Tuesday, April 30, 2013

Apr 30 2013

As customary with us, next day after a rare losing one we get them right back. One stop out of 8 or 9 trades, the rest are all wins. Ranging from scalps to 1:3, long and short, GDX, C, FB and whatnot.


Session Time: Tue Apr 30 00:00:00 2013
[09:04] {jdetente} Good morning...
01[09:06] {Threei}  morning jd
[09:09] {nemo} I have a bunny attached to my neck
01[09:10] {Threei}  I don't even know what to say... that's beyond any normal conversation-starters
[09:11] {dino} gm
01[09:12] {Threei}  dino :)
[09:12] {cipher} gm
01[09:12] {Threei}  cipher :)
[09:20] {Will49} gm
01[09:20] {Threei}  will :)
[09:21] {backman} gm
[09:21] {Les} yo
01[09:21] {Threei}  bman, les :)
01[09:22] {Threei}  - Euro Zone Unemployment hits fresh EMU record of 12.1%
01[09:23] {Threei}  - Equity markets in Europe are mostly higher
01[09:23] {Threei}  yup... sounds about right
[09:24] {KSystems} morning
01[09:24] {Threei}  KS :)
[09:26] {Alexs} gm
01[09:26] {Threei}  alex :)
01[09:32] {Threei} Long Setup:  GDX  .45 break
01[09:33] {Threei}  If holds  .40
01[09:33] {Threei}  Invalidated
[09:33] {dino} aegr spike
01[09:33] {Threei} Long Setup:  C  .90 break
01[09:34] {Threei}  If holds  .80
01[09:34] {Threei}  GDX got away
01[09:34] {Threei}  C 1:1
01[09:35] {Threei} Long Setup:  GDX  .40 break
01[09:35] {Threei}  If holds  .30
[09:35] {thomcbell} hig very strong out of the gate on earnings
01[09:37] {Threei}  C 1:2
[09:37] {nemo} finnies ripping
01[09:38] {Threei}  GDX 1:1
[09:39] {nemo} cat
[09:39] {cipher} PRGO L .85
01[09:40] {Threei}  C 1:3, out
[09:40] {cipher} FFIV L.81
[09:40] {cipher} INFA L.55
01[09:41] {Threei}  wow
[09:41] {Les} strong market
[09:41] {cipher} out FFIV .23 +.42
01[09:41] {Threei}  are we looking at the same market les? :)
[09:41] {Les} yes, forgot the smiley face
[09:42] {Les} :)
[09:42] {cipher} out INFA .70 +.15
01[09:43] {Threei}  no news... what was that?
[09:43] {Les} turnaround tuesday
01[09:44] {Threei}  *(US) APR CHICAGO PURCHASING MANAGER: 49.0 V 52.5E
01[09:45] {Threei}  Prices Paid: 51.0 v 61.0 prior - New Orders: 53.2 v 53.0 prior - Employment: 48.7 v 55.1 prior -
01[09:45] {Threei}  deflation and underemployment
01[09:45] {Threei}  ugly
[09:45] {Les} C .95?
[09:45] {Les} short?
01[09:46] {Threei}  no
01[09:46] {Threei} Short Setup: GDX  .30 break
01[09:46] {Threei}  If holds  .40
01[09:47] {Threei}  1:1
[09:48] {Les} can smell the printer ink being primed from switzerland
[09:49] {cipher} LOGM L.60
[09:49] {nemo} mouse clicks dude
[09:49] {cipher} sial l.33
[09:49] {cipher} out SIAL .59
[09:50] {Les} C death...
[09:52] {backman} NUAN..nothing good to say
[09:53] {dino} osk sm l .32 piulp
01[09:53] {Threei} Long Setup:  CAT  .60 break hl
01[09:53] {Threei}  If holds  .50
01[09:53] {Threei} Long Setup:  C  .70 break
01[09:54] {Threei}  If holds  .65
[09:54] {Les} 2 way?
01[09:54] {Threei}  CAT was
[09:54] {dino} axll sm l .95
01[09:54] {Threei}  C, can't tell
[09:56] {cc_9} Better late than never.
[09:56] {cc_9} Morning gents.
01[09:56] {Threei}  cc9 :)
01[09:56] {Threei}  numbers at 10, let's wait out
[09:57] {cipher} ibb l.81
[09:58] {thomcbell} wow that quicck double top in lvs 1:6
[09:58] {thomcbell} in 10 min
01[09:59] {Threei}  *(US) APR CONSUMER CONFIDENCE: 68.1 V 61.0E
[10:02] {dino} out osk .89, +.67
01[10:03] {Threei} Short Setup: CAT  .50 break
01[10:03] {Threei}  If holds  .60
[10:03] {Les} C db?
[10:04] {dino} wtf .50 slip hard stop out axll -89
[10:04] {Les} ouch
[10:06] {dino} .axll sm l .18
01[10:06] {Threei} Short Setup: C  .60 break
01[10:06] {Threei}  If holds  .70
[10:09] {dino} wll sm l .22
[10:09] {cipher} infa l.26
01[10:10] {Threei}  stop to .66
[10:11] {dino} symc
01[10:12] {Threei}  out
[10:15] {cipher} out INFA .43 +.17
[10:15] {cipher} UTEK L.01
01[10:15] {Threei} Long Setup:  LVS  56 break
01[10:15] {Threei}  If holds  .90
[10:16] {thomcbell} thc 44.14 break if holding 44.04
[10:17] {cipher} ilmn l.62
01[10:18] {Threei}  1:1
[10:20] {thomcbell} thc 1:1
[10:20] {thomcbell} briefly 1:2
[10:20] {Les} CAT might setup c&h if it holds here
[10:21] {nemo} think more likely to short if gets back to 84 unless market runs
[10:22] {thomcbell} thc 1:2
[10:22] {Les} yeh contemplated .90 short, but so close to 84 wanted to see a recross
[10:22] {nemo} thing has been weak since the get go and you're looking for a long to go where?
[10:22] {nemo} just call Les "javelin catcher"
[10:23] {thomcbell} thc 1:3
[10:23] {Les} contrary, looking for aggressive entry to hand it over too longs at 84
[10:23] {thomcbell} 1:4
[10:23] {thomcbell} 1:5
[10:23] {Les} something like this
[10:24] {thomcbell} and out
01[10:24] {Threei}  wtg
[10:24] {thomcbell} tu
[10:26] {thomcbell} long setup hca 40 break if holding 39.91 - looks not ready yet but will move well if triggered
[10:26] {dino} out axll .43, +1.25
[10:27] {thomcbell} hca invalid
[10:28] {thomcbell} hca might have been a shakeout there
01[10:31] {Threei}  IBM *RAISES DIVIDNED; AUTHORIZES BUYBACK
[10:32] {dino} ironic, they always issue low and buy high
[10:34] {nemo} allows the officers to sell back to the company before the price tanks
[10:34] {dino} better use would be just dividend
[10:35] {nemo}  for whom?
[10:35] {dino} common
[10:35] {nemo} ibm at the 200 day
[10:36] {thomcbell} phwew thc
[10:48] {dino} out wll .67, +.45
01[10:49] {Threei}  US President Obama: Syria has been a slow unfolding disaster, the US has not been a bystander, reiterates President Assad must step down
01[10:49] {Threei}  Assad: yes... gimme coupla min to get my things
[10:50] {KSystems} :D
[10:50] {KSystems} {Assad} wtf
[10:51] {dino} tfx?
01[10:54] {Threei}  nothing on TFX since earnings in the morning
[10:54] {Les} GDX short .10?
[10:54] {dino} feels like wants up
[10:54] {dino} tfx
[10:54] {dino} lol, and drops
[10:55] {dino} .50 break trig
01[10:56] {Threei}  I think so Les
01[10:56] {Threei}  chart's right, time is not very conducive
[10:57] {cipher} DISH L .90
[11:01] {cipher} +.40 TFX thx dino
[11:02] {dino} gj
[11:05] {thomcbell} good spot for a db to form on aig - at marning low
[11:05] {thomcbell} morning
01[11:06] {Threei}  GDX worked
[11:06] {thomcbell} hca setup there again with 40 long break
[11:07] {cipher} DISH stopped .92 +.02
[11:12] {dino} tfx wall .75
01[11:14] {Threei} Short Setup: LVS  .15 break
01[11:14] {Threei}  If holds  .25
01[11:18] {Threei}  1:1
01[11:18] {Threei}  so far so good... what are we, 5 for 6 or something?
01[11:20] {Threei}  don't answer all at once
[11:21] {cipher} DISH L .75
[11:21] {Will49} too busy watching
[11:21] {Will49} but yes, nice morning
01[11:22] {Threei}  you mean you are trading with your eyes open will??
[11:22] {Will49} the other way didn't work too well
01[11:22] {Threei}  interesting concept...
[11:22] {Will49} more profit with eyes open
01[11:23] {Threei}  well, I can't open them since watching yesterday's election debate... my retina is burned
[11:23] {thomcbell} wow should have stuck with thc
[11:23] {thomcbell} for additional entries
[11:23] {Will49} when you call a trade at half lot, i only open one eye
[11:23] {thomcbell} instead of looking for hca
[11:23] {Will49} yeah, leaders debate was a pure bore
01[11:24] {Threei}  those are our choices, eh
[11:24] {Will49} pretty sad
[11:24] {Will49} kinda liked Jane Sterk's style though
[11:26] {cipher} biib l.11
[11:29] {KSystems} grmpf
01[11:29] {Threei}  no such symbol
[11:29] {KSystems} rrrr?
01[11:30] {Threei}  there was RRRR in 90s
[11:30] {Will49} you must be a pirate Ksystems
[11:31] {KSystems} like...Arrr?
[11:31] {Will49} :)
[11:32] {thomcbell} hca still valid
[11:39] {Les} sorry vad was doing taxi missed gDX
01[11:40] {Threei}  out last part LVS
[11:41] {Will49} nice trade...tks Vad
[11:41] {dino} geva drop thinny
01[11:41] {Threei}  :)
[11:43] {cipher} BIIB stopped .99 -.12
[11:49] {cipher} BIIB L .31
[11:50] {cipher} out .57
[11:50] {cipher} got him back
[11:57] {nemo} one could make an argument for shorting the indexes here
[11:57] {nemo} I would prefer to see IWM break 94 first
[11:58] {nemo} gap closes around 94.02
[11:58] {nemo} give or take an HFT spread
[12:03] {Les} GDX 29 short?
[12:04] {nemo} you want to do a breakdown at lunch?
[12:04] {Les} I want you to belt up
[12:04] {nemo} riding shotgun with you will definitely shorten my life
[12:04] {Les} gap closure to .25 is a potential
[12:05] {Les} on wathc for later
01[12:09] {Threei}  I remember widespread complaints about Apple maps being unreliable
01[12:09] {Threei}  with cartoons of penguins walking among polar bears, swearing about iPhone maps
01[12:10] {Threei}  yet:
01[12:10] {Threei}  Apple Inc Said to be planning an "aggressive" move into automobile integration, to embed maps and siri functionality into cars - CNET- Apple is currently working with car makers to integrate iPhones and perhaps iPods into car consoles. Apple envisions a way for iPhone owners to plug their devices into cars and then use specially optimized versions of Siri and Maps for in-vehicle use
[12:11] {dino} \going after msft sync
