Wednesday, May 23, 2012

May 23 2012

Some plays worked very well, some got stopped... just above the waterline overall, with second half of the day nearly useless as often happens when market creeps up. Catch of the Day repeats yesterday's theme, with exact call on the 1:4 target:

Session Time: Wed May 23 00:00:00 2012
[09:11] {ese} morning
[09:11] {Threei}  do I really see green on FB?
[09:11] {Threei}  morning ese
[09:11] {thomcbell} and up from near $30 this am
[09:11] {Threei}  yeah
[09:11] {Threei}  ese, too bad you had to leave early yesterday... great trading day
[09:15] {ese} I left with almost $300 cool clear clean crisp canadian beauties.....will take it
[09:16] {Threei}  hard to argue with that
[09:16] {ese} would like to stay longer but my schedule this has made that tough.....will be different next year
[09:20] {Threei}  so, this weekend they are having informal summit, and they say everything will be decided (or not) there
[09:21] {ese} as oppose to the "formal" summit where they will actually make a decision
[09:22] {Threei}  yeah
[09:22] {ese} I like the daily on USHS....this should be good for a bean or two
[09:22] {Threei}  their options are narrowed down to one question actually: will they be able to press frau Merkel into Eurobonds or not
[09:22] {Beau} good morning all
[09:22] {Threei}  Beau :)
[09:22] {ese} B
[09:22] {RonS} heard merkel is not attending
[09:22] {Threei}  wow, really?
[09:23] {dino} gm
[09:23] {RonS} going to the real summit in june
[09:23] {Threei}  doesn't want to face this united pressure
[09:23] {Threei}  dino :)
[09:23] {Threei}  can't blame her
[09:24] {RonS} hearing german tourism to greece is down 30%...people afraid of getting lynched
[09:27] {RonS} dino, dmnd got $255 mil (think) financning fro Oaktree...56% float short...over 10 mil shares
[09:27] {nemo} btw, I highly recommend Jack Daniel's Tennessee Honey
[09:29] {Threei} Short Setup: FCX  .50 break hl
[09:29] {Threei}  If holds  .60 
[09:31] {Threei}  no... too volatile yet
[09:35] {Threei} Long Setup:  SLW  .10 break
[09:35] {Threei}  If holds  25 
[09:37] {ese} L low .54
[09:38] {Threei}  1:1
[09:38] {ese} daaaaa crappy fill ..absolute high of 9:37 bar
[09:38] {Threei}  dino'skicking his keyboard again?
[09:39] {Threei}  1:2
[09:39] {Threei}  out un full .35
[09:40] {dino} my computer is dieing a slow death
[09:40] {Threei}  looks like... time for a change
[09:40] {nemo} how old?
[09:40] {dino} 5 years
[09:40] {nemo} done
[09:40] {dino} yeah
[09:41] {nemo} you ever clean the fan and reseat the heatsink?
[09:41] {nemo} is it XP?
[09:42] {dino} yes
[09:42] {Threei} Long Setup:  GLD  .50 break hl
[09:42] {Threei}  If holds  .40 
[09:42] {nemo} you ever do a clean reinstall of XP?
[09:43] {dino} never
[09:43] {Threei}  Invalidated  
[09:43] {nemo} o.k.  do that, or get a registry cleaner
[09:43] {dino} i just use this computer for vads room. will go to netbook once this fails
[09:43] {nemo} XP is notorious for registry growth, it will kill performance
[09:43] {dino} thx
[09:44] {Threei}  change to .40 break if holding .30
[09:44] {dino} gaps below 11766, 2393, 1289
[09:44] {Threei}  too fast?
