Friday, January 11, 2013

Jan 11 2013

Another day of see-saw action, ending on slightly negative note. Overall, not an easy trading week, with great days, so-so days and a lot of rinses.  

 [09:05] {dino} gm
01[09:06] {Threei}  dino :)
[09:07] {cipher} gm
01[09:07] {Threei}  cipher :)
[09:07] {_jdetente} gm
01[09:07] {Threei}  jd :)
01[09:07] {Threei}  HLF got downgraded
[09:07] {cipher} I never liked HLF concept
[09:07] {cipher} looks like a pyramid
01[09:08] {Threei}  total yikes
01[09:08] {Threei}  it is a pyramid-schemed multilevel marketing
[09:08] {cipher} if I will trade it it will be from the short side only
[09:13] {scottie} good morning
01[09:13] {Threei}  scottie :)
[09:22] {goryl} gm
01[09:22] {Threei}  goryl :)
01[09:30] {Threei} Short Setup: WFC  .75 break hl
01[09:30] {Threei}  If holds  .85
[09:30] {goryl} no short list
[09:31] {nemo} buy the dips
01[09:32] {Threei} Long Setup:  HPQ  .60 break
01[09:33] {Threei}  If holds  .50
01[09:33] {Threei}  no go
01[09:35] {Threei} Long Setup:  SLW  .40 break
01[09:36] {Threei}  If holds  .30
[09:36] {dino} clf?
01[09:37] {Threei}  wtf
[09:37] {nemo} wow already extreme at whole
01[09:37] {Threei}  don't see any news CLF
[09:37] {cipher} WFM L .00
[09:37] {thomcbell} wow bhp too down decent
[09:38] {nemo} maybe with all the executive order talk clf figures they might beout of business
[09:39] {dino} clf hl l .75
01[09:39] {Threei} Long Setup:  JCP  .10 break
01[09:40] {Threei}  If holds  18
[09:40] {cipher} out wfm .21 +.21
[09:40] {dino} out clf .10, +.35
01[09:45] {Threei} Long Setup:  FB  .25 break
01[09:45] {Threei}  If holds  .15
01[09:47] {Threei}  SPY loses ground
[09:48] {nemo} look for bounce by .72
01[09:49] {Threei}  FB is holding the line so far
01[09:49] {Threei}  aimi for 1:2
[09:51] {dptl} gm
01[09:52] {Threei}  dp :)
01[09:52] {Threei}  1:1
[09:52] {scottie} +.10 tks Vad
01[09:52] {Threei}  yw
[09:52] {cipher} +.15 fb thx
01[09:52] {Threei}  1:2, out
[09:53] {cc_8} Among the companies with shares expected to actively trade in Friday’s session are Best Buy Co. BBY +9.83% (BBY) ArQule Inc. ARQL -15.21% (ARQL) and Dendreon Corp. DNDN +13.31% (DNDN).
[09:53] {nemo} infy]
[09:53] {cc_8} Overnight action: SAC braces for big exodus of funds; Flood of deposits bedevils banks; Delhi rape suspects’ details emerge.
[09:54] {_jdetente} FB nice trade. thanks
01[09:54] {Threei}  yw
01[09:54] {Threei}  underestimated a bit but this is scary loosing SPY
[09:54] {cipher} celg l .70
01[09:54] {Threei}  looking
[09:54] {dino} fio
[09:55] {cc_8} The Russell 2000 index of small-capitalization stocks finished at another all-time high on Thursday. The record exemplifies how smaller companies that benefit from an improving U.S. economy continue to rally, and outpace their larger brethren.
[09:55] {dptl} rht .20 short?
[09:55] {cipher} out celg .80 +.10
01[09:56] {Threei}  with this spread, I just don't want to touch it
[09:56] {thomcbell} dndn looks like a long here
[09:56] {thomcbell} 5.93 break if holding 5.83
[09:57] {cipher} ibb l .15
01[09:57] {Threei} Long Setup:  JCP  18 break
01[09:57] {Threei}  If holds  .90
[09:59] {cipher} cstr l .77
[09:59] {thomcbell} lvs looking for a double bottom setup here
01[09:59] {Threei}  (US) Fed's Plosser: US must handle its fiscal issues, benefits of QE do not exceed the costs - Q&A- Reiterates the biggest risks associated with QE is the exit strategy; would be in support of halting the bond buying program - Rapid increase in long-term rates would pose balance sheet problems for the Fed.
01[10:00] {Threei}  1:1
01[10:00] {Threei}  what exit strategy? they have one?
