Wednesday, August 28, 2013

Aug 28 2013

Well, we planned to try shorting into bounces and did it today. 1:4 and them some, and look at the beautiful setup on this one

Very nice day overall, with many good trades throughout the day.

Session Time: Wed Aug 28 00:00:00 2013
[09:12] {dino} gm
01[09:12] {&Threei}  morning dino :)
[09:12] {RonS} howdy
01[09:12] {&Threei}  ron :)
[09:13] {cipher} gm
01[09:14] {&Threei}  cipher :)
[09:16] {fish_49} gm all
[09:17] {fish_49} pending homes sales today and petro  anything I missed?
01[09:17] {&Threei}  fish :)
01[09:17] {&Threei}  missed good day yesterday, with 1:3er called specufucally for you
[09:18] {fish_49} I seen it on Face book and was drooling
[09:18] {fish_49} DBI?
01[09:18] {&Threei}  yup
01[09:19] {&Threei}  - 10:00 {US) July Pending Home Sales M/M: 0.0%e v -0.4% prior; Y/Y: 7.9%e v 9.1% prior
[09:19] {fish_49} Wife had dental surgery yesterday and was scared  so I had  to hold her hand  and missed a day of trading
[09:19] {fish_49} lol
[09:22] {robbers} And in return, she holds your hand while trading?
[09:22] {fish_49} omg  no
01[09:22] {&Threei}  lol
[09:22] {fish_49} I just kicked her out of the office....
[09:23] {robbers} Kidding, especailly if it was your mouse hand.
[09:23] {fish_49} lol
[09:23] {robbers} No mouse, no trades.
[09:23] {dino} no less, no more
01[09:23] {&Threei}  wait... you guys never got the "eye command" software enabled??
[09:23] {robbers} No Les, no hassles.
01[09:24] {&Threei}  ask cc9 when he is in
[09:24] {dino} value added research, deutsche bank raises tif to 73 target, hold. tif currently trades at 79
01[09:25] {&Threei}  lol
[09:27] {+cc_9} gm
01[09:28] {&Threei}  cc9 :)
[09:28] {fish_49} Eye Command Software
[09:28] {fish_49} ?
[09:29] {fish_49} like a left handed screw Driver?
01[09:29] {&Threei}  unstead of mouse... you just move your eyes and blink to send orders
01[09:29] {&Threei}  cc9 provides access to it
[09:29] {Alexs} gm
01[09:30] {&Threei}  alex :)
[09:30] {fish_49} ohhhhhh  Bet that works well with lil vodka
01[09:30] {&Threei}  crap, C
01[09:30] {&Threei}  wanted short entry
[09:31] {+cc_9} GDX long ?
01[09:31] {&Threei} Short Setup: GDX  .60 break
[09:31] {nemo} would look to short it in the .85 area
01[09:31] {&Threei}  If holds  .65
[09:31] {+cc_9} keeping an eye on JOY
[09:32] {fish_49} News  today?
[09:32] {fish_49} Earnings?
01[09:32] {&Threei}  just don't blink... you may buy it inadvertently
01[09:34] {&Threei} Short Setup: C  .90 break
01[09:34] {&Threei}  If holds  .95
01[09:35] {&Threei}  1:1
[09:35] {fish_49} out half
[09:36] {+cc_9} Pending home sales @ 10:00
01[09:36] {&Threei}  1:2
[09:36] {fish_49} out 1/4
01[09:37] {&Threei}  frikin GDX
[09:37] {+cc_9} indexes coming back slightly
01[09:38] {&Threei}  out last 1/4 C on a trail
[09:38] {fish_49} Out C  thanks Vad
01[09:38] {&Threei}  yw
01[09:38] {&Threei}  disciplined trading
[09:38] {fish_49} I trailed stop to .81
01[09:38] {&Threei}  yup
01[09:38] {&Threei}  GDX, you SoMG
[09:39] {fish_49} translation needed  SoMG
[09:39] {fish_49} I'm sure it's not nice
01[09:39] {&Threei}  son of a motherless goat
[09:39] {fish_49} lol
[09:39] {fish_49} lol
[09:39] {nemo} better than being the son of a Jackal
01[09:42] {&Threei} Short Setup: GDX  .60 break
01[09:42] {&Threei}  If holds  .65
[09:43] {dino} bws hl l .40
[09:44] {+cc_9} I think today is the major reversal day we've been waiting for.
01[09:44] {&Threei}  who's we
[09:44] {Alexs} lol
[09:44] {+cc_9} me, loaf and toad.
