May 24 2012

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


Solid day with nice profitable trades. No interesting charts to show though, generic stuff.



Session Time: Thu May 24 00:00:00 2012
[09:00] {nemo} feels like a rip today
[09:05] {Threei}  sigh
[09:14] {Threei}  (EU) ECB's Draghi: Market punishing the EMU for failing to find solutions; EU Govts must jointly and irreversibly define a vision
[09:15] {Threei}  lol
[09:15] {Threei}  they still don't get it
[09:15] {Threei}  there is NO vision that can get them out of this mess
[09:17] {RonS} gm
[09:18] {ese} gm
[09:18] {Threei}  ron :)
[09:18] {Threei}  ese :)
[09:18] {ese} vad
[09:19] {Threei}  put together a new image outlet guys, in thne process of uploading more images but there is something to show already: http://fineartamerica.com/profiles/vadym-graifer.html
[09:20] {Threei}  plenty of printing options, very high quality
[09:21] {Threei}  including framing, cnavas stretched on a frame, acrylic
[09:21] {Beau} good morning all
[09:21] {Threei}  beau :)
[09:23] {dptl} gm
[09:23] {Threei}  dp :)
[09:25] {dino} gm
[09:26] {Threei}  dino :)
[09:31] {Threei} Long Setup:  SLW  .95 break
[09:31] {Threei}  If holds  .85 
[09:35] {Threei}  target 1:3
[09:35] {cipher} ibm l.75
[09:38] {Threei} Long Setup:  FCX  .70 break hl
[09:40] {Threei}  If holds  .60 
[09:40] {Threei}  SLW fought like champ...
[09:40] {Threei}  FCX 1:1
[09:41] {cipher} aapl l 569.34
[09:41] {Threei}  1:2, out
[09:42] {cipher} out aapl 570.50 +1.16
[09:42] {ese} L tol .00 L dhi .15
[09:43] {Beau} great job cipher
[09:43] {dino} gj
[09:44] {nemo} look at daily on fcx, has long way to go
[09:44] {Threei}  dino, see TIF?
[09:45] {dino} on screen
[09:45] {dino} lod
[09:46] {cipher} out ibm 00 +.25
[09:46] {Threei} Long Setup:  CL  99 break hl
[09:47] {dino} we're going down
[09:47] {Threei}  If holds  .85 
[09:48] {Threei}  target .30
[09:53] {Threei} Long Setup:  FCX  .65 break
[09:53] {Threei}  hl
[09:53] {Threei}  change to .60
[09:53] {Threei}  If holds  .50 
[09:55] {Threei}  1:1
[09:56] {nemo} gdx long .61
[09:56] {nemo} out
[09:56] {nemo} dropped that hhuge bid I was out
[09:57] {Threei}  CL stop to .89
[09:59] {Threei}  1:1
[09:59] {dino} qcom sm l .70
[09:59] {dino} gj cl
[10:00] {nemo} rinse gdx
[10:00] {Threei}  well desrved too
[10:00] {Threei}  I mean what business do you have trading off those bids...
[10:00] {Threei}  come on
[10:00] {Beau} +30 CL  thanks vad
[10:00] {Threei}  welcome sir
[10:01] {dino} cree sm l .00
[10:03] {Threei}  watch Ireland falling off its chair upon reading this:
[10:03] {Threei}  (EU) EFSF's Frankel: The convergence of bond spreads that took place after the EMU did not reflect economic reality- Ireland has been a success.
[10:04] {dino} whippy
[10:06] {Threei}  two days ago:
[10:06] {Threei}  (IE) Ireland banking sector might require between �2-4B in a second bailout package in coming years - German press
[10:07] {Threei}  that' their measure of sucess I guess - we are not talking about needing a bailout nearest weeks
[10:10] {dino} qcom to .80 don' like mkt drop
[10:11] {Threei}  CL target hit, out
[10:12] {dino} out qcom +.10
[10:15] {dino} 07 red
[10:15] {dino} cree stop -.28
[10:18] {ese} L tol again avg .04
[10:19] {Threei}  wow... 1;3 CL
[10:24] {Threei}  market feels like having no idea what to do
[10:26] {dino} dhi l .91
[10:27] {dino} qcom sm l .73
[10:34] {Threei}  (IT) Italy PM Monti: Eurobonds will become a reality very soon
[10:34] {dino} s/p hod
[10:36] {RonS} Monti continues...I hope...
[10:37] {Threei}  they might just go ahead and do it
[10:37] {Threei}  and the depth of the hole increases infinitely
[10:38] {dino} out dhi .03, +.12
[10:42] {RonS} sad day for the world...
[10:42] {RonS} the guy who invented the TV remote control died yesterday
[10:43] {dino} clf sm l .99
[10:44] {Threei}  after beer inventor, this is second toughest loss
[10:45] {nemo} the egyptians?
[10:45] {RonS} hilarious...rotflol
[10:45] {Threei}  I want to believe it was a single person
[10:46] {dino} clf stop -.28
[10:49] {ese} cya tomorrow... L dhi tol but maybe not for long......error in judgement had a couple of profits but didn't take em.......ces't la vie...catch ya
[10:50] {Threei}  take care ese
[10:51] {dino} ffiv
[10:52] {dino} rosg?
[10:54] {Threei}  no news
[10:59] {dino} mktx drop, sm l .50
[10:59] {dino} ffiv gap below 108.61 fwiw
[11:00] {nemo} 108.70 is 200sma
[11:00] {dino} ty
[11:01] {dino} rosg crazy, can't borrow
[11:02] {nemo} I can
[11:02] {nemo} expensive though
[11:02] {dino} qcom stop -.23
[11:07] {RonS} sheesh rosg
[11:07] {dino} geva drop, thin wide
[11:08] {Threei}  (DE) Germany CDU (part of coalition Govt) member reiterates Eurobonds are not up for discussion
[11:08] {Threei}  attaboy(s)
[11:09] {cipher} +.43 rosg thx for the heads up
[11:09] {dino} gj
[11:09] {Threei}  wtg
[11:09] {cipher} took about 10 secs
[11:09] {Threei}  lol, I found ROSG news
[11:09] {cipher} diaper trade
[11:10] {Threei}  in fact, it says that ROSG trades higher on no news:
[11:10] {Threei}  Telik Inc Strength attributed to chatter Telik will present positive data on one of its cancer drugs- NOTE: ROSG, another small cancer drug developer is also trading sharply higher today
[11:10] {Threei}  lol
[11:13] {cipher} anyone here s using the new Laser version?
[11:13] {Threei}  @Kurt_Vonnegut
[11:13] {Threei}  I still believe that peace and plenty and happiness can be worked out some way. I am a fool.
[11:13] {Threei}  I am still with ancient one cipher
[11:13] {nemo} douche bag
[11:14] {cipher} I wish I did too
[11:14] {Threei}  I don't upgrade things until they stop working
[11:14] {dptl} i try and did't like it
[11:14] {cipher} getting really crappy fills since the upgrade
[11:14] {Threei}  switch back
[11:14] {cipher} noticable difference
[11:14] {cipher} esp nasdaq
[11:14] {Threei}  just install previous version
[11:14] {cipher} I will
[11:14] {Threei}  nemo... Kurt?
[11:14] {nemo} yeah
[11:15] {Threei}  too left-leaning of course... but I can forgive a lot for such gem as Sirens of Titan
[11:16] {nemo} Billy Clinton hangking out with porn stars
[11:17] {Beau} is that Laser 5 rather than 6?
[11:17] {dptl} yep
[11:17] {nemo} Vad's on 1.0
[11:18] {Beau} with hand crank machine?
[11:18] {dino} still using his 286
[11:18] {Beau} lol
[11:21] {Threei}  5.1.2.287 here
[11:22] {Threei}  and no, I am on Commodore 64
[11:35] {dptl} got to go..see ya tomorrow
[11:36] {dino} cya
[11:37] {Threei}  take care dp
[12:02] {Threei}  don't see news
[12:02] {Threei}  but want to start shorting into bounces
[12:03] {dino} lod
[12:08] {RonS} dino, look whr
[12:08] {RonS} 2 way
[12:11] {Threei}  TZA
[12:11] {Threei}  want it under 22 for entry
[12:15] {dino} see kit, gap around 54.50
[12:18] {Threei}  did I have to be cute to the cent?
[12:18] {Threei}  22 was the low
[12:20] {dino} dks sm l .05
[12:55] {Threei} Long Setup:  TZA  .05 break
[12:55] {Threei}  If holds  .95 
[12:55] {Threei}  target 1:2
[12:57] {dino} gco sm l .26 gappy
[13:03] {dino} zzzzzzzzzzzzzzzzzzzzzzzzzz
[13:04] {Threei}  nope
[13:14] {dino} dks to .35
[13:15] {dino} out +.30
[13:16] {Threei}  wtg
[13:16] {dino} ty
[13:28] {dino} smr l ffiv .40
[13:29] {dino} too soon stop
[13:30] {Threei}  what the deuce
[13:34] {Threei} Long Setup:  FAZ  .15 break
[13:34] {Threei} Long Setup:  SPXU  .20 break
[13:35] {Threei}  FAZ stop under .10
[13:35] {Threei}  SPXU got away
[13:35] {Threei}  if caught it, stop under .15
[13:35] {Beau} faz too
[13:36] {Threei}  really? stayed at .16 for a while
[13:36] {Threei}  here it is again
[13:36] {Threei}  same setup
[13:37] {Beau} guess got distracted.  
[13:40] {dino} fosl sm l .60
[13:48] {dino} stop fosl
[13:50] {Threei} Short Setup: FCX  .15 break
[13:50] {Threei}  If holds  .25 
[13:54] {Threei}  1:1
[13:55] {dino} esl spike
[14:02] {Threei}  (GR) Recent poll indicates that 85% of respondents say that Greece should remain in the euro zone - financial press
[14:03] {Threei}  yes but they are not willing to pay for it with austerity
[14:03] {Threei}  so, their position is: we stay, we don't pay debt down, you continue paying us
[14:04] {Threei}  cool
[14:17] {Threei} Short Setup: FCX  32 break
[14:18] {Threei}  If holds  .10 
[14:19] {Threei}  two sided
[14:28] {Threei}  (GR) Most recent poll in Greece sees anti-bailout Syriza party in the lead at 30% (polling record high) vs 26% for New Democracy and 15% for PASOK ahead of June elections - financial press
[14:32] {Threei}  1:1
[14:33] {dino} gj
[14:33] {Threei}  ty
[14:49] {Threei}  wow
[14:49] {Threei}  RIMM
[14:49] {Threei}  just noticed... new 52 week lows
[14:49] {Threei}  train wreck in slo mo
[14:49] {nemo} yep...support at 0
[14:56] {dino} is that s1? :D
[14:59] {Threei}  lol
[15:03] {RonS} havea good summer guys, checking out intil sometime in August
[15:03] {Threei}  what? ou'll miss all fun with Greece exit
[15:03] {dino} take care ron, gl
[15:03] {nemo} cya
[15:03] {RonS} wife going through a seies of surgeries and daughter coming for month w/ 1 yr old grandaughter
[15:04] {dino} i'm going to miss your picks buddy
[15:04] {RonS} series
[15:04] {Threei}  best to yours Ron
[15:04] {nemo} oy, best of luck
[15:04] {Threei}  hope everything goes smoothly
[15:04] {dino} best wishes
[15:04] {RonS} ty all, everyone take care
[15:05] {Beau} the best ron
[15:24] {Threei}  can't get a feel for the final direction
[15:27] {nemo} shorts getting out friday for alot of people
[15:28] {Threei}  ?
[15:28] {nemo} time of day, and it's a long weekend
[15:33] {Threei}  (EU) Italy PM Monti: Hopeful Italy can move Germany to accept actions for the greater good of the EU - TV interview- Reiterates that a majority of members states expressed support for euro bonds at the EU summit yesterday. - Reiterates Greece is likely not to leave the Euro Zone.
[15:34] {dino} clsing strong again, odd
[15:37] {dino} gotta hop early. gn all
[15:43] {Threei}  ok guys, I am pretty sure I don't want any more tradfes today
[15:43] {Threei}  decent day
[15:43] {Threei}  have a good evening, see you tomnorrow

