Wednesday, August 3, 2011

Aug 03 2011

Not a bad day with a few nice wins and one small stop. No trades after the morning rush though. No interesting charts either.

Session Time: Wed Aug 03 00:00:00 2011
[09:00] {dino} gm all
[09:01] {Threei}  morning dino
[09:02] {Threei}  so... selloff or bounce
[09:03] {dino} bounce
[09:03] {Threei}  feels so but with sizeable pullback at some point... and I want to catch that pulback :)
[09:03] {nemo} SPY Bull Market Trendline is 126.35
[09:04] {Threei}  btyw dino, you missed high drama last week - beer vs carrot huice between me and larisa,
[09:04] {Threei}  she bet on dionw move, I - on bounce, we defined targets
[09:04] {Threei}  market dropped 5 min before close for her,
[09:04] {Threei}  then bounced big right into my target
[09:05] {Threei}  and I prayed for closing bell
[09:05] {dino} lol
[09:05] {Threei}  but damn thing dropped into HER target - half min before close!
[09:05] {Threei}  she was saved by the bell, and I was killed by same
[09:05] {Threei}  lost a 6-pack of carrot juice
[09:06] {dino} don't think i've ever had carrot juice
[09:07] {Threei}  neither had I
[09:08] {Threei}, look at 15:44 and further
[09:08] {dino} i suppose w/vodka its not bad
[09:09] {Threei}  could be but why would anyone want to waste good vodka {G}
[09:13] {ese} morning
[09:14] {Threei}  ese :)
[09:25] {Threei}  (EU) Euro zone is said to be considering making the EFSF a permanent entity - financial press
[09:25] {Threei}  lol
[09:26] {Threei}  bailout forever'
[09:27] {ese} what does that stand for EFSF
[09:27] {Threei}  financial stability fund
[09:27] {Threei}  read, bailout money
[09:30] {Threei} Long Setup:  TZA  42 break
[09:30] {nemo} oh shit
[09:30] {Threei}  stop under .85
[09:31] {Threei}  no go
[09:31] {nemo} i took tna .65
[09:31] {nemo} 1/2 .96
[09:31] {Threei}  nice
[09:31] {nemo} stop b/e
[09:32] {nemo} adding above .10
[09:33] {nemo} bought more .13 stop under .95
[09:33] {Threei} Long Setup:  TZA  .60 break
[09:34] {Threei}  1:1
[09:34] {nemo} all out
[09:34] {Threei}  wtg
[09:34] {Threei}  1:2
[09:34] {nemo} you 2
[09:34] {Threei}  mutual backslapping
[09:35] {Threei}  hey, don't break my back!!
[09:35] {nemo} hehehehe
[09:35] {Threei}  no one suggested slapping it with concrete pole!
[09:35] {nemo} that was my hand
[09:35] {nemo} you forget
[09:36] {nemo} SOB, should have held my original stop
[09:36] {Threei}  sigh... I need a portion of healing carrot juice...
[09:36] {nemo} Try healing vodka instead
[09:36] {nemo} important numbers 10
[09:38] {nemo} rimm wtf
[09:38] {Threei}  I don't see any news on it
[09:39] {pragmatic} bought rimm @ 29.94. Though exited too soon
[09:39] {Threei}  as long as it's not 29.97... :)
06[09:39] * pragmatic working on that
[09:40] {nemo} MOS might be setting up short
[09:41] {Threei} Short Setup: SLW  .50 break
[09:41] {nemo} damn, tried to get .53 before it dropped
[09:41] {Threei}  with limit .53??
