Thursday, February 13, 2014

Feb 13 2014

Catch of the Day - sniper's work on GDX bottom-fishing

Session Time: Thu Feb 13 00:00:00 2014
[09:03] {thomcbell} gm
01[09:03] {Threei}  thom :)
[09:11] {RonS} gm...nutz achey all over...must have some sort of flu
01[09:11] {Threei}  Ron :)
[09:13] {_darekj} Good morning
01[09:13] {Threei}  darek :)
01[09:17] {Threei}  C broke down a bit too early... was eyeing .35 break for short
01[09:24] {Threei}  Government offices in Washington are closed due to storm
01[09:24] {Threei}  cool... less money to burn
[09:25] {munky} morn
01[09:25] {Threei}  munky :)
[09:26] {munky} twc up 10
[09:26] {RonS} might be getting bought price is 10 less than offer...
01[09:27] {Threei}  TWC Confirms press speculation, to merge with Comcast in all-stock deal valued at $158.82/share ($159/share was speculated), total deal valued at $45.2B
[09:27] {RonS} thinking market thinks justice antitrust issues...
[09:27] {munky} uvxy up 3.50
[09:28] {dino} look chtr off twc news
[09:29] {RonS} chtr is a crappy operator, twc and cox the best...
[09:30] {nemo} comcast is pretty good
01[09:32] {Threei} Long Setup:  GDX  .75 break
01[09:32] {Threei}  If holds  .70
[09:32] {dino} disca sm l .90
01[09:36] {Threei}  1:1
[09:36] {munky} out .93 ty
01[09:36] {Threei}  1:2
[09:36] {munky} nice and easy
01[09:36] {Threei}  yw
01[09:36] {Threei}  why not leave 1/4 for 1:3?
01[09:37] {Threei}  1:3
[09:37] {munky} next time will
01[09:37] {Threei} Short Setup: C  .35 break
01[09:37] {Threei}  If holds  .40
01[09:39] {Threei}  valid
01[09:39] {Threei}  with .43 stop
01[09:39] {Threei}  sheesh GDX
[09:40] {nemo} yeah
[09:41] {thomcbell} sndk strong mu still red here
01[09:41] {Threei}  look where we entered GDX... if that's not a sniper's work
[09:41] {thomcbell} lvs big rally to pivot hee
01[09:44] {Threei}  no go
[09:45] {dino} ande sm l .15
01[09:46] {Threei} Short Setup: GDX  .15 break
01[09:46] {Threei}  If holds  .25
[09:47] {munky} watching fb
[09:50] {munky} sheesh fb
[09:50] {munky} we need to catch the short
01[09:52] {Threei} Short Setup: FB  65 break
01[09:52] {Threei}  If holds  .10
01[09:53] {Threei}  1:1
01[09:53] {Threei}  Invalidated  GDX
[09:58] {munky} fb aweful strong
[09:58] {munky} got dime sh tho
01[09:58] {Threei}  half is still here
01[10:02] {Threei}  ok... scalp only
01[10:02] {Threei}  *(US) DEC BUSINESS INVENTORIES: 0.5% V 0.4%E
[10:07] {munky} whats relationship of gdx to bspy?
[10:07] {munky} spy?
[10:08] {nemo} correlations vary
01[10:08] {Threei}  it varies
[10:08] {munky} varies day to day?
[10:08] {munky} gdx gold right
[10:08] {nemo} gold miners
[10:08] {nemo} large
[10:08] {nemo} gdxj is junior gold miners
01[10:14] {Threei} Short Setup: GDX  .40 break
01[10:14] {Threei}  If holds  .50
01[10:16] {Threei}  1:1
[10:18] {nemo} looks like fishface didn't make it home
01[10:19] {Threei}  another scalp
[10:20] {munky} yea
[10:20] {munky} so far moves power is long, scalp is sh..opposite of last few days
01[10:20] {Threei}  exactly what we were talking about
01[10:21] {Threei}  nothing is forever, things change on a dime
[10:21] {munky} drives a man, er um, a munky crazy
01[10:21] {Threei}  only if you are trying to foresee it
01[10:21] {Threei}  instead, follow the SOP
[10:21] {munky} well, i am the newbie here...what the hell do i know
01[10:21] {Threei}  and let it fall where it may
[10:21] {nemo} yeah, follow the SAP
01[10:22] {Threei}  where A stands for...?
