Friday, April 12, 2013

Apr 12 2013

Perfect end to a very good week. 100% trading, no single stop. Usual suspects: GDX, CAT, SLW, BBRY, C.

Session Time: Fri Apr 12 00:00:00 2013
[09:02] {thomcbell} gm
01[09:03] {Threei}  morning tbell
[09:09] {thomcbell} gld
01[09:12] {Threei}  poor goldbugs
01[09:12] {Threei}  no relief
01[09:12] {Threei}  no break
01[09:12] {Threei}  no safe haven
[09:12] {dino} gm
[09:12] {Les} kill em all, let god sort em out
[09:12] {Les} morn
01[09:14] {Threei}  dino, les :)
[09:14] {cipher} gm
01[09:14] {Threei}  cipher :)
01[09:17] {Threei}  BlackBerry Calls for review of False Reports on Return Rates; reiterates sales of Z10 are meeting expectations
01[09:17] {Threei}  - Would seek Securities and Exchange Commission and Ontario Securities Commission review of a false and misleading report about retail return rates for the Company's new BlackBerry Z10 smartphone.
01[09:17] {Threei}  good luck with that
01[09:17] {Threei}  when company starts fighting analysts estimation in a public spat, it rarely ends well
01[09:21] {Threei}  JPM generally decent report
01[09:21] {Threei}  and yet
[09:21] {Will49} gm
[09:22] {backman} gm
[09:22] {Alexs} gm
[09:24] {jdetente} gm
01[09:25] {Threei}  will, bman, alex, jd :)
01[09:30] {Threei} Short Setup: GDX  .30 break hl
01[09:30] {Threei}  If holds  .40
01[09:31] {Threei}  change to .40 break
01[09:31] {Threei}  too fast...
[09:32] {Les} way overextended. a bounce to short into would be nice
01[09:32] {Threei}  let's wait for one
01[09:32] {Threei}  nervous opening
[09:34] {backman} ACAD?
01[09:34] {Threei} Short Setup: SLW  probably long on .80 break
01[09:34] {Threei}  oops'
01[09:35] {Threei}  probably long on .80 break, but ACAD is not for faint heart
[09:35] {dino} ctsh sm l .53 stop .45
[09:37] {cipher} IEP L.16
[09:37] {cipher} SNDK L.29
[09:37] {thomcbell} bcei - i knew it
01[09:39] {Threei}  ok, here come bounces
[09:40] {dino} ctsh to .93
[09:40] {thomcbell} c looking for setup but nothing there
01[09:40] {Threei} Short Setup: SLW  .20 break
01[09:41] {Threei} Short Setup: GDX  .35 break
01[09:41] {Threei}  GDX stop .46
01[09:41] {Threei}  SLW .26
01[09:43] {Threei}  SLW 1:1
01[09:43] {Threei}  GDX 1:1
[09:43] {dino} out ctsh .03, +.50
01[09:43] {Threei}  wtg
[09:43] {dino} ty
[09:44] {thomcbell} jpm impressive
[09:45] {thomcbell} green
01[09:45] {Threei}  SLW 1:2
01[09:45] {Threei}  like clockwork
01[09:45] {Threei}  what are we going to trade when this PMs/miners death march is over
[09:46] {Les} jump on the backs of the new gold bugs
[09:46] {Les} ride em up
01[09:46] {Threei}  long?? booring
[09:46] {Les} hehehe
01[09:46] {Threei}  shorting public hysteria is much more fun
[09:46] {Les} feeding on fear your thing hey?
[09:46] {Les} :)
01[09:47] {Threei}  greed is good, too... to borrow from Gekko
[09:47] {dino} yes
[09:47] {Les} double edged sword
[09:47] {Les} gotta learn how to use greed
01[09:47] {Threei}  same thing...
[09:47] {Les} hard lesson
01[09:48] {Threei}  like nutcracker and ballbreaker, you know... same thing :)
[09:48] {Les} f:)
[09:48] {Les} - f
[09:49] {dino} infy gap fill jan
[09:49] {Les} gotta admit morbid interest in reading new gold bug blog commentary.
