Apr 27 2015

Very nice day again, with good trades in both directions, ending with 1:3er on FB short.

Also, another great review for A Taoist Trader: http://goo.gl/jn5hQV. Hard copy from Amazon or e-book from http://www.realitytrader.com/ttebook.html, get it - you won't be sorry!



Session Time: Mon Apr 27 00:00:00 2015
[08:55] {dino} gm 3i
01[08:55] {@Threei}  dino :)
[09:14] {drewj} Morning all
01[09:14] {@Threei}  drew :)
[09:16] {drewj} How are you today Vad?
01[09:16] {@Threei}  not much different from yesterday...
01[09:16] {@Threei}  which might not be a too bad thing after 40 :)
[09:16] {drewj} So how were you yesterday?
01[09:17] {@Threei}  well, you know the answer, don't you? :)
01[09:17] {@Threei}  it will involve the day before as basis for comparison
[09:17] {drewj} Are you trying to be difficult?
[09:17] {drewj} Jesus
01[09:17] {@Threei}  not really... it comes to me naturally
[09:18] {drewj} :)
01[09:18] {@Threei}  and, my sense of humor wakes up about 2 hours later than the rest of me...
[09:19] {jfjf64} Mornin all
01[09:20] {@Threei}  jf :)
[09:20] {drewj} Ask Vad how he is today JF
01[09:20] {@Threei}  guys, got you a better e-mail to use in case of tech difficulties:
01[09:20] {@Threei}  help@logixtrader.com
01[09:20] {@Threei}  faster response
[09:22] {jfjf64} How r u today vg?
01[09:23] {@Threei}  {--- crying
01[09:24] {@Threei}  but OK, let's do it again if drew insists
01[09:24] {@Threei}  [09:16] {@Threei} not much different from yesterday...
01[09:24] {@Threei}  [09:16] {@Threei} which might not be a too bad thing after 40
01[09:31] {@Threei}  Upside:
01[09:31] {@Threei}  -CANF +27% (reported positive results from Phase 2/3 psoriasis trial)
01[09:31] {@Threei}  -IBIO +9.5% (arranged production of IBIO-CFB03 for clinical development with Caliber Biotherapeutics)
01[09:31] {@Threei}  -PWRD +4.5% (enters into definitive agreement for going private transaction at $20.20/shr)
01[09:31] {@Threei}  -IGTE +3.8% (being acquired by Capgemini for $4B)
01[09:31] {@Threei}  -HSBC +3.2% (said to be considering spin-of of UK retail bank unit)
01[09:31] {@Threei}  Downside:
01[09:31] {@Threei}  -CLDN -77% (negative data for Mydicar trial: other gene therapy names also down 4-6%: BLUE, QURE, ONCE, AAVL)
01[09:31] {@Threei}  -AKRX -15% (negative broker commentary; momentum from restatement news 4/24)
01[09:31] {@Threei}  -COCO -6.5% (announced cessation of all operations)
01[09:31] {@Threei}  -AMAT -5.8% (ending merger agreement with Tokyo Electron)
01[09:31] {@Threei}  -MRVL -4.3% (negative broker commentary; momentum from reducing Q1 guidance)
01[09:32] {@Threei} Long Setup:  CLDN  3 break
01[09:32] {@Threei}  If holds  .90
01[09:33] {@Threei} Long Setup:  FB  82 break
01[09:33] {@Threei}  If holds  ,90
01[09:34] {@Threei}  Invalidated  FB
01[09:34] {@Threei}  CLDN is valid
[09:35] {jfjf64} Qsr 43 break
01[09:35] {@Threei} Long Setup:  FB  .70 break
01[09:35] {@Threei}  If holds  .60
01[09:37] {@Threei}  1:1  FB
01[09:38] {@Threei}  1:2
01[09:39] {@Threei}  1:3
01[09:39] {@Threei}  1:4
01[09:39] {@Threei}  out
[09:39] {jfjf64} Ty
01[09:39] {@Threei}  yw
[09:39] {drewj} Nice one
01[09:39] {@Threei}  :)
01[09:40] {@Threei}  CLDN, not even peek above 3?
01[09:40] {@Threei}  come on
01[09:40] {@Threei}  Invalidated  CLDN
[09:43] {jfjf64} Jd break .15
01[09:47] {@Threei} Long Setup:  JPM  .90 break
01[09:48] {@Threei}  If holds  .85
[09:50] {nemo} AAPL gravity defying before earnings
01[09:53] {@Threei}  1:1
01[09:54] {@Threei}  1:2
[09:57] {jfjf64} Vips .45 break
[09:57] {dino} drew, yuo missed a very good friday
[09:57] {dino} you
[09:58] {jfjf64} 1:1 1:2
[10:00] {drewj} I was sick...I took the day off from work as well.
[10:02] {drewj} I'll look at the log
[10:05] {jfjf64} Va .65 break short
[10:06] {drewj} How are your options plays going dino?
[10:07] {jfjf64} Stoped
[10:10] {dino} good
01[10:13] {@Threei} Short Setup: TWTR  52 break
01[10:13] {@Threei}  If holds  .10
[10:13] {dino} akrx sm ml .45
[10:14] {dino} stop is .14
[10:15] {jfjf64} Watch cldn vg
01[10:15] {@Threei}  Invalidated
01[10:16] {@Threei}  doesn't seem to have life in it jf
[10:21] {jfjf64} Dd explding
[10:23] {dino} dd sm s .66
[10:24] {dino} stop dd .97, -.31
[10:24] {dino} damn
[10:24] {dino} dd s .88
[10:25] {jfjf64} .88
[10:25] {jfjf64} Also
[10:25] {jfjf64} Stop hod
[10:26] {jfjf64} 200 shares
[10:26] {dino} akrx stopped
[10:27] {dino} 1k jf
[10:28] {jfjf64} 200
[10:28] {jfjf64} You in 1k
[10:28] {dino} y
[10:29] {dino} .60s tough
[10:29] {jfjf64} Gets pass .45
[10:29] {jfjf64} We good
01[10:30] {@Threei}  *(US) APR DALLAS FED MANUFACTURING. ACTIVITY: -16 V -12.0E
[10:30] {dino} cov dd .34, +.54
[10:33] {dino} damn, too soon
[10:33] {dino} nice read jf
[10:33] {jfjf64} Ty
[10:33] {jfjf64} Out
[10:34] {jfjf64} .74 cents
[10:34] {dino} beauty
01[10:34] {@Threei}  wtg
[10:43] {jfjf64} Tsla looks short here no?
[10:43] {jfjf64} Lol
[10:43] {nemo} no
[10:44] {nemo} UPS looks shortish here
01[10:44] {@Threei} Long Setup:  MCD  .30 break
01[10:45] {@Threei}  If holds  .20
01[10:48] {@Threei}  nah
[10:49] {nemo} or is that a "meh"
01[10:49] {@Threei}  no, meh is a 5 cents stop
[10:50] {nemo} ahhh...so "nah"="no worky"
[10:52] {dino} 3i, i saw your logix post earlier, is that who you are trading through?
[10:52] {nemo} to whom do you speak?
01[10:53] {@Threei}  yes
[11:02] {nemo} IWM looks long here
[11:02] {jfjf64} Yes
[11:02] {nemo} stop under low
[11:03] {jfjf64} Me in
[11:03] {nemo} sheesh
[11:03] {jfjf64} Me stopped
[11:03] {dino} dd hod
[11:04] {jfjf64} Buyer in there dino
[11:06] {nemo} 125.62 Weekly pivot on IWM
[11:08] {jfjf64} You short dd dino
[11:11] {dino} not yet
[11:11] {dino} having platform issues
[11:12] {jfjf64} In Iwm .91
[11:13] {jfjf64} Need to break 126
[11:13] {jfjf64} That was prob right entry
01[11:15] {@Threei}  https://www.facebook.com/VadymGraiferPhotography/photos/a.488848774527976.1073741828.483178015095052/832319220180928/?type=1
[11:16] {drewj} I just hung one of those for my daughter on our patio.
[11:16] {drewj} I was thinking of getting a few more.
01[11:17] {@Threei}  a lot of fun
[11:17] {drewj} She's got a green thumb so we've been dong a lot of gardening too.
[11:17] {drewj} 9 yrs old
[11:17] {jfjf64} 1:1 close enough
[11:18] {dino} gj
[11:18] {nemo} IWM hit pivot
[11:19] {jfjf64} You long nemo
[11:19] {nemo} no
[11:19] {jfjf64} Dd ready Dino short
01[11:20] {@Threei} Long Setup:  TWTR  .45 break
01[11:20] {@Threei}  .c .35
01[11:20] {@Threei}  If holds  .35
[11:21] {jfjf64} .60 break
[11:21] {jfjf64} Dd
[11:22] {jfjf64} Invalid
[11:27] {dino} s dd .53
[11:30] {dino} dd bs is .67
[11:33] {jfjf64} Six s .39
01[11:41] {@Threei}  no go
[11:43] {dino} dd bs to .32
[11:43] {nemo} think above .40 better
[11:44] {dino} cov dd .31, +.22. thx for idea jf
[11:44] {nemo} hasn't broken that .25 swing low
[12:02] {jfjf64} Rgls long .16
[12:03] {jfjf64} Bouncer
01[12:06] {@Threei}  Greek PM Tsipras reshuffled his team handling talks with Europe and the IMF after Finance Minister Varoufakis was sharply criticized for his performance negotiations last week. Deputy Finance Minister Tsakalatos was tapped to replace Varougakis as the main Greek negotiator, and Tsipras was reportedly preparing labor and pension concessions to satisfy European demands. The euro rose to a near three-week high on the news
01[12:06] {@Threei}  Iron ore and copper prices are up for the third consecutive session as investors bet China will take more action support the economy with stimulus of one kind or another. The reports out on Sunday suggested the PBoC might consider unconventional policies to buy assets from banks or directly buy bonds to rebuild balance sheets and reinvigorate economy.
01[12:15] {@Threei} Short Setup: TWTR  52 break
01[12:15] {@Threei}  If holds  .10
01[12:19] {@Threei}  1:1
[12:21] {jfjf64} .60 break iwm
[12:22] {jfjf64} Invalid
[12:23] {nemo} think it's close JF
[12:23] {jfjf64} Yes sir
[12:23] {jfjf64} In
[12:23] {jfjf64} Imo
[12:24] {jfjf64} I'm not in
01[12:28] {@Threei}  that pullback under .50, that was the best entry point on .50 recross
01[12:28] {@Threei}  with clear stop under .40
01[12:28] {@Threei}  aggressive entry for .60 break, double bottom
01[12:38] {@Threei}  1:1  TWTR
01[12:38] {@Threei}  1:2
01[13:15] {@Threei} Long Setup:  VXX  .30 break
01[13:15] {@Threei}  wow
01[13:15] {@Threei}  1:1
[13:29] {dino} amot drop
[13:32] {dino} amot sm l .95
[13:36] {jfjf64} Akrx short here
[13:36] {jfjf64} .20 break
[13:39] {jfjf64} 35.55 long jd
[13:42] {drewj} Hey Vad...how do you work out where to place stop and invalidation levels?
01[13:42] {@Threei}  from the chart
01[13:42] {@Threei}  nearest support or resistance
[13:43] {drewj} so you bracket the two with the price right in the middle?
01[13:43] {@Threei}  hmm?
01[13:43] {@Threei}  sorry, don't understand
[13:43] {drewj} I know I would get a lot of invalidations
01[13:44] {@Threei}  I look for a channel formed by horisontal lines
01[13:44] {@Threei}  one serves as a resistance, another as support
[13:44] {drewj} so above and below the channel
01[13:44] {@Threei}  if looking for a long, resistance serves as a trigger
01[13:44] {@Threei}  and saupport as a stop/invalidation
01[13:44] {@Threei}  and vice versa if short
[13:45] {drewj} for me some of the channels get wider than 10 cents
01[13:45] {@Threei}  sure
[13:45] {drewj} but you never use those wider ones
01[13:45] {@Threei}  then you entier: simply skip the play and go look for another
01[13:45] {@Threei}  or
01[13:45] {@Threei}  play it with smaller shares
01[13:46] {@Threei}  either
[13:46] {drewj} ok
[13:58] {dino} athm drop
01[14:16] {@Threei} Long Setup:  IWM  .40 break
01[14:16] {@Threei}  If holds  .30
[14:20] {dino} out amot .35, +.40
01[14:21] {@Threei}  wtg
[14:21] {dino} ty
[14:21] {dino} surprised it didn't bounce more
[14:21] {nemo} indexes weighing
[14:22] {dino} maybe
01[14:23] {@Threei}  1:1
[14:23] {jfjf64} AAPL .45 long
[14:23] {nemo} earnings tonight
[14:23] {jfjf64} .48
[14:23] {jfjf64} Fill
[14:27] {jfjf64} 1:2
01[14:27] {@Threei}  1:2
[14:29] {jfjf64} 1:3
[14:29] {jfjf64} Out
[14:30] {dino} gj
[14:31] {jfjf64} Ty
[14:43] {jfjf64} Vanguard group largest share holder of Apple stock
[14:43] {jfjf64} 43.9 billion
[14:43] {jfjf64} Wow
[14:44] {nemo} that's because it's the number 1 stock in the SPY and the Qs
[14:44] {nemo} they are big indexers, so they have to maintain weightings
[14:45] {nemo} If I were they, I hope they have a shitload of puts tonight
[14:45] {dino} wonder about that, aren't they long only funds
[14:45] {nemo} doesn't mean they can't own options
[14:45] {nemo} just can't be short
[14:47] {nemo} if APPL results disappoint, spy, Qs, Rut 1000, Dow gonna' STB
[15:00] {jfjf64} Emes watchin bounce
[15:03] {jfjf64} 30 break
01[15:06] {@Threei} Long Setup:  FB  .25 break
01[15:06] {@Threei}  If holds  .15
01[15:10] {@Threei}  Invalidated
01[15:10] {@Threei} Short Setup: FB  .10 break
01[15:10] {@Threei}  If holds  .20
01[15:17] {@Threei}  another review of A taoist Trader on amazon, ravingly positive
01[15:18] {@Threei}  http://goo.gl/jn5hQV
[15:20] {jfjf64} Common fb break 82 wall
01[15:23] {@Threei}  touched 1:1, so let's trail to .16
[15:28] {nemo} yeah, with AAPL after, things should get bumpy unless it lets go
[15:29] {nemo} and looks like they're gonna bring it back to VWAP
[15:29] {jfjf64} Hot .75 break s
[15:30] {nemo} .60 is support
[15:30] {drewj} OK guys, have a great rest of the day
[15:31] {nemo} vxx may be a long play into the close
01[15:31] {@Threei}  1:1
[15:31] {nemo} ass covering before aapl
01[15:33] {@Threei}  1:2
01[15:36] {@Threei}  1:3  FB  bay
01[15:36] {@Threei}  baby
01[15:36] {@Threei}  out
01[15:36] {@Threei}  nice day once again
[15:36] {nemo} there goes VXX
[15:36] {jfjf64} Nicely done
01[15:36] {@Threei}  finishing on this
01[15:36] {@Threei}  thank you all, have a great evening
01[15:36] {@Threei}  see you tomorrow
[15:36] {jfjf64} Good day

