Thursday, January 19, 2012

Jan 19 2012

(Course on chart pattern recognition is available now:  )

First hours went in exchanging jabs with market - win one, lose one. Then 4 wins in a row put us firmly on a winning side. While still slow, useable activity extended beyond first hour today.

Session Time: Thu Jan 19 00:00:00 2012
[08:55] {_quotesmart} gm - anyone get this post? just checking mIRC to see if working.
[08:55] {Threei}  morning
[08:55] {Threei}  it does
[08:55] {_quotesmart} great - thanks
[09:02] {dino} gm
[09:03] {Threei}  dino :)
[09:10] {swill} morning. glad i'm not driving today
[09:10] {Threei}  morning swill, was just thinking how you made out yesterday
[09:11] {Threei}  per reports, it was skating rink
[09:11] {swill} i sort of slid my way through it
[09:11] {dino} had a cold 2 mile walk this morning, 4 degrees f
[09:11] {Threei}  yikes
[09:16] {Threei}  Rick Perry to drop bid for US Republican presidential nomination on Thursday
[09:16] {RonS} today but flying to ca this evening and hi tomorrow to visit brother, nephew, and daughter's back 1/30
[09:17] {Threei}  Ron :)
[09:17] {dino} have fun ron
[09:18] {JK13} good morning
[09:18] {stewy} gd morning all
[09:18] {Threei}  jk :)
[09:18] {Threei}  stewy :)
[09:19] {RonS} lol...** ALERT ** Rick Perry drops out of GOP race, will focus on his role in The Expendables 2
[09:19] {Threei}  lol
[09:19] {rambler} goodmorning....
[09:19] {Threei}  rambler :)
[09:21] {Threei}  FCX couldn't wait for us above .50, could it...
[09:22] {Beau} good morning you all
[09:23] {Threei}  beau :)
[09:25] {Threei}  so far, thinjking FCX short into bounce, most of others are long
[09:26] {Threei}  if FCX drops sharply on the open, will look to scalp the bounce on a long side
[09:27] {ese} gm
[09:27] {Threei}  ese :)
[09:30] {Threei} Short Setup: FCX  .50 break
[09:30] {Threei}  haklf lot of course
[09:30] {Threei}  stop above .65
[09:30] {Threei}  target 1:2
[09:30] {Threei}  1:1
[09:31] {Threei}  half out
[09:31] {Threei}  stop .56
[09:31] {Threei}  out in full
[09:31] {Threei}  can I go home?
[09:31] {Threei}  wow, too soon
[09:31] {rambler} way to fast for me...
[09:31] {stewy} pleasure to watch, toofast
[09:32] {dino} cov fcx +.25 ty vad
[09:32] {Threei} Long Setup:  LVS  .30 break
[09:32] {Threei}  stop under .20
[09:32] {Threei}  welcome dino
[09:33] {Threei}  no go
[09:33] {Threei}  most likely rinse but let's wait it out
[09:34] {Threei} Long Setup:  SLW  .45 break
[09:34] {Threei}  if stays above .35
[09:35] {Threei}  wow SJT
[09:35] {Threei}  look at daily
[09:35] {Threei}  SLW invalidated
[09:37] {Threei} Long Setup:  HGT  .05 break half lot
[09:38] {Threei}  if stays above 14
[09:38] {cipher} cat l .33
[09:39] {cipher} out 1/2 .49 +.16
[09:39] {Threei}  gj
[09:39] {dino} gj
[09:39] {cipher} ty
[09:40] {JohnH} there's a lot of stock (HGT) on the ask at 14.05
[09:40] {Beau} thanks Vad +16
[09:40] {Threei}  that's what makes the setup lucrative
[09:41] {dino} if 41k goes it should go up
[09:41] {Threei}  think of it as a dam break
[09:41] {Threei}  on what Beau?
