Wednesday, February 20, 2013

Feb 20 2013

(Course on chart pattern recognition is available now:  

Perfect continuation of our winning streak, even though market behavior changed rather drastically. nailed the direction just right, got quite a few winning trades on a short side plus a few bounce scalps.

Session Time: Wed Feb 20 00:00:00 2013
[08:45] {nemo} I'm feeling ignored
[08:46] {thomcbell} YO
[08:46] {nemo} mmmhhhh....that makes me feel worse...nevermind
[08:52] {dino} gm
01[08:53] {Threei}  dino :)
[09:06] {jdetente} gm
01[09:07] {Threei}  jd :)
[09:08] {scottie} good morning
01[09:08] {Threei}  scottie :)
[09:09] {patel} good morning
01[09:10] {Threei}  patel :)
[09:11] {dino} mco, mhp sudden drops
[09:11] {cipher} gm
01[09:11] {Threei}  cipher :)
[09:17] {Will49} good morning
[09:18] {thomcbell} takeover chatter on joy
[09:18] {thomcbell} bbry testing its 50 here after canaccord negative comment
01[09:19] {Threei}  will, tbell :)
01[09:20] {Threei}  gold can't catch a break eh?
[09:24] {patel} Today should be another slow climb tight sideways day.
[09:24] {nemo} wow...going out on a limb there
[09:28] {dptl} gm
01[09:29] {Threei}  dp :)
[09:32] {cipher} tsla l .62
[09:32] {cipher} out .98 +.36
01[09:33] {Threei} Short Setup: GDX  .75 break
01[09:34] {Threei}  If holds  .85
01[09:35] {Threei} Short Setup: FCX  .95 break hl
01[09:35] {Threei}  If holds  .05
[09:35] {cipher} spwr l .00
[09:36] {cipher} out .90 -.10
[09:36] {cipher} fslr l .78
01[09:37] {Threei}  FCX 1:1
[09:37] {cipher} out .65 -.13
01[09:38] {Threei}  GDX stop to .81
01[09:40] {Threei}  FCX 1:2, out
01[09:40] {Threei}  1:3... grrr
[09:40] {jdetente} dang too early
01[09:40] {Threei}  I mean 1:4
[09:40] {cipher} ctrp l .08
01[09:41] {Threei}  let's close GDXC
01[09:41] {Threei}  GDX
[09:43] {dino} partial fill l for .55
[09:44] {cipher} out ctrp .28 +.20
[09:45] {cipher} mktx l .00
01[09:45] {Threei} Short Setup: SLW  .80 break
01[09:46] {Threei}  If holds  .90
[09:46] {patel} jumped my entry
[09:46] {cipher} out mktx .88 -.12
[09:46] {scottie} too fast
[09:47] {Will49} missed
01[09:47] {Threei}  hah... look at GDX
01[09:47] {Threei}  does this thing move in inverse relation with SPY?
01[09:47] {Threei}  SLW 1:1 if anyone got it
[09:47] {jdetente} no fill
[09:48] {dino} out for flat
[09:49] {cipher} mktx l .00
01[09:50] {Threei} Long Setup:  LVS  .05 break hl
[09:51] {dino} vntv sm l .10 gappy, wide
[09:53] {cipher} out mktx .90 -.10
01[09:53] {Threei}  Invalidated
01[09:54] {Threei}  was two-sided eh
[09:54] {jdetente} stinkin' SLW....
[09:55] {jdetente} that was a good one if anyone got it
01[09:56] {Threei} Long Setup:  CAT  .40 break hl
[09:56] {cipher} vsat l .31
01[09:56] {Threei}  If holds  .30
01[09:56] {Threei}  ugh LVS
[09:57] {dino} out vntv .70, +.60
[09:57] {scottie} fast again
[09:57] {Will49} likewise
[09:57] {jdetente} jeepers\
[09:58] {thomcbell} long setup rrc thru 71.15 half lot
[09:59] {patel} missed it.
[09:59] {patel} this sucks
[09:59] {dino} lad
01[09:59] {Threei} Short Setup: LVS  .60 break
01[10:00] {Threei}  hl
[10:00] {cipher} mktx l .53
01[10:01] {Threei}  (US) S&P Reports On Exceptional Accounting Items- Companies that report underlying earnings figures under International Financial Reporting Standards (IFRS) can misrepresent their past and future earnings when they separate out exceptional items, says a report published by Standard & Poor's Ratings Services. Titled "How Exceptional Accounting Items Can Create Misleading Earnings Metrics," the report argues that scrutinizing exceptional items can give a clearer view of a company's financial performance.
