Wednesday, December 5, 2012

Dec 5 2012

Another fine day with solid profit, not much happening broad picture wise.

Session Time: Wed Dec 05 00:00:00 2012
[09:06] {dino} gm
01[09:06] {Threei}  FCX
01[09:06] {Threei}  acquired MMR for 20B
[09:07] {dino} mmr oil?
01[09:07] {Threei}  yeah
01[09:07] {Threei}  FCX returns to its roots
01[09:08] {Threei}  started out as energy
[09:08] {thomcbell} yes and PXP
[09:09] {thomcbell} huge acquisition for FCX
[09:09] {thomcbell} size wise 
[09:09] {cipher} gm
01[09:09] {Threei}  cipher :)
01[09:10] {Threei}  rofl, phrase right from nemo's skull:
01[09:10] {Threei}  My idea of "help from above" is a sniper from the roof
[09:10] {ese} morning..........
[09:10] {ese} fcx
01[09:10] {Threei}  ese :)
[09:11] {nemo} channeling me, are you?
01[09:13] {Threei}  here is who does, nemo:
01[09:18] {Threei}  come on, don't tell me you didn't feel like you could have written this
[09:19] {nemo} yeah...saw that 25 years ago
01[09:20] {Threei}  cranky this morning, aren't we
[09:20] {nemo} not at all, just stating a fact
01[09:21] {Threei}  you should've added "saw that on Facebook 25 years ago"
[09:21] {nemo} ?
[09:21] {Will49} gm
[09:21] {nemo} put the bottle down Vad!
01[09:21] {Threei}  will :)
01[09:22] {Threei}  sigh... never mind
01[09:22] {Threei}  my sense of humor is not from not for this planet
01[09:22] {Threei}  fortunately, I don't give a flying sternutation
[09:23] {Will49} FCX?
01[09:24] {Threei}  bought MMR
[09:24] {Will49} not suggesting a trade, just curious
[09:24] {Will49} ahhhh
01[09:24] {Threei}  will be at some point, just not at the open
[09:26] {Beau} good morning
[09:26] {robbers} Ese, I sent you a PM via DCC....
01[09:26] {Threei}  beau :)
01[09:31] {Threei} Short Setup: FB  .75 break
01[09:31] {Threei}  If holds  .85 
01[09:32] {Threei}  no worky
[09:32] {ese} hey robbers......were do i find the dcc...its not showing up on the top of my screen
[09:32] {robbers} in the window to the left.
01[09:33] {Threei}  rinse
01[09:33] {Threei}  grrr
[09:34] {cipher} SCSS L .75
[09:34] {ese} L fcx .48 sm
01[09:35] {Threei} Long Setup:  GDX  .20 break
01[09:35] {Threei}  If holds  .10 
01[09:35] {Threei}  target 1:2
01[09:36] {Threei}  1:1
01[09:36] {Threei}  1:2, out
[09:37] {cipher} out scss flat
[09:37] {Will49} tks Vad +.16
01[09:37] {Threei}  :)
[09:38] {cipher} scss l .30
[09:39] {patel} thanks Vad on GDX :)
01[09:39] {Threei}  yw
[09:39] {patel} FB is making me want to puke....
[09:40] {thomcbell} FB at pivot 
01[09:40] {Threei}  scare blue, ese got profitable one on FCX despite late entry
01[09:40] {Threei}  FB, I just hate this kind of things
[09:40] {nemo} should get to 33ish
01[09:40] {Threei}  got it right, got rinsed by couple cents
[09:40] {patel} i know
01[09:41] {Threei}  aside of profit/loss considerations, this kind makes you question your discipline
01[09:41] {Threei}  next time you get tempted to blow your stop
01[09:41] {Threei}  and it works
01[09:41] {Threei}  and you start blowing them every time
[09:41] {patel} i agree
01[09:41] {Threei}  and then that one comes and destroys your account
[09:42] {cipher} out scss -.12
01[09:42] {Threei}  so... discipline tramps conviction
01[09:42] {Threei}  trumps?