[10:22] {nemo} no, it's a word not an acronym
[10:22] {nemo} sorry it's a kinda' unlike me
[10:22] {nemo} don't know what came over me
[10:22] {munky} whats sop?
[10:22] {nemo} I must be possessed
[10:23] {nemo} call an exorcist
[10:23] {nemo} Standard Operating Procedure
01[10:23] {Threei}  standard operational procedure
[10:23] {nemo} not to be confused with snafu or fubar
01[10:23] {Threei}  or bohica
[10:24] {nemo} definitely not bohica
01[10:24] {Threei} Short Setup: FB  .40 break
[10:24] {thomcbell} sndk unreal
01[10:24] {Threei}  If holds  .50
[10:24] {thomcbell} looking for short setup here with 74 break
[10:24] {nemo} let's see if he goes for it?
[10:24] {thomcbell} invalidated sndk
[10:25] {dino} bohica, lol
[10:25] {munky} no clue
[10:25] {nemo} told you guys the story when I was in IT
[10:25] {nemo} we named all the servers Bohica1..2..3, etc
01[10:25] {Threei}  ok FB... you must be ready
[10:25] {nemo} Unix based, would have to go into various corporate officers offices to fix problems
01[10:25] {Threei}  double top in SPY too
[10:26] {thomcbell} spwr really ?
[10:26] {nemo} there is the route tree C:/Bohica1/ex/name
[10:26] {nemo} nobody ever made a comment
01[10:27] {Threei}  no go
[10:27] {munky} out
[10:27] {dino} out disca .30, +.40
[10:27] {nemo} hey munky, you still have fur around your ankles?
01[10:27] {Threei}  wtg
[10:27] {munky} fb will never ever ever fall again lol
[10:28] {munky} whatttttttt nemo? ODD
[10:28] {nemo} mmmhhhh
[10:28] {nemo} [10:27] {nemo} hey munky, you still have fur around your ankles?
[10:30] {dino} ande to .30
[10:31] {dino} slipped, out ande 79.22, +2.07
[10:32] {RonS} wtg
[10:32] {dino} ty
[10:32] {nemo} another dino rorschach chart
[10:33] {dino} indeed, but reading report, looks like confusion over 3/2 split on earnings
[10:35] {munky} how many shares u do? was pretty wide
[10:35] {nemo} Dino has 3 lot sizes normal small and very small
[10:35] {nemo} I think normal is 600
[10:37] {dino} 400 on it
[10:37] {munky} on that stock? munky falls out of tree/
[10:37] {dino} hooker stock munky
[10:37] {nemo} well, as long as you land on your head, should be fine
[10:38] {nemo} if you land on your ass, I fear brain damage
[10:45] {thomcbell} akam long setup 59.30 break if holding 59.20
[10:48] {thomcbell} sndk seriously
[10:49] {RonS} ya well look ctrp...
[10:50] {dino} sndk, i only see worlds fastest chip
[10:50] {nemo} huh?
[10:50] {dino} ron, was watching ctrp, don't get it
[10:51] {nemo} sombebody knows something
[10:51] {RonS} $50 mil in revenues...sheesh
[10:54] {dino} sndk smr s .82
[10:55] {dino} bstop .02
[10:56] {thomcbell} its like market was really short coming into today
[10:58] {thomcbell} akam invalidated
[11:04] {thomcbell} akam hah
01[11:04] {Threei} Long Setup:  TZA  .70 break
01[11:04] {Threei}  If holds  .64
[11:16] {dino} cov sndk .51, +.31, tytbell for idea
[11:16] {munky} dont like tza
[11:16] {munky} slow, working down
[11:16] {munky} ]out
[11:16] {nemo} market is so strong
[11:16] {munky} .64
[11:16] {nemo} buying every .20 pullback
[11:16] {dino} lxft spike
[11:17] {dino} wide
01[11:19] {Threei}  meh
[11:24] {thomcbell} mu might be too obvious but 25.01 long break might be worth watching
01[11:24] {Threei}  everything is consolidating near the highs
01[11:24] {Threei}  can't bring myself to buy these breaks
01[11:25] {Threei}  munky... remember that 1:3 on first opening trade that you didn't wait for?