[10:01] {nemo} fcx
01[10:01] {Threei}  I've got perfect exit strategy suggestion for the fed... exit this country and never come back
[10:02] {dino} clf hl l .04 ave
[10:05] {scottie} +.10 JCP, tks Vad
01[10:05] {Threei}  :)
01[10:05] {Threei}  1:2, out
01[10:06] {Threei}  1:3
01[10:06] {Threei}  crying
01[10:06] {Threei}  second underestimated one
[10:06] {cipher} out ibb .00 -.15
[10:06] {_jdetente} FB took a rocket ride
[10:06] {cipher} ibb s .99
01[10:06] {Threei}  must... not... watch... it...
[10:07] {dptl} out jcp ty
01[10:07] {Threei}  yw
01[10:07] {Threei}  global warming in action:
01[10:08] {Threei}  what's with these bouts of selling
[10:08] {dino} dk, been happening all week
[10:09] {thomcbell} wow splk
01[10:09] {Threei}  can it be that, if we are looking under the hood, we are no longer in a bull market?
[10:11] {cipher} out cstr .99 +.22
01[10:11] {Threei} Long Setup:  JPM  .60 break
01[10:12] {Threei}  If holds  .50
[10:12] {cipher} cov ibb .90 +.09
[10:13] {dino} i think we are in bull until we are not 3i.
01[10:13] {Threei}  no shit sherlock
[10:13] {nemo} State of the Union Address
01[10:13] {Threei} Short Setup: FB  .80
01[10:13] {Threei}  If holds  .90
[10:14] {dino} good point nemo, he'll bring us down
01[10:14] {Threei}  it could be that market is sensing bloodbath coming with debt ceiling debate
[10:15] {dino} whatever happens happens. will not affect me. just react
01[10:15] {Threei}  let's do a double top here, FB
01[10:16] {Threei}  grrr
01[10:16] {Threei}  stopped
[10:16] {nemo} FB going to 33.50
[10:17] {cipher} petm l .99
[10:18] {scottie} jpm valid ?
01[10:18] {Threei}  yes
[10:18] {cipher} out petm .10 +.11
[10:21] {cipher} esrx l .20
01[10:22] {Threei}  did JPM trigger? looked away for a sec
[10:28] {cipher} adbe l .95
[10:29] {dptl} swk .08 short?
[10:30] {cipher} out adbe .05 +.10
01[10:30] {Threei}  don't know, way too low volumre
[10:31] {_jdetente} are you in JPM?
01[10:31] {Threei}  yes
01[10:31] {Threei}  market should reverse here
[10:33] {_jdetente} ugh stopped
01[10:33] {Threei}  no go
01[10:33] {Threei}  not delighted
01[10:33] {Threei}  back and forth morning
01[10:33] {Threei}  frikin FB rinsed
[10:37] {_jdetente} discipline :(
[10:37] {_jdetente} :)
[10:38] {dptl} stx .15 long?
01[10:38] {Threei}  yeah
[10:39] {goryl} u taking it vad?
01[10:39] {Threei}  nah, a bit lukewarm
01[10:40] {Threei}  JPM another rinse
01[10:40] {Threei}  don't you hate that discipline, lol
[10:40] {dino} yeah, but the one you don't keep disciplined will get you bad
01[10:41] {Threei}  of course
01[10:41] {Threei}  look at it
01[10:41] {Threei}  setup was ideal, everything in place
[10:44] {cc_8} Shakeout Before a Breakout? That major averages were able to hold on to last week's gains was a pretty good indication that a test of the market's September highs wasn't far off.
[10:44] {dino} nemo. odds of clf hitting s3?
[10:46] {dino} 07 red
01[10:47] {Threei} Long Setup:  JCP  .30 break
01[10:47] {Threei}  If holds  .20
[10:48] {nemo} hold on DIno
[10:52] {dino} disconnect. markets going up but banks app lod
[10:52] {nemo} Dino, I expect it to test these lows headed Obama stepchild, end of big upweek S4 36.16 you hit that less than 10% of time. 35.80 is 38.2 retrace....SPY not showing much strength either
01[10:52] {Threei}  let's make it two-sided
[10:53] {goryl} 20 break short?
01[10:53] {Threei}  right
[10:53] {dino} thx buddy
[10:53] {nemo} this is vwap on clf probably gonna' get shake and bake until it breaks a range
01[10:53] {Threei}  red headed Obama stepchild? lol
[10:53] {nemo} coal industry
01[10:53] {Threei}  trekkers would call it a redshirt
[10:54] {thomcbell} darn lvs
[10:55] {dino} you see the trekkers on "big bang" last night?
[10:55] {_jdetente} feels like JCP may hold here
01[10:56] {Threei}  so far holding downtrend on 1 min
01[10:57] {Threei}  not watching that one dino...
