Tuesday, August 19, 2014

Aug 19 2014

In this quiet low volume market every 1:3 is precious

Chart's courtesy of the brokerage

Low activity day, merely 3 trades, but all three are wins. 

Session Time: Tue Aug 19 00:00:00 2014
[09:04] {dino} gm
01[09:04] {@Threei}  morning dino
[09:09] {RonS} gm...met the second billionare in my life yesterday...thought it was interesting that both are Iranian immigrants that came here as a result of the fall of the Shah in the late '70's...David Merage founded Hot Pockets with his brother, later sold it to Nestle for $2 billion, Bahram Akradi founded and is CEO of Lifetime Fitness...
01[09:09] {@Threei}  ron :)
[09:10] {dino} hanging w/the big wigs
01[09:10] {@Threei}  how are they in person?
[09:11] {RonS} real nice guys...thinking it is easy to be with that kind of dough...
01[09:11] {@Threei}  :)
[09:11] {troub} good morning
01[09:14] {@Threei}  troub :)
01[09:17] {@Threei}  The Icelandic Meteorology Office is closely monitoring Bárðarbunga, a volcano more than 2,000 meters in elevation, located beneath the country’s largest glacier. If lava hits glacier ice, it'll unleash an explosion that'll spew ash and steam high in the atmosphere. Aviation code now at orange.
[09:19] {RonS} was gonna say "hot damn" but now thinking more like cold dam...
[09:20] {RonS} this Lifetime facility is similar to the one 3 blocks from my house (this had better pictures)...http://www.yelp.com/biz/life-time-fitness-parker-2
01[09:21] {@Threei}  nice
[09:21] {RonS} ...the one by my also has an adjacent 20 court (10 inside, 10 outside) tennis complex...they spent $50 million on this entire facility
[09:23] {RonS} said thanks to Mr. Akradi for building it...had not been into a gym in 40 years...he said 50% of the membership nationally had never joined any other kind of club...interesting
[09:24] {dino} neat
01[09:28] {@Threei}  nemo, your dreams might be close to realization... google Bárðarbunga
[09:31] {nemo} Yeah, getting ready to eat the neighbors
01[09:33] {@Threei} Short Setup: FB  .10 break
01[09:33] {@Threei}  If holds  .20
[09:33] {nemo} love how aapl keeps flirting with 100
01[09:33] {@Threei}  1:1
01[09:35] {@Threei} Long Setup:  TWTR  .15 break
01[09:35] {@Threei}  If holds  .05
01[09:37] {@Threei}  to .09
01[09:38] {@Threei}  1:1
01[09:38] {@Threei}  Upside:
01[09:38] {@Threei}  -GSIT +24% (earnings)
01[09:38] {@Threei}  -URBN +1.0% (earnings)
01[09:38] {@Threei}  -AMWD +21% (earnings)
01[09:38] {@Threei}  -HD +3.9% (earnings)
01[09:38] {@Threei}  -DKS +5.4% (earnings)
01[09:38] {@Threei}  -TJX +4.5% (earnings)
01[09:39] {@Threei}  -ARO +11% (guides Q2)
01[09:39] {@Threei}  Downside:
01[09:39] {@Threei}  -JMEI -3.5% (earnings)
01[09:39] {@Threei}  -BHP -3.1% (earnings)
01[09:39] {@Threei}  -RDEN -23% (earnings)
01[09:39] {@Threei}  -LOCO -6.0% (disappointing broker initiations)
01[09:39] {@Threei}  TLLP -2.9% (offering of 2.1M common units)
01[09:42] {@Threei}  1:2  TWTR
01[09:42] {@Threei}  (close enough anyway)
[09:43] {nemo} except for that little wick on the open spy has a .16 range
[09:57] {nemo} aapl almost there
01[09:58] {@Threei}  closed TWTR in full
01[09:58] {@Threei}  happy so far
[10:02] {dino} wow, lci guides raises guidance big time yesterday and gives all back today
[10:02] {dino} looking for gap fill around 38.15
[10:05] {nemo} one could make an argument for starting an aapl short here with the thought of adding more just over 100
[10:05] {nemo} the animal spirits want that number
[10:05] {dino} magnet
[10:05] {nemo} yeah...moths to a flame
[10:06] {nemo} Ravens to EAP
[10:09] {dino} lci sm l .25
[10:10] {nemo} there's your 1:1
[10:10] {nemo} 1:2 also
01[10:27] {@Threei}  gotta wake up earlier these days, stillstanding... missed two good trades
01[10:44] {@Threei}  AMT Hearing weakness being attributed to a cautious report from Muddy Waters
[11:16] {mib_stillstanding} hopefully no bad trades
01[11:17] {@Threei}  no
01[11:17] {@Threei}  2 shots, 2 wins... one even deserved a visual:
01[11:17] {@Threei}  http://tradinglog.realitytrader.com/2014/08/aug-19-2014.html
[11:18] {mib_stillstanding} vn
