Apr 11 2013

Catch of the Day: CAT relative weakness gave an idea of the short even though SPY was making new highs at the time; slightest weakness in the market should have supported the short, which was exactly what happened. Bounce top signified by two Dojis was a perfect setup. On top of quite a few winning trades in the morning, the day is beyond perfect.

On top of all that, added a few more winning ones on GDX and SLW closer to the end of the day, to finish what came to be one of our best this year.


Session Time: Thu Apr 11 00:00:00 2013
[09:00] {dino} gm
01[09:01] {Threei}  dino :)
[09:04] {cc_9} Good morning fellas.
01[09:04] {Threei}  cc9 :)
[09:06] {thomcbell} gm
01[09:06] {Threei}  tbell :)
[09:06] {thomcbell} hpq - intc - brcm
[09:10] {jdetente} gm
01[09:10] {Threei}  jd :)
[09:18] {Les} mornign
[09:19] {cipher} gm
[09:20] {Will49} gm
01[09:20] {Threei}  les, cipher, will :)
01[09:26] {Threei}  Greece Jan Unemployment Rate climbs to fresh record of 27.2%
[09:26] {Les} official count
[09:27] {Alexs} gm
01[09:27] {Threei}  alex :)
[09:30] {dino} yum sm s .70
01[09:31] {Threei} Short Setup: GDX  .60 break
01[09:33] {Threei} Short Setup: C  .04 break
[09:33] {thomcbell} prlb looking for a short setup
[09:33] {dino} yum stop -.30
01[09:33] {Threei}  If holds  .10
[09:34] {dino} reload s .99
[09:34] {cc_9} We need this SPY to come down some.
01[09:35] {Threei}  GDX 1:1
01[09:35] {Threei}  C 1:1
[09:36] {dino} cov yum .57, +.42
01[09:36] {Threei}  wtg
[09:37] {Les} good call on GDX vad. was fuming on failure to catch SLW didn't look elsewhere
01[09:37] {Threei}  emotions...
01[09:37] {Threei}  fuming is emotion, right?
01[09:37] {Threei}  or just air pollution?
[09:37] {Les} I blame nemo
01[09:37] {Threei}  who doesn't
01[09:38] {Threei}  C 1:2
[09:39] {thomcbell} prlb was way too wide
[09:39] {Les} great response from C to a prior day's squeeze all out ty
01[09:40] {Threei}  yw
[09:40] {Alexs} ty for C, GDX Vad
01[09:40] {Threei}  yw sir
[09:41] {dino} yum sm s .50
01[09:41] {Threei}  wow C
[09:43] {Les} bbry .85 short?
[09:43] {jdetente} covered C at .71. Thanks Vad
[09:43] {Les} could be db
01[09:43] {Threei}  :)
01[09:44] {Threei}  can't tell BBRY
[09:44] {Les} http://www.finviz.com/futures_charts.ashx?t=SI&p=h1
[09:44] {Les} potential c & H developing in silver
[09:44] {Les} futures
01[09:48] {Threei} Short Setup: GDX  .90 break
01[09:50] {Threei}  1:1 in two shakes of a lamb tail
[09:50] {thomcbell} lvs?
01[09:51] {Threei}  not ready for reversal yet
01[09:51] {Threei}  1:2, out
[09:51] {Les} nice. I missed it
01[09:51] {Threei}  I chased to .87
01[09:52] {Threei}  broke down a bit too fast
[09:52] {Les} missed that too. vol. was only 100 from last trade. was upping the vol. and it kept sliding
[09:52] {Les} now I think I know why vol. automatically returns to default if I click on the L2 panel
01[09:53] {Threei}  that's how my laser set up
01[09:53] {Threei}  when changing symbol
01[09:53] {Threei}  or when position is closed
[09:54] {Les} another SOP to work on
[09:55] {dino} yum stop .81 -.31
[09:57] {dino} cbi drop
01[09:59] {Threei} Long Setup:  JCP  .43 break
01[09:59] {Threei}  If holds  .35
01[10:03] {Threei}  stop to .39
01[10:04] {Threei}  strange drop right when it looked ready for a final break
01[10:04] {Threei}  out
[10:05] {dino} stop jcp
01[10:05] {Threei}  good tightening
[10:05] {cipher} NTES L .15
[10:07] {cipher} out .NTES 39
[10:10] {cipher} NTES S .85
[10:11] {Les} SLW trying for .50 breakout
[10:14] {cipher} cov NTES .74 +.11
[10:14] {dino} cbi sm l .50
[10:16] {nemo} do they serve alcohol here?
01[10:16] {Threei}  self-serve
[10:17] {Les} u didn't got out and get some u bum?
[10:17] {Les} quaker house
[10:18] {nemo} there's a pesky fly in the room, Vad
[10:18] {Les} buuuuzzzzz
[10:20] {dino} cbi stop .19 -.31
[10:20] {dino} yum sm s .99
[10:21] {Les} bbry good short candidate vwap is .95
01[10:23] {Threei} Long Setup:  C  .25 break
01[10:24] {Threei}  If holds  .15
[10:24] {nemo} UNH long .75 break
[10:25] {nemo} stop under .65
[10:26] {nemo} still too illiquid to get a good fill
[10:29] {dino} cbi last try, sm l .00
[10:32] {nemo} cog above 71 looks good
[10:33] {Les} slw .30 short?=
01[10:33] {Threei}  can't tell
[10:33] {nemo} that's the open almost with vwap at .25
[10:33] {nemo} yeah, what he said
[10:33] {Les} yeh
[10:34] {Les} silver futures rising
01[10:36] {Threei}  market sudenly lost shape and drive
01[10:36] {Threei}  jellyfish
[10:38] {Les} same thing yesterday with C. lost drive
01[10:46] {Threei}  frikin C
01[10:46] {Threei}  rinse
[10:46] {cipher} CAVM L.22
[10:48] {Les} GDX bouncing around the LoD
[10:51] {cipher} CAVM stopped .15 -.07
[10:53] {nemo} two way srpt
[10:53] {cipher} INFA S .75
[10:54] {cipher} stopped .72 +.03
[10:54] {cc_9} The rape train only goes one way, and does not stop
[10:54] {cc_9} SPY, another high
[10:56] {cc_9} VXX barely @ legal age.
[10:56] {nemo} get used to it until earnings season shows it's hand
[10:59] {dino} yum stop -.21
[11:09] {dino} cavm
[11:12] {Les} GDX stopped trading?
01[11:12] {Threei}  pretty much
[11:13] {nemo} no, I wacked your ip address
[11:13] {dino} wac spike
[11:13] {Les} only thing you are wacking is yer willy
[11:14] {dino} cavm sm l .14
01[11:19] {Threei} Short Setup: CAT  .10 break hl
01[11:19] {Threei}  If holds  .20
[11:20] {nemo} if it doesn't trigger look to reload around .30
01[11:23] {Threei}  1:1
01[11:25] {Threei}  1:2, out
[11:26] {Les} me 2 ty
01[11:26] {Threei}  yw
01[11:26] {Threei}  fair warning guys
[11:26] {Les} GDX wakes up
01[11:26] {Threei}  people who don't like cats return to another life as mice
01[11:26] {Threei}  reincarnation can be real bitch
[11:27] {Les} don't like CAT but understood the setup
[11:27] {Les} long entry now?
01[11:27] {Threei}  no opinion
01[11:27] {Threei}  50/50
[11:27] {Les} k
[11:28] {dino} cbi to .79
[11:30] {dino} out cbi .79, +.79
[11:30] {Les} gj
[11:31] {dino} ty
[11:33] {dino} cbi sm l .46
[11:44] {Les} CAT .70 short?
01[11:44] {Threei}  hl, yes'
[11:48] {dino} cavm stop .97 -.17
01[11:50] {Threei}  1:1
01[11:50] {Threei}  good kitty
[11:50] {Les} screwed exit, taken as scalp. ty
[11:51] {dino} bcei?
01[11:52] {Threei}  no news
[11:53] {dino} notes offering yesterday, thats all
01[11:53] {Threei}  hmmm... I heard Finns are as avid drinkers as Russians... now I have confirmation:
01[11:54] {Threei}  (EU) Finland PM Katainen: More integration is needed in Europe, EU nations need to help each other through the crisis- EU member states still need to take responsibility for themselves. - Crisis response process has changed for the better. - Difficult to say who should pay for the crisis. - Europe is on track to banking union
01[11:54] {Threei}  not even yesterday dino, Apr 4
[11:54] {dino} ok, ty
01[11:55] {Threei}  (SI) ECB's Kranjec: Unjustified to compare Slovenia to Cyprus, situation is serious but a bailout program can be avoided
01[11:55] {Threei}  wanna bet, Kranjec?
01[11:56] {Threei}  1:2 close enough, out
01[12:03] {Threei}  you may find it funny but...
[12:03] {Les} hmmmm
01[12:03] {Threei} Short Setup: CAT  .50 break hl
[12:03] {Les} oh, here i thoiught it was gonna be a joke :)
01[12:03] {Threei}  if it were, I would say: you won't fund it funny
[12:03] {Les} gotchya
01[12:04] {Threei}  my jokes usually entertain 14 years old
[12:04] {Les} works for nemo then
[12:04] {nemo} mmmhhh
01[12:04] {Threei}  why do you think Seinfield never took seriously the threat of my competition...
[12:05] {nemo} it scares me that Les passed on his genes
[12:05] {Les} ah come on who else is gonna entertain you here?
[12:06] {nemo} with you les it's enterPAINment
[12:07] {Les} LOL not bad not bad
[12:12] {Les} http://wallstcheatsheet.com/stocks/ouch-blackberrys-new-z10-is-a-bleeder.html/?fb_comment_id=fbc_237971149675956_1008766_237973553009049
[12:12] {Les} BBRY hanging at the lows
[12:14] {Les} cut CAT -.02 wanna go do my pyjama party. back for close
01[12:17] {Threei}  no one dares to ask
01[12:17] {Threei}  thank god
[12:18] {jdetente} so he cut his cat and went to a pajama party
[12:18] {jdetente} sounds very German to me...
[12:18] {Will49} code for...?
01[12:21] {Threei}  don't Will...
[12:21] {Will49} OK
[12:22] {Will49} Les already has lowered the bar too far
01[12:22] {Threei}  one thing I learned dealing with nemo, and I suspect it's as true for Les, is: think twice before asking any questions, you might get an answer...
[12:22] {Will49} good policy
[12:22] {nemo} mmmhhh
01[12:25] {Threei}  1:1 baby
[12:25] {Will49} YES!
01[12:25] {Threei}  3 short on the same stock in a row
01[12:27] {Threei}  Will, I hope you are rethinking your take on cats...
[12:27] {dino} hmmm, stepped away and partial fill bcei .01
01[12:27] {Threei}  it's profitable, and you want to avoid that coming back as a mice
01[12:28] {Threei}  mouse
01[12:29] {Threei}  1:2
[12:30] {thomcbell} bvei reminding me a bit of kors yesterday - much thinner stock though
[12:31] {thomcbell} biggest volume print of the day just happened around 36.25
[12:31] {thomcbell} waiting for a setup now
[12:31] {thomcbell} bcei
[12:37] {dino} missed the whoosh to.01
[12:37] {dino} added ave .20 now
[12:37] {thomcbell} i got a bit there
[12:38] {dino} i caught only 100 @ .01
[12:40] {thomcbell} vwap 36.91
[12:40] {thomcbell} dino
[12:40] {thomcbell} as u know
[12:41] {dino} s3 36.68 tho
[12:42] {dino} close to prev rejection
[12:50] {thomcbell} prlb oof
01[12:52] {Threei}  someone had too much of that BC flag:
01[12:52] {Threei}  http://goo.gl/LX4wE
[12:58] {thomcbell} dino - looks like a good setup long bcei - 36.50 break if holding 36.40
[12:58] {thomcbell} that just went
[12:59] {thomcbell} i am using vwap as my target right now
[13:02] {dino} me too
[13:12] {dino} out bcei .81, +.61
[13:12] {dino} was laying out
[13:14] {thomcbell} molto bene -
[13:14] {thomcbell} didn t quite get to me at 36.90
[13:18] {dino} here to comes
[13:30] {thomcbell} barely got any off
[13:30] {thomcbell} feels ok though
[13:34] {thomcbell} oh well- sold a bit
[13:38] {dino} gappy trader
[13:45] {dino} hlf spike
01[13:49] {Threei}  Herbalife Ltd. Ticking higher on report out of court hearing indicating that the former KPMG partner London had heard that Herbalife was going to go private - financial press- KPMG's London allegedly passed this insider information on to his contact Bryan Shaw
[13:52] {cc_9} ACAD is killing the wanna be fade shorters todat
01[13:56] {Threei}  (US) House Speaker Boehner (R-OH): President Obama's budget is not a compromise but instead a 'step backwards'; not hopeful of budget deal- House will review the gun legislation passed by the Senate } - Reminder: Yesterday Boehner noted that Obama deserves some credit for changes to entitlements and was hopeful could reach a budget agreement. Boehner also mentioned that Obama had backtracked on entitlement reform in his chained CPI proposal
[14:03] {dino} roc spike
01[14:06] {Threei}  hmmm... why did we miss GDX .40 break
[14:10] {dino} bmc spike
[14:14] {thomcbell} prlb double bottom ish - but might be too many sitting on losing positions
[14:14] {dino} zumz sm s .85
[14:23] {dino} zumz to .55
[14:23] {dino} cov +.30
[14:33] {dino} prlb spanked today
[14:35] {thomcbell} and was strong as anything this am
[14:36] {dino} $5 range
[14:38] {dino} bbby drop
[14:40] {Les} what r we in?
[14:40] {nemo} you...coma
[14:40] {dino} cbi still from .46
[14:42] {Les} slw short .15?
01[14:43] {Threei}  looks good
[14:44] {dino} cbi to .79
01[14:45] {Threei} Short Setup: GDX  .30 break
[14:47] {dino} out cbi .78, +.32
[14:48] {Les} hedging with the miners again
01[14:48] {Threei}  yup
[14:53] {Les} slw valid?
01[14:53] {Threei}  yes but I'd like to see a min or two comsolidation before the break
[14:54] {Les} k
01[14:54] {Threei}  GDX is solidly invalidated, needs new formation
[15:01] {Les} IWM vwap rejection here
[15:05] {nemo} http://bit.ly/120pGxR  only in Massachusetts.  Of course we had a judge throw out an illegal gun posession case because the police had no right to expect that a known gang banger might be carrying a gun in a GUN CASE in public.
[15:12] {nemo} ffiv might come in here
[15:13] {dino} srpt drop
[15:14] {Les} traders dropping C
[15:17] {dino} bbby sm l .85
01[15:18] {Threei}  GDX is valid again
[15:21] {Les} bbry .50 short?
01[15:22] {Threei}  if stays under .60, yes
[15:22] {Les} k
[15:24] {thomcbell} long setup bcei 36.50 long break if holding 36.40
[15:24] {Les} how stupid of me to think I could borrow
[15:28] {nemo}  {Les} how stupid of me to think
01[15:28] {Threei}  SLW 1:1
01[15:28] {Threei}  I was wondering whther nemo was conscious
[15:29] {Les} like a little fishy. gotta give the right bait
01[15:29] {Threei}  that was such a low hanging fruit
[15:29] {nemo} yeah sorry, early doctor's appt.
01[15:29] {Threei}  ahh
[15:29] {dino} fishy fishy fishy
[15:30] {Les} http://www.independent.co.uk/life-style/gadgets-and-tech/news/researcher-shows-how-to-hack-and-crash-a-passenger-aircraft-with-an-android-phone-8569117.html
[15:31] {Les} hacking planes with android
[15:31] {Les} brave new world
01[15:40] {Threei}  lol... remember my prediction that they won't be able to get out of that capital control regime?
01[15:40] {Threei}  (CY) Cyprus Finance Ministry reportedly extends capital controls for another 7 days; will allow transactions of up to �300K within the country
[15:41] {thomcbell} bcei triggered
[15:41] {thomcbell} long
[15:41] {Les} within the country. Yeh get those condo projects sold hey...
[15:41] {thomcbell} target 1:3
[15:41] {Les} still sucking the tit of foreign investors, or trying anyway
[15:42] {thomcbell} market not cooperating
01[15:42] {Threei}  what can they do? the moment they lift the lid, money flies out of the country in a blink of eye
01[15:42] {Threei}  imbeciles
[15:43] {Les} you can't take it out, but you can spend it on our fine real estate... poor dicks
01[15:44] {Threei}  GDX 1:1
01[15:44] {Threei}  SLW 1:2
[15:44] {Les} last weeks low next stop
01[15:45] {Threei}  this threatens to be Will's best day ever
[15:45] {thomcbell} bcei 1:1 kind of
[15:46] {dino} gj tbell
[15:46] {Will49} could be!
[15:46] {dino} sweet will
01[15:47] {Threei}  between C, GDX, SLW and CAT, killer day
01[15:47] {Threei}  quite relaxing too
01[15:47] {Threei}  no stress
[15:47] {Will49} easy for you to say
01[15:47] {Threei}  yup... that's what no stress means {G}
[15:48] {dino} ngvc drop
01[15:48] {Threei}  in fact, today is so easy that I am thinking of using the rest of the day to go solve Mid East conflict
[15:48] {Will49} haha
[15:48] {thomcbell} bcei 1:2
[15:50] {dino} how you going to do that? toss a couple nukes?
[15:51] {Les} booyah
01[15:51] {Threei}  maybe deploy my scalping techniques... {G}
[15:55] {thomcbell} bcei 1:3 and out
[15:55] {cc_9} 5 mins to go
[15:55] {cc_9} below or above 159 on SPY close
[15:58] {dino} out bbby .08, +.23
[15:58] {Will49} nice day Vad tks
01[15:59] {Threei}  thank you all
01[15:59] {Threei}  have a great evening
01[15:59] {Threei}  see you tomorrow
[15:59] {Will49} cheers
[16:00] {dino} gn all, thx for ideas
[16:01] {Les} cheers

