Monday, July 29, 2013

July 29 2013

Very nice day despite the low volume and that tormentingly slow climb. A few nice 1:3 and 1:2 winners, with just two 5 cent stops at the end of the day. Nice to start the day with our traditional GDX short and get 1:3 from ot; C short wasn't too shabby either.

Session Time: Mon Jul 29 00:00:01 2013
[09:21] {RonS} hi everyone
[09:21] {nemo} surely you don't mean me
01[09:21] {&Threei}  morning ron
[09:24] {RonS} $CAT announced a $1 billion accelerated stock buyback this morning
[09:25] {nemo} yeah, they must know they're screwed
[09:25] {cipher} gm
01[09:25] {&Threei}  cipher :)
[09:26] {nemo} wow spy hasn't even done a millon shares pre market
[09:26] {nemo} "normal" is around 2.5 mil
[09:29] {ese} gm
01[09:29] {&Threei}  my favorite piece of news from the weekend:
[09:29] {ese} yawn
01[09:29] {&Threei}  (GR) Greece Parliament layoff its first employee after he failed to show up to work for 6-months - ekathimerini
01[09:29] {&Threei}  - Pay was suspended after he failed to show up for 4 months and was reported to the disciplinary council. Only after pay was suspended did he show up.
01[09:29] {&Threei}  - Note: He is the first worker in the House to be let go.
01[09:29] {&Threei}  ese :)
[09:30] {ese} that is funny
01[09:30] {&Threei} Short Setup: GDX  .60 break
01[09:32] {&Threei}  CAT lost almost all of the gap
[09:33] {bbobr} gm
01[09:33] {&Threei}  bbobr :)
01[09:34] {&Threei}  If holds  .67
01[09:36] {&Threei}  1:1
[09:36] {nemo} looks like spy to test 169
01[09:38] {&Threei} Short Setup: CAT  .60 break hl
01[09:39] {&Threei}  Invalidated
[09:40] {nemo} cat going for the gap
01[09:41] {&Threei}  covering 1/4 more
01[09:41] {&Threei}  .44
01[09:41] {&Threei}  stop to .56
01[09:45] {&Threei}  1:2
01[09:46] {&Threei}  stop to .51 for the last piece
[09:46] {nemo} cat closes gap around 83.48
01[09:46] {&Threei}  out in full
01[09:46] {&Threei}  .33
01[09:46] {&Threei}  not too bad for the start
01[09:47] {&Threei}  especially considering low volume and slim pickings
[09:47] {nemo} still got the sling in your drawer?
01[09:47] {&Threei} Short Setup: GLD  .40 break hl
[09:49] {nemo} cat gonna' close that gap
[09:53] {robbers} Thanks, GDX
01[09:54] {&Threei}  robbers :)
[09:57] {nemo} expe
01[09:57] {&Threei} Short Setup: C  .65 break
01[09:58] {&Threei}  If holds  .75
[09:58] {nemo} numbers coming
01[09:59] {&Threei}  June pending homes
[10:00] {nemo} bad number
[10:00] {nemo} ?
01[10:00] {&Threei}  *(US) JUN PENDING HOME SALES M/M: -0.4% V -1.0%E; Y/Y: 9.1% V 11.5%E
[10:00] {nemo} see if bad news is bought
01[10:00] {&Threei}  - Prior pending home sales revised lower to +5.8% from 6.7%
[10:01] {nemo} fb
[10:02] {robbers} Out C, thanks again.
01[10:02] {&Threei}  :)
01[10:03] {&Threei}  1:1
01[10:03] {&Threei} Long Setup:  GDX  .40 break
01[10:03] {&Threei}  If holds  .35
01[10:05] {&Threei}  1:1
[10:11] {nemo} fb looks short
01[10:15] {&Threei}  C 1:2
01[10:16] {&Threei}  good one FB
[10:20] {nemo} expe looks under 46, is it still on uptick?
01[10:20] {&Threei}  1:3 close enough, out
01[10:20] {&Threei}  2 1:3ers, 1 scalp... can I go home?
[10:21] {nemo} get the sling out yet?
01[10:22] {&Threei}  GAME...
01[10:23] {&Threei}  if pulls bacl under .70, will be interesting for double bottom
[10:30] {nemo} DVN
[10:30] {nemo} arguably long on a break of .70
[10:30] {nemo} stop would be under .60
01[10:31] {&Threei}  *(US) July Dallas Fed Manufacturing Activity: 4.4 v 7.3e
[10:33] {ese} bit of a brutal number
01[10:47] {&Threei}  AIG US judge reportedly rules that due to extraordinary circumstances former AIG Chairman Greenberg should be allowed to depose Fed Chairman Bernanke regarding the insurer's bailout
[10:49] {RonS} clambake?
[10:50] {nemo} FFIV looks short here below .40
[10:50] {nemo} got a gap fill below
01[10:51] {&Threei}  I don't mind at all watching their fistfight
[10:52] {nemo} Greenberg a tough bird
[10:52] {ese} l spwr .42
01[10:52] {&Threei}  I'd bet on Ben going down in first round
[10:52] {nemo} first punch
01[10:55] {&Threei}  wow... they are still discussing this:
01[10:55] {&Threei}  Bank of Cyprus (CY) Cyprus govt disagrees with the final Bank of Cyprus levy percentage of 47.5% - Greece press**NOTE: 07/29 Cyprus and international lenders finalize agreement to convert 47.5% of deposits over €100K to equity in the Bank of Cyprus in order to recapitalize the bank. The initial agreement was for a 37.5% conversion with an additional 22.5% held in a buffer account - press - On July 25th Bank of Cyprus Chairman: Deposit levy seen around 50% and no more than 60% on accounts over €100K
