(Course on chart pattern recognition is available now: http://www.realitytrader.com/111trades.html )
Session Time: Tue Jun 12 00:00:00 2012
09:02] {Threei} General Motors Corp CEO: US Treasury needs to come up with exit plan; should determine a plan of exit without harming share price
[09:03] {Threei} problem with such help ias, at some point you need to pay for it...
[09:11] {nemo} well, kinda' tough when you own 60+% of the sharesm,,,dumb bastard
[09:12] {Threei} uhhu
[09:12] {nemo} that's Like JPM and the London Whale's position, there is no way out
[09:13] {nemo} what up with kors?
[09:13] {scottie} gm
[09:13] {Threei} Michael Kors Holding Ltd Reports Q4 $0.22 v $0.16e, Rev $380M v $361Me- Guides Q1 $0.18-0.20 v $0.16e, R$360-370M v $323Me - Guides initial FY13 $1.08-1.12 v $0.99e, R$1.7-1.8B v $1.67Be
[09:13] {Threei} scottie :)
[09:14] {nemo} love this long tail action in spy premarket, was looking going long above 131.60, both those long tails woulda stopped me out
[09:15] {nemo} every frickin morning this happens pre market
[09:15] {Threei} that's premarket for you
[09:15] {nemo} "Many people take no care of their money till they come nearly to the end of it, and others do just the same with their time." - Goethe
[09:24] {dptl} gm
[09:24] {Threei} dp :)
[09:25] {ese} gm
[09:25] {Threei} ese :)
[09:26] {ese} Vad.......am wondering if I can hire you to take some pictures of the band at Butchart Gardens this summer?
[09:27] {ese} Saturday July 14th
[09:27] {Threei} I guess
[09:27] {Beau} good morning you all
[09:27] {ese} B
[09:27] {Threei} have to verify with my manager that we have no social commitments for that date
[09:28] {Threei} Beau :)
[09:28] {ese} excellent
[09:29] {ese} you'll need a roadie to haul your gear.....call nemo
[09:31] {Threei} Long Setup: TZA .05 break
[09:31] {Threei} late
[09:32] {Threei} Long Setup: TNA .65 break hl
[09:32] {Threei} what the deuce
[09:32] {Threei} they trigger while I hit enter
[09:32] {nemo} ok it's chop time
[09:33] {nemo} I'm waiting a while
[09:34] {Threei} yeah, but TNA was particularly good setup
[09:34] {Threei} Long Setup: TZA .90 break
[09:34] {Threei} If holds .80
[09:34] {Threei} change to .80 break
[09:35] {Threei} If holds .75
[09:36] {Threei} half out .89
[09:37] {Threei} 1/4 out .96
[09:37] {Threei} stop .85
[09:37] {nemo} not taking any chances, are you
[09:37] {Threei} ?
[09:37] {scottie} scalped it at +.10 ty
[09:38] {Threei} :)
[09:38] {Beau} scalped .12 thx vad
[09:38] {Threei} yw
[09:39] {Threei} come on TZA, break 22 and run
[09:40] {Threei} stop to .89
[09:40] {ese} ok ...L arna .40....don't this at home dangerous
[09:42] {Threei} Long Setup: FCX .15 break hl
[09:42] {Threei} If holds .05
[09:42] {Threei} out last piece TZA .06
[09:43] {Threei} aww... too soon
[09:43] {Threei} FCX looks ready
[09:44] {Threei} target .35
[09:45] {Threei} 1:1
[09:45] {Threei} stop for balance to .13
[09:46] {scottie} +.11 ty
[09:46] {Threei} yw
[09:47] {Threei} target hit, out
[09:47] {scottie} 1:2 in 3 min. great call
[09:48] {thomcbell} well done Vad
[09:48] {Threei} ty
[09:48] {Beau} good one vad
[09:48] {Threei} noticed over last few months, Mondays are often somewhat dazzled, Tuesdays are much more stable
[09:49] {ese} dino ....if your hangin let me know what you think of PNC
[09:50] {Threei} Short Setup: X .20 break
[09:51] {Threei} If holds .25
[09:52] {scottie} couldn't short it, too bad
[09:54] {cipher} fcx s .49
[09:54] {Threei} cover half .12
[09:54] {Threei} stop to .21
[09:54] {cipher} cov 1/2 .39
[09:54] {nemo} gg .30 level
[09:54] {Threei} nice one cipher
[09:55] {cipher} cov rest .30
[09:55] {cipher} ty
[09:55] {Threei} beautiful kangaroo tail on that FCX
[09:55] {ese} L pnc .48 sm
[09:56] {Threei} Long Setup: TNA .10 break hl
[09:56] {Threei} If holds 46
[09:56] {Threei} Invalidated
[09:56] {Threei} out X .05
[09:57] {nemo} chop chop chop chop slice slice slice
[09:57] {Threei} that's OK, we are chopping in the right direction so far
[09:57] {ese} i'll say nemo.........
