Tuesday, August 26, 2014

Aug 26 2014

Difficult to say whether it's just one day or patterns start reasserting themselves, but much better trading environment than yesterday, with positive balance. Hopefully it's a beginning of a trend... end of August... etc.

Session Time: Tue Aug 26 00:00:00 2014
01[09:02] {@Threei}  stillst, see private message
[09:06] {nemo} What a surprise...low spy volume today
01[09:06] {@Threei}  still august :)
[09:07] {dino} gm
01[09:08] {@Threei}  dino :)
[09:10] {RonS} gm all
01[09:11] {@Threei}  Ron, welcome back
01[09:11] {@Threei}  how was the trip?
[09:11] {dino} good time ron?
[09:12] {RonS} had a nice time...40 years later, and the wife an I haven't killed each other...yet...
01[09:13] {@Threei}  I have 9 years to go to reach your record :)
[09:14] {nemo} damning with faint praise
[09:15] {RonS} sd a real convention town...very few homeless and didn't get panhandled once...with the amount of walking we did would have got hit 1000 times in sf
[09:17] {RonS} carrier group carl vinson set sail on 10 month deployment...idiots in dc must not have figured out where to send them...2 days late destroyers cruising through sd bay with nowhere to go...unreal...
01[09:17] {@Threei}  lol
[09:18] {troub} good morning
01[09:18] {@Threei}  troub :)
[09:18] {RonS} carrier reagan in port getting a 2 yr $1 bil retrofit...unreal
[09:20] {_biotrader} morning
01[09:21] {@Threei}  biotrader :)
[09:21] {RonS} carriers reagan, vinson, and even 50's carrier museum midway on end taller than any building in sd...unreal
01[09:21] {@Threei}  Upside:
01[09:21] {@Threei}  -KITE +16% (positive results for non-Hodgkin's Lymphoma patients after receiving anti-CD29 Chimeric Antigen receptor)
01[09:21] {@Threei}  -DGLY +18% (continued momentum)
01[09:21] {@Threei}  -DSW +11% (earnings)
01[09:21] {@Threei}  -THI +11% (confirmed deal with BKW Buffett involved in financing)
01[09:21] {@Threei}  -BKW +4.5% (reached agreement w/THI, BRK.B takes stake)
01[09:21] {@Threei}  -ACHN +4.4% (potential takeover rumors fueling growth)
01[09:21] {@Threei}  -MBLY +4.2% (initiated at most major brokerages with either buy or outperform ratings)
01[09:22] {@Threei}  Downside:
01[09:22] {@Threei}  -DRL -20% (collapse of settlement negotiations with Puerto Rico)
01[09:22] {@Threei}  -TSL -7.7% (earnings)
01[09:22] {@Threei}  -BBY -5.5% (earnings)
01[09:22] {@Threei}  -SAFM -5.4% (earnings)
01[09:22] {@Threei}  -MOV -4.6% (earnings)
01[09:22] {@Threei}  -NFLX -0.6% (shut out at Emmys)
01[09:22] {@Threei}  -KANG -15% (earnings)
01[09:22] {@Threei}  -ADEP -17% (earnings)
[09:22] {RonS} old saying...inversion happen...thi
[09:22] {RonS} inversions
[09:22] {RonS} canada corporate tax rate -10% vis us...
[09:24] {RonS} freakin ltm was laying out reit strategy at meeting w/ big investors when met him on break...and he didn't even tell me...wtf?
01[09:24] {@Threei}  lol
01[09:24] {@Threei}  watching FB for short on 72 break
[09:27] {RonS} Ukrainians will vote in early parliamentary elections after coalition collapses: http://bloom.bg/1sqLVrG
01[09:28] {@Threei}  unless there is no Ukraine by then
[09:28] {stillstanding} FB you mean 75
01[09:28] {@Threei}  yes... gone anyway
[09:29] {RonS} heard O went to Emmys "because when you are not working you need to keep your name out there"
[09:31] {nemo} BBY
01[09:33] {@Threei} Short Setup: C  .60 break
01[09:33] {@Threei}  If holds  .65
01[09:35] {@Threei}  meh
[09:35] {stillstanding} too fast never got in
[09:35] {nemo} do it here
01[09:35] {@Threei}  not sure
01[09:35] {@Threei}  SPY decided up
01[09:35] {@Threei}  let's wait for more definitive setup
01[09:36] {@Threei} Long Setup:  FB  .80 break
01[09:36] {@Threei}  If holds  .70
01[09:38] {@Threei}  stop to .74
01[09:39] {@Threei}  not liking how heavy it is
01[09:39] {@Threei}  normally makes it much fastre this early in the morning
01[09:43] {@Threei}  mover like FB has troubles to go more than 5 cents from trigger, eh?
