Sep 16 2008

Session Time: Tue Sep 16 00:00:00 2008
[08:09] {Threei} IMF CHIEF STRAUSS KHAN: CREDIT CRISIS UNPRECEDENTED, GLOBAL ECONOMY WILL SLOW BETWEEN 0.5-2.0% OF GROWTH
[08:09] {Threei} - Notes the fact that a certain number of banks in the U.S. are restructuring shouldn't lead to panic
[08:09] {Threei} - Says some parts of the world are more or less affected, but the slowdown is general
[08:09] {Threei} - Adds some positive developments, including the oil price which has dropped below $100 a barrel and said the IMF would predict an economic upturn in 2009 in its next forecast in October.
[08:09] {Threei} so... he is predicting what they will predict
[08:09] {Threei} Nostradamus on steroids, I see
[08:12] {Threei} GS earnings before open
[08:13] {Threei} AIG
[08:13] {Threei} NEW YORK GOV PATTERSON: AIG HAS ONE DAY TO RESOLVE ITS PROBLEMS
[08:14] {Threei} and then?
[08:14] {Threei} at the rate it's dropping, even one day seems eternity
[08:15] {Threei} GS
[08:15] {Threei} REPORTS Q2 $ V $1.71E, R $6.04B V $6.23BE
[08:15] {Threei} Q2 $1.81 V $1.71E
[08:17] {Threei} short a little BAC
[08:17] {Threei} GS dropping has a chance to take it down too
[08:18] {Threei} oil 91
[08:25] {Threei} AIG
[08:25] {Threei} PRICE TARGET LOWERED TO $3 FROM $6 AT CREDIT SUISSE; MAINTAINS NEUTRAL RATING
[08:25] {Threei} brilliant
[08:25] {Threei} target is reached
[08:27] {magoo} jhfhfhehgdhhdgmdhg
[08:27] {Threei} lkdohutmsndjeoitrm
[08:27] {Threei} sever dump GS
[08:27] {Threei} die BAC
[08:28] {Threei} with two heavy weights on your ankles, what business do you have floating on the surface
[08:29] {magoo} where u in sh?
[08:29] {Threei} .40
[08:29] {magoo} any bounce mnay be nice GS short
[08:30] {Threei} AUG CONSUMER PRICE INDEX M/M: -0.1% V -0.1%E;
[08:30] {Threei} Y/Y: 5.4% V 5.5%E;
[08:31] {Threei} CPI EX FOOD -ENERGY M/M: 0.2% V 0.2%E; CPI NSA: 219.086 V 219.300E
[08:33] {Threei} not sure why BAC is somewhat immune to selloff so far
[08:33] {Threei} maybe it's seen as one who survives no matter what
[08:33] {Threei} or maybe shorting finnies became too obvious
[08:34] {Threei} and it's time to flush out overconfident shorts
[08:34] {Threei} and as if there was not enough excitement yet, we have FOMC rate decision today
[08:34] {Threei} which was no brainer till yesterday
[08:34] {Threei} but now there is a streetwide speculation of cut
[08:35] {magoo} and perception of cut more difficult this time
[08:35] {magoo} cut symbolizes everything very bad
[08:36] {magoo} no cut could be perceived as things are stabilizing
[08:36] {magoo} or as fed is clueless
[08:36] {Threei} I can't imagine another cut
[08:38] {Threei} JASO
[08:38] {Threei} PROVIDES STATEMENT ON LEHMAN BROTHERS RELATIONSHIP
[08:38] {Threei} uh oh
[08:39] {Threei} NEW YORK FED: TALKS ON AIG WILL CONTINUE TODAY
[08:40] {Threei} JASO same kind of deal with LEH as ESLR had, it seems
[08:40] {Threei} look where it got ESLR
[08:41] {Threei} PIMCO'S EL ARIAN: FED RATE CUT IS NEEDED IF TODAY'S LIQUIDITY OPERATIONS FAIL TO LIQUIFY MARKETS
[08:41] {Threei} panicking idiot
[08:42] {Threei} last thing we need is dcision on rates based on ONE DAY's operation
[08:42] {Threei} ok BAC
[08:43] {Threei} that's better
[08:46] {Onix} good morning
[08:46] {dino} gm all
[08:46] {Threei} RUSSIA MICEX EXCHANGE SUSPEND TRADING
[08:46] {Threei} was down like 15%
[08:46] {Threei} onix, dino :)
[08:49] {dino} onix?
[08:54] {Threei} GS crash in works
[08:55] {Threei} wow
[08:55] {peterg} morning!
[08:55] {Threei} big bid hit on BAC
[08:55] {Threei} peter :)
[08:57] {fernp} Good morning everybody
[08:57] {Threei} fern :)
[08:58] {Threei} BAC needs to lose .80 to launch next leg down
[08:59] {Threei} BARCLAYS CLOSING IN ON A DEAL TO BUY LEHMAN'S US ASSETS FOR ABOUT $2B - WSJ CITING SOURCES
[09:00] {Threei} going to cover half BAC if it breaks .90
[09:00] {Threei} GERN
[09:00] {Threei} ANNOUNCES ISSUANCE OF U.S. PATENT FOR CARDIOMYOCYTES FROM HUMAN EMBRYONIC STEM CELLS
[09:01] {Threei} good boy BAC
[09:01] {Threei} magoo, fess up
[09:01] {Threei} shorted it?
[09:02] {magoo} actually hit gs vad
[09:03] {Threei} price?
[09:04] {magoo} out already
[09:04] {Threei} okay
[09:04] {Threei} C on its merry way to 14
[09:04] {Threei} which is its Bear Sterns low
[09:05] {Threei} game plan for BAC is to cover some on the next drop,
[09:06] {Threei} and whatever happens, keep a little for big score
[09:07] {Threei} I mean... what's my risk? with stop above today's high and playing with house money, why not try and keep small shares for multipoint drop
[09:08] {Threei} GS
[09:08] {Threei} CFO :ACCESS TO LIQUIDITY REMAINS STRONG
[09:08] {Threei} ok... GS started this "everything's fine" line of announcements
[09:08] {Threei} eerily familiar
[09:09] {Threei} covered half BAC +1
[09:09] {peterg} aig drifting drifting down
[09:09] {magoo} nice one vad
[09:09] {Threei} if AIG fails, this has all makings of Armageddon
[09:10] {peterg} suggested dominos?
[09:10] {Threei} all of them
[09:10] {Threei} whoever is still standing
[09:11] {Threei} C, CIT, BAC, MS, GS, WM
[09:11] {Threei} whatelse is out there
[09:11] {peterg} thks
[09:12] {peterg} for summary
[09:12] {Threei} be back in 5
[09:13] {magoo} your buddy farley post in columnist conversation ;
[09:13] {magoo} obvious we're getting afternoon rate cut, maybe as high as .50%"
[09:17] {Threei} certainly expectations of it are ramped up
[09:18] {Threei} and oil drop gives Fed some room to do that
[09:18] {Threei} IMO, it would be stupid
[09:18] {Threei} but who would put stupidity beneath them
[09:18] {magoo} well, hes a smart guy..also states"my gut says it does matter and we'll finish the day much higher, as long as the rate cut is a decent size"
[09:19] {Threei} quite possible
[09:19] {esemde} good morning.....withh you for a few minutes then have to go...how was everyone yesterday
[09:19] {magoo} just for info here..no one knows
[09:19] {magoo} but keeping open mind
[09:19] {Threei} hi ese
[09:19] {Threei} yesterday was good
[09:19] {esemde} must have been afeild day for dino
[09:20] {Threei} every day is a field day for dino
[09:20] {esemde} true indeed!!!!
