Friday, June 14, 2013

June 14 2013

Very nice end to the week with 3 1:3ers and something else on top. One made Catch of the Day, having benefit of being found by a room member.


Session Time: Fri Jun 14 00:00:00 2013
[09:09] {jdetente} morning guys...
01[09:10] {&Threei}  morning jd
[09:10] {stevw} g'mornin lads
01[09:10] {&Threei}  stev :)
[09:11] {RonS} howdy everyone
01[09:11] {&Threei}  ron :)
[09:11] {backman} gm
01[09:12] {&Threei}  bman :)
[09:13] {RonS} hearing oil on a run...Syria?
01[09:13] {&Threei}  most likely... talk about WH considering no fly zone
[09:14] {Les} hello
01[09:14] {&Threei}  les :)
[09:19] {Will49} gm
01[09:19] {&Threei}  will :)
[09:21] {dino} gm
01[09:21] {&Threei}  dino :)
[09:24] {ese} gm
[09:24] {Alexs} gm
01[09:26] {&Threei}  ese, alex :)
[09:26] {nemo} could be one big consolidation day today
[09:27] {dptl} gm
01[09:28] {&Threei}  dp :)
[09:28] {Les} then again, you could be hit by lightning Nemo
[09:29] {RonS} and it might rain...
[09:29] {nemo} you have two big trend days in a row and it's a Summer Friday
[09:29] {RonS} Obama is authorizing lethal military aid to Syrian rebels under a classified order | http://bloom.bg/12tgxQr
[09:29] {nemo} probabilities
[09:30] {Les} fund raising Ron?
[09:31] {Les} ah missed the 2nd line of your post
01[09:32] {&Threei} Long Setup:  GDX  .82 break
01[09:32] {&Threei}  If holds  .75
[09:32] {+cc_9} Morning Gents
01[09:32] {&Threei}  cc9 :)
01[09:33] {&Threei} Long Setup:  FCX  .75 break
01[09:33] {&Threei}  If holds  .70
[09:35] {+cc_9} Scaling some SDS on 163.80 break
01[09:36] {&Threei}  1:1
[09:36] {nemo} in or out 9?
[09:36] {+cc_9} Scaling in once we break 163.80
[09:36] {dino} tm sm l .88
[09:36] {+cc_9} i dislike opex days, a lot.
[09:37] {robbers} Out FCX, thanks Vad.
[09:37] {jdetente} 1:@
01[09:37] {&Threei}  1:2
01[09:37] {&Threei}  yw
[09:38] {jdetente} out as well. Thanks Vad
[09:38] {dino} ete sm l .60
01[09:38] {&Threei}  1:3, over and out
01[09:38] {&Threei}  :)
[09:39] {Les} missed .05 took .99 ty
01[09:39] {&Threei}  not too shabby for 5 cents risk
[09:39] {Will49} nice start tks vad
[09:41] {+cc_9} EAC is an illiquid POS, but 15/60min charts look purdy
[09:41] {dino} ete stop .39 -.21
[09:43] {dino} re-load ete .50
[09:45] {+cc_9} EAC not bad for a dog
[09:46] {+cc_9} barely 100k volume but pushing $0.50+
01[09:48] {&Threei} Short Setup: GDX  .60 break
[09:49] {Les} short index drops to yesterdays low MIGHT produce workable db's
01[09:51] {&Threei} Long Setup:  CAT  .90 break hl
01[09:52] {&Threei}  If holds  .80
[09:52] {ese} dino......you gonna get a chance to see any of the US Open this weekend
[09:54] {dino} hopefully. its only about 120 miles from me
[09:55] {ese} that would be fabulous......wish I had that opportunity
[09:55] {ese} have you ever played Merion
[09:55] {dino} no, would like to
[09:55] {Les} sds .52 to .59 watching if it returns to test support
[09:56] {Les} would like a DB
[09:56] {jdetente} see ya CAT
01[09:56] {&Threei}  *(US) JUN PRELIMINARY UNIVERSITY OF MICHIGAN CONFIDENCE: 82.7 V 84.5E
[09:57] {Les} rest SDS stopped flat looking for potential new entry
[09:58] {Les} looks like market rip coming
[09:58] {jdetente} the train coming back to the station
[09:58] {+cc_9} did someone say "train" ?
[09:58] {Les} hehe
[09:58] {jdetente} hehe
[09:59] {Les} yeh ursine sodomy train departing
[09:59] {jdetente} I believe the train had some fancy name
[09:59] {ese} looks like michigan numbers not having any effect on the mrkt
[10:00] {Les} SDS low of yesterday here
[10:00] {Les} watching if holds .40 for potential .50 break
[10:02] {Les} oh boy
01[10:02] {&Threei}  frikin CAT
[10:02] {+cc_9} Les, SDS does not have any "support" or "resistance" per say, as it just tracks SPY 1:1
[10:02] {+cc_9} get your levels from SPY chart when trading SDS (imo)
[10:03] {nemo} going for the gap fills
[10:03] {Les} oh great a second Nemo
[10:03] {dino} ete to .95
[10:03] {Les} yeh right cc
[10:03] {nemo} how many times I told you that Les
[10:04] {dino} out ete .93, slip, +.43
[10:04] {RonS} the buyer of that block on ete at 56.70 drove it down to get that price...
