Monday, September 12, 2011

Sep 12 2011

Nice day with just one small stop and a lot of cool wins. Catch of the Day is this textbook SLW short, chart is pretty much self-explanatory

Session Time: Mon Sep 12 00:00:00 2011
[09:04] {_shaun70} Hello again everyone
[09:04] {Threei}  good morning shaun
[09:04] {Threei}  we just start lifitng our eyelids
[09:05] {_shaun70} Hi Vad - nice to be back with you.  So far I've only been able to make 1 day of my free trial because of travel and funeral :( Good to be back though
[09:05] {Threei}  why don't we just extend it so you can take full advantage
[09:05] {_shaun70} That would be awesome Vad, thanks so much!
[09:05] {Threei}  no problem, that would only be fair
[09:06] {_shaun70} I appreciate it, thank you
[09:06] {Threei}  when system sends youy a notification of trial end, just ignore it
[09:06] {Threei}  your access will stay active
[09:07] {_shaun70} great, thanks :)
[09:19] {dino} gm all
[09:19] {Threei}  dino :)
[09:23] {Threei}  reek 1-Year Debt Yield Hits 108%
[09:23] {Threei}  Greek that was
[09:26] {ese} gm
[09:26] {larisa} gm :)
[09:26] {Threei}  ese :)
[09:26] {Threei}  larisa :)
[09:26] {larisa} vad, ese :)
[09:28] {Threei}  so far I am inclined to start with shorting bounces
[09:28] {Threei}  then we will see what shapes up
[09:29] {Threei}  FCX, possible setup is little range betwen 41 and 41.15, then short of 41 break
[09:30] {Threei}  let this hypervolstility exhaust itself
[09:31] {Threei} Short Setup: FCX  41 break
[09:31] {Threei}  stop above .15
[09:31] {Threei}  1:1
[09:31] {Threei}  like clockwork
[09:31] {dino} gaps 10716, 2044, 1120
[09:32] {Threei}  again, same setup
[09:33] {Threei}  actually, if stays under .10 this time
[09:33] {Threei}  invalidated
[09:34] {Threei}  SLW's turn
[09:34] {Threei} Short Setup: SLW  .35 break
[09:34] {Threei}  if stays under .45
[09:34] {nemo} quite the spread for slw
[09:34] {Threei}  no chance of execution
[09:34] {Threei}  teleported
[09:35] {Threei}  ugh
[09:36] {dino} brk/b flat
[09:36] {dino} nvda positive
[09:36] {dino} idcc pos
[09:36] {Threei}  lol, .20 break was long on SLW... no chance to even type that
[09:37] {Threei}  FCX shapes similarly
[09:37] {Threei} Long Setup:  FCX  .20 break
[09:37] {Threei}  stop under .10
[09:37] {Threei}  1:1
[09:37] {Threei}  half out
[09:38] {Threei}  touched 1:2, I was a bit slow on exit
[09:38] {Threei}  stop .19
[09:38] {dino} 07 all geen,
[09:38] {Threei}  1:2
[09:38] {Threei}  1/4 out
[09:39] {Threei}  stop to .25
[09:39] {dino} gj
[09:39] {Threei}  ty
[09:39] {Threei}  1:3
[09:39] {Threei}  out
[09:39] {Threei}  1:4
[09:40] {Threei}  8% Give U.S. Economy Positive Rating
[09:40] {Threei}  now we know what % of population never comes out from basement
[09:43] {Threei}  watching FCX for double top, if it goes above .40
[09:43] {Threei}  and SLW above .50
[09:43] {Threei} Short Setup: FCX  .40 break
[09:44] {Threei}  1:1
[09:44] {Threei}  things happen fast
[09:44] {nemo} yeah, hard to catch
[09:44] {Threei}  yes, no chasing if missed
[09:46] {Threei}  SLW didn't let us in
[09:48] {nemo} fcx looks long
[09:48] {Threei}  .40 break?
[09:48] {nemo} if we get volume yeah, see it's forming that trend line
[09:49] {nemo} nope
[09:49] {Threei}  lost it
[09:49] {nemo} tza .16
[09:49] {nemo} out
[09:49] {nemo} whoa
[09:50] {nemo} still wild out there
[09:50] {nemo} rinse?
