Thursday, March 8, 2012

Mar 08 2012

 6 calls, 6 wins. Need I say more?

 Session Time: Thu Mar 08 00:00:00 2012
 [09:00] {nemo} another frickin' gap up day
[09:01] {Threei}  FCX sliding down pre-market...
[09:19] {MigC}  good morning
[09:19] {Threei}  ,igc :)
[09:20] {Les} morning
[09:20] {Threei}  les :)
[09:20] {Les}
[09:21] {Les} something toaist in this, if true
[09:21] {Threei}  se we did him a favor?
[09:21] {Les} yeh America always gets its man
[09:21] {Threei}  Greece gov't said to announce PSI results Friday, March 9th at 01:00 ET
[09:22] {Threei}  Former ECB member Stark commented in the German press that the quality of ECB balance sheet was alarming Stark noted that the Eurosystem's balance sheet was not only gigantic in its dimension but also alarming in its quality.
[09:22] {Beau} good morning
[09:22] {Les} Bundesbank is reportedly on the hook for $500B as it stands now
[09:22] {Threei}  beau :)
[09:24] {Threei}  feels like all this market ramp-up to tomorrow's Greece PSI resolution will end up in selling, whatever the result isd
[09:24] {rambler} gm..
[09:24] {Threei}  rambler :)
[09:30] {Threei} Short Setup: FCX  .65 break
[09:31] {Threei}  stop above .75
[09:31] {nemo} I'm expecting the market to rise to resistance
[09:32] {Threei}  target 1:2
[09:32] {Threei}  1:1
[09:32] {Threei}  half out
[09:32] {Threei}  stop to .66
[09:33] {Threei} Short Setup: SLW  .90 break
[09:34] {Threei}  if stays under 36
[09:37] {Threei}  SLW 1:1
[09:37] {Threei}  let's trail FCX to .62
[09:40] {Threei}  FCX 1:2
[09:40] {Threei}  SLW 1:2
[09:40] {Threei}  closed both
[09:41] {Threei}  not too shabby for 10 min work
[09:41] {Les} FDX setup vad?
[09:42] {Threei}  .50 break short, yes
[09:42] {Threei}  not seeing much on a long side
[09:42] {Les} ok
[09:42] {Threei}  but it's too far from there
[09:43] {Les} yeh ignoring it for now
[09:43] {Threei}  LVS want long entry on pullback
[09:45] {Les} Dino missed PANL too bad
[09:45] {ese} morning
[09:45] {Threei}  ese :)
[09:45] {Les} morning ese
[09:45] {ese} L ipsu .90
[09:45] {Threei} Long Setup:  TNA  .40 break
[09:45] {Threei}  half lot
[09:46] {nemo} spy at resistance
[09:46] {ese} out .04 +14
[09:46] {Threei}  if it reverses, TNA won't trigger
[09:46] {Threei}  wtg ese
[09:46] {nemo} spy has to break likely for tna to go
[09:46] {Threei}  right
[09:47] {Threei}  and sun rises in the east
[09:47] {ese} ya qick 2k hit
[09:47] {ese} quick
[09:47] {nemo} plants are photosynthetic
[09:47] {Threei}  no botany allowed
[09:47] {nemo} o.k.   bears shit in the woods
[09:47] {ese} and so will my stock trading ability eventually
[09:47] {Threei} Short Setup: LVS  55 break half lot
[09:48] {Threei}  stop above .10
[09:48] {Threei}  TNA is of course invalidated
[09:49] {Threei}  look at LVS 1 min... is it a classic double top right from the course pages or what
[09:49] {thomcbell} long setup - AIG 28.62 break if holds 28.50
[09:50] {Threei}  lower second top, BBs, tails, whole nine yeard
[09:50] {Threei}  I like it tbell
[09:51] {Threei}  clean chart
[09:51] {dino} smtc sm s .99
[09:53] {dino} cov .65, +.34 smtc
[09:53] {Threei}  gj
[09:53] {ese} dino....whadaya think on DNDN...dn 2 bills
[09:53] {ese} of
[09:53] {dino} let me look, any news?