[09:22] {Threei} 25 lost on BAC
[09:22] {dino} no es, up nice early, gave it back later, lots of distractions at office, pretty much pissed me off
[09:23] {dino} accountants, attorneys, mother, etc.....
[09:23] {dino} in any case, a new day
[09:24] {dino} as for rate cuts 3i, i think you are missing one main point, w/a cut the banks instantly increase the spread on what they take in vs. what they pay out. it has to happen, imo
[09:24] {dino} salvation thru inflation again my friend. re-liquify it all
[09:25] {dino} deflatrion has always been the fear
[09:25] {Threei} IMO... it does nothing but lays foundation for more of the same down the road
[09:25] {Threei} I understand the reasoning dino
[09:25] {Threei} I just disagree with it
[09:25] {dino} but there is no other answer
[09:25] {peterg} yeah, but down the road is not now
[09:26] {peterg} later is better; lets party
[09:26] {peterg} now
[09:26] {dino} correct peter
[09:26] {Threei} mess we are in is caused by exactly this: today's solution with no regard for tomorrow's consequences
[09:26] {peterg} yes
[09:26] {peterg} party on
[09:26] {peterg} till world spins off its axis and rolls out to pluto
[09:27] {esemde} question is will a rate happen before market opens.....
[09:27] {Threei} 2:15 FOMC decision, ese
[09:27] {esemde} there was that speculation going on to restore confidence
[09:27] {judijim} good morning all
[09:27] {Threei} jj :)
[09:27] {esemde} the street gurus were saying it should come before the open
[09:28] {esemde} jj
[09:28] {Threei} pewter, add WB and ABK to the list
[09:28] {peterg} you mean silver dont you
[09:28] {Threei} lol
[09:29] {Threei} AIG under 2... mama mia
[09:30] {Threei} going to cover 1/4 more BAC on break over 25.40 if happens
[09:30] {Threei} otherwise on some dump
[09:31] {Threei} Short Setup: WB 9 breakdown
[09:33] {Threei} stop/invalidating level above .20
[09:33] {Threei} out 1/4 more BAC
[09:33] {Threei} +2
[09:33] {GeoArb} gm
[09:33] {Threei} Geo :)
[09:35] {dino} sm l ilmn .10
[09:36] {Threei} Short Setup: C 14.20 breakdown
[09:36] {patience} tsx down -303, seems like a normal day now
[09:37] {Threei} stop/inv level above .40 C
[09:38] {magoo} u doing half lots again today?
[09:38] {Threei} full on C, liquidity is big on it
[09:38] {dino} gj guys
[09:39] {Threei} LEH
[09:39] {Threei} BARCLAYS REPORTEDLY AGREES TO BUY ASSETS
[09:40] {Threei} tightening stop on C to .31
[09:40] {Threei} too tense here, gotta stays safe
[09:40] {dino} v l .83
[09:40] {Threei} out
[09:41] {peterg} fantasy is, Barclays rescues world
[09:42] {Threei} this spike is exactly what I want to avoid being caught in by tightening stop
[09:43] {esemde} ya ...it's not like couldn't have done that on the weekend
[09:43] {esemde} they wanted to drive the price of the assets down then jump in
[09:43] {Threei} watching UAUA for bounce
[09:46] {Threei} jeez AIG
[09:46] {Threei} what a bounce
[09:46] {dino} cyber order change issues
[09:47] {dino} ilmn stop to .15
[09:49] {dino} to .15 again
[09:49] {dino} out ilmn 80.15, +2.05
[09:51] {Threei} FORMER CEO GREENBERG: IF AIG CANNOT GET A BRIDGE LOAN FROM EITHER THE FEDERAL GOVERNMENT OR PRIVATE SOURCES, THE FIRM MAY GO BANKRUPT
[09:51] {dino} way to reassure the markets
[09:52] {Threei} he is trying to scare them into giving loan
[09:52] {dino} ahhh, good point
[09:52] {Threei} AIG bankruptsy is, ummm
[09:52] {GeoArb} my esignal refuses to get data for me
[09:52] {GeoArb} good thing its expiring on 25th
[09:52] {Threei} as close to end of the world as it gets
[09:52] {esemde} man...feel sory for you dino....ya got to work with a bunch of idiots down there.....
[09:52] {esemde} nice reassurance for sure sheesh11!!
[09:53] {magoo} u calling magoo an idiot?he works with me everyday :)
[09:53] {Threei} GM
[09:53] {Threei} CEO: 25B IN LOAN GURANTEES IS A FAIR AMOUNT
[09:53] {Threei} I can't watch it...
[09:53] {GeoArb} what i call people depends how far i am from them
[09:53] {Threei} greatest companies are reduced to beggars
[09:53] {esemde} opps!!!!! directed statement not generalized
[09:53] {GeoArb} i am ok with it
[09:54] {dino} lol es
[09:54] {GeoArb} well finally get some decent minds back in medicine and engineering
[09:54] {dino} old quote magoo knows..."surrounded by idiots"
[09:54] {GeoArb} all of them have been chasing finance and making up instruments
[09:55] {dino} ouch cedc
[09:56] {esemde} talk about fire sales...NVDA
[09:56] {Threei} hmmm
[09:56] {esemde} 5 year low
[09:56] {Threei} you would think in times like this vodka ought to be a popular product
[09:56] {GeoArb} heh
[09:56] {esemde} defineately
[09:56] {GeoArb} baileys in my morning coffee today
[09:57] {dino} you are living
[09:58] {GeoArb} I HATE ESIGNAL
[09:58] {GeoArb} when the pipes clog... esignal sure lets you know
[09:58] {Threei} staying on a careful side still
[09:58] {Threei} yesterday was good... but we have this FOMC today on top of everything
[09:59] {dino} ntrs
[09:59] {Threei} which skews the expectations
[10:00] {Threei} let's go to half lot as we did yesterday
[10:00] {esemde} gotta go everyone....see ya tomorow
[10:00] {Threei} take care ese
[10:01] {esemde} see ya vad
[10:01] {dino} ntrs sm l .75
[10:02] {dino} wide wicked
[10:04] {dino} out ntrs .98, +1.23
[10:04] {Threei} typed MER long .50 break... thing was at .65 before I could hit enter
[10:06] {Threei} Long Setup: WB 11 break
[10:06] {Threei} .85 stop
[10:08] {Threei} stop to .89
[10:08] {Threei} half out .23
[10:08] {Threei} scalpers take profit
[10:09] {Threei} out in full +.65
[10:09] {peterg} ty +.16
[10:09] {peterg} got in late
[10:09] {peterg} got out early
[10:10] {Threei} welcome... but don't chase peter
[10:10] {peterg} rt
[10:10] {GeoArb} story of my life
[10:10] {Threei} either they pull back for you or let them go
[10:10] {Threei} wow, nailed top within 3 cents
[10:10] {Threei} rare case with me
[10:11] {Threei} sheesh, look at its drop
[10:11] {Threei} all the way back
[10:15] {Threei} looking at the prices in tech sector... boy, when recovery finally starts (providing world doesn't end)...
