RealityTrader Trading Log

Friday, December 26, 2008

Dec 26 2008

We made it a short session, too low volume. Nonetheless, PLD and USO trades made for a nice profitable day.
                                                                                               
Session Time: Fri Dec 26 00:00:00 2008

[08:07] {Onix} Good morning 3i, jmb & tomg
[08:07] {Threei}  Good morning
[08:08] {Onix} You could not sleep either hey?
[08:08] {Threei}  age... :)
[08:09] {Onix} ya
[08:13] {Onix} Vad, could your daughter make it home yet? 
[08:14] {Threei}  thankfully yes
[08:14] {Threei}  with flight delays, but that's minot inconvinience these days
[08:14] {Threei}  minor
[08:14] {Onix} thats great ... you had a good xmas then?
[08:15] {Threei}  fantastic
[08:15] {Onix} yes, there is nothing like having the children home for Xmas
[08:17] {Threei}  and feeding them to the point of fainting
[08:17] {Onix} no, that is not so good of you! 
[08:17] {Threei}  no, but who is to stop me?
[08:18] {Onix} true, they can go back on their diets when they go home again
[08:19] {Threei}  eqzaktly
[08:20] {Threei}  AMZN
[08:20] {Threei}  REPORTS 2008 HOLIDAY SEASON
[08:20] {Threei}  - Says 6.3M items ordered worldwide on its peak day of Dec. 15, notes it is the best holiday season ever for the compay
[08:21] {Larisa1} good morning :)
[08:21] {Threei}  Larisa :)
[08:21] {Larisa1} hi threei :)
[08:22] {Onix} hi there Larisa
[08:23] {Larisa1} onix :)
[08:24] {_elepet} good morning.
[08:24] {Threei}  elepet :)
[08:38] {Onix} hi lelepet
[08:58] {gen} gm Room
[08:58] {lisa_jay} Good Morning 
[08:58] {Threei}  gen, lisa :)
[08:59] {gen} Vad :)
[08:59] {gen} lisa:)
[09:06] {patience} happy boxing day RT
[09:06] {Threei}  patience :)
[09:07] {dawg} gm all
[09:08] {Threei}  dawg :)
[09:09] {dino} gm all
[09:09] {Threei}  dino :)
[09:10] {dino} :)
[09:12] {Threei}  keeping an eye on AMZN, PLD
[09:13] {Onix} hi gen, lisa, patience, dawg & dino
[09:13] {gen} Onix:)
[09:13] {lisa_jay} Hi Onix.
[09:14] {wishbone} good moring all
[09:14] {Threei}  wish :)
[09:15] {tomg} gm all
[09:15] {Threei}  tom :)
[09:18] {Onix} hi wishbone, tom
[09:18] {tomg} hi Onix
[09:20] {wishbone} hi onix
[09:21] {magoo} morning and hope everyone had nice holiday
[09:22] {Threei}  magoo :)
[09:25] {Onix} hi magoo, yes ty
[09:25] {Threei}  12/24/08 07:29pm
[09:25] {Threei}  [GM] General Motors Corp GMAC unit approved by Fed as bank holding co; Utah Dept of Financial institutions also approves GMAC Bank as a State bank
[09:25] {Threei}  -The Federal Reserve stated it stepped in ahead of Friday's GMAC debt for equity exchange deadline, citing "emergency conditions" are needed to speed GMAC's approval and ensure good participation Friday.
[09:25] {Threei}  -Vote was 4-1. Ms. Duke the head of the American Bankers Association was the sole dissenter.
[09:25] {Threei}  -As a condition of the sale the Fed requires GM to reduce its stake in GMAC from 49% to 10%. The other majority owner, PE firm Cerberus, will also be required to reduce its stake in GMAC to a range of 15-33% from 51% currently.
[09:27] {Onix} the plot thickens
[09:30] {Threei}  AMZN
[09:31] {Threei}  half lot long closer to 53
[09:31] {Threei}  never mind
[09:31] {Threei}  lol
[09:35] {Threei}  .55 long if holding .40
[09:35] {magoo} watching PLD
[09:36] {magoo} missed it
[09:39] {lisa_jay} GRMN Vad?
[09:40] {Threei}  not sure, too low volume
[09:41] {lisa_jay} Ok, thanks.
