Friday, September 5, 2008

Sep 05 2008

Session Time: Fri Sep 05 00:00:00 2008

[08:07] {Threei} {USO}
[08:11] {Threei} - Consensus expectations at 5.6% vs 5.5% prior
[08:11] {Threei} - Reminder July's 5.7% reading were the highest since March 2004
[08:29] {magoo} morning
[08:29] {Threei} magoo :)
[08:30] {magoo} minus84k
[08:30] {magoo} 6.1%
[08:30] {Threei} *AUG UNEMPLOYMENT RATE: 6.1% V 5.7% PRIOR
[08:31] {Threei} - Prior Jun Nonfarm Payrolls revised Higher from - 51K to -60K
[08:31] {Threei} - Prior Manufacturing Payrolls revised Lower from -35K to -38K
[08:31] {Threei} gap down is good
[08:31] {_andresy} Morning
[08:31] {Threei} lays the foundation for a bounce later on
[08:31] {magoo} better than gap up
[08:31] {Threei} adnresy :)
[08:31] {Threei} yeah, gap up would have been sold into
[08:32] {_andresy} rimm 3.06% down
[08:33] {Threei} oil new lows
[08:39] {magoo} vad, wheres support for rIMM?3 month low was 106
[08:39] {Threei} just under 102, next is 100
[08:39] {Threei} but you know how support is
[08:40] {Threei} it's holding until it doesn't
[08:40] {magoo} whats with UST up 12
[08:40] {Threei} 100 is quite pronounced
[08:41] {Threei} 09/04/08 09:46pm [UST] Altria in talks to buy UST, in a deal valued at $10B, according to the NY Timesmore.. - NY Times said that the acquisition, which is at a delicate state and could still fall apart, would be Altria’s first major purchase since the company split in March, spinning off Philip Morris International to become an independent company focused on the overseas tobacco business and giving the Altria name to Philip Morris USA. People involved in the transaction were planning to work through the weekend to complete the deal as soon as Monday, the paper added(related: MO )
[08:44] {_andresy} Vad, where do you see a possible support for VLO?
[08:46] {Threei} around 32.50... but VLO is a bit different animal
[08:47] {Threei} the way it trades is influenced by stories and fundamentals to greater degree than your normal stock
[08:49] {_andresy} Good to know that
[08:49] {cosmo} SPNC tries to bounce
[08:49] {magoo} what u stalking vad?
[08:50] {Threei} 09/04/08 09:17pm [SPNC] Confirms federal investigation, jointly served by the FDA and ICE with a search warrant
[08:51] {Threei} usual suspects so far
[08:51] {cosmo} needs to hold 5
[08:51] {cosmo} should hold 5.10
[08:51] {cosmo} imho
[08:53] {magoo} vad, u usually have good "overall"feel..what u suspect today happens?
[08:53] {Threei} initial selling followed by strong bounce and green close
[08:54] {magoo} now thats conviction
[08:54] {Threei} just a working assumption
[08:54] {magoo} instead opf one word u "infamous" in "up" lol
[08:55] {Threei} well... let's try it
[08:55] {Threei} down, then up
[08:55] {Threei} better? :)
[08:55] {magoo} no..liked the other
[08:55] {Threei} ugh... more typing for me
[09:05] {Threei} interesting
[09:05] {Threei} - In the papers: The NY Times article suggested that Main Bank of China is in Need of Capital after a seven year buying spree of around $1 trillion worth of Treasury bonds and mortgage-backed debt issued. The article noted that these investments have been declining sharply in value when converted from dollars into the strong CNY, casting a spotlight on the central bank's tiny capital base. The bank's capital, just $3.2 billion, has not grown during the buying spree, despite private warnings from the IMF
[09:06] {_csepulve33} good morning
[09:07] {Threei} csepulve :)
[09:08] {_csepulve33} maybe more initial selling today
[09:08] {Threei} [08:53] {magoo} vad, u usually have good "overall"feel..what u suspect today happens?