[09:44] {ese} wasn't a late filled .25 higher than when i tried to get in.......stock is swampted
01[09:44] {Threei} Short Setup: SLW  .80 break
01[09:44] {Threei}  wow... are you using market orderd???
[09:44] {ese} i'm up .40 now..........dino would be proud
[09:45] {ese} was up .40
[09:45] {dino} i am
01[09:45] {Threei}  (US) Senate Majority Leader Reid (D-NV): It is hard to conduct rational negotiations with many Republican members
01[09:45] {Threei}  I am sure
[09:46] {thomcbell} short setup lvs 45.91 break if holding 46
[09:46] {ese} stop .00
01[09:47] {Threei}  seriously ese... market order on a hot stock at the open is a form of financial suicide
[09:47] {thomcbell} target is 45.50 for me 
[09:47] {ese} stopped .99
[09:47] {dino} but ese i never use market orders
[09:47] {thomcbell} small position 
[09:47] {ese} +.51
[09:47] {dino} gj
01[09:47] {Threei}  wtg but I am concerned
[09:47] {ese} ya 400shs
[09:47] {patel} target on SLW
01[09:48] {Threei}  not sure
01[09:48] {Threei}  let's trail stop to .86 for now
[09:48] {thomcbell} wow aapl is a mess again
[09:48] {thomcbell} lvs 1:1
01[09:48] {Threei}  it feels like possible plunger to me...
01[09:49] {Threei}  let's try for 1:3
01[09:49] {Threei}  good one on LVS tbell
[09:49] {ese} it wasn't that much of a gamble.......with that news this thing was always goin up
01[09:49] {Threei}  1:1
01[09:49] {Threei}  ese, trade iotself, maybe - but market order?
01[09:50] {Threei}  25 cents slippage
01[09:50] {Threei}  yikes
[09:50] {dino} well, risk is our business
[09:50] {robbers} out slw, thanks.
01[09:50] {Threei}  1:2
01[09:51] {Threei}  yw
[09:51] {ese} ya not disagreeing with you........on some other news or stock.......would be no where near it
[09:51] {ese} was prepared to exit quick.........had the stop in imediately
[09:52] {Will49} slw 1:2 out tks Vad
01[09:52] {Threei}  well, question is, how much were you prepared to chase from your intended entry?
01[09:52] {Threei}  yw will
01[09:52] {Threei}  was it really 25 cents?
[09:53] {dino} 07 red
[09:53] {thomcbell} lvs 1:2
01[09:53] {Threei}  if less, why not limit order at the price to which you are willing to chase?
[09:53] {ese} hmmmmmmm ya good thought
01[09:53] {Threei}  SLW 1:3, out
01[09:53] {Threei}  say, your l,imit of tolerance is 10 cvents of chasing,
01[09:53] {Threei}  stock trades at .25,
[09:54] {patel} thanks vad :)
01[09:54] {Threei}  you hit it with limit buy order .35
01[09:54] {Threei}  yw
01[09:54] {Threei}  it will swipe best available prices all the way from .25 to .35
01[09:54] {Threei}  but it won't chase higher
[09:54] {patel} I been away from trading for little over 3 years now. I visited your website once a week for the past 3 years. 
01[09:55] {Threei}  with market order at the open you are asking for a fill at the top of the spike
[09:55] {patel} Finally, I wanted to try trading and work a full time job. 
[09:55] {robbers} Welcome back!
01[09:55] {Threei}  cool beans patel, so far it works :)
[09:56] {dino} gl patel
[09:56] {patel} thanks
[09:56] {Will49} yes good luck
[09:56] {thomcbell} lvs 1:3
[09:56] {patel} I been in the chat before. 
[09:56] {patel} back in 2009
[09:56] {dino} the jungle is enticing
01[09:56] {Threei}  I knew the nick was familiar
01[09:57] {Threei}  my memory doesn't really go much more than 20 min back though
[09:57] {patel} haha
[09:57] {patel} yeah i was shocked
[09:57] {patel} when u gave me the same nickname and password. 