[09:42] {Threei} Long Setup:  RIMM  half lot 41 break if stays above 40.80
[09:43] {dino} vol. low on everything
[09:43] {Threei}  only natural for such day
[09:43] {Threei}  PLD
[09:44] {Threei}  either pullback into 13 area for long
[09:44] {Threei}  or .60 break
[09:44] {Threei}  stop under .40
[09:44] {Threei}  break is much riskier
[09:46] {Threei}  half out .75
[09:47] {Threei}  offer 1/4 more .above .90
[09:48] {Threei}  stop trailed to under .50
[09:48] {magoo} took 87
[09:48] {magoo} TY vad
[09:48] {Threei}  welcome
[09:49] {tomg} ty vad
[09:49] {Threei}  :)
[09:50] {dino} cb l hl .74
[09:51] {Threei}  stop to .55
[09:52] {dino} cb stop to .98
[09:54] {Threei}  double top at .90... really needs to break it this time or it's done for the time beeing
[09:54] {dino} out cb +.24
[09:55] {Threei}  out PLD balance
[09:56] {Threei}  stkl
[09:56] {Threei}  never mind, wrong window
[10:01] {Threei}  going over 14, PLD... hard to nail entry though
[10:01] {dino} afam sm l .35, stop .98
[10:02] {dino} thin, gappy
[10:03] {Threei} Long Setup:  PLD  .25 half lot
[10:03] {Threei}  stop under 14
[10:03] {Threei}  PLD goes significantly higher, IMO
[10:04] {Threei}  just too volatile
[10:04] {dino} air pocket afam tighten to .04
[10:06] {Threei}  half out .45 PLD
[10:06] {Threei}  stop to under .20
[10:07] {Threei}  offering balance at .75
[10:07] {magoo} waiting 67
[10:07] {Threei}  not looking
[10:07] {Threei}  just waiting for machine-gun sound of order filled
[10:08] {Threei}  on either side
[10:10] {Threei}  Ok
[10:10] {dino} afam stopped
[10:10] {Threei}  waiting for deeper pullback
[10:10] {Onix} hig?
[10:11] {Threei}  HIG, if market starts moving I'd try .80 break
[10:11] {Threei}  stop under .70 for scalpers
[10:11] {Onix} ty
[10:11] {lisa_jay} amzn
[10:12] {Threei}  HIG looks strong enough to try but it does need market help
[10:12] {Onix} ty
[10:22] {Threei}  whether you partialed or not when it hit 1;1, stop is now under .80
[10:24] {Onix} out .89 ty
[10:25] {Threei}  :)
[10:26] {Onix} RMBS?
[10:27] {Threei}  no read on this one
[10:27] {Onix} ty
[10:27] {magoo} whats your read PLD here vad?
[10:28] {Threei}  14 break with stop under .80
[10:28] {Threei}  half lot
[10:28] {magoo} ty
[10:29] {Threei}  it has look of "surprise is coming"... just low volume day with few players that can cause fizzle-out instead of real run
[10:29] {Threei}  if loses .80 wait for bounce entry near .50
[10:29] {magoo} yeah..but traders were on it wed and they know
[10:32] {Threei}  anyone caught this dip to .53?
[10:32] {magoo} i got 67
[10:33] {Threei}  a bit high...
[10:33] {magoo} yeah
[10:34] {Threei}  try to exit half at least around .80
[10:41] {Onix} fortunately i missed it
[10:43] {lisa_jay} lol
[10:45] {Threei}  it gave a scalp with entry close to .50
[10:45] {Threei}  missed near 13 though
[10:46] {dino} sds sm l .50
[10:48] {Threei}  watching for double bottom off 13
[10:49] {Threei}  nope
[10:51] {Threei}  12.50 next
[10:57] {dino} out sds .44 -.06
[10:57] {magoo} keep reading it vad
[10:57] {magoo} feels like 15 today
[11:02] {tomg} ty amzn, pld Vad, have a good weekend everyone
[11:03] {Threei}  take care tom, have a good one
[11:03] {patience} bye tom
[11:03] {magoo} u too tom:)
[11:03] {dino} cya tom
[11:09] {Threei} Long Setup:  USO  half lot 28 break if stays above 27.90
[11:10] {magoo} scalp or move?
[11:10] {Threei}  no idea, lol
[11:12] {dino} mant spike
[11:13] {Onix} in
[11:14] {lisa_jay} in
[11:17] {magoo} read AMZN here vad?
[11:18] {Threei}  .30 long
[11:18] {Threei}  USO 1:1... half or scalp
[11:18] {Onix} half out .14
[11:19] {Threei}  under .15 AMZN invalidated
[11:19] {Threei}  or stopped
[11:20] {Threei}  nice exit onix, top-ticked it
[11:20] {Onix} ty
[11:21] {Threei}  lisa?
