Tuesday, December 27, 2011

Dec 27 2011

New course on chart pattern recognition is available now: http://www.realitytrader.com/111trades.html

100% winning and very boring day. Light holiday trading is still here (duh) but somehow the percentage of wins today was way beyond expected.

Session Time: Tue Dec 27 00:00:00 2011
[09:21] {JK13} gm everyone
[09:21] {Threei}  Good morning
[09:22] {Threei}  how was the weekend?
[09:22] {JK13} Very busy and lots of food
[09:22] {JK13} how about yours?
[09:22] {Threei}  holiday of expanding waistlines, eh?
[09:22] {Threei}  same
[09:23] {Threei}  in a week I'll have to go on pure protein for a month or so, lol
[09:24] {JK13} very easy - do not eat for a week
[09:24] {JK13}  just water an oatmeal
[09:24] {Threei}  haha
[09:32] {Threei} Short Setup: FCX  .20 break half lot
[09:32] {Threei}  if stays under .30 of course
[09:33] {Threei}  convincingly invalidated
[09:34] {Threei} Short Setup: RIMM  .90 break
[09:36] {Threei}  let's see if we can find FCX entry into bounce
[09:36] {Threei}  if goes above .30, short recross with stop above .40
[09:37] {Threei}  .20 short remains an option if consolidates or a min or two under .30
[09:38] {Threei}  also, let's make RIMM two-sided seup with long trigger .95 break
[09:40] {Threei}  OK FCX
[09:40] {Threei}  .30 break short
[09:41] {Threei}  RIMM half out
[09:41] {Threei}  scalpers be happy
[09:41] {Threei}  FCX another invalidation
[09:41] {Threei}  so far things shape up for long trades
[09:42] {Threei}  SLW looks quite weird though
[09:44] {Threei} Long Setup:  FCX  .40 break half lot
[09:44] {Threei}  if stays above .30
[09:45] {Threei}  aggressive entry for .45 trigger
[09:45] {Threei}  changing to double bottom play
[09:45] {Threei}  .30 break if holding above .20
[09:47] {Threei}  target 1:2
[09:49] {thomcbell} aapl is abeast
[09:49] {Threei}  trail stop to .24
[09:50] {Threei}  1:1
[09:50] {Threei}  sheesh AAPL
[09:50] {Threei}  rumors about Apple TV in early 2012
[09:53] {Threei}  scalpers win on FCX
[09:55] {Threei} Long Setup:  LVS  .65 break
[09:56] {Threei}  if stays above .55
[09:56] {Threei}  invalidated, and let's wait out numbers at 10 now
[09:57] {Threei}  - 10:00 (US) Dec Consumer Confidence: 58.0e v 56.0 prior
[09:57] {thomcbell} ups / fdx complex strong after initial weakness
[09:58] {Threei}  - 10:00 (US) Dec Richmond Fed Manufacturing Index: 5.0e v 0.0 (flat) prior
[09:58] {Threei}  wow FCX
[09:58] {Threei}  that's much deeper dive than I expected
[10:00] {Threei}  *(US) DEC CONSUMER CONFIDENCE: 64.5 V 58.6E
[10:01] {Threei}  conflicting numbers
[10:01] {Threei}  market is confused
[10:01] {Threei}  go up, go down or shrug and go eat
[10:02] {Threei}  really indecisive
[10:05] {Threei} Short Setup: FCX  .10 break
[10:05] {Threei}  if doesn't go over .20 anymore
[10:07] {Threei}  if SPY break .80 will probably invalidate this play
[10:11] {Threei}  1:1
[10:12] {Threei}  anyone is breathing?
[10:15] {Threei}  probably not
[10:17] {cc_8} breathing here
[10:17] {Threei}  cool
[10:19] {Threei}  (US) Treasury forecasts debt to be within $100B of limit by the end of the week; Congress must take action on debt limit- Notes that President is now due to submit ceritfication to Congress for decision within 15 days - Debt limit will be automatically increased by $1.2T if congress chooses not to vote down the certification
[10:20] {Threei}  endless saga
[10:20] {Threei}  good boy FCX
[10:20] {Threei}  out in full
[10:20] {Threei}  1:2
[10:21] {Threei}  3 for 3, or my math is wrong?