May 23 2012

Some plays worked very well, some got stopped... just above the waterline overall, with second half of the day nearly useless as often happens when market creeps up. Catch of the Day repeats yesterday's theme, with exact call on the 1:4 target:

Session Time: Wed May 23 00:00:00 2012

[09:11] {ese} morning

[09:11] {Threei}  do I really see green on FB?

[09:11] {Threei}  morning ese

[09:11] {thomcbell} and up from near $30 this am

[09:11] {Threei}  yeah

[09:11] {Threei}  ese, too bad you had to leave early yesterday... great trading day

[09:15] {ese} I left with almost $300 cool clear clean crisp canadian beauties.....will take it

[09:16] {Threei}  hard to argue with that

[09:16] {ese} would like to stay longer but my schedule this has made that tough.....will be different next year

[09:20] {Threei}  so, this weekend they are having informal summit, and they say everything will be decided (or not) there

[09:21] {ese} as oppose to the "formal" summit where they will actually make a decision

[09:22] {Threei}  yeah

[09:22] {ese} I like the daily on USHS....this should be good for a bean or two

[09:22] {Threei}  their options are narrowed down to one question actually: will they be able to press frau Merkel into Eurobonds or not

[09:22] {Beau} good morning all

[09:22] {Threei}  Beau :)

[09:22] {ese} B

[09:22] {RonS} heard merkel is not attending

[09:22] {Threei}  wow, really?

[09:23] {dino} gm

[09:23] {RonS} going to the real summit in june

[09:23] {Threei}  doesn't want to face this united pressure

[09:23] {Threei}  dino :)

[09:23] {Threei}  can't blame her

[09:24] {RonS} hearing german tourism to greece is down 30%...people afraid of getting lynched

[09:27] {RonS} dino, dmnd got $255 mil (think) financning fro Oaktree...56% float short...over 10 mil shares

[09:27] {nemo} btw, I highly recommend Jack Daniel's Tennessee Honey

[09:29] {Threei} Short Setup: FCX  .50 break hl

[09:29] {Threei}  If holds  .60 

[09:31] {Threei}  no... too volatile yet

[09:35] {Threei} Long Setup:  SLW  .10 break

[09:35] {Threei}  If holds  25 

[09:37] {ese} L low .54

[09:38] {Threei}  1:1

[09:38] {ese} daaaaa crappy fill ..absolute high of 9:37 bar

[09:38] {Threei}  dino'skicking his keyboard again?

[09:39] {Threei}  1:2

[09:39] {Threei}  out un full .35

[09:40] {dino} my computer is dieing a slow death

[09:40] {Threei}  looks like... time for a change

[09:40] {nemo} how old?

[09:40] {dino} 5 years

[09:40] {nemo} done

[09:40] {dino} yeah

[09:41] {nemo} you ever clean the fan and reseat the heatsink?

[09:41] {nemo} is it XP?

[09:42] {dino} yes

[09:42] {Threei} Long Setup:  GLD  .50 break hl

[09:42] {Threei}  If holds  .40 

[09:42] {nemo} you ever do a clean reinstall of XP?

[09:43] {dino} never

[09:43] {Threei}  Invalidated  

[09:43] {nemo} o.k.  do that, or get a registry cleaner

[09:43] {dino} i just use this computer for vads room. will go to netbook once this fails

[09:43] {nemo} XP is notorious for registry growth, it will kill performance

[09:43] {dino} thx

[09:44] {Threei}  change to .40 break if holding .30

[09:44] {dino} gaps below 11766, 2393, 1289

[09:44] {Threei}  too fast?

