Wednesday, July 31, 2013

July 31 2013

Perfect way to start one's trading day. Not that continuation was any worse, with 4 wins out of 4 trades at the time of this post.

One more Catch of the Day to polish it off and finish third great day in a row, GM reversal

Session Time: Wed Jul 31 00:00:00 2013
[09:15] {cipher} gm
01[09:15] {&Threei}  morning cipher
[09:22] {bbobr} gm
01[09:22] {&Threei}  bbobr :)
[09:22] {RonS} halo...morning offering to nemo...
01[09:23] {&Threei}  ron :)
[09:23] {nemo} what u offerin'?
01[09:23] {&Threei}  finest wines and cheeses? I am in
[09:23] {nemo} I'll settle for a....nevermind
01[09:25] {&Threei}  I feel like I made a breakthrough into 21 century... my printer died, so I got a laser one, for under 100 dollars - and it's connected to all my comps wirelessly
01[09:25] {&Threei}  setup took all of 5 min
01[09:25] {&Threei}  I still remember hours of connecting computers into network and to internet
01[09:26] {&Threei}  configure this, configure that
01[09:26] {&Threei}  now all the pieces do it vy themselves, just let them
01[09:26] {&Threei}  miracles of technology...
[09:27] {Alexs} gm
01[09:27] {&Threei}  alex :)
01[09:27] {&Threei}  missed two great days
[09:28] {Alexs} :(
01[09:28] {&Threei}  MOS another gap down
01[09:30] {&Threei} Short Setup: GDX  .10 break
01[09:30] {&Threei}  If holds  .15
01[09:33] {&Threei}  1:1
01[09:35] {&Threei}  1:2
[09:35] {robbers} Out, great start.
[09:37] {RonS} chi pmi at 42...
01[09:39] {&Threei}  with official release for mortals at 45
[09:40] {Alexs} nice call Vad :)
[09:41] {Alexs} thanks
01[09:41] {&Threei}  yw
01[09:41] {&Threei}  out in full at 1:3
01[09:42] {&Threei}  just in time to sit out PMI
01[09:43] {&Threei}  meanwhile,
01[09:43] {&Threei}  I believe in a two-term limit for politicians. One term in office, one term in jail.
[09:43] {robbers} LOL.
[09:43] {Alexs} lol
01[09:44] {&Threei}  *(US) JULY CHICAGO PURCHASING MANAGER: 52.3 V 54.0E
01[09:45] {&Threei}  yikes
01[09:45] {&Threei}  look under the hood:
01[09:45] {&Threei}  - Prices Paid: 63.6 v 59.9 prior - New Orders:53.9 v 54.6 prior - Employment: 56.6 v 57.8 prior - Inventories: 37.7 v 41.4 prior - Supplier Deliveries: 51.0 v 46.9 prior - Production: 53.6 v 57.0 prior - Order Backlogs: 42.9 v 38.4 prior
01[09:46] {&Threei}  horrible pucture
01[09:46] {&Threei}  recovery my a$$
01[09:48] {&Threei} Long Setup:  MOS  .40 break hl
01[09:48] {&Threei}  If holds  .30
01[09:49] {&Threei}  1:1
[09:53] {ese} gm
[09:53] {nemo} everyone has an opinion
[09:53] {nemo} looks like we're already in Fed mode
01[09:54] {&Threei}  ese :)
01[09:55] {&Threei} Short Setup: MOS  .30 break hl
01[09:55] {&Threei}  If holds  .40
01[09:57] {&Threei}  1:1
[10:01] {nemo} mon 200sma and daily s2 in the low .20's likely bounce there unless market STBs
01[10:04] {&Threei}  (US) President Obama Aide indicates selection of new Fed Chair would be weeks away; no decision yet made
01[10:04] {&Threei}  stop the charades, Yellen is your gal - there is no one leftier
01[10:05] {&Threei}  lefter?
