Friday, January 6, 2012

Jan 06 2012

Super-saver Combos available now: http://www.realitytrader.com/supersaver.html

With 6 out of 6 today, "excessive profits" goal planned for today has been achieved. Jokes aside, it was like fish in a barrel today. Thought I'd share Catch of Day, trade right out of 111 Trades course pages (most of today's trades are):




Session Time: Fri Jan 06 00:00:00 2012
[08:31] {Threei}  (US) DEC UNEMPLOYMENT RATE: 8.5% V 8.7%E; lowest reading since Feb 2009
[08:31] {Threei}  *(US) DEC CHANGE IN NONFARM PAYROLLS: 200K V 155KE; CHANGE IN PRIVATE PAYROLLS: 212K V 178KE- Change in Manufacturing Payrolls: +23K v +6Ke
[08:41] {Threei}  spanish 10-yr yield +60 bps this week, the biggest rise since 1994
[09:00] {Threei}  US) Fed's Dudley: US economic recovery is frustratingly slow; it would be appropriate to consider additional easing to assist the housing market
[09:01] {Threei}  dudley dudley... nothing ever teaches some, does it
[09:03] {swill} what can you do?
[09:04] {Threei}  not much
[09:05] {swill} lol
[09:05] {Threei}  :)
[09:05] {Threei}  see, there are many categories of fools
[09:05] {Threei}  one of the least dangerous is a, uneducated fool with no authority and no initiative
[09:06] {Threei}  one of the most dangerous is educated fool with authority and initiative
[09:07] {swill} what if they undrestood human natue better?
[09:07] {Threei}  who? fools??
[09:07] {Threei}  they wouldn't be fools then...
[09:08] {swill} lol
[09:08] {Threei}  it's not even that they don't understand...
[09:08] {JK13} gm
[09:08] {Threei}  JK :)
[09:08] {Threei}  they are just focused on things that they shouldn't... like, next election...
[09:09] {Threei}  but what can you do, it's kind of built in the democracy
[09:09] {Threei}  which is horrible way to run things
[09:10] {swill} the old greeks would would asses the politition every year with a committee
[09:11] {Threei}  and to get on that committee was a matter of politicking and killing thy neighbor... {G}
[09:12] {Threei}  because you know what a camel is, right?
[09:12] {swill} what?
[09:12] {Threei}  horse designed by a committee
[09:13] {swill} i see
[09:14] {stewy} gm everyone
[09:14] {Threei}  stewy :)
[09:17] {dino} gm
[09:17] {Threei}  dino :)
[09:20] {RonS} hello and good morning everyone
[09:21] {Threei}  ron :)
[09:21] {Threei}  so... good unemployment numbers don't impress market much anymore
[09:21] {Threei}  gone are the times when it was major focus
[09:22] {RonS} cds spread up across the board...ted spread still trending higher
[09:23] {Threei}  yes, this is what takes the scene now
[09:23] {Beau} gm all
[09:23] {Threei}  Beau :)
[09:23] {Threei}  looming EU collapse overrides everything
[09:23] {Threei}  now, you hear this here first:
[09:24] {Threei}  while Fed etc say they fear EU breakdown will kill US economy,
[09:24] {Threei}  reality id: they only fear it happens before 2012 elections
[09:24] {Threei}  other than that, they see it as a gift
[09:24] {Threei}  and the reason is:
[09:25] {Threei}  when Euro goes down in flames, USD spikes to untold highs,
[09:25] {Threei}  and this opens a lot of room for them to print, print anmd print
[09:25] {Threei}  without killing USD
[09:25] {Threei}  and there is nothing that they want to do more than print
[09:26] {dino} exactly, salvation thru inflation
[09:26] {Threei}  in a paradox way, this economic disaster will allow they to solve a lot fo theior problems
[09:26] {Threei}  they = them\
[09:27] {Threei}  right, but the beauty of this situation is:
[09:27] {Threei}  they can do that without causing most of negatve consequences of garden variety inflation
[09:27] {Threei}  9in case of Euro disintegration I mean)
[09:28] {Threei}  "beauty" is tongue in cheek of course
[09:28] {Threei}  ok... so far, usual suspects on radar
[09:30] {Threei} Short Setup: FCX  .45 break half lot
[09:31] {Threei}  if stays under .60
[09:32] {Threei}  invalidated, l,ooking for different entry
[09:32] {Threei}  .50 break
[09:33] {Threei}  if stays uner .65
[09:33] {Threei}  if goes above it, abandonign thne idea for now
[09:33] {Threei}  ok, triggered
[09:34] {thomcbell} ups on long radar for me vad
[09:35] {dino} stop fcx -.12
[09:36] {Threei}  die FCX, it's time
[09:37] {Threei}  why stop before stop hit, dino
[09:37] {dino} that was my area
[09:37] {dino} fl
[09:37] {Threei}  oh
[09:38] {Threei}  .45 is FCX last line of defense
[09:38] {dino} worth re-loading?
[09:38] {thomcbell} ups 73.30 break long
[09:38] {thomcbell} 73.20 stop
[09:38] {Threei}  finally
[09:39] {Threei}  stop to .61
[09:39] {ese} morning
[09:39] {Threei}  ese :)
[09:39] {thomcbell} lvs getting smacked
[09:40] {Threei}  1:1, half out
[09:40] {thomcbell} out ups
[09:40] {Threei}  scalpers be out and happy
[09:40] {stewy} ty fcx took a scalp
[09:40] {Threei}  :)
[09:40] {rambler} morning...
[09:40] {Threei}  rambler :)
[09:40] {dino} cov fcx .34, +.15 ty vad
[09:41] {Threei}  welcome :)
[09:41] {Threei}  took it second time I see
[09:41] {Threei}  1:2 baby
[09:41] {Threei}  me out
[09:41] {Threei}  FCX and I, friends again
[09:41] {dino} gj
[09:41] {Threei}  ty
[09:41] {JK13} tks Vad
[09:41] {Threei}  welcome
[09:42] {dino} 07 red
[09:42] {thomcbell} ups WTF
[09:44] {cipher} +.23 FCX thx vad
[09:44] {Threei}  :)
[09:44] {Threei}  no idea UPS, no news
[09:45] {dino} ups mkt perform wells
[09:46] {dino} iart capit
[09:46] {Threei}  watching LVS for short entry
[09:46] {Threei} Short Setup: LVS  .65 break
[09:47] {Threei}  change to .70 break
[09:47] {Threei}  if stasysd under .80
[09:47] {Threei}  target 1:2
[09:48] {Threei}  maybe more, not sure yet
[09:48] {Threei}  1:1, half out
[09:48] {Threei}  scalpers, don't even talk to me
[09:48] {Threei}  you are too happy, I can't watch this
[09:48] {Threei}  scalpers win
[09:49] {Threei}  out second half on trail
[09:49] {dino} iart sm l .50
[09:49] {thomcbell} wynn really getting smacked
[09:49] {thomcbell} down 3%
[09:50] {Threei} Short Setup: SLW  .55 break
[09:50] {Threei}  if stays under .65
[09:50] {Threei}  grrr LVS... rinsed second half
[09:50] {dino} stop -.31
[09:51] {Threei}  SLW, .55 is semi-aggressive entry for .50 breakdown
[09:51] {Threei}  awwww LVS
[09:51] {Threei}  can I have mulligan
[09:51] {Threei}  1:3 as foretold
[09:52] {Threei}  ok SLW
[09:52] {Threei}  be good
[09:52] {thomcbell} got it good lvs thanks vad
[09:52] {Threei}  welcome sir
[09:52] {Threei}  played it better than I did
[09:52] {Threei}  1:1 SLW
[09:52] {Threei}  half out
[09:52] {thomcbell} the wynn weakness kept me in
[09:52] {Threei}  and don't even tell me you scalped it
[09:52] {Threei}  right, I didn't look at it at the time
[09:52] {thomcbell} no got almost 3:1
[09:52] {Threei}  1:2 SLW
[09:53] {dino} iart still think bvreak .50 trig l
[09:53] {Threei}  a bit too sharp... out in full
[09:53] {dino} pulp
[09:54] {Threei}  as soon as you mentioned WYNN I thought LVS should work now after rinsing me out, lol
[09:54] {ese} iart bouncing now dino
[09:54] {Threei}  but OK, SLW compensated me
[09:54] {dino} wpi spike, yesterday too
[09:54] {thomcbell} excellent slw VAD wtg
[09:54] {Threei}  ty
[09:55] {Threei}  chart right from 111 Trades pages
[09:55] {thomcbell} delicious really
[09:55] {rambler} out LVS
[09:55] {rambler} thanks Vad
[09:56] {Threei}  welcome... was I the worst manager of LVS trade in the room?? :)
[09:56] {dino} db maybe ese
[09:56] {thomcbell} its ok keep spitting em out Vad
[09:56] {thomcbell} very good idea flow
[09:56] {ese} ya
[09:56] {Threei}  apparently... neighbor's dog just walked by my window and barked "boy, did you screw that trade up"
[09:57] {rambler} lol
[09:57] {thomcbell} weird action - aapl up fdx up amzn up almost 2%
[09:57] {stewy} yer makin me feel good vad with that
[09:57] {Threei}  uh oh
[09:57] {Threei}  please never tell nemo that... he will lose all respect for me... making people feel good is mortal sin in his book
[09:57] {stewy} hey i'll take two for three so early
[09:58] {Threei}  watching X
[09:58] {Threei} Long Setup:  X  .70 break
[09:59] {dino} wpi sm s .97
[09:59] {Threei}  if stays above .60
[09:59] {Threei}  invalidated
[10:00] {Threei}  watching if can be recalibrated'
[10:00] {Threei} Long Setup:  X  .65 break
[10:01] {Threei}  if stays above .55
[10:01] {Threei}  and that's last recalibration, if this one invalidates whole idea is wrong
[10:01] {Threei}  ok
[10:01] {Threei}  target .90 or so
[10:01] {Threei}  two partials
[10:02] {Threei}  1:1, first one out
[10:02] {dino} wpi stop -.04
[10:02] {ese} s iart .02
[10:02] {Threei}  stop to .59 for now
[10:03] {ese} stopped .11 -.09
[10:03] {Threei}  to .64 now
[10:03] {ese} thought i'd give it a try
[10:03] {Threei}  to .69 now
[10:03] {Threei}  trailing dino style
[10:04] {ese} wasn't quick enough......had .12 in my pocket
[10:04] {Threei}  chockin it with trailing stop
[10:04] {dino} at .79
[10:05] {dino} out +.14 x, ty vad
[10:05] {stewy} x is sweet ty
[10:05] {Threei}  welcome :)
[10:05] {Threei}  4:4?
[10:05] {Threei}  let's go home?
[10:06] {rambler} o.k. lets not....
[10:07] {Threei}  lol
[10:08] {dino} hes l .10
[10:09] {Threei}  what else is new... last time I was allowed to leave the game and go home was in university times during drinking game, when it became clear that I can drink more than we had in stock... so my schoolmates let me out to save the liqour
[10:10] {swill} ah the good old days
[10:10] {rambler} somehow I can visualize all that.....
[10:11] {Threei}  well, the difference was, I didn't want to leave...
[10:12] {swill} look at you now
[10:13] {Threei} Short Setup: LVS  .05
[10:13] {Threei}  if stasys under .15
[10:13] {Threei}  keep;ing an eye on WYNN for guidance
[10:15] {Threei}  action has slowed down significantly
[10:15] {dino} psmt
[10:15] {ese} L iart .97
[10:17] {Threei}  Morgan Stanley on job report strength:
[10:18] {Threei}  "some of the strength in this report should be discounted because of an seasonal quirk in the courier category of payrolls (Fed-ex, UPS, etc). Jobs in this sector jumped 42,000 in December, repeating a pattern seen in 2009 and 2010. We should see a payback in next month's report."
[10:19] {rambler} LVS still on Vad?
[10:19] {Threei}  I think so, yes
[10:19] {Threei}  barely tests above .15 and drops back
[10:20] {dino} psmt sm l .50 pulp
[10:20] {rambler} dirty dog...
[10:21] {Threei}  let's change it a bit
[10:21] {Threei}  aggressive entry, .10 break, if stays under .20 and if WYNN starts new downward leg
[10:21] {Threei}  above .20 whole idea is off
[10:22] {stewy} rimm breakout?
[10:22] {Threei}  nah, not delighted
[10:22] {rambler} would this have been a candidate for 2 sided setup?
[10:22] {Threei}  too narrow
[10:22] {stewy} thot it might be one of them there salmon
[10:23] {Threei}  you kno what looks good? WFC
[10:23] {Threei}  look at 1 min
[10:23] {Threei}  .80 break, ain't she a beauty of a chart
[10:24] {Threei}  course readers can identify it I am sure
[10:25] {rambler} you in?
[10:25] {Threei}  yes
[10:25] {thomcbell} qcom impressive relative strength
[10:25] {Threei}  stop under .70
[10:25] {dino} psmt to .01
[10:26] {cc_8} what are u guys in
[10:27] {Threei}  good morning... we already won 4 trades, so you are just in time for our first stop, LOL
