Wednesday, January 23, 2013

Jan 23 2012

Flat to slightly positive day, depending on which trades you got and missed. A few morning winners were a bit too fast for confident execution.

Session Time: Wed Jan 23 00:00:00 2013
[08:37] {KSystems} *yawn*
[08:38] {KSystems} coffee?
06[08:38] * KSystems slaps Threei around a bit with a large trout
01[08:53] {Threei}  sigh... who drinks coffee with fish??
01[08:53] {Threei}  those europeans...
[09:04] {cipher} gm
01[09:05] {Threei}  cipher :)
[09:12] {scottie} good morning
01[09:12] {Threei}  scottie :)
01[09:12] {Threei}  you OK?
[09:12] {dino} gm
[09:13] {scottie} yes, wife is back from hospital, should be ok now, tks for asking
01[09:13] {Threei}  dino :)
01[09:13] {Threei}  great to hear
[09:13] {scottie} now let's get them
06[09:15] * KSystems gets the trout pieces out of the coffee
[09:15] {KSystems} morning
06[09:16] * Threei gathers bits and peices of the fins and fish skin and pours them back in KS's coffee when he turns away
[09:18] {nemo} verdammten Deutscher
01[09:24] {Threei}  UK PM Cameron proposes referendum on UK remaining in EU by 2017
01[09:25] {Threei}  - PM Cameron gave his speech on UK relationship with Europe which started that he was not a British isolationist and wanted the UK to remain in EU as a committed and active member. He noted that going forward with more of the same is not an option; need fundamental change. PM Cameron confirmed that he was in favor of a simple in or out referendum on EU membership to be held in the first half of the next Parliament
[09:26] {KSystems} Yes nemo I love you too
[09:26] {ese} morning
[09:26] {jdetente} gm all
[09:26] {ese} jd
01[09:27] {Threei}  ese, jd :)
[09:27] {ese} mornin vad
[09:28] {ese} wheres will these days.......holidays
01[09:28] {Threei}  Maui
01[09:29] {Threei}  should be back in a week
[09:29] {ese} nice
01[09:29] {Threei} Long Setup:  FB  .10 break hl
01[09:30] {Threei}  If holds  31
[09:30] {cipher} CELG L .01
01[09:30] {Threei}  change to .05 break
[09:31] {cipher} out .27
01[09:31] {Threei}  half out
01[09:32] {Threei}  stop .04
01[09:32] {Threei} Short Setup: FCX  35 break
01[09:32] {Threei}  If holds  .10
[09:32] {nemo} just go long the indexes
01[09:33] {Threei}  on pullback, I will
[09:33] {cipher} iaci l .80
01[09:33] {Threei}  morning volatility needs to be worked out
[09:33] {goryl} fcx still valid?
01[09:33] {Threei}  yes
01[09:35] {Threei}  1:1, if you got it
01[09:35] {Threei}  1:2
01[09:36] {Threei} Long Setup:  CAT  .10 break hl
01[09:36] {Threei}  If holds  97
[09:36] {dino} coh hl l .25
[09:37] {dino} cybx hl l .90
01[09:38] {Threei}  1:1
[09:38] {nemo} I went in .04
[09:38] {scottie} jumped from .08 to .14 on my level 2
01[09:38] {Threei}  yeah
[09:38] {goryl} me too
01[09:38] {Threei}  nemo's aggressive was the only way to get it
[09:39] {nemo} I played the whole number as the bounce level
01[09:39] {Threei} Short Setup: FCX  35 break hl
[09:39] {dino} out coh .49, +.24
[09:39] {dino} stop cybx -.24
01[09:39] {Threei}  If holds  .05
[09:41] {dino} coh hl l .87
[09:42] {dino} no go
01[09:43] {Threei} Long Setup:  FB  .90 break
01[09:43] {Threei}  no go FCX
01[09:44] {Threei}  FB stop .84
[09:44] {ese} great just watching fb
[09:44] {dino} adding coh calls
01[09:44] {Threei}  out, not ready yet
[09:44] {nemo} got a hard stop cat under .14
