Sep 23 2008

Session Time: Tue Sep 23 00:00:00 2008

[08:05] {Threei} CNBC'S GASPARINO DISCUSSES ONGOING NEGOTIATIONS AROUND THE TREASURY'S BAILOUT PACKAGE
[08:05] {Threei} - still believes the deal gets done but suggests Treasury will have to continue to make concessions in order to get "Main Street" on board
[08:12] {esemde} good morning vad
[08:13] {Threei} ese :)
[08:13] {hawkfan4} good morning
[08:13] {esemde} mornin hawk
[08:13] {Threei} hawk :)
[08:14] {hawkfan4} es, vad :)
[08:24] {esemde} bought a new laptop yesterday.....macbookpro....should eventually solve my computor problems around here once i learn to use it Vad
[08:24] {Threei} Mac?
[08:24] {esemde} yes
[08:24] {Threei} never used any of those
[08:24] {Threei} I am PC guy... :)
[08:24] {esemde} me either
[08:25] {esemde} but have to because just about the entire recording industry are using them
[08:26] {Threei} oh, I see
[08:26] {esemde} steep learning curve coming
[08:27] {esemde} I had the oddest thought the other day while on the golf course
[08:28] {esemde} was thursty...and so started thinking about dp's gift to you....
[08:28] {Threei} rofl
[08:28] {esemde} might be the funniest thing i've ever seen
[08:29] {magoo} morning
[08:29] {Threei} magoo :)
[08:29] {esemde} mags!!!!!
[08:30] {magoo} oh oh...too much cafe"
[08:34] {Threei} let me describe how I see the current situation in the market and my idea of what is coming
[08:34] {Threei} I believe the market is working the process of bottoming these days. Bottom, however, is a process rather than event.
[08:34] {Threei} In last week's explosion market kind of showed its hand - made it too obvious that rescue plan is what it wants to put the bottom in and reverse.
[08:35] {Threei} Things can't be that obvious and easy - market is always trying to go with as few people on board as possible.
[08:35] {Threei} When I ask myself "if I were a market, what would I do to fool those who decided they figured me out?", my scenario comes out as following:
[08:35] {Threei} 1. While the rescue plan is being discussed, retreat and plant as much doubt as possible
[08:35] {Threei} 2. When the plan is adopted, spike briefly luring "reflexive players" in
[08:35] {Threei} 3. Drop sharply, possible making new low, shake out hopefuls as violently and rudely as possible
[08:36] {Threei} 4. Rally from there as fast as posssible, leaving new believers minimal chance for entry and make them chase.
[08:36] {Threei} 5. Now that credit crisis ceased to be THE worry, start looking for new worries or recycling old ones (USD, oil etc), but do it in a context of new bull market.
[08:38] {Threei} US PRESIDENT BUSH: CONFIDENT IN BIPARTISANSHIP COOPERATION WITH MARKET RESCUE PLAN BILL
[08:40] {magoo} interesting vad
[08:40] {Threei} we will see how it develops... :)
[08:41] {Threei} intuitively, does such scenario ring true with you?
[08:42] {esemde} Old market adage....from stock market almanac...market bottoms are made in quiet....market tops in violence....
[08:42] {esemde} anytruth to that ?
[08:42] {magoo} `absolutely....u thought of it...but thats how i would bet it to play out
[08:42] {magoo} see..market needs to hurt the masses
[08:42] {magoo} your scenario would do that
[08:43] {cosmo} rescue me ...sheesh
[08:43] {esemde} I don't have to think about it.....I just follow Vad blindly...thats my strategy
[08:43] {Threei} lol
[08:51] {esemde} man........just want to sink a couple of thousand shares into a bunch of solar stocks.......ala ESLR, CSIQ{SOLF and a few more and just sit on them
[08:51] {Threei} why solars?
[08:52] {Threei} it's an honest question
[08:52] {esemde} just the ones with good balance sheets.......and because it's the wave of the future
[08:53] {Threei} even with oil dropping (as I believe it will unless rescue package totally kills USD)?
[08:53] {esemde} this last go around has damaged oils reputation.......
[08:54] {esemde} it take a shock in my mind to get populations to think
[08:54] {cosmo} like 'free' energy?
[08:54] {magoo} see..im with vad here..mkt doesn't respond that way...its obvious solars are the future so they remain beaten up
[08:54] {esemde} about half the people on my staff at school are looking for alternative means of transportation
[08:55] {cosmo} thinking is the best way to travel...
[08:55] {esemde} if thats just my staff you gotta figure that could be the same all over......
