Friday, April 11, 2014

Apr 11 2014

Somewhat of a back and forth day. A few nice juicy wins, a few stops, overall about flat or slightly positive. No complaints about the week overall.

Session Time: Fri Apr 11 00:00:00 2014
01[08:58] {@Threei}  JPMorgan Chase and Co Expect Mortgage Production pretax income to be negative for FY14
[08:58] {dptl} good morning
01[08:59] {@Threei}  dp :)
01[09:03] {@Threei}  nice beating on it
01[09:04] {@Threei}  conf call doesn't really go their way
[09:09] {cosmo} but they got bailed out for that in advance...right?
01[09:12] {@Threei}  yes but then london whale ate those funds
[09:14] {cosmo} right...certainly not those truely underwater homeowners
01[09:14] {@Threei}  nah, those are still waiting for their bailout
[09:18] {RonS} good morning gents
01[09:19] {@Threei}  ron :)
01[09:20] {@Threei}  UR) German Fin Min Schaueble: G7 agreed to resolve Ukraine crisis jointly- West would be firm if Ukraine crisis escalates; *Note: G7 responded to Russia President Putin letter to 18 European leaders that Ukraine risks halt Russian gas exports
[09:21] {ese} gm
01[09:21] {@Threei}  ese :)
01[09:24] {@Threei}  C .50 break short as opening play... let's see if it gives us a minute or two of consolidation
01[09:25] {@Threei}  nah... wouldn't wait for us
01[09:30] {@Threei} Short Setup: GLD  127 break
01[09:30] {@Threei}  If holds  .10
01[09:32] {@Threei}  stop to .06
01[09:35] {@Threei}  meh
01[09:37] {@Threei} Long Setup:  YHOO  .50 break hl
01[09:37] {@Threei}  If holds  .40
01[09:39] {@Threei}  1:1
01[09:39] {@Threei}  1:2
01[09:39] {@Threei}  1:3
01[09:40] {@Threei}  out
[09:41] {_jakecc} any shorting here at this spike?
01[09:41] {@Threei}  on what?
01[09:42] {@Threei}  YHOO, or market in general?
[09:44] {_jakecc} jeez, anything hot with small earnings... yelp, solar, tsla, z, ... or maybe this is a bounce day...
01[09:44] {@Threei}  (US) Dept of Homeland Security Official: Hackers are attempting to exploit the Heartbleed internet security exploit in targeted attacks
01[09:44] {@Threei}  we trade chart setups, jake
[09:45] {_jakecc} ok,, qihu short now at 89?
01[09:46] {@Threei} Short Setup: WMT  .90 break
01[09:46] {@Threei}  If holds  72
01[09:46] {@Threei}  89?
01[09:46] {@Threei}  it's under 88
[09:46] {_jakecc} that was fast... missed it
[09:46] {Les} IWM rising channel from April last year. Testing lower channel support today
[09:47] {nemo} did you mean hold 77 vad?
01[09:47] {@Threei}  so, if it moves $1 in 1 minm, with spread 10-20 cents, how are you going to control risk on it?
06[09:47] * Les smacks bunny boy around for stating the obvious
01[09:48] {@Threei}  also, how did you pick 89? why not short it at 86, 87 or 88?
01[09:48] {@Threei}  each of which would havbe killed you
[09:48] {_jakecc} i waited for the opening spike, never short before that
01[09:48] {@Threei}  there was a spike that took it to 86
01[09:49] {@Threei}  and it continued for 3 dollars more after that
01[09:49] {@Threei}  no go WMT
[09:49] {_jakecc} right, then I thought 89 would be a good spot to short, but it was too fast and I missed it
01[09:50] {@Threei}  ok... my point is, there should be something more than "I thought" to initiate the trade
01[09:50] {@Threei}  anf that something is technical setup
[09:51] {nemo} wmt can't get above vwap...short again
01[09:52] {@Threei}  (UR) NATO official sees Russia as seeking a full occupation of Ukraine
01[09:52] {@Threei}  idiot
[09:52] {_jakecc} ok, IBM short here, stop at 196.10?