Market Week Wrap-up

TradeTheNews.com Weekly Market Update: Springtime for the Nasdaq
Fri, 24 Apr 2015 16:29 PM EST

The March quarter earnings season hit its stride this week, and just about half of the S&P500 components have released quarterly results. Global indices remain at or near all-time highs: in Asia, a PBoC RRR cut helped neutralize fears of a Chinese selloff after last Friday's regulatory crackdown (although there was another round of similar fears regulators would be tightening the screws), while in the US a few rounds of strong earnings propelled the Nasdaq above its March 2000 all-time closing high and kept the S&P near its March all-time highs. In Europe, Greece missed another deadline to present its European partners with reforms to unlock funding, but equity and bond markets seem to be reacting much less severely to the story. Leading manufacturing indicators in Asia showed a difficult start for Q2, as advance PMIs for China and Japan saw significant deterioration. Beyond the unending Greek drama, Europe was looking slightly better, with a 10-month high in the Germany April IFO survey and another month of expansion in the preliminary Eurozone manufacturing PMI data. For the week, the DJIA added 1.4%, the S&P500 rose 1.7% and the Nasdaq surged 3.2%.

There was next to no progress made in resolving the Greek crisis at Friday's Eurogroup meeting and yet another deadline for Athens to unveil its reform proposals was missed. With Europe's patience running very thin, there was talk the ECB was mulling a plan to cut off the Greek financial system from ELA support and ECB President Draghi said the council would examine the issue at a May 6th meeting. In public statements, Greek and European officials continued to talk about the need to reach a deal and Greece made a few concessions, but press reports suggested talks were very heated and Greece's creditors were considering a "final ultimatum" for Greece, with no funds released short of a comprehensive deal. The next big payment faced by Athens is a €1.4 billion bill redemption on May 8th. EUR/USD tested lows around 1.0660 on Tuesday and Thursday then rose to its highs of the week at 1.0900 on Friday.

The March home sales reports were mixed. March US existing home sales bounced higher, improving on the flattish February numbers that had been impacted by the harsh winter weather. Sales of previously owned homes climbed to the highest level since September 2013, up 13.5% y/y. Conversely, March new home sales disappointed with a 10% decline from February's relatively good level. Analysts highlighted that both reports are highly erratic and subject to big revisions. Two major homebuilders also reported contrasting quarterly results this week. DR Horton met expectations in its second quarter and offered slightly improved FY guidance, with orders up ~30% y/y. Pulte Homes widely missed earnings and revenue targets. Pulte's performance was weighed down with construction delays, which impeded closings.

In big tech, Microsoft and Amazon saw impressive gains in cloud computing revenue. Amazon's quarterly revenue rose 12% and its quarterly loss was slightly smaller than expected. Investors were happy to see the firm break out AWS metrics for the first time: AWS had revenue of $1.5 billion in the quarter, with a run rate of $5 billion a year and profits of $265 million. Microsoft's results showed CEO Nadella's turnaround well under way, with mobile hardware and cloud services revenue up sharply even as legacy licensing and PC revenue continued to decline. IBM saw its 12th straight quarter of revenue contraction, exacerbated by lower hardware sales and the strength of the dollar

Facebook's results were very good across the board, with advertising revenue up 46% y/y and user metrics up double digits. The social network joined the chorus of firms complaining about the effects of the strong dollar, saying forex headwinds would be even greater in Q2 than the 7% crimp in Q1. Google's revenue and paid clicks rose slightly less than expected, although costs were lower. Analysts had been criticizing the firm for swelling expenses over recent quarters.

Industrial names showed stress from the strength of the dollar and overseas economic weakness. Caterpillar crushed earnings expectations, however the firm warned sales and profit in each of the remaining three quarters of 2015 would be lower than the first quarter. General Motors meanwhile widely missed on earnings and revenue, with significant losses in key overseas markets. Lockheed and United Technologies both missed on revenue, although Lockheed also slightly increased its FY guidance. Boeing's revenue missed and the backlog shrank.

Consumer names Pepsi and Procter & Gamble saw flat profits and declining revenues; PG's revenue fell for the fifth quarter in a row. McDonalds disclosed grim first-quarter results: revenue declined 11% y/y and guest traffic was down in all major segments. Shares rose post-earnings after the firm said it would disclose a major turnaround plan soon and said it closed another 220 locations worldwide in the quarter. YUM! Brands saw lower profits and continuing drag in China, but tweaked its FY outlook slightly higher. Coke had a solid quarterly report. Airlines United Continental and Southwest reported very good results, citing lower fuel prices and growing demand.

Dow Chemical saw its earnings bulked up by asset sales, even as its revenue declined 14% y/y. Competitor 3M missed earnings expectations and cut its FY guidance. Both names warned FX negative impacts on sales would be substantial for the full year. Steel firms Nucor and Reliance Steel disclosed very strong first quarter results, with both companies widely beating earnings expectations. Executives from the two firms cited improving industry conditions, although they also warned pricing remains under pressure.

Comcast officially abandoned its $45 billion deal to acquire Time Warner Cable. The announcement does not come as much of a surprise, as the consensus emerged that after the FCC's net neutrality gambit the deal was next to impossible. The FCC was gearing up for hearings on the merger and press reports out this week suggested that DOJ lawyers were close to a decision to recommend blocking the merger. There is no breakup fee for either firm for walking away from the deal. Charter Communications (which is controlled by Liberty Media Corp) is widely understood to be interested in making a bid for Time Warner now that Comcast is out of the way, but reports indicate that TWC would demand a higher price than the $159/share that Comcast offered.

After weeks of rumors, Teva launched a $40.1 billion offer for rival Mylan. The cash-and-stock bid is valued at $82/share, a 48.3% premium compared to Mylan's stock price on March 10, the last trading before speculation of a link-up between the two companies. The contest won't likely be a friendly one: just last week, Mylan said a merger with Teva would be unlikely to win antitrust approval because of "significant overlap" among the two businesses. Mylan's first line of defense was making its own offer for Perrigo. However, Perrigo rejected the initial unsolicited offer of $205/share and then also spurned a formalized cash and stock offer on the grounds that Mylan's stock has been inflated by the Teva bid.

The PBoC started the week off with a bang, cutting its Reserve Requirement Ratio (RRR) by 100 bps to 18.5%, which eased some of the anxiety caused by new limits placed on margin trading last week. The economic data didn't cooperate, however. The China flash HSBC PMI registered its fourth consecutive contraction and a one year low as the headline number missed estimates. Meanwhile, Japan's preliminary April Markit manufacturing PMI missed expectations as well, and slipped into contraction for the first time in nearly a year. Japan monthly trade data saw its first surplus in almost three years, but that was at least in part due to the crash in oil prices pushing down import values.

Apr 24 2015

Inactive but still nicely profitable day, with two 1:3ers and a few scalps. Nice end to a nice week.

