Tuesday, February 7, 2012

Feb 07 2012

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

Carbon copy of yesterday - fair and somewhat boring day. Profit is profit, no complaints.

Session Time: Tue Feb 07 00:00:00 2012
[08:48] {Threei}  tough decision: open left eyes first or right...
[09:02] {Les} afternoon all
[09:02] {Threei}  Les :)
[09:04] {Les} Did I ever suggest that you should consider trading European markets Vad?
[09:04] {Threei}  no
[09:04] {Threei}  why?
[09:04] {Threei}  so I have 24 hours working day?
[09:04] {Les} a joke. Actually I did along time ago.
[09:04] {Les} yes
[09:05] {Threei}  great, that's exactly what I want
[09:05] {Threei}  just in case there are still emtpy hours, can we also add HK, Australia and NZ?
[09:06] {Les} China, definitely
[09:11] {MigC}  good morning
[09:12] {Threei}  Migc :)
[09:14] {Threei}  I think we need to keep tradition alive, and open the day with Greek headline
[09:14] {Threei}  GR) Greece PM Papademos to meet with party leaders regarding decision on fiscal rules at 14:00 ET (19:00 GMT)**Note the time being push back from the earlier speculation that it would occur at 15:00 GMT
[09:19] {ese} gm
[09:19] {Threei}  ese :)
[09:21] {beau} good morning
[09:22] {ese} b
[09:22] {Threei}  beau :)
[09:24] {Threei}  my bias oscillates from long to short whole morning
[09:24] {Threei}  still can't decide
[09:29] {rambler} gm...
[09:29] {Threei}  ,ost likely first is long
[09:29] {Threei}  rambler :)
[09:29] {Threei} Long Setup:  FCX  .50 break
[09:29] {Threei}  half lot of course
[09:30] {Threei}  if stays above .40
[09:30] {Threei}  invalidated for now
[09:31] {Threei}  .40 break new trigger
[09:31] {Threei}  if holding .30
[09:31] {Threei}  in on pullback
[09:31] {Threei}  target 1:2
[09:33] {Threei}  1:1
[09:33] {Threei}  half out, stop to .37
[09:34] {Threei}  scalpers win
[09:35] {Threei} Long Setup:  ARIA  .90 break
[09:35] {Threei}  if stays above .85
[09:37] {Threei} Short Setup: SLW  .70 break
[09:38] {Threei}  stop above .75 scalpers, .80 day traders
[09:38] {ese} L HGSI .92
[09:38] {Threei} Short Setup: LVS  .30 break
[09:39] {Threei}  invalidated
[09:39] {ese} out 1/2 .01 +.09
[09:40] {Les} nemo's a quitter
[09:40] {ese} lol
[09:40] {ese} dems fightin words neer as ah canfigur
[09:41] {Threei} Short Setup: LVS  .50 break
[09:41] {Threei}  .56 stop
[09:42] {nemo} bernanke speaking at 10
[09:43] {Threei}  LVS half out .440
[09:43] {Threei}  .40
[09:43] {ese} stop to b/e hgsi .03
[09:43] {Threei}  stop to .51
[09:44] {Threei}  SLW 1:1
[09:44] {Threei}  half out
[09:48] {Threei}  stop .71 of course
[09:49] {Threei}  LVS interesting battle
[09:50] {Threei}  we win so far
[09:50] {dino} mon sm l .85
[09:51] {Threei}  good boy SLW
[09:51] {Threei}  stop to .65
[09:51] {Threei}  bidding 1/4 at .50
[09:51] {Les} lvs .50 long?
[09:52] {Threei}  half lot..
[09:52] {Threei}  still have half lot short
[09:53] {Les} will work with some 100 share lots to get up and running.
[09:53] {Threei}  cool beans
[09:54] {Threei}  SLW looks weaker and weaker
[09:54] {Threei}  little market help, it sholuld die horrible deatth
[09:55] {Threei}  1:2
[09:55] {Threei}  1/4 more out, stop to .61
[09:56] {Threei}  LVS stop to .46 now
[09:56] {Threei}  1:2
[09:56] {Threei}  out
[09:57] {Threei}  aww, too soon
[09:58] {Les} fcx bounce?