[09:42] {nemo} so huge bid, tried to get it before it dropped
[09:42] {Threei}  here it is again
[09:42] {pragmatic} :)
[09:42] {pragmatic} there is always a second chance
[09:42] {Threei}  don't try to be cute, set real limits
[09:42] {nemo} no, there isn't
[09:42] {nemo} always a second chance
[09:43] {pragmatic} true actually. Ok, there is always a hope there would be a second chance
[09:43] {Threei}  no go anyway
[09:43] {nemo} got .58 hehehehehe
[09:43] {Threei}  .66 stop then
[09:44] {Threei}  above .41 candle
[09:44] {Threei}  9:41 I mean
[09:47] {nemo} 1/2 out .41
[09:47] {nemo} stop .61
[09:47] {Threei}  nice
[09:49] {Threei} Long Setup:  RIMM  .70 break
[09:49] {Threei}  target .95
[09:49] {Threei}  stop .65 for scalpers, .59 for normal people
[09:50] {pragmatic} Speaking of dead-cat bounces...  Research in Motion  shares are jumping 3% this morning after RIM released seven new Blackberry models, ending an agonizing wait
06[09:50] * pragmatic from news
[09:50] {Threei}  that 4:46 am news
[09:51] {pragmatic} yea, I am too late
[09:53] {Threei}  1:1
[09:56] {Threei}  1:2
[09:58] {Threei}  target hit
[09:59] {dino} cyou sm l ave .40
[10:00] {ese} L BKI 1/2 .75
[10:00] {Threei}  *(US) JULY ISM NON-MANUFACTURING COMPOSITE: 52.7 V 53.5E
[10:05] {pragmatic} just wonder why stock moves so fast around round numbers? Was trying to short SLW at .50, but it jumped right away to .47
[10:06] {dino} cyou stop -.30
[10:06] {Threei}  because many people traget those levels
[10:06] {ese} BKI stopped .47 -.27   damn ISM #
[10:17] {dino} lod
[10:20] {nemo} took tza .82
[10:21] {Threei}  wtg
[10:22] {nemo} had that collapsing feeling
[10:22] {nemo} took half at .30
[10:22] {Threei}  presage him failed not
[10:23] {Threei}  (US) Fitch analyst Riley: Fitch's assumptions on sovereign rating take into account GDP estimates at 2.5%
[10:23] {Threei}  - Reminder: Fitch yesterday affirmed the US's ratings at AAA, and called the debt ceiling legislation an important first step but not the end of the process towards putting in place a credible plan to reduce the budget deficit to a level that would secure the United States' 'AAA' status over the medium-term.
[10:24] {nemo} 1/4 more .72
[10:25] {dino} gj
[10:25] {nemo} stop under .48
[10:26] {nemo} check that .36
[10:27] {nemo} out .36
[10:28] {nemo} wanted the frickin' buck
[10:28] {dino} coh sm l .70 stop lod
[10:30] {Threei}  greed is good
[10:32] {dino} stopped
[10:32] {nemo} hah, tza bounced at the whole
[10:32] {Threei}  17% Say U.S. Heading In Right Direction
[10:33] {Threei}  that's drastic drop from traditional 27-28 number
[10:34] {Threei}  70% Believe U.S. Economy in Recession
[10:34] {Threei}  other 30% are in coma?
[10:34] {Threei}  RIMM
[10:34] {Threei}  want to abounce to short
[10:34] {dino} capit day in making
[10:34] {Threei}  want to find a bounce to short
[10:35] {Threei}  daily SPY is nothing short of wow
[10:35] {Threei}  what a cascade
[10:35] {Threei}  memories of 2008 fall
[10:35] {dino} we are back to sept 2010 levels
[10:35] {Threei}  fall as in both autumn and drop
[10:36] {dino} opps, wrong chart
[10:36] {Threei}  (EU) Luxembourg police said to be investigating a bomb threat near the city center - world press
[10:37] {Threei}  grrr
[10:37] {Threei}  was thinking of .10 RIMM short
[10:37] {dino} fast fall
[10:39] {Threei}  (EU) Greece Fin MIn: Recent developments in the Euro zone do not provide reassurance
[10:39] {Threei}  recent??