[09:50] {nemo} yep
[09:50] {Threei}  probably...
[09:50] {nemo} might be a hemmrhoid pillow AND helmet day
[09:51] {dino}  sitting....
[09:52] {dino} ndx green
[09:52] {Threei}  nice recovery
[09:53] {Threei}  FCX did it after all, just with different trigger
[09:55] {Threei} Long Setup:  MDCO  .30 break
[09:55] {Threei}  half lot
[09:56] {nemo} wow, liquid stock
[09:56] {nemo} channeling Dino
[09:56] {Threei}  that's why half lot
[09:56] {Threei}  even though stop is fairly tight
[09:57] {nemo} ahhh, what is the stop .19?
[09:57] {Threei}  yeah, under .20
[09:57] {Threei}  lol
[09:57] {nemo} well, that was futile
[09:58] {Threei}  only if you manage to grab last shares at .30 which is highly questionable
[09:58] {Threei}  SPY green
[10:00] {nemo} expect spy to go to .42-60 area
[10:02] {Threei}  looking for TZA entry
[10:02] {Threei}  need pullback, desirably into .60 - .70 area
[10:05] {Threei}  hetting interested
[10:06] {Threei}  half lot long .50 break
[10:06] {Threei}  boy, the speed...
[10:07] {nemo} I think spy goes to that area before tza becomes viable
[10:07] {Threei}  SPY reaks
[10:08] {Threei}  breaks
[10:08] {Threei}  no TZA for now
[10:08] {_shaun70} I have to go chaps. Nice FCX trade - 1 from 1 :)
[10:08] {Threei}  take care shaun
[10:08] {dino} odd day
[10:08] {_shaun70} Cheers Vad :)
[10:11] {dino} qcor?
[10:11] {Threei}  I don't have news for it
[10:12] {dino} sm l .26
[10:13] {RonS} qcor filed 8k today...may be something in it....
[10:14] {dino} stop is lod break
[10:14] {ese} L CFX .61
[10:14] {Threei} Long Setup:  CAT  .50 break
[10:14] {Threei}  half lot
[10:14] {Threei}  if holding .35
[10:15] {ese} kinda one of your types dino
[10:15] {ese} cfx
[10:15] {dino} takeover?
[10:16] {dino} qcor stop -.28
[10:16] {ese} bought another company
[10:16] {nemo} if it drops .35 likely goes under 83
[10:17] {ese} out 1/2 cfx .70 +.09
[10:17] {ese} stopped balance even
[10:19] {dino} qcor sm l .00
[10:22] {Threei} Long Setup:  TZA  49 break
[10:23] {Threei}  1;1
[10:24] {Threei}  stop was under .85
[10:24] {Threei}  1:2
[10:25] {Threei}  at least this one gave time for entry
[10:26] {ese} strong looking to
[10:26] {dino} out qcor .50, +.50
[10:26] {Threei}  wtg
[10:26] {dino} ty
[10:26] {ese} perfect!
[10:26] {Threei}  dino found his victim
[10:26] {ese} finds many victums
[10:27] {Threei}  stalked it and hit it over the head in the dark back
[10:27] {Threei}  alley
[10:27] {ese} yup
[10:27] {dino} lol
[10:28] {Threei}  in total accordance with latest post on educaional blog, read it when morning rush is over
[10:28] {Threei}
[10:29] {ese} new reality is not much time on the board this semester outta here...cya tomorow
[10:32] {_roger99} fcx
[10:32] {Threei}  looking at it too roger
[10:32] {Threei}  double bottom or breakdown
[10:32] {dino} cya es
[10:33] {Threei} Long Setup:  FCX  .20 break
[10:33] {Threei}  if stays above .20
[10:33] {Threei}  .10 sorry
[10:33] {Threei}  10:33 doji makes this setup
[10:34] {Threei}  target 1:2
[10:34] {nemo} market weakening
[10:35] {Threei}  two partials, half n'half
[10:37] {Threei}  1:1
[10:38] {Threei}  textbook setup, good to see this kind working
[10:39] {Threei}  all elements of legit double bottom
[10:39] {Threei}  BBs, volume, doji
[10:39] {Threei}  and downward tail aftet doji
[10:39] {Threei}  I can't stop marveling, lol
[10:41] {dino} slllaaaaapppp
[10:42] {Threei}  why, oh why...