[09:59] {Threei}  .75 break
[09:59] {Threei} Long Setup:  FCX  .75 break
[09:59] {dino} .75 trg imo
[09:59] {Threei}  if stays above ,65
[09:59] {dino} bvsn drop
[09:59] {Threei}  target 1:2
[10:00] {Threei}  SLW closed
[10:01] {Threei} Short Setup: X  .55 break
[10:01] {Threei}  half lot
[10:02] {Threei}  no go FCX
[10:02] {Threei}  X, if stays under .65
[10:04] {Threei}  1:1
[10:04] {Threei}  (GR) German Chancellor Merkel believes Troika report on Greece to be ready by Thursday, Feb 9th - financial press
[10:04] {Threei}  lol
[10:06] {stewy} gd morning everyone
[10:07] {Threei}  stewy :)
[10:08] {Threei}  1:2
[10:09] {Threei}  out
[10:09] {Threei}  (GR) Greece to annnounce details of debt deal following meeting with party leaders at 1900GMT - financial press
[10:09] {Threei}  - PM Papademos to meet with IIF's Dallara before the meeting at 1630 GMT
[10:09] {Threei}  - Greece Cabinet plans meeting for tommorow to approve the loan deal
[10:23] {cipher} ibm l .72
[10:24] {_mark1} just want to let you know shld moving again
[10:24] {dino} ssys
[10:25] {_mark1} you think ssys ready for l
[10:26] {nemo} low volume
[10:26] {_mark1} well moved up in the meantime lol
[10:26] {cipher} out .81 +.08 not working
[10:28] {Les} huge offer .30 lvs
[10:31] {cipher} ssys l .07
[10:34] {dino} out mon flat
[10:35] {cipher} out .40 +.33 thx dino
[10:35] {Threei}  wtg
[10:36] {cipher} ty
[10:40] {dino} gj
[10:46] {dino} crr sm l .00 gappy
[10:46] {Les} SPY pivot resistance here
[10:47] {dino} simo sm l .80
[10:49] {Threei} Long Setup:  FCX  46 break
[10:49] {Threei}  if stays above .90
[10:50] {RonS} jnpr spike
[10:51] {Threei}  1:1
[10:51] {Threei}  nice and easy
[10:51] {cipher} +.20 crr thx dino
[10:52] {cipher} thx vad fcx
[10:53] {Threei}  :)
[10:53] {Threei}  my favorite kind
[10:54] {Threei}  just went to the traget with no resistanve, meekly
[10:54] {dino} simo stop -.13
[10:54] {Thomcbell} cstr 60.01 break
[10:54] {Thomcbell} half lot
[10:55] {nemo} did you get it
[10:56] {Thomcbell} 59.80 stop
[10:56] {Thomcbell} had to pay up to 60.05
[10:56] {cipher} +.19 cstr thx thomcbell
[10:56] {cipher} good one
[10:56] {nemo} should be good to .50, market looks like it's going to rip
[10:57] {cipher} i like easy money, no patience today
[10:57] {Threei}  I like easy money always
[11:00] {Thomcbell} out cstr
[11:00] {Thomcbell} only a quarter partial
[11:00] {cipher} l cstr .73
[11:01] {cipher} out .93 +.20
[11:02] {cipher} wtf happened with cstr?
[11:02] {dino} gj
[11:02] {dino} earnings
[11:02] {cipher} oh
[11:02] {Threei}  "stuff"
[11:02] {Threei}  lol
[11:02] {cipher} crazy
[11:06] {cipher} l cstr.93
[11:07] {cipher} out .19 +.26
[11:08] {Threei}  man... your trading style requires significant stock of fresh diapers
[11:08] {cipher} i like instant feedback... sitting on positions is boring
[11:09] {cipher} but diapers sometimes help :-)
[11:09] {dino} simo sm l .70
[11:14] {cipher} l ibm .03
[11:16] {cipher} out .24 +.21
[11:38] {andj} Good morning everyone...
[11:38] {Threei}  andj :)
[11:38] {andj} Threei...I started reading 111 trades last night.  It's good.