[10:41] {Threei}  clueless bunch of clueless imbeciles, cluelessly inching closer and closer to the edge of abyss with no clue how to avoid it
[10:41] {Threei}  correction:
[10:41] {Threei}  with no clue that it's unavoidable
[10:42] {Threei}  Just 22% Approve of Debt Ceiling Deal, Most Doubt It Will Cut Spending
[10:44] {dino} i think the greek fin. min, already knows a restructuring is coming, just threats to keep it moving
[10:45] {Threei}  yeah
[10:45] {Threei}  they new default would come in this or that form long before all that hoopla a month ago
[10:45] {Threei}  knew
[10:49] {dino} coh sm l .00 stop lod
[10:52] {dino} ppo sm l .5\2 stop lod
[10:54] {dino} out coh .60, +.60
[10:55] {ese} L exam .15
[10:56] {ese} check this one out dino......could br right up your alley
[10:56] {dino} ok
[10:57] {dino} i join you .20
[10:58] {ese} long as the spyders keep headin up were fine
[10:59] {ese} beat on revs and guided up slightly on revs   should help it
[10:59] {dino} out ppo .34, +.82
[11:01] {ese} very nice.....that was a excellent run
[11:02] {Threei}  wtg
[11:02] {ese} i want the same thing from exam
[11:02] {dino} ty
[11:08] {dino} fwlt sm l .52
[11:15] {ese} L kra .51
[11:16] {dino}  chk sm l .90 stop lod
[11:17] {dino} ndx green
[11:18] {ese} barely
[11:19] {Threei}  Bank of New York Company Inc Moody's affirms ratings for BK and JPM: outlook Negative following action on US Sovereign rating
[11:19] {Threei}  - The firms' supported ratings were confirmed at their current levels because the US government's rating was confirmed at Aaa and Moody's continues to believe that there is a very high probability that these institutions would be supported by the US government to avoid a default. The supported ratings have a negative outlook not only due to the US government's negative outlook, but also due to Moody's view that over time the likelihood that systemically important banks will be supported by the US government support could decline over time as the Dodd-Frank Act and other changes to the US banking system are implemented.
[11:20] {dino} out fwlt .02, +.50
[11:24] {dino} sm l sph .95
[11:25] {dino} pulp
[11:34] {dino} out sph .25, +.30
[11:52] {Threei}  coma
[11:53] {Threei}  deep
[11:56] {dino}   yeah, had a good run, but died
[12:03] {ese} opps my apologies was stopped out of KRA  long time ago at .26 -.25... just realised I forgot to post it
[12:27] {dino} bks spike
[12:32] {dino} kra sm l .52
[12:40] {dino} out kra .93, +.41
[13:12] {dino}  kra sm l .51
[13:22] {ese} zzzzzzzzzzzzzzzzzzzzzzzzzzzzzz nice one with kra dino......zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz
[13:23] {dino} quad drop
[13:23] {Threei}  here is something to make you wake up and laugh folks
[13:24] {dino} ty
[13:24] {Threei}  chinese publisher of Master Profit Plan says, they are ready to forward the translation to me in two months, so I can review it to establish authecity
[13:26] {dino} cool
[13:28] {Threei}  yeah but
[13:28] {Threei}  do I need to learn mandarin quicxkly?
[13:34] {Threei}  Harbin Electric Inc Responds to Citron research- CEO: "We are not really surprised by this most recent attempt by the short sellers to drive our share price down, Ever since the Company announced on June 20, 2011 that it has entered into a merger agreement for the Company to go private, management has been advised by many market professionals, including many of our highly supportive long-term investors, that attacks on the credibility of the Company would continue, and may even increase, in order to drive its share price down for the benefit of short sellers.
[13:34] {dino}  quad sm l ave .82
[13:43] {nemo} spy premarket high 126
[13:44] {Threei}  dino was right about bounce
[13:44] {nemo} needs 126.50 to gain pivot and Bull Market tend line
[13:45] {dino} green
[14:06] {dino} kra sm l .15
[14:07] {dino} stop -.25
[14:08] {dino} and rinsed
[14:21] {dino} quad stop
[14:25] {dino} kra sm l .01
[14:31] {dino} exam lod
[14:34] {dino} sm l .20
[14:43] {dino} idcc
[14:50] {dino} out kra .35, +.34
[15:23] {dino} crazy day
[15:24] {Threei}  in the big scheme of things, I am not convinced by this bounce that the selloff is over
[15:32] {dino} nor i, not really convinced either way. quite the beating, but euro and econ news terrible
[15:32] {dino} plus this latest govt fighting really discourages risk taking
[15:32] {dino} away drop
[15:33] {dino} sm l .02
[15:34] {dino} damn, entries are early on these this afternoon
[15:35] {Threei}  I can't time it all after morning trades
[15:39] {dino} sm l .25
[15:46] {dino} took all day, out chk .20, +.30
[15:47] {dino} out away .00, +.75
[15:47] {Threei}  very nice end to the day
[15:48] {dino} ty
[15:49] {dino} calling it a day, tee time in 40
[15:49] {Threei}  me too, although for a different reason
[15:49] {Threei}  thank you, havea great evening
[15:49] {Threei}  see you tomorrow
[15:49] {dino} :D
[15:49] {larisa} bye :)