Very nice day with a lot of wins and very few stops. Catch of the Day today is somewhat unusual: two trades in a quick succession on the same stock, short first and switching to long second. Instead of long-winded explanations, let me just post comments made in the room.
[11:06] {Threei} Short Setup: CAT .40 break, .55 stop
[11:11] 1:1, out and looking to reverse
[11:12] Long Setup: CAT .10 break if holding 104
[11:13] right where I wanted it earlier
[11:13] whether it works or not, this is a trade to be taken
[11:14] target 1:2, maybe more
[11:14] 1:1
[11:14] let’s do three partials
[11:14] 1:2
[11:14] stop to .19 for the last piece
[11:15] 1:3, over and out
[11:15] like a fiddle
Session Time: Thu Mar 29 00:00:00 2012
[08:38] {Threei} *(US) INITIAL JOBLESS CLAIMS: 359K V 350KE; CONTINUING CLAIMS: 3.340M V 3.350ME- Prior Initial Claims revised higher from 348K to 364K - Prior Continuing Claims higher from 3.352M to 3.381M
[08:39] {Threei} they run out of creative accounting?
[08:40] {Threei} or save it for he months closer to election?
[08:40] {Les} run out of warm winter...
[08:40] {Threei} aww... you with your reality
[08:55] {Threei} 87% of all statistics are made up
[08:57] {nemo} that was weird on spy
[08:57] {Threei} ?
[09:01] {nemo} I got a funny candle at 8.57
[09:01] {Threei} none here... 2 cents bwtween high and low
[09:02] {nemo} o.k.
[09:08] {_juanco} good morning
[09:09] {Threei} juanco :)
[09:13] {Threei} so far, today feels like continuation of selling iks going to be a major theme
[09:13] {nemo} maybe not too much EOQ
[09:14] {Les} TLT has another .50, .75 before it hits resistance
[09:14] {ese} gm
[09:14] {Les} maybe 1.20 more
[09:15] {Threei} ese :)
[09:15] {Threei} House has overwhelmingly rejected President Barack Obama's $3.6 trillion budget for next year. The vote was 414-0.
[09:15] {nemo} Hey Vad, you were tweeted by the Kirk Report
[09:15] {Threei} huh?
[09:15] {Threei} me?
[09:15] {Threei} by who?
[09:15] {nemo} I just retweeted it
[09:15] {Beau} good morning you all
[09:15] {Threei} beau :)
[09:15] {nemo} the Kirk Report
[09:16] {Threei} I am so out of times... I don�t know what that is :)
[09:16] {ese} whats the kirk report?
[09:16] {ese} egggzactilly
[09:16] {nemo} He's well known in trading circles, runs a premium service too
[09:16] {nemo} frickin' Ese, will you learn how to spell, you've been here long enough
[09:16] {Threei} I see yout retweet
[09:16] {Threei} ty
[09:17] {Les} where is it nemo?
[09:17] {Les} looking can't see it
[09:17] {nemo} I retweeted it
[09:17] {Threei} they linked my article Les
[09:17] {Threei} this one:
[09:17] {Les} where's the link
[09:18] {Threei} http://blog.realitytrader.com/2012/02/is-market-battlefield-for-you.html
[09:18] {dino} gm
[09:18] {Threei} dino :)
[09:18] {ese} lol
[09:18] {nemo} it's "Eqzaktly"!!!
[09:18] {ese} dino
[09:18] {ese} ahhhhhhhh.....
[09:18] {Threei} so how come no single democrat in the house voted for the budget?
[09:19] {nemo} election year
[09:19] {ese} 414 to zip.......thats bizzare
[09:19] {dino} was wondering that too
[09:19] {ese} are there serious cuts there?
[09:19] {ese} like a trillion or so
[09:19] {Threei} kidding?
[09:20] {Les} proverbial lnyching of a black president....
[09:20] {Threei} the only cuts they introduce are cuts to increase of spending
[09:21] {Threei} so, instead of increase of 10T more of money we don�t have we are goling to spend only 6T more
[09:21] {Threei} Yay, we cut spending!
