Thursday, October 27, 2011

Oct 27 2011

(Participation in the room in real time requires membership)

7 calls, 6 wins - not bad, right? But here is the curious thing: on what probably is the strongest day for the markets this year, all 7 plays were on a short side. We day traders weird creatures.

Session Time: Thu Oct 27 00:00:00 2011
[08:31] {Threei}  *(US) INITIAL JOBLESS CLAIMS: 402K V 401KE;
[08:31] {Threei}  GDP 2.5% in line
[09:10] {Threei}  everyone's asleep after yesterday?
[09:12] {ese} gm
[09:13] {larisa} gm :)
[09:14] {ese} morning laris
[09:14] {larisa} ese :)
[09:16] {thomcbell} isn't the world a nice place
[09:17] {Threei}  ese, larisa, thom :)
[09:17] {Threei}  why, it sure is
[09:21] {nemo} well, no tree sitting in the rain
[09:22] {Threei}  sorry
[09:22] {Threei}  but hey,
[09:22] {Threei}  you get to hang out with us
[09:22] {Threei}  and vice versa
[09:23] {Threei}
[09:25] {dino} gm all
[09:25] {Threei}  dino :)
[09:25] {RonS} hello everyone
[09:26] {Threei}  ron :)
[09:26] {dino} nemo, are you trading for yourself or sombody else now that you passed the test?
[09:26] {Threei}  want to skip first few minutes, to let the market work out first hectic movements,
[09:26] {Threei}  then look for setups, thinking short side
[09:27] {patience} good morning
[09:27] {Threei}  patience :)
[09:29] {Threei}  FCX is getting anead of itself
[09:30] {dino} heck of agap left behind
[09:31] {Threei}  no kidding
[09:31] {Threei}  RIMM sharp drop
[09:31] {dino} especailly ndx
[09:31] {Threei}  bounce into .40 - .50 area for shorting
[09:31] {dino} 66 pts
[09:31] {Threei}  FCX, prepare smallish shares
[09:32] {Threei}  too fast...
[09:32] {Threei}  had .10 break in mind
[09:34] {Threei}  RIMM is almost getting there
[09:35] {Threei}  sharp break, no chance for entry
[09:36] {Threei} Short Setup: FCX  .60 break half lot
[09:37] {Threei}  stop above .75
[09:37] {Threei}  target 42.20
[09:38] {Threei}  1:1
[09:39] {Threei}  stop for the balance to .65
[09:39] {Threei}  to .61
[09:39] {Threei}  1:2
[09:39] {Threei}  to .55
[09:41] {Threei} Short Setup: RIMM  .20 break
[09:42] {Threei}  1:1
[09:42] {dino} cov fcx .30, +.30 ty vad
[09:42] {Threei}  :)
[09:43] {Threei}  FCX target hit, out
[09:44] {dino} cov rimm .12, +.08
[09:44] {dino} ty vad
[09:44] {Threei}  welcome sir
[09:44] {Threei}  let's go home?
[09:45] {dino} not yet
[09:46] {Threei}  then SLW short is next
[09:46] {Threei} Short Setup: SLW  .20 break
[09:47] {Threei}  stop above .30
[09:48] {Threei}  no go
[09:50] {Threei}  RIMM agan
[09:50] {Threei} Short Setup: RIMM  .35 break
[09:50] {Threei}  if stays under .45
[09:53] {Threei}  target .15
[09:53] {Threei} Short Setup: FCX  42 break half lot
[09:54] {Threei}  invalidated
[09:54] {Threei}  but on radar for reestablishing
[09:55] {Threei}  valid again
[09:56] {ese} anyone checked out BMC.....dino......was tanked for no good reason
[09:57] {dino} cov rimm .20, +.04
[09:57] {Threei}  let's trail timm to .41
[09:57] {Threei}  was 1 cent to 1:1
[09:57] {dino} will do ese, was playing vad as not my type of market
[09:58] {Threei}  1:1
[09:58] {Threei}  half out, stop to .36
[09:58] {dino} bunch of mark guts bmc
[09:58] {dino} cuts
[09:58] {RonS} got rimm .35 to .18  ty
[09:58] {Threei}  target hit
[09:58] {Threei}  :)
[09:58] {dino} gj rimm vad i was too tight
[09:59] {ese} ya target price deal........
[09:59] {Threei}  wow RIMM
[09:59] {Threei}  had more in it
[09:59] {dino} fcx target?