01[09:49] {Threei}  it's highly educational
01[09:49] {Threei}  helps you recognize this dealy mindset
01[09:50] {Threei}  deadly
[09:50] {Les} enlightening, yes
01[09:50] {Threei}  "I am right, the market is wrong, it's manipulation"
01[09:51] {Threei}  ever catch yourself thinking like that, close all position and drink for 3 days straughtm to erase all the brain cells that carry this way of thinking
[09:51] {Will49} LOL
01[09:51] {Threei}  SLW 1:3, out
[09:52] {thomcbell} good job vad
[09:52] {thomcbell} great job
01[09:52] {Threei}  GDX 1:2
01[09:52] {Threei}  ty sir
[09:52] {Les} gonna have to call it a day
[09:53] {Les} slaughtering gold longs has made my daily pay check
[09:53] {dino} ctsh new lows, infy app lod
01[09:53] {Threei}  wait, GDX is coming on 1:3 as well
01[09:53] {Threei}  then you can leave
[09:53] {Les} yeh last piece still holding
01[09:53] {Threei}  awww SLW
01[09:53] {Threei}  1:4
01[09:54] {Threei}  so Les... was there any second of it that wasn't fun?? :)
[09:54] {Les} hmmmm
[09:54] {Les} the emotions were kept in pocket there during tradess
01[09:54] {Threei}  and notice... there is no creative thinking involved with each and every trade
01[09:54] {Threei}  like filling a template
[09:54] {Les} fun will come commenting in various blog spaces now
[09:54] {Will49} that's the part i like
[09:55] {Les} yeh
[09:55] {Will49} no thinking
01[09:55] {Threei}  standard operating procedure:
[09:55] {Les} still working through the struggle between what I ethink and what I see
01[09:55] {Threei}  trading idea is in place, watch for the setup that goes in accordance with it,
01[09:55] {Threei}  take it when it comes, wait for the outcome.
[09:55] {dino} gj les
01[09:55] {Threei}  day after day, like a clockwork
[09:55] {thomcbell} i do as well Les -
01[09:56] {Threei}  GDX 1:3, out
[09:56] {thomcbell} im a work in progress - but keeping getting better with this method
[09:56] {Les} C clocked me good the last couple of session as I took silly bets that it would squeeze some more. Of course it did no such thing
01[09:56] {Threei}  that's good
01[09:57] {Threei}  yiou know what would be bad?
01[09:57] {Threei}  if it did do what expect
01[09:57] {Threei}  what you expect
01[09:57] {Threei}  that would reinforce your bad habit of trading an idea with no setup
[09:57] {Will49} in life...expectations lead to pain
01[09:57] {Threei}  as it is, it showed you that chart setup overrides everything
01[09:58] {Threei}  and next time you won't do that
01[09:58] {Threei}  or will, but more seldom, and will get out faster
01[09:58] {Threei}  until bad habit is eliminated
[09:58] {dino} athn drop
[09:59] {thomcbell} looking for a setup lvs short here vad
[09:59] {Les} will take day off and go do more pyjama partying
[09:59] {Les} slowly geting balance between work and other activities
[09:59] {Les} pyjama party = Aikido
[09:59] {Les} cheers bon weekend c u's Monday
01[10:00] {Threei}  we don;t want to know about your perversions
01[10:00] {Threei}  have a good weekend
[10:00] {Les} Nemo understands me
[10:00] {Will49} be good Les
[10:00] {dino} later les
[10:00] {Les} never
01[10:00] {Threei}  55 break, tbell...
