Monday, October 17, 2011

Oct 17 2011

(Participation in the room in real time requires membership)

Weird day with sudden spikes up and down with no apparent reason or technical setup. Some trades worked like charm, some rinsed us out - all in all, about flat day.

Session Time: Mon Oct 17 00:00:00 2011
[08:46] {Threei}  (GE) Germany Gov't Spokesman Siebert: "Dreams" that everything in the EU crisis will be solved next Monday "cannot be met"; search for solution to debt crisis to last into 2012
[08:46] {Threei}  - Merkel expected to make EU policy speech in parliament on Friday, Oct 21st
[08:46] {Threei}  - No meeting planned between Merkel and top bankers before Oct 23rd EU summit.
[09:08] {Threei}  rofl
[09:08] {Threei}
[09:08] {dino} gm all
[09:08] {Threei}  dino :)
[09:09] {swill} :)good morning
[09:11] {Threei}  swill :)
[09:18] {ese} morning
[09:18] {Threei}  ese :)
[09:18] {swill} morning ese
[09:19] {ese} swill
[09:19] {ese} vad
[09:25] {Threei}
[09:33] {Threei} Long Setup:  FCX  36 break half lot
[09:33] {Threei} Short Setup: FCX  .90 half lot
[09:33] {Threei}  short it is
[09:33] {Threei}  stop is self-explanatory
[09:34] {Threei}  1:1
[09:34] {dino}  gj
[09:34] {Threei}  but ask if not
[09:34] {Threei}  1:2
[09:35] {Threei}  1:3
[09:35] {Threei}  typical open break setup
[09:35] {nemo} it's at s2
[09:35] {Threei}  1"4, out
[09:37] {Threei} Long Setup:  SLW  .95 break, half lot
[09:38] {Threei}  stop under .80
[09:38] {Threei} Long Setup:  FCX  .55 break half lot
[09:39] {Threei}  if stays above .45
[09:39] {Threei}  invalidated
[09:39] {Threei}  invalidatedSLW no go
[09:39] {Threei}  ummm
[09:39] {Threei}  SLW no go
[09:42] {RonS} wow...copper from 3.44 to 3.37, oil off $1
[09:42] {Threei} Long Setup:  RIMM  .50 break half lot if holding above .40
[09:42] {Threei}  let's change to aggressive, .45 brteak
[09:43] {Threei}  very nice tight stop
[09:44] {Threei}  out
[09:48] {nemo} tarkus...must be an ELP fan
[09:49] {Threei}  watch LVS for pullback entry
[09:49] {Threei}  under 45.10
[09:49] {Threei}  still half lot
[09:50] {Threei}  no pullback
[09:51] {Threei}  was hesitanet to go for .30 break, chart is right but this volartility is rarely good for such breaks
[09:51] {RonS} cog running off bexp buyout
[09:53] {RonS} cmi gs conviction buy list
[09:53] {nemo} oh gawd...not that...
[09:55] {Threei} Short Setup: FCX  36 break
[09:55] {Threei}  35
[09:56] {Threei}  if stays under .10 for scalpers, .15 day traders
[09:58] {ese} nemo if your there.......was reading the trading log...what do you mean by the volume vaccum?   price is likely to go through it easily
[09:59] {nemo} if we get positive market movement, there aren't many sellers to provide supply that will just want to get out of their positions they've been carrying since supply, and just a little demand pushes prices up
[09:59] {ese} because there won't be any volume to stop it
[09:59] {ese} right gotcha
[10:00] {RonS} concept relates to "price has memory"
[10:00] {nemo} which is more than I can say for me
[10:00] {Threei}  lol
[10:00] {RonS} no volume, no memory
[10:00] {nemo} I program my GPS for, work, bank, liquor store
[10:01] {ese} ya....the last bottle of wine friday killed mine
[10:02] {Threei}  stop .11 for all
[10:05] {nemo} I'm liking fcx long now
[10:05] {dino} me too
[10:06] {Threei} Long Setup:  SLV  .20 break
[10:06] {Threei}  if stays above .10
[10:07] {ese} in .19
[10:08] {Threei}  target is about 34.60 for FCX if it finally works
[10:09] {Threei}  doesn't
[10:11] {ese} out 1/2....thats me at .26
[10:12] {dino} idcc sm l .01
[10:12] {dino} fcx l .10 break
[10:13] {ese} stop to .20
[10:15] {Threei}  mine is .14, SLV
[10:17] {ese}  stopped balance .20 +.01
[10:17] {ese} tks vad
[10:17] {Threei}  sure thing
[10:18] {Threei}  watch TZA for pullback entry
[10:18] {Threei}  .10 - .15 zone
[10:18] {Threei}  half lot
[10:18] {Threei}  .15 break long
[10:18] {Threei}  if holding above 38
[10:20] {ese} hmmmm missed tza
[10:21] {Threei}  gave ample time for entry...