[11:21] {lisa_jay} still in vad
[11:21] {Threei}  not even part?
[11:22] {lisa_jay} nope..missed it :-(
[11:22] {lisa_jay} moved stop to .99 though.
[11:23] {Threei}  yes
[11:23] {Threei}  it spent almost 2 min over 1:1... wake up :)
[11:23] {lisa_jay} trout me...:-)
06[11:24] * dino slaps lisa_jay around a bit with a large trout
[11:24] {Threei}  nope... Christmas spirit... can't
[11:24] {Onix} i was lucky for i put my seel in before the time for .14
[11:24] {Threei}  here it is again
06[11:25] * magoo slaps lisa_jay around a bit with a large exit strategy
[11:25] {lisa_jay} Thanks Vad...got out now.  Got 11c out of the trade.
[11:25] {Threei}  lisa... miss second chance and I wuill forget the Christmas spirit!
[11:25] {Threei}  oh, OK :)
[11:25] {dino} sm s mant .11
[11:26] {Threei}  ok AMZN, it's time
[11:26] {lisa_jay} Missed the nice PLD trades in the morning...took an AMZN trade for .2 and let it ride to breakeven.  I really need to wake up.
[11:26] {Threei}  1:2 USO
[11:27] {gen} bye guys I am done for today :) 
[11:27] {Onix} 1/4 out more o .17 ty
[11:27] {gen} Merry Christmas
[11:27] {dino} later gen
[11:27] {Threei}  take care gen
[11:27] {Onix} see ya gen
[11:28] {dino} gmcr jumpy
[11:28] {Threei}  no worky AMZN
[11:29] {Threei}  USO over 1:3
[11:29] {Threei}  1:4, all out
[11:31] {Onix} wtg
[11:35] {dino} sso l .54
[11:36] {Onix} last 100 out .59, ty Vad
[11:36] {Threei}  beauty
[11:38] {dino} gj
[11:39] {Onix} ty
[11:40] {lisa_jay} nice trade guys.
[11:53] {magoo} AMZN
[11:56] {magoo} PLD gets ready imo
[12:03] {Threei}  feels so... closest support is .15
[12:03] {magoo} in just now .21
[12:03] {Threei}  market is trying to help
[12:03] {magoo} im thinking 14  and then more
[12:04] {magoo} with heavy breathing
[12:04] {lisa_jay} Any trade call on PLD Vad?
[12:04] {Threei}  if .33 offer is taken, should spike to over .40
[12:04] {dino} rimm sm l .65
[12:05] {Threei}  actually offer moved to .29 and got eaten
[12:05] {magoo} yeah..i loked 33 saw nuttin
[12:06] {Threei}  here we go
[12:07] {magoo} id like toi see 60 area
[12:07] {Threei}  over .40
[12:08] {magoo} waiting .61 
[12:08] {Threei}  taking .50 is next hurdle
[12:08] {magoo} can change mind on a dime
[12:12] {magoo} hope it doesnt rinse me first
[12:27] {Threei}  lost drive
[12:27] {Threei}  and will to live
[12:50] {dino} sso stopped -.10
[12:51] {laserdave1} hey everyone
[12:51] {laserdave1} hope you all had a nice Christmas
[12:52] {laserdave1} and Santy was good to you
[12:52] {magoo} same to u dave
[12:53] {dino}  ty dave, back at you
[12:53] {laserdave1} hopefully santa will give us a good year!!
[12:53] {laserdave1} thanks guys
[12:54] {dino} ouch afam
[12:57] {Threei}  hey dave
[12:58] {laserdave1} howdy
[12:59] {Onix} hello dave
[12:59] {laserdave1} hello
[13:01] {Threei}  GM
[13:01] {Threei}  SOURCES FEEL THAT GMAC GETTING CLOSE TO REACHING GOAL OF 75% PARTICIPATION IN $38B DEBT EXCHANGE - CNBC
[13:01] {Threei}  - note: the debt exchanged deadline is today at 5pmET
[13:02] {Threei}  everything is so dead
[13:02] {Threei}  NQ range for the day is 10 points
[13:02] {Threei}  when was last time was this?
[13:02] {Threei}  2006?
[13:02] {Threei}  lol
[13:03] {Threei}  volume is at part with Wed, and Wed was half day
[13:03] {Threei}  at par
[13:03] {Threei}  how about we just end it and have a great weekend?
