Friday, November 21, 2008

That was truly good day. For us AND, for a change, for the market. With exception of a few boring hours, morning and end of day yielded enough of good trades. And, we came up with exceptionally bad poetry summed up around 14:50. Enjoy

Session Time: Fri Nov 21 00:00:00 2008

[08:00] {magoo} morning
[08:14] {Threei}  Good morning mags
[08:14] {magoo} :)
[08:14] {magoo} vad, any news solar secror? FSLR csiq solf
[08:17] {Threei}  06:00am [CSIQ] Reports Q3 $0.36 (adj) v $0.54e, R $252.4M v $248Me; reverts to previous lower FY08 rev outlook
[08:18] {Threei}  in other words... 06:00am [CSIQ] earning: ouch, and guide for the next year: yikes
[08:18] {Threei}  how about this translation?
[08:19] {magoo} ty..only way i can understand iot lol
[08:20] {patience} good morning guys
[08:20] {Threei}  patience :)
[08:20] {magoo} vad, any surprises in tech sector..aapl rimm etc
[08:21] {magoo} morn patience:)
[08:42] {ese} good morning
[08:42] {Threei}  ese :)
[08:42] {ese} hey vad.......back after another thursday  morning Hiatus....
[08:43] {ese} yup....could lose some money in CSIQ
[08:44] {ese} have a couple of positions there
[08:44] {magoo} vads news aapl rimm??
[08:44] {Threei}  no
[08:45] {ese} although CSIQ has 6 bucks and some in cash per share....and it's trading at 3.50
[08:45] {magoo} ty
[08:46] {hawkfan4} EMKR .85 cents, geez
[08:49] {ese} was it another big down day share wise on the Dow yesterday......capitulation maybe??
[08:49] {ese} did it feel like that to you Vad
[08:49] {Threei}  as already occured you mean? or coming?
[08:50] {Threei}  yeasterday's selling wasn't it
[08:50] {ese} i think as already occured....yesterday
[08:50] {Threei}  nasty sellof as it was, it didn't feel at all like that final climactic "get me out so I can forget whole thing"
[08:51] {ese} you feel like that is still to come
[08:51] {Threei}  this I don't know
[08:51] {Threei}  see, capitulation is a sure way to finish the phase and start anew,
[08:51] {Threei}  but not every bear market ends in capitulation
[08:52] {ese} how so
[08:52] {Threei}  sometimes it's along slow grind,
[08:52] {Threei}  sometimes it's a certain turn of events that changes sentiment
[08:53] {magoo} vad..we are down so far levels that is..and people been getting out ...maybe no woosh
[08:53] {Threei}  and sometimes capitulation is not as pronounced as to be spotted as it occurs
[08:53] {Threei}  and becomes capitulation in hindsight only
[08:53] {Threei}  right magoo
[08:53] {ese} hmmmmm i see what you mean    volume yesterday 537 mil and Oct 10 672mill
[08:54] {ese} on the Dow
[08:54] {magoo} say again:) lol
[08:54] {Threei}  imagine how much of invested capital was already liquidated during these selloffs
[08:54] {Threei}  day after day
[08:54] {Threei}  week after week
[08:54] {Threei}  relentless selling
[08:54] {Threei}  200 points todsay, 300 tomorrow, 400 again, 200 again
[08:55] {Threei}  Just how much is there left to liquidate?? :)
[08:55] {Threei}  who knows?
[08:56] {Threei}  let me post one short blurb on capitulation I;ve written a while ago
[08:56] {Threei}  need to put it on blog
[08:56] {Threei}  didn't get to it yet
[08:56] {Threei}  so posting here:
[08:57] {wishbone} gm all
[08:57] {Threei}  Re: Capitulation.
[08:57] {Threei} 
[08:57] {Threei}  There are two important things to keep in mind about this concept.
[08:57] {Threei} 
[08:57] {Threei}  First is, bottoms are not always being formed by capitulatory selloff (V-shape). Sometimes it's a slow grind shaping as a dish; sometimes even with caputilation it's still not that easy - initial bounce leads to a second drop into lows and double bottom, however nice the formation is, has second bottom LOWER than first one, so early buyers still get shaken out.
[08:57] {Threei}  Second, and most important to remember. You probably noticed that whereever you find the description of the concept, it's still just a concpet - meaning, there is no measurable component to it. There is, to my best knowledge, no percentage of the drop that quialifies selloff as capitulation. Name any, and you will inevitably find a whole lot of cases where it was exceeded.
[08:57] {Threei}  There is a good reason for that: if there was a certain measurement for capitulation that guaranteed ultimate low, everyone would be insanely rich waiting for it and buying it... and no one would be buying a second earlier. But then again, why would anyone sell at that ultimate low which has been already proven to be an ultimate one?...
