Tuesday, November 8, 2011

Nov 08 2011

(Participation in the room in real time requires membership)

Boring but nicely profitable day. A few trades worked for cool 1:3, plus couple scalps here and there. Not much action though. So, in case you missed it, read this article I've written while waiting for another play to come along (which it did).

Session Time: Tue Nov 08 00:00:00 2011
[08:32] {Threei}  good morning
[08:32] {Threei}  I hate time change
[08:33] {patience} me too
[08:35] {Threei}  any chance we could enciurage OWS vrowd to take on this issue? Before they dissolve for the winter would be nice of tghem to solve something useful
[08:58] {dino} gm all
[08:59] {Threei}  dino :)
[08:59] {swill} :)morning
[08:59] {Threei}  swill :)
[09:00] {swill} Vad, could you please remind me of what type one is?
[09:01] {Threei}  ?
[09:01] {Threei}  sorry, don't understand
[09:01] {swill} is it a full lot for a scalp?
[09:02] {Threei}  oh, scalp type 1
[09:02] {swill} y
[09:02] {Threei}  big shares, small movements
[09:02] {Threei}  ese's favorite...
[09:02] {swill} thank you sir
[09:02] {Threei}  grab 3-5K shares for 5 cents
[09:02] {swill} ah
[09:02] {Threei}  get out with a few hundred bucks
[09:03] {swill} I like
[09:03] {Threei}  forget all about it in a few seconds
[09:03] {Threei}  works only on stocks with high liquidity
[09:03] {Threei}  never ever try anything like this on stocks with wider spreads and smaller sizes shown on level 2
[09:04] {swill} got cha
[09:15] {Threei}  TM... tough quarter
[09:19] {Threei}  so far, morning shapes up as complacent "let's buy things, it'll be OK"
[09:20] {Threei}  ese will be happy with SLW he took home
[09:20] {dino}   that dog
[09:20] {Threei}  we can always try and get patience throw rocks at his windows...
[09:22] {patience} yup, that's how i make friends
[09:22] {jakob} good morning
[09:22] {Threei}  jakob :)
[09:22] {ese} gm
[09:22] {RonS} hello all
[09:22] {Threei}  ese, ron :)
[09:22] {Threei}  we won't tell him it was you, patience
[09:22] {Threei}  just enjoy that satisfying sound of glass breaking
[09:23] {Threei}  oh, hi ese
[09:23] {ese} I am indeed happy with slw this morning
[09:23] {patience} me too   :)
[09:23] {Threei}  thought so :)
[09:23] {Threei}  fess up, how mcuh are you up on SLW
[09:24] {Threei}  in cents, not in real money :)
[09:25] {dino} gaps above 12231, 2401, 1285
[09:25] {ese} bought 3 3/4 lots yesterday averaged out at .65
[09:25] {Threei}  about 70 cents then... on big shares
[09:25] {Threei}  nice
[09:26] {ese} yup
[09:26] {Threei}  wtg
[09:26] {Threei}  don't forget to deposit my % in my mailbox when driving by
[09:27] {ese} will do chief
[09:28] {Threei}  reminder, any FCX call during first 15 min or so is half lot
[09:29] {Threei}  (GE) IIF Chief Economist: Germany needs to accept "collectivization" of resources if the euro zone is to survive- Believes it is possible that Germany will "blink last," causing the collapse of the euro zone.
[09:30] {RonS} Italian borrowing costs touch a new record high
[09:30] {ese} out 2/3 slw .22
[09:30] {ese} +.57
[09:30] {dino} gj
[09:31] {thomcbell} LVS RED
[09:31] {Threei} Short Setup: RIMM  .65 break
[09:31] {Threei}  if stays under .75
[09:34] {Threei} Short Setup: FCX  .70 break
[09:34] {Threei}  if stays under .80
[09:34] {Threei}  target 1:3
[09:35] {Threei}  unless you are a scalper in which case you couldn't give a sneeze about my targets
[09:35] {Threei}  1:1
[09:35] {Threei}  half out .56
[09:35] {ese} out balance slw .26 +.61
[09:35] {Threei}  1:2
[09:36] {ese} whoa....just in time too
[09:36] {dino} gj fcx
[09:36] {Threei}  stop .61
[09:36] {Threei}  tightening
[09:36] {Threei}  RIMM invalidated
[09:37] {Threei}  to .51
[09:37] {Threei}  oh whatever
[09:37] {Threei}  out .44
[09:37] {Threei}  why do fight for last couple cents
[09:38] {Threei} Short Setup: LVS  .95 break
[09:38] {Threei}  if stays under .05
[09:39] {Threei}  invalidated
[09:40] {Threei} Short Setup: TM  64 break small shares
[09:40] {Threei}  if stays under .20
[09:41] {pragmatic} tm ?