01[09:44] {@Threei}  let's take half off
01[09:44] {@Threei}  .87
01[09:45] {@Threei}  stop to .79
01[09:46] {@Threei}  1:1
01[09:47] {@Threei}  finally some life on this planet
01[09:47] {@Threei}  1/4 more out
01[09:47] {@Threei}  .98
01[09:47] {@Threei}  stop to .84
01[09:47] {@Threei}  1:2
01[09:47] {@Threei}  stop .89
01[09:51] {@Threei}  to .94
01[09:52] {@Threei}  out in full
01[09:52] {@Threei}  whew... as if I unloaded a railcar of charcoal
01[09:52] {@Threei}  don't remember opening trade being this slow
[09:53] {troub} well played vad
01[09:53] {@Threei}  ty
[09:53] {stillstanding} at least I did not hear the bastard word
01[09:53] {@Threei}  no, FB is a good girl this morning... a bit slow, but :)
01[09:58] {@Threei} Long Setup:  NVDA  .30 break
01[09:58] {@Threei}  If holds  .25
01[10:00] {@Threei}  *(US) AUG CONSUMER CONFIDENCE: 92.4 V 89.0E
01[10:00] {@Threei}  consumer is confident
01[10:00] {@Threei}  yay
01[10:02] {@Threei}  disregard NVDA
01[10:02] {@Threei}  C is getting ahead of itself
01[10:03] {@Threei} Short Setup: C  52 break
01[10:03] {@Threei}  If holds  .10
01[10:04] {@Threei}  if triggers, looks like nice kangaroo tail
01[10:04] {@Threei}  ok C, start being useful
01[10:05] {@Threei}  even though you are bank
01[10:09] {@Threei}  stop to .06
01[10:10] {@Threei}  ugh
[10:12] {stillstanding} no name calling?
[10:13] {stillstanding} it was a scary contratrend entry
01[10:13] {@Threei}  it was standard reversal setup, we play these all the time
01[10:14] {@Threei}  to stop it dead in its tracks and not repeat this yeaterday's show: I am asking you to refrain from comments judging our trades until you study our courses
01[10:14] {@Threei}  deal?
[10:14] {stillstanding} done.
01[10:14] {@Threei}  thank you
06[10:14] * nemo racks slide on colt 1911
[10:16] {nemo} watch .35 area on C
01[10:16] {@Threei} Short Setup: WMT  .70 break
01[10:16] {@Threei}  If holds  .80
[10:18] {nemo} LVS
[10:20] {nemo} C
01[10:29] {@Threei}  30 cents SPY range
01[10:43] {@Threei}  [MO] Court rules against Philip Morrisa USA in its bid over documents in a whistleblower lawsuit
01[10:45] {@Threei}  BKW
01[10:46] {@Threei} Long Setup:  BKW  .55 break hl
01[10:46] {@Threei}  If holds  .40
01[10:47] {@Threei}  half out
01[10:47] {@Threei}  stop .49
01[10:48] {@Threei}  1:1
01[10:51] {@Threei}  Canada is concerned about Russia’s military expansion in the Arctic and is ready to defend its interests in the region using military force, John Baird, Canadian foreign affairs minister, told the Berlingske newspaper Monday.
[10:52] {RonS} gonna draft ese?
01[10:52] {@Threei}  get ready folks... forget Ukraine, soon you'll have to defend Canada from russianinvasion from north
01[10:52] {@Threei}  we do have 3 canadian geese with guns guarding the airspace
01[10:52] {@Threei}  but beyond that, not much
[10:53] {RonS} us to send goose drones to defend artic...
[10:54] {RonS} ese to man green peace boat to defend polar bears...
01[10:54] {@Threei}  he'll drum up support from puffins
01[10:54] {@Threei}  (see what I did there?)
[10:54] {RonS} like it...
01[10:55] {@Threei}  poor ese... stands in picket line and has no idea that we already drafted him
[10:55] {RonS} will be head of class since already knows how to march...
01[10:56] {@Threei}  BKW stop .49 of course
01[10:56] {@Threei}  closed
[10:57] {stillstanding} too fast missed entry.
01[10:57] {@Threei}  hmmm?