[09:08] {Threei} [08:53] {Threei} initial selling followed by strong bounce and green close
[09:09] {_csepulve33} yes I agree
[09:10] {Onix} Good morning all you brave people
[09:13] {pita} gm all
[09:13] {Threei} onix, pita :)
[09:14] {fernp} Good Morning all
[09:14] {Threei} fern :)
[09:15] {dino} gm all
[09:18] {peterg} gm all
[09:19] {peterg} watching RIMM
[09:19] {Threei} dino, peter :)
[09:19] {magoo} im interested in RIMM AAPL and bidu today..
[09:20] {magoo} if i make call..its a max loss of $ size accordingly
[09:20] {magoo} ill be taking 300 shares..which gives me a lil room to avoid rinsde
[09:20] {esemde} good morning all....still swing long NVDA
[09:20] {magoo} RIMM 3 month low..3 is 106 area
[09:22] {esemde} I have a couple swing trading times of the year......Sept, Decembe and June
[09:22] {dptl} good morning all
[09:22] {esemde} dp
[09:23] {dptl} ese:)
[09:23] {Threei} ese, dp :)
[09:23] {esemde} morning vad......
[09:24] {peterg} not trade RIMM premkt?
[09:24] {peterg} too risky?
[09:24] {Threei} nah
[09:24] {Threei} let the dust settle
[09:24] {peterg} resist temptation
[09:24] {peterg} easy to become one with greed
[09:25] {esemde} is that Gordon Gecko also peter
[09:25] {peterg} Gorden did it better!
[09:25] {dino} relax guys, let it come to you
[09:25] {peterg} there ya go
[09:26] {tomg} gm all
[09:26] {Threei} tom :)
[09:26] {dino} lets remember a few rules
[09:26] {dino} good trading is not about being right, its' about trading right
[09:27] {dino} think in probabilities
[09:27] {dino} use your edge, manage your risk, be consistant, keep it simple
06[09:27] * Threei retires
[09:27] {dino} don't blame market or others for errors
[09:27] {cosmo} all fridays are 'good'
[09:27] {esemde} big volume SNDK......up 3pts
[09:27] {Threei} buyout negotiations with Samsung, SNDK
[09:28] {dino} trading is not a sprint, its' boxing. you must remain in the ring
[09:28] {dino} risk is your friend, however traders expect to lose regularly
[09:29] {dino} and thats' it in a nutshell from me
[09:29] {_csepulve33} get ready for the battle
[09:29] {peterg} sound of sustained applause
06[09:29] * Threei reiterates his retirement
[09:29] {peterg} thks dino
[09:30] {peterg} threei please stay
[09:30] {Threei} no need
[09:30] {esemde} shiskabob restaurant then vad?
[09:30] {patience} dino in the coach's corner....every morning words of wisdom
[09:30] {Threei} dino just told you everything you need to know, I have nothing to add :)
[09:30] {dino} i'm blushing
[09:31] {dino} keep an eye on pcln, held well yesterday
[09:37] {dino} watching ges, afam, pcln, ilmn
[09:37] {dino} rimm
[09:37] {dino} need coffee
[09:38] {dino} advantage to magoo arriving first, coffee is ready
[09:38] {Threei} lol
[09:38] {Threei} jeez TGIC
[09:38] {Threei} RAMR is trying to follow
[09:40] {Roman} HOKU radar, news last night
[09:40] {esemde} ha i know just missed it at .50 didn't want to chase
[09:40] {esemde} tgic that is
[09:41] {Threei} 09/04/08 04:10pm [HOKU] Signs ten-year, $455M polysilicon supply deal with Solargiga in China
[09:41] {dino} 10962 in the cards
[09:41] {Threei} RAMR looks to be next to jump
[09:45] {esemde}
[09:45] {Threei} nothing today
[09:46] {esemde} bstop SPNC .50
[09:46] {dino} pcln sm l .25
[09:46] {dino} wide
[09:47] {Threei} SNDK is not done it looks like
[09:48] {Threei} if pulls back to around .20, worth an entry
[09:48] {esemde} spnc....bstop invalidated
[09:49] {Threei} stop under 17 so size accordinglyu
[09:49] {Threei} in
[09:50] {magoo} where?
