Tuesday, August 30, 2011

Aug 30 2011

Very nice day with a lot of good trades. One made a Catch of the Day:


Session Time: Tue Aug 30 00:00:00 2011
[09:00] {Threei}  (US) JUN S&P/CASESHILLER 20 CITY M/M: -0.06% V 0.0%E
[09:19] {Threei}  (EU) German regulator Bafin: Against EBA efforts to allow the EFSF to be used to recapitalize European banks
[09:19] {larisa} gm :)
[09:20] {Threei}  larisa :)
[09:20] {larisa} vad :)
[09:22] {RonS} gm...any news from those mia?
[09:22] {_murex11} gm all
[09:23] {Threei}  ron, murex :)
[09:23] {Threei}  no ron
[09:24] {Threei}  (FI) Finland PM Katainen to make an announcement on an "economic matter" on Thursday, Sept 8th
[09:24] {Threei}  sounds ominous
[09:25] {Threei}  very news-driven market...
[09:25] {Threei}  yesterday's close was totally shaping up for another gap up
[09:25] {Threei}  instead we got this
[09:25] {Threei}  on noise from Europe
[09:27] {RonS} read that merkel is getting domestic political heat on greek bailout
[09:27] {Threei}  right
[09:28] {Threei}  with Sept 7 approching as critical date
[09:28] {Threei}  wit potential to become fatal day for EU
[09:28] {Threei}  no clear opening play
[09:28] {Threei}  watching scanner and usual suspects for setup
[09:30] {Threei}  uh oh
[09:30] {Threei}  Vancouver is no longer the best place in the world to live. After nearly a decade of topping livability studies, the city has slipped to number three behind Melbourne and Vienna.
[09:30] {Threei}  do I move..?
[09:34] {Threei} Long Setup:  SLW  .40 break
[09:34] {ese} gm
[09:34] {Threei}  ese :)
[09:34] {Threei}  let's do half lot
[09:35] {Threei}  spread is still abnormal
[09:35] {Threei}  if stays above .25
[09:36] {Threei} Short Setup: RIMM  .05 break
[09:36] {Threei}  if stays under .15
[09:37] {Threei}  invalidated
[09:39] {Threei} Short Setup: RIMM  .20 break
[09:39] {Threei}  aww, late
[09:39] {Threei}  SLW target 1:2
[09:39] {Threei}  1:1, half out
[09:39] {Threei}  ugh RIMM
[09:39] {pragmatic} ty SLW. out 1:1 (my risk factor)
[09:39] {RonS} slw .38 to .58  thanks 3i
[09:39] {Threei}  welcome
[09:40] {Threei}  1:2, target hit
[09:41] {Threei}  RIMM
[09:41] {Threei}  watching for same setup
[09:41] {Threei}  if stays under .30
[09:41] {Threei}  nope
[09:43] {Threei}  btw Ron... when nemo is back, don't forget to inform him that our first play for long SLW, yes LONG,
[09:45] {Threei} Long Setup:  FCX  .85 break
[09:45] {Threei}  stop under .75 scalpers, .70 day traders
[09:47] {Threei}  stop to under .75 for everyone
[09:48] {Threei}  .79 now
[09:48] {Threei}  let's keep it tight
[09:50] {Threei}  out
[09:52] {Threei}  watching TZA for entry on pullback, ideally between .10 and .20
[09:58] {Threei} Short Setup: RIMM  .50 break
[09:58] {Threei}  TZA bottomed out a bit too high for me
[09:59] {Threei}  dive to .20 was unobtainable
[10:00] {Threei}  *(US) AUG CONSUMER CONFIDENCE: 44.5 V 52.0E
[10:00] {Threei}  ugh TZA
[10:02] {Threei}  RIMM 1:1
[10:02] {RonS} rimm .54 to .36  thanks 3i
[10:02] {Threei}  :)
[10:03] {pragmatic} what was that activity spike about ?
[10:03] {Threei}  ,look up
[10:03] {RonS} is this dave in disguise?
[10:03] {Threei}  lol
[10:03] {Threei}  [10:00] {Threei} *(US) AUG CONSUMER CONFIDENCE: 44.5 V 52.0E
[10:05] {Threei}  1:2, out
[10:05] {Threei}  lord, this is one fragile market
[10:05] {Threei}  no wonder - with that very low volume rally, it was bound to snap at a first scare
[10:05] {Threei}  from yest:
[10:05] {Threei}  [14:26] {Threei} volume is ridiculously low
[10:05] {Threei}  [14:26] {Threei} I just can't see this rally as sustainable
[10:06] {Threei}  the only regret is that we haven't just jumped in TZA around .30
[10:07] {Threei}  1:3...
