Tuesday, January 10, 2012

Jan 10 2012

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

Another day requiring patience but paying off in fair profits. Boring too - which is a good thing as far as I am concerned.

Session Time: Tue Jan 10 00:00:00 2012
[09:04] {JK13} good morning
[09:04] {Threei}  good morning JK
[09:07] {dino} gm
[09:08] {Threei}  dino :)
[09:09] {rambler} morning....
[09:10] {Threei}  rambler :)
[09:14] {RonS} gm everyone...did you hear?
[09:14] {RonS} ...the gulf oil spill is gone...
[09:14] {Threei}  morning ron... no, 'fraid not
[09:14] {Threei}  all of it?
[09:15] {RonS} yes...57 species of microbes ate it
[09:15] {Threei}  how nice for them
[09:15] {Beau} good morning
[09:15] {Threei}  beau :)
[09:15] {Threei}  so, why did we send that guy, what'shisname, to Siberia?
[09:16] {Threei}  BP's CEO
[09:17] {RonS} bigger q...why is the gulf closed for drilling...
[09:17] {RonS} and in the you can't make this stuff up category
[09:18] {Threei}  oh wait... now I remember
[09:18] {Threei}  bwcause he said "I want my life back"
[09:19] {RonS} the ucsb researchers, my alma mater fwiw, who identified the why's of the spill elimination...
[09:19] {Threei}  and we live in the world where PR, impressions and words are more important that facts and deeds
[09:19] {RonS} concluded that the oil companies should be required to use them to determine spill effects before drilling
[09:20] {Threei}  use who? microbes?
[09:20] {Threei}  or researchers?
[09:22] {RonS} researchers to model drill locations
[09:22] {Threei}  ah
[09:23] {Threei}  well... can you blame them
[09:24] {Threei}  I too determined that a few global funds would do well using me before investing in european debt... did it do much good for me?
[09:25] {RonS} well, all that typing caused you to get a nem keyboard...
[09:25] {RonS} :)
[09:25] {RonS} new
[09:26] {ese} morning
[09:27] {Threei}  well, you are more or less OK while your keys lose all the markeings on them... but when you scrap away keys themselves and practically type by touching naked wires by your fingertips, it's probably time to get a new one...
[09:27] {Threei}  ese :)
[09:28] {Threei}  gap up which starts fading away a little...
[09:28] {ese} whats wrong with your keyboard vad?
[09:29] {Threei}  I suspect I have a sandpaper on my fingertips... :)
[09:29] {Threei}  let's wait out first spike and try to find a short entry, most likely for a scalp or 1:2 max
[09:29] {Threei}  then will see what shapes up
[09:30] {Threei} Short Setup: FCX  .65 break half lot
[09:30] {Threei}  stop above .75
[09:32] {Threei}  nope
[09:35] {Threei} Long Setup:  TZA  .24 break
[09:36] {Threei}  if stays above .90
[09:36] {Threei}  target 1:2
[09:39] {Threei}  1:1, half out
[09:39] {Threei}  scalpers be happy
[09:39] {dino} fcx s .49
[09:41] {Threei}  here comes my 1:2
[09:41] {Threei}  out
[09:41] {dino} cov fcx .32, +.17
[09:41] {Threei}  wtg'
[09:42] {dino} ty
[09:42] {ese} L crus .18
[09:43] {JK13} tks Vad TZA 1:1/5 :)
[09:43] {Threei}  :)
[09:43] {Threei} Long Setup:  LVS  .30 break
[09:44] {Threei}  change to .25 break
[09:44] {Threei}  stop under .20
[09:44] {Threei}  1:1
[09:44] {Threei}  1:2
[09:44] {Threei}  feel free to scalp
[09:45] {Threei}  easy money
[09:45] {Threei}  a bit too easy
[09:45] {thomcbell} very nice Vad
[09:46] {cipher} cat strong today
[09:46] {Threei}  ty
[09:46] {Threei} Long Setup:  X  .55 break half lot
[09:47] {Threei}  if stays above .45
[09:47] {dino} gsk l .12
[09:47] {Threei}  vhange to .50 break
[09:48] {Threei}  change
[09:48] {ese} 1/2 out. 44 +.16....stop to break even balance
[09:48] {Threei}  stop .43
[09:49] {Threei}  target .70, two partials
[09:49] {dino} odd mkt going up 07 red
[09:50] {ese} out balance crus .65 +.47
[09:50] {dino} gj
[09:50] {Threei}  wtg ese
[09:50] {Threei}  very nice one
[09:50] {dino} 07 green
[09:50] {ese} good enough.....tks
[09:51] {Threei}  X is a nailbiter
[09:51] {dino} ese, small size?