[08:58] {Threei}  Thus, capitulation is either:
[08:58] {Threei}  - can not be computed as it's an emotional state, panic, total disarray leading to a freefall - but not being quantifiable, it's in the eye of a beholder, which meakes "getting a read" on it quite discretionary;
[08:58] {Threei}  or
[08:58] {Threei}  - can be computed to a certain degree IF you somehow know the amount of shares that were held by different stakeholders, and see roughly that amount being traded in a very short period of time (again, discretionary component) during very steep selloff (once again, steep by what standard? on what chart?).
[08:59] {Threei}  No doubt, sometimes experienced traders get it right by gut feeling which is a product of vast experience. By no means it's a fool proof process for any of them, and you will always see arguments about whether this particular selling already constitutes capitulation or not yet, whether capitulation is going to be the case on this particular bear market or not. This concept is necessary to understand, but it doesn't mean that once you understand the concept you can spot the capitulatory type of bottom.
[08:59] {Threei}  End
[08:59] {Threei}  hi wishbone :)
[09:00] {KSystems} Good morning!
[09:00] {Threei}  ks :)
[09:00] {ese} Ksys mornign
[09:00] {ese} wishbone
[09:00] {KSystems} vad, ese :)
[09:00] {KSystems} slept well?
[09:00] {ese} you or us?
[09:00] {KSystems} you
[09:00] {ese} indeed
[09:01] {Threei}  I refuse to share such details
[09:01] {Threei}  this opens door to more questions
[09:01] {ese} shot of vodka....vads wonders
[09:02] {Threei}  sure does... but consider dptl's variation which includes 3 shots
[09:02] {Threei}  5
[09:02] {Threei}  and as you can see, possibilities are endless :)
[09:02] {ese} hmmmmmm....knockout punch
[09:04] {lisa_jay} Good Monring 
[09:04] {KSystems} Well, I can have alcohol actually even without having fun
[09:04] {ese} lisa....
[09:05] {KSystems} hey lisa
[09:06] {Geo} gm all
[09:07] {ese} hey geo
[09:08] {Threei}  lisa, geo :)
[09:09] {dino} gm all
[09:09] {Threei}  with whole solar debacle, ESLR is actually green
[09:09] {Threei}  dino :)
[09:10] {Threei}  if they recover some, this one maybe a scalp candidate on a long side
[09:11] {Onix} Good morning all
[09:11] {Threei}  onix :)
[09:11] {ese} thats another company vad thats huge in cash reserves...with 2/3 billion outstanding orders
[09:11] {ese} Eslr
[09:13] {ese} through to 2011
[09:16] {dino} solar may be dead
[09:17] {ese} too many green initiatives dino.....
[09:18] {dino} keep in mind, no more $ and oil gas are cheap, as is coal
[09:18] {ese} all of California is going to be solar at some point
[09:18] {ese} for starters
[09:18] {dino} at some point........................................................
[09:18] {dino} 10 years?????????????????????????????/
[09:18] {ese} maybe........
[09:18] {dino} when payroll cannot be made, these things stop
[09:18] {Geo} I called around in los angeles ese
[09:18] {Geo} not worth the money
[09:19] {dino} i checked here for my house, geo, 30 year payoff
[09:19] {Geo} yup
[09:19] {dino} not worth it
[09:19] {dino} same w/hybrids, no point for years now
[09:19] {Geo} and the local utilities gave no help so i gave up
[09:19] {dino} and my rant is done
[09:19] {Geo} :) good morning
[09:20] {dino} gap up opens, not good lately, have been getting filled
[09:20] {ese} i stand corrected....but i'm thinking about it still
[09:20] {Threei}  C is trying to bounce
[09:21] {magoo} vad lets watch q for bounce too
[09:21] {dino} fwiw es. i was talking investing wise
[09:22] {ese} yes i know dino.....
[09:22] {dptl} good morning all
[09:22] {Threei}  dp :)
[09:22] {ese} next big mega trend i still think
[09:22] {ese} dp
[09:23] {wishbone} Citigroup (C) climbed 10% in the pre-market after a media report said the bank will hold a meeting to discuss ways to prop up its sliding stock price. This may include selling pieces of or the entire company. This week alone, shares plunged 50%.
[09:27] {ese} geo....were there any subsidies if you wanted to put solar in down there
[09:27] {Geo} none by LADWP
[09:27] {Geo} san francisco edison has some
[09:27] {ese} thats whats suppose to make it viable for you down there isn't it?
[09:28] {Geo} yeah
[09:28] {Geo} I have sun pretty much 364 days
[09:28] {Geo} i really wanted it
[09:28] {Threei}  looked into those solar panels Costco sells geo?