[09:23] {Threei} you want to see real cuts at least starting, wait for today�s Canada budget
[09:24] {Threei} Democrats have defended Obama's budget priorities but they largely voted "no" Wednesday night.
[09:24] {Threei} Republicans said Democrats were afraid to vote for Obama's proposed tax increases and extra spending for energy and welfare.
[09:25] {Threei} there you go
[09:26] {Threei} selling pick up
[09:26] {Threei} short into bounces will be first idea
[09:28] {rambler} gm
[09:28] {Threei} rambler :)
[09:29] {nemo} heheheh, just took a buck out of MOS short
[09:29] {ese} well done nemo
[09:30] {Threei} FCX
[09:31] {Threei} Short Setup: FCX .20 break
[09:31] {Threei} hl of copurse
[09:31] {Threei} stop above .30
[09:32] {Threei} stop to .26
[09:32] {Threei} was 1 cent of 1:1
[09:32] {Threei} 1:1
[09:34] {Threei} Short Setup: SLW .25 break
[09:34] {Threei} if stays under .35
[09:35] {Threei} invalidated
[09:35] {Threei} Short Setup: LVS .90 break hl
[09:35] {Threei} if stays under 58
[09:35] {Threei} invalidated
[09:36] {Threei} on radar though
[09:37] {Threei} Short Setup: SLW .40 break
[09:37] {Threei} if stays under .50
[09:38] {Threei} Short Setup: LVS .95 break hl
[09:39] {Threei} if stays under .05
[09:40] {Threei} LVS 1:1
[09:40] {Threei} tagert 1:3
[09:40] {Threei} SLW 1:1
[09:40] {Threei} not sure on target on this one
[09:40] {Threei} LVS 1:2
[09:41] {Threei} stop .91 for the last part
[09:42] {Threei} Short Setup: FCX .25 break
[09:42] {Threei} stop above .35
[09:42] {dino} big sm l .50
[09:43] {Threei} make up yuor mind dino... big or sm?
[09:43] {Threei} I am easily confused
[09:43] {Les} stick to trading vad. leave the wisecracks to nemo
[09:44] {Les} :)
[09:44] {Threei} yes sir
[09:44] {Threei} trail FCX to .31
[09:44] {nemo} ;)
[09:44] {dino} lol
[09:44] {Threei} FCX 1:1
[09:45] {Threei} lol, fake proint at 1:2
[09:45] {Threei} LVS 1:3 target hit
[09:46] {Threei} out in full
[09:46] {Threei} feeling fat and happy
[09:46] {Threei} wait... I take that back, too rich target for nemo
[09:47] {Threei} what�s with bout of enthusiasm?
[09:47] {cipher} gmcr l .73
[09:47] {dino} big stop -.30
[09:47] {dino} wtf rinsed
[09:47] {cipher} meli l .39
[09:48] {Threei} no news for SPY spike
[09:51] {cipher} gmcr stop -.16
[09:53] {cipher} gmcr l .29
[09:54] {cipher} out 1/2 .47
[09:55] {Threei} Short Setup: GLD small shares 161 break
[09:55] {dino} air pocket
[09:56] {dino} wprt sm l .51 stop lod
[09:56] {Les} FDX at strong support
[09:57] {Threei} if stays under .10
[09:58] {Threei} no news for this drop either
[09:58] {Threei} GLD is probably two-sided
[09:59] {dino} aet, unh, hum spikey
[09:59] {nemo} supreme court decision
[09:59] {Threei} invalidated short side
[09:59] {dino} wprt stop -.16
[09:59] {dino} big sm l .50 wide
[10:00] {dino} no decision until june nemo
[10:00] {Threei} isn�t it expected in June or something like that nemo?
[10:00] {nemo} yeah, but that's why they're moving
[10:02] {dino} agreed
[10:02] {nemo} Hey...I'm not as dumb as I look
[10:02] {Threei} so, consensus is bill will be struck?
[10:02] {nemo} Then again....