[09:54] {ese} just checkin
[09:54] {dino} jnj drug better prostate
[09:54] {Threei}  there is JNJ news that in some way are connected
[09:54] {dino} nav sm s .00
[09:55] {thomcbell} aig invalid
[09:55] {ese} hmmmm am readin it but don't understand it
[09:55] {Threei}  *NOTE: DNDN shares moving lower on the potential competitive threat to its Provenge prostate cancer drug.
[09:55] {ese} ahhh
[09:55] {cipher} smtc . 69
[09:55] {cipher} long
[09:56] {dino} nav stop -.10
[09:57] {Threei}  hard to tell on LVS, scratch it if nervous
[09:57] {ese} dam dam dam......crap had my finger on trigger thld....and it shoots
[09:57] {Threei}  I'll hold
[09:57] {Threei}  half lot position, with two 1:2 wins earlier
[09:57] {dino} nav rinsed
[09:57] {ese} dndn vad?
[09:57] {Threei}  ?
[09:57] {ese} the 1/2 position
[09:58] {dino} nav sm l .95
[09:58] {Threei}  no, commenting on LVS short
[09:58] {ese} oh lvs
[09:58] {ese} sory
[09:58] {Threei}  I hate DNDN
[09:58] {ese} lol
[09:58] {Threei}  this kind of charts are often a real damaged goods on bios
[09:58] {cipher} smtc stopped .64 -.05
[09:58] {thomcbell} aig still on my watch list long 
[09:59] {thomcbell} tremendous volume and stock holds up ok 
[09:59] {Threei}  this is very nice risk control on such stock, cipher
[09:59] {thomcbell} ridiculous volume 
[09:59] {thomcbell} no pattern oobviously 
[09:59] {Threei}  in fact, if DNDN loses 9 I'd look to short it
[09:59] {thomcbell} as u would say vad
[10:00] {Threei}  only if I couldn't find the way to misspell it, tbell...
[10:00] {thomcbell} lol
[10:00] {Threei}  :)
[10:00] {dino} what phase was jnj drug trial?
[10:00] {dino} 1, 2, 3?
[10:01] {dino} jah spike
[10:01] {ese} doesn't say in the release i'm lookin at
[10:01] {dino} nor mine
[10:02] {Threei}  the only thing re timikng in it:
[10:02] {Threei}  ZYTIGA has not been approved for use in men with metastatic CRPC who have not yet received chemotherapy. The company plans to submit for regulatory approval in the United States and around the world beginning in the second half of 2012.
[10:02] {Threei}  woohooo
[10:02] {Threei}  LVS 1:1
[10:02] {Threei}  took its sweet time
[10:02] {dino} careful 07 red
[10:03] {ese} nice one chief
[10:03] {Threei}  3 for 3
[10:03] {thomcbell} long setup AIG 28.51 if holds 28.36 Vad?
[10:03] {thomcbell} Vad - ?
[10:03] {dino} deck stomped again
[10:04] {Threei}  if holding above .40 I think, tbell
[10:04] {Threei}  higher second bottom would strenghten this setup
[10:04] {thomcbell} ok thanks 
[10:04] {Threei}  seriously though, what's with volume on this thing??
[10:05] {Threei}  through the roof
[10:05] {thomcbell} us treasury - selling part of its stake at 29
[10:05] {thomcbell} 200mm shares or something 
[10:05] {Threei}  but it says "sold"
[10:05] {Threei}  release time 9:21
[10:06] {Threei}  so it's not today's volume
[10:06] {Threei}  regret of this morning: not taking TZA .10 break
[10:07] {Les} amen
[10:07] {Threei}  see 9:50 setup?
[10:07] {thomcbell} unsure Vad on that AIG question
[10:07] {Threei}  yeah
[10:08] {thomcbell} fcx has much more fight than i would think 
[10:08] {thomcbell} so dont think right?