[09:28] {Geo} no
[09:28] {Threei}  around $300
[09:29] {Geo} i was hoping for a integrated whole house solution
[09:29] {Geo} ill look again
[09:29] {Threei}  that could be transitional solution for negligible cost
[09:29] {Threei}  not sure about details
[09:29] {Threei}  but if you find out please share
[09:29] {Geo} i wanted the reverse meter credit thingie
[09:29] {Threei}  yup
[09:29] {ese} kinda like how BC Hydro will help pay for upgrade in windows up here Vad
[09:29] {Threei}  that''s the idea
[09:30] {peterg} good mrng
[09:30] {Threei}  peter :)
[09:31] {Onix} hi peter
[09:31] {peterg} yo onix
[09:32] {dino} mcd sm l .30
[09:32] {Threei}  C hard pullback
[09:33] {Threei}  5.11 probably worth a try if holding 5
[09:33] {magoo} full or half
[09:34] {Threei}  stop is tight enough
[09:34] {Threei}  or just right here with ridiculously tight stop
[09:34] {Threei}  couple cents? why not
[09:34] {magoo} well its fast..hard to hold stop
[09:35] {Threei}  whatever... in .04, out .15
[09:35] {Threei}  finger-warming scalp
[09:36] {peterg} took dime
[09:36] {lisa_jay} Thanks Vad.
[09:36] {peterg} tks
[09:36] {Threei}  sure guys
[09:36] {tomg} ty
[09:37] {Threei}  not this time
[09:38] {Threei}  when low gets retested so many times, not likely to hold
04[09:41] -} [Threei] PING
[09:44] {Threei}  CSIQ
[09:44] {Threei}  3.20 break half lot long if holding above 3.10 and if FSLR moves up
[09:48] {Threei}  over 1:2
[09:48] {Threei}  me out
[09:48] {tomg} ty vad
[09:48] {Threei}  tom :)
[09:51] {Threei}  quotes OK for everyone?
[09:51] {tomg} y
[09:52] {magoo} yes
[09:52] {Threei}  my connection then
[09:54] {Onix} ty for CSIQ Vad, i got 6c & 13c
[09:55] {Threei}  :)
[09:55] {Geo} Y vad..... in .24 out .46
[09:55] {Geo} TY
[09:55] {Threei}  I thought I was widely ignored
[09:55] {Geo} chat on a diff pc
[09:56] {Threei}  must be inconvinient
[09:56] {Geo} want it to be
[09:56] {Threei}  why not hook up more moniors to one PC?
[09:57] {Geo} i have 2 pcs on diff internet connections.... dont want both on same pc
[09:57] {Geo} C approaching yesterday lod
[09:57] {Threei}  ah, OK... there are people who want their encounters with opposite gender to occur in hammock while wearing ski
[09:58] {Threei}  I can undertand the concept of creating difficulities in order to over come them :)
[09:58] {lisa_jay} lol
[10:01] {Threei}  hmmm
[10:01] {Threei}  why do I have this feeling we may not see Euro at all in couple years
[10:02] {Geo} oooh C breaking 4
[10:02] {Threei}  why didn't we short it
[10:02] {dino} dji gap filled
[10:03] {Geo} [06:57] {Geo} C approaching yesterday lod
[10:03] {Geo} i couldnt see a setup
[10:03] {Geo} and you were in a ski mask in a hammock somewhere
[10:03] {Threei}  in retrospect, bounce back into 5 after breakdown was a good bet
[10:04] {Threei}  no... my connection is shaky
[10:04] {dino} euro talk sounds like c saying we are fine
[10:04] {Geo} ah
[10:04] {Threei}  quotes went on and off
[10:04] {Threei}  my thoughts exactly dino
[10:04] {lisa_jay} R they back up Vad?
[10:04] {Threei}  I see nothing but troubles for it ahead
[10:04] {Threei}  looks better now lisa
[10:05] {Threei}  just in case guys,
[10:05] {Threei}  when I post a call, have double take at qwuotes to make sure you see what I see
[10:05] {Threei}  let's have little checkup
[10:06] {Threei}  UAUA bid 7.84?
[10:06] {Threei}  .85
[10:06] {tomg} y
[10:06] {Geo} y
[10:06] {Threei}  FSLR 87.70?
[10:06] {Geo} too fast
[10:06] {Threei}  LVS 3.76?
[10:06] {tomg} y
[10:06] {Geo} y
[10:06] {wishbone} y
[10:06] {Threei}  ok... seemes to stabilize
[10:07] {Threei}  ty
[10:07] {Threei} Long Setup:  KLAC  .70 break half lot
[10:08] {Threei}  stop under .60
[10:08] {Threei}  broke while I typed but was still available .72 - .73
[10:10] {lisa_jay} is it still valid
[10:11] {Threei}  if NQ upticks, yes
[10:12] {Threei}  stopped
[10:12] {Chaeron} good morning all
[10:12] {Threei}  chaeron :)
[10:12] {Onix} stopped
[10:12] {tomg} out
[10:12] {Onix} hi chaeron
[10:17] {Threei}  C death spiral
[10:19] {tomg} uaua did it again vad
[10:20] {Threei}  didn't watch it
[10:20] {Threei}  what did it do?
[10:20] {Threei}  teleportation?
[10:20] {tomg} sharp down to .8 and right back up
[10:20] {Threei}  yup, see it on the chart
[10:21] {Threei}  you traded it?