[09:44] {Threei}  1:1

[09:47] {Threei}  valid again

[09:47] {Threei}  not anymore

[09:48] {Threei}  rather switching to TZA long on pullback

[09:48] {ese} out Low .43 -.11 not waitin for it o hit stop loss....looks weak to me

[09:49] {RonS} eur dive

[09:49] {RonS} hg too...copper

[09:49] {dino} retail and builders holding well

[09:50] {Threei}  (EU) EU's Juncker: Today's informal EU summit will be 'undramatic'- Eurobonds to be discussed but do not expect any decision or movement on the issue

[09:50] {Threei}  heh

[09:50] {dino} fosl, dks, tol, dhi

[09:51] {Threei}  (EU) France Presidential Advisor Aghion: Southern European euro zone states will need a debt haircut - German press interview- Banks from these countries will need additional help to survive - Not able to see how see how Greece, Spain and Portugal can ever really grow again without a haircut

[09:51] {Threei}  haircut aka beheading

[09:51] {Threei}  we have seen this movie

[09:51] {Threei} Long Setup:  TZA  .65 break

[09:51] {Threei}  If holds  .55 

[09:52] {dino} they will issue the eurobonds, recap the banks, and print like an hp

[09:52] {Threei}  well... Germany refuses to back that up, as they are the ones who will have to play for this

[09:53] {Threei}  play = pay

[09:53] {dino} germany will come around

[09:53] {ese} like the look of dhi if it pulls back

[09:53] {Threei}  then we are to see inflation of grandiose scale

[09:55] {Threei}  what the deuce

[09:56] {ese} well LOW fooled me

[09:56] {Threei}  numbers are coming at 10

[09:57] {dino} federalism coming to europe, w/germans in charge. a wish germany always wanted (in charge of europe)

[09:57] {dino} qcom sm l .40

[09:57] {Threei} Long Setup:  TZA  .45 break

[09:57] {ese} which #'s vad?

[09:58] {RonS} new housing

[09:58] {RonS} sales, prices

[09:58] {Threei}  apr new home sales and mar housing prices

[09:58] {Threei}  If holds  .40 

[09:59] {Threei}  *(US) APR NEW HOME SALES: 343K V 335KE

[10:00] {Threei}  *(US) MAR HOUSE PRICE INDEX M/M: 1.8% V 0.3%E;

[10:01] {Beau} I hate tza

[10:02] {Threei}  it just reflects sudden jerks in SPY

[10:04] {dino} me too

[10:04] {dino} rosg?

[10:05] {ese} i tried that one the other day dino.......trades really bizzare......not to mention was hard to get out

[10:05] {cipher} aapl l 557.86

[10:05] {ese} rosg that is

[10:05] {cipher} out 1/2 559

[10:06] {cipher} out rest 558.50

[10:07] {Threei} Long Setup:  HAS  .60 break hl

[10:10] {Threei}  Invalidated  

[10:14] {Threei} Long Setup:  FAZ  .80 break

[10:16] {Threei}  If holds  .70 

[10:16] {Threei}  target 1:4

[10:16] {dino} crashed again. out qcom .70, 

[10:16] {dino} +.30

[10:16] {Threei}  nice one

[10:17] {dino} ty

[10:17] {Threei}  1:1

[10:17] {Threei}  stop to .74

[10:18] {dino} eyes on qcom, becn, dhi, fosl, rail

[10:19] {Threei}  stop to .79

[10:19] {Threei}  1:2

[10:23] {Threei}  stop to .84

[10:24] {Threei}  1:3

[10:24] {Threei}  stop to .89

[10:25] {Threei}  beau... switched from TZA to FAZ specifically for you on this one

[10:25] {Beau} bless you.   much nicer attitude

[10:25] {Threei}  1:4, out

[10:25] {Threei}  :)

[10:26] {Beau} bailed with .32.  thanks vad

[10:26] {RonS} gco big pulp dino

[10:26] {Threei}  welcome sir

[10:30] {Threei}  EUR/USD Breaks below 1.2600 for first time since summer of 2010

[10:31] {dino} gco beats and raises, hmmm

[10:31] {Threei}  read this guys:

[10:31] {Threei}  (EU) Preview: Informal EU Summit schedule for after the European market close

[10:31] {Threei}  Insight on various issues

[10:31] {Threei}  1) Increasing European Investment Bank (EIB) capital by �10B -

[10:31] {Threei}  2) Easing rules for national govt to use EU budget funds -

[10:31] {Threei}  3) Raising money for infrastructure funds (project bonds) -

[10:31] {Threei}  4) Giving Euro Zone bailout fund access to ECB credit -

[10:31] {Threei}  5) Using bailout funds to recapitalize banks directly -

[10:31] {Threei}  6) Introducing Eurobonds

[10:32] {cipher} tna l .81

[10:32] {nemo} yep

[10:34] {nemo} spy not cooperating

[10:35] {cipher} out tna -12

[10:39] {Threei}  panic

[10:40] {Threei}  but just wait to see what happens when SPY loses 130

[10:40] {dino}      gco smr l .51

[10:41] {Threei}  visual http://goo.gl/D0Q4b

[10:41] {dino} lose 130 going to gap 1289

[10:42] {dino} out tol .29, +.30

[10:43] {dino} dhi l .48

[10:44] {cipher} tza l .81

[10:45] {Threei}  very nice entry

[10:45] {Threei}  kangaroo tail

[10:46] {cipher} out 1/2 .94

[10:46] {Threei}  beautiful one cipher

[10:47] {cipher} out in full .99

[10:47] {cipher} ty

[10:47] {Threei}  let's convince Beau TZA is not a lost cause :)

[10:48] {Beau} ok, prove it :)  

[10:48] {Threei}  cipher just did :)

[10:48] {Beau} oh yea.

[10:49] {Beau} that was a nice job cipher.  it likes you better

[10:49] {cipher} am I missing something...

[10:49] {cipher} what's wrong with TZA?

[10:50] {nemo} why, what happened?

[10:50] {Beau} joke from earlier said I hate it

[10:50] {nemo} oh yeag

[10:51] {Threei}  10:01] {Beau} I hate tza

[10:51] {ese} cya tomorrow

[10:51] {Threei}  see, I don't discriminate... I am an equal opportunity hater

[10:51] {Threei}  I hate them all when they don't work

[10:52] {Beau} lol

[10:52] {cipher} ibm l.54

[10:56] {cipher} out flat

[10:56] {dino} tol sm l .01

[10:57] {cipher} ditto

[11:01] {dino} battle line

[11:03] {dino} out gco .98, +.47 ty ron

[11:03] {RonS} yw

[11:03] {Threei}  wtg

[11:04] {cipher} tna l .27

[11:04] {cipher} out 1/2 .42

[11:06] {cipher} 1/4 more .53

[11:08] {dino} gj

[11:14] {RonS} from Bloomberg:  About 18 million Facebook shares are on loan, an indication of short-sellers’ interest

[11:14] {cipher} stopped on remainder tna out tol .15 +.14 thx dino

[11:14] {Threei}  amazing

[11:15] {Threei}  I don';/t think I've ever seen this in such early days of IPO

[11:15] {dino} it was more a secondary than an ipo. greater fool

[11:15] {Threei}  true

[11:16] {Threei}  all things that could have been done wrong on this one were

[11:18] {dino} never forget who the sell side works for

[11:19] {dino} dhi to b/e

[11:20] {dino} out dhi .54, +.06

[11:23] {dino} tol to .09, don't like mkt drop

[11:26] {RonS} lol...Stephen Colbert voted one of Maxim's hottest women

[11:27] {Threei}  ummm

[11:28] {RonS} young men's mag that runs tasteful displays of hot women

[11:28] {RonS} ...so i've been told...

[11:29] {RonS} :D

[11:29] {dino} lol

[11:34] {dino} out tol .11, +.10

[11:38] {RonS} reality stranger than fiction:  see that Germany sold 2 yr bonds yesterday for .07%

[11:39] {RonS} but now that i think about it perhaps they should be charging the rest of the europeans for taking their money...

[11:48] {RonS} RAH buys a private cookie maker in deal that is immediately accretive

[11:49] {RonS} is down because the name is Petri Baking and anything in a petri dish is creepy?

[11:49] {RonS} ok, will stop since jokes are sounding Soviet-ish...

[11:50] {Threei}  lol

[12:21] {dino} things froze

[12:21] {nemo} lunch time Summer trading

[12:29] {Threei}  breakdown looks tempting but this time of the day rinses are abundant

[12:29] {RonS} pvh reports ah...gone pulp

[12:35] {dino} gco app lod

[12:38] {dino} gco blood, hate to see a miss

[12:38] {nemo} don't look

[12:43] {dino} damn it missed entry

[12:45] {RonS} lol...Someone want to define the difference between a bribe and aid? Maybe WMT should just say it "aided" Mexican officials

[12:50] {nemo} we call it bribery, most other places in the world, that's business

[12:50] {nemo} ask the mafia

[12:54] {Threei}  "libricant"

[12:54] {Threei}  i=u

[12:54] {nemo} wow

[13:00] {dino} gco smr l .67

[13:08] {dino} out gco .27, +.60

[13:11] {RonS} gj...tagged it 66.40 to 67.52

[13:11] {dino} beauty

[13:16] {RonS} sheesh look gdx

[13:16] {nemo} yeah

[13:22] {Threei}  (SE) Sweden PM Reinfeldt: Skeptical concerning Eurobonds; EMU moving in the right direction

[13:22] {Threei}  I agree

[13:22] {Threei}  right direction being the litterbox

[13:23] {dino} wow gco

[13:36] {Threei}  (PT) Portugal said to have reported a Jan-April govt, social security deficit - financial press

[13:42] {RonS} supposed to be surprising?