[10:21] {Threei}  tagged 1:1
[10:21] {Threei}  stop to under .10
[10:21] {ese} ya ....watching something else
[10:21] {Threei}  out
[10:21] {ese} KMI.....and missed that as well
[10:22] {Threei}  a bit hectic morning
[10:23] {dino} ya think
[10:25] {ese} SHPGY dino
[10:26] {Threei}  not really dino
[10:26] {Threei}  {G}
[10:26] {dino} :D
[10:26] {Threei}  at least, not if I can help it
[10:28] {dino} gaps 11477, 2326, 1203
[10:32] {Threei} Long Setup:  RIMM  .80 break
[10:33] {dino} shpgy sm l .62 ave
[10:33] {Threei}  it's possible in theory to keep a stop under .75 but I'd prefer to giuve it normal range, .70
[10:33] {Threei}  anyeway, 1:1
[10:35] {Threei}  target 1:3, standard procedure
[10:36] {ese} L shpgy .47
[10:38] {dino} vmw sm l .75
[10:43] {ese} initiated buy target for vmw....$110 big ones
[10:44] {dino} shpgy stop -.30
[10:44] {Threei}  FCX refuses to drop with market
[10:44] {dino} opps that was vmw stop
[10:45] {dino} same w/slv
[10:45] {ese} target 110?
[10:46] {dino} earnings at bell i think vmw
[10:46] {RonS} yep
[10:48] {Threei} Short Setup: SLW  .40 break
[10:49] {Threei}  if stays under .50
[10:49] {nemo} careful here IWM and SPY at weekly pivot pooints
[10:52] {dino} vmw sm l .10
[10:55] {dino} vmw stop
[10:55] {dino} -.33
[10:58] {ese} L apc .68
[10:59] {ese} out 1/2 .92
[10:59] {ese} +.23
[10:59] {ese} aye chi wow wah!
[11:00] {ese} that shot up there
[11:00] {dino} gj
[11:00] {ese} out balance .83 +.15
[11:00] {ese} good nuf
[11:00] {ese} tks
[11:01] {Threei}  nice
[11:05] {ese} tks....shpgy finally moving dino
[11:08] {dino} hal?
[11:08] {dino} beats
[11:09] {RonS} but look at its run off lows
[11:09] {RonS} +$10
[11:10] {Threei} Long Setup:  TNA  41 break
[11:10] {Threei}  if stays above .85
[11:10] {dino} hmmm, chart looks up, l beak .00
[11:10] {Threei}  invalidated but keep on radar
[11:12] {RonS} tna l .80
[11:13] {Threei}  valid IMO
[11:14] {Threei}  41 break should be good
[11:14] {ese} buy some of that there TNA for me will vad.....I'll come over to your house later and pick it up....tks
[11:14] {Threei}  ron just did for both of us
[11:14] {Threei}  I'll have to send mine to patience to Caymans
[11:14] {ese} forget it in .00
[11:15] {Threei}  Ron, partial out here?
[11:15] {Threei}  use the advantage of aggressive entry
[11:15] {z} stop?
[11:16] {Threei}  under .80
[11:16] {z} ty
[11:16] {Threei}  but aggressive entry is obviously the way to go with this one, ron had the best idea how to execute it
[11:16] {Threei}  with any luck should go to 42.10
[11:17] {Threei}  41.40 sorry
[11:17] {RonS} no real idea...reaction off es fute order flow and copper going north of day's range
[11:17] {Threei}  must watch those fins I type with...