[09:59] {Threei}  FCX 1:1
[10:00] {Threei}  1:2 is target
[10:00] {dino} ese bmc, lets see re-test hold
[10:00] {Threei}  hmmm
[10:00] {Threei}  maybe more FCX
[10:00] {dino} 07 solid red
[10:00] {Threei}  *(US) SEPT PENDING HOME SALES M/M: -4.6% V 0.3%E; Y/Y: 7.9% V 11.8%E
[10:00] {Threei}  because of this horrific crap
[10:01] {Threei}  awwww RIMMMMMM
[10:01] {dino} regn
[10:01] {Threei}  strong case of scalper's regret
[10:02] {ese} lookin at that
[10:02] {Threei}  FCX stop for the balance to .01
[10:04] {Threei}  1:2
[10:05] {Threei}  should have more in it
[10:07] {Threei}  stop to .95
[10:08] {Threei}  to .91
[10:08] {dino} 07 all red
[10:09] {dino} cov fcx .90, +.09
[10:09] {Threei}  out last piece FCX
[10:09] {Threei}  4 out of 5
[10:09] {Threei}  all are shorts
[10:10] {Threei}  day traders are weird creatures
[10:10] {Threei}  almost like green men from Mars
[10:10] {ese} gj dino
[10:10] {Threei}  except patience and larisa who are blue women from Venus
[10:11] {ese} thats my style......short and too the point
[10:11] {ese} BMC approaching .00
[10:11] {dino} mdr sm l .52
[10:13] {Threei}  RIMM actually went red
[10:13] {patience} blue?  nope, gold and silver, my favs  :),     in slw 34.10 btw
[10:13] {dino} lol
[10:14] {ese} L MYL 1/2 .23
[10:14] {dino} out mdr .80, +.28
[10:15] {dino} hgr sm l .00
[10:15] {Threei}  nice
[10:15] {dino} thx
[10:16] {ese} ya good one
[10:16] {dino} figured i'd give first half hour to you boss
[10:16] {Threei}  that may be too much for me
[10:17] {Threei}  but I am flattered nonetheless {G}
[10:17] {Threei}  (just trying to bargain for the timing of the next "can I go home?" question)
[10:18] {Threei}  gosh... look at RIMM daily
[10:18] {ese} crap missed BMC
[10:18] {Threei}  memories of PALM
[10:19] {ese} " feelings..........nothing more than Feelings......."
[10:19] {nemo} It's more than a feeling....
[10:20] {ese} out MYL .20 -.03.........doing nothing for me
[10:20] {Threei}  whatcha talking about guys?
[10:21] {Threei}  who is feeling what?
[10:21] {dino} songs
[10:21] {Threei}  oh... I don't do those
[10:21] {Threei}  nor dances
[10:21] {ese} lol
[10:22] {dino} so you're more like phil collins "i can't dance"
[10:22] {ese} thats ok talent in other dance around a barbecue great
[10:22] {ese} you have
[10:23] {Threei}  just as ese... I once as much as hummed 5 seconds tune in presence of his group, they had to call paramedics and rescucite three of them
[10:23] {Threei}  just ask
[10:23] {dino} afraid to
[10:23] {dino} :D
[10:24] {ese} lol
[10:25] {dino} \bmc hl l .25
[10:25] {dino} things getting pulp-like
[10:26] {dino} bmc that is
[10:27] {dino} all red
[10:28] {dino} out bmc .50, +.25
[10:29] {Threei}  how about this real time demonstration of the major tape reading principle
[10:29] {Threei}  For three weeks market was discounting this EU news; when news finally came, crowd jumped in creating this enormous gap;
[10:29] {Threei}  Smart Money that bought earlier dumps their holdings now into crowd's hands, and market goes down on great news. Textbook study.
[10:30] {dino} madness of crowds
[10:31] {ese} good one with BMC dino.......ticks me off that i missed that
[10:36] {Threei}  RIMM starts getting this ominous look of "short wherever and don't be ain rush to cover"
[10:39] {nemo} iwm spy looking weak
[10:41] {nemo} having said that .96 vwap iwm 127.28 vwap spy
[10:41] {thomcbell} cvh?
[10:44] {patience} half out slw
[10:45] {Threei}  don't see any clear play on it here, thomc
[10:51] {dino} cvh all i see is up on takeover rumors yesterday
[10:51] {dino} gut feel short it, as weak in strong market
[10:51] {ese} L MWW 1/2 .24
[10:53] {thomcbell} cvh downgraded at Bernstein pre-open
[10:55] {RonS} Avon Products Under Investigation for Potentially Violating Bribery Laws
[10:56] {Threei}  they refused to take bribe?
[10:56] {Threei}  or to give?
[10:56] {dino} is that all the investigation is?
[10:57] {Threei}  my perception may be clouded by Soviet experience here you'd get investigated unless bribed investigatiors
[10:58] {Threei}  so refusal to give a bribe was in fact violation
[10:58] {RonS} Avon mis-execution across mkts = hugely under-performing global beauty. More SEC investigations. Why is CEO around after lost decade?
