Monday, September 17, 2012

Sep 17 2012

Catch of the day, short at upper envelop of the descending trendline, aggressive entry just prior to major breakdown. Chart speaks for itself.

Caught nice bounce on USO after this drop too, but you'll have to look for it in the log after market close.

(Course on chart pattern recognition is available now:  

Session Time: Mon Sep 17 00:00:00 2012
01[08:55] {Threei}  *(US) SEPT EMPIRE MANUFACTURING:-10.4 V -2.00E
[08:55] {goryl} gm
01[08:56] {Threei}  goryl :)
[09:09] {jackharry} good morning
01[09:09] {Threei}  jack :)
01[09:15] {Threei}  72% Put Freedom of Speech Ahead of Not Offending Other Cultures
[09:16] {ese} gm
01[09:16] {Threei}  ese :)
[09:19] {dino} gm
01[09:20] {Threei}  dino :)
[09:20] {scottie} gm
01[09:20] {Threei}  scottie :)
[09:21] {RonS} gm...don't tell nemo but i thought his writing last week was exceptional
[09:21] {Will49} Hi everyone
01[09:21] {Threei}  ron, will :)
01[09:22] {Threei}  I agree
[09:22] {Beau} good morning all
01[09:22] {Threei}  ever since he changed it from merely listing pivot levels to more general market overview, it became real help
01[09:22] {Threei}  beau :)
01[09:23] {Threei}  and becomes better by week
[09:26] {robbers} Yep.
[09:26] {dolores} hello GM
01[09:27] {Threei}  robbers, dolores :)
01[09:27] {Threei}  hope e-mails made their way to your boxes
01[09:27] {Threei}  we made another tweak this weekend
[09:28] {jackharry} yes, got ok this week
01[09:28] {Threei}  if some still don't go through, I am afrid this is something out of our control
[09:28] {dolores} I eceived e.mail ok
[09:28] {dolores} received
[09:28] {scottie} ok here
[09:28] {Will49} not me
01[09:29] {Threei}  ok... will seems to be last holdout, lol
01[09:30] {Threei} Long Setup:  FCX  .20 break hl
01[09:31] {Threei}  1:1
01[09:32] {Threei} Short Setup: SLW  .30 break
01[09:33] {Threei}  If holds  .35 
01[09:33] {Threei}  half out
01[09:33] {Threei}  .20
[09:33] {dolores} wow nice call too fast for me
01[09:33] {Threei}  stop .31
01[09:33] {Threei}  hah... it gave second chance
01[09:34] {Threei}  went to .32 after the call
[09:34] {dolores} did not see that
[09:34] {scottie} slw +.10 ty Vad
01[09:34] {Threei}  yw
[09:35] {dolores} whats with CLf today? down again
[09:35] {dolores} 6t %
01[09:36] {Threei}  JPM donwgraded
[09:36] {dolores} thxs
01[09:37] {Threei}  (PK) Protestors are said to be attempting to storm US consulate in Lahore, Pakistan
01[09:38] {Threei} Long Setup:  LVS  .25
01[09:38] {Threei}  If holds  .15 
[09:39] {dolores} in LVS
01[09:40] {Threei}  no go
[09:40] {ese} L xom .25 
01[09:41] {Threei} Long Setup:  FCX  .45 break
01[09:41] {Threei}  If holds  .35 
01[09:43] {Threei} Short Setup: SLW  39 break
01[09:43] {Threei} Short Setup: FCX  .35 break
[09:44] {ese} fcx barely hangin in there
01[09:44] {Threei}  half out SLW
01[09:45] {Threei}  FCX 1:1 if you got it
01[09:45] {Threei}  1/4 more out SLW
01[09:45] {Threei}  FCX 1:2
[09:46] {ese} didn't but nice call vad
[09:46] {nemo} fcx chart looks just like iwm
01[09:47] {Threei} Long Setup:  LVS  .75 break hl
01[09:47] {Threei}  If holds  .65 
01[09:47] {Threei}  Invalidated  
[09:47] {ese} nope
[09:48] {dino} 1st gaps, 2831, 1459
[09:48] {dino} , then 2791
[09:50] {dino} sh l .62 stop lod
01[09:51] {Threei}  last piece SLW stop to .76
[09:52] {nemo} lvs again
01[09:52] {Threei}  out 1:4
[09:53] {dino} jazz spike
[09:57] {dino} tighten sh to .59, things stuck
[09:57] {ese} L xom avg .26
01[09:58] {Threei} Long Setup:  GLD  .70 break
01[09:58] {Threei}  If holds  .60 
01[10:03] {Threei}  no worky
[10:04] {RonS} BREAKING: Spanish 10-year yield rises to 6% as bonds slide for third day.
