(Course on chart pattern recognition is available now: http://www.realitytrader.com/111trades.html)
Session Time: Thu May 31 00:00:00 2012
[09:10] {scottie} good morning
[09:10] {Threei} scottie :)
[09:11] {dptl} gm
[09:12] {Threei} dp :)
[09:14] {Threei} meek opening
[09:14] {Threei} tried to pen positively, was killed by bad jobless claims
[09:15] {Threei} claws slowly back to flat
[09:16] {ese} morning
[09:17] {Threei} ese :)
[09:18] {ese} drugs...........drugs are the answer........although it doesn't seem to stave of dizzyness
[09:18] {Threei} now we know howe FB IPO was concieved
[09:18] {ese} lol
[09:19] {Beau} good morning all
[09:19] {Threei} under heavy drug influence and in dizzy state
[09:19] {Threei} beau :)
[09:19] {ese} B
[09:22] {Threei} btw ese... look at AONE
[09:22] {Threei} posted going concern yesterday
[09:25] {ese} just over a buck
[09:25] {ese} that'll be facebook soon
[09:26] {Threei} lol
[09:26] {Threei} I don'tthink it's that bad...
[09:30] {nemo} wow , Joy
[09:32] {Threei} Long Setup: SLW .30 break
[09:32] {Threei} If holds .20
[09:32] {nemo} whippy
[09:33] {Threei} Long Setup: FCX .30 break
[09:33] {Threei} If holds .20
[09:33] {Threei} 1:1
[09:34] {Threei} change FCX to .25
[09:35] {Threei} same stop though
[09:35] {cipher} out slw .50 thx
[09:35] {Threei} SLW 1:2, out
[09:35] {Threei} cipher :)
[09:36] {nemo} cat must be down on joy news
[09:36] {Threei} out FCX
[09:36] {Threei} missed exit into spike
[09:44] {nemo} cat should bounce here
[09:47] {Threei} watching GDX
[09:48] {Threei} Long Setup: GDX .40 break
[09:49] {Threei} change to .30
[09:49] {nemo} this is very hefty spy volume
[09:50] {Threei} Invalidated
[09:50] {dino} cat sm l .35
[09:50] {Threei} .25 break
[09:51] {Threei} If holds .15
[09:52] {Threei} target .45
[09:53] {Threei} no go
[09:54] {nemo} 200 sma on iwm here
[09:54] {nemo} l tna .31
[09:55] {ese} L eln .19
[09:55] {nemo} out
[09:56] {dino} out cat -.10, market feels like big drop coming
[09:56] {nemo} yeah
[09:56] {Threei} don't even look at FB if you don't want nightmares
[09:57] {Threei} although it's ready for bounce
[09:58] {nemo} volume dropping on spy
[09:58] {Threei} Long Setup: FB .50 break hl
[09:58] {Threei} If holds .40
[09:59] {Threei} 1:1
[09:59] {dino} cat sm l .36
[10:01] {dptl} lgf .10 long?
[10:02] {Threei} yes, if market continues up and it holds 13
[10:03] {dptl} ok
[10:04] {Threei} Short Setup: SLW .80 break
[10:04] {Threei} If holds .90
[10:05] {dino} out cat .52, +.16
[10:08] {Threei} die already SLW
[10:08] {nemo} l spxu .31
[10:08] {dino} value added research, ubs raises dhi to 16.50 from 14. its trading at 16.21 right now
[10:09] {Threei} rofl
[10:09] {nemo} 1/2 .45
[10:10] {Threei} 1:1
[10:10] {nemo} think we go to 75 on iwm and possibly 130.20 area spy
[10:10] {dino} want to really laugh? kbw raises tol to 24 from 22. it trades at 26.50
[10:10] {dptl} out slw ty
[10:10] {nemo} stop is .23
[10:12] {nemo} out here
[10:12] {nemo} spy and IWM look like they're strengthening
[10:13] {scottie} slw +.08 ty
[10:13] {dino} gj
[10:14] {dptl} mpel .40long?