01[11:25] {@Threei}  nemo... you overdo this application of superglue to SPY on daily basis
[11:26] {nemo} All of Europe on vacation, it's not my fault
01[11:26] {@Threei}  I elect to think it's yours
[11:31] {dino} its always your fault nemo
01[11:32] {@Threei}  there you go
01[11:35] {@Threei} Long Setup:  FB  .10 break
01[11:35] {@Threei}  If holds  .05
01[11:35] {@Threei}  very tight stop, and just a scalp most likely
[11:36] {dino} phm hl l .00
01[11:41] {@Threei}  - EUR/USD moved out to fresh 2014 lows below 1.3330 this morning
01[11:56] {@Threei}  feel free to take scalp as you see fit
01[11:56] {@Threei}  out .18, full lot
[11:56] {nemo} AAPL 100
01[12:27] {@Threei}  nice move FB
[12:27] {nemo} until aapl comes in everything is a long party
[13:02] {dino} slxp spike
[13:03] {dino} smr s 149.95
[13:05] {RonS} Allergan Has Approached Salix Pharmaceuticals About Acquisition of Drug Co. -- Sources
[13:05] {dino} ty
[13:05] {RonS} from dj news
[13:06] {dino} cov slxp 145.84, +4.11
[13:07] {RonS} Allergan Is In Talks With More Than One Acquisition Target -- Source
[13:09] {dino} reload s smr 14850
[13:10] {dino} cov 148.74 -.24
[13:10] {nemo} it's tough in this environment not to force trades
[13:10] {dino} damn rinsed
[13:11] {nemo} spy looks short here
[13:12] {dino} smr s 148.25
[13:14] {nemo} boy am I bored.  watching "Mysteries of the Bible"
[13:14] {dino} cov 147.73, +.52
[13:17] {dino} smr s .77
[13:22] {dino} cov 148.20 -.53
[13:23] {dino} smr s 148.80
[13:24] {dino} stop .33-.53
[13:24] {dino} hmmm
[13:29] {dino} cce spike
[13:32] {dino} adding lci dec calls off yesterdays news
[13:36] {dino} slxp smr s 151.98
[13:41] {dino} no go
[14:11] {nemo} dcc dino
[14:12] {nemo} SPY looks northbound
[14:14] {nemo} gonna get into that gap
01[14:38] {@Threei}  Fluorescent Green “Fireball” Seen in Sky Over Vancouver Island
01[14:38] {@Threei}  they are coming
01[14:39] {@Threei}  http://www.cheknews.ca/news-update-fluorescent-green-fireball-seen-in-sky-over-vancouver-island/
01[15:00] {@Threei} Short Setup: TWTR  .15 break
01[15:00] {@Threei}  If holds  .20
[15:01] {RonS} taking off early here...gone to san diego until next tuesday...y'all have some good ones...ciao
[15:01] {dino} have fun
[15:02] {RonS} will do
01[15:02] {@Threei}  take care ron
01[15:08] {@Threei}  Invalidated
[15:09] {nemo} yeah shorts in a low volume float up is like _________ in a _____________
[15:10] {nemo} what's worse, I have index short setups developing
01[15:11] {@Threei}  too narrow anyway
[15:11] {nemo} 200 a siren song for SPY
[15:12] {dino} yeah, hard to make cake with gap and sits
[15:12] {nemo} yeah, central banks gap the overnight futures on the cheap and then the market holds them
[15:13] {nemo} these last two weeks of August no volume no sellers
[15:13] {nemo} easy game
01[15:15] {@Threei}  just imagine the ampkitude of the move when something shakes the markets out of this complacency
[15:18] {nemo} Dow almost 17000
[15:18] {dino} it wants 20k imo
[15:19] {nemo} yeah, well I figure before labor day easy on 17000...20k I might be dead
[15:19] {dino} 20k within 18 months
[15:21] {nemo} arguably should short indexes here
[15:22] {dino} petm spike
[15:23] {dino} up for sale
01[15:23] {@Threei}  [PETM] Said to be seeking to explore a potential sale; could review strategic alternatives - financial press - Reminder: Jana partners(9.8% stake) has been a frequent agitator for a strategic review at the company
[15:24] {dino} smr s .95
[15:25] {dino} cov .34, +.61
01[15:25] {@Threei}  wtg
01[15:25] {@Threei}  it was worth the wait :)
[15:25] {dino} yeah, need to just sit back and wait, but tough to stay awake
[15:27] {dino} smr s .06
[15:30] {dino} cov petm .66, +.40
[15:31] {dino} i should just show up around 2:30 and trade last hour and half
[15:32] {dino} dgly spike
[15:36] {nemo} guess I should have shorted ;-)
[15:40] {dino} out phm .07, +.07 for all day, sheesh
[15:42] {dino} out kate calls from last week, +.35/22%
01[15:43] {@Threei}  KATE's nice, but PHM is lol
01[15:48] {@Threei}  OK guys, inactive but 100% day
01[15:48] {@Threei}  have a good evening, see you tomorrow
[15:48] {dino} u2, gn all