Apr 10 2013

And just like that, we are back to a winning streak with a very solid performance; GDX gave two short entries for 1:3 and 1:2, C gave long for 1:2 etc etc. We also had a little discussion about some trading philosophy with quotes from A Taoist Trader. Scroll through the log to see nice trades and good conversation  And some not very funny jokes, as usual.

Session Time: Wed Apr 10 00:00:00 2013

[09:10] {dino} gm

[09:10] {nemo} don't do that to me, dino

01[09:10] {Threei}  dino :)

[09:10] {Les} GOOOOOOOOOOOOOOOOOOOOOOOOD MOOOOOOOOOOOOOOOOOOOOORNIIIIIIIIIIIIIIIIIING

[09:10] {dino} ?

[09:10] {Les} someone drink too much hey?

[09:11] {nemo} define "too much"?

01[09:11] {Threei}  hmmm

[09:11] {Les} 3 glasses

01[09:11] {Threei}  asylum is open

[09:11] {nemo} one of life's unanswerable questions

[09:11] {Les} philosophers café vad

[09:11] {nemo} rate's right up there with, "Why was Les born..."

[09:12] {Les} bwaaahahaahahahaaaa

[09:12] {Les} why is the night black....

[09:12] {nemo} Wonder if the gods are gonna' make me do another rotation in this hell-hole

[09:14] {Les} silverlight u suck

[09:15] {nemo} make sure you have the latest upgrade to silverlight...have to uninstall the old one first

01[09:15] {Threei}  {Silverlight} I know... all goldbugs say so

[09:15] {Les} sigh

[09:15] {Les} that's gotta be the worse I've heard this week

[09:21] {jdetente} gm

[09:21] {thomcbell} bbry looks squeezable thru 15 today 

[09:21] {Will49} gm

01[09:21] {Threei}  jd, tbell, will :)

01[09:21] {Threei}  *(US) MINUTES OF THE MAR 20 FOMC MEETING: 1 MEMBER THINKS TAPER SHOULD BEGIN IMMEDIATELY, A FEW WANT QE TO END OR BE REDUCED BEFORE LONG; A FEW THINK PURCHASES SHOULD CONTINUE AT CURRENT PACE UNTIL LATE IN THE YEAR

[09:22] {cipher} gm

01[09:23] {Threei}  cipher :)

[09:23] {Alexs} good morning

01[09:23] {Threei}  alex :)

[09:26] {backman} gm

01[09:26] {Threei}  bman :)

[09:26] {Les} opening hit on SLW .50 if holding .60?

01[09:29] {Threei}  SLW needs a few minutes after open for the spread to tioghten

[09:31] {thomcbell} wow slw 

[09:31] {Les} lol just got back from the kitchen

[09:31] {nemo} new spy highs

01[09:32] {Threei} Long Setup:  LVS  .30 break hl

01[09:33] {Threei}  If holds  .20 

[09:33] {nemo} wow, that's a spread for LVS

[09:33] {Les} nice spread

01[09:34] {Threei}  that's why hl

[09:34] {cipher} FAST L .99

[09:34] {cipher} out .24 +.25

[09:34] {thomcbell} kors bizarre drop 

01[09:35] {Threei}  SPY S&P 500 sets fresh all-time high above 1,576.09 (Oct 2007)

01[09:36] {Threei} Short Setup: GDX  .70 break

01[09:36] {Threei}  If holds  .80 

[09:38] {dino} titn gap around 20.30 november

01[09:40] {Threei}  no go lvs

01[09:41] {Threei}  trail GDX to .76

01[09:42] {Threei}  GDX 1:1

01[09:43] {Threei}  1:2

01[09:44] {Threei}  1:3, out

[09:44] {Will49} nice Vad

01[09:45] {Threei}  about time

[09:45] {cipher} expd s .50

01[09:45] {Threei}  gross misbehavior by GDX yesterday

01[09:45] {Threei}  atoning for it this morning

[09:45] {Les} how dare people buy the miners...

[09:45] {thomcbell} hah

[09:46] {cipher} cov EXPD .42

01[09:46] {Threei} Long Setup:  GDX  .50 break

01[09:46] {Threei}  If holds  .40 

[09:46] {cipher} EXPD L .17

[09:48] {cipher} EXPD=FAST

[09:48] {thomcbell} long setup dnkn 39.02 break if holding 38.86 - half lot 

01[09:48] {Threei}  nope, not ready yet

01[09:49] {Threei} Long Setup:  BBRY  .65 break

01[09:49] {Threei}  If holds  .55 

[09:51] {Les} DT spy?

[09:51] {Les} don't wanna sell it at the ATH though

01[09:51] {Threei}  don't see it

[09:51] {Les} k

[09:52] {cipher} out FAST .44  +.27

[09:55] {ese} do do do do.........just a playin away....forgettin to sign in........L mnkd .27

[09:56] {thomcbell} kors small long 54.10

[09:56] {ese} I really think his handle should be c3po

[09:56] {Les} GDX strengthening

[09:56] {ese} forget the c8 stuff

01[09:57] {Threei}  BBRY stop to .59

01[09:58] {Threei}  half out

01[09:58] {Threei}  it's so hesitant near 1:1, let's respect the hesitation

01[09:58] {Threei}  stop to .64

[09:59] {dino} back in hour or so, just sold a flip, sign papers

01[09:59] {Threei}  congratulations

[09:59] {dino} :)

01[10:00] {Threei}  (US) Senate Minority leader McConnell (R-KY): Wondering if Obama wants to 'blow up the budget process'; Obama budget is 'not a serious plan'

[10:00] {Les} real estate? GJ

[10:00] {dino} house

01[10:00] {Threei}  dino applies scalping skills to RE, Les

[10:00] {Les} lol that how you coin it hey?

