Friday, February 7, 2014

Feb 07 2014

Not very active but profitable day, with one stop and one scratch, the rest of trades being profitable. Opening short on FB for 1:3 set the tone, a few scalps on JPM and GLD helped.

Session Time: Fri Feb 07 00:00:00 2014
[08:29] {nemo} Here it comes......
[08:29] {nemo} boom
[08:29] {nemo} or should I say Timberrrrrrrrrrrrr.......
[08:30] {nemo} ANARCHY!!!!!!!!!!  TONIGHT WE DINE IN HELL!!!!!
[08:30] {nemo} a bit over the top?
[08:30] {nemo} sorry...
[08:30] {fish_49} yea
[08:30] {nemo} not really
[08:30] {nemo} frickin' meds need rebalancing
[08:31] {nemo} whoa
[08:31] {fish_49} mix with booz
[08:31] {nemo} always
[08:31] {fish_49} you know what happens when mixing alcohol with words  right?
[08:32] {fish_49} Tequila Mockingbird
[08:32] {nemo} I'll take the worm
[08:38] {fish_49} the numbers were not bad  the drop not justified
[08:38] {nemo} 113 vs 183 expected?
[08:38] {nemo} 175 expected
[08:39] {nemo} that's pretty bad, but they may be arguing it's because of the weather
[08:39] {dino} its always something
[08:39] {fish_49} dino you trade the ES or the Currency futures?
[08:39] {dino} no
[08:40] {dino} most i do are the etf on them
[08:41] {fish_49} Nemo  Previous 75K actual 113K  the 185K means they don't have a clue on what to expect...  The rate fell a fraction  I  really dont see that as terrible news ...
[08:52] {nemo} 178.29 weekly pivot
[08:57] {nemo} what, you looking at unemployment rate fish?
[08:57] {fish_49} prev  6.7  actual 6.6  a fraction lower is not bad news
[08:58] {nemo} I find that statistic to mean nothing because you're only considered unemployed if you are looking for work
[08:58] {nemo} if you aren't even bothering, you're not included
[08:59] {fish_49} NFP missed consensus  by  large amount  but still better than previous  and seeing improvement.  I'm no expert but  I find the numbers as not good and not bad
[09:00] {nemo} I actually just am interested in the market reaction
[09:01] {fish_49} Yea  I agree
[09:01] {fish_49} still holding up
[09:01] {nemo} Lies, Damn Lies, and Statistics
01[09:10] {@Threei}  market is utterly confused
[09:11] {fish_49} it's because of you canadians
[09:11] {fish_49} your emplyment numbers were better than ours  lol
[09:25] {munky} morn
01[09:26] {@Threei}  munky :)
[09:27] {RonS} hi guys
01[09:27] {@Threei}  ron :)
[09:27] {munky} ron:)
01[09:30] {@Threei} Short Setup: C  .10 break
01[09:30] {@Threei}  If holds  .20
[09:33] {dino} aan
01[09:34] {@Threei} Long Setup:  FB  .50 break
01[09:34] {@Threei}  If holds  .40
01[09:35] {@Threei}  1:1
01[09:37] {@Threei}  1:2
01[09:37] {@Threei}  1:3
01[09:38] {@Threei}  1:4
01[09:38] {@Threei}  out
[09:39] {fish_49} Vad,  You trade 1/2.. 1/4  then 1/4?
[09:40] {fish_49} do you just save the last 1/4  for 1:4  sometimes?
