Friday, July 19, 2013

July 19 2013

Another teeth-pulling day ending teeth-pulling week. Slow climb and low volume make good trading environment not. First morning trades while there is some volatility is about all we get.

Session Time: Fri Jul 19 00:00:00 2013
[09:06] {dino} gm
01[09:06] {&Threei}  morning dino
[09:06] {nemo} do you have to do that?
[09:08] {nemo} GOOG being bought right back up...
01[09:08] {&Threei}  somwe call it "civility..." look it up
[09:08] {nemo} msft on the other hand...
01[09:09] {&Threei}  different views on those
01[09:09] {&Threei}  MSFT is seen as declining business, not capable to reinbvent themselves, focusing on "me too" prodicts like Surface
01[09:10] {&Threei}  GOOG is seen as investing in the future rather than having a bad q
[09:10] {nemo} spy half usual pre market volume
[09:11] {nemo} I'm looking at it from more of a technical point of view...bought back up....bull market
[09:11] {nemo} MSFT going the way of Detroit
[09:11] {nemo} was that too harsh?
01[09:11] {&Threei}  feels that way
01[09:11] {&Threei}  no
01[09:11] {&Threei}  MSFT needs real course change
[09:12] {nemo} saw interesting stat on Detroit...has lost 60% of population, only cut 40% of municipal work force
[09:12] {dino} that answers alot
[09:13] {nemo} was watching the bear cam last night..mama came in with 3 little cute
[09:14] {nemo} Was thinking of spy short in the premarket, setup was there, but you just need one asshole to throw a brick in that volume
[09:15] {nemo} nice setup around 7:30
[09:16] {nemo} anybody for playing a 168 bounce...where's 0 of 9?
[09:17] {nemo} this op ex week?
[09:17] {nemo} should be
[09:17] {RonS} today
[09:18] {bbobr} gm
01[09:18] {&Threei}  ron, bbobr :)
[09:19] {nemo} interestingly S1 daily on spy is 168.29  see where support was between 8:30 and 9:10
[09:25] {Alexs} gm
[09:25] {ese} here we are again
01[09:25] {&Threei}  slex, ese :)
01[09:26] {&Threei}  feels like whole gap down thing is nothing more that a trap for bears
01[09:26] {&Threei}  than
[09:26] {cipher} gm
01[09:26] {&Threei}  cpher :)
01[09:27] {&Threei}  GOOG miss is no biggie, Detroit bankruptcy is news only for those who never paid attention
01[09:28] {&Threei}  and MSFT less and less seen as real flagship
01[09:33] {&Threei} Long Setup:  TZA  .40 break
01[09:33] {&Threei}  If holds  .35
01[09:35] {&Threei}  1:1
[09:41] {robbers} Out, good call, thanks.
01[09:41] {&Threei}  :)
[09:44] {dino} athn drop
[09:48] {Alexs} you still in TZA or time to quit Vad?
01[09:49] {&Threei}  half in still
[09:49] {Alexs} k
01[09:49] {&Threei}  either double-tops here or breaks out
01[09:49] {&Threei}  rather than guess which it is I'll let market tell me
01[09:51] {&Threei}  1/4 more out
01[09:51] {&Threei}  stop to .44
[09:55] {nemo} looking for tlt short in .70 area
[09:55] {+cc_9} good late morning :D
01[09:55] {&Threei}  cc9 :)
[09:59] {nemo} wow $.32 opening range in spy
[09:59] {nemo} get desk pillow ready
[09:59] {nemo} tape chin
[10:00] {dino} ocrx sm s .73
[10:04] {dino} rga hl l .48
01[10:06] {&Threei} Long Setup:  LVS  .06 break
01[10:06] {&Threei}  If holds  56
[10:08] {dino} cov orcx .70, +1.03
01[10:10] {&Threei}  wtg
[10:13] {dino} ty
01[10:14] {&Threei} Long Setup:  GDX  .30 break
01[10:14] {&Threei}  If holds  .25
[10:17] {nemo} dino, pay attention to onxx
[10:17] {nemo} I think QQQ is a short to .35
[10:19] {dino} ok
[10:19] {nemo} look at daily
[10:19] {dino} out rga .72, +.24
[10:20] {nemo} mom and cubs:!/live-cams/player/brown-bear-salmon-cam-lower-river
01[10:20] {&Threei}  half out
01[10:20] {&Threei}  close enough to 1:1
01[10:20] {&Threei}  1:1 now, trail stop
[10:22] {cipher} ONXX good one nemo
01[10:22] {&Threei}  Michigan Gov. Rick Snyder says he's not sure if some Detroit creditors will ever be paid
01[10:23] {&Threei}  why... I am sure they won't
[10:23] {nemo} oh sorry Cipher, you've been sooo quiet, this is a good one for you too
[10:23] {cipher} :)
01[10:23] {&Threei}  it's like my favorite dialog between Al Bundy and his neighbor
01[10:24] {&Threei}  Al: I'll never replay you for this
[10:24] {cipher} concentrating on good trading
[10:24] {nemo} np, I just forget you're here
01[10:24] {&Threei}  Neighbor: oh, that's fine, you could always...