[10:15] {Threei} look at NVDA, DELL, KLAC, BRCM
[10:16] {Threei} MER half lot long
[10:16] {Threei} right here
[10:16] {Threei} got .33
[10:16] {Threei} stop under .10
[10:18] {Threei} hmmm... expected it to cut through .50 easier
[10:19] {Threei} either tighten stop to .25 or take small scalp
[10:19] {dino} fwiw watching fdx ntrs, still in v
[10:21] {Threei} whew... held by fingertips
[10:21] {Threei} out MER
[10:21] {Threei} .49, +.16
[10:21] {Threei} if it wants to break, it can do it without me
[10:22] {Threei} potentially scariest call I've ever made
[10:23] {Threei} Long Setup: AIG 2.96
[10:24] {Threei} offer half 3.15
[10:24] {Threei} direct hit
[10:24] {Threei} stop 2.89
[10:24] {dino} fdx sm l .50
[10:24] {Threei} offer second half .31
[10:25] {Threei} direct hit
[10:25] {Threei} going for a smoke
[10:28] {dino} v stop to .87
[10:29] {dino} fdx to .94
[10:31] {dino} out fdx .00 +.50
[10:31] {Threei} WM
[10:31] {Threei} UK'S DAILY MAIL REPORTS JP MORGAN CONSIDERING A NEW APPROACH, CITING UNIDENTIFIED SOURCES
[10:31] {Threei} - reports an $8/shr stock swap offerred by JPM earlier this year was rejected by WaMu{JPM}
[10:31] {dino} v to .30
[10:32] {dino} out v .30, +1.43
[10:32] {Threei} wtg
[10:32] {Threei} what, no takers on AIG?
[10:32] {dino} too busy, 4/4, all over $1 except fdx
[10:32] {dino} need coffee
[10:33] {Threei} ese was right... field day for ya :)
[10:33] {Threei} coffee? I need CEDC product
[10:33] {dino} now get conservative and avoid distractions
[10:34] {dino} yeah, cedc, what to do.....
[10:35] {dino} gs nice comeback
[10:35] {magoo} i took AIG vad, 0out .41
[10:37] {Threei} whew
[10:37] {magoo} yeah fl too
[10:40] {magoo} rimm sh small.412
[10:40] {magoo} fast
[10:41] {magoo} looking for under 96
[10:42] {magoo} ah...cover here
[10:42] {magoo} .15
[10:42] {magoo} scalpin
[10:42] {Threei} US TREASURY CONFIRMS CANCELLATION OF PAULSON SPEECH AS HE IS CURRENTLY SLATED TO FOCUS ON MARKET DEVELOPMENTS
[10:42] {Threei} {XLF AIG}
[10:43] {Threei} hope he doesn't use esignal
[10:43] {magoo} ROFLOL
[10:43] {GeoArb} that was low vad
[10:43] {Threei} don't put it beneath me {G}
[10:43] {GeoArb} well i am locked out of the market.... moving funds to laser
[10:44] {GeoArb} so i guess you can call the move capital preservation
[10:44] {Threei} my respect for those guys is at all time low
[10:44] {Threei} forms DBI, breaks support
[10:45] {Threei} CNBC'S FABER: SOURCES NOTE THAT AIG IS UNLIKELY TO RECEIVE RESCUE PACKAGE TODAY
[10:45] {dino} i see cnbc crucified hank greenberg two years ago, and now they make him a hero again
[10:46] {dino} i still say hank hired the spitzer hooker
[10:46] {Threei} this is priceless:
[10:46] {Threei} PG CFO: US MARKET IS ACCELERATING AT A MODERATE PACE
[10:46] {Threei} lol dino
[10:46] {GeoArb} accelarating
[10:46] {Threei} good job if he did
[10:46] {GeoArb} and moderate
[10:46] {Threei} yeah geo, it's this new speak
[10:46] {Threei} negative growth
[10:47] {dino} geo just doesn't like them in same sentence
[10:47] {GeoArb} so i came up with a new joke
[10:47] {Threei} AIG SPOKESPERSON: NY STATE HAS YET TO PROVIDE A $20B, THAT FIGURE IS CONTINGENT UPON GREATER RESCUE PACKAGE
[10:47] {GeoArb} fuld meets paulson in a bar with a cup in hand
[10:48] {GeoArb} paulson screams..........
[10:48] {GeoArb} NO LEHMAN....AID for you !!!! (seinfield)
[10:48] {Threei} aid nazi?
[10:48] {GeoArb} yup :)
[10:48] {Threei} :)
[10:48] {GeoArb} lemonade
[10:48] {dino} ahhh
[10:49] {Chaeron} good morning all
[10:49] {GeoArb} do the accent dino
[10:49] {Threei} ok... let's watch if headline about those 20B appears, then buy all AIG you can
[10:49] {magoo} chaer:)
[10:49] {Threei} chaeron :(
[10:49] {Chaeron} :P
[10:49] {Threei} mised couple beautiful plays
[10:49] {GeoArb} yeah vad had to take a puff break
[10:49] {GeoArb} he was excited
[10:50] {Chaeron} lol... well, let's find some more
[10:50] {Threei} excited delirium
[10:53] {Threei} wow
[10:53] {magoo} quote server vad?
[10:53] {Threei} 4
[10:53] {Threei} wth
[10:53] {Threei} AIG
[10:53] {Threei} no news yet
[10:53] {Threei} ahhh... CNBC
[10:53] {GeoArb} ok
[10:53] {Threei} sh*t... missed :(
[10:53] {Chaeron} damn
[10:54] {fernp} American Intl doesn't yet have $20 bln from NY pact, state spokesman says; AIG's $20 bln from New York contingent on broader rescue- Bloomberg (2.80 -1.97) -Update-
[10:54] {Chaeron} retrace
[10:54] {Threei} CNBC'S GASPARION: GOVT IS ACKNOWLEDGING 'DIRE' SITUATION, RESCUE PACKAGE MAY NOW BE ON THE TABLE
[10:54] {dino} 100 pt swing dji, aig must have leaked
[10:55] {magoo} QUOTE SERVER VAD
[10:55] {Threei} 4
[10:55] {magoo} trying all
[10:55] {Threei} works fine
[10:55] {dino} cedc sm l .35 risky
[10:55] {Chaeron} 9 too
[10:56] {Threei} can't believe it... that was what I was waiting for on AIG, and missed it
[10:56] {GeoArb} it ran before news
[10:57] {dino} cedc stop is .97 fwiw
[10:58] {Threei} AIG low 1.25... what does the seller feel right now
[10:58] {Threei} good thing we switched to longs on finnies
[10:58] {Threei} that could have really hurt
[10:59] {Threei} ok, now's time for AIG rumor denials I guess
[11:01] {Threei} GS is aiming for 135
[11:03] {dino} 145 you mean
[11:03] {Threei} I'll adjust on the go :)
[11:04] {Threei} FED DECLINES TO COMMENT ON CNBC REPORT THAT GOVERNMENT MONEY IS ON THE TABLE FOR AIG
[11:04] {dino} :)
[11:04] {dino} notice they don't say taxpayer money
[11:07] {dino} cedc stop to .94
[11:10] {dino} mkt drop
[11:10] {Threei} NY FED: REITERATES THAT MEETINGS IN RELATION TO AIG ARE STILL ONGOING
[11:10] {Threei} nice drop
[11:11] {dino} ceedc to .14
[11:11] {Threei} now announce that aid is granted... but do it beofre stock jumps this time
[11:11] {dino} out slip cedc ave .10, +.75
[11:11] {Threei} yeah right
[11:11] {Threei} sigh
[11:11] {Threei} gj dino
[11:12] {dino} ty
[11:12] {dino} micc watch
[11:15] {dino} ntrs drop
[11:15] {Threei} CNBC'S FABER: PRIVATE SECTOR DEAL FOR AIG IS DEFINITELY DEAD
[11:16] {dino} oh ohh
[11:18] {Threei} AIG setting up for new headline, lol
[11:19] {dino} private sector says no, gov't says yes(?)
