Tuesday, February 21, 2012

Feb 21 2012

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

Almost perfect day with one 7-cents wide stop and a lot of winning trades. One made Catch of the Day. If you went through the course mentioned above, you`ll recognize the setup easily.

Session Time: Tue Feb 21 00:00:00 2012
[08:56] {Threei}  - Eurogroup Finance Ministers agree to agree on Greece
[08:56] {Threei}  lol
[08:59] {MigC}  good morning
[09:00] {Threei}  Migc :)
[09:01] {Les} morning. anyone else got slow internet?
[09:01] {Threei}  hi Les
[09:01] {Threei}  looks good here
[09:02] {Les} must be the difference between US and Canada :)
[09:02] {Threei}  here is succinct version of the current state of afair, for those who didn't monitor the whole thing over the weekend:
[09:02] {Threei}  - European shares opened mixed and are trading lower as the highs from the Greek agreement wore off. The Eurozone ministers decided to extend a �130B bailout deal to avoid a Greek default. The deal combines a private sector haircut of 53.5% as opposed to the 50.5% agreed in October with ECB foregoing the profits from the Greek bondholdings. The agreement comes with permanent team of monitors so that Athens implements the austerity measures and an escrow account which will ensure that Greece holds three months worth of debt payments.
[09:03] {Threei}  The escrow is temporary however as Greece has agreed to change its constitution to make debt payment its priority. But the investors are worried over the long-term prospects of Greece. New elections in April in Greece may fuel fears that the new government will not be either able or willing to implement those measures. Social unrest, divisive policies and mutual mistrust between the Germans and the Greeks make the bailout unimpressive and signify that the crisis is far from over. Furthermore, some investors are critical that there is an absence over how Greek economy will grow in the future. The sentiment that this second bailout has merely bought more time has put pressure in the markets.
[09:03] {Threei}  end
[09:03] {Les} LOL changing the constitution to pay one's creditors...
[09:03] {Threei}  no kidding
[09:03] {Threei}  this process in US can take 20 years, lol
[09:12] {Les} test
[09:16] {Threei}  passed
[09:16] {Les} to this server, yes
[09:16] {Les} problems elsewhere
[09:22] {Threei}  Strauss-Kahn held by police in French prostitution probe.
[09:22] {rambler} gm...
[09:22] {Threei}  guy just can't stay away, can he
[09:22] {Threei}  rambler :)
[09:23] {thomcbell} comedy
[09:24] {dino} gm
[09:24] {Threei}  tbell, dino :)
[09:25] {Les} what's a frenchman to do?
[09:32] {Threei}  feeling is, let's start with shorts into bounce
[09:32] {Threei}  FCX, watching for double top
[09:32] {thomcbell} brcm looks interesting long
[09:33] {Threei}  .40 break?
[09:34] {Threei}  FCX no bounce
[09:34] {Threei} Long Setup:  LVS  .55 break
[09:34] {Threei}  half lot
[09:35] {Threei}  too fast...
[09:35] {nemo} oops
[09:36] {Les} took FCX for .18. could dt shortly
[09:37] {Threei}  yes, looks like finally coming there
[09:37] {Threei} Short Setup: FCX  .80 break
[09:37] {Threei}  if stays under .90
[09:38] {nemo} .85 holding
[09:39] {nemo} mmmhhhh, mirc not displaying
[09:39] {Threei}  ?
[09:40] {nemo} anf bid
[09:40] {Threei}  1:1
[09:42] {thomcbell} cien breaking low here
[09:42] {thomcbell} wynn strong as 10 men
[09:42] {Threei} Long Setup:  FCX  .60 break
[09:43] {Les} like frikin swiss clockwork. ty vad
[09:43] {Threei}  :)
[09:43] {dino} cov fcx +.14 ty vad
[09:43] {Threei}  welcome
[09:44] {dino} ctrp sm l .50
[09:44] {Threei}  welcomeout FCX long here
[09:44] {Threei}  umm
[09:44] {Threei}  out FCX long here in full
[09:45] {Threei} Long Setup:  LVS  .75 break half lot
[09:45] {nemo} took .71
[09:46] {Les} bad connection with Laser too shit
[09:46] {Threei}  aww, FCX 1:2
[09:46] {Threei}  didn't believe in it
[09:47] {nemo} 1:1 for me
[09:47] {Les} what server u on vad?