[09:41] {dino} "be water"
[09:41] {Threei}  hehe
[09:41] {cipher} i don't see the 05 level
[09:42] {cipher} 04 then 07
[09:42] {Threei}  it's there, hidden behind NYSE .04 offer
[09:42] {cipher} k
[09:42] {Threei}  you'll see it when .04 is taken
[09:42] {dino} periodically it shows
[09:42] {Threei}  there
[09:42] {Threei}  see?
[09:42] {cipher} got it
[09:43] {cipher} watching too many things...
[09:43] {Threei}  sacrifice porn...
[09:43] {Beau} lvs
[09:43] {dino} lol
[09:43] {Threei}  got it
[09:43] {cipher} out rest cat .70 +.37
[09:43] {dino} gj
[09:43] {Threei}  wtg
[09:43] {cipher} thx
[09:44] {Threei}  HGT becomes two-sided setup
[09:44] {Threei} Short Setup: HGT  14 break if stays under .05
[09:45] {Threei}  111 Trades course readers will identify it as DBI, trigger or fade
[09:48] {cipher} ibm l .01
[09:48] {RonS} dino dish pulpy...
[09:48] {cipher} out 1/2 .21
[09:48] {dino} ty
[09:48] {Threei} Long Setup:  FCX  .70 break
[09:49] {Threei}  stop under .60
[09:49] {dino} r2 rejected it
[09:49] {Threei}  target .95
[09:49] {dino} r3 30.27 dish
[09:51] {cipher} ibm stopped rest b/e
[09:52] {Threei}  good management
[09:52] {ese} vad ...would CSIQ have fit your 2 day high pattern
[09:52] {dino} fcx stop\
[09:52] {Threei}  no go FCX
[09:53] {Threei}  at .55 it would ese
[09:55] {ese} tks
[09:55] {JohnH} HGT still valid but putting me to sleep
[09:55] {Threei}  true
[09:55] {Threei} Short Setup: NWE  .90 break
[09:56] {Threei}  ese, that's your 2-days break reak time
[09:56] {Threei}  real
[09:56] {Threei}  too fast?
[09:57] {JohnH} couldn't catch it, no volume (NWE)
[09:57] {Threei}  yeah, no chasing
[09:59] {Threei} Short Setup: BP  .70 break
[09:59] {Threei}  stop above .75
[09:59] {Threei}  very tight
[10:00] {Threei}  *(US) JAN PHILADELPHIA FED: 7.3 V 10.3E
[10:00] {ese} don't getcha.....real fast?
[10:01] {Threei}  anyone got HGT?
[10:02] {Threei}  BP, .65 break should make it wortwhile
[10:02] {Threei}  half out BP .61
[10:03] {Threei}  scalpers get out in full
[10:03] {Threei}  stop to .71
[10:03] {dino} dish sm s .79
[10:05] {Threei}  stop to .66
[10:07] {Threei} Long Setup:  TZA  .60 break
[10:07] {Threei}  half lot
[10:08] {Threei}  stop under .50
[10:09] {Threei}  don'e with BP
[10:10] {dino} dish to flat
[10:10] {dino} out
[10:11] {RonS} still in dish s .78
[10:12] {Threei}  no go TZA
[10:12] {Threei}  exchanging jabs
[10:15] {Threei} Long Setup:  LVS  .10 break
[10:15] {Threei}  if stays above 47
[10:15] {dino} nav drop, gap around 40.30
[10:18] {JohnH} what about LVS as a DBI?
[10:19] {dino} hban l .84 stop lod
[10:19] {RonS} out dish +.04...flat really...
[10:19] {Threei}  not sure about that... could become one if mrket drops sharply
[10:20] {JohnH} either way, the spring is tensioning
[10:21] {dino} nav gap fill
[10:21] {Threei}  yeah, LVS is not the one to stay in narrow range for too long
[10:23] {dino} wtf nav
[10:24] {RonS} no news...
[10:24] {Threei}  NAV Update: Hearing Cleveland Reseach makes cautious comments
[10:24] {Threei}  1 min ago
[10:25] {RonS} lol  cleveland research?