[10:43] {dino} trying to snap you out of your amazement
[10:43] {Threei}  but I like my delusions
[10:44] {Threei}  I prefer to remain submerged in them
[10:45] {Threei}  larisa won't let me use word panic... dino won't let me stay amazed... where poor peasant to go...
[10:47] {dino} home
[10:48] {RonS} wlt into its gap...
[10:49] {RonS} dragging all coal w/ it
[10:51] {dino} nvda l .00
[10:52] {dino} cat sm l .25
[10:56] {dino} strength brk/b, mtrx, mind, titn, vrsn, giii
[10:57] {dino} nvda
[11:01] {Threei} Long Setup:  TNA  .60 break
[11:01] {Threei}  half lot
[11:02] {Threei}  if stays above .45
[11:05] {Threei}  target .90
[11:05] {RonS} unreal...or maybe too often real...O tv now
[11:05] {_roger99} did u sell any ?
[11:05] {Threei}  1:1
[11:06] {Threei}  half out
[11:06] {Threei}  following standard procedure roger
[11:06] {Threei}  out in full
[11:09] {RonS} O off now
[11:09] {dino} kr l .50
[11:10] {dino} obamination, oblahblah, oconstantcampaigner, shall i go on
[11:12] {Threei}  International Institute of Finance (IIF): Have not seen a casual link between speculation and commodity prices; cautions the G20 against placing restrictions on derivatives trading in commodities such as position limi
[11:12] {Threei}  - Sees risks that restrictions could hurt market liquidity
[11:13] {RonS} has been sub
[11:14] {dino} idcc sm l .70 ave
[11:16] {dino} out nvda .13, +.13
[11:16] {dino} out idcc .00, +.30
[11:16] {Threei}  nice
[11:16] {dino} ty
[11:18] {dino} joyg sm l .50
[11:21] {dino} idcc sm l .77
[11:22] {dino} out .10, +.33
[11:38] {dino} out joyg ..92, +.42
[11:39] {dino} out cat .69, +.44
[11:39] {dino} kr stop -.11
[11:40] {Threei}  LTBR
[11:40] {Threei}  halt
[11:40] {Threei}  strange news
[11:40] {Threei}  - LTBR announced Lightbridge's Malone to Chair WNA's Newly-Formed Fuel Technology Working Group.
[11:40] {Threei}  - As chair of the Working Group, Malone will lead a body of members from industry organizations that include representatives of the world's leading nuclear fuel companies and utilities.
[11:41] {Threei}  so what?
[11:41] {Threei}  I mean, why would it send a stock from 2.90 to 3.56?
[11:41] {RonS} knee jerk short cover?
[11:42] {dino} dk
[11:42] {Threei}  plus very very fat finger
[11:42] {dino} damn out too soon cat, joyg
[11:54] {dino} out mdco .73 ave, +.43, ty 3i for heads up
[11:55] {Threei}  :)
[12:04] {_roger99} Great Job today Three
[12:04] {_roger99} my first day
[12:04] {_roger99} is it always like that ?
[12:04] {Threei}  hmm
[12:04] {Threei}  well
[12:05] {nemo} no
[12:05] {Threei}  I wish I could say yes, but in the fact is, it's only about 4 days out of 5
[12:05] {_roger99} not bad
[12:05] {nemo} Very consistent over time, and he can have some ridiculously long winning runs
[12:05] {Threei}  and sometimes losing clusters
[12:05] {Threei}  but they are much shirter
[12:05] {nemo} longest I've observed is 3 days in a row
[12:06] {Threei}  really?
[12:06] {Threei}  never monitored that :)
[12:06] {nemo} Pretty usually have one once a year sometimes twice
[12:06] {Threei}  sounds good, expecially considering that winning streaks arfe sometimes several weeks in a row
[12:06] {nemo} I'll never forget the Fall of 2008
[12:07] {Threei}  oh yes... that was a beauty
[12:07] {nemo} You whistled through the graveyard as the corpses piled up
[12:07] {Threei}  couple months of no single losing day
[12:07] {_roger99} did u make money Fall 2008  ?
