Monday, February 6, 2012

Feb 06 2012

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


Solid and fair day, with stops tightly controlled and profitable trades ranging from scalps to 1:3.



Session Time: Mon Feb 06 00:00:00 2012
[09:02] {Threei}  OK...
[09:02] {Threei}  nowhere to go but to the work...
[09:06] {MigC}  good morning
[09:06] {Threei}  Migc :)
[09:07] {dino} gm
[09:07] {Threei}  oh, in case you haven't guessed yet:
[09:07] {Threei}  ?(GR) Greek political party leader meeting with PM Papademos said to be delayed until Tuesday, Feb 7th
[09:07] {Threei}  dino :)
[09:07] {dino} saw that, the delays continue
[09:08] {Threei}  Now, here comes the part where irony meets tragedy:
[09:08] {Threei}  Earlier reports indicated that the Greek leadership were close to agreeing to an average 20% cut in minimum wage, bonus payments look to be untouched
[09:08] {Threei}  burger-flippers get 20% cut, elite has binuses untouched
[09:09] {Les} and all is normal with the world...
[09:09] {Threei}  yup
[09:09] {Les} morning
[09:09] {Threei}  "whatever your normal is"?
[09:10] {Les} well I don't see my bonus...
[09:10] {Threei}  you European may not get it, it's a line from popular commercial here in NA
[09:10] {Threei}  :)
[09:10] {Les} oh ok
[09:10] {Les} ZNGA, what price premarket?
[09:11] {Threei}  13.25
[09:11] {Les} merci
[09:11] {Threei}  http://www.youtube.com/watch?v=_YEHQP2qU6I
[09:11] {Threei}  last line
[09:13] {rambler} morning
[09:14] {Threei}  rambler :)
[09:14] {RonS} gm...qotd from joe fahmy:  NY Giants Upgraded to Outperform at 5 firms this morning...once again, the analysts are always late
[09:15] {Threei}  lol
[09:15] {Threei}  morning ron
[09:16] {ese} morning
[09:16] {Threei}  ese :)
[09:16] {ese} anyone on this board from the Ottawa area
[09:17] {ese} that would be a no I guess
[09:17] {RonS} hey ese, say jeff beck on the dtv palladia channel playing some club
[09:17] {Threei}  just about 4000 km...
[09:17] {Les} wait ese, just looking ottawa up on a map
[09:17] {beau} good morning you all
[09:17] {Threei}  beau :)
[09:17] {ese} lol
[09:18] {Threei}  lol les
[09:18] {RonS} him, his daughter on bass i would guess, and a drummer that was exremely fluid
[09:18] {RonS} beck has definitely moved to my top three of all guitar players...
[09:19] {RonS} hendrix, stevie ray there also...
[09:19] {stewy} gd morning
[09:19] {ese} the young lady on bass was 16/18...not his daughter......Tal is her name...can't remember last name
[09:20] {Threei}  stewy :)
[09:20] {ese} was that the show from London with Vinnie Coliuta on Drums
[09:20] {Threei}  no clear feel for the direction yet
[09:21] {Threei}  market acts on the latest headline
[09:21] {RonS} beck was faughning (sis?) over her so thought it had to be his daughter
[09:21] {RonS} sic
[09:21] {nemo} Tal something
[09:21] {Threei}  and with Greece moment of truth approaching, not many seem to willing to bet too heavily
[09:21] {nemo} Tal Wilkenfeld
[09:21] {ese} ya....can't remember her last name
[09:22] {ese} thank you
[09:22] {ese} amazing talent
[09:23] {nemo} nice Jewish Australian girl
[09:24] {ese} yup
[09:24] {RonS} ha!...The Greek Deadline for this assignment is Tuesday - so hand it in on Thursday, or never. Whatever."
[09:28] {Threei}  LVS, waiting for a long entry
[09:28] {Threei}  FCX, most likely short
[09:28] {Threei}  no clear triggers yet
[09:28] {stewy} is your primary cue for lvs this close in premkt activity?