[13:43] {Threei}  don't know

[13:43] {dino} expected

[13:43] {Threei}  not much fron Europe can surprise me anymore

[13:44] {Threei}  let me give you a pleasant visual from my yesterday's backyard passtime... http://goo.gl/fG70i

[13:47] {RonS} ...great shot...need to send it to peta

[13:47] {Threei}  lol

[13:49] {RonS} don't know why i think this is funny but lol...New York bride who faked cancer, so donors would pay for wedding and honeymoon, sentenced to time served

[13:49] {Threei}  does she get to keep the money?

[13:53] {RonS} dunno, probably spent...

[13:57] {RonS} new lexicon: I got zucked...proof in concept:  SEC FORM 4: Zuck sells 30.2m shares of $FB common stock at $37.58

[13:59] {Threei}  lol

[14:00] {RonS} so is that $1.1 billion or 11.1?...my calculator won't go that high

[14:00] {dino} dk, but if 11b, then he just sold about 70% of his holdings

[14:00] {Threei}  whatever it is, he can aford going to movies this coming weekend

[14:01] {dino} not really confidence inspiring

[14:01] {RonS} probably Men in Black...

[14:01] {Threei}  Men in Black Hoodies

[14:01] {RonS} lol

[14:02] {Threei} Long Setup:  FAZ  .10 break

[14:02] {RonS} can tell you are no longer in soviet union...

[14:02] {Threei}  If holds  28 

[14:09] {dino} coming into contra-hour, gut feel, re-test lod

[14:09] {Threei}  grrr

[14:12] {Threei}  be back in 20

[14:16] {RonS} squeeze in mfrm...

[14:17] {dino} no news, destroyed week or so ago

[14:18] {RonS} 24% float short

[14:20] {RonS} faz rinse

[14:37] {Threei}  grr

[14:37] {Threei}  knew it was going to do that

[14:40] {RonS} aem went nuts

[14:51] {dino} z spike

[14:52] {RonS} ya the social media stocks are catching a bid after getting smashed w/ fb

[14:58] {dino} tol drop

[15:00] {Threei}  (US) Fed's Kocherlakota: Higher US treasury prices suggests investors anticipating the US Govt can fix its deficit issues

[15:00] {Threei}  idiot

[15:01] {Threei}  they simply flee Europe

[15:01] {RonS} unreal

[15:01] {Threei}  sensing that US problem is going to come down to the wire at the later time

[15:02] {Threei}  oh my god

[15:02] {Threei}  (US) Fed's Kocherlakota: Inflation shows US is closer to maximum employment than jobs data does

[15:03] {Threei}  I want what he is smoking

[15:03] {Threei}  must be fantastic stuff

[15:03] {RonS} dino, my computer was kicking into go slow mode so bought a dell i7 computer through costco last jan.  no problems since.  here is an offer for reference:   http://tinyurl.com/7xheer7 

[15:05] {Threei}  SPY topping pattern

[15:06] {Threei}  let's see if we can get FAZ under .60

[15:06] {dino} thx ron. i have 3 systems running. one for trades (2 years old), one for charts/email/news (bgt in march), and the dog i use for this chat room. i am just running this until it pukes, then will relace my trade one and use trade computer for room

[15:07] {Threei} Long Setup:  FAZ  .60 break

[15:08] {Threei}  change to .50

[15:09] {Threei}  invalidated

[15:09] {Threei}  no news yet

[15:10] {dino} bumming, i missed this whole rally

[15:15] {Threei}  weird spike for no news

[15:15] {Threei}  have to try it

[15:16] {Threei} Long Setup:  TZA  .30 break

[15:16] {Threei}  .24 stop

[15:17] {Threei}  sigh

[15:30] {Threei}  hate these relief rallies

[15:33] {Threei} Long Setup:  TZA  22 break

[15:33] {Threei}  If holds  .90 

[15:34] {Threei}  Invalidated  

[15:36] {Threei}  changing to .90 break

[15:36] {Threei}  If holds  .80 

[15:36] {Threei}  with 1:2 in mind

[15:37] {Threei}  Invalidated  

[15:41] {Threei}  ok... last chance

[15:41] {Threei}  .65 break

[15:43] {Threei}  lol

[15:44] {Threei}  still have 15 min though

[15:44] {Threei}  that was second to last chance

[15:44] {Threei}  .55 break

[15:46] {Threei}  half out .62

[15:46] {Threei}  stop to .54

[15:51] {Threei}  decent move

[15:55] {Threei}  ok guys, thank you

[15:55] {Threei}  have a good evening, see you tomorrow

May 22 2012

Very nice day with a lot of trades working so smoothly, it was almost a "fish in a barrel" day. Certainly back on a windshield side. Follow the trades for the intellectual joy of seeing patterns rule. One made Catch of the Day, classic pullback entry.