[10:25] {dino} thx
[10:25] {JohnH} off topic: UXG has been going straight up
[10:26] {JohnH} into merger vote=FSN?
[10:26] {dino} in competition w/dino research
[10:26] {JohnH} will sell off once announced?
[10:26] {Threei}  would you prefer Griffin Research, ron?? :)
[10:26] {JohnH} FSN= "fleece sheep news"
[10:27] {Threei}  UXG is the one being taken over?
[10:27] {Threei}  or it buys someone?
[10:27] {JohnH} merger of equals
[10:27] {JohnH} meeting/decision is today
[10:28] {Threei}  yeah, very much looks like the scenario for after-news selloff
[10:28] {Threei}  just keep in mind that this scenario sometimes starts with short-lived spike
[10:28] {JohnH} right
[10:29] {JohnH} wow LVS
[10:29] {dino} nav sm l .00 pulpy
[10:30] {dino} ash sm l .00
[10:34] {cipher} what's wvap on nav?
[10:36] {dino} 40.40
[10:36] {cipher} thanks
[10:40] {Threei} Long Setup:  BAX  .27
[10:40] {Threei}  if stays above .20
[10:46] {Threei}  SPY has this look of "let the slow climb begin"
[10:47] {rambler} you in BAX Vad...?
[10:47] {Threei}  yes
[10:47] {dino}  trow
[10:51] {Threei}  out
[10:52] {rambler} defying gravity....
[10:53] {dino} sm l zoll .20 gappy
[10:53] {JohnH} LVS must be waiting for some news?
[10:54] {rambler} looks like its waiting for something.....
[10:55] {Threei}  very unusual flatline for it
[10:56] {Threei}  if WYNN breaks 118, LVS should get a push from it
[11:03] {RonS} hearing zoll reports ah...
[11:05] {dino} got booted
[11:05] {Threei}  I don't see it in calendar
[11:05] {dino} out ash .40, +.40
[11:05] {Threei}  nice
[11:05] {Threei}  LVS was fun
[11:06] {Threei}  anyone got it?
[11:06] {rambler} no..
[11:06] {Threei}  shoulfd be good for round 2
[11:06] {stewy} so only aggressive entries got it, no?
[11:06] {JohnH} nope, I was looking elsewhere when it triggered
[11:06] {Threei}  .12 was obtainable, stewy
[11:07] {stewy} yep ok
[11:07] {swill} i got lvs. not enough though
[11:07] {dino} usna spike
[11:07] {Threei}  round 2 is on, and this time stop is .04
[11:08] {Threei}  offering half .19
[11:09] {RonS} usna  38% float short
[11:17] {RonS} natty sub 2.40
[11:17] {Threei}  UNG is a widowmaker
[11:20] {Threei}  half out LVS, stop to .09
[11:20] {dino} bku sm l .50
[11:21] {Threei}  want .20 break and spike for the second half
[11:21] {Threei}  out second half
[11:22] {stewy} nice catch dino
[11:22] {Threei}  this is very weird behavior
[11:22] {dino} ty
[11:22] {ese} hmmmmmmmmm got cut off
[11:23] {Threei}  ese... really time to switch to Shaw
[11:24] {ese} ya.......
[11:24] {ese} L LUV .28
[11:26] {Threei}  (GR) Ratings Agency DBRS, in review of EU ratings sees possibility of a Greece default, but not expecting such an occurence
[11:26] {Threei}  - Comments that the chances of Greece leaving the Eurozone are small even if there is a default
[11:26] {Threei}  *NOTE: DBRS ratings agency is holding a call reviewing its European sovereign ratings
[11:27] {Threei}  lol... they mean Greece hasn't defaulted yet?
[11:27] {ese} thats a wow
[11:27] {Threei}  if 75% haircut for bondholders isn't a default...
