Wednesday, November 28, 2012

Nov 28 2012

Catch of the day is two simultaneous trades today

One more Catch of the Day for today, somewhat unusual one - Don't Kid The Kidder setup. You know how breakouts during lunchtime often fail, resulting in shakeouts? Well, this one we used to buy from those who were "shaken out." Read the comments on the chart.

Session Time: Wed Nov 28 00:00:00 2012
[08:28] {dino} gm
01[08:44] {Threei}  morning dino, welcome back
[08:46] {dino} ty
01[08:58] {Threei}  KCG...
[08:58] {nemo} yeah, buyout from GETCo
[08:58] {nemo} GMCR
01[08:59] {Threei}  just a bid
01[08:59] {Threei}  not buyout yet
[08:59] {nemo} yeah
01[08:59] {Threei}  and bid is 3.50
[09:02] {cipher} gm
[09:03] {nemo} you been playing gmcr pre-market there cipher
[09:03] {nemo} ?
01[09:03] {Threei}  cipher :)
[09:03] {nemo} oh...there was the morning stophunt on spy
[09:05] {cipher} no pre market today
[09:05] {cipher} you?
[09:06] {nemo} watching the levels...35.25 biggie so far 36.60 the high, 34.35 the low
[09:08] {nemo} Home builders strong with numbers coming at 10
[09:08] {nemo} GS sneaking up the relative strength list as are the Qs
[09:09] {scottie} good morning
[09:09] {nemo} interesting: BATS to borrow 300M for dividend payout.  Is that a healthy company?
01[09:12] {Threei}  scottie :)
[09:16] {ese} morning
01[09:16] {Threei}  ese :)
[09:16] {ese} how is everyone............
[09:17] {nemo} I'm suddenly falling ill
[09:17] {ese} me too
01[09:17] {Threei}  alive ese... you?
[09:18] {nemo}'s his ethereal self typing on the keyboard....sheesh
[09:18] {ese} hmmmmmmm
[09:19] {thomcbell} is there a chip stock that also serves alternative energy industry?
01[09:19] {Threei}  AMD?
[09:20] {thomcbell} no but i believe it is 3 letter symbol
[09:20] {ese} ocz........solid state drives?
[09:20] {nemo} ocz makes memory too
[09:20] {Will49} Good Morning
01[09:20] {Threei}  will :)
[09:21] {thomcbell} Doing chart work - very interested in 25.25 level on FB - uptrend line from $19 - 3 day trailing pivot - and 50 % retrace from the moonshot beginning around the $24 area 
01[09:21] {Threei}  US) President Obama to speak at 11:35 ET **Reminder: President is meeting with key business leaders today
[09:21] {ese} am looking to get back into that one that they've ousted the stupid ceo thats got them into the position there in......solid product
01[09:22] {Threei}  careful ese, company is investigated by SEC
[09:22] {ese} ya i've been following it........
[09:22] {ese} was seriously mismanaged by the former ceo
[09:24] {ese} they ousted him just before the last earnings release..........the new ceo psponed that release until a full investigation of the books was done......nasdaq then issued a letter because they've delayed that filing
[09:24] {Beau} good morning
01[09:24] {Threei}  beau :)
[09:24] {ese} B
01[09:25] {Threei}  yesterday was a remarkable day btw
[09:25] {ese} why?
01[09:25] {Threei}  Obama signed act shielding US airlines from EU carbon tax - that marks second time I agree with what Obama does
01[09:26] {Threei}  that makes quite a day for me
[09:26] {ese} cool
01[09:26] {Threei}  FCX
01[09:26] {Threei}  .95 support to break for short
[09:28] {nemo} nice spread fcx
01[09:29] {Threei}  was better at the moment
01[09:29] {Threei}  but setup is gone
01[09:29] {Threei}  unless you risked premarket trade
[09:29] {nemo} yes...pre-market liquidity, even early market liquidity is iffy of late
[09:29] {dino} tfm gap around 49.35
[09:30] {dino} bang
01[09:31] {Threei} Short Setup: SLW  .80 break
01[09:31] {Threei}  If holds  .90 
01[09:32] {Threei}  heh
01[09:32] {Threei}  good luck gwetting that fill
[09:32] {robbers} ooops.
01[09:32] {Threei}  look at that
01[09:32] {Threei} Short Setup: GLD  .60 break hl
01[09:33] {Threei}  ^%$@*&( SLW
[09:33] {nemo} spy coming in to gap fill
01[09:35] {Threei}  no go
01[09:37] {Threei} Short Setup: FCX  .80 break
01[09:38] {Threei}  If holds  .85 
01[09:40] {Threei}  target .60
01[09:40] {Threei}  half out
01[09:40] {Threei}  stop to .81
[09:42] {robbers} out fcx, thanks.