[13:04] {Threei}  we are up for the day, what's the need to seek adventures
[13:05] {Threei}  anyone has opinion about that? or you all are asleep anyway?
[13:06] {Threei}  I'll take it as an answer
[13:07] {Threei}  thank you all
[13:07] {Threei}  have a great weekend, see you all on Monday
[13:09] {magoo} bye vad
[13:10] {laserdave1} c ya Vadster
[13:10] {Onix} thanks a million Vad, i will also go and enoy the weekend
[13:12] {dawg} bye Vad
[13:12] {lisa_jay} Bye Vad.   Thanks.
[13:12] {_elepet} has everybody left?
[13:14] {magoo} im here
[13:16] {Onix} i am here
[13:20] {_elepet} That's good.  I just wanted to say good bye for awhile.  I'm off to Mexico soon, and if the internet connection there works, I'll be seeing you around the 16th of Jan.  I haven't participated much but have been watching and hopefully learning from all of you and from my mistakes.so thanks.
[13:20] {magoo} good luck too u
[13:25] {dino} .
[13:26] {dino} have fun elepet
[13:30] {Onix} have a good time elepet, bye
[13:30] {dino} afam l sm .90 break
[13:31] {magoo} PLD
[13:44] {_elepet} i haven't left yet. what about PLD?
[13:47] {Onix} looks a little tired to me :)
[13:47] {magoo} watching it
[13:49] {magoo} its risky but i think its not done
[13:51] {Onix} OI  is moving nicely
[14:03] {_elepet} possible entry for PLD?
[14:04] {magoo} needs mkt help
[14:04] {magoo} but if mkt would get going
[14:05] {magoo} close too 13 is good long..78 stop
[14:08] {_elepet} i got in at 13.05. wondering when to get out.
[14:09] {magoo} first exit .40...then .60
[14:09] {_elepet} i have trouble with getting out.
[14:09] {magoo} .77 stop
[14:11] {magoo} partial here
[14:14] {magoo} el??
[14:15] {_elepet} i don't have enough shares to partial. market seems to be heading up so i'm holding.
[14:15] {magoo} ok
[14:15] {magoo} stop would be flat now
[14:31] {magoo} 14 is in the cards imo
[14:31] {_elepet} still in
[14:31] {magoo} yes
[14:31] {magoo} i patialed at .31
[14:34] {_elepet} 14 would be nice. I had figured .45 but past there now
[14:35] {patience} toronto is closed today, Goldcorp is up $1.78 on the US side.   Nice slow trade.
02[14:45] * Disconnected
02[14:45] * Attempting to rejoin channel #discussions
03[14:46] * Rejoined channel #discussions
05[14:46] -Threei- [Welcome-#discussions] Welcome to the RealityTrader Discussion Room. Please read our disclaimer at: www.realitytrader.com/disclaimer.htm before proceeding.
[14:46] {Threei}  USO over 1:3
[14:46] {Threei}  1:4, all out
[14:46] {Onix} wtg
[14:46] {dino} sso l .54
[14:46] {Onix} last 100 out .59, ty Vad
[14:46] {Threei}  beauty
[14:46] {dino} gj
[14:46] {Onix} ty
[14:46] {lisa_jay} nice trade guys.
[14:46] {magoo} AMZN
[14:46] {magoo} PLD gets ready imo
[14:46] {Threei}  feels so... closest support is .15
[14:46] {magoo} in just now .21
[14:46] {Threei}  market is trying to help
[14:46] {magoo} im thinking 14  and then more
[14:46] {magoo} with heavy breathing
[14:46] {lisa_jay} Any trade call on PLD Vad?
[14:46] {Threei}  if .33 offer is taken, should spike to over .40
[14:46] {dino} rimm sm l .65
[14:46] {Threei}  actually offer moved to .29 and got eaten
[14:46] {magoo} yeah..i loked 33 saw nuttin
[14:46] {Threei}  here we go
[14:46] {magoo} id like toi see 60 area
[14:46] {Threei}  over .40
[14:46] {magoo} waiting .61 
[14:46] {Threei}  taking .50 is next hurdle
[14:46] {magoo} can change mind on a dime
[14:46] {magoo} hope it doesnt rinse me first
[14:46] {Threei}  lost drive
[14:46] {Threei}  and will to live
[14:46] {dino} sso stopped -.10
[14:46] {laserdave1} hey everyone
[14:46] {laserdave1} hope you all had a nice Christmas
[14:46] {laserdave1} and Santy was good to you
[14:46] {magoo} same to u dave
[14:46] {dino}  ty dave, back at you
[14:46] {laserdave1} hopefully santa will give us a good year!!