[11:17] {ese} am in sm so can let it trade for a bit
[11:18] {RonS} same here...looking for 41.20
[11:19] {Threei}  grrr
[11:20] {Threei}  not liking today very much
[11:20] {RonS} out flat
[11:25] {Threei}  friking TNA
[11:25] {Threei}  rinse
[11:31] {dino} idcc to .41
[11:35] {Threei}  (US) President Obama comments on recent jobs plan put forth by Republicans, sees potential the plan could actually cost the US jobs
[11:35] {Threei}  run into OccupyVictoria on Sat
[11:35] {Threei}  first banner I saw said: Compost capitalism
[11:35] {Threei}  I was unipmressed
[11:36] {dino} idiots
[11:36] {Threei}  by demands I've seen in the banners they carried, it seemed everyone came with his particular set of grievances
[11:36] {Threei}  from "do away with fish farms" to "no to smart meters"
[11:37] {dino} unorganized goals
[11:37] {Threei}  it actually works to their advantage
[11:37] {dino} ironically they should be protesting govt, they got us into the mess
[11:37] {Threei}  absence of clear message allows everyone pour his own meaning into that
[11:38] {Threei}  so a lot of people automatically assume that their protest is identical, andf they need to join
[11:40] {dino} out idcc .61, +.60
[11:42] {ese} gotta go out TNA .20 +.20 stop in at .85 shpgy.....cya
[11:42] {dino} cya
[11:43] {Threei}  take care ese, good job
[11:43] {swill} bye ese
[11:44] {dino} out shpgy .92, +.30 ty ese
[11:45] {nemo} gmcr
[11:47] {dino} blood
[11:48] {dino} einhorn slams gmcr
[11:49] {RonS} ...caused the selloff?
[11:50] {RonS} :)
[11:50] {dino} einhorn, big short trader
[11:50] {Threei}  look at the black banner with teal letters above the tent on the left, this is the one I saw
[11:50] {Threei}
[11:53] {nemo} people have no idea about the system about which they are complaining
[11:53] {Threei}  apparently not
[11:55] {nemo}
[11:55] {Threei}  this one looks like a secne from zombie movie
[11:55] {Threei}
[11:56] {RonS} check aapl
[11:56] {Threei}  went into red
[12:13] {dino} filled 11477
[12:15] {dino} idcc sm l .75 break
[12:30] {dino} wlt
[12:37] {dino} sm l .10
[12:41] {Threei}  SPY...
[12:41] {Threei}  breakdown of bounce
[12:41] {Threei}  or
[12:49] {Threei}  breakdown
Session Close: Mon Oct 17 12:49:22 2011

Session Start: Mon Oct 17 12:49:43 2011
Session Ident: #discussions
03[12:49] * Now talking in #discussions
[12:50] {Threei} Long Setup:  FAZ  .30 break
[12:51] {Threei}  .20 rather
[12:52] {z} holding 55?
[12:52] {Threei}  yes
[12:52] {Threei}  milk trade potential
[12:52] {Threei}  can go big
[12:53] {Threei}  plan is, first partial between .40 and .50, then riding to about .90
[13:00] {Threei}  come on FAZ
[13:00] {Threei}  let's do it
[13:00] {Threei}  1:1
[13:00] {Threei}  you can reach the stars
[13:00] {Threei}  you ARE the star
06[13:01] * Threei kicks the star in the rear
[13:01] {Threei}  if SPY loses .50...
[13:03] {Threei}  stop under .10 now
[13:07] {RonS} gj
[13:07] {Threei}  not yet... really want it to be a day-fixing trade, it has that potential
[13:07] {RonS} took .40
[13:13] {Threei}  SPY is trying to bounce
[13:13] {Threei}  really need it to lose .50
[13:13] {Threei}  then FAZ will be golden
[13:21] {z} WLT out .63, +52, thx dino
[13:21] {Threei}  ok... that was half trade
[13:21] {Threei}  oh well
[13:21] {z} that was good vad, thx, just didn't cooperate the last part
[13:21] {z} but made green
[13:21] {Threei}  yeah
[13:24] {dino} gj z
[13:36] {Threei}  here it should come
[13:37] {nemo} spy close to S3, probability says spy floor between .30-.40
[13:38] {dino} 1203 gap
[13:38] {dino} filled
[13:38] {Threei}  iksplozhion
[13:38] {dino} 2326 open on ndx
[13:38] {Threei}  don't tell me it's not a right spelling
[13:38] {Threei}  in my heart I know it is
[13:39] {Threei}  fess up, who took .50 break for round 2?
[13:39] {RonS} nope
[13:39] {nemo} too close to spy support for my liking
[13:40] {_tarkus62} ok .....made it in..good afternoon all
[13:40] {Threei}  hi tarkus
[13:40] {nemo} you must be an ELP fan
[13:40] {_tarkus62} yes
[13:41] {nemo} Karn Evil 9 1st Impression  ;)
[13:41] {_tarkus62} great stuff
[13:41] {nemo} yep...
[13:41] {nemo} saw them 4 or 5 times
[13:41] {_tarkus62} nice
[13:42] {_tarkus62} i saw them in the blizzard 0f 78
[13:42] {Threei}  look at FAZ daily
[13:42] {nemo} where?