01[09:40] {@Threei} Long Setup:  JPM  .70 break
01[09:40] {@Threei}  If holds  .60
[09:40] {dino} g sm l .39
01[09:41] {@Threei}  for the most part, 3 parts for 1:3. Holding for 1:4 or partialing in 4 parts when I feel strongly about larger move
01[09:41] {@Threei}  1:1
[09:43] {dino} out g .83, +.44
01[09:44] {@Threei} Long Setup:  GLD  .40 break
01[09:44] {@Threei}  If holds  .30
01[09:46] {@Threei}  stop to .34
01[09:46] {@Threei}  1 cent shy of 1:1
[09:48] {dino} aan sm s .49
[09:48] {RonS} took g 14.61 out 15.45 +.84  thanks dino
01[09:49] {@Threei}  wtg
01[09:50] {@Threei}  1:1
[09:51] {dino} wtg ron
[09:52] {dino} ann stop .76 -.27
[09:54] {RonS} mdso blood
[09:56] {dino} missed yesterday
[09:57] {RonS} tpx losing spring
01[09:57] {@Threei} Long Setup:  JPM  .45 break
01[09:57] {@Threei}  If holds  .40
[09:57] {nemo} oh crissakes
[09:58] {dino} aan rinsed
01[09:59] {@Threei}  Invalidated
[09:59] {RonS} dino, whadya expect with an aaron going by aan...tranny trade...
[10:00] {RonS} :)
01[10:00] {@Threei}  *(UK) JAN NIESR GDP ESTIMATE: 0.8% V 0.7% PRIOR
[10:03] {dino} lol
01[10:06] {@Threei} Long Setup:  JPM  .40 break
01[10:07] {@Threei}  If holds  .34
[10:07] {dino} aan sm s .50, bit wider
[10:08] {dino} wyn, 68.20 trig sm l
[10:08] {dino} cx that wyn
01[10:10] {@Threei}  GLD rinsed second half
01[10:10] {@Threei}  half-somg
[10:11] {dino} wyn sm l .45
01[10:14] {@Threei}  Invalidated
[10:17] {dino} aan to .01
[10:20] {dino} aan bstop to .79
[10:21] {dino} cov aan .79,
[10:21] {dino} +.71
[10:21] {RonS} gj
[10:21] {fish_49} awesome
[10:21] {dino} ty
[10:25] {dino} wyn re-load .00
[10:25] {dino} sm
[10:27] {dino} stupid mistake, had .50 on wyn ugh
[10:27] {dino} dropping fast
[10:28] {RonS} thing is pulpy...only 2 blocks traded...going to 68.50 some time today
[10:31] {dino} wyn ron?
[10:32] {RonS} yes
[10:32] {dino} fldm?
[10:33] {dino} i was thinking vwap wyn
01[10:34] {@Threei}  (US) Goldman Sachs Chief Economist Hatzius: Economy is slowing a bit - CNBC
01[10:34] {@Threei}  yeah, it was blazingly fast up to this point
[10:34] {fish_49} lol
[10:34] {RonS} what is vwap wyn?
01[10:35] {@Threei}  (US) Fed Watcher Hilsenrath (WSJ): Fed Chair Yellen will most likely maintain the existing monetary policy course in light of recent payrolls and unemployment data
[10:35] {fish_49} 68.11  ron
01[10:35] {@Threei}  is this a new profession, Fed Watcher?
[10:35] {dino} 68.17
01[10:35] {@Threei}  I understand what vampire slayer watcher does... fed watcher?
01[10:35] {@Threei}  do they hire?
[10:35] {fish_49} Vwap can be different between platforms?
01[10:36] {@Threei}  I can watch fed for a decent salary
[10:36] {fish_49} Take pics of the fed  Vad
[10:36] {dino} free stock charts has 68.20, das 68.15
01[10:37] {@Threei}  FSC has incomplete data
[10:37] {fish_49} Trade Station has .09
[10:37] {nemo} FSC only uses market hours data, DAS uses pre post also
01[10:37] {@Threei}  not that those cents matter a lot
01[10:37] {@Threei}  it's a zone that matters
[10:38] {fish_49} agree
[10:38] {fish_49} order flow when it left that zone
01[10:38] {@Threei}  that's the theory anyway
01[10:39] {@Threei} Long Setup:  JPM  .40 break
01[10:39] {@Threei}  If holds  .30
01[10:42] {@Threei}  change to aggressive
01[10:43] {@Threei}  in here .31
01[10:43] {@Threei}  stop .24
[10:51] {RonS} bingo wyn 68.45 +.95
[10:52] {dino} out wyn 68.30, +1.30
[10:52] {RonS} wtg
[10:52] {dino} ty
01[10:52] {@Threei}  nice
[10:52] {RonS} wyn traders don't pay attention to stinkin vwap...
