Tuesday, August 16, 2011

Aug 16 2011

Nice day with enough wins to put it in category "I wish whole summer was like this." Interesting one is a milk trade, Catch of the Day, rewarded us for patient scalping during whole day:

Called as "not a scalp, deserves a real chance" at the time of entry, with exact target assigned 3 min later as it hit .40

Session Time: Tue Aug 16 00:00:00 2011
[08:32] {Threei} ul. Housing Starts: 604K, vs. Cons. 600K, Down 1.5%; Building Permits: 597K, vs. Cons. 605K
[08:59] {nemo} C&H on spy?
[08:59] {Threei} yeah
[09:09] {Threei} RasmussenPoll: 16% Say U.S. Economy Getting Better, 65% Say Worse {--- now we know 16% of earthlings actually live on Mars, and 19% are sound asleep throughout the day.
[09:16] {Threei} Obama to reveal jobs plan in Sept
[09:16] {Threei} hmm?
[09:16] {Threei} what's wrong with right now?
[09:17] {RonS} gm...can't make this up...dangdang has chairwoman named Peggy Yu Yu...
[09:17] {Threei} lol
[09:20] {nemo} what are the industrial production numbers
[09:22] {dino} gm all
[09:23] {Threei} dino :)
[09:23] {Threei} industrial production was up 1.0% in July
[09:23] {Threei} June's number, originally reported as an increase, was downwardly revised to minus 0.1%.
[09:24] {Threei} Jul. Industrial Production: 0.9%, vs. Cons. 0.5%; Capacity Utilization: 77.5%
[09:25] {RonS} must have built the O's $2 mil bus in July...
[09:26] {larisa} gm :)
[09:26] {Threei} larisa :)
[09:26] {larisa} vad :)
[09:26] {RonS} lol...hearing Fitch affirmed US AAA rating
[09:26] {RonS} good boy Fitch...
[09:27] {Threei} Moody will break the tie
[09:27] {Threei} no clear opening play yet
[09:27] {Threei} aside of SLW short that is, lol
[09:29] {Threei} also, TZA on pullback
[09:30] {Threei} Short Setup: SLW .20 break
[09:31] {Threei} if stays under .35
[09:31] {Threei} TZA, a bit more please
[09:31] {Threei} ugh... too jumpy
[09:32] {Threei} no go SLW
[09:32] {Threei} Short Setup: FCX 46 break
[09:33] {Threei} too fast
[09:33] {Threei} watching for second chance entry
[09:33] {Threei} in
[09:33] {Threei} stop above .10
[09:35] {nemo} wow slw
[09:35] {Threei} shorts don't work so far
[09:35] {Threei} TZA, what the deuce
[09:35] {nemo} they still have to go bust the shorts, this was to make them feel better
[09:35] {Threei} 30 centgs teleportation
[09:37] {Threei} need big red candle on TZA
[09:37] {Threei} to about .15
[09:37] {Threei} here it comes
[09:37] {Threei} in
[09:37] {Threei} .10, half lot
[09:37] {Threei} .95 stop
[09:39] {Threei} 1:1
[09:39] {RonS} got .06 to .33 ty
[09:39] {Threei} :)
[09:40] {Threei} out .55 in full
[09:40] {RonS} gj
[09:41] {Threei} sheeesh
[09:41] {Threei} look SLW
[09:42] {Threei} opening volatility is stunning
[09:43] {Threei} FCX
[09:43] {Threei} double top hunt
[09:43] {Threei} Short Setup: FCX .20 break
[09:43] {Threei} stop above .30 scalpers, .35 day traders
[09:44] {nemo} stop above .40
[09:45] {Threei} 1:1 scalpers
[09:45] {Threei} 1:1 day traders
[09:45] {Threei} ok... back in plus
[09:47] {Threei} .40 is possible for stop placement, nemo, but a bit too conservative... last two candles before the breakdown formed descending trendline, enough to determine the play
[09:47] {Threei} one topped under .30, another .32
[09:47] {Threei} run a line through them, you'll see my idea of that trade
[09:47] {nemo} yeah, but with this volatility
[09:48] {Threei} well... everything is a compromise
[09:48] {nemo} I saw it
[09:51] {Threei} 1:2, out in full
[09:51] {Threei} ok. life looks brighter
[09:52] {Threei} RIMM
[09:52] {Threei} harsh selloff
[09:53] {Threei} pullback to under .30 is for long entry
[09:53] {nemo} .20 stop again
[09:53] {Threei} Long Setup: RIMM .30 break if holding above .20
[09:55] {Threei} Long Setup: RIMM .20 break if holding above .10
[09:55] {Threei} clean double bottom
[09:55] {Threei} BBs are right, volume is right
[09:56] {Threei} needs to take .30 now for ultimate confirmation
[09:56] {Threei} 1:1
[09:56] {Threei} stop to .15 for the balance
06[09:57] * Threei kicks RIMM in its double bottom
[09:58] {dino} cyou sm l ave .18 gappy
[09:58] {Threei} ok, second half stopped
[09:58] {Threei} I might have confused front and rear when kicked it?...