[11:39] {Threei}  :)
[11:39] {cipher} ccr l .95
[11:40] {cipher} crr
[11:42] {cipher} out .02 +.07
[11:51] {Threei}  trying to find reversal point
[11:51] {Threei} Short Setup: RIMM  .90 break
[11:51] {Threei}  just a scalp
[11:58] {Threei}  feel free to cover here
[11:58] {Threei}  can't stand the siren song of easy money
[11:58] {cipher} i like this scalp
[11:58] {cipher} thx
[11:58] {Threei}  :)
[11:58] {Threei}  no resistance whatsoever, proceeds meekly to the target
[11:59] {stewy} nice sclap thx
[11:59] {Threei}  welcome
[12:00] {RonS} simo sm l .00
[12:13] {Thomcbell} slw 36.50 break
[12:13] {Thomcbell} short
[12:13] {Thomcbell} if holds 36.60
[12:18] {Threei}  OK, while there are no trades, I have to ask you guys this
[12:18] {Threei}  I get my tablet, ASUS transformer Prime, great thing,
[12:19] {Threei}  I need some accessories for it, particularly a protective case and mini-hdmi cable
[12:19] {Threei}  I find both on ebay,
[12:19] {Threei}  case from china, cable form US
[12:19] {Threei}  free shipping on both
[12:19] {Threei}  I buy them the same day
[12:20] {Threei}  case arrives from china in 1 week
[12:20] {Threei}  little casble from US - nowhere close
[12:20] {Threei}  how on green eart is it possible?
[12:24] {Threei} Short Setup: YUM  .70 break
[12:24] {Threei}  if stays under .80
[12:27] {RonS} out simo -.05...lol...Gridlock in NYC today giddy Wall St firms pepper the Giants with shredded incriminating documents.
[12:27] {Threei}  invalidated
[12:33] {cipher} simo blood
[12:34] {stewy} vad, does hal have makings of a c & h?
[12:36] {Threei}  too narrow for my taste
[12:37] {Threei}  formally chart figures that way
[12:37] {Threei}  but look at the cup depth
[12:37] {Threei}  handle too
[12:37] {Threei}  I am not sure there is a room for even 10 cents move
[12:37] {stewy} ok, thanks.
[12:41] {dino} simo odd, beats, raises, pops and then crashes
[12:42] {dino} gap around16.32
[12:54] {cipher} l simo .00
[12:56] {cipher} out 1/2 .19
[12:57] {RonS} gj
[12:59] {cipher} out rest .30
[13:00] {cipher} too soon
[13:19] {Threei}  (GR) Political leaders meeting in Greece pushed back to Wednesday from 1900GMT
[13:19] {Threei}  but of course
[13:20] {dino} shocking
[13:22] {Threei}  I think it's time to start taking bets on whwther it takes place tomorrow or pushes to Thu
[13:23] {Les} ADI vad u seeing a setup short here?
[13:23] {dino} monday
[13:23] {Threei} Short Setup: YUM  65 break
[13:23] {Thomcbell} that slw -
[13:24] {Threei}  for 5-7 cents scalp only, Les
[13:24] {Threei}  very narrow
[13:26] {stewy} took it right there?
[13:27] {Threei}  ?
[13:28] {Threei}  stop 65.06
[13:29] {Threei}  hah... you know how they explain the delay?
[13:29] {Threei}  cites delay in disseminating draft of agreement to the leaders
[13:29] {Threei}  so, trimming down all those jiobs left them with no couriers
[13:38] {nemo} disseminating or inseminating
[13:38] {stewy} got the yum scalp thanks
[13:39] {Threei}  cover half YUM here... unless you are a scalper with no regard for anything but the money already landed in your pocket
[13:39] {Threei}  yes, that
[13:39] {Threei}  :)
[13:39] {Threei}  once again, easy money
[13:39] {Threei}  my favorite kind...
[13:40] {Threei}  5 cens risk
[13:40] {dino} cov yum  +.10 ty vad
[13:40] {Threei}  yw
[13:43] {Les} ZNGA 13 breakdown Vad?
[13:44] {Threei}  nah
[13:44] {Threei}  I'll stay away from this
[13:44] {Les} :(
[13:44] {Les} ?
[13:44] {Threei}  narrow, slow, low volume
[13:44] {Les} ok
[13:44] {Threei}  I also doubt you can short it
[13:45] {Threei}  it's s till yuond IPO
[13:45] {Threei}  young
[13:46] {stewy} lvs breaking down
[13:47] {Threei}  YUM 1:2, me out
[13:47] {Threei}  me be finally triumphing over p[esky scalpers
[13:48] {Les} that sorta day was it?