[09:51] {ese} needed that cause i'm outta here early today......another show to do this morning with my choir
[09:51] {ese} 800 shs dino....went 4 and 4
[09:52] {dino} thx, gj
[09:53] {ese} taken something like that on a gap up is a bit of a gamble as you know......couldn't justify pulling the trigger on 1K
[09:53] {ese} 800 i could live with if it went against me
[09:54] {dino} was watching it, sudden drop so figured smaller
[09:54] {ese} yup
[09:54] {Threei}  X stop
[09:55] {ese} for a bit there it looked like the spyders were gonna kill me
[09:55] {dino} y
[09:55] {ese} in hind sight I probably should have waited for that higher low....would have been a safer bet
[09:56] {dino} what do you make of sig?
[09:57] {Threei} Short Setup: LVS  .10 break
[09:58] {ese} any news on it?   thats right up your alley...your the pro there
[09:58] {Threei}  if stays under .20
[09:58] {Threei}  aggressive entry for 43 break
[09:59] {dino} sales news, guidance
[09:59] {dino} sm l .50
[09:59] {Threei}  same store sales +7.8% SIG
[09:59] {Threei}  LVS invakidated
[10:00] {ese} i'm afraid i'd have to go with your gut on that one.....i usually like the T&S to be going nuts with not a ton of spread
[10:00] {Threei}  (US) Jan IBD/TIPP Economic Optimism: 47.5 v 45.3e-
[10:01] {dino} thx
[10:02] {ese} as per vads scalping video......
[10:02] {Threei}  SPY starts looking like breakout
[10:03] {Threei} Long Setup:  TNA  .40 break
[10:03] {dino} hitk blood
[10:04] {Threei}  not a scalp
[10:04] {Threei}  1:1
[10:04] {Threei}  half out
[10:04] {ese} i've always admired your nerve on plays like SIG dino......takes guts to be able to sus those out and then have the nerve and guts to enter when they've tanked like that to enter
[10:04] {cipher} l crus .30
[10:04] {Threei}  stop .35
[10:06] {RonS} hma sm l .04
[10:06] {Threei}  come on TNA
[10:06] {Threei}  you can do 1:3
[10:07] {dino} just my thing ese
[10:07] {dino} seems to be my edge
[10:07] {ese} yup......cool watchin you operate
[10:07] {cipher} -.08 crus
[10:07] {ese} i think it is....definitely your edge
[10:08] {ese} gotta go though.....9am show
[10:08] {dino} out gsk .19, +.07 thing won't move
[10:08] {ese} catch ya tomorrow
[10:08] {Threei}  have fun ese
[10:08] {ese} tks
[10:08] {rambler} c ya ese...
[10:08] {dino} cya
[10:10] {Threei}  ok TNA... scalpers win
[10:11] {Threei} Long Setup:  X  .65 break
[10:11] {Threei}  stop under .60
[10:11] {Threei}  unusually tight for this stock
[10:12] {Threei}  but that's what chart indicates
[10:13] {cipher} l crus .10
[10:14] {Threei}  X, want to take first partial around 1:2
[10:14] {dino} out sig .60, +.10 entry was off
[10:14] {dino} brb
[10:15] {Threei}  no go
[10:16] {rambler} dang it all.....