[09:52] {_jakecc} out
01[09:53] {@Threei}  jake... we tarde certain setups, not feelings
01[09:53] {@Threei}  stidy them and watch for them
01[09:53] {@Threei}  study
01[09:53] {@Threei} Short Setup: C  .50 break
01[09:53] {@Threei}  If holds  .60
01[09:55] {@Threei}  rinse WMT
01[09:55] {@Threei}  nemo was right
01[09:55] {@Threei}  (oh the pain)
[09:55] {nemo} vad, not to give you more indicators, but vwap tells you if institutions are gonna get involved
01[09:56] {@Threei}  what is it, "teach vad to trade" morning?
[09:56] {nemo} no
01[09:57] {@Threei}  Invalidated  C
[10:01] {_jakecc} ibm couldnt hold 196... is this a setup?
[10:01] {nemo} watch what it does in .30 area, likely bounce
01[10:02] {@Threei} Long Setup:  DAL  .20 break
01[10:02] {@Threei}  If holds  .10
01[10:06] {@Threei}  SPY is shaky here
01[10:06] {@Threei}  keeps DAL down
[10:07] {dptl} long aee
01[10:07] {@Threei}  no go
01[10:11] {@Threei} Long Setup:  TZA  .70 break
01[10:12] {@Threei}  If holds  .60
[10:15] {RonS} BREAKING NEWS: AutoNavi to be acquired by Alibaba in deal valued at $1.5 billion.
01[10:17] {@Threei}  1:1
01[10:18] {@Threei}  let's panic, market
[10:20] {thomcbell} glog 26 short break if holding 26.12
01[10:21] {@Threei}  good chart, nasty spread
[10:21] {thomcbell} disregard
[10:21] {thomcbell} kicking myself
[10:22] {thomcbell} i bought it pre-open - deal is major positive
01[10:22] {@Threei}  why, no one is around to kick?? :)
01[10:22] {@Threei}  TZA closed balance
01[10:24] {@Threei} Long Setup:  YHOO  ,10 break
01[10:24] {@Threei}  If holds  33
01[10:25] {@Threei}  1:1
[10:27] {_jakecc} would yhoo be a hold to 33.50?
[10:27] {nemo} it's all about the stop now
01[10:28] {@Threei}  1/4 more oput
01[10:28] {@Threei}  jake read this to see how we manage a trade:
01[10:28] {@Threei}
01[10:28] {@Threei}  1:2
01[10:29] {@Threei}  right answer to your question is: no one knows. Trading is done by taking time-tested setups and managing the trade, not by feeling and guessing
[10:30] {nemo} now you set your stop
[10:30] {_jakecc} i'm not guessing. what i meant was last limit sell of last 1/2 of shares at 33.50
01[10:31] {@Threei}  please read the link I gave you
[10:31] {nemo} risk control Jake, set your stop
[10:31] {nemo} that's all you can control
01[10:31] {@Threei}  1:3
01[10:32] {@Threei}  my a$$ is out
[10:32] {nemo} did Les leave?
06[10:32] * @Threei slaps nemo around a bit with a large roll of cash
01[10:33] {@Threei}  now you've done it nemo... upset a new guy
01[10:34] {@Threei}  by insulting suggestion to set a stop
[10:34] {Les}
[10:34] {Les} nah, reading
[10:36] {nemo} ah well
[10:36] {dptl} watching zion .10 break short
01[10:36] {@Threei}  EUR/USD (EU) ECB's Coeure: The stronger the Euro currency becomes, the greater need there is to be accomodative in monetary policy
01[10:36] {@Threei}  imbecile
[10:40] {RonS} wow, look yhoo dump
01[10:40] {@Threei}  right from our exit point
01[10:40] {@Threei}  never reaching that coveted .50
[10:43] {thomcbell} oh my gild
[10:43] {thomcbell} what a move from the open
[10:50] {dptl} watching mrk .20 long
[10:51] {dptl} missed
01[10:51] {@Threei}  NQ Muddy Waters' Block: Company making excuses is further proof it is a fraud
[10:51] {thomcbell} vjet 15.25 short break if holding 15.40
[10:53] {thomcbell} cancelling this one
[10:53] {thomcbell} too banans
01[10:55] {@Threei}  crap
01[10:55] {@Threei}  had IWM .60 break alert prepared
01[10:55] {@Threei}  it broke in one sharp spike, so I waited for pullback
01[10:55] {@Threei}  guess what... still waiting
[10:56] {dptl} long gnw
01[10:56] {@Threei}  50 cents in one swoop
01[11:05] {@Threei} Long Setup:  IWM  .80 break hl
01[11:05] {@Threei}  If holds  70
[11:08] {nemo} herky jerky action
[11:08] {nemo} not surprising after yesterday
01[11:08] {@Threei}  no go
[11:10] {thomcbell} darn it glog
[11:10] {thomcbell} shoould have kept watching
[11:12] {goinshort} morning all !