Session Time: Tue May 22 00:00:00 2012
[08:46] {nemo} http://goo.gl/b5j90
[08:54] {Threei}  weird combination of astute observations and umm, not
[08:54] {Threei}  although it's normal for this author
[09:06] {nemo} http://blog.themistrading.com/how-risky-are-stock-exchanges/
[09:06] {Threei}  I don't need to read it, I know the gist by looking at the author
[09:06] {Threei}  themis who made it his life purpose to chase HFT
[09:08] {nemo} basically hft is moving faster than the exchanges can adapt and exchanges are taking the financial hit on "errors"
[09:08] {dino} gm
[09:09] {Threei}  so maybe they need to switch roles?
[09:09] {Threei}  dino :)
[09:14] {Threei}  FB continues its downward spiral
[09:15] {Threei}  and I suspect it goes much much lower
[09:15] {Threei}  what's with SLW and GLD being in red while market's green
[09:16] {Beau} GOOD MORNING ALL
[09:16] {Threei}  beau :)
[09:16] {Threei}  and FCX slightly in red
[09:16] {Beau} sorry about caps
[09:17] {dino} $ up 3i, maybe thats it
[09:17] {Threei}  ah... haven't looked at it
[09:18] {Threei}  ty
[09:18] {ese} morning
[09:18] {Threei}  ese :)
[09:18] {Threei}  some changes happen in relations
[09:18] {Threei}  it used to be a given that if $ was up, SPY would be down
[09:19] {ese} ades
[09:19] {ese} sorry bout that...not a reccomendation....was typing that in the trade the news website
[09:22] {Threei}  lol:
[09:22] {Threei}  Politics is the art of looking for trouble, finding it everywhere, diagnosing it incorrectly and applying the wrong remedies
[09:24] {RonS} ...then saying you did the right thing and improved the situation and move on to the next, ad nauseum
[09:24] {Threei}  yup
[09:25] {Threei}  so if this is what the best of known systems, democracy, inevitably comes to... are we screwed by default?
[09:25] {ese} the two of you got me confusiated
[09:25] {RonS} ritholtz post on the fb ipo is very compelling...
[09:25] {Threei}  that's what us does ese :)
[09:26] {RonS} http://www.ritholtz.com/blog/
[09:26] {Threei}  [08:54] {Threei} weird combination of astute observations and umm, not
[09:26] {Threei}  :)
[09:27] {Threei}  while he is talking about FB and MS pre-IPO dealings, it's right on
[09:28] {RonS} ...was really talking about the exisiting secondary market pre-ipo, etc
[09:28] {Threei}  yes, I loved that part
[09:31] {Threei} Long Setup:  GDX  .75 break
[09:31] {ese} L car .64
[09:31] {Threei}  stop under .70
[09:32] {Threei}  out, not ready yet
[09:33] {ese} out car.82 +.18
[09:34] {Threei} Long Setup:  GDX  .55 break
[09:34] {nemo} wow aapl
[09:34] {Threei}  If holds  .50
[09:35] {dino} wdc
[09:36] {nemo} gdx around here I've got support around .30
[09:36] {nemo} big offer stepping down
[09:36] {dino} wdc sm l .75
[09:36] {Threei} Long Setup:  GDX  .40 break
[09:37] {Threei}  LVS on watch for bounce too
[09:37] {Threei} Long Setup:  LVS  .10 break
[09:37] {Threei}  half out GDX
[09:37] {Threei}  missed LVS
[09:38] {nemo} yeah, it was at .20 when I got it on screen
[09:38] {Threei}  GDX stop .39
[09:38] {Threei}  1/4 out .57
[09:38] {dino} wdc stop -.26
[09:39] {Threei}  LVS again
[09:39] {Threei}  same setup
[09:39] {Threei}  .10 break
[09:39] {Threei}  invalidated
[09:40] {dino} wdc rinsed and re-loaded .75
[09:40] {Threei}  too jumpy for a timely call
[09:41] {Threei}  FCX
[09:41] {Threei}  .40 break
[09:41] {Threei} Long Setup:  FCX  .40 break
[09:41] {Threei}  If holds  .30
[09:41] {Threei}  GDX stop to .44
[09:42] {dino} out wdc .05, +.30
[09:43] {Threei}  wtg
[09:43] {Threei}  no go FCX
[09:44] {thomcbell} volume in fb ridiculous
[09:44] {dino} dhi l .51
[09:45] {ese} and dn another 2 bills to boot
[09:45] {Threei}  out GDX in full
[09:46] {RonS} took gdx .42 to .68  thanks 3i
[09:46] {Threei}  :)
[09:47] {dino} cree sm l .50
[09:48] {Threei}  URBN
[09:48] {Threei}  very pulpy
[09:48] {ese} L car .77 L dhi .55
[09:50] {ese} would've liked .51 dino.....am bit late with your call
[09:50] {Threei}  a lot of numbers are coming at 10
[09:50] {ese} ces't la vie!
[09:51] {nemo} existing homes is all I have
[09:52] {dino} out cree flat
[09:52] {Threei}  EU consumer confidence
[09:52] {Threei}  all pf a sudden it mmatters for our markets
[09:52] {dino} cree sm l .35
[09:53] {Threei}  and thnere are some dramatic expectations:
[09:53] {Threei}  Consensus expectations: -20.5e v -19.9 prior
[09:53] {ese} whats the news on dhi dino
[09:54] {RonS} housing stocks just been strong ese...
[09:54] {ese} tks
[09:58] {Threei}  *(US) MAY RICHMOND FED MANUFACTURING INDEX: 4 V 11.0E
[09:59] {Threei}  yikes
[09:59] {Threei}  *(US) APR EXISTING HOME SALES: 4.62M V 4.61ME
[09:59] {Threei}  *(EU) EURO ZONE MAY ADVANCED CONSUMER CONFIDENCE: -19.3 V -20.5E
[10:00] {dino} out dhi .64, +.13
[10:00] {dino} no news ese
[10:00] {Threei} Long Setup:  GDX  43 break
[10:00] {ese} nice
[10:00] {Threei}  If holds  .90
[10:01] {Threei}  1:1
[10:04] {nemo} grind up continues
[10:05] {ese} out dhi .70 +.15
[10:06] {dino} gj
[10:06] {dino} out cree .75, +.40
[10:08] {ese} tks
[10:08] {Threei} Short Setup: LVS  .10 break
[10:09] {Threei}  If holds  UNDER  .20
[10:09] {Threei}  target 1:3
[10:09] {Threei}  1:1
[10:10] {Threei}  stop .12
[10:11] {dino} becn sm l ave .75
[10:11] {Threei} Long Setup:  FCX  .50 break
[10:12] {Threei}  If holds  .45
[10:13] {Threei}  target .75
[10:13] {Threei}  half out .62
[10:13] {Threei}  stop .48
[10:14] {dino} whr sm l .51
[10:15] {Threei}  1/4 more out .70
[10:15] {Threei}  offering last piece .78
[10:15] {Threei}  stop .55
[10:16] {Threei}  can't believe second trade today works for more than scalp, lol
[10:17] {nemo} longs should go a ways  iwm likely over  77, next target on spy above .90 level 133.40
[10:18] {Threei}  sure, that's the trend of the moment, but remember yesterday when both directions were routinely rinsed
[10:18] {Threei}  out
[10:18] {Threei}  +.26
[10:20] {nemo} iwm hit weekly r1
[10:25] {Threei}  visual: http://goo.gl/FbUkw
[10:25] {ese} out car .87 +.10
[10:26] {ese} gotta go all......am back to teaching
[10:27] {ese} cya tomorrow
[10:27] {dino} out whr .70, +.20
[10:27] {Threei}  take care ese
[10:27] {Threei} Short Setup: LVS  .40 break
[10:28] {Threei}  If holds  .50