[10:02] {nemo} nobody could be THAT dumb
[10:03] {Threei} Short Setup: LVS
[10:03] {Threei} .50 break
[10:04] {Threei} if stays under .60
[10:04] {dino} lol, welcome to the jungle just on
[10:04] {dino} wprt sm l .20
[10:05] {dino} 07 green
[10:07] {ese} L REE .35 avg .40
[10:07] {dino} big to .05
[10:07] {ese} still hangin on to some from yesterday
[10:07] {dino} out big .05, +.55
[10:07] {Les} nice. and nice chart. missed it
[10:08] {ese} i'll say thats out big
[10:08] {Les} son of vad
[10:08] {ese} lol
[10:08] {Threei} lol
[10:09] {dino} ty
[10:09] {dino} sm l mako .85
[10:10] {dino} that sucked
[10:11] {dino} stocks are getting pulpy, all over
[10:13] {ese} ya definitely....look at how ree is moving
[10:14] {ese} but i'm likin this 11 day consolidation with this thing.......i'm betin up
[10:16] {ese} of course if Bernackers opens his mouth anytime soon i'll be toast
[10:17] {Threei} lol
[10:17] {Threei} out LVS
[10:17] {Threei} way too sharp drop, don�t want to stick around for just as sharp bounce
[10:18] {Threei} a bit too soon
[10:18] {Threei} but whatever
[10:18] {Threei} SPY is really pulpy today
[10:19] {Les} yeh like everyone is out at the pub
[10:19] {dino} mos sm l .60
[10:19] {Threei} ugh, 1:2
[10:19] {nemo} that's S3, don't have to give it much room
[10:19] {nemo} Dino
[10:20] {ese} ya have to say that like the British...."pooub"
[10:20] {Threei} oh, that where dp is today!
[10:20] {Les} get off ya horse mate, we say it like "hub"
[10:21] {Threei} I was wondering
[10:21] {Les} no pommies round here
[10:21] {Threei} and andj
[10:21] {dino} saw that nemo, thx
[10:21] {nemo} no, just a token wombat poker
[10:21] {ese} aaahhhhhh....good to know.....am always lookin to speak another language
[10:22] {nemo} say this to Les: "Lech mich im Arsch!"
[10:22] {ese} rotflol..........well done
[10:22] {Les} janitor
[10:22] {ese} that was funny
[10:23] {cipher} mako l.43
[10:26] {dino} lnn drop
[10:26] {dino} thin
[10:28] {ese} what happened?
[10:28] {dino} tripped on cord
[10:28] {Les} http://www.multpl.com/
[10:29] {ese} time stood still here for a minute or so
[10:29] {Les} interesting look at PE ration of SP
[10:29] {Les} ratio
[10:29] {Threei} (IR) Russia Foreign Min: Iran's nuclear program is expanding and is in violation of UN resolutions; any strike against Iran would result in more economic crisis- Notes that tensions could lead to a military conflict
[10:30] {Threei} have no doubt, he said all that jumping up and down and not even trying to hide the smirk
[10:30] {ese} is he talking about a strike against Iran? that would be a different tact
[10:31] {nemo} jeez...rht
[10:31] {dino} crazy
[10:31] {Threei} let�s see if we can get TZA long between 17.95 and 18
[10:32] {nemo} I think you are bottoming here, important spy and iwm levels
[10:32] {Threei} don�t have such feel...