01[10:04] {Threei}  what the deuce.... hasn't world been saved last week?
[10:05] {nemo} wow...flat market
01[10:09] {Threei} Long Setup:  LVS  .30 break
01[10:09] {Threei}  If holds  .20 
01[10:09] {Threei}  what was that on GLD
01[10:10] {Threei}  change LVS to .20 break
01[10:12] {Threei}  half out if got it
01[10:12] {Threei}  was a bit abrupt
[10:15] {RonS} caught +.16 lvs  thanks 3i
01[10:16] {Threei}  wtg
01[10:16] {Threei}  wasn't easiest execution wise
01[10:21] {Threei} Long Setup:  LVS  .25 break
01[10:21] {Threei}  If holds  .20 
01[10:23] {Threei}  target .45 - .50
01[10:25] {Threei}  half out
[10:27] {dino} sphb l .99
[10:28] {ese} it!
[10:28] {scottie} +.18 thanks Vad
01[10:28] {Threei}  target hit, out
[10:28] {ese} almost stopped out there by a couple of cents
01[10:28] {Threei}  this one was very available, no excuses
[10:29] {dolores} 15 cents thxs
01[10:29] {Threei}  :)
[10:30] {Will49} tks Vad 1:2
01[10:31] {Threei}  welcome guys
[10:32] {robbers} Nice trade.
01[10:41] {Threei}  US) Fed's Lacker (hawk, lone FOMC dissenting voter): QE3 will have lesser impact on job creation and a greater impact on inflation; the economy is largely beyond the influence of more Fed easing- Larger Fed balance sheet makes the policy exit riskier.
01[10:43] {Threei}  Swing State Daily Tracking: #Romney 47%, #Obama 45%
01[10:48] {Threei}  JAZZ Hearing strength attributed to positive markman ruling in case over Xyrem patents
01[10:51] {Threei}  market is interestingly nervous
01[10:51] {Threei}  jwrky action
[10:53] {dino} dji stick in 10 pt eange
01[10:54] {Threei}  considering that Fed has removed itself from any kind of new action for the foreseeavle future, it doesn't bode well for bulls
01[10:54] {Threei}  focus is back on Europe
01[10:55] {Threei}  and it looks as fractured as before ECB grandstanding
01[10:55] {Threei}  if not more
[10:55] {dino} well rates tell the tale
01[10:55] {Threei}  right
[10:56] {nemo} bonds sneakily strong
[10:59] {nemo} nke
[10:59] {nemo} things ar sooooooooo sloooooooowwwwww
[11:00] {Will49} is market just going to wait for more EU news?
[11:01] {nemo}'s a Jewish Holiday and Options Expiration week after a very strong run
[11:01] {Will49} I see
[11:01] {nemo} The likely news to move the market now is out of the Middle East
[11:01] {nemo} imo
[11:01] {Will49} tks
[11:02] {ese} gotta go  ...up .15 tom....stop loss in cya tomorrow
[11:02] {ese} xom
01[11:05] {Threei}  take care ese
[11:10] {nemo} bonds still climbing as the market does nothing
[11:11] {dino} vmc sm l .51
[11:13] {nemo} don't give it much room  44.71 support
[11:15] {dino} thk
[11:15] {RonS} ?