[12:12] {nemo} try mpc short les
[12:14] {cipher} +.10 mpc thx nemo
[12:14] {nemo} np, should be good to the whole
01[12:14] {Threei}  nice one
[12:15] {stevw} SLW off db support at 23.40 while SLV is well above morning lows
[12:15] {stevw} opinions?
01[12:15] {Threei}  new bunny looks to be quite keen on the market moves
[12:15] {nemo} below the whole
[12:15] {nemo} yeah, old bunny really discombobulated
01[12:15] {Threei}  it's at .48, stec... ?
[12:16] {nemo} this long term trend line MPC
[12:16] {stevw} i was a little slow to call it
01[12:16] {Threei}  anyway, a bit too narrow
01[12:17] {Threei}  don't see it as a play
[12:17] {cipher} mpc l .00
[12:17] {cipher} out .21
01[12:18] {Threei}  .40 break, maybe...
[12:19] {thomcbell} short setup abv - 40.49 break if holding 40.60
[12:20] {nemo} wow, that MPC trendline was strong bounce
[12:21] {dino} cnh sm l .00 break
[12:22] {thomcbell} abv invalid
[12:25] {thomcbell} rptp got approbal on a drug - on a tear
01[12:25] {Threei} Short Setup: SLW  .40 break
[12:26] {Les} inverted cup and hanlde?
01[12:27] {Threei}  kind of
[12:27] {Les} k
[12:28] {dino} cnh no go
[12:29] {nemo} mgn looks good short here
[12:29] {cipher} rptp s .50
[12:29] {Les} mgn?
[12:29] {nemo} len too
[12:30] {cipher} cov .30 +.20
[12:31] {nemo} wlt coming into bounce terrritory
[12:31] {nemo} vxx being bought
[12:32] {nemo} frickin' rabbit crawled down my shirt
[12:33] {jdetente} vxx and various similar etfs have been a consistent short all year
[12:33] {cipher} BIIB L .51
01[12:35] {Threei}  Invalidated
[12:36] {nemo} vrtx interesting spot
[12:40] {jdetente} HCA 1:1
[12:42] {nemo} vrtx good short against .10
[12:43] {nemo} except...indexes and aapl headed up...indexes probably get held up until aapl decides what it wants to do at 460
[12:46] {nemo} here comes IWM gap fill
[12:46] {jdetente} HCA 1:2
[12:46] {nemo} uninstalled IE10...was screwing with my system
[12:47] {Will49} rabbit distracted you
[12:47] {nemo} no
01[12:47] {Threei}  I haven't opened IE any single time ever since installing Win7
[12:47] {nemo} my system has been acting a bit screwy, so I default to investigating microsoft software
[12:47] {nemo} I only use it for Freestockcharts
01[12:48] {Threei}  Chrome
[12:48] {nemo} yeah, I have to kill chrome once or twice a day, silverlight has stability problems on it, no surprise, it's a microsuck product too
[12:49] {nemo} I'm very tempted to put Linux on my next box
01[12:49] {Threei}  if you have many tabs open, make sure you set Chrome to open with all tabs it had when closed
01[12:49] {Threei}  then you won;t have to reopen them one by one
[12:49] {nemo} wow volume coming into iwm
[12:53] {thomcbell} hca got 1:2
[12:53] {thomcbell} stopping last 1/4 40.03
01[12:55] {Threei}  how on earth did I forget about TNA .10 break
01[12:56] {Threei}  had it on a backburner
[12:56] {cipher} MELI S.88
[12:58] {nemo} Redux is dreaming, twitching
[12:59] {jdetente} needs to be nursed?
[13:00] {nemo} eats hard foods now, but was trying to nurse of of Bunny, she was verklemmt
[13:00] {jdetente} that must of been quite the scene
[13:01] {nemo} funny as hell
[13:01] {nemo} but poor Bunny is confused about her territory now
[13:01] {thomcbell} short setup jcp 16.78 break if holding 16.86
01[13:02] {Threei}  *(SI) MOODYS CUTS SLOVENIA SOVEREIGN RATING TO JUNK; cut two notches to Ba1 FROM Baa2; outlook remains negative- Moody's cites deterioration of Govt balance sheet and the state of the banking sector - Feels country faces undertain funding prospects and the increasing probability that it will need external assistance
01[13:02] {Threei}  heh
[13:04] {dino} shocking
[13:15] {cipher} FAST L .45
[13:16] {cipher} LBTYA L .32
[13:17] {cipher} VPRT L .45
[13:19] {cipher} out fast .65 +.20
[13:19] {thomcbell} jcp 1:1
01[13:23] {Threei} Short Setup: FCX  .95 break
01[13:23] {Threei}  If holds  30
[13:25] {cipher} out LBTYA .40 +.08
[13:28] {cipher} SPWR L .30
[13:37] {Les} C creeping closer to intraday low
[13:39] {Will49} out JCP..tks Tbell
[13:40] {Will49} shheeesh Tbell...don't take it so hard :)
[13:43] {jdetente} FCX valid again?
[13:45] {Will49} that question is above my pay grade
01[13:46] {Threei}  yes
[13:47] {jdetente} thanks Will...
[13:47] {Will49} :)
01[13:51] {Threei}  no
01[13:51] {Threei}  maybe
[13:52] {cipher} out SPWR .39 +.09
[14:05] {Les} spectacular drop from RIG this morning. closer to 51 for a short play into close maybew
[14:07] {cipher} splk l.02
[14:10] {cipher} FIRE L.07
[14:10] {jdetente} hmmm I guess FCX kinda got away
01[14:11] {Threei} Short Setup: GFX  .40 break
[14:11] {dino} nihd l .65
[14:11] {Les} that's gotta be GDX
01[14:11] {Threei}  sigh... yes
[14:14] {cipher} out FIRE .34 +.27
[14:14] {cipher} out SPLK .07 +.05
[14:16] {dino} out nihd .82, +.17
01[14:16] {Threei}  invalidated anyway
[14:17] {Les} short MON here vad?
[14:17] {Les} hl?
[14:17] {Les} h&s
01[14:17] {Threei}  yup
[14:21] {Les} HD .45 short holding .55?
01[14:21] {Threei}  can't tell
[14:22] {Les} well... ask it :)
[14:22] {Les} I swear we need a woman in this room
[14:23] {nemo} we have you
[14:23] {Will49} you mean another woman Les
[14:23] {dino} fire drop
[14:23] {Les} yeh straight on Nemo's head please dino
[14:25] {dino} fire l .34
[14:27] {dino} stop -.32
[14:27] {dino} rinsed
01[14:31] {Threei}  Upon hearing GPS agreeing with my wife, I swore off ever arguing with her again.
[14:31] {Will49} LOL
[14:33] {backman} wife....or gps?
01[14:33] {Threei}  both actually
[14:33] {nemo} vrtx
[14:34] {backman} dang, this GDX move rly has no volume in it....tempted
01[14:35] {Threei}  me too, waiting for a setup to form
01[14:35] {Threei} Short Setup: GDX  .60 break
01[14:35] {Threei}  If holds  .65
[14:36] {nemo} Hey Les, when were you in NH?  http://yhoo.it/YbDGmV
[14:36] {Les} no go MON
[14:37] {jdetente} life savings eh?
[14:37] {jdetente} haha
[14:37] {Les} his ego almost as big as yours Nemo
[14:37] {nemo} can't fix stupid
[14:38] {cipher} SPLK L.79
[14:38] {nemo} vrtx not ready to give up that level I guess
[14:40] {cipher} expe l .80
[14:40] {cipher} out EXPE .88
[14:41] {Will49} sweet
[14:42] {patel} hello
[14:42] {Will49} hey
01[14:43] {Threei}  hey patel
01[14:43] {Threei}  missed good morning...
[14:43] {patel} figured.
[14:43] {patel} atleast yall had a good morning.
01[14:43] {Threei}  not spectacular
01[14:44] {Threei}  (trying to make you feel better)
[14:44] {patel} yeah this morning would have been great
[14:45] {cipher} SPLK stopped .72 .-07
[14:48] {Les} notice GDX closed gap from yesterdays intraday low here
[14:48] {Les}  afternoon low
[14:49] {nemo} cat might be a short here
[14:50] {Les} GDX short .75?
[14:50] {Les}  holding .80?
01[14:50] {Threei}  yes
[14:50] {Les} watching slw for break of support here
01[14:51] {Threei}  same setup repeating itself at different peice levels, has to trigger at some point
[15:08] {jdetente} 1:1
[15:08] {Les} took some off at .666
[15:08] {Les} .66
01[15:08] {Threei}  has to be capable of 1:2
[15:08] {Les} first number be Nemo's skype handle
[15:09] {nemo} rubber crutch funny
01[15:11] {Threei}  [GM] Exec: not giving up on its Chevy Volt electric vehicle, despite losing money on every sale; will get cheaper to produce over time- Next generation of Volt will be $7-10K cheaper to produce.
[15:11] {Les} LOL sounds like a gold bug's investing strategy
[15:13] {Will49} even though we're losing money on every car, we're making it up on volume
[15:17] {Les} scalp scalp calp
01[15:23] {Threei} Long Setup:  FB  .75 break
01[15:23] {Threei}  If holds  .70
01[15:29] {Threei}  what on earth gave groupon an idea that I would want to go on Guided Himalayan Trek to Mount Everest Base Camp
[15:29] {Les} 100 sherpas beating up some european hikers I guess
[15:29] {Les} now no one wants to go
[15:29] {Les} groupon picks up on the cheap :)
[15:30] {Les} http://www.guardian.co.uk/world/2013/apr/30/everest-climbers-sherpa-mob-attack
[15:33] {Les} show me the link, I'll post Nemo one as a gift
01[15:34] {Threei}  half out FB
01[15:47] {Threei}  I guess 160 tomorrow for SPY
[15:48] {nemo} there's a ton of econ info coming out in the next 15 hours or so starting with China
[15:48] {nemo} 161 tomorrow ;-)
[15:48] {nemo} if the news is good
01[15:48] {Threei}  it will be mostly negative, and market will shake it off and go up
01[15:49] {Threei}  that's my version of the future
[15:49] {nemo} I see a bottle in your future
[15:51] {dino} fed tomorrow i think
01[15:51] {Threei}  yeah
01[15:51] {Threei}  non-event
[15:52] {nemo} be dead from 10:30 until then though
[15:56] {Will49} great day Vad...let's keep it rollin'(tomorrow)
01[15:56] {Threei}  thank you all
01[15:56] {Threei}  have a good evening
[15:56] {Les} cheers
[15:56] {jdetente} gn all
01[15:56] {Threei}  as always, we get them right back
01[15:56] {Threei}  see you tomorrow
[15:58] {patel} take care

Monday, April 29, 2013

Apr 29 2013


Slow creep up day with low volume, not our trading environment. Not many setups worked as follow-through is minimal on such days, so finished in the red.

