Wednesday, March 18, 2015

Mar 18 2015

That was a very unusual day. Started with a few stops, and it seemed like waiting for FOMC made it untradable. Every trade after the Fed was profitable though, from 1:2 to 1:4, and finished the day positive. No complaints.

Session Time: Wed Mar 18 00:00:00 2015
01[09:11] {@Threei}  morning guys
01[09:12] {@Threei}  we managed to finish mini-vacation on Fed day, lol
[09:12] {RonS} hello...ya...
[09:13] {RonS} dino is a bad planner...
01[09:14] {@Threei}  unless it's all a part of a bigger plan, and he decided to stay on Jamaica forever
01[09:19] {@Threei}  maybe sending him a booklet Expats in Jamaica was not the best idea
[09:21] {cosmo} hmm, maybe Jamaica needs a good NFL team
[09:21] {cosmo} they can have the Chargers, btw
01[09:28] {@Threei}  Upside:
01[09:28] {@Threei}  -RTRX +38% (FDA approved Cholbam for rare bile acid synthesis disorders)
01[09:28] {@Threei}  -VTSS +37% (being acquired by MSCC for $5.28/shr)
01[09:28] {@Threei}  -ZQK +9% (earnings)
01[09:28] {@Threei}  -EJ +5% (earnings)
01[09:28] {@Threei}  -HLF +4% (LA Federal judge dismissed shareholders' pyramid scheme suit)
01[09:28] {@Threei}  -ORCL +2.6% (earnings)
01[09:28] {@Threei}  -MU +1.7% (positive broker commentary)
01[09:28] {@Threei}  Downside:
01[09:28] {@Threei}  -NKTR -15% (NKTR-102 Phase 3 study showed no statistical significance in survivability)
01[09:28] {@Threei}  -ADBE -5% (earnings)
01[09:28] {@Threei}  -CYTX -4.5% (amended securities purchase agreement)
01[09:28] {@Threei}  -ANTH -3.4% (priced 5.55M shares at $4.50/shr)
01[09:28] {@Threei}  -FDX -2% (earnings)
01[09:28] {@Threei}  -DRYS -1.5% (filed $1B mixed securities shelf and $180M secondary offering)
01[09:28] {@Threei}  -STJ -1% (negative broker commentary)
01[09:30] {@Threei}  dino... suntan must be an inch deep by now!
[09:31] {dino} lol, gm all, back at my turret. hope you did well while i was away
01[09:31] {@Threei}  we took vacation too
01[09:32] {@Threei} Long Setup:  VXX  .55 break
01[09:32] {@Threei}  If holds  .45
[09:33] {dino} see my veev calls sold while away, +.60/34%
01[09:34] {@Threei}  sheesh... he gets suntan and makes money
01[09:34] {@Threei}  borders with total indecency
[09:38] {dino} lucky
01[09:39] {@Threei} Long Setup:  FB  .80 break
01[09:39] {@Threei}  If holds  .70
01[09:39] {@Threei}  no go VXX
01[09:42] {@Threei}  grrr
01[09:44] {@Threei} Short Setup: JPM  .40 break
01[09:44] {@Threei}  If holds  .50
01[09:49] {@Threei}  stop to .46
[09:52] {dino} irbt sm l .31
[09:56] {dino} lcrx sm l .95
01[09:56] {@Threei} Long Setup:  MCD  .55 break
01[09:56] {@Threei}  that was too fast
[09:56] {dino} why is nktr holding
01[09:56] {@Threei}  teleported to above 1:1
[09:57] {dino} lrcx that was
01[10:04] {@Threei} Long Setup:  FB  .50 break
01[10:04] {@Threei}  If holds  .40
01[10:10] {@Threei}  not getting rhythm right
[10:10] {dino} ;lrcx stop .65 -.30
01[10:15] {@Threei} Long Setup:  BP  .30 break
01[10:15] {@Threei}  If holds  .20
[10:16] {RonS} unconfirmed chatter from london desks cvx to buy bp for $48/sh
01[10:19] {@Threei}  (SA) Saudi prince Turki al-Faisal: Saudi Arabia won't interfere in the oil market any time soon
01[10:19] {@Threei}  Putin: you bastard...
01[10:30] {@Threei}  *(US) DOE CRUDE: +9.6M V +4.0ME
[10:32] {dino} mmi drop
[10:32] {dino} sm l .86
01[10:39] {@Threei} Long Setup:  VXX  .50 break
01[10:39] {@Threei}  If holds  .40
01[10:42] {@Threei}  General Motors will slash production in Russia and pull its mass-market Opel brand completely in the face of plummeting sales in the economically troubled country.
01[10:43] {@Threei}  ok, this is sad... I say let's sell as many GM cars over there as possible
[10:43] {dino} out mmi .20, +.34
[10:43] {cosmo} Why GM?
01[10:44] {@Threei}  because they are crap?