[13:42] {Threei}  cangaroo tail
[13:42] {_tarkus62} long island nassau coll
[13:42] {nemo} I saw them in Boston Garden that year
[13:43] {_tarkus62} nice
[13:45] {dino} sohu sm l .55 hooker
[13:54] {Threei} Long Setup:  TNA  .80 break
[13:54] {Threei}  half lot
[13:55] {Threei}  if stays above .65
[13:56] {Threei}  target 40.25 - .30
[13:57] {_tarkus62} long TNA
[13:57] {nemo} go tank!!!
[13:58] {Threei}  come on SPY, bounce time
[13:58] {Threei}  hmmm
[13:58] {Threei}  out
[13:58] {Threei}  quite sudden drop, seems news caused
[13:58] {nemo} op ex week and Euro SOGOTP week
[14:03] {Threei}  drive up starts now
[14:05] {Threei}  or not
[14:05] {Threei}  churning
[14:05] {Threei}  a lot of it
[14:05] {Threei}  impossible to say which way it reolves
[14:06] {Threei}  but the longer it lasts, the higher are odds of breakdown
[14:07] {RonS} omg, dino was nailing that hooker but his stamina got the best of him
[14:13] {dino} got greedy on it, felt big move up coming, but not
[14:14] {dino} contra-hour, maybe now
[14:15] {Threei}  really can't tell
[14:16] {_tarkus62} out TNA -.05
[14:16] {_tarkus62} tuff area here
[14:16] {Threei}  yeah, churn
[14:16] {dino} tough day imo
[14:16] {Threei}  oh boy... 750 views on that post
[14:18] {Threei}  trying FAZ again
[14:19] {Threei}  half lot
[14:19] {Threei}  too uncertain
[14:19] {Threei}  stop under .35
[14:19] {Threei}  amazing, keeping almost whole day at half lot
[14:20] {Threei}  don't remember when we did that last time
[14:20] {Threei}  if ever
[14:21] {_tarkus62} half lot is how many shares threei
[14:21] {Threei}  held by fingertips
[14:21] {z} stopped
[14:21] {Threei}  that's individual
[14:21] {_tarkus62} ok
[14:21] {Threei}  each ahs his own tolerance level
[14:21] {z} huh?
[14:22] {Threei}  .35 big by EDGX, z... never went away
[14:22] {Threei}  bid
[14:22] {Threei}  you want level 2?
[14:22] {z} so we're doing it by particular route?
[14:22] {Threei}  watch
[14:22] {Threei}  huh?
[14:22] {nemo} careful with edgx, their bids and offers get stuck
[14:23] {z} it ticked .34
[14:23] {Threei}  there was a bid at .s5 that kept it
[14:23] {Threei}  .34 was a print below market
[14:23] {Threei}  didn't we discuss it last week??
[14:23] {Threei}  level 2 and T&S give you full picture
[14:24] {nemo} u can remember that far back?
[14:24] {Threei}  on micro level that is
[14:24] {z} discuss what?  when u say stop under .35 that's what i use, so whatever
[14:24] {Threei}  yes
[14:24] {z} if i see it tick under .35 i get out
[14:24] {Threei}  but it did not go undcer .35
[14:24] {z} look at the 1 min. candle chart
[14:24] {Threei}  there was OUT OF BOUNDS print
[14:25] {z} 14:20 candle
[14:25] {z} .34
[14:25] {z} low
[14:25] {Threei}  you read what I say?
[14:25] {Threei}  [14:24] {Threei} there was OUT OF BOUNDS print
[14:25] {Threei}  while if you looked at level 2, .35 bid never dave up
[14:25] {Threei}  gave
[14:25] {RonS} z, he is saying a previous trade was reported...the bid was at .35 at the time
[14:25] {z} its irrelevant now for me, im out, so good call
[14:26] {Threei}  it's very relevant.. you need right tools, and you need to use them right way
[14:26] {Threei}  otherwise your entires and exits are impacted
[14:26] {dino} lol z, right to the point
[14:27] {RonS} the problem w/ Level 2 and t&s w/ faz is that is can send you into an epileptic fit
[14:27] {dino} no sh+t
[14:27] {nemo} that reminds me, what do elephants use for vibrators...
[14:27] {nemo} epileptics
[14:27] {RonS} lol
[14:27] {Threei}  out of bounds print can be wherever... sometimes very far from real market
[14:28] {Threei}  this is why I hate automated stops btw
[14:28] {dino} happens, but when i want out i want out
[14:31] {nemo} wow tza tna at same price
[14:32] {Threei}  finally
[14:32] {Threei}  first partial out
[14:32] {RonS} time to buy both?  2 for 1?
[14:32] {Threei}  lol
[14:33] {cipher} 3i speaking of stops, what route do you use for NYSE/NAS when you want out?