[09:41] {pragmatic} ah ok
[09:41] {Threei}  ?
[09:43] {Threei} Long Setup:  SLW  37 break
[09:43] {Threei}  that was frakishly fast
[09:43] {Threei}  1:1
[09:43] {Threei}  TM no go
[09:45] {Threei}  1:3
[09:50] {dino} dish s .00
[09:50] {Threei}  something to have in mind:
[09:50] {Threei}  (IT) Italy Parliament resumes debate on Budget bill- Vote expected now around 11:00 ET (16:00 GMT)
[09:52] {RonS} xide sm l .15
[09:52] {dino} cov .93, +.07
[09:52] {Threei} Short Setup: RIMM  .90 break
[09:52] {Threei}  if stays under .95 for scalpers, 19 day traders
[09:53] {Threei}  invalidated
[09:54] {Threei} Long Setup:  LLY  .45 break
[09:54] {Threei}  if stays above .35
[09:55] {Threei} Long Setup:  BHP  .90 break half lot
[09:55] {Threei}  if stays above .75
[09:57] {Threei}  80 break should send it flying
[09:58] {Threei}  let's trail to under .80 meanwhile
[09:59] {Threei}  LLY 1:1
[09:59] {Threei}  BHP 1:1
[10:05] {Threei}  RF interesting chart, just not my cup of tea
[10:05] {dino} out bhp +.07, out lly +.16
[10:05] {dino} ty
[10:05] {Threei}  :)
[10:06] {Threei}  notice something guys
[10:06] {Threei}  a lot of small stocks are running
[10:06] {Threei}  not really a good sign for the bull market
[10:07] {thomcbell} very nice VAD - LLY
[10:08] {Threei}  over 1:2
[10:08] {Threei}  easy money, never even tried to pull back
[10:08] {Threei}  just as we like'em
[10:09] {thomcbell} chart really shapes up on daily time frame
[10:10] {dino} break of s1
[10:10] {Threei}  another interesting cheapie, SMT
[10:10] {thomcbell} lvs nasty
[10:10] {thomcbell} slw short VAD?
[10:11] {dino} 07 red
[10:11] {Threei}  need bounce or consolidation, thimc
[10:11] {Threei}  not shorting into such drop
[10:13] {thomcbell} lly a beast VAD
[10:13] {Threei}  1:3... me out
[10:14] {thomcbell} big settlement this thing might have room
[10:15] {Threei}  be thankful nemo is not here... what you just did is called "thinking"... and a mortal sin in his book
[10:16] {dino} was that fundamental talk tbell? not allowed
[10:16] {dino} :D
[10:16] {Threei}  really... next thing we know someone starts ready... financial statements... gasp
[10:16] {Threei}  reading
[10:22] {dino} stx l .70
[10:24] {RonS} careful dino...report competing thai plants coming bck on line faster than prev thought
[10:24] {dino} ty
[10:26] {dino} stop -.08
[10:28] {RonS} amln sm l .40
[10:30] {dino} stx rinsed
[10:33] {RonS} ha, exdi fundamental...5.66/book per sh
[10:33] {RonS} guess its a bank...
[10:34] {RonS} out amln -.15
[10:35] {Threei}  (IT) Rumors of LCH.Clearnet margin hike on Italian debt continue to circulate after Parliamentary vote shows Berlusconi no longer has majority suppor
[10:35] {Threei}  t**REMINDER from overnight: (IT) FT comments on recent concerns that margin calls could be raised for Italian bonds. Says that LCH Clearnet generally raises margin requirements when the spread over a triple A basket (which includes French bonds) exceeds 450bps. On Monday's session, the spread between the Italian 10-yr bond and the triple A basket was about 420bps.