[09:29] {Threei}  rather it's amazing strenght last week
[09:29] {stewy} ok
[09:29] {Threei}  given any chance, it should try and retest the high
[09:30] {Threei}  and with market finding strenght, make new one
[09:30] {Threei}  first trades are half lot
[09:33] {Threei} Short Setup: FCX  46 break
[09:33] {Threei}  if stays under .10
[09:34] {Threei} Long Setup:  LVS  .60 break
[09:34] {Threei}  if stays above .50
[09:35] {Threei}  LVS invalidated, looking for another entrey
[09:35] {Threei}  FCX target 1:2 if got it
[09:35] {Threei} Long Setup:  LVS  .50 break
[09:36] {Threei}  if stays above .40
[09:36] {Threei}  FCX 1:1
[09:36] {Threei}  was very nice of it to give second chance
[09:36] {Threei}  LVS target 1:3
[09:36] {Threei}  1:1, first part out
[09:37] {Threei}  FCX, scalpers win
[09:37] {Threei}  stop to .44 LVS
[09:38] {Threei}  to .49 now
[09:38] {Threei}  1:2
[09:38] {Threei}  1:3 target hit
[09:39] {Threei}  my a$$ is out
[09:39] {stewy} wow nice
[09:39] {stewy} don't go home yet
[09:39] {Threei}  no??
[09:40] {Threei} Short Setup: SLW  .30 break
[09:40] {Threei}  if stays under .35
[09:41] {Threei}  scalping stop but not scalping target
[09:41] {Threei}  if works, aiming for .10 or so
[09:42] {Threei}  FCX, .10 break was worth long eh
[09:42] {Thomcbell} lvs lovely Vad
[09:42] {Threei}  nicely looking setup, I just was hesitant about its morning volatil,ity
[09:42] {Threei}  ty
[09:43] {Threei}  SLW, first partial around .20
[09:44] {Threei}  no go
[09:46] {Threei} Short Setup: SKX  .70 break
[09:46] {Threei}  if stays under .80
[09:47] {Threei}  LVS
[09:47] {Threei} Long Setup:  KVS  52 break
[09:47] {Threei}  if holding .90
[09:48] {Threei}  LVS of course
[09:48] {Threei}  sorry
[09:48] {dino} unh sm l .25
[09:48] {Threei}  fat fingers
[09:49] {Threei}  1:1, but good luck getting a fill
[09:49] {Threei}  unless you were in before the break, no chance
[09:50] {Threei}  [09:29] {Threei} given any chance, it should try and retest the high
[09:50] {Threei}  [09:30] {Threei} and with market finding strenght, make new one
[09:50] {Threei}  plays out the scenario to the t
[09:50] {stewy} vg
[09:52] {Threei}  SKX invalidated
[09:53] {Threei} Short Setup: FCX  .20 break
[09:53] {Threei}  if SPY drops fast, take it aggressively
[09:56] {dino} out unh -.10
[09:56] {Threei}  ugh... just needed to recalibrate SKX to .80
[09:57] {Threei}  FCX stop to .26
[09:57] {Threei}  SPY sudden bout of enthusiasm
[09:59] {Thomcbell} now it looks more interesting if it breaks 46.14
[10:00] {Threei}  out
[10:00] {Threei} Long Setup:  RCL  .60 break
[10:01] {Threei}  if stays above .50
[10:01] {Thomcbell} gdx beast
[10:01] {Threei}  market wants new highs
[10:02] {Thomcbell} auy 17.04 break
[10:02] {Thomcbell} if holds 16.96
[10:03] {dino} ew sm l .78 ave
[10:03] {nemo} lotta' jerking around this morning
[10:04] {Les} CVX 105 break interest ya?
[10:04] {Threei}  yes
[10:04] {Threei}  looks very nice
[10:10] {Les} SPY respects 5 dma and pivot 134.31 resistance
[10:10] {Les} for now
[10:10] {Threei} Short Setup: GDX  .40 break
[10:10] {RonS} mon blood
[10:11] {Threei}  if stays under .50
[10:11] {Threei}  80 break was a beautful setop on MON, didn't see it at the time
[10:11] {Les} POT might follow MON. Interesting here
[10:12] {Threei}  GDX 1:1
[10:13] {dino} mon sm l .90
[10:14] {dino} hum blood
[10:15] {cipher} hum good one dino thx
[10:15] {dino} hum bearts and raises?
