Friday, May 22, 2015

May 22 2015

Decent morning after which we took long weekend early. Two nice longs on IWM for 1:4 and FB for 1:2 at the end helped nicely.


Session Time: Fri May 22 00:00:01 2015
[09:26] {nemo} suprisingly good spy volume this morning
01[09:27] {@Threei}  market is happy to see any drop
[09:27] {jfjf64} Morni
01[09:27] {@Threei}  jf :)
01[09:28] {@Threei}  Upside:
01[09:28] {@Threei}  -LONG +35% (completed sale of its 62.4% stake in company for a total of $671M)
01[09:28] {@Threei}  -ONTY +22% (Feuerstein mailbag citing potential on ONTY's ONT-380 if data at ASCO is positive)
01[09:28] {@Threei}  -EROC +16% (said to be acquired by Vanguard Natural Partners for $614M)
01[09:28] {@Threei}  -FRO +7.3% (container freight rates for Asia to Northern Europe said to see largest decline since '08)
01[09:28] {@Threei}  -CTRP +6% (LONG deal)
01[09:28] {@Threei}  -SGYP +5.6% (positive broker commentary)
01[09:28] {@Threei}  -QURE +5.6% (positive broker commentary)
01[09:28] {@Threei}  -TNP +5% (earnings)
01[09:28] {@Threei}  -SHAK +4% (company reportedly looking to open a chain of chicken restaurants)
01[09:28] {@Threei}  Downside:
01[09:28] {@Threei}  -OTIC -20% (reported Phase 2b topline data for OTO-104 in Meniere's disease)
01[09:28] {@Threei}  -VGGL -17% (priced 3.63M shares at $2.50/shr)
01[09:28] {@Threei}  -ISR -10% (hearing company attempted to raise funds yesterday)
01[09:28] {@Threei}  -NVEE -5% (prices 1.43M share offering at $19.50/shr)
01[09:28] {@Threei}  -HIBB -3.7% (earnings)
01[09:32] {@Threei} Short Setup: FB  .40 break
01[09:32] {@Threei}  If holds  .50
01[09:34] {@Threei}  1:1
01[09:37] {@Threei} Long Setup:  IWM  .85 break
01[09:37] {@Threei}  If holds  .75
01[09:39] {@Threei}  1:1
01[09:51] {@Threei} Long Setup:  FB  .70 break
01[09:51] {@Threei}  If holds  .60
01[09:54] {@Threei}  Invalidated
01[09:57] {@Threei}  1:2  IWM
[10:07] {nemo} aapl driving indexes
01[10:12] {@Threei} Long Setup:  FB  .60 break
01[10:12] {@Threei}  If holds  .50
[10:12] {nemo} whoa
01[10:14] {@Threei}  1:1
01[10:14] {@Threei}  1:2
[10:15] {nemo} blew right by my entry
01[10:15] {@Threei}  [YHOO] Ticking higher on China press speculation that BABA could seek to acquire the company to avoid issues related to IRS spin off scrutiny
01[10:16] {@Threei}  YHOO span off BABA... BABA ate YHOO...
01[10:16] {@Threei}  something biblical about that
[10:31] {cosmo} snake eats it tail
[10:31] {cosmo} its
[10:31] {jfjf64} Dgx
[10:31] {jfjf64} Para
01[10:31] {@Threei}  what happens if it chews toward the head?
[10:32] {cosmo} tail eats it's head...hmm
[10:34] {jfjf64} Halted
[10:37] {drewj} Is dino golfing again?
01[10:38] {@Threei}  15:55] {dino} taking tomorrow off, see you tuesday
[10:38] {drewj} Vad CAT long?
01[10:38] {@Threei}  can't tell
01[10:39] {@Threei}  chart looks good by itself,
01[10:39] {@Threei}  but I am not delighted by it in context of general market
[10:39] {drewj} ok
01[10:39] {@Threei}  SPY is at day's high,
01[10:39] {@Threei}  CAT is barely raisning from the low
[10:39] {drewj} So it's weak
[10:54] {drewj} Vad when would you look for a reversal then?
[10:54] {drewj} In context of the whole market
01[10:55] {@Threei}  when setup presents itself
