Monday, April 15, 2013

Apr 15 2013

GLD Catch of the Day  - 1:10 move off the well-timed bottom. We got 1:4 exit, and GLD proceeded to 133.5 from the 132 bottom call. Look at the chart to track the thinking and eventual call.

This is on top of 4 winning calls on FCX, SLW, CAT and C earlier, with just one stop on second FCX call. To finish the day, added 1:3 short on CAT, 1:2 on FCX... if Friday was one of our best days this year, today is pretty much repeated it.

Session Time: Mon Apr 15 00:00:00 2013
[08:57] {dino} gm
01[08:58] {Threei}  morning dino
[08:58] {dino} :)
[09:12] {jdetente} Good morning
01[09:12] {Threei}  jd :)
[09:16] {cipher} gm
01[09:17] {Threei}  cipher :)
[09:20] {Will49} gm
01[09:20] {Threei}  will :)
[09:23] {Les} afternoon
01[09:23] {Threei}  les :)
[09:24] {Les} FCX 52 wk low
[09:25] {backman} gm
[09:25] {Les} gave up strong support tis morn
01[09:25] {Threei}  gold and silver destruction continues
01[09:25] {Threei}  bman :)
[09:25] {Les} FCX sitting on 30 a little consolidation would be nice
[09:25] {dino} \slv wow, pall too. seems the world is ending (again)
01[09:26] {Threei}  fear not, the supply of stupid is endless:
01[09:26] {Threei}  (EU) Germany's "Five Wise Men" have proposed a wealth tax which could be used to help pay for future bailouts
01[09:26] {Threei}  and they are called wise men... what to say for the rest?? :)
[09:27] {dino} "get out of the way" and let capitalism work
[09:27] {Alexs} gm
01[09:27] {Threei}  alex :)
01[09:28] {Threei}  Moody's: Cyprus likely will require additional aid, debt restructuring in the future
01[09:28] {Threei}  who ever doubted that
[09:29] {Les} five wise men
01[09:29] {Threei}  ) Cyprus eases restrictions on depositors- financial press; Raises individual transfer cap to �3K from �2K
01[09:29] {Threei}  lol
01[09:29] {Threei}  and this one is the best:
01[09:29] {Threei}  Cyprus Pres Anastasiades offers bank depositors who lost at least �3M under EU bailout a Cypriot citizenship
01[09:31] {Threei} Long Setup:  GDX  .20 break
01[09:31] {Threei}  If holds  .10
01[09:31] {Threei}  change to .15 break
01[09:32] {Threei}  If holds  .05
01[09:32] {Threei}  Invalidated
[09:33] {jdetente} citizenship?? lol
01[09:33] {Threei} Long Setup:  GDX  .10 break
01[09:33] {Threei}  If holds  30
01[09:34] {Threei}  Invalidated
01[09:34] {Threei}  that'll console them, I am sure
[09:35] {Will49} miners digging a big hole
01[09:36] {Threei} Short Setup: FCX  30 break
01[09:36] {Threei}  If holds  .10
01[09:40] {Threei}  trail to .06
01[09:42] {Threei} Long Setup:  SLW  24 break hl
01[09:42] {Threei}  If holds  .90
01[09:43] {Threei}  SLW 1:1
01[09:45] {Threei}  FCX 1:1
01[09:50] {Threei} Long Setup:  CAT  .10 break hl
01[09:51] {Threei}  If holds  83
01[09:51] {Threei}  CAT two-sided
01[09:53] {Threei}  long it is
[09:54] {cipher} NTWK L.50
01[09:54] {Threei}  1:1
[09:54] {cipher} ROSE L .16
[09:55] {dino} bcei sm l .57
01[09:56] {Threei}  oh boy... 5 inches of snow in Winnipeg, and gusting wind
01[09:56] {Threei}  1:2
01[09:56] {Threei}  out .35
[09:58] {Will49} tks for all those nice call Vad
01[09:58] {Threei}  :)
[09:58] {Alexs} ty vad
01[09:58] {Threei}  welcome guys
[09:58] {cipher} out ROSE .68 +.52
01[09:59] {Threei}  staying with relatively safe plays in turbulent opening
[09:59] {jdetente} starting out the week solidly. thanks Vad
01[09:59] {Threei}  it was easier to short GDX and SLW while whole world tried to go long
01[09:59] {Threei}  harder when everyone and their broter sells them
