Tuesday, May 1, 2012

May 01 2012

As usually, after a losing day we regroup right away and get back to a windshield role in a hurry. Beautiful day with a lot of great plays. One is curious enough to make a, umm... Catch of the Day. Read on:

When do you call a 1:3 trade a "Miss of the Day" instead of Catch of the Day? When it proceeds to 1:10!
[11:13] not a scalp for me, looks like can do much better <---- if I only knew HOW much better, lol

Session Time: Tue May 01 00:00:00 2012

[09:03] {scottie} good morning
[09:04] {dptl} gm
[09:04] {Threei}  scottie, dp :)
[09:10] {Threei}  very meek opening
[09:11] {scottie} Vad, I downloaded intelliscan demo last weekend. Is that what you use to find your set-ups?
[09:11] {Threei}  yes
[09:11] {Threei}  demo is limited to two alerts only though
[09:12] {scottie} What are the set-ups you look for?
[09:12] {Threei}  standard stuff from 111 Trades
[09:12] {Threei}  JBE, DBI, reversals, C&H
[09:13] {scottie} thanks
[09:17] {dino} gm
[09:17] {Threei}  dino :)
[09:23] {Threei}  68% Say Obama�s Liberal, 60% View Romney as Conservative
[09:23] {Threei}  duh
[09:23] {Threei}  and 60% believe sun rises in the east?
[09:26] {Les} morning
[09:26] {nemo} no freestockcharts this morning
[09:26] {Threei}  les :)
[09:26] {Les} bummer
[09:26] {Les} mein gott, I've gotta trade Vad's system without the GPS today!
[09:27] {Threei}  PBY
[09:27] {nemo} going back to the hospital in a little while, so not a big deal
[09:27] {Threei}  merger might by called off by an acquirer
[09:28] {nemo} http://www.ebay.com/itm/ws/eBayISAPI.dll?ViewItem&item=320898406142&ssPageName=ADME:L:LCA:US:1123
[09:28] {dino} none here either nemo
[09:28] {Threei}  it's however about where it was when merger was annolunced... hard to tell if it has any potential either way
[09:28] {nemo} server must be down
[09:28] {Les} you wanna take a guy out to lunch?
[09:30] {Les} will see how stockcharts works intraday. I still got an account
[09:31] {Threei} Short Setup: FCX  .40 break
[09:31] {Threei}  If holds  .45 
[09:32] {Threei}  out
[09:32] {Threei}  let it spike higher
[09:32] {Threei} Long Setup:  CAT  .60 break hl
[09:33] {Threei}  If holds  .50 
[09:33] {Threei}  keeping it very tight for now
[09:33] {Threei}  either hl or narrow stops
[09:33] {Threei}  will increase risk only when hit a string of wins
[09:35] {dino} wdc sm l .25
[09:35] {Threei}  1:1
[09:37] {Les} fcx .50 b/d?
[09:37] {Threei}  need a min more
[09:38] {Threei}  or one more bounce to reinforce resistance
[09:39] {Threei} Short Setup: LVS  .80 break hl
[09:39] {Threei}  If holds  .90 
[09:39] {Threei}  Invalidated  
[09:40] {Threei} Short Setup: FCX  .50 break
[09:40] {Threei}  If holds  55 
[09:41] {Threei}  too fast?
[09:41] {Threei}  second chance coming
[09:41] {Threei}  same stop
[09:42] {Threei}  half out .43
[09:42] {dino} wdc to .50
[09:42] {Threei}  out in full
[09:42] {Threei}  .35
[09:42] {Les} .36 holding 200
[09:43] {dino} out +.25
[09:44] {Les} indu 5 min showing dbi or db?
[09:44] {Les} 1 min, not 5 min
[09:45] {Threei}  (US) President Obama has made unannounced trip to Afghanistan
[09:45] {Threei}  damn, this guy can't stop vacationoning
[09:45] {Les} ...where he was inadvertantly shot down...
[09:45] {Les} all out .45
[09:46] {dptl} ty wdc Dino..+.21
[09:47] {Threei}  good one
[09:48] {dino} gj dp
[09:49] {nemo} PAY
[09:49] {Les} TNA db?
