Wednesday, September 7, 2011

Sep 07 2011

Videoupdate to SPY daily, continuation of yesterday's with fresh developments

As usual on slow climb days, extreme boredom, not much activity, ending slightly negative.

Session Time: Wed Sep 07 00:00:00 2011
[08:35] {Threei}
[08:36] {nemo} can't open it, content not found
[08:36] {Threei}  then
[08:37] {Threei}  try, do you see the video?
[08:37] {nemo} it's running a channel
[08:37] {nemo} yep
[08:37] {Threei}  OK, better link:
[08:37] {Threei}
[08:37] {nemo} notice how the volume has been dropping
[08:37] {nemo} same with the other indexes
[08:38] {Threei}  you mean intraday of daily?
[08:38] {nemo} daily
[08:38] {nemo} volumes have been dropping since the recent bottom
[08:39] {Threei}  which is what I mentioned in the video
[08:39] {nemo} spy high this morning 50% retrace off the July '10 bottom
[08:39] {nemo} yes
[08:40] {nemo} .  think 119.60 then 120.50ish upper levels today, support likely around 117.75
[08:48] {Threei}  lol: (GR) UBS European Economist: Greece is insolvent and needs to default on its sovereign obligations
[08:48] {Threei}  no really?
[08:52] {Z} morning everyone
[08:52] {Threei}  Z :)
[09:07] {dino} gm all
[09:08] {Threei}  dino :)
[09:08] {Threei}  (GR) Greece two-year gov't yields continue to rise; above 54.1%, higher by more than 180bps
[09:08] {nemo} who says?
[09:08] {nemo} btw dino:
[09:08] {nemo}
[09:08] {nemo} spy levels for the week
[09:09] {nemo} and IWM:
[09:11] {nemo} short slw?
[09:11] {Threei}  sigh... I need to change my song
[09:11] {Threei}  I am too predictable
[09:11] {_shaun70} hello everyone
[09:11] {Threei}  shaun :)
[09:12] {ese} gm
[09:12] {Threei}  ese :)
[09:12] {Threei}  welcome to the jungle, shaun
[09:12] {_shaun70} I cant stay long - am about to board a plane from Cyprus to London but thought I would check you guys out for a bit
[09:12] {Threei}  these guys are savages, never mind them
[09:12] {_shaun70} Thanks Vad
[09:12] {ese} am gonna be close to cyprus in march
[09:13] {_shaun70} I've spent the last week trading from my swimming pool :)
[09:13] {nemo} wlt .50 level
[09:13] {ese} feel bad about that for ya
[09:13] {nemo} yeah
[09:13] {ese} it's too bad it had to happen to you
[09:13] {nemo} sucks being him
[09:13] {Threei}  hehe
[09:13] {Threei}  told ya shaun
[09:13] {ese} trading from the pool
[09:13] {Threei}  now you see what I mean
[09:13] {_shaun70} haha
[09:16] {nemo} frickin rabbit.  I bring a bag of timothy hay upstairs so she'll have something to munch on
[09:16] {nemo} Think she can just eat it out of the open end of the bag
[09:16] {nemo} No!
[09:17] {nemo} She's got to kick all of it out and find the tender
[09:17] {ese} lol
[09:17] {nemo} should be fun vacuuming it out of the carpet
[09:17] {ese} better you than us
[09:17] {Threei}  larisa... another sample for you to see how my accent improves by day:
[09:18] {larisa} gm :)
[09:18] {Threei}  rofl ese
[09:18] {nemo} tna long .18
[09:18] {nemo} spy moving
[09:18] {nemo} half out .32
[09:18] {nemo} whoa
[09:19] {larisa} link does not work for me :)
[09:19] {Threei}
[09:19] {ese} nice one nemo
[09:19] {Threei}  does this?