[08:57] {esemde} this was a shock to people.......and anyone with a reasonable amount of IQ"S will start to think about alternatives
[08:57] {Threei} true
[08:57] {Threei} I just don't know how viable alternatives are at this point
[08:57] {Threei} solars are still unsustainable without govt subcidies
[08:58] {esemde} ala Detroit electric...could be it's time
[08:58] {esemde} i would agree with that vad
[08:59] {esemde} Wind energy ....that another big one....powers about 1/8th of Denmark
[09:00] {esemde} those plants are springing up all over the US and Great Briton now
[09:00] {pita} morning all
[09:00] {esemde} pita
[09:00] {pita} ese
[09:01] {peterg} morning
[09:01] {Threei} pita, peter :)
[09:01] {Threei} replay is working, right?
[09:01] {peterg} interesting hypothesis or vision, vad; sounds right to me
[09:01] {peterg} yes
[09:01] {Threei} :)
[09:01] {peterg} makes sense. Of course just after I parked cash in bond fund
[09:09] {peterg} ese, you got a mac?
[09:09] {peterg} it will worki for room, but not compatible with a lot of trading programs
[09:09] {peterg} I have mac with parallels, a windows simulation & laser dsnt work on it.
[09:09] {cosmo} COMS pre mkt high = 2.39 fwiw
[09:09] {peterg} I think you have another broker so might be fine.
[09:11] {GeoArb} gm
[09:12] {Threei} Geo :)
[09:13] {esemde} hi peter yes
[09:13] {esemde} thats my plan is to run windows on it as well....
[09:14] {esemde} but was thinking of using Boot Camp as oppose to parrelles
[09:15] {esemde} parallels
[09:17] {peterg} that works
[09:17] {esemde} do you like it peter?
[09:18] {peterg} was just thinking where is computer that operates on voice command
[09:18] {peterg} I think after a year with mac, I am still more familiar with windows.
[09:18] {esemde} really....
[09:18] {GeoArb} vad dcc pls...
[09:18] {peterg} My son can rip through problems on mac like nothing Iv ever seen,
[09:18] {Threei} we have testimony by paulson coming
[09:18] {peterg} so I think it is what you are used to.
[09:18] {dptl} good morning all
[09:19] {Threei} dp :)
[09:19] {esemde} i ned it for recording and video editing ...stuff like that
[09:19] {Threei} I believe market will react on the tone of that
[09:19] {Onix} good morning all
[09:19] {peterg} thats all mac ese
[09:19] {esemde} onix
[09:19] {Threei} overall, expecting kind of repeat of yesterday's swampy action
[09:20] {Threei} until and unless something definite appears in rescue plan discussion
[09:20] {Threei} onix :)
[09:20] {peterg} swampy
[09:21] {Threei} geo?
[09:22] {GeoArb} sorry got kicked out
[09:22] {Threei} FRE is creeping toward 1
[09:22] {GeoArb} paged again
[09:23] {dino} gm all
[09:23] {Threei} dino :)
[09:24] {esemde} domino....I mean...dino
[09:24] {esemde} sorry that was Van Morrison......got confused
[09:24] {Threei} why is WM selling into basement?
[09:25] {Threei} hawk, are you out of AIG?
[09:25] {hawkfan4} not 100%
[09:26] {Threei} but protected profits
[09:26] {hawkfan4} definitely, yesterday. just holding some for bigger move
[09:26] {Threei} wtg
[09:27] {Threei} late joiners, please scroll up to the beginning and read my forecast for the market developments
[09:27] {magoo} ok
[09:27] {Threei} will shape up our framework
[09:27] {GeoArb} comon... repost it vad !!!!!
[09:28] {Threei} no... it's a contest of who is lazier
[09:28] {GeoArb} sheesh
[09:28] {Threei} and I never lost such contest
[09:29] {GeoArb} the replay.....
[09:29] {peterg} I win!
[09:29] {fernp} Good morning all
[09:30] {Threei} fern :)
[09:31] {Threei} SENATOR DODD: THE CURRENT PLAN WOULD DO NOTING TO STOP CEOS FROM DUMPING TOXIC ASSETS ON TAXPAYERS
[09:31] {Threei} {XLF}
[09:32] {Threei} wow FRE
[09:32] {Threei} who would have thought this thig was still alive and kicking
[09:32] {esemde} are my quotes wrong.....I have ndx down 65 and comp down 80
[09:32] {Threei} COMP up 14
[09:33] {esemde} thats what my chart looks like
[09:35] {esemde} whats the indu doing vad?