[09:49] {Threei}  in retrospect
[09:50] {Les} nah nah nah I asked about INDU, that was your chance for glory VAd
[09:50] {Les} [15:44] {Les} indu 5 min showing dbi or db?
[09:50] {Threei}  oh well
[09:51] {Threei}  I will live gloryless now
[09:51] {Les} Oh well?
[09:51] {Les} frikin taoists
[09:52] {Threei} Long Setup:  TNA  .70 break
[09:52] {Threei}  hl
[09:52] {Threei}  .65 stop
[09:52] {Threei}  1:1
[09:52] {Threei}  all within 1 min
[09:53] {Les} LOL m issed it
[09:53] {Threei}  come on
[09:53] {Threei}  it wasn't that fast, and you had it on your screen
[09:53] {Les} nah was looking at TZA. put my order in 1 sec too late
[09:53] {Les} silly me for thinking the breakout
[09:54] {scottie} got it at +10, ty
[09:54] {Threei}  :)
[09:54] {dino} lqdt drop
[09:55] {Threei} Long Setup:  PAY  .60 break
[09:55] {Threei}  If holds  50 
[09:55] {Threei}  change to .55 break
[09:55] {thomcbell} huge offer on pay
[09:56] {nemo} .56 offer
[09:56] {thomcbell} at 0.56
[09:56] {nemo} dropping offer
[09:56] {Threei}  invalidated anyway
[09:56] {nemo} this going down
[09:56] {Threei}  but worth watching
[09:56] {Threei}  have hl ready, it will be fast
[09:58] {Threei}  .40 break
[09:58] {Threei}  if holding .30
[09:58] {nemo} .46
[09:58] {thomcbell} slw trades well again 
[09:59] {dino} ten sm l .50
[09:59] {nemo} must be good numbers
[09:59] {Threei}  *(US) APR ISM MANUFACTURING: 54.8 V 53.0E; PRICES PAID: 61 V 59.0E
[09:59] {Les} wow
[10:00] {Threei}  no comments on PAY needed
[10:00] {Threei}  exit as you see fit
[10:00] {Threei}  +.20
[10:00] {Threei}  *(US) MAR CONSTRUCTION SPENDING M/M: 0.1% V 0.5%E
[10:00] {nemo} well, pullback should be over now
[10:00] {scottie} +21 ty
[10:01] {Threei}  welcome
[10:02] {nemo} we should hit new highs on spy by end of week
[10:03] {dino} ten to .80
[10:04] {Threei}  unless fear of election outcomes in europe takes over
[10:04] {dino} to .98
[10:05] {nemo} should now just grind up the rest of the day
[10:05] {dino} to .05
[10:05] {Threei}  lol PAY
[10:05] {Threei}  1:5
[10:06] {dino} to .20
[10:06] {dino} out .25 +.75 ten
[10:06] {Threei}  General Motors Corp Reports April vehicle sales -8.2% y/y
[10:06] {Threei}  how's that rescue going
[10:07] {Threei} Long Setup:  SLW  .55 break
[10:07] {Threei}  If holds  50 
[10:07] {Threei}  if got it, half out here
[10:08] {Threei}  or take scalp
[10:08] {Threei}  sharp spike
[10:10] {Threei}  wow!