[10:00] {dino} just doing my job

[10:01] {Les} I know it ain't all bad news in that market over yer way

[10:01] {dino} i buy foreclosures, 2 or 3 a year, fix and flip

[10:02] {Les} cover last GDX .32

[10:02] {nemo} spy will likely test 158

[10:02] {Les} good use of yer gains I'm guessing

[10:03] {Les} GDX 61.8% fib retrace support here of entire 2009/12 rally

[10:03] {thomcbell} out kors 54.70

[10:05] {Will49} nice

[10:05] {cipher} CLMT L .76

[10:05] {Les} BBY squeeze finished

[10:06] {Les} will be looking to short it at resistance of here at S3

[10:06] {Les} vwap resistance or s3 .60

01[10:07] {Threei} Short Setup: CAT  .10 break

01[10:07] {Threei}  If holds  .20 

[10:08] {cipher} OPEN L .67

[10:08] {ese} out mnkd .33 +/- .00

[10:09] {nemo} shit...rum bottle empty

[10:09] {jdetente} switch to bourbon

[10:09] {nemo} don't have any

[10:09] {jdetente} gin?

[10:09] {nemo} mmmhhhh....rubbing alcohol?

01[10:09] {Threei}  you came unprepared?

[10:09] {Les} yer fathers pills dude

[10:09] {Les} speaking of which, how is he?

[10:12] {cipher} out OPEN .89 +.21

[10:12] {nemo} eye is better, early appointment tomorrow

[10:13] {Les} cool

[10:13] {Will49} CAT still valid?

01[10:14] {Threei}  yes, just keep it to hl

[10:14] {Will49} tks

[10:14] {cipher} out CLMT .01 +.25

[10:15] {Les} JPM at R3 and hesitating, but watching for consolidation and next lift off. C 45 is tempting target

[10:16] {Les} try and get long a bankster squeeze day if it is one

01[10:17] {Threei}  GDX is still sliding

01[10:17] {Threei}  wow

01[10:21] {Threei}  1:1

01[10:21] {Threei}  if I wanted to suffer long and deep, was gl utton for punishment lasting for years... I'd become a goldbug

[10:22] {nemo} or get married

01[10:22] {Threei}  that I did

[10:22] {Will49} lol

[10:22] {Les} BBRY back to previous low. short .55?

01[10:22] {Threei}  inverted C&H

01[10:23] {Threei}  I like

[10:23] {Will49} imagine the pain of being married, a goldbug and living in Switzerland

01[10:23] {Threei}  lol

01[10:23] {Threei}  in the winter

[10:23] {Les} still winter here

[10:23] {Les} can't borrow

01[10:23] {Threei}  and les can't even answer, busy shorting BBRY

[10:23] {nemo} I think I feel worse for Les' wife

[10:24] {Les} don't need to Nemo, she knows what she must suffer now until death or diverce does us apart

01[10:24] {Threei}  or she might poison you

[10:25] {Les} or herself. Drinks like a fish

[10:25] {nemo} well...

[10:25] {nemo} that's just too easy

01[10:25] {Threei}  hemlock works, as Socrates found out

[10:25] {Les} try keeping it to yourself, that might be moreof a challenge :P

[10:25] {nemo} I think I'd prefer drawn and quartered

[10:33] {thomcbell} looking for a long setup on kors Vad style 

[10:34] {thomcbell} 54.38 break if holding 54.20 half lot 

[10:40] {thomcbell} kors switching to full lot if holding 54.30

[10:42] {thomcbell} kors invalid

01[10:43] {Threei} Long Setup:  C  45 break

01[10:43] {Threei}  If holds  .90 

01[10:44] {Threei}  1:1 in a blink of eye and with huge volume spike

[10:50] {Les} damn missed bby

[10:54] {thomcbell} im still going to keep eye on kors 54.38 long break - weird action 

[10:55] {thomcbell} and it wont be a scalp for me 

01[10:57] {Threei}  1:2

01[11:00] {Threei}  (SI) Slovenia Banking Association Chief: Govt has been too slow to clean up the banking sector, expects one state owned bank to be sold but unclear at what point in time

[11:01] {thomcbell} kors pop 

01[11:01] {Threei}  guess who is on TV

01[11:02] {Threei}  long tome no limelight

[11:02] {Les} santa claus

01[11:02] {Threei}  you wish

01[11:02] {Threei}  (US) President Obama: Budget today is a blueprint for jobs and growth; makes targeted investments to create jobs immediately

01[11:02] {Threei}  uhhu

01[11:03] {Threei}  blueprint for govt growth and taxpayer-financed jovs

01[11:03] {Threei}  jobs

[11:03] {thomcbell} got 0.20 cents on krs so far - i am looking for near $55 

01[11:03] {Threei}  wtg

[11:04] {cc_9} When we start counting food/energy into the cpi and the real job #s (not marginalizing those who gave up), then we talk about the economy. Right now its just silly.

[11:06] {thomcbell} kors + 0.40 

[11:06] {Will49} nice thom

[11:06] {cipher} wtg

[11:06] {dino} .

[11:06] {thomcbell} tu 

01[11:07] {Threei}  but cc_9... then we might have to face that thing called reality... whno wants that

[11:08] {cipher} KORS S .87

[11:10] {cipher} cov .77

[11:10] {thomcbell} out 1/3 kors 54.82

[11:11] {thomcbell} out 2nd 1/3 54.86 - kors

[11:12] {thomcbell} flat kors - 54.73 

[11:16] {Will49} out C tks Vad

01[11:17] {Threei}  :)

[11:20] {thomcbell} vad high volume spinning top on 15 min spy

01[11:21] {Threei}  I wouldn't expect a drop... rather a stall

[11:21] {thomcbell} cipher thanks for that short entry on kors - helped me sell the position well

[11:22] {cipher} np

[11:23] {nemo} PRU under .80 looks good

[11:25] {nemo} volume spiked

[11:25] {thomcbell} prlb had a huge move today and now all the way to huge round number 

[11:25] {thomcbell} good spot for a long pattern failure

[11:27] {thomcbell} kors 55 

[11:27] {thomcbell} hehe

[11:27] {Les} BBRY back to lows 

[11:27] {nemo} GDX might be a good short here against 35

[11:28] {thomcbell} oh vad look at that on prlb 

01[11:29] {Threei}  I don't want to

01[11:32] {Threei}  ok... I looked anyway

[11:33] {nemo} clf probably a short here

[11:37] {nemo} nope 

01[11:37] {Threei}  - The FOMC minutes were released early this morning at 09:00ET, instead of 14:00ET, after the accidental disclosure of the information yesterday afternoon. The minutes themselves exposed the lively debate over the right time to begin winding down Fed asset purchases. All but a few officials agreed that the program should continue until at least midyear. Some said buying should taper down around midyear, others felt buying should continue through September before tapering, and a few wanted buying to continue at its current pace into 2014.

[11:37] {cc_8} Among the companies with shares expected to actively trade in Wednesday’s session are Health Management Associates Inc. (HMA), Family Dollar Stores Inc. (FDO) and Adtran Inc. (ADTN).

01[11:48] {Threei}  68% View Margaret Thatcher Favorably

01[11:49] {Threei}  you wouldn't say that seeing lefties dancing on her grave

[11:50] {dino} she saved the uk imo

01[12:06] {Threei}  grrr... PRLB... tbell, why would you do that to me, now I can't stop watching it

[12:15] {cipher} RGLD L .72

[12:16] {thomcbell} prlb crazy crazy move

01[12:16] {Threei} Short Setup: GDX  .90 break

01[12:17] {Threei}  you'll never let me live that down tbell, will ya? :)

[12:18] {thomcbell} i dont remember 

01[12:27] {Threei}  die softly, GDX

[12:27] {Will49} no...diehard

[12:27] {Les} no I have preference for quick and horrible myself

01[12:27] {Threei}  or that

01[12:27] {Threei}  I won't mind

01[12:31] {Threei}  good boy GDX

01[12:31] {Threei}  die more

01[12:31] {Threei}  and faster

[12:34] {cipher} RGLD stopped -.16

01[12:34] {Threei}  1:1

01[12:34] {Threei}  GDX dies harder and faster

[12:35] {Will49} yeah man

[12:35] {dino} another slow day

[12:35] {Les} sounds like a repeat

[12:35] {Will49} you win Vad

01[12:35] {Threei}  of course I do

01[12:35] {Threei}  I am never wrong

01[12:35] {Threei}  Once I thought I was wrong,

01[12:35] {Threei}  but I was wrong about that

[12:36] {Will49} LOL

01[12:36] {Threei}  I also was wrong saying that I was wrong... I should have said mistaken

01[12:36] {Threei}  1:2

[12:40] {nemo} http://bit.ly/12IpgP4  time to go long gold

[12:42] {nemo} this should be the top

[12:45] {Les} testing top of channel

[12:45] {thomcbell} kors - 

[12:45] {nemo} MR1 WR2 dead ahead, let's hope we get TITANIC action

[12:45] {cipher} GLD L .79

[12:47] {nemo} all european markets basically closed on their highs

01[12:49] {Threei}  I am not sure why GS advertises their action so openly this time, but I generally agree with their call

01[12:49] {Threei}  more than that, I see gold going much lower than they say

01[12:50] {Threei}  although they also made a reservation for that:

01[12:50] {Threei}  �In fact, should our expectation for lower gold prices continue to prove correct, the fall in prices could end up being faster and larger than our forecast,� they said.

[12:50] {thomcbell} LOKS LIKE 1150

[12:51] {Les} clean em out. All the believers following Sprott, Rodgers and the others

01[12:51] {Threei}  gold bug writers lead people to slaughter, IMO

01[12:52] {Threei}  just as they did with oil

[12:52] {Les} oil?

[12:52] {Les} when?

01[12:52] {Threei}  drop from 150 to 40

[12:53] {cc_9} Anyone trading SRPT today ?

[12:53] {cc_9} Some profit taking fro that ramp yesterday

01[12:53] {Threei}  not me

01[12:54] {Threei}  wake up Les... you are not THAT young not to remember the great oil pump and dump

[12:55] {Les} don't rmember the particulars

01[12:55] {Threei}  gimme a sec

[12:55] {nemo} his age has nothing to do with it Vad

[12:55] {Les} was just beginning to pick up the first pieces off of Cara at the time

01[12:57] {Threei}  A similar story arose in the oil price explosion with price reaching $150 in the summer of 2008 only to drop back to under $40 � all the while experts predicted it going higher and higher.

01[12:58] {Threei}  A Taoist Trader, pg 148

01[12:58] {Threei}  now, pg 181 for some details

01[12:59] {Threei}  let�s look at the action of a trader who ignores such signs. Convinced that favorable price action will continue, he ignores the first signs of a problem. To help visualize such a situation, let�s recall a very recent example � peak of the oil prices in the summer of 2008 at $147.27. All kinds of prognoses for the trend to continue were made everywhere with price targets at $200, $300 etc.

01[12:59] {Threei}  Price however started declining. By itself, it wouldn�t be a reason to exit the trade � no trend goes in a straight line without pullbacks. However, a series of lower highs and lower lows made against the backdrop of calls for a further run-up was a strong warning sign.

01[12:59] {Threei}  This is where that extremely damaging emotional cycle started developing for those who ignored early signs of troubles. While the retreat from the high was relatively small (about $22 over first two weeks), it was easy to ignore. In a month, it dropped to $112 - $35 decline.

01[13:00] {Threei}  Such cut in profits was harder to accept, and many traders started convincing themselves that they had to sit it out, rationalizing their decision by all kinds of fundamental explanations for the inevitable and imminent price rise. In about two months, the price broke below $100.

01[13:00] {Threei}  Vicious destruction of hopes and trading accounts continued for a few months more, taking the price under $40 (!) before a rebound finally started. Curiously enough (although not at all unpredictable), as the price declined that much, negative predictions became overwhelming, calling for even lower prices and causing desperate holders to bail out � close to eventual bottom, of course.

01[13:00] {Threei}  end

[13:00] {Les} C flagging for breakout beyond .10?

[13:01] {Les} will look that chapter up again

[13:02] {ese} Ok.......certainly not contributing much on the board........I'm Denmark bound....am gonna try to log on while i'm over there to watch you all become filthy stinking rich.......in the meantime take care cya in a week.......Les!!! get the coffee on

01[13:02] {Threei}  have a safe trip ese

[13:02] {Les} cheers ese

[13:02] {ese} tks vad les

01[13:02] {Threei}  while you are there, try to find out whether it's as rotten as Shakespeare thought

[13:03] {dino} cya ese

[13:03] {nemo} it will be when he gets there

[13:04] {nemo} o.k. 