01[10:06] {&Threei} Long Setup:  IWM  .02 break
01[10:06] {&Threei}  If holds  .95
01[10:09] {&Threei}  Invalidated
[10:13] {ese} L sync .55
01[10:16] {&Threei} Long Setup:  CAT  .30 break hl
01[10:16] {&Threei}  If holds  .20
[10:20] {ese} opps thats symc...sorry
[10:22] {ese} I thought they put Carlos in jail in the seventies.....after he blew up everything there was to blow up.....not to mention the venerial disease he caught
[10:24] {nemo} well, mon isn't getting the bounce I thought it would, frickin' scalp
[10:24] {nemo} Frickin' Fed Day
01[10:26] {&Threei}  held by fingertips
01[10:26] {&Threei}  give us 1:1 now
01[10:27] {&Threei}  no news for SPY spike
[10:28] {nemo} inexorable assault on 170
01[10:28] {&Threei}  inexorable? I thought we banned all the words longer than 2 syllables till after the Labor day
01[10:28] {&Threei}  1:1
[10:28] {nemo} onward
01[10:29] {&Threei}  1:2
[10:29] {ese} out symc .35 -.20
01[10:33] {&Threei}  14:00EDT US FOMC Interest Rate Decision
01[10:33] {&Threei}  in case you forgot the time
01[10:37] {&Threei}  so far so good, 4 wins out of 4 calls
01[10:38] {&Threei}  let's move to profit preservation mode
01[10:39] {&Threei} Long Setup:  GDX  .80 break
01[10:39] {&Threei}  If holds  .75
06[10:45] * &Threei kicks GDX in the rear
01[10:53] {&Threei}  meh
[11:03] {robbers} Thanks for a good morning, Vad, see you this afternoon.
01[11:03] {&Threei}  take care robbers
01[11:20] {&Threei} Short Setup: WMT  .25 break
01[11:21] {&Threei}  If holds  .30
[11:29] {nemo} more weakness in the indexes
01[11:29] {&Threei}  much appreciated
[11:30] {nemo} frickin' rabbit sitting at my feet begging for raisins, sheesh
[11:30] {nemo} wmt vwap .16, likely bounce
[11:31] {ese} L symc .44
01[11:31] {&Threei}  GDX, should have continue with shorting on it... slides more
01[11:33] {&Threei}  Japan's industrial production drops at fastest pace since Fukushima
01[11:37] {&Threei} Long Setup:  C  .30 break
01[11:37] {&Threei}  If holds  .25
01[11:42] {&Threei}  aimless drifting
[11:52] {nemo} what's the news on V?
01[11:52] {&Threei}  Visa Inc. Judge said to have rejected Fed debit card swipe fees regulations in suit brought by retailer group over debit card rules - press
01[11:53] {&Threei}  ***Reminder: In June 2011, the Fed approved regulation 235.3(b), under which an issuer may not charge or receive any interchange transaction fee that exceeds the sum of 21 cents plus 5 basis points of the transactions value. The statute exempted any debit card issuer that, together with its affiliates, has assets of less than $10 billion. Later in 2011, a group of retailers filed a lawsuit against the Fed challenging new debit card fee rules.
01[11:53] {&Threei}  plus, decent earnings by MA
[11:53] {nemo} might get index bounce here
01[11:54] {&Threei}  (GR) Germany IFO's Carstensen: Greece needs another debt haircut- Believes the German government is mulling a plan to waive interest payments or extend maturities on existing debt.
01[11:55] {&Threei}  lose that .20 already, WMT
01[11:55] {&Threei}  good boy
[11:58] {ese} forgot to mention that i got stopped out even with my remaining position of acad .92 +/- .00
[11:58] {ese} from yesterday
[12:01] {nemo} mmmhhhh, this is unusual for a Fed day
[12:07] {ese} in what way nemo?
01[12:13] {&Threei}  WMT 1:1
01[12:28] {&Threei}  setting cover at 1:2 and stop at b/e, taking a break
01[12:28] {&Threei}  be back before FOMC
[12:34] {ese} ocz
[12:34] {ese} opps
[12:34] {ese} take over chatter
[12:35] {ese} was looking for info on the trade the news site....typed it into the wrong place
[12:41] {+cc_9} MA & V, crashity crash
[12:42] {nemo} this is amazing for a Fed day
[12:45] {nemo} db on FAS? spy at open
[12:45] {nemo} iwm just about to close gap
[12:50] {nemo} like fas .35 break?