[10:57] {nemo} set buy price .02 above break price
01[10:57] {@Threei}  it spent considerable time at .56
01[10:58] {@Threei}  and even returned to it right after break
[10:58] {stillstanding} my fault
01[10:58] {@Threei}  if this kind of entry is problem, I am not sure about that broker of yors
[10:58] {dino} grub sm l .60
[10:59] {dino} qihu sm l .80
[11:00] {stillstanding} i was too slow to enter order..
[11:02] {dino} grub stopped .30 -.30
01[11:04] {@Threei}  BBY SSS decline 2% on weakness in consumer electronics, mobile phones in particular.
01[11:04] {@Threei}  my fault... I still haven't bought any smartphone...
[11:04] {nemo} me neither
01[11:05] {@Threei}  between two of us, BBY has no chance
[11:05] {dino} safm sm l .00
[11:07] {dino} out qihu .27, +.47
01[11:08] {@Threei}  wtg
[11:08] {dino} ty
[11:10] {dino} out safm .40, +.40
[11:17] {stillstanding} twtr l .11
[11:23] {dino} safm sm l .00
[11:23] {dino} out safm .59, +.59
[11:24] {RonS} jumpy chicken?
[11:24] {stillstanding} out twtr .09 -.02
[11:24] {dino} pulp
[11:24] {RonS} lol...pulp chicken
01[11:24] {@Threei}  lol
[11:25] {dino} damn that kept going
[11:32] {stillstanding} WMT l .71
[11:35] {stillstanding} out WMT .71 0.0
01[11:35] {@Threei}  are you generating commissions for your broker?
[11:36] {stillstanding} demo commissions only:)
01[11:36] {@Threei}  doesn't matter really... paper trading should be done the same ad you would do real one, otherwise what's the point
[11:38] {stillstanding} That's the way I would have traded with a live account (paper cuts)
01[11:38] {@Threei}  that's the way to make your broker immensely happy while not adding anything to your own profits
[11:39] {stillstanding} i know. that is why i need to learn.
01[11:45] {@Threei} Short Setup: BKW  .40 break hl
01[11:45] {@Threei}  If holds  .60
[11:46] {dino} kang sm l .82
[11:48] {dino} ann spike
01[11:49] {@Threei}  half out
01[11:50] {@Threei}  .26
[11:50] {dino} ann sm s .65
[11:50] {dino} wide
[11:51] {RonS} ANN to hire $JPM to explore strategic alternatives"
[11:55] {dino} too soon, stopped .04
[11:56] {dino} reload s .55
[11:57] {RonS} michael j fox been wondering where amzn has been?  "@ZacksResearch: Do you think Amazon's buyout of Twitch for a $1 billion is a good investment?
01[11:57] {@Threei}  lol
[11:57] {RonS} sue he would have sold them his for far less...ok...real bad joke...
[11:57] {stillstanding} BKW filled at .38 tried for .21 out at .39 . demo no stops allowed.
[11:58] {nemo} shorted .60 IWM
01[12:02] {@Threei}  [11:49] {@Threei} half out
01[12:02] {@Threei}  [11:50] {@Threei} .26
[12:04] {nemo} target .48 first piece
[12:04] {nemo} .58 stop
[12:11] {stillstanding} long C 52.19
[12:38] {dino} c'mon ann lose 42.00
[12:38] {stillstanding} dino: is that a prayer or a request?
01[12:39] {@Threei}  Ann: lose what?
[12:39] {RonS} at least spelled correctly...ese:  loose....
01[12:39] {@Threei}  that's canadian spelling
[12:41] {stillstanding} out C 52.17 - .02
[12:42] {dino} lol
[12:43] {dino} stillstand, no praying here, that was an order, that was unfortunately disobeyed
01[12:48] {@Threei} Long Setup:  VXX  .75 break
01[12:48] {@Threei}  If holds  .65
01[12:52] {@Threei}  following dino's example... SPY, lose .40!
01[12:54] {@Threei}  with about the same success, eh?
[12:56] {dino} lol
[12:58] {stillstanding} it's only 1 trade of many :)
[12:59] {stillstanding} ez to say on demo
01[13:10] {@Threei}  hmmm... I get from SPY what I wanted (unlike dino from Ann), byt VXX is not in a rush to follow
01[13:11] {@Threei}  sorry dino, I am afraid Ann is just not into you
[13:13] {dino} just broke
01[13:14] {@Threei}  Secret US - Russia talks on Ukraine held in Finland
01[13:15] {@Threei}  no go VXX
[13:17] {dino} out some lci calls from last week, +.70/18%
[13:25] {dino} ann bs to .95
[13:26] {dino} bita, a bit-a crazy last 5 days
[13:28] {dino} cov ann, .95, +.60
[13:39] {nemo} boy are they holding up the IWM today]
01[13:41] {@Threei}  look at the range
01[13:42] {@Threei}  volume too leaves to desire
01[13:54] {@Threei}  (UR) Bilateral talks previously scheduled for today between Ukraine and Russia said to have been cancelled - unsubstantiated tweets citing Ukraine TV
[13:57] {Raven} an "unsubstantiated tweet" - what a world - sheesh
01[13:57] {@Threei}  lol
[14:02] {oka} hello
01[14:02] {@Threei}  hi oka
[14:02] {oka} how do i get to reality trader chat?