[13:52] {Thomcbell} lvs double bottom setup Vadimir?
[13:53] {Threei}  got away
[13:53] {Threei}  too far
[13:53] {Threei}  aww, YUM 1:3
[13:53] {nemo} Whose Vladimir?
[13:54] {Thomcbell} i know - Vad
[13:54] {dino} the implaler
[13:54] {nemo} Mr Tepes to you
[13:54] {Thomcbell} trying to entertain myself
[13:54] {nemo} DON'T!!!   Set me up like that!
[13:55] {Les} have at 'im
[13:55] {nemo} I promised Vad
[13:56] {Threei}  I am amazed that prmise stopped you
[13:56] {nemo} if it were Les, that's another story
[13:57] {Les} I was gonna call Nemo a cross eyed git, but then I remembered the list...
[13:58] {nemo} what is a "git"
[13:58] {Les} http://www.thefreedictionary.com/git
[13:59] {stewy} nemo, you ever watched monty python?
[14:00] {nemo} We've spoken about Many a Monty skit here NOOB!
[14:00] {Les} what's a noob?
[14:00] {nemo} having said that, I have extensive brain damage
[14:00] {stewy} but of course
[14:00] {Les} knob I can understand... as in you're a knob!
[14:00] {nemo} Noob=newbie
[14:01] {nemo} Mmmmhhh....I kinda' am a git
[14:01] {Les} all in good fun of course, but yeh...
[14:02] {Les} I've missed being here...
[14:02] {stewy} 'holy grail' was on the telly last night...
[14:02] {stewy} hadn't seen it in years
[14:02] {nemo} I have that saved to my computer
[14:02] {nemo} are you a niggit?
[14:03] {nemo} kniggit actually
[14:03] {Les} LVS Vad. If it returns to near 51 do we look for new long entry?
[14:03] {stewy} oh no my friend
[14:03] {Threei}  yes, but watvh for it turning into inverted C&H
[14:04] {Les} ok. Daily chart says short this sucker if the setup is right
[14:04] {Threei}  true
[14:07] {cipher} s znga 00
[14:08] {cipher} cov .89 +.11
[14:12] {dino} gj
[14:13] {cipher} Les should get the credit for this one
[14:13] {cipher} thx
[14:13] {nemo} oh jeez....don't do that
[14:14] {Threei}  lol
[14:16] {dino} wlt drop
[14:16] {Les} :)
[14:18] {Threei}  local public libraries start speed-dating
[14:18] {Threei}  talk about confusion
[14:18] {nemo} Yeah, "Wanna' take a walk in the stacks?"
[14:19] {Threei}  http://goo.gl/0ofLl
[14:19] {Threei}  If you're single and age 60+, grab your favourite book and come to the library for a whirlwind of match-making conversation!
[14:19] {Les} "you can slip your digits into my book anytime big boy" :P
[14:19] {Threei}  ok,,, here is my promise:
[14:20] {Threei}  if when I am 60 I find it interesting, I shoot mysefl
[14:20] {Threei}  nemo, if I forget, would you take care of this?
[14:20] {nemo} I'll do it for ya
[14:20] {Threei}  thank you
[14:20] {Les} well cats don't count Vad
[14:20] {nemo} I'll use a shotgun and I'll have you bend over so I hit your brain first
[14:21] {Threei}  so, our prime minister is in China, selling oil
[14:21] {Threei}  that same your president turned down
[14:22] {nemo} yep
[14:27] {Les} Vad FCX .74 breakdown?
[14:27] {Threei}  I think so
[14:27] {nemo} support at .70
[14:28] {Les} I see .65
[14:29] {Les} .80 or .85 stop?
[14:30] {Threei}  .81
[14:30] {Threei}  keep it tight and safe
[14:34] {nemo} market stopped trading
[14:37] {_rahulprakash1} hello
[14:37] {nemo} namaste
[14:37] {nemo} oohh...that was out of character for me
[14:37] {_rahulprakash1} namaste ji
[14:37] {_rahulprakash1} lol
[14:38] {Threei}  hello rahul
[14:38] {_rahulprakash1} hey threei
[14:38] {_rahulprakash1} new here so thought i'd say hi :)
[14:39] {Les} wow Nemo I'm impressed
[14:39] {nemo} why?