[09:47] {Threei}  SPY drops
[09:47] {Threei}  out LVS
[09:48] {Threei}  1
[09:48] {Les} ty
[09:49] {Threei}  good out
[09:49] {Threei}  would have turned in totally unnecessary stop
[09:49] {Les} XLE crashing RIG 50 b/d?
[09:50] {Threei}  looks good to me
[09:50] {Threei}  don't see news for this sudden breakdown
[09:53] {Les} aggressive entry .09 half out
[09:53] {Threei} Short Setup: SLW  .45 break
[09:54] {Threei}  stop .52
[09:54] {Les} 1:2 cover another quarter
[09:54] {Threei}  wtg
[09:55] {Threei}  half out SLW
[09:56] {nemo} IWM at WPP spy at trend .10 above daily Pivot
[09:57] {Threei}  RIG is a beauty
[09:57] {Threei}  out SLW
[09:58] {Les} all covered RIG for 1:6
[09:58] {Les} my kinda setup
[09:58] {Threei}  perfect
[09:58] {Threei} Short Setup: LVS  .50 break
[09:59] {thomcbell} cien now strong
[10:06] {Threei}  1:1
[10:08] {Threei} Short Setup: X  .45 break
[10:09] {Threei}  stop above .55
[10:09] {Threei}  should be good for 1:2 at least
[10:11] {Threei}  SPY sudden bout of happiness
[10:11] {Threei}  let's trail to .51
[10:12] {Threei}  out
[10:20] {Threei}  LVS had more in it...
[10:22] {dino} regn sm l .75
[10:24] {dino} stop -.27
[10:24] {nemo} I don't see any support dino
[10:24] {Les} CAT trying for 115
[10:24] {dino} 97.72 next
[10:24] {cipher} REGN L SM .31
[10:25] {nemo} next is 98.59 then 97.72
[10:25] {dino} damn rinsed
[10:25] {dino} showing 99.90 s2
[10:25] {cipher} out .79 +.48 thx dino
[10:27] {dino} gj
[10:27] {cipher} sorry for the rinse :-(
[10:27] {Threei}  wtg
[10:28] {Threei}  wow CAT
[10:28] {Threei}  wacching for bounce
[10:28] {cipher} cat l .70
[10:29] {cipher} out +.14 thx vad
[10:31] {Threei}  :)
[10:31] {thomcbell} long setup 84.81 trigger
[10:32] {cipher} wow cat had a lot more juice to squeeze
[10:33] {thomcbell} target 1:4
[10:34] {thomcbell} sorry APC it was
[10:34] {dino} sohu sm l .59
[10:37] {Les} XLK new all time highs
[10:38] {cipher} looks thick
[10:39] {dino} gild sm l .50
[10:40] {cipher} +.08 gild thx dino
[10:40] {dino} gj
[10:41] {cipher} you're a rock star
[10:41] {Threei}  very nice morning so far
[10:42] {Threei}  1 stop of a whooping 7 cents, the rest worked like charm
[10:42] {Threei}  LVS
[10:42] {Threei}  pullback entry
[10:42] {Threei} Long Setup:  LVS  .62
[10:43] {Threei}  if stays above .55
[10:43] {dino} :/
[10:44] {Threei} Short Setup: CAT  .30 break
[10:44] {Threei}  half lot
[10:44] {Threei}  if stays under .40
[10:44] {cipher} cat not shortable for me
[10:44] {cipher} always was
[10:45] {Threei}  invalidated anyway
[10:45] {Threei}  so is LVS
[10:46] {Threei}  change LVS to .60 break
[10:46] {Threei}  if stays above .50
[10:49] {Threei}  invalidated too
[10:49] {Threei}  SPY goes through consolidation, setups don't line up for the time being
[10:50] {dino} out ctrp .80, +.30
[10:50] {Threei}  wtg
[10:51] {dino} ty
[10:54] {Threei} Long Setup:  CAT  .50 break
[10:55] {Threei}  half lot
[10:55] {Threei}  if stays above .40
[10:55] {Threei}  target 1:2
[10:55] {Threei}  1:1, half out
[10:56] {Threei}  stop to .49
[10:56] {Threei}  LVS
[10:56] {Threei}  souble bottom
[10:56] {Threei}  double too
[10:57] {Threei}  .55 long