[10:08] {Threei}  hehe
[10:08] {Threei}  you got it
[10:09] {Threei}  it results in hair loss, sever headaches, diahrrea and financial losses
[10:09] {nemo} what?  marriage?
[10:09] {Les} sounds like market investor
[10:09] {Threei}  thinking nemo
[10:11] {Les} never would beat finding nemo as a title
[10:11] {Threei}  1:2 LVS, out
[10:12] {Threei}  life's good
[10:13] {Les} tna l .16
[10:13] {Les} if holding .10
[10:13] {Threei}  hmmm
[10:13] {Threei}  what indicates market being ready to reverse?
[10:13] {Threei}  feels like quite steady selling to me
[10:14] {Les} out .20 & .25
[10:14] {Les} all out
[10:14] {Les} .10 half pivot support
[10:14] {Les} quick bounce is all
[10:14] {Threei}  ah OK
[10:14] {Threei}  thought you are on a hunt for something major
[10:14] {Les} could be setting up
[10:14] {Les} maybe a db here
[10:15] {Les} would cement a setup
[10:17] {Threei} Long Setup:  AIG  .50 break
[10:17] {Threei}  if stays above .40
[10:18] {Threei}  tbell's baby
[10:18] {Threei}  shaped up nicely
[10:19] {thomcbell} im there 
[10:19] {nemo} iwm not following spy 
[10:21] {Les} lol FDX short setup was on the money
[10:21] {Les} I was looking long
[10:21] {Threei}  told ya
[10:21] {Threei}  but did you listen?
[10:21] {Threei}  nooooooo
[10:22] {Threei}  I have Kassandra syndrome
[10:22] {Threei}  or Cassandra
[10:22] {Threei}  whatever
[10:22] {Les} thinking maybe russian cassandra with K
[10:23] {Threei}  yes
[10:23] {Threei}  come on AIG... 1 cent from 1:1??
[10:25] {Les} so we see market didn't want to give back yesterday, instead waiting for here. TZA 1:5 and counting...
[10:25] {dino} system crashed
[10:25] {dino} stopped nav -.30
[10:25] {Threei}  gremlins?
[10:25] {dino} sm l nbl .88
[10:25] {Threei}  or magoo pours honey in your gas tank
[10:25] {dino} yeah, i run the room on a 6 year old computer, so we are starting to have problems
[10:30] {dino} ung drop
[10:30] {Threei}  yeah, nat gas numbers released
[10:31] {Threei}  less drop in inventories than expected
[10:32] {Threei}  let's trail AIG stop to .44
[10:32] {thomcbell} agreed Vad - thanks
[10:32] {thomcbell} thru 28.61 gets interesting on long side
[10:33] {Threei}  Met Police confirm controlled explosion on 'suspicious package' at Trafalgar Square, London
[10:34] {dino} deck sm l .05
[10:40] {Threei}  1:1
[10:41] {Threei}  that's 4 for 4
[10:41] {thomcbell} Vad take a look for me INVN 16.91 long setup 
[10:41] {thomcbell} if holds 16.80
[10:42] {thomcbell} invalid
[10:42] {Threei}  yesh, something's wrong with it
[10:42] {Threei}  slowed down greatly
[10:42] {Threei}  and trades in a strange impulses
[10:48] {dino} out deck .50, +.45
[10:48] {Threei}  nice
[10:48] {dino} thx
[10:48] {Threei}  UNG, one of the most effective widowmakers I've ever seen
[10:49] {dino} out nbl ave .23, +.35
[10:49] {Les} aikido time. back for close
[10:51] {dino} nav sm l .76
[10:54] {dino} out nav .05, +.30
[10:55] {thomcbell} aig stop to 28.49 in my opinion
[10:56] {ese} am outta here for italy ....2 weeks.....good trading all  cya
[10:56] {dino} cya ese
[10:56] {ese} cya dino
[10:58] {thomcbell} nice 
[10:58] {dino} meli sm l .05
[11:08] {dino} meli partoal out .75, +.70
[11:12] {Threei}  wtg
[11:13] {dino} thx
[11:13] {dino} remainder out ave .88, +.83
[11:19] {Threei}  killing it today dino
[11:21] {dino} just lucky, had a list prepared
[11:29] {andj} Good morning
[11:30] {andj} Hey vad...what do you think about a short on mnro?