[10:45] {cosmo} ...and russia could be like cuba
[10:45] {cosmo} about cars anyway
01[10:45] {@Threei}  sans palm trees
[10:46] {cosmo} = cell phone tower trees maybe?
01[10:47] {@Threei}  masked as birch trees
01[10:47] {@Threei}  Invalidated  VXX
[10:53] {RonS} dino, look at that espr...been crazy and today really unreal as they announced coming w/ secondary last night w/ no price set...never seen anything like it
[10:53] {dino} ok
[10:53] {dino} wow +30 in 5 dats
[10:54] {RonS} not really suggesting you trade it...just interesting
[10:54] {dino} days
[10:55] {dino} phase 2 pos results
[10:56] {RonS} hearing pac crest defending lrcx...prob getting this late...
01[11:00] {@Threei}  no, 10:55
01[11:00] {@Threei} Long Setup:  IWM  .60 break
01[11:01] {@Threei}  If holds  .50
[11:01] {dino} spxl sm l .87
[11:02] {dino} espr just up, not trading it
01[11:04] {@Threei}  WLL Hearing chatter that WLL receiving strong bids as it explores options
01[11:04] {@Threei}  no go
01[11:04] {@Threei}  this fed day is not mine
[11:11] {RonS} hearing China Times reporting fb approval imminent by govt
01[11:12] {@Threei}  FB Reportedly Chinese regulators are preparing to approve Facebook in China
01[11:12] {@Threei}  Link:
[11:13] {RonS}'s in Chinese
01[11:13] {@Threei}  sorry... :)
[11:13] {RonS} Homer Simpson...Doh!
01[11:14] {@Threei}  hehe
01[11:15] {@Threei}  FB is running
[11:15] {dino} stop spxl .68 -.19
[11:15] {dino} took .01 fb off your comment
01[11:16] {@Threei}  wtg
[11:16] {dino} fb to .49
[11:17] {dino} to .56
[11:17] {dino} out .55, +.54
[11:17] {dino} ty 3i
01[11:18] {@Threei}  :)
[11:20] {dino} taking a break
[11:30] {RonS} ocn pending
01[11:54] {@Threei}  [OCN] Intends to Sell $9.6B Portfolio of Mortgage Servicing Rights to Green Tree (WAC) - WAC signed an agreement in principle for the sale by Ocwen of residential mortgage servicing rights on a portfolio consisting of approximately 55,500 largely performing loans owned by Freddie Mac with a total principal balance of approximately $9.6 billion.
01[11:55] {@Threei} Long Setup:  VXX  .60 break
01[11:55] {@Threei}  If holds  .50
01[12:07] {@Threei}  Equity trading volumes are subdued this morning and equities are in the red as participants await the Fed statement and Yellen's press conference later this afternoon.
01[12:08] {@Threei}  WTI crude stabbed toward $42 before ahead of the DoE inventory report this morning, and trading was volatile on release of the data. Inventories builds were more than twice the expected amount. Last night the API report disclosed the biggest build in inventories in four weeks. Brent has edged higher during the US session, rising to around $54.50 from below $53 earlier.
01[12:13] {@Threei}  I severely dislike today
01[12:29] {@Threei} Short Setup: FB  80 break
01[12:29] {@Threei}  If holds  .10
01[12:33] {@Threei}  Invalidated
01[12:44] {@Threei}  valid again
01[12:47] {@Threei}  sheesh... bid held
01[12:48] {@Threei}  A NATO patrol intercepted Russian fighter jets over the Baltic Sea, Lithuanian authorities said on March 18
01[12:50] {@Threei}  (CA) Canada PM Harper: Very carefully observing lending levels in housing market, not planning any immediate action right now - Canadian banks remain well capitalized
01[12:50] {@Threei}  what is the best 5 years fixed rate from major banks in US right now?
[12:51] {RonS} about 2.2%
01[12:55] {@Threei}  that's low... our best is 2.79
01[13:07] {@Threei}  took scalp on FB
01[13:07] {@Threei}  needed something to qork
01[13:07] {@Threei}  work too
[13:30] {dino} .
[13:32] {RonS} ll jiggy...sbux up on 2:1 split announcement
[13:35] {dino} was just looking at ll
[13:41] {dino} out irbt .77, +.47
01[13:44] {@Threei}  wtg
[13:44] {dino} ty, took all day
01[13:45] {@Threei}  (IS) White House is reportedly planning to re-evaluate peace strategy for the Middle East
01[13:45] {@Threei}  as in, get some?
[13:45] {dino} lol
[13:49] {RonS} gawd, can you imagine Hillary as Prez?...she looks so tired and old...ugliest thing since Golda Meir but Golda never looked tired
[13:50] {dino} she looks like she could be on the walking dead
[13:50] {RonS} lol
[13:50] {RonS} perfect
01[13:53] {@Threei}  well... will reps come up with someone who could win?
[13:55] {RonS} import Bibi?
