Session Time: Tue Jul 22 00:00:00 2008
[08:54] {peterg} gm--I am out of computer hell, where competing security systems fought each other to a standstill on my platform. Ugly business.
[08:54] {peterg} Memo: one at a time, one at a time.....
[08:54] {Threei} good morning
[08:55] {Threei} Norton fighting Kaspersky for the right to kill Adaware... that must be some spectacle
[08:56] {peterg} iI could follow us and get mail, but nothing else.
[08:57] {dptl} good morning all
[08:57] {Threei} dp :)
[08:57] {kazaam} gm
[08:58] {Threei} kaz :)
[09:00] {Threei} financials continue rocking the market
[09:00] {Threei} SNDK ugly hit
[09:04] {GeoArb} gm
[09:04] {Threei} Geo :)
[09:11] {Threei} US TREASURY SEC PAULSON SAYS WE WILL ALWAYS HAVE BANK FAILURES, BUT DO NOT SECOND GUESS REGULATORS
[09:11] {Threei} - Adds that it is important that regulators anticipate problems
[09:11] {judijim} good morning everyone
[09:11] {Threei} jj :)
[09:12] {pita} gm all
[09:12] {Threei} pita :)
[09:18] {dino} gm all
[09:18] {Threei} dino :)
[09:20] {fernp} Good morning all
[09:22] {Threei} fern :)
[09:22] {esemde} good morning.......
[09:22] {Threei} ese!
[09:22] {Threei} how's vacation going?
[09:22] {esemde} I'm back!....bitten to death...but i'm back
[09:23] {cosmo} SNDK
[09:23] {cosmo} tests
[09:23] {esemde} relaxing Vad...
[09:23] {esemde} will take me a few days to get into the swing of things here though..
[09:24] {esemde} hows the market been......earnings season?? anything out of the ordinary
[09:25] {Threei} very active
[09:25] {Threei} maniak-depressive
[09:25] {esemde} interesting...for the middle of summer?
[09:25] {Threei} yes
[09:25] {Threei} extreme optimism to totall depression and back, all within one day
[09:26] {esemde} how so?
[09:26] {cosmo} two poles
[09:28] {Threei} I guess I'll skip first few minutes to let the dust settle a litle
[09:28] {Threei} too many news shocks overnight
[09:28] {Threei} BAC, WB, V, AXP, SNDK
[09:28] {Threei} and none of them good
[09:29] {cosmo} SNDK needs to hold 14.25
[09:29] {cosmo} imho
[09:29] {Threei} FNM .50 break maybe
[09:30] {Threei} uhhu
[09:30] {Threei} lol
[09:32] {kazaam} i think you mean short at touch of 50 right? hehe
[09:32] {Threei} ok, worth a try for bounce soon FNM
[09:33] {Threei} FED'S PLOSSER: HOUSING STRUGGLES ARE SPECIFIC TO CERTAIN GEOGRAPHICAL AREAS, MONETARY POLICY CURRENTLY 'BETWEEN A ROCK AND A HARD PLACE' - Q&A
[09:33] {Threei} - Adds that it will take some time for inrerest rate cuts to move through the economy
[09:33] {Threei} - Policy has to focus on the 2009 economy outlook
[09:33] {Threei} - Action is need to address high inflation
[09:33] {Threei} 12 break
[09:33] {Threei} late?
[09:34] {tomg} in at 12.00 out at 12.60, ty vad
[09:34] {Threei} welcome, good job
[09:35] {tomg} only got 100, but happy :)
[09:40] {cosmo} BRCD 6.60 hod
[09:41] {cosmo} testing
[09:41] {cosmo} healer
[09:42] {cosmo} i think...
[09:43] {esemde} SVNT going nuts
[09:44] {Threei} no news
[09:44] {esemde} non that I can see
[09:45] {esemde} Vad do you see that as being less reliable?
[09:45] {Threei} ?
[09:45] {esemde} can't predict the momentum....
[09:46] {esemde} without news that is
[09:46] {Threei} not really... can be both ways
[09:47] {Threei} SNDK selling accelerates
[09:47] {esemde} hmmmmm has price target up 30 and possible buy out candidate.....SVNT
[09:48] {Threei} .51 I'd try long
[09:48] {Threei} if stays above .40
[09:48] {Threei} better yet above .45
[09:49] {esemde} BMRN also...bio tech....anyone have news on Bio Tech sector?
