Thursday, November 20, 2014

Nov 20 2014

Classic breakout setup, serving as aggressive entry for day high break. That in turn led to an explosive move 

(chart courtesy of broker)

The day continued in the most pleasant way, offering trade after trade adding to the early profits. TWTR served as our ATM of the day, although some other added too.

Session Time: Thu Nov 20 00:00:00 2014
[09:03] {JoebiWan} gm
01[09:07] {@Threei}  jw :)
[09:09] {RonS} howdy y'all
01[09:10] {@Threei}  ron :)
[09:11] {_chasj} gm all
01[09:11] {@Threei}  jw, you downgraded yourself?
01[09:11] {@Threei}  chas :)
[09:13] {dino} gm
01[09:13] {@Threei}  dino :)
[09:21] {jfjf64} gm
01[09:21] {@Threei}  jf :)
01[09:32] {@Threei}  Upside:
01[09:32] {@Threei}  -MAGS +20% (earnings)
01[09:32] {@Threei}  -CZR +12% (considering adjusting largest operating unit into a REIT)
01[09:32] {@Threei}  -WSM +7% (earnings)
01[09:32] {@Threei}  -MBLY +6% (earnings, guidance)
01[09:32] {@Threei}  -BBY +5.6% (earnings)
01[09:32] {@Threei}  -GLOG +4.2% (earnings)
01[09:32] {@Threei}  -PLCE +3.4% (earnings)
01[09:33] {@Threei}  Downside:
01[09:33] {@Threei}  -JMEI -16% (earnings)
01[09:33] {@Threei}  -LOCO -7.2% (priced offering of 6M shares ar $27/shr)
01[09:33] {@Threei}  -RMTI -7.2% (priced 6.5M shares at $9/shr)
01[09:33] {@Threei}  -GPRO -7% (prices 10.4M shares at $75/shr)
01[09:33] {@Threei}  -CRM -3.2% (earnings)
01[09:33] {@Threei}  -GMCR -2% (earnings)
01[09:34] {@Threei} Long Setup:  IWM  .90 break
01[09:34] {@Threei}  If holds  .80
01[09:35] {@Threei}  1:1
01[09:38] {@Threei} Long Setup:  FB  .85 break
01[09:38] {@Threei}  If holds  .75
[09:41] {jfjf64} bby
[09:41] {jfjf64} watchin
[09:41] {jfjf64} dtop
[09:43] {nemo} two more minutes dino
01[09:45] {@Threei} Long Setup:  DAL  44 break
01[09:45] {@Threei}  If holds  .90
01[09:47] {@Threei}  no go
[09:52] {dino} lol nemo
[09:52] {nemo} ;-)
01[09:52] {@Threei}  rinse
[09:52] {dino} 07 scrolling green
01[09:52] {@Threei}  somg
[09:52] {_chasj} dal WAS A NO GO
[09:53] {_chasj} DAL wass a no go should you have gotten in on the rebound
01[09:53] {@Threei}  no
[09:54] {dino} anet smr l .92 hooker
[09:54] {dino} db hl l .09
[09:55] {dino} gild sm l .90
01[09:56] {@Threei} Short Setup: GLD  .60 break
01[09:56] {@Threei}  If holds  .70
01[09:59] {@Threei}  *(US) OCT EXISTING HOME SALES: 5.26M V 5.15ME
01[10:00] {@Threei}  *(US) OCT LEADING INDEX: 0.9% V 0.6%E
01[10:00] {@Threei}  1:1
01[10:00] {@Threei}  1:2
[10:00] {jfjf64} kick in the finn ass
01[10:00] {@Threei}  *(US) NOV PHILADELPHIA FED BUSINESS OUTLOOK: 40.8 V 18.5E
[10:00] {jfjf64} die biatch
[10:01] {dino} out gild .20, +.30
[10:01] {jfjf64} jf little hang over
[10:01] {jfjf64} hanger 1
[10:01] {jfjf64} nice dino
[10:01] {dino} ty
[10:01] {nemo} good stuff
[10:01] {nemo} huh JF?
