Friday, July 12, 2013

July 12 2013

Adjustment measures planned for today took place and turned fruitful - profitable (albeit boring) day. 

Session Time: Fri Jul 12 00:00:00 2013
[08:52] {nemo} I don't know what to do...there's no gap.
[09:04] {nemo}
[09:23] {jdetente} good morning
01[09:23] {&Threei}  jd :)
[09:24] {RonS} buenos dias
01[09:24] {&Threei}  ron :)
[09:25] {Alexs} gm
01[09:25] {&Threei}  alex :)
[09:30] {cipher} gm
[09:30] {bbobr} gm
01[09:30] {&Threei}  cipher, bbobr :)
01[09:31] {&Threei} Long Setup:  TZA  .50 break
01[09:31] {&Threei}  If holds  .45
01[09:33] {&Threei}  half out .58
01[09:34] {&Threei}  stop .48
[09:36] {+cc_9} morning folks
01[09:37] {&Threei}  cc9 :)
01[09:40] {&Threei}  holding by fingertips
[09:41] {ese} morning L wfc .60
01[09:41] {&Threei}  ese :)
01[09:42] {&Threei}  good boy TZA, held like a champ
01[09:42] {&Threei}  move to 1:2 now
01[09:43] {&Threei}  the more I look the more I believe market read in Ben's speech what it wanted and not what ben actually said
01[09:43] {&Threei}  so I'd expect gravity to start taking over
01[09:49] {&Threei} Short Setup: GDX  .65 break
01[09:49] {&Threei}  If holds  .70
01[09:50] {&Threei}  closed TZA
01[09:51] {&Threei}  cipher, watching UPS?
[09:54] {cipher} I will be
01[09:54] {&Threei}  has more downside at the moment I believe
01[09:55] {&Threei}  but hey... it's your domain, you know better how to play those
01[09:59] {&Threei}  out GDX
01[10:02] {&Threei} Short Setup: CAT  87 break
01[10:03] {&Threei}  If holds  .05
01[10:04] {&Threei}  1:1
01[10:05] {&Threei}  Edward Snowden will ask Russia for political asylum, participant in meeting says
[10:05] {Alexs} what meeting do u have Vad?
[10:05] {ese} wtf was I thinkin with hits 43 and i was looking at another stock and now it's retraced wtf 400 bills dn the tubes damn it
01[10:06] {&Threei}  I have an all-important meeting with 5 lb box of blueberry alex... nd I suspect it's not going to survive it
[10:07] {Alexs} lol
01[10:08] {&Threei}  I have a lot of experience in defeating those beasts
01[10:08] {&Threei}  Dimon on CNBC in a few
01[10:09] {&Threei}  1:2 is close enough
01[10:09] {&Threei}  1/4 more out
[10:11] {Alexs} so CAT is a new strategy of setups?
01[10:11] {&Threei}  no, this one is still normal... double top
01[10:12] {&Threei}  as soon as volume dies, changing to fades
[10:12] {Alexs} where are the tops?
01[10:12] {&Threei}  9:51 is first
01[10:12] {&Threei}  second is the one we shorted
[10:12] {Alexs} ah ok
[10:19] {RonS} que' lastima:  Homeland Security Sec. Napolitano resigns for new post as head of Univ. of Calif. system, officials say
[10:20] {jdetente} oh great
[10:20] {jdetente} now we have to deal with her
[10:21] {nemo} you can move
[10:22] {jdetente} to Mexico maybe
01[10:22] {&Threei}  if you move with every politcian you dislike poppiung up in your neck of the woods, Jupiter will become your only option very soon
[10:22] {RonS} that position does nothing but try to raise money...think Jesse Jackson in a skirt...uh...well maybe not...
[10:22] {jdetente} hot stuff Ron
01[10:22] {&Threei}  yikes... lol
[10:23] {jdetente} I was thinking more like linebacker in skirt
[10:23] {RonS} lol
[10:23] {jdetente} or female lumberjack
[10:24] {RonS} knew some daughters of lumberjacks when in NW...definition of brick shithouses...
[10:24] {jdetente} man Ron why you getting all biblical?
[10:26] {RonS} guess jd reads the Bible on the can...