[11:20] {Threei} something of this kind, yeah
[11:20] {dino} syut destroyed
[11:20] {dino} 48-17 in 2 days
[11:22] {Threei} wow AIG
[11:22] {Threei} swings on $2 stock
[11:22] {Threei} .81 long
[11:22] {Threei} .69 stop
[11:23] {fernp} AIG American Intl: Treasury official said that comments made by Hank Paulson stand from yesterday (inappropriate to use money in the LEH case and inappropriate to use money in the AIG case), but that this is based on a circumstance by circumstance basis - CNBC (2.86 -1.90) -Update-
[11:23] {Threei} invalidated for now
[11:24] {Threei} setup is almost complete
[11:24] {magoo} mkts losing groiund
[11:24] {Threei} .71 long, .59 stop now
[11:24] {magoo} good news would send aig thru 5 imo..not in of course
[11:25] {Threei} nope
[11:25] {Threei} gotta just wait for next headline, lol
[11:25] {GeoArb} so here is a q vad
[11:25] {magoo} no questions'
[11:26] {GeoArb} do we have to also play what everyone else is playing?
[11:26] {Threei} ?
[11:26] {GeoArb} or maybe there is easier money somewhere else?
[11:26] {Threei} you see anything else moving?
[11:26] {GeoArb} no just a thought
[11:26] {GeoArb} playing aig is like playing ES right now
[11:26] {GeoArb} everyone staring at eueballs
[11:26] {GeoArb} eye
[11:27] {dino} geo, i've been on my own all morning
[11:27] {GeoArb} dino youre the pacman...... i wouldnt expect any less lol
[11:28] {dino} watching ntrs for spike low
[11:28] {GeoArb} AIZ chart
[11:28] {GeoArb} broke
[11:29] {Threei} SYUT
[11:29] {Threei} NFANT FORMULA MAKER WITH OPERATIONS IN CHINA TRADING DOWN OVER 50% TODAY
[11:29] {Threei} - share hit after reports this week of dangerous batches of infant formula being produced in China. Its not clear at this time if SYUT or its subsidiaries are involved in that case.
[11:30] {dino} ty, found it too.
[11:31] {Threei} GM
[11:31] {Threei} VICE CHAIRMAN LUTZ: SEE FULL SCALE TARGET PRODUCTION FOR THE VOLT AT ABOUT 60K UNITS
[11:32] {Threei} that's it/
[11:32] {Chaeron} yeah... they're too busy making real cars for the Chinese consumers
[11:33] {dino} when tho?
[11:34] {Chaeron} dunno, but favorite car in China is buick
[11:34] {Chaeron} black ones
[11:35] {GeoArb} aiz nice breakdown
[11:36] {GeoArb} no news
[11:39] {Threei} ACPW
[11:39] {Threei} RECEIVES MULTIMILLION DOLLAR ORDER FROM LEADING GLOBAL INTERNET SEARCH ENGINE PROVIDER
[11:39] {Threei} hmm
[11:39] {Threei} Google?
[11:40] {Threei} WM
[11:40] {Threei} PRICE TARGET LOWERED TO $1 FROM $3 AT MERRILL; MAINTAINS UNDERPERFORM RATING
[11:40] {Threei} JPM REPORTEDLY NOT IN ACTIVE TALKS TO ACQUIRE WM - UNCONFIRMED REPORT
[11:40] {dino} aiz interesting
[11:40] {magoo} jesus...nice of mer
[11:40] {GeoArb} yeah
[11:40] {GeoArb} i am simming
[11:40] {GeoArb} sniff
[11:41] {GeoArb} dont even know why i woke up early
[11:42] {Chaeron} if you move to Russia, you can wake up late and trade... :)
[11:42] {GeoArb} heh
[11:42] {GeoArb} i am thinking bermudas
[11:43] {GeoArb} trade at 10:30
[11:43] {Chaeron} that would interfere with scuba time...
[11:43] {dino} no beach at 10:30
[11:43] {GeoArb} nah
[11:44] {GeoArb} i was born tanned
[11:44] {GeoArb} also dont want to inflict my physice on the pretty crowd :)
[11:44] {Chaeron} or spelling
[11:44] {GeoArb} lol
[11:44] {GeoArb} physik
[11:45] {Chaeron} you're going to wake up Raven if you keep it up
[11:45] {GeoArb} noooo
[11:45] {Threei} and that won't be pretty
[11:45] {GeoArb} got a good wupping last time
[11:45] {GeoArb} i hope you all killed on AIZ
[11:45] {GeoArb} sniff
[11:46] {GeoArb} keeps doing the DBI thing
[11:47] {dino} aiz sm l .45
[11:47] {GeoArb} you plaing the 5 min dino?
[11:48] {dino} ntrs sm l .49
[11:49] {dino} 3
[11:49] {GeoArb} ok
[11:49] {Raven} {}
[11:49] {GeoArb} sheesh
[11:51] {GeoArb} nice dino
[11:51] {_petike} Hy everybody
[11:51] {Threei} EPORTEDLY MUNICH RE IS INTERESTED IN SEVERAL OF AIGS ASSETS
[11:51] {Threei} hi petike
[11:52] {Chaeron} hi there petike
[11:52] {Threei} isn't it interesting how market moves from worry to worry
[11:52] {Threei} last week was all about LEH
[11:52] {Threei} this one is abput AIG
[11:53] {Threei} but really, how do you justify salvation of Bear and letting AIG fail?
[11:53] {GeoArb} ummm
[11:53] {GeoArb} blew out all the funds?
[11:53] {Threei} what funds...
[11:53] {GeoArb} our funds?
[11:54] {dino} aiz stop to .75 ty geo
[11:54] {Threei} funds are created by fed pen
[11:54] {GeoArb} really nice
[11:56] {dino} out aiz .85 +.40
[11:56] {dino} most likely too soon, but in scalp mode now
[11:56] {Threei} yeah, market is locked in a narrow ran ge now
[11:57] {Threei} waiting for AIG developments and for FOMC
[11:57] {dino} rock n roll
[11:58] {dino} darn aiz beauty
[12:00] {Threei} ALLIANZE CEO: NOT INTERESTED IN AIG REINSURANCE OR LEASING BUSINESSES
[12:02] {GeoArb} yeah
[12:02] {dino} they are all "giving it" to aig
[12:03] {Threei} FRIEDMAN BILLINGS SPECULATES ON LOANS TO AIG, NOTES SWF MAY PROVIDE LOAN (TIMING UNCERTAIN)
[12:03] {Threei} jeez
[12:04] {Threei} these idiots should be made to keep their trap shut by law
[12:04] {patience} with all these news stories, it just takes the fun out of trading
[12:04] {dino} out ntrs .89 +.40
[12:04] {GeoArb} cb dino
[12:05] {GeoArb} ok late
[12:05] {dino} they are winners in this aig mess
[12:06] {GeoArb} chubb lloyd
[12:06] {_petike} Hy im really new with stock AIG is whitc company exatly cause when i put AIG my broker shoe me companies and im don`t know whotch AIG what we talking about
[12:07] {Threei} American International Group, Inc
[12:07] {_petike} many thanks
[12:08] {Threei} FITCH PLACES RATINGS FOR AIG SOUTH AFRICA AND AIG LIFE SOUTH AFRICA ON WATCH NEGATIVE
[12:09] {Threei} ok... AIG failure will threaten South Africa and probably whole continent, too
[12:10] {dino} big boys will pick up the life business cheap, they always do (exectutive life, nj life, etc)
[12:13] {dino} imcl
[12:15] {_petike} imcl look like go down like rocket
[12:15] {dino} brb
[12:16] {Threei} no news IMCL
[12:16] {Threei} daily chart looks bottomless
[12:17] {Threei} is any bad news appear, there is just no support
[12:19] {dino} bristal may pull bid
[12:19] {Onix} What time is the FED going to speak?