[09:57] {Threei} it's when they chop us that I object chop :)
[09:58] {Threei} German 10-year Bunds Dealers note that European govt yields higher in core countries too in session with rotational theme out of Europe fixed income instruments taking place- German 10-year yield at 1.41%, higher by over 10bps - France 10-year yield at 2.68%, higher by almost 15bps
[09:58] {ese} up arna dn pnc.....chop chop chop
[09:59] {ese} spyders driving me crazy
[09:59] {cipher} tza l .05
[09:59] {Threei} here comes next financial wreck folks:
[09:59] {Threei} (FR) France President Hollande: Economic growth will not come from additional public spending
[09:59] {nemo} brilliant
[10:00] {Threei} this is the guy who lowered pension age to 60 a few days ago
[10:00] {nemo} yeah
[10:00] {cipher} tza stopped -.10
[10:00] {Threei} (US) Jun IBD/TIPP Economic Optimism: 46.7 v 47.3e
[10:01] {Threei} hmmm
[10:01] {Threei} why would market spike on that
[10:03] {Threei} did they just announce QE5?
[10:05] {Threei} and then canceled it?
[10:05] {ese} daaaaaaaa arna stopped even .41 +.01
[10:05] {dino} qe5 squared
[10:05] {Threei} lol
[10:05] {ese} lets see what happens with pnc
[10:05] {Threei} *(ES) SPANISH 10-YEAR GOV'T YIELD HITS FRESH EMU HIGH ABOVE 6.78%
[10:05] {Threei} guys, it's over
[10:05] {Threei} world ends this week
[10:06] {Threei} let's make some money to buy last drinks
[10:06] {dino} maybe germany will pick up our tab
[10:06] {Threei} hehe
[10:06] {Threei} Long Setup: FAZ .15 break
[10:07] {ese} daaaaaaaaaaaa
[10:07] {Threei} If holds .05
[10:07] {Threei} target .45
[10:07] {dino} pru s .99
[10:08] {Threei} 1:1
[10:09] {Threei} stop for balance .13
[10:10] {Threei} scalpers win
[10:10] {ese} caaaaaaa....monnnnnnnn...pnc
[10:10] {Threei} my feeling is though, we are in downtrend for the foreseeable future
[10:10] {ese} you might have liked this one dino
[10:10] {Threei} don't play bounces for now, other than maybe quick scalps
[10:11] {dino} pnc ese?
[10:11] {Threei} Spain bailout clearly failed to calm down markets, panic on horizon
[10:11] {ese} ya couldn't have told me that 20 min ago.......sheeesh
[10:11] {cipher} AAPL L .568.32
[10:11] {ese} ya
[10:11] {ese} pnc
[10:11] {ese} am L .48
[10:12] {ese} it's driving me nuts doesn't seem to want above .50 ......but if it does skys the limit
[10:12] {nemo} watch tna above .50
[10:13] {ese} will do
[10:13] {cipher} out aapl 569.47 +1.15
[10:13] {ese} nice C
[10:13] {cipher} ty
[10:13] {dino} gj
[10:13] {ese} 10 grand of that?
[10:13] {cipher} I wish
[10:14] {cipher} not up to your size yet ese
[10:14] {Beau} excellent c
[10:14] {Threei} Long Setup: TZA .30 break
[10:14] {Threei} If holds .20
[10:15] {cipher} in tza
[10:15] {Threei} go ahead market, panic
[10:16] {dino} feels like it
[10:16] {ese} no no no don't do that just yet am still L pnc....gonna give it one last shot here
[10:17] {nemo} tna bounce here
[10:17] {ese} am up a cent.....
