Feb 20 2008

Session Time: Wed Feb 20 00:00:00 2008

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[08:05] {Threei} With GRMN exploding on good earnings, interested in SIRF here
[08:06] {Threei} wow... heard of adage "buy stock if you like the product"? so much for that:
[08:07] {Threei} SHRP FILES FOR CHAPTER 11 BANKRUPTCY PROTECTION
[08:07] {Threei} how cool their selection is... and there you go
[08:07] {bruce} planning to do premarket trades vad?
[08:08] {Threei} if I see SIRF activity, yes
[08:08] {bruce} k
[08:08] {Threei} it's at the very bottom of the chart after being pounded couple weeks ago
[08:09] {Threei} with such stimuli as GRMN earnings/guidance/gap, may provide us with scalp
[08:09] {bruce} I'm w you
[08:10] {Threei} since that gap down it danced around 7 support,
[08:10] {Threei} closed at 7.11 yesterday,
[08:10] {Threei} touched 7.30 this morning,
[08:11] {Threei} has nice sizes at 7.100 right now
[08:12] {Threei} so the structure I see at this point would be 7.30 break as a long trigger, stop under 7.10, with idea of either scalp into spike if breaks big offer at 7.35
[08:12] {Threei} or if moves in a sustainable manner, maybe more than scalp
[08:12] {Threei} NQ is red so kind of hard to count on follow through... but who knows, in any bear market there are bull islands
[08:14] {bruce} k
[08:14] {bruce} watchng for break
[08:15] {bruce} do you know how touse stock alert feautre in modules vad?
[08:16] {Threei} nope
[08:16] {Threei} alert is benign thing, just experiemtn with it :)
[08:16] {Threei} it's not like it's going to buy and sell without you knowing
[08:17] {bruce} couldn't figure it out
[08:18] {bruce} didn't seem any way to enter a sotck into it
[08:18] {bruce} thanx anyway
[08:18] {Threei} open this window and click Property
[08:19] {Threei} it will open a window to enter stocks
[08:19] {Threei} Property is a little icon right under Window in menu, hover your cursor on it to see a tooltip
[08:20] {Threei} 4th from the right
[08:20] {bruce} cool
[08:20] {bruce} see it now
[08:20] {Threei} :)
[08:20] {bruce} thanx
[08:20] {Threei} sure
[08:20] {bruce} never used that property icon before
[08:21] {Threei} it's the same as right click on the window you want to modfify
[08:21] {Threei} summons the property window
[08:23] {bruce} I tried right clicking the alerts box but nothing happens
[08:24] {bruce} alerts can be handy for stuff like double bottom or a stock hitting major support level
[08:24] {Threei} for some windows it's that button
[08:25] {bruce} never realized that
[08:25] {bruce} thanx again
[08:26] {bruce} sirf close to trigger
[08:28] {Threei} getting any warmer in prairies bruce?
[08:29] {bruce} you know the story
[08:29] {bruce} many temp changes day today
[08:29] {bruce} actully gota bit above rfreezing last saturday
[08:29] {bruce} then back down
[08:30] {bruce} its livable
[08:30] {bruce} I don't mind anything above -15
[08:30] {Threei} *JAN CPI M/M: 0.4% V 0.3%E; CPI EX-FOOD & ENERGY: 0.3% V 0.2%E
[08:31] {Threei} *JAN HOUSING STARTS: 1.012M V 1.010ME; HOUSING PERMITS 1.048M V 1.050ME
- Prior housing starts revised from 1.006M to 1.004M
[08:31] {Threei} - Prior housing permits revised from 1.068M to 1.08M
[08:31] {Threei} (CA) JAN LEADING INDICATORS M/M: 0.2% V 0.0%E
[08:32] {Threei} (CA) DEC INTERNATIONAL SECURITIES TRANSACTIONS: C$1.241B V C$1.5BE
- Prior revised from -C$4.84B to -C$4.898B
[08:34] {Threei} CPI All Items Year/Year
[08:34] {Threei} 4.3%
[08:34] {Threei} Ex Food,
[08:34] {Threei} Energy
[08:34] {Threei} 2.5%
[08:44] {magoo} morning
[08:44] {Threei} mags :)
[08:47] * bruce slaps magoo around a bit with a large trout
[08:48] {bruce} there - start your day right for you mags
[08:49] {_fastchocho} gm
[08:50] {magoo} : )
[08:50] {Threei} morning fastchocho, welcome to the room
[08:50] {_fastchocho} ty
[08:50] {magoo} yes, morning fast
[08:51] {_fastchocho} ty
[08:51] {bruce} ntri haircut
[08:52] {magoo} vad, u watching grmn for a scalp up? i know u watyching SIRF from scroll
[08:52] {magoo} last nite bruce
[08:54] {bruce} k mags
[08:55] {Threei} rather watching SIRF bbased on GRMN
[08:56] {Threei} GRMN may present opportunity as well, it's a volatile one
[08:56] {Threei} will see
[08:56] {magoo} like rimm
[08:56] {cosmo} SIRF looks flat imo
[08:57] {Threei} NASDAQ doesn't look encouraging for longs
[08:57] {Threei} CPI numbers don't help
[08:57] {Threei} inflation creeps in
[08:58] {cosmo} what the world needs now.... is $40 oil
[08:58] {Threei} 35 is even better
[08:58] {Threei} let's vote?
[08:59] {Threei} I am all forit
[08:59] {cosmo} $20 i say
[08:59] {cosmo} like old times...
[09:00] {Raven}
3 long time ago good ... now heap shit
[09:00] {Raven}
3 an old Indian
[09:00] {cosmo} hmm
[09:01] {magoo} play qid today vad, keep eyye on it
[09:01] {Threei} or as the oldest cuneiform ever found says "Times gone bad. Youth doesn't listen to elders and drinks undiluted wine"
[09:02] {Raven}
3 nice
[09:02] {cosmo} perenial human nature
[09:03] {Raven}
3 perennial ?