[12:19] {Threei} 2;15 announcement
[12:19] {Onix} thanks!
[12:20] {Onix} 2;15 EST?
[12:20] {dino} ntrs not following this time
[12:20] {Threei} yes
[12:21] {magoo} always 2:15 est unless a surprise
[12:24] {dino} every 6 weeks
[12:24] {Threei} NATO grew a set
[12:24] {Threei} http://www.telegraph.co.uk/news/worldnews/europe/georgia/2970251/Georgia-Nato-chief-reinforces-claim-to-membership.html
[12:24] {dino} probably cedc's problem
[12:25] {dino} v sm, v wide ntrs l .11
06[12:27] * laserdave1 slaps Threei around a bit with a large trout
06[12:27] * Threei slaps laserdave1 around a bit with a large trout
[12:27] {Threei} this time he was faster...
[12:28] {Threei} {--- aging... getting slow
06[12:28] * magoo slaps laserdave1 around a bit with a large trout
[12:28] {Threei} CNBC'S FABER: POLICYHOLDERS AND NEW YORK GOV PATTERSON ARE PUTTING STRONG PRESSURE ON THE FED TO WORK OUT A PACKAGE FOR THE FIRM
06[12:33] * Chaeron slaps laserdave1 around a bit with a large trout
[12:36] {magoo} i think dino just sdaid hes up 20 grande today lol
[12:37] {Threei} so that's why market ceased moving
[12:37] {Threei} there is no more monay in it, dino got it all
[12:37] {dino} take a zero off
[12:37] {GeoArb} 2000 is impressive in my book
[12:37] {dino} me too geo, doesn't happen often, i'm more steady as it goes
[12:38] {GeoArb} nice
[12:38] {Threei} this headline gets the prize of the day:
[12:38] {Threei} DOW JONES HAS NO COMMENT ON THE AIG SITUATION OR ITS POTENTIAL EFFECT ON THE MAKEUP OF THE DOW JONES INDUSTRIAL AVERAGE
[12:38] {Threei} high five
[12:38] {GeoArb} not this?
[12:38] {GeoArb} (FR) FRENCH GOV SPOKESMAN: THE FRENCH BANKING SYSTEM IS DOING FINE, IN GOOD HEALTH
[12:39] {Threei} finally someone who has no comment on AIG
[12:40] {cosmo} ESLR might be healing
[12:40] {cosmo} somewhat....
[12:40] {Threei} PREVIEW: SEPT NAHB HOUSING MARKET INDEX DUE OUT AT 1PMET
[12:40] {Threei} **consensus expectation: 17e v 16 prior (readings of 16 in July and Aug matched the record low in the index)
[12:40] {Threei} dog with fleas, cosmo...
[12:42] {cosmo} bleeding fleas bites in the streets
[12:42] {Threei} was that poetry?
[12:43] {patience} vad, out of scale of 10, what do you feel is the fear factor in the markets right now? ty
[12:43] {Threei} 11
[12:43] {GeoArb} nice vix
[12:43] {Threei} any blip, this market is willing to drop another 500 points in a hurry
[12:44] {Threei} like, "no aid for AIG, swim on your own" - and watch market cratering
[12:48] {magoo} if so..gS good candidate to tank
[12:48] {Threei} all of them
[12:49] {Threei} dominoes from AIG fall will be bigger than from LEH's
[12:49] {Threei} SENATOR MENENDEZ: WOULD BACK A BRIDGE LOAN TO AIG
[12:49] {Chaeron} "Bridge to Nowhere"
[12:49] {GeoArb} are yo for it or against it?
[12:50] {Threei} and this particular senator is significant why?
[12:50] {GeoArb} probably on some subcommitte
[12:50] {Chaeron} good question, both of them... but what committes is he on?
[12:50] {Threei} well, he was good for 5 cents
[12:50] {Threei} lol
[12:51] {dino} signifcant because he's running for re-election, lol
[12:54] {Threei} AIG
[12:54] {Threei} FOUNDER GREENBERG REPORTEDLY MAY COOPERATE WITH OTHER SHAREHOLDERS TO CONSIDER TAKING THE FIRM PRIVATE
[12:55] {patience} good move
[12:56] {dino} lol, throw hank out, then ask him back at $1/share. he was selling like crazy in the 50s
[12:56] {Threei} well... round of applauses for hank
[12:56] {dino} indeed
[12:57] {dino} must be driving spitzer crazy
[12:58] {Threei} now, here is what every market participant really needs to know in order to define his strategy:
[12:58] {Threei} NY FED'S GEITHNER REMAINS IN NEW YORK IN ORDER TO MONITOR MARKETS, NOT IN WASHINGTON FOR FOMC MEETING
[12:59] {Threei} I mean... how do you buy or sell not knowing geographic location of geithner
[13:00] {Threei} *SEPT NAHB HOUSING MARKET INDEX: 18 V 17E
[13:09] {dino} v not participating
[13:11] {dino} v sm l v .55 wide
[13:13] {Threei} look at AIG volume over last two days
[13:13] {Threei} who would have thought been counter stocks would be the most exciting in the market, lol
[13:20] {Threei} about 1 hour left
[13:29] {peterg} meanwhile, back at the ranch....
[13:30] {peterg} the arachnids began their dance....
[13:31] {Threei} US TREASURY'S MCCORMICK: US ECONOMY WILL CONTINUE TO GROW, HOUSING CORRECTION IS A NECESSITY, WILL TAKE TIME FOR STABILIZATION
[13:31] {Threei} - Notes that the Treasury had no choice with regards to GSEs
[13:33] {Threei} PREVIEW: FOMC RATE DECISION DUE OUT AT AROUND 2:15PMET
[13:33] {Threei} **consensus expectation of analysts when last surveyed was for no change, at 2.00%, but given the recent fallout in the credit market all bets are off today. Many analysts commenting this week have called for a 50 basis point cut from the Fed to shore up confidence in the financial markets. Others believe the Fed has to save its ammunition in case the very fluid market situation deteriorates even further in the coming days and weeks.
[13:33] {Threei} **The October fed fund future is currently pricing in roughly a 84% chance the Fed cuts rates 25 basis points this afternoon. With stock futures down sharply before the US open, that contract had seen the odds of a 50 basis point cut approach 30% this morning. Fed fund futures and Treasury prices moved away from their highest levels after the Fed announced it had accepted $50B in overnight repos and the equity markets experienced some stabilization on hopes of a government sponsored solution for AIG.
[13:34] {Threei} be patient guys
[13:34] {Threei} it's not easy, but heck
[13:34] {Threei} we had great moprning
[13:34] {Threei} with FOMC close,
[13:34] {Threei} and quite hectic trading affter announcement
[13:35] {Threei} no need to subject yourself to huge moves with no rhyme or reason
[13:39] {dino} v stopped -.50 v sm
[13:43] {fernp} out AMR +.10 (little scalp)
[13:43] {dino} fdx drop
[13:47] {Threei} WEAKNESS IN CEG AND SRE WEAKNESS ATTRIBUTED TO CONCERNS ABOUT THEIR COMMODITY TRADING BUSINESSES
[13:47] {Threei} {SRE}
[13:47] {Threei} CEG... is it "weakness"?
[13:47] {Threei} more like destruction
[13:48] {GeoArb} rumor ceg has bad ties with leh
[13:49] {Threei} at this point... is there such thing as good ties with LEH?
