Friday, January 20, 2012

Jan 20 2012

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

Nicely profitable albeit quiet and not very active day. No reason to complain though - whole week was like that, so we just handled it accordingly.


Session Time: Fri Jan 20 00:00:00 2012
[09:02] {stewy} good morning Vad
[09:02] {Threei}  morning stewy
[09:03] {Threei}  left a tad early yesterday, just before a string of 4 wins
[09:03] {stewy} oy you are a patient man
[09:13] {JK13} gm everyone
[09:13] {Threei}  jk :)
[09:22] {rambler} morning....
[09:22] {Threei}  rambler :)
[09:23] {Threei}  who wants to experience dizziness without fancy drugs, just look at GOOG
[09:26] {Beau} good morning you all
[09:26] {Threei}  beau :)
[09:29] {Threei}  FCX first trade on a short side when spread narrows down
[09:30] {Threei}  not much chance for entry, waiting for a bounce
[09:32] {ese} morning
[09:32] {Threei}  ese :)
[09:33] {Threei} Short Setup: FCX  .10 break if stays under .20
[09:33] {Threei}  still would prefer a bounce first but if none comes, .10 is a valid trigger
[09:34] {Threei}  1:1
[09:35] {Threei}  1:2. out
[09:35] {rambler} tks Vad...
[09:35] {Threei} Long Setup:  SLW  .40 break
[09:36] {Threei}  yw
[09:37] {Threei} Long Setup:  FCX  .80 break
[09:37] {Threei}  if stays above .70
[09:38] {Threei}  SLW stop .33
[09:38] {Threei}  FCX 1:1
[09:40] {Threei}  stopped SLW
[09:41] {Threei} Long Setup:  LVS  .80 break
[09:45] {Threei}  trail stop to .74
[09:45] {thomcbell} slb strong
[09:46] {Threei} Short Setup: FCX  .70 break
[09:46] {Threei}  if stays under .80
[09:46] {Threei}  LVS 1:1
[09:48] {Threei}  1:2, out
[09:49] {rambler} you trading half lots Vad...?
[09:50] {Threei}  on FCX yes
[09:50] {dino} ccoi drop
[09:50] {Threei}  for the first 15-20 min
[09:50] {Threei}  invalidated FCX
[09:50] {ese} hes worse than me...30K 40K at a time
[09:51] {Threei}  existing home sales at 10
[09:53] {dino} ccoi sm l .00
[09:53] {stewy} vad, did kgc chart show db pattern?
[09:53] {ese} 15.00 or 16.00 dino
[09:54] {ese} wow
[09:54] {Threei}  not ideal but more or less, yes
[09:54] {stewy} k thx
[09:54] {dino} 16
[09:55] {Threei} Long Setup:  LVS  47 break
[09:55] {Threei}  if stays above .90
[09:56] {dino} out ccoi .62, +.62
[09:56] {Threei}  dizzy trade
[09:56] {Threei}  wtg
[09:56] {ese} nerves of steel.....awesome
[09:57] {dino} ty
[09:58] {stewy} does that lvs drop invalidate it?
[09:58] {dino} megaload issues w/coi
[09:58] {Threei}  not entirely, will reestablish itself if stays here for a min more
[09:59] {ese} ?  don't get ya   megaload
[09:59] {Threei}  now invalidated
[10:00] {Threei}  *(US) DEC EXISTING HOME SALES: 4.61M V 4.65ME
[10:01] {dino} alxn drop
[10:10] {Threei}  fading that LVS JBE would have been a grand idea eh
[10:13] {dino} mnst jump
[10:15] {Threei} Long Setup:  LVS  .65 break
[10:15] {Threei}  if stays above .55
[10:17] {Threei}  target 1:2
[10:19] {_candy} what is tgt 1:2
[10:19] {Threei}  risk/reward
[10:20] {Threei}  http://www.realitytrader.com/tradingroom/, scroll down to How trading room operates
[10:21] {Threei}  1:1
[10:21] {Threei}  determines sell target and how to manage the trade
[10:22] {pragmatic} stop on lvs now ? still .55 or below 60 ?
[10:23] {Threei}  .64
[10:23] {Threei}  why would you keep it at original place after reaching and excedding 1:1??
