Tuesday, November 15, 2011

Nov 15 2011

(Participation in the room in real time requires membership)

Shaky start to the day, then three back-to-back wins put it firmly in profitable territory. One made catch of the day, textbook double top:

Session Time: Tue Nov 15 00:00:00 2011
[08:30] {dino} gm all
[08:37] {Threei}  morning dino
[08:57] {Threei}  wow... I just realized all this "greece this, Italy that" conrinues for 2 years already
[08:58] {dino} and most likely another two
[08:58] {Threei}  can't be... should resolve sooner
[08:58] {Threei}  bond market won't tolerate this degree of uncertainty for that long
[09:04] {swill} :)morning
[09:06] {Threei}  swill :)
[09:11] {RonS} gm...for those w/ the time...link is to the nat geo 2011 photo winners...all interesting, some stunning:  http://tinyurl.com/bvq2sbj
[09:11] {Threei}  Ron :)
[09:13] {Threei}  lemme share my yesterday's session
[09:14] {Threei}  http://photography.realitytrader.com/2011/11/mount-doug.html
[09:15] {Threei}  oh, and Raven, do I have a video for you
[09:15] {Threei}  http://www.youtube.com/watch?feature=player_embedded&v=Z0w9q125TSI
[09:17] {Threei}  quite amazing shots from ngeo ron, thanks
[09:18] {RonS} ...thought you might like them
[09:18] {RonS} :)
[09:20] {swill} nice shots as well Vad
[09:21] {Threei}  ty... not quite NGEO level but I'll settle for now... :)
[09:22] {swill} well I don't have ngeo on my desk top, but yours
[09:22] {Threei}  I am flattered
[09:23] {jakob} good morning
[09:23] {Threei}  jakob :)
[09:26] {Threei}  trying to determine what we want to do first thing
[09:27] {dino} how about make money
[09:27] {Threei}  good idea
[09:30] {Threei} Long Setup:  SLW  .60 break
[09:32] {Threei}  goes to 1:1 and back to trigger faster than I can comment
[09:33] {Threei} Long Setup:  FCX  .15 break half lot
[09:33] {Threei}  if stays above .05
[09:33] {Threei}  invalidated
[09:33] {Threei}  .10 break instead
[09:34] {Threei}  if stays above 39
[09:35] {Threei}  target .35
[09:35] {Threei}  1;1
[09:36] {Threei}  1:2
[09:36] {Threei}  stop for the balance to b/e
[09:36] {Threei}  target hiy
[09:36] {Threei}  hit
[09:37] {dino} out fcx .35, ty vad
[09:37] {Threei}  :)
[09:37] {Threei}  had also LVS .10 on radar but it jumped over trigger
[09:38] {swill} any news?
[09:38] {Threei} Short Setup: FCX  .30 break
[09:38] {Threei}  no
[09:39] {Threei}  if stays under .40
[09:39] {Threei}  still half lot
[09:39] {Threei}  target .10 - .15
[09:39] {Threei} Short Setup: SLW  .50 break
[09:39] {Threei}  if stays under .60
[09:40] {nemo} I'm so depressed...
[09:40] {Threei}  who isn't
[09:40] {nemo} I haven't had a chance to kill anything
[09:40] {Threei}  SLW is double sided
[09:40] {Threei}  I am really sorry nemo...