[10:04] {Les} very small handle on 2 day cup in indexes
01[10:04] {&Threei} Short Setup: LVS  .90 break hl
01[10:04] {&Threei}  If holds  57
[10:05] {dino} yuo take it ron?
[10:07] {Les} IWM lower high
[10:08] {+cc_9} If anyone wants a 1:1 inverse for SPY thats cheap : SH
[10:08] {Les} watching IWM as it fails to tackle yesterdays highs and sits on .50 support here
[10:09] {dino} siro drop
[10:09] {RonS} yes ete .58 to .15 +.57 thanks dino
[10:10] {Will49} good one
01[10:10] {&Threei}  L:VS valid
[10:11] {dino} siro sm l .25
[10:13] {backman} LVS good for reentry here?
[10:13] {Les} IWM weakening can SPY Drag it back up
01[10:13] {&Threei}  reentry?
01[10:14] {&Threei}  it never got stopped or reached target
[10:14] {backman} OK got it....thouht it stopped at .99
[10:14] {+cc_9} Dog with fleas, but good dog nonetheless }} http://img211.imageshack.us/img211/8572/4q6t.jpg
[10:15] {+cc_9} Like I said, EAC was illiquid, but that reversal chart was pretty nice.
01[10:15] {&Threei}  stop is above 57, right?
[10:15] {backman} gpt ot
[10:16] {RonS} ?? bman...
[10:16] {Les} IWM fails backtest of .50 resistance
[10:16] {Les} long SDS .42
01[10:16] {&Threei}  come on Ron... that was "got it" typed with knees :)
01[10:16] {&Threei}  easy to read (if you tyoe the same which is my case)
[10:17] {RonS} lol
[10:17] {Les} shoudl be in tza not sds
[10:17] {+cc_9} Les, short term on 1min support  164.35, after that 164.10 and 163.90
01[10:18] {&Threei}  1 cent to 1:1 LVS... don't do it
[10:18] {jdetente} yes LVS don't be a son of a motherless goat
01[10:18] {&Threei}  right
01[10:19] {&Threei}  LVS felt burning shame and dropped to its knees
01[10:19] {&Threei}  pouring ashes on its head
[10:19] {jdetente} hehe
06[10:19] * pragmatic :)
01[10:20] {&Threei}  1: frikin 1
[10:20] {Les} yeh I c it out sds flat want another run at the top
[10:20] {Les} indexes
[10:21] {dino} relax les. you're thinking too much
01[10:22] {&Threei}  and it rarely ends well
[10:22] {jdetente} don't go into manic mode Les
06[10:23] * Les smack himself with 4X2 for being reminded not to think, seeks whisky bottle from cupboard
01[10:23] {&Threei}  last time I had a thought, migraines wouldn't stop for weeks
[10:23] {+cc_9} SPY flushes down to yesterday's closing price before 10:30AM
[10:24] {+cc_9} aka 164.20
[10:24] {backman} short jpm .72
[10:24] {Les} meh
[10:25] {robbers} Out LVS, thanks.
01[10:25] {&Threei}  1:1
01[10:25] {&Threei}  yw
01[10:26] {&Threei}  1:2
[10:26] {+cc_9} and there goes SPY :D, Les mad he sold his SDS
[10:26] {jdetente} alright LVS you're off the SoMG list for now
[10:27] {Les} stop talking to me
[10:27] {Les} :)
01[10:27] {&Threei}  {LVS} oh thank you, thank you! WANT ME TO GIVE YOU 1:3 FOR THIS?
[10:27] {+cc_9} check the clock, check SPY pps :)
[10:27] {+cc_9} all aboard the TRAIN
[10:27] {+cc_9} lol
[10:28] {Les} wasn't a 111 setup so I should know better
[10:28] {Les} TZA was though, which was what I was basing it off
[10:28] {Les} db down to .75 at 10am
[10:28] {+cc_9} naaaaaaaaaaaaaaailed
[10:29] {+cc_9} 10:23 cc_9 SPY flushes down to yesterday's closing price before 10:30AM
[10:29] {Les} u have courage of your convictions using SSO here?
[10:29] {+cc_9} im dumping SDS here Les
[10:29] {nemo} you can short sso Les
[10:29] {Les} SOMG CC
[10:29] {backman} out +.10
[10:29] {Les} sigh
[10:30] {Les} oh well at least getting the swing of it
[10:30] {Les} nah Nemo talking of long entry SSO looking for a setup
01[10:31] {&Threei}  good one bman
01[10:31] {&Threei}  clean DBI setup
[10:31] {+cc_9} Les, here is the trade (click) }} http://img259.imageshack.us/img259/5931/fr1p.jpg
[10:31] {backman} thanx....it failed around there yesterday
[10:32] {Les} so my entry was correct then just needed to sit tight gj
[10:32] {+cc_9} Yes, thing about SSO/SDS is you don't have to freak out
[10:32] {+cc_9} they are slow movers and give you plenty time and space to scale
[10:32] {+cc_9} no halt, no sudden crash etc...1:1 SPY but cheaper
[10:33] {Les} yeh better training ETF for me
[10:33] {+cc_9} too big a pullback ? scale SSO dump the quick bounce. Over extended run ? Scale SSO and dump the quick profit taking/fade
[10:34] {+cc_9} TNA/TZA same idea but too dangerous to learn on (3:1 speed IWM)
[10:36] {Alexs} fb long .40?
