Thursday, April 11, 2013

Apr 11 2013

Catch of the Day: CAT relative weakness gave an idea of the short even though SPY was making new highs at the time; slightest weakness in the market should have supported the short, which was exactly what happened. Bounce top signified by two Dojis was a perfect setup. On top of quite a few winning trades in the morning, the day is beyond perfect.


On top of all that, added a few more winning ones on GDX and SLW closer to the end of the day, to finish what came to be one of our best this year.


Session Time: Thu Apr 11 00:00:00 2013
[09:00] {dino} gm
01[09:01] {Threei}  dino :)
[09:04] {cc_9} Good morning fellas.
01[09:04] {Threei}  cc9 :)
[09:06] {thomcbell} gm
01[09:06] {Threei}  tbell :)
[09:06] {thomcbell} hpq - intc - brcm
[09:10] {jdetente} gm
01[09:10] {Threei}  jd :)
[09:18] {Les} mornign
[09:19] {cipher} gm
[09:20] {Will49} gm
01[09:20] {Threei}  les, cipher, will :)
01[09:26] {Threei}  Greece Jan Unemployment Rate climbs to fresh record of 27.2%
[09:26] {Les} official count
[09:27] {Alexs} gm
01[09:27] {Threei}  alex :)
[09:30] {dino} yum sm s .70
01[09:31] {Threei} Short Setup: GDX  .60 break
01[09:33] {Threei} Short Setup: C  .04 break
[09:33] {thomcbell} prlb looking for a short setup
[09:33] {dino} yum stop -.30
01[09:33] {Threei}  If holds  .10
[09:34] {dino} reload s .99
[09:34] {cc_9} We need this SPY to come down some.
01[09:35] {Threei}  GDX 1:1
01[09:35] {Threei}  C 1:1
[09:36] {dino} cov yum .57, +.42
01[09:36] {Threei}  wtg
[09:37] {Les} good call on GDX vad. was fuming on failure to catch SLW didn't look elsewhere
01[09:37] {Threei}  emotions...
01[09:37] {Threei}  fuming is emotion, right?
01[09:37] {Threei}  or just air pollution?
[09:37] {Les} I blame nemo
01[09:37] {Threei}  who doesn't
01[09:38] {Threei}  C 1:2
[09:39] {thomcbell} prlb was way too wide
[09:39] {Les} great response from C to a prior day's squeeze all out ty
01[09:40] {Threei}  yw
[09:40] {Alexs} ty for C, GDX Vad
01[09:40] {Threei}  yw sir
[09:41] {dino} yum sm s .50
01[09:41] {Threei}  wow C
[09:43] {Les} bbry .85 short?
[09:43] {jdetente} covered C at .71. Thanks Vad
[09:43] {Les} could be db
01[09:43] {Threei}  :)
01[09:44] {Threei}  can't tell BBRY
[09:44] {Les} http://www.finviz.com/futures_charts.ashx?t=SI&p=h1
[09:44] {Les} potential c & H developing in silver
[09:44] {Les} futures
01[09:48] {Threei} Short Setup: GDX  .90 break
01[09:50] {Threei}  1:1 in two shakes of a lamb tail
[09:50] {thomcbell} lvs?
01[09:51] {Threei}  not ready for reversal yet
01[09:51] {Threei}  1:2, out
[09:51] {Les} nice. I missed it
01[09:51] {Threei}  I chased to .87
01[09:52] {Threei}  broke down a bit too fast
[09:52] {Les} missed that too. vol. was only 100 from last trade. was upping the vol. and it kept sliding
[09:52] {Les} now I think I know why vol. automatically returns to default if I click on the L2 panel
01[09:53] {Threei}  that's how my laser set up
01[09:53] {Threei}  when changing symbol
01[09:53] {Threei}  or when position is closed
[09:54] {Les} another SOP to work on
[09:55] {dino} yum stop .81 -.31
[09:57] {dino} cbi drop
01[09:59] {Threei} Long Setup:  JCP  .43 break
01[09:59] {Threei}  If holds  .35
01[10:03] {Threei}  stop to .39
01[10:04] {Threei}  strange drop right when it looked ready for a final break
01[10:04] {Threei}  out
[10:05] {dino} stop jcp
01[10:05] {Threei}  good tightening
[10:05] {cipher} NTES L .15
[10:07] {cipher} out .NTES 39
[10:10] {cipher} NTES S .85
[10:11] {Les} SLW trying for .50 breakout
[10:14] {cipher} cov NTES .74 +.11
[10:14] {dino} cbi sm l .50
[10:16] {nemo} do they serve alcohol here?