[10:32] {Les} not yet
[10:33] {Threei} to me, there is more selling in cards
[10:33] {Les} hourly MACD wiiiiide open
[10:33] {Threei} crap
[10:34] {Threei} TZA did go where I wanted it but too ast to react
[10:34] {Threei} look at it go
[10:35] {Threei} [09:13] {Threei} so far, today feels like continuation of selling iks going to be a major theme
[10:36] {thomcbell} looking for one more shakeout on tyc
[10:37] {thomcbell} long setup tyc 55.35 break if holding 55.25
[10:38] {rambler} L THLD .69
[10:40] {Les} bullish div. in 3 min charts. maybe another bounce here
[10:40] {dino} mos to .90
[10:40] {dino} to .99
[10:41] {nemo} should get .30 area
[10:41] {dino} out mos .00, +.40
[10:41] {rambler} beauty
[10:41] {thomcbell} tyc 1:1
[10:42] {dino} ty
[10:43] {dino} big drop
[10:47] {cipher} +.15 big thx dino
[10:48] {dino} gj
[10:52] {thomcbell} tyc stop to 55.45
[10:53] {Les} TNA 61
[10:55] {nemo} scalp against the trend Les
[10:55] {Les} gotcha
[10:56] {nemo} cover a little here
[10:56] {Les} paper trading day dude
[10:56] {nemo} oh
[10:56] {nemo} cover a little on paper
[10:56] {Les} working on TNA entries and exits
[10:56] {Les} yeh its done
[11:00] {Threei} switching to long on pullbacks
[11:00] {Threei} CAT near .10 will be interesting
[11:00] {dino} wtw drop
[11:02] {Threei} yeah right CAT says
[11:05] {dino} pia but out wprt .70, +.50
[11:05] {rambler} out THLD -.34
[11:06] {dino} wtw sm l .51 stop lod
[11:06] {rambler} dang
[11:06] {Threei} Short Setup: CAT .40 break
[11:06] {Threei} hl
[11:07] {Threei} .55 stop
[11:08] {cipher} wtw l.46
[11:09] {ese} outta here L ree..........cya tomorrow
[11:09] {Les} ciao
[11:09] {Threei} take care ese
[11:09] {dino} cya
[11:11] {Threei} 1:1
[11:11] {_sciborg} argg..I missed it
[11:11] {Threei} out and looking to reverse
[11:11] {Threei} ugh... it gave second chance
[11:11] {dino} wtw stop .29, -.22
[11:12] {Threei} Long Setup: CAT .10 bresk
[11:12] {Threei} if holding 104
[11:13] {Threei} right where I wanted it earlier
[11:13] {cipher} wtw stop .21 -.25
[11:13] {Threei} whether it works or not, this is a trade to be taken
[11:14] {Threei} target 1:2
[11:14] {Threei} maybe more
[11:14] {Threei} 1:1
[11:14] {Threei} let�s do three partials
[11:14] {Threei} 1:2
[11:14] {Threei} stop to .19 for the last [eice
[11:15] {Threei} 1:3, over and out
[11:15] {Threei} like a fiddle
[11:15] {_sciborg} Nice :)
06[11:15] * Threei takes a bow
[11:16] {rambler} beauty trade V
[11:16] {Threei} ty
[11:20] {thomcbell} damn tyc too tight a stop i suppose
[11:24] {dino} big sm l .48
[11:27] {cipher} mako l .64
[11:28] {dino} looking at that
[11:29] {Threei} graphic help: http://goo.gl/2WwKs
[11:30] {cipher} out mako -.01
[11:42] {thomcbell} long setup emc 29.10 break if holding 29
[11:42] {dino} thinny, sm l lnn.00
[11:42] {cipher} mako l .51
[11:46] {dino} mos sm l .45 stop .29
[11:46] {dino} nice mako cipher
[11:47] {cipher} yah lokks like short squeeze was coming
[11:48] {cipher} out mako .88 +.37
[11:53] {dino} mos stop -.16
[11:55] {dino} wprt sm l .10
[11:58] {dino} mos rinsed
[12:11] {dino} big to .78
[12:11] {dino} to .88
[12:12] {rambler} out at .81 thx dino
[12:12] {dino} to .95
[12:15] {dino} to .00
[12:15] {dino} gj rambler
[12:15] {dino} out .00, +.52
[12:15] {cipher} +.19 wprt thx dino
[12:18] {dino} out wprt .40, +.30
[12:18] {dino} gj cipher
[12:18] {dino} taking a break
[12:30] {dino} .
[12:32] {Les} never seen TNA move so slowly
[12:35] {nemo} lvs short here?
[12:37] {nemo} hey les, it's moving almost as slowly as your mind
[12:38] {Les} took you that long to come up with that?