01[13:55] {@Threei}  lol
01[13:55] {@Threei}  or at leats hire him as a campaign manager
[13:56] {dino} 3i, i don't think they can get anybod that can beat the liberal media coverage
01[13:59] {@Threei}  so... we are doomed for another 8 years?
01[13:59] {@Threei}  TSLA New Jersey Gov Christie to sign bill authorizing Tesla direct sales
01[14:01] {@Threei}  The Committee currently anticipates that, even after employment and inflation are near mandate-consistent levels, economic conditions may, for some time, warrant keeping the target federal funds rate below levels the Committee views as normal in the longer run.
01[14:02] {@Threei} Long Setup:  VXX  .60 break
01[14:03] {@Threei}  If holds  .50
01[14:03] {@Threei}  1:1
01[14:04] {@Threei}  1:2
[14:04] {dino} w/you
[14:05] {dino} 8 years, no, hillary won't live that long, looks like shes 90 now
[14:05] {dino} out vxx .85, +.24
01[14:05] {@Threei}  1:3
01[14:06] {@Threei}  finally something decent
[14:09] {dino} wow 250 point swing
[14:09] {RonS} now that she has been removed, where will Patience go?
01[14:13] {@Threei} Long Setup:  VXX  .50 break
01[14:13] {@Threei}  If holds  .40
01[14:13] {@Threei}  change to .40 break
[14:14] {dino} vxx banging s3
[14:15] {RonS} tick +1341
01[14:16] {@Threei}  change to .30 break
01[14:16] {@Threei}  If holds  .20
01[14:19] {@Threei}  Janus' Bill Gross: New key word in Fed policy statement is "prudence"; Somewhat surprised by the more dovish statement - CNBC
[14:20] {RonS} isn't that patience sister?
[14:20] {dino} thats just gross
01[14:20] {@Threei}  lol
01[14:20] {@Threei}  Comparative analysis of current vs Jan FOMC statements: Drops "patient", rates now dependent on employment and inflation data; Revises down economic growth language; gives nod to strong dollar by noting weaker exports; indicates inflation has likely bottomed out; says explicitly no rate hike in April
01[14:21] {@Threei}  gravity time, SPY
01[14:21] {@Threei}  IMO, this whole "language change" thing is overestimated
[14:22] {dino} vxx l .35
[14:22] {RonS} ya think...amazing after 2000 years we still listen to an Oracle of Delphi
01[14:23] {@Threei}  lol
01[14:23] {@Threei}  1:1
01[14:23] {@Threei}  1:2
[14:23] {dino} out vxx .49, +.14
[14:24] {dino} strong $ and every other country weakening, how can they raise
[14:24] {RonS} crude explede to $46.65, now .35
[14:24] {dino} will put us out of business
01[14:24] {@Threei}  doubt they will
[14:29] {RonS} someone bought $3 mil of UUP puts yesterday...getting paid in spades with this $ weakness
[14:30] {RonS} yellen commences
[14:31] {RonS} wow espr 106
[14:32] {RonS} lol...oh no..."says removing patient does't mean fed to ne impatient"
[14:32] {RonS} -n +b
01[14:33] {@Threei}  lol
[14:34] {RonS} poor Greeks...went to Oracle...always came back
[14:34] {dino} lol
01[14:36] {@Threei} Short Setup: FB  81 break
01[14:36] {@Threei}  If holds  .10
[14:38] {RonS} hearing large call buying now vix in apr 17 calls
01[14:41] {@Threei}  1:1
01[14:42] {@Threei}  that's one weird day... usually things work before Fed, become unreadable after. Today is just thwe opposite
[14:44] {dino} gotta hop for 45, back around 3:30
01[14:45] {@Threei}  some suntan touch-up?
01[14:49] {@Threei}  1:2
[14:55] {RonS} good one
[14:58] {RonS} wow espr new hod 108.50
01[14:58] {@Threei}  ty'
01[15:01] {@Threei} Long Setup:  IWM  .50 break
01[15:02] {@Threei}  If holds  .40
01[15:04] {@Threei}  1:1
01[15:05] {@Threei}  1:2
01[15:05] {@Threei}  (close enough)
01[15:05] {@Threei}  fixed the day, lol
01[15:12] {@Threei}  out .95
01[15:15] {@Threei}  too soon
[15:15] {RonS} wow
[15:24] {dino} .
[15:25] {cosmo} good point
01[15:26] {@Threei} Long Setup:  VXX  .05 break
01[15:32] {@Threei}  half out
01[15:33] {@Threei}  1:1
01[15:38] {@Threei}  1:2
[15:38] {dino} vxx hit 52 week low today
[15:38] {RonS} good enough, out...thanks 3i
01[15:39] {@Threei}  :)
[15:39] {RonS} hearing more vix call buying apr and june 16 and 17
[15:40] {RonS} need to leave...see all tomorrow
[15:41] {dino} ron leaves so fast, its like he's skipping out on a dinner check
01[15:41] {@Threei}  lol
01[15:41] {@Threei}  OK, finishing here
01[15:42] {@Threei}  have a good evening, see you tomorrow