Session Time: Mon Apr 29 00:00:00 2013
[08:56] {nemo} check email vad
01[09:01] {Threei}  I don't want to... it would be an admission that Monday is here and we have to work. And I refuse to admit that
[09:02] {nemo} oh, grow up
01[09:02] {Threei}  no, I'll live in denial
[09:02] {nemo} I sent you a picture of the newest member of the family
[09:03] {stevw} how is everyone on this beautiful Monday morning?
[09:03] {nemo} I hate this guy
[09:03] {stevw} lol
[09:03] {nemo} nothin' personal of course
01[09:04] {Threei}  good way to poke nemo, stev :)
[09:04] {stevw} what can I say - I'm a morning person and I'm quite enjoying this new chapter in my life as a trader
[09:04] {patel} Good Morning
[09:04] {cipher} gm
[09:04] {nemo} whoa, birdbrain is back
01[09:05] {Threei}  patel, cipher :)
[09:10] {Les} whatever Nemo said just ignore him, he's a crank
[09:10] {Les} morning all
01[09:10] {Threei}  Les :)
[09:11] {nemo} Les...open your email
[09:11] {nemo} everybody else, block your ears
[09:12] {dino} gm
01[09:12] {Threei}  dino :)
[09:13] {Les} heh?
[09:13] {Les} bwaahahahahahaaa
[09:13] {Les} papa all over again
[09:13] {nemo} yeah, naming it Redux
[09:13] {nemo} don't know if it's gonna live yet
[09:17] {Les} I spy with my little eye a lower high in uncle buck? Or are we just range bound...
[09:17] {Les} rhetorical question
[09:20] {Will49} gm
01[09:20] {Threei}  will :)
01[09:21] {Threei}  LVS in red
[09:24] {Alexs} gm
[09:24] {nemo} sina dino
01[09:24] {Threei}  alex :)
[09:24] {nemo} 60.50 23.6 retrace
01[09:27] {Threei}  no clear opening play, will wait a few min
01[09:27] {Threei}  LVS on radar for short, but its volatility on the open is unbearable, gotta let it settle down
[09:30] {jdetente} gm
01[09:30] {Threei}  jd :)
[09:30] {thomcbell} gnw on long watch
[09:31] {Will49} ugly spread LVS
[09:31] {nemo} want ungly spread...sina
01[09:31] {Threei}  see above
[09:31] {nemo} want plain ugly...see Les
01[09:32] {Threei} Short Setup: GDX  30 break
01[09:32] {Threei}  If holds  .10
[09:32] {Les} I dunno. that ugly spread just made near $1
01[09:32] {Threei}  change to .15 break
01[09:32] {Threei}  If holds  .25
01[09:34] {Threei}  no secondary entry, touched too close to 1:1
[09:34] {Les} k missed .13
01[09:34] {Threei}  1:1 if you caught it
[09:35] {thomcbell} thc is retarded here
01[09:35] {Threei}  that was one mighty drop, LVS
01[09:36] {Threei}  1:2 GDX
[09:37] {Les} GDX aaargh
01[09:37] {Threei}  1:3, close it here
01[09:37] {Threei} Long Setup:  GDX  .85 break
01[09:37] {Threei}  If holds  .80
[09:40] {thomcbell} thc 45.57 break half lot
[09:41] {thomcbell} if holding 45.90
[09:42] {thomcbell} aig looking for db
[09:42] {dino} thc sm s .61
[09:42] {thomcbell} thc not a scalp for me
01[09:43] {Threei} Long Setup:  C  .91 break
01[09:43] {Threei}  If holds  .85
01[09:44] {Threei}  no go GDX
[09:44] {thomcbell} aig no go - still watching
01[09:45] {Threei} Short Setup: SLW  .75 break
01[09:45] {Threei}  If holds  .85
[09:46] {dino} cov thc .05, +.56 ty tbell
01[09:46] {Threei}  wtg
[09:47] {thomcbell} covered 1/4 thc around here at 45
01[09:47] {Threei}  no go C
01[09:47] {Threei}  longs are not in fashion
[09:48] {dino} wtg tbell
[09:48] {thomcbell} another 1/4 in here in 44.60's
01[09:49] {Threei}  trail SLW to .81
01[09:50] {Threei}  not liking market's fluctuations
01[09:50] {Threei}  patternless
01[09:50] {Threei}  often happens on Monday morning
[09:52] {nemo} 57 support sina
[09:52] {thomcbell} long setup aig 40.62 break if holding 40.52
01[09:54] {Threei} Short Setup: LVS  55 break hl
01[09:54] {Threei}  If holds  .10
[09:56] {thomcbell} thc flat
01[09:56] {Threei}  stubborn support .98
01[09:57] {Threei}  finally
01[09:57] {Threei}  1:1
[10:00] {thomcbell} aig 1:1
01[10:01] {Threei}  *(US) MAR PENDING HOME SALES M/M: 1.5% V 1.0%E; Y/Y: 5.8% V 6.1%E
01[10:02] {Threei}  1:2
01[10:02] {Threei}  what the deuce?
01[10:05] {Threei}  seriously, what the hevck just happened? no news at all for this spike
[10:05] {nemo} homes, just need an excuse
01[10:06] {Threei}  what homes, 3 minutes from numbers
01[10:06] {Threei}  such sudden spikes don't wait 3 min after news, they happen right away
[10:06] {nemo} was at 10
01[10:06] {Threei}  numbers yes, spike at 10:03
[10:06] {Les} flushed shorts holding 159
[10:06] {Les} ass top
[10:07] {thomcbell} aig 1:2 and out
[10:07] {cipher} THRX L .49
[10:07] {nemo} on algo nothing but green
[10:08] {cipher} SBNY L .03
01[10:08] {Threei}  SPY goes for 160
[10:08] {nemo} vx dropping...
[10:12] {Les} C long .00?
[10:12] {Les} nah
01[10:12] {Threei} Short Setup: TROW  .98 break
01[10:13] {Threei}  If holds  .09
01[10:13] {Threei}  .08, sorry
01[10:14] {Threei}  slow one, don't take it if not willing to wait
[10:14] {Les} C hsort .95 holding .05?
[10:14] {Les} could turn into c&h
01[10:15] {Threei}  S rather looks like long to me
01[10:15] {Threei}  C
[10:15] {Les} k
[10:16] {cipher} out THRX .82 +.33
[10:16] {dino} wyn sm l .93
[10:16] {thomcbell} short stup possible here aig
[10:16] {thomcbell} waitin g
01[10:20] {Threei} Long Setup:  GG  .45 break
01[10:21] {Threei}  If holds  .35
01[10:22] {Threei}  Invalidated
[10:22] {cipher} out SBNY .10 +.07
[10:24] {Les} JPM 49 break long?
[10:24] {Les} holdgin .95?
01[10:25] {Threei}  yes
[10:25] {thomcbell} thc was a bad cover
[10:27] {dino} ditto
01[10:32] {Threei}  not liking today's market
01[10:33] {Threei}  slim pickings
[10:33] {dino} same
[10:36] {thomcbell} kors long setup 57.21 long break half lot
01[10:37] {Threei} Long Setup:  CAT  .70 break
01[10:37] {Threei}  If holds  .60
[10:41] {thomcbell} jca looks a bit vulnerable here too
[10:41] {thomcbell} hca
01[10:42] {Threei}  Invalidated
[10:42] {jdetente} CAT triggered didn't it?
01[10:42] {Threei}  it did?
01[10:42] {Threei}  must have looked away
[10:43] {jdetente} yeah hit .73
[10:43] {nemo} iwm bull flagging
[10:43] {thomcbell} kors invalid
[10:44] {nemo} fas about to break highs
01[10:44] {Threei}  crawl up and stall market... one I hate the most
[10:45] {nemo} vodka then
01[10:45] {Threei}  did we have it too easy for too long? :)
[10:45] {Les} or tight ass day signalling change may be coming...
[10:45] {Will49} very poetic...crawl up and stall :)
[10:45] {nemo} sounds like Les' sex life
[10:45] {Les} I like crawl up and vomit
[10:46] {Will49} LOL
[10:46] {Les} not bad not bad
[10:46] {nemo} Redux is inspiring me
[10:46] {nemo} although, at the moment, all I'm seeing is the ass-end
[10:50] {dino} wyn stop -82 -.11
[10:54] {stevw} CAT interesting? symmetrical continuation triangle? c&h?
01[10:55] {Threei}  well, it's the same setup that failed last time
01[10:55] {Threei}  don't know
01[10:55] {Threei}  may work second time arond, may fail again
01[10:56] {Threei}  this is what patternless days are
[10:57] {Les} tight stop on LVS bounce at 55 might offer decent r/r
[11:02] {jdetente} sure is patternless. same failure on CAT again.
[11:03] {thomcbell} thc looks like possible 44 break short
[11:03] {thomcbell} if holding 44.10
01[11:03] {Threei}  yeah, that's why I don't want to be stubborn and try to break the wall with my forehead
[11:04] {dino} auxl sm l .15 stop lod
[11:04] {thomcbell} thc invalid
[11:05] {nemo} didn't expect to be nursemaiding a rabbit through a syringe...sheesh...gonna' ruin my reputation
[11:05] {jdetente} used to doing it all natural?
[11:05] {Les} what u feed it?
[11:06] {Les} feeding
[11:06] {Will49} nice pic of rabbit in your weekend report
[11:06] {dino} lol
[11:06] {nemo} that's bunny...Redux just showed up last night...currently Heavy Cream...nephew going for the specialty stuff after school
[11:07] {nemo} jdetente..not bad...remind me to kill you later
[11:07] {cipher} NXST L .20
[11:07] {nemo} Vad...post picture of Redux
[11:08] {dino} whats redux?
[11:08] {thomcbell} thc 2 sided obviously
[11:08] {nemo} new one's name
[11:08] {thomcbell} wow
[11:08] {dino} another bunny?
[11:08] {nemo} yeah, nephew found a baby in the middle of the street last night on the way home from his girlfriends'
[11:09] {nemo} Bunny was apoplectic..she's never been around another rabbit
[11:09] {nemo} The baby was trying to nurse off her...she was spastic
[11:09] {Will49} are they the same sex?
[11:09] {nemo} don't think so...Redux gonna' have to find a home
[11:09] {nemo} that's all I need...Night of the Lepus
[11:10] {Will49} LOL
[11:10] {dino} cyt sm l .50
[11:10] {thomcbell} looting for a double bottom somehwere near pivot in kors
[11:13] {Les} looking at MON following this EU decision to ban neonicotinoids. might be lower high forming here following the 25th
01[11:14] {Threei} Long Setup:  NFX  .10 break
[11:14] {Les} 15 min time frame
[11:15] {thomcbell} kors still on left side
[11:16] {Les} daily first high 11 April could be making lower high here
[11:23] {dino} out cyt .01, +.51
[11:24] {cipher} wtg
[11:24] {dino} ty
[11:26] {dino} auxl stuck, stop to .99
01[11:26] {Threei}  NFX stop .04
01[11:28] {Threei}  1:1
[11:29] {thomcbell} kors 56.20 break if holding 56.10
[11:29] {thomcbell} invalid
[11:29] {thomcbell} will still watch for similar setup
[11:30] {thomcbell} probably has one more flush in it
[11:31] {Les} CYT
[11:32] {cipher} NXST L .15
[11:33] {cipher} KORS L.10
[11:35] {dino} auxl stop -.17
[11:38] {cipher} KORS stopped .14 +.04
[11:39] {nemo} kors long setup here
01[11:41] {Threei} Long Setup:  GDX  .10 breal