[09:45] {nemo} pivot is .16
[09:46] {nemo} oh well
[09:46] {ese} L fb .90
[09:46] {nemo} too funny, I had just raised my stop from .08, should have kept it
01[09:46] {Threei}  ugh, rinse
[09:46] {ese} 1/2
01[09:47] {Threei}  or shouldn't have to try to be cute and put stop under .80
[09:47] {nemo} so funny, they came down to clear out the stops above the breakout, bastids
[09:47] {ese} .99
[09:47] {dino} cybx hl l .55
[09:47] {ese} nice full .09
[09:48] {nemo} frickin cat
[09:48] {ese} might be the first time i've been in FB
01[09:49] {Threei}  it trades well lately
[09:49] {ese} i'll say
[09:49] {thomcbell} it trades great
01[09:49] {Threei} Long Setup:  TNA  .40 break
01[09:49] {Threei}  If holds  .30
[09:50] {dino} cybx stop-.27
[09:50] {cipher} esrx l .75
[09:50] {dino} ttm hl l .55
01[09:51] {Threei}  target 1:3
[09:52] {dino} wow cybx drop
01[09:53] {Threei}  1:1
[09:53] {scottie} +.10 tks Vad
01[09:53] {Threei}  yw
01[09:54] {Threei}  shrap drop SPY
[09:54] {cipher} out esrx -.11
01[09:55] {Threei}  1:2
01[09:56] {Threei}  this is wierd divergence between SPY and TNA
[09:56] {nemo} yeah, but not unusual in a bull market in that smaller firms run
[09:56] {cc_8} Among companies with shares expected to actively trade in Wednesday’s session are Google Inc. (GOOG), Coach Inc. (COH) and Annie’s Inc. (BNNY).
[09:56] {nemo} watch finnies, they bottomed
01[09:56] {Threei}  think?
01[09:57] {Threei}  JPM still looks infirm
[09:57] {nemo} look fas, that's support TNA
01[09:57] {Threei}  although .20 break starts looking like entry
[09:58] {scottie} swy
01[09:58] {Threei}  FAS says yes, GS says not sure
01[09:58] {Threei}  CYBX dino
01[09:58] {Threei}  Cyberonics, Inc makes negative comments- Today, we present our highest conviction expose yet highlighting folly in the form of a significant valuation bubble. More importantly, we present -- with the help of a whistleblower -- very serious allegations of unscrupulous and potentially fraudulent activity on the part of Cyberonics
01[09:59] {Threei} Long Setup:  JPM  .20 break
01[09:59] {Threei}  SWY Strength attributed to news Metro Inc of Canda announces sale of halfs its stake in Alimentation Couche-Tard for CAD $479M
[09:59] {cipher} CYBX L .23
[09:59] {cipher} out cybx .57
01[10:00] {Threei}  (US) IMF updates World Economic Outlook (WEO) cuts global 2013 GDP growth forecast to 3.5% from +3.6% Oct view
[10:00] {cipher} iaci l .95
[10:01] {dino} ty 3i
01[10:01] {Threei}  sure thing
01[10:01] {Threei}  *(CA) BANK OF CANADA (BOC) LEAVES INTEREST RATES UNCHANGED AT 1.00%; AS EXPECTED- More muted inflation outlook - While some modest withdrawal of monetary policy stimulus will likely be required over time, consistent with achieving the 2 percent inflation target, the more muted inflation outlook and the beginnings of a more constructive evolution of imbalances in the household sector suggest that the timing of any such withdrawal is less imminent than previously anticipated - The economy will now hit full capacity only in the second half of 2014, not the end of 2013 as predicted in the October Monetary Policy
01[10:01] {Threei}  canadian dollar dropped hard on this
01[10:02] {Threei}  here is to its continuing drop
[10:02] {dino} lol
[10:02] {dptl} gm
[10:02] {ese} indeed
01[10:02] {Threei}  dp :)
[10:02] {ese} ddddddddddddddddppppppppppppppppppp!!!!!!!!