01[09:59] {Threei}  brother too
01[10:00] {Threei}  *(US) APR NAHB HOUSING MARKET INDEX: 42 V 45E
01[10:00] {Threei}  Comments: "Supply chains for building materials, developed lots and skilled workers will take some time to re-establish themselves following the recession, and in the meantime builders are feeling squeezed by higher costs and limited availability issues
01[10:01] {Threei}  recovery, my a$$
[10:01] {dino} bcei stop .31, -.26
[10:01] {jdetente} heavy red bar on CAT after it hit .39
[10:01] {jdetente} good call on getting out
01[10:01] {Threei}  spiked way too fast
01[10:01] {Threei}  euphoris
01[10:02] {Threei}  euphoria
[10:02] {cipher} CRZO L .59
[10:02] {Les} slw gdx consolidating for next potential drop
[10:03] {Les} BBRY ready to drop
[10:06] {cipher} bcei l .68
[10:07] {cipher} out -.18
01[10:08] {Threei} Long Setup:  FCX  30 break
01[10:08] {Threei}  If holds  .90
[10:08] {cipher} SFLY L .59
[10:10] {cipher} out .84 +.25
[10:11] {cipher} QLIK L .10
01[10:12] {Threei}  Invalidated
[10:12] {Les} price is diverging from my indicators today FCX SLW GDX flagging forced selling or opposite of squeeze
01[10:14] {Threei}  why forced, as opposite of just selling?
[10:15] {Les} a descriptive term I use for when topping action turns into squeeze action. Doesn't mean anything of itself
[10:16] {Les}  if 3 min MACD is upturned with green histos but price doesn't move, my next setup would be to await MACD return to red with price consolidating accordingly at the lows
[10:17] {Les} although GDX and SLW just popped a little
01[10:17] {Threei} Short Setup: FCX  .85 break
01[10:18] {Threei}  you are doing it again Les... sp[ices with no food
01[10:18] {Threei}  If holds  .95
[10:19] {Les} :P
[10:22] {Les} data feed issues here
01[10:23] {Threei}  need quotes?
[10:23] {Les} no FSC working ty
01[10:25] {Threei}  no go
[10:25] {dino} bcei sm l .88
[10:27] {cipher} CYBX L .70
[10:28] {cipher} ORLY L .56
[10:28] {dino} cavm sm l .90
01[10:30] {Threei}  rinse FCX
01[10:31] {Threei}  dirty rotten scondrel
[10:34] {Les} from Brandt: here is the good news, Silver bulls — the market is probably much closer to the lows than to the highs. After all, Silver is getting closer to zero than its 2011 high of $49.
01[10:34] {Threei} Long Setup:  C  46 break
01[10:35] {Threei}  lol
01[10:35] {Threei}  ruthless'
01[10:35] {Threei}  If holds  .90
01[10:37] {Threei}  1:1
[10:39] {dino} irwd sm l .69
[10:40] {cipher} out ORLY -.12
[10:42] {Les} miners looking for new lows
[10:43] {cipher} out SHPG .30 +.15
01[10:43] {Threei}  1:2
[10:45] {dino} lnn sm l .40 hooker
01[10:47] {Threei}  lol
[10:47] {dino} din .60 trig long, turtle
[10:50] {dino} some serious pain going on for gold holders
[10:51] {Will49} out C... tks Vad
01[10:51] {Threei}  :)
[10:52] {dino} irwd stop .45, -24
[10:57] {Les} fcx .75 shorot?
[10:57] {Les} if holding .85?
[10:58] {dino} tol sm l .94
[10:58] {Les} might need to bounce first
01[10:58] {Threei}  it's a valid setup, but it's the same as earlier at .85
01[10:58] {Threei}  and that one was rinsed
01[10:59] {Threei}  I just don't want to step on the same rake twice
[10:59] {Les} doesn't bother me
01[10:59] {Threei}  heavens know there are enought rakes to step on, I'll look for a different one
[10:59] {Will49} nice metaphor Vad
[11:00] {Les} so women like my broken nose. They mistake me for a boxer
[11:00] {Les} some women
01[11:00] {Threei}
[11:00] {Will49} it's not your nose you should worry about
[11:01] {dino} "better worlds" huh vad?