[10:27] {Threei}  WFC
[10:27] {Threei}  .80 break, stop under .70
[10:28] {dino} out psmt +.50
[10:29] {ese} stopped iart .70 -.28
[10:29] {dino} iart gut says 25 area
[10:30] {ese} ya....was L sm....no biggie
[10:32] {dino} wpi sm s .40
[10:33] {dino} bstop .56
[10:37] {stewy} 1.1 wfc half out ty
[10:37] {Threei}  welcome sir
[10:38] {swill} good job.  i'm away for a while
[10:38] {stewy} was entry under .80 aggressive?
[10:39] {dino} psmt drop
[10:39] {Threei}  under .80, yes
[10:39] {dino} kop sm l .60
[10:39] {Threei}  argh LVS
[10:39] {Threei}  this thing got away
[10:40] {stewy} out wfc
[10:40] {Beau} thanks Vad, 1:1 wfc and happy
[10:40] {Threei}  :)
[10:41] {Threei}  yesterday's trading log was accompanied with this comment:
[10:41] {Threei}  Fair day: profitable but without excesses. We like excesses on profit side though, so let's see if we can make it excessive tomorrow.
[10:41] {Threei}  I'd say mission accomplished
[10:41] {Threei}  now, let me address you to this article:
[10:42] {Threei}  http://blog.realitytrader.com/2011/10/profit-how-do-you-handle-it.html
[10:42] {Threei}  this is how we need to approach the rest of the day
[10:44] {Threei}  what I like the most about today:
[10:45] {Threei}  have yoy noticed how trade after trade was right from the course pages?
[10:47] {rambler} great read Vad....pretty much nails it....
[10:48] {Threei}  ty
[10:51] {Threei}  1:2, out WFC
[10:53] {Threei}  New Hampshire: Romney 42%, Paul 18%, Santorum 13%, Huntsman 12%.
[10:54] {Threei}  I'll make prediction... they are all flash-in-the-pan, Romney is a nominee
[10:54] {dino} psmt smr l .22
[10:57] {dino} stop -.30
[10:58] {cipher} l psmt sm .81
[10:58] {rambler} look WFC....you couldn't have squeezed another penny out of it...WTG
[10:59] {cipher} out 1/2 .00 +.19
[11:00] {dino} rinsed
[11:00] {cipher} out rest psmt .25  +.44
[11:01] {dino} wtg
[11:01] {cipher} too soon :(
[11:02] {dino} things all over the place
[11:03] {dino} iart sm l .65
[11:05] {dino} wpi spike
[11:08] {dino} sm s .40
[11:08] {dino} stop -.16
[11:08] {dino} wtf
[11:09] {dino} f'ng rinses today
[11:10] {rambler} this got me yesterday, last trade....
[11:10] {rambler} this one..WPI
[11:11] {thomcbell} we havent been playing these cheapies lately - but simg trades real well
[11:11] {thomcbell} like the volume spikes
[11:11] {rambler} the term "rinse" now is clear to me...
[11:12] {dino} it sucks
[11:12] {rambler} lol
[11:13] {rambler} kind of a sick, painfull lol....
[11:16] {cipher} dino you had the right idea on wpi
[11:16] {RonS} qotd:  US Navy just rescued 13 Iranian sailors in the Arabian Sea. Wonder if Iran will now toss them back out of the nest like a mama bird
[11:16] {cipher} if that makes you feel better...
[11:19] {rambler} Vad, is it possible to print up the booklet from 111 Trades...?
[11:20] {dino} yeah, see that, my stops are too tight today it seems
[11:20] {Threei}  no rambler, sorry
[11:22] {Threei}  (FR) France Official: Has not been notified about a potential downgrade by any ratings agency at this time - financial press
[11:27] {Threei}  5 xougar sightings in 3 nights, all in very densely populated area
[11:27] {Threei}  cougar
[11:27] {dino} kop to .99
[11:28] {RonS} robber to .01?
[11:28] {Threei}  rofl
[11:28] {dino} watch out for those old ladies vad'
[11:29] {Threei}  lol
[11:29] {Threei}  they are not old dino... they are mature
[11:30] {dino} psmt smr l .50
[11:30] {dino} ;)
[11:35] {dino} out kop .00, +.40
[11:36] {Threei}  I dunno, Ron... "out robber" doesn't sound right to me...
[11:36] {RonS} hehe...maybe gay robber...
[11:36] {Threei}  there... see what I mean
[11:37] {Threei}  WPI...
[11:37] {Threei}  maybe .50 break
[11:37] {Threei}  smaller shares, if holding under .60
[11:39] {dino} psmt to .49 expect slip
[11:41] {dino} to .74
[11:41] {dino} ou 58.97, +1.47
[11:42] {Threei}  beautiful
[11:42] {JK13} gj
[11:42] {dino} thx
[11:47] {Threei} Short Setup: WPI  .50 break half lot
[11:49] {rambler} missed...
[11:49] {rambler} nope..got it now...
[11:50] {dino} you use stops to enter rambler?
[11:50] {rambler} no
[11:50] {dino} on thick ones, short stop .49
[11:50] {rambler} sounds to complicated for me...
[11:51] {rambler} I'm simple..
[11:51] {dino} well, shorting is a very complicated way to trade, lol
[11:53] {Threei}  1:1
[11:53] {Threei}  man, this is like fish in a barrell
[11:54] {Threei}  I am almsot ashamed of today's trading, like taking a candy from a baby
[11:54] {dino} .22 supp
[11:56] {Threei}  1:2
[11:57] {rambler} thks V
[11:57] {Threei}  welcome
[11:57] {dino} to .35
[11:58] {RonS} cipher, when dino say "to .35" he means his stop...took me months to figure that out
[11:59] {dino} to .26
[11:59] {dino} sina drop
[12:00] {dino} cov wpi +.24 ty vad
[12:01] {Threei}  :)
[12:03] {stewy} nice one
[12:10] {dino} sina sm l .50
[12:10] {dino} to .80
[12:11] {dino} out +.30
[12:11] {Threei}  nice
[12:11] {rambler} nice Dino...
[12:11] {dino} ty
[12:11] {rambler} one day I'll be brave like you...
[12:12] {dino} sohu drop
[12:13] {dino} careful what you wish
[12:14] {dino} gco spike
[12:14] {rambler} gotta fine on that one...
[12:14] {rambler} gottya
[12:20] {JK13} Where is your secret to identify scalp only trades from 1:3 or more trades? Based on what? Technical or feeling?
[12:20] {JK13} The question is for Vad
[12:23] {Threei}  hmmm
[12:23] {Threei}  most of all, it's a feel for the market mood
[12:24] {Threei}  shapeless market with not much determination says scalp me
[12:24] {Threei}  trends are more pronounced, you are more likely to get a stringer move
[12:24] {Threei}  in case of reversals, it's about the degree of move extension
[12:25] {Threei}  but overall, this is the least precise and least scientific side of trading
[12:25] {Threei}  mix of technical and feeling and experience,
[12:25] {Threei}  and humble realization that you will be wrong in this more han in any other aspect
[12:27] {JK13} thanks, that makes sense, a combination of a lots of ingredients
[12:27] {Beau} Vad, when you go for more, do you usually/mostly/always partial at 1:1
[12:28] {Threei}  yes
[12:28] {Threei}  almost always
[12:28] {Beau} tu
[12:29] {Threei}  rare exceptions are:
[12:29] {Threei}  1. case when the stop is ridiculously tight, so I don't really care about taking profit at ridiculously small 1;1
[12:29] {rambler} SPRD drop..
[12:30] {Threei}  2. extremely strong trend where I am very convinced in having big potential
[12:30] {Threei}  3. Pleasant situation where stock spikes past 1:1 faster than I can sell, and I have no sell order laid out in advance
[12:32] {Threei}  GOP Voters View Romney As Strongest Obama Opponent, Paul the Weakest
[12:33] {Beau} thanks Vad
[12:33] {Threei}  sure thing
[12:48] {rambler} Dino, you watching SPRD....?
[12:53] {dino} no, had a bad experience w/it
[12:54] {rambler} was holding above 16 as market dropped, then fell as market rose...
[13:07] {thomcbell} slw heavy herre bad
[13:07] {thomcbell} vad
[13:07] {Threei}  thinking .10 short?
[13:13] {thomcbell} yes
[13:13] {thomcbell} or retrace back up near 30.25
[13:18] {dino} kop l .13
[13:24] {dino} sohu l .79
[13:25] {dino} to .92
[13:25] {dino} out ave .91, +.12
[13:26] {Threei}  works fine tbell
[13:27] {Threei}  good spot
[13:31] {thomcbell} tu
[13:41] {dino} azz drop
[13:45] {dino} sm l .26
[13:51] {dino} sina sm l .47
[13:55] {dino} 07 green
[14:02] {dino} arex
[14:03] {dino} sm s .99
[14:12] {dino} cov arex .59, +.40
[14:13] {rambler} good job Dino...
[14:14] {dino} ty
[14:15] {rambler} you still in KOP...?
[14:17] {dino} y
[14:17] {dino} thing's dead
[14:17] {rambler} like watching paint dry....
[14:17] {dino} worse
[14:20] {dino} sina stop -.25
[14:21] {dino} wtf sina, takes my stop and bounces .13
[14:22] {dino} and rinsed, that makes 6 today
[14:23] {Beau} Vad, is 3 day settlement the norm?
[14:29] {stewy} .
[14:31] {Threei}  pretty much
[14:32] {stewy} Vad, do you  find pot interesting?
[14:33] {RonS} loaded question?
[14:34] {Threei}  hehe
[14:34] {stewy} :D the chart
[14:34] {Threei}  well, chart is right for this 42 break
[14:34] {Threei}  but the market is so slow
[14:35] {Threei}  chances of it working or failing are truly 50/50
[14:35] {stewy} thx
[14:35] {Threei}  beau, in what way have you run into settlement terms?
[14:36] {Threei}  this is a thing that concerns cash accounts only
[14:36] {dino} sohu l .55
[14:36] {Threei}  margin accounts are not really touched by that
[14:37] {Beau} my broker has 3 day settlement so it seems have to have 3 times trading account --100M  needs 300M to trade every day.
[14:38] {Threei}  is it cash account?
[14:38] {Beau} i'm using ira acct until comfortable
[14:38] {Threei}  with margin account you can turn it over as many times a day as you like
[14:39] {Threei}  cash yes, it has that problem, but cash wouldn't let you short
[14:39] {Beau} pulling out to cash for margin has big tax ?'s
[14:39] {Beau} right, so only able to l now during my learning
[14:40] {Beau} once know can make tons of $ and cover tax then pull into cash acct.
[14:42] {dino} sohu stop
[14:44] {cipher} what's 100M... seems like a lot of dough
[14:45] {Threei}  POT ollustrates my point
[14:46] {stewy} pot taken
[14:46] {stewy} point...
[14:46] {Threei}  well, to make a pun really really bad, you'd have tyo put it this way: PO(in)T taken
[14:47] {Threei}  that's what boredom does to otherwise normal people...
[14:49] {stewy} now that is a good pun...
[14:49] {Threei}  god no
[14:49] {Threei}  it's awful
[14:49] {stewy} another pot pun. normal } norml
[14:52] {dino} sina drop
[14:56] {Threei}  ok, this is scary
[14:56] {Threei}  according to a site named Klout
[14:56] {Threei}  I influence 180 people
[14:56] {Threei}  on facebook
[14:57] {Threei}  I need to shut up
[14:58] {dino} think they mean 180 people under the influence when looking at your posts
[14:58] {Threei}  or that
[14:58] {Threei}  even scarier
[14:58] {Threei}  one of them beats up his dog, I will feel guilty for motnhs
[14:59] {rambler} but they only started drinking after beginning to read...
[14:59] {Threei}  see? totally my fault
[14:59] {dino} right
[15:00] {rambler} KOP moving finally
[15:06] {rambler} out KOP thx Dino...
[15:06] {dino} gj
[15:11] {stewy} i'm done. have a gd wknd everyone
[15:12] {stewy} thx Vad for a profitable two days :)
[15:12] {Threei}  very welcome
[15:12] {Threei}  have a great weekend
[15:12] {rambler} cu stewy....
[15:22] {dino} out kop .31, +.18
[15:23] {rambler} you worked for that .18....gj...
[15:24] {dino} thx
[15:24] {dino} ravn spike
[15:25] {dino} amrc drop
[15:29] {dino} calling it a week, thx all
[15:30] {rambler} c u monday...thanks Dino...
[15:30] {Threei}  take care dino, have a good one
[15:30] {dino} :)
[15:42] {Threei}  market ends on quiet note
[15:43] {Threei}  ok guys, I think we went through the first week of a new year with flying colors
[15:43] {Threei}  good start
[15:43] {Threei}  let's get some well deserved rest
[15:43] {JK13} have a nice weekend
[15:44] {Threei}  have a good weekend, see you Monday
[15:44] {rambler} thanks Vad ......have a great weekend....
[15:44] {thomcbell} take care everyone
[15:44] {JK13} thx Vad