[10:57] {Threei}  if holding .50
[10:57] {Threei}  target .70 at least, maybe more
[10:57] {Threei}  will see as it moves
[10:57] {Threei}  half out .65
[10:58] {Threei}  should be capable of more
[10:58] {Threei}  let's try for .80
[10:58] {Threei}  stop to .54 for the balance
[10:58] {Threei}  move your butt CAT
[10:59] {Threei}  here kitty kitty
06[11:00] * Threei sprinkles cat food above .70
[11:00] {Threei}  there you go
[11:00] {Threei}  out
[11:01] {Threei}  your turn LVS
[11:01] {Threei}  stop to .59
[11:02] {Threei}  planned to sell 1/4 more around .75 but fell asleep for a half second, lol
[11:02] {Threei}  Tuesday after a long weekend... body is in conflict with organism
[11:02] {Threei}  out LVS
[11:02] {Threei}  oversat a bit
[11:02] {Threei}  OK{ you can breathe now
06[11:03] * Threei slaps pragmatic around a bit with a large alarm clock
[11:04] {Threei}  hmm... everybody fell asleep?
[11:05] {pragmatic} ?
[11:05] {pragmatic} what for?
[11:05] {Threei}  do I really need a reason?
[11:05] {Threei}  for our non-walking under the moon
[11:06] {pragmatic} ahh
[11:06] {pragmatic} in FCX s .24
[11:06] {Threei}  good one
[11:07] {Threei}  clean setup
[11:07] {pragmatic} last 100 shares, no idea where to exit
[11:07] {pragmatic} just trailing
[11:07] {Threei}  if you shared it with us, you'd be forgiven
[11:07] {Threei}  it's at support
[11:07] {Threei}  either cover or trail xloser
[11:08] {pragmatic} cover, need to go to work :(
[11:08] {Threei}  what was that siong...
[11:08] {Threei}  hi ho, hi ho, it's off to work we go
06[11:08] * pragmatic :)
[11:09] {Threei}  masgoo's fasvorite
[11:09] {pragmatic} you told me,you are not wathing Once Upon a time anymore
[11:09] {Threei}  ?
[11:09] {pragmatic} the song
[11:09] {Threei}  what does one have to do with other?
[11:09] {Threei}  this song is decades old
[11:10] {pragmatic} right, whatever. Tried to watchTheRiver #3 yesterday, stopped in 5 mins
[11:10] {Threei}  you are masochist
[11:10] {Threei} Short Setup: LVS  .50 break
06[11:11] * pragmatic lol
[11:11] {Threei}  just a scalp most likely
[11:11] {Threei}  unless SPY has ceisure
[11:12] {nemo} only .10 to support
[11:12] {Threei}  right, that's why scalp designation
[11:12] {Threei}  but if SPY does what it did around 9:50, can do 1:2
[11:13] {Threei}  bands tighten nicely
[11:15] {nemo} iwm at pivot
[11:18] {dino} regn sm l .44
[11:20] {Threei}  let's scracth LVS
[11:20] {Threei}  SPY is very unclear here
[11:20] {Threei}  and unclear meant up for the last few weeks
[11:25] {dino} stop regn -.02
[11:26] {Threei}  aww
[11:26] {Threei}  can I have my LVS back?
[11:27] {nemo} Kudos, Wall Street Journal, for a front-page read the other day on a bacon festival in Iowa on Saturday, a party that sold 4,000 tickets in 25 minutes. But as Jeannette Neumann reported, the organizers of the event were ready "for a bit of oinking from outsiders.'' Vegetarian doctors from Iowa worried about the long-term effects of eating bacon were out to promote the unhealthy side of
[11:27] {nemo} bacon, though it probably wasn't doing much good. One of the lectures at the event was: "How bacon is changing my life.''