[13:11] {RonS} really strange day...V $14 off low and no comment from cc...
[13:12] {nemo} that time of the month I guess
[13:12] {nemo} thanks for the setup Ron
[13:14] {+cc_9} V, monster comeback
[13:14] {RonS} lol
01[13:37] {&Threei}  back
01[13:37] {&Threei}  WMT gave 1:2
[13:40] {+cc_9} RIP Ackman, looks like this year will be his last
01[13:40] {&Threei}  lol
[13:41] {RonS} "Making money is always a lot of fun, making money when Bill Ackman is losing on the other side is like going to the circus" -Robert Chapman
[13:42] {ese} hmmmmmmmm possibly some money now with symc hmmmmmmmmm
01[13:42] {&Threei}  amazing how quickly he earned this horrid repitation after HLF fiasco
[13:42] {nemo} He became the tall tree
[13:42] {nemo} ripe for the woodsman's axe
[13:43] {nemo} the young buck, got violated
[13:54] {Will49} Weekly technical check-in. Good luck today guys
[13:54] {robbers} Thanks Will, appreciate it.
[13:55] {Will49} :)
[13:55] {nemo} oy vay...where are you?
[13:55] {Will49} on vacation
01[13:56] {&Threei}  hey qwill
[13:56] {nemo} that's more a condition than a location
[13:56] {nemo} where are you?
01[13:56] {&Threei}  missing good days
[13:56] {Will49} have daughter visiting from Taiwan
[13:56] {Will49} Yes, I see that Vad
[13:57] {Will49} Cheers
01[13:57] {&Threei}  see dcc
01[13:59] {&Threei}  FOMC time
01[14:00] {&Threei}  *(US) FOMC HOLDS FED FUNDS RATE TARGET AT 0.25% (AS EXPECTED): INFLATION POSES A RISK BELOW ITS OBJECTIVE- Vote: 11-1 (Fed's George lone dissenter)
01[14:01] {&Threei}  - To support a stronger economic recovery and to help ensure that inflation, over time, is at the rate most consistent with its dual mandate, the Committee decided to continue purchasing additional agency mortgage-backed securities at a pace of $40 billion per month and longer-term Treasury securities at a pace of $45 billion per month. The Committee is maintaining its existing policy of reinvesting principal payments from its holdings of agency debt and agency mortgage-backed securities in agency mortgage-backed securities and of rolling over maturing Treasury securities at auction. Taken together, these actions should maintain downward pressure on longer-term interest rates, support mortgage markets, and help to make broader financial conditions more accommodative.
[14:04] {+cc_9} VXX on a free fall
[14:04] {nemo} the Bernanke Put is still in place
01[14:05] {&Threei} Short Setup: GDX  .70 break
01[14:05] {&Threei}  If holds  .75
01[14:05] {&Threei}  1:1
01[14:06] {&Threei}  1:2
01[14:06] {&Threei}  like shooting fish in a barrel
[14:12] {robbers} Out in full, thanks for the fish sandwich.
01[14:13] {&Threei}  lol
01[14:14] {&Threei}  A rule requiring public companies to disclose how much their chief executives are paid compared to average workers will be issued “in the near future,” according to the chairwoman of the Securities and Exchange Commission (SEC).
01[14:14] {&Threei}  “I hope that it is completed in the next month or two,” Mary Jo White said at a Senate Banking Committee hearing on Tuesday.
[14:23] {+cc_9} SSO teenies on fed day, a thing of beauty
01[14:26] {&Threei} Long Setup:  GDX  .70 break
01[14:26] {&Threei}  If holds  .65
[14:27] {Alexs} .80?
01[14:27] {&Threei}  no
01[14:27] {&Threei}  aggressive for .75
01[14:27] {&Threei}  tight stop
01[14:27] {&Threei}  ugh
01[14:27] {&Threei}  wait'
01[14:27] {&Threei}  wrong symbol
01[14:27] {&Threei}  too many stocks
01[14:28] {&Threei} Long Setup:  C  .70 break
[14:28] {Alexs} c
[14:28] {Alexs} ok
01[14:28] {&Threei}  If holds  .65
01[14:29] {&Threei}  valid still
01[14:29] {&Threei}  with .63 stop
01[14:30] {&Threei}  breakout time me thinks
01[14:34] {&Threei}  1:1
01[14:35] {&Threei}  see, me can think
01[14:35] {&Threei}  who would have though
01[14:35] {&Threei}  by now after years of thoughtless trading that avility should have become rudimentary
01[14:38] {&Threei}  1:2
[14:39] {robbers} Another dead fish, PETA will be looking into this.