01[11:12] {@Threei}  hey gs
[11:12] {goinshort} V !
01[11:15] {@Threei}  new high is coming on SPY, most likely... after that, watching VXX for bounce
[11:15] {nemo} they're closing gap in finnies
01[11:26] {@Threei} Long Setup:  JPM  .70 break
01[11:26] {@Threei}  If holds  .60
[11:26] {thomcbell} gild looks like it wants higher
01[11:27] {@Threei}  change to .65 break
01[11:27] {@Threei}  Invalidated
01[11:29] {@Threei} Long Setup:  JPM  .55 break
01[11:29] {@Threei}  If holds  .45
06[11:31] * @Threei kicks JPM in the rear
06[11:32] * @Threei hopes part of that kick hit Dimon
01[11:32] {@Threei}  1:1
[11:37] {dptl} short xom
[11:41] {dptl} stopped...cant beleive i didt get filled at .50
[11:42] {dptl} its just wiped me out
01[11:42] {@Threei}  lunch time trading, why not take .51
01[11:42] {@Threei}  don't let it get away
[11:42] {nemo} yeah, whole numbers are dangerous
[11:42] {dptl} hapend so fast i couldt
01[11:42] {@Threei}  also, it did hit 1:1, why don't youi trail?
01[11:43] {@Threei}  whether you get your fill or not, trail is in order after 1:1
[11:43] {dptl} so fast scrude up
[11:44] {dptl} had 1:1 and lost .12c boy oh boy
01[11:44] {@Threei}  you didn't have to
01[11:44] {@Threei}  you had two minutes to cover it just above .60
01[11:45] {@Threei}  what you did instead is froze in hope it drops again
[11:45] {dptl} i guess
01[11:45] {@Threei}  stop hoping and guessing, trade the rules
01[11:46] {@Threei}  each and every trade is not a creative endeavor
01[11:46] {@Threei}  just follow the procedure and let odds take care of themselves
01[11:46] {@Threei}  some trades will fail, some will work,
01[11:47] {@Threei}  on a total, sound system will keep you positive
01[11:47] {@Threei}  Start getting creative every time, you will get killed
[11:49] {dptl} short sbux
01[11:59] {@Threei}  covered?
[11:59] {dptl} out -.04
01[12:00] {@Threei}  you did it again... had 1:1 and let it get away
01[12:00] {@Threei}  shut down trading for an hour and go for a walk, you are in revenge trading pattern
[12:01] {dptl} i didt get filled if i have to punch offer it would be not even close to 1:1
[12:01] {thomcbell} glog 25.96 long break if holding 25.85
[12:01] {thomcbell} small shares
01[12:02] {@Threei}  dp... chill out, will you?
01[12:03] {@Threei}  you didn't get fill at .65
01[12:03] {@Threei}  .67 was there fior taking when it started upticking
01[12:03] {@Threei}  think it was worse idea than letting it go negative? it's a friking lunch time
[12:04] {dptl} yeah, taking a break now
01[12:04] {@Threei}  and consider this:
01[12:04] {@Threei}  the trade itself was not so compelling to beging with
01[12:04] {@Threei}  50 cents day range, and you took it right in the middle of nowhere
[12:05] {nemo} middle distance in a fight, sitting on the fence, middle of a minefield...worse places to be
[12:05] {nemo} worst
01[12:05] {@Threei}  yup
[12:05] {nemo} oh, and of course...............marriage
[12:05] {dptl} you right....