[09:03] {Threei} Lehman''s current Q1 WTI price forecast is $86/barrel. A Goldman analyst said overnight that the firm still expects oil prices to break $105/barrel in the second half of 2008, adding that it is possible that we will see a pullback in oil prices before the second half.
[09:03] {cosmo} primordial?
[09:03] {Raven}
3 maybe
[09:03] {cosmo} checking...
[09:03] {Raven}
3 k
[09:04] {dptl} good morning all
[09:04] {Threei} dp :)
[09:04] {Threei} FOMC minutes from the January 29/30 policy-setting meeting will take the helm mid-day. Recall that the Fed cut rates by 50bps at the late- January meeting. The market is likely to scrutinize the Fed, looking for signs of panic amongst the MPC, and will also look for a solid explanation as to why the Fed cut rates by 75bps in a surprise move on January 22.
[09:04] {magoo} PD :)
[09:07] {cosmo} CEGE
[09:08] {cosmo} ... should be holding here
[09:10] {curtisweese} it going to be ugly today?
[09:11] {Threei} it's ugly already
[09:11] {Threei} what happens next... let's refrain from forecasts, not many of those materialized lately
[09:12] {Threei} I don't want to chase shorting right out of the gate
[09:12] {Threei} sudden spikes shaking out shorts are common
[09:13] {esemde} morning Vad.....seems like good advice right out of the gate ....
[09:13] {Threei} ese :)
[09:13] {curtisweese} what about ETFC? that looks like a short at 4.90 or so might be there before open though
[09:14] {dino} gm all
[09:14] {Threei} dino :)
[09:14] {esemde} dino
[09:14] {Threei} if it forms the setup curtis.. why guess
[09:15] {Threei} ETFC tends to trade quite narrowly unless gets news
[09:15] {Threei} or rumors, this one is very rumor=prone
[09:18] {Threei} http://www.realitytrader.com/blog/2008/02/trading-psychology-stage-2.html
[09:22] {curtisweese} ency bought by pfizer for 2.35 share....closed at 1.06 nice one if you own it
[09:23] -} *services* REGISTER Geog geog
[09:23] {magoo} good blog vad, just read it ..thanx
[09:23] {Threei} always
[09:24] {Threei} don't take ice cream from the passerbys, ok?
[09:24] {magoo} i my case, u mean beat the hot dog vendor don't u?
[09:25] {Threei} if that's what you fancy
[09:31] {lumdus} good morning all.
[09:31] {Threei} lum :)
[09:31] {magoo} lum:)
[09:31] {Threei} SIRF is slow, and GRMN drops hard
[09:32] {magoo} look at that drop
[09:32] {Threei} I'd say, 7.22 worth a try with .15 stop
[09:32] {magoo} sigh
[09:32] {Threei} just a scalp most likely
[09:32] {magoo} full lot?
[09:32] {Threei} sure
[09:32] {Threei} thock stock, tight stop
[09:32] {Threei} thick
[09:33] {Threei} gain is not likely to be spectacular
[09:33] {dino} out hurn swing yesterday p.m. +2.00
[09:33] {Threei} so small lot makes no sense at all
[09:33] {Threei} GRMN bounce play, small shares off 70
[09:33] {Threei} don't chase, jumped while I typed
[09:35] {Threei} get ready
[09:35] {magoo} wow
[09:35] {Threei} cross back over 70 long if holding above .70
[09:35] {Threei} in .01
[09:36] {Threei} 1:1 easy
[09:37] {Threei} and that was all it gave so far
[09:39] {magoo} outr here .57
[09:39] {magoo} missed fisrst ecxit
[09:39] {Threei} good job
[09:39] {Threei} I took first exit but didn't pull trigger on .30 break second time around
[09:39] {magoo} i laid out .57 first and no fill..a lil scary there but only half
[09:40] {magoo} look at that typing he he
[09:40] {magoo} [09:39] {magoo} outr here .57
[09:40] {magoo} [09:39] {magoo} missed fisrst ecxit
[09:40] {magoo} [09:39] {Threei} good job
[09:40] {magoo} [09:39] {Threei} I took first exit but
[09:41] {dino} fslr sm l .50
[09:41] {lumdus} in qcom 42.59
[09:41] {lumdus} long
[09:42] {dino} out 205 .50, +1.00
[09:42] {Threei} GRMN totally lost the idea of where the north is
[09:42] {lumdus} stop on qcom 42.47
[09:45] {Threei} watching QID for bounce play
[09:45] {Threei} NASDAQ is due to pullback it feels
[09:46] {dino} irbt l .00, stop lod
[09:46] {lumdus} qcom qo up already ..
[09:47] {Threei} QID support 51.90 for stop placement
[09:47] {Threei} hard to nail exact entry
[09:47] {magoo} yeah..i missed .99
[09:47] {lumdus} magoo dcc
[09:48] {Threei} SIRF 1:1
[09:48] {Threei} scalpers take profit
[09:48] {Threei} sane traders, let it trade
[09:49] {lumdus} any news on sirf ?
[09:49] {Threei} no
[09:50] {dino} sm fslr l .12
[09:50] {lumdus} qcom stop b/e 42.59
[09:52] {Threei} QID long on cross back over 52
[09:52] {Threei} stop .89
[09:53] {Threei} if loses .90 here wait
[09:54] {Threei} hesitation
[09:54] {lumdus} stop on qcom 42.67 looks like an all day ride maybe.
[09:54] {Threei} invalidated QID
[09:55] {lumdus} qcom stp 42.71
[09:55] {magoo} long qid .99
[09:56] {Threei} SEED half lot long .60
[09:56] {magoo} out .11 TY
[09:57] {Threei} stop under .40
[10:00] {lumdus} qcom out 42.70 + .11
[10:02] {magoo} SEED vald?