[09:35] {esemde} up or dn
[09:35] {Threei} up
[09:35] {esemde} 16?
[09:35] {magoo} vad..rimm bounce somewwhere
[09:35] {Threei} WM spike
[09:35] {Threei} grrr
[09:36] {Threei} liked 3 break and couldn't find guts to call
[09:36] {magoo} l rimm smalkl .20
[09:37] {Threei} COIN
[09:37] {Threei} late
[09:38] {Threei} don't chase it but of pulls back to/under .50, should be interesating
[09:38] {Threei} spread is wide, try to bid it
[09:40] {Threei} SEN SHELBY: MARKET RESCUE PLAN 'CODIFIES' THE APPROACH IT HAS TAKEN TO RECENT CRISES IN ITS AD HOC MANNER
[09:40] {Threei} I'll need an interpreter for this one
[09:40] {magoo} stopped rim .88
[09:41] {magoo} had .57 missed exit
[09:41] {Threei} WM pullback scalp
[09:41] {dino} fdx sm l .51
[09:41] {Threei} 3.22 long
[09:41] {Threei} if stays above .15
[09:42] {Threei} .14 stop
[09:43] {dino} simply means sen shelby has a dictionary on his desk
[09:43] {magoo} in wm
[09:44] {Onix} in WM @ .22
[09:45] {dino} celg sm l .30
[09:45] {Threei} monsrous move FRE?FNM
[09:46] {Threei} WM stopped
[09:46] {Onix} stopped wm
[09:47] {Threei} REVIEW: JULY HOUSE PRICE INDEX DUE OUT AT 10AMET
[09:47] {Threei} **consensus expectation: -0.2%e v 0.0% prior
[09:48] {magoo} out wm
[09:48] {magoo} gotta be fast today with scalps
[09:49] {Threei} [09:19] {Threei} overall, expecting kind of repeat of yesterday's swampy action
[09:49] {Threei} [09:20] {Threei} until and unless something definite appears in rescue plan discussion
[09:49] {Threei} one correction is probably needed on finnies
[09:49] {Threei} since there are no shorts on them, their pullbacks are deeper than usual
[09:50] {Threei} let's try to do it this way:
[09:50] {Threei} when chart says time to enter, let's wait for one more dump
[09:50] {magoo} u mean we gotta wait until dino runs into restroom?
[09:50] {dino} lol
[09:50] {Threei} too much to consider...
[09:50] {Threei} lol
[09:51] {hawkfan4} lol
[09:51] {Threei} if you took COIN on pullback, stop is under .35
[09:51] {dino} out fdx .91, +.40
[09:52] {Threei} wtg
[10:00] {dino} ty
[10:00] {Threei} SEPT RICHMOND FED MANUFACTURING: -18 V -12E
[10:00] {Threei} yikes
[10:00] {Threei} housing index now
[10:01] {Threei} probably more important to market than manufacturing
[10:01] {Threei} JULY HOUSE PRICE INDEX M/M: -0.6% V -0.2%E
[10:01] {Threei} double yikes
[10:01] {Threei} lol, market got so accustomed to bad news, it doesn't even blink
[10:02] {Threei} let's try and put together list of probable beneficiaries of rescue plan
[10:02] {Threei} my candidates so far are
[10:02] {Threei} FRE/FNM
[10:02] {Threei} AIG
[10:02] {Threei} feel free to add
[10:02] {dino} politicians, investment bankes, ceo's, etc
[10:03] {Threei} oh, of course
[10:03] {Threei} lol
[10:03] {Threei} but we can't buy and sell them for profit
[10:03] {Threei} or can we
[10:03] {GeoArb} its called lobying
[10:03] {dino} politicians maybe
[10:03] {Threei} we have no cause
[10:04] {Threei} we are too lazy
[10:04] {Threei} geo won't even scroll up to read my (brilliant) forecast for the market action
[10:05] {dino} fdx sm l wide .60
[10:05] {Threei} good boy COIN
[10:06] {GeoArb} i did i did
[10:06] {Threei} if you took .52, you are up easy and cool 20 cents
[10:07] {dino} out celg .90, +.50
[10:08] {hawkfan4} nice
[10:09] {Threei} US SEN SCHUMER: RESCUE PACKAGE BILL WILL NOT BE LOADED WITH EXTRAS, AND CONGRESS WILL ACT SOON
[10:10] {Threei} look at friking WM
[10:10] {dino} thx hawk
[10:11] {Threei} dino, you see ENER?