[12:06] {nemo} privyet
[12:06] {dptl} be back in an hour
[12:06] {nemo} vodka break?
[12:06] {thomcbell} glog 1:1
[12:14] {thomcbell} GLOG 1:2
01[12:15] {@Threei}  nice one
[12:19] {thomcbell} GLOG 1:3
01[12:19] {@Threei} Long Setup:  VXX  .20 break hl
01[12:19] {@Threei}  If holds  .10
[12:19] {thomcbell} Closed it glog
01[12:20] {@Threei}  good chance that we start downtrend here, but let's do hl to respect a lunch time
[12:24] {thomcbell} wow this glog is the only chart that looks like this in the whole market
01[12:27] {@Threei}  meh
01[12:36] {@Threei} Long Setup:  TZA  .70 break
01[12:36] {@Threei}  If holds  .64
[12:37] {thomcbell} eep is like glog
[12:38] {thomcbell} another good performer today
01[12:39] {@Threei}  Invalidated
[12:41] {nemo} [09:52] {nemo} wmt can't get above vwap...short again
[12:41] {nemo} oos
[12:41] {nemo} sorry
[12:41] {nemo}
01[12:42] {@Threei}  making records of pearls odf wisdom for the next generations?
01[12:42] {@Threei}  hehe... saw this one a week ago
01[12:42] {@Threei}  hillarious
[12:47] {goinshort} that was good nemo
[12:49] {nemo}
01[12:56] {@Threei} Long Setup:  TZA  .70 break
01[12:56] {@Threei}  If holds  .64
01[12:59] {@Threei}  Invalidated
01[13:04] {@Threei}  jerky...
01[13:05] {@Threei}  crrrap
01[13:05] {@Threei}  right idea, no clear entry
[13:05] {thomcbell} sndk 74 short break if holding 74.10
[13:11] {nathan} good afternon
[13:11] {thomcbell} no go sndk
01[13:12] {@Threei}  hey nathan
01[13:12] {@Threei}  ok
01[13:12] {@Threei}  TZA again
01[13:12] {@Threei}  third time
01[13:12] {@Threei}  same setup, .70 break long
[13:15] {dptl} short mu
[13:16] {thomcbell} nasty head and shoulders in process there
01[13:18] {@Threei}  die SPY, enouhg of these nonsense bounce attempts
01[13:20] {@Threei}  good boy
01[13:20] {@Threei}  break .10 now
01[13:21] {@Threei}  half out TZA
01[13:21] {@Threei}  1:1
01[13:26] {@Threei}  next leg down would be very much appreciated
01[13:26] {@Threei}  thank you for obliging, SPY
[13:27] {thomcbell} feye 47.80 short break if holding 47.90
01[13:27] {@Threei}  dp, are you breathing over there?
01[13:27] {@Threei}  that blue tint in your face can't be all that healthy
[13:27] {dptl} yes out half mu for now
01[13:27] {@Threei}  :)
[13:28] {thomcbell} feye cancelled for now
[13:30] {nathan} very nice TZA Vad!
[13:31] {nathan} ty
01[13:31] {@Threei}  yw sir
[13:31] {nathan} :-)
[13:31] {nathan} no more shares to sell
01[13:31] {@Threei}  hunted this frikin TZA entry for three times, two got invalidated
01[13:31] {@Threei}  third finally triggered
[13:32] {nathan} pretty nice pullback in 15min graph
[13:33] {nemo} IWM low bounce
[13:39] {nemo} things look long
01[13:40] {@Threei}  must be blue pill...