Session Time: Fri Apr 24 00:00:00 2015
[09:03] {dino} gm
01[09:05] {@Threei}  dino :)
[09:22] {jfjf64} Mornin men
01[09:23] {@Threei}  jf :)
01[09:30] {@Threei}  Upside:
01[09:30] {@Threei}  -LOOK +31% (announced spin-off and definitive merger agreement with Pyxis)
01[09:30] {@Threei}  -EHTH +25% (earnings)
01[09:30] {@Threei}  -GIMO +15% (earnings)
01[09:30] {@Threei}  -AMZN +13% (earnings)
01[09:30] {@Threei}  -JNPR +6.5% (earnings)
01[09:30] {@Threei}  -MSFT +5 (earnings)
01[09:30] {@Threei}  -SBUX +4.4% (earnings)
01[09:30] {@Threei}  -NEM +3.4% (earnings)
01[09:30] {@Threei}  -GOOG +3.3% (earnings)
01[09:30] {@Threei}  Downside:
01[09:30] {@Threei}  -AERI -55% (Phase 3 Rhopressa efficacy results & negative broker commentary)
01[09:30] {@Threei}  -AMSC -31% (priced 4M share offering at $6/shr)
01[09:30] {@Threei}  -UBNT -14.5% (earnings; CFO resigns)
01[09:30] {@Threei}  -DDD -11% (lowered Q1 guidance to $0.02-$0.04 v. $0.17e)
01[09:30] {@Threei}  -IMGN -9% (earnings)
01[09:30] {@Threei}  -EMES -8% (cuts distribution by 29% q/q)
01[09:30] {@Threei}  -INFY -7% (earnings)
01[09:30] {@Threei}  -AWAY -6.5% (earnings)
01[09:30] {@Threei}  -SSYS -5% (momentum from DDD guidance reduction)
01[09:30] {@Threei}  -SYNA -2.6% (earnings)
01[09:31] {@Threei} Short Setup: FB  .60 break
01[09:31] {@Threei}  If holds  .70
01[09:32] {@Threei}  Invalidated
01[09:32] {@Threei} Short Setup: FB  .70 break
01[09:32] {@Threei}  If holds  .80
[09:33] {jfjf64} Kss smashed
01[09:33] {@Threei}  Invalidated
01[09:34] {@Threei}  valid again
[09:34] {nemo} SBUX giving it back
01[09:34] {@Threei}  nah
01[09:38] {@Threei} Short Setup: JNP  .80 break
01[09:38] {@Threei}  If holds  .80
[09:38] {nemo} u mean JPM?
01[09:38] {@Threei}  JNPR
01[09:38] {@Threei}  If holds  .90
01[09:38] {@Threei}  still valid
[09:40] {jfjf64} Kss s .15
01[09:40] {@Threei}  third invalidation
[09:40] {jfjf64} 1:1
[09:41] {jfjf64} 1:2
[09:41] {dino} syna sm l .18
[09:42] {dino} kss sm l .15
[09:44] {jfjf64} Bhp 51 break long
[09:46] {jfjf64} Invalid
[09:46] {jfjf64}  Mkt heavy
01[09:46] {@Threei} Long Setup:  IWM  .20 break
01[09:46] {@Threei}  change to .15
01[09:47] {@Threei}  If holds  .05
[09:48] {dino} out kss .45, +.30
[09:49] {jfjf64} Nice
[09:49] {jfjf64} Snuck .60 break
[09:50] {jfjf64} Sbux
[09:50] {dino} ty
[09:50] {dino} rmd hl l .70
[09:51] {jfjf64} Invalid
01[09:52] {@Threei}  1:1
[09:52] {dino} kss hl l .15 ave
[09:53] {dino} asps giddy-up again
[09:55] {jfjf64} .50 break sbux
[09:57] {dino} rmd stopped -.24
[09:57] {jfjf64} Invalid
[09:58] {jfjf64} Dino you long kss
[09:58] {dino} syna drop
01[10:00] {@Threei} Short Setup: JNPR  26 break
01[10:00] {@Threei}  If holds  .10
[10:00] {dino} out kss .56, +.41
[10:01] {dino} syna hl l .54
[10:03] {dino} whippy
01[10:04] {@Threei}  1:1
[10:04] {dino} or as stewie would say, "(w)hippy"
[10:04] {dino} rmd sm l .11
[10:05] {dino} 07 red
[10:06] {dino} kss hl l .13
[10:07] {dino} out kss .43, +.30
[10:07] {dino} too soon
[10:10] {nemo} EBAY
01[10:12] {@Threei} Long Setup:  IWM  126 break
01[10:12] {@Threei}  If holds  .90
[10:16] {dino} out syna .26, +.72
01[10:17] {@Threei}  1:1
[10:21] {dino} syna sm l .89
[10:22] {jfjf64} Missed .60 break sbux
[10:22] {jfjf64} Raced up
[10:24] {jfjf64} Rsg 85 break
[10:26] {dino} syna stopped -.33
[10:28] {jfjf64} 1:1
[10:28] {dino} syna sm l .20
[10:28] {jfjf64} Dnkn lifetime high
[10:28] {dino} definition of pulp, syna
01[10:30] {@Threei}  1:2
[10:34] {dino} out syna .97, +.77
[10:35] {dino} hmm, felt drop coming...
[10:36] {dino} damn
[10:39] {jfjf64} Tso .90 break
[10:41] {jfjf64} No go
[10:43] {jfjf64} Mad myself took that
[10:46] {jfjf64} Baba hod break.55
[10:46] {jfjf64} Hold .45
[10:51] {jfjf64} 1:1
[10:51] {jfjf64} 1:2
[10:54] {jfjf64} 1:3
[10:54] {dino} gj
[10:55] {jfjf64} Ty sir
[10:55] {jfjf64} Out
[10:57] {jfjf64} Dis bam
[11:01] {jfjf64} Cat
[11:02] {jfjf64} .20 break wd of been nice cat
01[11:05] {@Threei}  1:3
01[11:05] {@Threei}  out
01[11:05] {@Threei}  took a while
[11:06] {dino} taking remainder 200 syna off, out .50, +1.30
[11:06] {dino} back in 30 or so
[11:07] {dino} out rmd .22 from earlier, got lucky, +.11
[11:07] {jfjf64} Nice job vg dino
[11:08] {dino} ty, gotta hop for awhile
[11:08] {jfjf64} Do ya thing brother
[11:08] {jfjf64} If hoppin is what it is enjoy
01[11:09] {@Threei}  lol
[11:09] {jfjf64} Lol
01[11:49] {@Threei}  hmmm
01[11:49] {@Threei}  http://www.usedvictoria.com/classified-ad/FREE-Im-Giving-Out-My-Beautiful-Jayco-Jay-Flight-28BHS_24949384
01[11:49] {@Threei}  free RV
01[11:49] {@Threei}  how about I take it, sell my house and become a nomad
01[11:50] {@Threei}  travel from campground to campground, make photos...
01[11:50] {@Threei}  drift to the south during winter, north in the summer
[11:53] {dino} miss much?
01[11:53] {@Threei}  no
01[11:53] {@Threei}  very quiet market
[11:55] {dino} alrighty then
[11:59] {dino} rmd sm l .35
[12:00] {dino} syna sm l .71
[12:05] {dino} volume drying up, scanners barely moving
[12:05] {dino} summer fridays sarting early/
[12:06] {dino} ?
[12:06] {nemo} started in February
[12:06] {dino} yeah
[12:07] {nemo} all the buybacks are taking the market private
[12:08] {dino} buybacks drive me crazy. they buy back high and issue low. waste of shareholder money, just issue dividends
[12:08] {nemo} tax differential
[12:10] {dino} wrong. keep the cash then. not the reason. they do it because they are wasteful, ran out of ideas, don't care about shareholders, p.r. stunt our stock is great investment
[12:10] {nemo} then why does Icahn demand buybacks from AAPL?
[12:10] {dino} less shares boost quartery earnings, by wasting shareholder money
[12:11] {dino} he's wrong there
[12:11] {dino} ibm wasting billions doing this for years
[12:11] {dino} fake earnings beat
01[12:13] {@Threei} Long Setup:  IWM  .10 break
01[12:17] {@Threei}  If holds  .05
[12:17] {nemo} .o1 is pivot
[12:33] {dino} out syna .91, +.30
01[12:34] {@Threei}  wtg
[12:34] {dino} ty
[12:45] {dino} wow, sold that about .80 too soon
[12:50] {jfjf64} Anything going on
01[12:51] {@Threei}  not much, except dino always finds something
[12:51] {jfjf64} Yes he does
[12:52] {nemo} if you don't mind the hooker spreads
[12:52] {jfjf64} Not my type of girls
[12:52] {nemo} lot less headaches than a wife
[12:52] {jfjf64} True
[12:53] {jfjf64} Like tighter ones
[12:53] {jfjf64} Dino don't mind messy
[12:53] {jfjf64} He knows how do deal with those
[12:53] {nemo} oh...you're talking about spreads?
[12:53] {jfjf64} Yes
[12:54] {jfjf64} Lol
[12:54] {nemo} I was gonna' say, go to Vietnam
[12:54] {jfjf64} I cd think of better places to go
[12:55] {nemo} ahhh...not for what you were talking about...Thailand maybe
[12:55] {nemo} wow less than 30 million spy
[12:56] {dino} lol
[13:07] {jfjf64} Hlf gettin hit
[13:08] {nemo} all day
[13:08] {jfjf64} Exc
[13:08] {nemo} huh?
[13:12] {jfjf64} Symbol exc
[13:12] {nemo} nuclear
[13:12] {jfjf64} Had big bar up
[13:12] {jfjf64} Hlf.20 long
[13:13] {jfjf64} Missed it
[13:13] {nemo} hooker spread
[13:15] {jfjf64} Cbi bounce time ??
[13:17] {jfjf64} Dpz lifetime high
01[13:18] {@Threei}  CBI... looks ready
01[13:18] {@Threei}  48 break
[13:18] {nemo} this is S3 on daily
[13:19] {jfjf64} Yes
[13:23] {jfjf64} Rat
[13:23] {nemo} 47.60
[13:24] {jfjf64} Support
[13:24] {nemo} break out level on hourly, could go down to .24
[13:25] {jfjf64} Not messin with it
[13:25] {jfjf64} Dpz  flyin
[13:29] {dino} upgraded to 108
[13:33] {jfjf64} Where is drew today
01[13:37] {@Threei}  just a day off
[13:40] {jfjf64} Thinkin .10 break on cbi
[13:40] {jfjf64} Hold 48.00
[13:41] {jfjf64} Didn't take
[13:44] {jfjf64} Baba lou
[13:50] {nemo} CBI came back to .60 just above the breakout area
[13:51] {jfjf64} Our thought was right timing off
[13:52] {nemo} I just forgot about it
01[13:53] {@Threei}  https://www.facebook.com/VadymGraiferPhotography/posts/830470290365821
[13:53] {jfjf64} Yum 86 break in
06[13:54] * dino slaps nemo around a bit with a large trout
[13:54] {dino} figured you missed that
06[13:54] * nemo chambers a round
[13:54] {dino} lol
[13:55] {jfjf64} Up a buck
[13:55] {dino} rmd driving me crazy, taking it off here
[13:55] {nemo} we might want to start taking 4 day weekends
[13:56] {jfjf64} Why
[13:56] {nemo} trading environment
[13:56] {dino} out rmd 81, +.46
[13:58] {dino} slow, but way over goal today
[13:58] {jfjf64} No complaints here
[13:59] {jfjf64} Out flat yum
[13:59] {dino} 9 beans net
[13:59] {jfjf64} Nice sir
[14:00] {jfjf64} You buyin 1st round
[14:00] {dino} real nice morning
[14:00] {dino} funny you should ask, just sent out some text messages asking whos showing for happy hour
[14:00] {jfjf64} I'm in
[14:01] {dino} ok, see you in couple hours
[14:01] {jfjf64} I'm going to ranger game tonight else I meet ya
[14:01] {nemo} Hah, and I have to work out
[14:01] {dino} enjoy. just hitting my sisters pub for couple
[14:01] {nemo} "sister's"
[14:01] {dino} or sisters'
[14:02] {nemo} true
[14:02] {nemo} but I think you have only one
[14:02] {nemo} who owns a pub
[14:02] {dino} ahh, good point. the other dental hygenist
[14:02] {nemo} yeah, you've talked too much over the years
[14:03] {nemo} ahhh...bunny looking for her afternoon snack
[14:03] {dino} bored. locked in a 10x10 basement office. even my dog blew me off today.
[14:03] {jfjf64} Look at cbi
01[14:03] {@Threei}  no
[14:03] {nemo} frickin' rabbit is over 5 years old
[14:04] {dino} wants vwap
[14:04] {nemo} cbi going to vwap
[14:04] {nemo} yep
[14:04] {nemo} probabaly won't go above given today's action
[14:05] {jfjf64} Vwap welcome back Nemo haven't herd that in awhile the vwap kid is back
[14:06] {nemo} all I can do to keep from swearing
[14:06] {jfjf64} Ease into it
[14:06] {nemo} Raspizdyi
[14:06] {nemo} there, I'll do it in Russian
[14:06] {jfjf64} Vg trying to promote room no swearing
[14:07] {nemo} manga La Gaza
[14:07] {jfjf64} That works
[14:07] {jfjf64} Lol
[14:07] {nemo} Pug Ma Thoin
[14:07] {jfjf64} Manga la gaza
[14:07] {nemo} thought I'd throw in Italian and Gaelic
[14:07] {nemo} yep
[14:07] {dino} ytcrfr
[14:08] {dino} or f%ck
[14:08] {nemo} dino speaks dislexic
[14:08] {jfjf64} You drinkin or quit
[14:08] {nemo} Vad...can you believe that?
[14:08] {dino} quiting at 3, drinks at 4
[14:09] {nemo} I hang out with Russians...quitting is not an option
01[14:09] {@Threei}  lol
[14:09] {nemo} shit...the guy I drink with makes me work out drunk
[14:09] {jfjf64} Sounds good dino
[14:09] {jfjf64} There goes yum
[14:09] {nemo} you ever seen two inebriated individuals going at it with swords?
[14:10] {nemo} a little tough on the walls
[14:10] {jfjf64} Twc explode
[14:10] {nemo} btw...IWM walking the 2day vwap since 12:45
[14:11] {jfjf64} Think higher or lower
[14:11] {nemo} if you short here stop above VWAP'
[14:12] {nemo} frankly,  nothing says anything at the moment
[14:12] {dino} vsm s twc .91
[14:12] {nemo} VXX weak  aapl weak, IWM SPY flat
[14:12] {jfjf64} Skx explode
[14:12] {nemo} earnings
[14:13] {nemo} MSFT
[14:13] {jfjf64} The fb of shoes
[14:13] {nemo} have you quit drinking?
[14:14] {jfjf64} Not me
[14:14] {dino} die twc
[14:14] {nemo} I was being sarcastic
01[14:15] {@Threei} Short Setup: TWTR  .95 break
01[14:15] {@Threei}  If holds  .05
[14:15] {dino} not me
[14:15] {dino} vad quit
[14:16] {jfjf64} Yeah
[14:16] {nemo} Vad?
[14:16] {jfjf64} No drink
06[14:16] * nemo faints
[14:16] {dino} cov twc .85, +1.06
06[14:16] * nemo calls 911
01[14:16] {@Threei}  wtg
[14:16] {dino} jf ty for idea
[14:16] {jfjf64} There ya go dino
[14:16] {jfjf64} Twc
[14:16] {jfjf64} Always pal
[14:17] {nemo} classic Dino (only) play
[14:17] {jfjf64} Tv
[14:18] {dino} drew missing a very good trading day
01[14:19] {@Threei}  yesterday was even better
[14:19] {jfjf64} Wed even better
[14:20] {nemo} VXX
[14:20] {jfjf64} Vxx hasn't been friend lately
[14:21] {dino} sucks lately, going to zero
[14:21] {nemo} no, but if people want to cover exposure it'll be on Friday
[14:22] {dino} syna spike
[14:23] {dino} thing should go up, decent report
[14:23] {jfjf64} Def teenager
[14:23] {jfjf64} Vxx
[14:25] {jfjf64} Good day all enjoy weekend
[14:25] {jfjf64} Go rangers
[14:25] {jfjf64} Going drinkin in big apple
[14:26] {dino} have fun jf
01[14:26] {@Threei}  take care jf
[14:26] {nemo} been to that park
[14:26] {dino} i was at a fight and a hockey game broke out
[14:26] {nemo} old joke
[14:27] {dino} yes
[14:27] {jfjf64} Lol
[14:27] {nemo} oh...NY Rangers...I hate MSG
[14:28] {nemo} IWM looking short, but not yet
[14:28] {nemo} VXX looking short, which is contradictory
01[14:28] {@Threei}  1:1
01[14:36] {@Threei}  1:2
01[14:38] {@Threei}  1:3
01[14:38] {@Threei}  out
[14:39] {dino} wtg
01[14:39] {@Threei}  ty
01[14:39] {@Threei}  nice steady day, albeight not too active
01[14:39] {@Threei}  -gh
[14:42] {dino} cavm blood, -7 two days, no news
[14:47] {dino} gotta hop, have great weekend
01[14:49] {@Threei}  ok guys, have a good weekend all
01[14:50] {@Threei}  see you Monday
[15:05] {nemo} holy shit, less than 40 mil spy