[09:44] {nemo} yeah white man
[09:44] {fish_49} out GDX
01[09:45] {&Threei}  I for one prefer falling market
[09:45] {fish_49} Plunger Boy
[09:45] {nemo} I prefer anarchy
01[09:45] {&Threei}  are you kidding me GDX
[09:45] {+cc_9} Yes, but DIA looks poised for a 150 dead cat test before anything
01[09:48] {&Threei}  can't believe it did it twice
[09:48] {fish_49} Blinked at wrong time?
01[09:49] {&Threei}  I guess... cc9, we need to fine tune that asoftware
[09:49] {dino} gut still says we're in buy the dip market
01[09:49] {&Threei}  again... oh no
01[09:50] {&Threei}  I like whack-a-mole so much more
[09:50] {nemo} I would expect potential consolidation area today until Syria resolves itself
[09:51] {fish_49} I thought already resolved...Russia and China said stay away
[09:51] {nemo} don't quit your day job
[09:51] {dino} he'll throw a couple missles out and thats it. already gave time for assad to hide
[09:51] {fish_49} no missles
[09:52] {dino} he doesn't have the guts to do that
[09:52] {fish_49} Kerry has backed himself into a corner
[09:52] {dino} maybe he'll "lead from behind" france
[09:53] {fish_49} now they are looking for easy way out of the corner
[09:54] {dino} only way he reacts if politicaly incorrect talk starts over there
[09:55] {nemo} the spread variability in nugt is impressive
[09:55] {nemo} I think it would be easier to trade BRKA
[09:55] {+cc_9} Here is how it will play out : cruise/tomahawk missiles at night, flatten airports and surface-to-air. Cargo in a ton of ammo for Al Nusra {our allies) in the hopes of forcing Assad into a corner.
[09:56] {nemo} yeah, pretty advanced air defenses, unless of course Russia has given us the back-doors
[09:57] {nemo} Maybe we sent them a printer
[09:57] {dino} our another nsa guy
[09:57] {+cc_9} S-300 are pretty effective, but 200+ cruise missiles firing within 24 hours are hard to counter.
[09:58] {nemo} what u say dino?
[09:58] {nemo} ahhh
[09:59] {nemo} before the beginning of the first Iraq war, Saddam's air defense system bought a printer
[09:59] {nemo} unfortunately, it had a little extra programming in it
[09:59] {dino} ahh
[09:59] {+cc_9} Housing data should be out any second now
[09:59] {nemo} courtesy of Fort Meade by way of IBM
01[10:00] {&Threei}  *{US) JULY PENDING HOME SALES M/M: -1.3% V 0.0%E; Y/Y: 8.6% V 7.9%E
[10:01] {+cc_9} flop
[10:02] {fish_49} expectation was -1.0?
[10:03] {+cc_9} yes, and real was -1.3
[10:05] {+cc_9}
01[10:07] {&Threei} Short Setup: WMT  .50 break
01[10:07] {&Threei}  If holds  .55
[10:08] {fish_49} missed it
01[10:08] {&Threei}  ?
[10:08] {fish_49} oops
01[10:08] {&Threei}  Invalidated
[10:09] {fish_49} Need new glasses  I see VMT
[10:09] {fish_49} damn
[10:10] {nemo} sheesh, joy walking the ledge
01[10:10] {&Threei} Short Setup: BBRY  .35 break
[10:10] {fish_49} numbers are at 11 am  right?
01[10:10] {&Threei}  If holds  .40
01[10:13] {&Threei}  meh
[10:13] {fish_49} out
[10:13] {+cc_9} JOY, won't touch till .75 bid
[10:13] {nemo} that's vwap might fail there
[10:14] {+cc_9} GDX 5min's candles look silly. Alternating.
[10:15] {nemo} bear flag
[10:17] {dino} safe hl l .18 ave
[10:19] {fish_49} safe?