01[09:57] {Threei}  not me
[09:57] {Will49} that's cause you're a human bean Vad
01[09:57] {Threei}  system
01[09:57] {Threei}  lol will
01[09:57] {Threei}  if you in database, it does it automatically
01[09:58] {Threei}  big brother wathcing... rememering you... tracking you down... and salp;ping you with the same nick
[09:58] {thomcbell} flat lvs 45.55
01[09:58] {Threei}  beaituful trade tbell
01[09:59] {Threei}  hit your target exactly
[09:59] {thomcbell} tu - 2x
[09:59] {thomcbell} for teaching #1
01[09:59] {Threei}  09:47] {thomcbell} target is 45.50 for me
[10:00] {dino} mfrm hl l .65
[10:00] {nemo} numbers?
01[10:00] {Threei}  good
01[10:00] {Threei}  both
01[10:00] {Threei}  *(US) OCT FACTORY ORDERS: 0.8% V 0.0%E
01[10:00] {Threei}  *(US) NOV ISM NON-MANUFACTURING COMPOSITE: 54.7 V 53.5E
01[10:04] {Threei}  wow... selling into good numbers
01[10:04] {Threei} Short Setup: FB  .50 break hl
[10:04] {ese} gotta go's my Christmas Fina Arts Night concert tonight.......will and vad starts at 7:pm at Vic High.......robbers still couln't find find that dcc....don't have a colmn on the left with
01[10:05] {Threei}  If holds  .60 
01[10:05] {Threei}  take care ese
01[10:07] {Threei}  1:1
[10:13] {dino} mfrm to b/e
[10:14] {dino} stopped
[10:16] {thomcbell} FCX feels like 33 break if holding 33.14 1/2 lot 
01[10:18] {Threei}  (US) House Speaker Boehner: We made a good-faith offer to President Obama, now we need a reply from the White House
[10:18] {dino} hov .01 trig l
[10:19] {thomcbell} 1:1 fcx 
01[10:19] {Threei}  nice
[10:22] {thomcbell} stop to 32.91 on fcx 
[10:22] {thomcbell} due to vol
[10:24] {thomcbell} darn fcx
[10:27] {dino} bidu sm l .01 stop lod
01[10:30] {Threei}  - Reiterates that raising revenue via closing tax loopholes is acceptible, raising taxes is not. - House Majority Leader Cantor (R-VA): The House Republicans have not sat down and spoken with the President about specifics
[10:31] {dino} bidu stop -.36
[10:33] {dino} rinsed
[10:41] {dino} ndx blood
[10:47] {dino} gco hl l .2999
01[10:53] {Threei} Long Setup:  FCX  .90 break
01[10:53] {Threei}  If holds  .80 
01[10:55] {Threei} Short Setup: SLW  .10 break
01[10:55] {Threei}  If holds  .20 
01[10:56] {Threei}  let's trail FCX to .84
01[10:56] {Threei}  target 1:3
01[10:58] {Threei}  no go SLW
[10:59] {thomcbell} was there some sort of data point on aapl?  this is unreal
01[10:59] {Threei}  not that I know of
01[11:00] {Threei}  1:1 FCX
01[11:00] {Threei}  wow
01[11:00] {Threei}  (US) Pentagon discloses that it has been informed by the budget office to start planning for the automatic sequester cuts - financial press- Pentagon highlights that had not been told to plan for cuts earlier
01[11:00] {Threei}  unlesds it's a bullying trick, they really prepare for the cliff possibility
[11:03] {patel} so once you get your 1:1 on half
[11:03] {patel} do u set the stop to b/e
01[11:04] {Threei}  just under
01[11:04] {Threei}  .89
[11:04] {patel} okay
01[11:04] {Threei}
[11:05] {patel} thats what I thought just wanted to make sure. 