01[11:15] {Threei} Short Setup: CAT  .40 break hl
[11:16] {dino} stop -.24
01[11:16] {Threei}  1:1
[11:19] {dino} skul sm l .20
[11:24] {dino} this has to be the slowest day in sept
[11:25] {dolores} CAT short again?break .40?
[11:25] {RonS} typical for this holiday...
01[11:26] {Threei}  I doubt it dolores
[11:26] {dolores} ok
[11:28] {dino} vmc rinsed
[11:32] {nemo} mcp steady climb
[11:32] {nemo} clf
[11:33] {dino} arii drop
01[11:39] {Threei} Long Setup:  MOS  .80 break
01[11:42] {Threei}  change to .70 break
01[11:42] {Threei}  If holds  .60 
01[11:42] {Threei}  target .95
01[11:46] {Threei}  1:1
[11:47] {dolores} .16 thanks
[11:47] {scottie} +.19 thanks Vad
01[11:47] {Threei}  :)
[11:50] {Will49} .18 tks Vad
01[11:50] {Threei}  target hit, out
01[12:16] {Threei}  a few too soon, eh
[12:21] {Will49} better a little soon than a little late for me :)
[12:22] {Will49} at this stage
[12:22] {Will49} better for my state of mind
[12:24] {scottie} I'M with you on that one Will
[12:25] {Will49} Yeah Scottie, I'm surprised at myself....getting bummed out if my P/L starts to slip
[12:26] {Will49} never would have guessed
[12:26] {scottie} lol
[12:26] {Will49} don't know whether that's good or bad
[12:27] {Will49} maybe it' my Scottish heritage:D
[12:27] {scottie} I guess we can't all be Mr Spock
[12:27] {Will49} true dat
01[12:28] {Threei}  hide P/L column
01[12:28] {Threei}  so you don't look at it while in trade
[12:28] {Will49} now..that's a great idea
01[12:28] {Threei}  trade management decision must be derived from stock action
01[12:30] {Threei} Long Setup:  POT  43 break
01[12:49] {Threei}  Invalidated  
01[12:49] {Threei}  (obviously)
[12:50] {scottie} gpor 33 long ?
01[12:51] {Threei}  not sure...
[12:51] {scottie} ok thanks
01[12:52] {Threei}  (GR) Greece Govt Official: Talks with the Troika will continue each day until conclusions are reached- Reminder: earlier today Greece Fin Min Stournaras comments that so far agreed with EU/IMF/ECB Troika on �7.5B out of �13.5B of new measures
01[12:53] {Threei}  I have this feeling that 10 years later, when there is no EU, when AAPL makes iPhone 89 and MSFT - Win 243, we still are going to see Greece debt discussions
[12:54] {RonS} lol
01[12:54] {Threei}  troika will just enjoy permanent vacation
[12:55] {Will49} jawboning and BS ad infinitum
01[12:55] {Threei}  and will pretend they don't even notice there is issue to resolve
[12:55] {Will49} sad isn't it?
01[12:55] {Threei}  not for troika members
01[12:56] {Threei}  I mean Greece is very nice in all seasons
[12:56] {Will49} Karma still in force, just may take a while
01[12:58] {Threei}  (EU) ECB's Nowotny: Surprised by recent comments by Slovenia; not expecting Slovenia to require an aid program
01[12:59] {Threei}  what did Slovenia say?
01[13:01] {Threei}  Slovenia PM commented that austerity measures needed through 2014 period; Govt spending needed to boost banking sector and on 9/3 Slovenia Fin Min: Bank debt consolidation is on the agenda, ending credit crunch is key. Planning a trip to the US for US bond offering.
[13:04] {RonS} he better bring a map...
01[13:04] {Threei}  rofl
[13:04] {RonS} slo who...slo what?
01[13:04] {Threei}  I imagine this...
01[13:05] {Threei}  sovenia? where is it?
