Aug 25 2008

Session Start: Mon Aug 25 02:52:12 2008

[08:15] {Threei} Financials: According to Heard on the Street some US investment bankers are bearish on the second half of 2008 - WSJ
[08:15] {Threei} - There are some concerns among bankers that the outlook has deteriorated further. The focus for investors remains on the damage caused by mortgage-backed securities, but investors are also looking at other areas such as commercial real estate and higher-grade residential mortgages.
[08:15] {Threei} - The article adds that continued credit-market weakness is likely to force further write-downs in Q3.
[08:16] {Threei} - WSJ believes that Lehman and Merrill are the most vulnerable to an industry slowdown.
[08:16] {Threei} - Consolidation in the investment banking sector could leave the industry with about six major full-service players.
[08:16] {Threei} - With respect to Fannie Mae and Freddie Mac, the WSJ notes that Freddie Macs preferred shares already trade at less than half of their issue price and that suggests no preferential treatment if the government ends up bailing out the mortgage GSEs.
[08:18] {Threei} KUWAIT OIL OFFICIAL SAYS PUMPING AT 2.53M BPD, HAS SPARE CAPACITY OF 200K BPD, ON TRACK TO INCREASE H1 2009 CAPACITY BY +20% TO 3M BPD
[08:18] {Threei} - Currently awaiting final approval from China for new 300K bpd refinery
[08:18] {Threei} - Expects to sign new contracts with oil majors by the end of 2008{USO UNG}
[08:19] {Threei} 03:17am [LDK] Reaches 1.0 GW wafer production capacity, Guides FY09 Rev $2.8-3.0B v $2.43B
[08:48] {Threei} REPORTEDLY NAWAZ SHARIF'S PARTY HAS PULLED OUT OF PAKISTAN'S RULING COALITION - UNCONFIRMED REPORT
[08:48] {Threei} - Note that overnight, the WSJ reported Pakistan's governing coalition is on the verge of collapse.{GLD}
[08:52] {Onix} Good morning RT
[08:52] {Threei} Good morning
[08:53] {Threei} USO is spiking
[08:53] {Threei} maybe little short UAUA
[08:54] {Threei} UPDATE: REPORTEDLY IMF NOTES PREPARED FOR A G20 MEETING CUT 2008 EURO ZONE GROWTH FORECAST TO 1.4% FROM 1.7%, AND 2009 FORECAST TO 0.9% FROM 1.2% -- UNCONFIRMED REPORT
[08:54] {Threei} - also trims 2008 world growth forecast to 3.9% from 4.1%, and 2009 to 3.7% from 3.9%
[09:02] {GeoArb} gm
[09:02] {Threei} morning Geo
[09:06] {Threei} LEH looks unhealthy
[09:06] {Threei} (again)
[09:07] {Threei} 08/24/08 06:13pm
[09:07] {Threei} [LEH] Lehman Brothers Holdings Inc Summary: The latest on the potential Lehman/Korea Development Bank deal
[09:07] {Threei} - The London Times reports that the Korea Development Bank (KDB) has refused to rule out bidding for Lehman Brothers, but has hinted that any approach would not be imminent. In an interview over the weekend, KDB sought to play down an earlier statement in which it had said that it was open to an approach on the bank. "We are just at an early stage of privatization, and we are weak at investment banking by international standards. In the long term, we should strengthen that weakness," said a representative of KDB.
[09:07] {esemde} morning
[09:08] {Threei} ese :)
[09:08] {esemde} how the mighty fall.....
[09:08] {Threei} with thunder?
[09:10] {Threei} oh wake up.... this is my first attempt at humor, I need little encouragement on Monday morning
[09:10] {Threei} eyelids are too heavy
[09:11] {Onix} they fell ... "splat!"