[12:38] {Les} maybe you should stick to trading too
[12:38] {nemo} no, I just read it when I typed my LVS comment
[12:41] {dptl} good afternoon all
[12:41] {nemo} Mr. tl
[12:42] {Les} take it long nemo?
[12:42] {nemo} no
[12:43] {Threei} hey dp
[12:51] {thomcbell} emc my lord 1:1
[12:51] {thomcbell} please take profits
[12:51] {thomcbell} bored to tears
[12:54] {_sciborg} lol..I got it..Thx thom :)
[12:58] {dino} met l .74
[12:58] {dino} panl sm l .50
[13:05] {Threei} 10:19] {Les} yeh like everyone is out at the pub
[13:05] {Threei} [10:20] {Threei} oh, that where dp is today!
[13:05] {Threei} [10:21] {Threei} and andj
[13:06] {Threei} fess up you two
[13:06] {dptl} lol
[13:07] {Threei} look what play you missed
[13:07] {Threei} http://goo.gl/o3PZS
[13:07] {Threei} and that�s just one of many
[13:08] {dptl} nice.....
[13:40] {dptl} .
[13:41] {nemo} {----
[13:46] {dino} lnn to .45
[13:47] {nemo} is the wombat poker here, or is he off playing around in his pajamas?
[13:47] {Les} .
[13:47] {nemo} drinking?
[13:47] {Les} nah. bored outta me brain though
[13:48] {nemo} GS
[13:48] {nemo} might be short herer
[13:48] {nemo} pubic hair tight stop
[13:49] {dino} lnn to .53
[13:52] {dino} lnn to .69, expect slip
[13:57] {dino} to .75
[13:57] {nemo} Helen Keller stock Dino?
[13:58] {dino} ?
[13:59] {nemo} I can barely see where it's trading
[13:59] {dino} ahhh, but it's been good to me, in at .00
[13:59] {nemo} very good
[14:00] {dino} coo spike
[14:00] {dino} kior spike
[14:01] {Threei} (GR) Germany Fin Min Schaeuble: To discuss EU firewall as part of tomorrow's eco fin meeting; To build �800B firewall which should be convincing for markets (we'll see, good luck with that)
[14:01] {Threei} - EMU leaders must rebuild confidence (you don't say)
[14:01] {Threei} - Spread between Bunds and Greece debt is currently 'unreasonable' (nothing is reasonable about whole thing)
[14:01] {Threei} - Reiterates Germany will not accept the idea of Eurobonds and for the ECB to be a lender of last resort (oh good, so therer is a limit to insanity)
[14:01] {Threei} - Spain needs to reform its labor markets. (again, good luck)
[14:01] {Threei} - PM Monti succeeding in tackling Italy's problems. (I want what you are smoking, obviously good stuff)
[14:01] {Threei} - Debt levels need to be reduced in a 'growth friendly way' (eeck... no comment)
[14:02] {Threei} my favorite comment of the day:
[14:02] {Threei} (DK) Denmark Econ Min: Euro helped avoid currency crisis
[14:02] {Les} stupid idiot
[14:02] {Threei} I don�t know where to begin, lol
[14:03] {Threei} maybe there wouldn�t be currency crisis if not for Euro?
[14:03] {dino} out lnn major slip, ave .61, +.61
[14:04] {rambler} watching TXN short break 33
[14:05] {rambler} you likey Vad..?
[14:06] {Threei} chart configuration is right but it�s so narrow...
[14:07] {Threei} just not sure there is enough amplitude for profit
[14:07] {Threei} feels like a lot of struggle for each cent
[14:09] {dino} sina sm l .10 stop .99
[14:16] {dino} 07 green, giddy-up
[14:16] {nemo} what's "07 green"?
[14:17] {dino} my one scanner, moves in multiples of .07
[14:17] {Les} there's an echo in this room
[14:17] {dino} anything that hits it (and rotates 25) is moving in 7 cent increments
[14:26] {Les} CAT short top of the range here?
