Monday, July 21, 2008

Jul 21 2008

Session Time: Mon Jul 21 00:00:01 2008

[08:36] {Threei} Good morning
[08:36] {Threei} looks like all is well in da world today
[08:36] {Threei} everything' gapping up merrily
[08:37] {hawkfan4} good morning
[08:37] {Threei} hawk :)
[08:41] {Threei} should overall and financial rally continue, LEH becomes a long at 20.20
[08:51] {brian3579} gm all
[08:51] {Threei} brian :)
[08:54] {judijim} hello and good morning
[08:55] {Threei} jj :)
[08:56] {dptl} good morning all
[08:56] {Threei} dp :)
[09:07] {Threei} FNM forming support at 14.80
[09:08] {GeoArb} gm
[09:08] {Threei} Geo :)
[09:10] {pita} gm everyone
[09:11] {Threei} pita :)
[09:14] {Threei} watching FNM, if big offer at .98 gets taken, worth a half lot pre-market try
[09:19] {fernp} Good morning all
[09:19] {Threei} fern :)
[09:26] {dino} gm all
[09:26] {Threei} dino :)
[09:26] {Threei} 10 is interesting level for FRE
[09:27] {Threei} significant support in the past, turned into important resistance later on,
[09:27] {Threei} if can hold today siglas a lot of strength for further rally
[09:27] {Threei} signals
[09:29] {Threei} if you took FNM, feel free to grab "warm-up scalp"
[09:31] {Threei} FRE .21 long, stop under 10
[09:32] {Threei} fast swing to 1:1 and back
[09:33] {Threei} FNM is considerably stronegr
[09:36] {Threei} FNM .56 half lot long if not losing .40 anymore
[09:38] {Threei} over 1:1
[09:39] {Threei} touched under .40 briefly, hard to tell whether it was invalidation or just a fluke... kinf of discretionary
[09:39] {dino} out nue from friday late, +1.22
[09:39] {Threei} if you took it, get out here
[09:39] {kazaam} leh broke 20.20
[09:39] {Threei} dino :)
[09:39] {dino} i know, don't swing
[09:39] {Threei} LEH went too deep on pullback for my taste...
[09:40] {Threei} but with FNM continuing , probably worth a try
[09:40] {Threei} sheesh FNM
[09:41] {Threei} BAC
[09:41] {Threei} - Merger costs still seen at $1.2B
[09:41] {Threei} - Notes thet their credit losses are still rising, will deteriorate through 2008, yet most of the businesses are performing well
[09:43] {Threei} half out LEH who went for it
[09:43] {Threei} scalpers know what to do
[09:43] {Threei} 1:2
[09:43] {dino} artc
[09:44] {hawkfan4} 1/2 out leh + .55, thx vad
[09:44] {Threei} welcome :)
[09:44] {dino} gj
[09:45] {Threei} pullnack time is coming for LEH
[09:45] {Threei} I'd be out here
[09:45] {hawkfan4} out
[09:45] {dino} chic
[09:46] {Threei} this endless string of green bars is scary looking
[09:46] {Threei} when it ends, it derops so violently, beter be out before that
[09:46] {Threei} "sell when you can, not when you have to"
[09:46] {Threei} look at that
[09:47] {Threei} over 50 cents drop in one gasp
[09:47] {Threei} aren't you glad to give up last 5 cents and guard yourself against this
[09:47] {hawkfan4} you bet
[09:48] {Threei} reentry time is coming
[09:48] {Threei} ugh, late
[09:48] {Threei} don't chase
[09:49] {kazaam} possible BAC wedge
[09:50] {Threei} somewhat listless chart... can't tell on BAC, sorry
[09:50] {Threei} ok FNM, it's officially putting my exit call into "what was I thinking" category
[09:57] {Threei} MYGN
[09:58] {Threei} 61 break long half lot
[09:58] {Threei} stop under 60.80
[10:00] {Threei} JUNE LEADING INDICATORS: -0.1% V -0.1%E
[10:02] {Threei} MYGN is not a scalp for me but manage your trade according to your trading plan
[10:05] {Threei} SGLP
[10:05] {Threei} - pre-open
[10:06] {Threei} market looks wierd
[10:07] {Threei} non-scalping part no go MYGN
[10:11] {dino} aste
[10:13] {peterg} gm--connect chatline but dead for stox..grrrrr
[10:14] {Threei} morning peter
[10:16] {Threei} BRKS
[10:16] {Threei} .84 - .85 long if stays above .75
[10:21] {kazaam} everybody went to sleep kinda early this morning
[10:21] {Threei} you assume someone actually ever woke up
[10:21] {Threei} that's not a given
[10:21] {kazaam} ahhh, mistake number one
[10:22] {dino} sm l aste .92, stop .59
[10:24] {dino} etm s .92 stop hod
[10:24] {GeoArb} i need stronger coffee... riding BRL slow....