Thursday, January 5, 2012

Jan 05 2012

New saving combos: http://www.realitytrader.com/supersaver.html

Fair day: profitable but without excesses. We like excesses on profit side though, so let's see if we can make it excessive tomorrow.


Session Time: Thu Jan 05 00:00:00 2012
[09:06] {Threei}  OK... I had to make a decision, and I made it: I am going to wake up now
[09:07] {swill} wtg
[09:07] {Threei}  ty
[09:07] {Threei}  may I consider daily tasks accomplisged at this point, and go back to sleep?
[09:08] {swill} your choice
[09:09] {Threei}  you are too kind
[09:09] {swill} i know
[09:10] {swill} i'll go back to bed then
[09:10] {Threei}  don't
[09:11] {swill} lol
[09:11] {Threei}  let's make some money, then by all means :)
[09:11] {Threei}  had a great day yesterday... may try to repeat it just as well
[09:11] {swill} i'm up for it
[09:12] {Threei}  that TNA 40 cents trade was like a gift from high above... it was like a stock just waited for us to enter
[09:12] {JK13} good morning
[09:12] {Threei}  jk :)
[09:13] {Threei}  (EU) EFSF chief Regling: Very confident in euro
[09:13] {Threei}  The very fact that this confidence has to be announced tells a lot about just how much confidence there is... I mean, anyone ever thought of expressing confidence that there will be a sunrise tomorrow?
[09:15] {rambler} morning....
[09:15] {stewy} good morning Vad
[09:15] {cc_8} Good morning
[09:15] {stewy} gd morning all.
[09:18] {Threei}  rambler, cc :)
[09:19] {Threei}  stewy, welcome back!
[09:20] {stewy} thx. after months of exile, good to be here
[09:20] {Threei}  I kno what you mean... I had this out of body experience through the whole fall, and fooled whole room - everyone thought I actually was here
[09:21] {swill} were you really in bed
[09:21] {Threei}  customary back and forth with nemo helped, looked very natural
[09:22] {Threei}  I suspect I was on Krypton, swill...
[09:22] {Threei}  maybe it was Titan, not sure
[09:22] {Threei}  sirens were there
[09:23] {Threei}  Euro has its behind chewed off this morning
[09:23] {Threei}  under 1.28
[09:24] {Threei}  first time in over 2 years
[09:25] {Threei}  unusually strong ADP numbers propped SPY, but gains are almost erased by now
[09:26] {Threei}  I think let's skip first min or two
[09:26] {Threei}  there likely to be some confusion about initial direction
[09:26] {rambler} DNDN up huge this am
[09:26] {Threei}  let's sit it out
[09:26] {Threei}  DNDN had news
[09:26] {dino} gm
[09:26] {Threei}  dino :)
[09:27] {rambler} good news from the look of it..
[09:28] {Threei}  open for interpretation...
[09:28] {Threei}  mix of things
[09:28] {Threei}  and annoyingly long :)
[09:28] {Threei}  in trsditions of tweeting generation, I'd say: TLDR
[09:29] {Threei}  my first impulse is to short
[09:30] {Threei}  but let's try and find good bounce for entry
[09:30] {Threei}  watching FCX and SLW
[09:31] {Threei}  no bounce to speak of, FCX
[09:31] {Threei} Short Setup: SLW  .10 break
[09:31] {Threei}  grrr, too fast
[09:31] {Threei}  no chasing
[09:32] {Threei}  FCX, should bounce now, ideally our short entry would be above .30
[09:33] {Threei} Long Setup:  LVS  .65 break
[09:33] {Threei}  half lot
[09:33] {Threei}  if stays above .55
[09:34] {Threei}  invalidated
[09:35] {Threei} Short Setup: FCX  .10 break
[09:35] {Threei}  stop .23
[09:36] {Threei}  no go
[09:36] {dino} stopped
[09:37] {dino} ndx green
[09:38] {Threei} Long Setup:  LVS  .60 break
[09:39] {Threei}  let's recalibrate it: .55 break trigger if holding .45
[09:40] {Threei}  target 1:3
[09:40] {Threei}  invalidated
[09:42] {dino} fcx s .16
[09:43] {Threei}  LVS setup is back
[09:43] {Threei}  strangely strong, for all the market weakness
[09:45] {dino} cov fcx .04, +,12
[09:45] {Threei}  gj
[09:45] {Threei}  candidate for the most confused and senseless comment of the day:
[09:45] {Threei}  (CN) IMF comments on Asia; sees need for China to boosts increases domestic consumption; calls on Japan to trim its debt adn increase growth
[09:45] {Threei}  - Notes that Asia countries have the capacity to help in Europe crisis
[09:45] {dino} ty
[09:46] {dino} notice its never europes fault
[09:47] {Threei}  no need to say, LVS is off the table
[09:50] {dino} nflx spike
[09:52] {Threei} Long Setup:  FCX  .30 break
[09:52] {Threei}  if stays above .20
[09:53] {Threei} Long Setup:  SLW  30 break
[09:53] {Threei}  stop is exceedingly obvious
[09:53] {Threei}  target 1:2
[09:54] {Threei}  1:1, half out
[09:54] {Threei}  scalpers know what to do
[09:55] {dino} fcx stop
[09:55] {Threei}  FCX no go
[09:56] {Threei}  not getting rhytm on this one today
[09:58] {Threei} Short Setup: SHLD  30 break half lot
[09:58] {Threei}  if stays under .15
[09:59] {Threei}  ISM 52.6 v 53E
[09:59] {dino} fcx s .20
[10:01] {Threei}  FCX is yours today, I have no feel for it
[10:01] {Threei}  used to be my best friend... now it's not writing, not calling...
[10:02] {Threei}  die SHLD
[10:02] {Threei}  target 1:2
[10:02] {Threei}  DNDN halt
[10:02] {Threei}  circuit breaker
[10:05] {Threei}  1:1 SHLD
[10:05] {Threei}  half out
[10:06] {Threei}  stop to 30.01
[10:06] {thomcbell} fdx new low
[10:06] {thomcbell} ups terible today too
[10:07] {Threei}  market overall feels like teetering on a brink of collapse
[10:07] {dino} cov fcx .08 +.12
[10:07] {RonS} hgsi pop
[10:07] {swill} good rythm on shld
[10:08] {Threei}  missed dive to .72 to cover
[10:12] {dino} out hgsi +.10 ty ron
[10:12] {Threei} Long Setup:  GLD  156 break smaller shares
[10:12] {Threei}  if stays above .85
[10:14] {Threei}  (GR) Reports now that the schedule for the next troika tranche for Greece will be moved back by 3 months - fianncial press
[10:14] {Threei}  lol
[10:14] {Threei}  1:1 GLD
[10:15] {Threei}  I guess they decided that in three months Greece will finally default, so no need to spend anymore for now
[10:16] {dino} out gld +.07
[10:16] {dino} they said, bend over greece
[10:18] {dino} fcx l trig .25
[10:18] {Threei}  1:2, out
[10:19] {Threei}  out second half SHLD
[10:23] {dino} fcx l .15
[10:23] {Threei}  a bit too soon out on GLD
[10:23] {dino} gj
[10:23] {Threei}  thought it was capable of 40 cents
[10:23] {Threei}  but wanted to secure the win
[10:28] {Threei} Short Setup: LVS  .20 break
[10:28] {Threei}  if stays under .30
[10:34] {thomcbell} ups fdx new lows
[10:34] {Threei}  let's trail stop to .26
[10:34] {Threei}  1:1
[10:34] {Threei}  half out
[10:35] {Threei}  scalpers are out and happy
[10:35] {swill} yes happy. can't understand it
[10:35] {Threei}  understand LVS?
[10:36] {dino} fcx stop -.16
[10:36] {swill} myself
[10:36] {Threei}  ah OK... I though, what to understand... it's three letter symbol, no actual meaning beyond providing us with profits :)
[10:37] {Threei}  scalpers win
[10:38] {swill} i could get use to winning
[10:39] {Threei}  oh, that would be horrible...
[10:39] {Threei}  lol
[10:39] {swill} what can i say buy lol
[10:40] {RonS} plce sm s .80
[10:44] {RonS} out -.10
[10:46] {cipher} +.11 plce thx ron
[10:46] {dino} fcx l .00
[10:49] {dino} semg spike
[10:49] {dino} news?
[10:49] {cipher} wow plce too soon
[10:49] {Threei}  CNBC
[10:49] {Threei}  discusses history of takeover offers rejected by SEMG
[10:50] {dino} sm s .58
[10:51] {Threei} Long Setup:  KBR  .80 break
[10:51] {dino} cov semg .18, +.40
[10:51] {Threei}  if stays above .75
[10:51] {Threei}  wtg
[10:52] {dino} ty
[10:52] {dino} that .07 lit it up like a fire
[10:58] {Threei}  let's go already KBR
[10:58] {Threei}  looks nicely double-bottomish
[11:00] {thomcbell} lvs what a nuisance
[11:00] {thomcbell} Vad was not there with 2x4
[11:00] {Threei}  lol
[11:00] {Threei}  guess who is on TV
[11:00] {cipher} mr O?
[11:01] {RonS} mr 0...
[11:01] {Threei}  yessir
[11:01] {thomcbell} The Truman O
[11:02] {dino} buying teenage votes today
[11:03] {rambler} with your money....
[11:03] {Threei}  LVS losing support
[11:04] {Threei}  you still in tbell?
[11:04] {thomcbell} sadly - patience was not there
[11:04] {thomcbell} big level here in gap at 43
[11:10] {rambler} will SPY break 127.....?
[11:12] {RonS} honest q...why do people focus on spy when the index is the .spx?
[11:12] {rambler} that is a good question.....
[11:13] {JK13} Vad still in KBR?
[11:13] {Threei}  no, it hit over 1:1
[11:14] {dino} zumz spike
[11:14] {rambler} you lost me on KBR Vad....
[11:15] {Threei}  ?
[11:15] {Threei}  .80 trigger
[11:15] {rambler} where did it hit 1:1...
[11:15] {Threei}  .75 stop
[11:15] {beau} Vad, see KBR high was .86
[11:15] {Threei}  yes
[11:15] {Threei}  how is it not 1:1?
[11:15] {thomcbell} Boeing (BA) says 12 deliveries of combined 747/787 YTD...vs. 15-20 goal - Bloomberg
[11:16] {rambler} missed the .75 stop...
[11:16] {Threei}  10:51] {Threei} if stays above .75
[11:16] {beau} missed the .75 stop.  went to .70
[11:16] {Threei}  no harm done
[11:16] {Threei}  it's still close to the b/e
[11:17] {beau} I'll learn!
[11:17] {thomcbell} vad - slw has gotten wicked recently
[11:18] {Threei}  in what way?
[11:18] {thomcbell} that pop this am from under 30 - vicious
[11:18] {Threei}  it often does it on first minutes
[11:19] {Threei}  spread can be quite jumpy too
[11:19] {Threei}  usually takes couple min for this one to stabilize
[11:20] {dino} zumz s .66
[11:21] {Threei}  GM to call back 8,000 electric Chevy Volts
[11:21] {Threei}  oh boy
[11:21] {Threei}  just how annoying these experiments with public money are
[11:21] {cipher} ibm l.38
[11:22] {Threei}  no news for this market spike
[11:23] {dino} zumz stop
[11:23] {cipher} out ibm +.07 not working
[11:25] {dino} 07 green
[11:25] {rambler} there goes KBR..
[11:27] {dino} ;)
[11:31] {cipher} ibm delayed reaction :-(
[11:32] {dino} out kbr .92, +.12
[11:33] {rambler} scalper....