[10:17] {Threei} ugh
[10:17] {Threei} no go
[10:18] {Threei} first stop
[10:18] {cipher} tza -.09
[10:18] {nemo} 1/2 out .52
[10:18] {nemo} sorry late on notice
[10:19] {nemo} today is a pain in the ass
[10:19] {nemo} stop under .30
[10:19] {ese} auch du miya......get on with it
[10:19] {nemo} stop under .40 spy
[10:19] {cipher} tza 2nd try .23
[10:19] {nemo} out
[10:20] {nemo} think I'd rather play with a porcupine than trade today
[10:20] {Threei} rinse TZA
[10:20] {Threei} dirty scoundrel
[10:20] {cipher} out 1/2 tza .37 +.14
[10:20] {Threei} 1:1 now
[10:20] {ese} pfhissssssssssssssssssss ...thats the sound of the air being let out of my sails
[10:20] {Threei} wtg cipher
[10:21] {ese} C...your hot today
[10:21] {nemo} wow, and I thought it was the sound of the wind between your ears
[10:21] {cipher} out tza .42 +.19
[10:21] {ese} thats exactly what it was.........ego taking a blow
[10:22] {dino} cov pru .87, +.12
[10:22] {dino} gj cipher
[10:22] {cipher} thx
[10:22] {ese} see even dino's taking a blow ....hat would normally be $1.12
[10:23] {dino} lol
[10:23] {Threei} lol
[10:23] {nemo} l upro .91
[10:23] {nemo} 1/2 .04
[10:24] {nemo} stop .74
[10:24] {dino} fosl sm l .43 ave
[10:26] {Threei} Long Setup: TZA .30 break
[10:26] {nemo} 1/4 more .14
[10:26] {Threei} trying for pullback entry
[10:26] {nemo} out under spy .40
[10:27] {dino} out fosl .84 ave +.41
[10:27] {Threei} wtg
[10:27] {dino} ty
[10:27] {Threei} dino is half back to his normal self
[10:27] {Threei} see ese, all is not lost
[10:29] {cipher} aapl l 568.47
[10:29] {nemo} dino is likely the most "normal" of us all
[10:30] {Threei} why would you insult him like that
[10:30] {Threei} half out TZA
[10:30] {Threei} .39
[10:30] {nemo} ok, the least "abnormal"
[10:30] {Threei} scalpers be free
[10:31] {nemo} out spy
[10:31] {nemo} well, upro
[10:31] {Threei} got the rythm right this time: it bounces, pauses, then drops sharply
[10:31] {Threei} 1/4 more out
[10:31] {dino} normal is a stretch for me
[10:31] {Threei} got stop back and then some
[10:31] {Threei} stop to .35 for the last piece
[10:32] {cipher} tna l .85
[10:33] {Threei} stop to .39
[10:34] {Threei} NAV court rules against it
[10:35] {cipher} out 1/2 tza .99
[10:37] {cipher} out rest tza flat
[10:37] {cipher} sorry tna
[10:38] {dino} nav, you sure?, not responding
[10:38] {nemo} long spxu .31
[10:38] {Threei} Navistar International Corp US Court said to strike down a diesel engine rule that was beneficial to Navistar
[10:38] {scottie} out TZA +.30 ty
[10:38] {Threei} out last piece
[10:39] {Threei} .63
[10:39] {Threei} welcome scottie
[10:39] {Threei} nailed this stage of panic perfectly
[10:40] {Threei} and determined whole scenario for today correctly... which is pleasant
[10:40] {cipher} l ibm .56
[10:41] {dino} nav sm s .60 bstop .76
[10:41] {nemo} out spxu
[10:41] {cipher} out 1/2 .79
[10:41] {cipher} out in full .90
[10:42] {dino} stop nav
[10:42] {ese} L pnc avg .48
[10:43] {cipher} l aapl 569.47
[10:44] {cipher} l tna .03
[10:46] {cipher} out 1/2 tna .21
[10:46] {dino} fosl sm l ave .55
[10:47] {cipher} out 1/2 aapl 570.60 +1.13
[10:47] {ese} something or someone is holding this thing up at .50
[10:47] {cipher} out 1/4 more tna .34
[10:48] {Threei} visual http://goo.gl/fsxsj
[10:49] {cipher} out rest tna .50
[10:49] {cipher} out aaple +1.52
[10:49] {Threei} wtg
[10:50] {dino} out fosl .12, +.57
[10:50] {cipher} thx for ideas
[10:50] {cipher} cya tomorrow
[10:50] {dino} gj cipher
[10:51] {Threei} take care cipher, great job
[10:51] {ese} am outta here catch you all tomorrow.....will montor pnc rest of the day
[10:52] {Threei} take care ese
[10:52] {thomcbell} long setup FIO 18.09 break if holding 17.98 half lot
[10:57] {thomcbell} fio 1:1ish
[10:57] {thomcbell} lol
[11:00] {dino} sure now nav drops
[11:01] {Threei} it finally read its own news
[11:02] {thomcbell} fio 1:1
[11:02] {thomcbell} sold 1/3
[11:02] {Threei} nice one
[11:05] {thomcbell} offering 18.30 for 1/3
[11:05] {scottie} FIO +.20 thanks tbell
[11:05] {Threei} (EU) ECB's Constancio: no need for a full scale fiscal union before setting up a banking union- Expect Spain residential real estate as still 15% over priced and will decline further. - Not expecting a Greece exit.