01[10:27] {&Threei}  rofl
01[10:27] {&Threei} Long Setup:  TZA  .35 break
01[10:27] {&Threei}  If holds  .30
[10:27] {jdetente} lol
01[10:31] {&Threei}  Wells Fargo & Co Exec: Housing market is showing strong momentum; company's leverage ratios will exceed the proposed levels - conf call- Rates rising "for the right reasons" would benefit Wells and our customers. - Expecting net interest margin to come under continued pressure
01[10:31] {&Threei}  next Cyprus?
01[10:31] {&Threei}  (MT) IMF: Malta economy remains vulnerable to fiscal and external risks- IMF sees Malta 2013 GDP 1.3%, 2014 at 1.6% - Malta banks have heavy exposure to local property market
[10:32] {jdetente} sounds like Cyprus
[10:33] {RonS} but has falcons...
01[10:34] {&Threei}  lol
[10:36] {RonS} lol...just thinking jd probably too young to get it...over there thinking...what?
[10:36] {nemo} mmhhhh, spy gonna' break out?
01[10:37] {&Threei}  out TZA
[10:37] {jdetente} ha I know the movie Ron
[10:39] {RonS} awww...did they hurt his feelings?:  President Obama tells Chinese officials he’s disappointed with China’s handling of Snowden case
01[10:41] {&Threei}  after all he has done for them....
[10:46] {RonS} tza l .13
[10:50] {RonS} out .28 +.15
01[10:50] {&Threei}  wtg
[10:51] {RonS} ty...capit volume bar was memory of dino...
[10:54] {RonS} snta drop
[10:59] {nemo}
01[11:00] {&Threei} Short Setup: CAT  87 break
01[11:00] {&Threei}  If holds  .05
[11:03] {nemo} oxy looks short
01[11:15] {&Threei} Short Setup: FCX  .20 break
01[11:15] {&Threei}  If holds  .25
[11:19] {+cc_9} glued since 10:52 on the previous close (SPY)
[11:19] {+cc_9} yawn
01[11:26] {&Threei}  half out
01[11:27] {&Threei}  SOY glued, nailed down and velcroed to .45
01[11:27] {&Threei}  SPY
[11:31] {Alexs} stop FCX .21 now?
01[11:32] {&Threei}  yup
01[11:32] {&Threei}  btw, that was fade trade
01[11:38] {&Threei}  1/4 more out
01[11:38] {&Threei}  stop to .16
[11:42] {nemo} iwm might be long at trend here, hard to tell
[11:46] {+cc_9} massive sell block on SPY 1min
[11:46] {nemo} somebody throwing a brick trying to liven things up
[11:47] {nemo} things get any better we'll have to call the undertaker
[11:52] {+cc_9} Going long this drop SPY
[11:56] {Alexs} what's your target on SPY cc?
[11:58] {+cc_9} i expect another drop, im scaling for now
[11:58] {+cc_9} my tgt 167.40
[11:58] {+cc_9} a few cents below yesterday's closing price
[11:59] {Alexs} thanks
[12:00] {+cc_9} if u draw a line @ 167.21
[12:00] {+cc_9} you will see previous intraday support now resistance
[12:00] {+cc_9} so thats the # we need to crack for a bit of a reversal, for now, still wall.
[12:11] {nemo} indexes looking short
[12:12] {+cc_9} IWM looks relatively strong
[12:12] {+cc_9} hit 102.50s support and bounced
01[12:12] {&Threei}  stop at .11 btw
[12:15] {nemo} could...late
[12:15] {nemo} nevermind
[12:16] {+cc_9} IWM holding up much better than SPY
[12:17] {nemo} finnies having a rough time too
[12:17] {nemo} o.k. could make an argument for trip here if it stays under .35
[12:17] {nemo} short
[12:21] {nemo} watch for celg short 133.70-80 area
[12:21] {+cc_9} i dont see finnies having rough time
[12:21] {+cc_9} FAS is over its previous close
[12:21] {nemo} this area to .80 important
[12:22] {+cc_9} finnies actually doing the best out of all sectors today :
[12:22] {nemo} well, celg got to .70
[12:23] {nemo} this is daily pivot on spy might hold it
[12:24] {nemo} range day, they're testing the bottom and holding so unless it drops it, likely to move to check the other side
[12:28] {nemo} trip bounce between 61 and 61.05
[12:30] {+cc_9} SPY stuck on that 161.20 level, regardless of volume, stuck.
[12:31] {nemo} what level?
[12:31] {+cc_9} the number before the word level
[12:32] {nemo} you mean 167?