[10:20] {dino} safm
01[10:20] {&Threei} Short Setup: CAT  .80 break hl
01[10:20] {&Threei}  If holds  .90
01[10:21] {&Threei}  1:1 if you got it
[10:21] {fish_49} half
[10:23] {fish_49} out in full
[10:23] {fish_49} ty Vad
01[10:24] {&Threei}  yw
[10:26] {+cc_9} Long SPY here, looking for 164 breakout and reversal. Sitting @ wall for now
[10:26] {dino} rcl hl l .95
01[10:29] {&Threei}  *{US) DOE CRUDE: +2.9M V -0.5ME; GASOLINE: -587K V -1ME;
[10:31] {nemo} range day shaping up
[10:34] {dino} tif sm l .20
[10:36] {+cc_9} meh bounce, looking for more
[10:55] {+cc_9} SPY reversal slow and steady
[11:08] {+cc_9} test
[11:09] {fish_49} Obama administration officials say they are still at the point of determining what the U.S. hopes to achieve with a punitive military strike before proceeding with any action
[11:09] {fish_49} lets study it and hope the problem goes away
01[11:10] {&Threei} Long Setup:  CAT  .10 break
01[11:10] {&Threei}  If holds  .82
01[11:11] {&Threei}  Invalidated
01[11:12] {&Threei}  valid again
01[11:15] {&Threei}  invalidated again
01[11:19] {&Threei}  valid again
01[11:20] {&Threei}  this is like that device with button "F{*& On/F{*& Off
[11:21] {RonS} lol
01[11:21] {&Threei}  1:1
[11:21] {fish_49} out half
[11:21] {+cc_9} JOY there she goes
01[11:22] {&Threei}  1:2
[11:22] {fish_49} nice push
01[11:23] {&Threei}  out on a trail
01[11:24] {&Threei}  grrr... 1:3
[11:24] {fish_49} out in full thanks Vad
01[11:24] {&Threei}  :)
[11:26] {+cc_9} JOY } $50.00 :D
01[11:28] {&Threei}  grrr... 1:4
01[11:28] {&Threei}  Attacks on Syria in reprisal for its use of chemical weapons may be starting a bit later than expected yesterday as indications of more deliberation by the administration have emerged. Reports suggest that the Obama Administration is still crafting its response, while the UN said inspectors will not be withdrawn until Sunday, September 1st.
01[11:44] {&Threei}  Tesla Motors Hearing weakness attributed to vague chatter regarding battery problems
[11:50] {+cc_9} Here comes the push
01[11:56] {&Threei} Long Setup:  GDX  .80 break
01[11:56] {&Threei}  If holds  .75
[11:59] {+cc_9} SPY reversal so far so good, same idea since the open.
[12:04] {fish_49} meh
[12:04] {fish_49} x 2
[12:04] {fish_49} I thought it was ready to Lock and Low
[12:04] {fish_49} that's Korean for Rock and Roll
01[12:05] {&Threei}  things I learn...
[12:05] {fish_49} lol
[12:05] {fish_49} Koreans can't pronounce the letter R
[12:13] {Will49} Weekly check-in
01[12:13] {&Threei}  hey will
[12:13] {Will49} hey
[12:13] {RonS} hi Will
[12:13] {dino} hi will
[12:13] {Will49} am jealous of your August results :{
[12:13] {fish_49} afternoon Will
[12:13] {Will49} hi dino, fish
[12:14] {Will49} that'll teach me for taking time off
[12:14] {Will49} hi Ron
[12:15] {Will49} see ya again Sep 3
[12:17] {fish_49} Have a great day all.  Thanks Vad...  Gotta run
01[12:18] {&Threei}  take care fish
[12:23] {dino} out rcl .30, +.35
[12:27] {+cc_9} SPY still going, so far so good. tgt 164.60 from initial entry of 163.76
01[12:32] {&Threei} Short Setup: CAT  .20 break
01[12:32] {&Threei}  If holds  .25
[12:55] {nemo} gdx vad
01[12:59] {&Threei}  don't see anything definitive
01[13:00] {&Threei}  bobbing up and dpwn
01[13:00] {&Threei}  I mean fown
01[13:00] {&Threei}  with toad on its back
[13:14] {+cc_9} UBNT looking for a fade at some point, too big a run, no profit taking
01[13:35] {&Threei}  {DE) Germany Fin Min Schaeble: Would reject coalition government with the SPD party, Steinbrueck's SPD party would threaten progress the present government has already achieved- Warns that ESM funds would be rapidly exhausted if it was used for retroactive bank recapitalizations. - The figure of €10-11B in aid through 2016 mentioned by Greece looks plausible.
01[13:35] {&Threei}  I don't think I am going to live that long but I can see clearly the headline: 2050, Greece asked for another 15B
01[13:37] {&Threei} Long Setup:  GDX  .45 break
01[13:37] {&Threei}  If holds  .40
[13:43] {dino} 10 b here 10 b there, pretty soon it starts to add up
01[13:44] {&Threei}  yeah but the idea is to get the lenders in so deep, they havbe no choice but continue lending
01[13:44] {&Threei}  if I am not mistaken, this practice is called "kiting" in bank slang
[13:47] {RonS}
01[13:48] {&Threei}  1:1
01[13:50] {&Threei}  education continues Ron, lol
[14:02] {RonS} actually J Paul getty popularized the concept with the quote in the '60's:  If i owe the bank $1 million, they own me, if i owe the bank $100 million I own them...
