Tuesday, April 24, 2012

Apr 24 2012

Inactive day with long stall but those trades that we found worked like charm. Just one 6 cents stop with most trades hitting 1:2 and 1:3, so other than boredom, no complaints.

Session Time: Tue Apr 24 00:00:00 2012
[09:06] {scottie} good morning
[09:07] {Threei}  morning scottie
[09:08] {andj} GM
[09:08] {Threei}  andj :)
[09:08] {andj} Too early vadd
[09:08] {andj} I may have to move back east to keep this up
[09:09] {andj} what time do you start?
[09:09] {Threei}  no... can't give up the freedom of finishing at 1
[09:09] {Threei}  whole day ahead
[09:09] {andj} I used to think that but man...
[09:09] {andj} dark all around
[09:10] {Threei}  used to bother me... then I discovered this great new invention
[09:10] {Threei}  electricity
[09:10] {andj} yea?
[09:10] {andj} like a bat?
[09:11] {andj} I'm not smart this early...even with electricity
[09:11] {Threei}  there is this switch on the wall... you flip it... and oh sweet miracle of light
[09:12] {andj} no sympathy then?  I will look elsewhere... 
[09:13] {Threei}  sorry :)
[09:13] {andj} no
[09:13] {andj} np
[09:13] {Threei}  I am not jazzed about east coast I guess
[09:14] {dptl} gm
[09:14] {Threei}  dp :)
[09:14] {andj} I was just there to visit my parents...It was nice to wake up and have some time to get ready
[09:15] {ese} morning
[09:15] {Threei}  ese :)
[09:15] {Threei}  oh, I see what you are doing differently
[09:15] {Threei}  you wake up for trading
[09:15] {Threei}  I don;t
[09:15] {andj} that's because you don't allow thinking
[09:15] {Threei}  right
[09:16] {Threei}  avoid it like plague
[09:16] {andj} i don't get that...but you are still smarter than me
[09:16] {Threei}  having keybpard with faded away signage helps - after a while you give up and start hitting random keys
[09:17] {andj} is that why you mess up when typing...your keys are all worn off?
[09:19] {Threei}  well, to be honst I do the same with any keyboard, lol... but it's nice to have an excuse
[09:22] {Threei}  gosh, NFLX...
[09:23] {ese} wow.......that discussion is way to academic for the morning.......how bout......it's going up...sell it......it's going down....buy it.....end of story
[09:24] {Threei}  even that is a bit too sophisticated to me, but it's a step in the right direction
[09:27] {ese} got out of bont yesterday 12:30 ish .44 +.46 1/2 lot
[09:27] {Threei}  nice
[09:28] {ese} ya...was a good day/swing trade
[09:28] {Threei}  no clear opening play yet
[09:29] {Threei}  shorting still looks the way to go but going to give it a few min to see clean setups
[09:30] {Threei} Short Setup: FCX  .10 break hl
[09:30] {Threei}  if stays under .20
[09:32] {Threei}  1:1
[09:34] {Threei} Short Setup: SLW  .70 break
[09:34] {Threei}  if stays under .80
[09:34] {Threei}  FCX 1:2, out
[09:35] {Les} cool bananas .84 pivot support
[09:35] {Threei}  SLW 1:1
[09:36] {Les} fcx long?
[09:37] {cipher} nflx l .80
[09:37] {Threei}  watching but no setup yet
[09:37] {Les} bouncing into pivot resistance
[09:38] {cipher} out nflx .30 +.50
[09:38] {Threei}  SLW 1:2, out
[09:38] {Threei}  wtg cipher
[09:38] {cipher} ty
[09:41] {Threei}  EU) ECB's Gonzalez - Seeing Federalization process in Europe.
[09:41] {Threei}  good luck with that. WWIII is what they'll get out of that
[09:42] {Threei} Long Setup:  X  .50 break
[09:43] {Threei}  lol, invalidated
[09:43] {Les} ?
[09:43] {Les} slw?
[09:43] {Threei}  ?
[09:43] {Les} oh ok I see your setup
[09:44] {Les} saw X at .20...  thinking WTF?
[09:44] {Threei}  rug pull right after I typed that
[09:44] {Les} could be a wash before the bounce
[09:46] {Threei} Short Setup: LVS  56 break
[09:47] {Threei}  if stays under .15
[09:47] {Threei}  1:1
[09:54] {Threei}  is something wrong with mibbit today? 3 or 4 people can't connect
[09:54] {Les} luddite disease
[09:54] {scottie} I'm on mibbit and I am OK
[09:55] {Threei}  ok... must be on some routes
[09:56] {Threei}  closed LVS in full btw
[09:56] {Les} LVS db?