01[11:41] {Threei}  aggressive for .20
01[11:46] {Threei}  volume is 21% below 3-month ave for NYSE, 17 for NASDAQ
01[11:46] {Threei}  that's where lack of follow-through comes from
01[11:47] {Threei}  our winning percentage goes through the roof when we have decent volume and retreats when volume dries up
[11:48] {thomcbell} thc again
[11:48] {thomcbell} looks vulnerable
[11:53] {dino} taking break
[11:54] {nemo} sina might be bottoming
[11:54] {thomcbell} kors not bad cipher
[11:55] {cipher} ACAD L.20
[11:55] {nemo} cipher got out at .14
[11:57] {cipher} yeah bailed out
[11:57] {nemo} yeah, hard to hang out in the drift
01[11:57] {Threei}  listless
01[11:57] {Threei}  breakouts don't work, reversals don't wprk
01[11:58] {Threei}  if GDX falis, aggressive doesn't work either
01[11:58] {Threei}  what else is left?
[11:58] {Will49} vodka
01[11:58] {Threei}  well, yeah... lol
[11:58] {Will49} or BC flag
01[11:59] {Threei}  meh
[11:59] {Will49} speaking of BC flag...is dp still with us?
[12:00] {nemo} back in rehab
[12:00] {Will49} :)
[12:00] {nemo} all his friends are there, he gets lonely
[12:00] {nemo} GMCR coming into bounce territory
[12:03] {cipher} SHLD L .88
01[12:05] {Threei}  here comes next SPY push
[12:06] {cipher} out ACAD .31 +.11
[12:11] {cipher} out SHLD flat
01[12:12] {Threei} Long Setup:  TNA  .15 break
01[12:12] {Threei}  If holds  .05
01[12:24] {Threei}  ok TNA, break .20 and move your frikin butt
01[12:28] {Threei}  this one is my personal present to nemo:
01[12:29] {Threei}  Alcohol doesn't help you find an answer. It helps forget the question.
01[12:37] {Threei}  sheesh
06[12:37] * Threei kicks TNA un the rear
[12:38] {Les} THC might, MIGHT be breaking its range here
[12:43] {Les} out tna flat dinner time
[12:56] {cipher} MON S .31
[12:56] {jdetente} what a day...to stay in bed.
01[12:58] {Threei}  no kidding
[12:59] {dino} indeed. most activity i had was walking dog in the rain this morning
[12:59] {Les} :) how's weather your way dino?
[13:00] {dino} 50 f and rain
01[13:00] {Threei} Short Setup: GG  .85 break
01[13:00] {Threei}  If holds  .95
[13:02] {dino} chh db?
[13:02] {cipher} NXST S .00
[13:03] {cipher} cov .62 +.38
[13:03] {dino} nice
[13:03] {cipher} TY
[13:03] {cipher} cov MON .21 +.10
01[13:03] {Threei}  CHH is a nightmare :)
[13:06] {cipher} NXST L.75
01[13:06] {Threei}  GLD spikes
01[13:06] {Threei}  makes GG a questionable short
[13:07] {nemo} nsc bounce area
[13:09] {stevw} C on a 47 break or are we too much into a midday drift?
[13:10] {backman} GG ...tighten stop?
01[13:10] {Threei}  I would still take this C break, stev
01[13:10] {Threei}  bman, yes but only when it makes new low
01[13:10] {Threei}  then tighten to .91
[13:11] {backman} tu
[13:12] {cipher} ANGI L .37
[13:16] {cipher} out NXST .06 +.31
[13:16] {cipher} ANGI stopped .40 +.03
01[13:19] {Threei}  if GG doesn't work, I'll my keyboard
01[13:19] {Threei}  I'll eat my keyboard
[13:20] {Les} got a vid cam setup on yer pc?
01[13:20] {Threei}  no
01[13:20] {Threei}  I am a luddite
[13:20] {Les} :(
[13:22] {jdetente} please beat GG over the head
[13:22] {jdetente} (Les too)
[13:22] {jdetente} hehe
06[13:22] * Threei hits GG over the head with 2x4
01[13:23] {Threei}  hey, violence works
01[13:23] {Threei}  believe it or not, 1:1
[13:23] {jdetente} ahh perfect timing
[13:23] {Les} thank god for gold miners
[13:24] {Les} nice jd. Nemo wannabe I label you
[13:25] {nemo} ?
[13:25] {nemo} o.k. if NSC gonna' bounce should be here
[13:26] {nemo} well, maybe .40
01[13:26] {Threei}  not that it omptoves the day much but still: over this weekend I have recieved over 1200 likes on one my photos. First time ever seeing such numbers
[13:26] {Les} whichn one
01[13:27] {Threei}  http://goo.gl/8EO4Q
[13:28] {Les} guessing its yer canuck eastern neighbours wishing they were somewhere else :)
01[13:29] {Threei}  nope, that was worldwide
[13:29] {Les} cool
01[13:29] {Threei}  come on C
01[13:29] {Threei}  break and run
01[13:30] {Threei}  ummm... break and enter?
[13:30] {jdetente} and then GG can continue to break down
[13:33] {cipher} ITRI L .18
[13:34] {nemo} gmcr at morning breakout level
[13:35] {dino} zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz
01[13:35] {Threei}  continuing with threats that seem to be working: if C doesn't work, I'll cut my wrist with banana
[13:36] {nemo} I'm going to check on Redux
[13:38] {cipher} ITRI stopped .15 -.03
[13:43] {Les} SPY smiley face chart pattern
01[13:45] {Threei}  I know only one smiley face chart pattern: one that works
[13:45] {Les} not bad
[13:45] {Les} maybe a handle to add to that cup
01[13:45] {Threei}  today most are "shrugging shoulders in irritated resignation" chart pattern
[13:46] {jdetente} or full moon patterns...that's what the stocks are showing us at least
[13:46] {Les} oughta make that one official
01[13:48] {Threei}  hey, C is no moon
[13:48] {jdetente} I didn't say all stocks
[13:48] {jdetente} just the ones that don't work haha
01[13:48] {Threei}  C is your friendly wholesome banker, with morals, ethics and caring attitude
01[13:49] {Threei}  now wait for me while I stop laughing uncontrollably
[13:49] {Les} pathological is the term used in public recently I think
01[13:49] {Threei}  that's wrong word
01[13:49] {Threei}  "pathological nature of Wall Street" is oxymoron
[13:50] {Les} heh you're right
01[13:50] {Threei}  if it's a nature it can't be pathologica
[13:52] {Les} no, but pathologization can be used to define behaviour and is synonymous with disease... quoting wiki
[13:55] {dino} rit
01[13:55] {Threei}  well, either wall street's nature is patholofical from the point of view of an outsider, or its nature is normal and it deviated from its nature... which one is it?
[13:55] {stevw} TNA seems to want to have another go at it
01[13:56] {Threei}  yeah, SPY prepares breakout, so TNA follows
[13:57] {jdetente} C stuck in the mud
[13:57] {jdetente} giving us the half moon
[13:58] {stevw} 47 was firm resistance, maybe it'll be good support now
[14:02] {stevw} or not
06[14:03] * Threei is reaching for banana
01[14:09] {Threei}  keeping stop at .94
[14:15] {dino} rit sm l .34
[14:16] {jdetente} full moon
01[14:16] {Threei}  well, it's a half-sized stop
01[14:16] {Threei}  so I am not sure how to qualify it
[14:17] {nemo} these are index short setups, but I don't trust them
01[14:22] {Threei} Short Setup: GLD  .95 break
01[14:23] {Threei}  If holds  .05
01[14:25] {Threei}  Invalidated
01[14:31] {Threei} Short Setup: GLD  .10 break
01[14:37] {Threei}  1:1
[14:50] {thomcbell} kors small long here 55.99 stop
[14:53] {dino} lote crazy
[14:55] {thomcbell} how did u come across that one
[14:55] {nemo} don't tell him about the chickens
[14:55] {dino} kicking across my 07 scanner
[14:56] {dino} the street.com says its a fraud
[14:56] {dino} can't borrow
[15:01] {Les} strange stock, t&s and level 2 LOTE
01[15:02] {Threei}  my newsfeed doesn't even show it as a real stock, lol
01[15:04] {Threei}  can this really happen that we'd got more than a scalp on GLD?
01[15:04] {Threei}  it better. 'cause I am still working on the banana cutting the wrist
[15:08] {cipher} UNXL L .14
[15:11] {cipher} out .49 +.35
[15:11] {Les} miners returning to morning lows
[15:17] {dino} aegr
[15:17] {Les} small bounce may produce downsloaping h&s on DE. may just drop lower
[15:20] {dino} aegr sm s .72
[15:20] {nemo} where's vwap Les?
[15:20] {Les} why?
[15:21] {Les} PVH might interst you dino
01[15:22] {Threei}  nope, no miracles - merely a scalp GLD
[15:22] {Les} better call your fruit merchant for spare bananas
[15:23] {Les} there, downsloping h&s on DE. let's see what this does
[15:23] {Les} PVH short .40 holding .50?
01[15:24] {Threei}  hl
01[15:24] {Threei}  volatile one
[15:26] {dino} cov aegr .26, +.46
[15:28] {dino} out rit .20, -.14
[15:29] {dino} aegr again spike
[15:35] {Les} banksters obviously haven't been clued into this rally
[15:36] {Les} not a word nemo
[15:36] {nemo} o.k. Les, I'll give you a mulligan
01[15:36] {Threei}  probably worth a try, C short
01[15:37] {Threei} Short Setup: C  .75 break
[15:38] {dino} vc drop
[15:42] {dino} aegr something else
[15:45] {Les} DE pays well from its breakdown at .25
01[15:47] {Threei}  time's running out
[15:47] {Les} PVH 1:1
01[15:48] {Threei}  yup
01[15:48] {Threei}  well, that wasn't our day overall
[15:48] {Les} DE 1:3, PVH 1:2 really gotta wait for the final hour on such a day
[15:49] {Les} knowing when to stop is what trips me up
[15:49] {dino} gj les
[15:51] {Les} too much damage done prior dino, something to work on
[15:51] {cipher} AEGR L .60
[15:51] {cipher} out .79
[15:51] {dino} bummer. i was 3 of 6, but my wins were 2x-3x my stops, so overall ok
01[15:52] {Threei}  that's how our Friday went
[15:52] {Les} c u's for turnaround tuesday
[15:52] {Will49} cheers guys....see you tomorrow
01[15:52] {Threei}  today, just too low percentage of wins
01[15:52] {Threei}  aka clusterf*&k
[15:52] {dino} lol
[15:53] {dino} damn cipher, i was going to short aegr again, but saw him go long
[15:53] {dino} don't like to go againnst his setups
[15:54] {dino} calling it a day, thanks all
[15:54] {cipher} VPRT L.29
01[15:56] {Threei}  thank you all, have a good evening
01[15:56] {Threei}  qwe will get them tomorrow
[15:57] {cipher} stopped .32 +.03
[15:58] {jdetente} gn all