[09:59] {Threei} where is jf... we need his chants
[09:59] {Threei} how long can be vacation, really?
[09:59] {dino} tzoo sm l .12
[10:01] {Threei} time to decide on the next direction
[10:02] {Threei} IMO... down
[10:02] {RonS} dino, see the news on cyou yesterday?
[10:03] {Threei} looking for TZA entry
[10:04] {dino} no ron, i'll look it up
[10:04] {Threei} Merkel-Sarkozy press conference at noon
[10:04] {RonS} largest holder selling...
[10:04] {dino} thx
[10:04] {Threei} no clear setup on TZA, just jumped
[10:06] {Threei} Short Setup: RIMM .15
[10:07] {Threei} stop above .25
[10:08] {Threei} no go
[10:09] {nemo} rimm likely going to .50 area if it breaks .30
[10:10] {Threei} my biggest mistake this morning was turning on volume on CNBC... first thing I heard was Cramer's voice
[10:10] {nemo} I haven't watched CNBC in 3 years
[10:11] {Threei} Long Setup: TZA .10 break
[10:12] {Threei} that was fast
[10:12] {nemo} stop {,90?
[10:13] {nemo} .90
[10:13] {dino} sm l sina .01
[10:13] {Threei} .95
[10:13] {Threei} uptrend would be broken there
[10:15] {Threei} RIMM rinsed
[10:17] {dino} out sina .14, +1.13
[10:17] {Threei} wtg
[10:17] {dino} ty
[10:24] {Threei} watching TZA for double bottom off .50
[10:25] {Threei} not yet
[10:25] {nemo} I have no idnication it's bottoming yet
[10:27] {RonS} sheesh dino, that news was on cbou not cyou...really sorry
[10:27] {Threei} nor I nemo, that was "what to watch for" alert, not actual setup
[10:27] {dino} no worries
[10:28] {nemo} spy likely going to 120.12
[10:29] {Threei} Long Setup: TZA .20 break
[10:29] {nemo} if it breaks that, we'll get to yesterday's close
[10:29] {Threei} stop under .10
[10:30] {dino} wow sina 99s
[10:31] {Threei} 1:1
[10:31] {dino} out tzoo .66, +.54
[10:31] {Threei} 1:2
[10:31] {Threei} out in full
[10:32] {Threei} 1:3... without me on board
[10:38] {Threei} Long Setup: FCX .10 break
[10:39] {Threei} if stays above 46
[10:44] {Threei} scratching FCX
[10:54] {Threei} now it works
[10:56] {nemo} here's spy pivot, we'll likely clsoe the gap today
[10:57] {dino} iwm sm l .00
[10:57] {Threei} is market so sure these folks will find the guts and way to kick the can down the road?