[14:39] {Les} respect and some cultural education
[14:39] {nemo} as I said..hehehehehe
[14:39] {Threei}  welcome to the jungle, rahul
[14:39] {_rahulprakash1} ty
[14:39] {nemo} remember, one of my closest associates is an exorcist
[14:46] {Les} anyone got a 4x2 handy for FCX?
[14:48] {Threei}  yes
06[14:49] * Threei is hitting FCX over the head with 2x4
[14:49] {Threei}  1:1
[14:49] {Les} nice timing onthat hit thank you. out
[15:00] {Threei}  *(US) DEC CONSUMER CREDIT: $19.3B V $7.0BE
[15:00] {Threei}  so, mark, rahul, vijay... how do you like our asylum?
[15:02] {_rahulprakash1} its quiet with not much noise...and that's very nice :)
[15:02] {Threei}  that's only while nemo is sober...
[15:03] {_rahulprakash1} just my second day here, but most of the calls move very fast, not giving a chance for entry...at least to me
[15:03] {_rahulprakash1} and for many I can't see the patterns that are talked about in the courses and books sent to me
[15:04] {Threei}  executions is a matter of right software and practice
[15:04] {_rahulprakash1} seems that you are working at more micro level than a 1min chart like u see something on L2 & T&Sales...which i can't
[15:04] {Threei}  chart patterns - ask
[15:04] {Threei}  no, all calls are based on 1 min charts
[15:04] {_rahulprakash1} ok i will ask away
[15:05] {Threei}  latest one, FCX, .75 break - you see DBI?
[15:05] {Les} outta here. thanks all. tomorrow.
[15:05] {Threei}  take care les
[15:08] {_rahulprakash1} what time was the call, i don't see it
[15:09] {Threei}  14:27] {Les} Vad FCX .74 breakdown?
[15:09] {Threei}  [14:27] {Threei} I think so
[15:10] {_rahulprakash1} oh didnt realize it was a call...didn't have standard format. let me look at chart
[15:10] {stewy} cya les
[15:10] {Threei}  just a trade we discussed that worked out nicely
[15:11] {Threei}  Les spotted it, not me, so no official format'but he spotted same setup as we often use
[15:11] {Threei}  RIMM before that was the same
[15:11] {_rahulprakash1} yep i see the breakdown setup on that
[15:15] {beau} rimm now?
[15:17] {Threei}  not dure
[15:22] {RonS} US House Energy and Commerce panel votes 33-20 to advance plan to fast-track Keystone XL Pipeline; bill heads to full House
[15:27] {nemo} it will get vetoed at Obama's desk, and will never get through Reed's senate
[15:29] {Threei}  that's the idea
[15:29] {Threei}  it's not designed to pass
[15:29] {Threei}  it's designed to score political points
[15:30] {nemo} yeah, but it won't get any pub
[15:30] {nemo} only Fox will talk about it
[15:30] {Threei}  it will during election
[15:30] {nemo} nope
[15:30] {beau} bet it will be approved after election
[15:31] {Threei}  how do you make a contender not to make it a point during debates?
[15:31] {nemo} depends on who wins the election...plus if the Canadians have already closed a deal with the Chinese, it's dead
[15:31] {Threei}  hard to say
[15:32] {Threei}  I think Canada has a way to leave the door open
[15:32] {beau} will be but more voters will approve change in route.
[15:32] {RonS} ...would be a tough sonofagun to punch a pipeline over those mountains...
[15:33] {beau} I live at the Texas end.  Oil execs here and Houston say will be after election
[15:34] {dino} look crr, drops to 91 and bounces to 96
[15:34] {dino} lots of stocks are doing these crazy ass moves lately
[15:41] {RonS} lol...Madonna was carried into the Super Bowl by muscle-bound men, good thing, as the Patriots would have dropped her.
[15:42] {Threei}  lol
[15:45] {cipher} cat hod
[15:55] {Threei}  OK guys, thank you all
[15:55] {Threei}  have a good evening, see you tomorrow
[15:56] {stewy} gd night vad
[15:56] {stewy} cya all tomorrow