Tuesday, January 22, 2013

Jan 22 2013

Catch(es) of the day: two trades on CAT. First is bounce setup, catching pullback for a long entry. Second is clean ascending triangle with nice juicy 1:3 target 

Other than that, nicely profitable day even though afternoon is traditionally inactive.

Session Time: Tue Jan 22 00:00:00 2013
[09:12] {goryl} gm
01[09:12] {Threei}  morning goryl
[09:12] {nemo} I'm leaving
01[09:12] {Threei}  already?
01[09:13] {Threei}  mr sensitive
[09:13] {nemo} I have to puke
[09:16] {cc_8} Earnings:: AMD, CA, CSX, Delta Air, DuPont, Google, IBM, J&J, Kansas City Southern, Norfolk Southern, Travelers and Verizon are among several companies scheduled to report quarterly results.
03[09:22] * Retrieving #discussions modes...
[09:25] {dino} gm
01[09:26] {Threei}  dino :)
[09:26] {ese} morning
01[09:27] {Threei}  ese :)
[09:27] {ese} semester ends this thursday........hopefully back to normal on the board by friday or monday......
[09:27] {ese} for me
[09:30] {jdetente} gm
01[09:30] {Threei}  jd :)
[09:30] {ese} jd
[09:31] {nemo} and the beat goes on
01[09:32] {Threei} Short Setup: FCX  .10 break hl
01[09:32] {Threei}  If holds  .20
[09:32] {nemo} cat interesting
[09:32] {nemo} gap to fill
01[09:33] {Threei} Short Setup: FB  .95 break
01[09:33] {Threei}  If holds  .05
01[09:34] {Threei}  no go
[09:34] {nemo} watching infy, want it to bounce and then short again
01[09:34] {Threei}  Invalidated  FCX
01[09:37] {Threei} Short Setup: FB  .20 break
01[09:37] {Threei}  If holds  .25
[09:38] {nemo} is the market trading
01[09:38] {Threei}  tighter stop and closer to the reversal
01[09:40] {Threei}  1:1
[09:42] {dino} omg hl s .99
[09:43] {dino} bstop is .16
01[09:45] {Threei} Long Setup:  CAT  .60 break hl
01[09:45] {Threei}  If holds  .50
01[09:45] {Threei}  yeah right
01[09:45] {Threei}  lol
[09:45] {dptl} gm
01[09:45] {Threei}  dp :)
[09:47] {dino} htsi hl s .49
[09:47] {dino} bstop .76
[09:48] {dino} stopped
01[09:49] {Threei}  ugh CAT, did you have to jump this fast?
[09:49] {dino} omg stop
[09:50] {dptl} wnr .30 short?
01[09:50] {Threei} Short Setup: BA  .85 break
01[09:50] {Threei}  If holds  .95
[09:50] {nemo} .22 range in spy
01[09:53] {Threei}  no go
01[09:54] {Threei}  frikin CAT
[09:54] {nemo} going to gap
01[09:55] {Threei}  watching LVS for pullback long entry
[09:55] {ese} i think that about cats in general as well
[09:57] {nemo} fcx likely headed to 35, then 35.40ish
01[09:58] {Threei} Long Setup:  LVS  .50 break
[09:58] {thomcbell} fcx looking to buy a pullback - nice report and there was very low sentiment into the number based on that friday close
01[09:59] {Threei}  If holds  .40
[09:59] {dptl} half out wnr
01[10:00] {Threei}  *(US) DEC EXISTING HOME SALES: 4.95M V 5.10ME
[10:00] {nemo} mmmhhh, let's see how the market handles bad news
[10:01] {nemo} joy looks weak
[10:01] {dino} last try omg hl s .19
01[10:04] {Threei}  change LVS to .45 break
01[10:04] {Threei}  If holds  .35
[10:06] {dino} cov omg .89, +.30
01[10:07] {Threei}  finally :)
01[10:07] {Threei}  LVS target 1:2
[10:07] {thomcbell} rimm - is unreal
[10:08] {nemo} lotta' hopium in that stock
01[10:08] {Threei}  yeah... to me, it's a zombie
[10:09] {dino} amri drop
[10:09] {dino} hl l .27
[10:11] {dino} stop flat
[10:12] {dptl} 1:2 wnr out more
01[10:13] {Threei}  stop to .39
[10:13] {nemo} oopie doopie we have fun
[10:16] {jdetente} LVS is messing with us :)
[10:16] {nemo} market is unsure
[10:18] {nemo} looks like bounce coming
[10:23] {cc_8} Among companies with shares expected to trade actively in Tuesday’s session are Arena Pharmaceuticals Inc. (ARNA) Research in Motion Ltd. (RIMM, RIM.T) and Caterpillar Inc. (CAT).