[10:32] {Threei}  against the grain
[10:51] {dino} .
[10:52] {nemo} spy and iwm coming into trend line
[10:59] {dino} dks sm l .75
[11:05] {nemo} iwm looking long above .90 her if it holds the trend line
[11:05] {nemo} spy at trend too
[11:17] {Threei}  watching TZA for entry under .40
[11:19] {Threei} Long Setup:  TZA  .40 break
[11:20] {Threei}  If holds  .30
[11:26] {Threei}  ok... this has to be a topping pattern in SPY
[11:38] {Threei}  half out
[11:38] {Threei}  scalpers know what to do
[11:40] {nemo} iwm topped out at weekly S1 to the penny
[11:40] {nemo} but we're just coming into the major trendline for iwm and spy is a ways below
[11:44] {Threei}  1:2 baby
[11:45] {Threei}  1/4 more out
[11:47] {Threei}  stop to .49
[11:48] {nemo} spy showing signs of a long, but .70 is vwap and r1 on daily
[11:52] {nemo} gs might be worth a long here
[11:58] {Threei}  (EU) Fitch comments on EMU LTRO program; potential for third round is increasing- Fitch: The likelihood that a third longer-term refinancing operation (LTRO) will be needed by certain banks in 'peripheral' eurozone countries is increasing due to worries over eurozone sovereigns, limited deleveraging ability and flat-to-negative deposit trends among other factors - The timing of any further LTRO is uncertain, but is unlikely to be imminent without a further significant shock, such as a Greek exit from the eurozone. If a third LTRO is needed, we believe it will be provided. - We think French banks are the least likely among the biggest users of the first two LTROs to need another round of funding from the ECB. The French banks have been able to strengthen customer deposits, in part by attracting money that had been deposited in money market funds
[11:58] {Threei}  yes... first two rounds got us nowhere, let's do a third one
[11:59] {Threei}  FMCN... missed the fun
[11:59] {Threei}  dino, that was your kind of fiun
[11:59] {thomcbell} lvs looking for some kind of short entry
[12:00] {thomcbell} reverse c and h Vad?
[12:00] {thomcbell} on 1 min?
[12:00] {Threei}  not sure...
[12:02] {dino} out dks -.19
[12:03] {dino} fosl sm s .30
[12:06] {dino} cov fosl ave .00, +.30
[12:07] {dino} out becn .84, +.09
[12:09] {nemo} important fib level here iwm
[12:09] {nemo} and spy here
[12:09] {dino} you're fibbin'
[12:10] {Threei}  nailed market reversal perfectly
[12:10] {Threei}  can I just have my last 1/4 TZA back?
[12:11] {nemo} it amazes me how that iwm fib level still works after two years
[12:21] {dino} dks sm l .44 ave
[12:37] {dino} lol, put feet on desk and kicked keyboard to the floor
[12:40] {Threei}  rofl
[12:40] {Threei}  self-gremlined
[12:56] {Threei} Short Setup: GLD  .50 break hl
[12:56] {Threei}  If holds  .60
[13:02] {Threei}  (EU) EU's Oettinger: Merkel shouldnt reject idea of Eurobonds outright as their adoption is only a question of timing
[13:02] {Threei}  I must be insane...
[13:02] {Threei}  seems I am the only one who thinks this idea is insane
[13:02] {Threei}  well, aside of merkel
[13:08] {Threei}  GLD... grrr
[13:08] {Threei}  did it have to invalidate?
[13:10] {Threei}  funny how they all press Merkel into eurobonds knowing well that they may work only if Germany backstops them
[13:10] {Threei}  and she resists knowing that she would havbe to be the pne paying for them
[13:10] {Threei}  well, not she personally of course, lol
[13:23] {Threei}  what's going on with gold??
[13:30] {dino} dk
[13:30] {dino} maybe greek default = deflationary = lower gold
[13:30] {Threei}  no doubt
[13:30] {Threei}  but it's not like they default today
[13:31] {Threei} Short Setup: SLW  .60 break
[13:40] {Threei} Short Setup: GLD  153 break hl
[13:40] {Threei}  If holds  .10
[13:50] {Threei}  no need to say both are invalidated
[14:08] {dino} out dks .75, +.31
[14:27] {Threei}  ALW again
[14:27] {Threei}  SLW
[14:27] {Threei}  valud break
[14:28] {Threei}  and GLD did it again.., invaliated, then worked
[14:28] {Threei}  will adjust to this behavior tomorrow
[14:32] {Threei}  half out or scalp
[14:33] {Threei}  your desicion
[14:33] {Threei}  half for me
[14:36] {Threei}  deSiCion??
[14:36] {Threei}  sheesh
[14:46] {thomcbell} spy feeling vulnverable
[14:47] {Threei}  very much so
[14:47] {thomcbell} 132.38 break
[14:47] {Threei}  shorts are working again today
[15:03] {Threei} Long Setup:  TZA  .75 break
[15:04] {Threei}  If holds  .70
[15:09] {Threei}  half out
[15:14] {Threei}  1/4 more out
[15:14] {Threei}  fish in a barrel day
[15:15] {thomcbell} have to run guys - see u all tomorrow
[15:16] {Threei}  take care tbell
[15:16] {dino} l8r tbell
[15:18] {Threei}  out in full
[15:18] {nemo} didn't know you could short sell the 2nd day of an ipo:  http://online.wsj.com/article/BT-CO-20120522-710610.html
[15:19] {Threei}  who lended the shares is the question
[15:19] {Threei}  underwriters can't lend them for 30 days
[15:20] {Threei}  private investors and funds can but I've never heard of this happening on 2nd day
[15:20] {dino} dks sm s .70
[15:25] {dino} cov dks .55, +.15
[15:26] {nemo} boy, did the sheep get fleeced in FB
[15:26] {Threei}  and it's far from over
[15:27] {nemo} should be a run on vaseline
[15:28] {nemo} we're near support in spy and iwm and getting significant volume
[15:29] {dino} s/p open gap filled
[15:29] {dino} arba offer 45
[15:30] {nemo} what's up with that, acquisition offer
[15:30] {nemo} ?
[15:30] {RonS} sap
[15:30] {nemo} frickin' krauts
[15:31] {dino} cov dks too soon
[15:31] {nemo} wow 3.5 million shares 1 minute in spy
[15:32] {nemo} iwm pivot and wpp at 75.75
[15:32] {Threei}  (GR) Former Greece PM Papademos (PASOK): There is a real risk that Greece could exit the Euro; estimates of �500B-1.0T in costs underscore the seriousness of such an action- Sees economic impact to Greece from a Euro exit as 'catastrophic'; going back to Drachma would trigger an inflationary spiral - Notes there is not much room to renegotiate the bailout mechanisms.
[15:32] {nemo} spy bounced at 38.2 retrace of up move
[15:37] {nemo} might get bounce .65 spy
[15:46] {Threei}  satisfied with both our trading and the way market acted today
[15:53] {Threei}  Ok guys, thank you
[15:53] {Threei}  have a good evening, see you tomorrow