[11:05] {patel} thanks
[11:20] {dino} dds drop
01[11:24] {Threei}  (US) President Obama: Housing is coming back and US consumer confidence is high - address to business roundtable- Economy worldwide remains soft; Europe likely to be weak for some time - "Rooting" for US businesses to succeed - White House Budget proposal reflected a balanced and responsible approach; prepared to make difficult spending decisions, but we "can't cut our way to prosperity." - "we can probably resolve this in about a week, its not that complicated." The hold up right now is that Speaker Boehner has taken a stance against tax rate increases for the wealthy. Closing loopholes is just not enough. - It is bad strategy to put off addressing the debt ceiling until next year; I will 'not play that game' if Congress wants to push the country closer to default by negotiating with the debt ceiling. }- There is time to deal with tax reform next year.
01[11:25] {Threei}  we "can't cut our way to prosperity." {--- but we can spend our way to prosperity?
01[11:25] {Threei}  sigh
[11:51] {dino} scss hl l .99
[12:01] {thomcbell} any clue what that was all about?
01[12:02] {Threei}  ?
[12:02] {thomcbell} this last push higher
[12:02] {dino} ?
[12:03] {thomcbell} disregard
[12:03] {thomcbell} pretty explosive move that continues here
[12:06] {nemo} this is the start of the santa clause rally
[12:08] {dino} its the "we can probably resolve this..."
[12:08] {nemo} spy going for the 50 sma at 142.25ish
01[12:10] {Threei}  exactly dino
01[12:10] {Threei}  next talking head comes out and says "we are nowhere close" and rally evaporates in a blink of eye
[12:10] {dino} god has spoken
[12:16] {dino} uthr hl l .50
[12:19] {dino} wdc spike
[12:21] {dino} scss stop -.07
[12:23] {dino} out uthr .74, +.24
[12:28] {dino} wdc hl s .80 stop .01
01[12:28] {Threei} Short Setup: GLD  164 break hl
01[12:28] {Threei}  If holds  .10 
[12:32] {nemo} europe closed flat
[12:33] {nemo} this should be the run to the 50 if it breaks 142 and holds above
[12:36] {dino} cov wdc .50, +.30
[12:36] {Will49} sorry Vad, just stepped away for a few minutes...was GLD invalidated?
01[12:36] {Threei}  yeah
[12:37] {Will49} kind of obvious eh?
[12:37] {nemo} you're not getting spy capitulation volume up here
[12:39] {dino} out gco .02, +.67
[12:41] {thomcbell} GCO molto bene signori
[12:41] {dino} ty
[12:44] {Beau} patience personified, dino
01[12:46] {Threei}  let's keep an eye on GLD again
01[12:46] {Threei}  same idea
01[12:47] {Threei}  after all, VWAP is 163.78 {G}
[12:48] {dino} lol
[12:48] {Will49} zing...
[12:49] {Will49} not a symbol
[12:49] {dino} bazinga
[12:49] {Will49} only a symbol of Vad's humour
[12:49] {Will49} or "humor" for the rest of you
[12:51] {nemo} oh, just checked, 50 was at .05, that, may be the top
01[13:01] {Threei}  so, in theory GLD should give us 1:2 before finding support?
[13:02] {dino} it should search out that vwap
[13:02] {dino} they are like magnets
01[13:02] {Threei}  trying to compare it to my chart read
01[13:02] {Threei}  I'd go for 1:3
01[13:02] {Threei}  VWAP says 1:2
[13:05] {patel} VWAP a symbol
01[13:06] {Threei}  indicator
[13:06] {patel} ok
[13:06] {nemo} it stands for Vad's Warped Attitude and P.,..
01[13:06] {Threei}  hmmm
[13:06] {patel} volime weighted avg pr
01[13:06] {Threei}  and P?
[13:06] {nemo} couldn't come up with anything quick and witty
[13:06] {nemo} gives us something to work on though
01[13:07] {Threei}  no kidding
[13:09] {dino} vads weight adds pounds
01[13:09] {Threei}  that's so... cruel... and untrue... sniff sniff
[13:10] {dino} :)
01[13:10] {Threei}  any more weight loss, I could hide behind 2-years old birch tree
[13:10] {dino} hmmmm
[13:10] {nemo} 2 year old obese birch tree?