[10:58] {dino} gut says you are right nemo
[10:58] {dino} don't think thats the question vad
[10:58] {Threei} why not? they speak in an hour
[10:58] {dino} markets are seeing usa as safer and most likely the leader out if this mess, imo
[10:59] {Threei} yes, I mean Europe
[10:59] {dino} europe is f#cked
[10:59] {Threei} that's my view
[10:59] {Threei} and in an hour we should learn whether they admit it or still try to swim
[10:59] {RonS} besides, we already got the O in the back of the bus...
[11:00] {Threei} if they say no to eurobonds and offer no viable alternative, market should drop like a rock
[11:00] {Threei} lol ron
[11:00] {Threei} yet market acts as if it thinks they will offer something
[11:00] {Threei} I find it hard to believe, but maybe I am just not insane enough
[11:00] {dino} agreed. altho nobody expects the decision today
[11:01] {dino} markets think that in time euro-bonds will be offered, say 30 days, imo
[11:01] {Threei} not ultimate decision, but the whiff of whether they see any path forward
[11:01] {Threei} you think so?
[11:01] {dino} today, nohing happens/changes
[11:01] {Threei} I again find it hard to believe... but again, gotta be truly insane for that, lol
[11:02] {dino} and yes, in 30 days i do, as greece is out of money again in 30
[11:02] {Threei} I mean if collapse of EU today can be equalled to, say earthquake rated 7,
[11:03] {Threei} then adopting eurobonds destines EU for the 11 one down the road
[11:03] {Threei} by the 10 point scale
[11:04] {RonS} totally logarithmic dude...
[11:05] {dino} unless it stuctured as brady bonds, which worked out well. time will tell, but again, politicians want to stay in power, only way to is thru these bonds
[11:07] {dino} now if germany opts out of euro, all bets are off
[11:08] {Threei} or even France
[11:08] {Threei} Germany won't be carrying the weight alone
[11:09] {dino} germany will drop first, if anybody drops
[11:30] {dino} ppo sm l .00
[11:40] {dino} coh sm l .24
[11:44] {Threei} bout of happiness
[11:44] {dino} going green
[11:44] {RonS} like that phrase...
[11:46] {RonS} yeah...got ppo .14 ave to .74 +.60 migi-ese size...
[11:46] {dino} out ppo .76, +.76
[11:46] {RonS} thx dino btw
[11:46] {dino} wtfg
[11:51] {dino} stop coh -.16
[12:10] {nemo} this is too funny
[12:10] {Threei} heh
[12:11] {dino} coh rinsed
[12:11] {Threei} They suggest euro zone economic council
[12:11] {nemo} they sold it down this morning, got the shorts comfortable, now they'll go afrer the stops between here and 121.60 or so
[12:13] {nemo} Financial Transaction Tax going in in the EU
[12:13] {nemo} balanced budget requirement and an EU president within 2 years
[12:14] {Threei} imbeciles
[12:15] {nemo} Tax goes into effect as soon as next week
[12:20] {Threei} so, that's actually the only concrete thoing thwey agreed on, right?
[12:20] {Threei} euro zone council is vague bss
[12:20] {Threei} -s
[12:21] {Threei} down we go if so, IMO
[12:21] {Threei} Long Setup: TZA .40 break
[12:21] {RonS} lol
[12:21] {nemo} spy and iwm at vwap
[12:22] {Threei} invalidated
[12:22] {Threei} Long Setup: TZA .10 break
[12:22] {Threei} invalidated
[12:22] {Threei} new soundbite?
[12:23] {Threei} ugh
[12:23] {nemo} this volatility
[12:23] {Threei} too volatile for confident dsetup
[12:23] {Threei} look at it
[12:26] {Threei} I need a gun
[12:26] {nemo} why?
[12:26] {Threei} don't have to be brand new, I will use it just once
[12:27] {nemo} on whom?