01[14:03] {&Threei}  yup
01[14:04] {&Threei}  stop to .49
01[14:09] {&Threei}  1/4 more out
01[14:10] {&Threei}  stop to .54
[14:37] {dino} always heard it differently. if i owe the bank 100k its my problem. if i owe bank 1 million, its their problem
[14:39] {dino} right now i think its more germany's problem than greece
[14:39] {RonS} coulda Senator Dirkson's quote about "a million here, a million there, and pretty soon it adds up to real money"...
[14:39] {dino} wsm crazy train
[14:40] {dino} 59 to 61 to 58 in minute
01[14:40] {&Threei}  it's very true dino
01[14:42] {&Threei}  {SY) US State Department: Cannot let diplomatic paralysis to prevent action on Syria, will take "appropriate measures" in the coming days- Syria cannot hide behind Russia at the UN.
[14:42] {dino} rgld drop
01[14:42] {&Threei}  NYSE volume 285M shares, about 21% below its three-month average; - NASDAQ volume 856M shares, about 18% below its three-month average;
01[14:42] {&Threei}  miners are getting hit hard
01[14:43] {&Threei}  and we are not short GDX :{
01[14:54] {&Threei} Short Setup: SLW  27 break
01[14:54] {&Threei}  If holds  .05
01[14:57] {&Threei}  1:2
01[14:59] {&Threei}  fish will be crying
01[15:01] {&Threei}  out in full
01[15:01] {&Threei}  .55
01[15:02] {&Threei}  +.43
01[15:02] {&Threei}  cah I go home?
01[15:04] {&Threei}  Alex, this is what you wanted yesterday... shorting into bounces
[15:04] {Alexs} love it ty
01[15:04] {&Threei}  your wish is my command
[15:05] {Alexs} lol
01[15:05] {&Threei}  you ordered, I delivered
01[15:12] {&Threei}  missed juicy one, robbers
[15:13] {robbers} Darn, my trading platform was messed up.
[15:13] {robbers} Or I was, one or the other.
01[15:13] {&Threei}  well, for the former, cc9 can help
01[15:13] {&Threei}  for the latter... hmmm
01[15:14] {&Threei}  but look at this beauty:
[15:15] {robbers} Wow, now I feel worse.
01[15:15] {&Threei}  nemo made me do it
[15:15] {robbers} But happy for you guys, nice one.
[15:16] {robbers} Let's try that again now that I'm back up.
[15:25] {dino} out bws .50, +.10
[15:26] {dino} all dayer, safm to .33
01[15:29] {&Threei} Long Setup:  SLW  .30 break
01[15:29] {&Threei}  If holds  .25
01[15:32] {&Threei}  1:1
[15:37] {dino} out tif .10, -.10
01[15:38] {&Threei}  1:2
[15:38] {robbers} Out in full, thanks.
01[15:38] {&Threei}  yw... that was your speical
01[15:38] {&Threei}  man... I feel like delivering them custom-ordered
01[15:39] {&Threei}  one for alex, one for robbers
[15:39] {robbers} The "robbers" call, how appropriate for a winning trade.
[15:39] {nemo} what are you blaming me for?
01[15:39] {&Threei}  practically everything
01[15:39] {&Threei}  agree, you are very convenient for that
[15:39] {nemo} ahhh....true brow beaten husband
[15:40] {dino} you'd make a good waiter vad
01[15:40] {&Threei}  lol
01[15:41] {&Threei}  chef rather
[15:41] {nemo}
01[15:41] {&Threei}  I am not just bringing them, I am cooking therm
[15:43] {Alexs} and eating them too
01[15:43] {&Threei}  lol, best of both worlds
[15:47] {robbers} Thanks again, Vad, that last call made a good day even better.  Appreciate it.
[15:47] {dino} out safm .34, +1.14, took all day
[15:47] {robbers} It was worth it though, wtg.
01[15:47] {&Threei}  :)
01[15:48] {&Threei}  nice one dino
[15:48] {dino} indeed and thx
[15:49] {nemo} spy is trying to hold a longer term trend line which is intersecting the 164 level
[15:52] {dino} seas drop
[15:54] {dino} news leak/earnings?
[15:54] {dino} sm l .75
01[15:54] {&Threei}  SeaWorld Entertainment Reportedly cuts ticket prices at SeaWorld theme parks due to declining attendance - financial press
[15:56] {dino} out seas .07, +.32
01[15:56] {&Threei}  nice finish to the day
01[15:56] {&Threei}  thank you all, have a great evening
01[15:56] {&Threei}  see you tomorrow