Apr 23 2015

Classic double top, with two upward tails 

(Chart courtesy of a broker)

Beautiful day with many strong juicy trades and just one stop.

Session Time: Thu Apr 23 00:00:00 2015
[09:16] {drewj} Morning guys
[09:17] {dino} gm all
[09:17] {dino} drew you missed the classic spike on hiring investment bankers for ocr at 3:30 yesterday. i shorted it for $1.20
[09:18] {drewj} that sounds really interesting
[09:18] {drewj} i'll check it out
01[09:18] {@Threei}  drew, dino :)
01[09:19] {@Threei}  and jf got it long for a few bucks
[09:20] {dino} yeah, we hit that one hard
[09:20] {drewj} Man that was some spike
[09:20] {dino} 3i, guess what i awoke to this morning...snow covering the lawn.
01[09:21] {@Threei}  oh boy
[09:21] {drewj} depressing
[09:21] {drewj} no snow here
[09:22] {drewj} had some flakes in the afternoon yesterday
[09:22] {dino} never ends
01[09:31] {@Threei}  Upside:
01[09:31] {@Threei}  -ARRS +20% (PIC.UK recommends combination)
01[09:31] {@Threei}  -DNKN +9.0% (earnings)
01[09:31] {@Threei}  -SKX +6.9% (earnings)
01[09:31] {@Threei}  -CYTX +6.3% (reports Preclinical and Mechanistic Data Supporting Use of Cytori Cell Therapy in Wounds Combining Thermal Burn and Radiation Exposure)
01[09:31] {@Threei}  -SQM +5.4% (CEO said to resign)
01[09:31] {@Threei}  -EBAY +4.6% (earnings)
01[09:31] {@Threei}  -NCR +4.3% (said to consider strategic options including divestitures, buyback, dividend)
01[09:31] {@Threei}  -ORLY +3.9% (earnings)
01[09:31] {@Threei}  -CAT +3.7% (earnings)
01[09:31] {@Threei}  -PII +3.7% (earnings)
01[09:31] {@Threei}  -SWK +3.6% (earnings)
01[09:31] {@Threei}  Downside:
01[09:31] {@Threei}  -MOBL -33% (preliminary earnings)
01[09:31] {@Threei}  -ERIC -12% (earnings)
01[09:31] {@Threei}  -TXN -9.2% (earnings)
01[09:31] {@Threei}  -SNE -6.7% (raises FY14/15 guidance)
01[09:31] {@Threei}  -PHM -5.0% (earnings)
01[09:31] {@Threei}  -PBR -4.5% (earnings)
01[09:31] {@Threei}  -LVS -4.4% (earnings)
01[09:31] {@Threei}  -MMM -2.8% (earnings)
01[09:31] {@Threei}  -GM -2.7% (earnings)
01[09:31] {@Threei}  -FCX -2.7% (earnings)
[09:32] {jfjf64} Skx spike
01[09:32] {@Threei} Long Setup:  LVS  .60 break
01[09:33] {@Threei}  If holds  .50
01[09:33] {@Threei}  Invalidated
01[09:35] {@Threei} Long Setup:  FB  84 break
01[09:35] {@Threei}  Invalidated
01[09:36] {@Threei} Short Setup: FCX  .10 break
01[09:36] {@Threei}  If holds  .20
01[09:37] {@Threei}  1:1
01[09:38] {@Threei}  1:3
01[09:39] {@Threei}  out
[09:39] {jfjf64} Ty
01[09:39] {@Threei}  yw
[09:39] {dino} cavm?
01[09:40] {@Threei}  no fresh news
01[09:43] {@Threei}  wow FB
[09:44] {drewj} dino what percentage drop are you looking for?
01[09:46] {@Threei}  Russian Defense Ministry: US troops are present in conflict zone in eastern Ukraine
01[09:46] {@Threei}  imbecile
01[09:47] {@Threei} Short Setup: FB  ,90 break
01[09:47] {@Threei}  If holds  85
01[09:47] {@Threei}  Invalidated
[09:48] {dino} 4%+
[09:49] {drewj} ty
[09:51] {dino} cavm sm l .03
01[09:51] {@Threei} Long Setup:  LVS  .50 break
01[09:51] {@Threei}  If holds  .40
01[09:52] {@Threei}  Invalidated
[09:54] {dino} cavm out .52, +.49
[09:54] {jfjf64} Nice
[09:54] {dino} ty
[09:55] {jfjf64} Pep .85 short
[09:55] {dino} espr spike
[09:56] {jfjf64} Invalid
01[09:58] {@Threei}  visual: http://tradinglog.realitytrader.com/2015/04/apr-23-2015.html
[09:59] {jfjf64} Nice
[10:00] {dino} cavm hl l .21
01[10:00] {@Threei}  March New Home Sales 481K v 515KE
01[10:01] {@Threei} Short Setup: FB  .50 break
01[10:01] {@Threei}  If holds  .60
01[10:02] {@Threei}  1:1
[10:03] {dino} out cavm .51, +.30
[10:03] {jfjf64} Nice dino
[10:04] {dino} tso gap fill
[10:05] {dino} ty
[10:05] {jfjf64} Tso short 90 break
[10:05] {jfjf64} 1:1
01[10:06] {@Threei}  1:2
[10:08] {dino} gj, i was thinking long
01[10:08] {@Threei}  1:3
[10:08] {dino} gj vad
01[10:08] {@Threei}  ty
[10:08] {jfjf64} Ty vg out
01[10:09] {@Threei}  yw
[10:09] {jfjf64} Keep it coming boss
01[10:09] {@Threei}  btw, don;t tell anyone guys... but nemo's situation slowly clears up, should be back with us soon
[10:09] {jfjf64} Nice
[10:11] {jfjf64} Two puttin base in now dino
[10:11] {jfjf64} Tso
[10:12] {jfjf64} Pep break lod
[10:12] {jfjf64} .85
[10:12] {jfjf64} Hold .95
[10:13] {dino} good to hear 3i.
[10:13] {dino} tso hl l .75
[10:13] {dino} stop .48
[10:14] {jfjf64} Invalid pep
[10:14] {dino} lfc hl l .22
[10:15] {dino} lfc stop .98
[10:16] {dino} nord spike
[10:16] {dino} tso stopped
[10:17] {jfjf64} Tel .75 break short
[10:17] {dino} asps luv
[10:18] {jfjf64} 1:1
[10:20] {dino} gj
06[10:20] * @Threei slaps nemo around a bit with a greeting banner
[10:21] {nemo} hi
01[10:21] {@Threei}  hey :)
[10:21] {nemo} hello
[10:21] {jfjf64} Memo welcome bk
[10:21] {jfjf64} Lol
[10:21] {jfjf64} Nemo
[10:22] {nemo} I'm in and out...really  busy as a matter of fact I'm going to quit and comeback...MIRC screwing with the computer....something weird going on
[10:23] {dino} welcome back nemo
01[10:24] {@Threei}  mib, see private message
01[10:24] {@Threei} Long Setup:  FB  .70 break
01[10:24] {@Threei}  If holds  .60
01[10:24] {@Threei}  1:1
[10:24] {dino} cavm hl l .94
[10:25] {jfjf64} Tso stopped you out Dino?
[10:25] {dino} yes .48
[10:26] {dino} report looked fine
[10:31] {jfjf64} Likin zmh
[10:31] {dino} tso hl l .65
[10:32] {jfjf64} Ctxs l .30
[10:34] {jfjf64} 1:2
[10:34] {dino} gj
[10:34] {drewj} Dino so when you see the 4% drop on the scanner do you go check the news?
[10:34] {dino} yes
[10:34] {drewj} Or will you trade it just based on the chart?
[10:35] {dino} my platform has news right with the drop, so i look at it
[10:35] {dino} out .90, tso, +.25
[10:36] {dino} chart is the idea, then look for news, then trade chart if news is nothing or imo meaningless
[10:36] {jfjf64} Nice dino
[10:37] {dino} scanners pick up the spike/drop, chart confirms it, news to decide action, then chart to committ
[10:37] {dino} nord feels like one more spike coming
[10:38] {dino} giddy-up ua
[10:38] {dino} welcome back nemo
[10:38] {nemo} hi dino
[10:39] {dino} missed ya buddy, hope all is well
[10:39] {nemo} life in a very busy period
01[10:39] {@Threei}  is mirc OK now?
[10:40] {nemo} yeah, computer developed a helluva load I couldn'
[10:40] {nemo} pinpoint so rebooted
[10:44] {drewj} dino if the news is meaningless you trade it?
[10:45] {drewj} and avoid bigger stuff?
[10:45] {dino} meaningless or non-existant yes. not sure what you are asking on avoid bigger stuff
[10:45] {jfjf64} Bax .75 break
[10:46] {drewj} bigger stuff = more meaning
[10:46] {drewj} I get it though
[10:46] {dino} ahh, yes. i'm not much of a momo trader
[10:46] {drewj} you trade random spikes...
[10:46] {dino} yes
[10:47] {drewj} momo is another world
[10:47] {dino} there are "better worlds"
[10:48] {dino} thats my edge
[10:48] {jfjf64} 1:1
[10:48] {drewj} what are better worlds?
[10:48] {dino} dark towers/stephen king. for trading means better stocks
[10:48] {dino} i stay away from the crowds
[10:49] {jfjf64} 1:2
[10:49] {dino} gj
[10:50] {jfjf64} Ty
[10:51] {jfjf64} 4-0 today  most 1:2 though
[10:51] {jfjf64} Big one coming
[10:51] {dino} nice
[10:51] {dino} 3/4 w/2 still open
[10:52] {jfjf64} Nice
[10:52] {jfjf64} Wish I was in this dnkn
[10:52] {jfjf64} Came on scanner ignored
[10:53] {jfjf64} At 10:37
[10:53] {dino} mdso spike
[10:58] {jfjf64} Had feelin wd test 54 round #
[10:59] {dino} tso dropping again
[10:59] {dino} dplo spike
[11:02] {drewj} dino do you follow the same process for you options plays?
01[11:03] {@Threei} Long Setup:  LVS  .60 break
01[11:03] {@Threei}  If holds  .50
[11:03] {dino} to find ideas yes. but the options are based on over-reactions in my opinion, on a swing basis
[11:05] {drewj} so same process but different news based decisions?
[11:05] {nemo} NSC at resistance on hourly
[11:06] {dino} yea
[11:06] {jfjf64} Mdso getting over bought ready
01[11:07] {@Threei}  1:1
01[11:07] {@Threei}  1:2
[11:07] {jfjf64} Let's get hod vg
[11:07] {drewj} what is it about the news that's differnt?
[11:08] {jfjf64} Here we go
[11:09] {dino} options, i look at good news with stock knocked down couple points. then buy calls
[11:10] {jfjf64} 1:4 vg out
01[11:11] {@Threei}  1:3