[09:50] {Threei} .15
[09:52] {magoo} .11
[09:53] {magoo} out .04
[09:53] {Threei} yeah, no worky
[09:53] {magoo} no like mkt fall here
[09:54] {magoo} its avail short vad
[09:54] {judijim} good morning all
[09:54] {Threei} jj :)
[09:55] {Threei} Long Setup: PMI .41 if stays above .30
[09:58] {Threei} Short Setup: AMLN
[09:58] {Threei} .79
[09:58] {Threei} stop above 21
[10:00] {Threei} *US Q2 MORTGAGE DELINQUENCIES: 6.41% V 6.35% PRIOR
[10:00] {esemde} vsea long .30 1/2
[10:00] {Onix} ss AMLN .79
[10:01] {dino} v sm l ilmn .45
[10:01] {esemde} make that .98...thought it was .30
[10:02] {esemde} vsea stopp .88
[10:03] {Roman} long URRE
[10:03] {Roman} small
[10:03] {Roman} 3.02
[10:04] {esemde} out VSEA .32 +.34
[10:04] {Threei} wtg
[10:05] {esemde} lucky fill on .32 i think
[10:06] {dino} gj
[10:11] {Threei} AMLN stop to .88
[10:13] {Threei} out
[10:13] {Onix} AMLN stopped
[10:14] {Threei} better keep them tight than get caught in too violent move today
[10:15] {Threei} there you go
[10:17] {esemde} L ADCT .88 3/4
[10:18] {esemde} tight stop .80
[10:20] {dino} abm
[10:20] {Threei} DBI Setup: AKAM .93 trigger if stays below 19
[10:22] {Threei} Short Setup: KLAC into this bounce, stop above 34
[10:22] {Threei} try to get it as close to .90 as possible
[10:23] {Onix} in AKAM .93
[10:24] {Threei} SPNC
[10:25] {esemde} out ADCT .88 + .00 even....seen this before...topping out
[10:26] {Threei} if you got KLAC .85 or so, cover half here
[10:26] {Threei} AKAM 1:1, half out, scalpers cover in full
[10:27] {Onix} AKAM 11c ty Vad
[10:27] {dino} ges sm l .90, stop .49
[10:28] {fernp} out AKAM ty Vad
[10:28] {Threei} welcome guys
[10:28] {Threei} new 52 week lows on both, AKAM and KLAC
[10:28] {peterg} tks vad, +.09 avg
[10:28] {dptl} +.10 akam ty
[10:29] {Threei} NVDA is holding admirably well
[10:29] {Threei} so does CSCO
[10:29] {Threei} start making your list of candidates for whwen the market recovers
[10:29] {Threei} RMBS strong
[10:30] {Threei} maybe on the back of SNDK, not sure
[10:34] {Threei} cover KLAC in full
[10:37] {dino} afam v sm l .10
[10:38] {esemde} nvda is looking good against the indexes......usually it follows them to the letter
[10:38] {Threei} yes
[10:38] {Threei} [10:29] {Threei} NVDA is holding admirably well
[10:39] {peterg} ese, how long r u thinking of holding nvda for?
[10:39] {peterg} or how are you thinking about yr swing trade?
[10:39] {esemde} L JNPR .04 3/4
[10:40] {esemde} stop .89
[10:42] {esemde} somwhere around 15 or'll take awhile......some extra funds hanging around so they might as well be put to use
[10:44] {esemde} it's had the crap beat out of it and it may hang around here awhile but i can wait it out on this one peter
[10:44] {peterg} thks es
[10:45] {esemde} this is a good time of the year for me to do a swing trade because i'm back teaching and this is a very busy time for me
[10:46] {peterg} begng of sch yr is insane
[10:46] {peterg} I have HS sr and coll. sophmore
[10:47] {esemde} Jnpr ...stopped -.15
[10:47] {dino} i believe you will be right es
[10:49] {esemde} sod......crawl lower than a snakes belly in a wagon rut.....sheesh
[10:49] {esemde} time wil tell dino
[10:51] {esemde} peter are you a teacher?
[10:51] {peterg} part time for no pay
[10:51] {esemde} for no PAY!!!!!!!!!!