[09:12] {Threei} like USO
[09:13] {Threei} watching UAUA reaction
[09:13] {Threei} working assumption so far is,
[09:13] {Onix} CNBC talking about second wave of credit crunch
[09:13] {Threei} uncoupling between USO and UAUA started, with negative bias for UAUA
[09:13] {Threei} we saw lat week how it weakened despite USO drop
[09:14] {Threei} so either it starts traading on its own and we have no leading indicator for it anymore,
[09:14] {Threei} or it drops with USO strength while not really goes up with USO weakness
[09:15] {Threei} Third option is, that day was a fluke, and corellation is intact
[09:15] {Threei} will see
[09:16] {dino} gm all
[09:16] {Threei} dino :)
[09:17] {magoo} morn
[09:17] {Threei} magoo :)
[09:17] {Threei} slacker
[09:17] {Threei} people were looking desperately for you on Friday
[09:18] {Threei} wanted to slap someone with a trout
[09:18] {Threei} and you were not here
[09:18] {Threei} (hint: you made laserdave miserable)
[09:18] {fernp} Good morning all
[09:18] {Threei} fern :)
[09:19] {Threei} ISCan users, everyone got e-mail over weekend?
[09:21] {peterg} gm all; yes to email
[09:21] {Threei} peter :)
[09:22] {Threei} as much as premarket chart can be trusted, LEH is short under .64 with stop above .80
[09:22] {Threei} opening tends to be supervolastile for it
[09:24] {cosmo} GILT seems to hold 7.50 ..so far fwiw
[09:25] {magoo} what, laser was getting magoos share of slaps?he he
[09:25] {Threei} oh, he has enough on his own... he just didn't have you to reciprocate
[09:25] {magoo} ahhhhhhhhh
[09:26] {Onix} yes thanks, got iscan email
[09:26] {Threei} :)
[09:27] {Threei} FNM, 4.50 breakdown is tempting short
[09:27] {Threei} maybe good idea to skip first minutes and let market exhaust it's opening volatility
[09:28] {Threei} hard to tell... dying days of August
[09:28] {GeoArb} anyone in LEH?
[09:28] {cosmo} dying?
[09:29] {Threei} if you are in, keep stop above .80 religiously and look for fast spike down to cover, Geo
[09:30] {judijim} good morning all
[09:30] {Threei} jj :)
[09:31] {magoo} vad, u watching LDK?
[09:32] {dino} hway
[09:32] {Threei} yes mags but not to play it itself,
[09:32] {Threei} rather as leading indicator for SOLF
[09:33] {GeoArb} uaua oil seems intact
[09:33] {magoo} well solf looking to bounce
[09:33] {Threei} SOLF sold off sharply
[09:33] {Threei} looks attractive
[09:33] {Threei} tough to time it yet
[09:33] {Threei} .50 breakl
[09:33] {Threei} stop under .30
[09:33] {magoo} .49
[09:34] {GeoArb} wow fast and big spread
[09:34] {Threei} feel free to take profit
[09:35] {magoo} out .74 TY
[09:35] {Threei} morning warm-up
[09:35] {GeoArb} magoo curious? you bid or lifted offeR?
[09:35] {magoo} yeah, my entry was slow
[09:35] {magoo} lol
[09:36] {magoo} i just saw it moving , momo coming in and took .49 offer
[09:37] {magoo} when i wanyt in i want in
[09:37] {magoo} ill talke offer
[09:37] {GeoArb} ok lifted offer... really quick magoo :)
[09:37] {Threei}
Long Setup:
0,3 CPSL .15 trigger if stays above 5
[09:37] {magoo} all day trade vasd?
[09:37] {Threei} yes
[09:37] {magoo} ugg
[09:38] {magoo} solf just then stretched my time allotment
[09:40] {Threei} what's with MITI?
[09:40] {esemde} long NVDA again .44
[09:41] {dino} hway sm l .40
[09:42] {Threei} solars are strong
[09:43] {esemde} very
[09:43] {magoo} but FSLR down
[09:43] {dino} spwr too
[09:43] {esemde} my entire screen is green
[09:44] {Threei}
3,0 Attention: CPSL 1:1, half out, stop for the balance to 5.09; scalpers take profit
[09:45] {magoo} dammit, that WAS NOT all day
[09:45] {Threei} sorry
[09:45] {fernp} out. TY Vad
[09:45] {GeoArb} nice vad
[09:45] {Threei} welcome
[09:45] {GeoArb} erase my LEH fat finger
[09:46] {Onix} out CPSL for 17c thanks Vad
[09:46] {Threei} want to see if .32 bid is real
[09:46] {Threei} hmm... it is
[09:46] {esemde} gj onix
[09:46] {Threei} onix :)
[09:46] {GeoArb} looks real
[09:46] {GeoArb} counting dwon
[09:49] {Threei} SQNM?
[09:49] {Threei} 40 cents spike, no news
[09:51] {GeoArb} tol? DBI?