[10:01] {jfjf64} yes
[10:02] {jfjf64} ya known ya vodka
[10:02] {jfjf64} made with grapes
[10:02] {nemo} I hang out with Russians
[10:02] {jfjf64} who was that in video yest
[10:02] {nemo} russian that makes me drink vodka
[10:03] {jfjf64} part ya Russian crew
[10:03] {nemo} as you can see, it's best to do what he tells you
[10:03] {jfjf64} lol
01[10:03] {@Threei}  1:3
01[10:03] {@Threei}  out
[10:03] {jfjf64} good job
[10:03] {jfjf64} rince job dal
[10:04] {jfjf64} yest too
[10:04] {JoebiWan} ty vad
01[10:04] {@Threei}  yw
01[10:04] {@Threei}  yesterday DAL invalidated
[10:04] {jfjf64} sorry
[10:04] {jfjf64} vg
[10:04] {jfjf64} lol
[10:05] {dino} anet stop ave .63 -.29
[10:06] {jfjf64} gps short40 break
[10:08] {nemo} LVS
01[10:09] {@Threei}  global cost of obesity reached $2T
[10:09] {jfjf64} fat basterds
[10:09] {nemo} yeah, well the global cost of stupidity is immeasurable
01[10:10] {@Threei}  no idea how they calculate that... but I did my part in savings, down 25+ lbs in less than 1 year
[10:10] {RonS} turkey bacon?
01[10:10] {@Threei}  no way
01[10:10] {@Threei}  bacon must come from pig
01[10:10] {@Threei}  it just must
[10:11] {_chasj} starvation?
[10:11] {dino} gj 3i
01[10:11] {@Threei}  kidding? no siongle minute a day do I feel hungry
[10:11] {jfjf64} congrats vg
01[10:11] {@Threei}  ty dino
01[10:12] {@Threei} Long Setup:  TWTR  40 break
[10:12] {jfjf64} getting down to fightin weight
01[10:12] {@Threei}  If holds  .90
[10:13] {dino} out db .03 -.06
01[10:13] {@Threei}  change to .95
01[10:15] {@Threei}  If holds  .88
01[10:18] {@Threei}  half out
01[10:18] {@Threei}  stop to .94
01[10:24] {@Threei}  1/4 more out
01[10:24] {@Threei}  stop to .99
01[10:26] {@Threei}  to .04 now
[10:34] {jfjf64} fb hod
[10:34] {_chasj} 3i still in TWTR?
01[10:37] {@Threei}  1/4, yes
01[10:42] {@Threei}  closed
[10:43] {_chasj} 3i, you really milk the co
[10:43] {JoebiWan} gj twtr
01[10:45] {@Threei}  that's what cow is for, right?
[10:46] {dino} bofi smr l .88 thinny
[10:55] {_chasj} was it just me, did anyone else lose the connection?
01[10:55] {@Threei}  no... we are fine
[10:56] {_chasj} trouble 2 day now
[11:16] {RonS} what bs...  Government scientists say average ocean and land temperatures for October were highest since record keeping began in 1880
01[11:16] {@Threei}  lol
[11:16] {nemo} did they say what planet?
[11:16] {_chasj} go tell that to Buffalonians
[11:18] {JoebiWan} lol nemo
01[11:18] {@Threei} Long Setup:  TWTR  .10 break
01[11:18] {@Threei}  If holds  40
[11:19] {nemo} aapl setting up for higher
[11:19] {nemo} market can't come in unless it does
[11:25] {nemo} Hah, this is next town over from me:
01[11:25] {@Threei}  lol
[11:25] {JoebiWan} wow
[11:25] {nemo} the one to the right used to be a Karvel ice cream store
[11:27] {nemo} I actually hunt behind that apartment backs up to an office park that is heavily wooded
01[11:28] {@Threei}  break .20 and fly, TWTR
01[11:28] {@Threei}  1:1
[11:29] {JoebiWan} youve done this before, i see
01[11:30] {@Threei}  couple times
[11:30] {RonS} awkward... Montana now the the 34th U.S. state to legalize gay marriage with South Carolina to come
01[11:30] {@Threei}  lol
01[11:30] {@Threei}  1:2
[11:30] {nemo} When can I marry sheep?
[11:31] {RonS} ...searching for Daisy?
