Monday, July 15, 2013

July 15 2013

Quiet, low volume, boring and... nicely profitable day. After shaky start we caught our stride and hit a few nice juicy trades. How's this for low volume, as of 15:30:

NYSE volume 360M shares, about 25% below its three-month average
NASDAQ volume 1.14B shares, about 17% below its three-month average

Session Time: Mon Jul 15 00:00:00 2013
[09:06] {dino} gm
01[09:06] {&Threei}  dino, welcome back
[09:08] {dino} ty
[09:12] {+cc_9} Good morning folks
01[09:12] {&Threei}  cc9 :)
[09:19] {cipher} gm
01[09:19] {&Threei}  cipher :)
[09:24] {Alexs} gm
01[09:24] {&Threei}  alex :)
[09:25] {RonS} good morning everyone
01[09:25] {&Threei}  ron :)
[09:26] {bbobr} gm
01[09:27] {&Threei}  bbobr :)
[09:28] {ese} morning
01[09:28] {&Threei}  ese :)
[09:28] {ese} dino
01[09:28] {&Threei}  quiet opening, looks like
[09:28] {ese} ron bb alex cc
[09:29] {RonS} ese = walmart greeter certified...
[09:30] {ese} lol
01[09:30] {&Threei} Short Setup: GLD  124 break
01[09:30] {&Threei}  If holds  .10 
01[09:35] {&Threei}  no worky
01[09:36] {&Threei} Long Setup:  IWM  .10 break
01[09:38] {&Threei}  change to 103 break
01[09:38] {&Threei}  If holds  .90 
[09:38] {dino} onvo sm l .00 stop .74
[09:38] {+cc_9} JPM intraday drop, scaling light long
01[09:44] {&Threei}  not delighted
01[09:45] {&Threei}  something's bothering SPY
[09:45] {dino} onvo stop
01[09:46] {&Threei} Short Setup: GDX  .50 break
01[09:46] {&Threei}  If holds  .55 
01[09:51] {&Threei}  frikin IWM
01[09:51] {&Threei}  rinsed
01[09:52] {&Threei}  GDX stop to .53
01[09:52] {&Threei}  acts right but takes way too long
[09:57] {dino} jbht sm s .19 
[09:58] {ese} also check out crm and ctxs dino........looks like retrace days for both....potential future L
01[09:59] {&Threei}  *(US) MAY BUSINESS INVENTORIES: 0.1% V 0.0%E
01[10:00] {&Threei}  (EU) IMF: Have seen an indication that the number of financial transactions have declined since the financial transaction tax (FTT, tobin) proposal was introduced in France and Italy
01[10:00] {&Threei}  what a discovery... you get less of what you tax. Real revelation
01[10:00] {&Threei}  1:1 GDX
[10:01] {dino} ty ese
[10:04] {dino} ingr sm l .01
[10:06] {dino} jbht stop .51 -.31
01[10:06] {&Threei} Short Setup: CAT  .45 break
01[10:06] {&Threei}  If holds  .50 
[10:06] {dino} out ingr .33, 
[10:06] {dino} +.32
01[10:09] {&Threei}  meh
[10:11] {dino} ingr sm l .80
[10:13] {+cc_9} JPM slide continues, no reversal yet. cost @ 54.88
01[10:15] {&Threei} Short Setup: C  .50 break
01[10:15] {&Threei}  If holds  .60 
[10:15] {Alexs} too fast
01[10:16] {&Threei}  stop .56
[10:16] {ese} L ctxs .06
[10:18] {ese} L vz .94
01[10:18] {&Threei}  half out
01[10:18] {&Threei}  stop .51
[10:19] {ese} crm is my next victum
01[10:22] {&Threei}  1/4 more out
01[10:22] {&Threei}  stop to .46
[10:23] {nemo} this might be the inflection on c
01[10:24] {&Threei}  unless infection by JPM takes over
[10:24] {nemo} BTDs
01[10:25] {&Threei}  what happened to f?
[10:25] {nemo} Bank Transmitted Diseases
01[10:25] {&Threei}  lol
[10:26] {nemo} What was it Les picked up from those sheep?