[12:07] {nemo} Yeah, remember come in limit down one morning, wow
[12:07] {nemo} yeah, for 2 months straight not a single losing day
[12:07] {_roger99} wow
[12:07] {Threei}  every day of all that debacle woger
[12:07] {Threei}  we normally do very well on red days
[12:08] {_roger99} i c
[12:08] {Threei}  on green days, we do well if it's back and forth day, with normal volatility
[12:08] {_shaun70} Hello everyone.  Am back.  Have I missed a good morning session?
[12:08] {Threei}  slow gradual climb days are usually ones where we just don't find our plays
[12:09] {Threei}  pretty much shaun... one stop
[12:09] {Threei}  on half lot
[12:09] {Threei}  the rest worked like charm
[12:09] {_shaun70} Awesome!
[12:09] {Threei}  and dino beat the market over the head with a club
[12:09] {_shaun70} Dino-soar :)
[12:10] {Threei}  he does get T-rexy sometimes
[12:10] {Threei}  watching SLW
[12:10] {Threei}  interested in possible breakdown
[12:11] {Threei}  .70 would be a short trigger
[12:11] {Threei}  trying to find a range for stop/invalidation placement
[12:12] {Threei}  so far it's .85
[12:12] {Threei}  but I would be happier with .80
[12:12] {dino} :D
[12:13] {Threei}  let's do it this way
[12:13] {Threei} Short Setup: SLW  .70, if stays under .80 for scalpers, .85 for day traders
[12:13] {Threei}  of course if you like the idea, you can take aggressive entry here with tight stop .86
[12:14] {Threei}  that's discretionary
[12:17] {nemo} .75 trigger?
[12:18] {Threei}  regular trigger is .70
[12:18] {nemo} look bid
[12:18] {Threei}  aggressive is whereevr you chose it to be
[12:18] {Threei}  and .75 with its bid is a good spot
[12:18] {nemo} having said that indexes look like they might firm up a bit
[12:19] {Threei}  well, SLW is not exactly follower of major indices lately
[12:19] {nemo} just sayin'
[12:19] {nemo} .74
[12:22] {dino} szym spike
[12:22] {nemo} 1/2 .64
[12:24] {dino} joyg gap fill
[12:24] {dino} sm l .75
[12:26] {Threei}  zzzzere you go
[12:26] {Threei}  1:1 scalpers
[12:26] {Threei}  1:1 day traders
[12:30] {_roger99} gj Dino on joyg
[12:31] {dino} ty
[12:31] {dino} still in
[12:31] {_roger99} took .25 profit....all out
[12:32] {dino} gj
[12:32] {dino} should've too
[12:35] {dino} retail showing strength
[12:36] {RonS} ha! 3i on stocktwits...tux and pipe and all
[12:38] {Threei}  and you still don't follow me??
[12:38] {Threei}  :)
[12:38] {nemo}
[12:39] {RonS} didn't know you were there...somehow popped up on my home now
[12:40] {Threei}  that's because I wasn't, up to this weekend, lol
[12:40] {Threei}  the vortex of social media slowly drags me in...
[12:41] {dino} joyg stop -.25
[12:41] {RonS} now i popped up because i follow slw and you mentioned it
[12:41] {Threei}  :)
[12:41] {Threei}  SLW is dying nicely
[12:42] {Threei}  1:2 baby
[12:47] {Threei}  out in full
[12:47] {_shaun70} :)
[12:48] {nemo} tna long coming up
[12:48] {nemo} looking for spy to hold .60
[12:51] {nemo} l .96
[12:51] {nemo} out under .85
[12:52] {nemo} if spy looks like it's going to stb, I'm out too
[12:52] {dino} cat sm l .75
[12:53] {nemo} 1/3 @.10
[12:54] {nemo} stop just under be
[12:59] {nemo} bought back .06, full lot
[13:00] {nemo} took it off .19
[13:01] {nemo} not sure yet, still have original stop, but thinking about moving it up to .99
[13:02] {nemo} wow, all of .04
[13:02] {nemo} looking for spy to go to vwap
[13:03] {nemo} took half left at .30
[13:03] {nemo} last partial to go
[13:05] {nemo} stop .14
[13:05] {dino} gs spike
[13:09] {dino} out cat .05, +.30
[13:20] {nemo} might have another long coming if spy holds here
[13:26] {Threei}  Germany Fin Min Schaeuble: There can be no discounts in Greece's austerity programs, government needs to be ready for everything
[13:27] {nemo} tna .06
[13:27] {nemo} stop .under .95
[13:28] {nemo} probably should be under .90, but, don't want to give it that much
[13:28] {nemo} probably should take a tza long as a hedge also ;)
[13:28] {nemo} big bids .94
[13:29] {nemo} oh well
[13:32] {Threei}  - Reiterates current treaties do not allow excluding Greece from the euro zone.