[09:53] {Threei} .45 short if holding below .60
[09:53] {magoo} which?sqnm
[09:53] {Threei} answerin Geo on TOL
[09:53] {dino} wynn
[09:54] {Threei}
3,0 Attention: CPSL stop to .14 for the balance
[09:56] {esemde} nice move by cpsl
[09:58] {Threei}
3,0 Attention: CPSL 1:2, 1/4 more out
[09:58] {Threei} stop to .19 for the balance
[09:58] {GeoArb} i feel small as a scalper
[09:58] {Threei} nothing's wrong with Monday morning scalp
[09:59] {GeoArb} i made an interesting mistake in LEh.... was modifying my stop and sent it at current price hehehehe
[09:59] {GeoArb} -93
[09:59] {Threei} why do you need hard stop on such a trade?
[10:00] {GeoArb} was a mistake...
[10:00] {dino} cedc sm l .80
[10:00] {Threei} *JULY EXISTING HOME SALES: 5M V 4.91ME
[10:00] {GeoArb} back in black
[10:00] {Threei} wow
[10:00] {Threei} housing crisis is over... life is good again
[10:01] {GeoArb} economist had an article on some numbers looking better
[10:01] {Threei} I mean, you are right here, it's a fast trade likely to resolve in minutes if not seconds
[10:01] {Threei} why mess with software instead of keeping manual stop
[10:01] {GeoArb} i had to ummm.. take a break :)
[10:02] {Threei} - July Median Existing Home Price: -7.1% y/y to $212K from $215K{XHB }
[10:02] {peterg} manual stop = finger?
[10:02] {GeoArb} yup
[10:03] {Threei} RMBS
[10:03] {Threei} TICKING HIGHER ON RENEWED TAKEOVER CHATTER
[10:04] {Threei} market is locked in narrow range
[10:05] {dino} cedc stopped -.34
[10:05] {esemde} CPSL has a good looking Daily also vad
[10:06] {Threei}
Consider Buying:
1,8 USO small shares above .15 if holding 93
[10:06] {esemde} was that a factor in buying
[10:06] {Threei} certainly
[10:06] {Threei} .15 was a break on daily
[10:06] {esemde} nice
[10:06] {Threei} 5.14 high from 08/15
[10:09] {esemde} NVDA has that look on it's 15min chart......
[10:09] {Threei} USO invalidated
[10:09] {Threei} don't see much enthusiasm on UAUA though
[10:09] {Threei} old times it would have spiked on such USO drop
[10:10] {Threei} trying now
[10:11] {Threei} still observing it, not sure it's playable
[10:11] {dino} nnbr
[10:13] {magoo} vad, news AAPL?
[10:17] {Threei} no
[10:18] {esemde} vad dcc please
[10:22] {Threei}
Long Setup:
0,3 SOLF .30 half lot if stays above .15
[10:24] {dino} pcln v sm l .05
[10:29] {dino} out hway .90, +.50
[10:30] {Threei} wtg
[10:30] {dino} ty
[10:30] {Threei} I guess I was too careful on UAUA, eh?
[10:38] {Threei}
Short Setup:
0,4 LEH .29 if stays below .40
[10:38] {GeoArb} wow what a drop
[10:38] {Threei} that was fast
[10:39] {Threei} don't chase it down, try to offer into bounce
[10:39] {Threei} in .18
[10:39] {Threei} .41 stop
[10:39] {Threei} needs to lose .20 for a nice continuation
[10:40] {Threei} sorry, in .28
[10:40] {GeoArb} vad i am confused....
[10:40] {GeoArb} thanks
[10:40] {GeoArb} i was thinking hows that not chasing
[10:40] {GeoArb} :)
[10:40] {Threei} especially considering it never went there, lol
[10:40] {GeoArb} yeah you must have access to the super secret ECN
[10:41] {Onix} in ss LEH .27
[10:48] {Threei} .40 resistance rejected LEH nicely so far
[10:49] {GeoArb} yes comon
[10:52] {Threei} holding too well during this market drop
[10:52] {Threei} would expect it to make new low already
[10:59] {GeoArb} me thinks we overstayed welcome...