[10:17] {ese} L Panl .92
[10:18] {ese} 1/2
[10:24] {ese} out panl stopped .57
[10:24] {ese} -.34
[10:24] {ese} daaaaaaaaa
[10:25] {RonS} aaaaaaaaad
[10:25] {RonS} dino style pulp
[10:25] {ese} yup
[10:26] {RonS} had really good news the past two days but also quite the run...
[10:27] {ese} smells up to me......i'm sure i'm in at the wrong time
[10:28] {Threei}  IS) Israel armed forces said to have sent two warships to the Red Sea in due to a terror alert - world press
[10:28] {RonS} smells down to me but cannot short...
[10:28] {Threei}  their warships are not always here?
[10:28] {ese} didn't even know they had ships
[10:29] {RonS} was thinking the same but i guess more likely in mediterranean
[10:35] {Threei}  looking at TZA again
[10:35] {Threei}  not sure about entry yet
[10:40] {Threei} Long Setup:  TZA  .10 break
[10:40] {Threei}  .95 stop
[10:40] {Threei}  .45 target
[10:41] {Threei}  1:1
[10:41] {Threei}  stop to .05
[10:42] {Threei}  target hit
[10:42] {Threei}  nice and easy
[10:42] {RonS} gj
[10:42] {Threei}  sometimes they behave
[10:44] {ese} L panl sm .76
[10:45] {Threei}  http://www.facebook.com/photo.php?fbid=252983088069707&set=a.237133656321317.63196.235739863127363&type=1
[10:46] {ese} out panl. 54
[10:46] {ese} man this thing moves fast
[10:46] {RonS} nice gj
[10:46] {_jonnyquesada} 1:1
[10:46] {ese} tks
[10:46] {_jonnyquesada} ty
[10:46] {Threei}  sheesh ese
[10:47] {Threei}  good one
[10:47] {Threei}  haven't lost your shape in Europe trip eh?
[10:47] {ese} bs luck at this point...still getting sea legs back
[10:47] {ese} +.73
[10:48] {Threei}  speaking of Europe... my wife is in Spain right now... how's the weather over there?
[10:48] {RonS} bet rain on the plain...
[10:48] {ese} In Denmark it was hit or miss......they've had quite a rainy summer
[10:48] {Threei}  lol Ron
[10:49] {ese} although for our last 6 days it was summy
[10:49] {ese} sunny
[10:49] {Threei}  sunny summer = summy... we got it
[10:50] {ese} hmmmmmmm  i like that
[11:00] {_jonnyquesada} what r you whatching for now?
[11:02] {Threei}  looking around, trying to find anything trade-wrothy
[11:02] {Threei}  hoping that scanner spits out something interesting
[11:03] {Threei}  JCOM is kind of interesting
[11:03] {Threei}  but way too thin
[11:05] {Threei}  shot up nicely but not really traeable
[11:05] {Threei}  tradeable
[11:34] {_jonnyquesada} bmy
[11:35] {_jonnyquesada} short?
[11:35] {_jonnyquesada} or maybe wait for spy break?
[11:35] {Threei}  too narrow
[11:35] {Threei}  20 cents range for the most of the day
[11:36] {Threei}  no room to profit, really... unless you go for a few cents scalp
[11:36] {_jonnyquesada} i loke fore a scalp
[11:36] {_jonnyquesada} normaly, you don't do scalping?
[11:37] {Threei}  we do but we don't define scalping as a few cents
[11:37] {ese} L VRSN .02
[11:38] {Threei}  http://blog.realitytrader.com/2007/04/as-you-name-boat-or-what-is-scalping.html
[11:38] {Threei}  http://blog.realitytrader.com/2007/04/as-you-name-boat-or-what-is-scalping_22.html
[11:38] {Threei}  what's with bout of happiness, SPY?
[11:39] {ese} out 1/2 .09 +.07
[11:39] {RonS} methinks a little squeeze on weak shorts...
[11:40] {Threei}  weak shorts... is it like old shorts, worn along the seams...?