[14:02] {nemo} LSD
[14:02] {oka} hi threei
01[14:03] {@Threei}  see private message please
01[14:09] {@Threei}  let's see if nemo's IWM gives us entry on pullback
01[14:10] {@Threei}  btw... notice that small caps outperform SPY
01[14:10] {@Threei}  when does this usually happen?
[14:11] {nemo} bull market and beginning of euphoria
[14:11] {stillstanding} when i am short them?
[14:11] {nemo} risk on dude
01[14:11] {@Threei}  final stages of the bull market
01[14:11] {@Threei}  and lol stillstanding
[14:12] {nemo} they can go for awhile still
[14:12] {nemo} a long while
01[14:12] {@Threei}  oh, of course
01[14:12] {@Threei}  nobody says final stage is hours or days
01[14:13] {@Threei}  and nobody says it's fully here already, it's just one day observation
[14:13] {nemo} probably next spring once in sixth year of Obama's term
01[14:13] {@Threei}  but picture consists of many pieces, so just observing one of them
01[14:16] {@Threei}  forms breakout instead of pullback
01[14:16] {@Threei}  not inclined to trade breakouts right now
[14:16] {nemo} 117 awful tempting
01[14:21] {@Threei}  (UR) Belarus President Lukashenko: Talks on Ukraine agree on a need for de-escalation; Some fundamental differences exist, but having the meeting itself was a success - Putin and Poroshenko agree to have bilateral meeting and said to now be under way
01[14:21] {@Threei}  fundamental differences, eh? like: to shoot at each other or not
[14:24] {nemo} can make an argument for IWM short here
01[14:24] {@Threei}  hmmm
01[14:24] {@Threei}  you are a brave one
01[14:24] {@Threei}  I'd rather leave it to you and wait for a drop to seek long entry
[14:25] {nemo} it hit R2 on daily, iwm short setup, finnies staying under vwap, vxx actually staying above
01[14:25] {@Threei}  but is you want it, then .80 break is your trigger
[14:25] {nemo} spy short setup having trouble with vwap rather
01[14:25] {@Threei}  with .90 stop
01[14:25] {@Threei}  it's a valid trade, just not my cap of tea
[14:26] {nemo} you put tea in your hat?
01[14:26] {@Threei}  spelling nazi
01[14:27] {@Threei}  someone hand me grenade launcher
[14:27] {nemo} better than being a keyboard rabbi
01[14:27] {@Threei}  no... flamethrower
06[14:27] * nemo wonders: "Where did that come from?"
01[14:28] {@Threei}  from that dark space with cobwebs you call your attic?
[14:28] {nemo} oh, I thought it was too much pressure on my brain from sitting so much
01[14:28] {@Threei}  actually your IWM short idea starts looking better
01[14:29] {@Threei}  so maybe you stood up for a min? {G}
[14:29] {nemo} that .81 is key to .10 cents
[14:30] {nemo} Evel Knievel trade
[14:32] {nemo} On May 1, 1984, ABC bought remaining 85% of ESPN it didn't already own from Texaco for $202m; it's now worth $50.8B
[14:37] {nemo} look at that, spy will let go a bit, not IWM
01[14:37] {@Threei}  same thing happened earlier with VXX, remember?
[14:42] {dino} kang stuck, out flat
[14:44] {stillstanding} sold IWM 116.86
[14:49] {stillstanding} out at .91 - .05
[14:50] {nemo} nice tight stop 117 siren call
[14:50] {stillstanding} sold low bought high. i'm good at that
[14:51] {nemo} when it didn't bite on that last setup I saw, I figured they'll look for 117
[14:52] {stillstanding} .89 .90 previous resistance areas.why i went short.
[14:53] {nemo} yeah, but when you're that close to a major level .91 is daily R2 with the whole just above it, need to either set your stop above .91 or the whole...to many magnets for price action here
[14:55] {nemo} some other stuff:  Never short a dull market... Having said that, remember Before I said spy was looking short, well it's recovered, so it's not helping an IWM short
[14:55] {stillstanding} dont look at the R2 stuff but the whole number I do.