[14:27] {Threei} it�s a guesswork
[14:27] {Les} yeh
[14:27] {dino} gut says up
[14:27] {Threei} why not a break?
[14:27] {nemo} iwm spy at WPPs
[14:28] {Les} should have asked about 5 min. from now. waiting to see 3 min strengthen or weaken
[14:28] {Les} crap
[14:29] {dino} sina to .29, met to flat
[14:30] {nemo} wouldn't do sina that tight dino
[14:30] {nemo} got a chance to go to .60, what u using 20 sma on the 1?
[14:31] {dino} out sina +.19
[14:31] {dino} i understand, but greedy mode
[14:32] {dino} stingy better word
[14:32] {nemo} works for me
[14:32] {nemo} money grubbing
[14:32] {dino} ok
[14:32] {dino} or the old $75 theory
[14:33] {dino} stop met +.01
[14:34] {dino} panl to flat
[14:38] {dino} sxci spike
[14:38] {dino} sm s .04
[14:41] {nemo} vvus
[14:41] {dino} vvus spike
[14:41] {nemo} slow dino
[14:42] {nemo} wtf
[14:42] {dino} ?
[14:42] {nemo} vvus
[14:44] {dino} news?
[14:45] {Threei} VVUS Ticks higher ahead of impending FDA advisory panel decision
[14:45] {dino} ty
[14:46] {dino} sxci bstop to .00
[14:49] {dino} i froze that thing
[14:50] {nemo} nice job dino
[14:52] {dino} to .77
[14:52] {dino} \thx nemo
[14:52] {dino} out panl .64, +.14
[14:54] {dino} to .74
[14:54] {nemo} COG going out of business
[14:57] {dino} never
[14:57] {Les} SLW rolling over
[14:57] {dino} to .68
[14:58] {dino} cov sxci slip, ave .72, +.32
[15:05] {dino} sxci spikes again
[15:12] {dino} heck of a spike
[15:15] {Threei} no news for this run
[15:17] {dino} bummer i unloaded everything
[15:18] {dino} dji green
[15:22] {Threei} Long Setup: TZA .60 break
[15:22] {Threei} stop .54
[15:22] {dino} epam spike
[15:26] {Les} made a vad type reversal play on LVS. 2 attempts at 30 failed .24 short cover .15 all on paper of course.
[15:27] {Les} mixed well setups from vad, myself and dino today. trying it out on paper
[15:27] {Les} c u's tomorrow
[15:27] {dino} somebody knows something on vvus
[15:27] {Threei} take care les
[15:27] {dino} gj and gn les
[15:27] {nemo} or the lemmings think as much
[15:27] {Threei} or speculates and will get lucky or very hurt... :)
[15:28] {dino} not touching it, pretty much done for day. don't want to f up a decent one
[15:30] {Beau} vad, partial 75?
[15:32] {Threei} .75? that would be 1:3
[15:32] {Threei} if it gets there, dump it all, IMO :)
[15:32] {Beau} sorry, looking wrong chat. my bad
[15:36] {Threei} ouch
[15:36] {Threei} VVUS
[15:36] {Threei} VVUS FDA votes to suggest that obesity drugs need to be studied for risks to the heart; Vote was 17-6
[15:37] {Threei} TZA no go
[15:38] {Threei} 15:27] {Threei} or speculates and will get lucky or very hurt...
[15:38] {Threei} �very hurt� part takeds place
[15:39] {Threei} there are always those who think they can figure it out from the commonly known information
[15:39] {Threei} you can see them all over message boards, arguing what is going to happen
[15:39] {Threei} it�s they and their followers that buy in advance because they figured out earnings, FDA approvals etc etc
[15:40] {nemo} vvus needs an exorcisst
[15:40] {nemo} exorcist
[15:53] {dino} wow
[15:54] {Threei} OK guys, thank you all
[15:54] {Threei} have a great evening
[15:54] {Threei} we will get them again tomorrow
[15:55] {Threei} unless they get us first
[15:55] {dptl} good nite all
[15:56] {dino} gn all, thx for ideas
[15:56] {rambler} thx all, cu in the a.m.