[10:24] {dino} cyh hl l .01
01[10:24] {&Threei}  Al: which part of "I'll never repay you" don't you understand?
01[10:28] {&Threei}  Gov. Quinn signs legislation that will help Illinois businesses owned by minority women
01[10:28] {&Threei}  really?
[10:29] {nemo} onxx interesting candle
[10:33] {dino} out chy .33, +.32
[10:34] {ese} good one dino
[10:35] {dino} ty, that 43.00 area strong support, bracket trade
[10:35] {dino} yrcw wants july 1 gap fill imo
[10:35] {ese} still took it awhile.....would have been like pulling teeth
[10:39] {nemo} GE missed on revenue and look how much it's up
[10:40] {nemo} can you say "bull market"
[10:41] {dino} ycrw gap fill
[10:41] {dino} hl l .88
[10:47] {nemo} msft at bottom of range if bored
[10:48] {nemo} ebay bear flag
[10:48] {nemo} right at 200 day though
01[10:48] {&Threei} Short Setup: GLD  125 break hl
[10:49] {dino} ebay gap 52.40s
01[10:56] {&Threei}  1:1
[10:58] {dino} out ycrw .58, +.70
01[11:00] {&Threei}  nice rug pull from under GLD
01[11:07] {&Threei} Long Setup:  IWM  .20 break
01[11:07] {&Threei}  If holds  .15
01[11:10] {&Threei}  half out
01[11:10] {&Threei}  1:1
[11:16] {nemo} URI
[11:17] {nemo} it's had a couple of volume runs, can't get higher
[11:18] {nemo} it drops low, should be good to the whole
[11:19] {nemo} two way probably
[11:20] {nemo} .25 and .35 respective triggers and stops
[11:29] {nemo} lulu looks like breakout
01[11:48] {&Threei} Long Setup:  GLD  .20 break
01[11:48] {&Threei}  If holds  .15
[11:48] {dino} che lod
01[11:52] {&Threei}  no go
01[11:59] {&Threei}  (EU) Germany Fin Min Schaeuble: Germany is not trying to make Europe like germany
[12:01] {nemo} TRIP drip
[12:02] {dino} they are trying to make them dis-like germany
[12:03] {nemo} time of day, but PNC lower high at moment
[12:03] {nemo} got that short look below 77
[12:07] {nemo} nope
01[12:14] {&Threei}  (G20) Final Communique: Accomodative policies including QE programs have provided support; there are risks to extended periods of accomodative policies- Calls for expedient European banking union formation
01[12:14] {&Threei}  EU just can't die with dignity
01[12:15] {&Threei}  meanwhile, there are very detailed insturctions how tio do just that
01[12:15] {&Threei}  1) Put your hand on your dignity. 2) Die
01[12:28] {&Threei}  sigh... I miss Will
[12:28] {nemo}
[12:28] {dino} sm l che .32
[12:31] {nemo} mmhhhh spy volume not bad considering the day
[12:32] {ese} ya know......i'm doin nothin........i'll see you all monday.....have a good weekend eh!
[12:32] {nemo} PNC again
[12:33] {dino} out che .82, +.50
[12:34] {dino} wrld spike
[12:44] {dino} wow wrld
01[12:46] {&Threei}  World Acceptance Corp Files amended annual report including restated items
[12:50] {dino} missed the drop on it
[12:51] {nemo}  frickin' ebay
[12:57] {nemo} when you're regular charts look like midday freestockcharts, then you know it's slow
[12:57] {nemo}!/live-cams/player/brown-bear-salmon-cam-brooks-falls
[12:57] {nemo} bear cubs again
01[13:05] {&Threei} Long Setup:  EBAY  .75 break
01[13:06] {&Threei}  If holds  .70  or .65... both are valid
[13:07] {dino} wrld spikes again
[13:08] {Alexs} what's the target on ebay?
01[13:09] {&Threei}  1:2
[13:09] {Alexs} k
[13:10] {nemo} those last few candles might make this a two sided play
01[13:19] {&Threei}  (US) US VP Biden: Officials are getting briefed regarding the Detroit bankruptcy; unclear at this time whether the Federal Govt will provide assistance
[13:19] {nemo} that city has been going down the shithole for 40 years and never got their house in order and now they want a bailout
[13:20] {RonS} -60% population since 1950...what happens w/ Dem reservation
01[13:22] {&Threei}  VP Biden: but General Motors is alive!
[13:23] {dino} well obummer claimed in campaign that he sved detroit
[13:23] {dino} saved
[13:24] {nemo} look .60 bid ebay
[13:24] {nemo} .69
[13:27] {Alexs} are you stillin the trade Vad?