[13:04] {nemo} top

[13:06] {Les} JPM ain't showing the love

[13:07] {Les} C 45 short?

01[13:08] {Threei}  hl... not too sure

[13:09] {Les} vwap .10 lower. will let it go and watch

[13:17] {Les} slw .50 short?

[13:19] {Les} sm s .48

[13:20] {thomcbell} KORS WANTS GREEN

[13:27] {Will49} good call thom

01[13:29] {Threei}  you know, I don't think he called it.. it rather sounded like he told CORS

01[13:29] {Threei}  "you want green, got it??"

[13:29] {Will49} yes...looks like an order doesn't it?

01[13:29] {Threei}  KORS said yes sir

01[13:29] {Threei}  I do sir

01[13:29] {Threei}  how high sir?

[13:32] {Les} C trying for HoD again

[13:32] {Les} half slw covereed .40

01[13:33] {Threei}  SLW 1:1

01[13:33] {Threei}  nice and easy day

01[13:33] {Threei}  woever thought of throwing a stone at me yesterday, should have done that... told you, it was not going to be a long-standing opportunity

[13:34] {Will49} yea, I'm at 5 wins in a row, first time i think

01[13:34] {Threei}  got one funny e-mail yesteday, let me find it

01[13:36] {Threei}  I am a regular at your trading log, and I was glad to see a losing day you posted yesterday. Don't get me wrong, I don't enjoy someone ele's losses, but your consistent winning made me feel depressed a little. Glad to see you are a human too.

01[13:36] {Threei}  I answered:

[13:37] {Will49} sihn up

[13:37] {Will49} sign

01[13:37] {Threei}  I am not, but I have to pretend, lest they chase me off thia planet which I find full of bacon and generally enjoyable.

[13:40] {Les} lotta pushing and pulling in the silver futures pit today

[13:41] {Les} doubt he got the joke vad

01[13:41] {Threei}  come on... it's not that thickly veiled :)

[13:42] {Les} given his depression vis a vis your winning, I'm guessing his outlook on life is tainted

[13:42] {Les} your response makes me think of Monty Python

01[13:43] {Threei}  I think his depression refernce was half-joke

[13:44] {Les} oh

[13:44] {Les} were you the messiah in previous life?

[13:44] {Les} http://www.youtube.com/watch?v=8EI7p2p1QJI

01[13:44] {Threei}  those who are really depressed by PMs and miners pounding and irriated by my write-ups, don't generally read my logs... they stew in their own juices

01[13:48] {Threei}  I like that Shwarzenegger spoof more

01[13:48] {Threei}  can't find it on the fly

01[13:49] {Threei}  where he was saving JC

[13:49] {Les} hehehe

[13:49] {Les} got it on FB

01[13:49] {Threei}  post a link

01[13:49] {Threei}  that was the funniest thing ever

[13:49] {Les} gold miners running

01[13:50] {Threei}  (US) Preview: Mar Monthly Budget Statement due out at 14:00ET**Consensus expectation: -$107.0Be v -$198.2B year ago March - Feb budget deficit at -$203.5B was widest deficit since Feb 2012.

[13:51] {thomcbell} long setup slw 28.40 break 

[13:51] {thomcbell} if holding 28.30 for a chop?

01[13:52] {Threei}  I am not very ethuisatic, tbell

01[13:52] {Threei}  feels like spitting in the wind to me

[13:53] {thomcbell} y

01[13:53] {Threei}  no clear signs of trend change

01[13:53] {Threei}  GDX does show signs of reversal, but SLW is weaker

[14:03] {Les} http://www.youtube.com/watch?v=l-J1AHjm0v0

01[14:03] {Threei}  this is it, thanks :)

[14:11] {Les} 2H SLW stop

[14:20] {cc_9} This market knows no gravity.

01[14:23] {Threei}  haven't you heard? gravity has been abolished by Fed

01[14:23] {Threei}  come on man, get with the program

[14:23] {Les} temporarily suspended

[14:33] {Les} once again surprised by today's action. Ignored C .20/.25 setup. Market struggling

01[14:36] {Threei}  why suprised?

[14:37] {Les} wary of squeeze as new HoD was being tested. Price collapsed bit too easily.

[14:37] {Les} or eager longs were just given a good rinsing can't tell

01[14:39] {Threei}  I guess I do very little assuming or expectatikon... thus not getting surprised easily

[14:41] {Les} C squeezed me a few sessions earlier so just wary at this point

[14:41] {cc_9} Fed borrows @ 0%

[14:42] {cc_9} banks borrow at o %

[14:42] {cc_9} fed prints 85B a month

[14:42] {cc_9} treasury at near 0%

[14:42] {cc_9} fed balance sheet exceeds 3T

01[14:42] {Threei}  going somewhere with that? :)

[14:42] {cc_9} markets move on rumors and announcements

[14:42] {cc_9} money can evaporate a la corzine

[14:42] {cc_9} stock market and not called Casino

[14:43] {cc_9} I am not sure what is what anymore.

01[14:43] {Threei}  no one is

[14:43] {cc_9} :(

01[14:43] {Threei}  thus taking it one day at a time... stocking ammos and whiskey

[14:43] {dino} news doesn't matter, it's the reaction that counts

[14:44] {nemo} iwm new highs wtf

[14:44] {cc_9} From my cold drunken hands.

[14:44] {Les} I have had years of difficulty grappling with these fundies and the market. Dumping the fundies has helped greatly

01[14:44] {Threei}  here is an angle that will help grasp what's happening

[14:45] {nemo} thanks for the reminder cc

01[14:45] {Threei}  this is not about market fundamentals, or technicals, and not even about market at all,

01[14:45] {Threei}  this also not about monetary policies,

01[14:45] {Threei}  all this stuff is derivative.

01[14:46] {Threei}  What it really is about is desintegration of the fabric of scoeity

01[14:46] {Threei}  society too

[14:46] {nemo} plenty of 5.56 on hand

01[14:46] {Threei}  You guys lived for too long in too stable society, it's hard for you to imagine its collapse

01[14:47] {Threei}  For those who lived through Soviet empire annihilation is much easier to envision

[14:47] {cc_9} People need to forget the term Debt, the US does not need to pay its debts, and it won't ever pay its debts.

[14:47] {cc_9} What you said is correct, its not about the markets, that is only the surface, the iceberg is much bigger under the water.

01[14:47] {Threei}  well, no paying it is a form of collapse, because funding will disappear

01[14:48] {Threei}  music plays while someone buys bonds

[14:48] {cc_9} Funding will not disapear, China, Saudi etc...have to keep on buying.

01[14:48] {Threei}  oh but it will

[14:48] {dino} problem w/the debt is it takes greater part of budget to support it

[14:48] {cc_9} They have nowhere else to sit their cash in, they are already pot commited, we just keep printing IOUs

01[14:48] {Threei}  when no one but Fed remained to do that, money will lose underklying confidence

[14:49] {nemo} things get more interesting when other currencies rise, or fall, as is the case with the euro

[14:49] {Les} ITS THE C WORD!

[14:49] {Les} probably the most intelligent thing Kaimu has ever said

[14:49] {Will49} so...this has been going on for 70 years, why not another 70 years?

[14:49] {cc_9} Our only hope is that bitcoin reaches $1,000 per btc lol.

01[14:49] {Threei}  nothing lasts forever... but yes, Euro collapse will help

[14:49] {dino} cc9, w/respect, look at greece, etc. sure you can print but rates become prohibitive

[14:49] {nemo} Les judging intelligence...the Rapture is at hand

01[14:50] {Threei}  as USD will remain the skinniest girl in a fat camp

[14:50] {nemo} with a gag reflex

[14:50] {cc_9} dino, I do agree, but the US is at the top of the scheme, the rest is fully aware that the game must go on.

[14:50] {dino} and bitcoin will be made illegal as soon as govt sees it working to y-pass taxes

01[14:50] {Threei}  this is very true

[14:50] {cc_9} They will keep pumping oil, they will keep using its proceeds to buy toxic debt

01[14:50] {Threei}  but it's about the last chair...

[14:50] {cc_9} Yes

01[14:51] {Threei}  the music WILL stop

[14:51] {nemo} Gawd I want to short this, but so does everybody else

01[14:51] {Threei}  don't

01[14:51] {Threei}  this bubble is far from bursting

[14:51] {Les} and then WHAT? that's what scares me

[14:51] {Les} once the music stops..

[14:52] {cc_9} nemo, I know people who went belly up shorting the markets since 2009, starting a new cycle every 6 months.

01[14:52] {Threei}  oh come on

[14:52] {nemo} they make me dictator

[14:52] {cc_9} Never under estimate the power of easy printing.

01[14:52] {Threei}  look at USSR

[14:52] {nemo} run by Pahan

01[14:52] {Threei}  fell apart, and what? life stopped?

[14:52] {nemo} for many, yes

[14:52] {Les} purchasing power, yes

01[14:52] {Threei}  new structures will appear

[14:52] {nemo} lower high spy

[14:53] {Les} 3 min MACD green not touching this

[14:53] {nemo} I'll line up all the liberals...head to head

01[14:53] {Threei}  ask average Russian whether they want to go back to USSR times

01[14:53] {Threei}  average, not the 70 years old who never saw anything different and couldn't adjust to new life

[14:54] {nemo} but now it's a feudal system there...the lords and the serfs

[14:54] {cc_9} i know for a fact Deripaska does not want to go back.

01[14:54] {Threei}  lol

[14:54] {nemo} Captain in the FSB makes $1200 month

[14:54] {nemo} live off that in Moscow

[14:54] {nemo} GFL

01[14:55] {Threei}  he adds in bribes

[14:55] {nemo} I don't know, this one works for Pahan

01[14:55] {Threei}  then he gets a lot of perks

[14:55] {nemo} nah Tzarina a bit on cheap side

[14:57] {Les} great, so I need to become state paid thug to get on in new life

[14:57] {nemo} well, you got the knuckle dragging part down

[14:57] {Les} not everyone is like Nemo... sadistic

[14:57] {nemo} at least I'm artistic about it

[14:58] {nemo} as I've said, my mission in life is to help souls transition

[14:58] {nemo} to the next one

[14:58] {Will49} and humble too, nemo

[14:58] {nemo} facts are facts

[14:59] {Will49} sometimes facts seem like opinion

[14:59] {nemo} could you be more specific?

[14:59] {Will49} no i'm a generalist

[15:00] {nemo} ahhh...

[15:00] {Les} a liberal Nemo. line him up with the rest

[15:00] {Will49} liberal? if you only knew!

[15:00] {nemo} excuuuuseee me!!!!

[15:01] {nemo} I'm quite liberal, have I ever commented negatively on interspecies marriages...I mean your wife married you...

[15:02] {Will49} you talkin' to me...you talkin to me???

[15:02] {backman} said to a guy "take my wife, please"....he replied "been there....done that"

[15:02] {nemo} when is a lower high, not really a lower high

[15:02] {Will49} Henny Youngman joke

[15:02] {nemo} love Travis

[15:02] {Will49} take my wife, please!

[15:03] {backman} :=)....but my tag line is orig

[15:03] {Will49} OK

[15:03] {Will49} betcha half the guys here had to google Henny Youngman

[15:03] {nemo} not really, that's just a corrollary to "Hey bud, got any naked pictures of your wife?"   Well, no...."Want any?"

[15:04] {Will49} LOL

[15:04] {backman} what's Google, sonny?

[15:04] {Will49} :)

[15:04] {Will49} just trying to keep you guys grounded in the past

[15:07] {Will49} given that some of you think the world is going to end

01[15:07] {Threei}  world, no

[15:07] {nemo} humanity....hopefully

[15:07] {Will49} fidure of speech

[15:07] {Will49} figure

01[15:07] {Threei}  overextended system or parts of it, sure

[15:07] {nemo} Malthusian economics

[15:09] {Will49} had to google that

[15:10] {nemo} short busser there Will?