[10:15] {nemo} wow, iwm and spy are down the same amount
[10:17] {dino} tol l .50
[10:17] {dino} becn l .75
[10:19] {ese} theres no explaining those analyst guys.............gotta wonder how connected they are and what valuation models they follow dino
[10:19] {thomcbell} looking for an lvs entry here
[10:20] {nemo} they're failed fiction writers
[10:20] {dino} pretty much worthless
[10:21] {ese} yup
[10:23] {dino} out tol .65 +.15
[10:25] {thomcbell} lvs was too fast
[10:27] {nemo} l tna .81
[10:27] {nemo} stop under .70
[10:28] {dino} pay sm l .50
[10:28] {nemo} 1/2 .91, big offer .92
[10:29] {ese} L fas .00
[10:29] {ese} 1/2 out .09 +.09
[10:30] {ese} stopped .91 -.09
[10:30] {ese} go figure
[10:30] {nemo} mmhhhh, anf short ?
[10:32] {ese} sucre blu..........fas ya piece a ......*&^&^%
[10:34] {nemo} 1/4 ore .00
[10:38] {Threei} Long Setup: FAZ .80 break
[10:39] {Threei} If holds .75
[10:39] {nemo} piy
[10:39] {nemo} out .99
[10:39] {nemo} shoulda' taken last at .25
[10:41] {Threei} half out .88
[10:42] {Threei} stop to .79
[10:46] {dptl} chk .90 short?
[10:47] {Threei} 1/4 more out .93
[10:47] {Threei} I think so CHK
[10:48] {Threei} out FAZ in full
[10:48] {Threei} not too shabby for 6 cents risk
[10:52] {dptl} missed it
[10:52] {dptl} chk
[10:54] {Beau} nice one vad
[10:55] {Threei} :)
[10:57] {Threei} visual http://goo.gl/CVoS8
[10:59] {ese} out eln .00 -.19.....so much for that 1/2 lot too much drift for me
[10:59] {ese} cya tomorrow.....just one of dem days
[11:00] {dino} cya ese
[11:02] {Threei} CHK was kind enough to go back and pick you up, dp
[11:03] {dptl} it was, but i was't there anymore
[11:03] {dino} stop pay -.20
[11:05] {Threei} why not watch it for a second chance entry?
[11:13] {scottie} FB .10 ?
[11:15] {thomcbell} what a fiasco FB
[11:15] {scottie} invalidated anyway
[11:15] {scottie} Vad, was it a DB
[11:15] {dino} cat sm l .10
[11:15] {Threei} yes, but without clear trigger
[11:15] {scottie} thx
[11:30] {nemo} tjx
[11:38] {dino} out cat .80, +.70
[11:38] {Threei} wtg
[11:38] {dino} ty
[11:53] {thomcbell} long setup lvs 45.12 break if holding 45
[11:53] {thomcbell} target is 45.40
[11:54] {dptl} rost .10 long?if holding 63
[11:54] {Threei} hmmm
[11:54] {Threei} something isn't right about it
[11:54] {dino} tol ml .45
[11:55] {Threei} I can't quite pipoint it, dp... but something in me resists this trade
[11:55] {dptl} ok
[12:06] {thomcbell} lvs stop at 44.99 and possible go short opportunity because it has got nothing
[12:06] {Threei} feels short to me too
[12:08] {thomcbell} i paired it in half on that spike - lvs
[12:08] {thomcbell} negligible long position
[12:08] {Threei} good idea
[12:10] {thomcbell} out 45.19
[12:10] {thomcbell} it smells bad
[12:10] {Threei} hey, it's Vegas
[12:11] {Threei} US household debt has fallen by $1.5 trillion total since '08; but student loan debt is up by ~$300bn during that time, says NY Fed
[12:12] {Threei} Only 19% See Obama, Romney As Best Possible Presidential Candidates
[12:13] {Threei} do the 81% have better idea?
[12:13] {thomcbell} oh well
[12:13] {dino} out dhi .26, +.19
[12:14] {dino} out tol .65, +.20
[12:25] {dptl} pir?
[12:27] {Threei} can't tell
[12:27] {Threei} marlet switched to me least favorite mode
[12:27] {Threei} me = my
[12:34] {Threei} (GR) Rumors circulating on twitter that Greece now requiring govt approval for large wire transfers- The chatter is that wire transfers larger than �50K are now subject to approval.
[12:40] {Threei} from what I see, market goes up and down with every new poll from Greece
[12:40] {Threei} latest polls showed today that pro-bailout parties should form the government, and market went up
[12:42] {nemo} goldman knows something
[12:44] {Threei} ?
[12:44] {nemo} when they took off market did, if they keep going soemthing is going on
[12:45] {Threei} I am not sure about the connection about what they know and whnat their stock does... it's not like they aasign the price to their stock, is it
[12:56] {nemo} think they trade their own stock?