01[11:01] {Threei}  exactly :)
[11:01] {Les} poor sideshow bob
[11:04] {dino} out lnn .39 -.01
[11:07] {dino} out din .98, +.38
[11:10] {Will49} poetic dino
01[11:10] {Threei} Short Setup: GDX  .10 break
01[11:10] {Threei}  If holds  .20
01[11:14] {Threei}  Invalidated
[11:14] {dino} wbc gap fill
[11:20] {dino} csv sm l .95
01[11:23] {Threei} Long Setup:  GLD  132 break hl
01[11:23] {Threei}  If holds  .85
[11:23] {dino} wbc sm l .10
01[11:23] {Threei}  1:1
01[11:24] {Threei}  1:2
01[11:25] {Threei}  1:3
01[11:26] {Threei}  1:4, out
[11:27] {Will49} nice
[11:28] {Will49} one for the books
01[11:28] {Threei}  :)
[11:28] {Les} slw crossed vwap at 24 slv is far short of vwap
06[11:34] * Les hits Nemo with a pan of rabbit fricassée
[11:34] {thomcbell} ooh vad
[11:34] {nemo} video card death this morning
[11:34] {Les} which model?
[11:34] {nemo} EVGA GTS250
01[11:34] {Threei}  did we exit GLD too soon or what
[11:35] {Will49} don't even look at it
[11:35] {Les} slw 24 short holding .10?
[11:35] {Les} lunch time
[11:46] {Les} GDX at vwap SLW .06 from its opening price
01[11:46] {Threei}
[11:48] {Will49} pretty
06[11:48] * Threei takes a bow
[11:50] {Les} SLW DT?
01[11:51] {Threei}  .25 break if holds .35, yeah
[11:51] {Les} k
[11:54] {backman} FB..ndl
01[11:54] {Threei}  World Gold Council: Buying of physical gold in China and India remains strong despite turbulence, long term fundamentals remain intact- Highlights that the same issues that drove central bank gold purchases are still around, gold has a diverse demand picture
01[11:54] {Threei}  sigh
[11:56] {Les} GDX vol. building here
[12:00] {backman} out FB 2:1
[12:04] {Les} looking for potential GDX DT if holding .75
[12:27] {Les} SLW at S3 resistance
[12:31] {nemo} How'd this morning go?
01[12:32] {Threei}  5 for 6 or somethong like that
[12:43] {Les} lower high in the miners
[12:50] {dino} athn sm l ave .52
01[13:45] {Threei} Short Setup: CAT  .55 break
01[13:45] {Threei}  If holds  .65
[13:47] {nemo} looks like the spy
[13:48] {dino} oak drop
[13:49] {nemo} timberrrrrrrr
[13:51] {Les} no luck of suckers Vad, or no LACK of suckers?
[13:52] {Les} you saying suckers can get lucky?
01[13:55] {Threei}  lack
[13:55] {Les} LOL readers might misinterpret you
[13:55] {Les} after metals crash, might be their lucky day :)
01[13:55] {Threei}  CAT valid
[13:58] {Les} GDX .40 b/d?
01[13:58] {Threei}  .40?
[13:59] {Les} sorry
[13:59] {Les} fcx
[13:59] {Les} picked up th eflu yesterday starting to flake out
01[13:59] {Threei}  FCX... nice chart
01[14:02] {Threei}  1:1
[14:08] {nemo} starting?
01[14:08] {Threei}  FCX 1:1 too
[14:08] {Les} C vad
[14:08] {Les} index pulling it back to earth
[14:09] {Les} .25 is a pivot support
01[14:09] {Threei}  man... 2 trades is not enough for you?
01[14:09] {Threei}  you want 3?
[14:09] {Les} just lining up the next duck
[14:10] {Les} dunno if relative strength is indicating something I should be wary of, but trying not to think about it
[14:10] {Will49} no thinking Les
01[14:10] {Threei}  CAT 1:2
[14:10] {Les} 1:2 me out cat ty sir
01[14:11] {Threei}  yw
[14:11] {dino} gj
[14:11] {Will49} tks Vad
01[14:11] {Threei}  :)
[14:12] {Les} .30 is piivot
[14:12] {Les} C
[14:13] {Les} .30 short holding .40?