[10:17] {Threei}  BBD
[10:19] {Threei}  newsfeed is down
[10:19] {Threei}  not sure what's with this one
[10:19] {Threei}  18 break is interesting but gotta check the news
[10:20] {Threei}  trades in a narrow range whole morning
[10:22] {Threei}  disregard BBD
[10:23] {cipher} crus -.11 stop
[10:23] {Threei} Long Setup:  LVS  .40 break
[10:24] {Threei}  two-sided setup probably
[10:24] {Threei} Short Setup: LVS  .30 break
[10:26] {RonS} out hma .36 +.32
[10:26] {Threei}  wtg
[10:26] {dino} spy on vwap
[10:26] {dino} gj ron
[10:30] {dino} fcx s .82
[10:32] {Threei}  looks like LVS is going to be long
[10:33] {dino} cov fcx +.02
[10:34] {dino} .75 wall
[10:35] {Threei}  wow
[10:35] {cipher} l crus .85 last try
[10:37] {Threei}  feel free to exit LVS here who got it
[10:37] {JohnH} try and catch some on a retest (LVS)
[10:37] {Threei}  not sure
[10:37] {Threei}  trades a bit weird
[10:37] {RonS} qotd:  Congrats 'Facebook of ladies behinds ' $LULU at all-tie highs
[10:39] {Threei}  lol
[10:41] {dino} gel drop
[10:41] {dino} thin
[10:42] {dino} gel sm l .45
[10:43] {cipher} l gel .39
[10:44] {Threei}  you guys are totally fearless
[10:45] {dino} tif lod
[10:46] {cipher} out 1/2 crus .00 +.15
[10:46] {dino} gj
[10:46] {Threei}  finally... revenge time for cipher and CRUS :)
[10:46] {cipher} thx
[10:47] {Threei}  GEL is working nicely
[10:47] {RonS} wfm smacked
[10:48] {dino} s3 71.40 wfm
[10:48] {Threei} Short Setup: LVS  .50 break
[10:48] {Threei}  oops
[10:48] {Threei}  long
[10:48] {cipher} out gel .59 +.20
[10:48] {Threei}  lol
[10:49] {dino} gj
[10:49] {Threei} Long Setup:  LVS  .50 break
[10:49] {Threei}  standard stop
[10:49] {RonS} lol...some dude saying wfm better weight loss than wtw...that he lost a lot after shopping wfm
[10:49] {Threei}  nice one cipher
[10:49] {cipher} thx dino
[10:50] {RonS} ya, he couldn't afford to eat...
[10:50] {Threei}  lol
[10:50] {dino} damn missed wfm
[10:53] {dino} fcx s .74
[10:53] {Threei}  LVS demonstrates salmonish behavior
[10:53] {Threei}  but still, let's trail stop to under .45
[10:53] {Threei}  market is too weak
[10:54] {Threei}  and even salmon may get tired if the curent is too strong for too long
[10:55] {Threei}  1:1
[10:57] {Threei}  out in full
[10:57] {Threei}  good boy LVS
[10:58] {Threei}  wow, too soon
[10:59] {Threei}  that .40 retest on pullback was a good idea in retrospect, JohnH
[10:59] {RonS} classic:  $LULU does a world class job of uplifting the bottom lines
[10:59] {Threei}  rofl
[10:59] {rambler} that was a p[otential day fixer...
[10:59] {Threei}  well, .50 break did just that
[10:59] {dino} runs a tight ship
[11:00] {RonS} lol
[11:01] {Threei}  dino WFM went back for sevond chance
[11:02] {dino} out gel .73, +.28
[11:03] {RonS} Tim Tebow Declines to Endorse Any Presidential Candidates Despite Courtship
[11:03] {cipher} wtg dino
[11:03] {JohnH} of course I didn't have the guts to pull the triggger on it
[11:03] {rambler} X double bottom...?
[11:03] {JohnH} but I'll get there...
[11:03] {RonS} ...didn't know courtship was running...
[11:03] {Threei}  X no
[11:04] {Threei}  looks all wrong
[11:04] {dino} ty cipher
[11:04] {dino} spy 129.08 r3
[11:05] {Threei}  WFM 72 break worked
[11:06] {Threei}  this is ridiculous beyond belief... Tebow endorsement? he is an expet in what exactly?
[11:06] {dino} sxci spike
[11:06] {Threei}  expert
[11:08] {cipher} +.14 sxci thx dino
[11:08] {dino} gj
[11:09] {dino} football i guess 3i
[11:09] {cipher} got out just before it dropped
[11:09] {Threei}  thought so... that's what makes his endorsement so weighty for presidential candidates...