[10:52] {peterg} it is an honor
[10:52] {peterg} and stupid
[10:52] {peterg} but tradition in field of mental health
[10:52] {peterg} of which I am always sorely in need
[10:52] {esemde} what do you teach
[10:52] {peterg} how to do psychotherapy
[10:52] {peterg} help
[10:53] {esemde} ahhhhhhhh
[10:53] {esemde} we need that on this board
[10:53] {esemde} vad is the worst of course
[10:53] {peterg} I think Judy and Jim may have it covered, too
[10:53] {Threei} and proud of it
[10:54] {esemde} stocks like jnpr drive me to drink at vads house
[10:54] {peterg} I knew I was in the right crowd when I read Vad's creation of treading alter ego.
[10:54] {peterg} You must meet mine someday
[10:54] {Threei} I am ready to pour
[10:54] {esemde} ha ha ha ha good one
[10:55] {peterg} drinx are on me
[10:55] {esemde} ok done......we'll mkae it there one day
[10:56] {peterg} RIMM edging down
[10:56] {Threei} what's wqith EMKR?
[10:56] {dino} rimm wants 99.60s imo, taking strikes earlier this month
[10:57] {dino} ok, about 90 points more dji
[10:57] {dino} july lows
[10:58] {Threei} AMLN shook us out
[11:04] {Threei} another wave of selling is coming... then will start hunting for a bounce
[11:04] {Threei} RIMM gets interesting for a snapback
[11:04] {Threei} .50 support
[11:06] {Threei} grrr... missed
[11:06] {Threei} hopefully we get one more pullback
[11:08] {Threei} OK, in
[11:08] {Threei} stop under .50
[11:11] {Threei} sheesh
[11:12] {magoo} jesus christ wouldn't the shorts cover
[11:12] {magoo} man, bidu down like 60 points in 5 days
[11:13] {dino} grmn fast fall
[11:13] {Threei} whack the mole continues
[11:15] {Chaeron} Good morning all
[11:15] {Threei} chaeron :)
06[11:15] * Chaeron slaps magoo around a bit with a large trout
[11:15] {Threei} Long Setup: AKAM .93
[11:15] {Threei} stop .85
[11:16] {dino} out ges .29 +.39
[11:16] {dino} pig should've had a buck in it
[11:25] {dino} do we trust this move
[11:26] {_csepulve33} good bye and thanks to all
[11:26] {Threei} take care csepulve33
[11:27] {Threei} AKAM 1:1
[11:29] {fernp} out AKAM ty Vad
[11:29] {Threei} :)
[11:31] {dino} gj
[11:39] {Threei} Long Setup: KLAC .51 if stays above .40
[11:47] {magoo} pretty good reverse in AAPL
[11:47] {dino} up we go
[11:47] {Threei} looks like
[11:50] {dino} v sm s skf .30
[11:50] {dptl} klac valid?
[11:50] {Threei} if not losing .40 anymore
[11:51] {dptl} ok ty
[11:53] {dino} all is well again
[11:53] {Threei} yup
[11:53] {Threei} what me worry?
[11:54] {Threei} LEH nice buying pressure
[11:56] {Threei} AKAM out in full
[11:56] {Threei} +.25
[11:58] {Threei} scratch KLAC here if you are in
[11:59] {magoo} there recent news RIMM..its really wounded
[12:00] {Threei} nothing
[12:00] {magoo} at least aapl has power to recover
[12:00] {dino} skf bstop to 119.20
[12:01] {esemde} have a good weekend aalll!!!
[12:01] {peterg} bye ese
[12:01] {Threei} take care ese :)
[12:02] {dino} cov 118.18, +2.12
[12:03] {peterg} wtg
[12:03] {Threei} beauty
[12:05] {dino} ty
[12:06] {dino} ilmn stop to .09
[12:09] {dino} make it .20
[12:09] {magoo} l rimm noew .71
[12:10] {magoo} stop.50
[12:10] {magoo} 300 sh
[12:11] {dino} to .45
[12:11] {pita} have a good day everyone; cu Monday
[12:11] {Threei} take care pita
[12:11] {dino} to .55
[12:12] {dino} to .65
[12:12] {dino} out .65 +1.20
[12:13] {magoo} sheesh..hit 105
[12:14] {dino} you guys are tough
[12:17] {magoo} we atre just used to dino trading in dollsars
[12:17] {magoo} so no big deal
06[12:23] * laserdave1 slaps Threei around a bit with a large trout
06[12:23] * magoo slaps Threei around a bit with a large trout
[12:24] {dptl} rmbs?