01[14:39] {&Threei}  as long as they use naked girls to send their message, I will tolerate their bs
[14:40] {RonS} lol
01[14:41] {&Threei}
[15:00] {nemo} gotta' think they ram this over 170, or else tease us then gap it up tomorrow
01[15:04] {&Threei}  Australian fisherman fights his way OUT of a shark
[15:04] {nemo} hahaha saw that
[15:05] {nemo} think his name was Jonah
01[15:05] {&Threei}
[15:07] {ese} out symc .76 +.32
[15:07] {RonS} if it was ese size...good job
[15:11] {ese} not too big 1600 shs
01[15:14] {&Threei} Long Setup:  C  .45 break
01[15:14] {&Threei}  If holds  .40
01[15:16] {&Threei}  1:1
[15:20] {nemo} here's your index long setups
[15:23] {nemo} this is an interesting Fed day, usually it's a stall, but we had a range of movement, and now we're selling off
01[15:25] {&Threei} Long Setup:  GM  .70 break
01[15:25] {&Threei}  If holds  .65
[15:26] {nemo} where'd that come from?
[15:26] {+cc_9} MOS heading back near day lows
01[15:26] {&Threei}  GM?
01[15:26] {&Threei}  sharp selloff
[15:26] {nemo} MON also
01[15:26] {&Threei}  bounce time
[15:26] {nemo} what, the big "O" visiting?
[15:26] {+cc_9} will be intredasting to see what it does @ $41.00, yes I said it
[15:27] {nemo} selfie 9?
01[15:27] {&Threei}  ffuuka? lol
[15:27] {+cc_9} you avin' a giggle mate ?
01[15:28] {&Threei}  this might become my favorite word of the day
[15:28] {+cc_9} MOS $0.35 from more intredast
01[15:29] {&Threei}  1:1
[15:30] {+cc_9} its trying to hold .35, but the bids are taking a dirtnap
[15:30] {RonS} took gm .698 to .86 +.1620000 (ese style)  thanks 3i...
01[15:30] {&Threei}  :)
01[15:30] {&Threei}  ese size too?
[15:31] {RonS} nah, piker 1k
[15:31] {Alexs} trading gods like you today Vad :)
01[15:31] {&Threei}  they like me this whole week'
[15:32] {nemo} like u long time
01[15:32] {&Threei}  it's all in knowing their favorite sacrifice
01[15:32] {&Threei}  finest wines and cheeses, you know...
01[15:32] {&Threei}  chicken works too
[15:32] {nemo} mmmhhhhh...things have really picked up since Les left
[15:32] {RonS} lol
[15:33] {nemo} must be they don't like Australians
01[15:33] {&Threei}  in fact, I need to try salmon fins and heads
01[15:33] {&Threei}  if that works, then trading gods are a lot like crabs
[15:33] {+cc_9} MOS bid splat, nearing LOD
[15:34] {RonS} at least fins and heads are cheap...
01[15:34] {&Threei}  chicken backs and necks are too
01[15:34] {&Threei}  $2 a tray, enough to fill two traps
[15:34] {nemo} fish heads fish heads, roly poly fish heads, fish heads fish heads eat 'em up , yum!
[15:35] {RonS} must be a Yankee song...
[15:35] {nemo} Monty Python me thinks
[15:35] {nemo} either that, or I heard it on Dr. Demento when I was a kid
[15:35] {RonS} explains a lot...
[15:36] {RonS} :D
[15:36] {nemo}
01[15:36] {&Threei}  1:2
[15:46] {nemo} big spy volume, trrying to bottom this thing
01[15:49] {&Threei}  ok guys, thank you all
01[15:49] {&Threei}  have a good evening, see you tomorrow
[15:49] {Alexs} thank you Vad, great day!
01[15:49] {&Threei}  :)