[11:27] {Threei}  Vegetarian doctors from Iowa are out to lunch
[11:29] {Threei}  they'll be allowed to speak when broccoli fstival sells as many tickets
[11:30] {Threei}  grrr LVS
[11:32] {stewy} gd morning vad
[11:32] {Threei}  stewy :)
[11:33] {Threei}  deal with Greece is to be approved by all EU parlaments, private bondholders are still i negotiations and there is collective agreement clause coming... what vould possible go wrong?
[11:33] {Threei}  missed great morning stwey...
[11:33] {stewy} dang internets
[11:33] {stewy} att dsl connection kaput
[11:34] {Threei}  that may explain quite a few folks missing today
[11:34] {Threei}  Les complained about connection too
[11:36] {stewy} well, just in time for the lunchtime lull...
[11:37] {Threei} Long Setup:  LVS  .30 break
[11:37] {Threei}  if stays above .25 scalpers, .20 day traders
[11:39] {Threei}  scalpers feel free to exit here
[11:39] {Threei}  day traders 1:1
[11:39] {Threei}  Stewy Special for lunch
[11:40] {stewy} oh yea 1;1 partial thx
[11:40] {Threei}  feeling better? :)
[11:44] {nemo} mos long .51
[11:45] {nemo} scalp
[11:45] {nemo} tna close here, but want to wait until spy and iwm hit vwap
[11:46] {Threei}  unless you bought some for us, it's a bit late for us to benefit frpm that entrey :)
[11:46] {Threei}  entry
[11:46] {nemo} yeah, sorry I typed after entry...not up to your speed
[11:46] {nemo} vwap iwm is .45 spy is .71
[11:48] {nemo} don't think this will work
[11:48] {nemo} spy iwm dropping
[11:48] {andj} Good morning all...
[11:48] {nemo} think I'll play with bunny
[11:48] {Threei}  andj :)
[11:52] {nemo} fcx
[11:53] {Threei} Long Setup:  FCX  44 break
[11:53] {Threei}  if stays above .95
[11:53] {nemo} .93 is vwap
[11:53] {Threei}  unuduslly tight stop but that's how I respect the lunchtime lull
[11:53] {Threei}  unusually
[11:54] {Threei}  my typing is worse than normally today
[11:54] {nemo} svenia madka
[11:54] {Threei}  (if you can believe that)
[12:00] {nemo} long tna .52
[12:00] {nemo} stop .45
[12:01] {nemo} half out mos
[12:01] {nemo} not liking tna
[12:01] {nemo} was geting tired of watching mos
[12:02] {nemo} stop .54
[12:03] {nemo} 1/2 out tna .62
[12:04] {Threei}  (US) FHFA issues new strategic plan for GSEs and housing market; will help encourage private capital into the market
[12:04] {Threei}  - Plan to provide an infrastructure to handle the secondary mortgage markets and lower the role of Fannie and Freddie
[12:04] {Threei}  lol, the only worthny plan for GSEs is to kill them
[12:04] {Threei}  who went for FCX, feel free to take profit
[12:04] {stewy} yes
[12:06] {nemo} partialed mos again at .81 and tna at .82
[12:06] {nemo} last quarters for S&Gs
[12:07] {Threei}  nice one MOS
[12:07] {Threei}  S&G?
[12:08] {nemo} (S)hits and (G)iggles
[12:08] {Threei}  ahhh
[12:08] {nemo} what, there was something wrong with TNA?
[12:08] {stewy} out fcx + .15 thx!
[12:08] {Threei}  probably not but I didn't watch it
[12:08] {Threei}  welcome stewy
[12:09] {Threei}  despite missing the morning series of wins, you still catch some profitable ones
[12:09] {nemo} who? stewball?