[10:36] {+cc_9} somg ?
[10:36] {Les} er... typo CC :)
[10:36] {+cc_9} ugh, had me spend 3 mins on urban dictionary
01[10:36] {&Threei}  yes alex, if SPY helps
[10:37] {Les} hehehe slip of the keyboard sorry
01[10:37] {&Threei}  cc9... SoMG is our latest addition to a room slang
01[10:37] {&Threei}  Son of a Motherless Goat... applied to stiocks that rinse our entries
[10:37] {Les} SDS cup and handle .60 entry
[10:38] {Les} holding .50
[10:38] {jdetente} it's from the Three Amigos cc9
[10:38] {+cc_9} hehe, SPY flush on time
[10:38] {jdetente} LVS delivered
[10:39] {+cc_9} too bad i also dumped my SDS Les
[10:39] {+cc_9} left about 400 gorillions on the table
[10:39] {Les} .60 is SSO premarket range area
[10:39] {dino} out vsiro .95, -.30
[10:40] {nemo} 163.85 WPP spy and channel bottom
01[10:40] {&Threei}  1:3
01[10:40] {&Threei}  life is good today
[10:40] {jdetente} hit 1:4 even but I was already out
[10:40] {Will49} out 1:3 tks vad
[10:40] {nemo} finnies bounce at bottom of channel
01[10:41] {&Threei}  :)
[10:41] {jdetente} nevermind misread the print
[10:41] {Les} TLT sitting on VWAP something to watch
[10:43] {dino} fslr drop
[10:46] {dino} sm l .74
[10:46] {+cc_9} FSLR diluting from its latest news
[10:47] {+cc_9} Les, still in your SDS ?
[10:47] {Les} god no, over thought the process and stopped out too early
[10:48] {Les} long sso .52 small
[10:48] {+cc_9} ok.
[10:49] {Les} but don't listen to me :) TLT held the vwap and bounced
[10:49] {Les} .05 stop
[10:49] {+cc_9} you are trading SSO with stop ?
[10:49] {Les} .45 stop
[10:49] {+cc_9} lol
[10:49] {+cc_9} So you are not actually scaling
[10:49] {Les} god no
[10:50] {Les} but I appreciate the reason you do
[10:50] {backman} long tza .28...
[10:51] {Les} no go
[10:51] {Les} dunno if yesterdays rally was head fake but looking like it
[10:52] {RonS} like nemo said...consolidation day is all...
[10:52] {Les} yeh so give me support to work with
[10:53] {Les} FAS at pivot waiting on IWM at 98 waiting on SPY
[10:53] {RonS} ok, let me find the computer's phone numbers...
[10:53] {Les} hehehe
[10:54] {backman} out +.07
[10:57] {+cc_9} scaling some SSO .33 , tgt SPY 163.90
[10:58] {+cc_9} added .23
[10:58] {Les} in this case I look for a quarter setup  cc
[10:59] {Les} .25 cross holding .15
[10:59] {+cc_9} gotcha
[10:59] {nemo} at MPP spy daily pivot finnies just above IWM
[10:59] {Les} SPY .50 is clear support too
[11:00] {Les} getting ugly
[11:00] {backman} TZA going nuts
[11:00] {Les} hope yer still in it bman
01[11:01] {&Threei}  and I don't even want to look at LVS
[11:01] {RonS} aif .50 break if hold .40?
[11:01] {RonS} aig
01[11:02] {&Threei}  chart is right
01[11:02] {&Threei}  SPY should be able to bounce enough to support it
[11:05] {Les} tlt big vol break. lose .50 and it might be time for equities
[11:07] {+cc_9} loaded SSO
[11:07] {+cc_9} tgt SPY unchanged 163.90
01[11:08] {&Threei}  that translates in SSO .60 roughly
01[11:08] {&Threei}  AIG 1:1
[11:08] {+cc_9} yup
[11:09] {Les} took .15/.05 SSO but scalped looked for the DB not sure gonna get it. hammer type candle at :06 might have been 2nd bottom
[11:10] {nemo} surprise surprise this swing low on finnies iwm and spy was 38.2 retrace of yesterday
[11:11] {Les} here's tlt setup if anyone looking for a trade
01[11:11] {&Threei}  good spot on AIG Ron :)
[11:11] {RonS} natchi Mr. Fibbie
[11:11] {RonS} yep
[11:12] {+cc_9} scaling out SSO on 163.75 break
[11:12] {dino} siro sm l .71
[11:14] {dino} wlk spike
[11:16] {dino} wlk sm s .05
[11:17] {+cc_9} Les, this is how I scale (click) }}} http://img705.imageshack.us/img705/7863/r756.jpg
01[11:19] {&Threei}  (US) WSJ's Hilsenrath: one thing has changed: Fed wants to stress tapering QE and tightening rates are two separate tracks - CNBC interview- Fed sending a very nuanced message; there is a risk that people are taking the wrong message from all of this talk about cutting back bond buying (i.e. tapering).