[10:02] {Threei} yes
[10:02] {magoo} ty
[10:03] {esemde} correct me if i'm wrong but even though the market is pushing down...it's not that hard seems to be losing steam to the down side
[10:04] {Threei} you are not wrong
[10:04] {cosmo} CROX
[10:04] {Threei} watching FFIV
[10:04] {Threei} 23.06 long trigger if stays above 22.90
[10:04] {lumdus} bac watch for a short..
[10:06] {lumdus} short bac 41.93 stop 42.07
[10:09] {Threei} FFIV holding well, waiting for market help
[10:09] {magoo} qid short scalp soon imho
[10:09] {Chaeron} gm all
[10:09] {Threei} chaeron :)
[10:09] {magoo} short qid .4o\
[10:10] {_fastchocho} short leh
[10:11] {Threei} SIRF, scalpers win
[10:11] {Threei} again
[10:11] {magoo} lately..they do
[10:11] {Threei} LEH stop above 54 fast?
[10:12] {_fastchocho} 54 stop looks ok
[10:12] {dino} irbt stopped .81 -.19
[10:13] {magoo} out QID .24, plus whatever
[10:13] {Threei} ah come on magoo
[10:13] {Threei} whip out the calculator, don't leave us hanging
[10:13] {magoo} i posted setup boss
[10:13] {_fastchocho} the lond GRMN looks good
[10:13] {Threei} suspence is killing inquiring minds
[10:13] {_fastchocho} long
[10:13] {magoo} lets see...uh..carry the 3..subtracr the
[10:13] {bruce} seed close to trigger
[10:13] {lumdus} vad, you looking to short LEH ?
[10:14] {lumdus} looks more long to m.e i think
[10:14] {_fastchocho} yes
[10:14] {Threei} no lum, it's fasat's play
[10:14] {lumdus} oh, ..
[10:14] {Threei} fast's
[10:14] {_fastchocho} lum whatdo you think?
[10:14] {Threei} I have this bad habit to be curious about someone else plays :)
[10:14] {lumdus} not short .. maybe long
[10:15] {Threei} SEED is honestly trying
[10:15] {Threei} FFIV nears trigger
[10:16] {magoo} in SEED aggressive .59
[10:16] {Threei} magoo and aggressive... who would have ever thought
[10:17] {_fastchocho} magoo whats ur target for SEED?
[10:17] {magoo} already waiting .74
[10:17] {magoo} scalparoo
[10:17] {magoo} OUT
[10:17] {magoo} Fukll lot
[10:17] {magoo} TY boiss
[10:18] {Threei} you are welcome but don't cry now
[10:18] {magoo} too late ..crying
[10:18] {Threei} out .87
[10:18] {Threei} +.27
[10:18] {dino} onxx l .35, stop .98
[10:18] {magoo} where u full?
[10:18] {Threei} yes sir
[10:18] {magoo} drats
[10:19] {magoo} u out fast?
[10:19] {Threei} fast, you out LEH?
[10:19] {_fastchocho} no still waiting to go in
[10:19] {Threei} oh
[10:19] {Threei} I though you shorted already
[10:20] {_fastchocho} no it was moving to fast
[10:20] {Threei} good thing then
[10:20] {magoo} fastcho, u out SEED?
[10:20] {Threei} FFIV triggered
[10:20] {_fastchocho} nope not in fast enough..lol
[10:21] {Threei} just don't change nick to slowchocho
[10:21] {magoo} lol
[10:21] {Threei} let current one be the motivation
[10:21] {dino} hmmmmm
[10:21] {magoo} now i am BALLING vad
[10:22] {esemde} LONG another 1/2 lot of SOLF 15.27
[10:22] {Threei} well, and I can't even gloat
[10:22] {Threei} since I am out too
[10:22] {magoo} its avail short u know
[10:22] {magoo} for a blow off scalp
[10:23] {Threei} FFIV stop .94 btw
[10:23] {Threei} 1:1 for those pesky scalpers
[10:23] {Threei} {pesky scalpers} look who is talking
[10:24] {magoo} waiting .23
[10:25] {Threei} SEED is famine stock
[10:26] {_fastchocho} wil SEED go to 12 anyone?
[10:26] {Threei} unless it goes back under 9 :)
[10:26] {magoo} it may go 10
[10:26] {_fastchocho} 9.07
[10:26] {Threei} it's a volatile jumpy one, highly impacted by the general market direction
[10:27] {_fastchocho} 9.15
[10:29] {_fastchocho} 8.98
[10:29] {magoo} OUT FFIV ty boss
[10:29] {Threei} half out FFIV for me
[10:29] {_fastchocho} te market is tuck in down trend
[10:29] {Threei} welcome mags
[10:29] {dptl} got to go.... have a good rest of the da all......o btw ty for FFIV Vad
[10:30] {Threei} take care dp and welcome
[10:30] {magoo} wait DP
[10:30] {dptl} no
[10:30] {Threei} lol
[10:30] * magoo slaps dptl around a bit with a large trout
[10:30] {dptl} :)
[10:30] {Threei} I know scalping rules... but FFIV acts like salmon
[10:30] {magoo} vad, dcc quick
[10:30] {Threei} gotta try for the chance of sizeable gain
[10:31] {Chaeron} a whole lotta talk about fish in this place....
[10:31] {_fastchocho} ok guys i am stuck..deciding between short LEH or GRMN
[10:31] {dino} flip a coin
[10:31] {dino} keep your stop
[10:33] {Threei} if I absolutely had to decide, I'd go with GRMN, fast
[10:34] {Threei} stop for the FFIV balance is trailed to .04
[10:34] {Threei} won't lose money on this one
[10:34] {Threei} worst case scenario I give back half of profit
[10:36] {Threei} see typicakl salmon action on FFIV?