[10:53] {dino} lol
[10:54] {RonS} now the chaikin channel however very important :)
[10:54] {fish_49} especially if it's different among charting packages.
[10:54] {RonS} and the fibs omg the fibs...
[10:54] {nemo} knew you were a liar
[10:54] {fish_49} fibs are liars?
[10:55] {dino} k.i.s.s. theory here. you guys are losing me
01[10:55] {@Threei}  1:1
01[10:55] {@Threei}  I gave up long ago dino
01[10:55] {@Threei}  tree good, fire bad.... what else do you need
[10:55] {dino} w/ya
[10:56] {nemo} starts with "b"  ends with "b"
01[10:56] {@Threei}  yes but that you get with no stinkin wvap
01[10:57] {@Threei}  and ron... chaikin channel got nothing over ichimoku cloud
[10:57] {dino} wyn trail was too tight
[10:57] {fish_49} at lunch who would be as so kind to explain the WYN set up?
[10:57] {nemo} there's no xplainin' Dino
[10:57] {dino} high vol fast drop, reverse
01[10:57] {@Threei}  dino's inexplicable fish
[10:57] {fish_49} ahhh catching a bottom?
[10:57] {nemo} that's a hammer at the bottom on the 1 minute
01[10:57] {@Threei}  and famous for that
[10:59] {dino} hers what i saw fish (nemo the technician, not i). high volume drop/capitulation, then starts higher lows/highs on way back, .00natural trigger (multiples of .25 typically), once thatreached target vwap, unless scalping
[11:00] {nemo} too funny...wyn got to 69...then turned around
[11:00] {dino} but thats just me. lots of ways to trade
[11:00] {RonS} fish wyn was a low volume selloff on a modest earnings disappointment...1. has happened before 2. no institutional selling to speak of 3. dino loves looking for a tail...
[11:00] {dino} enjoy tail
[11:01] {RonS} lol
[11:01] {fish_49} lol
[11:01] {nemo} best javelin catcher I've seen
01[11:01] {@Threei}  who doesn't
[11:01] {fish_49} I hope  not fish tail
[11:01] {RonS} lol
[11:01] {nemo} you make good chum
01[11:01] {@Threei}  or lox
[11:01] {fish_49} onestly  thanks for the explanation
[11:01] {fish_49} H8
[11:02] {fish_49} Honestly thanks for the explanation
[11:02] {fish_49} fat fingers today
[11:02] {nemo} understandable given your picture
01[11:02] {@Threei}  I wish I could use that "today" qualifier
[11:02] {fish_49} safety off  Nemo
06[11:03] * nemo loads magazine..charges
[11:04] {dino} fish, i don't use lots of indicators, pretty much tails (fast falls/or spikes), s1,s2,s3, vwap, r1,r2,r3, volume spikes, and 1,5,30,90 day charts
[11:04] {RonS} some ceo in denver committed suicide w/ a nail gun...must have been realy pissed at himself since started on his torso...then head...ouch
[11:05] {dino} nemo educated me about vwap and s3 breakdowns
[11:05] {dino} they have pretty good success ratio of working
[11:05] {nemo} gives the price action geographic markers
01[11:05] {@Threei}  I say mazo session gone wrong, ron
[11:06] {dino} ci going for gap 74.50-75.50?