[09:41] {Threei}  going a day without killing bami... must be awful
[09:41] {nemo} yeah...bunny is starting to look tempting
[09:41] {Threei}  lol
[09:41] {nemo} she bites though
[09:41] {nemo} little rabbits have big teeth
[09:41] {Threei}  FCX no go
[09:43] {Threei}  SLW target 1:2
[09:43] {Threei}  SPY at resistance, let's sell half SLW here
[09:44] {Threei}  and stop to .55
[09:44] {Threei}  break of .70 should skyrocket it
[09:44] {Threei}  there
[09:45] {dino} out slw .79, +.18 ty vad
[09:45] {Threei}  1:2
[09:45] {Threei}  out in full
[09:45] {Threei}  welcome
[09:45] {patience} good frosty morning
[09:46] {dino} now a frosty mug would be good
[09:46] {Threei}  patience :)
[09:46] {dino} turnaround tuesday
[09:47] {Threei} Long Setup:  LVS  .50 break
[09:47] {Threei}  stop under .40
[09:47] {Threei}  target .80
[09:48] {Threei}  no worky
[09:49] {Threei}  Italian bonds near 7 again
[09:51] {Threei}  rinse
[09:51] {Threei}  grrr
[09:53] {Threei} Long Setup:  RIMM  .70 break
[09:53] {Threei}  stop under .60
[09:55] {Threei}  should be good for about 1:2
[09:56] {Threei}  let's trail to .64
[09:59] {Threei} Long Setup:  SLW  .65
[09:59] {Threei}  if hokding .55
[09:59] {Threei}  out RIMM
[09:59] {Threei}  SLW 1:1
[10:05] {Threei} Long Setup:  LVS  .20 break
[10:06] {Threei}  half out
[10:06] {Threei}  stop .14
[10:07] {Threei}  stop .18
[10:10] {dino} sohu sm l .25 gappy
[10:16] {Threei} Short Setup: FCX  .10 break
[10:16] {Threei}  stop above .20
[10:17] {Threei}  aggressive entry for 39
[10:18] {RonS} dmnd sm l .18  53% float short
[10:18] {dino} pega sm l .60 thin
[10:20] {dino} sohu stop
[10:24] {dino} sohu bouncing all over, vsm l .10
[10:24] {RonS} ...from ryan baird...Italy downgrade rumors... you've been warned
[10:25] {nemo} frickin' guineas
[10:25] {dino} shocking
[10:25] {Threei}  Euro vs US Dollar (IT) Vague chatter circulates of potential European sovereign downgrade- Italy again mention as a potential candidate for a sovereign downgrade
[10:26] {Threei} Long Setup:  LVS  .20 break
[10:26] {Threei}  just a scalp target this time
[10:29] {Threei}  let's scratch it
[10:29] {Threei}  no determination
[10:34] {Threei}  well, tis one worked
[10:34] {Threei}  go figure
[10:34] {thomcbell} everything dangerously thin
[10:35] {Threei}  like walking on eggs
[10:35] {thomcbell} i have been making decent money during first 30 minutes - and would do much better if i turned machine off at 10:15
[10:38] {swill} need to take short leave
[10:38] {Threei}  let's adjust them, thomL
[10:38] {Threei}  trade full lot during first 30 min,
[10:38] {Threei}  then either switch to half or even to paper
[10:38] {Threei}  and try to catch the moment whe things change
[10:39] {Threei}  and you start make profits after that time,
[10:39] {Threei}  then switch backl to real money
[10:39] {Threei}  this way you achieve two things
[10:39] {Threei}  stay away from action while it's not working
[10:39] {Threei}  and continue monitoring things to be ready when market changes
[10:41] {thomcbell} thnks vad
[10:41] {dino} tbell fwiw i'm making most of my $ after 1:30 lately
[10:42] {dino} 3i 9:30-10:00 helps me
[10:43] {dino} idcc spike
[10:45] {dino} sm s .00
[10:46] {dino} bstop .22
[10:46] {dino} stop too soon
[10:46] {Threei}  FCX
[10:46] {Threei}  .50 breaj
[10:46] {Threei}  C&H
[10:47] {Threei}  if stays above .40
[10:47] {dino} idcc big rinse
[10:47] {Threei}  sigh
[10:48] {Threei}  things start looking too random
[10:58] {Threei}  (US) Fed's Williams: Failure for the US to reach a fiscal agreement may lead to chaos - Q&A
[10:58] {Threei}  - Sees certain advantages to having Fannie and Freddie; but public policy goals should not encourage the maximization of home ownership
[10:58] {Threei}  - Short term budget cuts could harm the economy
[10:58] {Threei}  - Stimulus is required until 2013 due to lack of lending
[10:59] {dino} i don't know, starting to think the only way we get cuts is by no agreement and then automatic cuts across everything
[10:59] {Threei} Short Setup: LVS  .20 b reak
[11:00] {Threei}  it was hard to envision them agreeing on cuts easy
[11:00] {Threei}  too different ideological positions
[11:00] {nemo} yup...and then, that's only until they can legislate them back in.  BFD anyway, they're looking for what? 3T?  With a yearly deficit of 1.4T
[11:00] {nemo} pissin' in the wind
[11:00] {dino} agree
[11:01] {nemo} about the only way we get cuts is if a cruise missile hits the capital during the state of the union address
[11:01] {Threei}  LVS invalidated
[11:01] {dino} csh sm l .40
[11:06] {RonS} comment that at least nemo will appreciate:  Evans so dovish I saw him in a Prince video
[11:07] {Threei}  lol
[11:10] {Threei} Short Setup: FCX  .20 break
[11:11] {Threei}  if stays under .30 of course
[11:12] {Threei}  yeah right
[11:19] {Threei}  disorderly up and down with no apparent reason, either in news or chart
[11:20] {Threei}  very listless trading last few days
[11:20] {Threei}  probably reflects the state of general confusion and fear
[11:20] {Threei}  walking on eggshells
[11:20] {dino} out pega -.10
[11:20] {Threei}  once things resolve and direction appears, our big days will be back
[11:21] {Threei}  for now, have to stay nimble
[11:21] {patience} tough for my trading style, although i am in tza today
[11:21] {Threei}  look at FCX
[11:21] {Threei}  sudden 30 cents move up,
[11:21] {Threei}  nothing in the chart giving slightest clue about it coming,
[11:22] {Threei}  then back down same amount, and again, no read at all
[11:22] {Threei}  did Buffet buy or short IBM?