[15:10] {Will49} kind of like him

[15:10] {nemo} I'm more of a Torquemada kinda' dude

[15:11] {Will49} you're way over my head nemo:)

[15:11] {Will49} i'm just a simple guy

[15:11] {nemo} at 5'6" that's unlikely

01[15:11] {Threei}  Torquemada... now, here is a name I haven't heard in decades

[15:12] {Will49} i only have a hundred words in my vocabulary and that aint one of them

01[15:12] {Threei}  nemo, with all his warts and rough skin, is well educated {G}

[15:13] {Will49} so it seems

[15:13] {nemo} I think of it as knowing alot of useless shit

[15:13] {Les} SLW returning to LoD

01[15:13] {Threei}  Spanish inquisitor, famous for rare combination of incredible cruelty and very soft gentle behavior, which made hsi victims especially frightened

[15:13] {nemo} O.K. I won't short this...I'll just drink

[15:14] {Les} c 45 short?

[15:15] {Will49} come on Les, where are your priorities, we're chatting here!

01[15:15] {Threei}  yes

[15:15] {nemo} careful though FAS almost already at support and vwap

[15:15] {nemo} as is C

[15:16] {nemo} oh, bunny just came out from her daytime hiatus

[15:17] {nemo} Hey Will, wait 'til the blogpost on Sunday, I really go academic then...

[15:18] {Will49} I'll be waiting with bated breath

[15:18] {nemo} I'll be nice

01[15:18] {Threei}  hah

01[15:18] {Threei}  that I want to see

[15:19] {Les} u are forbidden to mention my handle

01[15:19] {Threei}  nice nemo is like non-printing Bernanke or non-spending Obama

01[15:19] {Threei}  oxymoron

[15:19] {Will49} gawd how boring

[15:19] {nemo} don't worry Les, I wouldn't want to sully this week's contents with a reference to you

[15:21] {thomcbell} lvs looks like a sneaky long setup here

[15:21] {Les} short slw .30?

[15:22] {Les} a little quick into support

01[15:22] {Threei}  not here

01[15:22] {Threei}  around .40 it was more or less a setup

[15:22] {nemo} finnies bouncing at vwap

[15:23] {backman} surprised GDX not bouncing with this sell off

[15:24] {nemo} ahhh...we're bouncing

[15:38] {nemo} oh jeez, hold on

[15:43] {thomcbell} this prlb is incredible - 

[15:43] {thomcbell} was 44 briefly on friday 

[15:52] {nemo} SPY so far has the WR2 as the ceiling

01[15:55] {Threei}  5.5 eartquake in Honduras

01[15:55] {Threei}  anyone os bothered by it?

[15:55] {Les} yeh

[15:55] {Will49} didn't feel a thing

[15:55] {Les} I'm ignorant as to the location of the Honduras

[15:55] {dino} calling it a day. gn all

[15:55] {nemo} Central America

01[15:55] {Threei}  well... it's one of those things that won't bother you unless you astart scratching it

01[15:56] {Threei}  thank you all, have a great evening

[15:56] {Les} cheers

[15:56] {backman} tu...nite

01[15:56] {Threei}  see you tomorrow

[15:56] {Will49} cheers

[15:56] {nemo} nanananananananananannananana BACKMAN!!!

[15:56] {Will49} great day Vad

01[15:56] {Threei}  :)

Apr 09 2013

Not our day, as whatever worked was limited to scalps, and most of setups had no follow through. Last few trades worked but still left day in negative territory.


