Tuesday, January 17, 2012

Jan 17 2012

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

Honest day of profits - good setups most of which worked nicely, while stops were few and well-controlled. 

Session Time: Tue Jan 17 00:00:00 2012
[09:06] {Threei}  OK... I give up... I admit, it's a morning of a new week and we do have to wake up and start working
[09:07] {swill} ok, I'll get to work
[09:07] {Threei}  ty... I don't feel alone anymore
[09:09] {stewy} morning Vad 
[09:09] {Threei}  stewy :)
[09:10] {stewy} tanned, rested and ready. et tu?
[09:11] {Threei}  all that, minus tanned part...
[09:15] {JK13} gm everyone
[09:15] {Threei}  jk :)
[09:16] {Threei}  just as I thought winter was over, firast snowflakes appeared
[09:16] {swill} any pics of snow?
[09:16] {JK13} Are you enjoying it?
[09:16] {Threei}  no and no
[09:17] {Threei}  after 10 years in Winnipeg, I could do another 30 years without seeing any snow and not missing it one bit
[09:17] {JK13} Was beautiful yesterday 
[09:17] {Threei}  not here
[09:18] {Threei}  very thin, rather ugly
[09:18] {Threei}  metls fast, so it's mostly dirt
[09:18] {swill} perhaps global warming will help
[09:18] {Threei}  west part of Greater Victoria has real snow... Sooke
[09:19] {Beau} good morning you all.  76 in SE Texas today
[09:19] {Threei}  hi Beau... I am taking next flight
[09:20] {Beau} have to put up with eating lots of shrimp and gumbo
[09:20] {Threei}  shrimp, no probem
[09:20] {rambler} good morning...
[09:21] {Threei}  rambler :)
[09:21] {Threei}  so guys, how creepy is that: our best play on Fri was short CCL
[09:21] {Threei}  signal from the future?
[09:22] {rambler} lol...that is a good one
[09:22] {Threei}  anyone seen that stock almanach dropping from thr flying car on their driveway?
[09:24] {JK13} FCX short in the morning was great too
[09:24] {Threei}  worked fine, yes... just doesn't have this Back to the Future connotation :)
[09:25] {Threei}  CCL climbed about dollar and half from the morning low
[09:26] {Threei}  will keep it on a radar, not sure about the direction yet
[09:26] {Threei}  FCX, want to find short into spike
[09:26] {Threei}  as always first play on FCX is half lot
[09:30] {Threei} Short Setup: FCX  .10 break
[09:31] {Threei}  if stays under .20
[09:32] {Threei}  (EU) Netherlands Fin Min de Jager: unlikely that Germany or the Netherlands would increase their guarantees for the EFSF [after S&P sovereign downgrades of France, Austria, and the EFSF
[09:32] {Threei}  FCX, that's why you don't use market orders on entry
[09:32] {Threei}  wait for second chance instead
[09:33] {Threei}  in
[09:33] {Threei}  stop above .20
[09:34] {Threei}  target 1:2
[09:35] {Threei}  1:1
[09:36] {Threei} Short Setup: LVS  .30 break
[09:36] {Threei}  half lot
[09:37] {Threei}  if stays under .50
[09:37] {Threei}  .40, sorry
[09:37] {Threei}  invalidated
[09:37] {Threei}  FCX 1:2, out
[09:37] {ese} morning
[09:38] {Threei}  ese :)
[09:38] {rambler} gj on FCX Vad...
[09:38] {Threei}  ty
[09:38] {Threei}  old fsithful
[09:39] {Threei}  almost ATM
[09:39] {Threei} Short Setup: SLW  .75 break
[09:40] {Threei}  stop above .85
[09:41] {Threei}  (EU) EU's Van Rompuy acknowledges S&P rating action on European nations
[09:41] {Threei}  lol
[09:41] {Threei}  and if he didn't?
[09:41] {Threei}  SLW stop to .81
[09:42] {Threei}  not very confident in it here
[09:43] {Threei} Short Setup: CCL  .70 break
[09:43] {Threei}  half ,lot
[09:43] {Threei}  if stays under .85
[09:43] {Threei}  out SLW
[09:43] {JohnH} can't short CCL
[09:44] {Threei}  had this feeling that we better cover it t ,67 but discipline won
[09:45] {rambler} missed...