[09:50] {Threei} hmmm... market spike but what's following it?
[09:52] {dino} sm l de .01, stop lod
[09:52] {Threei} NNBR
[09:52] {Threei} 15 break long
[09:53] {esemde} now thats what i've missed....seeing dino in action....thing of beauty!!!
[09:53] {Threei} half lot NNBR
[09:53] {dino} lol es
[09:54] {dino} pcln blood
[09:55] {dino} pcln sm l .80 risky
[09:56] {kazaam} vad, on thin stock like nnbr is it better to get in before break?
[09:57] {esemde} NDX moving higher....early morning sell-off...finish the day strong????? any takers on that hteory
[09:57] {esemde} theory
[09:58] {dino} i think you are correct
[09:58] {dino} time will tell
[09:59] {esemde} looking at charts right now......gotta wonder whether markets have been severely sold at this point...
[10:00] {dino} pcln stopped
[10:00] {Threei} LEH
[10:00] {Threei} 18 break long if stays above .85
[10:02] {esemde} did you take it Vad? by the time i cued into it ...it was gone
[10:02] {Threei} yes
[10:02] {Threei} JULY RICHMOND FED MANUFACTURING INDEX: -16 V -9E
[10:02] {Threei} yikes
[10:04] {pita} LEH rinsed
[10:04] {dino} smaller shares, last try pcln l .00
[10:05] {Threei} oil drop supports market
[10:05] {Threei} looks like we are going with reverse logic now
[10:05] {Threei} bad news for the economy - oil drop - market up
[10:06] {Threei} that wasn't nice of LEH
[10:06] {pita} painful
[10:06] {dino} oih collapse
[10:07] {dino} out pcln .00, +1.00
[10:09] {Threei} FED'S PLOSSER REMARKS THAT THE CREDIT FACILITIES FROM THE FED ARE NOT INFLATIONARY, AND PRICE EXPECTATIONS ARE SHAKY YET STABLE
[10:09] {Threei} will they ever shut up?
[10:09] {dino} i was thinking the same thing
[10:10] {esemde} Not inflationary!!!!! NOT INFLATIONARY!!!!! ya print more moeny you get inflation!!!!!! what the???
[10:10] {hawkfan4} me too
[10:10] {dino} salvation through inflation is the theme
[10:10] {kazaam} well if its not inflationary they should just print some money and send it to us
[10:11] {dino} i want my losses re-imbursed
[10:12] {dino} :)
[10:12] {esemde} good one dino....
[10:13] {Threei} CEO: WACHOVIA IS 'ON STRONG FOOTING', HAVE 'DONE OUR BEST TO BE MORE CAUTIOUS' - CONF CALL
[10:13] {cosmo} strong, but shaky ...
[10:18] {kazaam} is nnbr still in play?
[10:18] {Threei} yes, as long as holding above .85
[10:19] {Threei} C
[10:19] {Threei} UPDATE: GOLDMAN SACHS ANALYST SEES FY08 EPS AT -$1.10 V -$1.20 PRIOR VIEW, FY09 AT $2.10 V $2.40 PRIOR
[10:20] {esemde} Vad ...on your trade the news site....is there anything on SVNT
[10:20] {esemde} been interesting watching it...
[10:20] {Threei} nope
[10:20] {esemde} tks
[10:24] {dino} fwlt sm l .50 stop lod
[10:24] {dino} grmn acting up again
[10:30] {Threei} with oil dropping, I'd expect ROYL to pick up some strength
[10:31] {Threei} no sign of it so far, but worth keeping eye on
[10:35] {Threei} I have troubles finding stocks that follow market today
[10:35] {Threei} it's like NQ moves by itself
[10:35] {Threei} MAY HOUSE PRICE INDEX: -0.3% V -0.8%E
[10:36] {dino} yeah, i've been telling magoo the indexes don't match what's happening
[10:37] {Threei} IMF'S LIPSKY: DETERIORATION IN INFLATION EXPECTATIONS ARE POTENTIALLY A SERIOUS GLOBAL RISK
[10:37] {Threei} DETERIORATION IN INFLATION EXPECTATION - Lipsky's good...