[10:29] {+cc_9} JPM absolute garbage
01[10:35] {&Threei}  1:3
01[10:35] {&Threei}  out
01[10:35] {&Threei}  whew
01[10:36] {&Threei}  life becomes better
[10:42] {dino} bpt drop
01[10:46] {&Threei} Long Setup:  JPM  .70 break
01[10:46] {&Threei}  If holds  .60 
[10:46] {+cc_9} If the move today in JPM is an exact repeat of Thursday's (gap up, dump, slight reversal) then the time is now 
01[10:47] {&Threei}  feels like it's ready
[10:48] {nemo} closer to .50 me thinks
01[10:50] {&Threei}  C revered
01[10:50] {&Threei}  recovered
[10:53] {nemo} apc
01[10:53] {&Threei}  ok JPM... wake up
[10:55] {+cc_9} JPM needs 54.81 breakout
[10:55] {+cc_9} getting some bids now
[10:56] {dino} crm sm l .50
[10:57] {RonS} weird took sm l bpt 88.50 sold 89.60 but the sale did not print in the t&s...anyway, thanks dino
[10:59] {+cc_9} JPM, lets see .81 bids for a nice reversal 
01[10:59] {&Threei}  1:1
[11:00] {ese} out ctxs .47 +.41 in honor of dino coming back to the board
[11:01] {robbers} Nice call, JPM and C, too.
[11:01] {nemo} LVS looks ready to break
[11:02] {+cc_9} JPM 2min looking for pattern similar to CTXS
[11:03] {+cc_9} 54.80 wall
[11:04] {nemo} hey Vad!  how about that monastery right about now
[11:05] {dino} out crm .54 +.04
01[11:08] {&Threei}  why?
[11:08] {nemo}  anything better than this market right now
[11:08] {nemo} I know a great one in beer I ever had
[11:08] {nemo} Kloster Andechs
[11:09] {+cc_9} .80 major wall JPM
[11:09] {nemo} [11:04] {+cc_9} 54.80 wall
[11:11] {+cc_9} oups, i guess said that already
[11:11] {nemo} np
[11:12] {nemo}!/live-cams/player/brown-bear-salmon-cam-brooks-falls
[11:13] {nemo} lvs again
[11:14] {+cc_9} JPM consolidation, needs volume on next leg
[11:14] {dino} mhfi sm s .40
[11:18] {RonS} anyone see that "sharknado" movie...any good?
01[11:19] {&Threei}  per reviews, the worst ever
[11:19] {RonS} so bad it's good a la Ed Wood's movies?
[11:19] {ese} L crm .59
01[11:20] {&Threei}  this is what I am thinking
01[11:20] {&Threei}  but I am hardly a standard post, I enjoyed "2012"
01[11:21] {&Threei}  my recipe - dismiss all the stupid plot lines, flat characters and ridiculous dialogues, and watch the scenes of mass destruction only
[11:21] {ese} hmmmmmmmmm
[11:21] {ese} definitely something to consider
[11:22] {nemo} Saw a documentary on Ed Wood...all those movies done in the Phillipines
[11:23] {nemo} the doco was hilarious
[11:24] {nemo} so, whaddya' think about the Trayvon stuff?  I guess the facts don't matter to the public.
01[11:24] {&Threei}  when did they...
[11:24] {nemo} yeah
[11:24] {dino} exactly what i think nemo
[11:24] {dino} cov mhfi .20, +.20
[11:25] {nemo} 84% have average to less than average intelligence, so rational thought is kinda' out the window
[11:25] {ese} out vz .50 +.05
[11:25] {ese} pulling teeth these days
[11:28] {+cc_9} JPM a real dog
01[11:29] {&Threei}  - The June advanced retail sales data was pretty disappointing. The shortfall was largely due to a much-smaller-than-expected rise in the gasoline station and to an unexpected drop in the building materials sector. Sales of building materials fell by the most in a year, a potentially worrying sign for the housing market.
[11:29] {dino} was it this slow last wek
[11:29] {dino} week?
01[11:29] {&Threei}  The July Empire survey crushed expectations on a big reversal in shipments and new orders from the dismal June survey.
[11:29] {ese} yes
01[11:29] {&Threei}  mostly, yes
[11:30] {+cc_9} SPY session highs, JPM session lows
[11:31] {RonS} lol...1st Preview of Sharkakahn by @TMZ
03[11:31] * Retrieving #discussions modes...
[11:35] {ese} out crm .60 +.01
[11:35] {ese} nothins working like i think it should...
[11:35] {RonS} gj....coulda been .00775
[11:36] {ese} eggzactilly
[11:36] {+cc_9} is JPM part of the S&P or does it trade on the south african exchange
[11:36] {dino} jbht sm s .50
[11:37] {ese} rotflol
[11:37] {RonS} qotd:  More like NightmareLiner
[11:38] {+cc_9} Markets blasting through session highs, JPM is now a component of the uvxy
[11:38] {+cc_9} cant even get through .80
[11:40] {RonS} strike 3? prepare for the wrath of nemo?
[11:40] {ese} blasting BLAsting????BLASTING???????  what your defininition of blasing
[11:41] {+cc_9} printing session highs, good enough to be called a blast
[11:41] {+cc_9} even HOG on a downgrade was able to come back. JPM needs to downgrade itself
[11:42] {+cc_9} needed 54.83 to unload, get .80 stall then pullback. *yawn*
[11:43] {RonS} guessing cc not a sports announcer...