[10:23] {pragmatic} k
06[10:24] * Threei slaps pragmatic with 111 Trades course
06[10:24] * pragmatic :(
[10:25] {Threei}  why the ong face... there are worse things to be slapped with
[10:25] {stewy} nice scalps today vad thx
[10:25] {Threei}  yw
[10:27] {dino} atls drop
[10:29] {Threei}  strong puking reflex:
[10:29] {Threei}  2006, notes from FOMC meeting
[10:29] {JohnH} UXG hasn't exactly faded the news today of the successful merger
[10:29] {Threei}  Treasury Secretary Timothy Geithner (then the president of the New York Federal Reserve Bank) telling outgoing Fed Chairman Alan Greenspan:
[10:29] {Threei}  �I�d like the record to show that I think you�re pretty terrific, too. And thinking in terms of probabilities, I think the risk that we decide in the future that you�re even better than we think is higher than the alternative.�
[10:30] {dino} wll l .25
[10:34] {dino} out wll .40, +.15
[10:35] {cipher} took a small scalp on wll thx dino
[10:35] {rambler} ditto...thx Dino...
[10:35] {cipher} had more in it
[10:35] {dino} gj
[10:36] {dino} yeah, but scalp was the plan
[10:37] {ese} L ASIA .00
[10:37] {dino} ntes spike
[10:37] {ese} sm
[10:37] {ese} L INSM .95 sm
[10:42] {dino} wll pullback
[10:42] {JohnH} INSM looks like it could go either way
[10:43] {ese} L lng .08 sm
[10:44] {ese} out lng .20 +.12
[10:44] {dino} gj
[10:44] {rambler} nice ese....
[10:45] {ese} tks
[10:45] {ese} enough cash to buy snow tires to get up to your place on the Malahat
[10:46] {rambler} roger that.....
[10:47] {Threei}  these days ese measures things in snow tires and chains
[10:47] {ese} lol
[10:48] {dino} wll sm l .90
[10:48] {Threei}  but it's almost over... rain and solid warmth tomorrow, will wash off all this white crap
[10:48] {rambler} risk 1 snowtire...reward....full set and chains....I like that...
[10:49] {ese} supose to.....isn't it suppose to one more big one today though
[10:49] {rambler} I hope so...Ilike the stuff myself..
[10:49] {Threei}  big, no... chances of freezing rain
[10:50] {ese} ahhhhhhhh
[10:51] {ese} perfect...there will be nobody on the roads again
[10:52] {ese} L wll .85
[10:52] {ese} dino....how much of a decline are you looking for on a retracement like wll
[10:53] {dino} i am l
[10:53] {dino} looking for 47.20
[10:53] {dino} .64 is stop
[10:53] {ese} % wise I mean......48 to 47 was how much?
[10:54] {dino} oh, i just look at prior resistance to turn to support
[10:54] {ese} ahhh
[10:54] {dino} but right now its not working
[10:55] {ese} yup
[10:55] {dino} missed atls db
[10:57] {ese} would have been a good one .60 to.00
[10:58] {Threei} Long Setup:  FCX  .35 break
[10:58] {dino} y
[10:58] {Threei}  if stays above .30
[10:59] {ese} out INSM .13 +.18
[10:59] {Threei}  invalidated but on radar
[11:00] {Threei}  ugh
[11:00] {Threei}  .30 recross was it
[11:00] {Threei}  happened way too fast for a call
[11:00] {JohnH} so close...but so far
[11:01] {Threei}  let's see if we get double bottom
[11:02] {Threei} Long Setup:  FCX  .35 break
[11:02] {Threei}  if stays above .25
[11:03] {dino} wll to flat
[11:03] {Threei}  (EU) Foreign Sec Ashton: Expects statement to reiterate major powers have always been open to diplomatic solution on Iran - still awaiting formal response from Iranians to the Oct 21 draft
[11:03] {Threei}  Oct 21, eh
[11:04] {Threei}  who unplugged the market?
[11:04] {dino} ntes sm s .82
[11:04] {ese} out wll .02 +.17 good enough for me ....tks dino
[11:04] {dino} gj ese
[11:05] {Threei}  FCX target .55
[11:06] {dino} out wll flat
[11:06] {Threei}  two partials, strictly by the book play
[11:07] {Threei}  At $400 Billion, Apple Is Worth More Than Greece
[11:07] {JohnH} which would you buy?