[13:49] {GeoArb} correction
[13:49] {GeoArb} is being punished for good ties with leh
[13:49] {Threei} lol
[13:50] {dino} ouch ceg
[13:50] {Threei} mama mia
[13:50] {Threei} last time we've seen such dump was BSC
[13:52] {Threei} CEG
[13:52] {Threei} HEARING JP MORGAN MAKING CAUTIOUS COMMENTS
[13:52] {Threei} cautious?
[13:52] {Threei} rofl
[13:52] {Threei} a bit late for caution
[13:54] {dino} yeah, tomorrow they will lower to hold from buy
[13:54] {Threei} and will trail their traget, just like trailing stop
[13:54] {Threei} OK... halt, or buy around 10? :)
[13:55] {dino} dk
[13:55] {Threei} oh boy
[13:56] {dino} maybe easier to short sre
[13:56] {Threei} just made 500 on SRE in 3 seconds
[13:56] {Threei} short
[13:56] {Threei} hmmm
[13:56] {dino} lol see just above
[13:56] {Threei} headline says CEG halted
[13:56] {Threei} still trading on my screen
[13:56] {dino} trading on my screen
[13:57] {Threei} CEG
[13:57] {Threei} HALTED AT NYSE ON ORDER IMBALANCE
[13:57] {Threei} shrug
[13:57] {peterg} so...should I stop trading ceg
[13:57] {GeoArb} load up !!!!!
[13:57] {GeoArb} long
[13:57] {GeoArb} (kidding)
[13:58] {Threei} correction
[13:58] {Threei} 11 second SRE trade
[14:00] {Threei} SRE
[14:00] {Threei} SPOKESPERSON POINTED TO WEAKNESS IN CEG STOCK AS PARTIAL REASON FOR SELLOFF, NOTED SOME KIND OF PRESS RELEASE IS LIKELY IN THE NEAR FUTURE
[14:00] {Threei} some kind?
[14:00] {Threei} lol
[14:02] {Threei} aside of sadness about huge wealth destruction,
[14:02] {Threei} I view these days as the greatest show I've ever seen in the market. Priftable trades is icing on a cake
[14:02] {GeoArb} how is this dectruction?
[14:02] {GeoArb} why not call it equity transfer
[14:03] {Threei} well... from whom to whom
[14:03] {GeoArb} ummmmmm "the foreign hand"
[14:03] {dino} risky v sm sre l .80
[14:03] {Threei} all these huge selloffs impact pension funds
[14:04] {Threei} and people are involved in those involuntarily
[14:04] {Threei} they never mnade a decision to invest in these companies
[14:04] {GeoArb} true
[14:04] {Threei} yet they are being dirctly infl;uenced
[14:04] {GeoArb} i wouldnt know as i dont know what pensions are
[14:04] {Threei} neither do I
[14:04] {GeoArb} do they still ecist in US in private companies?
[14:04] {Threei} but mechanics are there nonetheless
[14:05] {GeoArb} the only one i know is lockheed martin
[14:05] {Threei} ask GM
[14:05] {GeoArb} i just have an all cash 401K
[14:05] {Threei} lol, "halted" CEG has bounced about 10 points
[14:05] {Threei} they can't even halt stock properly
[14:06] {GeoArb} yeah wierd
[14:06] {Threei} let alone handle its trading
[14:07] {Threei} less than 10 min till FOMC
06[14:07] * Threei slaps laserdave1 around a bit with a large trout
[14:07] {Threei} low was 13... I missed bottom by just 3 points
[14:08] {Threei} pretty lose in terms of CEG trading {GGG}
[14:08] {dino} out hit stop 48.80, +2.00
[14:08] {GeoArb} nyse qoute halted do to order imbalance, but stock was never halted
[14:08] {dino} sre
[14:08] {GeoArb} i enquired
[14:08] {dino} thsat was
[14:08] {GeoArb} CEG
[14:08] {Threei} wtg dino
[14:09] {Threei} so, NYSE halts its traaidng, while ECXNs trade it
[14:09] {dino} ty lucky
[14:09] {dino} i was waiting ceg 13.27
[14:09] {Threei} on top of everything else we have market fragmentation
[14:09] {dino} no fill
[14:10] {Threei} whereevr I glance, I see sea of incompetence...
[14:10] {GeoArb} GS tight range
[14:10] {GeoArb} waiting........
[14:10] {Threei} 5 minutes
[14:11] {Threei} wow... raraely do you see GS being that narrow
[14:11] {dino} usually 25 cents
[14:12] {laserdave1} ya that tight is nuts
[14:12] {laserdave1} especially with earnings
[14:12] {laserdave1} thats crazy
[14:12] {laserdave1} 2 and a half minutes
[14:12] {magoo} [13:35] {Threei} no need to subject yourself to huge moves with no rhyme or reason
[14:12] {magoo} [13:39] {dino} v stopped -.50 v sm
[14:12] {magoo} [13:43] {fernp} out
[14:13] {laserdave1} gs big move up there
[14:13] {magoo} god dammit..so i took a nap and missed those ceg, sre trades
[14:13] {laserdave1} ge big bounce
[14:14] {dino} v rinsed
[14:14] {magoo} no change
[14:14] {GeoArb} donw donw down
[14:14] {Threei} (US) FOMC LEAVES RATES ON HOLD AT 2.00%
[14:14] {laserdave1} no change in rates
[14:14] {laserdave1} were dead
[14:14] {dino} no change
[14:14] {laserdave1} market death
[14:14] {laserdave1} watch out longs
[14:14] {Threei} good for them
[14:15] {Threei} first time in a long while I say judos to fed
[14:15] {Threei} kudos too
[14:15] {GeoArb} and karate
[14:15] {GeoArb} damn was slow
[14:15] {laserdave1} be carefull
[14:15] {laserdave1} this is nuts
[14:15] {dino} careful for what you wish
[14:15] {laserdave1} i cant believe they cut 0
[14:15] {GeoArb} balls for a change?
[14:15] {GeoArb} or recklessness
[14:16] {Threei} I don't see it as recklessness
[14:16] {Threei} cut would be reckless, IMO
[14:16] {Threei} too low rates for too long was what got us into this mess
[14:16] {magoo} i think they are clueless
[14:16] {Threei} well, at leaststarted it
[14:16] {magoo} needed 50 basis cut
[14:16] {Threei} cut would re-killed USAD, re0fuelled oil
[14:17] {Threei} this drop will correct itself quickly IMO
[14:17] {laserdave1} watch out maybe the bail out AIG?
[14:17] {dino} dollar doesn't matter
[14:17] {dino} weaker dollar cheaper to pay off our debts
[14:17] {Threei} oh, it does in terms of oil price
[14:17] {dino} not a believer
[14:18] {dino} demand drives oil
[14:18] {GeoArb} i get paid peanuts so it doesnt matter anyway :)
[14:18] {Threei} hmmm
[14:18] {Threei} I don't see how demand could change in such proportions over last two months :)
[14:18] {dino} world is slowing down oil is dropping
[14:18] {Threei} from 150 to 90 on demand?
[14:18] {GeoArb} thats the election miracle
[14:18] {Threei} doesn't compute
[14:19] {dino} see above. every copuntry is slowing, slowing demand predicted
[14:19] {Threei} USD is workld's reserve currency, and oil is priced in USD
[14:19] {dino} its only a small part. but enough debate
[14:19] {Threei} ah great... say the last word and end debate {G}
[14:20] {dino} lol
[14:20] {Threei} anyway... back to business as usual which means:
[14:20] {dino} problem is deflation....commodities, houses, financials, etc
[14:20] {Threei} market is hinged on AIG developments again
[14:20] {dino} think japan in the 90s
[14:21] {GeoArb} down
[14:25] {magoo} ASIG NEWS
[14:25] {magoo} AIG
[14:25] {Threei} cnbc?