01[13:11] {Threei}  ok... behind broom if nemo girlfriend dismounted it
[13:11] {nemo} that would be a forget my background
01[13:11] {Threei}  but I wanted to compliment you
01[13:11] {Threei}  how else can I hurt you?
[13:12] {Will49} you're fom the broomstick girls area nemo
[13:12] {Will49} from
[13:12] {Will49} the ones they used to burn
[13:13] {nemo} I'm outta here have a nice day
01[13:15] {Threei}  huh
01[13:15] {Threei}  did we manage to insult him successfully?
[13:15] {Will49} looks like
01[13:16] {Threei}  can't be
[13:16] {Will49} t was the girlfriend thing
01[13:16] {Threei}  no one ever achieved that
[13:16] {Will49} we know his hot button now
[13:17] {dino} orly hl l .17
01[13:21] {Threei}  die already GLD
01[13:22] {Threei}  sheesh
[13:22] {dino} wdchl s .65
[13:22] {patel} looking for 1:2 to 1:3 on GLD right
01[13:22] {Threei}  yes
01[13:33] {Threei}  (US) Republican Congressional Aide: There have been no staff level fiscal cliff discussions between Congress and the White House in the last 24 hours- There are no plans for talks today
[13:35] {dino} jwn drop
[13:35] {dino} hl l .40
[13:35] {dino} orly stop -.15
[13:38] {thomcbell} big move there on rimm
[13:40] {dino} jwn stop -.30
01[13:41] {Threei}  1:1
[13:43] {dino} jwn, another rinse, that makes 3 today
01[13:47] {Threei}  ok, made up my mind, will try for 1:3
[13:47] {cc_8} Honeywell Turbo Tech to Provide for China's Leading SUV, Pickup ManufacturerPosted on: Wednesday, December 5, 2012 - 1:11pmHoneywell's (NYSE: HON) Turbo Technologies will provide its diesel VNT technology to Great Wall Motors, China's leading SUV and pickup manufacturer.
01[13:48] {Threei}  LOL, twitter: Huffington approach to business news: Business is bad. Taxes are good. Elizabeth Warren was sent by God. God does not exist.�
[13:57] {dino} jwn hl l .07
[13:58] {dino} wdc to .41
[14:00] {dino} cover wdc .37, +.27
01[14:03] {Threei}  scalpers win
[14:11] {dino} oeh spike
[14:12] {thomcbell} long setup FB 27.46 break if holding 27.36 
[14:16] {thomcbell} short setup rimm 11.88 break if holding 12 - unsure if a borrow avail
[14:19] {thomcbell} Vad the larger pattern is interesting me on FB - 0.46 wicks and intraday downtrend line about the same level 
01[14:23] {Threei}  you looking at 1 min?
01[14:23] {Threei}  I mesan, where are wicks?
[14:24] {dino} on candles
01[14:24] {Threei}  lol
[14:24] {thomcbell} 10 min on top of 1 min is what i look at on all the suspects
[14:24] {thomcbell} FB 1:1
[14:25] {thomcbell} kind of
01[14:25] {Threei}  yup
[14:25] {thomcbell} rimm invalidated - never triggered
[14:25] {patel} nice job on FB 
[14:26] {thomcbell} tu
[14:29] {thomcbell} vad take a look at Rimm - i think there will be a short trade somewhere in here
[14:30] {dino} its available
01[14:30] {Threei}  12 break...