[10:11] {dino} no, but i will
[10:11] {dino} ouch
[10:11] {Threei} along your alley, it seems
[10:11] {dino} gap around 60
[10:14] {Threei} I really hate to say it... but FRE/FNM could be worth a try for more than scalp
[10:15] {Threei} quite sustainable buying
[10:15] {Threei} I don't have reliable read on this kind
[10:15] {Threei} in terms of exact entries
[10:16] {dino} ener v sm l .01, wide risky
[10:19] {Threei} Long Setup: UAUA .27
[10:19] {Threei} stop under .10
[10:21] {dino} out ener 63.03, +1.02 ty 3i
[10:21] {Threei} welcome sir
[10:21] {Threei} had all markings of your kind of play
[10:22] {dino} ffiv spike
[10:22] {magoo} how come only dino allowed to take those??
[10:22] {dino} balls magoo
[10:22] {Threei} sorry ags
[10:22] {Threei} rules are rules
[10:22] {Threei} dino's play is dino's play
[10:22] {GeoArb} hmmm rules on balls
[10:23] {GeoArb} oh ok
[10:23] {dino} lol
[10:24] {Threei} let's trail UAUA stop to .14
[10:25] {Threei} FRE non-stop
[10:26] {Threei} if anyone jumped on it, I'd out here
[10:27] {Threei} sorry for not very specific calls on this kind guys
[10:27] {Threei} I am usually much more precise
[10:27] {Threei} but this kind during this uncertain times makes it more of gut plays than technicals
[10:28] {Threei} trail UAUA to under .20 and look to exit or partial on a spike 'over .40
[10:28] {hawkfan4} have FNM from yesterday .868 {ducks}
[10:28] {Threei} how did I know that...
[10:28] {dino} lol, gj
[10:28] {Threei} you have this streak in you, lol
[10:28] {hawkfan4} :) thx
[10:29] {Threei} UAUA does these disgusting teleportations
[10:29] {Threei} have your order in
[10:29] {Threei} then it can hit it on spike
[10:29] {dino} denny crane
[10:35] {dino} qsii
[10:36] {dino} ener double bottom
[10:37] {dino} v sm l .01 again
[10:39] {GeoArb} whats up with uaua?
[10:39] {GeoArb} all over
[10:39] {Threei} that's how it trades lately
[10:39] {dino} stop to b/e
[10:40] {dino} ener stopped flat
[10:43] {Threei} AIG started the shakeout process
[10:44] {Threei} considering how severe pullbacks are I wouldn't be shocked to see it drpping as far as 5 before recovery
[10:44] {magoo} it would be pretty demoralizing if this mkt goes red
[10:45] {Threei} it can do it easily
[10:45] {Threei} remember, according to my "plan", we are in rinsing stage
[10:45] {Threei} market is more concerned with getting rid of early longs thatn anything else
[10:46] {magoo} what u do? have mkt over for shiskabob and conversation ?
[10:46] {dino} banks losing it
[10:47] {Threei} look at FRE
[10:48] {Threei} quite sever setback
[10:48] {Threei} severe
[10:49] {dino} ensg
[10:53] {peterg} who bought it at .86?
[10:53] {peterg} fess up
[10:53] {peterg} was it me?
[10:53] {peterg} No;
[10:55] {Threei} RIMM
[10:55] {Threei} awww
[10:55] {Threei} late
[10:55] {Threei} 98 break was what I had in mind :(
[10:55] {Chaeron} Good morning all...
[10:55] {Threei} chaeron :)
[10:55] {Chaeron} magoo, you got RIMM in time? Hi Threei
[10:55] {magoo} nah
[10:56] {Threei} gave second chance
[10:56] {dino} ener v sm l .81 risky
[10:56] {Threei} be quick to take profit who got it
[10:59] {Threei} US TSY PAULSON: TREASURY NEEDED THE BAZOOKA IN ORDER TO DEAL WITH FRE AND FNM
[11:00] {Threei} nice imagery
[11:03] {Threei} - Notes the GSE rescue was an example of broad authorities working as they should.
[11:03] {Threei} - these comments were off-script from the text of Paulson's prepared remarks.
[11:04] {Threei} FDIC'S BAIR: BANKING SYSTEM IS DOING 'WELL' DESPITE RECENT TURMOIL
[11:04] {Threei} oh cool
[11:06] {Threei} Ben is speaking now
[11:07] {peterg} what he say?
[11:07] {dino} syut
[11:07] {Threei} ugh... I can't type that fast :)
[11:07] {dino} he says: "baseball been very good to me"
[11:07] {peterg} rofl
[11:08] {dino} old sat. night live
[11:08] {peterg} are our campadres too young to rbr?