01[10:01] {Threei}  heh
[10:02] {jdetente} there's 1:1
[10:02] {dptl} ?
[10:02] {jdetente} sorry I took an aggressive entry
[10:02] {jdetente} got 1:1 on my entry
[10:03] {dino} mon drop
01[10:03] {Threei} Long Setup:  CAT  .40 break hl
01[10:03] {Threei}  If holds  .30
01[10:04] {Threei}  LVS stop .66
[10:05] {cipher} out mktx .00 +.47
01[10:05] {Threei}  no go
[10:05] {dptl} maan... out .73...jumpy thing
01[10:05] {Threei}  that's whny half lot
[10:06] {cipher} dino did you play MON?
[10:06] {dino} lad sm l .75
[10:07] {dino} out lad .30, +.55
[10:07] {cipher} wtg
[10:07] {dino} ty
[10:09] {dino} cipher, mon? no, lad took over, missed mon
[10:09] {cipher} I missed it too
[10:10] {cipher} didn't have the guts
[10:10] {cipher} looked whacked out
[10:10] {dino} thought it would go for 96 area gap
[10:10] {dino} see what happens when i think
[10:10] {cipher} I know brotha
[10:10] {dptl} DHI .70 short?
01[10:11] {Threei}  20 cents reange?
[10:11] {cipher} panl l .13
[10:12] {cipher} snfca l .29
[10:13] {scottie} out +.10 tks Vad
01[10:13] {Threei}  CAT 1:1
[10:15] {cipher} out panl .32 +.19
[10:16] {cipher} out vsat .49 +.18
[10:17] {dino} gj
[10:17] {cipher} snfca stop .22 -.07
[10:18] {dptl} COH .70 short?
01[10:18] {Threei}  CAT 1:2, out
[10:18] {Will49} Tks Vad
01[10:18] {Threei}  yw
01[10:19] {Threei}  COH, hl
01[10:23] {Threei}  wow CAT
01[10:23] {Threei}  talk about too soon
[10:25] {dino} sah partial l .45
[10:26] {dptl} still valid coh i think
[10:27] {dptl} nah
01[10:28] {Threei} Short Setup: SLW  33 break
01[10:28] {Threei}  If holds  .10
[10:30] {thomcbell} rrc 1:1
[10:31] {patel} UPS short under .45??
01[10:31] {Threei}  not too delighted
01[10:32] {Threei}  on a narrow side
[10:37] {dino} stop sah -.10 .35
[10:44] {scottie} FCX s 33 ?
[10:45] {nemo} S3 is .82
[10:46] {scottie} tks
01[10:50] {Threei}  frikin SLW
01[10:50] {Threei}  got away
[10:51] {dino} trn sm l .40 stop lod
01[11:03] {Threei}  how about that "another slow creep-up day"? :)
01[11:04] {Threei}  can you believe SLW?
01[11:04] {Threei}  FCX worked nicely too
[11:05] {Will49} yes, tks scottie +.11
[11:05] {scottie} good for you will, I didn't take it
[11:05] {Will49} small scalp
[11:06] {Will49} if Vad had sanctioned it, would have gone full load :)
[11:06] {Will49} kidding scottie
[11:06] {scottie} lol
[11:06] {scottie} me too :)
01[11:06] {Threei}  gosh, I just was away from computer for two min... :)
03[11:06] * Retrieving #discussions modes...
[11:06] {scottie} diapers Vad, diapers...
[11:07] {Will49} lol
01[11:08] {Threei}  I keep the stock for the day when I decide my life is too boring ad trade GOOG and AAPL all day
[11:08] {scottie} lol
[11:09] {Will49} :)
[11:15] {dino} arii sm l .49
01[11:26] {Threei}  we have FOMC minutes today btw
[11:26] {dptl} PAY .20 long?
[11:27] {dino} crus drop
01[11:27] {Threei}  can't tell on PAY
[11:27] {dptl} k
01[11:27] {Threei}  no determintion
01[11:28] {Threei}  (US) Market rumors circulating this morning that a commodities hedge fund is "blowing up" - financial press**Note: The chatter has been vague so far, with no names be suggested
[11:31] {dino} crus sm l .01
[11:31] {Will49} *&^%%% charts gone again
[11:32] {dptl} yeah something is there...everyday charts problems lately
[11:35] {Will49} use laser version 5 or 6?
[11:35] {dptl} old one 5.4.371
[11:36] {Will49} same here
[11:37] {Will49} anyone using version 6 and still have charts?