[10:03] {ese} that has to be a classic greeting by now
[10:03] {dptl} lol...Ese :)
01[10:03] {Threei}  Invalidated  JPM
[10:04] {dino} wtw trades heavy
[10:05] {ese} ahhhhhh ha!..........i get it
[10:06] {ese} sitting here looking at the trading pattern trying to figure out what dino is talking about
[10:06] {dino} :)
[10:06] {ese} and damn
[10:06] {ese} .......just noticed the name
01[10:06] {Threei}  lol
[10:06] {cc_8} One of the most popular ETFs launched in the past couple years is PowerShares S&P 500 Low Volatility Portfolio (NYSEArca: SPLV), and it's not hard to guess why.
[10:09] {nemo} wow, bummer getting stopped out of CAT
[10:09] {nemo} had the frickin' bottom
[10:11] {dino} bnny
01[10:11] {Threei}  *(EU) EURO ZONE JAN ADVANCED CONSUMER CONFIDENCE: -23.9 V -26.0E
[10:11] {nemo} and the market goes up
01[10:11] {Threei}  IMF's Blanchard: Optimisim is 'in the air'; considerable challenges remains
[10:12] {dptl} long pay .98
01[10:12] {Threei} Long Setup:  JCP  .10 break
01[10:12] {Threei}  If holds  19
[10:12] {nemo} take it above the whole
01[10:13] {Threei}  let me register the setup leaving it to you to decide between aggressive and regular
01[10:13] {Threei}  Invalidated
[10:14] {nemo} oh, was thinking jpm, although it still might work
[10:15] {dino} coh hl l .06 jumpy
01[10:15] {Threei} Short Setup: CAT  .50 break hl
[10:16] {cipher} AIRM l .75
01[10:16] {Threei}  If holds  .60
[10:16] {nemo} cipher and his dinoesque Rorschach stocks
[10:18] {dino} out coh .36, +.30
[10:18] {dptl} clf .60 short?
01[10:18] {Threei}  CAT should be good for 1:2, then bounce
[10:18] {nemo} should be able to ride that to 53ish
[10:19] {dino} dinoesque, lol
01[10:19] {Threei}  CLF, yes, hl
[10:19] {cc_8} Earnings: Abbott Labs, Amgen, Apple, Coach, General Dynamics, McDonald’s, Netflix, United Tech, US Airways and WellPoint, among others.
[10:19] {goryl} u taking it vad?
01[10:19] {Threei}  if CAT allows
[10:20] {nemo} cat bounce territory
01[10:20] {Threei}  1:1
[10:21] {scottie} +.09 tks Vad
01[10:21] {Threei}  yw
[10:22] {nemo} wow, spy down, iwm up, finnies down sheesh
01[10:22] {Threei}  too much "optimism in the air"
[10:22] {jdetente} +.12 ty!
[10:23] {dino} careful 07 red
01[10:23] {Threei}  yw
01[10:24] {Threei}  CAT 1:2, out
[10:25] {cipher} JBHT l .32
[10:27] {dptl} stopped clf
[10:30] {cipher} airm stopped -.14
[10:30] {cipher} jbht stopped -.05
[10:32] {dptl} vz .
[10:33] {dptl} .70 sh?
01[10:34] {Threei}  nah
01[10:34] {Threei}  rather bounce play
[10:34] {scottie} Isn't it an inverse C&H ?
01[10:36] {Threei}  it is, what makes me doubtful is the fact that it holds above its low while SPY makes new ones
[10:36] {scottie} tks
01[10:37] {Threei}  compare their respective charts,
01[10:37] {Threei}  you'll see relative strength
01[10:37] {Threei}  andf this kind tends to hold and bounce as soon as SPY tries to strengthen
01[10:38] {Threei}  worse yet, it can turn into trap, by dipping briefly under support, triggering your short and immediate;y recovering.
01[10:38] {Threei}  It'd tale a lot of new weakness in market to make this short work
01[10:38] {Threei}  not impossible, just low odds play
[10:38] {goryl} Vad, do u use RSI indicator?
01[10:39] {Threei}  no
[10:39] {scottie} AEP l .05 if holds 44 ?