[10:36] {Threei} stays put when market drops, makes new high when market bounces
[10:36] {dino} onxx stopp .00, -.35
[10:36] {Threei} that's what me likley
[10:36] {_fastchocho} whats target on FFIV?
[10:37] {Threei} no monetary target for me, rather going with the way it trades
[10:37] {Threei} while it crawls up slowly, without spikes, I am holding it,
[10:37] {Threei} maybe trailing stop if it forms nice readable support
[10:37] {Threei} if it spikes vertically with volume increase, either get out or trail stop tighter
[10:38] {Threei} will comment on the go
[10:39] {dino} itri l .40 ,sm stop .99
[10:40] {Threei} out 1/4 more FFIV
[10:40] {Threei} +.30
[10:40] {Threei} stop to 23.15
[10:40] {esemde} if SOLF bounces of 15.00 today......that would be a triple bottom....i'm gambling with a 1/2 lot here but this could prove to very profitable
[10:41] {esemde} I plan on adding more around the 15.50 Area
[10:41] {esemde} if conditions are right.
[10:45] {bruce} rimm AS BREAKOUT LONG VAD?
[10:45] {bruce} sorry about caps
[10:48] {Threei} I like it bruce
[10:48] {Threei} I would prefer pullback entrey
[10:48] {Threei} like now
[10:49] {Threei} stop is under .90 so better get it closer to support
[10:49] {esemde} rimm
[10:49] {esemde} opps....your on to it
[10:49] {dino} irbt l .65, stop .37
[10:49] {Threei} hard to tell if market rug pull is coming or we still have gas left
[10:50] {dino} magoo has gas left
[10:50] {magoo} HEYT
[10:51] {Threei} a bit more info than we ever care for... :)
[10:51] {bruce} too many chili dogs for him dino?
[10:51] {dino} lol
[10:53] {dino} itri stop to .78
[10:53] {Threei} not holding support RIMM
[10:54] {bruce} ntri dino
[10:54] {bruce} yes - see that vad
[10:54] {bruce} passing on it for now
[10:54] {dino} out itri slip .75, +.35
[10:56] {dino} i can't borrow it bruce, ntri
[10:56] {dino} don't like when they limit me to one way
[10:56] {magoo} grmn looks ready to go up..any read vad?
[10:57] {Threei} not sure mags, tough read
[10:58] {Threei} if holding above .70, try long .91
[10:58] {Threei} at least this is sensible structure
[10:59] {bruce} k dino
[11:00] {magoo} ok, but do not have to try it..if not good
[11:00] {Threei} yeah, it's pretty much 50/50 here
[11:01] {Threei} TMRK COLLABORATES WITH WITH CDC GAMES TO BREAK NEW GROUND IN ONLINE GAMES
[11:03] {Threei} ONXX small shares long .50 break if stays above .30
[11:04] {bruce} eqix possible reversalnear here dino
[11:05] {Threei} OHIO ATTY GEN: LOOKING AT POTENTIAL LAWSUIT V FNM OVER DISCLOSURE OF SUBPRIME HOLDINGS{FNM}
[11:05] {Threei} .60 breakdown worth a try short FNM
[11:05] {Threei} half lot
[11:06] {Threei} stop/invalidating level .81
[11:06] {dino} see if .50 holds
[11:07] {Chaeron} onxx
[11:07] {Threei} triggered
[11:08] {Threei} lose .50 and die FNM
[11:09] {Threei} trail stop to .71
[11:10] * Threei slaps Laserdave1 around a bit with a large trout
[11:10] * magoo slaps Laserdave1 around a bit with a large trout
[11:10] * Chaeron slaps Laserdave1 around a bit with a large trout
[11:10] {Threei} group support
[11:10] {Threei} for me
[11:10] {Threei} group therapy for dave
[11:11] {Threei} no worky FNM
[11:12] {magoo} man..not in..but look grmn..says it all about mkt
[11:12] {Threei} yeah, told you liked it short more
[11:12] {Laserdave1} howdy all
[11:12] {Threei} oh hi dave
[11:12] {magoo} hi dave
[11:12] {Chaeron} Dave!!!
[11:13] {Laserdave1} lol
[11:13] {esemde} dave!!!
[11:13] {Laserdave1} my fine friends
[11:14] {Threei} ok ONXX, it's time
[11:14] {Threei} move your heavy butt, will ya
[11:16] {Threei} GRMN SEES COMPETITION INCREASING IN 2008 - CONF CALL
[11:16] {magoo} thats it then
[11:17] {magoo} 74 highs pre mkt
[11:18] {Threei} ONXX over 1:1
[11:18] {Threei} out +.30
[11:18] {dino} eqix was a beauty bruce, i missed it, was waiting .82
[11:18] {magoo} nice vad
[11:19] {Threei} thank you magoo, you ever so kind to me... noone but you puts my name and nice in the same sentence
[11:19] {dino} out fslr 205.72, +1.60 sm
[11:20] {Threei} wow
[11:20] {Threei} wtg dino
[11:20] {dino} spnc l .92, stop .77
[11:20] {magoo} ONXX text book on why u layout ahead vad
[11:20] {dino} lucky, sm kept me in
[11:21] {Threei} on thinnies, yes
[11:21] {Threei} not always get bids to hit so better offer it out into spike
[11:21] {Threei} and use laser fast sell to get out if not taken at the offer
[11:22] {dino} onxx l .30
[11:22] {Threei} wow, beautiful entry
[11:24] {Threei} and a lot of patience... I would be out on that spike right after you grabbed it :)
[11:32] {magoo} the sell from hell grmn
[11:36] {dino} spnc stopped -.15
[11:39] {esemde} LONG full lot SOLF avg position .38
[11:40] {esemde} my appologies to those of you new to the board....positon or swing trdaing is not what this board is about....
[11:41] {Threei} but we like to salivate when ou post your exits
[11:41] {magoo} i just like slapping him
[11:41] {dino} es always breaking the rules
[11:41] {esemde} I did well with that position in SOLF that I had at 16.10.....partialed that out up to 18.00 and a bit....