[10:16] {Threei}  no, lowers guidance
[10:17] {Threei}  - Guides Q1 $1.35-1.45 v $1.81e. - Adjusts FY12 guidance to $7.50-7.70 v $7.99e
[10:17] {dino} raised i see
[10:18] {dino} ok
[10:18] {Threei}  (PT) Portugal is said to have denied earlier reports that it had hired advisors to study a debt restructuring plan - financial press
[10:18] {Threei}  ***Note that on Feb 4th, Lazard declines comment on speculation it has been hired by Portugal's government. On Feb 4th, it was reported that Portugal was said to have "sounded out" advisers in relation to options to restructure its debt.
[10:18] {Threei}  now tat it's officially denied, we know it's true
[10:19] {Les} die POT
[10:20] {Les} stood there thinking about ZNGA 9:48 .60 b/d. I ain't gonna think twice
[10:21] {Threei} Short Setup: RIMM  .45 break
[10:24] {dino} ew to .15
[10:24] {dino} to .22
[10:25] {Threei}  can't tell whether it's a scalp or capable of more
[10:25] {Threei}  presonal decision
[10:25] {dino} out .18,
[10:25] {dino} +.40
[10:25] {Threei}  wtg
[10:25] {cipher} wtg
[10:26] {dino} ty
[10:27] {Les} CVX took its time
[10:30] {Thomcbell} nxpi 21.89 break if holds 21.77
[10:33] {Threei} Short Setup: LVS  52 break
[10:33] {Threei}  if stays under .05
[10:34] {Threei}  target 1:3, 1:4
[10:35] {Threei}  first partial here
[10:35] {Threei}  .02
[10:35] {Threei}  stop to .01
[10:37] {Threei}  feel free to cover in full
[10:37] {Threei}  easy smooth trade
[10:38] {stewy} yes got 1;2 thx
[10:38] {Threei}  yw
[10:38] {cipher} LVS nice vad thx
[10:39] {Threei}  :)
[10:39] {Les} yeh that was nicely done. just before what looks like market going to sleep.
[10:40] {Threei}  I sense we may get less sleep today than usually
[10:40] {Les} sellers market?
[10:40] {_mark1} nice call on lvs
[10:40] {Threei}  ty
[10:41] {Threei}  sellers market - as in bull or bear market?
[10:41] {Les} no. thinking of selling accellerating
[10:41] {Les} towards EoD
[10:41] {Threei}  unclear terminology to me... in housing, "sellers market" refers to a bull, where sellers dictate price :)
[10:41] {Les} uh sorry
[10:42] {Les} there I go, talking like a newbie again
[10:42] {Threei}  but for today yes, I feel bears take charge
[10:42] {Threei}  well, at least till next headline annoicing greece deal in 3 min
[10:42] {_mark1} did not see the full fall on lvs thought i was good taking .15 lol
[10:43] {Threei}  yeah, it went beyond expwctations
[10:43] {Threei}  wow
[10:43] {Threei}  all that for 5 cents risk?
[10:44] {stewy} cvx gd call thx took 1;2
[10:44] {Threei}  I am ready to hit myself with 2x4 over the head
[10:44] {Threei}  wtg, that was very nice chart on CVX
[10:45] {Threei}  watching LVS for bounce scalp
[10:46] {Threei}  got away
[10:50] {Threei} Short Setup: SLW  .60 break
[10:51] {Threei}  target about .45, stop .67
[10:53] {Threei}  (PT) Portugal PM: Current Portuguese debt load is sustainable and not similar to Greece
[10:53] {Threei}  yeah yeah
[10:54] {Threei}  the only sustainable debt on the planet is Antarctica's
[10:55] {nemo} yeah, Penguins are very thrifty
[10:55] {Threei}  and pay in hard currency
[10:56] {Threei}  no go SLW
[11:00] {_mark1} lvs bouncing higher than i though any thoughts
[11:00] {dino} sncr sm l .00
[11:04] {Threei}  market changed the tune
[11:05] {Les} what's WYNN's story? why the divergence from LVS and MGM. potential db
[11:05] {dino} missed numbers friday
[11:05] {Les} ok
[11:06] {Threei}  observing for now, no feel for the next turn
[11:06] {dino} acom blood
[11:07] {Thomcbell} nxpi boring me to tears but 1:1
[11:09] {Threei}  yawn all the way to the bank
[11:09] {RonS} wynn reported worse numbers les...