01[11:11] {@Threei}  1:4
[11:11] {drewj} So you are using Vad's divergence stuff
01[11:11] {@Threei}  out
[11:11] {jfjf64} 1:4 vg
[11:12] {jfjf64} All these wins can't count
[11:12] {jfjf64} No?
01[11:13] {@Threei}  ?
[11:14] {jfjf64} Lvs as high as 1:4
[11:14] {jfjf64} I'm sorry
[11:15] {jfjf64} You were writing in green now blue
01[11:15] {@Threei}  оч
01[11:15] {@Threei}  oh
01[11:16] {@Threei}  green is scripted message
01[11:16] {@Threei}  I have those up to 1:3, the reast is manually typed
[11:16] {jfjf64} No prob keep winning I'll fig out
[11:18] {dino} lol
[11:18] {dino} vltc knocked down
[11:19] {jfjf64} Hmm cat good earnings gettin spanked
[11:21] {jfjf64} .75 short cat
[11:21] {jfjf64} Break
[11:21] {jfjf64} 1:1
[11:22] {dino} added cat calls
[11:22] {jfjf64} 1:2
[11:22] {nemo} cat pivot .30
[11:22] {jfjf64} Ty nemo
[11:23] {jfjf64} 1:3
[11:23] {dino} gj
[11:24] {jfjf64} Stop .55
[11:24] {jfjf64} 1:4
[11:24] {nemo} keep ebay on radar earnings beat but...
[11:25] {jfjf64} Out
[11:27] {dino} brb
[11:28] {jfjf64} Skx wanted at .25
[11:29] {jfjf64} Will get bk up to hod
[11:29] {jfjf64} Imo
01[11:33] {@Threei}  FB
01[11:33] {@Threei}  FB Hearing chatter that AlphaOne's Dan Niles has now sold out of stake
01[11:33] {@Threei} Long Setup:  FB  .40 break
01[11:33] {@Threei}  If holds  .30
01[11:34] {@Threei}  heavy
01[11:34] {@Threei}  on CNBC soon
01[11:35] {@Threei}  1:1
[11:35] {jfjf64} Our heavy lifting over
[11:36] {jfjf64} Love getting those 1:1
[11:36] {jfjf64} House money now
01[11:36] {@Threei}  yup
01[11:36] {@Threei}  take risk and stress off one's shoulder
01[11:36] {@Threei}  s
[11:36] {jfjf64} Basically what it comes down to
[11:37] {jfjf64} Only way to trade
[11:37] {jfjf64} See no stress
[11:37] {drewj} That's how I need to think
[11:37] {drewj} that and my 4
[11:38] {drewj} 4-7-8 breathing
01[11:38] {@Threei}  1:2
[11:38] {jfjf64} Follow vg rule
01[11:38] {@Threei}  you tried that drew?
[11:38] {drewj} yes
01[11:38] {@Threei}  how does it feel?
[11:38] {drewj} Watched Dr. Weil
[11:38] {jfjf64} 478
[11:38] {drewj} i like it
01[11:38] {@Threei}  1:3
01[11:38] {@Threei}  me out
01[11:38] {@Threei}  beautiful day
[11:39] {drewj} focus on longer breaths out
[11:39] {jfjf64} Meout
[11:39] {jfjf64} Scary day sir
[11:40] {jfjf64} Im5-0. Vg 5-0
[11:40] {jfjf64} Me going to lunch
[11:41] {jfjf64} Skx I'm in
[11:42] {jfjf64} My swing
[11:43] {jfjf64} Len getting smashed
[11:43] {jfjf64} Cat smashed
[11:44] {dino} len, that just off of sales? or phm
[11:47] {jfjf64} No idea
[11:47] {drewj} what is the panic button on logix for?
[11:47] {dino} sym?
[11:48] {jfjf64} When ya hit it little man pops out smacks ya in head
[11:48] {drewj} lol
[11:48] {dino} logix what symbol?
[11:48] {drewj} can i hit someone else with it?
[11:48] {jfjf64} R spike
[11:48] {jfjf64} All time high
[11:48] {drewj} it's on the queries tab
[11:49] {jfjf64} Sells you out of all positions
[11:49] {drewj} ty
[11:50] {jfjf64} K guys I'm out see all later
[11:50] {dino} mhk drop
[11:50] {dino} cya jf
[11:50] {dino} gfj
[11:53] {dino} tso sm l .20 ave
[11:56] {dino} hard to keep this bull market down
[11:57] {drewj} it's never going to end right
01[11:57] {@Threei}  nope
01[11:57] {@Threei}  it will go up forever
[11:57] {dino} 20k it wants
01[11:58] {@Threei}  and when we reach the limits of the Solar system, we will break out in open space
01[11:58] {@Threei}  tie me to the mast, and beyond the outer limits we go
[11:59] {dino} qe to infinity and beyond
[12:00] {dino} tso stopped, .82 -.38
[12:01] {nemo} ebay didn't really move up in that pop
[12:01] {dino} taking a break
[12:02] {nemo} this index action could be just a stop run...how it closes, we'll know
[12:03] {nemo} Qs on the verge of an all-time closing high
[12:03] {nemo} the NAS that is
01[12:08] {@Threei}  Unlike the big improvement in yesterday's March existing home sales, today's March new home sales data was disappointing. Existing home sales had bounced higher off the weather-impacted February numbers, but the March new home sales declined more than 10% from February's total
01[12:09] {@Threei}  There has been a raft of dicey Greece headlines heading into Eurogroup meeting on Friday. A Greek official claimed a deal was very close and that no "plan B" was under discussion. One notable report suggested that a potential deal may involve Greece requesting that the ESM facility be used to buy Greek government bonds held by the ECB, with the resulting proceeds used to pay for debt redemptions over the summer.
[12:10] {nemo} EBAY looks short, just don't like time of day
[12:11] {nemo} appl about to pop
[12:11] {nemo} earnings Monday night
[12:35] {jfjf64} I miss anything
01[12:36] {@Threei}  no
[12:37] {jfjf64} Dtv gonna go
[12:39] {jfjf64} R also
01[12:44] {@Threei}  mib, see private message
01[12:45] {@Threei} Long Setup:  VXX  .97 break
01[12:45] {@Threei}  If holds  .92
01[12:45] {@Threei}  just a scalp most likely
01[12:45] {@Threei}  we got our dose of 1:3ers for this morning :)
[12:54] {jfjf64} R going
[12:54] {jfjf64} Almost .50 cents
[12:54] {jfjf64} Didn't play
[12:55] {jfjf64} Dtv would of been stop
[12:59] {dino} .
01[13:05] {@Threei}  nemo, you were rigth on EBAY
[13:06] {nemo} yeah, still weak, if market comes in it'll tank
[13:06] {nemo} missed FB, was looking at it, then boom
01[13:06] {@Threei}  yes, nice saupport at .50 to break
01[13:08] {@Threei}  The Moscow Times: Russian TV reporter starts new fire for film report about devastating wildfires
01[13:08] {@Threei}  sounds about right
01[13:09] {@Threei} Short Setup: EBAY  .50 break
01[13:09] {@Threei}  If holds  .60
[13:11] {nemo} resistance could go to .70 area
01[13:11] {@Threei}  Invalidated
01[13:11] {@Threei}  for now
[13:14] {nemo} IWM on a tear
[13:22] {nemo} IWM gap fill
[13:27] {nemo} here's scary part, holding .70 makes .75 break a valid long
[13:27] {nemo} ebay
01[13:30] {@Threei} Short Setup: EBAY  .70 break
01[13:30] {@Threei}  If holds  .80
[13:32] {dino} out lfc from morning, .68, +.46
[13:33] {nemo} CAT
[13:33] {nemo} if can't get above VWAP short
[13:40] {nemo} SPY @support
01[13:45] {@Threei}  half out VXX
01[13:50] {@Threei}  stop to .96
[13:52] {dino} still snow flurries here
01[13:53] {@Threei}  1:1  EBAY
[14:00] {dino} damn uri, had bid in for calls yesterday, didn't fill
[14:09] {Chaeron} boo
[14:10] {dino} hey chaeron
[14:10] {Chaeron} hey dino, everyone
01[14:11] {@Threei}  chaeron :)
[14:24] {dino} anip spike
[14:24] {dino} chke drop
[14:41] {dino} data spike
[14:42] {drewj} data earnings?
[14:45] {dino} none i see
[14:46] {drewj} so with no news is it a candidate?
[14:52] {dino} unless earnings tonight
[14:53] {dino} earnings 5/7
[14:55] {dino} data careful on, personality is pulp
[14:57] {drewj} sorry what?  personality?
[15:00] {dino} chtr spike
[15:00] {dino} yes personality. stocks trade in personalities. data is a pulp type
[15:00] {dino} msft is thick, some are thin, etc
[15:02] {drewj} does that mean larger swings?
[15:02] {drewj} on data?
[15:04] {dino} pulp moves baby, jerry seinfeld. means a stock is going fast/or gapping
[15:05] {drewj} :)
[15:12] {dino} data smr s .48
01[15:13] {@Threei}  you've gotta be kidding me
[15:13] {dino} ?
01[15:13] {@Threei}  never mind... :)
01[15:14] {@Threei}  mib, look private message!
01[15:15] {@Threei} Long Setup:  FB  .10 break
01[15:15] {@Threei}  If holds  83
01[15:18] {@Threei}  no go
01[15:19] {@Threei}  first stop today
[15:22] {dino} cov data .06, +.42
[15:23] {dino} wes drop
[15:25] {dino} ty
[15:28] {dino} lol
01[15:33] {@Threei} Long Setup:  FB  .70 break
01[15:33] {@Threei}  If holds  .60
01[15:33] {@Threei}  trying for double bottom
[15:33] {nemo} aapl letting go indexes coming in
01[15:35] {@Threei}  1:1
01[15:36] {@Threei}  1:2
[15:37] {dino} gj
01[15:38] {@Threei}  ty
[15:41] {nemo} MSFT GOOG AMZN SBUX earnings after bell
[15:48] {dino} sgc drop
01[15:51] {@Threei}  thank you all, wonderful day we had
[15:51] {dino} gn
01[15:51] {@Threei}  have a great evening, see you tomorrow!
[15:52] {dino} i like that sgc for bounce but no time left
[15:53] {dino} may go 18.30 supp
[15:55] {dino} not mess ing w/it. calling it a day. gn all

