Monday, March 17, 2008

Mar 17 2008

Session Time: Mon Mar 17 00:00:00 2008

[08:30] {Threei} *Q4 CURRENT ACCOUNT BALANCE: -172.9B$ V -$183.8BE
- Prior revised from -$178.5B to -177.4B$
[08:31] {Threei} MAR EMPIRE MANUFACTURING: -22.2 V -7.4E (LOWEST SINCE JULY 2001)
[08:32] {lumdus} good morning vad. woke up early today, wanted to see bsc. damm, the poor folks. i assume today we end down +500 Point in the dow
[08:32] {Threei} hi lum
[08:32] {Threei} this is stunning
[08:32] {Threei} I sincerely hope no one I know held BSC
[08:32] {Threei} look ar LEH and MER
[08:33] {lumdus} yes, i see all the banks. c, jpm etc.. all in the toilet , flushing
[08:33] {Threei} JPM is actually strangely strong
[08:34] {Threei} and what business does BSC have trading above 3 while being bought for 2... new form of denial among traders?
[08:35] {lumdus} i wont be here for the open. have to run an erand. should be back before 10
[08:35] {lumdus} right i am wondering that also.
[08:35] {lumdus} Vad, first if the shareholders don't agree to 2.00 then there is no deal.
[08:35] {Threei} their alternative is bankruptsy
[08:36] {Threei} good luck disagreeing
[08:36] {lumdus} vad, not me. i have no shares in any bank at all.
[08:36] {lumdus} you know where my money is now
[08:44] {magoo} morniung
[08:44] {Threei} hi mags
[08:45] {lumdus} vad, is today the worst day that you remember pre-market ?
[08:45] {magoo} vad, can u imagine buying andf holding BSC premkt friday at 65??
[08:46] {Threei} gives me creeps magoo
[08:46] {cosmo} TSATA was worse imho
[08:46] {Threei} I guess so lum... my long term memory is not so good though
[08:46] {Threei} (not that my short term memory is much better)
[08:47] {Threei} and magoo... stay assured that every time you express remorse about not holding something overnight I will remind you about BSC :)
[08:48] {Threei} IVAN
[08:49] {Threei} HTL?
[08:50] {Threei} have a look at this piece of news just a week ago:
[08:50] {Threei} NEW YORK – New York – March 10, 2008 — The Bear Stearns Companies Inc. today denied market rumors regarding the firm's liquidity. The company stated that there is absolutely no truth to the rumors of liquidity problems that circulated today in the market.
[08:50] {Threei} Alan Schwartz, President and CEO of The Bear Stearns Companies Inc., said, "Bear Stearns' balance sheet, liquidity and capital remain strong."
[08:51] {cosmo} strong smell, maybe
[08:52] {magoo} he probably will be investigated for fraud vad, and yeah, i never ever ho.d anything overnite
[08:52] {cosmo} SLV off 2% fyi
[09:01] {cosmo} ARNA, CRME
[09:02] {dptl} good morning all
[09:02] {Threei} dp :)
[09:04] {dino} gm all
[09:04] {Threei} dino :)
[09:04] {Threei} LEH
[09:05] {cosmo} is Stable better?
[09:05] {Threei} no such word today
[09:05] {GeoArb} gm all
[09:05] {Threei} Geo :)
[09:05] {Threei} vocabulary today is limited to:
[09:06] {Threei} bad
[09:06] {Threei} worse
[09:06] {Threei} worst
[09:06] {GeoArb} so are we trading with our depends on today?
[09:06] {cosmo} good,
[09:06] {Threei} for creative minds, badder
[09:06] {Threei} LEH is dumping
[09:07] {Threei} MER will follow the suit I guess
[09:08] {dino} no depends guys, today should be fun, be patient
[09:09] {Threei} one thing I want you to do before market opens guys,
[09:09] {Threei} read this:
[09:09] {Threei}
[09:11] {bruce} stable is a downgrade cosmo
[09:12] {cosmo} k
[09:12] {magoo} won't open vad for me or dino
[09:12] {Threei} try
[09:13] {magoo} nope, that either
[09:13] {GeoArb} interesting
[09:13] {GeoArb} i read it
[09:15] {esemde} good morning....conecting automatically....this is a good thing
[09:16] {Threei} ese :)
[09:16] {Threei} can you reach homepage magoo?
[09:16] {Threei} with or without www
[09:18] {Threei} anyone else?
[09:20] {Threei} wake up guys, can you reach that address?
[09:20] {dptl} i can
[09:20] {tomg} i can
[09:20] {dptl} no prob
[09:20] {patience} works great
[09:21] {Threei} ty
[09:22] {esemde} just got it Vad
[09:22] {Threei} :)
[09:22] {magoo} i cant vad
[09:23] {magoo} plus, it crashed my system
[09:23] {Threei} huh?
[09:23] {magoo} i had to reboot, just getting back up
[09:23] {cosmo} it comes up on Netscape just fine
[09:24] {lumdus} nice article vad
[09:24] {lumdus} so why is leh going down also ?
[09:24] {Threei} gosh
[09:24] {Threei} what isn't
[09:24] {ThurstonHowellTheThird} gm all
[09:25] {dino} no 3i
[09:26] {dino} .