[11:08] {peterg} like yesterday
[11:08] {peterg} 4 me
[11:09] {magoo} l aapl small here
[11:12] {dino} ener stopped -.55 v sm
[11:13] {dino} rinsed
[11:14] {magoo} out aapl .85, +51
[11:14] {dino} gj
[11:14] {peterg} tks mags,
[11:15] {magoo} fairly easy
[11:15] {peterg} ..58
[11:15] {magoo} your welcome
[11:17] {peterg} actually, +.68, ty
[11:17] {magoo} beat me
[11:17] {magoo} it went a point from entry
[11:17] {peterg} never
[11:20] {pita} happy hunting - gotta go.......
[11:22] {dino} ensg sm l .45
[11:30] {Threei} ben: I am a college professor, I never worked on Wall Street
[11:30] {dino} ener v sm l .40
[11:30] {Threei} FED CHAIRMAN BERNANKE: MARKETS WOULD DETERIORATE WITHOUT THE ADDITION OF THIS MARKET RESCUE PLAN - Q&A
[11:30] {Threei} - Notes that the size of the plan is necessary in order to be 'adequate' as a resolutuon
[11:30] {Threei} - Says that if the valuation of assets is accurate, then it is possible recover most of the value of assets over a period of time, and the taxpayer should be mostly unharmed
[11:30] {Threei} - Feels that jobs may be lost if the markets do not function properly{
[11:31] {dino} gapping
[11:39] {dino} why the worry about losing steve jobs
[11:41] {magoo} vad, it seems UAUA no longer connected to uso fwiw
[11:42] {magoo} appx .70 cent drop uso with no response
[11:45] {Threei} TREASURY SECRETARY PAULSON: URGING CENTRAL BANKS AROUND THE WORLD TO ADOPT SIMILAR PLANS TO THE US BAILOUT
[11:45] {Threei} yes mags
[11:45] {Threei} more like moving with NQ now
[11:46] {magoo} sorry to wake u up he he
[11:47] {Threei} lol
[11:48] {GeoArb} off to work
[11:48] {GeoArb} cheers
[11:48] {magoo} bye geo
[11:50] {dino} cya geo
[11:55] {Threei} [10:43] {Threei} AIG started the shakeout process
[11:55] {Threei} [10:44] {Threei} considering how severe pullbacks are I wouldn't be shocked to see it drpping as far as 5 before recovery
[11:56] {Threei} how about that?
[11:56] {hawkfan4} great call
[11:57] {Threei} ty
[11:58] {magoo} why didn't u call it short?
[11:58] {dino} ener stopped too hard
[11:59] {Threei} guess why mags
[11:59] {Threei} 3 attempts
[12:01] {dino} spwr spike
[12:02] {Threei} range is defined now, 5 - 5.20
[12:02] {Threei} 5.21 long acordingly... desirably if consolidates a bit tighter so stop would be not that wide
[12:04] {Chaeron} Times Online September 23, 2008 CEO murdered by mob of sacked Indian workers Corporate India is in shock after a mob of sacked workers bludgeoned to death the chief executive who had dismissed them from a factory in a suburb of Delhi.
[12:09] {dino} wow
[12:10] {Threei} is it a sign of things to come?
[12:13] {dino} dogs and cats living together in sin, is the sign
[12:13] {dino} ask ghost busters
[12:15] {Threei} hawk, you are partialling out FRE, right?
[12:15] {hawkfan4} yes, i sold more than half at 1.37
[12:15] {dino} gj
[12:15] {hawkfan4} thx
[12:15] {dino} i still think they wipe out the common
[12:15] {Threei} cool beans
[12:16] {Threei} quite possible dino
[12:16] {Threei} I just don;t think it'll happen nearest days
[12:16] {Threei} they have their hands full
[12:16] {Threei} and FRE/FNM issue ceased to be immediate fire to put out right now
[12:17] {dino} what better time than when you can't short it, but who knows
[12:18] {Threei} yeah, no way I would commit to them for longer timeframe
[12:22] {Threei} WM started its shake
[12:23] {Threei} with this one it's even more dangerous
[12:23] {dino} ener seems to have a range going 590-60.60
[12:23] {Threei} oil is dropping nicely
[12:24] {Threei} what a show it did yesterday on Oct contract
[12:26] {dino} nue sm l .00
[12:37] {Threei} .long rimm 98.10 if stays above 87.90
[12:37] {Threei} 97.90
[12:37] {Threei} Long Setup: RIMM 98.10 if stays above 97.90
[12:37] {Threei} there... got it right
[12:38] {Threei} useless though, invalidated
[12:38] {Threei} becomes a bounce candidate
[12:40] {Threei} mags, ready?