[11:43] {dino} czr spike
[11:44] {+cc_9} annnnnnnnnnd session lows JPM
[11:44] {RonS} ...thinking cc a dead horse flogger...:D
[11:45] {nemo} doesn't go any lower than .45 methinks
[11:45] {nemo} I thought it would get back to .50ish anyway
01[11:48] {&Threei} Long Setup:  C  .25 break
01[11:48] {&Threei}  If holds  .18 
[11:49] {ese} ok......I have a solution to this......can't believe i didn't think of this in past years
[11:49] {ese} "short the World"?????
[11:49] {ese} huh....wha da ya think....huh?   short the world
[11:49] {+cc_9} idk what is worse, Sharknado, or my JPM position
[11:50] {ese} should about take care of things
[11:50] {RonS} exterminate everyone over 4' tall?
[11:51] {ese} ?
[11:51] {ese} ya got me there
[11:51] {RonS} ...short the world...
01[11:52] {&Threei}  I dunno... I'd start with firing anyone whose name starts with Ben Bernan
01[11:53] {&Threei}  {nemo} didn't you mean "firing at"?
[11:54] {ese} L c .26
[11:54] {ese} me and you vad....."against the World!"
[11:55] {+cc_9} ese, be a team player
[11:55] {+cc_9} buy more JPM
[11:55] {+cc_9} less C
01[11:55] {&Threei}  stop to under .20
01[11:55] {&Threei}  1:1
[11:56] {ese} 1/2
01[11:59] {&Threei}  1:2
[11:59] {ese} indeed
01[12:00] {&Threei}  day turns bright
[12:00] {ese} and hot
[12:02] {ese} out in full .48 +.22
[12:02] {ese} good enough
[12:02] {ese} tks vad
[12:02] {dino} gj
01[12:03] {&Threei}  1:3, out
01[12:03] {&Threei}  yw
[12:04] {+cc_9} need JPM to pull a similar C move :(
[12:04] {+cc_9} why does it seem like asking for a lot
[12:15] {ese} L c .51
[12:16] {Will49} Test
[12:17] {+cc_9} JPM can...u...just...uptick..a ...little...pls ?
[12:19] {+cc_9} stuck @ same range since 10:00AM lol wow
[12:22] {dino} odd 07 red but mkts hod
[12:22] {nemo}  ffiv bounce point
[12:24] {+cc_9} WFC, GS, C, BAC all reversing and moving higher. Will sit on this JPM longer
[12:25] {ese} out c .63 +.12
[12:27] {dino} mhfi sm s .62
[12:29] {+cc_9} would like to see a FB type move
[12:32] {RonS} something you can "like"?
[12:33] {RonS} hey ese...
[12:33] {ese} y
[12:33] {RonS} rkus has a monster volume pocket overhead...something to watch...
[12:34] {+cc_9} JPM is algo spread trading its own stock
[12:34] {ese} tks  will do
[12:34] {nemo} hey, who would know more about it's behavior
[12:34] {dino} jbht stop .90
[12:41] {dino} powi sm s .70 stop .76
[12:41] {dino} gmcr spikey
[12:44] {ese} It would appear as though I miss judged C
[12:45] {dino} powi stop -.06
01[12:48] {&Threei}  wow C
[12:49] {ese} yup
01[12:51] {&Threei}  LOL: I have ACD and ADD. So everything has to be perfect. But not for very long.
01[12:51] {&Threei}  OCD
[12:51] {+cc_9} not going up when all banks going up, but go down when banks go down JPM
[12:55] {+cc_9} JPM feels like finding someone u like, date them for long enough to say "well, im already commited", then find out they are married
[12:56] {dino} hrs sm l .51
[12:56] {nemo} fdx
[12:59] {dino} out hrs .91, +.40
[13:11] {+cc_9} JPM upticking ? this can't be
[13:16] {dino} mhfi stop -.08
01[13:17] {&Threei}  Holder on Zimmerman case
[13:41] {nemo} bull flags on the indexes
[13:42] {ese} I like that in a bull
[13:43] {ese} c worth another look vad?
[13:44] {+cc_9} JPM going on 4 hours same range, word record
[13:44] {+cc_9} GOOG @ historical highs
[13:44] {dino} chrw spike
[13:45] {ese} L c .8899023
[13:45] {dino} sm s .03
[13:54] {ese} L c avg .8699901
01[13:56] {&Threei}  I am not too jazzed ese
01[13:56] {&Threei}  kind of lost drive
01[13:56] {&Threei}  C, not I
[13:56] {ese} lol
[13:57] {ese} gonna try and squeeze .12 out of it
[14:00] {dino} cov chrw .93, +.10
[14:15] {RonS} hey ese...