[12:24] {dino} celg
06[12:25] * Chaeron slaps laserdave1 around a bit with a large trout
[12:28] {dino} celg can't find news
06[12:29] * laserdave1 slaps Chaeron around a bit with a large trout
06[12:29] * laserdave1 slaps magoo around a bit with a large trout
06[12:29] * magoo slaps laserdave1 around a bit with a large trout
[12:30] {dino} sm l .40 risky
06[12:30] * magoo slaps Chaeron around a bit with a large trout
[12:30] {Threei} wasn't sure about RMBS
[12:30] {Threei} market spike resolved it
[12:33] {dino} stop to b/e
[12:34] {dino} strange
[12:34] {Threei} green flashed on DJI for a second
[12:34] {magoo} one helluva call u hasd this premkt boss...thats why i ask..u usually have good feel
[12:34] {Threei} ty
[12:34] {Threei} I have my moments
[12:37] {dino} lol
[12:40] {dino} stopped celg flat greed got me, had .50
[12:46] {dino} now it goes
[12:47] {dino} there goes the ges buck too, ugh
[12:51] {dino} out afam .70, +.60
[12:52] {Threei} UAUA is preparing for a break possible
[12:54] {dino} mdvn sm l .60, stop .33
[12:58] {dino} celg sm l .50
[13:08] {Threei} green
[13:09] {magoo} i see red lol
[13:09] {Threei} blinks fast, don't take your eyes off :)
[13:11] {magoo} laser dcc
[13:12] {Threei} green, look fast
[13:13] {dino} bucy moving, will joyg go w/it
[13:15] {dino} pcln stop to .29
[13:16] {dino} celg stopped terrible
[13:16] {dino} out pcln .39 +1.14
[13:16] {Threei} nice
[13:22] {peterg} has dino got all the money now?
[13:22] {Threei} yeah
[13:22] {dino} not
[13:22] {dino} smaller size today
[13:22] {dino} over goal
[13:22] {peterg} modest
[13:22] {peterg} good 4 u
[13:23] {dino} just lucky
[13:24] {Threei} - predicts losses from the financial crisis will exceed $500B
[13:24] {Threei} 500B? don't look now
[13:25] {Threei} if I promise to be fiscally responsible, can I have 1/500 of that?
[13:26] {Threei} 5 points bounce RIMM
[13:27] {Threei} (and it's still red, LOL)
[13:33] {dino} out mdvn .20, +.60
[13:34] {dino} spiked right into my layout
[13:34] {dino} celg comes back, sheesh
[13:41] {cosmo} spnc too
[13:42] {peterg} Popeye eats spnc to get strong
[13:44] {dino} i yam what i yam
[13:44] {peterg} that's it!!
[13:44] {dino} and "i will gladly pay you tomorrow for a hamberger today"
[13:44] {dino} hamburger
[13:44] {cosmo} spnc has some could do a 'popeye' i say
[13:45] {dino} so could olive
[13:46] {cosmo} seems to be biting through the can still....
[13:48] {cosmo} 5.85 hod
[13:49] {peterg} u in?
[13:49] {peterg} cosmo?
[13:49] {cosmo} always...
[13:49] {peterg} ok
[13:50] {cosmo} once you're in, you're in for good...
[13:50] {Threei} lol
[13:50] {dino} brb
[13:51] {peterg} whats the line from hotel california, you can check out but never leave
[13:51] {peterg} :
[13:51] {peterg} ?
[13:53] {Threei} Last thing I remember, I was
[13:53] {Threei} Running for the door
[13:53] {Threei} I had to find the passage back
[13:53] {Threei} To the place I was before
[13:53] {Threei} ’relax,’ said the night man,
[13:53] {Threei} We are programmed to receive.