[11:42] {esemde} we'll see how this works
[11:43] {esemde} hugely profitable company thats just having the crap... beat out of it....
[11:44] {esemde} keeping in mind of course that you should NEVER fight the bear going long
[11:44] {esemde} never know.....I might be in to early
[11:45] {magoo} if mkt goes down here vad..kinda like rimm short..amny read?
[11:47] {bruce} nvda looks like short
[11:48] {Threei} NVDA looks better short than RIMM
[11:56] {Threei} see how RIMM happily makes new highs while NVDA stays put?
[11:57] {magoo} yes..my read off on it
[12:01] {dino} ima
[12:02] {dino} l .02 sm
[12:03] {Threei} hawk, look dcc please
[12:04] {dino} spike mkt
[12:04] {Threei} out of nowhere
[12:04] {Threei} nothing on wires
[12:06] {magoo} qid long somewhere vad?
[12:07] {curtisweese} newbie in on aapl at 123.11
[12:08] {curtisweese} run aapl run!!!!1
[12:08] {Threei} mags, I can't tell
[12:08] {Threei} something is happening
[12:09] {Threei} or it's nothing
[12:09] {Threei} we just don't know, while the influence is fairly sizeable
[12:09] {curtisweese} omg....please tell me the bulls have come home.....
[12:09] {curtisweese} here bully bully
[12:10] {Threei} lol curtis
[12:11] {curtisweese} get off your butt aapl and get me back in the black! :(
[12:12] {Threei} market looks like another spike coming curtis
[12:12] {Threei} should help if materializes
[12:13] {curtisweese} aapl breaks 123.30 or so and should get some nice gains
[12:13] {curtisweese} here it goes....come on! i'm WILLING you go up now.....hahahah
[12:14] {Threei} here is spike I told market to do for you
[12:14] {Threei} here is AAPL following
[12:14] {Threei} I'll shut up and you make the best out of it
[12:15] {Chaeron} KNSY - RECEIVES FDA 510(K) CLEARANCE FOR NEW SAFE-CROSS(R) VESSEL WALL DETECTION TECHNOLOGY
[12:15] {dino} dji green
[12:18] {Threei} tell me you are out curtis
[12:18] {curtisweese} yes out at 123.56 up $.45 with 700 shares
[12:18] {curtisweese} yay
[12:19] {Threei} trading is breathing... inhale-exhale
[12:19] {Threei} or you choke
[12:19] {Threei} now, allow me to quote one exchange from this morning
[12:19] {Threei} [09:10] {curtisweese} it going to be ugly today?
[12:19] {Threei} [09:11] {Threei} it's ugly already
[12:19] {Threei} [09:11] {Threei} what happens next... let's refrain from forecasts, not many of those materialized lately
[12:19] {Threei} how about that
[12:19] {dino} hmmmm
[12:19] {dino} yoda
[12:20] {curtisweese} yes....i just waited patiently till aapl was at resistance and bought when it barely broke it....worked!
[12:20] {Threei} who missed it in the morning, psychology series continued:
[12:20] {Threei} http://www.realitytrader.com/blog/2008/02/trading-psychology-stage-2.html
[12:21] {dino} out ima .88, +.86
[12:22] {Threei} we have fed minutes today
[12:22] {Threei} maybe they leak content? :)
[12:24] {dino} maybe they say nothing
[12:24] {Threei} can we get that lucky?
[12:25] {esemde} NVDA....nice!!!!!
[12:26] {esemde} whose in that?
[12:27] {curtisweese} ese you long on it?
[12:27] {esemde} no...long SOLF just watching NVDA
[12:29] {bruce} any read grmn vad?
[12:29] {bruce} tricky stock
[12:34] {Threei} hmmm
[12:34] {Threei} no... sorry
[12:35] {curtisweese} nvda looks yummy if it pulls back and hold 21.70ish (at least to my newb eyes)
[12:36] {esemde} have a great rest of the day all....i'm otta here.....
[12:36] * magoo slaps esemde around a bit with a large trout
[12:36] {esemde} ouch!!!!!
[12:40] {bruce} bye ese -thanx vad
[12:48] {bruce} fnm long?
[12:51] {curtisweese} in on NVDA at 21.70 (i'm a newbie...be careful!)
[12:56] {bruce} s fnm .44 stop .60
[12:57] {Threei} stop under .60 curtis
[12:59] {hawkfan4} COIN daily starting to look interesting, tricky one
[13:01] {Threei} why did I ever trailed that FFIV stop?
[13:03] {Threei} looks like another NASDAQ run at the high in cards
[13:04] {Threei} after that it becomes too close to fed minutes
[13:05] {Threei} here we go
[13:05] {bruce} stopped fnm
[13:05] {Threei} my crystal ball is freshly polished, can you tell?
[13:05] {Chaeron} mine's still in the shop
[13:05] {Threei} sure, I paid them to keep all others
[13:05] {Chaeron} never worked right in the first place :)
[13:06] {curtisweese} out on NVDA +$.08 with 3000 shares
[13:07] {curtisweese} scalp cuz i'm scared of fed
[13:07] {curtisweese} and market
[13:07] {curtisweese} and losing money sometimes
[13:08] * Threei slaps curtis around a bit with a roll of bills for indecent profits
[13:09] {curtisweese} okay, i have to go to my normal job...sigh...no fun...bye everyone
[13:09] {Threei} take care curtis
[13:09] {dino} sm l grmn .20, risky
[13:09] {Threei} good job
[13:09] {curtisweese} i only made abouot $400 today but that works for me!! :)
[13:10] {Threei} well, tell me
[13:10] {Threei} do you make it in a day on your "normal job"?
[13:10] {Chaeron} 22 trading days in a month.... times $400....