[11:30] {Threei}  morning andj
[11:30] {Threei}  chart wise looks good
[11:31] {Threei}  a bit too narrow for my taste
[11:31] {Threei}  but valid idea
[11:31] {andj} volume you mean?
[11:31] {Threei}  low volume one
[11:31] {Threei}  low volume and narrow daily range
[11:31] {thomcbell} aig 1:2
[11:31] {dino} gj
[11:31] {Threei}  nice AIG
[11:32] {thomcbell} tu guys
[11:32] {rambler} Tks that one...
[11:32] {andj} what would be better volume then?
[11:33] {thomcbell} yw
[11:33] {Threei}  higher volume consistent prints so it doesn't look like it trades by appointment
[11:33] {andj} It's starting to sink in a bit now Vad...
[11:41] {thomcbell} raising stop to 28.64 on balance
[11:41] {thomcbell} aig
[11:41] {thomcbell} although  i feel it has some more in it and dont want to get shaken out 
[11:43] {Threei}  .64 is just right stop
[11:44] {Threei}  The S&P500 and Nasdaq are racking up steady gains this morning, with the Greek debt exchange apparently headed for success. The most recent headlines suggest that the participation rate has topped the key 75% level, further bolstering gains.
[11:45] {dino} wsm sm l .95
[11:45] {Threei}  MNRO works andj
[11:46] {Threei}  not that I'd have taken the trade but wanted you to see that the idea was there
[11:52] {Threei} Long Setup:  YUM  67 break
[11:52] {Threei}  if stays above .90
[11:56] {thomcbell} out aoig
[11:56] {thomcbell} aig
[11:56] {Beau} gj tbell
[12:02] {thomcbell} tu
[12:03] {Threei}  funny place I live in:
[12:03] {Threei}  100-year-old driver stopped for speeding
[12:04] {Threei}  The centenarian was stopped for speeding in a school zone Tuesday, a shock to a Saanich traffic officer when she saw the 1911 birthdate on a driver�s licence, which was good for another five years. Man had flawless driving record
[12:06] {vijay} Hi Vad, how does FOSL look for a short break .20?
[12:06] {Threei}  it's under .10 already
[12:06] {Threei}  too thin
[12:07] {Threei}  I'd suggest you look for stocks with narrower spreads
[12:08] {vijay} mmm ok thanks Sir.
[12:08] {nemo} lunchtime too
[12:09] {Threei}  look how little it took to send FOSL 40 cents down
[12:09] {Threei}  nice if you are on the right side, but how do you control the risk if it moves against you
[12:09] {vijay} true
[12:10] {vijay} but chart wise was my analysis OK?
[12:10] {vijay} trying to learn
[12:10] {Threei}  oh yes, chart looked totally fine
[12:10] {Threei}  begged to be shorted
[12:11] {Threei}  thisd is dino's kind fo stocks
[12:11] {Threei}  pulp
[12:13] {vijay} thx
[12:13] {vijay} thx
[12:18] {dino} wsm stopped while making lunch, -.30
[12:19] {nemo} figures...fosl bounced right at vwap]
[12:22] {dino} that fosl's fast
[12:22] {nemo} always
[12:26] {nemo} wanna try the same thing with GMCR throw a bid in at .50
[12:26] {nemo} vwap .47
[12:29] {Beau} vad do you see more than 10 on yum
[12:29] {Threei}  very possible
[12:29] {Threei}  will partial and trail
[12:30] {cipher} are you in nemo?