[10:24] {nemo} not alot on the persistance algo I watch
[10:24] {dino} ntct hl l .15
01[10:25] {Threei} Short Setup: CAT  .40 break hl
01[10:25] {Threei}  If holds  .50
[10:25] {dino} clc hl l .95
01[10:27] {Threei}  ok LVS
01[10:27] {Threei}  you are ready
01[10:27] {Threei}  move your butt
[10:27] {nemo} if cat invalidates look to short in .60 area again
01[10:28] {Threei}  SPY drops
01[10:28] {Threei}  should trigger CAT for us
01[10:29] {Threei}  target 1:2
01[10:31] {Threei}  1:1
[10:31] {nemo} cof similar setup
[10:32] {dptl} out cat ty
01[10:32] {Threei}  yw
[10:32] {dptl} out wnr 1:3
01[10:33] {Threei}  wtg
[10:33] {dptl} ty
[10:37] {nemo} finnies and iwm basically at vwap, spy not near, might be worth a shot for a run to .25ish
[10:41] {jdetente} LVS behaving now
01[10:42] {Threei}  as it should
[10:43] {nemo} I'd partial spy trade here, but should have another .05 in it
[10:44] {dptl} stt 55 long?
[10:45] {ese} cya tomorrow.........one of them just watchin days to pssssssych yourself ack into it
[10:45] {ese} back
[10:45] {ese} cya
01[10:50] {Threei}  take care ese
01[10:50] {Threei}  yes
01[10:51] {Threei}  LVS exceeded target a bit
01[10:51] {Threei}  STT works too
[10:51] {dptl} missed it
01[10:51] {Threei}  yeah, broke too fast
[10:51] {jdetente} got 1:2 on LVS. Ty!
01[10:51] {Threei}  yw
[10:52] {dptl} too fast my laser stopped working for a few swc
[10:52] {dptl} sec
[10:52] {dptl} stopped working again
[10:53] {dptl} is yours ok?
01[10:53] {Threei}  yes
01[10:53] {Threei}  switch server
[10:54] {dptl} did
[10:55] {dptl} oh works now
01[10:56] {Threei} Long Setup:  CAT  .30 break hl
01[10:56] {Threei}  If holds  .20
[10:58] {dptl} sigh missed that too
[10:59] {dptl} something with my quotes here not stable
01[11:02] {Threei}  1:1
01[11:03] {Threei}  1:2, out
01[11:04] {Threei}  it gave you second chance, dp
[11:04] {jdetente} nice ty!
01[11:04] {Threei}  yw
[11:04] {dptl} had to restart
[11:04] {dptl} laser
[11:05] {dino} clc stop -.18
01[11:06] {Threei}  let's wait a few min to see what SPY does here, uncertain moment
01[11:06] {Threei}  meanwhile have a look at two sets I worked on during the weekend
01[11:07] {Threei}  http://photography.realitytrader.com/2013/01/another-amazing-sunset-at-breakwater.html
01[11:07] {Threei}  http://photography.realitytrader.com/2013/01/hawaii-active-volcano-3.html
[11:08] {dptl} wow....nice :)
[11:09] {dptl} sunsets are amazing
01[11:09] {Threei}  volcanos are too
[11:09] {jdetente} The Holei Sea Arch... that is awesome
01[11:10] {Threei}  majestic view
[11:10] {dptl} ye...see that
[11:10] {jdetente} It's like the Azure Window's(Malta) twin...