[11:23] {Threei}  'cause looking at it today, you'd think he said "get the heck out everryone"
[11:24] {dino} bought
[11:24] {Threei}  I know :)
[11:25] {RonS} ...cut out their tongues?:  EU considers banning ratings of sovereign debt
[11:26] {Threei}  hehe
[11:26] {dino} roflol
[11:26] {RonS} if i was sp..."no more ratings...it's all crap!!!"
[11:26] {dino} like its the ratings agencys' fault
[11:26] {Threei}  in theor eyes, it is
[11:27] {dino} they've been cytting them a break by not downgrading months ago
[11:27] {Threei}  because, you now, there is no crisis of debt - it's all about confidence
[11:27] {dino} cutting
[11:28] {Threei}  ok, let's try to readjust to this type of movement
[11:28] {Threei}  FCX,
[11:28] {Threei}  lewt' it go over .40,
[11:28] {Threei}  then short recross back down if stays under .50
[11:30] {Threei}  nah... l,ost .30 instead
[11:33] {Threei}  nice drop
[11:33] {Threei}  .30 reak was valid setup, but so many of them get whipsawed lately, I was really hesitant
[11:34] {Threei}  so, if this is new pattern, then we should get a bounce now, and after going above .20, lost of it should be a short trigger
[11:36] {Threei}  when you gave time, great analysis
[11:36] {Threei}  http://goo.gl/K45IV
[11:40] {Threei}  lwet's see
[11:40] {Threei}  -w
[11:40] {Threei}  FCX spiked into resistance
[11:41] {RonS} thanks...stratfor the best imo...
[11:48] {dino} dasrn partials, dds sm partial l .30
[11:48] {dino} darn
[11:52] {RonS} lol...It's so cute how all the little reporters are running around Zuccotti Park like it's Beirut, then they hit Starbucks on the way uptown
[11:53] {RonS} "Ooooh, look at me, in my Banana Republic flack jacket livetweeting the uprising - I'm like Geraldo!"
[11:54] {Threei}  took .17 short
[11:54] {Threei}  stop wbove .20
[11:54] {Threei}  big risk
[11:58] {Threei}  hwey, I have 1:1
[11:58] {Threei}  even more
[11:59] {Threei}  that was all I could have
[11:59] {Threei}  (US) House Minority Leader Hoyer (D-MD): Expects the super committee to get a deal done; democrats likely to support the deal
[12:00] {Threei}  really?
[12:00] {Threei}  this crap catapults the market?
[12:00] {Threei}  have a look at volume:
[12:00] {Threei}  NYSE volume 255M shares, about 45% below its three-month average; decliners lead advancers by 2.5:1. - NASDAQ volume 635M shares, about 28% below its three-month average; decliners lead advancers by 1.9:1.
[12:01] {RonS} hey if an unnamed greek socialist party member can do it, why not denny hoyer?
[12:11] {dino} out csh .82, +.42
[12:11] {RonS} gj
[12:12] {dino} coo drop]
[12:17] {dino} vsm .17
[12:23] {dino} stop
[12:24] {Threei}  amazingly, Nov feels like August
[12:25] {Threei}  I don't remember trading being this meek at this time
[12:25] {Threei}  a lot of spooked players
[12:27] {dino} out dds .19, +.89
[12:29] {dino} coo vsm l .00
[12:37] {dino} no go
[12:41] {Threei} Short Setup: FCX  .70 break
[12:41] {Threei}  if stays under .80
[12:44] {Threei}  time to roll over, SPY
[12:47] {dino} last try coo vsm l .00
[12:47] {Threei}  1:1
[12:53] {Threei}  1:2 baby
[12:54] {Threei}  finally getting them right
[13:00] {Threei}  http://goo.gl/ohsv0
[13:07] {Threei}  I understand you all are asleep, but... anyone took that beautiful FCX?
[13:08] {Threei}  even in your sleep?