[11:32] {nemo} I'm into pedophilia I want the lambs
[11:32] {JoebiWan} out twtr. great trade vad ty
[11:32] {nemo} or is that just veal?
01[11:32] {@Threei}  1:3
01[11:32] {@Threei}  yw
[11:33] {nemo} probably going to .60ish
[11:35] {nemo} indexes next leg up looks like
[11:36] {nemo} aapl
[11:36] {_chasj} nemo my political buddie, your right
[11:36] {nemo} about what?
[11:37] {_chasj} 60ish
[11:37] {nemo} oh aapl coming in
[11:37] {nemo} I'm actually relatively apolitical, I just study it as a byproduct of my other stuff
[11:37] {_chasj} thought you were still watching twtr
[11:38] {nemo} might be worth shorting the indexes here
[11:39] {nemo} see the doji two days ago, it's low was .60ish
[11:39] {nemo} figured it would get about there
01[11:39] {@Threei}  illustration to thinking behind the trade:
01[11:39] {@Threei}  welll... rather "weird process in me that goes for thinking"
[11:40] {dino} bofi to .92
[11:41] {cosmo} Are those B-Bands?
[11:41] {nemo} yep
01[11:41] {@Threei}  yeah
[11:42] {dino} to .25
[11:43] {_chasj} 3i, whats your settings on B Bands?
[11:43] {nemo} 13 1.7
[11:43] {dino} don't use them
[11:43] {_chasj} thanks
01[11:43] {@Threei}  what nemo said
[11:43] {nemo} no....
[11:43] {nemo} what I wrote
01[11:43] {@Threei}  that's for 1 min chart
[11:43] {nemo} or typed
01[11:43] {@Threei}  for daily use standard 20/2
[11:44] {_chasj} ty
[11:48] {_chasj} I watch 5 charts 1,5,15,60 & day.  Too many?
01[11:49] {@Threei}  to me, way too many
01[11:49] {@Threei}  sk yourself what they add
[11:49] {dino} out bofi ave .99, +1.11
01[11:49] {@Threei}  do you see on all of them something that you wouldn't on just 1 min and daily?
[11:49] {JoebiWan} gj dino
[11:49] {dino} ty, bad slip
01[11:50] {@Threei}  wtg
[11:50] {_chasj} I was taught that way but since been in your room have only been watching about 3
[11:51] {dino} dds spike
[11:52] {dino} vsm s .42
[11:54] {dino} stop .68 -.26
[11:54] {dino} shit, rinsed
[11:55] {dino} smr s .40
[11:56] {dino} cov .80, +.60
01[11:57] {@Threei}  there is plenty of unneeded crap being taught by various people
01[11:57] {@Threei}  do they demonstrate their stuff working profitably, day in day out, as we do here?
[11:58] {dino} k.i.s.s. method here
[11:58] {_chasj} He is profitable but does not get as many right as you
01[11:59] {@Threei}  hey... if he is profitable, that's already an achievement... most of them are just fraud, plain and simple :)
[12:00] {dino} smr s dds .17
[12:01] {dino} stop .28 -.11. it tasks me
[12:01] {_chasj} gets about 1/2 right but by putting good stops in and getting out as you do 1:2 1
[12:02] {RonS} Marcato: Plan Would Value Cos at Combined $193 Per Shr }DDS
[12:02] {dino} thx ron
[12:02] {_chasj} 1:3
[12:02] {RonS} Marcato: Dillard's 'Could Unlock Tremendous Value' With REIT Spinoff
01[12:22] {@Threei}  The Philly Fed's manufacturing outlook crushed expectations and delivered the highest headline figure since December 1993. Expectations of 18.5 were down slightly from last month's 20.7 reading. The new orders index rose 18 points to 35.7. Analysts note that the striking numbers runs counter to other surveys this month, with both the Empire State manufacturing report and flash PMI reports coming in mixed. Others note the series has had spikes followed by big revisions in the past.
[12:22] {nemo} oh jeez, Pats signed LeGarrette Blount
01[12:23] {@Threei}  The October existing home sales pushed out to a one-year high of 5.26 million units, while the supply of homes on the market fell to a seven-month low of 5.1 months equivalent.