[10:36] {dino} ctrp sm l .01
[10:36] {dino} nihd sm l .39
[10:37] {dino} nxpi l .82
[10:41] {dino} keyn sm l .00, gappy
[10:46] {Threei}  lol, funniest quote of the day
[10:46] {Threei}  maybe ECB is using drachmas to buy Italian bonds
[10:47] {Threei}  ok... maybe I need to look up "funny"...
[10:48] {Threei}  nope... still funny... something must be wrong with me
[10:51] {dino} nxpi stop -.08
[10:54] {dino} ctrp stop -.13
[10:55] {Threei}  (GR) Greece Central bank reports Sept bank emergency liquidity assistance: �26.6B v �6.4B m/m
[10:55] {dino} rinsed again
[10:57] {Threei}  (IT) Italy Defense Minister La Russa: Options on a way forward for the Govt will be decided within the next few hours: PM Berlusconi must consult with the President after today's vote
[11:13] {Threei} Short Setup: RIMM  .60 break
[11:13] {Threei}  if stays under .70
[11:18] {thomcbell} LVS 46.88 short Vad?
[11:19] {Threei}  wow... long way from there
[11:19] {Threei}  impossible to say without knowing how it gets there
[11:20] {Threei}  if it drops to that support in one long bar with big volume, would you short it?
[11:20] {Threei}  vs it coming to that support slowly, then consolidating close to it and only then breaking?
[11:20] {Threei}  see what I mean?
[11:22] {Threei}  LOL... Those who believe in telekinetics, raise my hand
[11:22] {thomcbell} yes
[11:22] {Threei}  in that formation, I'd rather go for aggressive entry
[11:23] {Threei}  like 47.05 break
[11:23] {Threei}  that would work nicely
[11:25] {patience} .
[11:26] {Threei}  let's trail RIMM to .66
[11:26] {Threei}  my confidence in this setup diminishes rapidly
[11:27] {dino}   i'm out
[11:27] {dino} nvda l .74
[11:28] {Threei}  sure enough, LVS tunred a trap
[11:28] {dino} wtw heavy
[11:29] {Threei}  well
[11:29] {Threei}  lol
[11:29] {Threei}  meaning, they are not doing very good job
[11:29] {dino} sm l .84
[11:30] {RonS} nxpi sm l .62
[11:33] {dino} out wtw .44, +.60
[11:34] {RonS} gj
[11:35] {RonS} wac sm l .05
[11:36] {dino} gj wac
[11:44] {Threei}  things are frozen
[11:47] {dino} hitk sm l .02
[11:56] {dino}  fcx strong last couple days
[11:57] {Threei}  (IT) Italy opposition parties are said to be preparing a vote on a motion of no confidence, as expected, if PM Berlusconi refuses to step down - financial press
[11:57] {Threei}  neverending saga
[11:58] {Threei}  don't give up Berlusconi... fight for your right to throw bunga bunga parties
[11:58] {Threei}  it's unalienable human right of any PM
[12:01] {RonS} ...and sanctioned by the almighty when you invite the pope
[12:01] {Threei}  I guess
[12:04] {dino} syna drop
[12:04] {dino} too fast
[12:05] {ese} was fun watchin....catch ya tomorrow
[12:05] {RonS} out xide .135  +.04 ave  ese size but too thick now...
[12:05] {RonS} got no news
[12:05] {RonS} cya ese
[12:05] {Threei}  take care ese
[12:08] {dino} cya ese
[12:09] {RonS} out nvda .88 +.11  tough little bastard...
[12:11] {dino} yeah, still in here, gj
[12:19] {dino} slw l .01
[12:19] {thomcbell} cup and handle lly?
[12:20] {Threei}  even cup with two handles
[12:20] {Threei}  11:50 is not a beginning of a handle, it's a beginning of a handl;e to the bigger cup
[12:21] {Threei}  then another started at about 12:10 :)
[12:21] {Threei}  sorry, correction:
[12:21] {thomcbell} tu
[12:21] {Threei}  11:50 is not a beginning of a cup, it's a beginning of a handle to the bigger cup
[12:44] {dino}   out keyn .40, +.40
[12:44] {Threei}  while market is sleeping..