[11:28] {ese} well............when they come out of there Retziki  stupor.....they realise they've defaulted
[11:28] {Threei}  I guess we are witnessing some serious re-definitions of things
[11:28] {Threei}  first they redefined the term "voluntarily"
[11:29] {Threei}  to mean that if I say "obey or I will shoot you" and you obey - you do that voluntarily
[11:29] {ese} lol
[11:30] {Threei}  now they redefine the term default to mean that if I don't pay per obligations, it's not a default,
[11:30] {Threei}  default is when I say "OK, I default"
[11:30] {Threei}  and if I never do...
[11:30] {Threei}  (GR) Greece Central Bank: There is a risk for isolation economically and politically if reform efforts fail
[11:31] {Threei}  Greeks: oh yes, please!!
[11:32] {dino} greece should fully default and get out of euro
[11:33] {Threei}  well, it's a fine dance:
[11:33] {ese} come on now luv.....just luv me a little more
[11:33] {Threei}  Greece tries to get more money out of EU before doing that,
[11:33] {rambler} looking good ese....
[11:33] {ese} ya
[11:33] {Threei}  EU tries to squeeze more debt repayment out of Greece before ejecting it
[11:34] {Threei}  who wins? let's take bets
[11:34] {ese} stop to break even .28
[11:34] {ese} ya gotta luv this free money stuff
[11:34] {Threei}  yesss!
[11:34] {Threei}  on the snow in Victoria. It will be +7C on Saturday, take another look before it's gone!
[11:35] {Threei}  Victoria virtually shut down by 10 to 20 centimetres of snow
[11:35] {Threei}  for a winnipegers it sounds like a bad joke
[11:35] {Threei}  light winter day
[11:35] {ese} no kidding eh
[11:36] {Threei}  it takes 5 times that to shut down Winnipeg
[11:36] {ese} man...for the five years i lived there.......brutally cold....avg -30 and below for 3 and a 1/2 months all five years
[11:36] {Threei}
[11:37] {rambler} that's funny...
[11:38] {rambler} bunch of wimps...
[11:39] {RonS} noone has ice tires or chains there rambler...
[11:39] {Threei}  nor do we have serious snow=cleaning fleet
[11:39] {rambler} I know, I live just up the highway...
[11:39] {ese} not me man.........I was out and about gettin stuff done........safest day of the year for me......everyone else scared "you know what less"  and not on the road .......perfect for a kid from saskatchewan
[11:40] {dino} esi spike
[11:40] {Threei}  not me - I have healthy respect for idiots who think driving in the snow is the same, only road is white...
[11:41] {rambler} seems strange in this country for a little snow to cause such havoc......
[11:42] {Threei}  well, it's Victoria
[11:42] {Threei}  two days ago folks were making golf plans
[11:42] {cipher} esi not shortable
[11:43] {Threei}  and I am sure there were a lot of cabriolet roofs left open for the night it snowed :)
[11:43] {RonS} my brother on Kona said it was cold w/ temp 78F
[11:43] {rambler} making plans for Hawaii as we speak...
[11:43] {Threei}  lol
[11:43] {cipher} holy cow esi shoulda went long
[11:44] {JohnH} non sarcastic question: does Victoria feel as isolated as it looks on the map?
[11:44] {dino} apol follows
[11:44] {Threei}  depends
[11:45] {Threei}  when you just live your everyday's life, no, not at all
[11:45] {dino} dv too
[11:45] {Threei}  if you have some kind of emergency on mainland requiring your immedfiate presence, then probably yes
[11:45] {RonS} esi cannot short...shucks
[11:46] {JohnH} the opposite is true too
[11:46] {JohnH} NYC is small place when you "live just everyday life"
[11:47] {Threei}  also, as it's often the case with islands, there is a strong mindset of "draw the bridge, keep those mainlanders away"
[11:47] {RonS} jh...tourist trade in victoria healthy so it is not isolated at all imo
[11:48] {Threei}  yeah... tourists are tolerated as necessary evil :)
[11:48] {JohnH} obviously beautiful, but living full time is different question
[11:48] {dino} ceco sm s .20
[11:49] {Threei}  unless you for some reason need to be somewhere else very often, you wouldn't know it's an island
[11:49] {Threei}  plenty to see and to do
[11:50] {RonS} The forprofits flying on doubts that there will be an exec order to change the 90/10
[11:50] {RonS} ...from herb greenberg
[11:50] {Threei}  90/10?