[11:09] {Les} ty
[11:10] {Les} Luxembourg Prime Minister Jean-Claude Juncker: "If we were to conclude that everything is going wrong in Greece, then there won't be any new aid program, which would mean that Greece will have to declare bankruptcy in March."
[11:10] {Les} huh, takes two to tango
[11:16] {dino} mon stop -.31
[11:17] {Threei} Short Setup: POT  .80 break
[11:17] {Threei}  if stays under .85
[11:17] {Thomcbell} cvx molto bene
[11:21] {Les} GMCR Vad - there a setup here?
[11:22] {Threei}  not sure
[11:22] {_mark1} what is your targer three
[11:22] {Threei}  it's tightening nicely, and will make a move sioon,
[11:23] {Threei}  but I can't give any preference to a direction
[11:23] {_mark1} what is the target to cover?
[11:23] {Threei}  POT? about 1:2, 1:3 if market really helps
[11:23] {dino} sncr to .51
[11:23] {nemo} it's weaving around it's vwap
[11:24] {_mark1} ok 1:2?
[11:24] {Threei}  ?
[11:24] {dino} out sncr .54, +.54
[11:25] {Threei}  wtg
[11:25] {Les} nice
[11:25] {dino} thx
[11:28] {Threei}  first partial here
[11:28] {Threei}  scalpers feel free to take profit and be happy
[11:29] {Threei}  now, you know the name iof that river in Egypt?
[11:29] {Threei}  here it is:
[11:29] {Threei}  (GR) German Chancellor Merkel: Reiterates that "we refuse to acknowledge Greek bankruptcy" as a possibility - tv interview
[11:29] {cipher} +.19 acom thx dino
[11:30] {_mark1} three nice call on pot so far dont know what chart you got it off of although so i might learn something
[11:30] {Threei}  I can just see her throwing tantrum, stomping the floor with her feet: "No!, No!, No Greece bankruptsy, no!!"
[11:30] {dino} gj cipher
[11:31] {Threei}  1:2 POT
[11:31] {Threei}  mark... off 1 min :)
[11:31] {_mark1} k i am using 15 and 4 on slow sch.
[11:32] {stewy} ok pot scalp taken thx
[11:32] {dino} i think greek bankruptcy puts lots of banks into insolvency
[11:32] {Les} but the panic run on Italy could...
[11:33] {Threei}  yeah, the threat is two-fold... fallout of default itself and contagion
[11:34] {Threei}  they'd be probably able to withstand it if it were Greece itself, isolated
[11:35] {Les} sorry dino, thought you said "I *don't* think Greek bankruptcy..."
[11:35] {dino} np
[11:36] {Threei}  POT over 1:3, get out
[11:36] {Les} It's the contagion that I fear
[11:39] {Les} I see market very close to testing SNB 1.20 CHFEUR resolve. Swiss Franc continues to be in demand from Euro holders...
[11:43] {dino} nflx
[11:43] {nemo} yeah
[11:46] {_mark1} why nflx got vol all of a sudeen
[11:46] {Threei}  news
[11:46] {Threei}  Netflix Inc Hearing recent strength attributed to circulation of industry speculation that the new Apple TV could include NFLX functionality- For more: http://www.cultofmac.com/144564/best-buy-predicts-42-inch-apple-hdtv-in-customer-survey/
[11:47] {_mark1} oh tysm
[12:02] {dino} superbowl leftovers for lunch. the big sandwich
[12:02] {Les} ah yes I remember that Simpsons episode...
[12:03] {_mark1} i think nflx going down from here any opinons?
[12:03] {dino} it's a short killer since 2012'
[12:05] {_mark1} man could have gotton quick .60 off that but no here the clucking
[12:07] {Les} The setup was there but limited to 200 shares tops for my risk control. .50 stop a bit big...
[12:07] {dino} lol
[12:08] {_mark1} was looking for about 125.14 right there but what do i know
[12:09] {Les} Difference between me here 14 months ago and now, I don't wanna hit hot stocks.