[11:07] {fish_49} so correct me if I'm wrong,  In general  if we lose S3 , get short and stay short
[11:07] {dino} fldm gap around 40
[11:07] {dino} not i fish, s3 usually magnet up target
[11:07] {dino} after fast drop
[11:07] {dino} 67% reversal
[11:11] {nemo} when a stock goes above or below R3, it only makes it to R4 10% of the time, which means you're usually going to get a reversal
01[11:11] {@Threei} Short Setup: GLD  .80 break
01[11:11] {@Threei}  If holds  .90
[11:13] {RonS} fish if interested in this stuff, read John Person's "Candlestick and Pivot Point Trading Triggers"
[11:13] {nemo} yeah, I have a .pdf of it if you want
01[11:13] {@Threei}  met the guy couple years ago
01[11:13] {@Threei}  we gave seminar in LV together
[11:13] {nemo} yeah, questionable character...he liked Vad
01[11:14] {@Threei}  one of few who know what they are doing
[11:15] {RonS} fish here is a free calculator:
01[11:15] {@Threei}  1:1
[11:16] {nemo} I can share my multi-timeframe spreadsheet also if you guys want
[11:16] {nemo} you'll need google drive though
[11:21] {fish_49} thanks Ron  I have Pivot points on my charts  from Trade Station
[11:28] {RonS} wyn had another buck in it :(
[11:34] {dino} and then some
[11:34] {RonS} omg wyn...$2
[11:35] {fish_49} Gap Fill
[11:35] {fish_49} lol
[11:35] {RonS} told you it was pulp...
[11:35] {dino} knew that going in
[11:36] {dino} value-added research today, feye, wedbush raises target from 42 to 60. stock opened at 66
[11:36] {RonS} ya, we've traded earnings on it before...
06[11:42] * @Threei trips GLD and pushes it off the cliff
01[11:48] {@Threei}  - Germany's constitutional court did not take away ECB President Draghi's biggest policy bazooka in its decision this morning, however it did say there were substantial reason to believe that OMT sovereign bond program exceeds the ECB mandate.
01[11:48] {@Threei}  The court passed the final decision on the OMT to the EU's highest court and said it would rule separately on the ESM in March.
01[11:48] {@Threei}  whimps
[11:51] {RonS} mont the full monty
[12:04] {dino} fraud allegations
[12:04] {fish_49} Who  Nemo?  we all knew he was a fraud
01[12:05] {@Threei}  come one fish, it's just unproven allegations
01[12:09] {@Threei}  uh oh
01[12:09] {@Threei}  (GR) Greece Fin Min Stournaras: There is no need for a third aid package for Greece - interview
01[12:09] {@Threei}  I know what I am betting on
01[12:09] {@Threei}  now that it's officially denied
01[12:10] {@Threei}  Reportedly flight from Ukraine was hijacked and made an emergency landing in Istanbul- According to Turkish state media, a Pegasus Airlines flight is being held in safe zone at Istanbul airport after it sent hijacking signal. - Follow up: a negotiating team is still talking to the hijacker in the plane.
[12:17] {fish_49} Vad did you grow up in Ukraine?
[12:17] {nemo} he never grew up
01[12:17] {@Threei}  I never grew up, but it did happen in Ukraine, yes
[12:18] {nemo} Vad would make a great ventriloquism dummy
01[12:18] {@Threei}  considering that I left it at the tender age of 35, you may call it a protracted period of never growing up
01[12:18] {@Threei}  out of who, nemo?
[12:18] {nemo} whom
[12:19] {nemo} preposition takes the dative object case
[12:19] {fish_49} Ohhh Myyyy
01[12:19] {@Threei}  one of the cities featured in recent photos and videos of riots was Dnepropetrovsk
01[12:20] {@Threei}  lived there for 5 years while in univercity
01[12:20] {@Threei}  that's 40 km from my native town
[12:20] {nemo} what's that translate as, city on the Dneiper?