01[10:57] {Threei}  can squeeze just so much crap in life, and current adnministration with fed takes disproportionally big share :)
[10:57] {dino} lol, you worry too much
01[10:58] {Threei}  not really
01[10:58] {Threei}  I resigned to the fact that we are screwed
01[10:59] {Threei}  just trying to find a way to derfive a pleasure from that
06[11:00] * Threei hits JCP over the head with 2x4
[11:02] {goryl} tibx .8 short?
01[11:03] {Threei}  smaller shares
01[11:03] {Threei}  can be jumpy
01[11:04] {Threei}  let's tighten JCP to .26
[11:06] {dino} out clf .28, +.24
01[11:06] {Threei}  wtg
01[11:07] {Threei}  lose that .15 already, JCP
01[11:08] {Threei}  ok, who is Strader455
01[11:08] {Threei}  1:1 baby
[11:12] {dino} faro
[11:15] {dptl} got to leave early ...have a good weekend all
[11:15] {scottie} dp
[11:16] {cipher} sohu s .50
[11:17] {thomcbell} short setup rimm 12.04 break if holding 12.14
[11:18] {cipher} cov SOHU .24 +.26
[11:19] {cipher} sohu l .21
[11:21] {cipher} out .49 +.28
01[11:21] {Threei}  like a flute
[11:21] {dino} faro sm l .72
[11:21] {dino} cya dp
[11:21] {cipher} done for the week
[11:21] {dino} cya cipher
[11:21] {cipher} cya monday
01[11:22] {Threei}  have a good weekend
[11:22] {cipher} thx you too
[11:25] {thomcbell} rimm invalidated
[11:25] {dino} nemo, good read on clf
01[11:29] {Threei}  out JCP in full
01[11:29] {Threei}  day is slightly positive but I don't feel satisfied with it
01[11:40] {Threei}  JCP had more in it
01[11:40] {Threei}  exiting too soon seems to be my curse for today
01[11:40] {Threei}  third trade
[11:47] {nemo} clf might be worth a try around 35.80
[11:47] {nemo} throw a stink bid and be ready to close it out
[11:48] {nemo} 50 day is down at 34.20
[11:48] {nemo} wich is the 50% retrace of this run
[11:48] {nemo} of course, the whole here is an option too
[11:49] {nemo} only problem, at lunch vwap could stop it
[12:04] {cc_8} Twitter Trading Platform Set to Launch
[12:04] {cc_8}  “Today, social media creates a vast amount of information and it has been proven that the sentiment derived from it can predict stock market movements. For the very first time, we are connecting this information source to the trading community, opening up the universe of social media data so traders can make more informed buying and selling decisions.”
01[12:04] {Threei}  lol
01[12:04] {Threei}  good luck
[12:04] {nemo} GIGO
[12:08] {dino} aap spike
[12:18] {nemo} mnst could be a nice short here
[12:20] {dino} f'ng aap wanted .40 short, missed it by .04, and it fell almost a buck
01[12:32] {Threei}  STT
[12:32] {thomcbell} rimm unreal today
01[12:32] {Threei}  let's see if we can get long near .40
[12:32] {nemo} has vwap support at .37
[12:32] {goryl} u mean .50 Vad?
[12:33] {nemo} no, that would be playing can be point man, it will be fun watching you get shot
[12:33] {goryl} ok:)
[12:34] {nemo} mnst if it stays below .55 should go to .16ish
[12:34] {nemo} pick your entry, I shorted at .58
[12:36] {thomcbell} vad rimm 12.86 break if holding 12.96?
[12:36] {nemo} .90 break
01[12:37] {Threei}  I like the idea
[12:37] {nemo} might be going for the gap though
01[12:37] {Threei}  ugh STT
[12:37] {nemo} rimm does crazy shit like that
01[12:37] {Threei}  look at the point of bounce
[12:37] {thomcbell} it is so strong it is acting like it wants the gap fill
01[12:37] {Threei}  exactly from .40, but no chance to enter
[12:37] {nemo} and goryl would have been shot at .50
[12:38] {thomcbell} invalidated
[12:38] {nemo} yeah, rimmm does crazy shit
01[12:38] {Threei}  DK...
01[12:38] {Threei}  too thin
01[12:39] {Threei}  29 break short looks tempting but untradebale stock
01[12:42] {Threei}  watch CAT
01[12:43] {Threei}  if pulls back under 95, recross is long
01[12:57] {Threei} Short Setup: STT  .50 break
01[12:57] {Threei}  If holds  .55
[13:04] {dino} zzzzzzzzzzzzzzzzzzzzzzzz
01[13:06] {Threei}  zzzzzzz, but something tells me we are going to see nice selling into eod
[13:06] {scottie} CAT ?