[13:41] {nemo} peyote
[13:41] {nemo} peyote was right
[13:42] {nemo} vwap runs
[13:42] {dptl} watching sbux again for short
[13:45] {dptl} inval. sbux
[13:46] {thomcbell} nice cover mu
01[13:46] {@Threei}  yeah, that was correct management
01[13:47] {@Threei}  dp needs a big bucket of ice next to his trading station
01[13:47] {@Threei}  when he keeps his head cool, he is good at finding setups
[13:47] {dptl} i covered some at .05 and out last at .15
01[13:48] {@Threei}  but when he gets hot under the collar, he is capable of destruction of two trading accounts per day
[13:49] {dptl} :) true
01[13:49] {@Threei}  I am thinking of installing a camera in his office, and a remotely controlled slapping mechanical arm
01[13:49] {@Threei}  I see him overtrading, I push a button
[13:50] {dptl} :).......watching hd short
01[13:50] {@Threei}  we can patent that device under the name "Great Trading Disciplizator"
01[13:51] {@Threei}  disciplinizator rather
[13:51] {dptl} lol...right
01[13:52] {@Threei}  just don't let nemo get his hands on it... Les might get two concussions a day
01[13:52] {@Threei} Long Setup:  WMT  .50 break
[13:56] {dptl} will try 76 break short HD
01[13:58] {@Threei}  Invalidated
[13:59] {dptl} not yet hd
01[14:05] {@Threei}  WMT reestablished
[14:09] {dptl} watching met
[14:09] {dptl} short
[14:10] {dptl} in .68
01[14:20] {@Threei}  stop .44
01[14:26] {@Threei}  out
[14:29] {nathan} GM
[14:33] {nathan} 1:1
[14:34] {nathan} 1:2
01[14:35] {@Threei} Long Setup:  AIG  .45 break
01[14:35] {@Threei}  If holds  .40
[14:35] {dptl} stop to .46 last piece met
[14:38] {dptl} to .41 now
01[14:40] {@Threei}  (UR) Meeting consisting of Russia, US, Ukraine, and EU foreign ministers scheduled for Thursday of next week
[14:40] {dptl} to .36 now
01[14:41] {@Threei}  Russian ministers pakcs a suitcase full of vodka, Ukranian - valerian drops
01[14:47] {@Threei}  dp, .31 is probably a good idea now
[14:48] {dptl} yes .31 for now.....may be it'll go to 49
01[14:49] {@Threei}  sure... just choke it
01[14:52] {@Threei}  change AIG to .40 break
01[14:52] {@Threei}  .c .32
01[14:52] {@Threei}  If holds  .32
[14:54] {dptl} ok done met
[14:54] {dptl} got to go ...have a good weekend all...see ya monday
01[14:55] {@Threei}  take care dp
[14:55] {nathan} 1:1
01[14:55] {@Threei}  1:1  AIG
01[14:56] {@Threei}  walk for some cool down does wonders, eh
[14:56] {nathan} thx sir
01[14:56] {@Threei}  yw
[15:08] {nathan} well have a nice weekend
01[15:08] {@Threei}  you too nathan
01[15:24] {@Threei}  1:2
01[15:28] {@Threei}  HLF drop
01[15:29] {@Threei}  Herbalife Ltd. Fox News's Gasparino: Herbalife is bracing for an upcoming '20/20' news magazine expose of its business practices; Herbalife has been cooperating with '20/20' but is concerned about whistle blower allegations
01[15:29] {@Threei}  Ackman: yeah baby!!
01[15:35] {@Threei} Long Setup:  MU  .20 break
01[15:35] {@Threei}  If holds  .15
[15:47] {RonS} Herbalife April 50 puts are active on the U.S. Department of Justice and the FBI have launched a criminal investigation into the company, reports The Financial Times.
01[15:48] {@Threei}  Herbalife Ltd. DOJ has initiated a criminal probe into the allegations that Herbalife is a 'pyramid scheme' - FT **Reminder: On Jan 23rd, Senator Markey (D-MA) called on the SEC and FTC regulators to investigate Herbalife over allegations raised by constituents about its MLM sales structure.
01[15:48] {@Threei}  Ackman: Markey, marry me!
01[15:53] {@Threei}  ok guys, thank you all, have a great weekend
01[15:53] {@Threei}  see you Monday