[12:27] {Threei} myself, lol... missing this TZA
[12:27] {nemo} ahhh
[12:28] {RonS} German Chancellor Merkel, asked about Eurobonds, says they won't help resolve crisis
[12:28] {Threei} and that's the only thing that matters
[12:28] {nemo} you just need a bullet, a block of wood, a drill, a drill bit the size of the caliber, a 1" nail and a half inch wide board
[12:28] {Threei} no eutobonds - down we go
[12:29] {dino} sticking their head in the sand
[12:32] {Threei} well... my poreference is, no to bonds and let it all collapse
[12:32] {Threei} better now than later
[12:32] {Threei} rip off that bandaid
[12:38] {Threei} they also said EFSF shuld not be expanded
[12:38] {Threei} all in all, no to putting more money into system
[12:38] {dino} they pretty much did nothing, as usual
[12:38] {Threei} right
[12:39] {Threei} which, strangely, is a right thing to do, lol
[12:39] {dino} if i were greece, or greece was a family member, i'd advise default/bankruptcy
[12:40] {Threei} absolutely
[12:40] {dino} say, see ya suckers
[12:40] {Threei} and if I were Greece's lender, I would try to keep it aflot and make it pay as much as possible before defaulting - which is exactly what they do
[12:40] {dino} vit sm l .40
[12:41] {dino} right 3i, its more the lenders problem
[12:43] {dino} transaction tax over there will drive business over here
[12:44] {Threei} well, we still need "our" idiots not to follow "theirs"
[12:44] {dino} yes
[12:44] {Threei} 'cause, you know... idiocy is not really constrained by gerography
[12:44] {Threei} geography
[12:45] {nemo} neither is poor spelling
[12:45] {Threei} apparently :)
[12:45] {dino} lol
[12:45] {nemo} sorry...asshole gene
[12:46] {Threei} as long as you know the root of the problem...
[12:46] {Threei} who are we to argue :)
[12:46] {nemo} yeah...no cure
[12:53] {dino} sm l clf .53
[12:58] {Threei} Long Setup: TZA .40 break
[12:58] {Threei} .20 break now
[12:59] {dino} gpor gap fill
[12:59] {Threei} not a scalp
[12:59] {Threei} this one deserves real chance
[13:00] {Threei} offering first partial above .40
[13:00] {nemo} oh well
[13:00] {dino} gpor sm l .10
[13:00] {Threei} out .41
[13:00] {Threei} stop .15 for the balance
[13:01] {Threei} want SPY break of 119
[13:01] {Threei} want a full dollar out of this TZA entry
[13:01] {Threei} gimme gimme gimme
[13:02] {Threei} good boy TZA
[13:02] {Threei} second part out .62
[13:02] {nemo} sorry I sat that one out
06[13:02] * Threei slaps nemo around a bit with a large roll of cash
[13:02] {Threei} partialing 1/4s
[13:02] {nemo} today not my day, can't read it
[13:03] {Threei} third part out .90
[13:03] {dino} clf stop -.33
[13:03] {Threei} offering last piece 48.20
[13:03] {Threei} sto b/e
[13:03] {Threei} not trailing
[13:03] {dino} gj
[13:03] {Threei} finally, milk trade
[13:03] {Threei} catch of the day
[13:04] {Threei} reward for all that back and forth
[13:05] {Threei} out
[13:05] {Threei} full dollar
[13:06] {nemo} That's enough...ripped up...go study for that exam c u
[13:06] {Threei} I think I hurt his feelings
[13:06] {Threei} does nemo have feelings?
[13:07] {Threei} I'll ask him tomorrow
[13:07] {Threei} or he will read the log and send me nasty e-mail
[13:14] {dino} coh sm l .10
[13:16] {dino} tzoo sm l ave .20
[13:21] {dino} stop tzoo
[13:24] {dino} tzoo sm l .85
[13:25] {dino} out coh .44, +.34
[13:27] {dino} out tzoo .38, +.43
[13:27] {Threei} putting this trade in cache of trades to taunt all those who are on vacation when they are back
[13:33] {dino} tzoo sm l .01 ave
[13:33] {dino} clf big rinse
[13:33] {dino} ppo sm l .22
[13:39] {Threei} lol
[13:39] {Threei} democratic strategist on TV:
[13:39] {Threei} last stimulus was inadequately small, it must have been double or triple the size
[13:40] {dino} who is john galt
[13:40] {Threei} hard to believe these cretines...