[10:10] {Threei}  wasn't there for this spectacle but this happened at my favorite walking spot
[10:10] {Threei}  http://goo.gl/r6CUz
[10:11] {Les} test of yesterdays high
[10:11] {nemo} nature is unkind
[10:12] {Threei}  watching SLW again
[10:12] {Threei}  short this time
[10:12] {Threei}  .50 break
[10:12] {Threei} Short Setup: SLW  .50 break
[10:13] {Threei}  Invalidated  FOR  now
[10:14] {Les} PAY LOL
[10:14] {nemo} once it broke that huge offer, off to the races
[10:14] {Threei}  that was the idea
[10:15] {Threei}  these huge orders serve well as contrarian indicators
[10:15] {dino} qcor spike
[10:16] {thomcbell} fcx underpressure
[10:16] {Threei}  s bit too sharp drop into support, FCX
[10:16] {Threei}  little bounce or consolidation, I will want a breakdown
[10:17] {Threei} Short Setup: FCX  .30 break
[10:17] {dino} filled fri gaps
[10:17] {nemo} cat looks interesting
[10:17] {dino} dji wants 2012 high
[10:17] {Threei}  stubborn support, good
[10:17] {Threei}  should drop like a rock when broken
[10:17] {nemo} oh yeah, everything gonna' test the highs this week
[10:18] {Threei}  stop .36
[10:18] {nemo} next rip coming
[10:19] {Threei}  SLW again
[10:20] {Threei}  valid
[10:20] {Threei}  stop above .60
[10:20] {Threei}  FCX half out
[10:21] {Threei}  SLW, half out
[10:27] {Les} .
[10:28] {Les} does that FCX hammer constitute a long entry?
[10:28] {Threei}  in retrospect
[10:28] {Les} was contemplating .15 if holding .05
[10:28] {Threei}  yeah
[10:29] {Threei}  huh... for some reason my line "out FCX in full" never appeared
[10:29] {Threei}  ah, I see why
[10:29] {Threei}  ok
[10:29] {Threei}  db
[10:29] {Threei} Long Setup:  FCX  .10 break
[10:29] {Threei}  If holds  .05 
[10:32] {Threei}  no go
[10:35] {Threei}  this is second day in a row when materials act opposite to the market
[10:35] {Les} yeh wondering if china is putting wind up the street
[10:35] {Threei}  they were all hitting highs yesterday while SPY was down... do the exact opposite today
[10:35] {Les} or final flush before heading higher?
[10:35] {Threei}  no idea
[10:36] {Les} 60 min IWM showing bearish divergences. could be head fake here
[10:36] {Threei}  could just as well be an indication of coming blowout
[10:36] {Threei}  as in:
[10:36] {Threei}  if everything goes to hell in a handbasket, let's buy real things
[10:36] {Threei}  tangibles
[10:37] {Les} you don't *gasp" mean, stuff like gold do you?
[10:37] {Threei}  gold is in its own league of weirdness
[10:38] {Threei}  it has too many roles, and as a result you never know which one plays out to what ectend
[10:38] {Threei}  it's a part material, part commodity, part currency
[10:39] {Threei}  part safe haven
[10:39] {Les} part paper weight
[10:39] {Les} I got a few nice silver paper weights
[10:39] {Les} keeps mail in its place
[10:43] {Threei}  frikin FCX
[10:44] {Les} FSC is up. But no data
[10:51] {Threei} Short Setup: SLW  .70 break
[10:51] {Threei}  If holds  .75 
[10:52] {Threei}  just a scalp
[10:52] {Threei}  oh boy
[10:53] {Threei}  look who just can't shut up
[10:53] {Threei}  (US) Former Fed Chair Greenspan: Stocks are 'cheap' at the moment
[10:54] {Les} LOL what an ass
[10:54] {Les} pyjama time. back for close
[10:56] {dino} got booted.
[10:56] {dino} thx for metals idea, rode clf .99 to .30
[10:56] {Threei}  nice, lol
[10:56] {Threei}  funny sequence...
[10:56] {Threei}  heard idea, got booted, profited
[10:57] {dino} well, why let one computer boot kill your day
[10:57] {dino} thats why i have 3
[10:58] {Threei}  so, if all 3 gang up on you...
[10:58] {Threei}  "rise of the machines"
[10:59] {Threei}  we need Arnold now more than ever
[11:02] {dino} hasta la vista baby
[11:02] {dino} mdvn drop
[11:05] {Threei} Long Setup:  CAT  .50 break hl
[11:05] {Threei}  If holds  .40 
[11:10] {Threei}  let's tighten to .44
[11:13] {Threei}  not a scalp for me, looks like can do much better
[11:13] {Threei}  just need to take this .55 line in the sand
[11:14] {Threei}  good
[11:14] {Threei}  SPY helps too
[11:18] {Threei}  1:1
[11:19] {nemo} theres a vacuum to 142.20
[11:19] {nemo} on spy
[11:22] {dino} freestockcharts,com back up
[11:22] {Threei}  Les, you here by any chance or went to sleep?