01[11:11] {Threei} Long Setup:  CAT  .50 break
01[11:11] {Threei}  If holds  .40
01[11:12] {Threei}  the weirdest feeling was to climb the lava towering about 6 ft over that same road I used to drive in the previous visit
01[11:15] {Threei}  wow LVS
01[11:18] {Threei}  CAT is valid
[11:19] {dptl} cnx .95 long?
01[11:20] {Threei}  yes
01[11:22] {Threei}  Few traders seem to be looking to push stocks higher with markets right around five-year highs and Apple's fraught earnings report due on Wednesday after the close.
01[11:23] {Threei}  CAT, aiming for 1:3 on this one
01[11:27] {Threei}  CAT 1:1
[11:28] {dptl} out cnx +.05 had step out for half an hour
[11:31] {nemo} had to step away but spy worked out nicely
[11:33] {dino} cybx hl l .35
01[11:38] {Threei}  here kitty kitty
01[11:39] {Threei}  1:2
01[11:39] {Threei}  CNX 1:1
01[11:41] {Threei}  1:3, over and out
[11:41] {jdetente} CAT magic, ty
01[11:41] {Threei}  adjusting to the slow climb type of market
01[11:49] {Threei}  visual http://goo.gl/HvYdK
[11:52] {nemo} fas
[11:52] {nemo} sorry
[11:58] {dino} out ntct .39, +.24
01[12:07] {Threei}  done with CNX
01[12:18] {Threei}  we need some new fight in Congress
01[12:18] {Threei}  to ignite market turbulence
[12:18] {nemo} jeez...spy trded worked real well
01[12:18] {Threei}  hmmm
01[12:18] {Threei}  pit the bottle down and try again?
01[12:18] {Threei}  put
[12:20] {dptl} back
[12:21] {dptl} nice cnx
[12:21] {nemo} sina
[12:21] {nemo} sorry
01[12:27] {Threei}  CAT is not following SPY anymore
01[12:27] {Threei}  let's try hl short
01[12:27] {Threei} Short Setup: CAT  .70 break hl
[12:30] {nemo} watch for bounce .62
01[12:30] {Threei}  1:1
[12:31] {dptl} stt .50 long?
[12:31] {dptl} late
[12:31] {dptl} and what about duk .25 long?
01[12:33] {Threei}  no, abandoning breakouts
[12:34] {nemo} o.k. bounced at .60
01[12:35] {Threei}  crap, hesitated too long about LVS short at .50
[12:35] {nemo} http://twitchy.com/2013/01/22/pics-empty-shelves-at-ammo-retailers-as-obama-starts-second-term-i-cant-find-ammo-anywhere/?utm_source=autotweet&utm_medium=twitter&utm_campaign=twitter
[12:36] {nemo} we just went through the monthly R3 on IWM
01[12:36] {Threei}  DUK is actually a short on .20 break
[12:37] {jdetente} are you taking it?
[12:37] {dptl} stz .85 long?
[12:37] {dptl} oops
[12:37] {dptl} went to .90 before i typed
01[12:38] {Threei}  DUK, if stays under .25, yes
01[12:40] {Threei}  argh LVS
01[12:40] {Threei}  what a perfect kangaroo tail
[12:45] {nemo} we're getting 2012 all over again
[12:53] {dptl} coh .50 short?
01[12:53] {Threei}  yes
01[12:54] {Threei}  hl
01[12:55] {Threei}  will; be invalidated over .60
[12:55] {dptl} yep
01[12:55] {Threei}  leave it be, no setup
[12:56] {dptl} duk just a scalp i think?
01[12:56] {Threei}  I am so flattered by your assumption that I think...
01[12:57] {Threei}  hard to tell... let's cover 2/3 near .10, then see what happens
01[12:57] {Threei}  stop is ridiculously tight, just 6 cents
[12:58] {dptl} k
[13:09] {cipher} hey guys...