[13:10] {curtisweese} lol...yeah....more, but not any fun
[13:10] {Chaeron} hmmm...$105,000 per year
[13:10] {dino} gj curt
[13:12] {Chaeron} TEAMSTERS TO ENDORSE BARAK OBAMA FOR THE DEMOCRATIC PRESIDENTIAL NOMINATION - UNION OFFICIAL
[13:13] {dino} grmn stopped
[13:13] {Threei} GRMN brutal
[13:14] {Threei} again... so much for "like the product, buy the stock" theory
[13:15] {dino} strange thing they beat by .20 and guided up
[13:16] {Threei} so much for "good news - up" theory
[13:16] {Chaeron} lol
[13:17] {Threei} anyone got any more theories for me to detsroy? :)
[13:17] {Chaeron} E=mc2?
[13:17] {Threei} this one I still have to work on... but gravity isa certain hoax
[13:17] {dino} when is a door not a door?
[13:18] {Chaeron} gravity is just a fad
[13:18] {dino} when it's ajar
[13:18] {Chaeron} :) nice dino...
[13:19] {dino} :)
[13:19] {cosmo} if it wasn't for gravity, we wouldn't be here...
[13:19] {Chaeron} how can you not love this place... $$$, jokes and philosophy
[13:19] {dino} are we?
[13:20] {bruce} go havea bologna sandwich dino
[13:20] {Threei} couple nails replace gravity cosmo
[13:21] {cosmo} better make them screws...
[13:21] {dino} lol, chilli dods today, no roll
[13:21] {Threei} or superglue
[13:21] {dino} -14 lbs.
[13:22] {dino} dogs
[13:22] {cosmo} superglue for the dowels
[13:22] {bruce} the chili dog diet
[13:22] {bruce} I bet it would be a best seller dino
[13:23] {dino} chicken wings yesterday, peperoni/cheese day before. you can follow this
[13:24] {bruce} I can see its all lo cal stuff
[13:24] {bruce} you got a winning diet on yourhands their dino
[13:24] {dino} its all about the carbs for me
[13:24] {bruce} small pop in alxn dino
[13:25] {bruce} mya be a long here
[13:26] {dino} i like it, but where?
[13:29] {bruce} not sure -
[13:30] {bruce} .50 seems to be holding
[13:30] {Threei} and we are dropping now why?
[13:30] {Threei} totally bipolar market, lol
[13:31] {Threei} we did great today considering the wierdest market
[13:33] {Threei} FED'S POOLE: US ECONOMY WILL SKIRT RECESSION, INFLATION EXPECTATIONS GENERALLY STABLE, FED POLICY SHOULDN'T FOCUS ON JUST ONE ISSUE
- Food, energy may be setting inflation expectations.
[13:33] {Threei} - Excessive stimulus may be counter-productive.
[13:33] {Threei} - Inflation harder to reverse than unemployment.
[13:33] {Threei} - Must be careful not to accomodate increased inflation.
[13:33] {Threei} - A substantial increase in inflation would promise a larger recession later.
[13:34] {Threei} these comments signal nearing end of rate cuts if this is feds point of view
[13:36] {Threei} PREVIEW: MINUTES OF THE JAN 30 FOMC MEETING TO BE RELEASED AT 2PMET
**today's minutes are expected to include sections from the Jan 30th meeting as well as the Jan 21st emergency conference call and a discussion of the Fed's expanded quarterly economic forecasts.
[13:36] {Threei} **reminder: at the Jan 30th meeting, the FOMC cut the target rate 50 bps to 3.00%, and stated:
[13:36] {dino} .50 more coming in march imo, the banks are too big to fail
[13:36] {Threei} - Sees continued downside risks .
[13:36] {Threei} - Credit tightened further for business and households, sees "deepening contraction" in housing market slump, with softening in labor markets.
[13:36] {Threei} - Financial markets remain under considerable stress, Fed notes will act in timely manner as needed to address economic risks, and rate cut should promote moderate growth, yet risks remain.
[13:36] {Threei} - Fed expects inflation to moderate in coming quarters.
[13:36] {Threei} - Vote 9-1 for Target Rate cut (Fisher dissented, preferred rates unchanged); Discou
[13:36] {Threei} Discount Rate cut 50bps, decision was unanimous.
[13:37] {Threei} feels this way dino... aftre that anyone's guess
[13:37] {Threei} inflation becomes real concern
[13:38] {cosmo} solomon's treasure is still good collateral
[13:38] {Threei} but famine is coming
[13:38] {Threei} at least we were told so yesterday
[13:39] {dino} of course, if they re-inflate, takes care of debt issues, i.e. what we owe is less
[13:39] {cosmo} is that something they spray?
[13:40] {cosmo} from planes?
[13:40] {dino} drop from planes
[13:40] {cosmo} gotcha
[13:40] {bruce} nice uptrend in vz tofay
[13:47] {Threei} TIVO floats to the surface
[13:48] {Threei} interesting resistance to break at 9
[13:48] {Threei} worth keeping eye on
[13:50] {Chaeron} 10 min to Fed
[13:56] {Threei} 5
[14:00] {Threei} *JAN 30 FOMC MINUTES: SAW NEED FOR RELATIVELY LOW INTEREST FOR A TIME
[14:01] {Threei} - Raises 2008 jobless forecast to 5.2-5.3% v 4.89% previous,
[14:01] {Threei} - GDP growth at 1.3-2%
[14:01] {Threei} - Fed official ssee growth risk to the downside
[14:01] {Threei} - Expects core inflation to moderate over the next 2 years
[14:04] {Threei} - recent inflation data 'disappointing'
[14:04] {Threei} - Saw chance of big rate cuts on Jan meeting conference call, but no taken action, Jan 22 rate cut spurred by weak economy, market strains
[14:05] {Threei} market says "and?"