[11:19] {+cc_9} (yes, I should have added even more at 7310 but I held off in case of a bigger flush)
[11:20] {dino} tm gap fill
[11:21] {Les} It's an interesting SOP. I have to watch the index with the ETF I am using and coordinate the setup from that. So SPY .50/.40 was SSO .15/.05
[11:21] {nemo} wow...I've been saying that for years and it finally sinks in
[11:21] {Les} I seek out those key quarter numbers with support zones when Nemo can provide them. Still work in progress
[11:21] {nemo} Les, I gave you the spreadsheet
[11:22] {Les} don't use it dude
[11:22] {Les} got enough on my plate already
[11:22] {nemo} it's automatic...you just plug in the ticker and it gives you updated info
[11:22] {RonS} can lead a kangaroo to drink, then he punches you in the nose...
[11:22] {nemo} change the dates on a weekly basis and then monthly when necessary, done...calculates for you
[11:23] {Les} then have to go through charts redoing the frikin lines, which FSC may or may not remember
01[11:23] {&Threei}  rofl
[11:23] {Les} funny Ron
[11:23] {Les} happy to have someone around actively trading index ETF's
[11:23] {dino} cov wlk ave flat
[11:24] {+cc_9} There goes SPY bouncing Les.
[11:24] {dino} tricky day so far
[11:24] {dino} beasty boys market
[11:24] {+cc_9} Idea still intact. Market drop, slow scale, sell the bounce
01[11:24] {&Threei}  1:2
[11:24] {+cc_9} over extended run, short slow scale etc...
[11:25] {+cc_9} 10:56 cc_9     tgt SPY 163.90
[11:25] {+cc_9} ;)
[11:25] {RonS} aig .48 to .74 thanks 3i  +.26
[11:25] {Les} accredited as security guard on Wednesday so got weekend work lined up. Just wanna show up to work without rejigging charts once a week
[11:25] {nemo} it will likely try to test 164 vwap just above
01[11:25] {&Threei}  your find, your credit
[11:26] {RonS} ...your principles...
01[11:26] {&Threei}  1:3, out
[11:27] {+cc_9} Les, a little trick : SSO is priced at exactly 1/2 SPY's pps. So the movement you look for is 1:1 as far as penny increments. (both SPY and SSO are down the same amount in dollar value -0.44)
[11:28] {+cc_9} but of course, the important math is the % leverage.
[11:30] {Les} well no deviation from VAd's approach for me. Define it, hold it, enter and exit accordingly
[11:31] {Les} but when you're sniffing around for an entry I know to look myself
[11:31] {+cc_9} tgt was 163.90. SPY max on that bounce was 163.86
[11:32] {+cc_9} sorry guys, i misled you
06[11:32] * Les slaps cc_9 around a bit with a large trout
[11:32] {+cc_9} lol
01[11:32] {&Threei}  there goes your street cred
[11:33] {Les} GDX stopped at vwap here. can't define a setup on it yet
[11:36] {+cc_9} hey, off by $0.04, ill take that anyday :D
[11:37] {+cc_9} either or, another chance to load up on that last drop
[11:37] {+cc_9} and THERE is 163.90 !
[11:38] {+cc_9} ill eat that trout now Les.
[11:39] {dino} twc spike
[11:42] {RonS} Time Warner Cable $TWC said to not be interested in Charter
[11:45] {dino} fslr stop .44, -.31
[11:48] {+cc_9} Detroit Defaulting
[11:48] {jdetente} there's a surprise
[11:48] {+cc_9} market thinks so
[11:48] {dino} funny, during obummer's campaign he bragged about detroit coming back
[11:48] {jdetente} I had to spend half of last year in that pos city
[11:49] {jdetente} people there were really nice but it's like being in a bombed out war zone
[11:49] {dino} no desire to go there
[11:50] {jdetente} I worked for Quicken Loans last year and had to split time there...
[11:50] {RonS} ya dino...pats of DC close enough...
[11:50] {RonS} parts
[11:50] {dino} yeah, same w/parts of philly
[11:51] {Les} looking for new long setup
[11:52] {+cc_9} SPY wondering if this news out of Detroit is good or bad news
[11:52] {RonS} most hated cities here:  1. Omaha 2. Philly 3. Little Rock
[11:53] {ese} hated for what
[11:54] {RonS} wprst landcape ever seen:  eastern new mexico/West Texas....all should be in one state
[11:55] {RonS} creepy/uncomfortable places ese...plus since been in 150 cities approx...a comparative...
[11:55] {ese} hmmmmm
[11:56] {ese} L irm .85
[11:56] {Les} IWM works partialling from .00 entry
[11:56] {+cc_9} Hey Les
[11:57] {+cc_9} This one for you (click) }}} http://img545.imageshack.us/img545/4317/4qs.jpg
[11:57] {+cc_9} :D
[11:57] {Les} gj saw it
[11:57] {Les} preferred using IWM round number
[11:58] {Les} IWM resistnace is .20 let's see if market puke is finished
[11:58] {+cc_9} all good.
[11:59] {RonS} twc going again...
[11:59] {dino} chtr spike
[11:59] {Les} got off 1:2 iwm at .19
[11:59] {Les} holding last piece for breakout
[12:01] {dino} twc sm s .90
[12:03] {dino} twc stop .24 -.34
[12:04] {Alexs} jpm long .40?
[12:05] {+cc_9} All done for today Les }}} http://img855.imageshack.us/img855/2638/0xt0.jpg
[12:05] {+cc_9} will wash rinse repeat Monday.