[14:19] {ese} yo
[14:19] {ese} out c .88 +.0299901
[14:20] {RonS} opinion on that strange looking drummer w/ No Doubt...
[14:21] {ese} callin it quits for the day....have got work on the rental property next tennants aug 1 ...cya tomorrow
[14:21] {ese} remind me tomorrow ron.....cya eh
[14:21] {RonS} ...and btw Gwen Stefani absolutely rocks...a great performer
[14:21] {dino} cya ese
[14:21] {dino} gwen is hot
[14:35] {dino} mhfi s .81
[14:38] {+cc_9} JPM come on...
[14:46] {+cc_9} JPM thank you jesus
[14:47] {+cc_9} nevermind
[14:47] {+cc_9} did not clear .81 yet
[14:53] {+cc_9} .81 was highest bid, back below...
[14:54] {dino} cov mhfi .71 +.10
01[14:58] {&Threei}  this thing trades like a jellyfish, cc9
[15:00] {+cc_9} Vad, JPM my only trade today, been sitting in it since 9:50
[15:00] {+cc_9} have avg price 54.80
[15:00] {+cc_9} cant seem to break even
[15:00] {+cc_9} last hour, literally definition of a cancerous trade
[15:02] {+cc_9} at this rate, i will need the after hours to stay open until 1AM
[15:11] {+cc_9} ok, maybe now
01[15:21] {&Threei} Short Setup: FB  .35 break
01[15:21] {&Threei}  If holds  .40 
[15:23] {+cc_9} all out JPM
[15:23] {+cc_9} +$400
[15:23] {+cc_9} all day for $400
[15:23] {+cc_9} jeeez
01[15:23] {&Threei}  cry me a river
[15:23] {dino} seriously
[15:24] {nemo} this will likely be lowest spy volume of the year
[15:24] {nemo} 68 mil on 2/12
[15:27] {Alexs} what was that FB setup Vad? 
01[15:27] {&Threei}  double top, lower high
[15:28] {Alexs} tops 14:59 and 15:15?
01[15:29] {&Threei}  rather 13:42
[15:30] {Alexs} ok thanks
01[15:37] {&Threei}  - NYSE volume 360M shares, about 25% below its three-month average
01[15:37] {&Threei}  wow
01[15:37] {&Threei}  NASDAQ volume 1.14B shares, about 17% below its three-month average
[15:37] {dino} nobody playing the game
01[15:38] {&Threei}  we have something from Ben coming this week again
[15:38] {nemo} no fear anywhere...they know the Central Banks will do whatever it takes to support the markets
01[15:38] {&Threei}  atill, market became very sensitive to what he is saying again, after all the taper talk
01[15:39] {&Threei}  and there is a lot of guessing, interpretations and misinterpretations
[15:39] {nemo} yeah, they threw up the trial balloon and saw what happened and adjusted accordingly
01[15:39] {&Threei}  no one wants to be the last one in music chair game
01[15:39] {&Threei}  it may be more than trial balloon
01[15:40] {&Threei}  it may actually be an attemot to manage the bubble by jawboning
[15:40] {dino} it is
01[15:40] {&Threei}  think of it this way: if they can keep market from exploding and imploding by carefully crafting the taper on/taper off message,
01[15:41] {&Threei}  it's an idea way for them, no need for actual policvy change
01[15:41] {&Threei}  ideal
01[15:41] {&Threei}  they can keep things steady by talking
01[15:42] {&Threei}  "unleash the dove," and market stops falling
01[15:42] {&Threei}  "unleash the hawk," and market stops skyrocketing
01[15:43] {&Threei}  half out FB
01[15:43] {&Threei}  stop to .36
01[15:44] {&Threei}  Violence erupts during Cairo pro-Morsi protest
01[15:44] {&Threei}  well, it erupted just as well during anti-Morsi protests
01[15:45] {&Threei}  if they reported "violence erupts, and thnat's all you need to know," I'd consider it just as fair and balanced reporting
[15:45] {dino} epzm sm s .09
[15:46] {dino} powi sm s .54
[15:49] {dino} its never un-biased
[15:50] {+cc_9} lol
[15:50] {+cc_9} waited all day for this JPM
01[15:50] {&Threei}  good boy FB
01[15:50] {&Threei}  die more
01[15:50] {&Threei}  die harder
[15:51] {robbers} Out FB, thanks Vad.
01[15:51] {&Threei}  yw
01[15:51] {&Threei}  eked out nice day, eh
[15:55] {dino} cov powi .40, +.14
[15:57] {dino} cov epzm .70, +.39
01[15:58] {&Threei}  ok... covering last piece
01[15:58] {&Threei}  we are adjusting to this swamp I believe
01[15:59] {&Threei}  thank you all, have a good evening
01[15:59] {&Threei}  see you tomorrow
[16:01] {dino} gn all