01[10:16] {Threei}  self-serve
[10:17] {Les} u didn't got out and get some u bum?
[10:17] {Les} quaker house
[10:18] {nemo} there's a pesky fly in the room, Vad
[10:18] {Les} buuuuzzzzz
[10:20] {dino} cbi stop .19 -.31
[10:20] {dino} yum sm s .99
[10:21] {Les} bbry good short candidate vwap is .95
01[10:23] {Threei} Long Setup:  C  .25 break
01[10:24] {Threei}  If holds  .15
[10:24] {nemo} UNH long .75 break
[10:25] {nemo} stop under .65
[10:26] {nemo} still too illiquid to get a good fill
[10:29] {dino} cbi last try, sm l .00
[10:32] {nemo} cog above 71 looks good
[10:33] {Les} slw .30 short?=
01[10:33] {Threei}  can't tell
[10:33] {nemo} that's the open almost with vwap at .25
[10:33] {nemo} yeah, what he said
[10:33] {Les} yeh
[10:34] {Les} silver futures rising
01[10:36] {Threei}  market sudenly lost shape and drive
01[10:36] {Threei}  jellyfish
[10:38] {Les} same thing yesterday with C. lost drive
01[10:46] {Threei}  frikin C
01[10:46] {Threei}  rinse
[10:46] {cipher} CAVM L.22
[10:48] {Les} GDX bouncing around the LoD
[10:51] {cipher} CAVM stopped .15 -.07
[10:53] {nemo} two way srpt
[10:53] {cipher} INFA S .75
[10:54] {cipher} stopped .72 +.03
[10:54] {cc_9} The rape train only goes one way, and does not stop
[10:54] {cc_9} SPY, another high
[10:56] {cc_9} VXX barely @ legal age.
[10:56] {nemo} get used to it until earnings season shows it's hand
[10:59] {dino} yum stop -.21
[11:09] {dino} cavm
[11:12] {Les} GDX stopped trading?
01[11:12] {Threei}  pretty much
[11:13] {nemo} no, I wacked your ip address
[11:13] {dino} wac spike
[11:13] {Les} only thing you are wacking is yer willy
[11:14] {dino} cavm sm l .14
01[11:19] {Threei} Short Setup: CAT  .10 break hl
01[11:19] {Threei}  If holds  .20
[11:20] {nemo} if it doesn't trigger look to reload around .30
01[11:23] {Threei}  1:1
01[11:25] {Threei}  1:2, out
[11:26] {Les} me 2 ty
01[11:26] {Threei}  yw
01[11:26] {Threei}  fair warning guys
[11:26] {Les} GDX wakes up
01[11:26] {Threei}  people who don't like cats return to another life as mice
01[11:26] {Threei}  reincarnation can be real bitch
[11:27] {Les} don't like CAT but understood the setup
[11:27] {Les} long entry now?
01[11:27] {Threei}  no opinion
01[11:27] {Threei}  50/50
[11:27] {Les} k
[11:28] {dino} cbi to .79
[11:30] {dino} out cbi .79, +.79
[11:30] {Les} gj
[11:31] {dino} ty
[11:33] {dino} cbi sm l .46
[11:44] {Les} CAT .70 short?
01[11:44] {Threei}  hl, yes'
[11:48] {dino} cavm stop .97 -.17
01[11:50] {Threei}  1:1
01[11:50] {Threei}  good kitty
[11:50] {Les} screwed exit, taken as scalp. ty
[11:51] {dino} bcei?
01[11:52] {Threei}  no news
[11:53] {dino} notes offering yesterday, thats all
01[11:53] {Threei}  hmmm... I heard Finns are as avid drinkers as Russians... now I have confirmation:
01[11:54] {Threei}  (EU) Finland PM Katainen: More integration is needed in Europe, EU nations need to help each other through the crisis- EU member states still need to take responsibility for themselves. - Crisis response process has changed for the better. - Difficult to say who should pay for the crisis. - Europe is on track to banking union
01[11:54] {Threei}  not even yesterday dino, Apr 4
[11:54] {dino} ok, ty
01[11:55] {Threei}  (SI) ECB's Kranjec: Unjustified to compare Slovenia to Cyprus, situation is serious but a bailout program can be avoided
01[11:55] {Threei}  wanna bet, Kranjec?
01[11:56] {Threei}  1:2 close enough, out
01[12:03] {Threei}  you may find it funny but...
[12:03] {Les} hmmmm
01[12:03] {Threei} Short Setup: CAT  .50 break hl
[12:03] {Les} oh, here i thoiught it was gonna be a joke :)
01[12:03] {Threei}  if it were, I would say: you won't fund it funny
[12:03] {Les} gotchya
01[12:04] {Threei}  my jokes usually entertain 14 years old
[12:04] {Les} works for nemo then
[12:04] {nemo} mmmhhh
01[12:04] {Threei}  why do you think Seinfield never took seriously the threat of my competition...