01[09:42] {Threei}  :0
[09:42] {dino} tfm hl l .10
01[09:43] {Threei}  US) Preview: Oct New Home Sales due out at 10:00ET (15:00 GMT)**Consensus expectation: 390Ke v 389K prior
01[09:44] {Threei} Short Setup: RIG  .60 break
01[09:44] {Threei}  If holds  .70 
[09:46] {dino} out tfm .80, +.70
01[09:46] {Threei}  wtg
[09:46] {dino} ty
01[09:47] {Threei}  FCX target hit, out
[09:47] {dino} 07 red
01[09:47] {Threei}  Invalidated  RIG 
[09:48] {nemo} gmcr determined to go for the pre market high 
[09:49] {scottie} I was in RIG from .59 !
01[09:49] {Threei}  ?
01[09:49] {Threei}  I didn't see .60 breaking
[09:50] {scottie} 9:46 candle
01[09:50] {Threei}  print yes, but bid never went away
[09:50] {scottie} printed at .59 here
01[09:50] {Threei}  do you watch level 2?
[09:50] {scottie} yes
[09:50] {dino} feels like whoosh down coming
[09:50] {scottie} level 2 and T&S
01[09:51] {Threei}  there was a print below the bid
01[09:51] {Threei}  .60 bid was always there
[09:51] {scottie} didn't see that :(
[09:51] {nemo} housing numbers at 10
[09:52] {nemo} you must have sold through
01[09:59] {Threei}  two news conferences from congress dunces are coming
01[10:00] {Threei}  yikes home sales
01[10:00] {Threei}  (US) OCT NEW HOME SALES: 368K V 390KE- Prior revised lower from 389K to 369K
01[10:01] {Threei}  Median price: $237.7K v $242.4K prior (revised from $242.4K) - Months supply: 4.8 v 4.7 prior (revised from 4.5)
01[10:02] {Threei}  ok, call my cynic... but doesn't it strike you as highly suspicious that all those pre-election rising indicators suddenly turned down rigth after? and revisions are all down?
[10:02] {dino} indeed
[10:03] {thomcbell} no problems over at FB 
01[10:04] {Threei} Long Setup:  JPM  40 break
01[10:04] {Threei}  If holds  .90 
01[10:05] {Threei}  (FR) Fitch Analyst: France's 3%/GDP deficit target looks challenging, any underperformance of fiscal plans could lead to a ratings downgrade for France
01[10:05] {Threei}  Invalidated  JPM 
01[10:10] {Threei} Long Setup:  FB  .25 break
01[10:10] {Threei}  If holds  .15 
01[10:10] {Threei}  target 1:3
01[10:10] {Threei}  1:1 was easy
01[10:13] {Threei}  iksplozhion is coming
01[10:13] {Threei}  I am sure I spell it right
[10:13] {thomcbell} for FB?
01[10:13] {Threei}  yes
01[10:14] {Threei}  JPM is valid again
01[10:14] {Threei}  1:2 would be a new high for FB, just 1 cent higher current one... which should make 1:3 easy
01[10:16] {Threei}  oh boy
01[10:16] {Threei}  (GR) EU's Barroso: EU will do what is necessary to keep Greece in the eurozone- European Commission to propose giving eurozone a "fiscal capacity"
01[10:16] {Threei}  first line is a givcen.,... bit second is mind-boggling
01[10:17] {Threei}  really?
01[10:18] {Threei}  come on already FB, enough scares
01[10:19] {Threei}  let's trail JPM to .94
[10:19] {dino} ctrx drop
[10:21] {dino} cbsh hl l .25
01[10:21] {Threei}  FB stop to .29
01[10:21] {Threei}  1:2 baby
[10:21] {dino} gj
01[10:21] {Threei}  ty
[10:22] {thomcbell} 46.75 is the gap fill 
[10:22] {robbers} out FB, thanks.
01[10:22] {Threei}  JPM 1:1
01[10:22] {Threei}  yw
[10:22] {nemo} news?
01[10:22] {Threei}  1:2 close enough, out
01[10:23] {Threei}  (US) US House Speaker Boehner: Optimistic deal can be reached on budget; willing to put revenues on table if accompanied by spending cuts
01[10:24] {Threei}  my personal feel is, taxes will be raised, no spending cuts will take place
[10:24] {Will49} tks Vad 1:2 FB
01[10:24] {Threei}  :)
01[10:24] {Threei}  wow, JPM had more in it
01[10:25] {Threei}  I questionwed even 1:2 potential
[10:26] {scottie} jpm +.18 tks Vad
01[10:26] {Threei}  yw
01[10:27] {Threei}  no one took JPM?