May 21 2012

Strange day - 7 winning trades, and yet negative ending. The thing is, ALL of them turned out to be scalps, so our attempts to partial and trail resulted in profiting on half lot only and stopping out around breakeven on the second half. Combined with a few stops, it turned enough to keep us in red. Oh well.



Session Time: Mon May 21 00:00:00 2012
[09:03] {ese} gm
[09:03] {Threei}  morning ese
[09:04] {ese} fabulous weekend except for today
[09:04] {Threei}  still fabulous
[09:05] {ese} true
[09:06] {ese} Zuckerberg is down 5 billion.........poor guy.....character slam......if you can dump on your friends will you dump on the market
[09:07] {Threei}  too bad we can't short this thing
[09:07] {ese} he cut a couple of his friends out of FB that helped him design it am I right?
[09:08] {Threei}  I never followed those twists and turns...
[09:08] {dptl} gm
[09:08] {Threei}  dp :)
[09:08] {ese} me neither........
[09:08] {ese} dp
[09:09] {Threei}  with incredible amount of shares coming out of lockup in a few months and company IPOing at quite mature stage of grows, it looks to me like great short opportunity
[09:09] {ese} theres still more shares to be released?     hmmmmmmm....think AONE here...it's around a buck now
[09:10] {Threei}  personal holding, many million shares
[09:10] {nemo} I don't understand the revenue model
[09:10] {nemo} is there one
[09:10] {Threei}  some re in lockup for 3 months, some 6, depending on conditions
[09:10] {ese} thats!!!!! a good question
[09:10] {Threei}  ads
[09:11] {nemo} yeah, and there click through rates are extremely low
[09:11] {Threei}  doesn't surprise me at all
[09:12] {ese} I don't have a facebook page.........and I don't want one
[09:12] {Threei}  in all time I use it, I clicked on one or two, and when they offered me $50 credit to test it, I saw zero effect
[09:12] {RonS} gm...zuck w/ all that dough and he marries that?  dated a SF Miss Chinatown in college...total babe and ballerina to boot...but mrs zuck...ooof
[09:12] {Threei}  ron :)
[09:12] {ese} lol
[09:12] {ese} morning ron
[09:12] {nemo} maybe she.....never mind
[09:13] {ese} rotflol
[09:13] {nemo} paying for it is always cheaper then marrying it
[09:13] {ese} hmmmmmmmmmm
[09:13] {Beau} good morning all
[09:14] {RonS} bunny has you brainwashed...
[09:14] {Threei}  beau :)
[09:14] {nemo} hardly...she's only been around for 2 years
[09:14] {RonS} lol...oh ok
[09:15] {nemo} Call no man unhappy until he is married. ~ Socrates
[09:15] {nemo} By all means marry; if you get a good wife, you'll be happy. If you get a bad one, you'll become a philosopher. - Socrates
[09:15] {nemo} Marriage is exchanging the praises of many for the criticism of one
[09:15] {Threei}  and in the end she will bring you that bowl with poison
[09:15] {nemo} And you'll want to drink it
[09:16] {nemo} I guess you can call me jaundiced
[09:16] {RonS} why is divorce so expensive?...because it's worth it...
[09:16] {Threei}  lol
[09:16] {Threei}  so, why gold and silver are down
[09:17] {Threei}  everything else is up
[09:17] {nemo} As a friend of mine said who had been through it more than once:  I should just find a woman who hates my guts every five years or so, and buy her a house
[09:17] {thomcbell} hehe'
[09:18] {Threei}  lol:
[09:18] {Threei}  What do you mean it's not worth $100 billion? It has Like buttons?"
[09:18] {ese} lol
[09:19] {Threei}  hmmm
[09:19] {Threei}  "Facebook crashes through IPO price as underwriters give up"
[09:20] {Threei}  question: who is doing all the selling?
[09:22] {Threei}  I mean, insiders can't sell yet, broad publick has no shares yet
[09:22] {Threei}  and shares are unavailable for shoert yet
[09:22] {ese} Zuckerberg....who else
[09:22] {Threei}  nope
[09:22] {Threei}  can't for the next three month
[09:22] {nemo} have options started trading yet?
[09:22] {Threei}  a bit earlier: *(US) APR CHICAGO FED NATIONAL ACTIVITY INDEX: +0.11 V -0.44 PRIOR
[09:23] {RonS} fb options...week from tomorrow i think...
[09:23] {Threei}  PIMCO's El Erian: Nothing significant was achieved by the G8 meetings; world remains in political and policy confusion
[09:23] {ese} have all the initial ipo shs hit the market yet
[09:23] {Threei}  - Sees a very bumpy road ahead for Europe.
[09:24] {Threei}  he is a diplomat
[09:24] {Threei}  I see a chasm
[09:24] {RonS} El Erian..."and oh, by the way, the sky is blue..."
[09:24] {Threei}  hehe
[09:25] {RonS} was wondering why this is moving...ETN Acquires $CBE For Huge Premium
[09:29] {RonS} lol...Is Facebook a good buy? The short answer is no. The longer answer is nooooooooo.
[09:29] {Threei}  gap up feels lukewarm to me
[09:29] {Threei}  looking for short entries but will skip first minutes
[09:30] {Threei}  gdx
[09:31] {Threei}  this one is rather long on pullback
[09:31] {Threei}  desirably .60 - .65
[09:32] {Threei}  too fast to alert
[09:32] {Threei}  bottomed at .63
[09:32] {dino} gm
[09:32] {Threei}  anyone got lucky to catch it?
[09:32] {Threei}  dino :)
[09:33] {gen} gm
[09:33] {Threei}  gen :)
[09:34] {Threei} Long Setup:  FCX  32 break hl
[09:34] {dino} fb, i know a lot of people that bought. average guys/gals. they are very disappointed and most likely selling
[09:35] {Threei}  stop .93
[09:35] {Threei}  no go
[09:36] {Threei} Long Setup:  TZA  .20 break
[09:37] {Threei}  If holds  .10
[09:38] {Threei}  not yet
[09:38] {Threei}  crap, GDX just won't stop ever sunce diving into that buy zone
[09:39] {thomcbell} FB terrible action
[09:41] {Threei} Long Setup:  GLD  .20 break hl
[09:41] {Threei}  If holds  .10  target 1:2
[09:43] {Threei}  1:1
[09:44] {Threei}  stop .18
[09:46] {Threei}  cat
[09:47] {ese} fb dn $5.13......and he's dragging the rest of the market with him
[09:47] {Threei} Short Setup: SLW  25 break
[09:48] {Threei}  If holds  .10
[09:50] {nemo} grindy day so far
[09:50] {Threei}  Invalidated
[09:51] {thomcbell} lvs on short watch here
[09:51] {dino} 07 red
[09:51] {thomcbell} im in 45.94 half lot
[09:52] {thomcbell} couldnt type setup quick enuf
[09:52] {Threei}  SLW is reestablished
[09:52] {thomcbell} using 46.10 stop
[09:54] {Threei}  cover half
[09:54] {Threei}  stop to .02
[09:55] {thomcbell} gdx pintraday pattern fairly constructive here
[09:55] {thomcbell} i guess everyone will be reminded again about gold names are stocks too
[09:55] {Threei}  scalpers win again
[09:56] {Threei}  LOL... "So other than stock price, how was your honeymoon?"
[09:57] {RonS} ha
[09:57] {Threei}  friking TZA
[09:58] {Threei} Long Setup:  FAZ  .40 break
[09:59] {Threei}  If holds  .30
[10:00] {Threei}  target 1:3
[10:00] {dino} becn sm l .01
[10:00] {thomcbell} flat lvs -
[10:02] {dino} hlf spikey
[10:03] {dino} sm l .25
[10:04] {Threei}  what the deuce
[10:04] {dino} out hlf .55, +.30
[10:05] {Threei}  HLF Receives Approval for Additional Direct-Selling Licenses in China
[10:05] {Threei}  US Supreme court orders review of internet based business methods
[10:05] {Threei}  huh?
[10:09] {Threei}  spactic action
[10:09] {nemo} spy is long here
[10:09] {dino} dhi l .77
[10:12] {dino} out dhi .89, +.12
[10:13] {RonS} gj
[10:14] {Threei} Long Setup:  GLD  .70 break hl
[10:14] {Threei}  If holds  .60
[10:15] {dino} ty
[10:15] {Threei}  target 1:2
[10:18] {Threei}  half out
[10:18] {Threei}  stop to .69
[10:20] {dino} out becn .36, +.35
[10:20] {Threei}  out
[10:20] {Threei}  third win for scalpers
[10:23] {dino} gotta hop, back in hour
[10:23] {Threei} Long Setup:  TZA  .80 break
[10:23] {Threei}  If holds  .70
[10:23] {Threei}  hurry up dino, if you blink FB might hit low 10s
[10:24] {Threei}  and we probably will want to scalp it there
[10:26] {Threei}  grr
[10:27] {Threei}  what's with these spikes out of nowhere
[10:28] {nemo} grind up day
[10:29] {Threei}  that would be fine... but it forms a reversal setup, then kills it by a spike
[10:29] {Threei}  look at TZA long setup
[10:29] {Threei}  it's a textbook
[10:29] {Threei}  same with FAZ earlier
[10:29] {nemo} spy just reached long term level, .09 next level
[10:35] {nemo} a short for scalp worth it here
[10:35] {nemo} spxu or tza
[10:35] {Threei}  very much so, but this is going to be 4th time it shapes up
[10:36] {Threei}  which one is a charm?
[10:36] {nemo} well, IWM at weekly pivot. .62 is WPP on spy
[10:37] {Threei} Long Setup:  SPXU  .10 break hl
[10:37] {Threei}  If holds  55  of course
[10:38] {Threei}  target 1 to frikin 3
[10:38] {Threei}  1:1
[10:39] {Threei}  stop to .05
[10:41] {Threei}  come on SPY, do the double top
[10:42] {Threei}  yeah right
[10:42] {nemo} my bet is spy goes eventual to .62 area
[10:42] {Threei}  another one for scalpers
[10:48] {Threei}  if paterns holdas, TNA should spike hard here
[10:48] {Threei}  lol... did even while I typed
[10:49] {ese} what is ZNGA?
[10:49] {RonS} on line games...farmville where people pay for animals, ect
[10:50] {RonS} etc...
[10:50] {ese} tks
[10:51] {Threei}  GDX starts lagging
[10:52] {Threei}  looking for short entry
[10:53] {RonS} http://company.zynga.com/
[10:54] {Threei}  come on GDX, bounce
[10:54] {Threei}  what kind of move is that, not giving any chance for entry
[11:03] {Threei} Short Setup: GDX  .40 break
[11:03] {Threei}  If holds  .50
[11:06] {Threei}  bug day
[11:07] {ese} bug day?
[11:07] {Threei}  some days you are windshield, some days you are a bug
[11:11] {Threei}  TZA/FAZ finally work
[11:11] {Threei}  same setups as those that didn't before