01[14:14] {Threei}  hl
[14:14] {Les} k
[14:14] {Les} might call it aday actually on completion of FCX
01[14:17] {Threei}  CAT 1:3, out
[14:18] {Les} FCX covered .21
[14:18] {Les} c u's tomorrow
01[14:18] {Threei}  take care les
[14:18] {Will49} peace Las
[14:18] {Will49} Les
[14:18] {Les} cheers thanks for the fish
[14:18] {Les} pissed I missed GLD
[14:21] {backman} long FB .55
[14:33] {thomcbell} bcei is on a long radar been basing for a while here after alreay making a higher low intraday
[14:33] {thomcbell} but baby with the bathwater action still present
[14:34] {dino} still in it at .89
[14:37] {thomcbell} also hig looking kind of interesting to me long for trade back up to 27
01[14:44] {Threei}  nice entry on FB
[14:44] {backman} tu
01[14:44] {Threei}  getting this thing down eh
[14:44] {backman} :=)
[14:49] {dino} gld new lows
01[14:50] {Threei}  hard to believe
01[14:50] {Threei}  "safe asset," my a$$
01[14:51] {Threei}  remember Slovenia guy said they won't need a bailout and I offered him a bet?
01[14:51] {Threei}  (SI) Slovenia PM Bratusek: Budget situation is more serious than previously believed, 2013 budget projections were too optimistic; need more time to demonstrate Slovenia does not need a bailout
[14:52] {dino} when they say "no", go the other way
01[14:52] {Threei}  (ES) Moody's forecasts Spain real estate property prices decline for 5 additional years due to high unemployment, lack of available credit and weak economic growth
[14:54] {thomcbell} amazing what has happened to some of these energy names - cxo looked ok just 2 weeks ago - now 50sma rolling over slicing thru 200 with multiple gaps and down almost 20% in that time - goes with Vad's philosophy that selling comes out of nowhere and is fierce
[14:54] {dino} they always fall faster than they rise
01[14:55] {Threei}  (DE) Germany Chancellor Merkel: Basel III rules must be applied around the world, not just in Europe.
01[14:55] {Threei}  you conquer Europe first, OK? then we will talk about world
[14:56] {dino} out bcei .18, +.29
[14:56] {Will49} HAHA
[14:56] {Will49} re:Europe
[14:56] {thomcbell} we both hit sell at same time dino
[14:56] {dino} lol, had a stop on it
01[14:57] {Threei}  Headquarters of the Boston marathon reportedly is in lockdown following reports of multiple explosions near the finish line
[14:57] {dino} that must be whats dropping market
[15:00] {nemo} yeah, following it on
01[15:09] {Threei}  shit... this is not good
01[15:10] {Threei}  no word yet on the nature of explosion
[15:12] {dino} north koreans?
[15:28] {thomcbell} spx almost at lower channel
[15:35] {cc_9} Anyone here traded GLD/NUGT today ?
01[15:35] {Threei}  GLD, yes
[15:35] {cc_9} i have tears looking at the charts
01[15:35] {Threei}  got 132 long right after double bottom around 11:00
[15:42] {dino} any news on explosion?
[15:42] {nemo} no
[15:43] {nemo}
01[15:43] {Threei}  3 dead, dozens injured
[15:43] {dino} cause?
01[15:43] {Threei}  no official word yet
[15:44] {dino} i can't find anything eother
[15:44] {dino} either
01[15:44] {Threei}  preliminary is, explosive device in the litter can
[15:46] {backman} Fox news reporting at least 3 dead
[15:48] {thomcbell} boston globe said something about other devices are still being found
01[15:49] {Threei}  shotgun pellets in the device
[15:49] {thomcbell} heard that on bloomberg radio
[15:49] {Will49} sick, sick, sick
[15:51] {dino} what the hell's the matter with some people?
[15:51] {nemo} cmon' this is nothing compared to what goes on elsewhere
01[15:52] {Threei}  can you blame nemo for liking rabbits after that?
[15:52] {dino} it's cowardly
[15:52] {nemo} tactics and man's terrorist another man's freedom fighter
[15:54] {Will49} Thanks Vad, 6 of 7 makes one fine day (and one was a real doosey)
01[15:54] {Threei}  :)
01[15:56] {Threei}  OK guys, thank you all
[15:56] {nemo} gs reports after the bell
01[15:56] {Threei}  have a good evening, see you tomorrow
[15:57] {jdetente} gn all
[16:00] {dino} thx all, gn