[11:23] {dptl} {Les} pyjama time. back for close
[11:24] {Threei}  yeah... thought maybe he was lurking
[11:26] {Threei}  1:2
[11:26] {Threei}  nice and steady
[11:28] {nemo} bks could be short here
[11:29] {dino} like it, but none avail
[11:30] {Threei}  1:3, out
[11:30] {Threei}  this one had all the markings of a nice mover
[11:31] {Threei}  especially pleasant because it's not often that we get a chance to benefit from a slow creep up
[11:31] {scottie} got out at +.11, sclapers regret I guess
[11:32] {Threei}  1:4
[11:32] {nemo} BKS dropped 
[11:32] {dino} nice spot bks nemo
[11:33] {Threei}  1:5
[11:33] {Threei}  now I have scalpers regret, lol
[11:39] {Threei}  1:6... shoot me someone
06[11:39] * Threei slants at nemo
[11:41] {Threei}  what difference a day makes... yesterday I coudn't hit the sky while shooting vertically upward
[11:41] {nemo} or, you would miss the floor if you fell down
[11:42] {Threei}  lol
[11:42] {Threei}  1:7... staring at it is like inflicting new wounds on oneself
[11:44] {Threei}  1:8... pain never stops
[11:44] {dptl} nus news? hlf also?
[11:44] {Threei}  if I only knew how true this was: [11:13] {Threei} not a scalp for me, looks like can do much better
[11:45] {Threei}  don't see any
[11:45] {Threei}  HLF hatled, circuit breaker
[11:45] {dptl} k ty
[11:45] {nemo} spy gonna break so isn't iwm
[11:46] {RonS} Conference call, Einhorn on the call asking questions. Stock getting crushed
[11:47] {RonS} HLF
[11:48] {nemo} I wouldn
[11:48] {nemo} t be surprised now, to see spy get new highs today
[12:05] {Threei}  good thing I stopped counting CAT r/r
[12:05] {Threei}  1:10 would be tough to watch
[12:09] {Threei}  hiccup on East coast route
[12:10] {Threei}  4 connections lost at once
[12:10] {Threei}  watch this:
[12:10] {Threei}  http://goo.gl/kOwUC
[12:19] {nemo} cat looks interesting
[12:19] {Threei}  I am afraid to look
[12:20] {nemo} o.k.  looks boring
[12:28] {Threei}  http://goo.gl/irRe5
[12:28] {dino} zzzzzzzzz
[12:34] {dptl} avp .90 short?
[12:35] {Threei}  nah
[12:47] {dptl} got to go...see ya tomorrow all
[12:48] {scottie} bye dptl
[12:49] {Threei}  take care dp
[12:50] {Threei}  these vancouverites don't want to work at all
[12:50] {Threei}  they stay for the fun only
06[12:50] * Threei slaps dptl around a bit with a large candied salmon
[12:51] {dptl} lol
[12:51] {dino} bth drop
[13:05] {scottie} got kicked out of the trading room for a few minutes
[13:05] {scottie} by mibbit
[13:06] {Threei}  mibbit acts up a lot recently
[13:07] {Threei}  look at all the quits within 1 min, it's all disconnecvts by mibbit
[13:09] {dino} same here scottie
[13:14] {Threei}  5 cents range SPY for more than an hour
[13:15] {Threei}  lol
[13:15] {Les} so I missed nothing eh?