Apr 22 2015

Back to our winning streak. Nice day with a lot of good juicy trades, and some phenomenal one (OCR caught by members both ways, long and short). There were also interesting educational discussions so make sure to read the log.


Session Time: Wed Apr 22 00:00:00 2015
[09:00] {dino} gm
[09:00] {drewj} morning fellas
01[09:02] {@Threei}  dino, drew :)
[09:11] {drewj} big jump on asml dino
[09:15] {dino} aec spike
[09:16] {dino} buyout 28.75
[09:16] {drewj} what's your minimum dollar move?
[09:19] {dino} uri interesting
[09:19] {dino} drew, you asking me?
[09:19] {drewj} I was
[09:20] {dino} don't have one, depends on stock price, % move more accurate
[09:20] {dino} uri bg beat
[09:21] {dino} oii blood
01[09:23] {@Threei}  Upside:
01[09:23] {@Threei}  -GBSN +39% (received FDA 510(k) clearance for Group B Strep Molecular Diagnostic test)
01[09:23] {@Threei}  -ONVO +20% (disclosed entry into multi-year research collaboration agreement with Merck Sharp & Dohme Corp)
01[09:23] {@Threei}  -ANGI +14% (earnings)
01[09:23] {@Threei}  -CAMP +13% (earnings)
01[09:23] {@Threei}  -ASML 13% (won award for minimum 15 ASML EUV lithography systems from US company)
01[09:23] {@Threei}  -DLB +4% (earnings)
01[09:23] {@Threei}  -SALT +3.8% (announced agreement to sell seven new buildings for $290M)
01[09:23] {@Threei}  -YUM +3.5% (earnings)
01[09:23] {@Threei}  -VLTC +3.5% (momentum)
01[09:23] {@Threei}  -VALE +2.7% (Q1 iron ore production)
01[09:23] {@Threei}  -AEC +16% (Brookfield bids $28.75/shr)
01[09:23] {@Threei}  Downside:
01[09:23] {@Threei}  -CMG -5.5% (earnings)
01[09:23] {@Threei}  -TRN -5% (DoJ reportedly conducting criminal investigation into highway guardrail system linked to eight deaths)
01[09:23] {@Threei}  -URI -4% (earnings)
01[09:23] {@Threei}  -CREE -3.5% (earnings)
01[09:23] {@Threei}  -SMCI -2.3% (earnings)
[09:25] {jfjf64} Gn all
01[09:26] {@Threei}  jf :)
[09:26] {jfjf64} Gm
01[09:26] {@Threei}  I hope it was m, not n
[09:30] {jfjf64} Mcd
01[09:32] {@Threei} Long Setup:  FB  .20 break
01[09:32] {@Threei}  If holds  .10
[09:32] {jfjf64} Yum 84 .20 break
01[09:32] {@Threei}  1:1
[09:32] {drewj} totally missed that one
01[09:33] {@Threei}  yeah, very fast
01[09:34] {@Threei}  valid again
[09:34] {jfjf64} In
01[09:34] {@Threei}  heavy this time
01[09:35] {@Threei}  nope
[09:35] {drewj} spy dropping
01[09:36] {@Threei} Long Setup:  MCD  .50 break
01[09:36] {@Threei}  If holds  .40
[09:36] {dino} damn, uri took off w/o me
01[09:36] {@Threei}  change to .45
[09:37] {jfjf64} Was watchin dino
01[09:37] {@Threei}  If holds  .35
01[09:37] {@Threei}  1:1
[09:37] {drewj} damn
01[09:37] {@Threei}  1:3
[09:37] {drewj} missed that too
[09:37] {jfjf64} Go mikey
[09:38] {jfjf64} Stj overbought
[09:39] {jfjf64} Break 73 s
01[09:39] {@Threei}  you got MVD jf?
01[09:39] {@Threei}  MCD
[09:39] {jfjf64} Yes
[09:39] {jfjf64} Ty
01[09:39] {@Threei}  get out
01[09:39] {@Threei}  1:6
01[09:40] {@Threei}  1:7
01[09:40] {@Threei}  1:8
01[09:40] {@Threei}  lol
[09:40] {jfjf64} You deserve a happy meal
[09:40] {drewj} man
[09:40] {jfjf64} Me happy
[09:40] {jfjf64} Ty
01[09:40] {@Threei}  1:9
01[09:40] {@Threei}  yw
01[09:40] {@Threei} Long Setup:  FB  94 break
01[09:40] {@Threei}  84
01[09:40] {@Threei}  If holds  .90
[09:42] {dino} uri hl l .50
[09:42] {jfjf64} Took half off
[09:42] {jfjf64} Fb
[09:42] {jfjf64} .08
[09:42] {dino} no go, stop -.33
01[09:42] {@Threei}  good idea
[09:42] {drewj} gpt that one.
[09:43] {drewj} thanks
[09:43] {jfjf64} No like long candles
[09:43] {drewj} bummed about mcd
01[09:43] {@Threei}  yes, fast spike into 1 cent to 1:1
[09:43] {drewj} and i really like their food!
[09:43] {jfjf64} To many them last 2 days
[09:44] {dino} nemo would've slapped me for not waiting until 9:45 on uri
[09:44] {jfjf64} Yes dino
[09:44] {jfjf64} Dino how bout my vltc
[09:45] {jfjf64} 19 yesterday
[09:48] {jfjf64} Cree.15 short
[09:49] {jfjf64} Naa
[09:49] {dino} didn't vltc miss?
01[09:49] {@Threei} Long Setup:  TWTR  .90 break
01[09:49] {@Threei}  If holds  .80
01[09:49] {@Threei}  held well through SPY drop
[09:49] {jfjf64} Miss what
[09:50] {dino} oh, the ican stock. don't know jf
[09:50] {drewj} in
[09:50] {dino} you still in it?
[09:50] {jfjf64} No
[09:50] {jfjf64} Here is buy
[09:50] {jfjf64} 21.75 target today
01[09:51] {@Threei}  grrr
01[09:52] {@Threei}  rince
01[09:52] {@Threei}  s
[09:52] {jfjf64} Yep
01[09:52] {@Threei} Short Setup: MCD  98 break
01[09:52] {@Threei}  late
01[09:52] {@Threei}  in on bounce
[09:52] {dino} cray drop
01[09:52] {@Threei}  1:1
[09:52] {jfjf64} Stj
[09:53] {jfjf64} In .
[09:53] {jfjf64} .80
[09:54] {dino} uri hl l .14 ave
[09:54] {jfjf64} No go stj
[09:54] {jfjf64} Got to slow down
[09:56] {dino} stocks are gappy/jumpy today
[09:56] {jfjf64} Basted twtr
[09:57] {jfjf64} Noc
[09:57] {jfjf64} Stj basterd
[09:58] {jfjf64} Boy mikey d
[09:58] {dino} mktx sm l .40 gappy
[09:59] {jfjf64} In noc
[09:59] {jfjf64} .15
[09:59] {jfjf64} Small
01[09:59] {@Threei}  weird morning
01[10:00] {@Threei}  *(US) MAR EXISTING HOME SALES: 5.19M V 5.03ME
[10:00] {jfjf64} Has
[10:02] {jfjf64} Like short here mcd
[10:02] {jfjf64} 99 stop
[10:03] {dino} uri stopped again
[10:03] {jfjf64} Naa
[10:04] {jfjf64} 100 today mcd
01[10:05] {@Threei} Long Setup:  FCX  .45 break
01[10:05] {@Threei}  If holds  .40
01[10:08] {@Threei}  change to .40 break
01[10:08] {@Threei}  If holds  .35
[10:08] {jfjf64} Yum .25 long
[10:10] {cosmo} Gee...did MCD just announce their new vegan burger?
01[10:10] {@Threei}  lol
[10:10] {jfjf64} Yum valid
[10:10] {cosmo} gluten free?
01[10:13] {@Threei}  change to .35
[10:13] {drewj} fcx?
[10:13] {jfjf64} Yes
[10:16] {jfjf64} Pkg s .60
[10:18] {jfjf64} Out 1:5
[10:18] {drewj} nice
01[10:18] {@Threei}  wtg
[10:18] {jfjf64} Wrath yum boys
[10:19] {jfjf64} Gonna go
[10:20] {drewj} fcx still valid?
01[10:21] {@Threei}  yes
01[10:22] {@Threei}  stop .28
01[10:28] {@Threei}  1:1
01[10:35] {@Threei}  1:2
[10:36] {dino} added ua calls
[10:39] {drewj} which ones
[10:40] {dino} uri hl l .75
[10:41] {dino} jul 85
[10:43] {dino} out mktx .00, +.60
[10:44] {dino} out ua .05, +.30
[10:44] {jfjf64} Go dino
[10:44] {dino} ty, finally in the black
[10:45] {jfjf64} Out yum 1:5
[10:45] {dino} wtg
[10:45] {jfjf64} Dfs bounce watch
[10:46] {jfjf64} Yum monster today
[10:48] {jfjf64} In dfs
[10:48] {jfjf64} .80 ish
[10:48] {jfjf64} 1:1
[10:49] {jfjf64} Big candle
01[10:50] {@Threei}  1:3
01[10:50] {@Threei}  out
[10:50] {jfjf64} Nice
01[10:51] {@Threei}  slower trade, easy to manage
01[10:51] {@Threei}  pleasant change from opening hectic p[lays
[10:52] {jfjf64} Vxx looks part
[10:52] {jfjf64} But hasn't been frien lately
[10:53] {jfjf64} Out dfs
[10:54] {dino} uri hl l .61
[10:55] {jfjf64} Guess 50 break
[10:55] {jfjf64} Vxx
[10:55] {jfjf64} ?
[10:55] {jfjf64} If gets there
01[10:55] {@Threei}  I doubt it
[10:57] {jfjf64} Yum yum
[10:57] {jfjf64} Almost dollar from my entry
[10:57] {dino} out uri .06, +.45
01[10:57] {@Threei}  wtg
[10:57] {jfjf64} Nice dino
01[10:58] {@Threei}  wow FCX
[10:58] {dino} ty, channelling
[10:58] {dino} .60-.10
01[10:58] {@Threei}  good thing we persisted in finding reversal
[10:58] {jfjf64} Yes
[10:58] {dino} kicking myself over mktx, left a dollar on table
[10:59] {dino} gj jf
[11:00] {jfjf64} At my goal already
[11:00] {dino} nice
[11:00] {jfjf64} What to do
[11:01] {dino} if i may ask, whats your daily goal jf
[11:01] {jfjf64} Drink lunch
[11:01] {jfjf64} 75 cents to 1
[11:01] {dino} on 1k?
[11:01] {jfjf64} Try
[11:02] {jfjf64} 1k most
[11:02] {dino} gj
[11:02] {jfjf64} Feel more comfortable at 500 shares
[11:02] {jfjf64} Then feels like game
[11:02] {jfjf64} No stress
[11:03] {jfjf64} You like that
[11:03] {dino} completely understand
[11:03] {jfjf64} What ya goal these days
[11:03] {dino} running 500s mostly last couple months, occasionally 1,000. thinnies 400
[11:04] {dino} $600/day
[11:04] {dino} not counting options
[11:06] {drewj} how long did it take you guys to get to that level?
[11:06] {dino} too long
[11:07] {jfjf64} Still getting there drew
[11:07] {jfjf64} Go slow my advise
[11:07] {jfjf64} Singles
[11:07] {drewj} it's been two years for me and i'm still playing with 200 shares
[11:07] {jfjf64} Even bunts
[11:07] {dino} for me, its an average, some days better some days worse. goal is average. then add options to "bonus" it
[11:08] {drewj} I get it conceptually now
[11:08] {drewj} my stress level gets really high trading with real money (of course)
[11:08] {drewj} but it makes it a lot harder for me to see what is really going on.
[11:08] {drewj} that's my actual goal right now
[11:09] {drewj} to use small shares and work on reducing stress so I can think clearly
[11:09] {dino} take it slow drew. when comfortable go to 300. about 4 years ago i was at 300s. then 400s for last few years. just starting the 500s now and i've been in this room about 8 years
[11:09] {dino} but everybody is different
[11:10] {drewj} I was not prepared for the painstaking effort of this job
[11:10] {jfjf64} Be positive everday
[11:10] {dino} if it was easy, everybody would do it. once you "get it" it gets easier.
[11:11] {dino} it will become sort of a flow. you will "see" things
[11:11] {dino} and oddly enough, dream them
[11:11] {jfjf64} But once you think you got it BAM mkt kicks ya ass
[11:11] {jfjf64} Right dino
[11:12] {dino} jf, indeed. market humbles everybody
[11:12] {drewj} I know I have the same problems as everyone else but the days I lose really bother me for a while...all night into the next day
[11:12] {jfjf64} Yes look vg
[11:12] {jfjf64} Lol
[11:13] {jfjf64} Ofcourse
[11:13] {drewj} I can't let it go
01[11:13] {@Threei}  why? do you expect to win every day?
[11:13] {jfjf64} No good
01[11:13] {@Threei}  or think it's even possible?
[11:13] {jfjf64} Can't happen
[11:13] {dino} if you take losses properly, they should not bother you. shit happens. its a probability game
[11:13] {drewj} I could spend $200 on anything but if I lose $200 I really effects me in a negative way
01[11:13] {@Threei}  in history there was no single trader that didn't have losses
[11:14] {dino} get over that drew
01[11:14] {@Threei}  it's impossible even in theory
[11:14] {jfjf64} Take 4 looses 6 wins make money
01[11:14] {@Threei}  why do you expect yourself to deny the laws of nature?
[11:14] {drewj} I don't expect to win all the time but the losses make me nuts
01[11:14] {@Threei}  wait
[11:14] {drewj} ok
01[11:14] {@Threei}  there is direct connection between the two
[11:14] {jfjf64} Take ya stop be happy
[11:14] {dino} ex: i started 0 for 2 today, now i'm 3 wins/2 losses, up $280
[11:14] {jfjf64} Ty stop
01[11:15] {@Threei}  if you don't exepct to win all the time, then you have to admit that losses are ntural and part of the game
[11:15] {jfjf64} So true vg
[11:15] {dino} just think probabilities and loses are then natural course of this business
01[11:15] {@Threei}  if so, then you have no more reason to get nuts over them than you would about night coming after day
01[11:15] {@Threei}  part of the nature
[11:16] {drewj} I'm just a crappy trader because I rarely have profit after commissions
[11:16] {dino} vad has a way with words
[11:16] {drewj} he does...that's why I stick around
01[11:16] {@Threei}  so, you work on becoming better trader
01[11:16] {@Threei}  instead of getting nuts