[11:33] {Threei}  you do remember GM denying there was anything wrong with battery, right?
[11:33] {Threei}  followed by promise of a fix
[11:34] {Threei}  now it's:
[11:34] {Threei}  Update: GM announces enhancements to Chevrolet Volt following investigation into post-severe crash battery performance
[11:34] {Threei}  so, the chain is: there is nothing wrong with it - but we will fix it easily - and now we will "enhance" it
[11:35] {Threei}  what are the chances of me buying any GM vehicle, ever...
[11:35] {rambler} slim to none for me.....
[11:35] {Threei}  even crash dummies should stay away from it
[11:41] {dino} out fcx .12, +.12
[11:48] {Threei} Long Setup:  WFC  .80 break
[11:48] {Threei}  if stays above .75
[11:49] {Threei}  try to grab last shares at .80
[11:49] {dino} csh sm l .56
[11:49] {Threei}  rather than taking .81
[11:49] {Threei}  and pay attention, stop is .75!
[11:49] {Threei}  not .70
[11:50] {Threei}  well, .74 to be pedantic
[11:50] {beau} yes sir.  put glasses on. much better
[11:51] {Threei}  hehe
[11:52] {dino} zumz sm s .10 break
[12:00] {Threei}  ok... it's time for things to resolve
06[12:00] * Threei kicks WFC in the rear
06[12:02] * Threei kicks WFC in the rear with heavy duty steel toe army boots
06[12:02] * Threei kicks WFC in the rear with heavy duty steel toe army boots and pokes it in the ribs with electorcharged stick
[12:03] {cc_8} more
[12:03] {Threei}  need to recharge the stick
[12:04] {cc_8} LOL
[12:05] {Threei}  see... violence works
[12:09] {Threei}  stop should be at .77 at this point
[12:10] {Threei}  practicing patience during chinese water torture trade
[12:10] {Threei}  ever tried to chew your way through the brick wall?
[12:13] {dino} csh to .72
[12:14] {Threei}  OK, out first half
[12:14] {Threei}  scalpers be happy
[12:15] {Threei}  big shares trade
[12:15] {dino} die zumz dddddiiiiieeeeee
[12:15] {Threei}  ese style
[12:15] {Threei}  scalp type #1
[12:15] {Threei}  need help dino?
06[12:15] * Threei hits ZUMZ over the head with 2x4
06[12:16] * Threei hits ZUMZ over the head with 2x4 endowed with rusty nails
[12:16] {dino} csh to .83
[12:16] {Threei}  1:2 baby
[12:16] {Threei}  out WFC in full
[12:17] {Threei}  too bad ese is not here, this is a trade he would be all over
[12:17] {dino} out wfc +.08 ty vad
[12:17] {Threei}  welcome sir
[12:17] {dino} csh to .87
[12:18] {dino} out csh slippage ave .83, +.29
[12:19] {Threei}  ZUMZ, violence works
[12:20] {dino} zumz to .03
[12:20] {stewy} ty vad shook off cobwebs with that
[12:20] {stewy} wfc call
[12:20] {dino} sometimes you have to yell at them
[12:20] {Threei}  cool :)
[12:20] {Threei}  yell?
[12:20] {stewy} of course molasses type speed helps
[12:20] {Threei}  nemo would be ashamed of you
[12:21] {Threei}  hit them
[12:21] {Threei}  kick them
[12:21] {Threei}  it's good spped to get back in the saddle, stewie, I agree
[12:23] {dino} stop/cover zumz +.06
[12:28] {dino} ugh stop too tight zumz
[12:36] {Threei}  wow
[12:36] {Threei}  WFC was capable of more
[12:36] {Threei}  didn't think it would
[12:40] {rambler} ok, back in the saddle...
[12:41] {Threei}  notice, thanks to extreme violence
[12:42] {Threei}  National GOP Poll: Romney 29%, Santorum 21%, Gingrich 16%
[12:42] {Threei}  and I suppose, Generic Republican somewhere in 70 :)
[12:43] {rambler} I'm kinda pulling for Santorum myself.....
[12:44] {rambler} the underdog...
[12:45] {Threei}  "unelectable" on his forehead, I think...
[12:46] {rambler} lol
[12:46] {Threei}  his social policies are as far from mainstream as Ron Paul's foreign policy
[12:46] {rambler} mainstream is the problem.....
[12:47] {Threei}  that's why public is rooting for Generic Republican so much... each of actual candidates has a skeleton of dinosaur size in the closet
[12:48] {Threei}  ok, WFC needs to stop this, or I will get a strong case of scalper's regret
[12:49] {Threei}  and since nemo is not here and I need an outlet for frustration, can I slap cc_8?
[12:49] {rambler} need long arms...
[12:50] {Threei}  I really miss magoo... hitting him with heavy and rough-edged things was the best thing ever
[13:01] {dino} gs sm l .75
[13:03] {dino} stop is .49
[13:04] {thomcbell} http://blog.american.com/2012/01/january-surprise-is-obama-preparing-a-trillion-dollar-mass-refinancing-of-mortgages/\
[13:06] {Threei}  my bet is, not going to happen
[13:07] {dino} buying votes
[13:09] {rambler} Vad, what site do you use for news...
[13:10] {Threei}  http://goo.gl/tEDD
[13:10] {rambler} thanks
[13:11] {Threei}  sure thing
[13:13] {dino} wtw wow
[13:14] {RonS} the power of sir charles, eh?
[13:15] {rambler} what is the term for the distance between price levels on a live chart...?
[13:15] {Threei} Short Setup: GS  .50 break half lot
[13:15] {rambler} cause WTWs looks big...
[13:16] {Threei}  on level 2 you mean?
[13:16] {rambler} no, the price levels on the rt side of the chart
[13:16] {Threei}  stop above .65
[13:17] {Threei}  I donb't think there is special term for that
[13:18] {Threei}  it's a function and indicator of volatility
[13:19] {Threei}  1:1
[13:19] {cipher} plce l .35
[13:20] {swill} ty gs
[13:21] {Threei}  :)
[13:22] {rambler} what about the number up in the left corner (-0.25)
[13:23] {Threei}  it's a change from yesterday's close
[13:23] {rambler} ah
[13:23] {rambler} so
06[13:24] * Threei is checkinh his pockets in hope to find a thousand shares of WFC, accidentaly lost in the clutter
[13:25] {RonS} CBOE down
[13:29] {cipher} out plce .60 +.25
[13:29] {rambler} gj
[13:30] {dino} wtf gs
06[13:40] * Threei crawls under the office desk and throws stuff out of the file cabinets, looking for that WFC leftover... NOTHING!
[13:42] {dino} thinny, sm l osh .75
[13:47] {Threei}  dino, look dcc pls
[13:49] {RonS} got csh .56 to .86 +.30  thanks dino
[13:53] {dino} gj ron
[13:53] {dino} avav drop
[13:55] {dino} sm l .74
[13:56] {cipher} sm l .76
[13:57] {rambler} news on AVAV...?
[13:58] {Threei}  nothing fresh that I see
[13:58] {dino} idcc
[13:59] {RonS} IDCC chatter
[14:00] {RonS} from 12 min ago...RIMM reportedly agrees to license BlackBerry software to Samsung, HTC and others
[14:05] {dino} avav to .08
[14:06] {cipher} enjoying the ride :)
[14:06] {dino} out avav .08, +.34
[14:07] {rambler} Dino, when AVAV hit 29.00 on declining volume (practically 0 on that candle), what is telling you to stay in?
[14:07] {dino} my stop
[14:08] {cipher} +.29 avav thx dino!
[14:08] {dino} i will not take a sm trade w/o the idea of .30 i.e 1/1
[14:08] {dino} gj cipher
[14:08] {rambler} thanks Dino..
[14:08] {dino} so if you see sm mentioned i want .30+
[14:09] {dino} most ikely avav hits vwap at .24
[14:10] {rambler} good to know...I got .17 anyway  on small shares so thanks for that!
[14:10] {dino} np & gj
[14:10] {cipher} dino is da man
[14:11] {cipher} and vad too of course :-)
[14:11] {dino} vad yes, me no
[14:11] {dino} just trying to earn a living
[14:14] {Threei}  so am I
[14:15] {Threei} Long Setup:  TZA  .15
[14:15] {Threei}  if stasy above 25
[14:16] {dino} el dropping
[14:17] {RonS} wow...The most guns ever sold in 1 month in the US was Dec, 2011, the total was over 1.5 million
[14:17] {Threei}  target 1:2
[14:18] {RonS} guess holder is still shipping arms to the mex cartels
[14:19] {Threei}  what an incredible disgrace
[14:19] {RonS} thinking it caused the EL drop...evryone gave their honey a pistol instad of perfume...
[14:19] {dino} lol
[14:21] {cipher} funny, got my 1st gun in dec :)
[14:21] {RonS} lol
[14:21] {cipher} honey will be next :)
[14:22] {dino} lol
[14:26] {Threei}  ok, I giess it's time for another round of violence
[14:26] {Threei}  TZA looks like it could use some
[14:26] {rambler} boot in  the butt
06[14:27] * Threei kicks TZA in the rear with cement block
[14:27] {RonS} copper is getting smacked
[14:27] {Threei}  look at that
[14:27] {rambler} working...
[14:28] {RonS} crude too
[14:28] {Threei}  1:1
[14:28] {Threei}  how about that
[14:29] {dino} kbr s .99
[14:31] {rambler} s for small..?
[14:31] {dino} s=short
[14:31] {dino} sm=small=400
[14:31] {Threei}  unless you are ese
[14:32] {Threei}  in which case sm=4000
[14:32] {rambler} o.k. tks
[14:32] {dino} kbr was 1k short at .99
[14:33] {dino} stopped flat
[14:38] {Threei}  ok TZA
[14:38] {Threei}  let's do next leg
[14:45] {RonS} sad but true:  http://yfrog.com/oe4fvdmj
[14:46] {Threei}  lol
[14:47] {dino} hes l .59
[14:52] {dino} wbmd spike
[14:53] {RonS} Weather Channel, WebMD $WBMD said to be on Yahoo! $YHOO wish list of assets -Bloomberg
[14:54] {dino} ty
[15:00] {dino} fcx s .35
[15:03] {dino} stop -.06
[15:10] {dino} tsla drop
[15:11] {RonS} TSLA tax credit in doubt - this is the issue
[15:12] {RonS} lol...TSLA looking to make a $GRPN type drop
[15:12] {stewy} .
[15:12] {stewy} one ping only
[15:13] {stewy} thanks Vad for a goo frst day
[15:13] {dino} crazy ivan
[15:13] {stewy} c u 2moro
[15:13] {Threei}  take care stewy
[15:32] {dino}  out hes flat
[15:34] {Threei}  quiet eod
[15:35] {Threei}  but slide starts
[15:35] {Threei}  so TZA is still in play
[15:42] {JK13} gn everyone
[15:42] {JK13} thks Vad
[15:45] {rambler} Vad, you still in TZA..?
[15:45] {Threei}  not anymore - it just stopped secnd half on trailing stop
[15:45] {Threei}  tried to keep it for 1:2
[15:45] {Threei}  take care JK
[15:47] {dino} wpi
[15:48] {dino} sm s .46
[15:49] {swill} swill signing off
[15:49] {Threei}  OK guys
[15:49] {Threei}  no more trades
[15:49] {Threei}  thank you all
[15:49] {Threei}  have a great evening
[15:49] {Threei}  see you tomorrow for a good finish to a good week
[15:56] {dino} out osh .90, +.15



Wednesday, January 4, 2012

Jan 04 2012

Course on chart pattern recognition is available now: http://www.realitytrader.com/111trades.html  


Very strong day with a lot of winning trades and just one 10 cents stop on a half lot. 