[12:38] {dino} wsm l .50
06[12:44] * Threei wakes up, kicks YUM in the rear with army boots and falls asleep again
[12:45] {dino} out wsm .76, +.26
[12:45] {Threei}  1:1 baby
[12:45] {Threei}  violence works as always
[12:46] {Threei}  thank you nemo for teaching me virtues of violence
06[12:46] * Threei slaps nemo around a bit with a large trout
[12:46] {Threei}  playing by the book - half out, stop trailed to under b/e
[12:47] {Threei}  5 for 5
[12:47] {Threei}  picky and effective
[12:48] {Threei}  1:2
[12:48] {Threei}  1/4 more out
[12:48] {Threei}  stop to .09
[12:48] {rambler} out YUM, tks Vad...
[12:48] {Threei}  welcome sir
[12:48] {Threei}  btw rambler
[12:48] {rambler}  got WSM, tks dino...
[12:48] {Threei}  next Fri I'll drive by your neck of the woods
[12:49] {rambler} come for a visit...
[12:49] {Threei}  booked an weekend in Parksville
[12:49] {Threei}  thank you... I'll honk :)
[12:49] {rambler} Ti Namara...?
[12:49] {Threei}  no, something else... don't remember
[12:50] {rambler} my fav is 'Costa Lotta' 
[12:51] {Threei}  qualicum beach
[12:51] {Threei}  ?
[12:51] {Beau} you have legal gambling, casinos and such?
[12:51] {rambler} I think a little farther up...
[12:52] {Threei}  yes but not much in that venue.. I think island has one casino
[12:52] {rambler} just kidding about the 'fav' part....just the name...
[12:53] {rambler} my wife stays at a lot of different places if you need a recy....
[12:53] {Threei}  ty
[12:54] {Threei}  trying to win a photocontest for the weekend in May in Painter's, Campbell River :)
[12:54] {nemo} frickin' buyer in anf
[12:55] {rambler} excellent...I've been to Painters....nice spot...
[12:58] {dino} gj rambler, wsm
[12:59] {rambler} worked like a charm to watch when that happens...
[13:03] {dino} nice when a plan comes together
[13:05] {Beau} thanks on yum vad
[13:05] {Threei}  :)
[13:05] {dino} 1364 filled
[13:11] {nemo} anf dropped and then retook the level, might be long
[13:29] {nemo} market might die until the jobs nmber tomorrow, that should push us over 138 on the spy
[13:39] {Threei}  total stall
[13:47] {vijay} F looks like short ?
[13:47] {Threei}  yes but notice how narrow its trading range is
[13:47] {Threei}  your room for pofit is what, 5 centsz?
[13:47] {Threei}  7 if you are lucky
[13:48] {vijay} mmm ok
[13:48] {vijay} get it
[13:48] {Threei}  thisd is typicsl scalp type 1 stock
[13:48] {nemo} we're walking Quartely level in spy, and just about touched Quarterly level on IWM
[13:48] {Threei}  if you are scalping big shares, small move - F is ideal for this
[13:49] {vijay} ok
[14:07] {dino} stmp?
[14:07] {dino} sm s .75
[14:09] {dino} stop .00 -.25
[14:18] {dino} rinsed
[14:20] {Threei}  vijay... this is about where you'd be covering your 5K shares short F
[14:20] {nemo} why such a small lot?
[14:21] {dino} stmp sm s .73
[14:22] {Threei}  ok, 20K
[14:27] {vijay} I get it....
[14:48] {rambler} STMP not budging....
[14:49] {dino} just thinking the same thing.
[14:50] {rambler} what is called a negative divergence...?
[14:50] {Threei}  in what context?
[14:51] {rambler} SPY climbs, STMP does not...
[14:51] {Les} giddyup as dino would say
[14:51] {Threei}  ok, lol
[14:51] {rambler} it wants down...
[14:51] {Threei}  GR) Investor participation in Greece debt swap deal pushing above 90% - Greece financial ress- Most recent reports indicated participation was near 85%
[14:55] {dino} stmp stop is hod
[14:58] {dino} dieeeee stmp dieeeeeeeeeeee
[14:58] {rambler} frickin' thing is stubborn...
[15:04] {rambler} well, the 8 dma has crossed below the 20 dma so shall
[15:06] {rambler} not listening...
[15:07] {dino} problem is our short entry should've been .99 to .70
[15:08] {rambler} hindsight makes everything so clear...