[10:00] {Will49} kepp your pjs on
01[10:00] {Threei}  could be
[10:02] {thomcbell} lvs 1:1
[10:04] {nemo} not much on the algo this morning so far
[10:05] {thomcbell} i got stopped flat on 2nd half lvs
[10:05] {thomcbell} next
[10:08] {thomcbell} kors looks like an 55.80 break if holding 56 half lot
[10:09] {thomcbell} possibly two sided
[10:10] {cipher} ATHN L .55
[10:10] {cipher} LECO L.97
[10:12] {thomcbell} kofs long setup 55.96 break if holding 55.80
[10:14] {thomcbell} kors rather
[10:14] {thomcbell} still two sided though
01[10:15] {Threei}  crap... got distracted, missed .75 CAT short
[10:17] {Will49} getting an early start on the weekend Vad?
[10:17] {Will49} :)
01[10:18] {Threei}  I tried to start weekend on Tuesday...
[10:18] {thomcbell} kors invalidated on both sides - spread is too big - will wait for it to tighten
[10:18] {cipher} out ATHN .93 +.38
[10:18] {Will49} aw cipher...go away
01[10:18] {Threei}  lol
[10:19] {Will49} you're just too good
01[10:19] {Threei}  grrr CAT
[10:20] {Will49}'s meow CAT
[10:20] {cipher} LECO stopped .94 -.03
[10:20] {cipher} CAVM L.04
[10:22] {cipher} KLAC L.28
[10:27] {cipher} out CAVM .14 +.10
[10:28] {cipher} NXPI L .12
[10:29] {thomcbell} prlb crazy moves today
[10:30] {cipher} out KLAC .37 +.09
[10:30] {cipher} out NXPI .17 +.05
[10:31] {backman} ACAD all recovered from $1 drop earlier
[10:31] {thomcbell} ca lot of fight
[10:31] {thomcbell} c
[10:31] {thomcbell} alot of fight
[10:31] {thomcbell} bcei all the way back down to test 50
[10:34] {cipher} GLD drop
01[10:36] {Threei}  mama
01[10:37] {Threei}  I can't imagine the pain in goldbugs camp
[10:37] {dino} 07 red
[10:37] {dino} bcei drop
[10:37] {Will49} yikes
[10:37] {dino} should start hearing about a gold hedge fund blowing up
[10:38] {thomcbell} i nibbled at 35.75
01[10:38] {Threei}  *SPOT GOLD MOVES BELOW $1,525/OZ**Note: level had held as support in Sept 2011, Dec 2011 and spring 2012
[10:38] {dino} pall drop
[10:41] {thomcbell} kors 55.80 short break was the play there
[10:43] {dino} infy sm l .50 stop lod
[10:49] {dino} cbi sm l .02
01[10:51] {Threei} Short Setup: CAT  .50 break hl
01[10:52] {Threei}  ugh, late
01[10:53] {Threei}  ok, in
01[10:53] {Threei}  stop .61
01[10:53] {Threei}  target 1:3
01[10:53] {Threei}  aggressive entry for .40 break
[10:58] {backman} Kors...nice break above .42
[10:59] {thomcbell} prlb small long 49
01[11:01] {Threei}  1:1
01[11:01] {Threei}  GLD... blood is gushing
[11:02] {dino} slw smacked too
[11:02] {dino} pall
[11:03] {dino} infy stop -.30
[11:05] {dino} slv 52 wk low
01[11:06] {Threei} Short Setup: EBAY  .80 break hl
01[11:07] {Threei}  If holds  .90
01[11:07] {Threei}  CAT 1:2
01[11:08] {Threei}  closed balance on a trail
[11:12] {dino} slv sm l .35
01[11:13] {Threei}  Invalidated  EBAY
[11:14] {dino} infy sm l .00
[11:20] {dino} out infy .44, +.44
[11:23] {dino} stj spike
01[11:29] {Threei}  if this doesn't send you on the floor laughing, nothing ever will:
01[11:29] {Threei}  (CY) Cyprus Govt confirms that as part of additional funding for bailout, no new haircut on depositors will be implemented - press- Reminder: Earlier the Cyprus President was considering asking Greece for �3.0B of ELA funding in order to recapitalize the Cyprus banking system
01[11:30] {Threei}  asking Greece for funding???
[11:30] {dino} lol
01[11:31] {Threei}  asking homeless for the roof... stripper in the middle of a pole dance for the clothes...