Session Time: Wed Jan 04 00:00:00 2012
[09:08] {Threei}  MigC, look dcc please
[09:14] {RonS} gm everyone
[09:14] {Threei}  Ron :)
[09:14] {RonS} qotd?  Staffers secretly fear the revelation of Mitt's long-lost Jewish half-brother, Mort Romney
[09:15] {Beau} Good Morning Vad, you all
[09:15] {Threei}  Beau :)
[09:16] {RonS} or this one?  The trouble with Greece's tax code is the exemption for people named George, very tough to raise revenue that way.
[09:16] {Threei}  lol
[09:16] {Threei}  I guess yesterday cemented Romney as a nominee, as much as possible at this stage
[09:17] {RonS} ...another country club republican...like the bush'es...god help us...
[09:18] {rambler} morning all..
[09:18] {Threei}  rambler :)
[09:20] {RonS} unreal to me that canada is the most business friendly place amongst the G7 with that 25% corporate tax rate...
[09:21] {Threei}  well... conservative goverment did good job keeping Canada steady during all this turmoil
[09:21] {Threei}  didn't go overboard with stimulus
[09:21] {RonS} best kept secret on earth...
[09:21] {Threei}  kept it low profile, somewhat lower taxes
[09:22] {Threei}  nothing extravagant, basic boring economy
[09:23] {JK13} gm
[09:23] {Threei}  jk :)
[09:24] {sstrader} vad anything on the radar for right at the open?
[09:24] {Threei}  only usual suspects for now, then whatever scanner spits out
[09:24] {RonS} meanwhile the corporate tax receipts have increased to the highest level of % gdp...pure laffer curve...
[09:24] {sstrader} ty
[09:25] {dino} gm
[09:25] {RonS} so, did the deer get nemo, or what?
[09:25] {Threei}  dino :)
[09:26] {Threei}  I doubt it but if no peep from him for a day mopre, will ask...
[09:26] {Threei}  my bet though, he discovered some great new sort of whiskey
[09:27] {Threei}  and takes testing seriously before recommending it to us
[09:27] {Threei}  testing, tasting... whatever fits this particular case
[09:27] {Threei}  FCX, need spread to tighten
[09:31] {Threei} Short Setup: FCX  39 break half lot
[09:31] {Threei} Short Setup: SLW  .40 break
[09:31] {Threei}  really doubt you could get SLW but 1:1
[09:33] {Threei}  FCX, change to full lot if triggers
[09:33] {Threei}  should drop fast
[09:34] {Threei}  invalidated
[09:34] {Threei}  may reestablish if consolidates again under .10 for a min or two
[09:35] {Threei}  valid again
[09:36] {Threei}  chaos, no clear tgrade
[09:36] {Threei} Short Setup: LVS  .95 break
[09:37] {Threei}  if stays under .05
[09:38] {Threei}  (CN) IMF Official: Expects China 2012 GDP growth to decrease
[09:38] {Threei}  really?
[09:38] {Threei}  nostradamus...
[09:38] {Threei}  1:1
[09:39] {sstrader} stop at .96?
[09:39] {Threei}  (IA) EU governments are said to have reached a deal to put sanctions on Iran oil imports - financial press
[09:39] {Threei}  if partialing, yes
[09:41] {Threei}  watching X for pullback entry
[09:41] {Threei}  half lot
[09:41] {ese} morning
[09:42] {Threei} Long Setup:  X  .25 break
[09:42] {Threei}  ese :)
[09:42] {rambler} morning ese
[09:42] {Threei}  change to .20 break
[09:43] {Threei} Long Setup:  SLW  .60 break
[09:43] {ese} rambler
[09:44] {Threei}  1:1 SLW
[09:44] {Threei}  1:1 X
[09:46] {dino} things are back and forth
[09:46] {Threei}  as they say in Bahamas, "protect ya tings"
[09:46] {Threei}  SLW 1:2, out
[09:48] {Threei}  both FCX and SLW pullback entries right from the course pages
[09:48] {Threei}  sorry, X
[09:48] {dino} ebay l .00
[09:48] {sstrader} x was stopped after the 1:1 right?
[09:48] {Threei}  second half, yes
[09:48] {sstrader} ty
[09:49] {dino} out ebay .12,
[09:49] {dino} +.12
[09:50] {ese} big shs dino?
[09:50] {dino} 1k
[09:50] {Threei}  EBAY? internet giants are in vogue again? next thing I know we trade YHOO...
[09:50] {Threei}  and NSCP {G}
[09:51] {ese} nice
[09:51] {dino} ty
[09:51] {Threei}  actually...
[09:51] {Threei} Long Setup:  YHOO  16 break
[09:51] {dino} lol
[09:51] {Threei}  :)
[09:53] {Threei}  I think I know why swill isn't here
[09:53] {Threei}  A couple of cougar sightings have Saanich police busy Wednesday morning.
[09:53] {Threei}  change YHOO to .95 break
[09:54] {Threei}  if holding above .90
[09:54] {sstrader} stop at .90 or .85?
[09:54] {Threei}  under .90
[09:54] {Threei}  very tight
[09:55] {dino} .89
[09:55] {Threei}  taking profit at 1:1 though is only for superduperextrascalpers playing big size
[09:56] {Threei}  sane traders aim for exiting/[artialing around .05 into spike after 16 break
[09:56] {sstrader} ty
[09:58] {ese} does swill live out in your neck of the woods vad
[09:59] {Threei}  no... somewhere between us
[10:00] {Threei}  Nov Factory orders 1.8% V 2
[10:12] {Threei}  market is losing support
[10:12] {Threei}  let's scratch YHOO
[10:14] {Threei} Short Setup: RIMM  15 break
[10:14] {RonS} DMND Unconfirmed talk of early 10q filing revealing co accounted for the various payments to its growers. No need for restatement.
[10:17] {dino} sm l .60
[10:18] {Threei} Long Setup:  TZA  .90 break
[10:18] {Threei}  fast...
[10:19] {Threei}  anyone got it?
[10:19] {sstrader} not me
[10:19] {rambler} nope...
[10:19] {cipher} no
[10:19] {dino} out dmnd .05, +.45 ty ron
[10:19] {sstrader} rimm still valid?
[10:20] {Threei}  yes
[10:21] {Threei} Long Setup:  TZA  26 break
[10:25] {cipher} yhoo news?
[10:25] {dino} hired ebay guy
[10:25] {Threei}  nothing fresh
[10:26] {sstrader} rimm invalidated?
[10:26] {Threei}  good thing we scratched it
[10:26] {Threei}  yeah, forget RIMM for now
[10:29] {RonS} DMND Cuts a deal on false advertising http://stks.co/1lYx
[10:29] {ese} that was a nice setup on dmnd dino....bit of a cup ...shot up from .00  well done again buddy
[10:30] {Threei}  good by TZA
[10:30] {Threei}  1:1 fast
[10:30] {dino} ty, got lucky
[10:30] {sstrader} limit did not get filled
[10:30] {Threei}  love it when they reward you right away
[10:30] {Threei}  what price?
[10:30] {sstrader} 26.03
[10:30] {Threei}  wow, really??
[10:30] {Threei}  got .02
[10:31] {Threei}  and some at .01
[10:31] {Threei}  what do you use for broker?
[10:31] {cipher} what route sstrader?
[10:32] {sstrader} fidelity protrader
[10:32] {Threei}  ooohhhhh....
[10:32] {Threei}  that's not a day trading broker really
[10:34] {sstrader} has worked for me in the past; your picks move a little quicker than i'm accustomed to
[10:34] {RonS} ss...you can use directed trading w/ fidelity...
[10:34] {Threei}  what's that?
[10:35] {RonS} rute the order to specified exchange
[10:35] {dino} pick and choose
[10:35] {RonS} route
[10:35] {Threei}  ah... I thought they direct you what to trade :)
[10:35] {sstrader} which exchange is best?
[10:35] {dino} no you do that, lol
[10:35] {Threei}  hehe
[10:36] {RonS} dunno...3i opinion?
[10:36] {Threei}  I've no idea how fidelity routes
[10:36] {Threei}  these things are not universal across the brokers
[10:37] {RonS} most issues i would say arca...3i says he is using nasdaq
[10:37] {sstrader} ty
[10:37] {cipher} yeah arca sucks
[10:39] {RonS} fidelity routes through them all...somewhat random...they do get good fills generally
[10:39] {Threei}  Ron, it's a bit more complicated when you compare between brokers
[10:39] {RonS} ...the real problem is that the 3x's are nuts...
[10:39] {Threei}  they have different ways/technologies of connection to the exchanges
[10:39] {Threei}  with varying latency
[10:40] {Threei}  exchange itself may work similarly for different brokers, but they will connect to it differently, thus leading to varying results
[10:40] {RonS} imo fidelity is good...top tier...little evidence of latency
[10:41] {Threei}  I suspect it's only until you try Laser :)
[10:41] {dino} imo cyber ok, just short list is somewhat limited
[10:42] {dino} laser best fills and best availability
[10:42] {RonS} the most important thing to me is that during high volume periods fidelity has never melted down like tos and schwab do
[10:42] {dino} magoo would show me that, he'd always fill prior to me
[10:43] {ese} hmmmmmm
[10:44] {sstrader} vad started your 111 course last night; it's great
[10:44] {Threei}  speaking of devil... magoo says hello to everyone, looking forward to returning
[10:44] {Threei}  great to hear sstr
[10:48] {Threei}  come on TZA
[10:48] {Threei}  it's not like I amn going to live till 110
[10:48] {Threei}  I'd prefer to finish this trade today
[10:48] {sstrader} don't worry it will make it; i'm not on the train
[10:49] {Threei}  why not take it on second chance when it pulled back into trigger?
[10:49] {Threei}  conservative entry
[10:50] {sstrader} it had already hit 1:1; it's only my second day; and I have profit already from eariler picks
[10:50] {Threei}  ok
[10:50] {Threei}  juts not this time please
[10:50] {Threei}  conservative entries are good first time,
[10:50] {Threei}  almost never second
[10:51] {sstrader} ty
[10:52] {sstrader} have an appointment; i'll be back in bit
[10:54] {dino} dmnd sm l .30 gappy
[10:57] {dino} to flat
[10:57] {dino} out +.01
[11:02] {dino} damn
[11:02] {Threei}  yeah
[11:02] {dino} too tight on it
[11:04] {dino} feels like it wants to go
[11:09] {dino} ioc spikey
[11:12] {Threei} Short Setup: BDX  .55 break
[11:13] {Threei}  if stays under .65
[11:13] {ese} L MTL .11
[11:14] {Threei}  let's trail to .61
[11:14] {Threei}  1:1
[11:14] {Threei}  easy day
[11:15] {Threei}  not overly active but things work fine
[11:15] {dino} cov bdx .41, +.13 ty vad
[11:15] {Threei}  :)
[11:19] {dino} "pressure" on radio, great trading song
[11:24] {dino} apkt lod
[11:28] {dino} fcx s .50
[11:29] {Threei}  BDX was worth a second look...
[11:29] {dino} stop -.07
[11:29] {dino} yeah that was nice
[11:30] {Threei}  put a double top after climbing back over .40
[11:30] {Threei}  I wish I paid atention
[11:35] {dino} things are dead
[11:35] {Threei}  tings
[11:35] {Threei}  speaking bahamian today
[11:35] {dino} ahh
[11:37] {Threei}  sign "protect ya tings" was prominently displayed over the counter with condoms
[11:37] {dino} lol
[11:41] {dino} partial arun l .97
[11:46] {dino} stop to .03 brb
[11:51] {Threei} Long Setup:  TNA  .15 break half lot
[11:52] {Threei}  aggressive entry for .25 break, stop under 46, target .45
[11:52] {rambler} o.k. children delivered into the arms of the public edu system....
[11:52] {Threei}  poor children...
[11:52] {rambler} lets get er going...
[11:53] {rambler} agree..
[11:53] {Threei}  let the brainwashing begin
[11:53] {Threei}  "green... be green... planet is dying... your parents killed it... hug thy neighbor's tree..."
[11:54] {rambler} had them in private in lower grades...wasn't much different...
[11:55] {Threei}  invalidated but watching for different entry
[11:57] {Threei} Long Setup:  TNA  46.05 half lot
[11:57] {Threei}  if holding .95
[11:57] {Threei}  actually, with this stop, full lot
[12:06] {Threei}  1:1
[12:06] {Threei}  1:1ummm
[12:06] {Threei}  lol
[12:06] {Threei}  out
[12:06] {Threei}  .45
[12:07] {thomcbell} lovely
[12:07] {thomcbell} wtg Vad
[12:07] {Threei}  don't know what that was but I am not looking in the teeth of a horse
[12:07] {dino} gj
[12:07] {thomcbell} lvs has nothing today
[12:07] {dino} dmnd sm l .00
[12:08] {Threei}  nopw, look at the headline that crossed wire right when this spike took place
[12:08] {Threei}  (GR) Greece PM Papademos: Hopeful Troika discussions in mid January will help on plans for economy through 2015- Reiterates Govt spokesperson comments from yesterday that if Greece does not receive next tranche, Greece will default in March
[12:08] {Threei}  so, I take it:
[12:08] {Threei}  we spike now simply because it's not March yet
[12:08] {dino} yes
[12:08] {Threei}  tere... makes sense now
[12:09] {dino} remember when greece was saying it would never default
[12:09] {Threei}  yes, lol
[12:09] {Threei}  and we said: never believe anything until it's officially denied
[12:09] {dino} right
[12:10] {dino} i think they take the next money and default anyway
[12:10] {Threei}  that's the plan I am sure
[12:11] {dino} get as much as you can...
[12:11] {Threei}  Greece: too bad I am not a russian businessman... or I would disappear with all the borrowed mioney somewhere in Cyprus
[12:13] {Threei}  and surface again in Phuket after plastic surgery
[12:13] {ese} Out MTL .29 +.18.........am outta here cya tomorrow
[12:13] {dino} gj
[12:13] {Threei}  take care ese
[12:13] {ese} cya vad
[12:13] {ese} tks dino
[12:14] {dino} jazz spike
[12:16] {Threei} Long Setup:  TNA  .50 break half lot if stays above .40
[12:16] {Threei}  and I'll be relieved iof it invalidates
[12:17] {Threei}  kind of: right chart but something in me is against this trade
[12:17] {Threei}  thus half lot
[12:18] {cipher} +.17 jazz thx dino
[12:18] {dino} gj
[12:18] {Threei}  Election 2012: Obama 49%, Gingrich 39%
[12:18] {Threei}  Generic Republican, I am telling you... he is the one we need
[12:19] {thomcbell} i agree Vad -
[12:20] {dino} think they miss the point, once one is choosen then poll it, right now splitting the votes
[12:21] {Threei}  well, they are professional pollsters... do you expect them to works once every 4 years? :)
[12:21] {Threei}  they earn a living by polluting airwaves 24/7
[12:22] {Threei}  TNA, I knkew it
[12:25] {sstrader} just got back; did tna trigger and stop out?
[12:26] {Threei}  yeah, by 1 cent
[12:26] {sstrader} how has it been since the TZA trade i missed out on earlier?
[12:26] {Threei}  we had one good and one great trade
[12:27] {Threei}  BDX short and TNA long from 46.05 to .45
[12:27] {sstrader} gj
[12:28] {JK13} slw L @ 30.56
[12:29] {dino} ulta spike
[12:30] {sstrader} the tna trade from .05 to .45; was the setup simply consolidation at support?
[12:31] {Threei}  here is the thinking train at the moment:
[12:31] {Threei}  11:51] {Threei} Long Setup: TNA .15 break half lot
[12:31] {Threei}  [11:52] {Threei} aggressive entry for .25 break, stop under 46, target .45
[12:32] {Threei}  11:55] {Threei} invalidated but watching for different entry
[12:32] {Threei}  [11:57] {Threei} Long Setup: TNA 46.05 half lot
[12:32] {Threei}  [11:57] {Threei} if holding .95
[12:32] {Threei}  [11:57] {Threei} actually, with this stop, full lot
[12:32] {Threei}  original idea was a pullback entry
[12:32] {Threei}  modification was simply optimization of the entry as setup reshaped
[12:33] {sstrader} got it; since original consolidation on retracement did not trigger, waited for second level of consolidation to trigger
[12:36] {Threei}  right
[12:36] {dino} ulta dt?
[12:37] {Threei}  not really clear...
[12:38] {dino} .51 says no, break .25 yes, imo
[12:39] {dino} no mans land
[12:44] {cipher} wow jazz defies gravity
[12:45] {rambler} ulta s .29
[12:46] {dino} stop to b/e
[12:47] {thomcbell} bulls seem to have gotten the upper hand in this qcom Vad \
[12:47] {rambler} out 07....22
[12:47] {dino} gj
[12:47] {thomcbell} thing trading great today
[12:48] {rambler} thks
[12:49] {dino} to .95
[12:50] {Threei}  QCOM does look much better today than usually
[12:50] {dino} cov ulta .88, +.37
[12:51] {rambler} nice Dino...
[12:51] {dino} ty
[13:12] {dino} dmnd vwap 33.04
[13:14] {dino} nflx spike
[13:19] {dino} nflx sm s .95
[13:20] {dino} dmnd stop -.13
[13:20] {dino} cov nflx .65, +.30
[13:22] {dino} jazz continues
[13:27] {cipher} nflx nice dino
[13:28] {Threei}  guess who is on TV
[13:29] {cipher} no idea
[13:31] {dino} ty cipher
[13:33] {cipher} are you going to tell us Vad?
[13:33] {RonS} lol
[13:33] {Threei}  standing joke... every time president appears on TV
[13:33] {cipher} i feel stupid now :-)
[13:33] {Threei}  he used to do it three times a day
[13:34] {Threei}  so someone would ask "guess who is on TV", and nemo and Les would spring all kinds of attractive female names on us
[13:35] {Threei}  causing response "we wish"
[13:36] {dino} dmnd rinsed
[13:37] {RonS} lol...just came across fidelity news:  Netflix shares soar (No, this is not a typo)
[13:44] {cipher} jazz s .37
[13:52] {cipher} cov .17 +.20
[13:52] {rambler} good job cipher...
[13:53] {cipher} got disconnected while in the trade...
[13:53] {rambler} that never helps...
[13:53] {cipher} thx ramler
[13:54] {dino} cxo spike, same one from yesterday
[13:57] {dino} gj cipher
[13:58] {cipher} +.14 cxo s thx dino
[13:59] {dino} gj
[14:04] {sstrader} vad would long jazz break of .50 be a good setup?
[14:06] {Threei}  aside of risk, yes
[14:07] {sstrader} why risky; because so extended?
[14:07] {Threei}  and volatile
[14:07] {Threei}  capable of sharp jumps
[14:08] {sstrader} looked like cup with handle and JBE
[14:09] {Threei}  yes
[14:10] {Threei}  and worked as suchj
[14:10] {sstrader} is quiet jumpy though as you said
[14:14] {dino} "pulp" is the term you are looking for
[14:16] {Threei}  hehe
[14:18] {rambler} Dino, what does the term "07 all red" refer to ...?
[14:20] {Threei}  Bond... James Bond
[14:20] {RonS} lol...was gonna say that but thought it juvenile...
[14:21] {RonS} 'course never stopped me before...
[14:21] {rambler} have seen it from time to time and wondered what it was about...
[14:21] {Threei}  so did I but I wouldn't put it beyond me
[14:21] {dino} rambler, i have a scanner set that only spitsd out moves of .07 or greater
[14:22] {Threei}  now let's just wait for the grown-up to return to the room and give real explanation :)
[14:22] {Threei}  there
[14:22] {dino} if its all red falling fast, all green going up fast. gives hit on market direction
[14:22] {rambler} ok, thanks Dino
06[14:22] * Threei and Ron go back to their corner, hanging heads in shame
[14:23] {dino} most of the capits/euporic spikes i post are multiples of .07 flashing on the scanner
[14:23] {dino} they are in "pulp" mode
[14:25] {rambler} does pulp refer to price volitility...?
[14:25] {dino} yes, george costanzza term, "pulp moves baby"
[14:25] {Threei}  yeah... Seifield, Costanza: Pulp can move baby!
[14:26] {rambler} right on..thanks
[14:26] {dino} we are very scientific here
[14:26] {rambler} got a lotta background to catch up on....
[14:27] {Threei}  excpet Ron who for some reason decided to retsrain himself in giving real life explanation (see james Bond dialog above)
[14:27] {sstrader} just working on my chart evalutation here after starting the course; vad how does de look for short with a break of .35 (cup/handle)
[14:27] {RonS} naw rambler, you just shot the wad until nemo shows up
[14:28] {rambler} lol
[14:28] {Threei}  looks decent sstrader
[14:28] {Threei}  just please, capitalize the symbols, not always easy to see where the stock is named
[14:28] {Threei}  especially considering our typing
[14:28] {sstrader} sorry
[14:28] {Threei}  wouldn't put it p;ast anyone to type de instead of the :)
[14:30] {Threei}  it's easy rambler... we have very few jokes which is explained by bad memory - can't keep more than 3-4 on top, 5th one will have to replace first... so, easy to catch up
[14:30] {rambler} good to kwon...:D
[14:30] {rambler} know
[14:30] {Threei}  most of them are self-deprecating, unless nemo is here - then we switch to insulting each other
[14:56] {rambler} CXO trying again at 102.20
[15:01] {dino} you in short?
[15:01] {rambler} no
[15:01] {dino} bcr drop
[15:02] {dino} news?
[15:02] {RonS} FDA reviews safety studies $JNJ $BCR .. medical devices harm woman . asking to collect 3 years of data
[15:02] {Threei}  yes
[15:03] {dino} sm l .30
[15:03] {Threei}  what Ron said... follows reports of injuries
[15:04] {dino} out .60 bcr +.30
[15:04] {rambler} nice one....
[15:04] {dino} ty
[15:06] {RonS} qcom plunging on possible accting issues
[15:06] {Threei}  Photocrati site http://www.sevenbyfive.net/ features my profile as a photographer on Jan 25
[15:06] {Threei}  if I am not here on 26th, you know my photos sold in numbers that allowed me to retire overight
[15:08] {dino} gl
[15:08] {dino} nflx hod
[15:08] {rambler} Dino, do you only use limit orders to get your fills on these fast movers..
[15:08] {Threei}  althugh seeing that photo that commanded the highest perice in history, I really hope I am not in that standard
[15:08] {dino} yes
[15:11] {dino} rambler, do not blindly follow me, i trade differently than most
[15:11] {rambler} do you work off the level 2 screen or a seperate order entry window...?
[15:11] {rambler} no problem...just trying to piece it all together...
[15:12] {dino} separate window pops up in t/s
[15:12] {rambler} thanks...
[15:12] {dino} 8 windows open in cyber, plus separate computer for reality trader, and 3rd pc for vwap and news
[15:13] {dino} hate to admit it, but nemo's vwap site is helping me a lot
[15:13] {rambler} hey, whatever makes money...all good
[15:14] {dino} indeed, just wanted nemo to see that comment
[15:14] {Threei}  it's just that we enjoy slapping nemo with heavy objects much more than crediting him
[15:14] {rambler} who hosts vwap..?
[15:14] {dino} exactly
[15:15] {dino} freestockcharts.com
[15:15] {rambler} I will check it out...
[15:15] {Threei}  you read nemo's updates on that week by week, rambler?
[15:15] {dino} its sweet, vwap, r1,2,3, s1,2,3 etc
[15:15] {rambler} try to..
[15:15] {Threei}  there are explanations how to use it
[15:26] {dino} wow nflx
[15:38] {nemo} well?
[15:38] {Threei}  yesssss!!!!
[15:38] {RonS} deep...
06[15:38] * Threei slaps nemo around a bit with a large trout
[15:38] {nemo} frozen I might add
[15:38] {Threei}  I knew this day was not over!
[15:39] {nemo} sheesh...can't put software on the new firms computers
[15:39] {nemo} sucks
[15:39] {Threei}  meaning, you are slapless?
[15:39] {nemo} I'm home
[15:39] {nemo} left early
[15:39] {Threei}  ah...
[15:39] {nemo} They're making me trade on live simulator
[15:40] {nemo} That commute is taxing
[15:40] {Threei}  eww
[15:40] {nemo} I hate people and I see them everywhere
[15:40] {Threei}  second that
[15:40] {Threei}  the difference between people people and chocolate: I never met a chocolate I didn't like
[15:41] {nemo} that's obvious
[15:41] {dino} lol
[15:41] {Threei}  I am mr obvious, remember?
[15:45] {nemo} any of uze guyz get nflx today...WOW!!!
[15:46] {nemo} I'll take that as a "NO"
[15:47] {Threei}  Ron got it at 71.82
[15:47] {Threei}  still in
[15:47] {nemo} NICE JOB!!!!
[15:47] {RonS} hehehe
[15:47] {RonS} foolin ya
[15:48] {nemo} yeah, now that I look at it, .01 off the bottom...that would be closer to your IQ
[15:48] {nemo} sorry
[15:48] {nemo} not really
[15:48] {nemo} can't help myself
[15:48] {Threei}  don't even try
[15:48] {nemo} nice double bottom between 10 and 11
[15:48] {Threei}  that wouldn't be nemo we came to know and, errr
[15:48] {RonS} we told rambler you be putting on a show...
[15:48] {Threei}  hate?
[15:52] {Threei}  second half of the day unproductive
[15:52] {Threei}  good thing first was excellent
[15:52] {nemo} Yeah, kinda why I left early, besides being tired...haven't stared at LII in 3 months
[15:56] {JK13} gn everyone, thanks Vad
[15:56] {Threei}  thank you all
[15:56] {Threei}  have a great evening
[15:56] {Threei}  see you tomorrow
[15:57] {rambler} cya ...
[15:59] {dino} thx all for ideas, good time