[13:32] {Threei}  lol
[13:32] {Threei}  Greece: oh good, we will do it on our own schedule
[13:35] {Threei}  look at this
[13:35] {Threei}
[13:37] {RonS} ...coming to a U.S. near you...
[13:37] {Threei}  god, I hope not
[13:38] {Threei}  if this happens in US, it's the end of the world as we know it
[13:38] {RonS} yep
[13:39] {dino} joyg sm l .-5% since wed
[13:39] {RonS} -5% since friday
[13:41] {Threei}  always disliked Krugman but after this weekend, I can't stand the guy
[13:41] {dino} disregard post.
[13:46] {dino} gpor sm l ave .40
[13:51] {Threei}  Default rates on student loans said to have risen to near 9% from 7% over the course of 2 years through to Sept 2020 - financial press
[13:54] {dino} nvda l .90
[14:06] {dino} stop gpor -.20
[14:06] {Threei}  (US) Rep Boehner (R-OH) Spokesman: President Obama's tax proposals are not bipartisan, have been opposed by both parties in the past
[14:07] {RonS} hummm, doesn't that make them bipartisan?
[14:08] {Threei}  lol
[14:08] {Threei}  good point
[14:08] {Threei}  I guess they opposed different proposals
[14:11] {Threei}  what the...
[14:11] {Threei}  COUGAR SIGHTING! West Saanich at McTavish.
[14:11] {Threei}  it's 3 min drive from me
[14:11] {Threei}  cougars encroach
[14:12] {Threei}  ok... nemo
[14:12] {Threei}  SPY is about to crash?
[14:12] {Threei}  lose 114 and go into panic mode?
[14:17] {dino} gpor last try sm l .32
[14:36] {Threei}  I don't have any news for this spike
[14:36] {dino} spike
[14:36] {nemo} they're fighting to get it above the bearflag support on the daily
[14:36] {dino} out gpor .74, +.42
[14:37] {dino} out nvda .07, +.17
[14:46] {dino} i said it before and i'll say it again, "odd day"
[14:49] {dino} you mean china to buy italy, lol
[14:50] {RonS} ...sending marco polo to broker the deal...
[14:50] {dino} check this out, 1st time s/p crossed 1200 was in 1998, we have been in this range for 13 years
[14:56] {Threei}  Chnia President Hu reiterated that China is confident in the euro and will continue to invest in Europe. Note that on July 18th, Italy's Foreign Minister said that he was speaking with China on raising investment in Italy
[14:57] {Threei}  just talks
[14:57] {Threei}  unless China is nowhere as smart as they say it is
[14:57] {RonS} sheesh, so the ft re-circulates a story from july and we get this pop?
[14:58] {Threei}  because the only thing to be confident about Europ is that it's done
[14:58] {Threei}  like a roast after 4 hours in oven
[15:00] {RonS} heard that greece will not replace the euro w/ the drachma, but instead the ouzo...because the only thing left to do will be to drink...