[13:09] {cipher} had some errands to do
01[13:09] {Threei}  cipher :)
01[13:09] {Threei}  missed nice day
[13:09] {cipher} how is the day going?
[13:09] {cipher} omg
[13:09] {cipher} I knew it :(
01[13:09] {Threei}  couple stops, and a lot of nice juicy plays, CAT was very good to us
01[13:10] {Threei}  LVS too
[13:10] {cipher} that's ok I'll get them tomorrow
01[13:10] {Threei}  certainly
01[13:19] {Threei} Long Setup:  RIG  .85 break
01[13:19] {Threei}  If holds  .80
01[13:19] {Threei}  hl
01[13:22] {Threei}  things slowed to a crawl
01[13:25] {Threei}  die already DUK
[13:25] {dptl} ye really
[13:26] {dptl} i'll move stop to .17
01[13:27] {Threei}  hmmm
01[13:27] {Threei}  why not .21?
01[13:27] {Threei}  anyway, 1:1, let's cover part here
01[13:27] {Threei}  2.3 as we discussed
01[13:27] {Threei}  2/3
[13:28] {dptl} ye
[13:33] {dptl} fslr DT ?
01[13:34] {Threei}  .40 break would be a short trigger, if stays under .50
01[13:34] {Threei}  make it hl
01[13:35] {Threei}  volatile stock
01[13:37] {Threei}  trail now DUK to that .17
01[13:40] {Threei}  FSLR, covered any at 1:1?
[13:43] {dptl} ah...no..out flat...don't ask :) small sh
01[13:44] {Threei}  OK, I won't ask, but why??? :)
[13:45] {dptl} had .26 bid was waiting there and ...its bounced back...greed took over me ..lol
01[13:46] {Threei}  here is your problem: you are trying to be creative
01[13:46] {Threei}  to think
01[13:46] {Threei}  to design each trade individually
[13:50] {dptl} you right sometimes it happens to me, and what interesting, i happens all of a sdn, so by the time i realising that it's usually to late....but working on it
[13:50] {dino} out cybx .67, +.32
[13:57] {dptl} wow look at that cnx..lol..where did we got in?
[13:58] {dptl} .95
01[13:59] {Threei}  yes
01[13:59] {Threei}  and exited at .25
01[13:59] {Threei}  and it laughed at us ever since
[14:00] {dptl} ye too bad i had to leave then
[14:02] {dino} lmca?
01[14:03] {Threei}  increased stake in SIRI, Jan 22 news
01[14:04] {Threei}  don't see anything else
[14:04] {dptl} gmcr .10 short?
01[14:04] {Threei}  RGR Hearing weakness attributed to reports of shooting at college in Texas
01[14:05] {Threei}  with .16 stop... sure
[14:11] {dptl} still valid
[14:22] {dptl} half out gmcr stop to .11 (no thinking :)
[14:24] {dino} gj
[14:24] {dptl} ty
[14:25] {dptl} 1:2 all out
01[14:31] {Threei}  :)
[14:33] {dptl} duk is annoying
[14:40] {dptl} cog long?
01[14:44] {Threei}  not sure
01[14:44] {Threei}  not delighted
[14:48] {nemo} we should just go long, come back in May sell, go to the beach, and then see what happens
01[14:48] {Threei}  bad idea
01[14:49] {Threei}  debt ceiling thing will shake you out of your longs
[14:49] {nemo} no, that's dead and gone
01[14:49] {Threei}  not at all
[14:50] {nemo} republicans have zero leverage
01[14:50] {Threei}  only postponed
[14:50] {nemo} and they will continue to postpone, they have no political leverage
01[14:50] {Threei}  so what?
01[14:50] {Threei}  doesn't mean they can't make a spectacle out of it which will shake the market
01[14:52] {Threei}  look at December
01[14:52] {Threei}  they had even less leverage with fiscal cliff
01[14:53] {Threei}  yet sent SPY full 5 dollars down
[14:53] {nemo} yeah, but that was it, they won't mess with it anymore, there's no political advantage...fight is over
[15:02] {dptl} cov .25 short?