[12:40] {magoo} yes
[12:41] {Threei} quick dive under 97
[12:41] {Chaeron} what's the call???
[12:42] {Threei} or break of .25
[12:42] {Threei} if doesn't lose 97
[12:42] {Threei} but it should
[12:44] {dino} nue stopped -.38
[12:44] {Threei} in
[12:44] {Threei} stop under .80
[12:45] {Threei} 1:1 is easy
[12:45] {Threei} want more though
[12:46] {dino} v sm risky, ener l .02
[12:48] {Threei} offering half RIMM at .55
[12:48] {Threei} getting greedy I guess
[12:50] {Threei} out half
[12:51] {Threei} offering the balance at .95
[12:51] {magoo} out here .78 TY vad
[12:51] {Threei} welcome sir
[12:51] {magoo} i like when u read rimm with me
[12:52] {dino} dxpe
[12:53] {Threei} ah come on... 2 cents shy?? :)
[12:54] {Threei} I take it hearing doesn't go very well for paulson-the-bazooka-carrier?
[12:56] {Threei} +.91 on second half
[12:56] {Threei} was worth the wait
06[12:57] * magoo slaps Threei around a bit with a large trout
[12:57] {Threei} oh great
[12:57] {Threei} I find nice play, give it to him blow by blow, and what do I get in return
[12:57] {Threei} not halibut
[12:57] {Threei} not even salmon
[12:57] {Threei} loausy trout
06[12:58] * Threei is sniffing
[12:58] {magoo} weell..
[12:59] {Threei} US TREASURY'S PAULSON: MONEY MARKET BACKSTOP SHOULD NOT BE PERMANENT
[12:59] {Threei} {FII LM BK}
[12:59] {dino} gj
[12:59] {Threei} no kidding... permanent backstop is not even socialism
[12:59] {Threei} pure highway robbery
[12:59] {dino} out ener slipped .55 +.53
[13:01] {Threei} sharp dive market
[13:01] {Threei} MS
[13:01] {Threei} AIG
[13:01] {Threei} SUSPENDS DIVIDEND ON COMMON STOCK
[13:02] {Threei} MS bounce candidate
[13:03] {Threei} needs more selling for me to feel more confident
[13:06] {dino} fast drop
[13:06] {Threei} that's more like it
[13:06] {Threei} ideally, closer to 25.5
[13:09] {dino} ensg stopped .15, -.30
[13:09] {Threei} not really liking it here
[13:09] {Threei} if it's a bottom, I'll miss it
[13:09] {peterg} ms bounce?
[13:09] {Threei} yeah
[13:11] {Threei} AIG
[13:11] {Threei} NAIC CHIEF: HOLDERS OF AIG POLICIES ARE 'SAFE'
[13:12] {Threei} if I were policy holder, I'd run scared out of my mind after this reas'surance
[13:14] {Threei} LARGE HOLDERS REPORTEDLY EXPECT TO RECEIVE NOTICE ON FINANCIAL POSITION OF COMPANY LATER TODAY - UNCONFIRMED REPORT
[13:14] {Threei} - Reminder there were reports earlier of a meeting of Top holders and the discussion prospects for accepting US Govt deal
[13:17] {magoo} vad, rememnber my comment earlier on going red
[13:18] {magoo} not good here
[13:20] {Threei} you commented anything earlier today?
[13:20] {magoo} sure
[13:20] {Threei} I just wanted to ask whether anyone seen magoo
[13:20] {Threei} rare case when I haven't heard from him throughout the whole day
[13:20] {dino} -4.3% dji since fri high
[13:21] {dino} ilmn sm l .00
[13:22] {peterg} world's biggest idiot, me, made +3.00 on apple short I didn'
[13:23] {peterg} t know I had. Taking day off for zen meditation
[13:23] {Threei} wow
[13:23] {Threei} lol
[13:23] {dino} lol, better lucky than good,
[13:23] {peterg} right, thks
[13:23] {Threei} well, take it as a sign fron high above:
[13:23] {magoo} roflol
[13:23] {Threei} you are supposed to be a trader
[13:23] {Threei} don't fight your destiny
[13:23] {magoo} u should start a trading room for idiots
[13:23] {peterg} I likethat
[13:24] {Chaeron} harsh mags :)
[13:24] {Threei} lord, gave me power to keep silent
[13:24] {Threei} because you know, oh lord, I have so many combcks to that for magoo
[13:25] {Threei} what, no trout? :)
[13:25] {Threei} magoo is not here apparently
[13:25] {Threei} but seriously peter... congratulations
[13:25] {Threei} klittle luck never hurts
[13:26] {dino} luck is a part of it, imo
[13:26] {peterg} thanks--gotta get lunch
[13:29] {Threei} nice bounce MS
[13:29] {Threei} I want a membership in room for idiots
[13:29] {dino} you already are
[13:30] {magoo} u are running the room vad lol
[13:30] {Threei} hehe
[13:30] {Threei} oops... hehe is wrong reaction
[13:31] {Threei} righteous indignation is right one
[13:31] {Threei} and...