Tuesday, January 3, 2012

Jan 03 2012

 Course on chart pattern recognition is available now: http://www.realitytrader.com/111trades.html  

Nice start to the year, with somewhat rocky morning and a few good wins righting the day, notably LVS short for 1:4. All in all, good day.

Session Time: Tue Jan 03 00:00:00 2012
[09:02] {Threei}  OK... let's face it - it's morning, and it's time to wake up
[09:03] {swill} well then good morning
[09:03] {Threei}  hi swill, happy New year
[09:03] {swill} same to you
[09:04] {Threei}  ty
[09:04] {Threei}  holiday of expanding waistlines is over
[09:04] {Threei}  time to estimate and repair the damage
[09:04] {swill} indeed
[09:06] {swill} i'm going to try joga
[09:06] {Threei}  I am going to try a duct tape
[09:06] {swill} lol. might work
[09:07] {Threei}  why not, it works for EU for years already {G}
[09:07] {swill} their hopless
[09:11] {rambler} goodmorning all...
[09:12] {JK13} hello everyone and happy new year
[09:12] {Threei}  good morning rambler, jk
[09:13] {Threei}  and whatever nemo says, I insist - GOOD morning
[09:21] {Beau} Good Morning
[09:21] {Threei}  beau :)
[09:21] {Threei}  so far I can't tell between:
[09:21] {Threei}  gap n' go
[09:22] {Threei}  gap n' stall
[09:22] {Threei}  gap n' trap
[09:22] {Threei}  during December we had all three with no visible order, just depending on the mood and another headline
[09:26] {ese} mornin
[09:26] {Threei}  ese :)
[09:26] {Threei}  let's skip first minutes, see what shapes up
[09:31] {Threei} Short Setup: SLW  30 break
[09:31] {Threei}  stop above 30.10
[09:33] {Threei}  doesn't look right
[09:34] {Threei}  last chance to work
[09:35] {Threei}  nope
[09:40] {Threei} Short Setup: FCX  .20 break
[09:41] {Threei}  if stays under .30
[09:43] {Threei}  no go
[09:47] {RonS} wow, chk reversal...gm btw...where the heck is nemo, dino?
[09:48] {Threei}  morning Ron
[09:48] {Threei}  still celebrating I guess
[09:48] {Threei}  or hangover
[09:49] {Threei}  SLW rinsed
[09:51] {Threei} Long Setup:  GLD  .10 break smaller shares
[09:52] {Threei}  if stays above 155 of course
[09:54] {RonS} RIMM co-founders and co-CEOs are reportedly about to relinquish control of the company's board of directors. Financial Post
[09:54] {Threei}  speaking of hangovers... swill or ese, do throw a stone in patience's window when passing by, will ya... her hangover seems to be too extended
[09:55] {Threei}  GLD target 1:2
[09:55] {Threei}  1:1, half out
[09:55] {Threei}  and takeover chatter, Ron
[09:55] {Threei}  on RIMM that is
[09:55] {Threei}  1:3
[09:56] {Threei}  out
[09:56] {Threei}  which is bs... there is so many hurdles on the path of RIMM takeover, any talk about it is beyond premature
[09:56] {ese} will do vad....will do
[09:56] {Threei}  ty, I knew I could count on you when it comnes to throwing stones in someone's windows
[09:57] {Threei}  wow GLD
[09:57] {Threei}  held more than planned, and even that was too soon
[09:58] {RonS} ism...
[09:58] {Threei} Long Setup:  X  .15 break
[09:58] {Threei}  half lot
[09:59] {Threei}  good numbers
[09:59] {Threei}  *(US) NOV CONSTRUCTION SPENDING M/M: 1.2% V 0.4%E
[10:00] {Threei}  *(US) DEC ISM MANUFACTURING: 53.9 V 53.4E; PRICES PAID: 47.5 V 48.0E
[10:00] {thomcbell} bought ups 1/2 lot
[10:00] {thomcbell} 74.14
[10:01] {Threei}  let's keep X stop under .05
[10:01] {Threei}  thought of 28 initially but there is some concern
[10:01] {Threei}  these great numbers migt be priced in by sizeable gap to some degree
[10:01] {Threei}  so, while play is valid, let's keep risk tight
[10:02] {Threei}  half out X
[10:02] {Threei}  .28
[10:02] {Threei}  stop to .14
[10:03] {Threei}  try for around .40 - .45 for second half
[10:03] {Threei}  UPS started chewing its way up
[10:03] {Threei}  here comes X
[10:03] {Threei}  feel fee to be out
[10:03] {thomcbell} fcx wow
[10:04] {Threei}  well, haven't you heard? world's problem got fixed over the New year's eve
[10:04] {sstrader} thanks vad made .12 on my first trade with you (just scalping till i get the feel of it)
[10:04] {Threei}  all of them
[10:05] {Threei}  welcome sstrader
[10:05] {Threei}  welcome to the room too
[10:05] {sstrader} thanks
[10:05] {ese} good call X chief
[10:05] {Threei}  ty
[10:05] {Threei}  gotta get back at market for that rinse
[10:06] {Threei}  UPS works for you, tbell
[10:06] {Threei}  let's see if gravity takes over at some point
[10:06] {thomcbell} rising in agony
[10:07] {Threei}  hehe
[10:07] {Threei}  FCX is a gravity candidate
[10:07] {Threei}  looking for setup
[10:07] {thomcbell} 1/2 out ups
[10:08] {Threei}  UPS moves from agony to paroxysm of happiness mixed with bout of enthusiasm
[10:08] {Threei} Short Setup: FCX  .70 break
[10:08] {Threei}  half lot
[10:08] {Threei}  if stays under .80
[10:08] {Threei}  target 1:3
[10:09] {thomcbell} stop on ups is 74.24
[10:09] {Threei}  dino would have strangled you
[10:09] {Threei}  his stop at this point would be like .35 :)
[10:09] {thomcbell} lol
[10:10] {thomcbell} stop to 74.30
[10:10] {thomcbell} ups
[10:10] {Threei}  nemo would have strangled you too, but his reasoning would be different - he just loves strangling people
[10:10] {Threei}  come on FCX, give up already
[10:10] {thomcbell} 1/4 out ups
[10:11] {thomcbell} last quarter stop to 74.39
[10:11] {Threei}  US Pentagon notes that it will continue to operate in the Persian Gulf
[10:11] {Threei}  hmmm
[10:12] {Threei}  as if anyone doubted that
[10:12] {Threei}  perfect prep for double top FCX... follow through now, will ya
[10:14] {Threei}  chart's right from the 111 Trades course
[10:14] {thomcbell} ups stop to 74.42
[10:16] {Threei}  beautiful management, tbell
[10:22] {Threei}  no go
[10:22] {Threei}  probably just a rinse but
[10:27] {Threei}  SPY seems to be ready
[10:27] {Threei} Short Setup: GLD  .40 break
[10:27] {Threei}  smaller shares
[10:27] {Threei}  this bounce will determine the stop level
[10:27] {Threei}  desirably if stays under .50
[10:30] {sstrader} stop at .51?
[10:30] {Threei}  .55
[10:30] {Threei}  this is volatile stock, have to have a little more room
[10:30] {Threei}  that's why smaller shares
[10:31] {sstrader} ty
[10:31] {thomcbell} hadnt looked at these rail names in a while
[10:31] {thomcbell} some pretty impressive chart patterns
[10:32] {thomcbell} on daily timeframe
[10:32] {Threei}  out
[10:33] {Threei}  disjointed day
[10:38] {ese} L amrn .25
[10:38] {ese} amrn
[10:39] {ese} looks like a m m but it's AMRN
[10:39] {Threei} Short Setup: BDX  .65 break
[10:40] {Threei}  if stays under .80
[10:46] {Threei}  1:1
[10:47] {Threei}  half out
[10:47] {Threei}  scalpers know what to do
[10:50] {Threei}  aiming to cover at full around .30 - .35
[10:51] {Threei}  wow
[10:51] {Threei}  what just happened to gold
[10:54] {Threei}  out BDX 1:2
[10:54] {rambler} nice one Vad...
[10:54] {swill} nice call.  i'm going driving for a while
[10:55] {Threei}  ty... doesn't make the day perfect but fixes it mostly
[11:19] {Threei} Long Setup:  MCD  .50 break half lot
[11:19] {Threei}  if stays above .40 for scalpers, .35 day traders
[11:22] {sstrader} mcd sitll valid?
[11:23] {Threei}  I think so
[11:23] {Threei}  .35 loss will invalidate it
[11:26] {Threei}  invalidated
[11:27] {Threei}  was a two-sided setup in retrospect
[11:35] {Threei}  dino overcome the hangover
[11:36] {dino} lol, no had to be sworn in
[11:36] {Threei}  hmm?
[11:36] {Threei}  what on earth did you commit to?
[11:36] {dino} township supervisor
[11:37] {Threei}  ok... could have been worse
[11:37] {dino} how goes the morning? making $?
[11:37] {Threei}  back and forth
[11:38] {Threei}  big gap up day, ya know
[11:39] {dino} yeah, figured as much
[11:39] {dino} ironic, greece threatens leaving euro, iran threatens us battleship, etc and we rock up
[11:39] {sstrader} anything on the radar vad, or are we done till after lunch?
[11:40] {Threei}  I don't have a feeling that we will have inactive aftrenoon today
[11:40] {Threei}  watching for setups
[11:40] {Threei}  look at SPY
[11:41] {Threei}  it's just a hangover dino... reality will return
[11:41] {dino} good, i an't trade big gaps up
[11:41] {Threei}  watching TZA for entry on pullback to .75
[11:42] {sstrader} so if retraces to .75, buy it long?
[11:43] {Threei}  keep it ready, I'll try to alert if/when setup forms
[11:43] {sstrader} ty
[11:43] {Threei}  it's a kind of advance warning
[11:48] {Threei}  no bounce SPY
[11:50] {Threei}  should come now
[11:50] {dino} vwap 128.12
[11:50] {Threei}  really?
[11:51] {Threei}  perfect visual point for the bounce to top
[11:51] {dino} y
[11:51] {Threei} Short Setup: SHLD  .55 break
[11:54] {rambler} Vad, what route do you normally use.....?
[11:55] {Threei}  NASDAQ, but it's not always optimal lately, there were some changes I am not fully up to date with
[11:55] {Threei}  talk to the brker for the latest info
[11:55] {Threei}  SHLD invalidated
[11:55] {Threei}  TZA comes in
[11:55] {Threei}  a tad more please
[11:55] {rambler} ty
[11:57] {Threei}  ugh... 80 recross was it
[12:00] {Threei}  grrrr
[12:04] {Threei} Short Setup: LVS  .25 break
[12:06] {Threei}  volume is back up to 3 month average
[12:06] {dino} spy sm s .90
[12:06] {Threei}  not bad for the first trading day
[12:10] {dino} tight range
[12:14] {Threei}  LVS looks to me like 1:2 at least, possibly more
[12:16] {Threei}  1:1
[12:16] {Threei}  ply by the book
[12:16] {Threei}  half out, stop to .26
[12:17] {Threei}  if scalping, stop paying any attention to me - you won't hurt my feelings, I've been married long enough to get used to that
[12:18] {rambler} got a scalp, thks V
[12:19] {Threei}  welcome sir
06[12:29] * Threei adds poison in LVS's soup
[12:34] {cc_8} wow LVS nice one
[12:34] {Threei}  just you wait...
[12:34] {Threei}  this thing has potential for much lower