01[11:31] {Threei}  asking vegetarian for a pork chop
01[11:31] {Threei}  asking nemo for a sane advice
[11:32] {dino} asking obama to cut regulations
01[11:32] {Threei}  that beats even nemo piece
[11:35] {Will49} the only surprise? ...that anybody is surprised
[11:36] {dino} rumors cypress selling gold reserves
[11:36] {Will49} all this bail out stuff just going in one ear and.....
01[11:36] {Threei}  they just can't decide whether it's true or not... conflicting headlines every day
01[11:41] {Threei} Short Setup: BBRY  .70 break
01[11:41] {Threei}  If holds  .80
[11:42] {nemo} bbry or bbby
01[11:43] {Threei}  R
[11:47] {thomcbell} out bcei 36
[11:47] {dino} gj
[11:48] {thomcbell} wish i had waited for that last woosh
[11:50] {dino} lnn?
01[11:52] {Threei}  no news
[11:54] {dino} out cbi .32, +.32
[11:55] {thomcbell} hig long setup 27.46 break if holding 27.39
[11:56] {dino} out slv .55, +.20
[11:56] {dino} taking a break
[11:57] {thomcbell} out prlb 49.40's
[12:19] {thomcbell} jpm long setup 49.27 break if holding 49.20 Vad
[12:20] {nemo} at lunch when it's been trading in a
01[12:26] {Threei}  tbell, if JPM does that, I'd rather look for C .40 break as a sympathy play
01[12:26] {Threei}  BBRY 1:1
01[12:26] {Threei}  took its sweet time
[12:32] {dino} .
01[12:32] {Threei}  good point
[12:34] {dino} indeed. i see i didn't miss much
[12:35] {Will49} but you dotted your i's
01[12:40] {Threei}  C 1:1
01[12:40] {Threei}  notice how much beter it moved vs JPM?
[12:42] {thomcbell} hig got 1:1 and then some i see
[12:42] {thomcbell} y i see
01[12:57] {Threei}  1:2
[13:04] {dino} gj
01[13:05] {Threei}  ty
01[13:05] {Threei}  slowish but very effective day
[13:09] {dino} same here
[13:13] {dino} gef sm l .91
[13:21] {Will49} yes Vad...another good day
[13:22] {Will49} if I don't give it away now
[13:22] {Will49} think I'll scalp small lots until last hour
[13:22] {Will49} If there any alerts
[13:22] {Will49} are any
01[13:23] {Threei}  yup
01[13:23] {Threei}  and I just prepared a longish joke about Will bombrading me with request for another trade with teenager-like gusto
[13:24] {Will49} Ha
[13:24] {Will49} i like the teenager reference :)
01[13:24] {Threei}  thought you would :)
[13:25] {nemo} rig
01[13:26] {Threei}  next shishkebab gathering, we need to cruise over the neighborhood starting fights and breaking fences
[13:27] {backman} ...and cow tipping..go hog wild
01[13:27] {Threei}  for that we will have to dump ese... he has unhealthy respect for cows
01[13:27] {Threei}  whatcha think Will?
[13:28] {backman} tell him they are really bulls
01[13:28] {Threei}  dp will be on board, I am sure
01[13:28] {Threei}  as most Russians, he is all to happy to tip the cows over after second bottle of vodka
[13:36] {dino} gef stop.66 -.25
[13:38] {backman} OK...calling it a weekend...
01[13:38] {Threei}  have a good one bman
[13:44] {Will49} Vad...sorry, stepped away for a minute (Carolyn is home after three weeks away)
[13:44] {Will49} so have to give her some attention:)
01[13:44] {Threei}  I bet :)
[13:44] {Will49} Yes, good idea for BBQ. Only you have to do the rough stuff
[13:45] {Will49} fighting and breaking frnces
[13:45] {Will49} Russians are good at that, no?