[12:09] {stewy} good for the ego
[12:09] {stewy} tryin to stay disciilpined
[12:10] {stewy} and disciplined
[12:10] {Threei}  I am too but my discipline shutters when bacon smell starts flowing from the kitchen
[12:12] {Threei}  attempts to substitute it with broccoli disprove the theory that vegetables act as a pacifier... in fact, just the opposite
[12:12] {stewy} lvs taken 1;2
[12:14] {nemo} out mos last
[12:15] {nemo} .74
[12:23] {Threei} Short Setup: FCX  .20 break
[12:32] {Threei}  invalidated
[12:36] {Threei}  half lot trade:
[12:36] {Threei} Long Setup:  TZA  .30 break
[12:36] {Threei}  if stays above .20
[12:37] {Threei}  half lot because iof the lunchtime randomness
[12:37] {Threei}  there is a different way to play it though, now that I think about it
[12:38] {Threei}  full lot, stop/invalidation under .25
[12:38] {Threei}  target is .40 - .45
[12:41] {Threei}  vijay... of all days you had to be late today, when we are having the best winning streak
[12:42] {vijay} Sorry Vad. I work full time. It is an inspiration to watch you guys
[12:42] {vijay} trying to watch and learn
[12:42] {Threei}  understood...
[12:42] {dino} nflx drop
[12:42] {Threei}  it was the most effortless morrning I remember oer last couple weeks
[12:44] {dino} vsm l .00
[12:44] {dino} out .19, +1.09
[12:45] {cipher} gj
[12:45] {Threei}  wtg
[12:46] {dino} ty
[12:46] {cipher} i was too chicken to pull the trigger
[12:48] {dino} bit of luck
[12:49] {nemo} hate it when he says that
[12:50] {dino} bit of blood on algt, gap 49.87 area
[12:51] {dino} new lows nflx
[12:54] {cipher} l nflx.31
[12:55] {cipher} out .61
[12:55] {cipher} brb (changing diapers)
[12:55] {Threei}  to scratch TZA or not...
[12:55] {nemo} comcast launching nflx type service
[12:55] {Threei}  lol cipher
[12:55] {dino} lol cipher
[12:56] {nemo} don't forget the vaseline
[12:56] {Threei}  Netflix Inc Comcast said to be initiating a competitor to Netflix streaming- financial press
[12:56] {Threei}  - Plans to bundle a streaming video service called "Streampix" with some of its cable TV services for a $4.99/mo additional charge, and thus will be limited only to Comcast's existing 22.3M subscribers. The Streampix service will be available to subscribers through the web and on their mobile devices.
[12:56] {nemo} yeah...I just told comcast to GFT
[12:58] {Threei}  did they?
[12:59] {Threei}  or they preferred NFLX? :)
[13:00] {dino} nflx vsm l .10
[13:00] {dino} out 64, +.54
[13:00] {cipher} wtg
[13:01] {Threei}  nice
[13:01] {dino} definition of "pulp"
[13:01] {Threei}  finally TZA
[13:01] {Threei}  half out
[13:01] {Threei}  stop to .28
[13:12] {dino} nflx vsm l .40
[13:13] {dino} out .44 no like
[13:13] {cipher} nice bailout
[13:14] {dino} yeah, had dime, but..
[13:14] {Threei}  lol, is it a joke or a French politician really said that
[13:15] {Threei}  commenting on a Kahn latest news:
[13:15] {Threei}  "Ichallenge you to tell a naked prostitute from any other naked woman"
[13:15] {cipher} lol
[13:16] {Threei}  it's settled: if I ever get tempted to go in politics, it's going to be France
[13:16] {dino} vsm l .15 nflx
[13:16] {dino} stop -.25
[13:17] {Threei}  ah, it's his lawyer, not a politician
[13:17] {dino} rinsed
[13:18] {Threei}  http://www.bbc.co.uk/news/world-europe-17110618
[13:41] {Threei}  (PT) Portugal business, union and opposition leaders are putting pressure on the govt to renegotiate the terms of Portugal's �78B bail out deal - FT
[13:41] {Threei}  - Socialist Party leader Antonio Seguro is said to have told international lenders that Portugal needed "at least another year" to meet agreed fiscal targets.
[13:41] {Threei}  ***Reminder: Earlier this morning, German Fin Min Schaeuble said there was need to consider any change in Portugal's bailout program
[13:41] {Threei}  will this whole house of cards fall apart or they have enough duct tape to hold ot together?
[13:42] {nemo} history says they're fornicated
[13:42] {Threei}  I think so too...
[13:44] {Threei}  why sudden drop
[13:45] {RonS} ...people waking up to oil north of 106?
[13:51] {dino} regn drop
[13:54] {Threei}  this very minute Ron? :)
[13:55] {nemo} tza I htink
[14:00] {RonS} fed news?