[09:26] {Threei} hi thtt
[09:27] {Threei} something on the side of your and magoo ISP then dino... but if it's a dns issue, then address without www should word
[09:28] {magoo} ill have to leave it alone for now, do not want system freeze here at open
[09:28] {Threei} yes mags
[09:28] {Threei} stay calm and patient guys
[09:29] {Threei} do not jump intho the mess we are about to see right away
[09:29] {Threei} let the dust settle down, safety is major consideration on the day like this
[09:29] {lumdus} ok
[09:29] {dino} .
[09:29] {esemde} good post Vad...i'll heed that stay and patient stuff......
[09:29] {bruce} except dino ofcourse
[09:29] {lumdus} just put order for bsc @ 1.00 and you be fine :)
[09:29] {bruce} and lum
[09:30] {Threei} ty ese
[09:30] {cosmo} ARNA tests @ 7 needs to hold 6.85 imo
[09:30] {Threei} BSC daily looks surreal
[09:30] {dino} ?bruce
[09:31] {bruce} joking dino - about letting dust settle
[09:32] {dino} ahh
[09:32] {magoo} leh didn't recover much w/that qqq spike
[09:33] {dino} watchoing de, cat, fwlt
[09:33] {lumdus} suprised the dji only down 180
[09:34] {magoo} ewell...its early
[09:36] {magoo} WOW..LEH big bounce now vad
[09:37] {lumdus} why in the world would bsc bee at 3.70 ? didn't everybody read the news today ?
[09:37] {Threei} mystery to me too lum
[09:38] {GeoArb} overnight short covering?
[09:38] {lumdus} maybe the delievery boy didn't give everybody the paper yet.
[09:38] {Raven} 3 because the BSC employees own a substantial portion of ther stock and they can prolly kill the deal
[09:38] {cosmo} ARNA tests @ 7 fwiw
[09:38] {Raven} 3 so BSC will be shopped around for a higher price
[09:39] {Raven} 3 and there are other interested buyers
[09:39] {magoo} vads ignoring me ..sigh
[09:40] {Threei} 7 worth a try on ARNA
[09:40] {dino} and if i were short i'd be covering anyway
[09:40] {Threei} stop under .80
[09:43] {magoo} in btw
[09:43] {bruce} resistnace near .20 vad
[09:44] {Threei} scalpers can keep stop .89
[09:44] {magoo} 7.06 inet huge
[09:44] {magoo} and gone he he
[09:45] {Threei} woohhooo:
[09:45] {Threei} PRES BUSH: SUPPORTS FED ACTIONS TO BRING ORDER TO FINANCIAL MARKETS, GOVT WILL ACT WHEN NECESSARY- Says US capital markets are functioning 'efficiently'
[09:45] {curtisweese} OMG....YESSSSS
[09:45] {dino} atta boy "w"
[09:45] {magoo} thats "dubya" dino
[09:46] {curtisweese} i shorted 1000 shares of RIMM on Friday at close at 103.62 and just covered at 97.32!!!!
[09:46] {dino} you are suicidal
[09:46] {curtisweese} SOOOO risky
[09:46] {lumdus} the pres candidates better just start explaining how they expect to recover this economy
[09:46] {curtisweese} i did it and then tried to cancel it and it was too late, they had executed it already...i was soooo scared
[09:47] {dino} re-liquify curtis, and then another bubble somewhere
[09:47] {dino} they have already started
[09:47] {Threei} jeez curtis
[09:47] {curtisweese} i'm out now...i have work stuff this morning, so no trading for me
[09:47] {curtisweese} omg...that is a huge relief
[09:48] {magoo} curtis..just look at BSC and see what could happen
[09:48] {curtisweese} well i did short it....LOL
[09:48] {bruce} some support at .95 vad ok tpo move stop near there?
[09:48] {Threei} LEH long small here
[09:48] {Threei} stop under 32
[09:49] {Threei} in
[09:49] {curtisweese} i will be back tomorrow.....every market down and now us.....we might have a great day if things happen the way they have been!
[09:49] {Threei} I guess bruce
[09:50] {lumdus} leh ran
[09:50] {Threei} out LEH
[09:50] {Threei} +.37 I think
[09:51] {magoo} still trying to get out
[09:51] {Threei} I took .50 exit
[09:51] {lumdus} in gg 46.20 stop 46.04
[09:51] {magoo} i was at .65
[09:52] {Threei} greedy greedy
[09:52] {dino} l fwlt .95, stop .69
[09:53] {dino} stopped -.24
[09:56] {bruce} stopped arna
[09:57] {lumdus} l wye 39.89 stop 39.66
[10:00] {magoo} sheesh..stopped arena too
[10:00] {Chaeron} hi all
[10:00] {lumdus} jpm running
[10:00] {Threei} hi chaeron
[10:01] {dino} aet l .25, stop .97
[10:02] {Threei} morning maryaliceann, you made it
[10:02] {lumdus} out jpm + .48
[10:03] {dino} gj
[10:03] {maryaliceann} at last! .. thanks
[10:03] {Chaeron} nice lum... welcome maa
[10:04] {maryaliceann} that sounds good, should change lum to maa
[10:04] {dino} welcome to the jungle maa
[10:05] {Threei} so, why is JPM so happy
[10:05] {dino} short squeeze
[10:05] {lumdus} vad, i am not an anlysts, it showed up on my scanner so i went for it :)
[10:06] {dino} citigroup is next collapse, imo
[10:06] {Threei} MER .35 long small
[10:06] {lumdus} 2:1 on wye. I am still not selling yet
[10:06] {Threei} stop under 39
[10:07] {lumdus} dino, why you think citigroup next ?