[10:43] {Threei} SNDK quieted down
[10:43] {cosmo} BRCD holds 6.80
[10:43] {cosmo} so far
[10:43] {Threei} .25 long if stays above .15
[10:44] {dino} .
[10:45] {cosmo} good point
[10:45] {Threei} fine point I'd say
[10:46] {dino} got knocked out of cyber, thought whole system was down
[10:47] {GeoArb} cruise companies seem to be killing it
[10:47] {dino} wow xto, great report, take it down. they trade like the commodity anymore
[10:48] {dino} i guess if oil goes to 100, xto goes to 1
[10:50] {Threei} out SNDK
[10:50] {Threei} +.25
[10:50] {tomg} wtg vad, beaut :)
[10:50] {Threei} :)
[10:52] {dino} amzn sm l .50 stop .13
[10:54] {cosmo} BRCD hod = 7.05 fyi
[10:55] {dino} amzn stopped -.37 that was quick
[10:55] {Chaeron} Good morning all
[10:56] {Threei} Chaeron :)
[10:57] {Threei} WB
[10:57] {Threei} NOT LOOKING TO ISSUE STOCK AS MEANS FOR RAISING CAPITAL
[10:59] {dino} yeah, right
[10:59] {Threei} WSJ: FORD WILL CONVERT 3 TRUCK PLANTS TO MAKE CARS - UNCONFIRMED REPORT
[11:09] {esemde} long ZION 26.40 half lot
[11:11] {esemde} stop 26.10
[11:18] {Threei} NNBR over 1:1 solidly
[11:19] {Threei} hard to tell whether it has more in it
[11:19] {pita} took .20 of ZION ese ty
[11:20] {Threei} nice one ZION
[11:20] {Threei} no takers on NNBR?
[11:20] {Threei} and no one but tom went for SNDK?
[11:20] {Threei} sheesh, just showering you guys with winning trades only to be ignored
06[11:21] * Threei removes himself to remote Tibet monastery for three years of highly focused navel-gazing
[11:22] {esemde} GJ pita...gonna hng in there a little longer
[11:22] {pita} worth holding
[11:22] {esemde} see if it can punch through 27
[11:22] {Threei} UAUA
[11:22] {Threei} REACHES AGREEMENT IN PRINCIPLE TO ENHANCE LIQUIDITY BY APPROXIMATELY $1.2B
[11:22] {Threei} - Announced that it reached an agreement in principle with its Mileage Plus co-branded bank card partner, Chase Bank U.S.A., N.A. and Paymentech, one of its credit card processors, to extend the term of their respective agreements.
[11:22] {Threei} - United will receive a payment of $600M from Chase, which relates to the advance purchase of frequent flyer miles and the extension of the contract. The company also expects this transaction will improve cash flow by about $200M in the next two years.
[11:23] {esemde} if i get any resistance at 27 i'm outta there
[11:23] {Threei} missed news...
[11:24] {esemde} out ZION .85 +.45
[11:24] {esemde} sewer guys are here to do my drains
[11:25] {esemde} can't monitor it
[11:25] {esemde} i'll take .45
[11:25] {peterg} nice trade & good to have freshened sewers.
[11:26] {esemde} ya ...i'll say...
[11:26] {esemde} only 1 inch opening....pretty much blocked
[11:26] {esemde} could be tense around here for a couple of hours
[11:27] {laserdave1} hey guys just so you know
[11:27] {esemde} see you all a little later
[11:27] {laserdave1} laser will be going down for about 2 minutes
[11:27] {Threei} take care ese
[11:27] {laserdave1} will go down in about 10 minutes from now
[11:27] {laserdave1} it will go down for about 1 minute
[11:34] {Threei} sheesh UAUA
[11:36] {dptl} yeah....i grabbed lcc with it but only for 10c
[11:37] {laserdave1} ok laser back
[11:37] {laserdave1} log in guys
[11:38] {Threei} in
[11:38] {dptl} in
[11:40] {Chaeron} x
[11:46] {dptl} spr?
[11:50] {Threei} not sure
[11:50] {Threei} but getting interested in UAUA for bounce
[11:51] {dptl} ok ty
[11:51] {hawkfan4} took .20 on NNBR on the bounce, thx vad
[11:52] {Threei} :)
[11:52] {laserdave1} Chaeron dcc please
[12:06] {pita} later everyone
[12:07] {Threei} take care pita
[12:27] {Chaeron} .