01[11:38] {Threei}  I use 5 and still have them
[11:38] {Will49} strange
[11:40] {dptl} yeah mine just gone
[11:41] {Will49} mine are back!
[11:42] {Will49} could it be Shaw throttling data flow?
[11:44] {dptl} no
[11:44] {dptl} dont think so
01[11:44] {Threei}  I am on shaw
[11:44] {dptl} something with soft
[11:45] {dino} aapl vsm l .60 wide
[11:45] {dptl} Vad you dont have gup on charts now?
[11:45] {dptl} gap
01[11:45] {Threei}  now I do
[11:45] {dptl} there
01[11:45] {Threei}  pattern is:
01[11:45] {Threei}  my charts wortk fine when you guys start complaining,
01[11:46] {Threei}  "command center" reserts server,
01[11:46] {Threei}  your charts are back,
01[11:46] {Threei}  mine are out,
01[11:46] {Threei}  I change server andf get gaps which I hadn't had before.
01[11:46] {Threei}  so it's all your fault as far as I am concerned
[11:47] {dptl} yes thats what is going on lataly
[11:47] {dptl} lol
[11:47] {scottie} MDT s .70 ?
01[11:47] {Threei}  I think so
01[11:48] {Threei}  with this gap in chart these folks caused it's harder for me to tell, lol
[11:48] {dptl} use freestockcharts
01[11:48] {Threei} Short Setup: PAY  32 break
[11:50] {scottie} stop .
[11:50] {scottie} 07 ?
01[11:51] {Threei}  according to my charts crippled by dp... yes :)
[11:51] {scottie} stop that dp will ya
[11:51] {dptl} scottie you use laser too?
[11:52] {scottie} no, back to DDplus
[11:52] {dptl} i see
[11:54] {dptl} is that disnat?
[11:54] {scottie} yes
[11:59] {dino} cste drop
[12:04] {Will49} what time do FOMC minutes come out?
01[12:04] {Threei}  2
[12:04] {jdetente} 2 Eastern
[12:04] {Will49} tks
01[12:04] {Threei}  PAY 1:1
[12:07] {nemo} DAS Trader is having problems with it's quote systems too...frickin' chinese hackers
[12:13] {dptl} MPC .80 short?
01[12:14] {Threei}  even hl is a bit too much
[12:15] {dptl} stopped... half lot
01[12:15] {Threei}  sigh
01[12:16] {Threei}  do you even look at level 2?
[12:16] {dptl} ye thats why half
01[12:16] {Threei}  look what I said
01[12:17] {Threei}  first sentence of e-mail that is sure to make it take it seriously:
01[12:17] {Threei}  Hello,
01[12:17] {Threei}  I wish to inform you that this letter is not a hoax mail and I urge you to treat it serious.
[12:17] {dptl}  ye..but i  was already in
01[12:17] {Threei}  that's why I aske, do you even look at level 2
01[12:17] {Threei}  the gaps between levels, the sizes
01[12:18] {Threei}  that was a stock for 200 shares
01[12:18] {Threei}  maybe 3
01[12:18] {Threei}  unless you are dino
[12:19] {dino} hey!
01[12:19] {Threei}  yes sir?
[12:19] {dino} out aapl .50, +.90
[12:21] {dino} crusto b/e
[12:23] {dino} out arii .12, +.63
[12:30] {dptl} DD short?
01[12:30] {Threei}  nah
[13:02] {thomcbell} short setup CAT - 94.03 break if holding 94.13
[13:07] {thomcbell} cat no go
01[13:30] {Threei} Short Setup: GLD  .80 break hl
01[13:31] {Threei}  If holds  .85
01[13:32] {Threei}  Invalidated
[13:46] {dptl} BHI .30 short?
[13:47] {dptl} also CLF .30 sh?
[13:48] {dptl} clf not available
[13:48] {patel} be careful FOMC minutes are a few minutes away
01[13:48] {Threei}  BHI, yes if SPY loses .50
[13:52] {dptl} NTAP short?
01[13:53] {Threei}  don't know
[13:53] {dptl} k
01[14:01] {Threei}  uh oh
01[14:01] {Threei}  where is ese
01[14:01] {Threei}  I want him to see what happens to the market when Fed merely mulls over stopping purchases
01[14:06] {Threei}  there is long list of what else they discussed
01[14:06] {Threei}  want me to post it or don't want to bother?
[14:06] {dptl} ah  whats the use
[14:06] {Will49} all BS anyway
01[14:07] {Threei}  thought so :)
[14:07] {dptl} yeah lol
01[14:07] {Threei}  worst yet, it's not funny kind of BS
[14:07] {Will49} if it doesn't help us trade...fageddaboudit
[14:07] {dptl} sure..its all global warming after all
[14:10] {dptl} VLO .50 long?