[13:16] {Les} pulled me bloody calf muscle at Aikido. Back early
[13:17] {scottie} vad, how come TNA is dropping when SPY is idle
[13:17] {Threei}  IWM is dropping
[13:17] {Threei}  TNA follows it closer than SPY
[13:18] {Les} 15 MACD - crossover. Spy could follow shortly
[13:18] {scottie} OK thanks
[13:19] {Threei}  these connections are not absolute, there is always some slack
[13:19] {dino} bth coming into s3
[13:27] {Les} potential IWM bullish divergence building here .40 is half pivot support
[13:27] {dino} bth, cmi bloodied
[13:37] {dino} bth sm l .97 risky
[13:42] {dino} mnst drop
[13:44] {Threei}  still bitter about no buyout I guess
[13:49] {dino} out bth .92 -.05 air pocket below
[13:50] {Les} tna db?
[13:50] {Threei}  nah
[13:50] {Threei}  watch MNST for db if drops closer to 64
[13:54] {dino} cmi sm l .50
[13:54] {Threei}  yeah right MNST says
[13:55] {Threei}  13:48 wsas your only chance
[13:56] {dino} wow bth, drops another buck
[13:58] {dino} hlf all over the place
[14:14] {Les} TNA back to support
[14:15] {Threei} Short Setup: HLF  .30 break small shares
[14:16] {Threei}  too fast
[14:16] {Threei}  argh
[14:16] {Threei}  arrrrggghhhh
[14:17] {Les} pirate audition?
[14:18] {Threei}  crying
[14:18] {Threei}  it's at my target... had 50 cents in mind
[14:18] {Les} ooh yeh, didn't see the break
[14:22] {dino} out cmi .75, +.25
[14:22] {Les} nice job. I got bored of it and quit flat
[14:23] {dino} trades funny
[14:25] {Threei}  market loses ground
[14:25] {Threei}  no news
[14:26] {Threei}  was looking at TZA for .50 break but setup just wasn't there
[14:31] {Les} LVS?
[14:31] {Les} bdi?
[14:33] {Threei}  no read
[14:35] {Les} RIG bdi?
[14:35] {Les} .70 is R1
[14:36] {Les} but indexes say up
[14:37] {Threei}  if SPY turns down, sure
[14:37] {Threei}  I'd take .70 break
[14:43] {Les} missed lvs. consolidated and dropped
[14:43] {dino} wow nus
[14:44] {Threei}  wow is understatement
[14:44] {Threei}  gotta look at daily to gauge the scale of the drop
[14:44] {Les} interesting support here though on daily
[14:45] {dino} following hlf 
[14:46] {nemo} what you lookin' at sheila?
[14:46] {Les} you must be talking to Vad
[14:47] {Threei}  Les
[14:47] {Threei}  I have come to a conclusion that your insults for nemo are very ineffective
[14:47] {Les} NUS. plugged in a .30 price order for potential entry. talk about regret
[14:47] {Threei}  let me show you how it's done, watch his cringing in pain:
[14:47] {Threei}  nemo, you are a nice person
[14:48] {Threei}  see? he fainted
[14:48] {Threei}  hear that thump? he hit the floor
[14:49] {nemo} Hey!  What you guys do to my uncle, I had to call the nurse.
[14:49] {Les} It's the Aikido. Knocking the aggression out of me. Never too late to change Mark.
[14:53] {nemo} Vad, don't do that again!!
[14:53] {Threei}  painful, isn't it
[14:54] {Threei}  just had to show yaong generation how it's done
[14:54] {Threei}  young too
[14:54] {nemo} as for violence reform, save that for the crunchy granola New Agey California Cambridge types...It don't work when push comes to shove, been there done that, got the tshirt
[14:54] {Threei}  watching JPM
[14:54] {Threei}  couple min consolidation, and will be short-ready
[14:55] {Les} LVS 56 b/d?
[14:56] {Threei}  probably, if panic hits
[14:56] {Threei} Short Setup: JPM  44 break
[14:56] {Threei}  If holds  .10 
[15:00] {Les} cat .50 break?
[15:01] {Threei}  no
[15:01] {Threei}  US President Obama in Afghanistan on unannounced trip to sign agreement on US post-war role
[15:01] {Threei}  I have a suggestion about that role...
[15:01] {Les} janitor
[15:02] {Les} pre-empting your suggestion
[15:02] {Threei}  ok, softening it up:
[15:02] {Threei}  "for the next 500 years we don't even watch how you kill each other"
[15:03] {scottie} JPM still valid?