[10:21] {tomg} nah
[10:21] {tomg} :)
[10:21] {tomg} saving green from your earlier calls :)
[10:23] {dino} dji needs to break above 7650 imo to rally
[10:32] {dino} .
[10:33] {tomg} .
[10:33] {Threei}  you remember Chaeron will have to sweep all that after hours, right?
[10:33] {Chaeron} }{
[10:33] {Chaeron} it's the only way I can afford my trading habit....
[10:36] {KSystems} coffee, anyone?
[10:36] {Threei}  slow motion today
[10:36] {patience} amazing day for me in the market...done well in goldcorp, barrick and gold bullion etf.  sold yesterday afternoon's agrium shares +2.02
[10:36] {Chaeron} it's Friday...
[10:36] {Threei}  one-legged snail making its way through molasses
[10:37] {lisa_jay} Nice trades Patience.
[10:37] {Threei}  wtg patience
[10:37] {patience} trust me, been a while since a day like today
[10:37] {magoo} theres no money left to in buyers finito
[10:37] {Chaeron} huge patience... great job
[10:38] {dino} afam sm l .10
[10:38] {patience} ty
[10:38] {Threei}  it's been a serious while since I've seen UAUA so tame
[10:40] {Threei}  signs of life now
[10:40] {Threei}  watch it fore teleportation setup
[10:41] {Threei}  Q, pullback closer to .70 worth a try long
[10:42] {Chaeron} forget UAUA?
[10:42] {Threei}  {F}
[10:42] {Threei}  why
[10:42] {Chaeron} no no... play UAUA with that bounce of Q's?
[10:42] {Threei}  me confused
[10:43] {Chaeron} me too... lol
[10:44] {Threei}  got .75 Qs
[10:44] {Threei}  stop under .70
[10:45] {Threei}  no worky
[10:46] {Onix} .74
[10:48] {Threei}  anyone got UAUA scalp?
[10:48] {magoo} vad..what levels will put the fear in shorts today?as in panic cover
[10:48] {lisa_jay} what was that drop?
[10:49] {Threei}  one more UAUA
[10:49] {Threei}  come on guys, this is ATM
[10:49] {Threei}  for NQ, something like 1065 - 1070, mags
[10:50] {Onix} stopped
[10:51] {Geo} rumor C is being put on short restricted list at prime brokers
[10:51] {Threei}  not good... kiss of death
[10:51] {Threei}  (as if C needed of that, lol)
[10:52] {tomg} have a good weekend, all. ty vad, good week:)
[10:52] {Threei}  take care tom, wtg :)
[10:52] {Chaeron} bye tom
[10:52] {Threei}  you realize how few people can say "it was good week" this week? :)
[10:52] {tomg} cya chaer :)
[10:53] {KSystems} have a good WE tom
[10:53] {Chaeron} heheh... the only ppl I hear saying that are in here... and I know a lot of traders
[10:53] {tomg} u2 KS
[10:56] {Threei}  DJI is 7557?
[10:57] {Threei}  roguuhly
[10:57] {Chaeron} and just went red, yes
[10:57] {Threei}  OK
[10:57] {dino} afam stopped
[11:02] {dino} 7506 coming
[11:16] {dino} say it again sam
[11:16] {Threei}  - Pelosi remarks that she opposes bankruptcy in automakers, 'doing nothing' not an option
[11:21] {dino} t sm l .90
[11:24] {hawkfan4} Rev Shark
[11:24] {hawkfan4} Merger?
[11:24] {hawkfan4} 11/21/2008 9:37 AM EST
[11:24] {hawkfan4} So if Goldman Sachs mergers with Citibank will the new entity be called "Sachs in the Citi"? 
[11:24] {Geo} lol
[11:26] {lisa_jay} lol
[11:26] {dino} i suppose it's better name than w/o merger...true blood
[11:27] {Threei}  C... long on 4 break or short off 4...
[11:27] {dino} c'mon, that was funny
[11:27] {hawkfan4} lol dino :)
[11:28] {lisa_jay} ?  what Vad?
[11:28] {lisa_jay} C trade?
[11:28] {Threei}  thinking out loud lisa... :)
[11:28] {lisa_jay} Oh ok...
[11:28] {magoo} vad,,it doies seem the level 2 and mkt gets faster on upside
[11:29] {Threei}  this is what happens this whole week mags
[11:29] {Threei}  talked about it couple times
[11:29] {magoo} i know
[11:29] {magoo} just rehashing it
[11:29] {Threei}  ok... 4 break long
[11:29] {Threei}  if stays above 3.90
[11:31] {Threei}  DYAX
[11:32] {dino} amag sm l .33
[11:35] {dino} gut say up
[11:41] {ese} hmmmm back... didn't realize i was cut off
[11:41] {dino} afam sm l .20 risky
[11:41] {Geo} c tired
[11:42] {dino} es we always cut you off
[11:42] {dino} sort of like magoo at a party
[11:42] {dino} out t .35, +.45
[11:42] {magoo} boy if i were short id be puttin on pull-ups here
[11:44] {dino} i will be short shortly
[11:46] {Geo} did ya get hit at 1:1 vad?