01[12:23] {@Threei}  this last one was btw one of the reasons behind our GLD short trade
01[12:24] {@Threei}  by all other numbers in this venue I expected this one to be good, and GLD works as a fade to SPY these days
01[12:24] {@Threei}  so shorting it near its low right in front of the housing numbers made perfect sense to me
01[12:24] {@Threei}  both technical setup and fundamentals came together for a nice juicy trade
01[12:31] {@Threei} Long Setup:  IWM  116 break
01[12:31] {@Threei}  If holds  .90
01[12:33] {@Threei}  1:1
[12:35] {nemo} BABA
[12:38] {RonS} practicing for the sheep, eh?
[12:38] {nemo} not bad
[12:38] {nemo} ron showing some flexibility beyond his usual Ronisms
01[12:49] {@Threei} Short Setup: TWTR  .10 break
01[12:50] {@Threei}  If holds  .20
01[12:50] {@Threei}  ugh... late alert by a second
[12:50] {nemo} frickin' JPM
01[12:51] {@Threei}  ok, in on bounce
[12:55] {dino} zayo spike
01[13:01] {@Threei}  1:1
01[13:01] {@Threei}  1:2
[13:02] {nemo} aapl going
[13:38] {nemo} CRM
[13:38] {nemo} popped
[13:38] {nemo} too late
[13:46] {_chasj} because my little man in the chatting box is green, does that signify me as a rookie?
[13:46] {nemo} no...that's in your settings
[13:47] {nemo} I think pink would be more your color
[13:47] {dino} lol
[13:47] {jfjf64} lol
[13:47] {_chasj} thanks buddie
[13:48] {_chasj} I could wear my wife's pink blouse
06[13:48] * @Threei hands chas 2x4 sized as 4x6, about 2 yards long, and suggests using it on nemo anytime he please
[13:48] {_chasj} lol
06[13:49] * nemo unholsters the P229 loaded with Glasers
06[13:49] * nemo thinks, "It's about this time, Vad hands the rocket launcher to chasj."
01[13:49] {@Threei}  I prefer Grad
[13:50] {_chasj} thats a laugh
01[13:50] {@Threei}  much more effective
[13:50] {jfjf64} oh boy
01[13:50] {@Threei}  some collateral damage is inevitable but...
[13:50] {nemo} gotta' break some eggs
01[13:51] {@Threei}
[13:51] {_chasj} breaks the monotony
01[13:51] {@Threei}  the nickname grad means "hail"
01[13:51] {@Threei}  hail from hell
[13:51] {nemo} oh great Katyushas...gotta' carpet rocket them
[13:52] {jfjf64} lotta use
01[13:52] {@Threei}  it's a grandson of katusha
[13:52] {nemo} yeah, runs without guidance
[13:53] {nemo} WDC
[13:53] {nemo} a bit thin
[13:53] {nemo} look at that daily though
[13:54] {jfjf64} have another shot nemo
[13:54] {jfjf64} startin to see things
[13:54] {nemo} mmmhhhh...have to handle weapons soon
[13:54] {nemo} that's a frickin' C&H on the daily jf
[13:55] {jfjf64} salute
[13:57] {nemo} I need to take up knitting, or needlepoint
[13:58] {JoebiWan} you could borrow that blouse from chas
[13:58] {nemo} and do what with it?