[09:44] {Threei}  1:1
[09:47] {Threei}  valid again
[09:47] {Threei}  not anymore
[09:48] {Threei}  rather switching to TZA long on pullback
[09:48] {ese} out Low .43 -.11 not waitin for it o hit stop loss....looks weak to me
[09:49] {RonS} eur dive
[09:49] {RonS} hg too...copper
[09:49] {dino} retail and builders holding well
[09:50] {Threei}  (EU) EU's Juncker: Today's informal EU summit will be 'undramatic'- Eurobonds to be discussed but do not expect any decision or movement on the issue
[09:50] {Threei}  heh
[09:50] {dino} fosl, dks, tol, dhi
[09:51] {Threei}  (EU) France Presidential Advisor Aghion: Southern European euro zone states will need a debt haircut - German press interview- Banks from these countries will need additional help to survive - Not able to see how see how Greece, Spain and Portugal can ever really grow again without a haircut
[09:51] {Threei}  haircut aka beheading
[09:51] {Threei}  we have seen this movie
[09:51] {Threei} Long Setup:  TZA  .65 break
[09:51] {Threei}  If holds  .55 
[09:52] {dino} they will issue the eurobonds, recap the banks, and print like an hp
[09:52] {Threei}  well... Germany refuses to back that up, as they are the ones who will have to play for this
[09:53] {Threei}  play = pay
[09:53] {dino} germany will come around
[09:53] {ese} like the look of dhi if it pulls back
[09:53] {Threei}  then we are to see inflation of grandiose scale
[09:55] {Threei}  what the deuce
[09:56] {ese} well LOW fooled me
[09:56] {Threei}  numbers are coming at 10
[09:57] {dino} federalism coming to europe, w/germans in charge. a wish germany always wanted (in charge of europe)
[09:57] {dino} qcom sm l .40
[09:57] {Threei} Long Setup:  TZA  .45 break
[09:57] {ese} which #'s vad?
[09:58] {RonS} new housing
[09:58] {RonS} sales, prices
[09:58] {Threei}  apr new home sales and mar housing prices
[09:58] {Threei}  If holds  .40 
[09:59] {Threei}  *(US) APR NEW HOME SALES: 343K V 335KE
[10:00] {Threei}  *(US) MAR HOUSE PRICE INDEX M/M: 1.8% V 0.3%E;
[10:01] {Beau} I hate tza
[10:02] {Threei}  it just reflects sudden jerks in SPY
[10:04] {dino} me too
[10:04] {dino} rosg?
[10:05] {ese} i tried that one the other day dino.......trades really bizzare......not to mention was hard to get out
[10:05] {cipher} aapl l 557.86
[10:05] {ese} rosg that is
[10:05] {cipher} out 1/2 559
[10:06] {cipher} out rest 558.50
[10:07] {Threei} Long Setup:  HAS  .60 break hl
[10:10] {Threei}  Invalidated  
[10:14] {Threei} Long Setup:  FAZ  .80 break
[10:16] {Threei}  If holds  .70 
[10:16] {Threei}  target 1:4
[10:16] {dino} crashed again. out qcom .70, 
[10:16] {dino} +.30
[10:16] {Threei}  nice one
[10:17] {dino} ty
[10:17] {Threei}  1:1
[10:17] {Threei}  stop to .74
[10:18] {dino} eyes on qcom, becn, dhi, fosl, rail
[10:19] {Threei}  stop to .79
[10:19] {Threei}  1:2
[10:23] {Threei}  stop to .84
[10:24] {Threei}  1:3
[10:24] {Threei}  stop to .89
[10:25] {Threei}  beau... switched from TZA to FAZ specifically for you on this one
[10:25] {Beau} bless you.   much nicer attitude
[10:25] {Threei}  1:4, out
[10:25] {Threei}  :)
[10:26] {Beau} bailed with .32.  thanks vad
[10:26] {RonS} gco big pulp dino
[10:26] {Threei}  welcome sir
[10:30] {Threei}  EUR/USD Breaks below 1.2600 for first time since summer of 2010
[10:31] {dino} gco beats and raises, hmmm
[10:31] {Threei}  read this guys:
[10:31] {Threei}  (EU) Preview: Informal EU Summit schedule for after the European market close
[10:31] {Threei}  Insight on various issues
[10:31] {Threei}  1) Increasing European Investment Bank (EIB) capital by �10B -
[10:31] {Threei}  2) Easing rules for national govt to use EU budget funds -
[10:31] {Threei}  3) Raising money for infrastructure funds (project bonds) -
[10:31] {Threei}  4) Giving Euro Zone bailout fund access to ECB credit -
[10:31] {Threei}  5) Using bailout funds to recapitalize banks directly -
[10:31] {Threei}  6) Introducing Eurobonds
[10:32] {cipher} tna l .81
[10:32] {nemo} yep
[10:34] {nemo} spy not cooperating
[10:35] {cipher} out tna -12
[10:39] {Threei}  panic
[10:40] {Threei}  but just wait to see what happens when SPY loses 130
[10:40] {dino}      gco smr l .51
[10:41] {Threei}  visual
[10:41] {dino} lose 130 going to gap 1289
[10:42] {dino} out tol .29, +.30
[10:43] {dino} dhi l .48
[10:44] {cipher} tza l .81
[10:45] {Threei}  very nice entry
[10:45] {Threei}  kangaroo tail
[10:46] {cipher} out 1/2 .94
[10:46] {Threei}  beautiful one cipher
[10:47] {cipher} out in full .99
[10:47] {cipher} ty
[10:47] {Threei}  let's convince Beau TZA is not a lost cause :)
[10:48] {Beau} ok, prove it :)  
[10:48] {Threei}  cipher just did :)
[10:48] {Beau} oh yea.