01[11:25] {Threei}  think of it this way:
01[11:25] {Threei}  as day progresses, easy trades become fewere and farther between
01[11:26] {Threei}  that's why one does not ignore bigger moves in the morning in hope to catch them later on
01[11:26] {Threei} Short Setup: CTRP  47 break hl
01[11:27] {Threei}  If holds  .10
01[11:29] {Threei}  meh
01[11:41] {Threei} Short Setup: FB  .90 break
01[11:41] {Threei}  If holds  66
[11:44] {RonS} ptct drop
01[11:48] {Threei}  1 cent to 1:1...
01[11:48] {Threei}  stop to .96
[11:49] {nemo} ctrp...something is gonna' come out on that
[11:49] {dino} i always get slips on stops, but would rather get out when i want too, rather than when i need to
[11:50] {nemo} hate that when you're long and the bids evaporate, and the same the other way with the offers
[11:50] {dino} rgr
[11:52] {nemo} see vxx dino, correlation broke down...earlier than I thought today
[11:54] {thomcbell} fb we snuck a 1:1 on it
[11:55] {thomcbell} feye  hit a wall up there
[11:56] {RonS} unreal cab recovery they missed by 38% and guided down...
01[11:57] {Threei} Short Setup: IWM  .90 break
01[11:57] {Threei}  If holds  113
[11:57] {nemo} can't short
01[11:57] {Threei}  ugh
[11:57] {dino} gwph going to pot
[11:59] {RonS} heh
01[12:00] {Threei} Short Setup: JPM  .80 break
01[12:00] {Threei}  If holds  .90
[12:13] {dino} rgr sm l .75 ave
[12:14] {dino} disca smr l .09
[12:16] {thomcbell} pretty nice cup and handle forming on spwr 1 minute
[12:17] {thomcbell} too wide for us vad
[12:17] {thomcbell} im going to do 32.47 long break half lot
01[12:17] {Threei}  I don't feel like calling this kind anymore
01[12:17] {Threei}  can't assume everyone knows how to trade them
[12:18] {thomcbell} spwr 1:1
[12:19] {thomcbell} for a second
[12:20] {munky} dont change your calls because of me....i just have to pick which ones i want better
[12:21] {munky} plus i just got here really
[12:22] {nemo} that's a kind thought, munk, but there are certain stocks Vad doesn't call in the room
[12:22] {nemo} they trade somewhat erratically
[12:24] {munky} thought he was referrencing ctrp trade
[12:24] {nemo} spwr I think, mmmmhhh....another Chinese stock through the roof, weird
[12:24] {nemo} this solar, ctrp obviously travel....ahhhh Chinese New Year
[12:25] {dino} disca messed up, beats and raises -4
[12:30] {thomcbell} spwr 1:2
[12:30] {thomcbell} stop to 32.54 on balance
[12:30] {nemo} need to go under .44
[12:31] {thomcbell} im in volatility mode here
[12:31] {thomcbell} working too hard for winners to go below my cost basis
[12:31] {nemo} well, that's an invitation to get stopped out, but I understand
[12:31] {nemo} you put your stop in no-man's land
[12:32] {nemo} more than likely, it testst it's highs and then pulls back before heading higher...well that's one scenario
[12:36] {dino} out rgr .50, +.75
[12:37] {dino} cnat spike
01[12:38] {Threei}  (IT) Italy PD party has voted in favor of leader Renzi's proposal that a new government should be formed- Follow up 12:14ET: (IT) Italy PM Letta confirms he will tender resignation to President Napolitano on Friday
[12:40] {thomcbell} fb vad might be time to play games again around the round number
01[12:40] {Threei}  goes for another breakput, lol
[12:40] {dino} cnat smr s .65
[12:49] {dino} cnat bstop .92 not cooperating
[12:50] {dino} stop
[12:53] {thomcbell} dino that was a nice job on sndk short earlier
[12:56] {dino} ty
[12:56] {dino} you spotted it, thanked you above
[12:56] {thomcbell} you are wecome -
[12:59] {dino} cnat wow
[13:07] {dino} snowing like crazy, about 9" down already
01[13:07] {Threei}  sheesh
[13:07] {dino} nemo, you getting this storm too?