[09:19] {nemo} it keeps going
[09:19] {nemo} 1/4 more .58
[09:19] {larisa} nope
[09:19] {Threei}  what the deuce
[09:19] {nemo} this is ridiculous, but I"ll take it
[09:19] {Threei}  OK, backup that always works:
[09:19] {Threei}
[09:20] {nemo} stop is .35 for last bit
[09:22] {dino} gj
[09:22] {ese} nice one nemo
[09:28] {nemo} still in
[09:28] {nemo} just for the last 1/4 though
[09:29] {nemo} saw spy start moving, and tna was just sitting there like a squirrel in the headlights
[09:29] {dino} gaps above 11241,11493;  2219;  1204
[09:29] {Threei}  OK... I hate to be so predictable but watching SLW for short
[09:29] {Threei}  waiting for spread to tighten thugh
[09:30] {nemo} now I'm out
[09:30] {Threei}  FCX too
[09:30] {Threei} Short Setup: FCX  .10 break
[09:30] {Threei}  if stays under .20
[09:30] {nemo} oops
[09:30] {Threei}  man, that was fast
[09:31] {Threei}  see if bounces into trigger
[09:31] {nemo} yeah, teleport
[09:31] {Threei}  OK
[09:31] {Threei}  in
[09:31] {Threei}  stop above .20
[09:32] {Threei}  1:1
[09:32] {Threei}  1:2
[09:33] {Threei}  stop for the balance at .11
[09:36] {Threei}  done
[09:37] {Threei} Long Setup:  RIMM  .30 break
[09:38] {Threei}  if stays above .20 for scalpers, .15 day traders
[09:39] {_shaun70} Am out of here - flight boarding.  Good luck all
[09:39] {Threei}  take care shaun
[09:39] {Threei}  we will be here when you land
[09:40] {_shaun70} Vad :)
[09:46] {Threei}  no go RIMM
[09:48] {pragmatic} X 29 ?
[09:48] {Threei}  maybe if consolidsates here for cuple more minutes
[09:48] {Threei}  otherwise, not liking it very much
[09:53] {pragmatic} ok, how about X short now ? (29)
[09:53] {Threei}  yes
[09:53] {Threei}  just thought that
[09:53] {Threei} Short Setup: X  29 break
[09:53] {Threei}  if stays under .10
[09:54] {Threei}  1:1
[09:56] {RonS} dino, nav really pulpy today...
[10:02] {nemo} liking x long now, market going
[10:03] {Threei}  looks this way, yes
[10:03] {Threei}  inversed H&S too
[10:03] {Threei} Long Setup:  X  .12
[10:03] {Threei}  if stays above 29
[10:04] {nemo} spy miht pull back to .70 area
[10:04] {Threei}  cool
[10:04] {Threei}  will be a good test for X
[10:04] {nemo} yeah
[10:04] {Threei}  if holding near here, great long candidate
[10:04] {nemo} long .11
[10:09] {dino} ron, nav, no like
[10:09] {dino} played a little wlt 90 to 91, vsm
[10:09] {dino} still in brk/b from yesterday
[10:10] {ese} L THC .41
[10:12] {nemo} gdx .50
[10:13] {Threei} Long Setup:  SLW  .10 break
[10:13] {Threei}  too fast
[10:13] {nemo} took gdx .52
[10:13] {dino} brk/b to .93
[10:14] {nemo} stop is .54
[10:14] {Threei}  fiiinally X
[10:14] {nemo} x
[10:14] {Threei}  took its sweet time
[10:14] {Threei}  1:1
[10:15] {Threei}  SLW 1:1 too but without us onboard
[10:15] {Threei}  my fault actually, was a little late on alert
[10:17] {nemo} stop frickin' typing with your wings
[10:17] {nemo} fins
[10:17] {nemo} elbows
[10:18] {nemo} toes
[10:18] {nemo} antennae
[10:18] {Threei}  hmmm
[10:18] {nemo} then again...with you, we know voice recognition software in English won't work
[10:18] {Threei}  you narrow my options so much
[10:18] {Threei}  I tried that, yeah
[10:18] {Threei}  after two attempts it typed: leave me alone
[10:18] {nemo} probably makes the computer reboot
[10:18] {dino} out brk/b .93, +1.73
[10:20] {ese} awesome.....
[10:20] {ese} 10K
[10:20] {ese} ?
[10:20] {Threei}  wtg
[10:24] {dino} 400
[10:25] {Threei} Long Setup:  FCX.30  break
[10:25] {Threei} Long Setup:  FCX  .30 break
[10:25] {ese} huh!!!!!!1
[10:26] {Threei}  ?