[13:45] {Will49} Canadians only excel at beer drinking and hockey
[13:46] {Will49} so I'll take care of the beer consumption part
01[13:46] {Threei}  well, we'll find out :)
[13:47] {Will49} of course, you being a Russian-Canadian can fight with a beer in one hand
[13:48] {Will49} I only fight when wearing skates
01[13:48] {Threei}  OK... we need a video guy for all that
01[13:49] {Threei}  going to be epic
[13:49] {Will49} oops...forgot DP, he can help with the rough stuff too
[13:49] {Will49} Whatever you want to do Vad, I'm behind you till your nose bleeds :)
01[13:50] {Threei}  lol
[13:51] {Will49} As for ese, don't think we can rely on liberals to fight
01[13:51] {Threei}  then we will just beat him up
[13:51] {Will49} yeah
[13:51] {Will49} commie teacher
[13:52] {Will49} JK
[14:00] {dino} ntap
[14:01] {dino} sm s .51
01[14:01] {Threei}  spiders in a jar
01[14:01] {Threei}  (CY) Cyprus Central Bank's Demetriades: Govt is violating the central bank's independence, wants to sell gold reserves without consulting the bank
01[14:01] {Threei}  - Govt is interfering with bank restructuring process.
01[14:01] {Threei}  - Calls for investigation of Cyprus president's actions.
[14:03] {dino} cov ntap .01, +.50
[14:05] {nemo} cof looks short
[14:25] {thomcbell} KORS looks like a 56 long break setup
[14:46] {dino} dish
[14:56] {nemo} gpn looks short
[15:01] {Les} with a smackdown like that in gold, i've gotta come back fo r aclosing trade
[15:01] {Les} how goes it?
[15:02] {Les} hello?
01[15:02] {Threei}  don't yell
01[15:03] {Threei}  you may wake nemo up
[15:03] {Les} pffffff
[15:03] {Les} hmmm narrow day
[15:03] {Les} or so it seems
01[15:03] {Threei}  we did 1:2 long on C while you were gone
[15:04] {Les} slw looks like its ready here
01[15:04] {Threei} Short Setup: GDX  .45 break
01[15:04] {Threei}  If holds  .55
[15:20] {Will49} wow
[15:23] {Les}  those gold longs won't go gently into the night
[15:23] {Les}
[15:24] {Les} 1:1
01[15:24] {Threei}  1:1
[15:25] {Les} sorry
01[15:25] {Threei}  that's OK
01[15:25] {Threei}  lol
[15:25] {Les} thought you'd nodded off to sleep again
01[15:25] {Threei}  O have
01[15:25] {Threei}  I
01[15:28] {Threei}  gosh, goldbugs running around and convincing each other that it's a manipulation, everything will be OK, Fed is printing...
01[15:28] {Threei}  painful to watch
01[15:29] {Threei}  I better not say anything, they will be on a throat of anyone who doesn't share their pain and conviction
[15:29] {Les} :)
01[15:29] {Threei}  I did my best for months if not years to warn them
[15:29] {dino} calling it a week, thanks for ideas
[15:30] {Les} cheers dino
01[15:30] {Threei}  take care dino
[15:30] {Will49} cheers
[15:34] {dino} will do, thx
01[15:37] {Threei}  ugh, covered BBRY too soon
01[15:37] {Threei}  or just should have reshorted it on .60 break
[15:39] {thomcbell} kors 1:1
[15:39] {Les} small 1:2 to finish the day. thank you for all the fish
[15:39] {Les} a+
01[15:40] {Threei}  yw
01[15:46] {Threei}  1:2
[15:46] {thomcbell} kors flat 2nd half
[15:54] {Alexs} Thank u have a good weekend
[15:54] {Will49} you too
01[15:55] {Threei}  have a good one Alex
01[15:55] {Threei}  ok guys
01[15:55] {Threei}  covering last piece
[15:55] {Will49} another peachy day Vad tks
01[15:55] {Threei}  thank you all, that was great week
01[15:55] {Threei}  next one will be the same
01[15:55] {Threei}  or better
01[15:55] {Threei}  or not
01[15:56] {Threei}  have a great weekend, see you Monday
[15:56] {Will49} peace all