[09:45] {cipher} ccl 1:1 ?
[09:46] {Threei}  I think so
[09:46] {Threei}  tough read
[09:46] {cipher} yeah
[09:46] {Threei}  1:1
[09:46] {Threei}  out
[09:47] {cipher} out thx
[09:47] {dino} cov ccl .53, +.16 ty vad
[09:48] {Threei}  welcome
[09:48] {Threei}  had more in it
[09:48] {Threei}  oh well
[09:48] {dino} bummer
[09:49] {Threei} Long Setup:  RCL  .70 break
[09:50] {Threei}  if stays above .60
[09:50] {pragmatic} also looks like double top
[09:51] {Threei}  invalidated, but on radar
[09:53] {Threei} Long Setup:  LVS  .50 break
[09:54] {Threei}  if stays above .40
[09:54] {Threei}  target .75
[09:56] {Threei}  see this nice juicy resistance at .60?
[09:57] {Threei}  LVS is very anxious to break it and trap shorts by sharp spike... unless SPY kills the play
[09:58] {dino} rcl l .61 stop .49
[09:58] {Threei} Long Setup:  RCL  .65 break
[09:58] {Threei}  if stays above .50
[10:00] {Threei}  perfect moment for SPY to bounce and help both our longs
[10:01] {Threei}  hmmm
[10:01] {Threei}  vhanged its mind
[10:01] {Threei}  LVS is very resilient but it can swim against the current just for so long
[10:02] {dino} stop
[10:02] {Threei}  RCL no go
[10:04] {Threei}  it's time LVS
[10:04] {Threei}  break that wall
[10:04] {dino} rinsed
[10:05] {Threei}  SPY is much weaker than you'd expect
[10:05] {RonS} kgc sm l .52
[10:05] {Threei}  ugh RCL
[10:05] {Threei}  that was very indecent of you
[10:06] {Threei}  especially considering that I chose you as my Alaska cruise line xouple years ago
[10:07] {dino} dmnd sm l .75
[10:10] {cipher} +.25 dmnd thx dino
[10:10] {dino} gj
[10:10] {Threei}  time to dino LVS stop a bit - let's trail it to .44
[10:10] {Threei}  wtg
[10:10] {Threei}  1:1
[10:10] {Threei}  good boy LVS
[10:11] {Threei}  now take that .60 and explode
[10:11] {dino} 07 all red
[10:11] {Threei}  here we go
[10:12] {Threei}  salmon at its best
[10:12] {Threei}  give us 10 cents more and we will leave you alone
[10:12] {Threei}  5
[10:12] {Threei}  1:2
[10:14] {Beau} thx vad
[10:14] {Threei}  stop .55 for ther last part
[10:14] {Threei}  welcome sir
[10:14] {dino} gj
[10:15] {rambler} out...tks Vad...
[10:15] {Threei}  :)
[10:15] {dino} fcx s .70
[10:19] {Threei} Long Setup:  TZA  .50 break
[10:19] {Threei}  if stays abiove .40 (as if it were not obvious)
[10:20] {Threei}  should be good for 1:2
[10:21] {Threei}  bit if you are a scalper in your heart, by all means ignore me
[10:23] {dino} fcx stop -.11
[10:24] {Threei}  no go TZA
[10:30] {Threei} Short Setup: BG  .20 break half lot
[10:32] {swill} I'm away for a while.  good luck
[10:32] {Threei}  ok... we will be here
[10:32] {Threei}  drive carefully, will ya
[10:32] {Threei}  there IS snow on the roads
[10:33] {ese} be safe swill
[10:33] {swill} thanks guys
[10:33] {RonS} TIF is spiking on takeover chatter
[10:34] {Threei}  (DE) German Economy Minister Roesler: no risk that Germany will lose its AAA sovereign rating; Germany does not plan to increase contribution to EFSF [after S&P downgrade of France, Austria, and EFSF rating]
[10:34] {Threei}  - EFSF auction today shows the markets still support the EFSF even after the S&P downgrade.