[09:56] {Threei}  could be, watching
[09:58] {cipher} lvs l .67
[09:58] {cipher} out 1/2 .77
[09:59] {Threei}  *(US) APR CONSUMER CONFIDENCE: 69.2V 69.7E
[09:59] {dino} booted here
[09:59] {Threei}  *(US) MAR NEW HOME SALES: 328K V 318KE
[10:00] {Threei}  *(US) FEB HOUSE PRICE INDEX M/M: 0.3% V 0.1%E
[10:00] {cipher} out lvs in full .88 +.21 thx Les 
[10:01] {dino} ezpw sm l .85 thin
[10:01] {Threei}  lol, cipher dpesn't leave anything appearing within 100 yards radius unscalped
[10:01] {Les} shoulda joined ya
[10:02] {Les} bounced off s2 lvs
[10:02] {cipher} I just turn the ideas into cash :-)
[10:03] {ese} L bont agin. avg .20
[10:03] {thomcbell} long setup lvs 55.94 break if holding 55.80
[10:03] {dino} \chkp
[10:03] {ese} i like that idea cipher
[10:04] {thomcbell} lvs 1:1
[10:04] {thomcbell} for a milliseccond
[10:04] {dino} chkp sm l .24
[10:04] {thomcbell} target 1:4
[10:05] {thomcbell} lvs 1:2
[10:06] {Threei}  nice
[10:06] {ese} out bont .33 +.13
[10:07] {thomcbell} offered out 1/4 lvs here at 1:30
[10:07] {thomcbell} sold it 56.24
[10:08] {thomcbell} stop to 56.09 on balance
[10:09] {thomcbell} sold another 1/4 lvs 56.24
[10:09] {Threei} Long Setup:  FCX  .20 break
[10:10] {thomcbell} lvs offering another 1/4 56.34 
[10:10] {Threei}  stop under .15
[10:10] {Threei}  target closer to .40
[10:11] {thomcbell} sold the quarter lvs 56.30 
[10:11] {thomcbell} leaves quarter with 56.14 stop 
[10:12] {thomcbell} stop to 56.24 on last quarter lvs
[10:12] {cipher} chkp l .15
[10:12] {Threei}  perfect management
[10:12] {dino} idcc spike
[10:15] {Threei} Long Setup:  RIG  .40 break
[10:16] {Threei}  hl
[10:16] {Threei}  invalidated
[10:17] {thomcbell} taking trade lvs
[10:17] {thomcbell} flat 56.30
[10:19] {cipher} chkp stopped -.15
[10:22] {Les} got a 2nd pc and demo account for testing trades. IDCC worked well, but was rudely reminded of Dino's quarter theory
[10:22] {Les} speaking of crazy trades, where's magoo?
[10:23] {Threei}  postponed his return by couple months
[10:23] {Les} it's not hunting season is it?
[10:24] {Threei}  not sdure but just in case, not coming out of home without orange vest
[10:26] {ese} L bas .69
[10:26] {ese} bas.......................tard
[10:26] {ese} sheesh
[10:27] {cipher} chkp l .60
[10:28] {Threei} Long Setup:  RIG  46 break
[10:29] {Les} 49?
[10:29] {Threei}  stop under .90
[10:29] {Threei}  still hl
[10:29] {ese} you better work your way back up there.........ya.....^&%%$#KJGFD%$#$@
[10:30] {ese} huh........thats more like it
[10:30] {Threei}  1:1
[10:30] {dino} keep gettiog booted
[10:31] {ese} anybody buy vads book.........."The Best Way to Talk to Stocks so They'll Listen"    great read
[10:31] {Les} LOL
[10:31] {Les} missed that title
[10:31] {Threei}  I work on sequel, ese
[10:31] {ese} ya definitely
[10:32] {Threei}  "The Best Way to Kick Stocks In the Rear so They'll Go Up"
[10:32] {ese} lol....perfect.......