[12:05] {Les} cheers
01[12:06] {&Threei}  no confident read on this one Alex
[12:06] {Alexs} k
[12:07] {dino} twc sm s .65
[12:07] {Les} do come again cc I enjoy the tutelage :)
[12:08] {dino} twc stopped again. taking a break
[12:10] {dino} rinsed
[12:13] {ese} irm is worth a  watch dino...........have been stalking this for a week.....selling is tapering off and so it should get sucked into that void between 29 and 34 here shortly
[12:14] {ese} went long here at .85...but i have a  hunch it'll make it's run next week
[12:16] {dino} seems to be stuck 28-60-29.05
[12:16] {RonS} guess could happen ese but runup due to reit conversion plan...w/ irs saying conversion must toe 75%+ of rev must come from real estate...must ask why would it?
[12:17] {ese} agreed
[12:20] {ese} well.....when retail sold those shs last friday somebody had to buy them.....anyone making a mrkt in this one is gonna want to make some money so they try to ramp it up i figure......same old story.....might not work but it works most of the time...we'll see......in the mean time i'm up $200.00 bucks
[12:21] {ese} by retail i mean dumb money
[12:22] {ese} just a bigger version of vads scalping techniques
[12:22] {ese} and.............if i'm wrong......the stop loss is in and i've been for a good education
[12:22] {dino} lol
[12:23] {ese} not been....paid
[12:24] {dino} i don't know ese. i just see it stuck in that .40 range
[12:25] {ese} ya you could be right dino.......
[12:26] {dino} never know unless you bet
[12:26] {dino} gl on it
[12:26] {dino} jazz spike
[12:27] {ese} theres still value in this stock though.......i figue it to be about 36.00.....but thats not saying it'll get there
[12:27] {ese} tks
01[12:27] {&Threei}  somewhat unusual flower: http://goo.gl/W5WUi
[12:27] {dino} np....i don't figure values. k.i.s.s. theory
[12:27] {ese} am almost up 300 bucks anyway.......what the hell
[12:27] {ese} i'll take it
[12:28] {ese} lol
[12:28] {Les} vad any way of defaulting links away from IE to Chrome when using Mirc?
01[12:28] {&Threei}  if your default browser is Chrome, mirc should follow it
[12:29] {Les} probably from when I first started using Mirc
[12:29] {Les} wanna change it
01[12:29] {&Threei}  globally on your comp, is Chrome a default browser?
[12:29] {Les} yeh
[12:30] {dino} out siro .22, +.51
01[12:30] {&Threei}  I don't think mirc has its own setting for that, it should open in your default
[12:31] {Les} k
[12:32] {backman} C sitting just above day low
01[12:32] {&Threei}  so's JPM
[12:53] {dino} twc again spike
[12:53] {ese} gotta go all....school picnic today....have a great weekend all cya monday
01[12:55] {&Threei}  take care ese
[12:55] {dino} cya
[12:57] {RonS} wow wlt
01[12:58] {&Threei}  LINE is getting hit
[12:59] {+cc_9} oh wow
[13:03] {RonS} wlt halt?
01[13:04] {&Threei}  yes
01[13:04] {&Threei}  curcuit breaker
01[13:04] {&Threei}  Walter Energy, Inc. Said to have withdrawn $1.55B loan refinancing deal due to market conditions - Forbes (update)- Forbes notes that this is the 10th loan issue to postpone or pull such a transaction due to market volatility.
[13:17] {dino} e drop
[13:19] {RonS} e- lower?
[13:19] {dino} fast drop
[13:19] {dino} looking for bounce
01[13:20] {&Threei}  LINE Linn Energy, LLC Investor relations contact notes that the Berry Petroleum deal remains on track- Blamed the recent stock declines on short sellers and hedgefunds.
01[13:20] {&Threei}  really?
01[13:20] {&Threei}  now I want to short it
[13:20] {RonS} lol
[13:20] {dino} e sm l .58
01[13:21] {&Threei}  every time company starts whining about short sellers, it's a surefire sign of troubles
[13:23] {+cc_9} SPY hanging off a thread, max opex pain
[13:25] {RonS} where do you get that info cc...??
[13:26] {+cc_9} its not a secret that today is options expiration
[13:26] {nemo} wow, so much for consolidation
[13:26] {RonS} but you are effectively picking a pin number...also only weely opex...jus sayin...
[13:27] {RonS} weekly
[13:28] {RonS} all the "free" max pain sites I know of have moved to a sub model...
[13:28] {dino} next fri ops exp, 3rd friday each month
[13:28] {+cc_9} i don't think im following what you are saying Ron
[13:28] {+cc_9} days like today, i track the big active option stocks, like GOOG
[13:29] {+cc_9} and try to guesstimate a possible pin close
[13:29] {RonS} Les is the only guy allowed not to count here cc...:)
[13:32] {+cc_9} whoa
[13:32] {+cc_9} what the hell is this movement on SPY
[13:32] {+cc_9} was it just me getting a flood of data or everyone got these high low wicks on the last 1 min
[13:32] {nemo} this is 50% retrace of yesterday
[13:33] {nemo} plus it's a whole number
[13:33] {RonS} but, the big Q:  is it gluten free?