[12:09] {Les} But I do enjoy watching Magoo hit 'em hard
[12:09] {Threei}  (GR) Greece govt said to have reached a deal to trim 15K workers - world press
[12:10] {_mark1} thanks les :(
[12:10] {Threei}  15K workers: we don't think so
[12:11] {Threei} Short Setup: MON  .60 break
[12:11] {nemo} oy at lunch in a dull market
[12:11] {_mark1} anyone watching lvs think going up here?
[12:12] {dino} i was thinki8ng long mon here
[12:13] {nemo} I'm thinking of sleeping it off
[12:13] {Thomcbell} raising stop to 21.85 on nxpi
[12:13] {dino} seems i was wrong
[12:13] {RonS} depressed, eh, nemo?
[12:13] {dino} tough loss nemo'
[12:14] {_mark1} you thinking about .41 on cover three?
[12:14] {Threei}  half out MON
[12:14] {nemo} not really, objectively, and I think I said it last week, I thought it were more likely the Giants win
[12:14] {Threei}  at least
[12:14] {Threei}  will try to partial 1/4 there
[12:14] {nemo} Especially if the Gronkanator was useless
[12:14] {Threei}  stop to .62
[12:14] {nemo} Having said that, I didn't think Brady would pull some of the shit he did
[12:15] {dino} gj
[12:15] {Threei}  ty
[12:16] {Les} everyone's got their edge Mark. I've learnt mine the hard way. :)
[12:17] {_mark1} ok nobody watching lvs going up
[12:18] {Threei}  is it obligatory? :)
[12:20] {_mark1} no i know someone was trading it and just wanted to see if i see what they see?
[12:20] {Les} http://www.spiegel.de/international/bild-813662-312845.html
[12:21] {Les} the view down on the lake. F&%ç this global warming shit
[12:21] {Threei}  our approach is based on setups, mark
[12:21] {Threei}  there is setup, we are interested
[12:21] {Threei}  movement without one is not of much use for us
[12:24] {Les} Vad speaks of my first time round here Mark. Hit everything that moved. Blew myself up. But walked away with some understanding...
[12:24] {nemo} idix
[12:25] {Les} what are you? Magoo's twin?
[12:25] {Threei}  speaking of magoo... ETA if end of Feb, beginning of March
[12:26] {Threei}  if = is
[12:26] {_mark1} no on 1 minute saw on slow 15 4 crossing and on fast crossing up also
[12:26] {nemo} Les whou you accusing of being Magoo?
[12:27] {_mark1} me
[12:28] {_mark1} im ok with it, learning asking questions of what chart setup you might use so i might learn from it also
[12:32] {_mark1} cause mon looks like it wants some up right here
[12:32] {_mark1} but want to see what i am seeing wrong
[12:38] {stewy} vad did you hang on to last half of mon?
[12:39] {dino} hstm drop
[12:40] {Threei}  just out last piece
[12:40] {Threei}  a bit early
[12:40] {Threei}  covered at .30
[12:40] {Threei}  but whatever
[12:40] {Threei}  nice day is a nice day
[12:40] {_mark1} nice call
[12:40] {Threei}  sin to complain
[12:43] {dino} algt sm l .00 trgger
[12:43] {Les} missed SLB .70 break, watching 79 break
[12:46] {Threei} Short Setup: LVS  .70 break
[12:46] {Threei}  if stays under .75
[12:46] {Threei}  just a scalp
[12:47] {Threei}  not copunting on much here, anything under .65 is fair target to cover
[12:49] {Threei}  invalidated
[12:52] {RonS} took algt .00 to .45  thanks dino
[12:52] {dino} gj
[12:53] {Threei}  nice
[12:54] {dino} out algt .60, +.60
[12:54] {RonS} wtg
[12:55] {cipher} wtg
[12:55] {dino} ty
[12:55] {dino} opps only 100 out at .60
[12:55] {dino} there it goes
[13:05] {Les} SLB 79 break vad?
[13:06] {Les} SPY dropping though
[13:07] {Threei}  chart's right...
[13:07] {Threei}  eother market helps and it triggers, or not and it invalidates
[13:15] {Threei}  scalped?
[13:15] {Threei}  holding?