Friday, April 26, 2013

Nemo's Findings week of 4/28/2013

(Course on chart pattern recognition is available now: http://www.realitytrader.com/111trades.html

Another fun week in the markets...well, if you consider flossing with barbed wire fun...



Bunny says...The week that was:

  

In the top left panel we again have the vxx.   Notice how, if anything, the sense of fear in the market dropped.  Yeah, a little insurance was bought on Friday, but nothing to tweet home about.

The FAS actually made new highs for the year yesterday before that little news story about the German courts, so I ran a fib retrace from the most recent swing low to yesterday's swing high and did so for IWM and SPY also.  As you can see, the indexes retraced basically to the 23.6% levels, with the IWM finishing at the Monthly Pivot and vwap, the SPY basicaly on vwap and the finnies, a hair below  (I hear the echo, "close enough for government work.") 


In general, we finished above the weekly pivots in the indexes.  No news was really sold.  I'm not so sure I'd read much into the drop in AMZN after bad earnings.  The Feds are about to remove the on-line tax holiday, so that's one competitive advantage going the way of the dinosaur.  Looking over the indexes the only things that look iffy are the transports.  Also, basic materials have basically been in a box since January.  


Btw...those blue...ahem....turquoise....boxes  are gaps.  As we can see, IWM stopped at a gap, and there is a gap below from the 23rd.  If we do have weakness, look for those gaps to fill.  One could argue the tail down on SPY filled the gap earlier in the week, but that was the AP hacked tweet about Obamabomb, so, I'm giving it a mulligan.

My thought process for the next week.  Btw...if you read the following and agree, seek immediate psychiatric attention...

Anyway, as a prologue, I was saying Friday how I thought they were shooting for a doji on the day.  Lo and behold, what did we get on the indexes....a doji.   Why?  Well, if we look at the slightly larger picture, today was the last day for trades to clear into the end of the month.  So, if there is to be weakness, the need for window dressing was going to keep price pretty tight.  Now, I realize correlation is not causation, but that's the way it worked out today.  For next week, well, for the mutual fund managers to get the high numbers for money coming in on the first, they need to keep the indexes up.  So, and I realize this is not really going out on a limb but, the greater probability is higher next week.  If we do start to get a good pullback, and there has been no exogenous news as the cause, then the big money is not giving the mutual fund managers their gift.  That could be significant. Think about it...If you are screwing your first cousins (not in the biblical sense, mind you), then you must think the fecal matter is about to hit the ventilator.  After me, you come first.

Once the money is in for the month, we're also on the downside of the earnings reporting season and moving into May.  So, we have the SIMAGA setup coming.  How much of a downside effect, if at all, that will have on the market.  Well, you have a greater likelihood of staying married to the same person for life than I would for predicting market direction.  

Anyway, the week that is: 





  

Market Week Wrap-up

TradeTheNews.com  Weekly Market Update: Spring Swoon Prompts Talk of More Easing



- Events this week once again showed how in the new world of QE and central bank "puts", bad news can be good news. In Europe, the German preliminary April manufacturing PMI fell below 50, indicating the first contraction in five months in Europe's only remaining engine of growth. Germany's April IFO survey was also notably weak. In the US, the March durable goods and advance GDP readings were subpar. In China, the April HSBC flash PMI data fell to 50.5, missing expectations, and there were signs of trouble in both import and export data. Earnings in Europe and the US were not especially strong: while Q1 profits have been ok, revenue outlooks for Q2 and Q3 have been downgraded. Nevertheless, major global equity indices (with the exception of the Shanghai composite) racked up good gains on the week, with European bourses up an average of 4 percent in anticipation of the ECB flexing its muscles again. After the weak European data, Commerzbank, Deutsche Bank, Barclays, JP Morgan and Nomura all said that an ECB rate cut of 25 bps is expected at the May meeting next week. Meanwhile talk of the Fed tapering asset purchases this year has quieted. The one bright spot was the UK, where advance Q1 GDP came in at +0.3% q/q, two-tenths higher than expected. Gold has slowly regained ground lost in the first half of April, with spot gold closing out the week around $1,474, a 40% retracement of its April losses. For the week, the DJIA added 1.1%, the S&P 500 gained 1.7% and the Nasdaq rose 2.3%.

- There were ominous signs in both the March durable goods orders report and Q1 advance GDP. The headline -5.7% durables figure was the lowest reading since last August, while February's +5.7% figure was revised lower to +4.3%. The first reading of US GDP was weaker than expected at +2.5%, although it was a big step up from Q4's anemic +0.4%. The consumer spending component of the report was +3.2%, beating estimates and growing at the fastest since late 2010. A big bump up in imports and declines in government spending impaired GDP, while inventory growth and especially farm inventories formed a large part of the positive growth.

- US energy giants Exxon, Conoco and Chevron were impacted by lower crude prices. Exxon's earnings grew barely 1% y/y, while Chevron and Conoco saw profits fall y/y. Strong downstream profits from Exxon and Chevron helped make up the difference, while Conoco, which recently spun off its downstream operations, fared less well.

- Caterpillar missed top- and bottom-line expectations and executives made very mixed comments about business in key US and Chinese markets. The firm cut its FY13 guidance, blaming lower mining demand in an environment of falling commodities prices. However the CEO said this is the first time in years the company is beginning to see stability around the world.

- The sentiment headed into Apple's Q1 report had been very bad for months, so it was no surprise when the firm posted its first quarterly y/y profit decline in over a decade. Investors were not very impressed with Apple's announcement that it would return $100B of its cash to shareholders over the next three years through an increased dividend and share buyback (using borrowed money so it won't have to face a tax penalty from repatriation). Shares had bottomed out from their seven-month slide below $400 just ahead of earnings report, and even with the steep after-hours sell-off on Tuesday, actually gained 2% on the week.

- Shares of Amazon dropped 6% as investors looked past the firm's Q1 headline earnings growth and EPS beat to focus on weaker Q2 guidance. Revenue and income guidance for Q2 was markedly weaker than expected. The firm's gross margin expanded nicely on a y/y basis, however operating margins were narrower both y/y and on a sequential basis.

- Airlines had a turbulent week as the sequester's impact on the FAA snarled traffic across the US, prompting Congress to rapidly pass a special selective withdrawal of the FAA funding cuts. On the earnings front, airline earnings were mixed, but carriers universally benefitted from rock-bottom capacity and lower fuel costs.

- EUR/USD was well contained within recent ranges this week, with the pair gravitating to the lower end of the 1.30 handle. In the wake of the disappointing German PMI and IFO data, ECB members Weidmann, Asmussen, Nowotny, Knot, Bonnici and Constancio widely discussed the pros and cons of more interest rate reductions ahead of next Thursday's policy setting meeting. The Bank of Spain commented that the ECB was tracking economic data with "special attention." Analysts believe that all this commentary clearly suggests that more ECB cuts are on tap if the growth outlook deteriorates further. EUR/USD very briefly touched 3-week lows on Wednesday around 1.2953 but held above 200-day moving average of 1.2936 which now appeared to be formable support.

- Yields on Italian government bonds continued their steady declines as politicians in Rome inched toward forming a new government. On Tuesday, ten-year yields dipped below 4% for the first time since November 2010 after 87-year old President Giorgio Napolitano said he would stay on for another term. Center-left leader Luigi Bersani had failed to gain support for his Presidential candidates and subsequently resigned, turning over the process of forming the new government to lieutenant, Enrico Letta, who began consultations with various senior party officials throughout the week.

- Sterling benefitted from the better-than-expected UK GDP data on Thursday. GBP/USD moved out to four-week highs above the 1.54 handle after the data dropped. EUR/GBP fell 50 pips to test 0.8450. Trade-weighted Sterling hit a 2 month highs. Analysts say the improved GDP data probably took additional QE off the table as an option at the May BoE meeting.

- The yen currency entered the week around recent lows after Japan got the tacit backing of the G20 for its bold policy measures. USD/JPY probed towards 100.00 but fell just 15 pips shy of the key level, which was last broken in May 2009. While the yen has been weakened, the BoJ easing campaign is failing to inspire Japan investors, who sold a net ¥862.6B in foreign bonds last week, for the sixth consecutive week of elevated net sales as Japanese bring money home and pump the Nikkei225 index higher. Dealers continue to watch Japanese life insurance companies and their FY14 funding plans for signs of allocation out of domestic JGB markets and into international bonds.

- In Asia, there were some worries about China on Tuesday after the April HSBC flash PMI data fell to 50.5, less than the 51.5 expected and below the 51.6 reported in March. In addition, the sub-index of new export orders fell below the 50-point level to 48.6 suggesting demand for Chinese exporters remain weak. The yuan rose to a new record high against the dollar on Friday after the PBoC guided the yuan fixing to a surprisingly strong new high for the second consecutive session. Asian markets hit their lows of the week but recovered to trade higher through week's end; conversely the Shanghai Composite closed out the week down 2%. The South Korean economy grew at its fastest pace in two years reporting a preliminary Q1 GDP of 0.9%, higher than the 0.7% expected.