[11:46] {Threei}  half
[11:46] {Geo} ok... i missed by a tick
[11:47] {Geo} ok guys off to work.... good trading all and a great weekend
[11:47] {Threei}  take care Geo, have a good one
[11:48] {dino} cya ggeooooooooo
[11:51] {Threei} Long Setup:  GG  .40 break small shares
[11:51] {Threei}  if stays above .20
[11:52] {ese} see ya geo
[11:52] {hawkfan4} l8r geo
[11:54] {Threei}  .50 break should send it rocketing
[11:54] {dino} same pattern as last few days, whatever move pull back 80-90
[11:54] {dino} and vice versa
[12:07] {Threei}  move your sorry butt GG
[12:08] {Threei}  over 1:1, half out
[12:08] {Threei}  +.25
[12:08] {Threei}  sheesh... read this:
[12:08] {Threei}  **Philadelphia Fed President Charles Plosser is scheduled to speak at 12:15pmET on the Financial Crisis. Speech will be closed and content embargoed until 1:15pmET.
[12:08] {Threei}  **Chicago Fed President Charles Evans is scheduled to speak at 12:40pmET to a group of economists.
[12:08] {Threei}  Speech will be closed and content embargoed?
[12:08] {Threei}  wth is this about
[12:11] {dino} c, ceo pandit, "rumor mongering our real problem"
[12:11] {dino} nothing to do w/its' business
[12:16] {Threei}  great... I wanted to slap Geo after GG worked... but room server dump bumped him
[12:17] {Threei}  stop of course is trailed to under b/e for the balance
[12:19] {dino} out amag .82, +.49
[12:20] {lisa_jay} nice
[12:20] {dino} ty
[12:21] {dino} good pattern on it, .20s-.90
[12:23] {Chaeron} c'mon GG
[12:25] {dino} cnbc michelle, nice
[12:26] {dino} bj l sm .40
[12:27] {ese} have a great weekend all......nice one on amag dino
[12:27] {dino} ty es, take care bud
[12:27] {ese} see ya ....
[12:31] {Threei}  take care ese
[12:37] {dino} biggest rally in 11 years taking place (not)
[12:38] {patience} i am now up about 8k on my trades today is doing ok
[12:38] {dino} wow!
[12:38] {Threei}  wtg
[12:38] {patience} feels like last january
[12:38] {patience} no effort
[12:39] {dino} you do my month in a day, sheesh
[12:40] {dino} dino, feeling inadequate
[12:40] {magoo} is that a pure daytrade pat?
[12:40] {patience} no
[12:40] {dino} ok, feeling better
[12:40] {patience} agrium was an overnighter
[12:41] {dino} feeling worse now
[12:41] {patience} i've been sclalping barrick
[12:41] {patience} i've been holding goldcorp and barrick options for weeks
[12:41] {patience} got them for a good price
[12:41] {dino} gj
[12:42] {patience} ty, but my style is different from can nail multiples daily
[12:42] {lisa_jay} which month expiration options do you usually trade Patience?
[12:42] {patience} i like to do further out calls or puts
[12:43] {patience} i want time on my side for awhile
[12:43] {lisa_jay} Ok, thanks.
[12:44] {dino} cedcsm l .41 risky one
[12:50] {dino} lol gm getting rid of 2 of 5 jets
[13:08] {magoo} vad..working theory here into bell?
[13:08] {Threei}  how does one who got forecloserd yesterday feel?
[13:09] {Threei}  really can't tell mags
[13:09] {Threei}  there is not much rythm to action
[13:09] {Threei}  slow ebb and flow
[13:20] {dino}  cedc stopped -.40
[13:22] {lisa_jay} Off to library everyone...Kids day off.
[13:22] {lisa_jay} Thanks Vad.
[13:22] {lisa_jay} Bye everyone.
[13:24] {Threei}  take care lisa, have a good weekend
[13:29] {dino}  cya lisa
[13:36] {Threei}  are we in for another multihundred down day?
[13:37] {Threei}  retest of the low seems inevitable
[13:38] {magoo} recent?
[13:38] {Threei}  1 min ago
[13:42] {Geo} [10:18] {Threei}  great... I wanted to slap Geo after GG worked... but room server dump bumped him
[13:42] {Geo} why? boss
[13:42] {Threei}  'cause you left 2 min before profitable call
[13:43] {Geo} heh
[13:43] {Geo} lemme check
[13:43] {Geo} in 400 GG .39
[13:43] {Geo} out 200 .50
[13:43] {Geo} 200 .70
[13:44] {Geo} put it on auto pilot and off to shower
[13:44] {Threei}  so, you said you left, but in fact you hid and took the call?
[13:44] {Threei}  how sneaky is that
[13:44] {Geo} i start closing apps on pcs
[13:44] {Geo} with your room being last
[13:44] {Geo} my greed knows no bounds
[13:44] {Geo} amazing patience btw
[13:45] {Geo} i trade mornings on laser and rest on ninja with IB as i can put stops and be in and out of office
[13:45] {Geo} so it paid TY  lord vader !!