[11:07] {Threei}  Greece
[11:07] {JohnH} beach man
[11:07] {ese} now thats an interesting point
[11:07] {Threei}  I like pretty colors and ancient ruins
[11:08] {Threei}  and beaches, yes
[11:08] {Threei}  toasters connected to Internet on the other hand, leave me cold
[11:08] {ese} out asia .99 -.01  had enough of that
[11:09] {Threei}  even if they are called iToast
[11:11] {Threei}  break of .40 should catapult FCX
[11:11] {JohnH} I would love to see your trading setup in one of those greek island buildings
[11:11] {JohnH} I'm sure you'd have NO problem with getting good data streaming out there...
[11:12] {Threei}  SPY has a bad case of downdriftis today
[11:13] {rambler} yes, we need a little cooperation from mr market...
[11:14] {Threei}  let's trail stop to .29
[11:14] {ese} wll 's look not bad here dino
[11:15] {ese} lookin
[11:15] {dino} alxn drop again
[11:17] {dino} sm l .71 alxn
[11:17] {ese} rounded bottom on the 1min chart might fire it up there
[11:21] {dino} alxn stop -.25
[11:21] {rambler} stop FCX...
[11:21] {Threei}  oh well
[11:21] {rambler} dang...
[11:22] {dino} ntes bstop to .79
[11:25] {dino} twin drop
[11:25] {JohnH} FCX finally pierced the 11am low
[11:25] {Threei}  good tightening FCX
[11:26] {JohnH} good call, yeah
[11:26] {JohnH} I guess we could have shorted the breakdown DBI style
[11:26] {Threei}  yup
[11:28] {dino} twin sm l .75
[11:30] {Threei} Short Setup: LVS  .40 break
[11:32] {ese} L insm .21 1/2
[11:36] {dino} out ntes +.06
[11:36] {Threei}  ok LVS
[11:36] {Threei}  let's dance
[11:38] {dino} wll sm l .61
[11:38] {Threei}  not liking that it didn't plunge fast
[11:41] {Threei}  stop at .46
[11:42] {Threei}  let's choke them dino style
[11:43] {dino} :/
[11:44] {dino} rbn drop
[11:50] {dino} out wll .01, +.40
[11:57] {rambler} just back from driving daughter to school....lights off, not a car in the parking lot....
[11:58] {rambler} unbelievable...
[11:58] {Threei}  hope you didn't leave her there saying "education is above all"
[11:59] {rambler} I thought about it....
[12:06] {Threei}  SLV spike
[12:07] {ese} still L insm....but have to go......have a great weekend...cya monday
[12:08] {Threei}  have a good one ese
[12:09] {dino}  twin stop -.30
[12:09] {stewy} bye ese gd wknd
[12:19] {dino} ntes sm s .99
[12:22] {dino} rbn sm l .20
[12:26] {Threei}  volume dried up significantly
[12:37] {Threei}  silver is up, copper is down... does it tell us anything?
[12:38] {rambler} 'the chickens have come home to roost'
[12:42] {dino} ntes won't move tighten to .04
[12:49] {dino} out rbn .60, +.40
[12:50] {rambler} gj Dino...was watching that one....
[12:50] {dino} jumpy
[12:51] {dino} ntes stop -.07
[12:57] {stewy} wll tryin to brk out?
[12:58] {dino} watching it
[13:01] {stewy} in wll
[13:01] {cipher} same here
[13:04] {cipher} out wll .10 +.20
[13:04] {dino} hnz drop
[13:05] {stewy} nice scalp
[13:05] {cipher} thx for the heads up stewy
[13:06] {stewy} de nada
[13:06] {stewy} ;)
[13:15] {cipher} hnz s .66
[13:19] {cipher} cov .50 +.16 thx dino
[13:19] {dino} gj
[13:24] {Threei}  what the deuce
[13:29] {rambler} Dino...dcc
[13:33] {rambler} RBN at 46 even...