[10:22] {thomcbell} slw short entry after consolidation possibly
[10:23] {Threei}  29 trigger?
[10:23] {thomcbell} yes
[10:23] {Threei}  me likey
[10:24] {thomcbell} u had one stop on fcx - 38.40 buy got stopped at 38.24
[10:24] {thomcbell} ;
[10:24] {thomcbell} ;(
[10:24] {thomcbell} 3-4
[10:24] {Threei}  hmm?
[10:25] {Threei}  that one was reca,librated for lower entry after invalidation
[10:25] {Threei}  09:45] {Threei} changing to double bottom play
[10:25] {Threei}  [09:45] {Threei} .30 break if holding above .20
[10:26] {Threei}  is it right, or I confuses something?
[10:27] {Threei}  RIMM had much more in it
[10:29] {JK13} hard to believe
[10:29] {Threei}  no kidding... I wouldn't feel comfortable holding it
[10:32] {thomcbell} i missed it and was stopped - boo
[10:32] {thomcbell} 3-3 for Vad
[10:32] {thomcbell} 0-1 Thomc
[10:32] {Threei}  :(
[10:33] {Threei}  if you see inval;idation, we most often cancel the play or look for different entry
[10:35] {rambler} goodmorning all
[10:35] {Threei}  rambler!
[10:36] {Threei}  welcome back
[10:36] {rambler} how goes the battle?
[10:36] {Threei}  good so far
[10:36] {Threei}  very thin holiday trading, pickings are slim
[10:36] {Threei}  but we squeeze all we can out of it
[10:36] {rambler} good to finally get back at it....
[10:37] {dino} welcome back rambler
[10:37] {rambler} thanks Dino
[10:37] {Threei}  hey dino
[10:37] {Threei}  sneaked in quietly, lol
[10:38] {dino} yeah, running late, r.e. things again
[10:40] {Threei} Short Setup: FCX  .85 break
[10:41] {Threei}  stop above .95 of course
[10:43] {Threei}  trail stop to .91
[10:43] {Threei}  if SPY loses .60, we will be fine
[10:45] {Threei}  here we go
[10:45] {Threei}  1:1
[10:45] {Threei}  if partialing, half out and stop to .86
[10:45] {Threei}  if scalping never mind me
[10:45] {Threei}  (which you all do anyway)
[10:52] {thomcbell} slw 1:1
[10:53] {Threei}  nice one
[10:54] {Threei}  good find
[10:54] {Threei}  thin or not, running at 100% so far today
[10:57] {Threei}  chart is right from 111 trades course
[10:58] {Threei}  which reminds me, 50% coupon runs out Dec 31
[10:58] {Threei}  30% for BVO guys too
[11:00] {thomcbell} where do I find the coupon
[11:00] {Threei}  just a sec, I'll post it
[11:00] {thomcbell} I i covered 1/3 slw in this stall at 1:1
[11:02] {Threei}  room members 50% ...........
[11:02] {Threei}  BVO members 30 % ...........
[11:06] {thomcbell} FDX looks like a Dino entry
[11:06] {thomcbell} rinse down near support
[11:07] {dino} break of .65 sm l
[11:11] {Threei}  SHLD, what a broken chart
[11:12] {cipher} dino fdx target?
[11:13] {dino} .03
[11:13] {cipher} out 1/2 +.20 thx
[11:14] {Threei}  nice
[11:14] {dino} gj
[11:15] {Threei}  folks who are still on holidays won't believe what we squeezed out of today
[11:15] {cipher} out in full +.29
[11:15] {thomcbell} slw 29.01 trailed stop here
[11:15] {Threei}  Ron, is airing his grievances on this festivus day... ese is lazying it up somewhere up island... etc
[11:16] {dino} out .03, +.37
[11:16] {thomcbell} now dino would be out fdx
[11:16] {Threei}  exactly target... nice one dino
[11:16] {cipher} wtg dino
[11:16] {dino} ty for heads up tbell
[11:16] {rambler} FDX...a thing of beauty...wtg
[11:17] {thomcbell} your welcome
[11:17] {cipher} thx thomcbell
[11:18] {cipher} s fdx .13
[11:19] {cipher} out +.13
[11:19] {thomcbell} beautiful cipher
[11:19] {cipher} got lucky shorted right before size showed up on ask
[11:20] {cipher} no guts to overstay this one
[11:30] {thomcbell} cleaning up slw here
[11:30] {thomcbell} no edge
[11:34] {Threei}  I didn't really look into it... anyone paid attention to SHLD? is it general economy weakness, or someone eats their lunch?