06[13:31] * Threei slaps magoo around a bit with a large trout
[13:31] {Threei} wow MS
[13:31] {Threei} what a drop
[13:34] {hawkfan4} Kentucky senator just said that he was frightened to the point of near panic because he doesn't think the plan will work. a real confidence booster
[13:35] {Threei} no kidding
[13:35] {dino} 5%
[13:35] {Threei} he has any thoughts on why it may or may not work, aside of his lack of intestinal fortitude?
[13:36] {dino} the panic is because he's afraid the public will blame him and not vote him back in
[13:37] {Threei} now, that must be a truly scary thought
[13:37] {dino} what will i do, i'm not qualified for anything
[13:38] {Chaeron} run for office
[13:38] {Threei} senator who doesn't want to flip burgers... imagine that
[13:38] {cosmo} maybe he could join our room?
[13:38] {magoo} u idiot cos he he
[13:39] {magoo} when l;aser logs in...lets all call dave an.u guessed it..............IDIOT lol
[13:39] {Threei} not me
[13:40] {Threei} I still haven't gotten a wire from last withdrawal;
[13:40] {Threei} not going to risk it
[13:40] {magoo} oh shit...im the idiot
[13:42] {cosmo} idiots will inherite the earth
[13:43] {cosmo} MNKD may have life still
[13:45] {cosmo} needs to hold 4.60
[13:50] {dino} celg sm l .70
[13:57] {Threei} SPEAKER OF HOUSE PELOSI: MAKING PROGRESS ON THE BAILOUT BILL
[13:57] {Threei} you feel relief?
[13:58] {cosmo} i would never admit to that...
[14:00] {Threei} US HOUSE REPORTEDLY PASSES 312-112 ON CREDIT CARD BILLING RULES OPPOSED BY BUSH ADMINISTATION
[14:00] {Threei} FED BUYS SECURITIES OUTRIGHT TO ADD TO PERMANENT RESERVES
[14:00] {Threei} {TLT}
[14:01] {dino} there's your ppt
[14:01] {dino} they are admitting it
[14:02] {cosmo} they?
[14:02] {Threei} THEY
[14:02] {Threei} AMZN
[14:02] {Threei} HEARING PIPER JAFFRAY MAKING CAUTIOUS COMMENTS (TIMING UNCERTAIN)
[14:02] {Threei} lol
[14:02] {Threei} for how long AMZN exists, Pipr hates then
[14:02] {Threei} them
[14:02] {Threei} always downgrades, wanrs etc
[14:03] {dino} "they", plunge protection team
[14:03] {cosmo} hmm...them
[14:04] {magoo} who???
[14:04] {cosmo} MNKD.... should hold 4.65
[14:04] {Threei} FED'S BERNANKE: US CREDIT RATING IS AFFECTED BY ALL WE DO, UNSURE HOW THE RATING AGENCIES OPERATE
[14:04] {dino} us
[14:04] {cosmo} needs to hold 4.60
[14:05] {Threei} ben's losing it
[14:05] {Threei} ok, can't help it:
[14:05] {Threei} Long Setup: FRE .25 if stays above .20
[14:05] {Threei} NY FED: REPORTEDLY PLANS TO PURCHASE GSE DISCOUNT NOTES TODAY
[14:05] {Threei} {FRE FNM}
[14:06] {dino} call him bernie
[14:06] {Threei} as in "good job bernie"?
[14:07] {dino} more like "weekend at bernie's"
[14:07] {Threei} lol
[14:07] {cosmo} he's a real figure head...
[14:10] {cosmo} bernie, that is...