[10:07] {dino} they are in a word of sh*t
[10:08] {_pit} any base in ARNA yet?
[10:08] {Threei} MER stop to .09
[10:08] {Threei} nah pit, forget it
[10:10] {Threei} did I get too greedy on MER?
[10:11] {GeoArb} i am out for 20 cents mer
[10:11] {GeoArb} .55
[10:11] {Threei} wtg
[10:12] {GeoArb} trying to erase arna
[10:12] {dino} strange dji only -56
[10:12] {Threei} scalper to the bone marrow eh
[10:12] {GeoArb} heh
[10:12] {Threei} and NQ is down just 20 points dino
[10:12] {Threei} no end of the world today?
[10:12] {Threei} or it's early? :)
[10:13] {Chaeron} shucks and I got all dressed up for it too...
[10:14] {dino} fwlt sm .00 trig. l wider
[10:14] {dino} me too chaer, wore green
[10:16] {dino} no trig cx fwlt
[10:17] {dino} out aet .56, +.31
[10:18] {bruce} nice dino
[10:20] {magoo} any read RIMM vad?
[10:20] {Threei} I am getting it just in time to missd the chance to type a call magoo
[10:20] {Threei} did that twice already
[10:20] {Threei} finally
[10:20] {Threei} out half MER at .70
[10:21] {Threei} +.35
[10:21] {Threei} stop to .25 for the balance
[10:23] {lumdus} bsc rebound sheesh.
[10:23] {Threei} lol
[10:23] {lumdus} way too funny, just watch it.
[10:24] {dino} fwlt l .00
[10:24] {Threei} out MER in full
[10:25] {Threei} + a lot
[10:25] {Threei} forgive me for being too lazy to calculate
[10:26] {dino} csx l .35
[10:26] {Chaeron} :)
[10:27] {dino} going to go green
[10:27] {dino} for st. pat's i guess
[10:27] {Threei} MER up a buck from alert
[10:28] {Threei} can I have a mulligan?
[10:28] {judi} Hi from Jim and Judi
[10:28] {Threei} hi judi
[10:28] {Threei} I mean buck and 30 cents
[10:29] {Threei} I mean... ah forget it
[10:29] {GeoArb} drys
[10:29] {lumdus} jpm up 4.00
[10:29] {bruce} apol dino
[10:31] {Threei} BSC is not from this universe
[10:32] {lumdus} vad, i would take a try with bsc. just worried they hald trading maybe.
[10:32] {dino} watching it bruce
[10:32] {Threei} I don't have any comments on it lum, this is beyond my understanding at all
[10:33] {Threei} it's bought out for pete's sake
[10:33] {dino} fwlt stop to .98
[10:33] {Threei} Raven explained earlier what influences this wierd divergence between price of buyout and price it's trading at
[10:33] {dino} stopped -.02
[10:33] {Threei} but it makes whole thing absolutely unreadable
[10:37] {bruce} add mf to watch list dino
[10:37] {dino} ok
[10:38] {dino} btw bruce, i hit gfig 2x's friday and made money, thx for the spot on it
[10:38] {bruce} good to hear - glad it worked for you dino
[10:40] {dino} mf, capital markets, lawsuits, big losses, careful w/it
[10:40] {Threei} heh... QLTI FDA news, didn't want to go in it out of concern that it';s not a time for a cheapies to move
[10:40] {Threei} look at it
[10:41] {GeoArb} yeah
[10:41] {GeoArb} a twinge of regret here
[10:41] {magoo} one crazy ass market
[10:41] {GeoArb} tinge
[10:41] {Threei} sure is mags
[10:41] {Threei} I am double careful today
[10:42] {dino} mkt confused
[10:42] {Threei} but so far things don't look as scary as they promised to be
[10:43] {Threei} in fact, market starts looking like going gren soon
[10:43] {magoo} cause it is green
[10:43] {bruce} apol looking strong now dino - we probably missed it - but if it retraces to 56 may be worth try
[10:43] {Threei} Dow yes
[10:43] {Threei} NASDAQ is in red still
[10:44] {lumdus} hmm, how wierd it is.
[10:44] {Threei} as far as common sense is concerned, these are trying times
[10:44] {bruce} trying mf long here
[10:44] {dino} thinking same, w/stop .74
[10:44] {Threei} thankfully, we traders are not overburdened with common sense
[10:45] {bruce} agree
[10:46] {bruce} in at 13.99
[10:46] {bruce} sold at .18 on spike
[10:46] {bruce} sheesh
[10:47] {bruce} dumb dumb dumb
[10:47] {dino} fortune favors the bold
[10:48] {dino} out csx .59, +.24
[10:48] {dino} way too soon
[10:49] {dino} fwlt l .90
[10:51] {Threei} RIMM 99.5 level to watch for bounce
[10:52] {lumdus} amzn long
[10:52] {dino} hod
[10:52] {bruce} ah mf retraced - feel better exit on spike rightthing to do after all
[10:52] {Threei} 67 break AMZN for me lum, if holding above .80
[10:55] {bruce} amzn is tricky - sets up long then dumps
[10:56] {Threei} hasn't set up, failed support
[10:57] {Threei} finger on the trigger RIMM
[10:57] {Threei} missed first dive into 99, maybe we get another leg down
[10:57] {Threei} couldn't find guts to short .50 breakdown
[11:01] {Threei} staying on a sideline for now
[11:01] {Threei} hectic moves up and down within narrow range
[11:02] {Threei} sure recipe for being stopped
[11:06] {lumdus} need to be quick today to make the pennies
[11:07] {Threei} AMZN, going to try long on .50 break if stays above .25
[11:08] {dino} apol bruce
[11:09] {dino} l .56 sm wide
[11:09] {bruce} hmm - lower low in it now
[11:10] {Chaeron} *sigh*
[11:10] {bruce} gonna wait a bit on apol dino
[11:10] {dino} thats why small
[11:13] {bruce} wow - mf just dumped another 2.50 dino
[11:13] {bruce} sorry - 2 bucks
[11:13] {dino} alxn
[11:13] {dino} not in, off screen, finanxcials are trucky right now
[11:14] {bruce} any read mf dino_ it's spiking
[11:15] {bruce} 3 buck drop now
[11:15] {dino} can't type today i see
[11:15] {dino} no
[11:15] {bruce} 3.50 drop
[11:17] {bruce} 4.50 drop
[11:18] {Threei} you saw MF news right?