[10:27] {Will49} still only capable of one trade at a time
[10:27] {Will49} simple mind
[10:28] {robbers} Same here, Will.
01[10:28] {Threei}  as I see it, republicans have no negotiating strength
01[10:29] {Threei}  they say no, democrats simply let all tax cuts expire and come back the next day with tax cut for low income
01[10:29] {Threei}  reps can't block that, it would be total suicide
01[10:30] {Threei}  thus dems get what they want and reps look fibble-minded losers overplayed their hand
01[10:30] {Threei}  so they won't say no
01[10:30] {Threei}  and we will get tax hikes and pretense of spending cuts
[10:31] {Will49} you're just mad that their crooks get to run the show instead of our crooks
[10:31] {Will49} your crooks
[10:32] {Will49} :)
01[10:32] {Threei}  very true
[10:32] {dino} only way you get serious spending cuts is if we go off the cliff. otherwise same old same old
[10:33] {Will49} be a good time for an alien invasion
[10:33] {Will49} do you think that would make people work together?
01[10:33] {Threei}  only if no supervolcano eruption on Dec 21
[10:33] {Will49} lol
01[10:33] {Threei}  but nemo promised
01[10:34] {Threei}  and no, part on humankind will collaborate with aliens
[10:34] {Will49} maybe the dems ARE aliens
[10:34] {robbers} Good, we need a three-party system.
[10:34] {Will49} the clever buggers
01[10:34] {Threei}  lol
[10:36] {Will49} POTUS's ears are a dead give away
[10:36] {Will49} he was probably born on he planet Zorn
[10:36] {Will49} the planet
[10:37] {Will49} and they don't have birth certificates there yet
01[10:37] {Threei}  rofl
01[10:37] {Threei}  but wait.. W was from Crypton I though?
[10:38] {Will49} yeah:)
01[10:38] {Threei}  so we are ruled by aliens for a good while
[10:38] {Will49} we earthlings are done for
01[10:38] {Threei}  White House reportedly will be flexible regarding the level of top tax rates - financial press
[10:39] {dino} out cbsh .52, +.27
[10:39] {scottie} out FB, went to 1:2 tks Vad
01[10:39] {Threei}  each hint of them finding common ground leads to market spike'
01[10:40] {Threei}  welcome sir
01[11:01] {Threei}  things stalled
01[11:01] {Threei}  visual:
[11:02] {nemo} yeah and the hurricane may have queered the housing numbers
01[11:19] {Threei}  watvh LVS for possible setup from under .10
01[11:19] {Threei}  if it tries to trap .20 buyers by quick dump
[11:23] {dino} shs spike
[11:24] {Will49} just to be clear..FB L break .10 after pullback?
[11:24] {dino} news shs?
[11:25] {Will49} sorry Vad meant LVS
[11:25] {Will49} LVS L .10 beak
[11:26] {Will49} break
[11:27] {dino} damn, can't  borrow shs
[11:27] {dino} srpt spike
01[11:27] {Threei}  yes
01[11:28] {Threei}  with .04 stop
01[11:28] {Threei}  and here we go
01[11:28] {Threei}  I call it Don't Kid the Kidder setup
[11:33] {scottie} out lvs, took half at .20, tks Vad
01[11:34] {Threei}  :)
01[11:34] {Threei}  isn't it a beauty?
[11:36] {scottie} yep, went out too soon
[11:44] {scottie} ERJ s .05 ?
01[11:45] {Threei}  not sure
[11:45] {scottie} ok
[11:47] {dino} wtw losing it
[11:50] {nemo} fslr
01[12:01] {Threei}  guess who is on TV
[12:01] {cc_8} Culp (NYSE: CFI) shares jumped 4.66% to create a new 52-week high of $13.70. LB Foster's PEG ratio is 1.27.
[12:01] {cc_8} Momenta Pharmaceuticals (NASDAQ: MNTA) shares lost 2.52% to create a new 52-week low of $10.06. 
[12:02] {cc_8} Cree Says LED Lighting Significantly Improves Sheetz Convenience RestaurantsPosted on: Wednesday, November 28, 2012 - 9:05amMore than 130 locations of convenience restaurant chain Sheetz, Inc. now . feature state-of-the-art LED lighting by Cree, Inc. (Nasdaq: CREE).