[14:08] {Threei} PCLN dino
[14:10] {Threei} interesting... don't think I often seen market rfemaining so indifferent to minutes
[14:13] {patience} yesterday was my best day in february. today sitting in cash. need the market to figure out what the fed minutes mean.
[14:15] {Threei} market is like "I can't... I'll wait for them to figure out what they mean"
[14:16] {Threei} I want top short QID badly
[14:16] {Threei} top = to
[14:16] {Threei} market feels to me like shrugging off all the nonsense and just going up again
[14:17] {_fastchocho} i want to long the QID
[14:17] {Threei} cool, we will be hedged
[14:18] {dino} pcln too strong
[14:19] {_fastchocho} whats your target on PCLN ? 140?
[14:20] {Threei} ?
[14:20] {Threei} we don't have any p;osition in it
[14:20] {_fastchocho} OK
[14:20] {_fastchocho} Did anyone short GRMN?
[14:21] {hawkfan4} no, but i can show you the scars from trying to catch it
[14:26] {bruce} grmn is a pos - just when you think you can read it works you over
[14:29] {dino} indeed wise bruce, indeed
[14:30] {dino} 63 held last drop
[14:30] {magoo} on grmn..can u imagine in it long from pre mkt 74
[14:30] {lumdus} in rio 34.71 long
[14:31] {dino} but a scratch magoo, i've had worse
[14:31] {bruce} out aci +.30
[14:31] {Threei} FED'S POOLE: IMPOSSIBLE TO FORECAST EXCHANGE RATES, WEAK USD HELPING TRADE SURPLUS AND EXPORTS - Q&A- Does not use policy to influence currency outcome
[14:31] {hawkfan4} GRMN nasty today, but back in .39, last try
[14:32] {bruce} you got guts hawk
[14:33] {bruce} its lokks like it's going long now - so mms will probably duymp it here
[14:33] {dino} long or short hawk
[14:33] {hawkfan4} long
[14:33] {dino} ok
[14:33] {hawkfan4} :)
[14:33] {dino} nice entry
[14:33] {hawkfan4} have this mad idea of a full recovery
[14:34] {Threei} covering QID here from .60
[14:35] {dino} alxn l .61
[14:36] {dino} and i think i'm in kansas
[14:37] {dino} chilli dog burp, whew
[14:38] {lumdus} stop on rio 34.55
[14:41] {dino} alxn lum? at .48
[14:42] {dino} opps rio, sorry
[14:43] {dino} ima l .65
[14:45] {lumdus} watching pten break 24.00
[14:47] {lumdus} stop on rio 34.64
[14:49] {lumdus} in pten 24.01
[14:50] {Threei} look at QID
[14:50] {dino} out alxn .90, +.29
[14:50] {magoo} u gonna hit qid vad?
[14:51] {Threei} didn't think of it from bounce point of view
[14:51] {Threei} felt market was to go up, shorted it earlier
[14:51] {Threei} covered too soon (what else is new)
[14:52] {magoo} :)
[14:52] {Threei} [14:16] {Threei} market feels to me like shrugging off all the nonsense and just going up again
[14:53] {dino} 220+range
[14:53] {lumdus} stop on rio 34.89
[14:53] {lumdus} need to lock somehting in.
[14:53] {lumdus} out rio 34.89 + .18
[14:54] {dino} out ima .80, +.15
[14:55] {lumdus} pten stop 24.03 have no patience ..
[14:56] {dino} taking 15 min. break
[14:57] {bruce} any read stp vade?
[14:58] {lumdus} ou tpten flaat
[14:59] {lumdus} short rimm 97.35 stop 97.51
[14:59] {Threei} not really bruce
[14:59] {Threei} too volatile
[14:59] {bruce} k thnx
[15:00] {lumdus} rimm just looks out of steam.. who knows
[15:00] {Threei} lum, keep it in context of overall market move
[15:00] {Threei} if NASDAQ resumes upward so will RIMM
[15:01] {lumdus} yes, i am ..
[15:01] {lumdus} stop on rimm 97.35 break even
[15:01] {lumdus} tried to get out .18 no workie
[15:01] {_fastchocho} Whats causing this rally? Pooles rmark of unlikely recession?
[15:02] {_fastchocho} DOW up120?
[15:02] {lumdus} fast, it's not me buying :)
[15:02] {cosmo} inflation adjustment
[15:02] {lumdus} out rimm - .01
[15:03] {bruce} patience is buying the4 market fast
[15:03] {Threei} fast, just wait till tomorrow... market columnists that never made a dime trading will find explanation
[15:03] {patience} laughing, nope. i will wait before putting money to work
[15:03] {lumdus} easy to write those columns,
[15:04] {Threei} after the fact, sure
[15:04] {cosmo} HPQ up 8%
[15:04] {bruce} the media has correctly predicted 30 of the last 6 recessions vad
[15:04] {Threei} for us as traders it's just irrelevcant
[15:04] {Threei} lol bruce
[15:04] {patience} just scalping gold and silver, turning back to china stocks
[15:04] {Threei} "trade what you see, not what you think"
[15:04] {Threei} who said that?
[15:04] {cosmo} master po?
[15:05] {lumdus} i see rimm going back below 96.00 just a feeling here.
[15:08] {bruce} thats right grasshopper - I mean cosmo
[15:11] {dino} farley
[15:11] {dino} ?
[15:12] {bruce} sheesh - onxx watching it but missed the pop
[15:12] {Threei} F grade to both
[15:13] {magoo} vad, long rimm or aapl?
[15:13] {dino} vad throwing the f bomb again
[15:13] {bruce} f is for fantastik
[15:15] {Threei} not here mags
[15:15] {Threei} if you believed in upward, time was when I first posted it
[15:17] {dino} hurn fast drop
[15:19] {bruce} alxn long here dino?