[10:25] {Threei} BRKS invalidated
[10:33] {dino} v sm artc l .80
[10:33] {dino} wide
[10:34] {dino} nope, stopped
[10:38] {Threei} getting interested in FNM again
[10:39] {Threei} worth a try as close to .50 as possible, can take a few attempts
[10:41] {Threei} ALTH
[10:41] {Threei} .50 break long
[10:41] {Threei} aww
[10:41] {kazaam} darn, was waiting for it to hit .62
[10:41] {Threei} too fast
[10:41] {Threei} see if gives pullback
[10:42] {Threei} anyone found FNM entry?
[10:44] {hawkfan4} missed it
[10:44] {fernp} no. too fast
[10:48] {kazaam} vad, any read on SII?
[10:48] {Threei} 85 is obvious support
[10:48] {Threei} worth a try off it
[10:48] {Threei} just a bit too volatile to rely on exact numbers,
[10:48] {Threei} gotta o with fuzzy "areas"
[10:49] {Threei} WB
[10:49] {Threei} .51 long if stays above .35
[10:50] {Threei} wierd spikes NQ
[10:51] {Threei} SGLP... no more bankruptsy or what
[10:52] {Chaeron} Good morning all
[10:52] {Threei} chaeron :)
[10:54] {Threei} anyone took ALTH on pullback to .50?
[10:56] {dino} mancehester securities and alerian capital assume control of sglp
[10:56] {Threei} I wish I understood what that means :)
[11:03] {Threei} ALTH is pregnant with runner status
[11:04] {Threei} not for chasing here though
[11:05] {Threei} how did I miss CLNE 13 break
[11:06] {kazaam} BRL breakout?
[11:06] {kazaam} oh, i guess i missed it
[11:06] {Threei} Geo is in it from earlier
[11:07] {Threei} I think from way earlier
[11:07] {Threei} 64 or so?
[11:08] {Threei} LEH half lot long 20.03
[11:08] {Threei} stop under .90
[11:09] {Threei} .80 is better pronounced support but I would like to keep it to scalping mostly at this point
[11:10] {GeoArb} sitting in it from .30.... in and out of office
[11:11] {Threei} grrrr MYGN
[11:11] {Threei} rinsed
[11:14] {Threei} OSTK small shares short .55
[11:14] {Threei} if stays under .75
[11:17] {Threei} feel free to cover as yuou see fit
[11:22] {fernp} excelent Vad. TY
[11:23] {Threei} :)
[11:23] {Threei} power of momentum is amazing... it's down so much over last days and still drops
[11:24] {Threei} FNM... time to try it again, may take multiple attempts
[11:24] {Threei} .75 with stop under .60 first try
[11:26] {Threei} if stopped next support is .50
[11:26] {Threei} sheesh OSTK
[11:26] {Threei} anyone had mor patience than I did?
[11:27] {kazaam} wish i got in, took a bathroom break and missed LVS as well
[11:27] {GeoArb} too much info
[11:27] {Threei} lol
[11:28] {kazaam} hehe
[11:28] {GeoArb} long enuff break to miss not one but 2 plays !!!!!!!!!!!!!!
[11:28] {GeoArb} :)
[11:30] {Threei} ah come on FNM, isn't $3 pullback from high deserving an entry?