[13:08] {dino} disca flondering around btween 78.90s and 79.20s, break of .30 should send it up
[13:10] {dino} giddy-up
[13:12] {dino} sometimes i expect too much
01[13:19] {Threei}  FB getting heavy
01[13:19] {Threei}  no new highs
01[13:19] {Threei}  despite SPY going
01[13:19] {Threei} Short Setup: FB  .80 break
01[13:19] {Threei}  If holds  .90
01[13:21] {Threei}  1:1
[13:22] {dino} cyno hod
[13:31] {thomcbell} pva 13 long break if holding 12.09
[13:32] {thomcbell} 12.90
[13:32] {thomcbell} i nibbled already
[13:32] {thomcbell} very promising on daily chart
[13:32] {dino} out disca .34, +.25
01[13:33] {Threei}  not bad for today
01[13:34] {Threei}  but overall, don't even think of impressing us with this kind measly gains
01[13:34] {Threei}  we come to expect better from you
[13:45] {thomcbell} pva 1:1 and then that was it
[13:49] {RonS} scty ripping on a breakout
[13:58] {dino} just shovelled walk and deck, 12" and still snowing
[13:58] {nemo} Mt. Airy NC under 18 inches of snow
[13:58] {_black} where u guys live?
[13:58] {nemo} dino's in PA
[13:59] {nemo} I'm in MA, not bad here at all
01[13:59] {Threei}  better question is, why they live in those hellish places {G}
[13:59] {dino} northeast pa black, 40 miles north scranton
[13:59] {_black} lol
[13:59] {nemo} this will be Hell in the South East
[14:00] {dino} son's complaining, we take care of snow for 4 houses in neighborhood
01[14:00] {Threei}  what an incredibly stubborn climb today
[14:02] {dino} pcrx spike
[14:02] {dino} bios popping today on no news
01[14:03] {Threei}  to be fair, wind storm promised here for the evening/overnight
01[14:03] {Threei}  if I am not here tomorrow, look for a rancher landing on some wicked witch somewhere south
[14:04] {RonS} 54 and sunny here and am sick, 'nuff to po the Pope...
[14:04] {dino} banks not participating
01[14:05] {Threei} Short Setup: FB  67 break
01[14:05] {Threei}  If holds  .10
[14:06] {_black} i missed
[14:06] {_black} nice one
[14:06] {RonS} twtr hit
[14:06] {nemo} should bounce here
[14:06] {nemo} fb
01[14:07] {Threei}  1:1
01[14:08] {Threei}  looked away for a fraction of a second, missed cover at 1:2
01[14:09] {Threei}  lesson of the day: make Away stay fully closed while in trade
01[14:09] {Threei}  clothed
[14:09] {nemo} huh?
01[14:09] {Threei}  never mind nemo, this is not for your gentle eyes
[14:10] {dino} missed that too
[14:10] {dino} cyno to .89
01[14:16] {Threei}  65-70 mph wind overnight with gusts up to 85
[14:16] {thomcbell} spwr a shocking display today
[14:18] {RonS} went through a 70 mi/hr sustained windstorm when in Portland that lasted 24 hrs...amazing to see the doug fir forests uniformly laying sideways
[14:19] {dino} cyno to .99
01[14:19] {Threei}  that can cause serious destruction ron
[14:19] {dino} out cyno .99, +.98
[14:19] {RonS} gj
01[14:20] {Threei}  wtg
[14:20] {dino} tkmr spike
[14:20] {dino} ty
[14:21] {dino} smr s .79
01[14:21] {Threei}  RPT: Dems opposing Keystone own shares of competitors
[14:22] {RonS} nutz...more artic air coming then...
01[14:23] {Threei}  yeah, you better approve that pipeline
01[14:23] {Threei}  or we will freeze your collective butt
[14:25] {thomcbell} spwr now looks vulnerable
01[14:28] {Threei} Short Setup: C  .60 break
01[14:28] {Threei}  If holds  .70
01[14:31] {Threei}  FB balance got away
[14:32] {dino} cov tkmr .39, +.40
[14:33] {thomcbell} urs 42.60 short break if holding 42.70
[14:33] {_black} strong support on .60
01[14:33] {Threei}  yes... the more tempting if breaks
01[14:34] {Threei}  tends to work as a dam
01[14:34] {Threei}  holding strongly but once broken, torrent comes
[14:34] {dino} who was asking about euporic spikes the other day? tkmr was one
[14:34] {_black} myself
[14:35] {_black} have an example?
[14:35] {dino} take a look at tkmr
[14:35] {dino} that is my "edge" setup
[14:35] {_black} nice spike
[14:36] {_black} did u jump into?