[12:05] {nemo} it scares me that Les passed on his genes
[12:05] {Les} ah come on who else is gonna entertain you here?
[12:06] {nemo} with you les it's enterPAINment
[12:07] {Les} LOL not bad not bad
[12:12] {Les} http://wallstcheatsheet.com/stocks/ouch-blackberrys-new-z10-is-a-bleeder.html/?fb_comment_id=fbc_237971149675956_1008766_237973553009049
[12:12] {Les} BBRY hanging at the lows
[12:14] {Les} cut CAT -.02 wanna go do my pyjama party. back for close
01[12:17] {Threei}  no one dares to ask
01[12:17] {Threei}  thank god
[12:18] {jdetente} so he cut his cat and went to a pajama party
[12:18] {jdetente} sounds very German to me...
[12:18] {Will49} code for...?
01[12:21] {Threei}  don't Will...
[12:21] {Will49} OK
[12:22] {Will49} Les already has lowered the bar too far
01[12:22] {Threei}  one thing I learned dealing with nemo, and I suspect it's as true for Les, is: think twice before asking any questions, you might get an answer...
[12:22] {Will49} good policy
[12:22] {nemo} mmmhhh
01[12:25] {Threei}  1:1 baby
[12:25] {Will49} YES!
01[12:25] {Threei}  3 short on the same stock in a row
01[12:27] {Threei}  Will, I hope you are rethinking your take on cats...
[12:27] {dino} hmmm, stepped away and partial fill bcei .01
01[12:27] {Threei}  it's profitable, and you want to avoid that coming back as a mice
01[12:28] {Threei}  mouse
01[12:29] {Threei}  1:2
[12:30] {thomcbell} bvei reminding me a bit of kors yesterday - much thinner stock though
[12:31] {thomcbell} biggest volume print of the day just happened around 36.25
[12:31] {thomcbell} waiting for a setup now
[12:31] {thomcbell} bcei
[12:37] {dino} missed the whoosh to.01
[12:37] {dino} added ave .20 now
[12:37] {thomcbell} i got a bit there
[12:38] {dino} i caught only 100 @ .01
[12:40] {thomcbell} vwap 36.91
[12:40] {thomcbell} dino
[12:40] {thomcbell} as u know
[12:41] {dino} s3 36.68 tho
[12:42] {dino} close to prev rejection
[12:50] {thomcbell} prlb oof
01[12:52] {Threei}  someone had too much of that BC flag:
01[12:52] {Threei}  http://goo.gl/LX4wE
[12:58] {thomcbell} dino - looks like a good setup long bcei - 36.50 break if holding 36.40
[12:58] {thomcbell} that just went
[12:59] {thomcbell} i am using vwap as my target right now
[13:02] {dino} me too
[13:12] {dino} out bcei .81, +.61
[13:12] {dino} was laying out
[13:14] {thomcbell} molto bene -
[13:14] {thomcbell} didn t quite get to me at 36.90
[13:18] {dino} here to comes
[13:30] {thomcbell} barely got any off
[13:30] {thomcbell} feels ok though
[13:34] {thomcbell} oh well- sold a bit
[13:38] {dino} gappy trader
[13:45] {dino} hlf spike
01[13:49] {Threei}  Herbalife Ltd. Ticking higher on report out of court hearing indicating that the former KPMG partner London had heard that Herbalife was going to go private - financial press- KPMG's London allegedly passed this insider information on to his contact Bryan Shaw
[13:52] {cc_9} ACAD is killing the wanna be fade shorters todat
01[13:56] {Threei}  (US) House Speaker Boehner (R-OH): President Obama's budget is not a compromise but instead a 'step backwards'; not hopeful of budget deal- House will review the gun legislation passed by the Senate } - Reminder: Yesterday Boehner noted that Obama deserves some credit for changes to entitlements and was hopeful could reach a budget agreement. Boehner also mentioned that Obama had backtracked on entitlement reform in his chained CPI proposal
[14:03] {dino} roc spike
01[14:06] {Threei}  hmmm... why did we miss GDX .40 break
[14:10] {dino} bmc spike
[14:14] {thomcbell} prlb double bottom ish - but might be too many sitting on losing positions
[14:14] {dino} zumz sm s .85
[14:23] {dino} zumz to .55
[14:23] {dino} cov +.30
[14:33] {dino} prlb spanked today
[14:35] {thomcbell} and was strong as anything this am
[14:36] {dino} $5 range
[14:38] {dino} bbby drop
[14:40] {Les} what r we in?