[11:16] {dino} drew, thats because of 200 share size. small size needs "pulp"
[11:17] {drewj} vad
[11:17] {drewj} 's stuff is based on 1000 shares
[11:17] {dino} i could not handle 1000 shares, so had to adapt my system to the smaller share trades
01[11:17] {@Threei}  you work your way up through that
[11:17] {drewj} through what?
[11:17] {drewj} shares?
01[11:17] {@Threei}  in no profession you start learning with "adult" size
01[11:18] {@Threei}  yes
01[11:18] {@Threei}  training wheels
[11:18] {dino} uri broke channel
[11:18] {drewj} yes but it's hard to keep losing without pulp
[11:18] {jfjf64} Twtr .35 short
[11:18] {drewj} I need a lot of 1:3's to stay in
[11:18] {jfjf64} Hold .45
01[11:19] {@Threei}  you are looking at it wrong, drew
[11:19] {drewj} ususally
01[11:19] {@Threei}  200 shares is training wheels size
01[11:19] {@Threei}  not money making size
01[11:19] {@Threei}  you use it to learn to control yoursaelf and to learn the proper techniques
[11:20] {dino} drew, vads system is the best to learn from. only other trader here that sees what i see is ron (he's on vacation). so learn to walk first. he taught me
[11:20] {drewj} it's tough to justify spending and spending...room, broker ext
01[11:20] {@Threei}  so make sure that you learn that fast, and start moving up as you do
[11:20] {drewj} just need to cover those costs for now until i get it
[11:20] {dino} imo, go to 300, whats the difference, $10?
01[11:20] {@Threei}  have you gone to college?
01[11:20] {@Threei}  university?
[11:21] {dino} uri hl l .20
[11:21] {drewj} still paying for it
01[11:21] {@Threei}  had you expected yourself to cover cost from day 1 wheile learning?
[11:21] {jfjf64} Support / resistance  traders best friend
01[11:21] {@Threei}  why do you expect it to be any different in trading?
01[11:21] {@Threei}  wrong expectations set a stage for disappointment
01[11:22] {@Threei}  now, see what happened over these two years you mentioned:
01[11:22] {@Threei}  instead of learning to tarde, you tried to make money
01[11:22] {@Threei}  having no proper skill and focusing on a wrong thing
01[11:22] {@Threei}  thus, two years went by, and you haven't really learned to trade right
01[11:23] {@Threei}  why?
01[11:23] {@Threei}  because you weren't learning,
01[11:23] {@Threei}  you tried to make money
01[11:23] {@Threei}  see what I mean?
[11:23] {jfjf64} I do
[11:23] {jfjf64} Ty sir
01[11:24] {@Threei}  you know how archers are trained?
[11:24] {dino} he's right drew. you need to learn, then the $$$$ comes
01[11:24] {@Threei}  they don't shoot at the traget at first
01[11:25] {@Threei}  they shoot at the wall
01[11:25] {@Threei}  why?
01[11:25] {@Threei}  to focus on proper technique of handing the bow, instead of trying to hit the traget
01[11:25] {@Threei}  only when they get it down, target makes an appearance
[11:26] {drewj} I guess I haven't known what my steps in the process are
[11:26] {dino} bunch of my friends blew up because they refused to learn. they just wanted $$$. when i started, had 8 guys in my town trading (that i knew of), now only i am left
[11:27] {dino} out uri .54, +.34
[11:27] {jfjf64} Nice
[11:28] {dino} ty
[11:28] {jfjf64} Out twtr flat
[11:28] {dino} 72% there
[11:28] {jfjf64} Ba short .85
[11:29] {jfjf64} 1:1
[11:30] {dino} ugh uri
[11:30] {drewj} took off dino
[11:31] {drewj} I really should have stayed on the room but paper traded
[11:31] {drewj} I'm going to do that now
01[11:31] {@Threei}  told you that a few times
01[11:32] {@Threei}  bit I must have Cassanrda syndrome... no one listens to me :)
[11:32] {drewj} I listen Vad
[11:33] {drewj} I just don't understand the first time...guess I'm slow like that
[11:33] {drewj} hearing dino talk about his friends actually puts things more clearly for me
[11:33] {dino} damn, uri popped a buck over my sell
[11:33] {drewj} I really want to learn and I am willing to spend the time...I just didn't understand the emotional part
[11:34] {dino} get rid of your emotions. this is business.
[11:34] {jfjf64} Watchin stj
[11:34] {dino} if x happens you do y. no emotions
[11:35] {jfjf64} Wish was in
[11:35] {drewj} people are very discouraging about this job too.  I can't really tell people what I'm doing
[11:35] {jfjf64} .15
01[11:35] {@Threei}  so don;t
[11:35] {jfjf64} Lol
01[11:35] {@Threei}  what's the need
[11:35] {jfjf64} Drew
[11:35] {drewj} I stopped
[11:35] {jfjf64} F.  K  people
01[11:35] {@Threei}  they know nothing about this profession, why would you be interested in their opinion
[11:36] {jfjf64} Who pays ya bills
[11:36] {jfjf64} Not people
[11:36] {drewj} unsolicited advice
01[11:36] {@Threei}  the difference between wise and the rest is, wise don't judge what they don't know
[11:36] {jfjf64} Nice vg
01[11:37] {@Threei}  I have zero idea what military pilot job involves - think you'll see me ever passing judgement on that job?
[11:37] {dino} drew. if they are not traders they claim it can't be done or that its not a real job, etc. f#ck them. they are just too chicken to take the leap or jealous
01[11:37] {@Threei}  how come people that never traded think they can talk about it with any kind of authority?
[11:37] {jfjf64} Jealous
[11:37] {drewj} right
01[11:38] {@Threei}  one of the funniest dialogs I've ever had about that:
01[11:38] {@Threei}  some kind of party, general conversation, this, that,
01[11:38] {@Threei}  one guy gets for some reason cross with me
01[11:38] {@Threei}  well, actually I know the reason,
01[11:39] {@Threei}  his girl got too interssted in talking to me, and he was insecure enough to get mad abou it
[11:39] {dino} one of they guys that i know who blew up, now claims that he could do better than i do at this. i asked why not go back into it and beat me? you know what he said? he doesn;t want to trade anymore (won't admit he's wrong).
01[11:39] {@Threei}  so, he asks what I do for a living
[11:39] {dino} it jealousy
01[11:39] {@Threei}  I say I trade the marjkets
01[11:39] {@Threei}  he sneers and says "it can't be done"
01[11:39] {@Threei}  I ask why he thinks so,
01[11:40] {@Threei}  his answer was priceless:
01[11:40] {@Threei}  a few years ago I tried to buy some stock and lost money
01[11:40] {@Threei}  I said:
01[11:40] {@Threei}  ah, I see where you are coming from, and agree with you,
01[11:40] {@Threei}  I had the same experience,
01[11:41] {@Threei}  I tried one to play piano, and nothing good came out of it,
01[11:41] {@Threei}  so now I hold firm opinon that it can't be done.
01[11:41] {@Threei}  after little pause he asked:\
01[11:42] {@Threei}  had you studoed piano?
01[11:42] {@Threei}  I said no
01[11:42] {@Threei}  he said, well, that's why!
01[11:42] {@Threei}  I said exactly
01[11:42] {@Threei}  at this point whole room was laughing
01[11:42] {@Threei}  he was slow on uptake :)
[11:43] {jfjf64} What an asshole
[11:43] {drewj} :)
01[11:43] {@Threei}  bit message was quite clear :)
01[11:43] {@Threei}  but
[11:43] {jfjf64} Bottom line his girl was diggin the vg man
01[11:43] {@Threei}  idiot tried to tarde once withut any learning, lost money... so now he thinks it can't be done
01[11:44] {@Threei}  she totally was
[11:44] {jfjf64} Lol
[11:44] {drewj} hahaha
01[11:44] {@Threei}  and he never thought that he would never expect the same in any other profession'
[11:44] {drewj} lady's man vad?
[11:44] {dino} last week i was on audit committee for our non-profit golf club. two ther guys on it are investment advisors for two local banks. they both start talking about funds. i say why not recommend stocks. they tell me that individual stocks are too risky. then they ask what i do, i say daytrade stocks, swing trade options. they both immediately say it cannot be done profittable over time. i say,
[11:44] {dino} funny, i've been trading full time for over 14 years now
01[11:44] {@Threei}  I don't kniw why people think of trading this way,
01[11:44] {@Threei}  no one would think of playing piano like this
[11:44] {jfjf64} Your story I missed ilmn short .40 break
[11:45] {jfjf64} You owe me
[11:45] {dino} i throw one back
[11:45] {jfjf64} K
[11:46] {drewj} good advice guys
[11:46] {dino} bottom line drew, don't worry what others think or say. just make your money and have fun doing it
01[11:46] {@Threei}  exactly
01[11:47] {@Threei}  you don't live to satisfy them
[11:47] {jfjf64} I been trading diff then I usually do and been workin
[11:47] {drewj} should I just paper trade for a few months and save my money?
[11:47] {drewj} those people just add to the stress.
[11:47] {jfjf64} R u married drew
[11:47] {drewj} yup
[11:47] {drewj} three kids too
[11:48] {jfjf64} Me 2
[11:48] {drewj} she's been really cool about this
[11:48] {jfjf64} 3 boys
[11:48] {drewj} nice
[11:48] {dino} married w/2 kids here
[11:48] {jfjf64} That's big
[11:48] {drewj} i know
[11:48] {jfjf64} Need her support
[11:48] {drewj} she
[11:48] {drewj} is from mexico and we would like to be able to live there eventually
[11:48] {drewj} and so she knows there is an end game to all this
[11:49] {jfjf64} Nice
[11:49] {drewj} i would love to have some nice profits to show her though
[11:49] {dino} just ignore the naysayers, clear your head, and obey the rules. you will get it
[11:49] {jfjf64} Listen to vg
[11:50] {drewj} I hve been listening to him for a long time...
[11:50] {drewj} I'm surprised to hear that you think I don't Vad!
[11:51] {jfjf64} Trn .30 short
[11:51] {drewj} he's not listening to me:)
[11:51] {jfjf64} Hold .40
[11:53] {jfjf64} Invalid
[11:57] {jfjf64} Ntrs break .35
[11:59] {jfjf64} Hold.30
01[11:59] {@Threei}  US and European indices have seen choppy trading this morning as traders digest a torrent of major earnings
01[11:59] {@Threei}  March existing home sales bounced higher, improving on the flattish February numbers that had been impacted by the harsh winter weather. Sales of previously owned homes climbed to the highest level since September 2013, up 13.5% y/y and beating expectations.
01[11:59] {@Threei}  WTI crude had declined to $56 after spending most of the prior week in a $57-58.50 range in the wake of the last DoE inventory data. Last week's report saw the first miss in crude inventory build in some time, but this morning's DoE report and yesterday's API data saw a return to surprisingly large builds.
[12:01] {jfjf64} Trn short .25
[12:01] {jfjf64} Last trade of day
[12:04] {jfjf64} Follow mkt trn
[12:05] {jfjf64} 1:1
[12:07] {jfjf64} 1:2
[12:08] {jfjf64} Me done
[12:08] {jfjf64} See all manana
[12:10] {dino} great job
[12:10] {jfjf64} Ntrs rinsed me
[12:10] {jfjf64} Ty
[12:11] {dino} see drew, jf is a reason for the people that say it can't be done. they are pissed off he takes off work early. they are mad i vacation when i want. they are just jealous
[12:12] {dino} vsi spike
[12:19] {drewj} so they don't want me to succeed dino
[12:20] {dino} hate to say it, but yes.
01[12:21] {@Threei}  most of them don't
[12:22] {dino} my mother, to this day, wishes i had not sold my insurance business. she hates that i am a trader
01[12:22] {@Threei}  at least not in something they failed in, or never found guts to try
[12:22] {drewj} lousy
01[12:22] {@Threei}  your success is a constant reminder of their failure
[12:23] {drewj} wow
[12:23] {dino} relative no longer talks to me because i suceeded and he failed trading
01[12:23] {@Threei}  while your filure will be their justifiction