TradeTheNews

Apr 26 2013

Interesting day that was all about trade management. Winners and losers were 50/50, but losers were 5-10 cents while winners were 1:3 and 1:2, thus allowing  to finish the day in the black. Not much but still. Somewhat strange moves in the market, with sudden rug pulls and spikes

Session Time: Fri Apr 26 00:00:00 2013
[08:02] {nemo} Get up you bastards...you can sleep when you're dead...
[08:04] {thomcbell} Gm captain
[08:05] {nemo} I got demoted?
[08:10] {thomcbell} lol
[08:29] {nemo} well that closes the gap up from yesterday
[08:30] {nemo} 157.90 was yesterday's pivot at test of the whole, and the Weekly R1...strong level
[08:49] {patel} Good Morning
01[08:49] {Threei}  morning guys
01[08:50] {Threei}  why is nemo captain? I thought sarg
[08:51] {nemo} I refuse to be pigeon-holed
01[08:51] {Threei}  I bet it's because pigeons are mean
[08:54] {nemo} well,  they're buying amazon back up
[08:55] {stevw} g'mornin everybody
01[08:55] {Threei}  stec :)
01[08:55] {Threei}  c=v
[08:55] {nemo} you'd think Vad had five thumbs
01[08:56] {Threei}  shhhh... don't tell anyone it's 7
01[08:56] {Threei}  frikin Kryptonite genes...
[08:57] {stevw} i'm going to assume i should suppress the urge to make any chrenobyl jokes
[08:58] {nemo} try Chelabynsk, or perhaps Damansky Island jokes
[08:58] {stevw} ah, the Newfoundlanders of Russia
[08:58] {nemo} ?
[08:58] {stevw} Newfoundlanders are the butt of Canadian jokes
01[08:58] {Threei}  yeah, in Rusdia it's chukchi
01[08:59] {Threei}  Russia
[09:02] {stevw} reindeer chukchi or maritime chukchi?  (I'm just showing off that I know how to use Wiki)
01[09:03] {Threei}  both
01[09:03] {Threei}  no one bothered with such distinctions
[09:05] {stevw} to explain for non-Canadians, Newfoundlanders are essentially Irish - - which should suffice for explanation
[09:06] {nemo} I'm Irish, please explain
06[09:06] * nemo racks the slide
[09:07] {stevw} in that case, I'll just say thanks for the Guiness and we'll leave it that
01[09:07] {Threei}  hehe
01[09:07] {Threei}  Guiness, I am on board... but please keep that whiskey
[09:08] {stevw} actually, irish whiskey is gaining respect these days, even amongst scotch drinkers
01[09:09] {Threei}  ok... that wave hasn't reached me yet :)
[09:09] {jdetente} gm
01[09:09] {Threei}  jd :)
[09:10] {stevw} early signs for a down day on the markets, which should be good for me seeing as the up days sucked
[09:17] {nemo} I don't expect it to get out of hand though, they have to get this across the monthly finish line
[09:19] {Will49} gm
01[09:19] {Threei}  will :)
[09:19] {cipher} gm
01[09:20] {Threei}  cipher :)
01[09:21] {Threei}  not very active premarket
[09:22] {stevw} everything i've looked at so far is suggesting a flat open
[09:23] {Alexs} gm
01[09:23] {Threei}  alex :)
[09:27] {backman} gm
01[09:28] {Threei}  bman :)
[09:28] {dino} gm
01[09:29] {Threei}  dino :)
01[09:30] {Threei} Long Setup:  GDX  .75 break
01[09:30] {Threei}  If holds  .65 
01[09:32] {Threei}  Invalidated  
[09:33] {nemo} amzn getting smoked
01[09:33] {Threei} Short Setup: C  .20 break
01[09:34] {Threei}  If holds  .25 
01[09:34] {Threei}  GDX... was two-sided in retrospect
01[09:34] {Threei}  C 1:1
01[09:34] {Threei}  1:2
01[09:35] {Threei}  1:3, out
01[09:35] {Threei}  nice and easy
[09:35] {Will49} beauty
[09:35] {Les} yo what r we in?
[09:36] {jdetente} that was smooth and easy like a Cristopher Cross song. hehe
01[09:36] {Threei}  look at C bar and imagine being short fron .20, Les
01[09:36] {Threei}  lol jd
[09:36] {Les} spot on reversal gj
[09:37] {Les} RIG 51 looks interesting for short
01[09:38] {Threei} Short Setup: GDX  .40 break
[09:39] {Les} thinking like me wtg vad
[09:40] {jdetente} not a good sign Vad...not a good sign
01[09:41] {Threei}  to me thinking at all is not a good sign
[09:41] {Les} oops
[09:41] {Les} looking at chart in same manner then
[09:41] {jdetente} well if we have a stop here it will be because of "thinking" like Les. lol
01[09:41] {Threei}  there it is
[09:41] {dino} wdc sm l .50
[09:42] {Les} hehehe scapegoat accepted
01[09:43] {Threei} Short Setup: LVS  .40 break hl
01[09:43] {Threei}  If holds  .50 
[09:44] {nemo} gappy this morning
[09:45] {Les} managed to grab half shares of GDX as it dropped .50
01[09:46] {Threei}  no go
[09:46] {jdetente} another Les trade. meh
[09:47] {Les} Mushin jd mushin ain't looking for externalities
[09:47] {Les} RIG 51 long?
[09:48] {Les} forget it
[09:48] {dino} away sm l .20
[09:48] {dino} out wdc .90,+.40
01[09:49] {Threei} Short Setup: JCP  .20 break
01[09:50] {Threei}  change to .25 break
[09:50] {nemo} Soros might have to defend his position
[09:52] {dino} out away .60, +.40
[09:54] {Les} crap RIG 1:3
[09:54] {thomcbell} long setup aig 41.57 break
01[09:54] {Threei}  *(US) APR FINAL UNIVERSITY OF MICHIGAN CONFIDENCE: 76.4 V 73.5E
[09:55] {thomcbell} sorry late 
[09:57] {Les} slw short .25 holding .35
[09:57] {thomcbell} aig 1:1
[09:57] {thomcbell} target 1:3
01[09:58] {Threei}  lose that .20 already, JCP
01[10:02] {Threei} Short Setup: C  47 break
01[10:02] {Threei}  meh
[10:03] {Les} JCP's a squeezer I couldn't borrow
[10:04] {Les} slw partial cover at .15
01[10:04] {Threei}  stop .07
[10:05] {Les} higher time frames suggesting Slw and GDX wyckoff distribution potential today
[10:06] {nemo} you been wycking off too much lately, Les
[10:06] {Will49} LOL
[10:07] {Les} c covered .92
[10:07] {Les} ty
01[10:07] {Threei}  yw
01[10:07] {Threei}  1:1
[10:07] {Les} hehehe morning nemo
[10:08] {thomcbell} aig 1:1
[10:08] {Les} quartere cover .05 slw
[10:08] {thomcbell} jcp sure trades like a long 
[10:10] {thomcbell} aig flat second half 
01[10:12] {Threei}  1:2
01[10:12] {Threei}  C... you are our true friend today
01[10:12] {Threei}  "your friendly banker"
[10:12] {Will49} tks Vad...for your friend
01[10:13] {Threei}  Tesla Motors Financial press notes that Tesla Model S sales in Q1 at approx 4,750 will exceed GM Volt sales of 4,400 units
01[10:13] {Threei}  oh, so thet are in competition who sucks less?
[10:14] {Les} last piece slw flat still a bit of life in the miners
[10:14] {thomcbell} long setup qcom 62.1 break if holding 62
[10:15] {nemo} sbux
01[10:15] {Threei}  what's with rug pulls today?
01[10:16] {Threei}  SPY acts as if it keeps ear to the ground and hears distant exposions
[10:16] {Les} trading CAT earlier. Wild cat this morning ripping both ways
[10:16] {thomcbell} no go qcom
[10:19] {nemo} deck
[10:20] {Will49} too early to take to the lifeboats
[10:20] {Les} looking at potential reversal in SLW again, but looks like it wants higher
[10:21] {Les} GDX hesitates
[10:23] {Les} slw short .49 holding .55
[10:24] {dino} hum-dee-dum
[10:25] {Les} partial .40
[10:27] {Les} quarter .30
[10:27] {Les} damn this crazy shit today
[10:27] {Will49} good call Les
[10:27] {Les} 2 of Boeings finest flying over my head
01[10:28] {Threei}  good kangaroo tail reversal
[10:28] {Les} huh?
[10:28] {Les} ty will, a little too quick straight back into resistance
01[10:28] {Threei}  so Les, do you or do you not still have naked chartsd with no indicators?
[10:28] {thomcbell} qcom long setup 62.08 long break if holding 61.98
[10:28] {Les} my TRADING SCREEN charts are naked
01[10:29] {Threei}  ok
01[10:29] {Threei}  and how does it go?
[10:29] {Les} I have a support screen in 3 MINS providing additional information
[10:29] {Les} easier to see a screen without crap on it
[10:29] {Les} see price i mean
[10:29] {thomcbell} target is just 1:2
[10:29] {thomcbell} qcom 1:1
01[10:30] {Threei}  so, just one week with clean charts, and you alreadyh see no need in junk
[10:30] {Les} no I like trading price and volume very simple
01[10:30] {Threei}  come Monday, add BBs
01[10:30] {Threei}  and one simple MA
[10:30] {dino} out qcom .18, +.10 ty tbell
01[10:30] {Threei}  that's all you need
[10:30] {Les} what u using in 1 min time frame on yours
01[10:31] {Threei}  20 MA and BBs
[10:31] {thomcbell} 20 ma on the 1 min Vad?
01[10:31] {Threei}  yeah
01[10:32] {Threei}  50 on daily
[10:32] {nemo} 13 1.7
[10:32] {Les} 1:3 slw and I am flat again
01[10:32] {Threei}  all in all, I believe it was a good experiment, helped you clear things
01[10:32] {Threei}  for 1 min yes, nemo
01[10:32] {Threei}  on daily it's default
[10:33] {Les} yes starting to put indicators in their place
01[10:33] {Threei}  20/2
01[10:33] {Threei}  the more complicated and exotic they are...
[10:34] {Les} which is kangaroo tail GDX or SlW?
01[10:34] {Threei}  remember how during reltless march up for two years, bears were throwing out those Hindenburg Omens and 3 Domes with something
01[10:34] {Threei}  10:24 candle with upward tail
01[10:35] {Threei}  oh, and horribly sounding Death Cross
01[10:35] {Threei}  no one ever heard about those before, but suddenly they were in all articles and blogs
[10:35] {Les} everyone likes a narrative
[10:35] {thomcbell} qcom 1:2
[10:36] {Les} slw again short .20?
[10:36] {Les}  holding .30?
01[10:36] {Threei}  sure enough, none of them ever worked, and market continued up
01[10:36] {Threei}  no read
01[10:36] {Threei}  what kind of setup is that?
[10:38] {Les} shorting into bounce would have been my ideal .25, .20 too late as it dropped into support
[10:41] {nemo} ctxs should be a short between .30 and .40
[10:42] {thomcbell} qcom flat - had that last qtr at 48.38 but didnt get taken
[10:42] {thomcbell} 62.38
01[10:42] {Threei} Long Setup:  GDX  .25 break
[10:42] {thomcbell} i mean
01[10:43] {Threei}  If holds  .15 
[10:49] {thomcbell} prlb looking for a long entry 
[10:49] {thomcbell} feel like this thing might squeeze