[14:25] {magoo} yes
[14:25] {Threei} what did they say?
[14:25] {magoo} right now
[14:25] {GeoArb} NEW YORK GOV PATTERSON: AN AIG FAILURE WOULD BE A NATIONAL CALAMITY
[14:26] {magoo} nah..allcrap
[14:27] {dino} same old
[14:27] {Threei} moving nonetheless
[14:27] {dino} ceg drops again
[14:30] {dino} waiting v sm aound 15
[14:32] {dino} too low
[14:34] {dino} fdx sm l .80
[14:38] {Threei} PIMCO'S EL ERIAN: FED AVOIDING CUT IN RATES DUE TO CONCERNS OVER INFLATION, DECISION DEMONSTRATES THAT IT IS FOCUSED ON LIQUIDITY MEASURES
[14:38] {Threei} *(US) FOMC LEAVES RATES ON HOLD AT 2.00%; VOTE UNANIMOUS, NOTES FINANCIAL MARKET STRAINS HAVE INCREASED SIGNIFICANTLY
[14:38] {Threei} - will act as needed to promote stability, inflation to moderate this year and next
[14:38] {Threei} - Discount rate unchanged at 2.25%
[14:38] {Threei} - Growth has slowed recently due to slowing household spending
[14:38] {Threei} - Upside risks to inflation are a concern, substantial easing of policy and liquidity measures should promote moderate growth
[14:38] {Threei} - Turmoil likely to weigh on growth for next few quarters
[14:38] {dino} out fdx .20 +.40
[14:38] {laserdave1} AIG fire
[14:38] {Threei} ED HAS RECONSIDERED STANCE ON AIG ASSISTANCE, IN LINE WITH GASPARINO REPORT - UNCONFIRMED REPORT
[14:38] {Threei} huh?
[14:39] {Threei} that's quite confusing
[14:39] {dino} ed?
[14:39] {Threei} Fed
[14:39] {Threei} see market spike?
[14:40] {Threei} it was all about AIG
[14:40] {dino} ok
[14:40] {dino} thx
[14:40] {laserdave1} almost 200 point jump on DOW
[14:40] {laserdave1} insanity
[14:41] {dino} yeah, here i lay out on fdx. hits and goes a buck, sheesh
[14:42] {peterg} meanwhile, back at the ant farm....
[14:43] {peterg} meanwhile
[14:43] {dino} i have never traded a day like today. odd
[14:43] {dino} i suppose we go -50 dji again
[14:43] {Threei} I don't think it has any precendents in my experience either dino
[14:44] {magoo} my quotes real "clunkie"
[14:44] {dino} i guess we'll call it "peculiar".
[14:44] {peterg} meanwhile
[14:44] {Threei} quotes look fine... need anything?
[14:44] {dino} lol pete
[14:44] {dino} magoo, you look chunky
[14:45] {peterg} hello
[14:45] {laserdave1} aig not commenting
[14:46] {peterg} guess not disconnected
06[14:46] * Threei slaps laserdave1 around a bit with a large trout
[14:46] {magoo} server vad?
06[14:46] * magoo slaps laserdave1 around a bit with a large trout
[14:46] {Threei} 4
[14:46] {magoo} thats the one
[14:46] {Threei} dave, do you ever look at your dcc?
[14:46] {dino} i don't know if a beer will cut it today magoo
[14:46] {Threei} switch back and forth?
[14:47] {magoo} vad, u dont think i doing that? theres only like 200 servers
[14:47] {Threei} you think I think?
[14:48] {peterg} "Trade what you see, not what you think"
[14:48] {Threei} lol
[14:48] {dino} well patience, theres out 300 pt dji range again
[14:48] {magoo} that does it
06[14:48] * magoo slaps peterg around a bit with a large trout
[14:48] {peterg} Of course you don't officially
[14:48] {peterg} ahh, thanks mags
[14:48] {dino} out=our
[14:48] {Threei} I got so conditioned to that peter... I stopped seeing any need in thinking whatsoever
[14:49] {Threei} not chosing between beer and vodka is real brain twister
[14:49] {Threei} not = now
06[14:50] * peterg slaps Raven around a bit with a large trout
06[14:50] * peterg slaps magoo around a bit with a large trout
[14:50] {peterg} wild aim, soryry
06[14:50] * Raven slaps peterg around a bit with a large trout
[14:51] {Raven} nice
[14:51] {dino} lol, but vad, i agree on the "see vs think" makes all the difference
[14:52] {Threei} I know... when I try to start thinking, you are first to put me back in line
[14:52] {Threei} oh, and head hurts
[14:52] {Threei} AIG new round of frenzy
[14:52] {Threei} new news?
[14:53] {peterg} I was testing the theory that one could slap all at once but only got Raven
[14:53] {Raven} lol
[14:53] {Threei} lol
[14:53] {Raven} Cramer plugged AIG
[14:53] {Threei} ummmm
[14:53] {Threei} kiss of death?
[14:54] {Raven} he said they should receive some funding ... did not really rec the stock
[14:54] {dino} so tomorrow all of today again w/ms reporting
[14:55] {Raven} uhhh ... come again?
[14:55] {dino} morgan stanley tomorrow
[14:56] {Threei} come on Raven
[14:56] {Threei} I know we rub off of you
[14:56] {Raven} special dino code
[14:56] {Threei} but this is simple... jjust some dino-speak
[14:56] {Threei} MS reporting... tomorrow will repeat today all over again
[14:56] {Raven} I'll have to take a course in it someday
[14:56] {Threei} sheesh AIG
[14:57] {dino} not worth it
[14:57] {Threei} RBC COMMENTS ON CRISIS, SPECULATES THAT AN AIG FAILURE COULD RESULT IN LOSSES OF $180B FOR FINANCIAL FIRMS (TIMING UNCERTAIN)
[14:57] {Threei} FED DECLINES COMMENT ON RECENT REPORTS OF A POSSIBLE LOAN PACKAGE FOR AIG
[14:58] {Threei} awww
[14:58] {Threei} why did I not short on this last headline
[14:59] {peterg} little aig +.41
[14:59] {dino} gj
[14:59] {Threei} wtg peter
[14:59] {peterg} tks
[15:05] {magoo} are we in anything?
[15:05] {Threei} yes
[15:05] {Threei} I am in fight with laserdave
[15:05] {Threei} trout vs salmon
[15:07] {dino} i'm in confused state
[15:07] {Threei} and Raven is in deep amazement how he managed to get himself involved with such a bunch as us
[15:08] {dino} the efficiency of the markets is amazing
[15:10] {magoo} very efficient today
[15:10] {Threei} I also tried to engage peter in argument who would win a fight, Batman or Spiderman... but he considered the matter (and me) unintellectual
[15:11] {peterg} aquaman!
[15:11] {peterg} rules
[15:12] {peterg} it is true I am engaged in deep thought preparing a class for friday
[15:12] {Threei} (US) SENATOR DODD: BELIEVES IT IS A GOOD IDEA TO CONSIDER ANOTHER STIMULUS PACKAGE
[15:12] {Threei} yeah?
[15:12] {Threei} not enough money is given away still?
[15:12] {peterg} how about a good comedy series?
[15:12] {peterg} for stimulus
[15:12] {Threei} LEHHALTED: NEWS PENDING
[15:12] {dino} good idea for his campaign
[15:12] {Threei} lol
[15:12] {Threei} what was there to halt
[15:13] {cosmo} the amero package maybe?