[11:30] {Threei} apparently not
[11:34] {pita} later everyone
[11:35] {Threei} take care pita
[11:35] {dino} aste stop to .32
[11:35] {dino} etm bstop to b/e
[11:39] {Threei} LEH bounce time very soon
[11:40] {Threei} hard to pin;point exact entry
[11:40] {Threei} if you get a feel for it, great
[11:40] {Threei} if not, stay away
[11:40] {dino} out aste .63 +.71
[11:40] {Threei} wtg
[11:40] {dino} ty
[11:41] {dino} took awhile, but hey
[11:41] {dino} etm to .72
[11:46] {dino} etm stopped/cov .73 +.19
[11:57] {Threei} if FNM goes as low as 15 I will buy without second thought
[11:57] {Threei} (I think)
06[11:58] * Threei slaps laserdave1 around a bit with a large trout
06[11:58] * Chaeron slaps laserdave1 around a bit with a large trout
[12:00] {dino} ma gap fill
[12:01] {Threei} one more leg down probably, for both market and FNM, and bounce should develop
[12:04] {Threei} in FNM{ try #1
[12:04] {Threei} stop 0.09
[12:07] {dino} v sm l ma .25 risky, v wide
[12:09] {Threei} ok market, enough games... time to move
[12:11] {Threei} FNM needs to sell under 15
[12:11] {Threei} will be impossible to call in time
[12:12] {Threei} same thing as before - if you get a read on it, go for it
[12:12] {Threei} if not, stay on a sideline
[12:27] {kazaam} what a mess
[12:27] {Threei} Monday... hangover...
[12:28] {Threei}
[12:28] {dino} grmn
[12:30] {Threei} don't see any news for this spike
[12:30] {dino} me niether
[12:33] {Threei} anyone got FNM?
[12:33] {hawkfan4} .93
[12:33] {Threei} beauty... wtg
[12:35] {hawkfan4} out +.47, thx. rather buy it back than watch it teleport do 15 again
[12:36] {dino} gj
[12:37] {hawkfan4} thx dino
[12:39] {dino} :)
[12:45] {dptl} mdco?
[12:45] {Threei} why not
[12:45] {Threei} chart's right, market is moving
[12:46] {dptl} l .21
[12:46] {dptl} stop under .06?
[12:47] {Threei} or under 21
[12:47] {Threei} both make sense
[12:47] {dptl} ok ty
[13:02] {dptl} sun?
[13:03] {Threei} ywes, not a cloud here
[13:04] {dptl} .40 break with stop under .20
[13:04] {Threei} .40 if holding above .25, IMO
[13:04] {dptl} ok ty
[13:04] {Threei} lunch time... things are less eactive
[13:06] {Chaeron} Ben Franklin summed it up well. In times of stress, the three best things to have are an old dog, an old wife and ready money. How right he was.
[13:07] {Chaeron} ooops sorry
[13:07] {Threei} why then do all those people with ready money leave old dog to old wife and go for new wife
[13:08] {Chaeron} lol
[13:08] {GeoArb} lol
[13:08] {Chaeron} fools
[13:08] {dptl} mir?
[13:08] {GeoArb} thats in times of less stress
[13:08] {Threei} MIR intraday looks nice, but there is .81 resistance from yesterday, very close
[13:09] {dptl} yes.
[13:11] {dptl} grabbed 10c mir
[13:11] {Threei} went through both
[13:11] {Threei} nice one
[13:11] {dptl} offering .37 mdco
[13:12] {Threei} dptl, the lunch time money machine
[13:12] {dptl} :) trying
[13:14] {dptl} should i keep same stop on mdco?
[13:14] {Threei} it formed new support at .15
[13:14] {Threei} so, either .14 if you are strict
[13:14] {Threei} or .09 to pad it a bit
[13:14] {dptl} thats what i think
[13:16] {dptl} sun held.25
[13:18] {dptl} got .42 sun
[13:26] {dptl} out mdco +.16
[13:26] {Threei} :)
[13:27] {dptl} :) now if you can kick that sun:)
[13:29] {Threei} good enough?
[13:29] {dptl} lol a bit more may be or that will be pushing
[13:30] {Threei} it will... but I'll try... just for you
[13:31] {dptl} thanx Vad
[13:31] {dptl} offering .57
[13:37] {dptl} hmm..amazing ...nice kick Vad out .57 thx lol
[13:38] {Threei} welcome sir
[13:38] {Threei} just ask
[13:38] {dptl} :)
[13:50] {dptl} nrg?