[14:34] {Threei}  NASDAQ
[14:34] {dino} 2326 filled
[14:34] {cipher} I fumbled some exits today with incorrect routes
[14:35] {Threei}  make your life simple
[14:35] {Threei}  set NASDAQ once and for all
[14:35] {Threei}  make sure it's set to route out
[14:35] {Threei}  so it sweeps all others
[14:35] {Threei}  and forget the issue
[14:36] {cipher} you mean NASDAQ for both NYSE @ NAS exchanges?
[14:36] {Threei}  yes
[14:37] {cipher} ok
[14:37] {Threei}  if it's set to route out, it will hit everything and everyone
[14:37] {cipher} cool I had no idea
[14:37] {Threei}  out FAZ in full
[14:37] {Threei}  +.43
[14:38] {RonS} gj
[14:38] {Threei}  ty
[14:38] {_tarkus62} wtg
[14:38] {cipher} good call
[14:46] {nemo} the paint dry yet?
[14:47] {Threei}  not all of it
[14:49] {nemo} db spy,
[14:53] {nemo} clear as mud
[14:53] {Threei}  still feels like breakdown to me
[14:54] {Threei}  I mean next breakdown
[14:54] {Threei}  but becomes even harder to read
[14:54] {Threei}  this kind of relentless slow selling days often end with sharp spike
[14:54] {Threei}  eaitng about half of the day range in 10-15 minutes
[14:59] {Threei}  in fact, starts looking like just this is about to happen
[15:06] {nemo} spy reacted to iwm again...IWM and spy bottomed .08 above IWM's S3
[15:09] {Threei}  TNA pullback to .60 area for long entry
[15:12] {Threei}  didn't reach it
[15:15] {Threei}  (FR) France PM Fillon: France will not let any of its banks fail; EMU will not allow Greece to fail
[15:15] {Threei}  sigh
[15:16] {dino}  that should spike us up
[15:17] {Threei}  not fresh
[15:17] {dino} oh, then why post?
[15:17] {Threei}  ok, withdrawing it
[15:17] {dino} lol
[15:17] {Threei}  :)
[15:18] {Threei}  it's just continuation of a long line of messages with deep rooted denial
[15:18] {Threei} Long Setup:  FCX  .50 break
[15:19] {Threei}  if stays above .40
[15:19] {Threei}  still valid
[15:24] {Threei}  i=obviously not anymore
[15:24] {nemo} it's a precious Steinway!
[15:24] {Threei}  hmm?
[15:25] {nemo} Pink Panther movie...That is a precious Steinway!   Not anymore
[15:25] {nemo} great scene
[15:29] {Threei}  (US) Quarterly earnings reports from three of top four biggest US lenders suggest the improvement in mortgage delinquencies may be abating - FT- Says JPMorgan, Wells Fargo, and Citi earnings demonstrate that record low mortgage rates and loan modification programs are not helping to ease delinquencies.
[15:33] {dino} volume drying up? scanners are slow
[15:34] {nemo} spy T$S actually stopped earlier today...I thought I died
[15:35] {RonS} wlt circuit halt
[15:36] {dino} why?
[15:36] {RonS} probably bunny giving you a mammie yokum evil eye...
[15:37] {nemo} she's been quiet today, was quite active last night...crawled up into my boxspring and was filing her teeth on the springs
[15:37] {nemo} it's an interesting sound
[15:42] {Threei}  weird day
[15:45] {dino} wlt spike
[15:45] {dino} ve5ry weird
[15:45] {dino} very
[15:45] {Threei}  wow
[15:46] {dino} like they wanted to kill them but couldn't finish the job
[15:49] {dino} whippy
[15:49] {Threei}  amazing
[15:50] {Threei}  you see this kind of two-sided spikes after FOMC decision
[15:50] {dino} things are trading gappy
[15:50] {Threei}  here they come with no news whatsoever
[15:50] {Threei}  shiws you how nervous market is
[15:50] {dino} ax murderer market
[15:51] {_tarkus62} lol
[15:51] {_tarkus62} it is
[15:51] {dino} mike meyers/so i married ax murderer, "un-trusting"
[15:51] {nemo} it slices, it dices, it cubes....!!!!
[15:52] {dino} lol
[15:54] {Threei}  ominous finish
[15:59] {dino} fugly finish
[16:00] {Threei}  totally
[16:00] {Threei}  gravity takes over
[16:00] {Threei}  Ok guys, thanbk you all
[16:00] {Threei}  have a good evening, see yopu tomorrow
[16:01] {larisa} bye :)
[16:02] {swill} thanks