[11:35] {Threei}  Sears Domestic's quarter-to-date sales decline was primarily driven by the consumer electronics and home appliance categories, with more than half of the decline in Sears Domestic occurring in consumer electronics.
[11:38] {dino} someone eats their lunch.
[11:38] {Threei}  any idea who?
[11:40] {dino} best buy, walmart, etc
[11:40] {dino} home dept on appliances
[11:40] {Threei}  wow, really
[11:43] {Threei}  as miserable as Fri volume was, today's so far on track to be even less, lol
[11:43] {dino} scanners dead
[12:02] {Threei}  watching TNA for pullback entry
[12:02] {Threei}  half lot
[12:02] {Threei}  under .60
[12:03] {Threei}  lol:
[12:05] {cc_8} lol
[12:10] {Threei}  no pullback
[12:10] {Threei}  (US) President Obama to name two candidates to fill Federal Reserve board vacancies later today - financial press- Said to have selected former Bush Administration Treasury official Jerome Powell and Harvard professor Jeremy Stein.
[12:13] {Threei}  what would we do without harvard professors running monetary policy
[12:13] {JK13} have more money
[12:13] {Threei}  what a horrible concept eh
[12:14] {JK13} quintessence of life  I guess :)
[12:14] {Threei}  at least, life as seen from high above
[12:15] {Threei}  where we are ants whose task is to sit down, shut up and eat whateer crumbles drop from the mountain top
[12:16] {JK13} any courses for alpinisme ?
[12:16] {Threei}  lol
[12:17] {Threei}  no, but dino's theory of picking up the money rolls you trip of while walking down the street fist
[12:17] {Threei}  fits
[12:18] {Threei}  Obama 47%, Gingrich 37%
[12:18] {Threei}  I guess that sums it up... Romhey it is
[12:18] {Threei}  Romney
[12:18] {JK13} horizontal alpinizm then. I like that as well
[12:19] {Threei}  just need to deal with friction... if not for that, crawling would be favorite way to move around
[12:20] {Threei}  easy to fall asleep wherever you feel like it, just stop moving
[12:24] {Threei} Long Setup:  TZA  .50 break
[12:24] {Threei}  if stays above .45
[12:27] {Threei}  recalibrate to .40 break
[12:28] {Threei}  .34 stop, just a scalp most likely
[12:33] {Threei}  half out .47; if scalping get out here
[12:43] {thomcbell} nke chart on daily very impressive
[12:51] {Threei}  feel free to exit TZA in full here
[12:51] {Threei}  I am out +.12
[13:56] {Threei}  Research in Motion Ltd CNBC guest making positive comments; cites potential as takeover target given its patent portfolio
[14:22] {JK13} .
[14:29] {rambler} hey Vad,gotta run.Good first day back. Thanks all....
[14:29] {rambler} see you tomorrow
[14:29] {Threei}  take care rambler
[14:34] {Threei}  thomc, look dcc pls
[15:28] {Threei}  the only trade I'd try today:
[15:28] {Threei} Short Setup: SLW  .80 break
[15:29] {Threei}  the thing is unusually weak, and there is a good chance for eod selloff
[15:45] {Threei}  doesn't look like it's going to trigger
[15:46] {dino} calling it a day, gn all
[15:47] {Threei}  take care dino
[15:47] {Threei}  OK guys, let's call it aa day... a very good one if you are willing to sit through traditional afternoon boredom
[15:48] {Threei}  thank you all, have a good evening
[15:48] {Threei}  see you tomorrow
[15:50] {JK13} gn and thanks Vad