[10:51] {thomcbell} kors looks vulnerable here 
01[10:52] {Threei}  1:1
[10:52] {dino} cov
[10:52] {dino} sm l .00
01[10:52] {Threei}  C 1:3, out
01[10:53] {Threei}  last leg took a lot of time but what's our hurry
[10:53] {Will49} you're here till you die
[10:54] {Will49} might as well be amking money :)
[10:54] {Will49} making
01[10:54] {Threei}  with short breaks, to faint as I see asnother earth-shuttering evidence of stupidity
[10:54] {Will49} of course
[10:54] {Les} I didn't say anything
[10:55] {Will49} one needs some entertainment
[10:55] {thomcbell} kors - should have typed the setup - nice little break there 
01[10:55] {Threei}  1:2
[10:56] {Will49} yeah sure tbell...keep the good ones to yourself
01[10:56] {Threei}  hehe
[10:56] {dino} cov stop -.30
[11:02] {thomcbell} wynn flat lvs down 2% 
[11:02] {thomcbell} loooking ofr a double bottom setup here 
[11:02] {thomcbell} your 20 period on the 1 min is a falling knife 
[11:02] {thomcbell} however 
[11:03] {dino} cov rinsed
[11:04] {Les} interesting dollar putting in lower high but market seems torn over it
[11:07] {thomcbell} long setup lvs 55.98 break if holding 55.88
[11:07] {nemo} think Europe Les
[11:10] {thomcbell} lvs invalidated 
[11:13] {backman} GDX heading to ndl?
01[11:14] {Threei}  can;'t tell confidently
01[11:14] {Threei}  rather yes than no, but not enough conviction for a trade
[11:18] {backman} ty
[11:19] {dino} pgti
[11:21] {dino} pgti s .50
[11:22] {nemo} fas
[11:36] {cc_9} GLD NUGT big pullback here
[11:36] {nemo} slv too
01[11:39] {Threei}  no news for this drop
[11:39] {cc_9} getting long this pullback
01[11:39] {Threei} Long Setup:  GDX  .85 break
[11:39] {cc_9} NUGT going to try for $0.35
01[11:40] {Threei}  If holds  .80 
01[11:40] {Threei}  tight stop
01[11:40] {Threei}  no go
01[11:41] {Threei}  gold continues selloff
[11:41] {cc_9} Scaling in, SLV / NUGT i think can squeeze a nice $0.35+ on each
[11:49] {Les} distribution it was. dropped following in favor of taking photos of flowers in garden :)
[11:52] {cc_9} looks like this trade will take longer than anticipated. shiet
[11:52] {dino} pgti stop .66 -.16
01[11:53] {Threei}  drop of a kind I love to exploit but this one came out of nowhere
[11:53] {cc_9} I agree
[11:53] {cc_9} big volume behind it as well
[11:54] {dino} taking break
01[11:54] {Threei}  well, big picture on gold remains negative
[11:56] {Les} GDX long .50 holdgin .40?
[11:56] {cc_9} SLW, very tempting as well, sticking with SLV for now.
01[11:56] {Threei}  nah'
[11:57] {backman} of course, in the land of woulda/shoulda....i thought that blow off high yesterday was going to set the stage for a downward bias in GDX...since my trading has sucked of late....i stayed quiet
[12:03] {Les} so with wyckoff we should see new distribution range here and selloff into close
01[12:09] {Threei} Long Setup:  GDX  .35 break
01[12:10] {Threei}  If holds  .28 
01[12:11] {Threei}  target 1:4
01[12:12] {Threei}  Invalidated  
01[12:12] {Threei}  for now
[12:13] {backman} fcx....trading on dl.short from .06
[12:13] {backman} .16
01[12:14] {Threei}  dl as in double lot?
[12:14] {backman} daily low
01[12:14] {Threei}  oh :)
[12:22] {backman} stopped BE
01[12:23] {Threei} Long Setup:  GDX  .30 break
01[12:23] {Threei}  If holds  .20 
01[12:23] {Threei}  perfect pullback for a double bottom and real recovery
01[12:24] {Threei}  why b/e bman? I'd think .21 was a good stop at the time
[12:25] {backman} twitchy fingers...was trading it as surrogate for GDX
01[12:26] {Threei}  ok GDX
01[12:26] {Threei}  it's time
[12:26] {Les} GG made higher low
01[12:26] {Threei}  1:4 please
01[12:28] {Threei}  1:1
01[12:30] {Threei}  .50 is a challenge, but should be taken, and clear skies after that
[12:31] {Les} bb's in 3 min suggest it may bounce along here with 50 as the top
01[12:31] {Threei}  huh?
[12:31] {dino} .
01[12:31] {Threei}  bbs do no sich thing
[12:32] {dino} pgti rinsed, thats 2 for today
01[12:32] {Threei}  you re back to reading wrong thing in a wrong way Les... no indicators for you for another week
[12:33] {Les} hehehe
01[12:33] {Threei}  http://www.realitytrader.com/vad/soupnazi.png
[12:34] {dino} no soup for you les
01[12:34] {Threei}  :)
[12:34] {cc_9} SLV, pls crack 23.15. pls
01[12:34] {Threei}  1:2
01[12:35] {Threei}  come on GDX, break hat wall
01[12:35] {Threei}  good girl
01[12:36] {Threei}  boy?
[12:37] {thomcbell} long setup kors 56 break if holding 55.90 
01[12:38] {Threei}  last 1/4 stopped on a trail
01[12:39] {Threei}  interesting day, all about trade management: winners and losers ar 5/50, but losers are 5-10 cents, winners are 1:}2and 1:3
01[12:39] {Threei}  overall positive
[12:40] {thomcbell} yup
[12:40] {Les} http://www.youtube.com/watch?v=CLPs2rgmkqE
[12:40] {patel} What is 5/50?
[12:40] {nemo} yeah, but Les is a real deadweight on your averages Vad
[12:41] {backman} oatel, it's kinda like he spells ur name   50/50 :=)
[12:41] {Les} ca c'est n'importer quoi
[12:42] {patel} oh okay. thanks
[12:42] {Les} “We are in the business of making mistakes. The only difference between the winners and the losers is that the winners make small mistakes, while the losers make big mistakes.” 
01[12:42] {Threei}  lol
[12:42] {Les} -Ned Davis
[12:42] {Les} like it
01[12:42] {Threei}  backman learned threeiish well
[12:43] {dino} a good trader knows how to take a profit, a great trader knows how to take a loss 
01[12:43] {Threei}  I almost agree with that sentence
01[12:43] {Threei}  just one correction
[12:43] {stevw} i'm awesome then!
[12:44] {nemo} oh jeez...
01[12:44] {Threei}  winners admit their mistakes and take care of them while they are small
01[12:44] {Threei}  losers get stubborn and let mistakes grow
[12:44] {Les} yeh
01[12:44] {Threei}  A Taoist Trader
[12:44] {Les} damn Vad, Megashot posting some awesome photos
[12:44] {dino} or the classic, profits are luck, losses are skill
01[12:44] {Threei}  take care of a small before it gets big
[12:45] {thomcbell} kors invalid 
[12:45] {backman} thombc....was that Kors trade a 2 way perchance
[12:45] {thomcbell} never triggered 
[12:45] {thomcbell} i dont think so 
[12:45] {backman} ty
[12:46] {thomcbell} it looks like the setup was not great for the long either 
[12:46] {backman} ah...come on...great setup...just didnt trigger
[12:47] {thomcbell} i generally like looking for a vad setup on a strong stock that retraces to previous days pivot - 
[12:48] {thomcbell} thats what my thesis was there on kors
[12:51] {dino} pgti wants vwap
[12:51] {dino} s .40
[12:51] {Les} we can see how LVS has shock and awed the longs chasing into close yesterday
[12:52] {Les} awesome feeling detaching emotions from trading decisions
01[12:53] {Threei}  liberating, isn't it
[12:53] {Les} I think Nemo's taken it one step further and detaches emotions while hiding bodies, but that's seomthing else
01[12:53] {Threei}  that's still not the ultimate perfection Les
01[12:53] {Threei}  here is the next step:
01[12:53] {Threei}  hide bodies in spectacular places and take awesome photos when done
[12:54] {dino} why do you think the flowers grow so well?
[12:54] {Les} :)
01[12:54] {Threei}  lol
[12:54] {thomcbell} vad that was a good DB on qcom a few minutes ago with bounce from 61.59 with retraceand 61.64 trigger right - i have been doing study on that setup 
[12:55] {nemo} I just bring them to my buddy's incinerator
01[12:55] {Threei}  looks very right to me
01[12:55] {Threei}  see Les? nemo has no appreciation for a good landscape
[12:56] {backman} i'd think all the BS in here would keep flowers growing beautifully
[12:56] {nemo} yes I do, experience shows though as the body decays, it leaves a tell-tale hollow
[12:56] {nemo} So....
[12:56] {nemo} you either have to chop it up first
[12:56] {nemo} or, incinerate
[12:56] {nemo} you frickin' amateurs
[12:56] {nemo} GMCR
[12:57] {nemo} only problem, support at .50
01[12:58] {Threei}  can you think of a better place to dunp body and take photo than this: http://goo.gl/spRtP
[12:58] {nemo} nice
01[12:58] {Threei}  take your pick: http://photography.realitytrader.com/2013/03/twilight-sunsets-and-other-dark-matters.html
01[12:59] {Threei}  wow QCOM
01[12:59] {Threei}  fantastic catch tbell
[13:01] {thomcbell} exactly the kinds of plays we should be looking for today 
[13:01] {backman} any though on GDX breaking .40?
01[13:02] {Threei}  looking at it for the last 5 min bman, and thinking to myself,
01[13:03] {Threei}  it's much weaker than it should have been, cvonsidering the drop
01[13:03] {Threei}  kind of undermines my idea of having a good run after final bottom
[13:03] {backman} how do u mean weaker?
01[13:03] {Threei}  final bottom was in place, yet it stalled amd revisited the trigger
01[13:04] {Threei}  instead of running with nothing more than small pullbacks
01[13:04] {Threei}  makes me very hesitant about long on it
01[13:04] {Threei}  see, when the final bootom is in, it means real reversal, no more sllers, buyers get bold
[13:05] {backman} ...i c ....hasnt' made a 1:1 run before coming back to BE
01[13:05] {Threei}  stock runs fast, furiously trappping those shorts that missed their exit
01[13:05] {Threei}  this one doesn't bubble happily
01[13:05] {Threei}  it bobs up and down
01[13:06] {Threei}  makes me even think, maybe new lows in cards
[13:06] {Will49} very helpful narrative Vad...tks
[13:06] {backman} ahh........i shall watch w u
01[13:06] {Threei}  sure... soetimes it's hard to put these things in words
[13:07] {Will49} good job
01[13:07] {Threei}  especially when typing with fins
[13:07] {Will49} :)