[10:33] {Threei}  "The Best Way to Hit Stocks with 2x4 so They'll Drop" is in planning
[10:33] {ese} lol
[10:34] {dino} stopped ezpw +.04
[10:36] {Les} nice day, c u's for close
[10:40] {ese} being up 5 bucks is just not acceptable............GET ON WITH IT!!!!!!!!!   YAAAAA  NOT GOOFD FOR NUTTIN(**&^TYTR^%*^%!!!!!!! page 68 of the book....phrase really suppose to work
[10:41] {ese} see ....lok at that.....now i'm up 18 bucks
[10:41] {ese} look
[10:42] {Threei}  lol
[10:53] {ese} gotta go cya tomorrow
[10:53] {Threei}  take care ese
[11:03] {Threei}  (US) Economist Shiller: Decline in housing could continue further, especially in suburban areas - comments post Case-Shiller data- May not see a major US housing turnaround in our lifetimes.
[11:03] {Threei}  ok... housing bottom must be close
[11:07] {scottie} 2 on 2 today, thanks Vad
[11:07] {scottie} Gotta go see you tomorrow
[11:20] {andj} Hey Vad are the market makers for the direxion eft's obligated to move the prices with IWM?
[11:21] {Threei}  no, not really
[11:22] {andj} They move almost like options
[11:22] {Threei}  it's not about obligation... rather, comp[lex combination of interests
[11:22] {Threei}  there is correlation of course but it's not caused by obligation
[11:23] {andj} Why do you always go with X, CAT and SWL then?
[11:23] {Threei}  they trade well, have good liquidity, obey the patterns nicely
[11:37] {Threei}  watching TZA for pullback entry
[11:38] {Threei} Long Setup:  TZA  .45 break
[11:38] {Threei}  if stays above .40
[11:39] {dino} chkp sm l .50 
[11:42] {Threei}  target about .55 - .60
[11:49] {andj} .
[11:54] {andj} do you think IWM selling is coming?
[11:54] {Threei}  50/50
[11:54] {Threei}  looked better 10 min ago
[11:54] {Threei}  still valid though
[11:56] {andj} Is the chart pattern valid or the 50/50 odds?
[11:56] {Threei}  a trade is stil valid
[12:02] {andj} Are you going after the 50/50 chance or a chart pattern?
[12:02] {Threei}  I don't understand the question, sorry
[12:02] {Threei}  trade is based on a chart pattern
[12:02] {andj} which one?
[12:02] {Threei}  in a while after triggering it started to look questionable and turned into 50/50 odds
[12:03] {andj} OK
[12:08] {Threei}  market is fairly active on down days and falls asleep on up
[12:13] {dino} thinking the same
[12:26] {dino} ulta?
[12:27] {Threei}  don't have news for it
[12:27] {dino} smr l .75
[12:30] {andj} are you still in tza?
[12:31] {Threei}  no... loss of .40 is a stop
[12:31] {Threei}  volume is 7% under 3 month average in both NYSE and NASDAQ
[12:36] {dino} ulta stop -.35
[12:37] {Threei}  (EU) ECB's Weidmann: Bond yields approaching 6-7% are not reasons to request the ECB take action - press interview- Notes there is no need at the moment for a 3rd LTRO operation - Recent comments by officials for the ECB to focus on growth are not helpful
[12:44] {Threei}  Google Inc Confirms launch of Google Drive - Google official blog-
[12:44] {Threei}  Today, were introducing Google Drive - a place where you can create, share, collaborate, and keep all of your stuff. Whether youre working with a friend on a joint research project, planning a wedding with your fiancor tracking a budget with roommates, you can do it in Drive. You can upload and access all of your files, including videos, photos, Google Docs, PDFs and beyond.
[12:44] {Threei}  moe ways to lose what remained of your privacy?
[12:55] {Threei}  friking TZA
[12:55] {Threei}  hitting target now after rinsing us
[12:55] {andj} I know
[12:56] {dino} last try smr ulta l .65
[12:58] {Threei}  works finally eh
[13:02] {dino} y
[13:36] {andj} Can anyone see this?  I am having trouble with my ISP.
[13:37] {Threei}  yes
[13:37] {andj} ok
[13:37] {andj} no trades?
[13:37] {Threei}  no
[13:38] {andj} What type of trades would you look for with the scanner?
[13:39] {Threei}  depends on the type of the market
[13:39] {Threei}  breakouts in uptrend
[13:39] {Threei}  breakdowns in downtrend
[13:39] {Threei}  reversals in overextended moves
[13:39] {andj} right now is kind of sideways...so right now?
[13:40] {Threei}  nothing, until market does something
[13:40] {Threei}  there is just nothing to trade
[13:49] {andj} Do you trade any forex?
[13:49] {Threei}  no
[14:02] {Threei}  drop out of nowhere
[14:02] {dptl} BIG db?