[10:49] {Beau} that was a nice job cipher.  it likes you better
[10:49] {cipher} am I missing something...
[10:49] {cipher} what's wrong with TZA?
[10:50] {nemo} why, what happened?
[10:50] {Beau} joke from earlier said I hate it
[10:50] {nemo} oh yeag
[10:51] {Threei}  10:01] {Beau} I hate tza
[10:51] {ese} cya tomorrow
[10:51] {Threei}  see, I don't discriminate... I am an equal opportunity hater
[10:51] {Threei}  I hate them all when they don't work
[10:52] {Beau} lol
[10:52] {cipher} ibm l.54
[10:56] {cipher} out flat
[10:56] {dino} tol sm l .01
[10:57] {cipher} ditto
[11:01] {dino} battle line
[11:03] {dino} out gco .98, +.47 ty ron
[11:03] {RonS} yw
[11:03] {Threei}  wtg
[11:04] {cipher} tna l .27
[11:04] {cipher} out 1/2 .42
[11:06] {cipher} 1/4 more .53
[11:08] {dino} gj
[11:14] {RonS} from Bloomberg:  About 18 million Facebook shares are on loan, an indication of short-sellers’ interest
[11:14] {cipher} stopped on remainder tna out tol .15 +.14 thx dino
[11:14] {Threei}  amazing
[11:15] {Threei}  I don';/t think I've ever seen this in such early days of IPO
[11:15] {dino} it was more a secondary than an ipo. greater fool
[11:15] {Threei}  true
[11:16] {Threei}  all things that could have been done wrong on this one were
[11:18] {dino} never forget who the sell side works for
[11:19] {dino} dhi to b/e
[11:20] {dino} out dhi .54, +.06
[11:23] {dino} tol to .09, don't like mkt drop
[11:26] {RonS} lol...Stephen Colbert voted one of Maxim's hottest women
[11:27] {Threei}  ummm
[11:28] {RonS} young men's mag that runs tasteful displays of hot women
[11:28] {RonS} i've been told...
[11:29] {RonS} :D
[11:29] {dino} lol
[11:34] {dino} out tol .11, +.10
[11:38] {RonS} reality stranger than fiction:  see that Germany sold 2 yr bonds yesterday for .07%
[11:39] {RonS} but now that i think about it perhaps they should be charging the rest of the europeans for taking their money...
[11:48] {RonS} RAH buys a private cookie maker in deal that is immediately accretive
[11:49] {RonS} is down because the name is Petri Baking and anything in a petri dish is creepy?
[11:49] {RonS} ok, will stop since jokes are sounding Soviet-ish...
[11:50] {Threei}  lol
[12:21] {dino} things froze
[12:21] {nemo} lunch time Summer trading
[12:29] {Threei}  breakdown looks tempting but this time of the day rinses are abundant
[12:29] {RonS} pvh reports ah...gone pulp
[12:35] {dino} gco app lod
[12:38] {dino} gco blood, hate to see a miss
[12:38] {nemo} don't look
[12:43] {dino} damn it missed entry
[12:45] {RonS} lol...Someone want to define the difference between a bribe and aid? Maybe WMT should just say it "aided" Mexican officials
[12:50] {nemo} we call it bribery, most other places in the world, that's business
[12:50] {nemo} ask the mafia
[12:54] {Threei}  "libricant"
[12:54] {Threei}  i=u
[12:54] {nemo} wow
[13:00] {dino} gco smr l .67
[13:08] {dino} out gco .27, +.60
[13:11] {RonS} gj...tagged it 66.40 to 67.52
[13:11] {dino} beauty
[13:16] {RonS} sheesh look gdx
[13:16] {nemo} yeah
[13:22] {Threei}  (SE) Sweden PM Reinfeldt: Skeptical concerning Eurobonds; EMU moving in the right direction
[13:22] {Threei}  I agree
[13:22] {Threei}  right direction being the litterbox
[13:23] {dino} wow gco
[13:36] {Threei}  (PT) Portugal said to have reported a Jan-April govt, social security deficit - financial press
[13:42] {RonS} supposed to be surprising?