[12:32] {+cc_9} 161.20
[12:32] {+cc_9} yes 167.20
[12:32] {+cc_9} going blind
[12:32] {nemo} start early today 9?
[12:32] {+cc_9} cc_9 if u draw a line @ 167.21 12:00 cc_9 you will see previous intraday support now resistance
[12:32] {+cc_9} redemption post
[12:32] {nemo} and .20 is the daily pivot
[12:33] {nemo} or .19 actually
[12:33] {nemo} ups bounce point
[12:35] {+cc_9} if gonna flush, just flush already, taking 1 hour to see the inevitable is a waste of time
[12:35] {nemo} summer trading
[12:35] {+cc_9} flush, get what you need, stack bids, wash rinse repeat. Seesaw for that algo spread commission is getting lame
[12:35] {nemo} good time to rearrange the sock drawer
[12:35] {nemo} clean the bellybutton lint
[12:35] {nemo} scrape the toe jam
[12:40] {+cc_9} come back nemo, we're moving now
[12:40] {+cc_9} put that toe down
[12:43] {+cc_9} closing in on that 167.40 target
[12:43] {+cc_9} alex, hope you making some dough
[12:43] {Alexs} yep thanks
[12:44] {+cc_9} solid.
[12:49] {jdetente} Alright guys. Gotta leave early. Going to be in and out of town for a month. Won't be back til mid August.  Hope everyone has good trading.
[12:50] {RonS} take care jd
[12:53] {jdetente} oh and make sure you all stay well caffeinated and drunk for this summer trading
[12:54] {+cc_9} Anyone feeling good, BA is a nice chart to watch for rest of the day
01[12:54] {&Threei}  take care jd
[12:56] {Alexs} so long jd
[13:01] {+cc_9} Grabbing some BA shares for shits and giggles
[13:02] {Alexs} lol watching it
[13:03] {nemo} yeah, trade this shit
[13:03] {+cc_9} out of the blue SPY tank
[13:03] {+cc_9} wowza
[13:03] {nemo} Fed Bullard statement
[13:04] {nemo} bohica
[13:04] {thomcbell} ddd long setup 48.23 break if holding 48.12
[13:04] {+cc_9} BA coming back
[13:04] {+cc_9} hehe
[13:06] {Alexs} out BA got some easy money
[13:07] {+cc_9} nice Alex
[13:07] {+cc_9} im sitting for a 101 breakout
[13:07] {+cc_9} here we go
[13:09] {+cc_9} easy $$$$
[13:10] {+cc_9} Alex }}}
[13:10] {+cc_9} ;)
[13:10] {+cc_9} my BA trading mate
[13:11] {Alexs} nice :)
[13:12] {+cc_9} i started with 100 shares
[13:12] {+cc_9} then i figured its just a fire on a plane, no biggie
[13:12] {+cc_9} so bot another 1k
[13:12] {+cc_9} lol
[13:13] {+cc_9} lol @ stable
[13:15] {+cc_9} BA flying, no pun
[13:17] {RonS} why not?...better than most of nemo's jokes...
[13:18] {Alexs} looks it will be back to the highs but I don't have enough diapers for that game
[13:19] {+cc_9} SPY boom
[13:19] {+cc_9} BA boom
[13:19] {+cc_9} god damn im having a weekend
[13:20] {+cc_9} 167.40 ding ding ding :D
[13:20] {+cc_9} all out everything, im done for the week
[13:21] {+cc_9} killed it on SPY, killed it on BA
[13:22] {Alexs} wtg
01[13:32] {&Threei}  you guys know why nemo is so quiet today?
01[13:33] {&Threei}  he remembered the rule "if you don't have anything nice to say, don't say anything at all"
[13:36] {nemo} not the way I learned it
[13:36] {+cc_9} hehe
01[13:36] {&Threei}  oh and... the rule number one around nemo:
[13:36] {nemo} man bites dog
01[13:37] {&Threei}  never tell him to "get a grip" - to him it means "around your neck"
[13:40] {nemo} wow, spy volume 54 mil
01[13:41] {&Threei}  next to nothing
[13:47] {nemo} fas just keeps climbing
[13:49] {+cc_9} 164.40 crushed and then some
[13:49] {Alexs} it seems hft traders will soon rent a space behind Ben's desk
[13:51] {ese} frustrating day this......out wfc .79 +.19
[13:52] {ese} i'm outta here for the weekend......have a good one ya'll am gonna go and drink my profits away cya
[13:54] {Alexs} are you still in FCX trade Vad?