[11:51] {RonS} thinkin 90% loan 10% cahsh for ed...
[11:51] {Threei}  ah
[11:52] {RonS} ntap takeover rumors
[11:53] {rambler} GRPN spike...
[11:59] {dino} ntap sm s .45
[12:01] {Threei} Long Setup:  TNA  .30 break
[12:01] {Threei}  if stays above .20
[12:02] {dino} ceco cov flat
[12:03] {dino} out nav .35, +.35
[12:05] {Threei}  nice
[12:08] {Threei}  looks like today is the day when we should trade every second alert
[12:09] {stewy} .
[12:09] {stewy} see yall tomorrow i'm done
[12:09] {stewy} thanks vad
[12:09] {Threei}  take care stewy
[12:10] {ese} rats....stopped even....LUV .29 +.01......cya tomorrow all...gotta go
[12:10] {swill} bye stewy
[12:10] {Threei} Short Setup: BP  .70 break
[12:10] {RonS} cya ese, stewy
[12:10] {rambler} cya guys..
[12:10] {stewy} take care swill, ese, dino, ron and the gange
[12:11] {Threei}  just a scalp most likely
[12:11] {Threei}  .76 stop
[12:11] {dino} cya
[12:11] {dino} bku to b/e, ntap to .51 brb
[12:12] {Threei}  deja vu
[12:13] {Threei}  we already played BP .70 break today with .76 stop
[12:16] {Threei} Long Setup:  X  .60 break
[12:16] {Threei}  if stays above .55
[12:17] {rambler} you in BP Vad...?
[12:17] {Threei}  not yet
[12:17] {Threei}  never triggered
[12:17] {pragmatic} has not broken .70 yet
[12:18] {Threei}  South Carolina: #Gingrich 33%, #Romney 31%, #Paul 15%
[12:18] {Threei}  now it did
[12:19] {Threei}  so, following the pattern, BP should work and X - fail
[12:20] {pragmatic} BP scalp? 1:1 ?
[12:20] {Threei}  should go under .65
[12:20] {Threei}  but I doubt it will lose .60
[12:26] {RonS} lvs lod
[12:27] {Threei} Short Setup: X  .50 break
[12:28] {Threei}  starts ,looking like inverse C&H
[12:29] {dino} ntap s .36
[12:30] {dino} cov .23, +.13
[12:31] {Threei}  cool one
[12:33] {dino} ty
[12:35] {rambler} BP not playing fair...
[12:37] {dino} fslr drop
[12:37] {Threei}  BP is not playing at all, lol
[12:37] {Threei}  it's in the coma
[12:39] {dino} vsm l .35
[12:39] {RonS} on what?
[12:39] {Threei}  FSLR
[12:39] {pragmatic} Well, .68 is a nice level to break
[12:39] {rambler} lose the .68..!
[12:40] {Threei}  dino's stream of conscience takes skill to read :)
[12:40] {dino} fslr
[12:40] {Threei}  consciousness too
[12:40] {Threei}  ok... violence time
06[12:40] * Threei hits BP over the head with 2x4
[12:41] {swill} could you wack x as well
[12:42] {Threei}  well, X didn't trigger yet
[12:42] {Threei}  would not be fair to hit it
[12:42] {swill} i know
[12:46] {RonS} Germany pushing for cuts in solar...
[12:46] {Threei}  well, they lose huge money on it
[12:46] {Threei}  at the time they can hardly afford it
[12:48] {dino} germany cuts nuclear and solar, what they going to use wood?
[12:49] {Threei}  used food oil
[12:49] {rambler} woolsocks and candles...
[12:49] {Threei}  I won't hold it against you if you decide to scratch BP
[12:50] {Threei}  really tests patience of a saint
[12:51] {rambler} X still valid?