[13:53] {Threei} .26 is obvious trigger but I don't see defined support for stop placement for now
[13:54] {dptl} sun again
[13:55] {dptl} yes same here can't find stop for nrg
[13:55] {Threei} see if COST forms double bottom
[13:55] {Threei} .91 would be long if holding above .70
[14:00] {dino} i was watching cost too
[14:01] {Threei} cool, let's name the thing for move to 70.50
[14:01] {dino} ok
[14:01] {Threei} name = nail
[14:04] {Threei} lost support in validating double bottom
[14:04] {Threei} invalifating
[14:04] {Threei} ok, whatever
[14:04] {GeoArb} lol
[14:09] {dino} i like it here w/stop at .48ish
[14:29] {dptl} sho
[14:31] {Threei} I'd expect FNM to try a run once again before day is over
[14:32] {Threei} {USO}
[14:32] {Threei} I guess 15 break
[14:32] {Threei} and as usual... can take a few tries
[14:33] {Threei} don't touch it if not ready for that
[14:33] {Threei} oil spike weighs on market
[14:34] {dptl} l sho .06 stop .94
[14:36] {Threei} come on FNM
[14:36] {Threei} your day high is 3,5 dolars away for pete's sake
[14:36] {Threei} can't you try and make at least 1/7 of tat?
[14:36] {Threei} than
[14:37] {Threei} that
[14:37] {Threei} magoo would be proud of me
[14:37] {GeoArb} vad in that scanner setting..... FDG
[14:38] {Threei} nice one
[14:39] {dino} gj
[14:40] {GeoArb} i was down for the day ... got greedy....FDG made me flat
[14:40] {GeoArb} now i am going to sit in the corner
[14:41] {GeoArb} coal sector hot
[14:42] {dino} up here, but slow day
[14:43] {GeoArb} finally feels a litle like summer
[14:46] {Threei} - reminder: at the weekend meetings in Geneva, the six major powers set a 2 week deadline for Iran, or it will face further sanctions
[14:55] {GeoArb} vad.... UYG basing nicely at lows
[14:55] {GeoArb} any read?
[14:55] {GeoArb} oops
[14:59] {GeoArb} paid
[15:01] {GeoArb} anyone else take it?
[15:01] {GeoArb} or summer siesta? :)
[15:03] {GeoArb} .
[15:03] {GeoArb} am i logged in?
[15:04] {Chaeron} yes geo :)
[15:04] {Threei} I guess
[15:04] {patience} i think so
[15:04] {GeoArb} thanks
[15:04] {GeoArb} i guess i am just being ignored
[15:05] {Threei} well, look at it this way
[15:05] {GeoArb} oooooo
[15:05] {Threei} someone should take magoo's place for a week
[15:05] {GeoArb} es breaks low
[15:05] {patience} i miss magoo
[15:05] {Chaeron} me too... Vad... please edit this out :)
[15:06] {Threei} yeah right
[15:06] {Chaeron} just didn't want in writing LOL
[15:06] {GeoArb} sentiments sensntiments
[15:07] {Threei} I am more likely to add than edit out
[15:07] {dino} ohhh mannnnnnnnn, do not let him hear that
[15:08] {dino} and here i sit enjoying the quiet
[15:08] {GeoArb} anyone in anything interesting?
[15:08] {GeoArb} i asm still short uyg
[15:08] {dino} interesting no
[15:09] {dptl} stopped sho to go.......have a good evening all:)
[15:09] {dino} u2 dp
[15:09] {Threei} take care dp
[15:15] {Threei} tough ending so far, don't see any more or less safe play
[15:15] {Threei} FNM break of .50 is asking to be bought
[15:15] {Threei} but not much worked on it since its retreat from highs
[15:16] {judijim} take care all, be back tomorrow
[15:16] {Threei} take care jj
[15:22] {peterg} ok, finally arrived after day of resolving computer issues; so whats up?
[15:22] {peterg} must make money in ten minutes
[15:22] {peterg} revenge trading
[15:22] {Threei} great way to lose some
[15:22] {peterg} I know; I'll wait til tomorrow; have no feel.
[15:27] {Threei} neither dio I
[15:28] {Threei} you know what... I think let's call it a day, market is confused and I don't want to do anything potentially hurtful
[15:28] {Threei} USO rally put a drag on market
[15:28] {Threei} and financial's strength disapeared
[15:29] {Threei} thank you all, have a great evening, see you tomorrow
[15:29] {hawkfan4} cya vad, thx
[15:30] {peterg} tomorrow
[15:30] {fernp} bye
[15:33] {peterg} laserdave, you there? CDCC
[15:45] {dino} cost stopped -.27
[15:59] {dino} ok calling it a day, take care all
[15:59] {dino} holding ma, v sm