01[10:39] {Threei}  I use "relative strength" term in its direct meaning, stock vs market
[10:39] {goryl} ok
01[10:40] {Threei}  AEP yes
01[10:40] {Threei}  salmon
[10:40] {goryl} u taking it?
01[10:40] {Threei}  yes, liking it
01[10:41] {Threei}  wow, did we cover CAT too soon
01[10:42] {Threei}  and when I say wow, I mean WOW
[10:44] {cipher} pdce l.62
[10:44] {dino} lol watching that too
[10:45] {cipher} cat l .90
01[10:45] {Threei}  AEP invalidated unfortunately
[10:46] {cipher} iaci to .48
[10:47] {scottie} FE l .35 if holds .25 ?
01[10:48] {Threei}  yup
[10:48] {goryl} u taking it?
01[10:48] {Threei}  yup
[10:51] {ese} am outta here cya tomorrow
01[10:51] {Threei}  take care exse
01[10:51] {Threei}  -x
[10:52] {nemo} -x?  on on Unix?
01[10:55] {Threei}  let's trail stop to .28
01[10:56] {Threei}  on FE that is
[10:59] {dptl} half out fe ty
01[10:59] {Threei}  1:1
[11:00] {dino} elli hl l .80
[11:00] {scottie} yw
[11:02] {cipher} alxn l .02
[11:03] {scottie} AEP rinse
[11:09] {dptl} can we move stop to under .40 fe?
[11:09] {cipher} out alxn .10
01[11:10] {Threei}  I'd prefer .37
[11:10] {dptl} ok
[11:10] {dptl} rht .20 long?
01[11:16] {Threei}  not delighted
01[11:16] {Threei}  no life in it
[11:17] {dptl} k
01[11:17] {Threei}  watching it for a few minutes, it's a jellyfish hanging from a flahpole in windless weather
[11:19] {dptl} out fe
[11:19] {scottie} out
[11:20] {jdetente} yup out FE
[11:26] {scottie} CAH l. .15 if holds .05 ?
01[11:26] {Threei}  yes
01[11:26] {Threei}  good looking setup
01[11:27] {Threei}  SPY is in the bounce zone too
[11:27] {scottie} in .16
[11:29] {dptl} stx .75 long?
01[11:30] {Threei}  hl
01[11:30] {Threei}  this one can be volatile
[11:34] {dino} wtw hl l .00
[11:37] {nemo} cat worth a try
[11:38] {nemo} wlp looks short
[11:41] {dino} out elli .32, +.52
[11:41] {scottie} great dino :)
[11:41] {nemo} covering cat some here
[11:42] {cipher} wtw l .69
[11:43] {dino} ty
[11:43] {nemo} got 50day and 200 day support in this area dino/cipher
[11:45] {dino} not loving it
[11:45] {nemo} no, me neither
[11:46] {nemo} cipher's entry better
[11:46] {dino} ttm thoughts nemo?
[11:46] {nemo} it drops this low, probably looking another buck down
[11:48] {nemo} at the 50 day that's major, but it's way below daily pivots it's at the whole, i'd want to see it build a bit of a base around here
[11:48] {dino} wtw stop
[11:48] {nemo} plus it's lunch, if you want to buy it, you can stay in the bid for now...I don't see anything at the moment
[11:48] {nemo} ttm that is
[11:48] {dino} ty
[11:49] {nemo} buy the whole but keep a tight stop, this could drop out easily
[11:50] {nemo} wtw, short  likel to 53.70ish, would like to see it test .60 again and then go short
[11:50] {cipher} WTW stopped -.19
[11:52] {dptl} out half stx
06[11:56] * Threei kicks CAH in the rear
[11:56] {dptl} out stx
[12:01] {dptl} infa .75 long?
01[12:02] {Threei}  can't tell, stalled
[12:02] {thomcbell} i like it
[12:08] {dptl} bhi?
01[12:09] {Threei}  breakout... lunch time...
[12:10] {dptl} oh ye :)
01[12:15] {Threei}  couple more cents, CAH
[12:16] {scottie} stop .09 ?
01[12:17] {Threei}  absolutely
01[12:17] {Threei}  chinese water torture
[12:19] {dptl} hfc .20 sh?