[15:04] {Threei}  needs a min or two of a new consolidaion
[15:05] {Threei}  valid
[15:08] {nemo} rht at vwap
[15:10] {Threei}  gppd boy jpm
[15:10] {Threei}  good
[15:10] {scottie} target?
[15:10] {Threei}  should be 1:2
[15:11] {nemo} careful, coming into bounce territory here
[15:12] {Threei}  I see no support for it down to .80
[15:13] {Threei}  just need a little market help
[15:13] {Les} vwap under  .90. IWM at R1 support with potential to bounce
[15:13] {nemo} I have vwap and retracement just under .90
[15:13] {Threei}  well, let's just play it by the book
[15:13] {Threei}  partial and trail
[15:14] {Threei}  IMO, no vwap will help it if FAS continues dropping as it does
[15:15] {Threei}  let's cover half
[15:15] {Threei}  trail stop to .02
[15:15] {Threei}  and let it trade
[15:17] {Les} TNA whaddya think fish boy?
[15:18] {Threei}  don't
[15:18] {Threei}  the only way TNA becomes a play is one more pullback, holding 60, then break of .10
[15:19] {Threei}  otherwise it's a total dice roll
[15:19] {Les} yeh the bullish divergences are there. Just need a set up.
[15:21] {nemo} yeah, well that double top that hit the 20 on the 1 minute is bearish, should go, but right here is the deal, xlf is also at vwap
[15:21] {Threei}  there you go
[15:21] {Threei}  that .10 break would have been a trap
[15:21] {nemo} yeah, you've got a nice clean stp now
[15:22] {Threei}  that was simply a bounce into upper envelop of downward channel
[15:23] {nemo} o.k. that too
[15:29] {Les} GS leading down through vwap
[15:31] {Threei}  US to designate Afghanistan a major non-NATO ally, US officials say
[15:31] {Threei}  with such allies, who needs enemies
[15:31] {nemo} yeah, until we bomb the shit out of them
[15:31] {Les} yeh, against pakistan. nice one...
[15:36] {Threei}  ok JPM, go to .80 and let us finish this good day on a great note
[15:36] {Les} iwm pivot here
[15:36] {Threei}  windshields of the world, unite
[15:37] {Threei}  look:
[15:38] {Threei}  - NYSE volume 520M shares, about 1% below its three-month average
[15:38] {Threei}  NASDAQ volume 1.45B shares, about 5% above its three-month average;
[15:38] {Les} sell that sucker
[15:38] {Threei}  as soon as volume is back, our setups work like charm
[15:42] {Les} Nemo I noticed that SPY respected that uptrend line as resistance today
[15:45] {nemo} give me a sec, not at home
[15:47] {Les} well get off yer boyfriend and get in front of a screen
[15:47] {nemo} I'm at the hospital
[15:47] {Les} aah. ok
[15:47] {Les} tna
[15:47] {Les} db for a finish?
[15:47] {Les} nah forget that
[15:48] {nemo} I think they have to hunt buy stops tomorrow, we're too close, unless something blows up, not too...too much money to be made breaking the highs
[15:49] {dino} bit of a sell off
[15:53] {Les} jpm made target without me
[15:53] {Les} c u's tomorrow
[15:53] {Threei}  1:2
[15:54] {Threei}  out
[15:54] {Threei}  why wiothout you?
[15:54] {thomcbell} no u's cant leave
[15:54] {Les} dumped it following the .85 bounce
[15:54] {Threei}  shrug
[15:54] {scottie} chickened out at .84 +.15, ty Vad
[15:54] {thomcbell} now u's
[15:54] {Threei}  stop isn't hit - it's a noise
[15:54] {Threei}  yw
[15:54] {Threei}  great finish
[15:55] {Threei}  good day
[15:55] {Threei}  vindicated for yesterday's buggy performanve
[15:55] {scottie} se you all tomorrow.
[15:55] {scottie} see
[15:55] {Threei}  have a good evening guys
[15:55] {Threei}  see you tomorrow