[15:20] {magoo} thought powerup into bellvad
[15:20] {magoo} bel vad
[15:21] {Threei} could be, can't tell yet
[15:21] {Threei} watching
[15:21] {dino} hmmm dk bruce not really moving
[15:21] {magoo} rimm 98 magnate?
[15:21] {bruce} k - thought it might pop on break of .10
[15:21] {Threei} can you think of better illustration to the market's nature than today's action?
[15:22] {Threei} bad news piling on bad news, oil through 100... and market rallies
[15:22] {dino} oil is the only thing keeping this market up
[15:23] {patience} and ag and gold/silver
[15:23] {dino} which are up because oil is up
[15:24] {patience} gold yes, ag, don't think so
[15:24] {dino} gold cause weak dollar
[15:24] {dino} sure, crn=ethanol, = deer= cart etc
[15:24] {dino} cat
[15:25] {patience} i'm looking for timing to short ethanol stocks dino. someone in usda is going to say we need food more than ethanol
[15:26] {dino} ethanol isn't the best way, imo. you will be right
[15:26] {patience} i will be right if i trade it properly lol
[15:27] {dino} lol
[15:27] {dino} i have faith in your abilities
[15:27] {Threei} COIN
[15:27] {Threei} sheesh
[15:28] {Threei} FED'S POOLE: RATES MAY HAVE TO GO LOWER BEFORE RISING, MUST WATCH INFLATION, NOT ALARMED BY LATEST NUMBERS - Q&A
- Notes inflation is creeping in wrong direction, rates may eventually be above 3%, current situation not a major crisis as recession fears must be balanced vs inflation. Must deal with inflation risks before inflation arrives
[15:28] {Threei} - Notes the need to replace the subprime mortgage market
[15:28] {Threei} - Says markets are healing somewhat after financial stress, LIBOR spreads have narrowed
[15:29] {dino} neog
[15:31] {lumdus} nice reversal
[15:34] {dino} hurn
[15:35] {_fastchocho} anyone playinh mgm in the morning?
[15:35] {dino} dgly
[15:36] {dino} l .66
[15:36] {Threei} why MGM?
[15:38] {_fastchocho} straddle play
[15:39] {Threei} we are simpletons, fast
[15:39] {Threei} we see setup on the chart - we play it
[15:40] {Threei} underlying reasons for price change is for analysts to figure out after the fact
[15:40] {Threei} we are happy with profits today and their explanations tomorrow
[15:40] {lumdus} short amzn 73.37 stop 73.58
[15:40] {lumdus} pure gamble to see if we go down at eod.
[15:41] {patience} just to keep fast company, if you're looking for a spec ag play, look at ALM (Anglo Minterals)
[15:41] {_fastchocho} imma newbie threei so bear with me
[15:41] {patience} Potash play in Saskatchewan. About 6 or 7 juniors bought up land that wasn't owned by Mosaic (MOS-N) and Potash (POT-T). This stock has good upside. One of the best ways to play potash. BHP Billiton (BHP-N) is the partner and has 75% of the project, which means there are deep pockets for them
[15:41] {Threei} nah, nothing to bear with... just explaining our approach :)
[15:42] {dino} out dgly .85, +.19
[15:42] {lumdus} yeah, tommorrow i write up how much money i could've made ..
[15:42] {_fastchocho} ok...neways mgm is an earnings play
[15:43] {lumdus} amzn stop move to 73.54
[15:43] {lumdus} die market (with amzn) die !
[15:44] {Threei} stop above .50 lum?
[15:44] {lumdus} .54 right now
[15:45] {_fastchocho} cec is also an earnings play...lookshort
[15:45] {lumdus} vad, what nice drop and i am out.. need to get it to go already.
[15:46] {Threei} it's trying lum
[15:46] {lumdus} yeah, but it needs some help. can we start hitting it.
[15:47] {lumdus} stop now .48 .. it's not looking good yet
[15:47] * Threei hits NQ over the head with 2x4 for lum
[15:48] {lumdus} just hit amzn .. i don't care if everybody else makes money long
[15:48] {Threei} hmmm... violence doesn't help
[15:49] {patience} wait until 3:45 pm vad
[15:49] {Threei} chart is downtrending though
[15:49] {_fastchocho} umm its 3:49
[15:49] {_fastchocho} pm
[15:49] {Threei} 4 minutes? I can wait that long
[15:49] {Threei} lol fast
[15:49] {Threei} really
[15:49] {Threei} are we in a time warp?
[15:50] {patience} i am....completely forgot to look at clock....busy busy day so far
[15:50] {dino} y
[15:51] {dino} i'm beat, good one tho
[15:51] {lumdus} out -.11 crap amzn
[15:51] {lumdus} have a nice evening
[15:51] {Threei} sorry lum, who knew it would go berserk
[15:51] {lumdus} not me..
[15:51] {Threei} but you defined this trade as pure speculation from the get-go
[15:53] {Threei} COIN... shoot me someone
[15:54] {patience} i need money quick...going for retail therapy at Bellevue Malls in Washington State on friday. Let's hope tomorrow is a good market day.
[15:55] {dino} _fastchocho, earnings list at yahoo....biz.yahoo.com/research/earncal/today
[15:57] {_fastchocho} it says no longer available
[15:57] {Threei} OK guys, thank you all, that was nice day
[15:57] {_fastchocho} dino
[15:57] {Threei} almost every trade worked
[15:57] {dino} i get it
[15:57] {dino} every day
[15:57] {Threei} have a good evening, see you tomorrow
[15:57] {hawkfan4} here's a good earnings date source http://moneycentral.msn.com/investor/market/earncalendar/
[15:58] {dino} http://biz.yahoo.com/research/earncal/today.html
[15:59] {_fastchocho} ok dino got it now
[15:59] {dino} may find it helpful
[15:59] {dino} especially afterhours
[15:59] {dino} ima drop
[15:59] {dino} spike
[16:01] {dino} itri
[16:07] {dino} nvtl drop, vrgy drop