[15:09] {dino} lol, indeed.
[15:09] {Threei}  I even special-ordered trading glasses once, with word "Hindsight" engraved at the lenses...
[15:10] {dino} think they were for different kind of (be)hind
[15:11] {rambler} lol..
[15:15] {Les} s stmp .87
[15:18] {Les} received new Nikon 18x binoculars today, just in time for full moon. awesome view...
[15:18] {Les} tripod mounted for stability
[15:19] {Les} and a G12 as well.
[15:19] {Les} Santa came late this year for me...
[15:20] {Les} Canon G12
[15:26] {Les} plenty of bearish divergence. indexes and usual suspects
[15:26] {Les} not sure what its good for though...
[15:26] {Threei}  it's a decent high end point and shoot
[15:27] {Les} saves me switching lenses on the bigger SLR
[15:28] {Threei}  at a cost... :)
[15:28] {Les} bought a diving case for it too. Gonna try it out at the pool this weekend
[15:28] {Threei}  so, let's try and decipher last 30 min
[15:28] {Threei}  drop or locked?
[15:29] {Threei}  I think TZA .65 break worth a try
[15:29] {Threei}  has a good chance for something like .75 - .78
[15:34] {Les} I'm in. stop under .58?
[15:34] {Threei}  yup
[15:34] {Threei}  with 5 wins, can I afford one stop?
[15:36] {Les} half out
[15:37] {Threei}  just don't trail to b/e, IMO
[15:37] {Threei}  keep it at .59
[15:37] {Threei}  worst case scenario it will be a wash
[15:37] {Les} yeh 3 min MACD says downtrend is good, even as they try a wiggle here
[15:38] {Les} yet S&P just found support marked by Nemo above 137
[15:43] {nemo} weird how Goldman isn't up much today
[15:46] {Threei}  you are right
[15:46] {nemo} about what?
[15:46] {Threei}  I'd expect GS to be much stronger on such day
[15:46] {nemo} yeah, makes me wonder about: 1) the jobs report and 2) Greece
[15:46] {Threei}  gosh... I better don't make such long pause as 3 min talking to you... memory span is one of a moth {G}
[15:47] {nemo} got it from you
[15:47] {Threei}  nope, mine is of a fish
[15:47] {Threei}  19 seconds
[15:49] {Threei}  ok TZA
[15:49] {Threei}  it's time
[15:50] {Threei}  move your butt, Olympus is rumored to release new iteration of its flagship camera this year
[15:50] {Threei}  so papa needs some coin
[15:55] {nemo} Hey Les, see where the morning low on IWM bounced?
[15:56] {Les} yeh, what's that pink line?
[15:56] {Threei}  let me guess - from the low?
[15:56] {nemo} yep...that's the Weekly S3
[[15:57] {nemo} Mr. 19 second man
[15:57] {Threei}  hey, fish has 5 seconds on moth
[15:57] {nemo} true
[15:57] {Threei}  ok TZA, a few more ticks, and hurry
[15:58] {dino} cov stmp .77 -.04
[15:58] {nemo} who you talking too?
[15:58] {Threei}  to TZA but I don't know why
[15:58] {Threei}  or who it is
[15:58] {Threei}  stop to .64
[15:58] {Les} stmp short covering
[15:59] {Threei}  time presses
[15:59] {Les} all out tza +.05
[15:59] {Threei}  ok, out
[15:59] {Threei}  saved by the bell
[15:59] {Threei}  6 for 6
[15:59] {Threei}  no complaints
[15:59] {Threei}  thank you all, have a good evening
[15:59] {Threei}  see you tomorrow
[15:59] {Les} cioa
[16:00] {Threei}  beau, you got that script working?
[16:00] {Threei}  argh TZA
[16:00] {dino} gn all, thx for ideas
[16:00] {Threei}  at the target
[16:00] {rambler} gn, tks all...
[16:00] {nemo} Ha! IWM closes on Quarterly Resistance
[16:00] {nemo} SPY .04 above