[13:46] {Threei}  you are welcome of course... but there goes my plan to wait till you leave with profitable calls
[13:46] {Geo} hey !!!
[13:46] {Geo} tha was with onix remember?
[13:46] {Threei}  I widen my scope
[13:46] {Geo} or is it round robin
[13:49] {dino} t sm l .70 stop lod
[13:56] {Threei}  feels like flush toward day low is coming
[14:01] {dino} t stoped
[14:02] {dino} stopped
[14:05] {Threei}  QID bounce off 99
[14:05] {Threei}  tha was fast
[14:05] {Threei}  50 cents in seconds
[14:19] {magoo} bulls are all bullets to push up any type rally
[14:20] {Threei}  kind of hard to imagine any catalyst for it :)
[14:20] {magoo} need a large fund to buy buy buy
[14:22] {dino} more like apathy
[14:26] {Threei}  can you imagine any fund wanting to commit now
[14:26] {Threei}  facing redemptions, tax selling, autoindustry uncertainty
[14:27] {Threei}  C near demise
[14:27] {Threei}  JPM highly questionable
[14:28] {Threei}  we need a fund manager with strong suicidal tendencies
[14:29] {patience} that would be the ones who manage funds where they have to be fully invested at all times
[14:29] {Threei}  I have deep sympathy for those
[14:31] {Threei}  these days for them must be like watching themselves slowly dismemberd with a saw, limb by limb
[14:31] {Threei}  with band-aids carefully applied to keep them barely alive
[14:35] {Chaeron} Laserdave1 DCC pelase?
06[14:35] * Chaeron slaps laserdave1 around a bit with a large trout
[14:42] {Threei}  inverted C&H
[14:43] {Threei}  breakdown
[14:43] {Threei}  flush
[14:43] {dino} reminds me of joe the plumber
[14:44] {Threei}  and I am trying to come up with piece of poerty rhyming with "drain"
[14:44] {Threei}  Goes market train
[14:44] {Threei}  Dow the drain
[14:44] {Threei}  Down
[14:44] {KSystems} keep it with Dow
[14:44] {dino} pain
[14:45] {peterg} row row your boat, gently down the strain
[14:45] {peterg} merrily merrily merrily life is but a drain
[14:45] {Threei}  but a pain
[14:45] {peterg} perfect
[14:45] {dino} i guess the toilet was backed up, spiked
[14:46] {dino} overflow
[14:46] {Threei}  On the market canvas
[14:46] {dino} 100 pt swing 14:44 to 14:46
[14:46] {Threei}  We are but a stain
[14:46] {dino} yeah, real tradable
[14:46] {patience} that bastard Barrick, how does it know to jump after i just sold at the extreme high.   now i am just greedy
[14:46] {Threei}  lol dino
[14:47] {Threei}  peter... how about these two last lines?
[14:47] {peterg} magnicent
[14:47] {peterg} I have to tear away from project involving website design
[14:47] {peterg} yecdh
[14:47] {dino} [14:44] {Threei}  Down
[14:47] {dino} [14:44] {KSystems} keep it with Dow
[14:47] {dino} [14:45] {dino} pain
[14:47] {dino} [14:45] {peterg} row row your boat, gently down the strain
[14:47] {dino} [14:45] {peterg} merrily merrily merrily life is but a drain
[14:47] {dino} [14:45] {Threei}  but a pain
[14:47] {dino} [14:45] {peterg} perfect
[14:47] {dino} [14:46] {dino} i guess the toilet was backed up, spiked
[14:47] {dino} [14:46] {dino} overflow
[14:47] {dino} [14:46] {Threei}  On the market canvas
[14:47] {dino} [14:46] {dino} 100 pt swing 14:44 to 14:46
[14:48] {Threei}  Overflowed toiled
[14:48] {Threei}  Backed up again
[14:48] {dino} where are the entries on junk like thos
[14:48] {Threei}  nowhere... it's wait on a sideline
[14:48] {Threei}  ok... let me sum it up
[14:49] {dino} agreed
[14:49] {dino} allow me sir; simply a coin flip market
[14:50] {Threei}  OK
[14:51] {Threei}  result of collective impulse of creativity:
[14:51] {Threei}  Goes market train
[14:51] {Threei}  Down the drain.
[14:51] {Threei}  Row your boat,
[14:51] {Threei}  Row your boat
[14:51] {Threei}  Gently down the strain.
[14:51] {Threei}  Merrily merrily merrily,
[14:51] {Threei}  Life is but a pain.
[14:51] {Threei}  On the market canvas
[14:51] {Threei}  We are but a stain.
[14:51] {Threei}  Overflowed toilet
[14:51] {Threei}  Backed up again.
[14:51] {Chaeron} we're subject to your poetry now?????
[14:52] {Chaeron} your humor isn't enough???