[15:00] {Threei}  makes sense to me
[15:03] {Threei}   guess this headline sent market down:
[15:03] {Threei}  (EU) US Treasury Sec Geithner plans to visit Poliday for a round of Eurogroup meetings on Friday
[15:03] {Threei}  thought of Timmy coming to help Europe killed last hope
[15:09] {dino} i think timmy is going to push them to open up the euro printing presses
[15:12] {Threei}  I doubt they will
[15:12] {Threei}  not because they don't want to, they do
[15:13] {Threei}  but there is no politival appetite for it among the masses, and political cohesiveness in Europe is nowhere near one in US
[15:13] {Threei}  they just won't be able to convince their respective taxpayers to go for it
[15:14] {dino} they don't need the taxpayers, just the politicians
[15:15] {dino} but again, either print or default
[15:15] {Threei}  not Europian situation
[15:15] {Threei}  politicians will be thrown out if try that
[15:16] {Threei}  a lot of opposition parties get huge mileage now by voicing disagreement with printing and bailing out
[15:16] {dino} i understand, but only two ways out imo
[15:17] {Threei}  my strong suspicion is, default it is
[15:17] {Threei}  continuous bailing out and printing requires political unity
[15:18] {Threei}  Europe has not enough of that
[15:18] {Threei}  one of the headlines overnight was:
[15:19] {Threei}  Merkel asked citizens to be patient with Greece
[15:19] {Threei}  think they will? :)
[15:19] {Threei}  or if they agree to be more ptient and require collateral etcm will Greece accept that?
[15:20] {Threei}  they are headed for series of conflicts, and it's not going to be pretty
[15:20] {dino} its an either / or. most likely greece defaults, imo markets have just about priced this in
[15:23] {nemo} no bad news tonight, think tomorrow up day
[15:23] {Threei}  well, this I've no idea how to calculate :)
[15:23] {Threei}  I mean the "market priced it in" part
[15:23] {nemo} call Magoo, he'll know how to do it
[15:24] {dino} coin toss nemo
[15:24] {nemo} what, on Magoo?
[15:24] {Threei}  magoo, maybe... he calculated once how to divide a bottle of vodka by three drinkers without measurement
[15:24] {dino} no, thats how he'd do it, a ceasars casino coin
[15:25] {nemo} dcc dino
[15:25] {Threei}  know the sound liquid makes if you turn the full bottle upside down?
[15:25] {nemo} yeah, none if it's really full
[15:25] {Threei}  well, slight incline
[15:25] {Threei}  to let the air out
[15:25] {nemo} o.k.
[15:26] {Threei}  bottle of vodka makes 21 of such sounds till empty... 7 in each glass, and you get perfetc division {G}
[15:26] {dino} lol
[15:26] {nemo} dcc again, dino, sorry
[15:28] {nemo} So. Larisa, close in the green?
[15:29] {larisa} do not care today :)
[15:29] {nemo} valium?
[15:30] {larisa} a lot
[15:30] {nemo} whites, yellows, blues, or reds?
[15:31] {dino} oh, btw. j e t s. sneaked out a victory last night
[15:31] {nemo} yeah, we talked about Romo last week, but....Burress is going to be a matchup nightmare
[15:32] {dino} looked good last night, guy is huge 6'7" i think
[15:32] {nemo} 6' 5"
[15:32] {nemo} you see him level that defensive back...ow
[15:33] {dino} yeah, some (as mr t would say) pain
[15:33] {nemo} revamped Pat's D tonight
[15:34] {dino} you should blow miami away
[15:34] {nemo} one would think, but the offensive line is iffy
[15:34] {dino} back in 15, bus stop calls
[15:34] {Threei}  so, valium explains why larisa let me get away with "panic and crash" comments today?
[15:34] {RonS} the pats better run it, elvis & austin are gonna pancake brady
[15:36] {nemo} probably running and screens early
[15:36] {nemo} get them to back off
[15:37] {nemo} Right tackle will be the rookie tonight and the right guard is great but new
[15:38] {RonS} austin is a rookie but he really already knows how to get to the qb
[15:39] {Threei}  Euro vs US Dollar Extending gains above $1.36 following financial press report of Italy-China talks on Italian govt bonds
[15:39] {Threei}  yeah, that's what theya ttribute the bounce to
[15:43] {RonS} idiot here nemo, was talkin broncos...had no idea there are two games tonight
[15:43] {RonS} ugh, raiders...
[15:44] {nemo} yeah, I was wondering
[15:51] {Threei}  hope springs eternal, eh?
[15:52] {Threei}  going green on hopes China rescues EU?
[15:52] {Threei}  lol
[15:53] {nemo} no, this is technical run to the pivot points
[15:59] {Threei}  thank you all
[16:00] {Threei}  have a good evening
[16:00] {Threei}  see you tomorrow
[16:00] {larisa} bye :)
[16:01] {patience} ty Vad