[12:58] {Threei} don't know
[12:58] {nemo} I do
[12:58] {Threei} but even if they do, it doesn;t mean they can command the price as they want
[12:58] {nemo} Do yo think they might know what info might affect their stock price?
[12:58] {Threei} that's insider trading
[12:59] {Threei} who needs that
[12:59] {nemo} I mean largermacro information
[12:59] {Threei} there are a lot of ways to trade on their awareness without conflicting with law
[12:59] {nemo} yep
[12:59] {Threei} right, so why would they chose their own stock for that?
[13:00] {nemo} not that the news is specifically about their stock, just how news might affect their stock
[13:00] {Threei} toeing so close to troubles, while there are thousands of other vehicles... sahrug
[13:02] {dptl} tot .15 long?
[13:02] {Threei} if SPY continues climbing...
[13:02] {Threei} TOT mirrors it practically 1:1
[13:05] {dptl} ok
[13:06] {dptl} in
[13:07] {dptl} stop under .05
[13:12] {nemo} this should be a top
[13:18] {scottie} .
[13:19] {Threei} Long Setup: TZA 22 break
[13:19] {Threei} If holds .90
[13:20] {nemo} gs droppin
[13:20] {Threei} Long Setup: FAZ .30 break
[13:20] {Threei} .20 sorry
[13:21] {Threei} If holds .10
[13:21] {dptl} out tot -.02
[13:22] {dptl} in tza
[13:24] {Threei} FAZ 1:1
[13:27] {dino} out becn .85, +.10
[13:27] {Threei} TZA 1:1
[13:27] {dptl} half out
[13:30] {dptl} out
[13:39] {Threei} FAZ 1:2, out
[13:49] {dptl} slb .90 short?
[13:49] {Threei} yes but half lot
[13:49] {Threei} can be pulpy
[13:50] {dptl} in stop above 63
[13:52] {dptl} half out
[13:53] {Threei} good spot
[13:57] {dptl} stop to .91
[13:58] {dptl} out
[14:08] {dptl} chk .65 long?
[14:09] {Threei} with stop under .60
[14:09] {Threei} why not
[14:13] {Threei} uh oh
[14:13] {Threei} NASA predicts our galaxy, the Milky Way, will collide with the nearby Andromeda galaxy in 6 billion years
[14:13] {Threei} and market is going up??
[14:20] {dptl} in chk
[14:20] {scottie} Gotta go, see you tomorrow
[14:20] {Threei} take care scottie
[14:29] {dptl} half out .71
[14:29] {dptl} stop to .64
[14:29] {dptl} offering .80 last part
[14:34] {dptl} out
[14:37] {dptl} chopy today
[14:39] {nemo} looks like we might get a run into the close, having said that, we're hovering in the area of the WPP for both spy and iwm
[14:40] {Threei} (ES) IMF source is playing down reports of a Spain contingency plan; notes that it is 'normal' to look at a variety of scenarios - CNBC's Liesman**Reminder: Earlier today reports from sources indicated that the IMF was exploring contingency plans, including a possible �300B loan for Spain over 3 years. Prior to that an IMF official stated that there are no current plans for a Spanish bailout, but an economic review of Spain would begin on June 4. - Follow up 13:37ET: Spain Finance Ministry: there is no IMF bailout plan; not aware of any steps being taken by the IMF.
[14:43] {dptl} kss .25 long?
[14:45] {Threei} nah
[15:00] {dptl} nem .95 short?
[15:00] {Threei} I'fd rather go fir aggressive 47 entry
[15:01] {Threei} smaller stop, easier entry
[15:01] {dptl} k
[15:01] {Threei} also, how much coffee have you added to morning shot of vodka?? :)
[15:02] {dptl} lol
[15:09] {dptl} freaking chk
[15:40] {Threei} watching if we get double top
[15:40] {Threei} then FAZ weill be a buy round .50
[15:40] {Threei} with stop under .45
[15:43] {Threei} no chance
[15:46] {Threei} this one really got away eh
[15:50] {dptl} fb?
[15:50] {Threei} shrug
[15:50] {Threei} can't short it anyway
[15:51] {Threei} empty last hour
[15:51] {Threei} fine day overall though
[15:51] {Threei} OK guys, thank you all
[15:51] {Threei} have a good evening, see you tomorrow
[15:52] {dptl} gn