[13:34] {+cc_9} 163.20 both interim wall and also breakout on 1min
[13:35] {+cc_9} market up @ open, stocktwits "long guys, gotta be long"
[13:35] {+cc_9} market on a fade here, stocktwits "haha who is buying this! 160 wont hold"
[13:36] {+cc_9} ugh...
[13:38] {Will49} what atwit eh?
[13:38] {Will49} a twit..
[13:40] {nemo} indexes flashing long here
[13:40] {+cc_9} SPY this last downtick was exactly $0.01 below previous LOD. must be hunting for stops
[13:41] {nemo} that's what the hft sniffer programs do, look for stops and which way the order flow is leaning, then pushes the other way
[13:42] {jdetente} took another short UVXY similar to yesterday...covering here +.52
[13:43] {+cc_9} SPY just sitting there now, strange
[13:43] {+cc_9} it usually pulls a way or another at these levels
[13:43] {+cc_9} spoke right on time lol
[13:43] {jdetente} well dang what a difference 5 seconds makes
[13:43] {jdetente} haha
[13:44] {nemo} go write a SALT treaty or somethin'
[13:44] {+cc_9} i just want to see 163.20 on the bid SPY
[13:44] {+cc_9} otherwise we get another trap for fresh lows.
[13:44] {nemo} should test that resistance
[13:45] {+cc_9} closing in
[13:45] {+cc_9} knocking
[13:46] {+cc_9} push
[13:47] {+cc_9} 163.20 wall @ work
[13:47] {+cc_9} jesus christ, that wick lol
[13:47] {nemo} 'wall might be a little strong, divider, shoji screen...meh
[13:47] {dptl} long CRM .71 will keep .64 as stop tight
[13:48] {+cc_9} we crush .20
[13:48] {+cc_9} and fly easy
[13:48] {+cc_9} 13:34 cc_9 163.20 both interim wall and also breakout on 1min
[13:49] {nemo} whaddya' mean by "interim"?
[13:49] {+cc_9} short term
[13:50] {dino} e stop .43 -.15
[13:50] {+cc_9} im going to stop all inhalation. Will only breath once 163.20 on the bid
[13:50] {+cc_9} pray for me fellas
[13:51] {jdetente} countdown
[13:51] {jdetente} cc going to pass out
01[13:51] {&Threei}  that blue shade in face can't be healthy...
[13:51] {+cc_9} ffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffff
[13:51] {nemo} call me when you need an exorcism
[13:51] {jdetente} he's dead
[13:52] {dptl} nope stoped CRM
[13:52] {dino} i can see him
[13:52] {RonS} send Les to give him mouth to mouth...
[13:52] {+cc_9} ok guys im ok im fine
[13:52] {+cc_9} dont send anyone
[13:52] {+cc_9} i cheated
01[13:52] {&Threei}  too lare cc... Les is on his way
01[13:52] {&Threei}  late
[13:53] {jdetente} and he brought his leiderhosen
[13:53] {+cc_9} well damn it, that 163.20 was stronger than I thought.
[13:54] {RonS} and he's gonna hosen you sooner that leider...
[13:54] {RonS} than
[13:54] {+cc_9} lol
[13:56] {+cc_9} not looking good
01[13:57] {&Threei}  lol
[13:57] {+cc_9} took 10mins to climb to resistance and 2 minutes flat go give it all back
[13:57] {+cc_9} on very light volume
[13:57] {+cc_9} 1min SPY volume bar @ 1:52PM is a joke
01[13:59] {&Threei}  damn, jd, you owe me another keyboard
01[13:59] {&Threei}  and ron
01[13:59] {&Threei}  you can share the cost
[14:00] {jdetente} there is a method to my madness
[14:00] {jdetente} I own a keyboard company
01[14:00] {&Threei}  oh good, then Ron only spends on shipping
[14:01] {jdetente} keep eating them and spilling coffee on them hehe
[14:01] {+cc_9} milking the time on the clock (opex)
01[14:01] {&Threei}  btw... do you have any with engraved letters that wouldn't fade away?? I seem to have a sandpaper on my fingertips, destroying those letters in a few months
[14:02] {jdetente} yes we call that the Ukrainian Executive model
[14:03] {nemo} see that tweetofGod?
[14:05] {backman} TZA...above .80?
01[14:05] {&Threei}  worth a try but chances are like 52/48
[14:05] {jdetente} that's a good one nemo...
[14:06] {Les} W;LT inverted cup an dhandle
[14:06] {Les} .10 break
[14:06] {jdetente} "Priests should not have to live in a state of forced celibacy, but be free to marry and let celibacy slowly descend upon them the usual way."
[14:06] {jdetente} from TweetofGod
[14:06] {dino} twc sm s .58
[14:06] {nemo} fas and iwm looking long
[14:07] {+cc_9} I don't think ive ever had to beg for $0.10...
[14:07] {+cc_9} 163.20 on bid god damn it
[14:07] {jdetente} here it comes again cc...are you holding your breath again?
[14:07] {nemo} keep the KY handy
[14:08] {+cc_9} im trying to sell SSO .93 / 94
[14:09] {Les} thanks Nemo was a bout to log off. iwm .60 break is good
[14:09] {+cc_9} HUUURAAAAAAAAAAAY
[14:09] {+cc_9} all out lol
[14:09] {Les} scalp only
[14:09] {Les} spy smack into pivot
[14:10] {Les} what was yer setup cc?