[10:59] {Threei} looks like
[10:59] {Threei} stopped
[10:59] {GeoArb} out 41
[10:59] {dino} v sm wide l wynn .60
[10:59] {GeoArb} too many vested intrests in LEH
[11:00] {Onix} stopped out LEH -14c
[11:00] {GeoArb} you had a much better entry Onix
[11:01] {Threei} where did you enter?
[11:01] {Onix} yes, got in on little pullback
[11:01] {Onix} 13.27
[11:01] {GeoArb} i got filled at 22
[11:01] {esemde} electronics...go figure....was cut off again....i think i'm back
[11:01] {Onix} out @ .41
[11:01] {Threei} wow... you use market orders or what?
[11:01] {GeoArb} no a 5 cent sweep
[11:02] {Threei} 5 cents is abit too much for a play with 12 cents stop
[11:02] {GeoArb} i will revisit my order settings
[11:02] {Threei}
3,0 Attention: OUT cpsl in full
[11:02] {GeoArb} sheesh
[11:02] {Onix} wtg!
[11:02] {Threei} ty
[11:03] {Threei} +.44, not too shabby for $5 stock
[11:03] {GeoArb} 10%
[11:03] {GeoArb} thats just greedy
[11:03] {esemde} well done vad....and whomever else....
[11:03] {Threei} Greed is good (G.Gekko)
[11:04] {esemde} the man knew what he was talking about
[11:04] {Threei} :)
[11:05] {Threei} UAUA sizeable pullback
[11:06] {esemde} patience....the Oak Bay police caught that fellow who escaped from the Nanaimo jail at the Dairy Queen.....Thats just out your back door ....
[11:06] {GeoArb} so he went in for ice cream?
[11:07] {esemde} yes apparently
[11:07] {esemde} the criminal mind at work
[11:07] {Onix} what a sucker
[11:07] {patience} i can understand that, DQ is good
[11:07] {Roman}
21 STSI Star Scientific wins reversal of Tobacco patent verdict- Bloomberg (2.36 +0.69)
[11:08] {Roman}
21 goes to $7
[11:09] {esemde} whoaaaa......thats a jump
[11:10] {GeoArb} osip
[11:10] {Threei} TICKS UP AFTER US APPEALS COURT REVERSES AND REMANDS RULING IN CASE WITH RJ REYNOLDS OVER TOBACCO RELATED PATENTS
[11:10] {Threei} - "we reverse the district court's judgment of unenforceability of both asserted patents due to inequitable conduct. We also reverse the district court's grant of summary judgment of invalidity of all asserted claims due to indefiniteness and remand for further proceedings on the infringement complaint consistent with this opinion."
[11:10] {Threei} STSI that was
[11:10] {GeoArb} ndsn
[11:11] {GeoArb} oops
[11:11] {Threei} why 7 Roman?
[11:12] {Roman}
21 just looking at monthly
[11:12] {esemde} thats my question as well....
[11:12] {Roman}
21 that's where it jumped last time on the same news
[11:15] {esemde} interesting jump down in the TICK.....-1700 now allmost 200% there for a second
[11:18] {dino} lyme disease
[11:18] {esemde} too funny......
[11:18] {dino} :)
[11:19] {Threei} lol
[11:19] {Threei} just got it... I am slow today
[11:19] {GeoArb} i am still trying
[11:19] {GeoArb} ok :)
[11:20] {dino} really wasn't that good
[11:20] {Threei} consider the audience dino... we don't need much
[11:20] {esemde} dino's using that razor sharp wit the same way he picks bottoms in capitulations
[11:21] {dino} going to flaa asleep is what i'm going to do
[11:21] {dino} fall
[11:22] {dino} sm l odfl .00
[11:22] {peterg} odfl
[11:22] {esemde} happened to me for the first time last week....dozed off around noon and when i woke up you were all gone...
[11:23] {dino} lol
[11:24] {dino} odfl
[11:24] {Chaeron} be happy we didn't stick your hand in a bowl of warm water... :) good morning all
[11:24] {dino} gm
[11:24] {GeoArb} warm water hmmm
[11:24] {GeoArb} chaeron's being polite
[11:25] {esemde} CCCCCHHHHHHH BABY!!!!!!!!!\
[11:25] {Chaeron} heheheh... heyya ese!
[11:26] {esemde} man my screens are showing zilch today...........does that mean it's over analyze time?
[11:27] {dino} thin week imo
[11:27] {dino} should get ridiculous moves
[11:27] {peterg} finally august before september; who knows about sept?