[13:53] {Threei} You can checkout any time you like,
[13:53] {Threei} But you can never leave!
[13:53] {peterg} wonderful!
[13:53] {peterg} metaphor for life?
[13:53] {cosmo} the Prisoner?
[13:54] {cosmo} checking..
[13:54] {Threei} 20 cents scalp SPNC, thanks cosmo
[13:55] {cosmo} quitter...
[13:58] {cosmo} .89 stop
[13:59] {peterg} listenin to Hotel California..... memories
[14:00] {cosmo} ... i had a bad experience with that album...
[14:00] {magoo} like "life in the fastt lane"
[14:01] {cosmo} loud neighbors
[14:01] {cosmo} the music anyway...they were all passed out
[14:01] {peterg} thats baad
[14:02] {peterg} enuf to sour you even on the sacred song?
[14:02] {GeoArb} hi just visiting as cant keep away.... Am going to be in DC till thurday :(
[14:02] {peterg} hey geo
[14:02] {cosmo} they took it to the limit..
[14:03] {peterg} was this the time of my youth? the sixties?
[14:03] {peterg} maybe the album wasnt even out then
[14:03] {peterg} dont remember hahaha
[14:05] {dino} 70s
[14:06] {Threei} Geo :)
[14:07] {magoo} funny..u call it album..not cd lol
[14:08] {peterg} showin age
[14:09] {cosmo} hmm... maybe the cd is better...
[14:09] {peterg} vinyl supposed to have more depth, resonance.
[14:10] {dptl} lol...cosmo
[14:12] {cosmo} spnc 6.10 test some point
[14:23] {Threei} oil sharp drop
[14:29] {Threei} and sharp spike
[14:30] {Threei} someone's throwing darts or what
[14:32] {magoo} vad..what would logic sugest?
[14:32] {magoo} power up or sell off into bell
[14:33] {Threei} can't tell really
[14:34] {magoo} why?
[14:34] {Threei} maarket is so hesitant here, hard to read its intention
[14:34] {Threei} whole bounce looked quite labored
[14:35] {Threei} no that lovely violent rally of relief
[14:35] {Threei} rather "well, technically I have to bounce here, so be it... there, happy now?"
[14:36] {Threei} makes me think more selling next week
[14:38] {magoo} smart guy u be
[14:39] {Threei} good looking too
[14:40] {magoo} and modest
[14:40] {Threei} too modest I'd say
[14:40] {magoo} too good lookin i'd say
[14:41] {magoo} see..i need to borrow some cash so suckin up here
[14:41] {Threei} who's magoo?
[14:45] {magoo} l aapl here .20
[14:45] {magoo} sm
[14:46] {magoo} stop .89
[14:48] {_andresy} Good bye, and thanks to all of you
[14:48] {dino} sm l afam .02
[14:48] {Threei} take care andresy
[14:49] {_andresy} You too
[14:49] {magoo} yes..take care
[14:50] {dino} cya andresy
[14:52] {Threei} - Biggs cites recent decrease in price of oil that may establish a short surge in consumer spending
[14:55] {magoo} RIMM trying for green
[14:56] {Threei} everything went green
[14:56] {Threei} DJI, COMP, SP, NQ
[14:58] {magoo} aapl trying green
[14:59] {dino} afam out .51 +.49
[15:14] {magoo} short rimm .60 now small
[15:16] {magoo} looking for loss of 106
[15:18] {magoo} nope
[15:19] {magoo} RIMM sux anymore
[15:20] {peterg} how about that nvda
[15:21] {dino} sm l gldd .75, stop .48
[15:21] {peterg} swing, a la ese
[15:21] {Threei} yeah... slow and narrow but works
[15:22] {dino} kind of mean to say about es
[15:23] {Threei} lol
[15:23] {Threei} too bad we will forget about it till Monday... he would love it
[15:24] {dino} indeed
[15:24] {magoo} ruimm gonna lose 106..back in sh .71
[15:25] {magoo} god dammit
[15:25] {dino} fixated on it
[15:27] {dino} cach spike
02[15:28] * Disconnected