[13:43] {Threei}  don't know
[13:43] {dino} expected
[13:43] {Threei}  not much fron Europe can surprise me anymore
[13:44] {Threei}  let me give you a pleasant visual from my yesterday's backyard passtime...
[13:47] {RonS} ...great shot...need to send it to peta
[13:47] {Threei}  lol
[13:49] {RonS} don't know why i think this is funny but lol...New York bride who faked cancer, so donors would pay for wedding and honeymoon, sentenced to time served
[13:49] {Threei}  does she get to keep the money?
[13:53] {RonS} dunno, probably spent...
[13:57] {RonS} new lexicon: I got zucked...proof in concept:  SEC FORM 4: Zuck sells 30.2m shares of $FB common stock at $37.58
[13:59] {Threei}  lol
[14:00] {RonS} so is that $1.1 billion or 11.1? calculator won't go that high
[14:00] {dino} dk, but if 11b, then he just sold about 70% of his holdings
[14:00] {Threei}  whatever it is, he can aford going to movies this coming weekend
[14:01] {dino} not really confidence inspiring
[14:01] {RonS} probably Men in Black...
[14:01] {Threei}  Men in Black Hoodies
[14:01] {RonS} lol
[14:02] {Threei} Long Setup:  FAZ  .10 break
[14:02] {RonS} can tell you are no longer in soviet union...
[14:02] {Threei}  If holds  28 
[14:09] {dino} coming into contra-hour, gut feel, re-test lod
[14:09] {Threei}  grrr
[14:12] {Threei}  be back in 20
[14:16] {RonS} squeeze in mfrm...
[14:17] {dino} no news, destroyed week or so ago
[14:18] {RonS} 24% float short
[14:20] {RonS} faz rinse
[14:37] {Threei}  grr
[14:37] {Threei}  knew it was going to do that
[14:40] {RonS} aem went nuts
[14:51] {dino} z spike
[14:52] {RonS} ya the social media stocks are catching a bid after getting smashed w/ fb
[14:58] {dino} tol drop
[15:00] {Threei}  (US) Fed's Kocherlakota: Higher US treasury prices suggests investors anticipating the US Govt can fix its deficit issues
[15:00] {Threei}  idiot
[15:01] {Threei}  they simply flee Europe
[15:01] {RonS} unreal
[15:01] {Threei}  sensing that US problem is going to come down to the wire at the later time
[15:02] {Threei}  oh my god
[15:02] {Threei}  (US) Fed's Kocherlakota: Inflation shows US is closer to maximum employment than jobs data does
[15:03] {Threei}  I want what he is smoking
[15:03] {Threei}  must be fantastic stuff
[15:03] {RonS} dino, my computer was kicking into go slow mode so bought a dell i7 computer through costco last jan.  no problems since.  here is an offer for reference: 
[15:05] {Threei}  SPY topping pattern
[15:06] {Threei}  let's see if we can get FAZ under .60
[15:06] {dino} thx ron. i have 3 systems running. one for trades (2 years old), one for charts/email/news (bgt in march), and the dog i use for this chat room. i am just running this until it pukes, then will relace my trade one and use trade computer for room
[15:07] {Threei} Long Setup:  FAZ  .60 break
[15:08] {Threei}  change to .50
[15:09] {Threei}  invalidated
[15:09] {Threei}  no news yet
[15:10] {dino} bumming, i missed this whole rally
[15:15] {Threei}  weird spike for no news
[15:15] {Threei}  have to try it
[15:16] {Threei} Long Setup:  TZA  .30 break
[15:16] {Threei}  .24 stop
[15:17] {Threei}  sigh
[15:30] {Threei}  hate these relief rallies
[15:33] {Threei} Long Setup:  TZA  22 break
[15:33] {Threei}  If holds  .90 
[15:34] {Threei}  Invalidated  
[15:36] {Threei}  changing to .90 break
[15:36] {Threei}  If holds  .80 
[15:36] {Threei}  with 1:2 in mind
[15:37] {Threei}  Invalidated  
[15:41] {Threei}  ok... last chance
[15:41] {Threei}  .65 break
[15:43] {Threei}  lol
[15:44] {Threei}  still have 15 min though
[15:44] {Threei}  that was second to last chance
[15:44] {Threei}  .55 break
[15:46] {Threei}  half out .62
[15:46] {Threei}  stop to .54
[15:51] {Threei}  decent move
[15:55] {Threei}  ok guys, thank you
[15:55] {Threei}  have a good evening, see you tomorrow