[14:10] {nemo} will likely go to vwap
[14:10] {+cc_9} loaded SSO on the drop 163 SPY
[14:10] {+cc_9} kept adding
[14:10] {+cc_9} ended up 5k shares
[14:10] {Les} lol living dangerously
[14:11] {nemo} what was your stop, or did you partial along the way?
[14:11] {jdetente} yeah no kidding...wearing diaper?
[14:11] {+cc_9} ok, all done, here is my P&L (click) }}} http://img35.imageshack.us/img35/8497/lqpv.jpg
[14:11] {Les} good day. less buying anything, more profitable entries. Will leave it here
[14:12] {RonS} omg wlt halt again
[14:12] {dino} cov twc .18, +.40
[14:12] {Les} c u's monday, gotta find my boy at the local fair
[14:12] {nemo} not if he's lucky
[14:12] {Les} dumbass
[14:12] {Les} a+
[14:12] {RonS} lol
[14:13] {nemo} he provides endless material
[14:13] {+cc_9} lol take care
[14:19] {+cc_9} someone give me back those 5k SSO shares
[14:19] {+cc_9} #$%@#$%@#%$#%
[14:20] {nemo} vwap run, but pivot could hold it up
01[14:20] {&Threei}  TZA never triggered... probably to the best
[14:20] {nemo} short iwm,
[14:20] {+cc_9} NOOOOOOOOOOOOO
[14:21] {nemo} they either want a doji on the day or new highs
[14:21] {jdetente} seller's remorse?
[14:21] {+cc_9} only left about $2,000 or so on the table
[14:21] {+cc_9} ugh...
[14:21] {jdetente} that stings a bit
[14:21] {+cc_9} 163.20 was the key
[14:21] {nemo} what's interesting is it came back to support at old resistance perfectly
[14:22] {+cc_9} draw a line there u will see both wall on the first attempt and support on the slight fade once it broke it
[14:22] {+cc_9} yes nemo
[14:22] {Alexs} did we have set up on TZA Vad?
[14:22] {+cc_9} this is why i track SPY every single trading day
[14:22] {nemo} yeah, I have IWM SPY and FAS up at all times
[14:23] {dino} c l .45
01[14:24] {&Threei}  discussed .80 break a while ago... I was lukewarm on it
[14:24] {Alexs} ok
01[14:46] {&Threei} Short Setup: GDX  .20 break
01[14:46] {&Threei}  If holds  .30
[14:49] {dino} c stop -.10
[14:53] {nemo} http://on.fb.me/11eKwKg
[14:54] {jdetente} friend of yours?
[14:56] {nemo} I give animals the benefit of the doubt over humans
[14:57] {jdetente} wise
[15:02] {RonS} those guys destroyed the abalone industry in the '70's when they became protected, then spawned shark attacks on the surfers when their population soared...no fan here...
[15:04] {nemo} idiot humans...not there fault
[15:04] {nemo} their
[15:04] {RonS} had friends who were ab divers, and surfers who were attacked...
[15:05] {nemo} animals just play their role, Nature figures out how to balance them out, and humans fuck it up
[15:05] {nemo} We have a problem of MA with great whites because of the seal population
[15:05] {Will49} as Vad says...it's the thinking that's the problem
[15:06] {+cc_9} ok fellas
[15:06] {+cc_9} catch u all Monday
[15:06] {+cc_9} for more breath holding
[15:06] {Will49} peace cc
[15:06] {+cc_9} you all have a great weekend
[15:06] {RonS} ccya-9...
[15:06] {dino} cya cc, gj
01[15:06] {&Threei}  and the more we think the deeper problems we create... in our smag confidence that we can actually think up something better than nature did
01[15:06] {&Threei}  take care cc
[15:07] {Will49} I love the line used when something gets screwed up
[15:07] {Will49} "our best thinking got us here"
01[15:07] {&Threei}  yup :)
[15:08] {Alexs} bby short .70?
01[15:09] {&Threei}  looks nice
01[15:09] {&Threei}  yesah, I'll try that
[15:15] {RonS} fb   product event 6/20 announced...
01[15:16] {&Threei}  do they add Dislike button?
[15:16] {nemo} I want a HATE! button
[15:16] {RonS} bet here...NSA direct button...
[15:20] {Alexs} looks like GDX moves in the opposite direction to the GLD
01[15:20] {&Threei}  more tied with SLW than GLD right now
[15:21] {Alexs} why?
[15:21] {nemo} I remember my uncle showed me an arial view of his house...very detailed
[15:22] {nemo} He worked at Ft. Meade, I think a friend of his over in the Recon office was testing one of the Keyhole Sattellites and took a picture and sent it to him...I forgot the whole story it was so long ago
[15:22] {RonS} talking to bunny?
[15:22] {nemo} I was 14 I think, and I said, "What was a plane taking pictures of your house for?"
[15:23] {nemo} yep...that would be early 70's
01[15:23] {&Threei}  well GDX is miners
01[15:23] {&Threei}  SLW is miner, and one of major ones
[15:23] {nemo} and GDXJ is....?