[12:45] {Threei}  http://blog.realitytrader.com/2011/11/simplicity-why-dont-we-appreciate-it.html
[12:45] {RonS} gj
[13:02] {Threei}  OK, you can wake up and tell me whether that article rings any truth
[13:04] {swill} I'll gladly agree
[13:04] {Threei}  ty
[13:05] {swill} the truth will out
[13:05] {Threei}  which reminds me...
[13:05] {Threei}  we were told only half of it. Yeah, truth will set you free - but it will piss you off first
[13:06] {swill} true again
[13:07] {dino} out slw .14, +.13
[13:08] {RonS} gj lone ranger...
[13:09] {dino} lol
[13:10] {RonS} 'supposed to say...thanks tonto...
[13:10] {dino} ty
[13:11] {dino} tonto
[13:13] {dino} out nvda .83, +.09
[13:13] {RonS} go get 'em kimosabe'...
[13:13] {dino} ta da dump
[13:14] {RonS} lol...ok...it's official...i'm bored which means something big about to happen
[13:23] {dino}  zzzzzzzzzzzzzzzzzzzzzzzzzzzzz
[13:24] {patience} i knew it was just a matter of time
[13:25] {patience} my puppy has a new, large bone which he was throwing up in the air and then catching
[13:25] {patience} threw it across the room and took out the laptop
[13:26] {dino} lol
[13:39] {dino} chk l .54
[13:39] {dino} csh sm l .70
[13:48] {dino} out chk .74, +.20
[13:48] {dino} out nihd .59, +.20
[13:49] {Threei}  nice
[13:49] {dino} ty
[13:49] {Threei}  (IT) Italy PM Berlusconi said to have told President Napolitano he will resign after parliament passes austerity bill - finanical press
[13:49] {Threei}  that's what pushed market up
[13:49] {dino} out hitk .31 ave, +.31
[13:57] {Threei}  lol
[13:57] {Threei}  Berlusconi's ouster means Risk-On - for both stocks AND continental call girls
[13:57] {dino} lol
[14:00] {dino} out csh .98, +.28
[14:03] {dino} tstc drop
[14:10] {Threei} Long Setup:  LLY  .90 break if stays above .80
[14:30] {Threei}  (IA) White House: Likely to consider more sanctions on Iran following the release of the latest IAEA report on Iran's nuclear weapons operations
[14:30] {Threei}  nnnoooo... even more sanctions??
[14:30] {Threei}  that's so cruel
[14:34] {dino} and we are pulling out of iraq just as iran gets the bomb
[14:35] {Threei}  rudderless...
06[14:35] * Threei kicks LLY in the rear
[14:38] {Threei}  out
[14:38] {Threei}  close enough to 1:1
[14:38] {Threei}  no need to oversit one's welcome
[14:38] {Threei}  who knows what Berlusconi and Greek one do next minute
[14:40] {Threei}  I mean these guys have no concept of what can be done and said when and where... see latest twist with Sarkozy/Obama exchange anout Netanyahu
[14:40] {Threei}  you'd think politicans of this rank understand that mikes are never off, right?
[15:22] {Threei}  Election 2012: Generic Republican 46%, Obama 42%
[15:22] {Threei}  see?
[15:31] {Threei}  anyone's awake?
[15:32] {swill} I'll check
[15:33] {Threei}  do share results
[15:33] {patience} yup
[15:33] {Threei}  2
[15:38] {swill} a learning day
[15:38] {Threei}  hey, still profitable
[15:38] {Threei}  where else do you get paid for learning?
[15:38] {swill} lol
[15:38] {RonS} THE BREAK-UP IS OFFICIAL: Berlusconi Posts His Resignation On Facebook
[15:46] {patience} thanks vad, see you tomorrow
[15:47] {Threei}  thank you all
[15:47] {Threei}  a bit boring day
[15:47] {swill} thank you
[15:48] {Threei}  but I'll tarde excitement for profit any day
[15:48] {Threei}  and will see excitement after the market hours
[15:48] {Threei}  have a great evening
[15:48] {Threei}  see you tomorrow
[15:52] {dino}    thx all, overall a good day, appreciate the ideas
[15:58] {dino} loop spike
[15:59] {dino} 2401 filled
[16:02] {Threei}  WTW
[16:02] {Threei}  mama