[11:19] {dino} yes trading losses, class actions, etc
[11:19] {Threei} 03/04/08 09:11pm
[11:19] {Threei} [MF] MF Global Ltd. Facing wheat-futures trading probe by Federal law-enforcement officials - WSJ
[11:19] {Threei} - The probe will focus on trades by fired trader Evan Dooley that cost the firm about $141.5M.
[11:19] {dino} i'm staying away
[11:19] {bruce} 5.50 drop
[11:19] {bruce} good plan dino
[11:20] {Threei} capitulation
[11:20] {Chaeron} dang those rogue traders
[11:20] {dino} easier trades out there bruce
[11:20] {bruce} 6.50 drop and still gong
[11:21] {dino} get it off your screen, imo
[11:21] {bruce} jeez - going to 0 -
[11:21] {Chaeron} can't dino.. hypnotized here....
[11:21] {Threei} no kidding, it's mesmerizing
[11:22] {Threei} and good for you as it keeps you from trading at the moment
[11:24] {lumdus} leh short
[11:24] {dino} apol stopped
[11:25] {lumdus} out already +.35
[11:25] {lumdus} that was easy
[11:25] {dino} gj
[11:25] {lumdus} not really could have go way more
[11:26] {Threei} oh boy MF
[11:26] {bruce} maybe we should of .33 c in mf
[11:26] {bruce} bid rather
[11:27] {lumdus} bruce, good idea. let's chip in .. my check of .33 in the mail.
[11:27] {bruce} lol
[11:27] {Threei} you guys are too generous
[11:27] {Threei} I won't bid above .19
[11:27] {lumdus} volume increasing like heck on mf
[11:28] {bruce} starting to look like you're right on your bid vad
[11:28] {Threei} even 4 won't hold
[11:28] {lumdus} how low can it go .. :)
[11:28] {bruce} won't it be stopped on this kind of activity?
[11:29] {lumdus} bruce. i think it could be stopped. but who the heck knows.
[11:31] {dino} risky, sm l alxn .07, stop .53
[11:32] {Threei} news it out, so probably no reason for halt... but...
[11:33] {bruce} so much for safety in ags in times of turmoil
[11:33] {lumdus} aapl wondering if it could make a run
[11:33] {dino} fcsx ouch
[11:34] {dino} capital group again
[11:34] {dino} gfig ouch
[11:34] {dino} same deal
[11:35] {dino} shooting them all
[11:36] {bruce} any read on leh long here vad?
[11:37] {Threei} honestly bruce... any trade at the moment feels like crapsdhoot to me
[11:37] {bruce} k
[11:40] {dino} ibkr
[11:40] {bruce} mf finding support
[11:40] {bruce} aet looking like possible longto me here dino
[11:42] {dino} hmmm ibkr, seems odd they collapse w/other stuff
[11:43] {Threei} RIMM short
[11:43] {Threei} as close to .50 as possible
[11:44] {Threei} first weakness from here
[11:44] {magoo} i like it long..just opinion
[11:44] {Threei} stop above .60
[11:44] {dino} l sm ibksr .50, risky
[11:45] {dino} pnsn
[11:47] {Threei} stopped
[11:47] {Threei} magoo was right
[11:48] {Chaeron} seems like noone right in this slop
[11:52] {Threei} yeah, it's down again... magoo wasn't right {G}
[11:54] {GeoArb} .25 in rimm
[11:54] {GeoArb} held vad's call
[11:54] {GeoArb} thnks
[11:55] {Threei} welcome Geo... scary tohold when it goes against you
[11:55] {Threei} be careful
[11:55] {GeoArb} easy with 100 shares ;)
[11:55] {Threei} monetary wise yes,
[11:55] {Threei} but it's chart that should govern your action
[11:55] {GeoArb} true
[11:56] {Threei} paper trading or small shares trading must be done in the same fashion as you are goinfg tyo trade normal size
[11:56] {GeoArb} my stop was previous pivot high
[11:56] {GeoArb} maybe too wide
[11:56] {Threei} othrwise theere is no learning effect
[11:56] {Threei} if your stop was based differently, that's fine
[11:57] {Threei} as long as there was a reason for it
[11:57] {Threei} bigger time frame, next level of resistance
[11:57] {Threei} no problem with that, it's valid approach
[11:57] {GeoArb} will revaluate.... thanks
[11:57] {Threei} just not a "my position is small, I can try and hold"
[11:57] {GeoArb} ok
[11:57] {Threei} look at RIMM
[11:57] {Threei} grrr'
[12:03] {Threei} MF double bottom is in
[12:03] {Threei} scary as hell
[12:03] {Threei} no specific call guys
[12:03] {Threei} if you feel it, take small
[12:04] {Threei} if you feel you need a specific call, stay away
[12:05] {dino} de sm l .96
[12:08] {dino} fcsx
[12:19] {GeoArb} off to work
[12:19] {GeoArb} thanks all
[12:22] {Threei} take care Geo
[12:26] {bruce} stopped aet +.05c
[12:26] {dino} good stop
[12:27] {bruce} thanx dino - figured thats what you would do - make sure profit doesn't disappear completley
[12:28] {Threei} 97 break RIMM short
[12:29] {bruce} what you thinking for rimm stop vad?