[14:40] {nemo} you...coma
[14:40] {dino} cbi still from .46
[14:42] {Les} slw short .15?
01[14:43] {Threei}  looks good
[14:44] {dino} cbi to .79
01[14:45] {Threei} Short Setup: GDX  .30 break
[14:47] {dino} out cbi .78, +.32
[14:48] {Les} hedging with the miners again
01[14:48] {Threei}  yup
[14:53] {Les} slw valid?
01[14:53] {Threei}  yes but I'd like to see a min or two comsolidation before the break
[14:54] {Les} k
01[14:54] {Threei}  GDX is solidly invalidated, needs new formation
[15:01] {Les} IWM vwap rejection here
[15:05] {nemo} http://bit.ly/120pGxR  only in Massachusetts.  Of course we had a judge throw out an illegal gun posession case because the police had no right to expect that a known gang banger might be carrying a gun in a GUN CASE in public.
[15:12] {nemo} ffiv might come in here
[15:13] {dino} srpt drop
[15:14] {Les} traders dropping C
[15:17] {dino} bbby sm l .85
01[15:18] {Threei}  GDX is valid again
[15:21] {Les} bbry .50 short?
01[15:22] {Threei}  if stays under .60, yes
[15:22] {Les} k
[15:24] {thomcbell} long setup bcei 36.50 long break if holding 36.40
[15:24] {Les} how stupid of me to think I could borrow
[15:28] {nemo}  {Les} how stupid of me to think
01[15:28] {Threei}  SLW 1:1
01[15:28] {Threei}  I was wondering whther nemo was conscious
[15:29] {Les} like a little fishy. gotta give the right bait
01[15:29] {Threei}  that was such a low hanging fruit
[15:29] {nemo} yeah sorry, early doctor's appt.
01[15:29] {Threei}  ahh
[15:29] {dino} fishy fishy fishy
[15:30] {Les} http://www.independent.co.uk/life-style/gadgets-and-tech/news/researcher-shows-how-to-hack-and-crash-a-passenger-aircraft-with-an-android-phone-8569117.html
[15:31] {Les} hacking planes with android
[15:31] {Les} brave new world
01[15:40] {Threei}  lol... remember my prediction that they won't be able to get out of that capital control regime?
01[15:40] {Threei}  (CY) Cyprus Finance Ministry reportedly extends capital controls for another 7 days; will allow transactions of up to �300K within the country
[15:41] {thomcbell} bcei triggered
[15:41] {thomcbell} long
[15:41] {Les} within the country. Yeh get those condo projects sold hey...
[15:41] {thomcbell} target 1:3
[15:41] {Les} still sucking the tit of foreign investors, or trying anyway
[15:42] {thomcbell} market not cooperating
01[15:42] {Threei}  what can they do? the moment they lift the lid, money flies out of the country in a blink of eye
01[15:42] {Threei}  imbeciles
[15:43] {Les} you can't take it out, but you can spend it on our fine real estate... poor dicks
01[15:44] {Threei}  GDX 1:1
01[15:44] {Threei}  SLW 1:2
[15:44] {Les} last weeks low next stop
01[15:45] {Threei}  this threatens to be Will's best day ever
[15:45] {thomcbell} bcei 1:1 kind of
[15:46] {dino} gj tbell
[15:46] {Will49} could be!
[15:46] {dino} sweet will
01[15:47] {Threei}  between C, GDX, SLW and CAT, killer day
01[15:47] {Threei}  quite relaxing too
01[15:47] {Threei}  no stress
[15:47] {Will49} easy for you to say
01[15:47] {Threei}  yup... that's what no stress means {G}
[15:48] {dino} ngvc drop
01[15:48] {Threei}  in fact, today is so easy that I am thinking of using the rest of the day to go solve Mid East conflict
[15:48] {Will49} haha
[15:48] {thomcbell} bcei 1:2
[15:50] {dino} how you going to do that? toss a couple nukes?
[15:51] {Les} booyah
01[15:51] {Threei}  maybe deploy my scalping techniques... {G}
[15:55] {thomcbell} bcei 1:3 and out
[15:55] {cc_9} 5 mins to go
[15:55] {cc_9} below or above 159 on SPY close
[15:58] {dino} out bbby .08, +.23
[15:58] {Will49} nice day Vad tks
01[15:59] {Threei}  thank you all
01[15:59] {Threei}  have a great evening
01[15:59] {Threei}  see you tomorrow
[15:59] {Will49} cheers
[16:00] {dino} gn all, thx for ideas
[16:01] {Les} cheers