Session Time: Tue Apr 09 00:00:00 2013
[00:35] {george01} hey guys
[08:14] {nemo} Booknight kills me
01[09:06] {Threei}  I guess it's time to wake up...
[09:08] {cipher} gm
01[09:08] {Threei}  cipher :)
[09:19] {dino} gm
01[09:20] {Threei}  dino :)
[09:20] {Will49} gm
01[09:20] {Threei}  will :)
[09:20] {backman} gm
01[09:20] {Threei}  bman :)
01[09:22] {Threei}  what's with sudden swan dive
[09:22] {nemo} they've been pishing it up all morning, now to shear some sheep
01[09:23] {Threei}  LVS is about flat to reddish in a strong open
[09:25] {nemo} hlf halted
01[09:25] {Threei}  news pending
[09:26] {ese} morning..........Slovenia next I see
01[09:26] {Threei}  ese :)
01[09:26] {Threei}  yes... we called that
[09:26] {jdetente} morngin all
[09:26] {ese} mormgin
01[09:26] {Threei}  jd :)
[09:26] {jdetente} morning lol
01[09:26] {Threei}  during Cyprus crisis, all of a sudden someone of EU officials said "Slovenia won't be next Cyprus"
01[09:27] {Threei}  which was dead giveaway
[09:27] {Alexs} gm
01[09:27] {Threei}  alex :)
[09:27] {Les} huh slovenia already?
[09:27] {Les} gm
[09:28] {thomcbell} jcp johnson out
[09:28] {ese} worlds in great shape don't you think..........tax evaders.....credit debacles....Stephen harper and the Royal Bank .......awesome......this is what traders need..volitility
[09:28] {thomcbell} that could be a cookie one
01[09:28] {Threei}  les :)
[09:28] {ese} yup JCP
[09:29] {ese} Switzerland next Les
01[09:29] {Threei}  when we are done with morning volatility, do tell what Haroer did to deserve to be included in that
[09:30] {Les} switzerland got the gold ese. last man standing
01[09:31] {Threei} Short Setup: GDX  .10 break hl
[09:32] {cipher} FIRE L .29
01[09:32] {Threei}  If holds  .15
01[09:32] {Threei}  1:1
[09:34] {Les} c pushing hard for 44
01[09:36] {Threei}  pms and miners, still hedge to SPY
01[09:36] {Threei} Short Setup: SLW  .30 break hl
01[09:36] {Threei}  If holds  .40
[09:38] {thomcbell} short setup fcx 32.92 break if holding 33
[09:39] {thomcbell} fcx invalid
01[09:40] {Threei}  no go SLW
[09:40] {cipher} BBBY L .80
01[09:41] {Threei} Short Setup: LVS  .40 break
01[09:41] {Threei}  If holds  .50
01[09:41] {Threei}  1:1
[09:42] {cipher} out BBBY .88 +.08
01[09:44] {Threei} Long Setup:  CAT  .60 break hl
01[09:44] {Threei}  If holds  .50
01[09:44] {Threei}  change to .50 break
01[09:44] {Threei}  If holds  .40
[09:46] {dino} fcn sm l .15
[09:47] {thomcbell} lvs might be a long setup here now vad 54.50 break
[09:48] {dino} stop fcn .85 -.30
01[09:49] {Threei}  a bit listless morning
[09:49] {thomcbell} does that mean liquidity hose with gradual creep will ensue
[09:49] {Les} could be SLW dt here
01[09:50] {Threei}  can't tell really, tbell
01[09:50] {Threei}  there are these sudden rug pulls in SPY
[09:50] {thomcbell} 1:1
[09:50] {thomcbell} lvs
01[09:50] {Threei}  good call LVS
[09:50] {thomcbell} tu
[09:50] {thomcbell} 1:2
[09:50] {cipher} FCN L.57
[09:51] {dino} fcn sm l .70
[09:51] {thomcbell} lvs stop to 54.55
01[09:52] {Threei}  no go CAT
[09:53] {thomcbell} lvs flat last qtr at 54.55
[09:53] {thomcbell} jcp feeling a bit db to me here
[09:53] {thomcbell} too wide
01[09:54] {Threei} Short Setup: SLW  .40 break
[09:54] {thomcbell} y i agree there on slw
01[09:54] {Threei}  If holds  .50
[09:54] {thomcbell} could have made the case for a 0.44 entry
[09:56] {ese} ok greater fool strategy.........L astx .68  if you buy something high somebody else will be stupider and buy it higher......having fun with 1/2 lot here
01[09:56] {Threei}  frikin CAT... rinse
01[09:57] {Threei}  no go SLW
01[09:57] {Threei}  not delighted by this morning
[09:58] {Les} moi non plus got c short for .05 of risk here finally
[09:58] {ese} ok....the strategy works.....wonder if i should take my $5 profit here
[09:59] {ese} opps $5.10 cents
[09:59] {ese} after commision of course
[09:59] {cipher} COST L .22
01[10:00] {Threei}  *(US) FEB WHOLESALE INVENTORIES: M/M: -0.3% V 0.5%E; WHOLESALE SALES: 1.7% V 1.5%E
[10:00] {ese} oh oh..........
[10:00] {nemo} those are good numbers
[10:00] {dino} elli sm l .80
01[10:01] {Threei}  yup
01[10:02] {Threei}  (SI) EU's Barroso: Slovenia faces demanding goal in reform program, confident can meet challenges
[10:02] {ese} just when i think i've got a reverse dino goin on here the thing pauses
[10:02] {nemo} COH might be a nice short
[10:03] {Les} if distribution day we should see run back to VWAP resistance for new short
01[10:03] {Threei}  Herbalife Ltd. KPMG said to be resigning as HLF's auditor due to insider trading allegations against a senior partner - NYT- Reports circulating indicate the KPMG resignation as auditor is due to one of its partners conducting insider trading
01[10:04] {Threei}  NYT reports that Herbalife is poised to disclose on Tuesday that KPMG will have to resign as the companys auditor, following the accounting firms firing of a senior partner, according to a person briefed on the matter. KPMG disclosed late Monday that it had fired the partner, who was based in Los Angeles, for providing inside information to an unnamed individual who then traded in shares of several West Coast companies. The firm did not name the fired partner, but described the individual as having led accounts for some clients in the region.
[10:04] {thomcbell} gnw looks like a short setup - not doing it though
01[10:06] {Threei}  SLW, another rinse
01[10:07] {Threei}  friking CAT did 1:3
[10:07] {thomcbell} lvs nasty
01[10:08] {Threei}  watching GDX for possible dt
[10:09] {ese} out astx .79 +.11......huh go figur.......greater fool theory......someone did buy it from me higher
01[10:09] {Threei} Short Setup: GDX  .40 break
01[10:09] {Threei}  If holds  .45
01[10:11] {Threei}  1:1
01[10:12] {Threei}  oh come on, just a scalp?
[10:13] {Les} given the way miners behaving looking for short of iwm into .50 vwap
[10:14] {Les} SPY just hit vwap
[10:15] {Les} FAS at vwap resistance
[10:15] {Les} let' see
[10:16] {Les} GS sitting on VWAP
01[10:16] {Threei} Long Setup:  C  44 break
01[10:16] {Threei}  If holds  .90
[10:17] {nemo} V looks very short
[10:17] {Les} s iwm
[10:17] {Les} .40/.50
[10:18] {ese} i'm in .92
[10:18] {ese} caught the call a little late
01[10:19] {Threei}  which call
[10:19] {ese} ohhhhh  and read the call wrong.......thought it was .90 break
01[10:19] {Threei}  lol
01[10:19] {Threei}  works anyway
[10:19] {ese} out 1/2 .03 +.11
[10:19] {ese} tks vad
[10:21] {ese} not again
[10:22] {ese} .93 stop balancce break even
[10:22] {ese} C
[10:22] {Les} another small scalp 2H stop IWM
[10:22] {Les} rough morning
[10:22] {ese} thats just your shaving
01[10:23] {Threei}  GS .50 break should give C a push
[10:23] {Les} brain feels like it's been shaved this morning
[10:24] {ese} too late stopped .93+.01
[10:29] {Les} wondering if we're getting a rotation into commodities
[10:30] {Will49} TSX on a tear
[10:30] {nemo} wondering if Les is rotating on his...
[10:30] {Les} ouch
[10:30] {jdetente} haha
[10:30] {Les} indexes at opening levels
[10:32] {Les} small shoirt IWM .60{7.70
[10:32] {Les} .70
01[10:33] {Threei}  ok, let's trail C to .94 now
01[10:33] {Threei}  time to tighten risk on it
01[10:33] {Threei}  it should have been at 1:2 by now
[10:33] {Les} half .51 covered
[10:33] {Les} didn't take it vad. strange behaviour from it
[10:34] {Les} strange behaviour everyhwere
01[10:34] {Threei}  out
[10:34] {Les} iwm vwap support here
[10:36] {Les} IWM fully coered as a scalp
[10:37] {Les} http://stockcharts.com/school/doku.php?st=wyckoff&id=chart_school:market_analysis:wyckoff2
[10:37] {Les} perhaps a wyckoff distribution day
[10:37] {Les} watching vwap support here for indexes
[10:37] {Les} looks like it ain't holding
[10:37] {Les} SPY holding
01[10:38] {Threei} Long Setup:  LVS  55 break
01[10:38] {Threei}  If holds  .90
01[10:39] {Threei}  Invalidated
[10:40] {Les} miners at daily R3
[10:40] {Les} slw anyway
[10:40] {Les} gdx too
01[10:40] {Threei}  LVS was two-sided
01[10:40] {Threei}  thought of it twoo late for a call
01[10:41] {Threei} Short Setup: GDX  .90 break
01[10:41] {Threei}  If holds  36
01[10:45] {Threei}  Invalidated
[10:45] {Les} could be squeeze day for shorts in miners
[10:46] {dino} feels like eggshell market. afraid to make a direction decision
[10:46] {Les} dino while u there
[10:46] {Les} been meaning to ask about BBY
[10:46] {Les} watching it close a gap up around 26.70 I think it was
[10:47] {Les} .50 sorry, from end of march last year
[10:47] {Les} how do you play such a gap closure?
01[10:48] {Threei}  GDX valid again
[10:48] {dino} gaps usually fill, but could take a long time. i prefer fast fills for reversals
[10:48] {Les} or what behaviour do you note when a gap closes?
[10:49] {Les} stock keeps going? turns on a dime?
[10:49] {Les} ok
[10:49] {dino} depends on stock. bby thick. not my style. the thinner ones will fill fast (capits/spikes)and reverse
[10:50] {nemo} fslr short .50?
[10:51] {Les} k
[10:51] {Les} ty
[10:51] {Les} C dumped
01[10:51] {Threei}  yup, glad we tightened it
01[10:52] {Threei}  GDX, your turn
01[10:53] {Threei}  and don't give us that scalp nonsense, 1:3 at least
[10:54] {Les} took .82 half cover. if it's a squeeze trendline bounce is here
[10:58] {dino} mg gap fill
[10:58] {Les} 2H stop
[11:00] {dino} mg sm l .68
01[11:07] {Threei}  holding by fingertips
01[11:09] {Threei}  I officially nominate to day as a day I hate
[11:09] {Les} I'll inform our local authorities and reserve calender space
01[11:10] {Threei}  please
01[11:10] {Threei}  breaking two weeks winning streak
01[11:11] {Threei}  how dare it
[11:11] {dino} stop elli -.15
[11:13] {dino} wtf elli, stop and pops .20
01[11:14] {Threei} Short Setup: JPM  .50 break
01[11:14] {Threei}  If holds  .55
[11:16] {nemo} fast
[11:22] {Les} "most recent Hulbert data showed a recommendation of -31% net short position in gold among the newsletter writers it follows, which is the most negative in its history going back to 1997."
[11:22] {Les} every man and his dog is now bearish
01[11:22] {Threei}  "newsletter writers it follows"
01[11:22] {Threei}  not actual positions
[11:22] {Les} yeh ok
[11:22] {Les} the ones that talk for a living
01[11:23] {Threei}  eqzaktly
01[11:23] {Threei}  professional bsers
01[11:26] {Threei}  reaction of the left to Tatcher death is beyond disgusting
[11:26] {dino} mg stop -.36.
[11:27] {dino} not my morning. taking break
01[11:27] {Threei}  not anyone's it looks like
01[11:27] {Threei}  and these are people preaching tolerance
01[11:27] {Threei}  dancing on the grave, singing "witch is gone"
[11:28] {nemo} you should see the rep on the gun control issue in colorado...what a bitch
[11:28] {Les} yeh dead body being used as a punching bag
[11:28] {nemo} elderly guy says what if there's a home invasion at his home and you've taken all this away,
[11:28] {Les} rep?
[11:28] {nemo} Bitch says, well the cops would be there right away, and you'd probably be dead anyway?
[11:28] {nemo} House of Representatives
[11:29] {nemo} As if the cops are anywhere right away
[11:29] {nemo} and believe me, I have nothing against cops...had a family full of them
[11:30] {nemo} they're just after the fact
01[11:30] {Threei} Short Setup: RY  .35 break hl
01[11:30] {Threei}  If holds  .45
[11:32] {Les} cv .80? short?
[11:32] {Les} c
01[11:32] {Threei}  chart's right
[11:32] {Les} taken hl
[11:34] {nemo} fcx
[11:35] {nemo} might be two way, but have to go with the trend
[11:37] {Les} C vwap is .88 and stupid me 3 min bb support was .80 bb's tightened here. will  hold .90 as stop
[11:37] {nemo} hlf trading again
01[11:38] {Threei}  no biggie, market says
[11:38] {Les} Thatcher poison is interesting look at popular opinion
01[11:39] {Threei}  51% Think Obama More Interested in Increasing Government Spending Than Reducing the Deficit
[11:39] {nemo} what do the other 49% think?
01[11:39] {Threei}  the rest 49% never woke up over last 5 years I presume
[11:40] {Les} of all that talk of Thatcher dismantlement of welfare state, read no explanation of how it would otherwise continued to be paid for, and who would pay
01[11:40] {Threei}  left doesn't care about such minutea details Les
[11:41] {Les} and that's the difference that becoming a trader has made
[11:41] {Les} C just screwed me
01[11:41] {Threei}  they'll live on compassion, tolerance and borrowing
[11:41] {dino} mg rinsed, sheesh
01[11:41] {Threei}  and when no one will lend anymore, they'll default and confiscate whetever rich have
[11:42] {Les} HLF sweet DB
01[11:42] {Threei}  then establish dictature,
01[11:42] {Threei}  and that'll sustain them for another 70 years
[11:43] {thomcbell} marx just a bit early in predictions eh
[11:43] {Les} yeh that I explained to the missus this morning
[11:43] {Les} she did what she had to do, and very few understand it
01[11:44] {Threei}  the most amazing thing to me is:
01[11:45] {Threei}  no matter how many times history shows that it doesn't work, we return to it again and again
[11:45] {Les} HLF BB's tightening around the 38 level here may be a setup coming
01[11:45] {Threei}  squeeze is about to start HLF
[11:45] {Les} Mark and your introduction of Tao was pivotal influence in my change of thinking from linear scientific objectivism to see the world as a cycle
01[11:46] {Threei}  see what you did nemo? created a monster
06[11:46] * nemo faints
[11:46] {Les} hehehe
01[11:46] {Threei}  see what you did Les? killed nemo
[11:46] {Les} no harm done to world
[11:46] {nemo} I fainted...far from dead
01[11:46] {Threei}  HLF squeezes
[11:46] {Les} bunny might starve though
[11:47] {nemo} wait until you see Sunday's blog entry
[11:48] {Les} damn HLF .12 not to expensive anymore
[11:48] {Les} too
01[11:48] {Threei}  .05 was HLF trigger but this is a stock with cipher/dino risk tolerance
[11:48] {Les} but gotten gun shy of such rapid movers
[11:48] {Les} yeh
[11:50] {Les} sm long C .02 if this fails outta here
[11:51] {Les} squeeze mode here or after lunch not sure
[11:59] {Les} damn miners performing beautifully today
[11:59] {dino} dltr sm l .82
01[11:59] {Threei}  US Market Update: US Equities Flat In Listless Trading
01[11:59] {Threei}  no kidding
01[12:00] {Threei}  listless, and I misread the day from the opening on
01[12:00] {Threei}  anyone with stone to throw, now is the time
01[12:01] {Threei}  because tomorrow I'll be back to winning streak, and you'll have missed your chance
[12:01] {backman} sigh...hate when that happens :=)
01[12:01] {Threei}  lol
[12:01] {Les} your batting average better than mine. no stone to throw here
[12:01] {dino} lol
[12:02] {Les} C stop to .95
01[12:02] {Threei}  - US indices have given up their early gains while the continental European bourses are at session lows. Trading volumes remain subpar and there is a distinct lack of catalysts
[12:02] {Les} what was mention of Slovenia premarket? anything concrete?
01[12:03] {Threei}  a few items
01[12:03] {Threei}  Fitch downgrade on Apr 5th,
01[12:04] {Threei}  (SI) OECD report on Slovenia: No immediate need for a bailout; believes �1.0B bank recapitalization may be too low, real cost could be "significantly" higher- Govt must save viable banks and sell them into private hands and let those that are not viable fail - The country risks falling behind in its race to catch up with Western living standards - Forecasts 2013 GDP at -2.1% with 2014 at +1.1%
[12:04] {dino} fcn sm l .20
01[12:04] {Threei}  EU's Barroso: Slovenia faces demanding goal in reform program, confident can meet challenges- There is not indication that Slovenia will be requesting assistance
01[12:05] {Threei}  (duh)
[12:05] {Les} which means its official
01[12:05] {Threei}  Slovenia PM: Govt is initiating privatizations and continuing the process of fiscal consolidation- Comments that Slovenia is not a tax haven. - First bad loans to be transferred to the bad bank in June as part of effort to clean up bad loans
[12:07] {Les} C scratched flat
01[12:08] {Threei}  RY 1:1
01[12:09] {Threei}  I think this first time in my trading career that I short Canadian bank
01[12:09] {Threei}  not that they are sacred, just never came up on a radar
[12:12] {backman} long LIFE .40
[12:20] {cc_9} anyone caught a piece of KERX today ?
01[12:20] {Threei}  we rarely if ever play these cheapies
[12:23] {backman} out LIFE -.06
[12:31] {thomcbell} slow creepy creep tape
01[12:32] {Threei}  (EU) ECB's Asmussen: Probability of an EMU break up is clearly lower than before
01[12:32] {Threei}  I strongly disagree
01[12:32] {Threei}  after Cyprus it became stronger than ever
01[12:33] {Threei}  (EU) ECB's Nowotny: Reiterates that Cyprus bailout was not a template and was a special case- In any bank bailout structure a bank's owners need to share the burden of costs - There is no clear consensus about a European deposit guarantee structure. - Unhappy about Portugal Constitutional Court ruling. - Austerity measures must be in agreement with national constitutions. - Europe's crisis to be very deep, very long lasting
01[12:34] {Threei}  very deep, yes... very long - lasting - dunno, only about as long as you can duct-tape the whole thing
01[13:04] {Threei} Short Setup: HAL  39 break
01[13:04] {Threei}  If holds  .10
[13:08] {Les} s JPM .59 stop .66
[13:10] {thomcbell} long setup kors 55.94 break if holding 55.80 -
01[13:10] {Threei}  sh*t... turns out chewing is an exercise with very low calories burn rate... that's why I can't lose weight!
[13:10] {Les} stop chewing yer food then
[13:11] {thomcbell} kors invalid
[13:17] {Les} meh
[13:17] {ese} rotflol
[13:18] {thomcbell} im going to still use the same entry on kors $55.94 trigger but only half lot due to stop distance
01[13:21] {Threei}  HAL is valid
01[13:21] {Threei}  (IT) Italy Center Left Gov Official: Bersani meeting with Berlusconi went well
01[13:22] {Threei}  hah! bunga bunga party?
[13:22] {Will49} LOL
[13:26] {thomcbell} as an italian american - italian politics never ceases to amaze me
[13:27] {thomcbell} kors 1:1
[13:27] {dino} gj
[13:37] {thomcbell} and thats all she had
01[13:38] {Threei}  Invalidated  HAL
[13:39] {cc_9} Anyone playing HLF ? Big mover here.
01[13:40] {Threei}  dino and cipher are about to get interested I think
01[13:46] {Threei} Short Setup: HAL  .20 break
01[13:46] {Threei}  If holds  .25
[13:52] {dino} i might cc
01[13:52] {Threei}  .55 break was a good long entry
01[13:52] {Threei}  right when we exchanged on that
01[13:53] {Threei}  1:1 HAL
[13:53] {dino} fslr spike
[13:55] {dino} hlf sm l .00
[13:57] {dino} agu drop
[14:01] {cc_9} FSLR whoa
01[14:02] {Threei}  (SI) Slovenia Social Democrat party leader Luksic: Slovenia may need to request a bailout if it faces much more market pressure, still has some tools to avoid a bailout- Slovenia has enough money until September, believe it will be able to raise some money on the world market by then.
01[14:02] {Threei}  ok... it's all but official now
01[14:03] {Threei}  First Solar Inc. Guides FY13 $4.00-4.50 v $3.61e, R$3.8-4.0B v $3.20Be, production 1.6-1.8 GW - analyst day- Sees FY13 op cash flow $800M to $1.0B, capex $350-400M - Sees FY13 gross margin 20-22%
[14:04] {dino} hlf stop -.35
01[14:04] {Threei}  rejoice nemo:
01[14:04] {Threei}  (US) Senate Democrats are said to have enough votes to overcome a potential fillibuster against gun control legislation
[14:05] {dino} cyber, none avail fslr
[14:05] {cc_9} We have people shorting FSLR on our end.
[14:06] {cc_9} Shorts are available.
[14:06] {dino} rub it in
[14:06] {cc_9} Was not the intent lol.
01[14:06] {Threei}  you may wasnt to get a small account on a side dino... for shares inventory expansion :)
01[14:06] {Threei}  want
[14:06] {dino} busting ya
[14:06] {dino} yes, thinking about it
[14:07] {cc_9} FSLR half again I believe.
[14:07] {cc_9} HALT*
[14:08] {dino} hlf sm l .50
01[14:09] {Threei}  yeah, circuit breaker
[14:13] {cc_9} FSLR open again
01[14:17] {Threei} Short Setup: GDX  36 break
01[14:17] {Threei}  If holds  .10
[14:21] {dino} hlf stopped again...some dats the bear eats you
[14:21] {dino} days
01[14:22] {Threei}  windshield day
[14:22] {dino} yeah, and yesterday was noting to brag about. these low volume days are tough
[14:23] {dino} nothing
[14:24] {dino} f'ng rinsed hlf
[14:25] {Les} lucky for me I couldn't short it
[14:37] {dino} look at that prick hlf go
[14:39] {dino} in .90
[14:40] {dino} agu drop
[14:46] {cc_9} SRPT, this thing is super active today
01[15:02] {Threei} Short Setup: BG  .65 break hl
01[15:02] {Threei}  If holds  .75
[15:03] {dino} hlf stop flat
[15:03] {dino} done w/it for today
[15:03] {Will49} admire your persistence
[15:10] {dino} calling it a day. disgusted w/myself
01[15:11] {Threei}  oh come on
01[15:11] {Threei}  not your last, not first
[15:12] {cc_9} T__T
01[15:21] {Threei} Short Setup: GS  .15 break hl
01[15:21] {Threei}  If holds  .25
01[15:21] {Threei}  that was a bit too fast
01[15:30] {Threei}  1:2... anyone managed to catch it?
[15:30] {Les} nah
[15:30] {Will49} no
01[15:35] {Threei}  grrrr
[15:37] {Will49} if only, eh?
01[15:46] {Threei}  BG 1:1
[15:46] {Les} woohoo
[15:46] {Les} s3 here
01[15:48] {Threei}  1:2
01[15:48] {Threei}  doesn't take the day in black but takes some sting out
[15:51] {cc_9} Have a good EOD guys.
01[15:51] {Threei}  take care cc
[15:52] {Will49} tomorrow is another day (thank goodness)
[15:52] {Will49} everybody take the rest of the day off :)
[15:52] {thomcbell} gn all
01[15:52] {Threei}  have a good evening guys, see you tomorrow
[15:52] {Les} cheers tbell
[15:52] {Les} c yas