[13:11] {nemo} no
[13:11] {nemo} but then again, I don't have an account right now
[13:12] {swill} I just got a piece of it
[13:13] {Threei}  better than poke in the eye, hey
[13:14] {swill} lol
[13:14] {Threei}  it's just the cleanniness of the setup that delivered joy
[13:14] {Threei}  all the elements in place, textbook
[13:16] {swill} is it a trend reversal
[13:16] {Threei}  yes, double top
[13:16] {Threei}  http://goo.gl/ohsv0
[13:56] {swill} .
[13:59] {Threei}  and your point is?...
[14:00] {swill} just wanted to see if I was alive
[14:00] {Threei}  and?
[14:00] {swill} lol
[14:00] {Threei}  I am usually scared to do tis kind of investigations
[14:00] {Threei}  not sure I want to know the answer {G}
[14:01] {swill} thats funny
[14:02] {swill} I need to go driving in 15 mins
[14:04] {dino} drivers exam
[14:04] {swill} no, drive the wife from work to work
[14:05] {RonS} ah, driving ms daisy...
[14:05] {swill} exactly
[14:12] {Threei} Long Setup:  FCX  .80 break
[14:17] {swill} bye for now. see ya tomarrow
[14:18] {RonS} cvx blood on spill news
[14:18] {Threei}  take care swill
[14:18] {RonS} cya swill
[14:18] {Threei}  FCX invalidated
[14:19] {RonS} rig too...
[14:21] {dino} cvx drop
[14:22] {RonS} 12:18  RonS  cvx blood on spill news
[14:23] {dino} ahhh, missed that
[14:23] {RonS} that's ok dave...
[14:24] {RonS} :D
[14:24] {dino} wow, didn't expect that
[14:25] {RonS} wow rig
[14:30] {dino} bp issues
[14:31] {Threei}  let the games begin:
[14:31] {Threei}  Tuesday, November 15, 2011 14:18:54 (US) Senate Majority Leader Reid (D-NV): Have yet to see indications that Republicans have agreed to a balanced agreement on deficit reduction
[14:31] {Threei}  - Reminder: Earlier the House Minority Leader Hoyer (D-MD) commented that he expects the super committee to get a deal done; with democrats likely to support the deal
[14:31] {Threei}  (US) Senator McConnell: Still awaiting counter offer from Democrats
[14:33] {dino} he said she said high school crap
[14:34] {RonS} clh spkie on cvx probs
[14:34] {RonS} spike
[14:35] {RonS} dis what the heck...
[14:37] {RonS} ...tower of bs...:  In a deal that could further blur the line between advertising and blogs, Walt Disney Co (DIS:$36.82,00$0.7000,1.94%) is buying Babble Media Inc., whose website carries news for parents and blogs written by moms and dads.
[14:38] {RonS} nemo needs to crank one for bunny owners...
[14:40] {RonS} compare teef sizes, etc...
[14:41] {RonS} ...could be called "kickin it"...
[14:41] {Threei}  lol
[14:41] {dino} lol
[14:43] {dino} clh sm s .99
[14:47] {dino} stop -.21
[14:57] {dino} another rinse
[15:00] {Threei} Long Setup:  FCX  .80 break
[15:01] {Threei}  if stsys above .70
[15:05] {Threei}  takes too long... this type of breaks should work faster
[15:05] {Threei}  let's trail to .74
[15:12] {thomcbell} slw 35.51 Vad?
[15:12] {Threei}  I thnk so
[15:14] {Threei}  volume is practically at par with yesterday's
[15:15] {thomcbell} lvs mildly interesting 48.01 too
[15:18] {dino} coo
[15:19] {Threei}  SPY looks rather weakening
[15:21] {dino} at hod
[15:21] {RonS} start spreadin the news...Mayor Bloomberg: Zuccotti Park now open for weddings and Bar Mitzvahs
[15:25] {Threei}  finally new high FCX
[15:27] {Threei}  1:1
[15:29] {Threei}  SLW 1:1
[15:29] {Threei}  whew
[15:29] {Threei}  these three back-to-back wins cement the day as positive
[15:31] {dino} gj
[15:47] {RonS} been going on for decades...and now?...Sens. Scott Brown, R-Mass., and Kirsten Gillibrand, D-N.Y., today are introducing the Stop Trading on Congressional Knowledge (STOCK) Act of 2011
[15:47] {dino}  how big of them
[15:47] {Threei}  good luck
[15:48] {RonS} makes you pine for a joe mccarthy to go on a witchunt
[15:49] {RonS} ...and start with the first witch...nancy pelosi
[15:50] {dino} think you mean b#tch
[15:53] {dino} cfx spike
[15:55] {Threei}  thank you all, have a good evening
[15:55] {Threei}  see you tomorrow
[15:57] {dino} can't borrow
[15:57] {dino} take care vad
[15:59] {dino} holding coo overnight, ave 55