[14:55] {nemo} VXX is just bobbing along, and there's no direction to the finnies
[14:56] {nemo} so nothing else in the environment is supporting an IWM short
[14:57] {nemo} SPY volume
[15:01] {stillstanding} IWM l .85
[15:02] {dino} stillstand, use those freestockcharts.com for levels
[15:05] {stillstanding} where would i see that?
[15:06] {dino} freestockcharts.com, you add the levels
[15:08] {nemo} spy slipping
[15:11] {nemo} short .86
[15:11] {nemo} IWM
01[15:11] {@Threei} Long Setup:  FB  .80 break
01[15:11] {@Threei}  If holds  .70
[15:22] {stillstanding} when can we start calling FB names?
[15:22] {nemo} stop to .89
01[15:23] {@Threei}  if and when it stops us out
[15:26] {nemo} stop .82
01[15:28] {@Threei}  oh boy... take a look at this:
01[15:28] {@Threei}  http://www.kyivpost.com/media/images/2014/08/26/p1909bcfmompi130t10mansafk4/big.jpg
[15:28] {nemo} partial .72
[15:29] {RonS} looks like Putin is trying to stop his heart with a stare...
01[15:29] {@Threei}  lol
01[15:31] {@Threei}  good one nemo
[15:31] {nemo} spy and finnies wre looking weak, and if you're gonna get some selling on such an up day, usually after 3
[15:32] {stillstanding} nemo; trying to scare us?
[15:32] {nemo} I don't have to try
[15:32] {stillstanding} 3I not worried
[15:33] {nemo} why would he be
01[15:33] {@Threei}  bear market is my favorite... why would selling scare me
01[15:33] {@Threei}  I can't wait for the bull to be over
[15:33] {stillstanding} wee are long FB
[15:34] {nemo} ahhh
[15:34] {nemo} BOHICA
[15:34] {nemo} stop .80
01[15:35] {@Threei}  thing holds a few cents under day high, not drops with SPY
01[15:35] {@Threei}  why wouldn't we be long
01[15:35] {@Threei}  any market bounce should take it to breakout point and above
01[15:35] {@Threei}  typical salmon
[15:36] {nemo} fb looking iffy
01[15:36] {@Threei}  if market breaks down and stops it, well, this is something built in in any trade
[15:36] {stillstanding} see?
01[15:36] {@Threei}  see what? that a trade might be stopped?
01[15:36] {@Threei}  wow
01[15:37] {@Threei}  never happened before
[15:37] {nemo} yeah I'm Mr. 100%
[15:38] {nemo} yep...100% unadulterated taurine excrement
[15:38] {stillstanding} see nemo saying it looks iffy..
[15:38] {nemo} yeah, after he was in the trade...shit turns
[15:39] {nemo} when he called it you had just had a range, that lifted and formed a higher range, made sense
[15:39] {nemo} and frankly, it's likely to be either a rinse or a range into the close
01[15:43] {@Threei}  brrrreak
01[15:43] {@Threei}  good girl
[15:43] {nemo} see
01[15:43] {@Threei}  half out
01[15:43] {@Threei}  stop .79
01[15:43] {@Threei}  time's pressing
[15:44] {nemo} IWM held on by the proverbial hair
[15:44] {stillstanding} i had a .89 target
01[15:44] {@Threei}  eod, adjust your expectations
01[15:44] {@Threei}  15 min left
01[15:45] {@Threei}  salmons are fragile
[15:45] {stillstanding} all out at .87
[15:48] {dino} calling it a day, thx and gn
01[15:48] {@Threei}  take care dino
01[15:48] {@Threei}  ok
01[15:48] {@Threei}  last chance
01[15:48] {@Threei}  break
01[15:49] {@Threei}  and run
01[15:49] {@Threei}  or fly
01[15:49] {@Threei}  or both
01[15:52] {@Threei}  tick tock
[15:52] {nemo} since you don't have 1:1 I'd declare victory and git
[15:52] {stillstanding} gn thanks all
01[15:53] {@Threei}  take care stst
01[15:53] {@Threei}  (better than \ss, right?)
01[15:53] {@Threei}  I have 1:1
[15:54] {nemo} oh...nevermind  out remainder .74 for me
01[15:54] {@Threei}  out in full.93
01[15:55] {@Threei}  thank you all, have a great evening
01[15:55] {@Threei}  see you tomorrow