[12:34] {cc_8} agree
[12:34] {cc_8} i can feel it
[12:35] {Threei}  with stop for the balance at b/e, what's our risk
[12:35] {cc_8} charts says so too, but nonetheless i can feel it
[12:38] {dino}   spy to .64
[12:39] {Threei}  1:2
[12:39] {Threei}  1/4 more out
[12:40] {Threei}  stop to .21
[12:40] {Threei}  hey, the day becomes nicely priftable
[12:40] {Threei}  started out somewhat hangoverish
[12:40] {Threei}  evened out later on, brightened now
[12:40] {dino} cov spy +.26
[12:40] {Threei}  wtg dino
[12:41] {Threei}  missed TZA entry is the only regret
[12:41] {dino} ty
[12:56] {Threei}  let's make up our mind
[12:56] {Threei}  cover at 1:3 or let it trade
[12:57] {cc_8} RIDE IT
[12:57] {Threei}  my personal decision: skipping 1:3 and trying to cover at 1:4
[12:57] {dino} spy re-load s, .49 sm
[12:57] {Threei}  .80 - .85 area
[12:57] {Threei}  call it Rage for revenge
[12:57] {dino} r3 126.82
[13:00] {dino} cov spy -.06
[13:02] {rambler} bombs away....
[13:02] {cc_8} yep
[13:08] {Threei}  me out
[13:08] {Threei}  beautiful
[13:08] {Threei}  me happy with how the day turns out
[13:08] {rambler} that was awesome Vad...
[13:08] {Threei}  thought so too
[13:08] {Threei}  nice, safe
[13:09] {Threei}  never even thought of causing us heartburn
[13:09] {JK13} gj Vad
[13:09] {Threei}  ty
[13:10] {Threei}  and while we are on it... roufght start to the day, could have discourage less competent group... in trading, no single trade or even cluster means anything, just continue trading valid setups adjusting the the market conditions and let odds do their thing
[13:10] {Threei}  they will
[13:10] {Threei}  always do
[13:13] {sstrader} vad, what is optimal number of shares to trade with your setups? (max/min?)
[13:14] {Threei}  whatever your risk tolerance and stock liquidity allow
[13:15] {Threei}  you start by determikning your position size depending on the max loss you are willing to take,
[13:15] {Threei}  this process is described in MPP in details,
[13:16] {Threei}  also in one of blog articles, in less detail but enough to do it in practice
[13:16] {Threei}  will dig it out if needed
[13:16] {sstrader} are most of your stops around .10 to .15 risk?
[13:16] {Threei}  then you evaluate stock liquidity, how many shares you can take safely without suffring too much slippage
[13:16] {Threei}  yes, most often
[13:19] {sstrader} so if willing to risk 200 then trade 2k--will most of your picks absorb that order fairly easily without much slippage?
[13:20] {Threei}  well, this is hard to say.. stocks come and go. Sure, I avoid too thin ones,
[13:21] {Threei}  when you look at the spread and sizes, you wsill mostly see thicker ones among my picks,
[13:21] {Threei}  but still, have to look at level 2
[13:21] {Threei}  and make sure there is anough liquidity to absorb your position
[13:21] {sstrader} thanks
[13:22] {Threei}  sure thing
[13:36] {dino} spy hl s .50
[13:40] {dino} stop -.10
[14:05] {dino} gdot l .55
[14:16] {rambler} gdot looking good Dino....
[14:17] {dino}  getting out
[14:18] {dino} out +.19
[14:18] {dino} arun drop
[14:31] {Threei}  LVS returned to the level of our short
[14:31] {Threei}  not sure I see a definite trade here but watching
[14:33] {rambler} enjoying 111 Trades Vad.....
[14:33] {Threei}  glad to hear!
[14:33] {thomcbell} vad - what about piercing new high and shorting back thru on lvs
[14:33] {rambler} I like the format
[14:34] {Threei}  that's what I think tbell - .40 - .45 zone, give or take
[14:34] {Beau} echo rambler, Vad
[14:34] {Threei}  but want to see setup actually forming
[14:34] {Threei}  thanks guys, much appreciated
[14:34] {JK13} fcx is making new high
[14:35] {Threei}  thought it was a very practical course and easy on eyes format
[14:35] {Threei}  I am often reproached that I make my books and courses too involved
[14:36] {JK13} there is anyway that we can save the course in our system?
[14:36] {Threei}  I even had an imbecile e-mailing me: your taoist trader is TLDR
[14:36] {Threei}  in case you are not familiar with terminology of tweeting generation, it means: too long, didn't read
[14:36] {Threei}  and I know I shouldn't call a customer an imbecile
[14:36] {rambler} his loss.....
[14:36] {Threei}  but hell
[14:36] {sstrader} set up on lvs?
[14:37] {Threei}  not clear yet...
[14:37] {Threei}  not really jk
[14:37] {dino} arun l .25
[14:37] {Threei}  we need it to bounce a little, consolidate for a few bars, then break the low of this pulback
[14:38] {sstrader} ty
[14:43] {Threei}  OK
[14:43] {Threei}  starting to shape up
[14:43] {Threei}  .35 support
[14:43] {Threei}  I'd refer .40 break entry as aggressive one
[14:43] {Threei}  if stays under .50
[14:44] {Threei}  if SPY can't break 128 asnd reverses, should work nicelyt
[14:46] {Threei}  to finish the thought... but I do realize that not everyone wants to make it life-long dedication, so there should be some shortcuts
[14:46] {dino} out arun .31, +.06
[14:47] {Threei}  thus, Trader's Routine piece (a bit too extreme case of shortcutness), 111 Trades
[14:47] {Threei}  I however try to make them easy to build on
[14:47] {Threei}  you noticed how 111 Trades branches out leading to other pieces of information
[14:47] {sstrader} is short signal lvs .40 still valid?
[14:47] {Threei}  which are readily available if you want to dig deeper
[14:47] {Threei}  yes, very much so
[14:48] {Threei}  actually becomes stronger by minute
[14:48] {JK13} It is very well done Vad
[14:48] {dino} fwiw, i think its your best work
[14:48] {Threei}  ty
[14:48] {Threei}  I still think Taoist Trader is... but that's monumental thing :)
[14:49] {dino} i prefer 111
[14:49] {Threei}  not exactly War and Peace, but as close to it as you can expect from not-Tolstoy {G}
[14:49] {dino} but thats just me, i'm a keep it simple guy
[14:49] {thomcbell} lvs lvs moment of tyruth
[14:50] {thomcbell} truth
[14:50] {dino} tbell spelling like vad, :D
[14:50] {Threei}  it's a requirement for good trading
[14:51] {cc_8} agree the level of typo's you have indicate how good of a trader you are
[14:51] {dino} cxo?
[14:52] {Threei}  no news
[14:53] {sstrader} vad is there a discount for the 111 course if you subscribe to the trading room?
[14:53] {Threei}  now, here is how you need to type that, cc_8: agie the lvel of tipo's u hve indikate how gud of a trdr u r
[14:53] {thomcbell} i like Tyruth Graifer as a name
[14:53] {Threei}  yes, 30%
[14:54] {thomcbell} lvs invalidated
[14:54] {Threei}  LVS short invalidated
[14:54] {Threei}  not sure about long side
[14:54] {Threei}  I'd stay away
[14:55] {dino} cxo sm s .85
[14:55] {sstrader} how do you get the discount?
[14:55] {thomcbell} have to bolt early - thanks Vad
[14:55] {Threei}  welcom tbell
[14:56] {Threei}  I'll give you a coupon number in a min, sstrader
[14:56] {sstrader} ty
[14:57] {Threei}  see dcc please
[14:58] {sstrader} thanks vad
[14:59] {Threei}  sure thing
[15:00] {Threei}  long side would have worked on LVS
[15:00] {Threei}  didn't feel easy about it
[15:00] {JK13} fcx and slw have been in JBE mood all day
[15:01] {JK13} I would love to short FCX but to strong
[15:01] {Threei}  these slow creep-up days are difficult
[15:02] {Threei}  big gap up and creep-up on top? be happy if we made anything at all
[15:02] {dino} cxo to .60
[15:03] {dino} to .55
[15:04] {dino} cov .52, +.33 cxo
[15:04] {JK13} true
[15:05] {rambler} gj Dino...
[15:06] {dino} ty
[15:19] {Threei} Short Setup: LVS  .50 break
[15:20] {Threei}  SPY seems to be exhausting its entusiasm
[15:21] {sstrader} stop at .61?
[15:21] {Threei}  for now, yes
[15:21] {Threei}  but if it goes to .45 on this try, will trail it to .56
[15:22] {Threei}  there
[15:22] {Threei}  trail
[15:23] {Threei}  it's about risk management more than anbything else at his point
[15:23] {Threei}  I'd rather get rinsed for a small stop than risk profit for the day
[15:24] {Threei}  kind of: glad to add to profits but only under the condition of not jeopardizing what I already have
[15:24] {Threei}  1:1
[15:26] {sstrader} stop now at .51?
[15:26] {Threei}  for the balance if partialing, yes
[15:27] {dino} gj
[15:27] {Threei}  getting the rhythm eh, sstrader
[15:27] {sstrader} scalped, but paper trading as if partialling
[15:27] {Threei}  cool approach
[15:30] {Threei}  sharing my new year postfrom fb:
[15:31] {Threei}  My New Year resolution is to make a list of all my New Year resolutions from the past years and categorize them - the left column for the un-fulfilled ones, right column for... uh, wait... I need no right column...
[15:31] {sstrader} so true
[15:31] {rambler} out...thks V...
[15:32] {Threei}  sure
[15:32] {Threei}  who would have thought this day turns out this way
[15:34] {Threei}  Election 2012: Generic Republican 47%, Obama 43%
[15:40] {sstrader} is that it for the day vad?
[15:40] {Threei}  unless something happens
[15:40] {Threei}  if we just bob around this level, I wouldn't try anything else
[15:40] {Threei}  but sharp move might present new opportunity
[15:41] {Threei}  it just has to be quick,l to squeeze into remaining time
[15:41] {sstrader} ok thanks
[15:48] {rambler} LVS one more time...?
[15:49] {Threei}  SPY feels like ending on upward thrust
[15:49] {Threei}  about to break 128
[15:49] {Threei}  if doesn't and reverses instead, maybe do this
[15:49] {Threei}  short .60 break with stop .66
[15:50] {Threei}  risk is minimal
[15:50] {rambler} all set...
[15:50] {rambler} missed...
[15:50] {Threei}  ugh
[15:51] {Threei}  .58 was obtainable
[15:51] {Threei}  but well... not much room or time for profit anyway
[15:53] {rambler} all good, thanks Vad et all...
[15:53] {rambler} cya tomorrow...
[15:54] {Threei}  thank you all
[15:54] {JK13} gn
[15:54] {Threei}  have a good evening
[15:54] {Threei}  see you tomorrow
[16:00] {dino} ty all, gn