[12:32] {Threei} Short Setup: RIMM  .30 break
[12:32] {_jonnyquesada} or now i's lunch?
[12:32] {Threei}  just a small scalp most likely
[12:33] {Threei}  look at SPY, jonny
[12:33] {ese} lol
[12:33] {Threei}  see how it narrowed and does nothing?
[12:38] {RonS} kinda interesting 3i...i could not get past page 5 of atlas shrugged it was so boring...
[12:39] {Threei}  don't tell dino
[12:39] {Threei}  he will strangle you
[12:39] {RonS} ..interesting in that i slogged my way through ludwig von mises 885 page Human Action
[12:40] {Threei}  rofl
[12:40] {Threei}  and you found atlas shrugged boring??
[12:40] {Threei}  man, you are weird :)
[12:40] {ese} Ron do you have the Will and Ariel Durant 11 volume Story of Civilization collection?
[12:40] {RonS} ...figured a guy who had witnessed the demis of austria by the socialist had more to tell my than some pontificating philosopher
[12:40] {RonS} demise
[12:41] {RonS} no, historical surveys are not my thing...
[12:42] {_jonnyquesada} do you think RIMM it's short???
[12:42] {_jonnyquesada} it donesn'¡t break with spy...
[12:42] {_jonnyquesada} you don't want weakless?
[12:42] {Threei}  are we looking at the same RIMM?
[12:42] {Threei}  mine broke and drops
[12:42] {_jonnyquesada} lol
[12:42] {Threei}  :)
[12:42] {_jonnyquesada} now yes
[12:43] {Threei}  and is hitting 1;1
[12:43] {_jonnyquesada} but when I startes writtin no....
[12:43] {_jonnyquesada} ncredible
[12:43] {_jonnyquesada} yes
[12:43] {_jonnyquesada} here out at 20...but not yest
[12:43] {Threei}  now this is very rich with irony:
[12:43] {Threei}  (US) President Obama said to send letter to House Speaker Boehner highlighting the need to minimize regulatory burdens - financial press
[12:47] {RonS} wow,  this is classic Chow en Lai communist communication in action
[12:47] {ese} hmmmmmm......I enjoy the quick reads from that series.......what do you read mostly Ron?
[12:48] {RonS} economic history and philosophy now ese
[12:50] {RonS} sorry Chou en Lai
[12:53] {ese} philosophy is tough on me but i re read Schopenhauer's "The world as will"......the topics of genius and art i found fascinating.....read it in college and just re read it again a few months back
[12:55] {ese} claims a women can never be a genius.........any opinions on that Laris?
[12:57] {Threei}  RIMM over 1:2
[13:00] {larisa} geniuses are  mad people :)  So "intelligent fool" is good enough for me :)
[13:00] {ese} true....very true
[13:11] {Threei} Long Setup:  FCX  .10 break
[13:11] {Threei}  if stays above 46
[13:18] {Threei}  invalidated
[13:37] {RonS} ye olde fed minutes freeze...
[13:39] {Threei}  yeah
[13:39] {Threei}  although I see little value in that
[13:39] {Threei}  but if market wants to read it so be it
[13:39] {Threei}  I'd beter read idiotic comments by kocherlakota
[13:40] {Threei}  at least they have entertainment value
[13:56] {Threei}  another pearl:
[13:56] {Threei}  (EU) ECB's Trichet:- No quick and simple solutions to deal with rating agency scrutiny
[13:56] {Threei}  today is rich on those
[14:02] {Threei}  Minutes read very poorly
[14:02] {Threei}  you guys want full text?
[14:02] {Threei}  or I can skip posting all this stuff?
[14:02] {RonS} will read tape instead
[14:03] {Threei}  risks, grow, recovery uncertain, soft patch, blah blah
[14:04] {Threei}  there is no single optimistic word in minutes, no idea where that initial spike came from
[14:05] {Threei}  not that there is anything new in negative part, so why se,lloff I don;t know either
[14:36] {Threei} Long Setup:  TNA  .40 break
[14:36] {Threei}  half lot
[14:36] {Threei}  if stays above .25
[14:36] {Threei}  invalidated
[14:36] {Threei}  but looking for another entry
[14:37] {Threei} Long Setup:  TNA  .25 break
[14:38] {Threei}  if stays above .10
[14:39] {Threei}  target .60 - .80
[14:40] {Threei}  first partial .40 - .45
[14:47] {Threei}  oh come on
[14:47] {Threei}  3 cents to target?