01[12:21] {@Threei}  incredible sight, to see these riots and fights with police in places I know as a back of my hand
01[12:22] {@Threei}  Dnieor as a rivcer name, and Piotr as in tzar's name
01[12:22] {@Threei}  Dniepr
[12:22] {nemo} yeah, Dneiper in English or German
01[12:22] {@Threei}  kind of: Piort's city on the Dniepr
01[12:23] {@Threei}  good girl GLD
[12:23] {fish_49} Dnipropertrovs'k
[12:23] {fish_49} I would have now idea how to say that word
01[12:24] {@Threei}  well, my own town is even worse
[12:24] {fish_49} no*
01[12:24] {@Threei}  I used to answer question about the reason for my immigration: because I got tired of breaking my tongue of my city's name
01[12:25] {@Threei}  there was a famous murderer among reviloutioners, Dzerzhinsky
[12:25] {nemo} hehehehe
[12:26] {nemo} they name a Square after him?
01[12:26] {@Threei}  name of the city is modeled after the one above, only with this name...
01[12:26] {@Threei}  Dnieprodzerzhinsk
01[12:26] {@Threei}  go ahead, try that :)
[12:26] {fish_49} is your city Vad?
01[12:26] {@Threei}  yup
[12:26] {munky} fish, dcc
01[12:26] {@Threei}  Brezhnev's too
[12:37] {fish_49} munky  I found a solution for Pivot Points on DAS
01[12:39] {@Threei}  they are among studies available? :)
[12:40] {fish_49} yes but  not as overlay on the chart...  must put them in a grid below chart  like below Volume
[12:40] {fish_49} let it calculate  then add the horizontal line to your chart each day manually
[12:41] {fish_49} so really there is no difference in just getting the numbers from NemoToad  every day or some other site
[12:41] {fish_49} but at least you could have the numbers for each stock you trade
[12:50] {dino} panw s .80
[12:52] {dino} cov .60, +.20 panw
[12:52] {nemo} spy looks like it's going for the 179 stops
[12:52] {dino} too soon
[12:52] {fish_49} that was fast Dino  when you said .80  I typed panw and it was gone
[12:54] {dino} gappy sucker
[13:02] {dino} wow, dropped a buck
[13:08] {dino} gmcr wow. einhorn getting crushed on his shorts lately
[13:08] {nemo} after the KO news he better have gotten out
01[13:08] {@Threei}  he is trying to catch up with ackman
[13:13] {fish_49} I was just gonna say  Look at Cat for a short
[13:22] {dino} yy spike
[13:22] {RonS} yy not?
01[13:23] {@Threei}  no news, don't know yy
01[13:23] {@Threei}  ah, here is yy
01[13:23] {@Threei}  YY Hearing Deutsche Bank upgrades to Buy
01[13:54] {@Threei} Short Setup: SPY  .20 break
01[13:54] {@Threei}  If holds  .30
01[13:56] {@Threei}  no go
[14:06] {dino} vxx l .90
[14:15] {dino} to .00
[14:15] {nemo} thing .28 at a minimum
[14:16] {dino} out .02, +.12 vxx
[14:16] {RonS} gj
[14:17] {dino} ty
01[14:25] {@Threei} Long Setup:  MCD  .85 break
[14:25] {dino} adhd spike
01[14:25] {@Threei}  If holds  .78
01[14:31] {@Threei}  ok MCD
01[14:31] {@Threei}  get yourself a burger and let's go
[14:32] {dino} damn thought adhd had one more spike up in it
01[14:32] {@Threei}  well dino, it did... but being ADHD, it forgot
[14:33] {RonS} lol
[14:33] {fish_49} Vad has Jokes On Friday's  huh?
01[14:33] {@Threei}  Ron... you are getting more and more competition
[14:33] {RonS} ya, that was corny enough to be one of mine...
01[14:33] {@Threei}  thank you sir
01[14:34] {@Threei}  coming from you, appreciated very much
[14:34] {RonS} lol
[14:35] {RonS} now when you get nemo to moan you will be all the way there...
[14:35] {RonS} ...for better or worse so to speak...