[10:36] {cipher} tza l .41
[10:36] {dino} fcx s .80
[10:40] {Threei}  cipher, I like the play but I'd trail stop to .35 here
[10:40] {cipher} ok thx
[10:41] {Threei}  lower BB came to that level to support, and TZA tested .40 from above couple times... so, time to choke the stop a bit
[10:42] {Threei}  need SPY to lose .80 to make this one work
[10:43] {Threei}  let's see if violence helps
06[10:43] * Threei hits SPY over the hed with 2x4
[10:43] {dino} kors spike
[10:44] {Threei}  both of them?
[10:44] {Threei}  never mind, wrong window
[10:44] {dino} chtr spike
[10:47] {Threei}  finallly
[10:48] {Threei}  I almost started doubting the effectiveness of violence
[10:48] {JK13} :)
[10:48] {cipher} thx vad for the 2x4
[10:49] {Threei}  always... my pleasure
[10:49] {rambler} teamwork...lol
[10:49] {Threei}  need nemo's expetise in that too
[10:50] {cipher} out 1/2 tza .59 +.18
[10:50] {Threei}  beautiful
[10:50] {Threei}  wtg
[10:50] {dino} chtr sm s .80
[10:53] {Threei}  mama mia... look at UNG daily
[10:54] {Threei}  believe it or not, BG is still valid
[10:57] {dino} fcx stop -.06
[10:57] {cipher} tza stopped second 1/2 +.09
[10:59] {dino} gj
[11:03] {Threei}  looking at UNG, can't help but think... will we have natural gas for free if this continues?
[11:06] {dino} claiming they make $ at 3 on marcellus
[11:06] {RonS} rimm pop
[11:07] {Threei}  no news yet
[11:07] {Threei}  nother round of takeover rumors I bet
[11:07] {Threei}  (GR) Institute of International Finance (IIF) reiterates commitment to reaching a voluntary debt agreement with the Greece Govt in latest negotiations
[11:07] {Threei}  lol
[11:08] {dino} chtr to .60
[11:08] {Threei}  give me all you have voluntarily or I'll take it by force
[11:08] {Threei}  RIMM Ticks higher on circulating of tech blog speculating on options for the company
[11:08] {Threei}  there you go
[11:09] {dino} greece says why not take $ when we only have to give back 1/2
[11:09] {Threei}  http://www.bgr.com/2012/01/17/research-in-motion-pushing-for-sale-to-samsung/
[11:09] {JohnH} wow, blogs have power, watch out Vad
[11:10] {dino} cov chtr +.20
[11:10] {Threei}  no kidding
[11:10] {rambler} gj Dino...
[11:10] {Threei}  who could argue with that when we witness the power of wisdom squeezed in 140 symbols
[11:11] {dino} ty
[11:11] {Threei}  and if I sound like a cranky curmudgeon, that's because I am one
[11:13] {Threei}  BG 1:1
[11:17] {thomcbell} vad qcom double top radar 
[11:17] {thomcbell} 57.57 trigger 
[11:17] {Threei}  not sure...
[11:18] {Threei}  I see what you mean chart wise
[11:18] {Threei}  but the SPY doesn't look conducive to short here
[11:18] {dino} sina sm s .97ave
[11:19] {thomcbell} invalidated
[11:19] {thomcbell} still on radar 
[11:19] {thomcbell} big move for this beast
[11:26] {RonS} RRD sm l .20
[11:26] {JohnH} now qcom looks like a short
[11:26] {Threei}  just wanted to say that
[11:26] {Threei}  good eye
[11:27] {dino}  cov sina .57, +.40
[11:27] {RonS} gj
[11:27] {dino} ty
[11:28] {Threei}  nice
[11:28] {Threei}  QCOM recross of .60 is a short trigger
[11:31] {Threei}  nah
[11:33] {RonS} 3i, what are you BB settings again please?
[11:34] {Threei}  intraday 13/1.7
[11:34] {Threei}  daily 20/2
[11:34] {dino} csh sm l .24
[11:37] {RonS} thanks
[11:45] {Threei} Short Setup: FCX  43 break
[11:48] {JohnH} w/BB that tight could go either way?