[14:11] {dino} :)
[14:12] {Threei} NY FED: REPORTEDLY PLANS TO PURCHASE GSE DISCOUNT NOTES TODAY; BUYING AGENCY NOTES MATURING BETWEEN OCT 2008 AND JULY 2009
[14:12] {Threei} - purchases to close at 2:30pmET{FRE FNM}
[14:12] {Threei} I don't know what it means for common, if anything
[14:16] {dino} typically nothing, bondholdeers would own company
[14:17] {Threei} FRE 1;1
[14:17] {dino} bondholders wipe out common, then issue new
[14:34] {Threei} SENATOR DODD: DRAFT LEGISLATION FROM TREASURY IS UNACCEPTIBLE IN CURRENT FORM
[14:34] {Threei} party pooper
[14:34] {magoo} l aa[pl .50
[14:34] {Threei} SENATOR SHELBY: WE WILL NOT RUBBER STAMP THE TREASURY PLAN
[14:38] {dino} l
[14:38] {magoo} out .91 FAST
[14:38] {dino} .
[14:38] {magoo} .
[14:38] {dino} out celg .30, +.70
[14:38] {magoo} am i here??
[14:39] {Threei} ummm
[14:39] {dino} .60 i mean
[14:40] {Threei} .70 was good enough dino
[14:41] {magoo} so mkt should NOT like this correct?
[14:42] {Threei} ?
[14:42] {Threei} do we have a server problem?
[14:42] {magoo} am i here?
[14:42] {Threei} let's see
06[14:42] * Threei slaps magoo around a bit with a large trout
[14:43] {magoo} kkep hearing "disconnected"
[14:44] {Threei} wierd
[14:44] {Threei} onvious problem somewhere, half of the room gone
[14:44] {Threei} and not getting ping response on you
[14:46] {magoo} i keep hearing the room message"disconnected"
[14:46] {Chaeron} .
[14:48] {magoo} yup
[14:49] {Threei} market is spiking
[14:49] {Threei} MS break of .,70 should be good for a scalp
[14:50] {Threei} too deep pullbacl
[14:50] {Threei} bounce candidate rather
[14:50] {peterg} no ping, but here
04[14:51] -} [peterg] PING
[14:51] {Threei} ping replies are very long
[14:51] {peterg} about 3 min disconnect ping
[14:51] {peterg} maybe sniper takes em out one at a time
[14:51] {Threei} [14:46] [magoo PING reply]: 2mins 11secs
[14:52] {peterg} no maybe 13 min no ping
[14:52] {Threei} [14:48] [Chaeron PING reply]: 1min 50secs
[14:52] {Threei} -----------
[14:52] {peterg} 3i, repeat after me: weird, not wierd; weird, not wierd
[14:52] {Threei} lol
[14:53] {Threei} 14:52] [peterg PING reply]: 1min 46secs
[14:54] {peterg} yes, weird
[14:54] {peterg} weirdly long
[14:55] {peterg} any theory?
[14:55] {Threei} server or route somewhere

[15:28] {Threei} sheesh
[15:29] {Threei} got dumped
[15:29] {dino} got booted, anyway out celg +.60 at .30, out ilmn .45, +.45
[15:29] {Threei} gj
[15:32] {Threei} look at ABK from the day when shorts were banned
[15:34] {dino} down, like most banks
[15:34] {GeoArb} anyone else have loging issues?
[15:35] {GeoArb} loking at the numbers i guess yes
[15:35] {Threei} yes geo
[15:36] {dptl} have a good evening all :)
[15:36] {dino} yes geo
[15:37] {Threei} take care dp
[15:37] {GeoArb} just when i was going to short aig 50k shares
[15:37] {Threei} wait till Oct 3
[15:44] {Threei} so far, point 1 of my forecast is being fulfilled
[15:46] {dino} ener approaches lod
[15:46] {Threei} market cascading down
[15:47] {Threei} ummm... can anything cascade up?
[15:49] {Threei} magoo was right on red close... whereever magoo is
[15:50] {Threei} hawk... you holding any of those finnies overnight?
[15:50] {hawkfan4} just a little of aig and fnm, teeny
[15:50] {Threei} OK... as long as they can't hurt you badly
[15:51] {hawkfan4} nah, and i might dump if they drop from here, or after hours
[15:51] {dino} magoo's slacking
[15:51] {Threei} in a strange twist of logic,
[15:51] {Threei} this dump may actuaally help convince lawmakers
[15:53] {Threei} easy force-feedback loop
[15:53] {Threei} package announced, market explodes
[15:53] {Threei} they procrastinate, market dumps
[15:54] {GeoArb} now thats just blackmail
[15:54] {Threei} and you would put it pass whom? :)
[16:00] {Threei} thank you all
[16:01] {Threei} have a good evening, see you tomorrow for the next act of drama
[16:01] {hawkfan4} cya all
[16:03] {dino} thx all, gj
[16:07] {GeoArb} thanks guys I am off