[11:09] {RonS} people saying market drop due to F reporting 4th q loss...actually 4th q asia loss due to thai flood
[11:10] {RonS} reuters...
[11:11] {dino} out fcx -.04
[11:11] {Threei}  this is not even funny ron: F reported that at 9:38
[11:11] {Threei}  market went up sinve then, and started dropping much later
[11:11] {Threei}  are they complete idiots?
[11:13] {cipher} who is idiot?
[11:13] {Threei}  oh, too many to list lol
[11:14] {cipher} maybe they're manipulating it (the big boys)?
[11:15] {Threei} Long Setup:  FCX  .80 break
[11:19] {dino} feels weak to me
[11:22] {thomcbell} not weak - tentative
[11:22] {thomcbell} i feel
[11:23] {dino} lol
[11:23] {thomcbell} it needs permission
[11:23] {Threei}  {FCX} ah come on, all I need is to pick up one or two endordements
[11:23] {Threei}  from football players desirably
[11:24] {Threei}  1:1
[11:25] {cipher} +.10 FCX big size thx vad
[11:25] {Threei}  welcome sir
[11:25] {dino} out fcx +.10 ty, good read
[11:25] {Threei}  :)
[11:26] {thomcbell} out too thanks vad
[11:26] {Threei}  welcome
[11:26] {rambler} ditto..
[11:27] {Beau} thanks vad
[11:27] {Threei}  not a stellar day by any stretch of imagination, but bearably profitable
[11:30] {Threei}  (US) Fed's Pianalto: May take 4-5 years in order to reach 6% unemployment rate; US is nearing price stability- Forecasts 2012 GDP at 2.5%; 3% in 2013
[11:30] {thomcbell} Cat - tough one with fattest round number but trades nicely
[11:30] {Threei}  may we hold him to all these forecasts?
[11:31] {dino} fcx s .80
[11:32] {thomcbell} CAT 99.91 break half lot
[11:32] {thomcbell} if holds 99.74
[11:37] {thomcbell} CAT invalidated
[11:38] {dino} cov fcx .72, +.08\
[11:40] {Threei}  1:1
[11:40] {Threei}  nice
[11:43] {Threei}  (US) Fed's Williams: Too big to fail issue remains unresolved by Dodd Frank legislation and is a large threat to the financial system- Voices support for higher capital requirements for larger institutions
[11:43] {Threei}  hmmm
[11:43] {Threei}  is this kind of talk allowed in Fed?
[11:52] {RonS} hgt sm l .15
[11:55] {Threei}  - EUR/USD continues to probe the 1.28 handle during the New York session. Dealers are getting nervous ahead of Thursday's ECB decision and wondering which way the event might push the euro. The ECB is expected to press governments to step up their efforts to tackle the euro zone crisis as it leaves its key rates on hold for now
[11:56] {dino} gsk l .00
[12:01] {rambler} back in a bit......
[12:10] {dino}  gsk stuck, stop to .99
[12:10] {dino} lqdt spike
[12:11] {RonS} hgt out flat...gt drop
[12:16] {dino} ipgp wow
[12:18] {dino} needham conference
[12:18] {dino} gsk to .04
[12:18] {dino} ilmn spike
[12:18] {Threei}  halt
[12:21] {dino} out gsk +.04
[12:22] {dino} igpg continues
[12:22] {dino} ipgp
[12:25] {cc_8} any news on ILMN
[12:25] {dino} no
[12:25] {Threei}  there is some
[12:26] {Threei}  Notes it can now sequence genomes in one day using the new machine- Currently presenting at the JP Morgan healthcare conf.
[12:26] {Threei}  wow
[12:26] {Threei}  what's with market
[12:26] {Threei}  no news
[12:26] {cc_8} vollititlityyy
[12:26] {RonS} dang tza...
[12:26] {Threei}  yeah
[12:27] {RonS} was trying tza for .90...missed
[12:29] {Threei}  feels like new breajdown is coming
[12:30] {Threei} Long Setup:  TZA  .20 break
[12:30] {dino} ipgp vsm s .20 break wide
[12:32] {Threei}  stop under .10, target .45
[12:39] {Threei}  no go
[12:52] {rambler} all quiet on the western front...?