01[10:55] {&Threei}  I thought they already spent all that confiscated money
[11:00] {ese} i see a 1 min cup and handle forming with spwr if it gets back to .50.......vad can you give me some feedback on that
01[11:01] {&Threei}  looks tright to me
[11:01] {ese} tks
01[11:01] {&Threei}  just keep size reasonable, considering the spread
[11:05] {ese} definitely tks
01[11:05] {&Threei} Long Setup:  FB  35 brewak hl
01[11:05] {&Threei}  If holds  .90
[11:07] {ese} i like that term the "brewak"......gonna start uing that
[11:18] {nemo} IWM about to fill a gap
[11:22] {nemo} close to bounce time
[11:22] {nemo} fas break of .20 long, stop under .10
[11:22] {nemo} sso break of .40 stop under .30
[11:23] {nemo} btw, if this works, likely vwap runs
[11:25] {nemo} GS not bouncing though
[11:26] {nemo} Europe close in 5 minutes, how convenient
[11:26] {nemo} GS starting to bounce a tad
01[11:29] {&Threei} Short Setup: C  .30 break
[11:32] {RonS} Cost of heart surgery in India: $1,583. Cost in U.S.: $106,385 |
[11:32] {nemo} that should be the bottom
[11:33] {RonS} Indian doctor Indian, US doctor Pakistani...
[11:33] {nemo} bbby likely long here
[11:45] {ese} You've just clued me into something i've never thought about nemo......the EU close happens between 11 and 12 ish....never thought about how that effexts he US markets but it does
06[11:50] * nemo faints
01[11:51] {&Threei} Long Setup:  C  .50 break
01[11:51] {&Threei}  If holds  .40
[11:54] {nemo} mnst very weak
[11:55] {nemo} mnst short under .50 stop above .60
[11:56] {nemo} little spready
[11:56] {nemo} offer coming down
[11:56] {nemo} 60.75 likely
[12:02] {ese} check out the 5 dollar retreat from OMC's gap up
01[12:02] {&Threei}  let's move stop to .44
01[12:18] {&Threei}  half out
01[12:18] {&Threei}  stop to .49
[12:51] {ese} L spwr avg .46
[12:58] {nemo} ctxs likely short to the .40's
[12:58] {nemo} if holds under high
[13:24] {nemo} tif likely short to 78.20
[13:27] {nemo} it just tested low, so if it holds this range and drops .60 reasonable bet
01[13:43] {&Threei} Short Setup: GDX  .40 break
01[13:43] {&Threei}  If holds  .45
01[13:45] {&Threei}  Invalidated
01[13:59] {&Threei}  does C have enough will to live to reach 1:2?
01[14:04] {&Threei}  here it is
01[14:05] {&Threei}  1/4 more out
01[14:05] {&Threei}  takes a lot of patience but hey... it's not like there is much to do anyway
01[14:05] {&Threei}  100% day so far, with nice juicy winners
01[14:11] {&Threei}  stop to .65
01[14:11] {&Threei}  .64
01[14:14] {&Threei}  out in full
01[14:15] {&Threei}  quite nice day
01[14:16] {&Threei}  if only someone would talk to me
[14:20] {nemo} what do I look like, a psychiatrist?
01[14:21] {&Threei}  actually, anyone I can have a drink with, works for me as such
[14:24] {nemo} indexes turning into a repeat of Friday
[14:44] {ese} man this is psychologically taxing
[14:44] {nemo} don't stick your chin out like that
01[14:44] {&Threei}  eschew the anxiety
01[14:44] {&Threei}  embrace the serenity
01[14:45] {&Threei}  White House confirms Jimmy Carter is going to North Korea on a private visit
01[14:45] {&Threei}  they can keep him as far as I am concerned
01[14:55] {&Threei}  too bad we backed off of FB break
[14:58] {nemo} iwm at bottom of channel, could pop here
01[14:59] {&Threei}  from under .40 I'd be interested
[15:04] {nemo} mnst
01[15:05] {&Threei} Long Setup:  IWM  .40 bre35
01[15:05] {&Threei}  ummm
01[15:06] {&Threei} Long Setup:  IWM  .35 break
01[15:06] {&Threei}  If holds  .30
[15:06] {nemo} make up your mind
[15:06] {nemo} cavernous stop
[15:11] {+cc_9} CF blowing up on Loeb!
[15:11] {nemo} thought it was awful quiet today
01[15:11] {&Threei}  lol
01[15:20] {&Threei} Short Setup: FB  .35 break
01[15:20] {&Threei}  If holds  .40
[15:21] {+cc_9} CF no letting go, still cranking
[15:21] {+cc_9} there will be a short trade on this thing before the close
01[15:24] {&Threei} Short Setup: FB  .45 break
[15:33] {+cc_9} CF, all eyes on 198 ahead of the close
01[15:43] {&Threei}  OK guys, very nice day
01[15:43] {&Threei}  have a great evening, see you tomorrow
[15:46] {+cc_9} ditto
[15:47] {bbobr} gn