01[13:05] {Threei}  sLovenie
01[13:05] {Threei}  whatever... where is it?
01[13:05] {Threei}  here, see, I circled it on the map
[13:05] {RonS} rotflol
01[13:05] {Threei}  wait... it doesn't look familiar... where is Mexico?
01[13:05] {Threei}  Mexico?? It's Europe!!
01[13:06] {Threei}  Ummm... OK... so, where is Mexico?
01[13:06] {Threei}  what do you mean different continent? there are more continents??
[13:06] {RonS} ur killing me...tears here
[13:06] {Will49} good one Vad
01[13:07] {Threei}  well, I still remember the salesman from NY store who, when I asked how much the delivery to Canada would cost, told me "sorry, no shipping overseas"
[13:07] {Will49} lol
[13:24] {nemo} set alerts for iwm .75, might get to .72
[13:27] {dino} yoku drop
[13:31] {scottie} cie s. .90 ?
01[13:32] {Threei}  Gross: Central banks are where bad bonds go to die
01[13:32] {Threei}  hard to tell
[13:33] {scottie} ok
01[13:33] {Threei}  trades by apppintment
[13:40] {nemo} intu
[13:41] {nemo} lyb
01[13:42] {Threei} Short Setup: GLD  .30 break hl
01[13:42] {Threei}  If holds  .40 
[13:42] {nemo} nav
[13:44] {nemo} HCA
01[13:47] {Threei}  changing to aggressive
01[13:47] {Threei}  .35 break
01[13:47] {Threei}  stop .43
[13:47] {dino} crr sm l .60 trig
01[13:48] {Threei}  half out
01[13:48] {Threei}  aggressive entries, I luv you wholeheartedly
01[13:49] {Threei}  stop to .36
01[13:50] {Threei}  1/4 more out .17
01[13:51] {Threei}  don't tell me no one took it
01[13:51] {Threei}  I'll remove myself to a monastery
01[13:51] {Threei}  very remote one
01[13:51] {Threei}  look at this cascade
[13:52] {scottie} Was watching something else, didn't see your call :(
[13:52] {nemo} carful around here iwm
[13:52] {jackharry} out at .18, thanks
01[13:52] {Threei}  monastery... Tibet... here I come
[13:52] {Will49} just glanced away for a second...then too late
01[13:52] {Threei}  awww... jack... no monastery
01[13:52] {Threei}  out in full .03
01[13:53] {Threei}  +.33
01[13:53] {Threei}  .31
[13:53] {Will49} tears
[13:53] {dino} gj
[13:53] {jackharry} sorry, i'll make sure i miss the next one
01[13:53] {Threei}  lol
01[13:53] {Threei}  and it was all-female one...
01[13:54] {Threei}  wow, what a drop
01[13:59] {Threei}
[14:06] {dolores} ok guys have to go, see you tomorrow
[14:06] {dolores} thxs VAD
01[14:06] {Threei}  take care dolores, hope you did well today
01[14:06] {Threei}  decent day
01[14:06] {Threei}  no wonder, looking at the SPY
01[14:07] {Threei}  even though we adjusted tio the climb of late, we still do better in downward market
01[14:08] {Threei}  $4 drop in crude futures being attributed to fat finger trade ahead of expiry- Crude fell from $98.70 to $94.83 in a matter of five minutes, which also impacted gold futures and the USD. - Note Oct WTI futures expire on 9/20. - Other comments in the rumor mill are raising concerns about a "crude flash crash" and also reiterating the rumors of an SPR release that have been going around for the last month.
01[14:08] {Threei}  huh
01[14:08] {Threei}  flash crash in our favor?
01[14:12] {Threei}  wow
01[14:16] {Threei} Long Setup:  USO  .55 break hl
01[14:16] {Threei}  If holds  .45 
01[14:17] {Threei}  target 1:3
01[14:18] {Threei}  1:1
01[14:20] {Threei}  1:2
01[14:22] {Threei}  am I alone here?