[11:06] {Threei} hmmm... they are all so good at this stand up comedy thing... let me try my hadn at it too:
[11:06] {Threei} Not expecting a Greece exit but fully expecting Greece to exit unexpectedly
[11:06] {Threei} how am I doing so far?
[11:09] {scottie} good enough to rule the world
[11:09] {Threei} ty
[11:10] {thomcbell} cleaning up fio here
[11:10] {dino} gj
[11:13] {Threei} lol:
[11:13] {Threei} I am incredibly bullish, this is the end of the world as we know it, and the world as we know it sucks
[11:14] {Threei} makes sense actually, doesn't it
[11:18] {scottie} FAZ .80 ?
[11:19] {Threei} 51/49
[11:20] {scottie} ok
[11:22] {thomcbell} wow
[11:23] {Threei} no news
[11:23] {nemo} spy bottomed at WPP
[11:24] {Threei} but Italy just said "I am next":
[11:24] {Threei} (IT) Italy Deputy Fin Min Grilli: Italy can contain the effects of the crisis
[11:24] {thomcbell} lol
[11:26] {thomcbell} fio shaping up here
[11:27] {thomcbell} not playing but looks decent thru 18.31 with a 18.14 stop
[11:28] {thomcbell} slw a real leader in precious metal space today
[11:28] {thomcbell} lumbering ones not so much nem and abx
[11:32] {Threei} PIMCO ?@PIMCO
[11:32] {Threei} GROSS: German Bunds join the maelstrom. Very few scenarios in which they do well. Only German exit favors Bunds.
[11:34] {dino} qcor spike
[11:35] {dino} qcor sm s .00
[11:36] {dino} stopped -.33
[11:39] {dino} qcor sm s .25
[11:41] {dino} cov qcor .90, +.35
[11:41] {Threei} trading jabs :)
[11:42] {dino} yeah
[12:00] {dino} ugh qcor. phone call distractcted me'
[12:00] {dino} taking break
[12:13] {nemo} lokk for upro and tna here
[12:17] {Threei} lost in the shuffle is Cyprus asking for a bailout yesterday
[12:17] {Threei} only lazy doesn't it seems
[12:18] {nemo} long tna .81
[12:18] {nemo} stop .64
[12:21] {nemo} 1/2 .96
[12:21] {Threei} nice
[12:22] {nemo} confluence levels
[12:22] {nemo} stop .79 lunchtime could get algo'd
[12:25] {nemo} offering .15
[12:26] {nemo} stop to .84
[12:33] {nemo} arguably 46.00 tna is one of your favorite entries vad
[12:34] {Threei} something doesn't feel right
[12:34] {Threei} can't quite put a finger on it
[12:36] {nemo} c'mon baby
[12:38] {nemo} 1/4 more ka-frickin'-ching
[12:38] {nemo} too much work at lunchtime though
[12:39] {nemo} stop to .00
[12:45] {nemo} interesting, should get stopped out, but spy dropping faster than iwm
[12:45] {nemo} arguably, it's a long again here
[12:46] {nemo} tna that is
[12:48] {nemo} spy at swing low
[12:48] {nemo} 132.00 is weekly R1
[12:49] {nemo} 132.01 actually
[12:53] {Threei} feels to me like such a narrow range, there is just no real way to tell which way it resolves
[12:54] {nemo} see if spy holds 132
[12:57] {nemo} upro long if spy breaks .05
[13:00] {dino} gut says resolves downward
[13:00] {nemo} i'm just looking at the charts
[13:01] {nemo} gs weak, that's not good
[13:01] {Threei} my gut says downward too, and charts are mute at this point
[13:01] {nemo} for me, spy just bounced off weekly R1 and iwm looks bull flag
[13:02] {nemo} maybe not too far, but...