[13:40] {dino} slw l .43
[13:41] {Threei} Long Setup:  TZA  .15 break
[13:42] {Threei}  if loses .10 but stays above .05, make .10 recross a trigger
[13:44] {dino} twin sm l .55
[13:44] {dino} out slw .53 +.10
[13:44] {dino} ugh slw
[13:46] {Threei}  just a scalp most likely, ,looking to exit closer to .20
[13:49] {Threei}  wake up TZA, SPY is dropping
06[13:53] * Threei pokes TZA in ribcage with sharp stick
[13:53] {Threei}  what an amoeba today
[14:00] {Threei}  to be sure, stop is .09 at this point
[14:00] {dino} rbn sm l .09
[14:01] {cipher} rbn l .10
[14:06] {dino} gdi blood
[14:08] {cipher} dang missed gdi
[14:09] {dino} mtn spike
[14:09] {dino} too fast
[14:11] {cipher} out rbn .37 +.27 thx dino
[14:12] {Threei}  nice
[14:13] {cipher} not quite by dino's standards
[14:13] {cipher} .30 minimum
[14:14] {dino} gj
[14:16] {Threei}  feel free to take profit as you see fit... intended it as a scalp, and it's above 1:1
[14:16] {Threei}  out .19
[14:17] {Threei}  only fell asleep twice during the trade
[14:18] {nemo} well?
[14:18] {Threei}  hey!
[14:19] {nemo} I escaped...I'm on the train
[14:19] {Threei}  finally someone who can insult people, drunk or sober
[14:19] {nemo} or unconsciously also
[14:20] {Threei}  additional asset
[14:20] {Threei}  wow, TZA had more in it
[14:20] {nemo} yeah, quite zen of me
[14:20] {Threei}  hehe
[14:23] {nemo} Where the women at?
[14:24] {rambler} IBKR breaking out.....
[14:25] {rambler} big volume today....
[14:29] {nemo} frickin train network
[14:35] {dino} out rbn .33 +.23
[14:35] {nemo} trains suck
[14:36] {Threei}  do they
[14:36] {nemo} well, their wifi does
[14:36] {Threei}  :)
[14:36] {Threei}  wow... look at TZA now
[14:36] {Threei}  20 cents
[14:36] {Threei}  1:4
[14:41] {dino} rbn sm l .45
[14:44] {dino} exel
[14:56] {dino} wpi drop
[14:56] {nemo} Hey Dino!  Think Patriots win this week?
[14:59] {dino} nope, lol
[14:59] {nemo} well, on that note...I have to pack up and get off the train....see ya
[14:59] {Threei}  see you next week
[15:00] {dino} cya
[15:04] {dino} wpi sm l .30
[15:10] {dino} out rbn .60, +.15
[15:14] {dino} out twin .70, +.15
[15:14] {Threei}  nice
[15:15] {dino} ty
[15:18] {dino} wpi to .64
[15:18] {dino} mdvn drop
[15:18] {dino} out wpi slip, .60, +.30
[15:18] {rambler} nice one Dino...
[15:19] {dino} ty
[15:19] {dino} mdvn bounced right off s2
[15:23] {dino} wpi drops again
[15:25] {Threei} Long Setup:  GLD  162 break
[15:26] {Threei}  if stays above 90
[15:28] {cipher} rbn drop again
[15:30] {cipher} +.33 rbn
[15:30] {Threei}  invalidated
[15:31] {dino} gj
[15:31] {cipher} thx
[15:33] {dino} thats a tough trader rbn, air pockets
[15:35] {cipher} yep didn't give much time for entry at the bottom
[15:41] {Threei}  patience-trying day
[15:41] {Threei}  but profitable
[15:42] {Threei}  and that's all I need
[15:42] {Threei}  there is weekend to excitment
[15:42] {Threei}  to = for
[15:42] {stewy} shovel snow?
[15:43] {Threei}  nope, rain will take care of that
[15:43] {dino} supposed to get 4" of snow tonight here
[15:44] {Threei}  our short blast of winter will be washed away today and tomrrow
[15:44] {Threei}  hopefully not to be seen for couple years
[15:45] {dino} we've been 4 degrees in mornings this week
[15:45] {dino} 4degrees f
[15:53] {Threei}  OK guys, let's take well desreved weekend
[15:53] {Threei}  thank you all
[15:53] {Threei}  have a great weekend, see you all Monday
[15:53] {rambler} thanks all..
[15:53] {Beau} and you Vad.
[15:53] {dino} thanks all, good time
[15:54] {cipher} cya
[15:54] {stewy} tanks vad
[15:54] {stewy} gd wknd to everyone