[11:28] {peterg} the shadow knows
[11:28] {dino} ahhh, indeed he does
[11:28] {esemde} worst month for the market
[11:28] {esemde} historically
[11:28] {dino} last try cedc sm l .20
[11:28] {esemde} sorry...i;m wrong
[11:28] {esemde} october
[11:29] {esemde} FEED......break of .65 per chance
[11:29] {dino} means nothing
[11:30] {esemde} that should be your best month dino
[11:30] {esemde} all that panic
[11:30] {dino} oct and nov last year
[11:30] {esemde} you'd be eating it up
[11:30] {dino} worst last two years is june
[11:31] {esemde} puor quo....
[11:31] {esemde} pour quo...sorry
[11:31] {GeoArb} perke?
[11:32] {esemde} ha ha
[11:38] {dino} cedc stop to .65
[11:39] {dino} to .70
[11:40] {dino} to .80
[11:42] {dino} out slippage .76, +.56
[11:43] {esemde} another nice one dino
[11:44] {dino} ty es, lucky
[11:45] {dino} out wynn .22, +.62
[11:49] {Onix} FNM is moving well today?
[11:50] {Threei} pains me to say... but yes
[11:50] {Threei} I just can't bring myself to buy it today, lol
[11:52] {dino} because tomorrow it may be worthless'
[11:53] {Threei} more inclined to short them and no setup appeared
[11:53] {GeoArb} now?
[11:54] {Threei} ?
[11:54] {GeoArb} :0 es high oil low.....
[11:54] {GeoArb} oops
[11:54] {GeoArb} es low oil high
[11:54] {GeoArb} ok i am taking the day off
[11:54] {Threei} lol
[11:56] {Threei} marketis breaking down
[11:56] {GeoArb} see now? (i knew)
[11:58] {GeoArb} broke the low....
[11:59] {GeoArb} mgm on lows
[12:00] {dino} watching pcar, umbf, cpla fwiw
[12:01] {Threei} LEH won't break down with market
[12:02] {GeoArb} those koreans and their money
[12:02] {GeoArb} sheesh
[12:03] {GeoArb} wow oil
[12:07] {GeoArb} .
[12:10] {Threei} either market is less fun today or I can't wake up
[12:10] {GeoArb} off to work
[12:11] {GeoArb} LEH wasnt playing nice today
[12:11] {GeoArb} thanks vad
[12:11] {GeoArb} bye
[12:11] {Threei} nah, must be market... I never woke up last week either but trading was pure unbridled fun
[12:11] {dino} dji needs about 80 more down imo
[12:11] {Threei} take care Geo
[12:11] {dino} cya goe
[12:11] {dino} geo
[12:16] {dino} here it comes
[12:20] {dino} this market is funny. goes up 300 points in 2 days then gives it right back over and over
[12:24] {Threei} yeah, aimless wandering
[12:24] {Threei} nonetheless, good on intraday basis
[12:24] {Threei} can't find much today
[12:25] {Threei} if market recovers, look for another scalp on CPSL
[12:26] {Threei} .41 trigger if stays above .30
[12:26] {dino} not really aimless, pull up the dji,rough;y 11700 to 11300 for about 50 days
[12:31] {dino} pcar sm l .52
[12:33] {dino} cpla sm l .50
[12:33] {dino} spready
[12:37] {Threei} good thing I kept myself from attempt to re-short LEH as it retested the low
[12:37] {Threei} too bad didn't go long, lol
[12:46] {dino} brb
[12:52] {dino} pcar stuck, tighten stop to .37
06[12:57] * Threei slaps laserdave1 around a bit with a large trout
06[12:57] * Chaeron slaps laserdave1 around a bit with a large trout
[12:58] {Threei} dave, magoo is asleep
[12:58] {Threei} care to wake him up?