[14:47] {Threei}  lol
[14:48] {Threei}  oh well
[14:52] {_jonnyquesada} maybe 20 recross?
[14:52] {Threei}  can't tell
[14:52] {Threei}  hectic action
[14:53] {Threei}  see?? :)
[14:53] {_jonnyquesada} I dont' know wats hectic
[14:53] {_jonnyquesada} i see now....
[14:53] {_jonnyquesada} wrong long 20 recross long...
[14:53] {_jonnyquesada} lol
[14:54] {_jonnyquesada} bmy me gusta en corto
[14:54] {Threei}  want me to start speaking russian?
[14:54] {_jonnyquesada} ups..bmy I like short
[14:54] {_jonnyquesada} excuseme
[14:54] {_jonnyquesada} lol
[14:57] {Threei}  I've no idea what you see interesting in BMY
[14:57] {Threei}  one of the most boruing stocks one can think of
[14:57] {_jonnyquesada} sure?
[14:57] {Threei}  take hours to move 5 cents
[14:57] {_jonnyquesada} ups...
[15:01] {_jonnyquesada} rimm muestra debilidad ahora
[15:01] {_jonnyquesada} excuse
[15:02] {Threei}  ja tak ne dumaju
[15:02] {_jonnyquesada} RIMM it's weak
[15:02] {_jonnyquesada} lol
[15:02] {_jonnyquesada} :-(
[15:07] {Threei}  Election 2012: Generic Republican 48%, Obama 40%
[15:14] {_jonnyquesada} rimm 55 recross
[15:14] {_jonnyquesada} maybe?
[15:14] {_jonnyquesada} one question...how many trades you do per day...more or less
[15:15] {Threei}  5-10
[15:18] {_jonnyquesada} I've read your book
[15:18] {_jonnyquesada} but I have'nt understand everything...my english isn't so good....
[15:19] {Threei}  sorry... it's available in Enlish and two Chinese only
[15:19] {_jonnyquesada} chinese??? lol....i think I prefer english
[15:20] {_jonnyquesada} rimm ahi la tienes
[15:20] {Threei}  yeah... both chinese languages actually... mandarin and simplified
[15:20] {_jonnyquesada} excuse
[15:20] {Threei}  there are tweo chinese languages
[15:20] {_jonnyquesada} lol....i think i understand better english....
[15:20] {_jonnyquesada} do you recomend me to see your videos..?
[15:20] {Threei}  just one german, one french, spanish, russian..
[15:21] {Threei}  and they haven't translated it to any of those - but they did to both chinese
[15:21] {Threei}  well... I recommend everyone to see them
[15:21] {_jonnyquesada} or beter tcome to the chat?
[15:21] {Threei}  if I didn't think they were useful, I wouldn't make them
[15:22] {Threei}  it's not mutually exclusive
[15:22] {Threei}  videos are for education
[15:22] {_jonnyquesada} ok...
[15:22] {Threei}  chat is for current calls
[15:23] {_jonnyquesada} ok...ty
[15:23] {_jonnyquesada} and excuse if sometimes i write in spanish....is not voluntary
[15:24] {Threei}  sure but I will answer in russian :)
[15:24] {Threei}  or we can both speak italian
[15:24] {Threei}  providing we don't know it, it must be interesting
[15:28] {_jonnyquesada} lol
[15:35] {Threei}  this is what I expcted from TNA last time around
[15:38] {_jonnyquesada} wow....how to predict this?!!!!
[15:38] {_jonnyquesada} excelent
[15:38] {RonS} muy bueno compadre
[15:40] {RonS} thinking the banks will move into their gap tomorrow
[15:41] {RonS} caught .85 out of gs today...plan to repeat
[15:42] {RonS} small shares...
[15:43] {Threei}  nice
[15:43] {Threei}  same pathetic volume today as yesterday
[15:43] {Threei}  worst city in the world to live:
[15:43] {Threei}  harare, zimbabwe
[15:44] {Threei}  never even heard of it
[15:44] {RonS} means no rabbits?
[15:45] {RonS} ...always meant to read the biography of cecil rhodes...must have been a heck of a guy...
[15:58] {Threei}  thank you all
[15:58] {Threei}  have a good evening,s ee you tomorrow
[15:59] {larisa} bye :)