[11:48] {Threei}  BBs tightening signals sharp moving coming
[11:48] {Threei}  direction is not really a BB department
[11:49] {JohnH} right, but both ways possible.
[11:49] {Threei}  generally, yes
[11:50] {Threei}  whether this particular one can be used as a two=sided setup, not sure
[11:50] {Threei}  43 is a very pronounced support
[11:50] {JohnH} ok, thanks
[11:50] {Threei}  I am a big fan of shorting those
[11:51] {JohnH} long base=long implosion
[11:51] {Threei}  they usually give instant gratification
[11:51] {Threei}  and I am a big fan of that :)
[11:52] {thomcbell} disgusting really
[11:52] {thomcbell} shameful
[11:52] {Threei}  I know
[11:53] {Threei}  I am fighting it
[11:53] {Threei}  but losing the fight time and again
[11:59] {RonS} out RRD .45 +.25
[11:59] {Threei}  wtg
[11:59] {dino} gj
[12:00] {RonS} ty
[12:02] {Threei}  FCX is valid
[12:08] {ese} am outta here all......been on the phone all morning to Ottawa......My R&B band will be there from the 13th to 19th of Feb.....cya tomorrow
[12:08] {dino} cya
[12:09] {ese} later dino
[12:09] {rambler} cya ese....
[12:09] {Threei}  take care ese
[12:17] {RonS} csh sm l .10
[12:25] {dino} arql sm s .27
[12:28] {dino} csh stop -.25
[12:34] {dino} syna sm s .83
[12:38] {swill} back in the saddle.  roads as you said
[12:38] {Threei}  slushy?
[12:38] {swill} in some places yes
[12:42] {dino} cvv sm s .89
[12:44] {RonS} out csh .02 -.08
[12:53] {swill} vad, would fcx qualify as double top?
[12:53] {Threei}  not reslly... very loose chart, jellyfish
[12:54] {swill} ah. like the roads
[12:54] {Threei}  lol
[12:55] {swill} snow makeing a good showing hear now
[12:55] {dino} sleet here
[12:56] {Threei}  robins go crazy in front of my window
[12:56] {Threei}  let me grab a camera
[12:58] {swill} i put out some seed for the swollows 
[13:01] {dino} don't you meen swillows
[13:02] {swill} clever
[13:03] {swill} i'll have a swillo for the swollows
[13:03] {dino} lol
[13:03] {Threei}  http://goo.gl/bAvJA
[13:03] {dino} wfm spike
[13:04] {dino} csh rinsed
[13:05] {JK13} cute
[13:06] {JK13} cute picture
[13:06] {Threei}  unneccessary elaboration - didn't think you meant me :)
[13:07] {JK13} you where not in there
[13:07] {swill} i see you cought that robin in the act
[13:08] {Threei}  that's a good thing jk... to save any photo I better remain on this side of the viewfinder :)
[13:09] {JK13} :) not necesary
[13:13] {dino} wfm?
[13:13] {Threei}  no news
[13:13] {_quotesmart} can you explain your risk/reward .. 1:1, 1:2, etc - do you always have the initial stop at .10?
[13:14] {Threei}  not necessary, sometimes it's different, depends on a chart
[13:14] {Threei}  watch for the comment: if stays above or below certain level
[13:14] {Threei}  ie:
[13:15] {Threei}  buy break of .20 if stays above .10 means stop will be located under .10
[13:15] {Threei}  http://www.realitytrader.com/tradingroom/, scroll down to: How trading room operates
[13:16] {_quotesmart} ok - sometimes you don't have that level though - like FCX - so where would initial stop be for that one?
[13:16] {Threei}  if most of them are 10 cents, hat's becausxe I try to pick the charts that match this width of stop
[13:16] {dino} syna stop -.13
[13:17] {Threei}  if I skip the mention, that's mostly because it's very obvious, or because of a senile moment
[13:17] {Threei}  in any case, don't hesitate to ask :)
[13:18] {Threei}  with 43 break, .10 wad the level for adtop or invalidation
[13:18] {Threei}  got invalidated at 12:08
[13:19] {_quotesmart} so it was invalidated when price went above 43.10?