[14:22] {dino} out uso +.19 ty vad
01[14:22] {Threei}  :)
[14:22] {Will49} .14 tks Vad
[14:22] {jackharry} no, sorry i managed to get this one too, i'll try harder next time
01[14:22] {Threei}  welcome guys
[14:23] {Will49} come on Jack...get with the program
01[14:23] {Threei}  oh, tnhat's OK jack, monastery idea is dead for the day...
01[14:23] {Threei}  maybe tomorrow
01[14:23] {Threei}  they'll have more time to get broadband internet in that cave
[14:24] {scottie} great +.20 thanks Vad
01[14:24] {Threei}  :)
[14:25] {Will49} was that first trade we've seen where Dino went to school on Vad?
[14:25] {dino} ;)
[14:27] {Will49} lookit er go, eh?
[14:27] {Will49} that's Canadian lingo
[14:43] {nemo} 146.25 in the cards if we don't bounce here
[14:48] {RonS} Rumor that an Algo detected chatter about a spr  release
[14:48] {nemo} NKE interesting spot
[14:49] {nemo} It's defecate or get off the commode time
01[14:50] {Threei}  commode? hmmm
01[14:50] {Threei}  note to myself: whatever you fo, never ever share furnished room with nemo
[14:51] {nemo} huh?
[14:51] {dino} i guess in obamination terms, election is as stetegic as you get for oil release
01[14:51] {Threei}  lol
[14:54] {robbers} Strategic pandering.
[14:55] {dino} lol, guess i butchered the spelling on that
[14:56] {nemo} suck
[14:56] {dino} today, yeah
[14:56] {RonS} ...was figuring you were speaking ebonics...
[14:56] {Will49} you got obamination correct
[14:56] {dino} lol
[14:57] {dino} heard a funny one the other day, Obummer
[14:57] {Will49} picturesque
[14:58] {nemo} nke two wa here
[14:59] {Will49} had an eskimo girlfriend once named nke two wa
[14:59] {nemo} not going there
[14:59] {dino} lol
[14:59] {Will49} niether was I
[15:00] {RonS} rotflol
01[15:00] {Threei}  lol
[15:00] {robbers} lol.
01[15:02] {Threei}  CME responds to inquiries regarding Crude price; not aware of any technical difficulties that could have resulted in the action - financial press- Follow up; CNBC notes it was hearing that technical levels could have resulted in the sell off - Follow up: NYMEX comments that it is unaware of any technical difficulties that could account for move - Follow up: White House spokesperson Carney noted there has been no change to oil reserves
01[15:03] {Threei}  What, it wasn't HFT fault? Hard to believe... it just has to be
[15:24] {thomcbell} hi everyone - been taking a few days working on an outside project 
01[15:25] {Threei}  hi tbell
01[15:25] {Threei}  missed great day
[15:26] {thomcbell} i bet - i see some nice setups in our favs 
[15:26] {Will49} is there anything outside of trading?
[15:27] {thomcbell} im a co-producer on a small independent film - we just finished day 3 of 10 
[15:27] {Will49} wow...we know a celebrity
[15:28] {thomcbell} not yet - :) n
[15:28] {robbers} comedy, drama, doc?
[15:30] {thomcbell} drama - thriller - think Rosemary Baby with Alien impregnation instead of Devil
[15:30] {dino} sounds familiar
[15:30] {Will49} right down your aley Vad
[15:30] {Will49} alley
[15:31] {nemo} spy coming into WPP
[15:31] {robbers} Cool, Thom, good luck.
[15:33] {dino} gl tbell
[15:35] {thomcbell} thanks all
[15:43] {Will49} as Yogi Berra once said, "it's getting late real early today"
[15:45] {nemo} vwap run
01[15:50] {Threei}  OK guys, thank you all
01[15:50] {Threei}  have a great evening, see you tomorrow
[15:50] {Will49} good day, Vad
[15:51] {scottie} good night see you tomorrow