[10:26] {Threei}  invalidated
[10:26] {Threei}  you know the best thing about this setup?
[10:26] {Threei}  it formed .40 break, and I decided I won't call it, it was to be a trap
[10:27] {ese} only 400.....auch du miya!!!!!!
[10:27] {Threei}  which it turned to be
[10:27] {ese} lol
[10:27] {Threei}  look how hard it smacked breakut buyers
[10:28] {ese} not nice for sure
[10:33] {ese} L THC avg .37
[10:36] {nemo} THC...hehehehe
[10:47] {patience} good morning
[10:48] {Threei}  patience :)
[11:04] {RonS} ...time to hear from Z...
[11:04] {RonS} ...since that is all that is going on...
[11:05] {Threei}  lol
[11:10] {Z} Z is lurking in the bushes
[11:10] {Z} :)
[11:11] {RonS} ...only nemo gets to do that...
[11:15] {Z} ...lurking in the bushes, waiting for threei's next explosive call :)
[11:15] {nemo} oh jeez...glad I'm wearing boots
[11:15] {Threei}  so am I, Z
[11:15] {Z} lol nemo
[11:15] {Threei}  both luring and waiting for my call
[11:16] {Threei}  lurking
[11:16] {dino}   chk leftovers stop to .29
[11:18] {dino} make it .39
[11:19] {RonS} uri 19% float short...slow burn squeeze ongoing
[11:19] {RonS} ...or the slowdown has ended...
[11:19] {RonS} :)
[11:21] {Z} according to the cnbc rose colored glasses, all is well in the financial world again
[11:22] {dino} until next drop
[11:22] {Z} exactly, changes by the hour for those clowns
[11:23] {dino} thats why music on, no cnbc after 9:00 am
[11:23] {RonS} europe closes in 6 min
[11:24] {nemo} for good?
[11:24] {Z} lol
[11:24] {RonS} don meredith
[11:24] {nemo} Turn out the lights...
[11:24] {dino} lol
[11:25] {nemo} and don't let the door hit you in the ass on the way out...
[11:31] {Threei}  lol
[11:31] {Threei}  woke up and saw nemo's "for good/"
[11:31] {Threei}  if Ron turns away I'll tell a soviet joke
[11:31] {RonS} ok w/ me...
[11:32] {RonS} that's how slow it is...
[11:32] {Threei}  hehe
[11:32] {dino} hoho\
[11:32] {Threei}  on a day of first soviet rocket launch, kid runs home screaming: Grandma, communists flew to the orbit!
[11:33] {Threei}  Grandma: all them?? for good?? Lord heard me...
[11:33] {Threei}  you can look now, Ron
[11:33] {RonS} clap...
[11:33] {RonS} :D
[11:39] {dino} out chk .39, +.64
[11:43] {Threei}
[11:44] {larisa} last one is funny :)
[11:45] {Threei}  one before, I like too
[11:45] {Threei}  he yawns and delicately covers his mouth
[11:46] {Threei}  with his fin
[11:53] {Threei}  these slow climb days bore the living daylihgt out of me
[11:54] {dino} me too
[11:55] {Threei}  although looking at SLW, I tend to think it's about to reverse
[11:56] {RonS} appears that way when you compare it to the slv
[11:57] {Threei}  watching if ay setup forms
[11:58] {nemo} tza
[11:59] {nemo} think spy might have one more push to the .60 area
[12:03] {Threei} Short Setup: SLW  40 break
[12:03] {Threei}  if stays under .10
[12:13] {ese} outta here cya tomorrow...still L thc
[12:19] {nemo} think we get a big run if spy breaks .60
[12:25] {nemo} pennant forming on spy, wedge on iwm, think we head north
[12:27] {dino}  feels up
[12:27] {nemo} question is, do they flush first
[12:28] {Threei}  no go SLW
[12:33] {Threei}  if you wanted to draw the chart of the least favorable day for our trading style, you couldn't come up with more perfect one than today's
[12:33] {nemo} here comes the run
[12:36] {nemo} 120.50 next target
[12:39] {dino}  1204 gap from thurs close
[12:41] {dino} back in 30
[12:41] {nemo} retracement confluence between most recent swing low and the 2009 bottom
[12:53] {Z} .