[14:36] {dino} hyes see above, shorted .79 cov .39
[14:36] {dino} yes
[14:36] {dino} also shorted sndk spike earlier, and went long the rgr capitulation drop
[14:36] {_black} 40 cnts!!!!
06[14:37] * dino slaps _black around a bit with a large trout
06[14:37] * Threei hands dino a frozen trout, for more effective slappage
[14:37] {dino} where have you been all day?, posted all of these, rgr +.75, sndk +.20
[14:37] {dino} ande +2.07
[14:37] {_black} working in boring office
[14:37] {_black} lol
[14:37] {dino} all similar setups
[14:39] {dino} in any case black, since we cannot tell exact bottoms/or tops on spikes down/up, we adjust size to compensate for rinses
[14:40] {_black} ok
01[14:40] {Threei}  btw black... read yesterday's log?
[14:40] {_black} yes very carefully
[14:41] {_black} i agree with u about setting a daily/weekly/monthly  target
[14:41] {_black} in my case i focus more in the process
[14:41] {_black} because i'm learning
[14:42] {_black} i don't care i've i make 200 or 600$
[14:42] {_black} money should be the result of doing the job
[14:42] {_black} am i right?
01[14:42] {Threei}  that's it
[14:43] {_black} at least now
[14:43] {_black} that's my pain :-)
[14:44] {dino} stick to it
[14:44] {dino} disca back to that 78.90s area again
[14:44] {nemo} btw...that proprietary algo to which I have access...this is the 2nd strongest statistical day in the last year
[14:44] {thomcbell} what does that mean nemo
[14:45] {nemo} the power of this upmove is very strong
[14:45] {thomcbell} ok gotcha thanks
[14:45] {nemo} now, the stats are dropping off, and we're still floating up
[14:46] {thomcbell} urs could be a wicked up move too - might be two sided
[14:46] {thomcbell} im leaving it alone for now
[14:47] {dino} tbell, think urs was huge miss and lowered
[14:47] {dino} not that that means anything
[14:55] {dino} you know the old saying; "nothing good ever happens after 3:00". with that said, calling it an unusually good day. thx for ideas all, gn. time to snow plow neighbors
01[14:56] {Threei}  do you let them out before rasing the houses?
[14:56] {dino} lol
01[14:56] {Threei}  razing
[14:56] {dino} gn
01[14:57] {Threei}  see you ttomorrow :)
[14:57] {_black} c u tomorrow
[14:57] {_black} i'll try to be during opening
01[14:57] {Threei}  :)
[14:59] {thomcbell} possible pattern failure long in urs
[14:59] {thomcbell} but not doing it
01[15:01] {Threei} Short Setup: C  .70 break
01[15:02] {Threei}  If holds  .75
[15:10] {thomcbell} vad urs
01[15:12] {Threei}  you think bounce?
[15:13] {thomcbell} no my original setup was the 42.60 break
01[15:18] {Threei} Long Setup:  FB  .90 break
01[15:18] {Threei}  If holds  .80
01[15:21] {Threei}  NOW market decided to reverse??
01[15:24] {Threei}  no go
01[15:24] {Threei}  not my afternoon
[15:27] {thomcbell} spwr not done slaying people
[15:27] {thomcbell} stong as 10 men
[15:27] {thomcbell} strong
01[15:27] {Threei}  URS bouncing
01[15:30] {Threei} Long Setup:  GLD  .55 break
01[15:30] {Threei}  If holds  .45
01[15:30] {Threei}  las try
[15:35] {thomcbell} nemo check conversation window
[15:36] {nemo} I'm there
[15:37] {nemo} ohhhhhh Thooooommmmmmm
01[15:37] {Threei}  wow
01[15:37] {Threei}  thim, what did you do to him?? :)
01[15:37] {Threei}  thom
01[15:40] {Threei}  great... nemo just send this to me:
01[15:40] {Threei}  sent
[15:40] {thomcbell} nibbled ubnt near vwap here
[15:40] {RonS} lol
[15:46] {thomcbell} target is 46.25 on ubnt
[15:50] {thomcbell} a bit late in the show here though on ubnt
01[15:53] {Threei}  scrapping GLD
01[15:53] {Threei}  time runs out
01[15:53] {Threei}  have a good evening guys, see you tomorror
[15:57] {thomcbell} out ubnt 45.78