[13:58] {jfjf64} was thinkin same
[13:58] {nemo} scary padawan, you think like JF...time to fall on your light saber
[13:59] {JoebiWan} lol
01[13:59] {@Threei}  and chas's wife will have legit excuse for new wardrobe shopping
[13:59] {nemo} IWM new highs
01[13:59] {@Threei}  everyone wins
[14:00] {_chasj} you can have the blouse i don't fill it out in front
[14:00] {nemo} toilet paper chas
01[14:00] {@Threei}  this is an image in my head I didn't need at all
[14:00] {_chasj} lol
[14:00] {nemo} slow markets are not good for my mental health
01[14:02] {@Threei}  as if anything is
[14:03] {_chasj} my wife does not need an excuse
01[14:04] {@Threei}  they ususally don't
[14:05] {_chasj} she finds things in closet she has never worn
[14:07] {dino} toilet paper, that reminds me of the wife that wanted a boob enlargement. husband says, just rub tp on your boobs, it worked on your ass
[14:08] {jfjf64} hehe
01[14:12] {@Threei} Long Setup:  TWTR  .90 break
01[14:12] {@Threei}  If holds  .85
[14:12] {nemo} BABA looks long here
[14:19] {jfjf64} dal
[14:19] {jfjf64} lod
01[14:20] {@Threei}  1:1
[14:22] {nemo} FB
01[14:26] {@Threei}  1:2
01[14:27] {@Threei}  TWTR is our ATM today
[14:28] {JoebiWan} right on vad, great day
01[14:29] {@Threei}  yeah, we work with irritating consistency
[14:45] {dino} rax spike
[14:46] {nemo} buyout rumor probably
01[14:48] {@Threei}  [RAX] Ticks higher on circulation of previously reported news that Jana Partners has taken a stake
01[14:48] {@Threei} Long Setup:  VXX  .50 break
01[14:48] {@Threei}  If holds  .40
[14:54] {nemo} IWM
01[15:02] {@Threei}  1:1
[15:14] {dino} cyt drop
[15:15] {dino} damn, i'm too slow today
[15:15] {nemo} this action will lull you to sleep
[15:16] {jfjf64} what ya using stop vg
[15:16] {nemo} after 1:1 usually entry
[15:17] {jfjf64} ty vg
[15:17] {jfjf64} .55 looked support
[15:18] {nemo} yeah, however, wouldn't be unusual for it to test just below "obvious" support levels and still above your entry
01[15:19] {@Threei}  .49 for now
[15:19] {_chasj} what is usually entry?
01[15:19] {@Threei}  but after ,65 break, yes, I'd trail to .54
[15:19] {nemo} this may be the afternoon ramp
01[15:20] {@Threei}  he means that usually we trail to the entry point after partialling at 1:1
[15:21] {jfjf64} ofcourse while wearing pink shirt
[15:21] {_chasj} ty VG
[15:21] {_chasj} lol
[15:21] {jfjf64} lol
01[15:21] {@Threei}  well... if you are allergic to pink, tutu will do too
[15:22] {_chasj} can't dance
[15:22] {jfjf64} nemo likes wearing tutu  correct
01[15:22] {@Threei}  and nemo was spotted once wearing ballet point shoes
01[15:22] {@Threei}  pointe
01[15:22] {@Threei}  don't have to dance... just wear
01[15:23] {@Threei}  although rain dance sometimes helps stocks move
01[15:23] {@Threei}  just as chicken entrails, human sacrifice or bringing finest wines and cheeses
[15:23] {_chasj} i3 now I've got to buy your other book !!!
[15:24] {nemo} never thought of Vad as an aaple product
01[15:24] {@Threei}  TTR you mean?
01[15:25] {@Threei}  I fond it hard to believe anyone involved in trading wtill wouldn't read it
01[15:25] {@Threei}  find
01[15:25] {@Threei}  still
01[15:25] {@Threei}  jeez
[15:26] {jfjf64} no die mkt
[15:29] {_chasj} did not know the name of it, yes TTR
[15:29] {jfjf64} or if ya prefer TUTU
01[15:30] {@Threei}  ever after ese story I call it "one worth 120 other trading books"
[15:31] {jfjf64} IM GONNA FLY
[15:31] {jfjf64} SEE ALL TOMMOROW
[15:31] {jfjf64} ty vg
01[15:31] {@Threei}  easy on mushrooms
01[15:31] {@Threei}  yw :)
[15:31] {jfjf64} Portobello
[15:31] {dino} cya jf
[15:31] {jfjf64} nice shrooms
[15:31] {jfjf64} cya dino
[15:32] {_chasj} thanks VG, tomorrow
01[15:32] {@Threei}  :)
[15:32] {JoebiWan} bye all good day
[15:32] {JoebiWan} ty
01[15:32] {@Threei}  what's with mass exodus... can I go home too?
[15:32] {dino} cya chas, joe
[15:33] {dino} thought you were home 13
[15:33] {_chasj} adios
[15:33] {nemo} vaya con diablo
[15:34] {_chasj} gracias time ffor a modelo
01[15:36] {@Threei}  OK guys, thank you all
01[15:36] {@Threei}  have a great evening, see you tomorrow