[11:23] {Threei} Long Setup:  TZA  .50 break
[11:23] {Threei}  If holds  .40
[11:24] {Threei}  change to .45 break
[11:24] {Threei}  stop .34
[11:25] {Threei}  target .80
[11:28] {Threei}  1:1
[11:28] {Threei}  don't you dare turn into scalp
[11:36] {nemo} I'm not thrilled with the levels but IWM above .50 would technically be a long here
[11:36] {nemo} stop is .34
[11:37] {Threei}  sigh
[11:37] {nemo} 1/2 out .68
[11:37] {Threei}  5th scalp
[11:38] {nemo} taking more at .79 if it gets there
[11:46] {dino} gj
[11:51] {nemo} spy or iwm break here is long
[11:55] {nemo} I'm out here, it's starting to look short again
[11:58] {Threei} Short Setup: CAT  .25 break
[11:58] {Threei}  hl
[11:58] {Threei}  If holds  .35
[12:01] {Threei}  sigh
[12:02] {nemo} sob, I should probably have stayed in
[12:03] {nemo} although .65 area IWM and .20 area spy are possible breaks
[12:08] {Threei}  NYSE volume 270M shares, about 6% below its three-month average;
[12:08] {Threei}  - NASDAQ volume 815M shares, about 11% above its three-month average;
[12:08] {Threei}  on NASDAQ it's probably FB effect
[12:08] {Threei}  so overall volume on up day is down vs selloff days
[12:11] {Threei}  (EU) German Fin Min Schaeuble: EU integration and strong Europe are in mutual interest; Reiterates France and Germany agree Greece should stay in Eurozone - joint press conf- Today's talks were good and Europe can't advance without French German unity. - Reiterates everything will be on table at May 23rd summit. - Does not question ECB's inflation stance.
[12:11] {Threei}  French Fin Min Moscovici: France and Germany have a special responsibility for EU. Need to hold to responsible budgets, but also must consider all options for boosting growth. - France is committed to cutting deficit below 3% of GDP in 2013 and reaching balanced budget in 2017. - Greece must keep its commitments, but Europe must show Greece that its ready to help boost growth. - Did discuss the idea of Eurobonds but both stuck with prior positions - Decision on who will head Eurogroup will be part of a package of personnel decisions
[12:12] {Threei}  what an incredible mess
[12:15] {nemo} LVS
[12:15] {nemo} shit, missed it
[12:21] {ese} L RVBD .40
[12:21] {nemo} wow, that was an expensive stop on TNA
[12:36] {Threei}  JPM CFTC Chief Gensler confirms investigation into the company over its trading loss (as previously reported)
[12:38] {dino}  you know $3 billion on a $200billion book, isn't that big imo
[12:38] {Threei}  their balance sheet is 1T
[12:39] {Threei}  from all information available, they lost their own money - not vlients, not taxpayers
[12:39] {dino} well, even more to my point
[12:39] {Threei}  good for them, let them lose and let them market price reflect them
[12:40] {Threei}  why congress is going to do hearing and SEC and CFTC - investogate, is beyond me
[12:40] {dino} exactly
[12:40] {Threei}  they made 11B in 2011
[12:40] {Threei}  I haven';t heard applause
[12:41] {ese} out rvbd .49 +.09
[12:41] {Threei}  just the opposite in fact - crowds we as disgusted with their pfots as they are now with loss
[12:44] {dino} out rvbd +.08, ty ese
[12:46] {Threei} Short Setup: LVS  .50 break
[12:46] {Threei}  If holds  .60
[12:49] {Beau} hearings because it is election time.  Congress protecting us common folk and by the way vote for me.
[12:50] {Threei}  yes... oh, and I fully expect hearing into FB overpriced IPO
[12:51] {Beau} yep
[12:52] {Threei}  full consumer protection mode, you know
[12:52] {Threei}  from himself too
[12:53] {Beau} i am ready for a benevolent dictatorship with nemo or me as dictator
[12:57] {Threei}  I'll handle machine gun
[12:58] {Threei}  any worthy benevolent dictatorship has to have a lot of those
[13:00] {Threei}  as you well realize, you hesitated to say scalp ot half... for understandble reasons, lol
[13:01] {Threei}  so whatever you did is good
[13:01] {nemo} hehehehe...I define benevelence as helping people's souls transition to the next incarnation...
[13:01] {Threei}  lol
[13:02] {nemo} benevolence
[13:03] {Beau} traders have souls?
[13:03] {nemo} I didn't say that
[13:04] {Threei}  before first short
[13:05] {Threei}  as soon as you shorted your fitrst stock, it's good night
[13:05] {nemo} ahhhh...Vad, what the hell are you talking about?
[13:05] {Threei}  soul?
[13:06] {nemo} btw...Jack Daniel's  Tennessee Honey, excellent stuff
[13:07] {nemo} yep...definitely after noon
[13:08] {nemo} long .46 lvs
[13:09] {nemo} stop under .35
[13:09] {Threei}  isn't it amazing - 6 winning trades, and I am negative
[13:09] {Threei}  clear mismanagement
[13:09] {nemo} must be that ex-soviet in u
[13:13] {nemo} oh well, probably a short, hit resistance at the 40 period average
[13:17] {Threei}  (US) San Francisco Fed issues research on Quantitative Easing; impacted yields more than targeted debt- QE program lowered 10 year yield by 1%
[13:17] {Threei}  well?
[13:17] {Threei}  logic says let's do QE3, right?
[13:21] {nemo} rinse
[13:25] {ese} sorry dino didn't see your thanks ........
[13:25] {Threei}  too late ese
[13:25] {Threei}  dino put you in the "never thank again" list
[13:26] {ese} lol
[13:29] {ese} L car .29
[13:33] {ese} L some more avg .30
[13:35] {ese} stop to .28
[13:37] {ese} out 1/2 .34 3k
[13:37] {ese} stop to break even balance .30
[13:39] {ese} 1/2 of the 1/2 .37 +.07
[13:41] {ese} out in full .39 1.5k +.09
[13:42] {ese} good enough
[13:43] {ese} dats whacher Vadim Grapher edgeeacation will dofer ya
[13:43] {Threei}  rofl
[13:43] {nemo} must be a musician
[13:44] {dino} gj ese
[13:44] {nemo} bet he's a teacher too
[13:44] {Threei}  I feel really proud of your spelling ese
[13:44] {ese} ha di geeya ges
[13:45] {ese} lol
[13:48] {nemo} next rip coming
[13:48] {nemo} .63 is WPP, next level is 132.35 or so
[14:02] {Threei}  let's see if this is finally a reversal
[14:02] {Threei}  if SPY bounces into .45 - .50 zone, FAZ/TZA should be entry
[14:09] {dino} whr sm s .99
[14:12] {ese} rvbd took off nicely
[14:20] {dino} whr stop -.19
[14:30] {Threei} Long Setup:  FAZ  .05 break
[14:30] {Threei}  If holds  .95
[14:47] {Threei}  looks better and better to me
[14:47] {Threei}  this could be our chance to fix the day
[14:48] {Threei}  has 40 cents potential
[14:50] {Threei}  in case you need a proof that insanity is not limited to any side of the pond:
[14:50] {ese} nope
[14:50] {Threei}  (ES) Spain Govt said to be encouraging large ECB involvement in a new strategy for the EU to help increase growth measures - financial press- NOTE May 20th: (EU) Spain PM Rajoy has asked German Chancellor Merkel for ECB liquidity injection into Spanish banks - Spanish press
[14:51] {Threei}  invalidated but on radar
[14:51] {nemo} I'm expecting spy and iwm to breakout
[14:52] {Threei}  well, if the next line is "Merkel agreed to inject 500B in Spain" I fully expect rally to new all time highs
[14:53] {Threei}  seriously, ar these folks totally insane?
[14:54] {Threei}  (EU) Institute of International Finance (IIF): Deterioration in the EMU requires a policy response; options include lowering interest rates further, creating new ECB loans or intervening on bonds
[14:54] {nemo} long .71 upro
[14:54] {Threei}  nice options
[14:54] {nemo} stop .55
[14:54] {Threei}  - Sees possible Spain Banking loan losses reaching approx �218-260B; expecting some banks to require Govt assistance
[14:56] {nemo} 1/3 at .90
[14:56] {Threei}  nice
[14:56] {nemo} look at spy on 15 minute
[14:59] {ese} thats a nice chart
[14:59] {nemo} yeah, and .63 is the weekly pivot
[14:59] {ese} L fas .22
[15:00] {ese} out fas .41
[15:00] {ese} +.19
[15:01] {ese} 1/2
[15:02] {nemo} spy could go to 132.40 area
[15:02] {nemo} stop is .69
[15:02] {nemo} hehehe
[15:16] {Threei} Long Setup:  FAS  .50 break
[15:16] {Threei}  if stays above .35
[15:20] {Threei}  valid
[15:26] {Threei}  half out
[15:26] {Threei}  stop .45
[15:28] {Threei}  lol
[15:28] {Threei}  that's 7th today
[15:33] {Threei}  volume is about half of Friday's
[15:34] {Threei}  to me, this is a damning indication of how significant this strength is
[15:44] {Threei}  why, why can't we short FB
[15:47] {nemo} Friday was op ex
[15:50] {dino} y
[15:50] {nemo} that might have been much of the volume on top of the FB launcy
[15:50] {nemo} launch
[15:51] {Threei}  SPY volume is singificantly lower than Thursday's too
[15:51] {Threei}  and Wed
[15:51] {Threei}  so, while both FB and op ex have their influence, it's still the story of lower volume on up day
[15:52] {dino} well thats been the story since october
[15:57] {nemo} yahoo...I actually held the rest out at 132.   69.35
[15:57] {Threei}  nice
[15:58] {Threei}  OK guys, thank you all, let's get them tomorrow
[15:58] {Threei}  have a good evening
[15:58] {dptl} gn

Nemo's Findings for the week of 5/20

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

 Here's how the IWM/SPY levels played out for the week.  See the arrows?  Somebody out there should be making money of these......

 Here are the levels for next week (btw...no sign of capitulation volume yet):

 Here's a link to my "panel" layout in Freestock charts (btw...I may have overcome the bug displaying trend and level lines in lower time frames):

 http://www.freestockcharts.com?emailChartID=f0e30758-09db-4841-8b74-08f15553a862

Here's the original post explaining the approach:


http://tradinglog.realitytrader.com/2011/12/multi-time-frame-pivot-analysis.html