[14:13] {dino} tex sm l .04 stop lod
[14:13] {dptl} invalidated vlo
[14:13] {dino} stopped
01[14:19] {Threei} Long Setup:  VLO  .25 break hl
01[14:19] {Threei}  If holds  .15
[14:19] {scottie} missed
01[14:19] {Threei}  1:1, and good luck getting that fill
[14:19] {Will49} missed
[14:20] {patel} missed it. dflkadflj;sdaflk;jsa
[14:20] {scottie} right
[14:32] {dino} what am i missing on the commodity dump?
[14:33] {dptl} KBH .30 short?
01[14:33] {Threei}  gotta read all that bs to find out which exact line caused it
01[14:33] {Threei}  KBH, yes
[14:37] {dptl} freaking charts stop again
[14:38] {Will49} mine too
01[14:41] {Threei} Short Setup: SLW  .30 break
01[14:41] {Threei}  If holds  .40
01[14:49] {Threei}  1:1
[14:49] {dptl} out ty
01[14:50] {Threei}  KBH too
[14:50] {dptl} out kbh ty
01[14:51] {Threei}  yw
01[14:51] {Threei}  patel, you got those?
[14:51] {nemo} guys...
[14:51] {nemo} sorry I'm falling down on the job...
[14:51] {nemo} My insults have become anemic
[14:51] {patel} patel got SLW
[14:51] {nemo} no edge
[14:51] {patel} :) thanks
[14:51] {nemo} listless
01[14:51] {Threei}  whew
[14:51] {patel} all out now
01[14:51] {Threei}  1:2 SLW
01[14:51] {Threei}  out
[14:52] {patel} took my eye off KBH
01[14:52] {Threei}  nemo, that's OK for now, but get your act together please
[14:52] {Will49} out tks
01[14:52] {Threei}  we count on you to maintain your edge
[14:52] {jdetente} nice one ty
[14:52] {scottie} gotta go, see you tomorrow
06[14:52] * dino slaps nemo around a bit with a large trout
01[14:52] {Threei}  on your insilts to be stinging
[14:52] {nemo} yeah, it's that sunlight thing and the winter...btw bunny has become vicious
01[14:52] {Threei}  take care scottie'
[14:52] {nemo} she's decided that under my father's bed is her hutch
[14:52] {nemo} He gets to close, she attacks
[14:53] {Will49} see ya scottie
[14:53] {nemo} It's a real comedy act watching an 80 year old with an oxygen bottle swinging his leg back and forth trying to dislodge a crazed rabbit
[14:54] {dino} lol
[14:54] {nemo} Brings back fond memories of Monty Python
[14:54] {nemo} Dino...I'm totally serious
[14:54] {dino} i believe you, was picturing it
[14:58] {nemo}  I warned him this morning, it might be good idea to keep his pants on as he likes to sit at the computer in his boxers...turned out to be a good idea
[15:00] {dptl} i just checked new version laser
[15:00] {dptl} same problem with charts
[15:01] {Will49} so, their servers then?
01[15:01] {Threei}  it's either on server level or on exchange level or on routing level
01[15:01] {Threei}  not on software
[15:02] {dptl} yeah  i let CC happens few times a week now
01[15:02] {Threei}  is server, it will affect users of this particular broker; if exchange, it will affect everyone; if at routing, it will affect certain areas
[15:02] {nemo} as I said...DAS Trader was having problems with quote servers earlier
01[15:02] {Threei}  yes, and that indicates exchange level
[15:02] {nemo} frickin' Chinese hackers probably
01[15:02] {Threei}  or that
01[15:02] {Threei}  lol
[15:02] {nemo} time for a missile test...or two
[15:04] {dptl} ANF short?