[12:53] {nemo} stop yelling
[13:35] {RonS} so, my daughter reports from shanghai that the chinese love seeing blue eyed little people
[13:36] {Threei}  I heard they stare
[13:38] {RonS} my next door blonde neighbor was studying in china...learned in elevator...someone you think he is swedish or russian?
[13:38] {Threei}  apparently blondes come only from those two nations
[13:39] {RonS} which are really the same bloodline...
[13:39] {dino}  sm l fran .99
[13:40] {RonS} his name is cornish so same bloodline too...
[13:46] {nemo} .60 weekly pivot for spy
[13:46] {RonS} saw some show on genghis khan...guy was so prodigious with his multi-hundreds harem that 10% of chinese carry his genetic markers
[13:47] {RonS} if true, quite amazing...
[13:47] {Threei}  lol
[13:50] {nemo} some warlord from Ireland was the same way
[13:51] {nemo} wow wlt dropped
[13:54] {dino} out fran .59, +.60
[13:55] {Threei}  nice
[13:55] {dino} ty
[13:57] {RonS} somehow i think a harem of irish women would be a nightmare...
[13:57] {nemo} speaking of Chinese, the character for trouble is two women under the same roof
[13:57] {nemo} beige book might give us the impetus to run to .120.50
[13:58] {RonS} got the mibbet boot but am back
[13:59] {RonS} out fran .10 to .80 +.70  thanks dino
[14:00] {Threei}  shrug
[14:00] {Threei}  what a revelation
[14:00] {nemo} bad news is good news
[14:01] {Z} the new paradigm
[14:01] {dino} wtg ron
[14:05] {nemo} 120.50 next stop
[14:23] {Threei} Long Setup:  TZA  43 break
[14:23] {Threei}  if stays above .85
[14:25] {Threei}  nah
[14:25] {Threei}  why did I bother to wake up today?
[14:25] {nemo} spy hit's trend line  soon
[14:30] {dino} 2219 filled
[14:35] {nemo} jeez...I should have just held my premarket buy in TNA
[14:35] {Threei}  no kidding
[14:35] {Threei}  all day climb
[14:36] {nemo} should climb tomorrow, then sell off on Friday a bit
[14:41] {nemo} flyer on GDX over .00?
[14:46] {Threei}  flyer?
[14:47] {nemo} yeah, took it at .00
[14:47] {nemo} decent setup, not expecting much velocity
[14:47] {nemo} stop is .94
[14:48] {nemo} 1:1
[14:49] {nemo} well, 1:1.4
[14:49] {nemo} 1.9?
[14:49] {nemo} 1.8?
[14:49] {nemo} oy vay
[14:49] {Threei}  lol
[14:49] {nemo} where's Magoo, he was good at math
[14:50] {dino} 11493 dji gap
[15:04] {nemo} wtf...wlt
[15:05] {dino} takeove5r rumors, played earlier
[15:06] {nemo} yeah, that drop was fast
[15:06] {nemo} tza
[15:06] {nemo} sorry
[15:06] {RonS} wlt... is not aware of any corporate developments to account for this activity
[15:06] {RonS} responding to a request from the Investment Industry Regulatory Organization of Canada on behalf of the Toronto Stock Exchange following recent trading activity. Walter Energy
[15:07] {RonS} i cannot short...dammit
[15:07] {dino} rumors  barrons, real$
[15:11] {Threei}  this has to be it
[15:11] {Threei}  taking TZA here
[15:12] {Threei}  ,80 break
[15:12] {RonS} pcx s .10
[15:12] {Threei}  stop under .65
[15:12] {Threei}  target 45.40
[15:12] {Threei}  43.40
[15:13] {nemo} right at spy trendline now
[15:14] {nemo} i took tna .80
[15:15] {Threei}  what the deuce
[15:15] {nemo} I think it bounces off it's trend line
[15:15] {nemo} I wanted .78, but didn't get it
[15:20] {nemo} 1:1
[15:20] {Threei}  I give up
[15:20] {nemo} that was flossing with barbed wire
[15:21] {Threei}  this day is hopeless
[15:21] {nemo} Well, you see the trend you were betting against
[15:21] {Threei}  I see this trend breaking
[15:21] {Threei}  look at SPY
[15:21] {Threei}  don't twell me it was not a valid setup
[15:22] {nemo} setup yes, but it's been bouncing up off of support all day
[15:23] {nemo} out balance
[15:24] {dino} and don't call him late for dinner
[15:24] {nemo} especially if bacon is involved
[15:27] {dino} of course bacon is involved, we are talking about you
[15:27] {RonS} out pcs +.11
[15:27] {RonS} pcx
[15:28] {Threei}  that's right
[15:28] {Threei}  thanks for your invasion
[15:28] {Threei}  so long suckers
[15:29] {nemo} took .81 tna
[15:29] {nemo} 1:1
[15:30] {nemo} iwm not following at the moment, stop at b/e
[15:35] {RonS} wow, 3i better hope that guy doesn't make it in...