[12:58] {Threei}
Consider Buying:
1,8 UAUA .51
[12:59] {Threei} .34 stop
06[12:59] * magoo slaps laserdave1 around a bit with a large trout
[13:00] {Threei} UPDATE: OPEC SOURCE REPORTEDLY NOTES THAT OPEC IS NOT LIKELY TO ADJUST OUTPUT AT UPCOMING SEPT 9 MEETING - UNCONFIRMED REPORT
[13:00] {Threei} {USO}
[13:01] {magoo} in uaua vad
[13:01] {magoo} .51
[13:07] {Threei} feel free to take scalp as you see fit
[13:07] {Threei} I am out .65
[13:07] {peterg} ditto
[13:07] {Threei} easy money
[13:08] {Threei} sin not to take it
[13:08] {Threei} I am no sinner
[13:08] {peterg} praise be
[13:09] {Threei} day took too much of my patience to stay on a sideline
[13:09] {Threei} gootta take easy readable setup as a gift
[13:16] {esemde} have a great rest of the day......off to work
[13:17] {Threei} take care ese
[13:17] {fernp} bye ese
[13:34] {patience} is3
[13:38] {dino} pcar stop to .69
[13:38] {dino} cpla stop to .95
[13:46] {dino} out cpla ave .95 +.45
[13:47] {dino} out pcar .75, +.25
[13:47] {dino} .23 i mean
[13:50] {dino} knsy
[13:59] {Threei} flatile
[14:00] {Threei} ummm
[14:00] {dino} flatulence?
[14:01] {Threei} translation: flatline
[14:02] {Threei} FEED interesting consolidation
[14:02] {dino} rock
[14:02] {Threei} ideally, if it finishes here and breaks today's high tomorrow morning, I'd be all over it
[14:03] {magoo} news ROCK vad?
[14:03] {Threei} nothing fresh
[14:03] {dino} nope
[14:05] {dino} seems i'm waiting too low
[14:17] {Threei} yawn
[14:29] {Threei} don't see any news for this pil spike
[14:30] {Onix} Vad, your opinion please on trading Nasdaq stocks vs listed stocks?
[14:31] {Threei} not much difference anymore
[14:31] {Threei} used to be big difference
[14:31] {Threei} now that listeds are populated withECNs mostly, same thing
[14:31] {magoo} read on LDK vad?
[14:31] {Onix} ty
[14:32] {Threei} set routing to ISLD, make sure you have route out checked, you will bet practically same wxecutions
[14:32] {Threei} I don't have read on it mags, sorry
[14:32] {Threei} listless chart
[14:32] {Onix} ty
[14:33] {dino} onix, i play them, just notice more slippage of hard stops
[14:34] {peterg} hard as opposed to manual?
[14:34] {peterg} i.e. entered as order for future
[14:34] {dino} y
[14:34] {peterg} tks
[14:34] {Threei} what your stops are routed through dino?
[14:34] {Threei} if you can see that
[14:35] {dino} smartes/schwab cyber
[14:36] {Threei} do you have an option to switch to particular route instead of smart?
[14:36] {dino} not for shorts
[14:37] {Threei} OK... probably that's why, smart routes are a bit less efficient
[14:37] {dino} overall, works fine, just listed i manually hit
[14:38] {Threei} yup... and most likely no noticeable difference on NASDAQ
[14:38] {Threei} between manual and hard I mean
[14:39] {dino} correct
[14:46] {peterg} etymological derivation of "hard" for this usage, pls?
[14:46] {peterg} fingers are soft?
[14:47] {Threei} hardwired vs mental?
[14:47] {dino} when i say hadr stop, i mean it is entered
[14:47] {peterg} I get that, i am asking philosophical question.
[14:47] {peterg} historical type
[14:47] {Threei} dino... he thinks we can read, you see
[14:48] {peterg} how does this linquistic usage arise?
[14:48] {dino} i'm lost
[14:48] {peterg} who started saying hard stop?
[14:48] {peterg} you, dino?
[14:48] {dino} books and traders years ago
[14:48] {Threei} no, that's common definition
[14:49] {peterg} that would qualify as source, but we don't know what the appeal of "hard" was
[14:49] {peterg} ill shutup
[14:50] {Threei} lol
[14:50] {dino} remember peter, i try not to think, rather react
[14:50] {Threei} I pretend that I try not to think... in rality it comes quite naturally tome
[14:50] {peterg} good point
[14:50] {Threei} just like bad typing
[14:51] {peterg} I tried watching mkt this am with music on headphones.
[14:51] {peterg} it seemed good.
[14:51] {peterg} jj cale
[14:51] {Threei} trading require depth of thinking of "tree good, fire bad" kind
[14:51] {Threei} requires
[14:51] {dino} magoo and i het the music at 9:30 am, all day, cnbc on mute, or sports on....