01[15:05] {Threei}  small shares
[15:05] {dptl} late
[15:05] {nemo} caeful dp this drop is coming into SERIOUS support in the SPY
[15:06] {dptl} k
[15:09] {dptl} LRCX 42 long? i think its ready for bounce
01[15:10] {Threei}  out KBH in full
[15:11] {dino} esv sm l .35
[15:14] {dptl} to go...see ya tomorrow all
[15:14] {Will49} peace dp
01[15:15] {Threei}  take care
[15:15] {dino} cya
[15:15] {patel} take care
01[15:16] {Threei}  wow, KBH had even more in it
01[15:20] {Threei} Short Setup: FCX  .20 break
01[15:21] {Threei}  If holds  .30
01[15:23] {Threei}  Invalidated
01[15:24] {Threei}  (US) White House planning to use trade tools to prevent trade secret theft from countries including China- Aiming to increase enforcement against trade theft - Calls on Congress to increase maximum sentence for economic espionage to at least 20 years - Will launch 3 month study to determine if legislation is necessary to strengthen law enforcement efforts
[15:25] {nemo} missile test
01[15:25] {Threei}  will launch 3 months study - hear that earthquake? That's entire population of China rolled on the floor laughing
[15:25] {Will49} hahaha
[15:26] {dino} stop esv -.20
[15:26] {dino} lol
01[15:26] {Threei}  and hear that tsunami? that's them falling out of their chairs when they read study of what - whether legilslation is necessary
[15:26] {nemo} they're going for the spy stops below .50
01[15:27] {Threei}  which means that if the study shows that yes, it is, next 6-month stidy will detremine what legislation
01[15:27] {Threei}  anf then we will spend 2 years preparing legislation
01[15:27] {Threei}  and 2 years arguing about it
01[15:28] {Threei}  and by the time chinese hackers report to government "we are done, nothing left to steal over there" we ill be fully ready
[15:28] {Will49} good thing you're not skeptical Vad :)
01[15:31] {Threei}  me?? never
01[15:31] {Threei}  FCX
01[15:31] {Threei}  valid again
01[15:42] {Threei}  1:1
[15:48] {Will49} out +.11 tks Vad
[15:48] {nemo} bears are pitching bulls are catching
[15:48] {jdetente} lol
[15:48] {jdetente} that's a little graphic nemo...haha
[15:48] {nemo} this is the level for the month on spy.  They gap it down tomorrow bulls get real nervous
[15:48] {nemo} I'm into sports metaphors, what are YOU talking about.
[15:48] {nemo} ?
01[15:49] {Threei}  jd, don't even think about answering that
[15:49] {jdetente} I said nothing. carry on
[15:49] {nemo} mmmhhhh...he's smarter than Will
[15:50] {Will49} yeah...sniff
[15:51] {nemo} my other trading buddy decided to go long spy at 152 10k shares, just baling now
[15:51] {nemo} owwwwwwwwwwwwww
[15:51] {jdetente} ouch
01[15:51] {Threei}  you'd do well suggesting him to visit our room
[15:51] {dino} ouch
[15:52] {patel} yikes....
[15:52] {nemo}'s his trading style, he's positive 80% of the month
[15:52] {nemo} today is an anomaly
[15:52] {Will49} surprised you even have one other buddy
[15:52] {nemo} we're below S3 on the SPY
01[15:52] {Threei}  lol
[15:52] {nemo} first time BTFD! hasn't worked in a long time
[15:53] {nemo} did Will say something?
01[15:53] {Threei}  meanwhile in our little kingdom of winning, FCX is close enough to 1:2
01[15:53] {Threei}  out .02
[15:53] {Will49} my ghost
[15:53] {nemo} soon to be, yes
[15:53] {Will49} ya
[15:53] {nemo} no..gonna' get you
[15:54] {Will49} :)
[15:54] {nemo} wow, this will start bringing out the stops down here, this means they likely gap it below 151 tomorrow
01[15:54] {Threei}  one of the best things abput today:
[15:54] {nemo} Too many people long, Wall Street has to shake the shares loose so they can buy cheaper
01[15:54] {Threei}  market changed its behavior drastically, yet we continue winning streak
[15:55] {Will49} and nemo was fairly quiet?
[15:55] {nemo} well you're the king of trading limit down days
01[15:55] {Threei}  yes but such radical changes often cause pause in our profitable streaks
01[15:55] {Threei}  not this time
[15:56] {nemo} Actually, I've noticed you tend to do rather well on strong down days
[15:56] {Will49} i thought our streak was because I took a month off
[15:56] {nemo} No, your streak likely has to do with incontinence
[15:56] {Will49} lol
01[15:56] {Threei}  yes will, but then we endured and overcame
[15:57] {Will49} that's the old nemo we all love so much
[15:57] {nemo} I don't recommend holding long positions over night, unless it's a short or the vxx
[15:57] {Will49} another great day Vad...tks
01[15:57] {Threei}  yw
[15:58] {patel} have a great day everyone
[15:58] {patel} see you all tomorrow
[15:58] {jdetente} gn all
[15:59] {dino} gn all, thx
[15:59] {Will49} cheers guys
01[15:59] {Threei}  thank you all, have a good evening
01[15:59] {Threei}  see you tomorrow