01[10:55] {@Threei}  so far nothing happens
[10:56] {drewj} right but how does the setup relate to the context of the market?
01[10:56] {@Threei}  for instance:
01[10:57] {@Threei}  CAT stays near low while market goes up, market pulls back, CAT breaks the low - here is my short setup
[10:57] {drewj} So weak stock on market weakeness
[10:57] {drewj} strong stock on market strength
01[10:57] {@Threei}  yup
[10:58] {drewj} nice...so simple
[10:58] {drewj} yet......hard to see
[10:58] {drewj} so that's why you stay away from stand alone setups
01[10:59] {@Threei}  well, not entirely, sometimes they can be of use,
01[10:59] {@Threei}  but for the most part, yes, market provides support
01[11:00] {@Threei}  and guidance
[11:00] {drewj} those tend to need extra momentum right?
[11:00] {drewj} that's how dino does his thing
01[11:00] {@Threei}  I'd say, different source of momentum
[11:00] {drewj} like news
01[11:00] {@Threei}  news for instance
[11:00] {drewj} excellent boss!
[11:01] {drewj} Finally makes sense to me
[11:01] {drewj} sheesh
[11:01] {drewj} took long enough
[11:16] {jfjf64} Fb bounce here
[11:16] {jfjf64} .85
01[11:17] {@Threei}  good one
[11:18] {jfjf64} Quick 10 cents
[11:19] {jfjf64} Mkt ??
[11:22] {jfjf64} Watchin tmus
01[11:27] {@Threei} Long Setup:  VXX  .70 breajk
01[11:30] {@Threei}  If holds  .65
01[11:42] {@Threei}  meh
[11:45] {jfjf64} Iwm .30
[11:45] {jfjf64} My last play
01[11:47] {@Threei} Long Setup:  FB  .05 break
01[11:47] {@Threei}  If holds  .95
[11:50] {jfjf64} Iwm
[11:59] {jfjf64} Finally 1:1
[11:59] {jfjf64} Let's go fb
01[12:05] {@Threei}  1:1
01[12:07] {@Threei}  DGX Refuses comment on rumors or speculation
01[12:08] {@Threei}  IWM 1:2
01[12:09] {@Threei}  1:2
01[12:12] {@Threei}  IWM 1:4
01[12:12] {@Threei}  got this drive right, eh jf?
01[12:13] {@Threei}  The euro took another big leg lower this morning on reports that German Finance Minister Schaeuble discussed the possibility of a parallel currency for Greece in a private discussion
01[12:13] {@Threei}  man...
01[12:13] {@Threei}  there is parallel currency... called drahma
[12:31] {jfjf64} Yes
[12:31] {jfjf64} Nice iwm
[12:31] {jfjf64} Nice fb
[12:32] {jfjf64} Yoku break here
[12:32] {jfjf64} Try
[12:33] {jfjf64} Any takers
[12:35] {jfjf64} Roast pork lo mein tonight
[12:35] {jfjf64} Ty yoku
01[12:35] {@Threei}  lol
[12:36] {jfjf64} They have good Chinese food in victoria
01[12:37] {@Threei}  by reviews, yes
01[12:37] {@Threei}  no my own experience, I am not too keen on chinese
[12:38] {jfjf64} I enjoy it
[12:40] {jfjf64} Ci s .60
[12:40] {jfjf64} .70 break
[12:41] {jfjf64} Nope
[12:45] {jfjf64} .90
[12:45] {jfjf64} Last try
[12:46] {jfjf64} Meh
[12:47] {jfjf64} Done enjoy weekend all
01[12:47] {@Threei}  see you Tiesday jf
[12:47] {jfjf64} Yes
01[12:47] {@Threei}  ok guys, ready for long weekend?
[12:47] {jfjf64} D top ci
[12:47] {jfjf64} Enjoy all
01[12:48] {@Threei}  if we had empty afternoons for two weeks at least, the one on Fri before long weekend is guaranteed to be dead
01[12:48] {@Threei}  so, let's get some rest, have fun and see you Tuesday!
[12:48] {jfjf64} Lots food drink
[12:49] {drewj} enjoy guys
[12:49] {drewj} thank you vg