[14:46] {laserdave1} thanks guys
[14:46] {dino} ouch afam
[14:46] {Threei}  hey dave
[14:46] {laserdave1} howdy
[14:46] {Onix} hello dave
[14:46] {laserdave1} hello
[14:46] {Threei}  GM
[14:46] {Threei}  SOURCES FEEL THAT GMAC GETTING CLOSE TO REACHING GOAL OF 75% PARTICIPATION IN $38B DEBT EXCHANGE - CNBC
[14:46] {Threei}  - note: the debt exchanged deadline is today at 5pmET
[14:46] {Threei}  everything is so dead
[14:46] {Threei}  NQ range for the day is 10 points
[14:46] {Threei}  when was last time was this?
[14:46] {Threei}  2006?
[14:46] {Threei}  lol
[14:46] {Threei}  volume is at part with Wed, and Wed was half day
[14:46] {Threei}  at par
[14:46] {Threei}  how about we just end it and have a great weekend?
[14:46] {Threei}  we are up for the day, what's the need to seek adventures
[14:46] {Threei}  anyone has opinion about that? or you all are asleep anyway?
[14:46] {Threei}  I'll take it as an answer
[14:46] {Threei}  thank you all
[14:46] {Threei}  have a great weekend, see you all on Monday
[14:46] {magoo} bye vad
[14:46] {laserdave1} c ya Vadster
[14:46] {Onix} thanks a million Vad, i will also go and enoy the weekend
[14:46] {dawg} bye Vad
[14:46] {lisa_jay} Bye Vad.   Thanks.
[14:46] {_elepet} has everybody left?
[14:46] {magoo} im here
[14:46] {Onix} i am here
[14:46] {_elepet} That's good.  I just wanted to say good bye for awhile.  I'm off to Mexico soon, and if the internet connection there works, I'll be seeing you around the 16th of Jan.  I haven't participated much but have been watching and hopefully learning from all of you and from my mistakes.so thanks.
[14:46] {magoo} good luck too u
[14:46] {dino} .
[14:46] {dino} have fun elepet
[14:46] {Onix} have a good time elepet, bye
[14:46] {dino} afam l sm .90 break
[14:46] {magoo} PLD
[14:46] {_elepet} i haven't left yet. what about PLD?
[14:46] {Onix} looks a little tired to me :)
[14:46] {magoo} watching it
[14:46] {magoo} its risky but i think its not done
[14:46] {Onix} OI  is moving nicely
[14:46] {_elepet} possible entry for PLD?
[14:46] {magoo} needs mkt help
[14:46] {magoo} but if mkt would get going
[14:46] {magoo} close too 13 is good long..78 stop
[14:46] {_elepet} i got in at 13.05. wondering when to get out.
[14:46] {magoo} first exit .40...then .60
[14:46] {_elepet} i have trouble with getting out.
[14:46] {magoo} .77 stop
[14:46] {magoo} partial here
[14:46] {magoo} el??
[14:46] {_elepet} i don't have enough shares to partial. market seems to be heading up so i'm holding.
[14:46] {magoo} ok
[14:46] {magoo} stop would be flat now
[14:46] {magoo} 14 is in the cards imo
[14:46] {_elepet} still in
[14:46] {magoo} yes
[14:46] {magoo} i patialed at .31
[14:46] {_elepet} 14 would be nice. I had figured .45 but past there now
[14:46] {patience} toronto is closed today, Goldcorp is up $1.78 on the US side.   Nice slow trade.
[14:46] {magoo} was bumped out
[14:46] {magoo} thats .65 cents on my PLD call
[14:46] {magoo} lets see if vad reads thru this scroll.....SLACKER VAD HE HE
[14:51] {magoo} watching AMZN here
[14:52] {_elepet} i'm still in. but getting antsy. up about .50
[14:53] {magoo} u should be offering out
[14:53] {magoo} iots a hard breather
[14:54] {magoo} take .70 and reload
[15:41] {dino} hum-dee-dum
[15:41] {Onix} .
[15:59] {dino}  out rimm .80, +.15
[15:59] {dino} out afam .95, +.05
[16:02] {_elepet} out pld +.50
[16:03] {_elepet} Thanks and so long for now.
[16:03] {magoo} good nite
[16:03] {dawg} thanks all
[16:04] {dino} thx all, take care
[16:04] {dino} taking this week off next year, volume not worth it
[16:05] {magoo} agrree