[15:36] {Threei}  ?
[15:36] {nemo} caskets?
[15:36] {RonS} permutations of mispellings are infinite
[15:36] {Threei}  oh
[15:36] {Threei}  lol
[15:36] {Threei}  there goes my TZA
[15:37] {nemo} yeah, bull flag
[15:37] {Threei}  and that same SPY trend break I saw
[15:37] {Threei}  rinse by a few cents
[15:37] {nemo} yep, but you notice, it hit the trendline and then spent a couple of minutes retracing
[15:37] {Threei}  so, like I said.. valid setup, just not my day
[15:37] {Threei}  ah come on
[15:37] {nemo} then dropped like a prom dress
[15:37] {Threei}  don't overanalyze it
[15:37] {Threei}  it's simply a case of things not being exact
[15:38] {nemo} I had the trendline drawn in, that's what happened
[15:38] {Threei}  and on some days you hit a cluster on non-exactness
[15:38] {nemo} I understand, just given such a strong tight trend...
[15:40] {nemo} I was actually playing it off of spy, because IWM has been a very good doggy today
[15:40] {nemo} followed almost perfectly until that last trade of mine
[15:41] {RonS} wow, wlt recovered...
[15:41] {nemo} yeah if you can handle the spread.......Dino
[15:47] {nemo} market pulling a carbon copy of yesterday
[15:48] {RonS} anyone under 40 has not seen one...
[15:48] {nemo} not seen what?
[15:49] {RonS} carbon copy
[15:49] {nemo} ahhhh, good point
[15:49] {nemo} o.k. a perfect scan of yesterday
[15:49] {RonS} lol...perfect
[15:49] {nemo} and don't forget....
[15:49] {nemo} the mimeograph
[15:50] {Threei}  so, what do those under 40 think CC means on e-mail interface?
[15:50] {nemo} I never asked
[15:51] {RonS} wife asks high school girl to "get me a xerox of this"...she says what is that?
[15:51] {Z} carbon copy
[15:51] {Z} what's the prize?
[15:51] {Threei}  just woke up Z?? :)
[15:51] {Threei}  scroll up rthe conversation :)
[15:51] {Z} yea guess so
[15:51] {nemo} Les jr.
[15:52] {Threei}  can't blame you really
[15:52] {Z} been a sleeper of a day
[15:53] {Z} eat your wheaties in the morning three :)
[15:55] {Z} breakfast of champions :)
[15:56] {nemo} tomorrow should be interesting...jobless claims, inflation, and trade reports pre-market
[15:56] {Threei}  sorry... bacon it is
[15:56] {Threei}  champions are free to eat whatever they please
[15:57] {dino} wlt, see that nemo. had to go to bus stop, so next 10 months 3:30 to 4:00 nit really here
[15:57] {nemo} just commenting on it's move and how it's your kinda' stock
[15:58] {dino} understand, will be watching it tomorrow
[15:58] {Z} take it easy, see u all tomorrow
[15:58] {dino} nit=not above
[15:58] {nemo} see if they run spy here to .50s
[15:58] {Threei}  thank you all
[15:58] {Threei}  have a good evening
[15:58] {nemo} hasta manana
[15:58] {Threei}  see you tomorrow
[15:58] {dino} well, as patience would say, ending day all cash
[15:59] {dino} thx all for ideas, good time
[16:00] {larisa} bye :)