Apr 08 2013

Low volume day with NYSE trading 20% below 3-months average and NASDAQ 28% (!) Handled it way however, by grabbing our profits early in the day and trimming down activity later on. 1:3 on opening GDX short sure helped to shape up the day.

Session Time: Mon Apr 08 00:00:00 2013

[09:03] {dino} gm

[09:03] {nemo} frickin' optimist...queue cat

01[09:03] {Threei}  lol

01[09:03] {Threei}  dino :)

[09:14] {jdetente} good morning all

01[09:15] {Threei}  jd :)

[09:19] {cipher} gm

[09:19] {Les} evening

[09:19] {backman} gm

01[09:19] {Threei}  cipher, les, backman :)

[09:21] {Will49} gm

01[09:21] {Threei}  will :)

[09:22] {Les} The old guard dying off hey... Thatcher calls it a day

[09:22] {dino} she did a good job

01[09:23] {Threei}  Cyprus extended capital controls for 7 more days

[09:23] {Les} think she had her place in the cycle... good or bad, everyone has their opinion. 

[09:23] {Les} certainly was an agent for change

01[09:24] {Threei}  I don't know how they can ever end it

[09:24] {Les} Iceland still has capital controls after 5 years

01[09:24] {Threei}  the day they do money flies

[09:27] {Alexs} gm

01[09:27] {Threei}  alex :)

01[09:28] {Threei}  no clear opening candidate, wastching usual suspects

01[09:29] {Threei}  shorting GDX at 35 break is always an option of course, lol

01[09:29] {Threei}  but hope it gives us just a hint of consolidation first

01[09:30] {Threei} Short Setup: GDX  35 break

01[09:30] {Threei}  If holds  .10 

[09:31] {Les} short C .04 holding .15

01[09:32] {Threei}  good one

[09:32] {Les} q .85 half .95

[09:32] {Les} seems to be standard response to prior day's squeeze

01[09:32] {Threei}  GDX 1:1

[09:33] {cipher} gild l .95

[09:33] {thomcbell} lvs big pop there 

01[09:34] {Threei}  1:2

[09:34] {cipher} WFM L.89

[09:35] {ese} morning...got to engrossed in reading the news forgot to watch the opening and sign in

01[09:35] {Threei}  1:3, out

01[09:35] {Threei}  ese :)

[09:35] {Will49} great start Vad tks

01[09:35] {Threei}  yw

[09:36] {jdetente} yes thank you

[09:36] {cipher} TNA L .06

01[09:36] {Threei}  :)

[09:36] {cipher} out WFM .19 +.30

01[09:36] {Threei}  couple more months like this, and I won't be able to live without GDX short as Dr Watson without Holmes's pipe

[09:37] {cipher} out TNA .20

[09:37] {ese} did you nail gdx will.......well done

[09:37] {Will49} yea man

[09:37] {Will49} textbook

[09:37] {cipher} out GILD +.08

[09:37] {ese} best of lboth worlds......it's got the dino bounce as well

[09:39] {cipher} INTU L.16

[09:39] {cipher} out .42

01[09:39] {Threei} Long Setup:  AFL  .20 break hl

01[09:40] {Threei}  If holds  .10 

01[09:41] {Threei}  1:1

[09:41] {cipher} ctxs l .14

[09:42] {cipher} out .99 -.15

01[09:43] {Threei} Short Setup: CWH  .85 break

01[09:43] {Threei}  If holds  .95 

[09:44] {nemo} wow, thin trader

01[09:45] {Threei}  thank you, I am dieting

01[09:45] {Threei}  and working out

[09:45] {Les} good one

[09:45] {nemo} rim shot ese

[09:45] {Will49} hahaha

[09:45] {Les} morning nemo

[09:45] {nemo} ;-(

[09:46] {Les} :)

[09:46] {Les} how's bunny?

01[09:46] {Threei} Short Setup: BBRY  .85 break

01[09:46] {Threei}  If holds  .95 

[09:48] {dino} viab sm s .05

[09:48] {thomcbell} lvs very impressive - a dollar since my last post 

01[09:49] {Threei}  let's trail CWH to .91

01[09:49] {Threei}  takes way too long

[09:51] {nemo} bunny is fine

01[09:51] {Threei}  we need to hear it from her

[09:52] {nemo} I'll see if I can get her to the keyboard

[09:52] {Les} yeh I'm wondering how many times she's been stewed and simply replaced

01[09:53] {Threei}  out CWH

[09:53] {Will49} careful Les...you're playing with fire

[09:54] {Les} wow LVS

[09:54] {nemo} Komrade:  http://bit.ly/Y7Vsoa

[09:54] {cipher} IBB L .92

01[09:55] {Threei}  this is beyond laughable:

01[09:55] {Threei}  (CY) EFSF: Cyprus has applied to become stepping out guarantor, request will be considered by the remaining guarantors

[09:55] {cipher} josb l .72

[09:55] {ese} L mtg .02

[09:56] {Les} RIG short .80 holding .90?

01[09:56] {Threei}  so if they say no Cyprus remains a guarantor

01[09:56] {Threei}  and its guarantee no doubt weighs a lot

01[09:56] {Threei}  yes RIG but hl

[09:56] {backman} c ndl

[09:57] {Les} yeh right

[09:57] {dino} cov viab .75, +.30

01[09:58] {Threei}  lunacy is expanding at the rate I've seen only in good ole USSR times:

01[09:58] {Threei}  (EU) EFSF is planning to sell five-year bonds

[09:58] {cipher} tna l .59

01[09:59] {Threei}  think about it: entity that is created with sole purpose of financing countries who can't carry their debt and sell bonds, starts issuing its own bonds

[09:59] {thomcbell} mtg daily chart shaping up 

[09:59] {backman} out c -.03

[10:00] {ese} out mtg .18 +.16

[10:01] {thomcbell} nice ese e

[10:01] {Will49} good one

[10:01] {cipher} out tna -.13

[10:01] {Les} ah ok, forgotten which acronym EFSF was

[10:01] {ese} tks T

[10:01] {ese} will

[10:01] {Les} yeh ponzi piling on ponzi

[10:01] {cipher} out ibb -.16

[10:02] {ese} Les?

[10:02] {Les} responding vad

[10:02] {ese} I'm going to be in Denmark on Thursday this week.......ya coming up to see me or what?

[10:03] {Will49} stay out of trouble

01[10:03] {Threei}  I thought it was summer trip?

[10:03] {Les} BBY short .20?

01[10:03] {Threei}  too bad RIG got away, nice short

[10:03] {Les} hl?

01[10:04] {Threei}  BBY looks two-sided... can be a double bottom here just as well

[10:04] {Les} k

[10:05] {cipher} conn l.40

[10:06] {dino} elli sm l .91

[10:06] {Les} sm short bby

[10:07] {Les} stop .30

[10:07] {Les} no go

[10:07] {cipher} srcl l.70

[10:08] {ese} repeat the question......I'm going to be in Denmark on Thursday this week.......ya coming up to see me or what?

[10:08] {ese} Les?

[10:08] {Les} Denmark?

[10:09] {Les} why not Mongolio? same thing

[10:09] {ese} lol

01[10:09] {Threei}  lol

[10:09] {ese} bastard......pretends to be a friend

01[10:09] {Threei}  ese goes by continents Les, not by countries

[10:09] {ese} L mtg .12

[10:09] {cipher} tna l .61

[10:09] {Les} you come to Montreux Jazz ese, I'll come say hello

[10:09] {Will49} carefil Les, there are Vikings still raoming the earth

[10:09] {Will49} roaming

[10:10] {cipher} out tna .78

[10:10] {ese} there was talk of the University of Regina Big Band doing a reunion thing back there.....haven't heard of anything more about it thought

01[10:10] {Threei}  next time you are in Missisauga, ask ese to come and see you, Les {G}

[10:10] {Les} :) have to look that one up on the map

[10:11] {Les} miners are running

01[10:11] {Threei}  good 5 thou km from us :)

01[10:11] {Threei}  die already BBRY

[10:12] {ese} Missisauga?........epicenter of the earth ...everybody knows that

[10:12] {Will49} LOL

[10:12] {ese} mtg.....show that same momo

[10:12] {ese} me ...me  me me.....ya hear

[10:14] {cipher} out SRCL .11 +.41

[10:14] {Will49} good one

01[10:14] {Threei} Short Setup: GDX  .15 break

01[10:14] {Threei}  If holds  .25 

[10:14] {dino} volume light? scanners barely moving

01[10:15] {Threei}  on a low side, yeah

01[10:15] {Threei}  and range is narrow

01[10:15] {Threei}  1:1

[10:15] {ese} dated a girl from Missisauga once........she owned her own travel agency.....ACME travel........1980/81

[10:16] {cipher} lbtya l .67

[10:17] {dino} used to work w/that coyote guy on tv, huh ese/

[10:17] {ese} lol

[10:18] {dino} mkt drop

[10:18] {cipher} out lbtya - .06

01[10:18] {Threei}  BBRY retest of the low, trail to .91

[10:19] {ese} hmmmmmmmm mtg momo might be gone

[10:20] {ese} an na da merket ain't helpin it none

[10:24] {thomcbell} yet another 5.15 deal price failure on mtg?