[11:04] {patience} out other half of slw, need to go for a run
[11:04] {Threei}  RIMM comes to a resistance at .80
[11:05] {Threei}  not sujre break or reversal, watching
[11:09] {ese} mww moving at a snails pace ....but moving
[11:10] {dino} cern hl l .98
[11:11] {dino} out .38, +.40
[11:11] {Threei}  wtg
[11:14] {dino} ty pulp
[11:14] {Threei}  pulp it is
[11:14] {dino} qsii all over the place
[11:14] {Threei}  that's what pulp does :)
[11:14] {dino} nihd hl l .50
[11:16] {dino} wow cern went a buck
[11:16] {Threei} Short Setup: EIX  .05 break
[11:16] {Threei}  if stays under .10
[11:17] {Threei}  ridiculously tight stop
[11:17] {Threei}  just a scalp most likely, to cover somewhere under 41
[11:18] {Threei}  RIMM elected to break .80... not sure if there is play here somewhere
[11:20] {Threei}  interesting... Italian bonds didn't really show any considerable positive reaction
[11:20] {Threei}  bond players don't believe the crisis is resolved or what? :)
[11:21] {RonS} to the rimm break?
[11:21] {Threei}  EIX, feel free to cover as you see fit, just a scalp
[11:21] {dino} out nihd .78, +.28
[11:23] {Threei}  out EIX
[11:23] {Threei}  guys, I have to leave for an hour or so, wife car's windshield needs to be replaced
[11:24] {nemo} why'd she push your head through it?
[11:24] {Threei}  let it be our family secret
[11:24] {nemo} ahhh
[11:25] {Threei}  I mean, yes, but that's not the reason... she does that regularly and never did it lead to glass breaking
[11:25] {Threei}  nice EIX
[11:25] {Threei}  with 5 out of 6, I think you can let me go for an hour
[11:25] {Threei}  be back soon
[11:27] {dino} gj 3i
[11:30] {cipher} eix .80 l
[11:32] {ese} out mww.43 +.19
[11:32] {dino} gj
[11:33] {ese} L symc .33
[11:35] {RonS} watching bmc for a turn
[11:37] {ese} symc just like the old days 5k
[11:37] {ese} out 1/2 .41 +.08
[11:37] {RonS} ye old ese size
[11:38] {RonS} olde
[11:38] {ese} yup
[11:38] {RonS} bmc l .32
[11:38] {ese} gut feeling here
[11:38] {dino} wtg
[11:39] {ese} stop to .35 balance
[11:40] {ese} lets just see what happens shall we
[11:43] {ese} out .45 balance +.12     2 /1/2k
[11:43] {ese} good for me.....gotta go cya all tomorrow...choir show today
[11:43] {RonS} cya ese wtg
[11:44] {ese} tks
[11:44] {ese} nice work if you can get it
[11:44] {dino} cya ses gj
[11:44] {RonS} lol
[11:48] {cipher} out eix be
[11:50] {dino} lol ese i mean
[12:08] {cipher} s iex .73
[12:09] {RonS} out bmc .69  +.37
[12:09] {RonS} dang it...
[12:09] {RonS} unreal
[12:09] {RonS} wanted .86
[12:10] {cipher} out -.11
[12:11] {RonS} market order for 80k
[12:14] {dino} gj
[12:14] {RonS} thing popped .20 w/in 1 sec after exit...had order to sell .86...i'm pissed
[12:15] {dino} hate when that happens
[12:16] {RonS} took +.13 on hgr...thing was boring me to death...thanks
[12:18] {dino} gj, i should've, had .19 but greed
[12:19] {RonS} ya, when it rolled from there i just bailed..
[12:22] {dino} mmm, meatloaf sandwich, the most under-rated sandwich out there
[12:34] {dino} out hgr .20, +.20
[12:39] {Threei}  back
[12:39] {Threei}  what did I miss?
[12:39] {RonS} dino making money...imagine that!...
[12:40] {Threei}  huh
[12:40] {Threei}  that's new
[12:46] {RonS} i knew that stuff was bs...:  New Study Finds Influenza Vaccine is Only 1.5% Effective; Not 60% As We Have Been Told
[12:47] {RonS} free to start, now koolaid for money...
[12:49] {RonS} got nothing to do?  watch mf for volume run or crash...
[12:50] {RonS} mf sm l .64  s/l .59
[12:55] {dino} wtf hgr goes to .20 drops to .09 goes to .44
[12:57] {dino} nihd app lod
[12:58] {dino} hl l .17
[12:59] {Threei}  lol
[12:59] {Threei}  (EU) ECB's Noyer: Markets appear to believe euro zone plan is adequate - financial press interview
[12:59] {Threei}  Noyer, to the side: can you believe this??