[13:41] {Threei} they must be really thinking money grows on tree
[13:55] {dino} out tzoo .75, +.74
[13:56] {RonS} gj
[13:56] {dino} ty
[13:58] {Threei} I was going for "fj" meaning fantastic job, then decided it could be misundcerstood... then thught of it so deep and long that forgot to say anything at all
[13:59] {dino} holi spike
[13:59] {dino} lol 3i
[14:00] {dino} out ppo ave .55, +.33
[14:02] {RonS} geez why didn't we short ice?
[14:03] {dino} because its not nice
[14:04] {dino} :D
[14:04] {dino} larisa, how about a green close?
[14:05] {Threei} no frikin way
[14:06] {larisa} since when you are larisa? :)
[14:06] {Threei} doesn't matter
[14:06] {Threei} don't evn think about betting on it
[14:06] {larisa} dino I think -100 or worse :)
[14:07] {Threei} there
[14:07] {larisa} and not because threei said so :)
[14:09] {dino} are you sure thats not the reason? lol
[14:09] {dino} -30 dji close +/-10
[14:11] {larisa} :)
[14:14] {dino} got lucky, out gpor .33, +.32
[14:14] {dino} opps, +.22
[14:29] {RonS} soda canned...
[14:30] {RonS} wow
[14:31] {dino} soda spilling
[14:31] {RonS} no fizz today...
[14:34] {Threei} http://bit.ly/q9gGYT
[14:34] {Threei} very good decription of robin tax lunacy
[14:38] {Threei} let's get those greedy bastards indeed
[14:39] {dino} politicians never meet a tax they don't like
[14:49] {dino} sina sm l .25
[14:53] {dino} stop -.35
[14:58] {Threei} another TZA setup...
[14:58] {Threei} Long Setup: TZA .40 break
[14:58] {Threei} stop under .30
[14:58] {Threei} target .70
[14:58] {Threei} 1:1
[14:59] {Threei} three partials, standard routine
[14:59] {Threei} 1:2
[15:00] {Threei} stop .45
[15:01] {Threei} out
[15:01] {Threei} nice and clean move
[15:01] {dino} gj
[15:01] {Threei} ty
[15:02] {Threei} very pleasant pace - fluid and smooth
[15:02] {Threei} trade works fast enough to deliver instant gratification,
[15:02] {Threei} but hot so hectic that it's hard to enter and exit
[15:04] {dino} gpor hl l .76
[15:13] {dino} out ave .01 +.25
[15:28] {dino} -30
[15:29] {dino} took awhile, but out vit .70, +.30
[15:36] {dino} going green
[15:36] {Threei} nooo
[15:36] {Threei} no way'
[15:42] {Threei} if this market ends in green today, I am going to lose faith in hmanity
[15:43] {larisa} "hmanity" is the sister or "robin" tax ? :)
[15:44] {Threei} lol
[15:44] {Threei} meanie
[15:44] {dino} lol
[15:44] {Threei} me speak no english and barely types with me fins
[15:45] {dino} having one of those days, spilled my water and now i knocked over the peanut jar
[15:47] {larisa} same for me, dino, dropping stuff all day today
[15:48] {Threei} that's because you two are mean to me
[15:48] {Threei} somweone up there is looking out for me
[15:48] {Threei} and punishes you
[15:48] {dino} peanuts everywhere, need to call the dog
[15:49] {larisa} ants will work on it :)
[15:49] {dino} rather the dog
[15:50] {RonS} soda lod
[16:00] {Threei} faith in humanity is intact
[16:00] {Threei} thank you, have a great evening
[16:00] {Threei} see you tomorrow
[16:01] {larisa} bye :)