal choice
[12:18] {Threei} 40 cents profit
[12:18] {_carson} WOW
[12:18] {Threei} hard to ignore
[12:18] {_carson} i wasnt even
[12:18] {_carson} looking
[12:18] {_carson} HAHAHAHAHAHAH
[12:18] {_carson} wow
06[12:18] * Threei slaps _carson around a bit with a large roll of cash
[12:18] {Threei} 50 cents
[12:18] {dino} 1313 filled
[12:18] {Threei} told ya... panic... crash... and other appetizing words
[12:20] {Threei} ok, I am out
[12:20] {Threei} +.55
[12:20] {Threei} can I go home?
[12:20] {_carson} stop to .40
[12:20] {_carson} on rest
[12:20] {_carson} still in
[12:20] {_carson} ill just get stopped out
[12:21] {Threei} and guess what carson... admin just informed me that your trial is over... perfect timing, isn't it {GGG}
[12:21] {_carson} :D
[12:21] {Threei} 60
[12:22] {_carson} stop to .45
[12:23] {_carson} stopped
[12:28] {RonS} cenx l .93
[12:28] {ese} .
[12:39] {dino} yum sm l .01
[12:43] {_carson} wow dino
[12:44] {_carson} that worked out well for u
[12:50] {RonS} out cenx flat, not responding to mkt
[13:02] {dino} tlt spike
[13:16] {ese} ..
[13:19] {Threei} nice to see that selloff continues from yesterday
[13:19] {Threei} green day would signal total confusion
[13:20] {Threei} this selling is clear message - market is in the mood to sell into any engineered "good news"
[13:21] {dino} what good news was there?
[13:22] {Threei} well, those QE3 hints that Ben tried to scatter around like breadcrumbs
[13:22] {Threei} from market point of view it's upltifting news
[13:22] {Threei} and market chose to dismiss them the very next day
[13:23] {dino} www sm l .39
[13:24] {dino} .30
[13:24] {RonS} did not listen to the bernank but some saying he put it off the table today
[13:24] {dino} he did
[13:24] {dino} saying we don't need it
[13:25] {_carson} SPY on 20MA
[13:25] {Threei} from what I read, he didn't discarded it outright,
[13:25] {Threei} nor committed to anything
[13:26] {Threei} usual dithering
[13:26] {RonS} soft shuffle 3i
[13:26] {Threei} my thinking though is (well, whatever goes for thiking in my skull):
[13:27] {Threei} whatever support he has for QE3, enough or not,
[13:27] {Threei} whatever situation tells him to do,
[13:27] {Threei} main problem is - this is the only thing he understands
[13:28] {Threei} from his very beginning at the Feds helm he stated his dovish position, willingness to ease and print
[13:28] {Threei} inflation be dmaned
[13:28] {dino} helicopter ben
[13:28] {Threei} damned too
[13:28] {Threei} printing money and providing accomodative policy is his MO
[13:29] {Threei} he is like aa man with hammer
[13:29] {Threei} everything is nail
[13:29] {Threei} deflation? print money
[13:29] {Threei} inflation? print money
[13:29] {Threei} run out of? print money
[13:29] {Threei} of beer
[13:30] {Threei} school gilrfriend called and said that kid of hers was yours, and wife was within an earshot? print money
[13:34] {_carson} why is market
[13:34] {_carson} popping
[13:34] {_carson} like huge
[13:34] {RonS} 'cause i just vacated my longs
[13:36] {dino} out yum .30, +.29
[13:37] {dino} thx ron
[13:37] {RonS} yw
[13:46] {dino} spwra spike
[13:59] {dino} mrx sm l .00
[14:01] {dino} tlt drop
[14:01] {larisa} we will end up +100, so Vad does not think he knows it all :)
[14:01] {dino} bonds all over the place
[14:01] {dino} i'm w/ya larisa
[14:01] {larisa} but really crazy
[14:01] {Threei} hmmm
[14:02] {Threei} I don't?
[14:04] {larisa} very nervous market
[14:05] {Threei} yes
[14:06] {Threei} not knowing what to expect, and afraid to assume unthinkable, and scared to be caught if it happens
[14:07] {Threei} so, periods of "they don't dare, let's buy everything in sight" interchange with "who knows, they might be just crazy enough, let's sell"
[14:07] {Threei} I'll be back in about 50 min guys, to see what last hour brings
[14:07] {dino} out mrx .30, +.30
[14:08] {_carson} dino u ever lose on a trade
[14:08] {_carson} u machine
[14:08] {dino} no smoking vad
[14:08] {dino} yes carson 4 stops
[14:09] {dino} wow mrx straight up
[14:09] {dino} and down
[14:27] {dino} mrx sm l .30 trig
[14:39] {dino} .
[14:47] {Threei} back
[14:47] {Threei} Long Setup: TZA .60 break
[14:55] {Threei} 1:1
[14:55] {Threei} half out
[14:55] {Threei} stop to .55
[15:04] {Threei} anyone is alive yet?
[15:04] {Threei} or I can go back t sleep?
[15:07] {dino} .
[15:10] {RonS} nuts, tza rinse
[15:10] {nemo} touched the bottom of the BB, that's it
[15:26] {dino} mbi spike
[15:28] {RonS} MBIA up on BAC settlement offer, resistance at $10.35, its 200-day MA 07/14 01:23 PM
[15:29] {Threei} MBIA Inc BoA said to have offered MBIA a settlement agreement over mortgage lawsuit; no agreement reached on the size of the settlement - financial press
[15:33] {Threei} larisa... if we sell off now, do I preserve the "know it all" title?
[15:34] {larisa} I think so :)
[15:34] {larisa} for now
[15:34] {Threei} I know, it's on review every day :)
[15:38] {dino} out mrx .55, +.25
[15:56] {Threei} ginishing at the lows
[15:56] {Threei} finishing too
[15:56] {dino} lol
[15:56] {Threei} I'll go home proud know-it-all
[15:56] {Threei} at least for the day
[15:56] {Threei} thank you all, have a good evening
[15:56] {Threei} see yo tomorrow
[15:56] {dino} we'll give you today, but forget about it tomorrow
[15:56] {Threei} no doubt :)
[15:57] {larisa} lol
[15:57] {larisa} 4 minutes. we can go positive :)
[15:57] {Threei} eeck
[15:57] {Threei} lol
[15:57] {Threei} I'll eat my whole computer if that happens
[15:57] {Threei} with keyboard, mouse and 4 monitors
[15:58] {Threei} heck, I'll throw in laptop