[14:52] {Threei}  why mine...
[14:52] {Threei}  a few contributors
[14:52] {peterg} Verrry nice!
[14:52] {Threei}  and hey... if you can hadle my humor, you are strong enough to be tested by next degree of torture
[14:53] {Threei}  just be thankful I don't sing
[14:53] {Chaeron} oi
[14:54] {Threei}  oy is right - people have been known to break down windows trying to get out of the zone of horror
[14:55] {dino} this action so random, i am thinking about going bear hunting monday instead of trading
[14:56] {Threei}  wait
[14:56] {patience} calling it a day...starting to do revenge trading because i left money on the table
[14:56] {Threei}  isn't it what we are doing here?
[14:56] {dino} at least then i have a setup
[14:56] {patience} have a good weekend guys
[14:56] {Threei}  patience :)
[14:56] {Chaeron} bye patienc3
[14:56] {KSystems} take care patience
[14:56] {dino} gj patience and have a nice weekend
[14:56] {hawkfan4} cya patience
[14:57] {Threei}  yesterday's log I started with this:
[14:57] {Threei}  I don't know if I am allowed to call a "nice day" one where trading was profitable but the market suffered another horrific blow. Anyway... that's how it shaped up.
[14:57] {Threei}  one of my correspondents sent to me this:
[14:57] {Threei}  Have you ever heard the saying, “Besides that Mrs. Lincoln, how was the play?” Sorta’ fits.
[14:57] {Threei} 
[14:58] {Chaeron} :))
[14:58] {dino} lol
[14:58] {Threei}  good one :)
[14:58] {peterg} soon time for more gruesome humor; in deference
[14:59] {peterg} to genteel sensibilities, I will refrain
[14:59] {Chaeron} I think the definition of a good or "nice" day is a profitable one, period
[14:59] {Chaeron} "Any landing you can walk away from is a good landing"... - some famous pilot
[15:00] {Threei}  hehe
[15:00] {magoo} laser dcc
06[15:00] * magoo slaps laserdave1 around a bit with a large trout
[15:00] {KSystems} my index quotes are gone...where is the dow?
[15:00] {Chaeron} he hasnt answered my DCC
[15:00] {Chaeron} 7545
[15:00] {Threei}  7545
[15:00] {Chaeron} 7558
[15:00] {KSystems} thanks chaeron, vad
[15:00] {Chaeron} 7563
[15:00] {Chaeron} hehehe
[15:01] {KSystems} snapshot isnt working anymore...quotes are being held in ranges from now on
[15:01] {Chaeron} 7572
[15:03] {Threei}  - nomination to be made Monday
[15:03] {Threei}  - Bill Richardson to be named Commerce Secretary{
[15:04] {peterg} hmmmm
[15:04] {dino} dino to fill white house keg tapping position
[15:04] {Geo} so i c you guys are trading like crazy
[15:04] {peterg} peterg wanting doorman uniform with gold braid
06[15:04] * Chaeron slaps Geo around a bit with a large trout
[15:04] {dino} 2 on all dayers
[15:05] {Threei}  isn't it another bank guy?
[15:06] {Threei}
[15:08] {dino} so randomly this should go negative in 30 seconds
[15:10] {dino} sheesh i was joking
[15:11] {Threei}  what bounce C
[15:12] {dino} hod
[15:13] {Threei}  toiled was seriously backed up
[15:13] {Threei}  toilet
[15:13] {Threei}  so, just naming next sec of treasury is enough for rally?
[15:14] {Threei}  I would suggest naming a new one every day
[15:15] {Threei}  problem solved, we have new rally each day, forever
[15:15] {Threei}  eternal bull market, until we run out of population to name
[15:16] {Threei}  look at GG
[15:16] {Threei}  why did we ever sell?
[15:16] {dino} out bj .20, +.80 hours seemed like days
[15:17] {Threei}  C, bounce candidate closer to .50
[15:19] {dptl} have a good weekend all
[15:19] {Threei}  take care dp
[15:22] {dino} later dp
[15:22] {dino} 120 pt drop
[15:30] {Threei}  so, another Fed guy at the helm
[15:30] {Threei}  change it is
[15:31] {wishbone} lol
[15:31] {Geo} change we can live with
[15:31] {Geo} i mean do you really want magoo?
[15:31] {Threei}  well
[15:32] {Threei}  I thought Larry Summers
[15:32] {Threei}  but yeah, I would settle for magoo
[15:32] {Geo} he has too many dead bodies
[15:32] {Threei}  magoo?
[15:32] {Geo} yeah he too
[15:32] {Threei}  I don't care
[15:32] {Threei}  I'd drop by to White House to have a drink with him
[15:32] {Threei}  and brag about it
[15:33] {Geo} didnt know treasury sec lived in the white house
[15:33] {dino} out mcd .30, +1.00
[15:33] {Threei}  why do we need to have a drink where he lives?