[13:20] {Threei}  correct
[13:20] {_quotesmart} thanks
[13:20] {Threei}  sure thing
[13:21] {dino} rcl l .50
[13:21] {Threei}  we have plenty of materials on the free side of the site,
[13:21] {Threei}  take advantage of them
[13:22] {Threei}  http://www.realitytrader.com/freelessons.html and http://blog.realitytrader.com/2011/10/blog-summary-updated.html
[13:30] {dino} wpi drop
[13:30] {Threei} Short Setup: WCN  .10 break
[13:31] {Threei}  if stays under .20
[13:37] {dino} cov cvv .59, +.30
[13:39] {dino} rcl to .67
[13:41] {dino} to .70
[13:42] {dino} out .72, +.22 rcl
[13:43] {RonS} gj
[13:43] {dino} ty
[13:43] {Threei}  thanks for taking revenge on RCL
[13:44] {dino} thing pissed my off in the a.m. rinsed and ran
[13:44] {Threei}  ditto
[13:47] {dino} cov arql .90, +.37
[13:48] {dino} wpi vsm l .35
[13:52] {swill} going out in the slay
[13:54] {_quotesmart} is there a feature in this chatroom - where sound is made when you enter a trade setup?
[13:54] {Threei}  not via mibbit... in MIRC you can configure sound alert
[13:55] {_quotesmart} ok - thanks - will look into MIRC
[13:57] {dino} wpi to b/e
[13:58] {dino} out .75, +.40
[13:58] {Threei}  wtg
[13:58] {dino} ty
[13:59] {Threei}  let's trail WCN stop to .15
[14:00] {dino} brb
[14:14] {dino}  wow wpi drops more
[14:19] {Threei}  South Carolina: #Romney 35%, #Gingrich 21%, #Santorum 16%, #Paul 16%.
[14:19] {Threei}  it's over, let's move to general election
[14:26] {Threei}  sraeli hackers shut down UAE, Saudi Arabia stock exchange sites
[14:27] {dino} ?
[14:32] {stewy} holy cow
[14:36] {Threei}  I don't see news for this drop
[14:36] {Threei}  unless it's Hungary concerns about not getting aid
[14:38] {dino} hungry for aid
[14:41] {Threei}  as far as bad puns go, this is bad even by my palrty standards, lol
[14:42] {Threei}  grrr... BP... was thinking of short, decided against it
[15:00] {rambler} gotta run...thx for ideas...cya in the a.m....
[15:01] {Threei}  take care rambler
[15:07] {Threei} Long Setup:  TZA  .75 break
[15:07] {Threei}  if stays above .65
[15:09] {Threei}  1:1
[15:09] {Threei}  nice and easy
[15:09] {Threei}  just as we like it
[15:10] {Threei}  1:2, out
[15:10] {dino} s/p going for gap
[15:10] {Threei}  11:52] {thomcbell} disgusting really
[15:10] {Threei}  [11:52] {thomcbell} shameful
[15:10] {Threei}  color me ashamed
[15:10] {Threei}  again
[15:11] {stewy} that was worth waitin all day for... ty!
[15:11] {Threei}  welcome sir
[15:12] {stewy} finally, some proper partialling management
[15:12] {Threei}  embodiment of easy money - no single downtick since triggering
[15:18] {dino} gotta hop, thx all, decent day, appreciate the ideas
[15:18] {Threei}  take care dino
[15:19] {dino} will do
[15:20] {stewy} bye dino 
[15:23] {Threei}  wow... the difference in conditions between areas separated by 20 min driving on the island can be mind-boggling
[15:24] {Threei}  clear and nice hear, but the ballet school wife should have been playing for later today phoned and said, everything's canceled, heavy snow
[15:24] {Threei}  hear = here
[15:37] {JK13} thank you Vad for everything, have a nice evening everyone
[15:37] {Threei}  take care JK
[15:49] {Threei}  ok guys
[15:49] {Threei}  thank you all
[15:49] {Threei}  have a great evening
[15:49] {Threei}  see you tomorrow
[15:49] {stewy} thanks Vad. a good day.  
[15:50] {stewy} good night everyone.
[15:50] {Threei}  :)