[12:31] {Threei} WB, will get interested if drops to 13.5 at least
[12:34] {Threei} CSIQ sharp drop
[12:37] {dptl} qlgc?
[12:38] {Threei} I wouldn't
[12:38] {Threei} thick, slow
[12:38] {Threei} not what you want in lunch time
[12:38] {dptl} ok ty
[12:45] {Threei} market confused itself with all the morning jumps, decided to sit quietly and ponder next move
[12:46] {Threei} wow CSIQ
[12:47] {Threei} feels like quick drop to 28 or just under should provide bounce
[12:53] {Threei} too optimistic
[12:59] {Threei} UAUA .50 break for a scalp if holding above .35
[13:05] {dino} xmsr
[13:06] {dino} no merger
[13:08] {Threei} WSJ: 1 FCC MEMBER VOTES AGAINST MERGER WITH SIRI, VOTE NOW STANDS AS 2-1
[13:08] {Threei} - Note two members have yet to vote
[13:09] {dino} ahh
[13:21] {dino} out ma 270.75, +2.50 yesterday
[13:22] {hawkfan4} sweet
[13:22] {dino} lucky, gapped down hard off of amex
[13:37] {kazaam} wow, that is some disciplined sideways action
[13:39] {Threei} very much so
[13:43] {dino} sm l cetv .65, stop .29
[14:07] {Threei} 7.49 short scalp trigger for UAUA
[14:07] {Threei} if stays under .60
[14:13] {dptl} covered .38 uaua ty
[14:14] {Threei} :)
[14:14] {jmb} thanks Vad
[14:14] {Threei} welcome
[14:15] {Threei} just when everyone though I was in that monastery already eh?
[14:16] {Threei} CSIQ one more quick drop is coming
[14:17] {Threei} happened while I was typing actually, lol
[14:21] {Threei} absense of shorts on financials is inconvinient
[14:21] {Threei} look at 1 min FNM
[14:21] {Threei} was clean short setup at .50 break
[14:23] {hawkfan4} was pretty
[14:23] {Threei} if I were them, I'd do this ban differently
[14:24] {Threei} short to your heart content as long as you cover within same day
[14:24] {Threei} would bring net neutral result on day to day basis, and would provide a lot more liquidity
[14:25] {Threei} esentially stabilizing the price, and as a bonus providing serious fuel for upward move in case of good news
[14:25] {Chaeron} hmmm... Vad angling for head of SEC
[14:25] {Threei} I am more effective in a "behind the curtain consultant" role
[14:26] {Chaeron} as long as they pay you well
[14:26] {Threei} well?
[14:26] {Threei} nope
[14:26] {Threei} very well
[14:26] {Threei} that may do it
[14:27] {Chaeron} :)
[14:37] {Threei} watch USO and UAUA
[14:37] {Threei} now hat UAUA bounced back into resiatance .50, USO tuern up will send it back down
[14:38] {Threei} can't call it as a trigger since it's more of relation than exact numbers
[14:38] {Threei} so if you understand the idea of a trade, try to find it
[14:38] {Threei} if not, ask
[14:38] {Threei} and I will do my best to pretend I understand what I just said
[14:39] {dptl} lol
[14:40] {dino} oh ohh, forgot order, s sm skyw .65
[14:40] {dino} stop hod
[14:43] {Threei} accordingly... IF USO drops, .51 will become UAUA long trigger
[14:43] {Threei} ummm... a bit late
[14:45] {dino} out cetv .65, +1.00
[14:46] {Threei} beauty
[14:46] {dino} ty
[14:46] {Threei} don't tell magoo I called you that
[14:46] {Chaeron} jealous?
[14:47] {Threei} I don't want to find out
[14:47] {dino} lol
[14:47] {hawkfan4} lol
[14:48] {Threei} watch LEH here
[14:48] {Threei} if NQ spikes sharply through 1810 LEH will jump too
[14:49] {Threei} it often gives little delay for entry when market makes sharp move
[14:49] {Threei} quite scalpable
[14:50] {Threei} feels like market spike is coming
[14:52] {Threei} 1810 break will launch it
[14:55] {dptl} laser gonna restart again
[14:56] {laserdave1} to ensure proper data they need to restart laser again
[14:56] {laserdave1} they are upgrading the server tonight
[14:56] {Threei} 14:56:18 ADMIN7 --} (All): This is an emergency issue, we are upgrading the server tonight, should not happen tomorrow.