[14:01] {Threei}  just minutes
[14:01] {Threei}  for Jan 23 meeting
[14:02] {Threei}  2 out of 3 voters in Michigan believe Santorum can beat Obama: Rasmussen
[14:02] {Threei}  what a delusional state it is then
[14:02] {RonS} well, how smart can they be...living in michigan...
[14:03] {RonS} decent waether about 60 days a year...
[14:03] {RonS} weather
[14:05] {RonS} interesting...http://tinyurl.com/7ue5w9r
03[14:09] * Retrieving #discussions modes...
[14:11] {Threei}  can we have our TZA back?
[14:13] {nemo} told ya'
[14:14] {nemo} don't hit me
[14:30] {Threei}  very unconvincing reaction on Greece bailout, don't you think
[14:30] {nemo} think oil has a bit to do with this also
[14:31] {dino} sm l algt .52 ave
[14:32] {dino} expected worse, sell the news
[14:34] {Threei}  breakdown is coming it looks like
[14:34] {Threei}  TZA .70 break uif you feel the same way
[14:34] {dino} so, now that they got the $$$, greece officially defaults after april elections
[14:34] {Threei}  most likely scenario, lol
[14:39] {Threei}  1:1, partial out
[14:39] {stewy} 1;1 partialled as well
[14:42] {Threei}  1/4 more near 1:2
[14:42] {Threei}  trying to ride this one
[14:43] {Threei}  it's a very nice breakdown, looks panicky
[14:43] {Threei}  and who loves a good panic more than we do
[14:54] {Threei}  out 1/4 more
[14:54] {Threei}  stop t .74
[14:55] {Threei}  here comes lovely panic which we hold so dear
[14:56] {stewy} too sublime
[14:56] {Threei}  that's me
[14:57] {Threei}  mr sublime
[15:01] {Threei}  http://goo.gl/8NGeF
[15:01] {stewy} nemo, question on your wpp charts:
[15:01] {stewy} is next wpp for spy at 135.75? am i readin that right?
[15:01] {nemo} approximately, yes
[15:02] {stewy} k thanks
[15:03] {stewy} vad, last lot in tza is a stop at .74?
[15:03] {Threei}  yes
[15:07] {Les} .
[15:07] {Threei}  oh boy
[15:08] {Threei}  Les, missed fantastic day...
[15:08] {Les} the last hour looks interesting
[15:09] {Les} any news?
[15:09] {Threei}  not really
[15:09] {Threei}  which makes it especially nice
[15:09] {Threei}  finishing in red after the long-awaited bailout, looks very inspiring to me
[15:10] {Les} anything but the meat grinder I experienced these last two weeks would be nice
[15:10] {Threei}  I am not sure why
[15:11] {Threei}  it wasn't anywhere that bad
[15:11] {Threei}  actually, whole last week was rather nice
[15:12] {Les} well it was for me, but also a good wake up call to be light on my feet, look at the bigger picture and tighten my play
[15:12] {Les} today was much better
[15:13] {Threei}  stop to .79
[15:14] {Les} FDX out of favour. Not a good sign for market
[15:15] {Les} FCX 44 b/d?
[15:16] {Threei}  yup
[15:16] {dino} out algt ave .94, +.42
[15:16] {Threei}  wtg
[15:16] {dino} ty
[15:25] {Les} LVS 53
[15:33] {Les} fcx 1:1
[15:33] {Threei}  FCX 1:1
[15:33] {Threei}  can do no wrong day
[15:43] {stewy} out tza thx vad
[15:43] {stewy} and nemo for the prodding
[15:43] {Threei}  welcome
[15:44] {stewy} i'm doing a jig now:)
[15:44] {stewy} a taoist jig
[15:44] {Threei}  lol
[15:44] {stewy} not moving a muscle
[15:44] {stewy} it's all in my head
[15:44] {Threei}  not in tutu i hope
[15:49] {dino} lol
[15:50] {Threei}  OK guys, thank you sll
[15:50] {Les} cheers
[15:50] {Threei}  have a great evening
[15:51] {Threei}  see you tomorrow
[15:51] {stewy} good night everyone