[15:24] {nemo} actually SLW is not a miner
01[15:24] {&Threei}  minor miners
01[15:24] {&Threei}  well, it's a conglomerate of miners to be more precise
01[15:24] {&Threei}  of sorts
[15:24] {dino} roc spike
[15:24] {nemo} I believe they are basically a brokerage that buys up the production of different miners
[15:24] {backman} FB found some love
[15:24] {dino} sm s .00
01[15:24] {&Threei}  proxy enough to be a solidl weight in GDX
[15:24] {nemo} must be because of the baby seal video
01[15:25] {&Threei}  right
[15:29] {dino} cov roc .70, +.30
01[15:31] {&Threei}  Facebook To host new product launch on June 20th - Engadget- Engadget speculates Facebook may be launching an RSS reader.
01[15:31] {&Threei}  really?
[15:32] {jdetente} desperate
01[15:32] {&Threei}  what an incredibler innovation
[15:32] {jdetente} look...we did, something!
01[15:32] {&Threei}  hashtag...
01[15:32] {&Threei}  now RSS...
[15:32] {jdetente} #desperationlossofsharevalue
[15:32] {Will49} lol
[15:33] {dino} whats next, smiley faces
01[15:33] {&Threei}  what's next, tabs?
01[15:33] {&Threei}  ah yes, smilies!
01[15:33] {&Threei}  you got it dino
[15:33] {dino} hope they don't add your trout slap
06[15:33] * dino slaps Threei around a bit with a large trout
[15:34] {Alexs} lol
01[15:34] {&Threei}  lol
01[15:35] {&Threei}  if you make it smoked throut I"ll skip shower
01[15:35] {&Threei}  trout
[15:35] {dino} lol
[15:35] {jdetente} oh no
[15:36] {Alexs} I don't understand why GDX SLW move opposite the GLD
01[15:36] {&Threei}  I think it's not so much opposite as independent
01[15:38] {&Threei}  also look at ABX
01[15:38] {&Threei}  one of big names in gold mining
01[15:39] {&Threei}  if not the biggest
01[15:39] {&Threei}  miners don't move on gold price only, there are other factors
01[15:39] {&Threei}  1:1
01[15:40] {&Threei}  Fur Boots song is back
[15:40] {jdetente} scalp for me..thanks
01[15:40] {&Threei}  I missed it...
01[15:40] {&Threei}  yw
[15:40] {Alexs} but today it looks exactly opposite
[15:41] {dino} rgld and gold down
01[15:41] {&Threei}  why... look at spike in GLD rght after 10
01[15:41] {&Threei}  GDX went up too, although to a lesser degree
01[15:42] {&Threei}  it's just much weaker than metal
01[15:42] {&Threei}  as for why, well... it's not like each and every move needs to have a backstory
[15:42] {Alexs} yeah lol
01[15:43] {&Threei}  some of them are because of shares rebelancing, supply and demand caused by million factors
01[15:43] {&Threei}  and some of them are just because
[15:43] {dino} some may be people raising cash just want out
01[15:44] {&Threei}  on my seminars, when I talk about impossibility to know everything and analyze and predict every move, I like citing this hypotheticalscenario:
01[15:44] {&Threei}  imagine a big fund owner who has big stake in your stock coming home and finding his wife in a bed with a pool boy
01[15:45] {&Threei}  guy throws him out of the windowm, her out of the door,
01[15:45] {&Threei}  calls his attorney
01[15:45] {&Threei}  it becomes clear to him that he faces messy and costly divorce,
01[15:45] {&Threei}  he designs a strategy to minimize damage,
01[15:46] {&Threei}  and one of the moves in this strategy is diminishing his exposure to stocks and using much more liquid cash
01[15:46] {&Threei}  Next morning your stock gets hit with his selling.
01[15:46] {&Threei}  Predict this!
[15:46] {Alexs} lol
01[15:47] {&Threei}  Every time you see a market guru telling you that he knows how to analyze everything and figure out the future, you know you deal with a fraudster or idiot
01[15:47] {&Threei}  whatever you pick, you want to stay away from him :)
[15:47] {thomcbell} i just sign in and a magical comment from Vad
01[15:47] {&Threei}  lol
[15:48] {dino} vad explaining the facts of life
01[15:48] {&Threei}  you missed a story before that... but it will be in a log :)
[15:49] {RonS} wlt not gonna open....can you imagine holding...ooof...waiting for the ooga booga...
[15:49] {dino} i want to know if the pool was for billards or swimming
[15:49] {RonS} lol
01[15:49] {&Threei}  when you read all those internet blogs and forums, you can't help buit get amazed how many people actually understand this
01[15:49] {&Threei}  I meant how few
[15:50] {RonS} fortunate here that one is Les...
01[15:50] {&Threei}  my assumption would be, swimming
[15:50] {RonS} Nemo, not so much...
[15:50] {RonS} :D
01[15:50] {&Threei}  they involve more service than billliards :)
[15:50] {dino} roc sm s .15
01[15:51] {&Threei}  OK guys, we end this uneven week on a very good note
01[15:51] {&Threei}  strong day, with 3 1:3ers
01[15:51] {&Threei}  and a few scalps
01[15:52] {&Threei}  have a great weekend, see you Monday!
[15:52] {Will49} cheers
[15:53] {dino} stop roc .34 -.19
[15:53] {dino} calling it a week, thx all
[15:54] {Alexs} now GDX moves like GLD. So everything is OK with GDX owner's wife :)
[15:54] {dino} lol