01[13:06] {Threei}  I of course tell this something to shut up
01[13:06] {Threei}  watching it scottie
01[13:07] {Threei} Long Setup:  CAT  95 break
01[13:07] {Threei}  If holds  .95
[13:23] {scottie} out
01[13:23] {Threei}  sigh
01[13:23] {Threei}  almost as if you better take 5 cent scalps
01[13:24] {Threei}  both would have worked for that but I really hnate this unless I trade 5K shares and more
01[13:27] {Threei} Short Setup: JCP  .20 break
01[13:27] {Threei}  If holds  .30
[13:32] {thomcbell} these are still low volume downmoves on rimm on 5 min chart
01[13:32] {Threei}  market suddenly strengthened
01[13:32] {Threei}  let's trail JCP to .26
01[13:34] {Threei}  oh good CAT, thanks for that
[13:36] {_jdetente} JCP...lame
01[13:37] {Threei}  second that
01[13:37] {Threei}  not liking this whole week actually
01[13:37] {Threei}  even though some days were fine, overall too random
[13:37] {thomcbell} my worst week in many months
[13:39] {dino} sh*t happens tbell. i struggled this week too. clean them out and start over monday
[13:41] {dino} i found i was too chicken on my entries on spikes/capits. left a lot of great opportunities on the table
[13:58] {thomcbell} yes
01[14:11] {Threei} Long Setup:  LVS  .50 break
01[14:11] {Threei}  ugh, late
01[14:11] {Threei}  wait for pullback
01[14:15] {Threei}  in
01[14:15] {Threei}  it's in fact an aggressive entry for .60 break
01[14:17] {Threei}  with 1:3 target
01[14:17] {Threei}  intended as a day fixer
01[14:17] {Threei}  and if it doesn't work, I'll cut my wrist with banana
[14:18] {nemo} wuss
01[14:18] {Threei}  OK... I'll cut nemo's wrist with banana
[14:18] {nemo} nice appeal to my ego
[14:18] {nemo} scares you I know you so well doesn't it?
01[14:19] {Threei}  rather encourages
01[14:19] {Threei}  means I have ways to improve
01[14:20] {Threei}  I mean, one needs even more formidable skills to cut wrists with persimmon
[14:20] {nemo} try it with a snail
[14:21] {nemo} this is like summer...don't bother trading on Monday's or Fridays
01[14:21] {Threei}  actually Monday was the best day of this week if I remember correctly
[14:22] {nemo} just shut up and go with it will ya'?
[14:26] {dino} lol
[14:34] {scottie} stop .44 ?
01[14:41] {Threei}  I think so
[14:48] {nemo} rimm is amazing today
[14:52] {dino} out mg +.02
01[14:53] {Threei}  1:1
01[14:53] {Threei}  no banana for nemo's wrist
[14:53] {dino} gotta hop early. r.e. closing. take care call
01[14:54] {Threei}  have a good weekend dino
[14:54] {dino} u2 buddies
[14:54] {scottie} dino
[15:02] {scottie} out .54, went to .60 tks Vad
01[15:02] {Threei}  yw... really had much more potential, this SPY dump kept it back
01[15:03] {Threei}  nice to plug some of the hole but hoped to fix the whole thingb
[15:20] {_jdetente} JCP pulled back about .40 after that big bounce
[15:22] {thomcbell} good weekend all
[15:22] {scottie} tbell
01[15:25] {Threei}  should be a long somehwre about here, watching
01[15:36] {Threei}  let's let it lose .20
01[15:36] {Threei}  and look for entry after that
01[15:40] {Threei} Long Setup:  JCP  .20 break
01[15:40] {Threei}  If holds  .15
01[15:54] {Threei}  (US) Senate Democrats in letter to President Obama ask him to consider any and all lawful actions to ensure the US does not default in the event Congress fails to raise the debt ceiling on time- Urges the President to take any legal action prevent US from defaulting and causing a global crisis, without Congressional approval if necessary. **Reminder: 1/9 the White housed reiterated President Obama has no intention of using the 14th amendment to increase the debt limit. White House has "no Plan B, no backup plan, no off-ramp" to circumvent Congress and raise the debt limit unilaterally. - On 01/07, Bipartisan Policy Center estimates Treasury's extraordinary measures on debt ceiling will run out by Feb 15 - March 1; earlier than many people had expected
01[15:54] {Threei}  come on JCP, time's running out
01[15:57] {Threei}  Ok guys, JCP is saved by the bell
01[15:58] {Threei}  questionable week... too much seesawing
01[15:58] {Threei}  have a great weekend, we will get them next week
[15:59] {_jdetente} have a good one everyone
[15:59] {scottie} see you monday