[12:51] {Threei}  yes, as long as it stays under .60
[12:52] {pragmatic} yay
[12:53] {Threei}  ok X
[12:53] {Threei}  let's play ball
[12:53] {Threei}  oh, and remember I said I won't hold it against you if you scratch BP?
[12:53] {Threei}  I lied
06[12:54] * pragmatic lol
[12:55] {Threei}  X target 1:2
[12:58] {dino} amcx
[12:59] {dino} vsm s .25
[13:05] {Threei}  come here little Xiie
[13:06] {Threei}  1:1
[13:07] {Threei}  half out
[13:07] {Threei}  scalpers get out
[13:07] {pragmatic} stop ?
[13:07] {Threei}  as always
[13:07] {Threei}  to above b/e
[13:07] {pragmatic} ok
[13:07] {Threei}  textbook play
[13:11] {dino} cov amcx .87, +.38
[13:11] {RonS} gj
[13:11] {Threei}  wtg
[13:12] {dino} ty
[13:15] {dino} amcx spike again
[13:16] {Threei}  good boy X
[13:18] {dino} gj
[13:18] {Threei}  want 1:2
[13:19] {dino} nav sm l .50 stop .39
[13:20] {Threei}  stop to .46
[13:24] {dino} nav stop
[13:31] {dino} got lucky, out fslr .87, +.52
[13:32] {rambler} gj Dino...
[13:32] {dino} ty
[13:45] {Threei}  be back in 15
[13:51] {dino} unh drop
[13:51] {pragmatic} out bp
[13:53] {dino} unh sm l .75
[13:59] {dino} unh stop -.11
[14:02] {Threei}  what do you know, BP got executed at .62
[14:02] {Threei}  while I was away
[14:03] {Threei}  that's two wins in a row, breaking the pattern
[14:07] {Threei}  lol:
[14:07] {Threei}  So once AAPL buys Greece, does Mount Olympus get renamed iGod?
[14:08] {rambler} lets break more patterns..
[14:09] {dino} apol drop
[14:11] {Threei} Long Setup:  X  .40 break if stays above .35
[14:22] {Threei}  offering X .48
[14:22] {Threei}  out
[14:22] {Threei}  breaking it, rambler... third in a row :)
[14:23] {rambler} loving it...
[14:26] {Threei} Long Setup:  TZA  .25 break
[14:33] {pragmatic} next support is .31. Is that we should partial or exit ?
[14:33] {Threei}  stop under .15
[14:33] {Threei}  support?
[14:34] {pragmatic} res, sorry
[14:34] {Threei}  no, I am aiming for usual 1:1
[14:34] {Threei}  partial or scalp is personal preference
[14:35] {Threei}  thought of aggressive .20 entry... was a good idea but I fell asleep before finishing the thought
06[14:43] * Threei kicks TZA in the rear
[14:44] {dino} amcx s break .00
[14:45] {Threei}  1:1
[14:45] {Threei}  4th in a row
[14:46] {Threei}  can I go home?
[14:46] {rambler} soon...
[14:46] {Threei}  day becomes much brighter
[14:48] {Threei}
[14:48] {dino} too many rinses last two days
[14:50] {rambler} wow..AMCX...
[14:50] {rambler} where did that come from..
[14:51] {pragmatic} BP broke .60
[14:55] {dino} crr spike
[14:55] {dino} sdt drop
[15:03] {Threei}
[15:07] {JK13} interesting article
[15:07] {Threei}  22 seconds? well, we are long term traders by that standard then, lol
[15:08] {JK13} I think so
[15:08] {dino} cov amcx ave .91, +.08 jumpy bugger
[15:25] {rambler} upside down C&H on X
[15:26] {rambler} sorta...
[15:56] {Threei}  thank you all
[15:56] {Threei}  have a good evening
[15:56] {Threei}  see you tomorrow
[15:56] {rambler} c u in the am...
[15:58] {JK13} gn
[15:58] {dino} thx all, gn