01[14:30] {Threei}  could be
01[14:30] {Threei}  wait for bounce back
01[14:30] {Threei}  don't chase
[14:30] {dino} out jwn .50, +.43
[14:30] {thomcbell} nice one Dino
[14:31] {dino} thx
[14:35] {thomcbell} ive done nothing here on rimm FYI
01[14:36] {Threei}  well, it can be double top
01[14:36] {Threei}  so, break of 12 is a short setup
01[14:36] {Threei}  if no new high
[14:36] {patel} 6 cents risk
[14:39] {thomcbell} FB stop to 27.53 
[14:46] {thomcbell} FB 1:2
[14:48] {thomcbell} FB stop to 27.63 on balance 
[14:48] {thomcbell} FB 1:3
[14:48] {dino} gj
[14:48] {thomcbell} made another sale
01[14:48] {Threei}  beautiful
[14:49] {Will49} congrats
[14:49] {patel} fabulous :)
[14:49] {thomcbell} 1:4 and out
[14:49] {Will49} wowee
[14:52] {dino} nice
[14:55] {thomcbell} tu
[14:57] {thomcbell} tibx long setup 19.90 break if holding 19.80 
[15:11] {thomcbell} tibx 1:1
[15:12] {Will49} you're on fire today tbell
[15:12] {dino} out tibx .03, +.12 ty tbell
01[15:12] {Threei}  killer plays
[15:12] {patel} good job on TIBX.
[15:13] {patel} I put a buy stop order 
[15:13] {patel} it never filled. 
[15:13] {dino} jwn l .70
[15:13] {patel} 19.91 with a stop price of 19.92
[15:13] {thomcbell} duh 
[15:13] {thomcbell} that stinks 
[15:14] {patel} yeah
[15:14] {patel} anyone use Laser
01[15:14] {Threei}  yes
[15:14] {dino} how dud that not fill?
[15:14] {dino} did
01[15:14] {Threei}  but I prefer manual executions
[15:14] {patel} no idea. 
[15:15] {patel} I just started with Laser
[15:15] {patel} so this was the 1st time I set that type of order up 
[15:15] {patel} normally I do manual executions
[15:16] {dino} odd
[15:17] {patel} does anyone else use buy stop in this room?
[15:17] {dino} i do a lot
[15:17] {dino} ese does too
[15:17] {patel} how many cents above the break do u typically go out. 
[15:18] {dino} .01, usually fills there or cent or 2 higher
[15:18] {dino} thicky like tibx right on it
[15:19] {patel} it jumped pretty quickly from 19.91 to 19.94
[15:19] {Will49} so you use OMS on laser to do that dino?
[15:19] {dino} i'm not laser
[15:19] {Will49} ah
[15:20] {patel} yeah
[15:20] {patel} I use OMS
[15:20] {Will49} been burned a few times putting hard stop on with laser
[15:20] {patel} BIDU just took out yesterday's lows
[15:20] {Will49} only use it when forced to leave the room
[15:20] {patel} yeaH
[15:21] {patel} I wont use OMS in the future. 
[15:21] {Will49} like getting a UPS shipment this morning
[15:21] {dino} i use hard stops about 70% of time
[15:21] {Will49} interesting
[15:21] {dino} on gappers i cannot, suicide
[15:22] {dino} disca spike
[15:24] {dino} news?
01[15:24] {Threei}  not that I see
[15:25] {dino} nor i
[15:25] {dino} sm s .00 break
[15:26] {thomcbell} going to still watch this tibx for another play 
[15:31] {dino} disca bstop to .80
[15:31] {thomcbell} that could be the handle there in tibx Vad
[15:32] {dino} to .72
[15:32] {dino} cov disca .72, +.28
[15:34] {dino} jwn to .80
[15:35] {dino} out +.09
[15:37] {dino} \bidu, sina nnew 52 wk lows
[15:37] {dino} i really need to look at keyboard when i type
[15:44] {dino} pretty good drop going on
[15:52] {dino} fcx app lod
[15:55] {dino} ok, calling it a day. thx all
[15:55] {Will49} Cheers guys
[15:56] {patel} take care guys
[15:56] {patel} pretty nice green day for me. 
[15:57] {patel} only if the TIBX would have executed would have been an awesome day
[15:57] {Will49} wtg
01[15:57] {Threei}  thank you all, have a good evening
01[15:57] {Threei}  see you tomorrow
[15:57] {thomcbell} good night guys
[15:59] {dino} wow dji -65 in last few minutes