[15:00] {Threei} here we go NQ
[15:04] {Threei} out LEH +.15
[15:05] {hawkfan4} nice, out +14
[15:05] {Threei} :)
[15:07] {Threei} jeez WB
[15:09] {Threei} this is one wierd market today
[15:09] {Threei} I believe we handled it very well
[15:10] {Threei} found a few good ones, avoided getting trapped into sudden changes
[15:10] {Threei} just one rinse
[15:10] {Threei} but heck... to be rinsed by LEH is like medal of honor
[15:10] {hawkfan4} very wierd day, herky jerky
[15:12] {Threei} let's sit out this up/donw jerkiness
[15:13] {Threei} LEH stabilized, oil is not impacting the day right now anymore,
[15:13] {Threei} WB is the only active spot
[15:14] {Threei} and we have WM reporting after close, right?
[15:14] {Threei} good enough reason not to touch WB right now
[15:15] {hawkfan4} yes, WM after close today
[15:25] {Threei} WB is likely to pullback hard now
[15:25] {Threei} which should provide bounce for a scalp
[15:26] {Threei} 15.5 - 15.7 area will get me interested
[15:26] {Threei} 15 will get me excited
[15:26] {Threei} 14 - delighted... 13 - depressed
[15:26] {Threei} just like this market
[15:28] {Threei} no pullback... oh well
[15:31] {peterg} short WB?
[15:31] {Threei} I don't think you can
[15:31] {Threei} test it by 100 shares at 17
[15:31] {peterg} Doesn't it itch to lose some weight?
[15:31] {Threei} I am sure you will get "not available"
[15:32] {Threei} it's one of financials put on "speacial no short" list
[15:32] {peterg} 200 at 16.05
[15:32] {Threei} why that low?
[15:32] {Threei} test is done away from market
[15:33] {Threei} stock pulled bacxxk about 70 cents, it's a lot of chasing
[15:35] {peterg} caved and bailed, throwing money to the winds
[15:35] {peterg} now it works
[15:35] {peterg} maybe
[15:35] {Threei} why not wait for bounce to short?
[15:36] {peterg} when bounce"
[15:36] {peterg} ?
[15:36] {Threei} closest resistance is 16.20 area now
[15:38] {Threei} WB is available
[15:38] {Threei} strange
[15:39] {Threei} watching for market turn to short
[15:39] {Threei} too spikey...
[15:43] {Threei} OK, short half lot
[15:43] {Threei} .65 stop
[15:43] {Threei} no worky
[15:45] {Threei} quite an amazing recovery in the market and financials
[15:45] {Threei} second try
[15:46] {Threei} got .72
[15:47] {Threei} out .45
[15:47] {Threei} got that stop back
[15:47] {peterg} you got WB at .72?
[15:47] {Threei} and covered at .45
[15:47] {peterg} masterful
[15:47] {peterg} envy
[15:48] {Threei} this is "multipe try" kind of trade
[15:48] {Threei} keep it to half lot and keep stops tight
[15:48] {peterg} disincentive on my platform is fixed price commissioin
[15:48] {Threei} if not so close to end of day, would try to hold for more drop
[15:48] {Threei} but with 10 min left, just satisfied with getting back first stop
[15:49] {Threei} yikes
[15:49] {Threei} per share price is the way to go unless you are trading 10-20K lots
[15:49] {peterg} working on it
[15:49] {Threei} gives you flexibiltiy to vary size
[15:49] {dino} think i'm calling it a day cov. skyw for sm loss. thanks all
[15:49] {Threei} to partial out
[15:49] {Threei} OK guys, quite a day
[15:49] {Threei} let's get some rest
[15:49] {dptl} have a good evening all :)
[15:50] {Threei} thank you all, havce a great evening
[15:50] {peterg} Im getting it see all later
[15:50] {hawkfan4} good idea, bye all, thx
[15:50] {Threei} see you tomorrow
[15:50] {Threei} for another session of therapy for maniak-depressive market
[15:51] {fernp} see you tomorrow
[15:52] {judijim} be back tomorrow, take care everyone