[12:23] {dino} and because of this, i no longer get invited to xmas, thanksgiving, etc
[12:24] {drewj} that makes a ton of sense
[12:25] {dino} somehow, in their eyes, it is my fault that he failed
[12:25] {drewj} damn
[12:26] {dino} so thats what i mean when i say ignore them, they are just jealous
[12:30] {drewj} that's sad dino
[12:30] {drewj} tough on you
[12:31] {dino} not anymore. better off without that type of thinking in my life
[12:31] {drewj} yes
[12:31] {dino} some people, just try to bring you down. don't allow it
[12:38] {drewj} vsi here dino?
[12:46] {dino} hang on
[12:46] {dino} buyout rumors
[12:47] {dino} carlson cap 5.34% stake, in talks
[12:47] {dino} so gut says stay away
[12:48] {drewj} Do you short on more vertical spikes?
[12:49] {dino} yes
[12:50] {dino} but news on this one cautions me. usually they spike when company says they hired investment bank to explore alternatives, then they drop. this one has an actual company taking a stake and talking buyout
[12:50] {dino} otherwise i'd short it
[12:52] {drewj} where did you learn the in's and out's of news?
[12:53] {dino} years of trading
[12:54] {dino} but a lot of it is common sense
[12:57] {drewj} what is your stop rule dino?
[12:59] {dino} depends on size. 300 sh usually .40; 400 sh .33-.35; 500 sh .26-.30, 1k sh .15. these can change depending on the spread (a lot of my trades are .20-.50 wide on spreads, so...), but in no case do i risk more than $250/trade.
[13:00] {dino} you must understand that on my trades, the stocks have great move potential. 500 shares and lower i will not trade it is it cannot move at least 30 cents in limited time
[13:01] {drewj} thank you
[13:01] {dino} will not trade it, if it cannot
[13:01] {drewj} i see the pulp
[13:01] {dino} yes, my system is based on pulp
[13:01] {dino} fast drops/fast spikes, ideally more than $2 in seconds
[13:03] {dino} i end up sitting doing nothing for a good part of the day. just waiting for the right drop/spike
[13:03] {drewj} it seems to be that way with most systems
01[13:04] {@Threei}  most GOOD systems
[13:04] {dino} jf is quite a busy trader
[13:04] {drewj} i noticed
[13:04] {dino} the more i trade the less i make
[13:04] {drewj} he seems to try and use your style vad
01[13:06] {@Threei}  jf? he does a mix of my and dino's styles
[13:07] {dino} some traders feel like they have to always be trading. don't fall into that trap
01[13:08] {@Threei}  "false work ethics"
[13:09] {drewj} i really like that...
[13:09] {drewj} is that taoist?
01[13:09] {@Threei}  nah, common sense
01[13:09] {@Threei}  see,
01[13:09] {@Threei}  we are brpought up on idea that work is rewarded
01[13:09] {@Threei}  and in order to get rewarded you need to work
01[13:10] {@Threei}  This is not exactly the case with trading,
01[13:10] {@Threei}  in trading it's quality of what you do that gets you the prize, not the quantity of work
01[13:11] {@Threei}  so, here is a conflict between the conditioning "you need to wqork every minute of your working day"
01[13:11] {@Threei}  and reality of trading where you need to wait for the right opportunity
01[13:11] {@Threei}  so, you sit and wait
[13:13] {drewj} the quality of what i do
[13:13] {drewj} that has a much different focus
01[13:14] {@Threei}  it's all a common sense, it's just that common sense isn't :)
[13:14] {dino} reverse your thinking
[13:15] {drewj} common sense is work long and hard doing a lot of things
01[13:15] {@Threei}  that uis true for a JOB
01[13:15] {@Threei}  but trading is not a job
01[13:15] {@Threei}  trading is business
01[13:15] {@Threei}  in business it's smart work that gets rewarded
[13:16] {dino} i'd say 3 hours a day, i'm just sitting
01[13:16] {@Threei}  ok, here is analogy I just thought of
01[13:16] {@Threei}  that will help you place it right
01[13:17] {@Threei}  imagine you are a hunter sitting in a hide, waiting for your fowl to come to the line of fire
01[13:17] {@Threei}  will you sit and wait and fire only when you see it and get a clear shot in ordwer to succeed
01[13:17] {@Threei}  or will you shoot while there is nothing to shoot at, just to justify your sitting there?
[13:17] {drewj} of course
[13:18] {drewj} that's a good analogy
01[13:18] {@Threei}  :)
[13:19] {drewj} just printing out a picture of a hunter in a tree stand to help me remember
[13:20] {dino} now drew, i could pull 200 out of the ua calls right now and get over my daily, but the calls are bonus, i try to get at least 500 out of them, so swinging
[13:21] {drewj} you think they will be up tomorrow?
[13:22] {dino} tomorrow doesn't matter, i bought time. i have gtc on them for 1.00 move. will re-evaluate each day
[13:23] {dino} shoot for $3k/month options
[13:23] {drewj} I know I already said this but it is so hard to just sit here:)  I should be doing somethingf
[13:24] {dino} really just an extension of my capit system. ua good earnings got hit
[13:24] {drewj} earnings hits tend to rebound?
[13:25] {dino} good earnings that get hit usually start coming back in 2 or 3 days
[13:25] {dino} keep your eyes on ua, uri, mktx. all decent earnings that got hit
[13:26] {dino} oii spikey, somebody knows tonigts earnings perhaps
01[13:28] {@Threei}  drew you need to do something?
01[13:28] {@Threei}  work on your stress control
01[13:28] {@Threei}  practice 3-7-8 breating
01[13:28] {@Threei}  breathing
[13:28] {drewj} I told  you that was the hardest thing for me
01[13:28] {@Threei}  4-7-8, sorry
01[13:29] {@Threei}  you did, so I come up with suggestion
[13:29] {drewj} remember I moved from LA to a small town in PA
[13:30] {dino} did you read vads' techniques of tape reading yet? also, for insight, read reminiscences of a stock operator. ttr book good basic trading book. the other is a fun read with valuable insight (kills me that buffet tries to take credit for jesse's "blood in the streets" quote)
[13:30] {dino} drew, small town pa me too
[13:31] {drewj} i've got both of those.
01[13:31] {@Threei}  got or read?
[13:31] {dino} vads ttr capitulation/euphoria in that book is what got me to my edge
[13:32] {drewj} it's been a big change of work style...being busy to sitting a lot
[13:32] {drewj} read ttr and listened to other
01[13:32] {@Threei}  so... get busy. 4-7-8, learn it and do it regularly
[13:32] {drewj} what do you mean
01[13:32] {@Threei}  then get back to Taoist Trader, m,editation techniques at the end of the book
01[13:33] {@Threei}  [13:28] {@Threei} practice 47-8 breathng
01[13:33] {@Threei}  4-7-8
[13:33] {dino} same here drew. my isurance office would have 120 calls/day. now trading phone never rings, lots of down time. learn to adjust and you will enjoy it. i do a 45 minute lift each day while trading and usually take an hour off each day
01[13:33] {@Threei}  it helps with stress immensely
[13:33] {drewj} what's the 4--7-8 thing?
01[13:34] {@Threei}  gosh... man, you heard of google, didn't you?? :)
01[13:34] {@Threei}  it'll get you to the according page in one click
[13:34] {drewj} got it
01[13:34] {@Threei}  in 5 min you'll know how to do it
01[13:35] {@Threei}  then learn to do it, and do it religiously
01[13:35] {@Threei}  you won't believe how helpful it is
01[13:35] {@Threei}  simp[le thing, takes no time
01[13:35] {@Threei}  requirs no money
[13:36] {dino} ocr drop
[13:37] {dino} ocr sm l .70
[13:40] {dino} not luving ocr chart
[13:41] {dino} stopped .54 -.16
[13:41] {dino} pivot magnot at 80
[13:41] {dino} damn rinsed
01[13:44] {@Threei}  frikin TWTR
01[13:44] {@Threei}  got away
01[13:45] {@Threei}  I didn't believe in such breaks during lunch time
01[13:45] {@Threei}  but .65 was obviously worth it
[13:45] {jfjf64} Anything going on vg
[13:46] {jfjf64} Twtr
01[13:46] {@Threei}  yeah
01[13:46] {@Threei}  we had a lot more discussion while you were away jf, read the log later
01[13:47] {@Threei}  I think you'll find interesting things
[13:47] {jfjf64} Was here for lot of them there was more
01[13:47] {@Threei}  yes
01[13:50] {@Threei}  jf changed his skin
06[13:50] * @Threei slaps mib_43iu38 around a bit with a jfjf64 nickname
01[14:09] {@Threei} Long Setup:  TWTR  .90 break
01[14:09] {@Threei}  If holds  .80
01[14:17] {@Threei}  change to .85
01[14:35] {@Threei}  1:1
01[14:49] {@Threei}  almost 1:2
01[14:49] {@Threei}  on the next push probably
[14:50] {jfjf64} What ya in vg
[14:51] {jfjf64} VMware .50 break
01[14:51] {@Threei}  TWTR jf
01[14:51] {@Threei}  from .85
[14:51] {jfjf64} K
[14:52] {jfjf64} 1:2
[14:52] {jfjf64} 1:3
[14:52] {jfjf64} 1:4
[14:52] {jfjf64} Out
[14:53] {drewj} gj jf!
[14:53] {dino} gj
01[14:53] {@Threei}  nice
[14:53] {jfjf64} Dif style for me wking
[14:53] {jfjf64} Usually looking to short
[14:55] {jfjf64} cp .55 break
[14:55] {jfjf64} Let's see
01[14:56] {@Threei} Long Setup:  VXX  .35 break
01[14:57] {@Threei}  If holds  .25
[14:57] {jfjf64} 1:3
[14:57] {jfjf64} 1:4
[14:57] {jfjf64} Out
06[14:57] * @Threei slaps jfjf64 around a bit with a large roll of cash
[14:57] {jfjf64} Look this cp
[14:59] {jfjf64} They r hitting my scanner
[15:00] {jfjf64} Dollar up from entry
[15:02] {jfjf64} ypf hit scanner 30.25
[15:02] {jfjf64} Look at this
[15:03] {jfjf64} See drew just when I think I know what I'm doing Bam
[15:04] {jfjf64} Respect mkt
[15:04] {jfjf64} Tso 80.20 lets watch
[15:05] {drewj} Sorry buddy
[15:05] {jfjf64} Why sorry
[15:06] {jfjf64} Cp still going
[15:06] {drewj} maybe i misunderstood
[15:07] {jfjf64} I'm saying confidence is good
[15:07] {jfjf64} Always respect
[15:08] {jfjf64} I'm having my best day in while
[15:09] {drewj} got a headache
[15:09] {jfjf64} Time for Long Island ice tea drew
[15:10] {drewj} i'm going now!  That's all I have for todayguys
[15:10] {drewj} take care and thanks for the insight
01[15:12] {@Threei}  take car4e drew
[15:15] {jfjf64} Was thinkin short ocr I messed up
[15:15] {jfjf64} Nice pullback though
[15:19] {jfjf64} Vmw .90 break
[15:20] {jfjf64} 1:2
[15:20] {jfjf64} Pinch me alice
[15:22] {jfjf64} Spy hod
[15:23] {jfjf64} Ocr 84 break
[15:24] {jfjf64} Wow spy
[15:25] {jfjf64} Out
[15:25] {jfjf64} Wow
[15:25] {jfjf64} Ocr
[15:26] {jfjf64} Didn't sell me halted?
01[15:28] {@Threei}  yes
01[15:28] {@Threei}  circuit breaker
01[15:28] {@Threei}  5 min
01[15:28] {@Threei}  [OCR] Said to be considering a sale of the company and has hired advisors to help in the evaluation
01[15:29] {@Threei}  you have order in?
[15:29] {jfjf64} Hit to sell mkt didnt
01[15:30] {@Threei}  should be a good one, stay ready
01[15:30] {@Threei}  here
01[15:30] {@Threei}  out?
[15:30] {jfjf64} Y
01[15:30] {@Threei}  congrats
[15:30] {jfjf64} Holy cow
[15:33] {dino} should spike more and drop
[15:33] {dino} myl drop
[15:34] {dino} ocr smr s .05
[15:34] {dino} cov ocr 84.985, +1.20
[15:35] {dino} 84.85
[15:35] {jfjf64} Nice
01[15:35] {@Threei}  wtg
[15:35] {dino} ty
[15:35] {dino} now whers drew?
01[15:36] {@Threei}  he'll read the log
[15:36] {dino} thats exactly what we talked about earlier
[15:37] {jfjf64} 84 break what acall
[15:37] {jfjf64} 5 min before
[15:41] {jfjf64} Tso .55 break
[15:42] {jfjf64} Was late sad of been .50
[15:42] {jfjf64} .49 stop
01[15:43] {@Threei}  ok guys, finishing on this, nice day
01[15:44] {@Threei}  have a good evening
01[15:44] {@Threei}  see you tomorrow!
[15:44] {jfjf64} Ty
[15:45] {jfjf64} 1:1
[15:45] {jfjf64} 1:2
[15:46] {dino} cya
[15:46] {jfjf64} Out
[15:47] {jfjf64} Gn all
[15:47] {jfjf64} Ty trading gods