[12:29] {bruce} .25 or so?
[12:29] {Threei} watching all these bounces before setup to see where the best resistance is
[12:29] {bruce} k
[12:29] {Threei} so far yes, .25
[12:30] {Threei} NQ hasn't decided to break down or not yet
[12:30] {Threei} so hesitates RIMM
[12:31] {dino} fcsx
[12:31] {bruce} fwlt - bounce time dino?
[12:31] {dino} brb
[12:32] {dino} if it hoilds .75]
[12:36] {bruce} s rimm
[12:37] {Chaeron} stopped rimm
[12:37] {bruce} stooped rimm-.30
[12:41] {Threei} not much is working today so far
[12:44] {bruce} double bottome de here dino
[12:45] {dino} y
[12:46] {Threei} if you went for MF, feel free to take profit
[12:46] {dino} risky sm, l fmcn .40
[12:50] {bruce} nice one fmcn dno - dont see where you got .40 trigger but sure worked
[12:51] {dino} was waiting for about 20 minutes, one of those, thought it would not get there things
[12:51] {dino} trades strangly
[12:52] {bruce} k- nice job of catching reversal point
[12:52] {bruce} de looking long here
[12:52] {dino} y
[12:56] {bruce} fwlt looks long too
[12:56] {bruce} can set fairly small stop
[12:56] {dino} they all do, lol
[12:57] {bruce} buy everything?
[12:57] {bruce} lol
[12:57] {dino} yes
[13:00] {Threei} MF
- Says Bear stearns investor Joe Lewis is not a client
[13:00] {Threei} - Says has $1.4B in committed, undrawn credit facilities
[13:01] {bruce} vadxrefferring to his persoanl loan to them - nigerian credits
[13:01] {Threei} lol
[13:02] {dino} sounds familiar
[13:02] {bruce} vad - what do you think of a retracement long in rimm near here?
[13:02] {Threei} with stop under .50?
[13:02] {bruce} was noticing the strong support at .50
[13:02] {Threei} I like it chart wise
[13:02] {bruce} wondeirng if worth try
[13:04] {dino} fmcn stopped -.50
[13:06] {bruce} sorry dino - sucks - quick markte drop
[13:07] {bruce} next supprt rimm 97
[13:07] {dino} small no biggie
[13:07] {Chaeron} market telling me not to even bother trying today
[13:07] {dino} still loike it, just where
[13:08] {bruce} yes- hard to pick entries
[13:09] {bruce} rimm bounce on first sign of strength or just back off for now vad?
[13:13] {Threei} ugh
[13:13] {Threei} not sure bruce
[13:13] {Threei} coin toss at this point
[13:14] {bruce} me either - lloks like coin toss on breakdown or bounce
[13:14] {lumdus} ok, tossing coin here. i advise which way
[13:14] {magoo} UP
[13:14] {magoo} heads
[13:14] {magoo} or, heads up
[13:15] {Threei} betting farm here
[13:15] {bruce} wheres dino's gun - worked earlier
[13:15] {bruce} k- I'll help bet your farm for you vad
[13:15] {dino} 32.70 trig l fmcn sm l .70 wide
[13:16] {dino} maybe gun to the head time
[13:17] {magoo} dino gun in my mouth
[13:17] {bruce} lol mags
[13:17] {lumdus} l jpm 39.48 stop 39.36 looked strong when market came dwown
[13:17] {bruce} thats the signal to buy him lunch
[13:20] {bruce} wow - hope you're out dino
[13:20] {bruce} I just lost your farm on you vad
[13:22] {dino} 3 month t-bill yield at 50 year low
[13:26] {Threei} magoo's fault, bruce
[13:26] {dino} not in bruce did not trig
[13:26] {bruce} good
[13:27] {Chaeron} [10:22] {dino} 3 month t-bill yield at 50 year low
[13:27] {Chaeron} [10:26] {Threei} magoo's fault, brucemagoo' fault, dino
[13:27] {Chaeron} what the?
[13:27] {bruce} watching rimm here
[13:27] {Chaeron} either way, it's magoo's fault
[13:28] {bruce} so true chaeron
[13:30] {bruce} magoo obviously asleep
[13:30] {dino} darn missed
[13:30] * bruce slaps magoo around a bit with a large trout
[13:31] {bruce} fwlt , rimm alxn cat
[13:31] {bruce} all possible longs on boucne
[13:31] {lumdus} l amzn 65.55 stop 65.45
[13:32] {lumdus} coin tossing today . after a friday like we had, this is just plain errr
[13:35] {magoo} vad, did ARNA have news today?