[12:02] {dino} ks spec div of $2
[12:17] {nemo} wtf
01[12:23] {Threei}
[12:35] {nemo} finnies still need to get to pivot
[12:38] {cc_8} Costco Latest Company to Announce Special Dividend Ahead of Fiscal CliffPosted on: Wednesday, November 28, 2012 - 10:21am
[12:38] {cc_8} Costco Wholesale Corporation (Nasdaq: COST) reported sales figures on Wednesday. The company posted net sales of $8.15 billion for the month of November, a nine percent increase
01[12:46] {Threei}  Gold saw its biggest one-day drop this morning in nearly a month as the spot price tanked about 2% from around $1,736 to as low as $1,706. The sudden drop triggered stops and drove a massive amount of selling in a thin market. Traders initially blamed a fat finger, but there was no immediate recovery as would be expected with such an error. Others cited a trader setting up a short play of some kind.
01[12:46] {Threei}  isn't it amazing
01[12:46] {Threei}  this fascination with explanation
01[12:46] {Threei}  everyone needs a backstory, as if there is always one for every market twist and turn
01[12:47] {Threei}  total speculation: Others cited a trader setting up a short play of some kind
01[12:47] {Threei}  lol
[12:47] {nemo} I find it often markets turn at very technical levels
01[12:48] {Threei}  hm... nemo, I just got an e-mail with groupon offer that made me think of you for some reason:
01[12:48] {Threei}  Gutter Cleaning
01[12:49] {Threei}  Up to 53%
[12:49] {nemo} Me too...I got one for exploding range targets...made me think of your head
01[12:49] {Threei}  hehe... hit the nerve
01[12:49] {Threei}  I feel like my job for the day is done
01[12:54] {Threei}  I nominate this as the stupidest twit of the day:
[12:55] {nemo} yeah, they tweet that every day
01[12:56] {Threei}  guess what dimwit - attempts to be the first to buy news didn't work in 1997 either, long before any algo
01[12:56] {Threei}  the sheer numbers of idiots out there never stops amazing me
[12:57] {nemo} bell curve dood
01[12:57] {Threei}  feels to me like it becomes curvier by day
01[12:57] {Threei}  or bellier?
[12:58] {nemo} morons breed more often, as Uncle Zhukie used to say
01[12:58] {Threei}  lol
[12:58] {nemo} I'm serious
[12:58] {dino} lol
[12:59] {nemo} he pointed out the window at them and said to my friend, "Do you really think they'll stop breeding!"
01[12:59] {Threei}  my grandfather once told me: you know you start getting old when you feel the world is doomed and idiots take over every nook and cranny.
01[13:00] {Threei}  By that criteria, I am getting old real fast
[13:01] {nemo} listening to you gets old real fast
01[13:01] {Threei}  Powerball Jackpot Swells to $550 Million, As Lotto Fever Sweeps the Nation
01[13:01] {Threei}  nemo... let's buy that ticket
[13:02] {nemo} Yeah, already done.  What's great about Powerball is you don't have to identify yourself
01[13:03] {Threei}  what do you mean already done... you bought a ticket
01[13:03] {Threei}  I meant THAT ticket
[13:03] {nemo} no...this afternoon...I wouldn't tell anybody...then just grab the passport and ....SAYONARA!!!!
01[13:03] {Threei}  say what??
01[13:04] {Threei}  what about my share??
01[13:04] {Threei}  sheesh...
[13:04] {nemo} you miss the part about the passport?
01[13:04] {Threei}  oh the humanity
[13:04] {nemo} @$#* humanity!!!
01[13:04] {Threei}  wire me my share, then grab that passport
[13:04] {nemo} already have passport
01[13:05] {Threei}  (US) Fed's Evans: US lawmakers will probably avoid the fiscal cliff; fiscal consolidation should take place over a longer, more appropriate period of time - interview- Reiterates that the US faces a long period of low rates, Fed can raise rates when the economy becomes more vibrant. - Reiterates that Fed should maintain zero rates until unemployment falls to 6.5%. - Fed needs to continue $85B in asset purchases (Operation Twist) for six months up to one year
01[13:05] {Threei}  hmmm
01[13:05] {Threei}  wasn't it "indefinitely"?
01[13:05] {Threei}  where did 6 month to 1 year come from
[13:17] {dino} tdc drop
[13:24] {scottie} APKT l .60 ?
[13:24] {scottie} if holds .50
01[13:25] {Threei}  hmmm
01[13:25] {Threei}  probably
[13:27] {dino} club hl l .98
01[13:29] {Threei} Short Setup: LVS  .80 break
01[13:30] {Threei}  If holds  .85 
01[13:31] {Threei}  no go
01[13:32] {Threei}  rinse??
01[13:33] {Threei}  yuck
01[13:33] {Threei}  disgusting, LVS... disgusting
01[13:33] {Threei}  right idea, one cent rinse
01[13:36] {Threei}  am I alone here?