01[13:58] {&Threei}  yes, 1/4
01[13:58] {&Threei}  can you believe it?
[13:59] {Alexs} Yeah I'm holding last piece too
01[14:01] {&Threei}  be back in 15-20
[14:05] {nemo} fas at trend support
[14:09] {nemo} alxn
[14:33] {nemo} ffiv above .40 might be worth a long, stop below .30
[14:34] {nemo} BA at support
01[14:37] {&Threei}  oh come on FCX
01[14:37] {&Threei}  die already
[14:37] {Alexs} covered at .92
01[14:38] {&Threei}  I decided not to cover at 1:3
01[14:39] {&Threei}  will try for more if it proceeds lower
[14:39] {nemo} well, it's still full red on my algo
[14:41] {nemo} fcx just shut off, so downward pressure is off
[14:41] {Alexs} great patience Vad
01[14:42] {&Threei}  slim pickings, so better squeeze all you can out of what works
01[14:43] {&Threei}  notice that as soon as we switched to fading setups and babysitting them into oblivion, profitable day came
01[14:43] {&Threei}  lesson in adjusting...
[14:47] {Alexs} more I watch the trading more I see that this is a matter of chance
[14:48] {nemo} probability
[14:48] {Alexs} yes you right
[14:49] {nemo} jeez, thanks Alex
[14:49] {Alexs} yw
[14:50] {nemo}  what size neck?
[14:52] {Alexs} you miss Les
[14:53] {nemo} like syphilis
[14:53] {RonS} lol...too much...
[14:54] {nemo} Les is kinda' like a chancre
[15:06] {nemo} gld
[15:08] {Alexs} how much is gasoline in BC?
01[15:09] {&Threei}  1.35 a litre
[15:10] {nemo} 5.20 a gallon
[15:11] {nemo} of course, that's canadian currency
[15:11] {nemo} what
[15:11] {nemo} what exchange rate?
01[15:11] {&Threei}  96 cents fort USD at the moment
[15:12] {nemo} so yeah, about 5.20 because 4 litres is slightly more than a gallon I believe
01[15:12] {&Threei}  yup, a gallon is 3.8 litres
[15:13] {nemo} BA forming a pennant
[15:15] {Alexs} a couple new coups in Egypt we will have same price
01[15:16] {&Threei}  no need for such drastic measures. All you need is a few more idiots
01[15:16] {&Threei}  the kind that says:
01[15:16] {&Threei}  this is too low price, we need it higher to encougare green energy and discourage use of cars
01[15:16] {&Threei}  and point to Europe which has much higher price and survives it
01[15:17] {&Threei}  never mind very different city structure in Europe that lends itself to carless life much easier
01[15:17] {&Threei}  and general lunacy of most things Europe
01[15:18] {&Threei}  Our idiots think along the lines "if Europe does it, it's great"
[15:21] {+cc_9} ok folks
[15:21] {+cc_9} ya'll have a great weekend
[15:21] {+cc_9} see you all Monday! :)
01[15:22] {&Threei}  take care #9
[15:26] {Alexs} what are BB parameters for 5min chart Vad?
01[15:26] {&Threei}  never tested them for 5 min
01[15:26] {&Threei}  (US) Fed's Bullard: Bond yield spike could have been attributed to increasing optimism on the US economy; market could be too optimistic about the outlook- Notes that some elements that created economic lag have been removed
[15:29] {Alexs} you never use 5min?
[15:29] {nemo} what bullshit
01[15:29] {&Threei}  I might take a look sometimes at 5, 15, 60
[15:29] {nemo} Bullardshit
01[15:29] {&Threei}  but it's just a cursory look
01[15:30] {&Threei}  not digging deep into details os TA
01[15:31] {&Threei}  you ARE bored, nemo...
01[15:42] {&Threei}  OK guys... let's call it a day
01[15:42] {&Threei}  good one, although the week as a whole is negative
01[15:42] {&Threei}  not a frequent occurence
01[15:43] {&Threei}  have a good weekend, see you Monday
[15:43] {Alexs} have a good one Vad
[15:46] {bbobr} have a nice weekend all
[15:48] {Alexs} take care bbobr