[13:35] {Threei} yes
[13:35] {magoo} positive?
[13:35] {Threei} 07:01am [ARNA] Lorcaserin for obesity passes a major safety milestone in independent review
[13:35] {magoo} ok TY
[13:36] {magoo} at 2 pm vad, call RIMM short..that spiked massive rallies 4 days last week
[13:36] {lumdus} bounce time ?
[13:38] {Threei} hmmm
[13:38] {Threei} meltdown is just as likely
[13:39] {bruce} q's breaking new lows here
[13:39] {lumdus} ok i really have 0 idea what's going on today.
[13:40] {Threei} I am right there with you lum
[13:40] {lumdus} what's the deal with sds. looks very strong
[13:44] {magoo} did ucall RIMM short vad??
[13:46] {Threei} no... sorry
[13:46] {Threei} I decided your very mention will be enough
[13:46] {Threei} and it was
[13:46] {lumdus} rally !!!
[13:47] {Threei} LEH
[13:47] {Threei} TICKS UP FROM SESSION LOWS ON TAKEOVER CHATTER- Barclays rumored as possible buyer
[13:48] {dino} yeah at 2 bucks, lol
[13:49] {bruce} was watching leh
[13:49] {bruce} was never a setup w less than 50 stop
[13:53] {bruce} alxn long dino?
[13:54] {dino} i like it\
[13:54] {dino} fmcn triggered
[13:55] {bruce} l alxn .50
[14:03] {dino} out fmcn 34.15, +1.45
[14:04] {bruce} wow - nice dino
[14:04] {bruce} dumped alxn +.06 on weakenss
[14:04] {dino} lucky, but thx
[14:05] {dino} you get de
[14:05] {dino} tech blood
[14:05] {bruce} no
[14:05] {bruce} trading one attime today
[14:06] {dino} ok
[14:06] {dino} lots going here
[14:09] {dino} out ibkr .91, +.41
[14:11] {dino} out de .54, +.58
[14:11] {dptl} Bruce...ty out alxn+.30....and ty for de...earlier got +.22
[14:11] {bruce} great dp
[14:12] {dino} bruce makes us money
[14:12] {magoo} what u stalkin vad?
[14:13] {dino} nice alxn
[14:13] {bruce} great moves dino - I don't trust laser auto stops - so don'twant to enter multiple tades - espcially today agtyer seeing major selloffs
[14:13] {dino} not w/laser, so use them
[14:14] {Threei} can't find anything even remotely looking readable to me at the moment magoo
[14:14] {dino} brb
[14:14] {Threei} bruce, you had any problems with them?
[14:15] {bruce} at times vad- triggersing quite a way below entry
[14:15] {Threei} we are talking OMS module?
[14:15] {bruce} may have been action of stock
[14:15] {bruce} yes
[14:15] {bruce} oms
[14:15] {Threei} OK... worked nicely for me when I tested it but I don't use it regularly
[14:16] {bruce} seems to work well at times
[14:16] {bruce} and not others
[14:22] {dino} bfam
[14:25] {dino} hard stops, bruce, my sometimes fill badly too, but overall they work well
[14:26] {bruce} k- definitley nicer to have them as backup
[14:26] {dino} i'm pretty much an idiot w/o them
[14:27] {bruce} possible long in leh at .50 w 12 c stop
[14:27] {bruce} invalidated
[14:28] {Threei} 97.10 break long RIMM
[14:28] {Threei} if stays above .90
[14:29] {Chaeron} - Oops - CNBC's Cramer Said 'Don't Move' From Bear a Week Before Collapse - 'Mad Money' host drastically underestimated the investment bank's trouble surrounding the mortgage crisis.
[14:30] {Threei} heh
[14:31] {lumdus} if i had to do analysis on bsc it should go up to 5 now.. at least.
[14:31] {Threei} derisory eh
[14:32] {Threei} investors holding BSC in their portfolios conasider today's opening price dderisory
[14:32] {lumdus} what does dderisory mean ?
[14:33] {ThurstonHowellTheThird} laughable, ridiculouse
[14:33] {Threei} ask joe lewis
[14:33] {lumdus} ok, so maybe they get better offer..
[14:33] {bruce} short for damned very sorry vad
[14:33] {lumdus} tx bruce. i no speka de english so good
[14:34] {Threei} lum... to read makes us speak English good
[14:34] {lumdus} in in bsc 4.30
[14:35] {lumdus} i like the news .. hee hee
[14:35] {Threei} lum, just don't hold it overnight
[14:35] {Threei} stay defensive
[14:35] {lumdus} why you think i crazy ?
[14:35] {Threei} book profits or at least protect them by partialing out
[14:36] {Chaeron} not you per se, but the market is :)
[14:36] {Threei} of course I do... and don't tell me you never gave me a reason {G}
[14:36] {Threei} three people in the room are on crazy side
[14:36] {bruce} mago magoo magooo
[14:36] {Chaeron} rofl
[14:36] {lumdus} 1) vad, 2) vad, 3) lumdus
[14:37] {Threei} to be fair, you are the least crazy out of three :)
[14:37] {dino} lol
[14:38] {lumdus} logic says that if the ceo thinks it's a crazy price he will go shopping for better price or at least jpm will go a few bucks higher.
[14:38] {lumdus} so it's worth an intraday shot i think.