01[12:20] {Threei}  hl
01[12:20] {Threei}  bands tighntened
01[12:20] {Threei}  should make a move
01[12:20] {Threei}  and down is a tad more likely than up
01[12:20] {Threei}  although not enough for me to commit
[12:22] {dptl} ok ty
01[12:34] {Threei}  market's drifting aimlessly
01[12:36] {Threei}  Indiana law banning sex offenders from social networking sites is unconstitutional, federal appeals court finds
[12:38] {jdetente} they should have a requirement in the profile that a sex offender has to identify that they have been convicted of a sex crime and have that shown in their status
[12:38] {jdetente} just like a sex offender has to identify themself when moving into a new neighbourhood
01[12:40] {Threei}  they'll find it offending his sensitivities
01[12:41] {Threei}  and negatively influencing his complexity
[12:41] {jdetente} yeah it might hurt his self esteem *rolls eyes*
01[12:41] {Threei}  complexion, sorry
01[12:45] {Threei}  US labor unions saw sharp declines in membership in 2012; unionization rate hit lowest level since the 1930s
01[12:45] {Threei}  watch me crying
[12:46] {dino} ttm l .97
[12:53] {dino} mlnx spike
[12:56] {dino} damn, non avail
[12:57] {jdetente} goodbye CAH
[12:58] {scottie} out .06
[12:59] {scottie} gotta go now, bye everyone
01[13:01] {Threei}  take care scottie
01[13:07] {Threei} Long Setup:  CAT  .95
01[13:07] {Threei}  If holds  .85
[13:07] {dino} coh hl l .19
01[13:10] {Threei}  target 1:4
01[13:22] {Threei}  1:1
01[13:40] {Threei}  next push
01[13:41] {Threei}  note, CAT acts like salmon
[13:59] {dino} ioc drop
01[14:00] {Threei}  1:2
[14:04] {dino} ioc sm l .40
[14:22] {dino} hlf drop
[14:26] {dino} out ioc -.20
[14:27] {dino} out coh .43, +.24
01[14:32] {Threei} Short Setup: FB  .15 break
01[14:32] {Threei}  If holds  .25
[14:38] {dino} wow ioc
01[14:39] {Threei}  market spike, let's leep FB stop .21
[14:42] {dino} ioc hl l .33 gappy
[14:54] {dino} alxn drop
[14:56] {nemo} aapl ripping mammaries
01[15:15] {Threei}  frikin FB
01[15:15] {Threei}  rinsed
[15:18] {jdetente} ah shoot
01[15:20] {Threei}  grrr
[15:22] {jdetente} you know it feels like a big gap down is coming one of these days for the SPY
01[15:22] {Threei}  when it's the least expected
[15:22] {jdetente} time to buy puts !
[15:22] {jdetente} :)
01[15:23] {Threei}  well, this I don't know... "when it's the least expected" by definition means I don't know when to expect it :)
01[15:23] {Threei}  trend can carry on longer than you can stay solvent
[15:25] {jdetente} true
01[15:27] {Threei} Short Setup: FCX  35 break
01[15:28] {Threei}  stop is .11 for now but will trail it soon
[15:32] {dino} out ioc .73, +1.40
01[15:33] {Threei}  wtg
[15:33] {dino} ty
[15:36] {dino} wow, way too soon
01[15:37] {Threei} Short Setup: FB  31 break
[15:42] {jdetente} that was a quick break on FB
01[15:48] {Threei}  FCX stop to .03
01[15:48] {Threei}  time becomes an issue
01[15:49] {Threei}  cover half FB
01[15:49] {Threei}  and trail to .02
01[15:52] {Threei}  cover half FCX
01[15:52] {Threei}  and trail to .01
01[15:55] {Threei}  1/4 more FB
01[15:57] {Threei}  close FCX
01[15:58] {Threei}  ok
01[15:58] {Threei}  out FB
01[15:59] {Threei}  thank you all, have a good evening
01[15:59] {Threei}  see you tomorrow
[16:01] {thomcbell} good night al
[16:01] {thomcbell} l