[15:34] {Geo} 12:33] {Geo} didnt know treasury sec workedin the white house
[15:34] {Threei}  [15:33] {Threei} why do we need to have a drink where he works?
[15:34] {Geo} heheheh
[15:34] {Geo} ok i really need to trade something
[15:34] {wishbone} nice mcd's dino
[15:35] {Threei}  let Qs drop to 26 and buy it
[15:35] {Threei}  or 25.8
[15:35] {dino} not really wish took hours
[15:35] {magoo} is that a call vad?
[15:35] {Threei}  geo wants to trade something
[15:35] {Threei}  I give ideas
[15:36] {Threei}  with this volatility 40 cents drop for Qs is easy to do,
[15:36] {Threei}  and 26 is former resistance it broke on this last thrust
[15:37] {dino} i just told magoo, i'm going to start to come to work at 2:00 est and leave at close, only time i make $
[15:37] {Geo} nice
[15:37] {Geo} hmmmm no pullback
[15:38] {dino} your 500+ day magoo, imo
[15:40] {Threei}  peter
[15:40] {dino} heres your pullback, lets go down to 340, then up
[15:40] {magoo} after 10 200 bux rinses sigh
[15:40] {Threei}  we don't have any poetry for up days
[15:40] {Geo} 240?
[15:41] {Threei}  we started with rhyming "drain" which pretty much set the tone
[15:41] {dino} 340
[15:41] {Threei}  probably need another one with umm, "sky"?
[15:41] {Threei}  moon?
[15:41] {dino} i'm wrong
[15:41] {Threei}  here comes Qs
[15:41] {dino} hey my b-day went by positive today
[15:41] {Threei}  lol
[15:42] {Threei}  look at this drop
[15:42] {Threei}  40 cents already
[15:42] {Threei}  in one gasp
[15:42] {Threei}  - reminder: Summers was the other leading candidate for Treasury Secretary
[15:42] {dino} geo, split us at 290
[15:42] {Geo} in .25
[15:43] {Geo} half out .35
[15:44] {Threei}  I also came up with book title for whole bailouts galore
[15:45] {Threei}  Salvation That Wasn't
[15:45] {Geo} out rest
[15:45] {dino} senior advisory role, i guess a new position
[15:45] {dino} don't remeber that a cabinet position
[15:45] {dino} 240 geo, nice call
[15:45] {Threei}  and here is 26
[15:46] {Threei}  in and out +.16
[15:46] {Threei}  that was easy
[15:47] {dino} the old gary north book will be coming back, salvation through inflation, from 90s
[15:47] {Threei}  hmm?
[15:47] {Threei}  anyone took Qs off 26?
[15:47] {Threei}  come on, that was prophetic call
[15:47] {Geo} no.. i took previous
[15:48] {Threei}  oracle-worthy
06[15:48] * Threei slaps magoo around a bit with a large trout
06[15:49] * Threei slaps Geo around a bit with a large trout
[15:49] {dino} the coin toss says down
[15:49] {dino} feels up tho
[15:49] {Threei}  next one because he is not here:
06[15:49] * Threei slaps dptl around a bit with a large trout
[15:49] {Geo} ahhhhhh
[15:49] {Geo} back in black finally
[15:50] {Threei}  and this one because he just can't be omitted when it comes to trouting:
06[15:50] * Threei slaps laserdave1 around a bit with a large trout
[15:50] {Geo} took late entry in this spurt
[15:50] {Geo} so patience made what 8k?
[15:50] {Geo} pshhhaw
[15:50] {Geo} 18.10 here
[15:52] {Geo} man i tried hard for an extra credit trout
[15:52] {dino} the coin toss froze the markets
[15:52] {Geo} oh well
06[15:52] * dino slaps Geo around a bit with a large trout
[15:52] {Geo} thanks dino
[15:52] {Geo} can always count oon ya
[15:54] {dino} must be a contra-coin
[15:54] {peterg} sorry missed rhyme time
[15:54] {dino} i'll set it aside
[15:54] {Threei}  it's ok peter
[15:54] {dino} indeed geo
[15:54] {Threei}  we will have a lot of time for poetry for upward days before bull market starts
[15:54] {dino} c'mon i promsed magoo 500+
[15:55] {Threei}  440
[15:56] {peterg} k, took dime on gg for fun
[15:57] {peterg} shdv take20n 
[15:57] {dino} bamm
[15:57] {peterg} taken 20
[15:57] {Threei}  500
[15:57] {peterg} lets get their hopes up before we crush them again
[15:59] {dino} out afam .31, +1.11
[15:59] {Geo} nice
[15:59] {dino} thx, again hours
[15:59] {Threei}  thank you all
[15:59] {Threei}  have a great relaxing weekend
[15:59] {Threei}  see you all on monday
[16:00] {Geo} thanks guys
[16:00] {KSystems} you too vad
[16:00] {KSystems} bye everybody!
[16:00] {dino} thx all, see you at 2 on monday (kidding)
[16:00] {hawkfan4} bye all, enjoy
[16:00] {peterg} bye all