[14:38] {Threei} you assume his lamenting is truthful
[14:38] {dino} fmcn sm l .01
[14:39] {dino} fed is pushing him tho, different rules imo
[14:39] {Threei} but these the same people I quoted earlier:
[14:39] {Threei} [08:50] {Threei} have a look at this piece of news just a week ago:
[14:39] {Threei} [08:50] {Threei} BEAR STEARNS DENIES LIQUIDITY RUMORS
[14:39] {Threei} [08:50] {Threei} NEW YORK – New York – March 10, 2008 — The Bear Stearns Companies Inc. today denied market rumors regarding the firm's liquidity. The company stated that there is absolutely no truth to the rumors of liquidity problems that circulated today in the market.
[14:39] {Threei} [08:50] {Threei} Alan Schwartz, President and CEO of The Bear Stearns Companies Inc., said, "Bear Stearns' bal
[14:39] {Threei} absolutely
[14:39] {Threei} no truth
[14:39] {Threei} to the rumors
[14:39] {Threei} how about that?
[14:40] {Chaeron} *cough - lawsuit! cough*
[14:40] {dino} ya think, :)
[14:40] {dino} they filed some friday
[14:40] {Threei} with all the gamesmanchip going on behind the scenes
[14:40] {lumdus} bsc, no liquidity .. and yes, i am a billionare.
[14:41] {Threei} there is no word coming of their mouth that I would take at face value
[14:42] {dino} listen they a saying this to pump and dump
[14:42] {dino} they are already fried
[14:42] {Threei} there
[14:42] {Threei} this I blieve easily
[14:42] {bruce} how about "pass the hat"?
[14:42] {dino} out fmcn .46, +.45
[14:42] {Threei} I don't think anyone went for RIMM break .10
[14:43] {Threei} but if someone did, take profit and be happy
[14:44] {Threei} you are getting good traction on BSC lum
[14:44] {Threei} can I interest you in taking half off the table?
[14:45] {Threei} quite empty day for me
[14:45] {Threei} we have Fed tomorrow, right?
[14:46] {bruce} fds dino
[14:46] {lumdus} bsc +.20 jpm +.45
[14:46] {Chaeron} EU'S ALMUNIA: " EUROPE NO LONGER IN ECONOMIC GOODTIMES" (no "dy no MITE!" ? :)
[14:47] {dino} fds, fat, drunk, "& stupid
[14:47] {Threei} yeah, 2:15 Fed decision
[14:48] {dptl} today?
[14:48] {Chaeron} Tuds
[14:48] {lumdus} in c 18.60
[14:48] {Chaeron} Tuesday
[14:48] {Threei} tomorerow dp
[14:48] {dptl} ok ty
[14:48] {bruce} lol dino
[14:49] {lumdus} i am glad the brillian schumer agrees with the fed. hee hee
[14:49] {dino} fds hmmmm
[14:49] {bruce} out fds - quick scalp +.18
[14:51] {dino} gj
[14:51] {dino} bfam sm l .68, stop lod
[14:51] {bruce} thanx
[14:52] {lumdus} L SGP 19.36 STOP 19.29
[14:52] {Threei} RIMM .70 long if stays above .50
[14:55] * Threei is kicking RIMM in the rear
[14:55] {Chaeron} careful - it kicks back
[14:55] {lumdus} you in already ?
[14:56] {Chaeron} I am
[14:56] {Threei} yes sir
[14:57] {Chaeron} good job with that boot
[14:57] {Threei} 1:1
[14:57] {Threei} 1:2, me out
[14:57] {Threei} wow
[14:57] {Threei} lol
[14:57] {Threei} that was some kick eh
[14:57] {lumdus} out 98.43
[14:57] {lumdus} tx sirr +.63
[14:57] {Threei} welcome lum
[14:58] {Chaeron} 98.46 here... + .72
[14:58] {Chaeron} many thanks Vad
[14:58] {Threei} you are so very welcome
[14:58] {bruce} out rimmsky + .56
[14:58] {dino} gj
[14:58] {Threei} I knew there was a reason I still haven't fell asleep
[14:58] {lumdus} that was so damm qick vad
[14:58] {Chaeron} nice and fast ex on Laser too... just when I needed it most
[15:00] {magoo} TY vad rimm, out ,
[15:00] {Threei} I was wondering mags... :)
[15:00] {Threei} you don't miss this kind of plays unless you are unconscious
[15:00] {magoo} was just waiting at .44
[15:00] {magoo} took l.onger
[15:01] {Threei} mama mia
[15:01] {bruce} I like trading rimm - just wish it was easier to read
[15:01] {Threei} paulson actually just said "we have strong dollar policy"
[15:01] {Threei} wait for me, I need to faint
[15:01] {lumdus} magoo, my fills where .44 & .50
[15:02] {lumdus} maybe he in denial - stronge
[15:02] {Threei} you know bruce
[15:02] {Threei} the more we deal with this one
[15:02] {bruce} never heard of the guy
[15:02] {Threei} the more I come to conclusion that it's quite tradeable under one condition
[15:03] {Threei} pick setups that allow you to keep clean chart based tight stops
[15:03] {dino} chaos?