[15:13] {Threei} AIG
[15:13] {Threei} NY AG REPORTEDLY SUPPORTS THE FED'S INVOLVEMENT IN PRIVATE SECTOR COLLABORATION FOR THE COMPANY
[15:14] {Threei} meaninglessness (if that's a word) of some of these headlines exceeds thinkable
[15:14] {Threei} and unthinkable
[15:14] {dino} cedc sm l .45
[15:14] {dino} risky stop lod
[15:16] {dino} v strange
[15:18] {cosmo} mkt healing
[15:18] {Threei} this rally feels much healthier than all previous bounce attempts
[15:18] {cosmo} eslr too
[15:19] {Threei} and I am gklad it occurs in absence of rate cut
[15:19] {Threei} glad too
[15:19] {Threei} shows that it happens on market's own initiative so to speak
[15:19] {dino} out cedc .90, +.45
[15:19] {Threei} not just a short-lived stimulus
[15:19] {cosmo} fed guessed right...
[15:20] {Threei} I am sure they never considered cut,
[15:20] {Threei} it's talking heads yesterday
[15:20] {peterg} out cedc +..46 tks dino
[15:20] {Threei} who all of sudden created this speculation
[15:20] {Threei} and convinced themselves and all around that it's in cards
[15:20] {dino} np peter gj
[15:20] {Threei} good job on CEDC folsk
[15:21] {Threei} peter is having field day, again
[15:21] {peterg} best ever; gg to sit on hands now thks
[15:21] {Threei} must feel good, to turn the corner
[15:21] {magoo} THAT DOES IT
06[15:21] * magoo slaps peterg around a bit with a large trout
[15:21] {peterg} uhoh youll ginks it
[15:21] {peterg} magoo you da man
[15:22] {dino} wtg peter
06[15:22] * peterg slaps magoo around a bit with a large trout
[15:22] {magoo} thats not allowed there mister
[15:22] {Threei} lol
[15:23] {Threei} magoo is knoqwn as He Who Slaps But Can't be Slapped
[15:23] {peterg} as befits a personage of his exaltation
[15:25] {dino} howard simons at realmoney wants to meet the daytrader that made money today......uhhhhh
[15:25] {Threei} huh?
[15:26] {magoo} i'm too busy to meet with him lol
[15:26] {Threei} invite him to read our today's log when it's posted after hours
[15:26] {dino} 2:57 eastern time
[15:26] {dino} bet this whole room did
[15:26] {Threei} boy... does any of those people actually trade?
[15:26] {peterg} I always meets the public.....for a fee!
[15:27] {Threei} US TREASURY SPOKESPERSON REMARKS THAT PAULSON IS UPDATING LAWMAKERS ON MARKET DEVELOPMENTS, HAS NOT INDICATED ANY ACTION - TV INTERVIEW
[15:27] {Threei} if he is willing to take a bet,
[15:27] {Threei} my terms are:
[15:28] {Threei} he garantees paying me 10x what I made today,
[15:28] {Threei} I send him blotter
[15:28] {Threei} verified by broker
[15:28] {Threei} or third party
[15:28] {Threei} or whatever
[15:28] {Threei} they confirm my profit for the day, he sends me 10 times as much
[15:28] {magoo} god dammit..filled only 2 shares aapl short @ 141.06
[15:28] {Threei} and posts it on real money
[15:29] {magoo} buck forty
[15:29] {Threei} lol
[15:29] {Threei} I get great advetrtisement, increase my profti for the day tenfold, guy gets to admit he is wrong
[15:29] {Threei} win win all around
[15:30] {dino} lol
[15:30] {dino} i lost alot of respect for him
[15:30] {Threei} I've no idea who he is, maybe he is a good trader, just not his kind of market
[15:30] {Threei} but hell,
[15:30] {dino} buy and hold
[15:31] {Threei} doesn't being a good trader also means understanding that others migfht make money where you don't?
[15:31] {Threei} ahhh... well, buy and hold is not trading at all
[15:31] {Threei} why pretend he knows anything about daytrading then
[15:32] {dino} i'm sure the rev shark will smack him
[15:32] {peterg} +.09 aig
[15:32] {peterg} cant stop
[15:32] {peterg} macdonalds ad; im lovin it
[15:32] {dino} peter, step away from the keyboard, :)
[15:32] {peterg} thks dino
[15:32] {Threei} peter, is wife nearby?
[15:33] {peterg} no at her job
[15:33] {Threei} too bad
[15:33] {Threei} if you can't sit on your hands, she would have to do it
[15:33] {Threei} don't do it... exercise self-control
[15:34] {peterg} ok ok tks
[15:34] {Threei} that's what will get you through learning curve first,
[15:34] {Chaeron} just type bad lokes here instead like I do
[15:34] {Threei} through any drawdown later
[15:34] {peterg} aig lks gd
[15:34] {Chaeron} jokes that is
[15:43] {Threei} what, no more AIG news before close?
[15:44] {dino} yeah, the xmas party is cax'd
[15:46] {Threei} SEN DODD REPORTEDLY SKEPTICAL OVER POSSIBLE INTERVENTION IN AIG
[15:50] {Threei} mesmerizing AIG
[15:51] {peterg} dont tempt me
[15:51] {Threei} nah... just like watching blinking lights
[15:51] {peterg} true
[15:52] {peterg} gets stuck; lays bid 4/03 ask 3.82
[15:52] {peterg} says
[15:52] {peterg} now better
[15:52] {peterg} 4
[15:53] {Threei} PRESIDENT BUSH WILL NOT MAKE ANY REMARKS AFTER MEETING WITH PAULSON AND THE FINANCIAL MARKETS WORKING GROUP TODAY
[15:54] {peterg} ah thank theyre doin a heckuva job, just a heckuva job
[15:54] {Threei} hehe
[15:55] {dino} he'd just mess it up anyway
[15:55] {Threei} - White House notes its best to "limit public comments" on markets.
[15:56] {cosmo} the public's?
[15:56] {Threei} come on... what'as the fun in it
[15:56] {Threei} endless barrage of aid-no iad is much more entertaining
[15:58] {Threei} what now?
[15:58] {dino} relax time
[15:58] {peterg} more fun tomorrow
[15:58] {Threei} NY GOV PATTERSON: FED IS TRYING TO GET PRIVATE INVESTMENT INTO AIG
[15:59] {peterg} ok; everybody here ten bux
[15:59] {Threei} {PRIVATE INVESTMENT{ get away from me
[15:59] {Threei} okay guys, thank you all
[15:59] {Threei} great day
[15:59] {Threei} have a good evening, see you all tomorrow
[15:59] {peterg} thanks all lots of fun
[15:59] {Threei} wait
[15:59] {Threei} MS
[15:59] {Threei} TO PRE-ANNOUNCE TONIGHT AT THE CLOSE - CNBC
[16:00] {dino} pre-announce, what and then announce real tomorrow?
[16:00] {Threei} NY GOV PATTERSON: FED IS TRYING TO GET PRIVATE INVESTMENT INTO AIG, OPTIMISTIC ABOUT PROSPECTS FOR A DEAL, NOTES FED "WILL NOT CARRY THE BALL" IN ANY AIG RESCUE
[16:03] {fernp} good evening everybody. see u tomorrow
[16:03] {Threei} take care fern
[16:03] {dino} later fernp
[16:09] {Threei} OK, don't want to wait for MS
[16:10] {Threei} enough excitement for the day
[16:10] {Threei} oh here it is
[16:10] {Threei} REPORTS Q3 $1.32 V $0.77
[16:10] {Threei} R$8.0B V $6.28BE
[16:10] {Threei} - Liquidity $B at end of Q3, $B q/q