[13:00] {dino} roflol, after one day all is well
[13:00] {Threei}  market doesn't believe anything, Noyer - market sees money poured in and reacts accordingly
[13:01] {Threei}  no immediate collaspe and new injections ahead - why wouldn't market go up
[13:01] {Threei}  doesn't mean anyone believes that solution is found
[13:01] {Threei}  or even possible
[13:06] {dino} out nihd .43, +.26
[13:08] {RonS} out mf .60 -.04
[13:09] {RonS} Fitch downgrades $MF.
[13:10] {Threei}  well, with that name, wouldn't you
[13:10] {RonS} lol
[13:12] {dino} nihd spikes after i sell
[13:19] {RonS} qsii sm l .60
[13:20] {Threei}  market went into slow creep-up mode
[13:20] {Threei}  not my environment
[13:25] {patience} my type   :)
[13:26] {Threei}  great, you drive
[13:26] {patience} better yet, Westjet blue tag specials coming up in 25 minutes.  i am booking somewhere warm.
[13:54] {RonS} qsii stop .20
[14:05] {RonS} qsii stop .35
[14:08] {RonS} out qs11 40.10  +1.50
[14:08] {RonS} qsii
[14:08] {dino}  wtfg
[14:08] {RonS} ty
[14:09] {RonS} and thanks to nemo...
[14:12] {Threei}  nice one
[14:41] {RonS} lol...Sarkozy Says Was An 'Error' To Admit Greece To Euro In 2001
[14:42] {dino}  lol
[14:42] {dino} expensive error at that
[14:42] {Threei}  rofl
[14:52] {Threei}  OK, whose gut says what about last hour?
[14:52] {Threei}  profit taking or new march up?
[14:52] {patience} new march up
[14:52] {patience} not that i think it is warranted
[14:53] {Threei}  btw patience
[14:53] {patience} y
[14:53] {Threei}  you know that according to our local paper, you "grow thin"?
[14:53] {Threei}  Occupy Victoria protesters remain in square as patience grows thin
[14:53] {Threei}  Read more:
[14:53] {patience} if you believe that, i have a great piece of property going up in value in greece if you want it
[14:54] {patience} oh, funny
[14:54] {dino} down to close around +225
[15:06] {Threei}  (EU) Some ECB members commentary in light of Euro zone agreement suggests possibility of maintained emergency measures due to slight skepticism of recent agreement - financial presss
[15:09] {RonS} ya mean the band of thieves may have lied to each other?
[15:09] {Threei}  noooo
[15:09] {RonS} gambling in this establishment...shocking...
[15:09] {Threei}  it can't be
[15:09] {Threei}  tell me it's not so... my world is crashing all around me
[15:12] {RonS} funny how the "fisheads & rice" labor market in thailand doesn't look so cheap anymore
[15:14] {RonS} look cstr
[15:15] {RonS} Studios considering 60-day delay on $NFLX and $CSTR to boost movie sales
[15:15] {Threei}  yeah
[15:15] {Threei}  saw that news
[15:20] {RonS} optioons education anyone?  the new insider frontier...look at mrvl call 14 3x the OI w/ earnings and options that expire tomorrow
[15:20] {Threei}  not me, sorry
[15:21] {dino} seems my 225 call is not happening
[15:21] {RonS} let's see how this turns out and how much these bandits steal...w/ no worries about the sec
[15:23] {Threei}  +400
[15:23] {Threei}  sheesh
[15:24] {nemo} we'll probably get to 131.50 tomorrow, and then new highs next week
[15:24] {nemo} earnings aren't bad, economy is expanding, there's nowhere to go in bonds, money will continue into equities
[15:25] {nemo} that is, unless Europe has further structural issues that come to the forefront
[15:27] {dino} if this was -400 everybody would be complaining about the shorts
[15:28] {nemo} and HFT
[15:28] {dino} yes
[15:29] {dino} i have ndx yearly high of 2417
[15:34] {dino} gotta hop, maybe back for close
[15:34] {dino} thx for some great ideas today, good deay overall
[15:35] {dino} day
[15:35] {RonS} cya dino
[15:36] {Threei}  take care dino
[15:47] {Threei} Short Setup: FCX  .85 break half lot
[15:48] {Threei}  stop above .95
[15:48] {Threei}  1;1
[15:49] {Threei}  1:2
[15:49] {Threei}  out
[15:49] {Threei}  6 for 7
[15:49] {Threei}  what else does one want from life
[15:49] {RonS} gj
[15:49] {Threei}  thank you all, have a great evening
[15:50] {dino}  hmmm dropped 100 while out
[15:50] {nemo} a trading firm
[15:50] {Threei}  see you tomorrow
[15:50] {dino} cool nemo, gl to you
[15:50] {patience} ty vad