[14:51] {dino} the news w/mess w/your trades imo
[14:52] {dino} hit the music
[14:52] {Threei} I think I know the answer but I'll ask anyway... if CNBC on mute, why on at all?
[14:52] {dino} lol, right now vh1
[14:53] {dino} think about it, all pre-market cnbc talking heads were we are out of the abys
[14:53] {dino} that will screw you up
[14:54] {peterg} news business is fear business
[14:54] {dino} who knows or cares if the "lows" are in, we had a 250 point down move and they had you loading up
[14:54] {Threei} qhwen the next stage of credit crunch, bank write-offs and bankruptsies comes, taking market much lower... how are those optimists going to justify their cheerleading?
[14:54] {dino} so.....put the music on when trading
[14:55] {peterg} I likes it
[14:57] {Threei} I am not in the end of the world camp, we will bottom out and have a very nice rally
[14:57] {Threei} but we are not there yet
[14:57] {peterg} Is Bill Cara still strong on holding bullion?
[14:58] {Threei} I don't really track gold-related topics
[14:58] {dino} dk
[14:58] {Threei} if I remember correct, he was no jazzed about it for now
[14:58] {dino} and yes vad, this too will pass
[14:59] {Threei} yeah... this time
[14:59] {Threei} but honestly,
[14:59] {Threei} policies must change
[14:59] {peterg} what policies
[14:59] {Threei} USA flirts with financial disaster too close for comfort
[14:59] {dino} but in the keep it simple dino plan.....do not listen to them when trading, get in "your" own zone
[15:00] {Threei} policies regarding credit, derivatives, spending
[15:00] {peterg} if we be goin down, let us be goin down tradin
[15:00] {peterg} ya yua ya live for today
[15:00] {Threei} deepening dept, free-for-all money printing
[15:00] {peterg} of course on serious note your right
[15:00] {peterg} time for serenity prayer
[15:01] {Threei} in Seinfield speak, Serenity NOW!!!
[15:01] {dino} none of it matters, just trade
[15:01] {peterg} here here to all
[15:01] {dino} they will do what they do
[15:02] {peterg} yep
[15:05] {Threei} here is an illustration to what dino says
[15:06] {Threei} had I not had this negative bias on financials, we would probably go long LEH and FNM at some point
[15:07] {Threei} [15:01] {dino} none of it matters, just trade {--- truer words were never spoken
[15:07] {dino} see, those are too crowded for my "way". too much thinking w/them
[15:07] {dino} i prefer the idiot set-ups
[15:08] {dino} watching wynn
[15:24] {Threei} if NQ finally breaks down, BRCM short for a scalp
[15:24] {Threei} bounced a bit on dropping volume, forming bear flag
[15:25] {Threei} closest resistance is.25
[15:28] {Onix} BRCM ss @ 26.09 if NQ drops?
[15:28] {Threei} no, I wouldn't chase it there
[15:28] {Threei} rather looking for a situation where NQ drops while BRCM gives little delay
[15:28] {Threei} so we can short it closer to resistance
[15:28] {Threei} keeps stop tighter
[15:29] {Onix} ok ty
[15:32] {Threei} looks like break's coming
[15:32] {Threei} in
[15:32] {Threei} .26 stop
[15:32] {Onix} in @ .19
[15:40] {Threei} quite boring day
[15:40] {Threei} happens often on Mondays, let's hope market wakes up tomorrow
[15:43] {Threei} http://realitytrader.com/vad/Mondays-Suck-Video.wmv
[15:44] {dino} ok i was a bit early on my 80 extra points
[15:44] {dino} 40 to go
[15:49] {Onix} stpped
[15:53] {Threei} there is always tomorrow dino
[15:55] {dino} y
[15:56] {dino} i will be here. ok day just dead afternoon
[15:56] {Threei} yeah
[15:56] {Threei} morning was also not as active as last week
[15:58] {dino} most likely this way all week, reminds me of friday
[15:58] {Threei} could be, last week of August
[15:58] {Threei} long weekend looming
[15:59] {Threei} anyway... we will take what we can find and wait patiently for more
[15:59] {Threei} OK guys, thank you all
[15:59] {Threei} have a good evening, see you tomorrow
[15:59] {dino} out odfl .95 -.05
[16:00] {Onix} ty Vad ... enjoyed the day with you all, bye
[16:00] {dino} l8r onix