[10:24] {cipher} QCOR L .00

[10:26] {dino} dlx spike

01[10:27] {Threei} Short Setup: C  .55 break

01[10:27] {Threei}  If holds  .65 

[10:28] {Les} shorting miners here. just lost trendline support. market might bounce

[10:29] {dino} dlx sm s .50

[10:29] {thomcbell} long setup ago 20 break if holding 19.92

[10:29] {Les} covered +.15

[10:29] {Les} slw

[10:29] {cipher} TNA L .53

[10:30] {backman} 3:1 GDX....can i go home now?

01[10:30] {Threei}  wow

01[10:30] {Threei}  1:1 BBRY, believe it or not

01[10:30] {Threei}  wtg backman

[10:32] {Les} too early shorting BBY I see

[10:32] {dino} cov dlx .34, +.16

01[10:32] {Threei}  dino, to answer your volume question:

01[10:32] {Threei}  NYSE volume 120M shares, about 20% below its three-month average; . - NASDAQ volume 295M shares, about 28% below its three-month average

[10:32] {Will49} congrats backman

[10:33] {Les} might call it a day then Vad

[10:33] {Les} no good playing low volume days for me

01[10:33] {Threei}  I dunno... so far so good

[10:33] {Les} mornign take is adequate

[10:33] {ese} out mtg .09 -.03    bastard

[10:33] {dino} thx vad

[10:34] {dino} gj batman

[10:34] {backman} tu

01[10:34] {Threei}  let's just not push too much, handle it leisurely

[10:34] {Les} k, while volatility remains reasonable

[10:36] {Will49} would straight scalping be a strategy for low volume days?

01[10:36] {Threei}  when the morning volaility is over, yes

[10:36] {Will49} tks

01[10:36] {Threei}  and of course maintain the profit preservation routine

[10:37] {Will49} amen

[10:37] {dino} q1cor blood

01[10:40] {Threei}  1:2 BBRY

01[10:40] {Threei}  life becomes more exciting

[10:40] {Les} laser seems the go to for borrowing BBRY never once got it

[10:41] {Will49} I couldn't borrow BBRy on Laser

[10:41] {Will49} Vad beet me to it

01[10:41] {Threei}  limited availability...

[10:41] {Will49} beat

[10:41] {Les} ah ok

01[10:42] {Threei}  it changes... remember when GDX wasn't available for many?

[10:42] {Les} new SLW short .95?

[10:42] {Les} holdig .05?

01[10:43] {Threei}  looks like, yes

[10:45] {Les} indexes testing vwap, so could turn on us

[10:45] {Les} finnies leading higher

[10:46] {ese} L wft .55

[10:46] {cipher} FFIV L .76

[10:46] {cipher} TNA L.53 (late)

[10:47] {cipher} out TNA .03 +.50

01[10:49] {Threei}  wtg

[10:51] {cipher} TNA reload .82

[10:52] {cipher} out LSTR .30 +.16

[10:55] {ese} somebody said earlier that theres no volume to move the mrkt........am starting to think that.....right chart patterns in a couple of stocks here but nothing want to move

[10:55] {Les} stopping here for the morning and keeping an eye on the miners for later. Could be revisit of last weeks lows shortly enough

[10:55] {ese} wants

[10:56] {cipher} out FFIV .94 +.18

[11:02] {dino} gj ciph

[11:02] {cipher} out TNA .69 -.13

[11:02] {ese} good one C

[11:03] {dino} elli to flat

[11:05] {dino} out elli .95+.04

[11:06] {backman} long GDX from .72

[11:09] {cipher} CONN L.63

[11:10] {thomcbell} stop on ago to 19.95 

[11:10] {thomcbell} bored to tears 

[11:10] {dino} me too

01[11:10] {Threei}  want me to introduce some entertainment?

[11:11] {dino} dancing girls?

[11:12] {cipher} TNA L.65

[11:12] {thomcbell} long setup afl - 48.80 brak if holding 48.70

[11:13] {ese} finally wft +.01.........the momentum here is killing me

[11:13] {thomcbell} i kept it up vad what do u think?

01[11:13] {Threei}  chart is right but way too slow...

[11:14] {thomcbell} yes - too obvious to work meaningfully

01[11:16] {Threei} Short Setup: GLD  .80 break hl

01[11:16] {Threei}  If holds  .90 

[11:17] {cipher} tna stopped .69 +.04

01[11:22] {Threei}  1:1

[11:23] {cipher} out CONN .80 +.17

[11:25] {thomcbell} afl worked vad 

[11:25] {thomcbell} without us

01[11:26] {Threei}  oh well

[11:26] {thomcbell} agreed

01[11:26] {Threei}  so many things happen without us...

01[11:26] {Threei}  it's just one more

01[11:31] {Threei}  for instance there are three orcas right now, right next to the Sidney pier where I am almost daily on my walk... and I am not there,

[11:31] {cipher} IBM L.02

[11:31] {nemo} should invite Les for a swim

01[11:31] {Threei}  lol

[11:32] {cipher} out IBM .13 +.11

[11:33] {dino} dlx sm s .70

[12:00] {backman} out CAT 1:1....anybody ever think about doing this 4 a living :=)

01[12:00] {Threei}  hmmm... interesting concept

[12:01] {dino} lol

01[12:01] {Threei} Short Setup: C  .80 break

[12:05] {cipher} AMBA L .85

01[12:07] {Threei}  Royal Bank of Canada went from the most respected to most despised within 24 hours

01[12:07] {Threei}  boycott, closing of accounts, online fury

[12:08] {dino} ?

01[12:09] {Threei}  apparently they closed about 45 positions in IT, hiring foreign workers instead

01[12:09] {Threei}  one of the fired went public

01[12:10] {Threei}  explosion of the outrage is hard to comprehend

01[12:12] {Threei}  facebook page "boycott rbc" went from scratch to 3117 likes in one day

[12:13] {cipher} IBM L .02

01[12:13] {Threei}  RY is the symbol

[12:13] {cipher} finnies trying to bounce

01[12:24] {Threei}  volume 19% NYSE and 29% NASDAQ below 3-months average

01[12:25] {Threei} Short Setup: HPQ  .70 break

01[12:26] {Threei}  now, significance wise it's a halt of the century: MNGA is halt

01[12:26] {Threei}  halted

01[12:26] {Threei}  on a circuit breaker, no less

[12:26] {dino} dlx stop -.36

01[12:26] {Threei}  am I the only one who finds it funny?

[12:27] {dino} .90, yeah, a riot

01[12:27] {Threei}  whew

[12:29] {Will49} sorry...stepped away

[12:29] {Will49} HAHAHA

01[12:29] {Threei}  sigh

[12:30] {Will49} is that sigh for C?

01[12:31] {Threei}  nah, C is merely invalidated

[12:31] {Will49} so why the big sigh?

01[12:31] {Threei}  just felt like a sigh moment

[12:32] {Will49} you're allowed

01[12:32] {Threei}  yup, it's a free country after all, right?

01[12:32] {Threei}  after decades of not being able to sigh freely, feels like such a relief

[12:35] {Will49} yes, that's one of our shrinking number of freedoms

[12:36] {ese} am outta here......cya tomorrow....to many things to get ready for if Les is going to meet me in Denmark this week............eh eh eh eh

[12:36] {Will49} be good ese

01[12:36] {Threei}  take care ese

[12:36] {ese} cya will

[12:36] {ese} vad

[12:59] {Will49} would tightening stop to .76 make sense in view of clamping BB's?

[12:59] {Will49} HPQ

01[13:00] {Threei}  increases chance of a shakeout...

01[13:00] {Threei}  if it retests the low from here, then yes

[13:00] {Will49} ok

[13:01] {dino} boil drop

[13:05] {cipher} BOIL +.27 thx dino

[13:07] {dino} gj, where'd you hit it/

[13:07] {dino} ?

[13:09] {cipher} out IBM .27 +.25

[13:10] {cipher} dino  in .09 out .36

[13:10] {cipher} on the first drop

[13:14] {Les} GDX .60 short holding .70{'

[13:14] {Les} ?

[13:14] {Les} maybe not yet

[13:14] {dino} thx cipher, was trying to figure out entry on it

[13:16] {cipher} np

01[13:16] {Threei}  U'd try it Les

01[13:16] {Threei}  I

[13:16] {Les} you'll try it for me?

[13:16] {Les} and share profits?

[13:16] {Les} take losses yourselfr?

01[13:16] {Threei}  nope

[13:17] {Les} socialism's a bitch

01[13:17] {Threei}  I'll try it for myself, you for yourself... and if you want privatized priofits and socialized losses, apply to Obama {G}

[13:17] {Les} :)

[13:18] {cipher} missed boil damn

[13:31] {nemo} grind up in progress

[13:33] {nemo} we're just walking up the trends from Friday

[13:35] {Les} C not showing the enthusiasm of Friday, but might oblige longs here at 43

[13:36] {Les} nah bollinger bands are tighter than a virgin bunny here

[13:36] {nemo} interesting analogy...don't you mean a wombat?

[13:36] {Les} thinking of you

[13:37] {nemo} yeah, that's what worries me

[13:37] {Les} hehehe

[13:38] {nemo} o.k. if they want to keep going higher, they need a little flush here

[13:44] {dino} elli l .20

01[13:44] {Threei}  HPQ no worky

01[13:44] {Threei}  GDX looks good though

[13:45] {Will49} gawd...that HPQ was a painfully long short

01[13:45] {Threei}  lol

[13:50] {Les} hpq vwap resistance .84

01[13:53] {Threei}  random drifting

[14:04] {Les} cutting GDX +.01 dinner

[14:48] {Les} interesting xlp and xly both at round numbers

[14:51] {dino} atk jump

[15:14] {Les} jpm sm. long .27

[15:14] {Les} stop under .20

[15:18] {Les} stop +.01 outta here

[15:18] {Les} this is more brain deadening than listening to Nemo

[15:18] {Les} c u's tomorrow

[15:19] {Les} maybe turnaround tuesday

01[15:19] {Threei}  take care les

[15:19] {jdetente} take it easy Les

01[15:20] {Threei}  Will... remember you once asked whether it's possible to detect low volume narrow day early and adjust accordingly

01[15:20] {Threei}  today we did just that

[15:20] {Will49} yes

[15:21] {Will49} wonder how good an indicator

[15:21] {Will49} looking back in my journal, there were some great days with low volume

01[15:23] {Threei}  dependas on how it's handled

01[15:23] {Threei}  if you push aggressively and try to play breakouts all day long, will be disastrous day

[15:24] {Will49} makes sense

01[15:24] {Threei}  if you grab normal morning profits, then cut down activity anf play ranges, and keep your positions low, take scalps, trail account stop, can be a great day

[15:26] {thomcbell} mtg wowee

01[15:37] {Threei} Short Setup: JPM  .35 break

01[15:37] {Threei}  If holds  .40 

01[15:40] {Threei}  meh

01[15:50] {Threei}  Ok guys, thank you all

01[15:50] {Threei}  have a good evening, see you tomorrow

[15:50] {Will49} peace

[15:59] {dino} out elli .20, flat.

[15:59] {dino} gn all