[12:52] {Threei}  for now
[13:09] {dino} idix spike
[13:19] {cipher} idix l .26
[13:35] {cipher} out .41 +.15
[13:39] {dino}  gj
[13:40] {RonS} ten selling
[13:41] {dino} ten drop
[13:41] {dino} opps
[13:44] {dino} sm l .46
[13:44] {Threei} Short Setup: CAT  .50 break if stays under .60
[13:48] {sstrader} CAT still valid?
[13:48] {Threei}  yes
[13:48] {sstrader} ty
[13:49] {Threei}  let's just keep shares a bit smaller than full lot
[13:49] {Threei}  gotta respect kunch time
[13:49] {Threei}  lunch
[13:49] {dino} ocr drop
[13:51] {cipher} +.14 ocr thx dino
[13:52] {dino} idix spike
[13:52] {dino} gj
[13:52] {cipher} darn idix took off without me
[13:53] {dino} out ten .75, +.29
[13:54] {Threei}  nice
[13:54] {RonS} gj
[13:54] {dino} ty
[13:57] {thomcbell} lvs vad?
[13:57] {thomcbell} 0.56 break?
[13:58] {Threei}  I doubt it
[13:58] {Threei}  CAT is firmly invalidated
[14:01] {dino} tea spike
[14:01] {RonS} made it taste like coffee?
[14:02] {Threei}  irish one too
[14:02] {dino} lol
[14:07] {dino} cie spike
[14:08] {dino} hmm none avail
[14:10] {dino} ipgp vsm s .20
[14:15] {cipher} ipgp l.85
[14:16] {dino} you dog
[14:16] {RonS} lol
[14:16] {dino} :D
[14:17] {dino} nice
[14:24] {dino} idix wow
[14:25] {cipher} out .29 +.44
[14:25] {dino} wtg
[14:25] {cipher} thx for the tip.. i'll forgive u for calling me a dog :-)
[14:26] {dino} thats a compliment
[14:26] {rambler} lol..
[14:27] {cipher} lol i know :-)
[14:27] {cipher} coming from you I wouldn't expect anything less :-)
[14:27] {dino} achn
[14:27] {dino} ;)
[14:36] {dino} ipgp stop
[14:44] {thomcbell} cie - one for us to watch - good trader
[14:45] {Threei}  spread is a little bit wider than I'd like, but overall, not bad
[14:47] {Threei}  (GR) Hedge funds increasingly reluctant to agree to a haircut on their Greek bond holdings with IMF - financial press- Said to have build up sufficiently large positions to sway the course of agreement on voluntary debt restructuring. - IIF managing director Dallara expcted to visit Athens this week for troika talks. **REMINDER: Greece is facing a Mar 20th deadline to roll over �14.5B of its debt.
[14:48] {Threei}  (US) White House spokesman Carney: Obama administration to ask for increase to debt ceiling in a 'matter of days' - The Hill- Carney: "I'm confident it will be executed in a matter of days, not weeks."
[14:48] {Threei}  - The White House will be asking Congress to raise the U.S. borrowing limit by $1.2 trillion. The move would mark the third and final increase from the debt-ceiling deal reached last year by Congress.
[14:48] {Threei}  god... trillions are flying like it's nothing
[15:04] {dino} cstr drop
[15:05] {dino} sm l .51
[15:06] {dino} out .81, +.30
[15:08] {RonS} wtg
[15:08] {dino} ty
[15:08] {Threei} Short Setup: FCX  .80 break
[15:15] {Threei}  invalidated
[15:24] {Threei}  FCX is valid again
[15:33] {Threei}  1:1 close enough
[15:33] {Threei}  out
[15:33] {rambler} nice one Vad...thks
[15:35] {Threei}  :)
[15:43] {rambler} it's not stopping....
[15:43] {Threei}  1:2... without me
[15:43] {Threei}  realy wanted cemented win, without risk of giving it back
[15:48] {dino} gj
[15:51] {dino} wow ipgp
[15:59] {Threei}  Ok guys, thank you all
[15:59] {Threei}  have a good evening, see you tomorrow
[15:59] {rambler} thanks Vad, c u all in  the a.m.
[16:00] {JK13} good night  Vad
[16:00] {dino} gn all