[13:07] {Les} http://tinyurl.com/c3f3ffg
[13:08] {Les} how I view such a scene. JMO
[13:08] {Les} as that MACD rolls over I'll look to trading screen for new setup
01[13:08] {Threei}  sheesh... MACD
01[13:08] {Threei}  Lesa, you are incorrigible
[13:08] {Will49} hahaha lesa!
01[13:08] {Threei}  I give up
01[13:09] {Threei}  back to "putting things in words..." as my McGraw Hill editor put it many years ago,
[13:09] {Will49} freudian slip Vad
[13:09] {Will49} lesa
[13:09] {Les} actually, your ability to see same thing and rationalise it without looking elsewhere is what I would like to be able to do
[13:10] {nemo} thus marriage
[13:10] {Les} keep quiet you
01[13:10] {Threei}  "I can't edit your writing. It's rough, and English isn't smooth and isn't flowing easy, but as soon as I make it rolling off the toingue easier, it loses this raw power your writing has"
[13:10] {nemo} truth is a jagged blade that rips and tears soft flesh
01[13:10] {Threei}  why aren't you looking at what I am looking then, Les?
[13:11] {Les} I am
01[13:11] {Threei}  why are you mixing in this MACD bs again?
[13:11] {nemo} who are you talking too Vad?
[13:11] {Les} that's a side screen
01[13:11] {Threei}  side or not, you are looking at it an dusing it as reasoning
01[13:11] {Threei}  13:08] {Les} as that MACD rolls over I'll look to trading screen for new setup
01[13:12] {Threei}  now, look at my rasoning
01[13:12] {Threei}  reasoning
01[13:12] {Threei}  can you see that what I am using is the very basic matket language?
[13:12] {Les} yes I see the difference
01[13:12] {Threei}  in terms of lows, highs, volume, pace
[13:12] {Les} I presumed .50 as resistance, while you let market decide it
01[13:13] {Threei}  and that helps me gauge the mood, the determination, the balance of supply and demand
[13:13] {Les} and market having decided resistane, you are no longer sure of long setup
01[13:13] {Threei}  what does MACD hekp you gauge?
[13:13] {Les} potential trend and trend change
01[13:13] {Threei}  it's too formal, too removed
01[13:13] {Threei}  yeah? good luck with that
01[13:14] {Threei}  the difference between what I teach vs what most do:
[13:14] {nemo} we're gonna have a doji today
01[13:14] {Threei}  they would tell you "you are not ready yet to trade without XXX indicator"
01[13:15] {Threei}  I will tell you "you are not ready yet to trade WITH it"
[13:15] {nemo} what about the chicken?
[13:15] {Les} yeh I've seen that this week. I have been trading off of price and volume
01[13:15] {Threei}  chicken entrails you mean?
[13:15] {nemo} yeah
[13:15] {nemo} cree
[13:15] {dino} coin tosses, magic 8 ball
01[13:15] {Threei}  that'ds a very good one, just below the tea leaves
01[13:16] {Threei}  and right above the dartboard
[13:16] {Les} well give me some credit
01[13:16] {Threei}  I did
[13:16] {nemo} right
[13:16] {Les} I have progressed beyond dartboard
[13:16] {nemo} right into the litter box
[13:16] {Les} ty nemo
01[13:16] {Threei}  you just slip back into bad habits too fast and easily
[13:16] {nemo} watch cree .60-.70 for short
01[13:17] {Threei}  at one point in previous life I was lucky to be coached in table tennis by the champion of Moscow
[13:17] {dino} wyn sm l .99
01[13:18] {Threei}  he dropped a sentence once which I still remember
01[13:18] {Threei}  the move you learned last is the one you forget first
[13:19] {nemo} market should come in a little here
01[13:19] {Threei}  this skill that you learned this week is too fresh
01[13:19] {Threei}  dpn't jeopardize it by dropping it too fast
01[13:19] {Threei}  it's not ingrained deeply yet
01[13:19] {Threei}  see his and my point?
[13:20] {nemo} which explains why he's still married
[13:20] {Les} I'll admit error in my trading today, being too reliant on charts and in the spirit of Ritholtz
[13:20] {nemo} CREE
01[13:20] {Threei}  ok... let's start targeting short in GDX
01[13:21] {Threei} Short Setup: GDX  .20 break
01[13:21] {Threei}  If holds  .30 
[13:30] {dino} tsla drop
[13:33] {Les} CAT closing in on 85 resistance
[13:36] {Will49} Vad, just stepped away for a few minutes
[13:36] {Will49} how long ago was the GDX alert?
01[13:36] {Threei}  15 min
01[13:36] {Threei}  never triggered
[13:36] {Will49} tks
01[13:36] {Threei}  invalidated but tries to reestabligh itself
01[13:36] {Threei}  so, still on watch
01[13:43] {Threei}  not anymore :)
01[13:44] {Threei}  gold spike propped GDX
[13:44] {cc_9} SLV finally =)
01[13:52] {Threei}  quite a few strange moves today
01[13:52] {Threei}  looking like they are news-caused, but there is none
[13:52] {Will49} manipulation
01[13:53] {Threei}  ahhh!
01[13:53] {Threei}  that's what it is
[13:53] {Will49} who knows! 
01[13:54] {Threei}  you heard that ben is not going to attend Jackson Hole this evening, first Fed chairman in 50 years to do so
01[13:54] {Threei}  the reason is, he will be too busy manipulating gold
[13:54] {Will49} heard that
[13:54] {Will49} that he's not going
[13:54] {jdetente} Reptilian King not attending Reptilian ceremony...hmmmm lol
01[13:55] {Threei}  lol
01[13:55] {Threei}  my alternative guess is, he can'tstop priniting money even for a minute
01[13:55] {Threei}  deflation may sneak up on him
[13:56] {cc_9} i seriously hope nobody here is listening to alex jones while trading
[13:56] {cc_9} i just scanned and saw the word reptilian
01[13:56] {Threei}  who?
[13:56] {dino} i'm listening to  music
[13:56] {cc_9} good
[13:57] {cc_9} one should only allow for 1 hour max a day of tinfoiling
[13:57] {Will49} is alex jones a guitar player?
[13:57] {nemo} oh, are they talking about the evolutionary level of Les' brain?
[13:57] {cc_9} lol
01[13:58] {Threei}  this is very weird headline:
01[13:58] {Threei}  Explosion in Karachi at political meeting kills at least 4 and injures 20; Taliban claim responsibility
01[13:59] {Threei}  there are political meetings ikn there with anyone but Taliban?
[14:03] {cc_9} http://www.youtube.com/watch?v=OZaYRp3nxIU
[14:06] {Les} a little volume moving in to SLW
01[14:06] {Threei} Long Setup:  CAT  85 break
01[14:08] {Threei}  not a scalp, has very nice potential
01[14:11] {Threei}  Invalidated  
[14:12] {nemo} that would be entring another gap
01[14:14] {Threei} Short Setup: GDX  .70 break
01[14:14] {Threei}  If holds  .80 
01[14:19] {Threei}  1:1
[14:20] {nemo} http://bit.ly/ZAph5Y
[14:22] {Les} hydrogen powered? good ad
[14:22] {nemo} hope you have a diesel
[14:22] {Les} sigh
[14:24] {dino} cov sm l .60
[14:27] {nemo} wow, cree keeps on going
01[14:28] {Threei} Long Setup:  CAT  .90 break hl
01[14:29] {Threei}  Attention:  CAT  unusally structured play
01[14:29] {Threei}  half lot at .90
01[14:29] {Threei}  with idea tio get stopped under .80 on half lot OR add another half at 85 break
01[14:29] {Threei}  at which point whole lot will get stop trailed to under .90
[14:32] {backman} so for entry at .90...stop is .80?
01[14:32] {Threei}  yes
01[14:34] {Threei}  Invalidated  
[14:37] {dino} hmsy sm s .98
[14:41] {dino} cov hmsy .68, +.30
[14:41] {dino} out cov .90, +.30
[14:42] {Will49} hummin' right along dino
[14:42] {thomcbell} any george jones fans in the room - he passed in the last day 
[14:42] {dino} lucky will
[14:42] {Will49} yes, saw him live  acouple of times
[14:42] {thomcbell} he is very solid 
[14:42] {thomcbell} was
[14:43] {dino} wyn to b/e stuck
[14:45] {dino} out wyn .08, +.09
[14:46] {Les} slw .50 break holdgin .60?
[14:46] {dino} stop pgti .42, -.02
[14:46] {Les} cat valid again?
[14:46] {Les} inveerted h&s
01[14:46] {Threei}  yes, valid again
01[14:46] {Threei}  same idea
[14:47] {Les} gdx and slw at .50
01[14:53] {Threei}  ok... game's half on
[14:56] {Les} failed inverted h&s SPY, or another smaller inverted H&S developing in the right shoulder
[15:02] {thomcbell} jcp got additional news out there now - loan commitment from gs 
[15:02] {thomcbell} and it exploded 
[15:03] {dino} they'll bundle that into a aaa mbs and sell it, lol
01[15:03] {Threei}  missed it watching CAT
[15:08] {thomcbell} long setup trow - 71.65 break if holding 71.55
01[15:14] {Threei}  game's fully on now
01[15:14] {Threei}  stop .88
[15:19] {Les} GDX .45 short holding .55?
01[15:20] {Threei}  rather if holding .50
[15:20] {thomcbell} trow invalidated
[15:22] {Les} C double top at .95?
[15:23] {Les} or short at .85 if holding .95?
01[15:23] {Threei}  if loses .85, yes... otherwise, breakout
[15:23] {Les} k
[15:23] {Les} 2 way?
01[15:23] {Threei}  yup
[15:26] {dino} calling it a week, thx for ideas. decent week
[15:27] {Les} bon weekend
01[15:27] {Threei}  have a good weekend dino
[15:27] {dino} will do, u2
[15:29] {Les} dunno if GS just topped out 2nd time at .50 here
[15:31] {Les} now looks like DT in GS
[15:32] {Les} long C
[15:39] {Les} tighten stop to .90
[15:41] {jdetente} you mean .89
[15:42] {Les} GS droping
[15:45] {nemo} very low volumes across the indexes
01[15:45] {Threei}  oh well
01[15:45] {Threei}  that was a good idea that didn't pan out
[15:46] {Les} u been reading monty python?
01[15:46] {Threei}  why, I have Fed minutes
[15:46] {Les} lol
[15:47] {nemo} reading Monty Python?
[15:47] {nemo} wtf
[15:48] {Les} cutting c -.05
[15:48] {Les} GS says no
[15:49] {Les} "that was a good idea that didn't pan out"...
[15:49] {Les} sounded straight out of a monty python sketch, british stiff upper lip and all
[15:49] {Les} calling it a week
[15:50] {Les} c u's monday
[15:50] {backman} enjoy
[15:50] {Will49} yeah...me too
[15:51] {Will49} TTFN guys
01[15:51] {Threei}  thank you all
01[15:51] {Threei}  have a great weekend
01[15:51] {Threei}  see you Monday
[15:57] {thomcbell} take care guys