[13:36] {Will49} we chickens are still here
[13:37] {thomcbell} pretty dull tape 
[13:37] {thomcbell} now 
01[13:37] {Threei}  ok... are will and I are alone here?
[13:37] {Will49} roll call
01[13:37] {Threei}  ok... are will, tbell and I are alone here?
[13:37] {thomcbell} FB tightest range in a while 
01[13:37] {Threei}  hehe
[13:37] {scottie} I'm in apkt .61, stop .54
[13:37] {Will49} me too scottie
01[13:38] {Threei}  bands are tightening
01[13:38] {Threei}  resolution must be coming
[13:38] {robbers} That was a really good call, just didn't work out perfectly.
01[13:38] {Threei}  ah well
[13:38] {thomcbell} on FB Vad?  and if so - with your 1 minute chart ones?
01[13:38] {Threei}  no, APKT
01[13:39] {Threei}  actually, FB too
01[13:39] {Threei}  just not as pronounced'
[13:42] {dino} tkr
01[13:43] {Threei} Long Setup:  FB  .30 break
[13:46] {dino} gdi spike
[13:52] {dino} gdi sm s .74
[13:52] {dino} cov .34, +.40
[13:53] {nemo} ya' know, one could argue short here on spy
[13:53] {dino} mlnx bloody
01[13:53] {Threei}  I could argue both sides of this equally
[13:54] {nemo} yes, and of course, overbought can lead to overboughter
[13:56] {dino} tkr spike
[13:57] {nemo} gmcr about to go
[13:57] {dino} club stopped -.14
01[13:57] {Threei}  hand it a diaper, quick
01[14:01] {Threei}  expanded at measured pace
01[14:01] {Threei}  FB stop to .29
01[14:02] {Threei}  out
[14:08] {scottie} half out apkt
01[14:09] {Threei}  nice
[14:09] {Will49} missed half by 1 cent
[14:09] {dino} gj
[14:09] {scottie} ty
[14:09] {Will49} got it
[14:09] {scottie} great will
[14:09] {Will49} tks scottie
[14:11] {scottie} stop .63
01[14:13] {Threei}  hmmm
01[14:14] {Threei}  According to a study by Spectrem Group, 58 percent of millionaire pet owners have a dog. Only 37 percent own a cat. Only three percent keep fish, two percent birds and two percent have a horse.
01[14:14] {Threei}  no single rabbit
[14:14] {Will49} haha
[14:14] {nemo} ;-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-);-)
[14:14] {nemo} I woke up around 4 this morning, which is bunny's favorite play time
[14:17] {scottie} dtop .69
[14:17] {scottie} stop
[14:22] {scottie} out
[14:26] {nemo} tna could be long above .20
[14:28] {nemo} nope
[14:39] {nemo} o.k. I was a tad early
[14:45] {nemo} Qs IWM and SPY all got to their daily pivots, finnies the only thing that hasn't yet
[14:50] {scottie} GG .35 if holds .25 ?
[14:51] {scottie} went up while I was typing
[14:54] {scottie} in .36
[14:55] {nemo} can't get lower lows on indexes, this is looking more like a breakout coming
[14:58] {scottie} half out
[15:02] {scottie} stop .39
01[15:03] {Threei}  wtg
[15:03] {dino} gj
[15:04] {scottie} out 
[15:04] {scottie} ty
01[15:06] {Threei} Short Setup: FB  .20 break
[15:09] {nemo} big gap up tomorrow
01[15:10] {Threei}  (US) Senator Conrad (D-ND) Budget Committee Chair: Need $400B worth of spending cuts and revenue raises as a downpayment this year to avoid the fiscal cliff- Affirms that any deal to avoid the fiscal cliff should include raising the debt ceiling - Recommends a split of $400B between revenue and spending cuts
01[15:10] {Threei}  400B?
01[15:10] {Threei}  4 months deficit
[15:10] {dino} rgr drop
[15:14] {Will49} big wick at 15:10 doesn't invalidate FB..right?
[15:15] {nemo} finnies topped out at pivot...that may be it
01[15:16] {Threei}  valid, yes
[15:16] {Will49} tks
01[15:17] {Threei} Short Setup: GLD  .50 break hl
01[15:17] {Threei}  If holds  .60 
01[15:29] {Threei}  Invalidated  FB 
01[15:44] {Threei}  die GLD
01[15:54] {Threei}  meh
01[15:54] {Threei}  ok guys, thank you all
01[15:55] {Threei}  have a good evening, see you tomorrow
[15:56] {scottie} gn all
[15:57] {dino} thx all, gn