[13:15] {Threei}  partialed?
[13:15] {Threei}  fell in coma?
[13:17] {dino} pcar l .85
[13:18] {cipher} wow algt
[13:18] {dino} mhs drop
[13:30] {RonS} Medco $MHS, Express Scripts $ESRX shares plunge as FTC collecting evidence to block deal -Reuters
[13:31] {RonS} wag spike off this
[13:39] {dino} esrx vsm l .25
[13:43] {Threei}  (IR) White House's Carney: US plans to increase the pressure on Iran, levy new sanctions
[13:44] {Threei}  Iran: Nooooo... more sanctions??
[13:45] {Threei} Short Setup: LVS  .40 break
[13:45] {dino} esrx out
[13:49] {Threei}  want to change LVS to aggressive entry
[13:49] {Threei} Short Setup: LVS  .50 break
[13:49] {Threei}  if stays under .55 for scalpers, .60 day traders
[13:52] {Threei}  in
[13:52] {Threei}  market reversed down
[13:53] {Threei}  want to take it even more aggressive
[13:53] {Threei}  .61 stop
[13:53] {Threei}  small risk
[13:53] {Threei}  no worky
[13:56] {andj} Good morning...
[13:57] {Threei}  morning andj
[13:57] {andj} How was your weekend?
[13:57] {Threei}  sunny
[14:08] {Les} GMCR back to 69
[14:32] {Threei} Long Setup:  SLW  36 brea
[14:32] {Threei}  if stays above .95
[14:36] {nemo} chop chop chop chop chop chop chop chop
[14:37] {Threei}  that's why I keep stops this tight
[14:37] {nemo} virgin stops?
[14:38] {stewy} .
[14:43] {Threei}  salmon so far
[14:44] {Threei}  needs SPY bounce to explode
[14:44] {Threei}  "iksplode" is right spelling though, I believe
[14:45] {Les} NEMO LOOK UP
[14:49] {Threei}  no go
[14:51] {Les} goddamn that guy. Is anyone close enough to kick him for me?
[14:51] {Threei}  Barclays, Standard Chartered and Lloyds are said to have not borrowed funds from the ECB in the three-year LTRO auction; citing associated stigma will accessing the program - financial press
[14:51] {Threei}  - Report indicates that "almost every" major bank in France, Spain and Italy borrowed funds from the ECB in the three-year LTRO.
[14:51] {Threei}  - HSBC did access the pgoram
[14:52] {Threei}  pgoram? I could give them typing lessons
[14:59] {dino} pcar stop -.13
[15:00] {Les} fcx finding resistance at yesterday's close.
[15:05] {dino} simo l .50
[15:11] {Les} fcx reversal looking good
[15:13] {Les} lvs back to .40 and lod
[15:15] {Threei}  yup, same setup about to became valid again
[15:15] {Threei}  let's see if it consolidates
[15:23] {Les} lvs looking better this time for short setup
[15:23] {Threei} Short Setup: LVS  .40 break
[15:28] {Threei}  perdsonal preference, I'll try for more than scalp
[15:28] {Les} looking at .20 - .15
[15:29] {Threei}  half out
[15:29] {Threei}  stop to .41
[15:30] {stewy} scalp taken thanksyou
[15:30] {Threei}  :)
[15:30] {Les} like sex. The reality is never quite as interesting as the fantasy...
[15:31] {Les} enough chop for me. outta here. c u tomorrow
[15:31] {Threei}  hmmm... my condolences
[15:31] {nemo} lvs at pivot probbly gonna stay around here going into the close
[15:31] {Threei}  take care Les
[15:32] {nemo} No less no more
[15:34] {dino} simo to b/e, back in ten
[15:51] {stewy} a good monday, huh vad?
[15:53] {Threei}  pretty much
[15:53] {Threei}  not earthsuttering, but fair and solid
[15:55] {Threei}  in case you had any dioubts:
[15:55] {Threei}  (GR) Greece Fin Min Venizelos: Talks with the Troika are continuing
[15:55] {Threei}  lol
[15:56] {Threei}  OK guys, thank you all
[15:56] {Threei}  have a great evening, see you tonmorrow
[15:57] {stewy} thanks, good night everyone.