[14:35] {fish_49} Ohh  TMI
[14:35] {fish_49} Dont want to thin about Nemo Moaning
[14:35] {RonS} ...then we will definitely need will back for an audience...
[14:36] {dino} lol
[14:38] {fish_49} ok I got Pivots to display on Charts in DAS  but you need to update and run the latest version which is
[14:39] {fish_49} it's a quick update and I didnt notice any differences  after updating
[14:40] {dino} tza l .91
[14:42] {fish_49} can add Vwap to the chart also
[14:42] {fish_49} Next week I will write a manual with pictures
[14:43] {fish_49} gota run  See you guys late next week
[14:44] {RonS} have a good time swimming aand don't get eaten...
01[14:44] {@Threei}  take care fish
01[14:44] {@Threei}  we will trade your MCD for you if you wish
01[14:44] {@Threei}  did I just make a rhyme?
[14:44] {fish_49} damn  Vad on a roll today  Fish Wish
01[14:44] {@Threei}  friday...
[14:45] {fish_49} I like Wisha Fish  I was member of that foundation  to take out sick kids  fishing on the bay
[14:45] {fish_49} I should change name to WishaFish
[14:46] {dino} tza stop .04 -.07
[14:47] {dino} remember that mcd song, fishy, fishy, fishy
[14:49] {dino} viix l .81
[14:50] {dino} out viix .98, +.17
[14:58] {RonS} wow 42 outside that seems like 70 after three days not over 17...
[14:58] {dino} still in teens here
[14:58] {nemo} oh, for a second there I thought you were talking about Les's IQ
01[14:58] {@Threei}  and we got some snow
[14:59] {dino} lol, we just got 15" on wed
[15:02] {dino} hod
01[15:06] {@Threei}  maybe let's cut MCD
01[15:07] {@Threei}  doesn't look like it has will to move
01[15:08] {@Threei}  putting .84 stop
01[15:08] {@Threei}  eithr it moves from here or I am out
[15:08] {nemo} if VXX doesn't run, nobody is afraid to go long into the weekend
01[15:08] {@Threei}  feels this way do far
01[15:08] {@Threei}  may change but...
[15:08] {nemo} bull market
[15:09] {dino} nemo, can vxx go up w/o the markets dropping?
[15:09] {nemo} it's based on options yes?
[15:09] {nemo} so, it's insurance buying or selling
[15:09] {nemo} it doesn't have to be completely correlated
[15:10] {dino} ok, typically inverse
[15:10] {nemo} yes but this is going into the weekend, if you want to hedge your long, you're buying puts, yes?
[15:10] {nemo} not necessarily selling your long positions
[15:11] {nemo} make sense?
[15:11] {dino} sure
[15:12] {nemo} so, though it is correlated much of the times, closer to the close or end of the week, you tend to see some drop in correlations
[15:12] {dino} g l .02
[15:14] {dino} ty
[15:15] {nemo} this vxx level is the weekly S1 and the S2
[15:15] {nemo} it's low was a test of the 50 day
01[15:16] {@Threei}  heh... MCD got scared by my threat to cut it off early
[15:16] {nemo} meanie
[15:25] {dino} out g .04, +.02
[15:25] {dino} shit, too tight
01[15:27] {@Threei}  out
[15:30] {dino} you're right nemo, markets held vxx up
[15:30] {nemo} not as dumb as I look
[15:30] {nemo} then again...nobody could be THAT dumb...
[15:30] {dino} re-loaded g at .10
[15:31] {nemo} vxx looks like it might come in a bit here though
[15:38] {dino} out g .13, +.03, tricky one
01[15:38] {@Threei}  OK guys, no more trades
01[15:38] {@Threei}  decent day to finish the week
01[15:39] {@Threei}  thank you, have a great weekend
01[15:39] {@Threei}  see you Monday
[15:39] {dino} thinking the same, thx all
[15:40] {dino} skx spike