01[15:03] {Threei}  i think so
[15:03] {dptl} hmm
[15:19] {dino} last 2 weeks, this market is not my style
[15:19] {dptl} got to leave early...see ya tomorrow all have a dood evening
[15:19] {dino} no spikes, no capits. unbelievable
[15:19] {dino} i sit for hours doing nothing
01[15:19] {Threei}  remember Han of 2012? same thing
01[15:19] {Threei}  Han
01[15:19] {Threei}  Jan
[15:19] {dptl} good evening lol
01[15:30] {Threei} Long Setup:  GS  146 break small shares
01[15:30] {Threei}  If holds  .85
[15:31] {nemo} There are less structural worries now so volatility disappearing...this condition will likely last longer than last year
01[15:32] {Threei}  I don't npw... there is too much complacency in the air
01[15:32] {Threei}  this is when unforeseen shocks become more likely
01[15:32] {Threei}  and when they occur, you better pray you are a day trader and have no positions
[15:34] {nemo} pru interesting
[15:35] {dino} i don't know what to make of it. just know it doesn't fit my style
01[15:35] {Threei}  right
[15:35] {nemo} if you're specialty is volatility plays, you will be bored for a while
01[15:35] {Threei}  what I am saying is, I don't think it will last any monger than it did last year
01[15:35] {Threei}  longer
[15:36] {nemo} there is no longer the unsurety of the 2007-2012 period.
01[15:36] {Threei}  we are not talking unsurety
01[15:36] {Threei}  we are talking absense of volatilioty
01[15:36] {Threei}  and you can't say we had none during these 5 years
[15:37] {nemo} market doesn't have the instability of the last 5 years
01[15:37] {Threei}  OK
01[15:37] {Threei}  you think everything is so stable, you can take second mortgage on everything you own and invest? try it, I dare you :)
01[15:38] {Threei}  GS 1:1
[15:42] {jdetente} shorting the VXX lately has almost been free money. I'm sure that will end when least expected
01[15:44] {Threei}  this is exactly my point
01[15:44] {Threei}  crowd gets complacent
[15:45] {dino} gut feels that
[15:45] {dino} something not right
01[15:45] {Threei}  we all know what happens is merely windows draping
01[15:45] {Threei}  can kicking
01[15:45] {Threei}  etc
01[15:45] {Threei}  this kind of things does unravel
01[15:46] {Threei}  it's being held together by duct tape
01[15:46] {Threei}  not that we can know when it unravels
01[15:46] {Threei}  but unravel it will
[15:46] {dino} sort of ken fischer "what do you believe that isn't true?"
01[15:46] {Threei}  :)
01[15:47] {Threei}  think of it this way: PTB spent enourmous amount of money, effort, political capital and credibility to hold the thing afloat,
01[15:47] {Threei}  and the more it invests the thinner it stretchesd
01[15:47] {Threei}  and the closer the end, just like with any pendulum push
[15:48] {dino} ptb?
01[15:48] {Threei}  powers that be :)
[15:48] {dino} ahhh, sort of like the ppt
01[15:49] {Threei}  pretty much, only on a scale of the world's economy
01[15:49] {Threei}  where the next hole is going to be punched, we don't knwo - and neither do they
01[15:50] {Threei}  they work as firemen, putting out fires here and there
01[15:50] {Threei}  meanwhile whole forest is smoldering
01[15:52] {Threei}  the only way they can keep it afloat for a long time is to move to dictatorship, and if that happens - we have more problems than market volatility :)
[15:53] {KSystems} Boo
01[15:53] {Threei}  hey KS!
[15:53] {KSystems} :)
01[15:54] {Threei}  Ok guys, thank you all
01[15:54] {Threei}  have a good evening, see you tomorrow
[15:54] {KSystems} you had a good day?
01[15:54] {Threei}  pretty much
[15:55] {dino} gn all