[14:03] {Threei}  nah
[14:03] {Threei}  doesn't look right
[14:03] {dptl} ye...will go lower looks like
[14:06] {dptl} pay?
[14:06] {Threei}  same
[14:13] {dino} chkp to .15
[14:13] {dino} ezch drop
[14:17] {Threei} Long Setup:  LVS  56 break
[14:17] {Threei}  if stays above .90
[14:17] {Threei}  probably two-sided
[14:18] {dino} out chkp .20, +.70
[14:23] {thomcbell} risk reward seems better up on lvs
[14:23] {Threei}  well, it's up that triggered... :)
[14:23] {dino} ezch sm l .29
[14:23] {andj} so what do you do in this case?
[14:24] {Threei}  buy the trigger?
[14:27] {nemo} haroo
[14:27] {Threei}  wow
[14:27] {nemo} shhhh
[14:27] {Threei}  someone did wake up
[14:27] {nemo} I had court and some meetings today
[14:27] {dino} stopped ezch -.33
[14:27] {Threei}  oh
[14:31] {thomcbell} aapl db?
[14:32] {nemo} late
[14:36] {thomcbell} late but goodie
[14:40] {dino} ezch news?
[14:41] {dino} nothing i can find
[14:42] {Threei}  no
[14:42] {Threei}  1:1 LVSD
[14:42] {Threei}  LVS
[14:43] {Threei}  the only thing oln it, dino... Jefferies makes cautios comments
[14:43] {Threei}  almost an hour ago
[14:44] {dino} must have been some serious comment dropped 12%
[14:49] {Threei}  andj... got LVS?
[15:01] {dino} bwld drop
[15:02] {dino} some crazy drops last couple weeks
[15:02] {andj} I got part of it but my other job called.  Thanks
[15:04] {Threei}  OK... 1:2, mr out
[15:04] {Threei}  me
[15:04] {Threei}  I bet tbell is till in and will end up taking 60 cents out of it, lol
[15:04] {dino} bwld going for gap at 70?
[15:07] {andj} Vad do you have a rule for how wide consolidation should be for plays like LVS?
[15:07] {Threei}  not really, it's a purely visual thing
[15:08] {Les} what are we in?
[15:09] {Les} if no one here's a tree fall in the forest...
[15:09] {Les} hears
[15:09] {Threei}  just ended LVS long
[15:09] {Les} sweet db
[15:10] {Les} RIG
[15:11] {Les} seems stuck,but .10 looks like a short trigger
[15:12] {Les} X db setup?
[15:13] {Threei}  doesn't look right
[15:13] {Les} dbi with some consolidation?
[15:13] {Threei}  that's more to my liking, yeah
[15:14] {Les} XLE is strong
[15:14] {dptl} chkp .45 long?
[15:15] {Threei}  chart is right...
[15:16] {dptl} going to 60 i think
[15:18] {dptl} jnpr what the?
[15:19] {Threei}  no news yet
[15:22] {Les} vad does RIG constitute a db here?
[15:22] {Threei}  Juniper Networks Reports Q1 $0.16 v $0.13e, R$1.03B v $977Me - company website releases
[15:23] {Threei}  late
[15:23] {Les} yeh, but is it kosher?
[15:23] {dptl} oh ...they beat
[15:23] {Threei}  not really
[15:23] {Les} ok
[15:25] {Les} x .50 b/d?
[15:26] {Threei}  I think so
[15:26] {Les} could be 2 way. MACD suggesting possible reversal
[15:27] {dino} damn missed bwld 4 pt bounce
[15:33] {dptl} hlf
[15:40] {Threei}  you were right on CHKP
[15:40] {dptl} :)
[15:41] {dptl} chickened out on hlf bounce...
[15:41] {dptl} oh well....
[15:45] {Threei}  inactive day but of those trades we took we had what, 1 stop?
[15:51] {andj} Well thanks Vad...have a good afternoon...you know it´s only 1 P.M. :)
[15:51] {Threei}  :)
[15:52] {dptl} ok...before i miss the bell again...gn, see ya tomorrow all
[15:52] {Les} well I reckon Vad should open an Indian/Singapore trading session. Let's go all night!
[15:52] {Threei}  lol
[15:52] {dino} dptl, nice chkp call
[15:52] {Threei}  very
[15:53] {Threei}  ok guys, thank you all
[15:53] {dptl} :)
[15:53] {Threei}  have a good evening, see you tomorrow
[15:59] {dino} ndx -6% this month