[13:27] {nemo} where was the stop Alex?
[13:28] {Alexs} .64
[13:28] {nemo} .70 or .65, you see that big bid I pointed out at .69?
01[13:28] {&Threei}  yes
01[13:29] {&Threei}  SPY drop is killing it
[13:29] {nemo} talking to Alex, when you see that much volume packed at a level, consider it a trap door or springboard.  In this face, it eats up that volume on the downside, GTFO!
[13:30] {nemo} face=case
[13:30] {Alexs} ok thanks
[13:31] {nemo} ahhh, SPY volume really dropped off over the last hour
[13:34] {nemo} IWM looks like rebate trading
01[13:35] {&Threei}  so far so good, higher low... need to retake .75 and then break .80 to make this one work nicely
[13:43] {Alexs} does it make sence to take a stop if it brakes .70 again?
01[13:46] {&Threei}  I'd do it this way: let's trail to .69 after it takes .75
[13:46] {Alexs} k
[13:47] {nemo} yeah, at 69 you have to turn around anyway
01[13:47] {&Threei}  lol
[14:05] {nemo} can't have another red day
01[14:20] {&Threei}  US Sec. of State Kerry: Agreement reached 'establishing basis' for Mideast peace talks, but not finalized
01[14:20] {&Threei}  doesn't it pretty much describe last 20 years?
[14:21] {nemo} Egypt still owes reparations to the Jews
01[14:22] {&Threei}  SEC Charges Steven A. Cohen For Failing to Supervise Portfolio Managers and Prevent Insider Trading
01[14:22] {&Threei}  wow
[14:22] {robbers} They're deciding on shape of table...everyone except Israel wants a circular table, Israel wants it to be shaped in the star of David.
01[14:23] {&Threei}  makes sense
[14:36] {dino} che drop
[14:36] {dino} cyh too
01[15:22] {&Threei} Long Setup:  IWM  .25 break
01[15:22] {&Threei}  If holds  .20
01[15:27] {&Threei} Short Setup: EBAY  .35 break
01[15:27] {&Threei}  If holds  .40
01[15:29] {&Threei}  (PT) Portugal opposition Socialist party leader Seguro: Social democrats party blocked the salvation agreement; socialists are fighting to preserve pensions- President needs to make a decision on next steps - Need a renegotiation on the bailout
[15:31] {Alexs} IWM still valid?
01[15:31] {&Threei}  yes
01[15:31] {&Threei}  never lost .20
[15:32] {Alexs} ok
01[15:32] {&Threei}  EBAY on the other hand... I think let's scratch it
01[15:33] {&Threei}  didn't invalidate or hit the stop but doesn't look and feel right
01[15:33] {&Threei}  out flat
[15:33] {Alexs} k
01[15:33] {&Threei}  .35
01[15:34] {&Threei}  with little patience could've scalped 2 cents
01[15:34] {&Threei}  lol
01[15:39] {&Threei}  4 actually
01[15:39] {&Threei}  ok IWM... your time to shine
01[15:39] {&Threei}  by moving another cent or two
[15:40] {Alexs} lol
01[15:40] {&Threei}  ugh EBAY
01[15:40] {&Threei}  could have had 5 cents
[15:40] {Alexs} SoMG
01[15:41] {&Threei}  and horrible tax problem
01[15:41] {&Threei}  IWM might get blisters on its skin with this speed
[15:41] {nemo} looks like they want to close it above 169 get another closing high
[15:41] {nemo} big spy volume
01[15:42] {&Threei}  wow, another cent... we might get 5-6 cents profit this, yes I said THIS century
01[15:43] {&Threei}  Judge: Detroit bankruptcy filing violates state Constitution, must be withdrawn
[15:44] {dino} sks spike
[15:44] {nemo} feels like a spike coming
[15:45] {dino} damn can't borrow sks
01[15:45] {&Threei}  sheesh... EBAY 1:1
01[15:45] {&Threei}  misjudged it
[15:52] {dino} calling it a week, thx all
[15:52] {robbers} Watching IWM is like a bladder control seminar.
01[15:52] {&Threei}  no kidding
[15:53] {nemo} today week should be range expansion and big rips higher
01[15:53] {&Threei}  but last spike just has to occur
[15:53] {nemo} hate to say this but I have a negative divergence on iwm, I just can't believe it will go lower
01[15:54] {&Threei}  ok... time's running out
01[15:54] {&Threei}  scratching this one too
01[15:54] {&Threei}  teeth-pilling week
01[15:54] {&Threei}  pulling
[15:55] {nemo} wow it did drop
01[15:55] {&Threei}  whole 3 cents
[15:55] {nemo} yeah
01[15:55] {&Threei}  and recovered 2
01[15:55] {&Threei}  lol
01[15:58] {&Threei}  frikin EBAY
01[15:58] {&Threei}  k guys, have a great weekend
01[15:58] {&Threei}  see you Monday
[16:02] {bbobr} gn all