[13:04] {Threei} so, you think we have a solid reasons to be all emotional and flared up?
[13:04] {Threei} Police opens fire as Polish football fans attack Russian fans marching through Warsaw; at least 3 injured
[13:04] {nemo} I liked the Buddhists against the Muslims in Myanamar yesterday
[13:11] {nemo} 1/4 out .06
[13:12] {nemo} 1/4 more .26
[13:12] {dino} gut wrong so far
[13:12] {nemo} now you got cup and handles on spy and IWM
[13:13] {nemo} nobody believed me?
[13:13] {nemo} wtf
[13:13] {Threei} no news
[13:13] {Threei} yet
[13:13] {dino} :/
[13:13] {nemo} took 1/4 .46-.41
[13:13] {nemo} frickin slippage
[13:15] {nemo} stop is .28 spy
[13:20] {nemo} next target is .57 on spy, stop still .28
[13:24] {scottie} cnc reverse c&h?
[13:25] {nemo} next pop under .28 I'm out
[13:25] {Threei} kind of
[13:26] {nemo} out .33
[13:26] {nemo} on upro
[13:32] {nemo} fslr
[13:32] {nemo} wtf
[13:32] {Threei} news
[13:32] {Threei} First Solar Inc. Hearing CLSA makes cautious comments (timing uncertain)- CLSA notes today's announcement of a temporary ramp up of German production is a near term positive, but FSLR still faces margin pressures on Chinese competition.
[13:34] {Threei} ZNGA...
[13:34] {Threei} these social network stokcs are unmitigated disaster
[14:07] {thomcbell} wow - imagine how abx would act if gold was down on the day
[14:08] {Threei} no kidding
[14:08] {nemo} http://fwd4.me/12yL
[14:15] {nemo} things starting to look short
[14:26] {thomcbell} possible long setup there on abx vad thru 38.25?
[14:26] {Threei} I am not a fun of this
[14:26] {Threei} fan
[14:27] {thomcbell} ok - i bought it half lot - with 38.14 stop
[14:27] {thomcbell} target is 38.50
[14:30] {thomcbell} abx 1:1
[14:30] {thomcbell} 1/3 out
[14:35] {thomcbell} out on balance abx at 38.26
[14:37] {dino} bpt spike
[14:37] {thomcbell} this pfpt chart is shaping up
[14:38] {thomcbell} duh abx
[14:57] {Threei} uh oh
[14:57] {Threei} (IT) Italy PM Monti: Italy does not need a bailout now, will not need a bailout in the future
[14:57] {Threei} took what, about 6 months in Spain case from similar statement to bailout? I bet will be faster in Utaly's case
[15:02] {dino} they all say the same thing, then a few weeks later they ask for $
[15:03] {dino} i give italy until july 4th, then they ask for $
[15:03] {Threei} this fast you think?
[15:04] {Threei} I thought they'd be able to hold till Kabor Day
[15:04] {Threei} Labor
[15:04] {Threei} depends on bond yields of course
[15:05] {scottie} jcp .20 ?
[15:06] {Threei} not my cup of tea
[15:11] {Threei} looking for selling toresume
[15:13] {Threei} Long Setup: FAZ .50 break
[15:13] {Threei} If holds .40
[15:20] {scottie} sold half at .60
[15:28] {Threei} scalpers win :)
[15:28] {scottie} out at .54
[15:29] {dino} bi-polar markets. down big/up big
[15:29] {scottie} +.09 on first half and +.03 on second, ty Vad
[15:30] {Threei} :)
[15:30] {dino} gj scottie
[15:30] {scottie} thanks dino
[15:58] {dptl} gn all
[15:59] {scottie} gn, see you tomorrow
[15:59] {Threei} thank you all
[15:59] {Threei} great trading day
[15:59] {Threei} have a good evening, see you tonmorrow
[15:59] {scottie} I'm 6 on 7, thanks Vad
[16:00] {dino} great job scottie
[16:00] {dino} gn all
[16:00] {scottie} ty
[16:00] {Threei} wtg :)