[15:03] {bruce} its definitely worth learning to trade vad
[15:03] {bruce} quick mov es
[15:03] {Threei} if you do that, you will get one of valid setups working finally
[15:03] {bruce} great liquiditiy\
[15:03] {bruce} and reasonably tight spread
[15:03] {Threei} and what RIMM does whan it works will bring you back tw-threre stops and then some
[15:04] {Threei} and it's not like you run 1 out of 4 odds on it
[15:05] {bruce} it seems to have spots wee it can be read most days
[15:05] {Threei} yes
[15:05] {bruce} picking entrys is key
[15:05] {bruce} fds goinglong again
[15:06] {lumdus} finally sgp up a whole .04
[15:07] {bruce} doggy duty break
[15:08] {magoo} i jusdt hit RIMM 98 to 98.87...sorry
[15:08] {magoo} no way i vcould post
[15:09] {dino} gj
[15:10] {judi} we signing off for today with a +day, thanks all
[15:10] {dino} gj judi
[15:12] {lumdus} vad's call in am to be patient and slow was key to the sucess today.
[15:12] {lumdus} ok, if fed quite, BSC ceo quiet, then we might have a run up :)
[15:14] {Threei} good to hear judi
[15:14] {Threei} and magoo... you know what is coming, don't you?
[15:14] {magoo} huh?
[15:14] * Threei slaps magoo around a bit with a large trout
[15:15] {lumdus} vad, bsc could have eOD rally on think. based on my expert analysis LOL
[15:15] {Threei} for indecent profits
[15:15] {Threei} see lum... you are doing analysis... I grab'em when they trigger and abandon'em as they work or get stopped :)
[15:17] {Threei} but I do respect anyone who can spell analysis, that's more than I can say about myself
[15:17] {lumdus} thank you , please stand up in my honor
[15:17] {lumdus} and don't hit the seat so hard.
[15:18] {Threei} lol
[15:18] {magoo} vad, is this good bounce area RIMM?
[15:18] {lumdus} ok, bsc acting like a good sport, starting to look at least
[15:18] {Threei} it is by chart, I am not sure I understand why it dropped that far while NQ upticking
[15:19] {Threei} no RIMM specific news eithedr
[15:20] {Threei} just be careful, keep stop as if your very life depended on them
[15:20] {lumdus} analysis of bsc so far very good. maybe wsj can hire me.
[15:21] {dino} that will surely screw you up
[15:21] {lumdus} above 5 and we go to 8 right .. !
[15:21] {Threei} and not telling what it will do to WSJ
[15:22] {Threei} dunno about 8 but heck of a job so far lum
[15:22] {lumdus} they didn't pay for that much analysis.
[15:23] {lumdus} stop 4.86 should be nice enoght in 4.50 stop 4.86
[15:23] {Threei} you took RIMM off 97.50 mags?
[15:23] {lumdus} i am out.. crap
[15:24] {magoo} yup
[15:24] {Threei} still in?
[15:24] {magoo} .16 actually
[15:24] {dino} bfam stop to .95
[15:24] {dino} this is one crazy market
[15:25] {Threei} is Dow really up 72?
[15:25] {Threei} or am I hallucinating?
[15:25] {Chaeron} nope.. you're ok
[15:25] {lumdus} no, up 75
[15:25] {Chaeron} 78
[15:25] {Threei} what ca I say.. PPT is good
[15:26] {dino} 94
[15:26] {dino} yeah for a day or so
[15:27] {Threei} sure
[15:27] {Threei} but heck... try to keep above the water market THIS scared
[15:28] {lumdus} c, is pathetic
[15:29] {Threei} look at BSC tumble
[15:30] {Threei} good exit lum
[15:30] {Threei} I don't know what your guts are made of, most likely cast iron... but you played it perfectly
[15:31] {dino} out bfam .04, +.36
[15:31] {lumdus} in bsc 4.72 stop 4.59
[15:32] {lumdus} stop on bsc 4.64
[15:34] {dino} sm l fds .08
[15:35] {lumdus} stop on bsc 4.69
[15:36] {lumdus} hmm, bsc getting tired now. i exit soon
[15:36] {Threei} JASO .80 is tempting for long
[15:36] {Threei} I wish we had more time before eod
[15:37] {lumdus} bsc out
[15:37] {Threei} thing is way safer than it used to be when traded in stratosphere
[15:37] {Chaeron} but not as fun
[15:37] {Threei} lol
[15:39] {Threei} if it can eat through these offers it has aa good chance
[15:39] {Threei} stop would be under .60
[15:47] {Threei} prbably won't happen JASO
[15:47] {Chaeron} .
[15:47] {Chaeron} .
[15:47] {Threei} too close to eod
[15:47] {Threei} worth watching tomorrow though
[15:47] {Threei} but since I will forget anyway...
[15:50] {Threei} Ok guys, let's call it a day if you don't mind terribly
[15:50] {dino} out fds .25, +.17
[15:50] {Threei} thank you all, have a good evening
[15:50] {Threei} see you tomorrow
[15:50] {magoo} TY vad
[15:50] {Threei} welcome sir
[15:50] {Threei} dino grabbed last piece of money from the street :)
[15:51] {dino} indeed sir
[15:51] {Threei} hmm
[15:51] {Threei} JASO
[15:51] {Threei} nah... no time
[15:53] {dptl} have a good evening all:)
[15:55] {dino} take care all
[15:55] {dino} good day overall
[15:59] {dino} fmcn fast fall again
[16:04] {bruce} lots ofbig dumps today
[16:04] {bruce} wish we had some way to grab those
[16:07] {bruce} nightall